Share-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2023

Share-Based Payment Arrangement [Abstract]

Summary of Weighted Average Assumptions used in the Black-Scholes-Merton Option-Pricing Model

The weighted average assumptions used in the Black-Scholes-Merton option-pricing model for the units granted during the three months ended March 31, 2023 and 2022 Stock Options are provided in the following table:

	March 31, 2023	March 31, 2022
Valuation assumptions:
Expected dividend yield	—%	—%
Expected volatility	64.00%	35.00%
Risk-free rate	3.40%	2.33% to 2.44%
Expected term (years)	6.25	6.07 to 6.65

Summary of Stock Option Activity

Stock option activity during the three months ended March 31, 2023 and 2022 is as follows:

Stock options	Number of shares	Weighted average exercise price		Weighted average remaining contractual term	Aggregate intrinsic value (in thousands)
Balance at January 1, 2023	8,049,474	$	2.14
Granted	1,948,354	0.48
Exercised	—	—
Forfeited	(163,414)	3.20
Expired	(1,747)	1.08
Balance at March 31, 2023	9,832,667	$	1.79	8.02	$	384
Vested Options Exercisable at March 31, 2023	3,271,151	$	1.33	6.68	$	—

Stock options	Number of shares	Weighted average exercise price		Weighted average remaining contractual term	Aggregate intrinsic value (in thousands)
Balance at January 1, 2022	6,921,180	$	0.88
Granted	1,385,108	7.09
Exercised	—	—
Forfeited	(190,621)	1.23
Expired	(526)	1.23
Balance at March 31, 2022	8,115,141	$	1.94	8.87	$	42,151
Vested Options Exercisable at March 31, 2022	1,858,885	$	0.86	7.58	$	11,662

Summary of the Activity for the RSUs and RSAs

A summary of the activity for the RSUs for the three months ended March 31, 2023 and 2022, respectively, are shown in the following table:

	Three Months Ended March 31,
	2023			2022
	Number of Shares	Weighted Average Grant Date Fair Value		Number of Shares	Weighted Average Grant Date Fair Value
Unvested at beginning of year	2,106,540	$	7.25	1,291,492	$	10.98
Granted	1,863,539	0.48		727,424	7.09
Vested	(331,675)	4.12		(27,188)	7.09
Forfeited	(56,427)	6.63		—	—
Unvested at end of year	3,581,977	$	4.03	1,991,728	$	10.98

A summary of the activity for the equity-classified Medical RSUs for the three months ended March 31, 2023 and 2022, respectively, is shown in the following table:

	Three Months Ended March 31,
	2023	2022
Balance at beginning of period	147,470	—
Granted	8,317	—
Vested	(155,787)	—
Forfeited	—	—
Balance at end of period	—	—

Schedule of Share-Based Payment Award, Earnout Shares, Valuation Assumptions

The assumptions used in the Monte-Carlo Simulation model for the Earnout Shares granted on the Closing Date are provided in the following table:

	November 12, 2021
Valuation assumptions
Expected dividend yield	—	%
Expected volatility	35.00	%
Risk-free interest rate	0.85	%

Summary of Share-Based Payment Arrangement, Outstanding Award, Activity, Excluding Option

A summary of the activity for the Employees Earnout Shares for the three months ended March 31, 2023 and 2022 is shown in the following table:

	Three Months Ended March 31,
	2023	2022
Outstanding at beginning of period	1,417,632	1,602,435
Granted	—	—
Vested	—	(41,578)
Forfeited	(16,568)	—
Outstanding at end of period	1,401,064	1,560,857