Stock-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2022

Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]

Summary of Grant-date Fair Value of Stock Options Granted

The assumptions that the Company used to determine the grant-date fair value of stock options granted were as follows, presented on a weighted-average basis:

	Six Months Ended June 30, 2022
Expected option life (years)		6.1
Risk-free interest rate		3.39	%
Expected volatility		57.53	%
Expected dividend yield		—	%

Summary of Stock Option Activity

The following table summarizes the Company’s stock option activity for the six months ended June 30, 2022:

	Number of Options			Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Term (Years)		Aggregate Intrinsic Value (in thousands)
Outstanding as of December 31, 2021		2,689,935		$	0.59			$	5,514
Granted		450,000			3.72
Exercised		(1,385,310	)		0.59
Cancelled or forfeited		(136,184	)		0.59
Outstanding as of June 30, 2022		1,618,441		$	1.10		9.3	$	2,487
Exercisable as of June 30, 2022		246,128		$	0.59		8.9	$	505

Summary of Stock-based Compensation Expense

Stock-based compensation expense was allocated as follows:

	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Cost of revenue	$	511	$	18,749	$	925	$	19,082
Research and development		2,212		380,303		6,010		389,066
General and administrative		54,016		625,392		92,360		630,174
Total stock-based compensation	$	56,739	$	1,024,444	$	99,295	$	1,038,322