Equity-based Compensation (Tables)
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12 Months Ended |
Dec. 31, 2024 |
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| Share-Based Payment Arrangement [Abstract] |
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| Schedule of Share-Based Payment Arrangement, Option, Activity |
A summary of the Company's time-based stock option activity under the 2021 Plan for the years ended December 31, 2024 and 2023, as adjusted for the Reverse Stock Split, is as follows:
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Number of Options |
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Weighted Average Exercise Price |
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Weighted Average Remaining Contractual Term |
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Aggregate Intrinsic Value |
Balance as of December 31, 2022 |
42,288 |
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$ |
83.36 |
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9.04 |
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$ |
— |
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Granted |
— |
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— |
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Exercised |
— |
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— |
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Forfeited/Repurchased |
(2,468) |
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114.00 |
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Balance as of December 31, 2023 |
39,820 |
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81.47 |
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8.06 |
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— |
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Granted |
— |
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— |
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Exercised |
— |
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— |
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Forfeited/Repurchased |
— |
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— |
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Balance as of December 31, 2024 |
39,820 |
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81.47 |
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7.06 |
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— |
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Vested as of December 31, 2024 |
34,086 |
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$ |
80.66 |
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7.07 |
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$ |
— |
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| Schedule of Share-Based Payment Arrangement, Restricted Stock Unit, Activity |
A summary of the Company's time-based RSU activity under the 2021 Plan for the years ended December 31, 2024 and 2023, as adjusted for the Reverse Stock Split, is as follows:
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Number of Shares |
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Weighted Average
Grant Date
Fair Value
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Balance as of December 31, 2022 |
367,512 |
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$ |
32.81 |
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Granted |
387,067 |
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7.87 |
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Vested |
(130,550) |
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34.20 |
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Forfeited/Repurchased |
(45,116) |
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34.79 |
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Balance as of December 31, 2023 |
578,913 |
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15.67 |
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Granted |
403,458 |
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14.86 |
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Vested |
(274,201) |
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16.37 |
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Forfeited/Repurchased |
(56,883) |
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14.39 |
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Balance as of December 31, 2024 |
651,287 |
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$ |
14.93 |
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| Schedule of Incentive Units |
The following table summarizes time-based incentive unit activity under the 2018 Plan for the years ended December 31, 2024 and 2023:
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Number of Units |
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Weighted Average
Grant Date
Fair value
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Weighted Average Participation Threshold |
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Aggregate Intrinsic Value |
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Balance as of December 31, 2022 |
3,363,856 |
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$ |
1.43 |
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$ |
18.64 |
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$ |
— |
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Granted |
— |
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— |
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— |
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Vested |
(1,987,639) |
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1.37 |
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17.67 |
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Forfeited/Repurchased |
(16,150) |
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3.19 |
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22.68 |
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Balance as of December 31, 2023 |
1,360,067 |
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1.50 |
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20.01 |
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— |
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Granted |
— |
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— |
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— |
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Vested |
(1,185,981) |
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1.52 |
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19.62 |
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Forfeited/Repurchased |
(30,083) |
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1.34 |
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22.68 |
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Balance as of December 31, 2024 |
144,003 |
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$ |
1.40 |
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$ |
22.68 |
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$ |
— |
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Vested as of December 31, 2024 |
9,047,201 |
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| Schedule of ESPP Purchase Rights |
A summary of the Company's ESPP activity under the 2021 Plan for the years ended December 31, 2024, 2023 and 2022, as adjusted for the Reverse Stock Split, was as follows:
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Year Ended December 31, |
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2024 |
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2023 |
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2022 |
Shares purchased using ESPP purchase rights |
20,937 |
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39,050 |
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12,348 |
Weighted average purchase price |
$ |
10.89 |
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$ |
4.14 |
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$ |
18.36 |
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| Schedule of Summarizes The Company’s Equity-based Compensation Expense |
The following table summarizes the Company’s equity-based compensation expense by award type for all Plans:
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Year Ended December 31, |
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2024 |
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2023 |
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2022 |
| Stock options |
$ |
722 |
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$ |
572 |
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$ |
495 |
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| RSUs |
5,601 |
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4,256 |
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2,943 |
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| ESPP purchase rights |
100 |
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148 |
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188 |
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| Time-based incentive units |
1,557 |
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2,664 |
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3,104 |
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| Total |
$ |
7,980 |
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$ |
7,640 |
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$ |
6,730 |
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