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Equity Incentive Plans (Tables)
12 Months Ended
Dec. 31, 2021
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]  
Schedule of Fair Value of Stock Option Grants Valuation Assumptions by Block-Scholes Option Pricing Model

The fair value of stock option grants is set forth below and was determined using the Black-Scholes option pricing model with the following assumptions:

 

 

 

Year Ended December 31,

 

 

2021

 

2020

 

2019

Fair value of common stock

 

$31.12-$48.05

 

$23.49-$34.07

 

$20.07-$44.95

Expected term (in years)

 

6

 

6

 

6

Risk-free interest rate

 

0.45%-1.62%

 

0.36%-0.83%

 

1.71%-2.49%

Expected volatility

 

65%-67%

 

64%-68%

 

64%-67%

Expected dividend yield

 

 

 

Schedule of Stock Option Activity

A summary of stock option activities during 2021, 2020 and 2019 is as follows:

 

 

 

Number
of Options
Outstanding

 

 

Weighted
Average
Exercise
Price

 

 

Weighted
Average
Grant Date Fair Value per Option

 

 

Aggregate Intrinsic Value Exercised (in thousands)

 

Outstanding at December 31, 2018

 

 

820,186

 

 

$

8.44

 

 

 

 

 

 

 

Granted

 

 

138,200

 

 

$

35.76

 

 

$

21.86

 

 

 

 

Exercised

 

 

(307,365

)

 

$

1.47

 

 

 

 

 

$

12,117

 

Canceled

 

 

(33,528

)

 

$

24.80

 

 

 

 

 

 

 

Outstanding at December 31, 2019

 

 

617,493

 

 

$

17.13

 

 

 

 

 

 

 

Granted

 

 

347,095

 

 

$

32.14

 

 

$

19.15

 

 

 

 

Exercised

 

 

(96,456

)

 

$

3.25

 

 

 

 

 

$

2,257

 

Canceled

 

 

(54,890

)

 

$

26.07

 

 

 

 

 

 

 

Outstanding at December 31, 2020

 

 

813,242

 

 

$

24.58

 

 

 

 

 

 

 

Granted

 

 

111,489

 

 

$

39.00

 

 

$

23.32

 

 

 

 

Exercised

 

 

(97,702

)

 

$

9.20

 

 

 

 

 

$

3,064

 

Canceled

 

 

(43,101

)

 

$

35.84

 

 

 

 

 

 

 

Outstanding at December 31, 2021

 

 

783,928

 

 

$

28.00

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Schedule of Additional Information for Stock Options

Additional information for stock options at December 31, 2021 were as follows:

 

 

Number
of Options

 

 

Weighted
Average
Exercise
Price

 

 

Aggregate Intrinsic Value (in thousands)

 

 

Weighted
Average
Remaining Contractual term (in years)

 

Outstanding at December 31, 2021

 

783,928

 

 

 

28.00

 

 

$

4,524

 

 

 

7.30

 

Exercisable at December 31, 2021

 

453,000

 

 

 

23.17

 

 

$

4,362

 

 

 

6.37

 

Schedule of Unvested Restricted Stock Units Awards Activity

The following table summarizes the activity of RSU awards:

 

 

 

Number
of RSUs

 

 

Weighted
Average
Grant Date Fair Value per RSU

 

 

Aggregate Fair Value of RSUs Vested (in thousands)

 

Unvested RSUs at December 31, 2018

 

 

110,764

 

 

$

19.58

 

 

 

 

Granted

 

 

62,382

 

 

$

44.05

 

 

 

 

Vested

 

 

(58,150

)

 

$

24.75

 

 

$

2,610

 

Unvested RSUs at December 31, 2019

 

 

114,996

 

 

$

30.24

 

 

 

 

Granted

 

 

91,759

 

 

$

31.75

 

 

 

 

Vested

 

 

(54,970

)

 

$

32.12

 

 

$

1,766

 

Forfeited

 

 

(10,277

)

 

$

41.50

 

 

 

 

Unvested RSUs at December 31, 2020

 

 

141,508

 

 

$

29.67

 

 

 

 

Granted

 

 

84,035

 

 

$

37.86

 

 

 

 

Vested

 

 

(80,972

)

 

$

29.22

 

 

$

3,078

 

Forfeited

 

 

(15,761

)

 

$

31.38

 

 

 

 

Unvested RSUs at December 31, 2021

 

 

128,810

 

 

$

35.09

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Schedule of Stock-Based Compensation Expense Recorded in Consolidated Statements of Operations

Total stock-based compensation expense is recorded in the consolidated statements of operations and was allocated as follows (in thousands):

 

 

Year Ended December 31,

 

 

2021

 

 

2020

 

 

2019

 

Cost of revenues

$

1,567

 

 

$

1,093

 

 

$

670

 

Sales and marketing

 

1,612

 

 

 

1,268

 

 

 

955

 

Research and development

 

734

 

 

 

580

 

 

 

365

 

General and administrative

 

1,959

 

 

 

1,521

 

 

 

1,067

 

Total

$

5,872

 

 

$

4,462

 

 

$

3,057

 

2017 Equity Incentive Plan  
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]  
Schedule of Activity of Shares Available for Grant

The following table summarizes the activity of shares available for grant under the 2017 Equity Incentive Plan:

 

Shares available for grant at December 31, 2020

 

 

1,814,379

 

Increase in accordance with the evergreen provision

 

 

 

Options issued during the year

 

 

(111,489

)

Canceled during the year

 

 

43,101

 

RSUs granted

 

 

(84,035

)

Shares available for grant at December 31, 2021

 

 

1,661,956

 

 

 

 

 

2017 Employee Stock Purchase Plan  
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]  
Schedule of Activity of Shares Available for Grant

The following table summarizes the activity of shares available under the 2017 ESPP:

 

Shares available for grant at December 31, 2020

 

 

429,521

 

Increase in accordance with the evergreen provision

 

 

 

Issued during the year

 

 

(30,193

)

Shares available for grant at December 31, 2021

 

 

399,328