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Stock-Based Awards | 6 Months Ended
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Jun. 30, 2026
Share-Based Payment Arrangement [Abstract] |
Stock-Based Awards | Note 5. Stock-Based Awards Restricted Stock Units We grant restricted stock units, or RSUs, with a service condition, and RSUs with market and service conditions, or MSUs. The following table summarizes activity for RSUs and MSUs for the six months ended June 30, 2026 (in thousands):
|  |  | Number of Underlying Shares |
|  |  | RSUs |  |  | MSUs |
Outstanding at December 31, 2025 |  |  |  | 771 |  |  |  | 219 |
Granted |  |  |  | 444 |  |  |  | 94 |
Vested |  |  |  | (223 | ) |  |  | (60 | )
Forfeited |  |  |  | (34 | ) |  |  | (3 | )
Outstanding at June 30, 2026 |  |  |  | 958 |  |  |  | 250 |
Stock-Based Compensation Expense The following table presents the detail of stock-based compensation expense amounts included in our Condensed Consolidated Statements of Operations for the periods presented (in thousands):
| Three Months Ended June 30, |  |  | Six Months Ended June 30, |
| 2026 |  |  | 2025 |  |  | 2026 |  |  | 2025 |
Cost of revenue | $ | 445 |  |  | $ | 539 |  |  | $ | 832 |  |  | $ | 1,065 |
Research and development expense |  | 7,942 |  |  |  | 6,065 |  |  |  | 15,115 |  |  |  | 13,084 |
Sales and marketing expense |  | 2,671 |  |  |  | 1,984 |  |  |  | 5,039 |  |  |  | 2,254 |
General and administrative expense |  | 5,237 |  |  |  | 4,435 |  |  |  | 10,000 |  |  |  | 9,142 |
Total stock-based compensation expense | $ | 16,295 |  |  | $ | 13,023 |  |  | $ | 30,986 |  |  | $ | 25,545 |
At the 2026 Annual Meeting of Shareholders on May 28, 2026, the Company’s shareholders approved the 2026 Equity Incentive Plan, or the 2026 Plan. The 2026 Plan provides for equity award grants to Company executives and employees as well as to non-employee directors and consultants that may comprise stock options, stock appreciation rights, restricted stock, restricted stock units, performance units and performance shares. Similar awards were offered under the 2026 Plan’s predecessor, the 2016 Equity Incentive Plan, or the 2016 Plan. The 2016 Plan was terminated as of the approval of the 2026 Plan and we are no longer using it for equity award grants; however, outstanding awards granted under the 2016 Plan will continue to be governed by the terms of the 2016 Plan.

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