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Stock Option Plan (Tables)

9 Months Ended

Sep. 30, 2021

Share-based Payment Arrangement [Abstract]

Schedule of Stock Option Activity

Stock option activity under the Company's 2019 Plan is set forth below:

 

						Number of Options						Weighted- Average Exercise Price						Weighted- Average Remaining Contractual Term (Years)						Aggregate Intrinsic Value
Outstanding, December 31, 2020						1,975,761						$	11.81					8.71						$	6,750
Granted						229,850						$	16.79
Exercised						(11,188)						$	7.13
Forfeited						(122,435)						$	14.49
Expired						(4,931)						$	21.50
Outstanding, September 30, 2021						2,067,057						$	12.20					8.14						$	6,956
Vested and expected to vest, September 30, 2021						2,067,057						$	12.20					8.14						$	6,956
Options exercisable, September 30, 2021						979,111						$	10.30					7.77						$	4,794

Schedule of Restricted Stock Unit Activity

Restricted stock unit activity under the Company's 2019 Plan is set forth below:

						Number of Shares						Weighted- Average Grant Date Fair Value						Aggregate Intrinsic Value
Outstanding, December 31, 2020						—						$	—					$	—
Awards granted						422,150						$	16.81
Awards released						—						$	—
Awards canceled						(19,050)						$	16.28
Outstanding, September 30, 2021						403,100						$	16.84					$	5,482

Schedule of Fair Value Assumptions, Stock Options

The fair value of employee stock options was estimated using the following assumptions to determine the fair value of stock options granted:

 

						Three Months Ended September 30,												Nine Months Ended September 30,
						2021						2020						2021						2020
Expected volatility						86%						52%						83%-86%						47%-52%
Risk-free interest rate						0.9%						0.4%						0.8%-1.1%						0.4%-1.7%
Dividend yield						—						—						—						—
Expected term (in years)						5.77						6.08						5.50-6.08						5.50-6.08

Schedule of Fair Value Assumptions, Employee Stock Purchase Plan

The following assumptions were used to calculate the stock-based compensation for each stock purchase right granted under the ESPP:

						Three Months Ended September 30,												Nine Months Ended September 30,
						2021						2020						2021						2020
Expected volatility						45%						83%						45%-60%						58%-83%
Risk-free interest rate						0.1%						0.1%						0.1%						0.1%-1.1%
Dividend yield						—						—						—						—
Expected term (in years)						0.50						0.50						0.50						0.50

Schedule of Non-cash Stock-based Compensation Expense

Total non-cash stock-based compensation expense recorded related to options granted, restricted stock units granted and stock purchase rights granted under the ESPP in the condensed statement of operations is as follows (in thousands):

 

						Three Months Ended September 30,												Nine Months Ended September 30,
						2021						2020						2021						2020
Cost of revenue						$	64					$	9					$	136					$	21
Selling, general and administrative						1,115						710						2,955						1,696
Research and development						175						80						460						160
Total						$	1,354					$	799					$	3,551					$	1,877

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Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement.

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Tabular disclosure of the number and weighted-average grant date fair value for restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock units that were granted, vested, or forfeited during the year.

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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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Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions.

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