XML 23 R17.htm IDEA: XBRL DOCUMENT
v3.26.1

The Company and Significant Accounting Policies (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2026
Accounting Policies [Abstract] |
Summary of Cash and Cash Equivalents and Restricted Cash | The Company's cash and cash equivalents and restricted cash, as presented in the Condensed Consolidated Statements of Cash Flows, was as follows (in thousands):
| As of June 30, |
| 2026 |  |  | 2025 |
Cash and cash equivalents | $ | 80,794 |  |  | $ | 64,508 |
Restricted cash |  | 800 |  |  |  | 791 |
Total as presented in the Condensed Consolidated Statements of Cash Flows | $ | 81,594 |  |  | $ | 65,299 |
Summary of Non-Vested RSUs Activity | During the six-month period ended June 30, 2026, the Company had the following non-vested RSUs activity (in thousands, except grant date fair value data):
|  | Number of RSUs |  |  | Weighted-Average Grant Date Fair Value |
Nonvested balance at December 31, 2025 |  |  | 6,270 |  |  | $ | 3.31 |
Granted |  |  | 6,942 |  |  |  | 3.61 |
Vested |  |  | (392 | ) |  |  | 3.14 |
Forfeited or cancelled |  |  | (404 | ) |  |  | 3.06 |
Nonvested balance at June 30, 2026 |  |  | 12,416 |  |  |  | 3.49 |
Summary of Valuation Model at Time of Award Issuance | The unobservable significant inputs to the valuation model at the time of award issuance were as follows:
|  | 2026 PSUs |
Stock price at issuance |  | $ | 3.37 |
Expected volatility |  |  | 61.0 | %
Risk-free interest rate |  |  | 3.77 | %
Expected term |  |  | 5.0 |
Expected dividend yield |  |  | 0 | %
Summary of Non-Vested PSUs Activity | During the six-month period ended June 30, 2026, the Company had the following non-vested PSUs activity (in thousands, except grant date fair value data):
|  | Number of PSUs |  |  | Weighted-Average Grant Date Fair Value |
Nonvested balance at December 31, 2025 |  |  | 2,590 |  |  | $ | 2.57 |
Granted |  |  | 200 |  |  |  | 2.97 |
Vested |  |  | (146 | ) |  |  | 2.44 |
Forfeited or cancelled |  |  | (307 | ) |  |  | 2.48 |
Nonvested balance at June 30, 2026 |  |  | 2,337 |  |  |  | 2.63 |
Reconciliation of Basic and Diluted Income (Loss) Per Share | The following table illustrates the reconciliation of the basic and diluted income (loss) per share (in thousands, except share and per share data):
|  | Three-Month Period |  |  | Six-Month Period |
|  | Ended June 30, |  |  | Ended June 30, |
|  | 2026 |  |  | 2025 |  |  | 2026 |  |  | 2025 |
Numerator: |  |  |  |  |  |  |  |  |  |  |  |
Net income (loss) from continuing operations |  | $ | 19,686 |  |  | $ | (3,500 | ) |  | $ | 32,046 |  |  | $ | (51,275 | )
Net income (loss) from discontinued operations, net of tax |  |  | - |  |  |  | 163 |  |  |  | - |  |  |  | (28 | )
Net income (loss) attributable to common stockholders |  | $ | 19,686 |  |  | $ | (3,337 | ) |  | $ | 32,046 |  |  | $ | (51,303 | )
Basic earnings per share: |  |  |  |  |  |  |  |  |  |  |  |
Denominator: |  |  |  |  |  |  |  |  |  |  |  |
Weighted average common shares outstanding |  |  | 92,113,571 |  |  |  | 90,976,288 |  |  |  | 92,049,879 |  |  |  | 90,976,288 |
Per share: |  |  |  |  |  |  |  |  |  |  |  |
Income (loss) per share from continuing operations |  | $ | 0.21 |  |  | $ | (0.04 | ) |  | $ | 0.35 |  |  | $ | (0.56 | )
Income (loss) per share from discontinued operations, net of tax |  |  | - |  |  |  | 0.00 |  |  |  | - |  |  |  | (0.00 | )
Net income (loss) per share attributable to common stockholders |  | $ | 0.21 |  |  | $ | (0.04 | ) |  | $ | 0.35 |  |  | $ | (0.56 | )
Diluted earnings per share: |  |  |  |  |  |  |  |  |  |  |  |
Denominator: |  |  |  |  |  |  |  |  |  |  |  |
Weighted average common shares outstanding |  |  | 92,113,571 |  |  |  | 90,976,288 |  |  |  | 92,049,879 |  |  |  | 90,976,288 |
Dilutive securities: |  |  |  |  |  |  |  |  |  |  |  |
Restricted stock units |  |  | 10,744,035 |  |  |  | - |  |  |  | 7,589,368 |  |  |  | - |
Diluted shares outstanding |  |  | 102,857,606 |  |  |  | 90,976,288 |  |  |  | 99,639,247 |  |  |  | 90,976,288 |
Per share: |  |  |  |  |  |  |  |  |  |  |  |
Income (loss) per share from continuing operations |  | $ | 0.19 |  |  | $ | (0.04 | ) |  | $ | 0.32 |  |  | $ | (0.56 | )
