Stock-Based Compensation (Tables)
|
3 Months Ended |
Mar. 31, 2026 |
|---|
| Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
|
| Summary of Stock Option Activity |
A summary of stock option activity for the three months ended March 31, 2026 is set forth below:
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|
|
|
|
|
|
|
|
|
|
|
|
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|
|
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|
Number
of Stock Options
Outstanding |
|
|
Weighted Average Contractual Term (in years) |
|
|
Aggregate Intrinsic Value (in thousands) |
|
|
Weighted
Average
Exercise Price Per Share |
|
Outstanding at December 31, 2025 |
|
|
2,332,762 |
|
|
|
8.24 |
|
|
$ |
11 |
|
|
$ |
8.07 |
|
Granted |
|
|
— |
|
|
|
— |
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|
|
— |
|
|
|
— |
|
Exercised |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Canceled |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Outstanding at March 31, 2026 |
|
|
2,332,762 |
|
|
|
8.00 |
|
|
|
6 |
|
|
|
8.07 |
|
Exercisable at March 31, 2026 |
|
|
1,292,236 |
|
|
|
7.84 |
|
|
|
6 |
|
|
|
9.74 |
|
No stock options were granted during the three months ended March 31, 2026.
|
| Summary of Warrant Activity Associated with Equity Financings |
A summary of common stock warrant activity for the three months ended March 31, 2026 is set forth below:
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|
|
|
|
|
|
|
|
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|
Number of Warrants Outstanding |
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|
Weighted Average Contractual Term (in years) |
|
|
Aggregate Intrinsic Value (in thousands) |
|
|
Weighted
Average
Exercise Price Per Share |
|
Outstanding at December 31, 2025 |
|
|
1,376,056 |
|
|
|
5.30 |
|
|
$ |
— |
|
|
$ |
5.91 |
|
Granted |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Exercised |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Canceled |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Outstanding at March 31, 2026 |
|
|
1,376,056 |
|
|
|
5.25 |
|
|
|
— |
|
|
|
5.91 |
|
Exercisable at March 31, 2026 |
|
|
564,790 |
|
|
|
5.51 |
|
|
|
— |
|
|
|
5.54 |
|
|
| Summary of RSU Activity |
A summary of RSU activity for the three months ended March 31, 2026 is set forth below:
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|
|
|
|
|
|
|
|
|
|
Number of RSUs |
|
|
Weighted
Average
Grant Date Fair Value per RSU |
|
Unvested RSUs at December 31, 2025 |
|
|
1,307,366 |
|
|
$ |
2.89 |
|
Granted |
|
|
180,000 |
|
|
|
2.01 |
|
Vested/shares issued |
|
|
— |
|
|
|
— |
|
Forfeited, cancelled, or expired |
|
|
— |
|
|
|
— |
|
Unvested RSUs at March 31, 2026 |
|
|
1,487,366 |
|
|
$ |
2.78 |
|
|
| Summary of Restricted Stock Activity |
A summary of RSPA activity for the three months ended March 31, 2026 is set forth below:
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|
|
|
|
|
|
|
|
|
|
Number
of RSPA |
|
|
Weighted
Average
Grant Date Fair Value per RSPA |
|
Unvested RSPAs at December 31, 2025 |
|
|
13,486 |
|
|
$ |
29.13 |
|
Granted |
|
|
— |
|
|
|
— |
|
Vested |
|
|
(5,780 |
) |
|
|
29.13 |
|
Forfeited |
|
|
— |
|
|
|
— |
|
Unvested RSPAs at March 31, 2026 |
|
|
7,706 |
|
|
|
29.13 |
|
|
| Summary of Stock-based Compensation Expense Recognized |
A summary of stock-based compensation expense recognized for the three months ended March 31, 2026 and 2025 is as follows (in thousands):
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|
|
|
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|
For The Three Months Ended March 31, |
|
|
|
2026 |
|
|
2025 |
|
Stock Options |
|
$ |
119 |
|
|
$ |
501 |
|
RSUs |
|
|
487 |
|
|
|
380 |
|
RSPAs |
|
|
169 |
|
|
|
169 |
|
PRSUs |
|
|
410 |
|
|
|
757 |
|
Warrants |
|
|
203 |
|
|
|
72 |
|
Other |
|
|
— |
|
|
|
— |
|
Total Stock Based Compensation |
|
$ |
1,388 |
|
|
$ |
1,879 |
|
|
| Performance Based Restricted Stock Units |
|
| Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
|
| Summary of Restricted Stock Activity |
A summary of PRSU activity for the three months ended March 31, 2026 is set forth below:
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|
|
|
|
|
|
|
|
|
|
Number
of PRSUs |
|
|
Weighted
Average
Grant Date Fair Value per PRSU |
|
PRSUs at December 31, 2025 |
|
|
1,131,071 |
|
|
$ |
3.09 |
|
Granted |
|
|
80,000 |
|
|
|
1.57 |
|
Shares issued |
|
|
— |
|
|
|
— |
|
Forfeited, cancelled, or expired |
|
|
— |
|
|
|
— |
|
PRSUs at March 31, 2026 |
|
|
1,211,071 |
|
|
$ |
2.99 |
|
|