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Stock-Based Compensation (Tables)
9 Months Ended
Sep. 30, 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 nine months ended September 30, 2021:
 
Expected term (in years)5.93
Expected volatility58.6 %
Risk-free interest rate0.9 %
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 8.50$131,770 
Granted1,255 12.69 
Exercised (including early exercised options vested during the period)(1,288)0.73 
Forfeited and expired(249)4.31 
Outstanding at September 30, 202111,703 3.80 8.0952,937 
Vested and expected to vest as of September 30, 202111,703 3.80 8.0952,937 
Exercisable as of September 30, 202110,346 2.83 7.9252,108 
Share-based Payment Arrangement, Option, Exercise Price Range
The options outstanding and exercisable as of September 30, 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
2,593 6.462,590 6.46
1.55 – 2.33
3,047 7.642,910 7.64
2.43 – 3.65
3,254 8.673,254 8.67
8.17 – 12.26
1,871 9.311,490 9.23
12.79 – 19.19
938 9.55102 9.45
11,703 10,346 
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
Volatility65.0 %
Risk-free rate— %
Dividend yield— %
The following assumptions were used in this valuation:
Expected term (in years)5.00
Expected volatility60.0 %
Risk-free interest rate0.5 %
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 
Granted4,540 12.09 
Vested(1,385)12.76 
Forfeited and expired(211)10.93 
Unvested at September 30, 20214,520 $11.64 
Share-based Payment Arrangement, Activity
Vendor warrant activity, excluding any right to receive Merger consideration, 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 $0.79 7.01$9,957 
Recapitalization(1,018)0.96 
Outstanding at December 31, 2020843 $1.75 7.01$9,957 
Exercised(381)1.75 
Outstanding at September 30, 2021462 1.75 7.012,677 
Vested and expected to vest as of September 30, 2021462 1.75 7.012,677 
Exercisable as of September 30, 2021462 1.75 7.012,677 
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 the three and nine months ended September 30, 2021 and 2020 (in thousands):
 
Three Months Ended
September 30,
Nine Months Ended
September 30,
2021202020212020
Marketing$2,328 $261 $4,946 $919 
Selling, general, and administrative9,541 1,153 50,313 3,824 
Total stock-based compensation expense$11,869 $1,414 $55,259 $4,743