Income (loss) per share from discontinued operations, net of tax |  |  | - |  |  |  | 0.00 |  |  |  | - |  |  |  | (0.00 | )
Net income (loss) per share attributable to common stockholders |  | $ | 0.19 |  |  | $ | (0.04 | ) |  | $ | 0.32 |  |  | $ | (0.56 | )
Summary of Activity in Restructuring Liability | The following table rolls forward the activity in the restructuring liability:
(in thousands) |  |  |  |
Beginning balance at December 31, 2025 |  | $ | 72 |  |
Additional restructuring and related costs |  |  | 983 |  |
Non-cash charge (included above) |  |  | (38 | ) |
Cash payments |  |  | (1,017 | ) |
Ending balance June 30, 2026 |  | $ | - |  |
The
Financial Assets and Liabilities Measured at Fair Value on Recurring and Nonrecurring Basis | The following table presents the Company’s financial assets and liabilities measured at fair value on a recurring and nonrecurring basis in the condensed consolidated balance sheets (in millions):
|  | June 30, 2026 |
|  | Total Fair Value and Carrying Value on Balance Sheet |  |  | Fair Value Measurement Category |  |  |  |
Recurring fair value measurements |  |  |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total Gains (Losses) |
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Money market account |  | $ | 0.6 |  |  | $ | 0.6 |  |  |  | — |  |  |  | — |  |  |  |
Corporate bonds and notes |  | $ | 2.6 |  |  |  | — |  |  | $ | 2.6 |  |  |  | — |  |  |  |
|  | December 31, 2025 |
|  | Total Fair Value and Carrying Value on Balance Sheet |  |  | Fair Value Measurement Category |  |  |  |
Recurring fair value measurements |  |  |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total Gains (Losses) |
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Money market account |  | $ | 1.3 |  |  | $ | 1.3 |  |  |  | — |  |  |  | — |  |  |  |
Corporate bonds and notes |  | $ | 3.8 |  |  |  | — |  |  | $ | 3.8 |  |  |  | — |  |  |  |
Nonrecurring fair value measurements: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
FCC licenses |  | $ | 62.3 |  |  |  | — |  |  |  | — |  |  |  | 62.3 |  | $ | (26.0 | )
Summary of Amortized Cost and Unrealized Gains (Losses) of Available for Sale Securities | As of June 30, 2026, the following table summarizes the amortized cost and the unrealized gains (losses) of the available for sale securities (in thousands):
|  | Corporate Bonds and Notes |
|  | Amortized Cost |  |  | Unrealized gains (losses) |
Due within a year |  | $ | 482 |  |  | $ | 2 |
Due after one year |  |  | 2,091 |  |  |  | 12 |
Total |  | $ | 2,573 |  |  | $ | 14 |
Summary of Components of AOCI | The following table provides a roll-forward of accumulated other comprehensive income (loss) (in thousands):
|  | Foreign Currency Translation |  |  | Marketable Securities |  |  | Total |
Accumulated other comprehensive income (loss) as of December 31, 2025 |  | $ | (1,250 | ) |  | $ | 495 |  |  | $ | (755 | )
Other comprehensive income (loss) |  |  | - |  |  |  | (35 | ) |  |  | (35 | )
Income tax (expense) benefit |  |  | - |  |  |  | 11 |  |  |  | 11 |
Amounts reclassified from AOCI |  |  | - |  |  |  | (8 | ) |  |  | (8 | )
Other comprehensive income (loss), net of tax |  |  | - |  |  |  | (32 | ) |  |  | (32 | )
Accumulated other comprehensive income (loss) as of March 31, 2026 |  |  | (1,250 | ) |  |  | 463 |  |  |  | (787 | )
Other comprehensive income (loss) |  |  | - |  |  |  | 16 |  |  |  | 16 |
Income tax (expense) benefit |  |  | - |  |  |  | (3 | ) |  |  | (3 | )
Amounts reclassified from AOCI |  |  | - |  |  |  | (3 | ) |  |  | (3 | )
Other comprehensive income (loss), net of tax |  |  | - |  |  |  | 10 |  |  |  | 10 |
Accumulated other comprehensive income (loss) as of June 30, 2026 |  | $ | (1,250 | ) |  | $ | 473 |  |  | $ | (777 | )

X
- References No definition available. + Details
