XML 65 R30.htm IDEA: XBRL DOCUMENT v3.22.4
Stockholders' Equity (Tables)
12 Months Ended
Dec. 31, 2022
Stockholders' Equity Note [Abstract]  
Summary of the Company has Reserved Shares of Common Stock for Future Issuances

The Company has reserved shares of common stock for future issuances as follows:

 

 

December 31,

 

 

 

2022

 

 

2021

 

Common stock options issued and outstanding

 

 

7,150,755

 

 

 

7,464,580

 

Shares available for future awards granted under the 2021 Plan

 

 

4,769,842

 

 

 

3,766,337

 

Unvested restricted stock units under the 2021 Plan

 

 

582,248

 

 

 

10,000

 

Common stock available for Employee Stock Purchase Plan

 

 

1,046,437

 

 

 

504,627

 

Total

 

 

13,549,282

 

 

 

11,745,544

 

Summary of Stock Option Activity under Stock Plans

Stock option activity under the Stock Plans is set forth below:

 

 

Outstanding Options

 

 

 

Number of
Shares

 

 

Weighted-
Average
Remaining
Contractual
Term
(in Years)

 

 

Weighted-
Average
Exercise
Price

 

Balance, December 31, 2021

 

 

7,464,580

 

 

 

6.89

 

 

$

6.36

 

    Options granted

 

1,346,553

 

 

 

 

 

 

19.39

 

    Options exercised

 

 

(1,444,626

)

 

 

 

 

 

1.50

 

    Options canceled

 

 

(215,752

)

 

 

 

 

 

13.82

 

Balance, December 31, 2022

 

 

7,150,755

 

 

7.03

 

 

$

9.57

 

Options vested and expected to vest at December 31, 2022

 

 

6,608,140

 

 

 

6.90

 

 

$

8.97

 

Options vested and exercisable at December 31, 2022

 

 

3,728,683

 

 

 

5.79

 

 

$

4.50

 

Summary of Full Value Award Activity Under Stock Plans

Full value award activity under the Stock Plans is set forth below:

 

 

Full Value Awards

 

 

 

RSUs

 

 

Weighted-Average Grant Date Fair Value

 

 

RSAs

 

 

Weighted-Average Grant Date Fair Value

 

Unvested as of December 31, 2021

 

 

10,000

 

 

$

22.13

 

 

 

19,023

 

 

$

31.50

 

  Shares or units granted

 

 

592,778

 

 

 

19.04

 

 

 

 

 

 

 

  Shares or units vested

 

 

(2,500

)

 

 

22.13

 

 

 

(6,223

)

 

 

31.50

 

  Shares or units forfeited

 

 

(18,030

)

 

 

18.92

 

 

 

 

 

 

 

Unvested as of December 31, 2022

 

 

582,248

 

 

$

19.08

 

 

 

12,800

 

 

$

31.50

 

Summary of Company Determined the Fair Value of Warrants using Black-Scholes Option Pricing Model

The Company uses the Black-Scholes option pricing model to determine the fair value of stock options at the grant dates with the following assumptions for options granted during 2022, 2021 and 2020 fiscal years:

 

 

December 31,

 

 

2022

 

2021

 

2020

Expected term (in years)

 

6.25

 

2.1-6.25

 

2.7 - 3.3

Expected volatility

 

36.05% - 37.08%

 

35.57% - 55.60%

 

37.09% - 51.29%

Risk-free interest rate

 

1.64% - 4.34%

 

0.08% - 1.39%

 

0.18% - 1.53%

Expected dividend yield

 

0.00%

 

0.00%

 

0.00%

Summary of Share-Based Compensation Expense is Reflected in the Statements of Operations and Comprehensive Loss

Stock-based compensation expense is reflected in the statements of operations and comprehensive loss as follows (in thousands):

 

 

Years Ended December 31,

 

 

 

2022

 

 

2021

 

 

2020

 

Sales and marketing expense

 

$

2,928

 

 

$

1,231

 

 

$

479

 

Research and development expense

 

 

697

 

 

 

475

 

 

 

199

 

General and administrative expense

 

 

4,486

 

 

 

1,703

 

 

 

241

 

Total

 

$

8,111

 

 

$

3,409

 

 

$

919