0000065770 2026-01-01 2026-03-31 0000065770 2026-05-06 0000065770 2026-03-31 0000065770 2025-12-31 0000065770 2025-01-01 2025-03-31 0000065770 us-gaap:CommonStockMember 2024-12-31 0000065770 us-gaap:AdditionalPaidInCapitalMember 2024-12-31 0000065770 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2024-12-31 0000065770 us-gaap:RetainedEarningsMember 2024-12-31 0000065770 2024-12-31 0000065770 us-gaap:CommonStockMember 2025-12-31 0000065770 us-gaap:AdditionalPaidInCapitalMember 2025-12-31 0000065770 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2025-12-31 0000065770 us-gaap:RetainedEarningsMember 2025-12-31 0000065770 us-gaap:CommonStockMember 2025-01-01 2025-03-31 0000065770 us-gaap:AdditionalPaidInCapitalMember 2025-01-01 2025-03-31 0000065770 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2025-01-01 2025-03-31 0000065770 us-gaap:RetainedEarningsMember 2025-01-01 2025-03-31 0000065770 us-gaap:CommonStockMember 2026-01-01 2026-03-31 0000065770 us-gaap:AdditionalPaidInCapitalMember 2026-01-01 2026-03-31 0000065770 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2026-01-01 2026-03-31 0000065770 us-gaap:RetainedEarningsMember 2026-01-01 2026-03-31 0000065770 us-gaap:CommonStockMember 2025-03-31 0000065770 us-gaap:AdditionalPaidInCapitalMember 2025-03-31 0000065770 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2025-03-31 0000065770 us-gaap:RetainedEarningsMember 2025-03-31 0000065770 2025-03-31 0000065770 us-gaap:CommonStockMember 2026-03-31 0000065770 us-gaap:AdditionalPaidInCapitalMember 2026-03-31 0000065770 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2026-03-31 0000065770 us-gaap:RetainedEarningsMember 2026-03-31 0000065770 2024-10-23 2024-10-23 0000065770 MVIS:SeniorSecuredConvertibleNotesDueMarchTwoThousandTwentyEightMember 2026-02-28 0000065770 MVIS:SeniorSecuredConvertibleNotesDueMarchTwoThousandTwentySixMember 2026-02-28 0000065770 MVIS:TopTenGlobalOEMCustomerMember us-gaap:SalesRevenueNetMember us-gaap:CustomerConcentrationRiskMember 2026-01-01 2026-03-31 0000065770 MVIS:GlobalManufacturerOfConstructionAndMiningMember us-gaap:SalesRevenueNetMember us-gaap:CustomerConcentrationRiskMember 2026-01-01 2026-03-31 0000065770 MVIS:EUBasedRoboticsMember us-gaap:SalesRevenueNetMember us-gaap:CustomerConcentrationRiskMember 2026-01-01 2026-03-31 0000065770 MVIS:LeadingManufacturerOfAgriculturalEquipmentMember us-gaap:SalesRevenueNetMember us-gaap:CustomerConcentrationRiskMember 2025-01-01 2025-03-31 0000065770 MVIS:AutomotiveSupplierMember us-gaap:SalesRevenueNetMember us-gaap:CustomerConcentrationRiskMember 2025-01-01 2025-03-31 0000065770 MVIS:CustomersMember us-gaap:AccountsReceivableMember us-gaap:CustomerConcentrationRiskMember 2026-01-01 2026-03-31 0000065770 MVIS:OutstandingOptionsExercisableMember 2026-01-01 2026-03-31 0000065770 MVIS:OutstandingOptionsExercisableMember 2025-01-01 2025-03-31 0000065770 MVIS:NonvestedRestrictedAndPerformanceStockUnitsMember 2026-01-01 2026-03-31 0000065770 MVIS:NonvestedRestrictedAndPerformanceStockUnitsMember 2025-01-01 2025-03-31 0000065770 MVIS:DerivativeLiabilityMember 2026-01-01 2026-03-31 0000065770 MVIS:DerivativeLiabilityMember 2025-01-01 2025-03-31 0000065770 MVIS:ExerciseOfWarrantsMember 2026-01-01 2026-03-31 0000065770 MVIS:ExerciseOfWarrantsMember 2025-01-01 2025-03-31 0000065770 MVIS:ScantinelPhotonicsGmbHMember 2025-10-01 2025-12-31 0000065770 MVIS:ScantinelPhotonicsGmbHMember 2026-01-01 2026-03-31 0000065770 MVIS:LuminarTechnologiesIncMember 2026-02-03 2026-02-03 0000065770 MVIS:LuminarTechnologiesIncMember 2026-02-03 0000065770 MVIS:LuminarTechnologiesIncMember 2026-01-01 2026-03-31 0000065770 2025-01-01 2025-01-01 0000065770 MVIS:ScantinelPhotonicsGmbHMember 2026-01-01 2026-01-01 0000065770 MVIS:ScantinelPhotonicsGmbHMember 2026-01-01 0000065770 MVIS:ScantinelPhotonicsGmbHMember us-gaap:DevelopedTechnologyRightsMember 2026-01-01 2026-01-01 0000065770 MVIS:LuminarTechnologiesIncMember 2026-01-26 2026-01-26 0000065770 MVIS:LuminarTechnologiesIncMember 2026-01-26 0000065770 MVIS:LuminarTechnologiesIncMember us-gaap:DevelopedTechnologyRightsMember 2026-01-26 2026-01-26 0000065770 MVIS:LuminarTechnologiesIncMember us-gaap:CustomerRelationshipsMember 2026-01-26 2026-01-26 0000065770 MVIS:ProductRevenueMember us-gaap:TransferredAtPointInTimeMember 2026-01-01 2026-03-31 0000065770 MVIS:LicenseAndRoyaltyRevenueMember us-gaap:TransferredAtPointInTimeMember 2026-01-01 2026-03-31 0000065770 MVIS:ContractRevenueMember us-gaap:TransferredAtPointInTimeMember 2026-01-01 2026-03-31 0000065770 us-gaap:TransferredAtPointInTimeMember 2026-01-01 2026-03-31 0000065770 MVIS:ProductRevenueMember us-gaap:TransferredOverTimeMember 2026-01-01 2026-03-31 0000065770 MVIS:LicenseAndRoyaltyRevenueMember us-gaap:TransferredOverTimeMember 2026-01-01 2026-03-31 0000065770 MVIS:ContractRevenueMember us-gaap:TransferredOverTimeMember 2026-01-01 2026-03-31 0000065770 us-gaap:TransferredOverTimeMember 2026-01-01 2026-03-31 0000065770 MVIS:ProductRevenueMember 2026-01-01 2026-03-31 0000065770 MVIS:LicenseAndRoyaltyRevenueMember 2026-01-01 2026-03-31 0000065770 MVIS:ContractRevenueMember 2026-01-01 2026-03-31 0000065770 MVIS:ProductRevenueMember us-gaap:TransferredAtPointInTimeMember 2025-01-01 2025-03-31 0000065770 MVIS:LicenseAndRoyaltyRevenueMember us-gaap:TransferredAtPointInTimeMember 2025-01-01 2025-03-31 0000065770 MVIS:ContractRevenueMember us-gaap:TransferredAtPointInTimeMember 2025-01-01 2025-03-31 0000065770 us-gaap:TransferredAtPointInTimeMember 2025-01-01 2025-03-31 0000065770 MVIS:ProductRevenueMember 2025-01-01 2025-03-31 0000065770 MVIS:LicenseAndRoyaltyRevenueMember 2025-01-01 2025-03-31 0000065770 MVIS:ContractRevenueMember 2025-01-01 2025-03-31 0000065770 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:CorporateDebtSecuritiesMember 2025-12-31 0000065770 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:CorporateDebtSecuritiesMember 2025-12-31 0000065770 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:CorporateDebtSecuritiesMember 2025-12-31 0000065770 us-gaap:FairValueMeasurementsRecurringMember us-gaap:CorporateDebtSecuritiesMember 2025-12-31 0000065770 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:USTreasurySecuritiesMember 2025-12-31 0000065770 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:USTreasurySecuritiesMember 2025-12-31 0000065770 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:USTreasurySecuritiesMember 2025-12-31 0000065770 us-gaap:FairValueMeasurementsRecurringMember us-gaap:USTreasurySecuritiesMember 2025-12-31 0000065770 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember 2025-12-31 0000065770 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2025-12-31 0000065770 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember 2025-12-31 0000065770 us-gaap:FairValueMeasurementsRecurringMember 2025-12-31 0000065770 us-gaap:CorporateDebtSecuritiesMember 2025-12-31 0000065770 us-gaap:USTreasurySecuritiesMember 2025-12-31 0000065770 us-gaap:CorporateDebtSecuritiesMember 2025-12-31 0000065770 MVIS:SecuritiesPurchaseAgreementMember 2024-10-14 0000065770 MVIS:PurchaseAgreementMember 2024-10-23 2024-10-23 0000065770 MVIS:LetterAgreementMember 2025-02-03 2025-02-03 0000065770 MVIS:LetterAgreementMember 2025-01-01 2025-03-31 0000065770 MVIS:SeniorSecuredConvertibleNotesDueMarchTwoThousandTwentyEightMember 2026-02-23 0000065770 MVIS:SeniorSecuredConvertibleNotesDueMarchTwoThousandTwentySixMember 2026-02-23 0000065770 MVIS:TwoThousandTwentySixConvertibleNotesMember 2026-02-23 2026-02-23 0000065770 2026-03-16 2026-03-16 0000065770 2026-03-16 0000065770 2026-03-20 2026-03-20 0000065770 2026-03-20 0000065770 us-gaap:SubsequentEventMember 2026-04-20 2026-04-20 0000065770 us-gaap:SubsequentEventMember 2026-04-20 0000065770 us-gaap:SubsequentEventMember 2026-05-05 2026-05-05 0000065770 us-gaap:SubsequentEventMember 2026-05-05 0000065770 2026-02-23 0000065770 us-gaap:FairValueInputsLevel1Member 2026-03-31 0000065770 us-gaap:FairValueInputsLevel2Member 2026-03-31 0000065770 us-gaap:FairValueInputsLevel3Member 2026-03-31 0000065770 us-gaap:FairValueInputsLevel1Member 2025-12-31 0000065770 us-gaap:FairValueInputsLevel2Member 2025-12-31 0000065770 us-gaap:FairValueInputsLevel3Member 2025-12-31 0000065770 us-gaap:MeasurementInputExpectedTermMember 2026-01-01 2026-03-31 0000065770 us-gaap:MeasurementInputExpectedTermMember 2026-02-23 2026-02-23 0000065770 us-gaap:MeasurementInputExpectedTermMember 2025-01-01 2025-12-31 0000065770 us-gaap:MeasurementInputRiskFreeInterestRateMember 2026-03-31 0000065770 us-gaap:MeasurementInputRiskFreeInterestRateMember 2026-02-23 0000065770 us-gaap:MeasurementInputRiskFreeInterestRateMember 2025-12-31 0000065770 us-gaap:MeasurementInputExpectedDividendRateMember 2026-03-31 0000065770 us-gaap:MeasurementInputExpectedDividendRateMember 2026-02-23 0000065770 us-gaap:MeasurementInputExpectedDividendRateMember 2025-12-31 0000065770 us-gaap:MeasurementInputOptionVolatilityMember 2026-03-31 0000065770 us-gaap:MeasurementInputOptionVolatilityMember 2026-02-23 0000065770 us-gaap:MeasurementInputOptionVolatilityMember 2025-12-31 0000065770 us-gaap:MeasurementInputDiscountRateMember 2026-03-31 0000065770 us-gaap:MeasurementInputDiscountRateMember 2026-02-23 0000065770 us-gaap:MeasurementInputDiscountRateMember 2025-12-31 0000065770 MVIS:SecuritiesPurchaseAgreementMember 2025-02-03 0000065770 MVIS:SecuritiesPurchaseAgreementMember 2025-02-03 2025-02-03 0000065770 MVIS:SecuritiesPurchaseAgreementMember 2025-02-04 2025-02-04 0000065770 MVIS:SecuritiesPurchaseAgreementMember 2025-02-04 0000065770 2025-02-03 0000065770 us-gaap:MeasurementInputExpectedTermMember 2026-03-31 0000065770 us-gaap:MeasurementInputExpectedTermMember 2025-12-31 0000065770 us-gaap:MachineryAndEquipmentMember 2026-03-31 0000065770 us-gaap:MachineryAndEquipmentMember 2025-12-31 0000065770 us-gaap:LeaseholdImprovementsMember 2026-03-31 0000065770 us-gaap:LeaseholdImprovementsMember 2025-12-31 0000065770 MVIS:ComputerHardwareAndSoftwareLlabEquipmentMember 2026-03-31 0000065770 MVIS:ComputerHardwareAndSoftwareLlabEquipmentMember 2025-12-31 0000065770 MVIS:OfficeFurnitureAndEquipmentMember 2026-03-31 0000065770 MVIS:OfficeFurnitureAndEquipmentMember 2025-12-31 0000065770 MVIS:AcquiredTechnologyMember 2026-03-31 0000065770 MVIS:AcquiredTechnologyMember 2026-01-01 2026-03-31 0000065770 MVIS:AcquiredTechnologyMember 2025-12-31 0000065770 MVIS:AcquiredTechnologyMember 2025-01-01 2025-12-31 0000065770 2025-01-01 2025-12-31 0000065770

us-gaap:ResearchAndDevelopmentExpense

2026-01-01 2026-03-31 0000065770

us-gaap:ResearchAndDevelopmentExpense

2025-01-01 2025-03-31 0000065770

us-gaap:SellingGeneralAndAdministrativeExpense

2026-01-01 2026-03-31 0000065770

us-gaap:SellingGeneralAndAdministrativeExpense

2025-01-01 2025-03-31 0000065770

us-gaap:ShareBasedCompensationExpense

2026-01-01 2026-03-31 0000065770

us-gaap:ShareBasedCompensationExpense

2025-01-01 2025-03-31 0000065770 us-gaap:EmployeeStockOptionMember 2026-03-31 0000065770 us-gaap:EmployeeStockOptionMember 2026-01-01 2026-03-31 0000065770 us-gaap:PerformanceSharesMember MVIS:ShareBasedPaymentArrangementNonExecutiveEmployeesMember 2026-01-01 2026-03-31 0000065770 us-gaap:RestrictedStockUnitsRSUMember 2026-03-31 0000065770 us-gaap:RestrictedStockUnitsRSUMember 2026-01-01 2026-03-31 0000065770 us-gaap:PerformanceSharesMember MVIS:ShareBasedPaymentArrangementExecutiveMember 2026-03-31 0000065770 us-gaap:PerformanceSharesMember MVIS:ShareBasedPaymentArrangementExecutiveMember 2026-01-01 2026-03-31 0000065770 MVIS:ProductTestingAndLabSpaceLeaseMember 2021-09-01 2021-09-30 0000065770 MVIS:OfficeSpaceMember 2025-07-15 2025-07-15 0000065770 MVIS:OfficeSpaceMember 2025-04-21 2025-04-21 0000065770 MVIS:FirstLeaseMember 2023-12-01 2023-12-31 0000065770 MVIS:SecondLeaseMember 2025-09-01 2025-09-30 0000065770 MVIS:ThirdLeaseMember 2025-11-01 2025-11-30 0000065770 MVIS:FourthLeaseMember 2026-02-01 2026-02-28 0000065770 MVIS:FifthLeaseMember 2026-02-01 2026-02-28 0000065770 MVIS:ContractManufacturingPartnerMember 2023-09-30 0000065770 MVIS:ContractManufacturingPartnerMember 2024-12-31 0000065770 MVIS:AgentsMember MVIS:AtmEquityOfferingAgreementMember 2024-03-01 2024-03-31 0000065770 MVIS:AgentsMember us-gaap:CommonStockMember MVIS:AtmEquityOfferingAgreementMember 2024-03-01 2024-03-31 0000065770 MVIS:AgentsMember MVIS:AtmEquityOfferingAgreementMember 2026-01-01 2026-03-31 0000065770 MVIS:AgentsMember us-gaap:CommonStockMember MVIS:AtmEquityOfferingAgreementMember 2026-01-01 2026-03-31 0000065770 us-gaap:ForeignCountryMember 2026-01-01 2026-03-31 0000065770 us-gaap:ForeignCountryMember 2025-01-01 2025-03-31 iso4217:USD shares iso4217:USD shares pure MVIS:Segment false --12-31 Q1 0000065770 Yes Yes

10-Q true 2026-03-31 2026 false 001-34170 MicroVision, Inc. DE 91-1600822 18390 NE 68th Street Redmond WA 98052 (425) 936-6847 Common Stock, $0.001 par value per share MVIS NASDAQ Non-accelerated Filer true false false 331615285

46120000

32363000

42471000

485000

497000

732000

47000

4028000

745000

2858000

4989000

54223000

81112000

17300000

4280000

17929000

14075000

1189000

1204000

13662000

32000

3677000

2224000

2416000

110204000

103119000

4537000

1628000

7542000

5426000

411000

2035000

32141000

19212000

4985000

3481000

13000

14000

99000

388000

51763000

30149000

1271000 1875000

16259000

14034000

21000

27000

1347000

1486000

70661000

47571000

0.001

25000000

0.001

510000000

322110000

306509000

322000

306000

1021218000

1011835000

559000

669000

-982556000

-957262000

39543000

55548000

110204000

103119000

935000

589000

572000

550000

363000

39000

14445000

7403000

9511000

6676000

9000

108000

23857000

14079000

-23494000

-14040000

2753000

12903000

3380000

842000

604000 1761000

-3083000

-4654000

147000

87000

288000

-25112000

-28706000

182000

73000

-25294000

-28779000

-0.08

-0.12

308650000

235933000

-25294000

-28779000

-24000

-19000

-86000

138000

-25404000

-28660000

224993000

225000

910825000

-862281000

48769000

464000

1921000

5913000

6000

9188000

9194000

14070000

14000

21966000

21980000

-28779000

119000

245440000

245000

943900000

119000

-891060000

53204000

306509000

306000

1011835000

669000

-957262000

55548000

692000

1000

982000

983000

582000

1000

310000

311000

14327000

14000

8091000

8105000

-25294000

-110000

322110000

322000

1021218000

559000

-982556000

39543000

-25294000

-28779000

2368000

1408000

3380000

842000

604000 1761000

-3083000

-4654000

147000

108000

9000

27000

7325000

2743000

5559000

983000

1921000

-81000 -118000

685000

-674000

-490000

228000

-308000

2713000

2800000

95000

2116000

-348000

122000

-342000

-1086000

-556000

-107000

-47000

-16443000

-14098000

42528000

13522000

10333000

143000

99000

33178000

9207000

3090000

3000

2000

20732000

311000

8207000

21040000

8205000

-74000

81000

13730000

-2722000

34064000

56247000

47794000

53525000

8105000 21980000 6297000 4733000 -107000 41000 -86000 138000 -24000 -19000

46120000

51918000

485000

70000

1189000

1537000

47794000

53525000

1. DESCRIPTION OF BUSINESS MicroVision, Inc. is defining the next generation of lidar-based perception solutions for automotive, industrial, and security & defense markets. The Company delivers integrated hardware and software solutions designed for real-world performance, automotive-grade reliability, and economic scalability. The Company’s diverse portfolio of lidar sensors, with both short- and long-range lidar solutions, feature solid-state sensors with varying wavelengths, advanced sensor architectures, design-to-cost engineering, and open software solutions. The Company’s solutions enable advanced driver assistance systems, or ADAS, and autonomy features for customers in a wide range of markets, including automotive, industrial, and security & defense. Target industrial sectors include robotics, automated warehouse, agriculture, and mining. The Company’s integrated hardware and software solutions enable intelligent autonomous, active safety, and automation systems which depend on secure, cost-effective, and energy-efficient solutions. Software has been developed in close collaboration with automotive customers and also has broad application in industrial, defense, and commercial vehicle sectors. With engineering teams in the U.S. and Germany, the Company develops and supplies integrated solutions, incorporating application software and processing data from differentiated sensor systems. The Company’s extensive experience in developing and productizing core lidar hardware and software components, along with expertise in edge computing, positions the Company as a valuable commercial partner capable of delivering high-value, low-power products. Liquidity The Company has incurred significant losses since inception. Operations to date have been funded primarily through the sale of common stock, convertible preferred stock, warrants, the issuance of convertible debt and, to a lesser extent, from development contract revenues, product sales, and licensing activities. As of March 31, 2026, the Company had total liquidity of $46.1 million comprised of cash and cash equivalents, which excludes restricted cash, and approximately $42.0 million availability under its current at-the-market (“ATM”) facility as of March 31, 2026, subject to certain conditions, including ongoing listing on The Nasdaq Global Market. On October 23, 2024, the Company issued $45.0 million in senior secured convertible notes for gross proceeds of $41.4 million. Additionally, in February 2026, the Company entered into a securities purchase and exchange agreement with an institutional investor, pursuant to which the Company issued two senior secured convertible notes due March 2028 – one for approximately $<span id="xdx_900_eus-gaap--SeniorLongTermNotes_iI_pn5n6_c20260228__us-gaap--DebtInstrumentAxis__custom--SeniorSecuredConvertibleNotesDueMarchTwoThousandTwentyEightMember_zuE3nWoikc7d" title="Senior secured convertible notes">20.6 million in exchange for the previously existing senior secured convertible note due March 2026 and the other for approximately $<span id="xdx_90E_eus-gaap--SeniorLongTermNotes_iI_pn5n6_c20260228__us-gaap--DebtInstrumentAxis__custom--SeniorSecuredConvertibleNotesDueMarchTwoThousandTwentySixMember_zI8xDiOShCVj" title="Senior secured convertible notes">22.4 million. See Note 7. Notes Payable and Derivative Liability for additional discussion. Pursuant to terms of the securities purchase and exchange agreement, the Company will maintain minimum cash liquidity of the lesser of $21.5 million or 110% of the then outstanding balance of the senior secured convertible notes for the remaining duration of their term. Based on the current operating plan, including expected financing activities, the Company anticipates having sufficient cash and cash equivalents to fund operations for at least the next 12 months from the issuance of these consolidated financial statements.

46100000

42000000.0

45000000.0

41400000

20600000

22400000

21500000

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Principles of Consolidation and Basis of Presentation The unaudited condensed consolidated financial statements and accompanying notes include the accounts of the Company and its wholly owned subsidiaries, after elimination of all intercompany balances and transactions. The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“US GAAP”) and the requirements of the U.S. Securities and Exchange Commission (the “SEC”) for interim financial information. Certain information and disclosures normally included in consolidated financial statements prepared in accordance with GAAP have been condensed or omitted. Accordingly, these unaudited condensed consolidated financial statements should be read in conjunction with the audited financial statements and notes thereto for the year ended December 31, 2025. The information as of December 31, 2025 included in the condensed consolidated balance sheets was derived from those audited financial statements. The unaudited condensed consolidated financial statements have been prepared on the same basis as the annual consolidated financial statements and, in the opinion of management, reflect all adjustments, which include only normal recurring adjustments, necessary for the fair statement of the Company’s financial information for the interim periods presented. The unaudited condensed consolidated results of operations for the interim period are not necessarily indicative of the results to be expected for the year ending December 31, 2026 or for any other future annual or interim period. Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires the Company to make estimates and assumptions that affect the reported amounts therein. The most significant estimates and assumptions relate to valuations of intangibles, derivatives and warrants, revenue recognition, inventory valuation, valuation of share-based payments, income taxes, depreciable lives assessment and related disclosure of contingent assets and liabilities. Due to the inherent uncertainty involved, actual results reported in future periods could differ from those estimates. Foreign Currency Translation Foreign currency transaction gains and losses are a result of the effect of exchange rate changes on transactions denominated in currencies other than the functional currency. Realized gains and losses on those foreign currency transactions are included in determining net loss for the period of exchange and are recorded in other income in the condensed consolidated statements of operations. Segment Information The Company determines operating segments based on how the chief operating decision maker (“CODM”) manages the business, makes operating decisions around the allocation of resources, and evaluates operating performance. The CODM is the Chief Executive Officer. The Company has determined that it operates in one operating segment and one reportable segment, relating to the sale and servicing of lidar hardware and software, as the CODM regularly reviews financial information presented on a consolidated basis. Financial information regularly reviewed by the CODM includes revenue, income or loss from operations, and net income or loss. Concentration of Credit Risk Financial instruments that potentially subject the Company to a concentration of credit risk are primarily cash, cash equivalents, and investment securities. As of March 31, 2026, cash and cash equivalents are comprised of operating checking accounts and short-term highly rated money market savings accounts. Short-term investments are comprised of highly rated corporate bonds and U.S. Treasury securities. For the three months ended March 31, 2026, $<span id="xdx_90E_eus-gaap--Revenues_pn5n6_c20260101__20260331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__srt--MajorCustomersAxis__custom--TopTenGlobalOEMCustomerMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zeo2pKgD2RP4" title="Revenue">0.5 million, or <span id="xdx_906_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20260101__20260331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__srt--MajorCustomersAxis__custom--TopTenGlobalOEMCustomerMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zZgKWj7trTB9" title="Concentration risk, percentage">54%, of total revenue was derived from a top-ten global automotive OEM customer, $<span id="xdx_90A_eus-gaap--Revenues_pn5n6_c20260101__20260331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__srt--MajorCustomersAxis__custom--GlobalManufacturerOfConstructionAndMiningMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zPwE93yWzvQc" title="Revenue">0.2 million, or <span id="xdx_902_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20260101__20260331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__srt--MajorCustomersAxis__custom--GlobalManufacturerOfConstructionAndMiningMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zCqeX1ENL1Rg" title="Concentration risk, percentage">22%, of total revenue was derived from a leading global manufacturer of construction and mining equipment, and $<span id="xdx_900_eus-gaap--Revenues_pn5n6_c20260101__20260331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__srt--MajorCustomersAxis__custom--EUBasedRoboticsMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zDDnOVrnlHQ" title="Revenue">0.2 million, or <span id="xdx_903_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20260101__20260331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__srt--MajorCustomersAxis__custom--EUBasedRoboticsMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_z9aDV6J4eyJc" title="Concentration risk, percentage">17%, of total revenue was derived from an EU-based robotics company delivering autonomy systems in the Security & Defense sector. For the same period in 2025, a leading manufacturer of agricultural equipment and an automotive supplier accounted for $<span id="xdx_90E_eus-gaap--Revenues_pn5n6_c20250101__20250331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__srt--MajorCustomersAxis__custom--LeadingManufacturerOfAgriculturalEquipmentMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zuMvDjVJT421" title="Revenue">0.5 million and $<span id="xdx_90C_eus-gaap--Revenues_pn5n6_c20250101__20250331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__srt--MajorCustomersAxis__custom--AutomotiveSupplierMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zyVtDJWxCYNj" title="Revenue">0.1 million of total revenue, respectively, representing <span id="xdx_90E_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20250101__20250331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__srt--MajorCustomersAxis__custom--LeadingManufacturerOfAgriculturalEquipmentMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zEaRBXSK1cwa" title="Concentration risk, percentage">80% and <span id="xdx_90A_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20250101__20250331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__srt--MajorCustomersAxis__custom--AutomotiveSupplierMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_ziWo0euXJ269" title="Concentration risk, percentage">14% of total revenue, respectively. As of March 31, 2026, accounts receivable related to the top customers accounted for <span id="xdx_906_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20260101__20260331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__srt--MajorCustomersAxis__custom--CustomersMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zbhmlJro4vy4">76% of total accounts receivable, net of allowances on the condensed consolidated balance sheets. Typically, a significant concentration of components and the products sold are manufactured and obtained from single or limited-source suppliers. The loss of any single or limited-source supplier, the failure of any of these suppliers to perform as expected, or the disruption in the supply chain of components from these suppliers could subject the Company to risks and uncertainties including, but not limited to, increased cost of sales, possible loss of revenues, or significant delays in product development or product deliveries, any of which could adversely affect the Company’s financial condition and operating results. Recently Adopted Accounting Pronouncements In November 2024, the FASB issued ASU No. 2024-04, Debt—Debt with Conversion and Other Options (Subtopic 470-20). The amendments in this ASU clarify the requirements for determining whether certain settlements of convertible debt instruments should be accounted for as an induced conversion. The Company prospectively adopted ASU 2024-04 beginning January 1, 2026. The ASU did not have a material impact on the Company’s financial statements or disclosures. Recently Issued Accounting Pronouncements In November 2024, the FASB issued ASU No. 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40). The amendments in this ASU require additional disclosure of specified information about certain costs and expenses in the notes to the financial statements. ASU 2024-03 is effective for annual periods for the Company beginning January 1, 2027, with early adoption permitted. The Company is currently evaluating the impact this ASU may have on its financial statement disclosures. In December 2025, the FASB issued ASU 2025-11, Interim Reporting (Topic 270): Narrow-Scope Improvements, which provides clarity about current interim disclosure requirements and introduces a disclosure principle requiring entities to disclose events since the end of the last annual reporting period that have a material impact on the entity. ASU 2025-11 will be effective for interim reporting periods beginning after December 15, 2027. The Company is currently evaluating the impact that the adoption of ASU 2025-11 will have on the consolidated financial statements, but does not expect a material impact upon adoption.

