v3.26.1
STOCKHOLDERS' EQUITY AND EQUITY INCENTIVE PLANS
 3 Months Ended
Mar. 31, 2026
Equity [Abstract]  
STOCKHOLDERS' EQUITY AND EQUITY INCENTIVE PLANS STOCKHOLDERS' EQUITY AND EQUITY INCENTIVE PLANS
Equity Incentive Plans
On January 1, 2026, the number of shares of common stock authorized for issuance under the 2021 Incentive Award Plan (the “2021 Plan”) automatically increased by 7,387,746 shares pursuant to the terms of the 2021 Plan.
Stock Options
A summary of the Company's stock option activity with respect to options granted under the 2021 Plan is as follows:

Number of Options
Weighted
Average exercise price
Weighted remaining contractual term (years)Aggregate
Intrinsic
Value








Outstanding as of January 1, 2026

13,615,770$3.37 3.76$1,582 


Granted

— $— $— 
Exercised

(55,239)$0.46 $53 
Forfeited

(246,662)$2.99 $— 
Outstanding and exercisable as of March 31, 2026

13,313,869$3.39 3.61$938 


RSUs
The following table summarizes the RSU activity with respect to the 2021 Plan for the three months ended March 31, 2026:


RSUs
Outstanding

Weighted Average
Grant Date Fair
Value per Share
Outstanding as of January 1, 2026

9,635,959$2.16
RSUs granted

4,601,197$1.55
RSUs vested

(1,751,464)$2.04
RSUs forfeited

(119,393)$1.99
Unvested and Outstanding as of March 31, 2026

12,366,299$1.95

The stock-based compensation expense by line item in the accompanying consolidated statement of operations is summarized as follows:
Three Months Ended March 31,
20262025
Cost of revenue$106 $128 
Research and development1,014 849 
Sales and marketing484 432 
General and administrative2,157 3,124 
Total expenses$3,761 $4,533 

As of March 31, 2026, there was $25,155 of total unrecognized compensation cost related to non-vested stock-based compensation arrangements granted under the Company's equity incentive plans. These costs are expected to be recognized over a weighted-average period of approximately two years.
Shares Reserved for Future Issuance
The Company has the following common stock reserved for future issuance under the 2021 Plan:
March 31, 2026
Outstanding options13,313,869 
Outstanding RSUs12,366,299 
Shares reserved under 2021 Plan10,484,514 
Total36,164,682 
Stock Repurchase Program
In March 2025, the Board approved a new repurchase program (the “2025 Repurchase Program”), providing for repurchases up to a total of $15,000 thereunder.
On November 7, 2025, pursuant to additional repurchase authority approved by the Board, the Company entered into a stock purchase agreement (the “2025 Stock Purchase Agreement” ) with Special Situations Investing Group II, LLC (the “Sellers”), pursuant to which the Company repurchased 14,443,739 shares of Common Stock from the Sellers at a purchase price of $16,610, representing a price per share of $1.15 for each of the Company’s share of common stock, calculated on the basis of a 25% discount over the average daily VWAP over the 30-day period ending on November 5, 2025. In addition, the Board terminated the 2025 Repurchase Program.
During the three months ended March 31, 2026, the Company did not repurchase any shares of common stock.