v3.26.1
Stock-based Compensation (Tables)
 6 Months Ended
Jun. 30, 2026
Schedule of Stock Options Activity

A summary of the Company’s stock option activity, for the six months ended June 30, 2026, was as follows:

 

 

 

Number of
Options

 

 

Weighted-
Average
Exercise Price

 

 

Weighted-
Average
Remaining
Contractual
Life (Years)

 

 

Aggregate
Intrinsic Value
(in thousands)

 

Outstanding as of December 31, 2025

 

 

2,316,417

 

 

$

2.81

 

 

 

3.76

 

 

$

24,431

 

Exercised

 

 

(12,652

)

 

 

1.83

 

 

 

—

 

 

 

—

 

Outstanding as of June 30, 2026

 

 

2,303,765

 

 

$

2.82

 

 

 

3.25

 

 

$

59,663

 

Vested and exercisable as of June 30, 2026

 

 

2,303,765

 

 

$

2.82

 

 

 

3.25

 

 

$

59,663

 

Vested and expected to vest as of June 30, 2026

 

 

2,303,765

 

 

$

2.82

 

 

 

3.25

 

 

$

59,663

 
Schedule of Restricted Stock Activity

The following table summarizes the Company's RSU activity (excluding PBRSUs) for the six months ended June 30, 2026:

 

 

 

Shares

 

 

Weighted Average
Grant Date
Fair Value
per Share

 

Outstanding as of December 31, 2025

 

 

7,137,273

 

 

$

6.51

 

Granted

 

 

2,293,220

 

 

 

17.87

 

Released

 

 

(1,772,568

)

 

 

8.23

 

Forfeited

 

 

(371,098

)

 

 

6.26

 

Outstanding as of June 30, 2026

 

 

7,286,827

 

 

$

9.68

 
Schedule of Fair Value Weighted-Average Assumptions The Company estimated the fair value of the market-based PBRSUs award on the grant date using the Monte Carlo simulation model with the following assumptions:

 

 

 

 

Expected term (years)

 

0.5 - 4.7

 

Expected volatility

 

 

70.9

%

Risk-free interest rate

 

 

3.29

%

Dividend yield

 

 

0

%

Share price

 

$

5.10

 
The Company estimated the fair value of the market-based PBRSUs award on the grant date using the Monte Carlo simulation model with the following assumptions:

 

Expected term (years)

 

0.7 - 4.7

 

Expected volatility

 

 

97.1

%

Risk-free interest rate

 

 

4.09

%

Dividend yield

 

 

0

%

Share price

 

$

28.18

 
Summary of Stock-Based Compensation Expense

Total stock-based compensation expense by function was as follows (in thousands):

 

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Cost of revenue

 

$

112

 

 

$

32

 

 

$

343

 

 

$

63

 

Research and development expenses

 

 

4,927

 

 

 

3,434

 

 

 

8,925

 

 

 

6,411

 

General and administrative expenses

 

 

2,987

 

 

 

2,349

 

 

 

7,988

 

 

 

3,725

 

Sales and marketing expenses

 

 

487

 

 

 

209

 

 

 

622

 

 

 

389

 

Total

 

$

8,513

 

 

$

6,024

 

 

$

17,878

 

 

$

10,588