v3.26.1
Stock-Based Compensation (Tables)
 3 Months Ended
Mar. 31, 2026
Share-Based Payment Arrangement [Abstract]  
Schedule of Stock-based Compensation Expense
The following two tables summarize our total stock-based compensation expense by award type and where the stock-based compensation expense was recorded in our condensed consolidated statements of operations (in thousands):
Three Months Ended March 31,
20262025
(unaudited)
Restricted stock units$3,383 $5,525 
Performance-based restricted stock units177 1,165 
Employee stock purchase plan111 284 
Restricted shares99 569 
Total stock-based compensation$3,770 $7,543 
Three Months Ended March 31,
20262025
(unaudited)
Cost of revenue$667 $1,221 
Sales and marketing796 2,162 
Research and development590 1,133 
General and administrative1,717 3,027 
Total stock-based compensation$3,770 $7,543 
Schedule of Information Related to Stock Options A summary of the share option activity under the 2019 Plan for the three months ended March 31, 2026, is as follows:
Time-Based Option SharesWeighted Average Exercise PriceWeighted Average Remaining Contractual Life in YearsAggregate Intrinsic Value
(unaudited)
Outstanding at January 1, 2026
842,085 $12.36 
Options cancelled/expired
(40,753)13.06 
Outstanding at March 31, 2026
801,332 $12.32 2.3$— 
Vested and expected to vest as of March 31, 2026
801,332 $12.32 2.3$— 
Vested and exercisable as of March 31, 2026
801,332 $12.32 2.3$— 
Schedule of Outstanding RSUs and Related Activity The following table sets forth the outstanding RSUs and related activity for the three months ended March 31, 2026:
Restricted Stock UnitsWeighted Average Grant Date Fair Value
(unaudited)
Unvested and outstanding at January 1, 2026
4,004,505 $5.72 
RSUs granted2,108,959 1.78 
RSUs vested(861,165)4.85 
RSUs forfeited(81,721)5.54 
Unvested and outstanding at March 31, 2026
5,170,578 $4.26 
The following table sets forth the outstanding PRSUs, including executive PRSUs with market-based tranches, and related activity for the three months ended March 31, 2026:
Performance-based Restricted Stock UnitsWeighted Average Grant Date Fair Value
(unaudited)
Unvested and outstanding at January 1, 2026
2,521,754 $5.40 
PRSUs granted56,126 1.79 
PRSUs vested(860,169)5.19 
PRSUs forfeited(1,101,373)5.28 
Unvested and outstanding at March 31, 2026
616,338 $5.55 
Schedule of Fair Value Measurement Inputs and Valuation Techniques The fair value of the market-based tranches included in the 2025 executive PRSUs were estimated on the date of grants using the Monte Carlo simulation valuation model with the following assumptions for the three months ended March 31, 2025:
Three Months Ended
March 31, 2025
(unaudited)
Expected volatility71.6%
Expected term (in years)
1-3
Risk-free interest rate
4.16% - 4.23%
Expected dividends—
Schedule of Employee Stock Purchase Plan
The fair value of the purchase right for the ESPP option component is estimated on the date of grant using the Black-Scholes model with the following assumptions for the three months ended March 31, 2026 and 2025:
Three Months Ended March 31,
20262025
(unaudited)
Expected volatility
73.9%
75.2%
Expected term (in months)66
Risk-free interest rate
3.58%
4.25%
Expected dividends——