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Statement presentation and basis of consolidationThe accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information and with the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”) applicable to interim financial statements. In the Company’s opinion, the accompanying unaudited condensed consolidated financial statements reflect all adjustments necessary for a fair presentation of the Company’s statements of financial position, results of operations, and cash flows for the periods presented. The results of operations for the interim periods are not necessarily indicative of results that may be expected for the fiscal year as a whole or any other future period.The condensed consolidated financial statements include the accounts of CVRx, Inc. and its wholly owned subsidiary, CVRx Switzerland LLC. All intercompany balances and transactions have been eliminated in consolidation. JOBS Act accounting electionWe are an emerging growth company under the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”). As a result, we have elected to take advantage of certain exemptions from various reporting requirements that are applicable to other public companies that are not emerging growth companies.

Use of estimatesPreparation of the condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the condensed consolidated financial statements and the accompanying notes. Actual results could differ from those estimates.

Cash and cash equivalentsCash and cash equivalents include highly liquid investments with an original maturity of three months or less. As of March 31, 2026 and December 31, 2025, cash equivalents consisted of money market funds, which are stated at cost and approximate fair value. Additionally, as of March 31, 2026 and December 31, 2025, a majority of our cash and cash equivalents were maintained with two financial institutions in the U.S., and our current deposits are likely in excess of insured limits.

Accounts ReceivableTrade accounts receivable are recorded at the invoiced amount and do not bear interest. Customer credit terms are established prior to shipment with the standard generally being net 30 days. We evaluate the collectability of our accounts receivable based on known collection risks and historical experience. In circumstances where we are aware of a specific customer's inability to meet its financial obligations to us, we record a specific allowance for bad debts against amounts due to reduce the carrying amount of accounts receivable to the amount we reasonably believe will be collected.

InventoryInventory is stated at the lower of cost or net realizable value, with cost determined on a first-in, first-out basis. We regularly review inventory quantities based on actual loss experiences, projected future demand and remaining shelf life to record a provision for excess and obsolete inventory when appropriate.

LeasesOperating leases are included in operating lease right-of-use (“ROU”) asset, accrued expenses, and operating lease liability – non-current portion in our balance sheets. ROU assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at the lease commencement date based on the present value of lease payments over the lease term. We used the incremental borrowing rate based on information readily available at the time of recognition to determine the present value of the lease payments. The determination of our incremental borrowing rate requires management judgement based on information available at lease commencement.

Revenue recognitionWe sell our products primarily through a direct sales force and to a lesser extent through a combination of sales agents and independent distributors. Our revenue consists primarily of the sale of our Barostim, which consists of two implantable components: a pulse generator and a stimulation lead.Under Accounting Standards Codification (“ASC”) Topic 606, Revenue from Contracts with Customers (“ASC 606”), revenue is recognized when a customer obtains control of promised goods or services, in an amount that reflects the consideration that the entity expects to receive in exchange for those goods or services. To determine revenue recognition for arrangements that an entity determines are within the scope of ASC 606, we perform the following five steps: (i) identify the contract(s) with a customer; (ii) identify the performance obligations in the contract; (iii) determine the transaction price; (iv) allocate the transaction price to the performance obligations in the contract; and (v) recognize revenue when (or as) the entity satisfies a performance obligation. We only apply the five-step model to contracts when it is probable that we will collect the consideration we are entitled to in exchange for the goods or services it transfers to the customer. We recognize net revenue on product sales, adjusted for any applicable estimates of variable consideration, when the customer obtains control of our product, which generally occurs at a point in time upon delivery based on the contractual shipping terms of a contract. Our contracts have a single performance obligation, and our payment terms with customers are generally between 30 and 90 days. Variable consideration related to certain customer rebates is estimated based on the amounts expected to be paid under the agreement with the customer.

Stock-Based CompensationWe recognize equity-based compensation expense for awards of equity instruments to employees and non-employees based on the grant date fair value of those awards in accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification Topic 718, Compensation—Stock Compensation (“ASC 718”). ASC 718 requires all equity-based compensation awards to employees and non-employee directors, including grants of restricted shares and stock options, to be recognized as expense in the statements of operations and comprehensive loss based on their grant date fair values. We estimate the grant date fair value of stock options using the Black-Scholes option pricing model, and the fair value of restricted stock units (“RSUs”) and performance stock units (“PSUs”) are equal to the closing price of our common stock on the grant date. We account for forfeitures as they occur. We expense the fair value of our equity-based compensation awards granted to employees on a straight-line basis over the associated service period, which is generally the period in which the related services are received for stock options and RSUs, and the performance period and any additional service period based on the probability of achieving the performance objectives for PSUs.

Recent accounting pronouncementsIn July 2025, the FASB issued ASU 2025-05, which provides targeted relief under Topic 326 for entities estimating expected credit losses on accounts receivable and contract assets arising from revenue transactions under ASC 606. The amendment introduces a practical expedient allowing entities to assume that current conditions as of the reporting date remain unchanged over the life of the asset. The standard is effective for fiscal years beginning after December 15, 2025, including interim periods within those fiscal years. We adopted ASU 2025‑05 effective January 1, 2026. The amendments were applied on a prospective basis and did not have a material impact on our consolidated financial statements, results of operations, or cash flows. We continue to record a specific allowance for credit losses based on known collection risks and historical experience.In November 2024, the FASB issued ASU 2024-03, Income Statement — Reporting Comprehensive Income (Subtopic 220-40): Disaggregation of Income Statement Expenses. The amendments require public business entities to provide enhanced disclosures related to the disaggregation of income statement expenses, including additional quantitative and qualitative information about the nature of expenses presented within relevant expense captions. The guidance is effective for annual reporting periods beginning after December 15, 2026, and interim reporting periods beginning after December 15, 2027, with early adoption permitted. We have not yet adopted ASU 2024-03 and are in the process of evaluating the impact of the guidance on our consolidated financial statements. While the amendments will require additional disclosures and may require changes to internal data aggregation and reporting processes, we do not expect adoption to have a material impact on its results of operations, financial position, or cash flows.

Inventory consists of the following at:<table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:top;width:73.76%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.24%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.39%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:9.14%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.25%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:9.64%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr style=""><td style="vertical-align:bottom;width:73.76%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.24%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:10.53%;margin:0pt;padding:0pt;">March 31, </td><td style="vertical-align:bottom;white-space:nowrap;width:2.25%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:11.18%;margin:0pt;padding:0pt;">December 31, </td></tr><tr style=""><td style="vertical-align:bottom;width:73.76%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">(in thousands)</td><td style="vertical-align:bottom;white-space:nowrap;width:2.24%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:10.53%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2026</td><td style="vertical-align:bottom;white-space:nowrap;width:2.25%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:11.18%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2025</td></tr><tr style=""><td style="vertical-align:top;width:73.76%;background:#cceeff;margin:0pt;padding:0pt;">Raw material</td><td style="vertical-align:bottom;white-space:nowrap;width:2.24%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.39%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.14%;background:#cceeff;margin:0pt;padding:0pt;"> 8,413</td><td style="vertical-align:bottom;white-space:nowrap;width:2.25%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.64%;background:#cceeff;margin:0pt;padding:0pt;"> 8,628</td></tr><tr style=""><td style="vertical-align:top;width:73.76%;margin:0pt;padding:0pt;">Work-in-process</td><td style="vertical-align:bottom;white-space:nowrap;width:2.24%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.39%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:9.14%;margin:0pt;padding:0pt;"> 623</td><td style="vertical-align:bottom;white-space:nowrap;width:2.25%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:9.64%;margin:0pt;padding:0pt;"> 473</td></tr><tr style=""><td style="vertical-align:top;width:73.76%;background:#cceeff;margin:0pt;padding:0pt;">Finished goods</td><td style="vertical-align:bottom;white-space:nowrap;width:2.24%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.39%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:9.14%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 3,367</td><td style="vertical-align:bottom;white-space:nowrap;width:2.25%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:9.64%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 3,104</td></tr><tr style=""><td style="vertical-align:bottom;width:73.76%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.24%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.39%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td 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Property and equipment, net consists of the following at:<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:top;width:73.76%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.24%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.39%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:9.14%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.25%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:9.64%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr style=""><td style="vertical-align:bottom;width:73.76%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.24%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:10.53%;margin:0pt;padding:0pt;">March 31, </td><td style="vertical-align:bottom;white-space:nowrap;width:2.25%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:11.18%;margin:0pt;padding:0pt;">December 31, </td></tr><tr style=""><td style="vertical-align:bottom;width:73.76%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">(in thousands)</td><td style="vertical-align:bottom;white-space:nowrap;width:2.24%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:10.53%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2026</td><td style="vertical-align:bottom;white-space:nowrap;width:2.25%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:11.18%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2025</td></tr><tr style=""><td style="vertical-align:top;width:73.76%;background:#cceeff;margin:0pt;padding:0pt;">Office furniture and equipment</td><td style="vertical-align:bottom;white-space:nowrap;width:2.24%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.39%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.14%;background:#cceeff;margin:0pt;padding:0pt;"> 399</td><td style="vertical-align:bottom;white-space:nowrap;width:2.25%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.64%;background:#cceeff;margin:0pt;padding:0pt;"> 512</td></tr><tr style=""><td style="vertical-align:top;width:73.76%;margin:0pt;padding:0pt;">Lab equipment</td><td style="vertical-align:bottom;white-space:nowrap;width:2.24%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.39%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:9.14%;margin:0pt;padding:0pt;"> 2,679</td><td style="vertical-align:bottom;white-space:nowrap;width:2.25%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:9.64%;margin:0pt;padding:0pt;"> 3,533</td></tr><tr style=""><td style="vertical-align:top;width:73.76%;background:#cceeff;margin:0pt;padding:0pt;">Computer equipment and software</td><td style="vertical-align:bottom;white-space:nowrap;width:2.24%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.39%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:9.14%;background:#cceeff;margin:0pt;padding:0pt;"> 962</td><td style="vertical-align:bottom;white-space:nowrap;width:2.25%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:9.64%;background:#cceeff;margin:0pt;padding:0pt;"> 1,194</td></tr><tr style=""><td style="vertical-align:top;width:73.76%;margin:0pt;padding:0pt;">Leasehold improvements</td><td style="vertical-align:bottom;white-space:nowrap;width:2.24%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.39%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:9.14%;margin:0pt;padding:0pt;"> 828</td><td style="vertical-align:bottom;white-space:nowrap;width:2.25%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:9.64%;margin:0pt;padding:0pt;"> 827</td></tr><tr style=""><td style="vertical-align:top;width:73.76%;background:#cceeff;margin:0pt;padding:0pt;">Capital equipment in process</td><td style="vertical-align:bottom;white-space:nowrap;width:2.24%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.39%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:9.14%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 374</td><td style="vertical-align:bottom;white-space:nowrap;width:2.25%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:9.64%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 325</td></tr><tr style=""><td style="vertical-align:top;width:73.76%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.24%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.39%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:9.14%;margin:0pt;padding:0pt;"> 5,242</td><td style="vertical-align:bottom;white-space:nowrap;width:2.25%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:9.64%;margin:0pt;padding:0pt;"> 6,391</td></tr><tr style=""><td style="vertical-align:top;width:73.76%;background:#cceeff;margin:0pt;padding:0pt;">Less: Accumulated depreciation and amortization</td><td style="vertical-align:bottom;white-space:nowrap;width:2.24%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.39%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:9.14%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 3,083</td><td style="vertical-align:bottom;white-space:nowrap;width:2.25%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:9.64%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 4,148</td></tr><tr style=""><td style="vertical-align:bottom;width:73.76%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.24%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.39%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.14%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 2,159</td><td style="vertical-align:bottom;white-space:nowrap;width:2.25%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.64%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 2,243</td></tr></table>

