Stock-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2022

Share-Based Payment Arrangement [Abstract]

Schedule of Stock Option Activity

A summary of the Company’s option activity during the six months ended June 30, 2022 was as follows (in thousands, except share and per share amounts):

						Weighted-
				Weighted-		Average
				Average		Remaining		Aggregate
	Options			Exercise Price		Contractual		Intrinsic
	Outstanding			per Share		Life (years)		Value
Outstanding at December 31, 2021		6,849,910		$	5.05		4.98	$	205,010
Options granted		—
Options exercised		(1,977,110	)		0.15
Options forfeited		(7,417	)		8.66
Outstanding at June 30, 2022		4,865,383		$	7.04		6.09	$	30,817
Exercisable at June 30, 2022		3,405,256		$	6.35		5.64	$	23,915

Schedule of Stock Option Grant Using Black-Scholes Option Pricing Model With Assumptions

The fair value of options granted during the three and six months ended June 30, 2021 was estimated using the Black-Scholes option-pricing model with the following weighted-average assumptions:

	Three Months Ended June 30,			Six Months Ended June 30,
	2021			2021
Dividend yield		0.0	%		0.0	%
Risk-free interest rate		0.8	%	0.3 % - 0.8%
Expected term (in years)		5			5
Expected volatility		38.0	%		38.0	%

Summary of RSU Activity

A summary of the Company’s RSU activity during the six months ended June 30, 2022 was as follows:

				Weighted-
				Average
	Number of			Grant Date
	RSU's Outstanding			Fair Value
Awarded and unvested at December 31, 2021		513,547		$	25.93
Awards granted		592,373			16.11
Awards vested		(3,873	)		29.31
Awards forfeited		(34,085	)		25.93
Awarded and unvested at June 30, 2022		1,067,962		$	20.47

Summary of Stock Based Compensation Expense

Stock-based compensation expense included in the condensed consolidated statements of operations was as follows (in thousands):

	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Cost of revenue	$	—	$	—	$	—	$	—
Operating expenses
Research and development		288		15		573		31
Sales and marketing		227		19		450		36
General and administrative		829		534		1,597		1,064
Total stock-based compensation	$	1,344	$	568	$	2,620	$	1,131