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Stock-Based Compensation (Tables)
3 Months Ended
Mar. 31, 2024
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:

 

 

 

Three Months Ended March 31,

 

 

 

2024

 

 

2023

 

Expected volatility (%)

 

 

73.5

%

 

 

81.4

%

Risk-free interest rate (%)

 

 

4.3

%

 

 

3.6

%

Expected dividend yield

 

 

 

 

 

 

Expected term (years)

 

 

6.8

 

 

 

6.0

 

 

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 $1.3 million and $1.2 million for the three months ended March 31, 2024 and 2023, respectively, which was included in the consolidated statements of operations and comprehensive loss as follows (in thousands):

 

 

 

Three Months Ended March 31,

 

 

 

2024

 

 

2023

 

Sales and marketing

 

$

8

 

 

$

17

 

Operations

 

 

102

 

 

 

190

 

Technology and product development

 

 

64

 

 

 

110

 

General and administrative

 

 

1,126

 

 

 

834

 

Total

 

$

1,300

 

 

$

1,151

 

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 for the three months ended March 31, 2024 is as follows:

 

 

Number of
Shares

 

 

Weighted-
Average
Grant Date Fair
Value

 

Balance, December 31, 2023

 

 

3,244,369

 

 

$

5.30

 

RSUs granted

 

 

6,042,500

 

 

 

0.17

 

RSUs vested

 

 

(3,018,362

)

 

 

1.21

 

RSUs canceled

 

 

(793,031

)

 

 

3.89

 

Balance, March 31, 2024

 

 

5,475,476

 

 

$

2.10

 

Summary of Stock Option Activity

Stock option activity for the three months ended March 31, 2024 (in thousands, except share amounts and per unit data) is as follows:

 

 

Number of
Shares

 

 

Weighted-
Average
Exercise
Price

 

 

Weighted-
Average
Remaining
Contractual
Life (Years)

 

 

Aggregate
Intrinsic
Value

 

Balance, December 31, 2023

 

 

7,997,004

 

 

$

1.78

 

 

 

7.53

 

 

$

10

 

Options granted

 

 

88,050,000

 

 

 

0.25

 

 

 

9.91

 

 

 

5,283

 

Options exercised

 

 

 

 

 

 

 

 

 

 

 

 

Options expired

 

 

(181,478

)

 

 

4.16

 

 

 

 

 

 

4

 

Options forfeited

 

 

(192,833

)

 

 

1.22

 

 

 

 

 

 

6

 

Balance, March 31, 2024

 

 

95,672,693

 

 

$

0.37

 

 

 

9.73

 

 

$

5,467

 

Vested and Exercisable,
   March 31, 2024

 

 

3,478,648

 

 

 

2.56

 

 

 

6.43

 

 

 

58

 

Vested and Exercisable and Expected to Vest,
   March 31, 2024

 

 

95,672,693

 

 

$

0.37

 

 

 

9.73

 

 

$

5,467

 

Summary of The Company Recognized Stock-Based Compensation Expense Related to Stock Options

The Company recognized stock-based compensation expense related to RSUs of $2.0 million and $2.4 million for the three months ended March 31, 2024 and 2023, respectively, which was included in the consolidated statements of operations and comprehensive loss as follows (in thousands):

 

 

 

Three Months Ended March 31,

 

 

 

2024

 

 

2023

 

Sales and marketing

 

$

84

 

 

$

115

 

Operations

 

 

305

 

 

 

629

 

Technology and product development

 

 

797

 

 

 

898

 

General and administrative

 

 

813

 

 

 

772

 

Total

 

$

1,999

 

 

$

2,414