Stock Based Compensation (Tables)
|
9 Months Ended |
Sep. 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 nine months ended September 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 September 30, 2020
|
|
|
550,985
|
|
|
$
|
5.67
|
|
|
|
3.5
|
|
|
$
|
35,932
|
|
|
Exercisable at January 1, 2020
|
|
|
550,985
|
|
|
$
|
5.67
|
|
|
|
4.3
|
|
|
$
|
2,538
|
|
|
Vested
|
|
|
–
|
|
|
|
–
|
|
|
|
–
|
|
|
|
–
|
|
|
Exercised
|
|
|
–
|
|
|
|
–
|
|
|
|
–
|
|
|
|
–
|
|
|
Forfeited
|
|
|
–
|
|
|
|
–
|
|
|
|
–
|
|
|
|
–
|
|
|
Exercisable at September 30, 2020
|
|
|
550,985
|
|
|
$
|
5.67
|
|
|
|
3.5
|
|
|
$
|
35,932
|
|
|
| Schedule of Restricted Stock Units Activity |
A summary of the activity related to RSUs for the nine months ended September 30, 2020 is presented below:
|
|
|
Total
|
|
|
Weighted
Average
Grant
Date Fair
Value
|
|
|
Outstanding at January 1, 2020
|
|
|
1,821,852
|
|
|
$
|
10.05
|
|
|
RSUs granted
|
|
|
844,781
|
|
|
$
|
1.27
|
|
|
RSUs forfeited
|
|
|
(142,224
|
)
|
|
$
|
8.47
|
|
|
RSUs vested
|
|
|
(991,162
|
)
|
|
$
|
8.44
|
|
|
Outstanding at September 30, 2020
|
|
|
1,533,247
|
|
|
$
|
6.52
|
|
|
| Summary of Activity Related to PSUs |
A summary of the activity related to PSUs for the nine months ended September 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
|
|
|
|
1.27
|
|
|
PSUs forfeited
|
|
|
(74,000
|
)
|
|
|
2.09
|
|
|
PSUs vested
|
|
|
–
|
|
|
|
–
|
|
|
Outstanding at September 30, 2020
|
|
|
621,677
|
|
|
|
1.74
|
|
|
| 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, 2020
|
|
|
Nine Months Ended
September 30, 2019
|
|
|
Stock price
|
|
$1.77 - $2.96
|
|
|
$4.27 - $5.79
|
|
|
Dividend yield
|
|
|
0%
|
|
|
|
0%
|
|
|
Expected volatility
|
|
61% - 182%
|
|
|
83% - 96%
|
|
|
Risk-free interest rate
|
|
0.17% - 1.57%
|
|
|
2.10% - 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 nine months ended September 30, 2020 and 2019:
|
|
|
Three Months Ended September 30,
|
|
|
Nine Months Ended September 30,
|
|
|
|
|
2020
|
|
|
2019
|
|
|
2020
|
|
|
2019
|
|
|
RSUs
|
|
|
1,876,686
|
|
|
$
|
2,037,620
|
|
|
|
6,227,105
|
|
|
$
|
7,796,371
|
|
|
PSUs
|
|
|
–
|
|
|
|
–
|
|
|
|
(88,348
|
)
|
|
|
–
|
|
|
ESPP
|
|
|
96,056
|
|
|
|
62,055
|
|
|
|
180,191
|
|
|
|
272,629
|
|
|
Total
|
|
$
|
1,972,742
|
|
|
$
|
2,099,675
|
|
|
$
|
6,318,948
|
|
|
$
|
8,069,000
|
|
|
| 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,
|
|
|
|
|
2020
|
|
|
2019
|
|
|
2020
|
|
|
2019
|
|
|
Research and development
|
|
$
|
922,858
|
|
|
$
|
1,154,680
|
|
|
$
|
3,055,885
|
|
|
$
|
4,172,458
|
|
|
Sales and marketing
|
|
|
385,171
|
|
|
|
390,192
|
|
|
|
1,189,964
|
|
|
|
1,111,185
|
|
|
General and administrative
|
|
|
664,713
|
|
|
|
554,803
|
|
|
|
2,073,099
|
|
|
|
2,785,357
|
|
|
Total
|
|
$
|
1,972,742
|
|
|
$
|
2,099,675
|
|
|
$
|
6,318,948
|
|
|
$
|
8,069,000
|
|
|