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Stock-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2024

Share-Based Payment Arrangement [Abstract]

Schedule of Stock Option Activity

A summary of the Company’s option activity during the three months ended March 31, 2024 was as follows (in thousands, except share and per share amounts):

									Weighted-
					Weighted-				Average
					Average				Remaining				Aggregate
	Options				Exercise Price				Contractual				Intrinsic
	Outstanding				per Share				Life (years)				Value
Outstanding at December 31, 2023		3,849,350			$	7.87				5.06			$	38,505
Options exercised		(67,746	)			1.44
Options forfeited		(1,333	)			8.66
Outstanding at March 31, 2024		3,780,271			$	7.98				4.85			$	55,817
Exercisable at March 31, 2024		3,732,980			$	7.97				4.83			$	55,161

No options were granted or expired during the three months ended March 31, 2024.

Summary of RSU Activity

A summary of the Company’s RSU activity during the three months ended March 31, 2024 was as follows:

					Weighted-
					Average
	Number of				Grant Date
	RSUs Outstanding				Fair Value
Awarded and unvested at December 31, 2023		1,946,006			$	12.74
Awards granted		995,548				19.20
Awards vested		(235,619	)			11.42
Awards forfeited		(25,580	)			9.89
Awarded and unvested at March 31, 2024		2,680,355			$	15.28

Summary of Stock Based Compensation Expense

Stock-based compensation expense included in the condensed consolidated statements of operations was as follows:

		Three Months Ended March 31,
		2024				2023
		(in thousands)
Cost of revenue		$	51			$	45
Research and development			608				546
Sales and marketing			1,310				716
General and administrative			964				852
Total stock-based compensation		$	2,933			$	2,159

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Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement.

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Tabular disclosure of the number and weighted-average grant date fair value for restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock units that were granted, vested, or forfeited during the year.

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Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value.

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