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Stock-based compensation (Tables)
 9 Months Ended
Sep. 30, 2021
Share-based Payment Arrangement [Abstract]  
Schedule of conversion of the vested and unvested options
The following table sets forth the activity for the 2018 Stock Plan, including the conversion of the vested and unvested options, for the nine months ended September 30, 2021:
Options
Outstanding, in thousands
Balance at December 31, 20192,734 
Cashed out(829)
Forfeited(19)
Balance at March 31, 2020 (prior to exchange ratio conversion)1,887 
Converted vested balance4,314 
Converted unvested balance364 
Balance at March 6, 2020 (post to exchange ratio conversion)4,678 
Exercised in 2020(28)
Forfeited/Cancelled in 2020(50)
Options Outstanding as of December 31, 20204,600 
Exercised in quarter ended March 31, 2021(37)
Forfeited/Cancelled in quarter ended March 31, 2021(11)
Options Outstanding as of March 31, 20214,552 
Exercised in quarter ended June 30, 2021(257)
Forfeited/Cancelled in quarter ended June 30, 2021(3)
Options Outstanding as of June 30, 20214,291 
Exercised in quarter ended September 30, 2021(687)
Forfeited/Cancelled in quarter ended September 30, 2021(1)
Options Outstanding as of September 30, 20213,603 
Schedule of share-based payment arrangement activity The following table represent the number of shares available for grants from 2020 Equity Incentive Plan (in thousands):
Available
for grant
Available for grant, December 31, 20209,881 
Options granted(546)
RSU granted(47)
PSU granted (100% target)(566)
Options, RSUs, and PSUs forfeited669 
Traded for taxes (returned to the pool)1,513 
Available for grant, September 30, 202110,904 
Schedule of estimated grant using the black-scholes The key assumptions for 2021 grants are provided in the following table.
2021
Dividend yield0 %
Expected volatility40 %
Risk-free interest rate0.87 %
Expected term in years6.11
Grant date fair value of common stock$18.60 
Schedule of option activity
The following table summarizes option activity for the nine months ended September 30, 2021 (shares in thousands):
Shares
Price (1)
Term (2)
Options outstanding as of December 31, 2020 (2020 Plan)1,942 $8.38 9.22
Options granted546 $18.60 
Options exercised(102)$8.20 
Options forfeited(345)$8.67 
Options outstanding as of September 30, 2021 (2020 Plan)2,041 $11.08 8.85
(1)Represents the weighted average exercise price
(2)Represents weighted average remaining contractual term
Schedule of restricted stock unit activity The following table summarizes RSU activity for the nine months ended September 30, 2021(in thousands):
Shares
RSUs outstanding as of December 31, 2020 (2020 Plan)2,996 
RSUs granted47 
RSUs released(1,068)
RSU forfeited(291)
RSUs outstanding as of September 30, 20211,683 
Schedule of employee stock-based compensation recognized Employee stock-based compensation recognized was as follows (in thousands):
Three months ended September 30, 2021
Nine months ended
September 30,
2021202020212020
Cost of revenue$173 $66 $433 $740 
Engineering, research, and development799 621 1,970 1,678 
Sales and marketing963 808 2,207 2,545 
General and administrative7,178 3,631 16,849 8,621 
Total stock-based compensation$9,113 $5,126 $21,459 $13,584