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Stock-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2021

Stock-Based Compensation

Schedule of stock option activity

Stock option activity under the 2018 Plan is as follows:

​	​	​	​	​	​	​	​	​	​	​
​	​	​	​	​	​	​	Weighted-	​	​	​
​	​	​	​	​	​	​	Average	​	​	​
​	​	​	​	Weighted-		​	Remaining	​	Aggregate
​	​	​	​	Average		​	Contractual	​	Intrinsic
​	​	Number of	​	Exercise		​	Term	​	Value
​		Options		Price			(years)		(in thousands)
Balance – December 31, 2020		2,594,597	​	$	3.79		8.5	​	$	13,791
Granted(1)		965,944	​		10.52		​	​		​
Exercised	​	—	​	​	—	​	​	​	​	​
Forfeited		—	​		—		​	​		​
Cancelled		—	​		—		​	​		​
Balance – June 30, 2021		3,560,541	​	$	5.61		8.2	​	$	118,483
Exercisable – June 30, 2021		2,594,597	​	$	3.79		7.6	​	$	91,080
Vested and expected to vest – June 30, 2021	​	3,560,541	​	$	5.61	​	8.2	​	$	118,483

(1) The options granted during the period were not included in the number of options for which vesting was accelerated as part of the Business Combination.

Schedule of restricted stock unit activity

Restricted stock unit activity under the 2018 Plan is as follows:

​	​	​	​	​	​
​	​	​	​	Weighted-
​	​	​	​	Average
​	​	​	​	Grant Date
​	​	Number of	​	Fair Value
​		Awards		per Share
Unvested and outstanding balance at December 31, 2020		313,976	​	$	4.30
Granted		—	​		—
Vested		(313,976)	​		4.30
Forfeited		—	​		—
Unvested and outstanding balance at June 30, 2021		—	​	$	—

Schedule of assumptions used to determine fair value of options granted

We estimated the fair value of each option on the date of grant using the Black-Scholes option pricing model applying the weighted-average assumptions in the following table. There were no options granted during the three months ended June 30, 2021 and 2020.

​

​	​	​	​	​	​	​
​	​	Six Months Ended June 30,
​		2021			2020
Fair value of common stock	​	$	10.52	​	$	3.94 – $4.17
Expected term, in years	​		5.86	​		5.88 – 6.06
Expected volatility	​		47%	​		40%
Risk-free interest rate	​		0.57%	​		1.45% – 1.46%
Expected dividend yield	​		0%	​		0%

​

Schedule of allocated share-based compensation expense

Stock-based compensation expense under our equity incentive plans was as follows (in thousands):

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Three Months Ended June 30,

​

Six Months Ended June 30,

​

2021

2020

2021

​

2020

Cost of sales

​

$

—

​

$

5

​

$

—

​

$

10

Selling and administrative expenses

​

361

​

1,340

​

​

3,859

​

​

2,084

Total

​

$

361

​

$

1,345

​

$

3,859

​

$

2,094

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