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Share-Based Compensation (Tables)
 6 Months Ended
Jun. 30, 2025
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]  
Summary of Share-based Compensation Expense

Share-based compensation expense reported in the Company’s condensed statements of operations was (in thousands):

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Direct costs and expenses

 

$

22

 

 

$

19

 

 

$

65

 

 

$

35

 

Research and development

 

 

113

 

 

 

105

 

 

 

183

 

 

 

130

 

Sales, marketing, general and administrative

 

 

904

 

 

 

1,094

 

 

 

1,763

 

 

 

3,693

 

Total

 

$

1,039

 

 

$

1,218

 

 

$

2,011

 

 

$

3,858

 
Summary of Stock Option Activity

Stock option activity during the six months ended June 30, 2025, excluding the Bonus Option Program described below, was (in thousands, except weighted average exercise price and weighted average contractual life):

 

 

Number of
Options

 

 

Weighted Average
Exercise Price

 

 

Weighted Average
Contractual
Life (Years)

 

 

Aggregate
Intrinsic
Value

 

Outstanding - January 1, 2025

 

 

4,163

 

 

$

2.49

 

 

 

7.7

 

 

$

964

 

Granted

 

 

2,884

 

 

 

0.84

 

 

 

—

 

 

 

—

 

Forfeited/canceled

 

 

(187

)

 

 

1.53

 

 

 

—

 

 

 

—

 

Exercised

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Outstanding ‑ June 30, 2025

 

 

6,860

 

 

$

1.82

 

 

 

8.2

 

 

$

3

 

Exercisable ‑ June 30, 2025

 

 

2,769

 

 

$

2.72

 

 

 

6.7

 

 

$

1

 
Summary of Restricted Stock Units Activity

Restricted stock unit activity during the six months ended June 30, 2025 was (in thousands, except weighted average grant date fair value per share):

 

 

Number of Shares

 

 

Weighted Average
Grant Date Fair Value Per Share

 

Outstanding ‑ January 1, 2025

 

 

3,771

 

 

$

1.84

 

Granted

 

 

1,255

 

 

 

0.68

 

Forfeited/canceled

 

 

(19

)

 

 

2.22

 

Released

 

 

(627

)

 

 

1.95

 

Outstanding ‑ June 30, 2025

 

 

4,380

 

 

$

1.49

 
Bonus-To-Options Program  
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]  
Summary of Stock Option Activity As part of the Bonus Option Program, the Company recorded the following activity during the six months ended June 30, 2025 (in thousands, except weighted average exercise price and weighted average contractual life):

 

 

Number of
Options

 

 

Weighted Average
Exercise Price

 

 

Weighted Average
Contractual
Life (Years)

 

 

Aggregate
Intrinsic
Value

 

Outstanding ‑ January 1, 2025

 

 

1,364

 

 

$

2.04

 

 

 

8.0

 

 

$

35

 

Granted

 

 

712

 

 

 

0.92

 

 

 

—

 

 

 

—

 

Forfeited/canceled

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Exercised

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Outstanding ‑ June 30, 2025

 

 

2,076

 

 

$

1.66

 

 

 

8.2

 

 

$

—

 

Exercisable ‑ June 30, 2025

 

 

2,076

 

 

$

1.66

 

 

 

8.2

 

 

$

—