v3.26.1
Share-Based Compensation (Tables)
 6 Months Ended
Jun. 30, 2026
Share-Based Payment Arrangement [Abstract]  
Disclosure of Share-Based Compensation Arrangements by Share-Based Payment Award
The following table summarizes RSUs granted and their aggregate grant-date fair values during the six months ended June 30, 2026 and 2025 (amounts in thousands, except for unit amounts):
Six Months Ended June 30, 2026Six Months Ended June 30, 2025
Number of Units
Fair Value
Number of Units
Fair Value
Time-based RSUs
858,038 $17,389 824,329 $9,076 
Performance-based RSUs
342,253 6,930 — — 
Market-based RSUs
171,116 5,279 423,269 6,040 
Total
1,371,407 $29,598 1,247,598 $15,116 
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions
The following assumptions were used in estimating the grant-date fair value of RSUs with market conditions based on a Monte Carlo simulation model:
Six Months Ended
June 30,
20262025
Volatility rate56.00 %62.75 %
Risk-free interest rate3.69 %4.00 %
Average expected life (in years)2.82.8
Dividend yieldNoneNone
Stock price at grant date$20.19$10.70
Schedule of Restricted Stock Unit Activity
Number of unitsWeighted-average
grant price
Unvested balance at December 31, 2025
5,059,700 $8.94 
Granted1,371,407 21.58 
Vested(1)
(1,579,848)7.08 
Forfeited(17,143)8.17 
Unvested balance at June 30, 2026
4,834,116 $13.14 
______________________________
(1)Includes 56,728 RSUs that vested during the six months ended June 30, 2026 but the resulting shares of Class A Common Stock have not yet been issued. As of June 30, 2026, there were 122,558 RSUs that vested for which the resulting shares of Class A Common Stock were not issued.
Schedule of Stock Option Activity The estimated grant date fair value of stock options for the six months ended June 30, 2025 was determined using a Black-Scholes valuation model using the following weighted-average assumptions:
Six Months Ended
June 30, 2025
Volatility rate65.00 %
Risk-free interest rate4.10 %
Expected term(1) (in years)
6.0
Dividend yieldNone
Stock price at grant date$10.70
Exercise price$10.70
____________________________
(1)Calculated using the simplified method (the midpoint between the requisite service period and the contractual term of the option) due to the Company’s insufficient historical exercise information to provide a basis for an estimate.
Stock option activity for the six months ended June 30, 2026 was as follows:
Number of optionsWeighted-average
exercise price
Outstanding balance at December 31, 2025
2,804,841 $5.33 
Granted— — 
Exercised
(220,647)4.45 
Forfeited— — 
Outstanding balance at June 30, 2026
2,584,194 $5.40 
Exercisable balance at June 30, 2026
2,165,061 $4.80 
Schedule of Share-based Compensation Expense
Share-based compensation expense for the three and six months ended June 30, 2026 and 2025 was as follows:
Three Months Ended June 30,Six Months Ended June 30,
($ in thousands)2026202520262025
Costs of revenue$82 $79 $152 $142 
Sales and marketing
1,306 955 2,467 4,279 
General and administrative
5,930 5,064 11,390 10,490 
Total share-based compensation expense$7,318 $6,098 $14,009 $14,911