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Stock-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]  
Schedule of Weighted Average Grant Fair Value of Stock Options using Black-Scholes Option-pricing Model

The following table presents, on a weighted average basis, the assumptions used in the Black-Scholes option-pricing model to determine the grant-date fair value of stock options granted during the years ended December 31, 2022 and 2021:

 

 

 

Year Ended
December 31,

 

 

 

2022

 

 

2021

 

Risk-free interest rate

 

 

2.7

%

 

 

0.8

%

Expected term (in years)

 

 

5.9

 

 

 

4.7

 

Expected volatility

 

 

77.1

%

 

 

80.4

%

Expected dividend yield

 

 

%

 

 

%

Schedule of Stock Option Activity

The following table summarizes option activity with service conditions under the 2021 Plan and the 2017 Plan:

 

 

 

Options

 

 

Weighted
Average
Exercise Price

 

 

Weighted
Average
Contract Term
(years)

 

 

Aggregate
Intrinsic
Value

 

Outstanding at December 31, 2020

 

 

17,167,165

 

 

$

1.63

 

 

 

7.3

 

 

$

100,633

 

Granted

 

 

9,681,736

 

 

 

8.57

 

 

 

 

 

 

 

Exercised

 

 

(703,512

)

 

 

0.91

 

 

 

 

 

 

 

Forfeited

 

 

(2,080,803

)

 

 

4.04

 

 

 

 

 

 

 

Outstanding at December 31, 2021

 

 

24,064,586

 

 

$

4.23

 

 

 

7.4

 

 

$

56,525

 

Granted

 

 

3,353,573

 

 

 

8.00

 

 

 

 

 

 

 

Exercised

 

 

(1,710,471

)

 

 

0.56

 

 

 

 

 

 

 

Forfeited

 

 

(648,279

)

 

 

7.60

 

 

 

 

 

 

 

Outstanding at December 31, 2022

 

 

25,059,409

 

 

$

4.90

 

 

 

6.1

 

 

$

7,851

 

Vested and expected to vest December 31, 2022

 

 

25,059,409

 

 

$

4.90

 

 

 

6.1

 

 

$

7,851

 

Exercisable at December 31, 2022

 

 

20,277,617

 

 

$

4.15

 

 

 

5.4

 

 

$

7,851

 

Schedule of Activity Related to RSU Stock-Based Payment Awards

The following table summarizes activity related to RSU stock-based payment awards:

 

 

Number of Shares

 

 

Weighted
Average
Grant Date Fair Value

 

Outstanding at December 31, 2020

 

 

 

 

$

 

Granted

 

 

488,600

 

 

$

7.20

 

Forfeited

 

 

(13,900

)

 

$

7.20

 

Outstanding at December 31, 2021

 

 

474,700

 

 

$

7.20

 

Granted

 

 

2,342,891

 

 

$

7.51

 

Vested

 

 

(232,521

)

 

$

7.21

 

Forfeited

 

 

(311,041

)

 

$

8.46

 

Outstanding at December 31, 2022

 

 

2,274,029

 

 

$

7.34

 

Schedule of Stock-based Compensation Expense

The Company recorded stock-based compensation expense in the following expense categories of its consolidated statements of operations:

 

 

Year Ended December 31,

 

 

2022

 

 

2021

 

Cost of revenues

$

410

 

 

$

72

 

Research and development

 

2,118

 

 

 

11,105

 

Selling, general and administrative

 

13,328

 

 

 

28,833

 

 

$

15,856

 

 

$

40,010