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Stock-based Compensation (Tables)
6 Months Ended
Jun. 30, 2022
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]  
Schedule of Total Stock-based Compensation Cost, Net of Forfeitures

Total stock-based compensation cost, net of forfeitures, was as follows:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(In thousands)

 

Three Months Ended June 30, 2022

 

 

Three Months Ended June 30, 2021

 

 

Six Months Ended June 30, 2022

 

 

Six Months Ended June 30, 2021

 

Cost of revenue

 

$

971

 

 

$

604

 

 

$

1,919

 

 

$

2,211

 

Selling and marketing expense

 

 

2,091

 

 

 

2,500

 

 

 

769

 

 

 

7,641

 

General and administrative expense

 

 

12,149

 

 

 

17,960

 

 

 

22,547

 

 

 

37,868

 

Product development expense

 

 

7,236

 

 

 

8,852

 

 

 

14,769

 

 

 

28,019

 

Total stock-based compensation expense

 

$

22,447

 

 

$

29,916

 

 

$

40,004

 

 

$

75,739

 

Summary of Weighted-Average Assumptions Used in Monte Carlo Model for 2020

The weighted-average assumptions the Company used in the Monte Carlo model for 2020 are as follows:

 

Dividend yield

 

 

 

Expected volatility

 

 

58

%

Risk-free interest rate

 

 

0.86

%

Expected time to liquidity event (years)

 

 

4.7

 

Summary of Assumption Ranges and Fair Value Per Unit

The fair value of Time-Vesting awards granted or modified at the time of the IPO was determined using the Black-Scholes option pricing model with the following assumptions:

 

Volatility

 

55%-60%

 

Expected Life

 

0.5 - 7.4 years

 

Risk-free rate

 

0.1%-0.8%

 

Fair value per unit

 

$43.00

 

Dividend yield

 

 

0.0

%

Discount for lack of marketability(1)

 

15% - 25%

 

Summary of Aggregate Intrinsic Value and Weighted Average Remaining Contractual Terms weighted average remaining contractual terms of Time-Vesting and Exit-Vesting options outstanding and options exercisable were as follows as of June 30, 2022.

 

Aggregate intrinsic value

 

 

 

Time-Vesting options outstanding

 

 

1,552,064

 

Time Vesting options exercisable

 

 

 

Exit-Vesting options outstanding

 

 

 

Exit-Vesting options exercisable

 

N/A

 

Weighted-average remaining contractual term (in years)

 

 

 

Time-Vesting options outstanding

 

 

9.0

 

Time Vesting options exercisable

 

 

8.2

 

Exit-Vesting options outstanding

 

 

8.6

 

Exit-Vesting options exercisable

 

N/A

 

Incentive Units  
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]  
Summary of Information Around Incentive Units in Bumble Holdings The newly granted Incentive Units contain the same vesting attributes as Incentive Units granted as a result of the Reclassification.

 

 

 

 

 

 

 

Time-Vesting Incentive Units

 

 

Exit-Vesting Incentive Units

 

 

 

Number of
Awards

 

 

Weighted-
Average
Participation
Threshold

 

 

Number of
Awards

 

 

Weighted-
Average
Participation
Threshold

 

Unvested as of December 31, 2021

 

 

5,170,731

 

 

$

14.22

 

 

 

4,324,868

 

 

$

13.81

 

Granted

 

 

 

 

 

 

 

 

 

 

 

 

Vested

 

 

(887,890

)

 

 

13.78

 

 

 

 

 

 

 

Forfeited

 

 

 

 

 

 

 

 

 

 

 

 

Unvested as of June 30, 2022

 

 

4,282,841

 

 

$

14.31

 

 

 

4,324,868

 

 

$

13.81

 

RSU's  
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]  
Exit Vesting RSUs Granted Exit-Vesting RSUs that were granted as a result of the Reclassification contain similar vesting requirements to the previously Exit-Vesting Phantom Class B Units.

 

 

 

 

 

 

 

Time-Vesting RSUs

 

 

Exit-Vesting RSUs

 

 

 

Number of
Awards

 

 

Weighted-
Average
Grant-Date
Fair
Value

 

 

Number of
Awards

 

 

Weighted-
Average
Grant-Date
Fair
Value

 

Unvested as of December 31, 2021

 

 

2,803,943

 

 

$

45.36

 

 

 

1,217,151

 

 

$

30.52

 

Granted

 

 

2,536,416

 

 

 

27.86

 

 

 

 

 

 

 

Vested

 

 

(523,746

)

 

 

44.83

 

 

 

 

 

 

 

Forfeited

 

 

(636,313

)

 

 

39.56

 

