Stock-based Awards

3 Months Ended

Mar. 31, 2019

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 three months ended March 31, 2019 is as follows:

	Number of Options		Weighted-Average Exercise Price		Weighted-Average Remaining Contractual Life
					(in years)
Outstanding at December 31, 2018	14,114,651		$	12.32	7.0
Granted	1,307,779		7.61
Exercised	(345,913	)	8.11
Forfeited/expired	(1,111,221	)	13.30
Outstanding at March 31, 2019	13,965,296		$	11.91	7.0

At March 31, 2019, total remaining stock-based compensation expense for unvested stock option awards was $32.1 million, which is expected to be recognized over a weighted-average period of 2.5 years. For the three months ended March 31, 2019 and 2018, the Company recorded stock-based compensation expense for stock option awards of $3.1 million and $4.6 million, respectively.

Restricted Stock Units

Activity in connection with restricted stock units is as follows for the three months ended March 31, 2019:

	Number of Shares		Weighted- Average Grant Date Fair Value
Non-vested — December 31, 2018	5,375,963		$	11.01
Granted	3,361,668		7.10
Vested	(505,104	)	10.48
Forfeited	(623,122	)	10.84
Non-vested — March 31, 2019	7,609,405		$	9.33

At March 31, 2019, total remaining stock-based compensation expense for non-vested restricted stock units is $68.2 million, which is expected to be recognized over a weighted-average period of 2.8 years. The Company recorded $5.5 million and $4.4 million in stock-based compensation expense for restricted stock units for the three months ended March 31, 2019 and 2018, respectively.

Stock-based Compensation Cost

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

	Three Months Ended   March 31,
	2019		2018
Cost of revenue	$	499	$	298
Sales and marketing	3,472		3,127
Technology and development	1,946		2,353
General and administrative	2,718		3,319
Total stock-based compensation expense	8,635		9,097
Amount capitalized to internal software use	473		334
Total stock-based compensation cost	$	9,108	$	9,431