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DE 94-3120386 710 North Tucker Boulevard Suite 110 St. Louis MO 63101 (314) 678-6100 Common Stock, par value $0.001 per share STXS NYSEAMER Yes Yes Non-accelerated Filer true false false 97736700 14616000 13421000 630000 541000 5303000 5847000 4316000 4316000 10495000 9567000 1297000 698000 36027000 33849000 2956000 3019000 3764000 3764000 6193000 6429000 4760000 4912000 330000 278000 54030000 52251000 4823000 4768000 1478000 2065000 4316000 4316000 6541000 5675000 5266000 4894000 662000 642000 23086000 22360000 523000 555000 5108000 4724000 4618000 4794000 1097000 1097000 34432000 33530000 0.001 0.001 10000000 10000000 21008 21008 5240000 5240000 0.001 0.001 300000000 300000000 97491248 95339628 97000 95000 603696000 596960000 4015 4015 206000 206000 -589229000 -583368000 14358000 13481000 54030000 52251000 1319000 1964000 4972000 5508000 6291000 7472000 804000 1667000 1693000 1741000 2497000 3408000 3794000 4064000 2397000 2350000 2617000 3148000 4761000 4495000 9775000 9993000 -5981000 -5929000 -5000 125000 106000 -5861000 -5823000 311000 314000 -6172000 -6137000 -0.06 -0.07 -0.06 -0.07 98891179 87769366 98891179 87769366 21458 5352000 85326557 85000 567926000 -206000 -561725000 6080000 4103 1000 1000 120908 2535000 2535000 -5823000 -5823000 14054 30000 30000 -225 -56000 518055 1000 56000 57000 21233 5296000 85983677 86000 570548000 -206000 -567548000 2880000 21008 5240000 95339628 95000 596960000 -206000 -583368000 13481000 95339628 95000 596960000 -206000 -583368000 13481000 16036 24000 24000 115000 2110000 2110000 2005308 2000 4575000 4577000 -5861000 -5861000 15276 27000 27000 21008 5240000 97491248 97000 603696000 -206000 -589229000 14358000 97491248 97000 603696000 -206000 -589229000 14358000 -5861000 -5823000 159000 156000 236000 214000 756000 502000 -4000 2110000 2535000 -543000 500000 928000 1481000 599000 -760000 52000 -9000 -49000 852000 -587000 5000 834000 992000 -3442000 -1779000 79000 -79000 4853000 32000 137000 4716000 32000 1195000 -1747000 13421000 12436000 14616000 10689000 17000 23000 14616000 10601000 88000 14616000 10689000 <p id="xdx_801_eus-gaap--NatureOfOperations_zOxMUgqeGNZ7" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>1. <span id="xdx_828_zvvrVf2UuvSa">Description of Business</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Stereotaxis designs, manufactures and markets robotic systems, instruments and information systems for the interventional laboratory. Our proprietary robotic technology, Robotic Magnetic Navigation, fundamentally transforms endovascular interventions using precise computer-controlled magnetic fields to directly control the tip of flexible interventional catheters or devices. Direct control of the tip of an interventional device, in contrast to all manual hand-held devices that are controlled from their handle, can improve the precision, stability, reach and safety of these devices during procedures.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our primary clinical focus has been electrophysiology, specifically cardiac ablation procedures for the treatment of arrhythmias. Cardiac ablation has become a well-accepted therapy for arrhythmias and a multi-billion-dollar medical device market with expectations for substantial long-term growth. We have shared our aspirations and a product strategy to expand the clinical focus of our technology to several additional endovascular indications including coronary, neuro, and peripheral interventions.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">There is substantial real-world evidence and clinical literature for Robotic Magnetic Navigation in electrophysiology. Hundreds of electrophysiologists at over one hundred hospitals globally have treated over 150,000 arrhythmia patients with our robotic technology. Clinical use of our technology has been documented in over 500 clinical publications. Robotic Magnetic Navigation is designed to enable physicians to complete more complex interventional procedures with greater success and safety by providing image-guided delivery of catheters through the blood vessels and chambers of the heart to treatment sites. This is achieved using externally applied computer-controlled magnetic fields that govern the motion of the working tip of the catheter, resulting in improved navigation. The more flexible atraumatic design of catheters driven using magnetic fields may reduce the risk of patient harm and other adverse events. Performing the procedure from a control cockpit enables physicians to complete procedures in a safe location protected from x-ray exposure, with greater ergonomics, and improved efficiency. We believe these benefits can be applicable in other endovascular indications where navigation through complex vasculature is often challenging or unsuccessful and generates significant x-ray exposure, and we are investing in research and development in these areas.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our primary products include the <i>Genesis RMN </i>and the <i>GenesisX RMN </i>Systems, the <i>Synchrony &amp; SynX </i>Solutions, various interventional devices under the <i>Map-iT</i>, <i>MAGiC </i>and <i>EMAGIN</i> brands, and other related devices. Through our strategic relationships with fluoroscopy system manufacturers, providers of catheters and electrophysiology mapping systems, and other parties, we offer our customers x-ray systems and other accessory diagnostic and therapeutic devices.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The <i>Genesis RMN </i>and the <i>GenesisX RMN </i>Systems are designed to enable physicians to complete complex interventional procedures by providing image-guided delivery of catheters through the blood vessels and chambers of the heart to treatment sites. This is achieved using externally applied magnetic fields that govern the motion of the working tip of the catheter, resulting in improved navigation, efficient procedures, and reduced x-ray exposure. The <i>GenesisX RMN </i>System, the latest generation of the <i>Genesis RMN</i> System, is designed to enhance the accessibility of Robotic Magnetic Navigation by reducing the lengthy construction cycle necessary to install prior generation RMN systems.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The <i>Synchrony </i>system is designed to digitize and modernize the interventional catheter lab. Synchrony’s ultra-high-definition display consolidates the viewing and control of all disparate systems in the lab, offering an enhanced procedure experience with custom layouts, streamlined workflows, an intuitive user interface, and a decluttered environment. Synchrony digitizes the video streams with full fidelity and ultra-low latency, offering crystal-clear visualization. Its architecture allows obsolescence protection for labs as new technologies are introduced in the future. Synchrony is made available with <i>SynX</i>, a cloud-based HIPAA and GDPR-compliant app that allows for secure remote connectivity, collaboration, recording, and monitoring of the cath lab. These technologies are sold alongside RMN systems and as stand-alone solutions.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We pursue arrangements with fluoroscopy system manufacturers to provide <i>RMN </i>Systems in a bundled purchase offer for hospitals establishing robotic interventional operating rooms. An integrated x-ray system is critical for customer adoption of <i>RMN</i> Systems, and when offered as a bundled purchase with the <i>RMN</i> System, it may reduce the cost of acquisition, the ongoing cost of ownership, and the complexity of installation of a robotic electrophysiology practice.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We promote our full suite of products necessary for a typical hospital implementation, subject to regulatory approvals or clearances. This implementation requires a hospital to agree to an upfront capital payment and recurring payments. The upfront capital payment typically includes equipment and installation charges. The recurring payments typically include disposable costs for each procedure, equipment service costs beyond the warranty period, and ongoing software updates. In hospitals where our full suite of products has not been implemented, equipment upgrade or expansion can be implemented upon purchasing of the necessary upgrade or expansion.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Not all products have and/or require regulatory clearance in all the markets we serve. Please see below for a description of the regulatory clearance, licensing, and/or approvals we currently have or are pursuing. Approval processes can be lengthy and uncertain, submissions may require revised or additional non-clinical and clinical data, and regulatory applications could be denied.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We have received regulatory clearance, and/or approvals necessary for us to market the following products in the regions noted, and we are in the process of obtaining necessary approvals in other countries.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 38.25pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Genesis</i> System with <i>Cardiodrive</i>, <i>iCONNECT, Navigant, Odyssey</i> and <i>QuikCAS</i> in the U.S., Europe, and China,</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 38.25pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>GenesisX RMN </i>System, the latest generation of the Genesis <i>RMN </i>System in the U.S. and Europe, and we are in the process of obtaining necessary approvals in other countries.</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 38.25pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>SynX</i> collaboration solution in the U.S. and Europe.</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 38.25pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Synchron</i>y solution in the U.S. and Europe.</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 38.25pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Niobe</i> System with <i>Cardiodrive</i>, <i>e-Contact</i>, <i>Navigant</i>, <i>Odyssey</i>, <i>QuikCAS</i> in the U.S., Europe, Canada, China, Japan, and various other countries.</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 38.25pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Vdrive</i> and <i>Vdrive Duo</i> Systems with the <i>V-CAS</i> in the U.S., Europe, and Canada.</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 38.25pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>MAGiC</i> catheter, a robotically navigated magnetic ablation catheter designed to perform minimally invasive cardiac ablation procedures, in the U.S. and Europe.</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 38.25pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Map-iT</i> diagnostic mapping catheters in the U.S. and Europe.</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 38.25pt"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 18pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>MAGiC Sweep™</i> catheter, the first robotically navigated high-density EP mapping catheter, received FDA 510(k) clearance in July 2025.</span></td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We are also currently seeking regulatory clearances for the <i>EMAGIN </i>5F catheter guide designed to robotically navigate tortuous venous and arterial vasculature.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We have strategic relationships with technology leaders and innovators in the global interventional market. Through these strategic relationships we provide compatibility with our robotic magnetic navigation system, integrated x-ray systems, digital imaging and 3D catheter location sensing technology, and compatible disposable interventional devices. The maintenance of these strategic relationships, or the establishment of equivalent alternatives, is critical to our commercialization efforts. There are no guarantees that any existing strategic relationships will continue, and efforts are ongoing to ensure the availability of compatible systems and devices and/or equivalent alternatives. We cannot provide assurance as to the timeline of the ongoing availability of such compatible systems or our ability to obtain equivalent alternatives on competitive terms or at all.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Prior to regulatory clearance of a replacement device, the robotically enabled ablation catheters predominantly used with our RMN Systems were co-developed with Biosense Webster, a wholly owned subsidiary of Johnson and Johnson (the “J&amp;J catheters”). The J&amp;J catheters were solely manufactured and distributed by them and their obligation to supply those catheters ended on December 31, 2025. We do not know their plans for the continuation of the J&amp;J catheters, and we have no guarantees that supply of those catheters will continue into 2026. The replacement device for the J&amp;J catheters, the Stereotaxis <i>MAGiC</i> catheter, a robotically navigated magnetic ablation catheter designed to perform minimally invasive cardiac ablation procedures, obtained the CE marking in Europe during the first quarter of 2025 and U.S. Food and Drug Administration (FDA) 510(k) clearance in January 2026. Although we are ramping up production of the <i>MAGiC</i> ablation catheter, continued supply of the J&amp;J catheters into 2026 remains of significant importance for many customers of our technology.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span>On April 14, 2026, the Company entered into an agreement to acquire Robocath, a venture-backed innovator of advanced mechanical robotic technology for interventional cardiology and neurointerventions headquartered in Rouen, France. See Note 12, <i>Subsequent Events</i>, for more details about this proposed acquisition.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_80B_eus-gaap--SignificantAccountingPoliciesTextBlock_zn0auYshw0W4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>2. <span id="xdx_825_zMRFvZXtYYm2">Summary of Significant Accounting Policies</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_847_eus-gaap--BasisOfAccountingPolicyPolicyTextBlock_z2SAAfx5LoLk" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_869_zsWiLRADB39e">Basis of Presentation</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The accompanying unaudited consolidated financial statements of Stereotaxis, Inc. have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information and the instructions to Form 10-Q. Accordingly, they do not include all the disclosures required by GAAP for complete consolidated financial statements. In the opinion of management, they include all adjustments, consisting only of normal recurring adjustments, necessary for a fair presentation of the results for the interim periods presented. Operating results for the three-month period ended March 31, 2026, are not necessarily indicative of the results that may be expected for the year ending December 31, 2026, or for future operating periods.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">These interim consolidated financial statements and the related notes should be read in conjunction with the annual consolidated financial statements and notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025, as filed with the Securities and Exchange Commission (SEC) on March 12, 2026.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 40pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 40pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 40pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_84B_eus-gaap--ConcentrationRiskCreditRisk_zTcE0QvEC92l" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_86A_zdRwC2D0deQe">Risks and Uncertainties</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Future results of operations and liquidity could be materially adversely impacted by uncertainties in macroeconomic and geopolitical factors in both the U.S. and globally including continuing introduction of new or modification of existing tariffs or trade barriers, supply chain challenges, inflationary pressures, elevated interest rates, and disruptions in commodity markets stemming from conflicts, such as those between Russia and Ukraine and conflicts in the Middle East, including Israel and Iran. The Company continues to experience difficulties with periodic worldwide supply chain disruptions, including shortages and inflationary pressures, tariffs and other trade regulations that are or may be imposed, and logistics delays which make it difficult for us to source parts and ship our products.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In particular, recent tariff changes imposed by the U.S. and other countries have created increased risks and uncertainties surrounding the Company’s future results of operations. The U.S. import tariffs, along with any reciprocal measures by other countries, may increase the Company’s cost of raw materials and finished goods imported from outside of the U.S. Additionally, the Company anticipates that some of its suppliers will incur incremental tariff-related costs, which may be passed on to the Company. The ultimate impact of changes to tariffs or trade barriers will depend on various factors, including the timing, amount, scope, and nature of any tariffs or trade barriers that are implemented.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We continue to evaluate the macroeconomic business environment, taking action to increase inventory levels where appropriate and engaging in discussions with our vendors on contractual obligations, but we cannot guarantee that our business activities will not be impacted more severely in the future. Our suppliers and contract manufacturers have experienced, and may continue to experience, similar difficulties. If our manufacturing operations or supply chains are materially interrupted, it may not be possible for us to timely manufacture or service our products at required levels, or at all. Changes in economic conditions, government shutdowns, tariff escalation, retaliatory measures and new import restrictions could lead to higher inflation than previously experienced or expected, which could, in turn create supply shortages as companies seek alternative sources of supply and adjust their logistics and transportation routes. As a result of these factors, we may be unable to raise the prices of our products sufficiently to keep up with the rate of inflation, especially tariff-induced inflation. A material reduction or interruption in any of our manufacturing processes or a substantial increase in costs would have a material adverse effect on our business, operating results, and financial condition.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Many of our hospital customers, for whom the purchase of our system involves a significant capital purchase which may be part of a larger construction project at the customer site (typically the construction of a new building), may themselves be under similar pressures. Hospitals continue to experience challenges with staffing and cost pressures as supply chain constraints and inflation drive up operating costs. Hospitals may also be adversely affected by the liquidity concerns driven by elevated interest rates and the broader macroeconomic environment. These factors could cause delays or cancellations of current purchase orders and other commitments and may exacerbate the long and variable sales and installation cycles for our robotic magnetic navigation systems. Our hospital customers have also experienced challenges in sourcing supplies, such as catheters, needed to perform procedures. Such shortages have, and may continue to, put pressure on procedures and our disposable revenue. Delays in order placement, cancellation of existing orders and reduced demand or availability of our disposable products all would have a material adverse effect on our business, financial condition, and results of operations.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Any disruption to the capital markets could negatively impact our ability to raise capital. If the capital markets are disrupted for an extended period and we need to raise additional capital, such capital may not be available on acceptable terms, or at all. Disruptions to the capital markets and other financing sources could also negatively impact our hospital customers’ ability to raise capital or otherwise obtain financing to fund their operations and capital projects. Such could result in delayed spending on current projects, a longer sales cycle for new projects where a large capital commitment is required, and decreased demand for our disposable products as well as an increased risk of customer defaults or delays in payments for our system installations, service contracts and disposable products.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In addition to the macroeconomic factors, occurrences similar to the COVID-19 pandemic may negatively affect demand for both our systems and our disposable products. In the past, we have experienced business disruptions, including travel restrictions on us and our third-party distributors, which negatively affected our complex sales, marketing, installation, distribution and service network relating to our products and services. We also experienced reductions in demand for our disposable products as our healthcare customers (physicians and hospitals) re-prioritized the treatment of patients and diverted resources away from non-pandemic areas, leading to the performance of fewer procedures in which our disposable products are used. The impact varied widely over time by individual geography. For instance, in 2022, procedure volumes were challenged by periodic resurgences of COVID-19, ongoing hospital staffing issues and other factors. In the first quarter of 2023, COVID-19 resurgences in China continued to negatively impact our procedure volumes in that region, but as infections and hospitalization decreased, we saw a recovery of procedure volumes with no further impacts in the year. Significant decreases to our capital or recurring revenues could have a material adverse effect on our business, operating results, and financial condition. We continue to anticipate periodic disruptions to our manufacturing operations, supply chains, procedures volumes, service activities, and capital system orders and placements relating to new or ongoing periodic resurgences of pandemic-related issues, any of which could have a material adverse effect on our business, financial condition, results of operations, or cash flows.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Since our inception, we have generated significant losses. As of March 31, 2026, we have incurred cumulative net losses of approximately $<span id="xdx_901_eus-gaap--RetainedEarningsAccumulatedDeficit_iNI_pn5n6_di_c20260331_zSHGtJwuerNk" title="Cumulative net losses">589.2</span> million. In 2026, the Company plans to advance adoption of its robotic magnetic navigation systems and its proprietary devices in those markets where regulatory clearance has been received and to work with regulatory approval authorities in those geographies where approval is pending, with the goal of furthering clinical adoption and new system placements. We expect to incur additional losses in 2026 as we continue the development and commercialization of our products, conduct our research and development activities, advance new products into clinical development from our existing research programs and fund additional sales and marketing initiatives. During the remainder of 2026, we will continue to monitor the impact of the macroeconomic environment on our project timing, regulatory approvals, customer and supplier operations, and our operating results. Until we can generate significant cash flow from our operations, we expect to continue to fund our operations with cash resources primarily generated from the proceeds of our past and future public offerings, and private sales of our equity securities. We cannot accurately predict the timing and amount of our utilization of capital, which will depend on several factors outside of our control.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">While we believe our existing cash and cash equivalents, including the proceeds from our at-the-market offering program and July 2025 equity raise, will be sufficient to fund our operating expenses and capital equipment requirements, in light of the macroeconomic environment, we cannot guarantee that we will not need additional funding in the future. We will continue to explore financing alternatives, and we cannot guarantee that additional financing will be available on acceptable terms or that such financing will not be dilutive to our stockholders. If adequate funds are not available to us, we could be required to delay development or commercialization of new products, to license to third parties the rights to commercialize products or technologies that we would otherwise seek to commercialize ourselves, or to reduce the sales, marketing, customer support or other resources devoted to our products, any of which could have a material adverse effect on our business, financial condition, and operational results. As a result, we could be required to cease operations.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On April 14, 2026, the Company entered into an agreement to acquire Robocath, a venture-backed innovator of advanced mechanical robotic technology for interventional cardiology and neurointerventions headquartered in Rouen, France. The acquisition is subject to risks and uncertainties, the potential timing of the consummation of the proposed acquisition and the ability of the parties to consummate the proposed transaction; the satisfaction of the conditions precedent to consummation of the proposed transaction, any litigation related to the proposed transaction; disruption of Robocath’s or Stereotaxis’s current plans and operations as a result of the proposed transaction; the ability of Robocath or Stereotaxis to retain and hire key personnel; competitive responses to the proposed transaction; unexpected costs, charges or expenses resulting from the proposed transaction; the ability of Stereotaxis to successfully integrate Robocath’s operations, and continue the commercialization, development and sales of Robocath’s products and services; the ability of Stereotaxis to implement its plans, forecasts and other expectations with respect to Robocath’s business after the completion of the proposed transaction and realize additional opportunities for growth and innovation; the ability of Stereotaxis to realize the anticipated benefits from the proposed transaction in the anticipated amounts or within the anticipated timeframes or at all; the ability to maintain relationships with Stereotaxis’s and Robocath’s respective employees, customers, other business partners and governmental authorities See Note 12, <i>Subsequent Events</i>, for additional details about this proposed acquisition.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_844_eus-gaap--CashAndCashEquivalentsPolicyTextBlock_zpGIRfL0jjoe" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_865_zuv4r2OnIFke">Cash and Cash Equivalents</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cash and cash equivalents include cash on hand, money market instruments, and other highly liquid investments with original maturities of three months or less from the date of purchase.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_849_eus-gaap--CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy_zseCWdfzjcTf" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_860_zHX6CE2hUo74">Restricted Cash</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Restricted cash primarily consists of cash that the Company is obligated to maintain in accordance with contractual obligations. The Company did <span id="xdx_900_eus-gaap--RestrictedCash_iI_dxL_c20260331_zD6iRbWFojBb" title="Restricted cash::XDX::-"><span id="xdx_901_eus-gaap--RestrictedCash_iI_dxL_c20251231_zSrsmc6vqyP" title="Restricted cash::XDX::-"><span style="-sec-ix-hidden: xdx2ixbrl0520"><span style="-sec-ix-hidden: xdx2ixbrl0522">no</span></span></span></span>t have any restricted cash as of March 31, 2026, and December 31, 2025.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_845_eus-gaap--InvestmentPolicyTextBlock_z3YpbUdOCS0d" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_86C_zWPoEH3P35rl">Investments</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our investments may include, at any time, a diversified portfolio of cash equivalents and short-term and long-term investments in a variety of high-quality securities, including money market funds, U.S. treasury and U.S. government agency securities, corporate notes and bonds, commercial paper, non-U.S. government agency securities, and municipal notes. As of March 31, 2026, and December 31, 2025, the Company had <span id="xdx_90B_eus-gaap--ShortTermInvestments_iI_dxL_c20260331_zQpEUIbmEhkg" title="Short-term investments::XDX::-"><span id="xdx_907_eus-gaap--ShortTermInvestments_iI_dxL_c20251231_zi5SjDhqo1Lh" title="Short-term investments::XDX::-"><span style="-sec-ix-hidden: xdx2ixbrl0526"><span style="-sec-ix-hidden: xdx2ixbrl0528">no</span></span></span></span> short-term investments.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Amortized cost of U.S. treasury securities and marketable debt securities are based on the Company’s purchase price adjusted for accrual of discount, or amortization of premium, and recognition of impairment charges, if any. The amortized cost of securities the Company purchases at a discount or premium will equal the face or par value at maturity or the call date, if applicable. Stated interest on investments is reported as income when earned and is adjusted for amortization or accretion of any premium or discount. Accrued interest receivable on money market instruments, included in other current assets, was less than $<span id="xdx_90F_ecustom--AccruedInterestReceivableOnInvestment_iI_pn5n6_c20260331__us-gaap--StatementOfFinancialPositionLocationBalanceAxis__STXS--OtherCurrentAssetsMember__srt--RangeAxis__srt--MaximumMember_zWdpQrzfdETf" title="Accrued interest receivable on investments"><span id="xdx_905_ecustom--AccruedInterestReceivableOnInvestment_iI_pn5n6_c20251231__us-gaap--StatementOfFinancialPositionLocationBalanceAxis__STXS--OtherCurrentAssetsMember__srt--RangeAxis__srt--MaximumMember_zO43JRPjpYGi" title="Accrued interest receivable on investments">0.1</span></span> million as of March 31, 2026, and December 31, 2025.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company segments its portfolio based on the underlying risk profiles of the securities and has a zero-loss expectation for U.S. treasury and U.S. government agency securities. The Company regularly reviews the securities using the probability of default method and analyzes the unrealized loss positions and evaluates the current expected credit loss by considering factors such as credit ratings, issuer-specific factors, current economic conditions, and reasonable and supportable forecasts. <span id="xdx_905_ecustom--ExpectedCreditLossOnInvestmentsAndAccruedInterestDescription_c20260101__20260331_zlbkaABlJ2pg" title="Expected credit loss on investments or accrued interest, description">The Company did not have any material expected credit losses on investments or material expected credit losses on accrued interest related to investments during the three months ended March 31, 2026, or year ended December 31, 2025.</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_849_eus-gaap--FairValueMeasurementPolicyPolicyTextBlock_zGAR4y6ga9Eg" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_86A_z4vLSM93lHM">Fair Value Measurements</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Financial instruments consist of cash and cash equivalents, restricted cash, investments, accounts receivable, and accounts payable.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company measures certain financial assets and liabilities at fair value on a recurring basis. General accounting principles for fair value measurement establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets and liabilities (“Level 1”) and the lowest priority to unobservable inputs (“Level 3”). The three levels of the fair value hierarchy are described below:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; background-color: white; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level 1:</span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.1in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Values are based on unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities.</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level 2:</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Values are based on quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, or other model-based valuation techniques for which all significant assumptions are observable in the market.</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level 3:</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Values are generated from model-based techniques that use significant assumptions not observable in the market.</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of March 31, 2026, and December 31, 2025, financial assets classified as Level 2 consisted of money market funds. The Company reviews trading activity and pricing for these investments as of the measurement date. When sufficient quoted pricing for identical securities is not available, the Company uses market pricing and other observable market inputs for similar securities. These inputs either represent quoted prices for similar assets in active markets or have been derived from observable market data. This approach results in the Level 2 classification of these securities within the fair value hierarchy.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of March 31, 2026, and December 31, 2025, financial liabilities classified as Level 3 consisted of the contingent consideration due to the APT acquisition. The Company reviews the change in the fair value of contingent consideration, which is performed by a third-party valuation firm. See <i>Contingent Liabilities- Earnout Consideration </i>section below for further information regarding the valuation methods used by the third-party valuation firm. The approach results in the Level 3 classification of the contingent consideration within the fair value hierarchy.