Stock Plans (Tables)
|
3 Months Ended |
Mar. 31, 2022 |
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
|
|
|
|
March 31,
|
|
|
|
2022
|
|
|
2021
|
|
Stock-based compensation expense by type of award:
|
|
|
|
|
|
|
|
|
Restricted stock units
|
|
$
|
3,432
|
|
|
$
|
4,171
|
|
Stock awards
|
|
|
—
|
|
|
|
19
|
|
Performance-based stock options
|
|
|
—
|
|
|
|
16,314
|
|
Stock options
|
|
|
1,273
|
|
|
|
837
|
|
Employee stock purchase plan
|
|
|
92
|
|
|
|
150
|
|
Common stock issued for services
|
|
|
19
|
|
|
|
119
|
|
Total
|
|
$
|
4,816
|
|
|
$
|
21,610
|
|
|
|
|
|
|
|
|
|
|
Stock-based compensation expense by operating expense grouping:
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|
|
|
|
|
|
|
Cost of revenue
|
|
$
|
20
|
|
|
$
|
-
|
|
Sales and marketing
|
|
|
463
|
|
|
|
898
|
|
Research and development
|
|
|
1,004
|
|
|
|
1,019
|
|
General and administrative
|
|
|
3,329
|
|
|
|
19,693
|
|
|
|
$
|
4,816
|
|
|
$
|
21,610
|
|
|
Schedule of Restricted Stock Unit Activity |
The Company’s restricted stock unit activity for the three months ended March 31, 2022 was as follows:
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Weighted
|
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Average Grant
|
|
|
|
Shares
|
|
|
Date Fair Value
|
|
Unvested at December 31, 2021
|
|
|
886,461
|
|
|
$
|
32.56
|
|
Granted
|
|
|
402,811
|
|
|
$
|
16.47
|
|
Forfeited
|
|
|
(28,824
|
)
|
|
$
|
23.20
|
|
Vested
|
|
|
(328,956
|
)
|
|
$
|
46.65
|
|
Unvested at March 31, 2022
|
|
|
931,492
|
|
|
$
|
21.01
|
|
|
Schedule of Stock Option Activity |
The activity during the three months ended March 31, 2022 related to all other stock options was as follows:
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Weighted-Average
|
|
|
|
|
|
|
|
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|
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Remaining
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|
Aggregate
|
|
|
|
|
|
|
|
Exercise
|
|
|
Contractual
|
|
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Intrinsic
|
|
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Options
|
|
|
Price
|
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|
Term
|
|
|
Value
|
|
Outstanding at December 31, 2021
|
|
|
5,508,608
|
|
|
$
|
15.10
|
|
|
|
|
|
|
|
|
|
Granted
|
|
|
291,850
|
|
|
$
|
16.13
|
|
|
|
|
|
|
|
|
|
Exercised
|
|
|
(20,222
|
)
|
|
$
|
7.33
|
|
|
|
|
|
|
|
|
|
Forfeited
|
|
|
(57,134
|
)
|
|
$
|
13.07
|
|
|
|
|
|
|
|
|
|
Expired
|
|
|
(8,425
|
)
|
|
$
|
21.61
|
|
|
|
|
|
|
|
|
|
Outstanding at March 31, 2022
|
|
|
5,714,677
|
|
|
$
|
15.23
|
|
|
|
6.2
|
|
|
$
|
25,419
|
|
Exercisable at March 31, 2022
|
|
|
4,289,264
|
|
|
$
|
13.76
|
|
|
|
5.4
|
|
|
$
|
20,201
|
|
|
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 three months ended March 31, 2022 are set forth in the table below:
Expected term (in years)
|
|
0.5 - 2.0
|
|
Expected volatility
|
|
71% - 88%
|
|
Risk-free interest rate
|
|
0.2% - 2.4%
|
|
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 three months ended March 31, 2022:
Expected term (in years)
|
|
|
6.1
|
|
Expected volatility
|
|
|
82
|
%
|
Risk-free interest rate
|
|
|
1.8
|
%
|
Expected dividend yield
|
|
|
—
|
|
|
Performance-based Stock Options [Member] |
|
Schedule of Stock Option Activity |
The activity during the three months ended March 31, 2022 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, 2021
|
|
|
3,834,441
|
|
|
$
|
11.05
|
|
|
|
|
|
|
|
|
|
Exercised
|
|
|
(21,713
|
)
|
|
$
|
5.55
|
|
|
|
|
|
|
|
|
|
Expired
|
|
|
(7,277
|
)
|
|
$
|
4.94
|
|
|
|
|
|
|
|
|
|
Outstanding at March 31, 2022
|
|
|
3,805,451
|
|
|
$
|
11.09
|
|
|
|
6.3
|
|
|
$
|
27,350
|
|
Exercisable at March 31, 2022
|
|
|
3,805,451
|
|
|
$
|
11.09
|
|
|
|
6.3
|
|
|
$
|
27,350
|
|
|