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Stock Option Plan (Tables)

12 Months Ended

Dec. 31, 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						(11,950)						$	7.40
Forfeited						(128,665)						$	14.44
Expired						(50,666)						$	17.18
Outstanding, December 31, 2021						2,014,330						$	12.10					7.87						$	5,428
Vested and expected to vest, December 31, 2021						2,014,330						$	12.10					7.87						$	5,428
Options exercisable, December 31, 2021						1,050,036						$	10.17					7.53						$	4,262

Schedule of Share-based Payment Arrangement, 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						449,000						$	16.51
Awards released						—						$	—
Awards canceled						(33,675)						$	16.24
Outstanding, December 31, 2021						415,325						$	16.54					$	4,830

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:

 

												Years Ended December 31,
																		2021						2020
Expected volatility																		56%-60%						47%-53%
Risk-free interest rate																		0.8%-1.1%						0.4%-1.7%
Dividend yield																		—						—
Expected term (in years)																		5.50-6.08						5.5-6.08

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

 

												Years Ended December 31,
																		2021						2020
Expected volatility																		45%-60%						58.0%-83.0%
Risk-free interest rate																		0.1%						0.1%-1.1%
Dividend yield																		—						—
Expected term (in years)																		0.5						0.5

Stock-based compensation expense related to the ESPP for the years ended December 31, 2021 and 2020 was $0.2 million and less than $0.1 million, respectively. As of December 31, 2021, total unrecognized compensation cost related to stock purchase rights granted under the ESPP was less than $0.1 million, which is expected to be recognized over a remaining weighted-average vesting period of 0.2 years.

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 statement of operations is as follows (in thousands):

 

												Years Ended December 31,
																		2021						2020
Cost of revenue																		$	164					$	33
Selling, general and administrative																		3,943						2,419
Research and development																		621						242
Total																		$	4,728					$	2,694

Schedule of Common Stock Reserved For Future Issuance

Common stock reserved for future issuance consists of the following at December 31, 2021:

Warrants to purchase common stock						1,214,059
Common stock option grants issued and outstanding						2,014,330
Common stock reserved for issuance upon vesting of outstanding restricted stock units						415,325
Common shares available for grant under the 2019 Plan						1,179,571
Common shares available for future issuance under ESPP						327,516
Total						5,150,801

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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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