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Stock-Based Compensation (Tables)
6 Months Ended
Jun. 30, 2019
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, 2018

 

5,431

 

9,463

 

$

7.69

 

6.91

 

$

61,718

 

Additional shares authorized

 

2,483

 

 —

 

 

 

 

 

 

 

 

 

Options granted

 

(1,697)

 

1,697

 

$

17.94

 

 

 

 

 

 

Options exercised

 

 —

 

(1,468)

 

$

4.08

 

 

 

 

 

 

Options forfeited/cancelled

 

286

 

(286)

 

$

14.10

 

 

 

 

 

 

Balance at June 30, 2019

 

6,503

 

9,406

 

$

9.90

 

7.24

 

$

166,273

 

Exercisable at June 30, 2019

 

 

 

5,028

 

$

6.51

 

5.79

 

$

105,948

 

Vested and expected to vest at June 30, 2019

 

 

 

9,219

 

$

9.80

 

7.19

 

$

163,939

 

 

Restricted stock units

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted-

 

 

 

 

 

Average

 

 

 

 

 

Grant Date

 

(in thousands, except for grant date fair value)

 

Shares

 

Fair Value

 

 

 

 

 

 

 

 

Balance at December 31, 2018

 

1,084

 

$

11.72

 

Granted

 

1,625

 

$

17.70

 

Vested

 

(273)

 

$

10.24

 

Canceled/forfeited

 

(105)

 

$

15.86

 

Balance at June 30, 2019

 

2,331

 

$

 

 

 

Summary of stock-based compensation expenses

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three months ended  June 30, 

 

 

2019

 

2018

 

    

Employee

    

Non-Employee

    

Total

    

Employee

    

Non-Employee

    

Total

 

 

(in thousands)

Cost of revenues

 

$

215

 

$

10

 

$

225

 

$

152

 

$

 1

 

$

153

Research and development

 

 

1,264

 

 

 —

 

 

1,264

 

 

1,013

 

 

 —

 

 

1,013

Selling, general and administrative

 

 

4,226

 

 

89

 

 

4,315

 

 

2,206

 

 

(4)

 

 

2,202

Total

 

$

5,705

 

$

99

 

$

5,804

 

$

3,371

 

$

(3)

 

$

3,368

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Six months ended June 30, 

 

 

 

2019

 

2018

 

 

    

Employee

    

Non-Employee

    

Total  

    

Employee

    

Non-Employee

    

Total  

 

 

 

(in thousands)

 

Cost of revenues

 

$

383

 

$

10

 

$

393

 

$

290

 

$

 5

 

$

295

 

Research and development

 

 

2,157

 

 

 —

 

 

2,157

 

 

1,916

 

 

 —

 

 

1,916

 

Selling, general and administrative

 

 

6,873

 

 

432

 

 

7,305

 

 

4,314

 

 

(3)

 

 

4,311

 

Total

 

$

9,413

 

$

442

 

$

9,855

 

$

6,520

 

$

 2

 

$

6,522

 

 

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, 

 

    

2019

    

    

2018

    

 

2019

 

2018

 

Expected term (years)

 

5.30

 

10.00

 

 

5.61

 

5.62

 

 

5.30

 

10.00

 

 

5.24

 

5.62

 

Expected volatility

 

42.71

%

43.49

%

 

40.77

%

40.98

%

 

42.53

%

43.49

%

 

40.28

%

40.98

%

Expected dividend rate

 

 

 

 

0.00

%

 

 

 

 

0.00

%

 

 

 

 

0.00

%

 

 

 

 

0.00

%

Risk-free interest rate

 

1.78

%

2.51

%

 

2.70

%

2.86

%

 

1.78

%

2.60

%

 

2.37

%

2.86

%

 

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 

 

Six months ended 

 

June 30, 2018

 

June 30, 2018

Expected term (years)

 

 

 

2.75

 

 

2.72

 

2.75

 

Expected volatility

 

 

 

42.03

%

 

41.48

%

42.03

%

Expected dividend rate

 

 

 

0.00

%

 

 

 

 

0.00

%

Risk-free interest rate

 

 

 

2.58

%

 

2.36

%

2.58

%