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Stock-based Compensation (Tables) | 9 Months Ended | 12 Months Ended
--- | --- | ---
Sep. 30, 2020 | Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] |  |
Summary of fair value of each option grant estimated using black-scholes option-pricing model | The fair value of stock option awards was determined on the grant date using the Black-Scholes valuation model based on the following assumptions:
|  | 9/30/2020 |  |  | 12/31/2019 |
Expected term (years) (1) |  |  | 5.96 — 6.02 |  |  |  | 5.27 — 6.02 |
Common stock (price per share) |  | $ | 22.80 —$ 76.93 |  |  | $ | 17.38 —$ 22.80 |
Expected volatility (2) |  |  | 49.3% — 51.9% |  |  |  | 44.6% — 49.3% |
Risk-free interest rate (3) |  |  | 0.4% — 1.8% |  |  |  | 1.6% — 1.9% |
Dividend yield (4) |  |  | 0% |  |  |  | 0% |
(1) | The expected term is the length of time the grant is expected to be outstanding before it is exercised or terminated. This number is calculated as the midpoint between the vesting term and the original contractual term (contractual period to exercise). If the option contains graded vesting, then the vesting term would be based on the vesting pattern.
(2) | Volatility, or the standard deviation of annualized returns, was calculated based on comparable companies’ report volatilities.
(3) | Risk free rate was obtained from US treasury notes for the expected terms noted as of the valuation date.
(4) | The Company has assumed a dividend yield of zero as they have no plans to declare dividends in the foreseeable future.
| The fair value of stock option awards in 2019 was determined on the grant date using the Black-Scholes valuation model based on the following assumptions:
|  | 2019 |
Expected term (years) (1) |  |  | 5.27 – 6.02 |
Current stock value |  | $ | 17.38 – 22.80 |
Expected volatility (2) |  |  | 44.6% – 49.3% |
Risk-free interest rate (3) |  |  | 1.6% – 1.9% |
Dividend yield (4) |  |  | 0% |
(1) | The expected term is the length of time the grant is expected to be outstanding before it is exercised or terminated. This number is calculated as the midpoint between the vesting term and the original contractual term (contractual period to exercise). If the option contains graded vesting, then the vesting term would be based on the vesting pattern.
(2) | Volatility, or the standard deviation of annualized returns, was calculated based on comparable companies’ reported volatilities.
(3) | Risk free rate was obtained from US treasury notes for the expected terms noted as of the valuation date.
(4) | The Company has assumed a dividend yield of zero as it has no plans to declare dividends in the foreseeable future.
Summary of stock options | A summary of the Company’s stock option activity for nine months ended September 30, 2020 is as follows:
|  | Number of Common Stock options |  |  | Weighted- Average Exercise Price |  |  | Weighted- Average Remaining Contractual Life (Years) |  |  | Aggregate Intrinsic Value (In Thousands) |
Outstanding as of December 31, 2019 |  |  | 365,938 |  |  | $ | 22.73 |  |  |  | 9.76 |  |  | $ | 22 |
Granted |  |  | 921,721 |  |  |  | 22.73 |  |  |  | — |  |  |  | — |
Exercised |  |  | — |  |  |  |  |  |  |  | — |  |  |  | — |
Forfeited |  |  | (87,685 | ) |  |  | 22.73 |  |  |  | — |  |  |  | — |
Expired |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Outstanding as of September 30, 2020 |  |  | 1,199,974 |  |  | $ | 22.73 |  |  |  | 9.32 |  |  | $ | 141,657 |
Vested and exercisable as of September 30, 2020 |  |  | 59,538 |  |  | $ | 22.73 |  |  |  | 9.06 |  |  | $ | 7,028 |
Vested and expected to vest as of September 30, 2020 |  |  | 1,199,974 |  |  | $ | 22.73 |  |  |  | 9.32 |  |  | $ | 141,657 |
| A summary of the Company’s stock option activity for years ended 2019 and 2018 is as follows:
|  | Number of Common Stock Options |  |  | Weighted- Average Exercise Price |  |  | Weighted- Average Remaining Contractual Life (Years) |  |  | Aggregate Intrinsic Value (In Thousands) |
