XML 43 R26.htm IDEA: XBRL DOCUMENT v3.22.1
Stock Based Compensation (Tables)
12 Months Ended
Dec. 31, 2021
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Schedule of Stock-Based Compensation Expense

The following tables present the Company's stock-based compensation for equity-settled awards by type and financial statement lines included in the accompanying consolidated statement of operations and comprehensive loss for the years ended December 31:

 

 

 

2021

 

 

2020

 

 

 

(in thousands)

 

Options

 

$

2,258

 

 

$

1,644

 

RSUs

 

114

 

 

 

-

 

Total stock-based compensation expense

 

$

2,372

 

 

$

1,644

 

 

 

 

 

 

 

 

 

 

2021

 

 

2020

 

 

 

(in thousands)

 

Cost of sales

 

$

230

 

 

$

164

 

Selling, general and administrative

 

 

1,574

 

 

 

1,038

 

Research and development

 

568

 

 

442

 

Total stock-based compensation expense

 

$

2,372

 

 

$

1,644

 

Schedule of Unamortized Compensation Cost and Weighted Average Service Period of Unvested Outstanding Awards The following table presents the unamortized compensation cost and weighted average service period of all unvested outstanding awards as of December 31, 2021.

 

 

 

Unamortized Compensation Costs

 

 

Weighted Average Service Period

 

 

(in thousands)

 

 

(years)

Options

 

$

9,575

 

 

3.2

RSUs

 

 

2,672

 

 

3.8

Total unamortized compensation cost

 

$

12,247

 

 

 

Summary of Stock Option Activity under Incentive Plans

The following table summarizes stock option activity under the Company's incentive plans:

 

 

 

Number
of Shares

 

 

Weighted
Average
Exercise Price Per
Share

 

 

Weighted- Average Remaining Contractual Life

 

Aggregate Intrinsic Value

 

 

 

 

 

 

 

 

 

(in years)

 

(in thousands)

 

Options outstanding, December 31, 2019

 

 

1,861,712

 

 

$

3.98

 

 

 

 

 

 

Granted

 

 

907,997

 

 

$

7.01

 

 

 

 

 

 

Exercised

 

 

(11,104

)

 

$

3.82

 

 

 

 

$

35

 

Forfeited

 

 

(511,469

)

 

$

4.29

 

 

 

 

 

 

Options outstanding, December 31, 2020

 

 

2,247,136

 

 

$

5.13

 

 

 

 

 

 

Granted

 

 

1,130,249

 

 

$

11.98

 

 

 

 

 

 

Forfeited

 

 

(175,030

)

 

$

6.44

 

 

 

 

 

 

Exercised

 

 

(79,076

)

 

$

3.39

 

 

 

 

$

669

 

Expired

 

 

(3,286

)

 

$

0.73

 

 

 

 

 

 

Options outstanding, December 31, 2021

 

 

3,119,993

 

 

$

7.59

 

 

7.6

 

$

2,325

 

Options vested and exercisable, December 31, 2021

 

 

1,487,143

 

 

$

4.65

 

 

5.8

 

$

2,229

 

Vested and expected to vest after December 31, 2021

 

 

2,918,841

 

 

$

7.40

 

 

7.5

 

$

2,311

 

 

Summary of Non Vested Stock Options

The following table summarizes the non-vested stock options as of December 31, 2021 and 2020:

 

 

 

Number of Shares

 

 

Weighted
Average
Grant Date Fair Value

 

Non-vested Options, December 31, 2020

 

 

1,112,206

 

 

$

4.21

 

Non-vested Options, December 31, 2021

 

 

1,632,852

 

 

$

7.09

 

Summary of RSU Activity under Incentive Plans

The following table summarizes RSU activity under the Company's incentive plans:

 

 

 

Number
of Shares

 

 

Weighted
Average
Grant Date Fair Value

 

RSUs outstanding, December 31, 2020

 

 

 

 

$

 

Granted

 

 

338,149

 

 

$

9.37

 

RSUs outstanding, December 31, 2021

 

 

338,149

 

 

$

9.37

 

Summary of Assumptions Used to Calculate Estimated Fair Value of Stock Option Awards

The fair value of the Company's stock options awards is estimated at the date of grant using the Black-Scholes option-pricing model with the following input assumptions during the year ended December 31:

 

 

 

2021

 

2020

 

 

Range

 

Weighted Average

 

Range

 

Weighted Average

Expected volatility

 

80.49% - 83.14%

 

81.82%

 

74.49% - 82.26%

 

75.42%

Dividend yield

 

0.00%

 

0.00%

Risk-free interest rates

 

0.87% - 1.31%

 

1.19%

 

0.27% - 0.83%

 

0.73%

Expected term (in years)

 

5.49 - 6.64

 

6.05

 

5.00 - 6.60

 

6.00