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Stock-Based Compensation (Tables) | 12 Months Ended
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Dec. 31, 2025
Share-Based Payment Arrangement [Abstract] |
Schedule of Stock Option Activity | Stock option activity for the year ended December 31, 2025 is presented below (in thousands, except per share and contractual life amounts):
| Number of options |  | Weighted-average exercise price per share |  | Weighted-average remaining contractual life (in years) |  | Aggregate intrinsic value
Outstanding at December 31, 2024 | 3,563 |  |  | $ | 19.94 |  |  | 7.7 |  | $ | 678 |
Granted | 2,676 |  |  | 8.21 |  |  |  |  |
Exercised | (4) |  |  | 3.12 |  |  |  |  |
Forfeited/expired | (1,355) |  |  | 15.04 |  |  |  |  |
Outstanding at December 31, 2025 | 4,880 |  |  | $ | 14.89 |  |  | 7.9 |  | $ | 170 |
Exercisable at December 31, 2025 | 2,042 |  |  | $ | 20.06 |  |  | 6.5 |  | $ | 12 |
Vested and expected to vest at December 31, 2025 | 4,880 |  |  | $ | 14.89 |  |  | 7.9 |  | $ | 170 |
Schedule of Restricted Stock Units Activity | RSU activity for the year ended December 31, 2025 is presented below (in thousands, except per share amounts):
| Number of shares |  | Weighted-average grant date fair value per share
Unvested as of December 31, 2024 | 1,115 |  |  | $ | 18.55 |
Assumed through acquisition of Akoya (1) | 253 |  |  | 6.54 |
Granted | 1,619 |  |  | 7.76 |
Vested | (677) |  |  | 10.44 |
Forfeited | (735) |  |  | 13.58 |
Unvested as of December 31, 2025 | 1,575 |  |  | $ | 11.33 |
Expected to convert at December 31, 2025 | 1,575 |  |  | $ | 11.33 |
(1)Refer to Note 3 - Acquisitions.
Schedule of Share-based Compensation Expense for all Stock Awards | Stock-based compensation expense was recorded in the following categories on the Consolidated Statements of Operations (in thousands):
| Year Ended December 31,
| 2025 |  | 2024 |  | 2023
Cost of product revenue | $ | 901 |  |  | $ | 1,132 |  |  | $ | 839 |
Cost of service and other revenue | 970 |  |  | 1,142 |  |  | 1,124 |
Research and development | 2,178 |  |  | 2,117 |  |  | 1,713 |
Selling, general and administrative | 16,669 |  |  | 15,596 |  |  | 13,147 |
Total stock-based compensation expense | $ | 20,718 |  |  | $ | 19,987 |  |  | $ | 16,823 |
Schedule of Fair Value of Stock Options Granted to Employees and Non-Employees is Estimated on Grant Date using Black-Scholes Option-Pricing Model | The fair value of the Company’s stock options granted and purchase rights to the ESPP were estimated using the Black-Scholes valuation model with the following assumptions:
| Year Ended December 31,
| 2025 |  | 2024 |  | 2023
Stock Options: |  |  |  |  |
Risk-free interest rate | 3.7% - 4.4% |  | 3.4% - 4.6% |  | 3.5% - 4.7%
Expected dividend yield | None |  | None |  | None
Expected term (in years) | 5.4 - 5.7 |  | 5.3 - 5.4 |  | 5.0 - 5.2
Expected volatility | 82.1% - 84.5% |  | 81.4% - 83.1% |  | 71.1% - 83.1%
Weighted-average grant date fair value per share | $ | 5.85 |  |  | $ | 14.43 |  |  | $ | 10.63 |
Employee Stock Purchase Plan: |  |  |  |  |
Risk-free interest rate | 3.8% - 4.0% |  | 4.3% - 4.9% |  | 5.2% - 5.5%
Expected dividend yield | None |  | None |  | None
Expected term (in years) | 0.5 |  | 0.5 |  | 0.5
Expected volatility | 72.3% - 91.1% |  | 54.9% - 66.0% |  | 72.8% - 82.5%
Weighted-average grant date fair value per share | $ | 1.39 |  |  | $ | 3.84 |  |  | $ | 3.19 |

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