Name: | us-gaap_AccountingPoliciesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481800/320-10-50-3 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481800/320-10-50-9 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481800/320-10-50-2 Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481800/320-10-50-2 Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481800/320-10-50-2 Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (aa) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481800/320-10-50-2 Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (aaa) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481800/320-10-50-2 Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481800/320-10-50-2 Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481800/320-10-50-3 Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481800/320-10-50-3 Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481800/320-10-50-3 Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481800/320-10-50-3 + Details
Name: | us-gaap_DebtSecuritiesAvailableForSaleTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of financial instrument measured at fair value on recurring or nonrecurring basis. Includes, but is not limited to, instrument classified in shareholders' equity. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 3: http://www.xbrl.org/2003/role/exampleRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 100 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482078/820-10-55-100 Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-3 + Details
Name: | us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the changes in outstanding nonvested restricted stock shares. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Subparagraph (c) -Paragraph 2 -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_NonvestedRestrictedStockSharesActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of accumulated other comprehensive income (loss). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 14A -Publisher FASB -URI https://asc.fasb.org/1943274/2147482790/220-10-45-14A Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 830 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481674/830-30-50-1 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 830 -SubTopic 30 -Name Accounting Standards Codification -Section 45 -Paragraph 20 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481694/830-30-45-20 + Details
Name: | us-gaap_ScheduleOfAccumulatedOtherComprehensiveIncomeLossTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482662/260-10-50-1 + Details
Name: | us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of cash and cash equivalents restricted as to withdrawal or usage. + References Reference 1: http://www.xbrl.org/2003/role/recommendedDisclosureRef -Topic 230 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 8 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482913/230-10-50-8 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 944 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03(a)(2)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147478777/944-210-S99-1 + Details
Name: | us-gaap_ScheduleOfRestrictedCashAndCashEquivalentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of costs incurred for restructuring including, but not limited to, exit and disposal activities, remediation, implementation, integration, asset impairment, and charges against earnings from the write-down of assets. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 5.P.4) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479823/420-10-S99-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482017/420-10-50-1 + Details
Name: | us-gaap_ScheduleOfRestructuringAndRelatedCostsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_ScheduleOfShareBasedCompensationRestrictedStockUnitsAwardActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of employee stock purchase plans, including, but not limited to: (a) expected term, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 718 -SubTopic 50 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/718-50/tableOfContent Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Subparagraph (f)(2) -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_ScheduleOfShareBasedPaymentAwardEmployeeStockPurchasePlanValuationAssumptionsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration