Stock-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2022

Share-based Payment Arrangement [Abstract]

Stock-based Compensation Expense

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 March 31,
	2022		2021
Cost of revenue	$	11	$	7
Sales and marketing	133		190
Research and development	149		67
General and administrative	639		329
Total stock-based compensation	$	932	$	593

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 March 31,
	2022		2021
Expected volatility	52.3	%	52.0	%
Weighted-average risk-free interest rate	1.60	%	0.58	%
Expected dividend yield	—		—
Expected life – in years	6		6

Summary of Option Activity

A summary of the Company’s option activity as of March 31, 2022, which all occurred under the 2019 Plan and the 2021 Plan, and changes during the three 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, 2021	6,329,822	$	2.32	8.14
Granted	87,387	15.48
Exercised	(197,828)	1.55
Forfeited	(67,540)	2.01
Outstanding at March 31, 2022	6,151,841	2.54		7.92
Options exercisable at March 31, 2022	3,645,386	1.19		7.73

Summary of Restricted Stock Unit Activity

A summary of RSU activity under the Company’s 2021 Plan for the three months ended March 31, 2022 is as follows:

	Number of Shares	Weighted-Average Grant Date Fair Value		Aggregate Fair Value
Unvested balance at January 1, 2022	239,936	$	17.21	$	4,129
Granted	937,506	10.28		9,638
Vested	(14,625)	14.00		205
Forfeited	(1,428)	20.28		29
Unvested balance as of March 31, 2022	1,161,389	$	17.18	$	19,953