v3.26.1
EQUITY PLANS AND SHARE-BASED COMPENSATION (Tables)
 6 Months Ended
Jun. 30, 2026
Share-Based Payment Arrangement [Abstract]  
Schedule of Stock Option Activity
The following table summarizes stock option activity for time-based awards:
(shares in thousands)Number
of shares		Weighted
average
exercise price
Outstanding at December 31, 202515,509$6.40 
Granted 7,794$1.66 
Exercised (244)$1.28 
Canceled(813)$5.32 
Expired(442)$8.93 
Outstanding at June 30, 202621,804$4.75 
Schedule of Time-Based RSUs and PSUs Activity The following table summarizes the time-based RSUs and PSUs activity:
RSUPSUWeighted average grant date
fair value
(shares in thousands)
RSUPSU
Outstanding at December 31, 202517,551 392 $3.50 $9.43 
Granted9,897 — $1.68 $— 
Vested(7,343)— $3.59 $— 
Forfeited(1,121)(392)$2.49 $9.43 
Outstanding at June 30, 202618,984 — $2.57 $— 
Schedule of Stock-Based Compensation Expense
The following table summarizes share-based compensation expense:
Three Months Ended June 30,Six Months Ended June 30,
(In thousands)2026202520262025
Cost of revenue$694 $925 $1,342 $2,090 
Research and development 2,405 3,307 1,633 5,914 
Sales, general and administrative6,164 7,663 10,747 13,092 
Total share-based compensation expense$9,263 $11,895 $13,722 $21,096 
Schedule of Fair Value of Employee Stock Options
The fair value of employee stock options was estimated using the following assumptions:
Six Months Ended June 30,
20262025
Expected term in years4.94.9
Expected volatility
 96% — 97%
95% — 96%
Risk-free interest rate
 3.48% — 4.16%
3.89% — 4.29%
Dividend yield ——
Weighted average grant date fair value per share$1.23$0.90
Schedule of Fair Value of Employee Stock Purchase Plan
The fair value of shares to be issued under the ESPP was estimated using the following assumptions:
Six Months Ended June 30,
20262025
Expected term in years
0.5 — 2.0
0.5 — 2.0
Expected volatility
97%
113%
Risk-free interest rate
3.47% — 3.68%
3.96% — 4.31%
Dividend yield ——
Weighted average grant date fair value per share$0.90$0.93