XML 22 R12.htm IDEA: XBRL DOCUMENT
v3.25.3

Stock-Based Compensation | 9 Months Ended
--- | ---
Sep. 30, 2025
Share-Based Payment Arrangement [Abstract] |
Stock-Based Compensation | 6. Stock-Based Compensation Share-Based Compensation Expense The following table presents the details of the Company’s share-based compensation expense (in thousands):
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
General and administrative | $ | 678 |  |  | $ | 632 |  |  | $ | 2,083 |  |  | $ | 2,592 |
Research and development | 424 |  |  | 710 |  |  | 1,358 |  |  | 1,979 |
Sales and marketing | 144 |  |  | 190 |  |  | 454 |  |  | 537 |
Cost of sales | 161 |  |  | — |  |  | 508 |  |  | — |
Total stock-based compensation | $ | 1,407 |  |  | $ | 1,532 |  |  | $ | 4,403 |  |  | $ | 5,108 |
Summary of Stock Option Activity The following table summarizes the stock option activity for the nine months ended September 30, 2025:
| Options Outstanding
| Number of Options |  | Weighted- Average Exercise Price Per Share |  | Weighted- Average Remaining Contractual Life (years) |  | Aggregate Intrinsic Value (In thousands)
Balance—December 31, 2024 | 1,521,857 |  | $ | 6.04 |  |  | 5.9 |  | $ | 1,507 |
Options granted | — |  |  |  |  |  |
Options exercised | (82,823) |  | $ | 4.26 |  |  |  |  | $ | 194 |
Options cancelled/forfeited | (14,144) |  | $ | 7.20 |  |  |  |  |
Balance—September 30, 2025 | 1,424,890 |  | $ | 6.13 |  |  | 5.2 |  | $ | 4,569 |
Options exercisable—September 30, 2025 | 1,383,891 |  | $ | 6.07 |  |  | 5.1 |  | $ | 4,518 |
The total grant date fair value of options vested was $0.2 million and $0.3 million during the three months ended September 30, 2025 and 2024, respectively, and $0.5 million and $0.9 million during the nine months ended September 30, 2025 and 2024, respectively. No options were granted in the three and nine months ended September 30, 2025 or 2024, respectively. As of September 30, 2025, there was $0.2 million of total unrecognized stock-based compensation expense related to unvested options which is expected to be recognized over a weighted-average period of 0.45 years. Stock-based compensation cost for options capitalized within inventory at September 30, 2025 and 2024 was not material. 2016 Employee Stock Purchase Plan In January 2025, there was an increase of 220,596 shares reserved for issuance under the Company’s Employee Stock Purchase Plan (ESPP) pursuant to the terms of the ESPP. The Company had 1,191,215 shares available for future issuance under the ESPP as of September 30, 2025. Employees did not purchase any shares during the three months ended September 30, 2025 and 2024, respectively. Employees purchased 61,181 shares for $254,000 during the nine months ended September 30, 2025. Employees purchased 37,696 shares for $241,000 during the nine months ended September 30, 2024. Restricted Stock Units The following table summarizes restricted stock units (RSUs) activity for the nine months ended September 30, 2025:
| RSUs Outstanding
| Number of Restricted Stock Units |  | Weighted- Average Grant Date Fair Value Per Share
Balance—December 31, 2024 | 987,965 |  | $ | 7.89 |
Granted | 996,561 |  | $ | 5.80 |
Vested | (553,328) |  | $ | 7.24 |
Cancelled/forfeited | (23,674) |  | $ | 6.96 |
Balance—September 30, 2025 | 1,407,524 |  | $ | 6.68 |
The fair value of RSUs is determined on the date of grant based on the market price of the Company’s common stock on that date. As of September 30, 2025, there was $8.2 million of unrecognized stock-based compensation expense related to RSUs to be recognized over a weighted-average period of 2.7 years. Stock-based compensation cost related to RSUs capitalized within inventory at September 30, 2025 and 2024 was not material.

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_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration