XML 119 R36.htm IDEA: XBRL DOCUMENT v3.24.1.1.u2
Stockholders' Equity, Stock Plans and Stock-based Compensation Expense (Tables)
 12 Months Ended
Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]  
Schedule of Share-based Payment Arrangement
Activities under 2004 Equity Incentive Plan, 2019 Equity Incentive Plan and 2023 Inducement Equity Incentive Plan are summarized as follows:
Options Outstanding
Shares
Available
For Grant		Number of
Shares		Weighted-
Average
Exercise
Price		Weighted-Average
Remaining
Contractual Life
(in years)
Aggregate
Intrinsic
Value
(in millions ) (1)
Balances as of December 31, 20201,085,170 217,007 $22.35 3.75$1.47 
Additional shares reserved(2)
450,000 
Options granted(172,139)172,139 $30.71 
Options exercised— (71,798)$22.02 
Options cancelled (expired or forfeited)30,173 (30,173)$37.14 
Stock awards granted(744,949)— — 
Stock awards cancelled (expired or forfeited)299,092 — — 
Balances as of December 31, 2021947,347 287,175 $25.89 4.92$4.46 
Additional shares reserved(2)
600,000 
Options granted(296,238)296,238 $40.95 
Options exercised— (39,960)$21.28 
Options cancelled (expired or forfeited)29,518 (29,518)$34.91 
Stock awards granted(374,274)— — 
Stock awards cancelled (expired or forfeited)164,572 — — 
Balances as of December 31, 20221,070,925 513,935 $34.41 6.63$5.99 
Additional shares reserved(2)
3,800,000 
Options granted— 1,099,075 $13.10 
Options exercised— (42,234)$14.50 
Options cancelled (expired or forfeited)288,536 (288,536)$29.21 
Stock awards granted(2,144,988)— — 
Stock awards cancelled (expired or forfeited)540,064 — — 
Balances as of December 31, 20233,554,537 1,282,240 $17.97 8.21$— 
Exercisable as of December 31, 2023190,997 $36.39 3.36$— 
Vested and expected to vest, net of estimated forfeitures, as of December 31, 20231,180,944 $18.37 8.11$— 
(1)Based on the closing stock price of $3.53 of the Company’s stock on December 31, 2023, $44.22 on December 31, 2022, $41.32 on December 31, 2021 and $24.11 on December 31, 2020.
(2)Approved by the board of directors and stockholders in 2023, 2022 and 2021.
Schedule of Share-based Payment Arrangement Exercise Price Range The options outstanding and exercisable at December 31, 2023 were in the following exercise price ranges:
Exercise Prices
Number of Shares Outstanding
Contractual Life
(in years)
Number of Shares
Exercisable
$3.6731,256 6.85— 
$11.02735,295 9.63— 
$14.04——$18.5587,001 8.813,250 
$19.44147,455 9.15— 
$25.70——$33.45187,927 3.37121,909 
$36.55——$39.3030,881 1.2030,881 
$39.882,187 5.001,393 
$41.3921,220 8.1810,168 
$47.404,745 0.964,745 
$63.6234,273 7.1318,651 
$3.67——$63.621,282,240 8.21190,997 
Schedule of Share-based Payment Arrangement, Restricted Stock and Restricted Stock Unit
Information with respect to RSUs and PSUs activity is as follows:
Number of
Shares		Weighted-Average
Grant-
Date Fair
Value
Aggregate
Fair Value(1)
(in thousands)
Aggregate
Intrinsic Value(2)
(in thousands)
Outstanding at December 31, 2020779,757 $23.96 $18,800 
Granted744,949 $40.16 
Vested(3)
(254,946)$22.94 $8,287 
(4)
Forfeited(236,856)$27.33 
Outstanding at December 31, 20211,032,904 $35.00 $42,680 
Granted374,274 $45.36 
Vested(3)
(340,836)$29.04 $15,443 
(5)
Forfeited(160,131)$41.48 
Outstanding at December 31, 2022906,211 $40.39 $40,073 
Granted829,866 $14.43 
Vested(3)
(298,485)$35.61 $9,597 
(6)
Forfeited(527,730)$36.56 
Outstanding at December 31, 2023909,862 $20.46 $3,212 
(1)Represents the value of the Company’s stock on the date that the restricted stock units and performance stock units vest.
(2)Based on the closing stock price of the Company’s stock of $3.53 on December 31, 2023, $44.22 on December 31, 2022, $41.32 on December 31, 2021, and $24.11 on December 31, 2020.
(3)The number of restricted stock units vested includes shares that the Company withheld on behalf of the employees to satisfy the statutory tax withholding requirements.
(4)On the grant date, the fair value for these vested awards was $5.8 million.
(5)On the grant date, the fair value for these vested awards was $9.9 million.
(6)On the grant date, the fair value for these vested awards was $10.6 million.
Schedule of Share-based Payment Arrangement Cost by Plan
Stock-based compensation expense for the years ended December 31, 2023, 2022 and 2021 was as follows (in thousands):
Year Ended December 31,
202320222021
Stock options$2,227 $2,175 $782 
RSUs6,100 6,979 5,305 
PSUs(586)4,430 6,591 
ESPP323 816 494 
Total stock-based compensation expense$8,064 $14,400 $13,172 
Schedule of Share-based Compensation Expense
Total stock-based compensation expense recognized during the years ended December 31, 2023, 2022 and 2021 was recorded in the Consolidated Statements of Operations as follows (in thousands):
Year Ended December 31,
202320222021
Cost of revenue$751 $1,665 $1,408 
Sales and marketing3,387 4,998 3,160 
Research and development1,082 2,405 2,784 
General and administrative2,844 5,332 5,820 
Total stock-based compensation expense$8,064 $14,400 $13,172 
Schedule of Valuation Assumptions and Fair Value of Stock Options and ESPP Grants The weighted average estimated fair values of the employee stock options and rights granted under the employee stock purchase plan and the weighted average assumptions used to calculate the grant date fair values, are as follows:
Stock OptionsStock Purchase Plan (ESPP)
202320222021202320222021
Expected term (in years)4.174.033.970.500.490.50
Risk-free interest rate4.06 %1.99 %0.48 %4.70 %3.79 %0.14 %
Volatility67 %66 %66 %70 %69 %36 %
Dividend yield(1)
— %— %— %— %— %— %
Weighted average estimated fair value at grant date$7.04 $19.76 $15.09 $14.83 $15.77 $9.64 
(1)The Company has not paid dividends since its inception.