Quarterly report pursuant to Section 13 or 15(d)

Equity Incentive Plans and Stock-Based Compensation (Tables)

v3.23.1
Equity Incentive Plans and Stock-Based Compensation (Tables)
 3 Months Ended
Mar. 31, 2023
Share-Based Payment Arrangement [Abstract]  
Stock Option Plan Activity
Activity under the 2021 EIP is set forth below:
Options Weighted-Average Exercise Price Weighted-Average Remaining
Contractual Term
in years
(In thousands) (Per share data) (Years)
Outstanding as of December 31, 2021
21,191  $ 0.58  8.2
Granted —  $ — 
Exercised (325) $ 0.47 
Forfeited or expired (79) $ 5.50 
Outstanding as of March 31, 2022
20,787  $ 0.56  8.0
Options vested and expected to vest as of March 31, 2022
 20,787  $ 0.56 
Vested and exercisable as of March 31, 2022
 10,306  $ 0.62 
Outstanding as of December 31, 2022
16,960  $ 0.54  7.3
Granted —  $ — 
Exercised (1,186) $ 0.26 
Forfeited or expired (385) $ 0.63 
Outstanding as of March 31, 2023
15,389  $ 0.56  7.0
Options vested and expected to vest as of March 31, 2023
 15,389  $ 0.56 
Vested and exercisable as of March 31, 2023
 10,800  $ 0.67 
Schedule of Nonvested Restricted Stock Units Activity The following table summarizes outstanding and expected to vest RSUs as of March 31, 2023 and their activity during the three months ended March 31, 2023:
Number of Shares Weighted-Average Grant Date Fair Value Aggregate Intrinsic Value
(In thousands) (Per share data) (In thousands)
Balance as of December 31, 2022
 9,623  $ 4.47  $ 17,225 
Granted 4,180  2.11  8,819 
Released (400) 5.55  1,300 
Cancelled (948) 4.37  2,520 
Balance as of March 31, 2023
12,455  $ 3.65  $ 28,274 
Expected to vest as of March 31, 2023
 12,455  $ 3.65  $ 28,274 
Schedule of Stock-Based Compensation Expense
The following sets forth the total stock-based compensation expense by type of award included in the statements of operations:
Three Months Ended March 31,
2023 2022
(In thousands)
Restricted stock units $ 4,058  $ 2,440 
Stock options 749  575 
Earnout shares - employees 1,428  1,942 
$ 6,235  $ 4,957 
The following sets forth the total stock-based compensation expense for the stock options and RSUs included in the statements of operations:
Three Months Ended March 31,
2023 2022
(In thousands)
Research and development $ 2,933  $ 2,591 
Selling and marketing 1,495  1,113 
General and administrative 1,807  1,253 
$ 6,235  $ 4,957