v3.26.1
Stock Compensation Plan (Tables)
 12 Months Ended
Dec. 31, 2025
Stock Compensation Plan  
Schedule of Company's Stock Options

The following table sets forth the activity for the Company’s stock options during the periods presented:

 

 

Number
of Options

 

 

Weighted-
Average
Exercise
Price
per Share

 

 

Weighted
Average
Remaining
Contractual
Term
(in Years)

 

 

Aggregate
Intrinsic
Value

 

Outstanding as of December 31, 2023

 

 

2,766,000

 

 

$

1.91

 

 

 

8.4

 

 

$

231,000

 

Forfeited

 

 

(35,000

)

 

$

2.00

 

 

 

 

 

 

 

Outstanding as of December 31, 2024

 

 

2,731,000

 

 

$

1.90

 

 

 

7.4

 

 

$

7,171,930

 

Granted

 

 

205,000

 

 

$

6.16

 

 

 

 

 

 

 

Exercised

 

 

(1,708,000

)

 

$

1.85

 

 

 

 

 

 

 

Forfeited

 

 

(420,000

)

 

$

2.00

 

 

 

 

 

 

 

Outstanding as of December 31, 2025

 

 

808,000

 

 

$

3.06

 

 

 

7.3

 

 

$

2,020,050

 

Exercisable as of December 31, 2025

 

 

612,716

 

 

$

2.07

 

 

 

6.5

 

 

$

2,020,050

 

Vested or expected to vest as of December 31, 2025

 

 

808,000

 

 

$

3.06

 

 

 

7.3

 

 

$

2,020,050

 
There were 205,000 options granted with a weighted average grant date fair value of $3.53 in the year ended December 31, 2025.
Schedule of Summarizes Vesting of Restricted Common Stock

The following table summarizes awards and vesting of restricted common stock:

 

 

Number of
Shares

 

 

Weighted
Average Grant
Date
Fair Value
Per Share

 

Unvested as of December 31, 2023

 

 

4,489,186

 

 

$

1.42

 

Granted

 

 

2,523,554

 

 

$

3.79

 

Vested

 

 

(3,873,037

)

 

$

1.76

 

Forfeited and retired

 

 

(325,000

)

 

$

1.19

 

Unvested as of December 31, 2024

 

 

2,814,703

 

 

$

3.24

 

Granted

 

 

4,275,967

 

 

$

6.77

 

Vested

 

 

(2,920,715

)

 

$

4.93

 

Unvested as of December 31, 2025

 

 

4,169,955

 

 

$

5.68

 

 
Schedule of Stock-Based Compensation Expense

Stock-based compensation expense for all stock awards recognized in the accompanying consolidated statements of operations is as follows (in thousands):

 

 

 

Year Ended December 31,

 

 

 

2025

 

 

2024

 

Selling, general and administrative

 

$

15,788

 

 

$

8,231

 

Research and development

 

 

236

 

 

 

330

 

Total

 

$

16,024

 

 

$

8,561