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

 

(1,837)

 

1,837

 

$

18.00

 

 

 

 

 

 

Options exercised

 

 —

 

(2,138)

 

$

4.87

 

 

 

 

 

 

Options forfeited/cancelled

 

364

 

(364)

 

$

13.93

 

 

 

 

 

 

Balance at September 30, 2019

 

6,441

 

8,798

 

$

10.27

 

7.10

 

$

198,252

 

Exercisable at September 30, 2019

 

 

 

4,811

 

$

7.09

 

5.74

 

$

123,680

 

Vested and expected to vest at September 30, 2019

 

 

 

8,603

 

$

10.18

 

7.06

 

$

194,605

 

 

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

 

1,765

 

$

18.72

 

Vested

 

(419)

 

$

11.86

 

Canceled/forfeited

 

(161)

 

$

16.68

 

Balance at September 30, 2019

 

2,269

 

$

17.69

 

 

Summary of stock-based compensation expenses

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three months ended  September 30, 

 

 

2019

 

2018

 

    

Employee

    

Non-Employee

    

Total

    

Employee

    

Non-Employee

    

Total

 

 

(in thousands)

Cost of revenues

 

$

258

 

$

11

 

$

269

 

$

176

 

$

15

 

$

191

Research and development

 

 

1,580

 

 

 —

 

 

1,580

 

 

1,047

 

 

 —

 

 

1,047

Selling, general and administrative

 

 

8,312

 

 

86

 

 

8,398

 

 

2,292

 

 

86

 

 

2,378

Total

 

$

10,150

 

$

97

 

$

10,247

 

$

3,515

 

$

101

 

$

3,616

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Nine months ended September 30, 

 

 

 

2019

 

2018

 

 

    

Employee

    

Non-Employee

    

Total  

    

Employee

    

Non-Employee

    

Total  

 

 

 

(in thousands)

 

Cost of revenues

 

$

641

 

$

21

 

$

662

 

$

466

 

$

20

 

$

486

 

Research and development

 

 

3,738

 

 

 —

 

 

3,738

 

 

2,963

 

 

 —

 

 

2,963

 

Selling, general and administrative

 

 

15,184

 

 

518

 

 

15,702

 

 

6,606

 

 

83

 

 

6,689

 

Total

 

$

19,563

 

$

539

 

$

20,102

 

$

10,035

 

$

103

 

$

10,138

 

 

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, 

 

    

2019

    

    

2018

    

 

2019

 

2018

 

Expected term (years)

 

5.23

 

10.00

 

 

5.35

 

5.50

 

 

5.23

 

10.00

 

 

5.24

 

5.62

 

Expected volatility

 

43.07

%

45.84

%

 

40.59

%

41.05

%

 

42.53

%

45.84

%

 

40.28

%

41.05

%

Expected dividend rate

 

 

 

 

0.00

%

 

 

 

 

0.00

%

 

 

 

 

0.00

%

 

 

 

 

0.00

%

Risk-free interest rate

 

1.60

%

2.12

%

 

2.75

%

2.97

%

 

1.60

%

2.60

%

 

2.37

%

2.97

%

 

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 

 

Nine months ended 

 

September 30, 2018

 

September 30, 2018

Expected term (years)

 

 

 

2.76

 

 

2.72

 

2.76

 

Expected volatility

 

 

 

41.36

%

 

41.36

%

42.03

%

Expected dividend rate

 

 

 

0.00

%

 

 

 

 

0.00

%

Risk-free interest rate

 

 

 

2.86

%

 

2.36

%

2.86

%