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Stock-Based Compensation (Tables) | 6 Months Ended
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Jun. 30, 2023
Share-Based Payment Arrangement [Abstract] |
Schedule of fair value weighted-average assumptions | The following table presents, on a weighted average basis, the assumptions used in the Black-Scholes option-pricing model to determine the grant-date fair value of stock options granted during the six months ended June 30, 2023 and 2022:
| Six Months Ended June 30,
| 2023 |  | 2022
Risk-free interest rate | 4.2 | % |  | 1.6 | %
Expected term (in years) | 6.1 |  | 6.1
Expected volatility | 87.5 | % |  | 75.0 | %
Expected dividend yield | 0.0 | % |  | 0.0 | %
Summary of stock option activity | The following table summarizes the Company’s stock option activity since December 31, 2022 (in thousands, except for share and per share data):
| Number of Shares |  | Weighted Average Exercise Price
Outstanding as of December 31, 2022 | 20,396,824 |  | $ | 0.73 |
Granted | 2,840,421 |  | 3.12 |
Exercised | (875,780) |  | 0.39 |
Forfeited | (20,468) |  |  | 0.42 |
Outstanding as of June 30, 2023 | 22,340,997 |  | 1.05 |
Summary of restricted stock unit activity | The following table summarizes the Company's restricted stock units activity since December 31, 2022:
| Number of Shares |  | Grant Date Fair Value
Outstanding as of December 31, 2022 | 7,501,945 |  |  | $ | 3.54 |
Granted | 7,742,983 |  |  | 3.25 |
Vested | (2,447,672) |  |  | 3.40 |
Forfeited | (345,516) |  |  | 3.75 |
Outstanding as of June 30, 2023 | 12,451,740 |  |  | $ | 3.38 |
Summary of performance stock unit activity | The following table summarizes the Company's performance stock units activity since December 31, 2022:
| Number of Shares |  | Grant Date Fair Value
Outstanding as of December 31, 2022 | 864,000 |  |  | $ | 2.65 |
Granted | — |  |  | — |
Vested | (432,000) |  |  | 2.65 |
Forfeited | (25,000) |  |  | 2.65 |
Outstanding as of June 30, 2023 | 407,000 |  |  | $ | 2.65 |
Schedule of allocation of share based compensation expense | Stock-based compensation expense was classified in the condensed consolidated statements of operations and comprehensive loss as follows (in thousands):
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2023 |  | 2022 |  | 2023 |  | 2022
Cost of revenue | $ | 184 |  | $ | 280 |  | $ | 329 |  | $ | 388
Research and development | 1,238 |  | 931 |  | 2,075 |  | 1,479
Sales and marketing | 2,508 |  | 2,344 |  | 4,506 |  | 3,828
General and administrative | 2,759 |  | 1,506 |  | 4,822 |  | 3,293
Total stock-based compensation expense | $ | 6,689 |  | $ | 5,061 |  | $ | 11,732 |  | $ | 8,988

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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 -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + 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 -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (e) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + 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 -Topic 718 -SubTopic 10 -Subparagraph (f)(2) -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
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- Definition Disclosure of the number and weighted-average grant date fair value for restricted stock and restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock and restricted stock units that were granted, vested, or forfeited during the year. + References No definition available. + Details
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- Definition Tabular disclosure of number and weighted-average grant date fair value for nonvested performance shares. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Subparagraph (c) -Paragraph 2 -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
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