Stockholders' Equity and Stock-based Compensation Expense

3 Months Ended

Mar. 31, 2023

Share-Based Payment Arrangement [Abstract]

Stockholders' Equity and Stock-based Compensation Expense

Stockholders’ Equity and Stock-based Compensation Expense

The Company’s equity incentive plans are broad-based, long-term programs intended to attract and retain talented employees and align stockholder and employee interests. The 2019 Equity Incentive Plan (the "2019 Plan") provides for the grant of incentive stock options, non-statutory stock options, restricted stock units (“RSUs”), performance stock units ("PSUs"), and other stock or cash awards.

Activity under the Company's equity incentive plans is summarized as follows:

	Shares Available for Grant
Balance, December 31, 2022	1,070,925
RSUs granted	(36,541)
Stock awards canceled / forfeited / expired	206,087
Options canceled / forfeited / expired	4,835
Balance, March 31, 2023	1,245,306

	Options Outstanding
	Number of Stock Options Outstanding	Weighted- Average Exercise Price		Weighted Average Remaining Term  (in Years)
Balance, December 31, 2022	513,935	$	34.41	6.63
Options exercised	(5,775)	$	18.93
Options canceled / forfeited / expired	(4,835)	$	46.99
Balance, March 31, 2023	503,325	$	34.47	5.29

	Stock Awards Outstanding
	Number of Awards Outstanding		Weighted Average Grant Date Fair Value per Share
Balance, December 31, 2022	$	906,211	$	40.39
RSUs granted	36,541		$	31.14
Awards released	(168,525)		$	30.78
Stock awards canceled / forfeited / expired	(206,268)		$	46.17
Balance, March 31, 2023	567,959		$	40.54

Stock-based Compensation Expense

Stock-based compensation expense by department recognized during the three months ended March 31, 2023 and 2022 was as follows (in thousands):

	Three Months Ended March 31,
	2023		2022
Cost of revenue	$	364	$	459
Sales and marketing	1,148		576
Research and development	693		980
General and administrative	1,181		2,028
Total stock-based compensation expense	$	3,386	$	4,043