Document_and_Entity_Informatio
Document and Entity Information | 9 Months Ended | |
Sep. 30, 2013 | Oct. 31, 2013 | |
Document and Entity Information | ' | ' |
Entity Registrant Name | 'CALLIDUS SOFTWARE INC | ' |
Entity Central Index Key | '0001035748 | ' |
Document Type | '10-Q | ' |
Document Period End Date | 30-Sep-13 | ' |
Amendment Flag | 'false | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Current Reporting Status | 'Yes | ' |
Entity Filer Category | 'Accelerated Filer | ' |
Entity Common Stock, Shares Outstanding | ' | 40,378,221 |
Document Fiscal Year Focus | '2013 | ' |
Document Fiscal Period Focus | 'Q3 | ' |
CONDENSED_CONSOLIDATED_BALANCE
CONDENSED CONSOLIDATED BALANCE SHEETS (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Current assets: | ' | ' |
Cash and cash equivalents | $25,192 | $16,400 |
Short-term investments | 8,886 | 12,771 |
Accounts receivable, net of allowances of $721 and $485 at September 30, 2013 and December 31, 2012, respectively | 23,304 | 22,567 |
Deferred income taxes | 40 | 40 |
Prepaid and other current assets | 7,761 | 6,718 |
Total current assets | 65,183 | 58,496 |
Property and equipment, net | 12,381 | 10,580 |
Goodwill | 31,207 | 31,207 |
Intangible assets, net | 18,083 | 21,196 |
Deferred income taxes, noncurrent | 392 | 392 |
Deposits and other assets | 3,243 | 2,872 |
Total assets | 130,489 | 124,743 |
Current liabilities: | ' | ' |
Accounts payable | 1,415 | 4,705 |
Accrued payroll and related expenses | 5,868 | 5,854 |
Accrued expenses | 6,635 | 8,164 |
Deferred income taxes | 944 | 944 |
Deferred revenue | 42,054 | 35,483 |
Capital lease obligations | 1,232 | 921 |
Total current liabilities | 58,148 | 56,071 |
Deferred revenue, noncurrent | 7,592 | 3,702 |
Deferred income taxes, noncurrent | 345 | 160 |
Other liabilities | 1,908 | 2,159 |
Capital lease obligations, noncurrent | 1,460 | 8 |
Convertible notes | 59,215 | 59,215 |
Total liabilities | 128,668 | 121,315 |
Commitments and contingencies (Note 8) | ' | ' |
Stockholders’ equity: | ' | ' |
Preferred stock, $0.001 par value; 5,000 shares authorized; no shares issued or outstanding | ' | ' |
Common stock, $0.001 par value; 100,000 shares authorized; 41,362 and 38,538 shares issued and 39,023 and 36,199 shares outstanding at September 30, 2013 and December 31, 2012, respectively | 39 | 34 |
Additional paid-in capital | 268,228 | 255,331 |
Treasury stock; 2,339 shares at September 30, 2013 and December 31, 2012 | -14,430 | -14,430 |
Accumulated other comprehensive income | 161 | 239 |
Accumulated deficit | -252,177 | -237,746 |
Total stockholders’ equity | 1,821 | 3,428 |
Total liabilities and stockholders’ equity | $130,489 | $124,743 |
CONDENSED_CONSOLIDATED_BALANCE1
CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, except Per Share data, unless otherwise specified | ||
Statement of Financial Position [Abstract] | ' | ' |
Accounts receivable, allowances (in dollars) | $721 | $485 |
Preferred stock, par value (in dollars per share) | $0.00 | $0.00 |
Preferred stock, shares authorized | 5,000 | 5,000 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Common stock, par value (in dollars per share) | $0.00 | $0.00 |
Common stock, shares authorized | 100,000 | 100,000 |
Common stock, shares issued | 41,362 | 38,538 |
Common stock, shares outstanding | 39,023 | 36,199 |
Treasury stock, shares | 2,339 | 2,339 |
CONDENSED_CONSOLIDATED_STATEME
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Revenues: | ' | ' | ' | ' |
Recurring | $21,119 | $17,533 | $60,359 | $52,446 |
Services and other | 9,559 | 6,392 | 21,791 | 17,273 |
Total revenues | 30,678 | 23,925 | 82,150 | 69,719 |
Cost of revenues: | ' | ' | ' | ' |
Recurring | 7,303 | 6,989 | 21,687 | 22,434 |
Services and other | 4,475 | 5,078 | 14,436 | 14,266 |
Total cost of revenues | 11,778 | 12,067 | 36,123 | 36,700 |
Gross profit | 18,900 | 11,858 | 46,027 | 33,019 |
Operating expenses: | ' | ' | ' | ' |
Sales and marketing | 8,981 | 8,322 | 24,516 | 23,544 |
Research and development | 4,146 | 3,947 | 12,984 | 12,037 |
General and administrative | 5,757 | 4,785 | 16,889 | 14,639 |
Acquisition-related contingent consideration | 0 | 50 | 0 | -1,787 |
Restructuring | 141 | -53 | 1,699 | 561 |
Total operating expenses | 19,025 | 17,051 | 56,088 | 48,994 |
Operating loss | -125 | -5,193 | -10,061 | -15,975 |
Interest income and other income (expense), net | 29 | 139 | -92 | 134 |
Interest expense | -860 | -860 | -2,578 | -2,594 |
Loss before provision for income taxes | -956 | -5,914 | -12,731 | -18,435 |
Provision for income taxes | 457 | 444 | 1,700 | 213 |
Net loss | -1,413 | -6,358 | -14,431 | -18,648 |
Net loss per share - basic and diluted | ' | ' | ' | ' |
Net loss per share (in dollars per share) | ($0.04) | ($0.18) | ($0.38) | ($0.53) |
Shares used in basic and diluted per share computation | 38,648 | 35,853 | 37,873 | 35,070 |
Comprehensive loss | ' | ' | ' | ' |
Net Loss | -1,413 | -6,358 | -14,431 | -18,648 |
Unrealized gains (loss) on available-for-sale securities | 5 | 22 | -6 | 35 |
Foreign currency translation adjustments | -64 | 53 | 84 | 58 |
Comprehensive loss | ($1,472) | ($6,283) | ($14,353) | ($18,555) |
CONDENSED_CONSOLIDATED_STATEME1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Cash flows from operating activities: | ' | ' |
Net loss | ($14,431) | ($18,648) |
Adjustments to reconcile net loss to net cash (used in) provided by operating activities: | ' | ' |
Depreciation expense | 3,278 | 2,184 |
Amortization of intangible assets | 3,621 | 3,818 |
Provision for doubtful accounts and service remediation reserves | 846 | 188 |
Stock-based compensation | 8,345 | 10,917 |
Release of valuation allowance | ' | -350 |
(Loss) gain on disposal of property and equipment | 2 | -6 |
Amortization of convertible notes issuance cost | 402 | 402 |
Net amortization on investments | 63 | 310 |
Acquisition-related contingent consideration | 0 | -1,787 |
Changes in operating assets and liabilities: | ' | ' |
Accounts receivable | -1,583 | -7,627 |
Prepaid and other current assets | -1,043 | -1,809 |
Other noncurrent assets | -773 | 322 |
Accounts payable | -3,250 | -129 |
Accrued expenses | 1,517 | 741 |
Accrued payroll and related expenses | 462 | -267 |
Accrued restructuring | -476 | 37 |
Deferred revenue | 10,461 | 1,635 |
Deferred income taxes | 185 | 111 |
Net cash provided by (used in) operating activities | 7,626 | -9,958 |
Cash flows from investing activities: | ' | ' |
Purchases of investments | -5,634 | -16,536 |
Proceeds from maturities and sale of investments | 9,450 | 31,811 |
Purchases of property and equipment | -1,714 | -4,927 |
Proceeds from disposal of property and equipment | ' | 6 |
Purchases of intangible assets | -634 | -4,485 |
Acquisitions, net of cash acquired | ' | -7,721 |
Net cash provided by (used in) investing activities | 1,468 | -1,852 |
Cash flows from financing activities: | ' | ' |
Proceeds from issuance of common stock | 5,375 | 5,222 |
Repurchase of common stock from employees for payment of taxes on vesting of restricted stock units | -818 | -2,079 |
Payment of consideration related to acquisitions | -3,078 | -1,160 |
Repayment of debt assumed through acquisition | ' | -30 |
Payment of principal under capital leases | -1,709 | -887 |
Net cash (used in) provided by financing activities | -230 | 1,066 |
Effect of exchange rates on cash and cash equivalents | -72 | 58 |
Net increase (decrease) in cash and cash equivalents | 8,792 | -10,686 |
Cash and cash equivalents at beginning of period | 16,400 | 17,383 |
Cash and cash equivalents at end of period | 25,192 | 6,697 |
Supplemental disclosures of cash flow information: | ' | ' |
Cash paid for interest on convertible debt | 1,406 | 2,110 |
Cash paid for interest on capital leases | 56 | 83 |
Non-cash financing of fixed assets acquired under capital lease | $2,627 | ' |
Summary_of_Significant_Account
Summary of Significant Accounting Policies | 9 Months Ended |
Sep. 30, 2013 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' |
Summary of Significant Accounting Policies | ' |
Summary of Significant Accounting Policies | |
Basis of Presentation and Summary of Accounting Policies | |
All amounts included herein related to the condensed consolidated financial statements as of September 30, 2013 and the three and nine months ended September 30, 2013 and 2012 are unaudited and should be read in conjunction with the audited consolidated financial statements and the notes thereto included in Callidus Software Inc.'s ("the Company's") Annual Report on Form 10-K for the year ended December 31, 2012. Certain information and footnote disclosures normally included in annual financial statements prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP") have been condensed or omitted pursuant to the Securities and Exchange Commission ("SEC") rules and regulations regarding interim financial statements. | |
In the opinion of management, the accompanying condensed consolidated financial statements include all necessary adjustments for the fair presentation of the Company’s financial position, results of operations and cash flows. The results of operations for the interim periods presented are not necessarily indicative of the operating results to be expected for any subsequent interim period or for the full fiscal year ending December 31, 2013. | |
The condensed consolidated financial statements include the accounts of the Company. and its wholly-owned subsidiaries, which include wholly-owned subsidiaries in Australia, Canada, Germany, Hong Kong, India, New Zealand, Malaysia, Serbia, Singapore, and the United Kingdom. All intercompany transactions and balances have been eliminated upon consolidation. | |
The Company recognized an adjustment of $1.0 million which increased revenue in the three months ended September 30, 2013 as a result of a review of all outstanding deferred revenue projects, of which $0.2 million is included in SaaS revenues, and $0.8 million is included in services and other revenues. Based upon Management's review of qualitative and quantitative factors, Management believes the impact of the adjustment is not material to current or prior periods. | |
Use of Estimates | |
Preparation of the condensed consolidated financial statements in conformity with GAAP and the rules and regulations of the SEC requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements, the reported amounts of revenues and expenses during the reporting period and the accompanying notes. Estimates are used for, but not limited to, uncertain tax liabilities, allowances for doubtful accounts, the useful lives of fixed assets and intangible assets, goodwill and intangible asset impairments, stock-based compensation forfeiture rates, accrued liabilities, the allocation of the value of purchase consideration for business acquisitions, and other contingencies. These estimates and assumptions are based on management’s best estimates and judgment. Management evaluates such estimates and assumptions on an ongoing basis for continued reasonableness, using historical experience and other factors, including the current economic environment. Appropriate adjustments, if any, to the estimates used are made prospectively based upon such evaluation. Illiquid credit markets, volatile equity and foreign currency markets and declines in Information Technology spending by companies have combined to increase the uncertainty inherent in such estimates and assumptions. As future events and their effects cannot be determined with precision, actual results could differ materially from those estimates. Changes in those estimates, if any, resulting from continuing changes in the economic environment, will be reflected in the condensed consolidated financial statements in future periods. | |
Recent Accounting Pronouncements | |
In July 2013, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update 2013-11 ("ASU 2013-11"), Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists. ASU 2013-11 requires an entity to present unrecognized tax benefits as a reduction of a deferred tax asset, except in certain circumstances. ASU 2013-11 is effective for fiscal years and interim periods beginning after December 31, 2013, and early adoption is permitted. Based upon a preliminary review of the guidance, the Company does not anticipate that adoption will have a significant impact on the Company’s condensed consolidated financial statements. | |
