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Stock-Based Compensation (Tables)

9 Months Ended

Sep. 30, 2024

Share-Based Payment Arrangement [Abstract]

Summary of Stock-based Compensation

Stock-based compensation recorded in the condensed consolidated statements of operations was as follows:

			Three Months Ended September 30,												Nine Months Ended September 30,
			2024						2023						2024						2023
Platform operations			$	553					$	1,171					$	1,513					$	3,187
Sales and marketing			1,180						2,588						3,074						7,620
Technology and development			693						1,529						1,844						4,363
General and administrative			2,903						3,446						8,875						9,565
Total			$	5,329					$	8,734					$	15,306					$	24,735

Summary of RSU Activity

The following summarizes RSU activity:

			Number of Shares (in thousands)						Weighted-Average Grant Date Fair Value
RSUs outstanding as of December 31, 2023			3,647						$	6.03
Granted			2,312						9.24
Vested			(1,138)						5.88
Canceled/forfeited			(137)						9.22
RSUs outstanding as of March 31, 2024			4,684						7.56
Granted			203						9.42
Vested			(419)						8.42
Canceled/forfeited			(50)						7.46
RSUs outstanding as of June 30, 2024			4,418						7.56
Granted			32						10.38
Vested			(337)						9.42
Canceled/forfeited			(41)						8.25
RSUs outstanding as of September 30, 2024			4,072						$	7.43

Summary of Nonqualified Stock Option Activity

The following summarizes nonqualified stock option activity:

			Number of Options (in thousands)						Weighted-Average Exercise Price						Weighted-Average Remaining Contractual Term (years)						Aggregate Intrinsic Value (in thousands)
Outstanding as of December 31, 2023			5,736						$	5.41					8.6						$	8,807
Granted			516						9.92
Exercised			(17)						6.04
Canceled			(97)						5.62
Expired			(3)						13.70
Outstanding as of March 31, 2024			6,135						5.78						8.3						30,031
Granted			—						—
Exercised			(278)						5.41
Canceled			(13)						5.46
Expired			(4)						11.95
Outstanding as of June 30, 2024			5,840						5.79						8.1						23,942
Granted			—						—
Exercised			(59)						4.98
Canceled			—						—
Expired			—						—
Outstanding as of September 30, 2024			5,781						5.80						7.9						$	30,529
Vested and exercisable			3,476						5.47						7.8						$	19,516

Summary of Assumptions used in Black-Scholes Model to Determine Fair Value of Nonqualified Stock Options Granted

The assumptions used in the Black-Scholes model to determine the fair value of nonqualified stock options were as follows:

			Three and Nine Months Ended September 30,
			2024						2023
Risk-free interest rate			4.1%						3.8% - 4.3%
Expected volatility			74.4%						75.8% - 81.5%
Expected term (in years)			5.8						6.0 - 6.1
Expected dividend yield			0.0%						0.0%

Class of Treasury Stock

Shares of Class A common stock and Class B units repurchased by the Company under the stock repurchase program were as follows (in thousands):

			Three Months Ended September 30, 2024												Nine Months Ended September 30, 2024
			Shares(1)						Amount(2)						Shares(1)						Amount(2)
Class A common stock repurchases			564						$	6,119					1,137						$	11,599
Class B unit repurchases			—						—						—						—
Total repurchases			564						$	6,119					1,137						$	11,599

(1)Shares repurchased include unsettled repurchases as of September 30, 2024.

(2)Amount includes costs associated with the repurchase such as commissions and excise taxes.

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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.

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Tabular disclosure of the number and weighted-average grant date fair value for restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock units that were granted, vested, or forfeited during the year.

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