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Stock-based Compensation (Tables)
12 Months Ended
Dec. 31, 2025
Schedule of Stock Options Activity

The following table summarized the stock option activity and related information under all stock option plans:

 

 

Number of
Options

 

 

Weighted-
Average
Exercise
Price

 

 

Weighted-
Average
Remaining
Contractual
Life (Years)

 

 

Aggregate
Intrinsic Value
(in thousands)

 

Outstanding as of December 31, 2022

 

 

2,686,835

 

 

$

3.34

 

 

 

6.77

 

 

$

11,593

 

Exercised

 

 

(131,444

)

 

 

1.80

 

 

 

 

 

 

 

Forfeited

 

 

(140,661

)

 

 

14.26

 

 

 

 

 

 

 

Outstanding as of December 31, 2023

 

 

2,414,730

 

 

$

2.79

 

 

 

5.73

 

 

$

4,004

 

Exercised

 

 

(43,660

)

 

 

1.81

 

 

 

 

 

 

 

Forfeited

 

 

(398

)

 

 

2.74

 

 

 

 

 

 

 

Outstanding as of December 31, 2024

 

 

2,370,672

 

 

$

2.81

 

 

 

4.75

 

 

$

6,055

 

Exercised

 

 

(54,255

)

 

 

2.36

 

 

 

 

 

 

 

Outstanding as of December 31, 2025

 

 

2,316,417

 

 

$

2.81

 

 

 

3.76

 

 

$

24,431

 

Vested and exercisable as of December 31, 2025

 

 

2,313,355

 

 

$

2.80

 

 

 

3.75

 

 

$

24,431

 

Vested and expected to vest as of December 31,
   2025

 

 

2,316,417

 

 

$

2.81

 

 

 

3.76

 

 

$

24,431

 

Schedule of Fair Value Weighted-Average Assumptions The Company estimated the fair value of the market-based PBRSUs award on the grant date using the Monte Carlo simulation model with the following assumptions:

 

 

 

 

 

Expected term (years)

 

0.5 - 4.7

 

Expected volatility

 

 

70.9

%

Risk-free interest rate

 

 

3.29

%

Dividend yield

 

 

0

%

Share price

 

$

5.10

 

Schedule of Restricted Stock Activity

The following table summarizes the Company’s RSU activity for the year ended December 31, 2025:

 

 

Shares

 

 

Weighted Average
Grant Date Fair
Value per Share

 

Outstanding as of December 31, 2022

 

 

2,388,909

 

 

$

26.11

 

Granted

 

 

5,143,160

 

 

 

6.04

 

Released

 

 

(1,205,704

)

 

 

18.87

 

Forfeited

 

 

(1,126,554

)

 

 

18.21

 

Outstanding as of December 31, 2023

 

 

5,199,811

 

 

$

9.65

 

Granted

 

 

4,502,661

 

 

 

3.57

 

Released

 

 

(1,921,646

)

 

 

10.91

 

Forfeited

 

 

(1,230,957

)

 

 

7.63

 

Outstanding as of December 31, 2024

 

 

6,549,869

 

 

$

5.48

 

Granted

 

 

4,709,367

 

 

 

7.90

 

Released

 

 

(2,799,331

)

 

 

6.65

 

Forfeited

 

 

(1,322,632

)

 

 

6.13

 

Outstanding as of December 31, 2025

 

 

7,137,273

 

 

$

6.51

 

Summary of Stock-Based Compensation Expense

Total stock-based compensation expense by function was as follows (in thousands):

 

 

Year ended December 31,

 

 

2025

 

 

2024

 

 

2023

 

Cost of revenue

 

$

414

 

 

$

279

 

 

$

965

 

Research and development expenses

 

 

12,794

 

 

 

16,657

 

 

 

16,760

 

General and administrative expenses

 

 

7,969

 

 

 

5,875

 

 

 

5,131

 

Sales and marketing expenses

 

 

666

 

 

 

897

 

 

 

819

 

Total

 

$

21,843

 

 

$

23,708

 

 

$

23,675