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Stock-Based Compensation (Tables)
9 Months Ended
Sep. 30, 2018
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, 2017

 

4,737

 

9,963

 

$

6.54

 

7.03

 

$

31,902

 

Additional shares authorized

 

2,162

 

 —

 

 

 

 

 

 

 

 

 

Options granted

 

(1,697)

 

1,697

 

$

11.24

 

 

 

 

 

 

Options exercised

 

 —

 

(1,774)

 

$

6.80

 

 

 

 

 

 

Options forfeited/cancelled

 

759

 

(759)

 

$

7.23

 

 

 

 

 

 

Balance at September 30, 2018

 

5,961

 

9,127

 

$

7.31

 

6.97

 

$

151,881

 

Exercisable at September 30, 2018

 

 

 

5,348

 

$

5.01

 

5.75

 

$

101,241

 

Vested and expected to vest at September 30, 2018

 

 

 

8,908

 

$

7.23

 

6.93

 

$

148,943

 

 

Restricted stock units

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted-

 

 

 

 

 

Average

 

 

 

 

 

Grant Date

 

(in thousands, except for grant date fair value)

 

Shares

 

Fair Value

 

 

 

 

 

 

 

 

Balance at December 31, 2017

 

389

 

$

10.38

 

Granted

 

923

 

$

11.72

 

Vested

 

(146)

 

$

13.02

 

Canceled/forfeited

 

(77)

 

$

9.78

 

Balance at September 30, 2018

 

1,089

 

$

11.56

 

 

Summary of stock-based compensation expenses

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three months ended  September 30, 

 

 

2018

 

2017

 

    

Employee

    

Non-Employee

    

Total

    

Employee

    

Non-Employee

    

Total

 

 

(in thousands)

Cost of revenues

 

$

176

 

$

15

 

$

191

 

$

138

 

$

 9

 

$

147

Research and development

 

 

1,047

 

 

 —

 

 

1,047

 

 

943

 

 

 —

 

 

943

Selling, general and administrative

 

 

2,292

 

 

86

 

 

2,378

 

 

1,894

 

 

 2

 

 

1,896

Total

 

$

3,515

 

$

101

 

$

3,616

 

$

2,975

 

$

11

 

$

2,986

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Nine months ended September 30, 

 

 

 

2018

 

2017

 

 

    

Employee

    

Non-Employee

    

Total  

    

Employee

    

Non-Employee

    

Total  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(in thousands)

 

Cost of revenues

 

$

466

 

$

20

 

$

486

 

$

420

 

$

10

 

$

430

 

Research and development

 

 

2,963

 

 

 —

 

 

2,963

 

 

2,323

 

 

 —

 

 

2,323

 

Selling, general and administrative

 

 

6,606

 

 

83

 

 

6,689

 

 

5,650

 

 

 3

 

 

5,653

 

Total

 

$

10,035

 

$

103

 

$

10,138

 

$

8,393

 

$

13

 

$

8,406

 

 

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, 

 

    

2018

    

    

2017

    

 

2018

 

2017

 

Expected term (years)

 

5.35

 

5.50

 

 

5.22

 

5.23

 

 

5.24

 

5.62

 

 

5.14

 

5.23

 

Expected volatility

 

40.59

%

41.05

%

 

62.27

 

62.49

%

 

40.28

%

41.05

%

 

62.27

%

62.93

%

Expected dividend rate

 

 

 

 

0.00

%

 

 

 

 

0.00

%

 

 

 

 

0.00

%

 

 

 

 

0.00

%

Risk-free interest rate

 

2.75

%

2.97

%

 

1.67

 

1.90

%

 

2.37

%

2.97

%

 

1.67

%

1.90

%

 

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, 

 

    

2018

    

    

2017

    

 

2018

 

2017

 

Expected term (years)

 

 

 

 

2.76

 

 

 

 

 

2.70

 

 

2.72

 

2.76

 

 

2.67

 

2.70

 

Expected volatility

 

 

 

 

41.36

%

 

 

 

 

51.28

%

 

41.36

%

42.03

%

 

51.28

%

52.18

%

Expected dividend rate

 

 

 

 

0.00

%

 

 

 

 

0.00

%

 

 

 

 

0.00

%

 

 

 

 

0.00

%

Risk-free interest rate

 

 

 

 

2.86

%

 

 

 

 

1.58

%

 

2.36

%

2.86

%

 

1.42

%

1.58

%