v3.26.1
STOCKHOLDERS' EQUITY (Tables)
 12 Months Ended
Dec. 31, 2025
Stockholders' Equity Note [Abstract]  
Schedule of Stock Repurchases
The following table details our stock repurchases under the 2024 Stock Repurchase Program during the years ended December 31, 2025 and 2024.
Year Ended December 31, 2025Year Ended December 31, 2024
Class AClass DClass AClass D
Shares of common stock repurchased(1)
85,188 113,575 285,084 119,161 
Average price paid per share(1)
$15.77 $7.30 $17.70 $12.20 
Total cost$1,343,784 $829,522 $5,049,396 $1,448,958 
(1) Adjusted retroactively for the Reverse Stock Split, refer to Note 2 - Summary Of Significant Accounting Policies.
Schedule of BSM using Weighted-Average Assumptions
These fair values were derived using the Black-Scholes model with the following weighted-average assumptions:
For the Years Ended December 31,
20252024
Average risk-free interest rate3.95%3.75%
Expected dividend yield—%—%
Expected term5.07 years4.48 years
Expected volatility84.81%77.82%
Schedule of Transaction and Other Information Relating to Stock Options
Transactions and other information relating to stock options of Class D Common Stock for the years ended December 31, 2025 and 2024 are summarized below:
Number of
Options(a)
Weighted-Average
Exercise Price(a)
Weighted-Average
Remaining
Contractual Term
(In Years)
Aggregate
Intrinsic
Value(b)
Outstanding at December 31, 2023522,414$29.04 5.28$5,021,952 
Grants142,80423.82 — — 
Exercised—— — — 
Forfeited/cancelled/expired/settled(121,546)26.32 — — 
Outstanding at December 31, 2024543,672$28.27 6.44$— 
Grants67,8897.31 — — 
Exercised—— — — 
Forfeited/cancelled/expired/settled(21,476)26.36 — — 
Outstanding at December 31, 2025590,085$25.90 5.81$102,442 
Vested and expected to vest at December 31, 2025590,08525.90 5.8117,658 
Unvested at December 31, 202510,7076.94 9.6217,658 
Exercisable at December 31, 2025579,378 $26.25 5.74$84,784 
(a) Adjusted retroactively for the Reverse Stock Split, refer to Note 2 - Summary Of Significant Accounting Policies.
(b) The aggregate intrinsic value in the table above represents the difference between the Company’s stock closing price on the last day of trading during the period, and the exercise price, multiplied by the number of shares that would have been received by the holders of in-the-money options had all the option holders exercised their options on that day. This amount changes based on the fair market value of the Company’s stock.
Schedule of Transaction and Other Information Relating to Restricted Stock Grants
Activity relating to grants of restricted shares of Class D Common Stock for the years ended December 31, 2025 and 2024 are summarized below:
Shares(a)
Weighted-Average
Fair Value
at Grant
Date(a)
Unvested at December 31, 202331,312$47.73 
Grants189,93726.26 
Vested(129,866)36.86 
Forfeited/cancelled/expired(6,497)12.31 
Unvested at December 31, 202484,886$19.02 
Grants(b)
195,0667.13 
Vested(b)
(204,884)11.60 
Forfeited/cancelled/expired(8,942)11.20 
Unvested at December 31, 202566,126$7.99 
(a) Adjusted retroactively for the Reverse Stock Split, refer to Note 2 - Summary Of Significant Accounting Policies.
(b) Granted and vested shares include the settlement of stock-based compensation liability of $0.7 million for the year-ended December 31, 2025.