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EMPLOYEE BENEFIT PLANS (Tables)
12 Months Ended
Dec. 31, 2021
Share-based Payment Arrangement [Abstract]  
Schedule of Stock Options Outstanding
(in thousands, except per share amounts)Number
of
Shares
Weighted-Average
Exercise Price
(per share)
Balance at December 31, 20201,453 $5.80 
Exercised(1,065)6.77 
Canceled— — 
Balance at December 31, 2021388 $3.15 
Schedule of Restricted Stock Units Outstanding
(in thousands, except per share amounts)Number
of
Shares
Weighted Average
Grant-Date Fair Value
Per Share
Balance at December 31, 20203,268 $5.67 
Granted3,621 7.90 
Vested(2,913)6.27 
Forfeited(98)6.71 
Balance at December 31, 2021
3,878 $7.31 
Schedule of Defined Benefit Plans Disclosures
The Company’s pension obligations as of December 31, 2021 and 2020, and the changes to the Company’s pension obligations for each of those years, were as follows:
(in thousands)20212020
Projected benefit obligation:
Balance at January 1$6,057 $5,259 
Service cost272 252 
Interest cost20 37 
Actuarial losses 233 159 
Benefits paid(94)(173)
Foreign currency translation adjustment(485)523 
Balance at December 31$6,003 $6,057 
Presented on the Consolidated Balance Sheets as:
Current portion (included in “Accrued and other current liabilities”)$32 $47 
Long-term portion (included in “Other non-current liabilities”)$5,971 $6,010 
Schedule of Components of Net Periodic Benefit Costs The table below presents the components of net periodic benefit costs:
Year ended December 31,
(in thousands)202120202019
Service cost$272 $252 $227 
Interest cost20 37 78 
Net periodic benefit cost included in result of operations$292 $289 $305 
Schedule of Pension Obligations Assumptions Used The following assumptions were used in determining the Company’s pension obligation:
As of December 31,
20212020
Discount rate0.9 %0.4 %
Mobility rate 4.7 %5.2 %
Salary progression rate 2.5 %2.0 %
Schedule of Expected Benefit Payments
As of December 31, 2021, future benefits expected to be paid in each of the next five years, and in the aggregate for the five-year period thereafter are as follows (in thousands):
Year ending December 31,
2022$32 
2023225 
2024248 
2025469 
2026698 
2027 - 20313,491 
Total$5,163 
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs The following table sets forth the detailed allocation of the share-based compensation expense which was included in the Company’s Consolidated Statements of Operations:
 Year ended December 31,
(in thousands)202120202019
Share-based compensation expense included in:
Cost of revenue$2,345 $1,712 $1,124 
Research and development expense7,164 4,850 3,261 
Selling, general and administrative expense14,547 11,478 7,689 
Total$24,056 $18,040 $12,074 
Share-based compensation expense by type of award:
Stock options$— $— $94 
RSUs14,573 11,522 9,444 
PRSUs6,231 4,022 924 
MRSUs1,304 711 286 
Employee stock purchase rights under ESPP1,948 1,785 1,326 
Total$24,056 $18,040 $12,074 
Schedule of Valuation Assumptions for Stock Options At the date of grant, the Company estimated the fair value of each stock purchase right granted under the ESPP using the following weighted average assumptions:
 Year ended December 31,
 202120202019
Expected term (in years)0.500.500.50
Volatility45 %56 %38 %
Risk-free interest rate0.1 %0.9 %2.3 %
Expected dividends0.0 %0.0 %0.0 %