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Share-based compensation (Tables)

12 Months Ended

Dec. 31, 2024

Share-Based Payment Arrangement [Abstract]

Stock Option Activity

The following table summarizes the activity relating to the Company’s stock options:

			Stock options						Weighted-Average per Share Exercise Price
Outstanding, December 31, 2022			870,567						$	2.81
Granted			3,350,000						11.38
Exercised			(2,053)						2.81
Forfeited			(332,266)						8.37
Outstanding, December 31, 2023			3,886,248						$	9.72
Granted			1,806,000						6.97
Exercised			(25,954)						2.81
Forfeited			(634,991)						8.54
Outstanding, December 31, 2024			5,031,303						$	8.92
Options exercisable at December 31, 2024			1,052,383						$	8.67

Assumptions used to determine Grant Date Fair Value of Stock

The following table presents the assumptions used in the Black-Scholes option-pricing model to determine the grant date fair value of stock options issued during the years ended December 31, 2024 and 2023 and the fair value of stock options replaced on the replacement date adjusted by the Exchange Ratio:

Inputs			Year Ended December 31, 2024						Year Ended December 31, 2023						March 30, 2023
Risk-free interest rate			4.50% - 4.68%						3.97% - 4.83%						3.77		%
Expected volatility			47		%				40		%				40		%
Expected dividend yield			—%						—		%				—		%
Expected life (in years)			6.00 - 6.25						6.25						5.10
Fair value of options			$3.35 - $3.65						$2.96 - $5.38						$10.41

Time-Based Restricted Stock Unit Activity

The following table summarizes the activity relating to the Company’s RSUs:

			Shares						Weighted-Average Grant Date Fair Value Per Unit
Outstanding, December 31, 2022			—						$	—
Granted			73,992						6.59
Exercised			—						—
Forfeited			(9,399)						6.59
Outstanding, December 31, 2023			64,593						$	6.59
Granted			65,700						7.02
Exercised			(29,260)						6.86
Forfeited			(6,033)						6.74
Outstanding, December 31, 2024			95,000						$	6.79

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Tabular disclosure of the number and weighted-average grant date fair value for restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock units that were granted, vested, or forfeited 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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