Quarterly report [Sections 13 or 15(d)]

Equity Compensation (Tables)

v3.25.3
Equity Compensation (Tables)
 9 Months Ended
Sep. 30, 2025
Share-Based Payment Arrangement [Abstract]  
Summary of Restricted Stock Units Activity The following table summarizes aggregate activity for RSUs for the nine months ended September 30, 2025:

 

 

 

Shares

 

 

Weighted Average
Grant Date Fair
Value per Share

 

Outstanding at December 31, 2024

 

 

2,137

 

 

$

14.38

 

Issued

 

 

1,470

 

 

$

9.16

 

Vested

 

 

(693

)

 

$

14.94

 

Forfeited, expired, or canceled

 

 

(756

)

 

$

14.92

 

Outstanding at September 30, 2025

 

 

2,158

 

 

$

10.37

 
Summary of Monte Carlo Simulation Assumptions

The Monte Carlo simulation assumptions used for the period presented were as follows:

 

 

 

Nine Months Ended September 30,

 

 

2025

Risk free interest rate

 

 

3.7

 

%

Expected volatility

 

 

85.0

 

%

Dividend yield

 

 

—

 

%

Expected term (in years)

 

 

3.0

 

 
Summary of Stock-Based Compensation Expense Aggregate stock-based compensation expense recognized in the condensed consolidated statements of operations was as follows:

 

 

 

Three months ended September 30,

 

 

Nine Months Ended September 30,

 

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Selling, general and administrative

 

$

2,394

 

 

$

4,983

 

 

$

8,341

 

 

$

13,121

 

Total stock-based compensation expense, before tax

 

 

2,394

 

 

 

4,983

 

 

 

8,341

 

 

 

13,121

 

Income tax expense

 

 

(232

)

 

 

—

 

 

 

—

 

 

 

—

 

Total stock-based compensation expense, after tax

 

$

2,626

 

 

$

4,983

 

 

$

8,341

 

 

$

13,121