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Stock-Based Compensation (Tables)
9 Months Ended
Sep. 30, 2020
Stock-Based Compensation  
Schedule of warrant activity

    

    

    

Weighted-

    

Weighted-

Average

Average

Remaining

Aggregate

Number of

Exercise

Contractual

Intrinsic

Shares

Price/Share

Term (Years)

Value (1)

Outstanding — December 31, 2019

 

1,001,028

$

3.83

 

  

 

  

Issued

 

 

 

  

 

  

Exercised

 

(963,149)

 

3.80

 

  

 

  

Expired

 

(37,879)

 

4.58

 

  

 

  

Outstanding — September 30, 2020

 

$

 

$

Vested (exercisable) — September 30, 2020

 

$

 

$

(1)Aggregate intrinsic value represents the difference between the exercise price of the warrant and the closing market price of our common stock on September 30, 2020, which was $47.40 per share.
Schedule of fair value assumptions of stock options

    

    

Expected life (years)

5.3 – 6.3

Risk-free interest rate

 

0.3% -1.7

%  

Volatility

69.8% – 82.3

%  

Dividend yield

 

0

%  

Schedule of share-based payment awards

Total stock-based compensation expense related to all of our share-based payment awards is comprised of the following:

Three Months Ended September 30, 

Nine Months Ended September 30, 

    

2020

    

2019

    

2020

    

2019

Cost of revenues

$

85,784

$

522,377

$

237,273

$

687,129

General and administrative

 

1,514,678

 

7,432,609

 

4,032,315

 

9,716,732

Sales and marketing

 

628,076

 

3,803,687

 

1,597,723

 

4,586,015

Engineering and development

 

204,132

 

976,876

 

487,235

 

1,151,163

$

2,432,670

$

12,735,549

$

6,354,546

$

16,141,039

Schedule of stock option activity

A summary of stock option activity is as follows:

    

    

    

Weighted-

    

Weighted-

Average

Average

Remaining

Aggregate

Number of

Exercise

Contractual

Intrinsic

Shares

Price/Share

Term (Years)

Value (1)

Outstanding — December 31, 2019

 

6,679,581

$

7.14

 

  

 

  

Granted (weighted-average fair value of $11.88 per share)

1,675,300

18.57

  

Exercised

 

(678,488)

 

6.90

 

  

 

Forfeited

 

(45,011)

 

10.17

 

  

 

Expired

 

(2,084)

 

20.49

 

  

 

Outstanding — September 30, 2020

 

7,629,298

$

9.65

 

6.8

$

288,091,500

Vested (exercisable) — September 30, 2020

 

5,819,639

$

7.06

 

6.1

$

234,778,400

Expected to vest after September 30, 2020 (unexercisable)

 

1,809,659

$

17.97

 

9.4

$

53,249,600

(1)Aggregate intrinsic value represents the difference between the exercise price of the option and the closing market price of our common stock on September 30, 2020, which was $47.40 per share.