Stock-based compensation expense, net of forfeitures and adjustments of $0.1 million and $0.4 million for the three months ended September 30, 2026 and 2025, respectively, and $1.1 million and $0.6 million for the nine months ended September 30, 2026 and 2025, respectively, was as follows:


	Three Months Ended September 30,				Nine Months Ended September 30,
(in thousands)	2026		2025		2026		2025
Cost of sales	$	397	$	270	$	1,085	$	914
Sales and marketing	415		429		1,059		1,109
General and administrative	5,552		5,995		16,030		17,778
Research and development	1,199		1,127		3,351		3,088
Total	$	7,563	$	7,821	$	21,525	$	22,889

At September 30, 2026, the aggregate unrecognized compensation expense related to unvested equity awards was $51.1 million, which is expected to be recognized as compensation expense in fiscal years 2026 through 2029.

A summary of stock option activity for the nine months ended September 30, 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	(27)	$	6.14
Canceled/forfeited	(3)	$	22.27
Outstanding at September 30, 2026	782	$	17.93

A summary of unvested restricted stock units activity for the nine months ended September 30, 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	1,636	$	17.45
Vested	(442)	$	48.72
Canceled/forfeited	(84)	$	47.43
Outstanding at September 30, 2026	2,196	$	30.89

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 September 30, 2026, 103,725 shares of common stock were purchased under the ESPP since inception, including 40,855 shares purchased under the ESPP during the nine months ended September 30, 2026.