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Share-Based Compensation (Tables)
9 Months Ended
Sep. 30, 2020
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Summary of Share-Based Compensation Expense

The amount of share-based compensation expense recognized by the Company by location in its statements of operations for the three and nine months ended September 30, 2020 and 2019 is as follows (in thousands):

 

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

 

2020

 

 

2019

 

 

2020

 

 

2019

 

Cost of revenues

 

$

17

 

 

$

18

 

 

$

48

 

 

$

47

 

Sales and marketing

 

 

370

 

 

 

368

 

 

 

1,036

 

 

 

976

 

General and administrative

 

 

572

 

 

 

429

 

 

 

1,440

 

 

 

1,126

 

Research and development

 

 

87

 

 

 

119

 

 

 

364

 

 

 

309

 

Total

 

$

1,046

 

 

$

934

 

 

$

2,888

 

 

$

2,458

 

Summary of Stock Option Activity

The following table summarizes the Company’s stock option activity for the nine months ended September 30, 2020:

 

 

 

Number of

Shares under

Option

(in thousands)

 

 

Weighted-

average

Exercise Price

per Option

 

 

Weighted-

average

Remaining

Contractual

Life (in years)

 

 

Aggregate

Intrinsic

Value

(in thousands)

 

Outstanding at December 31, 2019

 

 

2,415

 

 

$

7.11

 

 

 

 

 

 

 

 

 

Granted

 

 

1,029

 

 

$

2.01

 

 

 

 

 

 

 

 

 

Exercised

 

 

(230

)

 

$

2.32

 

 

 

 

 

 

 

 

 

Forfeited

 

 

(620

)

 

$

10.74

 

 

 

 

 

 

 

 

 

Outstanding at September 30, 2020

 

 

2,594

 

 

$

4.64

 

 

 

7.0

 

 

$

5,535

 

Exercisable at September 30, 2020

 

 

1,850

 

 

$

4.79

 

 

 

4.1

 

 

$

2,495

 

Vested and expected to vest at September 30, 2020

 

 

2,594

 

 

$

4.64

 

 

 

7.0

 

 

$

5,535

 

Summary of Weighted-average Inputs and Assumptions used to Estimate Grant-date Fair Value of Stock Options

For the nine months ended September 30, 2020, the grant-date fair value of stock options was estimated at the time of grant using the following weighted-average inputs and assumptions in the Black-Scholes option pricing model:

 

Estimated fair value of common stock

 

$

2.01

 

Exercise price

 

$

2.01

 

Expected term (in years)

 

 

6.1

 

Risk-free interest rate

 

 

0.38

%

Expected volatility

 

 

55.3

%

Dividend yield

 

 

0

%

Summary of Restricted Stock Award and Restricted Stock Unit Activity

The following table summarizes the Company’s restricted stock award and restricted stock unit activity for the nine months ended September 30, 2020:

 

 

 

Non-vested

Restricted

Stock Units

(in thousands)

 

 

Weighted-

average

Grant-date

Fair Value

 

Non-vested at December 31, 2019

 

 

245

 

 

$

15.23

 

Granted

 

 

2,155

 

 

$

3.05

 

Vested

 

 

(87

)

 

$

14.13

 

Forfeited

 

 

(463

)

 

$

5.22

 

Non-vested at September 30, 2020

 

 

1,850

 

 

$

3.60