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Share-Based Compensation | 9 Months Ended
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Sep. 30, 2025
Share-Based Payment Arrangement [Abstract] |
Share-Based Compensation | Share-Based Compensation The following tables summarize the activity during the period under the Company's 2014 Amended and Restated Stock Incentive Plan (the “2014 Plan”) and 2021 Equity Incentive Plan (the “2021 Plan”). Restricted Stock Awards
| Number of shares |  | Weighted average grant date fair value
Unvested at December 31, 2024 | 503,894 |  |  | $ | 8.55 |
Granted | 228,539 |  |  | 6.12 |
Vested | (95,335) |  |  | 9.44 |
Vested shares forgone to satisfy minimum statutory withholding | (53,440) |  |  | 9.44 |
Forfeitures | (73,444) |  |  | 7.18 |
Unvested at September 30, 2025 | 510,214 |  |  | $ | 7.40 |
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
Weighted average grant date fair value of awards granted | $ | 10.78 |  |  | $ | 6.90 |  |  | $ | 6.12 |  |  | $ | 7.51 |
Total fair value of shares vested | $ | — |  |  | $ | 2,636 |  |  | $ | 678,591 |  |  | $ | 750,298 |
Total fair value of shares forgone to satisfy minimum statutory withholding | $ | — |  |  | $ | 814 |  |  | $ | 380,389 |  |  | $ | 465,020 |
Performance-Based Restricted Stock Units (“PSU”)
| Number of shares |  | Weighted average grant date fair value
Unvested at December 31, 2024 | 189,221 |  |  | $ | 7.92 |
Granted | 364,905 |  |  | 5.70 |
Vested | (30,325) |  |  | 3.19 |
Vested shares forgone to satisfy minimum statutory withholding | (19,675) |  |  | 3.19 |
Forfeitures | (121,324) |  |  | 9.17 |
Unvested at September 30, 2025 | 382,802 |  |  | $ | 6.03 |
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
Weighted average grant date fair value of awards granted | $ | 5.70 |  |  | $ | — |  |  | $ | 5.70 |  |  | $ | 5.69 |
Total fair value of shares vested | $ | 96,737 |  |  | $ | — |  |  | $ | 96,737 |  |  | $ | 83,862 |
Total fair value of shares forgone to satisfy minimum statutory withholding | $ | 62,763 |  |  | $ | — |  |  | $ | 62,763 |  |  | $ | 67,137 |
Stock Options
2014 Plan (Options) |  | Number of Authorized Shares |  | Weighted- Average Exercise Price |  | Weighted- Average Remaining Contractual Term (in Years) |  | Aggregate Intrinsic Value
Outstanding at December 31, 2024 |  | 535,667 |  |  | $ | 7.00 |  |  | 3.57 |  | $ | 1,588,137 |
Exercised |  | (49,259) |  |  | 2.59 |  |  |  |  |
Exercised shares forgone to satisfy minimum statutory withholding |  | (27,852) |  |  | 2.58 |  |  |  |  |
Shares tendered for cashless exercise |  | (32,889) |  |  | 2.53 |  |  |  |  |
Forfeitures and expirations |  | (75,750) |  |  | 8.34 |  |  |  |  |
Outstanding at September 30, 2025 |  | 349,917 |  |  | $ | 8.09 |  |  | 3.85 |  | $ | 1,228,854 |
Exercisable at September 30, 2025 |  | 349,917 |  |  | $ | 8.09 |  |  | 3.85 |  | $ | 1,228,854 |
Aggregate Intrinsic Value is equal to the excess of market value over the option exercise price of all in-the-money stock options.
2021 Plan (Options) |  | Number of Authorized Shares |  | Weighted- Average Exercise Price |  | Weighted- Average Remaining Contractual Term (in Years) |  | Aggregate Intrinsic Value
Outstanding at December 31, 2024 |  | 1,840,786 |  |  | $ | 8.93 |  |  | 8.54 |  | $ | 1,504,894 |
Granted |  | 869,421 |  |  | 6.04 |  |  |  |  |
Exercised |  | (12,549) |  |  | 8.22 |  |  |  |  |
Exercised shares forgone to satisfy minimum statutory withholding |  | (177,214) |  |  | 8.39 |  |  |  |  |
Shares tendered for cashless exercise |  | (14,356) |  |  | 7.09 |  |  |  |  |
Forfeitures and expirations |  | (236,755) |  |  | 8.06 |  |  |  |  |
Outstanding at September 30, 2025 |  | 2,269,333 |  |  | $ | 7.98 |  |  | 8.45 |  | $ | 6,671,470 |
Exercisable at September 30, 2025 (a) |  | 895,560 |  |  | $ | 9.94 |  |  | 7.46 |  | $ | 1,659,002 |
The following is the average fair value per share estimated on the date of grant and the assumptions used for options granted:
|  | Three Months Ended September 30, |  | Nine Months Ended September 30,
Stock Options: |  | 2025 |  | 2024 |  | 2025 |  | 2024
Expected volatility |  | —% |  | —% |  | 46% to 50% |  | 46% to 51%
Risk free interest rate |  | —% |  | —% |  | 3.87% to 4.01% |  | 4.25% to 4.60%
Expected lives at date of grant (in years) |  | 0.00 |  | 0.00 |  | 4.27 |  | 4.08
Weighted average fair value of options granted |  | $— |  | $— |  | $2.73 |  | $2.95
Total intrinsic value of options exercised |  | $836,616 |  | $— |  | $926,116 |  | $312,195

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