Document_and_Entity_Informatio
Document and Entity Information | 3 Months Ended | |
Mar. 31, 2015 | Apr. 23, 2015 | |
Document And Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | FALSE | |
Document Period End Date | 31-Mar-15 | |
Document Fiscal Year Focus | 2015 | |
Document Fiscal Period Focus | Q1 | |
Trading Symbol | IMMR | |
Entity Registrant Name | IMMERSION CORP | |
Entity Central Index Key | 1058811 | |
Current Fiscal Year End Date | -19 | |
Entity Filer Category | Accelerated Filer | |
Entity Common Stock, Shares Outstanding | 28,015,756 |
Condensed_Consolidated_Balance
Condensed Consolidated Balance Sheets (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Current assets: | ||
Cash and cash equivalents | $40,355 | $14,380 |
Short-term investments | 37,987 | 42,981 |
Accounts and other receivables (net of allowances for doubtful accounts of $36 and $28) | 1,902 | 3,021 |
Deferred income taxes | 9,377 | 9,377 |
Prepaid expenses and other current assets | 597 | 845 |
Total current assets | 90,218 | 70,604 |
Property and equipment, net | 2,581 | 1,207 |
Deferred income tax assets | 25,557 | 25,419 |
Intangibles and other assets, net | 278 | 291 |
Total assets | 118,634 | 97,521 |
Current liabilities: | ||
Accounts payable | 1,670 | 669 |
Accrued compensation | 2,621 | 1,906 |
Other current liabilities | 3,778 | 2,225 |
Deferred revenue | 25,082 | 7,779 |
Total current liabilities | 33,151 | 12,579 |
Long-term deferred revenue | 6,313 | 7,827 |
Other long-term liabilities | 631 | 512 |
Total liabilities | 40,095 | 20,918 |
Contingencies (Note 12) | ||
Stockholders' equity: | ||
Common stock and additional paid-in capital - $0.001 par value; 100,000,000 shares authorized; 34,521,521 and 34,225,778 shares issued, respectively; 28,011,130 and 27,715,387 shares outstanding, respectively | 206,870 | 204,876 |
Accumulated other comprehensive income | 103 | 102 |
Accumulated deficit | -82,865 | -82,806 |
Treasury stock at cost: 6,510,391 shares | -45,569 | -45,569 |
Total stockholders' equity | 78,539 | 76,603 |
Total liabilities and stockholders' equity | $118,634 | $97,521 |
Condensed_Consolidated_Balance1
Condensed Consolidated Balance Sheets (Parenthetical) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, except Share data, unless otherwise specified | ||
Statement of Financial Position [Abstract] | ||
Allowance for doubtful accounts | $36 | $28 |
Common stock, par value | $0.00 | $0.00 |
Common stock, shares authorized | 100,000,000 | 100,000,000 |
Common stock, shares issued | 34,521,521 | 34,225,778 |
Common stock, shares outstanding | 28,011,130 | 27,715,387 |
Treasury stock, shares | 6,510,391 | 6,510,391 |
Condensed_Consolidated_Stateme
Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) (USD $) | 3 Months Ended | |
In Thousands, except Per Share data, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Revenues: | ||
Royalty and license | $16,012 | $15,157 |
Development, services, and other | 275 | 279 |
Total revenues | 16,287 | 15,436 |
Costs and expenses: | ||
Cost of revenues (exclusive of amortization of intangibles shown separately below) | 115 | 120 |
Sales and marketing | 4,210 | 2,763 |
Research and development | 3,727 | 3,058 |
General and administrative | 8,293 | 6,521 |
Amortization of intangibles | 12 | 20 |
Total costs and expenses | 16,357 | 12,482 |
Operating income (loss) | -70 | 2,954 |
Interest and other income (expense) | -25 | -7 |
Income (loss) before benefit (provision) for income taxes | -95 | 2,947 |
Benefit (provision) for income taxes | 36 | -1,083 |
Net income (loss) | -59 | 1,864 |
Basic net income (loss) per share | $0 | $0.07 |
Shares used in calculating basic net income (loss) per share | 27,818 | 28,370 |
Diluted net income (loss) per share | $0 | $0.06 |
Shares used in calculating diluted net income (loss) per share | 27,818 | 29,382 |
Other Comprehensive Income (Loss) | ||
Change in unrealized gains on short-term investments | 1 | 1 |
Total Other Comprehensive Income (Loss) | 1 | 1 |
Total Comprehensive Income (Loss) | ($58) | $1,865 |
Condensed_Consolidated_Stateme1
Condensed Consolidated Statements of Cash Flows (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Cash flows provided by operating activities: | ||
Net income (loss) | ($59) | $1,864 |
Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ||
Depreciation and amortization of property and equipment | 314 | 107 |
Amortization of intangibles | 12 | 20 |
Stock-based compensation | 1,740 | 1,583 |
Allowance (recovery) for doubtful accounts | 8 | 0 |
Changes in operating assets and liabilities: | ||
Accounts and other receivables | 1,111 | -171 |
Deferred income taxes | -138 | 1,020 |
Prepaid expenses and other current assets | 248 | 140 |
Other operating assets | -10 | -16 |
Accounts payable | 887 | 610 |
Accrued compensation and other current liabilities | 1,477 | -1,638 |
Deferred revenue | 15,789 | 12,947 |
Other long-term liabilities | 119 | -27 |
Net cash provided by operating activities | 21,498 | 16,439 |
Cash flows provided by (used in) investing activities: | ||
Purchases of short-term investments | -4,994 | -9,988 |
Proceeds from maturities of short-term investments | 10,000 | 10,000 |
Purchases of property and equipment | -783 | -325 |
Net cash provided by (used in) investing activities | 4,223 | -313 |
Cash flows provided by (used in) financing activities: | ||
Issuance of common stock under employee stock purchase plan | 190 | 176 |
Exercise of stock options | 64 | 149 |
Purchases of treasury stock | 0 | -6,222 |
Net cash provided by (used in) financing activities | 254 | -5,897 |
Net increase (decrease) in cash and cash equivalents | 25,975 | 10,229 |
Cash and cash equivalents: | ||
Beginning of period | 14,380 | 14,136 |
End of period | 40,355 | 24,365 |
Supplemental disclosure of cash flow information | ||
Cash paid for taxes | 70 | 26 |
Supplemental disclosure of noncash operating, investing, and financing activities | ||
Amounts accrued for property and equipment | 965 | 15 |
Amounts accrued for purchase of treasury stock | 0 | 660 |
Release of Restricted Stock Units and Awards under company stock plan | $2,184 | $3,061 |
Significant_Accounting_Policie
Significant Accounting Policies | 3 Months Ended | |||
Mar. 31, 2015 | ||||
Accounting Policies [Abstract] | ||||
Significant Accounting Policies | 1 | SIGNIFICANT ACCOUNTING POLICIES | ||
Description of Business | ||||
Immersion Corporation (the “Company”) was incorporated in 1993 in California and reincorporated in Delaware in 1999. It is an intellectual property (“IP”) and software licensing company focused on the creation, design, development, and licensing of patented haptic innovations and software that allow people to use their sense of touch more fully when operating a wide variety of digital devices. | ||||
Principles of Consolidation and Basis of Presentation | ||||
The condensed consolidated financial statements include the accounts of Immersion Corporation and its wholly-owned subsidiaries: Immersion Canada Inc.; Immersion International, LLC; Immersion Medical, Inc.; Immersion Japan K.K.; Immersion Ltd.; Immersion Software Ireland Ltd.; Haptify, Inc.; Immersion (Shanghai) Science & Technology Company, Ltd.; and Immersion Technology International. All intercompany accounts, transactions, and balances have been eliminated in consolidation. | ||||
The accompanying condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and with the instructions for Form 10-Q and Article 10 of Regulation S-X and, therefore, do not include all information and footnotes necessary for a complete presentation of the financial position, results of operations, and cash flows, in conformity with GAAP. These condensed consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements included in the Company’s Annual Report on Form 10-K, for the fiscal year ended December 31, 2014. In the opinion of management, all adjustments consisting of only normal and recurring items necessary for the fair presentation of the financial position and results of operations for the interim periods presented have been included. | ||||
The results of operations for the three months ended March 31, 2015 are not necessarily indicative of the results to be expected for the full year. | ||||
Segment Information | ||||
The Company develops, licenses, and supports a wide range of software and IP that more fully engage users’ sense of touch when operating digital devices. The Company focuses on the following target application areas: mobility and consumer electronics, automotive, gaming, commercial and industrial, and medical. The Company’s chief operating decision maker (“CODM”) is the Chief Executive Officer. The CODM allocates resources to and assesses the performance of the Company using information about its financial results as one operating and reporting segment. | ||||
Revenue Recognition | ||||
The Company recognizes revenues in accordance with applicable accounting standards, including ASC 605-10-S99, “Revenue Recognition” (“ASC 605-10-S99”); ASC 605-25, “Multiple Element Arrangements” (“ASC 605-25”); and ASC 985-605, “Software-Revenue Recognition” (“ASC 985-605”). The Company derives its revenues from two principal sources: royalty and license fees, and development contract and service fees. As described below, management judgments, assumptions, and estimates must be made and used in connection with the revenue recognized in any accounting period. Material differences may result in the amount and timing of revenue for any period based on the judgments and estimates made by management. Specifically, in connection with each transaction, the Company must evaluate whether: (i) persuasive evidence of an arrangement exists, (ii) delivery has occurred, (iii) the fee is fixed or determinable, and (iv) collectibility is probable. The Company applies these criteria as discussed below. | ||||
• | Persuasive evidence of an arrangement exists. For a license arrangement, the Company requires a written contract, signed by both the customer and the Company. | |||
• | Delivery has occurred. The Company delivers software to customers physically and also delivers software electronically. For electronic deliveries, delivery occurs when the Company provides the customer access codes or “keys” that allow the customer to take immediate possession of the software. | |||
• | The fee is fixed or determinable. The Company’s arrangement fee is based on the use of standard payment terms, which are those that are generally extended to the majority of customers. For transactions involving extended payment terms, the Company deems these fees not to be fixed or determinable for revenue recognition purposes and revenue is deferred until the fees become due and payable. | |||
• | Collectibility is probable. To recognize revenue, the Company must judge collectibility of fees, which is done on a customer-by-customer basis pursuant to the Company’s credit review policy. The Company typically sells to customers with whom there is a history of successful collection. For new customers, the Company evaluates the customer’s financial condition and ability to pay. If it is determined that collectibility is not probable based upon the credit review process or the customer’s payment history, revenue is recognized when payment is received. | |||
