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Stock-Based Compensation (Tables)
 6 Months Ended
Jun. 30, 2022
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Summary of Stock-based Compensation

Stock-based compensation recorded in the condensed consolidated statements of operations was as follows:

 

 

 

Three Months Ended

June 30,

 

 

Six Months Ended

June 30,

 

 

 

2022

 

 

2021

 

 

2022

 

 

2021

 

Platform operations

 

$

1,303

 

 

$

5,540

 

 

$

2,389

 

 

$

8,701

 

Sales and marketing

 

 

2,426

 

 

 

11,914

 

 

 

4,605

 

 

 

18,727

 

Technology and development

 

 

1,425

 

 

 

5,029

 

 

 

2,594

 

 

 

7,968

 

General and administrative

 

 

2,614

 

 

 

7,203

 

 

 

4,556

 

 

 

11,381

 

Total

 

$

7,768

 

 

$

29,686

 

 

$

14,144

 

 

$

46,777

 

 
Summary of RSU Activity

The following summarizes RSU activity:

 

 

 

Number of Shares

(in thousands)

 

 

Weighted-Average

Grant Date Fair Value

 

RSUs outstanding as of December 31, 2021

 

 

3,033

 

 

$

24.29

 

   Granted

 

 

2,284

 

 

 

6.16

 

   Vested

 

 

(342

)

 

 

25.02

 

   Canceled/forfeited

 

 

(117

)

 

 

23.92

 

RSUs outstanding as of March 31, 2022

 

 

4,858

 

 

 

15.72

 

   Granted

 

 

365

 

 

 

6.07

 

   Vested

 

 

(322

)

 

 

24.69

 

   Canceled/forfeited

 

 

(120

)

 

 

13.64

 

RSUs outstanding as of June 30, 2022

 

 

4,781

 

 

 

14.43

 
Summary of Nonqualified Stock Option Activity

The following summarizes nonqualified stock option activity:

 

 

Number of Options

(in thousands)

 

 

Weighted-Average

Exercise Price

 

 

Weighted-Average

Remaining Contractual Term

(years)

 

 

Aggregate Intrinsic Value

(in thousands)

 

Outstanding as of December 31, 2021

 

 

220

 

 

$

15.88

 

 

 

9.7

 

 

$

20

 

Granted

 

 

3,565

 

 

 

6.09

 

 

 

 

 

 

 

 

 

Exercised

 

 

—

 

 

 

—

 

 

 

 

 

 

 

 

 

Canceled

 

 

(14

)

 

 

12.02

 

 

 

 

 

 

 

 

 

Expired

 

 

—

 

 

 

—

 

 

 

 

 

 

 

 

 

Outstanding as of March 31, 2022

 

 

3,771

 

 

 

6.64

 

 

 

9.9

 

 

 

1,891

 

Granted

 

 

216

 

 

 

6.16

 

 

 

 

 

 

 

 

 

Exercised

 

 

—

 

 

 

—

 

 

 

 

 

 

 

 

 

Canceled

 

 

(89

)

 

 

7.88

 

 

 

 

 

 

 

 

 

Expired

 

 

—

 

 

 

—

 

 

 

 

 

 

 

 

 

Outstanding as of June 30, 2022

 

 

3,898

 

 

 

6.58

 

 

 

9.7

 

 

 

—

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Vested and exercisable

 

 

16

 

 

 

26.10

 

 

 

8.9

 

 

 

—

 

 
Summary of Assumptions used in Black-Scholes Model to Determine Fair Value of Nonqualified Stock Options Granted

The following table presents the assumptions used in the Black-Scholes model to determine the fair value of nonqualified stock options for the three and six months ended June 30, 2022 and 2021.

 

Three and Six Months Ended June 30,

 

Three and Six Months Ended June 30,

 

2022

 

2021

Risk free interest rate

1.4% - 2.0%

 

1.2%

Expected volatility

61.5% - 62.7%

 

61.1%

Expected term (in years)

5.9 - 6.0

 

5.9

Expected dividend yield

0.0%

 

0.0%