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Share-based compensation (Tables)
 12 Months Ended
Dec. 31, 2021
Share-based Payment Arrangement [Abstract]  
Schedule of stock based compensation
The Company recognized stock-based compensation expense for all equity arrangements as follows:
Years Ended December 31,
202120202019
(in thousands)
Cost of revenue:
Subscription$3,755 $732 $194 
Services594 139 — 
Sales and marketing10,938 1,748 460 
Research and development10,512 1,533 394 
General and administrative10,006 2,591 1,413 
$35,805 $6,743 $2,461 
Summary of stock-option activity
The table below summarizes return target options activity for the years ended December 31, 2021, 2020, and 2019:
OptionsWeighted-
Average
Exercise
Price		Weighted-
Average
Remaining
Contractual
Term (Years)		Aggregate
Intrinsic
Value
(in thousands)
Outstanding, January 1, 2019
2,200,189 $5.49 8.9$— 
Granted1,653,209 8.29 — 
Exercised— — — 
Forfeitures(165,734)5.49 — 
Outstanding, December 31, 20193,687,664 6.75 8.829,908 
Granted— — — 
Exercised— — — 
Forfeitures— — — 
Outstanding, December 31, 20203,687,664 6.75 7.885,444 
Granted— — — 
Exercised— — — 
Forfeitures— — — 
Outstanding, December 31, 20213,687,664 $6.75 6.8$115,278 
Options exercisable at December 31, 2021— $— — $— 
Vested or expected to vest at December 31, 2021— $— — $— 
The table below summarizes the service-based option activity for the years ended December 31, 2021, 2020, and 2019:
OptionsWeighted‑
Average
Exercise
Price		Weighted‑
Average
Remaining
Contractual
Term (Years)		Aggregate
Intrinsic
Value
(in thousands)
Outstanding, January 1, 2019
4,245,709 $5.51 8.9$— 
Granted212,668 8.21 — 
Exercised(168,391)5.49 256 
Forfeitures(216,700)5.49 — 
Outstanding, December 31, 20194,073,286 5.65 8.137,520 
Granted— — — 
Exercised(526,460)5.67 13,899 
Forfeitures— — — 
Outstanding, December 31, 20203,546,826 5.65 7.186,098 
Granted— — — 
Exercised(1,903,560)5.62 54,716 
Forfeitures— — — 
Outstanding, December 31, 20211,643,266 $5.68 6.1$53,129 
Options exercisable at December 31, 20211,434,887 $5.49 5.9$46,658 
Vested or expected to vest at December 31, 20211,643,266 $5.68 6.1$53,129 
Schedule of stock-based payment award valuation inputs
The Company used the following assumptions in the Modified Black-Scholes option pricing model to estimate the fair value of return target options modified during the year ended December 31, 2020 and granted during the year ended December 31, 2019:
Years Ended December 31,
20202019
Expected life of options1.50 years
3 - 3.25 years
Expected volatility55%
50% - 55%
Risk-free interest rates0.16%
1.49% - 1.67%
Expected dividend yield—%—%
Weighted-average grant-date fair value$8.95$6.02
The Company used the following assumptions in the Black-Scholes option pricing model to estimate the fair value of service-based options granted during the year ended December 31, 2019:
Year Ended December 31, 2019
Expected life of options6.25 years
Expected volatility
45.1% - 45.3%
Risk-free interest rates
1.6% - 1.7%
Expected dividend yield
—%
Weighted-average grant-date fair value$7.29
The Company used the following assumptions in the Black-Scholes option pricing model:
Year Ended December 31, 2021
Expected term0.5 years
Expected volatility40.31%
Risk-free interest rate0.06%
Expected dividend yield—%
Summary of restricted stock units activity
Restricted stock unit activity for the years ended December 31, 2021, 2020, and 2019 was as follows:
UnitsWeighted-Average Grant Date Fair Value (per share)
Outstanding, January 1, 2019
25,520 $5.87 
Granted36,520 12.60 
Vested(25,520)5.87 
Forfeited— — 
Outstanding, December 31, 201936,520 12.60 
Granted1,317,719 26.33 
Vested(36,520)12.60 
Forfeited(24,612)26.00 
Outstanding, December 31, 20201,293,107 26.34 
Granted6,339,974 32.51 
Vested(530,032)30.57 
Forfeited(212,111)29.74 
Outstanding, December 31, 20216,890,938 $31.59