Quarterly report [Sections 13 or 15(d)]

Stock-Based Compensation (Tables)

v3.26.1
Stock-Based Compensation (Tables)
3 Months Ended
Mar. 31, 2026
Share-Based Payment Arrangement [Abstract]  
Summary of Stock Options Activity

The following summarizes activity related to the Company's stock options (in thousands, except per share data):

 

 

Number of Shares

 

 

Weighted Average
Exercise Price

 

 

Weighted Average
Remaining Contract
Term (in years)

 

 

Aggregate Intrinsic Value

 

Outstanding - December 31, 2025

 

 

39,943

 

 

$

0.09

 

 

 

8.1

 

 

$

555

 

Granted

 

 

14,450

 

 

 

0.04

 

 

 

 

 

 

 

Exercised

 

 

 

 

 

 

 

 

 

 

 

 

Cancelled

 

 

(208

)

 

 

0.04

 

 

 

 

 

 

 

Outstanding - March 31, 2026

 

 

54,185

 

 

 

0.08

 

 

 

8.4

 

 

 

46

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Exercisable - March 31, 2026

 

 

25,720

 

 

 

0.12

 

 

 

7.4

 

 

 

20

 

Vested or expected to vest - March 31, 2026

 

 

54,185

 

 

$

0.08

 

 

 

8.4

 

 

$

46

 

Summary of Weighted-Average Assumptions Used to Estimate Fair Value

The following table presents the weighted average grant date fair value of stock options granted and the weighted-average assumptions used to estimate the fair value on the date of grant using the Black-Scholes valuation model:

 

 

 

Three months ended March 31,

 

 

 

2026

 

 

2025

 

Volatility

 

 

 

162.0

%

 

 

146.1

%

Risk-Free Interest Rate

 

 

 

3.9

%

 

 

4.4

%

Expected Term (in years)

 

 

 

5.76

 

 

 

5.76

 

Dividend Rate

 

 

 

%

 

 

%

Weighted Average Fair Value Per Share on Grant Date

 

 

$

0.04

 

 

$

0.03