In February 2013, FASB issued Accounting Standards Update 2013-02 ("ASU 2013-02"), Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income. ASU 2013-02 requires an entity to present either on the face of the statement where comprehensive income is presented or in the notes to the financial statements, significant amounts reclassified out of accumulated other comprehensive income by the respective line items of net income. ASU 2013-02 was effective for reporting periods beginning after December 15, 2012. The adoption of ASU 2013-02, which involves presentation and disclosures only, did not impact the Company’s condensed consolidated financial statements. |
Restructuring
Restructuring | 9 Months Ended | |||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||
Restructuring and Related Activities [Abstract] | ' | |||||||||||||||||||
Restructuring | ' | |||||||||||||||||||
Restructuring | ||||||||||||||||||||
Restructuring expenses primarily consist of costs associated with employee terminations and exit of excess facilities. These costs are recognized in accordance with the accounting guidance for exit activities and are presented as restructuring expenses in the Company's condensed consolidated statements of comprehensive loss. The Company incurred restructuring expense of $0.1 million and $(0.1) million during the three months ended September 30, 2013 and 2012, respectively, and $1.7 million and $0.6 million during the nine months ended September 30, 2013 and 2012, respectively. | ||||||||||||||||||||
The following table sets forth a summary of accrued restructuring expenses for the nine months ended September 30, 2013 and 2012, respectively (in thousands): | ||||||||||||||||||||
December 31, | Cash | Additions | Adjustments | September 30, 2013 | ||||||||||||||||
2012 | Payments | |||||||||||||||||||
Severance and termination-related costs | $ | 589 | $ | (2,146 | ) | $ | 1,707 | $ | (8 | ) | $ | 142 | ||||||||
Facilities-related costs | 289 | (30 | ) | — | 259 | |||||||||||||||
Total accrued restructuring expenses | $ | 878 | $ | (2,176 | ) | $ | 1,707 | $ | (8 | ) | $ | 401 | ||||||||
December 31, | Cash | Additions | Adjustments | 30-Sep-12 | ||||||||||||||||
2011 | Payments | |||||||||||||||||||
Severance and termination-related costs | $ | — | $ | (312 | ) | $ | 510 | $ | (53 | ) | $ | 145 | ||||||||
Facilities-related costs | 443 | (212 | ) | 209 | (105 | ) | 335 | |||||||||||||
Total accrued restructuring expenses | $ | 443 | $ | (524 | ) | $ | 719 | $ | (158 | ) | $ | 480 | ||||||||
Acquisitions
Acquisitions | 9 Months Ended |
Sep. 30, 2013 | |
Business Combinations [Abstract] | ' |
Acquisitions | ' |
Acquisitions | |
6FigureJobs.com | |
On May 4, 2012, the Company acquired 6FigureJobs.com (“6FigureJobs”), a premier job advertisement placement, recruitment media services and other career-related services provider to extend Hiring Cloud offerings. 6FigureJobs, a wholly-owned subsidiary of Workstream, Inc., a Canadian corporation, was purchased in exchange for $1.0 million in cash, which included an indemnity holdback of $0.3 million that was settled in May 2013. | |
LeadFormix, Inc. | |
On January 3, 2012, the Company acquired Leadformix, Inc., a leader in next-generation marketing automation and sales enablement, headquartered in the United States with operations in India, for $9.0 million in cash, which included an indemnity holdback of $1.5 million. In January 2013, $1.3 million of the indemnity holdback was paid and the remainder of the indemnity holdback was settled. | |
Webcom, Inc. | |
On October 3, 2011, the Company acquired Webcom, Inc. ("Webcom"), a U.S.-based company with operations in Serbia, a leader in Software-as-a-Service ("SaaS") based product configuration, pricing, quoting and proposal management. The total purchase price for Webcom was $10.8 million in cash, including a $1.6 million indemnity holdback and a $1.8 million earn-out condition. The full remaining balance of the earn-out condition of $1.8 million was paid in February 2013. During the third quarter of 2013, claims worth $0.1 million were applied to the indemnity holdback, and as of September 30, 2013, $0.8 million of the indemnity holdback remains accrued for potential indemnification items. | |
The Company’s business combinations described above did not have a material impact on the Company’s consolidated financial statements, and therefore pro forma disclosures have not been presented. |
Goodwill_and_Intangible_Assets
Goodwill and Intangible Assets | 9 Months Ended | |||||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | |||||||||||||||||||||
Goodwill and Intangible Assets | ' | |||||||||||||||||||||
Goodwill and Intangible Assets | ||||||||||||||||||||||
Management determined that no changes in the $31.2 million carrying amount of goodwill were necessary during the third quarter of 2013. Intangible assets consisted of the following as of September 30, 2013 and December 31, 2012 (in thousands): | ||||||||||||||||||||||
December 31, | December 31, | Additions | Amortization | September 30, | Weighted | |||||||||||||||||
2012 | 2012 | Expense | 2013 | Average | ||||||||||||||||||
Cost | Net | Net | Amortization | |||||||||||||||||||
Period | ||||||||||||||||||||||
(Years) | ||||||||||||||||||||||
Developed technology | $ | 15,179 | $ | 12,384 | $ | 495 | $ | (2,498 | ) | $ | 10,381 | 4.5 | ||||||||||
Customer relationships | 6,884 | 4,952 | — | (653 | ) | 4,299 | 5.1 | |||||||||||||||
Trade names | 1,202 | 1,040 | — | (167 | ) | 873 | 5.4 | |||||||||||||||
Patents and licenses | 1,525 | 2,744 | — | (263 | ) | 2,481 | 7.8 | |||||||||||||||
Other | 182 | 76 | 13 | (40 | ) | 49 | 0.8 | |||||||||||||||
Total | $ | 24,972 | $ | 21,196 | $ | 508 | $ | (3,621 | ) | $ | 18,083 | |||||||||||
Intangible assets include third-party software licenses used in the Company's products and acquired assets related to the Company’s acquisitions. | ||||||||||||||||||||||
Amortization expense related to intangible assets was $1.2 million and $1.3 million for the three months ended September 30, 2013 and 2012, respectively, and $3.6 million and $3.8 million for the nine months ended September 30, 2013 and 2012, respectively. Amortization expense related to intangible assets was included within cost of revenues for developed technology and patents and licenses, sales and marketing expense for customer relationships and trade names, and general and administrative expense for a favorable lease and other items. Intangible assets are amortized over their estimated useful lives of one to twelve years. Total future expected amortization is as follows (in thousands): | ||||||||||||||||||||||
Developed | Customer | Trade names | Patents | Other | ||||||||||||||||||
Technology | Relationships | and Licenses | ||||||||||||||||||||
Quarter Ending September 30: | ||||||||||||||||||||||
Remainder of 2013 | $ | 792 | $ | 220 | $ | 45 | $ | 89 | $ | 15 | ||||||||||||
2014 | 2,451 | 874 | 179 | 348 | 34 | |||||||||||||||||
2015 | 2,118 | 874 | 179 | 343 | — | |||||||||||||||||
2016 | 2,124 | 876 | 151 | 344 | — | |||||||||||||||||
2017 | 1,813 | 768 | 142 | 343 | — | |||||||||||||||||
2018 | 1,083 | 501 | 101 | 313 | — | |||||||||||||||||
2019 and beyond | — | 186 | 76 | 701 | — | |||||||||||||||||
Total expected amortization expense | $ | 10,381 | $ | 4,299 | $ | 873 | $ | 2,481 | $ | 49 | ||||||||||||
Financial_Instruments
Financial Instruments | 9 Months Ended | ||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||
Financial Instruments | ' | ||||||||||||||||||||
Financial Instruments | ' | ||||||||||||||||||||
Financial Instruments | |||||||||||||||||||||
As of September 30, 2013 and December 31, 2012, all investment debt securities are classified as available-for-sale and carried at estimated fair value, which is determined based on the inputs discussed below. | |||||||||||||||||||||
The Company classifies all highly liquid instruments with an original maturity on the date of purchase of three months or less as cash and cash equivalents. The Company classifies available-for-sale securities that have a maturity date longer than three months as short-term investments, including those investments with a maturity date of longer than one year that are highly liquid and which the Company does not intend to hold to maturity. | |||||||||||||||||||||
Realized gains and losses are calculated using the specific identification method. As of September 30, 2013 and December 31, 2012, the Company had no short-term investments in a material unrealized loss position. | |||||||||||||||||||||
The components of the Company’s cash, cash equivalents and investments classified as available-for-sale were as follows at September 30, 2013 and December 31, 2012 (in thousands): | |||||||||||||||||||||
30-Sep-13 | Amortized | Gross | Gross | Other | Estimated | ||||||||||||||||
Cost | Unrealized | Unrealized | Than Temporary | Fair value | |||||||||||||||||
Gains | Losses | Impairment | |||||||||||||||||||
Cash | $ | 19,913 | $ | — | $ | — | $ | — | $ | 19,913 | |||||||||||
Cash equivalents: | |||||||||||||||||||||
Money market funds | 5,279 | — | — | — | 5,279 | ||||||||||||||||
Total cash equivalents | 5,279 | — | — | — | 5,279 | ||||||||||||||||
Total cash and cash equivalents | $ | 25,192 | $ | — | $ | — | $ | — | $ | 25,192 | |||||||||||
Short-term investments: | |||||||||||||||||||||
U.S. government and agency obligations | 5,621 | 1 | — | — | 5,622 | ||||||||||||||||
Corporate notes and obligations | 3,260 | 4 | — | — | 3,264 | ||||||||||||||||
Total short-term investments | $ | 8,881 | $ | 5 | $ | — | $ | — | $ | 8,886 | |||||||||||
December 31, 2012 | Amortized | Gross | Gross | Other | Estimated | ||||||||||||||||
Cost | Unrealized | Unrealized | Than Temporary | Fair value | |||||||||||||||||
Gains | Losses | Impairment | |||||||||||||||||||
Cash | $ | 13,062 | $ | — | $ | — | $ | — | $ | 13,062 | |||||||||||
Cash equivalents: | |||||||||||||||||||||
Money market funds | 3,338 | — | — | — | 3,338 | ||||||||||||||||
Total cash equivalents | 3,338 | — | — | — | 3,338 | ||||||||||||||||
Total cash and cash equivalents | $ | 16,400 | $ | — | $ | — | $ | — | $ | 16,400 | |||||||||||
Short-term investments: | |||||||||||||||||||||
U.S. government and agency obligations | 6,700 | — | — | — | 6,700 | ||||||||||||||||
Corporate notes and obligations | 6,061 | 10 | — | — | 6,071 | ||||||||||||||||
Total short-term investments | $ | 12,761 | $ | 10 | $ | — | $ | — | $ | 12,771 | |||||||||||
The market value and the amortized cost of available-for-sale debt securities by contractual maturities as of September 30, 2013 were as follows (in thousands): | |||||||||||||||||||||
Contractual maturity | Amortized | Estimated | |||||||||||||||||||
Cost | Fair value | ||||||||||||||||||||
Less than 1 year | $ | 6,581 | $ | 6,586 | |||||||||||||||||
Between 1 and 2 years | 2,300 | 2,300 | |||||||||||||||||||
Total | $ | 8,881 | $ | 8,886 | |||||||||||||||||
At September 30, 2013, the Company had no unrealized losses related to U.S. government and agency securities. | |||||||||||||||||||||
The Company had no realized gains or losses on sales of its investments for the three and nine months ended September 30, 2013 and 2012. The Company had proceeds, net of purchases of investments, of $3.8 million and $15.3 million from maturities and sales of investments during the nine months ended September 30, 2013 and 2012, respectively. | |||||||||||||||||||||
The short-term investments in government obligations or highly rated credit securities generally have minor to moderate fluctuations in the fair values from period to period. The Company monitors credit ratings, downgrades and significant events surrounding these securities so as to assess if any of the impairments will be considered other-than-temporary. The Company did not identify any government obligations or highly rated credit securities held as of September 30, 2013 or as of December 31, 2012 for which the fair value declined significantly below amortized cost and were considered other-than-temporary impairments. |
