Stock-Based Compensation Expense (Tables)
|
6 Months Ended |
Jun. 30, 2026 |
|---|
| Share-Based Payment Arrangement [Abstract] |
|
| Stock Based Compensation Expense Recognized in Condensed Consolidated Statements of Operations |
Total stock-based compensation expense recognized in the condensed consolidated statements of operations is included in the following categories (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months
Ended June 30, |
|
|
Six Months
Ended June 30, |
|
|
2026 |
|
|
2025 |
|
|
2026 |
|
|
2025 |
|
Cost of goods sold |
$ |
302 |
|
|
$ |
91 |
|
|
$ |
546 |
|
|
$ |
208 |
|
Cost of revenue – collaborations and services |
|
985 |
|
|
|
979 |
|
|
|
1,836 |
|
|
|
1,874 |
|
Research and development |
|
1,106 |
|
|
|
952 |
|
|
|
1,622 |
|
|
|
1,651 |
|
Selling, general and administrative |
|
7,833 |
|
|
|
5,498 |
|
|
|
12,677 |
|
|
|
9,172 |
|
Total |
$ |
10,226 |
|
|
$ |
7,520 |
|
|
$ |
16,681 |
|
|
$ |
12,905 |
|
Total stock-based compensation expense recognized in the condensed consolidated statements of operations was as follows (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months
Ended June 30, |
|
|
Six Months
Ended June 30, |
|
|
2026 |
|
|
2025 |
|
|
2026 |
|
|
2025 |
|
RSUs and options |
$ |
9,957 |
|
|
$ |
7,357 |
|
|
$ |
16,119 |
|
|
$ |
12,569 |
|
Employee stock purchase plan |
|
269 |
|
|
|
163 |
|
|
|
562 |
|
|
|
336 |
|
Total |
$ |
10,226 |
|
|
$ |
7,520 |
|
|
$ |
16,681 |
|
|
$ |
12,905 |
|
|
| Summary of Restricted Stock Unit Activity |
The following table summarizes information pertaining to RSUs:
|
|
|
|
|
|
|
|
|
|
|
Number of
Shares |
|
|
Weighted
Average
Grant Date
Fair Value
per Share |
|
Outstanding as of January 1, 2026 |
|
|
16,485,829 |
|
|
$ |
5.82 |
|
Granted |
|
|
3,302,156 |
|
|
|
4.84 |
|
Vested |
|
|
(990,798 |
) |
|
|
4.01 |
|
Forfeited |
|
|
(721,729 |
) |
|
|
5.17 |
|
Outstanding as of June 30, 2026 |
|
|
18,075,458 |
|
|
|
5.76 |
|
|
| Summary of Options Outstanding |
The following table summarizes information pertaining to options:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Number of
Shares |
|
|
Weighted
Average Exercise
Price per Share |
|
|
Weighted
Average
Remaining
Contractual
Term
(Years) |
|
|
Aggregate
Intrinsic
Value ($000) |
|
Outstanding as of January 1, 2026 |
|
|
5,370,220 |
|
|
$ |
1.66 |
|
|
|
2.36 |
|
|
$ |
21,522 |
|
Granted |
|
|
7,778,380 |
|
|
|
2.44 |
|
|
|
|
|
|
|
Exercised |
|
|
(332,261 |
) |
|
|
1.66 |
|
|
|
|
|
|
|
Forfeited |
|
|
(335,916 |
) |
|
|
2.44 |
|
|
|
|
|
|
|
Expired |
|
|
(156,948 |
) |
|
|
3.65 |
|
|
|
|
|
|
|
Outstanding as of June 30, 2026 |
|
|
12,323,475 |
|
|
$ |
2.11 |
|
|
|
6.67 |
|
|
$ |
26,550 |
|
Exercisable as of June 30, 2026 |
|
|
4,876,011 |
|
|
$ |
1.59 |
|
|
|
1.99 |
|
|
$ |
12,995 |
|
|
| Summary of Key Assumptions Used to Value Stock Option Awards Granted |
The following table summarizes the key assumptions used by the Company to value the stock option awards granted during the six months ended June 30, 2026. The Company did not grant options during the six months ended June 30, 2025.
|
|
|
|
|
|
|
Six Months
Ended June 30, |
|
Fair value of common stock |
|
$ |
2.44 |
|
Expected term (years) |
|
|
6.50 |
|
Volatility |
|
|
58.51 |
% |
Interest rate |
|
|
3.88 |
% |
|