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Shareholders’ Equity (Tables) | 9 Months Ended
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Sep. 30, 2024
Equity [Abstract] |
Schedule of Stock-based Compensation Expense | During the three and nine months ended September 30, 2024 and 2023, the Company recognized stock-based compensation expense as follows (in thousands):
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
Subscriber related | $ | 80 |  |  | $ | 38 |  |  | $ | 238 |  |  | $ | 147 |
Sales and marketing | 4,047 |  |  | 5,915 |  |  | 13,424 |  |  | 18,578 |
Technology and development | 2,679 |  |  | 2,901 |  |  | 9,188 |  |  | 8,923 |
General and administrative | 2,518 |  |  | 3,853 |  |  | 9,759 |  |  | 11,803 |
| $ | 9,324 |  |  | $ | 12,707 |  |  | $ | 32,609 |  |  | $ | 39,451 |
Schedule of of Stock Option Activity | A summary of time-based stock option activity for the nine months ended September 30, 2024 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, 2023 | 10,475,607 |  |  | $ | 6.31 |  |  | $ | 6,534 |  |  | 5.3
Exercised | (4,042) |  |  | $ | 0.87 |  |  |  |  |
Forfeited or expired | (178,585) |  |  | $ | 12.72 |  |  |  |  |
Outstanding as of September 30, 2024 | 10,292,980 |  |  | $ | 6.20 |  |  | $ | 1,254 |  |  | 4.6
Options vested and exercisable as of September 30, 2024 | 9,702,174 |  |  | $ | 6.46 |  |  | $ | 1,254 |  |  | 4.5
A summary of activity under the 2020 Plan for market and service-based stock options for the nine months ended September 30, 2024 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, 2023 | 4,453,297 |  |  | $ | 12.75 |  |  | $ | — |  |  | 3.7
Outstanding as of September 30, 2024 | 4,453,297 |  |  | $ | 12.75 |  |  | $ | — |  |  | 2.9
Options vested and exercisable as of September 30, 2024 | 3,994,964 |  |  | $ | 11.96 |  |  | $ | — |  |  | 2.8
Schedule of Determining the Fair Value of Stock Options Granted | The following assumptions were used in determining the fair value of stock options granted during the nine months ended September 30, 2023:
Dividend yield |  | —
Expected price volatility |  | 49.8%
Risk free interest rate |  | 3.9%
Expected term (years) |  | 6.0 years
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, 2024 is as follows:
| Number of Shares |  | Weighted Average Grant-Date Fair Value
Unvested at December 31, 2023 | 20,313,775 |  |  | $ | 3.85 |
Granted | 2,977,651 |  |  | $ | 1.50 |
Vested | (1,654,577) |  |  | $ | 4.17 |
Forfeited or expired | (2,145,370) |  |  | $ | 4.75 |
Unvested at September 30, 2024 | 19,491,479 |  |  | $ | 3.36 |
A summary of the Company’s performance-based restricted stock unit activity during the nine months ended September 30, 2024 is as follows:
| Number of Shares |  | Weighted Average Grant-Date Fair Value
Unvested at December 31, 2023 | 2,035,834 |  |  | $ | 20.23 |
Granted | 947,035 |  |  | $ | 1.55 |
Forfeited | (189,825) |  |  | $ | 3.26 |
Unvested at September 30, 2024 | 2,793,044 |  |  | $ | 15.05 |
Schedule of Outstanding Warrants | A summary of the Company’s outstanding warrants as of September 30, 2024, are presented below (in thousands, except number of shares and exercise price):
| Number of Shares |  | Weighted Average Exercise Price |  | Total Intrinsic Value |  | Weighted Average Remaining Contractual Life (Years) |
Outstanding as of December 31, 2023 | 166,670 |  |  | $ | 17.40 |  |  | $ | — |  |  | 8.6 |
Outstanding as of September 30, 2024 | 166,670 |  |  | $ | 17.40 |  |  | $ | — |  |  | 7.8 |

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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 -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
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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 -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + 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 -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -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
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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 -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
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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 -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
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