Stock-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2022

Share-based Payment Arrangement [Abstract]

Assumptions used in Determining Fair Value

Below are the assumptions used for the six months ended June 30, 2022 and 2021 in determining the fair value of each option award:

	Six Months Ended June 30,
	2022			2021
Expected volatility		49	%		54	%
Expected dividends		—			—
Expected term (in years)		5.50		5.75
Risk-free rate		1.91	%		0.47	%

Summary of Stock Option Activity

The following summarizes the Company’s stock option plan and the activity for the six months ended June 30, 2022:

	Shares			Weighted-Average Exercise Price		Weighted-Average Remaining Contractual Term (Years)
Outstanding, December 31, 2021		7,953,018		$	9.02		8.16
Granted		311,840			16.05
Exercised		(78,375	)		4.35
Forfeited or expired		(260,731	)		10.86
Outstanding, June 30, 2022		7,925,752		$	9.29		7.72
Exercisable, June 30, 2022		3,665,284		$	4.44		6.14
Vested and expected to vest at June 30, 2022		7,925,752		$	9.29		7.72