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Shareholders' Equity (Tables)
3 Months Ended
Mar. 31, 2016
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Fair Values of Stock Option Grants Estimated with Weighted Average Assumptions

The fair values of our stock option grants were estimated with the following weighted average assumptions:

 

 

Three Months Ended

March 31,

 

 

2016

 

 

2015

 

Dividend yield

 

0

%

 

 

0

%

Expected life

3.4 years

 

 

3.3 years

 

Expected volatility

 

55

%

 

 

53

%

Risk-free interest rate

 

1.1

%

 

 

1.2

%

 

Stock-Based Compensation Expense

The impact on our results of operations of stock-based compensation expense for the three month periods ended March 31, 2016 and 2015 was as follows (in thousands, except per share amounts):

 

 

Three Months Ended

March 31,

 

 

2016

 

 

2015

 

Cost of revenue — service

$

138

 

 

$

113

 

Selling, general and administrative

 

249

 

 

 

138

 

Research and development

 

26

 

 

 

13

 

Total stock-based compensation expense

$

413

 

 

$

264

 

Per diluted share

$

0.03

 

 

$

0.02

 

 

Summary of Stock Option Activity

The following table summarizes stock option activity under the Plans for the three month period ended March 31, 2016:

 

Stock Options

 

Number of

Shares

 

 

Weighted

Average

Exercise

Price

 

 

Weighted

Average

Remaining

Contractual

Life

(in years)

 

 

Aggregate

Intrinsic

Value

 

Balance at January 1, 2016

 

 

1,778,697

 

 

$

4.43

 

 

 

 

 

 

 

 

 

Granted

 

 

168,775

 

 

 

5.82

 

 

 

 

 

 

 

 

 

Exercised

 

 

(19,081

)

 

 

3.14

 

 

 

 

 

 

 

 

 

Forfeited

 

 

(15,843

)

 

 

5.79

 

 

 

 

 

 

 

 

 

Expired

 

 

(390

)

 

 

4.30

 

 

 

 

 

 

 

 

 

Balance at March 31, 2016

 

 

1,912,158

 

 

$

4.56

 

 

 

7.79

 

 

$

2,918,097

 

Vested and expected to vest at March 31, 2016

 

 

1,776,293

 

 

$

4.47

 

 

 

7.68

 

 

$

2,845,908

 

Exercisable at March 31, 2016

 

 

838,549

 

 

$

3.62

 

 

 

6.23

 

 

$

1,964,768

 

 

Summary of Certain Information about Stock Options

The following table summarizes certain information about stock options:

 

 

Three Months Ended

March 31,

 

 

2016

 

 

2015

 

Weighted-average grant-date fair value of option

   grants for the period

$

3.06

 

 

$

2.34

 

Options in-the-money at period end

 

1,338,733

 

 

 

1,353,633

 

Aggregate intrinsic value of options exercised

$

49,330

 

 

$

47,880

 

 

Summary of Restricted Stock Unit Activity

The following table summarizes RSU activity for the three month period ended March 31, 2016:

 

 

Number of

Shares

 

 

Weighted

Average

Grant Date Fair

Value

 

Unvested at January 1, 2016

 

104,463

 

 

$

5.97

 

Granted

 

2,500

 

 

 

5.83

 

Vested

 

(13,408

)

 

 

6.19

 

Forfeited

 

 

 

 

 

Unvested at March 31, 2016

 

93,555

 

 

$

5.94

 

Expected to vest after March 31, 2016

 

83,054

 

 

$

5.91

 

 

Summary of Shares of Common Stock Reserved for Future Issuance under Plans

The following table summarizes our shares of common stock reserved for future issuance under the Plans as of March 31, 2016:

 

Stock options outstanding

 

1,912,158

 

RSUs outstanding

 

93,555

 

Stock awards available for future grant

 

865,435

 

Common stock reserved for future issuance

 

2,871,148