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

June 30,

 

 

Six Months Ended

June 30,

 

 

2017

 

 

2016

 

 

2017

 

 

2016

 

Dividend yield

 

0

%

 

 

0

%

 

 

0

%

 

 

0

%

Expected life

3.3 years

 

 

3.4 years

 

 

3.3 years

 

 

3.4 years

 

Expected volatility

 

52

%

 

 

55

%

 

 

53

%

 

 

55

%

Risk-free interest rate

 

1.6

%

 

 

1.1

%

 

 

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

June 30,

 

 

Six Months Ended

June 30,

 

 

2017

 

 

2016

 

 

2017

 

 

2016

 

Cost of revenue — service

$

20

 

 

$

36

 

 

$

85

 

 

$

173

 

Selling, general and administrative

 

320

 

 

 

150

 

 

 

604

 

 

 

357

 

Research and development

 

71

 

 

 

29

 

 

 

121

 

 

 

98

 

Total stock-based compensation expense

$

411

 

 

$

215

 

 

$

810

 

 

$

628

 

Per diluted share

$

0.03

 

 

$

0.02

 

 

$

0.06

 

 

$

0.05

 

 

Summary of Stock Option Activity

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

 

 

89,125

 

 

 

5.33

 

 

 

 

 

 

 

 

 

Exercised

 

 

(30,079

)

 

 

3.82

 

 

 

 

 

 

 

 

 

Forfeited

 

 

(48,550

)

 

 

5.24

 

 

 

 

 

 

 

 

 

Expired

 

 

(25,445

)

 

 

5.56

 

 

 

 

 

 

 

 

 

Balance at June 30, 2017

 

 

1,831,819

 

 

$

4.86

 

 

 

7.96

 

 

$

1,755,761

 

Vested and expected to vest at June 30, 2017

 

 

1,694,577

 

 

$

4.82

 

 

 

7.86

 

 

$

1,700,861

 

Exercisable at June 30, 2017

 

 

838,272

 

 

$

4.25

 

 

 

6.65

 

 

$

1,334,204

 

 

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,

 

 

2017

 

 

2016

 

 

2017

 

 

2016

 

Weighted-average grant-date fair value of option

   grants for the period

$

2.64

 

 

$

2.87

 

 

$

2.80

 

 

$

3.05

 

Options in-the-money at period end

 

1,755,762

 

 

 

948,745

 

 

 

1,755,762

 

 

 

948,745

 

Aggregate intrinsic value of options exercised

$

17,412

 

 

$

310,756

 

 

$

57,833

 

 

$

360,086

 

 

Summary of Restricted Stock Unit Activity

The following table summarizes RSU activity for the six months ended June 30, 2017:

 

  

Number of

Shares

 

 

Weighted

Average

Grant Date Fair

Value

 

Unvested at January 1, 2017

 

119,606

 

 

$

5.60

 

Granted

 

61,409

 

 

 

4.89

 

Vested

 

(30,635

)

 

 

5.76

 

Forfeited

 

 

 

 

 

Unvested at June 30, 2017

 

150,380

 

 

$

5.28

 

Expected to vest after June 30, 2017

 

134,077

 

 

$

5.28

 

 

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, 2017:

 

Stock options outstanding

 

1,831,819

 

RSUs outstanding

 

150,380

 

Stock awards available for future grant

 

1,312,621

 

Common stock reserved for future issuance

 

3,294,820