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Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2020

Share-based Payment Arrangement [Abstract]

The following table summarizes stock option activity for the years ended December 31, 2020 and 2019:


	Options Outstanding
	Number of Shares	Weighted-Average Exercise Price	Weighted-Average Contractual Remaining Life (Years)	Aggregate Intrinsic Value (in thousands)
Outstanding as of December 31, 2018	2,641,198	$4.27
Granted	638,983	$20.89
Exercised	(444,924)	$3.36
Canceled and forfeited	(116,286)	$11.30
Outstanding as of December 31, 2019	2,718,971	$8.02
Granted	26,236	$17.31
Exercised	(323,701)	$4.52
Canceled and forfeited	(15,549)	$17.07
Outstanding as of December 31, 2020	2,405,957	$8.54	5.80	$	51,402
Options vested and exercisable as of December 31, 2020	2,069,020	$6.85	5.40	$	47,689
Options vested and expected to vest as of December 31, 2020	2,390,755	$8.36	6.00	$	51,493

Schedule of Options by Range of Exercise Price

Outstanding options and exercisable options information by range of exercise prices as of December 31, 2020 was as follows:


Exercise Price			Options Outstanding			Options Vested and Exercisable
			Number of Shares	Average Remaining Contractual Life (Years)	Weighted- Average Exercise Price	Number of Shares	Weighted- Average Exercise Price
$0.84	-	$3.69	465,071	3.40	$3.31	465,071	$3.31
$3.70	-	$4.41	689,903	4.80	$4.29	689,903	$4.29
$4.42	-	$5.31	458,812	6.40	$4.67	422,974	$4.67
$5.32	-	$20.51	356,271	7.50	$12.08	282,203	$11.00
$20.52	-	$22.00	435,900	8.00	$22.00	208,869	$22.00
			2,405,957	5.80	$8.54	2,069,020	$6.85

Schedule of Valuation Assumptions Related to Stock Option Awards


	Year ended December 31,
	2020			2019
Weighted average grant date fair value per share	$8.16			$9.78
Expected term (years)	5.5	to	7.0	5.0	to	7.0
Expected volatility	46.7%	to	47.2%	41.7%	to	47.3%
Risk-free interest rate	1.6%	to	1.6%	1.3%	to	2.6%
Dividend yield	—%			—%

Schedule of Restricted Stock Unit Activity

The following table summarizes restricted stock units activity for the years ended December 31, 2020 and 2019:


	Number of Shares	Weighted- Average Grant Date Fair Value
Outstanding as of December 31, 2018	53,436	$11.69
Granted	639,726	$20.14
Vested	(108,631)	$19.10
Canceled and forfeited	(41,490)	$18.48
Outstanding as of December 31, 2019	543,041	$19.72
Granted	1,016,432	$20.17
Vested	(344,779)	$19.87
Canceled and forfeited	(49,399)	$19.73
Outstanding as of December 31, 2020	1,165,295	$20.07

Schedule of Valuation Assumptions Related to ESPP Purchase Rights

The Company estimated the fair value of ESPP purchase rights during the offering period using a Black-Scholes option pricing model with the following assumptions:


	Year ended December 31,
	2020			2019
Expected term (years)	0.5	to	1.0	0.5
Expected volatility	38.3%	to	79.4%	38.3%	to	58.4%
Risk-free interest rate	0.1%	to	1.6%	1.6%	to	2.4%
Dividend yield	—%			—%

Schedule of Stock-Based Compensation Expense

Stock-Based Compensation

The following table sets forth stock-based compensation expense recognized for the periods presented:


	Year ended December 31,
	2020		2019
	(in thousands)
Cost of goods sold	$	331	$	185
Sales and marketing	5,527		3,335
Research and development	1,139		516
General and administrative	4,930		3,428
	$	11,927	$	7,464