399000

512000

2679000

3533000

962000

1194000

828000

827000

374000

325000

5242000

6391000

3083000

4148000

2159000

2243000

P5Y

200000

Accrued expenses consist of the following at:<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:top;width:73.79%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.38%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:9.14%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.24%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:9.64%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr style=""><td style="vertical-align:bottom;width:73.79%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:10.52%;margin:0pt;padding:0pt;">March 31, </td><td style="vertical-align:bottom;white-space:nowrap;width:2.24%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:11.18%;margin:0pt;padding:0pt;">December 31, </td></tr><tr style=""><td style="vertical-align:bottom;width:73.79%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">(in thousands)</td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:10.52%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2026</td><td style="vertical-align:bottom;white-space:nowrap;width:2.24%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:11.18%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2025</td></tr><tr style=""><td style="vertical-align:top;width:73.79%;background:#cceeff;margin:0pt;padding:0pt;">Bonuses</td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.38%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.14%;background:#cceeff;margin:0pt;padding:0pt;"> 2,792</td><td style="vertical-align:bottom;white-space:nowrap;width:2.24%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.64%;background:#cceeff;margin:0pt;padding:0pt;"> 5,200</td></tr><tr style=""><td style="vertical-align:top;width:73.79%;margin:0pt;padding:0pt;">Accrued interest payable</td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.38%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.14%;margin:0pt;padding:0pt;"> 479</td><td style="vertical-align:bottom;white-space:nowrap;width:2.24%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.64%;margin:0pt;padding:0pt;"> 403</td></tr><tr style=""><td style="vertical-align:top;width:73.79%;background:#cceeff;margin:0pt;padding:0pt;">Paid time off</td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.38%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.14%;background:#cceeff;margin:0pt;padding:0pt;"> 472</td><td style="vertical-align:bottom;white-space:nowrap;width:2.24%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.64%;background:#cceeff;margin:0pt;padding:0pt;"> 630</td></tr><tr style=""><td style="vertical-align:top;width:73.79%;margin:0pt;padding:0pt;">401(k) match</td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.38%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.14%;margin:0pt;padding:0pt;"> 418</td><td style="vertical-align:bottom;white-space:nowrap;width:2.24%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.64%;margin:0pt;padding:0pt;"> 1,136</td></tr><tr style=""><td style="vertical-align:top;width:73.79%;background:#cceeff;margin:0pt;padding:0pt;">Operating lease liability, current portion</td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.38%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.14%;background:#cceeff;margin:0pt;padding:0pt;"> 361</td><td style="vertical-align:bottom;white-space:nowrap;width:2.24%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.64%;background:#cceeff;margin:0pt;padding:0pt;"> 352</td></tr><tr style=""><td style="vertical-align:top;width:73.79%;margin:0pt;padding:0pt;">Customer rebates</td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.38%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.14%;margin:0pt;padding:0pt;"> 313</td><td style="vertical-align:bottom;white-space:nowrap;width:2.24%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.64%;margin:0pt;padding:0pt;"> 801</td></tr><tr style=""><td style="vertical-align:top;width:73.79%;background:#cceeff;margin:0pt;padding:0pt;">Employee stock purchase plan</td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.38%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.14%;background:#cceeff;margin:0pt;padding:0pt;"> 262</td><td style="vertical-align:bottom;white-space:nowrap;width:2.24%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.64%;background:#cceeff;margin:0pt;padding:0pt;"> 116</td></tr><tr style=""><td style="vertical-align:top;width:73.79%;margin:0pt;padding:0pt;">Taxes</td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.38%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.14%;margin:0pt;padding:0pt;"> 127</td><td style="vertical-align:bottom;white-space:nowrap;width:2.24%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.64%;margin:0pt;padding:0pt;"> 93</td></tr><tr style=""><td style="vertical-align:top;width:73.79%;background:#cceeff;margin:0pt;padding:0pt;">Clinical trial and other professional fees</td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.38%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.14%;background:#cceeff;margin:0pt;padding:0pt;"> 98</td><td style="vertical-align:bottom;white-space:nowrap;width:2.24%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.64%;background:#cceeff;margin:0pt;padding:0pt;"> 116</td></tr><tr style=""><td style="vertical-align:top;width:73.79%;margin:0pt;padding:0pt;">Other</td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.38%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:9.14%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 1,166</td><td style="vertical-align:bottom;white-space:nowrap;width:2.24%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:9.64%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 637</td></tr><tr style=""><td style="vertical-align:bottom;width:73.79%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.23%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.38%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.14%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 6,488</td><td style="vertical-align:bottom;white-space:nowrap;width:2.24%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.54%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.64%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 9,484</td></tr></table>

2792000

5200000

479000

403000

472000 630000

418000

1136000

361000

352000

313000 801000

262000

116000

127000

93000

98000 116000

1166000

637000

6488000

9484000

50000000

100000000

10000000

60000000

2700000

0.045

0.0675

0.0265

0.02 0.50

2200000

The annual principal maturities of debt under the Loan Agreement are as follows:<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:top;width:83.9%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.69%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:11.73%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr style=""><td style="vertical-align:bottom;width:83.9%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:13.43%;margin:0pt;padding:0pt;">March 31, </td></tr><tr style=""><td style="vertical-align:bottom;width:83.9%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">(in thousands)</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:13.43%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2026</td></tr><tr style=""><td style="vertical-align:top;width:83.9%;background:#cceeff;margin:0pt;padding:0pt;">2026</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:1.69%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:11.73%;background:#cceeff;margin:0pt;padding:0pt;"> —</td></tr><tr style=""><td style="vertical-align:top;width:83.9%;margin:0pt;padding:0pt;">2027</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.69%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:11.73%;margin:0pt;padding:0pt;"> —</td></tr><tr style=""><td style="vertical-align:top;width:83.9%;background:#cceeff;margin:0pt;padding:0pt;">2028</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.69%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.73%;background:#cceeff;margin:0pt;padding:0pt;"> —</td></tr><tr style=""><td style="vertical-align:top;width:83.9%;margin:0pt;padding:0pt;">2029</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.69%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.73%;margin:0pt;padding:0pt;"> —</td></tr><tr style=""><td style="vertical-align:top;width:83.9%;background:#cceeff;margin:0pt;padding:0pt;">2030</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.69%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.73%;background:#cceeff;margin:0pt;padding:0pt;"> 41,250</td></tr><tr style=""><td style="vertical-align:top;width:83.9%;margin:0pt;padding:0pt;">Thereafter</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.69%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.73%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 18,750</td></tr><tr style=""><td style="vertical-align:top;width:83.9%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.69%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:11.73%;background:#cceeff;margin:0pt;padding:0pt;"> 60,000</td></tr><tr style=""><td style="vertical-align:top;width:83.9%;margin:0pt;padding:0pt;">Less: Unamortized debt costs and discounts</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.69%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:11.73%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (1,510)</td></tr><tr style=""><td style="vertical-align:top;width:83.9%;background:#cceeff;margin:0pt;padding:0pt;">Long-term debt</td><td style="vertical-align:bottom;white-space:nowrap;width:2.65%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.69%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:11.73%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 58,490</td></tr></table>

41250000

18750000

60000000

1510000

58490000

5. LeasesWe lease 35,183 square feet of office space in Minneapolis, Minnesota, which houses our principal executive offices and our manufacturing facility. We lease this space under an operating lease agreement that commenced December 1, 2008, and was scheduled to expire August 31, 2024. On April 21, 2023, we extended the operating lease for our office space in Minneapolis, Minnesota for an additional 49 consecutive months through August 31, 2028. On November 7, 2023, we expanded our existing office space with the addition of 7,615 square feet of property adjacent to our principal executive offices and our manufacturing facility. On May 20, 2025, we further increased our office space by leasing an additional 3,678 square feet of the contiguous property. The term on this expanded property is for 40 consecutive months that will run concurrently with the term on the existing lease. We intend to add new facilities as we grow, and we believe that suitable additional or substitute space will be available as needed to accommodate any such expansion of our operations. Our operating lease agreement includes an option to renew for one additional period of three years. The exercise of the lease renewal option is at our sole discretion and was not included in the lease term for the calculation of the ROU asset and lease liability, as it is not reasonably certain of exercise.In addition to base rent, we also pay our proportionate share of operating expenses, as defined in the lease. These payments are made monthly and are adjusted annually to reflect actual charges incurred for operating expenses, such as common area maintenance, taxes, and insurance.The following table presents the lease balances within the condensed consolidated balance sheets:<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;white-space:nowrap;width:74.04%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.26%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:9.2%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.87%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.56%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:9.62%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr style=""><td style="vertical-align:bottom;width:74.04%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.26%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:10.62%;margin:0pt;padding:0pt;">March 31, </td><td style="vertical-align:bottom;white-space:nowrap;width:1.87%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:11.18%;margin:0pt;padding:0pt;">December 31, </td></tr><tr style=""><td style="vertical-align:bottom;width:74.04%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">(in thousands)</td><td style="vertical-align:bottom;white-space:nowrap;width:2.26%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:10.62%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2026</td><td style="vertical-align:bottom;white-space:nowrap;width:1.87%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:11.18%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2025</td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:74.04%;background:#cceeff;margin:0pt;padding:0pt;">Right-of-use assets:</td><td style="vertical-align:bottom;white-space:nowrap;width:2.26%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.2%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.87%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.56%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.62%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:74.04%;margin:0pt;padding:0pt;">Operating lease right-of-use asset</td><td style="vertical-align:bottom;white-space:nowrap;width:2.26%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.2%;margin:0pt;padding:0pt;"> 793</td><td style="vertical-align:bottom;white-space:nowrap;width:1.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.56%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.62%;margin:0pt;padding:0pt;"> 878</td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:74.04%;background:#cceeff;margin:0pt;padding:0pt;">Operating lease liabilities:</td><td style="vertical-align:bottom;white-space:nowrap;width:2.26%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.2%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.87%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.56%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.62%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:74.04%;margin:0pt;padding:0pt;">Accrued expenses</td><td style="vertical-align:bottom;white-space:nowrap;width:2.26%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.2%;margin:0pt;padding:0pt;"> 361</td><td style="vertical-align:bottom;white-space:nowrap;width:1.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.56%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.62%;margin:0pt;padding:0pt;"> 352</td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:74.04%;background:#cceeff;margin:0pt;padding:0pt;">Operating lease liability, non-current portion</td><td style="vertical-align:bottom;white-space:nowrap;width:2.26%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.2%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 544</td><td style="vertical-align:bottom;white-space:nowrap;width:1.87%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.56%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.62%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 638</td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:74.04%;margin:0pt;padding:0pt;">Total operating lease liabilities </td><td style="vertical-align:bottom;white-space:nowrap;width:2.26%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.2%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 905</td><td style="vertical-align:bottom;white-space:nowrap;width:1.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.56%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.62%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 990</td></tr></table>Maturities of our lease liability for our operating lease are as follows as of March 31, 2026:<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;white-space:nowrap;width:80.56%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:3.23%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.63%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:13.55%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr style=""><td style="vertical-align:bottom;width:80.56%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:3.23%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:16.19%;margin:0pt;padding:0pt;">March 31, </td></tr><tr style=""><td style="vertical-align:bottom;width:80.56%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">(in thousands)</td><td style="vertical-align:bottom;width:3.23%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:16.19%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2026</td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:80.56%;background:#cceeff;margin:0pt;padding:0pt;">2026</td><td style="vertical-align:bottom;white-space:nowrap;width:3.23%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.63%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.55%;background:#cceeff;margin:0pt;padding:0pt;"> 308</td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:80.56%;margin:0pt;padding:0pt;">2027</td><td style="vertical-align:bottom;white-space:nowrap;width:3.23%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.63%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.55%;margin:0pt;padding:0pt;"> 424</td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:80.56%;background:#cceeff;margin:0pt;padding:0pt;">2028</td><td style="vertical-align:bottom;white-space:nowrap;width:3.23%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.63%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.55%;background:#cceeff;margin:0pt;padding:0pt;"> 253</td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:80.56%;margin:0pt;padding:0pt;">Total undiscounted lease payments</td><td style="vertical-align:bottom;white-space:nowrap;width:3.23%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.63%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.55%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 985</td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:80.56%;background:#cceeff;margin:0pt;padding:0pt;">Less: imputed interest</td><td style="vertical-align:bottom;white-space:nowrap;width:3.23%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.63%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.55%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (80)</td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:80.56%;margin:0pt;padding:0pt;">Present value of lease liability</td><td style="vertical-align:bottom;white-space:nowrap;width:3.23%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.63%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.55%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 905</td></tr></table>As of March 31, 2026, the remaining lease term was 2.4 years, and the weighted average discount rate was 7.1%. The operating cash outflows from our operating lease were $0.2 million and $0.1 million for the three months ended March 31, 2026 and 2025.

