Stock Option Plans (Tables)

9 Months Ended

Sep. 30, 2021

Share-based Payment Arrangement [Abstract]

Schedule of restricted stock units

A summary of the Company’s RSUs as of September 30, 2021 (unaudited) is presented in the table below:

	Number of RSUs	Weighted-Average Fair Value
Balance at December 31, 2020	—	$	—
Granted	9,848,048	9.38
Vested	(2,267,295)	10.47
Forfeited	(127,507)	8.61
Balance at September 30, 2021	7,453,246	$	9.07

Schedule of estimate the value of options granted

The following table provides a range of the assumptions for shares granted in 2021:

	2021
Expected volatility	65% - 70%
Expected term (years)	0.60 - 1.90
Expected dividend yield	n/a
Risk-free interest rate	.3% - .6%

The following assumptions were used to estimate the value of options granted during the nine months ended September 30, 2021 (unaudited) and year ended December 31, 2020:

	Nine months ended September 30, 2021 (unaudited)
Forfeiture rate	26.2	%
Volatility	62.00	%
Expected term (years)	5.33
Risk-free interest rate	0.53	%
Expected dividends	—

	Year ended December 31, 2020
Forfeiture rate	19.60% - 25.76%
Volatility	47.00% - 62.00%
Expected term (years)	4.95 - 7.00
Risk-free interest rate	0.26% - 1.73%
Expected dividends	—

Schedule of activity of stock option plan

The following table summarizes the activity of the Company’s stock option plan:

	Stock Number of Options	Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Term (Years)	Aggregate Intrinsic Value (in thousands)
Outstanding as of December 31, 2020	5,931,024	$	2.61	8.10	$	70,192
Options granted	4,231	$	14.45
Options exercised	(1,095,567)	$	2.21
Options cancelled or expired and returned to plan	(1,987,158)	$	2.24
Outstanding as of September 30, 2021 (unaudited)	2,852,530	$	3.00	8.48	$	1,611
Vested and exercisable to vest as of September 30, 2021	643,414	$	2.96	8.22	$	400
Vested and expected as of September 30, 2021 (unaudited)	1,986,567	$	2.99	8.36	$	1,146

Schedule of stock-based compensation expense for employee and nonemployee options

The following table illustrates stock-based compensation expense for employee and non-employee RSUs and options for the nine months ended September 30, 2021 and 2020 (unaudited) (in thousands).

	Three Months Ended September 30,				Nine Months Ended September 30,
	2021		2020		2021		2020
	(unaudited)				(unaudited)
Cost of revenues	$	343	$	39	$	568	$	53
Research and development	1,691		219		2,321		455
Sales and marketing	693		41		832		44
Other operating expenses	5,201		127		16,228		429
Total stock-based compensation	$	7,928	$	426	$	19,949	$	981