Equity Compensation (Tables)
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6 Months Ended |
Jun. 30, 2015 |
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| Equity Compensation |
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| Summary of stock option activity |
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Weighted
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Weighted
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Average
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Shares Subject
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Average
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Weighted
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Remaining
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to Options
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Grant Date
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Average
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Contractual
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Outstanding
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Fair Value
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Exercise Price
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Life (Years)
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Balance at December 31, 2014
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4,851,221
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$
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10.57
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Granted
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166,916
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$
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5.88
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11.64
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Exercised
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(151,776)
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4.89
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Expired
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(5,364)
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11.82
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Forfeited
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(38,736)
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13.92
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Balance at June 30, 2015
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4,822,261
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10.76
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Exercisable options at June 30, 2015
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2,856,014
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7.84
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5.6
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Vested and expected to vest at June 30, 2015
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4,666,097
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10.59
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6.7
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| Summary of stock options outstanding and exercisable |
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Options Outstanding
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Options Exercisable
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Weighted-
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Weighted-
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Weighted
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Average
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Average
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Average
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Number of
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Remaining
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Number of
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Remaining
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Exercise
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Underlying
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Contractual
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Underlying
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Contractual
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Range of Exercise Prices
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Price
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Shares
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Life (in years)
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Shares
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Life (in years)
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$
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0.78
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-
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1.72
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$
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1.17
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13,880
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0.3
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13,880
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0.3
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$
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1.97
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-
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3.38
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2.57
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238,101
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1.4
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238,101
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1.4
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$
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3.58
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-
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6.14
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5.66
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1,478,548
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5.2
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1,424,564
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5.2
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$
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6.34
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-
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9.94
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8.32
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991,857
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6.8
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723,881
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6.6
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$
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11.28
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-
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16.97
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13.72
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1,301,220
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8.6
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188,834
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6.0
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$
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17.66
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-
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22.92
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21.00
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798,655
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8.6
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266,754
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8.5
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4,822,261
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2,856,014
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| Summary of aggregate intrinsic-value of options exercised, exercisable, and vested and expected to vest |
The following table summarizes the aggregate intrinsic-value of options exercised, exercisable and vested and expected to vest (in thousands):
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For the Six Months Ended
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and as of June 30,
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2014
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2015
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Options Exercised
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$
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16,907
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$
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1,039
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Options Exercisable
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37,576
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6,991
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Options Vested and Expected to Vest
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49,142
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7,266
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| Schedule of assumptions used to estimate fair value of option awards |
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Three Months Ended
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Six Months Ended
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June 30,
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June 30,
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2014
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2015
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2014
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2015
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Expected volatility
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59
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%
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53
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%
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56
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-
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60
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%
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53
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-
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55
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%
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Expected dividends
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—
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%
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—
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%
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—
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%
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—
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%
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Expected terms (in years)
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6.0
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-
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6.1
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5.3
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-
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6.1
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3.8
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6.1
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5.3
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-
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6.1
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Risk-free rate
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1.7
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-
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1.9
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%
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1.5
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-
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1.8
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%
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1.1
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-
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2.0
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%
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1.3
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-
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1.8
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%
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| Schedule of total stock-based compensation expense classified in statements of operations |
Total stock-based compensation expense has been classified as follows in the accompanying statements of operations (in thousands):
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Three Months Ended
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Six Months Ended
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June 30,
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June 30,
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2014
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2015
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2014
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2015
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Cost of revenue
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$
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28
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$
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39
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$
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48
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$
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86
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Research and development
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642
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667
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1,120
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1,439
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Sales and marketing
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292
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387
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514
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841
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General and administrative
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446
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586
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973
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1,162
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Total stock-based compensation expense
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$
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1,408
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$
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1,679
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$
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2,655
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$
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3,528
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