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Stock-Based Compensation (Tables) | 9 Months Ended
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Sep. 30, 2024
Share-Based Payment Arrangement [Abstract] |
Schedule of Stock-based Compensation Expense | The following table shows stock-based compensation expense by where the stock-based compensation expense is recorded in the Company’s unaudited condensed consolidated statement of operations:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
Cost of revenue | $ | 71 |  |  | $ | 33 |  |  | $ | 169 |  |  | $ | 82 |
Sales and marketing | 1,228 |  |  | 822 |  |  | 3,207 |  |  | 2,190 |
Research and development | 1,707 |  |  | 579 |  |  | 3,714 |  |  | 1,464 |
General and administrative | 4,569 |  |  | 2,769 |  |  | 12,766 |  |  | 7,028 |
Total stock-based compensation | $ | 7,575 |  |  | $ | 4,203 |  |  | $ | 19,856 |  |  | $ | 10,764 |
Schedule of Weighted-Average Assumptions to Determine Fair Value | The weighted-average assumptions utilized to determine the fair value of options granted to employees are presented in the following table:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
Expected volatility | N/A |  | 62.6 | % |  | 61.8 | % |  | 63.2 | %
Weighted-average risk-free interest rate | N/A |  | 4.03 | % |  | 4.28 | % |  | 3.71 | %
Expected dividend yield | N/A |  | — |  |  | — |  |  | — |
Expected life – in years | N/A |  | 6 |  | 6 |  | 6
Schedule of Option Activity | A summary of the Company’s option activity as of September 30, 2024, and changes during the nine months then ended are as follows:
| Number of Options |  | Weighted-Average Exercise Price (per share) |  | Weighted-Average Remaining Contractual Term (in years)
Outstanding at January 1, 2024 | 7,175,494 |  |  | $ | 7.02 |  |  | 7.78
Granted | 15,888 |  |  | 12.62 |  |  |
Exercised | (1,464,641) |  |  | 2.53 |  |  |
Forfeited | (355,225) |  |  | 8.94 |  |  |
Outstanding at September 30, 2024 | 5,371,516 |  |  | 8.14 |  |  | 7.34
Options exercisable at September 30, 2024 | 3,220,402 |  |  | 6.76 |  | 6.71
Schedule of Restricted Stock Unit Activity | A summary of RSU activity for the nine months ended September 30, 2024 is as follows:
|  | Number of Shares |  | Weighted-Average Grant Date Fair Value |  | Aggregate Fair Value
Unvested balance at January 1, 2024 |  | 2,571,318 |  | $ | 9.88 |  |  | $ | 25,405 |
Granted |  | 2,857,598 |  | 12.60 |  | 36,006
Vested |  | (996,837) |  |  | 9.73 |  | 9,699 |
Forfeited |  | (280,756) |  |  | 9.77 |  | 2,743 |
Unvested balance as of September 30, 2024 |  | 4,151,323 |  | $ | 11.79 |  |  | $ | 48,944 |
Schedule of Performance Share Units Activity | A summary of PSU activity for the nine months ended September 30, 2024 is as follows:
|  | Number of Shares |  | Weighted-Average Grant Date Fair Value |  | Aggregate Fair Value
Unvested balance at January 1, 2024 |  | 1,077,726 |  | $ | 11.61 |  |  | $ | 12,512 |
Granted |  | 1,146,491 |  | 12.56 |  | 14,400
Vested |  | — |  |  | — |  | — |
Forfeited |  | — |  |  | — |  | — |
Unvested balance at September 30, 2024 |  | 2,224,217 |  | $ | 12.10 |  |  | $ | 26,913 |

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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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