Stock-Based Compensation (Tables)

9 Months Ended

Sep. 30, 2023

Share-Based Payment Arrangement [Abstract]

Summary of Stock-Based Compensation Expense

Included within cost of revenue, sales and marketing, and general and administrative expenses are total stock-based compensation expenses as follows:

	Three months ended September 30,				Nine months ended September 30,
	2023		2022		2023		2022
Cost of revenue	$	688	$	438	$	2,379	$	1,496
Sales and marketing	711		514		2,519		1,655
General and administrative	2,176		1,201		6,058		4,039
Total stock based-compensation expense	$	3,575	$	2,153	$	10,956	$	7,190

Total stock-based compensation expense for the three and nine months ended September 30, 2023 and 2022 includes expenses related to our MarketWise, Inc. 2021 Incentive Award Plan (the “2021 Incentive Award Plan”) our 2021 Employee Stock Purchase Plan (“ESPP”), and profits interests as follows:

	Three months ended September 30,				Nine months ended September 30,
	2023		2022		2023		2022
2021 Incentive Award Plan	$	2,848	$	2,086	$	10,037	$	6,828
Employee Stock Purchase Plan	84		67		276		362
Profits interests	643		—		643		—
Total stock-based compensation expense	$	3,575	$	2,153	$	10,956	$	7,190

Summary of Activities of RSUs

The activities of the RSUs and SARs and the related weighted average grant-date fair value of the respective share classes, including granted, exercised and forfeited, from January 1, 2023 to September 30, 2023, are summarized as follows:

	RSUs			SARs
	Units	Weighted-Average Grant Date Fair Value		Units	Weighted-Average Grant Date Fair Value
Outstanding at January 1, 2023	6,261,543	$	3.45	1,747,473	$	4.05
Granted	5,098,818	1.79		—	—
Exercised or vested	(2,259,892)	3.28		—	—
Forfeited	(604,232)	2.94		(92,885)	4.05
Outstanding at September 30, 2023	8,496,237	$	2.53	1,654,588	$	4.05
Exercisable at September 30, 2023	—	$	—	829,619	$	4.05

Summary of Activities of SARs

The activities of the RSUs and SARs and the related weighted average grant-date fair value of the respective share classes, including granted, exercised and forfeited, from January 1, 2023 to September 30, 2023, are summarized as follows:

	RSUs			SARs
	Units	Weighted-Average Grant Date Fair Value		Units	Weighted-Average Grant Date Fair Value
Outstanding at January 1, 2023	6,261,543	$	3.45	1,747,473	$	4.05
Granted	5,098,818	1.79		—	—
Exercised or vested	(2,259,892)	3.28		—	—
Forfeited	(604,232)	2.94		(92,885)	4.05
Outstanding at September 30, 2023	8,496,237	$	2.53	1,654,588	$	4.05
Exercisable at September 30, 2023	—	$	—	829,619	$	4.05