Stock Plans (Tables)
|
9 Months Ended |
Sep. 30, 2021 |
|---|
| Schedule of Stock-based Compensation Expense |
The Company’s stock-based compensation expense by type of award and by operating expense grouping are presented below:
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|
|
Three Months Ended
|
|
|
Nine Months Ended
|
|
|
|
|
September 30,
|
|
|
September 30,
|
|
|
|
|
2021
|
|
|
2020
|
|
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2021
|
|
|
2020
|
|
|
Stock-based compensation expense by type of award:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Restricted stock units
|
|
$
|
4,264
|
|
|
$
|
2,308
|
|
|
$
|
14,014
|
|
|
$
|
3,203
|
|
|
Stock awards
|
|
|
—
|
|
|
|
43
|
|
|
|
19
|
|
|
|
152
|
|
|
Machine Box contingent common stock issuances
|
|
|
—
|
|
|
|
(37
|
)
|
|
|
—
|
|
|
|
(37
|
)
|
|
Performance-based stock options
|
|
|
—
|
|
|
|
1,996
|
|
|
|
16,314
|
|
|
|
5,917
|
|
|
Stock options
|
|
|
791
|
|
|
|
644
|
|
|
|
2,426
|
|
|
|
4,099
|
|
|
Employee stock purchase plan
|
|
|
86
|
|
|
|
157
|
|
|
|
337
|
|
|
|
364
|
|
|
Common stock issued for services
|
|
|
131
|
|
|
|
—
|
|
|
|
381
|
|
|
|
-
|
|
|
Total
|
|
$
|
5,272
|
|
|
$
|
5,111
|
|
|
$
|
33,491
|
|
|
$
|
13,698
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Stock-based compensation expense by operating expense grouping:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
Sales and marketing
|
|
$
|
226
|
|
|
$
|
278
|
|
|
$
|
1,358
|
|
|
$
|
654
|
|
|
Research and development
|
|
|
431
|
|
|
|
172
|
|
|
|
2,016
|
|
|
|
593
|
|
|
General and administrative
|
|
|
4,615
|
|
|
|
4,661
|
|
|
|
30,117
|
|
|
|
12,451
|
|
|
|
|
$
|
5,272
|
|
|
$
|
5,111
|
|
|
$
|
33,491
|
|
|
$
|
13,698
|
|
|
| Schedule of Stock Award Activity |
The Company’s stock award activity for the nine months ended September 30, 2021 was as follows:
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|
|
|
|
|
|
Weighted
|
|
|
|
|
|
|
|
|
Average Grant
|
|
|
|
|
Shares
|
|
|
Date Fair Value
|
|
|
Unvested at December 31, 2020
|
|
|
-
|
|
|
$
|
-
|
|
|
Granted
|
|
|
581
|
|
|
$
|
32.33
|
|
|
Forfeited
|
|
|
-
|
|
|
|
-
|
|
|
Vested
|
|
|
(581
|
)
|
|
$
|
32.33
|
|
|
Unvested at September 30, 2021
|
|
|
-
|
|
|
|
-
|
|
|
| Schedule of Restricted Stock Unit Activity |
The Company’s restricted stock unit activity for the nine months ended September 30, 2021 was as follows:
|
|
|
|
|
|
|
Weighted
|
|
|
|
|
|
|
|
|
Average Grant
|
|
|
|
|
Shares
|
|
|
Date Fair Value
|
|
|
Unvested at December 31, 2020
|
|
|
829,124
|
|
|
$
|
11.53
|
|
|
Granted
|
|
|
448,020
|
|
|
$
|
41.31
|
|
|
Forfeited
|
|
|
(24,439
|
)
|
|
$
|
42.92
|
|
|
Vested
|
|
|
(749,374
|
)
|
|
$
|
10.77
|
|
|
Unvested at September 30, 2021
|
|
|
503,331
|
|
|
$
|
37.64
|
|
|
| Schedule of Stock Option Activity |
