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Stock-Based Compensation (Tables) | 12 Months Ended
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Dec. 31, 2024
Stock-Based Compensation [Abstract] |
Schedule of RSU Activities | A summary of RSU activities for the year ended December 31, 2024 are presented below:
|  | Number of Shares |  |  | Weighted Average Grant Date Fair Value per Share |
Nonvested as of January 1, 2024 |  |  | 58,197 |  |  | $ | 4.65 |
Granted |  |  | 550,000 |  |  | $ | 1.98 |
Vested |  |  | (129,097 | ) |  | $ | 0.99 |
Forfeited |  |  | (309,699 | ) |  | $ | 2.24 |
Nonvested as of December 31, 2024 |  |  | 169,401 |  |  | $ | 1.73 |
Schedule of Assumptions for Stock Options Granted | In applying the Black Scholes option pricing model, the Company used the following assumptions for stock options granted during the years ended December 31, 2024 and 2023:
|  | Year ended December 31, 2024 |  |  | Year ended December 31, 2023 |
Fair value of common stock |  | $ | 1.51 |  |  | $ | 4.57 |
Expected term (years) |  |  | 4.8 |  |  |  | 6.0 |
Volatility (annual) |  |  | 66 | % |  |  | 72 | %
Risk-free rate |  |  | 4.2 | % |  |  | 3.6 | %
Dividend yield (per share) |  |  | 0 | % |  |  | 0 | %
Schedule of Stock Options Activity | A summary of stock options activity for the year ended December 31, 2024 is presented below:
|  | Stock Options |  |  | Weighted Average Exercise Price |  |  | Weighted Average Remaining Contractual Life (in years) |  |  | Aggregate Intrinsic Value (in thousands) |
Outstanding at January 1, 2024 |  |  | 3,598,944 |  |  | $ | 2.20 |  |  |  | 6.5 |  |  | $ | 8,087 |
Options granted |  |  | 643,437 |  |  | $ | 1.55 |  |  |  |  |  |  |  |  |
Options forfeited |  |  | 156,156 | ) |  | $ | 3.88 |  |  |  |  |  |  |  |  |
Options cancelled |  |  | (209,880 | ) |  | $ | 3.56 |  |  |  |  |  |  |  |  |
Options exercised |  |  | (281,857 | ) |  | $ | 1.07 |  |  |  |  |  |  |  |  |
Outstanding as of December 31, 2024 |  |  | 3,594,488 |  |  | $ | 2.01 |  |  |  | 6.0 |  |  |  | 3,825 |
Options vested and exercisable as of December 31, 2024 |  |  | 2,941,842 |  |  | $ | 1.87 |  |  |  | 5.5 |  |  |  | 3,285 |

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- Definition Tabular disclosure of the number and weighted-average grant date fair value for restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock units that were granted, vested, or forfeited during the year. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
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- Definition Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (e) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
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