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Stockholder's Equity
 9 Months Ended
Sep. 30, 2019
Share-based Payment Arrangement, Noncash Expense [Abstract]  
Stockholder's Equity
Stockholder's Equity
(a) Stock Equity and Incentive Plan
The Company recognizes stock-based compensation in accordance with the provisions of ASC Topic 718, Compensation-Stock Compensation. Stock-based compensation expense, excluding compensation charges related to our employee stock purchase plan, or the ESPP, was $1,093 and $849 for the three months ended September 30, 2019 and 2018, respectively, and $2,970 and $2,417 for the nine months ended September 30, 2019 and 2018, respectively. As of September 30, 2019, there was $3,351 of total unrecognized compensation expense related to stock options, which is expected to be recognized over a weighted-average period of 2.88 years. As of September 30, 2019, there was $4,163 of total unrecognized compensation expense related to restricted stock awards, which is expected to be recognized over a weighted-average period of 2.28 years.

Stock Options

During the three months ended September 30, 2019, 4 stock options were exercised for common stock. Additionally, during the three months ended September 30, 2019, 20 stock options were granted and 28 stock options expired, were canceled or were forfeited.

During the nine months ended September 30, 2019, 18 stock options were exercised for common stock, $144 of which was delivered to the Company as payment for the exercise price and none of which were surrendered for minimum tax withholding obligations. Additionally, during the nine months ended September 30, 2019, 630 stock options were granted with a weighted average grant date fair value of $3.09 per share and 127 stock options expired, were canceled or were forfeited. The Company has estimated the fair value of each option grant on the date of grant using the Black-Scholes option-pricing model. The weighted average assumptions utilized to determine the fair value of options granted during the nine months ended September 30, 2019 and 2018 were as follows:
 
 
 
 
 
Nine Months Ended
September 30,
 
2019
 
2018
Risk-free interest rate
1.91
%
 
2.81
%
Expected volatility
36.94
%
 
36.60
%
Expected life (in years)
4.27

 
4.29

Dividend yield
0
%
 
0
%


As of September 30, 2019, there were 1,761 options outstanding with a weighted average exercise price of $9.92 per share and 542 options exercisable with a weighted average exercise price of $10.28 per share.

Restricted Stock

During the three months ended September 30, 2019, 45 shares of restricted stock were granted with a weighted average grant date fair value of $8.90 per share, and 11 shares of restricted stock were forfeited. Additionally, during the three months ended September 30, 2019, 30 shares of restricted stock vested, of which no shares of common stock were surrendered to the Company as payment by employees in lieu of cash to satisfy minimum tax withholding obligations in connection with the vesting of restricted stock.

During the nine months ended September 30, 2019, 322 shares of restricted stock were granted with a weighted average grant date fair value of $9.66 per share and 31 shares of restricted stock were forfeited. Additionally, during the nine months ended September 30, 2019, 287 shares of restricted stock vested, of which no shares of common stock were surrendered to the Company as payment by employees in lieu of cash to satisfy minimum tax withholding obligations in connection with the vesting of restricted stock.
 
As of September 30, 2019, there were 531 shares of restricted stock outstanding that were still subject to service-based vesting conditions.

As of September 30, 2019, the Company had no unvested outstanding options and no shares of restricted stock that were subject to performance-based or market-based vesting conditions.

(b) Employee Stock Purchase Plan

The Company's Amended and Restated 1996 Employee Stock Purchase Plan (ESPP) affords eligible employees the right to purchase common stock, via payroll deductions, through various offering periods at a purchase price equal to 85% of the fair market value of the common stock on the first or last day of the offering period, whichever is lower. During the three and nine months ended September 30, 2019, 22 and 45 shares were issued under the ESPP plan, respectively. During the three and nine months ended September 30, 2018, 17 shares were issued under the ESPP plan. The Company recorded compensation charges related to the ESPP of $19 and $11 for the three months ended September 30, 2019 and 2018, respectively, and $49 and $35 for the nine months ended September 30, 2019 and 2018, respectively.

