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Stock-Based Compensation (Tables)

9 Months Ended

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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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.

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (h)(1)
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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.

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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.

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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.

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