Quarterly report [Sections 13 or 15(d)]

Stock-Based Compensation (Tables)

v3.25.1
Stock-Based Compensation (Tables)
 3 Months Ended
Mar. 31, 2025
Share-Based Payment Arrangement [Abstract]  
Summary of Stock Option Activities
Following is a summary of stock option activities for the three months ended March 31, 2025:
Options Weighted
Average
Exercise Price
Weighted
Average
Grant Date
Fair Value
Weighted
Average
Remaining
Life
(years)
Intrinsic
Value
Outstanding – January 1, 2025 5,124,516  $ 0.19  $ 0.23  3.0
Exercised (1,568,167) 0.18  0.11  $ 4,693 
Forfeited —  —  — 
Outstanding – March 31, 2025
 3,556,349  $ 0.19  $ 0.29  3.5 $ 9,025 
Exercisable as of March 31, 2025
 3,556,349  $ 0.19  $ 0.29  3.5 $ 9,025 
Summary of Restricted Stock Activity

Restricted Stock Units
Weighted Average Grant Date
Fair Value
Non-vested – January 1, 2025 9,286,110  $ 4.10 
Granted
3,110,634  3.18 
Vested
 (1,465,407) 4.22 
Forfeited
 (51,474) 3.50 
Non-vested – March 31, 2025 (1)
 10,879,863  $ 3.82 
(1) 5,883,703 are PSUs that will vest subject to the achievement of Adjusted EBITDA and Free Cash Flow goals 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 March 31,
2025 2024
Software development (1)
 $ 112  $ (20)
General and administrative (1)
 3,987  4,197 
Selling and marketing
 112  366
Total stock-based compensation expense (2)
 $ 4,211  $ 4,543 
(1) For the three months ended March 31, 2024, a cumulative adjustment of $181 was recorded due to the forfeiture of restricted stock units of certain former employees.
(2) Stock-based compensation expense for the three months ended March 31, 2025 includes a $(6) net accrual reversal. For the three months ended March 31, 2024, stock-based compensation expense included $225 of accrued expense.