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Equity and Warrants (Tables)
12 Months Ended
Dec. 31, 2022
Equity and Warrants  
Summary of fully diluted capital structure

December 31, 

2022

Issued and outstanding common shares

    

96,405,838

Earnout shares

 

2,050,000

Total common shares issued and outstanding

98,455,838

Common shares reserved for future issuance:

Private warrants

1,795,700

Stock options (Note 9)

 

3,862,918

Restricted and performance stock units and awards (Note 9)

 

6,230,165

2020 Equity Plan pool reserved for future issuance (Note 9)

 

11,189,745

Convertible senior notes, due 2026(1)

16,998,130

Contingently issuable shares in connection with acquisitions(2)

10,631,558

Total shares of common stock outstanding and reserved for future issuance

 

149,164,054

(1)In connection with the September 16, 2021 issuance of the 2026 Notes, the Company used a portion of the proceeds to pay for the capped call transactions, which are expected to generally reduce the potential dilution to the Company’s common stock. The capped call transactions impact the number of shares that may be issued by effectively increasing the conversion price for the Company from $25.00 per share to approximately $37.74 per share, which would result in 11,261,261 potentially dilutive shares instead of the shares reported in this table.
(2)In connection with the acquisitions of Floify and HOA described in Note 12, the Company provided an obligation to issue certain amount of common stock to the extent specified market conditions are met in the future. Contingently issuable shares are calculated in accordance with the purchase agreement, assuming they would be issuable if the end of the reporting periods were the end of the contingency period.

Schedule of Stockholders' Equity Note, Warrants or Rights

Number of 

Number of 

 

Common

Warrants

 

Shares Issued

Balances as of January 1, 2021

    

    

14,325,000

Cash exercised

 

 

(12,352,830)

11,521,412

Canceled

(176,470)

Balances as of December 31, 2021

 

 

1,795,700

11,521,412

Exercised

 

 

Canceled

Balances as of December 31, 2022

 

 

1,795,700

11,521,412