Annual report pursuant to Section 13 and 15(d)

Stock-based Compensation (Tables)

v3.20.1
Stock-based Compensation (Tables)
12 Months Ended
Dec. 31, 2019
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Schedule of Stock-based Compensation Expense

Stock-based compensation expense is as follows:

 

 

 

For the Year Ended

 

 

 

December 31

 

 

 

2019

 

 

2018

 

Research and development

 

$

394

 

 

$

41

 

Sales and marketing

 

 

664

 

 

 

66

 

General and administrative

 

 

5,208

 

 

 

111

 

Cost of revenues

 

 

42

 

 

 

34

 

 

 

$

6,308

 

 

$

252

 

Summary of Stock Option Activity

Stock option activity for the years ended December 31, 2019 and 2018 is as follows:

 

 

 

 

 

 

 

Weighted average

exercise price

 

 

Weighted average

remaining

contractual life

 

 

Aggregate

Intrinsic

 

 

 

Options

 

 

per share

 

 

(in years)

 

 

Value

 

Outstanding at January 1, 2018

 

 

1,126,722

 

 

$

0.68

 

 

 

8.14

 

 

$

470

 

Options granted

 

 

458,156

 

 

$

0.90

 

 

 

 

 

 

 

 

 

Options exercised

 

 

(15,475

)

 

$

1.12

 

 

 

 

 

 

 

 

 

Options forfeited

 

 

(249,206

)

 

$

0.61

 

 

 

 

 

 

 

 

 

Options cancelled

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Outstanding at December 31, 2018

 

 

1,320,197

 

 

$

0.77

 

 

 

7.99

 

 

$

8,465

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Options granted

 

 

1,635,853

 

 

$

5.94

 

 

 

 

 

 

 

 

 

Options exercised

 

 

(95,739

)

 

$

0.85

 

 

 

 

 

 

 

 

 

Options forfeited

 

 

(186,266

)

 

$

7.02

 

 

 

 

 

 

 

 

 

Options cancelled

 

 

(28,331

)

 

$

2.72

 

 

 

 

 

 

 

 

 

Outstanding at December 31, 2019

 

 

2,645,714

 

 

$

3.50

 

 

 

8.51

 

 

$

4,184

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Vested and expected to vest at December 31, 2019

 

 

2,645,714

 

 

$

3.50

 

 

 

8.51

 

 

$

4,184

 

Vested at December 31, 2019

 

 

1,058,169

 

 

$

2.80

 

 

 

7.05

 

 

$

2,431

 

Summary of Fair Value of Option Grants Valuation Assumptions

The calculated fair value of option grants made during the years ended December 31, 2019 and 2018, were estimated using the following Black-Scholes option pricing model assumptions:

 

 

 

2019

 

 

2018

 

Expected dividend yield

 

 

0

%

 

 

0

%

Risk-free interest rate*

 

1.59%-2.33%

 

 

 

2.86

%

Expected volatility

 

 

50

%

 

 

50

%

Expected life (in years)

 

 

6.25

 

 

5.75-6.25

 

 

 

 

 

 

 

 

 

 

*All 2018 options granted on same date.

 

 

 

 

 

 

 

 

 

Summary of Stock Options Outstanding

The following table summarizes information about stock options outstanding as of December 31, 2019 and 2018:

 

 

 

 

 

2019

 

 

 

 

 

Options outstanding

 

 

Options exercisable

 

Exercise price

 

 

Total Outstanding

 

 

Weighted average

remaining

contractual life

 

 

Total exercisable

 

 

Weighted average

exercise price

 

$

0.45

 

 

 

356,906

 

 

 

4.70

 

 

 

286,322

 

 

$

0.45

 

$

0.75

 

 

 

325,747

 

 

 

7.09

 

 

 

255,364

 

 

$

0.75

 

$

0.90

 

 

 

369,056

 

 

 

8.69

 

 

 

219,743

 

 

$

0.90

 

$

1.35

 

 

 

41,815

 

 

 

4.58

 

 

 

45,148

 

 

$

1.35

 

$

1.50

 

 

 

35,232

 

 

 

5.52

 

 

 

38,565

 

 

$

1.50

 

$

2.26

 

 

 

169,000

 

 

 

9.84

 

 

 

-

 

 

$

2.26

 

$

2.48

 

 

 

610,000

 

 

 

9.92

 

 

 

-

 

 

$

2.48

 

$

3.87

 

 

 

219,640

 

 

 

10.00

 

 

 

-

 

 

$

3.87

 

$

10.94

 

 

 

518,318

 

 

 

9.27

 

 

 

213,027

 

 

$

10.94

 

 

 

 

 

 

2,645,714

 

 

 

7.05

 

 

 

1,058,169

 

 

$

2.80

 

 

 

 

 

 

2018

 

 

 

 

 

Options outstanding

 

 

Options exercisable

 

Exercise price

 

 

Total Outstanding

 

 

Weighted average

remaining

contractual life

 

 

Total exercisable

 

 

Weighted average

exercise price

 

$

0.45

 

 

 

399,567

 

 

 

6.51

 

 

 

288,402

 

 

$

0.45

 

$

0.75

 

 

 

352,261

 

 

 

8.10

 

 

 

192,290

 

 

$

0.75

 

$

0.90

 

 

 

455,041

 

 

 

9.69

 

 

 

82,924

 

 

$

0.90

 

$

1.35

 

 

 

64,376

 

 

 

5.67

 

 

 

63,962

 

 

$

1.35

 

$

1.50

 

 

 

48,952

 

 

 

6.52

 

 

 

37,677

 

 

$

1.50

 

 

 

 

 

 

1,320,197

 

 

 

7.98

 

 

 

665,255

 

 

$

0.74

 

 

 

Summary of Outstanding RSU's

The following table summarized the outstanding RSU’s as of December 31, 2019:

 

 

 

RSU's

 

Outstanding at January 1, 2018

 

 

 

Granted

 

 

287,500

 

Forfeited

 

 

(38,000

)

Outstanding at December 31, 2018

 

 

249,500

 

 

 

 

 

 

Vested at December 31, 2019