Fair_Value_Measurements
Fair Value Measurements | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||
Fair Value Measurements | ' | ||||||||||||||||
Fair Value Measurements | |||||||||||||||||
The Company measures financial assets at fair value on an ongoing basis. The estimated fair value of the Company’s financial assets was determined using the following inputs at September 30, 2013 (in thousands): | |||||||||||||||||
Fair Value Measurements at Reporting Date Using | |||||||||||||||||
Quoted Prices in | Significant | Significant | |||||||||||||||
Active Markets for | Other Observable | Unobservable | |||||||||||||||
Identical Assets | Inputs | Inputs | |||||||||||||||
30-Sep-13 | Total | (Level 1) | (Level 2) | (Level 3) | |||||||||||||
Assets: | |||||||||||||||||
Money market funds (1) | $ | 5,279 | $ | 5,279 | $ | — | $ | — | |||||||||
U.S. government and agency obligations (2) | 5,622 | — | 5,622 | — | |||||||||||||
Corporate notes and obligations (2) | 3,264 | — | 3,264 | — | |||||||||||||
Total | $ | 14,165 | $ | 5,279 | $ | 8,886 | $ | — | |||||||||
__________________________________________________ | |||||||||||||||||
(1) Included in cash and cash equivalents on the condensed consolidated balance sheet. | |||||||||||||||||
(2) Included in short-term investments on the condensed consolidated balance sheet. | |||||||||||||||||
The table below presents the changes during the nine months ended September 30, 2013 related to balances measured using significant unobservable inputs (Level 3) (in thousands): | |||||||||||||||||
December 31, | Additions | Payments | 30-Sep-13 | ||||||||||||||
2012 | |||||||||||||||||
Liabilities: | |||||||||||||||||
Contingent consideration to Webcom | $ | 1,750 | $ | — | $ | (1,750 | ) | $ | — | ||||||||
Total | $ | 1,750 | $ | — | $ | (1,750 | ) | $ | — | ||||||||
During the first quarter of 2013, the Company paid earn-out consideration related to the acquisition of Webcom of $1.8 million. | |||||||||||||||||
The estimated fair value of the Company’s financial assets was determined using the following inputs at December 31, 2012 (in thousands): | |||||||||||||||||
Fair Value Measurements at Reporting Date Using | |||||||||||||||||
Quoted Prices in | Significant | Significant | |||||||||||||||
Active Markets for | Other Observable | Unobservable | |||||||||||||||
Identical Assets | Inputs | Inputs | |||||||||||||||
December 31, 2012 | Total | (Level 1) | (Level 2) | (Level 3) | |||||||||||||
Assets: | |||||||||||||||||
Money market funds (1) | $ | 3,338 | $ | 3,338 | $ | — | $ | — | |||||||||
U.S. Treasury bills (2) | 1,000 | 1,000 | — | — | |||||||||||||
Corporate notes and obligations (2) | 6,071 | — | 6,071 | — | |||||||||||||
U.S. government and agency obligations (2) | 5,700 | — | 5,700 | — | |||||||||||||
Total | $ | 16,109 | $ | 4,338 | $ | 11,771 | $ | — | |||||||||
Liabilities: | |||||||||||||||||
Contingent consideration (3) | $ | 1,750 | $ | — | $ | — | $ | 1,750 | |||||||||
Total | $ | 1,750 | $ | — | $ | — | $ | 1,750 | |||||||||
__________________________________________________ | |||||||||||||||||
(1) Included in cash and cash equivalents on the consolidated balance sheet. | |||||||||||||||||
(2) Included in short-term investments on the consolidated balance sheet. | |||||||||||||||||
(3) Included in accrued expenses on the consolidated balance sheet. | |||||||||||||||||
Valuation of Investments | |||||||||||||||||
Level 1 and Level 2 | |||||||||||||||||
The Company’s available-for-sale securities include money market funds, U.S. Treasury bills, commercial paper, corporate notes and obligations, and U.S. government and agency obligations. The Company values these securities using a pricing matrix from a pricing service provider, who may use quoted prices in active markets for identical assets (Level 1 inputs) or inputs other than quoted prices that are observable either directly or indirectly (Level 2 inputs). The Company classifies all of its available-for-sale securities, except for money market funds and U.S. Treasury bills, as having Level 2 inputs. The Company validates the estimated fair value of certain securities from a pricing service provider on a quarterly basis. The valuation techniques used to measure the fair value of the financial instruments having Level 2 inputs, all of which have counterparties with high credit ratings, were derived from the following: non-binding market consensus prices that are corroborated by observable market data, quoted market prices for similar instruments or pricing models, such as discounted cash flow techniques, with all significant inputs derived from or corroborated by observable market data. | |||||||||||||||||
Level 3 | |||||||||||||||||
Contingent consideration is defined as earn-out payments, which the Company may pay in connection with acquisitions. Contingent consideration liabilities are classified as Level 3 liabilities, as the Company uses unobservable inputs to value them, which is a probability-based income approach. Subsequent changes in the fair value of contingent consideration liabilities will be recorded within the acquisition-related contingent consideration in the Company’s condensed consolidated statements of comprehensive loss. As of September 30, 2013, the Company had no Level 3 liabilities. |
Convertible_Notes
Convertible Notes | 9 Months Ended |
Sep. 30, 2013 | |
Debt Disclosure [Abstract] | ' |
Convertible Notes | ' |
Convertible Notes | |
As of September 30, 2013, the Company had an aggregate principal amount of $59.2 million of the 4.75% Convertible Senior Notes (“Convertible Notes”) due in 2016 outstanding. Interest is payable on June 1 and December 1 of each year until the maturity date of June 1, 2016 unless the Convertible Notes are converted, redeemed or repurchased. The Convertible Notes are senior unsecured obligations of the Company. Based on market prices, the fair value of the Convertible Notes was $74.1 million and $58.0 million as of September 30, 2013 and December 31, 2012, respectively. | |
The Convertible Notes contain an optional redemption feature, which allows the Company, any time on or after June 6, 2014, to redeem all or part of the Convertible Notes for cash if the last reported sale price per share of common stock (as described below) has been at least 130% of the conversion price then in effect for at least 20 trading days during any 30 consecutive trading-day period ending within five trading days prior to the date on which the Company provides notice of redemption. The redemption price would be 100% of the principal amount of the notes being redeemed, plus accrued and unpaid interest. | |
Holders may convert the Convertible Notes into common stock of the Company at any time at a conversion rate of 129.6596 shares of common stock per $1,000 principal amount, or approximately $7.71 per share, subject to certain adjustments. If holders convert their notes in connection with a “make-whole fundamental change,” such holders are entitled, under certain circumstances, to an increase in the conversion rate for notes surrendered. Upon conversion, the Company will satisfy its conversion obligations by delivering shares of the Company’s common stock. | |
The Convertible Notes are recorded as long-term debt. The current balance of the debt issuance costs associated with the issuance of the Convertible Notes is recorded within prepaid and other current assets, and the non-current balance is recorded within deposits and other assets, and is being amortized to interest expense over the terms of the Convertible Notes. At September 30, 2013 and December 31, 2012, $0.5 million of the debt issuance costs are included in prepaid and other current assets, with the remaining amounts of $0.9 million and $1.3 million, respectively, recorded in deposits and other assets. | |
Please refer to Note 13 for recent activity regarding the Convertible Notes. |
Commitments_and_Contingencies
Commitments and Contingencies | 9 Months Ended |
Sep. 30, 2013 | |
Commitments and Contingencies Disclosure [Abstract] | ' |
Commitments and Contingencies | ' |
Commitments and Contingencies | |
Except as discussed below, there were no material changes in the Company's commitments under contractual obligations as disclosed in the Company’s audited consolidated financial statements for the year ended December 31, 2012. | |
On March 26, 2013, the Company entered into an agreement to procure application server software licenses and related maintenance services, payable quarterly over three years in the amount of $2.6 million and $4.3 million, respectively. | |
Warranties and Indemnification | |
The Company generally warrants that its software will perform to its standard documentation. Under the Company’s standard warranty, should a software product not perform as specified in the documentation within the warranty period, the Company will repair or replace the software or refund the license fee paid. To date, the Company has not incurred any incremental costs related to warranty obligations for its software. | |
The Company’s product license and on-demand agreements typically include a limited indemnification provision for claims by third parties relating to the Company’s intellectual property. To date, the Company has not incurred material costs, and has not accrued any costs related to such indemnification provisions. | |
Intellectual Property Litigation | |
On July 19, 2012, Versata Software, Inc. and Versata Development Group, Inc. (collectively, “Versata”) filed suit against Callidus in the United States District Court for the District of Delaware (“Delaware District Court”). The suit asserted that the Company infringes U.S. Patent Nos. 7,904,326, 7,908,304 and 7,958,024. The Company believes that the claims are without merit and intends to vigorously defend against these claims. On May 30, 2013, the Company answered the complaint and filed a counterclaim against Versata in the United States District Court for the District of Delaware. The Company's counterclaim asserted that Versata infringes U.S. Patent Nos. 6,269,355, 6,850,924 and 6,473,748. As of August 30, 2013, the Company filed petitions with the United States Patent and Trademark Office Patent Trial and Appeal Board (“PTAB”) for covered business method patent review of U.S. Patent Nos. 7,904,326, 7,908,304 and 7,958,024. The Company also filed a motion with the Delaware District Court on August 30, 2013 to stay the litigation pending the completion of the patent review proceedings with the PTAB. The Company is not in a position to assess whether any loss or adverse effect on the Company's financial condition is probable, or to estimate the range of potential loss, if any. | |
On August 31, 2012, the Company filed suit against Xactly Corporation (“Xactly”) in the United States District Court for the Central District of California. The suit alleges that Xactly infringes U.S. Patents 8,046,387 and 7,774,378. On October 24, 2012, the Company amended its complaint to add Xactly's President and Chief Executive Officer as a defendant and to add claims for trademark infringement, false advertising, false and misleading advertising, trade libel, defamation, intentional interference with prospective economic advantage, intentional interference with contractual relations, breach of contract and unfair competition, in addition to patent infringement. On January 28, 2013, the Company further amended its complaint to allege that Xactly also infringes U.S. Patent 6,473,748 and dismiss its intentional interference with contractual relations claim. On March 14, 2013, the case was transferred to the United States District Court in the Northern District of California. On May 31, 2013, the Company and Xactly entered into a stipulated dismissal of the Company's trademark infringement claim whereby Xactly agreed that it will not use the Company's trademarks-in-suit in certain of Xactly's marketing and advertising activities going forward. The case is currently scheduled for trial in October 2014. Please refer to Note 13 for recent activity regarding this litigation. | |
On December 14, 2012, TQP Development, LLC filed suit against Callidus in the United States District Court for the Eastern District of Texas Marshall Division. The suit asserts that Callidus infringes U.S. Patent No. 5,412,730. The Company believes that the claim is without merit and intends to vigorously defend against the claim. The case is currently scheduled for trial in August 2014. As of October 11, 2013, the Company filed a petition with the PTAB for covered business method patent review of U.S. Patent No. 5,412,730. The Company is not in a position to assess whether any loss or adverse effect on the Company's financial condition is probable, or to estimate the range of potential loss, if any. | |
Other matters | |
In addition to the above litigation matters, the Company is from time to time a party to other various litigation and customer disputes incidental to the conduct of its business. At the present time, the Company believes that none of these matters are likely to have a material adverse effect on the Company’s future financial results. | |
The Company records a liability when it is both probable that a liability has been incurred and the amount of the loss can be reasonably estimated. The Company reviews the need for any such liability on a quarterly basis and records any necessary adjustments to reflect the effect of ongoing negotiations, contract disputes, settlements, rulings, advice of legal counsel, and other information and events pertaining to a particular case in the period they become known. At September 30, 2013, the Company had not recorded any such liabilities in accordance with accounting for contingencies. However, litigation is subject to inherent uncertainties and the Company's view on these matters may change in the future. |
Segment_Geographic_and_Custome
Segment, Geographic and Customer Information | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Segment Reporting [Abstract] | ' | |||||||||||||||
Segment, Geographic and Customer Information | ' | |||||||||||||||
Segment, Geographic and Customer Information | ||||||||||||||||
The accounting principles guiding disclosures about segments of an enterprise and related information establishes standards for the reporting by business enterprises of information about operating segments, products and services, geographic areas, and major customers. The method of determining which information is reported is based on the way that management organizes the operating segments within the Company for making operational decisions and assessments of financial performance. The Company’s chief operating decision maker is considered to be the Company’s chief executive officer ("CEO"). The CEO reviews financial information presented on a consolidated basis for purposes of making operating decisions and assessing financial performance. By this definition, the Company operates in one business segment, which is the development, marketing and sale of sales and marketing effectiveness cloud software and related services. | ||||||||||||||||
The following table summarizes revenues for the three and nine months ended September 30, 2013 and 2012 by geographic areas (in thousands): | ||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
United States | $ | 22,052 | $ | 18,301 | $ | 62,616 | $ | 54,808 | ||||||||
EMEA | 3,050 | 2,484 | 9,227 | 7,919 | ||||||||||||
Asia Pacific | 3,273 | 1,650 | 5,783 | 4,038 | ||||||||||||
Other | 2,303 | 1,490 | 4,524 | 2,954 | ||||||||||||
$ | 30,678 | $ | 23,925 | $ | 82,150 | $ | 69,719 | |||||||||
Substantially all of the Company’s long-lived assets are located in the United States. Long-lived assets located outside the United States are not significant. | ||||||||||||||||
During the three and nine months ended September 30, 2013 and 2012, no customer accounted for more than 10% of total revenues. |
Net_Loss_Per_Share
Net Loss Per Share | 9 Months Ended | |||||||||||
Sep. 30, 2013 | ||||||||||||
Earnings Per Share [Abstract] | ' | |||||||||||
Net Loss Per Share | ' | |||||||||||
Net Loss Per Share | ||||||||||||
Basic net loss per share is calculated by dividing net loss for the period by the weighted average common shares outstanding during the period. Diluted net loss per share is calculated by dividing the net loss for the period by the weighted average common shares outstanding, adjusted for all dilutive potential common shares, which includes shares issuable upon the conversion of the Convertible Notes, the exercise of outstanding common stock options, the release of restricted stock, and purchases of employee stock purchase plan ("ESPP") shares to the extent these shares are dilutive. For the three and nine months ended September 30, 2013 and 2012, the diluted net loss per share calculation was the same as the basic net loss per share calculation as all potential common shares were anti-dilutive. | ||||||||||||
Diluted net loss per share does not include the effect of the following potential weighted average common shares because to do so would be anti-dilutive for the periods presented (in thousands): | ||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||
Restricted stock | 1,967 | 3,441 | 2,071 | 3,701 | ||||||||
Stock options | 2,558 | 3,076 | 2,622 | 3,381 | ||||||||
ESPP | 19 | 32 | 6 | 11 | ||||||||
Convertible Notes | 7,680 | 7,680 | 7,680 | 7,680 | ||||||||
Total | 12,224 | 14,229 | 12,379 | 14,773 | ||||||||
The weighted average exercise price of stock options excluded for the three and nine months ended September 30, 2013 was $4.62 and $4.22, respectively. The weighted average exercise price of stock options excluded for the three and nine months ended September 30, 2012 was $3.34 and $3.71, respectively. | ||||||||||||
Holders may convert the Convertible Notes into common stock of the Company at any time at a conversion rate of 129.6596 shares of common stock per $1,000 principal amount, or approximately $7.71 per share, subject to certain adjustments. Please refer to Note 7 for details. |
Stockbased_Compensation
Stock-based Compensation | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | |||||||||||||||
Stock-based Compensation | ' | |||||||||||||||
Stock-based Compensation | ||||||||||||||||
Expense Summary | ||||||||||||||||
The table below sets forth a summary of stock-based compensation expense for the three and nine months ended September 30, 2013 and 2012 (in thousands): | ||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
Stock-based compensation: | ||||||||||||||||
Stock options | $ | 181 | $ | 143 | $ | 642 | $ | 713 | ||||||||
Performance-based restricted stock units | 463 | 210 | 984 | 387 | ||||||||||||
Restricted stock units | 1,750 | 2,849 | 6,263 | 9,281 | ||||||||||||
ESPP | 150 | 220 | 456 | 536 | ||||||||||||
Total stock-based compensation | $ | 2,544 | $ | 3,422 | $ | 8,345 | $ | 10,917 | ||||||||
As of September 30, 2013, there was $2.8 million, $1.6 million, $7.1 million and $0.5 million of total unrecognized compensation expense related to stock options, performance-based restricted stock units, restricted stock units and the ESPP shares, respectively. The expenses related to stock options, performance-based restricted stock units, restricted stock units and ESPP shares are expected to be recognized over a weighted average period of 3.5 years, 0.9 years, 1.6 years and 0.8 years, respectively. | ||||||||||||||||
The table below sets forth the functional classification of stock-based compensation expense for the three and nine months ended September 30, 2013 and 2012 (in thousands): | ||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
Stock-based compensation: | ||||||||||||||||
Cost of recurring revenues | $ | 234 | $ | 351 | $ | 612 | $ | 1,280 | ||||||||
Cost of services and other revenues | 218 | 573 | 860 | 1,623 | ||||||||||||
Sales and marketing | 769 | 997 | 1,924 | 2,937 | ||||||||||||
Research and development | 384 | 477 | 1,317 | 1,376 | ||||||||||||
General and administrative | 939 | 1,024 | 3,632 | 3,701 | ||||||||||||
Total stock-based compensation | $ | 2,544 | $ | 3,422 | $ | 8,345 | $ | 10,917 | ||||||||
Performance-based Restricted Stock Units | ||||||||||||||||
During the nine months ended September 30, 2013, the Company granted performance-based restricted stock units with vesting contingent on successful attainment of predetermined SaaS revenue growth, recurring revenue gross margin targets, and days sales outstanding ("DSO") targets. The DSO targets apply only to performance-based restricted stock units granted to the Chief Financial Officer and Chief Executive Officer. | ||||||||||||||||
During 2012, the Company granted as compensation restricted stock units that were performance-based restricted stock units. The pre-established goals were measured against annual recurring revenue and operating income. The annual recurring revenue target for 2012 was met. As a result, 50% of those awards vested during the first quarter of 2013, with the remainder to vest quarterly through the first quarter of 2014. The operating income target for 2012 was not met, and therefore in 2012 the shares related to this target were canceled and the associated expense was reversed when the Company determined the target was not met. | ||||||||||||||||
Determination of Fair Value | ||||||||||||||||
The fair value of each restricted stock unit, relating to both performance and non-performance awards, is estimated based on the market value of the Company’s stock on the date of grant. The fair value of the performance-based award assumes that performance goals will be achieved. If such goals are not met, no compensation cost is recognized and any previously recognized compensation cost is reversed. The fair value of each stock option is estimated on the date of grant using the Black-Scholes valuation model and the assumptions noted in the following table. | ||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
Stock Option Plans | ||||||||||||||||
Expected life (in years) | 6.0 to 6.1 | — | 5.0 to 6.1 | 5.0 to 6.0 | ||||||||||||
Risk-free interest rate | 1.69% to 1.93% | — | % | 1.41% to 1.93% | 0.72% to 1.33% | |||||||||||
Volatility | 61% to 62% | — | % | 61% to 63% | 60% to 65% | |||||||||||
Dividend yield | None | None | None | None | ||||||||||||
The fair value of each ESPP share is estimated on the enrollment date of the offering period using the Black-Scholes valuation model and the assumptions noted in the following table. | ||||||||||||||||
Nine Months Ended September 30, | ||||||||||||||||
2013 | 2012 | |||||||||||||||
Employee Stock Purchase Plan | ||||||||||||||||
Expected life (in years) | 0.50 to 1.00 | 0.50 to 1.00 | ||||||||||||||
Risk-free interest rate | 0.08% to 0.17% | 0.13% to 0.20% | ||||||||||||||
Volatility | 41% to 62% | 56% to 62% | ||||||||||||||
Dividend yield | None | None | ||||||||||||||
Related_Party_Transactions
Related Party Transactions | 9 Months Ended |
Sep. 30, 2013 | |
Related Party Transactions [Abstract] | ' |
Related-Party Transactions | ' |
Related-Party Transactions | |
In June 2013, in the normal course of business, the Company entered into agreements with Lithium Technologies, Inc. (“Lithium”). The Chief Financial Officer of Lithium is a member of the Company's Board of Directors. The Company purchased an annual subscription for Lithium's social media management solutions in the amount of $120,000. In the same period, Lithium entered into a two year hosting agreement with the Company in the amount of $113,000. During the third quarter of 2013, the Company paid the entire annual fee of $120,000 for the social media management solution, of which $32,000 was expensed and $88,000 remains in prepaid and other current assets as of September 30, 2013. During the third quarter of 2013 the Company recognized $26,000 in revenue under the$113,000 annual hosting agreement. In addition, during the third quarter of 2013 the Company entered into an agreement with Lithium for services in the amount of $109,000, of which $62,000 was recognized during the quarter. | |
