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Stock Plan (Tables) | 3 Months Ended
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Mar. 31, 2026
Share-Based Payment Arrangement [Abstract] |
Summary of Stock-Based Compensation Expense | For the three months ended March 31, 2026 and 2025, the Company recorded stock-based compensation expense as follows (in thousands):
|  | Three Months Ended March 31, |
|  | 2026 |  |  | 2025 |
Cost of product revenue |  | $ |  | 14 |  |  | $ |  | 8 |
Cost of service and other revenue |  |  |  | 22 |  |  |  |  | 13 |
Research and development |  |  |  | 392 |  |  |  |  | 229 |
Selling, general and administrative |  |  |  | 1,039 |  |  |  |  | 369 |
Total stock-based compensation expense |  | $ |  | 1,467 |  |  | $ |  | 619 |
Summary of Stock Option Activity | Stock option activity for the three months ended March 31, 2026 was as follows:
|  |  |  |  |  |  |  |  |  |  | Aggregate |
|  |  |  |  | Exercise |  |  | Remaining |  |  | intrinsic |
|  | Options |  |  | price per |  |  | contractual |  |  | value |
|  | outstanding |  |  | share |  |  | life (in years) |  |  | (in thousands) |
Balance outstanding, December 31, 2025 |  |  | 5,842,551 |  |  | $ | 3.18 |  |  |  | 8.27 |  |  | $ | 25,767 |
Options granted |  |  | 1,433,765 |  |  | $ | 7.59 |  |  |  |  |  |  |
Options exercised |  |  | (824,237 | ) |  | $ | 2.85 |  |  |  |  |  |  |
Options cancelled/forfeited/expired |  |  | (14,832 | ) |  | $ | 3.78 |  |  |  |  |  |  |
Balance outstanding, March 31, 2026 |  |  | 6,437,247 |  |  | $ | 4.21 |  |  |  | 8.37 |  |  | $ | 56,256 |
Vested and expected to vest at March 31, 2026 |  |  | 6,785,106 |  |  | $ | 4.16 |  |  |  | 8.39 |  |  | $ | 59,223 |
Exercisable at March 31, 2026 |  |  | 3,318,094 |  |  | $ | 2.97 |  |  |  | 7.60 |  |  | $ | 29,512 |
Summary of Estimated Fair Value of Stock Options Granted Under Weighted-Average Assumptions | The Company estimated the fair value of stock options granted during the three months ended March 31, 2026 and 2025, using the Black-Scholes option pricing model with the following weighted-average assumptions:
|  | Three Months Ended March 31, |
|  | 2026 |  | 2025 |
Expected dividend yield |  |  | 0.0 |  | % |  |  | 0.0 |  | % |
Risk-free interest rate |  |  | 3.87 |  | % |  |  | 4.45 |  | % |
Expected volatility |  |  | 68.3 |  | % |  |  | 83.1 |  | % |
Expected term (in years) |  |  | 6.0 |  |  |  |  | 6.0 |  |  |
Summary of Stock Activity for Grants of Restricted Stock Awards | Stock activity during the three months ended March 31, 2026 for grants of restricted stock awards (“RSAs”) to employees outside of the Stock Plan was as follows:
|  |  |  |  | Weighted- |
|  | RSAs |  |  | average |
|  | outstanding |  |  | grant date FV |
Balance outstanding, December 31, 2025 |  |  | 34,877 |  |  | $ | 4.18 |
RSAs vested |  |  | (5,583 | ) |  |  |
Balance outstanding, March 31, 2026 |  |  | 29,294 |  |  | $ | 4.18 |

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