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Share-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2024

Share-Based Compensation

Schedule of weighted-average assumptions used in determining fair value of share based awards

​

​	​	​	​	​	​	​	​
Year ended		​		​		​
December 31,	​	2024	​	2023	​	2022
Assumptions							​
Dividend yield		0	%	0	%	0	%
Risk free interest rate		4.24%-4.29	%	3.69%-4.89	%	1.84%-4.27	%
Expected volatility		77.69%-80.62	%	71.73%-94	%	91%-94	%
Expected lives		1.5 years		1.5-2.0 years		1.5-2.75 years	​

Schedule of the activity for stock options issued

​

​	​	​	​	​	​
​		​		Weighted
​	​	​	​	Average
Stock Options and Stock Appreciation Rights	​	Shares	​	Exercise Price
Outstanding at December 31, 2021		2,604,023	​	$	1.03
-Cancelled		(11,781)	​	$	3.75
-Exercised		(583,273)	​	$	1.15
-Granted (1)		381,181	​	$	4.33
Outstanding at December 31, 2022		2,390,150	​	$	1.51
-Cancelled		(48,268)	​	$	5.67
-Exercised		(296,973)	​	$	2.68
-Granted (2)		602,526	​	$	10.02
Outstanding at December 31, 2023	​	2,647,435	​	$	3.31
-Cancelled	​	(10,176)	​	$	4.54
-Exercised	​	(39,402)	​	$	7.24
-Granted (3)	​	133,371	​	$	10.85
Outstanding at December 31, 2024		2,731,228	​	$	3.63

​

(1) Options to purchase 381,181 shares were granted in 2022, of which options to purchase 40,588 shares vested immediately in 2022 and the remainder vested 50% immediately and 50% one year after the date of the grants.

(2) Options to purchase 584,826 shares were granted in 2023, of which options to purchase 337,727 shares vested immediately in 2023 and the remainder vested 50% immediately and 50% one year after the date of the grants. In addition, 17,700 stock appreciation rights were granted in January 2023 with a six- month vesting period.

(3) Options to purchase 133,371 shares were granted in 2024, of which options to purchase 111,975 shares vested immediately in 2024 and the remainder vested 50% immediately and 50% one year after the date of the grants.

Schedule of weighted average contractual life in years and the weighted average exercise price

​

​	​	​	​	​	​	​	​
​		​		Weighted		​	​
​	​	​	​	Average	​	​	​
​	​	​	​	Remaining	​	Weighted
​	​	Number of	​	Contractual	​	Average
December 31, 2024	​	Options	​	Life (Years)	​	Exercise Price
Options outstanding and vested		2,713,522		3.26	​	$	3.55

​

​	​	​	​	​	​	​	​
​		​		Weighted		​	​
​	​	​	​	Average	​	​	​
​	​	​	​	Remaining	​	Weighted
​	​	Number of	​	Contractual	​	Average
December 31, 2023	​	Options	​	Life(Years)	​	Exercise Price
Options outstanding and vested		2,400,336		4.47	​	$	2.60

Schedule of intrinsic value

​

​	​	​	​	​	​	​	​	​	​
​		2024			2023			2022
Intrinsic value of options vested	​	$	—	​	$	2,886,080	​	$	1,249,506
Intrinsic value of options exercised	​	$	184,282	​	$	2,565,056	​	$	4,051,422

​

X

- Definition

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 total intrinsic value of options exercised (or share units converted), share-based liabilities paid, and the total fair value of shares vested during the year.

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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.

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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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