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Stock-based Compensation (Tables)

12 Months Ended

Dec. 31, 2020

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Summary of Stock Option Activity

The following table summarizes stock option activity for the year ended December 31, 2020:

		Shares				Weighted Average Exercise Price				Weighted Average Remaining Contractual Life
Outstanding as of December 31, 2019			6,340,000			$	3.92				8.22
Granted			420,500				10.46
Exercised			(598,406	)			3.91
Forfeited / cancelled			(544,526	)			4.48
Outstanding as of December 31, 2020			5,617,568			$	4.35				7.33
Vested and exercisable as of December 31, 2019			2,684,160			$	3.58				7.41
Vested and exercisable as of December 31, 2020			3,449,606			$	3.83				6.74

Summary of Weighted Average Assumptions Used in Calculation of Fair Value Using Black-Scholes Option Pricing Model

The grant date fair value of stock options granted during the year ended December 31, 2020 was estimated at the time of grant using the Black-Scholes option-pricing model and utilized the following weighted average assumptions:

		Year Ended December 31, 2020
Fair value of common stock (per share)		$	10.46
Expected term (in years)		5.9 — 6.3
Risk-free interest rate		1.7%
Expected volatility		36.3% — 36.6%
Dividend yield		—%

Summary of Activity for Restricted Stock Units

The following table summarizes activity for restricted stock units (“RSUs”) for the year ended December 31, 2020:

		Shares				Weighted Average Grant Date Fair Value per Share
Unvested and outstanding as of December 31, 2019			408,000			$	4.01
Granted			2,073,006				12.06
Vested			(237,334	)			3.86
Forfeited / cancelled			(8,230	)			11.86
Unvested and outstanding as of December 31, 2020			2,235,442			$	11.46

Summary of RSAs Activity

The following table summarizes the activity related to the Company’s RSAs for the year ended December 31, 2020:

		Shares
Unvested at December 31, 2019			272,868
Vested			(272,868	)
Unvested at December 31, 2020			—

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Tabular disclosure of the changes in outstanding nonvested restricted stock units.

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