Royalty and license revenue — The Company licenses its patents and software to customers in a variety of industries such as mobility, gaming, automotive, and medical devices. Certain of these are variable fee arrangements where the royalties earned by the Company are based on unit or sales volumes of the respective licensees. The Company also enters into fixed license fee arrangements. The terms of the royalty agreements generally require licensees to give notification of royalties due to the Company within 30 – 45 days of the end of the quarter during which their related sales occur. As the Company is unable to reliably estimate the licensees’ sales in any given quarter to determine the royalties due to it, the Company recognizes royalty revenues based on royalties reported by licensees and when all revenue recognition criteria are met. Certain royalties are based upon customer shipments or revenues and could be subject to change and may result in out of period adjustments. The Company recognizes fixed license fee revenue for licenses when earned under the terms of the agreements, which is generally recognized on a straight-line basis over the expected term of the license. | ||||
Development, services, and other revenue — Development, services, and other revenue are composed of engineering services (engineering services and/or development contracts), and in limited cases, post contract customer support (“PCS”). Engineering services revenues are recognized under the proportional performance accounting method based on physical completion of the work to be performed or completed performance method. A provision for losses on contracts is made, if necessary, in the period in which the loss becomes probable and can be reasonably estimated. Revisions in estimates are reflected in the period in which the conditions become known. To date, such losses have not been significant. Revenue from PCS is typically recognized over the period of the ongoing obligation, which is generally consistent with the contractual term. | ||||
Multiple element arrangements — The Company enters into multiple element arrangements in which customers purchase time-based non-exclusive licenses that cannot be resold to others, which include a combination of software and/or IP licenses, engineering services, and in limited cases PCS. For arrangements that are software based and include software and engineering services, the services are generally not essential to the functionality of the software, and customers may purchase engineering services to facilitate the adoption of the Company’s technology, but they may also decide to use their own resources or appoint other engineering service organizations to perform these services. For arrangements that are in substance subscription arrangements, the entire arrangement fee is recognized ratably over the contract term, subject to any limitations related to extended payment terms. For arrangements involving upfront fees for services and royalties earned by the Company based on unit or sales volumes of the respective licensees, and the services are performed ratably over the arrangement or are front-end loaded, the upfront fees are recognized ratably over the contract term and royalties based on unit or sales volume are recognized when they become fixed and determinable. As the Company is unable to reliably estimate the licensees’ sales in any given quarter to determine the royalties due to it, the Company recognizes per unit or sales volume driven royalty revenues based on royalties reported by licensees and when all revenue recognition criteria are met. | ||||
Recent Accounting Pronouncements | ||||
In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-09 “Revenue from Contracts with Customers: Topic 606” (“ASU 2014-09”) which will supersede the current revenue recognition requirements in Topic 605, Revenue Recognition, and most industry-specific guidance. The core principle of ASU 2014-09 is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. Further, the guidance requires improved disclosures to help users of financial statements better understand the nature, amount, timing, and uncertainty of revenue that is recognized. ASU 2014-09 is effective for reporting periods beginning after December 15, 2016, and permits companies to either apply the requirements retrospectively to all prior periods presented, or apply the requirements in the year of adoption, through a cumulative adjustment. The Company is required to adopt ASU 2014-09 as of January 1, 2017, and is in the process of determining the method of adoption and evaluating the impact on its consolidated financial statements. |
Fair_Value_Measurements
Fair Value Measurements | 3 Months Ended | ||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||
Fair Value Disclosures [Abstract] | |||||||||||||||||
Fair Value Measurements | 2 | FAIR VALUE MEASUREMENTS | |||||||||||||||
Cash Equivalents and Short-term Investments | |||||||||||||||||
The financial instruments of the Company measured at fair value on a recurring basis are cash equivalents and short-term investments. | |||||||||||||||||
The Company’s fixed income available-for-sale securities consist of high quality, investment grade securities. The Company values these securities based on pricing from pricing vendors, who may use quoted prices in active markets for identical assets (Level 1) or inputs other than quoted prices that are observable either directly or indirectly (Level 2) in determining fair value. | |||||||||||||||||
The types of instruments valued based on quoted market prices in active markets include money market securities. Such instruments are generally classified within Level 1 of the fair value hierarchy. | |||||||||||||||||
The types of instruments valued based on quoted prices in markets that are less active, broker or dealer quotations, or alternative pricing sources with reasonable levels of price transparency are generally classified within Level 2 of the fair value hierarchy and include most U.S. treasury securities and most investment-grade corporate commercial paper. | |||||||||||||||||
The types of instruments valued based on unobservable inputs which reflect the reporting entity’s own assumptions or data that market participants would use in valuing an instrument are generally classified within Level 3 of the fair value hierarchy. The Company had no Level 3 instruments as of March 31, 2015 and December 31, 2014. | |||||||||||||||||
Financial instruments measured at fair value on a recurring basis as of March 31, 2015 and December 31, 2014 are classified based on the valuation technique in the table below: | |||||||||||||||||
March 31, 2015 | |||||||||||||||||
Fair value measurements using | |||||||||||||||||
Quoted Prices in | Significant | Significant | Total | ||||||||||||||
Active Markets | Other | Unobservable | |||||||||||||||
for Identical | Observable | Inputs | |||||||||||||||
Assets | Inputs | (Level 3) | |||||||||||||||
(Level 1) | (Level 2) | ||||||||||||||||
(In thousands) | |||||||||||||||||
Assets: | |||||||||||||||||
U.S. Treasury securities | $ | 0 | $ | 37,987 | $ | 0 | $ | 37,987 | |||||||||
Money market accounts | 24,523 | 0 | 0 | 24,523 | |||||||||||||
Total assets at fair value | $ | 24,523 | $ | 37,987 | $ | 0 | $ | 62,510 | |||||||||
The above table excludes $15.8 million of cash held in banks. | |||||||||||||||||
December 31, 2014 | |||||||||||||||||
Fair value measurements using | |||||||||||||||||
Quoted Prices in | Significant | Significant | Total | ||||||||||||||
Active Markets | Other | Unobservable | |||||||||||||||
for Identical | Observable | Inputs | |||||||||||||||
Assets | Inputs | (Level 3) | |||||||||||||||
(Level 1) | (Level 2) | ||||||||||||||||
(In thousands) | |||||||||||||||||
Assets: | |||||||||||||||||
U.S. Treasury securities | $ | 0 | $ | 42,981 | $ | 0 | $ | 42,981 | |||||||||
Money market accounts | 11,524 | 0 | 0 | 11,524 | |||||||||||||
Total assets at fair value | $ | 11,524 | $ | 42,981 | $ | 0 | $ | 54,505 | |||||||||
The above table excludes $2.9 million of cash held in banks. | |||||||||||||||||
U.S. Treasury securities are classified as short-term investments, and money market accounts are classified as cash equivalents on the Company’s condensed consolidated balance sheets. | |||||||||||||||||
Short-term Investments | |||||||||||||||||
March 31, 2015 | |||||||||||||||||
Amortized | Gross | Gross | Fair | ||||||||||||||
Cost | Unrealized | Unrealized | Value | ||||||||||||||
Holding | Holding | ||||||||||||||||
Gains | Losses | ||||||||||||||||
(In thousands) | |||||||||||||||||
U.S. Treasury securities | $ | 37,985 | $ | 2 | $ | 0 | $ | 37,987 | |||||||||
Total | $ | 37,985 | $ | 2 | $ | 0 | $ | 37,987 | |||||||||
December 31, 2014 | |||||||||||||||||
Amortized | Gross | Gross | Fair | ||||||||||||||
Cost | Unrealized | Unrealized | Value | ||||||||||||||
Holding | Holding | ||||||||||||||||
Gains | Losses | ||||||||||||||||
(In thousands) | |||||||||||||||||
U.S. Treasury securities | $ | 42,980 | $ | 1 | $ | 0 | $ | 42,981 | |||||||||
Total | $ | 42,980 | $ | 1 | $ | 0 | $ | 42,981 | |||||||||
The contractual maturities of the Company’s available-for-sale securities on March 31, 2015 and December 31, 2014 were all due within one year. There were no transfers of instruments between Level 1 and 2 during the three months ended March 31, 2015 and the year ended December 31, 2014. |
Accounts_and_Other_Receivables
Accounts and Other Receivables | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Receivables [Abstract] | |||||||||
Accounts and Other Receivables | 3 | ACCOUNTS AND OTHER RECEIVABLES | |||||||
March 31, | December 31, | ||||||||
2015 | 2014 | ||||||||
(In thousands) | |||||||||
Trade accounts receivable | $ | 1,530 | $ | 2,708 | |||||
Receivables from vendors and other | 372 | 313 | |||||||
Accounts and other receivables | $ | 1,902 | $ | 3,021 | |||||
Property_and_Equipment
Property and Equipment | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Property, Plant and Equipment [Abstract] | |||||||||
Property and Equipment | 4 | PROPERTY AND EQUIPMENT | |||||||
March 31, | December 31, | ||||||||
2015 | 2014 | ||||||||
(In thousands) | |||||||||
Computer equipment and purchased software | $ | 3,487 | $ | 3,418 | |||||
Machinery and equipment | 865 | 688 | |||||||
Furniture and fixtures | 1,065 | 852 | |||||||
Leasehold improvements | 2,523 | 1,295 | |||||||
Total | 7,940 | 6,253 | |||||||
Less accumulated depreciation | (5,359 | ) | (5,046 | ) | |||||
Property and equipment, net | $ | 2,581 | $ | 1,207 | |||||
Intangibles_and_Other_Assets
Intangibles and Other Assets | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Text Block [Abstract] | |||||||||
Intangibles and Other Assets | 5 | INTANGIBLES AND OTHER ASSETS | |||||||
March 31, | December 31, | ||||||||
2015 | 2014 | ||||||||
(In thousands) | |||||||||
Purchased patents and other purchased intangible assets | $ | 4,605 | $ | 4,605 | |||||
Other assets | 264 | 265 | |||||||
Gross intangibles and other assets | 4,869 | 4,870 | |||||||
Accumulated amortization of purchased patents and other purchased intangibles | (4,591 | ) | (4,579 | ) | |||||
Intangibles and other assets, net | $ | 278 | $ | 291 | |||||
The Company amortizes its intangible assets related to purchased patents, over their estimated useful lives, generally 10 years from the purchase date. Amortization of intangibles was as follows: | |||||||||
Three Months Ended | |||||||||
March 31, | |||||||||
2015 | 2014 | ||||||||
(In thousands) | |||||||||
Amortization of intangibles | $ | 12 | $ | 20 | |||||
The table below includes estimated remaining annual amortization expense for purchased patents as of March 31, 2015. | |||||||||
Estimated | |||||||||
Amortization | |||||||||
Expense | |||||||||
(In thousands) | |||||||||
Remainder of 2015 | $ | 8 | |||||||
2016 | 6 | ||||||||
Total | $ | 14 | |||||||
Components_of_Other_Current_Li
Components of Other Current Liabilities | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Text Block [Abstract] | |||||||||
Components of Other Current Liabilities | 6 | COMPONENTS OF OTHER CURRENT LIABILITIES | |||||||
March 31, | December 31, | ||||||||
2015 | 2014 | ||||||||
(In thousands) | |||||||||
Accrued legal | $ | 1,992 | $ | 1,065 | |||||
Accrued services | 1,128 | 518 | |||||||
