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Stock-Based Compensation (Tables)
6 Months Ended
Jun. 30, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Summary of stock option activity

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Outstanding Options

 

 

    

 

    

 

    

 

    

Weighted-

    

 

 

 

 

 

 

 

 

Weighted-

 

Average

 

 

 

 

 

Shares

 

 

 

Average

 

Remaining

 

Aggregate

 

 

 

Available for

 

Number of

 

Exercise

 

Contractual

 

Intrinsic

 

(in thousands, except for contractual life and exercise price)

 

Grant

 

Shares

 

Price

 

Life

 

Value

 

 

 

 

 

 

 

 

 

 

(In years)

 

 

 

Balance at December 31, 2016

 

4,115

 

9,043

 

$

5.72

 

7.55

 

$

55,396

 

Additional shares authorized

 

2,107

 

 —

 

 

 

 

 

 

 

 

 

Options granted

 

(1,568)

 

1,568

 

$

10.23

 

 

 

 

 

 

Options exercised

 

 —

 

(280)

 

$

3.36

 

 

 

 

 

 

Options forfeited/cancelled

 

380

 

(380)

 

$

10.23

 

 

 

 

 

 

Balance at June 30, 2017

 

5,034

 

9,951

 

$

6.33

 

7.44

 

$

46,865

 

Exercisable at June 30, 2017

 

 

 

5,415

 

$

3.89

 

6.25

 

$

38,550

 

Vested and expected to vest at June 30, 2017

 

 

 

9,509

 

$

6.19

 

7.37

 

$

46,054

 

 

Restricted stock units

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted-

 

 

 

 

 

Average

 

 

 

 

 

Grant Date

 

(in thousands, except for grant date fair value)

 

Shares

 

Fair Value

 

 

 

 

 

 

 

 

Balance at December 31, 2016

 

159

 

$

9.80

 

Granted

 

295

 

$

10.25

 

Vested

 

(51)

 

$

9.70

 

Canceled/forfeited

 

(20)

 

$

9.64

 

Balance at June 30, 2017

 

383

 

$

10.16

 

 

Summary of stock-based compensation expenses

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three months ended  June 30, 

 

 

2017

 

2016

 

    

Employee

    

Non-Employee

    

Total

    

Employee

    

Non-Employee

    

Total

 

 

(in thousands)

Cost of revenues

 

$

139

 

$

13

 

$

152

 

$

157

 

$

32

 

$

189

Research and development

 

 

730

 

 

 —

 

 

730

 

 

716

 

 

 1

 

 

717

Selling, general and administrative

 

 

1,992

 

 

 3

 

 

1,995

 

 

1,940

 

 

51

 

 

1,991

Total

 

$

2,861

 

$

16

 

$

2,877

 

$

2,813

 

$

84

 

$

2,897

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Six months ended June 30, 

 

 

 

2017

 

2016

 

 

    

Employee

    

Non-Employee

    

Total  

    

Employee

    

Non-Employee

    

Total  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(in thousands)

 

Cost of revenues

 

$

282

 

$

 1

 

$

283

 

$

315

 

$

 7

 

$

322

 

Research and development

 

 

1,380

 

 

 —

 

 

1,380

 

 

1,321

 

 

 —

 

 

1,321

 

Selling, general and administrative

 

 

3,756

 

 

 1

 

 

3,757

 

 

3,401

 

 

248

 

 

3,649

 

Total

 

$

5,418

 

$

 2

 

$

5,420

 

$

5,037

 

$

255

 

$

5,292

 

 

Employee stock options  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Schedule of assumptions used in valuation of fair value of employee stock options

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three months ended  June 30, 

 

Six months ended June 30, 

 

    

2017

    

    

2016

    

 

2017

 

2016

 

Expected term (years)

 

5.1

 

5.2

 

 

5.1

 

5.2

 

 

5.1

 

5.2

 

 

5.1

 

5.2

 

Expected volatility

 

62.7

%

62.9

%

 

68.5

69.2

%

 

62.7

%

62.9

%

 

68.5

%

71.0

%

Expected dividend rate

 

 

 

 

 0

%

 

 

 

 

 0

%

 

 

 

 

 0

%

 

 

 

 

 0

%

Risk-free interest rate

 

1.80

%

1.87

%

 

1.18

%  

1.24

%

 

1.80

%

1.91

%

 

1.18

%

1.24

%

 

Non-employee stock options  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Schedule of assumptions used in valuation of fair value of employee stock options

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three months ended  June 30, 

 

Six months ended June 30, 

 

    

2017

    

    

2016

    

 

2017

 

2016

 

Expected term (years)

 

 

 

 

2.7

 

 

 

 

 

2.8

 

 

 

 

 

2.7

 

 

2.8

 

3.2

 

Expected volatility

 

 

 

 

52.2

%

 

 

 

 

56.5

%

 

51.7

%

52.2

%

 

56.5

%

72.6

%

Expected dividend rate

 

 

 

 

 0

%

 

 

 

 

 0

%

 

 

 

 

 0

%

 

 

 

 

 0

%

Risk-free interest rate

 

 

 

 

1.50

%

 

 

 

 

0.68

%

 

1.42

%

1.50

%

 

0.68

%

0.90

%