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Stock-Based Compensation (Tables)
 3 Months Ended
Mar. 31, 2024
Equity [Abstract]  
Schedule of Stock-based Compensation Expense
The Company recorded stock-based compensation on the Consolidated Statement of Operations for the three months ended March 31, 2024 and 2023 as follows (in thousands):
Three Months Ended March 31,
20242023
Cost of revenue$395 $— 
General and administrative6,663 4,758 
Research and development171 — 
Sales and marketing545 — 
Total stock-based compensation$7,774 $4,758 
Schedule of Stock Option Activity
A summary of the stock option activity under the Company’s plans for the three months ended March 31, 2024 is as follows:
 
Number of
Shares		Weighted Average Exercise Price
Outstanding at December 31, 20234,381,099 $15.87 
Granted634,134 $16.39 
Exercised(12,764)$7.97 
Forfeited(30,382)$19.79 
Outstanding at March 31, 20244,972,087 $19.97 
Exercisable at March 31, 20241,241,392 $19.97 
Schedule of Fair Value of Each Stock Option Award Granted
The fair value of each stock option award granted during the three months ended March 31, 2024 was estimated as of the grant date using a Black-Scholes model with the following assumptions:
 Three Months Ended
March 31, 2024
Expected term (in years)
5.5 - 6.5
Risk-free interest rate (%)
3.8% - 4.2%
Expected volatility (%)
55.6% - 62.8%
Dividend yield (%)—
Weighted average grant date fair value per share$9.77
The fair value of each PSU granted subject to a market condition during the three months ended March 31, 2024 was estimated as of the grant date using a Monte Carlo simulation with the following assumptions:
Three Months Ended
March 31, 2024
Expected term (in years)3.0
Risk-free interest rate (%)4.5%
Expected volatility (%)72.2%
Dividend yield (%)—
Weighted average grant date fair value per share$18.82
Schedule of Restricted Stock Activity
A summary of the restricted stock activity under the Company’s plans for the three months ended March 31, 2024 is as follows:
Number of Restricted
Shares		Weighted Average Grant Date Fair Value
Nonvested at December 31, 20231,961,919 $13.83 
Granted378,996 $16.40 
Vested(47,338)$11.89 
Forfeited(9,008)$13.85 
Nonvested at March 31, 20242,284,569 $14.29 
A summary of the PSU activity under the Company’s plans for the three months ended March 31, 2024 is as follows:

Number of Stock UnitsWeighted Average Grant Date Fair Value
Nonvested at December 31, 2023305,105 $21.83 
Granted358,666 $17.64 
Vested— $— 
Forfeited— $— 
Nonvested at March 31, 2024663,771 $19.56