Note 9 - Equity |
6 Months Ended |
|---|---|
Jun. 30, 2026 | |
| Notes to Financial Statements | |
| Equity [Text Block] |
Note 9. Equity
Stock-based compensation expense is recorded in salaries, wages and payroll taxes expense in the Condensed Consolidated Statements of Comprehensive Loss. For the six months ended June 30, 2026 and 2025, stock-based compensation expense was approximately $0.3 million and $11.0 thousand, respectively. There were no income tax benefits recognized from stock-based compensation during the six months ended June 30, 2026 and 2025 due to cumulative losses and valuation allowances.
During the three months ended June 30, 2026, 57,868 stock options expired unexercised. The options had a weighted average exercise price of $21.96. No compensation expense adjustment was required as the awards were fully vested.
Preferred Stock
We have authorized 3,333,333 shares of $0.0001 par value of preferred stock. As of June 30, 2026 and December 31, 2025 there were no shares of preferred stock issued and outstanding.
Common Stock
We have authorized 50,000,000 shares of $0.0001 par value common stock. As of June 30, 2026 and December 31, 2025, 2,713,222 and 2,676,788 shares of common stock, respectively, were issued and outstanding.
At-the-Market Offering Program
On May 13, 2026, the Company entered into a Sales Agreement (the “Sales Agreement”) with H.C. Wainwright & Co., LLC, pursuant to which the Company may offer and sell shares of its common stock, from time to time, having an aggregate offering price of up to approximately $3.8 million, through or to the sales agent(s) acting as the agent or principal (the “ATM Program”).
Sales of shares of the Company’s common stock under the ATM Program, if any, will be made by any method permitted by law deemed to be an “at-the-market offering” as defined in Rule 415(a)(4) under the Securities Act of 1933, as amended, including sales made directly on or through the Nasdaq Capital Market or any other existing trading market for the Company’s common stock. As of June 30, 2026, no shares have been sold under the ATM Program.
Treasury Stock
Treasury stock represents shares of the Company’s common stock that have been issued and subsequently repurchased by the Company and that have not been retired or cancelled. The Company accounts for treasury stock under the cost method and includes treasury stock as a component of Total Equity on the Condensed Consolidated Balance Sheets. The Company accounts for the reissuance of treasury stock using the average cost method. The Company did not reissue or retire any shares of treasury stock during the six months ended June 30, 2026.
Listing on the Nasdaq Capital Market
Our common stock is traded on the Nasdaq Capital Market under the symbol “NXPL”.
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