STOCK BASED COMPENSATION (Tables)
|
6 Months Ended |
12 Months Ended |
Jun. 30, 2021 |
Dec. 31, 2020 |
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] |
|
|
| Schedule of stock-based compensation expense |
Total stock-based compensation expense related to all of the Company’s stock-based awards granted is reported in the condensed consolidated statements of operations as follows (in thousands):
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|
|
|
|
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|
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|
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Three Months Ended June 30, |
|
Six Months Ended June 30, |
|
|
2021 |
|
2020 |
|
2021 |
|
2020 |
Research and development |
|
$ |
1,838 |
|
$ |
569 |
|
$ |
2,755 |
|
$ |
1,283 |
General and administrative expense |
|
|
1,355 |
|
|
217 |
|
|
2,194 |
|
|
454 |
Sales and marketing expense |
|
|
577 |
|
|
213 |
|
|
921 |
|
|
421 |
Cost of sales |
|
|
229 |
|
|
75 |
|
|
346 |
|
|
175 |
Total stock-based compensation expenses |
|
$ |
3,999 |
|
$ |
1,074 |
|
$ |
6,216 |
|
$ |
2,333 |
|
Total stock-based compensation expense related to all of the Company’s stock-based awards granted is reported in the consolidated statements of operations as follows (in thousands):
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|
|
|
|
|
|
|
|
Years Ended December 31, |
|
|
2020 |
|
2019 |
Research and development |
|
$ |
3,276 |
|
$ |
2,713 |
General and administrative expense |
|
|
3,464 |
|
|
941 |
Sales and marketing expense |
|
|
894 |
|
|
1,373 |
Cost of sales |
|
|
372 |
|
|
188 |
Total stock-based compensation expenses |
|
$ |
8,006 |
|
$ |
5,215 |
|
| Schedule of option activity |
There were 21,810,237 shares available for award under the 2020 Plan at June 30, 2021. The option activity of the Plans for the six months ended June 30, 2021, is as follows (shares in thousands):
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|
|
Weighted-Average |
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|
|
|
|
|
|
Weighted-Average |
|
Remaining |
|
Aggregate |
|
|
Number of |
|
Exercise Price |
|
Contractual Term |
|
Intrinsic Value |
|
|
Shares |
|
per Share |
|
(in years) |
|
(in thousands) |
Outstanding at January 1, 2021 |
|
19,553 |
|
$ |
1.53 |
|
7.75 |
|
$ |
306,408 |
Granted |
|
— |
|
$ |
— |
|
|
|
|
|
Exercised |
|
(2,846) |
|
$ |
1.29 |
|
|
|
|
|
Forfeited/expired |
|
(313) |
|
$ |
1.43 |
|
|
|
|
|
Outstanding at June 30, 2021 |
|
16,394 |
|
$ |
1.57 |
|
7.40 |
|
$ |
162,737 |
Options vested at June 30, 2021 |
|
9,451 |
|
$ |
1.62 |
|
6.27 |
|
$ |
93,385 |
Options vested or expected to vest at June 30, 2021 |
|
15,807 |
|
$ |
1.58 |
|
7.34 |
|
$ |
156,825 |
|
There were 14,379,052 shares available for award under the 2020 Plan at December 31, 2020. The option activity of the 2015 Plan and Make Plan for the year ended December 31, 2020, is as follows (shares in thousands):
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted-Average |
|
|
|
|
|
|
|
Weighted-Average |
|
Remaining |
|
Aggregate |
|
|
Number of |
|
Exercise Price |
|
Contractual Term |
|
Intrinsic Value |
|
|
Shares |
|
per Share |
|
(in years) |
|
(in thousands) |
Outstanding at January 1, 2020 |
|
18,072 |
|