Principles of Consolidation and Basis of Presentation The unaudited condensed consolidated financial statements and accompanying notes include the accounts of the Company and its wholly owned subsidiaries, after elimination of all intercompany balances and transactions. The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“US GAAP”) and the requirements of the U.S. Securities and Exchange Commission (the “SEC”) for interim financial information. Certain information and disclosures normally included in consolidated financial statements prepared in accordance with GAAP have been condensed or omitted. Accordingly, these unaudited condensed consolidated financial statements should be read in conjunction with the audited financial statements and notes thereto for the year ended December 31, 2025. The information as of December 31, 2025 included in the condensed consolidated balance sheets was derived from those audited financial statements. The unaudited condensed consolidated financial statements have been prepared on the same basis as the annual consolidated financial statements and, in the opinion of management, reflect all adjustments, which include only normal recurring adjustments, necessary for the fair statement of the Company’s financial information for the interim periods presented. The unaudited condensed consolidated results of operations for the interim period are not necessarily indicative of the results to be expected for the year ending December 31, 2026 or for any other future annual or interim period.

Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires the Company to make estimates and assumptions that affect the reported amounts therein. The most significant estimates and assumptions relate to valuations of intangibles, derivatives and warrants, revenue recognition, inventory valuation, valuation of share-based payments, income taxes, depreciable lives assessment and related disclosure of contingent assets and liabilities. Due to the inherent uncertainty involved, actual results reported in future periods could differ from those estimates.

Foreign Currency Translation Foreign currency transaction gains and losses are a result of the effect of exchange rate changes on transactions denominated in currencies other than the functional currency. Realized gains and losses on those foreign currency transactions are included in determining net loss for the period of exchange and are recorded in other income in the condensed consolidated statements of operations.

Segment Information The Company determines operating segments based on how the chief operating decision maker (“CODM”) manages the business, makes operating decisions around the allocation of resources, and evaluates operating performance. The CODM is the Chief Executive Officer. The Company has determined that it operates in one operating segment and one reportable segment, relating to the sale and servicing of lidar hardware and software, as the CODM regularly reviews financial information presented on a consolidated basis. Financial information regularly reviewed by the CODM includes revenue, income or loss from operations, and net income or loss.

Concentration of Credit Risk Financial instruments that potentially subject the Company to a concentration of credit risk are primarily cash, cash equivalents, and investment securities. As of March 31, 2026, cash and cash equivalents are comprised of operating checking accounts and short-term highly rated money market savings accounts. Short-term investments are comprised of highly rated corporate bonds and U.S. Treasury securities. For the three months ended March 31, 2026, $<span id="xdx_90E_eus-gaap--Revenues_pn5n6_c20260101__20260331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__srt--MajorCustomersAxis__custom--TopTenGlobalOEMCustomerMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zeo2pKgD2RP4" title="Revenue">0.5 million, or <span id="xdx_906_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20260101__20260331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__srt--MajorCustomersAxis__custom--TopTenGlobalOEMCustomerMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zZgKWj7trTB9" title="Concentration risk, percentage">54%, of total revenue was derived from a top-ten global automotive OEM customer, $<span id="xdx_90A_eus-gaap--Revenues_pn5n6_c20260101__20260331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__srt--MajorCustomersAxis__custom--GlobalManufacturerOfConstructionAndMiningMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zPwE93yWzvQc" title="Revenue">0.2 million, or <span id="xdx_902_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20260101__20260331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__srt--MajorCustomersAxis__custom--GlobalManufacturerOfConstructionAndMiningMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zCqeX1ENL1Rg" title="Concentration risk, percentage">22%, of total revenue was derived from a leading global manufacturer of construction and mining equipment, and $<span id="xdx_900_eus-gaap--Revenues_pn5n6_c20260101__20260331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__srt--MajorCustomersAxis__custom--EUBasedRoboticsMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zDDnOVrnlHQ" title="Revenue">0.2 million, or <span id="xdx_903_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20260101__20260331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__srt--MajorCustomersAxis__custom--EUBasedRoboticsMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_z9aDV6J4eyJc" title="Concentration risk, percentage">17%, of total revenue was derived from an EU-based robotics company delivering autonomy systems in the Security & Defense sector. For the same period in 2025, a leading manufacturer of agricultural equipment and an automotive supplier accounted for $<span id="xdx_90E_eus-gaap--Revenues_pn5n6_c20250101__20250331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__srt--MajorCustomersAxis__custom--LeadingManufacturerOfAgriculturalEquipmentMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zuMvDjVJT421" title="Revenue">0.5 million and $<span id="xdx_90C_eus-gaap--Revenues_pn5n6_c20250101__20250331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__srt--MajorCustomersAxis__custom--AutomotiveSupplierMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zyVtDJWxCYNj" title="Revenue">0.1 million of total revenue, respectively, representing <span id="xdx_90E_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20250101__20250331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__srt--MajorCustomersAxis__custom--LeadingManufacturerOfAgriculturalEquipmentMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zEaRBXSK1cwa" title="Concentration risk, percentage">80% and <span id="xdx_90A_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20250101__20250331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__srt--MajorCustomersAxis__custom--AutomotiveSupplierMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_ziWo0euXJ269" title="Concentration risk, percentage">14% of total revenue, respectively. As of March 31, 2026, accounts receivable related to the top customers accounted for <span id="xdx_906_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20260101__20260331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__srt--MajorCustomersAxis__custom--CustomersMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zbhmlJro4vy4">76% of total accounts receivable, net of allowances on the condensed consolidated balance sheets. Typically, a significant concentration of components and the products sold are manufactured and obtained from single or limited-source suppliers. The loss of any single or limited-source supplier, the failure of any of these suppliers to perform as expected, or the disruption in the supply chain of components from these suppliers could subject the Company to risks and uncertainties including, but not limited to, increased cost of sales, possible loss of revenues, or significant delays in product development or product deliveries, any of which could adversely affect the Company’s financial condition and operating results.

500000

0.54

200000

0.22

200000

0.17

500000

100000

0.80

0.14

0.76

Recently Adopted Accounting Pronouncements In November 2024, the FASB issued ASU No. 2024-04, Debt—Debt with Conversion and Other Options (Subtopic 470-20). The amendments in this ASU clarify the requirements for determining whether certain settlements of convertible debt instruments should be accounted for as an induced conversion. The Company prospectively adopted ASU 2024-04 beginning January 1, 2026. The ASU did not have a material impact on the Company’s financial statements or disclosures.

Recently Issued Accounting Pronouncements In November 2024, the FASB issued ASU No. 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40). The amendments in this ASU require additional disclosure of specified information about certain costs and expenses in the notes to the financial statements. ASU 2024-03 is effective for annual periods for the Company beginning January 1, 2027, with early adoption permitted. The Company is currently evaluating the impact this ASU may have on its financial statement disclosures. In December 2025, the FASB issued ASU 2025-11, Interim Reporting (Topic 270): Narrow-Scope Improvements, which provides clarity about current interim disclosure requirements and introduces a disclosure principle requiring entities to disclose events since the end of the last annual reporting period that have a material impact on the entity. ASU 2025-11 will be effective for interim reporting periods beginning after December 15, 2027. The Company is currently evaluating the impact that the adoption of ASU 2025-11 will have on the consolidated financial statements, but does not expect a material impact upon adoption.

3. NET LOSS PER SHARE Basic net loss per share is calculated using the weighted-average number of common shares outstanding during the period. Diluted net loss per share is calculated using the weighted-average number of common shares outstanding and the dilutive effect of all potentially dilutive securities, including common stock equivalents and convertible securities. As the effect of dilutive securities outstanding during the period is anti-dilutive, diluted net loss per share is equal to basic net loss per share. The components of basic and diluted net loss per share are as follows (in thousands, except loss per share data): SCHEDULE OF BASIC AND DILUTED NET LOSS PER SHARE <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 90%; margin-right: auto"> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="6" style="text-align: center">Three Months Ended</td><td style="text-align: center"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; text-align: center"> </td><td style="padding-bottom: 1pt; text-align: center"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center">March 31,</td><td style="padding-bottom: 1pt; text-align: center"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; text-align: center; font-style: italic"> </td><td style="padding-bottom: 1pt; text-align: center"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2026</td><td style="padding-bottom: 1pt; text-align: center"> </td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Numerator:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt; width: 64%; text-align: left">Net loss available for common shareholders - basic and diluted</td><td style="padding-bottom: 2.5pt; width: 2%"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; width: 14%; text-align: right">(25,294</td><td style="padding-bottom: 2.5pt; width: 1%; text-align: left">)</td><td style="padding-bottom: 2.5pt; width: 2%"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; width: 14%; text-align: right">(28,779</td><td style="padding-bottom: 2.5pt; width: 1%; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Denominator:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt; text-align: left">Weighted-average common shares outstanding - basic and diluted</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">308,650</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">235,933</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt; text-align: left">Net loss per share - basic and diluted</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(0.08</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(0.12</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> </table> For the three months ended March 31, 2026 and 2025, the following securities from net loss per share have been excluded as the effect of including them would have been anti-dilutive: SCHEDULE OF ANTIDILUTIVE SECURITIES EXCLUDED FROM COMPUTATION OF EARNINGS PER SHARE <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 90%; margin-right: auto"> <tr style="display: none; vertical-align: bottom"> <td style="padding-bottom: 1pt; text-align: center; font-style: italic"> </td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"> </td> <td colspan="2" id="xdx_491_20260101__20260331_zVe0K7j16eh8" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold"> </td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"> </td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"> </td> <td colspan="2" id="xdx_490_20250101__20250331_zw1YbPWMLdK7" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold"> </td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">March 31,</td><td style="padding-bottom: 1pt; text-align: center"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; text-align: left; font-style: italic">(in millions)</td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">2026</td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"> </td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40E_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pn5n6_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--OutstandingOptionsExercisableMember_zfkOoJoQ2EI9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left">Outstanding options exercisable</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">0.6</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">0.7</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pn5n6_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--NonvestedRestrictedAndPerformanceStockUnitsMember_zh750I6do3w5" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Nonvested restricted and performance stock units</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7.1</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">12.4</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pn5n6_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--DerivativeLiabilityMember_zbdqjaGxezkg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Shares of common stock that may be issued through conversion of the derivative liability</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">72.8</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">20.5</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pn5n6_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--ExerciseOfWarrantsMember_zhcIKoKyz6nd" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Shares of common stock that may be issued through the exercise of warrants</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5.8</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5.8</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pn5n6_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--ExerciseOfWarrantsMember_zN5r8aW0SiPd" style="display: none; vertical-align: bottom; background-color: White"> <td style="text-align: left">Antidilutive securities excluded from computation of earnings per share, amount</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5.8</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5.8</td><td style="text-align: left"> </td></tr> </table>

The components of basic and diluted net loss per share are as follows (in thousands, except loss per share data): SCHEDULE OF BASIC AND DILUTED NET LOSS PER SHARE <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 90%; margin-right: auto"> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="6" style="text-align: center">Three Months Ended</td><td style="text-align: center"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; text-align: center"> </td><td style="padding-bottom: 1pt; text-align: center"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center">March 31,</td><td style="padding-bottom: 1pt; text-align: center"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; text-align: center; font-style: italic"> </td><td style="padding-bottom: 1pt; text-align: center"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2026</td><td style="padding-bottom: 1pt; text-align: center"> </td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Numerator:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt; width: 64%; text-align: left">Net loss available for common shareholders - basic and diluted</td><td style="padding-bottom: 2.5pt; width: 2%"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; width: 14%; text-align: right">(25,294</td><td style="padding-bottom: 2.5pt; width: 1%; text-align: left">)</td><td style="padding-bottom: 2.5pt; width: 2%"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; width: 14%; text-align: right">(28,779</td><td style="padding-bottom: 2.5pt; width: 1%; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Denominator:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt; text-align: left">Weighted-average common shares outstanding - basic and diluted</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">308,650</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">235,933</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt; text-align: left">Net loss per share - basic and diluted</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(0.08</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(0.12</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> </table>

-25294000

-28779000

308650000

235933000

-0.08

-0.12

For the three months ended March 31, 2026 and 2025, the following securities from net loss per share have been excluded as the effect of including them would have been anti-dilutive: SCHEDULE OF ANTIDILUTIVE SECURITIES EXCLUDED FROM COMPUTATION OF EARNINGS PER SHARE <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 90%; margin-right: auto"> <tr style="display: none; vertical-align: bottom"> <td style="padding-bottom: 1pt; text-align: center; font-style: italic"> </td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"> </td> <td colspan="2" id="xdx_491_20260101__20260331_zVe0K7j16eh8" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold"> </td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"> </td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"> </td> <td colspan="2" id="xdx_490_20250101__20250331_zw1YbPWMLdK7" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold"> </td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">March 31,</td><td style="padding-bottom: 1pt; text-align: center"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; text-align: left; font-style: italic">(in millions)</td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">2026</td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"> </td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40E_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pn5n6_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--OutstandingOptionsExercisableMember_zfkOoJoQ2EI9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left">Outstanding options exercisable</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">0.6</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">0.7</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pn5n6_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--NonvestedRestrictedAndPerformanceStockUnitsMember_zh750I6do3w5" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Nonvested restricted and performance stock units</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7.1</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">12.4</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pn5n6_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--DerivativeLiabilityMember_zbdqjaGxezkg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Shares of common stock that may be issued through conversion of the derivative liability</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">72.8</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">20.5</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pn5n6_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--ExerciseOfWarrantsMember_zhcIKoKyz6nd" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Shares of common stock that may be issued through the exercise of warrants</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5.8</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5.8</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pn5n6_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--ExerciseOfWarrantsMember_zN5r8aW0SiPd" style="display: none; vertical-align: bottom; background-color: White"> <td style="text-align: left">Antidilutive securities excluded from computation of earnings per share, amount</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5.8</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5.8</td><td style="text-align: left"> </td></tr> </table>

600000

700000

7100000

12400000

72800000

20500000

5800000

4. BUSINESS COMBINATIONS Scantinel On January 1, 2026, the Company completed the acquisition of certain assets from Scantinel Photonics GmbH (“Scantinel”) related to Scantinel’s 1550nm FMCW ultra-long-range lidar sensor business. Total purchase consideration related to the transaction, comprised primarily of the purchase price and funding of operations during the period between signing and closing, was $<span id="xdx_90B_eus-gaap--BusinessCombinationConsiderationTransferred1_pn5n6_c20251001__20251231__us-gaap--BusinessAcquisitionAxis__custom--ScantinelPhotonicsGmbHMember_zKJcgB8060N" title="Purchase consideration">2.2 million, which was paid prior to the closing of the transaction during the three months ended December 31, 2025. Additionally, the Company incurred $<span id="xdx_903_eus-gaap--BusinessCombinationAcquisitionRelatedCosts_pn5n6_c20260101__20260331__us-gaap--BusinessAcquisitionAxis__custom--ScantinelPhotonicsGmbHMember_z46hl7veSFB8" title="Acquisition related costs">0.1 million of acquisition-related costs associated with the acquisition during the three months ended March 31, 2026, which are included in sales, marketing, general and administrative expense on the condensed consolidated statements of operations. The transaction has been accounted for as a business combination. The results of operations for the acquisition are included in the condensed consolidated financial statements from the date of acquisition onwards. <p id="xdx_899_eus-gaap--ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock_hus-gaap--BusinessAcquisitionAxis__custom--ScantinelPhotonicsGmbHMember_zMHFLSifJ75d" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">The following table summarizes the preliminary purchase price allocation to assets acquired (in thousands): SCHEDULE OF PURCHASE PRICE ALLOCATION TO ASSETS ACQUIRED AND LIABILITIES ASSUMED <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 75%; margin-right: auto"> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" id="xdx_496_20260101__us-gaap--BusinessAcquisitionAxis__custom--ScantinelPhotonicsGmbHMember_z4jdNE1ZO569" style="text-align: center"> </td><td style="text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="text-align: center; font-weight: bold">Weighted Average</td><td style="text-align: center; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; text-align: center; font-style: italic"> </td><td style="padding-bottom: 1pt; text-align: center; font-style: italic"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">Amount </td><td style="padding-bottom: 1pt; text-align: center; font-style: italic"> </td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; white-space: nowrap; text-align: center; font-weight: bold">Useful Life (in years)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; width: 64%; text-align: left">Total purchase consideration</td><td style="padding-bottom: 1pt; width: 2%"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 14%; text-align: right"><span id="xdx_905_eus-gaap--BusinessCombinationConsiderationTransferred1_pn3n3_uUSD_c20260101__20260101__us-gaap--BusinessAcquisitionAxis__custom--ScantinelPhotonicsGmbHMember_zuE5ts7piEUi" title="Consideration transferred">2,244</td><td style="padding-bottom: 1pt; width: 1%; text-align: left"> </td><td style="padding-bottom: 1pt; width: 2%; font-weight: bold"> </td> <td style="padding-bottom: 1pt; width: 1%; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 1pt; width: 14%; font-weight: bold; text-align: right"> </td><td style="padding-bottom: 1pt; width: 1%; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-style: italic"> </td><td style="font-style: italic"> </td> <td style="font-style: italic; text-align: left"> </td><td style="font-style: italic; text-align: right"> </td><td style="font-style: italic; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right"> </td><td style="font-weight: bold; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedInventory_iI_pn3n3_maBCRIAzols_z2xCyRyy7DKf" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Inventory</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPropertyPlantAndEquipment_iI_pn3n3_maBCRIAzols_zwQuQomgY0w8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Property and equipment, net</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">514</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Intangible assets:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_ecustom--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedDevelopedTechnology_iI_pn3n3_maBCRIAzols_zYWMwZEoaya5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; padding-bottom: 1pt; text-align: left">Developed technology</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,877</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"><span id="xdx_90A_eus-gaap--AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife_dtY_c20260101__20260101__us-gaap--BusinessAcquisitionAxis__custom--ScantinelPhotonicsGmbHMember__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--DevelopedTechnologyRightsMember_fKDEp_zS34xh5qTmh4" title="Acquire intangible assets, weighted average useful life">7</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40B_ecustom--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCustomerRelationships_iI_pn3n3_maBCRIAzols_zI0GRN72Xw36" style="display: none; vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; text-align: left">Customer relationships</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibles_iI_pn3n3_maBCRIAzols_zlMywAXLZNK2" style="display: none; vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; text-align: left">Goodwill</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet_iTI_pn3n3_mtBCRIAzols_zOVM5QyxC158" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; text-align: left">Total identifiable net assets</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">2,391</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Bargain purchase gain(1)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90C_eus-gaap--BusinessCombinationBargainPurchaseGainRecognizedAmount_pn3n3_di_c20260101__20260101__us-gaap--BusinessAcquisitionAxis__custom--ScantinelPhotonicsGmbHMember_fKDEp_ze7lwoRY3AQb" title="Bargain purchase amount">(147</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">(1)</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">The bargain purchase gain represents the excess of the fair value of the underlying net assets acquired over the purchase consideration and is included in bargain purchase gain in the condensed consolidated statements of operations. The bargain purchase gain was attributable to the negotiation process with Scantinel during its insolvency proceedings resulting in cash consideration paid being less than the fair value of the net assets.</td></tr></table> The estimated fair value of acquired technology was calculated through the income approach using the multi-period excess earnings method. The initial allocation of the purchase price was based on preliminary valuations and assumptions and is subject to change within the measurement period, pending final asset valuations related to property and equipment, net and intangible assets. The Company expects to finalize the allocation of the purchase price as soon as practicable and no later than one year from the acquisition date. Revenue and net loss from the acquisition included in the condensed consolidated statements of operations for the three months ended March 31, 2026 is $0.0 million and $1.1 million, respectively. Luminar On January 26, 2026, the Company entered into an agreement with Luminar Technologies, Inc. (“Luminar”), pursuant to which MicroVision agreed to acquire from Luminar certain assets related to Luminar’s worldwide lidar sensor business, including intellectual property and inventory related to its IRIS and HALO 1550nm ToF solid-state long-range sensors. The acquisition was approved by the U.S. Bankruptcy Court on January 27, 2026. On February 3, 2026, the acquisition closed and MicroVision paid Luminar the purchase price of $33.0 million (less the previously paid 10% deposit) plus cure costs of $0.2 million, funded through cash on hand. In addition to total purchase consideration of $<span id="xdx_90F_eus-gaap--BusinessCombinationConsiderationTransferred1_pn5n6_c20260101__20260331__us-gaap--BusinessAcquisitionAxis__custom--LuminarTechnologiesIncMember_zQjs6tCPMBEa" title="Purchase consideration">33.2 million, the Company incurred $<span id="xdx_90C_eus-gaap--BusinessCombinationAcquisitionRelatedCosts_pn5n6_c20260101__20260331__us-gaap--BusinessAcquisitionAxis__custom--LuminarTechnologiesIncMember_zrUU99WavPaj" title="Acquisition related costs">1.7 million of acquisition-related costs associated with the acquisition during the three months ended March 31, 2026, which are included in sales, marketing, general and administrative expense on the condensed consolidated statements of operations. The transaction has been accounted for as a business combination. The results of operations for the acquisition are included in the condensed consolidated financial statements from the date of acquisition onwards. <p id="xdx_892_eus-gaap--ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock_hus-gaap--BusinessAcquisitionAxis__custom--LuminarTechnologiesIncMember_zv4uGFrw9XLk" style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0pt 0pt 0">The following table summarizes the preliminary purchase price allocation to assets acquired (in thousands): SCHEDULE OF PURCHASE PRICE ALLOCATION TO ASSETS ACQUIRED AND LIABILITIES ASSUMED <table cellpadding="0" cellspacing="0" id="xdx_302_134_pn3n3_zPttnTzAH6b1" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 75%; margin-right: auto" summary="xdx: Disclosure - SCHEDULE OF PURCHASE PRICE ALLOCATION TO ASSETS ACQUIRED AND LIABILITIES ASSUMED (Details)"> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" id="xdx_497_20260126__us-gaap--BusinessAcquisitionAxis__custom--LuminarTechnologiesIncMember_z8c7AgoYgmH9"> </td><td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="text-align: center; font-weight: bold">Weighted Average</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; font-style: italic"> </td><td style="padding-bottom: 1pt; font-style: italic"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; white-space: nowrap; font-weight: bold">Amount </td><td style="padding-bottom: 1pt; font-style: italic"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; white-space: nowrap; font-weight: bold">Useful Life (in years)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left">Total purchase consideration</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right"><span id="xdx_90F_eus-gaap--BusinessCombinationConsiderationTransferred1_pn3n3_uUSD_c20260126__20260126__us-gaap--BusinessAcquisitionAxis__custom--LuminarTechnologiesIncMember_z0e4Vs2xmAa6" title="Consideration transferred">33,177</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 14%; font-weight: bold; text-align: right"> </td><td style="width: 1%; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-style: italic"> </td><td style="font-style: italic"> </td> <td style="font-style: italic; text-align: left"> </td><td style="font-style: italic; text-align: right"> </td><td style="font-style: italic; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right"> </td><td style="font-weight: bold; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedInventory_iI_pn3n3_maBCRIAzols_zEbihtdSgat2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Inventory</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">3,800</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPropertyPlantAndEquipment_iI_pn3n3_maBCRIAzols_zEgQSVsqEiga" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Property and equipment, net</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">13,200</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Intangible assets:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_ecustom--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedDevelopedTechnology_iI_pn3n3_maBCRIAzols_zH9TxPSXaLq4" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Developed technology</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">9,400</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_904_eus-gaap--AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife_dtY_c20260126__20260126__us-gaap--BusinessAcquisitionAxis__custom--LuminarTechnologiesIncMember__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--DevelopedTechnologyRightsMember_fKDEp_zlT3frSRzqOd" title="Acquire intangible assets, weighted average useful life">10</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_ecustom--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCustomerRelationships_iI_pn3n3_maBCRIAzols_zXCBZjxHIDq8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Customer relationships</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,100</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90B_eus-gaap--AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife_dtY_c20260126__20260126__us-gaap--BusinessAcquisitionAxis__custom--LuminarTechnologiesIncMember__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--CustomerRelationshipsMember_fKDEp_znGYYGeIpIO" title="Acquire intangible assets, weighted average useful life">10</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibles_iI_pn3n3_maBCRIAzols_zXmPEolnqy31" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Goodwill</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">3,677</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet_iTI_pn3n3_mtBCRIAzols_zT7JhE3flkK" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; text-align: left">Total identifiable net assets</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">33,177</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table> The estimated fair value of developed technology was calculated through the income approach using the multi-period excess earnings method. The estimated fair value of customer relationships was calculated through the income approach using the distributor method. The initial allocation of the purchase price was based on preliminary valuations and assumptions and is subject to change within the measurement period, pending final asset valuations related to inventory, property and equipment, net, and intangible assets. The Company expects to finalize the allocation of the purchase price as soon as practicable and no later than one year from the acquisition date. Revenue and net loss from the acquisition included in the condensed consolidated statements of operations for the three months ended March 31, 2026 is $0.7 million and $2.3 million, respectively. Supplemental Unaudited Pro Forma Information The below unaudited pro forma financial information summarizes the combined results of operations for the Company and the Luminar lidar business as if the acquisition had been completed on January 1, 2025. The unaudited pro forma information presented below is for informational purposes only and is not necessarily indicative of the consolidated results of operations of the combined business had the acquisition actually occurred at the beginning of fiscal year 2025, nor is it necessarily indicative of the results of future operations of the combined businesses. Nonrecurring pro forma adjustments include acquisition-related costs of $1.7 million that are assumed to have been incurred on January 1, 2025. The following table summarizes the unaudited pro forma results (in thousands): SCHEDULE OF SUMMARIZES THE UNAUDITED PRO FORMA <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="display: none; vertical-align: bottom"> <td style="text-align: center"> </td><td style="text-align: center"> </td> <td colspan="2" id="xdx_497_20260101__20260331_zjtoWIVQp7Y6" style="border-bottom: Black 1pt solid; text-align: center"> </td><td style="text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" id="xdx_49B_20250101__20250331_z5li11xCvy9h" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="6" style="text-align: center">Three Months Ended</td><td style="text-align: center"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"></td><td style="text-align: center"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center">March 31,</td><td style="text-align: center"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="text-align: center"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2026</td><td style="text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">2025</td><td style="font-weight: bold"> </td></tr> <tr id="xdx_40E_eus-gaap--BusinessAcquisitionsProFormaRevenue_pn3n3_zyJR4rcztwU2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left">Total revenue</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">935</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%; font-weight: bold"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">14,346</td><td style="width: 1%; font-weight: bold; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--BusinessAcquisitionsProFormaNetIncomeLoss_pn3n3_zZpcclUsFtRg" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Net loss</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(26,329</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(106,845</td><td style="text-align: left">)</td></tr> </table>

