XML 51 R34.htm IDEA: XBRL DOCUMENT
v3.22.0.1

Stock-Based Compensation (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2021
Summary of Stock Options Activity | The following table summarizes the stock option activity under the stock incentive plans (in thousands, except share and per share data):
|  | Number of Shares |  |  | Weighted Average Exercise Price per Share |  |  | Weighted Average Remaining Contractual Term (in years) |  |  | Aggregate Intrinsic Value |
Outstanding at December 31, 2020 |  |  | 2,246,544 |  |  | $ | 0.95 |  |  |  | 9.41 |  |  | $ | 10,081 |
Granted |  |  | 644,817 |  |  | $ | 17.10 |  |  |  | — |  |  |  | — |
Exercised |  |  | (100 | ) |  | $ | 0.84 |  |  |  | — |  |  |  | — |
Cancelled or forfeited |  |  | (127,149 | ) |  | $ | 2.91 |  |  |  | — |  |  |  | — |
Outstanding at December 31, 2021 |  |  | 2,764,112 |  |  | $ | 4.63 |  |  |  | 8.69 |  |  | $ | 45,280 |
Exercisable at December 31, 2021 |  |  | 731,354 |  |  | $ | 0.90 |  |  |  | 8.51 |  |  | $ | 14,322 |
Vested and expected to vest at December 31, 2021 |  |  | 2,479,430 |  |  | $ | 5.11 |  |  |  | 8.88 |  |  | $ | 39,579 |
Schedule of Stock-Based Compensation Expense | Summary of Stock-Based Compensation Expense Stock-based compensation expense included in the accompanying financial statements was as follows (in thousands):
|  | For the Year Ended December 31, |
|  | 2021 |  |  | 2020 |
Cost of sales |  | $ | 7 |  |  | $ | — |
Research and development |  |  | 157 |  |  |  | — |
Sales and marketing |  |  | 66 |  |  |  | — |
General and administrative |  |  | 1,321 |  |  |  | 300 |
Total stock-based compensation expense |  | $ | 1,551 |  |  | $ | 300 |
Schedule of Weighted-Average Assumptions used in Black-Scholes Option-Pricing Model | The weighted average assumptions used in the Black-Scholes option-pricing model are as follows:
|  | For the Year Ended December 31,
|  | Employee Stock Option Plans |  |  | Employee Stock Purchase Plan
|  | 2021 |  |  | 2020 |  |  | 2021 |  |  | 2020
Estimated dividend yield |  | -% |  |  | -% |  |  | -% |  |  | N/A
Weighted-average expected stock price volatility |  |  | 33.51 | % |  |  | 36.13 | % |  |  | 25.47 | % |  | N/A
Weighted-average risk-free interest rate |  |  | 1.06 | % |  |  | 0.45 | % |  |  | 0.06 | % |  | N/A
Expected average term of options (in years) |  |  | 6.17 |  |  |  | 6.25 |  |  |  | 0.50 |  |  | N/A
Weighted-average fair value of common stock |  | $ | 19.89 |  |  | $ | 4.84 |  |  | $ | 24.63 |  |  | N/A
Weighted-average fair value per option |  | $ | 6.45 |  |  | $ | 3.15 |  |  | $ | 5.46 |  |  | N/A
N/A - Not applicable during the period

X
- Definition 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. + 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 (h)(1) -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 S99 -Paragraph 1 -Subparagraph (SAB Topic 14.F) -URI http://asc.fasb.org/extlink&oid=122041274&loc=d3e301413-122809 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5047-113901 + Details
Name: | us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration