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Stockholder's Equity (Deficit) (Tables) | 3 Months Ended
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Mar. 31, 2021
Summary of Issued Shares of Common Stock | The Company issued the following shares of common stock:
| Three Months Ended March, |
| 2021 |  |  | 2020 |
| Shares |  |  | Average Price per Share |  |  | Shares |  |  | Average Price per Share |
Acquisitions |  | 71,740 |  |  | $ | 31.65 |  |  |  | — |  |  | $ | — |
Exercise of warrants |  | 67,713 |  |  |  | 17.19 |  |  |  | — |  |  |  | — |
Exercise of options |  | 330,060 |  |  |  | 6.62 |  |  |  | — |  |  |  | — |
Restricted shares, net |  | 36,817 |  |  |  | 29.88 |  |  |  | — |  |  |  | — |
Total |  | 506,330 |  |  | $ | 13.27 |  |  |  | — |  |  | $ | — |
Schedule of Share Authorized to be Issue and Available for Grant | The following number of shares were authorized to be issued and available for grant:
|  | March 31, 2021 |
|  | 2017 Plan |  |  | 2013 Plan |  |  | Total |
Shares authorized to be issued |  |  | 3,944,750 |  |  |  | 2,047,269 |  |  |  | 5,992,019 |
Shares available for grant |  |  | 1,618,996 |  |  |  | — |  |  |  | 1,618,996 |
|  | March 31, 2020 |
|  | 2017 Plan |  |  | 2013 Plan |  |  | Total |
Shares authorized to be issued |  |  | 1,057,785 |  |  |  | 2,058,619 |  |  |  | 3,116,404 |
Shares available for grant |  |  | 8,217 |  |  |  | 4,775 |  |  |  | 12,992 |
Schedule of Stock Compensation Expense | Total stock compensation expense for the Plans was as follows:
|  | Three Months Ended March 31, |
|  | 2021 |  |  | 2020 |
|  | 2017 plan |  |  | 2013 plan |  |  |  |  |  |  | 2017 plan |  |  | 2013 plan |  |  |  |  |
|  | Options |  |  | Restricted Stock |  |  | Options |  |  | Total |  |  | Options |  |  | Restricted Stock |  |  | Options |  |  | Total |
Cost of revenue |  | $ | 606 |  |  | $ | — |  |  | $ | 10 |  |  | $ | 616 |  |  | $ | 355 |  |  | $ | — |  |  | $ | 70 |  |  | $ | 425 |
Selling, general and administrative expense |  |  | 1,004 |  |  |  | 182 |  |  |  | 3 |  |  |  | 1,189 |  |  |  | 287 |  |  |  | 370 |  |  |  | 68 |  |  |  | 725 |
Total |  | $ | 1,610 |  |  | $ | 182 |  |  | $ | 13 |  |  | $ | 1,805 |  |  | $ | 642 |  |  | $ | 370 |  |  | $ | 138 |  |  | $ | 1,150 |
Summary of Weighted Average Assumptions Used in Black-Sholes Option-pricing Model | The following weighted-average assumptions were used in the Black-Sholes option-pricing model calculation:
|  | March 31, |  | March 31, |
|  | 2021 |  | 2020 |
Common stock value (per share) |  | $ 37.61 |  | $ 31.60 |
Expected volatility |  |  | 58.01 | % |  | 31.87 | %
Risk-free interest rate |  |  | 0.71 | % |  | 1.78 | %
Expected life (years) |  | 5.5-7.0 |  | 7.0 |
Forfeiture rate |  | None |  | None |
Dividend rate |  | None |  | None |
Schedule of Common Stock Reserved for Future Issuance | Common Stock Reserved for Future Issuances—The Company has reserved certain stock of its authorized but unissued common stock for possible future issuance in connection with the following:
|  | March 31, |
|  | 2021 |  |  | 2020 |
Warrants |  |  | — |  |  |  | 650,590 |
