Share-Based Compensation

6 Months Ended

Jun. 30, 2019

Share-based Payment Arrangement [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 Loss as follows:

	Three Months Ended June 30,				Six Months Ended June 30,
	2019		2018		2019		2018
Share-based compensation expense:
Cost of revenues	$	—	$	4	$	—	$	19
Sales and marketing		66		159		138		384
Technology support		52		173		93		326
General and administrative (1)		442		607		880		1,841
Share-based compensation costs		560		943		1,111		2,570
Amount capitalized to internal use software		—		—		—		1
Total share-based compensation costs	$	560	$	943	$	1,111	$	2,569

(1) Certain awards were modified in connection with the termination of employment of two of the Company’s former executive officers. In accordance with the terms of applicable award agreements and/or consulting agreements, the vesting of certain awards was accelerated, and the terms of certain awards were modified. The Company recorded $0.8 million of expense related to the acceleration of certain awards and expense related to the modification of awards of approximately $0.1 million during the six months ended June 30, 2018.

 Service-Based Options.  The Company granted the following service-based options for the three and six months ended June 30, 2019 and 2018, respectively:  

	Three Months Ended June 30,				Six Months Ended June 30,
	2019		2018		2019		2018
Number of service-based options granted		140,000		1,715,200		1,182,883		1,716,700
Weighted average grant date fair value	$	1.84	$	1.83	$	1.82	$	1.84
Weighted average exercise price	$	3.45	$	3.29	$	3.42	$	3.30

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 will be accelerated in the event of 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 Black-Scholes option pricing model using the following weighted average assumptions:

	Three Months Ended June 30,						Six Months Ended June 30,
	2019			2018			2019			2018
Dividend yield		—			—			—			—
Volatility		66	%		68	%		65	%		68	%
Risk-free interest rate		2.2	%		2.6	%		2.5	%		2.6	%
Expected life (years)		4.4			4.5			4.4			4.5

Stock option exercises.  The following stock options were exercised during the three and six months ended June 30, 2019 and 2018, respectively:  

	Three Months Ended June 30,				Six Months Ended June 30,
	2019		2018		2019		2018
Number of stock options exercised		57,036		750		213,048		15,967
Weighted average exercise price	$	1.77	$	2.20	$	1.92	$	4.68