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Equity Compensation Plans | 3 Months Ended
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Mar. 31, 2026
Share-Based Payment Arrangement [Abstract] |
Equity Compensation Plans | EQUITY COMPENSATION PLANS The Company has two share-based incentive plans: the 2023 Stock Incentive Plan (2023 Plan) and the 2018 Employee Stock Purchase Plan (ESPP). Stock Incentive Plan Under the 2023 Plan, the Board of Directors may grant restricted stock awards or restricted stock units (collectively RSAs), nonstatutory stock options, performance share awards, performance share units or stock appreciation rights to Company employees, directors and consultants, and may grant incentive stock options to Company employees. The Compensation Committee of the Board of Directors, as the administrator of the 2023 Plan, has the authority to determine the terms of any awards, including the number of shares subject to each award, the exercisability of the awards and the form of consideration. As of March 31, 2026, 5,787 shares of common stock have been reserved for issuance under the 2023 Plan, and 1,138 shares were available for future grants. The Company issues registered shares of common stock for stock option exercises, restricted stock grants and performance share award payments. Employee Stock Purchase Plan Under the ESPP, shares of the Company’s common stock may be purchased at a discount (15%) to the lesser of the closing price of the Company’s common stock on the first or last trading day of the offering period. The offering period (currently six months) and the offering price are subject to change. Participants may not purchase more than $25 of the Company’s common stock in a calendar year or more than 3 shares during an offering period. As of March 31, 2026, there were 295 shares available for future issuance under the ESPP. Share-Based Compensation Expense Information The following table summarizes the allocation of share-based compensation expense:
| Three Months Ended March 31, |  |
| 2026 |  | 2025 |  |  |  |
Cost of revenue | $ | 683 |  |  | $ | 669 |  |  |  |  |
Research and development expenses | 2,091 |  |  | 1,852 |  |  |  |  |
Selling, general and administrative expenses | 8,499 |  |  | 7,109 |  |  |  |  |
Total | $ | 11,273 |  |  | $ | 9,630 |  |  |  |  |

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