v3.26.1
STOCK INCENTIVE PLANS (Tables)
 6 Months Ended
Jun. 30, 2026
Share-Based Payment Arrangement [Abstract]  
Schedule of RSU Rollforward
During the six months ended June 30, 2026, equity-classified RSU activity was as follows:
Class A Common StockLT50
Common Stock		Weighted average grant date fair value per share
Outstanding at December 31, 20251,547,676 1,373,802 $30.30 
RSUs granted371,286 — $1.14 
RSUs vested(335,279)(181,589)$23.06 
RSUs cancelled/forfeited/expired(42,501)(22,317)$34.17 
Outstanding at June 30, 20261,541,182 1,169,896 $27.60 
Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions
The fair value of options granted during the six months ended June 30, 2026 was estimated using the Black-Scholes option pricing model with the following weighted average assumptions:
Six Months Ended June 30,
2026
Fair value of common stock per share$1.57 
Expected dividend yield (1)
— %
Risk-free interest rate (2)
4.4 %
Expected volatility (3)
75.2 %
Expected life (in years) (4)
8.07
(1)The Company has no history or expectation of paying cash dividends on its common stock.
(2)The risk-free interest rate is based on the U.S. Treasury yield for a term consistent with the expected life of the awards in effect at the time of grant.
(3)Expected volatility is based on the historical volatility of the Company’s Class A common stock and peer group comparisons over the expected life of the options.
(4)The expected life of options to Service Providers with a demonstrated exercise history of holding options to maturity is based on the contractual term of the options. For all other options, the Company determined the expected life based on the average of the time-to-vesting and the contractual life of the stock-based awards.
Schedule of Stock Option Roll-forward
A summary of the Company's stock option activity during the six months ended June 30, 2026 was as follows:
SharesWeighted average exercise price per shareWeighted average remaining contractual life (in years)
Outstanding at December 31, 20253,248,373 $2.47 3.49
Options granted5,580,464 $1.75 
Options exercised(44,071)$0.97 
Options cancelled/forfeited/expired(80,455)$5.45 
Outstanding and exercisable at June 30, 20268,704,311 $1.99 7.48
Schedule of Stock-based Compensation Expense
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Matching Plan shares$488 $973 $1,096 $2,500 
Equity-classified restricted stock units5,038 5,937 10,302 12,013 
Settlement of liability-classified restricted stock units342 344 718 344 
Stock options1,782 209 1,782 835 
Total stock-based compensation7,650 7,463 13,898 15,692 
Less: stock-based compensation capitalized as software development costs(439)(536)(710)(775)
Total stock-based compensation expense$7,211 $6,927 $13,188 $14,917 
Stock-based compensation expense is allocated based on the cost center to which the award holder spent time during the reported periods. Stock-based compensation expense is included in the following components of expenses on the Condensed Consolidated Statements of Operations (in thousands):
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Cost of revenue, net$2,420 $2,770 $4,731 $5,809 
Research and development2,058 2,018 3,920 4,421 
General and administrative1,391 1,178 2,427 2,749 
Sales and marketing1,342 961 2,110 1,938 
Total stock-based compensation expense$7,211 $6,927 $13,188 $14,917