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Stock-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2019
Share-based Payment Arrangement [Abstract]  
Summary of stock option activity
Stock option and PSO activity is summarized for the years ended December 31, 2019, 2018 and 2017 as follows:
Stock Options
Number of
Stock Options
 
Weighted
Average
Exercise Price
 
Weighted Average Remaining Contractual Term
(Years)
 
Aggregate Intrinsic Value
(in thousands)
Outstanding as of December 31, 2016
3,568,434

 
$
7.82

 
 
 
 
Granted
543,881

 
31.12

 
 
 
 
Forfeited
(154,510
)
 
16.22

 
 
 
 
Exercised
(383,366
)
 
9.91

 
 
 
 
Outstanding as of December 31, 2017
3,574,439

 
$
10.78

 
 
 
 
Granted
387,306

 
43.82

 
 
 
 
Forfeited
(114,769
)
 
30.64

 
 
 
 
Exercised
(1,185,694
)
 
8.08

 
 
 
 
Outstanding as of December 31, 2018
2,661,282

 
$
15.94

 
 
 
 
Granted
367,142

 
63.27

 
 
 
 
Forfeited
(71,534
)
 
31.61

 
 
 
 
Exercised
(265,831
)
 
8.94

 
 
 
 
Outstanding as of December 31, 2019
2,691,059

 
$
22.67

 
5.7
 
$
72,621

Exercisable as of December 31, 2019
1,852,025

 
$
10.92

 
4.4
 
$
66,165

Expected to vest as of December 31, 2019
761,428

 
$
48.62

 
8.5
 
$
5,858

Performance Stock Options
Number of
PSOs
 
Weighted
Average
Exercise Price
 
Weighted Average Remaining Contractual Term
(Years)
 
Aggregate Intrinsic Value
(in thousands)
Outstanding as of December 31, 2016
200,000

 
$
19.89

 
 
 
 
Granted
—

 
—

 
 
 
 
Forfeited
—

 
—

 
 
 
 
Exercised
(50,000
)
 
18.33

 
 
 
 
Outstanding as of December 31, 2017
150,000

 
$
20.41

 
 
 
 
Granted
—

 
—

 
 
 
 
Forfeited
—

 
—

 
 
 
 
Exercised
(15,000
)
 
18.33

 
 
 
 
Outstanding as of December 31, 2018
135,000

 
$
20.64

 
 
 
 
Granted
—

 
—

 
 
 
 
Forfeited
—

 
—

 
 
 
 
Exercised
(105,000
)
 
20.41

 
 
 
 
Outstanding as of December 31, 2019
30,000

 
$
21.45

 
7.0
 
$
746

Exercisable as of December 31, 2019
30,000

 
$
21.45

 
7.0
 
$
746

The PSOs met their performance criteria, vested, and were priced as follows:
Performance Achievement Date
 
Number of
Shares
 
Weighted
Average
Exercise Price
October 4, 2016
 
100,000

 
$18.33
January 13, 2017
 
100,000

 
$21.45
Summary of total outstanding stock options
A summary of total outstanding stock options and PSOs as of December 31, 2019 is as follows:
 
Stock Options & PSOs Outstanding
 
Stock Options & PSOs Exercisable
Range of Exercise Prices
 
Number of
Stock Options & PSOs
Outstanding
 
Weighted
Average
Remaining
Contractual
Life (in Years)
 
Weighted
Average
Exercise Price
 
Number of
Stock Options & PSOs
Exercisable
 
Weighted
Average
Remaining
Contractual
Life (in Years)
 
Weighted
Average
Exercise Price
$2.22 - $10.00
1,248,361

 
3.4
 
$
5.23

 
1,246,486

 
3.4
 
$
5.22

$10.01 - $25.00
529,091

 
6.1
 
16.26

 
439,160

 
5.9
 
15.25

$25.01 - $40.00
519,798

 
8.1
 
34.46

 
167,129

 
7.8
 
33.93

$40.01 - $70.00
136,000

 
9.2
 
53.79

 
11,250

 
8.7
 
58.99

$70.01 - $76.01
287,809

 
9.1
 
73.99

 
18,000

 
8.9
 
73.62

$2.22 - $76.01
2,721,059

 
5.7
 
$
22.66

 
1,882,025

 
4.5
 
$
11.08
Summary of certain additional information with respect to options
The table below summarizes certain additional information with respect to our stock options:
 
