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Equity Based Compensation - Fair Value of Stock Options Granted Estimated on the Date of Grant Using the Black-Scholes Option (Details) - $ / shares
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Stock price $ 1.36  
Exercise Price $ 1.36  
Expected term (years) [1] 6 years 3 months  
Expected volatility [2] 80.30%  
Risk-Free interest rate [3] 4.10%  
Dividend yield [4] 0.00%  
2022    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Stock price   $ 3
Exercise Price   $ 3
Expected term (years) [1]   6 years 3 months
Expected volatility [2]   62.00%
Risk-Free interest rate [3]   3.40%
Dividend yield [4]   0.00%
[1]

(1) Expected term represents the estimated period of time until an award is exercised and was determined using the simplified method.

[2]

(2) Expected volatility for grants issued prior to July 21, 2023 (which is the two-year anniversary of the Company’s IPO) is based on the historical volatility of a selected peer group over a period equivalent to the expected term, and expected volatility for grants issued subsequent to July 21, 2023 is based on historical volatility of the Company’s stock.

[3]

(3) The risk-free interest rate is an interpolation of yields on U.S. Treasury securities with maturities equivalent to the expected term.

[4]

(4) We have assumed a dividend yield of zero as the Company has no plans to declare dividends in the foreseeable future.