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Stock-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2023

Share-Based Payment Arrangement [Abstract]

Disclosure of Share-based Compensation Arrangements by Share-based Payment Award

RSU activity for the three months ended March 31, 2023 was as follows:

			Shares						Weighted-average grant date fair value per share
Unvested balance as of December 31, 2022			3,716,061						$	6.60
Granted			989,283						$	5.97
Vested			(626,772)						$	6.87
Forfeited			(91,575)						$	5.61
Unvested balance as of March 31, 2023			3,986,997						$	6.42

Summary of Stock Option Activity

The following table summarizes the Black-Scholes option pricing model weighted-average assumptions used in estimating the fair value of stock options granted to employees during the three months ended March 31, 2022. No stock options were granted during the three months ended March 31, 2023.

			Three Months Ended March 31,
			2023						2022
Expected term (in years)			-						6.0
Expected volatility			—		%				49.0		%
Risk-free interest rate			—		%				1.20		%
Expected dividend yield			—		%				—		%

A summary of equity award activity under the Company’s equity plans and related information is as follows (in thousands, except share, price and year data):

			Shares available for grant						Outstanding stock options						Weighted- average exercise Price						Weighted- average remaining contractual life (years)						Aggregate intrinsic value
Balance as of December 31, 2022			1,836,566						12,371,281						$	5.74					6.07						$	32,385
Shares authorized			809,916
Options granted			—						—						—
Options exercised			—						(496,905)						1.69
Options cancelled			110,449						(110,449)						12.90
RSU award activity			(897,708)						—
Balance as of March 31, 2023			1,859,223						11,763,927						$	5.84					5.85						$	20,684
Vested and exercisable as of March 31, 2023									8,755,570						$	4.15					5.08						$	19,219

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions

			Three Months Ended March 31,
			2023						2022
Expected term (in years)			0.5 - 2.0						0.5 - 2.0
Expected volatility			45% - 68%						45% - 57%
Risk-free interest rate			0.10% - 4.75%						0.10% - 0.51%
Expected dividend yield			—		%				—		%

Share-based Payment Arrangement, Expensed and Capitalized, Amount

Stock-based compensation expense included in the condensed consolidated statements of operations was as follows (in thousands):

			Three Months Ended March 31,
			2023						2022
Cost of revenue			$	416					$	276
Research and development			2,133						1,555
Sales and marketing			2,152						1,134
General and administrative			1,127						870
Total stock-based compensation expense			$	5,828					$	3,835

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Tabular disclosure of share-based payment arrangement.

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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 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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