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Shareholders' Equity (Tables)
6 Months Ended
Jun. 30, 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

June 30,

 

 

Six Months Ended

June 30,

 

 

2016

 

 

2015

 

 

2016

 

 

2015

 

Dividend yield

 

0

%

 

 

0

%

 

 

0

%

 

 

0

%

Expected life

3.4 years

 

 

3.3 years

 

 

3.4 years

 

 

3.3 years

 

Expected volatility

 

55

%

 

 

52

%

 

 

55

%

 

 

52

%

Risk-free interest rate

 

1.1

%

 

 

1.3

%

 

 

1.1

%

 

 

1.2

%

 

Stock-Based Compensation Expense

The impact on our results of operations from stock-based compensation expense was as follows (in thousands, except per share amounts):

 

 

Three Months Ended

June 30,

 

 

Six Months Ended

June 30,

 

 

2016

 

 

2015

 

 

2016

 

 

2015

 

Cost of revenue — service

$

36

 

 

$

105

 

 

$

173

 

 

$

218

 

Selling, general and administrative

 

150

 

 

 

182

 

 

 

357

 

 

 

320

 

Research and development

 

29

 

 

 

18

 

 

 

98

 

 

 

31

 

Total stock-based compensation expense

$

215

 

 

$

305

 

 

$

628

 

 

$

569

 

Per diluted share

$

0.02

 

 

$

0.02

 

 

$

0.05

 

 

$

0.05

 

 

Summary of Stock Option Activity

The following table summarizes stock option activity under the Plans for the six-month period ended June 30, 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

 

 

176,075

 

 

 

5.80

 

 

 

 

 

 

 

 

 

Exercised

 

 

(124,176

)

 

 

2.86

 

 

 

 

 

 

 

 

 

Forfeited

 

 

(313,148

)

 

 

5.22

 

 

 

 

 

 

 

 

 

Expired

 

 

(878

)

 

 

5.23

 

 

 

 

 

 

 

 

 

Balance at June 30, 2016

 

 

1,516,570

 

 

$

4.56

 

 

 

6.71

 

 

$

2,028,252

 

Vested and expected to vest at June 30, 2016

 

 

1,445,567

 

 

$

4.50

 

 

 

6.61

 

 

$

1,999,111

 

Exercisable at June 30, 2016

 

 

806,776

 

 

$

3.73

 

 

 

4.95

 

 

$

1,558,756

 

 

Summary of Certain Information about Stock Options

The following table summarizes certain information about stock options:

 

 

Three Months Ended

June 30,

 

 

Six Months Ended

June 30,

 

 

2016

 

 

2015

 

 

2016

 

 

2015

 

Weighted-average grant-date fair value of option

   grants for the period

$

2.87

 

 

$

1.88

 

 

$

3.05

 

 

$

1.92

 

Options in-the-money at period end

 

948,745

 

 

 

1,390,199

 

 

 

948,745

 

 

 

1,390,199

 

Aggregate intrinsic value of options exercised

$

310,756

 

 

$

302,895

 

 

$

360,086

 

 

$

350,776

 

 

Summary of Restricted Stock Unit Activity

The following table summarizes RSU activity for the six-month period ended June 30, 2016:

 

  

Number of

Shares

 

 

Weighted

Average

Grant Date Fair

Value

 

Unvested at January 1, 2016

 

104,463

 

 

$

5.97

 

Granted

 

41,429

 

 

 

5.78

 

Vested

 

(29,147

)

 

 

6.11

 

Forfeited

 

(15,969

)

 

 

5.77

 

Unvested at June 30, 2016

 

100,776

 

 

$

5.89

 

Expected to vest after June 30, 2016

 

91,667

 

 

$

5.87

 

 

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 June 30, 2016:

 

Stock options outstanding

 

1,516,570

 

RSUs outstanding

 

100,776

 

Stock awards available for future grant

 

1,132,968

 

Common stock reserved for future issuance

 

2,750,314