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Stock Incentive Plan and Stock-based Compensation (Tables)
3 Months Ended
Mar. 31, 2022
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Summary of Changes in Stock Options Granted

The following table summarizes stock option activity for the three months ended March 31, 2022:

    

    

    

Weighted-

Weighted-

Average

Average

Remaining

Number of

Exercise

Contractual

    

Awards

    

Price

    

Term

Awards outstanding—December 31, 2021

 

5,716,597

$

22.53

 

8.09

Awards issued

 

1,377,307

$

49.33

 

  

Awards exercised

 

(205,432)

$

9.35

 

  

Awards forfeited

 

(63,665)

$

27.97

 

  

Awards outstanding—March 31, 2022

 

6,824,807

$

28.29

 

8.33

Summary of Changes in SARs Granted

The following table summarizes SARs activity for the three months ended March 31, 2022:

    

    

    

Weighted-

Weighted-

Average

Average

Remaining

Number of

Exercise

Contractual

    

Awards

    

Price

    

Term

Awards outstanding—December 31, 2021

 

49,294

$

9.24

 

7.29

Awards issued

 

$

 

  

Awards exercised

 

(3,651)

$

8.22

 

  

Awards forfeited

 

(2,435)

$

8.22

 

  

Awards outstanding—March 31, 2022

 

43,208

$

9.38

 

7.08

Summary of Changes in RSUs Granted

The following table summarizes RSU activity for the three months ended March 31, 2022:

    

    

    

Weighted-

Weighted-

Average

Average

Remaining

Number of

Exercise

Contractual

    

Awards

    

Price

    

Term

Awards outstanding—December 31, 2021

 

60,000

$

29.03

 

9.24

Awards issued

 

$

 

  

Awards exercised

 

$

 

  

Awards forfeited

 

$

 

  

Awards outstanding—March 31, 2022

 

60,000

$

29.03

 

8.99

Summary of Assumptions Used to Value Awards

The assumptions used to value the awards are summarized in the following table.

As of

    

March 31, 

    

December 31, 

    

2022

    

2021

Dividend yield

 

0.00

%  

0.00

%

Expected volatility

 

72.60-72.70

%  

60.00

%

Risk-free interest rate

 

1.99 - 2.37

%  

0.66 - 1.44

%

Expected term (years)

 

3.9 - 6.3

 

4.1- 6.3

Summary of Stock-based Compensation Expense

Stock-Based Compensation

Stock-based compensation expense, net for the three months ended March 31, 2022 and 2021, was recorded in the unaudited condensed consolidated statements of operations and comprehensive income in the following line items:

Three Months Ended March 31, 

    

2022

    

2021

Research and development expense

$

518

$

420

Sales and marketing expense

 

976

 

620

General and administrative expense

 

3,402

 

2,211

$

4,896

$

3,251