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Stock-Based and Other Long-Term Incentive Compensation (Tables) | 12 Months Ended
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Dec. 31, 2024
Share-Based Payment Arrangement [Abstract] |
Schedule of Stock Based Compensation Expense | The following table summarizes the total stock-based compensation expense recognized during the periods presented:
| Year Ended December 31,
| 2024 |  | 2023 |  | 2022
Equity-classified | $ | 1,821 |  |  | $ | 2,054 |  |  | $ | 1,910 |
Liability-classified (1) | 248 |  |  | — |  |  | — |
| $ | 2,069 |  |  | $ | 2,054 |  |  | $ | 1,910 |
(1) Represents compensation expense associated with awards that may be settled in cash at the option of the grantee.
Schedule of Restricted Stock Activity | The following table summarizes all restricted stock and RSU (fully vested and time-vested) activity during the year ended December 31, 2024:
| Number of Shares |  | Weighted Average Grant Date Fair Value |  | Weighted Average Remaining Contractual Life (years) |  | Aggregate Intrinsic Value
Outstanding, December 31, 2023 | 133,898 |  |  | $ | 10.66 |  |  | 1.57 |  | $ | 1,813 |
Granted | 97,941 |  |  | $ | 18.44 |  |  |  |  | $ | 1,806 |
Vested | (74,447) |  |  | $ | 10.46 |  |  |  |  | $ | 1,636 |
Canceled/Forfeited | (26,209) |  |  | $ | 11.98 |  |  |  |  | $ | 214 |
Outstanding, December 31, 2024 | 131,183 |  |  | $ | 16.39 |  |  | 5.15 |  | $ | 3,516 |
The following table summarizes all cash settled RSU activity during the year ended December 31, 2024:
| Number of Shares |  | Weighted Average Grant Date Fair Value |  | Weighted Average Remaining Contractual Life (years) |  | Aggregate Intrinsic Value
Outstanding, December 31, 2023 | — |  |  | $ | — |  |  | — |  |  | $ | — |
Granted | 15,069 |  |  | $ | 19.51 |  |  |  |  | $ | 294 |
Vested | — |  |  | $ | — |  |  |  |  | $ | — |
Canceled/Forfeited | — |  |  | $ | — |  |  |  |  | $ | — |
Outstanding, December 31, 2024 | 15,069 |  |  | $ | 19.51 |  |  | 0.50 |  | $ | 294 |
Schedule of Stock Options Fair Value Assumptions | The following table summarizes the weighted average grant date fair values of PSUs granted and the assumptions used in the Monte Carlo simulation model for the determination of the grant date fair values of our PSUs for the year ended December 31, 2024:
Weighted-average grant date fair value of PSUs granted | $ | 22.47 |
Risk free rate | 4.09% to 4.39%
Expected volatility | 43.4% to 44.2%
Expected dividend yield | — | %
The following table summarizes the weighted average grant date fair values of options granted and the assumptions used in the Black-Scholes option valuation model for their determination for the periods presented:
| Year Ended December 31, |  |  |  |  |  |  |  |
| 2024 |  | 2023 |  | 2022 |  |  |  |  |  |
Weighted-average grant date fair value of options granted | $ | 12.25 |  |  | $ | 5.11 |  |  | $ | 4.24 |  |  |  |  |  |  |  |  |
Risk free rate | 4.36 | % |  | 3.99 | % |  | 2.99 | % |  |  |  |  |  |  |  |
Expected life | 6.53 |  | 6.49 |  | 2.67 |  |  |  |  |  |  |  |
Expected volatility | 48.25 | % |  | 47 | % |  | 54.5 | % |  |  |  |  |  |  |  |
Expected dividend yield | — | % |  | — | % |  | — | % |  |  |  |  |  |  |  |
Schedule of Share-Based Payment Arrangement, Performance Shares, Outstanding Activity | The following table summarizes all PSU activity during the year ended December 31, 2024:
| Number of Shares |  | Weighted Average Grant Date Fair Value |  | Weighted Average Remaining Contractual Life (years) |  | Aggregate Intrinsic Value
Outstanding, December 31, 2023 | — |  |  | $ | — |  |  | — |  |  | $ | — |
Granted | 56,764 |  |  | $ | 22.47 |  |  |  |  | $ | — |
Vested | — |  |  | $ | — |  |  |  |  | $ | — |
Canceled/Forfeited | — |  |  | $ | — |  |  |  |  | $ | — |
Outstanding, December 31, 2024 | 56,764 |  |  | $ | 22.47 |  |  | 2.22 |  | $ | — |
Schedule of Option Activity | The following table summarizes all option activity during the year ended December 31, 2024:
| Number of Shares Underlying Stock Options |  | Weighted Average Exercise Price |  | Weighted Average Remaining Contractual Life (years) |  | Aggregate Intrinsic Value
Outstanding, December 31, 2023 | 129,751 |  |  | $ | 20.59 |  |  | 4.10 |  | $ | 274 |
Granted | 49,000 |  |  | $ | 22.73 |  |  |  |  | $ | — |
Vested | (23,666) |  |  | $ | 12.40 |  |  |  |  | $ | 286 |
Canceled/Forfeited | (11,667) |  |  | $ | 21.99 |  |  |  |  | $ | 11 |
Expired | (29,667) |  |  | $ | 30.41 |  |  |  |  | $ | — |
Outstanding, December 31, 2024 | 113,751 |  |  | $ | 20.44 |  |  | 5.84 |  | $ | 747 |
Outstanding, Exercisable, December 31, 2024 | 64,753 |  |  | $ | 19.93 |  |  | 3.30 |  | $ | 469 |
Schedule of Stock Options Outstanding | The following table summarizes information about our stock options outstanding at December 31, 2024:
Range of Exercise Prices |  | Options Outstanding |  | Options Exercisable
| Shares |  | Weighted Average Remaining Contractual Life (years) |  | Weighted Average Exercise Price |  | Shares |  | Weighted Average Exercise Price
$0.01-$18.00 |  | 29,834 |  |  | 7.25 |  | $ | 10.72 |  |  | 23,168 |  |  | $ | 10.67 |
$18.01-$26.00 |  | 66,167 |  |  | 6.19 |  | $ | 22.76 |  |  | 23,835 |  |  | $ | 22.81 |
$26.01-$30.00 |  | 17,750 |  |  | 2.13 |  | $ | 28.15 |  |  | 17,750 |  |  | $ | 28.15 |
|  | 113,751 |  |  | 5.84 |  | $ | 20.44 |  |  | 64,753 |  |  | $ | 19.93 |
Schedule of the Status of Unvested Stock Options | The following table summarizes changes in our unvested stock options during the year December 31, 2024:
| Shares |  | Weighted Average Grant Date Fair Value
Unvested at December 31, 2023 | 24,335 |  |  | $ | 5.45 |
Granted | 49,000 |  |  | $ | 12.25 |
Vested | (17,170) |  |  | $ | 5.57 |
Canceled/Forfeited | (7,167) |  |  | $ | 11.28 |
Unvested at December 31, 2024 | 48,998 |  |  | $ | 11.35 |

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