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Share-Based Compensation (Tables)
 9 Months Ended
Sep. 30, 2025
Share-Based Payment Arrangement [Abstract]  
Disclosure of Share-Based Compensation Arrangements by Share-Based Payment Award
The following table presents the effects of share-based compensation expense in the Condensed Consolidated Statements of Operations during the periods presented (in thousands):
Three months ended September 30,Nine months ended September 30,
2025202420252024
Direct costs
$72 $68 $203 $191 
Sales and marketing1,320 1,014 3,655 2,865 
Research, development, and engineering935 769 2,662 2,930 
General, administrative, and other related costs (1)
9,870 8,310 27,156 24,647 
Total share-based compensation expense$12,197 $10,161 $33,676 $30,633 
(1)Includes expense of $0.1 million related to liability classified awards issued to non-employees of the Company for the three and nine months ended September 30, 2025, respectively.
Market-Based Restricted Stock Awards, Valuation Assumptions
The assumptions used in determining the weighted-average fair values of PSUs granted during the periods presented are as follows:
Nine months ended September 30,
20252024
Underlying stock price at valuation date$38.19 $66.88 
Expected volatility34.5 %32.9 %
Risk-free interest rate3.9 %4.3 %
Restricted Stock and Restricted Stock Unit Award Activity
Restricted stock award (“RSA”) and PSA activity for the nine months ended September 30, 2025 is set forth below:
RSAs
PSAs
Number of
Shares
Weighted Average
Grant Date
Fair Value
Number of
Shares
Weighted Average
Grant Date
Fair Value
Nonvested at January 1, 202554,829 $68.97 163,181 $36.27 
Granted— $— — $— 
Vested(27,632)$68.97 — $— 
Forfeited
— $— — $— 
Nonvested at September 30, 2025
27,197 $68.97 163,181 $36.27 
  
RSU and PSU activity for the nine months ended September 30, 2025 is set forth below:
RSUs
PSUs
Number of
Shares

Weighted Average Grant Date Fair Value
Number of Shares (1)
Weighted Average Grant Date Fair Value
Outstanding at January 1, 2025652,227 $74.59 520,986 $82.73 
Granted752,246 $37.23 598,676 $38.80 
Vested(249,811)$73.28 (23,477)$78.73 
Forfeited
(42,415)$55.83 (55,001)$58.90 
Outstanding at September 30, 2025
1,112,247 $50.33 1,041,184 $58.19 
(1)Represents the number of shares at 100% achievement.