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Employee Benefit Plans and Stock-Based Compensation (Tables) | 12 Months Ended
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Dec. 31, 2018
Employee Benefit Plans and Stock-Based Compensation |
Summary of stock option activity | The following table summarizes the stock option transactions for each of the years ended December 31, 2016, 2017 and 2018 (in thousands, except per share data):
|  |  |  |  |  |  | Weighted |  |  |  |
|  |  |  |  |  |  | average |  |  |  |
|  |  |  | Weighted- |  | Remaining |  |  |  |
|  | Number of |  | average |  | Contractual |  | Aggregate |
|  | Options |  | Exercise |  | Life |  | Intrinsic |
Stock Options |  | Outstanding |  | Price |  | (in years) |  | Value |
Balance as of January 1, 2016 |  | 3,779 |  | $ | 2.97 |  | 6.26 |  | $ | 764 |
Granted |  | 624 |  |  | 4.92 |  |  |  |  |  |
Exercised |  | (555) |  |  | 2.41 |  |  |  |  |  |
Canceled and expired |  | (554) |  |  | 3.26 |  |  |  |  |  |
Balance as of December 31, 2016 |  | 3,294 |  | $ | 3.38 |  | 7.23 |  | $ | 5,301 |
Granted |  | 184 |  |  | 8.99 |  |  |  |  |  |
Exercised |  | (762) |  |  | 3.25 |  |  |  |  |  |
Canceled and expired |  | (50) |  |  | 3.47 |  |  |  |  |  |
Balance as of December 31, 2017 |  | 2,666 |  | $ | 3.81 |  | 6.87 |  | $ | 13,149 |
Granted |  | 246 |  |  | 5.77 |  |  |  |  |  |
Exercised |  | (238) |  |  | 2.64 |  |  |  |  |  |
Canceled and expired |  | (20) |  |  | 4.40 |  |  |  |  |  |
Balance as of December 31, 2018 |  | 2,654 |  | $ | 4.09 |  | 6.28 |  | $ | 2,720 |
Options vested as of December 31, 2018 and unvested options expected to vest, net of forfeitures |  | 2,626 |  | $ | 4.07 |  | 6.25 |  | $ | 2,718 |
Options exercisable as of December 31, 2018 |  | 1,863 |  | $ | 3.60 |  | 5.41 |  | $ | 2,314 |
Summary of options outstanding and exercisable by exercise price ranges | The options outstanding and exercisable as of December 31, 2018 were in the following exercise price ranges (in thousands, except per share data):
|  |  |  |  |  |  |  |  |  |  |  |  | Options Vested and |
|  |  |  |  |  | Options Outstanding as of |  | Exercisable as of |
|  |  |  |  |  | December 31, 2018 |  | December 31, 2018 |
|  |  |  |  |  |  |  |  |  |  | Weighted‑average |  |  |  |  |  |
Range of |  |  |  | Weighted‑average |  | Remaining |  |  |  | Weighted‑Average |
Exercise Price |  | Shares |  | Exercise Price |  | Contractual Life |  | Shares |  | Exercise Price |
$ | 2.14 | - | $ | 2.14 |  | 21 |  | $ | 2.14 |  | 5.33 |  | 21 |  | $ | 2.14 |
$ | 2.18 | - | $ | 2.18 |  | 593 |  | $ | 2.18 |  | 6.84 |  | 420 |  | $ | 2.18 |
$ | 2.29 | - | $ | 2.36 |  | 374 |  | $ | 2.32 |  | 5.13 |  | 374 |  | $ | 2.32 |
$ | 2.47 | - | $ | 2.91 |  | 378 |  | $ | 2.69 |  | 5.05 |  | 360 |  | $ | 2.69 |
$ | 4.79 | - | $ | 4.79 |  | 129 |  | $ | 4.79 |  | 2.82 |  | 129 |  | $ | 4.79 |
$ | 5.21 | - | $ | 5.21 |  | 487 |  | $ | 5.21 |  | 7.82 |  | 251 |  | $ | 5.21 |
$ | 5.61 | - | $ | 5.77 |  | 325 |  | $ | 5.73 |  | 8.21 |  | 80 |  | $ | 5.61 |
$ | 5.83 | - | $ | 7.82 |  | 163 |  | $ | 5.85 |  | 1.59 |  | 163 |  | $ | 5.85 |
$ | 7.95 | - | $ | 7.95 |  | 60 |  | $ | 7.95 |  | 8.08 |  | 29 |  | $ | 7.95 |
$ | 9.50 | - | $ | 9.50 |  | 124 |  | $ | 9.50 |  | 8.82 |  | 36 |  | $ | 9.50 |
|  |  |  |  |  | 2,654 |  | $ | 4.09 |  | 6.28 |  | 1,863 |  | $ | $3.60 |
Summary of restricted stock awards activity |
|  |  |  | Weighted-Average |
|  |  |  | Grant Date |
Stock Awards |  | Shares |  | Fair Value |
Non-vested as of January 1, 2016 |  | 546 |  | $ | 2.39 |
Granted |  | 136 |  | $ | 4.66 |
Vested |  | (150) |  | $ | 2.34 |
Forfeited |  | (207) |  | $ | 2.55 |
Non-vested as of December 31, 2016 |  | 325 |  | $ | 3.27 |
Granted |  | 312 |  | $ | 9.15 |
Vested |  | (157) |  | $ | 3.13 |
Forfeited |  | — |  | $ | — |
Non-vested as of December 31, 2017 |  | 480 |  | $ | 7.13 |
Granted |  | 344 |  | $ | 6.02 |
Vested |  | (181) |  | $ | 6.04 |
Forfeited |  | (10) |  | $ | 6.65 |
Non-vested as of December 31, 2018 |  | 633 |  | $ | 6.85 |
Summary of common stock reserved for future issuance | The following number of shares of common stock were reserved and available for future issuance as of December 31, 2018 (in thousands, except per share data):
Options outstanding |  | 2,654 |
Restricted stock awards outstanding |  | 633 |
Stock available for future grant: 2015 Equity Incentive Plan |  | 662 |
Total |  | 3,949 |
Summary of compensation costs related to stock-based awards | The following table summarizes compensation costs related to our stock‑based compensation awards (in thousands, except per share data):
|  | Year Ended |
|  | December 31, |
|  | 2018 |  | 2017 |  | 2016 |
Stock‑based compensation in the form of employee stock options and restricted stock, included in: |  |  |  |  |  |  |  |  |  |
Cost of revenue |  | $ | 92 |  | $ | 39 |  | $ | 23 |
Selling, general and administrative |  |  | 1,520 |  |  | 1,146 |  |  | 908 |
Research and development |  |  | 313 |  |  | 220 |  |  | 165 |
Total stock-based compensation |  |  | 1,925 |  |  | 1,405 |  |  | 1,096 |
Tax effect on stock-based compensation |  |  | — |  |  | — |  |  | — |
Net effect on net income |  | $ | 1,925 |  | $ | 1,405 |  | $ | 1,096 |
Shares used in computing basic net income per share |  |  | 39,049 |  |  | 37,444 |  |  | 32,139 |
Shares used in computing diluted net income per share |  |  | 40,265 |  |  | 38,966 |  |  | 32,894 |
Effect on basic net income per share |  | $ | (0.05) |  | $ | (0.04) |  | $ | (0.03) |
Effect on diluted net income per share |  | $ | (0.05) |  | $ | (0.04) |  | $ | (0.03) |
Summary of weighted-average assumptions |
|  | Year Ended |
|  | December 31, |
|  | 2018 |  | 2017 |  | 2016 |
Expected term (in years) |  | 5.8 |  | 5.8 |  | 4.0 |
Volatility |  | 46.6 | % | 46.5 | % | 46.5 | %
Expected dividend |  | — | % | — | % | — | %
Risk-free interest rate |  | 3.09 | % | 2.10 | % | 1.47 | %

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