Equity-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2023

Share-Based Payment Arrangement [Abstract]

Schedule of stock option activity

The following table summarizes the Company’s stock option activity:

	Number of Options	Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (in years)	Aggregate Intrinsic Value (in thousands)
Outstanding - January 1, 2023	5,601,770	$	15.21	8.34	$	—
Granted	—	—
Exercised	(31,000)	12.85
Forfeited	(1,431,038)	17.34
Expired	(407,312)	18.97
Outstanding - December 31, 2023	3,732,420	14.00		6.73	—
Vested and Exercisable - December 31, 2023	2,071,735	13.94		6.20	—
Options vested and expected to vest - December 31, 2023	3,732,420	$	14.00	6.73	$	—

Schedule of valuation assumptions

The fair value of PSUs was determined using a Monte Carlo simulation subject to the performance conditions of the underlying PSUs with the following assumptions:

Input	2023 Grants	2022 Grants	2021 Grants
Risk-free interest rate	3.5%	1.5% - 4.2%	0.5% - 0.7%
Expected volatility of the Company’s Class A Common Stock	74.9%	57.7% - 66.0%	55.0%

Schedule of unvested share activity

The following table summarizes the Company’s equity award activity for the year ended December 31, 2023:

			Weighted Average Grant Date Fair Value
	RSUs	PSUs	RSUs		PSUs
Outstanding - January 1, 2023	2,580,152	2,500,126	$	14.47	$	9.34
Granted	5,572,679	402,518	8.58		17.54
Vested	(1,007,176)	—	12.57		—
Forfeited	(1,902,975)	(1,596,086)	13.35		11.58
Outstanding - December 31, 2023	5,242,680	1,306,558	$	8.77	$	9.13

Schedule of stock based compensation expense

Share-based compensation expense was as follows for the periods indicated:

	Year Ended December 31,
(in thousands)	2023		2022		2021
Cost of sales	$	1,513	$	839	405
Selling and marketing	7,962		9,363		3,547
Research and development	1,425		602		195
General and administrative	11,644		17,691		8,271
Total share-based compensation	$	22,544	$	28,495	$	12,418