Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2022

Share-Based Payment Arrangement [Abstract]

Schedule of Stock Option Activity

A summary of the Company’s option activity during the year ended December 31, 2022 was as follows (in thousands, except share and per share amounts):

						Weighted-
				Weighted-		Average
				Average		Remaining		Aggregate
	Options			Exercise Price		Contractual		Intrinsic
	Outstanding			per Share		Life (years)		Value
Outstanding at December 31, 2021		6,849,910		$	5.05		4.98	$	205,010
Options granted		—
Options exercised		(2,480,516	)		0.60
Options forfeited		(213,754	)		8.66
Outstanding at December 31, 2022		4,155,640		$	7.52		5.87	$	4,420
Exercisable at December 31, 2022		3,280,611		$	7.22		5.71	$	4,388

Schedule of Stock Option Grant Using Black-Scholes Option Pricing Model With Assumptions

The fair value of options granted during the years ended December 31, 2021 and 2020 was estimated using the Black-Scholes option-pricing model with the following weighted-average assumptions:

	Year Ended December 31,
	2021			2020
Dividend yield		0.0	%		0.0	%
Risk-free interest rate	0.3 % - 0.8%			0.3 % - 0.4%
Expected term (in years)		5			5
Expected volatility		38.0	%		50.0	%

Summary of RSU Activity

A summary of the Company’s RSU activity during the year ended December 31, 2022 was as follows:

				Weighted-
				Average
	Number of			Grant Date
	RSU's Outstanding			Fair Value
Awarded and unvested at December 31, 2021		513,547		$	25.93
Awards granted		1,163,428			15.28
Awards vested		(121,496	)		25.97
Awards forfeited		(193,059	)		17.48
Awarded and unvested at December 31, 2022		1,362,420		$	18.03

Summary of Stock Based Compensation Expense

Stock-based compensation expense included in the consolidated statements of operations was as follows (in

thousands):

	Year Ended December 31,
	2022		2021		2020
Cost of revenue	$	—	$	—	$	—
Operating expenses
Research and development		1,647		517		27
Sales and marketing		1,736		280		34
General and administrative		3,353		2,339		1,933
Total stock-based compensation	$	6,736	$	3,136	$	1,994