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Stock-Based Compensation (Tables)
9 Months Ended
Sep. 30, 2020
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Summary of Company's Stock Award Activity and Related Information

A summary of the Company’s stock award 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, 2019

 

 

948,415

 

 

 

11,165,846

 

 

$

7.44

 

 

 

7.6

 

 

$

1,907

 

Additional shares authorized

 

 

9,137,667

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Options granted

 

 

(736,579

)

 

 

736,579

 

 

 

1.97

 

 

 

 

 

 

 

 

 

Options exercised

 

 

 

 

 

(20,579

)

 

 

0.72

 

 

 

 

 

 

 

 

 

Options cancelled or forfeited

 

 

3,496,601

 

 

 

(3,496,601

)

 

 

6.99

 

 

 

 

 

 

 

 

 

Withheld shares to pay for taxes on released RSUs

 

 

299,898

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

RSUs granted

 

 

(5,981,966

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

RSUs cancelled or forfeited

 

 

599,623

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance at September 30, 2020

 

 

7,763,659

 

 

 

8,385,245

 

 

$

7.12

 

 

 

7.6

 

 

$

2,273

 

Vested and exercisable at September 30, 2020

 

 

 

 

 

 

5,180,433

 

 

$

7.11

 

 

 

7.1

 

 

$

1,199

 

Vested and expected to vest at September 30, 2020

 

 

 

 

 

 

8,095,506

 

 

$

7.15

 

 

 

7.5

 

 

$

2,134

 

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,

 

 

 

2020

 

 

2019

 

Expected term (in years)

 

 

6.0

 

 

 

6.0

 

Expected volatility

 

68.8%

 

 

60.7%

 

Risk-free interest rate

 

0.7%

 

 

2.4%

 

Expected dividend yield

 

0.0%

 

 

0.0%

 

Summary of RSU Activity

 

 

RSUs

 

 

 

Number of Shares

 

 

Weighted Average Grant Date Fair Value

 

Unvested at December 31, 2019

 

 

4,379,777

 

 

$

5.14

 

RSUs granted

 

 

5,981,966

 

 

 

2.78

 

RSUs vested

 

 

(996,529

)

 

 

8.14

 

RSUs forfeited

 

 

(599,623

)

 

 

3.13

 

Unvested at September 30, 2020

 

 

8,765,591

 

 

$

3.33

 

Vested and unreleased

 

 

153,055

 

 

 

 

 

Outstanding at September 30, 2020

 

 

8,918,646

 

 

 

 

 

Summary of Stock-Based Compensation Expense Recognized for Employee Stock Awards and Employee Stock Purchase Plan Shares

Total stock-based compensation expense recognized for employee stock awards and employee stock purchase plan shares 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,

 

 

 

2020

 

 

2019

 

 

2020

 

 

2019

 

Cost of revenue

 

$

217

 

 

$

757

 

 

$

725

 

 

$

1,967

 

Research and development

 

 

549

 

 

 

1,076

 

 

 

1,705

 

 

 

2,900

 

Selling and marketing

 

 

258

 

 

 

385

 

 

 

817

 

 

 

1,027

 

General and administrative

 

 

4,735

 

 

 

2,692

 

 

 

13,816

 

 

 

8,475

 

Total stock-based compensation expense

 

$

5,759

 

 

$

4,910

 

 

$

17,063

 

 

$

14,369