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Share Based Awards | 3 Months Ended
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Mar. 31, 2026
Share-Based Payment Arrangement [Abstract] |
Share Based Awards | Share Based Awards The 2019 Equity Incentive Plan (the “2019 Plan”) and the 2024 Omnibus Equity Incentive Plan (the “2024 Plan”) (collectively, the “Plans”) allow us to incentivize key employees, consultants, and directors with long term compensation awards such as stock options, restricted stock, and restricted stock units (collectively, the “Awards”). The number of shares issuable in connection with Awards under the 2019 Plan were not to exceed 11,750,000. However, no shares are issuable under the 2019 Plan after the 2024 Plan became effective on October 15, 2024. The number of shares issuable in connection with Awards under the 2024 Plan may not exceed 24,603,000 plus any underlying forfeited 2019 Plan awards. A.Options No options were granted during the three months ended March 31, 2026. A summary of options activity under the Plan is as follows:
| Shares (in thousands) |  | Weighted- Average Exercise Price |  | Weighted- Average Remaining Contractual Term |  | Aggregate Intrinsic Value (in thousands)
Outstanding as of December 31, 2025 | 4,701 |  |  | $ | 4.14 |  |  | 8.04 |  | $ | 18,616 |
Granted | — |  |  | — |  |  |  |  |
Exercised | (372) |  |  | 1.31 |  |  |  |  |
Forfeited or expired | (24) |  |  | 5.89 |  |  |  |  |
Outstanding as of March 31, 2026 | 4,305 |  |  | 4.38 |  |  | 8.05 |  | 37,505 |
Exercisable as of March 31, 2026 | 988 |  |  | $ | 2.65 |  |  | 6.54 |  | $ | 10,311 |
The aggregate intrinsic value of outstanding options represents the excess of the stock price at the indicated date over the exercise price of each option. As of March 31, 2026, there was $10.8 million of unrecognized stock-based compensation expense related to unvested stock options which is expected to be recognized over the weighted average periods of 1.39 years. B.Restricted Stock A summary of restricted stock activity under the Plan is as follows:
| Shares (in thousands) |  | Weighted Average Grant-Date Fair Value Per Share
Unvested and outstanding as of December 31, 2025 | 2,124 |  |  | $ | 5.67 |
Granted | 356 |  |  | 11.81 |
Vested | (111) |  |  | 10.04 |
Forfeited | (20) |  |  | 8.34 |
Unvested and outstanding as of March 31, 2026 | 2,349 |  |  | $ | 6.38 |
As of March 31, 2026, there was $10.7 million of unrecognized stock-based compensation expense related to unvested restricted stock units which is expected to be recognized over the weighted average periods of 1.48 years. C.Stock Compensation Stock compensation expense for the three months ended March 31 by functional operating expense was (in thousands):
| 2026 |  | 2025
Research and development | $ | 929 |  |  | $ | 174 |
Sales and marketing | 597 |  |  | 863 |
General and administrative | 3,291 |  |  | 562 |
Total | $ | 4,817 |  |  | $ | 1,599 |
Stock compensation expense pertaining to options totaled $1.9 million for the three months ended March 31, 2026. Stock compensation expense pertaining to restricted stock totaled $2.9 million for the three months ended March 31, 2026. Stock compensation expense pertaining to options totaled $0.8 million for the three months ended March 31, 2025. Stock compensation expense pertaining to restricted stock totaled $0.8 million for the three months ended March 31, 2025.

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