Annual report pursuant to Section 13 and 15(d)

Stock Based Compensation (Tables)

v3.22.2.2
Stock Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2021
Share-Based Payment Arrangement [Abstract]  
Summary of Stock Option Activity

The following table summarizes stock option activity under the Plan:

 

 

 

Number of
Options

 

 

Weighted-
Average
Exercise
Price

 

 

Weighted-
Average
Remaining
Contractual
Term

 

 

 

 

 

 

 

 

 

(in years)

 

Options outstanding at December 31, 2020 (1)

 

 

19,444,178

 

 

$

1.78

 

 

 

7.9

 

Granted

 

 

4,909,367

 

 

$

4.88

 

 

 

 

Exercised

 

 

(923,200

)

 

$

1.40

 

 

 

 

Forfeited, canceled, or expired

 

 

(2,166,498

)

 

$

2.96

 

 

 

 

Options outstanding at December 31, 2021

 

 

21,263,847

 

 

$

2.40

 

 

 

7.2

 

Vested and expected to vest at December 31, 2021

 

 

21,263,847

 

 

$

2.40

 

 

 

7.2

 

Exercisable at December 31, 2021

 

 

12,651,086

 

 

$

1.91

 

 

 

6.3

 

(1) These amounts have been adjusted to correctly present the prior period activity and options outstanding at December 31, 2020.
Summary of Restricted Stock Units Activity

The following table summarizes stock RSU activity under the Plan:

 

 

 

 

 

Number of Shares

 

 

Weighted Average Grant Date Fair Value per Share

 

Outstanding as of December 31, 2020

 

 

 

 

—

 

 

$

-

 

RSU granted

 

 

 

 

866,402

 

 

$

4.08

 

RSU vested

 

 

 

 

—

 

 

$

-

 

RSU forfeited

 

 

 

 

(82,500

)

 

$

5.35

 

Outstanding as of December 31, 2021

 

 

 

 

783,902

 

 

$

3.94

 
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,

 

 

 

2021

 

 

2020

 

Cost of revenue

 

$

432

 

 

$

39

 

Research and development

 

 

2,859

 

 

 

1,000

 

Sales and marketing

 

 

2,307

 

 

 

327

 

General and administrative

 

 

6,036

 

 

 

794

 

 

 

$

11,634

 

 

$

2,160

 
Summary of Assumptions Used To Estimated Grant-Date Fair Value

The fair value of all stock-based compensation was estimated using the following assumptions at the date of the grant:

 

 

 

Year Ended December 31,

 

 

2021

 

2020

Risk-free interest rate

 

0.6% - 1.4%

 

0.4% - 1.5%

Expected volatility factor

 

66.9% - 70.0%

 

44.9% - 68.4%

Expected option life

 

5.0 - 6.08 years

 

5.1 - 6.8 years

Expected dividend yield

 

—

 

—