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Stock-Based Compensation (Tables) | 9 Months Ended
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Sep. 30, 2022
Share-Based Payment Arrangement [Abstract] |
Schedule of Stock Option Activity | A summary of the Company’s option activity during the nine months ended September 30, 2022 was as follows (in thousands, except share and per share amounts):
|  |  |  |  |  |  |  | Weighted- |  |  |  |
|  |  |  |  | Weighted- |  |  | Average |  |  |  |
|  |  |  |  | Average |  |  | Remaining |  |  | Aggregate |
|  | Options |  |  | Exercise Price |  |  | Contractual |  |  | Intrinsic |
|  | Outstanding |  |  | per Share |  |  | Life (years) |  |  | Value |
Outstanding at December 31, 2021 |  |  | 6,849,910 |  |  | $ | 5.05 |  |  |  | 4.98 |  |  | $ | 205,010 |
Options granted |  |  | — |  |  |  |  |  |  |  |  |  |
Options exercised |  |  | (2,282,645 | ) |  |  | 0.64 |  |  |  |  |  |  |
Options forfeited |  |  | (210,104 | ) |  |  | 8.66 |  |  |  |  |  |  |
Outstanding at September 30, 2022 |  |  | 4,357,161 |  |  | $ | 7.19 |  |  |  | 5.88 |  |  | $ | 11,041 |
Exercisable at September 30, 2022 |  |  | 3,294,854 |  |  | $ | 6.72 |  |  |  | 5.61 |  |  | $ | 9,900 |
Schedule of Stock Option Grant Using Black-Scholes Option Pricing Model With Assumptions | The fair value of options granted during the nine months ended September 30, 2021 was estimated using the Black-Scholes option-pricing model with the following weighted-average assumptions:
|  | Three Months Ended September 30, |  | Nine Months Ended September 30, |
|  | 2021 |  | 2021 |
Dividend yield |  |  |  |  | 0.0 | %
Risk-free interest rate |  |  |  | 0.3 % - 0.8% |
Expected term (in years) |  |  |  |  | 5 |
Expected volatility |  |  |  |  | 38.0 | %
Summary of RSU Activity | A summary of the Company’s RSU activity during the nine months ended September 30, 2022 was as follows:
|  |  |  |  |  |  |  |  | Weighted- |
|  |  |  |  |  |  |  |  | Average |
|  |  |  |  |  | Number of |  |  | Grant Date |
|  |  |  |  |  | RSU's Outstanding |  |  | Fair Value |
Awarded and unvested at December 31, 2021 |  |  |  |  |  |  | 513,547 |  |  | $ | 25.93 |
Awards granted |  |  |  |  |  |  | 1,142,491 |  |  |  | 15.37 |
Awards vested |  |  |  |  |  |  | (68,096 | ) |  |  | 26.08 |
Awards forfeited |  |  |  |  |  |  | (150,076 | ) |  |  | 17.80 |
Awarded and unvested at September 30, 2022 |  |  |  |  |  |  | 1,437,866 |  |  | $ | 18.38 |
Summary of Stock Based Compensation Expense | Stock-based compensation expense included in the condensed consolidated statements of operations was as follows (in thousands):
|  |  |  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
|  |  |  |  |  | 2022 |  |  | 2021 |  |  | 2022 |  |  | 2021 |
Cost of revenue |  |  |  |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Operating expenses |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Research and development |  |  |  |  |  |  | 507 |  |  |  | 110 |  |  |  | 1,080 |  |  |  | 141 |
Sales and marketing |  |  |  |  |  |  | 612 |  |  |  | 56 |  |  |  | 1,062 |  |  |  | 92 |
General and administrative |  |  |  |  |  |  | 883 |  |  |  | 588 |  |  |  | 2,480 |  |  |  | 1,652 |
Total stock-based compensation |  |  |  |  |  | $ | 2,002 |  |  | $ | 754 |  |  | $ | 4,622 |  |  | $ | 1,885 |

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- Definition Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(1) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure of the number and weighted-average grant date fair value for restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock units that were granted, vested, or forfeited during the year. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
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