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Equity Incentive Plans (Tables)
6 Months Ended
Jun. 30, 2022
Share-Based Payment Arrangement [Abstract]  
Schedule of Weighted-Average Assumptions Used in Option Pricing Model The following weighted-average assumptions were used as inputs to the pricing model for options granted during the six months ended June 30, 2021 (there were no grants made in 2022):
Risk-free interest rate1.0 %
Expected term in years5.90
Expected volatility61.2 %
Expected dividend yield0.0 %
Schedule of Stock Option Activity
Stock option activity under the 2018 Plan for the three and six months ended June 30, 2022 was as follows:
Number of
Shares
Weighted Average
Exercise Price
Aggregate
Intrinsic Value
Weighted Average
Remaining Contractual
Term (in years)
Outstanding at January 1, 2022
3,851$1.77 
Exercised(114)1.12 
Forfeited or expired(56)1.08 
Outstanding at March 31, 2022 3,681$1.78 $23,918 8.62
Exercised(29)1.05 
Forfeited or expired(3)2.30 
Outstanding at June 30, 2022 1
3,649$1.78 $11,307 8.35
Vested and exercisable
1,454$1.00 $5,094 7.75
1 Includes 2,544, 0, and 1,105 of awards accounted for as service-based, performance-based, and market-based options, respectively, that the Company currently deems probable of vesting. The performance options vest only if gross revenue equals or exceeds certain thresholds for the years ending December 31, 2022 and 2023, while the market-based options will vest only if the price of the Company's common stock reaches a $1,000,000 market capitalization target for any 20 days during a 30-day period on or before the fourth anniversary of the closing of the Merger.
Schedule of Stock-Based Compensation Expense
The following tables presents the classification of stock-based compensation expense:
Three Months Ended June 30,Six Months Ended June 30,
2022202120222021
Sales and marketing$26 $23 $60 $50 
Product development19 71 37 112 
General and administrative419 246 2,291 359 
$464 $340 $2,388 $521