Quarterly report pursuant to Section 13 or 15(d)

Stockholders' Equity (Tables)

v3.24.2.u1
Stockholders' Equity (Tables)
 6 Months Ended
Jun. 30, 2024
Equity [Abstract]  
Summary of Stock Options Activity The activity for stock options under the Company’s stock plans for the six months ended June 30, 2024 is as follows:

 

 

 

 

 

 

 

 

 

 

 

Remaining

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

weighted-

 

 

 

 

 

 

 

 

 

 

 

 

Weighted-

 

 

average

 

 

Per share

 

 

 

 

 

 

 

 

 

average

 

 

contractual

 

 

average

 

 

 

 

 

 

Price per

 

 

exercise

 

 

terms

 

 

intrinsic

 

 

 

Options

 

 

share

 

 

price

 

 

(in years)

 

 

value

 

Outstanding as of December 31, 2023

 

 

20,000

 

 

$

83.30

 

 

$

83.30

 

 

 

0.36

 

 

$

—

 

Forfeited

 

 

(10,000

)

 

 

83.30

 

 

 

83.30

 

 

 

 

 

 

 

Expired

 

 

(10,000

)

 

 

83.30

 

 

 

83.30

 

 

 

 

 

 

 

Outstanding as of June 30, 2024

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Vested and exercisable as of June 30, 2024

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Vested and expected to vest as of June 30, 2024

 

 

—

 

 

$

—

 

 

$

—

 

 

 

—

 

 

$

—

 
Summary of Restricted Stock Activity

Stock Awards activity for the six months ended June 30, 2024 is summarized below:

 

 

 

 

 

 

 

 

 

 

 

Weighted-

 

 

 

 

 

 

 

 

 

 

 

 

average

 

 

 

 

 

 

 

 

 

 

 

 

grant

 

 

 

 

 

 

Performance

 

 

 

 

 

date fair

 

 

 

 

 

 

and

 

 

 

 

 

value

 

Restricted stock units

 

Time-based

 

 

time-based

 

 

Total

 

 

per share

 

Unvested restricted stock units as of December 31, 2023

 

 

1,146,404

 

 

 

346,688

 

 

 

1,493,092

 

 

$

14.67

 

Granted

 

 

783,041

 

 

 

587,768

 

 

 

1,370,809

 

 

 

7.13

 

Vested

 

 

(364,088

)

 

 

—

 

 

 

(364,088

)

 

 

18.26

 

Forfeited/canceled

 

 

(162,758

)

 

 

(233,569

)

 

 

(396,327

)

 

 

15.25

 

Unvested restricted stock units as of June 30, 2024 (1)

 

 

1,402,599

 

 

 

700,887

 

 

 

2,103,486

 

 

$

9.12

 

Unvested and expected to vest restricted stock units outstanding as of June 30, 2024

 

 

 

 

 

 

 

 

1,624,345

 

 

$

9.19

 

(1) Outstanding restricted stock units are based on the maximum payout of the targeted number of shares.

Summary of Stock-based Compensation Expense

Stock-based compensation expense recognized for the three and six months ended June 30, 2024 and 2023, was as follows:

 

 

 

Three months ended

 

 

Six months ended

 

 

 

June 30,

 

 

June 30,

 

 

 

2024

 

 

2023

 

 

2024

 

 

2023

 

Stock-based compensation expense by type of award:

 

 

 

 

 

 

 

 

 

 

 

 

Restricted stock units and restricted stock awards

 

$

1,696

 

 

$

3,177

 

 

$

4,005

 

 

$

6,482

 

Employee stock purchase plan

 

 

118

 

 

 

86

 

 

 

225

 

 

 

223

 

Total stock-based compensation expense

 

$

1,814

 

 

$

3,263

 

 

$

4,230

 

 

$

6,705

 

For the three and six months ended June 30, 2024 and 2023, respectively, stock-based compensation expense recognized under ASC 718, included in cost of revenue, research and development expense, sales and marketing expense, and general and administrative expense was as follows:

 

 

Three months ended

 

 

Six months ended

 

 

 

June 30,

 

 

June 30,

 

 

 

2024

 

 

2023

 

 

2024

 

 

2023

 

Cost of revenue

 

$

145

 

 

$

153

 

 

$

325

 

 

$

237

 

Research and development

 

 

(75

)

 

 

376

 

 

 

385

 

 

 

834

 

Sales and marketing

 

 

428

 

 

 

658

 

 

 

858

 

 

 

1,432

 

General and administrative

 

 

1,316

 

 

 

2,076

 

 

 

2,662

 

 

 

4,202

 

Total stock-based compensation expense

 

$

1,814

 

 

$

3,263

 

 

$

4,230

 

 

$

6,705