v3.26.1
STOCK-BASED COMPENSATION (Tables)
 6 Months Ended
Jun. 30, 2026
Share-Based Payment Arrangement [Abstract]  
Schedule of Stock Option Activity
The following table summarizes stock option activity for the six months ended June 30, 2026 (amounts in thousands, except per share data):
Options Outstanding
Number of
Options
Weighted Average
Exercise Price
Per Share
Weighted Average
Remaining
Contractual
Term (in years)
Aggregate
Intrinsic
Value
Balance as of December 31, 2025
5,723 $1.66 4.8$16,891 
Stock options granted3,886 4.26 — — 
Stock options exercised(568)1.72 — 1,762 
Stock options forfeited, canceled, or expired— — — — 
Balance as of June 30, 2026
9,041 2.77 5.517,513 
Options exercisable as of June 30, 2026
4,755 1.69 4.114,349 
Options vested and expected to vest as of June 30, 2026
9,041 $2.77 5.5$17,513 
Schedule of Estimate of Fair Value of Warrants
The following table provides the assumptions used to estimate the fair value of the Company’s liability classified warrants as of June 30, 2026 and December 31, 2025:
OIC WarrantsNovus Warrants
June 30, 2026December 31, 2025June 30, 2026December 31, 2025
Exercise price$4.24$4.24$11.50$11.50
Expected term (in years)4.284.780.621.12
Expected volatility75.0 %80.0 %86.8 %70.0 %
Risk-free interest rate4.2 %3.7 %3.9 %3.7 %
Expected dividend yield— %— %— %— %
The grant-date fair value of stock options granted during the six months ended June 30, 2026 was estimated using the Black-Scholes option-pricing model based on the following assumptions:
Expected term (in years)4.5
Expected volatility75.0 %
Risk-free interest rate4.2 %
Expected dividend yield— 
The fair value of these market-based RSUs was measured on their grant date, using a Monte Carlo simulation model based on the following assumptions:
Expected term (in years)4.0
Expected volatility
75% - 80%
Risk-free interest rate
3.7% - 3.9%
Expected dividend yield— 
Schedule of Restricted Stock Units Activity
The following table summarizes activity for all RSUs, including time-based and market-based awards, for the six months ended June 30, 2026 (amounts in thousands, except per share data):
Number of RSUs
Weighted Average
Grant Date Fair
Value per Share
Non-vested balance as of December 31, 2025
20,349 $1.66 
RSUs granted7,359 3.62 
RSUs forfeited(1,095)1.55 
RSUs vested(6,664)1.86 
Non-vested balance as of June 30, 2026
19,949 $2.32 
Schedule of Stock-Based Compensation Expense
Total stock-based compensation expense for the three and six months ended June 30, 2026 and 2025 was as follows (amounts in thousands):
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Sales and marketing$671 $1,039 $1,359 $2,084 
Research and development522 1,368 1,486 2,736 
General and administrative3,173 6,577 8,574 13,440 
Total stock-based compensation expense$4,366 $8,984 $11,419 $18,260