Stock-Based Compensation Expense (Tables)

12 Months Ended

Dec. 31, 2025

Share-Based Payment Arrangement [Abstract]

Summary of the Status and Changes in Stock Option Activities

A summary of the stock option activities related to the Plans, as of and for the year ended December 31, 2025 and 2024 is presented below:


	Number of Options			Weighted Average Exercise Price		Weighted Average Grant Date Fair Value		Weighted Avg Remaining Contractual Life (Years)
Options outstanding as of December 31, 2024		5,906,298		$	22.07				6.92
Granted		1,512,182			24.64	$	15.26
Exercised		(432,468	)		6.32		3.43
Forfeited		(249,907	)		27.58		22.17
Expired		(179,377	)		17.57
Options outstanding as of December 31, 2025		6,556,728			23.60				6.80
Exercisable as of December 31, 2025		4,248,916		$	19.89				5.83

During the years ended December 31, 2025, 2024 and 2023, the intrinsic value of options vested was $0.8 million, $69.3 million and $121.3 million, respectively, and of all options outstanding was $1.2 million, $94.4 million and $185.0 million, respectively. During the years ended December 31, 2025, 2024 and 2023, the total cash received from the exercise of stock options was $2.7 million, $19.2 million and $8.4 million, respectively. As of the years ended December 31, 2025, 2024 and 2023, the total fair value less strike price of these options was $4.7 million, $80.1 million and $13.7 million, respectively.

Summary of Non-Vested Restricted Stock Unit Activities

A summary of restricted stock unit activities for the year ended December 31, 2025 and 2024 is presented below:


				Weighted
				Average
	Number of			Grant Date
	Shares			Fair Value
Unvested at December 31, 2024		585,458		$	30.64
Granted		720,278			21.53
Vested		(380,375	)		24.55
Forfeited		(112,162	)		27.68
Unvested at December 31, 2025		813,199		$	25.83

Schedule of Stock-Based Compensation Expense

Stock-based compensation expense was classified in the accompanying consolidated statements of operations and comprehensive income (loss) as follows (in thousands):


	Twelve Months Ended December 31,
	2025		2024		2023
Research and development	$	8,051	$	5,871	$	3,963
Selling, general and administrative		20,858		16,710		10,609
Cost of sales		2,703		2,054		1,174
	$	31,612	$	24,635	$	15,746

Schedule of Range and Weighted-average Assumptions Used in Black-Scholes Option Pricing Model to Determine the Fair Value of Stock Options

The following table presents the range and weighted-average assumptions, used in the Black-Scholes option pricing model to determine the fair value of stock options:


	Twelve Months Ended December 31,
	2025		2024		2023
	Range	Weighted Average	Range	Weighted Average	Range	Weighted Average
Expected volatility	52.0% to 74.0%	66.4%	66.0% to 72.0%	70.3%	64.9% to 68.6%	64.9%
Risk-free interest rate	3.7% to 4.8%	4.1%	3.5% to 4.7%	4.1%	3.4% to 4.8%	4.1%
Expected life (in years)	5.5 to 6.1 years	6.0 years	5.5 to 6.1 years	6.0 years	5.5 to 6.1 years	6.0 years
Expected dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Grant date fair value	$7.19 to $33.87	$26.80	$36.89 to $60.65	$53.12	$12.91 to $39.71	$17.60

RxSight, Inc. 10-K