Stock-Based Compensation (Tables)
|
3 Months Ended |
12 Months Ended |
Mar. 31, 2023 |
Dec. 31, 2022 |
| Share-Based Payment Arrangement [Abstract] |
|
|
| Schedule of restricted and performance stock unit activity |
|
The following inputs were used
to calculate the fair value of the options as of the date of each grant:
| |
|
Years ended
December 31, |
|
| |
|
2022 |
|
|
2021 |
|
| Expected volatility |
|
|
36.7 – 36.9% |
|
|
|
52.5 – 52.9% |
|
| Expected term (years) |
|
|
4.69 – 4.94 |
|
|
|
6.25 |
|
| Risk-free interest rate |
|
|
4.03% – 4.06% |
|
|
|
1.08% – 1.46% |
|
| Expected dividends |
|
|
0.00% |
|
|
|
0.00% |
|
|
| Schedule of options outstanding |
The following table summarizes options outstanding, as well as activity
for the periods presented (prior year amounts have been converted using the conversion ratio of 14.2069 applied in the Business Combination):
| |
|
|
|
|
Weighted |
|
|
Weighted |
|
|
|
|
| |
|
|
|
|
Average |
|
|
Average |
|
|
Aggregate |
|
| |
|
|
|
|
Grant Date |
|
|
Exercise |
|
|
Intrinsic |
|
| |
|
Options |
|
|
Fair Value |
|
|
Price |
|
|
Value |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Outstanding as of December 31, 2021 |
|
|
3,947,359 |
|
|
$ |
0.91 |
|
|
$ |
1.74 |
|
|
$ |
2,992,895 |
|
| Granted |
|
|
106,552 |
|
|
$ |
1.30 |
|
|
$ |
2.49 |
|
|
|
|
|
| Cancelled |
|
|
(75,297 |
) |
|
$ |
1.28 |
|
|
$ |
2.47 |
|
|
|
|
|
| Outstanding as of March 31, 2022 |
|
|
3,978,614 |
|
|
$ |
0.89 |
|
|
$ |
1.84 |
|
|
$ |
2,607,385 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Outstanding as of December 31, 2022 |
|
|
3,503,601 |
|
|
$ |
1.87 |
|
|
$ |
1.87 |
|
|
$ |
6,554,541 |
|
| Exercised |
|
|
(30,504 |
) |
|
$ |
0.80 |
|
|
$ |
1.94 |
|
|
|
|
|
| Cancelled |
|
|
(968 |
) |
|
$ |
0.98 |
|
|
$ |
1.94 |
|
|
|
|
|
| Outstanding as of March 31, 2023 |
|
|
3,472,129 |
|
|
$ |
0.89 |
|
|
$ |
1.87 |
|
|
$ |
3,837,080 |
|
|
The following table summarizes
options outstanding, as well as activity for the periods presented
| |
|
Shares |
|
|
Weighted
Average
Grant Date
Fair Value |
|
|
Weighted
Average
Exercise
Price |
|
|
Aggregate
Intrinsic
Value |
|
| Outstanding as of December 31, 2020 |
|
|
2,345,559 |
|
|
$ |
0.77 |
|
|
$ |
1.59 |
|
|
$ |
779,457 |
|
| Granted |
|
|
1,726,488 |
|
|
$ |
1.10 |
|
|
$ |
1.94 |
|
|
|
|
|
| Exercised |
|
|
(31,255 |
) |
|
$ |
0.47 |
|
|
$ |
1.13 |
|
|
|
|
|
| Cancelled |
|
|
(91,634 |
) |
|
$ |
0.78 |
|
|
$ |
1.88 |
|
|
|
|
|
| Outstanding as of December 31, 2021 |
|
|
3,949,158 |
|
|
$ |
0.91 |
|
|
$ |
1.74 |
|
|
$ |
2,992,895 |
|
| Granted |
|
|
166,927 |
|
|
$ |
1.31 |
|
|
$ |
2.50 |
|
|
|
|
|
| Cancelled |
|
|
(609,901 |
) |
|
$ |
0.83 |
|
|
$ |
1.83 |
|
|
|
|
|
| Outstanding as of December 31, 2022 |
|
|
3,506,184 |
|
|
$ |
1.87 |
|
|
$ |
1.87 |
|
|
$ |
6,554,541 |
|
|
| Schedule of outstanding and exercisable options |
|
| |
|
|
Options Outstanding |
|
|
Options Exercisable |
|
| Range of Excercise Prices |
|
|
As of
December 31,
2022 |
|
|
Weighted
Average
Remaining
Contractual
Life In
Years |
|
|
Weighted
Average
Exercise
Price |
|
|
As of
December 31,
2022 |
|
|
Weighted
Average
Exercise
Price |
|
| $ |
0.63 |
|
|
$ |
0.70 |
|
|
|
284,137 |
|
|
|
3.02 |
|
|
$ |
0.65 |
|
|
|
284,137 |
|
|
$ |
0.65 |
|
| $ |
1.13 |
|
|
$ |
1.46 |
|
|
|
473,796 |
|
|
|
6.01 |
|
|
$ |
1.29 |
|
|
|
370,618 |
|
|
$ |
1.25 |
|
| $ |
1.94 |
|
|
$ |
2.50 |
|
|
|
2,748,251 |
|
|
|
7.61 |
|
|
$ |
2.10 |
|
|
|
1,444,609 |
|
|
$ |
2.03 |
|
| $ |
0.63 |
|
|
$ |
2.50 |
|
|
|
3,506,184 |
|
|
|
7.02 |
|
|
$ |
1.87 |
|
|
|
2,099,364 |
|
|
$ |
1.70 |
|
|
| Schedule of restricted and performance stock unit activity |
The following is a summary of our restricted and performance stock
unit activity for the first three months of 2023:
| |
|
|
|
|
Weighted |
|
|
|
|
| |
|
|
|
|
Average |
|
|
Aggregate |
|
| |
|
|
|
|
Grant Date |
|
|
Intrinsic |
|
| |
|
Shares |
|
|
Fair Value |
|
|
Value |
|
| |
|
|
|
|
|
|
|
|
|
| Outstanding as of December 31, 2022 |
|
|
3,134,677 |
|
|
$ |
4.73 |
|
|
|
|
|
| Awarded |
|
|
48,274 |
|
|
$ |
3.48 |
|
|
|
|
|
| Forfeited |
|
|
(13,682 |
) |
|
$ |
4.73 |
|
|
|
|
|
| Outstanding as of March 31, 2023 |
|
|
3,169,269 |
|
|
$ |
4.71 |
|
|
$ |
9,428,576 |
|
|
The following tabulation summarizes certain information related to outstanding and exercisable options
| |
|
Shares |
|
|
Weighted
Average
Grant Date
Fair Value |
|
|
Aggregate
Intrinsic
Value |
|
| Outstanding as of December 31, 2021 |
|
|
— |
|
|
$ |
0.00 |
|
|
|
|
|
| Awarded |
|
|
3,149,800 |
|
|
$ |
4.73 |
|
|
|
|
|
| Forfeited |
|
|
(15,123 |
) |
|
$ |
4.73 |
|
|
|
|
|
| Outstanding as of December 31, 2022 |
|
|
3,134,677 |
|
|
$ |
4.73 |
|
|
$ |
11,723,692 |
|
|