| Schedule of Stock-Based Compensation Costs |
The following table shows the stock-based compensation cost by award type for the periods indicated: | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended June 30, | | Six Months Ended June 30, | | 2026 | | 2025 | | 2026 | | 2025 | | (in thousands) | | | | | | | | | Equity classified awards | | | | | | | | | Restricted stock units | $ | 6,286 | | | $ | 10,231 | | | $ | 13,273 | | | $ | 21,019 | | | ESPP awards | 44 | | | — | | | 44 | | | — | | | | | | | | | | | Class B common stock | — | | | 58 | | | 16 | | | 321 | | | Liability-classified awards | 8 | | | 9 | | | 8 | | | 11 | | | Total stock-based compensation | $ | 6,338 | | | $ | 10,298 | | | $ | 13,341 | | | $ | 21,351 | |
The following table sets forth the total stock-based compensation cost included in the Company’s condensed consolidated statements of operations and comprehensive income or capitalized to assets for the periods indicated: | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended June 30, | | Six Months Ended June 30, | | 2026 | | 2025 | | 2026 | | 2025 | | (in thousands) | | | | | | | | | Cost of revenue | | | | | | | | | Platform | $ | 204 | | | $ | 273 | | | $ | 396 | | | $ | 540 | | | Products | 21 | | | 9 | | | 40 | | | 15 | | | Total cost of revenue | 225 | | | 282 | | | 436 | | | 555 | | | Research and development | 2,481 | | | 3,359 | | | 4,869 | | | 6,796 | | | Sales and marketing | 1,911 | | | 2,737 | | | 3,765 | | | 5,851 | | | General and administrative | 1,116 | | | 3,310 | | | 3,125 | | | 6,936 | | | Total stock-based compensation expense | $ | 5,733 | | | $ | 9,688 | | | $ | 12,195 | | | $ | 20,138 | | | Capitalized for software development costs | 422 | | | 425 | | | 790 | | | 848 | | | Capitalized to inventories | 183 | | | 185 | | | 356 | | | 365 | | | Total stock-based compensation | $ | 6,338 | | | $ | 10,298 | | | $ | 13,341 | | | $ | 21,351 | |
|
| Schedule of Restricted Stock Unit Activity |
A summary of the Company’s service-based RSU activity under the 2021 Equity Incentive Plan is as follows: | | | | | | | | | | | | | Number of RSUs | | Weighted- Average Grant Date Fair Value (per share) | | Outstanding at December 31, 2025 | 13,045,511 | | | $ | 7.13 | | | Granted | 4,893,242 | | | $ | 4.23 | | | Dividend equivalent grants | 308,414 | | | $ | — | | | Vested | (4,247,234) | | | $ | 8.08 | | | Forfeited / cancelled | (734,162) | | | $ | 7.65 | | | Outstanding at June 30, 2026 | 13,265,771 | | | $ | 5.47 | |
A summary of the Company’s PRSU activity under the 2021 Equity Incentive Plan is as follows: | | | | | | | | | | | | | Number of PRSUs (a) | | Weighted- Average Grant Date Fair Value (per share) | | Outstanding at December 31, 2025 | 18,985,312 | | | $ | 13.13 | | | Granted | 1,508,750 | | | $ | 4.23 | | | Dividend equivalent grants | 448,845 | | | $ | — | | | | | | | Forfeited / cancelled | (547,804) | | | $ | 8.60 | | | Outstanding at June 30, 2026 | 20,395,103 | | | $ | 12.59 | |
a.Represents the maximum number of PRSUs assuming all performance targets are achieved.
|
| Schedule of Stock Option Activity |
A summary of the Company’s stock option activity under the 2021 Equity Incentive Plan is as follows: | | | | | | | | | | | | | | | | | | | | | | | | | Number of Options | | Weighted- Average Exercise Price | | Weighted-
Average
Remaining
Term
(Years) | | Aggregate Intrinsic Value | | | | | | | | (in thousands) | | Outstanding at December 31, 2025 | 2,700,911 | | | $ | 17.50 | | | 1.1 | | $ | — | | | | | | | | | | | | | | | | | | | Forfeited / cancelled | (2,225,727) | | | $ | 17.50 | | | | | | Outstanding and expected to vest at June 30, 2026 | 475,184 | | | $ | 17.50 | | | 4.7 | | $ | — | | | Vested and exercisable at June 30, 2026 | 475,184 | | | $ | 17.50 | | | 4.7 | | $ | — | |
|