v3.24.2.u1

Stockholders' Equity (Tables)

6 Months Ended

Jun. 30, 2024

Equity [Abstract]

Schedule Of Shares Of Common Stock Reserved For Future Issuance

As of June 30, 2024, there were 2,805,301 shares of common stock outstanding, and the Company had reserved a total of 1,502,497 of its authorized shares of common stock for future issuance as follows:

			Shares Reserved for Future Issuance
Outstanding restricted stock units			88,226
Outstanding performance restricted stock units			77,112
Outstanding stock options			100,058
Reserved for convertible senior notes			1,237,101
Total shares of common stock reserved for future issuance			1,502,497

Schedule Of Stock-based Compensation Expense Included In The Consolidated Statements Of Operations And Comprehensive Loss

The following table presents stock-based compensation expense related to the 2014 Plan and the ESPP, contained on the following line items on the Company’s condensed consolidated statements of operations and comprehensive loss for each of the periods indicated.

			Three Months Ended June 30,												Six Months Ended June 30,
			2024						2023						2024						2023
			(in thousands)
Curriculum and teaching			$	95					$	51					$	135					$	91
Servicing and support			1,118						2,239						2,592						5,516
Technology and content development			393						1,960						1,002						3,617
Marketing and sales			695						1,369						1,208						2,523
General and administrative			2,210						5,364						4,898						13,799
Total stock-based compensation expense			$	4,511					$	10,983					$	9,835					$	25,546

Schedule Of Restricted And Performance Restricted Stock Unit Activity

The following table presents a summary of the Company’s RSU activity, adjusted on a retroactive basis to reflect the Reverse Stock Split, for the period indicated. No RSUs were granted during the six months ended June 30, 2024.

			Number of Units						Weighted- Average Grant Date Fair Value per Share
Outstanding balance as of December 31, 2023			152,911						$	244.00
Granted			—						—
Vested			(41,006)						282.01
Forfeited			(23,679)						210.69
Outstanding balance as of June 30, 2024			88,226						$	235.27

The following table presents a summary of the Company’s PRSU activity, adjusted on a retroactive basis to reflect the Reverse Stock Split, for the period indicated.

			Number of Units						Weighted- Average Grant Date Fair Value per Share
Outstanding balance as of December 31, 2023			27,695						$	403.04
Granted			59,293						13.12
Vested			—						—
Forfeited			(9,876)						11.98
Outstanding balance as of June 30, 2024			77,112						$	153.31

Schedule Of Assumptions Used For Estimating The Fair Value Of The Stock Options Granted

The following tables present a summary of (i) for the six months ended June 30, 2024 and 2023, the assumptions used for estimating the fair values of the TSR-performance component of the PRSUs, and (ii) for the six months ended June 30, 2024, the assumptions used for estimating the fair value of the PRSUs subject to market-based vesting conditions. As of June 30, 2024 and December 31, 2023, there were 14,036 and 40,910 outstanding PRSUs for which the performance metrics had not been defined as of each respective date. Accordingly, such awards are not considered granted for accounting purposes as of June 30, 2024 and December 31, 2023, and have been excluded from the tables below. No PRSUs were granted during each of the three months ended June 30, 2024 and 2023.

			Six Months Ended June 30,
			2024						2023
Risk-free interest rate			5.11%						4.68%
Expected term (years)			1.00						1.00
Expected volatility			162%						108%
Dividend yield			0%						0%

			Six Months Ended June 30, 2024
Risk-free interest rate			4.33%
Expected term (years)			1.30
Expected volatility			126%
Dividend yield			0%

The following table summarizes the assumptions used for estimating the fair value of the stock options granted for the period presented. No stock options were granted during the six months ended June 30, 2024 or the three months ended June 30, 2023.

			Six Months Ended June 30, 2023
Risk-free interest rate			3.6%
Expected term (years)			5.69
Expected volatility			87%
Dividend yield			0%
Weighted-average grant date fair value per share			$147.90

Schedule Of Stock Option Activity

The following table presents a summary of the Company’s stock option activity, adjusted on a retroactive basis to reflect the Reverse Stock Split, for the period indicated.

			Number of Options						Weighted-Average Exercise Price per Share						Weighted-Average Remaining Contractual Term (in years)						Aggregate Intrinsic Value (in thousands)
Outstanding balance as of December 31, 2023			135,176						$	838.34					4.63						$	—
Granted			—						—						0.00
Exercised			—						—						0.00
Forfeited			(4,787)						305.40
Expired			(30,331)						592.77
Outstanding balance as of June 30, 2024			100,058						938.27						4.62						—
Exercisable as of June 30, 2024			85,523						$	1,025.12					4.16						$	—

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