Stock-based Awards

6 Months Ended

Jun. 30, 2017

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Stock based awards

Stock-based Awards

Stock Options

A summary of the Company’s stock option activity for the six months ended June 30, 2017 is as follows:

	Number of Options		Weighted-Average Exercise Price		Weighted-Average Remaining Contractual Life
					(in years)
Outstanding at December 31, 2016	24,541,512		$	8.29	5.49
Granted	4,661,639		18.47
Exercised	(9,596,374	)	5.80
Canceled/forfeited	(620,931	)	8.13
Outstanding at June 30, 2017	18,985,846		$	12.06	7.74

At June 30, 2017, total remaining stock-based compensation expense for unvested stock option awards was $65.0 million, which is expected to be recognized over a weighted-average period of 3.4 years. For each of the three months ended June 30, 2017 and 2016, the Company recorded stock-based compensation expense for stock option awards of $3.7 million. For the six months ended June 30, 2017 and 2016, the Company recorded stock-based compensation expense for stock option awards of $7.0 million and $7.5 million, respectively.

Restricted Stock Units

Activity in connection with restricted stock units is as follows for the six months ended June 30, 2017:

	Number of Shares		Weighted- Average Grant Date Fair Value
Non-vested — December 31, 2016	4,339,320		$	7.85
Granted	1,974,776		18.33
Vested	(764,642	)	8.10
Canceled/forfeited	(230,545	)	7.46
Non-vested — June 30, 2017	5,318,909		$	11.72

At June 30, 2017, total remaining stock-based compensation expense for non-vested restricted stock units is $59.2 million, which is expected to be recognized over a weighted-average period of 3.3 years. The Company recorded $3.2 million and $2.2 million in stock-based compensation expense for restricted stock units for the three months ended June 30, 2017 and 2016, respectively. The Company recorded $5.8 million and $4.3 million in stock-based compensation expense for restricted stock units for the six months ended June 30, 2017 and 2016, respectively.

Stock-based Compensation Cost

The Company recorded stock-based compensation cost relating to stock options and restricted stock awards in the following categories on the accompanying consolidated statements of comprehensive loss (in thousands):

	Three Months Ended   June 30,				Six Months Ended   June 30,
	2017		2016		2017		2016
Cost of revenue	$	233	$	233	$	436	$	455
Sales and marketing	2,160		1,736		3,905		2,499
Technology and development	1,600		746		2,898		1,825
General and administrative	2,853		3,185		5,514		7,013
Total stock-based compensation expense	6,846		5,900		12,753		11,792
Amount capitalized to internal software use	332		223		550		468
Total stock-based compensation cost	$	7,178	$	6,123	$	13,303	$	12,260