Stock Based Compensation (Tables)

12 Months Ended

Dec. 31, 2023

Share-Based Payment Arrangement [Abstract]

Schedule of fair value of the sole stock option grants

The following assumptions were used to compute the fair value of the stock option grants during the years ended December 31, 2023 and 2022:

	Year Ended December 31,
	2023		2022
Risk-free interest rate	4.1% - 4.9%		0.71% - 4.3%
Expected term (in years)	6.25		6.25
Volatility	52% - 62%		60% - 69%
Dividend yield	—	%	—	%

Schedule of company’s stock option activity

The following table summarizes the Company’s stock option activity under the Plan for the years ended December 31, 2022 and 2023:

	Options Shares	Weighted Average Exercise Price		Weighted Average Remaining Contractual Life in Years	Aggregate Intrinsic Value
Balance as of December 31, 2021	8,422,972	$	6.21	8.77	$	24,706,020
Granted/vested during the year	5,443,368	7.04		—	—
Exercised during the year	(1,699,720)	2.03		—	—
Cancelled during the year	(595,312)	8.28		—	—
Balance as of December 31, 2022	11,571,308	7.11		9.05	39,389,063
Granted/vested during the year	1,566,010	7.93		—	—
Exercised during the year	(514,065)	3.55		—	—
Cancelled during the year	(680,989)	7.52		—	—
Balance as of December 31, 2023	11,942,264	7.36		8.16	$	50,315,593
Options vested and exercisable as of December 31, 2023	4,703,686	$	7.02	7.47	$	3,199,037

Share-Based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity

Activity under RSUs for the year ended December 31, 2023 was as follows:

	RSUs	Weighted- Average Grant Date Fair Value Per RSU
Balance as of December 31, 2022	305,587	$	8.35
Granted	3,104,766	6.15
Vested	(986,258)	8.61
Forfeited	—	0
Balance as of December 31, 2023	2,424,095	5.61
Vested and unissued as of December 31, 2023	49,490	5.47
Non-vested as of December 31, 2023	2,424,095	5.61

Share-Based Payment Arrangement, Performance Shares, Activity

Activity under PSUs for the year ended December 31, 2023 was as follows:

	PSUs	Weighted-Average Grant Date Fair Value Per PSU
Balance as of December 31, 2022	—	$	—
Granted	1,085,270	5.16
Vested	—	—
Forfeited	—	—
Balance as of December 31, 2023	1,085,270	5.16
Vested and unissued as of December 31, 2023	—	—
Non-vested as of December 31, 2023	1,085,270	5.16