Stockholders' Equity (Deficit) (Tables)
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12 Months Ended |
Dec. 31, 2018 |
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| Schedule of Redeemable Convertible Preferred Stock |
Redeemable convertible preferred stock, $0.001 par value, as of December 31, 2017 consisted of:
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Shares
Authorized
|
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Shares
Issued and
Outstanding
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Original
Issue
Price Per
Share
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Carrying
Value
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Liquidation
Preference
|
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|
(in thousands, except for share and per share amounts)
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Series A
|
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|
3,503,692
|
|
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|
3,503,692
|
|
|
$
|
0.5900
|
|
|
$
|
1,992
|
|
|
$
|
2,067
|
|
|
Series B
|
|
|
24,515,966
|
|
|
|
24,345,936
|
|
|
|
0.8822
|
|
|
|
19,865
|
|
|
|
21,478
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|
Series C
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78,582,049
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|
|
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76,102,337
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0.4797
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|
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38,035
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36,506
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|
|
Series C-2
|
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8,338,892
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|
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|
8,338,892
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|
|
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0.5996
|
|
|
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4,845
|
|
|
|
5,000
|
|
|
Series D
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43,362,233
|
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43,362,233
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|
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0.5996
|
|
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|
25,900
|
|
|
|
26,000
|
|
|
Series D-2
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|
18,779,561
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|
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|
18,097,331
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|
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|
0.6596
|
|
|
|
11,868
|
|
|
|
11,937
|
|
|
Balance at December 31, 2017
|
|
|
177,082,393
|
|
|
|
173,750,421
|
|
|
|
|
|
|
$
|
102,505
|
|
|
$
|
102,988
|
|
|
| Schedule of Warrants Related to Redeemable Convertible Preferred Stock Outstanding and Exercisable Estimated Fair Value |
As of December 31, 2018 and 2017, the warrants related to redeemable convertible preferred stock outstanding and exercisable and their estimated fair value were as follows:
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Exercise
Price
Per Share
|
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Shares as of
December 31,
|
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Estimated Fair
Value as of
December 31,
|
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Stock
|
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Expiration Date
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2018
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2018
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2017
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2018
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2017
|
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(in thousands except for share and per share amounts)
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Series B redeemable
convertible preferred
|
|
June 2018
|
|
$
|
-
|
|
|
|
-
|
|
|
|
170,030
|
|
|
$
|
-
|
|
|
$
|
116
|
|
|
Series C redeemable
convertible preferred
|
|
September 2018
|
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|
-
|
|
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|
-
|
|
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|
2,479,712
|
|
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|
-
|
|
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|
1,263
|
|
|
Series D-2 redeemable
convertible preferred
|
|
September 2018
|
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|
-
|
|
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|
-
|
|
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|
682,230
|
|
|
|
-
|
|
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|
329
|
|
|
Series E redeemable
convertible preferred
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|
September 2018
|
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|
-
|
|
|
|
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
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Total
|
|
|
|
|
|
|
|
|
-
|
|
|
|
3,331,972
|
|
|
$
|
-
|
|
|
$
|
1,708
|
|
|
| Schedule of Common Stock Reserved for Future Issuance |
As of December 31, 2018, the Company had reserved common stock, on an if-converted basis, for issuance as follows:
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December 31,
|
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2018
|
|
|
2017
|
|
|
Redeemable convertible preferred stock
|
|
|
-
|
|
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|
5,063,404
|
|
|
Common stock options issued and outstanding
|
|
|
3,111,718
|
|
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|
835,320
|
|
|
Common stock award issued and outstanding
|
|
|
311,240
|
|
|
|
-
|
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|
Remaining shares reserved for issuance under 2004
and 2018 Equity Incentive Plan
|
|
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2,525,610
|
|
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|
91,149
|
|
|
Shares reserved for issuance under 2018 Employee
Stock Purchase Plan
|
|
|
230,000
|
|
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|
-
|
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|
Warrants to purchase redeemable convertible
preferred stock
|
|
|
-
|
|
|
|
93,527
|
|
|
Warrant to purchase common stock
|
|
|
71,813
|
|
|
|
1,099
|
|
|
Total
|
|
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6,250,381
|
|
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6,084,499
|
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|
| Warrants |
|
| Schedule of Warrants Valued Using Option Pricing Method |
Upon the completion of IPO on October 1, 2018, a majority of the redeemable convertible preferred stock warrants were converted into 71,813 shares of common stock warrants and were no longer revalued to fair value. As of September 30, 2018 and years ended December 31, 2017 and 2016, the warrants were valued using the Option Pricing Method and were estimated using the following assumptions:
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Nine months
Ended
|
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Year Ended December 31,
|
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|
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|
September 30,
2018
|
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2017
|
|
|
2016
|
|
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Average expected life (in years)
|
|
3.1-8.8
|
|
|
|
2.5
|
|
|
|
2.5
|
|
|
Expected volatility
|
|
62.42%-71.21%
|
|
|
|
85.3
|
%
|
|
|
84.7
|
%
|
|
Risk-free interest rate
|
|
2.88%-3.40%
|
|
|
|
1.55
|
%
|
|
|
0.83
|
%
|
|
Expected dividend
|
|
|
-
|
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|
-
|
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|
-
|
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