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Equity and Stock-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]  
Stock Activity and Total Number of Shares Available for Grant

The following table presents the stock activity and the total number of shares available for grant as of December 31, 2022:

 

 

 

(in thousands)

 

Balance at December 31, 2021

 

 

998

 

Options cancelled

 

 

71

 

Restricted stock granted

 

 

(507

)

Forfeited/ Expired restricted stock added back

 

 

147

 

Performance-Based restricted stock unearned

 

 

8

 

Performance-Based restricted stock granted

 

 

(167

)

Balance at December 31, 2022

 

 

550

 

Stock-based Compensation Expense

Total estimated stock-based compensation expense for employees and non-employees, related to all of the Company's stock-based awards, was comprised as follows:

 

 

 

Year ended December 31,

 

 

 

2022

 

 

2021

 

 

2020

 

 

 

(in thousands)

 

Cost of revenue

 

$

433

 

 

$

343

 

 

$

927

 

Selling and marketing

 

 

2,028

 

 

 

1,746

 

 

 

1,148

 

Research and development

 

 

1,444

 

 

 

1,379

 

 

 

664

 

General and administrative

 

 

4,079

 

 

 

4,188

 

 

 

2,810

 

Total stock-based compensation

 

$

7,984

 

 

$

7,656

 

 

$

5,549

 

Stock Option Activity

 

 

Options Outstanding

 

 

 

Number of
Shares
Underlying
Outstanding
Options

 

 

Weighted-
Average
Exercise
Price

 

 

Weighted-
Average
Remaining
Contractual
Term

 

 

Aggregate
Intrinsic
Value

 

 

 

 

 

 

 

 

 

(in years)

 

 

 

 

Outstanding at December 31, 2021

 

 

1,739,240

 

 

$

7.72

 

 

 

7.02

 

 

$

25,542,823

 

Granted

 

 

-

 

 

 

-

 

 

 

 

 

 

 

Exercised

 

 

(90,245

)

 

 

7.22

 

 

 

 

 

 

 

Forfeited

 

 

(71,450

)

 

 

9.71

 

 

 

 

 

 

 

Outstanding at December 31, 2022

 

 

1,577,545

 

 

$

7.66

 

 

 

5.81

 

 

$

2,465,015

 

Vested and expected to vest at December 31, 2022

 

 

1,571,949

 

 

$

7.73

 

 

 

5.80

 

 

$

2,460,325

 

Exercisable at December 31, 2022

 

 

1,283,196

 

 

$

7.55

 

 

 

5.49

 

 

$

2,252,404

 

Schedule of Weighted-Average Assumptions Plan was estimated on the date of grant using the Black-Scholes option pricing model with the following assumptions:

Expected term (in years)

 

 

-

 

Risk-free interest rate

 

 

-

 

Expected volatility

 

 

-

 

Dividend rate

 

 

-

 

Restricted Stock Activity

 

 

Shares

 

 

Weighted
Average
Grant Date
Fair Value
Per Share

 

Nonvested restricted stock at December 31, 2021

 

 

788,454

 

 

$

16.81

 

Granted

 

 

506,715

 

 

 

20.64

 

Vested

 

 

(282,588

)

 

 

16.19

 

Shares forfeited

 

 

(147,135

)

 

 

19.79

 

Nonvested restricted stock at December 31, 2022

 

 

865,446

 

 

$

18.75