XML 56 R40.htm IDEA: XBRL DOCUMENT v3.22.0.1
Stock-Based Compensation (Tables)
12 Months Ended
Dec. 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:

Year Ended December 31,
202120202019
Expected term (in years)5.945.945.98
Expected volatility58.6 %62.3 %59.7 %
Risk-free interest rate0.9 %0.5 %2.2 %
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 
Granted1,437 12.12 
Exercised (including early exercised options vested during the period)(1,911)1.07 
Forfeited and expired(1,110)4.14 
Outstanding at December 31, 202110,401 4.01 7.7337,868 
Exercisable as of December 31, 20218,974 2.90 7.4937,303 
Share-based Payment Arrangement, Option, Exercise Price Range
Options OutstandingOptions Exercisable
Exercise PriceSharesWeighted
Average
Remaining
Contractual
Life (in
Years)
SharesWeighted
Average
Remaining
Contractual
Life (in
Years)
$0.06 – 0.40
2,309 5.642,308 5.64
1.55 – 1.75
2,120 7.342,006 7.34
2.43
3,242 8.423,241 8.42
8.13 – 9.41
1,756 8.821,291 8.54
12.21 – 15.17
974 9.28128 9.02
10,401 8,974 

The options outstanding and exercisable as of December 31, 2020 (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
3,454 7.173,214 7.17
1.55 – 1.75
3,564 8.363,351 8.36
2.43
3,324 9.363,320 9.36
8.90 – 9.41
1,643 9.971,508 9.98
  11,985 11,393 
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 
Granted4,882 11.81 
Vested(1,852)11.80 
Forfeited and expired(624)12.09 
Unvested at December 31, 20213,982 $11.55 
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 Price
Weighted 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 December 31, 2021462 1.75 7.012,219 
Vested as of December 31, 2021462 1.75 7.012,219 
Exercisable as of December 31, 2021462 1.75 7.012,219 
Share-based Payment Arrangement, Expensed and Capitalized, Amount
The following table summarizes stock-based compensation expense for employees and nonemployees, by category, on the consolidated statements of operations and comprehensive loss for the years ended December 31, 2021, 2020, and 2019 (in thousands):

Year Ended December 31,
202120202019
Marketing$9,664 $1,172 $571 
Selling, general, and administrative57,547 4,659 7,457 
Total stock-based compensation expense$67,211 $5,831 $8,028