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Stock-Based Compensation (Tables)
 6 Months Ended
Sep. 30, 2016
Stock-Based Compensation Recognized

The following table summarizes stock-based compensation expense by financial statement line item in the Company’s condensed consolidated statements of operations for the three and six months ended September 30, 2016 and 2015:

 

 

 

For the Three Months Ended September 30,

 

 

For the Six Months Ended September 30,

 

 

 

 

2016

 

 

 

2015

 

 

 

2016

 

 

 

2015

 

 

 

(in $000's)

 

 

(in $000's)

 

Cost of product revenue

 

$

221

 

 

$

218

 

 

$

520

 

 

$

455

 

Research and development

 

 

2,638

 

 

 

989

 

 

 

3,893

 

 

 

1,920

 

Selling, general and administrative

 

 

6,791

 

 

 

9,586

 

 

 

13,634

 

 

 

13,217

 

 

 

$

9,650

 

 

$

10,793

 

 

$

18,047

 

 

$

15,592

 

 
Summary of Stock Option Activity

The following table summarizes the stock option activity for the six months ended September 30, 2016:

 

 

 

 

 

 

 

 

 

 

 

Weighted

 

 

 

 

 

 

 

 

 

 

 

Weighted

 

 

Average

 

 

Aggregate

 

 

 

 

 

 

 

Average

 

 

Remaining

 

 

Intrinsic

 

 

 

Options

 

 

Exercise

 

 

Contractual

 

 

Value

 

 

 

(in thousands)

 

 

Price

 

 

Term (years)

 

 

(in thousands)

 

Outstanding at beginning of period

 

 

2,244

 

 

$

20.55

 

 

 

5.19

 

 

 

 

 

Granted

 

 

138

 

 

 

103.32

 

 

 

 

 

 

 

 

 

Exercised

 

 

(434

)

 

 

13.29

 

 

 

 

 

 

 

 

 

Cancelled and expired

 

 

(12

)

 

 

53.34

 

 

 

 

 

 

 

 

 

Outstanding at end of period

 

 

1,936

 

 

$

27.87

 

 

 

5.52

 

 

$

195,015

 

Exercisable at end of period

 

 

1,448

 

 

$

17.16

 

 

 

4.56

 

 

$

161,380

 

Options vested and expected to vest at end of period

 

 

1,893

 

 

$

27.12

 

 

 

5.45

 

 

$

192,059

 

 
Summary of Weighted Average Grant-Date Fair Values And Weighted Average Assumptions Used to Calculate Fair Value of Options Granted

The weighted average grant-date fair values and weighted average assumptions used in the calculation of fair value of options granted during the three and six months ended September 30, 2016 and 2015 was as follows:

 

 

 

For the Three Months Ended September 30,

 

 

For the Six Months Ended September 30,

 

 

 

 

2016

 

 

 

2015

 

 

 

2016

 

 

 

2015

 

Weighted average grant-date fair value

 

$

46.50

 

 

$

30.12

 

 

$

41.60

 

 

$

28.26

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Valuation assumptions:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Risk-free interest rate

 

 

1.11

%

 

 

1.63

%

 

 

1.32

%

 

 

1.59

%

Expected option life (years)

 

 

4.14

 

 

 

4.13

 

 

 

4.13

 

 

 

4.14

 

Expected volatility

 

 

49.0

%

 

 

48.3

%

 

 

49.6

%

 

 

49.7

%

 
Restricted Stock Units  
Summary of Restricted Stock Units Activity

 

The following table summarizes activity of restricted stock units for the six months ended September 30, 2016:

 

 

 

Number of

Shares

 

 

Weighted

Average

Grant Date

Fair Value

 

 

 

(in thousands)

 

 

(per share)

 

Restricted stock units at beginning of period

 

 

1,263

 

 

$

57.95

 

Granted

 

 

277

 

 

$

101.13

 

Vested

 

 

(489

)

 

$

34.36

 

Forfeited

 

 

(18

)

 

$

63.57

 

Restricted stock units at end of period

 

 

1,033

 

 

$

81.52