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Share-based Compensation (Tables)

9 Months Ended

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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Tabular disclosure of share-based payment arrangement.

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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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