Share-Based Compensation

3 Months Ended

Mar. 31, 2019

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Share-Based Compensation

Share-based compensation expense is included in costs and expenses in the accompanying Unaudited Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) as follows:

	Three Months Ended March 31,
	2019		2018
Share-based compensation expense:
Cost of revenues	$	—	$	15
Sales and marketing		72		225
Technology support		41		153
General and administrative (1)		438		1,234
Share-based compensation costs		551		1,627
Amount capitalized to internal use software		—		1
Total share-based compensation costs	$	551	$	1,626

(1) During the three months ended March 31, 2018, the Company recorded $0.8 million of expense related to the acceleration of certain awards which were modified in connection with the termination of the Company’s former Chief Executive Officer. The vesting accelerated in accordance with the terms of the applicable award agreements.

Service-Based Options.  The Company granted the following service-based options for the three months ended March 31, 2019 and 2018:

	Three Months Ended March 31,
	2019		2018
Number of service-based options granted		1,042,883		1,500
Weighted average grant date fair value	$	1.81	$	4.30
Weighted average exercise price	$	3.41	$	8.19

These options are valued using a Black-Scholes option pricing model and generally vest one-third on the first anniversary of the grant date and ratably over twenty-four months thereafter.  The vesting of these awards is contingent upon the employee’s continued employment with the Company during the vesting period and vesting may be accelerated under certain conditions, including upon a change in control of the Company, termination without cause of an employee and voluntary termination by an employee with good reason.

The grant date fair value of stock options granted during these periods was estimated using the following weighted average assumptions:

	Three Months Ended March 31,
	2019			2018
Dividend yield		—			—
Volatility		65	%		64	%
Risk-free interest rate		2.5	%		2.4	%
Expected life (years)		4.4			4.5

Stock option exercises.  The following stock options were exercised during the three months ended March 31, 2019 and 2018, respectively:  

	Three Months Ended March 31,
	2019		2018
Number of stock options exercised		156,012		15,217
Weighted average exercise price	$	1.97	$	4.80