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Stock-Based Compensation (Tables)
6 Months Ended
Jun. 30, 2022
Disclosure Of Compensation Related Costs Sharebased Payments [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 six months ended June 30, 2022:

 

Risk-free interest rate

 

 

 

 

 

 

 

 

2.5

%

Expected term (in years)

 

 

 

 

 

 

 

 

6.0

 

Expected volatility

 

 

 

 

 

 

 

 

77.0

%

Expected dividend yield

 

 

 

 

 

 

 

 

0

%

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

 

Balance at January 1, 2022

 

 

24,064,586

 

 

$

4.23

 

 

 

7.4

 

 

$

56,525

 

Granted

 

 

2,435,662

 

 

$

9.18

 

 

 

 

 

 

 

 

 

Exercised

 

 

(619,784

)

 

$

0.57

 

 

 

 

 

 

 

 

 

Forfeited

 

 

(232,106

)

 

$

6.30

 

 

 

 

 

 

 

 

 

Outstanding at June 30, 2022

 

 

25,648,358

 

 

$

4.77

 

 

6.58

 

 

$

28,099

 

Vested and expected to vest June 30, 2022

 

 

25,648,358

 

 

$

4.77

 

 

6.58

 

 

$

28,099

 

Exercisable at June 30, 2022

 

 

19,756,174

 

 

$

3.66

 

 

 

5.80

 

 

$

28,099

 

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, 2021

 

 

 

 

 

 

474,700

 

 

$

7.20

 

Granted

 

 

 

 

 

 

1,710,123

 

 

$

8.88

 

Forfeited

 

 

 

 

 

 

(36,047

)

 

$

7.67

 

Outstanding at June 30, 2022

 

 

 

 

 

 

2,148,776

 

 

$

8.53

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Schedule of Stock-based Compensation Expense

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

 

 

 

Three months ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2022

 

 

2021

 

 

2022

 

 

2021

 

Cost of revenue

 

$

131

 

 

$

16

 

 

$

168

 

 

$

32

 

Research and development

 

 

741

 

 

 

7,316

 

 

 

989

 

 

 

7,663

 

Selling, general and administrative

 

 

3,657

 

 

 

20,856

 

 

 

5,794

 

 

 

21,502

 

 

 

$

4,529

 

 

$

28,188

 

 

$

6,951

 

 

$

29,197