35183

P49M

7615 3678 P40M The following table presents the lease balances within the condensed consolidated balance sheets:<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;white-space:nowrap;width:74.04%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.26%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:9.2%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.87%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.56%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:9.62%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr style=""><td style="vertical-align:bottom;width:74.04%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.26%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:10.62%;margin:0pt;padding:0pt;">March 31, </td><td style="vertical-align:bottom;white-space:nowrap;width:1.87%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:11.18%;margin:0pt;padding:0pt;">December 31, </td></tr><tr style=""><td style="vertical-align:bottom;width:74.04%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">(in thousands)</td><td style="vertical-align:bottom;white-space:nowrap;width:2.26%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:10.62%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2026</td><td style="vertical-align:bottom;white-space:nowrap;width:1.87%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:11.18%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2025</td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:74.04%;background:#cceeff;margin:0pt;padding:0pt;">Right-of-use assets:</td><td style="vertical-align:bottom;white-space:nowrap;width:2.26%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.2%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.87%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.56%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.62%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:74.04%;margin:0pt;padding:0pt;">Operating lease right-of-use asset</td><td style="vertical-align:bottom;white-space:nowrap;width:2.26%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.2%;margin:0pt;padding:0pt;"> 793</td><td style="vertical-align:bottom;white-space:nowrap;width:1.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.56%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.62%;margin:0pt;padding:0pt;"> 878</td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:74.04%;background:#cceeff;margin:0pt;padding:0pt;">Operating lease liabilities:</td><td style="vertical-align:bottom;white-space:nowrap;width:2.26%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.2%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.87%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.56%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.62%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:74.04%;margin:0pt;padding:0pt;">Accrued expenses</td><td style="vertical-align:bottom;white-space:nowrap;width:2.26%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.2%;margin:0pt;padding:0pt;"> 361</td><td style="vertical-align:bottom;white-space:nowrap;width:1.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.56%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.62%;margin:0pt;padding:0pt;"> 352</td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:74.04%;background:#cceeff;margin:0pt;padding:0pt;">Operating lease liability, non-current portion</td><td style="vertical-align:bottom;white-space:nowrap;width:2.26%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.2%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 544</td><td style="vertical-align:bottom;white-space:nowrap;width:1.87%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.56%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.62%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 638</td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:74.04%;margin:0pt;padding:0pt;">Total operating lease liabilities </td><td style="vertical-align:bottom;white-space:nowrap;width:2.26%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.42%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.2%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 905</td><td style="vertical-align:bottom;white-space:nowrap;width:1.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.56%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.62%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 990</td></tr></table>

793000

878000

361000

352000

544000

638000

905000

990000

Maturities of our lease liability for our operating lease are as follows as of March 31, 2026:<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;white-space:nowrap;width:80.56%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:3.23%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.63%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:13.55%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr style=""><td style="vertical-align:bottom;width:80.56%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;width:3.23%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:16.19%;margin:0pt;padding:0pt;">March 31, </td></tr><tr style=""><td style="vertical-align:bottom;width:80.56%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">(in thousands)</td><td style="vertical-align:bottom;width:3.23%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:16.19%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2026</td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:80.56%;background:#cceeff;margin:0pt;padding:0pt;">2026</td><td style="vertical-align:bottom;white-space:nowrap;width:3.23%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.63%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.55%;background:#cceeff;margin:0pt;padding:0pt;"> 308</td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:80.56%;margin:0pt;padding:0pt;">2027</td><td style="vertical-align:bottom;white-space:nowrap;width:3.23%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.63%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.55%;margin:0pt;padding:0pt;"> 424</td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:80.56%;background:#cceeff;margin:0pt;padding:0pt;">2028</td><td style="vertical-align:bottom;white-space:nowrap;width:3.23%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.63%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.55%;background:#cceeff;margin:0pt;padding:0pt;"> 253</td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:80.56%;margin:0pt;padding:0pt;">Total undiscounted lease payments</td><td style="vertical-align:bottom;white-space:nowrap;width:3.23%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.63%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.55%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 985</td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:80.56%;background:#cceeff;margin:0pt;padding:0pt;">Less: imputed interest</td><td style="vertical-align:bottom;white-space:nowrap;width:3.23%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.63%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.55%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (80)</td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:80.56%;margin:0pt;padding:0pt;">Present value of lease liability</td><td style="vertical-align:bottom;white-space:nowrap;width:3.23%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.63%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.55%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 905</td></tr></table>

