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Stock-based Compensation (Tables) | 12 Months Ended
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Dec. 31, 2021
Share-based Payment Arrangement [Abstract] |
Stock-based compensation expense | Total compensation expense by award type and line item in our consolidated financial statements was as follows (in thousands):
| For the Year Ended December 31,
| 2021 |  | 2020 |  | 2019
Award Type |  |  |  |  |
Stock options | $ | 1,337 |  |  | $ | 2,927 |  |  | $ | 4,237 |
Performance-based stock options | — |  |  | 75 |  |  | 448 |
RSUs | 9,606 |  |  | 7,763 |  |  | 8,877 |
Performance-based RSUs | 2,471 |  |  | — |  |  | (388) |
LSUs | 3,297 |  |  | 3,841 |  |  | 2,444 |
Total compensation expense by award type | $ | 16,711 |  |  | $ | 14,606 |  |  | $ | 15,618 |
Line Item |  |  |  |  |
Cost of revenue | $ | 2,263 |  |  | $ | 1,811 |  |  | $ | 2,673 |
Selling, general and administrative expenses | 14,448 |  |  | 12,795 |  |  | 12,945 |
Total compensation expense by financial statement line item | $ | 16,711 |  |  | $ | 14,606 |  |  | $ | 15,618 |
Schedule of unrecognized compensation expense | Total unrecognized compensation expense (in thousands) and expected weighted-average period (in years) by award type for all of our stock-based incentive plans were as follows:
| As of December 31, 2021
| Unrecognized Compensation Expense |  | Weighted Average Period (years)
Stock options | $ | 512 |  |  | 0.57
RSUs | 26,104 |  |  | 1.69
LSUs | 2,422 |  |  | 1.19
Performance-based RSUs | $ | 4,121 |  |  | 3.17
Total | $ | 33,159 |  |  |
Option price assumptions | The option price assumptions used for our stock option awards for the year ended December 31, 2019, were as follows:
Weighted-average fair value per option granted | $ | 6.52 |
Assumptions: |
Expected term (in years) | 6.25
Expected volatility | 51.6 | %
Risk-free interest rate | 1.9% - 2.7%
Dividend yield | — | %
The price assumptions used for our leveraged stock unit awards were as follows:
| For the Year Ended December 31,
| 2020 |  | 2019
Weighted-average fair value per leveraged stock unit granted | $ | 8.90 |  |  | $ | 6.52 |
Assumptions: |  |  |
Expected term | 10 years |  | 10 years
Expected volatility | 62.1 | % |  | 51.7 | %
Risk-free interest rate | 0.85% |  | 2.54%
Dividend yield | — | % |  | — | %
Stock option information | Information with respect to our stock options (in thousands), including weighted-average remaining contractual term (in years) and aggregate intrinsic value (in thousands) was as follows:
| Options |  | Weighted Average Exercise Price |  | Weighted Average Remaining Contractual Term |  | Aggregate Intrinsic Value
Outstanding as of December 31, 2020 | 4,070 |  |  | $ | 9.32 |  |  | 5.25 |  | $ | 12,578 |
Exercised | (1,490) |  |  | 8.92 |  |  |  |  |
Forfeited | (31) |  |  | 15.23 |  |  |  |  |
Outstanding as of December 31, 2021 | 2,549 |  |  | $ | 9.49 |  |  | 3.99 |  | $ | 46,342 |
Vested and expected to vest after December 31, 2021 | 2,549 |  |  | $ | 9.49 |  |  | 3.99 |  | $ | 46,342 |
Exercisable as of December 31, 2021 | 2,301 |  |  | $ | 9.11 |  |  | 3.71 |  | $ | 42,717 |
Performance-based stock option awards activity | Information with respect to our performance-based stock options (shares and aggregate intrinsic value shown in thousands, weighted-average remaining contractual term shown in years) was as follows:
| Options |  | Weighted Average Exercise Price |  | Weighted Average Remaining Contractual Term |  | Aggregate Intrinsic Value
Outstanding as of December 31, 2020 | 268 |  |  | $ | 10.27 |  |  | 6.17 |  | $ | (326) |
Outstanding as of December 31, 2021 | 268 |  |  | 10.27 |  |  | 4.16 |  | 5,620 |
Vested and expected to vest after December 31, 2021 | 268 |  |  | $ | 10.27 |  |  | 4.16 |  | $ | 5,620 |
Restricted stock units information | Information with respect to our RSUs (not including performance-based RSUs) is presented below (in thousands, except for weighted-average grant-date fair value):
| Total RSUs |  | Weighted Average Grant Date Fair Value
Outstanding as of December 31, 2020 | 1,737 |  |  | $ | 10.13 |
Granted | 1,276 |  |  | 21.10 |
Forfeited | (243) |  |  | 12.74 |
Vested | (683) |  |  | 10.68 |
Outstanding as of December 31, 2021 | 2,087 |  |  | $ | 16.35 |
Leveraged stock units activity | Information with respect to our leveraged stock unit awards (shares and aggregate intrinsic value shown in thousands, weighted-average remaining contractual term shown in years) was as follows:
| Leveraged Stock Units |  | Weighted Average Grant Date Fair Value |  | Weighted Average Remaining Contractual Term |  | Aggregate Intrinsic Value
Outstanding as of December 31, 2021 | 1,084 |  |  | $ | 11.07 |  |  | 7.68 |  | $ | 17,993 |
Vested and expected to vest after December 31, 2021 | 1,084 |  |  | $ | 11.07 |  |  | 7.68 |  | $ | 17,993 |
Schedule of price assumptions for performance based stock units | The price assumptions used for our performance based stock unit awards were as follows:
| 1st Tranche |  | 2nd Tranche
Weighted-average fair value per performance based stock unit granted | $ | 20.64 |  |  | $ | 20.69 |
Assumptions: |  |  |
Expected term | 2 years |  | 3 years
Expected volatility | 89.5 | % |  | 77.7 | %
Risk-free interest rate | 0.12 | % |  | 0.25 | %
Dividend yield | — | % |  | — | %
Schedule of information of performance based stock units | Information with respect to our performance based restricted stock unit awards (shares and aggregate intrinsic value shown in thousands, weighted-average remaining contractual term shown in years) was as follows:
| Performance Based Stock Units |  | Weighted Average Grant Date Fair Value |  | Weighted Average Remaining Contractual Term |  | Aggregate Intrinsic Value
Outstanding as of December 31, 2021 | 319 |  |  | $ | 20.67 |  |  | 9.16 |  | $ | 2,233 |
Vested and expected to vest after December 31, 2021 | 319 |  |  | $ | 20.67 |  |  | 9.16 |  | $ | 2,233 |

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- Definition Tabular disclosure of number, weighted-average exercise price or conversion ratio, aggregate intrinsic value, and weighted-average remaining contractual term for outstanding restricted stock units that are fully vested and expected to vest. Includes, but is not limited to, unvested restricted stock units for which requisite service period has not been rendered but that are expected to vest based on achievement of performance condition, if forfeitures are recognized when they occur. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e)(1) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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