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Employee Benefit Plans and Stock-Based Compensation (Tables)

12 Months Ended

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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