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Stockholders' Equity (Tables) | 12 Months Ended
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Dec. 31, 2019
Equity [Abstract] |
Summary of Stock Options Activity | The activity for stock options under the Company’s stock plans for the years ended December 31, 2019, 2018 and 2017 is as follows:
|  |  |  |  |  |  |  |  |  |  |  |  | Remaining |  |  |  |  |
|  |  |  |  |  |  |  |  |  |  |  |  | weighted- |  |  |  |  |
|  |  |  |  |  |  |  |  | Weighted- |  |  | average |  |  | Per share |
|  |  |  |  |  |  |  |  | average |  |  | contractual |  |  | average |
|  |  |  |  | Price per |  |  | exercise |  |  | terms |  |  | intrinsic |
| Options |  |  | share |  |  | price |  |  | (in years) |  |  | value |
Outstanding as of December 31, 2016 |  | 2,355,527 |  |  | $0.60-$58.95 |  |  | $ | 28.22 |  |  |  | 5.42 |  |  | $ | 38.95 |
Granted |  | 64,498 |  |  |  | 83.30 |  |  |  | 83.30 |  |  |  |  |  |  |  |  |
Exercised |  | (520,393 | ) |  | 0.60-58.95 |  |  |  | 24.16 |  |  |  |  |  |  |  |  |
Forfeited |  | (63,173 | ) |  | 24.52-58.95 |  |  |  | 43.74 |  |  |  |  |  |  |  |  |
Expired |  | (33 | ) |  |  | 8.70 |  |  |  | 8.70 |  |  |  |  |  |  |  |  |
Outstanding as of December 31, 2017 |  | 1,836,426 |  |  | 0.60-83.30 |  |  |  | 30.77 |  |  |  | 4.58 |  |  |  | 88.31 |
Vested and exercisable as of December 31, 2017 |  | 1,176,504 |  |  | 0.60-83.30 |  |  |  | 24.33 |  |  |  | 4.39 |  |  |  | 94.75 |
Vested and expected to vest as of December 31, 2017 |  | 1,792,871 |  |  | 0.60-83.30 |  |  |  | 30.50 |  |  |  | 4.58 |  |  |  | 88.58 |
Outstanding as of December 31, 2017 |  | 1,836,426 |  |  | 0.60-83.30 |  |  |  | 30.77 |  |  |  | 4.58 |  |  |  | 88.31 |
Granted |  | — |  |  |  | — |  |  |  | — |  |  |  |  |  |  |  |  |
Exercised |  | (708,319 | ) |  | 0.60-58.95 |  |  |  | 24.22 |  |  |  |  |  |  |  |  |
Forfeited |  | (771 | ) |  | 24.52-44.19 |  |  |  | 28.24 |  |  |  |  |  |  |  |  |
Expired |  | — |  |  |  | — |  |  |  | — |  |  |  |  |  |  |  |  |
Outstanding as of December 31, 2018 |  | 1,127,336 |  |  | 0.75-83.30 |  |  |  | 34.89 |  |  |  | 3.84 |  |  |  | 89.28 |
Vested and exercisable as of December 31, 2018 |  | 851,039 |  |  | 0.75-83.30 |  |  |  | 32.12 |  |  |  | 3.75 |  |  |  | 92.05 |
Vested and expected to vest as of December 31, 2018 |  | 1,109,280 |  |  | 0.75-83.30 |  |  |  | 34.75 |  |  |  | 3.84 |  |  |  | 89.42 |
Outstanding as of December 31, 2018 |  | 1,127,336 |  |  | 0.75-83.30 |  |  |  | 34.89 |  |  |  | 3.84 |  |  |  | 89.28 |
Granted |  | — |  |  |  | — |  |  |  | — |  |  |  |  |  |  |  |  |
Exercised |  | (109,291 | ) |  | 0.75-58.95 |  |  |  | 28.45 |  |  |  |  |  |  |  |  |
Forfeited |  | (37,161 | ) |  | 38.54-58.95 |  |  |  | 44.58 |  |  |  |  |  |  |  |  |
Expired |  | — |  |  |  | — |  |  |  | — |  |  |  |  |  |  |  |  |
Outstanding as of December 31, 2019 |  | 980,884 |  |  | 0.75-83.30 |  |  |  | 35.24 |  |  |  | 2.84 |  |  |  | 34.07 |
Vested and exercisable as of December 31, 2019 |  | 929,825 |  |  | 0.75-83.30 |  |  |  | 34.73 |  |  |  | 2.81 |  |  |  | 34.64 |
Vested and expected to vest as of December 31, 2019 |  | 977,589 |  |  | $0.75-$83.30 |  |  | $ | 35.21 |  |  |  | 2.84 |  |  | $ | 34.11 |
Summary of Restricted Stock Activity | Stock Awards activity for the years ended December 31, 2019 and December 31, 2018 are summarized below:
|  |  |  |  |  |  |  |  |  |  |  |  | Weighted- |
|  |  |  |  |  |  |  |  |  |  |  |  | average |
