v3.26.1
SHARE-BASED COMPENSATION (Tables)
 3 Months Ended
Mar. 31, 2026
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]  
Share-Based Payment Arrangement, Option, Activity

 

 

Number of Options

 

Weighted-Average Exercise Price

 

Weighted-Average Remaining Contractual Term (In Years)

 

Outstanding - January 1, 2025

 

938,453

 

$

5.08

 

9.20

 

Granted

 

727,901

 

$

1.21

 

9.41

 

Exercised

 

—

 

$

—

 

—

 

Modified/Cancelled

 

—

 

$

—

 

—

 

Expired/Forfeited

 

(698,754)

 

$

4.88

 

—

 

Outstanding - December 31, 2025

 

967,600

 

$

3.14

 

8.58

 

Granted

 

125,000

 

$

2.91

 

9.86

 

Exercised

 

(132,136)

 

$

3.32

 

—

 

Modified/Cancelled

 

—

 

$

—

 

—

 

Expired/Forfeited

 

(117,897)

 

$

2.13

 

—

 

Outstanding - March 31, 2026

 

842,567

 

$

3.28

 

9.10

 

Exercisable - March 31, 2026

 

263,403

 

$

4.23

 

8.79

 
Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions

 

 

For the Three Months Ended

 

 

 

March 2026

 

Weighted average grant date fair value

 

$

2.21

 

Expected term (years)

 

 

3.99-5.87

 

Risk-free interest rate

 

 

4.32

%

Expected volatility

 

 

65.00

%

Expected dividends yield

 

 

—

%

Exercise price

 

$

2.25-3.90

 

 

 

 

For the Three Months Ended

 

 

 

March 31, 2025

 

Weighted average grant date fair value

 

$

3.04

 

Expected term (years)

 

 

5.14-5.52

 

Risk-free interest rate

 

 

4.0-4.1

%

Expected volatility

 

 

68.0

%

Expected dividends yield

 

 

—

%

Exercise price

 

$

2.93

 
Share-Based Payment Arrangement, Option [Member]  
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]  
Share-Based Payment Arrangement, Expensed and Capitalized, Amount

 

 

Three Months Ended March 31,

 

(in thousands)

 

2026

 

2025

 

General and administrative

 

$

103

 

$

227

 

Total

 

$

103

 

$

227

 
Restricted Stock Units (RSUs) [Member]  
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]  
Share-Based Payment Arrangement, Expensed and Capitalized, Amount

 

 

Three Months Ended March 31,

 

(in thousands)

 

2026

 

2025

 

General and administrative

 

$

158

 

$

81

 

Total

 

$

158

 

$

81

 
Share-Based Payment Arrangement, Restricted Stock Unit, Activity

 

 

Number of Units

 

Weighted Average Grant Date FV

 

RSUs outstanding at January 1, 2025

 

255,716

 

$

4.13

 

Granted

 

247,091

 

$

2.60

 

Vested

 

(134,522)

 

$

3.61

 

Forfeited

 

(217,138)

 

$

5.51

 

RSUs outstanding at December 31, 2025

 

151,147

 

$

         2.66

 

Granted

 

344,600

 

$

3.85

 

Vested

 

(31,958)

 

$

3.61

 

Forfeited

 

(6,875)

 

$

1.56

 

RSUs outstanding at March 31, 2026

 

456,914

 

$

3.51

 
Warrant [Member]  
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]  
Share-Based Payment Arrangement, Restricted Stock Unit, Activity

 

 

 Number of Shares

 

 Weighted-Average Exercise Price

 

 Weighted-Average Remaining Contractual Term (In Years)

 

Warrants outstanding - January 1, 2025

 

101,672

 

$

7.06

 

4.40

 

Issued

 

—

 

$

—

 

—

 

Exercised

 

—

 

$

—

 

—

 

Expired

 

—

 

$

—

 

—

 

Warrants outstanding - December 31, 2025

 

101,672

 

$

7.06

 

2.92

 

Issued

 

94,625

 

$

13.21

 

4.81

 

Exercised

 

(55,000)

 

$

10.00

 

—

 

Expired

 

—

 

$

—

 

—

 

Warrants outstanding - March 31, 2026

 

141,297

 

$

10.03

 

3.75

 

Warrants exercisable - March 31, 2026

 

141,297

 

$

10.03

 

3.75