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Stockholders' Equity (Deficit) (Tables)
12 Months Ended
Dec. 31, 2021
Equity [Abstract]  
Schedule of Shares Reserved for Future Issuance

The Company has reserved shares of common stock for future issuances as follows:

 

 

 

December, 31

 

 

2021

 

2020

Series A redeemable convertible preferred stock outstanding

 

  —

 

450,692

Series B redeemable convertible preferred stock outstanding

 

  —

 

675,397

Series C redeemable convertible preferred stock outstanding

 

  —

 

2,223,888

Series D redeemable convertible preferred stock outstanding

 

  —

 

9,047,861

Warrants to purchase Series D redeemable convertible preferred stock

 

  —

 

77,842

Warrants to purchase common stock

 

77,842

 

  —

Common stock options issued and outstanding

 

2,175,685

 

2,466,594

Common stock available for future grants

 

1,934,095

 

67,065

Restricted stock units issued and outstanding

 

394,750

 

  —

Common stock available for ESPP

 

401,164

 

  —

 

Schedule of Stock Option Activity

A summary of stock option activity is set forth below (in thousands, except share and per share data):

 

 

Number of
Shares
Underlying
Outstanding
Options

 

Weighted
Average
Exercise
Price

 

Weighted
Average
Remaining
Contractual
Term (in years)

 

Aggregate
Intrinsic
Value

Outstanding, January 1, 2020

2,482,957

 

$

2.96

 

5.59

 

2,257

Options granted

451,689

 

$

0.61

 

 

 

 

Options exercised

(282,813)

 

$

0.73

 

 

 

 

Options forfeited or cancelled

(185,239)

 

$

1.28

 

 

 

 

Outstanding, December 31, 2020

2,466,594

 

$

0.61

 

5.21

 

  —

Options granted

1,846,375

 

$

11.05

 

 

 

 

Options exercised

(1,975,918)

 

$

0.61

 

 

 

 

Options forfeited or cancelled

(161,366)

 

$

3.28

 

 

 

 

Outstanding, December 31, 2021

2,175,685

 

$

9.27

 

8.68

 

2,856

Shares exercisable December 31, 2021

1,502,978

 

$

9.32

 

8.40

 

2,066

Vested and expected to vest, December 31, 2021

2,175,685

 

$

9.27

 

8.68

 

2,856

Schedule of Restricted Stock Units

In December 2021 the Company granted 394,750 restricted stock units under 2021 Plan, established by the Company in October 2021.

 

 

Number of
Shares
Underlying
Outstanding
Restricted Stock

 

Weighted Average Grant Date Fair Value

Unvested, January 1, 2021

  —

 

$

  —

Granted

394,750

 

$

5.17

Unvested, December 31, 2021

394,750

 

$

5.17

Summary of Stock-Based Compensation Expense

Total stock-based compensation expense recognized was as follows (in thousands):

 

 

Years Ended December 31,

 

2021

 

2020

Cost of goods sold

$

274

 

$

132

Sales and marketing

 

2,137

 

 

311

Research and development

 

136

 

 

10

General and administrative

 

4,270

 

 

405

Total

$

6,817

 

$

858

The above stock-based compensation expense related to the following equity-based awards (in thousands):

 

 

Years Ended December 31,

 

2021

 

2020

Stock options

$

6,722

 

$

858

RSU

 

95

 

 

  —

Total

$

6,817

 

$

858

Schedule of Fair Value of Stock Options Estimated Using Weighted-Average Assumptions The fair value of stock options was estimated using the following weighted-average assumptions:

 

 

Years Ended December 31,

 

2021

 

2020

Expected volatility

72.8% - 78.0%

 

61.6% - 75.2%

Risk-free interest rate

0.6% - 1.3%

 

0.3% - 0.7%

Dividend yield

0%

 

0%

Expected term

5 - 6 years

 

5 - 6 years