Montrose 2013 Stock Incentive Plan |  |  | 2,047,269 |  |  |  | 2,058,619 |
Montrose 2017 Stock Incentive Plan |  |  | 3,944,750 |  |  |  | 1,057,785 |
Common stock reserved for future issuance |  |  | 5,992,019 |  |  |  | 3,766,994 |
Montrose Amended & Restated 2017 Stock Incentive Plan |
Summary of Stock Option Activity | The following summarizes the options activity of the 2017 Plan:
|  | Options to Purchase Common Stock |  |  | Weighted- Average Exercise Price per Share |  |  | Weighted Average Grant Date Fair Value per Share |  |  | Weighted Average Remaining Contract Life (in Years) |  |  | Aggregate Intrinsic Value of In-The- Money Options (in Thousands) |
Outstanding at January 1, 2020 |  |  | 617,852 |  |  | $ | 24 |  |  | $ | 12 |  |  |  | 7.82 |  |  | $ | 4,696 |
Granted |  |  | 158,062 |  |  |  | 32 |  |  |  | 12 |  |  |  | — |  |  |  | — |
Forfeited/ cancelled |  |  | (2,000 | ) |  |  | 32 |  |  |  | — |  |  |  | — |  |  |  | — |
Outstanding at March 31, 2020 |  |  | 773,914 |  |  |  | 26 |  |  |  | 12 |  |  |  | 8.50 |  |  |  | 4,693 |
Outstanding at January 1, 2021 |  |  | 1,840,229 |  |  |  | 23 |  |  |  | 12 |  |  |  | 9.09 |  |  |  | 15,598 |
Granted |  |  | 224,270 |  |  |  | 38 |  |  |  | 20 |  |  |  | — |  |  |  | — |
Forfeited/ cancelled |  |  | (10,000 | ) |  |  | 26 |  |  |  | — |  |  |  | — |  |  |  | — |
Expired |  |  | (1,250 | ) |  |  | 18 |  |  |  | — |  |  |  | — |  |  |  | — |
Exercised |  |  | (17,188 | ) |  |  | 16 |  |  |  | — |  |  |  | — |  |  |  | 519 |
Outstanding at March 31, 2021 |  |  | 2,036,061 |  |  |  | 24 |  |  |  | 13 |  |  |  | 8.97 |  |  |  | 52,317 |
Exercisable at March 31, 2021 |  |  | 218,379 |  |  |  | 24 |  |  |  | — |  |  |  | 7.79 |  |  |  | 5,702 |
Options vested and expected to vest |  |  | 2,036,061 |  |  |  | 24 |  |  |  | — |  |  |  | 8.97 |  |  |  | 52,317 |
Montrose Amended and Restated 2013 Stock Option Plan |
Summary of Stock Option Activity | The following summarizes the activity of the 2013 Plan:
|  | Options to Purchase Common Stock |  |  | Weighted- Average Exercise Price per Share |  |  | Weighted Average Grant Date Fair Value per Share |  |  | Weighted Average Remaining Contract Life (in Years) |  |  | Aggregate Intrinsic Value of In-The- Money Options (in Thousands) |
Outstanding at January 1, 2020 |  |  | 1,855,469 |  |  | $ | 6 |  |  | $ | 1 |  |  |  | 6.14 |  |  |  | 46,617 |
Expired |  |  | (725 | ) |  |  | 6 |  |  |  | — |  |  |  | — |  |  |  | — |
Outstanding at March 31, 2020 |  |  | 1,854,744 |  |  |  | 6 |  |  |  | 1 |  |  |  | 6.14 |  |  |  | 46,521 |
Outstanding at January 1, 2021 |  |  | 1,787,869 |  |  |  | 6 |  |  |  | — |  |  |  | 5.40 |  |  |  | 43,867 |
Exercised |  |  | (311,872 | ) |  |  | 6 |  |  |  | — |  |  |  | — |  |  |  | 12,321 |
Outstanding at March 31, 2021 |  |  | 1,475,997 |  |  |  | 6 |  |  |  | — |  |  |  | 5.14 |  |  |  | 64,492 |
Exercisable at March 31, 2021 |  |  | 1,456,922 |  |  |  | 6 |  |  |  | — |  |  |  | 5.13 |  |  |  | 63,740 |
Options vested and expected to vest |  |  | 1,475,997 |  |  |  | 6 |  |  |  | — |  |  |  | 5.14 |  |  |  | 64,492 |

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