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Equity-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]  
Schedule of Share-based Payment Award, Valuation Assumptions The assumptions used in determining the fair value were as follows:
As of June 11, 2019
Volatility
25.8 %
Risk-free interest rate
1.89 %
Expected time to exit (years)
2.5
The assumptions used in determining the fair value of the Incentive Units at the grant date are as follows:
February 16, 2021
Volatility57.0%
Risk-free interest rate0.1%
Expected time to exit (in years)1.6
The assumptions used in determining the fair value of the Incentive Units at the modification date are as follows:
July 29, 2021
Volatility46.0%
Risk-free interest rate0.2%
Expected time to exit (in years)1.2
Share-based Payment Arrangement, Activity The table below presents the activity for the Class B Units:
Balance as of January 1, 2019
— 
Granted during the year
100 
Vested during the year
(10)
Forfeited during the year
— 
Unvested as of December 31, 2019
90 
Unvested as of October 22, 2020
90 
The table below presents the activity in Tranche II of the Class B Units:

Unvested as of December 31, 2020
Granted9,650,000
Vested(5,640,000)
Forfeited(250,000)
Unvested as of December 31, 20213,760,000 
Granted— 
Vested(1,890,000)
Forfeited(575,000)
Unvested as of December 31, 20221,295,000 
Share-based Payment Arrangement, Expensed and Capitalized, Amount The total compensation expense recognized by the Company for Tranche II Incentive Units, including the effects of modifications, was as follows:
SuccessorPredecessor
Year Ended
December 31, 2022
Year Ended
December 31, 2021
Period from
May 22, 2020 through
December 31, 2020
Period from January 1, 2020 through
October 22, 2020
Equity-based compensation expense in selling, general and administrative$3,981 $53,463 $— $— 
Equity-based compensation expense in cost of revenues785 6,886 — — 
Total compensation expense$4,766 $60,349 $— $— 
The table below present the total equity-based compensation expense recognized for Class A and B Units, Stock Options, RSUs, PSUs and ESPP in selling, general and administrative expense, cost of revenues, and research and development for the following periods:
SuccessorPredecessor
Year Ended
December 31, 2022
Year Ended
December 31, 2021
Period from
May 22, 2020 through
December 31, 2020
Period from January 1, 2020 through
October 22, 2020
Equity-based compensation expense in selling, general and administrative$7,359 $53,726 $— $80 
Equity-based compensation expense in cost of revenues3,172 6,889 — — 
Equity-based compensation expense in research and development334 — — — 
Total equity-based compensation expense$10,865 $60,615 $— $80 
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions
The table below presents the fair value of the Stock Options as estimated on the grant date using the Black-Scholes OPM using the following assumptions:

Stock Options grant dateOctober 31, 2022October 12, 2022August 29, 2022June 13, 2022March 30, 2022
Number of Stock Options granted943,9481,248,00381,701101,215424,017
Price of common stock on the grant date$1.32$1.28$1.53$4.94$8.24
Expected option term (in years)5.86.16.16.26.3
Expected volatility(1)
68.0%67.0%66.0%57.0%54.0%
Risk-free rate of return4.2%4.0%3.2%3.5%2.4%
Expected annual dividend yield—%—%—%—%—%
Fair value of the Stock Options on the grant date$0.84$0.82$0.96$2.85$4.67
(1) Expected volatility is based on a combination of implied and historical equity volatility of selected reasonably similar publicly traded companies.
Share-based Payment Arrangement, Option, Activity The table below presents the activity in the Stock Options:
Stock Options OutstandingWeighted-Average Exercise Price Per ShareWeighted-Average Remaining Contractual Life (in years)Aggregate Intrinsic Value
Outstanding as of December 31, 2020— $— 0.0$— 
Granted482,000 9.99 
Exercised— — 
Forfeited— — 
Expired— — 
Outstanding as of December 31, 2021482,000 $9.99 10.0$— 
Granted2,798,884 2.30 
Exercised— — 
Forfeited(278,903)8.79 
Expired(19,088)$9.62 
Outstanding as of December 31, 20222,982,893 $2.89 9.64$— 
Vested and exercisable as of December 31, 2022137,359 $6.03 9.28$— 
Share-based Payment Arrangement, Restricted Stock Unit, Activity The table below presents the activity in the RSUs:
RSUs
Outstanding
Weighted-Average Grant Date Fair Value Per Share
Unvested as of December 31, 2020$— 
Granted403,300 10.03 
Vested— — 
Forfeited— — 
Unvested as of December 31, 2021403,300 $10.03 
Granted8,529,066 2.62 
Vested(311,811)6.64 
Forfeited(1,025,370)5.66 
Unvested as of December 31, 20227,595,185 $2.35 
Share-based Payment Arrangement, Performance Shares, Activity
The table below presents the activity in the PSUs:
PSUs
Outstanding
Weighted-Average Grant Date Fair Value Per Share
Unvested as of December 31, 2020— $— 
Granted150,000 10.03 
Vested— — 
Forfeited— — 
Unvested as of December 31, 2021150,000$10.03 
Granted175,000 1.53 
Vested— — 
Forfeited(37,500)10.03 
Unvested as of December 31, 2022287,500$4.86 
Schedule of Share-based Payment Award, Employee Stock Purchase Plan, Valuation Assumptions The table below presents the assumptions used to estimate the grant date fair value of the purchase rights under the ESPP:
ESPP grant dateDecember 1, 2022May 1, 2022
Price of common stock on the grant date$0.88$10.01
Expected term (in years)0.500.60
Expected volatility(1)
110.0%56.0%
Risk-free rate of return4.6%1.5%
Expected annual dividend yield—%—%
Fair value of the award on the grant date$0.40$3.22
(1) Expected volatility is based on a combination of implied and historical equity volatility of selected reasonably similar publicly traded companies.