v3.26.1
Share-Based Compensation (Tables)
 6 Months Ended
Jun. 30, 2026
Share-Based Compensation  
Schedule of Stock-based Compensation Expense
The following table sets forth the Company’s total share-based compensation expense included in the Company’s condensed consolidated statements of operations:
Three Months Ended June 30,Six Months Ended June 30,
(in thousands)2026202520262025
Other cost of sales$99 $109 $198 $201 
General and administrative expenses3,197 6,922 7,343 12,324 
Total share-based compensation expense$3,296 $7,031 $7,541 $12,525 
Schedule of Options Activity
The following table summarizes stock option activity:
(shares in thousands)Shares Underlying Options Weighted Average Exercise
Price		Weighted Average Remaining
Contractual Life		Aggregate Intrinsic Value
Outstanding as of December 31, 2025436 $7.53 7.2 years$18 
Outstanding and expected to vest as of June 30, 2026436 $7.53 6.7 years$— 
Exercisable as of June 30, 2026396 $8.01 6.6 years$— 
Service-Based Awards  
Share-Based Compensation  
Schedule of RSU Activity
The table below represents the Company’s restricted stock units (“RSU”) activity:
(shares in thousands)Number of
Shares		Weighted
Average
Grant Date
Fair Value
Nonvested as of December 31, 202516,222$3.05 
Granted5,780$2.15 
Vested(6,024)$3.17 
Forfeited(1,214)$2.75 
Nonvested and outstanding as of June 30, 202614,764$2.67 
MSUs  
Share-Based Compensation  
Schedule of RSU Activity
The table below represents the Company’s market-based restricted stock units (“MSU”) activity:
(shares in thousands)Number of
Shares		Weighted
Average
Grant Date
Fair Value
Nonvested as of December 31, 20251,113$2.23 
Granted66$2.61 
Forfeited(71)$3.43 
Vested(28)$2.42 
Nonvested as of June 30, 20261,080$2.17 
Expected to vest as of June 30, 2026104 $2.39 
Schedule of Assumptions Used for Grants of Awards The following assumptions were used for the MSU grants issued during the six months ended June 30, 2026:
Risk-free interest rate3.8 %
Expected dividend yield— %
Expected volatility87 %
Cost of equity14 %
Remaining time to performance period end date (in years)5.0
PSUs  
Share-Based Compensation  
Schedule of PSU Activity The table below represents the Company’s PSU activity under the 2021 Incentive Plan:
(shares in thousands)Number of
Shares		Weighted
Average
Grant Date
Fair Value
Nonvested as of December 31, 20253,795$2.68 
Forfeited(1,124)$2.57 
Nonvested as of June 30, 20262,671$2.73 
Expected to vest as of June 30, 20262,671$2.73 
Incentive Units  
Share-Based Compensation  
Schedule of Incentive Units Activity Presented below is a summary of the activity of the Company’s Incentive Units:
(units in thousands)UnitsWeighted
Average
Grant Date
Fair Value
Nonvested as of December 31, 202553 $20.80 
Forfeited(2)$9.44 
Nonvested as of June 30, 202651 $21.16 
Fixed Value Awards  
Share-Based Compensation  
Schedule of PSU Activity
The table below represents the Company’s Fixed-Value Awards activity:
(in thousands)Fixed-Value Awards
Outstanding as of June 8, 2026 (initial grant date)$7,122 
Forfeited(36)
Outstanding and expected to vest as of June 30, 2026$7,086