Stockholders' Equity (Tables)


	Three Months
	Ended
	March 31,
	2017
	(in thousands)

Stockholders’ equity as of December 31, 2016	$	329,255
Beginning balance adjustment to retained earnings as a result of the adoption of ASU 2016-09		872
Adjusted stockholders' equity as of January 1, 2017		330,127
Net income		893
Accumulated other comprehensive income		466
Issuance of common stock in connection with the Company's equity plans		(2,173)
Share-based compensation expense		4,451
Treasury stock acquired		(8,203)
Stockholders’ equity as of March 31, 2017	$	325,561


	Three Months Ended
	March 31,
	2017		2016
Average volatility	36.7	%	30.2	%
Risk-free interest rate	2.2	%	1.6	%
Weighted-average expected life in years	5.7		5.7
Dividend yield rate	—	%	—	%


				Weighted-Average
		Weighted-Average		Remaining	Aggregate
		Exercise		Contractual	Intrinsic
	Options	Price		Term (Years)	Value(1)
					(in thousands)
Outstanding as of December 31, 2016	12,530,297	$	14.57
Options granted	1,621,222		13.93
Options exercised	(8,063)		11.87
Options cancelled	(9,880)		12.97
Options expired	(6,250)		25.36
Outstanding as of March 31, 2017	14,127,326	$	14.50	4.64	$	20,642
Exercisable as of March 31, 2017	9,409,292	$	14.99	3.09	$	14,611

The aggregate intrinsic value is calculated as the difference between the exercise price of the underlying awards and the estimated fair value of the Company’s common stock for those awards that have an exercise price below the estimated fair value at March 31, 2017.


	Three Months Ended
	March 31,
	2017		2016
	(in thousands, except per share data)
Weighted-average grant date fair value	$	4.87	$	3.37
Intrinsic value of options exercised		24		15
Cash received		96		104
Total fair value of the options vested during the year		4,781		3,259


		Weighted-Average
		Grant Date
	Options	Fair Value
Nonvested as of December 31, 2016	4,592,187	$	3.61
Options granted	1,621,222		4.87
Options vested	(1,485,495)		3.22
Options forfeited	(9,880)		4.51
Nonvested as of March 31, 2017	4,718,034		4.16


		Total Fair Market
		Value of RSUs
		Issued
	Total RSUs	as
	Issued	Compensation(1)
		(in thousands)
RSUs outstanding at December 31, 2016	1,215,786
RSUs granted	589,165	$	7,865
RSUs forfeited	(2,154)
Common stock delivered	(234,328)
RSUs surrendered for taxes	(163,510)
RSUs outstanding at March 31, 2017	1,404,959

The total fair market value is derived from the number of RSUs granted times the current stock price on the date of grant.


	Three Months Ended
	March 31,
	2017		2016
	(in thousands)
Cost of revenues	$	1,131	$	799
Operating expenses:
Selling, distribution, and marketing		84		66
General and administrative		2,783		2,646
Research and development		453		340
Total share-based compensation	$	4,451	$	3,851