Annual and transition report of foreign private issuers pursuant to Section 13 or 15(d)

Share-Based Compensation (Tables)

v3.21.1
Share-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2020
Share-based Payment Arrangement [Abstract]  
Summary of Share-Based Payment Award, Employee Stock Purchase Plan, Valuation Assumptions
The fair value of the Company’s share options granted to employees for the years ended December 31, 2020, 2019 and 2018, was estimated using the following weighted average assumptions:
 
    
Year ended December 31,
    
2020
  
2019
  
2018
Expected term, in years
   6.25    6.25    6.25
Expected volatility
   65%    65% - 70%    70% - 75%
Risk-Free interest rate
  
0.46% - 1.74%
  
1.77% - 2.65%
  
2.68% - 3.13%
Expected dividend yield
   0%    0%    0%
Summary of Share-Based Compensation Arrangements by Share-based Payment Award
    
Number of
options
    
Weighted-
average
exercise
price
    
Weighted-
average
remaining
contractual
term
(in years)
    
Aggregate
intrinsic value

(in thousands)
 
Outstanding at January 1, 2020
     7,834,282      $ 0.48        8.26      $ 18,153  
Granted
     2,581,589      $ 1.14        
Exercised
     (1,092,938    $ 0.26         $ 6,734  
Forfeited
     (833,425    $ 0.68        
Expired
     (18,750    $ 0.79        
  
 
 
          
Outstanding at December 31, 2020
     8,470,758      $ 0.68        7.92      $ 48,594  
  
 
 
    
 
 
    
 
 
    
 
 
 
Exercisable at December 31, 2020
     4,161,444      $ 0.44        7.07      $ 24,873  
  
 
 
    
 
 
    
 
 
    
 
 
 
Summary of Share-Based Payment Arrangement, Expensed and Capitalized, Amount
The share-based compensation expense recognized in the Company’s consolidated statements of operations are as follow:
 
    
Year ended December 31,
 
    
2020
    
2019
    
2018
 
Research and development
   $ 2,649      $ 1,695      $ 1002  
Sales and marketing
     338        374        285  
General and administrative
     209        102        90  
  
 
 
    
 
 
    
 
 
 
   $ 3,196      $ 2,171      $ 1,377