Equity Based Awards (Tables)
|
6 Months Ended |
Jun. 30, 2023 |
|---|
| Share-Based Payment Arrangement [Abstract] |
|
| Summary of Stock Option Activity |
Option activity under the plan for the year to date period ending June 30, 2023 is as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Number of
Shares |
|
|
Weighted-
Average
Exercise
Price
(Per
Share) |
|
|
Weighted-
Average
Remaining
Contractual
Life
(in years) |
|
Outstanding at December 31, 2022 |
|
|
11,922,334 |
|
|
$ |
2.00 |
|
|
|
6.99 |
|
Granted |
|
|
— |
|
|
|
— |
|
|
|
|
Exercised |
|
|
(503,251 |
) |
|
|
0.36 |
|
|
|
|
Forfeited |
|
|
(238,533 |
) |
|
|
2.12 |
|
|
|
|
Outstanding at June 30, 2023 |
|
|
11,180,550 |
|
|
$ |
2.07 |
|
|
6.64 |
|
Options exercisable at June 30, 2023 |
|
|
9,037,371 |
|
|
$ |
2.05 |
|
|
6.54 |
|
|
| Summary of Additional information Regarding Exercise of Stock Options |
Additional information regarding the exercise of stock options is as follows:
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|
|
|
|
|
|
|
|
|
|
Six Months Ended June 30, |
|
(in thousands, except weighted average) |
|
2023 |
|
|
2022 |
|
Intrinsic value of options exercised |
|
$ |
493 |
|
|
$ |
3,024 |
|
|
| Summary of Restricted Stock Units Activity |
The following table summarizes the RSU activity for the six months ended June 30, 2023:
|
|
|
|
|
|
|
|
|
|
|
Number of
Shares |
|
|
Weighted-
Average
Grant Date Fair Value
(Per
Share) |
|
Outstanding at December 31, 2022 |
|
|
11,040,595 |
|
|
$ |
3.94 |
|
Granted |
|
|
1,778,314 |
|
|
|
1.12 |
|
Vested |
|
|
(2,007,404 |
) |
|
|
3.93 |
|
Forfeited |
|
|
(588,515 |
) |
|
|
3.51 |
|
Unvested at June 30, 2023 |
|
|
10,222,990 |
|
|
$ |
3.47 |
|
|
| Summary of Recognized Stock-based Compensation Expense |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended June 30, |
|
|
Six Months Ended June 30, |
|
(in thousands) |
|
2023 |
|
|
2022 |
|
|
2023 |
|
|
2022 |
|
Stock options |
|
$ |
716 |
|
|
$ |
957 |
|
|
$ |
1,454 |
|
|
$ |
1,944 |
|
Restricted stock units |
|
|
1,222 |
|
|
|
3,048 |
|
|
|
4,629 |
|
|
|
6,346 |
|
Stock-based compensation expense for restricted stock units and options |
|
$ |
1,938 |
|
|
$ |
4,005 |
|
|
$ |
6,083 |
|
|
$ |
8,290 |
|
|
| 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, 2023 and 2022:
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|
|
|
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|
|
|
Three Months Ended June 30, |
|
|
Six Months Ended June 30, |
|
(in thousands) |
|
2023 |
|
|
2022 |
|
|
2023 |
|
|
2022 |
|
Cost of revenue |
|
$ |
89 |
|
|
$ |
102 |
|
|
$ |
162 |
|
|
$ |
217 |
|
Sales and marketing |
|
|
499 |
|
|
|
775 |
|
|
|
975 |
|
|
|
1,624 |
|
Research and development |
|
|
1,160 |
|
|
|
1,572 |
|
|
|
2,329 |
|
|
|
2,991 |
|
General and administrative |
|
|
(58 |
) |
|
|
2,463 |
|
|
|
2,580 |
|
|
|
5,502 |
|
Total stock-based compensation expense |
|
$ |
1,690 |
|
|
$ |
4,912 |
|
|
$ |
6,046 |
|
|
$ |
10,334 |
|
|