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Stock-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]  
Share-based Payment Arrangement, Expensed and Capitalized, Amount
During the years ended December 31, 2022, 2021 and 2020 the Company recognized stock-based compensation expense as follows:
Years Ended December 31,
202220212020
Subscriber related$144 $71 $32 
Sales and marketing22,198 7,818 2,395 
Technology and development9,998 13,752 5,446 
General and administrative20,114 31,509 43,866 
$52,454 $53,150 $51,739 
Share-based Payment Arrangement, Activity
A summary of stock option activity for the year ended December 31, 2022, is as follows (in thousands, except share and per share amounts):
Number of Shares Weighted Average
 Exercise Price
Total Intrinsic ValueWeighted Average Remaining Contractual Life
 (in years)
Outstanding as of December 31, 2021
11,454,890 $6.40 $70,231 7.4
Exercised(616,304)$1.34   
Forfeited or expired(594,814)$11.16   
Outstanding as of December 31, 2022
10,243,772 $6.43 $1,956 6.0
    
Options vested and exercisable as of December 31, 2022
8,118,408 $5.76 $1,956 5.7
A summary of activity under the Plan for market and service-based stock options for the year ended December 31, 2022 is as follows (in thousands, except share and per share amounts):
Number of SharesWeighted Average
Exercise Price
Total Intrinsic ValueWeighted
Average
Remaining
Contractual Life
(in years)
Outstanding as of December 31, 2021
4,453,297 $12.75 $17,933 5.7
Outstanding as of December 31, 2022
4,453,297 $12.75 $— 4.7
    
Options vested and exercisable as of December 31, 2022
3,536,630 $10.98 $— 4.5
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions
The Company estimated the fair value of the warrants granted during the year ended December 31, 2022 using the Monte Carlo valuation model as follows:
December 31, 2022
Dividend yield
Expected price volatility107.0%
Risk free interest rate2.8%
Expected term (years)10.0
The following was used in determining the fair value of stock options granted during the year ended December 31, 2021:
Dividend yield— %
Expected price volatility
44.8%-45.2%
Risk free interest rate
0.6%-1.1%
Expected term (years)
5.8 - 6.1 years
Stock based compensation expense is based on the estimated value of the awards on the grant date, and is recognized over the period from the grant date through the expected vest dates of each vesting condition, both of which were estimated based on a Monte Carlo simulation model applying the following key assumptions as of the grant date:
December 31, 2021
Dividend yield— 
Expected volatility71.5 %
Risk free rate1.3 %
Derived service period2.0 years
Schedule of Nonvested Restricted Stock Units Activity
A summary of the Company’s time-based restricted stock unit activity during the year ended December 31, 2022 is as follows:
Number of Shares Weighted Average Grant-Date
 Fair Value
Unvested at December 31, 2021
2,785,800 $25.73 
Granted12,803,284 $3.68 
Vested(1,611,348)$23.25 
Forfeited(922,107)$13.82 
Unvested at December 31, 2022
13,055,629 $5.25 
A summary of the Company’s performance-based restricted stock unit activity during the year ended December 31, 2022 and 2021 is as follows:
Number of SharesWeighted Average Grant-Date
 Fair Value
Unvested at December 31, 2021
1,900,000 $33.87 
Vested(380,000)$33.87 
Unvested at December 31, 2022
1,520,000 $33.87