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Stock-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2016
Summary of Stock Option Activity

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Options Outstanding

 

 

 

 

 

 

Weighted-

 

Weighted-

 

 

 

 

 

 

 

 

 

Average

 

Average

 

 

 

 

 

Options

 

 

 

Exercise

 

Remaining

 

Aggregate

 

 

Available for

 

Number of

 

Price Per

 

Contractual

 

Intrinsic

 

    

Grant

    

Options

    

Share

    

Life (years)

    

Value

 

 

 

 

 

 

 

 

 

 

 

(In thousands)

Balance—December 31, 2014

 

106,468

 

852,639

 

$

4.42

 

8.0

 

$

-

Options authorized

 

24,956

 

 —

 

 

 

 

  

 

 

  

Options granted

 

(123,830)

 

123,830

 

 

4.50

 

  

 

 

  

Options exercised

 

 —

 

(1,558)

 

 

4.42

 

  

 

$

11

Options cancelled/forfeited

 

47,736

 

(47,736)

 

 

4.42

 

  

 

 

  

Balance—December 31, 2015

 

55,330

 

927,175

 

 

4.43

 

7.3

 

$

6,500

Options authorized

 

785,364

 

 —

 

 

 

 

 

 

 

 

Options granted

 

(563,523)

 

563,523

 

 

13.20

 

 

 

 

 

Options exercised

 

 —

 

(10,639)

 

 

4.43

 

 

 

$

114

Options cancelled/forfeited

 

65,329

 

(65,329)

 

 

4.71

 

 

 

 

 

Balance—December 31, 2016

 

342,500

 

1,414,730

 

 

5.28

 

7.6

 

$

4,267

Options exercisable—December 31, 2016

 

  

 

729,746

 

 

4.52

 

6.1

 

$

2,752

Options vested and expected to vest—December 31, 2016

 

  

 

1,414,732

 

 

5.28

 

7.6

 

$

4,267

 

Summary of Stock-Based Compensation Expense

The Company recognized stock-based compensation expense as follows (in thousands):

 

 

 

 

 

 

 

 

 

 

 

 

Year Ended December 31, 

 

    

2016

    

2015

    

2014

Research and development

 

$

403

 

$

169

 

$

304

General and administrative

 

 

637

 

 

190

 

 

392

Sales and marketing

 

 

101

 

 

57

 

 

103

Total

 

$

1,141

 

$

416

 

$

799

 

Employees  
Schedule of Fair Value Assumptions of Stock Options

 

 

 

 

 

 

 

 

 

 

Year Ended December 31, 

 

 

 

2016

    

2015

    

2014

 

Expected volatility

 

42.6 – 45.3 

%  

44.1 – 48.9

%  

36.4 – 53.2

%

Risk-free interest rate

 

1.12 – 2.26

%  

1.51 – 1.79

%  

0.43 – 2.04

%

Expected term (in years)

 

4.8 – 6.1

 

5.6 – 6.1

 

2.1 – 6.1

 

Dividend yield

 

 —

%  

 —

%  

 —

%

 

Non-Employee  
Schedule of Fair Value Assumptions of Stock Options

 

 

 

 

 

 

 

 



 

Year Ended December 31, 

 

 

    

2016

    

2015

    

2014

 

Expected volatility

 

52.3 - 52.7

%  

51.6 - 52.9

%  

52.8 - 53.8

%

Risk-free interest rate

 

1.94 - 2.41

%  

1.72 - 2.02

%  

2.17 - 2.48

%

Expected term (in years)

 

9.5 - 9.8

 

6.6 - 9.1

 

7.3 - 9.8

 

Dividend yield

 

 —

%  

 —

%  

 —

%