Equity-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2023

Share-Based Payment Arrangement [Abstract]

The following table summarizes the activity related to the Company's restricted stock units ("RSUs") for the six months ended June 30, 2023:


	Number of RSUs	Weighted average grant date fair value
Balance as of December 31, 2022, unvested	3,158,686	$	9.01
Granted	2,128,923	$	4.58
Vested	(664,385)	$	9.04
Forfeited	(572,258)	$	7.96
Balance as of June 30, 2023, unvested	4,050,966	$	6.82

Schedule of Stock Options Roll Forward

The following table summarizes the activity related to the outstanding and exercisable stock options for the six months ended June 30, 2023:


	Number of options	Weighted average exercise price		Weighted average grant date fair value		Weighted average remaining contractual term (years)
Outstanding as of December 31, 2022	857,615	$	12.00	$	4.27	8.7

Forfeited	(62,177)	$	12.00	$	4.29	—
Outstanding as of June 30, 2023	795,438	$	12.00	$	4.27	8.2

Exercisable as of June 30, 2023	517,283	$	12.00	$	4.26	8.2
Unvested as of June 30, 2023	278,155	$	12.00	$	4.29	8.2
Vested and expected to vest as of June 30, 2023	795,438	$	12.00	$	4.27	8.2

Schedule of Activity Related to the Unvested LLC Units

The following table summarizes the activity related to the unvested restricted LLC Units for the six months ended June 30, 2023:


	Number of restricted LLC Units	Weighted average grant date fair value
Balance, December 31, 2022, unvested	615,000	$	0.61

Vested	(227,552)	$	0.47
Forfeited	(19,950)	$	0.32
Balance, June 30, 2023, unvested	367,498	$	0.71

Total compensation expense for unvested restricted LLC Units was $0.1 million and $0.1 million for the three and six months ended June 30, 2023, respectively, and $0.1 million and $0.1 million for the three and six months ended June 30, 2022, respectively, and is included in selling, general and administrative expenses in the unaudited condensed consolidated statements of operations.

As of June 30, 2023, total compensation cost related to unvested restricted LLC Units not yet recognized is $0.3 million and is expected to be recognized over a weighted-average period of approximately 1.6 years.