Stock-Based Compensation (Tables)
|
6 Months Ended |
Jun. 30, 2026 |
|---|
| Share-Based Payment Arrangement [Abstract] |
|
| Summary of Stock Option Activity |
The following table summarizes the Company’s stock option activity for the six months ended June 30, 2026:
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|
Number of
Shares |
|
|
Weighted-
Average
Exercise
Price per
share |
|
|
Weighted-
Average
Remaining
Contractual
Term
(in years) |
|
|
Aggregate
Intrinsic
Value
(in thousands) |
|
Balance at December 31, 2025 |
|
6,287,477 |
|
|
$ |
12.23 |
|
|
|
8.62 |
|
|
$ |
113,839 |
|
Granted |
|
2,160,087 |
|
|
|
28.44 |
|
|
|
|
|
|
|
Exercised |
|
(228,493 |
) |
|
|
10.51 |
|
|
|
|
|
|
|
Forfeited |
|
(188,615 |
) |
|
|
21.43 |
|
|
|
|
|
|
|
Options outstanding at June 30, 2026 |
|
8,030,456 |
|
|
$ |
16.43 |
|
|
|
8.49 |
|
|
$ |
202,713 |
|
Options vested and exercisable at June 30, 2026 |
|
2,948,010 |
|
|
|
11.78 |
|
|
|
8.02 |
|
|
|
88,118 |
|
Options vested and expected to vest at June 30, 2026 |
|
8,030,456 |
|
|
$ |
16.43 |
|
|
|
8.49 |
|
|
$ |
202,713 |
|
|
| Summary of Restricted Stock Awards Grant Activity |
The following table summarizes the Company’s service-based RSA grant activity for the six months ended June 30, 2026:
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|
RSAs |
|
|
Weighted-
Average Grant
Date Fair Value |
|
Unvested shares at December 31, 2025 |
|
411,833 |
|
|
$ |
3.94 |
|
Granted |
|
— |
|
|
|
— |
|
Vested |
|
(170,131 |
) |
|
|
3.86 |
|
Forfeited |
|
(28,846 |
) |
|
|
2.92 |
|
Unvested shares at June 30, 2026 |
|
212,856 |
|
|
$ |
4.13 |
|
|
| Summary of Performance-based RSA Grant Activity |
The following table summarizes the Company’s performance-based RSA grant activity for the six months ended June 30, 2026:
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|
RSAs |
|
|
Weighted-
Average Grant
Date Fair Value |
|
Unvested shares at December 31, 2025 |
|
212,977 |
|
|
$ |
3.72 |
|
Granted |
|
— |
|
|
|
— |
|
Vested |
|
(83,933 |
) |
|
|
3.79 |
|
Forfeited |
|
(24,129 |
) |
|
|
2.92 |
|
Unvested shares at June 30, 2026 |
|
104,915 |
|
|
$ |
3.85 |
|
|
| Summary of Restricted Stock Unit Activity |
The following table summarizes restricted stock unit activity for the six months ended June 30, 2026 and provides information for unvested shares as of June 30, 2026.
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|
RSUs |
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|
Weighted-
Average Grant
Date Fair Value |
|
Unvested shares at December 31, 2025 |
|
13,987 |
|
|
$ |
7.15 |
|
Granted |
|
10,000 |
|
|
|
31.67 |
|
Vested |
|
(6,994 |
) |
|
|
7.15 |
|
Forfeited |
|
— |
|
|
|
— |
|
Unvested shares at June 30, 2026 |
|
16,993 |
|
|
$ |
21.58 |
|
|
| Summary of Share-based Compensation Expense |
The following table below summarizes the classification of the Company’s stock-based compensation expense related to stock options and RSAs in the condensed consolidated statements of operations and comprehensive loss (in thousands):
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For the Three Months
Ended June 30, |
|
|
For the Six Months
Ended June 30, |
|
|
|
2026 |
|
|
2025 |
|
|
2026 |
|
|
2025 |
|
Selling, general and administrative |
|
$ |
4,302 |
|
|
$ |
2,780 |
|
|
$ |
8,471 |
|
|
$ |
5,499 |
|
Research and development |
|
|
2,900 |
|
|
|
1,609 |
|
|
|
5,694 |
|
|
|
2,930 |
|
|
|
$ |
7,202 |
|
|
$ |
4,389 |
|
|
$ |
14,165 |
|
|
$ |
8,429 |
|
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