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Stock-Based Compensation (Tables)
 9 Months Ended
Sep. 30, 2021
Share-based Payment Arrangement [Abstract]  
Schedule of stock option activity
A summary of stock option activity is as follows (in thousands, except per share amounts and years):
Options
Available
for Grant
Number of
Options
Outstanding
Weighted-
Average
Exercise
Price
Per Share
Weighted-
Average
Remaining
Contractual
Term
(Years)
Aggregate
Intrinsic
Value
Balances as of December 31, 20182,190 20,578 $1.27 7.4
Options authorized
7,203 — 
Options granted
(6,897)6,897 2.77 
Options exercised
— (966)0.82 
Options cancelled and forfeited
1,598 (1,598)2.09 
Balances as of December 31, 20194,094 24,911 $1.65 7.1$34,776 
Options authorized
1,801 — 
Options granted(1)
(11,258)11,258 2.08 
Options exercised
— (907)0.85 
Options cancelled and forfeited(1)
10,562 (10,562)2.67 
Balances as of December 31, 20205,199 24,700 $1.45 6.4$83,570 
'Options vested and exercisable –December 31, 2020
17,262 $1.20 5.5$62,719 
________________
(1)Includes options that were canceled and re-granted as part of the option repricing modification, as further discussed below.
A summary of stock option activity is as follows (in thousands, except per share amounts and years):
Options
Available
for Grant		Number of
Options
Outstanding		Weighted-
Average
Exercise Price
Per Share		Weighted-
Average
Remaining
Contractual
Term (Years)		Aggregate
Intrinsic
Value
Balances as of December 31, 2020
4,330 20,574 $1.74 6.4$83,570 
Retroactive application of reverse recapitalization869 4,126 
Balance as of December 31, 2020, as converted5,199 24,700 $1.45 6.4$83,570 
Options authorized17,200 
Options exercised— (2,881)1.08 
Options cancelled in connection with termination of 2011 Plan(7,005)
Options cancelled and forfeited1,864 (1,864)2.68 
Balances as of September 30, 2021
17,258 19,955 $1.53 6.1$240,692 
Options vested and exercisable – September 30, 2021
15,369 $1.36 5.5$187,904 
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions
The following table presents the range of assumptions used to estimate the fair value of options granted during the periods presented:
Year Ended December 31
201820192020
Risk-free interest rate
2.34% - 3.08%
1.38% - 2.60%
0.24% - 1.43%
Expected term (years)
3.09 - 6.97
4.51 - 6.75
3.99 - 6.80
Volatility
44.5% - 50.6%
44.5% - 46.3%
49.0% - 54.8%
Dividend yield— %— %— %
Schedule of stock-based compensation expense
The following table summarizes stock-based compensation expense recorded in each component of costs and expenses in the Company’s consolidated statements of operations for the presented periods (in thousands):
Year Ended December 31
201820192020
Operations and support$206 $277 $299 
Marketing181 301 397 
Product development2,391 1,486 1,873 
General and administrative3,904 2,003 2,972 
Total stock-based compensation expense
$6,682 $4,067 $5,541 
The following table summarizes stock-based compensation expense recorded in each component of operating expenses in the Company’s condensed consolidated statements of operations for the presented periods (in thousands):
Three Months Ended September 30,Nine Months Ended
September 30,
2021202020212020
Operations and support$43 $100 $144 $261 
Marketing71 123 238 348 
Product development287 510 981 1,459 
General and administrative593 1,056 1,779 2,200 
Total stock-based compensation expense$994 $1,789 $3,142 $4,268