v3.26.1
Stock-based Compensation (Tables)
 6 Months Ended
Jun. 30, 2026
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]  
Schedule of Stock Options Activity

The following summarizes the Company’s stock option activity for the six months ended June 30, 2026:

 

 

 

Options Outstanding

 

 

Weighted-Average

 

 

 

 

 

 

 

 

 

Weighted Average

 

 

Remaining

 

 

Aggregate Intrinsic

 

 

 

 

 

 

Exercise Price

 

 

Contractual Term

 

 

Value

 

 

 

Number of Shares

 

 

(Per share)

 

 

(In years)

 

 

(In thousands)

 

Outstanding – December 31, 2025

 

 

1,200,568

 

 

$

2.32

 

 

 

6.5

 

 

$

2,619

 

Exercised

 

 

(85,218

)

 

 

1.91

 

 

 

 

 

 

 

Forfeited or expired

 

 

(22,764

)

 

 

1.78

 

 

 

 

 

 

 

Outstanding – June 30, 2026

 

 

1,092,586

 

 

$

2.36

 

 

 

6.0

 

 

$

4,171

 

Exercisable – December 31, 2025

 

 

845,217

 

 

$

2.12

 

 

 

6.0

 

 

$

1,888

 

Exercisable – June 30, 2026

 

 

845,842

 

 

$

2.16

 

 

 

5.7

 

 

$

3,343

 
Summary of RSU and RSA Activity

The following table presents a summary of the Company’s RSU activity for the six months ended June 30, 2026, including the 2025 Executive RSU awards discussed above:

 

 

Restricted Stock Units Outstanding

 

 

Number of Shares

 

 

Weighted-Average Grant-Date Fair Value
(Per share)

 

Outstanding – December 31, 2025

 

 

1,577,394

 

 

$

4.34

 

Granted

 

 

6,186,449

 

 

 

5.86

 

Vested

 

 

(391,002

)

 

 

5.21

 

Forfeited

 

 

(166,769

)

 

 

7.16

 

Outstanding – June 30, 2026

 

 

7,206,072

 

 

$

5.53

 

The following summarizes the Company’s employee RSA activity for the six months ended June 30, 2026:

 

 

Restricted Stock Awards Outstanding

 

 

Number of Shares

 

 

Weighted-Average Grant-Date Fair Value
(Per share)

 

Outstanding – December 31, 2025



 

1,500,000

 

 

$

2.23

 

Outstanding – June 30, 2026

 

 

1,500,000

 

 

$

2.23

 
Schedule of Stock Based Compensation Expense

The Company recognized stock-based compensation expense in the condensed consolidated statement of operations and comprehensive loss as follows:

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

(In thousands)

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Cost of revenue

 

$

14

 

 

$

15

 

 

$

15

 

 

$

25

 

Research and development

 

 

131

 

 

 

111

 

 

 

220

 

 

 

190

 

Sales and marketing

 

 

281

 

 

 

210

 

 

 

469

 

 

 

389

 

General and administrative

 

 

1,893

 

 

 

805

 

 

 

2,854

 

 

 

1,686

 

Total stock-based compensation expense

 

$

2,319

 

 

$

1,141

 

 

$

3,558

 

 

$

2,290

 
2025 Executive RSU Awards  
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]  
Schedule of Grant-date Fair Value of 2025 Executive RSU Awards Using Weighted-Average Assumptions

The 2025 Executive RSU awards contain a market condition. The Company used a Monte Carlo valuation model to estimate the fair value of the award as of the grant-date. The associated compensation cost is recognized over the derived service period regardless of whether the market condition is ultimately satisfied. The Company calculated the grant-date fair value of the 2025 Executive RSU awards using the following weighted-average assumptions:

 

2025 Executive RSU Awards

 

 

 

Risk-free interest rate

 

 

4.30

%

Expected term (in years)

 

1.72

 

Expected dividend yield

 

 

0.00

%

Expected volatility

 

 

140.30

%