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_848_eus-gaap--TradeAndOtherAccountsReceivablePolicy_zQU2k8ZBDcmc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_865_zLemS2OcziIk">Accounts Receivable, Contract Assets, and Allowance for Credit Losses</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accounts receivable primarily include amounts due from hospitals and distributors for acquisition of robotic magnetic navigation systems, associated disposable device sales and service contracts, net of allowances for expected credit losses. Credit is granted on a limited basis, with balances due generally within 30 days of billing. Contract assets primarily represent the difference between the revenue that was earned but not billed on service contracts and revenue from system contracts that was recognized based on the relative selling price of the related performance obligations and the contractual billing terms in the arrangements. The Company reports accounts receivable and contract assets net of an allowance for expected credit losses in accordance with Accounting Standards Codification Topic 326, Financial Instruments – Credit Losses (“ASC 326”). The provision for credit loss is based upon management’s assessment of historical and expected net collections considering business and economic conditions and other collection indicators. We assess collectability by reviewing the accounts receivable aging schedule on an aggregated basis where similar characteristics exist and on an individual basis when we identify specific customers with known disputes or collectability issues. Amounts deemed uncollectible are recorded as an allowance for expected credit losses.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_841_eus-gaap--RevenueRecognitionPolicyTextBlock_z7twWCLqcHYe" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_868_zejnAsbvtQl3">Revenue and Costs of Revenue</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company accounts for revenue in accordance with Accounting Standards Codification Topic 606 (“ASC 606”), <i>Revenue from Contracts with Customers</i>.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We generate revenue from the initial capital sales of systems as well as recurring revenue from the sale of our proprietary disposable devices, from royalties paid to the Company on the sale of various devices as provided by co-development and co-placement arrangements, and from other recurring revenue including ongoing software updates and service contracts.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We account for a contract with a customer when there is a legally enforceable contract between the Company and the customer, the rights of the parties are identified, the contract has commercial substance, and collectability of the contract consideration is probable. We record our revenue based on consideration specified in the contract with each customer, net of any taxes collected from customers that are remitted to government authorities.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For contracts containing multiple products and services, the Company accounts for individual products and services as separate performance obligations if they are distinct, which is if a product or service is separately identifiable from other items in the bundled package, and if a customer can benefit from it on its own or with other resources that are readily available to the customer. The Company recognizes revenues as the performance obligations are satisfied by transferring control of the product or service to a customer.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For arrangements with multiple performance obligations, revenue is allocated to each performance obligation based on its relative standalone selling price. Standalone selling prices are based on observable prices at which the Company separately sells the products or services. If a standalone selling price is not directly observable, then the Company estimates the standalone selling price considering market conditions and entity-specific factors including, but not limited to, features and functionality of the products and services and market conditions. The Company regularly reviews standalone selling prices and updates these estimates if necessary.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our revenue recognition policy affects the following revenue streams in our business as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline">Systems:</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Contracts related to the sale of systems typically contain separate obligations for the delivery of system(s), installation, and a service-type warranty for one year following installation. Revenue is recognized when the Company transfers control to the customer, which is generally at the point when acceptance occurs that indicates customer acknowledgment of delivery or installation, depending on the terms of the arrangement. Revenue from service-type warranties is included in Other Recurring Revenue and is recognized ratably typically over the first year following installation of the system as the customer receives the service-type warranty throughout the period. The Company’s system contracts generally do not provide a right of return. Systems may be covered by a one-year assurance-type warranty in lieu of a service-type warranty. Assurance-type warranty costs were less than $<span id="xdx_90F_eus-gaap--ProductWarrantyExpense_pn5n6_c20260101__20260331__srt--ProductOrServiceAxis__custom--SystemsMember_zlZWFCkQGmW5" title="Warranty costs"><span id="xdx_908_eus-gaap--ProductWarrantyExpense_pn5n6_c20250101__20250331__srt--ProductOrServiceAxis__custom--SystemsMember_zgN9zDn6aBeb" title="Warranty costs">0.1</span></span> for the three months ended March 31, 2026, and 2025. Revenue from system delivery and installation represented <span id="xdx_90A_ecustom--ConcentrationRiskThresholdPercentage_pid_dp_c20260101__20260331__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--RevenueFromSystemDeliveryAndInstallationMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember_zhuK7TbpbRjl" title="Revenue from system delivery and installation">21</span>% and <span id="xdx_90A_ecustom--ConcentrationRiskThresholdPercentage_pid_dp_c20250101__20250331__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--RevenueFromSystemDeliveryAndInstallationMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember_z8gEQRGAatpk" title="Revenue from system delivery and installation">26</span>% of revenue for the three months ended March 31, 2026, and 2025, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline">Disposables:</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Revenue from sales of disposable products is recognized when control is transferred to the customers, which generally occurs at the time of shipment, but can also occur at the time of delivery depending on the customer arrangement. Disposable products are covered by an assurance type warranty that provides for the return of defective products. Warranty costs were not material for the three months ended March 31, 2026, and 2025. Disposable revenue represented <span id="xdx_903_ecustom--ConcentrationRiskThresholdPercentage_pid_dp_c20260101__20260331__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--DisposableRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember_zQCIFLfVA8si" title="Concentration risk percentage">37</span>% and <span id="xdx_901_ecustom--ConcentrationRiskThresholdPercentage_pid_dp_c20250101__20250331__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--DisposableRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember_zYhMylSlck25" title="Concentration risk percentage">39</span>% of revenue for the three months ended March 31, 2026, and 2025, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline">Royalty:</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company receives royalties on the sale of various devices as provided by co-development and co-placement arrangements with various manufacturers. There was <span id="xdx_90A_eus-gaap--Revenues_do_c20260101__20260331__srt--ProductOrServiceAxis__us-gaap--RoyaltyMember_zyCyMhjac01d" title="Royalty revenue"><span id="xdx_902_eus-gaap--Revenues_do_c20250101__20250331__srt--ProductOrServiceAxis__us-gaap--RoyaltyMember_zbre3jEWKwYi" title="Royalty revenue">no</span></span> royalty revenue for the three months ended March 31, 2026, and 2025, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline">Other Recurring Revenue:</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Other recurring revenue includes revenue from product maintenance plans, service-type warranties, and other post warranty maintenance. Revenue from services and software enhancements, including service-type warranties, are deferred and amortized over the service or update period, which is typically one year. Revenue related to services performed on a time-and-materials basis is recognized when performed. Other recurring revenue represented <span id="xdx_909_ecustom--ConcentrationRiskThresholdPercentage_pid_dp_c20260101__20260331__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--OtherRecurringRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember_zubbnRod89F2" title="Concentration risk percentage">42</span>% and <span id="xdx_90F_ecustom--ConcentrationRiskThresholdPercentage_pid_dp_c20250101__20250331__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--OtherRecurringRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember_zorC6ZYtYMOa" title="Concentration risk percentage">35</span>% of revenue for the three months ended March 31, 2026, and 2025, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_893_eus-gaap--DisaggregationOfRevenueTableTextBlock_zcONE8lmHzpb" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table summarizes the Company’s revenue for systems, disposables, and service and accessories for the three months ended March 31, 2026, and 2025 (in thousands):</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B6_ztduRBJFCWLj" style="display: none">Schedule of Revenue Disaggregated by Type</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="display: none; vertical-align: bottom; background-color: White"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_492_20260101__20260331_zYWqsbc3Qyuk" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2026</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_490_20250101__20250331_zKD13IRt3w74" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2025</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Three Months Ended March 31,</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td style="font-weight: bold"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="font-weight: bold; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_hsrt--ProductOrServiceAxis__custom--SystemsMember_zKJqePEZT9S" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%">Systems</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">1,319</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">1,964</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_hsrt--ProductOrServiceAxis__custom--DisposablesServiceAndAccessoriesMember_zLwGMunzFEYh" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Disposables, service and accessories</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">4,972</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">5,508</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_zBn6SvS9UMi8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Total revenue</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">6,291</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">7,472</td><td style="text-align: left"> </td></tr> </table> <p id="xdx_8AE_zHPH4f2BSUx3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Transaction price allocated to remaining performance obligations relates to amounts allocated to products and services for which the revenue has not yet been recognized. A significant portion of this amount relates to the Company’s systems contracts and obligations that will be recognized as revenue in future periods. These obligations are generally satisfied within two years after contract inception but may occasionally extend longer. Transaction price representing revenue to be earned on remaining performance obligations on system contracts was approximately $<span id="xdx_90B_eus-gaap--RevenueRemainingPerformanceObligation_iI_pn5n6_c20260331_zqYrfowjK37a" title="Remaining performance obligations">10.0</span> million as of March 31, 2026. Performance obligations arising from contracts for disposables and service are generally expected to be satisfied within one year after entering into the contract.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_893_eus-gaap--ContractWithCustomerAssetAndLiabilityTableTextBlock_zWHx1c1cllx1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table summarizes the Company’s contract assets and liabilities (in thousands):</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span id="xdx_8B2_zkf84q99AjAk" style="display: none">Summary of Contract Assets and Liabilities</span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td style="font-weight: bold"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td id="xdx_499_20260331_zymYT0wSb6B2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">March 31, 2026</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td id="xdx_495_20251231_zv9uZUedyUxb" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2025</td><td style="font-weight: bold; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--ContractWithCustomerAssetNet_iI_pn3n3_hsrt--ProductOrServiceAxis__custom--ContractAssetsUnbilledReceivablesMember_zumK6eg9vWV7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Contract Assets - unbilled receivables</td><td style="width: 2%"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 16%; text-align: right">580</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 16%; text-align: right">276</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--ContractWithCustomerAssetNet_iI_pn3n3_zPPAi24NCyag" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Total unbilled receivables</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">580</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">276</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--ContractWithCustomerLiability_iI_pn3n3_hsrt--ProductOrServiceAxis__custom--CustomerDepositsMember_zrt3MFvDy2y1" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Customer deposits</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">1,310</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">1,070</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--ContractWithCustomerLiability_iI_pn3n3_hsrt--ProductOrServiceAxis__custom--ProductShippedRevenueDeferredMember_ziUY5ON69Cyl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0pt; text-align: left">Product shipped, revenue deferred</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">781</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">993</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--ContractWithCustomerLiability_iI_pn3n3_hsrt--ProductOrServiceAxis__custom--DeferredServiceAndLicenseFeesMember_zlMFhwmGfqab" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 0pt; text-align: left">Deferred service and license fees</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">4,973</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">4,167</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--ContractWithCustomerLiability_iI_pn3n3_zSE3MsySRak" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0pt; text-align: left">Total deferred revenue</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">7,064</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">6,230</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--ContractWithCustomerLiabilityNoncurrent_iNI_pn3n3_di_zVN7nKtYO7hk" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 0pt; text-align: justify">Less: Long-term deferred revenue</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(523</td><td style="text-align: left">)</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(555</td><td style="text-align: left">)</td></tr> <tr id="xdx_400_eus-gaap--ContractWithCustomerLiabilityCurrent_iI_pn3n3_zqV1HCUX0ss4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0pt; text-align: justify">Total current deferred revenue</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">6,541</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">5,675</td><td style="text-align: left"> </td></tr> </table> <p id="xdx_8A4_zygVeebSkoyb" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company invoices its customers based on the billing schedules in its sales arrangements. Contract assets primarily represent the difference between the revenue that was earned but not billed on service contracts and revenue from system contracts that was recognized based on the standalone selling price of the related performance obligations and the contractual billing terms in the arrangements. Customer deposits primarily relate to future system sales but can also include deposits on disposable sales. Deferred revenue is primarily related to service contracts, for which the service fees are billed up-front, generally quarterly or annually, and for amounts billed in advance for system contracts for which some performance obligations remain outstanding. For service contracts, the associated deferred revenue is generally recognized ratably over the service period. For system contracts, the associated deferred revenue is recognized when the remaining performance obligations are satisfied. The Company did not have any impairment losses on its contract assets for the periods presented.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Revenue recognized for the three months ended March 31, 2026, and 2025, that was included in the deferred revenue balance at the beginning of each reporting period was $<span id="xdx_90A_eus-gaap--ContractWithCustomerLiabilityRevenueRecognized_pn5n6_c20260101__20260331_zXjQVDaKiRC2" title="Contract with customer liability revenue recognized">2.5</span> million and $<span id="xdx_90B_eus-gaap--ContractWithCustomerLiabilityRevenueRecognized_pn5n6_c20250101__20250331_zjvNN0rs4NYk" title="Contract with customer liability revenue recognized">2.2</span> million, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_84D_eus-gaap--RevenueFromContractWithCustomerPolicyTextBlock_zu8D9gcM1mw" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_867_zNq6AlA2l6Z1">Assets Recognized from the Costs to Obtain a Contract with a Customer</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company has determined that sales incentive programs for the Company’s sales team meet the requirements to be capitalized as the Company expects to generate future economic benefits from the related revenue generating contracts after the initial capital sales transaction. The costs capitalized as contract acquisition costs included in prepaid expenses and other assets, in the Company’s consolidated balance sheet were approximately $<span id="xdx_906_eus-gaap--CapitalizedContractCostNet_iI_pn5n6_c20260331_zz2RWhkiZWVd" title="Capitalized contract cost">0.2</span> million and $<span id="xdx_90A_eus-gaap--CapitalizedContractCostNet_iI_pn5n6_c20251231_zA53Jyhw8HKf" title="Capitalized contract cost">0.1</span> million as of March 31, 2026, and December 31, 2025, respectively. The Company did not incur any impairment losses during any of the periods presented.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Cost of Contracts</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Costs of systems revenue include direct product costs, installation labor and other costs including estimated assurance-type warranty costs, and initial training costs, when applicable. These costs are recognized at the time of sale. Costs of disposable revenue include direct product costs and estimated warranty costs and are recognized at the time of sale. Cost of revenue from services and license fees are recognized when incurred.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_84D_eus-gaap--GoodwillAndIntangibleAssetsPolicyTextBlock_zsFbnyWM3eZb" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_86F_zUt6VxyNHtLl">Goodwill and Intangible Assets</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Goodwill represents the excess of the purchase price over the fair value of the net assets acquired in business combinations and is allocated to the appropriate reporting unit when acquired. Other acquired intangible assets are stated at the fair value acquired. Goodwill is not amortized; rather, it is evaluated for impairment annually and whenever events or changes in circumstances indicate that the value of the asset may be impaired. Definite-lived intangible assets are considered long-lived assets and are amortized on a straight-line basis over the periods that expected economic benefits will be provided.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_84A_eus-gaap--CommitmentsAndContingenciesPolicyTextBlock_z5pmpvLIk9J4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_860_z17yDKtXiwvf">Contingent Liabilities- Earnout Consideration</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company has determined that the contingent consideration due under the terms of its July 31, 2024, acquisition agreement with APT Holding Company, Inc. represents a contingent liability in accordance with the provisions of ASC 805, Business Combinations. The Company has established short-term and long-term contingent liabilities for the net present fair value of contingent payments which are both probable of occurrence and reasonably estimable. The initial fair value of the contingent consideration was determined by a third-party valuation firm using both a Monte Carlo simulation and probability-based approaches. The contingent consideration is remeasured to fair value at each reporting date until the contingency is resolved. Changes in fair value are recognized in the Company’s earnings as a charge to General and Administrative expenses. See Note 10 under the subheading “<i>Access Point Technologies Share Purchase Agreement” </i>for further discussion of the contingent consideration recorded as of March 31, 2026.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_84E_eus-gaap--LesseeLeasesPolicyTextBlock_zzIJLeAg2Kei" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_865_zLS7afsaOEok">Leasing Arrangements</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A lease is defined as a contract, or part of a contract, that conveys the right to control the use of identified property, plant or equipment for a period of time in exchange for consideration. The Company accounts for leases in accordance with Accounting Standards Update No. 2016-02 “Leases” (Topic 842) and all subsequent ASUs that modified Topic 842 (“ASC 842”). The Company determines if an arrangement contains a lease at inception.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company leases its facilities under operating leases. In accordance with ASC 842, operating lease agreements are recognized on the consolidated balance sheet as a right-of-use (“ROU”) asset and a corresponding lease liability. These leases generally do not have significant rent escalation holidays, concessions, leasehold improvement incentives, or other build-out clauses. Further, the leases do not contain contingent rent provisions. Many of our leases include both lease (i.e., fixed payments including rent, taxes, and insurance costs) and non-lease components (i.e., common-area or other maintenance costs) which are accounted for as a single lease component as we have elected the practical expedient to group lease and non-lease components for all leases.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s lease agreements often include one or more options to renew at the Company’s discretion. If at lease inception, the Company considers the exercising of a renewal option to be reasonably certain, the Company will include the extended term in the calculation of the ROU asset and lease liability. The Company elected not to include short-term leases (i.e., leases with initial terms of twelve months or less) on the consolidated balance sheet.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The calculated amounts of the ROU assets and lease liabilities are impacted by the length of the lease term and the discount rate used to calculate the present value of the minimum lease payments. ASC 842 requires the use of the discount rate implicit in the lease whenever this rate is readily determinable. As this rate is rarely determinable, the Company utilizes its incremental borrowing rate at lease inception.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_84D_eus-gaap--ShareBasedCompensationOptionAndIncentivePlansPolicy_zEp1l5HY2JAd" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_865_zcsOUnAZzqne">Stock-Based Compensation</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company accounts for its grants of stock options, non-qualified stock options, stock appreciation rights, restricted shares, restricted stock units and for its employee stock purchase plan in accordance with the provisions of general accounting principles for share-based payments. These accounting principles require the determination of the fair value of the stock-based compensation at the grant date and the recognition of the related expense over the period in which the stock-based compensation vests.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For time-based awards, the Company utilizes the Black-Scholes valuation model to determine the fair value of stock options and stock appreciation rights at the date of grant. The weighted average assumptions and fair value for options granted during the three months ended March 31, 2026, were 1) expected dividend rate of <span id="xdx_90A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate_pid_dp_uPure_c20260101__20260331_z1zSGihc5DRk" title="Expected dividend rate">0</span>%; 2) expected volatility of <span id="xdx_902_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_pid_dp_c20260101__20260331_zGmURr1guRk" title="Expected volatility">75</span>% based on the Company’s historical volatility; 3) risk-free interest rate based on the Treasury yield on the date of grant; and 4) expected term of <span id="xdx_905_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_dtY_c20260101__20260331_zVVPVSYByGAf" title="Expected term">6.25</span> years. The resulting compensation expense is recognized over the requisite service period, which is generally four years, net of actual forfeitures. Restricted shares and units granted to employees and non-employee directors are valued at the fair market value at the date of grant. The Company amortizes the fair market value to expense over the service period, which is generally four years except for grants to directors which are generally earned over a period of six months. If the shares are subject to performance objectives, the resulting compensation expense is amortized over the anticipated vesting period and is subject to adjustment based on the actual achievement of objectives.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For market-based awards, stock-based compensation expense is recognized over the minimum service period regardless of whether the market target is probable of being achieved. The fair value of such awards is estimated on the grant date using Monte Carlo simulations.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Shares purchased by employees under the 2022 Employee Stock Purchase Plans are considered to be non-compensatory.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_846_eus-gaap--EarningsPerSharePolicyTextBlock_zzQHNjfib0fc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_864_zET6Nwnoajl6">Net Loss per Common Share</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Basic earnings (loss) per common share is computed by dividing the net earnings (loss) for the period by the weighted average number of common shares outstanding during the period. In periods where there is net income, we apply the two-class method to calculate basic and diluted net income (loss) per share of common stock, as our convertible preferred stock is a participating security. The two-class method is an earnings allocation formula that treats a participating security as having rights to earnings that otherwise would have been available to common stockholders. In periods where there is a net loss, the two-class method of computing earnings per share does not apply as our convertible preferred stock does not contractually participate in our losses. We compute diluted net income (loss) per common share using net income (loss) as the “control number” in determining whether potential common shares are dilutive, after giving consideration to all potentially dilutive common shares, including stock options, warrants, unvested restricted stock units outstanding during the period and potential issuance of stock upon the conversion of our convertible preferred stock issued and outstanding during the period, except where the effect of such securities would be antidilutive.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89C_eus-gaap--ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock_z0K5UhenJrT6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table sets forth the computation of basic and diluted EPS (in thousands except for share and per share amounts):</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8BE_zwjCjPPdgd66" style="display: none">Schedule of Computation of Basic and Diluted Earnings Per Share</span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="display: none; vertical-align: bottom; background-color: White"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_493_20260101__20260331_zVVLebSo3qv4" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2026</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_496_20250101__20250331_zlS24us9ADOf" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2025</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Three Months Ended March 31,</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td style="font-weight: bold"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="font-weight: bold; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--NetIncomeLoss_pn3n3_z5UV7k4BKJr2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Net loss</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">(5,861</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">(5,823</td><td style="width: 1%; text-align: left">)</td></tr> <tr id="xdx_400_eus-gaap--PreferredStockDividendsIncomeStatementImpact_iN_pn3n3_di_z8GdykGnEUa4" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Cumulative dividend on convertible preferred stock</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(311</td><td style="text-align: left">)</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(314</td><td style="text-align: left">)</td></tr> <tr id="xdx_404_eus-gaap--NetIncomeLossAvailableToCommonStockholdersBasic_pn3n3_z2DUyKSOUo2d" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Net loss attributable to common stockholders</td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(6,172</td><td style="text-align: left">)</td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(6,137</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Weighted average number of common shares and equivalents:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_905_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_pid_c20260101__20260331_zGqFKJKvHBZh" title="Weighted average number of common shares and equivalents, basic"><span id="xdx_90D_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_pid_c20260101__20260331_zQSGrosxVfw1" title="Weighted average number of common shares and equivalents, diluted">98,891,179</span></span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_907_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_pid_c20250101__20250331_zOeDRbZVSfHb" title="Weighted average number of common shares and equivalents, basic"><span id="xdx_903_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_pid_c20250101__20250331_zzNHVlY24whc" title="Weighted average number of common shares and equivalents, diluted">87,769,366</span></span></td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--EarningsPerShareBasic_pid_z0209J3mJdAb" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Basic EPS</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(0.06</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(0.07</td><td style="text-align: left">)</td></tr> <tr id="xdx_406_eus-gaap--EarningsPerShareDiluted_pid_zbbuAseR7e22" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Diluted EPS</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(0.06</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(0.07</td><td style="text-align: left">)</td></tr> </table> <p id="xdx_8A2_zgnxwT8ZkmGc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company did not include any portion of unearned restricted shares, outstanding options, stock appreciation rights, warrants or convertible preferred stock in the calculation of diluted loss per common share because all such securities are anti-dilutive for all periods presented. The application of the two-class method of computing earnings per share under general accounting principles for participating securities is not applicable during these periods because those securities do not contractually participate in its losses.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of March 31, 2026, the Company had <span id="xdx_90C_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_c20260101__20260331__us-gaap--AwardTypeAxis__custom--StockOptionsandStockAppreciationRightsMember_zZwljZDPMkgc" title="Exercise of outstanding">4,102,414</span> shares of common stock issuable upon the exercise of outstanding options and stock appreciation rights at a weighted average exercise price of $<span id="xdx_909_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iI_pid_c20260331__us-gaap--AwardTypeAxis__custom--StockOptionsandStockAppreciationRightsMember_zMCjF2DMuW2g" title="Weighted average exercise price">3.48</span> per share, <span id="xdx_90A_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_c20260101__20260331__us-gaap--StatementEquityComponentsAxis__custom--SeriesAConvertiblePreferredStockMember_z7LyIzx4iSY1" title="Exercise of outstanding">50,755,686</span> shares of our common stock issuable upon conversion of our Series A Convertible Preferred Stock, and <span id="xdx_907_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_c20260101__20260331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember_zfaESaplNERf">2,587,321</span> shares of unvested restricted share units. awarded under the 2022 Stock Purchase Plan, and <span id="xdx_90D_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_c20260101__20260331__us-gaap--AwardTypeAxis__custom--TwoThousandTwentyOneCEOPerformanceAwardUnitGrantMember_zAQhUHJEpGll" title="Antidilutive securities excluded amount">13,000,000</span> unvested share units relating to the 2021 CEO Performance Award Unit Grant. The Company had <span id="xdx_90D_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_do_c20260101__20260331__us-gaap--AwardTypeAxis__custom--UnearnedRestrictedSharesMember_zLheDBTjkn45" title="Antidilutive securities">no</span> unearned restricted shares outstanding as of March 31, 2026.