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Stockholders' Equity (Tables)
9 Months Ended
Sep. 30, 2025
Stockholders' Equity Note [Abstract]  
Schedule of Common Stock

In the three and nine months ended September 30, 2025 and 2024, no shares of Class B common stock were converted to Class A common stock. As of September 30, 2025, the par value of the Class A, Class B and Class C shares was $147, $14, and $3, respectively. As of December 31, 2024 the par value of the Class A, Class B and Class C shares was $139, $14 and $3, respectively.

 

 

 

 

 

 

September 30, 2025

 

 

December 31, 2024

 

 

 

Shares Authorized

 

 

Shares Issued and Outstanding

 

 

Shares Issued and Outstanding

 

Class A

 

 

1,000,000,000

 

 

 

14,672,254

 

 

 

13,922,877

 

Class B

 

 

100,000,000

 

 

 

1,369,518

 

 

 

1,369,518

 

Class C

 

 

200,000,000

 

 

 

277,777

 

 

 

277,777

 

 

 

 

1,300,000,000

 

 

 

16,319,549

 

 

 

15,570,172

 

Activity under Plans

Activity under the Plans is as follows:

 

 

 

Number of
Shares

 

 

Weighted
Average
Exercise Price

 

 

Weighted Average
Remaining
Contractual
Term (Years)

 

 

Aggregate
Intrinsic Value

 

Outstanding as of January 1, 2025

 

 

427,710

 

 

$

103.49

 

 

 

3.7

 

 

$

 

Forfeited

 

 

(60,366

)

 

$

91.13

 

 

 

 

 

 

 

Expired

 

 

(7,590

)

 

$

44.20

 

 

 

 

 

 

 

Outstanding as of September 30, 2025

 

 

359,754

 

 

$

106.81

 

 

 

3.1

 

 

$

 

Vested and expected to vest as of December 31, 2024

 

 

427,351

 

 

$

103.48

 

 

 

3.7

 

 

$

 

Vested and expected to vest as of September 30, 2025

 

 

359,534

 

 

$

106.81

 

 

 

3.1

 

 

$

 

Options exercisable as of December 31, 2024

 

 

427,490

 

 

$

103.49

 

 

 

3.7

 

 

$

 

Options exercisable as of September 30, 2025

 

 

359,754

 

 

$

106.81

 

 

 

3.1

 

 

$

 

Summary of Unvested Restricted Stock Unit Activity

Activity for the restricted stock units is as follows:

 

 

 

Shares

 

 

Weighted Average
Grant Date
Fair Value

 

Unvested as of January 1, 2025

 

 

1,354,040

 

 

$

30.01

 

Granted

 

 

1,069,533

 

 

 

9.35

 

Vested

 

 

(622,138

)

 

 

25.83

 

Forfeited

 

 

(432,927

)

 

 

28.55

 

Unvested as of September 30, 2025

 

 

1,368,508

 

 

$

16.18

 

Summary of Performance-based or Market Condition Share Awards

Activity for the restricted stock units with a performance or market condition is as follows:

 

 

 

Shares

 

 

Weighted Average
Grant Date
Fair Value

 

Unvested as of January 1, 2025

 

 

775,880

 

 

$

39.51

 

Granted

 

 

199,999

 

 

 

7.06

 

Cancelled/Forfeited

 

 

(25,722

)

 

 

43.73

 

Expired

 

 

(700,000

)

 

 

39.05

 

Unvested as of September 30, 2025

 

 

250,157

 

 

$

14.41

 

 

The total grant-date fair value of performance-based share units granted during the nine months ended September 30, 2025 was $1,438. There were no performance-based or market condition share awards granted during the nine months ended September 30, 2024.

Stock-Based Compensation Expense

Stock-based compensation expense, related to all of the Company's stock-based awards, was classified in the condensed consolidated statements of operations and comprehensive loss as follows:

 

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Cost of revenues

 

$

139

 

 

$

354

 

 

$

602

 

 

$

1,139

 

Research and development

 

$

1,055

 

 

 

1,659

 

 

$

4,216

 

 

 

5,283

 

Selling and marketing

 

$

391

 

 

 

1,165

 

 

$

1,555

 

 

 

4,323

 

General and administrative

 

 

2,442

 

 

 

7,421

 

 

 

11,002

 

 

 

25,920

 

Total

 

$

4,027

 

 

$

10,599

 

 

$

17,375

 

 

$

36,665