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Share Based Compensation (Tables)
12 Months Ended
Dec. 31, 2020
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Summary of Pre-tax Share-based Compensation Expense

Pre-tax share-based compensation expense reported in the Company’s statements of operations was (in thousands):

 

 

 

Year Ended December 31,

 

 

 

2020

 

 

2019

 

Research and development

 

$

589

 

 

$

33

 

Sales, marketing, general and administrative

 

 

3,120

 

 

 

137

 

Total

 

$

3,709

 

 

$

170

 

Summary of Stock Option Activity

Stock option activity during the year ended December 31, 2020, excluding the Bonus Option Program described above, was (in thousands, except weighted average exercise price and weighted average contractual life):

 

 

 

Number of

Options

 

 

Weighted

Average

Exercise

Price

 

 

Weighted

Average

Contractual

Life (Years)

 

 

Aggregate

Intrinsic

Value

 

Outstanding - December 31, 2019

 

 

1,916

 

 

$

1.72

 

 

 

7.6

 

 

$

 

Granted

 

 

828

 

 

 

2.81

 

 

 

 

 

 

 

Forfeited/canceled

 

 

(55

)

 

 

0.60

 

 

 

 

 

 

 

Exercised

 

 

(368

)

 

 

3.65

 

 

 

 

 

 

 

Outstanding ‑ December 31, 2020

 

 

2,321

 

 

$

1.82

 

 

 

7.4

 

 

$

42,580

 

Exercisable ‑ December 31, 2020

 

 

1,190

 

 

$

2.35

 

 

 

6.3

 

 

$

21,194

 

Summary of Weighted Average Assumptions

The fair value of each option grant prior was estimated on the grant date using the Black‑Scholes option pricing model with the following weighted average assumptions for the year ended December 31, 2020:

 

Risk‑free rate

 

 

0.34

%

Expected term (in years)

 

 

5.73

 

Expected dividend yield

 

—%

 

Expected volatility

 

 

77

%