Stock Plans (Tables)
|
3 Months Ended |
Mar. 31, 2020 |
|---|
| Schedule of Stock-based Compensation Expense |
The Company’s stock-based compensation expense recognized for the periods presented was as follows:
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|
Three Months Ended
|
|
|
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|
March 31,
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|
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|
|
2020
|
|
|
2019
|
|
|
Stock-based compensation expense by type of award:
|
|
|
|
|
|
|
|
|
|
Restricted stock units
|
|
$
|
142
|
|
|
$
|
198
|
|
|
Restricted stock awards
|
|
|
62
|
|
|
|
160
|
|
|
Machine Box contingent common stock issuances
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|
|
—
|
|
|
|
704
|
|
|
Performance-based stock options
|
|
|
1,968
|
|
|
|
1,935
|
|
|
Stock options
|
|
|
2,149
|
|
|
|
2,358
|
|
|
Employee stock purchase plan
|
|
|
135
|
|
|
|
152
|
|
|
Total
|
|
$
|
4,456
|
|
|
$
|
5,507
|
|
|
|
|
Three Months Ended
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March 31,
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2020
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2019
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Stock-based compensation expense by operating expense grouping:
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|
|
|
|
|
|
|
|
|
Sales and marketing
|
|
$
|
178
|
|
|
$
|
243
|
|
|
Research and development
|
|
|
237
|
|
|
|
1,084
|
|
|
General and administrative
|
|
|
4,041
|
|
|
|
4,180
|
|
|
|
|
$
|
4,456
|
|
|
$
|
5,507
|
|
|
| Schedule of Restricted Stock Award Activity |
The Company’s restricted stock award activity for the three months ended March 31, 2020 was as follows:
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Weighted
|
|
|
|
|
|
|
|
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Average Grant
|
|
|
|
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Shares
|
|
|
Date Fair Value
|
|
|
Unvested at December 31, 2019
|
|
|
22,813
|
|
|
$
|
7.50
|
|
|
Granted
|
|
|
5,310
|
|
|
$
|
2.98
|
|
|
Vested
|
|
|
(8,797
|
)
|
|
$
|
4.77
|
|
|
Unvested at March 31, 2020
|
|
|
19,326
|
|
|
$
|
7.50
|
|
|
| Schedule of Restricted Stock Unit Activity |
The Company’s restricted stock unit activity for the three months ended March 31, 2020 was as follows:
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Weighted
|
|
|
|
|
|
|
|
|
Average Grant
|
|
|
|
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Shares
|
|
|
Date Fair Value
|
|
|
Unvested at December 31, 2019
|
|
|
142,145
|
|
|
$
|
6.71
|
|
|
Forfeited
|
|
|
(1,500
|
)
|
|
$
|
8.81
|
|
|
Vested
|
|
|
(50,535
|
)
|
|
$
|
5.65
|
|
|
Unvested at March 31, 2020
|
|
|
90,110
|
|
|
$
|
7.27
|
|
|
| Schedule of Stock Option Activity |
The activity during the three months ended March 31, 2020 related to all other stock options was as follows:
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Weighted-Average
|
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Remaining
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Aggregate
|
|
|
|
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|
|
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Exercise
|
|
|
Contractual
|
|
Intrinsic
|
|
|
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|
Options
|
|
|
Price
|
|
|
Term
|
|
Value
|
|
|
Outstanding at December 31, 2019
|
|
|
5,196,778
|
|
|
$
|
13.09
|
|
|
|
|
|
|
|
|
Granted
|
|
|
487,500
|
|
|
$
|
2.69
|
|
|
|
|
|
|
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Forfeited
|
|
|
(86,287
|
)
|
|
$
|
10.09
|
|
|
|
|
|
|
|
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Expired
|
|
|
(85,979
|
)
|
|
$
|
14.26
|
|
|
|
|
|
|
|
|
Outstanding at March 31, 2020
|
|
|
5,512,012
|
|
|
$
|
12.20
|
|
|
7.5 years
|
|
$
|
212
|
|
|
Exercisable at March 31, 2020
|
|
|
4,016,843
|
|
|
$
|
13.82
|
|
|
7.0 years
|
|
$
|
212
|
|
|
| Employee Stock Purchase Plan [Member] |
|
| Summary of Fair Value Assumptions of Stock Purchase Plan |
The assumptions used in calculating the fair values of purchase rights granted under the ESPP during the three months ended March 31, 2020 are set forth in the table below:
|
Expected term (in years)
|
|
0.5 - 2.0
|
|
|
Expected volatility
|
|
65% - 81%
|
|
|
Risk-free interest rate
|
|
1.3% - 1.5%
|
|
|
Expected dividend yield
|
|
|
—
|
|
|
| Stock Options [Member] |
|
| Schedule of Fair Value Assumptions |
The following assumptions were used to compute the grant date fair values of the stock options granted during the three months ended March 31, 2020:
|
Expected term (in years)
|
|
|
|
6.0 - 6.1
|
|
|
Expected volatility
|
|
|
|
|
68
|
%
|
|
Risk-free interest rate
|
|
|
|
0.9% - 1.2%
|
|
|
Expected dividend yield
|
|
|
|
|
—
|
|
|
| Performance-based Stock Options [Member] |
|
| Schedule of Stock Option Activity |
The activity during the three months ended March 31, 2020 related to stock options that are subject to performance-based vesting conditions tied to the future achievement of stock price goals by the Company was as follows:
|
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|
|
|
|
|
Weighted-Average
|
|
|
|
|
|
|
|
|
|
|
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|
Remaining
|
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|
Aggregate
|
|
|
|
|
|
|
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|
Exercise
|
|
|
Contractual
|
|
|
Intrinsic
|
|
|
|
|
Options
|
|
|
Price
|
|
|
Term
|
|
|
Value
|
|
|
Outstanding at December 31, 2019
|
|
|
4,484,739
|
|
|
$
|
16.68
|
|
|
|
|
|
|
|
|
|
|
Forfeited
|
|
|
(94,224
|
)
|
|
$
|
5.64
|
|
|
|
|
|
|
|
|
|
|
Outstanding at March 31, 2020
|
|
|
4,390,515
|
|
|
$
|
16.92
|
|
|
8.3 years
|
|
|
$
|
—
|
|
|
Exercisable at March 31, 2020
|
|
|
—
|
|
|
$
|
—
|
|
|
|
—
|
|
|
$
|
—
|
|
|