XML 43 R33.htm IDEA: XBRL DOCUMENT
v3.22.2.2

Equity Incentive Plans and Stock-Based Compensation (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2022
Share-Based Payment Arrangement [Abstract] |
Stock Option Plan Activity | Activity under the Company’s stock option plans is set forth below:
| Options |  | Weighted-Average Exercise Price |  | Weighted-Average Remaining Contractual Term in years
| (In thousands) |  | (Per share data) |  | (Years)
Outstanding as of December 31, 2020 | 21,471 |  |  | $ | 0.33 |  |  | 9.3
Granted | 1,024 |  |  | $ | 6.69 |  |  |
Exercised | (200) |  |  | $ | 1.56 |  |  |
Forfeited or expired | (951) |  |  | $ | 0.61 |  |  |
Outstanding as of September 30, 2021 | 21,344 |  |  | $ | 0.61 |  |  | 8.5
Options vested and expected to vest as of September 30, 2021 | 21,344 |  |  | $ | 0.61 |  |  |
Vested and exercisable as of September 30, 2021 | 7,776 |  |  | $ | 0.58 |  |  |
Outstanding as of December 31, 2021 | 21,191 |  |  | $ | 0.58 |  |  | 8.2
Granted | — |  |  | $ | — |  |  |
Exercised | (2,795) |  |  | $ | 0.42 |  |  |
Forfeited or expired | (665) |  |  | $ | 2.49 |  |  |
Outstanding as of September 30, 2022 | 17,731 |  |  | $ | 0.54 |  |  | 7.5
Options vested and expected to vest as of September 30, 2022 | 17,731 |  |  | $ | 0.54 |  |  |
Vested and exercisable as of September 30, 2022 | 10,145 |  |  | $ | 0.65 |  |  |
Weighted-Average Assumptions Used in Stock Options | The weighted-average assumptions in the Black-Scholes option-pricing model used to determine the fair value of stock options granted were as follows:
| Nine Months Ended September 30,
| 2021
Expected volatility | 59 | %
Risk-free interest rate | 0.9% -1.0%
Dividend yield | — | %
Expected term (in years) | 5.72
Schedule of Nonvested Restricted Stock Units Activity | The following table summarizes outstanding and expected to vest RSUs as of September 30, 2022 and their activity during the nine months ended September 30, 2022:
| Number of Shares |  | Weighted-Average Grant Date Fair Value |  | Aggregate Intrinsic Value
| (In thousands) |  | (Per share data) |  | (In thousands)
Balance as of December 31, 2021 | 4,041 |  |  | $ | 7.26 |  |  | $ | 31,563 |
Granted | 2,912 |  |  | 3.81 |  |  | 11,500 |
Released | (385) |  |  | 5.52 |  |  | 1,991 |
Cancelled | (370) |  |  | 6.42 |  |  | 1,503 |
Balance as of September 30, 2022 | 6,198 |  |  | $ | 5.80 |  |  | $ | 24,422 |
Expected to vest as of September 30, 2022 | 6,198 |  |  | $ | 5.80 |  |  | $ | 24,422 |
Schedule of Stock-Based Compensation Expense | The following sets forth the total stock-based compensation expense by type of award included in the statements of operations:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2022 |  | 2021 |  | 2022 |  | 2021
| (In thousands)
Restricted stock units | $ | 2,831 |  |  | $ | — |  |  | $ | 7,787 |  |  | $ | — |
Stock options | 415 |  |  | 676 |  |  | 1,473 |  |  | 1,751 |
Earnout shares - employees | 1,911 |  |  | — |  |  | 5,830 |  |  | — |
| $ | 5,157 |  |  | $ | 676 |  |  | $ | 15,090 |  |  | $ | 1,751 |
The following sets forth the total stock-based compensation expense for the stock options included in the statements of operations:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2022 |  | 2021 |  | 2022 |  | 2021
| (In thousands)
Research and development | $ | 2,407 |  |  | $ | 211 |  |  | $ | 7,485 |  |  | $ | 598 |
Selling and marketing | 1,144 |  |  | 105 |  |  | 3,399 |  |  | 280 |
General and administrative | 1,606 |  |  | 360 |  |  | 4,206 |  |  | 873 |
| $ | 5,157 |  |  | $ | 676 |  |  | $ | 15,090 |  |  | $ | 1,751 |

X
- References No definition available. + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(1) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the changes in outstanding nonvested restricted stock units. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(2) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfNonvestedRestrictedStockUnitsActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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 -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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 -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration