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Stock-Based Compensation (Tables)

9 Months Ended

Sep. 30, 2024

Share-Based Payment Arrangement [Abstract]

Summary of Stock Option Activity

The table below summarizes the Company’s stock option activity:

(in thousands of USD, except unit price)		Number of Options				Weighted- Average Exercise Price				Weighted-Average Remaining Contractual Term (in years)				Aggregate Intrinsic Value
Balance as of January 1, 2024			10,883,310			$	14.18				5.78			$	75,758
Granted			241,920				22.45				-				-
Forfeited			(86,070	)			17.68				-				-
Exercised			(51,981	)			11.04				-				-
Balance as of September 30, 2024			10,987,179			$	14.35				5.11			$	2,966
Options vested and expected to vest as of September 30, 2024			10,827,764				14.26				4.89				2,966
Options exercisable as of September 30, 2024			7,576,891				11.22				4.21				2,966

Summary of RSU Activity

The table below summarizes the Company’s RSU activity:

		Number of RSUs				Weighted Average Grant-Date Fair Value
Balance as of January 1, 2024			509,192			$	20.34
Granted			2,651,265				22.50
Forfeited			(142,221	)			22.50
Vested			(478,368	)			20.45
Balance as of September 30, 2024			2,539,868			$	22.46

Summary of Compensation Expenses for All Stock-Based Payment Arrangements

The following table presents the effects of stock-based compensation in the Condensed Consolidated Statements of Operations and Comprehensive Income (Loss):

		Three Months Ended								Nine Months Ended
		September 30, 2024				September 30, 2023				September 30, 2024				September 30, 2023
		(in thousands of USD)								(in thousands of USD)
Cost of revenue		$	2,492			$	349			$	8,109			$	951
Marketing			357				137				1,112				351
General and administrative expenses			11,609				2,252				62,893				7,118
Total		$	14,458			$	2,738			$	72,114			$	8,420

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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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-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
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Tabular disclosure of the changes in outstanding nonvested restricted stock units.

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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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