Stock-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2024

Share-Based Payment Arrangement [Abstract]

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

RSU activity for the three months ended March 31, 2024 was as follows:


	Shares	Weighted-average grant date fair value per share
Unvested balance as of December 31, 2023	5,256,833	$	5.63
Granted	455,028	$	10.71
Vested	(889,687)	$	7.76
Forfeited	(133,826)	$	5.45
Unvested balance as of March 31, 2024	4,688,348	$	5.72

Summary of Stock Option Activity

A summary of equity award activity under the Company’s equity plans and related information is as follows (in thousands, except share, price and year data):


	Shares available for grant	Outstanding stock options	Weighted- average exercise Price		Weighted- average remaining contractual life (years)	Aggregate intrinsic value
Balance as of December 31, 2023	7,400,180	9,307,142	$	6.41	5.57	$	31,250
Shares authorized	1,957,530
Options granted	—	—	—
Options exercised	—	(1,429,482)	3.00
Options canceled	97,472	(97,472)	13.88
RSU awards granted, net of forfeitures	(321,202)	—

Balance as of March 31, 2024	9,133,980	7,780,188	$	6.94	5.70	$	40,146
Vested and exercisable as of March 31, 2024		6,597,145	$	5.86	5.42	$	37,793

Share-based Payment Arrangement, Expensed and Capitalized, Amount

Stock-based compensation expense included in the condensed consolidated statements of operations was as follows (in thousands):


	Three Months Ended March 31,
	2024		2023
Cost of revenue	$	386	$	416
Research and development	2,108		2,133
Sales and marketing	1,822		2,152
General and administrative	1,213		1,127
Total stock-based compensation expense	$	5,529	$	5,828