Redeemable Convertible Preferred Stock and Stockholders’ Equity

Redeemable Convertible Preferred Stock—The Company's redeemable convertible preferred stock automatically converted into common stock at a rate of one-for-one on the closing of the Company's IPO on August 2, 2017. As such, no shares of redeemable convertible preferred stock were authorized, issued and outstanding as of June 30, 2018.

Please see Note 6 to the Company's consolidated financial statements in its Annual Report on Form 10-K for the fiscal year ended December 31, 2017 for a description of the terms of the redeemable convertible preferred stock.

Accretion Expense—Accretion represents the increase in the redemption value of the Company’s redeemable convertible preferred stock. The recognized accretion expense related to the increase in the redemption value of the redeemable convertible preferred stock was reclassed upon the successful completion of the IPO, which occurred during 2017.

The following table presents the accretion expense of the redeemable convertible preferred stock to its redemption value recorded within the consolidated statements of changes in redeemable convertible preferred stock and stockholders’ equity during the three and six months ended June 30, 2017:



	Three Months Ended June 30,			Six Months Ended June 30,
	2017

Series A-1	$	(3,085	)	$	(3,785	)
Series A-2	(77		)	(95		)
Series A-3	(6,478		)	(7,843		)
Series B	(25,601		)	(31,052		)
Series C	(23,523		)	(28,531		)
Series D	(20,131		)	(24,417		)
Series E	(8,130		)	(9,936		)
Series F	(12,522		)	(15,643		)
Series G	(11,374		)	(14,388		)
Total	$	(110,921	)	$	(135,690	)

Common Stock—At June 30, 2018 and December 31, 2017, the Company was authorized to issue 500,000,000 shares of common stock with a par value of $0.001 per share.

The Company has reserved shares of common stock, on an as-converted basis, for future issuance as follows:



	June 30, 2018	December 31, 2017

2017 Equity Incentive Plan:
Stock options issued and outstanding	10,775,812	13,180,950
Restricted stock units outstanding	2,010,186	981,276
Shares available for future equity grants	6,273,668	7,026,071
Total	19,059,666	21,188,297

2017 Employee Stock Purchase Plan:
Shares issued under employee stock purchase plan	187,076	0
Shares available for future purchases under employee stock purchase plan	2,227,612	1,600,000
Total	2,414,688	1,600,000

Preferred Stock—As of June 30, 2018 and December 31, 2017, the Company had authorized 10,000,000 shares of preferred stock, par value $0.001, of which no shares were outstanding.