Income taxes payable | 47 | 69 | |||||||
Other current liabilities | 611 | 573 | |||||||
Total other current liabilities | $ | 3,778 | $ | 2,225 | |||||
Longterm_Deferred_Revenue
Long-term Deferred Revenue | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Deferred Revenue Disclosure [Abstract] | |||||||||
Long-term Deferred Revenue | 7 | LONG-TERM DEFERRED REVENUE | |||||||
Long-term deferred revenue consisted of the following: | |||||||||
March 31, | December 31, | ||||||||
2015 | 2014 | ||||||||
(In thousands) | |||||||||
Deferred revenue for Sony Computer Entertainment | $ | 5,604 | $ | 7,051 | |||||
Other deferred revenue | 709 | 776 | |||||||
Long-term deferred revenue | $ | 6,313 | $ | 7,827 | |||||
Deferred revenue for Sony Computer Entertainment represents deferred license revenue where payments have been received in advance of revenue recognition. | |||||||||
Stockbased_Compensation
Stock-based Compensation | 3 Months Ended | ||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |||||||||||||||||
Stock-based Compensation | 8 | STOCK-BASED COMPENSATION | |||||||||||||||
Stock Options and Awards | |||||||||||||||||
The Company’s equity incentive program is a long-term retention program that is intended to attract, retain, and provide incentives for talented employees, consultants, officers, and directors and to align stockholder and employee interests. The Company may grant time based options, market condition based options, stock appreciation rights, restricted stock, restricted stock units (“RSUs”), performance shares, performance units, and other stock-based or cash-based awards to employees, officers, directors, and consultants. Under this program, stock options may be granted at prices not less than the fair market value on the date of grant for stock options. These options generally vest over four years and expire from five to ten years from the date of grant. In addition to time based vesting, market condition based options are subject to a market condition: the closing price of the Company stock must exceed a certain level for a number of trading days within a specified timeframe or the options will be cancelled before the expiration of the options. Restricted stock generally vests over one year. RSUs generally vest over three years. Awards granted other than an option or stock appreciation right reduce the common stock shares available for grant under the program by 1.75 shares for each share issued. | |||||||||||||||||
March 31, | |||||||||||||||||
2015 | |||||||||||||||||
Common stock shares available for grant | 1,440,213 | ||||||||||||||||
Common stock options outstanding | 3,875,153 | ||||||||||||||||
Restricted stock awards outstanding | 35,364 | ||||||||||||||||
Restricted stock units outstanding | 565,148 | ||||||||||||||||
Employee Stock Purchase Plan | |||||||||||||||||
The Company has an Employee Stock Purchase Plan (“ESPP”). Under the ESPP, eligible employees may purchase common stock through payroll deductions at a purchase price of 85% of the lower of the fair market value of the Company’s stock at the beginning of the offering period or the purchase date. Participants may not purchase more than 2,000 shares in a six-month offering period or purchase stock having a value greater than $25,000 in any calendar year as measured at the beginning of the offering period. A total of 1,000,000 shares of common stock have been reserved for issuance under the ESPP. As of March 31, 2015, 581,451 shares had been purchased since the inception of the ESPP in 1999. Under ASC 718-10, the ESPP is considered a compensatory plan and the Company is required to recognize compensation cost related to the fair value of the award purchased under the ESPP. Shares purchased under the ESPP for the three months ended March 31, 2015 are listed below. Shares purchased under the ESPP for the three months ended March 31, 2014 are 17,670. The intrinsic value listed below is calculated as the difference between the market value on the date of purchase and the purchase price of the shares. | |||||||||||||||||
Three Months | |||||||||||||||||
Ended | |||||||||||||||||
March 31, | |||||||||||||||||
2015 | |||||||||||||||||
Shares purchased under ESPP | 23,713 | ||||||||||||||||
Average price of shares purchased under ESPP | $ | 8 | |||||||||||||||
Intrinsic value of shares purchased under ESPP | $ | 33,000 | |||||||||||||||
Summary of Standard Stock Options | |||||||||||||||||
The following table sets forth the summary of standard option activity under the Company’s stock option plans for the three months ended March 31, 2015 and year ended December 31, 2014: | |||||||||||||||||
Three Months | Year | ||||||||||||||||
Ended | Ended | ||||||||||||||||
March 31, | December 31, | ||||||||||||||||
2015 | 2014 | ||||||||||||||||
Beginning outstanding balance | 3,486,157 | 3,227,167 | |||||||||||||||
Granted | 260,175 | 604,620 | |||||||||||||||
Exercised | (10,862 | ) | (205,744 | ) | |||||||||||||
Forfeited | (60,317 | ) | (102,454 | ) | |||||||||||||
Expired | 0 | (37,432 | ) | ||||||||||||||
Ending outstanding balance | 3,675,153 | 3,486,157 | |||||||||||||||
Aggregate intrinsic value of options exercised | $ | 30,000 | $ | 1,125,000 | |||||||||||||
Weighted average fair value of options granted | 3.84 | 4.93 | |||||||||||||||
The aggregate intrinsic value is calculated as the difference between the exercise price of the underlying awards and the quoted price of the Company’s common stock for the options that were in-the-money. | |||||||||||||||||
Information regarding these standard stock options outstanding at March 31, 2015 and December 31, 2014 is summarized below: | |||||||||||||||||
Number of | Weighted | Weighted | Aggregate | ||||||||||||||
Shares | Average | Average | Intrinsic | ||||||||||||||
Exercise | Remaining | Value | |||||||||||||||
Price | Contractual | (In millions) | |||||||||||||||
Life (years) | |||||||||||||||||
December 31, 2014 | |||||||||||||||||
Options outstanding | 3,486,157 | $ | 8.3 | 4.85 | $ | 6.6 | |||||||||||
Options vested and expected to vest using estimated forfeiture rates | 3,319,308 | 8.21 | 4.8 | 6.6 | |||||||||||||
Options exercisable | 2,023,024 | 7.18 | 4.26 | 6 | |||||||||||||
March 31, 2015 | |||||||||||||||||
Options outstanding | 3,675,153 | $ | 8.21 | 4.68 | $ | 6.3 | |||||||||||
Options vested and expected to vest using estimated forfeiture rates | 3,529,945 | 8.16 | 4.62 | 6.2 | |||||||||||||
Options exercisable | 2,270,159 | 7.5 | 4.02 | 5.6 | |||||||||||||
Summary of Market Condition Based Stock Options | |||||||||||||||||
The following table sets forth the summary of the market-based option activity under the Company’s stock option plans for the three months ended March 31, 2015 and year ended December 31, 2014: | |||||||||||||||||
Three Months | Year | ||||||||||||||||
Ended | Ended | ||||||||||||||||
March 31, | December 31, | ||||||||||||||||
2015 | 2014 | ||||||||||||||||
Beginning outstanding balance | 50,000 | 0 | |||||||||||||||
Granted | 150,000 | 50,000 | |||||||||||||||
Exercised | 0 | 0 | |||||||||||||||
Forfeited and cancelled | 0 | 0 | |||||||||||||||
Ending outstanding balance | 200,000 | 50,000 | |||||||||||||||
Aggregate intrinsic value of options exercised | $ | 0 | $ | 0 | |||||||||||||
Weighted average fair value of options granted | 3.64 | 5.71 | |||||||||||||||
The aggregate intrinsic value is calculated as the difference between the exercise price of the underlying awards and the quoted price of the Company’s common stock for the options that were in-the-money. | |||||||||||||||||
Information regarding these market condition based stock options outstanding at March 31, 2015 and December 31, 2014 is summarized below: | |||||||||||||||||
Number of | Weighted | Weighted | Aggregate | ||||||||||||||
Shares | Average | Average | Intrinsic | ||||||||||||||
Exercise | Remaining | Value | |||||||||||||||
Price | Contractual | (In millions) | |||||||||||||||
Life (years) | |||||||||||||||||
December 31, 2014 | |||||||||||||||||
Options outstanding | 50,000 | $ | 11.94 | 6.15 | $ | 0 | |||||||||||
Options vested and expected to vestusing estimated forfeiture rates | 45,430 | 11.94 | 6.15 | 0 | |||||||||||||
Options exercisable | 0 | 0 | 0 | 0 | |||||||||||||
March 31, 2015 | |||||||||||||||||
Options outstanding | 200,000 | $ | 9.05 | 6.67 | $ | 0.2 | |||||||||||
Options vested and expected to vestusing estimated forfeiture rates | 130,330 | 9.26 | 6.61 | 0.1 | |||||||||||||
Options exercisable | 0 | 0 | 0 | 0 | |||||||||||||
Summary of Restricted Stock Units | |||||||||||||||||
RSU activity for the three months ended March 31, 2015 and year ended December 31, 2014 was as follows: | |||||||||||||||||
Three Months | Year | ||||||||||||||||
Ended | Ended | ||||||||||||||||
March 31, | December 31, | ||||||||||||||||
2015 | 2014 | ||||||||||||||||
Beginning outstanding balance | 564,891 | 668,056 | |||||||||||||||
Awarded | 273,290 | 265,630 | |||||||||||||||
Released | (261,168 | ) | (317,970 | ) | |||||||||||||
Forfeited | (11,865 | ) | (50,825 | ) | |||||||||||||
Ending outstanding balance | 565,148 | 564,891 | |||||||||||||||
Weighted average grant date fair value of RSUs granted | $ | 8.09 | $ | 11.35 | |||||||||||||
Total fair value of RSUs released | 2,185,000 | 3,491,000 | |||||||||||||||
Information regarding RSUs outstanding at March 31, 2015 and December 31, 2014 is summarized below: | |||||||||||||||||
Number of | Weighted | Aggregate | |||||||||||||||
Shares | Average | Intrinsic | |||||||||||||||
Remaining | Value | ||||||||||||||||
Contractual | (In millions) | ||||||||||||||||
Life (years) | |||||||||||||||||
December 31, 2014 | |||||||||||||||||
RSUs outstanding | 564,891 | 0.84 | $ | 5.3 | |||||||||||||
RSUs vested and expected to vestusing estimated forfeiture rates | 502,411 | 0.8 | 4.8 | ||||||||||||||
March 31, 2015 | |||||||||||||||||
RSUs outstanding | 565,148 | 1.54 | $ | 5.2 | |||||||||||||
RSUs vested and expected to vestusing estimated forfeiture rates | 437,437 | 1.48 | 4 | ||||||||||||||
Summary of Restricted Stock Awards | |||||||||||||||||
Restricted stock award activity for the three months ended March 31, 2015 and year ended December 31, 2014 was as follows: | |||||||||||||||||
Three Months | Year | ||||||||||||||||
Ended | Ended | ||||||||||||||||
March 31, | December 31, | ||||||||||||||||
2015 | 2014 | ||||||||||||||||
Beginning outstanding balance | 35,364 | 44,000 | |||||||||||||||
Awarded | 0 | 35,364 | |||||||||||||||
Released | 0 | (44,000 | ) | ||||||||||||||
Forfeited | 0 | 0 | |||||||||||||||
Ending outstanding balance | 35,364 | 35,364 | |||||||||||||||
Weighted average grant date fair value of restricted stock awarded | $ | 0 | $ | 10.97 | |||||||||||||
Total fair value of restricted stock awards released | 0 | 483,000 | |||||||||||||||
Stock Plan Assumptions | |||||||||||||||||
The assumptions used to value option grants under the Company’s stock plans were as follows: | |||||||||||||||||
Three Months Ended | |||||||||||||||||
March 31, | |||||||||||||||||
2015 | 2014 | ||||||||||||||||
Standard Stock Options | |||||||||||||||||
Expected life (in years) | 4.7 | 4.7 | |||||||||||||||
Volatility | 56 | % | 57 | % | |||||||||||||
Interest rate | 1.4 | % | 1.4 | % | |||||||||||||
Dividend yield | N/A | N/A | |||||||||||||||
Three Months Ended | |||||||||||||||||
March 31, | |||||||||||||||||
2015 | 2014 | ||||||||||||||||
Market Condition Based Stock Options | |||||||||||||||||
Expected life (in years) | 7 | 7 | |||||||||||||||
Volatility | 65 | % | 66 | % | |||||||||||||
Interest rate | 1.9 | % | 2.2 | % | |||||||||||||
Dividend yield | N/A | N/A | |||||||||||||||
Three Months Ended | |||||||||||||||||
March 31, | |||||||||||||||||
2015 | 2014 | ||||||||||||||||
Employee Stock Purchase Plan | |||||||||||||||||
Expected life (in years) | 0.5 | 0.5 | |||||||||||||||
