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Equity Incentive Plans (Tables)
12 Months Ended
Dec. 31, 2017
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Summary of Stock Option Activity Under 2007 Plan, 2011 Plan and 2016 Plan

Stock option activity under the 2016 Plan, 2011 Plan and the 2007 Plan during the year ended December 31, 2017 was as follows (in thousands, except per share and contractual life data):

 

 

 

 

 

 

 

 

 

 

 

Weighted-

 

 

 

 

 

 

 

 

 

 

 

Weighted-

 

 

Average

 

 

 

 

 

 

 

 

 

 

 

Average

 

 

Remaining

 

 

Total

 

 

 

Options

 

 

Exercise Price

 

 

Contractual

 

 

Intrinsic

 

 

 

Outstanding

 

 

per Share

 

 

Life (years)

 

 

Value

 

Outstanding at December 31, 2016

 

 

11,203

 

 

$

9.49

 

 

 

 

 

 

 

 

 

Options granted

 

 

451

 

 

 

16.97

 

 

 

 

 

 

 

 

 

Options exercised

 

 

(3,339

)

 

 

6.56

 

 

 

 

 

 

 

 

 

Options forfeited or canceled

 

 

(825

)

 

 

13.84

 

 

 

 

 

 

 

 

 

Outstanding at December 31, 2017

 

 

7,490

 

 

$

10.76

 

 

 

6.41

 

 

$

95,553

 

Vested and expected to vest at December 31, 2017

 

 

7,410

 

 

$

10.71

 

 

 

6.39

 

 

$

94,925

 

Exercisable at December 31, 2017

 

 

4,935

 

 

$

8.74

 

 

 

5.53

 

 

$

72,930

 

 

Schedule of Fair Value of Stock Option Granted Estimated the Date of Granting Using Black-Scholes Option Pricing Model

The fair value of stock options granted was estimated on the date of grant using the Black-Scholes option pricing model with the following assumptions:

 

 

 

 

 

 

 

 

 

 

Years Ended December 31,

 

 

 

2017

 

 

2016

 

 

2015

 

 

 

 

 

 

 

 

 

Dividend yield

 

 

0.0%

 

 

 

0.0%

 

 

 

0.0%

 

Risk-free interest rate

 

1.8% - 2.1%

 

 

1.1% - 2.1%

 

 

1.3% - 2.0%

 

Expected life

 

4.1 - 5.6

 

 

5.6 - 7.9

 

 

5.0 - 6.1

 

Expected volatility

 

33.3% - 35.4%

 

 

37.4% - 42.4%

 

 

38.9% - 47.0%

 

 

Summary of RSU Activity Under 2016 Plan

RSU activity under the 2016 Plan during the year ended December 31, 2017 was as follows (in thousands, except per share data):

 

 

 

 

 

 

 

Weighted-Average

 

 

 

RSUs

 

 

Grant Date Fair Value

 

 

 

Outstanding

 

 

per Share

 

Non-Vested outstanding at December 31, 2016

 

 

628

 

 

$

16.43

 

Granted

 

 

1,741

 

 

 

15.97

 

Vested

 

 

(128

)

 

 

16.46

 

Forfeited or canceled

 

 

(211

)

 

 

15.27

 

Non-Vested outstanding at December 31, 2017

 

 

2,030

 

 

$

16.15

 

 

 

 

 

 

 

 

 

 

 

Schedule of Fair Value of Common Shares to be Issued Under the 2016 ESPP

There were 311,742 shares of Class A common stock issued under the 2016 ESPP. For the years ended December 31, 2017 and 2016, the fair value of common shares to be issued under the 2016 ESPP was estimated using the Black-Scholes option pricing model with the following assumptions:

 

 

 

Years Ended December 31,

 

 

 

 

2017

 

 

2016

 

 

 

 

 

 

 

 

 

 

 

 

Dividend yield

 

0.0%

 

 

0.0%

 

 

Risk-free interest rate

 

1.07% - 1.45%

 

 

0.6%

 

 

Expected life

 

 

0.50

 

 

 

0.56

 

 

Expected volatility

 

27.0% - 44.3%

 

 

33.9%

 

 

 

Summary of Stock Based Compensation Expenses

 

Stock-based compensation expense recognized in the Company’s statement of comprehensive loss was as follows (in thousands):

 

 

 

 

 

 

 

 

 

 

 

Years Ended December 31,

 

 

 

2017

 

 

2016

 

 

2015

 

Cost of revenue

 

 

 

 

 

 

 

 

 

 

 

 

Subscription

 

$

1,218

 

 

$

891

 

 

$

482

 

Professional services

 

 

1,131

 

 

 

820

 

 

 

738

 

Operating expenses

 

 

 

 

 

 

 

 

 

 

 

 

Research and development

 

 

4,491

 

 

 

2,977

 

 

 

2,283

 

Sales and marketing

 

 

4,614

 

 

 

3,132

 

 

 

2,477

 

General and administrative

 

 

4,616

 

 

 

2,639

 

 

 

1,835

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total stock-based compensation

 

$

16,070

 

 

$

10,459

 

 

$

7,815