2200000

100000

<p id="xdx_899_eus-gaap--ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock_hus-gaap--BusinessAcquisitionAxis__custom--ScantinelPhotonicsGmbHMember_zMHFLSifJ75d" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">The following table summarizes the preliminary purchase price allocation to assets acquired (in thousands): SCHEDULE OF PURCHASE PRICE ALLOCATION TO ASSETS ACQUIRED AND LIABILITIES ASSUMED <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 75%; margin-right: auto"> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" id="xdx_496_20260101__us-gaap--BusinessAcquisitionAxis__custom--ScantinelPhotonicsGmbHMember_z4jdNE1ZO569" style="text-align: center"> </td><td style="text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="text-align: center; font-weight: bold">Weighted Average</td><td style="text-align: center; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; text-align: center; font-style: italic"> </td><td style="padding-bottom: 1pt; text-align: center; font-style: italic"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">Amount </td><td style="padding-bottom: 1pt; text-align: center; font-style: italic"> </td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; white-space: nowrap; text-align: center; font-weight: bold">Useful Life (in years)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; width: 64%; text-align: left">Total purchase consideration</td><td style="padding-bottom: 1pt; width: 2%"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 14%; text-align: right"><span id="xdx_905_eus-gaap--BusinessCombinationConsiderationTransferred1_pn3n3_uUSD_c20260101__20260101__us-gaap--BusinessAcquisitionAxis__custom--ScantinelPhotonicsGmbHMember_zuE5ts7piEUi" title="Consideration transferred">2,244</td><td style="padding-bottom: 1pt; width: 1%; text-align: left"> </td><td style="padding-bottom: 1pt; width: 2%; font-weight: bold"> </td> <td style="padding-bottom: 1pt; width: 1%; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 1pt; width: 14%; font-weight: bold; text-align: right"> </td><td style="padding-bottom: 1pt; width: 1%; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-style: italic"> </td><td style="font-style: italic"> </td> <td style="font-style: italic; text-align: left"> </td><td style="font-style: italic; text-align: right"> </td><td style="font-style: italic; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right"> </td><td style="font-weight: bold; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedInventory_iI_pn3n3_maBCRIAzols_z2xCyRyy7DKf" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Inventory</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPropertyPlantAndEquipment_iI_pn3n3_maBCRIAzols_zwQuQomgY0w8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Property and equipment, net</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">514</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Intangible assets:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_ecustom--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedDevelopedTechnology_iI_pn3n3_maBCRIAzols_zYWMwZEoaya5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; padding-bottom: 1pt; text-align: left">Developed technology</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,877</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"><span id="xdx_90A_eus-gaap--AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife_dtY_c20260101__20260101__us-gaap--BusinessAcquisitionAxis__custom--ScantinelPhotonicsGmbHMember__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--DevelopedTechnologyRightsMember_fKDEp_zS34xh5qTmh4" title="Acquire intangible assets, weighted average useful life">7</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40B_ecustom--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCustomerRelationships_iI_pn3n3_maBCRIAzols_zI0GRN72Xw36" style="display: none; vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; text-align: left">Customer relationships</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibles_iI_pn3n3_maBCRIAzols_zlMywAXLZNK2" style="display: none; vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; text-align: left">Goodwill</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet_iTI_pn3n3_mtBCRIAzols_zOVM5QyxC158" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; text-align: left">Total identifiable net assets</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">2,391</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Bargain purchase gain(1)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90C_eus-gaap--BusinessCombinationBargainPurchaseGainRecognizedAmount_pn3n3_di_c20260101__20260101__us-gaap--BusinessAcquisitionAxis__custom--ScantinelPhotonicsGmbHMember_fKDEp_ze7lwoRY3AQb" title="Bargain purchase amount">(147</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">(1)</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">The bargain purchase gain represents the excess of the fair value of the underlying net assets acquired over the purchase consideration and is included in bargain purchase gain in the condensed consolidated statements of operations. The bargain purchase gain was attributable to the negotiation process with Scantinel during its insolvency proceedings resulting in cash consideration paid being less than the fair value of the net assets.</td></tr></table>

2244000

514000

1877000

P7Y

2391000

147000

0.0

1100000

33000000.0

200000

33200000

1700000

<p id="xdx_892_eus-gaap--ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock_hus-gaap--BusinessAcquisitionAxis__custom--LuminarTechnologiesIncMember_zv4uGFrw9XLk" style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0pt 0pt 0">The following table summarizes the preliminary purchase price allocation to assets acquired (in thousands): SCHEDULE OF PURCHASE PRICE ALLOCATION TO ASSETS ACQUIRED AND LIABILITIES ASSUMED <table cellpadding="0" cellspacing="0" id="xdx_302_134_pn3n3_zPttnTzAH6b1" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 75%; margin-right: auto" summary="xdx: Disclosure - SCHEDULE OF PURCHASE PRICE ALLOCATION TO ASSETS ACQUIRED AND LIABILITIES ASSUMED (Details)"> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" id="xdx_497_20260126__us-gaap--BusinessAcquisitionAxis__custom--LuminarTechnologiesIncMember_z8c7AgoYgmH9"> </td><td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="text-align: center; font-weight: bold">Weighted Average</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; font-style: italic"> </td><td style="padding-bottom: 1pt; font-style: italic"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; white-space: nowrap; font-weight: bold">Amount </td><td style="padding-bottom: 1pt; font-style: italic"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; white-space: nowrap; font-weight: bold">Useful Life (in years)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left">Total purchase consideration</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right"><span id="xdx_90F_eus-gaap--BusinessCombinationConsiderationTransferred1_pn3n3_uUSD_c20260126__20260126__us-gaap--BusinessAcquisitionAxis__custom--LuminarTechnologiesIncMember_z0e4Vs2xmAa6" title="Consideration transferred">33,177</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left"> </td><td style="width: 14%; font-weight: bold; text-align: right"> </td><td style="width: 1%; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-style: italic"> </td><td style="font-style: italic"> </td> <td style="font-style: italic; text-align: left"> </td><td style="font-style: italic; text-align: right"> </td><td style="font-style: italic; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right"> </td><td style="font-weight: bold; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedInventory_iI_pn3n3_maBCRIAzols_zEbihtdSgat2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Inventory</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">3,800</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPropertyPlantAndEquipment_iI_pn3n3_maBCRIAzols_zEgQSVsqEiga" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Property and equipment, net</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">13,200</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Intangible assets:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_ecustom--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedDevelopedTechnology_iI_pn3n3_maBCRIAzols_zH9TxPSXaLq4" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Developed technology</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">9,400</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_904_eus-gaap--AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife_dtY_c20260126__20260126__us-gaap--BusinessAcquisitionAxis__custom--LuminarTechnologiesIncMember__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--DevelopedTechnologyRightsMember_fKDEp_zlT3frSRzqOd" title="Acquire intangible assets, weighted average useful life">10</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_ecustom--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCustomerRelationships_iI_pn3n3_maBCRIAzols_zXCBZjxHIDq8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Customer relationships</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,100</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90B_eus-gaap--AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife_dtY_c20260126__20260126__us-gaap--BusinessAcquisitionAxis__custom--LuminarTechnologiesIncMember__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--CustomerRelationshipsMember_fKDEp_znGYYGeIpIO" title="Acquire intangible assets, weighted average useful life">10</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibles_iI_pn3n3_maBCRIAzols_zXmPEolnqy31" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Goodwill</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">3,677</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet_iTI_pn3n3_mtBCRIAzols_zT7JhE3flkK" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; text-align: left">Total identifiable net assets</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">33,177</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt; text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table>

33177000

3800000

13200000

9400000

P10Y

3100000

P10Y

3677000

33177000

700000

2300000

1700000

The following table summarizes the unaudited pro forma results (in thousands): SCHEDULE OF SUMMARIZES THE UNAUDITED PRO FORMA <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="display: none; vertical-align: bottom"> <td style="text-align: center"> </td><td style="text-align: center"> </td> <td colspan="2" id="xdx_497_20260101__20260331_zjtoWIVQp7Y6" style="border-bottom: Black 1pt solid; text-align: center"> </td><td style="text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" id="xdx_49B_20250101__20250331_z5li11xCvy9h" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="6" style="text-align: center">Three Months Ended</td><td style="text-align: center"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"></td><td style="text-align: center"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center">March 31,</td><td style="text-align: center"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="text-align: center"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2026</td><td style="text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">2025</td><td style="font-weight: bold"> </td></tr> <tr id="xdx_40E_eus-gaap--BusinessAcquisitionsProFormaRevenue_pn3n3_zyJR4rcztwU2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left">Total revenue</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">935</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%; font-weight: bold"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">14,346</td><td style="width: 1%; font-weight: bold; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--BusinessAcquisitionsProFormaNetIncomeLoss_pn3n3_zZpcclUsFtRg" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Net loss</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(26,329</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(106,845</td><td style="text-align: left">)</td></tr> </table>

935000

14346000

-26329000

-106845000

5. REVENUE RECOGNITION Disaggregation of Revenue The following table provides information about disaggregated revenue by timing of revenue recognition (in thousands): SCHEDULE OF DISAGGREGATION OF REVENUE <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="padding-bottom: 1pt; text-align: center; font-weight: bold"> </td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"> </td> <td colspan="2" id="xdx_496_20260101__20260331__us-gaap--StatementBusinessSegmentsAxis__custom--ProductRevenueMember_zilG4khuLDVl" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold"> </td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"> </td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"> </td> <td colspan="2" id="xdx_49D_20260101__20260331__us-gaap--StatementBusinessSegmentsAxis__custom--LicenseAndRoyaltyRevenueMember_z8GUYTJGb2K4" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold"> </td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"> </td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"> </td> <td colspan="2" id="xdx_49D_20260101__20260331__us-gaap--StatementBusinessSegmentsAxis__custom--ContractRevenueMember_zbaOez3nsZ2g" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold"> </td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"> </td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"> </td> <td colspan="2" id="xdx_494_20260101__20260331_zdXJU1qHA94k" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; font-style: italic"> </td><td style="padding-bottom: 1pt; font-style: italic"> </td> <td colspan="14" style="border-bottom: Black 1pt solid; text-align: center">Three Months Ended March 31, 2026</td><td style="padding-bottom: 1pt; text-align: center; font-style: italic"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="text-align: center; font-weight: bold">License and</td><td style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="text-align: center; font-weight: bold">Product</td><td style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="text-align: center; font-weight: bold">Royalty</td><td style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="text-align: center; font-weight: bold">Contract</td><td style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; text-align: center; font-weight: bold"> </td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">Revenue</td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"> </td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">Revenue</td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"> </td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">Revenue</td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"> </td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Timing of revenue recognition:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_hus-gaap--TimingOfTransferOfGoodOrServiceAxis__us-gaap--TransferredAtPointInTimeMember_zNTKWdfhxhwl" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; width: 40%; text-align: left">Transferred at a point in time</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">909</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">909</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_hus-gaap--TimingOfTransferOfGoodOrServiceAxis__us-gaap--TransferredOverTimeMember_z7ghlQUqXAh5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; padding-left: 10pt; text-align: left">Transferred over time</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">26</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">26</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_z1oihCbll4o9" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; padding-left: 10pt">Total</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">909</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">26</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">935</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_490_20250101__20250331__us-gaap--StatementBusinessSegmentsAxis__custom--ProductRevenueMember_zeyuTAx67Jkb" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20250101__20250331__us-gaap--StatementBusinessSegmentsAxis__custom--LicenseAndRoyaltyRevenueMember_z4av3FiIsOl" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20250101__20250331__us-gaap--StatementBusinessSegmentsAxis__custom--ContractRevenueMember_zyJC1jiLkbXb" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_493_20250101__20250331_zVZ2calUEGb7" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-style: italic"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="14" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Three Months Ended March 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">License and</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Product</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Royalty</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Contract</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Revenue</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Revenue</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Revenue</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Timing of revenue recognition:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_hus-gaap--TimingOfTransferOfGoodOrServiceAxis__us-gaap--TransferredAtPointInTimeMember_zC4ThJEja9Q6" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; width: 40%; text-align: left; padding-bottom: 1pt">Transferred at a point in time</td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 11%; text-align: right">504</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 11%; text-align: right">85</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 11%; text-align: right">-</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 11%; text-align: right">589</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_zYOrTIG3cFkk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">504</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">85</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">589</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Contract Acquisition Costs The Company is required to capitalize certain contract acquisition costs consisting primarily of commissions paid when contracts are signed. As the Company currently does not pay any commissions upon the signing of a contract, no commission cost has been incurred as of March 31, 2026 and 2025.

The following table provides information about disaggregated revenue by timing of revenue recognition (in thousands): SCHEDULE OF DISAGGREGATION OF REVENUE <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="padding-bottom: 1pt; text-align: center; font-weight: bold"> </td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"> </td> <td colspan="2" id="xdx_496_20260101__20260331__us-gaap--StatementBusinessSegmentsAxis__custom--ProductRevenueMember_zilG4khuLDVl" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold"> </td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"> </td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"> </td> <td colspan="2" id="xdx_49D_20260101__20260331__us-gaap--StatementBusinessSegmentsAxis__custom--LicenseAndRoyaltyRevenueMember_z8GUYTJGb2K4" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold"> </td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"> </td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"> </td> <td colspan="2" id="xdx_49D_20260101__20260331__us-gaap--StatementBusinessSegmentsAxis__custom--ContractRevenueMember_zbaOez3nsZ2g" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold"> </td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"> </td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"> </td> <td colspan="2" id="xdx_494_20260101__20260331_zdXJU1qHA94k" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; font-style: italic"> </td><td style="padding-bottom: 1pt; font-style: italic"> </td> <td colspan="14" style="border-bottom: Black 1pt solid; text-align: center">Three Months Ended March 31, 2026</td><td style="padding-bottom: 1pt; text-align: center; font-style: italic"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="text-align: center; font-weight: bold">License and</td><td style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="text-align: center; font-weight: bold">Product</td><td style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="text-align: center; font-weight: bold">Royalty</td><td style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="text-align: center; font-weight: bold">Contract</td><td style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td> <td colspan="2" style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; text-align: center; font-weight: bold"> </td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">Revenue</td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"> </td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">Revenue</td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"> </td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">Revenue</td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"> </td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Timing of revenue recognition:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_hus-gaap--TimingOfTransferOfGoodOrServiceAxis__us-gaap--TransferredAtPointInTimeMember_zNTKWdfhxhwl" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; width: 40%; text-align: left">Transferred at a point in time</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">909</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">909</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_hus-gaap--TimingOfTransferOfGoodOrServiceAxis__us-gaap--TransferredOverTimeMember_z7ghlQUqXAh5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; padding-left: 10pt; text-align: left">Transferred over time</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">26</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">26</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_z1oihCbll4o9" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; padding-left: 10pt">Total</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">909</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">26</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">935</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_490_20250101__20250331__us-gaap--StatementBusinessSegmentsAxis__custom--ProductRevenueMember_zeyuTAx67Jkb" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49A_20250101__20250331__us-gaap--StatementBusinessSegmentsAxis__custom--LicenseAndRoyaltyRevenueMember_z4av3FiIsOl" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20250101__20250331__us-gaap--StatementBusinessSegmentsAxis__custom--ContractRevenueMember_zyJC1jiLkbXb" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_493_20250101__20250331_zVZ2calUEGb7" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-style: italic"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="14" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Three Months Ended March 31, 2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">License and</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Product</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Royalty</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Contract</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Revenue</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Revenue</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Revenue</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Timing of revenue recognition:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_hus-gaap--TimingOfTransferOfGoodOrServiceAxis__us-gaap--TransferredAtPointInTimeMember_zC4ThJEja9Q6" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; width: 40%; text-align: left; padding-bottom: 1pt">Transferred at a point in time</td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 11%; text-align: right">504</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 11%; text-align: right">85</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 11%; text-align: right">-</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 11%; text-align: right">589</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_zYOrTIG3cFkk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">504</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">85</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">589</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

909000

26000

909000

26000

935000

504000

85000

589000

504000

85000

589000

6. INVESTMENT SECURITIES, AVAILABLE-FOR-SALE AND FAIR VALUE MEASUREMENTS Investment securities, available-for-sale is comprised of corporate and government debt securities. The principal markets for the debt securities are dealer markets which have a high level of price transparency. The market participants for debt securities are typically large money center banks and regional banks, brokers, dealers, pension funds, and other entities with debt investment portfolios. Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability in an orderly transaction between market participants. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or liability. As a basis for considering such assumptions, the authoritative guidance establishes a three level fair value inputs hierarchy and requires an entity to maximize the use of observable valuation inputs and minimize the use of unobservable inputs. The Company uses market data, assumptions, and risks that market participants would use in measuring the fair value of the asset or liability, including the risks inherent in the inputs and the valuation techniques. The hierarchy is summarized below. Level 1 - Quoted prices in active markets for identical assets and liabilities at the measurement date that the reporting entity has the ability to access. Level 2 - Observable inputs other than quoted prices included in Level 1, such as quoted prices for similar assets and liabilities in active markets; quoted prices for identical or similar assets and liabilities in markets that are not active; or other inputs that are observable or can be corroborated by observable market data. Level 3 - Unobservable inputs for which there is little or no market data, which requires us to develop our own assumptions, which are significant to the measurement of the fair values. <p id="xdx_898_eus-gaap--FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTableTextBlock_zcvhk6LClSDi" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">The valuation inputs hierarchy classification for assets measured at fair value on a recurring basis are summarized below as of December 31, 2025 (in thousands). The table does not include cash held in money market savings accounts. SCHEDULE OF FAIR VALUE HIERARCHY ASSETS AND LIABILITIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 85%; margin-right: auto"> <tr style="vertical-align: bottom"> <td style="font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 1</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 2</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 3</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">As of December 31, 2025</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; text-align: left; padding-left: 10pt">Corporate debt securities</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_989_eus-gaap--AvailableForSaleSecuritiesDebtSecuritiesCurrent_iI_pn3n3_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FinancialInstrumentAxis__us-gaap--CorporateDebtSecuritiesMember_zLOqpe5HYjy" style="width: 11%; text-align: right" title="Assets">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98B_eus-gaap--AvailableForSaleSecuritiesDebtSecuritiesCurrent_iI_pn3n3_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FinancialInstrumentAxis__us-gaap--CorporateDebtSecuritiesMember_zMHDdHGyxxx4" style="width: 11%; text-align: right" title="Assets">26,882</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98F_eus-gaap--AvailableForSaleSecuritiesDebtSecuritiesCurrent_iI_pn3n3_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FinancialInstrumentAxis__us-gaap--CorporateDebtSecuritiesMember_zdile7DxeZB7" style="width: 11%; text-align: right" title="Assets">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98E_eus-gaap--AvailableForSaleSecuritiesDebtSecuritiesCurrent_iI_pn3n3_c20251231__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FinancialInstrumentAxis__us-gaap--CorporateDebtSecuritiesMember_zKNGq0wK12ei" style="width: 11%; text-align: right" title="Assets">26,882</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 10pt">U.S. Treasury securities</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_989_eus-gaap--AvailableForSaleSecuritiesDebtSecuritiesCurrent_iI_pn3n3_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FinancialInstrumentAxis__us-gaap--USTreasurySecuritiesMember_zQuD80cgXdRe" style="border-bottom: Black 1pt solid; text-align: right" title="Assets">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98C_eus-gaap--AvailableForSaleSecuritiesDebtSecuritiesCurrent_iI_pn3n3_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FinancialInstrumentAxis__us-gaap--USTreasurySecuritiesMember_zqdlbuswCnua" style="border-bottom: Black 1pt solid; text-align: right" title="Assets">15,589</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_983_eus-gaap--AvailableForSaleSecuritiesDebtSecuritiesCurrent_iI_pn3n3_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FinancialInstrumentAxis__us-gaap--USTreasurySecuritiesMember_zPGtKbOqoOh3" style="border-bottom: Black 1pt solid; text-align: right" title="Assets">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98F_eus-gaap--AvailableForSaleSecuritiesDebtSecuritiesCurrent_iI_pn3n3_c20251231__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FinancialInstrumentAxis__us-gaap--USTreasurySecuritiesMember_zw39eRcGF1gf" style="border-bottom: Black 1pt solid; text-align: right" title="Assets">15,589</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98C_eus-gaap--AvailableForSaleSecuritiesDebtSecuritiesCurrent_iI_pn3n3_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember_zRgDkCJroFoe" style="border-bottom: Black 2.5pt double; text-align: right" title="Investment securities, available-for-sale">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_985_eus-gaap--AvailableForSaleSecuritiesDebtSecuritiesCurrent_iI_pn3n3_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember_zmer7k84YoQ1" style="border-bottom: Black 2.5pt double; text-align: right" title="Investment securities, available-for-sale">42,471</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_982_eus-gaap--AvailableForSaleSecuritiesDebtSecuritiesCurrent_iI_pn3n3_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember_zHQPeTSpVxvj" style="border-bottom: Black 2.5pt double; text-align: right" title="Investment securities, available-for-sale">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_983_eus-gaap--AvailableForSaleSecuritiesDebtSecuritiesCurrent_iI_pn3n3_c20251231__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember_zBdJRrsLBkAj" style="border-bottom: Black 2.5pt double; text-align: right" title="Investment securities, available-for-sale">42,471</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Short-term investments are summarized below as of December 31, 2025 (in thousands). SCHEDULE OF UNREALIZED GAIN OR LOSS ON SHORT-TERM INVESTMENTS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 85%; margin-right: auto"> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Investment</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Cost/</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Gross</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Gross</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Securities,</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Amortized</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Unrealized</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Unrealized</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Available-</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Cost</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Gains</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Losses</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For-Sale</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">As of December 31, 2025</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; width: 40%; text-align: left">Corporate debt securities</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98E_eus-gaap--DebtSecuritiesAvailableForSaleAmortizedCostCurrent_iI_pn3n3_c20251231__us-gaap--FinancialInstrumentAxis__us-gaap--CorporateDebtSecuritiesMember_zTPWDgv4gab2" style="width: 11%; text-align: right" title="Debt Securities, Available-for-sale, Amortized Cost, Current">26,869</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right"><span id="xdx_908_eus-gaap--AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax_iI_pn3n3_c20251231__us-gaap--FinancialInstrumentAxis__us-gaap--CorporateDebtSecuritiesMember_zoh9UiCQrmGf" title="Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax">13</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98B_eus-gaap--AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax_iNI_pn3n3_di_c20251231__us-gaap--FinancialInstrumentAxis__us-gaap--CorporateDebtSecuritiesMember_zueuYU7DsaOf" style="width: 11%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98C_eus-gaap--AvailableForSaleSecuritiesDebtSecuritiesCurrent_iI_pn3n3_c20251231__us-gaap--FinancialInstrumentAxis__us-gaap--CorporateDebtSecuritiesMember_zU8nbKqkOeR7" style="width: 11%; text-align: right" title="Debt Securities, Available-for-sale, Current">26,882</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt">U.S. Treasury securities</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_984_eus-gaap--DebtSecuritiesAvailableForSaleAmortizedCostCurrent_iI_pn3n3_c20251231__us-gaap--FinancialInstrumentAxis__us-gaap--USTreasurySecuritiesMember_zo92UXuyUmS3" style="border-bottom: Black 1pt solid; text-align: right" title="Debt Securities, Available-for-sale, Amortized Cost, Current">15,577</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_90F_eus-gaap--AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax_iI_pn3n3_c20251231__us-gaap--FinancialInstrumentAxis__us-gaap--USTreasurySecuritiesMember_zwt139jZ26g6" title="Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax">12</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_986_eus-gaap--AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax_iNI_pn3n3_di_c20251231__us-gaap--FinancialInstrumentAxis__us-gaap--USTreasurySecuritiesMember_zNvte2yt1Zy1" style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_983_eus-gaap--AvailableForSaleSecuritiesDebtSecuritiesCurrent_iI_pn3n3_c20251231__us-gaap--FinancialInstrumentAxis__us-gaap--USTreasurySecuritiesMember_zgtf9L0oFVs9" style="border-bottom: Black 1pt solid; text-align: right" title="Debt Securities, Available-for-sale, Current">15,589</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98A_eus-gaap--DebtSecuritiesAvailableForSaleAmortizedCostCurrent_iI_pn3n3_c20251231_zBBXinYWPXp5" style="border-bottom: Black 2.5pt double; text-align: right" title="Cost Amortized Cost">42,446</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_90D_eus-gaap--AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax_iI_pn3n3_c20251231_zd6hYv8IckT3" title="Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax">25</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98A_eus-gaap--AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax_iNI_pn3n3_di_c20251231_z7oduCu2xQ42" style="border-bottom: Black 2.5pt double; text-align: right" title="Gross Unrealized Losses">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_982_eus-gaap--AvailableForSaleSecuritiesDebtSecuritiesCurrent_iI_pn3n3_c20251231_ziv6Kruk9ZV3" style="border-bottom: Black 2.5pt double; text-align: right" title="Investment Securities Available-For-Sale">42,471</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> The maturities of the investment securities, available-for-sale as of December 31, 2025 are shown below (in thousands): SCHEDULE OF MATURITY DATE OF AVAILABLE-FOR-SALE SECURITIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 85%; margin-right: auto"> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Gross</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Gross</td><td style="font-weight: bold"> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Amortized</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Unrealized</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Unrealized</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Estimated</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Cost</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Gains</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Losses</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Fair Value</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>As of December 31, 2025</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Maturity date</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; width: 40%; text-align: left; padding-bottom: 1pt">Less than one year</td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td id="xdx_980_eus-gaap--AvailableForSaleSecuritiesDebtMaturitiesNextRollingTwelveMonthsAmortizedCostBasis_iI_pn3n3_c20251231_zkcrN5ADOZE9" style="border-bottom: Black 1pt solid; width: 11%; text-align: right" title="Amortized Cost">42,446</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; width: 1%; text-align: left">$</td><td style="padding-bottom: 1pt; width: 11%; text-align: right">25</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; width: 1%; text-align: left">$</td><td id="xdx_987_eus-gaap--AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax_iNI_pn3n3_di_c20251231_zWbUt5l172N2" style="padding-bottom: 1pt; width: 11%; text-align: right" title="Gross Unrealized Losses">-</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td id="xdx_986_eus-gaap--AvailableForSaleSecuritiesDebtSecuritiesCurrent_iI_pn3n3_c20251231_zGDpulu9Dbv1" style="border-bottom: Black 1pt solid; width: 11%; text-align: right" title="Estimated Fair Value">42,471</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_985_eus-gaap--AvailableForSaleSecuritiesDebtMaturitiesSingleMaturityDateAmortizedCostBasis_iI_pn3n3_c20251231_zrQboTnCKR26" style="border-bottom: Black 2.5pt double; text-align: right" title="Amortized Cost">42,446</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt; text-align: right"> </td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt; text-align: right"> </td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98F_eus-gaap--AvailableForSaleSecuritiesDebtSecurities_iI_pn3n3_c20251231_z6WyhegHpt0j" style="border-bottom: Black 2.5pt double; text-align: right" title="Estimated Fair Value">42,471</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> The following table summarizes investments that have been in a continuous unrealized loss position for less than 12 months and those that have been in a continuous unrealized loss position for more than 12 months as of December 31, 2025 (in thousands): SCHEDULE OF UNREALIZED LOSS ON INVESTMENTS SECURITIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Less than Twelve Months</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Twelve Months or Greater</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Gross</td><td style="font-weight: bold"> </td><td> </td> <td colspan="2"> </td><td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Gross</td><td style="font-weight: bold"> </td><td> </td> <td colspan="2"> </td><td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Gross</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Fair</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Unrealized</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Fair</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Unrealized</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Fair</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Unrealized</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Value</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Losses</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Value</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Losses</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Value</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Losses</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">As of December 31, 2025</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; width: 40%; text-align: left">Corporate debt securities</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_983_eus-gaap--DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months_iI_pn3n3_c20251231__us-gaap--InvestmentTypeAxis__us-gaap--CorporateDebtSecuritiesMember_zUfToIIQ8NJ2" style="width: 6%; text-align: right" title="Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, Less than 12 Months">1,042</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 6%; text-align: right"><span id="xdx_900_eus-gaap--DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss_iNI_pn3n3_di_c20251231__us-gaap--InvestmentTypeAxis__us-gaap--CorporateDebtSecuritiesMember_zphdCpkHA5K7">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_984_eus-gaap--DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger_iI_pn3n3_c20251231__us-gaap--InvestmentTypeAxis__us-gaap--CorporateDebtSecuritiesMember_z1QvPsM7qwb5" style="width: 6%; text-align: right" title="Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, 12 Months or Longer">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_984_eus-gaap--DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss_iI_pn3n3_c20251231__us-gaap--InvestmentTypeAxis__us-gaap--CorporateDebtSecuritiesMember_zI2V1O06RNVd" style="width: 6%; text-align: right" title="Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_986_eus-gaap--DebtSecuritiesAvailableForSaleUnrealizedLossPosition_iI_pn3n3_c20251231__us-gaap--InvestmentTypeAxis__us-gaap--CorporateDebtSecuritiesMember_zzl05lu0YIw9" style="width: 6%; text-align: right" title="Available-for-Sale Securities, Continuous Unrealized Loss Position, Fair Value">1,042</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 6%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_985_eus-gaap--DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months_iI_pn3n3_c20251231_zZKcN0NEvQHg" style="border-bottom: Black 2.5pt double; text-align: right" title="Less than Twelve Months, Fair Value">1,042</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98D_eus-gaap--DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss_iNI_pn3n3_di_c20251231_zt5DFOB3c7t" style="border-bottom: Black 2.5pt double; text-align: right" title="Less than Twelve Months, Gross Unrealized Losses">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98C_eus-gaap--DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger_iI_pn3n3_c20251231_z0XKLGXwJdY3" style="border-bottom: Black 2.5pt double; text-align: right" title="Twelve Months or Greater, Fair Value">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_988_eus-gaap--DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss_iI_pn3n3_c20251231_zQScqx0INNHe" style="border-bottom: Black 2.5pt double; text-align: right" title="Twelve Months or Greater, Gross Unrealized Losses">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98A_eus-gaap--DebtSecuritiesAvailableForSaleUnrealizedLossPosition_iI_pn3n3_c20251231_zZs2WNaVYmT8" style="border-bottom: Black 2.5pt double; text-align: right" title="Total, Fair Value">1,042</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98C_eus-gaap--DebtSecuritiesAvailableForSaleUnrealizedLossPositionAccumulatedLoss_iNI_pn3n3_di_c20251231_z7cHUk0Lclz5" style="border-bottom: Black 2.5pt double; text-align: right" title="Total, Gross Unrealized Losses">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

