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Stock-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2020
Summary of Stock-Based Compensation Expense

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

 

 

Year Ended December 31,

 

 

 

2020

 

 

2019

 

 

2018

 

Cost of revenue

 

$

965

 

 

$

2,645

 

 

$

1,609

 

Research and development

 

 

2,288

 

 

 

3,910

 

 

 

2,681

 

Selling and marketing

 

 

1,091

 

 

 

1,365

 

 

 

736

 

General and administrative

 

 

18,461

 

 

 

11,525

 

 

 

9,143

 

Total stock-based compensation expense

 

$

22,805

 

 

$

19,445

 

 

$

14,169

 

Summary of RSU Activity

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

 

 

Number of Shares

 

 

Weighted Average Grant Date Fair Value

 

 

Unvested at December 31, 2019

 

 

4,379,777

 

 

$

5.14

 

 

RSUs granted

 

 

6,079,659

 

 

$

2.80

 

 

RSUs vested

 

 

(1,779,152

)

 

$

5.69

 

 

RSUs cancelled or forfeited

 

 

(633,885

)

 

$

3.11

 

 

Unvested at December 31, 2020

 

 

8,046,399

 

 

$

3.41

 

 

Vested and unreleased

 

 

177,007

 

 

 

 

 

 

Outstanding at December 31, 2020

 

 

8,223,406

 

 

 

 

 

 

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:

 

 

 

Number

of Stock

Options

Outstanding

 

 

Weighted-

Average

Exercise

Price

 

 

Weighted-

Average

Remaining

Contractual Life

(Years)

 

 

Aggregate

Intrinsic

Value

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(In thousands)

 

Options outstanding at December 31, 2019

 

 

11,165,846

 

 

$

7.44

 

 

 

7.6

 

 

$

1,907

 

Options granted

 

 

736,579

 

 

 

1.97

 

 

 

 

 

 

 

 

 

Options exercised

 

 

(20,579

)

 

 

0.72

 

 

 

 

 

 

 

 

 

Options cancelled or forfeited

 

 

(3,739,498

)

 

 

6.95

 

 

 

 

 

 

 

 

 

Options outstanding at December 31, 2020

 

 

8,142,348

 

 

$

7.14

 

 

 

7.3

 

 

$

2,638

 

Options exercisable at December 31, 2020

 

 

5,319,817

 

 

$

7.20

 

 

 

6.8

 

 

$

1,354

 

Options vested and expected to vest at December 31, 2020

 

 

7,875,294

 

 

$

7.18

 

 

 

7.2

 

 

$

2,438

 

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,

 

 

 

2020

 

 

2019

 

 

2018

 

Expected term (in years)

 

 

6.0

 

 

 

6.0

 

 

 

6.0

 

Expected volatility (%)

 

68.8%

 

 

60.7%

 

 

60.4%

 

Risk-free interest rate (%)

 

0.7%

 

 

2.4%

 

 

2.8%

 

Expected dividend yield (%)

 

0%

 

 

0%

 

 

0%

 

2015 Employee Stock Purchase Plan  
Schedule of Weighted-Average Assumptions Used in Black-Scholes Option-Pricing Model to Estimate Fair Value of Employee Stock Purchases at Grant Date

The fair value of each purchase right granted under the ESPP was estimated on the date of grant using the Black-Scholes option-pricing model with the following assumptions:

 

 

Year Ended December 31,

 

 

 

2020

 

 

2019

 

2018

 

Expected term (in years)

 

0.25 - 0.50

 

 

N/A

 

N/A

 

Expected volatility (%)

 

83.0%

 

 

N/A

 

N/A

 

Risk-free interest rate (%)

 

0.09% - 0.17%

 

 

N/A

 

N/A

 

Expected dividend yield (%)

 

0%

 

 

N/A

 

N/A