Equity Based Awards (Tables)
|
6 Months Ended |
Jun. 30, 2024 |
|---|
| Share-Based Payment Arrangement [Abstract] |
|
| Summary of Stock Option Activity |
Option activity under the plan for the year to date period ending June 30, 2024 is as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Number of
Shares |
|
|
Weighted-
Average
Exercise
Price
(Per
Share) |
|
|
Weighted-
Average
Remaining
Contractual
Life
(in years) |
|
Outstanding at December 31, 2023 |
|
|
10,888,451 |
|
|
$ |
2.07 |
|
|
|
6.13 |
|
Granted |
|
|
— |
|
|
|
— |
|
|
|
|
Exercised |
|
|
— |
|
|
|
— |
|
|
|
|
Forfeited |
|
|
(208,491 |
) |
|
|
1.94 |
|
|
|
|
Outstanding at June 30, 2024 |
|
|
10,679,960 |
|
|
$ |
2.07 |
|
|
5.63 |
|
Options exercisable at June 30, 2024 |
|
|
10,308,889 |
|
|
$ |
2.07 |
|
|
|
5.61 |
|
|
| Summary of Additional information Regarding Exercise of Stock Options |
Additional information regarding the exercise of stock options is as follows:
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|
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|
|
|
|
|
|
Six months ended June 30, |
|
(in thousands, except weighted average) |
|
2024 |
|
|
2023 |
|
Intrinsic value of options exercised |
|
$ |
— |
|
|
$ |
493 |
|
|
| Summary of Restricted Stock Units Activity |
The following table summarizes the RSU activity for the six months ended June 30, 2024:
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|
|
|
|
|
|
|
|
|
|
Number of
Shares |
|
|
Weighted-
Average
Grant Date Fair Value
(Per
Share) |
|
Outstanding at December 31, 2023 |
|
|
15,310,998 |
|
|
$ |
2.12 |
|
Granted |
|
|
2,496,011 |
|
|
|
0.46 |
|
Vested |
|
|
(3,250,310 |
) |
|
|
2.22 |
|
Forfeited |
|
|
(1,040,967 |
) |
|
|
2.33 |
|
Unvested at June 30, 2024 |
|
|
13,515,732 |
|
|
$ |
1.78 |
|
|
| Summary of Recognized Stock-based Compensation Expense |
|
|
|
|
|
|
|
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|
|
|
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|
Three Months Ended June 30, |
|
|
Six Months Ended June 30, |
|
(in thousands) |
|
2024 |
|
|
2023 |
|
|
2024 |
|
|
2023 |
|
Stock options |
|
$ |
296 |
|
|
$ |
716 |
|
|
$ |
595 |
|
|
$ |
1,454 |
|
Restricted stock units |
|
|
2,951 |
|
|
|
1,222 |
|
|
|
6,150 |
|
|
|
4,629 |
|
Stock-based compensation expense for restricted stock units and options |
|
$ |
3,247 |
|
|
$ |
1,938 |
|
|
$ |
6,745 |
|
|
$ |
6,083 |
|
|
| Summary Of Stock-based Compensation Based On Awards Granted |
The stock-based compensation expense for stock-based awards and earnout shares were recognized in the following captions within the condensed consolidated statements of operations for the three and six months ended June 30, 2024 and 2023:
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|
Three Months Ended June 30, |
|
|
Six Months Ended June 30, |
|
(in thousands) |
|
2024 |
|
|
2023 |
|
|
2024 |
|
|
2023 |
|
Cost of revenue |
|
$ |
35 |
|
|
$ |
89 |
|
|
$ |
84 |
|
|
$ |
162 |
|
Sales and marketing |
|
|
387 |
|
|
|
499 |
|
|
|
792 |
|
|
|
975 |
|
Research and development |
|
|
1,009 |
|
|
|
1,160 |
|
|
|
2,110 |
|
|
|
2,329 |
|
General and administrative |
|
|
1,814 |
|
|
|
(58 |
) |
|
|
3,720 |
|
|
|
2,580 |
|
Total stock-based compensation expense |
|
$ |
3,245 |
|
|
$ |
1,690 |
|
|
$ |
6,706 |
|
|
$ |
6,046 |
|
|