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Stock-Based Compensation (Tables)

9 Months Ended

Sep. 30, 2023

Share-Based Payment Arrangement [Abstract]

Share-based Payment Arrangement, Expensed and Capitalized, Amount

Stock-based compensation expense consisted of the following:

			Three Months Ended September 30,												Nine Months Ended September 30,
			2023						2022						2023						2022
Cost of goods sold			$	269					$	236					$	753					$	693
Selling, general, and administrative expenses			16,022						24,065						53,330						77,516
Total stock-based compensation expense			$	16,291					$	24,301					$	54,083					$	78,209

Share-based Payment Arrangement, Option, Activity

A summary of stock option activity for the nine months ended September 30, 2023 is as follows:

			Number of Stock Options						Weighted Average Exercise Price						Weighted average contractual term (years)						Aggregate intrinsic value
Balance at December 31, 2022			2,965,144						$	7.23					4.5						$	21,243
Granted			—						—
Exercised			(727,932)						6.47												4,852
Forfeited			—						—
Balance at September 30, 2023			2,237,212						$	7.48					4.3						$	14,980
Exercisable as of September 30, 2023			2,237,212						$	7.48					4.3						$	14,980
Vested as of September 30, 2023			1,911,222						5.70						3.8
Unvested as of September 30, 2023			325,990						$	17.95					7.5

Share-based Payment Arrangement, Restricted Stock Unit, Activity

A summary of RSU activity for the nine months ended September 30, 2023 is as follows:

			Number of Restricted Stock Units						Weighted Average Grant Date Fair Value
Unvested as of December 31, 2022			3,314,420						$	29.06
Granted			1,677,009						13.27
Forfeited			(292,959)						23.27
Released			(839,551)						20.82
Vested and not yet released			(371,198)						29.48
Unvested as of September 30, 2023			3,487,721						$	23.89

Schedule of Nonvested Performance-based Units Activity

The PSUs are divided into eight substantially equal tranches, each one vesting on the date the 90-day trailing volume-weighted average trading price of the Company’s Class A common stock exceeds the stock price hurdle, as set forth in the table below, provided that no PSUs may vest prior to the six month anniversary of the Direct Listing.

Tranche						Number of PSUs						Stock Price Hurdle
1						549,712						$	47.75
2						549,710						$	55.71
3						549,712						$	63.67
4						549,710						$	71.63
5						549,712						$	79.59
6						549,710						$	87.55
7						549,712						$	95.50
8						549,710						$	103.46

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions

The following range of assumptions was used for ESPP purchase rights granted:

									Nine Months Ended September 30,
															2023						2022
ESPP purchase rights
Risk-free interest rates															4.0% - 5.2%						1.5% - 2.6%
Expected dividend yield															—						—
Expected term															0.5 - 2.0 years						0.5 - 2.0 years
Volatility															60		%				53		%

Disclosure of Share-Based Compensation Arrangements by Share-Based Payment Award

The following table presents other relevant ESPP information:

			Three Months Ended September 30,												Nine Months Ended September 30,
			2023						2022						2023						2022
Shares purchased under the ESPP			—						—						116,936						118,329
Stock-based compensation expense related to ESPP			$	608					$	638					$	2,020					$	2,095
Employee contributions			$	459					$	539					$	1,455					$	2,126

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Tabular disclosure of share-based payment arrangement.

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Tabular disclosure of the changes in outstanding nonvested performance-based units.

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Tabular disclosure of the number and weighted-average grant date fair value for restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock units that were granted, vested, or forfeited during the year.

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Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value.

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