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Shareholders’ Equity (Tables)

9 Months Ended

Sep. 30, 2025

Schedule of Stock-based Compensation Expense

The Company recognized stock-based compensation expense as follows (in thousands):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2025		2024		2025		2024
Subscriber related	$	57	$	80	$	145	$	238
Sales and marketing	2,233		4,047		1,183		13,424
Technology and development	2,872		2,679		8,787		9,188
General and administrative	3,939		2,518		10,706		9,759
Total stock-based compensation expense	$	9,101	$	9,324	$	20,821	$	32,609

Schedule of of Stock Option Activity

A summary of time-based stock option activity for the nine months ended September 30, 2025 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, 2024	10,196,232	$	6.13	$	1,036	4.4

Exercised	(2,253,686)	$	1.29
Forfeited or expired	(3,936)	$	2.64
Outstanding as of September 30, 2025	7,938,610	$	7.51	$	3,620	3.8

Options vested and exercisable as of September 30, 2025	7,620,465	$	7.75	$	2,943	4.1

A summary of activity under the 2020 Plan for market and service-based stock options for the nine months ended September 30, 2025 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, 2024	4,453,297	$	12.75	$	—	2.7

Outstanding as of September 30, 2025	4,453,297	$	12.75	$	—	1.9

Options vested and exercisable as of September 30, 2025	3,994,964	$	11.96	$	—	1.8

Schedule of Nonvested Restricted Stock Units Activity

A summary of the Company’s time-based restricted stock unit activity during the nine months ended September 30, 2025 is as follows:


	Number of Shares	Weighted Average Grant-Date Fair Value
Unvested at December 31, 2024	26,709,357	$	2.47
Granted	3,356,913	$	1.50
Vested	(1,266,315)	$	3.22
Forfeited or expired	(1,795,168)	$	2.53
Unvested at September 30, 2025	27,004,787	$	2.31

A summary of the Company’s performance-based restricted stock unit activity during the nine months ended September 30, 2025 is as follows:


	Number of Shares	Weighted Average Grant-Date Fair Value
Unvested at December 31, 2024	3,031,828	$	5.61
Granted	1,263,273	$	3.01


Unvested at September 30, 2025	4,295,101	$	4.85

A summary of the Company’s market and service-based restricted stock unit activity during the nine months ended September 30, 2025 is as follows:


	Number of Shares	Weighted Average Grant-Date Fair Value
Unvested at December 31, 2024	—	$	—
Granted	1,304,802	$	2.81


Unvested at September 30, 2025	1,304,802	$	2.81

Schedule of Outstanding Warrants

A summary of the Company’s outstanding warrants as of September 30, 2025, 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, 2024	166,670	$	17.40	$	—	7.6


Forfeited or expired	(166,670)	$	17.40
Outstanding as of September 30, 2025	—	N/A		$	—	N/A