v3.26.1
Pay vs Performance Disclosure - USD ($)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Pay vs Performance Disclosure      
Pay vs Performance Disclosure, Table The following table provides the information required for our NEOs for each of the fiscal years ended December 31, 2025, December 31, 2024 and December 31, 2023, along with the financial information required for each fiscal year:

Year

Summary compensation table total CEO ($)(1)(2)

Compensation actually paid to CEO ($)(1)(3)

Average summary compensation table total for non-CEO NEOs ($) (2)(4)

Average compensation actually paid to non-CEO NEOs(3)(4)

Value of Initial Fixed $100 Investment based on Total shareholder return($)(5)

Net Income (in millions) ($)

Company-Selected Measure: Adjusted EBITDA ($ in millions)(6)

 

2025

 

415,625

 

415,625

 

60,227

 

60,227

 

0.00

 

(23,698)

 

(9,625)

 

2024

 

300,000

 

300,000

 

250,000

 

250,000

 

0.01

 

(34,934)

 

(10,589)

 

2023

20,050,877

 

295,000

 

857,488

 

235,675

 

13.03

 

(51,373)

 

(16,999)

 

 

(1)
For each year shown the PEO was Trent A. Ward.
(2)
Amounts in this column represent the “Total Compensation” column set forth in the Summary Compensation Table (“SCT”) on page 18. See the footnotes to the SCT for further detail regarding the amounts in these columns.
(3)
The dollar amounts reported in these columns represent the amounts of “compensation actually paid.” The Amounts are computed in accordance with Item 402(v) of Regulation S-K by deducting and adding certain amounts from the “Total” column of the SCT:

 

 

 

 

 

 

 

 

 

 

Year

 

 

 

 

Executives

 

 

 

 

SCT
total
($)

 

Deduct grant
date fair value of stock
awards & option awards
($)

 

 

 

Add year-end fair value of
unvested
equity granted
in the year
($)

 

Add year-over-
year change
in fair value of
outstanding and
unvested equity
granted in prior
years
($)

 

Add fair value
as of vesting
date of equity
awards granted
and vested
in the year
($)

Add year-
over-year
change in fair
value of equity
awards granted
in prior years
that vested
in the year
($)

Deduct fair
value at the
end of the prior year of equity awards that failed to meet vesting conditions in the year ($)

2025

 

PEO

 

415,625

 

—

 

 

—

 

 

—

 

 

 

—

 

 

—

 

 

 

—

 

 

 

Non-PEO NEO's (average)

 

 

 

—

 

 

—

 

 

—

 

 

 

—

 

 

—

 

 

 

—

 

2024

 

PEO

 

 

300,000

 

—

 

—

 

 

—

 

 

 

—

 

 

—

 

 

 

—

 

 

 

Non-PEO NEOs (average)

 

250,000

 

—

 

—

 

 

—

 

 

 

—

 

 

—

 

 

 

—

 

2023

PEO

20,050,877

(19,755,877)

8,068,312

—

11,687,565

—

—

Non-PEO NEOs (average)

857,488

(621,813)

430,563

—

191,250

—

—

 

(4)
Non-CEO NEOs reflect the compensation of (i) Caleb Morgret, our non-CEO NEO for 2025, and (ii) Michael J. Madigan, our non-CEO NEO for 2024 and 2023.
(5)
Pursuant to SEC rules, the TSR figures assume an initial investment of $100 on the date of our initial public offering in May 2023.
Our company-selected measure is adjusted EBITDA. We calculate Adjusted EBITDA as net (loss) income adjusted to exclude: other expense (income), net; income tax expense (benefit); depreciation and amortization expense; stock-based compensation expense; impairment expense; reorganization, severance, exit, disposal and other costs associated with restructuring plans; vendor settlements; transaction related expenses; IPO related expenses; and other adjustment items that arise outside the ordinary course of our business. 		   
Company Selected Measure Name Adjusted EBITDA    
Named Executive Officers, Footnote
(1)
For each year shown the PEO was Trent A. Ward.
    
Peer Group Issuers, Footnote
(5)
Pursuant to SEC rules, the TSR figures assume an initial investment of $100 on the date of our initial public offering in May 2023.
    
