Stock Based Compensation (Tables)
|
6 Months Ended |
Jun. 30, 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 six months ended June 30, 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 June 30, 2020
|
|
|
550,985
|
|
|
$
|
5.67
|
|
|
|
3.8
|
|
|
$
|
32,232
|
|
|
Exercisable at January 1, 2020
|
|
|
550,985
|
|
|
$
|
5.67
|
|
|
|
4.3
|
|
|
$
|
2,538
|
|
|
Vested
|
|
|
–
|
|
|
|
–
|
|
|
|
–
|
|
|
|
–
|
|
|
Exercised
|
|
|
–
|
|
|
|
–
|
|
|
|
–
|
|
|
|
–
|
|
|
Forfeited
|
|
|
–
|
|
|
|
–
|
|
|
|
–
|
|
|
|
–
|
|
|
Exercisable at June 30, 2020
|
|
|
550,985
|
|
|
$
|
5.67
|
|
|
|
3.8
|
|
|
$
|
32,232
|
|
|
| Schedule of Restricted Stock Units Activity |
A summary of the activity related to RSUs for the six months ended June 30, 2020 is presented below:
|
|
|
Total
|
|
|
Weighted
Average
Grant
Date Fair
Value
|
|
|
Outstanding at January 1, 2020
|
|
|
1,821,852
|
|
|
$
|
10.05
|
|
|
RSUs granted
|
|
|
758,031
|
|
|
$
|
1.25
|
|
|
RSUs forfeited
|
|
|
(128,213
|
)
|
|
$
|
8.66
|
|
|
RSUs vested
|
|
|
(629,554
|
)
|
|
$
|
9.11
|
|
|
Outstanding at June 30, 2020
|
|
|
1,822,116
|
|
|
$
|
6.81
|
|
|
| Summary of Activity Related to PSUs |
A summary of the activity related to PSUs for the six months ended June 30, 2020 is presented below:
|
|
|
Total
|
|
|
Weighted
Average Grant
Date Fair Value
|
|
|
Outstanding at January 1, 2020
|
|
|
428,000
|
|
|
$
|
2.09
|
|
|
PSUs granted
|
|
|
267,677
|
|
|
|
1.25
|
|
|
PSUs forfeited
|
|
|
(62,000
|
)
|
|
|
2.09
|
|
|
PSUs vested
|
|
|
–
|
|
|
|
–
|
|
|
Outstanding at June 30, 2020
|
|
|
633,677
|
|
|
|
1.74
|
|
|
| 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, 2020
|
|
|
Six Months Ended
June 30, 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 and six months ended June 30, 2020 and 2019:
|
|
|
Three Months Ended June 30,
|
|
|
Six Months Ended June 30,
|
|
|
|
|
2020
|
|
|
2019
|
|
|
2020
|
|
|
2019
|
|
|
RSUs
|
|
$
|
2,028,599
|
|
|
$
|
2,675,184
|
|
|
$
|
4,350,419
|
|
|
$
|
5,758,751
|
|
|
PSUs
|
|
|
–
|
|
|
|
–
|
|
|
|
(88,348
|
)
|
|
|
–
|
|
|
ESPP
|
|
|
41,308
|
|
|
|
122,749
|
|
|
|
84,135
|
|
|
|
210,574
|
|
|
Total
|
|
$
|
2,069,907
|
|
|
$
|
2,797,933
|
|
|
$
|
4,346,206
|
|
|
$
|
5,969,325
|
|
|
| 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,
|
|
|
|
|
2020
|
|
|
2019
|
|
|
2020
|
|
|
2019
|
|
|
Research and development
|
|
$
|
1,032,049
|
|
|
$
|
1,361,225
|
|
|
$
|
2,133,027
|
|
|
$
|
3,017,778
|
|
|
Sales and marketing
|
|
|
440,335
|
|
|
|
343,945
|
|
|
|
804,793
|
|
|
|
720,993
|
|
|
General and administrative
|
|
|
597,523
|
|
|
|
1,092,763
|
|
|
|
1,408,386
|
|
|
|
2,230,554
|
|
|
Total
|
|
$
|
2,069,907
|
|
|
$
|
2,797,933
|
|
|
$
|
4,346,206
|
|
|
$
|
5,969,325
|
|
|