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Stock Based Compensation | 6 Months Ended
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Jun. 30, 2021
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] |
Stock Based Compensation | Note 14. Stock Based Compensation Stock-based compensation expense Stock-based compensation is recorded in the consolidated statements of operations as follows (in thousands):
|  | Three months ended June 30, |  |  | Six months ended June 30, |
|  | 2021 |  |  | 2020 |  |  | 2021 |  |  | 2020 |
Cost of goods sold |  | $ | 1 |  |  | $ | — |  |  | $ | 2 |  |  | $ | — |
Research and development |  |  | 176 |  |  |  | 149 |  |  |  | 380 |  |  |  | 301 |
Sales and marketing |  |  | 213 |  |  |  | 100 |  |  |  | 428 |  |  |  | 190 |
General and administrative |  |  | 618 |  |  |  | 405 |  |  |  | 1,126 |  |  |  | 831 |
Total stock-based compensation expense |  | $ | 1,008 |  |  | $ | 654 |  |  | $ | 1,936 |  |  | $ | 1,322 |
Stock Options The following table summarizes the outstanding stock option activity during the period indicated (shares in thousands):
|  |  |  |  | Weighted average |
|  | Number of stock options |  |  | Exercise price |  |  | Remaining contractual term (in years) |
Balance at December 31, 2020 |  |  | 1,760 |  |  | $ | 10.07 |  |  |  | 7.6 |
Granted |  |  | 456 |  |  |  | 23.20 |  |  |  |
Exercised |  |  | (218 | ) |  |  | 11.14 |  |  |  |
Expired/Forfeited |  |  | (79 | ) |  |  | 13.83 |  |  |  |
Balance at June 30, 2021 |  |  | 1,919 |  |  |  | 12.91 |  |  |  | 7.7 |
Vested and exercisable at June 30, 2021 |  |  | 1,022 |  |  |  | 9.37 |  |  |  | 6.7 |
Vested and expected to vest at June 30, 2021 |  |  | 1,919 |  |  |  | 12.91 |  |  |  | 7.7 |
The weighted average grant date fair value of options granted during the six months ended June 30, 2021 and for the year ended December 31, 2020, was $10.97 and $4.30, respectively. For fully vested stock options, the aggregate intrinsic value as of June 30, 2021 and December 31, 2020 was $11.5 million and $8.2 million, respectively. For stock options expected to vest, the aggregate intrinsic value as of June 30, 2021, and December 31, 2020, was $4.6 million and $5.3 million, respectively. At June 30, 2021, there was $6.2 million of unrecognized compensation cost related to unvested stock options granted under the Company’s equity plans that is expected to be recognized over the next 2.7 years. Restricted Stock The following table summarizes the Company's restricted stock unit activity during the period indicated (shares in thousands):
|  | Restricted stock units |  |  | Weighted average grant date fair value |
Balance at December 31, 2020 |  |  | 202 |  |  | $ | 10.51 |
Grants |  |  | 170 |  |  |  | 23.97 |
Vested and released |  |  | (61 | ) |  |  | 10.43 |
Forfeited |  |  | (54 | ) |  |  | 13.51 |
Balance at June 30, 2021 |  |  | 257 |  |  |  | 18.81 |
As of June 30, 2021, there was $4.2 million of total unrecognized compensation cost related to unvested restricted stock units having a weighted average remaining contractual term of 3.1 years. Employee Stock Purchase Plan (ESPP) The Company maintains the 2016 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.

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- 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
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