Stock-based Compensation

The Company has various stock compensation plans, which are more fully described in Part II, Item 8 “Financial Statements and Supplementary Data - Note 8 to the Consolidated Financial Statements - Stock-based Compensation” in its 2025 Annual Report on Form 10-K and Form 10-K/A for the fiscal year ended December 31, 2025.

Stock-based Compensation Expense

Total stock-based compensation was recognized as follows:


	Three Months Ended March 31,
		2026		2025
General and administrative		$	2,138	$	779
Sales and marketing		545		455
Research and development		807		423
Total stock-based compensation		$	3,490	$	1,657

The Company capitalized stock-based compensation attributable to internally developed software of $52 and $27 for the three months ended March 31, 2026, and March 31, 2025.

As of March 31, 2026, the Company had $5,790 of unrecognized stock-based compensation costs related to unvested RSUs that will be recognized over a weighted-average period of 0.8 years.

Equity Incentive Plan

Under the 2021 Incentive Award Plan, the Company has the ability to grant options, stock appreciation rights, restricted stock awards (“RSAs”), restricted stock units (“RSUs”), performance stock units (“PSUs”), dividend equivalents, or other stock or cash-based awards to employees, directors, or consultants. Option awards are generally granted with an exercise price equal to the fair value of the Company’s common stock at the date of grant. Options and PSU awards generally vest over a period of four years. RSUs are generally subject to a four year vesting term with 25% vesting after one year and quarterly thereafter, or on a two year vesting term with 50% after one year and the remaining after the second year, or a one year vesting term with 100% after one year, depending on grant reason. RSU grants to directors typically vest at the earlier of one year from the date of grant or the next annual shareholder meeting and, in certain circumstances, vest immediately. RSAs generally vest over less than one year.

RSU activity was as follows:


	Number of Shares	Weighted Average Grant Date Fair Value
Outstanding as of December 31, 2025	2,193,755	$	6.71
Granted	26,376	9.99
Vested	(756,878)	4.74
Forfeited	(22,038)	9.76
Outstanding as of March 31, 2026	1,441,215	$	7.82

During the three months ended March 31, 2026, 62,499 PSUs vested. Stock-based compensation cost associated with these awards was recognized during the year ended December 31, 2025; accordingly, no PSU-related cost was recognized during the three months ended March 31, 2026. As of March 31, 2026, 312,500 unvested PSUs were outstanding with a weighted-average grant date fair value

of $11.96. Related to these unvested PSUs, there was $3,109 of unrecognized stock-based compensation costs that as of March 31, 2026 was estimated to be recognized over a weighted-average period of 1.98 years.

In connection with Jonathan Harris' separation from the Company in April 2026, the Company accelerated vesting on his outstanding RSU and PSU awards. See Note 11 for additional details.