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Shareholders' Equity (Tables)
3 Months Ended
Mar. 31, 2017
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,

 

 

2017

 

 

2016

 

Dividend yield

 

0

%

 

 

0

%

Expected life

3.3 years

 

 

3.4 years

 

Expected volatility

 

53

%

 

 

55

%

Risk-free interest rate

 

1.7

%

 

 

1.1

%

 

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

March 31,

 

 

2017

 

 

2016

 

Cost of revenue — service

$

65

 

 

$

138

 

Selling, general and administrative

 

284

 

 

 

249

 

Research and development

 

50

 

 

 

26

 

Total stock-based compensation expense

$

399

 

 

$

413

 

Per diluted share

$

0.03

 

 

$

0.03

 

 

Summary of Stock Option Activity

The following table summarizes stock option activity under the Plans for the three-month period ended March 31, 2017:

 

Stock Options

 

Number of

Shares

 

 

Weighted

Average

Exercise

Price

 

 

Weighted

Average

Remaining

Contractual

Life

(in years)

 

 

Aggregate

Intrinsic

Value

 

Balance at January 1, 2017

 

 

1,846,768

 

 

$

4.84

 

 

 

8.19

 

 

$

2,138,361

 

Granted

 

 

39,500

 

 

 

5.59

 

 

 

 

 

 

 

 

 

Exercised

 

 

(21,412

)

 

 

4.11

 

 

 

 

 

 

 

 

 

Forfeited

 

 

(32,130

)

 

 

5.09

 

 

 

 

 

 

 

 

 

Expired

 

 

(4,573

)

 

 

5.89

 

 

 

 

 

 

 

 

 

Balance at March 31, 2017

 

 

1,828,153

 

 

$

4.86

 

 

 

8.06

 

 

$

1,513,726

 

Vested and expected to vest at March 31, 2017

 

 

1,677,043

 

 

$

4.81

 

 

 

7.94

 

 

$

1,473,638

 

Exercisable at March 31, 2017

 

 

815,565

 

 

$

4.20

 

 

 

6.64

 

 

$

1,200,208

 

 

Summary of Certain Information about Stock Options

The following table summarizes certain information about stock options:

 

 

Three Months Ended

March 31,

 

 

2017

 

 

2016

 

Weighted-average grant-date fair value of option

   grants for the period

$

3.01

 

 

$

3.06

 

Options in-the-money at period end

 

1,224,182

 

 

 

1,338,733

 

Aggregate intrinsic value of options exercised

$

40,421

 

 

$

49,330

 

 

Summary of Restricted Stock Unit Activity

The following table summarizes RSU activity for the three-month period ended March 31, 2017:

 

  

Number of

Shares

 

 

Weighted

Average

Grant Date Fair

Value

 

Unvested at January 1, 2017

 

119,606

 

 

$

5.60

 

Granted

 

 

 

 

 

Vested

 

(15,839

)

 

 

5.72

 

Forfeited

 

 

 

 

 

Unvested at March 31, 2017

 

103,767

 

 

$

5.58

 

Expected to vest after March 31, 2017

 

89,585

 

 

$

5.60

 

 

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, 2017:

 Stock options outstanding

 

1,828,153

 

RSUs outstanding

 

103,767

 

Stock awards available for future grant

 

686,363

 

Common stock reserved for future issuance

 

2,618,283