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Stockholders' Equity (Tables)
12 Months Ended
Dec. 31, 2015
Equity [Abstract]  
Summary of Outstanding Warrants Issued By Company

Below is a summary of outstanding warrants issued by the Company as of December 31, 2015:

 

Warrant Type

 

Shares Issuable Pursuant to the Exercise of Warrants

 

 

Weighted Average Exercise Price

 

 

Issue Date

 

Expiration Date

Consultant Warrant

 

 

85,000

 

 

$

10.70

 

 

August 13, 2014

 

August 13, 2019

Opus Warrant

 

 

100,000

 

 

 

9.90

 

 

March 31, 2014

 

March 31, 2019

2013 Private Placement Warrants

 

 

186,878

 

 

 

10.00

 

 

August 14, 2013

 

August 14, 2017

Total

 

 

371,878

 

 

 

 

 

 

 

 

 

 

Summary of Activity under Stock-Based Compensation Plans

A summary of activity for the Company’s stock option plans for the year ended December 31, 2015 follows:

 

 

Number Outstanding

 

 

Average Exercise Price per Share

 

 

Weighted Average Remaining Contractual Term (Years)

 

 

Average Intrinsic Value

 

Balance at December 31, 2014

 

897,115

 

 

$

12.09

 

 

 

 

 

 

 

 

 

Granted

 

 

 

 

 

 

 

 

 

 

 

 

 

Cancelled or expired

 

(110,131

)

 

 

16.64

 

 

 

 

 

 

 

 

 

Exercised

 

(5,180

)

 

 

8.01

 

 

 

 

 

 

 

 

 

Balance at December 31, 2015

 

781,804

 

 

$

11.48

 

 

6.72

 

 

$

-

 

Vested or expected to vest at

   December 31, 2015

 

744,258

 

 

$

11.59

 

 

 

6.54

 

 

$

-

 

Exercisable at December 31,

   2015

 

495,206

 

 

$

12.88

 

 

5.85

 

 

$

-

 

 

Summary Information about Options Outstanding

The following table summarizes information about options outstanding as of December 31, 2015:

 

 

 

Options Outstanding

 

 

Options Exercisable

 

Range of Exercise Prices

 

Number Outstanding

 

 

Weighted Average Remaining Contractual Life (Years)

 

 

Weighted Average Exercise Price

 

 

Number Exercisable

 

 

Weighted Average Exercise Price

 

$5.20 - $8.40

 

 

158,222

 

 

 

7.59

 

 

$

6.40

 

 

 

100,345

 

 

$

6.64

 

$8.41 - $8.80

 

 

230,688

 

 

 

7.84

 

 

 

8.80

 

 

 

106,382

 

 

 

8.80

 

$8.81 - $12.00

 

 

247,769

 

 

 

6.80

 

 

 

11.21

 

 

 

147,229

 

 

 

11.41

 

$12.01 - $40.20

 

 

140,775

 

 

 

3.39

 

 

 

21.06

 

 

 

136,900

 

 

 

21.24

 

$40.21 - $43.40

 

 

4,350

 

 

 

1.22

 

 

 

43.38

 

 

 

4,350

 

 

 

43.38

 

$5.20 - $43.40

 

 

781,804

 

 

 

6.63

 

 

 

11.48

 

 

 

495,206

 

 

 

12.88

 

 

Weighted-average Assumptions Used in Estimating Fair Value of Option Grants by Using Black-Scholes-Merton Model

 

The fair value of option grants was estimated using the Black-Scholes-Merton model with the following weighted-average assumptions for the years ended December 31:

 

 

2015

 

2014

 

Risk-free interest rate

N/A

 

 

1.54

%

Expected volatility

N/A

 

 

88.7

%

Expected term in years

N/A

 

 

4.79

 

Dividend yield

N/A

 

None

 

 

Summary of Restricted Stock Unit Activity

The following is a summary of restricted stock and RSU activity for the year ended December 31, 2015:

 

 

Number Outstanding

 

 

Weighted Average Fair Value

 

 

Weighted Average Remaining Contractual Term (Years)

 

Average Intrinsic Value

 

Balance at December 31, 2014

 

542,342

 

 

$

13.74

 

 

 

 

 

 

 

Granted

 

285,247

 

 

 

12.34

 

 

 

 

 

 

 

Vested

 

(52,421

)

 

 

14.53

 

 

 

 

 

 

 

Forfeited

 

(53,250

)

 

 

11.17

 

 

 

 

 

 

 

Balance at December 31, 2015

 

721,918

 

 

$

13.32

 

 

1.3

 

$

1,436,619

 

 

Stock-Based Compensation Expense

The following table illustrates all stock-based compensation expense related to the ESPP, stock options and RSUs included in the consolidated statements of operations for the years ended December 31, 2015 and 2014 (in thousands):

 

 

 

Year Ended

 

 

 

December 31,

 

 

 

2015

 

 

2014

 

Cost of revenue

 

$

85

 

 

$

36

 

Research and development

 

 

324

 

 

 

142

 

Selling and marketing

 

 

1,085

 

 

 

303

 

General and administrative

 

 

3,022

 

 

 

1,396

 

Total

 

$

4,516

 

 

$

1,877

 

 

Summary of Common Stock Reserved For Future Issuance

Common stock reserved for future issuance as of December 31, 2015 was as follows:

 

Exercise of outstanding stock options and vesting of RSUs

 

 

1,503,722

 

ESPP

 

 

293,888

 

Shares of common stock available for grant under the 2011 Plan

 

 

218,244

 

Noncontrolling interest in Bluehill AG

 

 

10,355

 

Warrants to purchase common stock

 

 

741,047

 

Total

 

 

2,767,256