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Stock-based compensation (Tables) | 3 Months Ended
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Mar. 31, 2025
Share-Based Payment Arrangement [Abstract] |
Schedule of Service Vesting-Based Stock Option Activity | The following is a summary of service-based vesting stock option activity for the three months ended March 31, 2025, and the status of service-based vesting stock options outstanding as of March 31, 2025:
| Three Months Ended March 31, 2025
| Options |  | Wtd. Avg. Exercise Price
Outstanding as of beginning of period | 127,000 |  |  | $ | 2.19 |
Exercised | — |  |  | — |
Outstanding as of March 31, 2025 | 127,000 |  |  | $ | 2.19 |
Stock options exercisable as of March 31, 2025 | 127,000 |  |  | $ | 2.19 |
Schedule of Service Vesting-Based and Market Based Restricted Stock Activity | The following is a summary of service-based vesting restricted stock activity for the three months ended March 31, 2025, and the status of unvested service-based vesting restricted stock outstanding as of March 31, 2025:
| Three Months Ended March 31, 2025
| Shares |  | Wtd. Avg. Grant Date Fair Value
Outstanding as of beginning of period | 1,295,640 |  |  | $ | 16.00 |
Granted | 290,333 |  |  | 25.33 |
Vested | (171,379) |  |  | 19.47 |
Forfeited | (15,151) |  |  | 14.17 |
Non-vested as of March 31, 2025 | 1,399,443 |  |  | $ | 17.53 |
The following is a summary of market-based restricted stock activity under our stock option plan for the three months ended March 31, 2025 and the status of market-based restricted stock outstanding as of March 31, 2025:
| Three Months Ended March 31, 2025
| Shares |  | Wtd. Avg. Grant
Outstanding as of beginning of period | 495,686 |  |  | $ | 25.69 |
Granted | 451,801 |  |  | 32.91 |
Vested | (470,287) |  |  | 25.19 |
Non-vested as of March 31, 2025 | 477,200 |  |  | $ | 33.02 |
Schedule of Share-Based Payment Award, Market-Based Awards Valuation Assumption | The following is a summary of key inputs to our market-based restricted stock awards as of March 31, 2025:
|  |  |  |  |  |  |  |  |  |  | Fair Value Assumptions |  |  |  |
| Grant Date |  | Target Shares |  | Vesting Range |  | Market Condition Period |  | FV of Award (in millions) |  | Volatility |  | Risk Free Rate |  | Dividend Rate |  | Attainment % |  | Vested Shares
2023 TSR(1) | 1/3/2023 |  | 268,738 |  | 0% - 200% |  | 1/1/2023 - 12/31/2024 |  | $ | 6.8 |  |  | 78 | % |  | 4.4 | % |  | — | % |  | 175 | % |  | 470,287
2024 TSR(2) | 3/8/2024 |  | 239,464 |  | 0% - 200% |  | 1/1/2024 - 12/31/2025 |  | $ | 6.3 |  |  | 80 | % |  | 4.6 | % |  | — | % |  | N/A |  | N/A
2025 TSR | 3/18/2025 |  | 250,252 |  | 0% - 200% |  | 1/1/2025 - 12/31/2026 |  | $ | 9.8 |  |  | 60 | % |  | 4.1 | % |  | — | % |  | N/A |  | N/A
(1) Of the $6.8 million fair value of the 2023 Total Shareholder Return ("TSR") award being expensed on a straight-line basis over the grant date to the vesting date, $1.6 million of expense was recognized in 2023 to reflect accelerations in the vesting period of certain awards. (2) Of the $6.3 million fair value of the 2024 TSR award being expensed on a straight-line basis over the grant date to the vesting date, $0.3 million of expense was recognized in 2024 to reflect accelerations in the vesting period of certain awards.
Schedule of Stock Compensation Expense | We recorded total stock compensation expense for the three months ended March 31, 2025 and 2024, as follows:
|  |  | Three Months Ended March 31,
(In thousands) |  |  |  |  | 2025 |  | 2024
Cost of revenue |  |  |  |  | $ | 292 |  |  | $ | 308 |
General and administrative costs |  |  |  |  | 2,967 |  |  | 2,833 |
Sales and marketing costs |  |  |  |  | 388 |  |  | 424 |
Research and development costs |  |  |  |  | 506 |  |  | 563 |
Total |  |  |  |  | $ | 4,153 |  |  | $ | 4,128 |

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- Definition Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
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- Definition Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (e) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
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- Definition Disclosure of the number and weighted-average grant date fair value for restricted stock and restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock and restricted stock units that were granted, vested, or forfeited during the year. + References No definition available. + Details
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