XML 41 R30.htm IDEA: XBRL DOCUMENT v3.25.1
Stock-Based Compensation (Tables)
 3 Months Ended
Mar. 31, 2025
Share-Based Payment Arrangement [Abstract]  
Schedule of Stock-Based Compensation Costs
The following table shows the stock-based compensation cost by award type for the periods indicated:
Three Months Ended March 31,
20252024
(in thousands)
Equity classified awards
Restricted stock units$10,788 $9,798 
Stock options— 437 
Class B common stock 263 1,238 
Liability-classified awards2 7 
Total stock-based compensation$11,053 $11,480 
The following table sets forth the total stock-based compensation cost included in the Company’s condensed consolidated statements of operations and comprehensive income or capitalized to assets for the periods indicated:
Three Months Ended March 31,
20252024
(in thousands)
Cost of revenue
Platform$267 $237 
Products6 186 
Total cost of revenue273 423 
Research and development3,437 3,713 
Sales and marketing3,114 2,936 
General and administrative3,626 3,685 
Total stock-based compensation expense$10,450 $10,757 
Capitalized for software development costs423 330 
Capitalized to inventories180 393 
Total stock-based compensation$11,053 $11,480 
Schedule of Restricted Stock Unit Activity
A summary of the Company’s service-based RSU activity under the 2021 Equity Incentive Plan is as follows:
Number of
RSUs
Weighted-
Average
Grant Date
Fair Value
(per share)
Outstanding at December 31, 202411,251,503 $9.86 
Granted4,127,500 $5.24 
Dividend equivalent grants194,658 — 
Vested(1,059,881)$10.82 
Forfeited / cancelled(142,507)$11.89 
Outstanding at March 31, 202514,371,273 $8.45 
A summary of the Company’s PRSU activity under the 2021 Equity Incentive Plan is as follows:
Number of
PRSUs (a)
Weighted-
Average
Grant Date
Fair Value
(per share)
Outstanding at December 31, 202417,485,433 $13.12 
Dividend equivalent grants302,525 $— 
Forfeited / cancelled(133,849)$14.98 
Outstanding at March 31, 202517,654,109 $13.10 
a.Represents the maximum number of PRSUs assuming all performance targets are achieved.
Schedule of Stock Option Activity
A summary of the Company’s stock option activity under the 2021 Equity Incentive Plan is as follows:
Number of
Options
Weighted-
Average
Exercise Price
Weighted-
Average
Remaining
Term
(Years)
Aggregate
Intrinsic
Value
(in thousands)
Outstanding at December 31, 20242,750,078 $18.25 2.2$— 
Forfeited / cancelled(7,594)$18.25 
Outstanding and expected to vest at March 31, 2025
2,742,484 $18.25 1.9$— 
Vested and exercisable at March 31, 20252,742,484 $18.25 1.9$— 
The Company’s options to purchase Class B common stock resulted from the corporate reorganization in March 2021 and are not part of the 2021 Equity Incentive Plan. A summary of the Company stock option activity for the options to purchase shares of Class B common stock is as follows:
Number of
Options
Weighted-
Average
Exercise Price
Weighted-
Average
Remaining
Term
(Years)
Aggregate
Intrinsic
Value
(in thousands)
Outstanding at December 31, 2024197,425 $7.29 0.9$— 
Forfeited / cancelled(8,000)$7.29 
Outstanding at March 31, 2025189,425 $7.29 0.7$— 
Vested and exercisable at March 31, 2025189,425 $7.29 0.7$— 
Schedule of Nonvested Share Activity
The Company’s unvested Class B common stock resulted from the corporate reorganization in March 2021 and is not part of the 2021 Equity Incentive Plan. Dividends declared on unvested Class B common stock are subject to vesting and forfeited if the underlying stock does not vest. Activity related to Class B common stock subject to future vesting for the three months ended March 31, 2025 is as follows:
Number of
Unvested Shares
Weighted-
Average
Grant Date Fair Value (per share)
Outstanding at December 31, 2024113,578 $20.00 
Vested(97,170)$20.00 
Outstanding at March 31, 202516,408 $20.00