v3.22.2.2
Stockholders' Equity (Tables)
9 Months Ended
Sep. 30, 2022
Stockholders' Equity  
Schedule of common stock reserved for future issuance

Stock options outstanding under 2019 Equity Incentive Plan

890,672

Restricted stock units outstanding under 2019 Equity Incentive Plan

283,470

Performance stock units outstanding under 2019 Equity Incentive Plan, at target

383,103

Shares authorized for future issuance under 2019 Equity Incentive Plan

2,595,486

Shares authorized for future issuance under 2019 Employee Stock Purchase Plan

907,850

Total

5,060,581

Schedule of stock-based compensation expense

Three months ended September 30, 

Nine months ended September 30, 

    

2022

    

2021

    

2022

    

2021

 

(in thousands)

 

(in thousands)

Stock-Based Compensation

$

3,092

$

1,525

$

8,556

$

3,370

Schedule of stock option transactions

Number of shares

Weighted-average exercise price

Weighted average remaining contractual term (in years)

Aggregate intrinsic value (in thousands)

Outstanding at January 1, 2022

933,051

$

29.41

7.59

$

36,679

Options granted

120,978

51.68

Options exercised

(141,806)

15.26

Options canceled

(21,551)

68.02

Outstanding at September 30, 2022

890,672

$

33.75

7.16

$

45,813

Vested and Exercisable at September 30, 2022

626,853

$

25.53

6.70

$

37,127

Schedule of fair value of each option granted was estimated on the grant date using the Black-Scholes option pricing model

Risk free rate of return (1)

1.69% - 4.02%

Expected share price volatility (2)

39.73% - 42.56%

Expected life in years (3)

5.89 years

Dividend yield (4)

0%

(1) Determined based on the U.S. Treasury yield in effect at the time of the grant for zero-coupon U.S. Treasury notes with remaining terms similar to the expected term of the options.

(2) Determined based on a blend of the Company’s historic stock price volatility and the historic volatility of a peer group of publicly traded companies.

(3) Determined using the “simplified method” for estimating the expected option life, which is the average of the weighted-average vesting period and contractual term of the option as the Company does not have sufficient historical exercise data to provide a reasonable basis upon which to estimate expected term due to the limited period of time its common stock has been publicly traded.

(4) Determined to be zero as the Company has not historically issued dividends.

Schedule of RSU transactions

Number of shares

Weighted-average grant date fair value

Outstanding at January 1, 2022

235,696

$

79.33

Granted

97,662

51.51

Released

(43,959)

79.02

Forfeited

(5,929)

77.45

Non vested outstanding at September 30, 2022

283,470

$

69.83

Schedule of Performance stock unit transactions

Number of shares

Weighted-average grant date fair value

Outstanding at January 1, 2022

358,401

$

36.87

Granted

26,165

50.36

Vested

Forfeited

(1,463)

80.69

Non vested outstanding at September 30, 2022

383,103

$

37.62