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Stockholders' Equity and Stock-Based Compensation
 9 Months Ended
Sep. 30, 2023
Equity [Abstract]  
Stockholders' Equity and Stock-Based Compensation Stockholders' Equity and Stock-Based Compensation
Restricted Stock Awards and Units
Restricted stock award ("RSA") and restricted stock unit ("RSU") activity under our equity incentive plan was as follows:

Number of Restricted Stock Awards and Units (Thousands)Weighted-Average Grant Date Fair Value
Balance, December 31, 20223,115 $18.76 
Granted1,581 10.28 
Vested(1,100)19.97 
Forfeited(304)20.12 
Balance, September 30, 20233,292 14.16 

The total fair value of RSUs and RSAs vested during the nine months ended September 30, 2023, was $22.0 million. Awards outstanding as of September 30, 2023 include 0.9 million performance-based awards that will vest upon meeting certain performance criteria. Approximately 0.5 million total performance-based awards were granted in 2023. These awards vest based on a market metric called Total Shareholder Return ("TSR") for the performance period of three years relative to the TSR of companies in the Russell 2000 Index and had a weighted average grant date fair value of $14.21 per share using a Monte Carlo simulation pricing model.
Stock Options
The following table summarizes our stock option activity during the nine months ended September 30, 2023:
 Number of Options (Thousands)Weighted-Average Exercise PriceWeighted-Average Remaining Contractual Term (Years)Aggregate Intrinsic Value (Thousands)
Outstanding, December 31, 20221,827 $1.293.4$16,156
Options exercised(278)1.39
Outstanding, September 30, 20231,549 1.282.614,128
Options exercisable at September 30, 20231,549 1.282.614,128
Options vested as of September 30, 2023, and expected to vest after September 30, 20231,549 1.282.614,128

Total intrinsic value of options exercised for the nine months ended September 30, 2023 and 2022, was $2.5 million and $7.5 million, respectively. We received proceeds of $0.4 million and $1.1 million from the exercise of options for the nine months ended September 30, 2023 and 2022, respectively.

Stock-Based Compensation
Total stock-based compensation expense was included in our Consolidated Statements of Operations as follows (in thousands):
Three Months Ended September 30,Nine Months Ended September 30,
2023202220232022
Cost of revenues$508 $712 $1,871 $2,105 
Research and development2,613 3,169 7,537 9,408 
Sales, general and administrative3,506 3,614 10,237 9,215 
$6,627 $7,495 $19,645 $20,728 

Unrecognized Compensation Costs
As of September 30, 2023, total unrecognized stock-based compensation was $36.7 million, which will be recognized over an average expected recognition period of 2.0 years.