Stock-Based Compensation (Tables)
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6 Months Ended |
Jun. 30, 2026 |
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| Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
|
| Summary of Shares Available for Issuance Under 2020 Plan |
A summary of the shares available for issuance under the 2020 Plan and Inducement Plan (collectively, the “Incentive Plans”) is as follows:
|
|
|
|
|
|
|
2020 Plan |
|
Inducement Plan |
Balance at December 31, 2025 |
|
684 |
|
81 |
Authorized |
|
600 |
|
— |
Granted/Awarded |
|
(1,030) |
|
— |
Cancelled/Forfeited |
|
83 |
|
2 |
Balance at June 30, 2026 |
|
337 |
|
83 |
|
| Summary of Option Award Activity |
Option award activity under the Incentive Plans is set forth below:
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|
|
Options Outstanding |
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|
|
Number of Shares |
|
|
Weighted Average Exercise Price |
|
|
Weighted Average Remaining Contractual Term (In Years) |
|
|
Aggregate Intrinsic Value |
|
Outstanding at December 31, 2025 |
|
|
1,809 |
|
|
$ |
5.23 |
|
|
|
6.4 |
|
|
$ |
11,587 |
|
Options granted |
|
|
— |
|
|
$ |
— |
|
|
|
|
|
|
|
Options exercised |
|
|
(21 |
) |
|
$ |
2.65 |
|
|
|
|
|
|
|
Options cancelled/forfeited |
|
|
(6 |
) |
|
$ |
3.25 |
|
|
|
|
|
|
|
Outstanding at June 30, 2026 |
|
|
1,782 |
|
|
$ |
5.27 |
|
|
|
5.6 |
|
|
$ |
2,020 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Vested and expected to vest at June 30, 2026 |
|
|
1,782 |
|
|
$ |
5.27 |
|
|
|
5.6 |
|
|
$ |
2,020 |
|
Vested and exercisable at June 30, 2026 |
|
|
1,717 |
|
|
$ |
5.34 |
|
|
|
5.5 |
|
|
$ |
1,856 |
|
|
| Summary of Stock Options Outstanding and Vested |
The following table summarizes information about stock options outstanding and vested as of June 30, 2026:
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|
|
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|
Options Outstanding |
|
|
Options Vested |
|
Exercise Price |
|
Options Outstanding |
|
|
Weighted Average Remaining Contractual Term (in Years) |
|
|
Weighted Average Exercise Price |
|
|
Number Exercisable |
|
|
Weighted Average Exercise Price |
|
$2.15 - $3.10 |
|
|
300 |
|
|
|
6.4 |
|
|
$ |
2.66 |
|
|
|
253 |
|
|
$ |
2.66 |
|
$3.23 |
|
|
422 |
|
|
|
6.9 |
|
|
$ |
3.23 |
|
|
|
422 |
|
|
$ |
3.23 |
|
$3.27 - $5.95 |
|
|
39 |
|
|
|
7.5 |
|
|
$ |
4.22 |
|
|
|
24 |
|
|
$ |
4.24 |
|
$6.04 |
|
|
390 |
|
|
|
4.8 |
|
|
$ |
6.04 |
|
|
|
390 |
|
|
$ |
6.04 |
|
$6.07 - $13.48 |
|
|
631 |
|
|
|
4.6 |
|
|
$ |
7.46 |
|
|
|
628 |
|
|
$ |
7.44 |
|
|
|
|
1,782 |
|
|
|
5.6 |
|
|
$ |
5.27 |
|
|
|
1,717 |
|
|
$ |
5.34 |
|
|
| Summary of Fair Value of Stock Options was Estimated Using Assumptions |
The fair value of stock options was estimated using the following assumptions for the three and six months ended June 30, 2025:
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Three Months Ended
June 30, |
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|
Six Months Ended
June 30, |
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|
2025 |
|
|
2025 |
|
Risk-free interest rate |
|
|
— |
|
|
4.0 - 4.4% |
|
Expected term (years) |
|
|
— |
|
|
|
6.0 |
|
Expected volatility |
|
|
— |
|
|
61% |
|
Dividends |
|
|
— |
|
|
0.0% |
|
|
| Summary of Total Stock-Based Compensation Expense Recognized |
The following table sets forth the total stock-based compensation expense recognized under the Incentive Plans and the 2020 ESPP in the Company’s condensed statements of operations:
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Three Months Ended
June 30, |
|
|
Six Months Ended
June 30, |
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|
2026 |
|
|
2025 |
|
|
2026 |
|
|
2025 |
|
Revenue – product |
|
$ |
— |
|
|
$ |
9 |
|
|
$ |
— |
|
|
$ |
10 |
|
Cost of revenue – product |
|
|
52 |
|
|
|
53 |
|
|
|
107 |
|
|
|
90 |
|
Cost of revenue – service |
|
|
50 |
|
|
|
46 |
|
|
|
106 |
|
|
|
78 |
|
Selling, general and administrative expenses |
|
|
190 |
|
|
|
582 |
|
|
|
709 |
|
|
|
1,093 |
|
Research and development expenses |
|
|
55 |
|
|
|
76 |
|
|
|
115 |
|
|
|
149 |
|
Total |
|
$ |
347 |
|
|
$ |
766 |
|
|
$ |
1,037 |
|
|
$ |
1,420 |
|
|
| Summary of Unrecognized Stock-based Compensation Expense Expected to be Amortized |
Total unrecognized stock-based compensation expense is expected to be amortized as follows:
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|
|
|
|
Fiscal Year |
|
Amount |
|
Remainder of 2026 |
|
$ |
1,651 |
|
2027 |
|
|
2,762 |
|
2028 |
|
|
2,305 |
|
2029 |
|
|
878 |
|
2030 |
|
|
315 |
|
Total unrecognized stock-based compensation expense |
|
$ |
7,911 |
|
|
| Restricted Stock Units |
|
| Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
|
| Summary of Restricted Stock Units Activity |
Restricted stock unit and performance stock unit activity under the Incentive Plans is set forth below:
|
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|
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|
Restricted Stock Units Outstanding |
|
|
|
Number of Units |
|
|
Weighted Average Grant Date Fair Value Per Share |
|
Non-vested at December 31, 2025 |
|
|
949 |
|
|
$ |
6.72 |
|
Restricted stock units granted |
|
|
1,030 |
|
|
$ |
5.74 |
|
Restricted stock units vested |
|
|
(248 |
) |
|
$ |
8.26 |
|
Restricted stock units cancelled |
|
|
(47 |
) |
|
$ |
5.51 |
|
Non-vested at June 30, 2026 |
|
|
1,684 |
|
|
$ |
5.93 |
|
|
|
|
|
|
|
|
Vested and unreleased restricted stock units at June 30, 2026 |
|
|
110 |
|
|
$ |
3.26 |
|
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