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Stock-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2016
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Summary of Company's Stock Option Activity and Related Information

A summary of the Company’s stock option activity and related information is as follows:

 

 

 

 

 

 

 

Options Outstanding

 

 

 

Shares

Available

for Grant

 

 

Number

of Stock

Options

Outstanding

 

 

Weighted-

Average

Exercise

Price

 

 

Weighted-

Average

Remaining

Contractual Life

(Years)

 

 

Aggregate

Intrinsic

Value

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(In thousands)

 

Balance at January 1, 2014

 

 

1,848,367

 

 

 

2,723,573

 

 

$

0.71

 

 

 

7.7

 

 

$

138

 

Granted

 

 

(1,642,799

)

 

 

1,642,799

 

 

 

0.84

 

 

 

 

 

 

 

 

 

Exercised

 

 

—

 

 

 

(28,320

)

 

 

0.73

 

 

 

 

 

 

 

 

 

Cancelled

 

 

89,533

 

 

 

(89,533

)

 

 

0.74

 

 

 

 

 

 

 

 

 

Balance at December 31, 2014

 

 

295,101

 

 

 

4,248,519

 

 

 

0.76

 

 

 

7.7

 

 

 

8,343

 

Additional authorized

 

 

4,708,447

 

 

 

—

 

 

 

 

 

 

 

 

 

 

 

 

 

Granted

 

 

(1,975,673

)

 

 

1,975,673

 

 

 

5.03

 

 

 

 

 

 

 

 

 

Exercised

 

 

—

 

 

 

(31,427

)

 

 

0.76

 

 

 

 

 

 

 

 

 

Cancelled

 

 

139,093

 

 

 

(139,093

)

 

 

1.46

 

 

 

 

 

 

 

 

 

Balance at December 31, 2015

 

 

3,166,968

 

 

 

6,053,672

 

 

 

2.13

 

 

 

7.6

 

 

 

20,605

 

Granted

 

 

(1,173,043

)

 

 

1,173,043

 

 

 

4.20

 

 

 

 

 

 

 

 

 

Exercised

 

 

—

 

 

 

(773,718

)

 

 

0.70

 

 

 

 

 

 

 

 

 

Cancelled

 

 

325,706

 

 

 

(325,706

)

 

 

4.31

 

 

 

 

 

 

 

 

 

RSUs Granted

 

 

(151,240

)

 

 

—

 

 

 

—

 

 

 

 

 

 

 

 

 

Balance at December 31, 2016

 

 

2,168,391

 

 

 

6,127,291

 

 

$

2.60

 

 

 

7.3

 

 

$

7,800

 

Vested and exercisable at December 31,

   2016

 

 

 

 

 

 

3,608,258

 

 

$

1.66

 

 

 

6.4

 

 

$

6,711

 

Vested and expected to vest at December 31,

   2016

 

 

 

 

 

 

5,901,120

 

 

$

2.55

 

 

 

7.3

 

 

$

7,688

 

 
Schedule of Weighted-Average Assumptions Used in Black-Scholes Option-Pricing Model to Estimate Fair Value of Employee Stock Options at Grant Date

The fair value of employee stock options was estimated at the date of grant using a Black-Scholes option-pricing model with the following weighted-average assumptions:

 

 

 

Year Ended December 31,

 

 

 

2016

 

 

2015

 

 

2014

 

Expected term (in years)

 

 

6.0

 

 

 

5.9

 

 

 

5.7

 

Expected volatility (%)

 

 

67.1%

 

 

 

68.7%

 

 

 

50.7%

 

Risk-free interest rate (%)

 

 

1.3%

 

 

 

1.8%

 

 

 

1.8%

 

Expected dividend yield (%)

 

 

0.0%

 

 

 

0.0%

 

 

 

0.0%

 

 
Summary of Stock-Based Compensation Expense

Total stock-based compensation expense recognized in the Company’s consolidated statements of operations is classified as follows (in thousands):

 

 

 

Year Ended December 31,

 

 

 

2016

 

 

2015

 

 

2014

 

Research and development

 

$

593

 

 

$

262

 

 

$

85

 

Selling and marketing

 

 

120

 

 

 

50

 

 

 

15

 

General and administrative

 

 

2,194

 

 

 

754

 

 

 

218

 

Total stock-based compensation expense

 

$

2,907

 

 

$

1,066

 

 

$

318