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SHARE-BASED COMPENSATION | 12 Months Ended
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Dec. 31, 2023
Disclosure Of Compensation Related Costs Share-based Payments [Abstract] |
Share-Based Compensation | 15. SHARE-BASED COMPENSATION The amount of share-based compensation expense recognized by the Company by location in its Statements of Operations for the years ended December 31, 2023, 2022 and 2021 is as follows (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | Years ended December 31,
​ | ​ | ​ | ​ | 2023 | ​ | 2022 | ​ | 2021
Cost of revenues | ​ | ​ | ​ | $ | 140 | ​ | $ | 130 | ​ | $ | 79
Sales and marketing | ​ | ​ | ​ |  | 2,330 | ​ |  | 4,286 | ​ |  | 2,096
General and administrative | ​ | ​ | ​ |  | 4,172 | ​ |  | 3,868 | ​ |  | 5,496
Research and development | ​ | ​ | ​ |  | 677 | ​ |  | 462 | ​ |  | 198
Total | ​ | ​ | ​ | $ | 7,319 | ​ | $ | 8,746 | ​ | $ | 7,869
​ 2018 Equity Incentive Plan In June 2018, the Company adopted the 2018 Plan, which authorized the issuance of up to 1.4 million shares, subject to an annual 4% increase based on the number of shares of common stock outstanding, in the form of restricted stock, stock appreciation rights and stock options to the Company’s directors, employees and consultants. The amount and terms of grants are determined by the Company’s board of directors. All stock options granted to date have had exercise prices equal to the fair value, as determined by the closing price as reported by the Nasdaq Global Market, of the underlying common stock on the date of grant. The contractual term of stock options is up to 10 years, and stock options are exercisable in cash or as otherwise determined by the board of directors. Generally, stock options vest 25% upon the first anniversary of the date of grant and the remainder ratably monthly thereafter for 36 months. Restricted stock units generally vest ratably in three equal installments on the first, second and third anniversaries of the grant date. PRSUs generally vest based on appreciation of the Company’s common stock to a certain price as determined by the Company’s board of directors measured using a trailing 30-day volume weighted average price of a share of the Company’s common stock. The fair value of the PRSU awards are determined using a risk neutral Monte Carlo simulation valuation model. As of December 31, 2023, there were 0.7 million shares available for future issuance under the 2018 Plan. 2020 Inducement Incentive Plan In December 2020, the Company adopted the 2020 Inducement Incentive Plan, which authorized the issuance of up to 0.4 million shares in the form of stock options, stock appreciation rights, restricted stock awards, restricted stock unit awards, performance stock awards and other stock awards to eligible employees who satisfy the standards for inducement grants under Nasdaq global market rules. In March 2022, the Company’s board of directors approved an additional 0.5 million shares for issuance under the plan. An individual who previously served as an employee or director of the Company is not eligible to receive awards under this plan. The amount and terms of grants are determined by the Company’s board of directors. As of December 31, 2023, there were 0.3 million shares available for future issuance under the 2020 Inducement Incentive Plan. Stock Options The following table summarizes the Company’s stock option activity for the years ended December 31, 2023, 2022 and 2021: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  |  |  |  | ​ |  | Weighted- |  | Aggregate
​ | ​ | Number of | ​ | Weighted- | ​ | average | ​ | average
​ | ​ | Shares under | ​ | average | ​ | Remaining | ​ | Intrinsic
​ | ​ | Option | ​ | Exercise Price | ​ | Contractual | ​ | Value
​ | ​ | (in thousands) | ​ | per Option | ​ | Life (in years) | ​ | (in thousands)
Outstanding at December 31, 2020 |  | 2,365 | ​ | $ | 4.62 |  |  |  | ​ |
Granted |  | — | ​ | $ | — |  |  |  | ​ |
Exercised |  | (698) | ​ | $ | 4.01 |  |  |  | ​ |
