| Equity Based Compensation Expense |
Equity-based compensation expense, consisting of service-based expense related to the equity incentive plan and expense from secondary sales of commons shares, was classified as follows in the accompanying condensed consolidated statements of operations for each of the periods presented (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended September 30, |
|
Nine Months Ended September 30, |
|
2021 |
|
2020 |
|
2021 |
|
2020 |
| Cost of revenue |
$ |
139 |
|
|
$ |
76 |
|
|
$ |
418 |
|
|
$ |
220 |
|
| Sales and marketing |
693 |
|
|
153 |
|
|
1,504 |
|
|
471 |
|
| Research and development |
575 |
|
|
496 |
|
|
2,991 |
|
|
1,163 |
|
| General and administrative |
2,547 |
|
|
3,974 |
|
|
6,134 |
|
|
8,227 |
|
| Total |
$ |
3,954 |
|
|
$ |
4,699 |
|
|
$ |
11,047 |
|
|
$ |
10,081 |
|
Equity-based compensation expense related to the equity incentive plan was as follows for each of the periods presented (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended September 30, |
|
Nine Months Ended September 30, |
|
2021 |
|
2020 |
|
2021 |
|
2020 |
| Cost of revenue |
$ |
139 |
|
|
$ |
76 |
|
|
$ |
279 |
|
|
$ |
220 |
|
| Sales and marketing |
693 |
|
|
111 |
|
|
965 |
|
|
320 |
|
| Research and development |
575 |
|
|
141 |
|
|
1,394 |
|
|
419 |
|
| General and administrative |
2,547 |
|
|
1,846 |
|
|
5,008 |
|
|
2,407 |
|
| Total |
$ |
3,954 |
|
|
$ |
2,174 |
|
|
$ |
7,646 |
|
|
$ |
3,366 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended September 30, |
|
Nine Months Ended September 30, |
|
2021 |
|
2020 |
|
2021 |
|
2020 |
| Cost of revenue |
$ |
— |
|
|
$ |
— |
|
|
$ |
139 |
|
|
$ |
— |
|
| Sales and marketing |
— |
|
|
42 |
|
|
539 |
|
|
151 |
|
| Research and development |
— |
|
|
355 |
|
|
1,597 |
|
|
744 |
|
| General and administrative |
— |
|
|
2,128 |
|
|
1,126 |
|
|
5,820 |
|
| Total |
$ |
— |
|
|
$ |
2,525 |
|
|
$ |
3,401 |
|
|
$ |
6,715 |
|
|
| Stock Option Activity |
Stock option activity was as follows for the nine months ended September 30, 2021:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Number of Options |
|
Weighted Average Exercise Price |
|
Weighted Average Remaining Contractual Life (years) |
|
Aggregate Intrinsic Value
(in thousands) |
| Outstanding as of December 31, 2020 |
9,868,915 |
|
|
$ |
3.62 |
|
|
8.13 |
|
$ |
101,070 |
|
| Exercisable as of December 31, 2020 |
4,401,361 |
|
|
$ |
1.10 |
|
|
6.78 |
|
$ |
56,117 |
|
|
|
|
|
|
|
|
|
| Granted |
— |
|
|
$ |
— |
|
|
|
|
|
| Exercised |
(965,430) |
|
|
$ |
1.31 |
|
|
|
|
|
| Forfeited and expired |
(86,219) |
|
|
$ |
2.71 |
|
|
|
|
|
| Outstanding as of March 31, 2021 |
8,817,266 |
|
|
$ |
3.90 |
|
|
8.05 |
|
$ |
99,871 |
|
| Exercisable as of March 31, 2021 |
3,888,696 |
|
|
$ |
1.21 |
|
|
6.82 |
|
$ |
54,628 |
|
|
|
|
|
|
|
|
|
| Granted |
249,067 |
|
|
$ |
9.03 |
|
|
|
|
|
| Exercised |
(1,222,578) |
|
|
$ |
0.69 |
|
|
|
|
|
| Forfeited and expired |
(221,312) |
|
|
$ |
2.18 |
|
|
|
|
|
| Outstanding as of June 30, 2021 |
7,622,443 |
|
|
$ |
4.61 |
|
|
8.16 |
|
$ |
108,961 |
|
| Exercisable as of June 30, 2021 |
2,998,911 |
|
|
$ |
1.46 |
|
|
6.82 |
|
$ |
52,187 |
|
|
|
|
|
|
|
|
|
| Granted |
2,190,442 |
|
|
$ |
16.41 |
|
|
|
|
|
| Exercised |
(689,424) |
|
|
$ |
1.61 |
|
|
|
|
|
| Forfeited and expired |
(610,163) |
|
|
$ |
3.33 |
|
|
|
|
|
| Outstanding as of September 30, 2021 |
8,513,298 |
|
|
$ |
7.98 |
|
|
8.28 |
|
$ |
103,297 |
|
| Exercisable as of September 30, 2021 |
2,590,738 |
|
|
$ |
1.53 |
|
|
6.06 |
|
$ |
48,141 |
|
|