Equity-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2025

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 Award, Stock Options, Valuation Assumptions

The table below presents the fair value of Stock Options that were granted during the six months ended June 30, 2025 using the Black-Scholes OPM and the following assumptions:

	January 15, 2025
Number of Stock Options granted	671,141
Price of common stock on the grant date	$3.39
Expected option term (in years)	6.1
Expected volatility(1)	120%
Risk-free rate of return	4.45%
Expected annual dividend yield	—%
Fair value of the Stock Options on the grant date	$2.98

(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 and other information on the 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, 2024	3,930,602	$	2.12	8.01	$	10,138
Granted	671,141	3.18
Vested	—	—
Exercised	(1,319,949)	1.70
Forfeited	(769,982)	1.54
Expired	—	—
Outstanding as of June 30, 2025	2,511,812	$	2.81	6.61	$	10,426
Vested and exercisable as of June 30, 2025	1,476,721	$	2.62	6.28	$	6,484
					As of
					June 30, 2025
Unrecognized compensation costs related to the stock options					$	2,494
Weighted average recognition period for unrecognized compensation costs					2.88 years

Schedule of Share-Based Payment Arrangement, Restricted Stock Unit, Activity

The table below presents the activity and other information on the outstanding RSUs:

	RSUs Outstanding	Weighted-Average Grant Date Fair Value Per Share
Unvested as of December 31, 2024	13,870,402	$	1.94
Granted	7,452,143	3.02
Vested	(4,105,068)	2.59
Forfeited	(2,985,257)	1.87
Unvested as of June 30, 2025	14,232,220	$	2.50
		As of
		June 30, 2025
Unrecognized compensation costs related to the RSUs		$	34,065
Weighted average recognition period for unrecognized compensation costs		1.46 years

Schedule of Share-Based Payment Arrangement, Performance Shares, Activity

The table below presents the activity and other information on the outstanding PSUs:

	PSUs Outstanding	Weighted-Average Grant Date Fair Value Per Share
Unvested as of December 31, 2024	2,933,616	$	2.88
Granted	2,699,831	3.68
Vested	(2,795,576)	2.97
Forfeited	(47,619)	3.46
Unvested as of June 30, 2025	2,790,252	$	3.37
		As of
		June 30, 2025
Unrecognized compensation costs related to the PSUs		$	3,940
Weighted average recognition period for unrecognized compensation costs		2.47 years

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, 2025		December 31, 2024
Price of common stock on the grant date	$	3.95	$1.50 to $2.20
Expected term (in years)	0.50		0.50
Expected volatility(1)	130.0%		122.9% to 101.0%
Risk-free rate of return	4.3%		5.3% to 4.3%
Expected annual dividend yield	—%		—%
Fair value of the award on the grant date	$	1.99	$0.74 to $2.15

(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 June 30,				Six Months Ended June 30,
	2025		2024		2025		2024
Equity-based compensation expense in selling, general and administrative	$	2,439	$	3,980	$	6,526	$	6,151
Equity-based compensation expense in cost of revenues	1,349		970		3,885		3,452
Equity-based compensation expense in research and development	531		799		1,308		1,303
Total equity-based compensation expense	$	4,319	$	5,749	$	11,719	$	10,906