<p id="xdx_898_eus-gaap--FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTableTextBlock_zcvhk6LClSDi" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">The valuation inputs hierarchy classification for assets measured at fair value on a recurring basis are summarized below as of December 31, 2025 (in thousands). The table does not include cash held in money market savings accounts. SCHEDULE OF FAIR VALUE HIERARCHY ASSETS AND LIABILITIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 85%; margin-right: auto"> <tr style="vertical-align: bottom"> <td style="font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 1</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 2</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 3</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">As of December 31, 2025</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; text-align: left; padding-left: 10pt">Corporate debt securities</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_989_eus-gaap--AvailableForSaleSecuritiesDebtSecuritiesCurrent_iI_pn3n3_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FinancialInstrumentAxis__us-gaap--CorporateDebtSecuritiesMember_zLOqpe5HYjy" style="width: 11%; text-align: right" title="Assets">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98B_eus-gaap--AvailableForSaleSecuritiesDebtSecuritiesCurrent_iI_pn3n3_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FinancialInstrumentAxis__us-gaap--CorporateDebtSecuritiesMember_zMHDdHGyxxx4" style="width: 11%; text-align: right" title="Assets">26,882</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98F_eus-gaap--AvailableForSaleSecuritiesDebtSecuritiesCurrent_iI_pn3n3_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FinancialInstrumentAxis__us-gaap--CorporateDebtSecuritiesMember_zdile7DxeZB7" style="width: 11%; text-align: right" title="Assets">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98E_eus-gaap--AvailableForSaleSecuritiesDebtSecuritiesCurrent_iI_pn3n3_c20251231__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FinancialInstrumentAxis__us-gaap--CorporateDebtSecuritiesMember_zKNGq0wK12ei" style="width: 11%; text-align: right" title="Assets">26,882</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 10pt">U.S. Treasury securities</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_989_eus-gaap--AvailableForSaleSecuritiesDebtSecuritiesCurrent_iI_pn3n3_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FinancialInstrumentAxis__us-gaap--USTreasurySecuritiesMember_zQuD80cgXdRe" style="border-bottom: Black 1pt solid; text-align: right" title="Assets">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98C_eus-gaap--AvailableForSaleSecuritiesDebtSecuritiesCurrent_iI_pn3n3_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FinancialInstrumentAxis__us-gaap--USTreasurySecuritiesMember_zqdlbuswCnua" style="border-bottom: Black 1pt solid; text-align: right" title="Assets">15,589</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_983_eus-gaap--AvailableForSaleSecuritiesDebtSecuritiesCurrent_iI_pn3n3_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FinancialInstrumentAxis__us-gaap--USTreasurySecuritiesMember_zPGtKbOqoOh3" style="border-bottom: Black 1pt solid; text-align: right" title="Assets">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98F_eus-gaap--AvailableForSaleSecuritiesDebtSecuritiesCurrent_iI_pn3n3_c20251231__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember__us-gaap--FinancialInstrumentAxis__us-gaap--USTreasurySecuritiesMember_zw39eRcGF1gf" style="border-bottom: Black 1pt solid; text-align: right" title="Assets">15,589</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98C_eus-gaap--AvailableForSaleSecuritiesDebtSecuritiesCurrent_iI_pn3n3_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember_zRgDkCJroFoe" style="border-bottom: Black 2.5pt double; text-align: right" title="Investment securities, available-for-sale">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_985_eus-gaap--AvailableForSaleSecuritiesDebtSecuritiesCurrent_iI_pn3n3_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember_zmer7k84YoQ1" style="border-bottom: Black 2.5pt double; text-align: right" title="Investment securities, available-for-sale">42,471</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_982_eus-gaap--AvailableForSaleSecuritiesDebtSecuritiesCurrent_iI_pn3n3_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember_zHQPeTSpVxvj" style="border-bottom: Black 2.5pt double; text-align: right" title="Investment securities, available-for-sale">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_983_eus-gaap--AvailableForSaleSecuritiesDebtSecuritiesCurrent_iI_pn3n3_c20251231__us-gaap--FairValueByMeasurementFrequencyAxis__us-gaap--FairValueMeasurementsRecurringMember_zBdJRrsLBkAj" style="border-bottom: Black 2.5pt double; text-align: right" title="Investment securities, available-for-sale">42,471</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

26882000

15589000

42471000

Short-term investments are summarized below as of December 31, 2025 (in thousands). SCHEDULE OF UNREALIZED GAIN OR LOSS ON SHORT-TERM INVESTMENTS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 85%; margin-right: auto"> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Investment</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Cost/</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Gross</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Gross</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Securities,</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Amortized</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Unrealized</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Unrealized</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Available-</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Cost</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Gains</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Losses</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For-Sale</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">As of December 31, 2025</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; width: 40%; text-align: left">Corporate debt securities</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98E_eus-gaap--DebtSecuritiesAvailableForSaleAmortizedCostCurrent_iI_pn3n3_c20251231__us-gaap--FinancialInstrumentAxis__us-gaap--CorporateDebtSecuritiesMember_zTPWDgv4gab2" style="width: 11%; text-align: right" title="Debt Securities, Available-for-sale, Amortized Cost, Current">26,869</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right"><span id="xdx_908_eus-gaap--AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax_iI_pn3n3_c20251231__us-gaap--FinancialInstrumentAxis__us-gaap--CorporateDebtSecuritiesMember_zoh9UiCQrmGf" title="Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax">13</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98B_eus-gaap--AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax_iNI_pn3n3_di_c20251231__us-gaap--FinancialInstrumentAxis__us-gaap--CorporateDebtSecuritiesMember_zueuYU7DsaOf" style="width: 11%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98C_eus-gaap--AvailableForSaleSecuritiesDebtSecuritiesCurrent_iI_pn3n3_c20251231__us-gaap--FinancialInstrumentAxis__us-gaap--CorporateDebtSecuritiesMember_zU8nbKqkOeR7" style="width: 11%; text-align: right" title="Debt Securities, Available-for-sale, Current">26,882</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt">U.S. Treasury securities</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_984_eus-gaap--DebtSecuritiesAvailableForSaleAmortizedCostCurrent_iI_pn3n3_c20251231__us-gaap--FinancialInstrumentAxis__us-gaap--USTreasurySecuritiesMember_zo92UXuyUmS3" style="border-bottom: Black 1pt solid; text-align: right" title="Debt Securities, Available-for-sale, Amortized Cost, Current">15,577</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_90F_eus-gaap--AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax_iI_pn3n3_c20251231__us-gaap--FinancialInstrumentAxis__us-gaap--USTreasurySecuritiesMember_zwt139jZ26g6" title="Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax">12</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_986_eus-gaap--AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax_iNI_pn3n3_di_c20251231__us-gaap--FinancialInstrumentAxis__us-gaap--USTreasurySecuritiesMember_zNvte2yt1Zy1" style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_983_eus-gaap--AvailableForSaleSecuritiesDebtSecuritiesCurrent_iI_pn3n3_c20251231__us-gaap--FinancialInstrumentAxis__us-gaap--USTreasurySecuritiesMember_zgtf9L0oFVs9" style="border-bottom: Black 1pt solid; text-align: right" title="Debt Securities, Available-for-sale, Current">15,589</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98A_eus-gaap--DebtSecuritiesAvailableForSaleAmortizedCostCurrent_iI_pn3n3_c20251231_zBBXinYWPXp5" style="border-bottom: Black 2.5pt double; text-align: right" title="Cost Amortized Cost">42,446</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_90D_eus-gaap--AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax_iI_pn3n3_c20251231_zd6hYv8IckT3" title="Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax">25</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98A_eus-gaap--AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax_iNI_pn3n3_di_c20251231_z7oduCu2xQ42" style="border-bottom: Black 2.5pt double; text-align: right" title="Gross Unrealized Losses">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_982_eus-gaap--AvailableForSaleSecuritiesDebtSecuritiesCurrent_iI_pn3n3_c20251231_ziv6Kruk9ZV3" style="border-bottom: Black 2.5pt double; text-align: right" title="Investment Securities Available-For-Sale">42,471</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

26869000

13000

26882000

15577000

12000

15589000

42446000

25000

42471000

The maturities of the investment securities, available-for-sale as of December 31, 2025 are shown below (in thousands): SCHEDULE OF MATURITY DATE OF AVAILABLE-FOR-SALE SECURITIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 85%; margin-right: auto"> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Gross</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Gross</td><td style="font-weight: bold"> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Amortized</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Unrealized</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Unrealized</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Estimated</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Cost</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Gains</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Losses</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Fair Value</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>As of December 31, 2025</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Maturity date</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; width: 40%; text-align: left; padding-bottom: 1pt">Less than one year</td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td id="xdx_980_eus-gaap--AvailableForSaleSecuritiesDebtMaturitiesNextRollingTwelveMonthsAmortizedCostBasis_iI_pn3n3_c20251231_zkcrN5ADOZE9" style="border-bottom: Black 1pt solid; width: 11%; text-align: right" title="Amortized Cost">42,446</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; width: 1%; text-align: left">$</td><td style="padding-bottom: 1pt; width: 11%; text-align: right">25</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; width: 1%; text-align: left">$</td><td id="xdx_987_eus-gaap--AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax_iNI_pn3n3_di_c20251231_zWbUt5l172N2" style="padding-bottom: 1pt; width: 11%; text-align: right" title="Gross Unrealized Losses">-</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td id="xdx_986_eus-gaap--AvailableForSaleSecuritiesDebtSecuritiesCurrent_iI_pn3n3_c20251231_zGDpulu9Dbv1" style="border-bottom: Black 1pt solid; width: 11%; text-align: right" title="Estimated Fair Value">42,471</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_985_eus-gaap--AvailableForSaleSecuritiesDebtMaturitiesSingleMaturityDateAmortizedCostBasis_iI_pn3n3_c20251231_zrQboTnCKR26" style="border-bottom: Black 2.5pt double; text-align: right" title="Amortized Cost">42,446</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt; text-align: right"> </td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt; text-align: right"> </td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98F_eus-gaap--AvailableForSaleSecuritiesDebtSecurities_iI_pn3n3_c20251231_z6WyhegHpt0j" style="border-bottom: Black 2.5pt double; text-align: right" title="Estimated Fair Value">42,471</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

42446000

25000

42471000

42446000

42471000

The following table summarizes investments that have been in a continuous unrealized loss position for less than 12 months and those that have been in a continuous unrealized loss position for more than 12 months as of December 31, 2025 (in thousands): SCHEDULE OF UNREALIZED LOSS ON INVESTMENTS SECURITIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Less than Twelve Months</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Twelve Months or Greater</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Total</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Gross</td><td style="font-weight: bold"> </td><td> </td> <td colspan="2"> </td><td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Gross</td><td style="font-weight: bold"> </td><td> </td> <td colspan="2"> </td><td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Gross</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Fair</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Unrealized</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Fair</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Unrealized</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Fair</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Unrealized</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Value</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Losses</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Value</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Losses</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Value</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Losses</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">As of December 31, 2025</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; width: 40%; text-align: left">Corporate debt securities</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_983_eus-gaap--DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months_iI_pn3n3_c20251231__us-gaap--InvestmentTypeAxis__us-gaap--CorporateDebtSecuritiesMember_zUfToIIQ8NJ2" style="width: 6%; text-align: right" title="Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, Less than 12 Months">1,042</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 6%; text-align: right"><span id="xdx_900_eus-gaap--DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss_iNI_pn3n3_di_c20251231__us-gaap--InvestmentTypeAxis__us-gaap--CorporateDebtSecuritiesMember_zphdCpkHA5K7">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_984_eus-gaap--DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger_iI_pn3n3_c20251231__us-gaap--InvestmentTypeAxis__us-gaap--CorporateDebtSecuritiesMember_z1QvPsM7qwb5" style="width: 6%; text-align: right" title="Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, 12 Months or Longer">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_984_eus-gaap--DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss_iI_pn3n3_c20251231__us-gaap--InvestmentTypeAxis__us-gaap--CorporateDebtSecuritiesMember_zI2V1O06RNVd" style="width: 6%; text-align: right" title="Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_986_eus-gaap--DebtSecuritiesAvailableForSaleUnrealizedLossPosition_iI_pn3n3_c20251231__us-gaap--InvestmentTypeAxis__us-gaap--CorporateDebtSecuritiesMember_zzl05lu0YIw9" style="width: 6%; text-align: right" title="Available-for-Sale Securities, Continuous Unrealized Loss Position, Fair Value">1,042</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 6%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_985_eus-gaap--DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months_iI_pn3n3_c20251231_zZKcN0NEvQHg" style="border-bottom: Black 2.5pt double; text-align: right" title="Less than Twelve Months, Fair Value">1,042</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98D_eus-gaap--DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss_iNI_pn3n3_di_c20251231_zt5DFOB3c7t" style="border-bottom: Black 2.5pt double; text-align: right" title="Less than Twelve Months, Gross Unrealized Losses">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98C_eus-gaap--DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger_iI_pn3n3_c20251231_z0XKLGXwJdY3" style="border-bottom: Black 2.5pt double; text-align: right" title="Twelve Months or Greater, Fair Value">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_988_eus-gaap--DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss_iI_pn3n3_c20251231_zQScqx0INNHe" style="border-bottom: Black 2.5pt double; text-align: right" title="Twelve Months or Greater, Gross Unrealized Losses">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98A_eus-gaap--DebtSecuritiesAvailableForSaleUnrealizedLossPosition_iI_pn3n3_c20251231_zZs2WNaVYmT8" style="border-bottom: Black 2.5pt double; text-align: right" title="Total, Fair Value">1,042</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98C_eus-gaap--DebtSecuritiesAvailableForSaleUnrealizedLossPositionAccumulatedLoss_iNI_pn3n3_di_c20251231_z7cHUk0Lclz5" style="border-bottom: Black 2.5pt double; text-align: right" title="Total, Gross Unrealized Losses">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

