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Shareholders’ Equity (Tables)

3 Months Ended

Mar. 31, 2023

Schedule of Stockholders' Equity Note, Warrants or Rights

A summary of the Company’s outstanding warrants as of March 31, 2023, are presented below (in thousands, except number of shares and exercise price):


	Number of Shares	Weighted Average Exercise Price		Total Intrinsic Value		Weighted Average Remaining Contractual Life (Years)
Outstanding as of December 31, 2022	166,670	$	17.40	$	—	9.6



Outstanding as of March 31, 2023	166,670	$	17.40	$	—	9.3

During the three months ended March 31, 2023 the Company recognized $0.1 million of stock-based compensation and as of March 31, 2023, the unrecognized stock-based compensation totaled $0.2 million.

Share-based Payment Arrangement, Expensed and Capitalized, Amount

During the three months ended March 31, 2023 and 2022 the Company recognized stock-based compensation expense as follows (in thousands):


	Three Months Ended March 31,
		2023		2022
Subscriber related		$	52	$	40
Sales and marketing		6,673		8,734
Technology and development		3,042		2,451
General and administrative		3,921		6,202
		$	13,688	$	17,427

Share-based Payment Arrangement, Activity

A summary of stock option activity for the three months ended March 31, 2023, is as follows (in thousands, except share and per share amounts):


	Number of Shares	Weighted Average Exercise Price		Total Intrinsic Value		Weighted Average Remaining Contractual Life (Years)
Outstanding as of December 31, 2022	10,243,772	$	6.43	$	1,956	6.0

Exercised	(28,663)	$	1.59
Forfeited or expired	(24,708)	$	15.22
Outstanding as of March 31, 2023	10,190,401	$	6.42	$	1,128	5.8

Options vested and exercisable as of March 31, 2023	8,476,816	$	5.89	$	1,128	5.5

A summary of activity under the 2020 Plan for market and service-based stock options for the three months ended March 31, 2023 is as follows (in thousands, except share and per share amounts):


	Number of Shares	Weighted Average Exercise Price		Total Intrinsic Value		Weighted Average Remaining Contractual Life (Years)
Outstanding as of December 31, 2022	4,453,297	$	12.75	$	—	4.7

Outstanding as of March 31, 2023	4,453,297	$	12.75	$	—	4.4

Options vested and exercisable as of March 31, 2023	3,536,630	$	10.98	$	—	4.2

Schedule of Nonvested Restricted Stock Units Activity

A summary of the Company’s time-based restricted stock unit activity during the three months ended March 31, 2023 is as follows:


	Number of Shares	Weighted Average Grant-Date Fair Value
Unvested at December 31, 2022	13,055,629	$	5.25
Granted	57,650	$	2.36
Vested	(230,631)	$	14.47
Forfeited or expired	(418,344)	$	6.06
Unvested at March 31, 2023	12,464,304	$	5.04

A summary of the Company’s performance-based restricted stock unit activity during the three months ended March 31, 2023 is as follows:


	Number of Shares	Weighted Average Grant-Date Fair Value
Unvested at December 31, 2022	1,520,000	$	33.87
Vested	(186,667)	$	33.87
Forfeited	(93,333)	$	33.87
Unvested at March 31, 2023	1,240,000	$	33.87