Quarterly report [Sections 13 or 15(d)]

Equity Incentive Plans and Stock-Based Compensation (Tables)

v3.26.1
Equity Incentive Plans and Stock-Based Compensation (Tables)
 3 Months Ended
Mar. 31, 2026
Share-Based Payment Arrangement [Abstract]  
Schedule of Stock Option Plan Activity

Activity under the 2021 EIP 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, 2024

 

 

18

 

 

$

380.70

 

 

 

5.0

 

Granted

 

 

—

 

 

$

—

 

 

 

 

Exercised

 

 

—

 

 

$

—

 

 

 

 

Forfeited or expired

 

 

(4

)

 

$

197.55

 

 

 

 

Outstanding as of March 31, 2025

 

 

15

 

 

$

433.80

 

 

 

5.0

 

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

 

 

15

 

 

$

433.80

 

 

 

 

Vested and exercisable as of March 31, 2025

 

 

15

 

 

$

433.80

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Outstanding as of December 31, 2025

 

 

4

 

 

$

1,028.92

 

 

 

4.4

 

Granted

 

 

—

 

 

$

—

 

 

 

 

Exercised

 

 

—

 

 

$

—

 

 

 

 

Forfeited or expired

 

 

—

 

 

$

456.75

 

 

 

 

Outstanding as of March 31, 2026

 

 

4

 

 

$

1,036.43

 

 

 

4.2

 

Options vested and expected to vest as of March 31, 2026

 

 

4

 

 

$

1,036.43

 

 

 

 

Vested and exercisable as of March 31, 2026

 

 

4

 

 

$

1,036.43

 

 

 

 
Schedule of Nonvested Restricted Stock Units Activity

The following table summarizes outstanding and expected to vest RSUs as of March 31, 2026 and 2025 and their activity during the three months ended March 31, 2026 and 2025:

 

 

Number
of Shares

 

 

Weighted-
Average
Grant Date
Fair Value

 

 

Aggregate
Intrinsic
Value

 

 

(In thousands)

 

 

(Per share data)

 

 

(In thousands)

 

Balance as of December 31, 2024

 

 

13

 

 

$

714.30

 

 

$

132

 

Granted

 

 

47

 

 

 

4.35

 

 

 

206

 

Released

 

 

(49

)

 

 

26.40

 

 

 

199

 

Cancelled

 

 

(1

)

 

 

771.00

 

 

 

20

 

Balance as of March 31, 2025

 

 

10

 

 

$

713.55

 

 

$

25

 

Expected to vest as of March 31, 2025

 

 

10

 

 

$

713.55

 

 

$

25

 

 

 

 

 

 

 

 

 

 

 

Balance as of December 31, 2025

 

 

1,030

 

 

$

22.42

 

 

$

14,158

 

Granted

 

 

123

 

 

 

10.26

 

 

 

665

 

Released

 

 

(75

)

 

 

17.53

 

 

 

824

 

Cancelled

 

 

(52

)

 

 

6.85

 

 

 

92

 

Balance as of March 31, 2026

 

 

1,026

 

 

$

21.87

 

 

$

9,635

 

Expected to vest as of March 31, 2026

 

 

1,026

 

 

$

21.87

 

 

$

9,635

 
Schedule of Stock-Based Compensation Expense

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

 

 

Three Months Ended
March 31,

 

 

2026

 

 

2025

 

 

(In thousands)

 

Restricted stock units

 

$

1,889

 

 

$

3,591

 

Stock options

 

 

—

 

 

 

4

 

 

$

1,889

 

 

$

3,595

 

 

The following sets forth the total stock-based compensation expense included in cost of revenue and operating expenses on the statements of operations:

 

 

Three Months Ended
March 31,

 

 

2026

 

 

2025

 

 

(In thousands)

 

Cost of 3D Printer and parts

 

$

472

 

 

$

140

 

Cost of Support services

 

 

171

 

 

 

68

 

    Stock-based compensation recorded in cost of revenue

 

 

643

 

 

 

208

 

Research and development

 

 

540

 

 

 

427

 

Selling and marketing

 

 

370

 

 

 

114

 

General and administrative

 

 

336

 

 

 

2,846

 

    Stock-based compensation recorded in operating expense

 

 

1,246

 

 

 

3,387

 

    Total stock-based compensation expense

 

$

1,889

 

 

$

3,595