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Stock Incentive Plans (Tables)

12 Months Ended

Dec. 31, 2016

Stock incentive plans

Summary of activity under the Company's stock option plans

The following table summarizes activity under the Company's stock incentive plans (aggregate intrinsic value in thousands):

	Shares Available for Grant			Stock Options Outstanding			Weighted Average Exercise Price				Weighted Average Remaining Contractual Life (Years)		Aggregate Intrinsic Value
Balance—December 31, 2015	1,058,359			4,179,521			$	8.03			7.50		$	6,511
Additional shares authorized	1,114,416			—
Granted - stock options	(1,618,250	)		1,618,250			6.30
Granted - restricted stock units	(25,000	)		25,000
Canceled	358,199			(358,199	)		10.29
Exercised	—			(212,740	)		2.53
Balance—December 31, 2016	887,724			5,251,832			$	7.56			7.24		$	8,515
Options vested and exercisable—December 31, 2016				2,628,328			$	7.42			5.89		$	6,008
Options vested and expected to vest—December 31, 2016				4,962,370			$	7.58			7.16		$	8,254

Stock-based Compensation

Stock incentive plans

Summary of share-based compensation expense

The following table summarizes stock-based compensation expense related to stock options, restricted stock units and the ESPP for the years ended December 31, 2016, 2015 and 2014, and are included in the statements of operations and comprehensive loss as follows (in thousands of dollars):

	Year Ended December 31,
	2016				2015				2014
Cost of revenue	$	126			$	100			$	51
Research and development	1,322				1,178				790
Selling and marketing	1,594				1,326				707
General and administrative	3,336				2,998				2,000
Total stock-based compensation expense	$	6,378			$	5,602			$	3,548

Stock-based Compensation, employees

Stock incentive plans

Schedule of assumptions used to calculate estimated grant date fair value of stock options using the Black-Scholes option-pricing valuation model

The estimated grant-date fair value of employee stock options was calculated using the Black-Scholes option-pricing model, based on the following assumptions:

	Year Ended December 31,
	2016		2015		2014
Weighted-average volatility	52.49 - 56.36%		52.56 - 68.82%		70.19 - 78.54%
Weighted-average expected term (years)	5.50 - 6.27		5.50 - 6.08		5.50 - 6.08
Risk-free interest rate	1.16 - 2.09%		1.55 - 2.03%		1.66 - 2.04%
Expected dividend yield	—		—		—

Stock-based Compensation, non-employees

Stock incentive plans

Schedule of assumptions used to calculate estimated grant date fair value of stock options using the Black-Scholes option-pricing valuation model

The estimated fair value of non-employee stock options was calculated using the Black-Scholes option-pricing model, based on the following assumptions:

	Year Ended December 31,
	2016		2015		2014
Weighted-average volatility	52.77 - 65.85%		64.72 - 74.48%		73.20 - 74.48%
Weighted-average expected term (years)	7.80 - 8.56		7.92 - 10.00		8.75 - 10.00
Risk-free interest rate	1.39 - 2.30%		1.78 - 2.29%		2.09 - 2.20%
Expected dividend yield	—		—		—

ESPP

Stock incentive plans

Schedule of assumptions used to calculate estimated grant date fair value of stock options using the Black-Scholes option-pricing valuation model

The estimated grant date fair value of the ESPP shares was calculated using the Black-Scholes option-pricing model, based on the following assumptions:

	Year Ended December 31,
	2016		2015
Weighted-average volatility	46.38 - 75.72%		53.57 - 58.10%
Weighted-average expected term (years)	0.50 - 1.00		0.49 - 0.99
Risk-free interest rate	0.40 - 0.50%		0.17 - 0.33%
Expected dividend yield	—		—

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