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Stock-Based Compensation (Tables) | 12 Months Ended
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Dec. 31, 2021
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] |
Assumptions Used to Compute Share-Based Compensation Costs for Stock Options Granted | The assumptions used to compute the share-based compensation costs for the stock options granted during the years ended December 31, 2021 and 2020, using the Black-Scholes option pricing model, were as follows:
|  | Year Ended December 31, |
|  | 2021 |  |  | 2020 |
Weighted average grant date fair value of stock options |  | $ | 5.94 |  |  | $ | 2.93 |
Assumptions |  |  |  |  |  |  |  |
Risk-free interest rate (weighted average) |  |  | 0.87 | % |  |  | 0.44 | %
Expected dividend yield |  |  | — |  |  |  | — |
Weighted average expected life (years) |  |  | 6.2 |  |  |  | 6.2 |
Volatility (weighted average) |  |  | 74.5 | % |  |  | 80.8 | %
Forfeiture rate |  |  | 12.0 | % |  |  | 12.0 | %
Assumptions Used Estimate Fair Value of Employee Stock Purchase Plans | Following is a schedule of the shares purchased, the fair value per share, and the Black-Scholes model assumptions for each offering period:
|  | September 30, |  |  | March 31, |  |  | September 30, |  |  | March 31, |
Offering Period Ended |  | 2021 |  |  | 2021 |  |  | 2020 |  |  | 2020 |
Shares purchased for offering period |  |  | 5,360 |  |  |  | 4,668 |  |  |  | 4,184 |  |  |  | 1,536 |
Fair value per share |  | $ | 1.90 |  |  | $ | 1.25 |  |  | $ | 1.75 |  |  | $ | 2.28 |
Assumptions |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Risk-free interest rate (average) |  |  | 0.05 | % |  |  | 0.12 | % |  |  | 0.29 | % |  |  | 1.84 | %
Expected dividend yield |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Weighted average expected life (years) |  |  | 0.5 |  |  |  | 0.5 |  |  |  | 0.5 |  |  |  | 0.5 |
Volatility (average) |  |  | 44.6 | % |  |  | 47.1 | % |  |  | 86.8 | % |  |  | 86.3 | %
Non-Cash Stock-Based Compensation Expenses | Non-cash stock-based compensation expenses related to stock options, restricted stock grants and the ESPP were recorded in the financial statements as follows (in thousands):
|  | Year Ended December 31, |
|  | 2021 |  |  | 2020 |
Cost of sales |  | $ | 1 |  |  | $ | — |
Sales and marketing |  |  | 901 |  |  |  | 549 |
Research and development |  |  | 965 |  |  |  | 559 |
General and administrative |  |  | 2,981 |  |  |  | 1,956 |
Total non-cash stock compensation expense |  | $ | 4,848 |  |  | $ | 3,064 |
Summary of Outstanding Stock Options and Related Activity | A summary of the Company’s stock options outstanding under the 2015 OEIP and 2005 Plan as of December 31, 2021 and 2020 and the activity during the years ended herein are as follows (in thousands except per share amounts):
|  | Shares |  |  | Weighted Avg. Exercise Price |  |  | Wtd. Avg. Remaining Contractual Life (Yrs) |  |  | Aggregate Intrinsic Value |
Outstanding as of December 31, 2020 |  |  | 205 |  |  | $ | 3.95 |  |  |  |  |  |  |  |  |
Granted |  |  | 20 |  |  | $ | 5.94 |  |  |  |  |  |  | $ | - |
Exercised |  |  | (21 | ) |  | $ | 3.12 |  |  |  |  |  |  | $ | 55 |
Forfeited |  |  | (8 | ) |  | $ | 2.99 |  |  |  |  |  |  | $ | 20 |
Expired |  |  | (2 | ) |  | $ | 16.28 |  |  |  |  |  |  | $ | - |
Outstanding as of December 31, 2021 |  |  | 194 |  |  | $ | 3.95 |  |  |  | 4.9 |  |  | $ | 218 |
Vested and expected to vest at December 31, 2021 |  |  | 181 |  |  | $ | 4.03 |  |  |  | 4.9 |  |  | $ | 211 |
Exercisable as of December 31, 2021 |  |  | 140 |  |  | $ | 4.04 |  |  |  | 3.6 |  |  | $ | 163 |
Summary of Outstanding Restricted Stock Awards and Related Activity | A summary of the Company’s restricted stock awards outstanding under the 2015 OEIP and 2005 Plan as of December 31, 2021 and 2020, and the activity during years ended therein, are as follows (in thousands, except weighted average grant date fair value):
|  |  |  |  |  | Weighted average |
|  | Number |  |  | grant date |
|  | of shares |  |  | fair value |
Unvested at December 31, 2019 |  |  | 1,559 |  |  | $ | 1.98 |
Granted |  |  | 1,000 |  |  | $ | 6.40 |
Vested |  |  | (857 | ) |  | $ | 2.99 |
Canceled and forfeited |  |  | — |  |  | $ | - |
Unvested at December 31, 2020 |  |  | 1,702 |  |  | $ | 4.07 |
Granted |  |  | 1,287 |  |  | $ | 7.02 |
Vested |  |  | (1,027 | ) |  | $ | 4.47 |
Canceled and forfeited |  |  | (295 | ) |  | $ | 5.60 |
Unvested at December 31, 2021 |  |  | 1,667 |  |  | $ | 5.83 |

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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 stock options, including, but not limited to: (a) expected term of share options and similar instruments, (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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