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STOCK-BASED COMPENSATION (Tables) | 9 Months Ended
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Sep. 30, 2025
Share-Based Payment Arrangement [Abstract] |
Schedule of Performance-based Restricted Stock Units Vesting Conditions | The following table presents additional information relating to each MSU award:
Share Price Goal |  | Incremental Units |  | Tranche Cumulative Units
December 31, 2025 Vesting: |  |  |  |
$ | 3.14 |  |  | 144,041 |  |  | 144,041 |
$ | 5.00 |  |  | 144,041 |  |  | 288,082 |
$ | 8.00 |  |  | 144,041 |  |  | 432,123 |
$ | 10.00 |  |  | 144,041 |  |  | 576,164 |
$ | 12.00 |  |  | 144,041 |  |  | 720,205 |
$ | 14.00 |  |  | 144,041 |  |  | 864,246 |
December 31, 2026 Vesting: |  |  |  |
$ | 3.14 |  |  | 142,050 |  |  | 142,050 |
$ | 5.00 |  |  | 142,050 |  |  | 284,100 |
$ | 8.00 |  |  | 142,050 |  |  | 426,150 |
$ | 10.00 |  |  | 142,050 |  |  | 568,200 |
$ | 12.00 |  |  | 142,050 |  |  | 710,250 |
$ | 14.00 |  |  | 142,050 |  |  | 852,300 |
Schedule of Grant Fair Value PSU Tranches | The grant date fair value PSU tranches with RTSR market conditions were estimated using a Monte Carlo simulation model. The following assumptions were used to determine the grant date fair value:
| Nine Months Ended September 30, 2025
Expected term of awards in years | 0.7 - 1.0
Expected volatility | 96 | %
Risk-free interest rate | 3.76% - 4.11%
Expected dividend yield | 0 | %
Schedule of Restricted Stock Units Activity | A summary of restricted stock units (“RSU”), MSU and PSU activity for the nine months ended September 30, 2025, is as follows (amounts in thousands, except per share amounts):
| Restricted Stock Units |  | Market Condition Restricted Stock Units |  | Performance & Market Condition Restricted Stock Units
| Number of Shares |  | Weighted-Average Grant Date Fair Value |  | Number of Shares |  | Weighted-Average Grant Date Fair Value |  | Number of Shares |  | Weighted-Average Grant Date Fair Value
Unvested - December 31, 2024 | 18,341 |  |  | $ | 7.68 |  |  | 1,728 |  |  | $ | 6.11 |  |  | — |  |  | $ | — |
Granted | 4,235 |  |  | 10.44 |  |  | — |  |  | — |  |  | 7,358 |  |  | $12.07
Vested | (6,109) |  |  | 8.75 |  |  | — |  |  | — |  |  | — |  |  | — |
Forfeited | (751) |  |  | 6.95 |  |  | (12) |  |  | 3.99 |  |  | — |  |  | — |
Unvested - September 30, 2025 | 15,717 |  |  | $ | 8.05 |  |  | 1,716 |  |  | $ | 6.13 |  |  | 7,358 |  |  | $12.07
Schedule of Unrecognized Compensation Cost And Weighted Average Period For Recognition | As of September 30, 2025, unrecognized compensation cost and the related weighted-average period over which the cost is expected to be recognized for each award type were as follows (in thousands):
| Unrecognized Compensation Cost |  | Weighted-Average Recognition Period (Years)
RSUs | $ | 102,911 |  |  | 2.1 years
PSUs | 55,310 |  |  | 2.5 years
MSUs | 3,332 |  |  | 1.2 years
Total | $ | 161,553 |  |  |
Schedule of Share-based Compensation Arrangements by Share-based Payment Award | Stock-based compensation expense for the three and nine months ended September 30, 2025 and 2024, is included in the Company’s condensed consolidated statements of operations as follows (in thousands):
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
Cost of revenue | $ | 1,251 |  |  | $ | 2,338 |  |  | $ | 3,574 |  |  | $ | 5,496 |
Selling, general and administrative | 28,695 |  |  | 17,950 |  |  | 66,727 |  |  | 22,226 |
Stock-based compensation expense, net of amounts capitalized 1 | 29,946 |  |  | 20,288 |  |  | 70,301 |  |  | 27,722 |
Capitalized stock-based compensation 2 | 227 |  |  | 235 |  |  | 623 |  |  | 235 |
Total stock-based compensation cost | $ | 30,173 |  |  | $ | 20,523 |  |  | $ | 70,924 |  |  | $ | 27,957 |
1 The nine months ended September 30, 2025 includes $3.0 million of stock-based compensation expense as a result of accelerated vesting of outstanding RSUs for former board members. 2 Represents the amounts of stock-based compensation capitalized to property, plant, and equipment.

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- Definition Tabular disclosure of number, weighted-average exercise price or conversion ratio, aggregate intrinsic value, and weighted-average remaining contractual term for outstanding performance-based awards that are fully vested and expected to vest. Includes, but is not limited to, unvested awards for which requisite service period has not been rendered but that are expected to vest based on achievement of performance condition, if forfeitures are recognized when they occur. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Subparagraph (e)(1) -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
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