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Stock-based Compensation (Tables)
12 Months Ended
Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]  
Stock option valuation assumptions used
The following table presents, on a weighted-average basis, the assumptions used in the Black Scholes option-pricing model to determine the grant-date fair value:
Year Ended December 31,
202220212020
Expected term in years6.06.06.1
Expected stock price volatility64.6 %67.5 %46.7 %
Risk-free interest rate2.3 %1.1 %0.5 %
Expected dividend yield— — — 
Stock option activity
The following table summarizes the Company’s stock option activity since December 31, 2021:
Number of
Options
Weighted-
Average
Exercise
Price
Weighted-
Average
Remaining
Contractual
Term (Years)
Aggregate
Intrinsic
Value (in thousands)
Outstanding as of December 31, 2021
3,949,943 $6.46 6.9$24,543 
Granted1,040,000 7.39 
Exercised(509,694)3.98 
Cancelled/Forfeited(445,962)7.54 
Outstanding as of December 31, 2022
4,034,287 $6.90 6.9$1,625 
Options exercisable as of December 31, 2022
2,350,049 $5.72 5.5$1,577 
Options vested and expected to vest as of December 31, 2022
4,034,287 $6.90 6.9$1,625 
Restricted stock units activity
The following table summarizes the activity related to the Company's restricted stock units:
Outstanding Restricted Stock UnitsWeighted-
Average
Grant Date Fair Value
Outstanding as of December 31, 2021
309,530 $15.30 
Granted3,729,585 7.51 
Vested(758,970)8.79 
Cancelled/Forfeited(472,164)8.55 
Outstanding as of December 31, 2022
2,807,981 $7.85 
Classification of stock-based compensation
The following table below summarizes the classification of the Company’s stock-based compensation in the consolidated statements of operations:
Year Ended December 31,
202220212020
Cost of revenue$574 $81 $23 
Sales and marketing2,522 559 303 
Technology development4,118 707 230 
General and administrative4,000 1,492 290 
Total stock-based compensation$11,214 $2,839 $846