Annual report pursuant to Section 13 and 15(d)

Stock Based Compensation (Tables)

v3.22.1
Stock Based Compensation (Tables)
12 Months Ended
Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Schedule of fair value weighted-average assumptions

Year Ended December 31, 

 

    

2021

    

2020

 

Risk-free interest rate

 

0.7

%

0.4

%

Expected term (in years)

 

6.0

5.7

Expected volatility

 

31.4

%

31.4

%

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):

    

    

    

Weighted

    

Weighted

Average

Number of

Average

Remaining

Aggregate

Shares

Exercise Price

Contractual Term

Intrinsic Value

(in years)

Outstanding as of December 31, 2020

18,770,767

$

0.36

Granted

 

6,472,725

 

0.42

 

 

Exercised

 

(2,806,961)

 

0.33

 

Exercised upon settlement of related party note

(1,469,366)

0.24

Forfeited

(198,035)

 

0.37

 

 

Outstanding as of December 31, 2021

 

20,769,130

0.39

 

8.00

$

84,430

 

  

 

  

 

  

 

  

Vested and expected to vest as of December 31, 2021

 

20,769,130

$

0.39

 

8.00

$

84,430

Options exercisable as of December 31, 2021

 

10,849,885

$

0.37

 

7.33

$

44,353

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 consolidated statements of operations and comprehensive loss as follows (in thousands):

Year Ended December 31, 

2021

    

2020

Cost of revenue

$

58

$

10

Sales and marketing

 

4,682

 

104

General and administrative

 

2,840

 

370

Research and development

 

931

 

178

Total stock-based compensation expense

$

8,511

$

662

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):

Year Ended December 31, 

2021

2020

Stock options

$

644

$

662

Earn-out shares

4,338

Warrants

2,165

Restricted stock units

1,364

Total stock-based compensation expense

$

8,511

$

662

Unvested restricted stock units  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Summary of stock option activity

Number of

Grant Date Fair

Shares

Value

Outstanding as of December 31, 2020

Granted

 

2,013,110

 

$

6.76

Vested

 

(2,625)

 

7.01

Canceled

 

(58,561)

 

7.01

Outstanding as of December 31, 2021

 

1,951,924

$

6.76