| Summary of Stock Options Activity |
The activity for stock options under the Company’s stock plans for the years ended December 31, 2024, 2023 and 2022 is as follows:
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Remaining |
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weighted- |
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Weighted- |
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average |
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Per share |
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average |
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contractual |
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average |
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Price per |
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exercise |
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terms |
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intrinsic |
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Options |
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share |
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price |
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(in years) |
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value |
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Outstanding as of December 31, 2021 |
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459,441 |
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$1.17-$83.30 |
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$ |
42.18 |
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1.36 |
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$ |
4.31 |
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Exercised |
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(14,154 |
) |
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1.17-8.37 |
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3.14 |
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Forfeited |
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(15,417 |
) |
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38.54-44.19 |
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43.27 |
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Expired |
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(81,586 |
) |
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38.54-43.21 |
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40.08 |
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Outstanding as of December 31, 2022 |
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348,284 |
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1.17-83.30 |
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44.21 |
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0.43 |
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2.07 |
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Vested and exercisable as of December 31, 2022 |
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348,284 |
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1.17-83.30 |
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44.21 |
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0.43 |
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2.07 |
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Vested and expected to vest as of December 31, 2022 |
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348,284 |
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1.17-83.30 |
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44.21 |
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0.43 |
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2.07 |
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Outstanding as of December 31, 2022 |
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348,284 |
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1.17-83.30 |
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44.21 |
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0.43 |
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2.07 |
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Exercised |
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(54,432 |
) |
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1.17-8.37 |
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7.03 |
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Forfeited |
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(6,019 |
) |
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8.37-44.19 |
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32.92 |
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Expired |
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(267,833 |
) |
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8.37-83.30 |
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49.10 |
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Outstanding as of December 31, 2023 |
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20,000 |
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83.30 |
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83.30 |
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0.36 |
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— |
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Vested and exercisable as of December 31, 2023 |
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20,000 |
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83.30 |
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83.30 |
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0.36 |
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— |
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Vested and expected to vest as of December 31, 2023 |
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20,000 |
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83.30 |
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83.30 |
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0.36 |
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— |
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Outstanding as of December 31, 2023 |
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20,000 |
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83.30 |
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83.30 |
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0.36 |
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— |
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Forfeited |
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(10,000 |
) |
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83.30 |
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83.30 |
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Expired |
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(10,000 |
) |
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83.30 |
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83.30 |
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Outstanding as of December 31, 2024 |
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— |
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— |
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— |
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— |
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— |
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Vested and exercisable as of December 31, 2024 |
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— |
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— |
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— |
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— |
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— |
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Vested and expected to vest as of December 31, 2024 |
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— |
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$ |
— |
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$ |
— |
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— |
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$ |
— |
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| Summary of Restricted Stock Activity |
Stock Awards activity for the years ended December 31, 2024, 2023 and 2022 is summarized below:
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Weighted- |
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average |
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grant |
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Performance |
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date fair |
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and |
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value |
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Restricted stock units |
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Time-based |
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time-based |
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Total |
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per share |
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Unvested restricted stock units as of December 31, 2021 (1) |
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289,166 |
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|
99,112 |
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388,278 |
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$ |
54.81 |
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Granted |
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769,976 |
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164,722 |
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934,698 |
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|
29.76 |
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Vested |
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(142,942 |
) |
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(37,678 |
) |
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(180,620 |
) |
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55.04 |
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Forfeited/canceled |
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(95,259 |
) |
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(42,959 |
) |
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(138,218 |
) |
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45.10 |
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Unvested restricted stock units as of December 31, 2022 (1) |
