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Stock-Based Compensation | 6 Months Ended
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Jun. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
Stock-Based Compensation | Stock-Based Compensation Option and Equity Plans In May 2015, the aggregate number of shares issuable under the 2012 Employee, Director and Consultant Equity Incentive Plan (the “2012 Plan”) was increased by 1,000,000 to 4,586,181, in accordance with the 2012 plan. The total number of shares available for grant under the 2012 Plan at June 30, 2015 was 1,483,015. Stock Options A summary of the Company’s stock option activity for the six months ended June 30, 2015 was as follows:
| Options |  | Weighted-Average Exercise Price
Outstanding at December 31, 2014 | 1,383,479 |  |  | $ | 5.13 |
Granted | 1,510,759 |  |  | $ | 0.95 |
Exercised | — |  |  | — |
Forfeited | (962,015 | ) |  | $ | 2.90 |
Expired | (359,472 | ) |  | $ | 2.86 |
Outstanding at June 30, 2015 | 1,572,751 |  |  | $ | 3.00 |
Exercisable at June 30, 2015 | 504,121 |  |  | $ | 7.19 |
Vested and expected to vest at June 30, 2015 | 1,523,604 |  |  | $ | 3.06 |
The Company estimates the fair value of each stock option on the grant date using the Black-Scholes valuation model, which requires several estimates including an estimate of the fair value of the underlying common stock on grant date. The expected volatility was based on an average of the historical volatility of a peer group of similar companies. The expected term was calculated utilizing the simplified method. The risk-free interest rate was based on the U.S. Treasury yield curve in effect at the time of grant for the expected term of the option. The following weighted average assumptions were used in the calculation to estimate the fair value of options granted to employees six months ended June 30, 2015 and 2014:
| Six Months Ended June 30,
2015 |  | 2014
Weighted-average risk-free interest rate | 1.63 | % |  | 1.84 | %
Weighted-average expected life (in years) | 6.3 |  |  | 6.3 |
Expected dividend yield | — | % |  | — | %
Weighted-average expected volatility | 47 | % |  | 48 | %
Restricted Stock Awards Restricted stock awards (“RSA”) activity for the six months ended June 30, 2015 was as follows:
| Number of Awards |  | Weighted-Average Grant Date Fair Value
Unvested at December 31, 2014 | — |  |  | $ | — |
Granted | 30,000 |  |  | $ | 0.75 |
Vested | (30,000 | ) |  | $ | 0.75 |
Forfeited | — |  |  | $ | — |
Unvested at June 30, 2015 | — |  |  | $ | — |
The total fair value of RSAs vested during the six months ended June 30, 2015 was $23,000. The Company recorded $23,000 of stock-based compensation for RSAs during the six months ended June 30, 2015. Stock-Based Awards Granted to Nonemployees The Company from time to time grants options to purchase common stock or restricted stock to non-employees for services rendered and records expense ratably over the vesting period of each award. The Company estimates the fair value of the stock options using the Black-Scholes valuation model at each reporting date. No options were granted to non-employees during the six months ended June 30, 2015. The Company granted 30,000 RSAs to non-employees and recorded stock-based compensation expense of $23,000 during six months ended June 30, 2015. The following assumptions were used in the Black-Scholes valuation model related to non-employee stock options granted during the six months ended June 30, 2014:
Weighted-average risk-free interest rate | 2.69 | %
Weighted-average expected life (in years) | 9.9 |
Expected dividend yield | — | %
Weighted-average expected volatility | 45 | %
Summary of Stock-Based Compensation Expense Total stock-based compensation expense included in the condensed consolidated statements of operations and comprehensive loss was allocated as follows (in thousands):
| Three Months Ended June 30, |  | Six Months Ended June 30,
2015 |  | 2014 |  | 2015 |  | 2014
Cost of revenue | $ | 5 |  |  | $ | 213 |  |  | $ | 34 |  |  | $ | 215 |
Research and development | 37 |  |  | 712 |  |  | 159 |  |  | 799 |
General and administrative | 31 |  |  | 4,625 |  |  | 359 |  |  | 5,477 |
Selling and marketing | 10 |  |  | 1,291 |  |  | 152 |  |  | 1,711 |
Capitalized into inventory | 7 |  |  | 579 |  |  | 46 |  |  | 622 |
Total stock-based compensation expense | $ | 90 |  |  | $ | 7,420 |  |  | $ | 750 |  |  | $ | 8,824 |
Unrecognized stock-based compensation at June 30, 2015 was as follows (in thousands):
| Unrecognized Stock-Based Compensation |  | Weighted Average Remaining Period of Recognition (in years)
Stock options | $ | 689 |  |  | 2.2

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- Definition The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 40 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6418621&loc=d3e17540-113929 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 50 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6406099&loc=d3e25284-112666 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5047-113901 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5444-113901 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 14 + Details
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