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Stock-Based Compensation (Tables) | 12 Months Ended
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Dec. 31, 2025
Stock-Based Compensation [Abstract] |
Schedule of Option Activity | The following table summarizes the Company’s option activity for the year ended December 31, 2025, 2024 and 2023 (in thousands, except exercise price and contractual life data):
|  | Number Outstanding |  |  | Weighted Average Exercise Price per Share |  |  | Weighted Average Remaining Contractual Life (Years) |
Balance as of January 1, 2023 |  |  | 9,165 |  |  | $ | 3.51 |  |  |  | 4.2 |
Granted |  |  | 5,340 |  |  |  | 1.38 |  |  |  | 5.0 |
Forfeited |  |  | (662 | ) |  |  | 4.41 |  |  |  | - |
Balance as of December 31, 2023 |  |  | 13,843 |  |  |  | 2.64 |  |  |  | 3.7 |
Granted |  |  | 830 |  |  |  | 0.92 |  |  |  | 5.0 |
Forfeited |  |  | (1,690 | ) |  |  | 4.14 |  |  |  | - |
Balance as of December 31, 2024 |  |  | 12,983 |  |  | $ | 2.34 |  |  |  | 2.9 |
Granted |  |  | 1,630 |  |  |  | 11.09 |  |  |  | 4.7 |
Exercised |  |  | (7,204 | ) |  |  | 2.30 |  |  |  | - |
Forfeited |  |  | (346 | ) |  |  | 8.11 |  |  |  | - |
Balance as of December 31, 2025 |  |  | 7,063 |  |  | $ | 4.11 |  |  |  | 2.6 |
Vested and exercisable as of December 31, 2025 |  |  | 4,563 |  |  | $ | 3.68 |  |  |  | 2.3 |
Vested and exercisable as of December 31, 2024 |  |  | 9,646 |  |  | $ | 2.66 |  |  |  | 2.7 |
Schedule of Grant-Date Fair Value of Stock Options Granted | The following table presents the assumptions used in the Black-Scholes option-pricing model to determine the grant-date fair value of stock options granted during the years ended December 31, 2025 and 2024:
|  | Year Ended |
|  | December 31, |
|  | 2025 |  |  | 2024 |
Exercise price |  | $ | 1.00 – 21.78 |  |  | $ | 0.46 – 1.12 |
Risk-free interest rate |  |  | 3.6 – 4.2 | % |  |  | 4.2 – 5.2 | %
Expected volatility |  |  | 130 – 138 | % |  |  | 90 – 105 | %
Expected dividend yield |  |  | 0 | % |  |  | 0 | %
Expected life of options (in years) |  |  | 5.0 |  |  |  | 5.0 |
Schedule of Exercise Price Range | The following table summarizes the exercise price range as of December 31, 2025 (in thousands):
Exercise Price |  | Outstanding Options |  |  | Exercisable Options |
$0.00 – 1.00 |  |  | 610 |  |  |  | 390 |
$1.00 – 2.00 |  |  | 3,191 |  |  |  | 1,611 |
$2.00 – 3.00 |  |  | 1,260 |  |  |  | 1,260 |
$3.00 – 6.00 |  |  | 158 |  |  |  | 38 |
$6.00 – 8.00 |  |  | 962 |  |  |  | 937 |
$8.00 – 12.00 |  |  | 302 |  |  |  | 227 |
$12.00 – 22.00 |  |  | 580 |  |  |  | 100 |
|  |  | 7,063 |  |  |  | 4,563 |
Schedule of Activity for Restricted Stock | The following table summarizes the Company’s activity for restricted stock tied to vesting schedules for the year ended December 31, 2025, 2024 and 2023 (in thousands):
|  | Number Outstanding |  |  | Weighted Average Fair Value |
Unvested as of January 1, 2023 |  |  | 50 |  |  | $ | 5.70 |
Granted |  |  | 2,429 |  |  |  | 1.36 |
Vested |  |  | (1,046 | ) |  |  | 1.48 |
Forfeited |  |  | (24 | ) |  |  | 1.28 |
Unvested as of December 31, 2023 |  |  | 1,409 |  |  |  | 1.42 |
Granted |  |  | 904 |  |  |  | 1.58 |
Vested |  |  | (1,049 | ) |  |  | 1.82 |
Unvested as of December 31, 2024 |  |  | 1,264 |  |  |  | 1.20 |
Granted |  |  | 150 |  |  |  | 10.95 |
Vested |  |  | (698 | ) |  |  | 2.14
Forfeited |  |  | (16 | ) |  |  | 0.67 |
Unvested as of December 31, 2025 |  |  | 700 |  |  | $ | 5.62 |
Schedule of Stock-Based Compensation Expense Related to Common Stock Options and Restricted Shares of Common Stock | The Company recognized stock-based compensation expense related to common stock options and restricted shares of common stock in the following expense categories of its consolidated statements of operations (in thousands):
|  | Year Ended December 31, |
|  | 2025 |  |  | 2024 |  |  | 2023 |
Research and development |  | $ | 2,701 |  |  | $ | 4,024 |  |  | $ | 2,080 |
Selling and marketing |  |  | 214 |  |  |  | 301 |  |  |  | (279 | )
General and administrative |  |  | 5,744 |  |  |  | 1,457 |  |  |  | 2,470 |
Total stock-based compensation |  | $ | 8,659 |  |  | $ | 5,782 |  |  | $ | 4,271 |

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