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Stock-Based Compensation (Tables)

9 Months Ended

Sep. 30, 2025

Stock-Based Compensation

Schedule of assumptions used in the fair value estimation of each option grant

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​	​	​	​	​	​	​
​	​	September 30,			​	​
​		2025		2024
Expected life (years)	​	3.7 - 4.8	​	3.8 - 4.9	​	​
Risk-free interest rate		3.6% - 4.0%	​	3.5% - 4.5%	​
Volatility	​	74.4% - 82.9%	​	68.9% - 74.9%	​	​
Dividend yield		0%	​	0%	​

Schedule of stock-based compensation expense related to all of our share-based payment awards

Total stock-based compensation expense related to all of our share-based payment awards is comprised of the following (in thousands):

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Three Months Ended September 30,

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Nine Months Ended September 30,

​

​

2025

2024

2025

2024

Cost of revenue

​

$

445

​

$

616

​

$

1,428

​

$

1,850

​

Selling, general and administrative

​

1,878

​

​

3,121

​

5,602

​

​

10,018

​

Engineering and development

​

203

​

​

319

​

605

​

​

1,055

​

​

​

$

2,526

​

$

4,056

​

$

7,635

​

$

12,923

​

Schedule of stock option activity

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​	​	​	​	​	​	​	​	​	​	​
​	​	​	​	​	​	​	Weighted-	​	​	​
​	​	​	​	Weighted-		​	Average	​	​	​
​	​	​	​	Average		​	Remaining	​	Aggregate
​	​	Number of	​	Exercise		​	Contractual	​	Intrinsic
​		Shares		Price/Share			Term (Years)		Value (1)
Outstanding — December 31, 2024	​	6,802,474	​	$	16.38	​	—	​	​	—
Granted (weighted-average fair value of $4.13 per share)	​	510,864	​	​	6.87	​	—	​	​	—
Exercised		(888,307)		​	4.47		—	​	​	—
Forfeited	​	(275,620)	​	​	25.52	​	—	​	​	—
Expired	​	(304,834)	​	​	18.20	​	—	​	​	—
Outstanding — September 30, 2025		5,844,577	​	$	16.83		3.7	​	$	7,083
Vested (exercisable) — September 30, 2025		5,127,641	​	$	17.52		3.4	​	$	5,923
Expected to vest after September 30, 2025 (unexercisable)		716,936	​	$	11.91		5.9	​	$	1,160

(1) Aggregate intrinsic value represents the difference between the exercise price of the option and the closing market price of the Company’s common stock on September 30, 2025 (the last trading day of the quarter), which was $9.48 per share.

Schedule of restricted stock unit activity

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​	​	​	​	​	​
​		​		Weighted Average
​	​	Number of Restricted	​	Fair Value per
​	​	Stock Units	​	Share
Outstanding — December 31, 2024		1,039,091	​	$	21.75
Granted		678,330	​		6.46
Share issuance		(383,957)	​		25.79
Forfeited		(214,625)	​		18.11
Expired	​	(4,019)	​	​	6.41
Outstanding — September 30, 2025		1,114,820	​	$	11.58

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Tabular disclosure of activity for award under share-based payment arrangement. Includes, but is not limited to, outstanding award at beginning and end of year, granted, exercised, forfeited, and weighted-average grant date fair value.

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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.

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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.

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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.

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