Stock-based compensation (Tables)

6 Months Ended

Jun. 30, 2022

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Schedule of assumptions used to determine the grant-date fair value of stock options

The following table presents, on a weighted average basis, the assumptions used in the Black-Scholes option-pricing model to determine the grant-date fair value of stock options granted to employees and directors:

	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Risk-free interest rate	2.85	%	1.1	%	2.00	%	1.0	%
Expected term (in years)	5.9		6.1		6.0		6.0
Expected volatility	43.9	%	43.1	%	43.1	%	44.3	%
Expected dividend yield	0	%	0	%	0	%	0	%

Schedule of stock option activity

The following table summarizes the Company’s stock option activity since December 31, 2021:

				Weighted
		Weighted		average
	Number of	average		remaining	Aggregate
	shares	exercise price		contractual term	intrinsic value
				(in years)		(in thousands)
Outstanding as of December 31, 2021	4,823,100	$	5.06	7.62	$	31,041
Granted	1,542,759		7.53
Exercised	(475,033)		0.99
Expired	(5,546)		10.74
Forfeited	(212,152)		11.85
Outstanding as of June 30, 2022	5,673,128	$	5.79	8.15	$	9,010
Options vested and expected to vest as of June 30, 2022	5,673,128	$	5.79	8.15	$	9,010
Options exercisable as of June 30, 2022	2,426,101	$	2.72	6.78	$	6,687

Schedule of restricted stock activity

The following table summarizes the Company’s restricted stock activity since December 31, 2021:

		Weighted
	Number of	average
	shares	fair value
Unvested as of December 31, 2021	248,903	$	2.10
Granted	-		-
Vested	(82,967)	$	2.10
Forfeited	-		-
Unvested as of June 30, 2022	165,936	$	2.10

Schedule of assumptions used to determine fair value of 2021 ESPP

The following weighted average assumptions were used in the calculation of fair value of shares under the 2021 ESPP at the grant date for the three and six months ended June 30, 2022 (there were no offering periods for the three and six months ended June 30, 2021):

	Three Months Ended June 30,			Six Months Ended June 30,
	2022			2022
Risk-free interest rate		0.86	%		0.86	%
Expected term (in years)		0.5			0.5
Expected volatility		43.1	%		43.1	%
Expected dividend yield		0	%		0	%

Schedule of stock-based compensation expense was classified in the consolidated statements of operations

Stock-based compensation

Stock-based compensation expense was classified in the condensed consolidated statements of operations as follows (in thousands):

	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Cost of revenue	$	164	$	85	$	264	$	115
Research and development		100		37		179		49
Sales and marketing		142		60		276		82
General and administrative		852		208		1,522		335
Total stock-based compensation expense	$	1,258	$	390	$	2,241	$	581

Restricted Stock Units

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Schedule of restricted stock activity

The following table summarizes restricted stock units granted to Company employees during the six months ended June 30, 2022:

		Weighted
	Number of	average
	shares	fair value
Unvested as of December 31, 2021	-	$	-
Granted	593,480		7.62
Vested	-		-
Forfeited	(9,600)		7.58
Unvested as of June 30, 2022	583,880	$	7.62