NOTE 10—STOCK-BASED COMPENSATION As of June 30, 2026, 1,883,935 shares of common stock were available for grant under the Company’s Amended and Restated 2016 Equity Incentive Plan. The following table summarizes the Company’s stock option activities for the three months ended June 30, 2026: | | | | | | | | | | | | | | | | | | | | Weighted | | | | | | | | | | | | Number of Shares | | Average | | Weighted | | | Weighted | | | | Shares | | Underlying | | Remaining | | Average | | | Average Grant | | | | Available for | | Options | | Contractual | | Exercise | | Date Fair | | | | Grant | | Outstanding | | Life (Years) | | Price | | Value Per Share | | Balance, March 31, 2026 | | 1,963,395 | | 7,085,134 | | | | $ | 5.25 | | $ | 2.63 | | Granted | | (87,310) | | 87,310 | | | | $ | 11.72 | | $ | 9.86 | | Exercised | | — | | (780,769) | | | | $ | 5.80 | | $ | 2.15 | | Forfeited | | 7,850 | | (7,850) | | | | $ | 5.28 | | $ | 5.07 | | Balance at June 30, 2026 | | 1,883,935 | | 6,383,825 | | 5.93 | | $ | 5.27 | | $ | 2.79 | | Options vested and exercisable | | | | 4,290,619 | | 4.66 | | $ | 5.40 | | $ | 2.26 | | Options vested and expected to vest | | | | 6,349,709 | | 5.92 | | $ | 5.28 | | $ | 2.79 | | Options unvested | | | | 2,093,206 | | 8.55 | | $ | 5.01 | | $ | 3.87 | |
The aggregate intrinsic value of options exercised during the three month period ended June 30, 2026 was $4,076,649. The following table summarizes stock-based compensation expense by line item in the Condensed Consolidated Statements of Operations, all relating to employee stock plans: | | | | | | | | | | Three Months Ended June 30, | | | | 2026 | | 2025 | | | | | (In thousands) | | Cost of revenues | | $ | 70 | | $ | 44 | | Research and development | | | 260 | | | (62) | | Selling, general and administrative | | | 557 | | | 359 | | | | $ | 887 | | $ | 341 | |
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