Share-Based Payments (Tables)

3 Months Ended

Mar. 31, 2023

Share-Based Payment Arrangement [Abstract]

Options under the 2021 Plan


	Number of Units Outstanding	Weighted Average Strike Price		Weighted Average Remaining Contractual Term (in years)	Aggregate Intrinsic Value (in thousands)
Outstanding at December 31, 2022	2,009,136	$	9.44	9.0	$	—
Granted	—	—
Vested	—	—
Forfeited	(43,230)	2.58
Outstanding at March 31, 2023	1,965,906	$	9.59	8.74	$	—
Exercisable at March 31, 2023	549,943	$	11.07	8.65	$	—

As of March 31, 2023, there was $4.8 million of unrecognized compensation cost related to options to purchase common shares of the Company, which is expected to be recognized over a weighted-average period of 1.7 years.

Schedule of Restricted Stock Units

Restricted Share Units under the 2021 Plan


	Number of Units Outstanding	Weighted Average Fair Value Per Unit
Outstanding at December 31, 2022	6,747,335	$	6.34
Granted	—	—
Vested	—	—
Forfeited	(356,610)	1.68
Outstanding at March 31, 2023	6,390,725	$	6.60

Market-based RSU transactions during the three months ended March 31, 2023 are summarized as follows:


	Number of Units Outstanding	Weighted Average Fair Value Per Unit
Unvested at December 31, 2022	4,697,511	$	0.20
Granted	—	—
Vested	—	—
Forfeited	—	—
Unvested at March 31, 2023	4,697,511	$	0.20

Share-based Payments

Share-based payments are as follows (in thousands):


	Three Months Ended March 31,
	2023		2022
General and administrative2	$	1,392	$	1,017
Sales and marketing	218		36
Technology and development1	85		(57)
Cost of revenue	16		—
Total	$	1,711	$	996

1 Share-based payments for the three months ended March 31, 2022 is reflective of the effect of forfeitures.

2 Excludes share-based payment related to MAP Service Agreement for the three months ended March 31, 2023 (see Note 3) but includes the accrued board share-based expense. The cost is recognized within General and administrative expenses on the unaudited Condensed Consolidated Statement of Operations and Comprehensive Loss.