Stock-based compensation expense, net of forfeitures and adjustments of $0.7 million and $0.1 million for the three months ended March 31, 2026 and 2025, respectively, was as follows:


	Three Months Ended March 31,
(in thousands)	2026		2025
Cost of sales	$	312	$	290
Sales and marketing	309		326
General and administrative	5,605		5,664
Research and development	977		901
Total	$	7,203	$	7,181

At March 31, 2026, the aggregate unrecognized compensation expense related to unvested equity awards was $39.6 million, which is expected to be recognized as compensation expense in fiscal years 2026 through 2029.

A summary of stock option activity for the three months ended March 31, 2026 is below:


(in thousands, except for weighted average exercise price)	Options outstanding	Weighted average exercise price
Outstanding at January 1, 2026	812	$	17.54

Exercised	(5)	$	10.28
Canceled/forfeited	(1)	$	27.61
Outstanding at March 31, 2026	806	$	17.58

A summary of unvested restricted stock units activity for the three months ended March 31, 2026 is below:


(in thousands, except for weighted average award value)	Restricted Stock Unit Awards	Weighted average grant-date fair value
Outstanding at January 1, 2026	1,086	$	59.59
Granted	99	$	32.75
Vested	(382)	$	48.90
Canceled/forfeited	(25)	$	61.62
Outstanding at March 31, 2026	778	$	64.58

A total of 330,000 shares of Company common stock were made available for purchase under the Company's 2021 Employee Stock Purchase Plan ("ESPP"), subject to adjustment as provided for in the ESPP. As of March 31, 2026, 62,870 shares of common stock were purchased under the ESPP since inception. No shares were purchased under the ESPP during the three months ended March 31, 2026.