Stock Based Compensation (Tables)
|
9 Months Ended |
Sep. 30, 2021 |
|---|
| Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] |
|
| Summary of Stock Option Activity |
The following is a summary of the Company’s stock option activity during the nine months ended September 30, 2021:
|
|
|
Number of
Options
|
|
|
Weighted
Average
Exercise
Price
|
|
|
Weighted
Average
Remaining
Life In
Years
|
|
|
Intrinsic
Value
|
|
|
Outstanding at January 1, 2021
|
|
|
550,985
|
|
|
$
|
5.67
|
|
|
|
3.2
|
|
|
$
|
3,384
|
|
|
Granted
|
|
|
–
|
|
|
|
–
|
|
|
|
–
|
|
|
|
–
|
|
|
Exercised
|
|
|
–
|
|
|
|
–
|
|
|
|
–
|
|
|
|
–
|
|
|
Forfeited
|
|
|
–
|
|
|
|
–
|
|
|
|
–
|
|
|
|
–
|
|
|
Outstanding at September 30, 2021
|
|
|
550,985
|
|
|
$
|
5.67
|
|
|
|
0.9
|
|
|
$
|
11,279
|
|
|
Exercisable at January 1, 2021
|
|
|
550,985
|
|
|
$
|
5.67
|
|
|
|
3.2
|
|
|
$
|
3,384
|
|
|
Vested
|
|
|
–
|
|
|
|
–
|
|
|
|
–
|
|
|
|
–
|
|
|
Exercised
|
|
|
–
|
|
|
|
–
|
|
|
|
–
|
|
|
|
–
|
|
|
Forfeited
|
|
|
–
|
|
|
|
–
|
|
|
|
–
|
|
|
|
–
|
|
|
Exercisable at September 30, 2021
|
|
|
550,985
|
|
|
$
|
5.67
|
|
|
|
0.9
|
|
|
$
|
11,279
|
|
|
| Schedule of Restricted Stock Units Activity |
A summary of the activity related to RSUs for the nine months ended September 30, 2021 is presented below:
|
|
|
Total
|
|
|
Weighted
Average
Grant
Date Fair
Value
|
|
|
Outstanding at January 1, 2021
|
|
|
1,421,168
|
|
|
$
|
6.43
|
|
|
RSUs granted
|
|
|
1,185,476
|
|
|
$
|
3.67
|
|
|
RSUs forfeited
|
|
|
(209,505
|
)
|
|
$
|
4.61
|
|
|
RSUs vested
|
|
|
(1,213,188
|
)
|
|
$
|
5.51
|
|
|
Outstanding at September 30, 2021
|
|
|
1,183,951
|
|
|
$
|
4.92
|
|
|
| Summary of Activity Related to PSUs |
A summary of the activity related to PSUs for the nine months ended September 30, 2021 is presented below:
|
|
|
Total
|
|
|
Weighted
Average Grant
Date Fair Value
|
|
|
Outstanding at January 1, 2021
|
|
|
–
|
|
|
$
|
–
|
|
|
PSUs granted
|
|
|
1,465,713
|
|
|
|
4.23
|
|
|
PSUs forfeited
|
|
|
(147,663
|
)
|
|
|
4.12
|
|
|
PSUs vested
|
|
|
(494,608
|
)
|
|
|
4.51
|
|
|
Outstanding at September 30, 2021
|
|
|
823,442
|
|
|
|
4.08
|
|
|
| Summary of Fair Values of Stock Options Granted |
The fair values of ESPP purchase options granted were estimated using the following assumptions:
|
|
|
Nine Months Ended
September 30, 2021
|
|
|
Nine Months Ended
September 30, 2020
|
|
|
Stock price
|
|
$1.80 - $2.78
|
|
|
$1.77 - $2.96
|
|
|
Dividend yield
|
|
|
0
|
%
|
|
|
0
|
%
|
|
Expected volatility
|
|
95% - 143%
|
|
|
61% - 182%
|
|
|
Risk-free interest rate
|
|
0.05% - 0.09%
|
|
|
0.17% - 1.57%
|
|
|
Expected life
|
|
6 months
|
|
|
6 months
|
|
|
| Summary of Stock-based Compensation Costs Recognized |
The following tables summarize total stock-based compensation costs recognized for the three and nine months ended September 30, 2021 and 2020:
|
|
|
Three Months Ended September 30,
|
|
|
Nine Months Ended September,
|
|
|
|
|
2021
|
|
|
2020
|
|
|
2021
|
|
|
2020
|
|
|
Stock options
|
|
$
|
284,994
|
|
|
$
|
–
|
|
|
$
|
284,994
|
|
|
$
|
–
|
|
|
RSUs
|
|
|
1,010,990
|
|
|
|
1,876,686
|
|
|
|
4,571,726
|
|
|
|
6,227,105
|
|
|
PSUs
|
|
|
843,741
|
|
|
|
–
|
|
|
|
3,539,588
|
|
|
|
(88,348
|
)
|
|
ESPP
|
|
|
76,814
|
|
|
|
96,056
|
|
|
|
194,781
|
|
|
|
180,191
|
|
|
Total
|
|
$
|
2,216,539
|
|
|
$
|
1,972,742
|
|
|
$
|
8,591,089
|
|
|
$
|
6,318,948
|
|
|
| Summary of Stock-based Compensation Reflected within Statements of Operations |
The total amount of stock-based compensation was reflected within the statements of operations as:
|
|
|
Three Months Ended September 30,
|
|
|
Nine Months Ended September 30,
|
|
|
|
|
2021
|
|
|
2020
|
|
|
2021
|
|
|
2020
|
|
|
Research and development
|
|
$
|
1,207,415
|
|
|
$
|
922,858
|
|
|
$
|
4,873,925
|
|
|
$
|
3,055,885
|
|
|
Sales and marketing
|
|
|
565,367
|
|
|
|
385,171
|
|
|
|
2,046,728
|
|
|
|
1,189,964
|
|
|
General and administrative
|
|
|
158,763
|
|
|
|
664,713
|
|
|
|
1,385,442
|
|
|
|
2,073,099
|
|
|
Severance expense
|
|
|
284,994
|
|
|
|
–
|
|
|
|
284,994
|
|
|
|
–
|
|
|
Total
|
|
$
|
2,216,539
|
|
|
$
|
1,972,742
|
|
|
$
|
8,591,089
|
|
|
$
|
6,318,948
|
|
|