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Stock-Based Compensation (Tables)

9 Months Ended

Sep. 30, 2024

Share-Based Payment Arrangement [Abstract]

Schedule of Share-based Compensation, Stock Options and Stock Appreciation Rights Award Activity

The following table presents certain information related to the activity of our non-vested stock option grants:

			Number of Stock Options						Weighted Average Exercise Prices						Weighted Average Remaining Contractual Term (years)						Aggregate Intrinsic Value (3)
Outstanding as of December 31, 2023			1,028,760						$	3.83					7.80						$	6,151,000
Granted (1)			196,275						4.82						—						—
Less: Forfeited			—						—						—						—
Less: Expired			—						—						—						—
Less: Exercised			95,000						2.35						—						—
Outstanding as of September 30, 2024			1,130,035						$	4.12					7.47						$	8,360,000
Vested as of September 30, 2024(2)			1,276,019						$	4.30					7.04						$	6,147,000
Exercisable as of September 30, 2024			840,768						$	4.30					7.04						$	6,147,000

(1) Contingent shares granted during 2023 have been included in the calculation of 2024's granted values.

(2) The vested shares are calculated based on all vested shares at September 30, 2024, inclusive of those that have since expired. The weighted average exercise prices, weighted-average remaining contractual term and aggregate intrinsic value is calculated based on only vested shares that are outstanding and exercisable at September 30, 2024.

(3) Presented in ones.

Schedule of Nonvested Share Activity

The following table presents certain information related to the activity of our non-vested restricted common stock grants:

			Number of Restricted Shares						Weighted Average Grant Date Fair Value
Outstanding as of December 31, 2023			445,646						$	2.64
Granted (1)			598,713						7.41
Less: Forfeited			1,476						4.56
Less: Vested			436,472						3.36
Outstanding as of September 30, 2024			606,411						$	6.23

Share-based Payment Arrangement, Activity

The following table presents our total stock-based compensation expense:

						Three Months Ended September 30,												Nine Months Ended September 30,
						2024						2023						2024						2023
Employee stock-based compensation expense
Pre-tax						$	556					$	350					$	1,593					$	738
Post-tax (1)						439						277						1,258						583
Director stock-based compensation expense
Pre-tax						138						60						310						115
Post-tax (1)						109						47						245						91

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions

The following weighted-average assumptions were used to value the stock options granted:

			2024						2023
Expected annual dividend yield			—		%				—		%
Expected volatility			86.92		%				80.84		%
Risk-free interest rate			4.37		%				3.44		%
Expected term			6 years						6 years

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Tabular disclosure of the changes in outstanding nonvested shares.

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Tabular disclosure of activity for award under share-based payment arrangement. Includes, but is not limited to, outstanding award at beginning and end of year, granted, exercised, forfeited, and weighted-average grant date fair value.

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Tabular disclosure of the number and weighted-average exercise prices (or conversion ratios) for stock options and stock appreciation rights that were outstanding at the beginning and end of the year, exercisable at the end of the year, and the number of stock options and stock appreciation rights that were granted, exercised or converted, forfeited, and expired during the year.

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Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions.

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