Edgar Online (EDGR) 10-Q 16 Nov 09 2009 Q3 Quarterly report Financial data

Statement Of Financial Position

Statement Of Financial Position Classified (USD $)
In Thousands	Sep. 30, 2009	Dec. 31, 2008
ASSETS
Cash and cash equivalents	$1,524	$2,062
Short-term investments	223	220
Accounts receivable, less allowance of $312 at December 31, 2008 and $375 at September 30, 2009	2,441	2,570
Other current assets	179	254
Total current assets	4,367	5,106
Property and equipment, net	2,444	1,826
Goodwill	2,189	2,189
Other intangible assets, net	2,017	2,952
Other assets	709	933
Total assets	11,726	13,006
LIABILITIES AND STOCKHOLDERS' EQUITY
Accounts payable and accrued expenses	2,185	2,407
Deferred revenues	3,651	4,239
Current portion of long-term debt	500	438
Total current liabilities	6,336	7,084
Long-term debt	1,528	1,885
Other long-term liabilities	206	333
Total liabilities	8,070	9,302
Stockholders' equity:
Preferred stock, $0.01 par value, 1,000,000 shares authorized, no shares issued or outstanding	0	0
Common stock, $0.01 par value, 50,000,000 shares authorized at December 31, 2008 and September 30, 2009, 27,554,713 shares issued and 26,505,818 shares outstanding at December 31, 2008 and 27,791,902 shares issued and 26,776,341 shares outstanding at September 30, 2009	278	276
Additional paid-in capital	74,104	73,092
Accumulated deficit	(68,956)	(67,836)
Treasury stock, at cost, 1,048,895 shares at December 31, 2008 and 1,015,561 shares at September 30, 2009	(1,770)	(1,828)
Total stockholders' equity	3,656	3,704
Total liabilities and stockholders' equity	$11,726	$13,006

1_Statement Of Financial Positi

Statement Of Financial Position Classified (Parenthetical) (USD $)
In Thousands, except Share data	Sep. 30, 2009	Dec. 31, 2008
Accounts receivable, allowance	$375	$312
Preferred stock, par value	0.01	0.01
Preferred stock, shares authorized	1,000,000	1,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	0.01	0.01
Common stock, shares authorized	50,000,000	50,000,000
Common stock, shares issued	27,791,902	27,554,713
Common stock, shares outstanding	26,776,341	26,505,818
Treasury stock, shares	1,015,561	1,048,895

Statement Of Income

Statement Of Income (USD $)
In Thousands, except Per Share data	3 Months Ended Sep. 30, 2009	3 Months Ended Sep. 30, 2008	9 Months Ended Sep. 30, 2009	9 Months Ended Sep. 30, 2008
Revenues:
Subscriptions	$1,585	$2,127	$5,122	$6,662
Data and solutions	2,179	2,110	6,434	7,085
XBRL filings	1,478	464	2,488	866
Total revenues	5,242	4,701	14,044	14,613
Cost of revenues	1,147	645	3,479	2,224
Gross profit	4,095	4,056	10,565	12,389
Operating expenses:
Sales and marketing	701	1,081	2,450	3,481
Product development	478	1,043	1,491	3,147
General and administrative	1,897	2,097	5,854	6,162
Amortization and depreciation	568	464	1,598	1,394
Operating Expenses, Total	3,644	4,685	11,393	14,184
Income (loss) from operations	451	(629)	(828)	(1,795)
Interest and other expense	(91)	(121)	(292)	(347)
Net income (loss)	$360	($750)	($1,120)	($2,142)
Weighted average shares outstanding-basic	26,775	26,407	26,731	26,350
Weighted average shares outstanding-diluted	27,437	26,407	26,731	26,350
Net income (loss) per share-basic	0.01	-0.03	-0.04	-0.08
Net income (loss) per share-diluted	0.01	-0.03	-0.04	-0.08

