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Share-based compensation (Tables)
 3 Months Ended
Mar. 31, 2024
Share-Based Payment Arrangements [Abstract]  
Schedule of Expense Associated With Each Component associated with each component is as follows for the three months ended March 31:
Three months ended March 31,
2024
2023
$$
Stock options767 566 
DSUs268 229 
RSUs871 437 
ESPP26 35 
1,932 1,267 

The following table presents share-based compensation expense by function for the three months ended March 31:
Three months ended March 31,
2024
2023
$$
Cost of revenue93 25 
General and administrative1,125 733 
Sales and marketing455 445 
Research and development259 64 
1,932 1,267 
Schedule of Changes in Stock Options
The changes in the number of stock options during the three months ended March 31, 2024 and 2023 were as follows:
2024
2023
Number of optionsWeighted average exercise priceNumber of optionsWeighted average exercise price
#C$#C$
Options outstanding – January 1825,091 28.37 1,349,001 13.60 
Options granted91,361 73.54 207,127 52.38 
Options forfeited(12,630)49.78 (11,915)46.32 
Options exercised(13,680)26.66 (8,735)16.00 
Options outstanding – March 31
890,142 32.73 1,535,478 18.56 
Options exercisable – March 31
516,355 17.76 1,003,393 4.83 
Schedule of Number and Weighted Average Remaining Contractual Life of Stock Options Outstanding and Exercisable
The weighted average fair value of share options granted during the three months ended March 31, 2024 and 2023 was estimated at the date of grant using the Black-Scholes option pricing model using the following inputs:

2024
2023
C$C$
Weighted average stock price valuation$73.54 $52.38 
Weighted average exercise price$73.54 $52.38 
Risk-free interest rate3.58 %2.98 %
Expected life in years4.54.5
Expected dividend yield— %— %
Volatility57 %65 %
Weighted average fair value of options issued$36.70 $28.26 
The following table is a summary of the Company’s stock options outstanding as at March 31, 2024:
Options outstandingOptions exercisable
Exercise price rangeNumber outstandingWeighted average remaining contractual life (years)Exercise price rangeNumber exercisable
C$##C$#
0.0001 - 1.09
235,320 2.48
0.0001 - 1.09
235,320 
8.86 - 11.06
23,985 6.74
8.86 - 11.06
21,242 
15.79 - 16.00
170,877 5.52
15.79 - 16.00
131,309 
26.43 - 60.00
333,580 5.62
26.43 - 60.00
113,748 
60.01 - 95.12
126,380 5.36
60.01 - 95.12
14,736 
890,142 4.76516,355 

The following table is a summary of the Company’s stock options outstanding as at March 31, 2023:
Options outstandingOptions exercisable
Exercise price rangeNumber outstandingWeighted average remaining contractual life (years)Exercise price rangeNumber exercisable
C$##C$#
0.0001 - 1.09
784,368 4.21
0.0001 - 1.09
784,368 
8.86 - 11.06
51,811 7.71
8.86 - 11.06
35,126 
15.79 - 16.00
246,312 6.53
15.79 - 16.00
139,060 
26.43 - 60.00
410,075 6.85
26.43 - 60.00
31,646 
60.01 - 95.12
42,912 8.28
60.01 -95.12
13,193 
1,535,478 5.571,003,393 
Schedule of 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 March 31, 2024:
Options outstandingOptions exercisable
Exercise price rangeNumber outstandingWeighted average remaining contractual life (years)Exercise price rangeNumber exercisable
C$##C$#
0.0001 - 1.09
235,320 2.48
0.0001 - 1.09
235,320 
8.86 - 11.06
23,985 6.74
8.86 - 11.06
21,242 
15.79 - 16.00
170,877 5.52
15.79 - 16.00
131,309 
26.43 - 60.00
333,580 5.62
26.43 - 60.00
113,748 
60.01 - 95.12
126,380 5.36
60.01 - 95.12
14,736 
890,142 4.76516,355 

The following table is a summary of the Company’s stock options outstanding as at March 31, 2023:
Options outstandingOptions exercisable
Exercise price rangeNumber outstandingWeighted average remaining contractual life (years)Exercise price rangeNumber exercisable
C$##C$#
0.0001 - 1.09
784,368 4.21
0.0001 - 1.09
784,368 
8.86 - 11.06
51,811 7.71
8.86 - 11.06
35,126 
15.79 - 16.00
246,312 6.53
15.79 - 16.00
139,060 
26.43 - 60.00
410,075 6.85
26.43 - 60.00
31,646 
60.01 - 95.12
42,912 8.28
60.01 -95.12
13,193 
1,535,478 5.571,003,393 
Schedule of Number of DSUs and RSUs Granted
DSUs

The following table presents information concerning the number of DSUs granted by the Company:
#
DSUs – December 31, 2023
115,576 
Granted (at C$66.82 per unit)
1,212 
DSUs - March 31, 2024
116,788 

RSUs

The following table presents information concerning the number of RSUs granted by the Company:
#
RSUs – December 31, 2023
160,150 
Granted (at C$73.54 per unit)
45,566 
Released (at C$40.30 - $86.38 per unit)
(27,626)
Forfeited (at C$52.15 - $86.38 per unit)
(5,279)
RSUs - March 31, 2024
172,811