308000

424000

253000

985000

80000

905000

P2Y4M24D

0.071

200000

100000

102718

12.66

543462

9500000

50000000

<table style="border-collapse:collapse;border:0;"><tr><td style="vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">7.</td><td style="padding:0pt;">Stock-based compensation</td></tr></table>Summary of plans and activityIn June 2001, our Board of Directors and stockholders established the 2001 Stock Incentive Award Plan (“2001 Plan”). Under the 2001 Plan, as amended, 2,674,749 shares of common stock had been reserved for the issuance of incentive stock options granted to employees, non-employee directors, consultants, or independent contractors. Options granted under the 2001 Plan have vesting terms that range from the date of grant to four years and expire within a maximum term of 10 years from the grant date. In 2021, our Board of Directors and stockholders established the 2021 Equity Incentive Plan (“2021 Plan”). The number of shares of common stock initially reserved for issuance under the 2021 Plan was 1,854,490 newly reserved shares in addition to the 600,737 shares that remained available for issuance under the 2001 Plan. The shares available for issuance under the 2021 Plan automatically increase on the first day of each year, commencing January 1, 2022, and ending on (and including) January 1, 2031, in an amount equal to 5% of the total number of shares of our common stock outstanding on the last day of the calendar month before the date of each automatic increase, or such lesser number of shares as determined by the Board of Directors. The annual increase resulted in an additional 1,315,580 shares being reserved for issuance under the 2021 Plan as of January 1, 2026. The 2021 Plan provides for the issuance of stock options, stock appreciation rights, restricted stock awards, stock unit awards and other stock-based awards and cash incentive awards to employees, consultants and non-employee directors of the Company and its subsidiaries. Awards granted under the 2021 Plan will have such vesting schedules and other terms as determined by the Compensation Committee and stock options and stock appreciation rights have a maximum term of 10 years from the grant date. No further awards can be granted under the 2001 Plan following the adoption of the 2021 Plan. As of March 31, 2026, there were 539,390 shares available for future issuance under the 2021 Plan, based on awards outstanding and reserved at target levels for PSUs. In connection with the PSUs granted during 2026, we evaluated the number of shares that could be issued assuming maximum achievement of the applicable performance conditions. If PSUs are reserved at the maximum payout level, the number of shares subject to outstanding awards could exceed the shares available under the plan as of March 31, 2026. We expect that we will have sufficient shares available for issuance under the 2021 Plan to satisfy these awards as a result of future automatic annual increases pursuant to the terms of the plan prior to the end of the performance period.Stock OptionsOptions are granted at exercise prices not less than the fair market value of our common stock on the date of grant. Prior to our initial public offering (the “IPO”), the fair market value of our common stock was determined by our Board of Directors, and following our IPO, the fair market value of our common stock is based on the closing price of our common stock on the date of grant.During the years 2008 through the IPO, the Board of Directors authorized the grant of stock options for the purchase of shares of common stock to the employers of certain non-employee directors. The options were not granted under the 2001 Plan or the 2021 Plan, but terms are substantially the same as our standard form of option agreement for non-employee directors as they have an exercise price not less than the fair market value on the grant date and vest over 48 months from the date of grant.The following is a summary of stock option activity:<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;width:55.17%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:12.6%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:3.08%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.87%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:9.51%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.97%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.87%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:7.94%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr style=""><td style="vertical-align:bottom;width:55.17%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:12.6%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.08%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:11.39%;margin:0pt;padding:0pt;">Weighted </td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:1.97%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:9.81%;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;width:55.17%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:12.6%;margin:0pt;padding:0pt;">Number </td><td style="vertical-align:bottom;white-space:nowrap;width:3.08%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:11.39%;margin:0pt;padding:0pt;">Average </td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;margin:0pt;padding:0pt;"></td><td colspan="3" style="vertical-align:bottom;white-space:nowrap;width:11.79%;margin:0pt;padding:0pt;">Aggregate </td></tr><tr style=""><td style="vertical-align:bottom;width:55.17%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:12.6%;margin:0pt;padding:0pt;">of </td><td style="vertical-align:bottom;white-space:nowrap;width:3.08%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:11.39%;margin:0pt;padding:0pt;">Exercise </td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;margin:0pt;padding:0pt;"></td><td colspan="3" style="vertical-align:bottom;white-space:nowrap;width:11.79%;margin:0pt;padding:0pt;">Intrinsic </td></tr><tr style=""><td style="vertical-align:bottom;width:55.17%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:12.6%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Options</td><td style="vertical-align:bottom;white-space:nowrap;width:3.08%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:11.39%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Price</td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;margin:0pt;padding:0pt;"></td><td colspan="3" style="vertical-align:bottom;white-space:nowrap;width:11.79%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Value</td></tr><tr style=""><td style="vertical-align:bottom;width:55.17%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:12.6%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.08%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.51%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;margin:0pt;padding:0pt;"> </td><td colspan="3" style="vertical-align:bottom;white-space:nowrap;width:11.79%;margin:0pt;padding:0pt;">(in thousands)</td></tr><tr style=""><td style="vertical-align:bottom;width:55.17%;background:#cceeff;margin:0pt;padding:0pt;">Balance as of December 31, 2025</td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:12.6%;background:#cceeff;margin:0pt;padding:0pt;"> 5,834,448</td><td style="vertical-align:bottom;white-space:nowrap;width:3.08%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.87%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.51%;background:#cceeff;margin:0pt;padding:0pt;">11.96</td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.97%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:1.87%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.94%;background:#cceeff;margin:0pt;padding:0pt;"> 2,459</td></tr><tr style=""><td style="vertical-align:bottom;width:55.17%;margin:0pt;padding:0pt;">Granted</td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:12.6%;margin:0pt;padding:0pt;"> 1,055,100</td><td style="vertical-align:bottom;white-space:nowrap;width:3.08%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.87%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:9.51%;margin:0pt;padding:0pt;">8.16</td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:1.97%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.94%;margin:0pt;padding:0pt;"> </td></tr><tr style=""><td style="vertical-align:bottom;width:55.17%;background:#cceeff;margin:0pt;padding:0pt;">Cancelled / Forfeited</td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:12.6%;background:#cceeff;margin:0pt;padding:0pt;"> (53,549)</td><td style="vertical-align:bottom;white-space:nowrap;width:3.08%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.87%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:9.51%;background:#cceeff;margin:0pt;padding:0pt;">15.29</td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:1.97%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.87%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.94%;background:#cceeff;margin:0pt;padding:0pt;"> </td></tr><tr style=""><td style="vertical-align:bottom;width:55.17%;margin:0pt;padding:0pt;">Exercised</td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:12.6%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (36,500)</td><td style="vertical-align:bottom;white-space:nowrap;width:3.08%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.87%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:9.51%;margin:0pt;padding:0pt;">0.89</td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:1.97%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.94%;margin:0pt;padding:0pt;"> </td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:55.17%;background:#cceeff;margin:0pt;padding:0pt;">Balance as of March 31, 2026</td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:12.6%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 6,799,499</td><td style="vertical-align:bottom;white-space:nowrap;width:3.08%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.87%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.51%;background:#cceeff;margin:0pt;padding:0pt;">11.41</td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.97%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:1.87%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.94%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 8,256</td></tr><tr style=""><td style="vertical-align:bottom;width:55.17%;margin:0pt;padding:0pt;">Options exercisable as of March 31, 2026</td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:12.6%;margin:0pt;padding:0pt;"> 4,002,540</td><td style="vertical-align:bottom;white-space:nowrap;width:3.08%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.87%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.51%;margin:0pt;padding:0pt;">11.54</td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.97%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:1.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.94%;margin:0pt;padding:0pt;"> 5,787</td></tr></table>As of March 31, 2026, stock options outstanding included 4,363 options that were not granted under the 2001 Plan or the 2021 Plan. For options outstanding as of March 31, 2026, the weighted average remaining contractual life was 6.8 years. For options exercisable as of March 31, 2026, the weighted average remaining contractual life was 5.4 years. As of March 31, 2026, unrecognized compensation expense related to unvested stock-based compensation arrangements for stock options was $22.4 million. As of March 31, 2026, the related weighted average period over which the expense is expected to be recognized is approximately 2.8 years. Restricted Stock UnitsRSUs are share awards that entitle the holder to receive freely tradable shares of our common stock upon vesting. The RSUs cannot be transferred and the awards are subject to forfeiture if the holder’s service terminates prior to vesting other than for death, disability, or other qualifying terminations. The following is a summary of RSU activity:<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;width:55.17%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:12.6%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:3.08%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.87%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:9.51%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.97%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.87%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:7.94%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr style=""><td style="vertical-align:bottom;width:55.17%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:12.6%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.08%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:11.39%;margin:0pt;padding:0pt;">Weighted </td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:1.97%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:9.81%;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;width:55.17%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:12.6%;margin:0pt;padding:0pt;">Number </td><td style="vertical-align:bottom;white-space:nowrap;width:3.08%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:11.39%;margin:0pt;padding:0pt;">Average </td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;margin:0pt;padding:0pt;"></td><td colspan="3" style="vertical-align:bottom;white-space:nowrap;width:11.79%;margin:0pt;padding:0pt;">Aggregate </td></tr><tr style=""><td style="vertical-align:bottom;width:55.17%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:12.6%;margin:0pt;padding:0pt;">of </td><td style="vertical-align:bottom;white-space:nowrap;width:3.08%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:11.39%;margin:0pt;padding:0pt;">Grant Date</td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;margin:0pt;padding:0pt;"></td><td colspan="3" style="vertical-align:bottom;white-space:nowrap;width:11.79%;margin:0pt;padding:0pt;">Intrinsic </td></tr><tr style=""><td style="vertical-align:bottom;width:55.17%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:12.6%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">RSUs</td><td style="vertical-align:bottom;white-space:nowrap;width:3.08%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:11.39%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Fair Value</td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;margin:0pt;padding:0pt;"></td><td colspan="3" style="vertical-align:bottom;white-space:nowrap;width:11.79%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Value</td></tr><tr style=""><td style="vertical-align:bottom;width:55.17%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:12.6%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.08%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.51%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;margin:0pt;padding:0pt;"> </td><td colspan="3" style="vertical-align:bottom;white-space:nowrap;width:11.79%;margin:0pt;padding:0pt;">(in thousands)</td></tr><tr style=""><td style="vertical-align:bottom;width:55.17%;background:#cceeff;margin:0pt;padding:0pt;">Unvested Balance as of December 31, 2025</td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:12.6%;background:#cceeff;margin:0pt;padding:0pt;"> 383,268</td><td style="vertical-align:bottom;white-space:nowrap;width:3.08%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.87%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.51%;background:#cceeff;margin:0pt;padding:0pt;">12.11</td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.97%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:1.87%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.94%;background:#cceeff;margin:0pt;padding:0pt;"> 2,721</td></tr><tr style=""><td style="vertical-align:bottom;width:55.17%;margin:0pt;padding:0pt;">Granted</td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:12.6%;margin:0pt;padding:0pt;"> 622,555</td><td style="vertical-align:bottom;white-space:nowrap;width:3.08%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.87%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:9.51%;margin:0pt;padding:0pt;">8.16</td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:1.97%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.94%;margin:0pt;padding:0pt;"> </td></tr><tr style=""><td style="vertical-align:bottom;width:55.17%;background:#cceeff;margin:0pt;padding:0pt;">Vested</td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:12.6%;background:#cceeff;margin:0pt;padding:0pt;"> (80,660)</td><td style="vertical-align:bottom;white-space:nowrap;width:3.08%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.87%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:9.51%;background:#cceeff;margin:0pt;padding:0pt;">12.96</td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:1.97%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.87%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.94%;background:#cceeff;margin:0pt;padding:0pt;"> </td></tr><tr style=""><td style="vertical-align:bottom;width:55.17%;margin:0pt;padding:0pt;">Cancelled / Forfeited</td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:12.6%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (2,865)</td><td style="vertical-align:bottom;white-space:nowrap;width:3.08%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.87%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:9.51%;margin:0pt;padding:0pt;">10.45</td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:1.97%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.94%;margin:0pt;padding:0pt;"> </td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:55.17%;background:#cceeff;margin:0pt;padding:0pt;">Unvested Balance as of March 31, 2026</td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:12.6%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 922,298</td><td style="vertical-align:bottom;white-space:nowrap;width:3.08%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.87%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.51%;background:#cceeff;margin:0pt;padding:0pt;"> 9.37</td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.97%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:1.87%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.94%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 8,725</td></tr></table>The aggregate intrinsic value of unvested RSUs is based on our closing stock price on the last trading day of the period. 80,660 RSUs were vested as of March 31, 2026. As of March 31, 2026, the unrecognized compensation expense related to unvested stock-based compensation arrangements for RSUs was $8.4 million. As of March 31, 2026, the related weighted average period over which the expense is expected to be recognized is approximately 3.6 years.Performance Stock UnitsWe grant PSUs to officers and key employees. The number of PSUs that will ultimately be earned is based on our performance relative to pre-established performance goals for the respective performance period. The expense is recorded on a straight-line basis over the requisite performance and service periods based on an estimate of the number of PSUs expected to vest. Management expectations related to the achievement of the performance goals associated with PSU grants are assessed each reporting period. The number of PSUs earned at the end of the performance period ranges from 0% to 200% of the number of PSU’s granted. The PSUs cannot be transferred and the awards are subject to forfeiture if the holder’s service terminates prior to vesting other than for death, disability, or other qualifying terminations. If the performance conditions are not met or not expected to be met, any compensation expense recognized associated with the grant will be reversed.The following is a summary of PSU activity:<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;width:55.13%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.95%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:12.62%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:3.12%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.86%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:9.51%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.95%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.01%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.86%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:7.94%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr style=""><td style="vertical-align:bottom;width:55.13%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.95%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:12.62%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.12%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:11.38%;margin:0pt;padding:0pt;">Weighted </td><td style="vertical-align:bottom;white-space:nowrap;width:2.95%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:2.01%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:9.8%;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;width:55.13%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.95%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:12.62%;margin:0pt;padding:0pt;">Number </td><td style="vertical-align:bottom;white-space:nowrap;width:3.12%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:11.38%;margin:0pt;padding:0pt;">Average </td><td style="vertical-align:bottom;white-space:nowrap;width:2.95%;margin:0pt;padding:0pt;"></td><td colspan="3" style="vertical-align:bottom;white-space:nowrap;width:11.82%;margin:0pt;padding:0pt;">Aggregate </td></tr><tr style=""><td style="vertical-align:bottom;width:55.13%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.95%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:12.62%;margin:0pt;padding:0pt;">of </td><td style="vertical-align:bottom;white-space:nowrap;width:3.12%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:11.38%;margin:0pt;padding:0pt;">Grant Date</td><td style="vertical-align:bottom;white-space:nowrap;width:2.95%;margin:0pt;padding:0pt;"></td><td colspan="3" style="vertical-align:bottom;white-space:nowrap;width:11.82%;margin:0pt;padding:0pt;">Intrinsic </td></tr><tr style=""><td style="vertical-align:bottom;width:55.13%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.95%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:12.62%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">PSUs</td><td style="vertical-align:bottom;white-space:nowrap;width:3.12%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:11.38%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Fair Value</td><td style="vertical-align:bottom;white-space:nowrap;width:2.95%;margin:0pt;padding:0pt;"></td><td colspan="3" style="vertical-align:bottom;white-space:nowrap;width:11.82%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Value</td></tr><tr style=""><td style="vertical-align:bottom;width:55.13%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.95%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:12.62%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.12%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.86%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.51%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.95%;margin:0pt;padding:0pt;"> </td><td colspan="3" style="vertical-align:bottom;white-space:nowrap;width:11.82%;margin:0pt;padding:0pt;">(in thousands)</td></tr><tr style=""><td style="vertical-align:bottom;width:55.13%;background:#cceeff;margin:0pt;padding:0pt;">Unvested Balance as of December 31, 2025</td><td style="vertical-align:bottom;white-space:nowrap;width:2.95%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:12.62%;background:#cceeff;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:3.12%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.86%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.51%;background:#cceeff;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:2.95%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.01%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:1.86%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.94%;background:#cceeff;margin:0pt;padding:0pt;"> —</td></tr><tr