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Employee Compensation (Tables)
6 Months Ended
Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]  
Schedule of ICU's Outstanding and Vested The following table summarizes ICUs outstanding and vested (in thousands, except per share data):

 

 

ICUs

 

 

Weighted-
Average
Threshold
Price

 

 

Weighted-
Average
Remaining
Contractual
Term (Years)

 

 

Weighted-
Average
Grant
Date Fair
Value

 

Outstanding as of June 30, 2024

 

 

8,633

 

 

$

4.73

 

 

 

5.37

 

 

$

3.59

 

Vested as of June 30, 2024

 

 

8,360

 

 

$

4.69

 

 

 

5.34

 

 

$

3.42

 

Schedule of Common Unit Option Activity

The following table summarizes common unit option activity for the six months ended June 30, 2024 (in thousands, except per share data):

 

 

Options

 

 

Weighted-
Average
Exercise
Price

 

 

Weighted-
Average
Remaining
Contractual
Term (Years)

 

Outstanding as of December 31, 2023

 

 

28,761

 

 

$

8.65

 

 

 

7.69

 

Granted

 

 

9,097

 

 

 

14.78

 

 

 

 

Forfeited

 

 

(443

)

 

 

9.64

 

 

 

 

Exercised

 

 

 

 

 

 

 

 

 

Outstanding as of June 30, 2024

 

 

37,415

 

 

$

10.33

 

 

 

7.98

 

Vested and exercisable as of June 30, 2024

 

 

17,175

 

 

$

7.83

 

 

 

6.86

 

Schedule of Equity-Based Compensation Expense

Equity-based compensation expense was classified as follows in the accompanying unaudited condensed consolidated statements of operations (in thousands):

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

2024

 

 

2023

 

 

2024

 

 

2023

 

Cost of professional services and other

 

$

 

 

$

 

 

$

 

 

$

15

 

Sales and marketing

 

 

918

 

 

 

1,894

 

 

 

1,274

 

 

 

3,123

 

Research and development

 

 

1,149

 

 

 

105

 

 

 

1,254

 

 

 

309

 

General and administrative

 

 

652

 

 

 

933

 

 

 

1,304

 

 

 

2,213

 

Total equity-based compensation

 

$

2,719

 

 

$

2,932

 

 

$

3,832

 

 

$

5,660