Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2023

Share-Based Payment Arrangement [Abstract]

Schedule of Stock Option Activity

A summary of the Company’s option activity during the year ended December 31, 2023 was as follows (in thousands, except share and per share amounts):

						Weighted-
				Weighted-		Average
				Average		Remaining		Aggregate
	Options			Exercise Price		Contractual		Intrinsic
	Outstanding			per Share		Life (years)		Value
Outstanding at December 31, 2022		4,155,640		$	7.52		5.87	$	4,420
Options granted		—			—
Options exercised		(180,576	)		3.41
Options forfeited		(41,054	)		8.71
Options expired		(84,660	)		0.03
Outstanding at December 31, 2023		3,849,350		$	7.87		5.06	$	38,505
Exercisable at December 31, 2023		3,735,052		$	7.84		5.04	$	37,467

Schedule of Stock Option Grant Using Black-Scholes Option Pricing Model With Assumptions

The fair value of options granted during the year ended December 31, 2021 was estimated using the Black-Scholes option-pricing model with the following weighted-average assumptions:

	Year Ended December 31,
	2021
Dividend yield		0.0	%
Risk-free interest rate	0.3 % - 0.8%
Expected term (in years)		5
Expected volatility		38.0	%

Summary of RSU Activity

A summary of the Company’s RSU activity during the year ended December 31, 2023 was as follows:

				Weighted-
				Average
	Number of			Grant Date
	RSUs Outstanding			Fair Value
Awarded and unvested at December 31, 2022		1,362,420		$	18.03
Awards granted		1,162,564			9.29
Awards vested		(399,362	)		17.82
Awards forfeited		(179,616	)		19.24
Awarded and unvested at December 31, 2023		1,946,006		$	12.74

Summary of Stock Based Compensation Expense

Stock-based compensation expense included in the consolidated statements of operations was as follows (in

thousands):

	Year Ended December 31,
	2023		2022		2021
	(in thousands)
Cost of revenue	$	156	$	—	$	—
Research and development		1,990		1,647		517
Sales and marketing		2,808		1,736		280
General and administrative		4,436		3,353		2,339
Total stock-based compensation	$	9,390	$	6,736	$	3,136