v3.26.1

Share-Based Compensation Expense (Tables) | 6 Months Ended
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Jun. 30, 2026
Share-Based Compensation Expense [Abstract] |
Schedule of Share-Based Compensation Expenses | Share-based compensation expenses are summarized as follows:
|  | Three months ended June 30, |  |  | Six months ended June 30, |
|  | 2026 |  |  | 2025 |  |  | 2026 |  |  | 2025 |
Restricted stock units |  | $ | 2,464,905 |  |  | $ | 2,848,751 |  |  | $ | 4,239,504 |  |  | $ | 6,964,276 |
Stock options |  |  | 3,602,747 |  |  |  | 2,511,511 |  |  |  | 6,073,080 |  |  |  | 7,057,360 |
Employee stock purchase plan |  |  | 10,810 |  |  |  | 19,032 |  |  |  | 27,021 |  |  |  | 42,461 |
Pre-funded warrants |  |  | 729,730 |  |  |  | - |  |  |  | 1,702,703 |  |  |  | - |
Stock options in NCI |  |  | 322,025 |  |  |  | - |  |  |  | 322,025 |  |  |  | - |
|  | $ | 7,130,217 |  |  | $ | 5,379,294 |  |  | $ | 12,364,333 |  |  | $ | 14,064,097 |
Schedule of Unvested Restricted Stock Units (“RSUs”) Transactions | The following table reflects the continuity of unvested restricted stock units (“RSUs”) transactions:
|  | Service Conditions |
|  | Number |  |  | Weighted Average Grant Date Fair Value |
Outstanding, December 31, 2025 |  |  | 1,851,200 |  |  | $ | 7.36 |
Granted |  |  | 3,076,862 |  |  |  | 5.31 |
Vested |  |  | (1,024,610 | ) |  |  | 7.08 |
Forfeited |  |  | (216,193 | ) |  |  | 6.68 |
Outstanding, June 30, 2026 |  |  | 3,687,259 |  |  | $ | 5.76 |
|  | Market Conditions |
|  | Number |  |  | Weighted Average Grant Date Fair Value |
Outstanding, December 31, 2025 |  |  | 400,000 |  |  | $ | 2.74 |
Granted |  |  | - |  |  |  | - |
Vested |  |  | - |  |  |  | - |
Forfeited |  |  | (400,000 | ) |  |  | 2.74 |
Outstanding, June 30, 2026 |  |  | - |  |  | $ | - |
|  | Performance Conditions |
|  | Number |  |  | Weighted Average Grant Date Fair Value |
Outstanding, December 31, 2025 |  |  | 161,551 |  |  | $ | 8.51 |
Granted |  |  | 52,530 |  |  |  | 5.71 |
Vested |  |  | - |  |  |  | - |
Forfeited |  |  | (161,551 | ) |  |  | 8.51 |
Outstanding, June 30, 2026 |  |  | 52,530 |  |  | $ | 5.71 |
Schedule of Additional Information Related to RSUs | The following table reflects additional information related to RSUs activity:
|  | As of June 30, 2026 |
|  | Service Conditions |  |  | Market Conditions |  |  | Performance Conditions |
Unrecognized compensation cost |  | $ | 18,336,772 |  |  | $ | - |  |  | $ | 299,946 |
Weighted-average service period for unrecognized compensation cost |  |  | 2.71 |  |  |  | - |  |  |  | - |
Grant date fair value of RSUs |  | $ | 16,331,320 |  |  | $ | - |  |  | $ | 299,946 |
The following table reflects additional information related to options activity:
|  | As of June 30, 2026 |
|  | Service Conditions |
Unrecognized compensation cost |  | $ | 34,559,671 |
Weighted-average service period for unrecognized compensation cost |  |  | 0.79 |
Weighted-average grant date fair value of options outstanding |  | $ | 3.41 |
The following table reflects additional information related to options:
|  | As of June 30, 2026 Service Conditions |
Unrecognized compensation cost |  | $ | - |
Weighted-average service period for unrecognized compensation cost |  |  | 0.00 years |
Grant date fair value of ESPPs |  | $ | $30,294 |
The following table reflects additional information related to the pre-funded warrants:
|  | As of June 30, 2026 |
|  | Service Conditions |
Unrecognized compensation cost |  | $ | 7,297,297 |
Weighted-average service period for unrecognized compensation cost |  |  | 2.50 |
Grant date fair value of pre-funded warrants |  | $ | 9,000,000 |
Schedule of Fair Value of the Assumptions Made | The fair value of the stock options was determined using either a Black-Scholes option pricing model or a Monte Carlo simulation methodology that included simulating the stock price using a risk-neutral Geometric Brownian Motion-based pricing model. The following table reflects the assumptions made:
|  | Six Months Ended June 30, 2026 |
Share price |  | $ | 5.01-$6.37 |
Exercise price |  | $ | 5.01-$6.37 |
Risk-free interest rate |  |  | 3.83%-4.15 | %
Volatility |  |  | 63%-69 | %
Expected life |  |  | 6.00-6.75 years |
Dividend rate |  |  | 0.00 | %
The fair value of the Employee Stock Purchase Plan was determined using Black-Scholes option pricing model. The following table reflects the assumptions made:
|  | Six Months Ended June 30, 2026 |
Share price |  | $ | 6.37 |
Risk-free interest rate |  |  | 3.58 | %
Volatility |  |  | 49.5 | %
Expected life |  |  | 0.49 years |
Dividend rate |  |  | 0.00 | %
Schedule of Stock Option Transactions | The following table reflects the continuity of stock option transactions:
|  | Service Conditions |
|  | Number |  |  | Weighted Average Exercise Price |
Outstanding, December 31, 2025 |  |  | 43,227,838 |  |  | $ | 1.48 |
Granted |  |  | 6,766,020 |  |  |  | 5.18 |
Exercised |  |  | (464,247 | ) |  |  | 5.96 |
Forfeited |  |  | (216,538 | ) |  |  | 7.51 |
Cancelled |  |  | (22,944 | ) |  |  | 8.20 |
Outstanding, June 30, 2026 |  |  | 49,290,129 |  |  | $ | 1.92 |
Vested and exercisable, June 30, 2026 |  |  | 38,961,151 |  |  | $ | 0.88 |
|  |  | Service Conditions |
|  |  | Number |  |  |  | Weighted Average Exercise Price |
Outstanding, December 31, 2025 |  |  | - |  |  | $ | - |
Granted |  |  | 1,412,873 |  |  |  | 6.37 |
Vested |  |  | (235,479 | ) |  |  | 6.37 |
Forfeited |  |  | - |  |  |  | - |
Outstanding, June 30, 2026 |  |  | 1,177,394 |  |  | $ | 6.37 |

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- Definition Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
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- Definition Tabular disclosure of the number and weighted-average grant date fair value for restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock units that were granted, vested, or forfeited during the year. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
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- Definition Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (e) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Subparagraph (f)(2) -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
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