$ |
2.01 |
|
7.84 |
|
$ |
24,045 |
Granted |
|
8,463 |
|
$ |
1.51 |
|
|
|
|
|
Exercised |
|
(522) |
|
$ |
0.62 |
|
|
|
|
|
Forfeited/expired |
|
(6,460) |
|
$ |
2.92 |
|
|
|
|
|
Outstanding at December 31, 2020 |
|
19,553 |
|
$ |
1.53 |
|
7.75 |
|
$ |
306,408 |
Options vested at December 31, 2020 |
|
10,905 |
|
$ |
1.53 |
|
6.52 |
|
$ |
170,868 |
Options vested or expected to vest at December 31, 2020 |
|
18,818 |
|
$ |
1.53 |
|
7.69 |
|
$ |
294,824 |
|
| Schedule of RSU activity |
RSU activity under the 2020 Plan for the six months ended June 30, 2021 is as follows (shares in thousands):
|
|
|
|
|
|
|
Shares Subject |
|
Weighted-Average |
|
|
to Vesting |
|
Grant Date Fair Value |
Balance of unvested shares as of January 1, 2021 |
|
683 |
|
$ 8.02 |
Granted |
|
4,461 |
|
$ 15.38 |
Vested |
|
(44) |
|
$ 8.13 |
Cancelled/Forfeited |
|
(5) |
|
$ 7.98 |
Balance of unvested shares as of June 30, 2021 |
|
5,095 |
|
$ 14.52 |
|
RSU activity under the 2020 Plan for the year ended December 31, 2020 is as follows (shares in thousands):
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|
|
|
|
|
|
|
Shares subject |
|
Weighted Average |
|
|
to Vesting |
|
Grant Date Fair Value |
Balance of unvested shares as of January 1, 2020 |
|
— |
|
|
— |
Granted |
|
683 |
|
$ |
8.02 |
Vested |
|
— |
|
|
— |
Balance of unvested shares as of December 31, 2020 |
|
683 |
|
$ |
8.02 |
|
| Consultant |
|
|
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] |
|
|
| Schedule of assumptions using Black-Scholes option-pricing model |
|
|
|
|
|
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|
Six Months Ended |
|
|
|
June 30, 2020 |
|
Risk‑free interest rate |
|
|
0.8 |
% |
Expected volatility |
|
|
54.3 |
% |
Expected life (in years) |
|
|
10.0 |
|
Expected dividend yield |
|
|
— |
|
Fair value of Common Stock |
|
$ |
3.34 |
|
|
|
|
|
|
|
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|
Years Ended December 31, |
|
|
|
2020 |
|
2019 |
|
Risk‑free interest rate |
|
|
0.6% – 0.8 |
% |
|
1.4% – 3.1 |
% |
Expected volatility |
|
|
54.3% – 54.8 |
% |
|
52.4% – 61.5 |
% |
Expected life (in years) |
|
|
9.4 – 10.0 |
|
|
6.2 – 10.0 |
|
Expected dividend yield |
|
|
— |
|
|
— |
|
Fair value of Common Stock |
|
$ |
1.40 – 7.98 |
|
$ |
3.34 |
|
|
| Employee |
|
|
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] |
|
|
| Schedule of assumptions using Black-Scholes option-pricing model |
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Three Months Ended |
|
Six Months Ended |
|
|
|
June 30, 2020 |
|
June 30, 2020 |
|
Risk‑free interest rate |
|
|
0.4 % – 0.9 |
% |
|
0.4 % – 0.9 |
% |
Expected volatility |
|
|
52.7 % – 54.2 |
% |
|
52.7 % – 54.2 |
% |
Expected life (in years) |
|
|
5.9 – 6.3 |
|
|
5.9 – 6.3 |
|
Expected dividend yield |
|
|
— |
|
|
— |
|
Fair value of Common Stock |
|
$ |
3.34 |
|
$ |
3.34 |
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|
Years Ended December 31, |
|
|
|
2020 |
|
2019 |
|
Risk‑free interest rate |
|
|
0.3% – 1.7 |
% |
|
1.7% – 2.6 |
% |
Expected volatility |
|
|
52.7% – 54.2 |
% |
|
52.7% – 53.6 |
% |
Expected life (in years) |
|
|
5.9 – 6.3 |
|
|
5.6 – 6.1 |
|
Expected dividend yield |
|
|
— |
|
|
— |
|
Fair value of Common Stock |
|
$ |
1.40 – 7.98 |
|
$ |
3.34 |
|
|