Annual report [Section 13 and 15(d), not S-K Item 405]

Stock Based Compensation (Tables)

v3.25.1
Stock Based Compensation (Tables)
12 Months Ended
Dec. 31, 2024
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

 

 

Aggregate Intrinsic Value ('000)

 

 

 

 

 

 

 

 

(in years)

 

 

 

 

Options outstanding as of December 31, 2023

 

 

2,198,552

 

 

$

17.11

 

 

 

5.0

 

 

 

 

Granted

 

 

33,901

 

 

$

10.17

 

 

 

 

 

 

 

Exercised

 

 

(46,707

)

 

$

7.17

 

 

 

 

 

 

 

Forfeited, canceled, or expired

 

 

(207,189

)

 

$

21.94

 

 

 

 

 

 

 

Options outstanding as of December 31, 2024

 

 

1,978,557

 

 

$

16.72

 

 

 

4.5

 

 

$

2,619

 

Vested and expected to vest at December 31, 2024

 

 

1,978,557

 

 

$

16.72

 

 

 

4.5

 

 

$

2,619

 

Exercisable at December 31, 2024

 

 

1,937,993

 

 

$

16.70

 

 

 

4.4

 

 

$

2,487

 

 

Summary of Restricted Stock Units Activity

The following table summarizes RSU activity under the 2021 Plan:

 

 

 

 

Number of RSUs

 

 

Weighted Average Grant Date Fair Value per Share

 

Outstanding as of December 31, 2023

 

 

 

 

1,847,583

 

 

$

10.17

 

RSUs granted

 

 

 

 

3,403,896

 

 

$

11.00

 

RSUs vested

 

 

 

 

(1,444,087

)

 

$

10.74

 

RSUs forfeited

 

 

 

 

(1,030,236

)

 

$

11.69

 

Outstanding as of December 31, 2024

 

 

 

 

2,777,156

 

 

$

10.32

 

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:

 

 

Year Ended December 31,

 

 

 

2024

 

 

2023

 

Cost of revenue

 

$

389

 

 

$

197

 

Research and development

 

 

5,194

 

 

 

3,474

 

Sales and marketing

 

 

3,717

 

 

 

2,707

 

General and administrative

 

 

10,149

 

 

 

6,600

 

 

$

19,449

 

 

$

12,978

 

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,

 

2024

 

2023

Risk-free interest rate

 

4.3%

 

4.1%

Expected volatility factor

 

49.9%

 

51.8%

Expected option life

 

5.5 years

 

5.5 years

Expected dividend yield