Webcom, a wholly-owned subsidiary of the Company, engages the services of a third-party vendor to perform product modeling and maintenance of certain equipment. The third-party vendor is owned by a relative of Webcom’s senior management. For the three and nine months ended September 30, 2013, the Company paid $40,000 and $114,000, respectively, to this vendor. For the three and nine months ended September 30, 2012, the Company paid $53,000 and $101,000, respectively, to this vendor. |
Subsequent_Events_Notes
Subsequent Events (Notes) | 9 Months Ended |
Sep. 30, 2013 | |
Subsequent Events [Abstract] | ' |
Subsequent Events | ' |
Subsequent Events | |
On October 24, 2013, the Company entered into an agreement with a holder of the Company's Convertible Notes whereby the Company agreed to issue 1,251,215 shares of its common stock in exchange for $9.7 million aggregate principal amount of Convertible Notes consistent with the original conversion terms of the Convertible Notes plus a negotiated market-based cash premium and $0.2 million in accrued interest expense and the cash was paid upon the closing of the deal on October 25, 2013. | |
On November 7, 2013, the Company entered into an agreement with a holder of the Company's Convertible Notes whereby the Company agreed to issue 518,638 shares of its common stock in exchange for $4.0 million aggregate principal amount of Convertible Notes consistent with the original conversion terms of the Convertible Notes plus a negotiated market-based cash premium and $0.1 million in accrued interest expense and the cash was paid upon the closing of the deal on November 7, 2013. | |
On November 5, 2013, Callidus, Xactly and Xactly's President and Chief Executive Officer entered into a binding memorandum of understanding, pursuant to which the parties agreed to enter into a definitive settlement agreement, subject to court approval, that among other things, will include an agreement by Xactly to pay the Company $2.0 million, to be paid in four equal annual installments beginning in 2013. |
Summary_of_Significant_Account1
Summary of Significant Accounting Policies (Policies) | 9 Months Ended |
Sep. 30, 2013 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' |
Basis of Presentation and Summary of Accounting Policies | ' |
Basis of Presentation and Summary of Accounting Policies | |
All amounts included herein related to the condensed consolidated financial statements as of September 30, 2013 and the three and nine months ended September 30, 2013 and 2012 are unaudited and should be read in conjunction with the audited consolidated financial statements and the notes thereto included in Callidus Software Inc.'s ("the Company's") Annual Report on Form 10-K for the year ended December 31, 2012. Certain information and footnote disclosures normally included in annual financial statements prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP") have been condensed or omitted pursuant to the Securities and Exchange Commission ("SEC") rules and regulations regarding interim financial statements. | |
In the opinion of management, the accompanying condensed consolidated financial statements include all necessary adjustments for the fair presentation of the Company’s financial position, results of operations and cash flows. The results of operations for the interim periods presented are not necessarily indicative of the operating results to be expected for any subsequent interim period or for the full fiscal year ending December 31, 2013. | |
The condensed consolidated financial statements include the accounts of the Company. and its wholly-owned subsidiaries, which include wholly-owned subsidiaries in Australia, Canada, Germany, Hong Kong, India, New Zealand, Malaysia, Serbia, Singapore, and the United Kingdom. All intercompany transactions and balances have been eliminated upon consolidation. | |
The Company recognized an adjustment of $1.0 million which increased revenue in the three months ended September 30, 2013 as a result of a review of all outstanding deferred revenue projects, of which $0.2 million is included in SaaS revenues, and $0.8 million is included in services and other revenues. Based upon Management's review of qualitative and quantitative factors, Management believes the impact of the adjustment is not material to current or prior periods. | |
Use of Estimates | ' |
Use of Estimates | |
Preparation of the condensed consolidated financial statements in conformity with GAAP and the rules and regulations of the SEC requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements, the reported amounts of revenues and expenses during the reporting period and the accompanying notes. Estimates are used for, but not limited to, uncertain tax liabilities, allowances for doubtful accounts, the useful lives of fixed assets and intangible assets, goodwill and intangible asset impairments, stock-based compensation forfeiture rates, accrued liabilities, the allocation of the value of purchase consideration for business acquisitions, and other contingencies. These estimates and assumptions are based on management’s best estimates and judgment. Management evaluates such estimates and assumptions on an ongoing basis for continued reasonableness, using historical experience and other factors, including the current economic environment. Appropriate adjustments, if any, to the estimates used are made prospectively based upon such evaluation. Illiquid credit markets, volatile equity and foreign currency markets and declines in Information Technology spending by companies have combined to increase the uncertainty inherent in such estimates and assumptions. As future events and their effects cannot be determined with precision, actual results could differ materially from those estimates. Changes in those estimates, if any, resulting from continuing changes in the economic environment, will be reflected in the condensed consolidated financial statements in future periods. | |
Recently Adopted Accounting Pronouncements | ' |
Recent Accounting Pronouncements | |
In July 2013, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update 2013-11 ("ASU 2013-11"), Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists. ASU 2013-11 requires an entity to present unrecognized tax benefits as a reduction of a deferred tax asset, except in certain circumstances. ASU 2013-11 is effective for fiscal years and interim periods beginning after December 31, 2013, and early adoption is permitted. Based upon a preliminary review of the guidance, the Company does not anticipate that adoption will have a significant impact on the Company’s condensed consolidated financial statements. | |
In February 2013, FASB issued Accounting Standards Update 2013-02 ("ASU 2013-02"), Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income. ASU 2013-02 requires an entity to present either on the face of the statement where comprehensive income is presented or in the notes to the financial statements, significant amounts reclassified out of accumulated other comprehensive income by the respective line items of net income. ASU 2013-02 was effective for reporting periods beginning after December 15, 2012. The adoption of ASU 2013-02, which involves presentation and disclosures only, did not impact the Company’s condensed consolidated financial statements. |
Restructuring_Tables
Restructuring (Tables) | 9 Months Ended | |||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||
Restructuring and Related Activities [Abstract] | ' | |||||||||||||||||||
Summary of accrued restructuring expenses | ' | |||||||||||||||||||
The following table sets forth a summary of accrued restructuring expenses for the nine months ended September 30, 2013 and 2012, respectively (in thousands): | ||||||||||||||||||||
December 31, | Cash | Additions | Adjustments | September 30, 2013 | ||||||||||||||||
2012 | Payments | |||||||||||||||||||
Severance and termination-related costs | $ | 589 | $ | (2,146 | ) | $ | 1,707 | $ | (8 | ) | $ | 142 | ||||||||
Facilities-related costs | 289 | (30 | ) | — | 259 | |||||||||||||||
Total accrued restructuring expenses | $ | 878 | $ | (2,176 | ) | $ | 1,707 | $ | (8 | ) | $ | 401 | ||||||||
December 31, | Cash | Additions | Adjustments | 30-Sep-12 | ||||||||||||||||
2011 | Payments | |||||||||||||||||||
Severance and termination-related costs | $ | — | $ | (312 | ) | $ | 510 | $ | (53 | ) | $ | 145 | ||||||||
Facilities-related costs | 443 | (212 | ) | 209 | (105 | ) | 335 | |||||||||||||
Total accrued restructuring expenses | $ | 443 | $ | (524 | ) | $ | 719 | $ | (158 | ) | $ | 480 | ||||||||
Goodwill_and_Intangible_Assets1
Goodwill and Intangible Assets (Tables) | 9 Months Ended | |||||||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | |||||||||||||||||||||
Schedule of intangible assets | ' | |||||||||||||||||||||
Intangible assets consisted of the following as of September 30, 2013 and December 31, 2012 (in thousands): | ||||||||||||||||||||||
December 31, | December 31, | Additions | Amortization | September 30, | Weighted | |||||||||||||||||
2012 | 2012 | Expense | 2013 | Average | ||||||||||||||||||
Cost | Net | Net | Amortization | |||||||||||||||||||
Period | ||||||||||||||||||||||
(Years) | ||||||||||||||||||||||
Developed technology | $ | 15,179 | $ | 12,384 | $ | 495 | $ | (2,498 | ) | $ | 10,381 | 4.5 | ||||||||||
Customer relationships | 6,884 | 4,952 | — | (653 | ) | 4,299 | 5.1 | |||||||||||||||
Trade names | 1,202 | 1,040 | — | (167 | ) | 873 | 5.4 | |||||||||||||||
Patents and licenses | 1,525 | 2,744 | — | (263 | ) | 2,481 | 7.8 | |||||||||||||||
Other | 182 | 76 | 13 | (40 | ) | 49 | 0.8 | |||||||||||||||
Total | $ | 24,972 | $ | 21,196 | $ | 508 | $ | (3,621 | ) | $ | 18,083 | |||||||||||
Schedule of future expected amortization | ' | |||||||||||||||||||||
Total future expected amortization is as follows (in thousands): | ||||||||||||||||||||||
Developed | Customer | Trade names | Patents | Other | ||||||||||||||||||
Technology | Relationships | and Licenses | ||||||||||||||||||||
Quarter Ending September 30: | ||||||||||||||||||||||
Remainder of 2013 | $ | 792 | $ | 220 | $ | 45 | $ | 89 | $ | 15 | ||||||||||||
2014 | 2,451 | 874 | 179 | 348 | 34 | |||||||||||||||||
2015 | 2,118 | 874 | 179 | 343 | — | |||||||||||||||||
2016 | 2,124 | 876 | 151 | 344 | — | |||||||||||||||||
2017 | 1,813 | 768 | 142 | 343 | — | |||||||||||||||||
2018 | 1,083 | 501 | 101 | 313 | — | |||||||||||||||||
2019 and beyond | — | 186 | 76 | 701 | — | |||||||||||||||||
Total expected amortization expense | $ | 10,381 | $ | 4,299 | $ | 873 | $ | 2,481 | $ | 49 | ||||||||||||
Financial_Instruments_Tables
Financial Instruments (Tables) | 9 Months Ended | ||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||
Financial Instruments | ' | ||||||||||||||||||||
Summary of cash, cash equivalents and investments classified as available-for-sale | ' | ||||||||||||||||||||
The components of the Company’s cash, cash equivalents and investments classified as available-for-sale were as follows at September 30, 2013 and December 31, 2012 (in thousands): | |||||||||||||||||||||
30-Sep-13 | Amortized | Gross | Gross | Other | Estimated | ||||||||||||||||
Cost | Unrealized | Unrealized | Than Temporary | Fair value | |||||||||||||||||
Gains | Losses | Impairment | |||||||||||||||||||
Cash | $ | 19,913 | $ | — | $ | — | $ | — | $ | 19,913 | |||||||||||
Cash equivalents: | |||||||||||||||||||||
Money market funds | 5,279 | — | — | — | 5,279 | ||||||||||||||||
Total cash equivalents | 5,279 | — | — | — | 5,279 | ||||||||||||||||
Total cash and cash equivalents | $ | 25,192 | $ | — | $ | — | $ | — | $ | 25,192 | |||||||||||
Short-term investments: | |||||||||||||||||||||
U.S. government and agency obligations | 5,621 | 1 | — | — | 5,622 | ||||||||||||||||
Corporate notes and obligations | 3,260 | 4 | — | — | 3,264 | ||||||||||||||||
Total short-term investments | $ | 8,881 | $ | 5 | $ | — | $ | — | $ | 8,886 | |||||||||||
December 31, 2012 | Amortized | Gross | Gross | Other | Estimated | ||||||||||||||||
Cost | Unrealized | Unrealized | Than Temporary | Fair value | |||||||||||||||||
Gains | Losses | Impairment | |||||||||||||||||||
Cash | $ | 13,062 | $ | — | $ | — | $ | — | $ | 13,062 | |||||||||||
