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Stock-Based Compensation (Tables)
3 Months Ended
Mar. 31, 2022
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]  
Allocation of Stock-Based Compensation

Stock-Based Compensation

 

 

 

Three

 

 

Three

 

 

 

Months

 

 

Months

 

 

 

Ended

 

 

Ended

 

 

 

March 31,

 

 

March 31,

 

 

 

2022

 

 

2021

 

Stock-based compensation:

 

 

 

 

 

 

 

 

Cost of revenue

 

$

201

 

 

$

173

 

Sales and marketing

 

 

744

 

 

 

440

 

Research, development and engineering

 

 

507

 

 

 

396

 

General and administrative

 

 

1,016

 

 

 

1,001

 

Stock-based compensation expense

 

 

2,468

 

 

 

2,010

 

Capitalized to software and patent costs

 

 

36

 

 

 

36

 

Total stock-based compensation

 

$

2,504

 

 

$

2,046

 

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

 

 

 

March 31,

 

 

December 31,

 

 

 

2022

 

 

2021

 

Total unrecognized compensation costs

 

$

20,967

 

 

$

11,301

 

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 March 31, 2022, for all non-vested stock-based awards over weighted average periods through March 31, 2026, as follows:

 

 

 

Restricted

 

 

 

 

 

 

Stock

 

RSUs

 

PSUs

Weighted average period

 

1.29 years

 

1.55 years

 

1.89 years

Schedule of Outstanding Stock Option Activity

The following table presents the outstanding stock option activity:

 

 

 

 

 

 

 

Weighted

 

 

Weighted

 

 

 

 

 

 

 

 

 

 

 

Average

 

 

Average

 

 

Aggregate

 

 

 

Number of

 

 

Exercise

 

 

Grant Date

 

 

Intrinsic

 

Three months ended March 31, 2022:

 

Options

 

 

Price

 

 

Fair Value

 

 

Value

 

Outstanding at December 31, 2021

 

 

50

 

 

$

39.54

 

 

$

22.23

 

 

 

 

 

Granted

 

 

1

 

 

$

22.15

 

 

$

 

 

 

 

 

Exercised

 

 

 

 

$

 

 

$

 

 

 

 

 

Forfeited or expired

 

 

 

 

$

 

 

$

 

 

 

 

 

Outstanding at March 31, 2022

 

 

51

 

 

$

39.14

 

 

$

21.72

 

 

$

5

 

Exercisable at March 31, 2022

 

 

51

 

 

$

39.14

 

 

 

 

 

 

$

5

 

 

 

Schedule of Unvested Restricted Stock Activity

The following table presents the unvested restricted stock activity:

 

 

 

 

 

 

 

Weighted

 

 

 

 

 

 

 

Average

 

 

 

Number of

 

 

Grant Date

 

Three months ended March 31, 2022:

 

Shares

 

 

Fair Value

 

Unvested balance, December 31, 2021

 

 

360

 

 

$

34.90

 

Granted

 

 

 

 

$

 

Vested

 

 

(50

)

 

$

32.21

 

Forfeited

 

 

(8

)

 

$

36.82

 

Unvested balance, March 31, 2022

 

 

302

 

 

$

35.29

 

 

 

Fair Value of Vested Restricted Stock Awards

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

 

 

 

Three

 

 

Three

 

 

 

Months

 

 

Months

 

 

 

Ended

 

 

Ended

 

 

 

March 31,

 

 

March 31,

 

 

 

2022

 

 

2021

 

Fair value of restricted stock awards vested

 

$

1,603

 

 

$

2,175

 

Restricted Stock Units (RSUs)  
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]  
Schedule of Unvested Restricted Stock Units

The following table presents the unvested RSU activity:

 

 

 

 

 

 

 

Weighted

 

 

 

 

 

 

 

Average

 

 

 

Number of

 

 

Grant Date

 

Three months ended March 31, 2022:

 

Shares

 

 

Fair Value

 

Unvested balance, December 31, 2021

 

 

 

 

$

 

Granted

 

 

309

 

 

$

32.35

 

Vested

 

 

(1

)

 

$

40.84

 

Forfeited

 

 

 

 

$

 

Unvested balance, March 31, 2022

 

 

308

 

 

$

32.31

 

Fair Value of Vested Restricted Stock Units

The fair value of RSU awards vested is as follows:

 

 

 

Three

 

 

Three

 

 

 

Months

 

 

Months

 

 

 

Ended

 

 

Ended

 

 

 

March 31,

 

 

March 31,

 

 

 

2022

 

 

2021

 

Fair value of RSU awards vested

 

$

47

 

 

$

 

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

The following table presents the unvested PSU activity:

 

 

 

 

 

 

 

Weighted

 

 

 

 

 

 

 

Average

 

 

 

Number of

 

 

Grant Date

 

Three months ended March 31, 2022:

 

Shares

 

 

Fair Value

 

Unvested balance, December 31, 2021

 

 

 

 

$

 

Granted

 

 

144

 

 

$

32.02

 

Vested

 

 

 

 

$

 

Forfeited

 

 

 

 

$

 

Unvested balance, March 31, 2022

 

 

144

 

 

$

 

Fair Value of Vested Performance Stock Units

 

The fair value of PSU awards vested is as follows:

 

 

 

Three

 

 

Three

 

 

 

Months

 

 

Months

 

 

 

Ended

 

 

Ended

 

 

 

March 31,

 

 

March 31,

 

 

 

2022

 

 

2021

 

Fair value of PSU awards vested

 

$

 

 

$

 

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

Monte Carlo valuation inputs:

 

 

Three

 

 

Three

 

 

 

Months

 

 

Months

 

 

 

Ended

 

 

Ended

 

 

 

March 31,

 

 

March 31,

 

 

 

2022

 

 

2021

 

Stock price

 

$

32.02

 

 

$

 

Expected volatility

 

 

82.8

%

 

 

 

Risk-free interest rate

 

 

1.8

%