Annual and transition report of foreign private issuers pursuant to Section 13 or 15(d)

Share equity incentive plans (Tables)

v3.24.0.1
Share equity incentive plans (Tables)
 12 Months Ended
Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]  
Schedule of options activity
The following table summarizes share option activity for the years ended December 31, 2022 and 2023:
2022 2023
Number
of
Options		 Weighted Average Exercise Price Weighted
Average remaining Contractual Term
(in years)		 Number
of
Options		 Weighted Average Exercise Price Weighted
Average remaining Contractual Term
(in years)
Outstanding at the beginning of the year 9,981,394  $ 2.37  6.65 8,362,930  $2.28 5.25
Granted —  —  —  —  — — 
Exercised (911,307) 2.23  —  (863,806) 2.67  — 
Forfeited (707,157) 3.56  —  (147,725) 3.45  — 
Outstanding at the end of the year 8,362,930  $ 2.28  5.25 7,351,399  $2.21 4.04
Exercisable at the end of the year 7,001,928  $ 2.18  4.75 6,844,376  $2.15 3.83
Schedule of valuation assumptions
The fair value of the share options granted in the year ended December 31, 2021 was estimated on the grant date based on the following assumptions:
Volatility 60%
Expected term in years 6.25
Risk-free interest rate
0.55% - 0.92%
Estimated fair value of underlying ordinary shares
12.92 - 24.08
Dividend yield 0%
Schedule of RSU activity
The following table summarizes RSU (including PRSU) activity for the years ended December 31, 2022 and 2023:
2022 2023
Number of RSUs Weighted Average Fair Value at grant date Number of RSUs Weighted Average Fair Value at grant date
Outstanding and unvested at the beginning of the year 967,797  $ 18.97  2,866,980  $ 12.06 
Granted 2,678,036  10.66  2,820,708  6.54 
Vested (319,516) 17.91  (1,060,404) 11.83 
Forfeited (459,337) 15.06  (623,948) 10.90 
Outstanding and unvested at the end of the year 2,866,980  12.06  4,003,336  8.16 
Schedule of expenses capitalized
The following table summarizes the share-based compensation recorded in each line item in the accompanying consolidated statements of comprehensive income (loss):
Year Ended December 31,
2021 2022 2023
Cost of revenue $ 211  $ 599  $ 635 
Research and development 4,058  5,287  5,782 
Sales and marketing 3,450  5,995  5,196 
General and administrative 3,452  5,106  6,514 
Total $ 11,171  $ 16,987  $ 18,127