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Stock-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2021

Stock-Based Compensation

Schedule of fair value assumptions of stock options

​

​	​	​	​
Expected life (years)	​	3.5 – 6.1
Risk-free interest rate	​	0.5% - 0.9	%
Volatility	​	64.4% - 80.8	%
Dividend yield	​	0	%

Schedule of share-based payment awards

We recognize stock-based compensation cost on a straight-line basis over the vesting period. Stock-based compensation expense is recognized only for those awards that ultimately vest.

Total stock-based compensation expense related to all of our share-based payment awards is comprised of the following:

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Three Months Ended June 30,

​

Six Months Ended June 30,

​

​

2021

2020

2021

2020

Cost of revenues

​

$

452

​

$

83

​

$

691

​

$

151

​

Selling, general and administrative

​

3,222

​

​

2,043

​

5,727

​

3,488

​

Engineering and development

​

350

​

​

175

​

597

​

283

​

​

​

$

4,024

​

$

2,301

​

$

7,015

​

$

3,922

​

Schedule of stock option activity

A summary of stock option activity is as follows:

​

​	​	​	​	​	​	​	​	​	​	​
​		​		​	​		Weighted-		​	​
​	​	​	​	Weighted-		​	Average	​	​	​
​	​	​	​	Average		​	Remaining	​	Aggregate
​	​	Number of	​	Exercise		​	Contractual	​	Intrinsic
​	​	Shares	​	Price/Share		​	Term (Years)	​	Value (1)
Outstanding — December 31, 2020		7,554,305	​	$	10.29				​
Granted (weighted-average fair value of $32.61 per share)		504,671	​	​	56.18				​
Exercised		(386,242)		​	9.02				​
Forfeited		(16.224)		​	23.97				​
Outstanding — June 30, 2021		7,656,510	​	$	13.35		6.2	​	$	381,115
Vested (exercisable) — June 30, 2021		5,890,689	​	$	8.26		5.6	​	$	323,018
Expected to vest after June 30, 2021 (unexercisable)		1,765,821	​	$	30.30		8.3	​	$	57,914

(1) Aggregate intrinsic value represents the difference between the exercise price of the option and the closing market price of our common stock on June 30, 2021, which was $63.10 per share.

Schedule of restricted stock unit activity

A summary of our restricted stock unit activity is as follows:

​	​	​	​	​	​
​	​	​	​	Weighted Average
​	​	Number of Restricted	​	Fair Value per
​	​	Stock Units	​	Share
Outstanding – December 31, 2020		—		$	—
Granted		345,571	​		54.61
Forfeited	​	(6,359)	​	​	53.58
Share issuance		—	​		—
Outstanding June 30, 2021		339,212	​	$	54.63

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Tabular disclosure of activity for award under share-based payment arrangement. Includes, but is not limited to, outstanding award at beginning and end of year, granted, exercised, forfeited, and weighted-average grant date fair value.

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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.

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