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Stock-Based Compensation | 6 Months Ended
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Jun. 30, 2024
Share-Based Payment Arrangement [Abstract] |
Stock-Based Compensation | 11. Stock-Based Compensation Stock Options The following summarizes the stock option activity for the six months ended June 30, 2024:
| Number of options outstanding |  | Weighted- average exercise price (Per share) |  | Weighted- average remaining contract life (In years) |  | Aggregate intrinsic value (In thousands)
Outstanding as of December 31, 2023 | 97,480 |  |  | $ | 12.75 |  |  | 2.97 |  | $ | 332 |
Granted | — |  |  | — |  |  |  |  |
Exercised | (12,474) |  |  | 9.50 |  |  |  |  |
Forfeited or expired | — |  |  | — |  |  |  |  |
Outstanding as of June 30, 2024 | 85,006 |  |  | $ | 13.23 |  |  | 2.61 |  | $ | 403 |
Options vested and exercisable at June 30, 2024 | 85,006 |  |  | $ | 13.23 |  |  | 2.61 |  | $ | 403 |
Options vested and expected to vest as of June 30, 2024 | 85,006 |  |  | $ | 13.23 |  |  | 2.61 |  | $ | 403 |
As of June 30, 2024, the Company had no unrecognized compensation cost related to non-vested stock options. All outstanding stock options were fully vested prior to December 31, 2022. Restricted Stock Units The following summarizes the restricted stock unit (“RSU”) activity for the six months ended June 30, 2024:
| Number of awards outstanding |  | Weighted-average grant date fair value (Per share)
Nonvested RSUs as of December 31, 2023 | 5,066,159 |  |  | $ | 18.41 |
Granted | 668,891 |  |  | 20.70 |
Vested | (1,171,450) |  |  | 26.37 |
Forfeited | (206,720) |  |  | 16.79 |
Nonvested RSUs as of June 30, 2024 | 4,356,880 |  |  | $ | 16.69 |
As of June 30, 2024, total unrecognized compensation cost related to non-vested RSUs was $60.2 million, which will be amortized over a weighted-average period of 1.93 years. Stock-Based Compensation Expense The Company recognized total stock-based compensation expense as follows:
| Three months ended June 30, |  | Six months ended June 30,
| 2024 |  | 2023 |  | 2024 |  | 2023 |  |
| (In thousands)
Cost of revenue | $ | 375 |  |  | $ | 204 |  |  | $ | 771 |  |  | $ | 396 |  |  |
Research and development | 4,684 |  |  | 3,315 |  |  | 10,000 |  |  | 6,456 |  |  |
Sales and marketing | 2,105 |  |  | 1,428 |  |  | 4,270 |  |  | 2,665 |  |  |
General and administrative | 4,196 |  |  | 3,058 |  |  | 8,658 |  |  | 5,866 |  |  |
Total | $ | 11,360 |  |  | $ | 8,005 |  |  | $ | 23,699 |  |  | $ | 15,383 |  |  |

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