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Stockholders' Equity (Tables)

12 Months Ended

Dec. 31, 2024

Subsidiary, Sale of Stock [Line Items]

Summary of the Company's RSU activity

The following table summarizes the Company’s Service-Based RSU activities for the year ended December 31, 2024:

​	​	​	​	​	​
​	​	​	​	Weighted
​	​	​	​	Average
​	​	Number of	​	Fair Value at
​		Shares		Grant Date
RSU outstanding and unvested as of December 31, 2023		399,709	​	$	8.10
Granted		1,889,502	​	$	2.83
Vested		(347,482)	​	$	8.64
Forfeited or expired		(13,129)	​	$	4.57
RSU outstanding and unvested as of December 31, 2024		1,928,600	​	$	2.86

Summary of compensation expense and related income tax benefit related to the stock-based compensation expense recognized

The following table summarizes the compensation expense and related income tax benefit related to the Company’s stock-based compensation arrangements recognized in the accompanying consolidated statements of operations during the periods presented (in thousands):

​	​	​	​	​	​	​	​	​	​
​	​	Year Ended December 31,
​	​	​	​	​	​	​	​	​	​
​		2022			2023			2024
Stock-based compensation expense, net of $0 tax in 2022, 2023 and 2024	​	$	26,473	​	$	23,336	​	$	10,803

Stonepeak Warrant

Subsidiary, Sale of Stock [Line Items]

Schedule of fair value inputs

​	​	​	​	​
​		December 12, 2023		December 12, 2023
Exercise price	​	5.50	​	6.50
Dividend yield		0.0%	​	0.0%
Expected volatility		72.96%	​	72.96%
Risk-free interest rate		4.22%	​	4.22%
Expected term in years		8.5		8.5

Schedule of warrant activity

​

​	​	​
​	​	Warrant
​		Shares
Outstanding and unexercised as of December 31, 2023		20,000,000
Granted		28,918
Exercised		—
Outstanding and unexercised as of December 31, 2024		20,028,918

​

Amazon Warrant

Subsidiary, Sale of Stock [Line Items]

Schedule of fair value inputs

​

​	​	​	​	​
​		April 16, 2021		June 14, 2021
Dividend yield		0.0%	​	0.0%
Expected volatility		66.46%	​	67.97%
Risk-free interest rate		1.59%	​	1.49%
Expected term in years		10.0		9.8

Schedule of warrant activity

The following table summarizes the Amazon Warrant activities for the year ended December 31, 2024:

​	​	​
​	​	Warrant
​		Shares
Outstanding and unvested as of December 31, 2023		37,613,035
Granted		—
Vested		(7,640,152)
Outstanding and unvested as of December 31, 2024		29,972,883

Service Based Stock Options

Subsidiary, Sale of Stock [Line Items]

Summary of stock option activity

The following table summarizes the Company’s service-based stock option activities for the year ended December 31, 2024:

​	​	​	​	​	​	​	​	​	​	​
​	​	​	​	​	​	​	Weighted	​	​	​
​	​	​	​	​	​	​	Average	​	​	​
​	​	​	​	Weighted		​	Remaining	​	Aggregate
​	​	​	​	Average		​	Contractual	​	Intrinsic
​	​	Number of	​	Exercise		​	Term	​	Value
​		Shares		Price			(in years)		(in thousands)
Options outstanding as of December 31, 2023		12,560,577	​	$	5.68				​
Granted		3,216,932	​	$	2.83	​	​	​	​	​
Exercised		(35,911)	​	$	1.71	​	​	​	​	​
Forfeited or expired		(825,986)	​	$	7.40	​	​	​	​	​
Options outstanding as of December 31, 2024		14,915,612	​	$	4.98	​	6.56	​	$	1,215
Options exercisable as of December 31, 2024		9,879,896	​	$	5.69	​	5.42	​	$	1,213
Options vested and expected to vest as of December 31, 2024		14,915,612	​	$	4.98	​	6.56	​	$	1,215

Schedule of assumptions used to estimate the fair value of each award using the Black-Scholes option pricing model

​

The fair value of each service-based stock option granted was estimated as of the date of grant using the Black-Scholes option pricing model and using the following assumptions:

​	​	​	​	​	​	​
​	​	Year Ended December 31,
​		2022		2023		2024
Dividend yield		0.0%	​	0.0%	​	0.0%
Expected volatility		73.7% to 76.9%	​	75.2% to 76.6%	​	76.5% to 76.9%
Risk-free interest rate		1.52% to 4.34%	​	3.68% to 4.73%	​	4.18% to 4.39%
Expected life in years		5.6 to 5.9		5.9 to 6.2		6.1 to 6.2

Performance-Based Stock Options

Subsidiary, Sale of Stock [Line Items]

Summary of stock option activity

The following table summarizes the Company’s performance-based stock option activities for the year ended December 31, 2024:

​	​	​	​	​	​	​	​	​	​	​
​	​	​	​	​	​	​	Weighted	​	​	​
​	​	​	​	​	​	​	Average	​	​	​
​	​	​	​	Weighted		​	Remaining	​	Aggregate
​	​	​	​	Average		​	Contractual	​	Intrinsic
​	​	Number of	​	Exercise		​	Term	​	Value
​		Shares		Price			(in years)		(in thousands)
Options outstanding as of December 31, 2023		1,615,000	​	$	6.77	​			​
Granted		—	​	$	—	​	​	​	​	​
Exercised		—	​	$	—	​	​	​	​	​
Forfeited or expired		(25,000)	​	$	6.77	​	​	​	​	​
Options outstanding as of December 31, 2024		1,590,000	​	$	6.77	​	6.94	​	$	—
Options vested and exercisable as of December 31, 2024		397,500	​	$	6.77	​	6.94	​	$	—

Schedule of assumptions used to estimate the fair value of each award using the Black-Scholes option pricing model

The fair value of each performance-based stock option granted was estimated as of the date of grant using the Black-Scholes option pricing model and using the following assumptions:

​	​	​
​	​	​
​		December 7, 2021
Dividend yield	​	0.0%
Expected volatility	​	77.1%
Risk-free interest rate	​	1.36%
Expected life in years	​	6.2

Market Based Stock Options

Subsidiary, Sale of Stock [Line Items]

Summary of stock option activity

The following table summarizes the Company’s market-based stock option activities for the year ended December 31, 2024:

​	​	​	​	​	​	​	​	​	​	​
​	​	​	​	​	​	​	Weighted	​	​	​
​	​	​	​	​	​	​	Average	​	​	​
​	​	​	​	Weighted		​	Remaining	​	Aggregate
​	​	​	​	Average		​	Contractual	​	Intrinsic
​	​	Number of	​	Exercise		​	Term	​	Value
​		Shares		Price			(in years)		(in thousands)
Options outstanding as of December 31, 2023		3,650,000	​	$	6.77	​			​
Granted		—	​	$	—	​	​	​	​	​
Exercised		—	​	$	—	​	​	​	​	​
Forfeited or expired		—	​	$	6.77	​	​	​	​	​
Options outstanding as of December 31, 2024		3,650,000	​	$	6.77	​	6.94	​	$	—
Options vested and exercisable as of December 31, 2024		—	​	$	—	​	—	​	$	—

Schedule of assumptions used to estimate the fair value of each award using the Black-Scholes option pricing model

​

​	​	​
​	​	​
​		December 7, 2021
Dividend yield	​	0.0%
Expected volatility	​	67.8%
Risk-free interest rate	​	1.5%
Expected life in years	​	10.0

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