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Stock Based Compensation (Tables) | 6 Months Ended
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Jun. 30, 2023
Share-Based Payment Arrangement [Abstract] |
Schedule of fair value of the sole stock option grants | The following assumptions were used to compute the fair value of the stock option grants during the period ended June 30, 2023 and 2022:
| Period Ended June 30,
| 2023 |  | 2022
Risk-free interest rate | 4.14 | % |  | 0.71 | %
Expected term (in years) | 6.25 |  | 4
Volatility | 56 | % |  | 60 | %
Dividend yield | 0 | % |  | 0 | %
Schedule of company’s stock option activity | The following table summarizes the Company’s stock option activity under the Plan for the period ended June 30, 2023:
| Options Shares |  | Weighted Average Exercise Price |  | Weighted Average Remaining Contractual Life in Years |  | Aggregate Intrinsic Value
Balance as of, December 31, 2022 | 11,571,308 |  | $ | 7.11 |  |  | 9.05 |  | $ | 39,389,063 |
Granted/ Vested during the year | 312,730 |  |  | 8.61 |  |  | — |  |  | — |
Exercised during the year | (356,511) |  |  | 2.74 |  |  | — |  |  | — |
Cancelled during the year | (275,135) |  |  | 7.82 |  |  | — |  |  | — |
Balance as of June 30, 2023 | 11,252,392 |  |  | 7.28 |  |  | 8.62 |  | 46,592,930 |
Options vested and exercisable at June 30, 2023 | 3,005,069 |  |  | $ | 6.36 |  |  | 7.89 |  | 9,093,754 |
Share-Based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity | Activity under RSUs was as follows:
| RSUs |  | Weighted- Average Grant Date Fair Value Per RSU
Balance as of, December 31, 2022 | 305,587 |  | $ | 8.35 |
Granted | 101,358 |  | 7.64 |
Vested during the year | (136,258) |  | 8.02 |
Forfeited | — |  | — |
Balance as of, June 30, 2023 | 270,687 |  | 8.25 |
Vested and unissued at June 30, 2023 | 192,500 |  | 8.25 |
Non-vested at June 30, 2023 | 270,687 |  | 8.25 |

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- 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 -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (e) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
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- 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 -Topic 718 -SubTopic 10 -Subparagraph (f)(2) -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
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- Definition Disclosure of the number and weighted-average grant date fair value for restricted stock and restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock and restricted stock units that were granted, vested, or forfeited during the year. + References No definition available. + Details
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