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Stockholders’ Equity (Tables) | 9 Months Ended
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Sep. 30, 2022
Equity [Abstract] |
Schedule of Stockholders' Equity Note, Warrants or Rights | A summary of the Company’s outstanding warrants as of September 30, 2022, are presented below (in thousands, except share and exercise price):
| Number of Shares |  | Weighted Average Exercise Price |  | Total Intrinsic Value |  | Weighted Average Remaining Contractual Life (in years) |
Outstanding as of December 31, 2021 | 565,544 |  |  | $ | 9.96 |  |  | $ | 3,546 |  |  | 0.1 |
Granted | 166,667 |  |  | $ | 15.00 |  |  |  |  |  |
Exercised | (540,541) |  |  | $ | 9.25 |  |  |  |  | - |
Expired | (25,000) |  |  | $ | 9.25 |  |  |  |  |  |
Outstanding and exercisable as of September 30, 2022 | 166,670 |  |  | $ | 17.40 |  |  | $ | — |  |  | 9.8 |
The Company estimated the fair value of the warrants granted during the three and nine months ended September 30, 2022 using the Monte Carlo valuation model as follows:
Share-based Payment Arrangement, Expensed and Capitalized, Amount | During the three and nine months ended September 30, 2022 and 2021 the Company recognized stock-based compensation expense as follows (in thousands):
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2022 |  | 2021 |  | 2022 |  | 2021
Subscriber related | $ | 15 |  |  | $ | 13 |  |  | $ | 91 |  |  | $ | 43 |
Sales and marketing | 5,432 |  |  | 821 |  |  | 18,565 |  |  | 2,324 |
Technology and development | 2,575 |  |  | 1,535 |  |  | 8,164 |  |  | 12,156 |
General and administrative | 5,614 |  |  | 10,298 |  |  | 20,474 |  |  | 31,949 |
| $ | 13,636 |  |  | $ | 12,667 |  |  | $ | 47,294 |  |  | $ | 46,472 |
Share-based Payment Arrangement, Activity | A summary of stock option activity for the nine months ended September 30, 2022, is as follows (in thousands, except share and per share amounts):
| Number of Shares |  | Weighted Average Exercise Price |  | Total Intrinsic Value |  | Weighted Average Remaining Contractual Life (Years)
Outstanding as of December 31, 2021 | 11,454,890 |  |  | $ | 6.40 |  |  | $ | 70,231 |  |  | 7.4
Exercised | (565,022) |  |  | $ | 1.33 |  |  |  |  |
Forfeited or expired | (507,492) |  |  | $ | 10.95 |  |  |  |  |
Outstanding as of September 30, 2022 | 10,382,376 |  |  | $ | 6.46 |  |  | $ | 7,975 |  |  | 6.2
Options vested and exercisable as of September 30, 2022 | 7,816,011 |  |  | $ | 5.63 |  |  | $ | 7,854 |  |  | 5.8
A summary of activity under the 2020 Plan for market and service-based stock options for the nine months ended September 30, 2022 is as follows (in thousands, except share and per share amounts):
| Number of Shares |  | Weighted Average Exercise Price |  | Total Intrinsic Value |  | Weighted Average Remaining Contractual Life (Years)
Outstanding as of December 31, 2021 | 4,453,297 |  |  | $ | 12.75 |  |  | $ | 17,933 |  |  | 5.7
Outstanding as of September 30, 2022 | 4,453,297 |  |  | $ | 12.75 |  |  | $ | — |  |  | 4.9
Options vested and exercisable as of September 30, 2022 | 3,536,630 |  |  | $ | 10.98 |  |  | $ | — |  |  | 4.7
Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions |
Dividend yield | —
Expected price volatility | 107.0%
Risk free interest rate | 2.8%
Expected term (years) | 10.0
Schedule of Nonvested Restricted Stock Units Activity | A summary of the Company’s time-based restricted stock unit activity during the nine months ended September 30, 2022 is as follows:
| Number of Shares |  | Weighted Average Grant-Date Fair Value
Unvested at December 31, 2021 | 2,785,800 |  |  | $ | 25.73 |
Granted | 3,512,728 |  |  | $ | 5.70 |
Vested | (350,635) |  |  | $ | 26.93 |
Forfeited | (708,810) |  |  | $ | 14.59 |
Unvested at September 30, 2022 | 5,239,083 |  |  | $ | 13.73 |
A summary of the Company’s performance-based restricted stock unit activity during the nine months ended September 30, 2022 is as follows:
| Number of Shares |  | Weighted Average Grant-Date Fair Value
Unvested at December 31, 2021 | 1,900,000 |  |  | $ | 33.87 |
Vested | (280,000) |  |  | $ | 33.87 |
Unvested at September 30, 2022 | 1,620,000 |  |  | $ | 33.87 |

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- 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 -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(1) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure of the changes in outstanding nonvested restricted stock units. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(2) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure of activity for award under share-based payment arrangement. Includes, but is not limited to, outstanding award at beginning and end of year, granted, exercised, forfeited, and weighted-average grant date fair value. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(2) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
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- 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 -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5047-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 50 -Section S99 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=6784392&loc=d3e188667-122775 + Details
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