Stock Plans (Tables)
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6 Months Ended |
Jun. 30, 2020 |
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| 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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Six Months Ended
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June 30,
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June 30,
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2020
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2019
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2020
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2019
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Stock-based compensation expense by type of award:
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Restricted stock units
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$
|
753
|
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$
|
299
|
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$
|
895
|
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$
|
497
|
|
|
Restricted stock awards
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|
|
47
|
|
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|
96
|
|
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|
109
|
|
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256
|
|
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Machine Box contingent common stock issuances
|
|
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—
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523
|
|
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|
—
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|
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1,227
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Performance-based stock options
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1,953
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|
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2,020
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|
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3,921
|
|
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3,956
|
|
|
Stock options
|
|
|
1,306
|
|
|
|
2,703
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|
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|
3,455
|
|
|
|
5,060
|
|
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Employee stock purchase plan
|
|
|
72
|
|
|
|
137
|
|
|
|
207
|
|
|
|
289
|
|
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Total
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$
|
4,131
|
|
|
$
|
5,778
|
|
|
$
|
8,587
|
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|
$
|
11,285
|
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Three Months Ended
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Six Months Ended
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June 30,
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June 30,
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2020
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2019
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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
|
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$
|
198
|
|
|
$
|
271
|
|
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$
|
376
|
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$
|
514
|
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Research and development
|
|
|
184
|
|
|
|
900
|
|
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|
421
|
|
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1,984
|
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General and administrative
|
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3,749
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4,607
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|
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7,790
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|
|
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8,787
|
|
|
|
|
$
|
4,131
|
|
|
$
|
5,778
|
|
|
$
|
8,587
|
|
|
$
|
11,285
|
|
|
| Schedule of Restricted Stock Award Activity |
The Company’s restricted stock award activity for the six months ended June 30, 2020 was as follows:
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Weighted
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Average Grant
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Shares
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Date Fair Value
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Unvested at December 31, 2019
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22,813
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$
|
7.50
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Granted
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5,310
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$
|
2.98
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Vested
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(12,285
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)
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$
|
5.55
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Unvested at June 30, 2020
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15,838
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$
|
7.50
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| Schedule of Restricted Stock Unit Activity |
The Company’s restricted stock unit activity for the six months ended June 30, 2020 was as follows:
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Weighted
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|
|
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|
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Average Grant
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|
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Shares
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Date Fair Value
|
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Unvested at December 31, 2019
|
|
|
142,145
|
|
|
$
|
6.71
|
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Granted
|
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800,532
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$
|
10.18
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Forfeited
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(5,500
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)
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$
|
8.81
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Vested
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(116,295
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)
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$
|
6.84
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Unvested at June 30, 2020
|
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820,882
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$
|
10.06
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| Schedule of Stock Option Activity |
The activity during the six months ended June 30, 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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Exercise
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Contractual
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Intrinsic
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Options
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Price
|
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Term
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Value
|
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Outstanding at December 31, 2019
|
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5,196,778
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|
$
|
13.09
|
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|
|
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|
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Granted
|
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551,500
|
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$
|
3.34
|
|
|
|
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Exercised
|
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(25,242
|
)
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|
$
|
2.72
|
|
|
|
|
|
|
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Forfeited
|
|
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(133,839
|
)
|
|
$
|
9.04
|
|
|
|
|
|
|
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Expired
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(142,330
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)
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|
$
|
14.10
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Outstanding at June 30, 2020
|
|
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5,446,867
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$
|
12.22
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|
7.3 years
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|
$
|
15,731
|
|
|
Exercisable at June 30, 2020
|
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4,160,659
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|
$
|
13.83
|
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|
6.9 years
|
|
$
|
5,328
|
|
|
| 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 six months ended June 30, 2020 are set forth in the table below:
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Expected term (in years)
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0.5 - 2.0
|
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Expected volatility
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65% - 81%
|
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Risk-free interest rate
|
|
1.3% - 1.5%
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|
Expected dividend yield
|
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|
—
|
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| 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 six months ended June 30, 2020:
|
Expected term (in years)
|
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6.0 - 6.1
|
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Expected volatility
|
|
|
|
68% - 73%
|
|
|
Risk-free interest rate
|
|
|
|
0.4% - 1.2%
|
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Expected dividend yield
|
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|
|
|
—
|
|
|
| Performance-based Stock Options [Member] |
|
| Schedule of Stock Option Activity |
The activity during the six months ended June 30, 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
|
|
|
|
|
|
|
|
|
Exercise
|
|
|
Contractual
|
|
|
Intrinsic
|
|
|
|
|
Options
|
|
|
Price
|
|
|
Term
|
|
|
Value
|
|
|
Outstanding at December 31, 2019
|
|
|
4,484,739
|
|
|
$
|
16.68
|
|
|
|
|
|
|
|
|
|
|
Forfeited
|
|
|
(151,638
|
)
|
|
$
|
5.63
|
|
|
|
|
|
|
|
|
|
|
Outstanding at June 30, 2020
|
|
|
4,333,101
|
|
|
$
|
17.07
|
|
|
8.1 years
|
|
|
$
|
10,667
|
|
|
Exercisable at June 30, 2020
|
|
|
—
|
|
|
$
|
—
|
|
|
|
—
|
|
|
$
|
—
|
|
|