Stockholders’ Equity (Tables)
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9 Months Ended |
Sep. 30, 2023 |
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| Equity [Abstract] |
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| Equity Based Compensation Expense |
Stock-based compensation expense, consisting of service-based expense related to the equity incentive plan, including expense from stock options and restricted stock units, and the employee stock purchase plan, as well as expenses related to secondary sales of shares of Company common stock, was classified as follows in the accompanying condensed consolidated statements of operations for each of the periods presented (in thousands):
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Three Months Ended September 30, |
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Nine Months Ended September 30, |
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2023 |
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2022 |
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2023 |
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2022 |
| Cost of revenue |
$ |
258 |
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$ |
190 |
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$ |
722 |
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$ |
514 |
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| Sales and marketing |
1,274 |
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844 |
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3,457 |
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2,331 |
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| Research and development |
1,474 |
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1,292 |
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3,727 |
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2,922 |
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| General and administrative |
3,181 |
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2,996 |
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8,670 |
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7,460 |
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| Total |
$ |
6,187 |
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$ |
5,322 |
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$ |
16,576 |
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$ |
13,227 |
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| Schedule of Stock Option Activity |
Stock option activity was as follows:
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Number of Options |
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Weighted Average Exercise Price |
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Weighted Average Remaining Contractual Life (years) |
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Aggregate Intrinsic Value
(in thousands) |
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| Outstanding as of December 31, 2022 |
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4,185,876 |
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$ |
6.32 |
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5.03 |
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$ |
3,470 |
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| Exercisable as of December 31, 2022 |
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3,060,997 |
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$ |
6.47 |
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3.87 |
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$ |
3,286 |
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| Granted |
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— |
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$ |
— |
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| Exercised |
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(41,175) |
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$ |
1.76 |
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| Forfeited and expired |
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(230,775) |
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$ |
6.16 |
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| Outstanding as of March 31, 2023 |
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3,913,926 |
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$ |
6.38 |
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4.38 |
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$ |
3,928 |
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| Exercisable as of March 31, 2023 |
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3,101,573 |
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$ |
6.43 |
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3.42 |
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$ |
3,744 |
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| Granted |
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— |
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$ |
— |
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| Exercised |
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(308,966) |
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$ |
1.77 |
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| Forfeited and expired |
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(221,306) |
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$ |
14.38 |
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| Outstanding as of June 30, 2023 |
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3,383,654 |
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$ |
6.28 |
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4.68 |
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$ |
16,411 |
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| Exercisable as of June 30, 2023 |
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2,698,899 |
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$ |
6.28 |
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3.89 |
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$ |
13,104 |
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| Granted |
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— |
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$ |
— |
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| Exercised |
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(1,176,101) |
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$ |
9.13 |
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| Forfeited and expired |
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(19,924) |
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$ |
12.54 |
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| Outstanding as of September 30, 2023 |
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2,187,629 |
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$ |
4.69 |
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6.45 |
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$ |
7,565 |
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| Exercisable as of September 30, 2023 |
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1,619,815 |
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$ |
4.10 |
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6.04 |
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$ |
6,566 |
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| Schedule of Restricted Stock Unit Activity |
Restricted Stock Unit activity was as follows:
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Number of Shares |
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Weighted Average Grant Date Fair Value |
| Outstanding as of December 31, 2022 |
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8,278,361 |
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$ |
5.51 |
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| Granted |
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57,137 |
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$ |
5.38 |
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| Vested |
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(586,640) |
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$ |
6.43 |
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| Canceled |
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(291,799) |
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$ |
5.77 |
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| Outstanding as of March 31, 2023 |
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7,457,059 |
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$ |
5.42 |
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| Granted |
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2,553,295 |
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$ |
5.27 |
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| Vested |
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(1,046,426) |
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$ |
5.67 |
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| Canceled |
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(149,850) |
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$ |
5.68 |
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| Outstanding as of June 30, 2023 |
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8,814,078 |
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$ |
5.36 |
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| Granted |
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1,187,746 |
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$ |
8.69 |
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| Vested |
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(1,148,942) |
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$ |
5.40 |
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| Canceled |
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(57,453) |
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$ |
5.41 |
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| Outstanding as of September 30, 2023 |
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8,795,429 |
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$ |
5.81 |
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