XML 57 R45.htm IDEA: XBRL DOCUMENT v3.21.2
Stock-Based Compensation (Tables)
 3 Months Ended
Mar. 31, 2021
Share-based Payment Arrangement [Abstract]  
Summary of Stock-Based Compensation Expense Stock-based compensation expense is included within the statements of operations and comprehensive loss as follows (in thousands):
Year Ended December 31,
202020192018
Cost of services$13,947 $710 $748 
Research and development26,650 1,281 1,135 
Selling and marketing10,750 650 416 
General and administrative68,884 2,841 3,306 
Total stock-based compensation expense$120,231 $5,482 $5,605 
Stock-based compensation expense is included within the condensed statements of operations and comprehensive loss as follows (in thousands):
Three months ended March 31,
(in thousands)20212020
Cost of services$19,782 $120 
Research and development
38,187 234 
Selling and marketing
17,381 126 
General and administrative
89,612 335 
Total Stock-based compensation expense
$164,962 $815 
Summary of Stock Option Activity
The following summarizes the activity under the 2017 Plan for Class A and Class B common stock options (in thousands, except share and per share amounts):
Class A Common StockShares Available for GrantStock Options OutstandingWeighted- Average Exercise PriceWeighted- Average Remaining Contractual Life (years)Aggregate Intrinsic Value
Balances at December 31, 2018–142,500 18.94 8.57$ 5,794
Options forfeited and cancelled14,000 (14,000)18.94 ––
Increase in share reserve for issuance of Class B grants(14,000)––––
Balances at December 31, 2019–128,500 18.94 7.58$9,754 
Options forfeited and cancelled6,500 (6,500)18.94 ––
Increase in share reserve for issuance of Class B grants(6,500)––––
Balances at December 31, 2020–122,000 18.94 6.57$80,565 
Options exercisable at December 31, 2020115,972 18.94 6.56$76,584 
All outstanding stock options for Class A common stock have an exercise price of $18.94.
Class B Common StockShares Available for GrantStock Options OutstandingWeighted- Average Exercise PriceWeighted- Average Remaining Contractual Life (years)Aggregate Intrinsic Value
Balances at December 31, 20183,315,972 2,434,028 $0.20 9.27$969 
Options granted(3,247,815)3,247,815 $0.95 ––
Options forfeited and cancelled369,000 (369,000)$0.23 ––
Increase in share reserve for issuance under the 2017 Plan7,529,200 ––––
Increase in share reserve for issuance of Class B grants1,400,000 ––––
Balances at December 31, 20199,366,357 5,312,843 $0.65 9.091,562 
Options granted(9,245,190)9,245,190 $1.32 –
Options forfeited and cancelled537,000 (537,000)$0.86 –
Increase in share reserve for issuance of Class B grants650,000 ––––
Options exercised–(105,429)$0.95 –
Balances at December 31, 20201,308,167 13,915,604 $1.09 8.91$79,334 
Options exercisable at December 31, 20205,615,734 $0.74 8.42$34,005 
The following summarizes the activity under the 2017 Plan for Class A and Class B common stock options (in thousands, except share and per share amounts):
(in thousands)
Class A Common Stock
Shares Available for Grant
Stock Options Outstanding
Weighted Average Exercise Price
Weighted Average Remaining Contractual Life (years)
Aggregate Intrinsic Value
Balances at December 31, 2020— 122,000 $18.94 6.57$80,565 
Options forfeited and cancelled— — — 
Balances at March 31, 2021
— 122,000 $18.94 6.32$174,739 
Options exercisable at March 31, 2021
117,816 $18.94 6.31$168,747 
All outstanding stock options for Class A common stock have an exercise price of $18.94.
(in thousands)
Class B Common Stock
Shares Available for Grant
Stock Options Outstanding
Weighted Average Exercise Price
Weighted Average Remaining Contractual Life (years)
Aggregate Intrinsic Value
Balances at December 31, 20201,308,167 13,915,604 $1.09 8.91$79,334 
Option granted
(194,706)194,706 $2.36 — 
Options forfeited and cancelled1,901,065 (1,901,065)$1.45 — 
Options exercised
— (499,220)$0.95 — 
Balances at March 31, 2021
3,014,526 11,710,025 $1.06 8.60$157,455 
Options exercisable at March 31, 2021
5,552,271 $0.80 8.18$76,135 
Summary of Exercise Price Range
As of December 31, 2020, stock options outstanding for Class B common stock consisted of the following:
Exercise PricesClass B Stock Options OutstandingWeighted- Average Remaining Contractual Life (years)
$0.18941,834,0287.27
$0.596050,0007.82
$0.94859,611,6338.98
$2.35642,419,9439.89
Schedule of Valuation Assumptions
The estimated fair value of the stock option awards as of December 31, 2020, 2019, and 2018 was estimated using the Black-Scholes option pricing model with the following assumptions:
202020192018
Expected volatility65.80%60.00%70.00%
Expected term (in years)
0.50-1.49
3.00–5.00
4.00
Risk-free interest rate0.10%
1.40%–1.43%
2.68%
Dividend yield———
Fair value of Class A common stock$679.31$94.85$59.60
Fair value of Class B common stock$6.7931$0.9485$0.5960
The estimated fair value of the stock option awards as of March 31, 2021 and March 31, 2020, was estimated using the Black-Scholes option pricing model with the following assumptions:
Three Months ended March 31,
(in thousands)20212020
Expected volatility
68.50%- 75.60%
68.30%-73.30%
Expected term (in years)
0.50- 1.75
3.00-5.00
Risk-free interest rate
0.05%- 0.16%
0.29%-0.37%
Dividend yield
0.00 %0.00 %
Fair value of Class A common stock
$565.85-$1,549.43
$85.42-$97.58
Fair value of Class B common stock
$5.66-$15.49
$0.85-$0.98