XML 37 R26.htm IDEA: XBRL DOCUMENT v3.21.2
Stock-Based Compensation (Tables)
9 Months Ended
Sep. 30, 2021
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]  
Allocation of Stock-Based Compensation

Stock-Based Compensation

 

 

 

Three

 

 

Three

 

 

Nine

 

 

Nine

 

 

 

Months

 

 

Months

 

 

Months

 

 

Months

 

 

 

Ended

 

 

Ended

 

 

Ended

 

 

Ended

 

 

 

September 30,

 

 

September 30,

 

 

September 30,

 

 

September 30,

 

 

 

2021

 

 

2020

 

 

2021

 

 

2020

 

Stock-based compensation:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cost of revenue

 

$

164

 

 

$

216

 

 

$

515

 

 

$

602

 

Sales and marketing

 

 

369

 

 

 

591

 

 

 

2,359

 

 

 

1,674

 

Research, development and engineering

 

 

401

 

 

 

694

 

 

 

1,202

 

 

 

1,495

 

General and administrative

 

 

667

 

 

 

1,126

 

 

 

6,272

 

 

 

3,378

 

Stock-based compensation expense

 

 

1,601

 

 

 

2,627

 

 

 

10,348

 

 

 

7,149

 

Capitalized to software and patent costs

 

 

37

 

 

 

40

 

 

 

111

 

 

 

125

 

Total stock-based compensation

 

$

1,638

 

 

$

2,667

 

 

$

10,459

 

 

$

7,274

 

Unrecognized Compensation Cost Related to Non-Vested Stock-Based Awards Granted

The following table sets forth total unrecognized compensation costs related to non-vested stock-based awards granted under the Company’s equity compensation plan:

 

 

 

As of

 

 

As of

 

 

 

September 30,

 

 

December 31,

 

 

 

2021

 

 

2020

 

Total unrecognized compensation costs

 

$

11,797

 

 

$

14,416

 

Weighted Average Period for Recognition of Unrecognized Compensation Cost for Stock Options and Restricted Stock

The Company expects to recognize the total unrecognized compensation costs as of September 30, 2021, for stock option, restricted stock, RSU, and PRSU awards over weighted average periods through September 30, 2025, as follows:

 

 

 

Stock

 

 

Restricted

 

 

 

 

 

 

 

 

 

 

Options

 

 

Stock

 

RSUs

 

 

PRSUs

 

Weighted average period

 

 

 

 

1.38 years

 

 

 

 

 

 

Schedule of Outstanding Stock Option Activity

The following tables present the outstanding stock option activity:

 

 

 

 

 

 

 

Weighted

 

 

Weighted

 

 

 

 

 

 

 

 

 

 

 

Average

 

 

Average

 

 

Aggregate

 

 

 

Number of

 

 

Exercise

 

 

Grant Date

 

 

Intrinsic

 

Three months ended September 30, 2021:

 

Options

 

 

Price

 

 

Fair Value

 

 

Value

 

Outstanding at June 30, 2021

 

 

200

 

 

$

34.55

 

 

$

15.43

 

 

 

 

 

Granted

 

 

 

 

$

 

 

$

 

 

 

 

 

Exercised

 

 

(100

)

 

$

29.55

 

 

$

19.79

 

 

 

 

 

Forfeited or expired

 

 

 

 

$

 

 

$

 

 

 

 

 

Outstanding at September 30, 2021

 

 

100

 

 

$

39.54

 

 

$

22.23

 

 

$

 

 

 

 

 

 

 

 

Weighted

 

 

Weighted

 

 

 

 

 

 

 

 

 

 

 

Average

 

 

Average

 

 

Aggregate

 

 

 

Number of

 

 

Exercise

 

 

Grant Date

 

 

Intrinsic

 

Nine months ended September 30, 2021:

 

Options

 

 

Price

 

 

Fair Value

 

 

Value

 

Outstanding at December 31, 2020

 

 

305

 

 

$

27.94

 

 

$

12.65

 

 

 

 

 

Granted

 

 

 

 

$

 

 

$

 

 

 

 

 

Exercised

 

 

(170

)

 

$

23.71

 

 

$

15.93

 

 

 

 

 

Forfeited or expired

 

 

(35

)

 

$

15.36

 

 

$

7.36

 

 

 

 

 

Outstanding at September 30, 2021

 

 

100

 

 

$

39.54

 

 

$

22.23

 

 

$

 

Exercisable at September 30, 2021

 

 

100

 

 

$

39.54

 

 

 

 

 

 

$

 

 

Schedule of Unvested Restricted Stock Activity

The following tables present the unvested restricted stock activity:

 

 

 

 

 

 

 

Weighted

 

 

 

 

 

 

 

Average

 

 

 

Number of

 

 

Grant Date

 

Three months ended September 30, 2021:

 

Shares

 

 

Fair Value

 

Unvested balance, June 30, 2021

 

 

