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

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Weighted-

    

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Weighted-

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Average

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Average

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Remaining

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Aggregate

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Number of

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Exercise

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Contractual

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Intrinsic

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Shares

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Price/Share

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Term (Years)

​

Value (1)

Outstanding — December 31, 2019

 

1,001,028

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$

3.83

 

  

 

​

  

Issued

 

—

​

 

—

 

  

 

​

  

Exercised

 

(963,149)

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3.80

 

  

 

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Expired

 

(37,879)

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4.58

 

  

 

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Outstanding — September 30, 2020

 

—

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$

—

 

—

​

$

—

Vested (exercisable) — September 30, 2020

 

—

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$

—

 

—

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$

—

(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

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Expected life (years)

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5.3 – 6.3

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Risk-free interest rate

 

0.3% -1.7

%  

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Volatility

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69.8% – 82.3

%  

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Dividend yield

 

0

%  

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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:

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Three Months Ended September 30, 

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Nine Months Ended September 30, 

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​

    

2020

    

2019

    

2020

    

2019

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Cost of revenues

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$

85,784

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$

522,377

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$

237,273

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$

687,129

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General and administrative

​

 

1,514,678

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7,432,609

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4,032,315

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9,716,732

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Sales and marketing

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628,076

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3,803,687

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1,597,723

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4,586,015

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Engineering and development

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204,132

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976,876

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487,235

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1,151,163

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​

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$

2,432,670

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$

12,735,549

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$

6,354,546

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$

16,141,039

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Schedule of stock option activity

A summary of stock option activity is as follows:

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Weighted-

    

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​

Weighted-

​

Average

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​

​

​

​

​

​

Average

​

Remaining

​

Aggregate

​

​

Number of

​

Exercise

​

Contractual

​

Intrinsic

​

​

Shares

​

Price/Share

​

Term (Years)

​

Value (1)

Outstanding — December 31, 2019

 

6,679,581

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$

7.14

 

  

 

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

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1,675,300

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18.57

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Exercised

 

(678,488)

 

​

6.90

 

  

 

​

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Forfeited

 

(45,011)

 

​

10.17

 

  

 

​

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Expired

 

(2,084)

 

​

20.49

 

  

 

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Outstanding — September 30, 2020

 

7,629,298

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$

9.65

 

6.8

​

$

288,091,500

Vested (exercisable) — September 30, 2020

 

5,819,639

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$

7.06

 

6.1

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$

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.