XML 33 R21.htm IDEA: XBRL DOCUMENT
v3.21.1

Stock Based Compensation | 3 Months Ended
--- | ---
Mar. 31, 2021
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] |
Stock Based Compensation | Note 14. Stock Based Compensation Stock Options The following table summarizes the outstanding stock option activity during the period indicated (shares in thousands):
|  |  |  |  | Weighted average |
|  | Number of shares |  |  | Exercise price |  |  | Remaining contractual term (years) |
Balance at December 31, 2020 |  |  | 1,760 |  |  | $ | 10.07 |  |  |  |
Granted |  |  | 431 |  |  |  | 23.35 |  |  |  |
Exercised |  |  | (144 | ) |  |  | 11.45 |  |  |  |
Expired/Forfeited |  |  | (11 | ) |  |  | 11.94 |  |  |  |
Balance at March 31, 2021 |  |  | 2,036 |  |  |  | 12.77 |  |  |  | 7.8 |
Vested and exercisable at March 31, 2021 |  |  | 1,028 |  |  |  | 9.35 |  |  |  | 6.8 |
Vested and expected to vest at March 31, 2021 |  |  | 2,036 |  |  |  | 12.77 |  |  |  | 7.8 |
The weighted average grant date fair value of options granted during the three months ended March 31, 2021 and for the year ended December 31, 2020, was $11.23 and $4.30, respectively. For fully vested stock options, the aggregate intrinsic value as of March 31, 2021 and December 31, 2020 was $12.2 million and $8.2 million, respectively. For stock options expected to vest, the aggregate intrinsic value as of March 31, 2021, and December 31, 2020, was $6.2 million and $5.3 million, respectively. At March 31, 2021 and December 31, 2020, there was $7.0 million and $3.0 million, respectively, of total unrecognized compensation cost related to unvested stock options granted under the Company’s equity plans. That cost is expected to be recognized over the next 2.8 years. Restricted Stock The following table summarizes the Company's Restricted Stock Unit (RSU) activity during the period indicated (shares in thousands):
|  | Restricted stock units |  |  | Weighted average grant date fair value |
Non-vested balance at December 31, 2020 |  |  | 202 |  |  | $ | 10.51 |
Grants |  |  | 158 |  |  |  | 24.23 |
Vested and released |  |  | (61 | ) |  |  | 10.43 |
Non-vested balance at March 31, 2021 |  |  | 299 |  |  |  | 17.75 |
As of March 31, 2021 and December 31, 2020 there was $5.0 million and $1.5 million, respectively, of total unrecognized compensation cost related to unvested RSUs having a weighted average remaining contractual term of 3.2 years. Employee Stock Purchase Plan (ESPP) The Company maintains the Employee Stock Purchase Plan (ESPP) that provides employees an opportunity to purchase common stock through payroll deductions. The ESPP is implemented through consecutive 6-month offering periods commencing on March 1 and September 1 of each year. The first offering period under the ESPP commenced on March 1, 2019. The purchase price is set at 85% of the fair market value of the Company's common stock on either the first or last trading day of the offering period, whichever is lower. Annual contributions are limited to the lower of 20% of an employee's eligible compensation or such other limits as apply under Section 423 of the Internal Revenue Code. The ESPP is intended to qualify as an employee stock purchase plan for purposes of Section 423 of the Internal Revenue Code. Based on the 15% discount and the fair value of the option feature of the ESPP, it is considered compensatory. Compensation expense is calculated using the fair value of the employees’ purchase rights under the Black-Scholes model. The Company currently uses authorized and unissued shares to satisfy share award exercises. Under the ESPP the Company received proceeds of $0.1 million from the issuances of approximately 10,000 shares in February 2021. Stock-based compensation expense Stock based compensation expense was $0.9 million and $0.7 million for the three months ended March 31, 2021 and 2020, respectively. The stock-based compensation is recorded in the consolidated statements of operations as follows (in thousands):
|  | Three months ended March 31, |
|  | 2021 |  |  | 2020 |
Cost of goods sold |  | $ | 1 |  |  | $ | — |
Research and Development |  |  | 204 |  |  |  | 152 |
Sales and marketing |  |  | 215 |  |  |  | 90 |
General and administrative |  |  | 508 |  |  |  | 426 |
Total stock-based compensation expense |  | $ | 928 |  |  | $ | 668 |

X
- Definition The entire disclosure for share-based payment arrangement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -URI http://asc.fasb.org/topic&trid=2228938 + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration