Stockholders' Equity (Tables)
|
9 Months Ended |
Sep. 30, 2026 |
|---|
| Stockholders' Equity Note [Abstract] |
|
| Schedule of Number of Common Stock Reserved for Future Issuance |
As of September 30, 2026, and December 31, 2025, the Company had reserved common stock for future issuance as follows:
|
|
|
|
|
|
|
|
|
|
|
September 30, |
|
|
December 31, |
|
|
|
2026 |
|
|
2025 |
|
Conversion of outstanding warrants |
|
|
102,299 |
|
|
|
102,299 |
|
Outstanding options |
|
|
4,003,933 |
|
|
|
4,135,501 |
|
Outstanding RSUs |
|
|
2,523,076 |
|
|
|
1,561,534 |
|
Shares reserved for future issuance under the Company's equity plans |
|
|
5,383,325 |
|
|
|
5,279,680 |
|
Total |
|
|
12,012,633 |
|
|
|
11,079,014 |
|
|
| Schedule of Option Activity Under The Plans |
Activity under the 2014 Stock Incentive Plan (the “2014 Plan”), 2024 Equity Incentive Plan (the “2024 EIP”), and 2024 Incentive Award Plan (the “2024 Plan”) is as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted
average |
|
|
Aggregate |
|
Number of |
|
Weighted
average |
|
|
remaining
contractual |
|
intrinsic
value |
|
options |
|
exercise price |
|
|
life (in years) |
|
(in thousands) |
|
Balance at December 31, 2025 |
|
|
4,135,501 |
|
|
$ |
8.70 |
|
|
|
7.38 |
|
|
|
54,842 |
|
Options granted |
|
|
768,254 |
|
|
|
19.03 |
|
|
|
|
|
|
|
Options exercised |
|
|
(706,006 |
) |
|
|
5.77 |
|
|
|
|
|
|
|
Options forfeited |
|
|
(193,816 |
) |
|
|
15.71 |
|
|
|
|
|
|
|
Balance at September 30, 2026 |
|
|
4,003,933 |
|
|
|
10.93 |
|
|
|
6.91 |
|
|
|
53,897 |
|
Options vested and expected to vest as of September 30, 2026 |
|
|
4,003,933 |
|
|
|
10.93 |
|
|
|
6.91 |
|
|
|
53,897 |
|
Options exercisable at September 30, 2026 |
|
|
2,410,370 |
|
|
$ |
7.75 |
|
|
|
6.09 |
|
|
|
40,125 |
|
|
| Schedule of Restricted Stock Activity |
Restricted Stock Unit activity under the plans is as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Number of |
|
Weighted average |
|
shares |
|
grant date fair value |
|
Unvested at December 31, 2025 |
|
|
1,561,534 |
|
|
$ |
17.94 |
|
Granted |
|
|
1,769,197 |
|
|
|
19.37 |
|
Vested |
|
|
(483,700 |
) |
|
|
18.56 |
|
Cancelled |
|
|
(323,955 |
) |
|
|
18.66 |
|
Unvested at September 30, 2026 |
|
|
2,523,076 |
|
|
$ |
18.74 |
|
|
| Schedule of Assumptions Used for Estimate of Fair Value of Options |
The fair value of employee stock options granted was estimated using the following weighted-average assumptions for the three and nine months ended September 30, 2026 and 2025:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three months ended September 30, |
|
Nine months ended September 30, |
|
|
2026 |
2025 |
|
2026 |
2025 |
|
Expected term (in years) |
|
4.8 |
|
|
* |
|
|
4.7 |
|
|
|
5.0 |
|
Expected volatility |
|
71.0 |
% |
|
* |
|
|
71.0 |
% |
|
|
61.1 |
% |
Risk-free interest rate |
|
4.4 |
% |
|
* |
|
|
4.0 |
% |
|
|
3.9 |
% |
Dividend yield |
— |
|
|
* |
|
— |
|
|
— |
|
*There were no options granted for the three months ended September 30, 2025
|
| Schedule of Total Stock Based Compensation Expense |
The Company’s total stock-based compensation expense was as follows (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three months ended September 30, |
|
|
Nine months ended September 30, |
|
|
2026 |
2025 |
|
|
2026 |
2025 |
|
Cost of revenue |
$ |
17 |
|
|
$ |
95 |
|
|
$ |
176 |
|
|
$ |
222 |
|
Research and development |
|
913 |
|
|
|
552 |
|
|
|
2,561 |
|
|
|
1,489 |
|
Sales and marketing |
|
2,328 |
|
|
|
1,336 |
|
|
|
6,433 |
|
|
|
3,316 |
|
General and administrative |
|
3,841 |
|
|
|
1,366 |
|
|
|
7,650 |
|
|
|
3,837 |
|
Total stock-based compensation expense |
$ |
7,099 |
|
|
$ |
3,349 |
|
|
$ |
16,820 |
|
|
$ |
8,864 |
|
|