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Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2024

Share-Based Payment Arrangement [Abstract]

Schedule of Stock-based Compensation Expense

Information related to stock-based compensation expense is as follows (in thousands):

		Year Ended December 31,
		2024				2023				2022
Stock-based compensation expense		$	30,553			$	28,491			$	22,342
Income tax benefit related to stock-based    compensation expense			5,138				4,505				—

Summary of Stock-based Compensation Expense by Financial Statement

Stock-based compensation expense by financial statement line item on the Company’s Consolidated Statements of Income is as follows (in thousands):

		Year Ended December 31,
		2024				2023				2022
Cost of revenue and operations		$	871			$	1,487			$	955
Product and technology			10,684				8,814				6,647
Marketing and sales			5,381				5,740				4,921
General and administrative			13,617				12,450				9,819
Total		$	30,553			$	28,491			$	22,342

Schedule of Outstanding Stock-based Compensation Awards

Information related to outstanding stock-based compensation awards as of December 31, 2024 for restricted share units ("RSUs"), performance share units ("PSUs"), stock options and the Cars Commerce Employee Stock Purchase Plan ("ESPP") is as follows (in thousands, except for weighted-average remaining period):

		Unearned Compensation				Weighted-Average Remaining Period (in years)
RSUs		$	33,397				1.8
PSUs			6,939				2.3
Stock Options			137				0.2
ESPP			327				0.4
Total		$	40,800

Summary of RSU Activity

RSU activity for the year ended December 31, 2024 is as follows (in thousands, except for weighted-average grant date fair value):

		Number of RSUs				Weighted-Average Grant Date Fair Value
Outstanding as of December 31, 2023			3,725			$	15.67
Granted			1,971				17.19
Vested and delivered			(1,589	)			15.41
Forfeited			(470	)			16.36
Outstanding as of December 31, 2024 (1)			3,637			$	16.52

(1)Includes 376 RSUs that were vested, but not yet delivered.

Summary of PSU Activity

PSU activity for the year ended December 31, 2024 is as follows (in thousands, except for weighted-average grant date fair value):

		Number of PSUs				Weighted-Average Grant Date Fair Value
Outstanding as of December 31, 2023			512			$	15.66
Granted			419				17.23
Vested and delivered			—				—
Forfeited			—				—
Outstanding as of December 31, 2024			931			$	16.37

Summary of Stock Option Activity

Stock option activity for the year ended December 31, 2024 is as follows (in thousands, except for weighted-average grant date fair value and weighted-average remaining contractual term):

		Number of Options				Weighted-Average Grant Date Fair Value				Weighted-Average Remaining Contractual Term (in years)				Aggregate Intrinsic Value
Outstanding as of December 31, 2023			1,067			$	6.28				6.98			$	9,096
Granted			—				—				—				—
Exercised			—				—				—				—
Forfeited			—				—				—				—
Outstanding as of December 31, 2024			1,067				6.28				5.98				7,346
Exercisable as of December 31, 2024			804				5.27				5.57				6,751

Summary of Fair Value of Stock Options Granted are Estimated Using Black Scholes Option Pricing Model

The fair value of the stock options granted during the year ended December 31, 2022 were estimated on the grant date using the Black-Scholes option pricing model, using the following assumptions:

	2022
Risk-free interest rate		2.21	%
Weighted-average volatility		65.22	%
Dividend yield		0	%
Expected years until exercise		6.5

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