1042000

7. NOTES PAYABLE AND DERIVATIVE LIABILITY Background On October 14, 2024, the Company entered into a Securities Purchase Agreement (the “Purchase Agreement”) for the purchase of senior secured convertible notes (the “Note” or the “Prior Note”) with an institutional investor (the “Holder”). The principal amount for the initial note is $45.0 million (the “Initial Principal Amount”) of convertible notes to the Holder, subject to certain limitations. On October 23, 2024, the Purchase Agreement closed and the Note was issued for net proceeds of approximately $<span id="xdx_907_eus-gaap--ProceedsFromDebtNetOfIssuanceCosts_pn5n6_c20241023__20241023__us-gaap--TypeOfArrangementAxis__custom--PurchaseAgreementMember_zxaWljGfDjS2" title="Proceeds from debt, net of issuance costs">38.1 million, inclusive of all discounts, fees, and expenses related to the transaction. On February 3, 2025, the Company entered into a Letter Agreement with the Holder related to the Note. As a result of the Letter Agreement, the Holder elected to early convert $8.8 million of outstanding principal into <span id="xdx_905_eus-gaap--DebtConversionConvertedInstrumentSharesIssued1_c20250203__20250203__us-gaap--TypeOfArrangementAxis__custom--LetterAgreementMember_zsaEJB8A4xMh" title="Share issued upon debt conversion">11,725,337 shares of the Company’s common stock. Additionally, as a result of the Letter Agreement, the Holder agreed to defer $11.6 million of principal repayments to seven monthly payments of $1.7 million beginning on September 1, 2025 and concluding on March 1, 2026. The Letter Agreement represented a modification requiring extinguishment accounting in accordance with Accounting Standards Codification (“ASC”) 470, Debt. As a result of the modification, a realized loss on debt modification of $<span id="xdx_907_eus-gaap--GainsLossesOnExtinguishmentOfDebt_pn5n6_c20250101__20250331__us-gaap--TypeOfArrangementAxis__custom--LetterAgreementMember_z5g4NKpPsJhc" title="Realized loss on debt modification">4.7 million and interest expense of $2.1 million were recorded on the condensed consolidated statement of operations during the three months ended March 31, 2025. On February 23, 2026, the Company entered into a Securities Purchase and Exchange Agreement (the “2026 Purchase Agreement”) with the same investor, pursuant to which the Company issued two senior secured convertible notes – one for approximately $<span id="xdx_901_eus-gaap--SeniorLongTermNotes_iI_pn5n6_c20260223__us-gaap--DebtInstrumentAxis__custom--SeniorSecuredConvertibleNotesDueMarchTwoThousandTwentyEightMember_zeBmK2vRw4Td" title="Senior secured convertible notes">20.6 million in exchange for the previously existing Note due March 2026 and the other for approximately $<span id="xdx_90A_eus-gaap--SeniorLongTermNotes_iI_pn5n6_c20260223__us-gaap--DebtInstrumentAxis__custom--SeniorSecuredConvertibleNotesDueMarchTwoThousandTwentySixMember_z8gXHzYN8c8k" title="Senior secured convertible notes">22.4 million (combined, the “2026 Convertible Notes”). Net cash proceeds from the issuance were approximately $20.6 million, inclusive of initial discounts, fees, and expenses related to the transaction. The exchange of the Prior Note qualifies for extinguishment accounting in accordance with ASC 470. As a result of the exchange, a realized loss on debt extinguishment of $3.1 million was recorded on the condensed consolidated statement of operations during the three months ended March 31, 2026. The 2026 Convertible Notes will rank senior to all outstanding and future indebtedness of the Company. Immediately upon closing and monthly beginning on April 1, 2026, the Holder may elect to require the Company to partially redeem the Notes. The Company has the right to optionally convert any partial redemption of the Notes to shares of the Company’s common stock, subject to certain conditions. If conversion is elected by the Company, the partial repayment amount is the greater of $3.0 million monthly, plus a 10% premium, or 110% of 7% of the aggregate daily volume of common stock for all volume-weighted average price (“VWAP”) trading days over a specified period. If cash settlement is elected by the Company, the partial repayment amount is $3.0 million monthly, plus a 10% premium. The end of term maturity balance is the outstanding principal balance of the Notes multiplied by 110% and matures on March 1, 2028. The Notes bear zero coupon. On March 16, 2026, pursuant to terms of the Notes, the Holder elected to convert $0.5 million of outstanding principal, inclusive of the 10% repayment premium, into 984,292 shares of the Company’s common stock. On March 20, 2026, the Holder elected to convert $6.7 million of outstanding principal, inclusive of the 10% repayment premium, into 13,342,613 shares of the Company’s common stock. As of March 31, 2026, there was $40.1 million outstanding principal, inclusive of the 10% repayment premium, on the Notes. Subsequent to the date of these financial statements, on April 20, 2026, the Holder elected to convert $2.8 million of outstanding principal, inclusive of the <span id="xdx_903_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20260420__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zXWfgMINrUBc" title="Repayment premium percentage">10% repayment premium, into 4,857,985 shares of the Company’s common stock. Additionally, on May 5, 2026, the Holder elected to convert $2.6 million of outstanding principal, inclusive of the <span id="xdx_904_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20260505__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_z6ylau8Yirp8" title="Repayment premium percentage">10% repayment premium, into 4,423,468 shares of the Company’s common stock. On May 5, 2026, immediately after this conversion, outstanding principal on the Notes was $34.7 million, inclusive of the <span id="xdx_907_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_dp_uPure_c20260505__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_znSfVVWtww83" title="Repayment premium percentage">10% repayment premium. Components The Notes are convertible debt instruments with multiple redemption, conversion, and put features. Certain features qualify as embedded derivatives requiring bifurcation. Therefore, the bifurcated features are accounted for separately as compound embedded derivatives in accordance with ASC 815, Derivatives and Hedging, and are included in derivative liability on the condensed consolidated balance sheets. The host contracts, which represent the Notes excluding the derivative liability, are accounted for as non-convertible debt under ASC 470 and are included in notes payable, current on the condensed consolidated balance sheets. Notes Payable The host contracts are recorded at the total aggregate amount repayable at maturity of $40.1 million as of March 31, 2026, less any unamortized debt discount and debt issuance costs. The debt discount is equal to the amount repayable at maturity, net of the initial fair value of the bifurcated derivative liability. Debt issuance costs are comprised of qualifying expenses resulting directly from the transaction. Supplemental balance sheet information is as follows: SCHEDULE OF SUPPLEMENTAL BALANCE SHEET INFORMATION <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 70%; margin-right: auto"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_493_20260331_z5Vb9m132JFc" style="font-weight: bold; text-align: center">March 31,</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_493_20251231_z5iIryCAKf42" style="font-weight: bold; text-align: center">December 31,</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; font-style: italic">(in thousands)</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_401_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_maLTDzJiM_zxPTA9SMojgd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Amount repayable at maturity</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">40,095</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">19,525</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--DebtInstrumentUnamortizedDiscount_iNI_pn3n3_di_msLTDzJiM_zorpU1KRZa5a" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Unamortized debt discount</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(7,462</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(313</td><td style="text-align: left">)</td></tr> <tr id="xdx_40A_eus-gaap--DeferredFinanceCostsCurrentGross_iNI_pn3n3_di_msLTDzJiM_zUbNOxT2OsCb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Unamortized issuance costs</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(492</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--LongTermDebt_iTI_pn3n3_mtLTDzJiM_zEwCcJcNOIHg" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Net carrying amount</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">32,141</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">19,212</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Interest expense related to the amortization of the debt discount and issuance costs was $2.7 million and $3.5 million for the three months ended March 31, 2026 and 2025, respectively. Total interest expense of $2.8 million and $12.9 million for the three months ended March 31, 2026 and 2025, respectively is comprised of the following components: SCHEDULE OF COMPONENTS INTEREST EXPENSE <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 70%; margin-right: auto"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_49C_20260101__20260331_z7ZBVnyT1p3i" style="font-weight: bold; text-align: center">March 31,</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_49E_20250101__20250331_zMCRAFj5lJW7" style="font-weight: bold; text-align: center">March 31,</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; font-style: italic">(in thousands)</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_401_eus-gaap--AmortizationOfFinancingCosts_pn3n3_maIENzBJS_zYTrU5tDhykc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Amortization of debt discount and issuance costs</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">2,743</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">3,502</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--InterestExpenseBorrowings_pn3n3_maIENzBJS_z405SaF3Wyic" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Interest expense from modification of notes payable</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,057</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_ecustom--NonCashInterestExpense_pn3n3_maIENzBJS_zhV3aC66wV35" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Discount on warrants (see Note 8. Warrant Liability)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,325</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--InterestExpenseOther_pn3n3_maIENzBJS_zQEBvRJEtgIg" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Other</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">10</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">19</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--InterestExpenseNonoperating_iT_pn3n3_mtIENzBJS_zFBNIDAphrEk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Total interest expense</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">2,753</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">12,903</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> The monthly effective interest rate implicit in the Notes as of March 31, 2026 under the interest method was 6.3%. Maturities of partial repayments, if elected by the Holder, are as follows: SCHEDULE OF MATURITIES LONG TERM DEBT <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 50%; margin-right: auto"> <tr style="vertical-align: bottom"> <td style="font-style: italic"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_49D_20260331_zSHcQga4fflg" style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; font-weight: normal; font-style: italic">(in thousands)</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Maturities</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Years Ended December 31,</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear_iI_pn3n3_maNPz3tS_zsVC1W1HH2k6" style="vertical-align: bottom; background-color: White"> <td style="width: 80%">2026 (remainder)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">31,629</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths_iI_pn3n3_maNPz3tS_z3h3gXTZBRlc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">2027</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">8,466</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--NotesPayable_iTI_pn3n3_mtNPz3tS_zXbWLYExO27f" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total partial repayments</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">40,095</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Derivative Liability The derivative liability was initially recorded at its fair value of $6.3 million as of the issuance date of February 23, 2026. The derivative liability is subsequently remeasured and reported at fair value each reporting period, with the changes in fair value recorded as an unrealized gain or loss and recognized in earnings. The fair value of derivatives not designated as hedging instruments are as follows: SCHEDULE OF FAIR VALUE OF DERIVATIVES NOT DESIGNATED AS HEDGING INSTRUMENTS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 65%; margin-right: auto"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_49A_20260331_zniuZQT34l52" style="font-weight: bold; text-align: center">March 31,</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_496_20251231_zQMVDy3iheP" style="font-weight: bold; text-align: center">December 31,</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; font-style: italic">(in thousands)</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_406_eus-gaap--DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsAssetAtFairValue_iI_pn3n3_zQc3Nb0O35n" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left; padding-bottom: 1pt">Derivative liability</td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 14%; text-align: right">2,035</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 14%; text-align: right"> -</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--DerivativeLiabilitiesCurrent_iTI_pn3n3_zTHTDLe9z3Mb" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">2,035</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_898_eus-gaap--ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock_zuioRk8UrcI1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">Unrealized gains and losses associated with derivatives not designated as hedging instruments are as follows: SCHEDULE OF UNREALIZED GAIN AND LOSS INSTRUMENTS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 65%; margin-right: auto"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_499_20260101__20260331_zwRyubzKYdbf" style="font-weight: bold; text-align: center">March 31,</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_494_20250101__20250331_zxRu4QnmAshh" style="font-weight: bold; text-align: center">March 31,</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; font-style: italic">(in thousands)</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_409_eus-gaap--UnrealizedGainLossOnDerivatives_pn3n3_zYmzndGT3DAk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left; padding-bottom: 1pt">Unrealized gain on derivative liability</td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 14%; text-align: right">3,380</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 14%; text-align: right">842</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--UnrealizedGainLossOnDerivatives_iT_pn3n3_zKIiXTQCSIU4" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">3,380</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">842</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Fair Value Measurements The fair value of the derivative liability is determined utilizing a “with and without” method, in which the fair value is calculated as the difference in the fair value of the entire hybrid instrument and the fair value of the instrument excluding the bifurcated derivative features. The valuation inputs hierarchy classification for liabilities measured at fair value on a recurring basis are summarized below as of March 31, 2026 and December 31, 2025 (in thousands). See Note 6. Investment Securities, Available-For-Sale and Fair Value Measurements, for discussion of the fair value level hierarchy. SCHEDULE OF LIABILITIES MEASURED AT FAIR VALUE ON A RECURRING BASIS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; font-weight: bold">As of March 31, 2026</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_490_20260331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_z2c3by1CirX1" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 1</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20260331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zLyoxAZx1YZ6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 2</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20260331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zxL3KHRlTbAk" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 3</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_403_eus-gaap--DerivativeInstrumentsInHedgesAtFairValueNet_iI_pn3n3_zjb4RfCmmm9c" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 52%; text-align: left; padding-bottom: 1pt">Derivative liability</td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 12%; text-align: right">-</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 12%; text-align: right">-</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 12%; text-align: right">2,035</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--DerivativeLiabilities_iI_pn3n3_zW3natmGkAH2" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">2,035</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; font-weight: bold">As of December 31, 2025</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_493_20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zusV41W3ZTGj" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 1</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zHjIWNBRCgD8" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 2</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zQrO0Pw9Fxbe" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 3</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_406_eus-gaap--DerivativeInstrumentsInHedgesAtFairValueNet_iI_pn3n3_zW6bSxnJNvwb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 52%; text-align: left; padding-bottom: 1pt">Derivative liability</td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 12%; text-align: right">-</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 12%; text-align: right">-</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 12%; text-align: right">-</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--DerivativeLiabilities_iI_pn3n3_z7hXyYR0viOj" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Activity related to the derivative liability during the three months ended March 31, 2026 is as follows: SCHEDULE OF ACTIVITY RELATED TO DERIVATIVE LIABILITIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_498_20260101__20260331_zg3RqW86T2U1" style="font-weight: bold; text-align: center">March 31,</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40E_eus-gaap--DerivativeLiabilities_iS_zmUz8hwFjHEd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Beginning balance</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_ecustom--InitialValuationOfConvertibleNotes_zyDqkOB5BWYf" style="vertical-align: bottom; background-color: White"> <td style="width: 80%; text-align: left">Initial valuation associated with new debt</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">6,315</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_402_ecustom--FairValueAssociatedWithConversionsOfDerivative_zlNLG1M8PUZ" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Fair value associated with conversions during the period</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(900</td><td style="text-align: left">)</td></tr> <tr id="xdx_402_ecustom--ReclassificationOfDerivativeOnDebtModification_zn6d2ec2fcU8" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Reclassification of derivative on debt modification</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_ecustom--ExtinguishmentOfDerivativeLiabilityOnDebtModification_z6gmoD7sVWR2" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Extinguishment of derivative liability on debt modification</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--DerivativeGainLossOnDerivativeNet_iN_di_zZ1OKI6kcPZ8" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Change in fair value during the period</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(3,380</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_408_eus-gaap--DerivativeLiabilities_iE_zvKz1RA7aQv5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Ending balance</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">2,035</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Activity related to the derivative liability during the three months ended March 31, 2025 is as follows: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_49F_20250101__20250331_zyGz9a320DGa" style="font-weight: bold; text-align: center">March 31,</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40E_eus-gaap--DerivativeLiabilities_iS_zl0yM7QNL9vh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%; text-align: left">Beginning balance</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">14,581</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_402_ecustom--FairValueAssociatedWithConversionsOfDerivative_zSUdndKxD5B2" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Fair value associated with conversions during the period</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,701</td><td style="text-align: left">)</td></tr> <tr id="xdx_409_ecustom--ReclassificationOfDerivativeOnDebtModification_zhQZw7r0KdJa" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Reclassification of derivative on debt modification</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(186</td><td style="text-align: left">)</td></tr> <tr id="xdx_40C_ecustom--ExtinguishmentOfDerivativeLiabilityOnDebtModification_zgKVOuPuoXhd" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Extinguishment of derivative liability on debt modification</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(14,199</td><td style="text-align: left">)</td></tr> <tr id="xdx_406_ecustom--InitialValuationOfConvertibleNotes_zfySP1uT8Iy1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Initial valuation associated with new debt</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,214</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--DerivativeGainLossOnDerivativeNet_iN_di_zA529enssoW5" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Change in fair value during the period</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(842</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_408_eus-gaap--DerivativeLiabilities_iE_z3Fwg2ZTxChk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Ending balance</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">4,867</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_890_eus-gaap--FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTableTextBlock_zxN5xCh9zfx5" style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0pt 0pt 0">The table below lists the inputs and assumptions for the Company’s valuations of the 2026 Convertible Notes as of March 31, 2026 and February 23, 2026 and of the Prior Note as of December 31, 2025: SCHEDULE OF REVALUATION DERIVATIVE LIABILITY <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="vertical-align: bottom"> <td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">March 31,</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="text-align: center">February 23,</td> <td> </td> <td> </td> <td colspan="2" style="font-weight: bold; text-align: center">December 31,</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2026</td> <td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 52%; text-align: left">Expected term (years)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right">1.9</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="text-align: right; width: 1%"> </td> <td style="text-align: right; width: 12%">2.0</td> <td style="width: 1%"> </td> <td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right">0.8</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Risk-free interest rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90E_eus-gaap--DerivativeLiabilityMeasurementInput_iI_pid_uPure_c20260331__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember_zK7qxcJEQB82" title="Derivative liability rate">3.75</td><td style="text-align: left">%</td><td> </td> <td style="text-align: right"> </td> <td style="text-align: right"><span id="xdx_902_eus-gaap--DerivativeLiabilityMeasurementInput_iI_pid_uPure_c20260223__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember_zQBKZRgNCdbk" title="Derivative liability rate">3.40</td> <td>%</td> <td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_904_eus-gaap--DerivativeLiabilityMeasurementInput_iI_pid_uPure_c20251231__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember_zRq12Ftou2Mg" title="Derivative liability rate">3.50</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Dividend yield</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90F_eus-gaap--DerivativeLiabilityMeasurementInput_iI_pid_uPure_c20260331__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedDividendRateMember_zu9e6rMBB541" title="Derivative liability rate">0</td><td style="text-align: left">%</td><td> </td> <td style="text-align: right"> </td> <td style="text-align: right"><span id="xdx_900_eus-gaap--DerivativeLiabilityMeasurementInput_iI_pid_uPure_c20260223__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedDividendRateMember_zrtsLbgmDvSa" title="Derivative liability rate">0</td> <td>%</td> <td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90B_eus-gaap--DerivativeLiabilityMeasurementInput_iI_pid_uPure_c20251231__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedDividendRateMember_z6sAS2fpQclf" title="Derivative liability rate">0</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Volatility</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_908_eus-gaap--DerivativeLiabilityMeasurementInput_iI_pid_uPure_c20260331__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputOptionVolatilityMember_zEeuUuta5bD" title="Derivative liability rate">60.20</td><td style="text-align: left">%</td><td> </td> <td style="text-align: right"> </td> <td style="text-align: right"><span id="xdx_908_eus-gaap--DerivativeLiabilityMeasurementInput_iI_pid_uPure_c20260223__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputOptionVolatilityMember_z40ZjFUurGt4" title="Derivative liability rate">55.93</td> <td>%</td> <td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_901_eus-gaap--DerivativeLiabilityMeasurementInput_iI_pid_uPure_c20251231__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputOptionVolatilityMember_zFHPuXU7ljrg" title="Derivative liability rate">67.16</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Discount rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90A_eus-gaap--DerivativeLiabilityMeasurementInput_iI_pid_uPure_c20260331__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputDiscountRateMember_zfK7NKmk7Pzj" title="Derivative liability, measurement input">58.8</td><td style="text-align: left">%</td><td> </td> <td style="text-align: right"> </td> <td style="text-align: right"><span id="xdx_90F_eus-gaap--DerivativeLiabilityMeasurementInput_iI_pid_uPure_c20260223__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputDiscountRateMember_zdrcv2rzsWD7" title="Derivative liability, measurement input">58.4</td> <td>%</td> <td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_903_eus-gaap--DerivativeLiabilityMeasurementInput_iI_pid_uPure_c20251231__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputDiscountRateMember_zFZ6Hutxv3jg" title="Derivative liability, measurement input">50.0</td><td style="text-align: left">%</td></tr> </table>

45000000.0

38100000

8800000

11725337

11600000

seven monthly payments

1700000

2025-09-01

4700000

2100000

20600000

22400000

20600000

3100000

If conversion is elected by the Company, the partial repayment amount is the greater of $3.0 million monthly, plus a 10% premium, or 110% of 7% of the aggregate daily volume of common stock for all volume-weighted average price (“VWAP”) trading days over a specified period.

If cash settlement is elected by the Company, the partial repayment amount is $3.0 million monthly, plus a 10% premium. The end of term maturity balance is the outstanding principal balance of the Notes multiplied by 110% and matures on March 1, 2028. The Notes bear zero coupon.

500000

0.10

984292

6700000

0.10

13342613

40100000

0.10

2800000

0.10

4857985

2600000

0.10

4423468

34700000

0.10

40100000

Supplemental balance sheet information is as follows: SCHEDULE OF SUPPLEMENTAL BALANCE SHEET INFORMATION <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 70%; margin-right: auto"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_493_20260331_z5Vb9m132JFc" style="font-weight: bold; text-align: center">March 31,</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_493_20251231_z5iIryCAKf42" style="font-weight: bold; text-align: center">December 31,</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; font-style: italic">(in thousands)</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_401_eus-gaap--DebtInstrumentCarryingAmount_iI_pn3n3_maLTDzJiM_zxPTA9SMojgd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Amount repayable at maturity</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">40,095</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">19,525</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--DebtInstrumentUnamortizedDiscount_iNI_pn3n3_di_msLTDzJiM_zorpU1KRZa5a" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Unamortized debt discount</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(7,462</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(313</td><td style="text-align: left">)</td></tr> <tr id="xdx_40A_eus-gaap--DeferredFinanceCostsCurrentGross_iNI_pn3n3_di_msLTDzJiM_zUbNOxT2OsCb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Unamortized issuance costs</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(492</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--LongTermDebt_iTI_pn3n3_mtLTDzJiM_zEwCcJcNOIHg" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Net carrying amount</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">32,141</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">19,212</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

40095000

19525000

7462000

313000

492000

32141000

19212000

2700000

3500000

2800000

12900000

SCHEDULE OF COMPONENTS INTEREST EXPENSE <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 70%; margin-right: auto"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_49C_20260101__20260331_z7ZBVnyT1p3i" style="font-weight: bold; text-align: center">March 31,</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_49E_20250101__20250331_zMCRAFj5lJW7" style="font-weight: bold; text-align: center">March 31,</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; font-style: italic">(in thousands)</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_401_eus-gaap--AmortizationOfFinancingCosts_pn3n3_maIENzBJS_zYTrU5tDhykc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Amortization of debt discount and issuance costs</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">2,743</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">3,502</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--InterestExpenseBorrowings_pn3n3_maIENzBJS_z405SaF3Wyic" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Interest expense from modification of notes payable</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,057</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_ecustom--NonCashInterestExpense_pn3n3_maIENzBJS_zhV3aC66wV35" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Discount on warrants (see Note 8. Warrant Liability)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,325</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--InterestExpenseOther_pn3n3_maIENzBJS_zQEBvRJEtgIg" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Other</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">10</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">19</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--InterestExpenseNonoperating_iT_pn3n3_mtIENzBJS_zFBNIDAphrEk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Total interest expense</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">2,753</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">12,903</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

2743000

3502000

2057000

7325000

10000

19000

2753000

12903000

0.063

Maturities of partial repayments, if elected by the Holder, are as follows: SCHEDULE OF MATURITIES LONG TERM DEBT <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 50%; margin-right: auto"> <tr style="vertical-align: bottom"> <td style="font-style: italic"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_49D_20260331_zSHcQga4fflg" style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; font-weight: normal; font-style: italic">(in thousands)</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Maturities</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold">Years Ended December 31,</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear_iI_pn3n3_maNPz3tS_zsVC1W1HH2k6" style="vertical-align: bottom; background-color: White"> <td style="width: 80%">2026 (remainder)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">31,629</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths_iI_pn3n3_maNPz3tS_z3h3gXTZBRlc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">2027</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">8,466</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--NotesPayable_iTI_pn3n3_mtNPz3tS_zXbWLYExO27f" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total partial repayments</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">40,095</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

31629000

8466000

40095000

6300000

The fair value of derivatives not designated as hedging instruments are as follows: SCHEDULE OF FAIR VALUE OF DERIVATIVES NOT DESIGNATED AS HEDGING INSTRUMENTS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 65%; margin-right: auto"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_49A_20260331_zniuZQT34l52" style="font-weight: bold; text-align: center">March 31,</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_496_20251231_zQMVDy3iheP" style="font-weight: bold; text-align: center">December 31,</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; font-style: italic">(in thousands)</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_406_eus-gaap--DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsAssetAtFairValue_iI_pn3n3_zQc3Nb0O35n" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left; padding-bottom: 1pt">Derivative liability</td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 14%; text-align: right">2,035</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 14%; text-align: right"> -</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--DerivativeLiabilitiesCurrent_iTI_pn3n3_zTHTDLe9z3Mb" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">2,035</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

2035000

<p id="xdx_898_eus-gaap--ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock_zuioRk8UrcI1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">Unrealized gains and losses associated with derivatives not designated as hedging instruments are as follows: SCHEDULE OF UNREALIZED GAIN AND LOSS INSTRUMENTS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 65%; margin-right: auto"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_499_20260101__20260331_zwRyubzKYdbf" style="font-weight: bold; text-align: center">March 31,</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_494_20250101__20250331_zxRu4QnmAshh" style="font-weight: bold; text-align: center">March 31,</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; font-style: italic">(in thousands)</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_409_eus-gaap--UnrealizedGainLossOnDerivatives_pn3n3_zYmzndGT3DAk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left; padding-bottom: 1pt">Unrealized gain on derivative liability</td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 14%; text-align: right">3,380</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 14%; text-align: right">842</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--UnrealizedGainLossOnDerivatives_iT_pn3n3_zKIiXTQCSIU4" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">3,380</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">842</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

3380000

842000

3380000

842000

The valuation inputs hierarchy classification for liabilities measured at fair value on a recurring basis are summarized below as of March 31, 2026 and December 31, 2025 (in thousands). See Note 6. Investment Securities, Available-For-Sale and Fair Value Measurements, for discussion of the fair value level hierarchy. SCHEDULE OF LIABILITIES MEASURED AT FAIR VALUE ON A RECURRING BASIS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; font-weight: bold">As of March 31, 2026</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_490_20260331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_z2c3by1CirX1" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 1</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20260331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zLyoxAZx1YZ6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 2</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20260331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zxL3KHRlTbAk" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 3</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_403_eus-gaap--DerivativeInstrumentsInHedgesAtFairValueNet_iI_pn3n3_zjb4RfCmmm9c" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 52%; text-align: left; padding-bottom: 1pt">Derivative liability</td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 12%; text-align: right">-</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 12%; text-align: right">-</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 12%; text-align: right">2,035</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--DerivativeLiabilities_iI_pn3n3_zW3natmGkAH2" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">2,035</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; font-weight: bold">As of December 31, 2025</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_493_20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zusV41W3ZTGj" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 1</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zHjIWNBRCgD8" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 2</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zQrO0Pw9Fxbe" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 3</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_406_eus-gaap--DerivativeInstrumentsInHedgesAtFairValueNet_iI_pn3n3_zW6bSxnJNvwb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 52%; text-align: left; padding-bottom: 1pt">Derivative liability</td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 12%; text-align: right">-</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 12%; text-align: right">-</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 12%; text-align: right">-</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--DerivativeLiabilities_iI_pn3n3_z7hXyYR0viOj" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

2035000

Activity related to the derivative liability during the three months ended March 31, 2026 is as follows: SCHEDULE OF ACTIVITY RELATED TO DERIVATIVE LIABILITIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_498_20260101__20260331_zg3RqW86T2U1" style="font-weight: bold; text-align: center">March 31,</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40E_eus-gaap--DerivativeLiabilities_iS_zmUz8hwFjHEd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Beginning balance</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_ecustom--InitialValuationOfConvertibleNotes_zyDqkOB5BWYf" style="vertical-align: bottom; background-color: White"> <td style="width: 80%; text-align: left">Initial valuation associated with new debt</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">6,315</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_402_ecustom--FairValueAssociatedWithConversionsOfDerivative_zlNLG1M8PUZ" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Fair value associated with conversions during the period</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(900</td><td style="text-align: left">)</td></tr> <tr id="xdx_402_ecustom--ReclassificationOfDerivativeOnDebtModification_zn6d2ec2fcU8" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Reclassification of derivative on debt modification</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_ecustom--ExtinguishmentOfDerivativeLiabilityOnDebtModification_z6gmoD7sVWR2" style="display: none; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Extinguishment of derivative liability on debt modification</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--DerivativeGainLossOnDerivativeNet_iN_di_zZ1OKI6kcPZ8" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Change in fair value during the period</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(3,380</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_408_eus-gaap--DerivativeLiabilities_iE_zvKz1RA7aQv5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Ending balance</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">2,035</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Activity related to the derivative liability during the three months ended March 31, 2025 is as follows: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_49F_20250101__20250331_zyGz9a320DGa" style="font-weight: bold; text-align: center">March 31,</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40E_eus-gaap--DerivativeLiabilities_iS_zl0yM7QNL9vh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%; text-align: left">Beginning balance</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">14,581</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_402_ecustom--FairValueAssociatedWithConversionsOfDerivative_zSUdndKxD5B2" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Fair value associated with conversions during the period</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,701</td><td style="text-align: left">)</td></tr> <tr id="xdx_409_ecustom--ReclassificationOfDerivativeOnDebtModification_zhQZw7r0KdJa" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Reclassification of derivative on debt modification</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(186</td><td style="text-align: left">)</td></tr> <tr id="xdx_40C_ecustom--ExtinguishmentOfDerivativeLiabilityOnDebtModification_zgKVOuPuoXhd" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Extinguishment of derivative liability on debt modification</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(14,199</td><td style="text-align: left">)</td></tr> <tr id="xdx_406_ecustom--InitialValuationOfConvertibleNotes_zfySP1uT8Iy1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Initial valuation associated with new debt</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,214</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--DerivativeGainLossOnDerivativeNet_iN_di_zA529enssoW5" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Change in fair value during the period</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(842</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_408_eus-gaap--DerivativeLiabilities_iE_z3Fwg2ZTxChk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Ending balance</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">4,867</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

6315000 -900000

3380000

2035000

14581000

-1701000 -186000 -14199000 7214000

842000

4867000

<p id="xdx_890_eus-gaap--FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTableTextBlock_zxN5xCh9zfx5" style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0pt 0pt 0">The table below lists the inputs and assumptions for the Company’s valuations of the 2026 Convertible Notes as of March 31, 2026 and February 23, 2026 and of the Prior Note as of December 31, 2025: SCHEDULE OF REVALUATION DERIVATIVE LIABILITY <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="vertical-align: bottom"> <td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">March 31,</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="text-align: center">February 23,</td> <td> </td> <td> </td> <td colspan="2" style="font-weight: bold; text-align: center">December 31,</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2026</td> <td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 52%; text-align: left">Expected term (years)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right">1.9</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="text-align: right; width: 1%"> </td> <td style="text-align: right; width: 12%">2.0</td> <td style="width: 1%"> </td> <td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right">0.8</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Risk-free interest rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90E_eus-gaap--DerivativeLiabilityMeasurementInput_iI_pid_uPure_c20260331__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember_zK7qxcJEQB82" title="Derivative liability rate">3.75</td><td style="text-align: left">%</td><td> </td> <td style="text-align: right"> </td> <td style="text-align: right"><span id="xdx_902_eus-gaap--DerivativeLiabilityMeasurementInput_iI_pid_uPure_c20260223__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember_zQBKZRgNCdbk" title="Derivative liability rate">3.40</td> <td>%</td> <td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_904_eus-gaap--DerivativeLiabilityMeasurementInput_iI_pid_uPure_c20251231__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember_zRq12Ftou2Mg" title="Derivative liability rate">3.50</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Dividend yield</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90F_eus-gaap--DerivativeLiabilityMeasurementInput_iI_pid_uPure_c20260331__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedDividendRateMember_zu9e6rMBB541" title="Derivative liability rate">0</td><td style="text-align: left">%</td><td> </td> <td style="text-align: right"> </td> <td style="text-align: right"><span id="xdx_900_eus-gaap--DerivativeLiabilityMeasurementInput_iI_pid_uPure_c20260223__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedDividendRateMember_zrtsLbgmDvSa" title="Derivative liability rate">0</td> <td>%</td> <td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90B_eus-gaap--DerivativeLiabilityMeasurementInput_iI_pid_uPure_c20251231__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedDividendRateMember_z6sAS2fpQclf" title="Derivative liability rate">0</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Volatility</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_908_eus-gaap--DerivativeLiabilityMeasurementInput_iI_pid_uPure_c20260331__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputOptionVolatilityMember_zEeuUuta5bD" title="Derivative liability rate">60.20</td><td style="text-align: left">%</td><td> </td> <td style="text-align: right"> </td> <td style="text-align: right"><span id="xdx_908_eus-gaap--DerivativeLiabilityMeasurementInput_iI_pid_uPure_c20260223__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputOptionVolatilityMember_z40ZjFUurGt4" title="Derivative liability rate">55.93</td> <td>%</td> <td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_901_eus-gaap--DerivativeLiabilityMeasurementInput_iI_pid_uPure_c20251231__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputOptionVolatilityMember_zFHPuXU7ljrg" title="Derivative liability rate">67.16</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Discount rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90A_eus-gaap--DerivativeLiabilityMeasurementInput_iI_pid_uPure_c20260331__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputDiscountRateMember_zfK7NKmk7Pzj" title="Derivative liability, measurement input">58.8</td><td style="text-align: left">%</td><td> </td> <td style="text-align: right"> </td> <td style="text-align: right"><span id="xdx_90F_eus-gaap--DerivativeLiabilityMeasurementInput_iI_pid_uPure_c20260223__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputDiscountRateMember_zdrcv2rzsWD7" title="Derivative liability, measurement input">58.4</td> <td>%</td> <td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_903_eus-gaap--DerivativeLiabilityMeasurementInput_iI_pid_uPure_c20251231__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputDiscountRateMember_zFZ6Hutxv3jg" title="Derivative liability, measurement input">50.0</td><td style="text-align: left">%</td></tr> </table>

