Stock-Based Compensation Expense (Tables)
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12 Months Ended |
Dec. 31, 2021 |
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| Share-based Payment Arrangement [Abstract] |
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| Share-based Payment Arrangement, Option, Activity |
The following table summarizes stock option activity for the years ended December 31, 2021 and 2020:
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Number of Options Outstanding |
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Weighted-Average
Exercise Price Per
Share |
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Aggregate
Intrinsic Value
(in thousands) |
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Weighted-Average
Remaining
Contractual Life
(in years) |
| As of December 31, 2019 |
15,493,863 |
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$ |
3.00 |
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|
12,800 |
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|
8.07 |
| Granted |
11,191,955 |
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|
0.20 |
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| Exercised |
(4,851,991) |
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(0.18) |
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| Forfeited and canceled |
(4,704,054) |
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(0.59) |
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| Expired |
(205,365) |
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(0.69) |
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| As of December 31, 2020 |
16,924,408 |
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$ |
0.20 |
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40,909 |
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|
9.21 |
| Granted |
226,631 |
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6.36 |
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| Exercised |
(2,356,045) |
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(0.17) |
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| Forfeited and canceled |
(2,291,442) |
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(0.24) |
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| Expired |
(82,068) |
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(0.20) |
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| As of December 31, 2021 |
12,421,484 |
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$ |
0.30 |
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72,940 |
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8.21 |
| Vested and expected to vest as of December 31, 2021 |
12,421,484 |
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0.30 |
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72,940 |
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8.21 |
| Exercisable as of December 31, 2021 |
7,219,298 |
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$ |
0.22 |
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42,923 |
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8.10 |
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| Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions |
The weighted-average fair value of stock options granted was determined using the Black-Scholes-Merton option-pricing model with the following weighted-average assumptions:
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December 31, |
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2021 |
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2020 |
| Expected term (in years) |
5.91 |
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5.92 |
| Risk-free interest rate |
1.7% |
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0.7% |
| Expected volatility |
50.8% |
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46.1% |
| Expected dividend yield |
—% |
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—% |
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| Share-based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity |
The following table summarizes the activity of the other RSAs outstanding, which are subject to vesting, generally monthly over 48 months, for the years ended December 31, 2021 and 2020:
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Number
of Shares |
|
Aggregate intrinsic
value (in thousands) |
|
Weighted Average
Grant Date Fair
Value |
| Nonvested at December 31, 2019 |
707,438 |
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$ |
2,558 |
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$ |
0.22 |
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| Granted |
— |
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— |
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| Vested |
(385,875) |
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$ |
0.22 |
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| Forfeited |
— |
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— |
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| Nonvested at December 31, 2020 |
321,563 |
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$ |
768 |
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$ |
0.22 |
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| Granted |
— |
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— |
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| Vested |
(321,563) |
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$ |
0.22 |
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| Forfeited |
— |
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— |
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| Unvested at December 31, 2021 |
— |
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$ |
— |
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$ |
— |
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| Vested at December 31, 2021 |
1,582,741 |
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$ |
9,417 |
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$ |
0.22 |
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| Share-based Payment Arrangement, Expensed and Capitalized, Amount |
The following table summarizes total stock-based compensation expense for the years ended December 31, 2021 and 2020 (in thousands):
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December 31, |
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2021 |
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2020 |
| Cost of revenue |
$ |
— |
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$ |
15 |
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| Selling and marketing |
2,714 |
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|
895 |
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| Research and development |
5,182 |
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|
892 |
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| General and administrative |
78,735 |
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|
4,372 |
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| Total |
$ |
86,631 |
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$ |
6,174 |
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| Share-based Payment Arrangement, Restricted Stock Unit, Activity |
The following table summarizes the RSU activity for the year ended December 31, 2021:
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Number of
Restricted
Stock Units |
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Weighted Average
Grant Date Fair
Value |
| Balance at December 31, 2020 |
— |
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$ |
— |
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| Granted |
53,936,290 |
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|
6.88 |
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| Canceled |
(21,619) |
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$ |
(8.16) |
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| Forfeited |
(676,280) |
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$ |
(7.57) |
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| Balance at December 31, 2021 |
53,238,391 |
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$ |
6.87 |
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