v3.26.1
Stock-Based Compensation (Tables)
3 Months Ended 12 Months Ended
Mar. 31, 2026
Dec. 31, 2025
Share-Based Payment Arrangement [Abstract]    
Summary of Stock Option Activity

A summary of stock option activity under the 2021 Equity Incentive Plan (“Plan”) during the three months ended March 31, 2026 is as follows:

 

   Shares Underlying Options   Weighted Average Exercise Price   Weighted Average Remaining Contractual Term (in years)   Intrinsic Value 
Outstanding at December 31, 2025   628   $6,874.80    8.64   $ 
Forfeited       1,170.00         
Outstanding at March 31, 2026   628    6,901.20    8.40     
Exercisable at March 31, 2026   203   $12,959.60    7.90   $ 

A summary of stock option activity under the Plan is as follows:

 

  

Shares

Underlying

Options

  

Weighted

Average

Exercise Price

  

Weighted

Average

Remaining

Contractual

Term (in years)

  

Intrinsic

Value

 
Outstanding at December 31, 2024   129   $32,366.00    8.52   $ 
Granted   503    4,209.00         
Expired   (2)   49,593.20         
Forfeited   (3)   34,009.40         
Outstanding at December 31, 2025   627   $6,874.80    8.64     
Exercisable at December 31, 2025   196   $12,206.99    8.15   $ 
Summary of Activity with Respect Status of, RSUs

 

   Units   Weighted Average Grant Date Fair Value 
Outstanding at December 31, 2025   20,695   $149.00 
Granted   44,557    21.96 
Vested   (38,304)   36.84 
Forfeited   (240)   206.00 
Outstanding at March 31, 2026   26,708   $71.77 

A summary of the activity with respect to, and status of, RSUs during the year ended December 31, 2025 is presented below:

 Summary of Activity with Respect Status of, RSUs

   Units  

Weighted Average

Grant Date Fair

Value

 
Outstanding at December 31, 2024   1,704   $348.00 
Granted   29,777    140.60 
Vested   (10,048)   238.20 
Forfeited   (738)   169.80 
Outstanding at December 31, 2025   20,695   $149.00 
Summary of Assumptions Used to Compute Fair Value  

The following table summarizes assumptions used to compute the fair value of options granted:

 

    Year Ended December 31, 
    2025    2024 
Stock price   N/A   $2,920.00 - 6,100.00 
Exercise price   N/A   $2,920.00 - 50,000.00 
Expected volatility   N/A    61.00 - 62.12%
Expected term (in years)   N/A    5.61 - 6.08 
Risk-free interest rate   N/A    4.20 - 4.45%