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Equity Incentive Plans and Stock-Based Compensation (Tables) | 9 Months Ended
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Sep. 30, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
Summary of Stock-based Compensation | A summary of our stock-based compensation expense is as follows (in thousands):
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2017 |  | 2016 |  | 2017 |  | 2016
Stock-based compensation by type of award: |  |  |  |  |  |  |
Stock options | $ | 589 |  |  | $ | 1,028 |  |  | $ | 2,199 |  |  | $ | 3,209 |
Stock awards | 2,969 |  |  | 3,231 |  |  | 9,269 |  |  | 9,614 |
Employee stock purchase rights | 987 |  |  | 329 |  |  | 2,356 |  |  | 246 |
| $ | 4,545 |  |  | $ | 4,588 |  |  | $ | 13,824 |  |  | $ | 13,069 |
Stock-based compensation by category of expense: |  |  |  |  |  |  |
Cost of revenue | $ | 403 |  |  | $ | 332 |  |  | $ | 1,068 |  |  | $ | 921 |
Sales and marketing | 1,696 |  |  | 1,760 |  |  | 5,120 |  |  | 5,577 |
Research and development | 1,537 |  |  | 1,730 |  |  | 5,024 |  |  | 4,251 |
General and administrative | 909 |  |  | 766 |  |  | 2,612 |  |  | 2,320 |
| $ | 4,545 |  |  | $ | 4,588 |  |  | $ | 13,824 |  |  | $ | 13,069 |
Stock Options Valuation Assumptions | The fair value of the options was estimated as of the grant date using the Black-Scholes option-pricing model with the following assumptions:
| Nine Months Ended September 30,
| 2017 |  | 2016
Expected term (in years) | 4.7 |  | 4.9
Risk-free interest rate | 1.74% |  | 1.42%
Volatility | 42% |  | 49%
Dividend rate | —% |  | —%
Employee Stock Purchase Plan, Valuation Assumptions | The fair value of the employee stock purchase rights was estimated as of the grant date using the Black-Scholes option-pricing model with the following assumptions:
| Nine Months Ended September 30,
| 2017 |  | 2016
Expected term (in years) | 1.3 |  | 1.3
Risk-free interest rate | 1.12% |  | 0.65%
Volatility | 38% |  | 43%
Dividend rate | —% |  | —%
Summary of Activity under Stock Option Plans | The following tables summarize our stock option activities and related information:
| Number of Shares (thousands) |  | Weighted-Average Exercise Price |  | Weighted-Average Remaining Contractual Term (years) |  | Aggregate Intrinsic Value (thousands)
Outstanding as of December 31, 2016 | 7,868 |  |  | $ | 4.82 |  |  |  |  |
Granted | 135 |  |  | $ | 8.42 |  |  |  |  |  |
Exercised | (1,272 | ) |  | $ | 3.35 |  |  |  |  |
Canceled (1) | (421 | ) |  | $ | 6.40 |  |  |  |  |  |
Outstanding as of September 30, 2017 | 6,310 |  |  | $ | 5.09 |  |  | 5.5 |  | $ | 17,668 |
Vested and exercisable as of September 30, 2017 | 5,152 |  |  | $ | 5.01 |  |  | 4.9 |  | $ | 15,004 |
(1) | Includes 112,431 shares of canceled stock options from the 2008 Plan that became available for issuance under the 2014 Plan.
Stock Option Information | The following table provides information pertaining to our stock options (in thousands, except weighted-average fair value):
| Nine Months Ended September 30,
| 2017 |  | 2016
Fair value of options granted | $ | 426 |  |  | $ | 1,603 |
Weighted-average fair value of options granted | $ | 3.15 |  |  | $ | 2.38 |
Intrinsic value of options exercised | $ | 7,014 |  |  | $ | 5,003 |
Summary of Restricted Stock Units Activity | The following table summarizes our stock award activities and related information:
| Number of Shares (thousands) |  | Weighted-Average Grant Date Fair Value |  | Weighted-Average Remaining Vesting Term (years) |  | Aggregate Intrinsic Value (thousands)
Outstanding as of December 31, 2016 | 5,959 |  |  | $ | 5.81 |  |  |  |  |
Granted | 2,870 |  |  | $ | 8.65 |  |  |  |  |
Released | (1,397 | ) |  | $ | 6.33 |  |  |  |  |
Canceled | (865 | ) |  | $ | 5.99 |  |  |  |  |
Outstanding as of September 30, 2017 | 6,567 |  |  | $ | 6.92 |  |  | 1.6 |  | $ | 49,650 |

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