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_841_eus-gaap--NewAccountingPronouncementsPolicyPolicyTextBlock_zuwlnDQsuQQ4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_864_zKyyRKmiXTil">Recently Issued Accounting Pronouncements</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In November 2024, the FASB issued ASU 2024-03, <i>Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses </i>(“ASU 2024-03”), which requires disclosure about the types of costs and expenses included in certain expense captions presented on the income statement. The new disclosure requirements are effective for the Company’s annual periods beginning after December 15, 2026, and interim periods beginning after December 15, 2027, with early adoption permitted. The Company is currently in the process of evaluating the impact of this pronouncement on its related disclosures.</span></p> <p id="xdx_852_zfo5huCZ02Q" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_847_eus-gaap--BasisOfAccountingPolicyPolicyTextBlock_z2SAAfx5LoLk" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_869_zsWiLRADB39e">Basis of Presentation</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The accompanying unaudited consolidated financial statements of Stereotaxis, Inc. have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information and the instructions to Form 10-Q. Accordingly, they do not include all the disclosures required by GAAP for complete consolidated financial statements. In the opinion of management, they include all adjustments, consisting only of normal recurring adjustments, necessary for a fair presentation of the results for the interim periods presented. Operating results for the three-month period ended March 31, 2026, are not necessarily indicative of the results that may be expected for the year ending December 31, 2026, or for future operating periods.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">These interim consolidated financial statements and the related notes should be read in conjunction with the annual consolidated financial statements and notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025, as filed with the Securities and Exchange Commission (SEC) on March 12, 2026.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 40pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 40pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 40pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_84B_eus-gaap--ConcentrationRiskCreditRisk_zTcE0QvEC92l" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_86A_zdRwC2D0deQe">Risks and Uncertainties</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Future results of operations and liquidity could be materially adversely impacted by uncertainties in macroeconomic and geopolitical factors in both the U.S. and globally including continuing introduction of new or modification of existing tariffs or trade barriers, supply chain challenges, inflationary pressures, elevated interest rates, and disruptions in commodity markets stemming from conflicts, such as those between Russia and Ukraine and conflicts in the Middle East, including Israel and Iran. The Company continues to experience difficulties with periodic worldwide supply chain disruptions, including shortages and inflationary pressures, tariffs and other trade regulations that are or may be imposed, and logistics delays which make it difficult for us to source parts and ship our products.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In particular, recent tariff changes imposed by the U.S. and other countries have created increased risks and uncertainties surrounding the Company’s future results of operations. The U.S. import tariffs, along with any reciprocal measures by other countries, may increase the Company’s cost of raw materials and finished goods imported from outside of the U.S. Additionally, the Company anticipates that some of its suppliers will incur incremental tariff-related costs, which may be passed on to the Company. The ultimate impact of changes to tariffs or trade barriers will depend on various factors, including the timing, amount, scope, and nature of any tariffs or trade barriers that are implemented.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We continue to evaluate the macroeconomic business environment, taking action to increase inventory levels where appropriate and engaging in discussions with our vendors on contractual obligations, but we cannot guarantee that our business activities will not be impacted more severely in the future. Our suppliers and contract manufacturers have experienced, and may continue to experience, similar difficulties. If our manufacturing operations or supply chains are materially interrupted, it may not be possible for us to timely manufacture or service our products at required levels, or at all. Changes in economic conditions, government shutdowns, tariff escalation, retaliatory measures and new import restrictions could lead to higher inflation than previously experienced or expected, which could, in turn create supply shortages as companies seek alternative sources of supply and adjust their logistics and transportation routes. As a result of these factors, we may be unable to raise the prices of our products sufficiently to keep up with the rate of inflation, especially tariff-induced inflation. A material reduction or interruption in any of our manufacturing processes or a substantial increase in costs would have a material adverse effect on our business, operating results, and financial condition.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Many of our hospital customers, for whom the purchase of our system involves a significant capital purchase which may be part of a larger construction project at the customer site (typically the construction of a new building), may themselves be under similar pressures. Hospitals continue to experience challenges with staffing and cost pressures as supply chain constraints and inflation drive up operating costs. Hospitals may also be adversely affected by the liquidity concerns driven by elevated interest rates and the broader macroeconomic environment. These factors could cause delays or cancellations of current purchase orders and other commitments and may exacerbate the long and variable sales and installation cycles for our robotic magnetic navigation systems. Our hospital customers have also experienced challenges in sourcing supplies, such as catheters, needed to perform procedures. Such shortages have, and may continue to, put pressure on procedures and our disposable revenue. Delays in order placement, cancellation of existing orders and reduced demand or availability of our disposable products all would have a material adverse effect on our business, financial condition, and results of operations.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Any disruption to the capital markets could negatively impact our ability to raise capital. If the capital markets are disrupted for an extended period and we need to raise additional capital, such capital may not be available on acceptable terms, or at all. Disruptions to the capital markets and other financing sources could also negatively impact our hospital customers’ ability to raise capital or otherwise obtain financing to fund their operations and capital projects. Such could result in delayed spending on current projects, a longer sales cycle for new projects where a large capital commitment is required, and decreased demand for our disposable products as well as an increased risk of customer defaults or delays in payments for our system installations, service contracts and disposable products.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In addition to the macroeconomic factors, occurrences similar to the COVID-19 pandemic may negatively affect demand for both our systems and our disposable products. In the past, we have experienced business disruptions, including travel restrictions on us and our third-party distributors, which negatively affected our complex sales, marketing, installation, distribution and service network relating to our products and services. We also experienced reductions in demand for our disposable products as our healthcare customers (physicians and hospitals) re-prioritized the treatment of patients and diverted resources away from non-pandemic areas, leading to the performance of fewer procedures in which our disposable products are used. The impact varied widely over time by individual geography. For instance, in 2022, procedure volumes were challenged by periodic resurgences of COVID-19, ongoing hospital staffing issues and other factors. In the first quarter of 2023, COVID-19 resurgences in China continued to negatively impact our procedure volumes in that region, but as infections and hospitalization decreased, we saw a recovery of procedure volumes with no further impacts in the year. Significant decreases to our capital or recurring revenues could have a material adverse effect on our business, operating results, and financial condition. We continue to anticipate periodic disruptions to our manufacturing operations, supply chains, procedures volumes, service activities, and capital system orders and placements relating to new or ongoing periodic resurgences of pandemic-related issues, any of which could have a material adverse effect on our business, financial condition, results of operations, or cash flows.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Since our inception, we have generated significant losses. As of March 31, 2026, we have incurred cumulative net losses of approximately $<span id="xdx_901_eus-gaap--RetainedEarningsAccumulatedDeficit_iNI_pn5n6_di_c20260331_zSHGtJwuerNk" title="Cumulative net losses">589.2</span> million. In 2026, the Company plans to advance adoption of its robotic magnetic navigation systems and its proprietary devices in those markets where regulatory clearance has been received and to work with regulatory approval authorities in those geographies where approval is pending, with the goal of furthering clinical adoption and new system placements. We expect to incur additional losses in 2026 as we continue the development and commercialization of our products, conduct our research and development activities, advance new products into clinical development from our existing research programs and fund additional sales and marketing initiatives. During the remainder of 2026, we will continue to monitor the impact of the macroeconomic environment on our project timing, regulatory approvals, customer and supplier operations, and our operating results. Until we can generate significant cash flow from our operations, we expect to continue to fund our operations with cash resources primarily generated from the proceeds of our past and future public offerings, and private sales of our equity securities. We cannot accurately predict the timing and amount of our utilization of capital, which will depend on several factors outside of our control.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">While we believe our existing cash and cash equivalents, including the proceeds from our at-the-market offering program and July 2025 equity raise, will be sufficient to fund our operating expenses and capital equipment requirements, in light of the macroeconomic environment, we cannot guarantee that we will not need additional funding in the future. We will continue to explore financing alternatives, and we cannot guarantee that additional financing will be available on acceptable terms or that such financing will not be dilutive to our stockholders. If adequate funds are not available to us, we could be required to delay development or commercialization of new products, to license to third parties the rights to commercialize products or technologies that we would otherwise seek to commercialize ourselves, or to reduce the sales, marketing, customer support or other resources devoted to our products, any of which could have a material adverse effect on our business, financial condition, and operational results. As a result, we could be required to cease operations.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On April 14, 2026, the Company entered into an agreement to acquire Robocath, a venture-backed innovator of advanced mechanical robotic technology for interventional cardiology and neurointerventions headquartered in Rouen, France. The acquisition is subject to risks and uncertainties, the potential timing of the consummation of the proposed acquisition and the ability of the parties to consummate the proposed transaction; the satisfaction of the conditions precedent to consummation of the proposed transaction, any litigation related to the proposed transaction; disruption of Robocath’s or Stereotaxis’s current plans and operations as a result of the proposed transaction; the ability of Robocath or Stereotaxis to retain and hire key personnel; competitive responses to the proposed transaction; unexpected costs, charges or expenses resulting from the proposed transaction; the ability of Stereotaxis to successfully integrate Robocath’s operations, and continue the commercialization, development and sales of Robocath’s products and services; the ability of Stereotaxis to implement its plans, forecasts and other expectations with respect to Robocath’s business after the completion of the proposed transaction and realize additional opportunities for growth and innovation; the ability of Stereotaxis to realize the anticipated benefits from the proposed transaction in the anticipated amounts or within the anticipated timeframes or at all; the ability to maintain relationships with Stereotaxis’s and Robocath’s respective employees, customers, other business partners and governmental authorities See Note 12, <i>Subsequent Events</i>, for additional details about this proposed acquisition.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> -589200000 <p id="xdx_844_eus-gaap--CashAndCashEquivalentsPolicyTextBlock_zpGIRfL0jjoe" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_865_zuv4r2OnIFke">Cash and Cash Equivalents</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cash and cash equivalents include cash on hand, money market instruments, and other highly liquid investments with original maturities of three months or less from the date of purchase.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_849_eus-gaap--CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy_zseCWdfzjcTf" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_860_zHX6CE2hUo74">Restricted Cash</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Restricted cash primarily consists of cash that the Company is obligated to maintain in accordance with contractual obligations. The Company did <span id="xdx_900_eus-gaap--RestrictedCash_iI_dxL_c20260331_zD6iRbWFojBb" title="Restricted cash::XDX::-"><span id="xdx_901_eus-gaap--RestrictedCash_iI_dxL_c20251231_zSrsmc6vqyP" title="Restricted cash::XDX::-"><span style="-sec-ix-hidden: xdx2ixbrl0520"><span style="-sec-ix-hidden: xdx2ixbrl0522">no</span></span></span></span>t have any restricted cash as of March 31, 2026, and December 31, 2025.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_845_eus-gaap--InvestmentPolicyTextBlock_z3YpbUdOCS0d" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_86C_zWPoEH3P35rl">Investments</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our investments may include, at any time, a diversified portfolio of cash equivalents and short-term and long-term investments in a variety of high-quality securities, including money market funds, U.S. treasury and U.S. government agency securities, corporate notes and bonds, commercial paper, non-U.S. government agency securities, and municipal notes. As of March 31, 2026, and December 31, 2025, the Company had <span id="xdx_90B_eus-gaap--ShortTermInvestments_iI_dxL_c20260331_zQpEUIbmEhkg" title="Short-term investments::XDX::-"><span id="xdx_907_eus-gaap--ShortTermInvestments_iI_dxL_c20251231_zi5SjDhqo1Lh" title="Short-term investments::XDX::-"><span style="-sec-ix-hidden: xdx2ixbrl0526"><span style="-sec-ix-hidden: xdx2ixbrl0528">no</span></span></span></span> short-term investments.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Amortized cost of U.S. treasury securities and marketable debt securities are based on the Company’s purchase price adjusted for accrual of discount, or amortization of premium, and recognition of impairment charges, if any. The amortized cost of securities the Company purchases at a discount or premium will equal the face or par value at maturity or the call date, if applicable. Stated interest on investments is reported as income when earned and is adjusted for amortization or accretion of any premium or discount. Accrued interest receivable on money market instruments, included in other current assets, was less than $<span id="xdx_90F_ecustom--AccruedInterestReceivableOnInvestment_iI_pn5n6_c20260331__us-gaap--StatementOfFinancialPositionLocationBalanceAxis__STXS--OtherCurrentAssetsMember__srt--RangeAxis__srt--MaximumMember_zWdpQrzfdETf" title="Accrued interest receivable on investments"><span id="xdx_905_ecustom--AccruedInterestReceivableOnInvestment_iI_pn5n6_c20251231__us-gaap--StatementOfFinancialPositionLocationBalanceAxis__STXS--OtherCurrentAssetsMember__srt--RangeAxis__srt--MaximumMember_zO43JRPjpYGi" title="Accrued interest receivable on investments">0.1</span></span> million as of March 31, 2026, and December 31, 2025.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company segments its portfolio based on the underlying risk profiles of the securities and has a zero-loss expectation for U.S. treasury and U.S. government agency securities. The Company regularly reviews the securities using the probability of default method and analyzes the unrealized loss positions and evaluates the current expected credit loss by considering factors such as credit ratings, issuer-specific factors, current economic conditions, and reasonable and supportable forecasts. <span id="xdx_905_ecustom--ExpectedCreditLossOnInvestmentsAndAccruedInterestDescription_c20260101__20260331_zlbkaABlJ2pg" title="Expected credit loss on investments or accrued interest, description">The Company did not have any material expected credit losses on investments or material expected credit losses on accrued interest related to investments during the three months ended March 31, 2026, or year ended December 31, 2025.</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> 100000 100000 The Company did not have any material expected credit losses on investments or material expected credit losses on accrued interest related to investments during the three months ended March 31, 2026, or year ended December 31, 2025. <p id="xdx_849_eus-gaap--FairValueMeasurementPolicyPolicyTextBlock_zGAR4y6ga9Eg" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_86A_z4vLSM93lHM">Fair Value Measurements</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Financial instruments consist of cash and cash equivalents, restricted cash, investments, accounts receivable, and accounts payable.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company measures certain financial assets and liabilities at fair value on a recurring basis. General accounting principles for fair value measurement establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets and liabilities (“Level 1”) and the lowest priority to unobservable inputs (“Level 3”). The three levels of the fair value hierarchy are described below:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; background-color: white; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level 1:</span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.1in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Values are based on unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities.</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level 2:</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Values are based on quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, or other model-based valuation techniques for which all significant assumptions are observable in the market.</span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level 3:</span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Values are generated from model-based techniques that use significant assumptions not observable in the market.</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of March 31, 2026, and December 31, 2025, financial assets classified as Level 2 consisted of money market funds. The Company reviews trading activity and pricing for these investments as of the measurement date. When sufficient quoted pricing for identical securities is not available, the Company uses market pricing and other observable market inputs for similar securities. These inputs either represent quoted prices for similar assets in active markets or have been derived from observable market data. This approach results in the Level 2 classification of these securities within the fair value hierarchy.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of March 31, 2026, and December 31, 2025, financial liabilities classified as Level 3 consisted of the contingent consideration due to the APT acquisition. The Company reviews the change in the fair value of contingent consideration, which is performed by a third-party valuation firm. See <i>Contingent Liabilities- Earnout Consideration </i>section below for further information regarding the valuation methods used by the third-party valuation firm. The approach results in the Level 3 classification of the contingent consideration within the fair value hierarchy.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_848_eus-gaap--TradeAndOtherAccountsReceivablePolicy_zQU2k8ZBDcmc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_865_zLemS2OcziIk">Accounts Receivable, Contract Assets, and Allowance for Credit Losses</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accounts receivable primarily include amounts due from hospitals and distributors for acquisition of robotic magnetic navigation systems, associated disposable device sales and service contracts, net of allowances for expected credit losses. Credit is granted on a limited basis, with balances due generally within 30 days of billing. Contract assets primarily represent the difference between the revenue that was earned but not billed on service contracts and revenue from system contracts that was recognized based on the relative selling price of the related performance obligations and the contractual billing terms in the arrangements. The Company reports accounts receivable and contract assets net of an allowance for expected credit losses in accordance with Accounting Standards Codification Topic 326, Financial Instruments – Credit Losses (“ASC 326”). The provision for credit loss is based upon management’s assessment of historical and expected net collections considering business and economic conditions and other collection indicators. We assess collectability by reviewing the accounts receivable aging schedule on an aggregated basis where similar characteristics exist and on an individual basis when we identify specific customers with known disputes or collectability issues. Amounts deemed uncollectible are recorded as an allowance for expected credit losses.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_841_eus-gaap--RevenueRecognitionPolicyTextBlock_z7twWCLqcHYe" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_868_zejnAsbvtQl3">Revenue and Costs of Revenue</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company accounts for revenue in accordance with Accounting Standards Codification Topic 606 (“ASC 606”), <i>Revenue from Contracts with Customers</i>.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We generate revenue from the initial capital sales of systems as well as recurring revenue from the sale of our proprietary disposable devices, from royalties paid to the Company on the sale of various devices as provided by co-development and co-placement arrangements, and from other recurring revenue including ongoing software updates and service contracts.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We account for a contract with a customer when there is a legally enforceable contract between the Company and the customer, the rights of the parties are identified, the contract has commercial substance, and collectability of the contract consideration is probable. We record our revenue based on consideration specified in the contract with each customer, net of any taxes collected from customers that are remitted to government authorities.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For contracts containing multiple products and services, the Company accounts for individual products and services as separate performance obligations if they are distinct, which is if a product or service is separately identifiable from other items in the bundled package, and if a customer can benefit from it on its own or with other resources that are readily available to the customer. The Company recognizes revenues as the performance obligations are satisfied by transferring control of the product or service to a customer.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For arrangements with multiple performance obligations, revenue is allocated to each performance obligation based on its relative standalone selling price. Standalone selling prices are based on observable prices at which the Company separately sells the products or services. If a standalone selling price is not directly observable, then the Company estimates the standalone selling price considering market conditions and entity-specific factors including, but not limited to, features and functionality of the products and services and market conditions. The Company regularly reviews standalone selling prices and updates these estimates if necessary.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our revenue recognition policy affects the following revenue streams in our business as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline">Systems:</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Contracts related to the sale of systems typically contain separate obligations for the delivery of system(s), installation, and a service-type warranty for one year following installation. Revenue is recognized when the Company transfers control to the customer, which is generally at the point when acceptance occurs that indicates customer acknowledgment of delivery or installation, depending on the terms of the arrangement. Revenue from service-type warranties is included in Other Recurring Revenue and is recognized ratably typically over the first year following installation of the system as the customer receives the service-type warranty throughout the period. The Company’s system contracts generally do not provide a right of return. Systems may be covered by a one-year assurance-type warranty in lieu of a service-type warranty. Assurance-type warranty costs were less than $<span id="xdx_90F_eus-gaap--ProductWarrantyExpense_pn5n6_c20260101__20260331__srt--ProductOrServiceAxis__custom--SystemsMember_zlZWFCkQGmW5" title="Warranty costs"><span id="xdx_908_eus-gaap--ProductWarrantyExpense_pn5n6_c20250101__20250331__srt--ProductOrServiceAxis__custom--SystemsMember_zgN9zDn6aBeb" title="Warranty costs">0.1</span></span> for the three months ended March 31, 2026, and 2025. Revenue from system delivery and installation represented <span id="xdx_90A_ecustom--ConcentrationRiskThresholdPercentage_pid_dp_c20260101__20260331__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--RevenueFromSystemDeliveryAndInstallationMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember_zhuK7TbpbRjl" title="Revenue from system delivery and installation">21</span>% and <span id="xdx_90A_ecustom--ConcentrationRiskThresholdPercentage_pid_dp_c20250101__20250331__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--RevenueFromSystemDeliveryAndInstallationMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember_z8gEQRGAatpk" title="Revenue from system delivery and installation">26</span>% of revenue for the three months ended March 31, 2026, and 2025, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline">Disposables:</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Revenue from sales of disposable products is recognized when control is transferred to the customers, which generally occurs at the time of shipment, but can also occur at the time of delivery depending on the customer arrangement. Disposable products are covered by an assurance type warranty that provides for the return of defective products. Warranty costs were not material for the three months ended March 31, 2026, and 2025. Disposable revenue represented <span id="xdx_903_ecustom--ConcentrationRiskThresholdPercentage_pid_dp_c20260101__20260331__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--DisposableRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember_zQCIFLfVA8si" title="Concentration risk percentage">37</span>% and <span id="xdx_901_ecustom--ConcentrationRiskThresholdPercentage_pid_dp_c20250101__20250331__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--DisposableRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember_zYhMylSlck25" title="Concentration risk percentage">39</span>% of revenue for the three months ended March 31, 2026, and 2025, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline">Royalty:</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company receives royalties on the sale of various devices as provided by co-development and co-placement arrangements with various manufacturers. There was <span id="xdx_90A_eus-gaap--Revenues_do_c20260101__20260331__srt--ProductOrServiceAxis__us-gaap--RoyaltyMember_zyCyMhjac01d" title="Royalty revenue"><span id="xdx_902_eus-gaap--Revenues_do_c20250101__20250331__srt--ProductOrServiceAxis__us-gaap--RoyaltyMember_zbre3jEWKwYi" title="Royalty revenue">no</span></span> royalty revenue for the three months ended March 31, 2026, and 2025, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline">Other Recurring Revenue:</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Other recurring revenue includes revenue from product maintenance plans, service-type warranties, and other post warranty maintenance. Revenue from services and software enhancements, including service-type warranties, are deferred and amortized over the service or update period, which is typically one year. Revenue related to services performed on a time-and-materials basis is recognized when performed. Other recurring revenue represented <span id="xdx_909_ecustom--ConcentrationRiskThresholdPercentage_pid_dp_c20260101__20260331__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--OtherRecurringRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember_zubbnRod89F2" title="Concentration risk percentage">42</span>% and <span id="xdx_90F_ecustom--ConcentrationRiskThresholdPercentage_pid_dp_c20250101__20250331__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--OtherRecurringRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember_zorC6ZYtYMOa" title="Concentration risk percentage">35</span>% of revenue for the three months ended March 31, 2026, and 2025, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_893_eus-gaap--DisaggregationOfRevenueTableTextBlock_zcONE8lmHzpb" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table summarizes the Company’s revenue for systems, disposables, and service and accessories for the three months ended March 31, 2026, and 2025 (in thousands):</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B6_ztduRBJFCWLj" style="display: none">Schedule of Revenue Disaggregated by Type</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="display: none; vertical-align: bottom; background-color: White"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_492_20260101__20260331_zYWqsbc3Qyuk" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2026</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_490_20250101__20250331_zKD13IRt3w74" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2025</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Three Months Ended March 31,</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td style="font-weight: bold"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="font-weight: bold; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_hsrt--ProductOrServiceAxis__custom--SystemsMember_zKJqePEZT9S" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%">Systems</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">1,319</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">1,964</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_hsrt--ProductOrServiceAxis__custom--DisposablesServiceAndAccessoriesMember_zLwGMunzFEYh" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Disposables, service and accessories</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">4,972</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">5,508</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_zBn6SvS9UMi8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Total revenue</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">6,291</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">7,472</td><td style="text-align: left"> </td></tr> </table> <p id="xdx_8AE_zHPH4f2BSUx3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Transaction price allocated to remaining performance obligations relates to amounts allocated to products and services for which the revenue has not yet been recognized. A significant portion of this amount relates to the Company’s systems contracts and obligations that will be recognized as revenue in future periods. These obligations are generally satisfied within two years after contract inception but may occasionally extend longer. Transaction price representing revenue to be earned on remaining performance obligations on system contracts was approximately $<span id="xdx_90B_eus-gaap--RevenueRemainingPerformanceObligation_iI_pn5n6_c20260331_zqYrfowjK37a" title="Remaining performance obligations">10.0</span> million as of March 31, 2026. Performance obligations arising from contracts for disposables and service are generally expected to be satisfied within one year after entering into the contract.