Equity Based Awards (Tables)
|
9 Months Ended |
Sep. 30, 2024 |
|---|
| Share-Based Payment Arrangement [Abstract] |
|
| Summary of Stock Option Activity |
Option activity under the plan for the year to date period ending September 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 |
|
|
1,088,845 |
|
|
$ |
20.71 |
|
|
|
6.13 |
|
Granted |
|
|
— |
|
|
|
— |
|
|
|
|
Exercised |
|
|
— |
|
|
|
— |
|
|
|
|
Forfeited |
|
|
(21,201 |
) |
|
|
19.42 |
|
|
|
|
Outstanding at September 30, 2024 |
|
|
1,067,644 |
|
|
$ |
20.73 |
|
|
|
5.38 |
|
Options exercisable at September 30, 2024 |
|
|
1,057,402 |
|
|
$ |
20.72 |
|
|
|
5.38 |
|
|
| 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) |
|
2024 |
|
|
2023 |
|
Intrinsic value of options exercised |
|
$ |
— |
|
|
$ |
501 |
|
|
| Summary of Restricted Stock Units Activity |
The following table summarizes the RSU activity for the nine months ended September 30, 2024:
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|
|
|
|
|
|
|
|
|
Number of
Shares |
|
|
Weighted-
Average
Grant Date Fair Value
(Per
Share) |
|
Outstanding at December 31, 2023 |
|
|
1,531,100 |
|
|
$ |
21.21 |
|
Granted |
|
|
1,239,585 |
|
|
|
4.10 |
|
Vested |
|
|
(422,057 |
) |
|
|
23.49 |
|
Forfeited |
|
|
(242,931 |
) |
|
|
19.44 |
|
Unvested at September 30, 2024 |
|
|
2,105,697 |
|
|
$ |
10.89 |
|
|
| 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) |
|
2024 |
|
|
2023 |
|
|
2024 |
|
|
2023 |
|
Stock options |
|
$ |
294 |
|
|
$ |
684 |
|
|
$ |
889 |
|
|
$ |
2,138 |
|
Restricted stock units |
|
|
2,881 |
|
|
|
3,459 |
|
|
|
9,031 |
|
|
|
8,088 |
|
Stock-based compensation expense for restricted stock units and options |
|
$ |
3,175 |
|
|
$ |
4,143 |
|
|
$ |
9,920 |
|
|
$ |
10,226 |
|
|
| 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, 2024 and 2023:
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|
Three Months Ended September 30, |
|
|
Nine Months Ended September 30, |
|
(in thousands) |
|
2024 |
|
|
2023 |
|
|
2024 |
|
|
2023 |
|
Cost of revenue |
|
$ |
28 |
|
|
$ |
39 |
|
|
$ |
112 |
|
|
$ |
201 |
|
Sales and marketing |
|
|
360 |
|
|
|
448 |
|
|
|
1,152 |
|
|
|
1,423 |
|
Research and development |
|
|
804 |
|
|
|
1,195 |
|
|
|
2,913 |
|
|
|
3,524 |
|
General and administrative |
|
|
1,950 |
|
|
|
2,430 |
|
|
|
5,671 |
|
|
|
5,010 |
|
Total stock-based compensation expense |
|
$ |
3,142 |
|
|
$ |
4,112 |
|
|
$ |
9,848 |
|
|
$ |
10,158 |
|
|