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Common Stock and Stock-Based Compensation (Tables)
9 Months Ended
Sep. 30, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule of Common Stock Repurchased
Under the 2016 Share Repurchase Program and 2017 Share Repurchase Program, the Company repurchased the following shares of common stock with cash resources during the nine months ended September 30, 2018:
Shares of common stock repurchased
340,971

Value of common stock repurchased
$
22,628


Summary of Stock Options, RSU and PSU Activity
A summary of stock option, RSU and PSU activity under the 2014 Plan during the nine months ended September 30, 2018 and 2017 is presented below:
 
Stock Options
 
RSUs
 
PSUs
Outstanding at December 31, 2016
2,324,918

 

 

Granted
925,329

 

 

Options Exercised/RSUs Vested/PSUs Vested
(180,516
)
 

 

Forfeited or expired
(107,102
)
 

 

Outstanding at September 30, 2017
2,962,629

 

 

 
 
 
 
 
 
Outstanding at December 31, 2017
2,786,568

 

 

Granted
652,625

 
64,080

 
127,080

Options Exercised/RSUs Vested/PSUs Vested
(499,592
)
 

 

Forfeited or expired
(391,609
)
 
(9,861
)
 
(9,861
)
Outstanding at September 30, 2018
2,547,992

 
54,219

 
117,219

Fair Value of Stock Options
The fair value of stock options granted to employees, directors, and consultants were estimated using the following assumptions:
 
Three Months Ended 
 September 30,
 
Nine Months Ended 
 September 30,
 
2018
 
2017
 
2018
 
2017
Risk-free interest rate
2.72% - 2.90%
 
1.79% - 2.18%
 
2.30% - 2.94%
 
1.79% - 2.42%
Volatility
43.76%
 
34.35%
 
43.76%
 
36.97%
Expected term (in years)
6.08 years
 
5.50 - 7.00 years
 
5.50 - 6.08 years
 
5.50 - 7.00 years
Expected dividend yield
0.0%
 
0.0%
 
0.0%
 
0.0%
Schedule of Compensation Cost for Share-based Payment Arrangements, Allocation of Share-based Compensation Costs by Plan [Table Text Block]
The Company recognized stock-based compensation in its condensed consolidated statements of income for the three and nine months ended September 30, 2018 and 2017 as follows:
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
2018
 
2017
 
2018
 
2017
Stock options
$
3,514

 
$
3,728

 
$
11,725

 
$
11,618

RSUs
176

 

 
513

 

PSUs
782

 

 
2,274

 

Stock-based compensation expense
$
4,472

 
$
3,728

 
$
14,512

 
$
11,618

 
 
 
 
 
 
 
 
Selling, general and administrative
$
3,641

 
$
2,795

 
$
11,418

 
$
8,662

Research and development
831

 
933

 
3,094

 
2,956

Stock-based compensation expense
$
4,472

 
$
3,728

 
$
14,512

 
$
11,618