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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
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Stock price $ 1.36 $ 2.9
Exercise price $ 1.36 $ 2.9
Expected term (years) [1] 6 years 3 months 6 years 3 months
Expected volatility [2] 80.30% 65.40%
Risk-free interest rate [3] 4.10% 3.60%
Dividend yield [4] 0.00% 0.00%
[1] Expected term represents the estimated period of time until an award is exercised and was determined using the simplified method.
[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] The risk-free interest rate is an interpolation of yields on U.S. Treasury securities with maturities equivalent to the expected term.
[4] We have assumed a dividend yield of zero as the Company has no plans to declare dividends in the foreseeable future.