Stockholders' Equity (Tables)

9 Months Ended

Sep. 30, 2025

Stockholders' Equity Note [Abstract]

Schedule of Number of Common Stock Reserved for Future Issuance

As of September 30, 2025, and December 31, 2024, the Company had reserved common stock for future issuance as follows:


	September 30,		December 31,
	2025		2024
Conversion of outstanding warrants		102,299		102,299
Outstanding options		4,494,585		5,708,070
Outstanding RSUs		1,451,027		335,511
Shares reserved for future issuance under the Company's equity plans		5,467,523		3,964,620
Total		11,515,434		10,110,500

Schedule Of Activity Under The Plans

Activity under the 2014 Stock Incentive Plan (the “2014 Plan”), 2024 Equity Incentive Plan (the “2024 EIP”), and 2024 Incentive Award Plan (the “2024 Plan”) is as follows:


						Weighted average		Aggregate
	Number of			Weighted average		remaining contractual		intrinsic value
	options			exercise price		life (years)		(thousands)
Balance at December 31, 2024		5,708,070		$	6.60		7.71		110,063
Options granted		539,450			18.88
Options exercised		(1,088,177	)		3.85
Options forfeited		(664,758	)		9.44
Balance at September 30, 2025		4,494,585			8.28		7.41		20,904
Shares outstanding, vested, and expected to vest at September 30, 2025		4,494,585			8.28		7.41		20,904
Shares exercisable at September 30, 2025		2,630,043		$	5.52		6.63		16,545

Schedule of Restricted Stock Activity

Restricted Stock Unit activity under the plans is as follows:


	Number of shares			Weighted average grant date fair value
Unvested at December 31, 2024		335,511		$	23.53
Granted		1,429,036			17.96
Vested		(121,610	)		22.26
Cancelled		(191,910	)		19.83
Unvested at September 30, 2025		1,451,027			18.75

Schedule of Assumptions Used for Estimate of Fair Value of Options

The fair value of employee stock options granted was estimated using the following weighted-average assumptions for the three and nine months ended September 30, 2025 and 2024:


	Three months ended September 30,				Nine months ended September 30,
	2025	2024			2025			2024
Expected term (in years)	*		5.5			5.0			5.4
Expected volatility	*		63.4	%		61.1	%		68.3	%
Risk-free interest rate	*		3.8	%		3.9	%		4.1	%
Dividend yield	*	—			—			—

*There were no options granted for the three months ended September 30, 2025.

Schedule Of Total Stock Based Compensation Expense

The Company’s total stock-based compensation expense was as follows (in thousands):


	Three months ended September 30,				Nine months ended September 30,
	2025		2024		2025		2024
Cost of revenue	$	95	$	—	$	222	$	—
Research and development		552		189		1,489		478
Sales and marketing		1,336		395		3,316		837
General and administrative		1,366		792		3,837		1,894
Total stock-based compensation expense	$	3,349	$	1,376	$	8,864	$	3,209

Ceribell, Inc. 10-Q