Stock Based Compensation (Tables)
|
3 Months Ended |
Mar. 31, 2019 |
|---|
| 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, 2019:
|
|
|
Number of
Options
|
|
|
Weighted
Average
Exercise
Price
|
|
|
Weighted
Average
Remaining
Life In
Years
|
|
|
Intrinsic
Value
|
|
|
Outstanding at January 1, 2019
|
|
|
656,494
|
|
|
$
|
5.57
|
|
|
|
4.6
|
|
|
$
|
252,887
|
|
|
Granted
|
|
|
–
|
|
|
|
–
|
|
|
|
–
|
|
|
|
–
|
|
|
Exercised
|
|
|
(80,201
|
)
|
|
|
4.99
|
|
|
|
–
|
|
|
|
–
|
|
|
Forfeited
|
|
|
–
|
|
|
|
–
|
|
|
|
–
|
|
|
|
–
|
|
|
Outstanding at March 31, 2019
|
|
|
576,293
|
|
|
$
|
5.65
|
|
|
|
5.0
|
|
|
$
|
794,214
|
|
|
Exercisable at January 1, 2019
|
|
|
656,494
|
|
|
$
|
5.57
|
|
|
|
4.6
|
|
|
$
|
252,887
|
|
|
Vested
|
|
|
–
|
|
|
|
–
|
|
|
|
–
|
|
|
|
–
|
|
|
Exercised
|
|
|
(80,201
|
)
|
|
|
4.99
|
|
|
|
–
|
|
|
|
–
|
|
|
Forfeited
|
|
|
–
|
|
|
|
–
|
|
|
|
–
|
|
|
|
–
|
|
|
Exercisable at March 31, 2019
|
|
|
576,293
|
|
|
$
|
5.65
|
|
|
|
5.0
|
|
|
$
|
794,214
|
|
|
| Schedule of Restricted Stock Units Activity |
A summary of the activity related to RSUs for the three months ended March 31, 2019 is presented below:
|
|
|
Total
|
|
|
Weighted
Average
Grant
Date Fair
Value
|
|
|
Outstanding at January 1, 2019
|
|
|
2,469,174
|
|
|
$
|
15.07
|
|
|
RSUs granted
|
|
|
494,237
|
|
|
$
|
6.16
|
|
|
RSUs forfeited
|
|
|
(205,882
|
)
|
|
$
|
15.28
|
|
|
RSUs vested
|
|
|
(434,522
|
)
|
|
$
|
15.97
|
|
|
Outstanding at March 31, 2019
|
|
|
2,323,007
|
|
|
$
|
12.99
|
|
|
| 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, 2019
|
|
|
Three Months Ended
March 31, 2018
|
|
|
Stock price
|
|
$
|
5.79
|
|
|
$
|
22.34
|
|
|
Dividend yield
|
|
|
0
|
%
|
|
|
0
|
%
|
|
Expected volatility
|
|
|
96
|
%
|
|
|
177
|
%
|
|
Risk-free interest rate
|
|
|
2.51
|
%
|
|
|
1.61
|
%
|
|
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, 2019 and 2018:
|
|
|
Three Months Ended March 31,
|
|
|
|
|
|
2019
|
|
|
2018
|
|
|
|
RSUs
|
|
|
3,083,567
|
|
|
$
|
4,251,961
|
|
|
|
PSUs
|
|
|
–
|
|
|
|
202,702
|
|
|
|
ESPP
|
|
|
87,825
|
|
|
|
154,545
|
|
|
|
Total
|
|
$
|
3,171,392
|
|
|
$
|
4,609,208
|
|
|
|
| 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,
|
|
|
|
|
|
2019
|
|
|
2018
|
|
|
|
Research and development
|
|
$
|
1,656,553
|
|
|
$
|
3,058,530
|
|
|
|
Sales and marketing
|
|
|
377,048
|
|
|
|
281,358
|
|
|
|
General and administrative
|
|
|
1,137,791
|
|
|
|
1,269,320
|
|
|
|
Total
|
|
$
|
3,171,392
|
|
|
$
|
4,609,208
|
|
|
|