v3.26.1
Stock-Based Compensation (Tables)
 3 Months Ended
Mar. 31, 2026
Stock Based Compensation [Line Items]  
Summary of Company's stock option activity
The following table summarizes the Company’s stock option activity (in thousands, except share and per share amounts):
 
 
  
Number of
Options
 
  
Weighted Avg
Exercise Price
 
  
Weighted Avg
Remaining
Contractual Life
(Years)
 
  
Aggregate
Intrinsic Value
(in thousands)
 
Outstanding as of December 31, 2025
  
 
31,294,637
 
  
$
0.66
 
  
 
6.29
 
  
$
203,535
 
Granted
  
 
4,747,467
 
  
 
13.22
 
  
  
Exercised
  
 
(1,115,549
) 
  
 
0.70
 
  
  
Forfeited/Cancelled
  
 
(352,526
) 
  
 
6.63
 
  
  
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
Outstanding as of March 31, 2026
  
 
34,574,029
 
  
$
2.33
 
  
 
6.91
 
  
$
274,381
 
  
 
 
 
  
 
 
 
  
 
 
 
  
 
 
 
 
  
As of March 31, 2026
 
Exercisable
  
 
25,064,895
 
  
$
0.65
 
  
 
6.15
 
  
$
230,164
 
Summary of the restricted stock awards
The table below presents the activity of the restricted stock awards (“RSAs”):
 
  
RSAs

Outstanding
 
  
Weighted Average
Grant Date Fair
Value
 
Unvested as of December 31, 2025
  
 
419,590
 
  
$
0.89
 
Granted
  
 
— 
 
  
 
— 
 
Vested
  
 
(179,825
) 
  
 
0.89
 
Forfeited
  
 
— 
 
  
 
— 
 
  
 
 
 
  
 
 
 
Unvested as of March 31, 2026
  
 
239,765
 
  
$
0.89
 
  
 
 
 
  
 
 
Summary of Total stock-based compensation expense
Total stock-based compensation expense is included within the condensed consolidated statement of operations and comprehensive loss as follows (in thousands):
 
 
  
Three Months Ended March 31,
 
 
  
2026
 
  
2025
 
Cost of revenue
    $ 1,017      $ 92  
Research and development
      2,414        72  
Selling, general and administrative
      4,862        954  
  
 
 
     
 
 
  
Total stock-based compensation expense
   
$
8,293
 
   
$
1,118