XML 41 R27.htm IDEA: XBRL DOCUMENT
v3.24.1.u1

Stock-Based Compensation (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2024
Share-Based Payment Arrangement [Abstract] |
Schedule of Stock-based Compensation Expenses | The following table presents the classification of stock-based compensation expense for employees and non-employees within the Condensed Consolidated Statements of Operations:
| Three months ended March 31,
(in thousands) | 2024 | 2023
Cost of revenue | $ | 766 |  | $ | 1,011 |
Research and development | 7,666 |  | 2,683 |
General and administrative | 7,077 |  | 4,578 |
Total | $ | 15,509 |  | $ | 8,272 |
Schedule of Share-based Payment Arrangement, Option, Activity | Stock option activity during the three months ended March 31, 2024 was as follows:
(in thousands except share and per share amounts) | Shares | Weighted-Average Exercise Price | Weighted-Average Remaining Contractual Life (in years) | Aggregate Intrinsic Value
Outstanding as of December 31, 2023 | 14,957,617 |  | $ | 6.13 |  | 7.0 | $ | 72,416 |
Granted | 2,558,102 |  | 10.09 |  |  |
Cancelled | (178,609) |  | 12.70 |  |  |
Exercised | (1,303,878) |  | 2.80 |  |  | 11,575 |
Outstanding as of March 31, 2024 | 16,033,232 |  | $ | 6.99 |  | 7.3 | $ | 64,131 |
Exercisable as of March 31, 2024 | 8,909,647 |  | $ | 5.49 |  | 6.2 | $ | 51,959 |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions | The following weighted-average assumptions were used to calculate the grant-date fair value of stock options:
| Three months ended March 31,
| 2024 | 2023
Expected term (in years) | 6.3 | 6.3
Expected volatility | 65 | % | 64 | %
Expected dividend yield | — |  | — |
Risk-free interest rate | 4.2 | % | 3.5 | %
Schedule of Nonvested RSU Activity | The following table summarizes Recursion’s RSU activity during the three months ended March 31, 2024:
| Stock units | Weighted-average grant date fair value
Outstanding as of December 31, 2023 | 15,223,764 |  | $ | 8.39 |
Granted | 1,840,877 |  | 10.46 |
Vested | (1,023,464) |  | 8.60 |
Forfeited | (409,634) |  | 7.99 |
Outstanding as of March 31, 2024 | 15,631,543 |  | $ | 8.63 |

X
- References No definition available. + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the changes in outstanding nonvested restricted stock shares. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Subparagraph (c) -Paragraph 2 -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_NonvestedRestrictedStockSharesActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (e) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Subparagraph (f)(2) -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration