Quarterly report [Sections 13 or 15(d)]

Stockholders??? Equity (Tables)

v3.25.1
Stockholders’ Equity (Tables)
 3 Months Ended
Mar. 31, 2025
Equity [Abstract]  
Summary of Share-Based Compensation Expense The following table sets forth share-based compensation expense included in the condensed consolidated statements of operations:

 

Three Months Ended March 31,

 

 

(in thousands)

 

 

2025

 

 

2024

 

Cost of revenue

 

$

32

 

 

$

22

 

Research and development

 

 

484

 

 

 

337

 

Sales and marketing

 

 

491

 

 

 

421

 

General and administrative

 

 

901

 

 

 

724

 

Share-based compensation expense

 

$

1,908

 

 

$

1,504

 

Share-based compensation expense by type of share-based award is summarized below:

 

Three Months Ended March 31,

 

 

(in thousands)

 

 

2025

 

 

2024

 

Stock options

 

$

110

 

 

$

208

 

RSAs and RSUs

 

 

1,727

 

 

 

1,236

 

ESPP

 

 

71

 

 

 

60

 

 

$

1,908

 

 

$

1,504

 

 

Total unrecognized compensation expense by type of award and the weighted-average remaining requisite period over which such expense is expected to be recognized (in thousands, unless otherwise noted):

 

March 31, 2025

 

 

Unrecognized
Expense

 

 

Remaining
Weighted-
Average
Recognition
Period (in years)

 

Stock options

 

$

190

 

 

 

0.76

 

RSAs and RSUs

 

$

13,309

 

 

 

2.28

 
Summary of Stock Option Activity

Stock option activity under the Company’s current and previous plans during the three months ended March 31, 2025 is summarized below:

 

Stock
Options

 

 

Weighted-
average
Exercise
price
per share

 

 

Weighted-
average
Remaining
Contractual
Life (in years)

 

 

Intrinsic
Value
(in thousands)(1)

 

Outstanding at December 31, 2024

 

 

1,376,396

 

 

$

6.48

 

 

 

 

 

 

 

Exercised

 

 

(11,906

)

 

$

7.92

 

 

 

 

 

 

 

Forfeited or expired

 

 

(11,875

)

 

$

42.02

 

 

 

 

 

 

 

Outstanding at March 31, 2025

 

 

1,352,615

 

 

$

6.16

 

 

 

4.50

 

 

$

8,897

 

Exercisable at March 31, 2025

 

 

1,271,096

 

 

$

5.93

 

 

 

4.30

 

 

$

8,717

 

Vested and expected to vest at March 31, 2025

 

 

1,352,615

 

 

$

6.16

 

 

 

4.50

 

 

$

8,897

 

 

(1)

Intrinsic value is calculated as the estimated fair value of the Company’s stock at the end of the related period less the option exercise price of in-the-money options.
Schedule of Restricted Stock Activity

Restricted stock award ("RSA") activity for the three months ended March 31, 2025 is summarized below:

 

Restricted Stock
Awards

 

 

Weighted-
Average
Grant
Date Fair Value

 

Outstanding at December 31, 2024

 

 

154,210

 

 

$

11.12

 

Vested

 

 

(12,996

)

 

$

8.18

 

Forfeited or expired

 

 

(1,753

)

 

$

11.41

 

Outstanding at March 31, 2025

 

 

139,461

 

 

$

11.39

 

 

Restricted Stock Unit Activity

Restricted stock unit ("RSU") activity for the three months ended March 31, 2025 is summarized below:

 

Restricted Stock
Units

 

 

Weighted-
Average
Grant
Date Fair Value

 

Outstanding at December 31, 2024

 

 

1,657,760

 

 

$

6.76

 

Granted

 

 

541,771

 

 

$

13.55

 

Vested

 

 

(455,585

)

 

$

7.20

 

Forfeited or expired

 

 

(14,579

)

 

$

6.86

 

Outstanding at March 31, 2025

 

 

1,729,367

 

 

$

8.77