Share-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2022

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Summary of Recognition of Share-Based Compensation related to Employees

Share-based compensation expense is recognized in cost of services, product and technology expense, and selling, general, and administrative expense, in the accompanying condensed consolidated statements of operations and comprehensive income (loss) as follows (in thousands):

	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Share-based compensation expense
Cost of services	$	277	$	41	$	551	$	73
Product and technology expense		312		67		516		121
Selling, general, and administrative expense		1,354		2,556		2,735		3,032
Total share-based compensation expense	$	1,943	$	2,664	$	3,802	$	3,226

Summary of outstanding stock option grants issued

Additionally, the vesting, vesting conditions, and equity classification of the awards remained unchanged as a result of the conversion.

		Options			Weighted Average Exercise Price		Weighted Average Remaining Contractual Term	Aggregate Intrinsic Value
December 31, 2021	Grants outstanding		3,519,563		$	6.66
	Grants exercised		(192,230	)	$	6.67
	Grants cancelled/forfeited		(113,264	)	$	6.61
June 30, 2022	Grants outstanding		3,214,069		$	6.66	7.7 Years	$19.3 million
June 30, 2022	Grants vested		820,282		$	6.64	7.7 Years	$4.9 million
June 30, 2022	Grants unvested		2,393,787		$	6.67

2021 Equity Plan [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Summary of Assumptions Applied to Establish Fair Value of Options Granted Using Black-Scholes Option Pricing Model

The fair value for stock options granted for the six months ended June 30, 2022 was estimated at the date of grant using the Black-Scholes option-pricing model with the following weighed average assumptions:

	Options
Expected stock price volatility		34.60	%
Risk-free interest rate		2.78	%
Expected term (in years)		6.2
Estimated fair-value of the underlying unit	$	14.82

Summary of Option Unit Activity

A summary of the option activity for the six months ended June 30, 2022 is as follows:

		Options			Weighted Average Exercise Price		Weighted Average Remaining Contractual Term	Aggregate Intrinsic Value
December 31, 2021	Grants outstanding		3,714,540		$	15.33
	Grants issued		496,627		$	14.82
	Grants cancelled/forfeited		(8,800	)	$	17.52
June 30, 2022	Grants outstanding		4,202,367		$	15.27	9.1 Years		—
June 30, 2022	Grants vested		999,352		$	15.07	9.0 Years		—
June 30, 2022	Grants unvested		3,203,015		$	15.33

Summary of the RSU activity

A summary of the RSU activity for the six months ended June 30, 2022 is as follows:

		Shares			Weighted Average Grant Date Fair Value
December 31, 2021	Nonvested RSUs		340,875		$	17.19
	Granted		178,650		$	14.40
	Vested		(38,600	)	$	16.54
	Forfeited		(4,400	)	$	17.52
June 30, 2022	Nonvested RSUs		476,525		$	16.19

2021 Equity Plan [Member] | Restricted Stock [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Summary of Restricted Stock Activity

The following table summarizes the restricted stock issued by the Company. These include grants of unvested Successor profits interests grants that were converted into restricted stock as described above, as well as restricted stock issued to new recipients. The restricted stock granted as a result of the conversion of Successor profits interests retain the vesting attributes (including original service period vesting start date) of the original award. A summary of the restricted stock activity for the six months ended June 30, 2022 is as follows:

		Shares			Weighted Average Grant Date Fair Value
December 31, 2021	Nonvested restricted stock		2,613,359		$	3.85
	Granted		—		$	—
	Vested		(332,059	)	$	3.85
June 30, 2022	Nonvested restricted stock		2,281,300		$	3.85