Stock-Based Compensation |
3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Mar. 31, 2026 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Share-Based Payment Arrangement [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Stock-Based Compensation | Stock-Based Compensation As of March 31, 2026, 18,844,301 shares of our common stock had been authorized for issuance under our Amended & Restated 2021 Equity and Incentive Compensation Plan and 5,606,175 shares of our common stock were authorized for issuance under our 2018 Equity Incentive Plan. Stock Option Activity There was no stock option activity during the three months ended March 31, 2026. Restricted Stock Unit Activity A summary of restricted stock unit (“RSU”) activity under our equity incentive plans is as follows:
The total fair value of RSUs that vested during the three months ended March 31, 2026 and 2025 was approximately $0.2 million and $0.4 million, respectively. We had 139,388 outstanding and fully vested RSUs that remained unsettled at March 31, 2025, all of which were settled in 2025. As such, they were excluded from outstanding shares of common stock but were included in weighted-average shares outstanding for the calculation of net loss per share for the three months ended March 31, 2025. There were no outstanding and fully vested RSUs that remained unsettled at March 31, 2026. Performance Stock Unit Activity There was no performance-based restricted stock unit (“PSU”) activity under our equity incentive plans during the three months ended March 31, 2026. Stock-Based Compensation Expense Stock-based compensation expense under our equity incentive plans during the three months ended March 31, 2026 and 2025 was $1.2 million and $0.7 million, respectively, and was recorded in selling and administrative expenses in our condensed consolidated statements of operations for the three months ended March 31, 2026 and 2025, respectively. At March 31, 2026, there was no unrecognized stock-based compensation expense related to unvested stock options or PSUs, as all previously unvested and outstanding stock options and PSUs were fully vested as of March 31, 2026. At March 31, 2026, total unrecognized compensation cost related to unvested RSUs was $1.1 million and is expected to be recognized over the remaining weighted-average service period of 1.36 years.
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