Stock Incentive Plan (Tables)

3 Months Ended

Mar. 31, 2022

Share-based Payment Arrangement [Abstract]

Schedule of Share Based Compensation Stock Options and Restricted Stock Activity

The following tables summarize the Company’s stock option activity during the three months ended March 31, 2022 and 2021:

	March 31, 2022
	Options Activity			Weighted Average Exercise Price (per share)		Weighted Average Remaining Contractual Term (years)		Aggregate Intrinsic Value
Balance at January 1, 2022		747,800		$	11.51		6.57	$	1,143,013
Granted		216,660			3.99
Exercised/released		(1,750	)		8.14
Cancelled/forfeited		(74,317	)		17.96
Balance at March 31, 2022		888,393		$	10.97		7.10	$	283,924
Exercisable at March 31, 2022		531,278		$	8.73		5.84	$	283,924

	March 31, 2021
	Options Activity			Weighted Average Exercise Price (per share)		Weighted Average Remaining Contractual Term (years)		Aggregate Intrinsic Value
Balance at January 1, 2021		887,640		$	9.65		6.42	$	33,433,274
Granted		44,068			45.53
Exercised/released		(28,148	)		6.16
Cancelled/forfeited		(2,750	)		11.71
Balance at March 31, 2021		900,810		$	11.42		6.35	$	23,488,929
Exercisable at March 31, 2021		543,598		$	7.55		5.19	$	16,264,671

Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions

For the three months ended March 31, 2022 and 2021, the grant-date fair value of stock options was estimated at the time of grant using the following weighted-average inputs and assumptions in the Black-Scholes option pricing model:

	For the Three Months Ended March 31,
	2022			2021
Weighted-average expected volatility		52.05	%		51.92	%
Weighted-average expected term (years)		6.25			6.25
Weighted-average expected risk-free interest rate		1.71	%		0.63	%
Dividend yield		—			—
Weighted-average fair value of options granted	$	3.99		$	21.50