style=""><td style="vertical-align:bottom;width:55.13%;margin:0pt;padding:0pt;">Granted</td><td style="vertical-align:bottom;white-space:nowrap;width:2.95%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:12.62%;margin:0pt;padding:0pt;"> 602,000</td><td style="vertical-align:bottom;white-space:nowrap;width:3.12%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.86%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:9.51%;margin:0pt;padding:0pt;"> 8.16</td><td style="vertical-align:bottom;white-space:nowrap;width:2.95%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:2.01%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.86%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.94%;margin:0pt;padding:0pt;"> </td></tr><tr style=""><td style="vertical-align:bottom;width:55.13%;background:#cceeff;margin:0pt;padding:0pt;">Vested</td><td style="vertical-align:bottom;white-space:nowrap;width:2.95%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:12.62%;background:#cceeff;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:3.12%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.86%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:9.51%;background:#cceeff;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:2.95%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:2.01%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.86%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.94%;background:#cceeff;margin:0pt;padding:0pt;"> </td></tr><tr style=""><td style="vertical-align:bottom;width:55.13%;margin:0pt;padding:0pt;">Cancelled / Forfeited</td><td style="vertical-align:bottom;white-space:nowrap;width:2.95%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:12.62%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:3.12%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.86%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:9.51%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:2.95%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:2.01%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.86%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.94%;margin:0pt;padding:0pt;"> </td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:55.13%;background:#cceeff;margin:0pt;padding:0pt;">Unvested Balance as of March 31, 2026</td><td style="vertical-align:bottom;white-space:nowrap;width:2.95%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:12.62%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 602,000</td><td style="vertical-align:bottom;white-space:nowrap;width:3.12%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.86%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.51%;background:#cceeff;margin:0pt;padding:0pt;"> 8.16</td><td style="vertical-align:bottom;white-space:nowrap;width:2.95%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.01%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:1.86%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.94%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 5,695</td></tr></table>The aggregate intrinsic value of unvested PSUs is based on our closing stock price on the last trading day of the period. As of March 31, 2026, there was $4.7 million of unrecognized stock-based compensation expense related to outstanding PSUs that is expected to be recognized over a weighted-average period of 2.3 years.Employee Stock Purchase PlanOur Board of Directors and stockholders also established an Employee Stock Purchase Plan (the “ESPP”). The number of shares of common stock initially reserved for issuance under the ESPP was 278,170. The shares available for issuance under the ESPP automatically increase on the first day of each year, commencing January 1, 2022, and ending on (and including) January 1, 2031, in an amount equal to 1% of the total number of shares of our common stock outstanding on the last day of the calendar month before the date of each automatic increase, or such lesser number of shares as determined by the Board of Directors. No annual increase was made to the shares reserved for issuance under the ESPP as of January 1, 2026. The ESPP permits certain of our U.S. employees to purchase shares of our common stock at a price per share not less than 85% of the lower of (i) the closing market price per share of our common stock on the first day of the applicable purchase period or (ii) the closing market price per share of our common stock on the purchase date at the end of the applicable six-month purchase period. For the three months ended March 31, 2026, there were no shares of common stock purchased under the ESPP. As of March 31, 2026, there were 737,396 shares available for issuance under the ESPP. Stock-based compensation expenseWe use the Black-Scholes option pricing model to determine the fair value of stock options and ESPP purchase rights on the grant date. The fair values of RSUs and PSUs are determined based on the closing stock price of our common stock on the grant date. We measure stock-based compensation expense based on the grant date fair value of the award and recognize compensation expense over the requisite service period, which is generally the vesting period for stock options, RSUs, and PSUs, and the offering period for ESPP purchase rights. The amount of stock-based compensation expense recognized for stock option, RSU and PSU awards during a period is based on the portion of the awards that are ultimately expected to vest. The amount of stock-based compensation expense recognized for ESPP purchase rights during a period is based on the estimated purchase rights as of the grant date. We account for forfeitures as they occur.The following table provides the weighted average fair value of options granted to employees and the related assumptions used in the Black-Scholes option pricing model for the three months ended March 31, 2026 and 2025: <table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:-0.07212067%;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;width:65.28%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.83%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.15%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:13.42%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.83%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:0.06%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.15%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:13.42%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.83%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr style=""><td style="vertical-align:bottom;width:65.28%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.83%;margin:0pt;padding:0pt;"> </td><td colspan="6" style="vertical-align:bottom;white-space:nowrap;width:31.04%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">March 31, </td><td style="vertical-align:bottom;white-space:nowrap;width:1.83%;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;width:65.28%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.83%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.15%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.42%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2026</td><td style="vertical-align:bottom;white-space:nowrap;width:1.83%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:0.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.15%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.42%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2025</td><td style="vertical-align:bottom;white-space:nowrap;width:1.83%;margin:0pt;padding:0pt;"> </td></tr><tr style=""><td style="vertical-align:bottom;width:65.28%;background:#cceeff;margin:0pt;padding:0pt;">Weighted average fair value of options granted</td><td style="vertical-align:bottom;white-space:nowrap;width:1.83%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:1.15%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.42%;background:#cceeff;margin:0pt;padding:0pt;">6.50</td><td style="vertical-align:bottom;white-space:nowrap;width:1.83%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.15%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.42%;background:#cceeff;margin:0pt;padding:0pt;">10.44</td><td style="vertical-align:bottom;white-space:nowrap;width:1.83%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;width:65.28%;margin:0pt;padding:0pt;">Expected term (in years) — non-officer employees</td><td style="vertical-align:bottom;white-space:nowrap;width:1.83%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:1.15%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.42%;margin:0pt;padding:0pt;">6.1</td><td style="vertical-align:bottom;white-space:nowrap;width:1.83%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.15%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.42%;margin:0pt;padding:0pt;">5.5 to 6.1</td><td style="vertical-align:bottom;white-space:nowrap;width:1.83%;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;width:65.28%;background:#cceeff;margin:0pt;padding:0pt;">Expected term (in years) — officer employees</td><td style="vertical-align:bottom;white-space:nowrap;width:1.83%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:1.15%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.42%;background:#cceeff;margin:0pt;padding:0pt;">6.1</td><td style="vertical-align:bottom;white-space:nowrap;width:1.83%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.15%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.42%;background:#cceeff;margin:0pt;padding:0pt;">6.1</td><td style="vertical-align:bottom;white-space:nowrap;width:1.83%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;width:65.28%;margin:0pt;padding:0pt;">Expected volatility</td><td style="vertical-align:bottom;white-space:nowrap;width:1.83%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:1.15%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.42%;margin:0pt;padding:0pt;">98.5% to 99.1</td><td style="vertical-align:bottom;white-space:nowrap;width:1.83%;margin:0pt;padding:0pt;">%</td><td style="vertical-align:bottom;white-space:nowrap;width:0.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.15%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.42%;margin:0pt;padding:0pt;">95.0% to 96.5</td><td style="vertical-align:bottom;white-space:nowrap;width:1.83%;margin:0pt;padding:0pt;">%</td></tr><tr style=""><td style="vertical-align:bottom;width:65.28%;background:#cceeff;margin:0pt;padding:0pt;">Expected dividend yield</td><td style="vertical-align:bottom;white-space:nowrap;width:1.83%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:1.15%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.42%;background:#cceeff;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:1.83%;background:#cceeff;margin:0pt;padding:0pt;">%</td><td style="vertical-align:bottom;white-space:nowrap;width:0.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.15%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.42%;background:#cceeff;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:1.83%;background:#cceeff;margin:0pt;padding:0pt;">%</td></tr><tr style=""><td style="vertical-align:bottom;width:65.28%;margin:0pt;padding:0pt;">Risk-free interest rate</td><td style="vertical-align:bottom;white-space:nowrap;width:1.83%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:1.15%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.42%;margin:0pt;padding:0pt;">3.72% to 4.11</td><td style="vertical-align:bottom;white-space:nowrap;width:1.83%;margin:0pt;padding:0pt;">%</td><td style="vertical-align:bottom;white-space:nowrap;width:0.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.15%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.42%;margin:0pt;padding:0pt;">4.09% to 4.47</td><td style="vertical-align:bottom;white-space:nowrap;width:1.83%;margin:0pt;padding:0pt;">%</td></tr></table>The following table provides the weighted average fair value of ESPP purchase rights and the related assumptions used in the Black-Scholes option pricing model for the three months ended March 31, 2026 and 2025:<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;width:66.26%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.09%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.32%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:10.95%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.83%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.09%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.32%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:12.01%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.09%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr style=""><td style="vertical-align:bottom;width:66.26%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.09%;margin:0pt;padding:0pt;"> </td><td colspan="6" style="vertical-align:bottom;white-space:nowrap;width:29.54%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">March 31, </td><td style="vertical-align:bottom;white-space:nowrap;width:2.09%;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;width:66.26%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.09%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.32%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.95%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2026</td><td style="vertical-align:bottom;white-space:nowrap;width:1.83%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:2.09%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.32%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:12.01%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2025</td><td style="vertical-align:bottom;white-space:nowrap;width:2.09%;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;width:66.26%;background:#cceeff;margin:0pt;padding:0pt;">Weighted average fair value per ESPP purchase right</td><td style="vertical-align:bottom;white-space:nowrap;width:2.09%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:1.32%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.95%;background:#cceeff;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:1.83%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.09%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.32%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.01%;background:#cceeff;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:2.09%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;width:66.26%;margin:0pt;padding:0pt;">Expected term (in years) </td><td style="vertical-align:bottom;white-space:nowrap;width:2.09%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:1.32%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.95%;margin:0pt;padding:0pt;">0.5</td><td style="vertical-align:bottom;white-space:nowrap;width:1.83%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.09%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.32%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:12.01%;margin:0pt;padding:0pt;">0.5</td><td style="vertical-align:bottom;white-space:nowrap;width:2.09%;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;width:66.26%;background:#cceeff;margin:0pt;padding:0pt;">Expected volatility</td><td style="vertical-align:bottom;white-space:nowrap;width:2.09%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:1.32%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.95%;background:#cceeff;margin:0pt;padding:0pt;">61.1</td><td style="vertical-align:bottom;white-space:nowrap;width:1.83%;background:#cceeff;margin:0pt;padding:0pt;">%</td><td style="vertical-align:bottom;white-space:nowrap;width:2.09%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.32%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:12.01%;background:#cceeff;margin:0pt;padding:0pt;"> 112.3</td><td style="vertical-align:bottom;white-space:nowrap;width:2.09%;background:#cceeff;margin:0pt;padding:0pt;">%</td></tr><tr style=""><td style="vertical-align:bottom;width:66.26%;margin:0pt;padding:0pt;">Expected dividend yield</td><td style="vertical-align:bottom;white-space:nowrap;width:2.09%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:1.32%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.95%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:1.83%;margin:0pt;padding:0pt;">%</td><td style="vertical-align:bottom;white-space:nowrap;width:2.09%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.32%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:12.01%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:2.09%;margin:0pt;padding:0pt;">%</td></tr><tr style=""><td style="vertical-align:bottom;width:66.26%;background:#cceeff;margin:0pt;padding:0pt;">Risk-free interest rate</td><td style="vertical-align:bottom;white-space:nowrap;width:2.09%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:1.32%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.95%;background:#cceeff;margin:0pt;padding:0pt;">3.58</td><td style="vertical-align:bottom;white-space:nowrap;width:1.83%;background:#cceeff;margin:0pt;padding:0pt;">%</td><td style="vertical-align:bottom;white-space:nowrap;width:2.09%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.32%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:12.01%;background:#cceeff;margin:0pt;padding:0pt;"> 4.25</td><td style="vertical-align:bottom;white-space:nowrap;width:2.09%;background:#cceeff;margin:0pt;padding:0pt;">%</td></tr></table>We review these assumptions on a periodic basis and adjust them, as necessary. We utilize the simplified method to develop the estimate of the expected term for stock option awards and ESPP purchase rights. The expected volatility is based upon our historical stock price. The expected dividend yield is assumed to be zero, as we have never paid dividends and have no current plans to do so. The risk-free interest rate is based on the yield on U.S. Treasury securities for a period approximating the expected term of the options being valued.The following table presents the components and classification of stock-based compensation expense for the periods indicated:<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;width:73.78%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.42%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:9.24%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.33%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:9.24%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr style=""><td style="vertical-align:bottom;width:73.78%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.42%;margin:0pt;padding:0pt;"></td><td colspan="5" style="vertical-align:bottom;white-space:nowrap;width:23.78%;margin:0pt;padding:0pt;">Three months ended </td></tr><tr style=""><td style="vertical-align:bottom;width:73.78%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.42%;margin:0pt;padding:0pt;"> </td><td colspan="5" style="vertical-align:bottom;white-space:nowrap;width:23.78%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">March 31, </td></tr><tr style=""><td style="vertical-align:bottom;width:73.78%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">(in thousands)</td><td style="vertical-align:bottom;white-space:nowrap;width:2.42%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:10.72%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2026</td><td style="vertical-align:bottom;white-space:nowrap;width:2.33%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:10.72%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2025</td></tr><tr style=""><td style="vertical-align:bottom;width:73.78%;background:#cceeff;margin:0pt;padding:0pt;">Options</td><td style="vertical-align:bottom;white-space:nowrap;width:2.42%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.24%;background:#cceeff;margin:0pt;padding:0pt;"> 2,231</td><td style="vertical-align:bottom;white-space:nowrap;width:2.33%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.24%;background:#cceeff;margin:0pt;padding:0pt;"> 2,214</td></tr><tr style=""><td style="vertical-align:bottom;width:73.78%;margin:0pt;padding:0pt;">RSUs</td><td style="vertical-align:bottom;white-space:nowrap;width:2.42%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.24%;margin:0pt;padding:0pt;"> 395</td><td style="vertical-align:bottom;white-space:nowrap;width:2.33%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.24%;margin:0pt;padding:0pt;"> 92</td></tr><tr style=""><td style="vertical-align:bottom;width:73.78%;background:#cceeff;margin:0pt;padding:0pt;">PSUs</td><td style="vertical-align:bottom;white-space:nowrap;width:2.42%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.24%;background:#cceeff;margin:0pt;padding:0pt;"> 192</td><td style="vertical-align:bottom;white-space:nowrap;width:2.33%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.24%;background:#cceeff;margin:0pt;padding:0pt;"> —</td></tr><tr style=""><td style="vertical-align:bottom;width:73.78%;margin:0pt;padding:0pt;">Employee Stock Purchase Plan</td><td style="vertical-align:bottom;white-space:nowrap;width:2.42%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.24%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 98</td><td style="vertical-align:bottom;white-space:nowrap;width:2.33%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.24%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 149</td></tr><tr style=""><td style="vertical-align:bottom;width:73.78%;background:#cceeff;margin:0pt;padding:0pt;">Total stock-based compensation expense</td><td style="vertical-align:bottom;white-space:nowrap;width:2.42%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.24%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 2,916</td><td style="vertical-align:bottom;white-space:nowrap;width:2.33%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.24%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 2,455</td></tr><tr style=""><td style="vertical-align:bottom;width:73.78%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.42%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.24%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.33%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.24%;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;width:73.78%;background:#cceeff;margin:0pt;padding:0pt;">Selling, general & administrative</td><td style="vertical-align:bottom;white-space:nowrap;width:2.42%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.24%;background:#cceeff;margin:0pt;padding:0pt;"> 2,576</td><td style="vertical-align:bottom;white-space:nowrap;width:2.33%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.24%;background:#cceeff;margin:0pt;padding:0pt;"> 2,255</td></tr><tr style=""><td style="vertical-align:bottom;width:73.78%;margin:0pt;padding:0pt;">Research & development</td><td style="vertical-align:bottom;white-space:nowrap;width:2.42%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.24%;margin:0pt;padding:0pt;"> 308</td><td style="vertical-align:bottom;white-space:nowrap;width:2.33%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.24%;margin:0pt;padding:0pt;"> 165</td></tr><tr style=""><td style="vertical-align:bottom;width:73.78%;background:#cceeff;margin:0pt;padding:0pt;">Cost of goods sold</td><td style="vertical-align:bottom;white-space:nowrap;width:2.42%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.24%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 32</td><td style="vertical-align:bottom;white-space:nowrap;width:2.33%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.24%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 35</td></tr><tr style=""><td style="vertical-align:bottom;width:73.78%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.42%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.24%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 2,916</td><td style="vertical-align:bottom;white-space:nowrap;width:2.33%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.24%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 2,455</td></tr></table>

