Aware (AWRE) 10-Q 27 Apr 16 2016 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2016	Apr. 22, 2016
Document and Entity Information [Abstract]
Entity Registrant Name	AWARE INC /MA/
Entity Central Index Key	1,015,739
Trading Symbol	awre
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		22,993,139
Document Type	10-Q
Document Period End Date	Mar. 31, 2016
Amendment Flag	false
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q1

CONSOLIDATED BALANCE SHEETS (un

CONSOLIDATED BALANCE SHEETS (unaudited) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Current assets:
Cash and cash equivalents	$ 52,650	$ 51,232
Accounts receivable, net	3,839	4,743
Prepaid expenses and other current assets	677	483
Total current assets	57,166	56,458
Property and equipment, net	4,874	4,977
Investments	869	869
Deferred tax assets	872	999
Other assets	261	316
Total assets	64,042	63,619
Current liabilities:
Accounts payable	616	234
Accrued expenses	823	952
Accrued income taxes		236
Deferred revenue	5,102	5,885
Total current liabilities	6,541	7,307
Long-term deferred revenue	$ 311	$ 131
Commitments and contingent liabilities
Stockholders' equity:
Preferred stock, $1.00 par value; 1,000,000 shares authorized, none outstanding
Common stock, $.01 par value; 70,000,000 shares authorized; issued and outstanding 22,993,139 as of March 31, 2016 and 22,935,988 as of December 31, 2015	$ 230	$ 229
Additional paid-in capital	103,345	102,968
Accumulated other comprehensive loss	(67)	(64)
Accumulated deficit	(46,318)	(46,952)
Total stockholders' equity	57,190	56,181
Total liabilities and stockholders' equity	$ 64,042	$ 63,619

CONSOLIDATED BALANCE SHEETS (u3

CONSOLIDATED BALANCE SHEETS (unaudited) (Parentheticals) - $ / shares	Mar. 31, 2016	Dec. 31, 2015
Statement Of Financial Position [Abstract]
Preferred stock, par value (in dollars per share)	$ 1	$ 1
Preferred stock, shares authorized	1,000,000	1,000,000
Preferred stock, shares outstanding	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	70,000,000	70,000,000
Common stock, shares issued	22,993,139	22,935,988
Common stock, shares outstanding	22,993,139	22,935,988

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Revenue:
Software licenses	$ 2,774	$ 1,649
Software maintenance	1,282	1,153
Services	419	1,220
Hardware	286
Royalties	73	101
Total revenue	4,834	4,123
Costs and expenses:
Cost of software licenses	243
Cost of services	213	547
Cost of hardware	205
Research and development	1,649	1,435
Selling and marketing	920	972
General and administrative	724	785
Total costs and expenses	3,954	3,739
Operating income	880	384
Other income		12
Interest income	67	41
Income before provision for income taxes	947	437
Provision for income taxes	312	165
Net income	$ 635	$ 272
Net income per share - basic (in dollars per share)	$ 0.03	$ 0.01
Net income per share - diluted (in dollars per share)	$ 0.03	$ 0.01
Weighted-average shares - basic (in shares)	22,993	22,866
Weighted-average shares - diluted (in shares)	23,005	22,887
Comprehensive income:
Net income	$ 635	$ 272
Other comprehensive income (net of tax):
Unrealized gains/(losses) on available for sale securities	(4)	8
Comprehensive income	$ 631	$ 280

