Stock Based Compensation (Tables)
|
3 Months Ended |
Mar. 31, 2020 |
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, 2020:
|
|
Number of
Options
|
|
|
Weighted
Average
Exercise
Price
|
|
|
Weighted
Average
Remaining
Life In
Years
|
|
|
Intrinsic
Value
|
|
Outstanding at January 1, 2020
|
|
|
550,985
|
|
|
$
|
5.67
|
|
|
|
4.3
|
|
|
$
|
2,538
|
|
Granted
|
|
|
–
|
|
|
|
–
|
|
|
|
–
|
|
|
|
–
|
|
Exercised
|
|
|
–
|
|
|
|
–
|
|
|
|
–
|
|
|
|
–
|
|
Forfeited
|
|
|
–
|
|
|
|
–
|
|
|
|
–
|
|
|
|
–
|
|
Outstanding at March 31, 2020
|
|
|
550,985
|
|
|
$
|
5.67
|
|
|
|
4.3
|
|
|
$
|
–
|
|
Exercisable at January 1, 2020
|
|
|
550,985
|
|
|
$
|
5.67
|
|
|
|
4.3
|
|
|
$
|
2,538
|
|
Vested
|
|
|
–
|
|
|
|
–
|
|
|
|
–
|
|
|
|
–
|
|
Exercised
|
|
|
–
|
|
|
|
–
|
|
|
|
–
|
|
|
|
–
|
|
Forfeited
|
|
|
–
|
|
|
|
–
|
|
|
|
–
|
|
|
|
–
|
|
Exercisable at March 31, 2020
|
|
|
550,985
|
|
|
$
|
5.67
|
|
|
|
4.3
|
|
|
$
|
–
|
|
|
Schedule of Restricted Stock Units Activity |
A summary of the activity related to RSUs for the three months ended March 31, 2020 is presented below:
|
|
Total
|
|
|
|
Weighted
Average
Grant
Date Fair
Value
|
|
Outstanding at January 1, 2020
|
|
|
1,821,852
|
|
|
|
$
|
10.05
|
|
RSUs granted
|
|
|
665,031
|
|
|
|
$
|
1.27
|
|
RSUs forfeited
|
|
|
(41,784
|
)
|
|
|
$
|
2.09
|
|
RSUs vested
|
|
|
(396,559
|
)
|
|
|
$
|
11.62
|
|
Outstanding at March 31, 2020
|
|
|
2,048,540
|
|
|
|
$
|
6.93
|
|
|
Summary of Activity Related to PSUs |
A summary of the activity related to PSUs for the three months ended March 31, 2020 is presented below:
|
|
Total
|
|
|
Weighted
Average Grant
Date Fair Value
|
|
Outstanding at January 1, 2020
|
|
|
428,000
|
|
|
$
|
2.09
|
|
PSUs granted
|
|
|
267,677
|
|
|
|
1.27
|
|
PSUs forfeited
|
|
|
(28,000
|
)
|
|
|
6.38
|
|
PSUs vested
|
|
|
–
|
|
|
|
–
|
|
Outstanding at March 31, 2020
|
|
|
667,677
|
|
|
|
1.76
|
|
|
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, 2020
|
|
|
Three Months Ended
March 31, 2019
|
|
Stock price
|
|
$
|
1.77
|
|
|
$
|
5.79
|
|
Dividend yield
|
|
|
0
|
%
|
|
|
0
|
%
|
Expected volatility
|
|
|
61
|
%
|
|
|
96
|
%
|
Risk-free interest rate
|
|
|
1.57
|
%
|
|
|
2.51
|
%
|
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, 2020 and 2019:
|
|
Three Months Ended March 31,
|
|
|
|
|
|
2020
|
|
|
2019
|
|
|
|
RSUs
|
|
|
2,321,820
|
|
|
$
|
3,083,567
|
|
|
|
PSUs
|
|
|
(88,348
|
)
|
|
|
–
|
|
|
|
ESPP
|
|
|
42,827
|
|
|
|
87,825
|
|
|
|
Total
|
|
$
|
2,276,299
|
|
|
$
|
3,171,392
|
|
|
|
|
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,
|
|
|
|
|
|
2020
|
|
|
2019
|
|
|
|
Research and development
|
|
$
|
1,100,978
|
|
|
$
|
1,656,553
|
|
|
|
Sales and marketing
|
|
|
364,458
|
|
|
|
377,048
|
|
|
|
General and administrative
|
|
|
810,863
|
|
|
|
1,137,791
|
|
|
|
Total
|
|
$
|
2,276,299
|
|
|
$
|
3,171,392
|
|
|
|
|