Stock Based Compensation (Tables)
|
12 Months Ended |
Dec. 31, 2021 |
|---|
| Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] |
|
| Summary of Stock Option Activity |
The following is a summary of the Company’s stock option activity during the year ended December 31, 2021:
|
|
|
Number of
Options
|
|
|
Weighted
Average
Exercise
Price
|
|
|
Weighted
Average
Remaining
Life In
Years
|
|
|
Intrinsic
Value
|
|
|
Outstanding at January 1, 2021
|
|
|
550,985
|
|
|
$
|
5.67
|
|
|
|
3.2
|
|
|
$
|
3,384
|
|
|
Granted
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
Exercised
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
Forfeited
|
|
|
(25,979
|
)
|
|
|
3.63
|
|
|
|
—
|
|
|
|
—
|
|
|
Outstanding at December 31, 2021
|
|
|
525,006
|
|
|
$
|
5.77
|
|
|
|
0.7
|
|
|
$
|
—
|
|
|
Exercisable at December 31, 2021
|
|
|
525,006
|
|
|
$
|
5.77
|
|
|
|
0.7
|
|
|
$
|
—
|
|
|
| Schedule of Restricted Stock Units Activity |
A summary of the activity related to RSUs for the year ended December 31, 2021 is presented below:
|
|
|
Total
|
|
|
Weighted
Average Grant
Date Fair Value
|
|
|
Outstanding at January 1, 2021
|
|
|
1,421,168
|
|
|
$
|
6.43
|
|
|
RSUs granted
|
|
|
2,068,076
|
|
|
$
|
2.95
|
|
|
RSUs forfeited
|
|
|
(348,439
|
)
|
|
$
|
3.97
|
|
|
RSUs vested
|
|
|
(1,431,532
|
)
|
|
$
|
5.24
|
|
|
Outstanding at December 31, 2021
|
|
|
1,709,273
|
|
|
$
|
3.72
|
|
|
| Summary of Activity Related to PSUs |
A summary of the activity related to PSUs for the year ended December 31, 2021 is presented below:
|
|
|
Total
|
|
|
Weighted
Average Grant
Date Fair Value
|
|
|
Outstanding at January 1, 2021
|
|
|
—
|
|
|
$
|
—
|
|
|
PSUs granted
|
|
|
1,617,601
|
|
|
$
|
4.22
|
|
|
PSUs forfeited
|
|
|
(196,663
|
)
|
|
$
|
4.11
|
|
|
PSUs vested
|
|
|
(1,420,938
|
)
|
|
$
|
4.24
|
|
|
Outstanding at December 31, 2021
|
|
|
—
|
|
|
$
|
—
|
|
|
| Summary of Fair Values of Purchase Options Granted |
The fair values of the purchase options granted were estimated using the following assumptions:
|
|
For the Year Ended
December 31, 2021
|
|
Stock price range
|
$
|
1.80 – 2.78
|
|
|
Dividend yield
|
|
0
|
%
|
|
Expected volatility range
|
|
95 – 143
|
%
|
|
Risk-free interest rate range
|
|
0.05 – 0.09
|
%
|
|
Expected life
|
|
6 months
|
|
|
|
|
|
|
|
|
For the Year Ended
December 31, 2020
|
|
Stock price range
|
$
|
1.77 – 2.96
|
|
|
Dividend yield
|
|
0
|
%
|
|
Expected volatility range
|
|
61 – 182
|
%
|
|
Risk-free interest rate range
|
|
0.17 – 1.57
|
%
|
|
Expected life
|
|
6 months
|
|
|
|
|
|
|
|
| Summary of Stock-based Compensation Costs Recognized |
The following tables summarize total stock-based compensation costs recognized for years ended December 31, 2021 and 2020:
|
|
|
For the Years Ended December 31,
|
|
|
|
|
2021
|
|
|
2020
|
|
|
Options
|
|
$
|
284,994
|
|
|
$
|
—
|
|
|
RSUs
|
|
|
5,561,698
|
|
|
|
7,656,857
|
|
|
PSUs
|
|
|
5,831,928
|
|
|
|
(88,348
|
)
|
|
ESPP
|
|
|
252,568
|
|
|
|
329,461
|
|
|
Total
|
|
$
|
11,931,188
|
|
|
$
|
7,897,970
|
|
|
| Summary of Stock-based Compensation Reflected within Statements of Operations |
The total amount of stock-based compensation was reflected within the statements of operations as:
|
|
|
For the Years Ended December 31,
|
|
|
|
|
2021
|
|
|
2020
|
|
|
Research and development
|
|
$
|
6,582,873
|
|
|
$
|
3,933,292
|
|
|
Sales and marketing
|
|
|
3,099,232
|
|
|
|
1,504,724
|
|
|
General and administrative
|
|
|
1,964,089
|
|
|
|
2,459,954
|
|
|
Severance expense
|
|
|
284,994
|
|
|
|
—
|
|
|
Total
|
|
$
|
11,931,188
|
|
|
$
|
7,897,970
|
|
|