Equity-based Compensation (Tables)

12 Months Ended

Dec. 31, 2022

Summary of Equity Based Compensation Expense Recognized

A summary of the expense by line item in the consolidated statements of operations for the years ended December 31, 2022, 2021 and 2020, is provided in the following table.

	Year Ended December 31,
(in thousands)	2022		2021		2020
Cost of revenue	$	942	$	277	$	62
Sales and marketing		13,508		1,930		473
Product development		7,805		1,070		356
General and administrative		14,179		6,680		856
Total compensation expense	$	36,434	$	9,957	$	1,747

IPO

Schedule of Company’s Unvested Time-Based and Performance-Based Unit Activity

The following table summarizes the Company’s unvested unit activity.

	Time-Based
				Weighted
	Non-Vested			Average Grant
	Units			Date Fair Value
Unvested at December 31, 2021		2,756,406		$	2.02
Vested		(1,060,385	)		2.03
Forfeited		(186,872	)		2.03
Unvested at December 31, 2022		1,509,149		$	2.03

Time Based RSUs

Schedule of Company’s Unvested Time-Based and Performance-Based Unit Activity

The following table summarizes the Company's unvested time-based activity for the years ended December 31, 2022 and 2021:

	2022					2021
				Weighted					Weighted
	Restricted			Average Grant		Restricted			Average Grant
	Stock Units			Date Fair Value		Stock Units			Date Fair Value
Unvested at beginning of year		1,935,899		$	32.59		—		$	—
Granted		2,457,991		$	20.27		1,965,477		$	32.50
Vested		(716,776	)	$	29.86		—		$	—
Forfeited		(238,727	)	$	25.51		(29,578	)	$	27.00
Unvested at end of year		3,438,387		$	24.82		1,935,899		$	32.59

Performance-Based RSUs

Schedule of Company’s Unvested Time-Based and Performance-Based Unit Activity

The following table summarizes the Company's unvested PSU activity for the years ended December 31, 2022 and 2021:

	2022					2021
				Weighted				Weighted
	Restricted			Average Grant		Restricted		Average Grant
	Stock Units			Date Fair Value		Stock Units		Date Fair Value
Unvested at beginning of year		164,351		$	27.00		—	$	—
Granted		125,000		$	54.25		164,351	$	27.00
Vested		—		$	-		—	$	—
Forfeited		(164,351	)	$	27.00		—	$	—
Unvested at end of year		125,000		$	54.25		164,351	$	27.00