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Stock-Based Compensation (Tables)

9 Months Ended

Sep. 30, 2021

Share-based Payment Arrangement [Abstract]

Schedule of Stock Option Activity

The following table summarizes the stock option activity under the 2013 Plan and 2021 Plan (in thousands except for per share amounts and years):

			Number of shares						Weighted- average exercise price per share						Weighted- average remaining contractual life (years)						Aggregate intrinsic value
Options outstanding as of December 31, 2020			3,305						$	3.86					7.21						22,952
Granted			537						18.70
Exercised			(641)						2.50
Forfeited and cancelled			(232)						7.04
Options outstanding as of September 30, 2021			2,969						$	6.59					6.94						122,763
Options vested and exercisable at September 30, 2021			1,886						$	3.08					5.97						84,618

Schedule of Black-Scholes Assumptions

The Black-Scholes assumptions used to value the employee options during the nine months ended September 30, 2021 are as follows:

Stock options:

Risk-free interest rate

0.8%

Weighted-average expected term of the options

6.25 years

Expected dividend rate

—  %

Expected volatility

53.8%

Fair value of common stock

$18.70

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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.

+ References

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (d)
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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.

+ 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)
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