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Stock-Based Compensation (Tables)
9 Months Ended
Sep. 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

 

(1,921)

 

1,921

 

$

10.41

 

 

 

 

 

 

Options exercised

 

 —

 

(474)

 

$

3.87

 

 

 

 

 

 

Options forfeited/cancelled

 

531

 

(531)

 

$

10.45

 

 

 

 

 

 

Balance at September 30, 2017

 

4,832

 

9,959

 

$

6.46

 

7.27

 

$

64,602

 

Exercisable at September 30, 2017

 

 

 

5,498

 

$

4.08

 

6.09

 

$

48,763

 

Vested and expected to vest at September 30, 2017

 

 

 

9,536

 

$

6.33

 

7.21

 

$

63,102

 

 

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

 

313

 

$

10.39

 

Vested

 

(57)

 

$

9.70

 

Canceled/forfeited

 

(36)

 

$

10.09

 

Balance at September 30, 2017

 

379

 

$

10.28

 

 

Summary of stock-based compensation expenses

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three months ended  September 30, 

 

 

2017

 

2016

 

    

Employee

    

Non-Employee

    

Total

    

Employee

    

Non-Employee

    

Total

 

 

(in thousands)

Cost of revenues

 

$

138

 

$

 9

 

$

147

 

$

164

 

$

(4)

 

$

160

Research and development

 

 

943

 

 

 —

 

 

943

 

 

784

 

 

(1)

 

 

783

Selling, general and administrative

 

 

1,894

 

 

 2

 

 

1,896

 

 

1,716

 

 

14

 

 

1,730

Total

 

$

2,975

 

$

11

 

$

2,986

 

$

2,664

 

$

 9

 

$

2,673

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Nine months ended September 30, 

 

 

 

2017

 

2016

 

 

    

Employee

    

Non-Employee

    

Total  

    

Employee

    

Non-Employee

    

Total  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(in thousands)

 

Cost of revenues

 

$

420

 

$

10

 

$

430

 

$

479

 

$

 3

 

$

482

 

Research and development

 

 

2,323

 

 

 —

 

 

2,323

 

 

2,105

 

 

(1)

 

 

2,104

 

Selling, general and administrative

 

 

5,650

 

 

 3

 

 

5,653

 

 

5,117

 

 

262

 

 

5,379

 

Total

 

$

8,393

 

$

13

 

$

8,406

 

$

7,701

 

$

264

 

$

7,965

 

 

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  September 30, 

 

Nine months ended September 30, 

 

    

2017

    

    

2016

    

 

2017

 

2016

 

Expected term (years)

 

 

 

 

5.2

 

 

 

 

 

5.2

 

 

5.1

 

5.2

 

 

5.1

 

5.2

 

Expected volatility

 

62.3

%

62.5

%

 

69.0

%  

72.5

%

 

62.3

%

62.9

%

 

68.5

%

72.5

%

Expected dividend rate

 

 

 

 

 0

%

 

 

 

 

 0

%

 

 

 

 

0

%

 

 

 

 

 0

%

Risk-free interest rate

 

1.67

%

1.90

%

 

0.97

%  

1.12

%

 

1.67

%

1.90

%

 

0.97

%

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  September 30, 

 

Nine months ended September 30, 

 

    

2017

    

    

2016

    

 

2017

 

2016

 

Expected term (years)

 

 

 

 

2.7 

 

 

 

 

 

2.8

 

 

 

 

 

2.7 

 

 

2.8

 

3.2 

 

Expected volatility

 

 

 

 

51.3 

%

 

 

 

 

50.9

%

 

51.3

%

52.2 

%

 

50.9

%

72.6 

%

Expected dividend rate

 

 

 

 

 0 

%

 

 

 

 

0

%

 

 

 

 

 0 

%

 

 

 

 

 0 

%

Risk-free interest rate

 

 

 

 

1.58 

%

 

 

 

 

0.85

%

 

1.42

%

1.58 

%

 

0.68

%

0.90 

%