v3.25.2
Stock-Based Compensation (Tables)
 6 Months Ended
Jun. 30, 2025
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Summary of Stock Option Activity

Activity with respect to stock options is summarized as follows:

 

 

Shares

 

 

Weighted-Average
Exercise
Price

 

 

Weighted-
Average
Remaining
Contractual
Term (years)

 

 

Aggregate
Intrinsic Value
(in thousands)

 

Options outstanding, January 1, 2025

 

 

558,379

 

 

$

16.92

 

 

 

5.6

 

 

$

39,085

 

Granted

 

 

-

 

 

$

-

 

 

 

 

 

 

 

Exercised

 

 

(103,847

)

 

$

6.96

 

 

 

 

 

 

 

Forfeited

 

 

-

 

 

$

-

 

 

 

 

 

 

 

Expired

 

 

(798

)

 

$

22.21

 

 

 

 

 

 

 

Options outstanding, June 30, 2025

 

 

453,734

 

 

$

19.19

 

 

 

5.4

 

 

 

112,912

 

Nonvested options, June 30, 2025

 

 

239,355

 

 

$

23.16

 

 

 

5.7

 

 

 

58,537

 

Vested and exercisable, June 30, 2025

 

 

214,379

 

 

$

14.77

 

 

 

5.1

 

 

 

54,374

 

 
Summary of Assumptions in the Binomial Option-Pricing Model Used to Determine The Fair Value of Stock Options

The following table presents the key inputs and assumptions used to value the RSUs that contain service and market conditions on the grant date:

 

Remaining term

 

5.0 years

 

Risk-free interest rate

 

 

3.5

%

Expected volatility

 

 

79.7

%
Performance-Based Restricted Stock Units [Member]  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Summary of Restricted Stock Activity

Activity with respect to Performance-Based RSUs is summarized as follows:

 

 

 

Shares

 

 

Weighted-Average
Grant-Date
Fair Value

 

 Outstanding shares at January 1, 2025

 

 

338,052

 

 

$

34.26

 

Granted

 

 

181,610

 

 

 

89.76

 

Vested and Released

 

 

(210,453

)

 

 

34.48

 

Forfeited

 

 

(21,142

)

 

 

63.19

 

 Outstanding shares at June 30, 2025

 

 

288,067

 

 

 

66.97

 

 

 

 

 

 

 

 
October 2023 [Member]  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Summary of Assumptions in the Binomial Option-Pricing Model Used to Determine The Fair Value of Stock Options

The following table presents the key inputs and assumptions used to value the RSUs granted during October 2023 that contain service and market conditions on the grant date:

Remaining term

 

4.2 years

 

Risk-free interest rate

 

 

4.9

%

Expected volatility

 

 

87.6

%
June 2024 [Member]  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Summary of Assumptions in the Binomial Option-Pricing Model Used to Determine The Fair Value of Stock Options

The following table presents the key inputs and assumptions used to value the RSUs modified during the quarter ended June 30, 2024:

 

Remaining term

 

3.7 years

 

Risk-free interest rate

 

 

4.7

%

Expected volatility

 

 

71.7

%
Chief Executive Officer [Member]  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Summary of Assumptions in the Binomial Option-Pricing Model Used to Determine The Fair Value of Stock Options

The following table presents the key inputs and assumptions used to value the options granted to the Chief Executive Officer on the grant date:

Remaining term

 

10.0 years

 

Risk-free interest rate

 

 

1.5

%

Expected dividend yield

 

 

0.0

%

Expected volatility

 

 

40.0

%
Summary of Restricted Stock Activity

Activity with respect to RSUs is summarized as follows:

 

 

 

Shares

 

 

Weighted-Average
Grant-Date
Fair Value

 

 Outstanding shares at January 1, 2025

 

 

1,200,868

 

 

$

27.21

 

Granted

 

 

209,530

 

 

$

85.90

 

Vested and Released

 

 

(380,493

)

 

$

42.22

 

Forfeited

 

 

(85,870

)

 

$

25.39

 

 Outstanding shares at June 30, 2025

 

 

944,035

 

 

$

39.83