Equity-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2022

Schedule of Share Based Compensation Activity [Abstract]

Summary of the Option Activity under the Equity Compensation Plans

A summary of the option activity under the Company’s equity compensation plans is as follows:

	Options Outstanding
	Number of Options			Weighted-Average Exercise Price (per option)		Weighted-Average Remaining Contractual Term (in years)		Aggregate Intrinsic Value (in thousands)
Outstanding at December 31, 2021		41,753,042		$	3.86		5.92	$	11,379
Granted		15,509,878			1.21
Exercised		(1,720,163	)		1.55
Forfeited		(6,075,160	)		2.17
Expired		(167,868	)		1.22
Outstanding at June 30, 2022		49,299,729		$	2.98		6.06	$	1,425
Exercisable at June 30, 2022		24,065,850		$	2.30		2.91	$	—

Summary of RSU Activity

A summary of RSU activity is as follows:

	RSUs Outstanding
	Number of RSUs			Weighted-Average Fair Value (per RSU)
Outstanding at December 31, 2021		573,678		$	5.97
Granted		2,606,735			1.23
Vested		(210,146	)		6.68
Forfeited		(251,082	)		4.62
Outstanding at June 30, 2022		2,719,185		$	1.49

Summary of Assumptions Used to Determine the Fair Value of Option Grants

The fair value of each award as of the date of grant is estimated using a Black-Scholes option-pricing model. The following table summarizes the weighted-average assumptions used to determine the fair value of option grants:

	Six months ended June 30,
	2022			2021
Risk-free rate		2.8	%		0.7	%
Dividend yield rate		—			—
Volatility		52.6	%		53.9	%
Expected term (in years)		6.25			6.23
Weighted-average grant date fair value	$	0.64		$	4.91

Summary of Equity-Based Compensation Expense

Equity-based compensation expense for the three and six months ended June 30, 2022 and 2021 was as follows (in thousands):

	Three months ended June 30,					Six months ended June 30,
	2022			2021		2022		2021
Cost of revenue	$	382		$	91	$	717	$	182
Selling and marketing		1,018			1,616		2,657		3,333
Enterprise technology and development		(17	)		357		910		663
General and administrative		1,618			458		3,281		917
Total equity-based compensation	$	3,001		$	2,522	$	7,565	$	5,095