Stock Plans (Tables)
|
6 Months Ended |
Jun. 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:
|
|
|
Three Months Ended
|
|
|
Six Months Ended
|
|
|
|
|
June 30,
|
|
|
June 30,
|
|
|
|
|
2021
|
|
|
2020
|
|
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2021
|
|
|
2020
|
|
|
Stock-based compensation expense by type of award:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Restricted stock units
|
|
$
|
5,579
|
|
|
$
|
753
|
|
|
$
|
9,750
|
|
|
$
|
895
|
|
|
Stock awards
|
|
|
—
|
|
|
|
47
|
|
|
|
19
|
|
|
|
109
|
|
|
Performance-based stock options
|
|
|
—
|
|
|
|
1,953
|
|
|
|
16,314
|
|
|
|
3,921
|
|
|
Stock options
|
|
|
798
|
|
|
|
1,306
|
|
|
|
1,635
|
|
|
|
3,455
|
|
|
Employee stock purchase plan
|
|
|
101
|
|
|
|
72
|
|
|
|
251
|
|
|
|
207
|
|
|
Common stock issued for services
|
|
|
131
|
|
|
|
—
|
|
|
|
250
|
|
|
|
-
|
|
|
Total
|
|
$
|
6,609
|
|
|
$
|
4,131
|
|
|
$
|
28,219
|
|
|
$
|
8,587
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Stock-based compensation expense by operating expense grouping:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Sales and marketing
|
|
$
|
234
|
|
|
$
|
198
|
|
|
$
|
1,132
|
|
|
$
|
376
|
|
|
Research and development
|
|
|
566
|
|
|
|
184
|
|
|
|
1,585
|
|
|
|
421
|
|
|
General and administrative
|
|
|
5,809
|
|
|
|
3,749
|
|
|
|
25,502
|
|
|
|
7,790
|
|
|
|
|
$
|
6,609
|
|
|
$
|
4,131
|
|
|
$
|
28,219
|
|
|
$
|
8,587
|
|
|
| Schedule of Stock Award Activity |
The Company’s stock award activity for the six months ended June 30, 2021 was as follows:
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|
|
|
|
|
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Weighted
|
|
|
|
|
|
|
|
|
Average Grant
|
|
|
|
|
Shares
|
|
|
Date Fair Value
|
|
|
Unvested at December 31, 2020
|
|
|
-
|
|
|
$
|
-
|
|
|
Granted
|
|
|
581
|
|
|
$
|
32.33
|
|
|
Vested
|
|
|
(581
|
)
|
|
$
|
32.33
|
|
|
Unvested at June 30, 2021
|
|
|
-
|
|
|
|
|
|
|
| Schedule of Restricted Stock Unit Activity |
The Company’s restricted stock unit activity for the six months ended June 30, 2021 was as follows:
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|
|
|
|
Weighted
|
|
|
|
|
|
|
|
|
Average Grant
|
|
|
|
|
Shares
|
|
|
Date Fair Value
|
|
|
Unvested at December 31, 2020
|
|
|
829,124
|
|
|
$
|
11.53
|
|
|
Granted
|
|
|
394,020
|
|
|
$
|
44.25
|
|
|
Forfeited
|
|
|
(14,439
|
)
|
|
$
|
39.60
|
|
|
Vested
|
|
|
(749,374
|
)
|
|
$
|
10.77
|
|
|
Unvested at June 30, 2021
|
|
|
459,331
|
|
|
$
|
39.95
|
|
|
| Schedule of Stock Option Activity |
The activity during the six months ended June 30, 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
|
|
|
200,955
|
|
|
$
|
33.11
|
|
|
|
|
|
|
|
|
Exercised
|
|
|
(348,608
|
)
|
|
$
|
8.78
|
|
|
|
|
|
|
|
|
Forfeited
|
|
|
(104,774
|
)
|
|
$
|
9.79
|
|
|
|
|
|
|
|
|
Expired
|
|
|
(2,174
|
)
|
|
$
|
5.33
|
|
|
|
|
|
|
|
|
Outstanding at June 30, 2021
|
|
|
5,145,469
|
|
|
$
|
13.72
|
|
|
6.55 years
|
|
$
|
34,108
|
|
|
Exercisable at June 30, 2021
|
|
|
4,158,680
|
|
|
$
|
13.81
|
|
|
6.05 years
|
|
$
|
24,674
|
|
|
| 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 six months ended June 30, 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 six months ended June 30, 2021:
|
Expected term (in years)
|
|
5.5 - 6.1
|
|
|
Expected volatility
|
|
82% - 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 six months ended June 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
|
|
|
(273,159
|
)
|
|
$
|
5.79
|
|
|
|
|
|
|
|
|
Forfeited
|
|
|
(12,552
|
)
|
|
$
|
5.92
|
|
|
|
|
|
|
|
|
Expired
|
|
|
(3,588
|
)
|
|
$
|
5.00
|
|
|
|
|
|
|
|
|
Outstanding at June 30, 2021
|
|
|
3,944,721
|
|
|
$
|
10.90
|
|
|
7.02 years
|
|
$
|
34,750
|
|
|
Exercisable at June 30, 2021
|
|
|
3,944,721
|
|
|
$
|
10.90
|
|
|
7.02 years
|
|
$
|
34,750
|
|
|