v3.26.1
Share-Based Compensation (Tables)
6 Months Ended
Jun. 30, 2026
Share-Based Payment Arrangement [Abstract]  
Schedule of Stock Option Activity

The following table summarizes the stock option activity during the six months ended June 30, 2026:

 

 

Stock
Option
Shares

 

 

Weighted
Average
Exercise
Price

 

 

Weighted
Average
Remaining
Contractual
Term
(in Years)

 

 

Aggregate
Intrinsic
Value
(in thousands)

 

Outstanding as of December 31, 2025

 

 

8,120,654

 

 

$

6.31

 

 

 

8.19

 

 

$

2,642

 

Granted

 

 

3,070,847

 

 

 

3.60

 

 

 

 

 

 

 

Exercised

 

 

(24,286

)

 

 

2.29

 

 

 

 

 

 

 

Cancelled/Forfeited

 

 

(41,539

)

 

 

9.76

 

 

 

 

 

 

 

Outstanding as of June 30, 2026

 

 

11,125,676

 

 

$

5.56

 

 

 

8.29

 

 

$

17,066

 

Options exercisable as of June 30, 2026

 

 

4,761,919

 

 

$

9.05

 

 

 

7.07

 

 

$

6,039

 

Vested and expected to vest as of June 30, 2026

 

 

11,125,676

 

 

$

5.56

 

 

 

8.29

 

 

$

17,066

 

Schedule of Share-Based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity

Activity with respect to the Company’s restricted stock units during the six months ended June 30, 2026 is as follows:

 

 

Shares

 

 

Weighted Average
Grant Date Fair
Value

 

Nonvested shares at December 31, 2025

 

 

2,452,690

 

 

$

1.73

 

Granted

 

 

 

 

 

 

Vested/Issued

 

 

(2,282,458

)

 

 

1.70

 

Forfeited

 

 

(13,234

)

 

 

1.74

 

Nonvested shares at June 30, 2026

 

 

156,998

 

 

$

2.04

 

Schedule of Recognized Compensation Cost Related to Employee and Non-employee Stock-Based Compensation Activity

The Company recognized the following compensation cost related to employee and non-employee share-based compensation activity for the periods presented (in thousands):

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Selling, general and administrative

 

$

869

 

 

$

2,156

 

 

$

2,328

 

 

$

3,140

 

Research and development

 

 

651

 

 

 

931

 

 

 

1,385

 

 

 

1,627

 

Total

 

$

1,520

 

 

$

3,087

 

 

$

3,713

 

 

$

4,767

 

Schedule of Stock Options Valuation Assumptions

The calculation was based on the following assumptions:

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Weighted average grant date fair value (per share)

 

$

2.60

 

 

$

1.74

 

 

$

2.59

 

 

$

1.85

 

Risk-free interest rate

 

4.06% - 4.25%

 

 

3.97% - 4.19%

 

 

3.72% - 4.25%

 

 

3.97% - 4.19%

 

Expected volatility

 

79.13% - 81.53%

 

 

84.03% - 84.81%

 

 

79.13% - 82.12%

 

 

84.03% - 89.48%

 

Expected term (in years)

 

5.50 - 6.08

 

 

5.49 - 6.08

 

 

5.50 - 6.08

 

 

5.49 - 6.08

 

Expected dividend yield