Statement Of Cash Flows Indirec

Statement Of Cash Flows Indirect (USD $)
In Thousands	9 Months Ended Sep. 30, 2009	9 Months Ended Sep. 30, 2008
Cash flows from operating activities:
Net loss	($1,120)	($2,142)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:
Depreciation	663	459
Amortization of intangible assets	935	935
Stock-based compensation	1,050	901
Provision for losses on trade accounts receivable	455	420
Amortization of capitalized product costs	164	164
Amortization of deferred financing costs and discount	51	91
Changes in assets and liabilities:
Accounts receivable	(326)	(198)
Other assets, net	108	(65)
Accounts payable and accrued expenses	(222)	(1,200)
Deferred revenues	(588)	588
Long-term payables	(127)	(239)
Total adjustments	2,163	1,856
Net cash (used in) provided by operating activities	1,043	(286)
Cash flows from investing activities:
Capital expenditures	(277)	(411)
Capitalized product development costs	(1,004)	(260)
Short-term investments	(3)	(10)
Net cash used in investing activities	(1,284)	(681)
Cash flows from financing activities:
Proceeds from exercise of stock options and warrants	16	116
Payments of notes payable	(313)	(63)
Net cash provided by (used in) financing activities	(297)	53
Net decrease in cash and cash equivalents	(538)	(914)
Cash and cash equivalents at beginning of period	2,062	3,568
Cash and cash equivalents at end of period	1,524	2,654
Supplemental disclosure of cash flow information:
Cash paid for interest	$146	$167

BASIS OF PRESENTATION

BASIS OF PRESENTATION
	9 Months Ended Sep. 30, 2009 USD / shares
BASIS OF PRESENTATION	(1) BASIS OF PRESENTATION EDGAR Online, Inc. was incorporated in the State of Delaware in November 1995 under the name Cybernet Data Systems, launched its EDGAR Online website in January 1996, and went public in May 1999 under its current name. The Company creates and distributes financial data and public filings for equities, mutual funds, and a variety of other publicly traded assets. The highly detailed data produced by the Company assists in the analysis of the financial, business and ownership conditions of a company or investment vehicle. The Company has also developed high volume distribution techniques for managing and delivering regulatory filings. In addition, the Company has developed proprietary automated data parsing, tagging and processing systems that allow for rapid conversion of unstructured data into structured financial data sets. The Company specializes in the use of the financial reporting standard called eXtensible Business Reporting Language (XBRL) and leverages its automated processing platform and expertise in XBRL to produce both standard and custom data sets and to assist companies with the creation of their own XBRL financial reports. The Company also creates tools and web sites for easy viewing and analysis of this XBRL data. Consumers of our information are generally financial, corporate and advisory professionals who work in financial institutions such as investment funds, asset management firms, insurance companies and banks, stock exchanges and government agencies, as well as accounting firms, law firms, corporations or individual investors. The unaudited interim financial statements of the Company as of September30, 2009 and for the three and nine months ended September30, 2008 and 2009 included herein have been prepared in accordance with the instructions for Form 10-Q under the Securities Exchange Act of 1934, as amended (the Exchange Act), and Article 10 of Regulation S-X under the Exchange Act. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States have been condensed or omitted pursuant to such rules and regulations relating to interim financial statements. In the opinion of the Company, the accompanying unaudited interim financial statements reflect all adjustments, consisting only of normal recurring adjustments, necessary to present fairly the financial position of the Company as of September30, 2009 and the results of its operations for the three and nine months ended September30, 2008 and 2009 and cash flows for the nine months ended September30, 2008 and 2009. The results for thethree and nine months ended September30, 2009 are not necessarily indicative of the expected results for the full 2009 fiscal year or any future period. These financial statements should be read in conjunction with the financial statements and related footnotes included in the Companys Annual Report on Form 10-K for the year ended December31, 2008, filed with the SEC in March 2009. The condensed consolidated balance sheet information was derived from the audited consolidated financial statemen

