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Equity Incentive Plan (Tables)
3 Months Ended
Mar. 31, 2016
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Schedule of Stock Option Plans

A summary of the status of the Company’s option plans as of March 31, 2016 and changes during the period then ended is presented below:

 

 

 

Three months ended

March 31, 2016

 

 

 

Unaudited

 

 

 

Number

of options

 

 

Weighted

average

exercise

price

 

Outstanding at beginning of year

 

 

10,134,829

 

 

$

8.20

 

Granted

 

 

1,711,575

 

 

 

14.45

 

Exercised

 

 

(332,984

)

 

 

0.17

 

Forfeited and cancelled

 

 

(24,620

)

 

 

16.54

 

 

 

 

 

 

 

 

 

 

Outstanding as of March 31, 2016

 

 

11,488,800

 

 

 

9.35

 

 

 

 

 

 

 

 

 

 

Exercisable options

 

 

5,871,196

 

 

 

4.18

 

 

 

 

 

 

 

 

 

 

Vested and expected to vest

 

 

11,303,362

 

 

$

9.27

 

 

Schedule of Fair Value of Share Based Awards Using Black-Scholes Option Pricing Model

The fair value of share-based awards was estimated using the Black-Scholes option-pricing model for all grants with the following underlying assumptions: 

 

 

 

Three months ended

March 31,

 

 

Year ended

December 31,

 

 

2016

 

2015

 

 

2015

 

 

Unaudited

 

 

Audited

Expected term (years)

 

6.25

 

 

6.25

 

 

6.25

Expected volatility

 

59.80%-60.19%

 

 

65.80

%

 

59.00%-65.80%

Risk-free interest rate

 

1.52%-1.88%

 

 

1.90

%

 

1.74%-2.05%

Dividend yield

 

0%

 

0%

 

 

0%

 

Schedule of Non-cash Share-based Compensation Expense Related to Company's Equity-Based Awards

 

The total non-cash share-based compensation expenses related to all of the Company’s equity-based awards recognized for the three months ended March 31, 2016 and 2015 and the year ended December 31, 2015 were:

 

 

 

Three months ended

March 31,

 

 

Year ended

December 31,

 

 

 

2016

 

 

2015

 

 

2015

 

 

 

Unaudited

 

 

Audited

 

Cost of revenues

 

$

141

 

 

$

13

 

 

$

174

 

Research, development and clinical trials

 

 

763

 

 

 

421

 

 

 

2,529

 

Sales and marketing

 

 

1,290

 

 

 

408

 

 

 

2,496

 

General and administrative

 

 

3,262

 

 

 

970

 

 

 

6,661

 

Total share-based compensation expense

 

$

5,456

 

 

$

1,812

 

 

$

11,860