Quarterly report pursuant to Section 13 or 15(d)

Convertible Redeemable Preferred Stock And Stockholders Equity (Tables)

v3.24.2.u1
Convertible Redeemable Preferred Stock And Stockholders Equity (Tables)
6 Months Ended
Jun. 30, 2024
Equity [Abstract]  
Summary of Income Statement Classification of Compensation Expense

The following table summarizes the statement of operations classification of compensation expense associated with share-based payments (in thousands):

 

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

June 30,

 

 

June 30,

 

 

 

2024

 

 

2023

 

 

2024

 

 

2023

 

Cost of revenue

 

$

 

 

$

5

 

 

$

 

 

$

23

 

Sales and marketing

 

 

49

 

 

 

105

 

 

 

71

 

 

 

302

 

General and administrative

 

 

(95

)

 

 

(25

)

 

 

(3

)

 

 

405

 

Engineering and development

 

 

 

 

 

(1

)

 

 

(1

)

 

 

45

 

Total

 

$

(46

)

 

$

84

 

 

$

67

 

 

$

775

 

Summary of Unvested Restricted Stock Units

A summary of unvested RSU activity for the six months ended June 30, 2024 is as follows (in thousands, except per share amounts):

 

 

 

 

 

 

Weighted

 

 

 

 

 

 

Average Grant

 

 

 

Shares

 

 

Date Fair Value

 

Unvested RSUs as of December 31, 2023

 

 

44

 

 

$

18.50

 

Vested

 

 

(27

)

 

$

19.80

 

Forfeited or cancelled

 

 

(6

)

 

$

19.51

 

Unvested RSUs as of June 30, 2024

 

 

11

 

 

$

34.68

 

Summary of Warrant Activity

A summary of the share equivalent of warrant activity for the six months ended June 30, 2024 is as follows (in thousands, except exercise price amounts):

 

 

 

 

 

 

Weighted

 

 

 

 

 

 

Average

 

 

 

Shares

 

 

Exercise
Price

 

Warrants outstanding as of December 31, 2023

 

 

4,323

 

 

$

11.88

 

Granted or Issued

 

 

42,427

 

 

$

0.57

 

Exercised

 

 

(22,874

)

 

$

 

Warrants outstanding as of June 30, 2024

 

 

23,876

 

 

$

2.52

 

Warrants exercisable as of June 30, 2024

 

 

23,876

 

 

$

2.52

 

Vested warrants expired during the period
 ended June 30, 2024

 

 

 

 

$

 

Summary our stock warrants measured at fair value on a recurring basis

The following tables summarize the Company's stock warrants measured at fair value (level 3) on a recurring basis:

 

 

 

December 31,

 

 

 

 

 

 

 

 

Fair Value

 

 

June 30,

 

 

 

2023

 

 

Additions

 

 

Exercises

 

 

Adjustment

 

 

2024

 

Series H Warrants

 

$

620

 

 

$

 

 

$

 

 

$

56

 

 

$

676

 

Series J Warrants

 

 

743

 

 

 

 

 

 

(95

)

 

 

(16

)

 

 

632

 

Class A Warrants

 

 

 

 

 

2,280

 

 

 

(1,960

)

 

 

(106

)

 

 

214

 

Class B Warrants

 

 

 

 

 

1,379

 

 

 

 

 

 

(419

)

 

 

960

 

Investor Warrants

 

 

 

 

 

192

 

 

 

 

 

 

(58

)

 

 

134

 

Total Level 3

 

$

1,363

 

 

$

3,851

 

 

$

(2,055

)

 

$

(543

)

 

$

2,616