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Stockholders' Equity (Tables) | 12 Months Ended
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Dec. 31, 2021
Equity [Abstract] |
Summary of Stock Options Activity | The activity for stock options under the Company’s stock plans for the years ended December 31, 2021, 2020 and 2019 is as follows:
|  |  |  |  |  |  |  |  |  |  | Remaining |  |  |  |  |
|  |  |  |  |  |  |  |  |  |  | weighted- |  |  |  |  |
|  |  |  |  |  |  | Weighted- |  |  | average |  |  | Per share |
|  |  |  |  |  |  | average |  |  | contractual |  |  | average |
|  |  |  |  | Price per |  | exercise |  |  | terms |  |  | intrinsic |
| Options |  |  | share |  | price |  |  | (in years) |  |  | value |
Outstanding as of December 31, 2018 |  | 1,127,336 |  |  | $0.75-$83.30 |  | $ | 34.89 |  |  |  | 3.84 |  |  | $ | 89.28 |
Exercised |  | (109,291 | ) |  | 0.75-58.95 |  |  | 28.45 |  |  |  |  |  |  |  |  |
Forfeited |  | (37,161 | ) |  | 38.54-58.95 |  |  | 44.58 |  |  |  |  |  |  |  |  |
Outstanding as of December 31, 2019 |  | 980,884 |  |  | 0.75-83.30 |  |  | 35.24 |  |  |  | 2.84 |  |  |  | 34.07 |
Vested and exercisable as of December 31, 2019 |  | 929,825 |  |  | 0.75-83.30 |  |  | 34.73 |  |  |  | 2.81 |  |  |  | 34.64 |
Vested and expected to vest as of December 31, 2019 |  | 977,589 |  |  | 0.75-83.30 |  |  | 35.21 |  |  |  | 2.84 |  |  |  | 34.11 |
Outstanding as of December 31, 2019 |  | 980,884 |  |  | 0.75-83.30 |  |  | 35.24 |  |  |  | 2.84 |  |  |  | 34.07 |
Exercised |  | (18,626 | ) |  | 1.17-44.19 |  |  | 17.81 |  |  |  |  |  |  |  |  |
Forfeited |  | (6,779 | ) |  | 44.19-56.72 |  |  | 48.23 |  |  |  |  |  |  |  |  |
Outstanding as of December 31, 2020 |  | 955,479 |  |  | 0.75-83.30 |  |  | 35.49 |  |  |  | 1.85 |  |  |  | 11.81 |
Vested and exercisable as of December 31, 2020 |  | 955,479 |  |  | 0.75-83.30 |  |  | 35.49 |  |  |  | 1.85 |  |  |  | 11.81 |
Vested and expected to vest as of December 31, 2020 |  | 955,479 |  |  | 0.75-83.30 |  |  | 35.49 |  |  |  | 1.85 |  |  |  | 11.81 |
Outstanding as of December 31, 2020 |  | 955,479 |  |  | 0.75-83.30 |  |  | 35.49 |  |  |  | 1.85 |  |  |  | 11.81 |
Exercised |  | (486,038 | ) |  | 0.75-46.66 |  |  | 28.19 |  |  |  |  |  |  |  |  |
Forfeited |  | (10,000 | ) |  | 83.30 |  |  | 83.30 |  |  |  |  |  |  |  |  |
Outstanding as of December 31, 2021 |  | 459,441 |  |  | 1.17-83.30 |  |  | 42.18 |  |  |  | 1.36 |  |  |  | 4.31 |
Vested and exercisable as of December 31, 2021 |  | 459,441 |  |  | 1.17-83.30 |  |  | 42.18 |  |  |  | 1.36 |  |  |  | 4.31 |
Vested and expected to vest as of December 31, 2021 |  | 459,441 |  |  | $1.17-$83.30 |  | $ | 42.18 |  |  |  | 1.36 |  |  | $ | 4.31 |
Summary of Restricted Stock Activity | Stock Awards activity for the years ended December 31, 2021, 2020 and 2019 is summarized below:
|  |  |  |  |  |  |  |  |  |  |  |  | Weighted- |
|  |  |  |  |  |  |  |  |  |  |  |  | average |
|  |  |  |  |  |  |  |  |  |  |  |  | grant |
|  |  |  |  | Performance |  |  |  |  |  |  | date fair |
|  |  |  |  | and |  |  |  |  |  |  | value |
Restricted stock units | Time-based |  |  | time-based |  |  | Total |  |  | per share |
