Quarterly report pursuant to Section 13 or 15(d)

Equity Based Awards (Tables)

v3.23.1
Equity Based Awards (Tables)
 3 Months Ended
Mar. 31, 2023
Share-Based Payment Arrangement [Abstract]  
Summary of Stock Option Activity Option activity under the plan for the year to date period ending March 31, 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

 

 

(502,299

)

 

 

0.36

 

 

 

 

Forfeited

 

 

(173,225

)

 

 

2.11

 

 

 

 

Outstanding at March 31, 2023

 

 

11,246,810

 

 

$

2.07

 

 

6.89

 

Options exercisable at March 31, 2023

 

 

8,423,719

 

 

$

2.04

 

 

6.77

 
Summary of Additional information Regarding Exercise of Stock Options

Additional information regarding the exercise of stock options is as follows:

 

 

 

Three Months Ended March 31,

 

(in thousands, except weighted average)

 

2023

 

 

2022

 

Intrinsic value of options exercised

 

$

493

 

 

$

2,750

 
Summary of Restricted Stock Units Activity The following table summarizes the RSU activity for the three months ended March 31, 2023:

 

 

 

Number of
Shares

 

 

Weighted-
Average
Grant Date Fair Value
(Per
Share)

 

Outstanding at December 31, 2022

 

 

11,040,595

 

 

$

3.94

 

Granted

 

 

372,100

 

 

 

1.45

 

Vested

 

 

(681,560

)

 

 

4.42

 

Forfeited

 

 

(337,914

)

 

 

3.85

 

Unvested at March 31, 2023

 

 

10,393,221

 

 

$

3.82

 
Summary of Recognized Stock-based Compensation Expense

 

 

Three Months Ended March 31,

 

(in thousands)

 

2023

 

 

2022

 

Stock options

 

$

738

 

 

$

987

 

Restricted stock units

 

 

3,406

 

 

 

3,298

 

Stock-based compensation expense for restricted stock units and options

 

$

4,144

 

 

$

4,285

 
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 months ended March 31, 2023 and 2022:

 

 

 

Three Months Ended March 31,

 

(in thousands)

 

2023

 

 

2022

 

Cost of revenue

 

$

73

 

 

$

115

 

Sales and marketing

 

 

475

 

 

 

848

 

Research and development

 

 

1,147

 

 

 

1,419

 

General and administrative

 

 

2,661

 

 

 

3,040

 

Total stock-based compensation expense

 

$

4,356

 

 

$

5,422