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Stock-Based Compensation (Tables)
9 Months Ended
Sep. 30, 2019
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 December 31, 2018

 

 

1,908,626

 

 

 

11,603,708

 

 

$

6.64

 

 

 

7.6

 

 

$

10,151

 

Additional options authorized

 

 

3,853,280

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Options granted

 

 

(2,624,505

)

 

 

2,624,505

 

 

 

8.19

 

 

 

 

 

 

 

 

 

Options exercised

 

 

 

 

 

(2,219,251

)

 

 

4.34

 

 

 

 

 

 

 

 

 

Options canceled

 

 

553,585

 

 

 

(553,585

)

 

 

6.73

 

 

 

 

 

 

 

 

 

Withheld shares to pay for taxes on RSU released shares

 

 

253,986

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

RSUs granted

 

 

(708,144

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

RSUs canceled

 

 

70,732

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance at September 30, 2019

 

 

3,307,560

 

 

 

11,455,377

 

 

$

7.58

 

 

 

7.9

 

 

$

1,011

 

Vested and exercisable at September 30, 2019

 

 

 

 

 

 

4,575,393

 

 

$

6.25

 

 

 

6.2

 

 

$

1,010

 

Vested and expected to vest at September 30, 2019

 

 

 

 

 

 

10,793,250

 

 

$

7.38

 

 

 

7.7

 

 

$

1,010

 

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 is estimated at the date of grant using a Black-Scholes option-pricing model with the following weighted-average assumptions:  

 

 

 

Nine Months Ended September 30,

 

 

 

2019

 

 

2018

 

Expected term (in years)

 

 

6.0

 

 

 

6.0

 

Expected volatility%

 

60.7%

 

 

60.4%

 

Risk-free interest rate%

 

2.4%

 

 

2.8%

 

Expected dividend yield%

 

 

0.0%

 

 

 

0.0%

 

Summary of RSU Activity (Detail)

 

 

RSUs

 

 

 

 

Number of Shares

 

 

Weighted Average Grant Date Fair Value

 

 

Unvested at December 31, 2018

 

 

1,736,234

 

 

$

9.65

 

 

RSUs granted

 

 

708,144

 

 

 

7.79

 

 

RSUs vested

 

 

(631,252

)

 

 

9.40

 

 

Unvested at September 30, 2019

 

 

1,813,126

 

 

$

9.13

 

 

Vested and unreleased

 

 

104,173

 

 

 

 

 

 

Outstanding at September 30, 2019

 

 

1,917,299

 

 

 

 

 

 

Summary of Stock-Based Compensation Expense

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

 

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

 

2019

 

 

2018

 

 

2019

 

 

2018

 

Research and development

 

$

377

 

 

$

511

 

 

$

1,221

 

 

$

1,061

 

Selling and marketing

 

 

368

 

 

 

234

 

 

 

980

 

 

 

555

 

General and administrative

 

 

4,165

 

 

 

6,434

 

 

 

12,168

 

 

 

8,436

 

Total stock-based compensation expense

 

$

4,910

 

 

$

7,179

 

 

$

14,369

 

 

$

10,052