COMMON STOCK OFFERING, RESTRICTED STOCK UNITS, STOCK OPTIONS AND WARRANTS (Tables)

3 Months Ended

Mar. 31, 2021

Share-based Payment Arrangement [Abstract]

Schedule of Stock Option Activity

The following table sets forth a summary of stock option activity under the Stock Plans for the three months ended March 31, 2021 (shares in thousands): 

	Shares	Price (1)		Term (2)
Outstanding, December 31, 2020	7,007	$	5.24	5.0
Granted	497	7.52
Forfeited	(11)	4.86
Expired	(84)	6.37
Exercised	(716)	4.07
Outstanding, March 31, 2021 (3)(4)	6,693	5.52		5.4
Vested, March 31, 2021 (3)	5,264	5.46		4.4

(1)Represents the weighted average exercise price.

(2)Represents the weighted average remaining contractual term until the stock options expire.

(3)As of March 31, 2021, the aggregate intrinsic value of all stock options outstanding was $23.2 million. As of March 31, 2021, the aggregate intrinsic value of vested stock options was $18.5 million.

(4)The number of outstanding stock options that are not expected to ultimately vest due to forfeiture amounted to 0.2 million shares as of March 31, 2021.

Schedule of Shares Available for Grant Activity

The following table presents activity affecting the total number of shares available for grant under the Stock Plans for the three months ended March 31, 2021 (in thousands):

Available, December 31, 2020	4,037
Newly authorized by Board of Directors	3,056
Stock options granted	(497)
Restricted stock units granted	(696)
Expired options under Stock Plans	84
Forfeited options under Stock Plans	11
Forfeited restricted stock units under Stock Plans	21
Available, March 31, 2021	6,016

Schedule of Assumptions of Fair Value of Stock Option Grants

For the three months ended March 31, 2021, the fair value of each stock option grant under the Stock Plans was estimated on the date of grant using the BSM option-pricing model, with the following weighted-average assumptions:

Expected life (in years)	6.0
Volatility	40%
Dividend yield	0%
Risk-free interest rate	0.78%
Fair value per common share on date of grant	$7.52

Schedule of Stock-based Compensation Expense

Stock-based compensation expense attributable to RSUs and stock options is classified as follows (in thousands):

	Three Months Ended March 31,
	2021		2020
Cost of revenues	$	316	$	284
Sales and marketing	727		623
General and administrative	1,190		603
Total	$	2,233	$	1,510