v3.25.4
Stock-Based Compensation (Tables)
 9 Months Ended 12 Months Ended
Sep. 30, 2025
Dec. 31, 2024
Retirement Benefits [Abstract]    
Schedule Of Stock Option Activity

The following table summarizes the Company’s stock option activity and related information:

 

   Number of Shares   Weighted Average Exercise Price   Aggregate Intrinsic Value (in thousands)   Weighted Average Remaining Life 
Outstanding, as of January 1, 2025   5,027,916   $0.42   $3,693,765    9.30 
Granted   2,079,029   $1.17   $-    - 
Exercised during period   609   $0.42    -    - 
Forfeited   56,503   $0.76   $-    - 
Expired   -    -    -    - 
Outstanding as of September 30, 2025   7,049,833   $0.87   $3,679,037    9.15 

The following table summarizes the Company’s stock option activity and related information:

 

   Number of Shares   Weighted Average Exercise Price   Aggregate Intrinsic Value (in thousands)   Weighted Average Remaining Life 
Outstanding, as of January 1, 2023   272,844   $11.70    -    8.15 
Granted   -    -                -    - 
Exercised during period   290   $4.02    -    - 
Forfeited   94,722   $16.23    -    - 
Expired   -    -    -    - 
Outstanding, as of December 31, 2023   177,832   $10.08   $-    7.17 
Granted   4,854,476   $0.42   $-    - 
Exercised during period   -    -    -    - 
Forfeited   5,418   $0.42   $-    - 
Expired   -    -    -    - 
Outstanding as of December 31, 2024   5,026,890   $0.42   $-    9.30 
Schedule of Stock Options Valuation Assumptions

The estimated fair value of stock options was determined using the Black-Scholes option-pricing model with the following weighted-average assumptions:

 

   Nine Months Ended
September 30,		 
   2025   2024 
Expected term of options (years)  5-6.65   5-6.12 
Expected volatility (%)   41.87-45.07    45.09-45.81 
Risk-free interest rate (%)   3.83-3.99    4.57 
Expected dividend yield (%)   —    — 

The estimated fair value of stock options was determined using the Black-Scholes option-pricing model with the following weighted-average assumptions:

 

  

Years Ended

December 31,

 
   2024   2023 
Expected term of options (years)  5-6.12     
Expected volatility (%)    45.09-45.81      
Risk-free interest rate (%)   4.57      
Expected dividend yield (%)   —    — 
Schedule of Stock Based Compensation Expenses

Total stock-based compensation expense for nine months ended on September 30, 2025 and 2024 was as follows (in thousands):

 

   2025   2024   2025   2024 
   Three Months Ended
September 30,		   Nine Months Ended
September 30,		 
   2025   2024   2025   2024 
Cost of sales  $2   $2   $10   $5 
Research and development   18    57    77    169 
Sales and marketing   5    19    20    56 
General and administrative   107    162    386    487 
Total stock-based compensation expense  $132   $240   $493   $717 

Total stock-based compensation expense for years ended December 31, 2024 and 2023 was as follows (in thousands):

 

           
  

Years Ended

December 31,

 
   2024   2023 
Cost of sales   4    3 
Research and development   153    123 
Sales and marketing   115    66 
General and administrative   689    143 
Total stock-based compensation expense   961    335