Stockholders' Equity (Tables)
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6 Months Ended |
Jun. 30, 2022 |
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| Equity [Abstract] |
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| Summary of Stock Options Activity |
The activity for stock options under the Company’s stock plans for the six months ended June 30, 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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(8,649 |
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1.17-8.37 |
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4.08 |
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Forfeited |
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(7,500 |
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38.54-44.19 |
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42.31 |
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Expired |
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(54,755 |
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38.54 |
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38.54 |
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Outstanding as of June 30, 2022 |
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388,537 |
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1.17-83.30 |
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43.54 |
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0.88 |
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2.84 |
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Vested and exercisable as of June 30, 2022 |
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388,537 |
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1.17-83.30 |
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43.54 |
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0.88 |
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2.84 |
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Vested and expected to vest as of June 30, 2022 |
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388,537 |
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$1.17-$83.30 |
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$ |
43.54 |
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0.88 |
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$ |
2.84 |
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| Summary of Restricted Stock Activity |
Stock Awards activity for the six months ended June 30, 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 |
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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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640,667 |
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164,722 |
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805,389 |
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30.18 |
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Vested |
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(96,295 |
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(37,677 |
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(133,972 |
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55.72 |
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Forfeited/canceled |
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(55,384 |
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(27,716 |
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(83,100 |
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47.66 |
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Unvested restricted stock units as of June 30, 2022 (1) |
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778,154 |
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198,441 |
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976,595 |
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$ |
34.97 |
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Unvested and expected to vest restricted stock units outstanding as of June 30, 2022 |
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816,827 |
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$ |
34.63 |
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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 |
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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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(3,327 |
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(5,629 |
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(8,956 |
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99.53 |
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Forfeited/canceled |
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(5,011 |
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— |
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(5,011 |
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73.45 |
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Unvested restricted stock awards outstanding as of June 30, 2022 (1) |
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2,078 |
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— |
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2,078 |
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$ |
84.50 |
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Unvested and expected to vest restricted stock awards outstanding as of June 30, 2022 |
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1,984 |
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$ |
85.06 |
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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
Stock-based compensation expense recognized for the three and six months ended June 30, 2022 and 2021, was as follows:
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Three months ended |
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Six months ended |
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June 30, |
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June 30, |
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2022 |
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2021 |
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2022 |
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2021 |
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Stock-based compensation expense by type of award: |
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Restricted stock units and restricted stock awards |
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2,891 |
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$ |
3,053 |
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5,359 |
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5,383 |
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Employee stock purchase plan |
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129 |
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186 |
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326 |
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372 |
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Total stock-based compensation expense |
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$ |
3,020 |
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$ |
3,239 |
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$ |
5,685 |
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$ |
5,755 |
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For the three and six months ended June 30, 2022 and 2021, 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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Three months ended |
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Six months ended |
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June 30, |
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June 30, |
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2022 |
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2021 |
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2022 |
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2021 |
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Cost of revenue |
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$ |
303 |
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$ |
319 |
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$ |
536 |
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$ |
557 |
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Research and development |
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412 |
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382 |
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796 |
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680 |
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Sales and marketing |
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766 |
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668 |
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1,357 |
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1,280 |
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General and administrative |
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1,539 |
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1,870 |
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2,996 |
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3,238 |
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Total stock-based compensation expense |
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$ |
3,020 |
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$ |
3,239 |
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$ |
5,685 |
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$ |
5,755 |
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