Stock-Based Compensation (Tables)

9 Months Ended

Sep. 30, 2020

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Schedule of Total Stock-Based Compensation

Total stock-based compensation was as follows:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
	(in thousands)				(in thousands)
Cost of product revenue	$	162	$	81	$	303	$	156
Research and development		631		307		1,769		582
Sales and marketing		913		288		2,309		597
General and administrative		1,140		430		2,727		1,001
Total stock-based compensation	$	2,846	$	1,106	$	7,108	$	2,336

Schedule of Estimates Grant-Date Fair Value of Option Awards Using Black-Scholes Option Pricing Model with Assumptions

The Company estimates the grant-date fair value of the Company’s option awards using the Black-Scholes option pricing model. During the nine months ended September 30, 2020, the Company granted no new options. The assumptions for the Black-Scholes model for the nine months ended September 30, 2019 were as follows:

	Nine Months Ended September 30,
	2019
Expected term (in years)	6.08
Expected volatility	42.4% - 42.9%
Risk-free interest rate	2.4% - 2.6%
Expected dividend yield	0%

Schedule of Option Activity under 2009 Plan and 2019 Plan

Stock Options

Option activity under the 2009 Plan and 2019 Plan is set forth below:

	Shares Available for Grant		Number of Shares			Weighted- Average Exercise Price Per Share		Weighted- Average Remaining Term		Aggregate Intrinsic Value
								(in years)		(in thousands)
Balance, December 31, 2019		1,704,244		3,315,001		$	5.08		7.28	$	128,774
Awards authorized		943,345		—
Options exercised		—		(747,829	)		3.46
Options forfeited		37,739		(37,739	)		4.41
Balance, September 30, 2020		2,685,328		2,529,433		$	5.57		6.96	$	177,632
Vested and exercisable, September 30, 2020				1,620,762		$	4.36		6.56	$	115,785
Vested and expected to vest, September 30, 2020				2,529,433		$	5.57		6.96	$	177,632

Schedule of RSU Activity under 2019 Plan

RSU activity under the 2019 Plan is set forth below:

	Number of Shares			Weighted- Average Grant Date Fair Value Per Share
Balance, December 31, 2019		280,904		$	38.12
RSUs granted		601,183			44.69
RSUs vested		(54,004	)		37.83
RSUs forfeited		(29,375	)		41.36
Balance, September 30, 2020		798,708		$	42.96