XML 50 R35.htm IDEA: XBRL DOCUMENT v3.24.0.1
Stock-based Awards (Tables)
 12 Months Ended
Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]  
Summary of stock option activity
A summary of the Company’s stock option activity for the year ended December 31, 2023 is as follows:
 Number of OptionsWeighted-Average Exercise PriceWeighted-Average Remaining Contractual Life
Aggregate Intrinsic Value (1)
 (in years)(in millions)
Outstanding at December 31, 20225,114,490 $9.50 4.7 
Granted— —   
Exercised(290,519)2.45   
Forfeited/expired(2,583,073)9.29   
Outstanding at December 31, 20232,240,898 $10.65 3.1$0.1 
Vested and expected to vest at December 31, 20232,240,898 $10.65 3.1$0.1 
Exercisable at December 31, 2023
2,130,504 $10.96 2.8$0.1 
(1)The aggregate intrinsic value represents the excess of the closing price of the Company’s common stock of $3.46 on December 31, 2023 over the exercise price of in-the-money stock option awards.
Schedule of activity in connection with the restricted stock units
A summary of the Company’s restricted stock unit (“RSU”) activity for the year ended December 31, 2023 is as follows:
 Number of SharesWeighted-Average Grant Date Fair Value
Non-vested — December 31, 2022
7,519,112 $3.77 
Granted5,149,290 2.31 
Vested(3,321,345)3.59 
Forfeited(3,583,547)3.16 
Non-vested — December 31, 2023
5,763,510 $2.94 
A summary of the Company’s PSU activity for the year ended December 31, 2023 is as follows:
 
Performance Share Units
Weighted-Average Grant Date Fair Value
Outstanding — December 31, 2022
2,488,757 $4.86 
Granted1,939,320 2.75 
Vested(296,235)3.37 
Forfeited(1,613,286)3.67 
Outstanding — December 31, 2023
2,518,556 $4.18 
Schedule of fair value of stock option awards
The fair value of each stock option award was estimated at the date of grant using a Black-Scholes option-pricing model with the following weighted-average assumptions for grants in 2021:
 Year Ended December 31,
 2021
Risk-free interest rate0.95 %
Expected term (years)6.05
Expected volatility65 %
Dividend yield— 
The following weighted-average assumptions were used in estimating the fair value of the PSUs at the date of grant:
 
Year Ended December 31,
 202320222021
Expected volatility of common stock
67 %64 %64 %
Expected volatility of Index
31 %30 %29 %
Average correlation coefficient of the Company and the Index
0.370.320.28
Risk-free interest rate
4.59 %2.55 %0.34 %
Expected term (years)
2.962.953.01
Schedule of stock-based compensation cost relating to stock options, restricted stock awards and RSUs
The Company recorded stock-based compensation cost relating to stock options, RSUs, and PSUs in the following categories on the accompanying consolidated statements of comprehensive loss (in thousands):
 Year Ended December 31,
 202320222021
Cost of revenue$191 $185 $227 
Sales and marketing3,592 4,884 6,958 
Technology and development3,500 4,186 4,489 
General and administrative7,016 8,426 8,721 
Total stock-based compensation expense14,299 17,681 20,395 
Amount capitalized to internal-use software838 1,019 1,296 
Total stock-based compensation cost$15,137 $18,700 $21,691