Annual report [Section 13 and 15(d), not S-K Item 405]

Stock Based Compensation (Tables)

v3.26.1
Stock Based Compensation (Tables)
12 Months Ended
Dec. 31, 2025
Share-Based Payment Arrangement [Abstract]  
Summary of Stock Option Activity

The following table summarizes stock option activity under the Company's equity compensation plans (dollars in thousands, except for per share amounts):

 

Number of
Options

 

 

Weighted-
Average
Exercise
Price

 

 

Weighted-
Average
Remaining
Contractual
Term

 

 

Aggregate Intrinsic Value ('000)

 

 

 

 

 

 

 

 

(in years)

 

 

 

 

Options outstanding as of December 31, 2024

 

 

1,978,557

 

 

$

16.72

 

 

 

4.5

 

 

 

 

Granted

 

 

21,650

 

 

$

11.00

 

 

 

 

 

 

 

Exercised

 

 

(241,532

)

 

$

7.57

 

 

 

 

 

 

 

Forfeited, canceled, or expired

 

 

(152,877

)

 

$

18.83

 

 

 

 

 

 

 

Options outstanding as of December 31, 2025

 

 

1,605,798

 

 

$

17.82

 

 

 

4.0

 

 

$

144

 

Vested and expected to vest at December 31, 2025

 

 

1,605,798

 

 

$

17.82

 

 

 

4.0

 

 

$

144

 

Exercisable at December 31, 2025

 

 

1,584,148

 

 

$

17.92

 

 

 

4.0

 

 

$

144

 

Summary of Assumptions Used To Estimated Grant-Date Fair Value

The fair value of stock options was estimated using the following assumptions at the date of the grant:

 

 

Year ended December 31,

 

2025

 

2024

Risk-free interest rate

 

4.0%

 

4.3%

Expected volatility factor

 

56.8%

 

49.9%

Expected option life

 

5.5 years

 

5.5 years

Expected dividend yield

 

 

Summary of Restricted Stock Units Activity

The following table summarizes RSU activity under the 2021 Plan:

 

 

 

 

Number of RSUs

 

 

Weighted Average Grant Date Fair Value per Share

 

Outstanding as of December 31, 2024

 

 

 

 

2,777,156

 

 

$

10.32

 

RSUs granted

 

 

 

 

2,018,673

 

 

$

10.94

 

RSUs and PSUs vested

 

 

 

 

(1,535,709

)

 

$

11.50

 

RSUs forfeited

 

 

 

 

(638,028

)

 

$

9.98

 

Outstanding as of December 31, 2025

 

 

 

 

2,622,092

 

 

$

10.19

 

Schedule of Stock Based Compensation Expense Based on Roles and Responsibilities of Employees

The following table summarizes the components of total stock-based compensation expense based on roles and responsibilities of the employees within the consolidated statements of operations (in thousands):

 

 

Year Ended December 31,

 

 

 

2025

 

 

2024

 

Cost of revenue

 

$

284

 

 

$

405

 

Research and development

 

 

3,213

 

 

 

5,243

 

Sales and marketing

 

 

2,187

 

 

 

4,193

 

General and administrative

 

 

13,018

 

 

 

10,149

 

 

$

18,702

 

 

$

19,990