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Stockholders' Equity (Tables)
12 Months Ended
Dec. 31, 2025
Equity [Abstract]  
Schedule of changes in warrant liability
A reconciliation of the changes in the warrant liability during the years ended December 31, 2024 and 2023 was as follows (in thousands):
Estimated fair value of warrant liability at December 31, 2022$38,503 
Change in estimated fair value of the warrant liability(34,482)
Estimated fair value of warrant liability at December 31, 20234,021 
Change in estimated fair value of the warrant liability(4,021)
Estimated fair value of warrant liability at December 31, 2024$— 
Schedule of outstanding stock option activity The following table provides the activity regarding the Company’s outstanding stock options during the years ended December 31, 2025, 2024 and 2023 that were granted in connection with the 2019 Plan (in thousands, except per share data):
Number of
Options
Weighted-Average
Grant Date
Fair Value
per Share
Weighted-Average
Exercise Price
per Share
Weighted-Average
Remaining
Contractual Term
Outstanding, December 31, 20222,219$3.75 $19.36 
Activity - none
Outstanding, December 31, 20232,219$3.75 $19.36 
Expired(969)
Outstanding, December 31, 20241,250$2.12 $11.50 
Expired(1,250)$2.12 $11.50 
Outstanding, December 31, 2025$— $— 
The following table provides the activity for all outstanding stock options during the years ended December 31, 2025, 2024 and 2023 (in thousands, except per share data):
Number of
Options
Weighted-Average
Exercise Price
per Share
Weighted-Average
Remaining
Contractual Term
Outstanding, December 31, 20224,962$12.19 
Exercised(1,553)$6.24 
Outstanding, December 31, 20233,409$14.90 
Exercised(245)$3.97 
Expired(969)$29.51 
Outstanding, December 31, 20242,195$9.67 
Expired(1,250)$11.50 
Outstanding, December 31, 2025945$7.24 3.1 Years
Schedules of exercisable and unexercisable stock option activity
The following table provides the activity for exercisable stock options during the years ended December 31, 2025, 2024, and 2023 (in thousands, except per share data):
Number of
Options
Weighted-Average
Exercise Price
per Share
Weighted-Average
Remaining
Contractual Term
Exercisable, December 31, 20224,649$9.73 
Vested234$48.72 
Exercised(1,553)$6.24 
Exercisable, December 31, 20233,330$14.10 
Vested79$48.72 
Exercised(245)$3.97 
Expired(969)$29.51 
Exercisable, December 31, 20242,195$9.67 
Vested$— 
Exercised$— 
Expired(1,250)$11.50 
Exercisable, December 31, 2025945$7.24 3.1 Years
The following table provides the activity for unexercisable stock options during the years ended December 31, 2024 and 2023 (in thousands, except per share data):
Number of
Options
Weighted-Average
Exercise Price
per Share
Weighted-Average
Remaining
Contractual Term
Unexercisable, December 31, 2022313$48.72 
Vested(234)$48.72 
Unexercisable, December 31, 202379$48.72 
Vested(79)$48.72 
Unexercisable, December 31, 2024— $— 
Schedule of restricted stock activity
Activity related to the Company’s non-vested restricted stock units for the years ended December 31, 2025, 2024 and 2023 is presented below (in thousands, except per share data):
Number of Shares of
Restricted Stock
Weighted-Average Grant Date
Fair Value per Share
Non-vested balance, December 31, 20222,261$23.90 
Granted1,311$13.85 
Vested(1,063)$19.59 
Forfeited(441)$25.95 
Non-vested balance, December 31, 20232,068$19.16 
Granted3,220$12.07 
Vested(840)$37.25 
Forfeited(1,370)$15.00 
Non-vested balance, December 31, 20243,078$13.99 
Granted2,507$12.40 
Vested(1,017)$12.86 
Forfeited(551)$16.52 
Non-vested balance, December 31, 20254,017$12.95 
Equity-based compensation expense
The table below presents the equity-based compensation expense recognized during the years ended December 31, 2025, 2024 and 2023, as well as the classification of amounts in the consolidated statements of operations (in thousands):
Year Ended December 31,
202520242023
General and administrative expense$17,777 $11,290 $17,667 
Cost of net revenue4,099 3,590 4,801 
Total$21,876 $14,880 $22,468