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

Share equity incentive plans (Tables)

v3.22.1
Share equity incentive plans (Tables)
 12 Months Ended
Dec. 31, 2021
Share-based Payment Arrangement [Abstract]  
Schedule of options activity
The following table summarizes share option activity for the years ended December 31, 2020 and 2021 :
December 31,
2020 2021
Number
of
Options		 Weighted-Average Exercise Price Weighted-
Average remaining Contractual Term
(in years)		 Number
of
Options		 Weighted-Average Exercise Price Weighted-
Average remaining Contractual Term
(in years)
Outstanding at the beginning of the year 9,887,125  $ 1.77  6.40 9,874,165  $ 1.99  6.83
Granted 2,581,893  2.56  —  1,708,500  3.71  — 
Exercised (1,656,994) 0.87  —  (1,301,233) 0.94  — 
Forfeited (937,859) 3.22  —  (300,038) 3.71  — 
Outstanding at the end of the year 9,874,165  $ 1.99  6.83 9,981,394  $ 2.37  6.65
Exercisable at the end of the year 5,624,558  $ 1.58  5.30 6,150,329  $ 1.99  5.54
Schedule of valuation assumptions
The fair value of these options was estimated on the grant date based on the following assumptions:
December 31,
2019 2020 2021
Volatility 50% 50% 60%
Expected term in years 6.25 6.25 6.25
Risk-free interest rate
1.55%-2.54%
0.12% - 1.47%
0.55% -0.92%
Estimated fair value of underlying ordinary shares
2.17-3.44
3.34 - 7.6
12.92- 24.08
Dividend yield 0% 0% 0%
Schedule of options by exercise price
The following table summarizes information about share options outstanding under the 2012 Plan and 2021 Plan as of December 31, 2020 and 2021:
Options Outstanding Options Exercisable
Number Outstanding at December 31, 2020 Weighted Average Remaining Contractual Life (Years) Number Exercisable at December 31, 2020 Weighted Average Remaining Contractual Life (Years)
$0.0003 589,000  2.58 589,000  2.58
$0.01 355,700  9.85 —  0
$0.40 1,264,241  3.18 1,264,241  3.18
$0.60 69,286  4.46 69,286  4.46
$0.652 229,521  0.16 229,521  0.16
$1.43 401,500  9.71 —  0
$1.90 738,530  4.74 738,530  4.74
$2.17 1,604,121  7.12 1,134,964  7.01
$2.25 126,224  5.70 126,224  5.70
$2.388 566,900  9.81 —  0
$2.71 2,761,792  7.99 1,353,667  7.94
$3.44 302,250  8.72 92,125  8.68
$3.57 775,500  9.60 27,000  9.34
$5.97 89,600  9.91 —  0
Total 9,874,165  6.83 5,624,558  5.30
Aggregate intrinsic value $ 55,419  $ 33,818 
Options Outstanding Options Exercisable
Number Outstanding at December 31, 2021 Weighted Average Remaining Contractual Life (Years) Number Exercisable at December 31, 2021 Weighted Average Remaining Contractual Life (Years)
$0.0003 89,000  1.58 89,000  1.58
$0.01 355,700  8.85 155,618  8.85
$0.40 1,149,241  2.05 1,149,241  2.05
$0.60 65,286  3.45 65,286  3.45
$1.43 401,500  8.71 125,468  8.71
$1.90 594,320  3.73 594,320  3.73
$2.17 1,396,871  6.15 1,235,090  6.12
$2.25 117,224  3.24 117,224  3.24
$2.388 489,700  8.69 129,400  8.19
$2.71 2,655,489  6.85 1,936,746  6.76
$3.04 1,401,700  9.08 131,250  9.08
$3.44 248,501  7.36 140,191  6.98
$3.57 748,562  8.60 261,308  8.54
$5.97 79,500  8.91 20,187  8.91
$7.60 184,800  9.08 —  0
$24.08 4,000  9.61 —  0
Total 9,981,394  6.65 6,150,329  5.54
Aggregate intrinsic value $ 155,136  $ 97,907 
Schedule of RSU activity
The following table summarizes RSU activity for the years ended December 31, 2020 and 2021:
December 31,
2020		 The weighted average fair value at grant date December 31,
2021		 The weighted average fair value at grant date
(Number of units) (Number of units)
Outstanding at the beginning of the year
—  $ —  132,500  $ 7.60 
Granted 132,500  7.60  880,022  20.41 
Vested —  —  (10,354) 11.15 
Forfeited —  —  (34,371) 14.46 
Outstanding at the end of the year
132,500  7.60  967,797  18.97 
Unvested RSUs 132,500  7.60  967,797  18.97 
Schedule of expenses capitalized
The following table summarizes the share-based compensation, including the share-based compensation of the secondary transactions described in Note 12, recorded in each line item in the accompanying consolidated states of comprehensive income (loss):
Year Ended December 31,
2019 2020 2021
Cost of revenue $ 38  $ 40  $ 211 
Research and development 452  1,107  4,058 
Sales and marketing 427  821  3,450 
General and administrative 1,087  2,832  3,452 
Total $ 2,004  $ 4,800  $ 11,171