INCOME

INCOME (LOSS) PER SHARE
	9 Months Ended Sep. 30, 2009 USD / shares
INCOME (LOSS) PER SHARE	(2) INCOME (LOSS) PER SHARE Basicincome (loss) per share excludes dilution for common stock equivalents and is computed by dividingnet income (loss) by the weighted average number of common shares outstanding for the period. Diluted income (loss) per share is calculated using the treasury stock method and reflects, in periods in which they have a dilutive effect, the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted and resulted in the issuance of common stock. Diluted net income per share for the three months ended September30, 2009 included the effect of 1,287,378 options with a weighted average exercise price of $1.16 and the effect of 248,495 unvested restricted stock grants. Diluted net loss per share is the same as basic net loss per share amounts for the three months ended September30, 2008 and the nine months ended September30, 2008 and 2009 as the Company reported a net loss and therefore all outstanding stock options, unvested restricted stock grants and warrants are anti-dilutive. Diluted net loss per share does not include the effect of outstanding stock options, unvested restricted stock grants and warrants for the three and nine months ended September30, 2008 and the nine months ended September30, 2009 of 3,885,714 and 3,976,857, respectively. A reconciliation of shares used in calculatingbasic and diluted net income per share for the three months ended September30, 2009 is as follows: ThreeMonthsEnded September30, 2009 Basic 26,774,736 Effect of options and unvested restricted stock grants 662,737 Diluted 27,437,473

SOFTWARE DEVELOPMENT COSTS

SOFTWARE DEVELOPMENT COSTS
	9 Months Ended Sep. 30, 2009 USD / shares
SOFTWARE DEVELOPMENT COSTS	(3) SOFTWARE DEVELOPMENT COSTS The Company capitalizes software development costs in accordance with Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) Topic 985-20 (previously Statement of Financial Accounting Standards (SFAS) No.86, Accounting for the Costs of Computer Software to be Sold, Leased, or Otherwise Marketed). Software development costs are capitalized after technological feasibility is established. Once the software products become available for general release to the public, the Company amortizes such costs over the related products estimated economic useful life to cost of revenues. Net capitalized software development costs (included in other assets) totaled $416 and $252 at December31, 2008 and September30, 2009, respectively. Related amortization expense, included in cost of revenues, totaled $55 for both the three months ended September30, 2008 and 2009 and $164 for both the nine months ended September30, 2008 and 2009. The Company capitalizes internal-use software development costs in accordance with ASC Topic 350-40 (previously Statement of Position No.98-1, Accounting for the Costs of Computer Software Developed or Obtained for Internal Use). The Company capitalizes internal-use software development costs once certain criteria are met. Once the internal-use software is ready for its intended use, the capitalized internal-use software costs will be amortized over the related softwares estimated economic useful life in amortization and depreciation expense. Our computer software is also subject to review for impairment as events or changes in circumstances occur indicating that the amount of the asset reflected in the Companys balance sheet may not be recoverable. Net capitalized internal-use software costs (included in property and equipment) were $725 and $1,484 at December31, 2008 and September30, 2009, respectively. Related amortization expense totaled $0 and $122 in the three months ended September30, 2008 and 2009, respectively and $0 and $245 in the nine months ended September30, 2008 and 2009, respectively.