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_893_eus-gaap--ContractWithCustomerAssetAndLiabilityTableTextBlock_zWHx1c1cllx1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table summarizes the Company’s contract assets and liabilities (in thousands):</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span id="xdx_8B2_zkf84q99AjAk" style="display: none">Summary of Contract Assets and Liabilities</span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td style="font-weight: bold"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td id="xdx_499_20260331_zymYT0wSb6B2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">March 31, 2026</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td id="xdx_495_20251231_zv9uZUedyUxb" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2025</td><td style="font-weight: bold; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--ContractWithCustomerAssetNet_iI_pn3n3_hsrt--ProductOrServiceAxis__custom--ContractAssetsUnbilledReceivablesMember_zumK6eg9vWV7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Contract Assets - unbilled receivables</td><td style="width: 2%"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 16%; text-align: right">580</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 16%; text-align: right">276</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--ContractWithCustomerAssetNet_iI_pn3n3_zPPAi24NCyag" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Total unbilled receivables</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">580</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">276</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--ContractWithCustomerLiability_iI_pn3n3_hsrt--ProductOrServiceAxis__custom--CustomerDepositsMember_zrt3MFvDy2y1" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Customer deposits</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">1,310</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">1,070</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--ContractWithCustomerLiability_iI_pn3n3_hsrt--ProductOrServiceAxis__custom--ProductShippedRevenueDeferredMember_ziUY5ON69Cyl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0pt; text-align: left">Product shipped, revenue deferred</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">781</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">993</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--ContractWithCustomerLiability_iI_pn3n3_hsrt--ProductOrServiceAxis__custom--DeferredServiceAndLicenseFeesMember_zlMFhwmGfqab" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 0pt; text-align: left">Deferred service and license fees</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">4,973</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">4,167</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--ContractWithCustomerLiability_iI_pn3n3_zSE3MsySRak" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0pt; text-align: left">Total deferred revenue</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">7,064</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">6,230</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--ContractWithCustomerLiabilityNoncurrent_iNI_pn3n3_di_zVN7nKtYO7hk" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 0pt; text-align: justify">Less: Long-term deferred revenue</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(523</td><td style="text-align: left">)</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(555</td><td style="text-align: left">)</td></tr> <tr id="xdx_400_eus-gaap--ContractWithCustomerLiabilityCurrent_iI_pn3n3_zqV1HCUX0ss4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0pt; text-align: justify">Total current deferred revenue</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">6,541</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">5,675</td><td style="text-align: left"> </td></tr> </table> <p id="xdx_8A4_zygVeebSkoyb" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company invoices its customers based on the billing schedules in its sales arrangements. Contract assets primarily represent the difference between the revenue that was earned but not billed on service contracts and revenue from system contracts that was recognized based on the standalone selling price of the related performance obligations and the contractual billing terms in the arrangements. Customer deposits primarily relate to future system sales but can also include deposits on disposable sales. Deferred revenue is primarily related to service contracts, for which the service fees are billed up-front, generally quarterly or annually, and for amounts billed in advance for system contracts for which some performance obligations remain outstanding. For service contracts, the associated deferred revenue is generally recognized ratably over the service period. For system contracts, the associated deferred revenue is recognized when the remaining performance obligations are satisfied. The Company did not have any impairment losses on its contract assets for the periods presented.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Revenue recognized for the three months ended March 31, 2026, and 2025, that was included in the deferred revenue balance at the beginning of each reporting period was $<span id="xdx_90A_eus-gaap--ContractWithCustomerLiabilityRevenueRecognized_pn5n6_c20260101__20260331_zXjQVDaKiRC2" title="Contract with customer liability revenue recognized">2.5</span> million and $<span id="xdx_90B_eus-gaap--ContractWithCustomerLiabilityRevenueRecognized_pn5n6_c20250101__20250331_zjvNN0rs4NYk" title="Contract with customer liability revenue recognized">2.2</span> million, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> 100000 100000 0.21 0.26 0.37 0.39 0 0 0.42 0.35 <p id="xdx_893_eus-gaap--DisaggregationOfRevenueTableTextBlock_zcONE8lmHzpb" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table summarizes the Company’s revenue for systems, disposables, and service and accessories for the three months ended March 31, 2026, and 2025 (in thousands):</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B6_ztduRBJFCWLj" style="display: none">Schedule of Revenue Disaggregated by Type</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="display: none; vertical-align: bottom; background-color: White"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_492_20260101__20260331_zYWqsbc3Qyuk" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2026</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_490_20250101__20250331_zKD13IRt3w74" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2025</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Three Months Ended March 31,</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td style="font-weight: bold"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="font-weight: bold; text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_hsrt--ProductOrServiceAxis__custom--SystemsMember_zKJqePEZT9S" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%">Systems</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">1,319</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">1,964</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_hsrt--ProductOrServiceAxis__custom--DisposablesServiceAndAccessoriesMember_zLwGMunzFEYh" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Disposables, service and accessories</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">4,972</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">5,508</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_zBn6SvS9UMi8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Total revenue</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">6,291</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">7,472</td><td style="text-align: left"> </td></tr> </table> 1319000 1964000 4972000 5508000 6291000 7472000 10000000.0 <p id="xdx_893_eus-gaap--ContractWithCustomerAssetAndLiabilityTableTextBlock_zWHx1c1cllx1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table summarizes the Company’s contract assets and liabilities (in thousands):</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span id="xdx_8B2_zkf84q99AjAk" style="display: none">Summary of Contract Assets and Liabilities</span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td style="font-weight: bold"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td id="xdx_499_20260331_zymYT0wSb6B2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">March 31, 2026</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td id="xdx_495_20251231_zv9uZUedyUxb" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2025</td><td style="font-weight: bold; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--ContractWithCustomerAssetNet_iI_pn3n3_hsrt--ProductOrServiceAxis__custom--ContractAssetsUnbilledReceivablesMember_zumK6eg9vWV7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Contract Assets - unbilled receivables</td><td style="width: 2%"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 16%; text-align: right">580</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 16%; text-align: right">276</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--ContractWithCustomerAssetNet_iI_pn3n3_zPPAi24NCyag" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Total unbilled receivables</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">580</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">276</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--ContractWithCustomerLiability_iI_pn3n3_hsrt--ProductOrServiceAxis__custom--CustomerDepositsMember_zrt3MFvDy2y1" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Customer deposits</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">1,310</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">1,070</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--ContractWithCustomerLiability_iI_pn3n3_hsrt--ProductOrServiceAxis__custom--ProductShippedRevenueDeferredMember_ziUY5ON69Cyl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0pt; text-align: left">Product shipped, revenue deferred</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">781</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">993</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--ContractWithCustomerLiability_iI_pn3n3_hsrt--ProductOrServiceAxis__custom--DeferredServiceAndLicenseFeesMember_zlMFhwmGfqab" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 0pt; text-align: left">Deferred service and license fees</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">4,973</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">4,167</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--ContractWithCustomerLiability_iI_pn3n3_zSE3MsySRak" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0pt; text-align: left">Total deferred revenue</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">7,064</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">6,230</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--ContractWithCustomerLiabilityNoncurrent_iNI_pn3n3_di_zVN7nKtYO7hk" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 0pt; text-align: justify">Less: Long-term deferred revenue</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(523</td><td style="text-align: left">)</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(555</td><td style="text-align: left">)</td></tr> <tr id="xdx_400_eus-gaap--ContractWithCustomerLiabilityCurrent_iI_pn3n3_zqV1HCUX0ss4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0pt; text-align: justify">Total current deferred revenue</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">6,541</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">5,675</td><td style="text-align: left"> </td></tr> </table> 580000 276000 580000 276000 1310000 1070000 781000 993000 4973000 4167000 7064000 6230000 523000 555000 6541000 5675000 2500000 2200000 <p id="xdx_84D_eus-gaap--RevenueFromContractWithCustomerPolicyTextBlock_zu8D9gcM1mw" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_867_zNq6AlA2l6Z1">Assets Recognized from the Costs to Obtain a Contract with a Customer</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company has determined that sales incentive programs for the Company’s sales team meet the requirements to be capitalized as the Company expects to generate future economic benefits from the related revenue generating contracts after the initial capital sales transaction. The costs capitalized as contract acquisition costs included in prepaid expenses and other assets, in the Company’s consolidated balance sheet were approximately $<span id="xdx_906_eus-gaap--CapitalizedContractCostNet_iI_pn5n6_c20260331_zz2RWhkiZWVd" title="Capitalized contract cost">0.2</span> million and $<span id="xdx_90A_eus-gaap--CapitalizedContractCostNet_iI_pn5n6_c20251231_zA53Jyhw8HKf" title="Capitalized contract cost">0.1</span> million as of March 31, 2026, and December 31, 2025, respectively. The Company did not incur any impairment losses during any of the periods presented.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Cost of Contracts</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Costs of systems revenue include direct product costs, installation labor and other costs including estimated assurance-type warranty costs, and initial training costs, when applicable. These costs are recognized at the time of sale. Costs of disposable revenue include direct product costs and estimated warranty costs and are recognized at the time of sale. Cost of revenue from services and license fees are recognized when incurred.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> 200000 100000 <p id="xdx_84D_eus-gaap--GoodwillAndIntangibleAssetsPolicyTextBlock_zsFbnyWM3eZb" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_86F_zUt6VxyNHtLl">Goodwill and Intangible Assets</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Goodwill represents the excess of the purchase price over the fair value of the net assets acquired in business combinations and is allocated to the appropriate reporting unit when acquired. Other acquired intangible assets are stated at the fair value acquired. Goodwill is not amortized; rather, it is evaluated for impairment annually and whenever events or changes in circumstances indicate that the value of the asset may be impaired. Definite-lived intangible assets are considered long-lived assets and are amortized on a straight-line basis over the periods that expected economic benefits will be provided.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_84A_eus-gaap--CommitmentsAndContingenciesPolicyTextBlock_z5pmpvLIk9J4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_860_z17yDKtXiwvf">Contingent Liabilities- Earnout Consideration</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company has determined that the contingent consideration due under the terms of its July 31, 2024, acquisition agreement with APT Holding Company, Inc. represents a contingent liability in accordance with the provisions of ASC 805, Business Combinations. The Company has established short-term and long-term contingent liabilities for the net present fair value of contingent payments which are both probable of occurrence and reasonably estimable. The initial fair value of the contingent consideration was determined by a third-party valuation firm using both a Monte Carlo simulation and probability-based approaches. The contingent consideration is remeasured to fair value at each reporting date until the contingency is resolved. Changes in fair value are recognized in the Company’s earnings as a charge to General and Administrative expenses. See Note 10 under the subheading “<i>Access Point Technologies Share Purchase Agreement” </i>for further discussion of the contingent consideration recorded as of March 31, 2026.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_84E_eus-gaap--LesseeLeasesPolicyTextBlock_zzIJLeAg2Kei" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_865_zLS7afsaOEok">Leasing Arrangements</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A lease is defined as a contract, or part of a contract, that conveys the right to control the use of identified property, plant or equipment for a period of time in exchange for consideration. The Company accounts for leases in accordance with Accounting Standards Update No. 2016-02 “Leases” (Topic 842) and all subsequent ASUs that modified Topic 842 (“ASC 842”). The Company determines if an arrangement contains a lease at inception.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company leases its facilities under operating leases. In accordance with ASC 842, operating lease agreements are recognized on the consolidated balance sheet as a right-of-use (“ROU”) asset and a corresponding lease liability. These leases generally do not have significant rent escalation holidays, concessions, leasehold improvement incentives, or other build-out clauses. Further, the leases do not contain contingent rent provisions. Many of our leases include both lease (i.e., fixed payments including rent, taxes, and insurance costs) and non-lease components (i.e., common-area or other maintenance costs) which are accounted for as a single lease component as we have elected the practical expedient to group lease and non-lease components for all leases.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company’s lease agreements often include one or more options to renew at the Company’s discretion. If at lease inception, the Company considers the exercising of a renewal option to be reasonably certain, the Company will include the extended term in the calculation of the ROU asset and lease liability. The Company elected not to include short-term leases (i.e., leases with initial terms of twelve months or less) on the consolidated balance sheet.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The calculated amounts of the ROU assets and lease liabilities are impacted by the length of the lease term and the discount rate used to calculate the present value of the minimum lease payments. ASC 842 requires the use of the discount rate implicit in the lease whenever this rate is readily determinable. As this rate is rarely determinable, the Company utilizes its incremental borrowing rate at lease inception.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_84D_eus-gaap--ShareBasedCompensationOptionAndIncentivePlansPolicy_zEp1l5HY2JAd" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_865_zcsOUnAZzqne">Stock-Based Compensation</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company accounts for its grants of stock options, non-qualified stock options, stock appreciation rights, restricted shares, restricted stock units and for its employee stock purchase plan in accordance with the provisions of general accounting principles for share-based payments. These accounting principles require the determination of the fair value of the stock-based compensation at the grant date and the recognition of the related expense over the period in which the stock-based compensation vests.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For time-based awards, the Company utilizes the Black-Scholes valuation model to determine the fair value of stock options and stock appreciation rights at the date of grant. The weighted average assumptions and fair value for options granted during the three months ended March 31, 2026, were 1) expected dividend rate of <span id="xdx_90A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate_pid_dp_uPure_c20260101__20260331_z1zSGihc5DRk" title="Expected dividend rate">0</span>%; 2) expected volatility of <span id="xdx_902_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_pid_dp_c20260101__20260331_zGmURr1guRk" title="Expected volatility">75</span>% based on the Company’s historical volatility; 3) risk-free interest rate based on the Treasury yield on the date of grant; and 4) expected term of <span id="xdx_905_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_dtY_c20260101__20260331_zVVPVSYByGAf" title="Expected term">6.25</span> years. The resulting compensation expense is recognized over the requisite service period, which is generally four years, net of actual forfeitures. Restricted shares and units granted to employees and non-employee directors are valued at the fair market value at the date of grant. The Company amortizes the fair market value to expense over the service period, which is generally four years except for grants to directors which are generally earned over a period of six months. If the shares are subject to performance objectives, the resulting compensation expense is amortized over the anticipated vesting period and is subject to adjustment based on the actual achievement of objectives.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For market-based awards, stock-based compensation expense is recognized over the minimum service period regardless of whether the market target is probable of being achieved. The fair value of such awards is estimated on the grant date using Monte Carlo simulations.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Shares purchased by employees under the 2022 Employee Stock Purchase Plans are considered to be non-compensatory.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> 0 0.75 P6Y3M <p id="xdx_846_eus-gaap--EarningsPerSharePolicyTextBlock_zzQHNjfib0fc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_864_zET6Nwnoajl6">Net Loss per Common Share</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Basic earnings (loss) per common share is computed by dividing the net earnings (loss) for the period by the weighted average number of common shares outstanding during the period. In periods where there is net income, we apply the two-class method to calculate basic and diluted net income (loss) per share of common stock, as our convertible preferred stock is a participating security. The two-class method is an earnings allocation formula that treats a participating security as having rights to earnings that otherwise would have been available to common stockholders. In periods where there is a net loss, the two-class method of computing earnings per share does not apply as our convertible preferred stock does not contractually participate in our losses. We compute diluted net income (loss) per common share using net income (loss) as the “control number” in determining whether potential common shares are dilutive, after giving consideration to all potentially dilutive common shares, including stock options, warrants, unvested restricted stock units outstanding during the period and potential issuance of stock upon the conversion of our convertible preferred stock issued and outstanding during the period, except where the effect of such securities would be antidilutive.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89C_eus-gaap--ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock_z0K5UhenJrT6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table sets forth the computation of basic and diluted EPS (in thousands except for share and per share amounts):</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8BE_zwjCjPPdgd66" style="display: none">Schedule of Computation of Basic and Diluted Earnings Per Share</span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="display: none; vertical-align: bottom; background-color: White"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_493_20260101__20260331_zVVLebSo3qv4" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2026</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_496_20250101__20250331_zlS24us9ADOf" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2025</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Three Months Ended March 31,</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td style="font-weight: bold"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="font-weight: bold; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--NetIncomeLoss_pn3n3_z5UV7k4BKJr2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Net loss</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">(5,861</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">(5,823</td><td style="width: 1%; text-align: left">)</td></tr> <tr id="xdx_400_eus-gaap--PreferredStockDividendsIncomeStatementImpact_iN_pn3n3_di_z8GdykGnEUa4" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Cumulative dividend on convertible preferred stock</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(311</td><td style="text-align: left">)</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(314</td><td style="text-align: left">)</td></tr> <tr id="xdx_404_eus-gaap--NetIncomeLossAvailableToCommonStockholdersBasic_pn3n3_z2DUyKSOUo2d" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Net loss attributable to common stockholders</td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(6,172</td><td style="text-align: left">)</td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(6,137</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Weighted average number of common shares and equivalents:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_905_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_pid_c20260101__20260331_zGqFKJKvHBZh" title="Weighted average number of common shares and equivalents, basic"><span id="xdx_90D_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_pid_c20260101__20260331_zQSGrosxVfw1" title="Weighted average number of common shares and equivalents, diluted">98,891,179</span></span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_907_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_pid_c20250101__20250331_zOeDRbZVSfHb" title="Weighted average number of common shares and equivalents, basic"><span id="xdx_903_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_pid_c20250101__20250331_zzNHVlY24whc" title="Weighted average number of common shares and equivalents, diluted">87,769,366</span></span></td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--EarningsPerShareBasic_pid_z0209J3mJdAb" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Basic EPS</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(0.06</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(0.07</td><td style="text-align: left">)</td></tr> <tr id="xdx_406_eus-gaap--EarningsPerShareDiluted_pid_zbbuAseR7e22" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Diluted EPS</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(0.06</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(0.07</td><td style="text-align: left">)</td></tr> </table> <p id="xdx_8A2_zgnxwT8ZkmGc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company did not include any portion of unearned restricted shares, outstanding options, stock appreciation rights, warrants or convertible preferred stock in the calculation of diluted loss per common share because all such securities are anti-dilutive for all periods presented. The application of the two-class method of computing earnings per share under general accounting principles for participating securities is not applicable during these periods because those securities do not contractually participate in its losses.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of March 31, 2026, the Company had <span id="xdx_90C_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_c20260101__20260331__us-gaap--AwardTypeAxis__custom--StockOptionsandStockAppreciationRightsMember_zZwljZDPMkgc" title="Exercise of outstanding">4,102,414</span> shares of common stock issuable upon the exercise of outstanding options and stock appreciation rights at a weighted average exercise price of $<span id="xdx_909_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iI_pid_c20260331__us-gaap--AwardTypeAxis__custom--StockOptionsandStockAppreciationRightsMember_zMCjF2DMuW2g" title="Weighted average exercise price">3.48</span> per share, <span id="xdx_90A_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_c20260101__20260331__us-gaap--StatementEquityComponentsAxis__custom--SeriesAConvertiblePreferredStockMember_z7LyIzx4iSY1" title="Exercise of outstanding">50,755,686</span> shares of our common stock issuable upon conversion of our Series A Convertible Preferred Stock, and <span id="xdx_907_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_c20260101__20260331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember_zfaESaplNERf">2,587,321</span> shares of unvested restricted share units. awarded under the 2022 Stock Purchase Plan, and <span id="xdx_90D_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_c20260101__20260331__us-gaap--AwardTypeAxis__custom--TwoThousandTwentyOneCEOPerformanceAwardUnitGrantMember_zAQhUHJEpGll" title="Antidilutive securities excluded amount">13,000,000</span> unvested share units relating to the 2021 CEO Performance Award Unit Grant. The Company had <span id="xdx_90D_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_do_c20260101__20260331__us-gaap--AwardTypeAxis__custom--UnearnedRestrictedSharesMember_zLheDBTjkn45" title="Antidilutive securities">no</span> unearned restricted shares outstanding as of March 31, 2026.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89C_eus-gaap--ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock_z0K5UhenJrT6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table sets forth the computation of basic and diluted EPS (in thousands except for share and per share amounts):</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8BE_zwjCjPPdgd66" style="display: none">Schedule of Computation of Basic and Diluted Earnings Per Share</span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="display: none; vertical-align: bottom; background-color: White"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_493_20260101__20260331_zVVLebSo3qv4" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2026</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_496_20250101__20250331_zlS24us9ADOf" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2025</span></td><td style="font-weight: bold; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Three Months Ended March 31,</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td style="font-weight: bold"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="font-weight: bold; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--NetIncomeLoss_pn3n3_z5UV7k4BKJr2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Net loss</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">(5,861</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">(5,823</td><td style="width: 1%; text-align: left">)</td></tr> <tr id="xdx_400_eus-gaap--PreferredStockDividendsIncomeStatementImpact_iN_pn3n3_di_z8GdykGnEUa4" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Cumulative dividend on convertible preferred stock</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(311</td><td style="text-align: left">)</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(314</td><td style="text-align: left">)</td></tr> <tr id="xdx_404_eus-gaap--NetIncomeLossAvailableToCommonStockholdersBasic_pn3n3_z2DUyKSOUo2d" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Net loss attributable to common stockholders</td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(6,172</td><td style="text-align: left">)</td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(6,137</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Weighted average number of common shares and equivalents:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_905_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_pid_c20260101__20260331_zGqFKJKvHBZh" title="Weighted average number of common shares and equivalents, basic"><span id="xdx_90D_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_pid_c20260101__20260331_zQSGrosxVfw1" title="Weighted average number of common shares and equivalents, diluted">98,891,179</span></span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_907_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_pid_c20250101__20250331_zOeDRbZVSfHb" title="Weighted average number of common shares and equivalents, basic"><span id="xdx_903_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_pid_c20250101__20250331_zzNHVlY24whc" title="Weighted average number of common shares and equivalents, diluted">87,769,366</span></span></td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--EarningsPerShareBasic_pid_z0209J3mJdAb" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Basic EPS</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(0.06</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(0.07</td><td style="text-align: left">)</td></tr> <tr id="xdx_406_eus-gaap--EarningsPerShareDiluted_pid_zbbuAseR7e22" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Diluted EPS</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(0.06</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">(0.07</td><td style="text-align: left">)</td></tr> </table> -5861000 -5823000 311000 314000 -6172000 -6137000 98891179 98891179 87769366 87769366 -0.06 -0.07 -0.06 -0.07 4102414 3.48 50755686 2587321 13000000 0 <p id="xdx_841_eus-gaap--NewAccountingPronouncementsPolicyPolicyTextBlock_zuwlnDQsuQQ4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_864_zKyyRKmiXTil">Recently Issued Accounting Pronouncements</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In November 2024, the FASB issued ASU 2024-03, <i>Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses </i>(“ASU 2024-03”), which requires disclosure about the types of costs and expenses included in certain expense captions presented on the income statement. The new disclosure requirements are effective for the Company’s annual periods beginning after December 15, 2026, and interim periods beginning after December 15, 2027, with early adoption permitted. The Company is currently in the process of evaluating the impact of this pronouncement on its related disclosures.