 

 

(272,441

)

 

 

30.52

 

Unvested as of June 30, 2022

 

 

4,180,300

 

 

$

35.69

 

 

 

944,710

 

 

$

30.52

 

Time-Vesting Awards  
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]  
Summary of Time Vesting RSUs and Exit Vesting RSUs Granted

The following table summarizes the Company’s option activity as it relates to Time-Vesting stock options as of June 30, 2022:

 

 

 

June 30, 2022

 

 

 

Number of
Options

 

 

Weighted-
Average
Exercise
Price Per
Share

 

 

Weighted-
Average
Grant Date
Fair Value
Per Share

 

Outstanding as of December 31, 2021

 

 

2,038,016

 

 

$

43.76

 

 

$

22.96

 

Granted

 

 

1,198,321

 

 

 

27.06

 

 

 

17.17

 

Exercised

 

 

 

 

 

 

 

 

 

Forfeited and expired

 

 

(462,623

)

 

 

38.17

 

 

 

20.72

 

Outstanding as of June 30, 2022

 

 

2,773,714

 

 

$

37.48

 

 

$

20.89

 

Exercisable as of June 30, 2022

 

 

419,976

 

 

$

43.00

 

 

$

22.22

 

Exit-Vesting Awards  
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]  
Summary of Assumption Ranges and Fair Value Per Unit

The fair value of Exit-Vesting awards granted or modified at the time of the IPO was determined using a Monte Carlo simulation approach in an option pricing framework, where the common stock price of the Company was evolved using a Geometric Brownian Motion over a period from the Valuation Date to the date of Management's expected exit date - a date at which MOIC and IRR realized by the Sponsor can be calculated ("Sponsor Exit"), with the following assumptions:

 

Volatility

 

 

55

%

Expected Life

 

1.8 years

 

Risk-free rate

 

 

0.1

%

Fair value per unit

 

$43.00

 

Dividend yield

 

 

0.0

%

Discount for lack of marketability(1)

 

 

15

%

Summary of Option Activity Related to Time-Vesting Stock Options and Exit-Vesting Stock Options

The following table summarizes the Company’s option activity as it relates to Exit-Vesting stock options as of June 30, 2022:

 

 

 

June 30, 2022

 

 

 

Number of
Options

 

 

Weighted-
Average
Exercise
Price Per
Share

 

 

Weighted-
Average
Grant Date
Fair Value
Per Share

 

Outstanding as of December 31, 2021

 

 

222,424

 

 

$

43.00

 

 

$

18.10

 

Granted

 

 

 

 

 

 

 

 

 

Exercised

 

 

 

 

 

 

 

 

 

Forfeited

 

 

(58,062

)

 

 

43.00

 

 

 

18.10

 

Outstanding as of June 30, 2022

 

 

164,362

 

 

$

43.00

 

 

$

18.10

 

Exercisable as of June 30, 2022

 

 

 

 

 

 

 

 

 

Time Vesting Options Granted  
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]  
Summary of Option Activity Related to Time-Vesting Stock Options and Exit-Vesting Stock Options

The fair value of Time-Vesting Options granted during the six months ended June 30, 2022 was determined using the Black-Scholes option pricing model with the following assumptions:

 

Volatility

 

60%-70%

 

Expected Life

 

7.0 years

 

Risk-free rate

 

1.74% - 2.95%

 

Fair value per unit

 

$15.36 - $17.66

 

Dividend yield

 

 

0.0

%

Restricted Shares Of Class A Common Stock In Bumble Inc  
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]  
Summary of Information about Restricted Shares The Company did not recognize any incremental fair value due to the reclassification of awards as the fair value per award was the same immediately prior to and after the Reclassification.

 

 

 

 

 

 

 

 

 

 

 

 

Time-Vesting
Restricted Shares of Class A Common Stock

 

 

Exit-Vesting
Restricted Shares of Class A Common Stock

 

 

 

Number of
Awards

 

 

Weighted-
Average
Grant-Date
Fair
Value

 

 

Number of
Awards

 

 

Weighted-
Average
Grant-Date
Fair
Value

 

Unvested as of December 31, 2021

 

 

98,717

 

 

$

7.26

 

 

 

82,211

 

 

$

5.19

 

Granted

 

 

 

 

 

 

 

 

 

 

 

 

Vested

 

 

(23,232

)

 

 

6.73

 

 

 

 

 

 

 

Forfeited

 

 

(12,241

)

 

 

6.97

 

 

 

(13,418

)

 

 

4.89

 

Unvested as of June 30, 2022

 

 

63,244

 

 

$

7.51

 

 

 

68,793

 

 

$

5.25