Cash equivalents: | |||||||||||||||||||||
Money market funds | 3,338 | — | — | — | 3,338 | ||||||||||||||||
Total cash equivalents | 3,338 | — | — | — | 3,338 | ||||||||||||||||
Total cash and cash equivalents | $ | 16,400 | $ | — | $ | — | $ | — | $ | 16,400 | |||||||||||
Short-term investments: | |||||||||||||||||||||
U.S. government and agency obligations | 6,700 | — | — | — | 6,700 | ||||||||||||||||
Corporate notes and obligations | 6,061 | 10 | — | — | 6,071 | ||||||||||||||||
Total short-term investments | $ | 12,761 | $ | 10 | $ | — | $ | — | $ | 12,771 | |||||||||||
Schedule of contractual maturities of available-for-sale debt securities | ' | ||||||||||||||||||||
The market value and the amortized cost of available-for-sale debt securities by contractual maturities as of September 30, 2013 were as follows (in thousands): | |||||||||||||||||||||
Contractual maturity | Amortized | Estimated | |||||||||||||||||||
Cost | Fair value | ||||||||||||||||||||
Less than 1 year | $ | 6,581 | $ | 6,586 | |||||||||||||||||
Between 1 and 2 years | 2,300 | 2,300 | |||||||||||||||||||
Total | $ | 8,881 | $ | 8,886 | |||||||||||||||||
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | ' | ||||||||||||||||
The estimated fair value of the Company’s financial assets was determined using the following inputs at December 31, 2012 (in thousands): | |||||||||||||||||
Fair Value Measurements at Reporting Date Using | |||||||||||||||||
Quoted Prices in | Significant | Significant | |||||||||||||||
Active Markets for | Other Observable | Unobservable | |||||||||||||||
Identical Assets | Inputs | Inputs | |||||||||||||||
December 31, 2012 | Total | (Level 1) | (Level 2) | (Level 3) | |||||||||||||
Assets: | |||||||||||||||||
Money market funds (1) | $ | 3,338 | $ | 3,338 | $ | — | $ | — | |||||||||
U.S. Treasury bills (2) | 1,000 | 1,000 | — | — | |||||||||||||
Corporate notes and obligations (2) | 6,071 | — | 6,071 | — | |||||||||||||
U.S. government and agency obligations (2) | 5,700 | — | 5,700 | — | |||||||||||||
Total | $ | 16,109 | $ | 4,338 | $ | 11,771 | $ | — | |||||||||
Liabilities: | |||||||||||||||||
Contingent consideration (3) | $ | 1,750 | $ | — | $ | — | $ | 1,750 | |||||||||
Total | $ | 1,750 | $ | — | $ | — | $ | 1,750 | |||||||||
__________________________________________________ | |||||||||||||||||
(1) Included in cash and cash equivalents on the consolidated balance sheet. | |||||||||||||||||
(2) Included in short-term investments on the consolidated balance sheet. | |||||||||||||||||
(3) Included in accrued expenses on the consolidated balance sheet. | |||||||||||||||||
The estimated fair value of the Company’s financial assets was determined using the following inputs at September 30, 2013 (in thousands): | |||||||||||||||||
Fair Value Measurements at Reporting Date Using | |||||||||||||||||
Quoted Prices in | Significant | Significant | |||||||||||||||
Active Markets for | Other Observable | Unobservable | |||||||||||||||
Identical Assets | Inputs | Inputs | |||||||||||||||
30-Sep-13 | Total | (Level 1) | (Level 2) | (Level 3) | |||||||||||||
Assets: | |||||||||||||||||
Money market funds (1) | $ | 5,279 | $ | 5,279 | $ | — | $ | — | |||||||||
U.S. government and agency obligations (2) | 5,622 | — | 5,622 | — | |||||||||||||
Corporate notes and obligations (2) | 3,264 | — | 3,264 | — | |||||||||||||
Total | $ | 14,165 | $ | 5,279 | $ | 8,886 | $ | — | |||||||||
__________________________________________________ | |||||||||||||||||
(1) Included in cash and cash equivalents on the condensed consolidated balance sheet. | |||||||||||||||||
(2) Included in short-term investments on the condensed consolidated balance sheet. | |||||||||||||||||
Schedule of changes during the period related to balances measured using significant unobservable inputs (Level 3) | ' | ||||||||||||||||
The table below presents the changes during the nine months ended September 30, 2013 related to balances measured using significant unobservable inputs (Level 3) (in thousands): | |||||||||||||||||
December 31, | Additions | Payments | 30-Sep-13 | ||||||||||||||
2012 | |||||||||||||||||
Liabilities: | |||||||||||||||||
Contingent consideration to Webcom | $ | 1,750 | $ | — | $ | (1,750 | ) | $ | — | ||||||||
Total | $ | 1,750 | $ | — | $ | (1,750 | ) | $ | — | ||||||||
Segment_Geographic_and_Custome1
Segment, Geographic and Customer Information (Tables) | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Segment Reporting [Abstract] | ' | |||||||||||||||
Summary of revenues by geographic areas | ' | |||||||||||||||
The following table summarizes revenues for the three and nine months ended September 30, 2013 and 2012 by geographic areas (in thousands): | ||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
United States | $ | 22,052 | $ | 18,301 | $ | 62,616 | $ | 54,808 | ||||||||
EMEA | 3,050 | 2,484 | 9,227 | 7,919 | ||||||||||||
Asia Pacific | 3,273 | 1,650 | 5,783 | 4,038 | ||||||||||||
Other | 2,303 | 1,490 | 4,524 | 2,954 | ||||||||||||
$ | 30,678 | $ | 23,925 | $ | 82,150 | $ | 69,719 | |||||||||
Net_Loss_Per_Share_Tables
Net Loss Per Share (Tables) | 9 Months Ended | |||||||||||
Sep. 30, 2013 | ||||||||||||
Earnings Per Share [Abstract] | ' | |||||||||||
Schedule of potential weighted average common shares excluded from computation of diluted net loss per share | ' | |||||||||||
Diluted net loss per share does not include the effect of the following potential weighted average common shares because to do so would be anti-dilutive for the periods presented (in thousands): | ||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||
Restricted stock | 1,967 | 3,441 | 2,071 | 3,701 | ||||||||
Stock options | 2,558 | 3,076 | 2,622 | 3,381 | ||||||||
ESPP | 19 | 32 | 6 | 11 | ||||||||
Convertible Notes | 7,680 | 7,680 | 7,680 | 7,680 | ||||||||
Total | 12,224 | 14,229 | 12,379 | 14,773 | ||||||||
Stockbased_Compensation_Tables
Stock-based Compensation (Tables) | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | |||||||||||||||
Summary of stock-based compensation expenses | ' | |||||||||||||||
The table below sets forth a summary of stock-based compensation expense for the three and nine months ended September 30, 2013 and 2012 (in thousands): | ||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
Stock-based compensation: | ||||||||||||||||
Stock options | $ | 181 | $ | 143 | $ | 642 | $ | 713 | ||||||||
Performance-based restricted stock units | 463 | 210 | 984 | 387 | ||||||||||||
Restricted stock units | 1,750 | 2,849 | 6,263 | 9,281 | ||||||||||||
ESPP | 150 | 220 | 456 | 536 | ||||||||||||
Total stock-based compensation | $ | 2,544 | $ | 3,422 | $ | 8,345 | $ | 10,917 | ||||||||
Schedule of functional classification of stock-based compensation expense | ' | |||||||||||||||
The table below sets forth the functional classification of stock-based compensation expense for the three and nine months ended September 30, 2013 and 2012 (in thousands): | ||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
Stock-based compensation: | ||||||||||||||||
Cost of recurring revenues | $ | 234 | $ | 351 | $ | 612 | $ | 1,280 | ||||||||
Cost of services and other revenues | 218 | 573 | 860 | 1,623 | ||||||||||||
Sales and marketing | 769 | 997 | 1,924 | 2,937 | ||||||||||||
Research and development | 384 | 477 | 1,317 | 1,376 | ||||||||||||
General and administrative | 939 | 1,024 | 3,632 | 3,701 | ||||||||||||
Total stock-based compensation | $ | 2,544 | $ | 3,422 | $ | 8,345 | $ | 10,917 | ||||||||
Schedule of valuation assumptions for determining the fair value of stock options and employee stock purchase plans | ' | |||||||||||||||
The fair value of each stock option is estimated on the date of grant using the Black-Scholes valuation model and the assumptions noted in the following table. | ||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||
Stock Option Plans | ||||||||||||||||
Expected life (in years) | 6.0 to 6.1 | — | 5.0 to 6.1 | 5.0 to 6.0 | ||||||||||||
Risk-free interest rate | 1.69% to 1.93% | — | % | 1.41% to 1.93% | 0.72% to 1.33% | |||||||||||
Volatility | 61% to 62% | — | % | 61% to 63% | 60% to 65% | |||||||||||
Dividend yield | None | None | None | None | ||||||||||||
The fair value of each ESPP share is estimated on the enrollment date of the offering period using the Black-Scholes valuation model and the assumptions noted in the following table. | ||||||||||||||||
Nine Months Ended September 30, | ||||||||||||||||
2013 | 2012 | |||||||||||||||
Employee Stock Purchase Plan | ||||||||||||||||
Expected life (in years) | 0.50 to 1.00 | 0.50 to 1.00 | ||||||||||||||
Risk-free interest rate | 0.08% to 0.17% | 0.13% to 0.20% | ||||||||||||||
Volatility | 41% to 62% | 56% to 62% | ||||||||||||||
Dividend yield | None | None | ||||||||||||||
Summary_of_Significant_Account2
Summary of Significant Accounting Policies Basis of Presentation (Details) (USD $) | 3 Months Ended |
In Millions, unless otherwise specified | Sep. 30, 2013 |
Deferred Revenue Arrangement [Line Items] | ' |
Adjustment to deferred revenue | ($1) |
SaaS Revenues [Member] | ' |
Deferred Revenue Arrangement [Line Items] | ' |
Adjustment to deferred revenue | -0.2 |
Services and Other Revenues [Member] | ' |
Deferred Revenue Arrangement [Line Items] | ' |
Adjustment to deferred revenue | ($0.80) |
Restructuring_Details
Restructuring (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Restructuring and Related Activities [Abstract] | ' | ' | ' | ' |
Restructuring expenses | $141 | ($53) | $1,699 | $561 |
Changes in restructuring reserve | ' | ' | ' | ' |
Balance at the beginning of the period | ' | ' | 878 | 443 |
Cash Payments | ' | ' | -2,176 | -524 |
Additions | ' | ' | 1,707 | 719 |
Adjustments | ' | ' | -8 | -158 |
Balance at the end of the period | 401 | 480 | 401 | 480 |
Severance and termination-related costs | ' | ' | ' | ' |
Changes in restructuring reserve | ' | ' | ' | ' |
Balance at the beginning of the period | ' | ' | 589 | 0 |
Cash Payments | ' | ' | -2,146 | -312 |
Additions | ' | ' | 1,707 | 510 |
Adjustments | ' | ' | -8 | -53 |
Balance at the end of the period | 142 | 145 | 142 | 145 |
Facilities related costs | ' | ' | ' | ' |
Changes in restructuring reserve | ' | ' | ' | ' |
Balance at the beginning of the period | ' | ' | 289 | 443 |
Cash Payments | ' | ' | -30 | -212 |
Additions | ' | ' | 0 | 209 |
Adjustments | ' | ' | ' | -105 |
Balance at the end of the period | $259 | $335 | $259 | $335 |
Acquisitions_Details
Acquisitions (Details) (USD $) | 1 Months Ended | 3 Months Ended | 1 Months Ended | 3 Months Ended | ||||
In Millions, unless otherwise specified | Jan. 31, 2013 | Jan. 03, 2012 | Sep. 30, 2013 | 4-May-12 | Feb. 28, 2013 | Sep. 30, 2013 | Mar. 31, 2013 | Oct. 03, 2011 |
Leadformix, Inc | Leadformix, Inc | 6FigureJobs.com, Inc. | 6FigureJobs.com, Inc. | Webcom | Webcom | Webcom | Webcom | |
Acquisitions | ' | ' | ' | ' | ' | ' | ' | ' |
Cash paid for the acquisition | ' | $9 | ' | $1 | ' | ' | ' | ' |
Indemnity holdback | ' | 1.5 | ' | ' | ' | ' | ' | 1.6 |
Indemnity holdback paid and settled | 1.3 | ' | 0.3 | ' | ' | ' | ' | ' |
Earn-out related contingent consideration | ' | ' | ' | ' | ' | ' | ' | 1.8 |
Purchase Consideration | ' | ' | ' | ' | ' | ' | ' | 10.8 |
Claims applied to indemnity holdback | ' | ' | ' | ' | ' | 0.1 | ' | ' |
Indemnity holdback accrued | ' | ' | ' | ' | ' | 0.8 | ' | ' |
Contingent consideration paid | ' | ' | ' | ' | $1.80 | ' | $1.80 | ' |
Goodwill_and_Intangible_Assets2
Goodwill and Intangible Assets (Details) (USD $) | 3 Months Ended | 9 Months Ended | |||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 |
Goodwill and Intangible Assets Disclosure [Abstract] | ' | ' | ' | ' | ' |
Goodwill | $31,207 | ' | $31,207 | ' | $31,207 |
Changes in intangible assets during the year | ' | ' | ' | ' | ' |
Cost | ' | ' | 24,972 | ' | ' |
Balance at the beginning of the period, net | ' | ' | 21,196 | ' | ' |
Additions | ' | ' | 508 | ' | ' |
Amortization Expense | -1,200 | -1,300 | -3,621 | -3,818 | ' |
Balance at the end of the period, net | 18,083 | ' | 18,083 | ' | ' |
Developed technology | ' | ' | ' | ' | ' |
Changes in intangible assets during the year | ' | ' | ' | ' | ' |