458

 

 

$

33.76

 

Granted

 

 

25

 

 

$

25.83

 

Vested

 

 

(78

)

 

$

32.58

 

Forfeited

 

 

(16

)

 

$

39.21

 

Unvested balance, September 30, 2021

 

 

389

 

 

$

33.26

 

 

 

 

 

 

 

 

Weighted

 

 

 

 

 

 

 

Average

 

 

 

Number of

 

 

Grant Date

 

Nine months ended September 30, 2021:

 

Shares

 

 

Fair Value

 

Unvested balance, December 31, 2020

 

 

416

 

 

$

28.20

 

Granted

 

 

223

 

 

$

39.26

 

Vested

 

 

(199

)

 

$

29.43

 

Forfeited

 

 

(51

)

 

$

33.13

 

Unvested balance, September 30, 2021

 

 

389

 

 

$

33.26

 

 

 

Fair Value of Vested Restricted Stock Awards

The fair value of vested restricted stock awards is as follows:

 

 

 

Three

 

 

Three

 

 

Nine

 

 

Nine

 

 

 

Months

 

 

Months

 

 

Months

 

 

Months

 

 

 

Ended

 

 

Ended

 

 

Ended

 

 

Ended

 

 

 

September 30,

 

 

September 30,

 

 

September 30,

 

 

September 30,

 

 

 

2021

 

 

2020

 

 

2021

 

 

2020

 

Fair value of restricted stock awards vested

 

$

2,188

 

 

$

1,168

 

 

$

6,648

 

 

$

4,239

 

Restricted Stock Units [Member]  
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]  
Schedule of Unvested Restricted Stock Unit

The following table presents the unvested RSU activity:

 

 

 

 

 

 

 

Weighted

 

 

 

 

 

 

 

Average

 

 

 

Number of

 

 

Grant Date

 

Nine months ended September 30, 2021:

 

Units

 

 

Fair Value

 

Unvested balance, December 31, 2020

 

 

45

 

 

$

15.36

 

Granted

 

 

 

 

$

 

Vested

 

 

(30

)

 

$

15.36

 

Forfeited

 

 

(15

)

 

$

15.36

 

Unvested balance, September 30, 2021

 

 

 

 

$

 

Performance Restricted Stock Units [Member]  
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]  
Schedule of Unvested Performance Restricted Stock Unit

The following table presents the unvested PRSU activity:

 

 

 

 

 

 

 

Weighted

 

 

 

 

 

 

 

Average

 

 

 

Number of

 

 

Grant Date

 

Nine months ended September 30, 2021:

 

Units

 

 

Fair Value

 

Unvested balance, December 31, 2020

 

 

124

 

 

$

11.08

 

Granted

 

 

 

 

$

 

Vested (1)

 

 

(82

)

 

$

15.54

 

Forfeited

 

 

(42

)

 

$

11.08

 

Unvested balance, September 30, 2021

 

 

 

 

$

 

(1)

Includes the impact of the modification of 21 PRSUs which were cancelled and reissued at a grant date fair value of $28.93.

Black Scholes Option Valuation [Member]  
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]  
Stock Option Valuation Assumptions Black Scholes option valuation inputs:

 

 

 

Three

 

 

Three

 

 

Nine

 

 

Nine

 

 

 

Months

 

 

Months

 

 

Months

 

 

Months

 

 

 

Ended

 

 

Ended

 

 

Ended

 

 

Ended

 

 

 

September 30,

 

 

September 30,

 

 

September 30,

 

 

September 30,

 

 

 

2021

 

 

2020

 

 

2021

 

 

2020

 

Stock price

 

$

 

 

$

15.36

 

 

$

 

 

$

15.36

 

Expected life (years)

 

 

 

 

 

3.25

 

 

 

 

 

 

3.25

 

Expected volatility

 

 

 

 

 

70.91

%

 

 

 

 

 

70.91

%

Risk-free interest rate

 

 

 

 

 

0.25

%

 

 

 

 

 

0.25

%

Expected dividend yield

 

 

 

 

 

0

%

 

 

 

 

 

0

%

Monte Carlo Valuation [Member]  
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]  
Stock Option Valuation Assumptions

Monte Carlo valuation inputs:

 

 

 

Three

 

 

Three

 

 

Nine

 

 

Nine

 

 

 

Months

 

 

Months

 

 

Months

 

 

Months

 

 

 

Ended

 

 

Ended

 

 

Ended

 

 

Ended

 

 

 

September 30,

 

 

September 30,

 

 

September 30,

 

 

September 30,

 

 

 

2021

 

 

2020

 

 

2021

 

 

2020

 

Stock price

 

$

 

 

$

16.49

 

 

$

 

 

$

16.49

 

Expected volatility

 

 

 

 

 

72.50

%

 

 

 

 

 

72.50

%

Risk-free interest rate

 

 

 

 

 

0.14

%

 

 

 

 

 

0.14

%