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Shareholders' Equity (Tables)
9 Months Ended
Sep. 30, 2019
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 September 30,

 

 

Nine Months Ended September 30,

 

 

 

2019

 

 

2018

 

 

2019

 

 

2018

 

Dividend yield

 

 

0

%

 

 

0

%

 

 

0

%

 

 

0

%

Expected life

 

5.6 years

 

 

4.4 years

 

 

5.8 years

 

 

5.3 years

 

Expected volatility

 

 

64

%

 

 

56

%

 

 

64

%

 

 

55

%

Risk-free interest rate

 

 

1.6

%

 

 

2.7

%

 

 

2.1

%

 

 

2.5

%

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 September 30,

 

 

Nine Months Ended September 30,

 

 

 

2019

 

 

2018

 

 

2019

 

 

2018

 

Cost of revenue — Edge to Cloud

 

$

1

 

 

$

11

 

 

$

10

 

 

$

30

 

Selling, general and administrative

 

 

175

 

 

 

237

 

 

 

373

 

 

 

421

 

Research and development

 

 

12

 

 

 

57

 

 

 

(12

)

 

 

169

 

Total stock-based compensation expense

 

$

188

 

 

$

305

 

 

$

371

 

 

$

620

 

Per diluted share

 

$

0.01

 

 

$

0.02

 

 

$

0.03

 

 

$

0.05

 

Summary of Stock Option Activity

The following table summarizes stock option activity under the Plans:

 

 

 

 

 

 

 

 

 

 

 

Weighted

Average

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Remaining

 

 

 

 

 

 

 

Number of

 

 

Weighted

Average

 

 

Contractual

Life

 

 

Aggregate

 

 

 

Shares

 

 

Exercise Price

 

 

(in years)

 

 

Intrinsic Value

 

Balance at December 31, 2018

 

 

1,390,012

 

 

$

4.77

 

 

 

6.83

 

 

$

 

Granted

 

 

933,423

 

 

 

1.70

 

 

 

 

 

 

 

 

 

Exercised

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Forfeited

 

 

(218,889

)

 

 

4.98

 

 

 

 

 

 

 

 

 

Expired

 

 

(467,490

)

 

 

5.00

 

 

 

 

 

 

 

 

 

Balance at September 30, 2019

 

 

1,637,056

 

 

$

2.93

 

 

 

7.67

 

 

$

505

 

Vested and expected to vest at September 30, 2019

 

 

1,349,818

 

 

$

3.17

 

 

 

7.28

 

 

$

343

 

Exercisable at September 30, 2019

 

 

596,324

 

 

$

4.69

 

 

 

4.67

 

 

$

 

Summary of Certain Additional Information about Stock Options The following table summarizes certain information about stock options:

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

 

2019

 

 

2018

 

 

2019

 

 

2018

 

Weighted average grant-date fair value of options granted during the period

 

$

1.23

 

 

$

1.02

 

 

$

1.70

 

 

$

1.89

 

Options in-the-money (in shares)

 

 

 

 

 

26,000

 

 

 

 

 

 

26,000

 

Aggregate intrinsic value of options exercised during the period

 

$

 

 

$

 

 

$

 

 

$

1,853

 

 

Summary of Restricted Stock Unit Activity

The following table summarizes RSU activity under the Plans:

 

 

 

Number of

 

 

Weighted Average

 

 

 

Shares

 

 

Award Price

 

Unvested at December 31, 2018

 

 

186,516

 

 

$

2.88

 

Granted

 

 

225,693

 

 

 

1.44

 

Vested

 

 

(204,679

)

 

 

2.19

 

Forfeited

 

 

(34,643

)

 

 

4.68

 

Unvested at September 30, 2019

 

 

172,887

 

 

$

1.46

 

Expected to vest after September 30, 2019

 

 

159,795

 

 

$

1.46

 

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 September 30, 2019:

 

 

 

September 30, 2019

 

Stock options outstanding

 

 

1,637,056

 

Restricted stock units outstanding

 

 

172,887

 

Stock options and restricted stock units available for future grant

 

 

1,637,806

 

Common stock reserved for future issuance

 

 

3,447,749