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Stock Based Compensation (Tables) | 6 Months Ended
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Jun. 30, 2020
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] |
Summary of Stock Option Activity | The following is a summary of the Company’s stock option activity during the six months ended June 30, 2020:
|  | Number of Options |  |  | Weighted Average Exercise Price |  |  | Weighted Average Remaining Life In Years |  |  | Intrinsic Value |
Outstanding at January 1, 2020 |  |  | 550,985 |  |  | $ | 5.67 |  |  |  | 4.3 |  |  | $ | 2,538 |
Granted |  |  | – |  |  |  | – |  |  |  | – |  |  |  | – |
Exercised |  |  | – |  |  |  | – |  |  |  | – |  |  |  | – |
Forfeited |  |  | – |  |  |  | – |  |  |  | – |  |  |  | – |
Outstanding at June 30, 2020 |  |  | 550,985 |  |  | $ | 5.67 |  |  |  | 3.8 |  |  | $ | 32,232 |
Exercisable at January 1, 2020 |  |  | 550,985 |  |  | $ | 5.67 |  |  |  | 4.3 |  |  | $ | 2,538 |
Vested |  |  | – |  |  |  | – |  |  |  | – |  |  |  | – |
Exercised |  |  | – |  |  |  | – |  |  |  | – |  |  |  | – |
Forfeited |  |  | – |  |  |  | – |  |  |  | – |  |  |  | – |
Exercisable at June 30, 2020 |  |  | 550,985 |  |  | $ | 5.67 |  |  |  | 3.8 |  |  | $ | 32,232 |
Schedule of Restricted Stock Units Activity | A summary of the activity related to RSUs for the six months ended June 30, 2020 is presented below:
|  | Total |  |  | Weighted Average Grant Date Fair Value |
Outstanding at January 1, 2020 |  |  | 1,821,852 |  |  | $ | 10.05 |
RSUs granted |  |  | 758,031 |  |  | $ | 1.25 |
RSUs forfeited |  |  | (128,213 | ) |  | $ | 8.66 |
RSUs vested |  |  | (629,554 | ) |  | $ | 9.11 |
Outstanding at June 30, 2020 |  |  | 1,822,116 |  |  | $ | 6.81 |
Summary of Activity Related to PSUs | A summary of the activity related to PSUs for the six months ended June 30, 2020 is presented below:
|  | Total |  |  | Weighted Average Grant Date Fair Value |
Outstanding at January 1, 2020 |  |  | 428,000 |  |  | $ | 2.09 |
PSUs granted |  |  | 267,677 |  |  |  | 1.25 |
PSUs forfeited |  |  | (62,000 | ) |  |  | 2.09 |
PSUs vested |  |  | – |  |  |  | – |
Outstanding at June 30, 2020 |  |  | 633,677 |  |  |  | 1.74 |
Summary of Fair Values of Stock Options Granted | The fair values of stock options granted were estimated using the following assumptions:
|  | Six Months Ended June 30, 2020 |  |  | Six Months Ended June 30, 2019 |
Stock price |  | $ | 1.77 |  |  | $ | 5.79 |
Dividend yield |  |  | 0 | % |  |  | 0 | %
Expected volatility |  |  | 61 | % |  |  | 96 | %
Risk-free interest rate |  |  | 1.57 | % |  |  | 2.51 | %
Expected life |  | 6 months |  |  | 6 months |
Summary of Stock-based Compensation Costs Recognized | The following tables summarize total stock-based compensation costs recognized for the three and six months ended June 30, 2020 and 2019:
|  | Three Months Ended June 30, |  |  | Six Months Ended June 30, |
|  | 2020 |  |  | 2019 |  |  | 2020 |  |  | 2019 |
RSUs |  | $ | 2,028,599 |  |  | $ | 2,675,184 |  |  | $ | 4,350,419 |  |  | $ | 5,758,751 |
PSUs |  |  | – |  |  |  | – |  |  |  | (88,348 | ) |  |  | – |
ESPP |  |  | 41,308 |  |  |  | 122,749 |  |  |  | 84,135 |  |  |  | 210,574 |
Total |  | $ | 2,069,907 |  |  | $ | 2,797,933 |  |  | $ | 4,346,206 |  |  | $ | 5,969,325 |
Summary of Stock-based Compensation Reflected within Statements of Operations | The total amount of stock-based compensation was reflected within the statements of operations as:
|  | Three Months Ended June 30, |  |  | Six Months Ended June 30, |
|  | 2020 |  |  | 2019 |  |  | 2020 |  |  | 2019 |
Research and development |  | $ | 1,032,049 |  |  | $ | 1,361,225 |  |  | $ | 2,133,027 |  |  | $ | 3,017,778 |
Sales and marketing |  |  | 440,335 |  |  |  | 343,945 |  |  |  | 804,793 |  |  |  | 720,993 |
General and administrative |  |  | 597,523 |  |  |  | 1,092,763 |  |  |  | 1,408,386 |  |  |  | 2,230,554 |
Total |  | $ | 2,069,907 |  |  | $ | 2,797,933 |  |  | $ | 4,346,206 |  |  | $ | 5,969,325 |

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- Definition Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(1) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SAB Topic 14.F) -URI http://asc.fasb.org/extlink&oid=115993241&loc=d3e301413-122809 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5047-113901 + Details
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- Definition Tabular disclosure of the changes in outstanding nonvested restricted stock units. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(2) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure of the number and weighted-average grant date fair value for outstanding performance shares. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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