Stock-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2026

Share-Based Payment Arrangement [Abstract]

Schedule of Restricted Stock Unit Activity

The following table summarizes RSU activity for the three months ended March 31, 2026 (in thousands):


	Number of RSUs	Weighted-Average Grant Date Fair Value per Share
Unvested at December 31, 2025	8,669	$	18.97
Granted	1,366	5.82
Vested	(1,083)	18.18
Forfeited	(3,149)	23.04
Unvested at March 31, 2026	5,803	$	13.82

Schedule of Restricted Stock Award Activity

The following table summarizes RSA activity for the three months ended March 31, 2026 (in thousands):


	Number of RSA	Weighted-Average Grant Date Fair Value per Share
Unvested at December 31, 2025	3,180	$	2.06
Granted	—	—
Vested	(743)	2.11
Forfeited	(848)	1.86
Unvested at March 31, 2026	1,589	$	2.15

Schedule of Stock Option Activity

The following table summarizes time-based stock options activity for the three months ended March 31, 2026 (in thousands):


	Number of Stock Options	Weighted-Average Exercise Price		Weighted Average Remaining Contractual Term (in years)	Aggregate Intrinsic Value
Outstanding at December 31, 2025	482	$	28.00	9.7	$	—
Granted	—	—
Exercised	—	—
Forfeited	(482)	28.00

Expired

—

Outstanding at March 31, 2026

—

Exercisable at March 31, 2026

—

The following table summarizes market-based stock options activity for the three months ended March 31, 2026 (in thousands):


	Number of Stock Options	Weighted-Average Exercise Price		Weighted Average Remaining Contractual Term (in years)	Aggregate Intrinsic Value
Outstanding at December 31, 2025	6,365	$	—	9.7	$	—
Granted	—	—
Exercised	—	—
Forfeited	—	—
Expired	—	—


Outstanding at March 31, 2026	6,365	$	28.00	9.4	$	—
Exercisable at March 31, 2026	—			—	$	—

Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions

The Company used the Black-Scholes-Merton option pricing model to estimate the fair value of the time-based stock options with the following assumptions as of March 31, 2026:


	March 31,
Assumptions	2026
Expected term in years	6.1
Volatility	70	%
Risk-free rate	3.7	%
Dividend Yield	0.0	%

The Company used a Monte Carlo Simulation Model (a binomial lattice-based valuation model) to estimate the fair value of the market-based stock options with the following assumptions as of March 31, 2026:


	March 31,
Assumptions	2026
Expected term in years	10.0
Volatility	70	%
Risk-free rate	4.0	%
Dividend Yield	0.0	%