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Employee Equity-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2021

Share-based Payment Arrangement [Abstract]

The following table summarizes option activity under the Company's equity based compensation plans for the six months ended June 30, 2021:


	Number of Shares	Weighted Average Exercise Price per Share
Options Outstanding January 1, 2021	8,045,461	$	14.18
Granted	489,804	7.09
Forfeited	(179,244)	13.73
Exercised	(337,393)	3.62
Expired	(77,752)	21.66
Options Outstanding June 30, 2021	7,940,876	$	14.13

Black-Scholes Assumptions for Option Granted

The table below summarizes the resulting weighted average inputs used to calculate the estimated fair value of options awarded for the three months ended June 30, 2021 and 2020:


	Three Months Ended June 30,
	2021			2020
Expected term (in years)	5.79			5.83
Volatility	65		%	60		%
Expected dividends	—			—
Risk free interest rates	1.10		%	0.39		%
Weighted average fair value	$	4.09		$	4.72

Stock Option Supplemental Information

The following table shows summary information for outstanding options and options that are exercisable (vested) as of June 30, 2021:


	Options Outstanding		Options Exercisable
Number of options	7,940,876		4,736,123
Weighted average remaining contractual term (in years)	6.32		5.03
Weighted average exercise price	$	14.13	$	14.38
Weighted average fair value	$	8.84	$	9.14
Aggregate intrinsic value (in thousands)	$	5,732	$	4,410

Restricted Stock Activity

The following table summarizes RSU and performance-based award activity for the six months ended June 30, 2021:


	Number of Shares	Weighted Average Grant Date Fair Value per Share
Outstanding January 1, 2021	526,414	$	11.17
Granted	2,663,948	11.31
Forfeited	(652,004)	12.23
Vested/released	(94,417)	10.22
Outstanding June 30, 2021	2,443,941	$	10.93

Equity-Based Compensation Expense and Tax Benefit

The table below summarizes equity-based compensation expense for the three and six months ended June 30, 2021 and 2020 (in thousands):


	Three Months Ended June 30,				Six Months Ended June 30,
	2021		2020		2021		2020
Cost of sales	$	74	$	59	$	175	$	130
Research and development	1,328		335		4,074		1,458
Sales, general and administrative	5,188		3,022		11,180		6,027
	$	6,590	$	3,416	$	15,429	$	7,615

The table below summarizes share-based compensation cost capitalized to inventory or inventory transferred to property and equipment (also referred to as instruments) for the three and six months ended June 30, 2021 and 2020 (in thousands):


	Three Months Ended June 30,				Six Months Ended June 30,
	2021		2020		2021		2020
Cost capitalized to inventory	$	87	$	28	$	242	$	138

The table below summarizes share-based compensation cost in connection with performance-based stock options for the six months ended June 30, 2021 and 2020 (in thousands):


	Six Months Ended June 30,
	2021		2020
Performance-based stock option expense	$	230	$	—

The table below summarizes share-based compensation cost in connection with performance-based RSUs for the six months ended June 30, 2021, and 2020 (in thousands):


	Six Months Ended June 30,
	2021		2020
Performance-based RSU expense	$	818	$	—