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Stock-Based Compensation (Tables)
 9 Months Ended
Dec. 31, 2019
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
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 nine months ended December 31, 2019 and 2018:

 

 

 

For the Three Months Ended December 31,

 

 

For the Nine Months Ended December 31,

 

 

 

 

2019

 

 

 

2018

 

 

 

2019

 

 

 

2018

 

 

 

(in $000's)

 

Cost of product revenue

 

$

809

 

 

$

773

 

 

$

2,531

 

 

$

2,122

 

Research and development

 

 

1,586

 

 

 

2,638

 

 

 

5,292

 

 

 

7,222

 

Selling, general and administrative

 

 

8,179

 

 

 

12,167

 

 

 

29,196

 

 

 

34,413

 

 

 

$

10,574

 

 

$

15,578

 

 

$

37,019

 

 

$

43,757

 
Summary of Stock Option Activity

The following table summarizes the stock option activity for the nine months ended December 31, 2019:

 

 

 

 

 

 

 

 

 

 

 

Weighted

 

 

 

 

 

 

 

 

 

 

 

Weighted

 

 

Average

 

 

Aggregate

 

 

 

 

 

 

 

Average

 

 

Remaining

 

 

Intrinsic

 

 

 

Options

 

 

Exercise

 

 

Contractual

 

 

Value

 

 

 

(in thousands)

 

 

Price

 

 

Term (years)

 

 

(in thousands)

 

Outstanding at beginning of period

 

 

853

 

 

$

87.14

 

 

 

5.57

 

 

 

 

 

Granted

 

 

117

 

 

 

259.52

 

 

 

 

 

 

 

 

 

Exercised

 

 

(65

)

 

 

48.67

 

 

 

 

 

 

 

 

 

Cancelled and expired

 

 

(14

)

 

 

235.87

 

 

 

 

 

 

 

 

 

Outstanding at end of period

 

 

891

 

 

$

110.27

 

 

 

5.46

 

 

$

79,843

 

Exercisable at end of period

 

 

668

 

 

$

62.60

 

 

 

4.39

 

 

$

77,717

 

Options vested and expected to vest at end of period

 

 

888

 

 

$

110.28

 

 

 

5.46

 

 

$

79,672

 
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 nine months ended December 31, 2019 and 2018 was as follows:

 

 

 

For the Three Months Ended December 31,

 

 

For the Nine Months Ended December 31,

 

 

 

 

2019

 

 

 

2018

 

 

 

2019

 

 

 

2018

 

Weighted average grant-date fair value

 

$

74.61

 

 

$

117.50

 

 

$

93.68

 

 

$

142.08

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Valuation assumptions:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Risk-free interest rate

 

 

1.68

%

 

 

2.81

%

 

 

1.99

%

 

 

2.93

%

Expected option life (years)

 

 

4.10

 

 

 

4.04

 

 

 

4.14

 

 

 

4.04

 

Expected volatility

 

 

42.36

%

 

 

45.2

%

 

 

42.34

%

 

 

42.8

%
Summary of Restricted Stock Units Activity

 

The following table summarizes activity of restricted stock units for the nine months ended December 31, 2019:

 

 

 

Number of

Shares

 

 

Weighted

Average

Grant Date

Fair Value

 

 

 

(in thousands)

 

 

(per share)

 

Restricted stock units at beginning of period

 

 

620

 

 

$

193.53

 

Granted

 

 

159

 

 

 

260.13

 

Vested

 

 

(391

)

 

 

144.39

 

Forfeited

 

 

(65

)

 

 

307.40

 

Restricted stock units at end of period

 

 

323

 

 

$

264.48