Stock Plans (Tables)
|
3 Months Ended |
Mar. 31, 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:
|
|
|
Three months ended
|
|
|
|
|
March 31,
|
|
|
|
|
2021
|
|
|
2020
|
|
|
Stock-based compensation expense by type of award:
|
|
|
|
|
|
|
|
|
|
Restricted stock units
|
|
$
|
4,171
|
|
|
$
|
142
|
|
|
Stock awards
|
|
|
19
|
|
|
|
62
|
|
|
Performance-based stock options
|
|
|
16,314
|
|
|
|
1,968
|
|
|
Stock options
|
|
|
837
|
|
|
|
2,149
|
|
|
Employee stock purchase plan
|
|
|
150
|
|
|
|
135
|
|
|
Common stock issued for services
|
|
|
119
|
|
|
|
-
|
|
|
Total
|
|
$
|
21,610
|
|
|
$
|
4,456
|
|
|
|
|
|
|
|
|
|
|
|
|
Stock-based compensation expense by operating expense grouping:
|
|
|
|
|
|
|
|
|
|
Sales and marketing
|
|
$
|
898
|
|
|
$
|
178
|
|
|
Research and development
|
|
|
1,019
|
|
|
|
237
|
|
|
General and administrative
|
|
|
19,693
|
|
|
|
4,041
|
|
|
|
|
$
|
21,610
|
|
|
$
|
4,456
|
|
|
| Schedule of Stock Award Activity |
The Company’s stock award activity for the three months ended March 31, 2021 was as follows:
|
|
|
|
|
|
|
Weighted
|
|
|
|
|
|
|
|
|
Average Grant
|
|
|
|
|
Shares
|
|
|
Date Fair Value
|
|
|
Unvested at December 31, 2020
|
|
|
-
|
|
|
$
|
-
|
|
|
Granted
|
|
|
581
|
|
|
$
|
32.33
|
|
|
Vested
|
|
|
(581
|
)
|
|
$
|
32.33
|
|
|
Unvested at March 31, 2021
|
|
|
-
|
|
|
|
|
|
|
| Schedule of Restricted Stock Unit Activity |
The Company’s restricted stock unit activity for the three months ended March 31, 2021 was as follows:
|
|
|
|
|
|
|
Weighted
|
|
|
|
|
|
|
|
|
Average Grant
|
|
|
|
|
Shares
|
|
|
Date Fair Value
|
|
|
Unvested at December 31, 2020
|
|
|
829,124
|
|
|
$
|
11.53
|
|
|
Granted
|
|
|
346,645
|
|
|
$
|
47.37
|
|
|
Forfeited
|
|
|
(250
|
)
|
|
$
|
8.81
|
|
|
Vested
|
|
|
(217,899
|
)
|
|
$
|
4.73
|
|
|
Unvested at March 31, 2021
|
|
|
957,620
|
|
|
$
|
26.05
|
|
|
| Schedule of Stock Option Activity |
The activity during the three months ended March 31, 2021 related to all other stock options was as follows:
|
|
|
|
|
|
|
Weighted-Average
|
|
|
|
|
|
|
|
|
|
|
|
|
Remaining
|
|
Aggregate
|
|
|
|
|
|
|
|
|
Exercise
|
|
|
Contractual
|
|
Intrinsic
|
|
|
|
|
Options
|
|
|
Price
|
|
|
Term
|
|
Value
|
|
|
Outstanding at December 31, 2020
|
|
|
5,400,070
|
|
|
$
|
12.60
|
|
|
|
|
|
|
|
|
Granted
|
|
|
92,000
|
|
|
$
|
46.74
|
|
|
|
|
|
|
|
|
Exercised
|
|
|
(319,458
|
)
|
|
$
|
8.82
|
|
|
|
|
|
|
|
|
Forfeited
|
|
|
(33,397
|
)
|
|
$
|
9.05
|
|
|
|
|
|
|
|
|
Expired
|
|
|
(1,810
|
)
|
|
$
|
5.46
|
|
|
|
|
|
|
|
|
Outstanding at March 31, 2021
|
|
|
5,137,405
|
|
|
$
|
13.47
|
|
|
6.77 years
|
|
$
|
56,355
|
|
|
Exercisable at March 31, 2021
|
|
|
4,074,911
|
|
|
$
|
13.91
|
|
|
6.28 years
|
|
$
|
41,038
|
|
|
| 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, 2021 are set forth in the table below:
|
Expected term (in years)
|
|
0.5 - 2.0
|
|
|
Expected volatility
|
|
101% - 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 three months ended March 31, 2021:
|
Expected term (in years)
|
|
|
6.1
|
|
|
Expected volatility
|
|
|
83
|
%
|
|
Risk-free interest rate
|
|
|
0.6
|
%
|
|
Expected dividend yield
|
|
|
—
|
|
|
| Performance-based Stock Options [Member] |
|
| Schedule of Stock Option Activity |
The activity during the three months ended March 31, 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
|
|
|
(221,936
|
)
|
|
$
|
5.80
|
|
|
|
|
|
|
|
|
Forfeited
|
|
|
(5,895
|
)
|
|
$
|
6.02
|
|
|
|
|
|
|
|
|
Outstanding at March 31, 2021
|
|
|
4,006,189
|
|
|
$
|
10.82
|
|
|
7.27 years
|
|
$
|
52,715
|
|
|
Exercisable at March 31, 2021
|
|
|
3,999,532
|
|
|
$
|
10.83
|
|
|
7.27 years
|
|
$
|
52,594
|
|
|