Equity Incentive Plans (Tables)

9 Months Ended

Sep. 30, 2020

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Summary of Stock Option Activity

A summary of stock option activity under the 2011 Plan for the nine months ended September 30, 2020 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, 2019		4,082,302		$	0.90	$	0.74		8.76	$	22,667
Granted		305,494			7.47		3.73
Exercised		(433,402	)		0.52		0.50				21,053
Cancelled		(98,380	)		8.50		3.63				1,007
Outstanding, September 30, 2020		3,856,014		$	1.27	$	0.93		8.18	$	261,235
Vested and exercisable at September 30, 2020		1,494,281		$	0.64	$	0.54		7.80	$	102,179
Vested and expected to vest at September 30, 2020		3,845,366		$	1.19	$	0.87		8.10	$	260,821

Schedule of Estimated Fair Value of Option Grant on Date of Grant

The fair value of each option grant was estimated on the date of grant using the Black-Scholes option pricing model with the following assumptions for the nine months ended September 30, 2020 and 2019:

	2020	2019
Expected volatility	40.60%	64.60% - 93.40%
Weighted-average volatility	40.60%	90.06%
Common stock fair value (per share)	$7.88 - $9.05	$0.59 - $3.87
Dividend yield	0.00%	0.00%
Risk free interest rates	1.46% - 1.68%	1.67% - 2.44%
Expected remaining term in years	5.90 - 6.07	5.02 - 6.06

Summary of RSU Activity

RSU activity under the 2020 Plan is set forth below (intrinsic value in thousands):

	Number of Awards			Weighted Average Fair Value		Intrinsic Value
Outstanding, December 31, 2019		—		$	—	$	—
Granted		173,548			55.54		9,619
Vested		(80	)		51.41		4
Cancelled		(3,200	)		41.41		165
Outstanding, September 30, 2020		170,268		$	55.62	$	11,752

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

Total compensation cost for all share-based payment arrangements recognized was as follows (in thousands):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
Cost of goods sold	$	37	$	19	$	109	$	31
Research and development		199		27		323		67
Selling, general and administrative		723		94		1,527		232
	$	959	$	140	$	1,959	$	330