P1Y10M24D P2Y P0Y9M18D

3.75

3.40

3.50

60.20

55.93

67.16

58.8

58.4

50.0

8. WARRANT LIABILITY On February 3, 2025, the Company entered into a new Securities Purchase Agreement (the “2025 Purchase Agreement”) with an institutional investor. In exchange for $8.0 million, the Holder agreed to purchase <span id="xdx_906_eus-gaap--StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities_c20250203__20250203__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember_zC5YrUrNdFkc" title="Number of common stock issued">5,750,225 shares of common stock (the “closing shares”) and warrants to purchase up to <span id="xdx_901_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByEachWarrantOrRight_iI_c20250203__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember_zSuvJU8LuQO9" title="Warrant to purchase common stock">5,750,225 shares of common stock at an exercise price of $<span id="xdx_907_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pid_c20250203__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember_zmBkEA5vooHc" title="Warrants exercise price">1.57 per share (the “warrants”). On February 4, 2025, the 2025 Purchase Agreement closed for net proceeds of approximately $7.8 million, inclusive of all fees and expenses related to the transaction. The warrants were exercisable beginning August 4, 2025 and expire on August 4, 2030. The warrants are accounted for as a liability under ASC 480, Distinguishing Liabilities from Equity. Both the closing shares and the warrants are initially recorded at their fair values of $9.0 million and $6.3 million, respectively. The warrant liability is subsequently remeasured and reported at fair value each reporting period, with the changes in fair value recorded as an unrealized gain or loss and recognized in earnings. The fair value of warrants is as follows: SCHEDULE OF FAIR VALUE OF WARRANTS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_49A_20260331_z7t4xggT9beg" style="font-weight: bold; text-align: center">March 31,</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_49E_20251231_zWRyQMqXiN7i" style="font-weight: bold; text-align: center">December 31,</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; font-style: italic">(in thousands)</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_401_ecustom--WarrantLiabilityNonCurrent_iI_pn3n3_zh3Mbp0Lwhsb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left; padding-bottom: 1pt">Warrant liability</td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 14%; text-align: right">1,271</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 14%; text-align: right">1,875</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--LiabilitiesFairValueDisclosure_iTI_pn3n3_zmQKPWxXjepj" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,271</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,875</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Unrealized gains and losses associated with warrants are as follows: SCHEDULE OF UNREALIZED GAINS AND LOSSES ASSOCIATED WITH WARRANTS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_490_20260101__20260331_zCNT5l6Xu0Ek" style="font-weight: bold; text-align: center">March 31,</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_49C_20250101__20250331_zs0JJ6peTNWh" style="font-weight: bold; text-align: center">March 31,</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; font-style: italic">(in thousands)</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_400_ecustom--UnrealizedGainLossOnWarrantLiability_pn3n3_zg5CfQYD0qX2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left; padding-bottom: 1pt">Unrealized gain on warrant liability</td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 14%; text-align: right">604</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 14%; text-align: right">1,761</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_402_ecustom--UnrealizedGainLossOnWarrantLiability_iT_pn3n3_zMrvVBZdYi7j" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">604</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,761</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Interest expense of $7.3 million representing the discount on the transaction was recorded on the condensed consolidated financial statements for the three months ended March 31, 2025. The valuation inputs hierarchy classification for liabilities measured at fair value on a recurring basis are summarized below as of March 31, 2026 and December 31, 2025 (in thousands). See Note 6. Investment Securities, Available-For-Sale and Fair Value Measurements, for discussion of the fair value level hierarchy. SCHEDULE OF HIERARCHY WARRANT LIABILITIES FAIR VALUE <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 85%; margin-right: auto"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">As of March 31, 2026</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20260331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zfnESAGt8pt9" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 1</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20260331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_z7nEP5qIMGI3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 2</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_493_20260331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zvvGOnLkcWZd" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 3</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_405_ecustom--WarrantLiabilityNonCurrent_iI_pn3n3_zz03YWz43Ql6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 52%; text-align: left; padding-bottom: 1pt">Warrant liability</td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 12%; text-align: right">-</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 12%; text-align: right">-</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 12%; text-align: right">1,271</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--LiabilitiesFairValueDisclosure_iI_pn3n3_zTaY8ba9CiIc" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,271</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 85%; margin-right: auto"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">As of December 31, 2025</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zjAOES2VgiM1" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 1</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zV8OhVvsXxPi" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 2</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zwCOd8kehH4b" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 3</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40C_ecustom--WarrantLiabilityNonCurrent_iI_pn3n3_zuzu3wwKQCfa" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 52%; text-align: left; padding-bottom: 1pt">Warrant liability</td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 12%; text-align: right">-</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 12%; text-align: right">-</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 12%; text-align: right">1,875</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--LiabilitiesFairValueDisclosure_iI_pn3n3_zt8iWYZGD9q2" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,875</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Activity related to the warrant liability during the three months ended March 31, 2026 and 2025 is as follows: SCHEDULE OF ACTIVITY RELATED TO WARRANT LIABILITY <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 85%; margin-right: auto"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_491_20260101__20260331_zuyR0UAXVEp4" style="font-weight: bold; text-align: center">March 31,</td><td style="font-weight: bold"> </td> <td> </td> <td colspan="2" id="xdx_49E_20250101__20250331_zYujzCF7WJG8" style="text-align: center">March 31,</td> <td> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2025</td> <td style="padding-bottom: 1pt"> </td></tr> <tr id="xdx_407_eus-gaap--LiabilitiesFairValueDisclosure_iS_zvlPXXm9AlG6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%">Beginning balance</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">1,875</td><td style="width: 1%; text-align: left"> </td> <td style="width: 2%"> </td> <td style="width: 1%">$</td> <td style="text-align: right; width: 16%">-</td> <td style="width: 1%"> </td></tr> <tr id="xdx_406_ecustom--InitialValuationWithWarrantsLiability_iN_di_zPruaWGZbrQ2" style="vertical-align: bottom; background-color: White"> <td>Initial valuation associated with the warrants</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td> <td> </td> <td> </td> <td style="text-align: right">6,297</td> <td> </td></tr> <tr id="xdx_401_ecustom--UnrealizedGainLossOnWarrantLiability_iN_di_zrOZiSfNoZ6b" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Change in fair value during the period</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(604</td><td style="padding-bottom: 1pt; text-align: left">)</td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid"> </td> <td style="border-bottom: Black 1pt solid; text-align: right">(1,761</td> <td style="padding-bottom: 1pt">)</td></tr> <tr id="xdx_402_eus-gaap--LiabilitiesFairValueDisclosure_iE_zeV7lNBPnPwh" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Ending balance</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,271</td><td style="padding-bottom: 2.5pt; text-align: left"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double">$</td> <td style="border-bottom: Black 2.5pt double; text-align: right">4,536</td> <td style="padding-bottom: 2.5pt"> </td></tr> </table> <p id="xdx_894_ecustom--FairValueOfWarrantsLiabilityMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTableTextBlock_zE0ptgEsS3V4" style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0pt 0pt 0">The fair value of the warrants is measured using the Black-Scholes option pricing model as of the measurement dates. The table below lists the inputs and assumptions for the Company’s valuations as of March 31, 2026 and December 31, 2025: SCHEDULE OF INPUTS AND ASSUMPTIONS FOR VALUATIONS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 85%; margin-right: auto"> <tr style="vertical-align: bottom"> <td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">March 31,</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">December 31,</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Expected term (years)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">4.3</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">4.6</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Risk-free interest rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90E_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_pid_uPure_c20260331__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember_zHs2OYCQnNok" title="Warrants and rights outstanding measurement input">3.88</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_907_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_pid_uPure_c20251231__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember_zxusbGLy6Vi5" title="Warrants and rights outstanding measurement input">3.69</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Dividend yield</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_902_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_pid_uPure_c20260331__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedDividendRateMember_z4ho8YZMBnT7" title="Warrants and rights outstanding measurement input">0</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_902_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_pid_uPure_c20251231__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedDividendRateMember_zXuRSij12rE7" title="Warrants and rights outstanding measurement input">0</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Volatility</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_900_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_pid_uPure_c20260331__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputOptionVolatilityMember_zfr9a9qeUix6" title="Warrants and rights outstanding measurement input">65.37</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90A_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_pid_uPure_c20251231__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputOptionVolatilityMember_z2a6I5DnzbHj" title="Warrants and rights outstanding measurement input">62.27</td><td style="text-align: left">%</td></tr> </table> 8000000.0

5750225

1.57

7800000

2030-08-04

9000000.0 6300000 The fair value of warrants is as follows: SCHEDULE OF FAIR VALUE OF WARRANTS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_49A_20260331_z7t4xggT9beg" style="font-weight: bold; text-align: center">March 31,</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_49E_20251231_zWRyQMqXiN7i" style="font-weight: bold; text-align: center">December 31,</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; font-style: italic">(in thousands)</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_401_ecustom--WarrantLiabilityNonCurrent_iI_pn3n3_zh3Mbp0Lwhsb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left; padding-bottom: 1pt">Warrant liability</td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 14%; text-align: right">1,271</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 14%; text-align: right">1,875</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--LiabilitiesFairValueDisclosure_iTI_pn3n3_zmQKPWxXjepj" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,271</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,875</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 1271000 1875000

1271000

1875000

Unrealized gains and losses associated with warrants are as follows: SCHEDULE OF UNREALIZED GAINS AND LOSSES ASSOCIATED WITH WARRANTS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_490_20260101__20260331_zCNT5l6Xu0Ek" style="font-weight: bold; text-align: center">March 31,</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_49C_20250101__20250331_zs0JJ6peTNWh" style="font-weight: bold; text-align: center">March 31,</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; font-style: italic">(in thousands)</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_400_ecustom--UnrealizedGainLossOnWarrantLiability_pn3n3_zg5CfQYD0qX2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left; padding-bottom: 1pt">Unrealized gain on warrant liability</td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 14%; text-align: right">604</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 14%; text-align: right">1,761</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_402_ecustom--UnrealizedGainLossOnWarrantLiability_iT_pn3n3_zMrvVBZdYi7j" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">604</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,761</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 604000 1761000 604000 1761000

7300000

The valuation inputs hierarchy classification for liabilities measured at fair value on a recurring basis are summarized below as of March 31, 2026 and December 31, 2025 (in thousands). See Note 6. Investment Securities, Available-For-Sale and Fair Value Measurements, for discussion of the fair value level hierarchy. SCHEDULE OF HIERARCHY WARRANT LIABILITIES FAIR VALUE <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 85%; margin-right: auto"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">As of March 31, 2026</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20260331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zfnESAGt8pt9" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 1</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20260331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_z7nEP5qIMGI3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 2</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_493_20260331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zvvGOnLkcWZd" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 3</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_405_ecustom--WarrantLiabilityNonCurrent_iI_pn3n3_zz03YWz43Ql6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 52%; text-align: left; padding-bottom: 1pt">Warrant liability</td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 12%; text-align: right">-</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 12%; text-align: right">-</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 12%; text-align: right">1,271</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--LiabilitiesFairValueDisclosure_iI_pn3n3_zTaY8ba9CiIc" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,271</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 85%; margin-right: auto"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">As of December 31, 2025</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel1Member_zjAOES2VgiM1" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 1</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zV8OhVvsXxPi" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 2</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel3Member_zwCOd8kehH4b" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Level 3</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40C_ecustom--WarrantLiabilityNonCurrent_iI_pn3n3_zuzu3wwKQCfa" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 52%; text-align: left; padding-bottom: 1pt">Warrant liability</td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 12%; text-align: right">-</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 12%; text-align: right">-</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 12%; text-align: right">1,875</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--LiabilitiesFairValueDisclosure_iI_pn3n3_zt8iWYZGD9q2" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,875</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 1271000

1271000

1875000

Activity related to the warrant liability during the three months ended March 31, 2026 and 2025 is as follows: SCHEDULE OF ACTIVITY RELATED TO WARRANT LIABILITY <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 85%; margin-right: auto"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_491_20260101__20260331_zuyR0UAXVEp4" style="font-weight: bold; text-align: center">March 31,</td><td style="font-weight: bold"> </td> <td> </td> <td colspan="2" id="xdx_49E_20250101__20250331_zYujzCF7WJG8" style="text-align: center">March 31,</td> <td> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2025</td> <td style="padding-bottom: 1pt"> </td></tr> <tr id="xdx_407_eus-gaap--LiabilitiesFairValueDisclosure_iS_zvlPXXm9AlG6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%">Beginning balance</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">1,875</td><td style="width: 1%; text-align: left"> </td> <td style="width: 2%"> </td> <td style="width: 1%">$</td> <td style="text-align: right; width: 16%">-</td> <td style="width: 1%"> </td></tr> <tr id="xdx_406_ecustom--InitialValuationWithWarrantsLiability_iN_di_zPruaWGZbrQ2" style="vertical-align: bottom; background-color: White"> <td>Initial valuation associated with the warrants</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td> <td> </td> <td> </td> <td style="text-align: right">6,297</td> <td> </td></tr> <tr id="xdx_401_ecustom--UnrealizedGainLossOnWarrantLiability_iN_di_zrOZiSfNoZ6b" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Change in fair value during the period</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(604</td><td style="padding-bottom: 1pt; text-align: left">)</td> <td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid"> </td> <td style="border-bottom: Black 1pt solid; text-align: right">(1,761</td> <td style="padding-bottom: 1pt">)</td></tr> <tr id="xdx_402_eus-gaap--LiabilitiesFairValueDisclosure_iE_zeV7lNBPnPwh" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Ending balance</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,271</td><td style="padding-bottom: 2.5pt; text-align: left"> </td> <td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double">$</td> <td style="border-bottom: Black 2.5pt double; text-align: right">4,536</td> <td style="padding-bottom: 2.5pt"> </td></tr> </table>

1875000

-6297000 604000 1761000

1271000

4536000

<p id="xdx_894_ecustom--FairValueOfWarrantsLiabilityMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTableTextBlock_zE0ptgEsS3V4" style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0pt 0pt 0">The fair value of the warrants is measured using the Black-Scholes option pricing model as of the measurement dates. The table below lists the inputs and assumptions for the Company’s valuations as of March 31, 2026 and December 31, 2025: SCHEDULE OF INPUTS AND ASSUMPTIONS FOR VALUATIONS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 85%; margin-right: auto"> <tr style="vertical-align: bottom"> <td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">March 31,</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">December 31,</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Expected term (years)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">4.3</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">4.6</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Risk-free interest rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90E_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_pid_uPure_c20260331__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember_zHs2OYCQnNok" title="Warrants and rights outstanding measurement input">3.88</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_907_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_pid_uPure_c20251231__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputRiskFreeInterestRateMember_zxusbGLy6Vi5" title="Warrants and rights outstanding measurement input">3.69</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Dividend yield</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_902_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_pid_uPure_c20260331__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedDividendRateMember_z4ho8YZMBnT7" title="Warrants and rights outstanding measurement input">0</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_902_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_pid_uPure_c20251231__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputExpectedDividendRateMember_zXuRSij12rE7" title="Warrants and rights outstanding measurement input">0</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Volatility</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_900_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_pid_uPure_c20260331__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputOptionVolatilityMember_zfr9a9qeUix6" title="Warrants and rights outstanding measurement input">65.37</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90A_eus-gaap--WarrantsAndRightsOutstandingMeasurementInput_iI_pid_uPure_c20251231__us-gaap--MeasurementInputTypeAxis__us-gaap--MeasurementInputOptionVolatilityMember_z2a6I5DnzbHj" title="Warrants and rights outstanding measurement input">62.27</td><td style="text-align: left">%</td></tr> </table>

P4Y3M18D

P4Y7M6D

3.88

3.69

65.37

62.27

9. FINANCIAL STATEMENT COMPONENTS Inventory Inventory consists of the following (in thousands): SCHEDULE OF COMPONENTS OF INVENTORY <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 85%; margin-right: auto"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_498_20260331_zHs4KmqQyK7g" style="font-weight: bold; text-align: center">March 31,</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_49B_20251231_zM4WuZRs7rtj" style="font-weight: bold; text-align: center">December 31,</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-style: italic"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_400_eus-gaap--InventoryRawMaterials_iI_pn3n3_maINzzm2_z4gDMVyUGUif" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Raw materials</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">2,098</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--InventoryFinishedGoods_iI_pn3n3_maINzzm2_zXk5RbONcT6j" style="vertical-align: bottom; background-color: White"> <td style="width: 60%; text-align: left; padding-bottom: 1pt">Finished goods</td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td style="border-bottom: Black 1pt solid; width: 16%; text-align: right">1,930</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td style="border-bottom: Black 1pt solid; width: 16%; text-align: right">745</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--InventoryNet_iTI_pn3n3_mtINzzm2_zDyVC53FQNBh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Total inventory </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">4,028</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">745</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Inventory is computed using the first-in, first-out (FIFO) method and is stated at the lower of cost and net realizable value. Management periodically assesses the need to account for obsolescence of inventory and adjusts the carrying value of inventory to its net realizable value when required. Property and Equipment Property and equipment consists of the following (in thousands): SCHEDULE OF COMPONENTS OF PROPERTY AND EQUIPMENT <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 85%; margin-right: auto"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_493_20260331_zDzYk7iKL8h4" style="font-weight: bold; text-align: center">March 31,</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_491_20251231_zbM8mUHf5qK7" style="font-weight: bold; text-align: center">December 31,</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-style: italic"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_408_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--MachineryAndEquipmentMember_znmqTFGDINgc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Production equipment</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">6,140</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">6,140</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember_za6Fnm8UFcBb" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Leasehold improvements</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,863</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,067</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--ComputerHardwareAndSoftwareLlabEquipmentMember_zPe2uduBvdLa" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Computer hardware and software/lab equipment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">22,009</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10,364</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--OfficeFurnitureAndEquipmentMember_zK0l2RAXDCJe" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Office furniture and equipment</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">6,223</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">5,575</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_maPPAENzaJx_z3vsop96ymnl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Property and equipment, gross </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">40,235</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">26,146</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNI_pn3n3_di_msPPAENzaJx_z0h2B2N8ESdd" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Less: Accumulated depreciation</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(22,935</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(21,866</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40B_eus-gaap--PropertyPlantAndEquipmentNet_iTI_pn3n3_mtPPAENzaJx_zHdDiSXMOTP4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Property and equipment, net </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">17,300</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">4,280</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Depreciation expense was $1.2 million and $0.4 million for the three months ended March 31, 2026 and 2025, respectively. Intangible Assets The components of intangible assets were as follows (in thousands): SUMMARY OF COMPONENTS OF INTANGIBLE ASSETS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Gross</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Net</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Weighted Average</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Carrying</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Accumulated</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Impairment</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Carrying</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center"> Remaining</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">As of March 31, 2026</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Amount</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Amortization</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Expense</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Amount</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Period (Years)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 35%; text-align: left; padding-bottom: 1pt">Acquired technology</td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td id="xdx_98C_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_pn3n3_c20260331__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__custom--AcquiredTechnologyMember_zSRVwbSTvcb9" style="border-bottom: Black 1pt solid; width: 9%; text-align: right">16,028</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td id="xdx_986_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iNI_pn3n3_di_c20260331__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__custom--AcquiredTechnologyMember_z1IPqdOTsj48" style="border-bottom: Black 1pt solid; width: 9%; text-align: right" title="Accumulated Amortization">2,366</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td id="xdx_983_eus-gaap--ImpairmentOfIntangibleAssetsFinitelived_pn3n3_c20260101__20260331__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__custom--AcquiredTechnologyMember_zbWURd2UyAJd" style="border-bottom: Black 1pt solid; width: 9%; text-align: right" title="Impairment Expense">-</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td id="xdx_98F_eus-gaap--FiniteLivedIntangibleAssetsNet_iI_pn3n3_c20260331__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__custom--AcquiredTechnologyMember_zdGVcn8zS5Qj" style="border-bottom: Black 1pt solid; width: 9%; text-align: right" title="Net Carrying Amount">13,662</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; width: 1%; text-align: left"> </td><td style="padding-bottom: 1pt; width: 9%; text-align: right"><span id="xdx_906_eus-gaap--AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife_dtY_c20260101__20260331__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__custom--AcquiredTechnologyMember_zOXpeF9b4Wpf" title="Weighted Average Remaining Period (Years)">4</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98E_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_pn3n3_c20260331_zWNBD5hH9nU6" style="border-bottom: Black 2.5pt double; text-align: right" title="Gross Carrying Amount">16,028</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_982_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iNI_pn3n3_di_c20260331_zHqXBJlA1M3l" style="border-bottom: Black 2.5pt double; text-align: right" title="Accumulated Amortization">2,366</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98D_eus-gaap--ImpairmentOfIntangibleAssetsFinitelived_pn3n3_c20260101__20260331_zlR95DL8Fanb" style="border-bottom: Black 2.5pt double; text-align: right" title="Impairment Expense">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_986_eus-gaap--FiniteLivedIntangibleAssetsNet_iI_pn3n3_c20260331_zhGrG3Eagswi" style="border-bottom: Black 2.5pt double; text-align: right" title="Net Carrying Amount">13,662</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt; text-align: right"> </td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Gross</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Net</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Weighted Average</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Carrying</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Accumulated</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Impairment</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Carrying</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center"> Remaining</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">As of December 31, 2025</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Amount</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Amortization</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Expense</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Amount</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Period (Years)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 35%; text-align: left; padding-bottom: 1pt">Acquired technology</td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td id="xdx_98D_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_pn3n3_c20251231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__custom--AcquiredTechnologyMember_zTa4aW61USz7" style="border-bottom: Black 1pt solid; width: 9%; text-align: right">16,027</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td id="xdx_985_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iNI_pn3n3_di_c20251231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__custom--AcquiredTechnologyMember_z4uMUJdj3RJj" style="border-bottom: Black 1pt solid; width: 9%; text-align: right" title="Accumulated Amortization">5,938</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td id="xdx_98A_eus-gaap--ImpairmentOfIntangibleAssetsFinitelived_pn3n3_c20250101__20251231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__custom--AcquiredTechnologyMember_zi5fSSkdDidf" style="border-bottom: Black 1pt solid; width: 9%; text-align: right" title="Impairment Expense">10,057</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td id="xdx_98B_eus-gaap--FiniteLivedIntangibleAssetsNet_iI_pn3n3_c20251231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__custom--AcquiredTechnologyMember_zI0OAwiLxHhj" style="border-bottom: Black 1pt solid; width: 9%; text-align: right" title="Net Carrying Amount">32</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; width: 1%; text-align: left"> </td><td style="padding-bottom: 1pt; width: 9%; text-align: right"><span id="xdx_905_eus-gaap--AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife_dtY_c20250101__20251231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__custom--AcquiredTechnologyMember_z4h4412ddN9j" title="Weighted Average Remaining Period (Years)">1</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_984_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_pn3n3_c20251231_zcfLrbU0oOnf" style="border-bottom: Black 2.5pt double; text-align: right" title="Gross Carrying Amount">16,027</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_981_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iNI_pn3n3_di_c20251231_z2gNGzDvpWWg" style="border-bottom: Black 2.5pt double; text-align: right" title="Accumulated Amortization">5,938</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_985_eus-gaap--ImpairmentOfIntangibleAssetsFinitelived_pn3n3_c20250101__20251231_zOuzkSWHqQF3" style="border-bottom: Black 2.5pt double; text-align: right" title="Impairment Expense">10,057</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98D_eus-gaap--FiniteLivedIntangibleAssetsNet_iI_pn3n3_c20251231_zUZEaHkR7k17" style="border-bottom: Black 2.5pt double; text-align: right" title="Net Carrying Amount">32</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt; text-align: right"> </td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Amortization expense was $0.2 million and $0.2 million during the three months ended March 31, 2026 and 2025, respectively. The following table outlines our estimated future amortization expense related to intangible assets held as of March 31, 2026 by line item on the condensed consolidated statement of operations (in thousands): SCHEDULE OF ESTIMATED FUTURE AMORTIZATION EXPENSE RELATED TO INTANGIBLE ASSETS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 60%; margin-right: auto"> <tr style="vertical-align: bottom"> <td style="font-style: italic"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_49D_20260331_z9ELQ6F1w3Y1" style="white-space: nowrap; font-weight: bold; text-align: center">Research and</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-style: italic"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Development</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">Years Ended December 31,</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Expense</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_405_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear_iI_pn3n3_maFLIANzyZp_zTzB99qz3rw5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%; text-align: left">2026 (remainder of the year)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">929</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths_iI_pn3n3_maFLIANzyZp_zNO6Wii8w6bd" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">2027</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,459</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo_iI_pn3n3_maFLIANzyZp_zPGRtQn42Ivf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">2028</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,458</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseYearThree_iI_pn3n3_maFLIANzyZp_zV39JiekDBsl" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">2029</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,457</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseYearFour_iI_pn3n3_maFLIANzyZp_zy9uPcUx3G7f" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">2030</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,457</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_ecustom--FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFour_iI_pn3n3_maFLIANzyZp_z4QsSylqY7I1" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Thereafter</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">6,902</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--FiniteLivedIntangibleAssetsNet_iTI_pn3n3_mtFLIANzyZp_zH4WCerCkQC2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">13,662</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Accounts Payable Accounts payable consists of the following (in thousands): SCHEDULE OF ACCOUNTS PAYABLE <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_49C_20260331_zXTJ0R2AjpG" style="font-weight: bold; text-align: center">March 31,</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_49F_20251231_zS23hdYOhXBd" style="font-weight: bold; text-align: center">December 31,</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-style: italic"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_406_ecustom--AccountsPayableSoftwareLicenses_iI_pn3n3_maAPCzovB_zGjZGDQIenD3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left">Software licenses</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">1,091</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">58</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_405_ecustom--AccountsPayableLegalFees_iI_pn3n3_maAPCzovB_zC00630dkQ01" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Legal fees</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">74</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_ecustom--AccountsPayablePurchasedAccountingServices_iI_pn3n3_maAPCzovB_zxUkk1MtUSY6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Purchased accounting services</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">923</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_ecustom--AccountsPayableInventoryNet_iI_pn3n3_maAPCzovB_zUwcigdYHwD7" style="vertical-align: bottom; background-color: White"> <td>Inventory</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">490</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">543</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_ecustom--AccountsPayableAuditFees_iI_pn3n3_maAPCzovB_zqVx3xKZ9Hi3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Audit fees</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">143</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">13</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--AccountsPayableOtherCurrent_iI_pn3n3_maAPCzovB_zhV6WDlTnH2c" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Other</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">890</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">940</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--AccountsPayableCurrent_iTI_pn3n3_mtAPCzovB_zgy0QnYK0JEj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Total accounts payable </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">4,537</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,628</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Accrued Liabilities Accrued liabilities consists of the following (in thousands): SCHEDULE OF ACCRUED LIABILITIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_494_20260331_zKY149gmcNm6" style="font-weight: bold; text-align: center">March 31,</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_49B_20251231_zQUWvjmucYtb" style="font-weight: bold; text-align: center">December 31,</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-style: italic"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_409_eus-gaap--AccruedBonusesCurrent_iI_pn3n3_maALCzt7w_zw0mgi33G1bl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%">Bonuses</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">494</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">445</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--AccruedPayrollTaxesCurrent_iI_pn3n3_maALCzt7w_zxOU87gCltT2" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Payroll and payroll taxes</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,426</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,124</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_ecustom--RestructuringChargesCurrent_iI_pn3n3_maALCzt7w_zx1TiMvC4dK8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Restructuring charges</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,139</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--TaxesPayableCurrent_iI_pn3n3_maALCzt7w_zEj6c7OMYixg" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Income taxes payable</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">21</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--AccruedProfessionalFeesCurrent_iI_pn3n3_maALCzt7w_zmoIqpscXva" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Accrued professional fees</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">223</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">366</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_ecustom--AccruedLiabilitiesToSuppliers_iI_pn3n3_maALCzt7w_zynSYw7wN0Ef" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Liabilities to suppliers</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">48</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">117</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_ecustom--AccruedAdversePurchaseCommitment_iI_pn3n3_maALCzt7w_zlbBwoOoMMgl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Adverse purchase commitment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,862</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,158</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_ecustom--OtherAccruedLiabilitiesIncludingTaxBenefit_iI_pn3n3_maALCzt7w_ztuvRN0Pk4Gh" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Other</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">350</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">195</td><td style="padding-bottom: 1pt; text-align: left"></td></tr> <tr id="xdx_40C_eus-gaap--AccruedLiabilitiesCurrent_iTI_pn3n3_mtALCzt7w_zhmF56fTkLP3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Total accrued liabilities </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">7,542</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">5,426</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

