Stock-based Compensation (Tables)

9 Months Ended

12 Months Ended

Sep. 30, 2021

Dec. 31, 2020

Stock-Based Compensation

Schedule of stock option activity

A summary of stock option awards outstanding as of September 30, 2021 and changes during the nine months then ended is as follows:

		Weighted Average
	Number of Units	Exercise Price
Outstanding at January 1, 2021	7,478,736	$	0.68
Granted	3,720,500		8.18
Exercised	(1,830,071)		0.67
Forfeited	(472,211)		1.19
Outstanding at September 30, 2021	8,896,954	$	3.79

				Weighted
				Average
		Weighted		Remaining	Aggregate
	Number of	Average		Contractual	Intrinsic
	Units	Exercise Price		Term (Years)	Value
Outstanding as of January 1, 2019	4,823,893	$	1.20	8.71
Granted	1,654,000		0.82	—
Exercised	(122,560)		0.33	—
Forfeited	(1,207,259)		1.33	—
Outstanding as of January 1, 2020	5,148,074	$	1.10	8.22
Granted	4,704,932		0.52	—
Exercised	(164,886)		(0.80)	—
Forfeited	(2,209,384)		(1.26)	—
Outstanding at December 31, 2020	7,478,736	$	0.68	8.35	$	6,058,137
Exercisable at December 31, 2020	3,142,881	$	0.81	7.30	$	2,173,188

Schedule of stock based compensation expense

Total stock-based compensation expense was classified in the statements of operations for the three and nine months ended September 30, 2021 and 2020 as follows:

	Three Months Ended September 30,		Nine Months Ended September 30,
	2021	2020	2021	2020
Cost of revenues	129,464	4,381	346,516	(70,058)
Selling, general and administrative	868,515	100,960	1,566,580	71,847
Total stock-based compensation expense	997,979	105,341	1,913,096	1,789

	2020		2019
Cost of revenues	$	(64,919)	$	65,096
Selling, general and administrative		186,950		327,470
Total stock-based compensation expense	$	122,032	$	392,566

Schedule of stock options vested

	2020		2019
Total grant date fair value of stock options vested	$	533,089	$	643,425

Schedule of assumptions of valuing the stock options

	2020		2019
Expected term		6.25 years		2.25 years – 6.25 years
Weighted-average grant date fair value per stock option granted	$	0.23	$	0.28
Risk-free interest rate		0.4% – 1.4%		1.1% – 3.0%
Expected volatility		43.5% – 46.4%		32.3% – 37.9%
Dividend yield		0%		0%