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Cash flows from operating activities:
Net income	$ 635	$ 272
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	162	145
Stock-based compensation	8	21
Deferred tax provision on other comprehensive income	1	(4)
Gain on sale of investments		(12)
Amortization of premium/(discount) on investments	(3)	(2)
Changes in assets and liabilities:
Accounts receivable	904	368
Prepaid expenses and other current assets	(194)	(514)
Deferred tax assets	127	185
Accounts payable	382	(67)
Accrued expenses	(129)	13
Accrued income taxes	(236)
Deferred revenue	(603)	(395)
Net cash provided by operating activities	1,054	10
Cash flows from investing activities:
Purchases of property and equipment	(5)	(14)
Sales of investments		529
Purchase of other assets		(320)
Net cash provided by (used in) investing activities	(5)	195
Cash flows from financing activities:
Excess tax benefits from stock-based compensation	430	582
Payments made for taxes of employees who surrendered shares related to unrestricted stock	(61)	(87)
Net cash provided by financing activities	369	495
Increase in cash and cash equivalents	1,418	700
Cash and cash equivalents, beginning of period	51,232	43,985
Cash and cash equivalents, end of period	52,650	44,685
Supplemental disclosure:
Cash paid for income taxes	$ 275	$ 5

Nature of Business

Nature of Business	3 Months Ended
	Mar. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Business	A) Nature of Business.

Basis of Presentation

Basis of Presentation	3 Months Ended
	Mar. 31, 2016
Basis Of Accounting [Abstract]
Basis of Presentation	B) Basis of Presentation. The accompanying unaudited consolidated balance sheets, statements of income and comprehensive income, and statements of cash flows reflect all adjustments (consisting only of normal recurring items) which are, in the opinion of management, necessary for a fair presentation of financial position at March 31, 2016, and of operations and cash flows for the interim periods ended March 31, 2016 and 2015. The results of operations for the interim period ended March 31, 2016 are not necessarily indicative of the results to be expected for the year.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2016
Fair Value Disclosures [Abstract]
Fair Value Measurements	C) Fair Value Measurements. Cash and cash equivalents, which primarily include money market mutual funds, were $52.7 million and $51.2 million as of March 31, 2016 and December 31, 2015, respectively. We classified our cash equivalents of $43.1 million and $43.0 million as of March 31, 2016 and December 31, 2015 within Level 1 of the fair value hierarchy because they are valued using quoted market prices. Our investments, which consist of high yield corporate debt securities, are also classified within Level 1 of the fair value hierarchy because they are valued using quoted market prices. We categorize our investments as available-for-sale securities, and carry them at fair value in our financial statements. We had $0.9 million of available-for-sale investments as of March 31, 2016 and December 31, 2015. As of March 31, 2016, our assets that are measured at fair value on a recurring basis and whose carrying values approximate their respective fair values include the following (in thousands): Fair Value Measurement at March 31, 2016 Using: Quoted Prices in Significant Other Significant (Level 1) (Level 2) (Level 3) Corporate debt securities $ 869 $ - $ - Money market funds (included in cash and cash equivalents) 43,095 Total $ 43,964 $ - $ - As of December 31, 2015, our assets that are measured at fair value on a recurring basis and whose carrying values approximate their respective fair values include the following (in thousands): Fair Value Measurement at December 31, 2015 Using: Quoted Prices in Significant Other Significant (Level 1) (Level 2) (Level 3) Corporate debt securities $ 869 $ - $ - Money market funds (included in cash and cash equivalents) 43,027 Total $ 43,896 $ - $ -

Computation of Earnings per Sha

Computation of Earnings per Share	3 Months Ended
	Mar. 31, 2016
Earnings Per Share [Abstract]
Computation of Earnings per Share	D) Computation of Earnings per Share. Net income per share is calculated as follows (in thousands, except per share data): Three Months Ended March 31, 2016 2015 Net income $ 635 $ 272 Weighted average common shares outstanding 22,993 22,866 Additional dilutive common stock equivalents 12 21 Diluted shares outstanding 23,005 22,887 Net income per share – basic $ 0.03 $ 0.01 Net income per share – diluted $ 0.03 $ 0.01 For the three month periods ended March 31, 2016 and 2015, options to purchase 64,034 and 54,034 shares of common stock were outstanding, but were not included in the computation of diluted EPS because the options’ exercise prices were greater than the average market price of the common stock and thus would be anti-dilutive.

