XML 52 R39.htm IDEA: XBRL DOCUMENT
v3.24.0.1

Shareholders’ Equity (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2023
Equity [Abstract] |
Schedule of Stockholders' Equity Note, Warrants or Rights | A summary of the Company’s outstanding warrants as of December 31, 2023, are presented below (in thousands, except share and per share amounts):
| Number of Warrants |  | Weighted Average Exercise Price |  | Total Intrinsic Value |  | Weighted Average Remaining Contractual Life (in years)
Outstanding as of December 31, 2022 | 166,670 |  |  | $ | 17.40 |  |  | $ | — |  |  | 9.6
Outstanding as of December 31, 2023 | 166,670 |  |  | $ | 17.40 |  |  | $ | — |  |  | 8.6
Share-based Payment Arrangement, Expensed and Capitalized, Amount | During the years ended December 31, 2023, 2022 and 2021 the Company recognized stock-based compensation expense as follows (in thousands):
| Years Ended December 31,
| 2023 |  | 2022 |  | 2021
Subscriber related | $ | 211 |  |  | $ | 144 |  |  | $ | 71 |
Sales and marketing | 22,886 |  |  | 22,198 |  |  | 7,818 |
Technology and development | 12,024 |  |  | 9,998 |  |  | 13,752 |
General and administrative | 16,094 |  |  | 20,114 |  |  | 31,509 |
| $ | 51,215 |  |  | $ | 52,454 |  |  | $ | 53,150 |
Share-based Payment Arrangement, Activity | A summary of stock option activity for the year ended December 31, 2023, 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 (in years)
Outstanding as of December 31, 2022 | 10,243,772 |  |  | $ | 6.43 |  |  | $ | 1,956 |  |  | 6.0
Granted | 636,298 |  |  | $ | 2.02 |  |  |  |  |
Exercised | (339,842) |  |  | $ | 1.10 |  |  |  |  |
Forfeited or expired | (64,621) |  |  | $ | 10.67 |  |  |  |  |
Outstanding as of December 31, 2023 | 10,475,607 |  |  | $ | 6.31 |  |  | $ | 6,534 |  |  | 5.3
Options vested and exercisable as of December 31, 2023 | 9,172,874 |  |  | $ | 6.48 |  |  | $ | 5,796 |  |  | 5.4
A summary of activity under the Plan for market and service-based stock options for the year ended December 31, 2023 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 (in years)
Outstanding as of December 31, 2022 | 4,453,297 |  |  | $ | 12.75 |  |  | $ | — |  |  | 4.7
Outstanding as of December 31, 2023 | 4,453,297 |  |  | $ | 12.75 |  |  | $ | — |  |  | 3.7
Options vested and exercisable as of December 31, 2023 | 3,994,964 |  |  | $ | 11.96 |  |  | $ | — |  |  | 3.6
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions | The Company estimated the fair value of the warrants granted during the year ended December 31, 2022 using the Monte Carlo valuation model as follows:
Dividend yield |  | —
Expected price volatility |  | 107.0%
Risk free interest rate |  | 2.8%
Expected term (years) |  | 10.0
The following was used in determining the fair value of stock options granted during the year ended December 31, 2023:
Dividend yield |  | — | %
Expected price volatility |  | 49.8 | %
Risk free interest rate |  | 3.9 | %
Expected term (years) |  | 6.0
Schedule of Nonvested Restricted Stock Units Activity | A summary of the Company’s time-based restricted stock unit activity during the year ended December 31, 2023 is as follows:
| Number of Shares |  | Weighted Average Grant-Date Fair Value
Unvested at December 31, 2022 | 13,055,629 |  |  | $ | 5.25 |
Granted | 13,912,089 |  |  | $ | 2.99 |
Vested | (3,397,642) |  |  | $ | 5.82 |
Forfeited | (3,256,301) |  |  | $ | 3.72 |
Unvested at December 31, 2023 | 20,313,775 |  |  | $ | 3.85 |
A summary of the Company’s performance-based restricted stock unit activity during the year ended December 31, 2023 is as follows:
| Number of Shares |  | Weighted Average Grant-Date Fair Value
Unvested at December 31, 2022 | 1,520,000 |  |  | $ | 33.87 |
Granted | 895,834 |  |  | $ | 2.87 |
Vested | (286,667) |  |  | $ | 33.87 |
Forfeited | (93,333) |  |  | $ | 33.87 |
Unvested at December 31, 2023 | 2,035,834 |  |  | $ | 20.23 |

X
- References No definition available. + Details
Name: | us-gaap_EquityAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
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 of the changes in outstanding nonvested restricted stock units. + 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)(2) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_ScheduleOfNonvestedRestrictedStockUnitsActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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 -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(2) -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_ScheduleOfShareBasedCompensationActivityTableTextBlock
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

X
- 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 -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-1 + Details
Name: | us-gaap_ScheduleOfStockholdersEquityNoteWarrantsOrRightsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration