Quarterly report pursuant to Section 13 or 15(d)

Stock Based Compensation (Tables)

v3.23.1
Stock Based Compensation (Tables)
 3 Months Ended
Mar. 31, 2023
Share-Based Payment Arrangement [Abstract]  
Schedule of fair value weighted-average assumptions
The following table presents, on a weighted average basis, the assumptions used in the Black-Scholes option-pricing model to determine the grant-date fair value of stock options granted during the three months ended March 31, 2023 and 2022:
Three Months Ended March 31,
2023 2022
Risk-free interest rate 4.2  % 1.6  %
Expected term (in years) 6.1 6.1
Expected volatility 87.5  % 75.0  %
Expected dividend yield 0.0  % 0.0  %
Summary of stock option activity
The following table summarizes the Company’s stock option activity since December 31, 2022 (in thousands, except for share and per share data):
Number of
Shares		 Weighted
Average
Exercise Price
Outstanding as of December 31, 2022
 20,396,824 $ 0.73 
Granted 2,840,421 3.12 
Exercised (100,587) 0.33 
Forfeited —  — 
Outstanding as of March 31, 2023
 23,136,658 1.03 
Summary of restricted stock unit activity
The following table summarizes the Company's restricted stock units activity since December 31, 2022:
Number of
Shares		 Grant Date Fair
Value
Outstanding as of December 31, 2022
 7,501,945  $ 3.54 
Granted 6,491,541  3.10 
Vested (1,409,257) 3.54 
Forfeited (188,696) 3.95 
Outstanding as of March 31, 2023
 12,395,533  $ 3.30 
Summary of performance stock unit activity
The following table summarizes the Company's performance stock units activity since December 31, 2022:
Number of
Shares		 Grant Date Fair
Value
Outstanding as of December 31, 2022
 864,000  $ 2.65 
Granted —  — 
Vested (432,000) 2.65 
Forfeited (17,500) 2.65 
Outstanding as of March 31, 2023
 414,500  $ 2.65 
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,
2023   2022
Cost of revenue $ 145 $ 108
Research and development 837 548
Sales and marketing 1,998 1,484
General and administrative 2,063 1,787
Total stock-based compensation expense $ 5,043 $ 3,927