Annual report [Section 13 and 15(d), not S-K Item 405]

Stock-Based Compensation (Tables)

v3.25.4
Stock-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2025
Share-Based Payment Arrangement [Abstract]  
Schedule of Share-Based Payment Arrangement, Option, Activity
Stock option activity under the Company’s equity incentive plan is as follows (in thousands, except share and per share amounts):
Options Outstanding
Number of
Options
Weighted–Average Exercise
Price
Weighted-Average Remaining Contractual Life (years) Aggregate Intrinsic Value
Balance – December 31, 2024 1,707,450  $ 7.34  3.64 $ 12 
Cancelled/forfeited (112,747) 6.88 
Balance – December 31, 2025 1,594,703  7.38  2.74 $ — 
Vested and expected to vest – December 31, 2025 1,594,703  $ 7.38  2.74 $ — 
Options vested and exercisable – December 31, 2025 1,391,270  $ 5.70  2.39 $ — 
Schedule of Restricted Stock Units Activity
The following table summarizes the activity for all RSUs under all of the Company’s equity incentive plans for the year ended December 31, 2025:
Number of shares Weighted–Average Grant Date Fair Value Per Share
Unvested – December 31, 2024 4,657,655  $ 2.62 
Granted 3,640,943  1.51 
Vested (2,618,014) 2.76 
Forfeited (1,844,660) 2.34 
Balance – December 31, 2025 3,835,924  1.61 
Schedule of Share-Based Payment Award, Employee Stock Purchase Plan, Valuation Assumptions
The following assumptions were used in estimating the fair values of shares under the ESPP for the periods indicated:

Year Ended December 31,
2025 2024
Fair value of common stock
$1.19 - $1.47
$1.29 - $1.53
Expected term (in years)
0.5 - 2.0
0.5 - 2.0
Volatility
63.29% - 72.00%
60.00% - 91.00%
Risk-free interest rate
3.62% - 4.29%
4.31% - 5.40%
Dividend yield