XML 25 R14.htm IDEA: XBRL DOCUMENT v3.25.2
SHARE-BASED COMPENSATION
 6 Months Ended
Jun. 30, 2025
Share-Based Payment Arrangement [Abstract]  
SHARE-BASED COMPENSATION SHARE-BASED COMPENSATION
Restricted share units (the “RSU”)
In the three months ended June 30, 2025, the Company granted 322,210 RSUs with no exercise price to employees with two types of vesting schedules of (1) vesting immediately after the grant or (2) vesting 50% immediately after the grant and cliff vesting the other 50% upon the satisfaction of one year service with the Group after the grant. Each of the RSUs granted is stipulated to vest following either of the two.
A summary of the Company’s share-based compensation activities for the three and six months ended June 30, 2025 were presented below:
Number of sharesWeighted average grant-date fair value
Outstanding as of April 1, 2025149,760$30.82 
 Granted322,21011.58
Vested(380,852)19.15
Outstanding as of June 30, 202591,118$11.58 
Number of sharesWeighted average grant-date fair value
Outstanding as of January 1, 2025150,260$30.82 
Granted322,21011.58
Vested(380,852)19.15
Forfeited(500)30.79
Outstanding as of June 30, 202591,118$11.58 
Compensation expenses recognized in connection with RSUs are allocated to the following expense items.
Three Months Ended June 30,Six Months Ended June 30,
2025202420252024
(In thousands)(In thousands)
Cost of revenues$128 $692 $267 $692 
Selling and marketing expenses900 2,1601,077 2,164
General and administrative expenses1,602 9,4442,172 9,606
Research and development expenses310 1,501566 1,535
Total share compensation expenses$2,940 $13,797 $4,082 $13,997 
As of June 30, 2025, unrecognized compensation expenses of $791 thousand relating to the 91,118 unvested RSUs would be recognized in next twelve months.