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Stock-Based Compensation (Tables)

9 Months Ended

Sep. 30, 2024

Share-Based Payment Arrangement [Abstract]

Share-Based Payment Arrangement, Expensed and Capitalized, Amount

The Company’s stock-based compensation expense is recorded as follows (in thousands):

			Three months ended September 30,												Nine months ended September 30,
			2024						2023						2024						2023
Cost of revenue			$	476					$	151					$	999					$	504
Sales and marketing(1)			4,347						9,627						34,777						10,749
Research and development			2,447						523						7,036						1,560
General and administrative			6,405						474						20,525						1,546
Total stock-based compensation expense			$	13,675					$	10,775					$	63,337					$	14,359

_______________

(1)Sales and marketing includes common stock warrant expense of $2.2 million and $27.1 million recognized during the three and nine months ended September 30, 2024, respectively, and $9.1 million recognized during the three and nine months ended September 30, 2023. See Note 7 – Redeemable Convertible Preferred Stock and Stockholders’ Equity.

Disclosure of Share-Based Compensation Arrangements by Share-Based Payment Award

A summary of option activity for the nine months ended September 30, 2024, is as follows:

			Options						Weighted Average Exercise Price						Weighted Average Remaining Contractual Term (in years)						Aggregate Intrinsic Value (in thousands)
Options outstanding as of December 31, 2023			4,516,612						$	14.34					7.5						$	75,915
Granted			184,148						31.15
Exercised			(678,582)						11.28
Forfeited or expired			(333,426)						16.94
Options outstanding as of September 30, 2024			3,688,752						$	15.51					6.7						$	170,057
Options vested and exercisable as of September 30, 2024			2,513,078						$	14.05					6.1						$	119,523

A summary of RSU activity for the nine months ended September 30, 2024, is as follows:

			RSUs						Weighted Average Grant Date Fair Value per Share
Unvested and outstanding as of December 31, 2023			—						$	—
Granted			1,229,226						61.65
Vested			(9,474)						64.58
Forfeited or expired			(71,425)						71.82
Unvested and outstanding as of September 30, 2024			1,148,327						$	60.99

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- References

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- Definition

Tabular disclosure of share-based payment arrangement.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-SubTopic 10
-Topic 718
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-1

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

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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

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