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Stock Option Plan (Tables)

6 Months Ended

Jun. 30, 2022

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 (in thousands)
Outstanding, December 31, 2021						2,014,330						$	12.10					7.87						$	5,428
Granted						63,000						$	5.25
Forfeited						(102,110)						$	13.79
Expired						(25,846)						$	14.39
Outstanding, June 30, 2022						1,949,374						$	11.76					7.00						$	2,611
Vested and expected to vest, June 30, 2022						1,949,374						$	11.76					7.00						$	2,611
Options exercisable, June 30, 2022						1,334,116						$	10.76					6.55						$	2,365

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 (in thousands)
Outstanding, December 31, 2021						415,325						$	16.54					$	4,830
Awards granted						540,225						$	8.66
Awards released						(90,821)						$	17.05
Awards canceled						(79,789)						$	11.96
Outstanding, June 30, 2022						784,940						$	11.53					$	4,506

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 June 30,												Six Months Ended June 30,
						2022						2021						2022						2021
Expected volatility						54%						83%						54%						83%-84%
Risk-free interest rate						3.4%						1.1%						3.4%						0.8%-1.1%
Dividend yield						—						—						—						—
Expected term (in years)						5.50						5.50-6.08						5.50						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 June 30,												Six Months Ended June 30,
						2022						2021						2022						2021
Expected volatility						45%						60%						45%						60%
Risk-free interest rate						0.6%						0.1%						0.6%						0.1%
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 statements of operations is as follows (in thousands):

 

						Three Months Ended June 30,												Six Months Ended June 30,
						2022						2021						2022						2021
Costs of revenue						$	59					$	61					$	103					$	72
Selling, general and administrative						1,203						1,049						2,321						1,840
Research and development						178						175						392						285
Total						$	1,440					$	1,285					$	2,816					$	2,197

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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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