Stock-Based Compensation (Tables)
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6 Months Ended |
Jun. 30, 2026 |
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| Share-Based Payment Arrangement [Abstract] |
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| Schedule of Stock Option Plan Activity |
Activity under the 2021 EIP is set forth below:
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Options |
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Weighted-
Average
Exercise
Price |
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Weighted-
Average
Remaining
Contractual
Term
in years |
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(In thousands) |
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(Per share data) |
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(Years) |
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Outstanding as of December 31, 2024 |
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18 |
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$ |
380.70 |
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5.0 |
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Granted |
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— |
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$ |
— |
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Exercised |
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— |
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$ |
— |
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Forfeited or expired |
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(14 |
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$ |
166.70 |
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Outstanding as of June 30, 2025 |
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4 |
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$ |
1,022.11 |
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4.8 |
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Options vested and expected to vest as of June 30, 2025 |
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4 |
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$ |
1,022.11 |
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Vested and exercisable as of June 30, 2025 |
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4 |
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$ |
1,022.11 |
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Outstanding as of December 31, 2025 |
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4 |
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$ |
1,028.92 |
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4.4 |
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Granted |
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964 |
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$ |
18.40 |
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Exercised |
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— |
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$ |
— |
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Forfeited or expired |
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— |
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$ |
— |
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Outstanding as of June 30, 2026 |
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968 |
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$ |
22.78 |
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10.0 |
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Options vested and expected to vest as of June 30, 2026 |
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968 |
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$ |
22.78 |
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Vested and exercisable as of June 30, 2026 |
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968 |
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$ |
22.78 |
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| Schedule of Weighted Average Grant Date Fair Value |
The weighted-average grant-date fair value and significant assumptions used in the valuation were as follows:
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As of June 29, 2026 |
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Weighted-average grant date fair value |
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$ |
16.80 |
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Grant date stock price |
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$ |
18.40 |
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Exercise price |
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$ |
18.40 |
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Expected volatility |
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165.0 |
% |
Expected term |
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5.0 |
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Risk-free interest rate |
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4.1 |
% |
Expected dividend yield |
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0.0 |
% |
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| Schedule of Nonvested Restricted Stock Units Activity |
The following table summarizes outstanding and expected to vest RSUs as of June 30, 2026 and 2025 and their activity during the six months ended June 30, 2026 and 2025:
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Number
of Shares |
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Weighted-
Average
Grant Date
Fair Value |
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Aggregate
Intrinsic
Value |
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(In thousands) |
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(Per share data) |
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(In thousands) |
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Balance as of December 31, 2024 |
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13 |
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$ |
714.30 |
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$ |
132 |
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Granted |
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1,070 |
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11.05 |
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— |
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Released |
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(104 |
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28.08 |
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— |
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Cancelled |
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(90 |
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30.91 |
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— |
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Balance as of June 30, 2025 |
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889 |
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$ |
16.51 |
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$ |
6,400 |
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Expected to vest as of June 30, 2025 |
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889 |
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$ |
16.51 |
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$ |
6,400 |
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Balance as of December 31, 2025 |
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1,030 |
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$ |
22.42 |
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$ |
14,158 |
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Granted |
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570 |
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17.59 |
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— |
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Released |
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(174 |
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25.35 |
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— |
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Cancelled |
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(159 |
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39.59 |
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— |
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Balance as of June 30, 2026 |
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1,267 |
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$ |
17.96 |
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$ |
22,232 |
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Expected to vest as of June 30, 2026 |
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1,267 |
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$ |
17.96 |
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$ |
22,232 |
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| 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:
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Three Months Ended
June 30, |
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Six Months Ended
June 30, |
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2026 |
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2025 |
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2026 |
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2025 |
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(In thousands) |
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(In thousands) |
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Restricted stock units |
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$ |
2,428 |
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$ |
1,834 |
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$ |
4,316 |
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$ |
5,425 |
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Stock options |
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67 |
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1 |
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67 |
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6 |
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$ |
2,495 |
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$ |
1,835 |
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$ |
4,383 |
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$ |
5,431 |
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The following sets forth the total stock-based compensation expense included in cost of revenue and operating expenses on the statements of operations:
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Three Months Ended
June 30, |
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Six Months Ended
June 30, |
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2026 |
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2025 |
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2026 |
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2025 |
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(In thousands) |
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(In thousands) |
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Cost of 3D Printer and parts |
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$ |
86 |
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$ |
474 |
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$ |
558 |
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$ |
613 |
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Cost of Support services |
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19 |
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125 |
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189 |
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194 |
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Stock-based compensation recorded in cost of revenue |
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105 |
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599 |
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747 |
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807 |
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Research and development |
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917 |
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356 |
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1,457 |
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783 |
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Selling and marketing |
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460 |
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217 |
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831 |
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330 |
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General and administrative |
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1,013 |
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663 |
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1,348 |
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3,511 |
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Stock-based compensation recorded in operating expense |
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2,390 |
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1,236 |
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3,636 |
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4,624 |
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Total stock-based compensation expense |
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$ |
2,495 |
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$ |
1,835 |
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$ |
4,383 |
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$ |
5,431 |
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