 
Year Ended December 31,
(in thousands, except per option amounts)
 
2019
 
2018
 
2017
Aggregate intrinsic value of stock options exercised during the year
$
19,062

 
$
49,188

 
$
7,562

Cash received from the exercise of stock options
4,519

 
9,855

 
4,714

Weighted average grant date fair value per option
$
36.52

 
$
25.96

 
$
18.05
Schedule of weighted average assumptions used to estimate the fair value of stock options
The weighted average of the assumptions used to determine the fair value of stock options at the date of grant is as follows:
 
Year Ended December 31,
 
2019
 
2018
 
2017
Expected volatility
54.9
%
 
55.2
%
 
59.2
%
Expected term (in years)
7.2

 
7.4

 
7.3

Risk-free interest rate
2.30
%
 
2.78
%
 
2.08
%
Expected dividends
0.0
%
 
0.0
%
 
0.0
%
Summary of RSU and PSU activity
RSU and PSU activity is summarized for the years ended December 31, 2019, 2018 and 2017 as follows:
 
Restricted Stock Units
 
Performance Stock Units
 
Number
of RSUs
 
Weighted Average
Grant Date Fair Value
 
Number
of PSUs
 
Weighted Average
Grant Date Fair Value
Units outstanding as of December 31, 2016
592,349

 
$
9.86

 
132,992

 
$
8.68

Granted
117,614

 
25.98

 
—

 
—

Forfeited
(48,974
)
 
13.57

 
(132,992
)
 
8.68

Vested
(193,860
)
 
9.31

 
—

 
—

Units outstanding as of December 31, 2017
467,129

 
$
13.76

 
—

 
$
—

Granted
128,860

 
35.14

 
88,345

 
37.79

Forfeited
(12,466
)
 
22.88

 
(1,236
)
 
37.79

Vested
(224,840
)
 
12.02

 
—

 
—

Units outstanding as of December 31, 2018
358,683

 
$
22.22

 
87,109

 
$
37.79

Granted
109,998

 
59.16

 
34,088

 
86.29

Forfeited
(24,965
)
 
33.24

 
(31,177
)
 
40.95

Vested
(173,664
)
 
13.73

 
—

 
—

Units outstanding as of December 31, 2019
270,052

 
$
41.70

 
90,020

 
$
55.06
Summary of total outstanding RSUs and PSUs
In addition, a summary of total outstanding RSUs and PSUs as of December 31, 2019 is as follows:
Range of Grant Date Fair Value
 
RSUs
Outstanding
 
PSUs
Outstanding*
$24.65 - $31.50
 
83,827

 
—

$31.51 - $44.16
 
108,508

 
57,963

$44.17 - $76.01
 
77,717

 
—

$76.02 - $86.29
 
—

 
32,057

$24.65 - $86.29
 
270,052

 
90,020
Schedule of aggregate market values vested
Additional information about our RSUs and PSUs is summarized as follows:
 
 
Year Ended December 31,
(in thousands)
 
2019
 
2018
 
2017
Aggregate market value of RSUs vested during the year
$
12,833

 
$
7,940

 
$
4,768
Schedule of aggregate stock-based compensation expense
Our aggregate stock-based compensation expense is summarized as follows:
 
Year Ended December 31,
(in thousands)
2019
 
2018
 
2017
Stock options
$
7,307

 
$
4,550

 
$
3,183

Performance stock options
—

 
—

 
1,534

Restricted stock units
3,719

 
3,052

 
2,273

Performance stock units
867

 
589

 
—

Employee stock purchase plan
1,483

 
1,070

 
690

Total stock-based compensation expense
$
13,376

 
$
9,261

 
$
7,680