Stockholders' Equity (Tables)
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9 Months Ended |
Sep. 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 nine months ended September 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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(12,500 |
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38.54-44.19 |
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43.06 |
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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 September 30, 2022 |
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383,537 |
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1.17-83.30 |
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43.53 |
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0.63 |
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2.89 |
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Vested and exercisable as of September 30, 2022 |
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383,537 |
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1.17-83.30 |
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43.53 |
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0.63 |
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2.89 |
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Vested and expected to vest as of September 30, 2022 |
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383,537 |
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$1.17-$83.30 |
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$ |
43.53 |
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0.63 |
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$ |
2.89 |
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| Summary of Restricted Stock Activity |
Stock Awards activity for the nine months ended September 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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730,575 |
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164,722 |
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895,297 |
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30.08 |
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Vested |
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(121,321 |
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(37,678 |
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(158,999 |
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55.57 |
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Forfeited/canceled |
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(73,842 |
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(42,959 |
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(116,801 |
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45.92 |
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Unvested restricted stock units as of September 30, 2022 (1) |
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824,578 |
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183,197 |
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1,007,775 |
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$ |
33.76 |
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Unvested and expected to vest restricted stock units outstanding as of September 30, 2022 |
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855,617 |
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$ |
33.44 |
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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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(3,911 |
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(5,629 |
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(9,540 |
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99.49 |
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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 |
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Unvested restricted stock awards outstanding as of September 30, 2022 (1) |
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1,371 |
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— |
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1,371 |
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$ |
76.35 |
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Unvested and expected to vest restricted stock awards outstanding as of September 30, 2022 |
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1,309 |
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$ |
77.05 |
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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 three and nine months ended September 30, 2022 and 2021, was as follows:
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Three months ended |
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Nine months ended |
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September 30, |
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September 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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$ |
3,389 |
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$ |
2,631 |
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$ |
8,748 |
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$ |
8,014 |
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Employee stock purchase plan |
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111 |
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161 |
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437 |
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533 |
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Total stock-based compensation expense |
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$ |
3,500 |
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$ |
2,792 |
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$ |
9,185 |
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$ |
8,547 |
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For the three and nine months ended September 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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Nine months ended |
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September 30, |
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September 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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$ |
327 |
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$ |
269 |
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$ |
863 |
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$ |
826 |
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Research and development |
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409 |
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264 |
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1,205 |
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944 |
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Sales and marketing |
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754 |
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695 |
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2,111 |
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1,975 |
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General and administrative |
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2,010 |
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1,564 |
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5,006 |
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4,802 |
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Total stock-based compensation expense |
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$ |
3,500 |
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$ |
2,792 |
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$ |
9,185 |
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$ |
8,547 |
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