STOCK-BASED COMPENSATION (Tables)

9 Months Ended

Sep. 30, 2022

Share-Based Payment Arrangement [Abstract]

Summary of stock options and stock awards

Stock option activity is summarized as follows:

	Number of options	Weighted average exercise price
Outstanding at December 31, 2021	5,397,691	$	5.95
Granted	1,692,419	10.64
Exercised	(299,006)	4.57
Canceled and forfeited	(155,697)	9.20
Outstanding at September 30, 2022	6,635,409	$	7.13

Schedule of option fair value assumptions

The Company calculated the grant date fair value of options granted in 2022 (“2022 Grants”) utilizing a Black-Scholes model.

	2022 Grants
Strike price	$5.10	-	$10.56
Risk-free rate	1.6%	-	3.9%
Expected dividend yield	—
Expected volatility	69.6%	-	78.5%
Expected term (in years)	5	-	6