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Equity Incentive Plans (Tables)
3 Months Ended
Mar. 31, 2018
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Schedule of Stock Option Plans

A summary of the status of the Company’s option plans as of March 31, 2018 and changes during the period then ended is presented below: 

 

 

 

Three months ended March 31, 2018

 

 

 

Unaudited

 

 

 

Number

of options

 

 

Weighted

average

exercise

price

 

Outstanding at beginning of year

 

 

14,806,027

 

 

$

10.64

 

Granted

 

 

1,904,634

 

 

 

21.15

 

Exercised

 

 

(500,166

)

 

 

5.27

 

Forfeited and cancelled

 

 

(71,307

)

 

 

11.86

 

Outstanding as of March 31, 2018

 

 

16,139,188

 

 

$

12.04

 

 

 

 

 

 

 

 

 

 

Exercisable options

 

 

7,375,692

 

 

$

9.31

 

 

 

 

 

 

 

 

 

 

 

Schedule of RSU's

A summary of the status of the Company’s RSUs as of March 31, 2018 and changes during the period then ended is presented below: 

 

 

 

Three months ended March 31, 2018

 

 

 

Unaudited

 

 

 

Number

of RSUs

 

 

Weighted

average

grant date fair value

price

 

Unvested at beginning of year

 

 

1,651,219

 

 

$

9.66

 

Granted

 

 

427,518

 

 

 

21.15

 

Vested

 

 

(256,578

)

 

 

7.15

 

Forfeited and cancelled

 

 

(7,669

)

 

 

8.49

 

Unvested as of March 31, 2018

 

 

1,814,490

 

 

$

12.73

 

 

Schedule of Fair Value Assumptions Used for All Equity Based Awards Estimated Using Black-Scholes Option Pricing Model

The fair value of share-based awards was estimated using the Black-Scholes model for all equity grants. For market condition awards, the Company also applied the Monte-Carlo simulation model, with the following underlying assumptions: 

 

 

 

Three months ended March 31,

 

 

Year ended

December 31,

 

 

2018

 

 

2017

 

 

2017

 

 

Unaudited

 

 

Audited

Stock Option Plans

 

 

 

 

 

 

 

 

 

 

Expected term (years)

 

6.25

 

 

6.25

 

 

5.5-6.25

Expected volatility

 

 

55.04

%

 

 

59.15

%

 

56.74%-59.45%

Risk-free interest rate

 

 

2.77

%

 

 

2.23

%

 

1.97%-2.23%

Dividend yield

 

0.00%

 

 

0.00%

 

 

0.00%

ESPP

 

 

 

 

 

 

 

 

 

 

Expected term (years)

 

0.50

 

 

0.50

 

 

0.50

Expected volatility

 

 

52.58

%

 

82.00%

 

 

76.37%-82.00%

Risk-free interest rate

 

 

1.61

%

 

0.62%

 

 

0.62%-1.13%

Dividend yield

 

0.00%

 

 

0.00%

 

 

0.00%

 

Schedule of Non-cash Share-based Compensation Expense Related to Company's Equity-Based Awards

The total non-cash share-based compensation expense related to all of the Company’s equity-based awards recognized for the three months ended March 31, 2018 and 2017 and the year ended December 31, 2017 was:

 

 

 

Three months ended March 31,

 

 

Year ended

December 31,

 

 

 

2018

 

 

2017

 

 

2017

 

 

 

Unaudited

 

 

Audited

 

Cost of revenues

 

$

164

 

 

$

143

 

 

$

467

 

Research, development and clinical trials

 

 

906

 

 

 

862

 

 

 

3,587

 

Sales and marketing

 

 

1,436

 

 

 

655

 

 

 

3,784

 

General and administrative

 

 

6,014

 

 

 

2,901

 

 

 

19,278

 

Total share-based compensation expense

 

$

8,520

 

 

$

4,561

 

 

$

27,116