XML 47 R32.htm IDEA: XBRL DOCUMENT

Shareholders’ Equity (Tables)

6 Months Ended

Jun. 30, 2024

Schedule of Stockholders' Equity Note, Warrants or Rights

A summary of the Company’s outstanding warrants as of June 30, 2024, 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, 2023	166,670	$	17.40	$	—	8.6



Outstanding as of June 30, 2024	166,670	$	17.40	$	—	8.1

Share-based Payment Arrangement, Expensed and Capitalized, Amount

During the three and six months ended June 30, 2024 and 2023, the Company recognized stock-based compensation expense as follows (in thousands):


	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Subscriber related	$	79	$	57	$	158	$	109
Sales and marketing	4,670		5,990		9,377		12,663
Technology and development	2,631		2,980		6,509		6,022
General and administrative	2,928		4,029		7,241		7,950
	$	10,308	$	13,056	$	23,285	$	26,744

Share-based Payment Arrangement, Activity

A summary of stock option activity for the six months ended June 30, 2024 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, 2023	10,475,607	$	6.31	$	6,534	5.3

Exercised	(4,042)	$	0.87
Forfeited or expired	(165,238)	$	12.57
Outstanding as of June 30, 2024	10,306,327	$	6.21	$	1,009	4.9

Options vested and exercisable as of June 30, 2024	9,678,666	$	6.44	$	1,009	4.8

A summary of activity under the 2020 Plan for market and service-based stock options for the six months ended June 30, 2024 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, 2023	4,453,297	$	12.75	$	—	3.7

Outstanding as of June 30, 2024	4,453,297	$	12.75	$	—	3.2

Options vested and exercisable as of June 30, 2024	3,994,964	$	11.96	$	—	3.1

Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions

The following assumptions were used in determining the fair value of stock options granted during the three and six months ended June 30, 2023:


Dividend yield						—
Expected price volatility						49.8%
Risk free interest rate						3.9%
Expected term (years)						6.0 years

Schedule of Nonvested Restricted Stock Units Activity

A summary of the Company’s time-based restricted stock unit activity during the six months ended June 30, 2024 is as follows:


	Number of Shares	Weighted Average Grant-Date Fair Value
Unvested at December 31, 2023	20,313,775	$	3.85
Granted	2,902,139	$	1.50
Vested	(1,325,450)	$	4.41
Forfeited or expired	(1,617,414)	$	5.14
Unvested at June 30, 2024	20,273,050	$	3.37

A summary of the Company’s performance-based restricted stock unit activity during the six months ended June 30, 2024 is as follows:


	Number of Shares	Weighted Average Grant-Date Fair Value
Unvested at December 31, 2023	2,035,834	$	20.23
Granted	947,035	$	1.55

Forfeited	(189,825)	$	3.26
Unvested at June 30, 2024	2,793,044	$	15.05