Inventory consists of the following (in thousands): SCHEDULE OF COMPONENTS OF INVENTORY <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 85%; margin-right: auto"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_498_20260331_zHs4KmqQyK7g" style="font-weight: bold; text-align: center">March 31,</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_49B_20251231_zM4WuZRs7rtj" style="font-weight: bold; text-align: center">December 31,</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-style: italic"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_400_eus-gaap--InventoryRawMaterials_iI_pn3n3_maINzzm2_z4gDMVyUGUif" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Raw materials</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">2,098</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--InventoryFinishedGoods_iI_pn3n3_maINzzm2_zXk5RbONcT6j" style="vertical-align: bottom; background-color: White"> <td style="width: 60%; text-align: left; padding-bottom: 1pt">Finished goods</td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td style="border-bottom: Black 1pt solid; width: 16%; text-align: right">1,930</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td style="border-bottom: Black 1pt solid; width: 16%; text-align: right">745</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--InventoryNet_iTI_pn3n3_mtINzzm2_zDyVC53FQNBh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Total inventory </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">4,028</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">745</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

2098000

1930000

745000

4028000

745000

Property and equipment consists of the following (in thousands): SCHEDULE OF COMPONENTS OF PROPERTY AND EQUIPMENT <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 85%; margin-right: auto"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_493_20260331_zDzYk7iKL8h4" style="font-weight: bold; text-align: center">March 31,</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_491_20251231_zbM8mUHf5qK7" style="font-weight: bold; text-align: center">December 31,</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-style: italic"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_408_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--MachineryAndEquipmentMember_znmqTFGDINgc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Production equipment</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">6,140</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">6,140</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember_za6Fnm8UFcBb" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Leasehold improvements</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,863</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,067</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--ComputerHardwareAndSoftwareLlabEquipmentMember_zPe2uduBvdLa" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Computer hardware and software/lab equipment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">22,009</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10,364</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--OfficeFurnitureAndEquipmentMember_zK0l2RAXDCJe" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Office furniture and equipment</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">6,223</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">5,575</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_maPPAENzaJx_z3vsop96ymnl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Property and equipment, gross </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">40,235</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">26,146</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNI_pn3n3_di_msPPAENzaJx_z0h2B2N8ESdd" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Less: Accumulated depreciation</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(22,935</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(21,866</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40B_eus-gaap--PropertyPlantAndEquipmentNet_iTI_pn3n3_mtPPAENzaJx_zHdDiSXMOTP4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Property and equipment, net </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">17,300</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">4,280</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

6140000

5863000

4067000

22009000

10364000

6223000

5575000

40235000

26146000

22935000

21866000

17300000

4280000

1200000

400000

The components of intangible assets were as follows (in thousands): SUMMARY OF COMPONENTS OF INTANGIBLE ASSETS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Gross</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Net</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Weighted Average</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Carrying</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Accumulated</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Impairment</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Carrying</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center"> Remaining</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">As of March 31, 2026</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Amount</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Amortization</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Expense</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Amount</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Period (Years)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 35%; text-align: left; padding-bottom: 1pt">Acquired technology</td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td id="xdx_98C_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_pn3n3_c20260331__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__custom--AcquiredTechnologyMember_zSRVwbSTvcb9" style="border-bottom: Black 1pt solid; width: 9%; text-align: right">16,028</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td id="xdx_986_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iNI_pn3n3_di_c20260331__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__custom--AcquiredTechnologyMember_z1IPqdOTsj48" style="border-bottom: Black 1pt solid; width: 9%; text-align: right" title="Accumulated Amortization">2,366</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td id="xdx_983_eus-gaap--ImpairmentOfIntangibleAssetsFinitelived_pn3n3_c20260101__20260331__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__custom--AcquiredTechnologyMember_zbWURd2UyAJd" style="border-bottom: Black 1pt solid; width: 9%; text-align: right" title="Impairment Expense">-</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td id="xdx_98F_eus-gaap--FiniteLivedIntangibleAssetsNet_iI_pn3n3_c20260331__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__custom--AcquiredTechnologyMember_zdGVcn8zS5Qj" style="border-bottom: Black 1pt solid; width: 9%; text-align: right" title="Net Carrying Amount">13,662</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; width: 1%; text-align: left"> </td><td style="padding-bottom: 1pt; width: 9%; text-align: right"><span id="xdx_906_eus-gaap--AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife_dtY_c20260101__20260331__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__custom--AcquiredTechnologyMember_zOXpeF9b4Wpf" title="Weighted Average Remaining Period (Years)">4</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98E_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_pn3n3_c20260331_zWNBD5hH9nU6" style="border-bottom: Black 2.5pt double; text-align: right" title="Gross Carrying Amount">16,028</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_982_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iNI_pn3n3_di_c20260331_zHqXBJlA1M3l" style="border-bottom: Black 2.5pt double; text-align: right" title="Accumulated Amortization">2,366</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98D_eus-gaap--ImpairmentOfIntangibleAssetsFinitelived_pn3n3_c20260101__20260331_zlR95DL8Fanb" style="border-bottom: Black 2.5pt double; text-align: right" title="Impairment Expense">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_986_eus-gaap--FiniteLivedIntangibleAssetsNet_iI_pn3n3_c20260331_zhGrG3Eagswi" style="border-bottom: Black 2.5pt double; text-align: right" title="Net Carrying Amount">13,662</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt; text-align: right"> </td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Gross</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Net</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Weighted Average</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Carrying</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Accumulated</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Impairment</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Carrying</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center"> Remaining</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">As of December 31, 2025</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Amount</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Amortization</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Expense</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Amount</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Period (Years)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 35%; text-align: left; padding-bottom: 1pt">Acquired technology</td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td id="xdx_98D_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_pn3n3_c20251231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__custom--AcquiredTechnologyMember_zTa4aW61USz7" style="border-bottom: Black 1pt solid; width: 9%; text-align: right">16,027</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td id="xdx_985_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iNI_pn3n3_di_c20251231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__custom--AcquiredTechnologyMember_z4uMUJdj3RJj" style="border-bottom: Black 1pt solid; width: 9%; text-align: right" title="Accumulated Amortization">5,938</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td id="xdx_98A_eus-gaap--ImpairmentOfIntangibleAssetsFinitelived_pn3n3_c20250101__20251231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__custom--AcquiredTechnologyMember_zi5fSSkdDidf" style="border-bottom: Black 1pt solid; width: 9%; text-align: right" title="Impairment Expense">10,057</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td id="xdx_98B_eus-gaap--FiniteLivedIntangibleAssetsNet_iI_pn3n3_c20251231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__custom--AcquiredTechnologyMember_zI0OAwiLxHhj" style="border-bottom: Black 1pt solid; width: 9%; text-align: right" title="Net Carrying Amount">32</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; width: 1%; text-align: left"> </td><td style="padding-bottom: 1pt; width: 9%; text-align: right"><span id="xdx_905_eus-gaap--AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife_dtY_c20250101__20251231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__custom--AcquiredTechnologyMember_z4h4412ddN9j" title="Weighted Average Remaining Period (Years)">1</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_984_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_pn3n3_c20251231_zcfLrbU0oOnf" style="border-bottom: Black 2.5pt double; text-align: right" title="Gross Carrying Amount">16,027</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_981_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iNI_pn3n3_di_c20251231_z2gNGzDvpWWg" style="border-bottom: Black 2.5pt double; text-align: right" title="Accumulated Amortization">5,938</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_985_eus-gaap--ImpairmentOfIntangibleAssetsFinitelived_pn3n3_c20250101__20251231_zOuzkSWHqQF3" style="border-bottom: Black 2.5pt double; text-align: right" title="Impairment Expense">10,057</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98D_eus-gaap--FiniteLivedIntangibleAssetsNet_iI_pn3n3_c20251231_zUZEaHkR7k17" style="border-bottom: Black 2.5pt double; text-align: right" title="Net Carrying Amount">32</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt; text-align: right"> </td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

16028000

-2366000

13662000

P4Y

16028000

-2366000

13662000

16027000

-5938000

10057000

32000

P1Y

16027000

-5938000

10057000

32000

200000

The following table outlines our estimated future amortization expense related to intangible assets held as of March 31, 2026 by line item on the condensed consolidated statement of operations (in thousands): SCHEDULE OF ESTIMATED FUTURE AMORTIZATION EXPENSE RELATED TO INTANGIBLE ASSETS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 60%; margin-right: auto"> <tr style="vertical-align: bottom"> <td style="font-style: italic"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_49D_20260331_z9ELQ6F1w3Y1" style="white-space: nowrap; font-weight: bold; text-align: center">Research and</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-style: italic"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Development</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">Years Ended December 31,</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Expense</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_405_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear_iI_pn3n3_maFLIANzyZp_zTzB99qz3rw5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%; text-align: left">2026 (remainder of the year)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">929</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths_iI_pn3n3_maFLIANzyZp_zNO6Wii8w6bd" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">2027</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,459</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo_iI_pn3n3_maFLIANzyZp_zPGRtQn42Ivf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">2028</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,458</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseYearThree_iI_pn3n3_maFLIANzyZp_zV39JiekDBsl" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">2029</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,457</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseYearFour_iI_pn3n3_maFLIANzyZp_zy9uPcUx3G7f" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">2030</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,457</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_ecustom--FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFour_iI_pn3n3_maFLIANzyZp_z4QsSylqY7I1" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Thereafter</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">6,902</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--FiniteLivedIntangibleAssetsNet_iTI_pn3n3_mtFLIANzyZp_zH4WCerCkQC2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">13,662</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

929000

1459000

1458000

1457000

6902000

13662000

Accounts payable consists of the following (in thousands): SCHEDULE OF ACCOUNTS PAYABLE <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_49C_20260331_zXTJ0R2AjpG" style="font-weight: bold; text-align: center">March 31,</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_49F_20251231_zS23hdYOhXBd" style="font-weight: bold; text-align: center">December 31,</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-style: italic"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_406_ecustom--AccountsPayableSoftwareLicenses_iI_pn3n3_maAPCzovB_zGjZGDQIenD3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left">Software licenses</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">1,091</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">58</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_405_ecustom--AccountsPayableLegalFees_iI_pn3n3_maAPCzovB_zC00630dkQ01" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Legal fees</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">74</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_ecustom--AccountsPayablePurchasedAccountingServices_iI_pn3n3_maAPCzovB_zxUkk1MtUSY6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Purchased accounting services</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">923</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_ecustom--AccountsPayableInventoryNet_iI_pn3n3_maAPCzovB_zUwcigdYHwD7" style="vertical-align: bottom; background-color: White"> <td>Inventory</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">490</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">543</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_ecustom--AccountsPayableAuditFees_iI_pn3n3_maAPCzovB_zqVx3xKZ9Hi3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Audit fees</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">143</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">13</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--AccountsPayableOtherCurrent_iI_pn3n3_maAPCzovB_zhV6WDlTnH2c" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Other</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">890</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">940</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--AccountsPayableCurrent_iTI_pn3n3_mtAPCzovB_zgy0QnYK0JEj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Total accounts payable </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">4,537</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,628</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

1091000 58000 1000000 74000 923000 490000 543000 143000 13000

890000

940000

4537000

1628000

Accrued liabilities consists of the following (in thousands): SCHEDULE OF ACCRUED LIABILITIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_494_20260331_zKY149gmcNm6" style="font-weight: bold; text-align: center">March 31,</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_49B_20251231_zQUWvjmucYtb" style="font-weight: bold; text-align: center">December 31,</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-style: italic"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_409_eus-gaap--AccruedBonusesCurrent_iI_pn3n3_maALCzt7w_zw0mgi33G1bl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%">Bonuses</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">494</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 14%; text-align: right">445</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--AccruedPayrollTaxesCurrent_iI_pn3n3_maALCzt7w_zxOU87gCltT2" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Payroll and payroll taxes</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,426</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,124</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_ecustom--RestructuringChargesCurrent_iI_pn3n3_maALCzt7w_zx1TiMvC4dK8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Restructuring charges</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,139</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--TaxesPayableCurrent_iI_pn3n3_maALCzt7w_zEj6c7OMYixg" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Income taxes payable</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">21</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--AccruedProfessionalFeesCurrent_iI_pn3n3_maALCzt7w_zmoIqpscXva" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Accrued professional fees</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">223</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">366</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_ecustom--AccruedLiabilitiesToSuppliers_iI_pn3n3_maALCzt7w_zynSYw7wN0Ef" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Liabilities to suppliers</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">48</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">117</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_ecustom--AccruedAdversePurchaseCommitment_iI_pn3n3_maALCzt7w_zlbBwoOoMMgl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Adverse purchase commitment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,862</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,158</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_ecustom--OtherAccruedLiabilitiesIncludingTaxBenefit_iI_pn3n3_maALCzt7w_ztuvRN0Pk4Gh" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Other</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">350</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">195</td><td style="padding-bottom: 1pt; text-align: left"></td></tr> <tr id="xdx_40C_eus-gaap--AccruedLiabilitiesCurrent_iTI_pn3n3_mtALCzt7w_zhmF56fTkLP3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Total accrued liabilities </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">7,542</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">5,426</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

494000

445000

2426000

1124000

1139000

21000

223000

366000

48000 117000 2862000 3158000 350000 195000

7542000

5426000

10. SHARE-BASED COMPENSATION The Company issues share-based compensation to employees in the form of restricted stock units (RSUs), performance stock units (PSUs), and stock options. Share-based awards are accounted for by recognizing the fair value of share-based compensation expense on a straight-line basis over the service period of the award, net of estimated forfeitures. The fair value of RSUs and PSUs is determined by the closing price of common stock on the date of grant. The fair value of stock options is estimated on the grant date using the Black-Scholes option pricing model. Changes in estimated inputs or using other option valuation methods may result in materially different option values and share-based compensation expense. <p id="xdx_89B_eus-gaap--ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock_zsPveCFV7uEe" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">The following table summarizes the amount of share-based compensation expense by line item on the condensed consolidated statements of operations: SCHEDULE OF SHARE-BASED COMPENSATION EXPENSE <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="display: none; vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_492_20260101__20260331_zncXQOZsq7M3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20250101__20250331_zB9oOEWU1h46" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="6" style="font-weight: bold; text-align: center">Three Months Ended</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">March 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">Share-based compensation expense</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40D_eus-gaap--AllocatedShareBasedCompensationExpense_pn3n3_hus-gaap--StatementOfIncomeLocationBalanceAxis__us-gaap--ResearchAndDevelopmentExpense_zWiYU4JoRBz4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Research and development expense</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">227</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">508</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--AllocatedShareBasedCompensationExpense_pn3n3_hus-gaap--StatementOfIncomeLocationBalanceAxis__us-gaap--SellingGeneralAndAdministrativeExpense_z7A8CHau9bsg" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Sales, marketing, general and administrative expense</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">756</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,413</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--AllocatedShareBasedCompensationExpense_pn3n3_hus-gaap--StatementOfIncomeLocationBalanceAxis__us-gaap--ShareBasedCompensationExpense_zvz1e3x9Ep1e" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Total Share-based compensation expense</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">983</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,921</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Options Activity and Positions <p id="xdx_89D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAndExercisableTableTextBlock_z97skRheSVMa" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">The following table summarizes shares, weighted-average exercise price, weighted-average remaining contractual term, and aggregate intrinsic value of options outstanding and options exercisable as of March 31, 2026 (in thousands, except per share data): SCHEDULE OF OPTIONS ACTIVITY AND POSITIONS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 90%; margin-right: auto"> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Weighted- </td><td style="font-weight: bold"> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Weighted- Average</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Average Remaining</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Aggregate</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold">Options</td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Exercise</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Contractual</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Intrinsic</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Shares</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Price</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Term (years)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Value</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 36%">Outstanding as of March 31, 2026</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iE_pn3n3_c20260101__20260331__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zIYRYG3XEQBk" style="width: 12%; text-align: right" title="Shares outstanding">602</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iI_pid_c20260331__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zauUyE9N8yu2" style="width: 12%; text-align: right" title="Weighted average exercise price, outstanding">1.40</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right"><span id="xdx_900_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20260101__20260331__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zk1piOwsGHte" title="Weighted average remaining contractual term (years), outstanding">1.8</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iE_pn3n3_c20260101__20260331__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zbN69cLJbMWk" style="width: 12%; text-align: right" title="Aggregate intrinsic value, outstanding">5</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Exercisable as of March 31, 2026</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_iE_pn3n3_c20260101__20260331__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_z75XMvvliz4c" style="text-align: right" title="Shares exercisable">602</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice_iI_pid_c20260331__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zpeDUhWeztJl" style="text-align: right" title="Weighted average exercise price exercisable">1.40</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90C_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1_dtY_c20260101__20260331__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zUemlmoKjP8k" title="Weighted average remaining contractual term (years), exercisable">1.8</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_989_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1_iE_c20260101__20260331__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zqkXnp3FqvWc" style="text-align: right" title="Aggregate intrinsic value, exercisable">5</td><td style="text-align: left"> </td></tr> </table> As of March 31, 2026, there is <span id="xdx_907_eus-gaap--EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions_iI_do_c20260331__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zry8RgjflB03" title="Unrecognized share-based employee compensation">no unrecognized share-based employee compensation related to stock options. Restricted Stock Activity and Positions The following table summarizes activity and positions with respect to RSUs and PSUs for the three months ended March 31, 2026 (in thousands, except per share data): SCHEDULE OF ACTIVITY AND POSITIONS WITH RESPECT TO RSUs AND PSUs <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Weighted-average</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Shares</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">price</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%">Unvested as of December 31, 2025</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iS_pn3n3_c20260101__20260331_zvEoPjJo3HJ3" style="width: 16%; text-align: right" title="Shares, unvested">9,862</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iS_pid_c20260101__20260331_zD0qg52ZYK7l" style="width: 16%; text-align: right" title="Weighted average price, unvested">1.24</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_pn3n3_c20260101__20260331_z0OpJ9TCwdXd" style="text-align: right" title="Shares granted">49</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_pid_c20260101__20260331_zcOupJ4x4a4b" style="text-align: right" title="Weighted average price, granted">0.84</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Vested</td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_iN_di_c20260101__20260331_zizzDaonYhS8" style="text-align: right" title="Shares vested">(692</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue_pid_c20260101__20260331_zRBfJefbidIb" style="text-align: right" title="Weighted average price, vested">1.21</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Forfeited</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod_iN_pn3n3_di_c20260101__20260331_zBXs3g4WKEGk" style="border-bottom: Black 1pt solid; text-align: right" title="Shares forfeited">(2,122</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_982_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue_pid_c20260101__20260331_zMjaYofwpSV" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted average price, forfeited">1.38</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Unvested as of March 31, 2026</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"></td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iE_pn3n3_c20260101__20260331_zKwNK74fe8d5" style="border-bottom: Black 2.5pt double; text-align: right" title="Shares, unvested">7,097</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iE_pid_c20260101__20260331_zbzmMSx7nHy4" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted average price, unvested">1.20</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> During the three months ended March 31, 2026, the Company granted <span id="xdx_907_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_pid_c20260101__20260331__us-gaap--AwardTypeAxis__us-gaap--PerformanceSharesMember__us-gaap--GranteeStatusAxis__custom--ShareBasedPaymentArrangementNonExecutiveEmployeesMember_zjGDEmxDpoQb" title="Number of shares issued">49,000 shares to non-executive employees. These shares were valued based on the closing price of our common stock on the dates of grant and vest immediately or over three years. As of March 31, 2026, unrecognized share-based compensation related to RSUs was $<span id="xdx_902_eus-gaap--EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedShareBasedAwardsOtherThanOptions_iI_pn5n6_c20260331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zsgOp8QqvPn3" title="Unrecognized share-based compensation">4.4 million, which will be expensed over the next <span id="xdx_90F_eus-gaap--EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1_dtY_c20260101__20260331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zfeUsCJEdlqk" title="Unrecognized share-based compensation, period for recognition">1.8 years. Unrecognized share-based compensation related to executive PSUs was $<span id="xdx_90A_eus-gaap--EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedShareBasedAwardsOtherThanOptions_iI_pn5n6_c20260331__us-gaap--AwardTypeAxis__us-gaap--PerformanceSharesMember__us-gaap--GranteeStatusAxis__custom--ShareBasedPaymentArrangementExecutiveMember_zo1tT03WUK2d" title="Unrecognized share based compensation">0.5 million, which will be expensed over the next <span id="xdx_90C_eus-gaap--EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1_dtY_c20260101__20260331__us-gaap--AwardTypeAxis__us-gaap--PerformanceSharesMember__us-gaap--GranteeStatusAxis__custom--ShareBasedPaymentArrangementExecutiveMember_zX3qjVZPzSF5" title="Unrecognized share-based compensation, period for recognition">0.2 years, of which $<span id="xdx_900_eus-gaap--EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized_iI_pn5n6_c20260331__us-gaap--AwardTypeAxis__us-gaap--PerformanceSharesMember__us-gaap--GranteeStatusAxis__custom--ShareBasedPaymentArrangementExecutiveMember_zxgcNedbJDRk" title="Unrecognized share-based compensation">0.1 million relates to shares probable to vest.

<p id="xdx_89B_eus-gaap--ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock_zsPveCFV7uEe" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">The following table summarizes the amount of share-based compensation expense by line item on the condensed consolidated statements of operations: SCHEDULE OF SHARE-BASED COMPENSATION EXPENSE <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="display: none; vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_492_20260101__20260331_zncXQOZsq7M3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20250101__20250331_zB9oOEWU1h46" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="6" style="font-weight: bold; text-align: center">Three Months Ended</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">March 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">Share-based compensation expense</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40D_eus-gaap--AllocatedShareBasedCompensationExpense_pn3n3_hus-gaap--StatementOfIncomeLocationBalanceAxis__us-gaap--ResearchAndDevelopmentExpense_zWiYU4JoRBz4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Research and development expense</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">227</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">508</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--AllocatedShareBasedCompensationExpense_pn3n3_hus-gaap--StatementOfIncomeLocationBalanceAxis__us-gaap--SellingGeneralAndAdministrativeExpense_z7A8CHau9bsg" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Sales, marketing, general and administrative expense</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">756</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,413</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--AllocatedShareBasedCompensationExpense_pn3n3_hus-gaap--StatementOfIncomeLocationBalanceAxis__us-gaap--ShareBasedCompensationExpense_zvz1e3x9Ep1e" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Total Share-based compensation expense</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">983</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,921</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

227000

508000

756000

1413000

983000

1921000

<p id="xdx_89D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAndExercisableTableTextBlock_z97skRheSVMa" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify">The following table summarizes shares, weighted-average exercise price, weighted-average remaining contractual term, and aggregate intrinsic value of options outstanding and options exercisable as of March 31, 2026 (in thousands, except per share data): SCHEDULE OF OPTIONS ACTIVITY AND POSITIONS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 90%; margin-right: auto"> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Weighted- </td><td style="font-weight: bold"> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Weighted- Average</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Average Remaining</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Aggregate</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold">Options</td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Exercise</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Contractual</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Intrinsic</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Shares</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Price</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Term (years)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Value</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 36%">Outstanding as of March 31, 2026</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iE_pn3n3_c20260101__20260331__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zIYRYG3XEQBk" style="width: 12%; text-align: right" title="Shares outstanding">602</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iI_pid_c20260331__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zauUyE9N8yu2" style="width: 12%; text-align: right" title="Weighted average exercise price, outstanding">1.40</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right"><span id="xdx_900_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20260101__20260331__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zk1piOwsGHte" title="Weighted average remaining contractual term (years), outstanding">1.8</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iE_pn3n3_c20260101__20260331__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zbN69cLJbMWk" style="width: 12%; text-align: right" title="Aggregate intrinsic value, outstanding">5</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Exercisable as of March 31, 2026</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_iE_pn3n3_c20260101__20260331__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_z75XMvvliz4c" style="text-align: right" title="Shares exercisable">602</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice_iI_pid_c20260331__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zpeDUhWeztJl" style="text-align: right" title="Weighted average exercise price exercisable">1.40</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90C_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1_dtY_c20260101__20260331__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zUemlmoKjP8k" title="Weighted average remaining contractual term (years), exercisable">1.8</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_989_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1_iE_c20260101__20260331__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zqkXnp3FqvWc" style="text-align: right" title="Aggregate intrinsic value, exercisable">5</td><td style="text-align: left"> </td></tr> </table>

602000

1.40

P1Y9M18D

5000

602000

1.40

P1Y9M18D

5000

The following table summarizes activity and positions with respect to RSUs and PSUs for the three months ended March 31, 2026 (in thousands, except per share data): SCHEDULE OF ACTIVITY AND POSITIONS WITH RESPECT TO RSUs AND PSUs <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Weighted-average</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Shares</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">price</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%">Unvested as of December 31, 2025</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iS_pn3n3_c20260101__20260331_zvEoPjJo3HJ3" style="width: 16%; text-align: right" title="Shares, unvested">9,862</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iS_pid_c20260101__20260331_zD0qg52ZYK7l" style="width: 16%; text-align: right" title="Weighted average price, unvested">1.24</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_pn3n3_c20260101__20260331_z0OpJ9TCwdXd" style="text-align: right" title="Shares granted">49</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_pid_c20260101__20260331_zcOupJ4x4a4b" style="text-align: right" title="Weighted average price, granted">0.84</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Vested</td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_iN_di_c20260101__20260331_zizzDaonYhS8" style="text-align: right" title="Shares vested">(692</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue_pid_c20260101__20260331_zRBfJefbidIb" style="text-align: right" title="Weighted average price, vested">1.21</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Forfeited</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod_iN_pn3n3_di_c20260101__20260331_zBXs3g4WKEGk" style="border-bottom: Black 1pt solid; text-align: right" title="Shares forfeited">(2,122</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_982_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue_pid_c20260101__20260331_zMjaYofwpSV" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted average price, forfeited">1.38</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Unvested as of March 31, 2026</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"></td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iE_pn3n3_c20260101__20260331_zKwNK74fe8d5" style="border-bottom: Black 2.5pt double; text-align: right" title="Shares, unvested">7,097</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iE_pid_c20260101__20260331_zbzmMSx7nHy4" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted average price, unvested">1.20</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

