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Stock-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2016
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Summary of Share Based Fair Value Assumptions

The fair value of options granted were estimated using the Black-Scholes-Merton option pricing model based on the assumptions in the table below:

 

 

 

Years ended December 31,

 

 

 

2016

 

 

2015

 

 

2014

 

Expected dividend yield

 

 

0%

 

 

 

0%

 

 

 

0%

 

Expected volatility

 

 

47%

 

 

45% - 56%

 

 

46% - 63%

 

Risk-free interest rate

 

1.13% - 2.09%

 

 

1.44% - 1.95%

 

 

1.60% - 2.30%

 

Expected life (in years)

 

5.5 - 6.3

 

 

5.5 - 6.3

 

 

5.2 - 7.0

 

 

Schedule of Stock Option Activity

The following table summarizes the Company’s stock option activity, including grants to non-employees, for the year ended December 31, 2016:

 

 

 

 

 

 

 

 

 

 

 

Weighted-

 

 

 

 

 

 

 

 

 

 

 

Average

 

 

 

 

 

 

 

Weighted-

 

 

Remaining

 

 

 

Number of

 

 

Average

 

 

Contractual

 

 

 

Shares

 

 

Exercise Price

 

 

Term (Years)

 

Options outstanding at December 31, 2015

 

 

8,300,819

 

 

$

2.63

 

 

 

8.23

 

Granted

 

 

5,368,755

 

 

 

2.81

 

 

 

 

 

Forfeited

 

 

(797,301

)

 

 

3.53

 

 

 

 

 

Cancelled

 

 

(152,946

)

 

 

4.61

 

 

 

 

 

Exercised

 

 

(230,776

)

 

 

0.71

 

 

 

 

 

Options outstanding at December 31, 2016

 

 

12,488,551

 

 

$

2.66

 

 

 

8.08

 

 

Schedule of Stock Options Outstanding

The following table summarizes information about stock options outstanding at December 31, 2016:

 

 

 

 

 

 

 

 

 

 

 

Weighted

 

 

 

 

 

 

 

 

 

 

 

Average

 

 

 

 

 

 

 

Weighted

 

 

Remaining

 

 

 

Number of

 

 

Average

 

 

Contractual

 

 

 

Shares

 

 

Exercise Price

 

 

Term (Years)

 

Exercisable at December 31, 2016

 

 

4,822,183

 

 

$

2.43

 

 

 

6.65

 

Vested or expected to vest at December 31, 2016

 

 

11,987,933

 

 

$

2.66

 

 

 

8.03