Common Stock, Stock-Based Awards and Warrants (Tables)
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12 Months Ended |
Dec. 31, 2018 |
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| Equity [Abstract] |
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| Schedule of Stock Options, Valuation Assumptions |
The fair values of stock options issued were determined on the grant date using the Black-Scholes option pricing model and the following level 3 assumptions for the years ended December 31, 2018, 2017 and 2016, respectively:
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2018 |
|
2017 |
|
2016 |
Common stock price on grant date |
$ |
2.69 |
|
|
$ |
2.74 |
|
|
$ |
8.34 |
|
Expected life (in years) |
4.75 |
|
|
4.75 |
|
|
3.91 |
|
Risk-free interest rate |
2.76 |
% |
|
2.26 |
% |
|
1.15 |
% |
Expected stock volatility |
64 |
% |
|
52 |
% |
|
44 |
% |
Expected dividend yield |
0 |
% |
|
0 |
% |
|
0 |
% |
Fair value of stock options granted |
$ |
1.47 |
|
|
$ |
0.93 |
|
|
$ |
2.93 |
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| Schedule of Share-based Compensation, Stock Options, Activity |
Stock option activity for the year ended December 31, 2018 is as follows:
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Shares
(in thousands)
|
|
Weighted Average Exercise Price |
|
Weighted Average Remaining Contractual Term (in years) |
|
Aggregate Intrinsic Value
(in thousands)
|
Balance unexercised at January 1, 2018 |
7,167 |
|
|
$ |
8.69 |
|
|
2.31 |
|
$ |
— |
|
Granted |
1,205 |
|
|
$ |
2.69 |
|
|
|
|
|
|
Exercised |
— |
|
|
$ |
— |
|
|
|
|
|
Forfeited |
(3,100 |
) |
|
$ |
9.68 |
|
|
|
|
|
Balance unexercised at December 31, 2018 |
5,272 |
|
|
$ |
6.73 |
|
|
3.34 |
|
$ |
— |
|
Exercisable at December 31, 2018 |
3,040 |
|
|
$ |
8.71 |
|
|
2.26 |
|
$ |
— |
|
Vested and expected to vest after December 31, 2018 |
5,272 |
|
|
$ |
6.73 |
|
|
3.34 |
|
$ |
— |
|
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| Schedule of Share-based Compensation, Stock Options, by Exercise Price Range |
The following is a summary of the Company’s stock options outstanding at December 31, 2018:
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Range of Exercise Price |
Number Outstanding
(in thousands)
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|
Weighted Average Remaining Contractual Term (in years) |
|
Weighted Average Exercise Price |
|
Number Exercisable
(in thousands)
|
|
Weighted Average Exercise Price |
$13.54 - $13.54 |
100 |
|
|
1.42 |
|
$ |
13.54 |
|
|
88 |
|
|
$ |
13.54 |
|
$12.90 - $13.26 |
528 |
|
|
0.98 |
|
$ |
13.06 |
|
|
519 |
|
|
$ |
13.06 |
|
$10.57 - $12.51 |
744 |
|
|
0.83 |
|
$ |
11.28 |
|
|
702 |
|
|
$ |
11.22 |
|
$6.34 - $9.25 |
634 |
|
|
2.68 |
|
$ |
8.98 |
|
|
461 |
|
|
$ |
8.99 |
|
$6.22 - $6.22 |
1,000 |
|
|
2.67 |
|
$ |
6.22 |
|
|
747 |
|
|
$ |
6.22 |
|
$6.18 - $6.18 |
104 |
|
|
2.49 |
|
$ |
6.18 |
|
|
65 |
|
|
$ |
6.18 |
|
$3.21 - $3.21 |
926 |
|
|
5.27 |
|
$ |
3.21 |
|
|
434 |
|
|
$ |
3.21 |
|
$2.92 - $2.92 |
190 |
|
|
5.41 |
|
$ |
2.92 |
|
|
5 |
|
|
$ |
2.92 |
|
$2.65 - $2.65 |
960 |
|
|
5.47 |
|
$ |
2.65 |
|
|
9 |
|
|
$ |
2.65 |
|
$2.35 - $2.50 |
86 |
|
|
6.13 |
|
$ |
2.47 |
|
|
10 |
|
|
$ |
2.50 |
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|
5,272 |
|
|
3.34 |
|
$ |
6.73 |
|
|
3,040 |
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|
$ |
8.71 |
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| Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity |
RSU activity during the year ended December 31, 2018 was as follows:
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Shares (in thousands) |
|
Weighted Average Grant Date Fair Value |
|
Aggregate Intrinsic Value (in thousands) |
Balance nonvested at January 1, 2018 |
4,697 |
|
|
$ |
3.53 |
|
|
$ |
10,757 |
|
Granted |
3,392 |
|
|
2.65 |
|
|
Vested |
(1,325 |
) |
|
3.61 |
|
|
Forfeited |
(852 |
) |
|
3.42 |
|
|
Balance nonvested at December 31, 2018 |
5,913 |
|
|
3.03 |
|
13,185 |
|
Vested and expected to vest at December 31, 2018 |
5,891 |
|
|
$ |
3.02 |
|
|
$ |
13,138 |
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| Schedule of Share-based Compensation Expense Allocation |
Stock-based compensation expense related to all employee and, where applicable, non-employee stock-based awards was as follows for the years ended December 31, 2018, 2017 and 2016 (in thousands):
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Year Ended December 31, |
|
2018 |
|
2017 |
|
2016 |
Consolidated Statement of Operations Classification: |
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Cost of sales |
$ |
547 |
|
|
$ |
300 |
|
|
$ |
313 |
|
Sales and marketing |
498 |
|
|
423 |
|
|
629 |
|
Product development |
753 |
|
|
634 |
|
|
994 |
|
General and administrative |
11,019 |
|
|
6,228 |
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|
8,811 |
|
Total |
$ |
12,817 |
|
|
$ |
7,585 |
|
|
$ |
10,747 |
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| Schedule of Share-based Compensation, Warrants, Activity |
The following is a summary of Public SPAC Warrants for the year ended December 31, 2018:
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Number of Warrants (in thousands) |
|
Weighted Average Exercise price |
|
Weighted Average Remaining Contractual Term (in years) |
Outstanding at January 1, 2018 |
6,173 |
|
|
$ |
11.50 |
|
|
0.09 |
Expired |
(6,173 |
) |
|
— |
|
|
|
Outstanding and exercisable at December 31, 2018 |
— |
|
|
$ |
— |
|
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|