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Stock-Based Compensation (Tables)
3 Months Ended
Mar. 31, 2021
Share-based Payment Arrangement [Abstract]  
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions
The grant-date fair value of the Company's stock options granted was estimated using the following weighted average assumptions for the three months ended March 31, 2021:
 
Expected term (in years)5.77
Expected volatility58.87 %
Risk-free interest rate0.83 %
Expected dividend yield— %
Share-based Payment Arrangement, Option, Activity
Option activity (excluding the stock options granted to the CEO outlined above) is as follows (in thousands, except for weighted average exercise price and weighted average contractual term in years):
 
SharesWeighted
Average
Exercise
Price
Weighted
Average
Contractual
Period
(in Years)
Aggregate
Intrinsic
Value
Outstanding at December 31, 202026,459 $1.16 8.50$131,770 
Recapitalization(14,474)1.41 
Outstanding at December 31, 202011,985 2.57 8.50131,770 
Granted423 13.79 
Exercised (including early exercised options vested during the period)(384)0.90 
Forfeited and expired(56)1.70 
Outstanding at March 31, 202111,968 3.02 8.37122,556 
Vested and expected to vest as of March 31, 202111,968 3.02 8.37122,556 
Exercisable as of March 31, 202111,165 $2.64 8.37$118,231 
Share-based Payment Arrangement, Option, Exercise Price Range
The options outstanding and exercisable as of March 31, 2021 (excluding CEO stock options) have been aggregated into ranges for additional disclosure as follows (in thousands, except weighted average remaining contractual life and exercise price):
 
 Options OutstandingOptions Exercisable
Exercise PriceSharesWeighted
Average
Remaining
Contractual
Life (in
Years)
SharesWeighted
Average
Remaining
Contractual
Life (in
Years)
$ 0.06 – 0.40
3,236 6.923,123 6.92
1.55 – 2.33
3,368 8.073,182 8.07
2.43 – 3.65
3,298 9.173,295 9.17
8.90 – 13.35
1,888 9.761,558 9.75
15.17 – 22.76
178 9.799.78
11,968 11,165 
Schedule of Share-based Payment Award, Equity Instrument Other Than Options, Valuation Assumptions The following assumptions were used for the valuation of the Private Placement Warrants on the settlement date:
Expected term0.16
Volatility65.00 %
Risk-free rate0.03 %
Dividend yield— %
The following assumptions were used in this valuation:
Expected term (in years)5.00
Expected volatility60.00 %
Risk-free interest rate0.50 %
Expected dividend yield— %
Share-based Payment Arrangement, Restricted Stock Unit, Activity
RSU activity including RSUs outstanding prior to the Merger, earn-out RSUs, and Parent Warrant RSUs is as follows (in thousands, except for weighted average grant date fair value):

SharesWeighted Average Grant Date Fair Value
Unvested at December 31, 20203,480 $5.30 
Recapitalization(1,904)5.99 
Unvested at December 31, 20201,576 11.29 
Granted2,804 14.95 
Vested(790)15.66 
Unvested at March 31, 20213,590 $13.16 
Share-based Payment Arrangement, Expensed and Capitalized, Amount
The following table summarizes stock-based compensation expense for employees and nonemployees, by category, on the condensed consolidated statements of operations and comprehensive loss for three months ended March 31, 2021 and March 31, 2020 (in thousands):
 
Three Months Ended
March 31
20212020
Marketing$1,846 $291 
Selling, general, and administrative32,384 1,113 
Total stock-based compensation expense$34,230 $1,404 
Share-based Payment Arrangement, Activity
Vendor warrant activity, excluding any right to receive Merger considerations, is as follows (in thousands, except for weighted average exercise price and weighted average contractual term in years):

SharesWeighted Average Exercise PriceWeighted Average Contractual Term (in Years)Aggregate Intrinsic Value
Outstanding at December 31, 20201,861 0.797.01$9,957 
Recapitalization(1,018)0.96
Outstanding at December 31, 2020843 1.757.01$9,957 
Granted— — 
Exercised(381)1.75
Forfeited and expired
— — 
Outstanding at March 31, 2021462 1.757.01$5,308 
Vested and expected to vest as of March 31, 2021462 1.757.01$5,308 
Exercisable as of March 31, 2021185 1.757.01$2,123