v3.24.3
STOCK INCENTIVE PLAN AND STOCK-BASED COMPENSATION (Tables)
9 Months Ended
Sep. 30, 2024
STOCK INCENTIVE PLAN AND STOCK-BASED COMPENSATION  
Summary of changes in stock options granted

The following table summarizes stock option activity for the nine months ended September 30, 2024:

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​

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​

Weighted-

    

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​

​

​

Weighted-

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Average

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​

​

​

​

​

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Average

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Remaining

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​

Aggregate

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​

Number of

​

Exercise

​

​

Contractual

​

​

Intrinsic

​

    

Awards

    

Price

    

​

Term

    

​

Value ($000's)

Awards outstanding—December 31, 2023

 

6,316,422

​

$

32.47

​

​

7.17

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​

​

Awards issued

 

1,361,346

​

$

30.66

​

​

  

​

​

​

Awards exercised

 

(178,611)

​

$

16.60

​

​

  

​

​

​

Awards forfeited

 

(86,394)

​

$

34.90

​

​

  

​

​

​

Awards outstanding—September 30, 2024

 

7,412,763

​

$

32.49

​

​

6.92

​

$

72,791

Awards exercisable—September 30, 2024

​

4,324,302

​

$

30.63

​

​

6.00

​

$

49,434

​

Summary of changes in SARs granted

The following table summarizes SARs activity for the nine months ended September 30, 2024:

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Weighted-

    

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​

​

Weighted-

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Average

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​

​

​

​

​

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Average

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​

Remaining

​

​

Aggregate

​

​

Number of

​

Exercise

​

​

Contractual

​

​

Intrinsic

​

    

Awards

    

Price

    

​

Term

    

​

Value ($000's)

Awards outstanding—December 31, 2023

 

43,208

​

$

9.38

​

​

5.32

​

​

​

Awards issued

 

—

​

$

—

​

​

  

​

​

​

Awards exercised

 

—

​

$

—

​

​

  

​

​

​

Awards forfeited

 

—

​

$

—

​

​

  

​

​

  

Awards outstanding—September 30, 2024

 

43,208

​

$

9.38

​

​

4.57

​

$

976

Awards exercisable—September 30, 2024

​

41,382

​

$

9.19

​

​

4.52

​

$

948

Summary of changes in RSUs granted

The following table summarizes RSU activity for the nine months ended September 30, 2024:

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Weighted-

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​

​

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Average

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​

Number of

​

Grant Date

​

    

Awards

    

Fair Value

Awards outstanding—December 31, 2023

 

330,000

​

$

31.53

Awards issued

 

464,600

​

$

30.62

Awards vested

 

(135,000)

​

$

31.47

Awards forfeited

 

(13,200)

​

$

30.69

Awards outstanding—September 30, 2024

 

646,400

​

$

30.90

Summary of assumptions used to value awards

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As of

​

    

September 30, 

    

December 31, 

​

​

    

2024

    

2023

​

Dividend yield

 

0.00

%  

0.00

%

Expected volatility

 

69.84 - 72.98

%  

74.87 - 80.78

%

Risk-free interest rate

 

3.51 - 4.65

%  

3.42 - 4.62

%

Lack of marketability discount

 

0.00

%  

0.00

%

Expected term (years)

 

1.92 - 6.11

 

2.26 - 10.77

​

Summary of stock-based compensation expense

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Three Months Ended September 30, 

​

Nine Months Ended September 30, 

​

    

2024

    

2023

    

2024

    

2023

Research and development expense

​

$

1,910

​

$

1,030

​

$

4,964

​

$

2,962

Sales and marketing expense

​

 

1,815

​

 

1,218

​

 

5,909

​

 

3,437

General and administrative expense

​

 

7,723

​

 

5,709

​

 

21,972

​

 

15,912

​

​

$

11,448

​

$

7,957

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$

32,845

​

$

22,311