Stock-Based Compensation |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2026 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Share-Based Payment Arrangement [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Stock-Based Compensation | Stock-Based Compensation As of June 30, 2026, 28,844,301 shares of our common stock had been authorized for issuance under our 2021 Equity and Incentive Compensation Plan, as amended to include an increase of 10,000,000 shares approved by our stockholders on June 16, 2026, and 5,606,175 shares of common stock were originally reserved for issuance under our 2018 Equity Incentive Plan. Stock Option Activity There was no stock option activity during the three months and six months ended June 30, 2026. Restricted Stock Unit Activity A summary of restricted stock unit (“RSU”) activity under our equity incentive plans is as follows:
The total fair value of RSUs that vested during the three months ended June 30, 2026 and 2025 was approximately $5.0 million and $4.4 million, respectively, and approximately $5.2 million and $4.8 million during the six months ended June 30, 2026 and 2025, respectively. We had 920,485 and 2,276,061 outstanding and fully vested RSUs that remained unsettled at June 30, 2026 and 2025, respectively, all of which are expected to be settled in 2026 and were settled in 2025, respectively. As such, they were excluded from outstanding shares of common stock but were included in weighted-average shares outstanding for the calculation of net loss per share for the three and six months ended June 30, 2026 and 2025. Performance Stock Unit Activity There was no performance-based restricted stock unit (“PSU”) activity under our equity incentive plans during the three months and six months ended June 30, 2026. Stock-Based Compensation Expense Stock-based compensation expense under our equity incentive plans during the three months ended June 30, 2026 and 2025 was $2.5 million and $1.7 million, respectively, and $3.7 million and $2.4 million during the six months ended June 30, 2026 and 2025, respectively. All stock-based compensation expense was recorded in selling and administrative expenses in our condensed consolidated statements of operations for the three and six months ended June 30, 2026 and 2025. At June 30, 2026, there was no unrecognized stock-based compensation expense related to unvested stock options or PSUs, as all previously unvested and outstanding stock options and PSUs were fully vested as of June 30, 2026. At June 30, 2026, total unrecognized compensation cost related to unvested RSUs was $7.1 million and is expected to be recognized over the remaining weighted-average service period of 1.00 year.
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