Stock-Based Compensation (Tables)

9 Months Ended

Sep. 30, 2025

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Schedule of Estimated Grant-Date Fair Value of Stock-Based Awards Using Black-Scholes Option Pricing Model Assumptions

The following table presents, on a weighted-average basis, the assumptions used in the Black-Scholes option-pricing model to determine the grant date fair value of stock purchase rights granted under the 2021 ESPP during the periods presented:

	Nine Months Ended September 30,
	2025	2024
Expected volatility	39.42 % - 42.14%	49.59% - 50.14%
Risk-free interest rate	4.30% - 4.44%	5.38% - 5.41%
Expected term (in years)	0.49 - 0.50	0.49 - 0.50
Expected dividend yield	None	None

Time Vesting Options

The following table presents, on a weighted-average basis, the assumptions used in the Black-Scholes option-pricing model to determine the grant date fair value of Time Vesting Options granted under the 2021 Plan during the periods presented:

	Nine Months Ended September 30,
	2025	2024
Expected volatility	46.74%	45.98%
Risk-free interest rate	4.07%	4.52%
Expected term (in years)	6.0	6.0
Expected dividend yield	None	None

Summary of Stock Option Activity

A summary of our stock option activity during the period presented is as follows:

	Time Vesting Options			Performance Vesting Options			Total Number of Stock Options			Weighted-Average Exercise Price
Outstanding as of December 31, 2024		9,137,994			1,897,467			11,035,461		$	5.70
Granted		1,583,512			—			1,583,512		$	7.08
Exercised		(1,122,743	)		(691,155	)		(1,813,898	)	$	1.43
Forfeited		(299,338	)		—			(299,338	)	$	8.91
Outstanding as of September 30, 2025		9,299,425			1,206,312			10,505,737		$	6.55
Options vested or expected to vest as of September 30, 2025		8,854,931			1,206,312			10,061,243		$	9.16
Options exercisable as of September 30, 2025		5,782,380			1,206,312			6,988,692		$	5.83

Schedule of Weighted Average Grant Date Fair Value of Stock Options

The number and weighted-average grant date fair value of stock options during the period presented are as follows:

	Number of Stock Options					Weighted-Average Grant Date Fair Value
	Time Vesting Options			Performance Vesting Options		Time Vesting Options		Performance Vesting Options
Unvested as of December 31, 2024		3,544,956			—	$	4.05		—
Granted		1,583,512			—	$	3.56		—
Vested		(1,450,382	)		—	$	4.12		—
Forfeited		(166,713	)		—	$	4.04		—
Unvested as of September 30, 2025		3,511,373			—	$	3.80		—

Summary of Restricted Stock Activity

A summary of our RSU activity during the period presented is as follows:

	Restricted Stock Units			Weighted-Average Grant Date Fair Value
Unvested as of December 31, 2024		4,812,481		$	8.10
Granted		3,037,300			7.08
Vested		(1,835,398	)		8.56
Forfeited		(612,792	)		7.38
Unvested as of September 30, 2025		5,401,591		$	7.45

Summary of Stock-Based Compensation Expense

Total stock-based compensation expense, by caption, recorded in the consolidated statements of operations and comprehensive income for the periods presented is as follows:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2025		2024		2025		2024
Cost of labor and chemicals	$	2,800	$	2,719	$	8,376	$	7,657
General and administrative		3,773		3,972		11,517		11,186
Total stock-based compensation expense	$	6,573	$	6,691	$	19,893	$	18,843

Total stock-based compensation expense, by award type, recorded in the consolidated statements of operations and comprehensive income for the periods presented is as follows:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2025		2024		2025		2024
Time Vesting Options	$	1,515	$	1,607	$	4,889	$	4,566
RSUs		4,886		4,897		14,448		13,652
2021 ESPP		172		187		556		625
Total stock-based compensation expense	$	6,573	$	6,691	$	19,893	$	18,843