Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation (Tables)

v3.23.3
Stock-Based Compensation (Tables)
 6 Months Ended
Jun. 30, 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 six months ended June 30, 2023 and 2022:
Six Months Ended June 30,
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 (875,780) 0.39 
Forfeited (20,468) 0.42 
Outstanding as of June 30, 2023
 22,340,997 1.05 
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 7,742,983  3.25 
Vested (2,447,672) 3.40 
Forfeited (345,516) 3.75 
Outstanding as of June 30, 2023
 12,451,740  $ 3.38 
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 (25,000) 2.65 
Outstanding as of June 30, 2023
 407,000  $ 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 June 30, Six Months Ended June 30,
2023   2022   2023   2022
Cost of revenue $ 184 $ 280 $ 329 $ 388
Research and development 1,238 931 2,075 1,479
Sales and marketing 2,508 2,344 4,506 3,828
General and administrative 2,759 1,506 4,822 3,293
Total stock-based compensation expense $ 6,689 $ 5,061 $ 11,732 $ 8,988