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Stock-Based Compensation (Tables)
9 Months Ended
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