Stock-based compensation (Tables)
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6 Months Ended |
Jun. 30, 2025 |
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| Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
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| Summary of stock-based compensation expense |
| | | | | | | | | | | | | | | Three Months Ended | | Six Months Ended | | | June 30, | | June 30, | (in USD thousands) | | 2025 | | 2024 | | 2025 | | 2024 | Stock options | | $ | 3,063 | | $ | 676 | | $ | 3,243 | | $ | 1,625 | Restricted stock units | | | 2,072 | | | 4,171 | | | 3,365 | | | 7,569 | Performance stock units | | | 2,505 | | | 2,163 | | | 4,825 | | | 2,290 | Total stock-based compensation | | $ | 7,640 | | $ | 7,010 | | $ | 11,433 | | $ | 11,484 |
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| Summary of the activity of the deferred stock units |
| | | | | | | | | | | | | Weighted average | | | | | Number of | | grant-date | | Aggregate | (in USD thousands, except share and per share amounts) | | units | | fair value | | intrinsic value | Vested and outstanding as of December 31, 2024 | | 73,954 | | $ | 9.72 | | $ | 1,515 | Vested and outstanding as of June 30, 2025 | | 73,954 | | $ | 9.72 | | $ | 1,376 |
| | | | | | | | | | | | | Weighted average | | | | | Number of | | grant-date | | Aggregate | (in USD thousands, except share and per share amounts) | | units | | fair value | | intrinsic value | Vested and outstanding as of December 31, 2023 | | 91,804 | | $ | 9.73 | | $ | 1,225 | Redeemed | | (17,850) | | | 9.78 | | | 224 | Vested and outstanding as of June 30, 2024 | | 73,954 | | $ | 9.72 | | $ | 1,109 |
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| Employee Stock Option |
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| Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
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| Summary of assumptions used in determining the fair value of stock options |
| | | | | | Six Months Ended | | | | June 30, | | | | 2025 | | Dividend yield | | — | % | Expected price volatility | | 120.00 | % | Risk-free interest rate | | 4.05 | % | Expected term (in years) | | 6.0 | |
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| Summary of stock options activity |
A summary of stock options for the six months ended June 30, 2025 and June 30, 2024 is as follows: | | | | | | | | | | | | | | | | | | | Weighted | | | | | Weighted average | | | | | average remaining | | | Number of | | exercise price | | Aggregate | | contractual life | (in USD thousands, except share and per share amounts) | | shares | | (per share) | | intrinsic value | | (in years) | Outstanding as of December 31, 2024 | | 2,961,929 | | $ | 0.53 | | $ | 59,120 | | 7.7 | Granted | | 1,000,000 | | | 15.00 | | | | | | Exercised | | (355,363) | | | 0.39 | | | 4,622 | | | Forfeited, canceled, or expired | | (68,093) | | | 0.39 | | | | | | Outstanding as of June 30, 2025 | | 3,538,473 | | $ | 4.64 | | $ | 49,411 | | 6.8 | Vested and exercisable as of June 30, 2025 | | 1,897,513 | | $ | 0.61 | | $ | 34,139 | | 7.2 |
| | | | | | | | | | | | | | | | | | | Weighted | | | | | Weighted average | | | | | average remaining | | | Number of | | exercise price | | Aggregate | | contractual life | (in USD thousands, except share and per share amounts) | | shares | | (per share) | | intrinsic value | | (in years) | Outstanding as of December 31, 2023 | | 4,513,375 | | $ | 0.48 | | $ | 58,150 | | 8.8 | Granted | | — | | | — | | | | | | Exercised | | (1,063,417) | | | 0.39 | | | 8,957 | | | Forfeited or canceled | | (59,044) | | | 0.39 | | | | | | Outstanding as of June 30, 2024 | | 3,390,914 | | $ | 0.51 | | $ | 49,172 | | 8.2 | Vested and exercisable as of June 30, 2024 | | 1,399,128 | | $ | 0.69 | | $ | 20,091 | | 8.0 |
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| Restricted stock units |
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| Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
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| Summary of the activity of the service-based restricted stock units |
| | | | | | | | | | | | | Weighted average | | | | | Number of | | grant-date | | Aggregate | (in USD thousands, except share and per share amounts) | | units | | fair value | | intrinsic value | Unvested as of December 31, 2024 | | 1,141,453 | | $ | 10.62 | | $ | 23,388 | Granted | | 495,540 | | | 12.64 | | | | Vested | | (379,733) | | | 9.91 | | | 5,873 | Forfeited | | (154,934) | | | 13.04 | | | | Unvested as of June 30, 2025 | | 1,102,326 | | $ | 11.43 | | | 20,503 |
| | | | | | | | | | | | | Weighted average | | | | | Number of | | grant-date | | Aggregate | (in USD thousands, except share and per share amounts) | | units | | fair value | | intrinsic value | Unvested as of December 31, 2023 | | 1,554,347 | | $ | 10.36 | | $ | 20,735 | Granted | | 660,991 | | | 8.35 | | | | Vested | | (905,221) | | | 9.60 | | | 8,205 | Forfeited | | (59,428) | | | 12.05 | | | | Unvested as of June 30, 2024 | | 1,250,689 | | $ | 9.77 | | $ | 18,748 |
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| Performance stock units |
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| Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
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| Summary of assumptions used to determine the grant-date fair value of performance stock units with a market condition |
| | | | | | Six Months Ended | | | | June 30, | | | | 2024 | | Dividend yield | | — | % | Expected price volatility | | 115 | % | Risk-free interest rate | | 4.38 – 4.84 | % | Expected term (in years) | | 2.9 – 3.0 | |
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| Summary of stock activity |
| | | | | | | | | | | | | Weighted average | | | | | Number of | | grant-date | | Aggregate | (in USD thousands, except share and per share amounts) | | units | | fair value | | intrinsic value | Unvested as of December 31, 2024 | | 1,602,609 | | $ | 17.56 | | $ | 65,675 | Granted | | 1,114,060 | | | 17.69 | | | | Forfeited | | (48,517) | | | 12.37 | | | | Unvested as of June 30, 2025 | | 2,668,152 | | $ | 17.71 | | $ | 75,086 |
| | | | | | | | | | | | | Weighted average | | | | | Number of | | grant-date | | Aggregate | (in USD thousands, except share and per share amounts) | | units | | fair value | | intrinsic value | Unvested as of December 31, 2023 | | — | | $ | — | | $ | — | Granted | | 1,552,432 | | | 17.24 | | | | Unvested as of June 30, 2024 | | 1,552,432 | | $ | 17.24 | | $ | 46,542 |
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