Quarterly report pursuant to Section 13 or 15(d)

STOCK BASED COMPENSATION (Tables)

v3.21.2
STOCK BASED COMPENSATION (Tables)
9 Months Ended
Sep. 30, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Schedule of option activity

    

    

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, 2021

19,553

$

1.53

7.75

$

306,408

Granted

 

$

 

Exercised

 

(4,462)

$

1.17

 

Forfeited/expired

 

(591)

$

1.45

 

Outstanding at September 30, 2021

 

14,500

$

1.64

 

7.32

$

80,166

Options vested at September 30, 2021

 

9,062

$

1.72

 

6.50

$

49,349

Options vested or expected to vest at September 30, 2021

 

13,942

$

1.65

 

7.26

$

76,947

Schedule of RSU activity

RSU activity under the 2020 Plan for the nine months ended September 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

7,983

$ 12.53

Vested

(304)

$ 11.63

Cancelled/Forfeited

(51)

$ 13.01

Balance of unvested shares as of September 30, 2021

8,311

$ 12.24

RSU activity under the Plan

The activity for stock subject to vesting as of September 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

280

$ 4.08

Issuance of additional shares

 

476

 

$ 8.78

Vested

 

(408)

 

$ 6.84

Balance of unvested shares as of September 30, 2021

 

348

 

$ 7.27

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):

Three Months Ended September 30, 

Nine Months Ended September 30, 

2021

    

2020

    

2021

    

2020

Research and development

$

4,450

$

893

$

7,205

$

2,176

General and administrative expense

 

3,138

 

616

 

5,332

 

1,070

Sales and marketing expense

 

1,732

 

294

 

2,653

 

715

Cost of sales

 

631

 

92

 

977

 

267

Total stock-based compensation expenses

$

9,951

$

1,895

$

16,167

$

4,228

Consultant  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Schedule of assumptions using Black-Scholes option-pricing model

Nine Months Ended

September 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

Employee  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Schedule of assumptions using Black-Scholes option-pricing model

Three Months Ended

 

Nine Months Ended

 

September 30, 2020

 

September 30, 2020

 

Risk‑free interest rate

0.3 % – 1.7

%

0.3 % – 1.7

%

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