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Equity-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2025
Share-Based Payment Arrangement [Abstract]  
Disclosure of Share-Based Compensation Arrangements by Share-Based Payment Award
The following tables present RSU activity:
Grant Date Fair Value
Non-LTIP RSUsNumber of Units UnvestedNumber of Units VestedTotal Number of UnitsWeighted Average Price Per UnitTotal Fair Value (in thousands)
Outstanding, December 31, 2024
1,298,877  1,298,877 $10.72 $13,922 
Granted473,592  473,592 20.94 9,917 
Vested(566,700)566,700    
Forfeited(34,175) (34,175)14.40 (492)
Settled (566,700)(566,700)10.92 (6,187)
Outstanding, December 31, 2025
1,171,594  1,171,594 $14.65 $17,160 
Grant Date Fair Value
Earnout Right RSUsNumber of Units UnvestedNumber of Units VestedTotal Number of Units Weighted Average Price Per UnitTotal Fair Value (in thousands)
Outstanding, December 31, 2024 and December 31, 2025
145,800  145,800 $89.05 $12,984 
Share-Based Payment Arrangement, Option, Activity
The following table presents the option award activity:
Number of OptionsWeighted Average Exercise PriceWeighted Average Remaining Contractual Term (in years)Aggregate Intrinsic Value (in thousands)
Outstanding, December 31, 2024
720,000 $25.00 4.8$2,246 
Granted770,000 25.00 
Outstanding, December 31, 2025
1,490,000 $25.00 4.4$ 
Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions
The Company estimated the fair value of the options at the date of grant using the Black-Scholes option pricing model based on the following inputs:
Year ended
December 31,
20252024
Expected volatility65.3 %75.0 %
Expected dividend yield0.0 %0.0 %
Risk-free interest rate3.7 %4.2 %
Expected term (in years)5.05.0