Stock Based Compensation (Tables)
|
12 Months Ended |
Dec. 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 year ended December 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
|
|
|
(25,308
|
)
|
|
|
5.33
|
|
|
|
—
|
|
|
|
—
|
|
Outstanding at December 31, 2019
|
|
|
550,985
|
|
|
$
|
5.67
|
|
|
|
4.3
|
|
|
$
|
2,538
|
|
Exercisable at December 31, 2019
|
|
|
550,985
|
|
|
$
|
5.67
|
|
|
|
4.3
|
|
|
$
|
2,538
|
|
|
Schedule of Restricted Stock Units Activity |
A summary of the activity related to RSUs for the year ended December 31, 2019 is presented below:
|
|
Total
|
|
|
Weighted
Average Grant
Date Fair Value
|
|
Outstanding at January 1, 2019
|
|
|
2,469,174
|
|
|
$
|
15.07
|
|
RSUs granted
|
|
|
1,120,401
|
|
|
$
|
4.10
|
|
RSUs forfeited
|
|
|
(656,906
|
)
|
|
$
|
14.23
|
|
RSUs vested
|
|
|
(1,110,817
|
)
|
|
$
|
12.73
|
|
Outstanding at December 31, 2019
|
|
|
1,821,852
|
|
|
$
|
10.05
|
|
|
Summary of Activity Related to PSUs |
A summary of the activity related to PSUs for the year ended December 31, 2019 is presented below:
|
|
Total
|
|
|
Weighted
Average Grant
Date Fair Value
|
|
Outstanding at January 1, 2019
|
|
|
—
|
|
|
$
|
—
|
|
PSUs granted
|
|
|
434,000
|
|
|
$
|
2.09
|
|
PSUs forfeited
|
|
|
(6,000
|
)
|
|
$
|
2.09
|
|
PSUs vested
|
|
|
—
|
|
|
$
|
—
|
|
Outstanding at December 31, 2019
|
|
|
428,000
|
|
|
$
|
2.09
|
|
|
Summary of Fair Values of Purchase Options Granted |
The fair values of the purchase options granted were estimated using the following assumptions:
|
For the Year Ended
December 31, 2019
|
Stock price range
|
$
|
4.27 – 5.79
|
|
Dividend yield
|
|
0
|
%
|
Expected volatility range
|
|
83 – 96
|
%
|
Risk-free interest rate range
|
|
2.10 – 2.51
|
%
|
Expected life
|
|
6 months
|
|
|
|
|
|
|
For the Year Ended
December 31, 2018
|
Stock price range
|
$
|
14.48 – 22.34
|
|
Dividend yield
|
|
0
|
%
|
Expected volatility range
|
|
72 – 177
|
%
|
Risk-free interest rate range
|
|
1.61 – 2.14
|
%
|
Expected life
|
|
6 months
|
|
|
|
|
|
|
Summary of Stock-based Compensation Costs Recognized |
The following tables summarize total stock-based compensation costs recognized for years ended December 31, 2019 and 2018:
|
|
For the Years Ended December 31,
|
|
|
|
2019
|
|
|
2018
|
|
RSUs
|
|
$
|
10,190,211
|
|
|
$
|
15,359,011
|
|
PSUs
|
|
|
88,348
|
|
|
|
819,816
|
|
ESPP
|
|
|
368,021
|
|
|
|
574,927
|
|
Total
|
|
$
|
10,646,580
|
|
|
$
|
16,753,754
|
|
|
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:
|
|
For the Years Ended December 31,
|
|
|
|
2019
|
|
|
2018
|
|
Research and development
|
|
$
|
5,419,627
|
|
|
$
|
9,676,156
|
|
Sales and marketing
|
|
|
1,561,319
|
|
|
|
1,416,136
|
|
General and administrative
|
|
|
3,665,634
|
|
|
|
5,661,462
|
|
Total
|
|
$
|
10,646,580
|
|
|
$
|
16,753,754
|
|
|