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Stockholders' Equity (Tables)
9 Months Ended
Sep. 30, 2017
Equity [Abstract]  
Schedule of Number of Shares of Common Stock Reserved for Future Issuance

The Company has reserved for future issuance the following number of shares of common stock:

 

 

 

September 30, 2017

 

 

December 31, 2016

 

Unvested restricted stock

 

 

1,386,942

 

 

 

1,297,054

 

Common stock options

 

 

849,953

 

 

 

1,267,329

 

Shares available for issuance under the 2013 Stock Option and

   Incentive Plan

 

 

3,250,408

 

 

 

2,398,031

 

Shares available for issuance under the 2013 Employee Stock

   Purchase Plan

 

 

788,503

 

 

 

788,503

 

 

 

 

6,275,806

 

 

 

5,750,917

 

 

Summary of Roll Forward of Restricted Stock Activity Pursuant to the 2010 and 2013 Stock Plan

The following table shows a roll forward of restricted stock activity pursuant to the 2010 Stock Plan and the 2013 Stock Plan:

 

 

 

Number of

Shares

 

Unvested at December 31, 2016

 

 

1,297,054

 

Granted

 

 

775,819

 

Vested

 

 

(520,098

)

Cancelled

 

 

(165,833

)

Unvested at September 30, 2017

 

 

1,386,942

 

 

Summary of Stock Option Activity Under the 2010 Stock Plan and the 2013 Stock Plan

A summary of stock option activity under the 2010 Stock Plan and the 2013 Stock Plan for the nine months ended September 30, 2017 is as follows:

 

 

 

Number of

Shares

 

 

Weighted-

Average

Exercise

Price

 

 

Weighted-

Average

Remaining

Contractual

Term

(In Years)

 

 

Aggregate

Intrinsic

Value

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(in thousands)

 

Outstanding as of December 31, 2016

 

 

1,267,329

 

 

$

16.22

 

 

 

6.6

 

 

$

8,355

 

Granted

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Exercised

 

 

(366,044

)

 

 

11.28

 

 

 

 

 

 

 

 

 

Cancelled

 

 

(51,332

)

 

 

24.39

 

 

 

 

 

 

 

 

 

Outstanding as of September 30, 2017

 

 

849,953

 

 

$

17.86

 

 

 

5.9

 

 

$

19,500

 

Exercisable as of September 30, 2017

 

 

746,590

 

 

$

16.43

 

 

 

5.8

 

 

$

18,061

 

 

Recorded Stock-Based Compensation Expense in the Consolidated Statements of Operations and Comprehensive Loss

The Company recorded stock-based compensation expense in the statements of operations and comprehensive loss as follows (in thousands):

 

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

 

2017

 

 

2016

 

 

2017

 

 

2016

 

Cost of revenue

 

$

294

 

 

$

668

 

 

$

1,952

 

 

$

1,488

 

Selling and marketing

 

 

824

 

 

 

1,112

 

 

 

3,341

 

 

 

2,768

 

General and administrative

 

 

2,872

 

 

 

2,800

 

 

 

8,809

 

 

 

6,393

 

Research and development

 

 

945

 

 

 

1,276

 

 

 

3,958

 

 

 

2,877

 

Total

 

$

4,935

 

 

$

5,856

 

 

$

18,060

 

 

$

13,526

 

 

Weighted-Average Assumptions Used to Estimate Fair Value of Stock Options Using Black-Scholes Option Pricing Model

There were no stock options granted during the three and nine months ended September 30, 2017 and three months ended September 30, 2016. The weighted-average assumptions used to estimate the fair value of stock options using the Black-Scholes option pricing model for the nine months ended September 30, 2016 were as follows:

 

 

Nine Months Ended

 

 

September 30, 2016

 

Expected volatility

 

59.2

%

Risk-free interest rate

 

1.9

%

Expected option term (in years)

 

6.25

 

Expected dividend yield

 

0.0

%