Stockholders' Equity (Tables)

9 Months Ended

Sep. 30, 2025

A summary of the Company’s stock option activity for its Plans is as follows:


	Outstanding Stock Options (in thousands)	Weighted-Average Exercise Price		Weighted-Average Remaining Contractual Life (in years)	Aggregate Intrinsic Value (in millions)
Balance as of December 31, 20241	3,283	$	12.40	6.2	$	7.1
Granted2	2,119	$	10.25
Exercised	(95)	$	6.59
Cancelled/forfeited2	(631)	$	13.38
Balance as of September 30, 20251	4,676	$	11.41	7.2	$	5.5
Vested and exercisable as of September 30, 2025	2,504	$	12.43	5.5	$	2.9

______________

(1)Includes 0.2 million of stock options with both service-based and performance-based conditions.

(2)Includes 0.1 million of stock options with both service-based and performance-based conditions.

The per-share fair value of each stock option granted was determined on the date of grant using the following weighted-average assumptions:

A summary of the Company’s outstanding nonvested restricted stock units (RSUs) for its Plans is as follows:


	Number of Units (in thousands)	Weighted-Average Grant-Date Fair Value
Nonvested as of December 31, 20241	4,621	$	12.57
Granted1	3,548	$	9.43
Vested1	(2,475)	$	11.19
Forfeited	(918)	$	12.23
Nonvested as of September 30, 20251	4,776	$	11.02

______________

(1)Includes less than 0.1 million of RSUs with both service-based and performance-based conditions.

The Company recognized stock-based compensation under the Plans and ESPP as follows:


	Three Months Ended September 30,				Nine Months Ended September 30,
(in millions)	2025		2024		2025		2024
Research and development	$	2.0	$	3.7	$	6.6	$	9.4
Sales and marketing	1.7		2.3		6.4		7.6
General and administrative	3.0		4.2		8.6		12.2
Total Stock-based Compensation	$	6.7	$	10.2	$	21.6	$	29.2

NERDWALLET, INC. 10-Q