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Stock-based compensation (Tables)

9 Months Ended

Sep. 30, 2021

Stock-based compensation

Schedule of assumptions used to determine the grant-date fair value of stock options

The following table presents, on a weighted average basis, the assumptions used in the Black-Scholes option-pricing model to determine the grant-date fair value of stock options granted to employees and directors:

​	​	​	​	​	​	​	​	​	​	​
​	​	Three Months Ended September 30,				​	Nine Months Ended September 30,
​		2021		2020			2021		2020
Risk-free interest rate		0.96	%	0.34	%		0.90	%	0.36	%
Expected term (in years)		5.8		6.0	​		6.0		6.0	​
Expected volatility		43.7	%	90.4	%		51.5	%	90.3	%
Expected dividend yield		0	%	0	%		0	%	0	%

Schedule of stock option activity

The following table summarizes the Company’s stock option activity since December 31, 2020 (in thousands, except for share and per share data):

​	​	​	​	​	​	​	​	​	​	​
​	​	​	​	​		​	Weighted	​	​
​	​	​	​	Weighted		​	average	​	​
​	​	Number of	​	average		​	remaining	​	Aggregate
​		shares		exercise price			contractual term		intrinsic value
​	​	​	​	​	​	​	(in years)	​	​	​
Outstanding as of December 31, 2020		3,604,584	​	$	0.92		8.12	​	$	4,272
Granted		1,732,182	​		9.15	​	​	​	​	​
Exercised		(111,149)	​		2.67			​
Expired		(34,447)	​		1.00			​
Forfeited		(667,866)	​		2.12			​
Outstanding as of September 30, 2021		4,523,304	​	$	3.88		7.68	​	$	66,231
Options vested and expected to vest as of September 30, 2021		4,523,304	​	$	3.88		7.68	​	$	66,231
Options exercisable as of September 30, 2021		2,134,381	​	$	1.25		6.17	​	$	36,777

Schedule of restricted stock activity

The following table summarizes the Company’s restricted stock activity since December 31, 2020 (in thousands except for share and per share data):

​	​	​	​	​	​
​	​	​	​	Weighted
​	​	Number of	​	average
​		shares		fair value
​	​	​	​	(in years)
Unvested as of December 31, 2020	​	-	​	​	​
Granted	​	248,903	​	$	2.10
Vested	​	-	​	​	​
Forfeited	​	-	​	​	​
Unvested as of September 30, 2021	​	248,903	​	$	2.10

Schedule of stock-based compensation expense was classified in the consolidated statements of operations

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

​	​	​	​	​	​	​	​	​	​	​	​	​
​		Three Months Ended September 30,						Nine Months Ended September 30,
​		2021			2020			2021			2020
Cost of revenue	​	$	106	​	$	20	​	$	221	​	$	62
General and administrative	​		345	​		72	​		680	​		223
Sales and marketing	​		76	​		11	​		158	​		42
Research and development	​		57	​		12	​		106	​		34
Total stock-based compensation expense	​	$	584	​	$	115	​	$	1,165	​	$	361

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

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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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