Stock Based Compensation (Tables)
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6 Months Ended |
11 Months Ended |
12 Months Ended |
Jun. 30, 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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June 30, |
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December 31, |
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Private Warrants: |
|
2021) |
|
2020 |
|
Term (in years) |
|
|
5.0 |
|
|
5.0 |
|
Volatility – post announcement |
|
|
24.1 |
% |
|
30 |
% |
Risk-free rate |
|
|
0.87 |
% |
|
0.47 |
% |
Fair value of warrants |
|
$ |
1.79 |
|
$ |
1.52 |
|
Public Warrants: |
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|
|
|
|
|
|
Simulated warrant value |
|
$ |
1.73 |
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$ |
1.49 |
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Publicly-traded value |
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$ |
1.73 |
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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 |
Description |
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2020 |
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(Level 1) |
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(Level 2) |
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(Level 3) |
Warrant Liabilities: |
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Public Warrants |
|
$ |
12,851,000 |
|
$ |
— |
|
$ |
— |
|
$ |
12,851,000 |
Private Placement Warrants |
|
$ |
8,668,000 |
|
$ |
— |
|
$ |
— |
|
$ |
8,668,000 |
Warrant liability at December 31, 2020 |
|
$ |
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 |
|
Inputs |
Description |
|
2020 |
|
(Level 1) |
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(Level 2) |
|
(Level 3) |
Warrant Liabilities: |
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|
|
|
|
|
|
|
|
|
|
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Public Warrants |
|
$ |
5,705,000 |
|
$ |
— |
|
$ |
— |
|
$ |
5,705,000 |
Private Placement Warrants |
|
$ |
3,763,000 |
|
$ |
— |
|
$ |
— |
|
$ |
3,763,000 |
Warrant liability at September 30, 2020 |
|
$ |
9,468,000 |
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|
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|
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$ |
9,468,000 |
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| Evolv Technologies Holdings, Inc. |
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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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Six Months Ended |
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June 30, |
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2021 |
|
2020 |
Risk-free interest rate |
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0.7 |
% |
N/A |
Expected term (in years) |
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6.0 |
|
N/A |
Expected volatility |
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31.4 |
% |
N/A |
Expected dividend yield |
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0.0 |
% |
N/A |
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Year Ended December 31, |
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2020 |
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2019 |
|
Risk-free interest rate |
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0.4 |
% |
2.5 |
% |
Expected term (in years) |
|
5.68 |
|
5.95 |
|
Expected volatility |
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31.4 |
% |
27.9 |
% |
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, 2020 (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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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 |
Outstanding as of December 31, 2020 |
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49,679,554 |
|
$ |
0.14 |
|
8.24 |
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$ |
1,073 |
Granted |
|
17,130,123 |
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|
0.16 |
|
9.53 |
|
|
49,335 |
Exercised |
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(5,523,538) |
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|
0.12 |
|
5.43 |
|
|
16,132 |
Exercised upon settlement of related party note |
|
(3,888,889) |
|
|
0.09 |
|
7.21 |
|
|
272 |
Forfeited |
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(223,875) |
|
|
0.15 |
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— |
|
|
646 |
Outstanding as of June 30, 2021 |
|
57,173,375 |
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|
0.15 |
|
8.46 |
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$ |
165,295 |
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|
|
|
|
|
|
|
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Vested and expected to vest as of June 30, 2021 |
|
57,173,375 |
|
$ |
0.15 |
|
8.46 |
|
$ |
165,295 |
Options exercisable as of June 30, 2021 |
|
23,914,233 |
|
$ |
0.14 |
|
7.45 |
|
$ |
69,461 |
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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 |
|
$ |
0.12 |
|
7.90 |
|
$ |
1,149 |
Granted |
|
24,558,325 |
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|
0.16 |
|
9.63 |
|
|
— |
Exercised |
|
(3,236,374) |
|
|
0.14 |
|
6.60 |
|
|
75 |
Forfeited |
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(1,131,081) |
|
|
0.15 |
|
— |
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|
14 |
Outstanding as of December 31, 2020 |
|
49,679,554 |
|
$ |
0.14 |
|
8.24 |
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$ |
1,073 |
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Vested and expected to vest as of December 31, 2019 |
|
29,488,684 |
|
$ |
0.12 |
|
7.90 |
|
$ |
1,149 |
Options exercisable as of December 31, 2019 |
|
15,663,415 |
|
$ |
0.11 |
|
7.28 |
|
$ |
817 |
Vested and expected to vest as of December 31, 2020 |
|
49,679,554 |
|
$ |
0.14 |
|
8.24 |
|
$ |
1,073 |
Options exercisable as of December 31, 2020 |
|
26,519,727 |
|
$ |
0.12 |
|
7.12 |
|
$ |
1,224 |
|
| Schedule of fair value measurements of common stock warrants granted |
|
|
|
|
Risk-free interest rate |
|
0.4 |
% |
Expected term (in years) |
|
3.0 |
|
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 consolidated statements of operations and comprehensive loss as follows (in thousands):
|
|
|
|
|
|
|
|
|
|
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|
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|
Three Months Ended |
|
Six Months Ended |
|
|
June 30, |
|
June 30, |
|
|
2021 |
|
2020 |
|
2021 |
|
2020 |
2Cost of revenue |
|
$ |
5 |
|
$ |
2 |
|
$ |
10 |
|
$ |
4 |
Sales and marketing |
|
|
375 |
|
|
19 |
|
|
1,308 |
|
|
40 |
General and administrative |
|
|
102 |
|
|
19 |
|
|
196 |
|
|
38 |
Research and development |
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|
53 |
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|
20 |
|
|
103 |
|
|
40 |
Total stock-based compensation expense |
|
$ |
535 |
|
$ |
60 |
|
$ |
1,617 |
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$ |
122 |
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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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|
|
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Three Months Ended |
|
Six Months Ended |
|
|
June 30, |
|
June 30, |
|
|
2021 |
|
2020 |
|
2021 |
|
2020 |
Stock options |
|
$ |
264 |
|
$ |
60 |
|
$ |
467 |
|
$ |
122 |
Warrants |
|
|
197 |
|
|
— |
|
|
1,004 |
|
|
— |
RSU's |
|
|
74 |
|
|
— |
|
|
146 |
|
|
— |
Total stock-based compensation expense |
|
$ |
535 |
|
$ |
60 |
|
$ |
1,617 |
|
$ |
122 |
|
|
Stock-based compensation expense was classified in the consolidated statements of operations and comprehensive loss as follows (in thousands):
|
|
|
|
|
|
|
|
|
Year Ended December 31, |
|
|
2020 |
|
2019 |
Cost of revenue |
|
$ |
10 |
|
$ |
2 |
Sales and marketing |
|
|
104 |
|
|
170 |
General and administrative |
|
|
370 |
|
|
74 |
Research and development |
|
|
178 |
|
|
18 |
Total stock-based compensation expense |
|
$ |
662 |
|
$ |
264 |
|
| Evolv Technologies Holdings, Inc. | Unvested restricted stock units |
|
|
|
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] |
|
|
|
| Summary of stock option activity |
|
|
|
|
|
|
|
|
Number of |
|
Grant Date |
|
|
Shares |
|
Fair Value |
Outstanding as of December 31, 2020 |
|
— |
|
|
— |
Granted |
|
765,000 |
|
$ |
3.04 |
Vested |
|
— |
|
|
— |
Cancelled |
|
— |
|
|
— |
Outstanding as of June 30, 2021 |
|
765,000 |
|
$ |
3.04 |
|
|
|