Unvested restricted stock units as of December 31, 2018 (1) |  | 58,589 |  |  | $ | 8,739 |  |  |  | 67,328 |  |  | $ | 115.16 |
Granted |  | 87,902 |  |  |  | — |  |  |  | 87,902 |  |  |  | 75.56 |
Vested |  | (24,680 | ) |  |  | (4,366 | ) |  |  | (29,046 | ) |  |  | 123.53 |
Forfeited/canceled |  | (12,835 | ) |  |  | (1,239 | ) |  |  | (14,074 | ) |  |  | 102.89 |
Unvested restricted stock units as of December 31, 2019 (1) |  | 108,976 |  |  |  | 3,134 |  |  |  | 112,110 |  |  | $ | 83.48 |
Unvested and expected to vest restricted stock units outstanding as of December 31, 2019 |  |  |  |  |  |  |  |  |  | 103,087 |  |  | $ | 83.22 |
Unvested restricted stock units as of December 31, 2019 |  | 108,976 |  |  |  | 3,134 |  |  |  | 112,110 |  |  | $ | 83.48 |
Granted |  | 210,622 |  |  |  | 88,458 |  |  |  | 299,080 |  |  |  | 43.52 |
Vested |  | (49,636 | ) |  |  | — |  |  |  | (49,636 | ) |  |  | 83.31 |
Forfeited/canceled |  | (24,500 | ) |  |  | (3,134 | ) |  |  | (27,634 | ) |  |  | 70.60 |
Unvested restricted stock units as of December 31, 2020 (1) |  | 245,462 |  |  |  | 88,458 |  |  |  | 333,920 |  |  | $ | 49.29 |
Unvested and expected to vest restricted stock units outstanding as of December 31, 2020 |  |  |  |  |  |  |  |  |  | 246,420 |  |  | $ | 49.82 |
Unvested restricted stock units as of December 31, 2020 |  | 245,462 |  |  |  | 88,458 |  |  |  | 333,920 |  |  | $ | 49.29 |
Granted |  | 240,044 |  |  |  | 88,902 |  |  |  | 328,946 |  |  |  | 56.01 |
Vested |  | (109,504 | ) |  |  | — |  |  |  | (109,504 | ) |  |  | 52.79 |
Forfeited/canceled |  | (86,836 | ) |  |  | (78,248 | ) |  |  | (165,084 | ) |  |  | 46.88 |
Unvested restricted stock units as of December 31, 2021 (1) |  | 289,166 |  |  |  | 99,112 |  |  |  | 388,278 |  |  | $ | 54.81 |
Unvested and expected to vest restricted stock units outstanding as of December 31, 2021 |  |  |  |  |  |  |  |  |  | 331,358 |  |  | $ | 54.98 |
|  |  |  |  |  |  |  |  |  |  |  |  | Weighted- |
|  |  |  |  |  |  |  |  |  |  |  |  | average |
|  |  |  |  |  |  |  |  |  |  |  |  | grant |
|  |  |  |  | Performance |  |  |  |  |  |  | date fair |
|  |  |  |  | and |  |  |  |  |  |  | value |
Restricted stock awards | Time-based |  |  | time-based |  |  | Total |  |  | per share |
Unvested restricted stock awards outstanding as of December 31, 2018 (1) |  | 36,937 |  |  |  | 47,821 |  |  |  | 84,758 |  |  | $ | 115.80 |
Granted |  | 54,853 |  |  |  | 40,166 |  |  |  | 95,019 |  |  |  | 86.10 |
Vested |  | (13,627 | ) |  |  | (15,732 | ) |  |  | (29,359 | ) |  |  | 115.37 |
Forfeited/canceled |  | (7,093 | ) |  |  | (9,627 | ) |  |  | (16,720 | ) |  |  | 109.11 |
Unvested restricted stock awards outstanding as of December 31, 2019 (1) |  | 71,070 |  |  |  | 62,628 |  |  |  | 133,698 |  |  | $ | 95.74 |
Unvested and expected to vest restricted stock awards outstanding as of December 31, 2019 |  |  |  |  |  |  |  |  |  | 79,473 |  |  | $ | 90.31 |
Unvested restricted stock awards outstanding as of December 31, 2019 |  | 71,070 |  |  |  | 62,628 |  |  |  | 133,698 |  |  | $ | 95.74 |
