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Employee Benefit Plans and Stock-based Compensation (Tables) | 12 Months Ended
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Dec. 31, 2022
Employee Benefit Plans and Stock-based Compensation |
Summary of stock option activity | The following table summarizes the stock option transactions for each of the years ended December 31, 2020, 2021 and 2022 (in thousands, except per share data):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | Weighted- | ​ | ​ | ​ | ​
​ |  | ​ |  | ​ | ​ |  | average |  | ​ | ​ |
​ | ​ | ​ | ​ | Weighted- | ​ | Remaining | ​ | ​ | ​ |
​ | ​ | Number of | ​ | average | ​ | Contractual | ​ | Aggregate |
​ | ​ | Options | ​ | Exercise | ​ | Life | ​ | Intrinsic |
Stock Options |  | Outstanding |  | Price |  | (in years) |  | Value |
​ | ​ | ​ | ​ | ​ | ​ |  | ​ | ​ | ​ | ​ | ​
Balance as of January 1, 2020 |  | 2,953 | ​ | $ | 4.00 |  | 5.95 | ​ | $ | 3,040 | ​
Granted |  | — | ​ |  | — | ​ | ​ | ​ | ​ | ​ | ​
Exercised |  | (905) | ​ |  | 2.80 | ​ | ​ | ​ | ​ | ​ | ​
Canceled and expired |  | (163) | ​ |  | 5.85 | ​ | ​ | ​ | ​ | ​ | ​
Balance as of December 31, 2020 |  | 1,885 | ​ | $ | 4.42 |  | 6.17 | ​ | $ | 9,713 | ​
Granted |  | — | ​ |  | — | ​ | ​ | ​ | ​ | ​ | ​
Exercised |  | (507) | ​ |  | 3.30 | ​ | ​ | ​ | ​ | ​ | ​
Canceled and expired |  | — | ​ |  | — | ​ | ​ | ​ | ​ | ​ | ​
Balance as of December 31, 2021 | ​ | 1,378 | ​ | $ | 4.83 |  | 5.60 | ​ | $ | 5,573 | ​
Granted |  | — | ​ |  | — | ​ | ​ | ​ | ​ | ​ | ​
Exercised |  | (172) | ​ | ​ | 3.02 | ​ | ​ | ​ | ​ | ​ | ​
Canceled and expired |  | — | ​ | ​ | — | ​ | ​ | ​ | ​ | ​ | ​
Balance as of December 31, 2022 |  | 1,206 | ​ | $ | 5.09 |  | 5.08 | ​ | $ | 630 | ​
Options vested as of December 31, 2022 and unvested options expected to vest, net of forfeitures |  | 1,206 | ​ | $ | 5.09 |  | 5.08 | ​ | $ | 629 | ​
Options exercisable as of December 31, 2022 |  | 1,083 | ​ | $ | 5.32 |  | 4.87 | ​ | $ | 467 | ​
​
Summary of options outstanding and exercisable by exercise price ranges | The options outstanding and exercisable as of December 31, 2022 were in the following exercise price ranges (in thousands, except per share data):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Options Vested and |
​ | ​ | ​ | ​ | ​ | ​ | Options Outstanding as of | ​ | Exercisable as of |
​ | ​ | ​ | ​ | ​ | ​ | December 31, 2022 | ​ | December 31, 2022 |
​ | ​ | ​ | ​ | ​ | ​ | ​ |  | ​ | ​ |  | Weighted‑average |  | ​ |  | ​ | ​ |
Range of | ​ | ​ | ​ | Weighted‑average |  | Remaining | ​ | ​ | ​ | Weighted‑Average |
Exercise Price | ​ | Shares | ​ | Exercise Price |  | Contractual Life | ​ | Shares | ​ | Exercise Price |
$ | 2.14 | - | $ | 2.14 | ​ | 8 | ​ | $ | 2.14 |  | 1.33 |  | 8 | ​ | $ | 2.14 | ​
$ | 2.18 | - | $ | 2.18 | ​ | 56 | ​ | $ | 2.18 |  | 2.83 |  | 56 | ​ | $ | 2.18 | ​
$ | 2.36 | - | $ | 2.36 | ​ | 1 | ​ | $ | 2.36 |  | 0.84 |  | 1 | ​ | $ | 2.36 | ​
$ | 2.47 | - | $ | 2.47 | ​ | 17 | ​ | $ | 2.47 |  | 1.84 |  | 17 | ​ | $ | 2.47 | ​
$ | 2.56 | - | $ | 2.56 | ​ | 11 | ​ | $ | 2.56 |  | 3.01 |  | 11 | ​ | $ | 2.56 | ​
$ | 3.06 | - | $ | 3.06 | ​ | 329 | ​ | $ | 3.06 |  | 6.85 |  | 206 | ​ | $ | 3.06 | ​
$ | 5.21 | - | $ | 5.21 | ​ | 355 | ​ | $ | 5.21 |  | 3.82 |  | 355 | ​ | $ | 5.21 | ​
$ | 5.77 | - | $ | 5.77 | ​ | 245 | ​ | $ | 5.77 |  | 5.85 |  | 245 | ​ | $ | 5.77 | ​
