Stockholders' Equity (Deficit)

6 Months Ended

Jun. 30, 2023

10. Stockholders’ equity (deficit)

Equity Incentive Plans – Stock Options

During the six months ended June 30, 2023, we granted an aggregate of 729,323 shares of stock options, with a weighted average exercise price of $10.25 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 4.1% and (iv) expected dividend yield of 0%.

Restricted Stock Units

During the six months ended June 30, 2023, we granted an aggregate of 2,097,294 RSUs with a weighted grant-date fair value of $9.68. 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 June 30,		Six months ended June 30,
(in thousands)	2023	2022	2023	2022
Cost of revenue	$1,281	$978	$2,457	$1,840
Sales and marketing	3,529	3,523	6,337	6,434
Research and development	3,929	3,029	7,390	5,555
General and administrative	2,551	3,048	5,593	5,711
Total stock-based compensation expense	$11,290	$10,578	$21,777	$19,540