v3.26.1
CONDENSED STATEMENTS OF CHANGES IN REDEEMABLE CONVERTIBLE PREFERRED STOCK AND STOCKHOLDERS' EQUITY (DEFICIT) (Unaudited) - USD ($)
$ in Thousands
Total
Series A Redeemable Convertible Preferred Stock
Common Stock
Additional Paid-in Capital
Accumulated Deficit
Accumulated Other Comprehensive Income (Loss)
Beginning Balance, Shares at Dec. 31, 2024   20,000        
Beginning Balance at Dec. 31, 2024 $ 4,862 $ 13,784 $ 116 $ 148,035 $ (143,295) $ 6
Beginning Balance, Shares at Dec. 31, 2024     11,654,000      
Exercise of stock options under the Incentive Plans 21     21    
Exercise of stock options under the Incentive Plans, Shares     5,000      
Issuance of common stock under the Incentive Plans, net of forfeitures (330)   $ 2 (332)    
Issuance of common stock under the Incentive Plans, net of forfeitures, Shares     131,000      
Stock-based compensation under the Incentive Plans 654     654    
Net income (loss) (27,345)       (27,345)  
Change in unrealized loss on investments (3)         (3)
Ending Balance, Shares at Mar. 31, 2025   20,000        
Ending Balance at Mar. 31, 2025 (22,141) $ 13,784 $ 118 148,378 (170,640) 3
Ending Balance, Shares at Mar. 31, 2025     11,790,000      
Beginning Balance, Shares at Dec. 31, 2024   20,000        
Beginning Balance at Dec. 31, 2024 4,862 $ 13,784 $ 116 148,035 (143,295) 6
Beginning Balance, Shares at Dec. 31, 2024     11,654,000      
Net income (loss) (29,109)          
Change in unrealized loss on investments (9)          
Ending Balance, Shares at Jun. 30, 2025   20,000        
Ending Balance at Jun. 30, 2025 (23,052) $ 13,784 $ 119 149,236 (172,404) (3)
Ending Balance, Shares at Jun. 30, 2025     11,933,000      
Beginning Balance, Shares at Mar. 31, 2025   20,000        
Beginning Balance at Mar. 31, 2025 (22,141) $ 13,784 $ 118 148,378 (170,640) 3
Beginning Balance, Shares at Mar. 31, 2025     11,790,000      
Exercise of stock options under the Incentive Plans 13     13    
Exercise of stock options under the Incentive Plans, Shares     2,000      
Issuance of common stock under the Incentive Plans, net of forfeitures (95)   $ 1 (96)    
Issuance of common stock under the Incentive Plans, net of forfeitures, Shares     113,000      
Stock-based compensation under the Incentive Plans 766     766    
Issuance of common stock under the 2020 ESPP 175     175    
Issuance of common stock under the 2020 ESPP, Shares     28,000      
Net income (loss) (1,764)       (1,764)  
Change in unrealized loss on investments (6)         (6)
Ending Balance, Shares at Jun. 30, 2025   20,000        
Ending Balance at Jun. 30, 2025 $ (23,052) $ 13,784 $ 119 149,236 (172,404) (3)
Ending Balance, Shares at Jun. 30, 2025     11,933,000      
Beginning Balance, Shares at Dec. 31, 2025 20,000 20,000        
Beginning Balance at Dec. 31, 2025 $ (26,019) $ 13,784 $ 120 151,432 (177,575) 4
Beginning Balance, Shares at Dec. 31, 2025     11,993,000      
Exercise of stock options under the Incentive Plans 15     15    
Exercise of stock options under the Incentive Plans, Shares     6,000      
Issuance of common stock under the Incentive Plans, net of forfeitures (224)   $ 1 (225)    
Issuance of common stock under the Incentive Plans, net of forfeitures, Shares     102,000      
Stock-based compensation under the Incentive Plans 690     690    
Net income (loss) 36,332       36,332  
Change in unrealized loss on investments (4)         (4)
Ending Balance, Shares at Mar. 31, 2026   20,000        
Ending Balance at Mar. 31, 2026 $ 10,790 $ 13,784 $ 121 151,912 (141,243)  
Ending Balance, Shares at Mar. 31, 2026     12,101,000      
Beginning Balance, Shares at Dec. 31, 2025 20,000 20,000        
Beginning Balance at Dec. 31, 2025 $ (26,019) $ 13,784 $ 120 151,432 (177,575) $ 4
Beginning Balance, Shares at Dec. 31, 2025     11,993,000      
Net income (loss) 39,867          
Change in unrealized loss on investments $ (4)          
Ending Balance, Shares at Jun. 30, 2026 20,000 20,000        
Ending Balance at Jun. 30, 2026 $ 14,905 $ 13,784 $ 123 152,490 (137,708)  
Ending Balance, Shares at Jun. 30, 2026     12,282,000      
Beginning Balance, Shares at Mar. 31, 2026   20,000        
Beginning Balance at Mar. 31, 2026 10,790 $ 13,784 $ 121 151,912 (141,243)  
Beginning Balance, Shares at Mar. 31, 2026     12,101,000      
Exercise of stock options under the Incentive Plans 40     40    
Exercise of stock options under the Incentive Plans, Shares     15,000      
Issuance of common stock under the Incentive Plans, net of forfeitures (66)   $ 1 (67)    
Issuance of common stock under the Incentive Plans, net of forfeitures, Shares     114,000      
Stock-based compensation under the Incentive Plans 347     347    
Issuance of common stock under the 2020 ESPP 259   $ 1 258    
Issuance of common stock under the 2020 ESPP, Shares     52,000      
Net income (loss) 3,535       3,535  
Change in unrealized loss on investments $ 0          
Ending Balance, Shares at Jun. 30, 2026 20,000 20,000        
Ending Balance at Jun. 30, 2026 $ 14,905 $ 13,784 $ 123 $ 152,490 $ (137,708)  
Ending Balance, Shares at Jun. 30, 2026     12,282,000