2674749

P4Y

P10Y

1854490

600737

0.05

1315580

P10Y

539390

P48M

The following is a summary of stock option activity:<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;width:55.17%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:12.6%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:3.08%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.87%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:9.51%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.97%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.87%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:7.94%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr style=""><td style="vertical-align:bottom;width:55.17%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:12.6%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.08%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:11.39%;margin:0pt;padding:0pt;">Weighted </td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:1.97%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:9.81%;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;width:55.17%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:12.6%;margin:0pt;padding:0pt;">Number </td><td style="vertical-align:bottom;white-space:nowrap;width:3.08%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:11.39%;margin:0pt;padding:0pt;">Average </td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;margin:0pt;padding:0pt;"></td><td colspan="3" style="vertical-align:bottom;white-space:nowrap;width:11.79%;margin:0pt;padding:0pt;">Aggregate </td></tr><tr style=""><td style="vertical-align:bottom;width:55.17%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:12.6%;margin:0pt;padding:0pt;">of </td><td style="vertical-align:bottom;white-space:nowrap;width:3.08%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:11.39%;margin:0pt;padding:0pt;">Exercise </td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;margin:0pt;padding:0pt;"></td><td colspan="3" style="vertical-align:bottom;white-space:nowrap;width:11.79%;margin:0pt;padding:0pt;">Intrinsic </td></tr><tr style=""><td style="vertical-align:bottom;width:55.17%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:12.6%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Options</td><td style="vertical-align:bottom;white-space:nowrap;width:3.08%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:11.39%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Price</td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;margin:0pt;padding:0pt;"></td><td colspan="3" style="vertical-align:bottom;white-space:nowrap;width:11.79%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Value</td></tr><tr style=""><td style="vertical-align:bottom;width:55.17%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:12.6%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.08%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.51%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;margin:0pt;padding:0pt;"> </td><td colspan="3" style="vertical-align:bottom;white-space:nowrap;width:11.79%;margin:0pt;padding:0pt;">(in thousands)</td></tr><tr style=""><td style="vertical-align:bottom;width:55.17%;background:#cceeff;margin:0pt;padding:0pt;">Balance as of December 31, 2025</td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:12.6%;background:#cceeff;margin:0pt;padding:0pt;"> 5,834,448</td><td style="vertical-align:bottom;white-space:nowrap;width:3.08%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.87%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.51%;background:#cceeff;margin:0pt;padding:0pt;">11.96</td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.97%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:1.87%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.94%;background:#cceeff;margin:0pt;padding:0pt;"> 2,459</td></tr><tr style=""><td style="vertical-align:bottom;width:55.17%;margin:0pt;padding:0pt;">Granted</td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:12.6%;margin:0pt;padding:0pt;"> 1,055,100</td><td style="vertical-align:bottom;white-space:nowrap;width:3.08%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.87%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:9.51%;margin:0pt;padding:0pt;">8.16</td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:1.97%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.94%;margin:0pt;padding:0pt;"> </td></tr><tr style=""><td style="vertical-align:bottom;width:55.17%;background:#cceeff;margin:0pt;padding:0pt;">Cancelled / Forfeited</td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:12.6%;background:#cceeff;margin:0pt;padding:0pt;"> (53,549)</td><td style="vertical-align:bottom;white-space:nowrap;width:3.08%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.87%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:9.51%;background:#cceeff;margin:0pt;padding:0pt;">15.29</td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:1.97%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.87%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.94%;background:#cceeff;margin:0pt;padding:0pt;"> </td></tr><tr style=""><td style="vertical-align:bottom;width:55.17%;margin:0pt;padding:0pt;">Exercised</td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:12.6%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (36,500)</td><td style="vertical-align:bottom;white-space:nowrap;width:3.08%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.87%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:9.51%;margin:0pt;padding:0pt;">0.89</td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:1.97%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.94%;margin:0pt;padding:0pt;"> </td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:55.17%;background:#cceeff;margin:0pt;padding:0pt;">Balance as of March 31, 2026</td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:12.6%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 6,799,499</td><td style="vertical-align:bottom;white-space:nowrap;width:3.08%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.87%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.51%;background:#cceeff;margin:0pt;padding:0pt;">11.41</td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.97%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:1.87%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.94%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 8,256</td></tr><tr style=""><td style="vertical-align:bottom;width:55.17%;margin:0pt;padding:0pt;">Options exercisable as of March 31, 2026</td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:12.6%;margin:0pt;padding:0pt;"> 4,002,540</td><td style="vertical-align:bottom;white-space:nowrap;width:3.08%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.87%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.51%;margin:0pt;padding:0pt;">11.54</td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.97%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:1.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.94%;margin:0pt;padding:0pt;"> 5,787</td></tr></table>

5834448

11.96

2459000

1055100

8.16

53549

15.29

36500

0.89

6799499

11.41

8256000

4002540

11.54

5787000

4363

P6Y9M18D

P5Y4M24D

22400000

P2Y9M18D

<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;width:55.17%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:12.6%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:3.08%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.87%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:9.51%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.97%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.87%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:7.94%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr style=""><td style="vertical-align:bottom;width:55.17%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:12.6%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.08%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:11.39%;margin:0pt;padding:0pt;">Weighted </td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:1.97%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:9.81%;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;width:55.17%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:12.6%;margin:0pt;padding:0pt;">Number </td><td style="vertical-align:bottom;white-space:nowrap;width:3.08%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:11.39%;margin:0pt;padding:0pt;">Average </td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;margin:0pt;padding:0pt;"></td><td colspan="3" style="vertical-align:bottom;white-space:nowrap;width:11.79%;margin:0pt;padding:0pt;">Aggregate </td></tr><tr style=""><td style="vertical-align:bottom;width:55.17%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:12.6%;margin:0pt;padding:0pt;">of </td><td style="vertical-align:bottom;white-space:nowrap;width:3.08%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:11.39%;margin:0pt;padding:0pt;">Grant Date</td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;margin:0pt;padding:0pt;"></td><td colspan="3" style="vertical-align:bottom;white-space:nowrap;width:11.79%;margin:0pt;padding:0pt;">Intrinsic </td></tr><tr style=""><td style="vertical-align:bottom;width:55.17%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:12.6%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">RSUs</td><td style="vertical-align:bottom;white-space:nowrap;width:3.08%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:11.39%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Fair Value</td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;margin:0pt;padding:0pt;"></td><td colspan="3" style="vertical-align:bottom;white-space:nowrap;width:11.79%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Value</td></tr><tr style=""><td style="vertical-align:bottom;width:55.17%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:12.6%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.08%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.51%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;margin:0pt;padding:0pt;"> </td><td colspan="3" style="vertical-align:bottom;white-space:nowrap;width:11.79%;margin:0pt;padding:0pt;">(in thousands)</td></tr><tr style=""><td style="vertical-align:bottom;width:55.17%;background:#cceeff;margin:0pt;padding:0pt;">Unvested Balance as of December 31, 2025</td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:12.6%;background:#cceeff;margin:0pt;padding:0pt;"> 383,268</td><td style="vertical-align:bottom;white-space:nowrap;width:3.08%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.87%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.51%;background:#cceeff;margin:0pt;padding:0pt;">12.11</td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.97%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:1.87%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.94%;background:#cceeff;margin:0pt;padding:0pt;"> 2,721</td></tr><tr style=""><td style="vertical-align:bottom;width:55.17%;margin:0pt;padding:0pt;">Granted</td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:12.6%;margin:0pt;padding:0pt;"> 622,555</td><td style="vertical-align:bottom;white-space:nowrap;width:3.08%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.87%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:9.51%;margin:0pt;padding:0pt;">8.16</td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:1.97%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.94%;margin:0pt;padding:0pt;"> </td></tr><tr style=""><td style="vertical-align:bottom;width:55.17%;background:#cceeff;margin:0pt;padding:0pt;">Vested</td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:12.6%;background:#cceeff;margin:0pt;padding:0pt;"> (80,660)</td><td style="vertical-align:bottom;white-space:nowrap;width:3.08%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.87%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:9.51%;background:#cceeff;margin:0pt;padding:0pt;">12.96</td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:1.97%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.87%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.94%;background:#cceeff;margin:0pt;padding:0pt;"> </td></tr><tr style=""><td style="vertical-align:bottom;width:55.17%;margin:0pt;padding:0pt;">Cancelled / Forfeited</td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:12.6%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> (2,865)</td><td style="vertical-align:bottom;white-space:nowrap;width:3.08%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.87%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:9.51%;margin:0pt;padding:0pt;">10.45</td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:1.97%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.87%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.94%;margin:0pt;padding:0pt;"> </td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:55.17%;background:#cceeff;margin:0pt;padding:0pt;">Unvested Balance as of March 31, 2026</td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:12.6%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 922,298</td><td style="vertical-align:bottom;white-space:nowrap;width:3.08%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.87%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.51%;background:#cceeff;margin:0pt;padding:0pt;"> 9.37</td><td style="vertical-align:bottom;white-space:nowrap;width:2.97%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.97%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:1.87%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.94%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 8,725</td></tr></table>

383268

12.11

2721000

622555

8.16

80660

12.96

2865

10.45

922298

9.37

8725000

80660

8400000

P3Y7M6D

<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;width:55.13%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.95%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:12.62%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:3.12%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.86%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:9.51%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.95%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.01%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.86%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:7.94%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr style=""><td style="vertical-align:bottom;width:55.13%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.95%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:12.62%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.12%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:11.38%;margin:0pt;padding:0pt;">Weighted </td><td style="vertical-align:bottom;white-space:nowrap;width:2.95%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:2.01%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:9.8%;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;width:55.13%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.95%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:12.62%;margin:0pt;padding:0pt;">Number </td><td style="vertical-align:bottom;white-space:nowrap;width:3.12%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:11.38%;margin:0pt;padding:0pt;">Average </td><td style="vertical-align:bottom;white-space:nowrap;width:2.95%;margin:0pt;padding:0pt;"></td><td colspan="3" style="vertical-align:bottom;white-space:nowrap;width:11.82%;margin:0pt;padding:0pt;">Aggregate </td></tr><tr style=""><td style="vertical-align:bottom;width:55.13%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.95%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:12.62%;margin:0pt;padding:0pt;">of </td><td style="vertical-align:bottom;white-space:nowrap;width:3.12%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:11.38%;margin:0pt;padding:0pt;">Grant Date</td><td style="vertical-align:bottom;white-space:nowrap;width:2.95%;margin:0pt;padding:0pt;"></td><td colspan="3" style="vertical-align:bottom;white-space:nowrap;width:11.82%;margin:0pt;padding:0pt;">Intrinsic </td></tr><tr style=""><td style="vertical-align:bottom;width:55.13%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.95%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:12.62%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">PSUs</td><td style="vertical-align:bottom;white-space:nowrap;width:3.12%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:11.38%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Fair Value</td><td style="vertical-align:bottom;white-space:nowrap;width:2.95%;margin:0pt;padding:0pt;"></td><td colspan="3" style="vertical-align:bottom;white-space:nowrap;width:11.82%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">Value</td></tr><tr style=""><td style="vertical-align:bottom;width:55.13%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.95%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:12.62%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:3.12%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.86%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.51%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.95%;margin:0pt;padding:0pt;"> </td><td colspan="3" style="vertical-align:bottom;white-space:nowrap;width:11.82%;margin:0pt;padding:0pt;">(in thousands)</td></tr><tr style=""><td style="vertical-align:bottom;width:55.13%;background:#cceeff;margin:0pt;padding:0pt;">Unvested Balance as of December 31, 2025</td><td style="vertical-align:bottom;white-space:nowrap;width:2.95%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:12.62%;background:#cceeff;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:3.12%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.86%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.51%;background:#cceeff;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:2.95%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.01%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:1.86%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.94%;background:#cceeff;margin:0pt;padding:0pt;"> —</td></tr><tr style=""><td style="vertical-align:bottom;width:55.13%;margin:0pt;padding:0pt;">Granted</td><td style="vertical-align:bottom;white-space:nowrap;width:2.95%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:12.62%;margin:0pt;padding:0pt;"> 602,000</td><td style="vertical-align:bottom;white-space:nowrap;width:3.12%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.86%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:9.51%;margin:0pt;padding:0pt;"> 8.16</td><td style="vertical-align:bottom;white-space:nowrap;width:2.95%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:2.01%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.86%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.94%;margin:0pt;padding:0pt;"> </td></tr><tr style=""><td style="vertical-align:bottom;width:55.13%;background:#cceeff;margin:0pt;padding:0pt;">Vested</td><td style="vertical-align:bottom;white-space:nowrap;width:2.95%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:12.62%;background:#cceeff;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:3.12%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.86%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:9.51%;background:#cceeff;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:2.95%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:2.01%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.86%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.94%;background:#cceeff;margin:0pt;padding:0pt;"> </td></tr><tr style=""><td style="vertical-align:bottom;width:55.13%;margin:0pt;padding:0pt;">Cancelled / Forfeited</td><td style="vertical-align:bottom;white-space:nowrap;width:2.95%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:12.62%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:3.12%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.86%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:9.51%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:2.95%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:2.01%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.86%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.94%;margin:0pt;padding:0pt;"> </td></tr><tr style=""><td style="vertical-align:bottom;white-space:nowrap;width:55.13%;background:#cceeff;margin:0pt;padding:0pt;">Unvested Balance as of March 31, 2026</td><td style="vertical-align:bottom;white-space:nowrap;width:2.95%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:12.62%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 602,000</td><td style="vertical-align:bottom;white-space:nowrap;width:3.12%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.86%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.51%;background:#cceeff;margin:0pt;padding:0pt;"> 8.16</td><td style="vertical-align:bottom;white-space:nowrap;width:2.95%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.01%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:1.86%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:7.94%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 5,695</td></tr></table>

