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

The following table summarizes stock option activity for the six months ended June 30, 2026 (in thousands, except share and per share data):

 

 

 

Number of
Shares

 

 

Weighted
Average
Exercise
Price
per Share

 

 

Weighted Average
Remaining
Contractual
Term
(in years)

 

 

Aggregate
Intrinsic
Value
(in thousands)

 

Outstanding at January 1, 2026

 

 

5,271,889

 

 

$

5.70

 

 

 

6.71

 

 

$

6,940

 

Granted

 

 

1,349,000

 

 

$

2.44

 

 

 

 

 

 

 

Exercised

 

 

(84,236

)

 

$

2.12

 

 

 

 

 

 

 

Forfeited

 

 

(80,273

)

 

$

4.27

 

 

 

 

 

 

 

Expired

 

 

(26,631

)

 

$

3.58

 

 

 

 

 

 

 

Outstanding at June 30, 2026

 

 

6,429,749

 

 

$

3.34

 

 

 

6.91

 

 

$

18,115

 

Vested and expected to vest at June 30, 2026

 

 

6,145,067

 

 

$

3.47

 

 

 

7.11

 

 

$

16,627

 

Exercisable at June 30, 2026

 

 

3,748,632

 

 

$

2.84

 

 

 

5.91

 

 

$

11,673

 
Schedule of Weighted-Average Assumptions used in Black-Scholes Option-Pricing Model

The weighted average assumptions used in the Black-Scholes pricing model for stock options granted during the three and six months ended June 30, 2026 and 2025, were as follows:

 

 

 

For the Three Months Ended June 30,

 

 

For the Six Months Ended June 30,

 

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Estimated dividend yield

 

 

-

%

 

 

-

%

 

 

-

%

 

 

-

%

Weighted-average expected stock price volatility

 

 

35.97

%

 

 

37.16

%

 

 

36.97

%

 

 

36.05

%

Weighted-average risk-free interest rate

 

 

4.19

%

 

 

3.99

%

 

 

3.80

%

 

 

4.33

%

Expected average term of options (in years)

 

 

5.55

 

 

 

5.53

 

 

 

6.16

 

 

 

6.16

 

Weighted-average fair value of common stock

 

$

5.30

 

 

$

5.41

 

 

$

2.44

 

 

$

7.89

 

Weighted-average fair value per option

 

$

2.15

 

 

$

2.22

 

 

$

1.03

 

 

$

3.42

 
Schedule of Restricted Stock Unit Activity

The following table summarizes restricted stock unit activity for the six months ended June 30, 2026 (in thousands, except share and per share data):

 

 

 

Number of
Shares

 

 

Weighted
Average
Grant Date
Fair Value
per Share

 

 

Weighted Average
Remaining
Contractual
Term (in
years)

 

 

Aggregate
Intrinsic
Value
(in thousands)

 

Outstanding at January 1, 2026

 

 

45,073

 

 

$

5.41

 

 

 

0.66

 

 

$

171

 

Granted

 

 

—

 

 

$

—

 

 

 

 

 

 

 

Vested

 

 

(22,538

)

 

$

5.41

 

 

 

 

 

 

 

Forfeited

 

 

—

 

 

$

—

 

 

 

 

 

 

 

Outstanding at June 30, 2026

 

 

22,535

 

 

$

5.41

 

 

 

0.66

 

 

$

128

 

Vested and expected to vest at June 30, 2026

 

 

22,535

 

 

$

5.41

 

 

 

0.66

 

 

$

128

 
Schedule of Stock-Based Compensation Expense

Stock-based compensation expense included in the accompanying condensed financial statements was as follows (in thousands):

 

 

 

For the Three Months Ended June 30,

 

 

For the Six Months Ended June 30,

 

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Cost of sales

 

$

15

 

 

$

27

 

 

$

35

 

 

$

56

 

Research and development

 

 

8

 

 

 

7

 

 

 

17

 

 

 

(1

)

Sales and marketing

 

 

85

 

 

 

58

 

 

 

177

 

 

 

105

 

General and administrative

 

 

514

 

 

 

858

 

 

 

1,088

 

 

 

1,642

 

Total stock-based compensation expense

 

$

622

 

 

$

950

 

 

$

1,317

 

 

$

1,802