v3.26.3
Stock-Based Compensation (Tables)
 9 Months Ended
Sep. 30, 2026
Share-Based Payment Arrangement [Abstract]  
Schedule of Summarized Option Activity Under Option Plan
Stock option activity under the 2015 Plan and 2025 Plan is summarized for the nine months ended September 30, 2026 below:
Options Issued and Outstanding
Weighted Average Exercise Price
Balance as of January 1, 202676,886,581 $0.17 
Options granted5,729,480 $0.67 
Options exercised(1,229,353)$0.03 
Options forfeited(4,084,533)$0.35 
Options expired(3,800,533)$0.02 
Balance as of September 30, 202673,501,642 $0.21 
Options vested and expected to vest as of September 30, 202670,705,497 $0.21 
Options vested and exercisable as of September 30, 202664,145,108 $0.15 
Schedule of Fair Value of Stock Option Awards
The fair values of PMI’s stock option awards granted were estimated at the dates of grant using the Black-Scholes model with the following average assumptions for the periods presented (no options were granted for the three months ended September 30, 2025):
Three Months Ended September 30,Nine Months Ended September 30,
2026202520262025
Volatility of common stock58.96 %n/a61.67 %65.42 %
Risk-free interest rate4.42 %n/a4.13 %4.03 %
Expected life (in years)6 yearsn/a5.9 years6.0 years
Dividend yield— %n/a— %— %
Schedule of Restricted Stock Unit The following table summarizes the Company’s RSU activity for nine months ended September 30, 2026:
Number of SharesWeighted-Average Grant Date Fair Value
Unvested as of January 1, 20262,559,633 $1.03 
Granted3,618,453 0.42 
Unvested as of September 30, 20266,178,086 $0.67 
Schedule of Stock Based Compensation Included in Consolidated Statements of Operations
The following table presents the amount of stock-based compensation related to stock-based awards granted to employees recognized in Prosper’s condensed consolidated statements of operations for the periods presented (in thousands):

Three Months Ended September 30,Nine Months Ended September 30,
2026202520262025
Origination and servicing$42 $26 $191 $81 
Sales and marketing19 17 52 52 
General and administrative237 274 850 860 
Total stock-based compensation$298 $317 $1,093 $993