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Share-based Compensation (Tables) | 6 Months Ended
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Jun. 30, 2025
Share-Based Payment Arrangement [Abstract] |
Schedule of Unvested Restricted Stock Units | Details of unvested RSU activity during the six months ended June 30, 2025 were as follows:
|  | Number of units |  |  | Weighted average grant-date fair value |
Unvested as of December 31, 2024 |  |  | 887,268 |  |  | $ | 21.67 |
Granted(1) |  |  | 107,050 |  |  | $ | 36.27 |
Vested and delivered |  |  | (40,512 | ) |  | $ | 20.12 |
Withheld as treasury stock(2) |  |  | (17,605 | ) |  | $ | 20.32 |
Forfeited |  |  | (40,382 | ) |  | $ | 23.54 |
Unvested as of June 30, 2025(3) |  |  | 895,819 |  |  | $ | 23.42 |
(1) During the six months ended June 30, 2025, the Company granted an aggregate of 107,050 RSUs to certain employees and directors at grant date fair values ranging from $34.18 to $49.67 per share, with a vesting period ranging from three to four years. (2) Withheld as treasury stock represents shares withheld to pay statutory taxes upon the vesting of RSUs. Refer to Note 7 for details. (3) On March 18, 2024, the Company granted 130,000 RSUs, subject to performance-based vesting conditions, to a non-executive employee, at a grant date fair value of $18.30 per share. Such RSU grant will not vest unless and until the Company has achieved certain revenue for a portion of its business prior to December 31, 2030, the final achievement date deadline. As of June 30, 2025, the Company determined that it is not probable that the performance criteria associated with 70,000 of the 130,000 RSUs will be met. Accordingly, no share-based compensation expense has been recognized for these RSUs. The 70,000 RSUs remain unvested and were included in "Unvested as of June 30, 2025" in the table above.
Summary of Allocated Share-based Compensation | Share-based compensation was allocated to the following accounts in the condensed consolidated financial statements for the three and six months ended June 30, 2025 and 2024:
|  | Three Months Ended June 30, |  |  | Six Months Ended June 30, |
(In thousands) |  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |
Sales and marketing expenses |  | $ | 193 |  |  | $ | 158 |  |  | $ | 388 |  |  | $ | 296 |
General and administrative expenses |  |  | 1,634 |  |  |  | 1,235 |  |  |  | 3,035 |  |  |  | 2,499 |
Share-based compensation expense |  |  | 1,827 |  |  |  | 1,393 |  |  |  | 3,423 |  |  |  | 2,795 |
Capitalized in intangible assets |  |  | 370 |  |  |  | 436 |  |  |  | 752 |  |  |  | 882 |
Total |  | $ | 2,197 |  |  | $ | 1,829 |  |  | $ | 4,175 |  |  | $ | 3,677 |

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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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