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STOCK-BASED COMPENSATION (Tables) | 12 Months Ended
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Dec. 31, 2021
Share-based Payment Arrangement [Abstract] |
Share-based Payment Arrangement, Option, Activity | A summary of the status of the 2015 Plan and the 2021 Plan as of December 31, 2021 and 2020, and changes during the years then ended is presented below:
| Options Outstanding
| Number of Options |  | Weighted-Average Exercise Price |  | Weighted-Average Remaining Contractual Term (In Years) |  | Aggregate Intrinsic Value (In Thousands)
Outstanding at December 31, 2020 | 15,611,571 |  |  | $ | 2.75 |  |  | 7.74 |  | $ | 26,879 |
Granted | 5,037,018 |  |  | 7.18 |  |  |  |  |
Exercised | (3,274,745) |  |  | 1.67 |  |  |  |  | 33,991
Forfeited | (898,899) |  |  | 4.30 |  |  |  |  |
Cancelled | (104,272) |  |  | 4.06 |  |  |  |  |
Outstanding at December 31, 2021 | 16,370,673 |  |  | $ | 4.23 |  |  | 7.70 |  | $ | 177,593 |
Vested and exercisable at December 31, 2021 | 7,607,376 |  |  | 2.35 |  |  | 6.61 |  | 97,271 |
Amount expected to vest at December 31, 2021 | 8,763,297 |  |  | $ | 5.87 |  |  | 8.69 |  | $ | 80,322 |
Schedule of Stock-based Compensation Expense | Stock-based compensation expense, included in selling, general, and administrative expense in the consolidated statements of operations and comprehensive loss, for the years ended December 31, 2021, 2020, and 2019, was comprised of the following:
(in thousands) | December 31, 2021 |  | December 31, 2020 |  | December 31, 2019
Employee and non-employee stock options | $ | 9,409 |  |  | $ | 6,594 |  |  | $ | 4,133 |
Restricted stock awards relating to founder shares | — |  |  | — |  |  | 113 |
ESPP | 128 |  |  | — |  |  | — |
RSUs | 207 |  |  | — |  |  | — |
| $ | 9,744 |  |  | $ | 6,594 |  |  | $ | 4,246 |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions | The following weighted average assumptions were used for issuances during the years ended December 31, 2021, 2020, and 2019, for employees and non-employees: Employees and non-employees—
| December 31, 2021 |  | December 31, 2020 |  | December 31, 2019
Risk-free interest rate | 0.98 | % |  | 0.97 | % |  | 1.69 | %
Dividend yield | — |  |  | — |  |  | — |
Volatility | 51.43 | % |  | 49.49 | % |  | 46.63 | %
Expected lives (years) | 6.1 |  | 6.0 |  | 6.6
Fair value of common stock | $ | 7.95 |  |  | $ | 4.98 |  |  | $ | 5.17 |
Schedule of Share-based Payment Award, Employee Stock Purchase Plan, Valuation Assumptions | The following table summarizes the weighted-average assumptions used in estimating the fair value of the 2021 ESPP grants for the initial offering period using the Black Scholes option-pricing model:
| December 31, 2021
Risk-free interest rate | 1.63 | %
Dividend yield | — |
Volatility | 63.00 | %
Expected lives (years) | 0.6
Fair value of common stock | $ | 21.04 |
Share-based Payment Arrangement, Restricted Stock Unit, Activity | RSU activity during the year ended December 31, 2021 was as follows:
| Number of Shares |  | Weighted-Average Grant Date Fair Value per Share
Unvested at December 31, 2020 | — |  |  | $ | — |
Granted | 165,333 |  |  | 22.39 |
Vested | (204) |  |  | 24.40 |
Forfeited | (4,902) |  |  | 24.40 |
Cancelled | — |  |  | — |
Unvested at December 31, 2021 | 160,227 |  |  | $ | 22.33 |

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- 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 http://asc.fasb.org/extlink&oid=120381028&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 http://asc.fasb.org/extlink&oid=120381028&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 http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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- 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 http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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