Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2023

Share-Based Payment Arrangement [Abstract]

Schedule of fair value weighted-average assumptions

The following table presents, on a weighted average basis, the assumptions used in the Black-Scholes option-pricing model to determine the grant-date fair value of stock options granted during the years ended December 31, 2023 and 2022:

	Year Ended December 31,
	2023		2022
Risk-free interest rate	4.2	%	1.6	%
Expected term (in years)	6.1		6.1
Expected volatility	87.5	%	75.0	%
Expected dividend yield	0.0	%	0.0	%

Summary of stock option activity

The following tables summarize the Company’s stock option activity under the 2021 Equity Incentive Plan (in thousands, except for share and per share data):

	Number of Shares	Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (in years)	Aggregate Intrinsic Value
Outstanding as of December 31, 2021	20,769,130	$	0.39
Granted	2,262,925	3.49
Exercised	(1,896,975)	0.43
Forfeited	(710,707)	0.42
Expired	(27,549)	0.42
Outstanding as of December 31, 2022	20,396,824	$	0.73
Granted	2,840,421	3.12
Exercised	(1,735,978)	0.38
Forfeited	(1,164,932)	1.72
Expired	(11,807)	0.42
Outstanding as of December 31, 2023	20,324,528	$	1.04	6.0	$	74,768
Vested and expected to vest as of December 31, 2023	20,324,528	$	1.04	6.0	$	74,768
Options exercisable as of December 31, 2023	16,114,401	$	0.67	5.4	$	65,339

Summary of restricted stock unit activity

The following table summarizes the Company’s restricted stock units activity under its existing restricted stock unit plan:

	Number of Shares	Grant Date Fair Value
Outstanding as of December 31, 2021	1,951,924	$	6.76
Granted	7,613,472	3.26
Vested	(565,774)	6.72
Forfeited	(1,497,677)	5.15
Outstanding as of December 31, 2022	7,501,945	$	3.54
Granted	9,477,014	3.48
Vested	(2,833,155)	3.55
Forfeited	(1,099,125)	3.54
Outstanding as of December 31, 2023	13,046,679	$	3.49

Schedule of performance shares

The following table summarizes the Company's performance stock units activity under its existing performance stock units plan:

	Number of Shares	Grant Date Fair Value
Outstanding as of December 31, 2021	—	$	—
Granted	947,000	2.65
Vested	—	—
Forfeited	(83,000)	2.65
Outstanding as of December 31, 2022	864,000	$	2.65
Granted	—	—
Vested	(432,000)	2.65
Forfeited	(52,000)	2.67
Outstanding as of December 31, 2023	380,000	$	2.64

Schedule of fair value measurements of common stock warrants granted

The Company utilized a Black-Scholes pricing model to determine the grant-date fair value of the Finback Common Stock Warrants. The assumptions used are presented in the following table:

Warrants - Black Scholes
Risk-free interest rate	0.4	%
Expected term (in years)	3.0
Expected volatility	23.9	%
Expected dividend yield	—	%

Schedule of allocation of share based compensation expense

Stock-based compensation expense was classified in the consolidated statements of operations and comprehensive loss as follows (in thousands):

	Year Ended December 31,
	2023		2022
Cost of revenue	$	583	$	829
Research and development	4,284		4,009
Sales and marketing	9,387		10,038
General and administrative	9,897		7,622
Total stock-based compensation expense	$	24,151	$	22,498

Schedule of stock-based compensation expense

Stock-based compensation expense by award type recognized in the consolidated statements of operations and comprehensive loss was as follows (in thousands):

	Year Ended December 31,
	2023		2022
Stock options	$	2,925	$	1,594
Earn-out shares	2,073		6,499
Warrants	3,147		4,523
RSUs and PSUs	16,006		9,882
Total stock-based compensation expense	$	24,151	$	22,498