Volatility | 45 | % | 39 | % | |||||||||||||
Interest rate | 0.1 | % | 0.1 | % | |||||||||||||
Dividend yield | N/A | N/A | |||||||||||||||
Compensation Costs | |||||||||||||||||
Total stock-based compensation recognized in the condensed consolidated statements of operations and comprehensive income (loss) is as follows: | |||||||||||||||||
Three Months Ended | |||||||||||||||||
March 31, | |||||||||||||||||
2015 | 2014 | ||||||||||||||||
(In thousands) | |||||||||||||||||
Statement of Operations Classifications | |||||||||||||||||
Sales and marketing | $ | 264 | $ | 230 | |||||||||||||
Research and development | 496 | 475 | |||||||||||||||
General and administrative | 980 | 878 | |||||||||||||||
Total | $ | 1,740 | $ | 1,583 | |||||||||||||
As of March 31, 2015, there was $9.2 million related to stock options, restricted stock awards, and RSUs of unrecognized compensation cost, adjusted for estimated forfeitures, granted to the Company’s employees and directors. This cost will be recognized over an estimated weighted-average period of approximately 2.98 years for standard options, 3.67 years for market condition based options, 2.23 years for RSUs, and 0.18 years for restricted stock awards. Total unrecognized compensation cost will be adjusted for future changes in estimated forfeitures. |
Stockholders_Equity
Stockholders' Equity | 3 Months Ended | ||||||||||||
Mar. 31, 2015 | |||||||||||||
Equity [Abstract] | |||||||||||||
Stockholders' Equity | 9 | STOCKHOLDERS’ EQUITY | |||||||||||
Comprehensive Income (Loss) | |||||||||||||
The changes in accumulated other comprehensive income (loss) are included in the table below. | |||||||||||||
Three Months Ended March 31, 2015 | |||||||||||||
Unrealized Gains | Foreign | Total | |||||||||||
and Losses on | Currency | ||||||||||||
Available-for Sale | Items | ||||||||||||
Securities | |||||||||||||
(In thousands) | |||||||||||||
Beginning balance | $ | 1 | $ | 101 | $ | 102 | |||||||
Other comprehensive income (loss) before reclassifications | 1 | 0 | 1 | ||||||||||
Amounts reclassified from accumulated other comprehensive income (loss) | 0 | 0 | 0 | ||||||||||
Net current period other comprehensive income (loss) | 1 | 0 | 1 | ||||||||||
Ending Balance | $ | 2 | $ | 101 | $ | 103 | |||||||
Stock Repurchase Program | |||||||||||||
On November 1, 2007, the Company announced its Board of Directors’ authorized the repurchase of up to $50 million of the Company’s common stock (“Stock Repurchase Program”). In addition, on October 22, 2014, our board of directors authorized another $30 million under the share repurchase program. The Company may repurchase its stock for cash in the open market in accordance with applicable securities laws. The timing of and amount of any stock repurchase will depend on share price, corporate and regulatory requirements, economic and market conditions, and other factors. The stock repurchase authorization has no expiration date, does not require the Company to repurchase a specific number of shares, and may be modified, suspended, or discontinued at any time. | |||||||||||||
There were no stock repurchases during the three months ended March 31, 2015. During the three months ended March 31, 2014, the Company repurchased 605,419 shares for $6.9 million at an average cost of $11.20, net of transaction costs, through open market repurchases. These amounts are classified as treasury stock on the Company’s condensed consolidated balance sheet. As of March 31, 2015, the program remains available with approximately $34.4 million that may yet be purchased under it. |
Income_Taxes
Income Taxes | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Income Tax Disclosure [Abstract] | |||||||||
Income Taxes | 10 | INCOME TAXES | |||||||
Income tax provisions consisted of the following: | |||||||||
Three Months Ended | |||||||||
March 31, | |||||||||
2015 | 2014 | ||||||||
(In thousands) | |||||||||
Income (loss) before provision for income taxes | $ | (95 | ) | $ | 2,947 | ||||
Benefit (provision) for income taxes | 36 | (1,083 | ) | ||||||
Effective tax rate | 37.9 | % | 36.7 | % | |||||
The benefit (provision) for income tax for the three months ended March 31, 2015 and 2014 resulted primarily from the Company’s federal and foreign tax recognized at statutory rates, adjusted for the tax impact of nondeductible permanent items including stock-based compensation and foreign withholding taxes. | |||||||||
As of March 31, 2015, the Company had unrecognized tax benefits under ASC 740 “Income Taxes”, of approximately $1.8 million including interest of $75,000. The total amount of unrecognized tax benefits that would affect the Company’s effective tax rate, if recognized, was $275,000. There were no material changes in the amount of unrecognized tax benefits during the three months ended March 31, 2015. The Company expects to release reserves and record a tax benefit due to the expiration of applicable statutes of limitations during the next twelve months. The Company’s policy is to account for interest and penalties related to uncertain tax positions as a component of income tax provision. | |||||||||
Net deferred income taxes were $34.9 million as of March 31, 2015, consisting primarily of federal net operating loss carryforwards and timing differences between book and tax. Because the Company had net operating loss and credit carryforwards, there are open statutes of limitations in which federal, state, and foreign taxing authorities may examine the Company’s tax returns for all years from 1998 through the current period. | |||||||||
The Company maintains a valuation allowance of $7.5 million against certain of its deferred tax assets, including state and certain foreign deferred tax assets. The Company has determined there is not sufficient evidence to support the release of the valuation allowance against these state and foreign deferred tax assets. |
Net_Income_Loss_Per_Share
Net Income (Loss) Per Share | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Earnings Per Share [Abstract] | |||||||||
Net Income (Loss) Per Share | 11 | NET INCOME (LOSS) PER SHARE | |||||||
Basic net income (loss) per share is computed using the weighted average number of common shares outstanding for the period, excluding unvested restricted stock and RSUs. Diluted net income per share is based upon the weighted average common shares outstanding for the period plus dilutive potential shares including unvested restricted stock, RSUs, and stock options using the treasury stock method. The following is a reconciliation of the numerators and denominators used in computing basic and diluted net income (loss) per share: | |||||||||
Three Months Ended | |||||||||
March 31, | |||||||||
2015 | 2014 | ||||||||
(in thousands except | |||||||||
per share amounts) | |||||||||
Numerator: | |||||||||
Net income (loss) | $ | (59 | ) | $ | 1,864 | ||||
Denominator: | |||||||||
Shares used in computation of basic net income (loss) per share (weighted average common shares outstanding) | 27,818 | 28,370 | |||||||
Dilutive potential common shares: | |||||||||
Restricted Stock and RSUs | 0 | 316 | |||||||
Stock options | 0 | 696 | |||||||
Shares used in computation of diluted net income (loss) per share | 27,818 | 29,382 | |||||||
Basic net income (loss) per share | $ | 0 | $ | 0.07 | |||||
Diluted net income (loss) per share | $ | 0 | $ | 0.06 | |||||
As of March 31, 2015, the Company had securities outstanding that could potentially dilute basic earnings per share in the future, but these were excluded from the computation of diluted net loss per share for the three months ended March 31, 2015, since their effect would have been anti-dilutive. These outstanding securities consisted of the following: | |||||||||
March 31, | |||||||||
2015 | |||||||||
Outstanding stock options | 3,875,153 | ||||||||
Unvested RSUs | 565,148 | ||||||||
For the three months ended March 31, 2014, options to purchase approximately 1.4 million shares of common stock with exercise prices greater than the average fair market value of the Company’s stock of $11.21 per share were not included in the calculation because the effect would have been anti-dilutive. | |||||||||
Contingencies
Contingencies | 3 Months Ended | |
Mar. 31, 2015 | ||
Commitments and Contingencies Disclosure [Abstract] | ||
Contingencies | 12 | CONTINGENCIES |
From time to time, the Company receives claims from third parties asserting that the Company’s technologies, or those of its licensees, infringe on the other parties’ IP rights. Management believes that these claims are without merit. Additionally, periodically, the Company is involved in routine legal matters and contractual disputes incidental to its normal operations. In management’s opinion, the resolution of such matters will not have a material adverse effect on the Company’s condensed consolidated financial condition, results of operations, or liquidity. | ||
In the normal course of business, the Company provides indemnifications of varying scope to customers against claims of IP infringement made by third parties arising from the use of the Company’s IP, technology, or products. Historically, costs related to these guarantees have not been significant, and the Company is unable to estimate the maximum potential impact of these guarantees on its future results of operations. |
Significant_Accounting_Policie1
Significant Accounting Policies (Policies) | 3 Months Ended | |||
Mar. 31, 2015 | ||||
Accounting Policies [Abstract] | ||||
Description of Business | Description of Business | |||
Immersion Corporation (the “Company”) was incorporated in 1993 in California and reincorporated in Delaware in 1999. It is an intellectual property (“IP”) and software licensing company focused on the creation, design, development, and licensing of patented haptic innovations and software that allow people to use their sense of touch more fully when operating a wide variety of digital devices. | ||||
Principles of Consolidation and Basis of Presentation | Principles of Consolidation and Basis of Presentation | |||
The condensed consolidated financial statements include the accounts of Immersion Corporation and its wholly-owned subsidiaries: Immersion Canada Inc.; Immersion International, LLC; Immersion Medical, Inc.; Immersion Japan K.K.; Immersion Ltd.; Immersion Software Ireland Ltd.; Haptify, Inc.; Immersion (Shanghai) Science & Technology Company, Ltd.; and Immersion Technology International. All intercompany accounts, transactions, and balances have been eliminated in consolidation. | ||||
The accompanying condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and with the instructions for Form 10-Q and Article 10 of Regulation S-X and, therefore, do not include all information and footnotes necessary for a complete presentation of the financial position, results of operations, and cash flows, in conformity with GAAP. These condensed consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements included in the Company’s Annual Report on Form 10-K, for the fiscal year ended December 31, 2014. In the opinion of management, all adjustments consisting of only normal and recurring items necessary for the fair presentation of the financial position and results of operations for the interim periods presented have been included. | ||||
The results of operations for the three months ended March 31, 2015 are not necessarily indicative of the results to be expected for the full year. | ||||
Segment Information | Segment Information | |||
The Company develops, licenses, and supports a wide range of software and IP that more fully engage users’ sense of touch when operating digital devices. The Company focuses on the following target application areas: mobility and consumer electronics, automotive, gaming, commercial and industrial, and medical. The Company’s chief operating decision maker (“CODM”) is the Chief Executive Officer. The CODM allocates resources to and assesses the performance of the Company using information about its financial results as one operating and reporting segment. | ||||