Forfeited |  | (168) | ​ | $ | 14.32 |  |  |  | ​ |
Outstanding at December 31, 2021 |  | 1,499 | ​ | $ | 4.01 |  |  |  | ​ |
Granted |  | — | ​ | $ | — |  |  |  | ​ |
Exercised |  | (168) | ​ | $ | 1.77 |  |  |  | ​ |
Forfeited |  | (30) | ​ | $ | 13.81 |  |  |  | ​ |
Outstanding at December 31, 2022 |  | 1,301 | ​ | $ | 4.07 |  | ​ |  | ​ | ​
Granted |  | — | ​ | $ | — |  |  |  | ​ |
Exercised |  | (1) | ​ | $ | 1.63 |  | ​ |  | ​ |
Forfeited |  | (30) | ​ | $ | 11.67 |  |  |  | ​ |
Outstanding at December 31, 2023 |  | 1,270 | ​ | $ | 3.90 |  | 6.0 |  | $ | 862
Exercisable at December 31, 2023 |  | 1,123 | ​ | $ | 4.15 |  | 6.0 |  | $ | 728
Vested and expected to vest at December 31, 2023 |  | 1,270 | ​ | $ | 3.90 |  | 6.0 |  | $ | 862
​ The Company recognized share-based compensation expense related to stock options of $0.4 million, $0.7 million and $0.8 million for the years ended December 31, 2023, 2022 and 2021, respectively. As of December 31, 2023, there was $0.1 million of total unrecognized compensation cost related to non-vested stock options which the Company expects to recognize over a weighted-average period of 0.5 years. The total intrinsic value of stock options exercised during the years ended December 31, 2023, 2022 and 2021 was $0.0 million, $0.2 million, and $8.2 million, respectively. Restricted Stock Units The following table summarizes the Company’s restricted stock unit and performance restricted stock unit activity for the years ended December 31, 2023, 2022 and 2021: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Non-vested |  | ​ | Weighted- |  | Non-vested |  | ​ | Weighted-
​ | ​ | Restricted | ​ | ​ | average | ​ | PRSUs | ​ | ​ | average
​ | ​ | Stock Units | ​ | ​ | Grant-date | ​ | ​ | ​ | ​ | Grant-date
​ | ​ | (in thousands) | ​ | ​ | Fair Value | ​ | (in thousands) | ​ | ​ | Fair Value
Non-vested at December 31, 2020 |  | 1,860 | ​ | $ | 3.58 |  | 500 | ​ | $ | 1.71
Granted |  | 1,008 | ​ | $ | 11.51 |  | 145 | ​ | $ | 15.59
Vested |  | (780) | ​ | $ | 3.63 |  | (250) | ​ | $ | 1.77
Forfeited | ​ | (359) | ​ | $ | 7.86 | ​ | — | ​ | $ | —
Non-vested at December 31, 2021 |  | 1,729 | ​ | $ | 7.29 |  | 395 | ​ | $ | 6.77
Granted |  | 2,902 | ​ | $ | 3.36 |  | — | ​ | $ | —
Vested |  | (705) | ​ | $ | 7.32 |  | — | ​ | $ | —
Forfeited |  | (420) | ​ | $ | 5.35 |  | — | ​ | $ | —
Non-vested at December 31, 2022 | ​ | 3,506 | ​ | $ | 4.29 |  | 395 | ​ | $ | 6.77
Granted |  | 1,674 | ​ | $ | 4.68 |  | — | ​ | $ | —
Vested |  | (1,823) | ​ | $ | 4.32 |  | — | ​ | $ | —
Forfeited |  | (392) | ​ | $ | 5.50 |  | — | ​ | $ | —
Non-vested at December 31, 2023 |  | 2,965 | ​ | $ | 4.37 |  | 395 | ​ | $ | 6.77
​ The Company recognized share-based compensation expense related to restricted stock units and performance restricted stock units of $6.9 million, $8.1 million, and $7.1 million during the years ended December 31, 2023, 2022 and 2021, respectively. As of December 31, 2023, there was $7.7 million of unrecognized compensation cost related to non-vested restricted stock units and performance restricted stock units that the Company expects to recognize over a weighted-average period of 1.7 years. The total fair value at the vesting date of restricted stock units and performance restricted stock units vested during the years ended December 31, 2023, 2022 and 2021 was $8.6 million, $2.5 million, and $14.1 million, respectively. ​ The Company did not grant performance restricted stock units during the years ended December 31, 2023 and 2022. For the year ended December 31, 2021, the grant-date fair value of the performance restricted stock units was estimated at the time of grant using the following inputs and assumptions in the Monte Carlo simulation valuation model: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | 2021 |
Closing price of common stock | ​ | ​ | ​ | $ | 15.92 | ​
Risk-free interest rate | ​ | ​ | ​ |  | 1.15 | %
Expected volatility | ​ | ​ | ​ |  | 99.7 | %
​

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