|  |  |  |  |  |  |  |  |  |  |  |  | grant |
|  |  |  |  | Performance |  |  |  |  |  |  | date fair |
|  |  |  |  | and |  |  |  |  |  |  | value |
Restricted stock units | Time-based |  |  | time-based |  |  | Total |  |  | per share |
Unvested restricted stock units as of December 31, 2016 |  | — |  |  |  | — |  |  |  | — |  |  | $ | — |
Granted |  | 42,028 |  |  |  | 13,109 |  |  |  | 55,137 |  |  |  | 90.05 |
Vested |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Forfeited/canceled |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Unvested restricted stock units as of December 31, 2017 (1) |  | 42,028 |  |  |  | 13,109 |  |  |  | 55,137 |  |  | $ | 90.05 |
Unvested and expected to vest restricted stock units outstanding as of December 31, 2017 |  |  |  |  |  |  |  |  |  | 48,589 |  |  | $ | 89.95 |
Unvested restricted stock units as of December 31, 2017 |  | 42,028 |  |  |  | 13,109 |  |  |  | 55,137 |  |  | $ | 90.05 |
Granted |  | 31,877 |  |  |  | — |  |  |  | 31,877 |  |  |  | 143.50 |
Vested |  | (13,742 | ) |  |  | (4,370 | ) |  |  | (18,112 | ) |  |  | 89.35 |
Forfeited/canceled |  | (1,574 | ) |  |  | — |  |  |  | (1,574 | ) |  |  | 106.55 |
Unvested restricted stock units as of December 31, 2018 (1) |  | 58,589 |  |  |  | 8,739 |  |  |  | 67,328 |  |  | $ | 115.16 |
Unvested and expected to vest restricted stock units outstanding as of December 31, 2018 |  |  |  |  |  |  |  |  |  | 62,504 |  |  | $ | 115.98 |
Unvested restricted stock units as of December 31, 2018 |  | 58,589 |  |  |  | 8,739 |  |  |  | 67,328 |  |  | $ | 115.16 |
Granted |  | 87,902 |  |  |  | — |  |  |  | 87,902 |  |  |  | 75.56 |
Vested |  | (24,680 | ) |  |  | (4,366 | ) |  |  | (29,046 | ) |  |  | 123.53 |
Forfeited/canceled |  | (12,835 | ) |  |  | (1,239 | ) |  |  | (14,074 | ) |  |  | 102.89 |
Unvested restricted stock units as of December 31, 2019 (1) |  | 108,976 |  |  |  | 3,134 |  |  |  | 112,110 |  |  | $ | 83.48 |
Unvested and expected to vest restricted stock units outstanding as of December 31, 2019 |  |  |  |  |  |  |  |  |  | 103,087 |  |  | $ | 83.22 |
|  |  |  |  |  |  |  |  |  |  |  |  | Weighted- |
|  |  |  |  |  |  |  |  |  |  |  |  | average |
|  |  |  |  |  |  |  |  |  |  |  |  | grant |
|  |  |  |  | Performance |  |  |  |  |  |  | date fair |
|  |  |  |  | and |  |  |  |  |  |  | value |
Restricted stock awards | Time-based |  |  | time-based |  |  | Total |  |  | per share |
Unvested restricted stock awards outstanding as of December 31, 2016 |  | — |  |  |  | — |  |  |  | — |  |  | $ | — |
Granted |  | 20,789 |  |  |  | 20,785 |  |  |  | 41,574 |  |  |  | 91.52 |
Vested |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Forfeited/canceled |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Unvested restricted stock awards outstanding as of December 31, 2017 (1) |  | 20,789 |  |  |  | 20,785 |  |  |  | 41,574 |  |  | $ | 91.52 |
Unvested and expected to vest restricted stock awards outstanding as of December 31, 2017 |  |  |  |  |  |  |  |  |  | 34,051 |  |  | $ | 91.52 |
Unvested restricted stock awards outstanding as of December 31, 2017 |  | 20,789 |  |  |  | 20,785 |  |  |  | 41,574 |  |  | $ | 91.52 |
Granted |  | 22,645 |  |  |  | 33,964 |  |  |  | 56,609 |  |  |  | 130.89 |
Vested |  | (6,497 | ) |  |  | (6,928 | ) |  |  | (13,425 | ) |  |  | 91.52 |
Forfeited/canceled |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Unvested restricted stock awards outstanding as of December 31, 2018 (1) |  | 36,937 |  |  |  | 47,821 |  |  |  | 84,758 |  |  | $ | 115.80 |
