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Share-based Compensation (Tables) | 3 Months Ended
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Mar. 31, 2025
Share-Based Payment Arrangement [Abstract] |
Schedule of Share-based Compensation | The following table presents total share-based compensation expense within each functional line item on the condensed consolidated statements of operations for the three months end ed March 31, 2025 and 2024 (in thousands):
| Three Months Ended March 31, |  |
| 2025 |  | 2024 |  |  |  |
Cost of revenues | $ | 52 |  |  | $ | 25 |  |  |  |  |
Research and development | 268 |  |  | 160 |  |  |  |  |
Sales and marketing | 146 |  |  | 164 |  |  |  |  |
General and administrative | 1,135 |  |  | 339 |  |  |  |  |
Income from discontinued operations, net of tax | — |  |  | 29 |  |  |  |  |
Total | $ | 1,601 |  |  | $ | 717 |  |  |  |  |
Schedule of Stock Option Activity | The following table summarizes the Company’s stock option activity for the three months ended March 31, 2025:
Outstanding — December 31, 2024 | 269,851 |  |  |  |  |  |  |
Granted | 893,000 |  |  |  |  |  |  |
Exercised | (4,636) |  |  |  |  |  |  |
Canceled | (36,732) |  |  |  |  |  |  |
Outstanding — March 31, 2025 | 1,121,483 |  |  |  |  |  |  |
Exercisable — March 31, 2025 | 134,598 |  |  |  |  |  |  |
Schedule of Stock Options, Valuation Assumptions | The following table details the key assumptions utilized in the Monte Carlo simulation model used to calculate the grant-date fair value of the awards:
| January 6, 2025
Valuation date stock price | $ | 11.23 |
Simulation term (years) | 10
Risk-free interest rate | 4.57 | %
Volatility | 84.00 | %
Expected dividend yield | — | %
The following table details the key assumptions utilized in the Monte Carlo simulation model used to calculate the grant-date fair value of the Market-based CEO RSUs:
| January 6, 2025
Valuation date stock price | $ | 11.23 |
Simulation term (years) | 3
Risk-free interest rate | 4.25 | %
Volatility | 105.63 | %
Expected dividend yield | — | %
Correlation coefficient | 0.3741
Schedule of Restricted Stock Unit Activity | The following table summarizes the Company’s RSU activity for the three months ended March 31, 2025:
Non-vested — December 31, 2024 | 1,111,841 |
Granted | 338,776 |
Vested | (51,534) |
Forfeited | (81,277) |
Non-vested — March 31, 2025 | 1,317,806 |

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