PEO Total Compensation Amount $ 415,625 $ 300,000 $ 20,050,877
PEO Actually Paid Compensation Amount $ 415,625 300,000 295,000
Adjustment To PEO Compensation, Footnote

 

 

 

 

 

 

 

 

 

Year

 

 

 

 

Executives

 

 

 

 

SCT
total
($)

 

Deduct grant
date fair value of stock
awards & option awards
($)

 

 

 

Add year-end fair value of
unvested
equity granted
in the year
($)

 

Add year-over-
year change
in fair value of
outstanding and
unvested equity
granted in prior
years
($)

 

Add fair value
as of vesting
date of equity
awards granted
and vested
in the year
($)

Add year-
over-year
change in fair
value of equity
awards granted
in prior years
that vested
in the year
($)

Deduct fair
value at the
end of the prior year of equity awards that failed to meet vesting conditions in the year ($)

2025

 

PEO

 

415,625

 

—

 

 

—

 

 

—

 

 

 

—

 

 

—

 

 

 

—

 

 

 

Non-PEO NEO's (average)

 

 

 

—

 

 

—

 

 

—

 

 

 

—

 

 

—

 

 

 

—

 

2024

 

PEO

 

 

300,000

 

—

 

—

 

 

—

 

 

 

—

 

 

—

 

 

 

—

 

 

 

Non-PEO NEOs (average)

 

250,000

 

—

 

—

 

 

—

 

 

 

—

 

 

—

 

 

 

—

 

2023

PEO

20,050,877

(19,755,877)

8,068,312

—

11,687,565

—

—

Non-PEO NEOs (average)

857,488

(621,813)

430,563

—

191,250

—

—

   
Non-PEO NEO Average Total Compensation Amount $ 60,227 250,000 857,488
Non-PEO NEO Average Compensation Actually Paid Amount $ 60,227 250,000 235,675
Adjustment to Non-PEO NEO Compensation Footnote

 

 

 

 

 

 

 

 

 

Year

 

 

 

 

Executives

 

 

 

 

SCT
total
($)

 

Deduct grant
date fair value of stock
awards & option awards
($)

 

 

 

Add year-end fair value of
unvested
equity granted
in the year
($)

 

Add year-over-
year change
in fair value of
outstanding and
unvested equity
granted in prior
years
($)

 

Add fair value
as of vesting
date of equity
awards granted
and vested
in the year
($)

Add year-
over-year
change in fair
value of equity
awards granted
in prior years
that vested
in the year
($)

Deduct fair
value at the
end of the prior year of equity awards that failed to meet vesting conditions in the year ($)

2025

 

PEO

 

415,625

 

—

 

 

—

 

 

—

 

 

 

—

 

 

—

 

 

 

—

 

 

 

Non-PEO NEO's (average)

 

 

 

—

 

 

—

 

 

—

 

 

 

—

 

 

—

 

 

 

—

 

2024

 

PEO

 

 

300,000

 

—

 

—

 

 

—

 

 

 

—

 

 

—

 

 

 

—

 

 

 

Non-PEO NEOs (average)

 

250,000

 

—

 

—

 

 

—

 

 

 

—

 

 

—

 

 

 

—

 

2023

PEO

20,050,877

(19,755,877)

8,068,312

—

11,687,565

—

—

Non-PEO NEOs (average)

857,488

(621,813)

430,563

—

191,250

—

—

   
Total Shareholder Return Amount $ 0 0.01 13.03
Net Income (Loss) $ (23,698,000,000) $ (34,934,000,000) $ (51,373,000,000)
Company Selected Measure Amount (9,625,000,000) (10,589,000,000) (16,999,000,000)
PEO Name Trent A. Ward Trent A. Ward Trent A. Ward
Additional 402(v) Disclosure The dollar amounts reported in these columns represent the amounts of “compensation actually paid.” The Amounts are computed in accordance with Item 402(v) of Regulation S-K by deducting and adding certain amounts from the “Total” column of the SCT    
Measure:: 1      
Pay vs Performance Disclosure      
Name Adjusted EBITDA    
Non-GAAP Measure Description Our company-selected measure is adjusted EBITDA. We calculate Adjusted EBITDA as net (loss) income adjusted to exclude: other expense (income), net; income tax expense (benefit); depreciation and amortization expense; stock-based compensation expense; impairment expense; reorganization, severance, exit, disposal and other costs associated with restructuring plans; vendor settlements; transaction related expenses; IPO related expenses; and other adjustment items that arise outside the ordinary course of our business.    
PEO | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount $ 0 $ 0 $ (19,755,877)
PEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 0 0 8,068,312
PEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 0 0 0
PEO | Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 0 0 11,687,565
PEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 0 0 0
PEO | Prior Year End Fair Value of Equity Awards Granted in Any Prior Year that Fail to Meet Applicable Vesting Conditions During Covered Year      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 0 0 0
Non-PEO NEO | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 0 0 (621,813)
Non-PEO NEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 0 0 430,563
Non-PEO NEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 0 0 0
Non-PEO NEO | Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 0 0 191,250
Non-PEO NEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 0 0 0
Non-PEO NEO | Prior Year End Fair Value of Equity Awards Granted in Any Prior Year that Fail to Meet Applicable Vesting Conditions During Covered Year      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount $ 0 $ 0 $ 0