Revenue Recognition | Revenue Recognition | |||
The Company recognizes revenues in accordance with applicable accounting standards, including ASC 605-10-S99, “Revenue Recognition” (“ASC 605-10-S99”); ASC 605-25, “Multiple Element Arrangements” (“ASC 605-25”); and ASC 985-605, “Software-Revenue Recognition” (“ASC 985-605”). The Company derives its revenues from two principal sources: royalty and license fees, and development contract and service fees. As described below, management judgments, assumptions, and estimates must be made and used in connection with the revenue recognized in any accounting period. Material differences may result in the amount and timing of revenue for any period based on the judgments and estimates made by management. Specifically, in connection with each transaction, the Company must evaluate whether: (i) persuasive evidence of an arrangement exists, (ii) delivery has occurred, (iii) the fee is fixed or determinable, and (iv) collectibility is probable. The Company applies these criteria as discussed below. | ||||
• | Persuasive evidence of an arrangement exists. For a license arrangement, the Company requires a written contract, signed by both the customer and the Company. | |||
• | Delivery has occurred. The Company delivers software to customers physically and also delivers software electronically. For electronic deliveries, delivery occurs when the Company provides the customer access codes or “keys” that allow the customer to take immediate possession of the software. | |||
• | The fee is fixed or determinable. The Company’s arrangement fee is based on the use of standard payment terms, which are those that are generally extended to the majority of customers. For transactions involving extended payment terms, the Company deems these fees not to be fixed or determinable for revenue recognition purposes and revenue is deferred until the fees become due and payable. | |||
• | Collectibility is probable. To recognize revenue, the Company must judge collectibility of fees, which is done on a customer-by-customer basis pursuant to the Company’s credit review policy. The Company typically sells to customers with whom there is a history of successful collection. For new customers, the Company evaluates the customer’s financial condition and ability to pay. If it is determined that collectibility is not probable based upon the credit review process or the customer’s payment history, revenue is recognized when payment is received. | |||
Royalty and license revenue — The Company licenses its patents and software to customers in a variety of industries such as mobility, gaming, automotive, and medical devices. Certain of these are variable fee arrangements where the royalties earned by the Company are based on unit or sales volumes of the respective licensees. The Company also enters into fixed license fee arrangements. The terms of the royalty agreements generally require licensees to give notification of royalties due to the Company within 30 – 45 days of the end of the quarter during which their related sales occur. As the Company is unable to reliably estimate the licensees’ sales in any given quarter to determine the royalties due to it, the Company recognizes royalty revenues based on royalties reported by licensees and when all revenue recognition criteria are met. Certain royalties are based upon customer shipments or revenues and could be subject to change and may result in out of period adjustments. The Company recognizes fixed license fee revenue for licenses when earned under the terms of the agreements, which is generally recognized on a straight-line basis over the expected term of the license. | ||||
Development, services, and other revenue — Development, services, and other revenue are composed of engineering services (engineering services and/or development contracts), and in limited cases, post contract customer support (“PCS”). Engineering services revenues are recognized under the proportional performance accounting method based on physical completion of the work to be performed or completed performance method. A provision for losses on contracts is made, if necessary, in the period in which the loss becomes probable and can be reasonably estimated. Revisions in estimates are reflected in the period in which the conditions become known. To date, such losses have not been significant. Revenue from PCS is typically recognized over the period of the ongoing obligation, which is generally consistent with the contractual term. | ||||
Multiple element arrangements — The Company enters into multiple element arrangements in which customers purchase time-based non-exclusive licenses that cannot be resold to others, which include a combination of software and/or IP licenses, engineering services, and in limited cases PCS. For arrangements that are software based and include software and engineering services, the services are generally not essential to the functionality of the software, and customers may purchase engineering services to facilitate the adoption of the Company’s technology, but they may also decide to use their own resources or appoint other engineering service organizations to perform these services. For arrangements that are in substance subscription arrangements, the entire arrangement fee is recognized ratably over the contract term, subject to any limitations related to extended payment terms. For arrangements involving upfront fees for services and royalties earned by the Company based on unit or sales volumes of the respective licensees, and the services are performed ratably over the arrangement or are front-end loaded, the upfront fees are recognized ratably over the contract term and royalties based on unit or sales volume are recognized when they become fixed and determinable. As the Company is unable to reliably estimate the licensees’ sales in any given quarter to determine the royalties due to it, the Company recognizes per unit or sales volume driven royalty revenues based on royalties reported by licensees and when all revenue recognition criteria are met. | ||||
Recent Accounting Pronouncements | Recent Accounting Pronouncements | |||
In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-09 “Revenue from Contracts with Customers: Topic 606” (“ASU 2014-09”) which will supersede the current revenue recognition requirements in Topic 605, Revenue Recognition, and most industry-specific guidance. The core principle of ASU 2014-09 is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. Further, the guidance requires improved disclosures to help users of financial statements better understand the nature, amount, timing, and uncertainty of revenue that is recognized. ASU 2014-09 is effective for reporting periods beginning after December 15, 2016, and permits companies to either apply the requirements retrospectively to all prior periods presented, or apply the requirements in the year of adoption, through a cumulative adjustment. The Company is required to adopt ASU 2014-09 as of January 1, 2017, and is in the process of determining the method of adoption and evaluating the impact on its consolidated financial statements. |
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 3 Months Ended | ||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||
Fair Value Disclosures [Abstract] | |||||||||||||||||
Schedule of Financial Instruments Measured at Fair Value on Recurring Basis | Financial instruments measured at fair value on a recurring basis as of March 31, 2015 and December 31, 2014 are classified based on the valuation technique in the table below: | ||||||||||||||||
March 31, 2015 | |||||||||||||||||
Fair value measurements using | |||||||||||||||||
Quoted Prices in | Significant | Significant | Total | ||||||||||||||
Active Markets | Other | Unobservable | |||||||||||||||
for Identical | Observable | Inputs | |||||||||||||||
Assets | Inputs | (Level 3) | |||||||||||||||
(Level 1) | (Level 2) | ||||||||||||||||
(In thousands) | |||||||||||||||||
Assets: | |||||||||||||||||
U.S. Treasury securities | $ | 0 | $ | 37,987 | $ | 0 | $ | 37,987 | |||||||||
Money market accounts | 24,523 | 0 | 0 | 24,523 | |||||||||||||
Total assets at fair value | $ | 24,523 | $ | 37,987 | $ | 0 | $ | 62,510 | |||||||||
The above table excludes $15.8 million of cash held in banks. | |||||||||||||||||
December 31, 2014 | |||||||||||||||||
Fair value measurements using | |||||||||||||||||
Quoted Prices in | Significant | Significant | Total | ||||||||||||||
Active Markets | Other | Unobservable | |||||||||||||||
for Identical | Observable | Inputs | |||||||||||||||
Assets | Inputs | (Level 3) | |||||||||||||||
(Level 1) | (Level 2) | ||||||||||||||||
(In thousands) | |||||||||||||||||
Assets: | |||||||||||||||||
U.S. Treasury securities | $ | 0 | $ | 42,981 | $ | 0 | $ | 42,981 | |||||||||
Money market accounts | 11,524 | 0 | 0 | 11,524 | |||||||||||||
Total assets at fair value | $ | 11,524 | $ | 42,981 | $ | 0 | $ | 54,505 | |||||||||
The above table excludes $2.9 million of cash held in banks. | |||||||||||||||||
Schedule of Short-Term Investments | Short-term Investments | ||||||||||||||||
March 31, 2015 | |||||||||||||||||
Amortized | Gross | Gross | Fair Value | ||||||||||||||
Cost | Unrealized | Unrealized | |||||||||||||||
Holding | Holding | ||||||||||||||||
Gains | Losses | ||||||||||||||||
(In thousands) | |||||||||||||||||
U.S. Treasury securities | $ | 37,985 | $ | 2 | $ | 0 | $ | 37,987 | |||||||||
Total | $ | 37,985 | $ | 2 | $ | 0 | $ | 37,987 | |||||||||
December 31, 2014 | |||||||||||||||||
Amortized | Gross | Gross | Fair Value | ||||||||||||||
Cost | Unrealized | Unrealized | |||||||||||||||
Holding | Holding | ||||||||||||||||
Gains | Losses | ||||||||||||||||
(In thousands) | |||||||||||||||||
U.S. Treasury securities | $ | 42,980 | $ | 1 | $ | 0 | $ | 42,981 | |||||||||
Total | $ | 42,980 | $ | 1 | $ | 0 | $ | 42,981 | |||||||||
Accounts_and_Other_Receivables1
Accounts and Other Receivables (Tables) | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Receivables [Abstract] | |||||||||
Schedule of Accounts and Other Receivables | |||||||||
March 31, | December 31, | ||||||||
2015 | 2014 | ||||||||
(In thousands) | |||||||||
Trade accounts receivable | $ | 1,530 | $ | 2,708 | |||||
Receivables from vendors and other | 372 | 313 | |||||||
Accounts and other receivables | $ | 1,902 | $ | 3,021 | |||||
Property_and_Equipment_Tables
Property and Equipment (Tables) | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Property, Plant and Equipment [Abstract] | |||||||||
Schedule of Property and Equipment | |||||||||
March 31, | December 31, | ||||||||
2015 | 2014 | ||||||||
(In thousands) | |||||||||
Computer equipment and purchased software | $ | 3,487 | $ | 3,418 | |||||
Machinery and equipment | 865 | 688 | |||||||
Furniture and fixtures | 1,065 | 852 | |||||||
Leasehold improvements | 2,523 | 1,295 | |||||||
Total | 7,940 | 6,253 | |||||||
Less accumulated depreciation | (5,359 | ) | (5,046 | ) | |||||
Property and equipment, net | $ | 2,581 | $ | 1,207 | |||||
Intangibles_and_Other_Assets_T
Intangibles and Other Assets (Tables) | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Text Block [Abstract] | |||||||||
Schedule of Intangibles and Other Assets | |||||||||
March 31, | December 31, | ||||||||
2015 | 2014 | ||||||||
(In thousands) | |||||||||
Purchased patents and other purchased intangible assets | $ | 4,605 | $ | 4,605 | |||||
Other assets | 264 | 265 | |||||||
Gross intangibles and other assets | 4,869 | 4,870 | |||||||