Stock-Based Compensation

Stock-Based Compensation	3 Months Ended
	Mar. 31, 2016
Disclosure Of Compensation Related Costs, Share-Based Payments [Abstract]
Stock-Based Compensation	E) Stock-Based Compensation. Three Months Ended March 31, 2016 2015 Cost of services $ - $ 1 Research and development 1 2 Selling and marketing - - General and administrative operations 7 18 Stock-based compensation expense $ 8 $ 21 Stock Option Grants Unrestricted Stock Grants We granted shares of unrestricted stock in 2016 and 2015 that affected financial results for the three month periods ended March 31, 2016 and 2015. These grants are described below. 2016 Grant. 2015 Grant

Business Segments

Business Segments	3 Months Ended
	Mar. 31, 2016
Segment Reporting [Abstract]
Business Segments	F) Business Segments We conduct our operations in the United States and sell our products and services to domestic and international customers. Revenues were generated from the following geographic regions for the three months ended March 31, 2016 and 2015 (in thousands): Three Months Ended March 31, 2016 2015 United States $ 3,740 $ 2,488 Brazil 304 726 Rest of world 790 909 $ 4,834 $ 4,123 Revenue by product group for the three months ended March 31, 2016 and 2015 was (in thousands): Three Months Ended March 31, 2016 2015 Biometrics $ 3,285 $ 3,849 Imaging 1,476 173 DSL royalties 73 101 $ 4,834 $ 4,123

Recent Accounting Pronouncement

Recent Accounting Pronouncements	3 Months Ended
	Mar. 31, 2016
Accounting Changes and Error Corrections [Abstract]
Recent Accounting Pronouncements	G) Recent Accounting Pronouncements. In November 2015, the FASB issued Accounting Standard Update 2015-17, "Balance Sheet Classification of Deferred Taxes," which requires that deferred tax liabilities and assets be classified as noncurrent in a classified statement of financial position to simplify the presentation of deferred income taxes. The standard is effective prospectively for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2017, with early adoption permitted. We elected to early adopt this standard effective January 1, 2016. While the adoption of the standard did not have a material impact on our consolidated balance sheets, it is worth noting that we reclassified $184,000 of deferred tax assets that were previously included in current assets on our December 31, 2015 consolidated balance sheet. In March 2016, the FASB issued Accounting Standard Update 2016-09, “Improvements to Employee Share-Based Payment Accounting,” which is intended to simplify various aspects of how share-based payments are accounted for and presented in financial statements. The standard is effective prospectively for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2017, with early adoption permitted. We are currently evaluating the effect this standard will have on our consolidated financial statements and related disclosures. With the exception of the standards discussed above, there have been no other recently issued accounting pronouncements that are of significance or potential significance to us that we have not adopted as of March 31, 2016.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2016
Income Tax Disclosure [Abstract]
Income Taxes	H) Income Taxes . Income tax expense was $0.3 million and $0.2 million for the three months ended March 31, 2016 and 2015, respectively. Income tax expense in the three month periods of 2016 and 2015 was based on the U.S. statutory rate of 34%, increased by state income taxes, and reduced by permanent adjustments. Income tax expense in 2016 period was also reduced by research tax credits. In the three month period ended March 31, 2016, we utilized deferred tax assets to reduce our tax liability payable to the government. A portion of the deferred tax assets we used comprised cumulative deductions for stock options in excess of book expense. Under income tax accounting rules, that portion of tax benefits attributable to such deductions must be recorded as an adjustment to equity versus a reduction of income tax expense. The tax benefits from such stock-based awards were $0.4 million in the three month period ended March 31, 2016. These tax benefits were recorded as an equity adjustment to additional paid-in capital. As of March 31, 2016, we had a total of $0.9 million of deferred tax assets for which we had recorded no valuation allowance. We will continue to assess the level of valuation allowance in future periods. Should evidence regarding the realizability of tax assets change at a future point in time, the valuation allowance will be adjusted accordingly. In addition to deferred tax assets carried on our balance sheet, we also had net federal and state research and development credit carryforwards available at December 31, 2015 of $5.5 million and $0.1 million. These credits were not recorded as tax assets as they relate to excess stock compensation deductions that may not be recorded as tax assets under generally accepted accounting principles until the amounts have been utilized to reduce our tax liability. To the extent that these assets are used to reduce future taxes, the benefit will be recorded as a reduction to additional paid-in capital. The aforementioned $0.4 million equity adjustment to additional paid-in capital in the three month period ended March 31, 2016 was related to these deferred tax assets.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	3 Months Ended
	Mar. 31, 2016
Equity [Abstract]
Accumulated Other Comprehensive Loss	I) Accumulated Other Comprehensive Loss. December 31, Increase/ Reclassification March 31, 2015 Decrease Adjustments 2016 Unrealized losses on available for sale securities $ (137 ) $ 31 $ - $ (106 ) Unrealized gains on available for sale securities 40 (35 ) - 5 Net unrealized gains (losses) on available for sale securities (97 ) (4 ) - (101 ) Income tax benefit (expense) on other comprehensive loss 33 1 - 34 Total accumulated other comprehensive loss, net of taxes $ (64 ) $ (3 ) $ - $ (67 )

