XML 39 R24.htm IDEA: XBRL DOCUMENT
v3.26.1

Note 14 - Equity Incentive Plan | 12 Months Ended
--- | ---
Dec. 31, 2025
Notes to Financial Statements |
Share-Based Payment Arrangement [Text Block] | NOTE 14 – EQUITY INCENTIVE PLAN In August 2017, the Company approved and adopted the 2017 Equity Award Plan (the “2017 Plan”). The 2017 Plan permits the granting of stock options, stock appreciation rights, restricted and unrestricted stock awards, phantom stock, performance awards and other stock-based awards for the purpose of attracting and retaining quality employees, directors and consultants. Maximum awards available under the 2017 Plan were initially set at 3,000,000 shares. In October 2021, the Company announced it had registered an additional 4,368,733 shares of its common stock available for issuance under the 2017 Plan. On April 29, 2024, the Company filed a registration statement on Form S-8 solely to register an additional 7,912,216 shares of its common stock available for issuance under the 2017 Plan. This increase was approved by the Company’s Board of Directors on March 22, 2024, and by the Company’s stockholders on April 18, 2024 at the Company’s annual meeting. Stock-based compensation expense included in the consolidated statements of operations was as follows (dollars in thousands):
|  | Year ended December 31, |
|  | 2025 |  |  | 2024 |
Cost of revenue, excluding depreciation and amortization |  | $ | 5 |  |  | $ | 13 |
General and administrative expenses |  |  | 1,907 |  |  |  | 3,221 |
Selling and marketing expenses |  |  | 381 |  |  |  | 321 |
Research and development expenses |  |  | 615 |  |  |  | 1,274 |
Total stock-based compensation expense |  | $ | 2,908 |  |  | $ | 4,829 |
Stock Options Stock options granted under the 2017 Plan may be either incentive stock options (“ISOs”) or non-qualified stock options (“NSOs”). ISOs may be granted to employees and NSOs may be granted to employees, directors, or consultants. Stock options are granted at exercise prices as determined by the Board of Directors. The vesting period is generally three years with a contractual term of ten years. There was no stock compensation expense related to stock options for the years ended December 31, 2025 and 2024. A summary of stock option activity under the Company’s 2017 Plan for the years ended December 31, 2025 and 2024 is as follows:
|  | Number of Shares Subject to Option |  |  | Weighted Average Exercise Price |  |  | Weighted Average Remaining Contractual Term (Years) |  |  | Aggregate Intrinsic Value |
Outstanding balance at January 1, 2024 |  |  | 688,841 |  |  | $ | 1.20 |  |  |  | 3.70 |  |  | $ | 1,478,000 |
Exercised |  |  | (198,095 | ) |  |  | 1.34 |  |  |  |  |  |  |  |  |
Forfeited |  |  | - |  |  |  | - |  |  |  |  |  |  |  |  |
Expired |  |  | (3,880 | ) |  |  | 3.81 |  |  |  |  |  |  |  |  |
Outstanding balance at December 31, 2024 |  |  | 486,866 |  |  | $ | 1.13 |  |  |  | 3.76 |  |  | $ | 264,000 |
Exercised |  |  | (63,832 | ) |  |  | 1.14 |  |  |  |  |  |  |  |  |
Forfeited |  |  | - |  |  |  | - |  |  |  |  |  |  |  |  |
Expired |  |  | - |  |  |  | - |  |  |  |  |  |  |  |  |
Outstanding and exercisable balance at December 31, 2025 |  |  | 423,034 |  |  | $ | 1.12 |  |  |  | 2.63 |  |  | $ | 180,000 |
There were no options granted in the years ended December 31, 2025 and 2024. No shares became vested after grant during the years ended December 31, 2025 and 2024. As of December 31, 2025 and 2024, there was no unrecognized stock compensation expense related to stock options granted under the 2017 Plan. Restricted Stock Units Stock compensation expense related to RSU’s for the years ended December 31, 2025 and 2024 was $2,908,000 and $4,829,000, respectively, and was presented as part of operating expenses in the accompanying consolidated statements of operations. A summary of RSU activity under the Company’s 2017 Plan for years ended December 31, 2025 and 2024 is as follows:
|  | Number of Shares |  |  | Weighted Average Unit Price |  |  | Weighted Average Remaining Contractual Term (Years) |
Outstanding balance at January 1, 2024 |  |  | 1,747,458 |  |  | $ | 3.79 |  |  |  | 1.39 |
Granted |  |  | 5,556,649 |  |  |  | 1.17 |  |  |  | 1.15 |
Vested |  |  | (1,044,280 | ) |  |  | 4.29 |  |  |  | 0.41 |
Forfeited |  |  | (483,401 | ) |  |  | 1.86 |  |  |  | 1.53 |
Outstanding balance at December 31, 2024 |  |  | 5,776,426 |  |  | $ | 1.34 |  |  |  | 1.09 |
Granted |  |  | 234,950 |  |  |  | 1.41 |  |  |  | 2.64 |
Vested |  |  | (3,902,812 | ) |  |  | 1.42 |  |  |  | 0.09 |
Forfeited |  |  | (1,454,424 | ) |  |  | 1.02 |  |  |  | 0.36 |
Outstanding balance at December 31, 2025 |  |  | 654,140 |  |  | $ | 1.57 |  |  |  | 1.53 |
All RSUs granted vest upon the satisfaction of a service-based vesting condition. As of December 31, 2025, there was $753,000 of unrecognized stock compensation expense related to unvested RSUs granted under the 2017 Plan that will be recognized over an average remaining period of 1.53 years.

X
- Definition The entire disclosure for share-based payment arrangement. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (l) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h)(2)(i) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 4: http://www.xbrl.org/2003/role/exampleRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/718/tableOfContent Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_DisclosureTextBlockAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration