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Equity-based compensation | 9 Months Ended
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Sep. 30, 2024
Share-Based Payment Arrangement [Abstract] |
Equity-based compensation | Equity-based compensation Equity-based compensation cost recognized for equity-based awards outstanding during the three and nine months ended September 30, 2024 and 2023 was as follows:
|  | Three Months Ended September 30, |  | Nine Months Ended September 30,
(in thousands) |  | 2024 |  | 2023 |  | 2024 |  | 2023
QLH restricted Class B-1 units |  | $ | 3 |  |  | $ | 14 |  |  | $ | 16 |  |  | $ | 73 |
Restricted Class A shares |  | 66 |  |  | 130 |  |  | 272 |  |  | 464 |
Restricted stock units |  | 7,985 |  |  | 14,310 |  |  | 25,230 |  |  | 43,406 |
Performance-based restricted stock units |  | 543 |  |  | — |  |  | 934 |  |  | — |
Total equity-based compensation |  | $ | 8,597 |  |  | $ | 14,454 |  |  | $ | 26,452 |  |  | $ | 43,943 |
Equity-based compensation cost was included in the following expense categories in the consolidated statements of operations during the three and nine months ended September 30, 2024 and 2023:
|  | Three Months Ended September 30, |  | Nine Months Ended September 30,
(in thousands) |  | 2024 |  | 2023 |  | 2024 |  | 2023
Cost of revenue |  | $ | 405 |  |  | $ | 1,012 |  |  | $ | 2,654 |  |  | $ | 2,959 |
Sales and marketing |  | 1,933 |  |  | 2,151 |  |  | 5,676 |  |  | 6,895 |
Product development |  | 1,733 |  |  | 1,905 |  |  | 5,001 |  |  | 6,176 |
General and administrative |  | 4,526 |  |  | 9,386 |  |  | 13,121 |  |  | 27,913 |
Total equity-based compensation |  | $ | 8,597 |  |  | $ | 14,454 |  |  | $ | 26,452 |  |  | $ | 43,943 |
As of September 30, 2024, total unrecognized compensation cost related to unvested restricted stock units and PRSUs was $57.3 million and $0.8 million, respectively, which are expected to be recognized over weighted-average periods of 2.53 years and 0.45 years, respectively.

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