Stock Based Compensation (Tables)
|
3 Months Ended |
Mar. 31, 2018 |
|---|
| Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] |
|
| Summary of Stock Option Activity |
The following is a summary of the Company’s stock option activity during the three months ended March 31, 2018:
|
|
|
Number of
Options
|
|
|
Weighted
Average
Exercise
Price
|
|
|
Weighted
Average
Remaining
Life In
Years
|
|
|
Intrinsic
Value
|
|
|
Outstanding at January 1, 2018
|
|
|
1,037,239
|
|
|
$
|
4.80
|
|
|
|
6.4
|
|
|
$
|
15,198,044
|
|
|
Granted
|
|
|
–
|
|
|
|
–
|
|
|
|
–
|
|
|
|
–
|
|
|
Exercised
|
|
|
(179,732
|
)
|
|
|
5.46
|
|
|
|
–
|
|
|
|
–
|
|
|
Forfeited
|
|
|
–
|
|
|
|
–
|
|
|
|
–
|
|
|
|
–
|
|
|
Outstanding at March 31, 2018
|
|
|
857,507
|
|
|
$
|
4.66
|
|
|
|
6.2
|
|
|
$
|
9,750,635
|
|
|
Exercisable at January 1, 2018
|
|
|
1,037,239
|
|
|
$
|
4.80
|
|
|
|
6.4
|
|
|
$
|
15,198,044
|
|
|
Vested
|
|
|
–
|
|
|
|
–
|
|
|
|
–
|
|
|
|
–
|
|
|
Exercised
|
|
|
(179,732
|
)
|
|
|
5.46
|
|
|
|
–
|
|
|
|
–
|
|
|
Forfeited
|
|
|
–
|
|
|
|
–
|
|
|
|
–
|
|
|
|
–
|
|
|
Exercisable at March 31, 2018
|
|
|
857,507
|
|
|
$
|
4.66
|
|
|
|
6.2
|
|
|
$
|
9,750,635
|
|
|
| Schedule of Restricted Stock Units Activity |
A summary of the activity related to RSUs for the three months ended March 31, 2018 is presented below:
|
|
|
Total
|
|
|
Weighted
Average
Grant
Date Fair
Value
|
|
|
Outstanding at January 1, 2018
|
|
|
2,274,325
|
|
|
$
|
13.75
|
|
|
RSUs granted
|
|
|
740,766
|
|
|
$
|
20.32
|
|
|
RSUs forfeited
|
|
|
(31,750
|
)
|
|
$
|
12.76
|
|
|
RSUs vested
|
|
|
(341,936
|
)
|
|
$
|
14.59
|
|
|
Outstanding at March 31, 2018
|
|
|
2,641,405
|
|
|
$
|
15.50
|
|
|
| Summary of Activity Related to PSUs |
A summary of the activity related to PSUs for the three months ended March 31, 2018 is presented below:
|
|
|
Total
|
|
|
Weighted
Average Grant
Date Fair Value
|
|
|
Outstanding at January 1, 2018
|
|
|
951,657
|
|
|
$
|
2.65
|
|
|
PSUs granted
|
|
|
–
|
|
|
|
-
|
|
|
PSUs forfeited
|
|
|
–
|
|
|
|
-
|
|
|
PSUs vested
|
|
|
(80,098
|
)
|
|
|
2.65
|
|
|
Outstanding at March 31, 2018
|
|
|
871,559
|
|
|
|
2.65
|
|
|
| Summary of Fair Values of Stock Options Granted |
The fair values of stock options granted were estimated using the following assumptions:
|
|
|
Three Months
Ended March
31, 2018
|
|
|
Three Months
Ended March
31, 2017
|
|
|
Stock price
|
|
$
|
22.34
|
|
|
$
|
17.59
|
|
|
Dividend yield
|
|
|
0
|
%
|
|
|
0
|
%
|
|
Expected volatility
|
|
|
177
|
%
|
|
|
66
|
%
|
|
Risk-free interest rate
|
|
|
1.61
|
%
|
|
|
0.62
|
%
|
|
Expected life
|
|
6 months
|
|
|
6 months
|
|
|
| Summary of Stock-based Compensation Costs Recognized |
The following tables summarize total stock-based compensation costs recognized for the three months ended March 31, 2018 and 2017:
|
|
|
Three Months Ended March 31,
|
|
|
|
|
2018
|
|
|
2017
|
|
|
Stock options
|
|
$
|
-
|
|
|
$
|
226,383
|
|
|
RSUs
|
|
|
4,251,961
|
|
|
|
2,602,775
|
|
|
PSUs
|
|
|
202,702
|
|
|
|
613,860
|
|
|
ESPP
|
|
|
154,545
|
|
|
|
93,811
|
|
|
DSUs
|
|
-
|
|
|
|
1,362
|
|
|
Total
|
|
$
|
4,609,208
|
|
|
$
|
3,538,191
|
|
|
| Summary of Stock-based Compensation Reflected within Statements of Operations |
The total amount of stock-based compensation was reflected within the statements of operations as:
|
|
|
Three Months Ended March 31,
|
|
|
|
|
2018
|
|
|
2017
|
|
|
Research and development
|
|
$
|
3,058,530
|
|
|
$
|
1,757,902
|
|
|
Sales and marketing
|
|
|
281,358
|
|
|
|
221,833
|
|
|
General and administrative
|
|
|
1,269,320
|
|
|
|
1,558,456
|
|
|
Total
|
|
$
|
4,609,208
|
|
|
$
|
3,538,191
|
|
|