v3.25.4
Stock-based Compensation (Tables)
12 Months Ended
Dec. 31, 2025
Share-Based Payment Arrangement [Abstract]  
Schedule of Class P Unit Activities
A summary of the Class P Unit activity for the periods presented is as follows:
Number of Units
Outstanding Class P Units, December 31, 202414,403,732
Cancellations— 
Exchanged for Class A Common Stock(600,000)
Outstanding Class P Units, December 31, 202513,803,732
Vested, December 31, 202513,803,732
Schedule of Restricted Stock Units Activity
A summary of the restricted stock unit (“RSU”) activity for the year ended December 31, 2025 is as follows:
Number of RSUsWeighted-average Grant Date Fair Value
Non-vested at December 31, 20247,946,908$1.46 
Granted4,963,6351.26 
Vested(4,183,252)1.84 
Cancelled/Forfeited/Expired(811,325)1.94 
Non-vested at December 31, 20257,915,966$1.08 
Schedule of Valuation Assumptions
The following table summarizes the key assumptions used in estimating the value of the PRSUs granted in November 2024.
Grant Date
November 07, 2024
Performance period
November 07, 2024 - December 31, 2027
PRSUs Granted
4,342,391
Grant Date Stock Price
$0.77
Risk-Free Rate at Valuation Date
4.05%
Cost of Equity
18.00%
Estimated Volatility at Valuation Date
85.61%
Schedule of Performance Shares Activity
A summary of the PRSU activity for the year ended December 31, 2025 is as follows:
Number of PRSUsWeighted-average Grant Date Fair Value
Non-vested at December 31, 20244,342,3910.38 
Granted— — 
Vested— — 
Cancelled/Forfeited/Expired— — 
Non-vested at December 31, 20254,342,3910.38 
Schedule of Stock-based Payment Arrangement
The Company recorded stock-based compensation cost related to the RSUs, PRSUs and Class P Units in the following expense categories on the consolidated statements of operations (in thousands):

Years Ended December 31,
20252024
Sales and marketing$762 $1,439 
Product development2,065 3,516 
General and administrative4,949 4,266 
Total stock-based compensation expense7,776 9,221 
Amount capitalized to software development711 1,066 
Total stock-based compensation cost$8,487 $10,287