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Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2018

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Summary of Fair Value Assumptions on Stock Options Granted

For the years ended December 31, 2018, 2017 and 2016, the fair value of stock options granted to employees was estimated on the grant date using the Black-Scholes valuation model with the following assumptions:

	2018			2017			2016
Dividend yield	0	%		0	%		0	%
Expected term (in years)	5.2 - 6.1			5.3 - 6.3			6.08
Risk-free interest rates	2.5% - 2.9%			1.9% - 2.2%			1.2% - 2.1%
Expected volatility	38% - 45%			39% - 43%			42% - 45%

Summary of Activity under Stock Option Plans

The following table summarizes activity under the Company’s stock option plans:

		Number of Shares Underlying Outstanding Options			Weighted-Average Exercise Price				Weighted-Average Remaining Contractual Term (Years)		Aggregate Intrinsic Value (in thousands)
Balances at January 1, 2016		20,710,510			$	2.79			8.28		$	8,634
Granted		2,624,450			3.20
Exercised		(272,591	)		0.99
Forfeited and canceled		(2,132,867	)		2.93
Balances at December 31, 2016		20,929,502			2.85				7.58		11,149
Granted		5,803,596			3.58
Exercised		(1,554,944	)		1.64
Forfeited and canceled		(1,570,408	)		2.98
Balances at December 31, 2017		23,607,746			3.10				7.39		22,260
Granted		4,468,523			5.88
Exercised		(3,522,631	)		2.32
Forfeited and canceled		(779,359	)		3.80
Balances at December 31, 2018		23,774,279			3.71				7.10		342,262
Vested and exercisable as of December 31, 2018		13,774,468			3.19				6.13		205,455
Vested and expected to vest as of December 31, 2018		23,774,279			3.71				7.10		342,262

Summary of Activity under RSU Plans

The following table summarizes the RSU activity and related information under the 2018 EIP:

	Number of RSUs Outstanding			Weighted-Average Grant Date Fair Value
Unvested balance - January 1, 2018	—			$	—
Granted	327,202			15.00
Vested	(38,742	)		15.00
Forfeited/canceled	—			—
Unvested balance - December 31, 2018	288,460			$	15.00

Summary of Fair Value Assumptions on Employee Stock Purchas Plans

For the year ended December 31, 2018, the assumptions used to determine the fair value of the shares to be awarded are as follows:

	2018
Dividend yield	0	%
Expected term (in years)	0.5 - 2.0
Risk-free interest rates	2.4% - 2.9%
Unvested balance - expected volatility	37	%

Summary of Components of Stock-Based Compensation Expense Recognized

The following table summarizes the components of stock-based compensation expense recognized in the consolidated statements of operations for the years ended December 31, 2018, 2017 and 2016 (in thousands):

	2018				2017				2016
Cost of revenue	$	282			$	290			$	193
Research and development	3,258				1,797				1,820
Sales and marketing	1,637				1,299				1,052
General and administrative	5,184				3,460				4,201
Total	$	10,361			$	6,846			$	7,266

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Tabular disclosure of the number and weighted-average grant date fair value for restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock units that were granted, vested, or forfeited during the year.

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Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value.

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