Stock-Based Compensation (Tables)

9 Months Ended

Sep. 30, 2023

Share-Based Payment Arrangement [Abstract]

Schedule of fair value weighted-average assumptions

The following table presents, on a weighted average basis, the assumptions used in the Black-Scholes option-pricing model to determine the grant-date fair value of stock options granted during the nine months ended September 30, 2023 and 2022:

	Nine Months Ended September 30,
	2023		2022
Risk-free interest rate	4.2	%	1.6	%
Expected term (in years)	6.1		6.1
Expected volatility	87.5	%	75.0	%
Expected dividend yield	0.0	%	0.0	%

Summary of stock option activity

The following table summarizes the Company’s stock option activity since December 31, 2022 (in thousands, except for share and per share data):

	Number of Shares	Weighted Average Exercise Price
Outstanding as of December 31, 2022	20,396,824	$	0.73
Granted	2,840,421	3.12
Exercised	(1,607,650)	0.38
Forfeited	(566,551)	1.23
Outstanding as of September 30, 2023	21,063,044	1.07

Summary of restricted stock unit activity

The following table summarizes the Company's restricted stock units activity since December 31, 2022:

	Number of Shares	Grant Date Fair Value
Outstanding as of December 31, 2022	7,501,945	$	3.54
Granted	7,917,033	3.33
Vested	(2,586,184)	3.47
Forfeited	(735,686)	3.62
Outstanding as of September 30, 2023	12,097,108	$	3.41

Summary of performance stock unit activity

The following table summarizes the Company's performance stock units activity since December 31, 2022:

	Number of Shares	Grant Date Fair Value
Outstanding as of December 31, 2022	864,000	$	2.65
Granted	—	—
Vested	(432,000)	2.65
Forfeited	(46,000)	2.66
Outstanding as of September 30, 2023	386,000	$	2.65

Schedule of allocation of share based compensation expense

Stock-based compensation expense was classified in the condensed consolidated statements of operations and comprehensive loss as follows (in thousands):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022
Cost of revenue	$	117	$	227	$	446	$	615
Research and development	1,171		1,664		3,246		3,143
Sales and marketing	1,790		2,482		6,296		6,310
General and administrative	2,493		2,152		7,315		5,445
Total stock-based compensation expense	$	5,571	$	6,525	$	17,303	$	15,513