v3.26.3
Share-based Compensation (Tables)
9 Months Ended
Sep. 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 nine months ended September 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)

 

 

61,141

 

 

$

45.02

 

Vested and delivered

 

 

(42,521

)

 

$

25.36

 

Withheld as treasury stock(2)

 

 

(18,148

)

 

$

25.91

 

Forfeited

 

 

(23,233

)

 

$

32.35

 

Unvested as of September 30, 2026

 

 

631,466

 

 

$

36.37

 

 

(1)
During the nine months ended September 30, 2026, the Company granted an aggregate of 61,141 RSUs to certain employees and directors, and a consultant, at grant date fair values ranging from $42.39 to $73.16 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 8, "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 nine months ended September 30, 2026 and 2025:

 

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

(In thousands)

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Cost of revenue (exclusive of depreciation and amortization)

 

$

15

 

 

$

-

 

 

$

44

 

 

$

-

 

Sales and marketing expenses

 

 

233

 

 

 

206

 

 

 

608

 

 

 

594

 

General and administrative expenses

 

 

1,831

 

 

 

1,500

 

 

 

5,713

 

 

 

4,535

 

Share-based compensation expense

 

 

2,079

 

 

 

1,706

 

 

 

6,365

 

 

 

5,129

 

Capitalized in intangible assets

 

 

583

 

 

 

394

 

 

 

1,471

 

 

 

1,146

 

Total

 

$

2,662

 

 

$

2,100

 

 

$

7,836

 

 

$

6,275

 

Schedule of Unvested Performance-based awards Unvested activity related to RSUs subject to both service-based and performance-based vesting conditions for the nine months ended September 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 and delivered

 

 

(14,368

)

 

$

18.30

 

Withheld as treasury stock

 

 

(5,632

)

 

$

18.30

 

Unvested as of September 30, 2026

 

 

957,690

 

 

$

48.86