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Stock Option Plan (Tables)
3 Months Ended
Mar. 31, 2020
Share-based Payment Arrangement [Abstract]  
Schedule of Stock Option Activity
Activity under the Company's stock option plans is set forth below:
 
Number of
Options
Weighted-
Average
Exercise Price
Weighted-
Average
Remaining
Contractual
Term (Years)
Aggregate
Intrinsic
Value
Outstanding, December 31, 20191,375,542  $8.33  9.16$23,654  
Granted514,131  $19.51  
Exercised(43,700) $0.26  
Forfeited(215,542) $9.73  
Expired(417) $19.04  
Outstanding, March 31, 2020
1,630,014  $11.88  9.22$9,324  
Vested and expected to vest, March 31, 2020
1,630,014  $11.88  9.22$9,324  
Options exercisable, March 31, 2020
199,168  $3.77  7.90$2,740  
Schedule of Fair Value Assumptions, Stock Options
The fair value of employee stock options was estimated using the following assumptions to determine the fair value of stock options granted:
 
 Three Months Ended March 31,
 20202019
Expected volatility
47%-50%
59%
Risk-free interest rate
0.6%-1.7%
2.6%
Dividend yield
Expected term (in years)
6.08
6.08
Schedule of Non-cash Stock-based Compensation Expense
Total non-cash stock-based compensation expense recorded related to options granted in the condensed statement of operations is as follows (in thousands):
 
 Three Months Ended March 31,
 20202019
Cost of revenue$ $ 
Selling, general and administrative422  10  
Research and development  
Total$431  $12