Quarterly report pursuant to Section 13 or 15(d)

STOCK BASED COMPENSATION (Tables)

v3.21.2
STOCK BASED COMPENSATION (Tables)
6 Months Ended
Jun. 30, 2021
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):

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

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):

    

    

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

 

(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

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

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

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

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

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