Stock-Based Compensation (Tables)
|
6 Months Ended |
Jun. 30, 2026 |
|---|
| Share-Based Payment Arrangement [Abstract] |
|
| Schedule of Weighted Average Grant Fair Value of Stock Options Using Black-Scholes Option-Pricing Model |
The
following table presents, on a weighted average basis, the assumptions used in the Black-Scholes option-pricing model to determine the
grant-date fair value of stock options granted during the six months ended June 30, 2026 and 2025:
Schedule of Weighted Average Grant Fair Value of Stock Options Using Black-Scholes Option-Pricing Model
| | |
Six Months Ended June 30, 2026 | | |
Six Months Ended June 30, 2025 | |
| Risk-free interest rate | |
| 3.72 | % | |
| 4.0 | % |
| Expected term (in years) | |
| 6.0 | | |
| 6.0 | |
| Expected volatility | |
| 98.58 | % | |
| 97.6
— 108.6 | % |
| Expected dividend yield | |
| 0 | % | |
| 0 | % |
|
| Schedule of Stock Option Activity |
The
following table summarizes option activity with service and performance conditions under the 2021 Plan and the 2017 Plan:
Schedule of Stock Option Activity
| | |
Options | | |
Weighted Average Exercise Price | | |
Weighted Average Contract Term | | |
Aggregate Intrinsic Value | |
| Outstanding at January 1, 2026 | |
| 3,941,760 | | |
$ | 24.12 | | |
| | | |
| | |
| Granted | |
| 50,000 | | |
$ | 1.20 | | |
| | | |
| | |
| Exercised | |
| - | | |
$ | - | | |
| | | |
| | |
| Forfeited/Expired | |
| (143,021 | ) | |
$ | 3.61 | | |
| | | |
| | |
| Outstanding at June 30, 2026* | |
| 3,848,739 | | |
$ | 24.58 | | |
| 5.1 | | |
$ | — | |
| Vested and expected to vest at June 30, 2026 | |
| 3,848,739 | | |
$ | 24.58 | | |
| 5.1 | | |
$ | — | |
| Exercisable at June 30, 2026 | |
| 3,015,442 | | |
$ | 30.83 | | |
| 4.1 | | |
$ | — | |
| * |
Options outstanding on
June 30, 2026 under the 2021 Plan and 2017 Plan were 3,008,631 and 885,108, respectively, including 45,000 options with performance
and service conditions. |
|
| Schedule of Activity Related to RSU Stock-Based Payment Awards |
The
following table summarizes activity related to RSU stock-based payment awards under the 2021 Plan:
Schedule of Activity Related to RSU Stock-Based Payment Awards
| | |
Number
of Shares | | |
Weighted Average Grant Date Fair Value | |
| Outstanding at January 1, 2026 | |
| 643,859 | | |
$ | 4.48 | |
| Granted | |
| 98,463 | | |
$ | 1.30 | |
| Vested* | |
| (240,659 | ) | |
$ | 7.32 | |
| Forfeited | |
| (45,164 | ) | |
$ | 7.15 | |
| Outstanding at June 30, 2026 | |
| 456,499 | | |
| 2.03 | |
| * | | During the six
months ended June 30, 2026, 240,659 RSUs vested. Upon settlement of these awards, the Company withheld 5,958 shares to satisfy employee
tax withholding obligations. Accordingly, 234,701 net shares were issued to employees. In addition, there were 125,912 RSUs that vested
in Q1 and Q2 2026 and the related shares of common stock will be issued and delivered subsequent to June 30, 2026. There were also 3,248 RSUs that were issued in Q1 2026 but fully vested in Q4 2025. |
|
| Schedule of Stock-based Compensation Expense |
Stock-based
compensation expense follows:
Schedule of Stock-based Compensation Expense
| | |
2026 | | |
2025 | | |
2026 | | |
2025 | |
| | |
Three Months Ended June 30, | | |
Six Months Ended June 30, | |
| | |
2026 | | |
2025 | | |
2026 | | |
2025 | |
| Cost of revenues | |
$ | 19 | | |
$ | 76 | | |
$ | 84 | | |
$ | 139 | |
| Research and development | |
| 24 | | |
| 197 | | |
| 182 | | |
| 386 | |
| Selling, general and administrative | |
| 801 | | |
| 2,175 | | |
| 1,949 | | |
| 4,560 | |
| Stock-based compensation
expense | |
$ | 844 | | |
$ | 2,448 | | |
$ | 2,215 | | |
$ | 5,085 | |
|