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Stock-Based Compensation (Tables) | 9 Months Ended
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Sep. 30, 2024
Stock-Based Compensation |
Summary of Stock Option Activity | Stock options outstanding under the 2024 Plan were as follows (in thousands, except per share amounts and years):
|  | Number of Options Outstanding |  |  | Weighted Average Exercise Price |  |  | Weighted Average Remaining Contractual Lif (in Years) |  |  | Aggregate Intrinsic Value |
Balance as of December 31, 2023 |  |  | 3,579 |  |  | $ | 0.02 |  |  |  | 5.5 |  |  | $ | 4,045 |
Reverse recapitalization |  |  | (2,911 | ) |  |  | 0.09 |  |  |  | — |  |  |  | — |
Balance as of December 31, 2023(1) |  |  | 668 |  |  |  | 0.11 |  |  |  | 5.5 |  |  |  | 4,045 |
Exercised |  |  | (118 | ) |  |  | 0.11 |  |  |  |  |  |  |
Balance as of September 30, 2024 |  |  | 550 |  |  | $ | 0.11 |  |  |  | 4.6 |  |  | $ | 1,785 |
Vested and expected to vest as of September 30, 2024 |  |  | 550 |  |  | $ | 0.11 |  |  |  | 4.6 |  |  | $ | 1,785 |
Exercisable as of September 30, 2024 |  |  | 533 |  |  | $ | 0.11 |  |  |  | 4.5 |  |  | $ | 1,729 |
(1) Amounts as of December 31, 2023 differ from those in prior year consolidated financial statements as they were retrospectively adjusted as a result of the accounting for the Business Combination (see Note 3).
Summary of RSUs Activity | RSUs outstanding under the 2024 Plan were as follows (in thousands, except per share amounts):
|  | Number of RSUs Outstanding |  |  | Weighted Average Grant Date Fair Value |
Balance as of December 31, 2023 |  |  | 2,100 |  |  | $ | 1.15 |
Reverse recapitalization |  |  | (1,708 | ) |  |  | 5.01 |
Balances as of December 31, 2023(1) |  |  | 392 |  |  | $ | 6.16 |
Granted |  |  | 221 |  |  |  | 3.69 |
Cancelled |  |  | (2 | ) |  |  | 6.16 |
Balance as of September 30, 2024 |  |  | 611 |  |  | $ | 5.26 |
(1) Amounts as of December 31, 2023 differ from those in prior year consolidated financial statements as they were retrospectively adjusted as a result of the accounting for the Business Combination (see Note 3).
Schedule of Stock-Based Compensation Allocation | The following table summarizes stock-based compensation included in the Company’s condensed consolidated statements of operations:
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
|  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
Cost of revenues |  |  | 33 |  |  |  | — |  |  |  | 33 |  |  |  | — |
Research and development |  |  | 135 |  |  |  | 1 |  |  |  | 389 |  |  |  | 3 |
Sales and marketing |  |  | 36 |  |  |  | 1 |  |  |  | 108 |  |  |  | 3 |
General and administrative |  |  | 369 |  |  |  | 1 |  |  |  | 1,589 |  |  |  | 2 |
Total |  | $ | 573 |  |  | $ | 3 |  |  | $ | 2,119 |  |  | $ | 8 |

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