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Share-based compensation (Tables)
 12 Months Ended
Dec. 31, 2022
Share-Based Payment Arrangements [Abstract]  
Expense associated with each component The expense associated with each component is as follows for the year ended December 31:
2022
2021
$$
Stock options2,079 1,328 
DSUs857 696 
RSUs1,638 121 
ESPP139 116 
4,713 2,261 
The following table presents share-based compensation expense by function for the year ended December 31:
2022
2021
$$
Cost of revenue93 154 
General and administrative2,793 1,279 
Sales and marketing1,673 489 
Research and development154 339 
4,713 2,261 
Share-based compensation expenses by function The expense associated with each component is as follows for the year ended December 31:
2022
2021
$$
Stock options2,079 1,328 
DSUs857 696 
RSUs1,638 121 
ESPP139 116 
4,713 2,261 
The following table presents share-based compensation expense by function for the year ended December 31:
2022
2021
$$
Cost of revenue93 154 
General and administrative2,793 1,279 
Sales and marketing1,673 489 
Research and development154 339 
4,713 2,261 
Changes in stock options
The changes in the number of stock options during the years ended December 31, 2022 and 2021 were as follows:
2022
2021
Number of optionsWeighted average exercise priceNumber of optionsWeighted average exercise price
#C$#C$
Options outstanding – January 11,283,088 12.00 1,516,641 6.73 
Options granted175,892 44.86 154,414 62.09 
Options forfeited(95,139)49.57 (166,026)18.54 
Options exercised(14,840)15.06 (221,941)5.95 
Options outstanding – December 31
1,349,001 13.60 1,283,088 12.00 
Options exercisable – December 31
979,666 4.98 866,594 3.04 
Number and weighted average remaining contractual life of stock options outstanding and exercisable
The weighted average fair value of share options granted during the years ended December 31, 2022 and 2021 was estimated at the date of grant using the Black-Scholes option pricing model using the following inputs:

2022
2021
C$C$
Weighted average stock price valuation$44.86 $62.09 
Weighted average exercise price$44.86 $62.09 
Risk-free interest rate2.60 %1.15 %
Expected life in years6.256.25
Expected dividend yield— %— %
Volatility63 %55 %
Weighted average fair value of options issued$26.98 $32.71 
The following table is a summary of the Company’s stock options outstanding as at December 31, 2022:
Options outstandingOptions exercisable
Exercise price rangeNumber outstandingWeighted average remaining contractual life (years)Exercise price rangeNumber exercisable
C$##C$#
0.0001 - 1.09
784,368 4.45
0.0001 - 1.09
784,368 
8.86 - 11.06
51,811 7.95
8.86 - 11.06
21,084 
15.79 - 16.00
259,292 6.77
15.79 - 16.00
147,795 
26.43 - 95.12
253,530 9.04
26.43 - 95.12
26,419 
1,349,001 5.90979,666 
The following table is a summary of the Company’s stock options outstanding as at December 31, 2021:
Options outstandingOptions exercisable
Exercise price rangeNumber outstandingWeighted average remaining contractual life (years)Exercise price rangeNumber exercisable
C$##C$#
0.0001 - 1.09
784,368 5.45
0.0001 - 1.09
748,368 
8.86 - 11.06
65,522 8.80
8.86 - 11.06
9,784 
15.79 - 16.00
284,680 7.77
15.79 - 16.00
104,176 
26.43 - 95.12
148,518 9.40
26.43 - 95.12
4,266 
1,283,088 6.59866,594 
Stock options outstanding and exercisable by range of exercise prices
The following table is a summary of the Company’s stock options outstanding as at December 31, 2022:
Options outstandingOptions exercisable
Exercise price rangeNumber outstandingWeighted average remaining contractual life (years)Exercise price rangeNumber exercisable
C$##C$#
0.0001 - 1.09
784,368 4.45
0.0001 - 1.09
784,368 
8.86 - 11.06
51,811 7.95
8.86 - 11.06
21,084 
15.79 - 16.00
259,292 6.77
15.79 - 16.00
147,795 
26.43 - 95.12
253,530 9.04
26.43 - 95.12
26,419 
1,349,001 5.90979,666 
The following table is a summary of the Company’s stock options outstanding as at December 31, 2021:
Options outstandingOptions exercisable
Exercise price rangeNumber outstandingWeighted average remaining contractual life (years)Exercise price rangeNumber exercisable
C$##C$#
0.0001 - 1.09
784,368 5.45
0.0001 - 1.09
748,368 
8.86 - 11.06
65,522 8.80
8.86 - 11.06
9,784 
15.79 - 16.00
284,680 7.77
15.79 - 16.00
104,176 
26.43 - 95.12
148,518 9.40
26.43 - 95.12
4,266 
1,283,088 6.59866,594 
Number of DSUs and RSUs granted
DSUs

The following table presents information concerning the number of DSUs granted by the Company:
#
DSUs – December 31, 2020
44,142 
Granted (at $51.63 - $96.99 per unit)
15,512 
DSUs – December 31, 2021
59,654 
Granted (at C$37.21 - $86.93 per unit)
27,568 
DSUs - December 31, 2022
87,222 

RSUs

The following table presents information concerning the number of RSUs granted by the Company:
#
RSUs – December 31, 2020
— 
Granted (at C$86.38 - $94.05 per unit)
46,591 
RSUs – December 31, 2021
46,591 
Granted (at C$40.30 - $54.26 per unit)
102,483 
Released (at C$86.38 per unit)
(5,515)
Forfeited (at C$42.24 - $94.05 per unit)
(39,933)
RSUs - December 31, 2022
103,626