Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation (Tables)

v3.5.0.2
Stock-Based Compensation (Tables)
9 Months Ended
Sep. 30, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Summary of Employee and Nonemployee Stock Option Activity
A summary of employee and non-employee stock option activity for the nine months ended September 30, 2016 is as follows:
 
Options Outstanding
 
Weighted-
Average
Remaining
Contractual
Term (in years)
 
Aggregate
Intrinsic
Value
(in thousands)
 
Number of
Shares
(in thousands)
 
Weighted-
Average
Exercise
Price
 
Outstanding January 1, 2016
1,961

 
$
10.55

 
7.68
 
$

Granted
304

 
2.01

 
 
 
 
Cancelled or expired
(137
)
 
8.78

 
 
 
 
Outstanding September 30, 2016
2,128

 
$
9.44

 
7.18
 
$

Exercisable September 30, 2016
1,250

 
$
10.35

 
6.24
 
$

Weighted-Average Assumptions Used to Estimate Fair Value of Options Granted
The following table presents the weighted-average assumptions used to estimate the fair value of options reaching their measurement date for non-employees during the periods presented:
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
2016
 
2015
 
2016
 
2015
Volatility
72.97
%
 
69.56
%
 
74.50
%
 
69.97
%
Risk free interest rate
1.46
%
 
2.02
%
 
1.43
%
 
2.11
%
Dividend yield
0.00
%
 
0.00
%
 
0.00
%
 
0.00
%
Term (years)
7.64

 
8.58

 
7.89

 
8.84

The following table presents the weighted-average assumptions used to estimate the fair value of options granted to employees during the periods presented:
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
2016
 
2015
 
2016
 
2015
Volatility
74.30
%
 
55.71
%
 
74.30
%
 
61.16
%
Risk free interest rate
1.17
%
 
1.63
%
 
1.17
%
 
1.65
%
Dividend yield
0.00
%
 
0.00
%
 
0.00
%
 
0.00
%
Term (years)
5.92

 
6.16

 
5.92

 
6.15

Weighted-average fair value of options granted during the period
1.30

 
5.41

 
1.30

 
5.65

Nonvested Restricted Stock Shares Activity
The following table summarizes the activities for our non-vested restricted stock awards for the nine months ended September 30, 2016:
 
Non-vested Restricted Stock Awards
 
Number of
Shares
(in thousands)
 
Weighted-Average Grant Date Fair Value
Non-vested at January 1, 2016
121

 
$
8.25

Vested
(46
)
 
9.43

Cancelled
(2
)
 
$
9.02

Non-vested at September 30, 2016
73

 
$
7.49

Effects of Stock-Based Compensation Related to Awards
The following table presents the effects of stock-based compensation related to stock option and restricted stock awards to employees and non-employees on our Consolidated Statements of Operations during the periods presented (in thousands):
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
2016
 
2015
 
2016
 
2015
Cost of revenues
$
83

 
$
59

 
$
219

 
$
163

Research and development
45

 
93

 
140

 
316

General and administrative
356

 
530

 
1,095

 
1,586

Sales and marketing
30

 
42

 
84

 
113

Total stock-based compensation
$
514

 
$
724

 
$
1,538

 
$
2,178