Stock Based Compensation (Tables)
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12 Months Ended |
Dec. 31, 2016 |
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| Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
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| Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] |
The following is a summary of the Company’s stock option activity during the year ended December 31, 2016:
| | | | | | | Weighted | | | | | | | | | Weighted | | Average | | | | | | | | | Average | | Remaining | | | | | | | Number of | | Exercise | | Life In | | Intrinsic | | | | | Options | | Price | | Years | | Value | | | Outstanding at January 1, 2016 | | | 1,487,785 | | $ | 4.34 | | | 8.0 | | $ | 5,310,340 | | | Granted | | | - | | | - | | | - | | | - | | | Exercised | | | (130,354) | | | 2.93 | | | - | | | - | | | Forfeited | | | (47,987) | | | 2.49 | | | - | | | - | | | Outstanding at December 31, 2016 | | | 1,309,444 | | $ | 4.55 | | | 7.1 | | $ | 16,107,929 | | | | | | | | | | | | | | | | | | Exercisable at December 31, 2016 | | | 1,057,187 | | $ | 4.55 | | | 7.1 | | $ | 12,998,601 | |
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| Schedule of Nonvested Restricted Stock Units Activity [Table Text Block] |
A summary of the activity related to RSUs for the year ended December 31, 2016 is presented below:
| | | | Weighted | | | | | | Average Grant | | | | | Total | | Date Fair Value | | | Outstanding at January 1, 2016 | | | 1,560,996 | | $ | 8.83 | | | RSUs granted | | | 1,110,156 | | $ | 14.18 | | | RSUs forfeited | | | (107,529) | | $ | 9.62 | | | RSUs vested | | | (511,400) | | $ | 9.16 | | | Outstanding at December 31, 2016 | | | 2,052,223 | | $ | 11.58 | |
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| Schedule of Share-based Compensation Arrangement by Share-based Payment Award, Performance-Based Units, Vested and Expected to Vest [Table Text Block] |
Grantees of PSUs are required to be employed through December 31, 2018 in order to earn the entire award, if and when vested.
| | | Performance Share | | | Performance Share | | | | | Units (PSUs) Granted | | | Units (PSUs) Granted | | | | | During the Year Ended | | | During the Year Ended | | | | | December 31, 2016 | | | December 31, 2015 | | | Market capitalization | | $ | 102,600,000 | | | $ | 106,270,000 | | | Dividend yield | | | 0 | % | | | 0 | % | | Expected volatility | | | 75 | % | | | 60 | % | | Risk-free interest rate | | | 1.04 | % | | | 0.95 | % |
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| Share-based Compensation, Performance Shares Award Outstanding Activity [Table Text Block] |
A summary of the activity related to PSUs for the year ended December 31, 2016 is presented below:
| | | | Weighted | | | | | | Average Grant | | | | | Total | | Date Fair Value | | | Outstanding at January 1, 2016 | | | 1,135,614 | | $ | 2.62 | | | PSUs granted | | | 213,908 | | $ | 11.84 | | | PSUs forfeited | | | - | | $ | - | | | PSUs vested | | | (195,905) | | $ | 6.60 | | | Outstanding at December 31, 2016 | | | 1,153,617 | | $ | 3.66 | |
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| Share Based Compensation Deferred Stock Units Activity [Table Text Block] |
A summary of the activity related to DSUs for the year ended December 31, 2016 is presented below:
| | | | | Weighted | | | | | | | Average Grant | | | | | Total | | Date Fair Value | | | Outstanding at January 1, 2016 | | | - | | $ | - | | | DSUs granted | | | 14,953 | | $ | 8.36 | | | DSUs forfeited | | | - | | $ | - | | | DSUs vested | | | - | | $ | - | | | Outstanding at December 31, 2016 | | | 14,953 | | $ | 8.36 | |
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| Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] |
The fair values of the purchase options granted were estimated using the following assumptions:
| | | For the Year Ended | | | | | December 31, 2016 | | | Stock price range | | $ | 8.36 - 12.16 | | | Dividend yield | | | 0 | % | | Expected volatility range | | | 56 - 100 | % | | Risk-free interest rate range | | | 0.37 – 0.49 | % | | Expected life | | | 6 months | |
| | | For the Year Ended | | | | | December 31, 2015 | | | Stock price | | $ | 7.41 | | | Dividend yield | | | 0 | % | | Expected volatility | | | 65 | % | | Risk-free interest rate | | | 0.13 | % | | Expected life | | | 6 months | |
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| Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block] |
The following tables summarize total stock-based compensation costs recognized for years ended December 31, 2016, 2015 and 2014:
| | | For the Years Ended December 31, | | | | | 2016 | | 2015 | | 2014 | | | Stock options | | $ | 1,045,081 | | $ | 1,037,399 | | $ | 1,333,943 | | | RSUs | | | 5,735,032 | | | 4,225,728 | | | 900,063 | | | PSUs | | | 2,285,683 | | | 489,239 | | | - | | | DSUs | | | 123,644 | | | - | | | - | | | ESPP | | | 318,735 | | | 113,217 | | | - | | | IR warrants | | | - | | | 85,831 | | | 263,972 | | | Shares issued to consultant for services rendered | | | - | | | - | | | 50,000 | | | Total | | $ | 9,508,175 | | $ | 5,951,414 | | $ | 2,547,978 | |
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| Schedule of Compensation Cost for Share-based Payment Arrangements, Allocation of Share-based Compensation Costs by Plan [Table Text Block] |
The total amount of stock-based compensation was reflected within the statements of operations as:
| | | For the Years Ended December 31, | | | | | 2016 | | 2015 | | 2014 | | | Research and development | | $ | 4,226,304 | | $ | 2,816,707 | | $ | 924,702 | | | Sales and marketing | | | 328,760 | | | 729,329 | | | 583,238 | | | General and administrative | | | 4,953,111 | | | 2,405,378 | | | 1,040,038 | | | Total | | $ | 9,508,175 | | $ | 5,951,414 | | $ | 2,547,978 | |
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