Share Capital (Tables)
|
6 Months Ended |
Jun. 30, 2026 |
|---|
| Disclosure of Share Capital [Line Items] |
|
| Schedule of Common Stock Outstanding Roll Forward |
A reconciliation of the beginning and ending amounts of the issued and outstanding shares by class is as follows:
|
|
|
|
|
|
|
|
|
Issued and Outstanding |
|
|
Subordinate
Voting
Shares |
|
Multiple
Voting
Shares |
|
Super
Voting
Shares |
As at January 1, 2026 |
|
206,629,845 |
|
37,472 |
|
201,690 |
Issuance of shares upon exercise of options |
|
13,704 |
|
— |
|
— |
Issuances of shares upon vesting of RSUs |
|
1,930,044 |
|
— |
|
— |
Issuance of shares to non-employee contractors |
|
12,575 |
|
— |
|
— |
Repurchase of Subordinate Voting Shares |
|
(13,438,787) |
|
— |
|
— |
Repurchase of Super Voting Shares |
|
— |
|
— |
|
(5,000) |
As at June 30, 2026 |
|
195,147,381 |
|
37,472 |
|
196,690 |
|
| Share-based Payment Arrangement, Option, Activity |
|
|
|
|
|
Number of Shares |
Weighted Average Exercise Price |
Weighted Average Remaining Contractual Life |
Balance as of December 31, 2025 |
7,692,764 |
$10.65 |
3.78 |
Granted |
293,217 |
6.54 |
|
Exercised |
(13,704) |
7.58 |
|
Forfeited |
(786,887) |
26.21 |
|
Balance as of June 30, 2026 |
7,185,390 |
$8.03 |
3.81 |
Exercisable as of June 30, 2026 |
6,045,234 |
$7.31 |
1.25 |
|
| Schedule of Stock-Based Compensation Expense |
The stock-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, |
|
|
2026 |
|
2025 |
|
|
2026 |
|
2025 |
|
|
(in thousands) |
|
|
(in thousands) |
Stock options expense |
$ |
895 |
$ |
1,766 |
|
$ |
2,147 |
$ |
3,859 |
Restricted stock units expense |
|
9,723 |
|
10,200 |
|
|
18,988 |
|
18,416 |
Total stock based compensation expense |
$ |
10,618 |
$ |
11,966 |
|
$ |
21,135 |
$ |
22,275 |
|
| Restricted Stock Units |
|
| Disclosure of Share Capital [Line Items] |
|
| Non-vested Restricted Stock Shares Activity |
The following table summarizes the number of unvested RSU awards as of June 30, 2026 and December 31, 2025 and the changes during the six months ended June 30, 2026:
|
|
|
|
|
|
|
Number of Shares |
|
Weighted Average Grant Date Fair Value |
Unvested Shares at December 31, 2025 |
|
9,518,293 |
$ |
8.30 |
Granted |
|
3,572,987 |
|
6.59 |
Forfeited |
|
(1,452,229) |
|
7.24 |
Vested |
|
(1,930,044) |
|
8.11 |
Unvested Shares at June 30, 2026 |
|
9,709,007 |
$ |
7.77 |
|