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Stock-based compensation (Tables)
12 Months Ended
Dec. 31, 2021
Share-based Payment Arrangement [Abstract]  
Schedule of Stock-based Compensation
The Company recognized stock-based compensation for all stock options in the statements of operations and comprehensive loss as follows (in thousands):
Year Ended
December 31,
202120202019
Cost of revenue$637 $657 $58 
Research and development7,240 6,059 621 
Sales and marketing3,823 640 140 
General and administrative13,663 4,701 474 
Total stock-based compensation
$25,363 $12,057 $1,293 
Schedule of Stock Option Activity
Stock option activity for the years ended December 31, 2021, 2020 and 2019 is as follows:
Number of
Shares
Underlying
Outstanding
Options
Weighted-
Ave rage Exercise
Price per Share
Weighted-Average
Remaining
Contractual
Term (in years)
Aggregate
Intrinsic
Value
Outstanding—January 1, 2019977,513 $5.24 9.5$2,943 
Options granted913,090 8.25 7.5206 
Options exercised(8,545)5.96 0.521 
Options cancelled(282,413)7.31 330 
Outstanding—December 31, 20191,599,645 $6.58 8.8$    3,020
Options granted
37,663,242 0.45 9.4363,941 
Options exercised
(12,221,364)0.20 9.5121,106 
Options cancelled
(1,309,020)1.58 — 
Outstanding—December 31, 2020
25,732,503 $0.56 9.5$245,746 
Options assumed through acquisition823,114 5.05 8.3125 
Options granted
645,796 10.26 9.3— 
Options exercised
(2,155,348)0.22 10,742 
Options cancelled
(916,969)0.30 4,492 
Outstanding—December 31, 202124,129,096 $1.01 8.6$100,992 
Vested and expected to vest—December 31, 202124,129,096 $1.01 8.6$100,992 
Exercisable—December 31, 20219,332,369 $0.74 8.5$41,587 
Schedule of Stock Options Outstanding and Exercisable
The following table summarizes information about stock options outstanding and exercisable at December 31, 2021.
Options OutstandingOptions Exercisable
Options
Outstanding
Weighted
Average
Remaining
Contractual
Life (Years)
Weighted
Average
Exercise
Price
Options
Exercisable
Weighted
Average
Remaining
Contractual
Life (Years)
Weighted
Average
Exercise
Price
5,548,717 8.4$0.18 3,492,915 8.4$0.18 
9,602,898 8.7$0.21 3,138,238 8.7$0.21 
7,524,114 8.8$1.42 2,194,532 8.8$1.42 
40,581 6.1$1.49 39,927 6.1$1.49 
766,989 7.8$5.24 466,757 7.8$5.24 
645,797 9.4$10.26 — 9.4$— 
24,129,096 9,332,369 
Schedule of Stock Options Valuation Assumptions
The weighted-average assumptions in the Black-Scholes option-pricing models used to determine the fair value of stock options granted during the years ended December 31, 2021, 2020 and 2019 were as follows:
Year Ended December 31,
202120202019
Expected term (in years)6.0
5.0 - 6.1
6
Risk-free interest rate1.0%
0.3 - 1.5%
1.5% - 2.4%
Expected volatility63.2%
57.4% - 63.3%
55.3% - 58.0%
Expected dividend rate0%0%0%
The weighted-average assumptions in the Black-Scholes option-pricing models used to determine the fair value of stock options assumed during the year ended December 31, 2021 were as follows:
Year Ended December 31,
2021
Expected term (in years)
3.1 - 5.6
Risk-free interest rate
0.8% - 1.3%
Expected volatility
44.1% - 48.6%
Expected dividend rate
0%
Schedule of Nonvested Restricted Stock Awards Activity
A summary of RSAs activity under the Plan is as follows:
Number of
Shares
Weighted Average
Grant Date Fair
Value (per share)
Unvested - January 1, 202034,865 $0.58 
Granted during the year
1,617,264 0.46 
Canceled during the year
(105,921)0.35 
Vested during the year
(1,505,454)0.52 
Unvested - December 31, 2020
40,754 $0.67 
Granted during the year
— — 
Canceled during the year
— — 
Vested during the year
(23,288)0.67 
Unvested - December 31, 2021
17,466 $0.67 
A summary of RSUs activity under the Plan is as follows:
Number of
Shares
Weighted Average
Grant Date Fair
Value (per share)
Unvested - January 1, 2021— $— 
Assumed through acquisition4,490,980 6.55 
Granted during the year
5,224,504 9.39 
Canceled during the year
(552,072)8.89 
Vested during the year
(509,786)10.30 
Unvested - December 31, 2021
8,653,626 $7.90