602000

8.16

602000

8.16

5695000

4700000

P2Y3M18D

278170

0.01 0.85

737396

The following table provides the weighted average fair value of options granted to employees and the related assumptions used in the Black-Scholes option pricing model for the three months ended March 31, 2026 and 2025: <table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:-0.07212067%;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;width:65.28%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.83%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.15%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:13.42%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.83%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:0.06%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.15%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:13.42%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.83%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr style=""><td style="vertical-align:bottom;width:65.28%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.83%;margin:0pt;padding:0pt;"> </td><td colspan="6" style="vertical-align:bottom;white-space:nowrap;width:31.04%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">March 31, </td><td style="vertical-align:bottom;white-space:nowrap;width:1.83%;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;width:65.28%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.83%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.15%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.42%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2026</td><td style="vertical-align:bottom;white-space:nowrap;width:1.83%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:0.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.15%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.42%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2025</td><td style="vertical-align:bottom;white-space:nowrap;width:1.83%;margin:0pt;padding:0pt;"> </td></tr><tr style=""><td style="vertical-align:bottom;width:65.28%;background:#cceeff;margin:0pt;padding:0pt;">Weighted average fair value of options granted</td><td style="vertical-align:bottom;white-space:nowrap;width:1.83%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:1.15%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.42%;background:#cceeff;margin:0pt;padding:0pt;">6.50</td><td style="vertical-align:bottom;white-space:nowrap;width:1.83%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.15%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:13.42%;background:#cceeff;margin:0pt;padding:0pt;">10.44</td><td style="vertical-align:bottom;white-space:nowrap;width:1.83%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;width:65.28%;margin:0pt;padding:0pt;">Expected term (in years) — non-officer employees</td><td style="vertical-align:bottom;white-space:nowrap;width:1.83%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:1.15%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.42%;margin:0pt;padding:0pt;">6.1</td><td style="vertical-align:bottom;white-space:nowrap;width:1.83%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.15%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.42%;margin:0pt;padding:0pt;">5.5 to 6.1</td><td style="vertical-align:bottom;white-space:nowrap;width:1.83%;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;width:65.28%;background:#cceeff;margin:0pt;padding:0pt;">Expected term (in years) — officer employees</td><td style="vertical-align:bottom;white-space:nowrap;width:1.83%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:1.15%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.42%;background:#cceeff;margin:0pt;padding:0pt;">6.1</td><td style="vertical-align:bottom;white-space:nowrap;width:1.83%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:0.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.15%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.42%;background:#cceeff;margin:0pt;padding:0pt;">6.1</td><td style="vertical-align:bottom;white-space:nowrap;width:1.83%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;width:65.28%;margin:0pt;padding:0pt;">Expected volatility</td><td style="vertical-align:bottom;white-space:nowrap;width:1.83%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:1.15%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.42%;margin:0pt;padding:0pt;">98.5% to 99.1</td><td style="vertical-align:bottom;white-space:nowrap;width:1.83%;margin:0pt;padding:0pt;">%</td><td style="vertical-align:bottom;white-space:nowrap;width:0.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.15%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.42%;margin:0pt;padding:0pt;">95.0% to 96.5</td><td style="vertical-align:bottom;white-space:nowrap;width:1.83%;margin:0pt;padding:0pt;">%</td></tr><tr style=""><td style="vertical-align:bottom;width:65.28%;background:#cceeff;margin:0pt;padding:0pt;">Expected dividend yield</td><td style="vertical-align:bottom;white-space:nowrap;width:1.83%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:1.15%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.42%;background:#cceeff;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:1.83%;background:#cceeff;margin:0pt;padding:0pt;">%</td><td style="vertical-align:bottom;white-space:nowrap;width:0.06%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.15%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.42%;background:#cceeff;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:1.83%;background:#cceeff;margin:0pt;padding:0pt;">%</td></tr><tr style=""><td style="vertical-align:bottom;width:65.28%;margin:0pt;padding:0pt;">Risk-free interest rate</td><td style="vertical-align:bottom;white-space:nowrap;width:1.83%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:1.15%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.42%;margin:0pt;padding:0pt;">3.72% to 4.11</td><td style="vertical-align:bottom;white-space:nowrap;width:1.83%;margin:0pt;padding:0pt;">%</td><td style="vertical-align:bottom;white-space:nowrap;width:0.06%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.15%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:13.42%;margin:0pt;padding:0pt;">4.09% to 4.47</td><td style="vertical-align:bottom;white-space:nowrap;width:1.83%;margin:0pt;padding:0pt;">%</td></tr></table>

6.5

10.44

P6Y1M6D

P5Y6M

P6Y1M6D

0.985

0.991

0.95

0.965

0.0372

0.0411

0.0409

0.0447

The following table provides the weighted average fair value of ESPP purchase rights and the related assumptions used in the Black-Scholes option pricing model for the three months ended March 31, 2026 and 2025:<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;width:66.26%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.09%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.32%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:10.95%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.83%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.09%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.32%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:12.01%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.09%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr style=""><td style="vertical-align:bottom;width:66.26%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.09%;margin:0pt;padding:0pt;"> </td><td colspan="6" style="vertical-align:bottom;white-space:nowrap;width:29.54%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">March 31, </td><td style="vertical-align:bottom;white-space:nowrap;width:2.09%;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;width:66.26%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.09%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.32%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.95%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2026</td><td style="vertical-align:bottom;white-space:nowrap;width:1.83%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:2.09%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.32%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:12.01%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2025</td><td style="vertical-align:bottom;white-space:nowrap;width:2.09%;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;width:66.26%;background:#cceeff;margin:0pt;padding:0pt;">Weighted average fair value per ESPP purchase right</td><td style="vertical-align:bottom;white-space:nowrap;width:2.09%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:1.32%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:10.95%;background:#cceeff;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:1.83%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.09%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.32%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:12.01%;background:#cceeff;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:2.09%;background:#cceeff;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;width:66.26%;margin:0pt;padding:0pt;">Expected term (in years) </td><td style="vertical-align:bottom;white-space:nowrap;width:2.09%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:1.32%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.95%;margin:0pt;padding:0pt;">0.5</td><td style="vertical-align:bottom;white-space:nowrap;width:1.83%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.09%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.32%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:12.01%;margin:0pt;padding:0pt;">0.5</td><td style="vertical-align:bottom;white-space:nowrap;width:2.09%;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;width:66.26%;background:#cceeff;margin:0pt;padding:0pt;">Expected volatility</td><td style="vertical-align:bottom;white-space:nowrap;width:2.09%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:1.32%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.95%;background:#cceeff;margin:0pt;padding:0pt;">61.1</td><td style="vertical-align:bottom;white-space:nowrap;width:1.83%;background:#cceeff;margin:0pt;padding:0pt;">%</td><td style="vertical-align:bottom;white-space:nowrap;width:2.09%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.32%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:12.01%;background:#cceeff;margin:0pt;padding:0pt;"> 112.3</td><td style="vertical-align:bottom;white-space:nowrap;width:2.09%;background:#cceeff;margin:0pt;padding:0pt;">%</td></tr><tr style=""><td style="vertical-align:bottom;width:66.26%;margin:0pt;padding:0pt;">Expected dividend yield</td><td style="vertical-align:bottom;white-space:nowrap;width:2.09%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:1.32%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.95%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:1.83%;margin:0pt;padding:0pt;">%</td><td style="vertical-align:bottom;white-space:nowrap;width:2.09%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.32%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:12.01%;margin:0pt;padding:0pt;"> —</td><td style="vertical-align:bottom;white-space:nowrap;width:2.09%;margin:0pt;padding:0pt;">%</td></tr><tr style=""><td style="vertical-align:bottom;width:66.26%;background:#cceeff;margin:0pt;padding:0pt;">Risk-free interest rate</td><td style="vertical-align:bottom;white-space:nowrap;width:2.09%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:1.32%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.95%;background:#cceeff;margin:0pt;padding:0pt;">3.58</td><td style="vertical-align:bottom;white-space:nowrap;width:1.83%;background:#cceeff;margin:0pt;padding:0pt;">%</td><td style="vertical-align:bottom;white-space:nowrap;width:2.09%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.32%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:12.01%;background:#cceeff;margin:0pt;padding:0pt;"> 4.25</td><td style="vertical-align:bottom;white-space:nowrap;width:2.09%;background:#cceeff;margin:0pt;padding:0pt;">%</td></tr></table>

P0Y6M

0.611

1.123

0.0358

0.0425

The following table presents the components and classification of stock-based compensation expense for the periods indicated:<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;width:73.78%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.42%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:9.24%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.33%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:9.24%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr style=""><td style="vertical-align:bottom;width:73.78%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.42%;margin:0pt;padding:0pt;"></td><td colspan="5" style="vertical-align:bottom;white-space:nowrap;width:23.78%;margin:0pt;padding:0pt;">Three months ended </td></tr><tr style=""><td style="vertical-align:bottom;width:73.78%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.42%;margin:0pt;padding:0pt;"> </td><td colspan="5" style="vertical-align:bottom;white-space:nowrap;width:23.78%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">March 31, </td></tr><tr style=""><td style="vertical-align:bottom;width:73.78%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">(in thousands)</td><td style="vertical-align:bottom;white-space:nowrap;width:2.42%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:10.72%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2026</td><td style="vertical-align:bottom;white-space:nowrap;width:2.33%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:10.72%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2025</td></tr><tr style=""><td style="vertical-align:bottom;width:73.78%;background:#cceeff;margin:0pt;padding:0pt;">Options</td><td style="vertical-align:bottom;white-space:nowrap;width:2.42%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.24%;background:#cceeff;margin:0pt;padding:0pt;"> 2,231</td><td style="vertical-align:bottom;white-space:nowrap;width:2.33%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.24%;background:#cceeff;margin:0pt;padding:0pt;"> 2,214</td></tr><tr style=""><td style="vertical-align:bottom;width:73.78%;margin:0pt;padding:0pt;">RSUs</td><td style="vertical-align:bottom;white-space:nowrap;width:2.42%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.24%;margin:0pt;padding:0pt;"> 395</td><td style="vertical-align:bottom;white-space:nowrap;width:2.33%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.24%;margin:0pt;padding:0pt;"> 92</td></tr><tr style=""><td style="vertical-align:bottom;width:73.78%;background:#cceeff;margin:0pt;padding:0pt;">PSUs</td><td style="vertical-align:bottom;white-space:nowrap;width:2.42%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.24%;background:#cceeff;margin:0pt;padding:0pt;"> 192</td><td style="vertical-align:bottom;white-space:nowrap;width:2.33%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.24%;background:#cceeff;margin:0pt;padding:0pt;"> —</td></tr><tr style=""><td style="vertical-align:bottom;width:73.78%;margin:0pt;padding:0pt;">Employee Stock Purchase Plan</td><td style="vertical-align:bottom;white-space:nowrap;width:2.42%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.24%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 98</td><td style="vertical-align:bottom;white-space:nowrap;width:2.33%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.24%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 149</td></tr><tr style=""><td style="vertical-align:bottom;width:73.78%;background:#cceeff;margin:0pt;padding:0pt;">Total stock-based compensation expense</td><td style="vertical-align:bottom;white-space:nowrap;width:2.42%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.24%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 2,916</td><td style="vertical-align:bottom;white-space:nowrap;width:2.33%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.24%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 2,455</td></tr><tr style=""><td style="vertical-align:bottom;width:73.78%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.42%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.24%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.33%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.24%;margin:0pt;padding:0pt;"></td></tr><tr style=""><td style="vertical-align:bottom;width:73.78%;background:#cceeff;margin:0pt;padding:0pt;">Selling, general & administrative</td><td style="vertical-align:bottom;white-space:nowrap;width:2.42%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.24%;background:#cceeff;margin:0pt;padding:0pt;"> 2,576</td><td style="vertical-align:bottom;white-space:nowrap;width:2.33%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.24%;background:#cceeff;margin:0pt;padding:0pt;"> 2,255</td></tr><tr style=""><td style="vertical-align:bottom;width:73.78%;margin:0pt;padding:0pt;">Research & development</td><td style="vertical-align:bottom;white-space:nowrap;width:2.42%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.24%;margin:0pt;padding:0pt;"> 308</td><td style="vertical-align:bottom;white-space:nowrap;width:2.33%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.24%;margin:0pt;padding:0pt;"> 165</td></tr><tr style=""><td style="vertical-align:bottom;width:73.78%;background:#cceeff;margin:0pt;padding:0pt;">Cost of goods sold</td><td style="vertical-align:bottom;white-space:nowrap;width:2.42%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.24%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 32</td><td style="vertical-align:bottom;white-space:nowrap;width:2.33%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:9.24%;background:#cceeff;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 35</td></tr><tr style=""><td style="vertical-align:bottom;width:73.78%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.42%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.24%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 2,916</td><td style="vertical-align:bottom;white-space:nowrap;width:2.33%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.48%;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.24%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 2,455</td></tr></table>

