Stockholders’ Equity (Tables)
|
9 Months Ended |
Sep. 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:
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended September 30, |
|
(in thousands) |
|
2025 |
|
|
2024 |
|
Cost of revenue |
|
$ |
31 |
|
|
$ |
31 |
|
Research and development |
|
|
501 |
|
|
|
461 |
|
Sales and marketing |
|
|
550 |
|
|
|
537 |
|
General and administrative |
|
|
940 |
|
|
|
875 |
|
Share-based compensation expense |
|
$ |
2,022 |
|
|
$ |
1,904 |
|
|
|
|
|
|
|
|
|
|
|
|
Nine Months Ended September 30, |
|
(in thousands) |
|
2025 |
|
|
2024 |
|
Cost of revenue |
|
$ |
100 |
|
|
$ |
82 |
|
Research and development |
|
|
1,558 |
|
|
|
1,204 |
|
Sales and marketing |
|
|
1,674 |
|
|
|
1,482 |
|
General and administrative |
|
|
2,867 |
|
|
|
2,436 |
|
Share-based compensation expense |
|
$ |
6,199 |
|
|
$ |
5,204 |
|
Share-based compensation expense by type of share-based award is summarized below:
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended September 30, |
|
(in thousands) |
|
2025 |
|
|
2024 |
|
Stock options |
|
$ |
40 |
|
|
$ |
151 |
|
RSAs and RSUs |
|
|
1,923 |
|
|
|
1,719 |
|
ESPP |
|
|
59 |
|
|
|
34 |
|
|
|
$ |
2,022 |
|
|
$ |
1,904 |
|
|
|
|
|
|
|
|
|
|
|
|
Nine Months Ended September 30, |
|
(in thousands) |
|
2025 |
|
|
2024 |
|
Stock options |
|
$ |
233 |
|
|
$ |
554 |
|
RSAs and RSUs |
|
|
5,765 |
|
|
|
4,495 |
|
ESPP |
|
|
201 |
|
|
|
155 |
|
|
|
$ |
6,199 |
|
|
$ |
5,204 |
|
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):
|
|
|
|
|
|
|
|
|
|
|
September 30, 2025 |
|
|
|
Unrecognized
Expense |
|
|
Remaining
Weighted-
Average
Recognition
Period (in years) |
|
Stock options |
|
$ |
67 |
|
|
|
0.43 |
|
RSAs and RSUs |
|
$ |
10,337 |
|
|
|
1.87 |
|
|
| Summary of Stock Option Activity |
Stock option activity during the nine months ended September 30, 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 |
|
|
(18,906 |
) |
|
$ |
6.64 |
|
|
|
|
|
|
|
Forfeited or expired |
|
|
(36,311 |
) |
|
$ |
32.15 |
|
|
|
|
|
|
|
Outstanding at September 30, 2025 |
|
|
1,321,179 |
|
|
$ |
5.78 |
|
|
|
4.06 |
|
|
$ |
21,166 |
|
Exercisable at September 30, 2025 |
|
|
1,278,712 |
|
|
$ |
5.70 |
|
|
|
3.95 |
|
|
$ |
20,584 |
|
Vested and expected to vest at September 30, 2025 |
|
|
1,321,179 |
|
|
$ |
5.78 |
|
|
|
4.06 |
|
|
$ |
21,166 |
|
|
|
(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 nine months ended September 30, 2025 is summarized below:
|
|
|
|
|
|
|
|
|
|
|
Restricted Stock
Awards |
|
|
Weighted-
Average
Grant
Date Fair Value |
|
Outstanding at December 31, 2024 |
|
|
154,210 |
|
|
$ |
11.12 |
|
Vested |
|
|
(136,116 |
) |
|
$ |
11.28 |
|
Forfeited or expired |
|
|
(1,753 |
) |
|
$ |
11.41 |
|
Outstanding at September 30, 2025 |
|
|
16,341 |
|
|
$ |
9.77 |
|
Restricted Stock Unit Activity
Restricted stock unit (“RSU”) activity for the nine months ended September 30, 2025 is summarized below:
|
|
|
|
|
|
|
|
|
|
|
Restricted Stock
Units |
|
|
Weighted-
Average
Grant
Date Fair Value |
|
Outstanding at December 31, 2024 |
|
|
1,657,760 |
|
|
$ |
6.76 |
|
Granted |
|
|
638,482 |
|
|
$ |
13.33 |
|
Vested |
|
|
(617,218 |
) |
|
$ |
7.07 |
|
Forfeited or expired |
|
|
(25,017 |
) |
|
$ |
8.01 |
|
Outstanding at September 30, 2025 |
|
|
1,654,007 |
|
|
$ |
9.16 |
|
|