v3.26.1
Share-based Compensation (Tables)
6 Months Ended
Jun. 30, 2026
Share-Based Payment Arrangement [Abstract]  
Schedule of Unvested Restricted Stock Units

Service-based vesting conditions are generally satisfied over periods ranging from one to four years with annual vesting. Unvested activity related to RSUs subject solely to service-based vesting conditions for the six months ended June 30, 2026 was as follows:

 

 

Number of units

 

 

Weighted average
grant-date fair value

 

Unvested as of December 31, 2025

 

 

654,227

 

 

$

34.41

 

Granted(1)

 

 

60,641

 

 

$

44.79

 

Vested and delivered

 

 

(37,545

)

 

$

25.24

 

Withheld as treasury stock(2)

 

 

(15,924

)

 

$

25.78

 

Forfeited

 

 

(22,191

)

 

$

32.73

 

Unvested as of June 30, 2026

 

 

639,208

 

 

$

36.21

 

 

(1)
During the six months ended June 30, 2026, the Company granted an aggregate of 60,641 RSUs to certain employees and directors, and a consultant, at grant date fair values ranging from $42.39 to $54.09 per share, with vesting periods ranging generally from one to four years.
(2)
Withheld as treasury stock represents shares withheld to pay statutory taxes upon the vesting of RSUs. Refer to Note 6, "Shareholders' equity" for details.
Summary of Allocated Share-based Compensation

Share-based compensation was allocated to the following accounts in the condensed consolidated financial statements for the three and six months ended June 30, 2026 and 2025:

 

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

(In thousands)

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Cost of revenue (exclusive of depreciation and amortization)

 

$

14

 

 

$

-

 

 

$

29

 

 

$

-

 

Sales and marketing expenses

 

 

147

 

 

 

193

 

 

 

375

 

 

 

388

 

General and administrative expenses

 

 

2,075

 

 

 

1,634

 

 

 

3,882

 

 

 

3,035

 

Share-based compensation expense

 

 

2,236

 

 

 

1,827

 

 

 

4,286

 

 

 

3,423

 

Capitalized in intangible assets

 

 

522

 

 

 

370

 

 

 

888

 

 

 

752

 

Total

 

$

2,758

 

 

$

2,197

 

 

$

5,174

 

 

$

4,175

 

Schedule of Unvested Performance-based awards Unvested activity related to RSUs subject to both service-based and performance-based vesting conditions for the six months ended June 30, 2026 was as follows:

 

 

Number of units

 

 

Weighted average
grant-date fair value

 

Unvested as of December 31, 2025

 

 

115,000

 

 

$

18.30

 

Granted

 

 

862,690

 

 

$

52.23

 

Vested not delivered

 

 

(20,000

)

 

$

18.30

 

Unvested as of June 30, 2026

 

 

957,690

 

 

$

48.86