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Stock compensation and other employee benefit plans (Tables) | 12 Months Ended
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Dec. 31, 2021
Share-based Payment Arrangement [Abstract] |
Schedule of Stock compensation expense | Stock compensation expense for each period was as follows:
(in thousands) |  | 2021 |  |  | 2020 |  |  | 2019 |
Cost of revenue |  | $ | 8,094 |  |  | $ | 322 |  |  | $ | 176 |
Research and development |  |  | 3,657 |  |  |  | 57 |  |  |  | 51 |
Selling and marketing |  |  | 2,056 |  |  |  | 38 |  |  |  | 26 |
General and administrative |  |  | 47,958 |  |  |  | 1,401 |  |  |  | 653 |
Total stock compensation expense |  | $ | 61,765 |  |  | $ | 1,818 |  |  | $ | 906 |
Summary of outstanding option awards activity | Information relating to our outstanding option awards was as follows:
Options |  | Shares |  |  | Weighted-average exercise price |  |  | Weighted-average remaining contractual term (in years) |  |  | Average intrinsic value (in thousands) |
Outstanding as of December 31, 2020 |  |  | 8,524,997 |  |  | $ | 0.23 |  |  |  |  |  |  |
Granted |  |  | 2,107,500 |  |  |  | 8.14 |  |  |  |  |  |  |
Exercised |  |  | (2,838,464 | ) |  |  | 0.11 |  |  |  |  |  |  |
Forfeited and expired |  |  | (255,768 | ) |  |  | 0.48 |  |  |  |  |  |  |
Outstanding as of December 31, 2021 |  |  | 7,538,265 |  |  | $ | 2.48 |  |  |  | 7.41 |  |  | $ | 39,500 |
Vested at December 31, 2021 or expected to vest in the future |  |  | 7,538,265 |  |  | $ | 2.48 |  |  |  | 7.41 |  |  | $ | 39,500 |
Exercisable at December 31, 2021 |  |  | 4,253,458 |  |  | $ | 0.24 |  |  |  | 6.23 |  |  | $ | 31,139 |
At December 31, 2021: |  |  |  |  |  |  |  |  |  |  |  |
Stock-based compensation cost not yet recognized (in thousands) |  |  |  |  |  |  |  |  |  |  | $ | 10,301 |
Weighted-average remaining expense recognition period (in years) |  |  |  |  |  |  |  |  |  |  |  | 5.03 |
Summary of option awards Activity | Assumptions used to value option awards were as follows:
|  | Year ended December 31, |
|  | 2021 |  |  | 2020 |  |  | 2019 |
Black-Scholes-Merton pricing formula weighted-average assumptions: |  |  |  |  |  |  |  |  |
Expected life (in years) |  |  | 7.72 |  |  |  | 6.07 |  |  |  | 5.92 |
Risk-free interest rate |  | 1.32% |  |  | 1.60% |  |  | 1.94% |
Volatility |  | 56.47% |  |  | 51.57% |  |  | 52.90% |
Dividend yield |  | 0.00% |  |  | 0.00% |  |  | 0.00% |
Valuations: |  |  |  |  |  |  |  |  |
Grant-date fair value per option (post-split) |  | $ | 4.79 |  |  | $ | 2.86 |  |  | $ | 1.29 |
Intrinsic value of options exercised (in thousands) |  | $ | 22,852 |  |  | $ | — |  |  | $ | — |
Average intrinsic value per share of options exercised |  | $ | 8.05 |  |  | $ | — |  |  | $ | — |
Summary of outstanding restricted stock unit and restricted stock awards | Information relating to our outstanding restricted stock unit and restricted stock awards was as follows:
|  | Shares |  |  | Weighted-average grant date fair value |
Restricted stock units: |  |  |  |  |  |
Nonvested as of December 31, 2020 |  |  | 12,943,811 |  |  | $ | 3.15 |
Granted |  |  | 5,470,137 |  |  |  | 7.72 |
Vested |  |  | (12,883,918 | ) |  |  | 3.87 |
Forfeited |  |  | (388,561 | ) |  |  | 4.68 |
Nonvested as of December 31, 2021 |  |  | 5,141,469 |  |  | $ | 6.08 |
Restricted stock awards: |  |  |  |  |  |
Nonvested as of December 31, 2020 |  |  | 1,169,601 |  |  | $ | 0.07 |
Granted |  |  | — |  |  |  | — |
Vested |  |  | (1,169,601 | ) |  |  | 0.07 |
Forfeited |  |  | — |  |  |  | — |
Nonvested as of December 31, 2021 |  |  | — |  |  | $ | — |
At December 31, 2021: |  |  |  |  |  |
Stock-based compensation cost not yet recognized (in thousands) |  |  |  |  | $ | 21,396 |
Weighted-average remaining expense recognition period (in years) |  |  |  |  |  | 2.95 |

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