$ | 7.95 | - | $ | 7.95 | ​ | 60 | ​ | $ | 7.95 |  | 4.08 |  | 60 | ​ | $ | 7.95 | ​
$ | 9.50 | - | $ | 9.50 | ​ | 124 | ​ | $ | 9.50 |  | 4.82 |  | 124 | ​ | $ | 9.50 | ​
​ | ​ | ​ | ​ | ​ | ​ | 1,206 | ​ | $ | 5.09 |  | 5.08 |  | 1,083 | ​ | $ | 5.32 | ​
​
Summary of restricted stock awards activity | A summary of activity related to restricted stock awards for the years ended December 31, 2020, 2021 and 2022 is presented below (in thousands, except per share data):
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ |  | Weighted-Average |
​ | ​ | ​ | ​ | Grant Date |
Stock Awards |  | Shares |  | Share Value |
Non-vested as of January 1, 2020 |  | 939 | ​ | $ | 5.02 | ​
Granted |  | 443 | ​ | $ | 5.94 | ​
Vested |  | (347) | ​ | $ | 5.44 | ​
Forfeited |  | (13) | ​ | $ | 5.54 | ​
Non-vested as of December 31, 2020 |  | 1,022 | ​ | $ | 5.27 | ​
Granted |  | 274 | ​ | $ | 9.07 | ​
Vested |  | (407) | ​ | $ | 5.70 | ​
Forfeited |  | (14) | ​ | $ | 5.38 | ​
Non-vested as of December 31, 2021 | ​ | 875 | ​ | $ | 6.26 | ​
Granted |  | 513 | ​ | $ | 4.67 | ​
Vested |  | (387) | ​ | $ | 6.01 | ​
Forfeited | ​ | (17) | ​ | $ | 5.34 | ​
Non-vested as of December 31, 2022 |  | 984 | ​ | $ | 5.55 | ​
​
Summary of unvested at-risk performance shares | A summary of the status of our unvested at-risk, performance shares as of December 31, 2022 is presented below (in thousands, except per share data):
​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ |  | Weighted-Average
​ | ​ | ​ | ​ | Grant Date
Stock Awards |  | Shares |  | Share Value
Non-vested as of January 1, 2021 |  | — | ​ | $ | ​
Granted |  | 152 | * | $ | 15.37
Vested |  | (38) | ​ | $ | 15.37
Forfeited |  | — | ​ | $ | —
Non-vested as of December 31, 2021 | ​ | 114 | ​ | $ | 15.37
Granted |  | 74 | ​ | $ | 7.83
Vested |  | (76) | ​ | $ | 15.37
Forfeited | ​ | (74) | ​ | $ | 7.83
Non-vested as of December 31, 2022 |  | 38 | ​ | $ | 15.37
*The number of share presented is based on achieving 150% of the targeted financial performance metric as defined in the at-risk, performance shares agreement.
Summary of common stock reserved for future issuance | The following number of shares of common stock were reserved and available for future issuance as of December 31, 2022 (in thousands, except per share data):
​ | ​ | ​ | ​
Options outstanding |  | 1,206 | ​
Restricted stock awards outstanding |  | 1,022 | ​
Stock available for future grant: 2015 Equity Incentive Plan |  | 2,800 | ​
Total |  | 5,028 | ​
​
Summary of compensation costs related to stock-based awards |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year Ended | ​
​ | ​ | December 31, | ​
​ |  | 2022 |  | 2021 | ​ | 2020 |
Cost of revenue | ​ | $ | 379 | ​ | $ | 368 | ​ | $ | 116 | ​
Selling, general and administrative | ​ |  | 2,947 | ​ |  | 3,514 | ​ |  | 2,000 | ​
Research and development | ​ |  | 680 | ​ |  | 637 | ​ |  | 507 | ​
Net effect on net income | ​ | $ | 4,006 | ​ | $ | 4,519 | ​ | $ | 2,623 | ​
Shares used in computing basic net income per share | ​ |  | 42,104 | ​ |  | 41,367 | ​ |  | 40,152 | ​
Shares used in computing diluted net income per share | ​ |  | 42,715 | ​ |  | 42,720 | ​ |  | 41,025 | ​
Effect on basic net income per share | ​ | $ | 0.10 | ​ | $ | 0.11 | ​ | $ | 0.07 | ​
Effect on diluted net income per share | ​ | $ | 0.09 | ​ | $ | 0.11 | ​ | $ | 0.06 | ​
​

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