Common Stock |
6 Months Ended |
|---|---|
Jun. 30, 2026 | |
| Equity [Abstract] | |
| Common Stock | Common Stock Pursuant to the terms of our Certificate of Incorporation (as amended, the “Certificate of Incorporation”), the Company is authorized to issue the following shares and classes of capital stock, each with a par value of $0.0001 per share: (i) 200,000,000 shares of common stock; (ii) 100,000,000 shares of preferred stock. The holder of each share of common stock is entitled to one vote. On June 17, 2026, the Company's stockholders approved an amendment to our Certificate of Incorporation to increase our number of authorized shares of common stock from 100,000,000 to 200,000,000, and the Company filed a Certificate of Amendment to its Certificate of Incorporation to effect this amendment on the same date. On May 12, 2025, the Company entered into an At-Market-Issuance Sales Agreement (the “Former ATM Agreement”) with Oppenheimer & Co. Inc., pursuant to which the Company could offer and sell shares of the Company’s common stock, having an aggregate offering price of up to $100.0 million. The Company terminated the Former ATM Agreement in May 2026. From the date of the Former ATM Agreement to its termination, the Company sold 4,671,406 shares at a weighted-average sales price of $20.88 per share, resulting in cumulative gross proceeds to the Company totaling approximately $97.5 million before deducting offering costs, sales commissions and fees. Cumulative net proceeds to the Company totaled approximately $95.6 million after deducting offering costs, sales commissions and fees. On May 8, 2026, the Company entered into the ATM Agreement with Oppenheimer & Co. Inc., Northland Securities, Inc., Rosenblatt Securities Inc., and Roth Capital Partners, LLC (each, an “Agent” and, collectively the “Agents”), pursuant to which the Company may offer and sell, from time to time, through or to the Agents, acting as agent or principal, shares of the Company’s common stock, having an aggregate offering price of up to $100.0 million. During the three months ended June 30, 2026, 3,649,000 shares of common stock were sold under the ATM Agreement at a weighted-average sales price of $27.40 per share, resulting in cumulative gross proceeds to the Company totaling approximately $100.0 million before deducting offering costs, sales commissions and fees. Cumulative net proceeds to the Company totaled approximately $98.0 million after deducting offering costs, sales commissions and fees. We plan to use the net proceeds from this offering for working capital and general corporate purposes. As of June 30, 2026, the ATM offering is complete and there are no remaining funds available under the ATM Agreement. On November 9, 2025, the Company agreed to issue shares of common stock for the acquisition of Stereolabs. See Note 3. Upon the closing of the Stereolabs transaction on February 4, 2026, the Company issued 1,847,677 shares, inclusive of 660,005 shares which will be released over a four-year period. The Company sold the foregoing securities in transactions not involving an underwriter and not requiring registration under Section 5 of the Securities Act of 1933, as amended (the “Securities Act”) in reliance on the exemptions afforded by Section 4(a)(2) and/or Regulation S of the Securities Act and the rules and regulations promulgated thereunder. On July 6, 2026, the Company completed the sale and issuance of an aggregate of 3,621,876 shares of the Company’s common stock. The Company received net proceeds of approximately $191.9 million, after deducting the underwriter’s discounts and commissions. (See Note 14.)
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