Pay vs Performance Disclosure - USD ($)
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12 Months Ended |
36 Months Ended |
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2025 |
| Pay vs Performance Disclosure |
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| Pay vs Performance Disclosure, Table |
PAY VERSUS PERFORMANCE
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Summary Compensation Table (“SCT”) Total for Principal Executive Officer (“PEO”) (1) |
Compensation Actually Paid (“CAP”) to PEO (2) |
Average SCT Total for Non-PEO NEOs (3) |
CAP for Non-PEO NEOs (4) |
Value of Fixed $100 Investment Based on Total Shareholder Return (“TSR”) |
Net Income (Loss) (in thousands) |
| 2025 |
$10,637,821 |
$17,379,663 |
$2,323,094 |
$4,870,270 |
$3,838.92 |
$(13,717) |
| 2024 |
$1,144,480 |
$2,356,913 |
$437,478 |
$1,440,152 |
$185.65 |
$(15,586) |
| 2023 |
$1,778,667 |
$(166,177) |
$879,812 |
$13,507 |
$14.35 |
$(8,402) |
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(1) |
The dollar amounts reported represent the amount of total compensation reported for our Chief Executive Officer Chandler D. Robinson for each corresponding covered fiscal year in the “Total” column of the Summary Compensation Table. |
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(2) |
The CAP to our PEO in the table below reflects the adjustments required by applicable SEC rules from total compensation reported in the SCT.
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(3) |
The dollar amounts reported represent the average of the amounts of total compensation reported for our NEOs as a group (excluding our PEO) for each covered fiscal year in the “Total” column of the SCT. The NEOs (excluding our PEO) for fiscal year 2025 is Quan Vu from March 3, 2025, through December 31, 2025. The NEOs (excluding our PEO) for fiscal year 2024 are Karthik Radhakrishnan from July 1, 2024, through December 31, 2024, and Andrew Cittadine. The NEOs (excluding our PEO) for fiscal year 2023 are Kim R. Tsuchimoto and Andrew Cittadine. |
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(4) |
The CAP to our NEOs on average in the table below reflects the adjustments required by applicable SEC rules from total compensation reported in the SCT. |
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| PEO Total Compensation Amount |
$ 10,637,821
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$ 1,144,480
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$ 1,778,667
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| PEO Actually Paid Compensation Amount |
$ 17,379,663
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2,356,913
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(166,177)
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| Adjustment To PEO Compensation, Footnote |
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2025 |
2024 |
2023 |
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PEO |
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Average Non-PEO NEOs |
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PEO |
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Average Non-PEO NEOs |
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PEO |
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Average Non-PEO NEOs |
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| Total compensation in SCT |
10,637,821 |
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2,323,094 |
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1,144,480 |
|
437,478 |
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1,778,667 |
|
879,812 |
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| Subtract grant date fair value of awards granted during covered year and shown in SCT |
(8,967,821) |
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(1,754,226) |
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- |
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(43,070) |
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(1,068,167) |
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(494,461) |
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| Add the fair value as of the end of the covered year of all awards granted during the covered fiscal year that were outstanding and unvested as of the end of the covered fiscal year |
11,409,695 |
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2,350,590 |
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- |
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229,272 |
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86,418 |
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40,003 |
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| Add the amount equal to the change as of the end of the covered year (from the end of the prior year) in fair value (whether positive or negative) of any awards granted in any prior fiscal year that were outstanding and unvested as of the end of the covered year |
798,444 |
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168,908 |
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1,036,489 |
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248,198 |
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(400,876) |
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(191,639) |
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| Add, for awards that are granted and vest in the same covered year, the fair value as of the vesting date |
2,326,874 |
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429,511 |
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33,486 |
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57,268 |
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26,510 |
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| Add the amount equal to the change as of the vesting date (from the end of the prior year) in fair value (whether positive or negative) of any awards granted in any prior year for which all applicable vesting conditions were satisfied at the end of or during the covered year |
1,174,649 |
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200,595 |
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260,850 |
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53,751 |
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(151,818) |
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(48,989) |
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| Subtract, for any awards granted in any prior year that fail to meet the applicable vesting conditions during the covered year, the amount equal to the fair value at the end of the prior fiscal year |
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(121,789) |
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(84,907) |
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(20,300) |
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(467,669) |
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(197,729) |
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| Total Adjustment |
$6,741,843 |
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$1,273,588 |
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$1,212,433 |
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$501,337 |
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$(1,944,844) |
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$(866,305) |
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| Non-PEO NEO Average Total Compensation Amount |
$ 2,323,094
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437,478
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879,812
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| Non-PEO NEO Average Compensation Actually Paid Amount |
$ 4,870,270
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1,440,152
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13,507
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| Adjustment to Non-PEO NEO Compensation Footnote |
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2025 |
2024 |
2023 |
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PEO |
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Average Non-PEO NEOs |
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PEO |
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Average Non-PEO NEOs |
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PEO |
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Average Non-PEO NEOs |
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| Total compensation in SCT |
10,637,821 |
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2,323,094 |
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1,144,480 |
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437,478 |
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1,778,667 |
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879,812 |
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| Subtract grant date fair value of awards granted during covered year and shown in SCT |
(8,967,821) |
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(1,754,226) |
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- |
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(43,070) |
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(1,068,167) |
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(494,461) |
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| Add the fair value as of the end of the covered year of all awards granted during the covered fiscal year that were outstanding and unvested as of the end of the covered fiscal year |
11,409,695 |
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2,350,590 |
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- |
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229,272 |
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86,418 |
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40,003 |
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| Add the amount equal to the change as of the end of the covered year (from the end of the prior year) in fair value (whether positive or negative) of any awards granted in any prior fiscal year that were outstanding and unvested as of the end of the covered year |
798,444 |
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168,908 |
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1,036,489 |
