Equity Based Awards (Tables)
|
9 Months Ended |
Sep. 30, 2023 |
|---|
| Share-Based Payment Arrangement [Abstract] |
|
| Summary of Stock Option Activity |
Option activity under the plan for the year to date period ending September 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 |
|
|
(510,294 |
) |
|
|
0.37 |
|
|
|
|
Forfeited |
|
|
(274,760 |
) |
|
|
2.12 |
|
|
|
|
Outstanding at September 30, 2023 |
|
|
11,137,280 |
|
|
$ |
2.07 |
|
|
6.38 |
|
Options exercisable at September 30, 2023 |
|
|
9,648,460 |
|
|
$ |
2.06 |
|
|
|
6.30 |
|
|
| Summary of Additional information Regarding Exercise of Stock Options |
Additional information regarding the exercise of stock options is as follows:
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|
|
|
|
|
|
|
|
Nine Months Ended September 30, |
|
(in thousands, except weighted average) |
|
2023 |
|
|
2022 |
|
Intrinsic value of options exercised |
|
$ |
501 |
|
|
$ |
3,238 |
|
|
| Summary of Restricted Stock Units Activity |
The following table summarizes the RSU activity for the nine months ended September 30, 2023:
|
|
|
|
|
|
|
|
|
|
|
Number of
Shares |
|
|
Weighted-
Average
Grant Date Fair Value
(Per
Share) |
|
Outstanding at December 31, 2022 |
|
|
11,040,595 |
|
|
$ |
3.94 |
|
Granted |
|
|
10,011,947 |
|
|
|
1.19 |
|
Vested |
|
|
(2,838,998 |
) |
|
|
4.01 |
|
Forfeited |
|
|
(1,839,892 |
) |
|
|
3.83 |
|
Unvested at September 30, 2023 |
|
|
16,373,652 |
|
|
$ |
2.26 |
|
|
| Summary of Recognized Stock-based Compensation Expense |
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|
|
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|
|
|
|
|
|
|
|
Three Months Ended September 30, |
|
|
Nine Months Ended September 30, |
|
(in thousands) |
|
2023 |
|
|
2022 |
|
|
2023 |
|
|
2022 |
|
Stock options |
|
$ |
684 |
|
|
$ |
784 |
|
|
$ |
2,138 |
|
|
$ |
2,727 |
|
Restricted stock units |
|
|
3,459 |
|
|
|
3,989 |
|
|
|
8,088 |
|
|
|
10,336 |
|
Stock-based compensation expense for restricted stock units and options |
|
$ |
4,143 |
|
|
$ |
4,773 |
|
|
$ |
10,226 |
|
|
$ |
13,063 |
|
|
| 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, 2023 and 2022:
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|
Three Months Ended September 30, |
|
|
Nine Months Ended September 30, |
|
(in thousands) |
|
2023 |
|
|
2022 |
|
|
2023 |
|
|
2022 |
|
Cost of revenue |
|
$ |
39 |
|
|
$ |
130 |
|
|
$ |
201 |
|
|
$ |
347 |
|
Sales and marketing |
|
|
448 |
|
|
|
917 |
|
|
|
1,423 |
|
|
|
2,540 |
|
Research and development |
|
|
1,195 |
|
|
|
1,326 |
|
|
|
3,524 |
|
|
|
4,317 |
|
General and administrative |
|
|
2,430 |
|
|
|
2,913 |
|
|
|
5,010 |
|
|
|
8,416 |
|
Total stock-based compensation expense |
|
$ |
4,112 |
|
|
$ |
5,286 |
|
|
$ |
10,158 |
|
|
$ |
15,620 |
|
|