v3.24.0.1
Stock-based Compensation (Tables)
12 Months Ended
Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]  
Schedule of RSU activity
For the years ended December 31, 2023 and 2022, the Company recognized $14.9 million and $9.4 million of stock compensation expense in relation to the Incentive Plan, respectively. The following table summarizes the RSU activity during the years ended December 31, 2023 and 2022:
Number of RSUs OutstandingWeighted-Average Grant Date Fair Value Per Share
Balances as of December 31, 2021
— — 
RSUs granted8,105,539 $5.27 
RSUs forfeited(65,650)7.40 
Balances as of December 31, 2022
8,039,8895.25 
RSUs granted3,104,600 5.52 
RSUs vested(154,023)7.25 
RSUs forfeited(300,655)5.45 
Balances as of December 31, 2023
10,689,811$5.29 
Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions
The fair value of performance-based RSUs was estimated on the dates of the grants using the Monte Carlo simulation of potential outcomes with the following key inputs:
For the year ended December 31,
20232022
Expected volatility60 %70 %
Risk-free interest rate3.73 %1.94 %
Expected term2.9 years5.0 years