Annual report pursuant to Section 13 and 15(d)

Summary of Significant Accounting Policies (Tables)

v3.22.0.1
Summary of Significant Accounting Policies (Tables)
12 Months Ended
Dec. 31, 2021
Accounting Policies [Abstract]  
Schedule of Bad Debt Allowances
Bad debt allowances consisted of the following (in thousands):
December 31,
2021 2020
Balance, beginning of period $ 159  $ 14 
Additions 34  147 
Reversal of bad debt (133) — 
Write-offs (26) (2)
Balance, end of period $ 34  $ 159 
Schedule of Property and Equipment, Net
Estimated useful lives of fixed assets are as follows:
Computer hardware
3-4 years
Furniture, fixtures and equipment
5-7 years
Leasehold improvements
5-10 years
Property and equipment consisted of the following (in thousands):
December 31,
2021 2020
Property and equipment
Computer equipment and software
$ 5,305  $ 4,562 
Furniture and fixtures
959  1,034 
Leasehold improvements
2,735  2,737 
Total property and equipment
8,999  8,333 
Less: accumulated depreciation and amortization
(6,536) (5,798)
Property and equipment, net
$ 2,463  $ 2,535 
Summary of Valuation Assumptions of Stock Options
The following assumptions were used to estimate the fair value of stock options granted during the years ended December 31, 2021, 2020 and 2019:
Years ended December 31,
2021 2020 2019
Common stock fair value
$4.97 to $27.49
$4.83 to $7.86
$3.72 to $4.71
Volatility
50.2% to 51.6%
41.7% to 50.4%
39.2% to 40.5%
Expected term (in years)
6.04 6.06 6.04
Risk-free interest rate
0.52% to 1.08%
0.32% to 1.49%
1.42% to 2.48%
Expected dividends
% % %
Weighted-average grant date fair value
$ 8.86  $ 2.29  $ 1.88 
Summary of Valuation Assumptions of ESPP
The following assumptions were used to estimate the fair value of ESPP purchase rights using a Black-Scholes option pricing model with the following assumptions:
Year Ended December 31
2021
Volatility
46.97% to 50.78%
Expected term (in years)
0.66 to 1.17
Risk-free interest rate
0.06% to 0.09%
Expected dividends
%