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Equity-based Compensation (Tables)
 12 Months Ended
Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]  
Summary of Weighted Average Valuation Assumptions of Grants

The weighted average assumptions for the grants in the years ended December 31, 2024, 2023 and 2022 are provided in the following table:

 

 

 

December 31,

 

 

 

2024

 

 

2023

 

 

2022

 

Valuation assumptions:

 

 

 

 

 

 

 

 

 

Expected dividend yield

 

 

—

%

 

 

—

%

 

 

—

%

Expected volatility

 

 

51.3

%

 

 

46.2

%

 

 

47.3

%

Expected term (years)

 

 

6.5

 

 

 

6.5

 

 

 

6.5

 

Risk-free interest rate

 

 

4.2

%

 

 

4.3

%

 

 

2.4

%

 

 
Summary of Equity Option Activity

Option activity under the 2013 and 2019 Plans is as follows:

 

 

 

Number of
Shares

 

 

Weighted
Average
Exercise Price

 

 

Weighted
Average
Remaining
Contractual
Term

 

 

Aggregate
Intrinsic
Value
(in thousands)

 

Balance at January 1, 2024

 

 

5,229,440

 

 

$

15.62

 

 

 

8.0

 

 

$

18,882

 

Granted

 

 

241,959

 

 

 

20.71

 

 

 

8.5

 

 

 

 

Exercised

 

 

(617,509

)

 

 

11.19

 

 

 

—

 

 

 

 

Forfeited

 

 

(170,881

)

 

 

21.12

 

 

 

—

 

 

 

 

Expired

 

 

(17,000

)

 

 

25.18

 

 

 

—

 

 

 

 

Balance at December 31, 2024

 

 

4,666,009

 

 

 

16.23

 

 

 

7.4

 

 

 

85,899

 

Exercisable at December 31, 2024

 

 

1,351,120

 

 

 

16.48

 

 

 

5.3

 

 

 

25,472

 

Vested and expected to vest

 

 

3,089,753

 

 

 

17.85

 

 

 

6.8

 

 

 

53,695

 
Summary of RSU Award Activity

RSU award activity under the 2019 Plan is as follows:

 

 

 

Class A
Common
Stock

 

 

Weighted
Average
Grant Date
Fair Value

 

 

Weighted
Average
Remaining
Contractual
Term

 

 

Aggregate
Intrinsic
Value
(in thousands)

 

Unvested at January 1, 2024

 

 

33,136

 

 

$

19.91

 

 

 

0.4

 

 

$

549

 

Granted (1)

 

 

119,151

 

 

 

22.74

 

 

 

0.6

 

 

 

—

 

Vested

 

 

(80,655

)

 

 

21.61

 

 

 

 

 

 

 

Forfeited (2)

 

 

(437

)

 

 

26.82

 

 

 

 

 

 

 

Unvested at December 31, 2024

 

 

71,195

 

 

 

22.68

 

 

 

1.0

 

 

 

2,384

 
(1)
Includes an adjustment of 6,847 shares underlying performance-based RSU awards made during the year ended December 31, 2024. The vesting of such RSUs is based upon the Company’s current performance against predefined financial targets.
(2)
Includes an adjustment of (437) shares underlying performance-based RSU awards made during the year ended December 31, 2024. The vesting of such RSUs is based upon the Company’s current performance against predefined financial targets.