v3.25.3
Stock-Based Compensation (Tables)
9 Months Ended
Sep. 30, 2025
Share-Based Payment Arrangement [Abstract]  
Schedule of Stock Compensation Expense
The following table presents stock compensation expense recognized by the Company for the three and nine months ended September 30, 2025. Total unrecognized compensation cost related to equity awards as of September 30, 2025 was $10.1 million and is expected to be recognized over a weighted average period of 2.36 years. All stock compensation expense from the Stock Incentive Plan was recognized prior to 2024. The first grants from the 2024 Plan were issued in the three months ended December 31, 2024, thus there is no expense for the three and nine months ended September 30, 2024. The Company recognizes compensation expense on a straight-line basis over the requisite service period, net of actual forfeitures.
Three Months Ended September 30,Nine Months Ended September 30,
(in thousands)20252025
Cost of revenues$14 $32 
General and administrative1,182 2,889 
Selling and marketing192557
Research and development935
Total expense$1,397 $3,513 
Schedule of Stock Options Award Activity
The following table presents a summary of stock options award activity during the nine months ended September 30, 2025:
Number of Options (in thousands)Weighted Average Exercise PriceWeighted Average Remaining Contractual Term (Years)Aggregate Intrinsic Value (in thousands)
Outstanding, December 31, 20241,137 $15.97 9.5$9,305 
Granted426 29.55 6.91,432 
Exercised(25)14.68 0.0471 
Forfeited(187)19.66 0.0- 
Outstanding, September 30, 20251,351 $19.03 8.6$24,099 
Exercisable, September 30, 2025
402 $25.15 7.9$7,454 
Schedule of Weighted Average Assumptions
The weighted average assumptions used in the Black-Scholes option pricing model in valuing stock options granted in the three and nine months ended September 30, 2025 are summarized in the table below:
Three Months Ended September 30,Nine Months Ended September 30,
20252025
Fair value at grant date$37.34$30.61
Expected volatility63%62%
Risk-free interest rate4%4%
Expected holding period, in years5.485.13
Dividend yield0%0%