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Employee benefit plans (Tables)

6 Months Ended

Jun. 30, 2024

Share-Based Payment Arrangement [Abstract]

schedule of share-based compensation, Performance Stock Units Award Activity [Table Text Block]

A summary of the Company’s PSU activity for the six months ended June 30, 2024 is as follows:

			Shares (in thousands)						Weighted-average grant date fair value
Non-vested shares at December 31, 2023			829						$	6.40
Granted			1,531						1.70
Vested			(375)						6.52
Forfeited			(12)						5.79
Non-vested shares at June 30, 2024			1,973						$	2.73

Schedule of Share-based Compensation, Stock Options, Activity

A summary of the Company’s stock option activity for the six months ended June 30, 2024 is as follows:

			Shares (in thousands)						Weighted-average exercise price						Weighted-average remaining contractual term (in years)						Aggregate intrinsic value (in thousands)
Outstanding at December 31, 2023			2,684						$	8.43					5.08						$	—
Granted			—						—
Exercised			—						—
Forfeited/Cancelled			(183)						17.05
Outstanding at June 30, 2024			2,501						$	7.80					4.75						$	—
Vested and expected to vest at June 30, 2024			2,501						$	7.80					4.75						$	—
Exercisable at June 30, 2024			2,158						$	8.14					4.15						$	—

Schedule of Share-based Compensation, Restricted Stock Units Award Activity

A summary of the Company’s RSU activity for the six months ended June 30, 2024 is as follows:

			Shares (in thousands)						Weighted-average grant date fair value
Non-vested shares at December 31, 2023			11,494						$	5.94
Granted			5,964						1.99
Vested			(2,719)						6.41
Forfeited			(822)						5.25
Non-vested shares at June 30, 2024			13,917						$	4.20

Allocation of Stock-based Compensation Expense

The Company measures compensation expense for all stock-based payment awards based on the estimated fair values on the date of the grant. The fair value of stock options granted and ESPP issuances is estimated using the Black-Scholes option pricing model. The fair value of RSUs and PSUs are determined using the Company’s closing stock price on the date of grant. There have been no significant changes in the Company’s valuation assumptions from those disclosed in its 2023 Annual Report.

The following table summarizes stock-based compensation expense included in the Condensed Consolidated Statements of Operations:

			Three months ended June 30,												Six months ended June 30,
(in thousands)			2024						2023						2024						2023
Cost of revenue			$	339					$	530					$	754					$	996
Research and development			4,016						4,922						8,281						9,668
Sales and marketing			1,545						2,359						3,289						4,537
General and administrative			1,891						3,306						4,237						6,230
Total stock-based compensation expense			$	7,791					$	11,117					$	16,561					$	21,431

Class of Treasury Stock

			Three months ended June 30,												Six months ended June 30,
(in thousands, except per share data)			2024						2023						2024						2023
Shares repurchased			—						3,606						—						4,496
Average price per share			$	—					$	4.16					$	—					$	4.45
Value of shares repurchased			$	—					$	15,000					$	—					$	20,000

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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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