Accumulated amortization of purchased patents and other purchased intangibles | (4,591 | ) | (4,579 | ) | |||||
Intangibles and other assets, net | $ | 278 | $ | 291 | |||||
Schedule of Amortization of Intangibles | The Company amortizes its intangible assets related to purchased patents, over their estimated useful lives, generally 10 years from the purchase date. Amortization of intangibles was as follows: | ||||||||
Three Months Ended | |||||||||
March 31, | |||||||||
2015 | 2014 | ||||||||
(In thousands) | |||||||||
Amortization of intangibles | $ | 12 | $ | 20 | |||||
Schedule of Estimated Remaining Annual Amortization Expense for Purchased Patents | The table below includes estimated remaining annual amortization expense for purchased patents as of March 31, 2015. | ||||||||
Estimated | |||||||||
Amortization | |||||||||
Expense | |||||||||
(In thousands) | |||||||||
Remainder of 2015 | $ | 8 | |||||||
2016 | 6 | ||||||||
Total | $ | 14 | |||||||
Components_of_Other_Current_Li1
Components of Other Current Liabilities (Tables) | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Text Block [Abstract] | |||||||||
Components of Other Current Liabilities | |||||||||
March 31, | December 31, | ||||||||
2015 | 2014 | ||||||||
(In thousands) | |||||||||
Accrued legal | $ | 1,992 | $ | 1,065 | |||||
Accrued services | $ | 1,128 | $ | 518 | |||||
Income taxes payable | 47 | 69 | |||||||
Other current liabilities | 611 | 573 | |||||||
Total other current liabilities | $ | 3,778 | $ | 2,225 | |||||
Longterm_Deferred_Revenue_Tabl
Long-term Deferred Revenue (Tables) | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Deferred Revenue Disclosure [Abstract] | |||||||||
Schedule of Long-term Deferred Revenue | Long-term deferred revenue consisted of the following: | ||||||||
March 31, | December 31, | ||||||||
2015 | 2014 | ||||||||
(In thousands) | |||||||||
Deferred revenue for Sony Computer Entertainment | $ | 5,604 | $ | 7,051 | |||||
Other deferred revenue | 709 | 776 | |||||||
Long-term deferred revenue | $ | 6,313 | $ | 7,827 | |||||
Stockbased_Compensation_Tables
Stock-based Compensation (Tables) | 3 Months Ended | ||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |||||||||||||||||
Schedule of Stock Options and Awards | Awards granted other than an option or stock appreciation right reduce the common stock shares available for grant under the program by 1.75 shares for each share issued. | ||||||||||||||||
March 31, | |||||||||||||||||
2015 | |||||||||||||||||
Common stock shares available for grant | 1,440,213 | ||||||||||||||||
Common stock options outstanding | 3,875,153 | ||||||||||||||||
Restricted stock awards outstanding | 35,364 | ||||||||||||||||
Restricted stock units outstanding | 565,148 | ||||||||||||||||
Schedule of Employee Stock Purchase Plan | The intrinsic value listed below is calculated as the difference between the market value on the date of purchase and the purchase price of the shares. | ||||||||||||||||
Three Months | |||||||||||||||||
Ended | |||||||||||||||||
March 31, | |||||||||||||||||
2015 | |||||||||||||||||
Shares purchased under ESPP | 23,713 | ||||||||||||||||
Average price of shares purchased under ESPP | $ | 8 | |||||||||||||||
Intrinsic value of shares purchased under ESPP | $ | 33,000 | |||||||||||||||
Schedule of Standard and Market-based Stock Options Activity | The following table sets forth the summary of standard option activity under the Company’s stock option plans for the three months ended March 31, 2015 and year ended December 31, 2014: | ||||||||||||||||
Three Months | Year | ||||||||||||||||
Ended | Ended | ||||||||||||||||
March 31, | December 31, | ||||||||||||||||
2015 | 2014 | ||||||||||||||||
Beginning outstanding balance | 3,486,157 | 3,227,167 | |||||||||||||||
Granted | 260,175 | 604,620 | |||||||||||||||
Exercised | (10,862 | ) | (205,744 | ) | |||||||||||||
Forfeited | (60,317 | ) | (102,454 | ) | |||||||||||||
Expired | 0 | (37,432 | ) | ||||||||||||||
Ending outstanding balance | 3,675,153 | 3,486,157 | |||||||||||||||
Aggregate intrinsic value of options exercised | $ | 30,000 | $ | 1,125,000 | |||||||||||||
Weighted average fair value of options granted | 3.84 | 4.93 | |||||||||||||||
The following table sets forth the summary of the market-based option activity under the Company’s stock option plans for the three months ended March 31, 2015 and year ended December 31, 2014: | |||||||||||||||||
Three Months | Year | ||||||||||||||||
Ended | Ended | ||||||||||||||||
March 31, | December 31, | ||||||||||||||||
2015 | 2014 | ||||||||||||||||
Beginning outstanding balance | 50,000 | 0 | |||||||||||||||
Granted | 150,000 | 50,000 | |||||||||||||||
Exercised | 0 | 0 | |||||||||||||||
Forfeited and cancelled | 0 | 0 | |||||||||||||||
Ending outstanding balance | 200,000 | 50,000 | |||||||||||||||
Aggregate intrinsic value of options exercised | $ | 0 | $ | 0 | |||||||||||||
Weighted average fair value of options granted | 3.64 | 5.71 | |||||||||||||||
Schedule of Information Regarding Standard and Market Condition Based Stock Options Outstanding | Information regarding these standard stock options outstanding at March 31, 2015 and December 31, 2014 is summarized below: | ||||||||||||||||
Number of | Weighted | Weighted | Aggregate | ||||||||||||||
Shares | Average | Average | Intrinsic | ||||||||||||||
Exercise | Remaining | Value | |||||||||||||||
Price | Contractual | (In millions) | |||||||||||||||
Life (years) | |||||||||||||||||
December 31, 2014 | |||||||||||||||||
Options outstanding | 3,486,157 | $ | 8.3 | 4.85 | $ | 6.6 | |||||||||||
Options vested and expected to vest using estimated forfeiture rates | 3,319,308 | 8.21 | 4.8 | 6.6 | |||||||||||||
Options exercisable | 2,023,024 | 7.18 | 4.26 | 6 | |||||||||||||
March 31, 2015 | |||||||||||||||||
Options outstanding | 3,675,153 | $ | 8.21 | 4.68 | $ | 6.3 | |||||||||||
Options vested and expected to vest using estimated forfeiture rates | 3,529,945 | 8.16 | 4.62 | 6.2 | |||||||||||||
Options exercisable | 2,270,159 | 7.5 | 4.02 | 5.6 | |||||||||||||
Information regarding these market condition based stock options outstanding at March 31, 2015 and December 31, 2014 is summarized below: | |||||||||||||||||
Number of | Weighted | Weighted | Aggregate | ||||||||||||||
Shares | Average | Average | Intrinsic | ||||||||||||||
Exercise | Remaining | Value | |||||||||||||||
Price | Contractual | (In millions) | |||||||||||||||
Life (years) | |||||||||||||||||
December 31, 2014 | |||||||||||||||||
Options outstanding | 50,000 | $ | 11.94 | 6.15 | $ | 0 | |||||||||||
Options vested and expected to vestusing estimated forfeiture rates | 45,430 | 11.94 | 6.15 | 0 | |||||||||||||
Options exercisable | 0 | 0 | 0 | 0 | |||||||||||||
March 31, 2015 | |||||||||||||||||
Options outstanding | 200,000 | $ | 9.05 | 6.67 | $ | 0.2 | |||||||||||
Options vested and expected to vestusing estimated forfeiture rates | 130,330 | 9.26 | 6.61 | 0.1 | |||||||||||||
Options exercisable | 0 | 0 | 0 | 0 | |||||||||||||
Schedule of Restricted Stock Units Activity | RSU activity for the three months ended March 31, 2015 and year ended December 31, 2014 was as follows: | ||||||||||||||||
Three Months | Year | ||||||||||||||||
Ended | Ended | ||||||||||||||||
March 31, | December 31, | ||||||||||||||||
2015 | 2014 | ||||||||||||||||
Beginning outstanding balance | 564,891 | 668,056 | |||||||||||||||
Awarded | 273,290 | 265,630 | |||||||||||||||
Released | (261,168 | ) | (317,970 | ) | |||||||||||||
Forfeited | (11,865 | ) | (50,825 | ) | |||||||||||||
Ending outstanding balance | 565,148 | 564,891 | |||||||||||||||
Weighted average grant date fair value of RSUs granted | $ | 8.09 | $ | 11.35 | |||||||||||||
Total fair value of RSUs released | 2,185,000 | 3,491,000 | |||||||||||||||
Schedule of Information Regarding Restricted Stock Units Outstanding | Information regarding RSUs outstanding at March 31, 2015 and December 31, 2014 is summarized below: | ||||||||||||||||
Number of | Weighted | Aggregate | |||||||||||||||
Shares | Average | Intrinsic | |||||||||||||||
Remaining | Value | ||||||||||||||||
Contractual | (In millions) | ||||||||||||||||
Life (years) | |||||||||||||||||
December 31, 2014 | |||||||||||||||||
RSUs outstanding | 564,891 | 0.84 | $ | 5.3 | |||||||||||||
RSUs vested and expected to vestusing estimated forfeiture rates | 502,411 | 0.8 | 4.8 | ||||||||||||||
March 31, 2015 | |||||||||||||||||
RSUs outstanding | 565,148 | 1.54 | $ | 5.2 | |||||||||||||
RSUs vested and expected to vestusing estimated forfeiture rates | 437,437 | 1.48 | 4 | ||||||||||||||
Schedule of Restricted Stock Awards Activity | Restricted stock award activity for the three months ended March 31, 2015 and year ended December 31, 2014 was as follows: | ||||||||||||||||
Three Months | Year | ||||||||||||||||
Ended | Ended | ||||||||||||||||
March 31, | December 31, | ||||||||||||||||
2015 | 2014 | ||||||||||||||||
Beginning outstanding balance | 35,364 | 44,000 | |||||||||||||||
Awarded | 0 | 35,364 | |||||||||||||||
Released | 0 | (44,000 | ) | ||||||||||||||
Forfeited | 0 | 0 | |||||||||||||||
Ending outstanding balance | 35,364 | 35,364 | |||||||||||||||
Weighted average grant date fair value of restricted stock awarded | $ | 0 | $ | 10.97 | |||||||||||||
Total fair value of restricted stock awards released | 0 | 483,000 | |||||||||||||||
Schedule of Stock Options, Market Condition Based Stock Options and Employee Stock Purchase Plan, Valuation Assumptions | The assumptions used to value option grants under the Company’s stock plans were as follows: | ||||||||||||||||
Three Months Ended | |||||||||||||||||
March 31, | |||||||||||||||||
2015 | 2014 | ||||||||||||||||
Standard Stock Options | |||||||||||||||||
Expected life (in years) | 4.7 | 4.7 | |||||||||||||||
Volatility | 56 | % | 57 | % | |||||||||||||
Interest rate | 1.4 | % | 1.4 | % | |||||||||||||
Dividend yield | N/A | N/A | |||||||||||||||
Three Months Ended | |||||||||||||||||
March 31, | |||||||||||||||||
2015 | 2014 | ||||||||||||||||
Market Condition Based Stock Options | |||||||||||||||||
Expected life (in years) | 7 | 7 | |||||||||||||||
Volatility | 65 | % | 66 | % | |||||||||||||
Interest rate | 1.9 | % | 2.2 | % | |||||||||||||
Dividend yield | N/A | N/A | |||||||||||||||
Three Months Ended | |||||||||||||||||
March 31, | |||||||||||||||||
2015 | 2014 | ||||||||||||||||
Employee Stock Purchase Plan | |||||||||||||||||
Expected life (in years) | 0.5 | 0.5 | |||||||||||||||
Volatility | 45 | % | 39 | % | |||||||||||||
Interest rate | 0.1 | % | 0.1 | % | |||||||||||||
Dividend yield | N/A | N/A | |||||||||||||||
Schedule of Stock-Based Compensation | Total stock-based compensation recognized in the condensed consolidated statements of operations and comprehensive income (loss) is as follows: | ||||||||||||||||
Three Months Ended | |||||||||||||||||
March 31, | |||||||||||||||||
2015 | 2014 | ||||||||||||||||
(In thousands) | |||||||||||||||||
Statement of Operations Classifications | |||||||||||||||||
Sales and marketing | $ | 264 | $ | 230 | |||||||||||||
Research and development | 496 | 475 | |||||||||||||||
General and administrative | 980 | 878 | |||||||||||||||
Total | $ | 1,740 | $ | 1,583 | |||||||||||||
Stockholders_Equity_Tables
Stockholders' Equity (Tables) | 3 Months Ended | ||||||||||||
Mar. 31, 2015 | |||||||||||||
Equity [Abstract] | |||||||||||||
Changes in Accumulated Other Comprehensive Income (Loss) | The changes in accumulated other comprehensive income (loss) are included in the table below. | ||||||||||||
Three Months Ended March 31, 2015 | |||||||||||||
Unrealized Gains | Foreign | Total | |||||||||||
and Losses on | Currency | ||||||||||||
Available-for Sale | Items | ||||||||||||
Securities | |||||||||||||
(In thousands) | |||||||||||||
Beginning balance | $ | 1 | $ | 101 | $ | 102 | |||||||
Other comprehensive income (loss) before reclassifications | 1 | 0 | 1 | ||||||||||
