v3.22.0.1
STOCK-BASED COMPENSATION (Tables)
12 Months Ended
Dec. 31, 2021
Equity [Abstract]  
Share-based Payment Arrangement, Option, Activity Stock option activity as of December 31, 2021 is set forth below:
Number of
options
Weighted-
average
exercise
price
Weighted- average remaining contractual life (years)Aggregate intrinsic value
Options outstanding at January 1, 20218,365 $10.68 7.47$230,596 
Granted72 52.80 
Exercised(1,882)6.63 
Repurchased(220)4.81 
Forfeited and expired(80)14.75 
Options outstanding at December 31, 20216,255 $12.53 6.92$585,339 
Options exercisable at December 31, 20214,420 $10.61 6.41$422,076 
Share-based Payment Arrangement, Option, Valuation Assumptions The fair value of each option grant is estimated on the date of grant using the Black-Scholes option pricing model with the following assumptions:
20212020
Risk-free interest rate
1.04 – 1.14%
0.32 – 0.68%
Expected life5.90 years6.01 years
Expected volatility
48.90 – 49.12%
45.50 – 49.38%
Dividend yield—%—%
Fair value of common stock
$38.08 – $52.80
$14.42 – $38.08
Share-based Payment Arrangement, RSU, Activity
RSU activity as of December 31, 2021 is set forth below:
Restricted stock unitsWeighted-
average
grant date fair value per share
Outstanding at January 1, 202134 $38.08 
Granted787 77.41 
Released(79)59.76 
Forfeited(12)99.06 
Outstanding at December 31, 2021
730 $77.09 
Share-based Payment Arrangement, Payment Award
TrancheCompany Stock Price HurdleNumber of RSUs Eligible to Vest
1$127.50 90 
2$153.00 90 
3$178.50 90 
4$204.00 180 
5$255.00 180 
6$306.00 180 
7$357.00 180 
8$408.00 180 
9$612.00 270 
10$816.00 360 
The weighted-average grant date fair value of the Founder Awards was estimated to be $61.56 per share using the below inputs.
InputAssumption
Valuation DateJune 28, 2021
Risk-free interest rate1.48%
Expected life9.98
Expected volatility51.67%
Dividend yield0.00%
Fair value of common stock$95.00
Share-based Payment Arrangement, Expensed, Amount
Stock based compensation expense is included in the Consolidated Statement of Operations and Comprehensive Loss as shown in the following table:
Year Ended December 31,
20212020
Cost of revenues$$
Research and development9,298 2,773 
Sales and marketing881 348 
General and administrative30,617 13,904 
Total$40,804 $17,031