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Stock-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2017
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,

 

 

 

2017

 

 

2016

 

 

2015

 

Expected dividend yield

 

 

0%

 

 

 

0%

 

 

 

0%

 

Expected volatility

 

70% - 72%

 

 

47%

 

 

45% - 56%

 

Risk-free interest rate

 

1.84% - 2.29%

 

 

1.13% - 2.09%

 

 

1.44% - 1.95%

 

Expected life (in years)

 

5.5 - 6.3

 

 

5.5 - 6.3

 

 

5.5 - 6.3

 

 

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, 2017:

 

 

 

 

 

 

 

 

 

 

 

Weighted-

 

 

 

 

 

 

 

 

 

 

 

Average

 

 

 

 

 

 

 

Weighted-

 

 

Remaining

 

 

 

Number of

 

 

Average

 

 

Contractual

 

 

 

Shares

 

 

Exercise Price

 

 

Term (Years)

 

Options outstanding at December 31, 2016

 

 

12,488,551

 

 

$

2.66

 

 

 

8.08

 

Granted

 

 

4,746,250

 

 

 

1.25

 

 

 

 

 

Forfeited

 

 

(574,773

)

 

 

2.35

 

 

 

 

 

Cancelled

 

 

(227,419

)

 

 

4.16

 

 

 

 

 

Exercised

 

 

(738,934

)

 

 

0.59

 

 

 

 

 

Options outstanding at December 31, 2017

 

 

15,693,675

 

 

$

2.32

 

 

 

7.78

 

 

Schedule of Stock Options Outstanding

The following table summarizes information about stock options outstanding at December 31, 2017:

 

 

 

 

 

 

 

 

 

 

 

Weighted

 

 

 

 

 

 

 

 

 

 

 

Average

 

 

 

 

 

 

 

Weighted

 

 

Remaining

 

 

 

Number of

 

 

Average

 

 

Contractual

 

 

 

Shares

 

 

Exercise Price

 

 

Term (Years)

 

Exercisable at December 31, 2017

 

 

7,113,007

 

 

$

2.78

 

 

 

6.78

 

Vested or expected to vest at December 31, 2017

 

 

15,195,280

 

 

$

2.34

 

 

 

7.75