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820,941 |
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183,197 |
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1,004,138 |
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$ |
32.72 |
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Unvested and expected to vest restricted stock units outstanding as of
December 31, 2022 |
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840,413 |
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$ |
32.37 |
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Unvested restricted stock units as of December 31, 2022 |
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820,941 |
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183,197 |
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1,004,138 |
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$ |
32.72 |
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Granted |
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1,214,144 |
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621,990 |
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1,836,134 |
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12.29 |
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Vested |
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(214,644 |
) |
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(15,618 |
) |
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(230,262 |
) |
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35.68 |
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Forfeited/canceled |
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(674,037 |
) |
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(442,881 |
) |
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(1,116,918 |
) |
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23.62 |
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Unvested restricted stock units as of December 31, 2023 (1) |
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1,146,404 |
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346,688 |
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1,493,092 |
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$ |
14.67 |
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Unvested and expected to vest restricted stock units outstanding as of
December 31, 2023 |
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1,159,877 |
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$ |
14.79 |
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Unvested restricted stock units as of December 31, 2023 |
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1,146,404 |
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|
346,688 |
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1,493,092 |
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$ |
14.67 |
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Granted |
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890,300 |
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|
587,768 |
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1,478,068 |
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|
7.28 |
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Vested |
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(500,599 |
) |
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— |
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(500,599 |
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15.70 |
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Forfeited/canceled |
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(332,722 |
) |
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(333,262 |
) |
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(665,984 |
) |
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14.09 |
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Unvested restricted stock units as of December 31, 2024 (1) |
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1,203,383 |
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601,194 |
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1,804,577 |
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$ |
8.61 |
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Unvested and expected to vest restricted stock units outstanding as of
December 31, 2024 |
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1,381,787 |
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$ |
8.65 |
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Weighted- |
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average |
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|
grant |
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Performance |
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date fair |
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and |
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value |
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Restricted stock awards |
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Time-based |
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time-based |
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Total |
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per share |
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Unvested restricted stock awards outstanding as of December 31, 2021 (1) |
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10,416 |
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|
5,629 |
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|
16,045 |
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$ |
87.12 |
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Vested |
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(4,496 |
) |
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(5,629 |
) |
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(10,125 |
) |
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|
99.46 |
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Forfeited/canceled |
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(5,134 |
) |
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— |
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(5,134 |
) |
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|
74.25 |
|
Unvested restricted stock awards outstanding as of December 31, 2022 (1) |
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|
786 |
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|
— |
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|
786 |
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$ |
59.55 |
|
Unvested and expected to vest restricted stock awards outstanding as of
December 31, 2022 |
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|
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|
|
748 |
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$ |
60.39 |
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|
Unvested restricted stock awards outstanding as of December 31, 2022 |
|
|
786 |
|
|
|
— |
|
|
|
786 |
|
|
$ |
59.55 |
|
Vested |
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(786 |
) |
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|
— |
|
|
|
(786 |
) |
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|
59.55 |
|
Unvested restricted stock awards outstanding as of December 31, 2023 (1) |
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— |
|
|
|
— |
|
|
|
— |
|
|
$ |
— |
|
Unvested and expected to vest restricted stock awards outstanding as of
December 31, 2023 |
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|
|
|
|
|
|
— |
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|
$ |
— |
|
(1)Outstanding restricted stock units and restricted stock awards are based on the maximum payout of the targeted number of shares.
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| Summary of Stock-based Compensation Expense |
Stock-based compensation expense recognized for the years ended December 31, 2024, 2023 and 2022, was as follows:
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Years ended December 31, |
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Stock-based compensation expense by type of award: |
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2024 |
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2023 |
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2022 |
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Restricted stock units and restricted stock awards |
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$ |
6,941 |
|
|
$ |
7,037 |
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|
$ |
11,748 |
|
Employee stock purchase plan |
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|
456 |
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|
|
390 |
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|
|
535 |
|
Total stock-based compensation expense |
|
$ |
7,397 |
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|
$ |
7,427 |
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$ |
12,283 |
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For the years ended December 31, 2024, 2023 and 2022, respectively, stock-based compensation expense recognized under ASC 718, included in cost of revenue, research and development expense, sales and marketing expense, and general and administrative expense was as follows:
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Years ended December 31, |
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2024 |
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2023 |
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2022 |
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Cost of revenue |
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$ |
579 |
|
|
$ |
540 |
|
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$ |
1,127 |
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Research and development |
|
|
474 |
|
|
|
1,592 |
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|
1,591 |
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Sales and marketing |
|
|
1,558 |
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|
1,598 |
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|
|
2,785 |
|
General and administrative |
|
|
4,786 |
|
|
|
3,697 |
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|
|
6,780 |
|
Total stock-based compensation expense |
|
$ |
7,397 |
|
|
$ |
7,427 |
|
|
$ |
12,283 |
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|