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Stock Plans (Tables) | 3 Months Ended
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Mar. 31, 2021
Schedule of Stock-based Compensation Expense | The Company’s stock-based compensation expense by type of award and by operating expense grouping are presented below:
|  | Three months ended |
|  | March 31, |
|  | 2021 |  |  | 2020 |
Stock-based compensation expense by type of award: |  |  |  |  |  |  |  |
Restricted stock units |  | $ | 4,171 |  |  | $ | 142 |
Stock awards |  |  | 19 |  |  |  | 62 |
Performance-based stock options |  |  | 16,314 |  |  |  | 1,968 |
Stock options |  |  | 837 |  |  |  | 2,149 |
Employee stock purchase plan |  |  | 150 |  |  |  | 135 |
Common stock issued for services |  |  | 119 |  |  |  | - |
Total |  | $ | 21,610 |  |  | $ | 4,456 |
Stock-based compensation expense by operating expense grouping: |  |  |  |  |  |  |  |
Sales and marketing |  | $ | 898 |  |  | $ | 178 |
Research and development |  |  | 1,019 |  |  |  | 237 |
General and administrative |  |  | 19,693 |  |  |  | 4,041 |
|  | $ | 21,610 |  |  | $ | 4,456 |
Schedule of Stock Award Activity | The Company’s stock award activity for the three months ended March 31, 2021 was as follows:
|  |  |  |  |  | Weighted |
|  |  |  |  |  | Average Grant |
|  | Shares |  |  | Date Fair Value |
Unvested at December 31, 2020 |  |  | - |  |  | $ | - |
Granted |  |  | 581 |  |  | $ | 32.33 |
Vested |  |  | (581 | ) |  | $ | 32.33 |
Unvested at March 31, 2021 |  |  | - |  |  |  |  |
Schedule of Restricted Stock Unit Activity | The Company’s restricted stock unit activity for the three months ended March 31, 2021 was as follows:
|  |  |  |  |  | Weighted |
|  |  |  |  |  | Average Grant |
|  | Shares |  |  | Date Fair Value |
Unvested at December 31, 2020 |  |  | 829,124 |  |  | $ | 11.53 |
Granted |  |  | 346,645 |  |  | $ | 47.37 |
Forfeited |  |  | (250 | ) |  | $ | 8.81 |
Vested |  |  | (217,899 | ) |  | $ | 4.73 |
Unvested at March 31, 2021 |  |  | 957,620 |  |  | $ | 26.05 |
Schedule of Stock Option Activity | The activity during the three months ended March 31, 2021 related to all other stock options was as follows:
|  |  |  |  |  | Weighted-Average |
|  |  |  |  |  |  |  |  |  | Remaining |  | Aggregate |
|  |  |  |  |  | Exercise |  |  | Contractual |  | Intrinsic |
|  | Options |  |  | Price |  |  | Term |  | Value |
Outstanding at December 31, 2020 |  |  | 5,400,070 |  |  | $ | 12.60 |  |  |  |  |  |  |
Granted |  |  | 92,000 |  |  | $ | 46.74 |  |  |  |  |  |  |
Exercised |  |  | (319,458 | ) |  | $ | 8.82 |  |  |  |  |  |  |
Forfeited |  |  | (33,397 | ) |  | $ | 9.05 |  |  |  |  |  |  |
Expired |  |  | (1,810 | ) |  | $ | 5.46 |  |  |  |  |  |  |
Outstanding at March 31, 2021 |  |  | 5,137,405 |  |  | $ | 13.47 |  |  | 6.77 years |  | $ | 56,355 |
Exercisable at March 31, 2021 |  |  | 4,074,911 |  |  | $ | 13.91 |  |  | 6.28 years |  | $ | 41,038 |
Employee Stock Purchase Plan [Member] |
Summary of Fair Value Assumptions of Stock Purchase Plan | The assumptions used in calculating the fair values of purchase rights granted under the ESPP during the three months ended March 31, 2021 are set forth in the table below:
Expected term (in years) |  | 0.5 - 2.0 |
Expected volatility |  | 101% - 119% |
Risk-free interest rate |  |  | 0.1 | %
Expected dividend yield |  |  | — |
Stock Options [Member] |
Schedule of Fair Value Assumptions | The following assumptions were used to compute the grant date fair values of the stock options granted during the three months ended March 31, 2021:
Expected term (in years) |  |  | 6.1 |
Expected volatility |  |  | 83 | %
Risk-free interest rate |  |  | 0.6 | %
Expected dividend yield |  |  | — |
Performance-based Stock Options [Member] |
Schedule of Stock Option Activity | The activity during the three months ended March 31, 2021 related to stock options that are subject to performance-based vesting conditions tied to the achievement of stock price goals by the Company was as follows:
|  |  |  |  |  | Weighted-Average |
|  |  |  |  |  |  |  |  |  | Remaining |  | Aggregate |
|  |  |  |  |  | Exercise |  |  | Contractual |  | Intrinsic |
|  | Options |  |  | Price |  |  | Term |  | Value |
Outstanding at December 31, 2020 |  |  | 4,234,020 |  |  | $ | 10.55 |  |  |  |  |  |  |
Exercised |  |  | (221,936 | ) |  | $ | 5.80 |  |  |  |  |  |  |
Forfeited |  |  | (5,895 | ) |  | $ | 6.02 |  |  |  |  |  |  |
Outstanding at March 31, 2021 |  |  | 4,006,189 |  |  | $ | 10.82 |  |  | 7.27 years |  | $ | 52,715 |
Exercisable at March 31, 2021 |  |  | 3,999,532 |  |  | $ | 10.83 |  |  | 7.27 years |  | $ | 52,594 |

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- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of employee stock purchase plans, including, but not limited to: (a) expected term, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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