Unvested and expected to vest restricted stock awards outstanding as of December 31, 2018 |  |  |  |  |  |  |  |  |  | 65,773 |  |  | $ | 115.85 |
Unvested restricted stock awards outstanding as of December 31, 2018 |  | 36,937 |  |  |  | 47,821 |  |  |  | 84,758 |  |  | $ | 115.80 |
Granted |  | 54,853 |  |  |  | 40,166 |  |  |  | 95,019 |  |  |  | 86.10 |
Vested |  | (13,627 | ) |  |  | (15,732 | ) |  |  | (29,359 | ) |  |  | 115.37 |
Forfeited/canceled |  | (7,093 | ) |  |  | (9,627 | ) |  |  | (16,720 | ) |  |  | 109.11 |
Unvested restricted stock awards outstanding as of December 31, 2019 (1) |  | 71,070 |  |  |  | 62,628 |  |  |  | 133,698 |  |  | $ | 95.74 |
Unvested and expected to vest restricted stock awards outstanding as of December 31, 2019 |  |  |  |  |  |  |  |  |  | 79,473 |  |  | $ | 90.31 |
(1) | Outstanding restricted stock units and restricted stock awards are based on the maximum payout of the targeted number of shares.
Summary of Stock-based Compensation Expense | Stock-based compensation Stock-based compensation expense recognized for the years ended December 31, 2019, 2018 and 2017, was as follows:
(amounts in thousands) | Years ended December 31, |
Stock-based compensation expense by type of award: | 2019 |  |  | 2018 |  |  | 2017 |
Stock option plan awards | $ | 2,977 |  |  | $ | 6,015 |  |  | $ | 7,652 |
Restricted stock units and restricted stock awards |  | 5,413 |  |  |  | 5,890 |  |  |  | 1,447 |
Employee stock purchase plan |  | 739 |  |  |  | 885 |  |  |  | 541 |
Total stock-based compensation expense | $ | 9,129 |  |  | $ | 12,790 |  |  | $ | 9,640 |
For the years ended December 31, 2019, 2018 and 2017, respectively, stock-based compensation expense recognized under ASC 718, included in cost of revenue, research and development expense, sales and marketing expense, and general and administrative expense was as follows:
| Years ended December 31, |
(amounts in thousands) | 2019 |  |  | 2018 |  |  | 2017 |
Cost of revenue | $ | 890 |  |  | $ | 1,060 |  |  | $ | 845 |
Research and development |  | 1,100 |  |  |  | 1,314 |  |  |  | 1,015 |
Sales and marketing |  | 1,755 |  |  |  | 2,355 |  |  |  | 1,558 |
General and administrative |  | 5,384 |  |  |  | 8,061 |  |  |  | 6,222 |
Total stock-based compensation expense | $ | 9,129 |  |  | $ | 12,790 |  |  | $ | 9,640 |
Assumptions Applied to Estimate Fair Value of Stock Option Awards | The following table displays the assumptions that have been applied to estimate the fair value of stock option awards on the date of grant using the Black-Scholes option pricing model. During 2019 and 2018, the Company did not grant any stock option awards.
|  | 2017
Expected term (years) |  | 3.54-4.00
Risk free interest rate |  | 1.65-1.73%
Expected dividend yield |  | None
Volatility |  | 41.61-42.15%
Assumptions Applied to Estimate Fair Value of Shares Issued Under ESPP | The following table displays the assumptions that have been applied to estimate the fair value of the Company’s shares to be issued under the ESPP using the Black-Scholes option pricing model.
|  | 2019 |  |  | 2018 |  |  | 2017 |
Expected term (years) |  |  | 0.50 |  |  |  | 0.50 |  |  |  | 0.50 |
Risk free interest rate |  | 1.75-2.53% |  |  | 1.63-2.46% |  |  | 1.15-1.63% |
Expected dividend yield |  | None |  |  | None |  |  | None |
Volatility |  | 44.00-47.00% |  |  | 37.34-44.00% |  |  | 42.35-45.34% |

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