Amounts reclassified from accumulated other comprehensive income (loss) | 0 | 0 | 0 | ||||||||||
Net current period other comprehensive income (loss) | 1 | 0 | 1 | ||||||||||
Ending Balance | $ | 2 | $ | 101 | $ | 103 | |||||||
Income_Taxes_Tables
Income Taxes (Tables) | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Income Tax Disclosure [Abstract] | |||||||||
Schedule of Income Tax Provisions | Income tax provisions consisted of the following: | ||||||||
Three Months Ended | |||||||||
March 31, | |||||||||
2015 | 2014 | ||||||||
(In thousands) | |||||||||
Income (loss) before provision for income taxes | $ | (95 | ) | $ | 2,947 | ||||
Benefit (provision) for income taxes | 36 | (1,083 | ) | ||||||
Effective tax rate | 37.9 | % | 36.7 | % |
Net_Income_Loss_Per_Share_Tabl
Net Income (Loss) Per Share (Tables) | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Earnings Per Share [Abstract] | |||||||||
Reconciliation used in Computing Basic and Diluted Net Income (Loss) per Share | The following is a reconciliation of the numerators and denominators used in computing basic and diluted net income (loss) per share: | ||||||||
Three Months Ended | |||||||||
March 31, | |||||||||
2015 | 2014 | ||||||||
(in thousands except | |||||||||
per share amounts) | |||||||||
Numerator: | |||||||||
Net income (loss) | $ | (59 | ) | $ | 1,864 | ||||
Denominator: | |||||||||
Shares used in computation of basic net income (loss) per share (weighted average common shares outstanding) | 27,818 | 28,370 | |||||||
Dilutive potential common shares: | |||||||||
Restricted Stock and RSUs | 0 | 316 | |||||||
Stock options | 0 | 696 | |||||||
Shares used in computation of diluted net income (loss) per share | 27,818 | 29,382 | |||||||
Basic net income (loss) per share | $ | 0 | $ | 0.07 | |||||
Diluted net income (loss) per share | $ | 0 | $ | 0.06 | |||||
Schedule of Outstanding Securities | These outstanding securities consisted of the following: | ||||||||
March 31, | |||||||||
2015 | |||||||||
Outstanding stock options | 3,875,153 | ||||||||
Unvested RSUs | 565,148 |
Significant_Accounting_Policie2
Significant Accounting Policies - Additional Information (Detail) | 3 Months Ended |
Mar. 31, 2015 | |
Segment | |
Accounting Policies [Abstract] | |
Number of operating and reporting segments | 1 |
Period of royalties notification, maximum | 45 days |
Period of royalties notification, minimum | 30 days |
Fair_Value_Measurements_Schedu
Fair Value Measurements - Schedule of Financial Instruments Measured at Fair Value on Recurring Basis (Detail) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value | $62,510 | $54,505 |
Short-term Investments [Member] | U.S. Treasury Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value | 37,987 | 42,981 |
Cash and Cash Equivalents [Member] | Money Market Accounts [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value | 24,523 | 11,524 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value | 24,523 | 11,524 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Short-term Investments [Member] | U.S. Treasury Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value | 0 | 0 |
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Cash and Cash Equivalents [Member] | Money Market Accounts [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value | 24,523 | 11,524 |
Significant Other Observable Inputs (Level 2) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value | 37,987 | 42,981 |
Significant Other Observable Inputs (Level 2) [Member] | Short-term Investments [Member] | U.S. Treasury Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value | 37,987 | 42,981 |
Significant Other Observable Inputs (Level 2) [Member] | Cash and Cash Equivalents [Member] | Money Market Accounts [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value | 0 | 0 |
Significant Unobservable Inputs (Level 3) [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value | 0 | 0 |
Significant Unobservable Inputs (Level 3) [Member] | Short-term Investments [Member] | U.S. Treasury Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value | 0 | 0 |
Significant Unobservable Inputs (Level 3) [Member] | Cash and Cash Equivalents [Member] | Money Market Accounts [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets at fair value | $0 | $0 |
Fair_Value_Measurements_Additi
Fair Value Measurements - Additional Information (Detail) (USD $) | 3 Months Ended | 12 Months Ended |
Mar. 31, 2015 | Dec. 31, 2014 | |
Fair Value Disclosures [Abstract] | ||
Cash held in banks | $15,800,000 | $2,900,000 |
Period for contractual maturities of the Company's available-for-sale securities | 1 year | 1 year |
Fair value assets, Level 1 to Level 2 | 0 | 0 |
Fair value assets, Level 2 to Level 1 | 0 | 0 |
Fair value liabilities, Level 1 to Level 2 | 0 | 0 |
Fair value liabilities, Level 2 to Level 1 | $0 | $0 |
Fair_Value_Measurements_Schedu1
Fair Value Measurements - Schedule of Short-Term Investments (Detail) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Short-term Investments, Amortized Cost | $37,985 | $42,980 |
Short-term Investments, Gross Unrealized Holding Gains | 2 | 1 |
Short-term Investments, Gross Unrealized Holding Losses | 0 | 0 |
Short-term Investments, Fair Value | 37,987 | 42,981 |
U.S. Treasury Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Short-term Investments, Amortized Cost | 37,985 | 42,980 |
Short-term Investments, Gross Unrealized Holding Gains | 2 | 1 |
Short-term Investments, Gross Unrealized Holding Losses | 0 | 0 |
Short-term Investments, Fair Value | $37,987 | $42,981 |
Accounts_and_Other_Receivables2
Accounts and Other Receivables - Schedule of Accounts and Other Receivables (Detail) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Receivables [Abstract] | ||
Trade accounts receivable | $1,530 | $2,708 |
Receivables from vendors and other | 372 | 313 |
Accounts and other receivables | $1,902 | $3,021 |
Property_and_Equipment_Schedul
Property and Equipment - Schedule of Property and Equipment (Detail) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Property, Plant and Equipment [Abstract] | ||
Computer equipment and purchased software | $3,487 | $3,418 |
Machinery and equipment | 865 | 688 |
Furniture and fixtures | 1,065 | 852 |
Leasehold improvements | 2,523 | 1,295 |
Total | 7,940 | 6,253 |
Less accumulated depreciation | -5,359 | -5,046 |
Property and equipment, net | $2,581 | $1,207 |
Intangibles_and_Other_Assets_S
Intangibles and Other Assets - Schedule of Intangibles and Other Assets (Detail) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Finite-Lived Intangible Assets [Line Items] | ||
Other assets | $264 | $265 |
Gross intangibles and other assets | 4,869 | 4,870 |
Intangibles and other assets, net | 278 | 291 |
Purchased Patents and Other Purchased Intangibles [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Purchased patents and other purchased intangible assets | 4,605 | 4,605 |
Accumulated amortization of purchased patents and other purchased intangibles | ($4,591) | ($4,579) |
Intangibles_and_Other_Assets_A
Intangibles and Other Assets - Additional Information (Detail) | 3 Months Ended |
Mar. 31, 2015 | |
Intangibles And Other Assets [Abstract] | |
Patents, estimated useful lives | 10 years |
Intangibles_and_Other_Assets_S1
Intangibles and Other Assets - Schedule of Amortization of Intangibles (Detail) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Intangibles And Other Assets [Abstract] | ||
Amortization of intangibles | $12 | $20 |
Intangibles_and_Other_Assets_S2
Intangibles and Other Assets - Schedule of Estimated Remaining Annual Amortization Expense for Purchased Patents (Detail) (USD $) | Mar. 31, 2015 |
In Thousands, unless otherwise specified | |
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract] | |
Remainder of 2015 | $8 |
2016 | 6 |
Total | $14 |
Components_of_Other_Current_Li2
Components of Other Current Liabilities - Components of Other Current Liabilities (Detail) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Other Liabilities, Current [Abstract] | ||
Accrued legal | $1,992 | $1,065 |
Accrued services | 1,128 | 518 |
Income taxes payable | 47 | 69 |
Other current liabilities | 611 | 573 |
Total other current liabilities | $3,778 | $2,225 |
Longterm_Deferred_Revenue_Sche
Long-term Deferred Revenue - Schedule of Long-term Deferred Revenue (Detail) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Deferred Revenue Disclosure [Abstract] | ||
Deferred revenue for Sony Computer Entertainment | $5,604 | $7,051 |
Other deferred revenue | 709 | 776 |
Long-term deferred revenue | $6,313 | $7,827 |
StockBased_Compensation_Additi
Stock-Based Compensation - Additional Information (Detail) (USD $) | 3 Months Ended | |
Mar. 31, 2015 | Mar. 31, 2014 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Number of options for every share issued | 1.75 | |
Percentage of fair market value on the purchase date | 85.00% | |
Maximum number of shares per employee | 2,000 | |
Employee stock purchase plan offering period | 6 months | |
Maximum value of shares per employee | $25,000 | |
Common stock reserved for issuance | 1,000,000 | |
Shares purchased by employee since inception of ESPP | 581,451 | |
Shares purchased under ESPP | 23,713 | 17,670 |
Unrecognized compensation cost | $9,200,000 | |
Market Condition Based Stock Options [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Unrecognized compensation cost, recognized over an estimated weighted-average period (years) | 3 years 8 months 1 day | |
Stock Options [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Stock-based payment award vesting period (years) | 4 years | |
Stock Options [Member] | Maximum [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Stock-based payment award expiration period (years) | 10 years | |
Stock Options [Member] | Minimum [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Stock-based payment award expiration period (years) | 5 years | |
Restricted Stock Awards [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Stock-based payment award vesting period (years) | 1 year | |
Unrecognized compensation cost, recognized over an estimated weighted-average period (years) | 2 months 5 days | |
Restricted Stock Units [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Stock-based payment award vesting period (years) | 3 years | |
Unrecognized compensation cost, recognized over an estimated weighted-average period (years) | 2 years 2 months 23 days | |
Standard Stock Options [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Unrecognized compensation cost, recognized over an estimated weighted-average period (years) | 2 years 11 months 23 days |
StockBased_Compensation_Schedu
Stock-Based Compensation - Schedule of Stock Options and Awards (Detail) | Mar. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Common stock shares available for grant | 1,440,213 | ||
Stock Options [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Common stock options outstanding | 3,875,153 | ||
Restricted Stock Awards [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Restricted stock awards and units outstanding | 35,364 | 35,364 | 44,000 |
Restricted Stock Units [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Restricted stock awards and units outstanding | 565,148 | 564,891 | 668,056 |
StockBased_Compensation_Schedu1
Stock-Based Compensation - Schedule of Employee Stock Purchase Plan (Detail) (USD $) | 3 Months Ended | |
Mar. 31, 2015 | Mar. 31, 2014 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ||
Shares purchased under ESPP | 23,713 | 17,670 |
Average price of shares purchased under ESPP | $8 | |
Intrinsic value of shares purchased under ESPP | $33,000 |
StockBased_Compensation_Schedu2
Stock-Based Compensation - Schedule of Standard and Market-based Stock Options Activity (Detail) (USD $) | 3 Months Ended | 12 Months Ended |
Mar. 31, 2015 | Dec. 31, 2014 | |
Standard Stock Options [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Beginning outstanding balance | 3,486,157 | 3,227,167 |
Granted | 260,175 | 604,620 |
Exercised | -10,862 | -205,744 |
Forfeited | -60,317 | -102,454 |
Expired | 0 | -37,432 |
Ending outstanding balance | 3,675,153 | 3,486,157 |
Aggregate intrinsic value of options exercised | $30,000 | $1,125,000 |
Weighted average fair value of options granted | $3.84 | $4.93 |
Market Condition Based Stock Options [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Beginning outstanding balance | 50,000 | 0 |
Granted | 150,000 | 50,000 |
Exercised | 0 | 0 |
Forfeited and cancelled | 0 | 0 |
Ending outstanding balance | 200,000 | 50,000 |
Aggregate intrinsic value of options exercised | $0 | $0 |
Weighted average fair value of options granted | $3.64 | $5.71 |
StockBased_Compensation_Schedu3
Stock-Based Compensation - Schedule of Information Regarding Standard and Market Condition Based Stock Options Outstanding (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |
In Millions, except Share data, unless otherwise specified | Mar. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 |
Standard Stock Options [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Options outstanding, Number of Shares | 3,675,153 | 3,486,157 | 3,227,167 |
Options vested and expected to vest using estimated forfeiture rates, Number of Shares | 3,529,945 | 3,319,308 | |
Options exercisable, Number of Shares | 2,270,159 | 2,023,024 | |
Options outstanding, Weighted Average Exercise Price | $8.21 | $8.30 | |
Options vested and expected to vest using estimated forfeiture rates, Weighted Average Exercise Price | $8.16 | $8.21 | |
Options exercisable, Weighted Average Exercise Price | $7.50 | $7.18 | |
Options outstanding, Weighted Average Remaining Contractual Life (years) | 4 years 8 months 5 days | 4 years 10 months 6 days | |
Options vested and expected to vest using estimated forfeiture rates, Weighted Average Remaining Contractual Life (years) | 4 years 7 months 13 days | 4 years 9 months 18 days | |
Options exercisable, Weighted Average Remaining Contractual Life (years) | 4 years 7 days | 4 years 3 months 4 days | |
Options outstanding, Aggregate Intrinsic Value | $6.30 | $6.60 | |
Options vested and expected to vest using estimated forfeiture rates, Aggregate Intrinsic Value | 6.2 | 6.6 | |
Options exercisable, Aggregate Intrinsic Value | 5.6 | 6 | |
Market Condition Based Stock Options [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Options outstanding, Number of Shares | 200,000 | 50,000 | 0 |
Options vested and expected to vest using estimated forfeiture rates, Number of Shares | 130,330 | 45,430 | |
Options exercisable, Number of Shares | 0 | 0 | |
Options outstanding, Weighted Average Exercise Price | $9.05 | $11.94 | |
Options vested and expected to vest using estimated forfeiture rates, Weighted Average Exercise Price | $9.26 | $11.94 | |
Options exercisable, Weighted Average Exercise Price | $0 | $0 | |
Options outstanding, Weighted Average Remaining Contractual Life (years) | 6 years 8 months 1 day | 6 years 1 month 24 days | |
Options vested and expected to vest using estimated forfeiture rates, Weighted Average Remaining Contractual Life (years) | 6 years 7 months 10 days | 6 years 1 month 24 days | |
Options exercisable, Weighted Average Remaining Contractual Life (years) | 0 years | 0 years | |
Options outstanding, Aggregate Intrinsic Value | 0.2 | 0 | |
Options vested and expected to vest using estimated forfeiture rates, Aggregate Intrinsic Value | 0.1 | 0 | |
Options exercisable, Aggregate Intrinsic Value | $0 | $0 |
StockBased_Compensation_Schedu4
Stock-Based Compensation - Schedule of Restricted Stock Units Activity (Detail) (Restricted Stock Units [Member], USD $) | 3 Months Ended | 12 Months Ended |
Mar. 31, 2015 | Dec. 31, 2014 | |
Restricted Stock Units [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Beginning outstanding balance | 564,891 | 668,056 |
Awarded | 273,290 | 265,630 |
Released | -261,168 | -317,970 |
Forfeited | -11,865 | -50,825 |
Ending outstanding balance | 565,148 | 564,891 |
Weighted average grant date fair value of RSUs granted | $8.09 | $11.35 |
Total fair value of RSUs released | $2,185,000 | $3,491,000 |
StockBased_Compensation_Schedu5
Stock-Based Compensation - Schedule of Information Regarding Restricted Stock Units Outstanding (Detail) (Restricted Stock Units [Member], USD $) | 3 Months Ended | 12 Months Ended | |
In Millions, except Share data, unless otherwise specified | Mar. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 |
Restricted Stock Units [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
RSUs outstanding, Number of Shares | 565,148 | 564,891 | 668,056 |
RSUs vested and expected to vest using estimated forfeiture rates, Number of Shares | 437,437 | 502,411 | |
RSUs outstanding, Weighted Average Remaining Contractual Life (years) | 1 year 6 months 15 days | 10 months 2 days | |
RSUs vested and expected to vest using estimated forfeiture rates, Weighted Average Remaining Contractual Life (years) | 1 year 5 months 23 days | 9 months 18 days | |
RSUs outstanding, Aggregate Intrinsic Value | $5.20 | $5.30 | |
RSUs vested and expected to vest using estimated forfeiture rates, Aggregate Intrinsic Value | $4 | $4.80 |
StockBased_Compensation_Schedu6
Stock-Based Compensation - Schedule of Restricted Stock Awards Activity (Detail) (Restricted Stock Awards [Member], USD $) | 3 Months Ended | 12 Months Ended |
Mar. 31, 2015 | Dec. 31, 2014 | |
Restricted Stock Awards [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Beginning outstanding balance | 35,364 | 44,000 |
Awarded | 0 | 35,364 |
Released | 0 | -44,000 |
Forfeited | 0 | 0 |
Ending outstanding balance | 35,364 | 35,364 |
Weighted average grant date fair value of restricted stock awarded | $0 | $10.97 |
Total fair value of restricted stock awards released | $0 | $483,000 |
StockBased_Compensation_Schedu7
Stock-Based Compensation - Schedule of Stock Options, Market Condition Based Stock Options and Employee Stock Purchase Plan, Valuation Assumptions (Detail) | 3 Months Ended | |
Mar. 31, 2015 | Mar. 31, 2014 | |
Standard Stock Options [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Expected life (in years) | 4 years 8 months 12 days | 4 years 8 months 12 days |
Volatility | 56.00% | 57.00% |
Interest rate | 1.40% | 1.40% |
Dividend yield | ||
Market Condition Based Stock Options [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Expected life (in years) | 7 years | 7 years |
Volatility | 65.00% | 66.00% |
Interest rate | 1.90% | 2.20% |
Dividend yield | ||
Employee Stock Purchase Plan [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Expected life (in years) | 6 months | 6 months |
Volatility | 45.00% | 39.00% |
Interest rate | 0.10% | 0.10% |
Dividend yield |
StockBased_Compensation_Schedu8
Stock-Based Compensation - Schedule of Stock-Based Compensation (Detail) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ||
Total | $1,740 | $1,583 |
Sales and Marketing [Member] | ||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ||
Total | 264 | 230 |
Research and Development [Member] | ||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ||
Total | 496 | 475 |
General and Administrative [Member] | ||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ||
Total | $980 | $878 |
Stockholders_Equity_Changes_in
Stockholders' Equity - Changes in Accumulated Other Comprehensive Income (Loss) (Detail) (USD $) | 3 Months Ended |
In Thousands, unless otherwise specified | Mar. 31, 2015 |
Accumulated Other Comprehensive Income (Loss) [Line Items] | |
Beginning balance | $102 |
Other comprehensive income (loss) before reclassifications | 1 |
Amounts reclassified from accumulated other comprehensive income (loss) | 0 |
Net current period other comprehensive income (loss) | 1 |
Ending Balance | 103 |
Unrealized Gains and Losses on Available-for Sale Securities [Member] | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | |
Beginning balance | 1 |
Other comprehensive income (loss) before reclassifications | 1 |
Amounts reclassified from accumulated other comprehensive income (loss) | 0 |
Net current period other comprehensive income (loss) | 1 |
Ending Balance | 2 |
Foreign Currency Items [Member] | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | |
Beginning balance | 101 |
Other comprehensive income (loss) before reclassifications | 0 |
Amounts reclassified from accumulated other comprehensive income (loss) | 0 |
Net current period other comprehensive income (loss) | 0 |
Ending Balance | $101 |
Stockholders_Equity_Additional
Stockholders' Equity - Additional Information (Detail) (USD $) | 3 Months Ended | |||
Mar. 31, 2015 | Mar. 31, 2014 | Oct. 22, 2014 | Nov. 01, 2007 | |
Equity, Class of Treasury Stock [Line Items] | ||||
Stock repurchase program, additional authorized amount | $30,000,000 | |||
Repurchased shares | 0 | 605,419 | ||
Repurchased shares, value | 6,900,000 | |||
Stock repurchase program, average cost | $11.20 | |||
Stock repurchase program, remaining available repurchase amount | 34,400,000 | |||
Maximum [Member] | ||||
Equity, Class of Treasury Stock [Line Items] | ||||
Stock repurchase program, additional authorized amount | $50,000,000 |
Income_Taxes_Schedule_of_Incom
Income Taxes - Schedule of Income Tax Provisions (Detail) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Income Tax Disclosure [Abstract] | ||
Income (loss) before provision for income taxes | ($95) | $2,947 |
Benefit (provision) for income taxes | $36 | ($1,083) |
Effective tax rate | 37.90% | 36.70% |
Income_Taxes_Additional_Inform
Income Taxes - Additional Information (Detail) (USD $) | 3 Months Ended |
Mar. 31, 2015 | |
Income Taxes [Line Items] | |
Unrecognized tax benefits | $1,800,000 |
Unrecognized tax benefits, interest | 75,000 |
Unrecognized tax benefits that would affect the Company's effective tax rate | 275,000 |
Changes in the amount of unrecognized tax benefits | 0 |
Net deferred income taxes | 34,900,000 |
State and Foreign [Member] | |
Income Taxes [Line Items] | |
Valuation allowance of deferred tax assets | $7,500,000 |
Net_Income_Loss_Per_Share_Reco
Net Income (Loss) Per Share - Reconciliation used in Computing Basic and Diluted Net Income (Loss) per Share (Detail) (USD $) | 3 Months Ended | |
In Thousands, except Per Share data, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Numerator: | ||
Net income (loss) | ($59) | $1,864 |
Denominator: | ||
Shares used in computation of basic net income (loss) per share (weighted average common shares outstanding) | 27,818 | 28,370 |
Dilutive potential common shares: | ||
Restricted Stock and RSUs | 0 | 316 |
Stock options | 0 | 696 |
Shares used in computation of diluted net income (loss) per share | 27,818 | 29,382 |
Basic net income (loss) per share | $0 | $0.07 |
Diluted net income (loss) per share | $0 | $0.06 |
Net_Income_Loss_Per_Share_Sche
Net Income (Loss) Per Share - Schedule of Outstanding Securities (Detail) | 3 Months Ended | |
Mar. 31, 2014 | Mar. 31, 2015 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Outstanding securities having potential to dilute basic EPS | 1,400,000 | |
Outstanding Stock Options [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Outstanding securities having potential to dilute basic EPS | 3,875,153 | |
Restricted Stock Units [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Outstanding securities having potential to dilute basic EPS | 565,148 |
Net_Income_Loss_Per_Share_Addi
Net Income (Loss) Per Share - Additional Information (Detail) (USD $) | 3 Months Ended |
Mar. 31, 2014 | |
Earnings Per Share [Abstract] | |
Options to purchase shares of common stock | 1,400,000 |
Average fair market value of stock | $11.21 |