Restructuring Charges |
9 Months Ended |
|---|---|
Sep. 30, 2025 | |
| Restructuring and Related Activities [Abstract] | |
| Restructuring Charges | (18) Restructuring Charges From August 12, 2024 through December 31, 2024, the Company developed a plan for a restructuring of certain aspects of its operations and organization (the “Reorganization Plan”). The Reorganization Plan included the entry into the Termination Agreement, the termination and settlement of the TRA, a reduction in force, an issuance of securities to One Planet Group, the appointment of a new CEO and new members of the Company’s Board of Directors, and other cost savings initiatives along with a review of expenses and business processes. During the three and nine months ended September 30, 2024, the Company incurred $7.0 million in restructuring charges, which consisted of $2.6 million of cash restructuring charges and $4.4 million of non-cash restructuring charges, which are included in restructuring charges in the Condensed Consolidated Statements of Operations and Comprehensive (Loss) Income. Through September 30, 2024, the Company paid $1.3 million of the cash restructuring charges in connection with the Reorganization Plan and the remaining unpaid restructuring charges were $1.3 million as of September 30, 2024 and are included in accounts payable and accrued liabilities within the Condensed Consolidated Balance Sheets. As of December 31, 2024, the Company owed $0.4 million in unpaid restructuring charges that were included in accounts payable and accrued liabilities within the Consolidated Balance Sheets. Through September 30, 2025, the Company paid all remaining cash restructuring charges in connection with the Reorganization Plan. As part of the Termination Agreement, the Company agreed to pay a termination fee of $6.6 million, subject to certain adjustments, payable in installments from August 2024 to March 2025. As of September 30, 2025, the Company has paid the remaining $2.6 million portion of the termination fee that was owed as of December 31, 2024. See Note 8 – Leases for additional information.
|