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Equity Incentive Plans (Tables)
12 Months Ended
Dec. 31, 2019
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Summary of Changes in Shares Available for Grant

Changes in shares available for grant during the year ended December 31, 2019 were as follows:

 

 

 

Shares Available for Grant

 

Shares available for grant at December 31, 2018

 

 

6,827,996

 

2009 Plan reserve cancelled

 

 

(3,155,968

)

2019 Plan reserve established

 

 

15,519,170

 

Options and restricted stock units granted

 

 

(4,207,301

)

Options and restricted stock units forfeited or cancelled

 

 

412,357

 

Shares available for grant at December 31, 2019

 

 

15,396,254

 

Summary of Stock Option Activity Under 2008 Plan 2009 Plan and 2019 Plan

Stock option activity under the 2008 Plan, 2009 Plan and 2019 Plan during the year ended December 31, 2019, 2018 and 2017 was as follows:

 

 

 

Shares

Subject to

Outstanding

Options

 

 

Weighted-

Average

Exercise Price

per Share

 

 

Aggregate

Intrinsic Value

(in thousands)

 

Options outstanding at December 31, 2016

 

 

12,919,342

 

 

$

3.28

 

 

$

41,952

 

Options granted

 

 

1,604,496

 

 

 

6.27

 

 

 

 

 

Options forfeited or cancelled

 

 

(2,207,933

)

 

 

5.51

 

 

 

 

 

Options exercised

 

 

(226,211

)

 

 

0.98

 

 

 

 

 

Options outstanding at December 31, 2017

 

 

12,089,694

 

 

 

3.56

 

 

 

36,165

 

Options granted

 

 

4,764,625

 

 

 

6.55

 

 

 

 

 

Options forfeited or cancelled

 

 

(929,519

)

 

 

4.86

 

 

 

 

 

Options exercised

 

 

(766,870

)

 

 

1.66

 

 

 

 

 

Options outstanding at December 31, 2018

 

 

15,157,930

 

 

 

4.52

 

 

 

41,690

 

Options granted

 

 

4,194,491

 

 

 

9.72

 

 

 

 

 

Options forfeited or cancelled

 

 

(412,357

)

 

 

6.24

 

 

 

 

 

Options exercised

 

 

(2,293,410

)

 

 

1.97

 

 

 

 

 

Options outstanding at December 31, 2019

 

 

16,646,654

 

 

$

6.14

 

 

$

398,379

 

Options vested and exercisable at December 31, 2019

 

 

10,101,496

 

 

$

4.58

 

 

$

255,939

 

Summary of Estimated Fair Value of Options Granted

The estimated fair value of options granted during the year ended December 31, 2019, 2018 and 2017 was estimated using the Black-Scholes option-pricing model with the following assumptions:

 

 

 

Year Ended December 31,

 

 

 

2019

 

 

2018

 

 

2017

 

Grant date fair value

 

$7.80 - $47.81

 

 

$6.55

 

 

$6.27 - $6.32

 

Expected term (in years)

 

5.27 - 6.08

 

 

6.08 - 10.00

 

 

6.08 - 10.00

 

Risk-free interest rate

 

1.4% - 2.5%

 

 

2.6% - 3.0%

 

 

1.9% - 2.4%

 

Expected volatility

 

64.3% - 72.9%

 

 

65.0% - 69.2%

 

 

67.3% - 70.5%

 

Expected dividend yield

 

 

 

 

 

 

 

 

 

Summary of Compensation Costs Related to Stock Options and RSUs Included on Statements of Operations The compensation costs related to stock options and RSUs for the year ended December 31, 2019, 2018 and 2017, respectively, are included on our statements of operations as follows (in thousands):

 

 

Year Ended December 31,

 

 

 

2019

 

 

2018

 

 

2017

 

Cost of revenue

 

$

555

 

 

$

398

 

 

$

237

 

Research and development

 

 

3,934

 

 

 

2,896

 

 

 

2,375

 

Sales and marketing

 

 

3,480

 

 

 

2,891

 

 

 

1,344

 

General and administration

 

 

5,155

 

 

 

4,964

 

 

 

3,053

 

Total share-based compensation expense

 

$

13,124

 

 

$

11,149

 

 

$

7,009