| Summary of Stock Options Activity |
The activity for stock options under the Company’s stock plans for the six months ended June 30, 2023 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, 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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(4,125 |
) |
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44.19 |
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44.19 |
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Expired |
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(232,363 |
) |
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44.19 |
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44.19 |
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Outstanding as of June 30, 2023 |
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57,364 |
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8.37-83.30 |
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79.56 |
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0.57 |
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0.16 |
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Vested and exercisable as of June 30, 2023 |
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57,364 |
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8.37-83.30 |
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79.56 |
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0.57 |
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0.16 |
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Vested and expected to vest as of June 30, 2023 |
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57,364 |
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$8.37-$83.30 |
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$ |
79.56 |
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0.57 |
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$ |
0.16 |
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| Summary of Restricted Stock Activity |
Stock Awards activity for the six months ended June 30, 2023 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, 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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855,708 |
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536,990 |
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1,392,698 |
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15.11 |
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Vested |
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(167,044 |
) |
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(15,618 |
) |
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(182,662 |
) |
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35.32 |
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Forfeited/canceled |
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(214,852 |
) |
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(73,185 |
) |
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(288,037 |
) |
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25.97 |
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Unvested restricted stock units as of June 30, 2023 (1) |
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1,294,753 |
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631,384 |
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1,926,137 |
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$ |
21.20 |
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Unvested and expected to vest restricted stock units outstanding as of June 30, 2023 |
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1,369,435 |
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$ |
21.64 |
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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, 2022 |
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786 |
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— |
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|
786 |
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$ |
59.55 |
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Vested |
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(786 |
) |
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— |
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(786 |
) |
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59.55 |
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Unvested restricted stock awards outstanding as of June 30, 2023 (1) |
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— |
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— |
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— |
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$ |
— |
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Unvested and expected to vest restricted stock awards outstanding as of June 30, 2023 |
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— |
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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 three and six months ended June 30, 2023 and 2022, 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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2023 |
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2022 |
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2023 |
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2022 |
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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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$ |
3,177 |
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$ |
2,891 |
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$ |
6,482 |
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$ |
5,359 |
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Employee stock purchase plan |
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86 |
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129 |
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|
223 |
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|
326 |
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Total stock-based compensation expense |
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$ |
3,263 |
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$ |
3,020 |
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$ |
6,705 |
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$ |
5,685 |
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For the three and six months ended June 30, 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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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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2023 |
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2022 |
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2023 |
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2022 |
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Cost of revenue |
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$ |
153 |
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$ |
303 |
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$ |
237 |
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$ |
536 |
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Research and development |
|
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376 |
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|
412 |
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|
834 |
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|
796 |
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Sales and marketing |
|
|
658 |
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|
766 |
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1,432 |
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|
1,357 |
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General and administrative |
|
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2,076 |
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|
1,539 |
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4,202 |
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|
2,996 |
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Total stock-based compensation expense |
|
$ |
3,263 |
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$ |
3,020 |
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|
$ |
6,705 |
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$ |
5,685 |
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