v3.25.2
Share-Based Compensation (Tables)
 6 Months Ended
Jun. 30, 2025
Share-Based Payment Arrangement [Abstract]  
Schedule of Weighted Average Assumptions for Options Granted
Stock Options
The Company used the following weighted average assumptions for options granted during the six months ended June 30, 2025:
Weighted Average: Six Months Ended June 30, 2025
Expected term6.4 years
Expected volatility78.0 %
Risk-free rate4.5 %
Expected dividends— %
Market Performance Stock Units
The Company used the following weighted average assumptions in the Monte Carlo model for market PSUs granted during the six months ended June 30, 2025:
Weighted Average: Six Months Ended June 30, 2025
Discount Period 7.0 years
Expected volatility76.7 %
Risk-free rate4.1 %
Size Premium 1.7 %
Cost of Equity 22.1 %
Schedule of Service Based Stock Options Activity
The following table summarizes activity of service period-based stock options during the six months ended June 30, 2025:
Weighted Average
(In thousands except per share data and remaining contractual term)Number of
Options		Exercise
Price		Remaining
Contractual
Term (Years)		Aggregate
Intrinsic
Value
Outstanding at December 31, 20249,377 $3.17 6.1$22,988 
Options Granted1,461 6.41 
Options Exercised(1,024)2.57 6,481 
Options Forfeited(322)5.74 
Outstanding at June 30, 20259,492 $3.64 6.5$102,197 *
Exercisable at June 30, 20256,165 $3.54 5.2$67,013 *
*The aggregate intrinsic values in the table above are based on the Company’s stock price of $14.41, which is the closing price of the Company’s stock on the last trading day for the period ended June 30, 2025.
Schedule of Activity of Performance Based Stock Options The following table summarizes market based stock options activity during the six months ended June 30, 2025:
 Weighted Average
(In thousands except per share data and remaining contractual term)Number of
Options		Exercise
Price		Remaining
Contractual
Term (Years)		Aggregate
Intrinsic
Value
Outstanding at December 31, 20241,000 $4.24 2.8$1,070 
Options Granted— — 
Options Exercised(1,000)4.24 $3,860 
Options Forfeited— — 
Outstanding and exercisable at June 30, 2025— $— —$— 
Schedule of Activity of Restricted Stock Units
Restricted Stock Units
The following table summarizes activity of RSUs during the six months ended June 30, 2025:
(In thousands except per share fair value)Number of RSUsWeighted Average
Fair Value
Unvested shares at December 31, 2024609 $1.64 
Granted— — 
Vested(233)1.70 
Forfeited(75)1.61 
Unvested shares at June 30, 2025301 $1.61 
The following table summarizes activity of market PSUs during the six months ended June 30, 2025:
(In thousands except per share fair value)Number of PSUsWeighted Average
Fair Value
Unvested shares at December 31, 2024— $— 
Granted1,519 3.44 
Vested— — 
Forfeited— — 
Unvested shares at June 30, 20251,519 $3.44 
Schedule of Share-Based Compensation
Total share-based compensation expense was as follows:
Three Months Ended June 30,Six Months Ended June 30,
(In thousands)2025202420252024
Share-based compensation expense
Cost of sales$67 $85 $126 $172 
Sales and marketing215 248 421 440 
Research and development149 194 272 436 
General and administrative1,057 658 1,744 1,121 
Total$1,488 $1,185 $2,563 $2,169