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Stock compensation and other employee benefit plans (Tables)

12 Months Ended

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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