Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation (Tables)

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Stock-Based Compensation (Tables)
 6 Months Ended
Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]  
Summary of Stock Option Activities
Following is a summary of stock option activities for the six months ended June 30, 2024:
Options Weighted
Average
Exercise Price
Weighted
Average
Grant Date
Fair Value
Weighted
Average
Remaining
Life
(years)
Intrinsic
Value
Outstanding – January 1, 2024 7,217,074  $ 0.19  $ 0.21  3.5
Exercised (631,463) 0.18  0.20 
Forfeited —  —  — 
Outstanding – June 30, 2024
 6,585,611  $ 0.19  $ 0.21  3.0 $ 21,675 
Exercisable as of June 30, 2024
 6,585,611  $ 0.19  $ 0.21  3.0 $ 21,675 
Summary of Restricted Stock Activity

Restricted Stock Units
Weighted Average Grant Date
Fair Value
Non-vested – January 1, 2024 5,259,982  $ 4.99 
Granted (1)
 7,279,261  3.76 
Vested
 (1,586,632) 4.91 
Forfeited
 (557,776) 3.59 
Non-vested – June 30, 2024
 10,394,835  $ 4.22 
(1) 5,057,140 are PSUs that will vest subject to the achievement of certain financial performance metrics by the Company as discussed above.
Summary of Stock-based Compensation Expense
Stock-based compensation expense for stock options and restricted stock units in the unaudited interim condensed consolidated statements of operations is summarized as follows:
Three Months Ended June 30,
Six Months Ended June 30,
2024 2023 2024 2023
Software development
$ 101  $ 293  $ 81  $ 461 
General and administrative (1)
 5,120  2,376  9,317  5,012 
Selling and marketing
 325  128 691  206
Total stock-based compensation expense (2)
 $ 5,546  $ 2,797  $ 10,089  $ 5,679 
(1) For the six months ended June 30, 2023, the Company included a credit of $339 in connection with the settlement of the equity-based portion of contingent consideration related to the acquisition of Trinity Air Medical, Inc. (“Trinity”) that was paid in the first quarter of 2023 in respect of 2022 results.
(2) Total stock-based compensation expenses for the three and six months ended June 30, 2024 include ($101) and $124 accrued expenses, respectively