Stockholders’ Equity (Tables)
|
6 Months Ended |
Jun. 30, 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:
|
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|
|
|
|
|
|
|
|
|
Three Months Ended June 30, |
|
(in thousands) |
|
2025 |
|
|
2024 |
|
Cost of revenue |
|
$ |
37 |
|
|
$ |
29 |
|
Research and development |
|
|
573 |
|
|
|
406 |
|
Sales and marketing |
|
|
633 |
|
|
|
524 |
|
General and administrative |
|
|
1,026 |
|
|
|
837 |
|
Share-based compensation expense |
|
$ |
2,269 |
|
|
$ |
1,796 |
|
|
|
|
|
|
|
|
|
|
|
|
For the Six Months Ended June 30, |
|
(in thousands) |
|
2025 |
|
|
2024 |
|
Cost of revenue |
|
$ |
69 |
|
|
$ |
51 |
|
Research and development |
|
|
1,056 |
|
|
|
743 |
|
Sales and marketing |
|
|
1,125 |
|
|
|
945 |
|
General and administrative |
|
|
1,927 |
|
|
|
1,561 |
|
Share-based compensation expense |
|
$ |
4,177 |
|
|
$ |
3,300 |
|
Share-based compensation expense by type of share-based award is summarized below:
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended June 30, |
|
(in thousands) |
|
2025 |
|
|
2024 |
|
Stock options |
|
$ |
83 |
|
|
$ |
195 |
|
RSAs and RSUs |
|
|
2,115 |
|
|
|
1,540 |
|
ESPP |
|
|
71 |
|
|
|
61 |
|
|
|
$ |
2,269 |
|
|
$ |
1,796 |
|
|
|
|
|
|
|
|
|
|
|
|
For the Six Months Ended June 30, |
|
(in thousands) |
|
2025 |
|
|
2024 |
|
Stock options |
|
$ |
193 |
|
|
$ |
403 |
|
RSAs and RSUs |
|
|
3,842 |
|
|
|
2,776 |
|
ESPP |
|
|
142 |
|
|
|
121 |
|
|
|
$ |
4,177 |
|
|
$ |
3,300 |
|
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):
|
|
|
|
|
|
|
|
|
|
|
June 30, 2025 |
|
|
|
Unrecognized
Expense |
|
|
Remaining
Weighted-
Average
Recognition
Period (in years) |
|
Stock options |
|
$ |
107 |
|
|
|
0.68 |
|
RSAs and RSUs |
|
$ |
12,246 |
|
|
|
2.05 |
|
|
| Summary of Stock Option Activity |
Stock option activity during the six months ended June 30, 2025 is summarized below:
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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 |
|
|
(17,906 |
) |
|
$ |
6.86 |
|
|
|
|
|
|
|
Forfeited or expired |
|
|
(17,875 |
) |
|
$ |
34.78 |
|
|
|
|
|
|
|
Outstanding at June 30, 2025 |
|
|
1,340,615 |
|
|
$ |
6.10 |
|
|
|
4.25 |
|
|
$ |
8,891 |
|
Exercisable at June 30, 2025 |
|
|
1,298,148 |
|
|
$ |
6.03 |
|
|
|
4.14 |
|
|
$ |
8,728 |
|
Vested and expected to vest at June 30, 2025 |
|
|
1,340,615 |
|
|
$ |
6.10 |
|
|
|
4.25 |
|
|
$ |
8,891 |
|
|
|
(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 six months ended June 30, 2025 is summarized below:
|
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|
|
|
|
|
|
|
|
|
Restricted Stock
Awards |
|
|
Weighted-
Average
Grant
Date Fair Value |
|
Outstanding at December 31, 2024 |
|
|
154,210 |
|
|
$ |
11.12 |
|
Vested |
|
|
(129,434 |
) |
|
$ |
11.07 |
|
Forfeited or expired |
|
|
(1,753 |
) |
|
$ |
11.41 |
|
Outstanding at June 30, 2025 |
|
|
23,023 |
|
|
$ |
11.35 |
|
Restricted Stock Unit Activity
Restricted stock unit (“RSU”) activity for the six months ended June 30, 2025 is summarized below:
|
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|
|
|
|
|
|
|
|
|
Restricted Stock
Units |
|
|
Weighted-
Average
Grant
Date Fair Value |
|
Outstanding at December 31, 2024 |
|
|
1,657,760 |
|
|
$ |
6.76 |
|
Granted |
|
|
635,703 |
|
|
$ |
13.33 |
|
Vested |
|
|
(613,412 |
) |
|
$ |
7.06 |
|
Forfeited or expired |
|
|
(22,280 |
) |
|
$ |
8.23 |
|
Outstanding at June 30, 2025 |
|
|
1,657,771 |
|
|
$ |
9.15 |
|
|