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Stock-Based Compensation (Tables) | 9 Months Ended
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Sep. 30, 2025
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
Summary of Stock Options Activity | The following table summarizes the stock option activity for the nine months ended September 30, 2025 (in thousands, except share and per share data):
|  | Number of Shares |  |  | Weighted Average Exercise Price per Share |  |  | Weighted Average Remaining Contractual Term (in years) |  |  | Aggregate Intrinsic Value (in thousands) |
Outstanding at January 1, 2025 |  |  | 3,992,335 |  |  | $ | 4.99 |  |  |  | 6.86 |  |  | $ | 19,318 |
Granted |  |  | 1,439,255 |  |  | $ | 7.81 |  |  |  |  |  |  |
Exercised |  |  | (20,677 | ) |  | $ | 2.37 |  |  |  |  |  |  |
Forfeited |  |  | (67,769 | ) |  | $ | 7.64 |  |  |  |  |  |  |
Expired |  |  | (32,536 | ) |  | $ | 10.78 |  |  |  |  |  |  |
Outstanding at September 30, 2025 |  |  | 5,310,608 |  |  | $ | 5.69 |  |  |  | 6.95 |  |  | $ | 16,469 |
Exercisable at September 30, 2025 |  |  | 3,083,268 |  |  | $ | 2.31 |  |  |  | 6.07 |  |  | $ | 12,332 |
Vested and expected to vest at September 30, 2025 |  |  | 5,025,926 |  |  | $ | 3.74 |  |  |  | 7.16 |  |  | $ | 14,836 |
Schedule of Weighted-Average Assumptions used in Black-Scholes Option-Pricing Model | The weighted average assumptions used in the Black-Scholes pricing model for stock options granted during the three and nine months ended September 30, 2025 and 2024, were as follows:
|  | For the Three Months Ended September 30, |  |  | For the Nine Months Ended September 30, |
|  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |
Estimated dividend yield |  |  | - | % |  |  | - | % |  |  | - | % |  |  | - | %
Weighted-average expected stock price volatility |  |  | 36.58 | % |  |  | 36.05 | % |  |  | 36.06 | % |  |  | 35.91 | %
Weighted-average risk-free interest rate |  |  | 4.16 | % |  |  | 3.49 | % |  |  | 4.33 | % |  |  | 4.33 | %
Expected average term of options (in years) |  |  | 6.25 |  |  |  | 6.25 |  |  |  | 6.16 |  |  |  | 6.25 |
Weighted-average fair value of common stock |  | $ | 4.44 |  |  | $ | 4.40 |  |  | $ | 7.81 |  |  | $ | 2.86 |
Weighted-average fair value per option |  | $ | 1.94 |  |  | $ | 1.84 |  |  | $ | 3.39 |  |  | $ | 1.24 |
Schedule of Restricted Stock Unit Activity | The following table summarizes the restricted stock unit activity for the nine months ended September 30, 2025 (in thousands, except share and per share data):
|  | Number of Shares |  |  | Weighted Average Grant Date Fair Value per Share |  |  | Weighted Average Remaining Contractual Term (in years) |  |  | Aggregate Intrinsic Value (in thousands) |
Outstanding at January 1, 2025 |  |  | 127,611 |  |  | $ | 3.47 |  |  |  | 0.84 |  |  | $ | 1,066 |
Granted |  |  | — |  |  | $ | — |  |  |  |  |  |  |
Vested |  |  | (82,538 | ) |  | $ | 2.42 |  |  |  |  |  |  |
Forfeited |  |  | — |  |  | $ | — |  |  |  |  |  |  |
Outstanding at September 30, 2025 |  |  | 45,073 |  |  | $ | 5.41 |  |  |  | 0.91 |  |  | $ | 279 |
Vested and expected to vest at September 30, 2025 |  |  | 45,073 |  |  | $ | 5.41 |  |  |  | 0.91 |  |  | $ | 279 |
Schedule of Stock-Based Compensation Expense | Stock-based compensation expense included in the accompanying condensed financial statements was as follows (in thousands):
|  | For the Three Months Ended September 30, |  |  | For the Nine Months Ended September 30, |
|  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |
Cost of sales |  | $ | 29 |  |  | $ | 10 |  |  | $ | 85 |  |  | $ | 89 |
Research and development |  |  | 14 |  |  |  | 18 |  |  |  | 13 |  |  |  | 65 |
Sales and marketing |  |  | 61 |  |  |  | 33 |  |  |  | 166 |  |  |  | 162 |
General and administrative |  |  | 746 |  |  |  | 699 |  |  |  | 2,388 |  |  |  | 2,584 |
Total stock-based compensation expense |  | $ | 850 |  |  | $ | 760 |  |  | $ | 2,652 |  |  | $ | 2,900 |

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