Stockholders' Equity (Tables)

9 Months Ended

Sep. 30, 2021

Share-based Payment Arrangement [Abstract]

Schedule of Stock Option Activity and Related Information

A summary of the Company’s stock option activity and related information are as follows (options in thousands):

	Nine Months Ended September 30,
	2021
	Options	Price
Outstanding, beginning of period	6,507	$	3.94
Granted	1,511	8.03
Exercised	(1,307)	2.70
Forfeited	(104)	6.01
Outstanding, end of period	6,607	5.08
Vested and expected to vest	6,607	5.08
Exercisable	2,885	3.95

Share-based Payment Arrangement, Expensed and Capitalized, Amount

Total stock-based compensation recognized, before taxes, is as follows (in thousands):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2021		2020		2021		2020
Cost of sales	$	62	$	18	$	135	$	68
Research and development	174		134		482		397
Sales, general and administrative	689		411		1,683		1,104
Total stock-based compensation	$	925	$	563	$	2,300	$	1,569

Schedule of Fair Value Assumptions

The fair value of the options granted to employees or directors was estimated as of the grant date using the Black-Scholes model assuming the weighted-average assumptions listed in the following table:

	Three Months Ended September 30,						Nine Months Ended September 30,
	2021			2020			2020			2019
Expected life (years)	5.9			6.0			6.0			6.0
Expected volatility	53		%	50		%	50		%	40		%
Risk-free interest rate	0.9		%	0.3		%	1.0		%	1.1		%
Expected dividend rate	—		%	—		%	—		%	—		%
Weighted-average fair value	$	7.00		$	2.41		$	3.88		$	1.85