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Share-based Compensation (Tables) | 9 Months Ended
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Sep. 30, 2020
Share-based Payment Arrangement [Abstract] |
Summary of allocation of share-based compensation expenses | The table below sets forth the allocation of share-based compensation expenses:
|  | For the nine months ended September 30, |
|  | 2019 |  |  | 2020 |
|  | RMB |  |  | RMB |
Research and development expenses |  |  | 1,061 |  |  |  | 11,577 |
General and administrative expenses |  |  | 2,302 |  |  |  | 7,658 |
Cost of revenues |  |  | 1,447 |  |  |  | 3,876 |
Sales and marketing expenses |  |  | 688 |  |  |  | 3,790 |
Total |  |  | 5,498 |  |  |  | 26,901 |
Schedule of share based payment award stock options valuation assumptions | The fair value of each option granted for the nine months ended September 30, 2019 and 2020 is estimated on the date of grant using the following assumptions:
|  | For the nine months ended September 30, |
|  | 2019 |  |  | 2020 |
Expected volatility |  |  | 46.50%-46.90% |  |  |  | 48.90%-52.20% |
Expected dividends yield |  |  | 0% |  |  |  | 0% |
Risk-free interest rate |  |  | 2.10%-2.60% |  |  |  | 0.30%-1.69% |
Expected term (in years) |  |  | 6 |  |  |  | 6 |
Fair value of underlying ordinary share (US$) |  |  | 6.35-7.29 |  |  |  | 16.00-42.31 |
Schedule of share based compensation stock option activity | The following table presents a summary of the Company’s options activities for the nine months ended September 30, 2019 and 2020:
|  | Number of options |  |  | Weighted average exercise price per share |  |  | Weighted average remaining contractual life |  |  | Aggregate intrinsic value |
|  | (in thousands) |  |  | US$ |  |  | Years |  |  | US$ |
Outstanding as of January 1, 2019 |  |  | 6,991 |  |  |  | 2.13 |  |  |  | 3.40 |  |  |  | 29,468 |
Granted |  |  | 2,072 |  |  |  | 3.50 |  |  |  |  |  |  |  |  |
Forfeited |  |  | (626 | ) |  |  | 2.52 |  |  |  |  |  |  |  |  |
Outstanding as of September 30, 2019 |  |  | 8,437 |  |  |  | 2.44 |  |  |  | 3.30 |  |  |  | 40,906 |
Outstanding as of January 1, 2020 |  |  | 8,329 |  |  |  | 2.43 |  |  |  | 3.06 |  |  |  | 97,000 |
Granted |  |  | 888 |  |  |  | 4.00 |  |  |  |  |  |  |  |  |
Exercised |  |  | (1,987 | ) |  |  | 1.93 |  |  |  |  |  |  |  |  |
Forfeited |  |  | (247 | ) |  |  | 2.89 |  |  |  |  |  |  |  |  |
Outstanding as of September 30, 2020 |  |  | 6,983 |  |  |  | 2.76 |  |  |  | 2.98 |  |  |  | 161,159 |
Vested and exercisable as of September 30, 2019 |  |  | — |  |  |  | — |  |  |  |  |  |  |  |  |
Vested and exercisable as of September 30, 2020 |  |  | 3,156 |  |  |  | 2.12 |  |  |  | 1.70 |  |  |  | 74,874 |

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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 http://asc.fasb.org/extlink&oid=120381028&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 http://asc.fasb.org/extlink&oid=120381028&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 http://asc.fasb.org/extlink&oid=120381028&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 http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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