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Stock-Based Compensation (Tables)

9 Months Ended

Sep. 30, 2023

Share-Based Payment Arrangement [Abstract]

Schedule of Stock-based Compensation Expense

The following table shows stock-based compensation expense by where the stock-based compensation expense is recorded in the Company’s unaudited condensed consolidated statement of operations:

			Three Months Ended September 30,												Nine Months Ended September 30,
			2023						2022						2023						2022
Cost of revenue			$	33					$	20					$	82					$	52
Sales and marketing			822						189						2,190						599
Research and development			579						329						1,464						836
General and administrative			2,769						1,442						7,028						3,629
Total stock-based compensation			$	4,203					$	1,980					$	10,764					$	5,116

Schedule of Weighted-Average Assumptions to Determine Fair Value

The weighted-average assumptions utilized to determine the fair value of options granted to employees are presented in the following table:

			Three Months Ended September 30,												Nine Months Ended September 30,
			2023						2022						2023						2022
Expected volatility			62.6		%				53.7		%				63.2		%				52.9		%
Weighted-average risk-free interest rate			4.03		%				2.65		%				3.71		%				2.52		%
Expected dividend yield			—						—						—						—
Expected life – in years			6						6						6						6

Schedule of Option Activity

A summary of the Company’s option activity as of September 30, 2023, which all occurred under the 2019 Plan and the 2021 Plan, and changes during the nine months then ended are as follows:

			Number of Options						Weighted-Average Exercise Price (per share)						Weighted-Average Remaining Contractual Term (in years)
Outstanding at December 31, 2022			6,865,265						$	4.82					7.68
Granted			2,568,239						9.17
Exercised			(997,964)						0.75
Forfeited			(261,364)						9.76
Outstanding at September 30, 2023			8,174,176						6.50						7.81
Options exercisable at September 30, 2023			4,278,634						3.35						6.60

Schedule of Restricted Stock Unit Activity

A summary of RSU activity under the Company’s 2021 Plan for the nine months ended September 30, 2023 is as follows:

						Number of Shares						Weighted-Average Grant Date Fair Value						Aggregate Fair Value
Unvested balance at January 1, 2023						1,269,743						$	11.97					$	15,194
Granted						1,908,880						8.83						16,855
Vested						(410,646)						12.03						4,940
Forfeited						(133,599)						13.14						1,755
Unvested balance as of September 30, 2023						2,634,378						$	9.83					$	25,896

Schedule of Performance Share Units Activity

A summary of PSU activity under the Company’s 2021 Plan for the nine months ended September 30, 2023 is as follows:

						Number of Shares						Weighted-Average Grant Date Fair Value						Aggregate Fair Value
Unvested balance at January 1, 2023						1,283,620						$	11.22					$	14,402
Granted						—						—						—
Vested						(5,226)						10.05						53
Forfeited						(200,668)						11.96						2,400
Unvested balance at September 30, 2023						1,077,726						$	11.61					$	12,512

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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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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 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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