Share Options—Granted share options expire at the earlier of termination of employment or ten years from the date of grant. Share options generally vest over four years of the employment commencement date or with 25% vesting on the twelve-month anniversary of the employment commencement date, and the remaining on a pro-rata basis each quarter over the next three years. Any options, which are forfeited or not exercised before expiration, become available for future grants.


	Number of Options	Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (Years)	Aggregate Intrinsic Value (000’s)




















Balance, December 31, 2024	4,042,901	$	7.5	6.7	$	7,335
Granted	2,500	9.7
Exercised	(494,281)	6.7
Forfeited	(84,442)	30.6
Balance, June 30, 2025	3,466,678	$	7.0	6.2	$	49,532
Vested and exercisable, June 30, 2025	2,674,214	$	4.6	5.4	$	44,788

The weighted-average grant-date fair value of options granted was approximately $9.70 for the six months ended June 30, 2025 and there was no grant of share options during the six months ended June 30, 2024. The aggregate intrinsic value of options exercised was approximately $7.2 million and $2.6 million for the six months ended June 30, 2025 and 2024, respectively. The total grant date fair value of share options vested for the six months ended June 30, 2025 and 2024, was $3.2 million and $13.9 million, respectively.

The assumptions used to estimate the fair value of share options granted for the six months ended June 30, 2025 were as follows:

As of June 30, 2025, unrecognized compensation expense related to unvested share options was approximately $10.7 million, which is expected to be recognized over a remaining weighted-average period of 1.1 years.

Restricted Stock Units (RSUs)—RSUs for new employees generally vest over two years of the employment commencement date with 50% vesting on the twelve-month anniversary of the employment commencement date, and the remaining on a pro-rata basis each quarter over the remaining twelve months. RSUs for existing employees are granted periodically and generally vest quarterly over periods of 1 to 4 years. Unvested RSUs are forfeited at termination of employment. Any RSUs that are forfeited become available for future grants.


	Number of RSUs	Weighted Average Grant Date Fair Value Per Share












Unvested at December 31, 2024	3,009,918	$	12.0
Granted	2,189,950	10.3
Vested	(1,551,536)	11.7
Forfeited	(326,429)	11.0
Unvested at June 30, 2025	3,321,903	$	11.1

As of June 30, 2025, unrecognized compensation expense related to RSUs was approximately $30.5 million, which is expected to be recognized over a remaining weighted-average period of 0.8 years.

Options to Restricted Shares—Options to restricted shares were granted to certain employees and directors during 2021. See Note 16 to the consolidated financial statements included in the Annual Report on Form 10-K for additional information.

The following table summarized the Company’s options to restricted shares activity during the six months ended June 30, 2025:


	Number of Options	Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (Years)	Aggregate Intrinsic Value (000’s)
















Balance, December 31, 2024	19,948,408	$	19.4	6.2	$	—
Granted	—	—
Exercised	(13,628)	13.9
Forfeited	(25,269)	34.1
Balance, June 30, 2025	19,909,511	$	19.3	5.7	—
Vested and exercisable, June 30, 2025	16,554,033	$	19.3	5.7	$	—

At June 30, 2025, unrecognized compensation expense related to options to restricted shares was approximately $8.0 million, which is expected to be recognized over a remaining weighted-average period of 1.2 years.

Employee Stock Purchase Plan—The Employee Stock Purchase Plan (“ESPP”) allows eligible employees to purchase shares of our Class A Ordinary Shares at a discounted price, normally through payroll deductions, subject to the terms of the ESPP and applicable law. During the six months ended June 30, 2025, 55,876 shares were issued under the ESPP. As of June 30, 2025, 776,837 shares of Class A Ordinary Shares were reserved for issuance under the ESPP. Compensation expense related to the ESPP was $0.1 million and $0.3 million for the three and six months ended June 30, 2025, respectively.

The following table presents the components and classification of share-based compensation for the three and six months ended June 30, 2025 and 2024 (in thousands):


	Three Months Ended June 30,				Six Months Ended June 30,
	2025		2024		2025		2024
Technology, data and product development	$	1,326	$	3,069	$	2,423	$	5,974
Sales and marketing	8,731		3,867		13,511		6,719
General and administrative	8,171		11,108		15,466		20,826
Total	$	18,228	$	18,044	$	31,400	$	33,519