LONG-TERM DEBT

LONG-TERM DEBT
	9 Months Ended Sep. 30, 2009 USD / shares
LONG-TERM DEBT	(4) LONG-TERM DEBT On April5, 2007, the Company entered into a Financing Agreement (Financing Agreement) with Rosenthal Rosenthal, Inc. (Rosenthal) for additional working capital. Under the Financing Agreement, Rosenthal made a term loan in the principal amount of $2,500 to the Company and has additionally agreed to provide up to an additional $2,500 under a revolving line of credit. Interest on outstanding borrowings under the Financing Agreement is payable at variable rates of interest over the published JPMorgan Chase prime rate (with a minimum prime rate of 6%), 2.5% on the term loan and 2% on borrowings under the revolving credit facility. The Companys obligations under the term loan are evidenced by a secured Term Note and all of the Companys obligations to Rosenthal are secured by a first priority security interest in substantially all of the Companys assets. The Financing Agreement, as amended most recently on March13, 2009, terminates on March30, 2011 unless sooner terminated by either party in accordance with the terms of the Financing Agreement. The terms include a provision that would allow the lender to accelerate the due date of the debt based on certain circumstances. The Company is required to maintain certain levels of working capital and tangible net worth pursuant to the Financing Agreement. On April22, 2008, these amounts were amended effective as of December31, 2007. On March13, 2009, these amounts were amended effective as of December31, 2008. The Company was in compliance with the amended terms at September30, 2009. In connection with the Financing Agreement, the Company issued to Rosenthal a warrant to purchase 100,000 shares of the Companys common stock at an exercise price equal to $2.81 (the market price of the Companys common stock on the closing date of the transaction) which warrant expires on April30, 2010. A discount related to the warrant totaling $125 was recorded based on the Black-Scholes-Merton fair value of the warrant on the date of issue and is being amortized over the term of the Financing Agreement. Also in connection with this transaction, the Company paid its financial advisor $125, which represents 3% of the gross principal amount of the term loan and 2% of the gross principal amount of the revolving credit. The term loan, as amended, is due as follows: (i)$21 per month from July1, 2008 through and including March1, 2009; (ii)$42 from April1, 2009 through the maturity date and (iii)the entire remaining unpaid balance on the maturity date. At September30, 2009, $500 was classified as the current portion of long-term debt and $1,528 was classified long-term debt. There were $66 of unamortized deferred financing costs included in other assets. The Company has not received any funding under the revolving line of credit as of September30, 2009. Interest expense under the Agreement totaled $84 and $77 for the three months ended September30, 2008 and 2009, respectively, and included $31 and $17, respectively, of amortization of deferred financing costs and warrant discount. Interest expense under the Agreement totaled $254 and $250 for the nine months ended September30, 2008 and 2009, respectiv

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION
	9 Months Ended Sep. 30, 2009 USD / shares
STOCK-BASED COMPENSATION	(5) STOCK-BASED COMPENSATION Stock Compensation Expense The Company records stock-based compensation expense under the provisions of FASB ASC Topic 718 (previously SFAS No.123 (R), Share-Based Payment). Stock-based compensation expense for the three and nine months ended September30, 2008 and 2009 was recognized in the following income statement expenses: ThreeMonthsEnded September30, NineMonthsEnded September30, 2008 2009 2008 2009 Cost of revenues $ 13 $ 12 $ 37 $ 35 Sales and marketing 92 93 251 298 Product development 36 36 115 101 General and administrative 180 132 498 616 Total stock compensation expense $ 321 $ 273 $ 901 $ 1,050 This expense increased the Companys net loss per share by $0.01 in the three months ended September30, 2008 and decreased the Companys net income per share by $0.01 in the three months ended September30, 2009, and increased the Companys net loss per share by $0.03 and $0.04 in the nine months ended September30, 2008 and 2009, respectively. The estimated per share weighted-average grant-date fair values of stock options granted during the three months ended September30, 2008 and 2009 were $1.00 and $0.84, respectively. The estimated per share weighted-average grant-date fair values of stock options granted during the nine months ended September30, 2008 and 2009 were $1.51 and $0.99, respectively. Amounts were determined using the Black-Scholes-Merton option pricing model based on the following assumptions: NineMonthsEnded September30, 2008 2009 Expected dividend yield 0.0 % 0.0 % Expected volatility 76 % 74 % Risk-free interest rate 2.54-3.86 % 1.92-2.04 % Expected life in years 6 6 The assumptions used in calculating the value of stock options, which involve inherent uncertainties and the application of management judgment, were based on the following: Expected dividend yield reflects the Companys present intention to retain earnings, if any, for use in the operation and expansion of the Companys business; Expected volatility determined considering historical volatility of the Companys common stock over the preceding six years; Risk-free interest rate based on the yield available on U.S. Treasury zero coupon issues with a remaining term approximating the expected life of the stock option awards; and Expected life calculated as the weighted average period that the stock option awards are expected to remain outstanding based on historical experience. Stock Options and Restricted Stock Grants as of September30, 2009 In May 2005, the Company adopted the 2005 Stock Award and Incentive Plan (the 2005 Plan) which replaced all previous stock option plans which in total had authorized the issuance of options to purchase up to 4.1million shares of the Companys common stock since the Companys inception. All remaining available shares under the Companys prior stock option plans became available under the 2005