(c) Stock-Based Compensation Expense
    
The following table presents stock-based compensation expense, including expense for the ESPP, in the Company's consolidated statements of operations for the three and nine months ended September 30, 2019 and 2018:
 
Three Months Ended
September 30,
 
Nine Months Ended
September 30,
 
2019
 
2018
 
2019
 
2018
Cost of product sales
$
69

 
$
40

 
$
171

 
$
122

Research and development
221

 
177

 
589

 
496

Sales, marketing and support
226

 
138

 
620

 
485

General and administrative
596

 
505

 
1,639

 
1,349

 
$
1,112

 
$
860

 
$
3,019

 
$
2,452



(d) Accumulated Other Comprehensive Loss (AOCI)

Comprehensive income (loss) includes net income (loss), unrealized gains and losses from foreign currency translation, unrealized gains and losses from available for sale marketable securities and changes in fair value related to interest rate swap derivative instruments, net of tax attributes, which were not material. The components of the Company’s comprehensive income (loss) and the effect on earnings for the periods presented are detailed in the accompanying consolidated statements of comprehensive income (loss).

The balances for the three months ended September 30, 2019 and 2018 are as follows:
 
Foreign Currency Translation
 
Unrealized Gain (Loss) on Available for Sale Marketable Securities
 
Interest Rate Swaps
 
Total Accumulated Other Comprehensive Loss
Balance, June 30, 2019
$
(3,489
)
 
$
—

 
$
—

 
$
(3,489
)
Other comprehensive loss before reclassifications
(1,109
)
 
—

 
—

 
(1,109
)
Reclassified from AOCI
—

 
—

 
—

 
—

Net other comprehensive loss, September 30, 2019
(1,109
)
 
—

 
—

 
(1,109
)
Balance, September 30, 2019
$
(4,598
)
 
$
—

 
$
—

 
$
(4,598
)

 
Foreign Currency Translation
 
Unrealized Gain (Loss) on Available for Sale Marketable Securities
 
Interest Rate Swaps
 
Total Accumulated Other Comprehensive Loss
Balance, June 30, 2018
$
(12,669
)
 
$
—

 
$
(32
)
 
$
(12,701
)
Other comprehensive loss before reclassifications
(763
)
 
—

 
—

 
(763
)
Reclassified from AOCI
—

 
—

 
12

 
12

Net other comprehensive (loss) income, September 30, 2018
(763
)
 
—

 
12

 
(751
)
Balance, September 30, 2018
$
(13,432
)
 
$
—

 
$
(20
)
 
$
(13,452
)

The balances for the nine months ended September 30, 2019 and 2018 are as follows:

 
Foreign Currency Translation
 
Unrealized Gain (Loss) on Available for Sale Marketable Securities
 
Interest Rate Swaps
 
Total Accumulated Other Comprehensive Loss
Balance, December 31, 2018
$
(14,720
)
 
$
—

 
$
(11
)
 
$
(14,731
)
Other comprehensive (loss) income before reclassifications
(1,361
)
 
—

 
3

 
(1,358
)
Reclassified from AOCI
11,483

 
—

 
8

 
11,491

Net other comprehensive income, September 30, 2019
10,122

 
—

 
11

 
10,133

Balance, September 30, 2019
$
(4,598
)
 
$
—

 
$
—

 
$
(4,598
)
 
 
Foreign Currency Translation
 
Unrealized (Loss) Gain on Available for Sale Marketable Securities
 
Interest Rate Swaps
 
Total Accumulated Other Comprehensive Loss
Balance, December 31, 2017
$
(11,247
)
 
$
(1
)
 
$
(69
)
 
$
(11,317
)
Other comprehensive (loss) income before reclassifications
(2,185
)
 
1

 
11

 
(2,173
)
Reclassified from AOCI
—

 
—

 
38

 
38

Net other comprehensive (loss) income, September 30, 2018
(2,185
)
 
1

 
49

 
(2,135
)
Balance, September 30, 2018
$
(13,432
)
 
$
—

 
$
(20
)
 
$
(13,452
)


For additional information, see Note 4, "Marketable Securities," and Note 17, "Derivative Instruments and Hedging Activities."