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Employee Benefit Plans and Stock-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2019
Employee Benefit Plans and Stock-Based Compensation  
Summary of compensation costs related to stock-based awards

The following table summarizes compensation costs related to our stock‑based compensation awards (in thousands, except per share data):

 

 

 

 

 

 

 

 

 

 

 

 

 

Year Ended

 

 

 

December 31, 

 

 

    

2019

    

2018

 

2017

 

Cost of revenue

 

$

125

 

$

92

 

$

39

 

Selling, general and administrative

 

 

1,778

 

 

1,520

 

 

1,146

 

Research and development

 

 

443

 

 

313

 

 

220

 

Total stock-based compensation

 

 

2,346

 

 

1,925

 

 

1,405

 

Tax effect on stock-based compensation

 

 

 —

 

 

 —

 

 

 —

 

Net effect on net income (loss)

 

$

2,346

 

$

1,925

 

$

1,405

 

Shares used in computing basic net income (loss) per share

 

 

39,487

 

 

39,049

 

 

37,444

 

Shares used in computing diluted net income (loss) per share

 

 

39,487

 

 

40,265

 

 

38,966

 

Effect on basic net income (loss) per share

 

$

(0.06)

 

$

(0.05)

 

$

(0.04)

 

Effect on diluted net income (loss) per share

 

$

(0.06)

 

$

(0.05)

 

$

(0.04)

 

 

Summary of weighted-average assumptions

 

 

 

 

 

 

 

 

 

 

 

 

Year Ended

 

 

 

December 31, 

 

 

 

2019

    

 

2018

    

 

2017

 

Expected term (in years)

 

6.1

    

 

5.8

    

 

5.8

    

Volatility

 

49.5

%  

 

46.6

%  

 

46.5

%  

Expected dividend

 

 —

%  

 

 —

%  

 

 —

%  

Risk-free interest rate

 

1.67

%  

 

3.09

%  

 

2.10

%  

 

Summary of stock option activity

The following table summarizes the stock option transactions for each of the years ended December 31, 2017, 2018 and 2019 (in thousands, except per share data):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted

 

 

 

 

 

    

 

    

 

 

    

average

    

 

 

 

 

 

 

 

Weighted-

 

Remaining

 

 

 

 

 

 

Number of

 

average

 

Contractual

 

Aggregate

 

 

 

Options

 

Exercise

 

Life

 

Intrinsic

 

Stock Options

    

Outstanding

    

Price

    

(in years)

    

Value

 

Balance as of January 1, 2017

 

3,294

 

$

3.38

 

7.23

 

$

5,301

 

Granted

 

184

 

 

8.99

 

 

 

 

 

 

Exercised

 

(762)

 

 

3.25

 

 

 

 

 

 

Canceled and expired

 

(50)

 

 

3.47

 

 

 

 

 

 

Balance as of December 31, 2017

 

2,666

 

$

3.81

 

6.87

 

$

13,149

 

Granted

 

246

 

 

5.77

 

 

 

 

 

 

Exercised

 

(238)

 

 

2.64

 

 

 

 

 

 

Canceled and expired

 

(20)

 

 

4.40

 

 

 

 

 

 

Balance as of December 31, 2018

 

2,654

 

$

4.09

 

6.28

 

$

2,720

 

Granted

 

430

 

 

3.06

 

 

 

 

 

 

Exercised

 

(113)

 

 

2.37

 

 

 

 

 

 

Canceled and expired

 

(18)

 

 

4.47

 

 

 

 

 

 

Balance as of December 31, 2019

 

2,953

 

$

4.00

 

5.95

 

$

3,040

 

Options vested as of December 31, 2019 and unvested options expected to vest, net of forfeitures

 

2,914

 

$

4.00

 

5.90

 

$

3,001

 

Options exercisable as of December 31, 2019

 

2,169

 

$

3.81

 

4.83

 

$

2,484

 

 

Summary of options outstanding and exercisable by exercise price ranges

The options outstanding and exercisable as of December 31, 2019 were in the following exercise price ranges (in thousands, except per share data):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Options Vested and

 

 

 

 

 

 

 

Options Outstanding as of

 

Exercisable as of

 

 

 

 

 

 

 

December 31, 2019

 

December 31, 2019

 

 

 

 

 

 

 

 

    

 

 

    

Weighted‑average

    

 

    

 

 

 

Range of

 

 

 

Weighted‑average

    

Remaining

 

 

 

Weighted‑Average

 

Exercise Price

 

Shares

 

Exercise Price

    

Contractual Life

 

Shares

 

Exercise Price

 

$
2.14

-

$

2.14

 

11

 

$

2.14

 

4.33

 

11

 

$

2.14

 

$
2.18

-

$

2.18

 

540

 

$

2.18

 

5.84

 

540

 

$

2.18

 

$
2.29

-

$
2.36

 

358

 

$

2.32

 

4.15

 

358

 

$

2.32

 

$
2.47

-

$

2.91

 

342

 

$

2.71

 

3.97

 

341

 

$

2.71

 

$
3.06

-

$

3.06

 

430

 

$

3.06

 

9.85

 

 —

 

$

 —

 

$
4.79

-

$

4.79

 

129

 

$

4.79

 

1.82

 

129

 

$

4.79

 

$
5.21

-

$

5.21

 

471

 

$

5.21

 

6.82

 

370

 

$

5.21

 

$
5.61

-

$

5.77

 

325

 

$

5.73

 

7.21

 

146

 

$

5.68

 

$
5.83

-

$

7.95

 

223

 

$

6.41

 

2.34

 

207

 

$

6.29

 

$
9.50

-

$

9.50

 

124

 

$

9.50

 

7.82

 

67

 

$

9.50

 

 

 

 

 

 

 

2,953

 

$

4.00

 

5.95

 

2,169

 

$

3.81

 

 

Summary of restricted stock awards activity

A summary of activity related to restricted stock awards for the years ended December 31, 2017, 2018 and 2019 is presented below (in thousands, except per share data):

 

 

 

 

 

 

 

 

    

 

    

Weighted-Average

 

 

 

 

 

Grant Date

 

Stock Awards

    

Shares

    

Fair Value

 

Non-vested as of January 1, 2017

 

325

 

$

3.27

 

Granted

 

312

 

$

9.15

 

Vested

 

(157)

 

$

3.13

 

Forfeited

 

 —

 

$

 —

 

Non-vested as of  December 31, 2017

 

480

 

$

7.13

 

Granted

 

344

 

$

6.02

 

Vested

 

(181)

 

$

6.04

 

Forfeited

 

(10)

 

$

6.65

 

Non-vested as of December 31, 2018

 

633

 

$

6.85

 

Granted

 

554

 

$

3.60

 

Vested

 

(228)

 

$

6.46

 

Forfeited

 

(20)

 

$

7.16

 

Non-vested as of December 31, 2019

 

939

 

$

5.02

 

 

Summary of common stock reserved for future issuance

The following number of shares of common stock were reserved and available for future issuance as of December 31, 2019 (in thousands, except per share data):

 

 

 

 

Options outstanding

    

2,953

 

Restricted stock awards outstanding

 

939

 

Stock available for future grant: 2015 Equity Incentive Plan

 

1,048

 

Total

 

4,940