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Share-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2025

Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]

Summary of Recognition of Share-Based Compensation related to Employees

Share-based compensation expense is recognized in cost of services, product and technology expense, and selling, general, and administrative expense, in the accompanying condensed consolidated statements of operations and comprehensive income (loss) as follows (in thousands):

		Three Months Ended June 30,								Six Months Ended June 30,
		2025				2024				2025				2024
Share-based compensation expense
Cost of services		$	556			$	410			$	1,088			$	767
Product and technology expense			1,806				683				2,609				1,337
Selling, general, and administrative expense			3,380				3,955				10,012				7,695
Total share-based compensation expense		$	5,742			$	5,048			$	13,709			$	9,799

Summary of Outstanding Stock Option Grants Issued

A summary of the stock option activity for the six months ended June 30, 2025 is as follows:

				Options				Weighted Average Exercise Price				Weighted Average Remaining Contractual Term		Aggregate Intrinsic Value
December 31, 2024		Grants outstanding			1,602,966			$	5.15
		Grants exercised			(216,805	)		$	5.11
		Grants cancelled/forfeited			(29,074	)		$	5.19
June 30, 2025		Grants outstanding			1,357,087			$	5.15			4.7 Years		$15.6 million
June 30, 2025		Grants vested			941,905			$	5.13			4.7 Years		$10.8 million
June 30, 2025		Grants unvested			415,182			$	5.20

2021 Equity Plan [Member]

Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]

Summary of Assumptions Applied to Establish Fair Value of Options Granted Using Black-Scholes Option Pricing Model

The fair value for stock options granted for the six months ended June 30, 2025 was estimated at the date of grant using the Black-Scholes option-pricing model with the following weighted average assumptions:

		Options
Expected stock price volatility			35.57	%
Risk-free interest rate			4.06	%
Expected term (in years)			6.25
Fair-value of the underlying unit		$	15.27

Summary of Option Unit Activity

A summary of the stock option activity for the six months ended June 30, 2025 is as follows:

				Options				Weighted Average Exercise Price				Weighted Average Remaining Contractual Term		Aggregate Intrinsic Value
December 31, 2024		Grants outstanding			4,517,897			$	14.38
		Grants issued			742,661			$	15.27
		Grants exercised			(18,986	)		$	13.55
		Grants cancelled/forfeited			(69,864	)		$	14.02
June 30, 2025		Grants outstanding			5,171,708			$	14.51			7.3 Years		$12.2 million
June 30, 2025		Grants vested			2,762,791			$	13.67			6.3 Years		$8.1 million
June 30, 2025		Grants unvested			2,408,917			$	15.48

Summary of the RSU activity

A summary of the RSU activity for the six months ended June 30, 2025 is as follows:

				Shares				Weighted Average Grant Date Fair Value
December 31, 2024		Nonvested RSUs			775,651			$	16.61
		Granted			390,595			$	15.45
		Vested			(151,853	)		$	15.72
		Forfeited			(37,462	)		$	14.54
June 30, 2025		Nonvested RSUs			976,931			$	16.37

2021 Equity Plan [Member] | Restricted Stock [Member]

Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]

Summary of Restricted Stock Activity

A summary of the restricted stock activity for the six months ended June 30, 2025 is as follows:

				Shares				Weighted Average Grant Date Fair Value
December 31, 2024		Nonvested restricted stock			1,177,743			$	10.01
		Vested			(729,520	)		$	11.42
June 30, 2025		Nonvested restricted stock			448,223			$	11.74

Sterling Acquisition Awards [Member]

Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]

Summary of the RSU activity

A summary of the RSU activity for the six months ended June 30, 2025 is as follows:

				Shares				Weighted Average Grant Date Fair Value
December 31, 2024		Nonvested RSUs			89,673			$	18.70
		Vested			(70,339	)		$	18.70
		Forfeited			(1,864	)		$	18.70
June 30, 2025		Nonvested RSUs			17,470			$	18.70

Sterling Acquisition Awards [Member] | Restricted Stock [Member]

Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]

Summary of Restricted Stock Activity

A summary of the restricted stock activity for the six months ended June 30, 2025 is as follows:

				Shares				Weighted Average Grant Date Fair Value
December 31, 2024		Nonvested restricted stock			692,714			$	18.70
		Vested			(312,323	)		$	18.70
		Forfeited			(59,395	)		$	18.70
June 30, 2025		Nonvested restricted stock			320,996			$	18.70

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