Note 16. At-the-Market Offering

On May 15, 2026, the Company entered into the Sales Agreement with Needham, Cantor and Craig-Hallum, as co-agents, pursuant to which the Company may offer and sell, from time to time to or through the Agents, shares of its common stock. Through September 30, 2026, the Company sold 2.2 million shares of common stock pursuant to the Sales Agreement for aggregate gross proceeds of approximately $59.4 million. After deducting commissions and other issuance costs of approximately $2.0 million, the Company received net proceeds of approximately $57.4 million.

The offer and sale of shares of common stock under the Sales Agreement are made pursuant to the Company's Shelf Registration Statement and a related prospectus supplement and accompanying base prospectus. Pursuant to the Sales Agreement, the Company may offer and sell shares of common stock having an aggregate offering price of up to $100 million. As of September 30, 2026, approximately $40.6 million of aggregate offering capacity remained available under the Sales Agreement. Sales of shares, if any, under the Sales Agreement may be made in any transactions permitted by law that are deemed to be “at the market offerings” as defined in Rule 415 under the Securities Act.

The Company pays Needham, Cantor and Craig-Hallum commissions for their services in acting as agents in the sale of the shares pursuant to the Sales Agreement. Needham, Cantor and Craig-Hallum are entitled to compensation at a fixed commission rate equal to

3.0% of the aggregate gross proceeds from the Offering. The Sales Agreement contains customary representations, warranties and agreements by the Company, indemnification obligations of the Company and the agents, including for liabilities under the Securities Act, other obligations of the parties and termination provisions. The Company will also reimburse Needham, Cantor and Craig-Hallum for certain expenses incurred in connection with the Sales Agreement.