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Employee Benefit Plans and Stock-based Compensation (Tables)
12 Months Ended
Dec. 31, 2022
Employee Benefit Plans and Stock-based Compensation  
Summary of stock option activity

The following table summarizes the stock option transactions for each of the years ended December 31, 2020, 2021 and 2022 (in thousands, except per share data):

Weighted-

    

    

    

average

    

 

Weighted-

Remaining

 

Number of

average

Contractual

Aggregate

 

Options

Exercise

Life

Intrinsic

 

Stock Options

    

Outstanding

    

Price

    

(in years)

    

Value

 

 

Balance as of January 1, 2020

 

2,953

$

4.00

 

5.95

$

3,040

Granted

 

 

Exercised

 

(905)

 

2.80

Canceled and expired

 

(163)

 

5.85

Balance as of December 31, 2020

 

1,885

$

4.42

 

6.17

$

9,713

Granted

 

 

Exercised

 

(507)

 

3.30

Canceled and expired

 

 

Balance as of December 31, 2021

1,378

$

4.83

 

5.60

$

5,573

Granted

 

 

Exercised

 

(172)

3.02

Canceled and expired

 

Balance as of December 31, 2022

 

1,206

$

5.09

 

5.08

$

630

Options vested as of December 31, 2022 and unvested options expected to vest, net of forfeitures

 

1,206

$

5.09

 

5.08

$

629

Options exercisable as of December 31, 2022

 

1,083

$

5.32

 

4.87

$

467

Summary of options outstanding and exercisable by exercise price ranges

The options outstanding and exercisable as of December 31, 2022 were in the following exercise price ranges (in thousands, except per share data):

Options Vested and

 

Options Outstanding as of

Exercisable as of

 

December 31, 2022

December 31, 2022

 

    

    

Weightedaverage

    

    

 

Range of

Weightedaverage

    

Remaining

WeightedAverage

 

Exercise Price

Shares

Exercise Price

    

Contractual Life

Shares

Exercise Price

 

$

2.14

-

$

2.14

8

$

2.14

 

1.33

 

8

$

2.14

$

2.18

-

$

2.18

56

$

2.18

 

2.83

 

56

$

2.18

$

2.36

-

$

2.36

1

$

2.36

 

0.84

 

1

$

2.36

$

2.47

-

$

2.47

17

$

2.47

 

1.84

 

17

$

2.47

$

2.56

-

$

2.56

11

$

2.56

 

3.01

 

11

$

2.56

$

3.06

-

$

3.06

329

$

3.06

 

6.85

 

206

$

3.06

$

5.21

-

$

5.21

355

$

5.21

 

3.82

 

355

$

5.21

$

5.77

-

$

5.77

245

$

5.77

 

5.85

 

245

$

5.77

$

7.95

-

$

7.95

60

$

7.95

 

4.08

 

60

$

7.95

$

9.50

-

$

9.50

124

$

9.50

 

4.82

 

124

$

9.50

1,206

$

5.09

 

5.08

 

1,083

$

5.32

Summary of restricted stock awards activity

A summary of activity related to restricted stock awards for the years ended December 31, 2020, 2021 and 2022 is presented below (in thousands, except per share data):

    

    

Weighted-Average

 

Grant Date

 

Stock Awards

    

Shares

    

Share Value

 

Non-vested as of January 1, 2020

 

939

$

5.02

Granted

 

443

$

5.94

Vested

 

(347)

$

5.44

Forfeited

 

(13)

$

5.54

Non-vested as of December 31, 2020

 

1,022

$

5.27

Granted

 

274

$

9.07

Vested

 

(407)

$

5.70

Forfeited

 

(14)

$

5.38

Non-vested as of December 31, 2021

875

$

6.26

Granted

 

513

$

4.67

Vested

 

(387)

$

6.01

Forfeited

(17)

$

5.34

Non-vested as of December 31, 2022

 

984

$

5.55

Summary of unvested at-risk performance shares

A summary of the status of our unvested at-risk, performance shares as of December 31, 2022 is presented below (in thousands, except per share data):

    

    

Weighted-Average

Grant Date

Stock Awards

    

Shares

    

Share Value

Non-vested as of January 1, 2021

 

$

Granted

 

152

*

$

15.37

Vested

 

(38)

$

15.37

Forfeited

 

$

Non-vested as of December 31, 2021

114

$

15.37

Granted

 

74

$

7.83

Vested

 

(76)

$

15.37

Forfeited

(74)

$

7.83

Non-vested as of December 31, 2022

 

38

$

15.37

*The number of share presented is based on achieving 150% of the targeted financial performance metric as defined in the at-risk, performance shares agreement.

Summary of common stock reserved for future issuance

The following number of shares of common stock were reserved and available for future issuance as of December 31, 2022 (in thousands, except per share data):

Options outstanding

    

1,206

Restricted stock awards outstanding

 

1,022

Stock available for future grant: 2015 Equity Incentive Plan

 

2,800

Total

 

5,028

Summary of compensation costs related to stock-based awards

Year Ended

December 31, 

    

2022

    

2021

2020

 

Cost of revenue

$

379

$

368

$

116

Selling, general and administrative

 

2,947

 

3,514

 

2,000

Research and development

 

680

 

637

 

507

Net effect on net income

$

4,006

$

4,519

$

2,623

Shares used in computing basic net income per share

 

42,104

 

41,367

 

40,152

Shares used in computing diluted net income per share

 

42,715

 

42,720

 

41,025

Effect on basic net income per share

$

0.10

$

0.11

$

0.07

Effect on diluted net income per share

$

0.09

$

0.11

$

0.06