Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2021

Share-based Payment Arrangement [Abstract]

Summary of Company's Stock Option, Activity

A summary of the Company’s stock option activity for the year ended December 31, 2021 is as follows:

	Number of Common Stock Options	Weighted-Average Exercise Price		Weighted-Average Remaining Contractual Life (Years)	Aggregate Intrinsic Value
Outstanding as of December 31, 2020	—	$	—	—	$	—
Granted	5,600,000	15.23		—	—
Exercised	—	—		—	—
Forfeited	(2,225,000)	15.23		—	—
Outstanding as of December 31, 2021	3,375,000	$	15.23	9.60	$	—
Vested and exercisable as of December 31, 2021	—	$	—	0.0	$	—

Schedule of Valuation Assumptions, Options

The fair value of each option grant was estimated on the grant date using the Black-Scholes option pricing model based on the following assumptions:

Volatility	32.50	%
Risk-free rate (low)	0.91% - 1.25%
Expected term (years)	5.1 - 6.1 years
Dividend yield	0.00	%

Summary of Restricted Stock Unit, Activity

A summary of the Company’s RSU activity for the year ended December 31, 2021 is as follows:

	Number of Restricted Stock Units	Weighted-Average Grant Date Fair Value
Unvested as of December 31, 2020	—	$	—
Granted	2,109,320	7.59
Vested	(11,337)	7.69
Forfeited	(279,453)	7.69
Unvested as of December 31, 2021	1,818,530	$	7.58

Summary of PSU Activity

A summary of the Company’s PSU activity for year ended December 31, 2021 is as follows:

	Number of Performance Stock Units	Weighted-Average Grant Date Fair Value
Unvested as of December 31, 2020	—	$	—
Granted	99,868	7.69
Vested	—	—
Forfeited	(20,961)	7.69
Unvested as of December 31, 2021	78,907	$	7.69

Schedule of Valuation Assumptions, Profit Unit Interests

The compensation expense accounted for all vested units based on the following assumptions:

Expected term	3 years
Volatility	68.0	%
Discount for lack of marketability	45.0	%
Risk free rate	0.2	%

Schedule of Profit Unit Interest

The following table summarizes the Company’s profit unit interests activity:

		Avg Fair Value
	Units	at Grant Date
Outstanding at December 31, 2018	9,279,761	$	0.04
Granted	619,597	0.22
Forfeited	(100,640)	0.17
Outstanding at December 31, 2019	9,798,718	0.05
Granted	2,413,833	0.17
Forfeited	(10,416)	0.03
Outstanding at December 31, 2020	12,202,135	0.08
Granted	—	—
Forfeited	(591,078)	0.10
Exchanged in reverse recapitalization	(11,611,057)	0.08
Outstanding at December 31, 2021	—	$	—

Schedule of Non-vested Units

The following table summarizes the Company’s non-vested units activity:

		Avg Fair Value
	Units	at Grant Date
Non-vested units at December 31, 2018	4,529,290	$	0.06
Granted	619,597	0.22
Vested	(1,581,500)	0.04
Forfeited	(100,640)	0.17
Non-vested units at December 31, 2019	3,466,747	0.10
Granted	2,413,833	0.17
Vested	(1,131,831)	0.13
Forfeited	(10,416)	0.03
Non-vested units at December 31, 2020	4,738,333	0.12
Granted	—	—
Vested	(2,933,300)	0.08
Forfeited	(591,078)	0.10
Exchanged in reverse recapitalization	(1,213,955)	0.22
Non-vested units at December 31, 2021	—	$	—