v3.19.3.a.u2
Shareholders' Equity (Tables)
 12 Months Ended
Dec. 31, 2019
Equity [Abstract]  
Summary of the Stock Option and RSU Award Activities
The following table summarizes the stock option and RSU award activities under the Company's share-based compensation plans for the years ended December 31, 2019 and 2018:

 
Shares Subject to Options Outstanding
 
Outstanding RSUs
 
Number of Options (1)
 
Weighted Average Exercise Price
$
 
Remaining Contractual Term (in years)
 
Aggregate Intrinsic Value (2)
$
 
Weighted Average Grant Date Fair Value
$
 
Outstanding RSUs
 
Weighted Average Grant Date Fair Value
$
December 31, 2017
7,353,546

 
20.67

 
6.81

 
590,700

 
—

 
2,498,678

 
53.84

Stock options granted
486,434

 
138.12
 
—

 
—

 
69.81

 
—

 

Stock options exercised
(2,179,999
)
 
13.99
 
—

 
—

 
—

 
—

 

Stock options forfeited
(183,191
)
 
44.58
 
—

 
—

 
—

 
—

 

RSUs granted
—

 
—

 
—

 
—

 
—

 
1,127,094

 
139.58

RSUs settled
—

 
—

 
—

 
—

 
—

 
(935,002
)
 
51.72

RSUs forfeited
—

 
—

 
—

 
—

 
—

 
(217,105
)
 
68.70

December 31, 2018
5,476,790

 
32.96

 
6.23

 
577,731

 
—

 
2,473,665

 
92.40

Stock options granted
488,485

 
165.03
 
—

 
—

 
—

 
—

 
—

Stock options exercised
(2,084,063
)
 
23.19
 
—

 
—

 
—

 
—

 
—

Stock options forfeited
(68,970
)
 
68.24
 
—

 
—

 
—

 
—

 
—

RSUs granted
—

 
—

 
—

 
—

 
—

 
888,991

 
232.09

RSUs settled
—

 
—

 
—

 
—

 
—

 
(1,252,250
)
 
84.98

RSUs forfeited
—

 
—

 
—

 
—

 
—

 
(170,488
)
 
116.06

December 31, 2019
3,812,242

 
54.59
 
6.14

 
1,307,565

 
—

 
1,939,918

 
159.13

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Stock options exercisable as of December 31, 2019
2,510,366

 
25.19
 
5.19

 
934,823

 
 
 
 
 
 
(1) As at December 31, 2019, 1,506,573 of the outstanding stock options were granted under the Company's Legacy Option Plan and are exercisable for Class B multiple voting shares, 2,220,564 of the outstanding stock options were granted under the Company's Stock Option Plan and are exercisable for Class A subordinate voting shares, and 85,105 of the outstanding stock options were granted under the 6 River Systems 2016 Amended and Restated Stock Option and Grant Plan and are exercisable for Class A subordinate voting shares.
(2) The aggregate intrinsic value is calculated as the difference between the exercise price of the underlying stock option awards and the closing market price of the Company's Class A subordinate voting shares as of December 31, 2019 and December 31, 2018.
Schedule of Assumptions Used to Estimate the Fair Value of Stock Options
The grant weighted average assumptions used to estimate the fair value of stock options granted to employees were as follows:
    
 
Years ended
 
December 31, 2019
 
December 31, 2018
Expected volatility
50.7
%

54.2
%
Risk-free interest rate
2.25
%

2.72
%
Dividend yield
Nil


Nil

Average expected life
4.77


5.31
Schedule of Classification of Stock-based Compensation
The following table illustrates the classification of stock-based compensation in the Consolidated Statements of Operations and Comprehensive Loss, which includes both stock-based compensation and restricted share-based compensation expense:
    
 
Years ended
 
December 31, 2019
 
December 31, 2018
 
$
 
$
Cost of revenues
3,572

 
2,232

Sales and marketing
33,917

 
21,928

Research and development
93,549

 
55,164

General and administrative
27,418

 
16,396

 
158,456

 
95,720