Stock Based Compensation (Tables)
|
6 Months Ended |
Jun. 30, 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 six months ended June 30, 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
|
|
|
(180,604
|
)
|
|
|
5.44
|
|
|
|
–
|
|
|
|
–
|
|
|
Forfeited
|
|
|
–
|
|
|
|
–
|
|
|
|
–
|
|
|
|
–
|
|
|
Outstanding at June 30, 2018
|
|
|
856,635
|
|
|
$
|
4.66
|
|
|
|
5.9
|
|
|
$
|
8,710,866
|
|
|
Exercisable at January 1, 2018
|
|
|
1,037,239
|
|
|
$
|
4.80
|
|
|
|
6.4
|
|
|
$
|
15,198,044
|
|
|
Vested
|
|
|
–
|
|
|
|
–
|
|
|
|
–
|
|
|
|
–
|
|
|
Exercised
|
|
|
(180,604
|
)
|
|
|
5.44
|
|
|
|
–
|
|
|
|
–
|
|
|
Forfeited
|
|
|
–
|
|
|
|
–
|
|
|
|
–
|
|
|
|
–
|
|
|
Exercisable at June 30, 2018
|
|
|
856,635
|
|
|
$
|
4.66
|
|
|
|
5.9
|
|
|
$
|
8,710,866
|
|
|
| Schedule of Restricted Stock Units Activity |
A summary of the activity related to RSUs for the six months ended June 30, 2018 is presented below:
|
|
|
Total
|
|
|
Weighted
Average
Grant
Date Fair
Value
|
|
|
Outstanding at January 1, 2018
|
|
|
2,274,325
|
|
|
$
|
13.75
|
|
|
RSUs granted
|
|
|
903,876
|
|
|
$
|
19.70
|
|
|
RSUs forfeited
|
|
|
(92,119
|
)
|
|
$
|
14.56
|
|
|
RSUs vested
|
|
|
(446,048
|
)
|
|
$
|
14.02
|
|
|
Outstanding at June 30, 2018
|
|
|
2,640,034
|
|
|
$
|
15.71
|
|
|
| Summary of Activity Related to PSUs |
A summary of the activity related to PSUs for the six months ended June 30, 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 June 30, 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:
|
|
|
Six Months
Ended June 30, 2018
|
|
|
Six Months
Ended June 30, 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 and six months ended June 30, 2018 and 2017:
|
|
|
Three Months Ended June 30,
|
|
|
Six Months Ended June 30,
|
|
|
|
|
2018
|
|
|
2017
|
|
|
2018
|
|
|
2017
|
|
|
Stock options
|
|
$
|
-
|
|
|
$
|
265,599
|
|
|
$
|
-
|
|
|
$
|
491,982
|
|
|
RSUs
|
|
|
3,884,725
|
|
|
|
3,419,390
|
|
|
|
8,136,686
|
|
|
|
6,022,165
|
|
|
PSUs
|
|
|
204,954
|
|
|
|
587,433
|
|
|
|
407,656
|
|
|
|
1,201,293
|
|
|
ESPP
|
|
|
253,201
|
|
|
|
93,541
|
|
|
|
407,746
|
|
|
|
187,352
|
|
|
DSU
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,362
|
|
|
Total
|
|
$
|
4,342,880
|
|
|
$
|
4,365,963
|
|
|
$
|
8,952,088
|
|
|
$
|
7,904,154
|
|
|
| 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 June 30,
|
|
|
Six Months Ended June 30,
|
|
|
|
|
2018
|
|
|
2017
|
|
|
2018
|
|
|
2017
|
|
|
Research and development
|
|
$
|
2,483,693
|
|
|
$
|
2,326,720
|
|
|
$
|
5,542,223
|
|
|
$
|
4,084,622
|
|
|
Sales and marketing
|
|
|
388,533
|
|
|
|
279,015
|
|
|
|
669,891
|
|
|
|
500,848
|
|
|
General and administrative
|
|
|
1,470,654
|
|
|
|
1,760,228
|
|
|
|
2,739,974
|
|
|
|
3,318,684
|
|
|
Total
|
|
$
|
4,342,880
|
|
|
$
|
4,365,963
|
|
|
$
|
8,952,088
|
|
|
$
|
7,904,154
|
|
|