v3.26.1
PREFERRED STOCK AND WARRANTS (Tables)
6 Months Ended
Jun. 30, 2026
PREFERRED STOCK AND WARRANTS  
Schedule of key assumptions used to determine the fair value of warrants

June 30, 

December 31, 

2026

2025

Stock price

$

2.34

$

2.88

Strike price

$

3.77

$

3.77

Risk-free rate

 

4.00

%

 

3.48

%

Volatility

 

67.7

%

 

50.7

%

Dividend yield

 

0.0

%

 

0.0

%

Time to expiration (years)

 

0.8

 

1.2

Fair value of warrant per share

$

0.22

$

0.41

Schedule of fair value of preferred stock and warrants

The changes in the Company’s warrant liabilities for the six months ended June 30, 2026 and 2025 were as follows (in thousands):

Six months ended

June 30, 

June 30, 

2026

2025

Balance at beginning of year

$

1,919

$

8,064

Exercise of warrants

(150)

Fair value change

 

(912)

 

(1,641)

Balance at end of period

$

1,007

$

6,273