v3.26.1
Shareholders' Equity (Tables)
 3 Months Ended
Mar. 31, 2026
Share-Based Payment Arrangement [Abstract]  
Schedule of Stock-based Compensation Expense
The following table summarizes stock-based compensation expense for the three months ended March 31, 2026 and 2025 (in thousands):
Three Months Ended March 31,
20262025
Stock-based compensation - options$— $16 
Stock-based compensation - restricted stock units2,451 2,295 
Total$2,451 $2,311 
The following table summarizes expense associated with the PSUs for the three months ended March 31, 2026 and 2025 (in thousands):
Three Months Ended March 31,
20262025
Selling, general, and administrative$780 $411 
Schedule of Option Activity
The following table summarizes stock option activity for the three months ended March 31, 2026:
Number of options
 (000's)
Weighted average exercise price(1)
Weighted average remaining contractual life
Aggregate intrinsic value(2)
Balance December 31, 20253,538 $5.45 4.1 years$7,968 
Issued— — 
Exercised(81)6.48 
Expired / Forfeited— — 
Balance March 31, 20263,457 $5.43 3.9 years$13,121 
(1)For presentation purposes, stock options issued with a Canadian dollar exercise price have been translated to U.S. dollars based on the prevailing exchange rate on the date of grant.
(2)The aggregate intrinsic value of options outstanding represents the difference between the exercise price of the option and the closing price of the Company's common shares on the last trading day of the period ($9.21 and $7.43 on March 31, 2026 and December 31, 2025, respectively).
Schedule of Restricted Stock Units
The following table summarizes RSU activity for the three months ended March 31, 2026:
Number of RSUs (000's)Weighted average grant priceWeighted average remaining contractual life
Aggregate intrinsic value(1)
Balance December 31, 20252,134 $8.07 1.43 years$15,857 
Issued1,229 7.34 
Vested(852)8.15 
Forfeited
(6)7.48 
Balance March 31, 20262,505 $7.69 1.65 years$23,066 
(1)The aggregate intrinsic value of time-based RSUs outstanding was based on the closing price of the Company's common shares on the last trading day of the period ($9.21 and $7.43 on March 31, 2026 and December 31, 2025, respectively).
Schedule of Phantom Share Units
The following table summarizes PSU activity for the three months ended March 31, 2026:
Number of phantom share units (000's)
Value of share equivalents(1)
Balance December 31, 2025
484 $3,596 
Issued305 2,256 
Vested(211)(1,802)
Forfeited
(2)(18)
Balance March 31, 2026
576 $5,305 
(1)The value of outstanding share equivalents at the beginning of the period is based on the market price of the Company’s common shares at that time, the value of issued share equivalents is based on the market price of the Company’s common shares at issuance, the value of vested share equivalents is based on the cash paid at the time of vesting, and the values of forfeited share equivalents and outstanding share equivalents at the end of the period are based on the market price of the Company's common shares at the end of the period. The market price of the Company's common shares was $9.21 and $7.43 on March 31, 2026 and December 31, 2025, respectively.