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Equity and Warrants (Tables)
6 Months Ended
Jun. 30, 2023
Equity and Warrants  
Summary of fully diluted capital structure

June 30, 

December 31, 

2023

2022

Issued and outstanding common shares

    

96,118,956

    

96,405,838

Earnout shares

 

2,050,000

 

2,050,000

Total common shares issued and outstanding

98,168,956

98,455,838

Common shares reserved for future issuance:

Private warrants

1,795,700

1,795,700

Stock options (Note 9)

 

3,717,192

 

3,862,918

Restricted and performance stock units and awards (Note 9)

 

13,244,675

 

6,230,165

2020 Equity Plan pool reserved for future issuance (Note 9)

 

8,045,331

 

11,189,745

Convertible senior notes, due 2026(1)

8,999,010

16,998,130

Convertible senior notes, due 2028

13,331,893

Contingently issuable shares in connection with acquisitions(2)

13,969,860

10,631,558

Total shares of common stock outstanding and reserved for future issuance

 

161,272,617

 

149,164,054

(1)In connection with the September 16, 2021, issuance of the 2026 Notes, we used a portion of the proceeds to pay for the capped call transactions, which are expected to generally reduce the potential dilution to our common stock. The capped call transactions allow us to purchase shares of our common stock at a strike price of $25 per share, which is equal to the conversion price of the 2026 Notes and 2028 Notes. The capped call transactions are designed to limit the amount of dilution of our common stock upon conversion of the notes. The maximum number of shares purchasable by us under the capped call transactions is 16,998,130. The options that underly the capped call transactions expire on September 15, 2026.

(2)In connection with the acquisitions of Floify and HOA, we provided an obligation to issue a certain amount of common stock to the extent specified market conditions are met in the future. Contingently issuable shares are calculated in accordance with the purchase agreement, assuming they would be issuable if the end of the reporting periods were the end of the contingency period.
Schedule of warrant activity

Number of 

Number of 

 

Common

Warrants

 

Shares Issued

Balances as of December 31, 2022

 

 

1,795,700

11,521,412

Exercised

 

 

Canceled

Balances as of June 30, 2023

 

 

1,795,700

11,521,412