Stock-Based Compensation (Tables)
|
9 Months Ended |
12 Months Ended |
Sep. 30, 2021 |
Dec. 31, 2020 |
| Stock-Based Compensation |
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|
| Schedule of stock option activity |
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|
Stock Option |
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|
Weighted Average |
|
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|
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|
Remaining |
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|
Number of |
|
Weighted Average |
|
Contractual Life |
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|
Aggregate |
|
|
Options |
|
Exercise Price |
|
(Years) |
|
|
Intrinsic Value |
Outstanding as of December 31, 2020 |
|
14,713 |
|
$ |
4.47 |
|
7.79 |
|
$ |
181,914 |
Options granted |
|
1,707 |
|
|
30.95 |
|
— |
|
|
— |
Options exercised |
|
(1,710) |
|
|
3.28 |
|
— |
|
|
— |
Options forfeited |
|
(271) |
|
|
7.15 |
|
— |
|
|
— |
Outstanding as of September 30, 2021 |
|
14,439 |
|
$ |
7.70 |
|
7.41 |
|
$ |
383,974 |
Options expected to vest as of September 30, 2021 |
|
4,136 |
|
$ |
16.20 |
|
8.90 |
|
$ |
75,637 |
Options exercisable as of September 30, 2021 |
|
6,404 |
|
$ |
3.68 |
|
6.70 |
|
$ |
195,205 |
|
|
|
|
|
|
|
|
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|
Stock Option |
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Weighted |
|
|
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|
|
|
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|
|
Average |
|
|
|
|
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|
|
Weighted |
|
Remaining |
|
|
|
|
|
Number of |
|
Average |
|
Contractual Life |
|
Aggregate |
|
|
Options |
|
Exercise Price |
|
(Years) |
|
Intrinsic Value |
Outstanding as of January 1, 2018 |
|
15,180 |
|
$ |
2.11 |
|
9.85 |
|
$ |
— |
Options granted |
|
3,995 |
|
|
2.33 |
|
— |
|
|
— |
Options exercised |
|
2 |
|
|
2.00 |
|
— |
|
|
— |
Options forfeited |
|
631 |
|
|
2.67 |
|
— |
|
|
— |
Outstanding as of December 31, 2018 |
|
18,542 |
|
|
2.14 |
|
8.93 |
|
|
5,277 |
Options granted |
|
1,563 |
|
|
5.04 |
|
— |
|
|
— |
Options exercised |
|
65 |
|
|
2.43 |
|
— |
|
|
— |
Options forfeited |
|
384 |
|
|
2.90 |
|
— |
|
|
— |
Outstanding as of December 31, 2019 |
|
19,656 |
|
|
2.35 |
|
8.04 |
|
$ |
86,024 |
Options granted |
|
4,293 |
|
$ |
9.19 |
|
— |
|
|
— |
Options exercised |
|
254 |
|
$ |
2.89 |
|
— |
|
|
— |
Options forfeited |
|
8,982 |
|
$ |
2.13 |
|
— |
|
|
— |
Outstanding as of December 31, 2020 |
|
14,713 |
|
|
4.47 |
|
7.79 |
|
$ |
181,914 |
Options expected to vest as of December 31, 2020 |
|
5,269 |
|
$ |
7.17 |
|
— |
|
|
50,983 |
Options exercisable as of December 31, 2020 |
|
5,480 |
|
$ |
2.52 |
|
— |
|
|
78,389 |
|
| Schedule of Black-Scholes-Merton option-pricing model |
|
|
|
|
|
2021 |
Risk - free interest rate (percentage) |
|
0.6. - 1.1 |
Expected term (years) |
|
5.9 - 6.1 |
Expected dividend yield (percentage) |
|
— |
Expected volatility (percentage) |
|
42.1 - 43.6 |
|
|
|
|
|
|
|
|
|
|
2020 |
|
2019 |
|
2018 |
Risk‑free interest rate (percentage) |
|
0.3 ‑ 1.6 |
|
1.6 ‑ 2.6 |
|
2.3 ‑ 3.1 |
Expected term (years) |
|
5.3 ‑ 6.3 |
|
5.6 ‑ 6.1 |
|
5.9 ‑ 6.3 |
Expected dividend yield (percentage) |
|
— |
|
— |
|
— |
Expected volatility (percentage) |
|
39.9 ‑ 44.1 |
|
35.4 ‑ 40.9 |
|
34.5 ‑ 35.4 |
|
| Schedule of restricted stock activity |
|
|
|
|
|
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|
|
Restricted Stock |
|
|
Number of |
|
Weighted Average |
|
|
Shares |
|
Grant Date Fair Value |
Outstanding as of December 31, 2020 |
|
1,261 |
|
$ |
7.74 |
Granted |
|
1,720 |
|
|
30.88 |
Vested |
|
(322) |
|
|
8.97 |
Forfeited |
|
(4) |
|
|
35.54 |
Outstanding as of September 30, 2021 |
|
2,655 |
|
$ |
22.54 |
Expected to vest as of September 30, 2021 |
|
2,330 |
|
|
|
|
|
|
|
|
|
|
|
|
Restricted Stock |
|
|
|
|
Weighted |
|
|
|
|
Average Grant |
|
|
Number of |
|
Date Fair |
|
|
Shares |
|
Value |
Outstanding as of December 31, 2019 |
|
37 |
|
$ |
3.72 |
Granted |
|
1,510 |
|
|
|
Vested |
|
185 |
|
|
|
Forfeited |
|
101 |
|
|
|
Outstanding as of December 31, 2020 |
|
1,261 |
|
$ |
7.74 |
Expected to vest as of December 31, 2020 |
|
1,149 |
|
|
|
|
| Schedule of stock-based compensation expense |
|
|
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Three Months Ended |
|
Nine Months Ended |
|
|
September 30, |
|
September 30, |
(in thousands) |
|
2021 |
|
2020 |
|
2021 |
|
2020 |
Product development |
|
$ |
1,239 |
|
$ |
212 |
|
$ |
1,953 |
|
$ |
465 |
Sales, marketing and customer support |
|
|
1,423 |
|
|
305 |
|
|
3,743 |
|
|
869 |
General and administrative |
|
|
2,186 |
|
|
1,102 |
|
|
6,404 |
|
|
2,227 |
Total stock-based compensation |
|
$ |
4,848 |
|
$ |
1,619 |
|
$ |
12,100 |
|
$ |
3,561 |
|
|
|
December 31, |
|
|
2020 |
|
2019 |
|
2018 |
Cost of Revenue |
|
$ |
— |
|
$ |
8 |
|
$ |
6 |
Product Development |
|
|
673 |
|
|
305 |
|
|
219 |
Sales, Marketing and Customer Support |
|
|
6,151 |
|
|
450 |
|
|
287 |
General and administrative |
|
|
13,703 |
|
|
917 |
|
|
930 |
Total Stock‑Based Compensation |
|
$ |
20,527 |
|
$ |
1,680 |
|
$ |
1,442 |
|
|
|
|
|
|
|
|
|
|
Non‑cash stock‑based compensation expense |
|
$ |
5,984 |
|
$ |
1,680 |
|
$ |
1,442 |
Cash‑based compensation expense(a) |
|
|
14,543 |
|
|
— |
|
|
— |
Total Stock‑Based Compensation |
|
$ |
20,527 |
|
$ |
1,680 |
|
$ |
1,442 |
| (a) |
Includes incremental cash-based compensation paid in connection with repurchased and cancelled stock options of 956 that contain both market-based and performance-based vesting conditions.
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