Stock-based Awards

6 Months Ended

Jun. 30, 2020

Share-based Payment Arrangement [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, 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	(1,596,381)	12.28
Outstanding at June 30, 2020	10,739,544	$	9.70	5.3

At June 30, 2020, total remaining stock-based compensation expense for unvested stock option awards was $9.5 million, which is expected to be recognized over a weighted-average period of 2.3 years. For the three months ended June 30, 2020 and 2019, the Company recorded stock-based compensation expense for stock option awards of $1.5 million and $6.9 million, respectively. For the six months ended June 30, 2020 and 2019, the Company recorded stock-based compensation expense for stock option awards of $3.1 million and $10.0 million, respectively.

Restricted Stock Units

Activity in connection with restricted stock units is as follows for the six months ended June 30, 2020:

	Number of Shares	Weighted- Average Grant Date Fair Value
Non-vested — December 31, 2019	5,890,992	$	7.96
Granted	5,652,422	2.77
Vested	(1,598,585)	6.89
Forfeited	(1,338,505)	7.43
Non-vested — June 30, 2020	8,606,324	$	4.83

At June 30, 2020, total remaining stock-based compensation expense for non-vested restricted stock units was $38.9 million, which is expected to be recognized over a weighted-average period of 2.4 years. The Company recorded $5.0 million and $8.7 million in stock-based compensation expense for restricted stock units for the three months ended June 30, 2020 and 2019, respectively. The Company recorded $9.6 million and $14.2 million in stock-based compensation expense for restricted stock units for the six months ended June 30, 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 June 30,				Six Months Ended June 30,
	2020		2019		2020		2019
Cost of revenue	$	211	$	553	$	618	$	1,052
Sales and marketing	2,388		4,716		4,644		8,188
Technology and development	1,361		3,463		2,633		5,409
General and administrative	2,494		6,824		4,736		9,542
Total stock-based compensation expense	6,454		15,556		12,631		24,191
Amount capitalized to internal software use	401		505		783		978
Total stock-based compensation cost	$	6,855	$	16,061	$	13,414	$	25,169