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248,198 |
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(400,876) |
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(191,639) |
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| Add, for awards that are granted and vest in the same covered year, the fair value as of the vesting date |
2,326,874 |
|
429,511 |
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- |
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33,486 |
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57,268 |
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26,510 |
|
| Add the amount equal to the change as of the vesting date (from the end of the prior year) in fair value (whether positive or negative) of any awards granted in any prior year for which all applicable vesting conditions were satisfied at the end of or during the covered year |
1,174,649 |
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200,595 |
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260,850 |
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53,751 |
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(151,818) |
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(48,989) |
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| Subtract, for any awards granted in any prior year that fail to meet the applicable vesting conditions during the covered year, the amount equal to the fair value at the end of the prior fiscal year |
- |
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(121,789) |
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(84,907) |
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(20,300) |
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(467,669) |
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(197,729) |
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| Total Adjustment |
$6,741,843 |
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$1,273,588 |
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$1,212,433 |
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$501,337 |
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$(1,944,844) |
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$(866,305) |
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| Compensation Actually Paid vs. Total Shareholder Return |
CAP versus Company Total Shareholder Return
As shown in the chart above, the Company’s TSR in 2025 was $3,838.92 based on a $100 initial fixed investment and the PEO CAP was $17.4 million. The 2025 non-PEO CAP was $4.9 million. The Company’s TSR in 2024 was $185.65 based on a $100 initial fixed investment and the PEO CAP was $2.4 million. The 2024 non-PEO CAP was $1.4 million. The Company’s TSR in 2023 was $14.35 based on a $100 initial fixed investment and the PEO CAP was $(0.2) million. The 2023 non-PEO CAP was $0.01 million. The Company does not use TSR as a primary metric to determine compensation levels or incentive plan payout.
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| Compensation Actually Paid vs. Net Income |
Compensation Actually Paid versus Company Net Income
As shown in the chart above, the Company’s net loss in 2025 was $13.7 million and the PEO CAP was $17.4 million. The 2025 non-PEO CAP was $4.9 million. The Company’s net loss in 2024 was $15.6 million and the PEO CAP was $2.4 million. The 2024 non-PEO CAP was $1.4 million. The Company’s net loss in 2023 was $8.4 million and the PEO CAP was $(0.2) million. The 2023 non-PEO CAP was $0.01 million. The Company does not use net income/loss as a primary metric to determine compensation levels or incentive plan payout.
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| Total Shareholder Return Amount |
$ 3,838.92
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185.65
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14.35
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| Net Income (Loss) |
(13,717,000)
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(15,586,000)
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(8,402,000)
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| PEO Name |
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Chandler D. Robinson
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| PEO |
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| Pay vs Performance Disclosure |
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| Adjustment to Compensation, Amount |
6,741,843
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1,212,433
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(1,944,844)
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| PEO | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table |
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| Pay vs Performance Disclosure |
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| Adjustment to Compensation, Amount |
(8,967,821)
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0
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(1,068,167)
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| PEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested |
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| Pay vs Performance Disclosure |
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| Adjustment to Compensation, Amount |
11,409,695
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0
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86,418
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| PEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested |
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| Pay vs Performance Disclosure |
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| Adjustment to Compensation, Amount |
798,444
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1,036,489
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(400,876)
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| PEO | Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year |
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| Pay vs Performance Disclosure |
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| Adjustment to Compensation, Amount |
2,326,874
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0
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57,268
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| PEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year |
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| Pay vs Performance Disclosure |
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| Adjustment to Compensation, Amount |
1,174,649
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260,850
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(151,818)
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| PEO | Prior Year End Fair Value of Equity Awards Granted in Any Prior Year that Fail to Meet Applicable Vesting Conditions During Covered Year |
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| Pay vs Performance Disclosure |
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| Adjustment to Compensation, Amount |
0
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(84,907)
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(467,669)
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| Non-PEO NEO |
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| Pay vs Performance Disclosure |
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| Adjustment to Compensation, Amount |
1,273,588
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501,337
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(866,305)
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| Non-PEO NEO | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table |
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| Pay vs Performance Disclosure |
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| Adjustment to Compensation, Amount |
(1,754,226)
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(43,070)
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(494,461)
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| Non-PEO NEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested |
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| Pay vs Performance Disclosure |
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| Adjustment to Compensation, Amount |
2,350,590
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229,272
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40,003
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| Non-PEO NEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested |
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| Pay vs Performance Disclosure |
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| Adjustment to Compensation, Amount |
168,908
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248,198
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(191,639)
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| Non-PEO NEO | Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year |
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| Pay vs Performance Disclosure |
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| Adjustment to Compensation, Amount |
429,511
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33,486
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26,510
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| Non-PEO NEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year |
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| Pay vs Performance Disclosure |
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| Adjustment to Compensation, Amount |
200,595
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53,751
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(48,989)
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| Non-PEO NEO | Prior Year End Fair Value of Equity Awards Granted in Any Prior Year that Fail to Meet Applicable Vesting Conditions During Covered Year |
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| Pay vs Performance Disclosure |
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| Adjustment to Compensation, Amount |
$ (121,789)
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$ (20,300)
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$ (197,729)
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