2231000

2214000

395000

92000

192000

98000

149000

2916000

2455000

2576000

2255000

308000

165000

32000

35000

2916000

2455000

1000

-5000

483700000

9700000

10300000

1900000

9. Loss Per ShareBasic and diluted net loss per share attributable to common stockholders was calculated for the periods indicated (in thousands, except share and per share data):<table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:-0.108181%;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;width:71.92%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.82%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.15%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:11.58%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:0.77%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.15%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:11.58%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr style=""><td style="vertical-align:bottom;width:71.92%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.82%;margin:0pt;padding:0pt;"> </td><td colspan="5" style="vertical-align:bottom;white-space:nowrap;width:26.24%;margin:0pt;padding:0pt;">Three months ended </td></tr><tr style=""><td style="vertical-align:bottom;width:71.92%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.82%;margin:0pt;padding:0pt;"></td><td colspan="5" style="vertical-align:bottom;white-space:nowrap;width:26.24%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">March 31, </td></tr><tr style=""><td style="vertical-align:bottom;width:71.92%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.82%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:12.73%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2026</td><td style="vertical-align:bottom;white-space:nowrap;width:0.77%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:12.73%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2025</td></tr><tr style=""><td style="vertical-align:bottom;width:71.92%;background:#cceeff;margin:0pt;padding:0pt;">Numerator:</td><td style="vertical-align:bottom;white-space:nowrap;width:1.82%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.15%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.58%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:0.77%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:1.15%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.58%;background:#cceeff;margin:0pt;padding:0pt;"> </td></tr><tr style=""><td style="vertical-align:bottom;width:71.92%;margin:0pt;padding:0pt;">Net loss</td><td style="vertical-align:bottom;white-space:nowrap;width:1.82%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.15%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:11.58%;margin:0pt;padding:0pt;"> (13,120)</td><td style="vertical-align:bottom;white-space:nowrap;width:0.77%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.15%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:11.58%;margin:0pt;padding:0pt;"> (13,766)</td></tr><tr style=""><td style="vertical-align:bottom;width:71.92%;background:#cceeff;margin:0pt;padding:0pt;">Denominator:</td><td style="vertical-align:bottom;white-space:nowrap;width:1.82%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.15%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:11.58%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:0.77%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.15%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:11.58%;background:#cceeff;margin:0pt;padding:0pt;"> </td></tr><tr style=""><td style="vertical-align:bottom;width:71.92%;margin:0pt;padding:0pt;">Weighted average common shares outstanding — basic and diluted</td><td style="vertical-align:bottom;white-space:nowrap;width:1.82%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.15%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:11.58%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 26,355,591</td><td style="vertical-align:bottom;white-space:nowrap;width:0.77%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.15%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:11.58%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 25,876,062</td></tr><tr style=""><td style="vertical-align:bottom;width:71.92%;background:#cceeff;margin:0pt;padding:0pt;">Net loss per share attributable to common stockholders — basic and diluted</td><td style="vertical-align:bottom;white-space:nowrap;width:1.82%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.15%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:11.58%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> (0.50)</td><td style="vertical-align:bottom;white-space:nowrap;width:0.77%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.15%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:11.58%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> (0.53)</td></tr></table>Our potentially dilutive securities, which include stock options, RSUs, PSUs, and warrants to purchase shares of common stock, have been excluded from the computation of diluted net loss per share attributable to common stockholders, as the effect would be to reduce the net loss per share attributable to common stockholders. Therefore, the weighted average number of common shares outstanding used to calculate both basic and diluted net loss per share attributable to common stockholders is the same. We excluded the following potential common shares, presented based on amounts outstanding at each period end, from the computation of diluted net loss per share attributable to common stockholders for the periods indicated because including them would have had an anti-dilutive effect:<table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;width:74.61%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.22%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:10.46%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.22%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:10.46%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr style=""><td style="vertical-align:bottom;width:74.61%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.22%;margin:0pt;padding:0pt;"> </td><td colspan="3" style="vertical-align:bottom;white-space:nowrap;width:23.16%;margin:0pt;padding:0pt;">Three months ended </td></tr><tr style=""><td style="vertical-align:bottom;width:74.61%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.22%;margin:0pt;padding:0pt;"></td><td colspan="3" style="vertical-align:bottom;white-space:nowrap;width:23.16%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">March 31, </td></tr><tr style=""><td style="vertical-align:bottom;width:74.61%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.22%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.46%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2026</td><td style="vertical-align:bottom;white-space:nowrap;width:2.22%;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:10.46%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2025</td></tr><tr style=""><td style="vertical-align:bottom;width:74.61%;background:#cceeff;margin:0pt;padding:0pt;">Options</td><td style="vertical-align:bottom;white-space:nowrap;width:2.22%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:10.46%;background:#cceeff;margin:0pt;padding:0pt;"> 6,799,499</td><td style="vertical-align:bottom;white-space:nowrap;width:2.22%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:10.46%;background:#cceeff;margin:0pt;padding:0pt;"> 5,987,007</td></tr><tr style=""><td style="vertical-align:bottom;width:74.61%;margin:0pt;padding:0pt;">RSUs</td><td style="vertical-align:bottom;white-space:nowrap;width:2.22%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.46%;margin:0pt;padding:0pt;"> 922,298</td><td style="vertical-align:bottom;white-space:nowrap;width:2.22%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.46%;margin:0pt;padding:0pt;"> 334,128</td></tr><tr style=""><td style="vertical-align:bottom;width:74.61%;background:#cceeff;margin:0pt;padding:0pt;">PSUs</td><td style="vertical-align:bottom;white-space:nowrap;width:2.22%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.46%;background:#cceeff;margin:0pt;padding:0pt;"> 602,000</td><td style="vertical-align:bottom;white-space:nowrap;width:2.22%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.46%;background:#cceeff;margin:0pt;padding:0pt;"> —</td></tr><tr style=""><td style="vertical-align:bottom;width:74.61%;margin:0pt;padding:0pt;">Warrants</td><td style="vertical-align:bottom;white-space:nowrap;width:2.22%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.46%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 102,718</td><td style="vertical-align:bottom;white-space:nowrap;width:2.22%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:10.46%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 103,349</td></tr><tr style=""><td style="vertical-align:bottom;width:74.61%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.22%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:10.46%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 8,426,515</td><td style="vertical-align:bottom;white-space:nowrap;width:2.22%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:10.46%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 6,424,484</td></tr></table>

Basic and diluted net loss per share attributable to common stockholders was calculated for the periods indicated (in thousands, except share and per share data):<table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:-0.108181%;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;width:71.92%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.82%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.15%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:11.58%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:0.77%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.15%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:11.58%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr style=""><td style="vertical-align:bottom;width:71.92%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.82%;margin:0pt;padding:0pt;"> </td><td colspan="5" style="vertical-align:bottom;white-space:nowrap;width:26.24%;margin:0pt;padding:0pt;">Three months ended </td></tr><tr style=""><td style="vertical-align:bottom;width:71.92%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.82%;margin:0pt;padding:0pt;"></td><td colspan="5" style="vertical-align:bottom;white-space:nowrap;width:26.24%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">March 31, </td></tr><tr style=""><td style="vertical-align:bottom;width:71.92%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.82%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:12.73%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2026</td><td style="vertical-align:bottom;white-space:nowrap;width:0.77%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:12.73%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2025</td></tr><tr style=""><td style="vertical-align:bottom;width:71.92%;background:#cceeff;margin:0pt;padding:0pt;">Numerator:</td><td style="vertical-align:bottom;white-space:nowrap;width:1.82%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.15%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.58%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:0.77%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:1.15%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:11.58%;background:#cceeff;margin:0pt;padding:0pt;"> </td></tr><tr style=""><td style="vertical-align:bottom;width:71.92%;margin:0pt;padding:0pt;">Net loss</td><td style="vertical-align:bottom;white-space:nowrap;width:1.82%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.15%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:11.58%;margin:0pt;padding:0pt;"> (13,120)</td><td style="vertical-align:bottom;white-space:nowrap;width:0.77%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.15%;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:11.58%;margin:0pt;padding:0pt;"> (13,766)</td></tr><tr style=""><td style="vertical-align:bottom;width:71.92%;background:#cceeff;margin:0pt;padding:0pt;">Denominator:</td><td style="vertical-align:bottom;white-space:nowrap;width:1.82%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.15%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:11.58%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:0.77%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.15%;background:#cceeff;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:11.58%;background:#cceeff;margin:0pt;padding:0pt;"> </td></tr><tr style=""><td style="vertical-align:bottom;width:71.92%;margin:0pt;padding:0pt;">Weighted average common shares outstanding — basic and diluted</td><td style="vertical-align:bottom;white-space:nowrap;width:1.82%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.15%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:11.58%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 26,355,591</td><td style="vertical-align:bottom;white-space:nowrap;width:0.77%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.15%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:11.58%;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 25,876,062</td></tr><tr style=""><td style="vertical-align:bottom;width:71.92%;background:#cceeff;margin:0pt;padding:0pt;">Net loss per share attributable to common stockholders — basic and diluted</td><td style="vertical-align:bottom;white-space:nowrap;width:1.82%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.15%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:11.58%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> (0.50)</td><td style="vertical-align:bottom;white-space:nowrap;width:0.77%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.15%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:11.58%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> (0.53)</td></tr></table>

-13120000

-13766000

26355591

25876062

-0.5

-0.53

6799499

5987007

922298

334128

602000

102718

103349

8426515

6424484

400000

300000

We derive all our revenues from sales to customers in Europe and the U.S. The following table provides revenue by country for each location accounting for more than 10% of the total revenue for the periods indicated (in thousands):<table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;width:71.89%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.89%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.84%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:9.3%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.89%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.84%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:9.32%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr style=""><td style="vertical-align:bottom;width:71.89%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.89%;margin:0pt;padding:0pt;"> </td><td colspan="5" style="vertical-align:bottom;white-space:nowrap;width:25.21%;margin:0pt;padding:0pt;">Three months ended </td></tr><tr style=""><td style="vertical-align:bottom;width:71.89%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.89%;margin:0pt;padding:0pt;"> </td><td colspan="5" style="vertical-align:bottom;white-space:nowrap;width:25.21%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">March 31, </td></tr><tr style=""><td style="vertical-align:bottom;width:71.89%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.89%;margin:0pt;padding:0pt;"></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:11.14%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2026</td><td style="vertical-align:bottom;white-space:nowrap;width:2.89%;margin:0pt;padding:0pt;"> </td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:11.16%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;">2025</td></tr><tr style=""><td style="vertical-align:bottom;width:71.89%;background:#cceeff;margin:0pt;padding:0pt;">U.S.</td><td style="vertical-align:bottom;white-space:nowrap;width:2.89%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.84%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.3%;background:#cceeff;margin:0pt;padding:0pt;"> 13,650</td><td style="vertical-align:bottom;white-space:nowrap;width:2.89%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.84%;background:#cceeff;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.32%;background:#cceeff;margin:0pt;padding:0pt;"> 11,202</td></tr><tr style=""><td style="vertical-align:bottom;width:71.89%;margin:0pt;padding:0pt;">Other countries</td><td style="vertical-align:bottom;white-space:nowrap;width:2.89%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.84%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:9.3%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 1,119</td><td style="vertical-align:bottom;white-space:nowrap;width:2.89%;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.84%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> </td><td style="vertical-align:bottom;white-space:nowrap;width:9.32%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"> 1,146</td></tr><tr style=""><td style="vertical-align:bottom;width:71.89%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:2.89%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.84%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.3%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 14,769</td><td style="vertical-align:bottom;white-space:nowrap;width:2.89%;background:#cceeff;margin:0pt;padding:0pt;"></td><td style="vertical-align:bottom;white-space:nowrap;width:1.84%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;">$</td><td style="vertical-align:bottom;white-space:nowrap;width:9.32%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"> 12,348</td></tr></table>

13650000

11202000

1119000

1146000

14769000

12348000

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