Stock-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2022

Share-Based Payment Arrangement [Abstract]

Share-based Payment Arrangement, Option, Activity

Stock option activity under the 2019 Plan, the 2021 Plan and the 2021 SIP for the six months ended June 30, 2022 is as follows:

	Number of options			Weighted average exercise price		Weighted average remaining contractual term (in years)		Aggregate intrinsic value (in thousands)
Balances at December 31, 2021		2,550,984		$	6.09		9.1	$	12,417
Options granted		1,635,285			8.24
Options exercised		(82,286	)		1.13
Options cancelled		(77,617	)		4.94
Balances at June 30, 2022		4,026,366		$	7.09		9.1	$	330
Vested and expected to vest at June 30, 2022		3,237,416		$	6.96		9.1	$	319
Exercisable at June 30, 2022		702,599		$	5.08		8.4	$	180

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions

The calculated value of option grants during the six months ended June 30, 2022 was estimated using the Black-Scholes option pricing model with the following weighted average assumptions:

	June 30, 2022
Risk free interest rate		2.1	%
Expected dividend yield		—	%
Expected term	5.04 years
Expected volatility		54.0	%

Share-based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity

A summary of the restricted stock unit activity during the six months ended June 30, 2022 is as follows:

	Restricted Stock Units		Weighted-Average Grant Date Fair Value
Unvested at December 31, 2021		—	$	—
Granted		236,290		8.44
Unvested at June 30, 2022		236,290	$	8.44

Summary of Share-based Compensation Expense

The Company recorded stock-based compensation expense in the following award type categories included within the condensed consolidated statements of operations and comprehensive loss as follows (in thousands):

	Three months ended		Six months ended
	June 30, 2022		June 30, 2022
Stock options	$	916	$	1,222
Restricted stock units		99		131
Employee stock purchase plan		103		213
Total	$	1,118	$	1,566

The Company recorded stock-based compensation expense in the following expense categories of its condensed consolidated statements of operations and comprehensive loss as follows (in thousands):
 

	Three months ended		Six months ended
	June 30, 2022		June 30, 2022
Research and development	$	179	$	256
Sales and marketing		130		173
General and administrative		809		1,137
Total	$	1,118	$	1,566