STOCK INCENTIVE PLANS (Tables)

9 Months Ended

Sep. 30, 2023

Share-Based Payment Arrangement [Abstract]

Schedule of RSU Rollforward

During the nine months ended September 30, 2023, RSU activity for Service Providers and non-employee directors was as follows:

	Class A Common Stock	LT50 Common Stock	Weighted average grant date fair value per share
Outstanding at December 31, 2022	3,379,657	3,304,643	$	33.88
RSUs granted	55,731	—	$	8.17
RSUs vested	(383,721)	(352,576)	$	32.74
RSUs cancelled/forfeited/expired	(190,424)	(190,424)	$	40.95
Outstanding at September 30, 2023	2,861,243	2,761,643	$	32.61

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, 2022	6,301,650	$	1.67	5.20
Options exercised	(199,898)	$	1.08
Options cancelled/forfeited/expired	(110,097)	$	2.76
Outstanding at September 30, 2023	5,991,655	$	1.67	4.30
Exercisable at September 30, 2023	5,893,175	$	1.64	4.27

Schedule of Stock-based Compensation Expense

The following table summarizes the stock-based compensation recognized for options granted under the 2009 Stock Plan, options and RSUs granted under the 2019 Stock Plan, RSUs granted under the 2021 Plan and matching and discretionary shares issued under the Matching Plan (in thousands):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022
Matching Plan shares	$	1,697	$	24	$	3,018	$	41
Stock options	842		970		2,616		2,969
Restricted stock units	8,548		12,370		27,197		38,783
Stock-based compensation	$	11,087	$	13,364	$	32,831	$	41,793

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 expense is included in the following components of expenses on the accompanying Condensed Consolidated Statements of Operations (in thousands):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022
Cost of revenue, net	$	3,312	$	4,667	$	10,218	$	14,278
Research and development	2,901		1,931		7,562		6,230
General and administrative	2,532		4,624		7,552		15,063
Sales and marketing	1,522		2,142		5,280		6,222
Stock-based compensation expense	$	10,267	$	13,364	$	30,612	$	41,793