XML 63 R35.htm IDEA: XBRL DOCUMENT
v3.26.1

Share-Based Compensation (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2025
Share-Based Payment Arrangement [Abstract] |
Schedule of Stock Option Activity | A summary of stock option activity for awards under the 2020 Plan and the 2024 Plan is presented below:
| Number of Shares |  | Weighted Average Exercise Price |  | Weighted Average Remaining Contractual Lives (years) |  | Aggregate Intrinsic Value (in thousands)
Outstanding as of December 31, 2024 | 2,989,927 |  | $ | 10.50 |  |  | 8.2 |  | $ | 55,531 |
Granted | 1,151,114 |  | $ | 27.20 |  |  |  |  |
Exercised | (158,858) |  | $ | 7.06 |  |  |  |  |
Forfeited | (159,936) |  | $ | 16.64 |  |  |  |  |
Outstanding as of December 31, 2025 | 3,822,247 |  | $ | 15.41 |  |  | 8.0 |  | $ | 16,441 |
Exercisable as of December 31, 2025 | 1,727,761 |  | $ | 8.25 |  |  | 7.1 |  | $ | 13,919 |
Vested and expected to vest | 3,822,247 |  | $ | 15.41 |  |  | 8.0 |  | $ | 16,441 |
Schedule of Valuation Assumptions | The assumptions used in the Black-Scholes option pricing model for stock options granted were as follows:
| Year Ended December 31,
| 2025 |  | 2024
Expected term | 5.5 - 6.1 years |  | 5.8 - 6.1 years
Expected volatility | 90.2% - 96.5% |  | 93.0% - 106.2%
Risk free interest rate | 3.8% - 4.5% |  | 3.8% - 4.5%
Expected dividend yield | 0.0% |  | 0.0%
Schedule of Share-Based Compensation Expense | A summary of restricted stock unit activity is presented below:
| Number of Shares |  | Weighted-Average Grant Date Fair Value
Outstanding as of December 31, 2024 | — |  | $ | — |
Granted | 30,500 |  | 26.34 |
Vested | — |  | — |
Forfeited | (2,860) |  | 26.34 |
Outstanding as of December 31, 2025 | 27,640 |  | $ | 26.34 |
Share-based compensation expense was as follows (in thousands):
| Year Ended December 31,
| 2025 |  | 2024
Cost of sales | $ | 27 |  |  | $ | — |
Selling, general and administrative | 10,879 |  |  | 4,471 |
Research and development | 1,641 |  |  | 1,894 |
Total | $ | 12,547 |  |  | $ | 6,365 |

X
- References No definition available. + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of share-based payment arrangement. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_DisclosureOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration