Stock Based Compensation (Tables)
|
3 Months Ended |
Mar. 31, 2022 |
|---|
| Stock-Based Compensation |
|
| Schedule of fair value weighted-average assumptions |
|
|
|
|
|
|
|
|
Three Months Ended March 31, |
|
|
|
2022 |
|
2021 |
|
Risk-free interest rate |
|
1.6 |
% |
0.5 |
% |
Expected term (in years) |
|
6.1 |
|
4.6 |
|
Expected volatility |
|
75.0 |
% |
23.9 |
% |
Expected dividend yield |
|
0.0 |
% |
0.0 |
% |
|
| Summary of stock option activity |
The following tables summarize the Company’s stock option activity since December 31, 2021 (in thousands, except for share and per share data):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted |
|
|
|
|
|
|
|
Weighted |
|
Average |
|
|
|
|
|
Number of |
|
Average |
|
Remaining |
|
Aggregate |
|
|
Shares |
|
Exercise Price |
|
Contractual Term |
|
Intrinsic Value |
|
|
|
|
|
|
|
(in years) |
|
|
|
Outstanding as of December 31, 2021 |
|
20,769,130 |
|
$ |
0.39 |
|
|
|
|
|
Granted |
|
2,262,925 |
|
|
2.32 |
|
|
|
|
|
Exercised |
|
(499,767) |
|
|
0.42 |
|
|
|
|
|
Forfeited |
|
(567,979) |
|
|
0.42 |
|
|
|
|
|
Outstanding as of March 31, 2022 |
|
21,964,309 |
|
|
0.59 |
|
7.70 |
|
$ |
45,207 |
|
|
|
|
|
|
|
|
|
|
|
Vested and expected to vest as of March 31, 2022 |
|
21,964,309 |
|
$ |
0.59 |
|
7.70 |
|
$ |
45,207 |
Options exercisable as of March 31, 2022 |
|
12,025,749 |
|
$ |
0.38 |
|
6.77 |
|
$ |
27,356 |
|
| Summary of restricted stock units activity |
|
|
|
|
|
|
|
|
Number of |
|
Grant Date Fair |
|
|
Shares |
|
Value |
|
|
|
|
|
|
Outstanding as of December 31, 2021 |
|
1,951,924 |
|
$ |
6.76 |
Granted |
|
4,425,142 |
|
|
3.50 |
Vested |
|
(80,044) |
|
|
7.95 |
Canceled |
|
(46,020) |
|
|
5.92 |
Outstanding as of March 31, 2022 |
|
6,251,002 |
|
$ |
4.44 |
|
| Summary of performance stock units activity |
|
|
|
|
|
|
|
|
Number of |
|
Grant Date Fair |
|
|
Shares |
|
Value |
|
|
|
|
|
|
Outstanding as of December 31, 2021 |
|
— |
|
$ |
— |
Granted |
|
934,000 |
|
|
2.65 |
Vested |
|
— |
|
|
— |
Canceled |
|
— |
|
|
— |
Outstanding as of March 31, 2022 |
|
934,000 |
|
$ |
2.65 |
|
| Schedule of fair value measurements of common stock warrants granted |
|
|
|
|
Warrants - Black Scholes |
|
|
|
Risk-free interest rate |
|
0.4 |
% |
Expected term (in years) |
|
3.00 |
|
Expected volatility |
|
23.9 |
% |
Expected dividend yield |
|
0.0 |
% |
|
| Schedule of allocation of share based compensation expense |
Stock-based compensation expense was classified in the condensed consolidated statements of operations and comprehensive loss as follows (in thousands):
|
|
|
|
|
|
|
|
|
Three Months Ended March 31, |
|
|
2022 |
|
2021 |
Cost of revenue |
|
$ |
60 |
|
$ |
5 |
Sales and marketing |
|
|
2,770 |
|
|
933 |
General and administrative |
|
|
1,787 |
|
|
94 |
Research and development |
|
|
573 |
|
|
50 |
Total stock-based compensation expense |
|
$ |
5,190 |
|
$ |
1,082 |
|
| Schedule of stock-based compensation expense |
Stock-based compensation expense was classified by award type in the condensed consolidated statements of operations and comprehensive loss as follows (in thousands):
|
|
|
|
|
|
|
|
|
|
Three Months Ended March 31, |
|
|
2022 |
|
2021 |
Stock options |
|
$ |
242 |
|
$ |
203 |
Earn-out shares |
|
|
2,699 |
|
|
— |
Warrants |
|
|
436 |
|
|
807 |
Restricted stock units |
|
|
1,813 |
|
|
72 |
Total stock-based compensation expense |
|
$ |
5,190 |
|
$ |
1,082 |
|