Cost | ' | ' | 15,179 | ' | ' |
Balance at the beginning of the period, net | ' | ' | 12,384 | ' | ' |
Additions | ' | ' | 495 | ' | ' |
Amortization Expense | ' | ' | -2,498 | ' | ' |
Balance at the end of the period, net | 10,381 | ' | 10,381 | ' | ' |
Developed technology | Weighted average | ' | ' | ' | ' | ' |
Changes in intangible assets during the year | ' | ' | ' | ' | ' |
Amortization period | ' | ' | '4 years 5 months 15 days | ' | ' |
Customer relationships | ' | ' | ' | ' | ' |
Changes in intangible assets during the year | ' | ' | ' | ' | ' |
Cost | ' | ' | 6,884 | ' | ' |
Balance at the beginning of the period, net | ' | ' | 4,952 | ' | ' |
Additions | ' | ' | 0 | ' | ' |
Amortization Expense | ' | ' | -653 | ' | ' |
Balance at the end of the period, net | 4,299 | ' | 4,299 | ' | ' |
Customer relationships | Weighted average | ' | ' | ' | ' | ' |
Changes in intangible assets during the year | ' | ' | ' | ' | ' |
Amortization period | ' | ' | '5 years 1 month 13 days | ' | ' |
Trade names | ' | ' | ' | ' | ' |
Changes in intangible assets during the year | ' | ' | ' | ' | ' |
Cost | ' | ' | 1,202 | ' | ' |
Balance at the beginning of the period, net | ' | ' | 1,040 | ' | ' |
Additions | ' | ' | 0 | ' | ' |
Amortization Expense | ' | ' | -167 | ' | ' |
Balance at the end of the period, net | 873 | ' | 873 | ' | ' |
Trade names | Weighted average | ' | ' | ' | ' | ' |
Changes in intangible assets during the year | ' | ' | ' | ' | ' |
Amortization period | ' | ' | '5 years 4 months 27 days | ' | ' |
Patents and Licenses | ' | ' | ' | ' | ' |
Changes in intangible assets during the year | ' | ' | ' | ' | ' |
Cost | ' | ' | 1,525 | ' | ' |
Balance at the beginning of the period, net | ' | ' | 2,744 | ' | ' |
Additions | ' | ' | 0 | ' | ' |
Amortization Expense | ' | ' | -263 | ' | ' |
Balance at the end of the period, net | 2,481 | ' | 2,481 | ' | ' |
Patents and Licenses | Weighted average | ' | ' | ' | ' | ' |
Changes in intangible assets during the year | ' | ' | ' | ' | ' |
Amortization period | ' | ' | '7 years 9 months 18 days | ' | ' |
Other | ' | ' | ' | ' | ' |
Changes in intangible assets during the year | ' | ' | ' | ' | ' |
Cost | ' | ' | 182 | ' | ' |
Balance at the beginning of the period, net | ' | ' | 76 | ' | ' |
Additions | ' | ' | 13 | ' | ' |
Amortization Expense | ' | ' | -40 | ' | ' |
Balance at the end of the period, net | $49 | ' | $49 | ' | ' |
Other | Weighted average | ' | ' | ' | ' | ' |
Changes in intangible assets during the year | ' | ' | ' | ' | ' |
Amortization period | ' | ' | '9 months | ' | ' |
Goodwill_and_Intangible_Assets3
Goodwill and Intangible Assets (Details 2) (USD $) | 9 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2013 |
Minimum | ' |
Intangible assets | ' |
Estimated useful life | '1 year |
Maximum | ' |
Intangible assets | ' |
Estimated useful life | '12 years |
Developed Technology | ' |
Future expected amortization expense | ' |
Remainder of 2013 | 792 |
2014 | 2,451 |
2015 | 2,118 |
2016 | 2,124 |
2017 | 1,813 |
2018 | 1,083 |
2019 and beyond | 0 |
Total expected amortization expense | 10,381 |
Customer Relationships | ' |
Future expected amortization expense | ' |
Remainder of 2013 | 220 |
2014 | 874 |
2015 | 874 |
2016 | 876 |
2017 | 768 |
2018 | 501 |
2019 and beyond | 186 |
Total expected amortization expense | 4,299 |
Trade names | ' |
Future expected amortization expense | ' |
Remainder of 2013 | 45 |
2014 | 179 |
2015 | 179 |
2016 | 151 |
2017 | 142 |
2018 | 101 |
2019 and beyond | 76 |
Total expected amortization expense | 873 |
Patents and Licenses | ' |
Future expected amortization expense | ' |
Remainder of 2013 | 89 |
2014 | 348 |
2015 | 343 |
2016 | 344 |
2017 | 343 |
2018 | 313 |
2019 and beyond | 701 |
Total expected amortization expense | 2,481 |
Other | ' |
Future expected amortization expense | ' |
Remainder of 2013 | 15 |
2014 | 34 |
2015 | 0 |
2016 | 0 |
2017 | 0 |
2018 | 0 |
2019 and beyond | 0 |
Total expected amortization expense | 49 |
Financial_Instruments_Details
Financial Instruments (Details) (USD $) | 9 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | |||
Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | |
Cash | Cash | Cash equivalents | Cash equivalents | Money market funds | Money market funds | Cash and cash equivalents | Cash and cash equivalents | Short-term investments | Short-term investments | U.S. government and agency obligations | U.S. government and agency obligations | Corporate notes and obligations | Corporate notes and obligations | |||||
Financial instruments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from Sale and Maturity of Available-for-sale Securities | $3,800,000 | $15,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash and cash equivalents | 25,192,000 | 6,697,000 | 16,400,000 | 17,383,000 | 19,913,000 | 13,062,000 | 5,279,000 | 3,338,000 | 5,279,000 | 3,338,000 | 25,192,000 | 16,400,000 | ' | ' | ' | ' | ' | ' |
Amortized Cost | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 8,881,000 | 12,761,000 | 5,621,000 | 6,700,000 | 3,260,000 | 6,061,000 |
Gross Unrealized Gains | ' | ' | ' | ' | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 5,000 | 10,000 | 1,000 | 0 | 4,000 | 10,000 |
Gross Unrealized Losses | ' | ' | ' | ' | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Other Than Temporary Impairment | ' | ' | ' | ' | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Estimated Fair Value, Cash and Cash Equivalents | ' | ' | ' | ' | 19,913,000 | 13,062,000 | 5,279,000 | 3,338,000 | 5,279,000 | 3,338,000 | 25,192,000 | 16,400,000 | ' | ' | ' | ' | ' | ' |
Estimated FV, Available for Sale Securities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $8,886,000 | $12,771,000 | $5,622,000 | $6,700,000 | $3,264,000 | $6,071,000 |
Financial_Instruments_Details_
Financial Instruments (Details 2) (USD $) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | |
Contractual maturity, Amortized Cost | ' | ' | ' | ' | ' |
Less than 1 year | $6,581,000 | ' | $6,581,000 | ' | ' |
Between 1 and 2 years | 2,300,000 | ' | 2,300,000 | ' | ' |
Total | 8,881,000 | ' | 8,881,000 | ' | ' |
Contractual maturity, Estimated Fair value | ' | ' | ' | ' | ' |
Less than 1 year | 6,586,000 | ' | 6,586,000 | ' | ' |
Between 1 and 2 years | 2,300,000 | ' | 2,300,000 | ' | ' |
Total | 8,886,000 | ' | 8,886,000 | ' | ' |
Other disclosures pertaining to available-for-sale securities | ' | ' | ' | ' | ' |
Short-term investments in a material unrealized loss position with maturities of greater than 12 months | 0 | ' | 0 | ' | 0 |
Realized gains or losses on sales of investments | 0 | 0 | 0 | 0 | ' |
Proceeds from Sale and Maturity of Available-for-sale Securities | ' | ' | $3,800,000 | $15,300,000 | ' |
Fair_Value_Measurements_Detail
Fair Value Measurements (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | ||
In Thousands, unless otherwise specified | ||||
Liabilities: | ' | ' | ||
Liabilities, Fair Value Disclosure | $0 | $1,750 | ||
Contingent consideration | ' | ' | ||
Liabilities: | ' | ' | ||
Liabilities, Fair Value Disclosure | 0 | 1,750 | ||
Ongoing basis | ' | ' | ||
Liabilities: | ' | ' | ||
Liabilities, Fair Value Disclosure | ' | 1,750 | ||
Ongoing basis | Contingent consideration | ' | ' | ||
Liabilities: | ' | ' | ||
Liabilities, Fair Value Disclosure | ' | 1,750 | ||
Ongoing basis | Total | ' | ' | ||
Assets: | ' | ' | ||
Assets, Fair Value Disclosure | 14,165 | 16,109 | ||
Ongoing basis | Total | Money market funds | ' | ' | ||
Assets: | ' | ' | ||
Assets, Fair Value Disclosure | 5,279 | [1] | 3,338 | [2] |
Ongoing basis | Total | U.S. Treasury bills | ' | ' | ||
Assets: | ' | ' | ||
Assets, Fair Value Disclosure | ' | 1,000 | [3] | |
Ongoing basis | Total | U.S. government and agency obligations | ' | ' | ||
Assets: | ' | ' | ||
Assets, Fair Value Disclosure | 5,622 | [4] | 5,700 | [3] |
Ongoing basis | Total | Corporate notes and obligations | ' | ' | ||
Assets: | ' | ' | ||
Assets, Fair Value Disclosure | 3,264 | [4] | 6,071 | [3] |
Ongoing basis | Quoted Prices in Active Markets for Identical Assets (Level 1) | ' | ' | ||
Assets: | ' | ' | ||
Assets, Fair Value Disclosure | 5,279 | 4,338 | ||
Liabilities: | ' | ' | ||
Liabilities, Fair Value Disclosure | ' | 0 | ||
Ongoing basis | Quoted Prices in Active Markets for Identical Assets (Level 1) | Contingent consideration | ' | ' | ||
Liabilities: | ' | ' | ||
Liabilities, Fair Value Disclosure | ' | 0 | ||
Ongoing basis | Quoted Prices in Active Markets for Identical Assets (Level 1) | Money market funds | ' | ' | ||
Assets: | ' | ' | ||
Assets, Fair Value Disclosure | 5,279 | [1] | 3,338 | [2] |
Ongoing basis | Quoted Prices in Active Markets for Identical Assets (Level 1) | U.S. Treasury bills | ' | ' | ||
Assets: | ' | ' | ||
Assets, Fair Value Disclosure | ' | 1,000 | [3] | |
Ongoing basis | Quoted Prices in Active Markets for Identical Assets (Level 1) | U.S. government and agency obligations | ' | ' | ||
Assets: | ' | ' | ||
Assets, Fair Value Disclosure | 0 | [4] | 0 | [3] |
Ongoing basis | Quoted Prices in Active Markets for Identical Assets (Level 1) | Corporate notes and obligations | ' | ' | ||
Assets: | ' | ' | ||
Assets, Fair Value Disclosure | 0 | [4] | 0 | [3] |
Ongoing basis | Significant Other Observable Inputs (Level 2) | ' | ' | ||
Assets: | ' | ' | ||
Assets, Fair Value Disclosure | 8,886 | 11,771 | ||
Liabilities: | ' | ' | ||
Liabilities, Fair Value Disclosure | ' | 0 | ||
Ongoing basis | Significant Other Observable Inputs (Level 2) | Contingent consideration | ' | ' | ||
Liabilities: | ' | ' | ||
Liabilities, Fair Value Disclosure | ' | 0 | ||
Ongoing basis | Significant Other Observable Inputs (Level 2) | Money market funds | ' | ' | ||
Assets: | ' | ' | ||
Assets, Fair Value Disclosure | 0 | [1] | 0 | [2] |
Ongoing basis | Significant Other Observable Inputs (Level 2) | U.S. Treasury bills | ' | ' | ||
Assets: | ' | ' | ||
Assets, Fair Value Disclosure | ' | 0 | [3] | |
Ongoing basis | Significant Other Observable Inputs (Level 2) | U.S. government and agency obligations | ' | ' | ||
Assets: | ' | ' | ||
Assets, Fair Value Disclosure | 5,622 | [4] | 5,700 | [3] |
Ongoing basis | Significant Other Observable Inputs (Level 2) | Corporate notes and obligations | ' | ' | ||
Assets: | ' | ' | ||
Assets, Fair Value Disclosure | 3,264 | [4] | 6,071 | [3] |
Ongoing basis | Significant Unobservable Inputs (Level 3) | ' | ' | ||
Assets: | ' | ' | ||
Assets, Fair Value Disclosure | 0 | 0 | ||
Liabilities: | ' | ' | ||
Liabilities, Fair Value Disclosure | ' | 1,750 | ||
Ongoing basis | Significant Unobservable Inputs (Level 3) | Contingent consideration | ' | ' | ||
Liabilities: | ' | ' | ||
Liabilities, Fair Value Disclosure | ' | 1,750 | ||
Ongoing basis | Significant Unobservable Inputs (Level 3) | Money market funds | ' | ' | ||
Assets: | ' | ' | ||
Assets, Fair Value Disclosure | 0 | [1] | 0 | [2] |
Ongoing basis | Significant Unobservable Inputs (Level 3) | U.S. Treasury bills | ' | ' | ||
Assets: | ' | ' | ||
Assets, Fair Value Disclosure | ' | 0 | [3] | |
Ongoing basis | Significant Unobservable Inputs (Level 3) | U.S. government and agency obligations | ' | ' | ||
Assets: | ' | ' | ||
Assets, Fair Value Disclosure | 0 | [4] | 0 | [3] |
Ongoing basis | Significant Unobservable Inputs (Level 3) | Corporate notes and obligations | ' | ' | ||
Assets: | ' | ' | ||
Assets, Fair Value Disclosure | $0 | [4] | $0 | [3] |
[1] | Included in cash and cash equivalents on the condensed consolidated balance sheet. | |||
[2] | Included in cash and cash equivalents on the consolidated balance sheet. | |||
[3] | Included in short-term investments on the consolidated balance sheet. | |||
[4] | Included in short-term investments on the condensed consolidated balance sheet. |
Fair_Value_Measurements_Detail1
Fair Value Measurements (Details 2) (USD $) | 9 Months Ended | 1 Months Ended | 3 Months Ended | 9 Months Ended |
Sep. 30, 2013 | Feb. 28, 2013 | Mar. 31, 2013 | Sep. 30, 2013 | |
Webcom | Webcom | Contingent consideration | ||
Liabilities: | ' | ' | ' | ' |
Balance at the beginning of the period | $1,750,000 | ' | ' | $1,750,000 |
Additions | 0 | ' | ' | 0 |
