Equity-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2022

Share-Based Payment Arrangement [Abstract]

Schedule of stock option activity

The following table summarizes the Company’s stock option activity for the year ended December 31, 2022:

	Number of Options	Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (in years)	Aggregate Intrinsic Value (in thousands)
Outstanding - January 1, 2022	6,785,020	$	15.64	9.45	$	59,482
Granted	10,500	22.68
Forfeited	(1,144,700)	18.60
Expired	(49,050)	15.77
Outstanding - December 31, 2022	5,601,770	15.21		8.34	—
Vested and Exercisable - December 31, 2022	1,446,117	15.31		8.06	—
Options vested and expected to vest - December 31, 2022	5,601,770	$	15.21	8.34	$	—

Summary 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	2022 Grants	2021 Grants
Risk-free interest rate	1.52% - 4.23%	0.50% - 0.65%
Expected volatility of the Company’s Class A Common Stock	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, 2022:

			Weighted Average Grant Date Fair Value
	RSUs	PSUs	RSUs		PSUs
Outstanding - January 1, 2022	380,775	975,000	$	25.88	$	11.39
Granted	2,936,252	1,734,864	13.47		8.79
Vested	(207,164)	—	20.12		—
Forfeited	(529,711)	(209,738)	14.95		14.30
Outstanding - December 31, 2022	2,580,152	2,500,126	14.47		9.34

Summary of share based compensation

Compensation expense attributable to net stock-based compensation was as follows for the periods indicated:

	Year Ended December 31,
(in thousands)	2022		2021		2020
Cost of sales	839		405		67
Selling and marketing	9,363		3,547		58
Research and development	602		195		—
General and administrative	17,691		8,271		238
Stock-based compensation expense	$	28,495	$	12,418	$	363