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

Equity Incentive Plans and Stock-Based Compensation (Tables)

v3.26.1
Equity Incentive Plans and Stock-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2025
Share-Based Payment Arrangement [Abstract]  
Stock Option Plan Activity

Activity under the Company’s stock option plans is set forth below:

 

 

 

Options

 

 

Weighted-Average
Exercise Price

 

 

Weighted-Average
Remaining
Contractual Term in years

 

 

 

(In thousands)

 

 

(Per Share Data)

 

 

(Years)

 

Outstanding as of December 31, 2023

 

 

25

 

 

$

320.25

 

 

 

6.2

 

Granted

 

 

 

 

$

 

 

 

 

Exercised

 

 

(3

)

 

$

94.50

 

 

 

 

Forfeited or expired

 

 

(4

)

 

$

242.25

 

 

 

 

Outstanding as of December 31, 2024

 

 

18

 

 

$

380.70

 

 

 

5.0

 

Options vested and expected to vest as of December 31, 2024

 

 

18

 

 

$

380.70

 

 

 

 

Vested and exercisable as of December 31, 2024

 

 

18

 

 

$

380.10

 

 

 

 

 

 

 

 

 

 

 

 

 

Outstanding as of December 31, 2024

 

 

18

 

 

$

380.70

 

 

 

5.0

 

Granted

 

 

 

 

$

 

 

 

 

Exercised

 

 

 

 

$

 

 

 

 

Forfeited or expired

 

 

(14

)

 

$

167.20

 

 

 

 

Outstanding as of December 31, 2025

 

 

4

 

 

$

1,028.92

 

 

 

4.4

 

Options vested and expected to vest as of December 31, 2025

 

 

4

 

 

$

1,028.92

 

 

 

 

Vested and exercisable as of December 31, 2025

 

 

4

 

 

$

1,028.92

 

 

 

 

Schedule of Nonvested Restricted Stock Units Activity

The following table summarizes outstanding and expected to vest RSUs as of December 31, 2025 and 2024 and their activity during the year ended December 31, 2025 and 2024:

 

 

 

Number of Shares

 

 

Weighted-Average
Grant Date Fair Value

 

 

Aggregate Intrinsic Value

 

 

 

(In thousands)

 

 

(Per Share Data)

 

 

(In thousands)

 

Balance as of December 31, 2023

 

 

38

 

 

$

1,020.00

 

 

$

7,940

 

Granted

 

 

32

 

 

 

49.35

 

 

 

1,549

 

Released

 

 

(38

)

 

 

428.10

 

 

 

1,276

 

Cancelled

 

 

(19

)

 

 

808.65

 

 

 

1,050

 

Balance as of December 31, 2024

 

 

13

 

 

$

714.30

 

 

$

132

 

Expected to vest as of December 31, 2024

 

 

13

 

 

$

714.30

 

 

$

132

 

 

 

 

 

 

 

 

 

 

Balance as of December 31, 2024

 

 

13

 

 

$

714.30

 

 

$

132

 

Granted

 

 

1,438

 

 

 

17.20

 

 

 

24,743

 

Released

 

 

(288

)

 

 

25.12

 

 

 

1,622

 

Cancelled

 

 

(133

)

 

 

21.04

 

 

 

1,212

 

Balance as of December 31, 2025

 

 

1,030

 

 

$

22.42

 

 

$

14,158

 

Expected to vest as of December 31, 2025

 

 

1,030

 

 

$

22.42

 

 

$

14,158

 

Schedule of Stock-Based Compensation Expense

The following sets forth the total stock-based compensation expense by type of award included in operating expenses on the statements of operations:

 

 

 

December 31,

 

 

 

2025

 

 

2024

 

 

 

(In thousands)

 

Restricted stock units

 

$

9,504

 

 

$

11,281

 

Stock options

 

 

5

 

 

 

125

 

Earnout shares — employees

 

 

 

 

 

404

 

 

 

$

9,509

 

 

$

11,810

 

 

The following sets forth the total stock-based compensation expense for the stock options, RSUs, and earnout shares - employees included in operating expenses on the statements of operations:

 

 

 

December 31,

 

 

 

2025

 

 

2024

 

 

 

(In thousands)

 

Cost of 3D Printer and parts

 

$

1,518

 

 

$

999

 

Cost of Support services

 

 

526

 

 

 

649

 

    Stock-based compensation recorded in cost of revenue

 

 

2,044

 

 

 

1,648

 

Research and development

 

 

1,987

 

 

 

2,630

 

Selling and marketing

 

 

1,030

 

 

 

1,758

 

General and administrative

 

 

4,448

 

 

 

5,774

 

   Stock-based compensation recorded in operating expense

 

 

7,465

 

 

 

10,162

 

    Total stock-based compensation expense

 

$

9,509

 

 

$

11,810