v3.26.1
Share-Based Compensation Expense (Tables)
12 Months Ended
Dec. 31, 2025
Share-Based Payment Arrangement [Abstract]  
Schedule of stock option award activity
The Company grants stock options to certain employees that will vest over a period of one to four years. A summary of stock option award activity for the years ended December 31, 2025 and 2024 was as follows:
Options
Shares
Weighted Average
Exercise Price
Weighted Average Remaining Contractual Term
Outstanding at December 31, 2023
193,156 $17.89 5.8
Granted295,229 3.75 
Exercised— — 
Cancelled or forfeited— — 
Outstanding at December 31, 2024
488,385 $9.34 7.5
Granted— — 
Exercised(1,562)1.92 
Cancelled or forfeited(2,053)24.38 
Outstanding at December 31, 2025
484,770 $9.30 6.5
Exercisable at December 31, 2025
263,348 $13.97 5.0
Schedule of fair value of stock options assumptions
The fair value of stock options granted during the year ended December 31, 2024 was measured with the following assumptions:
2024
Expected volatility
71.3%- 78.4%
Expected term (in years)10
Risk-free interest rate4.5 %
Expected dividend yield0.0 %
Schedule of fair value of restricted stock awards Restricted stock units activity during the years ended December 31, 2025 and 2024 was as follows:
Number of
Shares
Weighted Average Grant Date Fair Value Per Share
Non-vested, at December 31, 2023
1,102,095 $7.74 
Granted2,125,297 3.44 
Vested(310,076)6.65 
Cancelled or forfeited(683,500)5.16 
Non-vested, at December 31, 2024
2,233,816 $4.60 
Granted3,178,940 1.80 
Vested(636,428)4.13 
Cancelled or forfeited(1,101,826)4.15 
Non-vested, at December 31, 2025
3,674,502 $2.39 
Share-based payment arrangement, restricted stock unit, activity
The fair value and derived service period of each tranche was as follows:
Stock Price TrancheFair ValueDerived Service Period (in years)
$25.84$8.881.72
42.968.482.71
60.008.243.30
77.127.923.70
94.167.764.11
111.287.524.42
128.327.284.64
145.447.124.78
162.486.965.00
179.606.805.10