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Stock-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2022
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]  
Summary of the weighted-average assumptions used in the valuation of stock options granted

The following table summarizes the weighted-average assumptions used in the valuation of stock options granted:

December 31,

 

2022

 

 

2021

 

Expected volatility (%)

 

 

77.7

%

 

 

80.7

 

Risk-free interest rate (%)

 

 

2.9

%

 

 

1.0

 

Expected dividend yield

 

 

 

 

 

 

Expected term (years)

 

 

6.0

 

 

 

6.1

 

Summary of the company recognized stock-based compensation expense related to stock options

The Company recognized stock-based compensation expense related to stock options of $4.8 million, and $9.7 million for the years ended December 31, 2022 and 2021, respectively, which was included in the consolidated statements of operations and comprehensive loss as follows (in thousands):

 

Year ended
December 31, 2022

 

 

Year ended
December 31, 2021

 

Sales and marketing

 

$

689

 

 

$

1,805

 

Operations

 

 

689

 

 

 

1,217

 

Technology and product development

 

 

1,191

 

 

 

2,729

 

General and administrative

 

 

2,235

 

 

 

3,905

 

Total

 

$

4,804

 

 

$

9,656

 

Restricted Stock Units (RSUs) [Member]  
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]  
Summary of restricted stock units (RSUs) activity

Restricted stock units (RSUs) activity is as follows:

 

Number of
Shares

 

 

Weighted-
Average
Grant Date Fair
Value

 

Balance, December 31, 2021

 

 

669,606

 

 

$

7.31

 

RSUs granted

 

 

3,366,262

 

 

8.62

 

RSUs vested

 

 

(515,002

)

 

 

7.37

 

RSUs canceled

 

 

(70,074

)

 

 

5.46

 

Balance, December 31, 2022

 

 

3,450,792

 

 

$

8.52

 

Summary of the company recognized stock-based compensation expense related to stock options

The Company recognized stock-based compensation expense related to RSUs of $4.3 million and $1.8 million for the years ended December 31, 2022 and 2021, respectively, which was included in the consolidated statements of operations and comprehensive loss as follows (in thousands):

 

Year ended
December 31, 2022

 

 

Year ended
December 31, 2021

 

Sales and marketing

 

$

734

 

 

$

305

 

Operations

 

 

734

 

 

 

378

 

Technology and product development

 

 

1,372

 

 

 

800

 

General and administrative

 

 

1,483

 

 

 

329

 

Total

 

$

4,323

 

 

$

1,812

 

Stock Options [Member]  
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]  
Summary of stock option activity

Stock option activity is as follows:

 

Number of
Shares

 

 

Weighted-
Average
Exercise
Price

 

 

Weighted-
Average
Remaining
Contractual
Life (Years)

 

 

Aggregate
Intrinsic
Value

 

Balance, December 31, 2021

 

 

8,665,557

 

 

$

3.24

 

 

 

8.21

 

 

$

6,889

 

Options granted

 

 

1,014,113

 

 

 

3.90

 

 

 

9.03

 

 

 

2,470

 

Options exercised(1)

 

 

(3,268,659

)

 

 

2.50

 

 

 

7.00

 

 

 

12,529

 

Options expired

 

 

(278,069

)

 

 

2.37

 

 

 

 

 

 

1,154

 

Options forfeited

 

 

(998,610

)

 

 

3.25

 

 

 

 

 

 

3,495

 

Balance, December 31, 2022

 

 

5,134,332

 

 

$

3.40

 

 

 

6.50

 

 

$

16,660

 

Vested and Exercisable,
   December 31, 2022

 

 

2,791,868

 

 

 

2.95

 

 

 

4.96

 

 

 

10,073

 

Vested and Exercisable and Expected to Vest,
   December 31, 2022

 

 

5,134,332

 

 

$

3.40

 

 

 

6.50

 

 

$

16,660

 

(1)
The number of options exercised includes the common stock options that were legally exercised in exchange of the nonrecourse promissory notes during the year ended December 31, 2021.