Quarterly report pursuant to Section 13 or 15(d)

SHARE-BASED COMPENSATION (Tables)

v3.22.1
SHARE-BASED COMPENSATION (Tables)
 3 Months Ended
Mar. 31, 2022
Share-based Payment Arrangement [Abstract]  
Schedule of Share-Based Compensation Expense The following table summarizes the Company's share-based compensation expense for each of its awards, included in the
Consolidated Statements of Operations for the three months ended March 31, 2022.

Three Months Ended March 31,
2022 2021
Share-based compensation award type:
Stock Options 185  356 
RSUs 315  1,194 
Total Shared Based Compensation Expense $ 500  $ 1,550 
Schedule of Share-based Payment Arrangement, Option, Activity
The following table is a summary of options activity for the Company’s equity incentive plans for the three months ended March 31, 2022:
Stock Options
Weighted-Average
Exercise Price
  
Weighted-Average
Remaining
Contractual
Term (Years)
 Aggregate Intrinsic Value
Balance as at December 31, 2021 784,193  $ 5.91  3.68 $ — 
Granted 18,114  $ 2.76  9.75 — 
Exercised (123,300) $ 0.24  —  $ 97 
Forfeited (29,112) $ 10.00  —  — 
Expired (48,672) $ 7.64  —  — 
Balance as of March 31, 2022 601,223  $ 6.56  2.91 $ — 
Vested and expected to vest as of March 31, 2022 589,942  $ 6.49  2.92 $ — 
Vested and exercisable as of March 31, 2022 397,714  $ 6.72  2.34 $ — 
Schedule of Unvested Restricted Stock Units Roll Forward
The following table summarizes the changes in the Company’s time-based restricted share unit activity during the three months ended March 31, 2022:

Restricted Share Units
Weighted-Average
Grant Date Fair Value
Non-vested as of December 31, 2021 502,701  $ 10.93 
Granted 1,729,096  2.76 
Vested (212,185) 10.47 
Canceled/forfeited (574,473) 3.29 
Non-vested as of March 31, 2022
 1,445,139  $ 4.26 
The following table summarizes the changes in the Company’s market-based restricted share unit activity during the three months ended March 31, 2022:
Restricted Share Units
Weighted-Average
Grant Date Fair Value
Non-vested as of December 31, 2021 1,073,331  $ 12.94 
Granted —  — 
Vested (35,268) 13.91 
Canceled/forfeited (248,274) 12.69 
Non-vested as of March 31, 2022 789,789  $ 12.97 
Fair Value Measurement Inputs and Valuation Techniques The Company determined the fair value of its private warrants using the Monte Carlo simulation model. The following assumptions were used to determine the fair value of the Private Warrants as of March 31, 2022 and December 31, 2021:
As of
March 31,
2022		 December 31,
2021
Risk-free interest rate
2.44%
1.11%
Expected volatility
65%
60%
Share Price
$2.49
$3.10
Exercise Price
$11.50
$11.50
Expiration date December 18, 2025 December 18, 2025
The following table presents the weighted-average assumptions used in the Monte Carlo simulation model to determine the fair value of the market-based restricted share units granted in the three months ended March 31, 2022:

Weighted Average Assumptions
Grant date share price $ 2.76 
Risk-free interest rate 1.6  %
Expected dividend yield 0.0  %
Expected volatility 75  %
Expected life (in years)
2.78 - 2.82