Equity Based Awards (Tables)
|
9 Months Ended |
Sep. 30, 2022 |
|---|
| Share-Based Payment Arrangement [Abstract] |
|
| Summary of Stock Option Activity |
Option activity under the plan for the year to date period ending September 30, 2022 is as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Number of
Shares |
|
|
Weighted-
Average
Exercise
Price
(Per
Share) |
|
|
Weighted-
Average
Remaining
Contractual
Life
(in years) |
|
Outstanding at December 31, 2021 |
|
|
15,929,479 |
|
|
$ |
1.81 |
|
|
|
8.71 |
|
Granted |
|
|
— |
|
|
|
— |
|
|
|
|
Exercised |
|
|
(1,708,818 |
) |
|
|
1.22 |
|
|
|
|
Forfeited |
|
|
(1,834,604 |
) |
|
|
2.14 |
|
|
|
|
Outstanding at September 30, 2022 |
|
|
12,386,057 |
|
|
$ |
1.97 |
|
|
7.19 |
|
Options exercisable at September 30, 2022 |
|
|
8,023,339 |
|
|
$ |
1.87 |
|
|
6.94 |
|
|
| 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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|
|
Nine Months Ended September 30, |
|
(in thousands, except weighted average) |
|
2022 |
|
|
2021 |
|
Intrinsic value of options exercised |
|
$ |
3,238 |
|
|
$ |
16,496 |
|
|
| Summary of Restricted Stock Units Activity |
The following table summarizes the RSU activity for the nine months ended September 30, 2022:
|
|
|
|
|
|
|
|
|
|
|
Number of
Shares |
|
|
Weighted-
Average
Grant Date Fair Value
(Per
Share) |
|
Outstanding at December 31, 2021 |
|
|
4,337,556 |
|
|
$ |
9.12 |
|
Granted |
|
|
9,644,783 |
|
|
|
2.48 |
|
Vested |
|
|
(1,045,217 |
) |
|
|
8.81 |
|
Forfeited |
|
|
(623,165 |
) |
|
|
6.65 |
|
Unvested at September 30, 2022 |
|
|
12,313,957 |
|
|
$ |
4.07 |
|
|
| Summary of Recognized Stock-based Compensation Expense |
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|
|
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|
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|
|
|
|
|
|
|
|
Three Months Ended September 30, |
|
|
Nine Months Ended September 30, |
|
(in thousands) |
|
2022 |
|
|
2021 |
|
|
2022 |
|
|
2021 |
|
Stock options |
|
$ |
784 |
|
|
$ |
1,048 |
|
|
$ |
2,727 |
|
|
$ |
3,430 |
|
Restricted stock units |
|
|
3,989 |
|
|
|
1,755 |
|
|
|
10,336 |
|
|
|
2,344 |
|
Stock-based compensation expense for restricted stock units and options |
|
$ |
4,773 |
|
|
$ |
2,803 |
|
|
$ |
13,063 |
|
|
$ |
5,774 |
|
|
| 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 nine months ended September 30, 2022 and 2021:
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|
Three Months Ended September 30, |
|
|
Nine Months Ended September 30, |
|
(in thousands) |
|
2022 |
|
|
2021 |
|
|
2022 |
|
|
2021 |
|
Cost of revenue |
|
$ |
130 |
|
|
$ |
129 |
|
|
$ |
347 |
|
|
$ |
218 |
|
Sales and marketing |
|
|
917 |
|
|
|
856 |
|
|
|
2,540 |
|
|
|
1,176 |
|
Research and development |
|
|
1,326 |
|
|
|
2,043 |
|
|
|
4,317 |
|
|
|
2,768 |
|
General and administrative |
|
|
2,913 |
|
|
|
5,396 |
|
|
|
8,416 |
|
|
|
7,233 |
|
Total stock-based compensation expense |
|
$ |
5,286 |
|
|
$ |
8,424 |
|
|
$ |
15,620 |
|
|
$ |
11,395 |
|
|