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Equity-Based Compensation (Tables)
9 Months Ended
Sep. 30, 2023
Share-Based Payment Arrangement [Abstract]  
Schedule of Share-based Payment Award, Valuation Assumptions
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
Schedule of Share-based Payment Arrangement, Activity
The table below presents the activity in Tranche II of the Class B Units:

Unvested as of December 31, 20221,295,000 
Forfeited(120,000)
Unvested as of September 30, 2023
1,175,000 
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions
The table below presents the fair value of the Stock Options granted during the nine months ended September 30, 2023 using the Black-Scholes OPM and the following assumptions:

Number of Stock Options granted3,153,641
Price of common stock on the grant date
$1.90 to $2.74
Expected option term (in years)
5.8 to 6.2
Expected volatility(1)
96.8% to 128%
Risk-free rate of return
3.3% to 4.1%
Expected annual dividend yield—%
Fair value of the Stock Options on the grant date
$1.51 to $2.29
(1) Expected volatility is based on a combination of implied and historical equity volatility of selected reasonably similar publicly traded companies.
Schedule of 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, 20222,982,893 $2.89 9.64$— 
Granted3,153,641 2.01 
Forfeited(673,396)2.39 
Expired(32,286)8.36 
Outstanding as of September 30, 2023
5,430,852 $2.41 9.25$— 
Vested and exercisable as of September 30, 2023
272,851 $6.07 8.58$— 
Schedule of 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, 20227,595,185 $2.35 
Granted8,472,437 2.07 
Vested(3,372,648)1.81 
Forfeited(2,488,635)2.81 
Unvested as of September 30, 2023
10,206,339 $2.19 
Schedule of 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, 2022287,500$4.86 
Granted1,590,088 1.99 
Forfeited(186,757)6.76 
Unvested as of September 30, 2023
1,690,831$1.95 
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 dateJune 1, 2023December 1, 2022
Price of common stock on the grant date$2.09$0.88
Expected term (in years)0.500.50
Expected volatility(1)
162.2%110.0%
Risk-free rate of return5.4%4.6%
Expected annual dividend yield—%—%
Fair value of the award on the grant date$1.23$0.40
(1) Expected volatility is based on a combination of implied and historical equity volatility of selected reasonably similar publicly traded companies.
Schedule of Share-based Payment Arrangement, Expensed and Capitalized, Amount
The table below presents the total equity-based compensation expense recognized for Class 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:
Three Months Ended September 30,Nine Months Ended September 30,
2023202220232022
Equity-based compensation expense in selling, general and administrative$3,071 $1,635 $8,193 $8,634 
Equity-based compensation expense in cost of revenues1,498 571 3,814 2,280 
Equity-based compensation expense in research and development224 16 585 246 
Total equity-based compensation expense$4,793 $2,222 $12,592 $11,160