Stock Based Compensation (Tables)
|
9 Months Ended |
Sep. 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 nine months ended September 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
|
|
|
(380,745
|
)
|
|
|
3.47
|
|
|
|
–
|
|
|
|
–
|
|
|
Forfeited
|
|
|
–
|
|
|
|
–
|
|
|
|
–
|
|
|
|
–
|
|
|
Outstanding at September 30, 2018
|
|
|
656,494
|
|
|
$
|
5.57
|
|
|
|
4.9
|
|
|
$
|
2,986,926
|
|
|
Exercisable at January 1, 2018
|
|
|
1,037,239
|
|
|
$
|
4.80
|
|
|
|
6.4
|
|
|
$
|
15,198,044
|
|
|
Vested
|
|
|
–
|
|
|
|
–
|
|
|
|
–
|
|
|
|
–
|
|
|
Exercised
|
|
|
(380,745
|
)
|
|
|
3.47
|
|
|
|
–
|
|
|
|
–
|
|
|
Forfeited
|
|
|
–
|
|
|
|
–
|
|
|
|
–
|
|
|
|
–
|
|
|
Exercisable at September 30, 2018
|
|
|
656,494
|
|
|
$
|
5.57
|
|
|
|
4.9
|
|
|
$
|
2,986,926
|
|
|
| Schedule of Restricted Stock Units Activity |
A summary of the activity related to RSUs for the nine months ended September 30, 2018 is presented below:
|
|
|
Total
|
|
|
Weighted
Average
Grant
Date Fair
Value
|
|
|
Outstanding at January 1, 2018
|
|
|
2,274,325
|
|
|
$
|
13.75
|
|
|
RSUs granted
|
|
|
924,376
|
|
|
$
|
19.54
|
|
|
RSUs forfeited
|
|
|
(178,058
|
)
|
|
$
|
14.10
|
|
|
RSUs vested
|
|
|
(743,647
|
)
|
|
$
|
13.80
|
|
|
Outstanding at September 30, 2018
|
|
|
2,276,996
|
|
|
$
|
16.02
|
|
|
| Summary of Activity Related to PSUs |
A summary of the activity related to PSUs for the nine months ended September 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 September 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:
|
|
|
Nine Months Ended
September 30, 2018
|
|
|
Nine Months Ended
September 30, 2017
|
|
|
Stock price
|
|
$14.48 - $22.34
|
|
|
$16.08 - $17.59
|
|
|
Dividend yield
|
|
|
0
|
%
|
|
|
0
|
%
|
|
Expected volatility
|
|
72% - 177%
|
|
|
56% - 66%
|
|
|
Risk-free interest rate
|
|
1.61% - 2.14%
|
|
|
0.62% - 1.11%
|
|
|
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 nine months ended September 30, 2018 and 2017:
|
|
|
Three Months Ended September 30,
|
|
|
Nine Months Ended September 30,
|
|
|
|
|
2018
|
|
|
2017
|
|
|
2018
|
|
|
2017
|
|
|
Stock options
|
|
$
|
-
|
|
|
$
|
246,617
|
|
|
$
|
-
|
|
|
$
|
738,599
|
|
|
RSUs
|
|
|
3,578,276
|
|
|
|
3,843,186
|
|
|
|
11,714,962
|
|
|
|
9,865,351
|
|
|
PSUs
|
|
|
207,206
|
|
|
|
399,867
|
|
|
|
614,862
|
|
|
|
1,601,160
|
|
|
ESPP
|
|
|
67,174
|
|
|
|
79,046
|
|
|
|
474,920
|
|
|
|
266,398
|
|
|
DSU
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
1,362
|
|
|
Total
|
|
$
|
3,852,656
|
|
|
$
|
4,568,716
|
|
|
$
|
12,804,744
|
|
|
$
|
12,472,870
|
|
|
| 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 September 30,
|
|
|
Nine Months Ended September 30,
|
|
|
|
|
2018
|
|
|
2017
|
|
|
2018
|
|
|
2017
|
|
|
Research and development
|
|
$
|
2,051,986
|
|
|
$
|
2,558,472
|
|
|
$
|
7,594,209
|
|
|
$
|
6,643,094
|
|
|
Sales and marketing
|
|
|
352,941
|
|
|
|
281,518
|
|
|
|
1,022,832
|
|
|
|
782,366
|
|
|
General and administrative
|
|
|
1,447,729
|
|
|
|
1,728,726
|
|
|
|
4,187,703
|
|
|
|
5,047,410
|
|
|
Total
|
|
$
|
3,852,656
|
|
|
$
|
4,568,716
|
|
|
$
|
12,804,744
|
|
|
$
|
12,472,870
|
|
|