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STOCK-BASED COMPENSATION (Tables) | 12 Months Ended
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Dec. 31, 2022
Share-Based Payment Arrangement [Abstract] |
Schedule of stock-based compensation expense | Stock‑based compensation expense is included in the consolidated statements of income as follows:
|  | Year Ended December 31, |
(In thousands) |  | 2022 |  |  | 2021 |  |  | 2020 |
Selling, general and administrative |  | $ | 5,305 |  |  | $ | 2,017 |  |  | $ | 1,698 |
Research and development |  |  | 2,042 |  |  |  | — |  |  |  | — |
Total |  | $ | 7,347 |  |  | $ | 2,017 |  |  | $ | 1,698 |
Schedule of stock-based compensation expense included in the consolidated statements of operations by award type | Stock‑based compensation expense included in the consolidated statements of income by award type is as follows:
|  | Year Ended December 31, |
(In thousands) |  | 2022 |  |  | 2021 |  |  | 2020 |
Stock options |  | $ | 3,057 |  |  | $ | 490 |  |  | $ | 242 |
RSUs |  |  | 4,053 |  |  |  | 1,280 |  |  |  | 1,149 |
RSAs |  |  | 194 |  |  |  | 200 |  |  |  | 273 |
ESPP |  |  | 43 |  |  |  | 47 |  |  |  | 34 |
Total stock-based compensation expense |  | $ | 7,347 |  |  | $ | 2,017 |  |  | $ | 1,698 |
Schedule of unrecognized stock-based compensation cost | As of December 31, 2022, the unrecognized stock-based compensation cost and the estimated weighted-average amortization period were as follows:
(In thousands) |  | Unrecognized Compensation Cost |  |  | Weighted-Average Amortization Period (Years) |
Stock options |  | $ | 3,550 |  |  |  | 2.9 |
RSUs |  |  | 4,776 |  |  |  | 2.2 |
RSAs |  |  | 388 |  |  |  | 2.6 |
Total unrecognized compensation expense |  | $ | 8,714 |  |  |  |
Summary of equity award activity and related information | The following table summarizes equity award activity under the 2012 Plan and prior plans and related information:
(In thousands, except per share data) |  | Number of outstanding options |  |  | Weighted-Average Exercise Price of Outstanding Options |  |  | Number of outstanding RSUs |  |  | Weighted-Average Fair Value per Share at Grant |  |  | Number of outstanding RSAs |  |  | Weighted-Average Fair Value per Share at Grant |
Balance as of December 31, 2021 |  |  | 766 |  |  | $ | 20.79 |  |  |  | 116 |  |  | $ | 12.82 |  |  |  | 29 |  |  | $ | 13.35 |
Granted |  |  | 492 |  |  | $ | 14.92 |  |  |  | 676 |  |  | $ | 11.06 |  |  |  | 15 |  |  | $ | 16.67 |
Exercised |  |  | (15 | ) |  | $ | 17.11 |  |  |  | — |  |  | $ | — |  |  |  | — |  |  | $ | — |
Released RSUs and RSAs |  |  | — |  |  | $ | — |  |  |  | (233 | ) |  | $ | 9.90 |  |  |  | (14 | ) |  | $ | 13.51 |
Forfeited |  |  | (295 | ) |  | $ | 28.01 |  |  |  | (41 | ) |  | $ | 8.80 |  |  |  | — |  |  | $ | — |
Balance as of December 31, 2022 |  |  | 948 |  |  | $ | 15.56 |  |  |  | 518 |  |  | $ | 12.16 |  |  |  | 30 |  |  | $ | 14.97 |
Vested and expected to vest as of December 31, 2022 |  |  | 948 |  |  | $ | 15.56 |  |  |  | 518 |  |  | $ | 12.16 |  |  |  | — |  |  | $ | — |
Summary of weighted-average assumptions used to calculate estimated value of stock options | The weighted-average assumptions used in calculating the estimated value of our stock options on the date of grant as follows:
|  | Year Ended December 31, |
|  | 2022 |  |  | 2021 |  |  | 2020 |
Risk-free interest rate |  |  | 3.6 | % |  |  | 1.1 | % |  |  | 0.4 | %
Expected term (in years) |  |  | 6.04 |  |  |  | 6.11 |  |  |  | 6.11 |
Volatility |  |  | 38.6 | % |  |  | 44.9 | % |  |  | 46.9 | %
Dividend yield |  |  | 0.0 | % |  |  | 0.0 | % |  |  | 0.0 | %
Weighted-average estimated fair value of stock options granted |  | $ | 6.43 |  |  | $ | 5.84 |  |  | $ | 6.28 |

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