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Stock-based Compensation (Tables)
 6 Months Ended
Jun. 30, 2022
Share-Based Payment Arrangement [Abstract]  
Weighted Average Assumptions Utilized

The weighted-average assumptions utilized to determine the weighted-average fair value of options are presented in the following table:

 

 

 

Six Months Ended June 30,

 

 

 

2022

 

 

2021

 

 

 

 

 

 

 

 

Weighted-average fair value of options granted during the period

 

$

—

 

 

$

7.72

 

Risk-free interest rate

 

 

—

 

 

 

1.16

%

Expected volatility

 

 

—

 

 

 

48

%

Expected life (in years)

 

 

—

 

 

 

6.2

 

Expected dividend yield

 

 

—

 

 

 

—

 
Summary of Stock-based Compensation Expense The following table summarizes stock-based compensation expense as included in the consolidated statement of operations for the three and six months ended June 30, 2022 and 2021:

 

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2022

 

 

2021

 

 

2022

 

 

2021

 

 

 

(in thousands)

 

 

 

 

 

 

 

Stock-based compensation:

 

 

 

 

 

 

 

 

 

 

 

 

Cost of subscription and support revenue

 

$

144

 

 

$

187

 

 

$

253

 

 

$

344

 

Cost of professional services and other revenue

 

 

139

 

 

 

118

 

 

 

258

 

 

 

186

 

Research and development

 

 

935

 

 

 

531

 

 

 

1,657

 

 

 

853

 

Sales and marketing

 

 

899

 

 

 

762

 

 

 

1,842

 

 

 

1,499

 

General and administrative

 

 

1,527

 

 

 

1,011

 

 

 

2,864

 

 

 

2,019

 

Other expense (benefit)

 

 

-

 

 

 

—

 

 

 

249

 

 

 

0

 

 

 

$

3,644

 

 

$

2,609

 

 

$

7,123

 

 

$

4,901

 
Summary of Stock Option Activity

The following is a summary of the stock option activity during the six months ended June 30, 2022.

 

 

 

Number of
Shares

 

 

Weighted-Average
Exercise Price

 

 

Weighted-Average
Remaining
Contractual
Term (In Years)

 

 

Aggregate
Intrinsic
Value (1)

 

Outstanding at December 31, 2021

 

 

1,681,477

 

 

$

9.59

 

 

 

 

 

 

 

Granted

 

 

—

 

 

 

—

 

 

 

 

 

 

 

Exercised

 

 

(15,900

)

 

 

6.31

 

 

 

 

 

$

33,483

 

Canceled

 

 

(117,286

)

 

 

12.11

 

 

 

 

 

 

 

Outstanding at June 30, 2022

 

 

1,548,291

 

 

$

9.42

 

 

 

5.28

 

 

$

82,101

 

Exercisable at June 30, 2022

 

 

1,350,807

 

 

$

9.08

 

 

 

4.90

 

 

$

81,296

 

 

(1)
The aggregate intrinsic value was calculated based on the positive difference between the fair value of the Company’s common stock on June 30, 2022 of $6.32 per share, or the date of exercise, as appropriate, and the exercise price of the underlying options.
Restricted Stock Units Activity

The following table summarizes the restricted stock unit activity for our service-based awards (“S-RSU”) and our performance-based awards (“P-RSU”) during the six months ended June 30, 2022:

 

 

 

S-RSU Shares

 

 

Weighted
Average Grant
Date Fair Value

 

 

P-RSU Shares

 

 

Weighted
Average Grant
Date Fair Value

 

 

Total RSU Shares

 

 

Weighted
Average Grant
Date Fair Value

 

Unvested at December 31, 2021

 

 

2,915,720

 

 

$

11.66

 

 

 

1,021,172

 

 

$

11.04

 

 

 

3,936,892

 

 

$

11.50

 

Granted

 

 

2,755,385

 

 

 

7.31

 

 

 

500,000

 

 

 

8.11

 

 

 

3,255,385

 

 

 

7.43

 

Vested and issued

 

 

(416,525

)

 

 

12.18

 

 

 

—

 

 

 

—

 

 

 

(416,525

)

 

 

12.18

 

Canceled

 

 

(599,184

)

 

 

10.37

 

 

 

(284,298

)

 

 

12.80

 

 

 

(883,482

)

 

 

11.15

 

Unvested at June 30, 2022

 

 

4,655,396

 

 

$

9.21

 

 

 

1,236,874

 

 

$

9.46

 

 

 

5,892,270

 

 

$

9.26