Accounting Policies (Policies)

Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2016
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation. The accompanying unaudited consolidated balance sheets, statements of income and comprehensive income, and statements of cash flows reflect all adjustments (consisting only of normal recurring items) which are, in the opinion of management, necessary for a fair presentation of financial position at March 31, 2016, and of operations and cash flows for the interim periods ended March 31, 2016 and 2015. The results of operations for the interim period ended March 31, 2016 are not necessarily indicative of the results to be expected for the year.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2016
Fair Value Disclosures [Abstract]
Schedule of assets measured at fair value on a recurring basis	Fair Value Measurement at March 31, 2016 Using: Quoted Prices in Significant Other Significant (Level 1) (Level 2) (Level 3) Corporate debt securities $ 869 $ - $ - Money market funds (included in cash and cash equivalents) 43,095 Total $ 43,964 $ - $ - Fair Value Measurement at December 31, 2015 Using: Quoted Prices in Significant Other Significant (Level 1) (Level 2) (Level 3) Corporate debt securities $ 869 $ - $ - Money market funds (included in cash and cash equivalents) 43,027 Total $ 43,896 $ - $ -

Computation of Earnings per S17

Computation of Earnings per Share (Tables)	3 Months Ended
	Mar. 31, 2016
Earnings Per Share [Abstract]
Schedule of net income per share	Three Months Ended March 31, 2016 2015 Net income $ 635 $ 272 Weighted average common shares outstanding 22,993 22,866 Additional dilutive common stock equivalents 12 21 Diluted shares outstanding 23,005 22,887 Net income per share – basic $ 0.03 $ 0.01 Net income per share – diluted $ 0.03 $ 0.01

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	3 Months Ended
	Mar. 31, 2016
Disclosure Of Compensation Related Costs, Share-Based Payments [Abstract]
Schedule of stock-based employee compensation expense included in unaudited consolidated statements of comprehensive income	Three Months Ended March 31, 2016 2015 Cost of services $ - $ 1 Research and development 1 2 Selling and marketing - - General and administrative operations 7 18 Stock-based compensation expense $ 8 $ 21

Business Segments (Tables)

Business Segments (Tables)	3 Months Ended
	Mar. 31, 2016
Segment Reporting [Abstract]
Schedule of revenues generated from geographic regions	Three Months Ended March 31, 2016 2015 United States $ 3,740 $ 2,488 Brazil 304 726 Rest of world 790 909 $ 4,834 $ 4,123
Schedule of revenue by product group	Three Months Ended March 31, 2016 2015 Biometrics $ 3,285 $ 3,849 Imaging 1,476 173 DSL royalties 73 101 $ 4,834 $ 4,123

