Equity-Based Compensation (Tables)

9 Months Ended

Sep. 30, 2024

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
Volatility	57.0%
Risk-free interest rate	0.1%
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
Volatility	46.0%
Risk-free interest rate	0.2%
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 Incentive Units:

Unvested as of December 31, 2023	1,155,000
Unvested as of September 30, 2024	1,155,000

Schedule of Share-based Payment Arrangement, Option, Activity

The table below presents the activity of outstanding stock options:

	Stock Options Outstanding	Weighted-Average Exercise Price Per Share		Weighted-Average Remaining Contractual Life (in years)	Aggregate Intrinsic Value
Outstanding as of December 31, 2023	5,127,673	$	2.14	9.03	$	2,209
Exercised	(87,324)	1.35
Forfeited	(803,171)	2.36
Expired	(77,110)	3.10
Outstanding as of September 30, 2024	4,160,068	$	2.09	8.26	$	287
Vested and exercisable as of September 30, 2024	1,704,254	$	2.24	8.19	$	130

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, 2023	10,052,113	$	2.11
Granted	10,383,534	1.97
Vested	(4,060,583)	2.16
Forfeited	(1,703,297)	2.35
Unvested as of September 30, 2024	14,671,767	$	1.97

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, 2023	2,585,831	$	1.70
Granted	3,787,998	2.74
Vested	(2,459,582)	1.80
Forfeited	(754,401)	1.77
Unvested as of September 30, 2024	3,159,846	$	2.79

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:

	June 1, 2024	December 1, 2023
Price of common stock on the grant date	$1.50	$1.80 to $2.09
Expected term (in years)	0.50	0.50
Expected volatility(1)	122.9%	94.9% to 162.2%
Risk-free rate of return	5.3%	5.3% to 5.4%
Expected annual dividend yield	—%	—%
Fair value of the award on the grant date	$0.74	$0.75 to $1.23

(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 Incentive 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,
	2024		2023		2024		2023
Equity-based compensation expense in selling, general and administrative	$	3,029	$	3,071	$	9,180	$	8,193
Equity-based compensation expense in cost of revenues	1,318		1,498		4,770		3,814
Equity-based compensation expense in research and development	821		224		2,124		585
Total equity-based compensation expense	$	5,168	$	4,793	$	16,074	$	12,592