9862000

1.24

49000

0.84

692000

1.21

2122000

1.38

7097000

1.20

49000

4400000

P1Y9M18D

500000

P0Y2M12D

100000

11. LEASES The Company leases office space and certain equipment under operating and finance leases. All leases have remaining lease terms of one to seven years. Office lease agreements include both lease and non-lease components, which are accounted for separately. Finance leases contain options to purchase the leased property. The depreciable life of assets and leasehold improvements are limited by the expected lease term, unless the Company is reasonably certain to exercise the purchase option. In September 2021, the Company entered into a lease agreement for product testing and lab space in Redmond, Washington which commenced in November 2021. In addition to base rent, the Company pays additional rent comprised of a proportionate share of any operating expenses, real estate taxes, and management fees. The lease, which <span id="xdx_90F_eus-gaap--LesseeOperatingLeaseDescription_c20210901__20210930__us-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--ProductTestingAndLabSpaceLeaseMember_zIkxMaTYmEJj" title="Lease expiration">expires in July 2032, includes an option to extend the term for one ten-year renewal period. In September 2021, the Company entered into a lease agreement for office space in Redmond, Washington which commenced in December 2022. In addition to base rent, the Company will pay additional rent comprised of a proportionate share of any operating expenses, real estate taxes, and management fees. The lease, which expires in December 2032, contains an option to extend the term for one ten-year renewal period. On April 21, 2025, the Company signed an agreement with a third party to sublease a portion of this office space. The sublease commenced on July 15, 2025 and provides monthly rent of $0.1 million. The sublease expires on April 1, 2030 and contains one 32-month extension option. In December 2023, the Company entered into a lease agreement for office space in Hamburg, Germany which commenced in November 2024. The lease, which expires in October 2029, includes an option to extend the term for two three-year renewal periods. In September 2025, the Company entered into a lease agreement for an airplane runway strip in Warrenton, Virginia which commenced in October 2025. In addition to base rent, the Company pays additional rent comprised of a proportionate share of any operating expenses and real estate taxes. The lease, which expires in September 2026, includes an option to extend the term for two one-year renewal periods. In November 2025, the Company entered into a lease agreement for office space in Chantilly, Virginia which commenced in January 2026. In addition to base rent, the Company pays additional rent comprised of a proportionate share of any operating expenses. The lease, which expires in February 2028, includes an option to extend the term for one five-year renewal period. In February 2026, the Company assumed a lease agreement for office space in Colorado Springs, Colorado from Luminar (see Note 4. Business Combinations). In addition to base rent, the Company pays additional rent comprised of a proportionate share of operating expenses. The lease, which expires on May 31, 2028, includes an option to extend the term for one three-year renewal period. Also in February 2026, the Company assumed a lease agreement on office and lab space in Orlando, Florida from Luminar. Subsequent to the date of these financial statements, on April 8, 2026, the Company extended the lease. The lease extension is scheduled to commence on July 1, 2026. In addition to base rent, the Company pays additional rent comprised of a proportionate share of operating expenses. The lease, which expires on July 30, 2029, includes an option to extend the term for one three-year renewal period. The components of lease expense are as follows: SCHEDULE OF COMPONENTS OF LEASE EXPENSE <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="display: none; vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; text-align: center; font-style: italic"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20260101__20260331_zWBDpRGpCPBh" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_498_20250101__20250331_zf5SEmIeYLY5" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="6" style="font-weight: bold; text-align: center">Three Months Ended</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">March 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-style: italic">(in thousands)</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_409_eus-gaap--OperatingLeaseCost_pn3n3_maLCzfMV_zrnYOS2vntRe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left; padding-bottom: 1pt">Operating lease expense</td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 16%; text-align: right">1,132</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 16%; text-align: right">859</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Finance lease expense:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--FinanceLeaseRightOfUseAssetAmortization_maFLCzWrI_zgmtkmXWorZg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Amortization of leased assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--FinanceLeaseInterestExpense_maFLCzWrI_z2UMuBDhEk53" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt">Interest on lease liabilities</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_406_ecustom--FinanceLeaseCost_iT_pn3n3_mtFLCzWrI_maLCzfMV_zVdwrizuAcNj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Total finance lease expense</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">3</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">3</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--SubleaseIncome_iN_pn3n3_di_msLCzfMV_zsyuuYqS39kg" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Sublease income</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(135</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--LeaseCost_iT_pn3n3_mtLCzfMV_zsWqYFg33L4j" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 2.5pt">Total lease expense</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">862</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Supplemental cash flow information related to leases was as follows: SCHEDULE OF CASH FLOW INFORMATION RELATED TO LEASES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="display: none; vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; text-align: center; font-style: italic"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20260101__20260331_zevJpChATVD9" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20250101__20250331_zYNPWOR8M2id" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="6" style="font-weight: bold; text-align: center">Three Months Ended</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">March 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-style: italic">(in thousands)</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Cash paid for amounts included in measurement of lease liabilities:</td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_408_eus-gaap--OperatingLeasePayments_pn3n3_zfL5aYz8Lso4" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; width: 60%; text-align: left">Operating cash flows from operating leases</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">1,086</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">554</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--FinanceLeaseInterestPaymentOnLiability_pn3n3_zBudkU1aJEp3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Operating cash flows from finance leases</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2</td><td style="text-align: left"> </td></tr> </table> Supplemental balance sheet information related to leases was as follows: SCHEDULE OF BALANCE SHEET INFORMATION RELATED TO LEASES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_498_20260331_zRbLgXRkGKdl" style="font-weight: bold; text-align: center">March 31,</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_492_20251231_zpqhPx0AKR0a" style="font-weight: bold; text-align: center">December 31,</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-style: italic">(in thousands)</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Operating leases</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--OperatingLeaseRightOfUseAsset_iI_pn3n3_zG8XCyjKhPwf" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; width: 60%; text-align: left; padding-bottom: 2.5pt">Operating lease right-of-use assets</td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; width: 16%; text-align: right">17,929</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; width: 16%; text-align: right">14,075</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--OperatingLeaseLiabilityCurrent_iI_pn3n3_maOLLzekF_zcb9JuFzCL26" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Current portion of operating lease liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,985</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,481</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--OperatingLeaseLiabilityNoncurrent_iI_pn3n3_maOLLzekF_zEYNc1BXdUrj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt">Operating lease liabilities, net of current portion</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">16,259</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">14,034</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--OperatingLeaseLiability_iTI_pn3n3_mtOLLzekF_zsfyiwxa99pe" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 2.5pt">Total operating lease liabilities</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">21,244</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">17,515</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortizationAbstract_iB_ztRnEY8vGtZ9" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Finance leases</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetBeforeAccumulatedDepreciationAndAmortization_i01I_pn3n3_maPPAENz8p0_zTz3jZX5MEx2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Property and equipment, at cost</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">159</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">157</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAccumulatedDepreciationAndAmortization_i01NI_pn3n3_di_msPPAENz8p0_zqFeqn7EPN21" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt">Accumulated depreciation</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(125</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(120</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_409_eus-gaap--PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization_i01TI_pn3n3_mtPPAENz8p0_zk4TayrPw8L9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 2.5pt">Property and equipment, net</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">34</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">37</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt">Weighted Average Remaining Lease Term</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 20pt; text-align: left">Operating leases</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5.0 years </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5.7 years </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 20pt; text-align: left">Finance leases</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2.2 years </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2.3 years </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt">Weighted Average Discount Rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 20pt; text-align: left">Operating leases</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5.7</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4.9</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 20pt; text-align: left">Finance leases</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5.5</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5.5</td><td style="text-align: left">%</td></tr> </table> As of March 31, 2025, maturities of lease liabilities were as follows: SCHEDULE OF MATURITIES OF LEASE LIABILITIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="vertical-align: bottom"> <td style="text-align: left; font-style: italic">(in thousands)</td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Operating</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Finance</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; text-align: left; font-weight: bold">Years Ended December 31,</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Leases</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Leases</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">2026 (remainder of the year)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_987_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear_iI_pn3n3_c20260331_z4Zf0wmNP325" style="width: 16%; text-align: right" title="Operating leases, 2026 (remainder of the year)">3,931</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_983_eus-gaap--FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear_iI_pn3n3_c20260331_zK1MxCWi6fpi" style="width: 16%; text-align: right" title="Finance leases, 2026 (remainder of the year)">12</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">2027</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths_iI_pn3n3_c20260331_zTeEbogTLML6" style="text-align: right" title="Operating leases, 2027">5,166</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eus-gaap--FinanceLeaseLiabilityPaymentsDueNextTwelveMonths_iI_pn3n3_c20260331_ziw3T3yRxRg9" style="text-align: right" title="Finance leases, 2027">15</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">2028</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearTwo_iI_pn3n3_c20260331_zs2IJjezYNm7" style="text-align: right" title="Operating leases, 2028">5,009</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--FinanceLeaseLiabilityPaymentsDueYearTwo_iI_pn3n3_c20260331_zO3zOOIaAPJ4" style="text-align: right" title="Finance leases, 2028">7</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">2029</td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearThree_iI_pn3n3_c20260331_zxEfxi7y3cYf" style="text-align: right" title="Operating leases, 2029">4,092</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--FinanceLeaseLiabilityPaymentsDueYearThree_iI_pn3n3_c20260331_zmV7W0rgYAD2" style="text-align: right" title="Finance leases, 2029">5</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">2030</td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearFour_iI_pn3n3_c20260331_zrLlbol9OJn5" style="text-align: right" title="Operating leases, 2030">2,225</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--FinanceLeaseLiabilityPaymentsDueYearFour_iI_pn3n3_c20260331_zKoQLEh6pkZ8" style="text-align: right" title="Finance leases, 2030">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Thereafter</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_984_ecustom--LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour_iI_pn3n3_c20260331_zfecDRyzIthg" style="border-bottom: Black 1pt solid; text-align: right" title="Operating leases, Thereafter">3,682</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_987_ecustom--FinanceLeaseLiabilityPaymentsDueAfterYearFour_iI_pn3n3_c20260331_zCCNrAUuKKMj" style="border-bottom: Black 1pt solid; text-align: right" title="Finance leases, Thereafter">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Total minimum lease payments</td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDue_iI_pn3n3_c20260331_zjEhg4rvyisf" style="text-align: right" title="Operating leases, Total minimum lease payments">24,105</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eus-gaap--FinanceLeaseLiabilityPaymentsDue_iI_pn3n3_c20260331_zMXyIbUgiabf" style="text-align: right" title="Finance leases, Total minimum lease payments">39</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Less: amount representing interest</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98E_eus-gaap--LesseeOperatingLeaseLiabilityUndiscountedExcessAmount_iNI_pn3n3_di_c20260331_zI5UGEGTwFf7" style="border-bottom: Black 1pt solid; text-align: right" title="Less: Operating leases, amount representing interest">(2,861</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_985_eus-gaap--FinanceLeaseLiabilityUndiscountedExcessAmount_iNI_pn3n3_di_c20260331_zsOHeN4XhAId" style="border-bottom: Black 1pt solid; text-align: right" title="Less: Finance leases, amount representing interest">(5</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Present value of lease liabilities</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98C_eus-gaap--OperatingLeaseLiability_iI_pn3n3_c20260331_zfxucVOiKb2f" style="border-bottom: Black 2.5pt double; text-align: right" title="Operating leases, Present value of capital lease liabilities">21,244</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98A_eus-gaap--FinanceLeaseLiability_iI_pn3n3_c20260331_z7eVyTLxFKo8" style="border-bottom: Black 2.5pt double; text-align: right" title="Finance leases, Present value of capital lease liabilities">34</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

expires in July 2032

100000

one 32-month extension option

expires in October 2029

option to extend the term for two three-year renewal periods.

expires in September 2026

option to extend the term for two one-year renewal periods

expires in February 2028

option to extend the term for one five-year renewal period.

expires on May 31, 2028

option to extend the term for one three-year renewal period

expires on July 30, 2029

option to extend the term for one three-year renewal period

The components of lease expense are as follows: SCHEDULE OF COMPONENTS OF LEASE EXPENSE <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="display: none; vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; text-align: center; font-style: italic"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20260101__20260331_zWBDpRGpCPBh" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_498_20250101__20250331_zf5SEmIeYLY5" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="6" style="font-weight: bold; text-align: center">Three Months Ended</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">March 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-style: italic">(in thousands)</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_409_eus-gaap--OperatingLeaseCost_pn3n3_maLCzfMV_zrnYOS2vntRe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left; padding-bottom: 1pt">Operating lease expense</td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 16%; text-align: right">1,132</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 16%; text-align: right">859</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Finance lease expense:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--FinanceLeaseRightOfUseAssetAmortization_maFLCzWrI_zgmtkmXWorZg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Amortization of leased assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--FinanceLeaseInterestExpense_maFLCzWrI_z2UMuBDhEk53" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt">Interest on lease liabilities</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_406_ecustom--FinanceLeaseCost_iT_pn3n3_mtFLCzWrI_maLCzfMV_zVdwrizuAcNj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Total finance lease expense</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">3</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">3</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--SubleaseIncome_iN_pn3n3_di_msLCzfMV_zsyuuYqS39kg" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Sublease income</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(135</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--LeaseCost_iT_pn3n3_mtLCzfMV_zsWqYFg33L4j" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 2.5pt">Total lease expense</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,000</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">862</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

1132000

859000

3000

2000

1000

3000 3000

135000

1000000

862000

Supplemental cash flow information related to leases was as follows: SCHEDULE OF CASH FLOW INFORMATION RELATED TO LEASES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="display: none; vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; text-align: center; font-style: italic"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20260101__20260331_zevJpChATVD9" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20250101__20250331_zYNPWOR8M2id" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="text-align: center; padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="6" style="font-weight: bold; text-align: center">Three Months Ended</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">March 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-style: italic">(in thousands)</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Cash paid for amounts included in measurement of lease liabilities:</td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_408_eus-gaap--OperatingLeasePayments_pn3n3_zfL5aYz8Lso4" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; width: 60%; text-align: left">Operating cash flows from operating leases</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">1,086</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">554</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--FinanceLeaseInterestPaymentOnLiability_pn3n3_zBudkU1aJEp3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Operating cash flows from finance leases</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2</td><td style="text-align: left"> </td></tr> </table>

1086000

554000

3000

2000

Supplemental balance sheet information related to leases was as follows: SCHEDULE OF BALANCE SHEET INFORMATION RELATED TO LEASES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_498_20260331_zRbLgXRkGKdl" style="font-weight: bold; text-align: center">March 31,</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_492_20251231_zpqhPx0AKR0a" style="font-weight: bold; text-align: center">December 31,</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-style: italic">(in thousands)</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Operating leases</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--OperatingLeaseRightOfUseAsset_iI_pn3n3_zG8XCyjKhPwf" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; width: 60%; text-align: left; padding-bottom: 2.5pt">Operating lease right-of-use assets</td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; width: 16%; text-align: right">17,929</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; width: 16%; text-align: right">14,075</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--OperatingLeaseLiabilityCurrent_iI_pn3n3_maOLLzekF_zcb9JuFzCL26" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left">Current portion of operating lease liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,985</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,481</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--OperatingLeaseLiabilityNoncurrent_iI_pn3n3_maOLLzekF_zEYNc1BXdUrj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt">Operating lease liabilities, net of current portion</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">16,259</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">14,034</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--OperatingLeaseLiability_iTI_pn3n3_mtOLLzekF_zsfyiwxa99pe" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 2.5pt">Total operating lease liabilities</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">21,244</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">17,515</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortizationAbstract_iB_ztRnEY8vGtZ9" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Finance leases</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetBeforeAccumulatedDepreciationAndAmortization_i01I_pn3n3_maPPAENz8p0_zTz3jZX5MEx2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Property and equipment, at cost</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">159</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">157</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAccumulatedDepreciationAndAmortization_i01NI_pn3n3_di_msPPAENz8p0_zqFeqn7EPN21" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 1pt">Accumulated depreciation</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(125</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(120</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_409_eus-gaap--PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization_i01TI_pn3n3_mtPPAENz8p0_zk4TayrPw8L9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left; padding-bottom: 2.5pt">Property and equipment, net</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">34</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">37</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt">Weighted Average Remaining Lease Term</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 20pt; text-align: left">Operating leases</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5.0 years </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5.7 years </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 20pt; text-align: left">Finance leases</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2.2 years </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2.3 years </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt">Weighted Average Discount Rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 20pt; text-align: left">Operating leases</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5.7</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4.9</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 20pt; text-align: left">Finance leases</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5.5</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5.5</td><td style="text-align: left">%</td></tr> </table>

17929000

14075000

4985000

3481000

16259000

14034000

21244000

17515000

159000

157000

125000

120000

34000

37000

P5Y

P5Y8M12D

P2Y2M12D

P2Y3M18D

0.057

0.049

0.055

As of March 31, 2025, maturities of lease liabilities were as follows: SCHEDULE OF MATURITIES OF LEASE LIABILITIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="vertical-align: bottom"> <td style="text-align: left; font-style: italic">(in thousands)</td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Operating</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">Finance</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; text-align: left; font-weight: bold">Years Ended December 31,</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Leases</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Leases</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">2026 (remainder of the year)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_987_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear_iI_pn3n3_c20260331_z4Zf0wmNP325" style="width: 16%; text-align: right" title="Operating leases, 2026 (remainder of the year)">3,931</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_983_eus-gaap--FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear_iI_pn3n3_c20260331_zK1MxCWi6fpi" style="width: 16%; text-align: right" title="Finance leases, 2026 (remainder of the year)">12</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">2027</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths_iI_pn3n3_c20260331_zTeEbogTLML6" style="text-align: right" title="Operating leases, 2027">5,166</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eus-gaap--FinanceLeaseLiabilityPaymentsDueNextTwelveMonths_iI_pn3n3_c20260331_ziw3T3yRxRg9" style="text-align: right" title="Finance leases, 2027">15</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">2028</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearTwo_iI_pn3n3_c20260331_zs2IJjezYNm7" style="text-align: right" title="Operating leases, 2028">5,009</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--FinanceLeaseLiabilityPaymentsDueYearTwo_iI_pn3n3_c20260331_zO3zOOIaAPJ4" style="text-align: right" title="Finance leases, 2028">7</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">2029</td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearThree_iI_pn3n3_c20260331_zxEfxi7y3cYf" style="text-align: right" title="Operating leases, 2029">4,092</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--FinanceLeaseLiabilityPaymentsDueYearThree_iI_pn3n3_c20260331_zmV7W0rgYAD2" style="text-align: right" title="Finance leases, 2029">5</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">2030</td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearFour_iI_pn3n3_c20260331_zrLlbol9OJn5" style="text-align: right" title="Operating leases, 2030">2,225</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--FinanceLeaseLiabilityPaymentsDueYearFour_iI_pn3n3_c20260331_zKoQLEh6pkZ8" style="text-align: right" title="Finance leases, 2030">-</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Thereafter</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_984_ecustom--LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour_iI_pn3n3_c20260331_zfecDRyzIthg" style="border-bottom: Black 1pt solid; text-align: right" title="Operating leases, Thereafter">3,682</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_987_ecustom--FinanceLeaseLiabilityPaymentsDueAfterYearFour_iI_pn3n3_c20260331_zCCNrAUuKKMj" style="border-bottom: Black 1pt solid; text-align: right" title="Finance leases, Thereafter">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Total minimum lease payments</td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDue_iI_pn3n3_c20260331_zjEhg4rvyisf" style="text-align: right" title="Operating leases, Total minimum lease payments">24,105</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eus-gaap--FinanceLeaseLiabilityPaymentsDue_iI_pn3n3_c20260331_zMXyIbUgiabf" style="text-align: right" title="Finance leases, Total minimum lease payments">39</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Less: amount representing interest</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98E_eus-gaap--LesseeOperatingLeaseLiabilityUndiscountedExcessAmount_iNI_pn3n3_di_c20260331_zI5UGEGTwFf7" style="border-bottom: Black 1pt solid; text-align: right" title="Less: Operating leases, amount representing interest">(2,861</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_985_eus-gaap--FinanceLeaseLiabilityUndiscountedExcessAmount_iNI_pn3n3_di_c20260331_zsOHeN4XhAId" style="border-bottom: Black 1pt solid; text-align: right" title="Less: Finance leases, amount representing interest">(5</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Present value of lease liabilities</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98C_eus-gaap--OperatingLeaseLiability_iI_pn3n3_c20260331_zfxucVOiKb2f" style="border-bottom: Black 2.5pt double; text-align: right" title="Operating leases, Present value of capital lease liabilities">21,244</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98A_eus-gaap--FinanceLeaseLiability_iI_pn3n3_c20260331_z7eVyTLxFKo8" style="border-bottom: Black 2.5pt double; text-align: right" title="Finance leases, Present value of capital lease liabilities">34</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

3931000

12000

5166000

15000

5009000

7000

4092000

5000

2225000

3682000

24105000

39000

2861000

5000

21244000

34000

12. COMMITMENTS AND CONTINGENCIES Purchase Commitments During the quarter ended September 30, 2023, the Company entered into a $<span id="xdx_906_eus-gaap--PurchaseCommitmentRemainingMinimumAmountCommitted_iI_pn5n6_c20230930__us-gaap--PurchaseCommitmentExcludingLongtermCommitmentAxis__custom--ContractManufacturingPartnerMember_zkqCq2UeYHW" title="Purchase commitments">9.3 million purchase commitment with a contract manufacturing partner for the production of MOVIA L sensor inventory to support direct sales to both automotive and non-automotive customers. During the quarter ended December 31, 2024, the Company entered into an additional purchase commitment with the existing contract manufacturing partner of $<span id="xdx_908_eus-gaap--PurchaseCommitmentRemainingMinimumAmountCommitted_iI_pn5n6_c20241231__us-gaap--PurchaseCommitmentExcludingLongtermCommitmentAxis__custom--ContractManufacturingPartnerMember_zgw0SEOm3sCk" title="Purchase commitments">1.8 million. As of March 31, 2026, the Company had open purchase commitments to the partner of $2.3 million that were included within the adverse purchase commitment record within accrued liabilities on the consolidated balance sheets. See Note 9. Financial Statement Components for additional discussion. Litigation The Company is subject to various claims and pending or threatened lawsuits in the normal course of business. The Company is not currently party to any legal proceedings that management believes are reasonably possible to have a material adverse effect on financial position, results of operations, or cash flows.

9300000

1800000

2300000

13. COMMON STOCK In March 2024, the Company entered into a $<span id="xdx_900_eus-gaap--StockIssuedDuringPeriodValueNewIssues_pn6n6_c20240301__20240331__us-gaap--TypeOfArrangementAxis__custom--AtmEquityOfferingAgreementMember__srt--TitleOfIndividualAxis__custom--AgentsMember_zIP8mUv1BXXg" title="Share issued value">150 million ATM equity offering agreement with Deutsche Bank Securities, Inc., Mizuho Securities USA LLC, and Craig-Hallum Capital Group LLC (collectively, the “Agents”). Under the agreement, the Company is able, with discretion, to offer and sell shares of common stock having an aggregate value of up to $<span id="xdx_90C_eus-gaap--StockIssuedDuringPeriodValueNewIssues_pn5n6_c20240301__20240331__us-gaap--TypeOfArrangementAxis__custom--AtmEquityOfferingAgreementMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__srt--TitleOfIndividualAxis__custom--AgentsMember_z8huEctoVRkh" title="Stock issued during period">150.0 million through or directly to the Agents. As of March 31, 2026, the sale of <span id="xdx_906_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_pn5n6_c20260101__20260331__us-gaap--TypeOfArrangementAxis__custom--AtmEquityOfferingAgreementMember__srt--TitleOfIndividualAxis__custom--AgentsMember_zFNrcTgHFO81" title="Share issued">80.6 million shares for net proceeds of $<span id="xdx_901_eus-gaap--StockIssuedDuringPeriodValueNewIssues_pn5n6_c20260101__20260331__us-gaap--TypeOfArrangementAxis__custom--AtmEquityOfferingAgreementMember__srt--TitleOfIndividualAxis__custom--AgentsMember_zE1lc8SLye0l" title="Stock issued during period">104.0 million had been completed. As of March 31, 2026, approximately $<span id="xdx_901_eus-gaap--StockIssuedDuringPeriodValueNewIssues_pn5n6_c20260101__20260331__us-gaap--TypeOfArrangementAxis__custom--AtmEquityOfferingAgreementMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__srt--TitleOfIndividualAxis__custom--AgentsMember_zdS40OYPhA5j" title="Share issued value">42.0 million is available under this sales agreement, subject to authorized shares available for sale.

150000000

150000000.0

80600000

104000000.0

42000000.0

14. INCOME TAXES The Company recognized income tax expense of $0.2 million and $0.1 million during the three months ended March 31, 2026 and 2025, respectively. As of March 31, 2026, the Company continues to have no unrecognized tax positions.

200000

100000

15. RESTRUCTURING CHARGES On February 27, 2026, the Company committed to a plan to consolidate its Redmond, Washington-based engineering, manufacturing, supply chain, and quality activities into the Company’s new Orlando, Florida facility (the “Consolidation Plan”). The decision is part of the Company’s ongoing efforts to reduce operating expenses and cash usage, improve organizational efficiency, and align resources to support strategic priorities. In connection with the Consolidation Plan, in order to reduce operating expenses, during the first quarter of 2026 the Company commenced plans to reduce its Redmond-based workforce resulting in an approximately 15% reduction in the Company’s total global workforce. The reduction is expected to be substantially completed by the end of the second quarter of 2026. As a result, during the first quarter of 2026, the Company recognized approximately $1.1 million in charges associated with employee severance and related employee costs, as well as non-cash share-based compensation expense, which is recorded within research and development expense and sales, marketing, general and administrative expense on the consolidated statements of operations. Approximately $1.1 million was unpaid and included within accrued liabilities as of March 31, 2026.

0.15

1100000

false false false false The bargain purchase gain represents the excess of the fair value of the underlying net assets acquired over the purchase consideration and is included in bargain purchase gain in the condensed consolidated statements of operations. The bargain purchase gain was attributable to the negotiation process with Scantinel during its insolvency proceedings resulting in cash consideration paid being less than the fair value of the net assets.