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Stock-Based Compensation (Tables)
6 Months Ended
Jun. 30, 2023
Share-Based Payment Arrangement [Abstract]  
Summary Of Stock-Based Compensation Expense
Stock-based compensation expense is recognized in cost of revenues, corporate technology and production systems, and selling, general and administrative expense in the accompanying unaudited condensed consolidated statements of operations and comprehensive income as follows:
 Three Months Ended
June 30,
Six Months Ended
June 30,
(in thousands)2022202320222023
Stock-based compensation expense    
Cost of revenues$411 $394 $824 $822 
Corporate technology and production systems499 605 1,030 1,217 
Selling, general and administrative5,113 8,359 9,277 15,362 
Total stock-based compensation expense$6,023 $9,358 $11,131 $17,401 
Share-based Payment Arrangement, Option, Activity
The table below provides a summary of service-based vesting options (“SVOs”) and performance-based stock options (“PSOs”) currently outstanding under the 2015 Plan for the six months ended June 30, 2023:
Outstanding SVOsOutstanding PSOs
Number of
Shares
Weighted
Average
Exercise
Price
Weighted
Average
Remaining
Contractual
Life
(years)
Aggregate
Intrinsic
Value
Number of
Shares
Weighted
Average
Exercise
Price
Weighted
Average
Remaining
Contractual
Life
(years)
Aggregate
Intrinsic
Value
(in thousands, except shares and per share amounts)
Balances as of December 31, 2022
6,208,274 $9.59 5.00$36,513 3,081,855 $10.05 3.32$16,699 
Granted— — — — 
Forfeited / Cancelled— — — — 
Exercised(63,336)9.66 201 — — — 
Balances as of June 30, 2023 (1)
6,144,938 $9.59 4.48$16,419 3,081,855 $10.05 2.82$6,806 
__________
(1)    All SVOs and PSOs are exercisable as of June 30, 2023.
The table below provides a summary of stock option activity under the 2021 Equity Plan for the six months ended June 30, 2023:
Number of SharesWeighted Average Exercise PriceWeighted Average Contractual Term (in years)Aggregate Intrinsic ValueWeighted Average Fair Value
(per share)
Outstanding at December 31, 2022
4,387,501 $22.91 8.81$— 
Granted909,431 12.77 $7.03 
Forfeited / Cancelled— — 
Exercised / Released— — — 
Outstanding at June 30, 2023
5,296,932 $21.17 8.55$— 
Exercisable at June 30, 2023
102,995 $22.61 8.50$— 
Share-based Payment Arrangement, Restricted Stock Activity
The table below provides a summary of restricted stock activity under the 2021 Equity Plan for the six months ended June 30, 2023:
Number of SharesWeighted Average Fair Value
(per share)
Unvested at December 31, 2022
3,421,920 $20.32 
Granted2,153,406 12.92 
Forfeited / Cancelled(179,989)20.49 
Vested(174,084)19.61 
Unvested at June 30, 2023
5,221,253 $17.28 
The
table below provides a summary of RSU activity under the 2021 Equity Plan for the six months ended June 30, 2023:
Number of SharesWeighted Average Fair Value
(per share)
Unvested at December 31, 2022
51,249 $21.18 
Granted27,279 12.32 
Forfeited / Cancelled(2,378)23.00 
Vested(1,224)22.35 
Unvested at June 30, 2023
74,926 $17.88