Annual report pursuant to Section 13 and 15(d)

Stock Based Compensation (Tables)

v3.24.0.1
Stock Based Compensation (Tables)
12 Months Ended
Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]  
Summary of Stock Option Activity

The following table summarizes stock option activity under the Company's equity compensation plans:

 

 

Number of
Options

 

 

Weighted-
Average
Exercise
Price

 

 

Weighted-
Average
Remaining
Contractual
Term

 

 

 

 

 

 

 

 

(in years)

 

Options outstanding as of December 31, 2022

 

 

2,389,622

 

 

$

18.52

 

 

 

6.1

 

Granted

 

 

61,446

 

 

$

5.37

 

 

 

 

Exercised

 

 

(500

)

 

$

7.04

 

 

 

 

Forfeited, canceled, or expired

 

 

(252,016

)

 

$

27.62

 

 

 

 

Options outstanding as of December 31, 2023

 

 

2,198,552

 

 

$

17.11

 

 

 

5.0

 

Vested and expected to vest at December 31, 2023

 

 

2,198,552

 

 

$

17.11

 

 

 

5.0

 

Exercisable at December 31, 2023

 

 

1,901,002

 

 

$

16.91

 

 

 

4.6

 

Summary of Restricted Stock Units Activity

The following table summarizes stock RSU activity under the 2021 Plan:

 

 

 

 

 

Number of RSUs

 

 

Weighted Average Grant Date Fair Value per Share

 

Outstanding as of December 31, 2022

 

 

 

 

1,547,256

 

 

$

19.60

 

RSUs granted

 

 

 

 

1,447,101

 

 

$

5.60

 

RSUs vested

 

 

 

 

(781,557

)

 

$

17.97

 

RSUs forfeited

 

 

 

 

(365,217

)

 

$

15.70

 

Outstanding as of December 31, 2023

 

 

 

 

1,847,583

 

 

$

10.17

 

Schedule of Stock Based Compensation Expense Based on Roles and Responsibilities of Employees

The following table summarizes the components of total stock-based compensation expense based on roles and responsibilities of the employees within the consolidated statements of operations:

 

 

 

Years Ended December 31,

 

 

 

2023

 

 

2022

 

Cost of revenue

 

$

197

 

 

$

232

 

Research and development

 

 

3,474

 

 

 

3,154

 

Sales and marketing

 

 

2,707

 

 

 

2,822

 

General and administrative

 

 

6,600

 

 

 

5,283

 

 

$

12,978

 

 

$

11,491

 

Summary of Assumptions Used To Estimated Grant-Date Fair Value

The fair value of stock options was estimated using the following assumptions at the date of the grant:

 

 

 

Year Ended December 31,

 

2023

 

2022

Risk-free interest rate

 

4.1%

 

2.9%

Expected volatility factor

 

51.8%

 

58.3%

Expected option life

 

5.5 years

 

5.5 years

Expected dividend yield