Payments | -1,750,000 | ' | ' | -1,750,000 |
Balance at the end of the period | 0 | ' | ' | 0 |
Contingent consideration paid | ' | $1,800,000 | $1,800,000 | ' |
Convertible_Notes_Details
Convertible Notes (Details) (USD $) | 9 Months Ended | |
Sep. 30, 2013 | Dec. 31, 2012 | |
Convertible Notes | ' | ' |
Aggregate principal amount of debt outstanding | $59,215,000 | $59,215,000 |
Convertible notes | ' | ' |
Convertible Notes | ' | ' |
Aggregate principal amount of debt outstanding | 59,200,000 | ' |
Convertible Senior Notes due 2016, interest rate (as a percent) | 4.75% | ' |
Fair value | 74,100,000 | 58,000,000 |
Percentage of the conversion price that the closing price of the entity's common stock must exceed in order for the notes to be convertible | 130.00% | ' |
Number of days within 30 consecutive trading days in which the closing price of the entity's common stock must exceed the conversion price for the notes to be redeemable | '20 days | ' |
Number of consecutive trading days during which the closing price of the entity's common stock must exceed the conversion price for at least 20 days in order for the notes to be redeemable | '30 days | ' |
Number of trading days prior to the date on which the entity provides notice of redemption | '5 days | ' |
Redemption price as percentage of principal amount of notes, plus accrued and unpaid interest | 100.00% | ' |
Conversion rate of common stock per $1000 of principal amount of convertible notes (in shares) | 129.6596 | ' |
Principal amount used for computation of conversion ratio | 1,000 | ' |
Conversion price (in dollars per share) | $7.71 | ' |
Convertible debt issuance costs, current portion | 500,000 | 500,000 |
Debt issuance costs, recorded in deposits and other assets | $900,000 | $1,300,000 |
Commitments_and_Contingencies_
Commitments and Contingencies (Details) (USD $) | 0 Months Ended |
In Millions, unless otherwise specified | Mar. 26, 2013 |
Application server software licenses obligations | ' |
Contractual cash obligations | ' |
Contractual obligation under agreement | $2.60 |
Application server software licenses related maintenance obligations | ' |
Contractual cash obligations | ' |
Contractual obligation under agreement | $4.30 |
Contractual Obligation Term | '3 years |
Segment_Geographic_and_Custome2
Segment, Geographic and Customer Information (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
customer | customer | customer | customer | |
segment | ||||
Segment Reporting [Abstract] | ' | ' | ' | ' |
Number of operating segments | ' | ' | 1 | ' |
Revenues by geographic area | ' | ' | ' | ' |
Revenues | $30,678 | $23,925 | $82,150 | $69,719 |
Number of customers accounted for more than 10% of total revenues | 0 | 0 | 0 | 0 |
United States | ' | ' | ' | ' |
Revenues by geographic area | ' | ' | ' | ' |
Revenues | 22,052 | 18,301 | 62,616 | 54,808 |
EMEA | ' | ' | ' | ' |
Revenues by geographic area | ' | ' | ' | ' |
Revenues | 3,050 | 2,484 | 9,227 | 7,919 |
Asia Pacific | ' | ' | ' | ' |
Revenues by geographic area | ' | ' | ' | ' |
Revenues | 3,273 | 1,650 | 5,783 | 4,038 |
Other | ' | ' | ' | ' |
Revenues by geographic area | ' | ' | ' | ' |
Revenues | $2,303 | $1,490 | $4,524 | $2,954 |
Net_Loss_Per_Share_Details
Net Loss Per Share (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
Share data in Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Net Loss Per Share | ' | ' | ' | ' |
Anti-dilutive securities excluded from computation of diluted net loss per share (in shares) | 12,224 | 14,229 | 12,379 | 14,773 |
4.75 % Convertible Senior Notes due in 2016 | ' | ' | ' | ' |
Net Loss Per Share | ' | ' | ' | ' |
Conversion rate of common stock per $1000 of principal amount of convertible notes (in shares) | ' | ' | 130 | ' |
Conversion price (in dollars per share) | 7.71 | ' | 7.71 | ' |
Principal amount used for computation of conversion ratio | 1,000 | ' | 1,000 | ' |
Restricted stock | ' | ' | ' | ' |
Net Loss Per Share | ' | ' | ' | ' |
Anti-dilutive securities excluded from computation of diluted net loss per share (in shares) | 1,967 | 3,441 | 2,071 | 3,701 |
Stock options | ' | ' | ' | ' |
Net Loss Per Share | ' | ' | ' | ' |
Anti-dilutive securities excluded from computation of diluted net loss per share (in shares) | 2,558 | 3,076 | 2,622 | 3,381 |
Weighted average exercise price (in dollars per share) | 4.62 | 3.34 | 4.22 | 3.71 |
ESPP | ' | ' | ' | ' |
Net Loss Per Share | ' | ' | ' | ' |
Anti-dilutive securities excluded from computation of diluted net loss per share (in shares) | 19 | 32 | 6 | 11 |
Convertible notes | ' | ' | ' | ' |
Net Loss Per Share | ' | ' | ' | ' |
Anti-dilutive securities excluded from computation of diluted net loss per share (in shares) | 7,680 | 7,680 | 7,680 | 7,680 |
Stockbased_Compensation_Detail
Stock-based Compensation (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | |
Stock-based compensation | ' | ' | ' | ' |
Stock-based compensation expense | $2,544,000 | $3,422,000 | $8,345,000 | $10,917,000 |
Options | ' | ' | ' | ' |
Stock-based compensation | ' | ' | ' | ' |
Stock-based compensation expense | 181,000 | 143,000 | 642,000 | 713,000 |
Unrecognized compensation expense, stock options | 2,800,000 | ' | 2,800,000 | ' |
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized, Period for Recognition | ' | ' | '3 years 5 months 15 days | ' |
Restricted Stock Units Performance Awards [Member] | ' | ' | ' | ' |
Stock-based compensation | ' | ' | ' | ' |
Stock-based compensation expense | 463,000 | 210,000 | 984,000 | 387,000 |
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized, Share-based Awards Other than Options | 1,600,000 | ' | 1,600,000 | ' |
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized, Period for Recognition | ' | ' | '10 months 24 days | ' |
Percentage of grants vested during period | ' | ' | 50.00% | ' |
Restricted Stock Units | ' | ' | ' | ' |
Stock-based compensation | ' | ' | ' | ' |
Stock-based compensation expense | 1,750,000 | 2,849,000 | 6,263,000 | 9,281,000 |
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized, Share-based Awards Other than Options | 7,100,000 | ' | 7,100,000 | ' |
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized, Period for Recognition | ' | ' | '1 year 7 months 6 days | ' |
ESPP | ' | ' | ' | ' |
Stock-based compensation | ' | ' | ' | ' |
Stock-based compensation expense | 150,000 | 220,000 | 456,000 | 536,000 |
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized, Share-based Awards Other than Options | $500,000 | ' | $500,000 | ' |
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized, Period for Recognition | ' | ' | '10 months 2 days | ' |
Stockbased_Compensation_Detail1
Stock-based Compensation (Details 2) (USD $) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | |
Classification of stock-based compensation expense | ' | ' | ' | ' |
Stock-based compensation expense | $2,544,000 | $3,422,000 | $8,345,000 | $10,917,000 |
Cost of recurring revenues | ' | ' | ' | ' |
Classification of stock-based compensation expense | ' | ' | ' | ' |
Stock-based compensation expense | 234,000 | 351,000 | 612,000 | 1,280,000 |
Cost of services and other revenues | ' | ' | ' | ' |
Classification of stock-based compensation expense | ' | ' | ' | ' |
Stock-based compensation expense | 218,000 | 573,000 | 860,000 | 1,623,000 |
Sales and marketing | ' | ' | ' | ' |
Classification of stock-based compensation expense | ' | ' | ' | ' |
Stock-based compensation expense | 769,000 | 997,000 | 1,924,000 | 2,937,000 |
Research and development | ' | ' | ' | ' |
Classification of stock-based compensation expense | ' | ' | ' | ' |
Stock-based compensation expense | 384,000 | 477,000 | 1,317,000 | 1,376,000 |
General and administrative | ' | ' | ' | ' |
Classification of stock-based compensation expense | ' | ' | ' | ' |
Stock-based compensation expense | 939,000 | 1,024,000 | 3,632,000 | 3,701,000 |
Restricted Stock Units Performance Awards [Member] | ' | ' | ' | ' |
Classification of stock-based compensation expense | ' | ' | ' | ' |
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized, Share-based Awards Other than Options | 1,600,000 | ' | 1,600,000 | ' |
Stock-based compensation expense | $463,000 | $210,000 | $984,000 | $387,000 |
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized, Period for Recognition | ' | ' | '10 months 24 days | ' |
Stockbased_Compensation_Detail2
Stock-based Compensation (Details 3) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | |
Minimum | ' | ' | ' | ' |
Fair value assumptions using the Black-Scholes-Merton valuation model | ' | ' | ' | ' |
Expected life (in years) | ' | ' | '6 months | '6 months |
Risk-free interest rate, minimum (as a percent) | ' | ' | 0.08% | 0.13% |
Volatility, minimum (as a percent) | ' | ' | 41.00% | 56.00% |
Maximum | ' | ' | ' | ' |
Fair value assumptions using the Black-Scholes-Merton valuation model | ' | ' | ' | ' |
Expected life (in years) | ' | ' | '1 year | '1 year |
Risk-free interest rate, maximum (as a percent) | ' | ' | 0.17% | 0.20% |
Volatility, maximum (as a percent) | ' | ' | 62.00% | 62.00% |
ESPP | ' | ' | ' | ' |
Fair value assumptions using the Black-Scholes-Merton valuation model | ' | ' | ' | ' |
Dividend Yield (as a percent) | ' | ' | 0.00% | ' |
Stock options | ' | ' | ' | ' |
Fair value assumptions using the Black-Scholes-Merton valuation model | ' | ' | ' | ' |
Dividend Yield (as a percent) | 0.00% | 0.00% | 0.00% | 0.00% |
Stock options | Minimum | ' | ' | ' | ' |
Fair value assumptions using the Black-Scholes-Merton valuation model | ' | ' | ' | ' |
Expected life (in years) | '6 years | '0 years | '5 years | '5 years |
Risk-free interest rate, minimum (as a percent) | 1.69% | 0.00% | 1.41% | 0.72% |
Volatility, minimum (as a percent) | 61.00% | 0.00% | 61.00% | 60.00% |
Stock options | Maximum | ' | ' | ' | ' |
Fair value assumptions using the Black-Scholes-Merton valuation model | ' | ' | ' | ' |
Expected life (in years) | '6 years 1 month 6 days | '0 years | '6 years 1 month 6 days | '6 years |
Risk-free interest rate, maximum (as a percent) | 1.93% | 0.00% | 1.93% | 1.33% |
Volatility, maximum (as a percent) | 62.00% | 0.00% | 63.00% | 65.00% |
Related_Party_Transactions_Det
Related Party Transactions (Details) (USD $) | 3 Months Ended | 9 Months Ended | 1 Months Ended | 3 Months Ended | 1 Months Ended | 3 Months Ended | ||||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Jun. 30, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Jun. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | |
Webcom | Webcom | Webcom | Webcom | Subscription Arrangement [Member] | Subscription Arrangement [Member] | Hosting Agreement [Member] | Service Agreements [Member] | Service Agreements [Member] | Prepaid And Other Current Assets [Member] | |
Lithium [Member] | Lithium [Member] | Lithium [Member] | Lithium [Member] | Lithium [Member] | Subscription Arrangement [Member] | |||||
Lithium [Member] | ||||||||||
Related party transactions | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amount under related party transaction agreement | ' | ' | ' | ' | $120,000 | ' | ' | ' | ' | ' |
Related party transaction amount | ' | ' | ' | ' | ' | 120,000 | 113,000 | 109,000 | ' | 88,000 |
Amount expensed in period from related party transaction | ' | ' | ' | ' | ' | 32,000 | ' | ' | ' | ' |
Revenue recongnized in related party transaction | ' | ' | ' | ' | ' | ' | 26,000 | ' | 62,000 | ' |
Product modeling and maintenance of certain equipment | $40,000 | $53,000 | $114,000 | $101,000 | ' | ' | ' | ' | ' | ' |
Subsequent_Events_Details
Subsequent Events (Details) (Subsequent Event [Member], USD $) | 0 Months Ended | ||||
In Millions, except Share data, unless otherwise specified | Nov. 07, 2013 | Oct. 24, 2013 | Nov. 07, 2013 | Oct. 24, 2013 | Nov. 05, 2013 |
Convertible notes | Convertible notes | Positive Outcome of Litigation [Member] | |||
Subsequent Event [Line Items] | ' | ' | ' | ' | ' |
Stock issued in exchange for debt (in shares) | 518,638 | 1,251,215 | ' | ' | ' |
Aggregate principal amount of Convertible Notes | ' | ' | $4 | $9.70 | ' |
Accrued interest expense | ' | ' | 0.1 | 0.2 | ' |
Litigation Settlement, Gross | ' | ' | ' | ' | $2 |