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Equity-Based Compensation (Tables) | 12 Months Ended
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Dec. 31, 2022
Share-Based Payment Arrangement [Abstract] |
Summary of Stock Option Activity | The following table summarizes the stock option activity for the year ended December 31, 2022, 2021 and 2020 (in thousands, except per share data):
|  | Stock Options |  |  | Weighted Average Exercise Price |  |  | Weighted Average Remaining Contractual Life (Years) |  |  | Aggregate Intrinsic Value |
Balance - December 31, 2019 |  |  | 15,841,250 |  |  | $ | 4.88 |  |  |  | 8.55 |  |  | $ | 2,770 |
Granted |  |  | 6,626,178 |  |  |  | 5.12 |  |  |  |  |  |  |
Exercised |  |  | (6,796,126 | ) |  |  | 4.24 |  |  |  |  |  |  | 54,747 |
Forfeited |  |  | (778,130 | ) |  |  | 4.24 |  |  |  |  |  |  |
Balance - December 31, 2020 |  |  | 14,893,172 |  |  | $ | 4.60 |  |  |  | 9.19 |  |  | $ | 116,029 |
Granted |  |  | 10,303,307 |  |  |  | 13.49 |  |  |  |  |  |  |
Exercised |  |  | (1,124,740 | ) |  |  | 4.35 |  |  |  |  |  |  | 16,346 |
Forfeited |  |  | (1,756,568 | ) |  |  | 7.23 |  |  |  |  |  |  |
Balance - December 31, 2021 |  |  | 22,315,171 |  |  | $ | 8.52 |  |  |  | 6.25 |  |  | $ | 322,877 |
Granted |  |  | 43,986 |  |  |  | 18.19 |  |  |  |  |  |  |
Exercised |  |  | (2,950,662 | ) |  |  | 7.45 |  |  |  |  |  | $ | 31,341 |
Forfeited |  |  | (1,653,725 | ) |  |  | 11.16 |  |  |  |  |  |  |
Balance - December 31, 2022 |  |  | 17,754,770 |  |  | $ | 8.47 |  |  |  | 7.06 |  |  | $ | 183,315 |
Options vested - December 31, 2022 |  |  | 9,401,413 |  |  | $ | 6.98 |  |  |  |  |  | $ | 110,894 |
Summary of RSU Activity | The summary of RSU activity is as follows (in thousands, except per share data):
|  | Units Activity |  |  | Weighted Average Grant Date Fair Value |  |  | Aggregate Intrinsic Value |
Unvested units as of December 31, 2020 |  |  | — |  |  | $ | — |  |  | $ | — |
Granted |  |  | 6,162,095 |  |  |  | 17.84 |  |  |  |
Released |  |  | — |  |  |  | — |  |  |  | — |
Canceled |  |  | (91,427 | ) |  |  | 18.03 |  |  |  | — |
Unvested units as of December 31, 2021 |  |  | 6,070,668 |  |  | $ | 17.84 |  |  | $ | 138,958 |
Granted |  |  | 4,745,363 |  |  |  | 18.86 |  |  |  | — |
Released |  |  | (588,854 | ) |  |  | 17.54 |  |  |  | — |
Canceled |  |  | (699,829 | ) |  |  | 18.47 |  |  |  | — |
Unvested units as of December 31, 2022 |  |  | 9,527,348 |  |  | $ | 18.32 |  |  | $ | 178,638 |
Schedule of Assumptions Used to Calculate Fair Value of Stock Options Granted | The following assumptions were used to calculate the fair value of stock options granted to employees on the date of grant using the Black-Scholes option-pricing model:
|  | Year Ended December 31, |
|  | 2022 |  |  | 2021 |  |  | 2020 |
Weighted-average grant date fair value per option |  | $ | 7.74 |  |  | $ | 5.11 |  |  | $ | 1.60 |
Fair value of units/ stock |  | $17.72 - $18.68 |  |  | $12.40 - $23.89 |  |  | $4.40 - $12.40 |
Expected term (in years) |  | 5.5 |  |  | 6.00 - 6.25 |  |  | 6.25 |
Expected volatility |  |  | 44 | % |  | 40 - 42% |  |  |  | 30 | %
Risk-free interest rates |  | 1.8 - 2.0% |  |  | 0.6 - 1.3% |  |  | 0.4 - 1.7% |
Schedule of Assumptions Used to Calculate Fair Value of Purchase Right for ESPP | The fair value of the purchase right for the ESPP is estimated on the date of grant using the Black-Scholes model with the following assumptions for the year ended December 31, 2021:
|  | Year Ended December 31, 2022 |  | Year Ended December 31, 2021
Expected volatility |  | 34.9 - 57.1% |  | 34.9%
Risk-free interest rate |  | 0.1 - 4.6% |  | 0.1%
Expected term (years) |  | 0.5 |  | 0.5

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