Stock-based Compensation (Tables)
|
3 Months Ended |
Mar. 31, 2026 |
|---|
| Share-Based Payment Arrangement [Abstract] |
|
| Schedule of Class P Unit Activities |
A summary of the Class P Unit activity for the three months ended March 31, 2026 is as follows: | | | | | | | | | | | Number of Units | | Outstanding Class P Units, December 31, 2025 | | 13,803,732 | | | Cancellations | | — | | | Exchanged for Class A Common Stock | | — | | | Outstanding, Class P Units, March 31, 2026 | | 13,803,732 | | | Vested, March 31, 2026 | | 13,803,732 |
|
| Schedule of Restricted Stock Units Activity |
A summary of the restricted stock unit (“RSU”) activity for the three months ended March 31, 2026 is as follows: | | | | | | | | | | | | | | | | | Number of RSUs | | Weighted-average Grant Date Fair Value | Non-vested at December 31, 2025 | | 7,915,966 | | | $ | 1.08 | | | Granted | | 1,938,835 | | $ | 0.77 | | | Vested | | (1,197,570) | | | $ | 1.38 | | | Forfeited | | (15,721) | | | $ | 2.00 | | Non-vested at March 31, 2026 | | 8,641,510 | | $ | 0.97 | |
|
| Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions |
The following table summarizes the key assumptions used in estimating the value of the PRSUs granted in 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 three months ended March 31, 2026 is as follows: | | | | | | | | | | | | | | | | | Number of PRSUs | | Weighted-average Grant Date Fair Value | Non-vested at December 31, 2025 | | 4,342,391 | | | $ | 0.38 | | | Granted | | — | | | $ | — | | | Vested | | — | | | $ | — | | | Forfeited | | — | | | $ | — | | Non-vested at March 31, 2026 | | 4,342,391 | | $ | 0.38 | |
|
| 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 accompanying condensed consolidated statements of operations (in thousands): | | | | | | | | | | | | | Three Months Ended March 31, | | 2026 | | 2025 | | Sales and marketing | $ | 64 | | | $ | 281 | | | Product development | 259 | | | 662 | | | General and administrative | 994 | | | 1,251 | | | Total stock-based compensation expense | 1,317 | | | 2,194 | | | Amount capitalized to software development | 20 | | | 263 | | Total stock-based compensation cost | $ | 1,337 | | | $ | 2,457 | |
|