Accumulated Other Comprehensi20

Accumulated Other Comprehensive Loss (Tables)	3 Months Ended
	Mar. 31, 2016
Equity [Abstract]
Schedule of components of accumulated other comprehensive loss and activity	December 31, Increase/ Reclassification March 31, 2015 Decrease Adjustments 2016 Unrealized losses on available for sale securities $ (137 ) $ 31 $ - $ (106 ) Unrealized gains on available for sale securities 40 (35 ) - 5 Net unrealized gains (losses) on available for sale securities (97 ) (4 ) - (101 ) Income tax benefit (expense) on other comprehensive loss 33 1 - 34 Total accumulated other comprehensive loss, net of taxes $ (64 ) $ (3 ) $ - $ (67 )

Fair Value Measurements - Asset

Fair Value Measurements - Assets measured at fair value on a recurring basis (Details) - Fair value on recurring basis - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Fair Value Measurement, Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value	$ 43,964	$ 43,896
Fair Value Measurement, Quoted Prices in Active Markets for Identical Assets (Level 1) | Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Corporate debt securities	869	869
Fair Value Measurement, Quoted Prices in Active Markets for Identical Assets (Level 1) | Money market funds (included in cash and cash equivalents)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market funds (included in cash and cash equivalents)	$ 43,095	$ 43,027
Fair Value Measurement, Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value
Fair Value Measurement, Significant Other Observable Inputs (Level 2) | Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Corporate debt securities
Fair Value Measurement, Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets measured at fair value
Fair Value Measurement, Significant Unobservable Inputs (Level 3) | Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Corporate debt securities

Fair Value Measurements (Detail

Fair Value Measurements (Detail Textuals) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015	Mar. 31, 2015	Dec. 31, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents, primarily include money market funds	$ 52,650	$ 51,232	$ 44,685	$ 43,985
Fair value on recurring basis | Corporate debt securities | Fair Value Measurement, Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale investments	869	869
Fair value on recurring basis | Money market funds (included in cash and cash equivalents) | Fair Value Measurement, Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents, primarily include money market funds	$ 43,100	$ 43,000

Computation of Earnings per S23

Computation of Earnings per Share - Summary of net income per share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Earnings Per Share [Abstract]
Net income	$ 635	$ 272
Shares outstanding:
Weighted average common shares outstanding (in shares)	22,993	22,866
Additional dilutive common stock equivalents (in shares)	12	21
Diluted shares outstanding (in shares)	23,005	22,887
Net income per share - basic (in dollars per share)	$ 0.03	$ 0.01
Net income per share - diluted (in dollars per share)	$ 0.03	$ 0.01

Computation of Earnings per S24

Computation of Earnings per Share (Detail Textuals) - shares	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive common stock share purchase (in shares)	64,034	54,034

Stock-Based Compensation - Summ

Stock-Based Compensation - Summary of stock-based employee compensation expenses (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	$ 8	$ 21
Cost of services
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense		1
Research and development
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	$ 1	$ 2
Selling and marketing
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense
General and administrative operations
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	$ 7	$ 18

Stock-Based Compensation (Detai

Stock-Based Compensation (Detail Textuals) - Unrestricted Stock Grants - 2001 Nonqualified Stock Plan - Directors, officers and employees - USD ($)	1 Months Ended				3 Months Ended	12 Months Ended
	Mar. 28, 2016	Jan. 31, 2016	Jul. 31, 2015	Mar. 31, 2015	Mar. 31, 2016	Dec. 31, 2015
2015 Grant
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares granted (in shares)				152,000
Stock-based compensation expense						$ 682,000
Number of shares issued (in shares)		57,151	58,862
Number of common stock shares surrendered by employees withholding taxes		18,849	17,138
Common stock value surrendered by employees withholding taxes		$ 61,000	$ 69,000
2016 Grant
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares granted (in shares)	152,000
Stock-based compensation expense					$ 558,000
Stock based compensation expense charged					8,000
Remaining stock based compensation expense					$ 550,000

