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Stock-Based Awards (Tables)
12 Months Ended
Dec. 31, 2021
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Summary of Stock Option Activity

The following summarizes stock option activity during the years ended December 31, 2021, 2020 and 2019:

 

 

Options
Issued
Under Plan
 
(in thousands)

 

 

Nonemployee
Options
 
(in thousands)

 

 

Total
Options
 
(in thousands)

 

 

Weighted-
Average
Exercise Price
Per Share

 

 

Weighted-Average
Remaining
Contractual
Term
(in years)

 

 

Aggregate
Intrinsic
Value
(in thousands)

 

Outstanding as of December 31, 2018

 

 

3,947

 

 

 

68

 

 

 

4,015

 

 

$

2.81

 

 

 

8.84

 

 

$

22,106

 

Retroactive conversion of shares due to Business Combination

 

 

25,786

 

 

 

446

 

 

 

26,232

 

 

 

(2.44

)

 

 

 

 

 

 

Outstanding as of December 31, 2018, as converted

 

 

29,733

 

 

 

514

 

 

 

30,247

 

 

 

0.37

 

 

 

8.84

 

 

 

22,106

 

Granted

 

 

3,337

 

 

 

38

 

 

 

3,375

 

 

 

1.24

 

 

 

 

 

 

 

Exercised

 

 

(576

)

 

 

 

 

 

(576

)

 

 

0.29

 

 

 

 

 

 

 

Forfeited

 

 

(9,377

)

 

 

 

 

 

(9,377

)

 

 

0.25

 

 

 

 

 

 

 

Outstanding as of December 31, 2019

 

 

23,117

 

 

 

552

 

 

 

23,669

 

 

 

0.55

 

 

 

7.71

 

 

 

16,275

 

Granted

 

 

4,294

 

 

 

964

 

 

 

5,258

 

 

 

1.22

 

 

 

 

 

 

 

Exercised

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Forfeited

 

 

(1,336

)

 

 

 

 

 

(1,336

)

 

 

0.54

 

 

 

 

 

 

 

Outstanding as of December 31, 2020

 

 

26,075

 

 

 

1,516

 

 

 

27,591

 

 

 

0.68

 

 

 

7.40

 

 

 

14,619

 

Granted

 

 

1,559

 

 

 

 

 

 

1,559

 

 

 

1.22

 

 

 

 

 

 

 

Exercised

 

 

(1,947

)

 

 

(543

)

 

 

(2,490

)

 

 

0.36

 

 

 

 

 

 

 

Forfeited

 

 

(526

)

 

 

(558

)

 

 

(1,084

)

 

 

0.85

 

 

 

 

 

 

 

Outstanding as of December 31, 2021

 

 

25,161

 

 

 

415

 

 

 

25,576

 

 

 

0.73

 

 

 

6.82

 

 

 

137,170

 

Exercisable as of December 31, 2021

 

 

 

 

 

 

 

 

19,065

 

 

 

0.62

 

 

 

6.31

 

 

 

86,526

 

Vested and expected to vest as of December 31, 2021

 

 

 

 

 

 

 

 

25,576

 

 

 

0.73

 

 

 

6.82

 

 

 

137,170

 

Schedule Of assumptions used in the Black-Scholes Model for options granted The range of assumptions used in the Black-Scholes Model for options granted during 2021 prior to the Business Combination are as follows:

 

 

2021 Range

 

Expected term (in years)

 

5.97 - 6.10

 

Risk-free interest rate

 

0.64% - 0.67%

 

Expected volatility

 

52.5% - 52.7%

 

Dividend yield

 

 

 

Fair value on grant date

 

$4.49 - $4.55

 

Summary of Restricted Stock Activity

The following summarizes RSU award activity during the year ended December 31, 2021:

 

Number of
RSUs
(in thousands)

 

Weighted
Average
Grant Date
Fair Value

 

Outstanding as of December 31, 2020

 

 

$

 

Granted

 

203

 

 

7.88

 

Vested and settled

 

 

 

 

Forfeited

 

 

 

 

Outstanding as of December 31, 2021

 

203

 

 

7.88