v3.26.1
STOCKHOLDERS' EQUITY AND EQUITY-BASED COMPENSATION (Tables)
12 Months Ended
Dec. 31, 2025
Share-Based Payment Arrangement [Abstract]  
Valuation Assumptions on Market Based Performance Shares
The following table sets forth the assumptions that were used to calculate the fair value of the market-based PSU awards granted during the twelve months ended December 31, 2025, 2024 and 2023.
202520242023
Expected volatility83.3 %81.9 %89.9 %
Expected term2.792.772.83
Risk-free interest rate3.99 %3.83 %1.72 %
Expected dividend yield%%%
Schedule of ATM Agreement
For the year ended, December 31, 2025, we sold the following quantities of our common stock pursuant to the ATM Agreement for total net proceeds of approximately $5.8 million:

DateShares
Q1 Total5,618
Q2 Total118,582
Q3 Total
Q4 Total 2,105,791
Total Shares2,229,991
Nonvested Performance-Based Units Activity
Restricted and Performance Equity-Based Activity

A summary of the Company’s RSU and PSU activity for the twelve months ended December 31, 2025, 2024 and 2023 follows. For purposes of this summary, the Company assumes the market-based PSUs will be issued at 100% of the units within the range of 0% to 200%.
Unvested
Units
Weighted Average
Grant Date
Fair Value of
Units
Outstanding at December 31, 20223,526,634 $14.23 
Granted1,442,107 6.60 
Forfeitures/Cancellations(30,605)10.83 
Vestings(1,025,234)13.93 
Outstanding at December 31, 20233,912,902 14.23 
Granted1,072,444 7.66 
Forfeitures/Cancellations(2,249,555)12.65 
Vestings(1,120,408)10.62 
Outstanding at December 31, 20241,615,383 8.05 
Granted2,007,450 3.29 
Forfeitures/Cancellations(910,890)12.50 
Vestings(292,813)4.43 
Outstanding at December 31, 20252,419,130 $4.66 
Nonvested Restricted Stock Units Activity
Restricted and Performance Equity-Based Activity

A summary of the Company’s RSU and PSU activity for the twelve months ended December 31, 2025, 2024 and 2023 follows. For purposes of this summary, the Company assumes the market-based PSUs will be issued at 100% of the units within the range of 0% to 200%.
Unvested
Units
Weighted Average
Grant Date
Fair Value of
Units
Outstanding at December 31, 20223,526,634 $14.23 
Granted1,442,107 6.60 
Forfeitures/Cancellations(30,605)10.83 
Vestings(1,025,234)13.93 
Outstanding at December 31, 20233,912,902 14.23 
Granted1,072,444 7.66 
Forfeitures/Cancellations(2,249,555)12.65 
Vestings(1,120,408)10.62 
Outstanding at December 31, 20241,615,383 8.05 
Granted2,007,450 3.29 
Forfeitures/Cancellations(910,890)12.50 
Vestings(292,813)4.43 
Outstanding at December 31, 20252,419,130 $4.66