Equity Incentive Plan (Tables)

6 Months Ended

Jun. 30, 2022

Schedule of Additional Information on Stock Option Grants And Vesting

The following table summarizes additional information on stock option grants and vesting (in thousands):

	2019 Plan
	Six Months Ended June 30, 2022		Six Months Ended June 30, 2021
Total fair value of stock options granted	$	2,898	$	2,293
Total fair value of options vested		840		252

Schedule of Black Scholes model for the Private Warrants

To estimate the fair value of the Private Warrants as of December 31, 2021 and June 30, 2022, the Company used a Black Scholes closed form model, which is a Level 3 fair value measurement. Significant inputs used in the Black Scholes model for the Private Warrants were as follows:

	December 31, 2021 & June 30, 2022
Expected volatility		27.00	%
Expected term (in years)		2.94
Risk free interest rate		0.96	%
Dividend yield		0.00	%
Exercise Price	$	11.50
Fair value of Common Stock	$	6.80

The following table summarizes the assumptions used in the valuation models to determine the fair value of awards granted to employees and non-employee directors under the 2019 Plan:

	Six Months Ended June 30, 2022		Six Months Ended June 30, 2021
Expected volatility	42.8% - 42.9%		44.06% - 44.61%
Expected term (in years)		6.00		6.00
Dividend yield	0.00%		0.00%
Risk-free interest rate	1.62%-2.71%		0.70% - 1.00%

Stock Based Compensation Expense Included In Condensed Consolidated Statements of Comprehensive Loss

Stock-based compensation expense is included in the Company’s Condensed Consolidated Statements of Comprehensive Loss within the following line items (in thousands):

	Three Months Ended June 30, 2022		Three Months Ended June 30, 2021		Six Months Ended June 30, 2022		Six Months Ended June 30, 2021
Cost of revenues	$	411	$	348	$	762	$	690
General and administrative		511		410		919		806
Research and development		134		72		237		136
Sales and marketing		241		188		441		364
Total	$	1,297	$	1,018	$	2,359	$	1,996

Restricted Stock Units [Member]

Schedule of RSUs Activity Under 2019 Plan

The following table summarizes the Company’s RSU activity for performance-based RSUs awarded to employees and for time-based RSUs granted to non-employee directors under the 2019 Plan:

Description	RSUs Outstanding
Balance at December 31, 2021		1,513,892
Granted		476,889
Vested - non-employee director awards		(106,991	)
Forfeited		(21,672	)
Expired		—
Balance at June 30, 2022		1,862,118

2019 Plan [Member]

Schedule of Stock Option Activity Under 2019 Plan

The following table summarizes the Company’s stock option activity under the 2019 Plan:

Description	Options Outstanding			Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (Years)		Aggregate Intrinsic Value (1)
Options outstanding, December 31, 2021		5,093,682		$	8.34		8.4	$	24
Granted		1,135,850			5.99
Exercised		—			—
Forfeited		(75,535	)		7.93
Expired		(62,634	)		8.25
Options outstanding, June 30, 2022		6,091,363		$	7.90		8.2	$	454
Options vested and exercisable, June 30, 2022		2,861,327		$	8.38		7.6	$	-
Options vested and expected to vest, June 30, 2022		6,091,363		$	7.90		8.2	$	454

(1) Aggregate intrinsic value (in thousands) represents the difference between the estimated fair value of the underlying Common Stock and the exercise price of outstanding in-the-money options.