v3.25.3
SHARE-BASED COMPENSATION (Tables)
 9 Months Ended
Sep. 30, 2025
Share-Based Payment Arrangement [Abstract]  
Schedule of Share-based Compensation and Benefits
The Company recognized total share-based compensation in Compensation and benefits on the condensed consolidated statements of operations for the following categories of awards as follows (in thousands):
Three Months Ended September 30,Nine Months Ended September 30,
2025202420252024
Service-based RSUs$6,690 $9,308 $23,040 $25,665 
Performance-based RSUs2,384 903 5,696 4,674 
Common stock, fully-vested— — — 1,526 
Total share-based compensation expense$9,074 $10,211 $28,736 $31,865 
Schedule of Unvested RSU Activity
A summary of the Company's unvested Service-Based RSU activity for the nine months ended September 30, 2025 is shown below:
Number of Shares
Weighted Average Grant Date Fair Value
Unvested at December 31, 202415,922,220$2.65 
Granted4,270,421$4.18 
Vested(1)
(4,362,994)$2.57 
Unvested at September 30, 202515,829,647$3.08 
(1) Does not include RSUs that have not settled as of September 30, 2025
Schedule of Grant Date Fair Value of 2025 Performance-Based RSUs
The grant date fair value of the 2025 Performance-Based RSUs was measured using a Monte Carlo simulation model based on the following assumptions:
Risk-free interest rate4.14%
Expected volatility111.5%