Stock-based Awards

3 Months Ended

Mar. 31, 2020

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, 2020 is as follows:

	Number of Options	Weighted-Average Exercise Price		Weighted-Average Remaining Contractual Life
				(in years)
Outstanding at December 31, 2019	10,625,980	$	11.22	5.2
Granted	1,713,111	2.66
Exercised	(3,166)	0.83
Forfeited/expired	(284,405)	12.04
Outstanding at March 31, 2020	12,051,520	$	9.99	5.6

At March 31, 2020, total remaining stock-based compensation expense for unvested stock option awards was $12.5 million, which is expected to be recognized over a weighted-average period of 2.4 years. For the three months ended March 31, 2020 and 2019, the Company recorded stock-based compensation expense for stock option awards of $1.6 million and $3.1 million, respectively.

Restricted Stock Units

Activity in connection with restricted stock units is as follows for the three months ended March 31, 2020:

	Number of Shares	Weighted- Average Grant Date Fair Value
Non-vested — December 31, 2019	5,890,992	$	7.96
Granted	5,158,799	2.79
Vested	(523,484)	8.76
Forfeited	(343,173)	8.17
Non-vested — March 31, 2020	10,183,134	$	5.30

At March 31, 2020, total remaining stock-based compensation expense for non-vested restricted stock units was $50.5 million, which is expected to be recognized over a weighted-average period of 2.6 years. The Company recorded $4.6 million and $5.5 million in stock-based compensation expense for restricted stock units for the three months ended March 31, 2020 and 2019, 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 condensed consolidated statements of comprehensive loss (in thousands):

	Three Months Ended March 31,
	2020		2019
Cost of revenue	$	399	$	499
Sales and marketing	2,256		3,472
Technology and development	1,280		1,946
General and administrative	2,242		2,718
Total stock-based compensation expense	6,177		8,635
Amount capitalized to internal software use	382		473
Total stock-based compensation cost	$	6,559	$	9,108