v3.26.3
EQUITY PLANS AND SHARE-BASED COMPENSATION (Tables)
 9 Months Ended
Sep. 30, 2026
Share-Based Payment Arrangement [Abstract]  
Schedule of Stock Option Activity
The following table summarizes stock option activity for time-based awards:
(shares in thousands)Number
of shares		Weighted
average
exercise price
Outstanding at December 31, 202515,509$6.40 
Granted 9,762$1.56 
Exercised (443)$1.27 
Canceled/Forfeited/Expired(2,377)$4.82 
Outstanding at September 30, 202622,451$4.56 
Schedule of Time-Based RSUs and PSUs Activity The following table summarizes the time-based RSUs and PSUs activity:
RSUPSUWeighted average grant date
fair value
(shares in thousands)
RSUPSU
Outstanding at December 31, 202517,551 392 $3.50 $9.43 
Granted10,721 — $1.64 $— 
Vested(7,462)— $3.64 $— 
Forfeited(3,485)(392)$2.53 $9.43 
Outstanding at September 30, 202617,325 — $2.49 $— 
Schedule of Stock-Based Compensation Expense
The following table summarizes share-based compensation expense:
Three Months Ended September 30,Nine Months Ended September 30,
(In thousands)2026202520262025
Cost of revenue$573 $892 $1,915 $2,982 
Research and development 2,062 3,050 3,695 8,964 
Sales, general and administrative5,904 7,042 16,651 20,134 
Total share-based compensation expense$8,539 $10,984 $22,261 $32,080 
Schedule of Fair Value of Employee Stock Options
The fair value of employee stock options was estimated using the following assumptions:
Nine Months Ended September 30,
20262025
Expected term in years4.94.9
Expected volatility
 96% — 97%
95% — 96%
Risk-free interest rate
 3.48% — 4.36%
3.89% — 4.29%
Dividend yield ——
Weighted average grant date fair value per share$1.15$0.90
Schedule of Fair Value of Employee Stock Purchase Plan
The fair value of shares to be issued under the ESPP was estimated using the following assumptions:
Nine Months Ended September 30,
20262025
Expected term in years
0.5 — 2.0
0.5 — 2.0
Expected volatility
93% — 97%
101% — 113%
Risk-free interest rate
3.47% — 4.39%
3.66% — 4.31%
Dividend yield ——
Weighted average grant date fair value per share$0.78$0.89