Stock/Unit-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2021

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Summary of Stock-based Compensation

Stock/Unit-based compensation recorded in the consolidated statements of operations was as follows:

	Year Ended December 31,
	2021		2020		2019
	(in thousands)
Platform operations	$	13,096	$	—	$	42
Sales and marketing		25,639		—		44
Technology and development		12,373		—		82
General and administrative		17,714		—		922
Total	$	68,822	$	—	$	1,090

Summary of RSU Activity

The following summarizes RSU activity:

	Number of Shares			Weighted-Average Grant-Date Fair Value		Weighted-Average Remaining Contractual Term		Aggregate Intrinsic Value
	(in thousands)					(in years)		(in thousands)
RSUs outstanding as of    December 31, 2020		—		$	—
Granted		6,488			24.62
Vested		(2,792	)		24.88
Canceled/forfeited		(663	)		25.02
RSUs outstanding as of    December 31, 2021		3,033			24.29		1.22	$	29,433

Incentive Units

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Summary of Stock Option/Incentive Activity

The following table summarizes the incentive unit activity for the periods presented:

	Year Ended December 31,
	2021		2020		2019
Incentive units outstanding, beginning of period		—		—		160,000
Granted		—		—		4,000
Forfeited		—		—		(4,000	)
Vested		—		—		(160,000	)
Incentive units outstanding, end of period		—		—		—

Summary of Assumptions used in Fair Value of Stock Options Granted

The valuation of incentive unit awards incorporated the income approach and the market approach in determining the fair value. The Company applied a 50% weight to each approach, utilizing the OPM to allocate value to different classes of equity. The following outlines the option valuation assumptions used in the fair value calculation of incentive units:

Risk-free interest rate		0.9	%
Volatility		55.4	%
Expected Term	2.5 years
Discount for lack of marketability		55	%

Nonqualified Stock Options

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Summary of Stock Option/Incentive Activity

Nonqualified Stock Options

The following summarizes nonqualified stock option activity:

	Number of Options			Weighted-Average Exercise Price		Weighted-Average Remaining Contractual Term		Aggregate Intrinsic Value
	(in thousands)					(in years)		(in thousands)
Options outstanding as of    December 31, 2020		—		$	—
Granted		235			16.52
Exercised		—			—
Canceled		(15	)		25.86
Expired		—			—
Options outstanding as of    December 31, 2021		220			15.88		9.7	$	20

Summary of Assumptions used in Fair Value of Stock Options Granted

The following table presents the assumptions used in the Black-Scholes model to determine the fair value of nonqualified stock options for the year ended December 31, 2021. Black-Scholes assumptions have not been disclosed for any other periods presented in relation to nonqualified stock options as there were no nonqualified stock options granted in those periods.

	Year Ended December 31,
	2021
Risk free interest rate		1.2	%
Expected volatility		61.1	%
Expected term (in years)		5.9
Expected dividend yield		0.0	%