Stock Based Compensation (Tables)
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3 Months Ended |
11 Months Ended |
12 Months Ended |
Mar. 31, 2021 |
Dec. 31, 2020 |
Dec. 31, 2020 |
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] |
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| Schedule of fair value measurements of common stock warrants granted |
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As of
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As of
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March 31,
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December 31,
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2021
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2020
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Private Warrants:
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Term (in years)
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5.0
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5.0
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Volatility – pre announcement
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10.0
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%
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10.0
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%
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Volatility – post announcement
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22
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%
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30
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%
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Risk-free rate
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1.04
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%
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0.469
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%
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Fair value of warrants
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$
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1.73
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$
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1.52
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Public Warrants:
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Simulated warrant value
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$
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1.49
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Publicly-traded value
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$
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1.49
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Quoted
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Significant
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Significant
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Prices
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Other
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Other
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in Active
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Observable
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Unobservable
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December 31,
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Markets
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Inputs
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Inputs
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Description
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2020
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(Level 1)
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(Level 2)
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(Level 3)
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Warrant Liabilities:
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Public Warrants
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$
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12,851,000
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$
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—
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$
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—
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$
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12,851,000
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Private Placement Warrants
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$
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8,668,000
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$
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—
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$
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—
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$
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8,668,000
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Warrant liability at December 31, 2020
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$
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21,519,000
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$
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21,519,000
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Quoted
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Significant
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Significant
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Prices
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Other
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Other
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in Active
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Observable
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Unobservable
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September 30,
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Markets
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Inputs
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Inputs
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Description
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2020
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(Level 1)
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(Level 2)
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(Level 3)
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Warrant Liabilities:
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Public Warrants
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$
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5,705,000
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$
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—
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$
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—
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$
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5,705,000
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Private Placement Warrants
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$
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3,763,000
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$
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—
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$
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—
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$
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3,763,000
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Warrant liability at September 30, 2020
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$
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9,468,000
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$
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9,468,000
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| Evolv Technologies Holdings Inc [Member] |
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| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] |
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| Schedule of fair value weighted-average assumptions |
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Three Months Ended
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March 31,
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2021
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2020
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Risk-free interest rate
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0.5
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%
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N/A
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Expected term (in years)
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4.58
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N/A
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Expected volatility
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23.9
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%
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N/A
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Expected dividend yield
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0.0
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%
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N/A
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Year Ended December 31,
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2020
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2019
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Risk-free interest rate
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0.4
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%
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2.5
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%
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Expected term (in years)
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5.68
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5.95
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Expected volatility
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31.4
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%
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27.9
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%
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Expected dividend yield
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0.0
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%
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0.0
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%
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| Summary of stock option activity |
The following tables summarize the Company’s stock option and restricted stock units, (“RSUs”), activity since December 31, 2020 (in thousands, except for share and per share data):
Stock Options
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Weighted
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Weighted
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Average
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Average
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Remaining
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Aggregate
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Number of
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Exercise
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Contractual
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Intrinsic
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Shares
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Price
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Term
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Value
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Outstanding as of December 31, 2020
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49,679,554
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$
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0.14
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8.24
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$
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1,073
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Granted
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17,130,123
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0.16
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9.78
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49,335
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Exercised
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4,137,451
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0.11
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6.72
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12,123
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Forfeited
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75,000
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0.16
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—
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216
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Outstanding as of March 31, 2021
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62,597,226
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$
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0.15
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8.60
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$
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169,734
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Vested and expected to vest as of March 31, 2021
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62,597,226
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$
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0.15
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8.60
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$
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169,734
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Options exercisable as of March 31, 2021
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22,901,452
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$
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0.13
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7.36
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$
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66,545
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The following table summarizes the Company’s stock option activity since December 31, 2019 (in thousands, except for share and per share data):
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Weighted
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Weighted
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Average
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Number of
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Average
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Remaining
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Aggregate
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Shares
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Exercise Price
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Contractual Term
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Intrinsic Value
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(in years)
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Outstanding as of December 31, 2019
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29,488,684
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$
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0.12
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7.90
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$
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1,149
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Granted
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24,558,325
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0.16
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9.63
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—
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Exercised
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(3,236,374)
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0.14
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6.60
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75
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Forfeited
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(1,131,081)
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0.15
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—
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14
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Outstanding as of December 31, 2020
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49,679,554
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$
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0.14
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8.24
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$
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1,073
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Vested and expected to vest as of December 31, 2019
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29,488,684
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$
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0.12
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7.90
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$
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1,149
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Options exercisable as of December 31, 2019
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15,663,415
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$
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0.11
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7.28
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$
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817
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Vested and expected to vest as of December 31, 2020
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49,679,554
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$
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0.14
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8.24
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$
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1,073
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Options exercisable as of December 31, 2020
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26,519,727
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$
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0.12
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7.12
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$
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1,224
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| Schedule of fair value measurements of common stock warrants granted |
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Risk-free interest rate
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0.4
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%
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Expected term (in years)
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3.0
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Expected volatility
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23.9
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%
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Expected dividend yield
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0.0
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%
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| Schedule of allocation of share based compensation expense |
Stock-based compensation expense was classified in the consolidated statements of operations and comprehensive loss as follows (in thousands):
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Three Months Ended
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March 31,
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2021
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2020
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Cost of revenue
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$
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5
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$
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2
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Sales and marketing
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933
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21
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General and administrative
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94
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19
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Research and development
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50
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20
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Total stock-based compensation expense
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$
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1,082
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$
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62
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| Schedule of stock-based compensation expense |
Stock-based compensation expense was classified by award type in the consolidated statements of operations and comprehensive loss as follows (in thousands):
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Three Months Ended
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March 31,
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2021
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2020
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Stock options
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$
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203
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$
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62
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Warrants
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807
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—
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Restricted stock units
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72
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—
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Total stock-based compensation expense
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$
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1,082
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$
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62
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Stock-based compensation expense was classified in the consolidated statements of operations and comprehensive loss as follows (in thousands):
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Year Ended December 31,
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2020
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2019
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Cost of revenue
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$
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10
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$
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2
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Sales and marketing
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104
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170
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General and administrative
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370
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74
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Research and development
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178
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18
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Total stock-based compensation expense
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$
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662
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$
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264
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| Evolv Technologies Holdings Inc [Member] | Restricted stock units |
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| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] |
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| Summary of stock option activity |
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Number of
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Grant Date
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Shares
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Fair Value
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Outstanding as of December 31, 2020
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—
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—
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Granted
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765,000
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$
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3.04
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Vested
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—
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—
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Cancelled
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—
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—
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Outstanding as of March 31, 2021
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765,000
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$
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3.04
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