The activity during the nine months ended September 30, 2021 related to all other stock options was as follows:
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|
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|
|
|
|
Weighted-Average
|
|
|
|
|
|
|
|
|
|
|
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Remaining
|
|
Aggregate
|
|
|
|
|
|
|
|
|
Exercise
|
|
|
Contractual
|
|
Intrinsic
|
|
|
|
|
Options
|
|
|
Price
|
|
|
Term
|
|
Value
|
|
|
Outstanding at December 31, 2020
|
|
|
5,400,070
|
|
|
$
|
12.60
|
|
|
—
|
|
|
—
|
|
|
Granted
|
|
|
298,455
|
|
|
$
|
28.69
|
|
|
—
|
|
|
—
|
|
|
Exercised
|
|
|
(488,636
|
)
|
|
$
|
9.69
|
|
|
—
|
|
|
—
|
|
|
Forfeited
|
|
|
(169,965
|
)
|
|
$
|
15.86
|
|
|
—
|
|
|
—
|
|
|
Expired
|
|
|
(3,579
|
)
|
|
$
|
6.45
|
|
|
—
|
|
|
—
|
|
|
Outstanding at September 30, 2021
|
|
|
5,036,345
|
|
|
$
|
13.73
|
|
|
6.33 years
|
|
$
|
52,783
|
|
|
Exercisable at September 30, 2021
|
|
|
4,114,851
|
|
|
$
|
13.74
|
|
|
5.82 years
|
|
$
|
41,747
|
|
|
| Employee Stock Purchase Plan [Member] |
|
| Summary of Fair Value Assumptions of Stock Purchase Plan |
The assumptions used in calculating the fair values of purchase rights granted under the ESPP during the nine months ended September 30, 2021 are set forth in the table below:
|
Expected term (in years)
|
|
0.5 - 2.0
|
|
|
Expected volatility
|
|
67% - 119%
|
|
|
Risk-free interest rate
|
|
|
0.1
|
%
|
|
Expected dividend yield
|
|
|
—
|
|
|
| Stock Options [Member] |
|
| Schedule of Fair Value Assumptions |
The following assumptions were used to compute the grant date fair values of the stock options granted during the nine months ended September 30, 2021:
|
Expected term (in years)
|
|
5.5 - 6.1
|
|
|
Expected volatility
|
|
80% - 83%
|
|
|
Risk-free interest rate
|
|
0.6% - 1.0%
|
|
|
Expected dividend yield
|
|
|
—
|
|
|
| Performance-based Stock Options [Member] |
|
| Schedule of Stock Option Activity |
The activity during the nine months ended September 30, 2021 related to stock options that are subject to performance-based vesting conditions tied to the achievement of stock price goals by the Company was as follows:
|
|
|
|
|
|
|
Weighted-Average
|
|
|
|
|
|
|
|
|
|
|
|
|
Remaining
|
|
Aggregate
|
|
|
|
|
|
|
|
|
Exercise
|
|
|
Contractual
|
|
Intrinsic
|
|
|
|
|
Options
|
|
|
Price
|
|
|
Term
|
|
Value
|
|
|
Outstanding at December 31, 2020
|
|
|
4,234,020
|
|
|
$
|
10.55
|
|
|
—
|
|
|
—
|
|
|
Exercised
|
|
|
(346,137
|
)
|
|
$
|
5.78
|
|
|
—
|
|
|
—
|
|
|
Forfeited
|
|
|
(12,552
|
)
|
|
$
|
5.92
|
|
|
—
|
|
|
—
|
|
|
Expired
|
|
|
(8,787
|
)
|
|
$
|
5.28
|
|
|
—
|
|
|
—
|
|
|
Outstanding at September 30, 2021
|
|
|
3,866,544
|
|
|
$
|
11.01
|
|
|
6.76 years
|
|
$
|
49,819
|
|
|
Exercisable at September 30, 2021
|
|
|
3,886,544
|
|
|
$
|
11.01
|
|
|
6.76 years
|
|
$
|
49,819
|
|
|