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Employee Stock Options (Tables)
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12 Months Ended |
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Dec. 31, 2014
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| Employee Stock Options [Abstract] |
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| Allocation of Stock Option Compensation Expense |
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Years ended December 31, |
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| |
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2014 |
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2013 |
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|
2012 |
|
| Sales and marketing |
|
$ |
345 |
|
|
$ |
111 |
|
|
$ |
92 |
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| Research and development |
|
|
180 |
|
|
|
74 |
|
|
|
69 |
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| General and administrative |
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|
618 |
|
|
|
206 |
|
|
|
172 |
|
| |
|
$ |
1,143 |
|
|
$ |
391 |
|
|
$ |
333 |
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| Summary of Stock Option Activity |
The following table summarizes stock option activity under the Company's 2014 Plan (without regard to the conversion ratio used in the Merger discussed in Note 3, The Merger, Offering and Other Related Transactions):
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Weighted- |
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Average |
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Weighted- |
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Remaining |
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Aggregate |
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Stock |
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Average |
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Contractual |
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Intrinsic |
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Awards |
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Exercise Price |
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Life (Years) |
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Value |
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| Balance as of December 31, 2013 |
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|
7,555,324 |
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|
$ |
0.45 |
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|
|
|
|
|
|
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| Options granted |
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5,007,191 |
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$ |
1.31 |
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|
|
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| Options exercised |
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(397,976 |
) |
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$ |
0.30 |
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|
|
|
|
|
|
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| Options forfeited |
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(1,127,650 |
) |
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$ |
1.07 |
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|
|
|
|
|
|
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| Options cancelled |
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(245,808 |
) |
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$ |
0.42 |
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|
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| Balance as of December 31, 2014 |
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10,791,081 |
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$ |
0.79 |
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|
7.39 |
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$ |
6,754 |
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| Vested and expected to vest at December 31, 2014 |
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10,094,577 |
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$ |
0.77 |
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|
7.27 |
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$ |
6,532 |
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| Exercisable as of December 31, 2014 |
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|
5,136,036 |
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$ |
0.46 |
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|
5.60 |
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$ |
4,651 |
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| Schedule of shares available for grant |
Shares available for grant activity under the 2014 Plan is as follows for the year ended December 31, 2014:
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Shares Available |
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for Grant |
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| Shares authorized |
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14,410,000 |
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| Conversion of prior plan shares |
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(7,602,408 |
) |
| Grants made after Merger |
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(4,870,050 |
) |
| Options forfeited |
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|
1,127,650 |
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| Options cancelled |
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|
245,808 |
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Total shares available
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3,311,000 |
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| Summary of information about stock options outstanding |
The following table summarizes information about stock options outstanding as of December 31, 2014:
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Options Outstanding |
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Options Exercisable |
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Weighted-Average |
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Weighted |
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Weighted |
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| Range of |
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Remaining |
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Average |
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Average |
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| Exercise |
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Number of |
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Contractual Life |
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Exercise |
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Number of |
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Exercise |
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| Prices |
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Shares |
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|
(Years) |
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|
Price |
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Shares |
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Price |
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| $0.04 - $0.07 |
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870,611 |
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|
3.71 |
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$ |
0.05 |
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|
870,611 |
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$ |
0.05 |
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| $0.39 - $1.00 |
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7,633,920 |
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7.13 |
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$ |
0.65 |
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4,228,987 |
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$ |
0.53 |
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| $1.06 - $2.19 |
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2,286,550 |
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|
9.68 |
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$ |
1.55 |
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36,438 |
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$ |
2.02 |
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| |
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10,791,081 |
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|
7.39 |
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$ |
0.79 |
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5,136,036 |
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$ |
0.46 |
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| Schedule of Fair Value Calculation Assumptions |
The fair value of each stock option grant was estimated on the date of grant using the Black-Scholes option pricing model with the following assumptions and fair value per share:
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Years ended December 31, |
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2014 |
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2013 |
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2012 |
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| Dividend yield |
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— |
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— |
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— |
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| Risk-free interest rate |
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0.97% - 2.61% |
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0.83% - 1.93% |
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1.20% - 2.49% |
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| Expected term (in years) |
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3-10 |
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5-6 |
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5-6 |
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| Volatility |
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66% - 75% |
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65% - 71% |
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65% - 67% |
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