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Stock Based Compensation (Tables)
9 Months Ended
Sep. 30, 2021
Share-based Payment Arrangement [Abstract]  
Share-based Payment Arrangement, Expensed and Capitalized, Amount Stock-based compensation expense, net of forfeitures of $308.0 thousand and $21.0 thousand for the three months ended September 30, 2021 and 2020, respectively, and stock-based compensation expense, net of forfeitures of $415.0 thousand and $53.0 thousand for nine months ended September 30, 2021 and 2020, respectively, was recorded in the following line items in the condensed consolidated statements of operations for the three and nine months ended September 30:
Three Months
Ended September 30,
Nine Months Ended
September 30,
2021202020212020
Cost of sales - contracts$72 $79 $256 $278 
Selling, general and administrative3,713 926 9,100 2,939 
Total stock-based compensation expense$3,785 $1,005 $9,356 $3,217 
Summary of Stock Option Activity summary of stock option activity for the nine months ended September 30, 2021 is below:
(in thousands, except for exercise price)Options outstandingWeighted
average
exercise price
Outstanding at January 1, 2021957 $14.29 
Granted563 7.79 
Exercised(76)10.92 
Canceled/forfeited(80)13.02 
Outstanding at September 30, 20211,364 $11.87 
Schedule of Assumptions for Fair Value of Options at the Date of the Grant The fair value of options at the date of the grant was estimated using the Black-Scholes model with the following assumptions for the nine months ended September 30, 2021:
Weighted average expected term3.1 years
Weighted average risk-free interest rate0.4 %
Weighted average expected volatility56.5 %
Expected dividend yieldNone
Estimated fair value (per share)$60.47
Summary of Restricted Stock and RSU Awards Activity
A summary of unvested restricted stock units (“RSU”) activity for the nine months ended September 30, 2021 is below:
(in thousands, except for award value)Restricted Stock
Unit Awards
Weighted
average
award value
Outstanding at January 1, 2021427 $15.46 
Granted197 66.24 
Vested(130)16.63 
Canceled/forfeited(27)71.87 
Outstanding at September 30, 2021467 $33.24