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STOCK INCENTIVE PLANS (Tables) | 12 Months Ended
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Dec. 31, 2024
Share-Based Payment Arrangement [Abstract] |
Schedule of RSU Rollforward | During the year ended December 31, 2024, RSU activity was as follows:
| Class A Common Stock |  | LT50 Common Stock |  | Weighted average grant date fair value per share
Outstanding at December 31, 2023 | 2,742,273 |  |  | 2,646,332 |  |  | $ | 32.59 |
RSUs granted | 790,580 |  |  | — |  |  | $ | 2.82 |
RSUs vested | (1,036,347) |  |  | (405,457) |  |  | $ | 20.15 |
RSUs cancelled/forfeited/expired | (346,405) |  |  | (346,405) |  |  | $ | 38.38 |
Outstanding at December 31, 2024 | 2,150,101 |  |  | 1,894,470 |  |  | $ | 30.21 |
Schedule of Stock Option Roll-forward | A summary of the Company's stock option activity was as follows:
| Shares |  | Weighted average exercise price per share |  | Weighted average remaining contractual life (in years)
Outstanding at December 31, 2023 | 5,902,591 |  |  | $ | 1.68 |  |  | 4.03
Options exercised | (2,014,063) |  |  | $ | 0.38 |  |  |
Options cancelled/forfeited/expired | (128,948) |  |  | $ | 3.12 |  |  |
Outstanding at December 31, 2024 | 3,759,580 |  |  | $ | 2.29 |  |  | 4.11
Exercisable at December 31, 2024 | 3,744,480 |  |  | $ | 2.28 |  |  | 4.11
Schedule of Stock-based Compensation Expense | The following table summarizes the stock-based compensation expense recognized for awards granted under the Company's authorized stock incentive plans (in thousands):
| Year ended December 31, |
| 2024 |  | 2023 |  | 2022 |
Matching Plan shares | $ | 4,835 |  |  | $ | 5,260 |  |  | $ | 67 |  |
Restricted stock units | 28,426 |  |  | 35,669 |  |  | 50,134 |  |
Stock options | 2,964 |  |  | 3,409 |  |  | 3,888 |  |
Total stock-based compensation | 36,225 |  |  | 44,338 |  |  | 54,089 |  |
Less: stock-based compensation capitalized as software development costs | (2,688) |  |  | (3,126) |  |  | (1,757) |  |
Total stock-based compensation expense | $ | 33,537 |  |  | $ | 41,212 |  |  | $ | 52,332 |  |
Stock-based compensation expense is allocated based on the cost center to which the award holder spent time during the reported periods. Stock-based compensation is included in the following components of expenses on the accompanying Consolidated Statements of Operations (in thousands):
| Year ended December 31,
| 2024 |  | 2023 |  | 2022
Cost of revenue, net | $ | 12,506 |  |  | $ | 13,868 |  |  | $ | 18,403 |
Research and development | 11,900 |  |  | 10,870 |  |  | 7,875 |
General and administrative | 6,815 |  |  | 9,842 |  |  | 17,850 |
Sales and marketing | 2,316 |  |  | 6,632 |  |  | 8,204 |
Total stock-based compensation expense | $ | 33,537 |  |  | $ | 41,212 |  |  | $ | 52,332 |

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