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Stock-Based Compensation (Tables)

9 Months Ended

12 Months Ended

Sep. 30, 2021

Dec. 31, 2020

Share-based Payment Arrangement [Abstract]

The following table shows stock-based compensation expense by where the stock-based compensation expense is recorded in the Company’s unaudited condensed consolidated statement of operations:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2021		2020			2021		2020
Cost of revenue	$	7	$	5		$	22	$	14
Sales and marketing	100		36			245		100
Research and development	68		29			204		86
General and administrative	452		188			1,318		472
Total stock-based compensation	$	627	$	258		$	1,789	$	672

The following table shows stock-based compensation expense by where the stock-based compensation expense is recorded in the Company’s consolidated statement of operations:


	For the Year Ended December 31,
	2019		2020
Cost of revenue	$	9	$	18
Sales and marketing	53		166
Research and development	58		113
General and administrative	384		782
Total stock-based compensation	$	504	$	1,079

Weighted-Average Assumptions to Determine Fair Value

The weighted-average assumptions utilized to determine the fair value of options granted to employees are presented in the following table:


	Three Months Ended September 30,			Nine Months Ended September 30,
	2021	2020			2021		2020
Expected volatility	N/A	52.0	%		52.0	%	49.7	%
Weighted-average risk-free interest rate	N/A	0.33	%		1.04	%	0.80	%
Expected dividend yield	N/A	—			—		—
Expected life – in years	N/A	6			6		6

The weighted-average assumptions utilized to determine the fair value of options granted to employees are presented in the following table:


	Year Ended December 31,
	2019		2020
Expected volatility	45.7	%	51.0	%
Weighted-average risk-free interest rate	1.92	%	0.71	%
Expected dividend yield	—		—
Expected life – in years	6		6

Summary of Option Activity

A summary of the Company’s option activity as of September 30, 2021, which all occurred under the 2019 Plan and the 2021 Plan, and changes during the nine months then ended are as follows:


	Number of Options	Weighted-Average Exercise Price (per share)		Weighted-Average Remaining Contractual Term (in years)
Outstanding at December 31, 2020	7,611,258	$	1.37	8.40
Granted	229,053	12.37
Exercised	(577,153)	1.18
Forfeited	(198,213)	2.35
Outstanding at September 30, 2021	7,064,945	1.72		7.84
Options exercisable at September 30, 2021	3,346,067	1.02		7.99

A summary of option activity under the Plan as of December 31, 2020, and changes during the year then ended are as follows:


	Number of Options	Weighted-Average Exercise Price (per share)		Weighted-Average Remaining Contractual Term (in years)
Outstanding at December 31, 2019	5,963,100	$	1.00	9.04
Granted	2,181,900	2.22
Exercised	(457,341)	0.55
Forfeited	(76,401)	1.23
Outstanding at December 31, 2020	7,611,258	1.37		8.40
Options exercisable at December 31, 2020	2,804,358	0.87		7.60

Summary of Restricted Stock Unit Activity

A summary of RSU activity under the Company’s 2021 Plan for the nine months ended September 30, 2021 is as follows:


	Number of Shares	Weighted-Average Grant Date Fair Value	Aggregate Fair Value
Unvested balance at January 1, 2021	—	—
Granted	164,487	11.48	$	1,888
Vested	—	—
Forfeited	—	—
Unvested balance as of September 30, 2021	164,487	11.48