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STOCK-BASED COMPENSATION (Tables) | 6 Months Ended | 12 Months Ended
--- | --- | ---
Jun. 30, 2025 | Dec. 31, 2024
Share-Based Payment Arrangement [Abstract] |  |
Schedule of Stock-Based Compensation Expense | Total stock-based compensation expense recognized in the Company’s condensed consolidated statements of operations is classified as follows:
|  | Three months ended June 30, |  |  | Six Months Ended June 30, |
|  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |
Cost of revenue |  | $ | — |  |  | $ | 119,880 |  |  | $ | 105,734 |  |  | $ | 245,512 |
Research and development |  |  | — |  |  |  | 126,864 |  |  |  | 93,425 |  |  |  | 265,914 |
Selling and marketing |  |  | 6,381 |  |  |  | (280,124 | ) |  |  | 202,869 |  |  |  | (199,199 | )
General and administrative |  |  | 291,101 |  |  |  | 483,952 |  |  |  | 392,618 |  |  |  | 752,460 |
Total stock-based compensation expense |  | $ | 297,482 |  |  | $ | 450,572 |  |  | $ | 794,646 |  |  | $ | 1,064,687 |
| Total stock-based compensation expense recognized in the Company’s consolidated statements of operations is classified as follows:
|  | Year ended December 31, |
|  | 2024 |  |  | 2023 |
Cost of revenue |  | $ | 466,658 |  |  | $ | 640,847 |
Research and development |  |  | 476,666 |  |  |  | 617,386 |
Selling and marketing (1) |  |  | (181,160 | ) |  |  | 266,675 |
General and administrative |  |  | 1,103,931 |  |  |  | 965,501 |
Total stock-based compensation expense |  | $ | 1,866,095 |  |  | $ | 2,490,409 |
_______________ (1) Includes the reversal of stock compensation expense due to the departure of our Chief Marketing and Sales Officer in April 2024 and the resultant forfeiture of his unvested awards.
Schedule of Restricted Stock Units | The following table shows a summary of the Company's RSUs outstanding as of June 30, 2025 and December 31, 2024 as well as activity the period then ended:
|  | RSUs |
|  | Number of Shares |  |  | Weighted Average Grant Date Fair Value |
Unvested at December 31, 2024 |  |  | 4,562 |  |  | $ | 223.07 |
RSUs vested |  |  | (1,869 | ) |  | $ | 223.21 |
RSUs forfeited |  |  | (275 | ) |  | $ | 36.42 |
Unvested at June 30, 2025 |  |  | 2,418 |  |  | $ | 244.19 |
| The following table shows a summary of the Company's RSUs outstanding as of December 31, 2024 as well as activity the year then ended:
|  | RSUs |
|  | Number of Shares |  |  | Weighted Average Grant Date Fair Value |
Unvested at December 31, 2023 |  |  | 22,213 |  |  | $ | 208.80 |
RSUs granted |  |  | 45,725 |  |  | $ | 5.38 |
RSUs vested |  |  | (52,789 | ) |  | $ | 24.33 |
RSUs forfeited |  |  | (10,587 | ) |  | $ | 94.46 |
Unvested at December 31, 2024 |  |  | 4,562 |  |  | $ | 223.07 |
The
Summary of Stock Options Activity | A summary of stock option activity is as follows:
|  | Number of Stock Options Outstanding |  |  | Weighted-Average Exercise Price |  |  | Weighted-Average Remaining Contractual Life (Years) |  |  | Aggregate Intrinsic Value |
Options outstanding at December 31, 2024 |  |  | 218,430 |  |  | $ | 40.80 |  |  |  | 7.1 |  |  | $ | 7,375.15 |
Options cancelled or forfeited |  |  | (82,919 | ) |  | $ | 23.99 |  |  |  |  |  |  |
Options outstanding at June 30, 2025 |  |  | 135,511 |  |  | $ | 51.08 |  |  |  | 4.6 |  |  | $ | — |
Options exercisable at June 30, 2025 |  |  | 95,254 |  |  | $ | 63.62 |  |  |  | 2.9 |  |  | $ | — |
Options vested and expected to vest at June 30, 2025 |  |  | 135,511 |  |  | $ | 51.08 |  |  |  | 4.6 |  |  | $ | — |
| A summary of stock option activity is as follows:
|  | Number of Stock Options Outstanding |  |  | Weighted-Average Exercise Price |  |  | Weighted-Average Remaining Contractual Life (Years) |  |  | Aggregate Intrinsic Value |
Options outstanding at December 31, 2023 |  |  | 188,865 |  |  | $ | 74.41 |  |  |  | 7.9 |  |  | $ | — |
Options granted |  |  | 64,564 |  |  | $ | 2.77 |  |  |  |  |  |  |
Options exercised |  |  | — |  |  | $ | — |  |  |  |  |  |  |
Options cancelled or forfeited |  |  | (34,999 | ) |  | $ | 152.01 |  |  |  |  |  |  |
Options outstanding at December 31, 2024 |  |  | 218,430 |  |  | $ | 40.80 |  |  |  | 7.1 |  |  | $ | 7,375.15 |
Options exercisable at December 31, 2024 |  |  | 143,214 |  |  | $ | 49.70 |  |  |  | 6.1 |  |  | $ | 7,375.15 |
Options vested and expected to vest at December 31, 2024 |  |  | 218,430 |  |  | $ | 40.80 |  |  |  | 7.0 |  |  | $ | 7,375.15 |
Summary of Assumptions Utilized for Option Grants | A summary of the weighted-average assumptions the Company u tilized for option grants during the six months ended June 30, 2025 and 2024, respectively, are as follows:
|  | Six Months Ended June 30,
|  | 2025 |  | 2024
Expected term (in years) |  | N/A |  | 4.0
Expected volatility |  | N/A |  | 47.8%
Risk-free interest rate |  | N/A |  | 4.0%
Expected dividend yield |  | N/A |  | 0.0%
| A summary of the assumptions the Company utilized for option grants during the years ended December 31, 2024 and 2023, respectively, are as follows:
|  | Year ended December 31,
|  | 2024 |  | 2023
Expected term (in years) |  | 4.0 |  | 0.75-5.0
Expected volatility |  | 47.8% - 55.0% |  | 44.9%-47.6%
Risk-free interest rate |  | 4.0% - 4.5% |  | 3.8%-5.5%
Expected dividend yield |  | 0.0% |  | 0.0%

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