Stockholders' Equity (Deficit)

3 Months Ended

Mar. 31, 2023

10. Stockholders’ equity (deficit)

Equity Incentive Plans – Stock Options

During the three months ended March 31, 2023, we granted an aggregate of 661,378 shares of stock options, with a weighted average exercise price of $10.42 per share. The fair value of options granted was estimated at the date of grant using the Black-Scholes option-pricing model with the following assumptions (i) expected term of 6.1 years, (ii) expected volatility of 67%, (iii) risk-free interest rate 4.2% and (iv) expected dividend yield of 0%.

Restricted Stock Units

During the three months ended March 31, 2023, we granted an aggregate of 1,522,237 RSUs with a weighted grant-date fair value of $10.42. The RSUs vest over the requisite service period of 4 years from the date of grant, subject to the continued employment of the employees.

10. Stockholders’ equity (deficit) (continued)

Stock Based Compensation Expense

Stock-based compensation expense was included in the following line items in the accompanying condensed consolidated statements of operations during the periods presented:


	Three months ended March 31,
(in thousands)	2023		2022
Cost of revenue	$	1,176	$	862
Sales and marketing		2,808		2,912
Research and development		3,461		2,526
General and administrative		3,042		2,662
Total stock-based compensation expense	$	10,487	$	8,962