v3.26.1
Stock-Based Compensation (Tables)
 6 Months Ended
Jun. 30, 2026
Stock-Based Compensation [Abstract]  
Schedule of Service-Based RSA Activity

The table below identifies service-based RSA activity under the 2024 Plan and certain awards granted outside of the Company’s equity incentive plans for the relevant periods presented:

 

   Numbers of
RSAs		   Weighted
Average
Fair Value
Per RSA		 
Unvested as of December 31, 2025   321,060   $0.92 
Granted (1)   161,032    1.15 
Vested   (225,713)   1.09 
Canceled/Forfeited   (14,440)   0.68 
Unvested as of June 30, 2026   241,939   $0.92 

 

(1) On June 15, 2026, the Company granted 95,238 RSAs to a consulting firm outside of its equity incentive plans at a grant-date fair value of $1.05 per share, subject to vesting monthly over a 6-month period commencing on June 15, 2026.

The table below identifies service and performance-based RSA activity under the 2022 Plan and the 2024 Plan for the relevant periods presented:

 

   Numbers of
RSAs		   Weighted
Average
Fair Value
Per RSA		 
Unvested as of December 31, 2025   386,768   $2.58 
Granted   2,320,000        1.55 
Vested   (250,526)   1.72 
Canceled/Forfeited   (7,724)   0.71 
Unvested as of June 30, 2026   2,448,518   $1.70 

The table below identifies service and performance-based RSA activity for shares of Class A Common Stock under the 2026 Plan for the relevant periods presented:

 

   Numbers of
RSAs		   Weighted
Average
Fair Value
Per RSA		 
Unvested as of December 31, 2025   
—
   $
—
 
Granted   500,000    0.01 
Vested   
—
    
—
 
Canceled/Forfeited   
—
    
—
 
Unvested as of June 30, 2026   500,000   $0.01 
Schedule of Stock Options Activity

The table below identifies stock options activity under the 2022 Plan for the relevant periods presented:

 

   Outstanding
stock options		   Weighted
average
exercise
price		   Weighted
average
remaining
contractual
life (years)		   Aggregate
intrinsic
value		 
Balance as of December 31, 2025   2,151,947   $0.76    2.4   $1,805,713 
Granted   
—
    
—
           
Exercised   
—
    
—
           
Canceled/Forfeited   (251,122)   1.14           
Balance as of June 30, 2026   1,900,825   $0.71    2.0   $570,248 
Vested as of June 30, 2026   1,807,269   $0.71    2.0   $542,181 
Vested and expected to vest as of June 30, 2026   1,900,825   $0.71    2.0   $570,248 

The table below identifies the stock options activity for shares of Class B Common Stock granted to the Company’s Chief Executive Officer and Chief Financial Officer under the 2026 Plan for the relevant periods presented:

 

   Outstanding
stock options		   Weighted
average
exercise
price		   Weighted
average
remaining
contractual
life (years)		   Aggregate
intrinsic
value		 
Balance as of December 31, 2025   
—
   $
   —
    
  —
   $
    —
 
Granted   2,000,000    0.01    10.0      
Exercised   
—
    
—
           
Canceled/Forfeited   
—
    
—
           
Balance as of June 30, 2026   2,000,000   $0.01    9.8   $
—
 
Vested as of June 30, 2026   2,000,000   $0.01    9.8   $
—
 
Vested and expected to vest as of June 30, 2026   2,000,000   $0.01    9.8   $
—
 
Schedule of Fair Value of Stock Options

The estimated fair value of stock options was calculated using the binomial option-pricing model, based on the following range of assumptions:

 

   Six Months Ended
June 30,
2026		 
Expected volatility   58.35%
Risk-free interest rate   4.48%
Exercise multiples   2.80 
Expected dividend yield   
—
%
Forfeited rates   
—
%
Fair market value per common share   0.01