Business Segments - Revenues ge

Business Segments - Revenues generated following geographic regions (Details ) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Segment Reporting Information [Line Items]
Revenue	$ 4,834	$ 4,123
Operating Segments | United States
Segment Reporting Information [Line Items]
Revenue	3,740	2,488
Operating Segments | Brazil
Segment Reporting Information [Line Items]
Revenue	304	726
Operating Segments | Rest of World
Segment Reporting Information [Line Items]
Revenue	$ 790	$ 909

Business Segments - Summary of

Business Segments - Summary of revenue by product group (Details 1) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Segment Reporting Information [Line Items]
Revenue	$ 4,834	$ 4,123
Operating Segments | Biometrics
Segment Reporting Information [Line Items]
Revenue	3,285	3,849
Operating Segments | Imaging
Segment Reporting Information [Line Items]
Revenue	1,476	173
Operating Segments | DSL royalties
Segment Reporting Information [Line Items]
Revenue	$ 73	$ 101

Income Taxes (Detail Textuals)

Income Taxes (Detail Textuals) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Operating Loss Carryforwards [Line Items]
Income tax expense (benefit)	$ 312	$ 165
Income tax U.S. statutory rate	34.00%	34.00%
Tax benefits from stock-based awards	$ 400
Deferred tax assets	900
Equity adjustment to additional paid-in capital	$ 400
Federal | Research and development credit carryforwards
Operating Loss Carryforwards [Line Items]
Net federal and state research and development credit carryforwards			$ 5,500
State | Research and development credit carryforwards
Operating Loss Carryforwards [Line Items]
Net federal and state research and development credit carryforwards			$ 100

Accumulated Other Comprehensi30

Accumulated Other Comprehensive Loss - Components of accumulated other comprehensive loss and activity (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2016USD ($)
Accumulated Other Comprehensive Income Loss [Roll Forward]
Beginning balance Net unrealized gains (losses) on available for sale securities	$ (97)
Beginning balance Income tax benefit (expense) on other comprehensive loss	33
Beginning balance Total accumulated other comprehensive loss, net of taxes	(64)
Increase/Decrease Net unrealized gains (losses) on available for sale securities	(4)
Increase/Decrease Income tax benefit (expense) on other comprehensive loss	1
Increase/Decrease Total accumulated other comprehensive loss, net of taxes	$ (3)
Reclassification Adjustments Net unrealized gains (losses) on available for sale securities
Reclassification Adjustments Income tax benefit (expense) on other comprehensive loss
Reclassification Adjustments Total accumulated other comprehensive loss, net of taxes
Ending balance Net unrealized gains (losses) on available for sale securities	$ (101)
Ending balance Income tax benefit (expense) on other comprehensive loss	34
Ending balance Total accumulated other comprehensive loss, net of taxes	(67)
Unrealized losses on available for sale securities
Accumulated Other Comprehensive Income Loss [Roll Forward]
Beginning balance Net unrealized gains (losses) on available for sale securities	(137)
Increase/Decrease Net unrealized gains (losses) on available for sale securities	$ 31
Reclassification Adjustments Net unrealized gains (losses) on available for sale securities
Ending balance Net unrealized gains (losses) on available for sale securities	$ (106)
Unrealized gains on available for sale securities
Accumulated Other Comprehensive Income Loss [Roll Forward]
Beginning balance Net unrealized gains (losses) on available for sale securities	40
Increase/Decrease Net unrealized gains (losses) on available for sale securities	$ (35)
Reclassification Adjustments Net unrealized gains (losses) on available for sale securities
Ending balance Net unrealized gains (losses) on available for sale securities	$ 5