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Stock Based Compensation (Tables)

9 Months Ended

Sep. 30, 2024

Share-Based Payment Arrangement [Abstract]

Schedule of Fair Value of the Sole Stock Option Grants

The following assumptions were used to compute the fair value of the stock option grants during the nine months ended September 30, 2024 and 2023:

			Nine Months Ended September 30,
			2024						2023
Risk-free interest rate			4.19% - 4.54%						4.10% - 4.87%
Expected term (in years)			5.57						6.25
Volatility			61%-71%%						52%-62%
Dividend yield			—		%				—		%

Schedule of Company’s Stock Option Activity

The following table summarizes the Company’s stock option activity under the Plan during the nine months ended September 30, 2024:

			Options Shares						Weighted Average Exercise Price						Weighted Average Remaining Contractual Life in Years						Aggregate Intrinsic Value
Balance as of December 31, 2023			11,942,264						$	7.36					8.16						$	3,961,556
Granted/vested			278,350						2.54						—						—
Exercised			(430)						1.59						—						—
Cancelled			(4,016,371)						7.70						—						—
Balance as of September 30, 2024			8,203,813						7.06						7.48						1,487,826
Options vested and exercisable as of September 30, 2024			3,910,463						$	6.66					6.86						$	1,433,639

Schedule of Share-Based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity

Activity under RSUs during the nine months ended September 30, 2024 was as follows:

			RSUs						Weighted- Average Grant Date Fair Value Per RSU
Balance as of December 31, 2023			2,424,095						$	5.61
Granted			1,077,884						2.78
Vested			(458,923)						4.23
Forfeited			(151,880)						4.93
Balance as of September 30, 2024			2,891,176						5.04
Vested and unissued as of September 30, 2024			2,617						10.03
Non-vested as of September 30, 2024			2,888,559						$	5.04

Schedule of Share-Based Payment Arrangement, Performance Shares, Activity

Activity under PSUs during the nine months ended September 30, 2024 was as follows:

			PSUs						Weighted- Average Grant Date Fair Value Per PSU
Balance as of December 31, 2023			1,085,270						$	5.16
Granted			—						—
Vested			—						—
Forfeited			—						—
Performance adjustment			(217,054)						—
Balance as of September 30, 2024			868,216						5.16
Vested and unissued as of September 30, 2024			—						—
Non-vested as of September 30, 2024			868,216						$	5.16

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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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-Name Accounting Standards Codification
-Section 50
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Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions.

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

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Tabular disclosure of number and weighted-average grant date fair value for nonvested performance shares.

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