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Stock-Based Compensation
 6 Months Ended
Jun. 30, 2025
Share-Based Payment Arrangement [Abstract]  
Stock-Based Compensation Stock-Based Compensation
Stock-based compensation expense for each employee and director is presented in the same statement of operations caption as their cash compensation. Stock-based compensation expense by statement of operations caption and the related income tax benefit were as follows:
Three Months Ended June 30,Six Months Ended June 30,
(In thousands)2025202420252024
Cost of sales$12 $20 $28 $47 
Research and development expenses124 142 282 373 
Selling, general and administrative expenses:
Employees
1,217 1,204 2,493 2,755 
Outside directors
296 94 630 189 
Total employee and director stock-based compensation expense$1,649 $1,460 $3,433 $3,364 
Income tax benefit$185 $220 $432 $507 

Restricted Stock

Non-vested restricted stock award activity was as follows:
Shares
(in thousands)		Weighted-Average Grant Date Fair Value
Non-vested at December 31, 2024
595 $13.07 
Granted220 6.70 
Vested(321)14.96 
Forfeited(33)10.16 
Non-vested at June 30, 2025
461 $8.94 

As of June 30, 2025, we expect to recognize $3.7 million of total unrecognized pre-tax stock-based compensation expense related to non-vested restricted stock awards over a weighted-average life of 2.1 years.

Performance Stock

Non-vested performance stock award activity was as follows:
Shares
(in thousands)		Weighted-Average Grant Date Fair Value
Non-vested at December 31, 2024
116 $4.72 
Granted284 2.24 
Vested— — 
Forfeited— — 
Non-vested at June 30, 2025
400 $2.96 
The assumptions we utilized in the Monte Carlo simulation model and the resulting weighted average fair value of performance stock grants were the following:
 Three Months Ended June 30,Six Months Ended June 30,
 2025202420252024
Weighted average fair value of grants$2.24 $— $2.24 $4.72 
Risk-free interest rate3.84 %— %3.84 %4.08 %
Expected volatility58.00 %— %58.00 %57.00 %
Expected life in years2.630.002.632.73

As of June 30, 2025, we expect to recognize $0.8 million of total unrecognized pre-tax stock-based compensation expense related to non-vested performance stock awards over a weighted-average period of 2.1 years.

Stock Options

Stock option activity was as follows:    
Number of Options
(in thousands)		Weighted-Average Exercise PriceWeighted-Average Remaining Contractual Term
(in years)		Aggregate Intrinsic Value
(in thousands)
Outstanding at December 31, 2024
779 $35.67 
Granted— — 
Exercised— — $— 
Forfeited/canceled/expired(88)$44.95 
Outstanding at June 30, 2025 (1)
691 $34.50 3.00$— 
Vested and expected to vest at June 30, 2025 (1)
691 $34.50 3.00$— 
Exercisable at June 30, 2025 (1)
663 $34.90 2.91$— 
(1)The aggregate intrinsic value represents the total pre-tax value (the difference between our closing stock price on the last trading day of the first quarter of 2025 and the exercise price, multiplied by the number of in-the-money options) that would have been received by the option holders had they all exercised their options on June 30, 2025. This amount will change based on the fair market value of our stock.

As of June 30, 2025, we expect to recognize $0.2 million of total unrecognized pre-tax stock-based compensation expense related to non-vested stock options over a remaining weighted-average life of 0.6 years.