</span></p> <p id="xdx_805_eus-gaap--FinancialInstrumentsDisclosureTextBlock_zvXMlapyetWi" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>3. <span id="xdx_829_zHIvpJLb7wE8">Financial Instruments</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_898_eus-gaap--ScheduleOfCashCashEquivalentsAndShortTermInvestmentsTableTextBlock_zrKLSj4sGEo1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table summarizes the Company’s cash and cash equivalents, amortized cost, gross unrealized gains, gross unrealized losses, and fair value by significant category reported as cash and cash equivalents and restricted cash as of March 31, 2026, and December 31, 2025:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8BE_zfmb9FUaNxQ5" style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt">Schedule of Cash and Cash Equivalents, Restricted Cash and Investments</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="6" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">March 31, 2026</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="6" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Reported as:</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: italic 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(in thousands)</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cash and Cash <br/>Equivalents</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Restricted Cash- <br/>current</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: bold 10pt Times New Roman, Times, Serif; width: 60%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cash</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td id="xdx_986_eus-gaap--CashAndCashEquivalentsAtCarryingValue_iI_pn3n3_c20260331__us-gaap--FinancialInstrumentAxis__us-gaap--CashMember_zcUUc9t0W3z8" style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right" title="Cash and Cash Equivalents"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,005</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td id="xdx_982_eus-gaap--RestrictedCashCurrent_iI_pn3n3_c20260331__us-gaap--FinancialInstrumentAxis__us-gaap--CashMember_zZnRZJIbsb45" style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right" title="Restricted Cash, Current"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl0671">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level 2</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-left: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Money market funds</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_98A_eus-gaap--CashAndCashEquivalentsAtCarryingValue_iI_pn3n3_c20260331__us-gaap--FinancialInstrumentAxis__us-gaap--MoneyMarketFundsMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_z6sCxza1WAL6" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Cash and Cash Equivalents"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">13,611</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_986_eus-gaap--RestrictedCashCurrent_iI_pn3n3_c20260331__us-gaap--FinancialInstrumentAxis__us-gaap--MoneyMarketFundsMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zNdSOI5VvHAb" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Restricted Cash, Current"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span style="-sec-ix-hidden: xdx2ixbrl0675">-</span> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; padding-left: 20pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Subtotal</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_985_eus-gaap--CashAndCashEquivalentsAtCarryingValue_iI_pn3n3_c20260331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zpptq9FSZEok" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Cash and Cash Equivalents"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">13,611</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_98C_eus-gaap--RestrictedCashCurrent_iI_pn3n3_c20260331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zIUjxZic9adf" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Restricted Cash, Current"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl0679">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-left: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total assets measured at fair value</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td id="xdx_987_eus-gaap--CashAndCashEquivalentsAtCarryingValue_iI_pn3n3_c20260331_zjNF5K3E8G0i" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Cash and Cash Equivalents"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">14,616</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td id="xdx_983_eus-gaap--RestrictedCashCurrent_iI_pn3n3_c20260331_zt5s0hVLdEI2" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Restricted Cash- current"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl0683">-</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2025</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Reported as:</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-style: italic">(in thousands)</td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Cash and Cash <br/>Equivalents</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Restricted Cash- <br/>current</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; font-weight: bold">Cash</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_988_eus-gaap--CashAndCashEquivalentsAtCarryingValue_iI_pn3n3_c20251231__us-gaap--FinancialInstrumentAxis__us-gaap--CashMember_zbK6XuH7wFqc" style="width: 16%; text-align: right" title="Cash and Cash Equivalents">1,325</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_986_eus-gaap--RestrictedCashCurrent_iI_pn3n3_c20251231__us-gaap--FinancialInstrumentAxis__us-gaap--CashMember_z6yhJW2uoCtc" style="width: 16%; text-align: right" title="Restricted Cash, Current"><span style="-sec-ix-hidden: xdx2ixbrl0687">-</span></td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold">Level 2</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Money market funds</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--CashAndCashEquivalentsAtCarryingValue_iI_pn3n3_c20251231__us-gaap--FinancialInstrumentAxis__us-gaap--MoneyMarketFundsMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_z3TBEUgkaG6k" style="text-align: right" title="Cash and Cash Equivalents">12,096</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--RestrictedCashCurrent_iI_pn3n3_c20251231__us-gaap--FinancialInstrumentAxis__us-gaap--MoneyMarketFundsMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zOnhyQw2Opd9" style="text-align: right" title="Restricted Cash, Current"><span style="-sec-ix-hidden: xdx2ixbrl0691">-</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 20pt">Subtotal</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98C_eus-gaap--CashAndCashEquivalentsAtCarryingValue_iI_pn3n3_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zWYmISgWXFFa" style="border-bottom: Black 1pt solid; text-align: right" title="Cash and Cash Equivalents">12,096</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_988_eus-gaap--RestrictedCashCurrent_iI_pn3n3_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_z8dHdZZI8fs8" style="border-bottom: Black 1pt solid; text-align: right" title="Restricted Cash, Current"><span style="-sec-ix-hidden: xdx2ixbrl0695">-</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Total assets measured at fair value</td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98E_eus-gaap--CashAndCashEquivalentsAtCarryingValue_iI_pn3n3_c20251231_z3SliNUSsC05" style="border-bottom: Black 2.5pt double; text-align: right" title="Cash and Cash Equivalents">13,421</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98C_eus-gaap--RestrictedCashCurrent_iI_pn3n3_c20251231_znQl0ythUOId" style="border-bottom: Black 2.5pt double; text-align: right" title="Restricted Cash- current"><span style="-sec-ix-hidden: xdx2ixbrl0699">-</span></td><td style="text-align: left"> </td></tr> </table> <p id="xdx_8AB_zFcvbEQs0Okb" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Interest income recorded for these cash and investments was consistent at approximately $<span id="xdx_90E_eus-gaap--InterestIncomeExpenseNet_pn5n6_c20260101__20260331_z0bLRVcaBGGa" title="Interest income">0.1</span> million and $<span id="xdx_907_eus-gaap--InterestIncomeExpenseNet_pn5n6_c20250101__20251231_z7duEFCFNPA1" title="Interest income">0.5</span> million during the three months ended March 31, 2026, and the year ended December 31, 2025, respectively.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of March 31, 2026, and December 31, 2025, the Company did not have any financial assets classified as Level 1 or Level 3. The contingent consideration is carried at fair value and is a Level 3 financial liability. See further discussion of the contingent consideration in Note 10 under the subheading “<i>Access Point Technologies Share Purchase Agreement”</i>.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_898_eus-gaap--ScheduleOfCashCashEquivalentsAndShortTermInvestmentsTableTextBlock_zrKLSj4sGEo1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table summarizes the Company’s cash and cash equivalents, amortized cost, gross unrealized gains, gross unrealized losses, and fair value by significant category reported as cash and cash equivalents and restricted cash as of March 31, 2026, and December 31, 2025:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8BE_zfmb9FUaNxQ5" style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt">Schedule of Cash and Cash Equivalents, Restricted Cash and Investments</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="6" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">March 31, 2026</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="6" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Reported as:</span></td><td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: italic 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(in thousands)</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cash and Cash <br/>Equivalents</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Restricted Cash- <br/>current</span></td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: bold 10pt Times New Roman, Times, Serif; width: 60%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cash</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td id="xdx_986_eus-gaap--CashAndCashEquivalentsAtCarryingValue_iI_pn3n3_c20260331__us-gaap--FinancialInstrumentAxis__us-gaap--CashMember_zcUUc9t0W3z8" style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right" title="Cash and Cash Equivalents"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,005</span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td id="xdx_982_eus-gaap--RestrictedCashCurrent_iI_pn3n3_c20260331__us-gaap--FinancialInstrumentAxis__us-gaap--CashMember_zZnRZJIbsb45" style="font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: right" title="Restricted Cash, Current"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl0671">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level 2</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-left: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Money market funds</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_98A_eus-gaap--CashAndCashEquivalentsAtCarryingValue_iI_pn3n3_c20260331__us-gaap--FinancialInstrumentAxis__us-gaap--MoneyMarketFundsMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_z6sCxza1WAL6" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Cash and Cash Equivalents"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">13,611</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_986_eus-gaap--RestrictedCashCurrent_iI_pn3n3_c20260331__us-gaap--FinancialInstrumentAxis__us-gaap--MoneyMarketFundsMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zNdSOI5VvHAb" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Restricted Cash, Current"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span style="-sec-ix-hidden: xdx2ixbrl0675">-</span> </span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; padding-left: 20pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Subtotal</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_985_eus-gaap--CashAndCashEquivalentsAtCarryingValue_iI_pn3n3_c20260331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zpptq9FSZEok" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Cash and Cash Equivalents"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">13,611</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td id="xdx_98C_eus-gaap--RestrictedCashCurrent_iI_pn3n3_c20260331__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zIUjxZic9adf" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Restricted Cash, Current"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl0679">-</span></span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-left: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total assets measured at fair value</span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td id="xdx_987_eus-gaap--CashAndCashEquivalentsAtCarryingValue_iI_pn3n3_c20260331_zjNF5K3E8G0i" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Cash and Cash Equivalents"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">14,616</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td id="xdx_983_eus-gaap--RestrictedCashCurrent_iI_pn3n3_c20260331_zt5s0hVLdEI2" style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Restricted Cash- current"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl0683">-</span></span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2025</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Reported as:</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-style: italic">(in thousands)</td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Cash and Cash <br/>Equivalents</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Restricted Cash- <br/>current</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; font-weight: bold">Cash</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_988_eus-gaap--CashAndCashEquivalentsAtCarryingValue_iI_pn3n3_c20251231__us-gaap--FinancialInstrumentAxis__us-gaap--CashMember_zbK6XuH7wFqc" style="width: 16%; text-align: right" title="Cash and Cash Equivalents">1,325</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_986_eus-gaap--RestrictedCashCurrent_iI_pn3n3_c20251231__us-gaap--FinancialInstrumentAxis__us-gaap--CashMember_z6yhJW2uoCtc" style="width: 16%; text-align: right" title="Restricted Cash, Current"><span style="-sec-ix-hidden: xdx2ixbrl0687">-</span></td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold">Level 2</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Money market funds</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--CashAndCashEquivalentsAtCarryingValue_iI_pn3n3_c20251231__us-gaap--FinancialInstrumentAxis__us-gaap--MoneyMarketFundsMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_z3TBEUgkaG6k" style="text-align: right" title="Cash and Cash Equivalents">12,096</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--RestrictedCashCurrent_iI_pn3n3_c20251231__us-gaap--FinancialInstrumentAxis__us-gaap--MoneyMarketFundsMember__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zOnhyQw2Opd9" style="text-align: right" title="Restricted Cash, Current"><span style="-sec-ix-hidden: xdx2ixbrl0691">-</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 20pt">Subtotal</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98C_eus-gaap--CashAndCashEquivalentsAtCarryingValue_iI_pn3n3_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_zWYmISgWXFFa" style="border-bottom: Black 1pt solid; text-align: right" title="Cash and Cash Equivalents">12,096</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_988_eus-gaap--RestrictedCashCurrent_iI_pn3n3_c20251231__us-gaap--FairValueByFairValueHierarchyLevelAxis__us-gaap--FairValueInputsLevel2Member_z8dHdZZI8fs8" style="border-bottom: Black 1pt solid; text-align: right" title="Restricted Cash, Current"><span style="-sec-ix-hidden: xdx2ixbrl0695">-</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Total assets measured at fair value</td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98E_eus-gaap--CashAndCashEquivalentsAtCarryingValue_iI_pn3n3_c20251231_z3SliNUSsC05" style="border-bottom: Black 2.5pt double; text-align: right" title="Cash and Cash Equivalents">13,421</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98C_eus-gaap--RestrictedCashCurrent_iI_pn3n3_c20251231_znQl0ythUOId" style="border-bottom: Black 2.5pt double; text-align: right" title="Restricted Cash- current"><span style="-sec-ix-hidden: xdx2ixbrl0699">-</span></td><td style="text-align: left"> </td></tr> </table> 1005000 13611000 13611000 14616000 1325000 12096000 12096000 13421000 100000 500000 <p id="xdx_808_eus-gaap--InventoryDisclosureTextBlock_zWmxhH6YAlvb" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>4. <span id="xdx_82E_zU48oOvDxj26">Inventories</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_891_eus-gaap--ScheduleOfInventoryCurrentTableTextBlock_zzHSMRIc0Gua" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Inventories consist of the following (in thousands):</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"></p><p style="font: 10pt Times New Roman, Times, Serif; display: none; margin: 0pt; text-align: justify; text-indent: 24.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B9_zP4BPGUl6eU1" style="display: none">Schedule of Inventories</span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_494_20260331_zDRlDQLYqt74" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">March 31, 2026</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_49F_20251231_zVS318lFtqb1" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2025</td><td style="font-weight: bold"> </td></tr> <tr id="xdx_407_eus-gaap--InventoryRawMaterials_iI_pn3n3_maCzIqb_ztr8CLNTqrI1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Raw materials</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">6,804</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">6,515</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--InventoryWorkInProcess_iI_pn3n3_maCzIqb_zcK1FDbn5j69" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Work in process</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,907</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,230</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--InventoryFinishedGoods_iI_pn3n3_maCzIqb_zKwI221m6U0a" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Finished goods</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,462</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,413</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--InventoryValuationReserves_iNI_pn3n3_di_msCzIqb_zWcz9T4Pjxlg" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Reserve for excess and obsolescence</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(2,678</td><td style="text-align: left">)</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(2,591</td><td style="text-align: left">)</td></tr> <tr id="xdx_403_eus-gaap--InventoryNet_iTI_pn3n3_mtCzIqb_ztkRBthfykYc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Total inventory</td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">10,495</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">9,567</td><td style="text-align: left"> </td></tr> </table> <p id="xdx_8A7_zLVtHuGRVA6f" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company had approximately $<span id="xdx_905_eus-gaap--InventoryValuationReserves_iI_pn5n6_c20260331_zYj8jXZqp3y" title="Reserve for excess and obsolescence">2.7</span> million in reserve for excess and obsolescence. The reserve includes the fair value of slow-moving acquired inventory and the value of <i>Niobe </i>Systems and related raw materials and spare parts.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_891_eus-gaap--ScheduleOfInventoryCurrentTableTextBlock_zzHSMRIc0Gua" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Inventories consist of the following (in thousands):</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"></p><p style="font: 10pt Times New Roman, Times, Serif; display: none; margin: 0pt; text-align: justify; text-indent: 24.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B9_zP4BPGUl6eU1" style="display: none">Schedule of Inventories</span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_494_20260331_zDRlDQLYqt74" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">March 31, 2026</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_49F_20251231_zVS318lFtqb1" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2025</td><td style="font-weight: bold"> </td></tr> <tr id="xdx_407_eus-gaap--InventoryRawMaterials_iI_pn3n3_maCzIqb_ztr8CLNTqrI1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Raw materials</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">6,804</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">6,515</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--InventoryWorkInProcess_iI_pn3n3_maCzIqb_zcK1FDbn5j69" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Work in process</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,907</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,230</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--InventoryFinishedGoods_iI_pn3n3_maCzIqb_zKwI221m6U0a" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Finished goods</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,462</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,413</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--InventoryValuationReserves_iNI_pn3n3_di_msCzIqb_zWcz9T4Pjxlg" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Reserve for excess and obsolescence</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(2,678</td><td style="text-align: left">)</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(2,591</td><td style="text-align: left">)</td></tr> <tr id="xdx_403_eus-gaap--InventoryNet_iTI_pn3n3_mtCzIqb_ztkRBthfykYc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Total inventory</td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">10,495</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">9,567</td><td style="text-align: left"> </td></tr> </table> 6804000 6515000 1907000 2230000 4462000 3413000 2678000 2591000 10495000 9567000 2700000 <p id="xdx_806_eus-gaap--OtherAssetsDisclosureTextBlock_z74ZoPjFXoW2" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>5. <span id="xdx_829_zuHkiBgMW8o3">Prepaid Expenses and Other Assets</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89D_eus-gaap--DeferredCostsCapitalizedPrepaidAndOtherAssetsDisclosureTextBlock_zwqr0qY5jU0h" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Prepaid expenses and other assets consist of the following (in thousands):</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B7_zCO0gk5yUcRc" style="display: none">Schedule of Prepaid Expenses and Other Assets</span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_49A_20260331_zZ4BCHVJS2r1" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">March 31, 2026</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_490_20251231_zCvv8OkUUcz1" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2025</td><td style="font-weight: bold"> </td></tr> <tr id="xdx_403_eus-gaap--PrepaidExpenseCurrentAndNoncurrent_iI_pn3n3_maCz33m_zp56XOSqESUl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Prepaid expenses</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">656</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">435</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40D_ecustom--PrepaidCommissionsCurrentAndNoncurrent_iI_pn3n3_maCz33m_zJ6inLZKMWhi" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Prepaid commissions</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">192</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">110</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--DepositsAssets_iI_pn3n3_maCz33m_zoe9B2aMyDxb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Deposits</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">608</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">257</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--AccountsReceivableNetNoncurrent_iI_pn3n3_maCz33m_z0a62IMwpF74" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Long-term accounts receivable</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">128</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">135</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--OtherAssets_iI_pn3n3_maCz33m_zR972hrOl6Oh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Other assets</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">43</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">39</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--PrepaidExpenseAndOtherAssets_iTI_pn3n3_mtCz33m_zAC2gKXEhRpe" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Total prepaid expenses and other assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,627</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">976</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--PrepaidExpenseAndOtherAssetsNoncurrent_iNI_pn3n3_di_zpDW0eydMuq5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Less: Noncurrent prepaid expenses and other assets</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(330</td><td style="text-align: left">)</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(278</td><td style="text-align: left">)</td></tr> <tr id="xdx_40F_eus-gaap--PrepaidExpenseAndOtherAssetsCurrent_iI_pn3n3_zisokFliZ4Ld" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Total current prepaid expenses and other assets</td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,297</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">698</td><td style="text-align: left"> </td></tr> </table> <p id="xdx_8AA_zaqoTQpBzbG" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89D_eus-gaap--DeferredCostsCapitalizedPrepaidAndOtherAssetsDisclosureTextBlock_zwqr0qY5jU0h" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Prepaid expenses and other assets consist of the following (in thousands):</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span><span id="xdx_8B7_zCO0gk5yUcRc" style="display: none">Schedule of Prepaid Expenses and Other Assets</span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_49A_20260331_zZ4BCHVJS2r1" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">March 31, 2026</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_490_20251231_zCvv8OkUUcz1" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2025</td><td style="font-weight: bold"> </td></tr> <tr id="xdx_403_eus-gaap--PrepaidExpenseCurrentAndNoncurrent_iI_pn3n3_maCz33m_zp56XOSqESUl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Prepaid expenses</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">656</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">435</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40D_ecustom--PrepaidCommissionsCurrentAndNoncurrent_iI_pn3n3_maCz33m_zJ6inLZKMWhi" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Prepaid commissions</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">192</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">110</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--DepositsAssets_iI_pn3n3_maCz33m_zoe9B2aMyDxb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Deposits</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">608</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">257</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--AccountsReceivableNetNoncurrent_iI_pn3n3_maCz33m_z0a62IMwpF74" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Long-term accounts receivable</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">128</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">135</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--OtherAssets_iI_pn3n3_maCz33m_zR972hrOl6Oh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Other assets</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">43</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">39</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--PrepaidExpenseAndOtherAssets_iTI_pn3n3_mtCz33m_zAC2gKXEhRpe" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Total prepaid expenses and other assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,627</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">976</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--PrepaidExpenseAndOtherAssetsNoncurrent_iNI_pn3n3_di_zpDW0eydMuq5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Less: Noncurrent prepaid expenses and other assets</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(330</td><td style="text-align: left">)</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(278</td><td style="text-align: left">)</td></tr> <tr id="xdx_40F_eus-gaap--PrepaidExpenseAndOtherAssetsCurrent_iI_pn3n3_zisokFliZ4Ld" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Total current prepaid expenses and other assets</td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,297</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">698</td><td style="text-align: left"> </td></tr> </table> 656000 435000 192000 110000 608000 257000 128000 135000 43000 39000 1627000 976000 330000 278000 1297000 698000 <p id="xdx_809_eus-gaap--PropertyPlantAndEquipmentDisclosureTextBlock_zHGWxiArOWDl" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>6. <span id="xdx_820_zbUNw1pGzrxb">Property and Equipment</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89B_eus-gaap--PropertyPlantAndEquipmentTextBlock_z2KqGDzoiCXc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Property and Equipment consist of the following (in thousands):</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B5_zN6wuz5kewm" style="display: none">Schedule of Property and Equipment</span></span></span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_496_20260331_zbImeEjpmHC2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">March 31, 2026</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_495_20251231_zWCKDpfNCqUe" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2025</td><td style="font-weight: bold"> </td></tr> <tr id="xdx_40D_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--EquipmentMember_zZKh4IMDROYh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%">Equipment</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">5,006</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">4,919</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember_zYKJsQnUoyji" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Leasehold improvements</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,926</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,916</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_maPPAENzrTN_zsmh05ZhGa47" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt">Gross property and equipment</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,932</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,835</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNI_pn3n3_di_msPPAENzrTN_zcBnPp3uNAv" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Less: Accumulated depreciation</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(4,976</td><td style="text-align: left">)</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(4,816</td><td style="text-align: left">)</td></tr> <tr id="xdx_40A_eus-gaap--PropertyPlantAndEquipmentNet_iTI_pn3n3_mtPPAENzrTN_zKzNsJbIuFU" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Net property and equipment</td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">2,956</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">3,019</td><td style="text-align: left"> </td></tr> </table> <p id="xdx_8A1_zWuQZ64rRVsb" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89B_eus-gaap--PropertyPlantAndEquipmentTextBlock_z2KqGDzoiCXc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Property and Equipment consist of the following (in thousands):</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B5_zN6wuz5kewm" style="display: none">Schedule of Property and Equipment</span></span></span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_496_20260331_zbImeEjpmHC2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">March 31, 2026</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_495_20251231_zWCKDpfNCqUe" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2025</td><td style="font-weight: bold"> </td></tr> <tr id="xdx_40D_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--EquipmentMember_zZKh4IMDROYh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%">Equipment</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">5,006</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">4,919</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember_zYKJsQnUoyji" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Leasehold improvements</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,926</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,916</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--PropertyPlantAndEquipmentGross_iI_pn3n3_maPPAENzrTN_zsmh05ZhGa47" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt">Gross property and equipment</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,932</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,835</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNI_pn3n3_di_msPPAENzrTN_zcBnPp3uNAv" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Less: Accumulated depreciation</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(4,976</td><td style="text-align: left">)</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(4,816</td><td style="text-align: left">)</td></tr> <tr id="xdx_40A_eus-gaap--PropertyPlantAndEquipmentNet_iTI_pn3n3_mtPPAENzrTN_zKzNsJbIuFU" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Net property and equipment</td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">2,956</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">3,019</td><td style="text-align: left"> </td></tr> </table> 5006000 4919000 2926000 2916000 7932000 7835000 4976000 4816000 2956000 3019000 <p id="xdx_809_eus-gaap--GoodwillAndIntangibleAssetsDisclosureTextBlock_zJzlHSpAMUV3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>7. <span id="xdx_821_zIP717Y4QgFg">Goodwill and Intangible Assets</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89F_eus-gaap--ScheduleOfIntangibleAssetsAndGoodwillTableTextBlock_zPIEGgNJydqk" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Goodwill and Intangible Assets consist of the following (in thousands):</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; display: none; margin: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B1_zfr5eSOrRM7b" style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt">Schedule of Intangible Assets</span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_49F_20260331_zErnbqq1gGAc" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">March 31, 2026</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_498_20251231_z475M6uzMqH9" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2025</td><td style="font-weight: bold"> </td></tr> <tr id="xdx_40C_eus-gaap--Goodwill_iI_pn3n3_zXylDII4j4Kd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%">Goodwill</td><td style="width: 2%"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 16%; text-align: right">3,764</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 16%; text-align: right">3,764</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_pn3n3_hus-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--DevelopedTechnologyRightsMember_zLOGOQbFUTy3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Developed technology</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">6,443</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">6,442</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_pn3n3_hus-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--InProcessResearchAndDevelopmentMember_zxZ9DxsSWCb7" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">In process research and development</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">577</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">578</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_pn3n3_hus-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--CustomerRelationshipsMember_zZNX0dCo3c64" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Customer relationships</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">310</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">310</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_pn3n3_hus-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--TrademarksMember_zi5wW0ZoGVm7" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Trademark</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">410</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">410</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_pn3n3_maFLIANzhOT_zIBZvr8zrqY8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Total intangibles</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,740</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,740</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iNI_pn3n3_di_msFLIANzhOT_zlEdwCDFofG7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Less: Accumulated amortization</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(1,547</td><td style="text-align: left">)</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(1,311</td><td style="text-align: left">)</td></tr> <tr id="xdx_409_eus-gaap--FiniteLivedIntangibleAssetsNet_iTI_pn3n3_mtFLIANzhOT_z5YBSjhjAeoj" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Net intangibles</td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">6,193</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">6,429</td><td style="text-align: left"> </td></tr> </table> <p id="xdx_8A9_zZusX24UhCCf" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89F_eus-gaap--ScheduleOfIntangibleAssetsAndGoodwillTableTextBlock_zPIEGgNJydqk" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Goodwill and Intangible Assets consist of the following (in thousands):</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; display: none; margin: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8B1_zfr5eSOrRM7b" style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt">Schedule of Intangible Assets</span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_49F_20260331_zErnbqq1gGAc" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">March 31, 2026</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_498_20251231_z475M6uzMqH9" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2025</td><td style="font-weight: bold"> </td></tr> <tr id="xdx_40C_eus-gaap--Goodwill_iI_pn3n3_zXylDII4j4Kd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%">Goodwill</td><td style="width: 2%"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 16%; text-align: right">3,764</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td style="border-bottom: Black 1pt solid; width: 16%; text-align: right">3,764</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_pn3n3_hus-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--DevelopedTechnologyRightsMember_zLOGOQbFUTy3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Developed technology</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">6,443</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">6,442</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_pn3n3_hus-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--InProcessResearchAndDevelopmentMember_zxZ9DxsSWCb7" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">In process research and development</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">577</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">578</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_pn3n3_hus-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--CustomerRelationshipsMember_zZNX0dCo3c64" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Customer relationships</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">310</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">310</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_pn3n3_hus-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--TrademarksMember_zi5wW0ZoGVm7" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Trademark</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">410</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">410</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_pn3n3_maFLIANzhOT_zIBZvr8zrqY8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Total intangibles</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,740</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,740</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iNI_pn3n3_di_msFLIANzhOT_zlEdwCDFofG7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Less: Accumulated amortization</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(1,547</td><td style="text-align: left">)</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(1,311</td><td style="text-align: left">)</td></tr> <tr id="xdx_409_eus-gaap--FiniteLivedIntangibleAssetsNet_iTI_pn3n3_mtFLIANzhOT_z5YBSjhjAeoj" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Net intangibles</td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">6,193</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">6,429</td><td style="text-align: left"> </td></tr> </table> 3764000 3764000 6443000 6442000 577000 578000 310000 310000 410000 410000 7740000 7740000 1547000 1311000 6193000 6429000 <p id="xdx_80C_eus-gaap--LesseeOperatingLeasesTextBlock_zq0DIptu0swg" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>8. <span id="xdx_826_zGBANtSHhs0j">Leases</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On March 1, 2021, the Company entered into an office lease agreement (the “Globe Lease”) with Globe Building Company, under which the Company leases executive office space and manufacturing facilities of approximately <span id="xdx_909_eus-gaap--AreaOfLand_iI_usqft_c20210301__us-gaap--TypeOfArrangementAxis__custom--OfficeLeaseAgreementMember__dei--LegalEntityAxis__custom--GlobeBuildingCompanyMember_zNARkHHHS9Hi" title="Area of land">43,100</span> square feet of rentable space located at 710 N. Tucker Boulevard, St. Louis, Missouri that serves as the Company’s principal executive and administrative offices and manufacturing facility. Lease payments commenced on January 1, 2022, and the lease has a term of <span id="xdx_905_eus-gaap--LesseeOperatingLeaseTermOfContract_iI_dc_c20210301__us-gaap--TypeOfArrangementAxis__custom--OfficeLeaseAgreementMember__dei--LegalEntityAxis__custom--GlobeBuildingCompanyMember_zmen5omroP6a" title="Operating lease, term">ten years</span>, with <span id="xdx_900_eus-gaap--LesseeOperatingLeaseOptionToExtend_c20210301__20210301__us-gaap--TypeOfArrangementAxis__custom--OfficeLeaseAgreementMember__dei--LegalEntityAxis__custom--GlobeBuildingCompanyMember_zvxY2BXiRMLg" title="Operating lease, option to extend">two</span> renewal options of <span id="xdx_907_eus-gaap--LesseeOperatingLeaseRenewalTerm_iI_dc_c20210301__us-gaap--TypeOfArrangementAxis__custom--OfficeLeaseAgreementMember__dei--LegalEntityAxis__custom--GlobeBuildingCompanyMember_zY8EFeEVSAFf" title="Operating lease, renewal term">five years</span> each. The minimum annual rent under the terms of the Globe Lease ranges from approximately $<span id="xdx_908_eus-gaap--PaymentsForRent_pn5n6_c20210301__20210301__us-gaap--TypeOfArrangementAxis__custom--OfficeLeaseAgreementMember__dei--LegalEntityAxis__custom--GlobeBuildingCompanyMember__us-gaap--AwardDateAxis__custom--TwoThousandTwentyTwoMember_zsWSfIbRHxHl" title="Payments for rent">0.8</span> million in 2022 to $<span id="xdx_907_eus-gaap--PaymentsForRent_pn5n6_c20210301__20210301__us-gaap--TypeOfArrangementAxis__custom--OfficeLeaseAgreementMember__dei--LegalEntityAxis__custom--GlobeBuildingCompanyMember__us-gaap--AwardDateAxis__custom--TwoThousandThirtyOneMember_zQNgLXyzKDB4" title="Payments for rent">1.0</span> million in 2031.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On July 31, 2024, the Company entered into a lease agreement (the “Talulla Lease”) with Talulla Group LLC, under which the Company will lease office space and manufacturing facilities of approximately <span id="xdx_909_eus-gaap--AreaOfLand_iI_usqft_c20240731__us-gaap--TypeOfArrangementAxis__custom--LeaseAgreementMember__dei--LegalEntityAxis__custom--TallulaGroupLLCMember_ztA7Q2YqKl8j" title="Area of land">11,300</span> square feet of rentable space located at 12560 Fletcher Lane, Rogers, Minnesota that will continue to serve as the APT’s office and manufacturing facility. Lease payments commenced on August 1, 2024, and the lease has a term of <span id="xdx_906_eus-gaap--LesseeOperatingLeaseTermOfContract_iI_dc_c20240731__us-gaap--TypeOfArrangementAxis__custom--LeaseAgreementMember__dei--LegalEntityAxis__custom--TallulaGroupLLCMember_zxK8OHXSAvp7" title="Operating lease, term">four years</span>, with <span id="xdx_90A_eus-gaap--LesseeOperatingLeaseOptionToExtend_c20240731__20240731__us-gaap--TypeOfArrangementAxis__custom--LeaseAgreementMember__dei--LegalEntityAxis__custom--TallulaGroupLLCMember_zhCCiy07waG1" title="Operating lease, option to extend">two</span> renewal options of <span id="xdx_904_eus-gaap--LesseeOperatingLeaseRenewalTerm_iI_dc_c20240731__us-gaap--TypeOfArrangementAxis__custom--LeaseAgreementMember__dei--LegalEntityAxis__custom--TallulaGroupLLCMember_zNKiQldGz2tb" title="Operating lease, renewal term">four years</span> each. The minimum annual rent under the terms of the Talulla Lease is approximately $<span id="xdx_909_eus-gaap--PaymentsForRent_pn5n6_c20240731__20240731__us-gaap--TypeOfArrangementAxis__custom--LeaseAgreementMember__dei--LegalEntityAxis__custom--TallulaGroupLLCMember_z6yltWlNWZ4l" title="Payments for rent">0.2</span> million per year. In accordance with ASC 842, the Company recorded a ROU asset and lease liability in third quarter of 2024. The initial recognition of the ROU asset and lease liability was $<span id="xdx_903_ecustom--OperatingLeaseRightOfUseAssetAndLiability_iI_pn5n6_c20240731_z55WTEVGH0zl" title="ROU asset and lease liability">1.0</span> million.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of March 31, 2026, the weighted average discount rate for operating leases was <span id="xdx_900_eus-gaap--OperatingLeaseWeightedAverageDiscountRatePercent_iI_pid_dp_uPure_c20260331_z8XGeoufQ0k5" title="Weighted average discount rate, operating lease">9</span>% and the weighted average remaining lease term for operating lease term is <span id="xdx_908_eus-gaap--OperatingLeaseWeightedAverageRemainingLeaseTerm1_iI_dtY_c20260331_z8nVprRQyyN7" title="Weighted average remaining lease term, operating lease">5.84</span> years.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89E_eus-gaap--LeaseCostTableTextBlock_z6uVhcriS4th" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table represents lease costs and other lease information (in thousands):</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span id="xdx_8BA_zim4WqRGuyCe" style="display: none">Schedule of Lease Costs and Other Lease Information</span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="display: none; vertical-align: bottom"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" id="xdx_49E_20260101__20260331_zosNSmSDGmxe" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2026</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" id="xdx_490_20250101__20250331_zaZVgEJPuuoh" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2025</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Three Months Ended March 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="font-weight: bold"> </td></tr> <tr id="xdx_400_eus-gaap--OperatingLeaseCost_pn3n3_maLCzGh8_zggb5vZzAr6a" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Operating lease cost</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">271</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">269</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--ShortTermLeaseCost_pn3n3_maLCzGh8_zHweyw6BHSW9" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Short-term lease cost</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--LeaseCost_iT_pn3n3_mtLCzGh8_zkIQKqLTirne" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Total net lease cost</td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">272</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">270</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--OperatingLeasePayments_pn3n3_z4NwA3NGOvld" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Cash paid within operating cash flows</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">315</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">294</td><td style="text-align: left"> </td></tr> </table> <p id="xdx_8AD_zSSaktAUDvIj" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Variable lease costs consist primarily of taxes, insurance, and common area or other maintenance costs for our leased facilities and equipment which are paid based on actual costs incurred.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_895_eus-gaap--LesseeOperatingLeaseLiabilityMaturityTableTextBlock_zxL2mdu4srSl" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Future minimum payments for operating leases with initial or remaining terms of one year or more as of March 31, 2026, were as follows (in thousands):</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span id="xdx_8B4_zGsoMfFRh3pb" style="display: none">Schedule of Future Minimum Operating Lease Payments</span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_49D_20260331_zQbP47kkEH8h" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">March 31, 2026</td><td style="font-weight: bold"> </td></tr> <tr id="xdx_403_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear_iI_maLOLLPzMtV_ztDVjX2LT0o1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%; text-align: left">2026</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">822</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths_iI_pn3n3_maLOLLPz0Iy_maLOLLPzMtV_zSQ0YOMFkbOh" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">2027</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,122</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearTwo_iI_pn3n3_maLOLLPz0Iy_maLOLLPzMtV_zUQS9dNlivX8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">2028</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,147</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearThree_iI_pn3n3_maLOLLPz0Iy_maLOLLPzMtV_zjfKLCsffvd1" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">2029</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,173</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearFour_iI_pn3n3_maLOLLPz0Iy_maLOLLPzMtV_zOvtDeA4jZaj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">2030</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,199</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_ecustom--LesseeOperatingLeaseLiabilityPaymentsDueYearFiveAndThereafter_iI_pn3n3_maLOLLPz0Iy_maLOLLPzMtV_z4MAwX1EtHQ" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">2031 and thereafter</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,334</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDue_iTI_pn3n3_mtLOLLPzMtV_zFQ7KEAplOnc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Total lease payments</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6,797</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--LesseeOperatingLeaseLiabilityUndiscountedExcessAmount_iNI_pn3n3_di_zdN9kfLywOx2" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 20pt; text-align: left">Less: Interest</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(1,517</td><td style="text-align: left">)</td></tr> <tr id="xdx_40D_eus-gaap--OperatingLeaseLiability_iTI_pn3n3_ziCmje6fE9Fd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt">Present value of lease liabilities</td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">5,280</td><td style="text-align: left"> </td></tr> </table> <p id="xdx_8A3_zCHbLYvHiGxg" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> 43100 P10Y two P5Y 800000 1000000.0 11300 P4Y two P4Y 200000 1000000.0 0.09 P5Y10M2D <p id="xdx_89E_eus-gaap--LeaseCostTableTextBlock_z6uVhcriS4th" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The following table represents lease costs and other lease information (in thousands):</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span id="xdx_8BA_zim4WqRGuyCe" style="display: none">Schedule of Lease Costs and Other Lease Information</span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="display: none; vertical-align: bottom"> <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" id="xdx_49E_20260101__20260331_zosNSmSDGmxe" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2026</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="2" id="xdx_490_20250101__20250331_zaZVgEJPuuoh" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2025</span></td><td style="font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Three Months Ended March 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="font-weight: bold"> </td></tr> <tr id="xdx_400_eus-gaap--OperatingLeaseCost_pn3n3_maLCzGh8_zggb5vZzAr6a" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Operating lease cost</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">271</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">269</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--ShortTermLeaseCost_pn3n3_maLCzGh8_zHweyw6BHSW9" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Short-term lease cost</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--LeaseCost_iT_pn3n3_mtLCzGh8_zkIQKqLTirne" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Total net lease cost</td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">272</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">270</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--OperatingLeasePayments_pn3n3_z4NwA3NGOvld" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Cash paid within operating cash flows</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">315</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">294</td><td style="text-align: left"> </td></tr> </table> 271000 269000 1000 1000 272000 270000 315000 294000 <p id="xdx_895_eus-gaap--LesseeOperatingLeaseLiabilityMaturityTableTextBlock_zxL2mdu4srSl" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Future minimum payments for operating leases with initial or remaining terms of one year or more as of March 31, 2026, were as follows (in thousands):</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span id="xdx_8B4_zGsoMfFRh3pb" style="display: none">Schedule of Future Minimum Operating Lease Payments</span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_49D_20260331_zQbP47kkEH8h" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">March 31, 2026</td><td style="font-weight: bold"> </td></tr> <tr id="xdx_403_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear_iI_maLOLLPzMtV_ztDVjX2LT0o1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%; text-align: left">2026</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">822</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths_iI_pn3n3_maLOLLPz0Iy_maLOLLPzMtV_zSQ0YOMFkbOh" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">2027</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,122</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearTwo_iI_pn3n3_maLOLLPz0Iy_maLOLLPzMtV_zUQS9dNlivX8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">2028</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,147</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearThree_iI_pn3n3_maLOLLPz0Iy_maLOLLPzMtV_zjfKLCsffvd1" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">2029</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,173</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearFour_iI_pn3n3_maLOLLPz0Iy_maLOLLPzMtV_zOvtDeA4jZaj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">2030</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,199</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_ecustom--LesseeOperatingLeaseLiabilityPaymentsDueYearFiveAndThereafter_iI_pn3n3_maLOLLPz0Iy_maLOLLPzMtV_z4MAwX1EtHQ" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">2031 and thereafter</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,334</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDue_iTI_pn3n3_mtLOLLPzMtV_zFQ7KEAplOnc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt; text-align: left">Total lease payments</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6,797</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--LesseeOperatingLeaseLiabilityUndiscountedExcessAmount_iNI_pn3n3_di_zdN9kfLywOx2" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 20pt; text-align: left">Less: Interest</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(1,517</td><td style="text-align: left">)</td></tr> <tr id="xdx_40D_eus-gaap--OperatingLeaseLiability_iTI_pn3n3_ziCmje6fE9Fd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 10pt">Present value of lease liabilities</td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">5,280</td><td style="text-align: left"> </td></tr> </table> 822000 1122000 1147000 1173000 1199000 1334000 6797000 1517000 5280000 <p id="xdx_80D_eus-gaap--AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock_zIE6opGPcqYk" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>9. <span id="xdx_827_zLfeBg8HlgR8">Accrued Liabilities</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_894_eus-gaap--ScheduleOfAccruedLiabilitiesTableTextBlock_zM1Hv5LxDP8j" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accrued liabilities consist of the following (in thousands):</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span id="xdx_8BE_z5Nb5zTcGmC1" style="display: none">Schedule of Accrued Liabilities</span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_498_20260331_zipC9nUIPJ9d" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">March 31, 2026</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_490_20251231_zGnnfm0eAU2l" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2025</td><td style="font-weight: bold"> </td></tr> <tr id="xdx_408_eus-gaap--EmployeeRelatedLiabilitiesCurrentAndNoncurrent_iI_pn3n3_maCzGlu_zQ9HMPcyGPCc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Accrued salaries, bonus, and benefits</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">1,238</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">1,860</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--ProductWarrantyAccrualClassifiedCurrent_iI_pn3n3_maCzGlu_z2gmr55ATIDd" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Accrued warranties</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">39</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">41</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--AccruedProfessionalFeesCurrent_iI_pn3n3_maCzGlu_zWtu632pUAG" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Accrued professional services</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">138</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">77</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--AccruedIncomeTaxes_iI_pn3n3_maCzGlu_zl7Ble7Q2ta2" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Accrued taxes</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">61</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">62</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--ContractualObligation_iI_pn3n3_maCzGlu_zPrZ9jYcUtzf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Deferred contract obligation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,045</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,045</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--OtherAccruedLiabilitiesCurrentAndNoncurrent_iI_pn3n3_maCzGlu_zXXnWUGZVAz" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Other</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">54</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">77</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--AccruedLiabilitiesCurrentAndNoncurrent_iTI_pn3n3_mtCzGlu_mtALCzYml_zLISw7YUyqPj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Total accrued liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,575</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,162</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--OtherLiabilitiesNoncurrent_iNI_pn3n3_di_maALCzYml_zSz7hRxZYIr7" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Less: Long term accrued liabilities</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(1,097</td><td style="text-align: left">)</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(1,097</td><td style="text-align: left">)</td></tr> <tr id="xdx_403_eus-gaap--AccruedLiabilitiesCurrent_iI_pn3n3_maALCzYml_zibBuojdHpw3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Total current accrued liabilities</td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,478</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">2,065</td><td style="text-align: left"> </td></tr> </table> <p id="xdx_8A0_zXAtDNXQ5n6c" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"></p> <p id="xdx_894_eus-gaap--ScheduleOfAccruedLiabilitiesTableTextBlock_zM1Hv5LxDP8j" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accrued liabilities consist of the following (in thousands):</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span id="xdx_8BE_z5Nb5zTcGmC1" style="display: none">Schedule of Accrued Liabilities</span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_498_20260331_zipC9nUIPJ9d" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">March 31, 2026</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_490_20251231_zGnnfm0eAU2l" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2025</td><td style="font-weight: bold"> </td></tr> <tr id="xdx_408_eus-gaap--EmployeeRelatedLiabilitiesCurrentAndNoncurrent_iI_pn3n3_maCzGlu_zQ9HMPcyGPCc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: left">Accrued salaries, bonus, and benefits</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">1,238</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">1,860</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--ProductWarrantyAccrualClassifiedCurrent_iI_pn3n3_maCzGlu_z2gmr55ATIDd" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Accrued warranties</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">39</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">41</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--AccruedProfessionalFeesCurrent_iI_pn3n3_maCzGlu_zWtu632pUAG" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Accrued professional services</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">138</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">77</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--AccruedIncomeTaxes_iI_pn3n3_maCzGlu_zl7Ble7Q2ta2" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Accrued taxes</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">61</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">62</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--ContractualObligation_iI_pn3n3_maCzGlu_zPrZ9jYcUtzf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Deferred contract obligation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,045</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,045</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--OtherAccruedLiabilitiesCurrentAndNoncurrent_iI_pn3n3_maCzGlu_zXXnWUGZVAz" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Other</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">54</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">77</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--AccruedLiabilitiesCurrentAndNoncurrent_iTI_pn3n3_mtCzGlu_mtALCzYml_zLISw7YUyqPj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Total accrued liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,575</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,162</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--OtherLiabilitiesNoncurrent_iNI_pn3n3_di_maALCzYml_zSz7hRxZYIr7" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Less: Long term accrued liabilities</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(1,097</td><td style="text-align: left">)</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(1,097</td><td style="text-align: left">)</td></tr> <tr id="xdx_403_eus-gaap--AccruedLiabilitiesCurrent_iI_pn3n3_maALCzYml_zibBuojdHpw3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Total current accrued liabilities</td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,478</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">2,065</td><td style="text-align: left"> </td></tr> </table> 1238000 1860000 39000 41000 138000 77000 61000 62000 1045000 1045000 54000 77000 2575000 3162000 1097000 1097000 1478000 2065000 <p id="xdx_80D_eus-gaap--ShareholdersEquityAndShareBasedPaymentsTextBlock_zL7TKq4pOxii" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>10. <span id="xdx_82D_z0MWIbm2iQb7">Convertible Preferred Stock and Stockholders’ Equity</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90F_eus-gaap--CommonStockVotingRights_c20260101__20260331_zWFhPsQAjWW8" title="Common stock, voting rights">The holders of common stock are entitled to one vote for each share</span> held and to receive dividends when and as declared by the Board of Directors out of funds legally available for dividends, subject to the prior rights or preferences applicable to any preferred stock as may then be outstanding. <span id="xdx_907_eus-gaap--PaymentsOfDividendsCommonStock_do_c20260101__20260331_z3Gi5to1k0Gj" title="Payments of dividends common stock">No</span> dividends have been declared or paid as of March 31, 2026, and the Company does not presently intend to pay any cash dividends in the foreseeable future.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>At-the-Market Offering Program</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On August 29, 2025, the Company entered into a sales agreement (the “Original Sales Agreement”, and as amended below, the “Sales Agreement”) with Roth Capital Markets (“Roth”), as sales agent and/or principal, pursuant to which the Company may issue and sell, from time to time, through Roth as sales agent and/or principal, shares of its common stock having an aggregate gross sales price of up to $<span id="xdx_908_eus-gaap--SaleOfStockConsiderationReceivedOnTransaction_pn5n6_c20250829__20250829__us-gaap--TypeOfArrangementAxis__custom--AtTheMarketOfferingSalesAgreementMember_zEL7hUBTaKZb" title="Aggregate gross sales price of common stock">50.0</span> million. Sales may be made by any method deemed an “at-the-market offering” as defined in Rule 415(a)(4) under the Securities Act or through privately negotiated transactions. The Company is obligated to pay Roth a commission of up to <span id="xdx_904_ecustom--CommissionPercentageBasedOnGrossProceedsFromSharesSold_pid_dp_uPure_c20250829__20250829__us-gaap--TypeOfArrangementAxis__custom--AtTheMarketOfferingSalesAgreementMember_zhsnSrAJRxcl" title="Commission percentage on gross proceeds from shares sold">3.0</span>% of the gross proceeds from any common stock sold through the Sales Agreement, along with reimbursement of certain expenses. Roth may also buy shares as principal for its own account at prices agreed upon at the time of sale, in which case the Company will enter into a separate terms agreement with Roth.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On March 13, 2026, the Company entered into a first amendment to the Sales Agreement, which modified the Original Sales Agreement to, among other things, reflect our filing of a new shelf registration statement on Form S-3 with the SEC on March 13, 2026 and set the maximum amount of shares of our common stock that we may offer and sell through or to Roth at $<span id="xdx_90C_eus-gaap--SaleOfStockConsiderationReceivedOnTransaction_pn6n6_c20260313__20260313__us-gaap--TypeOfArrangementAxis__custom--AtTheMarketOfferingAmendedSalesAgreementMember_zuTW5qovReV3" title="Aggregate gross sales price of common stock">50</span> million from the date of the amendment to the Sales Agreement, subject to certain limitations set forth in the amendment.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During the three months ended March 31, 2026, the Company sold an aggregate of <span id="xdx_907_ecustom--StockIssuedDuringPeriodSharesMarketOffering_c20260101__20260331_zM45X7D3JMq2" title="Stock issued during period shares market offering">2,005,308</span> shares of common stock under the Sales Agreement, at an average price of approximately $<span id="xdx_90A_ecustom--AveragePriceOfGrossProceedsPrice_iI_pid_c20260331_zRDCGa77nQS9" title="Average price of gross proceeds , price">2.39</span> per share for gross proceeds of $<span id="xdx_90A_eus-gaap--ProceedsFromIssuanceOrSaleOfEquity_pn5n6_c20260101__20260331_zxJSvEyScLOg" title="Gross proceeds">4.8</span> million and net proceeds of $<span id="xdx_907_ecustom--ProceedsFromIssuanceCommonStock_pn5n6_c20260101__20260331_zPSPAe4mtTNh" title="Net proceeds">4.6</span> million, after deducting Roth’s commission and other expenses. As of March 31, 2026, $<span id="xdx_90D_ecustom--SaleOfStockNumberOfSharesToBeIssuedInTransaction_pn5n6_c20260101__20260331_zsRy0knn8EM9" title="Common stock, available to be sold">50.0</span> million of common stock remained available to be sold under this program, subject to certain conditions as specified in the Sales Agreement. The Company intends to use the net proceeds from any sales of common stock this at-the-market offering program for working capital, research and development and other general corporate purposes, including the accelerated commercialization of the Company’s innovation pipeline.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>2025 Equity Financing</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On July 17, 2025, the Company entered into a placement agency agreement (the “Placement Agency Agreement”) with Lake Street Capital Markets, LLC (“Placement Agent”) and a securities purchase agreement (the “Purchase Agreement”) with certain investors (the “Investors”) pursuant to which the Company agreed to sell, in a registered direct offering (the “Offering”), $<span id="xdx_906_ecustom--SaleOfStockGrossConsiderationReceivedOnTransaction_pn5n6_c20250717__20250717__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zyRMDWKZ70Rg" title="Proceeds received before deducting issuance costs">12.5</span> million shares of its common stock, as described below. The public offering price for each per share of common stock in the Offering was $<span id="xdx_901_eus-gaap--SaleOfStockPricePerShare_iI_c20250717__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zGJcUmBq458c" title="Offering price per share">2.00</span>. The initial closing (the “Initial Closing”) under the Purchase Agreement occurred on July 18, 2025. The Company issued an aggregate of <span id="xdx_90F_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_pid_c20250718__20250718__srt--TitleOfIndividualAxis__custom--InvestorsMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zMxf2MyBHJDg" title="Number of shares issued">4,250,000</span> shares of its common stock (the “Initial Shares”) to the Investors and received net proceeds of $<span id="xdx_903_eus-gaap--ProceedsFromIssuanceOfCommonStock_pn5n6_c20250718__20250718__srt--TitleOfIndividualAxis__custom--InvestorsMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zPocgsPnEuc8" title="Net proceeds from offering">7.8</span> million after deducting the Placement Agent’s fees and other offering expenses payable by the Company with respect to such Initial Shares. The Company agreed to pay the Placement Agent as compensation a cash fee equal to <span id="xdx_906_ecustom--PercentageOfCashFeeCompensation_pid_uPure_c20250718__20250718__srt--TitleOfIndividualAxis__custom--InvestorsMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zhOytCoqjC1j" title="Percentage of cash fee compensation">5.5</span>% as to $<span id="xdx_903_eus-gaap--ProceedsFromIssuanceOrSaleOfEquity_pn5n6_c20250718__20250718__srt--TitleOfIndividualAxis__custom--InvestorsMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zHb2z5sElrsk" title="Gross proceeds from offering">7.5</span> million of the gross proceeds received at the Initial Closing, plus reimbursement of certain expenses. In addition, the Company agreed to issue, and one of the Investors agreed to purchase, <span id="xdx_900_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_pid_c20251125__20251125__srt--TitleOfIndividualAxis__custom--InvestorsMember_z28CYEJvG7Z" title="Additional shares issuance">2,000,000</span> additional Shares (the “Additional Shares”) on November 25, 2025 (or such earlier date as the Company and such Investor agrees) (the “Additional Closing”). At the Additional Closing, the Company received gross proceeds of $<span id="xdx_90A_eus-gaap--StockIssuedDuringPeriodValueNewIssues_pn5n6_c20251125__20251125__srt--TitleOfIndividualAxis__custom--InvestorsMember_zfiuPITUHLWb" title="Gross proceeds from additional shares issuance">4.0</span> million for such Additional Shares, before deducting Offering expenses payable by the Company with respect to such Additional Shares.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Access Point Technologies Share Purchase Agreement</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On July 31, 2024, the Company acquired all the shares of capital stock of Access Point Technologies EP, Inc. (“APT”), a Minnesota corporation, from APT Holding Company, Inc. (“APT Holding”), a Minnesota corporation, pursuant to a Share Purchase Agreement among the Company, APT and APT Holding dated May 11, 2024 (the “APT Share Purchase Agreement”). At closing, the Company issued <span id="xdx_903_eus-gaap--StockIssuedDuringPeriodSharesAcquisitions_pid_c20240731__20240731__us-gaap--BusinessAcquisitionAxis__custom--AccessPointTechnologiesEPIncMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zbKXThXNtA72" title="Stock consideration acquisitions, shares">1,486,620</span> shares of its common stock (the “Upfront Stock Consideration”) with an agreed upon value of $<span id="xdx_90F_eus-gaap--StockIssuedDuringPeriodValueAcquisitions_pn5n6_c20240731__20240731__us-gaap--BusinessAcquisitionAxis__custom--AccessPointTechnologiesEPIncMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_znES1xv9TNwi" title="Stock consideration acquisitions, value">3.0</span> million. The Share Purchase Agreement obligated the Company to file a resale registration statement relating to the Upfront Stock Consideration and additional Earnout Shares. The registration statement covered the <span id="xdx_908_eus-gaap--BusinessAcquisitionEquityInterestsIssuedOrIssuableNumberOfSharesIssued_pid_c20240731__20240731__us-gaap--BusinessAcquisitionAxis__custom--AccessPointTechnologiesEPIncMember_zaVRliegHh31" title="Business acquisition, number of closing shares">1,486,620</span> shares issued as Upfront Stock Consideration and an estimated <span id="xdx_905_ecustom--BusinessAcquisitionAdditionalEarnoutShares_pid_c20240731__20240731__us-gaap--BusinessAcquisitionAxis__custom--AccessPointTechnologiesEPIncMember_zIpW45kfOcm1" title="Business acquisition, additional earnout shares">4,613,380</span> additional Earnout Shares deliverable under the APT Share Purchase Agreement.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Thereafter , the Company issued a portion of the Earnout Shares deliverable under the APT Share Purchase Agreement to APT Holding, comprised of (i) <span id="xdx_907_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20250807__20250807__dei--LegalEntityAxis__custom--APTHoldingCompanyIncMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zFPpt1VZcmLh" title="Shares issued as partial settlement of earnout consideration">417,710</span> Earnout Shares on August 7, 2025 in accordance with Section 2.5(b) of the APT Share Purchase Agreement, and (ii) <span id="xdx_90E_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20251029__20251029__dei--LegalEntityAxis__custom--APTHoldingCompanyIncMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zO50avncPqkg" title="Shares issued as partial settlement of earnout consideration">1,001,813</span> Earnout Shares on October 29, 2025 in accordance with Section 2.5(c) of the APT Share Purchase Agreement.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The exact number of additional Earnout Shares that may be issued under the APT Share Purchase Agreement for additional achievement of regulatory or commercial milestones will be calculated based on the average of the closing per share price of Stereotaxis common stock immediately prior to the dates such milestones are achieved. The final end date for all such milestones is September 30, 2029. The aggregate agreed upon value of such Earnout Shares could be up to $<span id="xdx_90D_ecustom--BusinessCombinationPerformanceObligationRegulatoryMilestonesPayableAmount_pn5n6_c20240731__20240731__us-gaap--TypeOfArrangementAxis__custom--SharePurchaseAgreementMember__us-gaap--BusinessAcquisitionAxis__custom--AccessPointTechnologiesEPIncMember_zrzRrV2E7bu6" title="Business combination performance obligation regulatory milestones payable amount">24.0</span> million in total value (assuming all commercial and regulatory milestones are achieved and inclusive of the Earnout Shares issued in August and October 2025), provided in no event will the Company be obligated to issue the Earnout Shares, together with the Upfront Stock Consideration, that would exceed <span id="xdx_90E_ecustom--BusinessCombinationPercentageOfMaximumVotingRightsToIssueCommonShares_iI_pid_dp_uPure_c20240731__us-gaap--TypeOfArrangementAxis__custom--SharePurchaseAgreementMember__us-gaap--BusinessAcquisitionAxis__custom--AccessPointTechnologiesEPIncMember_z21Y5UTd2PHc" title="Business combination percentage of maximum voting rights to issue common shares">19.9</span>% of the total number of shares of the Company’s common stock issued and outstanding immediately prior to July 31, 2024.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company recognized expense of $<span id="xdx_901_eus-gaap--BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1_pn5n6_c20260101__20260331_zy66GyELSYJc" title="Defined contribution implies pension">0.8</span> million and $<span id="xdx_904_eus-gaap--BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1_pn5n6_c20250101__20250331_z6ELGJT70uod" title="Defined contribution implies pension">0.5</span> million for the three months ended March 31, 2026 and 2025, respectively, due to the revaluation of contingent consideration. This expense is recognized within General and Administrative expenses.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Series A Convertible Preferred Stock and Warrants</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In September 2016, the Company issued (i) <span id="xdx_90F_eus-gaap--PreferredStockSharesIssued_iI_pid_c20160930__us-gaap--StatementClassOfStockAxis__custom--SeriesAConvertiblePreferredStockMember_zD0m5GSoaUHi" title="Preferred stock, shares issued">24,000</span> shares of Series A Convertible Preferred Stock (the “Series A Preferred Stock”), par value $<span id="xdx_90F_eus-gaap--PreferredStockParOrStatedValuePerShare_iI_pid_c20160930__us-gaap--StatementClassOfStockAxis__custom--SeriesAConvertiblePreferredStockMember_z9rT2cloBonf" title="Preferred stock, par value">0.001</span> per share, with a stated value of $<span id="xdx_906_ecustom--PreferredStockStatedValuePerShare_iI_pid_c20160930__us-gaap--StatementClassOfStockAxis__custom--SeriesAConvertiblePreferredStockMember_zRDYnZQgjUp7" title="Preferred stock, stated value">1,000</span> per share, which are convertible into shares of the Company’s common stock at an initial conversion rate of $<span id="xdx_908_eus-gaap--PreferredStockConvertibleConversionPrice_iI_pid_c20160930__us-gaap--StatementClassOfStockAxis__custom--SeriesAConvertiblePreferredStockMember_zkQBRYCYCgX8" title="Conversion price per share">0.65</span> per share, subject to adjustment for events such as stock splits, combinations and the like as provided in the certificate of designations covering such Series A Preferred Stock, and (ii) (the SPA Warrants) to purchase an aggregate of <span id="xdx_90C_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_pid_c20160930__us-gaap--StatementClassOfStockAxis__custom--SeriesAConvertiblePreferredStockMember_zGm7ZXAgvTKl" title="Common stock issuable from warrants">36,923,078</span> shares of common stock. The shares of Series A Preferred Stock are entitled to vote on an as-converted basis with the common stock, subject to specified beneficial ownership issuance limitations. The Series A Preferred Stock bear dividends at a rate of six percent (<span id="xdx_901_eus-gaap--PreferredStockDividendRatePercentage_pid_dp_uPure_c20160901__20160930__us-gaap--StatementClassOfStockAxis__custom--SeriesAConvertiblePreferredStockMember_zBd9O8J7JmDj" title="Preferred stock dividend rate">6</span>%) per annum, which are cumulative and accrue daily from the date of issuance on the $<span id="xdx_90D_ecustom--PreferredStockStatedValuePerShare_iI_pid_c20160930__us-gaap--StatementClassOfStockAxis__custom--SeriesAConvertiblePreferredStockMember_zs5Jg7QU3yo8" title="Preferred stock, stated value">1,000</span> stated value. Such dividends will not be paid in cash except in connection with any liquidation, dissolution or winding up of the Company or any redemption of the Series A Preferred Stock. Each holder of convertible preferred shares has the right to require us to redeem such holder’s shares of Series A Preferred Stock upon the occurrence of specified events, which include certain business combinations, the sale of all or substantially all of the Company’s assets, or the sale of more than <span id="xdx_90D_ecustom--PreferredStockRedemptionTriggeringEventPercentOfCommonStockSoldThreshold_pid_dp_uPure_c20160901__20160930__us-gaap--StatementClassOfStockAxis__custom--SeriesAConvertiblePreferredStockMember_z4Q7CxM4RGKk" title="Preferred stock redemption, triggering event, percent of common stock sold threshold">50</span>% of the outstanding shares of the Company’s common stock. In addition, the Company has the right to redeem the Series A Preferred Stock in the event of a defined change of control. The Series A Preferred Stock ranks senior to our common stock as to distributions and payments upon the liquidation, dissolution, and winding up of the Company. Since the Series A Preferred Stock are subject to conditions for redemption that are outside the Company’s control, the Series A Preferred Stock are presently reported in the mezzanine section of the consolidated balance sheet.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>2021 CEO Performance Award Unit Grant</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On February 23, 2021, the Company`s Board of Directors, upon recommendation of the Compensation Committee, approved the grant of the CEO Performance Award to the Company’s Chief Executive Officer. The CEO Performance award is a <span id="xdx_90B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsOutstandingWeightedAverageRemainingContractualTerms_dtY_c20210222__20210223__us-gaap--TypeOfArrangementAxis__custom--PerformanceShareUnitAwardAgreementMember__srt--TitleOfIndividualAxis__custom--Mr.FischelMember_zUz9DLOLhVu" title="Performance award term">10</span>-year performance award of up to <span id="xdx_908_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_pid_c20210222__20210223__us-gaap--TypeOfArrangementAxis__custom--PerformanceShareUnitAwardAgreementMember__srt--TitleOfIndividualAxis__custom--Mr.FischelMember_z8Xl53yJgfFj" title="Number of shares granted">13,000,000</span> shares, tied to the achievement of market capitalization milestones and subject to minimum service requirements.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As detailed in the table below, the CEO Performance Award consists of ten vesting tranches. The first market capitalization milestone is $<span id="xdx_903_ecustom--MarketCapitalizationMilestone_iI_pn9n9_c20210223__us-gaap--TypeOfArrangementAxis__custom--PerformanceShareUnitAwardAgreementMember__srt--TitleOfIndividualAxis__custom--Mr.FischelMember_zGM4aPIX9aTh" title="Maximum market capitalization milestone, amount">1.0</span> billion, and each of the remaining nine market capitalization milestones are in additional $<span id="xdx_901_ecustom--IncreaseInMarketCapitalizationMilestone_iI_pn6n6_c20210223__us-gaap--TypeOfArrangementAxis__custom--PerformanceShareUnitAwardAgreementMember__srt--TitleOfIndividualAxis__custom--Mr.FischelMember_zDkZYm1uF23h" title="Increase in market capitalization milestone, amount">500</span> million increments, up to $<span id="xdx_90A_ecustom--MarketCapitalizationMilestone_iI_pn8n9_c20210223__us-gaap--TypeOfArrangementAxis__custom--PerformanceShareUnitAwardAgreementMember__srt--TitleOfIndividualAxis__custom--Mr.FischelMember__srt--RangeAxis__srt--MaximumMember_zLwY7vSItH91" title="Maximum market capitalization milestone, amount">5.5</span> billion.</span></p> <p id="xdx_898_ecustom--SummaryofPerformanceAwardAndMarketCapitalizationMilestonesTableTextBlock_zztXARRkRgle" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span id="xdx_8B0_zUuqyKE6Rt6g" style="display: none">Summary of Performance Award And Market Capitalization Milestones</span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Tranche #</td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">No. of Shares Subject to PSU</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Market Capitalization Milestones⁽¹⁾</b></span></td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: center">1</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_pid_c20210222__20210223__us-gaap--TypeOfArrangementAxis__custom--PerformanceShareUnitAwardAgreementMember__srt--TitleOfIndividualAxis__custom--Mr.FischelMember__us-gaap--VestingAxis__us-gaap--ShareBasedCompensationAwardTrancheOneMember_zowDpn4b7Ukh" style="width: 16%; text-align: right" title="Number of shares subject to PSU">1,000,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_981_ecustom--MarketCapitalizationMilestone_iI_pp0p0_c20210223__us-gaap--TypeOfArrangementAxis__custom--PerformanceShareUnitAwardAgreementMember__srt--TitleOfIndividualAxis__custom--Mr.FischelMember__us-gaap--VestingAxis__us-gaap--ShareBasedCompensationAwardTrancheOneMember_z3ZjpvGjmSS4" style="width: 16%; text-align: right" title="Market capitalization milestone, amount">1,000,000,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: center">2</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_pid_c20210222__20210223__us-gaap--TypeOfArrangementAxis__custom--PerformanceShareUnitAwardAgreementMember__srt--TitleOfIndividualAxis__custom--Mr.FischelMember__us-gaap--VestingAxis__us-gaap--ShareBasedCompensationAwardTrancheTwoMember_zZELsJmbOmN1" style="text-align: right" title="Number of shares subject to PSU">1,500,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_985_ecustom--MarketCapitalizationMilestone_iI_pp0p0_c20210223__us-gaap--TypeOfArrangementAxis__custom--PerformanceShareUnitAwardAgreementMember__srt--TitleOfIndividualAxis__custom--Mr.FischelMember__us-gaap--VestingAxis__us-gaap--ShareBasedCompensationAwardTrancheTwoMember_zMKP0O4A5F8h" style="text-align: right" title="Market capitalization milestone, amount">1,500,000,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center">3</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_pid_c20210222__20210223__us-gaap--TypeOfArrangementAxis__custom--PerformanceShareUnitAwardAgreementMember__srt--TitleOfIndividualAxis__custom--Mr.FischelMember__us-gaap--VestingAxis__us-gaap--ShareBasedCompensationAwardTrancheThreeMember_zjWXDIcI6RXk" style="text-align: right" title="Number of shares subject to PSU">1,500,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_983_ecustom--MarketCapitalizationMilestone_iI_pp0p0_c20210223__us-gaap--TypeOfArrangementAxis__custom--PerformanceShareUnitAwardAgreementMember__srt--TitleOfIndividualAxis__custom--Mr.FischelMember__us-gaap--VestingAxis__us-gaap--ShareBasedCompensationAwardTrancheThreeMember_zjlasVThKuKj" style="text-align: right" title="Market capitalization milestone, amount">2,000,000,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: center">4</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_pid_c20210222__20210223__us-gaap--TypeOfArrangementAxis__custom--PerformanceShareUnitAwardAgreementMember__srt--TitleOfIndividualAxis__custom--Mr.FischelMember__us-gaap--VestingAxis__custom--ShareBasedCompensationAwardTrancheFourMember_zBeM6g0JV77l" style="text-align: right" title="Number of shares subject to PSU">2,000,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_988_ecustom--MarketCapitalizationMilestone_iI_pp0p0_c20210223__us-gaap--TypeOfArrangementAxis__custom--PerformanceShareUnitAwardAgreementMember__srt--TitleOfIndividualAxis__custom--Mr.FischelMember__us-gaap--VestingAxis__custom--ShareBasedCompensationAwardTrancheFourMember_zvMDQCrnshra" style="text-align: right" title="Market capitalization milestone, amount">2,500,000,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center">5</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_pid_c20210222__20210223__us-gaap--TypeOfArrangementAxis__custom--PerformanceShareUnitAwardAgreementMember__srt--TitleOfIndividualAxis__custom--Mr.FischelMember__us-gaap--VestingAxis__custom--ShareBasedCompensationAwardTrancheFiveMember_zsG26jjco02e" style="text-align: right" title="Number of shares subject to PSU">1,000,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98E_ecustom--MarketCapitalizationMilestone_iI_pp0p0_c20210223__us-gaap--TypeOfArrangementAxis__custom--PerformanceShareUnitAwardAgreementMember__srt--TitleOfIndividualAxis__custom--Mr.FischelMember__us-gaap--VestingAxis__custom--ShareBasedCompensationAwardTrancheFiveMember_z2itqkgoMRm1" style="text-align: right" title="Market capitalization milestone, amount">3,000,000,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: center">6</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_pid_c20210222__20210223__us-gaap--TypeOfArrangementAxis__custom--PerformanceShareUnitAwardAgreementMember__srt--TitleOfIndividualAxis__custom--Mr.FischelMember__us-gaap--VestingAxis__custom--ShareBasedCompensationAwardTrancheSixMember_z5D9b0V8idOb" style="text-align: right" title="Number of shares subject to PSU">1,000,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98E_ecustom--MarketCapitalizationMilestone_iI_pp0p0_c20210223__us-gaap--TypeOfArrangementAxis__custom--PerformanceShareUnitAwardAgreementMember__srt--TitleOfIndividualAxis__custom--Mr.FischelMember__us-gaap--VestingAxis__custom--ShareBasedCompensationAwardTrancheSixMember_zZI1DJR6VUpa" style="text-align: right" title="Market capitalization milestone, amount">3,500,000,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center">7</td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_pid_c20210222__20210223__us-gaap--TypeOfArrangementAxis__custom--PerformanceShareUnitAwardAgreementMember__srt--TitleOfIndividualAxis__custom--Mr.FischelMember__us-gaap--VestingAxis__custom--ShareBasedCompensationAwardTrancheSevenMember_zyksbg6i3Jt3" style="text-align: right" title="Number of shares subject to PSU">1,000,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98D_ecustom--MarketCapitalizationMilestone_iI_pp0p0_c20210223__us-gaap--TypeOfArrangementAxis__custom--PerformanceShareUnitAwardAgreementMember__srt--TitleOfIndividualAxis__custom--Mr.FischelMember__us-gaap--VestingAxis__custom--ShareBasedCompensationAwardTrancheSevenMember_zeqoN4Y54Qh6" style="text-align: right" title="Market capitalization milestone, amount">4,000,000,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: center">8</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_pid_c20210222__20210223__us-gaap--TypeOfArrangementAxis__custom--PerformanceShareUnitAwardAgreementMember__srt--TitleOfIndividualAxis__custom--Mr.FischelMember__us-gaap--VestingAxis__custom--ShareBasedCompensationAwardTrancheEightMember_znj2NQE3gFpb" style="text-align: right" title="Number of shares subject to PSU">2,000,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_981_ecustom--MarketCapitalizationMilestone_iI_pp0p0_c20210223__us-gaap--TypeOfArrangementAxis__custom--PerformanceShareUnitAwardAgreementMember__srt--TitleOfIndividualAxis__custom--Mr.FischelMember__us-gaap--VestingAxis__custom--ShareBasedCompensationAwardTrancheEightMember_zZMlgC6LPzJ2" style="text-align: right" title="Market capitalization milestone, amount">4,500,000,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center">9</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_pid_c20210222__20210223__us-gaap--TypeOfArrangementAxis__custom--PerformanceShareUnitAwardAgreementMember__srt--TitleOfIndividualAxis__custom--Mr.FischelMember__us-gaap--VestingAxis__custom--ShareBasedCompensationAwardTrancheNineMember_zu1UQcTxZlAb" style="text-align: right" title="Number of shares subject to PSU">1,000,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98A_ecustom--MarketCapitalizationMilestone_iI_pp0p0_c20210223__us-gaap--TypeOfArrangementAxis__custom--PerformanceShareUnitAwardAgreementMember__srt--TitleOfIndividualAxis__custom--Mr.FischelMember__us-gaap--VestingAxis__custom--ShareBasedCompensationAwardTrancheNineMember_zjp0I7aUyYw7" style="text-align: right" title="Market capitalization milestone, amount">5,000,000,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: center">10</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_pid_c20210222__20210223__us-gaap--TypeOfArrangementAxis__custom--PerformanceShareUnitAwardAgreementMember__srt--TitleOfIndividualAxis__custom--Mr.FischelMember__us-gaap--VestingAxis__custom--ShareBasedCompensationAwardTrancheTenMember_zi72IWYHv11d" style="text-align: right" title="Number of shares subject to PSU">1,000,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98B_ecustom--MarketCapitalizationMilestone_iI_pn8p0_c20210223__us-gaap--TypeOfArrangementAxis__custom--PerformanceShareUnitAwardAgreementMember__srt--TitleOfIndividualAxis__custom--Mr.FischelMember__us-gaap--VestingAxis__custom--ShareBasedCompensationAwardTrancheTenMember_zfnb902ORE52" style="text-align: right" title="Market capitalization milestone, amount">5,500,000,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: center">Total:</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_pid_c20210222__20210223__us-gaap--TypeOfArrangementAxis__custom--PerformanceShareUnitAwardAgreementMember__srt--TitleOfIndividualAxis__custom--Mr.FischelMember_zB5lUDExCIPc" style="font-weight: bold; text-align: right" title="Number of shares subject to PSU">13,000,000</td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> </table> <p id="xdx_8A2_zOXa60MDCEif" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingRights_c20210222__20210223__srt--TitleOfIndividualAxis__custom--Mr.FischelMember__us-gaap--TypeOfArrangementAxis__custom--PerformanceShareUnitAwardAgreementMember_z5xLtUAiK2Ch" title="Award vesting rights, description">Each tranche represents a portion of the PSUs covering the number of shares outlined in the table above. Each tranche vests upon (i) satisfaction of the market capitalization milestones and (ii) continued employment as CEO of the Company from the grant date through December 31, 2030. Absent an earlier termination, the PSUs will expire on December 31, 2030. If our CEO ceases employment as CEO of the Company for any reason including death, disability, termination for cause or without cause (as defined in the award agreement), or if he voluntary terminates after service as CEO for at least five years, the remaining service period will be waived and he will retain any PSUs that have vested through the date of termination.</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company received Shareholder approval at its annual meeting on May 20, 2021, for shares to be issued under the award.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The market capitalization requirement is considered a market condition under FASB Accounting Standards Codification Topic 718 “Compensation – Stock Compensation” and is estimated on the grant date using Monte Carlo simulations. Recognition of stock-based compensation expense of all the tranches commenced on February 23, 2021, the date of grant, as the probability of meeting the ten market capitalization milestones is not considered in determining the timing of expense recognition. The expense will be recognized on an accelerated basis through 2030. Key assumptions for estimating the performance-based awards fair value at the date of grant included share price on grant date, volatility of the Company’s common stock price, risk free interest rate, and grant term.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total stock-based compensation recorded as operating expense for the CEO Performance Award was $<span id="xdx_900_eus-gaap--ShareBasedCompensation_pn5n6_c20260101__20260331__us-gaap--TypeOfArrangementAxis__custom--PerformanceShareUnitAwardAgreementMember__srt--TitleOfIndividualAxis__custom--Mr.FischelMember_zoAoIXAnYbJe" title="Stock-based compensation expense">1.5</span> million and $<span id="xdx_90E_eus-gaap--ShareBasedCompensation_pn5n6_c20250101__20250331__us-gaap--TypeOfArrangementAxis__custom--PerformanceShareUnitAwardAgreementMember__srt--TitleOfIndividualAxis__custom--Mr.FischelMember_zUyu5t9pkfT4" title="Stock-based compensation expense">1.8</span> million for the three months ended March 31, 2026, and 2025. As of March 31, 2026, and 2025, the Company had approximately $<span id="xdx_90C_eus-gaap--EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized_iI_pn5n6_c20260331__us-gaap--TypeOfArrangementAxis__custom--PerformanceShareUnitAwardAgreementMember__srt--TitleOfIndividualAxis__custom--Mr.FischelMember_zpsbLA3EkhPd" title="Unrecognized stock-based compensation expense">21.2</span> million and $<span id="xdx_902_eus-gaap--EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized_iI_pn5n6_c20250331__us-gaap--TypeOfArrangementAxis__custom--PerformanceShareUnitAwardAgreementMember__srt--TitleOfIndividualAxis__custom--Mr.FischelMember_z2vicaz4MIt2" title="Unrecognized stock-based compensation expense">28.1</span> million, respectively, of total unrecognized stock-based compensation expense remaining under the CEO Performance Award assuming the grantee’s continued employment as CEO of the Company, or in a similar capacity, through 2030. As of March 31, 2026, none of the performance milestones established by the 2021 CEO Incentive Program have been achieved, and no awards have been earned.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Stock Award Plans</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In February 2022, the Compensation Committee of the Board of Directors adopted the 2022 Stock Incentive Plan (the “Plan”) which was subsequently approved by the Company’s shareholders. This plan replaced the 2012 Stock Incentive Plan which expired on <span id="xdx_902_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardExpirationDate_dd_c20260101__20260331__us-gaap--PlanNameAxis__custom--TwoThousandTwelveStockIncentivePlanMember_zBhI3DSxSZpd" title="Stock plan expiration date">May 19, 2022</span>. The 2022 Stock Incentive Plan allows for the grant of incentive stock options, non-qualified stock options, stock appreciation rights, restricted shares and restricted share units to employees, non-employee directors, and third-party consultants.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of March 31, 2026, the Company had <span id="xdx_90D_eus-gaap--CommonStockCapitalSharesReservedForFutureIssuance_iI_pid_c20260331__us-gaap--PlanNameAxis__custom--StockAwardPlansMember_znC1A2EzYgo2" title="Common stock, shares reserved for future grants">3,747,135</span> remaining shares of the Company’s common stock to provide for current and future grants under its various equity plans.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As of March 31, 2026, the total compensation cost related to options, stock appreciation rights, and non-vested stock granted to employees and non-employees under the Company’s stock award plans but not yet recognized was approximately $<span id="xdx_901_eus-gaap--EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized_iI_pn5n6_c20260331_zqO1ECi0jQpg" title="Unrecognized stock-based compensation expense">2.0</span> million, excluding compensation not yet recognized related to the CEO Performance Award discussed above. This cost will be amortized over a period of up to four years over the underlying estimated service periods and will be adjusted for subsequent changes in actual forfeitures and anticipated vesting periods.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_89F_eus-gaap--ScheduleOfShareBasedCompensationStockOptionsAndStockAppreciationRightsAwardActivityTableTextBlock_zam1S04Onu6c" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A summary of the option and stock appreciation rights activity for the three-month period ended March 31, 2026, is as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; display: none; margin: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8BC_zryoBX8o4j57" style="display: none">Summary of Option and Stock Appreciation Rights Activity</span></span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 90%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Number of Options/SARs</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Range of Exercise Price</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Weighted Average Exercise Price per Share</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%">Outstanding, December 31, 2025</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_pid_c20260101__20260331__us-gaap--FinancialInstrumentAxis__us-gaap--StockOptionMember__us-gaap--AwardTypeAxis__us-gaap--StockAppreciationRightsSARSMember_zKPuUtmoTJhc" style="width: 14%; text-align: right" title="Number of Options/SARs, Outstanding, Beginning">4,270,381</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$<span id="xdx_908_eus-gaap--SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1_iS_pid_c20260101__20260331__us-gaap--AwardTypeAxis__us-gaap--StockAppreciationRightsSARSMember__us-gaap--FinancialInstrumentAxis__us-gaap--StockOptionMember__srt--RangeAxis__srt--MinimumMember_zuXj2K4SWXuc" title="Range of Exercise Price, Outstanding, Beginning">0.74</span> - $<span id="xdx_902_eus-gaap--SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1_iS_pid_c20260101__20260331__us-gaap--AwardTypeAxis__us-gaap--StockAppreciationRightsSARSMember__us-gaap--FinancialInstrumentAxis__us-gaap--StockOptionMember__srt--RangeAxis__srt--MaximumMember_zM9HtuDu9Ft" title="Range of Exercise Price, Outstanding, Beginning">9.20</span></span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iS_pid_c20260101__20260331__us-gaap--AwardTypeAxis__us-gaap--StockAppreciationRightsSARSMember__us-gaap--FinancialInstrumentAxis__us-gaap--StockOptionMember_z0BD3VWDeuo9" style="width: 14%; text-align: right" title="Weighted Average Exercise Price per Share, Outstanding, Beginning">3.49</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_pid_c20260101__20260331__us-gaap--AwardTypeAxis__us-gaap--StockAppreciationRightsSARSMember__us-gaap--FinancialInstrumentAxis__us-gaap--StockOptionMember_zB97XcDCjSxi" style="text-align: right" title="Number of Options/SARs, Granted">1,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"></td><td style="text-align: right">$<span id="xdx_902_ecustom--SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceGranted_pid_c20260101__20260331__us-gaap--AwardTypeAxis__us-gaap--StockAppreciationRightsSARSMember__us-gaap--FinancialInstrumentAxis__us-gaap--StockOptionMember_zIjspckU0Rm6" title="Range of Exercise Price, Granted">2.02</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_pid_c20260101__20260331__us-gaap--AwardTypeAxis__us-gaap--StockAppreciationRightsSARSMember__us-gaap--FinancialInstrumentAxis__us-gaap--StockOptionMember_zZ0HZiVi2nEb" style="text-align: right" title="Weighted Average Exercise Price per Share, Granted">2.02</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Exercised</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--StockIssuedDuringPeriodSharesStockOptionsExercised_iN_pid_di_c20260101__20260331__us-gaap--AwardTypeAxis__us-gaap--StockAppreciationRightsSARSMember__us-gaap--FinancialInstrumentAxis__us-gaap--StockOptionMember_zlJSztUJ3rGc" style="text-align: right" title="Number of Options/SARs, Exercised">(16,036</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$<span id="xdx_909_ecustom--SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceExercised_pid_c20260101__20260331__us-gaap--AwardTypeAxis__us-gaap--StockAppreciationRightsSARSMember__us-gaap--FinancialInstrumentAxis__us-gaap--StockOptionMember__srt--RangeAxis__srt--MinimumMember_zUfE398KcL6l" title="Range of Exercise Price, Exercised">0.74</span> - $<span id="xdx_901_ecustom--SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceExercised_pid_c20260101__20260331__us-gaap--AwardTypeAxis__us-gaap--StockAppreciationRightsSARSMember__us-gaap--FinancialInstrumentAxis__us-gaap--StockOptionMember__srt--RangeAxis__srt--MaximumMember_zqJETfhj2iCd" title="Range of Exercise Price, Exercised">2.03</span></span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice_pid_c20260101__20260331__us-gaap--AwardTypeAxis__us-gaap--StockAppreciationRightsSARSMember__us-gaap--FinancialInstrumentAxis__us-gaap--StockOptionMember_zAW0WCJ3eCie" style="text-align: right" title="Weighted Average Exercise Price per Share, Exercised">1.17</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Forfeited</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod_iN_pid_di_c20260101__20260331__us-gaap--AwardTypeAxis__us-gaap--StockAppreciationRightsSARSMember__us-gaap--FinancialInstrumentAxis__us-gaap--StockOptionMember_zxLZzPoWAl0b" style="border-bottom: Black 1pt solid; text-align: right" title="Number of Options/SARs, Forfeited">(152,931</td><td style="text-align: left">)</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$<span id="xdx_908_ecustom--SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceForfeited_pid_c20260101__20260331__us-gaap--AwardTypeAxis__us-gaap--StockAppreciationRightsSARSMember__us-gaap--FinancialInstrumentAxis__us-gaap--StockOptionMember__srt--RangeAxis__srt--MinimumMember_zzwujKpMScn5" title="Range of Exercise Price, Forfeited">1.53</span> - $<span id="xdx_90A_ecustom--SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceForfeited_pid_c20260101__20260331__us-gaap--AwardTypeAxis__us-gaap--StockAppreciationRightsSARSMember__us-gaap--FinancialInstrumentAxis__us-gaap--StockOptionMember__srt--RangeAxis__srt--MaximumMember_zOXmgVMrunzb" title="Range of Exercise Price, Forfeited">6.96</span></span></td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice_pid_c20260101__20260331__us-gaap--AwardTypeAxis__us-gaap--StockAppreciationRightsSARSMember__us-gaap--FinancialInstrumentAxis__us-gaap--StockOptionMember_zpNyW5fS2xek" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted Average Exercise Price per Share, Forfeited">4.02</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Outstanding, March 31, 2026</td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iE_pid_c20260101__20260331__us-gaap--AwardTypeAxis__us-gaap--StockAppreciationRightsSARSMember__us-gaap--FinancialInstrumentAxis__us-gaap--StockOptionMember_zR3B3ceY7eMh" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of Options/SARs, Outstanding, Ending">4,102,414</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$<span id="xdx_90E_eus-gaap--SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1_iE_pid_c20260101__20260331__us-gaap--AwardTypeAxis__us-gaap--StockAppreciationRightsSARSMember__us-gaap--FinancialInstrumentAxis__us-gaap--StockOptionMember__srt--RangeAxis__srt--MinimumMember_zFgxCZAu3dMg" title="Range of Exercise Price, Outstanding, Ending">0.74</span> - $<span id="xdx_908_eus-gaap--SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1_iE_pid_c20260101__20260331__us-gaap--AwardTypeAxis__us-gaap--StockAppreciationRightsSARSMember__us-gaap--FinancialInstrumentAxis__us-gaap--StockOptionMember__srt--RangeAxis__srt--MaximumMember_z0blvidny42b" title="Range of Exercise Price, Outstanding, Ending">9.20</span></span></td><td style="text-align: left"> </td><td style="font-weight: bold"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iE_pid_c20260101__20260331__us-gaap--AwardTypeAxis__us-gaap--StockAppreciationRightsSARSMember__us-gaap--FinancialInstrumentAxis__us-gaap--StockOptionMember_zl5SZPu6hN65" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Weighted Average Exercise Price per Share, Outstanding, Ending">3.48</td><td style="font-weight: bold; text-align: left"> </td></tr> </table> <p id="xdx_8A1_z5lWL1GuUpH7" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p id="xdx_898_eus-gaap--ScheduleOfShareBasedCompensationRestrictedStockUnitsAwardActivityTableTextBlock_zFATzM4Xx1f6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A summary of the restricted stock unit activity for the three-month period ended March 31, 2026, is as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; display: none; margin: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8BF_zwIxbD8Xeiz4" style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt">Schedule of Restricted Stock Unit Activity</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Number of Restricted Stock Units</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Weighted Average Grant Date Fair Value per Unit</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%">Outstanding, December 31, 2025</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iS_pid_c20260101__20260331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_z2n7RDsg9Xga" style="width: 16%; text-align: right" title="Number of Restricted Stock Units, Outstanding, Beginning">2,480,633</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iS_pid_c20260101__20260331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_z8YwePkyZlmb" style="width: 16%; text-align: right" title="Weighted Average Grant Date Fair Value per Unit, Outstanding, Beginning">2.49</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_pid_c20260101__20260331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zogs3mwia0ia" style="text-align: right" title="Number of Restricted Stock Units,Granted">281,688</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_pid_c20260101__20260331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zL7MBL1mO0vf" style="text-align: right" title="Weighted Average Grant Date Fair Value per Unit, Granted">2.13</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Vested</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_iN_pid_di_c20260101__20260331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zO2b4Yl8kxL5" style="text-align: right" title="Number of Restricted Stock Units, Vested">(115,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td id="xdx_98A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue_pid_c20260101__20260331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_z7Tr1OLivlr2" style="text-align: right" title="Weighted Average Grant Date Fair Value per Unit, Vested">2.32</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Forfeited</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod_iN_pid_di_c20260101__20260331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zQ1x2PgKxCW2" style="border-bottom: Black 1pt solid; text-align: right" title="Number of Restricted Stock Units, Forfeited">(60,000</td><td style="text-align: left">)</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td id="xdx_98F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue_pid_c20260101__20260331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_z5v7yqCNm8sd" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted Average Grant Date Fair Value per Unit, Forfeited">1.60</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Outstanding, March 31, 2026</td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iE_pid_c20260101__20260331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zmIe5R8DQ9Ca" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of Restricted Stock Units, Outstanding, Ending">2,587,321</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_982_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iE_pid_c20260101__20260331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_ziT89ObhDdYa" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted Average Grant Date Fair Value per Unit, Outstanding, Ending">2.48</td><td style="text-align: left"> </td></tr> </table> <p id="xdx_8AA_zVPmgaKXfUh4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> The holders of common stock are entitled to one vote for each share 0 50000000.0 0.030 50000000 2005308 2.39 4800000 4600000 50000000.0 12500000 2.00 4250000 7800000 5.5 7500000 2000000 4000000.0 1486620 3000000.0 1486620 4613380 417710 1001813 24000000.0 0.199 800000 500000 24000 0.001 1000 0.65 36923078 0.06 1000 0.50 P10Y 13000000 1000000000.0 500000000 5500000000 <p id="xdx_898_ecustom--SummaryofPerformanceAwardAndMarketCapitalizationMilestonesTableTextBlock_zztXARRkRgle" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> <span id="xdx_8B0_zUuqyKE6Rt6g" style="display: none">Summary of Performance Award And Market Capitalization Milestones</span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Tranche #</td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">No. of Shares Subject to PSU</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Market Capitalization Milestones⁽¹⁾</b></span></td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: center">1</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_pid_c20210222__20210223__us-gaap--TypeOfArrangementAxis__custom--PerformanceShareUnitAwardAgreementMember__srt--TitleOfIndividualAxis__custom--Mr.FischelMember__us-gaap--VestingAxis__us-gaap--ShareBasedCompensationAwardTrancheOneMember_zowDpn4b7Ukh" style="width: 16%; text-align: right" title="Number of shares subject to PSU">1,000,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_981_ecustom--MarketCapitalizationMilestone_iI_pp0p0_c20210223__us-gaap--TypeOfArrangementAxis__custom--PerformanceShareUnitAwardAgreementMember__srt--TitleOfIndividualAxis__custom--Mr.FischelMember__us-gaap--VestingAxis__us-gaap--ShareBasedCompensationAwardTrancheOneMember_z3ZjpvGjmSS4" style="width: 16%; text-align: right" title="Market capitalization milestone, amount">1,000,000,000</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: center">2</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_pid_c20210222__20210223__us-gaap--TypeOfArrangementAxis__custom--PerformanceShareUnitAwardAgreementMember__srt--TitleOfIndividualAxis__custom--Mr.FischelMember__us-gaap--VestingAxis__us-gaap--ShareBasedCompensationAwardTrancheTwoMember_zZELsJmbOmN1" style="text-align: right" title="Number of shares subject to PSU">1,500,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_985_ecustom--MarketCapitalizationMilestone_iI_pp0p0_c20210223__us-gaap--TypeOfArrangementAxis__custom--PerformanceShareUnitAwardAgreementMember__srt--TitleOfIndividualAxis__custom--Mr.FischelMember__us-gaap--VestingAxis__us-gaap--ShareBasedCompensationAwardTrancheTwoMember_zMKP0O4A5F8h" style="text-align: right" title="Market capitalization milestone, amount">1,500,000,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center">3</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_pid_c20210222__20210223__us-gaap--TypeOfArrangementAxis__custom--PerformanceShareUnitAwardAgreementMember__srt--TitleOfIndividualAxis__custom--Mr.FischelMember__us-gaap--VestingAxis__us-gaap--ShareBasedCompensationAwardTrancheThreeMember_zjWXDIcI6RXk" style="text-align: right" title="Number of shares subject to PSU">1,500,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_983_ecustom--MarketCapitalizationMilestone_iI_pp0p0_c20210223__us-gaap--TypeOfArrangementAxis__custom--PerformanceShareUnitAwardAgreementMember__srt--TitleOfIndividualAxis__custom--Mr.FischelMember__us-gaap--VestingAxis__us-gaap--ShareBasedCompensationAwardTrancheThreeMember_zjlasVThKuKj" style="text-align: right" title="Market capitalization milestone, amount">2,000,000,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: center">4</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_pid_c20210222__20210223__us-gaap--TypeOfArrangementAxis__custom--PerformanceShareUnitAwardAgreementMember__srt--TitleOfIndividualAxis__custom--Mr.FischelMember__us-gaap--VestingAxis__custom--ShareBasedCompensationAwardTrancheFourMember_zBeM6g0JV77l" style="text-align: right" title="Number of shares subject to PSU">2,000,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_988_ecustom--MarketCapitalizationMilestone_iI_pp0p0_c20210223__us-gaap--TypeOfArrangementAxis__custom--PerformanceShareUnitAwardAgreementMember__srt--TitleOfIndividualAxis__custom--Mr.FischelMember__us-gaap--VestingAxis__custom--ShareBasedCompensationAwardTrancheFourMember_zvMDQCrnshra" style="text-align: right" title="Market capitalization milestone, amount">2,500,000,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center">5</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_pid_c20210222__20210223__us-gaap--TypeOfArrangementAxis__custom--PerformanceShareUnitAwardAgreementMember__srt--TitleOfIndividualAxis__custom--Mr.FischelMember__us-gaap--VestingAxis__custom--ShareBasedCompensationAwardTrancheFiveMember_zsG26jjco02e" style="text-align: right" title="Number of shares subject to PSU">1,000,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98E_ecustom--MarketCapitalizationMilestone_iI_pp0p0_c20210223__us-gaap--TypeOfArrangementAxis__custom--PerformanceShareUnitAwardAgreementMember__srt--TitleOfIndividualAxis__custom--Mr.FischelMember__us-gaap--VestingAxis__custom--ShareBasedCompensationAwardTrancheFiveMember_z2itqkgoMRm1" style="text-align: right" title="Market capitalization milestone, amount">3,000,000,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: center">6</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_pid_c20210222__20210223__us-gaap--TypeOfArrangementAxis__custom--PerformanceShareUnitAwardAgreementMember__srt--TitleOfIndividualAxis__custom--Mr.FischelMember__us-gaap--VestingAxis__custom--ShareBasedCompensationAwardTrancheSixMember_z5D9b0V8idOb" style="text-align: right" title="Number of shares subject to PSU">1,000,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98E_ecustom--MarketCapitalizationMilestone_iI_pp0p0_c20210223__us-gaap--TypeOfArrangementAxis__custom--PerformanceShareUnitAwardAgreementMember__srt--TitleOfIndividualAxis__custom--Mr.FischelMember__us-gaap--VestingAxis__custom--ShareBasedCompensationAwardTrancheSixMember_zZI1DJR6VUpa" style="text-align: right" title="Market capitalization milestone, amount">3,500,000,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center">7</td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_pid_c20210222__20210223__us-gaap--TypeOfArrangementAxis__custom--PerformanceShareUnitAwardAgreementMember__srt--TitleOfIndividualAxis__custom--Mr.FischelMember__us-gaap--VestingAxis__custom--ShareBasedCompensationAwardTrancheSevenMember_zyksbg6i3Jt3" style="text-align: right" title="Number of shares subject to PSU">1,000,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98D_ecustom--MarketCapitalizationMilestone_iI_pp0p0_c20210223__us-gaap--TypeOfArrangementAxis__custom--PerformanceShareUnitAwardAgreementMember__srt--TitleOfIndividualAxis__custom--Mr.FischelMember__us-gaap--VestingAxis__custom--ShareBasedCompensationAwardTrancheSevenMember_zeqoN4Y54Qh6" style="text-align: right" title="Market capitalization milestone, amount">4,000,000,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: center">8</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_pid_c20210222__20210223__us-gaap--TypeOfArrangementAxis__custom--PerformanceShareUnitAwardAgreementMember__srt--TitleOfIndividualAxis__custom--Mr.FischelMember__us-gaap--VestingAxis__custom--ShareBasedCompensationAwardTrancheEightMember_znj2NQE3gFpb" style="text-align: right" title="Number of shares subject to PSU">2,000,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_981_ecustom--MarketCapitalizationMilestone_iI_pp0p0_c20210223__us-gaap--TypeOfArrangementAxis__custom--PerformanceShareUnitAwardAgreementMember__srt--TitleOfIndividualAxis__custom--Mr.FischelMember__us-gaap--VestingAxis__custom--ShareBasedCompensationAwardTrancheEightMember_zZMlgC6LPzJ2" style="text-align: right" title="Market capitalization milestone, amount">4,500,000,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center">9</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_pid_c20210222__20210223__us-gaap--TypeOfArrangementAxis__custom--PerformanceShareUnitAwardAgreementMember__srt--TitleOfIndividualAxis__custom--Mr.FischelMember__us-gaap--VestingAxis__custom--ShareBasedCompensationAwardTrancheNineMember_zu1UQcTxZlAb" style="text-align: right" title="Number of shares subject to PSU">1,000,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98A_ecustom--MarketCapitalizationMilestone_iI_pp0p0_c20210223__us-gaap--TypeOfArrangementAxis__custom--PerformanceShareUnitAwardAgreementMember__srt--TitleOfIndividualAxis__custom--Mr.FischelMember__us-gaap--VestingAxis__custom--ShareBasedCompensationAwardTrancheNineMember_zjp0I7aUyYw7" style="text-align: right" title="Market capitalization milestone, amount">5,000,000,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: center">10</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_pid_c20210222__20210223__us-gaap--TypeOfArrangementAxis__custom--PerformanceShareUnitAwardAgreementMember__srt--TitleOfIndividualAxis__custom--Mr.FischelMember__us-gaap--VestingAxis__custom--ShareBasedCompensationAwardTrancheTenMember_zi72IWYHv11d" style="text-align: right" title="Number of shares subject to PSU">1,000,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98B_ecustom--MarketCapitalizationMilestone_iI_pn8p0_c20210223__us-gaap--TypeOfArrangementAxis__custom--PerformanceShareUnitAwardAgreementMember__srt--TitleOfIndividualAxis__custom--Mr.FischelMember__us-gaap--VestingAxis__custom--ShareBasedCompensationAwardTrancheTenMember_zfnb902ORE52" style="text-align: right" title="Market capitalization milestone, amount">5,500,000,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: center">Total:</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_pid_c20210222__20210223__us-gaap--TypeOfArrangementAxis__custom--PerformanceShareUnitAwardAgreementMember__srt--TitleOfIndividualAxis__custom--Mr.FischelMember_zB5lUDExCIPc" style="font-weight: bold; text-align: right" title="Number of shares subject to PSU">13,000,000</td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> </table> 1000000 1000000000 1500000 1500000000 1500000 2000000000 2000000 2500000000 1000000 3000000000 1000000 3500000000 1000000 4000000000 2000000 4500000000 1000000 5000000000 1000000 5500000000 13000000 Each tranche represents a portion of the PSUs covering the number of shares outlined in the table above. Each tranche vests upon (i) satisfaction of the market capitalization milestones and (ii) continued employment as CEO of the Company from the grant date through December 31, 2030. Absent an earlier termination, the PSUs will expire on December 31, 2030. If our CEO ceases employment as CEO of the Company for any reason including death, disability, termination for cause or without cause (as defined in the award agreement), or if he voluntary terminates after service as CEO for at least five years, the remaining service period will be waived and he will retain any PSUs that have vested through the date of termination. 1500000 1800000 21200000 28100000 2022-05-19 3747135 2000000.0 <p id="xdx_89F_eus-gaap--ScheduleOfShareBasedCompensationStockOptionsAndStockAppreciationRightsAwardActivityTableTextBlock_zam1S04Onu6c" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A summary of the option and stock appreciation rights activity for the three-month period ended March 31, 2026, is as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; display: none; margin: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8BC_zryoBX8o4j57" style="display: none">Summary of Option and Stock Appreciation Rights Activity</span></span></span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 90%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Number of Options/SARs</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Range of Exercise Price</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Weighted Average Exercise Price per Share</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%">Outstanding, December 31, 2025</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_pid_c20260101__20260331__us-gaap--FinancialInstrumentAxis__us-gaap--StockOptionMember__us-gaap--AwardTypeAxis__us-gaap--StockAppreciationRightsSARSMember_zKPuUtmoTJhc" style="width: 14%; text-align: right" title="Number of Options/SARs, Outstanding, Beginning">4,270,381</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$<span id="xdx_908_eus-gaap--SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1_iS_pid_c20260101__20260331__us-gaap--AwardTypeAxis__us-gaap--StockAppreciationRightsSARSMember__us-gaap--FinancialInstrumentAxis__us-gaap--StockOptionMember__srt--RangeAxis__srt--MinimumMember_zuXj2K4SWXuc" title="Range of Exercise Price, Outstanding, Beginning">0.74</span> - $<span id="xdx_902_eus-gaap--SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1_iS_pid_c20260101__20260331__us-gaap--AwardTypeAxis__us-gaap--StockAppreciationRightsSARSMember__us-gaap--FinancialInstrumentAxis__us-gaap--StockOptionMember__srt--RangeAxis__srt--MaximumMember_zM9HtuDu9Ft" title="Range of Exercise Price, Outstanding, Beginning">9.20</span></span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iS_pid_c20260101__20260331__us-gaap--AwardTypeAxis__us-gaap--StockAppreciationRightsSARSMember__us-gaap--FinancialInstrumentAxis__us-gaap--StockOptionMember_z0BD3VWDeuo9" style="width: 14%; text-align: right" title="Weighted Average Exercise Price per Share, Outstanding, Beginning">3.49</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_pid_c20260101__20260331__us-gaap--AwardTypeAxis__us-gaap--StockAppreciationRightsSARSMember__us-gaap--FinancialInstrumentAxis__us-gaap--StockOptionMember_zB97XcDCjSxi" style="text-align: right" title="Number of Options/SARs, Granted">1,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"></td><td style="text-align: right">$<span id="xdx_902_ecustom--SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceGranted_pid_c20260101__20260331__us-gaap--AwardTypeAxis__us-gaap--StockAppreciationRightsSARSMember__us-gaap--FinancialInstrumentAxis__us-gaap--StockOptionMember_zIjspckU0Rm6" title="Range of Exercise Price, Granted">2.02</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_pid_c20260101__20260331__us-gaap--AwardTypeAxis__us-gaap--StockAppreciationRightsSARSMember__us-gaap--FinancialInstrumentAxis__us-gaap--StockOptionMember_zZ0HZiVi2nEb" style="text-align: right" title="Weighted Average Exercise Price per Share, Granted">2.02</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Exercised</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--StockIssuedDuringPeriodSharesStockOptionsExercised_iN_pid_di_c20260101__20260331__us-gaap--AwardTypeAxis__us-gaap--StockAppreciationRightsSARSMember__us-gaap--FinancialInstrumentAxis__us-gaap--StockOptionMember_zlJSztUJ3rGc" style="text-align: right" title="Number of Options/SARs, Exercised">(16,036</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$<span id="xdx_909_ecustom--SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceExercised_pid_c20260101__20260331__us-gaap--AwardTypeAxis__us-gaap--StockAppreciationRightsSARSMember__us-gaap--FinancialInstrumentAxis__us-gaap--StockOptionMember__srt--RangeAxis__srt--MinimumMember_zUfE398KcL6l" title="Range of Exercise Price, Exercised">0.74</span> - $<span id="xdx_901_ecustom--SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceExercised_pid_c20260101__20260331__us-gaap--AwardTypeAxis__us-gaap--StockAppreciationRightsSARSMember__us-gaap--FinancialInstrumentAxis__us-gaap--StockOptionMember__srt--RangeAxis__srt--MaximumMember_zqJETfhj2iCd" title="Range of Exercise Price, Exercised">2.03</span></span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice_pid_c20260101__20260331__us-gaap--AwardTypeAxis__us-gaap--StockAppreciationRightsSARSMember__us-gaap--FinancialInstrumentAxis__us-gaap--StockOptionMember_zAW0WCJ3eCie" style="text-align: right" title="Weighted Average Exercise Price per Share, Exercised">1.17</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Forfeited</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod_iN_pid_di_c20260101__20260331__us-gaap--AwardTypeAxis__us-gaap--StockAppreciationRightsSARSMember__us-gaap--FinancialInstrumentAxis__us-gaap--StockOptionMember_zxLZzPoWAl0b" style="border-bottom: Black 1pt solid; text-align: right" title="Number of Options/SARs, Forfeited">(152,931</td><td style="text-align: left">)</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$<span id="xdx_908_ecustom--SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceForfeited_pid_c20260101__20260331__us-gaap--AwardTypeAxis__us-gaap--StockAppreciationRightsSARSMember__us-gaap--FinancialInstrumentAxis__us-gaap--StockOptionMember__srt--RangeAxis__srt--MinimumMember_zzwujKpMScn5" title="Range of Exercise Price, Forfeited">1.53</span> - $<span id="xdx_90A_ecustom--SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceForfeited_pid_c20260101__20260331__us-gaap--AwardTypeAxis__us-gaap--StockAppreciationRightsSARSMember__us-gaap--FinancialInstrumentAxis__us-gaap--StockOptionMember__srt--RangeAxis__srt--MaximumMember_zOXmgVMrunzb" title="Range of Exercise Price, Forfeited">6.96</span></span></td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice_pid_c20260101__20260331__us-gaap--AwardTypeAxis__us-gaap--StockAppreciationRightsSARSMember__us-gaap--FinancialInstrumentAxis__us-gaap--StockOptionMember_zpNyW5fS2xek" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted Average Exercise Price per Share, Forfeited">4.02</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Outstanding, March 31, 2026</td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iE_pid_c20260101__20260331__us-gaap--AwardTypeAxis__us-gaap--StockAppreciationRightsSARSMember__us-gaap--FinancialInstrumentAxis__us-gaap--StockOptionMember_zR3B3ceY7eMh" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of Options/SARs, Outstanding, Ending">4,102,414</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$<span id="xdx_90E_eus-gaap--SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1_iE_pid_c20260101__20260331__us-gaap--AwardTypeAxis__us-gaap--StockAppreciationRightsSARSMember__us-gaap--FinancialInstrumentAxis__us-gaap--StockOptionMember__srt--RangeAxis__srt--MinimumMember_zFgxCZAu3dMg" title="Range of Exercise Price, Outstanding, Ending">0.74</span> - $<span id="xdx_908_eus-gaap--SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1_iE_pid_c20260101__20260331__us-gaap--AwardTypeAxis__us-gaap--StockAppreciationRightsSARSMember__us-gaap--FinancialInstrumentAxis__us-gaap--StockOptionMember__srt--RangeAxis__srt--MaximumMember_z0blvidny42b" title="Range of Exercise Price, Outstanding, Ending">9.20</span></span></td><td style="text-align: left"> </td><td style="font-weight: bold"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left">$</td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iE_pid_c20260101__20260331__us-gaap--AwardTypeAxis__us-gaap--StockAppreciationRightsSARSMember__us-gaap--FinancialInstrumentAxis__us-gaap--StockOptionMember_zl5SZPu6hN65" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Weighted Average Exercise Price per Share, Outstanding, Ending">3.48</td><td style="font-weight: bold; text-align: left"> </td></tr> </table> 4270381 0.74 9.20 3.49 1000 2.02 2.02 16036 0.74 2.03 1.17 152931 1.53 6.96 4.02 4102414 0.74 9.20 3.48 <p id="xdx_898_eus-gaap--ScheduleOfShareBasedCompensationRestrictedStockUnitsAwardActivityTableTextBlock_zFATzM4Xx1f6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A summary of the restricted stock unit activity for the three-month period ended March 31, 2026, is as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; display: none; margin: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_8BF_zwIxbD8Xeiz4" style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt">Schedule of Restricted Stock Unit Activity</span></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 80%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Number of Restricted Stock Units</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Weighted Average Grant Date Fair Value per Unit</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%">Outstanding, December 31, 2025</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iS_pid_c20260101__20260331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_z2n7RDsg9Xga" style="width: 16%; text-align: right" title="Number of Restricted Stock Units, Outstanding, Beginning">2,480,633</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iS_pid_c20260101__20260331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_z8YwePkyZlmb" style="width: 16%; text-align: right" title="Weighted Average Grant Date Fair Value per Unit, Outstanding, Beginning">2.49</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Granted</td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_pid_c20260101__20260331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zogs3mwia0ia" style="text-align: right" title="Number of Restricted Stock Units,Granted">281,688</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_pid_c20260101__20260331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zL7MBL1mO0vf" style="text-align: right" title="Weighted Average Grant Date Fair Value per Unit, Granted">2.13</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Vested</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_iN_pid_di_c20260101__20260331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zO2b4Yl8kxL5" style="text-align: right" title="Number of Restricted Stock Units, Vested">(115,000</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left">$</td><td id="xdx_98A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue_pid_c20260101__20260331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_z7Tr1OLivlr2" style="text-align: right" title="Weighted Average Grant Date Fair Value per Unit, Vested">2.32</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Forfeited</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod_iN_pid_di_c20260101__20260331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zQ1x2PgKxCW2" style="border-bottom: Black 1pt solid; text-align: right" title="Number of Restricted Stock Units, Forfeited">(60,000</td><td style="text-align: left">)</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td id="xdx_98F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue_pid_c20260101__20260331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_z5v7yqCNm8sd" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted Average Grant Date Fair Value per Unit, Forfeited">1.60</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Outstanding, March 31, 2026</td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iE_pid_c20260101__20260331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zmIe5R8DQ9Ca" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of Restricted Stock Units, Outstanding, Ending">2,587,321</td><td style="text-align: left"> </td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_982_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iE_pid_c20260101__20260331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_ziT89ObhDdYa" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted Average Grant Date Fair Value per Unit, Outstanding, Ending">2.48</td><td style="text-align: left"> </td></tr> </table> 2480633 2.49 281688 2.13 115000 2.32 60000 1.60 2587321 2.48 <p id="xdx_800_eus-gaap--CommitmentsAndContingenciesDisclosureTextBlock_zaRUuF2SC1Nf" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>11. <span id="xdx_825_zaownauFKoWc">Commitments and Contingencies</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company at times becomes a party to claims in the ordinary course of business. Management believes that the ultimate resolution of pending or threatened proceedings will not have a material effect on the financial position, results of operations or liquidity of the Company.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We have in place insurance coverage for litigation defense and claim settlement costs incurred in connection with these claims. We estimate the value of probable payments under these claims and probable insurance recoveries associated with existing claims based on management’s interpretations and estimates surrounding the claims and available or applicable insurance coverage.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">At March 31, 2026, Stereotaxis had $<span id="xdx_905_eus-gaap--InsuranceReceivableForMalpractice_iI_pn5n6_c20260331__us-gaap--StatementOfFinancialPositionLocationBalanceAxis__STXS--OtherCurrentAssetsMember_z0yS4FdTIrd2" title="Insurance receivables">4.3</span> million of insurance receivables recorded in other current assets and $<span id="xdx_909_eus-gaap--LossContingencyAccrualCarryingValueCurrent_iI_pn5n6_c20260331__us-gaap--StatementOfFinancialPositionLocationBalanceAxis__STXS--OtherCurrentLiabilitiesMember_zF2H4IQxLt2e" title="Legal contingencies">4.3</span> million of legal contingencies recorded in other current liabilities both related to ongoing litigation. We believe we have substantial defenses to these claims; however, the ultimate outcome of legal proceedings is inherently uncertain, and we will continue to evaluate developments and adjust our assessments as necessary.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In February 2024, a vendor filed financing statements under the Uniform Commercial Code (“UCC”) on underlying inventory for approximately $<span id="xdx_901_eus-gaap--LossContingencyDamagesSoughtValue_pn5n6_c20240201__20240229_zPkMyStIpfjk" title="Vendor proceedings on inventory">0.6</span> million. We believe the financing statements were filed without merit, and we are fully contesting the propriety of such actions.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In April 2021, the Company entered into a letter of credit pursuant to the Lease agreement totaling approximately $<span id="xdx_907_eus-gaap--LineOfCredit_iI_pn5n6_c20210430__us-gaap--CreditFacilityAxis__us-gaap--LetterOfCreditMember_zuaDppMyAijb" title="Lease, letter of credit">1.8</span> million to be delivered in four equal instalments of which the first was delivered in April 2021, the second was delivered in July 2021, the third was delivered in October 2021, and the fourth was delivered in January 2022. The amount available under this letter of credit automatically reduces by one fortieth at the end of each month during the lease term and was completed in May 2025.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> 4300000 4300000 600000 1800000 <p id="xdx_80F_eus-gaap--SubsequentEventsTextBlock_z7KI6ZYxtSx7" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>12. <span id="xdx_829_zHMsCkQXWI7d">Subsequent Events</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On April 14, 2026, the Company entered into a share sale agreement to acquire shares and other securities collectively representing <span id="xdx_905_eus-gaap--BusinessAcquisitionPercentageOfVotingInterestsAcquired_iI_pid_dp_c20260414__us-gaap--BusinessAcquisitionAxis__custom--RobocathMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zld31sTp8ED4" title="Percentage of shares to be acquired">100</span>% of the share capital and voting power of Robocath, <span id="xdx_90D_eus-gaap--BusinessCombinationContingentConsiderationArrangementsDescription_c20260414__20260414__us-gaap--BusinessAcquisitionAxis__custom--RobocathMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zJ8QpohZ5wKb" title="Business combination, contingent consideration, description">a French <i>société par actions simplifiée</i>, for $20.0 million in the form of cash, a number of shares of Stereotaxis common stock based on a value of $<span id="xdx_90C_eus-gaap--BusinessAcquisitionSharePrice_iI_pid_c20260414__us-gaap--BusinessAcquisitionAxis__custom--RobocathMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zT5f4pVR3V5h" title="Business acquisition price per share">2.00</span> per share, or a combination of cash and shares at closing</span> and, in addition, consideration contingently delivered up to $<span id="xdx_908_eus-gaap--BusinessCombinationConsiderationTransferredEquityInterestsIssuedAndIssuable_pn5n6_c20260414__20260414__us-gaap--BusinessAcquisitionAxis__custom--RobocathMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zXeW6vc8kFJf" title="Business acquisition total consideration">25.0</span> million after closing upon achieving certain key regulatory and commercial milestones. The acquisition is expected to close by the end of the third quarter of 2026 subject to customary closing conditions.</span></p> 1 a French société par actions simplifiée, for $20.0 million in the form of cash, a number of shares of Stereotaxis common stock based on a value of $2.00 per share, or a combination of cash and shares at closing 2.00 25000000.0