Vested |  | (28,994 | ) |  |  | — |  |  |  | (28,994 | ) |  |  | 89.37 |
Forfeited/canceled |  | — |  |  |  | (29,273 | ) |  |  | (29,273 | ) |  |  | 110.27 |
Unvested restricted stock awards outstanding as of December 31, 2020 (1) |  | 42,076 |  |  |  | 33,355 |  |  |  | 75,431 |  |  | $ | 93.96 |
Unvested and expected to vest restricted stock awards outstanding as of December 31, 2020 |  |  |  |  |  |  |  |  |  | 44,159 |  |  | $ | 85.90 |
Unvested restricted stock awards outstanding as of December 31, 2020 |  | 42,076 |  |  |  | 33,355 |  |  |  | 75,431 |  |  | $ | 93.96 |
Vested |  | (15,728 | ) |  |  | — |  |  |  | (15,728 | ) |  |  | 91.17 |
Forfeited/canceled |  | (15,932 | ) |  |  | (27,726 | ) |  |  | (43,658 | ) |  |  | 98.05 |
Unvested restricted stock awards outstanding as of December 31, 2021 (1) |  | 10,416 |  |  |  | 5,629 |  |  |  | 16,045 |  |  | $ | 87.12 |
Unvested and expected to vest restricted stock awards outstanding as of December 31, 2021 |  |  |  |  |  |  |  |  |  | 15,532 |  |  | $ | 90.08 |
(1) | Outstanding restricted stock units and restricted stock awards are based on the maximum payout of the targeted number of shares.
Summary of Stock-based Compensation Expense | Stock-based compensation Stock-based compensation expense recognized for the years ended December 31, 2021, 2020 and 2019, was as follows:
(amounts in thousands) | Years ended December 31, |
Stock-based compensation expense by type of award: | 2021 |  |  | 2020 |  |  | 2019 |
Stock option plan awards | $ | — |  |  | $ | 709 |  |  | $ | 2,977 |
Restricted stock units and restricted stock awards |  | 10,229 |  |  |  | 6,717 |  |  |  | 5,413 |
Employee stock purchase plan |  | 714 |  |  |  | 777 |  |  |  | 739 |
Total stock-based compensation expense | $ | 10,943 |  |  | $ | 8,203 |  |  | $ | 9,129 |
For the years ended December 31, 2021, 2020 and 2019, respectively, stock-based compensation expense recognized under ASC 718, included in cost of revenue, research and development expense, sales and marketing expense, and general and administrative expense was as follows:
| Years ended December 31, |
(amounts in thousands) | 2021 |  |  | 2020 |  |  | 2019 |
Cost of revenue | $ | 1,106 |  |  | $ | 698 |  |  | $ | 890 |
Research and development |  | 1,276 |  |  |  | 969 |  |  |  | 1,100 |
Sales and marketing |  | 2,388 |  |  |  | 2,208 |  |  |  | 1,755 |
General and administrative |  | 6,173 |  |  |  | 4,328 |  |  |  | 5,384 |
Total stock-based compensation expense | $ | 10,943 |  |  | $ | 8,203 |  |  | $ | 9,129 |
Assumptions Applied to Estimate Fair Value of Shares Issued Under ESPP | The following table displays the assumptions that have been applied to estimate the fair value of the Company’s shares to be issued under the ESPP using the Black-Scholes option pricing model.
|  | 2021 |  |  | 2020 |  |  | 2019 |
Expected term (years) |  |  | 0.50 |  |  |  | 0.50 |  |  |  | 0.50 |
Risk free interest rate |  | 0.07-0.12% |  |  | 0.12-1.75% |  |  | 1.75-2.53% |
Expected dividend yield |  | None |  |  | None |  |  | None |
Volatility |  | 44.59-83.92% |  |  | 47.00-83.92% |  |  | 44.00-47.00% |

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