Stock Based Compensation (Tables)
|
9 Months Ended |
Sep. 30, 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 nine months ended September 30, 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
|
|
|
(9,540
|
)
|
|
|
4.23
|
|
|
|
–
|
|
|
|
–
|
|
|
Outstanding at September 30, 2019
|
|
|
566,753
|
|
|
$
|
5.67
|
|
|
|
4.5
|
|
|
$
|
46,320
|
|
|
Exercisable at January 1, 2019
|
|
|
656,494
|
|
|
$
|
5.57
|
|
|
|
4.6
|
|
|
$
|
252,887
|
|
|
Vested
|
|
|
–
|
|
|
|
–
|
|
|
|
–
|
|
|
|
–
|
|
|
Exercised
|
|
|
(80,201
|
)
|
|
|
4.99
|
|
|
|
–
|
|
|
|
–
|
|
|
Forfeited
|
|
|
(9,540
|
)
|
|
|
4.23
|
|
|
|
–
|
|
|
|
–
|
|
|
Exercisable at September 30, 2019
|
|
|
566,753
|
|
|
$
|
5.67
|
|
|
|
4.5
|
|
|
$
|
46,320
|
|
|
| Schedule of Restricted Stock Units Activity |
A summary of the activity related to RSUs for the nine months ended September 30, 2019 is presented below:
|
|
|
Total
|
|
|
Weighted
Average
Grant
Date Fair
Value
|
|
|
Outstanding at January 1, 2019
|
|
|
2,469,174
|
|
|
$
|
15.07
|
|
|
RSUs granted
|
|
|
640,426
|
|
|
$
|
5.57
|
|
|
RSUs forfeited
|
|
|
(598,316
|
)
|
|
$
|
14.38
|
|
|
RSUs vested
|
|
|
(903,796
|
)
|
|
$
|
14.01
|
|
|
Outstanding at September 30, 2019
|
|
|
1,607,488
|
|
|
$
|
12.14
|
|
|
| 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, 2019
|
|
|
Nine Months Ended
September 30, 2018
|
|
|
Stock price
|
|
$4.27 - $5.79
|
|
|
$14.48 - $22.34
|
|
|
Dividend yield
|
|
|
0
|
%
|
|
|
0
|
%
|
|
Expected volatility
|
|
83% - 96%
|
|
|
72% - 177%
|
|
|
Risk-free interest rate
|
|
2.10% - 2.51%
|
|
|
1.61% - 2.14%
|
|
|
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, 2019 and 2018:
|
|
|
Three Months Ended September 30,
|
|
|
Nine Months Ended September 30,
|
|
|
|
|
|
2019
|
|
|
2018
|
|
|
2019
|
|
|
2018
|
|
|
|
RSUs
|
|
|
2,037,620
|
|
|
$
|
3,578,276
|
|
|
|
7,796,371
|
|
|
$
|
11,714,962
|
|
|
|
PSUs
|
|
|
–
|
|
|
|
207,206
|
|
|
|
–
|
|
|
|
614,862
|
|
|
|
ESPP
|
|
|
62,055
|
|
|
|
67,174
|
|
|
|
272,629
|
|
|
|
474,920
|
|
|
|
Total
|
|
$
|
2,099,675
|
|
|
$
|
3,852,656
|
|
|
$
|
8,069,000
|
|
|
$
|
12,804,744
|
|
|
|
| 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,
|
|
|
|
|
|
2019
|
|
|
2018
|
|
|
2019
|
|
|
2018
|
|
|
|
Research and development
|
|
$
|
1,154,680
|
|
|
$
|
2,051,986
|
|
|
$
|
4,172,458
|
|
|
$
|
7,594,209
|
|
|
|
Sales and marketing
|
|
|
390,192
|
|
|
|
352,941
|
|
|
|
1,111,185
|
|
|
|
1,022,832
|
|
|
|
General and administrative
|
|
|
554,803
|
|
|
|
1,447,729
|
|
|
|
2,785,357
|
|
|
|
4,187,703
|
|
|
|
Total
|
|
$
|
2,099,675
|
|
|
$
|
3,852,656
|
|
|
$
|
8,069,000
|
|
|
$
|
12,804,744
|
|
|
|