Outstanding as of January 1, 2019 |  |  | — |  |  | $ | — |  |  |  | — |  |  | $ | — |
Granted |  |  | 366,988 |  |  |  | 22.73 |  |  |  | 9.76 |  |  |  |  |
Exercised |  |  | — |  |  |  | — |  |  |  | — |  |  |  |  |
Forfeited |  |  | (1,050 | ) |  |  | 22.73 |  |  |  | 9.61 |  |  |  |  |
Expired |  |  | — |  |  |  | — |  |  |  | — |  |  |  |  |
Outstanding as of December 31, 2019 |  |  | 365,938 |  |  |  | 22.73 |  |  |  | 9.76 |  |  |  | 22 |
Vested and exercisable as of December 31, 2019 |  |  | 26,035 |  |  |  | 22.73 |  |  |  | 9.75 |  |  |  | 2 |
Vested and expected to vest as of December 31, 2019 |  |  | 365,938 |  |  | $ | 22.73 |  |  |  | 9.76 |  |  | $ | 22 |
Summary of non-employee restricted stock activity | Non-employee restricted stock activity for the nine months ended September 30, 2020 is as follows:
|  | Shares |  |  | Weighted Average Grant Date Fair Value per Share |
Outstanding as of December 31, 2019 |  |  | 1,999 |  |  | $ | 17.61 |
Granted |  |  | — |  |  |  | — |
Exercised |  |  | — |  |  |  | — |
Forfeited |  |  | — |  |  |  | — |
Vested |  |  | (1,375 | ) |  |  | 17.61 |
Outstanding as of September 30, 2020 |  |  | 624 |  |  | $ | 17.61 |
| Non-employee restricted stock activity for years ended 2019 and 2018 is as follows:
|  | Shares |  |  | Weighted Average Grant Date Fair Value per Share |
Outstanding as of December 31, 2017 |  |  | 37,989 |  |  | $ | 0.05 |
Granted |  |  | 2,800 |  |  |  | 13.75 |
Forfeited |  |  | (625 | ) |  |  | 0.05 |
Vested |  |  | (22,946 | ) |  |  | 0.64 |
Outstanding as of December 31, 2018 |  |  | 17,218 |  |  |  | 1.46 |
Granted |  |  | — |  |  |  | — |
Forfeited |  |  | — |  |  |  | — |
Vested |  |  | (15,219 | ) |  |  | 17.61 |
Outstanding as of December 31, 2019 |  |  | 1,999 |  |  | $ | 17.61 |
Summary of stock-based compensation expense by function | Total stock-based compensation expense by function was as follows (in thousands):
|  | Nine Months ended September 30, |
|  | 2020 |  |  | 2019 |
Cost of sales |  | $ | 237 |  |  | $ | 69 |
Research and development |  |  | 1,608 |  |  |  | 616 |
Sales and marketing |  |  | 334 |  |  |  | 107 |
General and administrative |  |  | 2,531 |  |  |  | 1,064 |
Total |  | $ | 4,710 |  |  | $ | 1,856 |
| Total stock-based compensation expense by function was as follows (in thousands):
|  | Year Ended December 31, |
|  | 2019 |  |  | 2018 |
Cost of sales |  | $ | 92 |  |  | $ | 66 |
Research and development |  |  | 914 |  |  |  | 564 |
Sales and marketing |  |  | 163 |  |  |  | 83 |
General and administrative |  |  | 1,533 |  |  |  | 1,349 |
Total |  | $ | 2,702 |  |  | $ | 2,062 |
Restricted Stock [Member] |  |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] |  |
Summary of stock options | Employee restricted stock activity for the nine months ended September 30, 2020 is as follows:
|  | Shares |  |  | Weighted Average Grant Date Fair Value per Share |
Outstanding as of December 31, 2019 |  |  | 458,257 |  |  | $ | 10.92 |
Granted |  |  | — |  |  |  | — |
Forfeited |  |  | (113,776 | ) |  |  | 11.37 |
Vested |  |  | (183,556 | ) |  |  | 10.45 |
Outstanding as of September 30, 2020 |  |  | 160,925 |  |  | $ | 13.88 |
| Employee restricted stock activity for years ended 2019 and 2018 is as follows:
|  | Shares |  |  | Weighted Average Grant Date Fair Value per Share |
Outstanding as of December 31, 2017 |  |  | 3,534,436 |  |  | $ | 0.36 |
Granted |  |  | 509,379 |  |  |  | 12.39 |
Forfeited |  |  | (89,047 | ) |  |  | 2.50 |
Vested |  |  | (2,278,495 | ) |  |  | 0.78 |
Outstanding as of December 31, 2018 |  |  | 1,676,273 |  |  |  | 3.01 |
Granted |  |  | 150,800 |  |  |  | 17.54 |
Forfeited |  |  | (97,150 | ) |  |  | 7.19 |
Vested |  |  | (1,271,666 | ) |  |  | 1.97 |
Outstanding as of December 31, 2019 |  |  | 458,257 |  |  | $ | 10.92 |

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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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