Stock-based compensation (Tables)
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6 Months Ended |
Jun. 30, 2025 |
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| Share-Based Payment Arrangement [Abstract] |
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| Schedule of stock-based compensation |
Employee stock-based compensation cost recognized in the unaudited condensed consolidated statements of income/(loss) and comprehensive income/(loss) was as follows: | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended
June 30, | | Six Months Ended
June 30, | | 2025 | | 2024 | | 2025 | | 2024 | | (in thousands) | Cost of revenues | $ | 564 | | | $ | 510 | | | $ | 1,134 | | | $ | 992 | | | Engineering, research, and development | 669 | | | 803 | | | 1,812 | | | 2,091 | | | Sales and marketing | 1,106 | | | 1,321 | | | 2,946 | | | 2,998 | | | General and administrative | 4,378 | | | 4,857 | | | 11,568 | | | 12,749 | | | Total stock-based compensation | $ | 6,717 | | | $ | 7,491 | | | $ | 17,460 | | | $ | 18,830 | |
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| Schedule of option activity |
Stock option activity under the Company’s 2018 Stock Plan is set forth below: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Number of Options | | Weighted Average Exercise Price | | Aggregate Intrinsic Value (in thousands) | | Weighted Average Contractual Term
(in years) | Options outstanding as of January 1, 2025 | | 1,285,930 | | | $ | 3.54 | | | $ | 24,047 | | | | | Options exercised | | (45,405) | | | $ | 3.54 | | | | | | Options outstanding as of June 30, 2025 | | 1,240,525 | | | $ | 3.54 | | | $ | 9,937 | | | 3.6 | | | | | | | | | | Options vested and exercisable as of June 30, 2025 | | 1,240,525 | | | $ | 3.54 | | | $ | 9,937 | | | 3.6 |
Stock option activity under the Company’s 2020 Plan is set forth below: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Number of Options | | Weighted Average Exercise Price | | Aggregate Intrinsic Value (in thousands) | | Weighted Average Contractual Term
(in years) | Options outstanding as of January 1, 2025 | | 2,748,391 | | | $ | 12.75 | | | $ | 26,881 | | | | | Options exercised | | (45,172) | | | $ | 10.68 | | | | | | | Options forfeited | | (39,025) | | | $ | 13.81 | | | | | | | Options expired | | (38,305) | | | $ | 18.89 | | | | | | Options outstanding as of June 30, 2025 | | 2,625,889 | | | $ | 12.68 | | | $ | 3,368 | | | 6.1 | | | | | | | | | | Options vested and exercisable as of June 30, 2025 | | 2,143,604 | | | $ | 12.46 | | | $ | 3,305 | | | 5.8 |
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| Schedule of restricted stock unit activity |
The following table summarizes activity of the Company’s RSUs for the six months ended June 30, 2025: | | | | | | | | | | | | | | | | | Number of Shares | | Weighted Average Grant Date Fair Value | Unvested awards as of January 1, 2025 | | 1,795,865 | | | $ | 13.39 | | | Awards granted | | 273,175 | | | $ | 22.13 | | | Awards vested and released | | (613,644) | | | $ | 13.18 | | | Awards forfeited | | (25,285) | | | $ | 15.03 | | Unvested awards as of June 30, 2025 | | 1,430,111 | | | $ | 15.12 | |
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| Schedule of performance share activity |
The following table summarizes activity of the Company’s PSUs for the six months ended June 30, 2025: | | | | | | | | | | | | | | | | | Number of Shares | | Weighted Average Grant Date Fair Value | Unvested awards as of January 1, 2025(1) | | 2,171,376 | | | $ | 13.28 | | | Awards granted | | 47,000 | | | $ | 26.14 | | | Performance achievement adjustment | | 436,791 | | | $ | 15.05 | | | Modifier adjustments | | 197,938 | | | $ | 13.72 | | | Awards vested and released | | (1,104,064) | | | $ | 11.96 | | | Awards forfeited | | (8,512) | | | $ | 13.74 | | Unvested awards as of June 30, 2025(2) | | 1,740,529 | | | $ | 14.96 | |
__________________________(1)Reported at the estimate performance adjustment of 208% of the first tranche granted in 2024 and 100% for the remaining tranches. (2)Reported at the estimate performance achievement of 179% and 100% for the second and third tranches of the target shares granted in 2024 and 2025, respectively.
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