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Stock-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]  
Schedule of 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:
Year Ended December 31,
202220212020
Expected volatility53.3 %52.1 %51.0 %
Weighted-average risk-free interest rate2.72 %1.07 %0.71 %
Expected dividend yield— — — 
Expected life – in years666
Compensation expense is based on the estimated value of the awards on the grant date, and is recognized over the period from the grant date through the expected vest dates of each vesting condition. The compensation expense attributable to the acquisition-based PSU awards was estimated based on a Monte Carlo simulation model, which applied the following key assumptions:
For the Year Ended December 31, 2022
Risk-free interest rate2.07 %
Volatility70.00 %
Dividend Yield— %
Term (years)4.13
Summary of Option Activity
A summary of the Company’s option activity under 2021 Plan and the 2019 Plan as of December 31, 2022, and changes during the year then ended are as follows:
Number of OptionsWeighted-Average Exercise Price (per share)Weighted-Average Remaining Contractual Term (in years)
Outstanding at December 31, 2021
6,329,822 $2.32 8.14
Granted1,841,178 11.99 
Exercised(681,860)1.44 
Forfeited(623,875)4.28 
Outstanding at December 31, 2022
6,865,265 4.82 7.68
Options exercisable at December 31, 2022
4,162,946 1.727.02
Summary of RSU Activity
A summary of RSU activity under the Company’s 2021 Plan for the year ended December 31, 2022 is as follows:
Number of SharesWeighted-Average Grant Date Fair ValueAggregate Fair Value
Unvested balance at January 1, 2022239,936 $17.21 $4,129 
Granted1,181,782 11.70 13,827 
Vested(77,182)16.01 1,236 
Forfeited(74,793)13.25 991 
Unvested balance as of December 31, 20221,269,743$11.97 $15,194 
Summary of PSU Activity
A summary of PSU activity under the Company’s 2021 Plan for the year ended December 31, 2022 is as follows:
Number of SharesWeighted-Average Grant Date Fair ValueAggregate Fair Value
Unvested balance at January 1, 2022— $— $— 
Granted1,395,596 11.18 15,603 
Vested— — — 
Forfeited(111,976)11.05 1,237 
Unvested balance at December 31, 20221,283,620 $11.22 $14,402 
Schedule of Stock-based Compensation Expense The following table shows stock-based compensation expense by where the stock-based compensation expense is recorded by line item in the Company’s consolidated statement of operations:
For the Year Ended December 31,
202220212020
Cost of revenue$74 $37 $18 
Sales and marketing2,235 405 166 
Research and development1,123 348 113 
General and administrative3,961 1,952 782 
Total stock-based compensation$7,393 $2,742 $1,079