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Stock-based compensation (Tables) | 12 Months Ended
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Mar. 31, 2021
Share-based Payment Arrangement [Abstract] |
Summary of Stock Option Activity and Related Information | The following table summarizes the activity for options that vest solely based upon the satisfaction of a service condition as follows:
| Options outstanding |  | Weighted-average exercise price |  | Weighted-average remaining contractual life (in years) |  | Aggregate intrinsic values (in thousands) (1)
Balance as of December 31, 2018 | 2,746,670 |  |  | $ | 12.91 |  |  |  |  |
Granted | 115,100 |  |  | 7.95 |  |  |  |  |
Canceled or forfeited | (286,191) |  |  | 16.98 |  |  |  |  |
Balance as of March 31, 2019 | 2,575,579 |  |  | 12.24 |  |  | 6.9 |  | $ | 6,958 |
Granted | 202,560 |  |  | 14.18 |  |  |  |  |
Exercised | (334,572) |  |  | 4.08 |  |  |  |  |
Canceled or forfeited | (444,014) |  |  | 15.07 |  |  |  |  |
Balance as of March 31, 2020 | 1,999,553 |  |  | 13.17 |  |  | 6.8 |  | $ | 3,773 |
Exercised | (337,376) |  |  | 4.36 |  |  |  |  |
Canceled or forfeited | (21,196) |  |  | 23.24 |  |  |  |  |
Balance as of March 31, 2021 | 1,640,981 |  |  | $ | 14.86 |  |  | 6.1 |  | $ | 19,650 |
Exercisable, March 31, 2021 | 1,312,728 |  |  | $ | 14.99 |  |  | 5.6 |  | $ | 15,549 |
(1)The aggregate intrinsic value is calculated as the difference between the exercise price of the underlying awards and the Company's closing stock price of $26.83, as reported on the New York Stock Exchange on March 31, 2021.
| Options outstanding |  | Weighted-average exercise price |  | Weighted-average remaining contractual life (in years) |  | Aggregate intrinsic values (in thousands) (1)
Balance as of December 31, 2018 | 1,482,782 |  |  | $ | 8.94 |  |  |  |  |
Exercised | (62,450) |  |  | 1.84 |  |  |  |  |
Canceled or forfeited | (96,900) |  |  | 26.84 |  |  |  |  |
Balance as of March 31, 2019 | 1,323,432 |  |  | 7.96 |  |  | 6.0 |  | $ | 8,646 |
Exercised | (53,100) |  |  | 2.40 |  |  |  |  |
Canceled or forfeited | (17,400) |  |  | 26.84 |  |  |  |  |
Balance as of March 31, 2020 | 1,252,932 |  |  | 7.97 |  |  | 5.0 |  | $ | 7,487 |
Exercised | (144,340) |  |  | 1.89 |  |  |  |  |
Balance as of March 31, 2021 | 1,108,592 |  |  | $ | 8.72 |  |  | 4.0 |  | $ | 20,077 |
Exercisable, March 31, 2021 | 808,592 |  |  | $ | 2.00 |  |  | 3.3 |  | $ | 20,077 |
(1)The aggregate intrinsic value is calculated as the difference between the exercise price of the underlying awards and the Company's closing stock price of $26.83, as reported on the New York Stock Exchange on March 31, 2021.
Summary of Additional Information Relating to Stock Options Activity | Additional information relating to service-based options is as follows (in thousands, except per share data):
| Year ended March 31, |  |  |  | Three months ended March 31, (transition period) |  | Year ended December 31,
| 2021 |  | 2020 |  |  |  | 2019 |  | 2018
Stock-based compensation expense | $ | 1,671 |  |  | $ | 2,308 |  |  |  |  | $ | 590 |  |  | $ | 3,219 |
Intrinsic value of options exercised | 5,620 |  |  | 3,580 |  |  |  |  | — |  |  | 2,890 |
Weighted-average grant date fair value of options granted (per share) | $ | — |  |  | $ | 5.55 |  |  |  |  | $ | 3.12 |  |  | $ | 6.81 |
Additional information relating to options that vest based upon the satisfaction of performance or market conditions is as follows (in thousands, except per share data):
| Year ended March 31, |  |  |  | Three months ended March 31, (transition period) |  | Year ended December 31,
| 2021 |  | 2020 |  |  |  | 2019 |  | 2018
Stock-based compensation expense | $ | — |  |  | $ | — |  |  |  |  | $ | — |  |  | $ | 1,168 |
Intrinsic value of options exercised | 3,117 |  |  | 609 |  |  |  |  | 419 |  |  | 8,669 |
Weighted-average grant date fair value of options granted (per share) | $ | — |  |  | $ | — |  |  |  |  | $ | — |  |  | $ | — |
Summary of Weighted-Average Assumptions | The fair value of service-based stock options granted were calculated using the following weighted-average assumptions:
|  |  | Year ended March 31, |  |  |  | Three months ended March 31, (transition period) |  | Year ended December 31, |  |
|  |  | 2020 |  |  |  | 2019 |  | 2018 |  |
Expected term (in years) |  |  | 6.5 |  |  |  | 6.3 |  | 6.3 |  |
Expected volatility |  |  | 35.57 | % |  |  |  | 35.13 | % |  | 32.02 | % |  |
Risk-free interest rate |  |  | 2.07 | % |  |  |  | 2.55 | % |  | 2.68 | % |  |
Expected dividend yield |  |  | — | % |  |  |  | — | % |  | — | % |  |
Summary of Restricted Stock Unit Activity and Related Information | The following table summarizes the activities for restricted stock awards (“RSAs”) and restricted stock units (“RSUs”) as follows:
| Shares of restricted stock outstanding |  | Weighted-average grant date fair value
Balance as of December 31, 2018 | 2,036,124 |  |  | $ | 20.01 |
Granted (1) | 1,464,710 |  |  | 7.64 |
Vested | (396,514) |  |  | 21.79 |
Canceled or forfeited | (317,922) |  |  | 20.06 |
Balance as of March 31, 2019 | 2,786,398 |  |  | 13.26 |
Granted | 673,461 |  |  | 14.26 |
Vested | (762,818) |  |  | 15.97 |
Canceled or forfeited | (385,273) |  |  | 12.66 |
Balance as of March 31, 2020 | 2,311,768 |  |  | 12.86 |
Granted | 1,206,870 |  |  | 17.45 |
Vested | (1,044,052) |  |  | 13.97 |
Canceled or forfeited | (184,971) |  |  | 14.19 |
Balance as of March 31, 2021 | 2,289,615 |  |  | $ | 14.67 |
(1) | Includes restricted stock awards granted in the period ending March 31, 2019 that vest based upon the achievement of a specified stock price and satisfaction of a service condition. The fair values and derived service periods were determined using a Monte Carlo simulation model.
Disclosure of Additional Information | Additional information relating to RSAs and RSUs is as follows (in thousands):
| Year ended March 31, |  |  |  | Three months ended March 31, (transition period) |  | Year ended December 31,
| 2021 |  | 2020 |  |  |  | 2019 |  | 2018
Stock-based compensation expense | $ | 18,012 |  |  | $ | 13,181 |  |  |  |  | $ | 3,093 |  |  | $ | 12,434 |
Intrinsic value of restricted stock released | $ | 24,328 |  |  | $ | 12,448 |  |  |  |  | $ | 3,387 |  |  | $ | 6,280 |

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