Equity Incentive Plans (Tables)

3 Months Ended

Mar. 31, 2022

Summary of Stock Option Activity

A summary of stock option activities under the 2011 Plan for the three months ended March 31, 2022 is as follows (intrinsic value in thousands):

	Number of Awards			Weighted Average Exercise Price		Weighted Average Fair Value		Weighted Average Remaining Contractual Life (in years)		Intrinsic Value
Outstanding, December 31, 2021		2,574,354		$	1.43	$	1.02		7.07	$	231,286
Exercised		(322,882	)	$	1.09	$	0.78			$	26,000
Cancelled		(9,842	)	$	1.59	$	1.05			$	790
Outstanding, March 31, 2022		2,241,630		$	1.48	$	1.05		6.85	$	199,874
Vested and exercisable at March 31, 2022		1,509,067		$	1.09	$	0.81		6.67	$	135,138
Vested and expected to vest at March 31, 2022		2,209,317		$	1.45	$	1.04		6.85	$	197,040

Summary of RSU Activity

RSU activities under the 2020 Plan is set forth below:

	Number of Awards			Weighted Average Fair Value
Outstanding, December 31, 2021		611,205		$	88.34
Granted		395,691			78.59
Vested		(49,686	)		87.72
Cancelled		(20,629	)		82.24
Outstanding, March 31, 2022		936,581		$	84.39

Schedule of Total Compensation Cost for All Share-Based Payment Arrangements Recognized

Total compensation cost for all share-based payment arrangements recognized, including $805,000 and $597,000 of stock-based compensation expense related to the Employee Stock Purchase Plan for the three months ended March 31, 2022 and 2021, respectively, was as follows (in thousands):

	Three Months Ended March 31,
	2022		2021
Cost of goods sold	$	364	$	178
Research and development		978		402
Selling, general and administrative		5,213		3,256
	$	6,555	$	3,836

2020 Employee Share Purchase Plan

Schedule of Estimated Fair Value of Option Grant and ESPP

The fair value of the ESPP shares is estimated using the Black-Scholes option pricing model with the following assumptions:

	Three Months Ended March 31,
	2022	2021
Expected term (in years)	0.5	0.5
Expected volatility	56.09%	51.91%
Dividend yield	0.00%	0.00%
Risk free interest rate	0.48%	0.08%