FAIR VALUE OF FINANCIAL INSTRUM

FAIR VALUE OF FINANCIAL INSTRUMENTS
	9 Months Ended Sep. 30, 2009 USD / shares
FAIR VALUE OF FINANCIAL INSTRUMENTS	(6) FAIR VALUE OF FINANCIAL INSTRUMENTS The financial statement carrying values of the Companys cash and cash equivalents, short-term investments, accounts receivable, accounts payable and accrued liabilities at December31, 2008 and September30, 2009, approximate their fair value because of the immediate or short-term maturity of these instruments. The Company maintains a cash balance at one financial institution with balances insured by the Federal Deposit Insurance Corporation (FDIC). At times, the balance at such financial institution exceeds the FDIC insured limits. The financial statement carrying value of the Companys long-term debt approximates its fair value based on interest rates currently available to the Company for borrowings with similar characteristics and maturities.

RECENT ACCOUNTING PRONOUNCEMENT

RECENT ACCOUNTING PRONOUNCEMENTS
	9 Months Ended Sep. 30, 2009 USD / shares
RECENT ACCOUNTING PRONOUNCEMENTS	(7) RECENT ACCOUNTING PRONOUNCEMENTS Adopted In June 2009, FASB issued Accounting Standards Update No.2009-01, Generally Accepted Accounting Principles (ASC Topic 105) which establishes the FASB Accounting Standards Codification (the Codification or ASC) as the official single source of authoritative U.S. generally accepted accounting principles (GAAP). All existing accounting standards are superseded. All other accounting guidance not included in the Codification will be considered non-authoritative. The Codification also includes all relevant Securities and Exchange Commission (SEC) guidance organized using the same topical structure in separate sections within the Codification. Following the Codification, the Board will not issue new standards in the form of Statements, FASB Staff Positions or Emerging Issues Task Force Abstracts. Instead, it will issue Accounting Standards Updates (ASU) which will serve to update the Codification, provide background information about the guidance and provide the basis for conclusions on the changes to the Codification. The Codification is not intended to change GAAP, but it will change the way GAAP is organized and presented. The Codification is effective for our third quarter 2009 financial statements and the principal impact on our financial statements is limited to disclosures as all future references to authoritative accounting literature will be referenced in accordance with the Codification. In August 2009, the FASB issued ASU No.2009-05, Measuring Liabilities at Fair Value (ASU 2009-05).ASU 2009-05 amends ASC Topic 820 and clarifies that, where a quoted price in an active market for the identical liability is not available, a reporting entity is required to measure fair value using one or more of the following methods: 1) a valuation technique that uses a) the quoted price of the identical liability when traded as an asset or b) quoted prices for similar liabilities or similar liabilities when traded as assets and/or 2) a valuation technique that is consistent with the principles of ASC Topic 820.ASU 2009-05 also clarifies that, when estimating the fair value of a liability, a reporting entity is not required to adjust to include inputs relating to the existence of transfer restrictions on that liability.The adoption of ASU 2009-05 did not have a material impact on the Companys financial statements. In April 2009, the FASB issued guidance within ASC Topic 825-10, Financial Instruments Overall, concerning interim disclosures about fair value instruments.This guidance requires that disclosures about the fair value of a companys financial instruments be made whenever summarized financial information for interim reporting periods is made.The provisions of this guidance are effective for interim periods ending after June15, 2009. The adoption of this guidance did not have a material impact on the Companys financial statements. In May 2009, the FASB issued guidance within ASC Topic 855-10, Subsequent Events, relating to subsequent events.This guidance establishes principles and requirements for subsequent events.This guidance defines the period after the balance sheet date during which

Weighted Average Number of Shar

Weighted Average Number of Shares Outstanding Disclosure (Tables)
	9 Months Ended Sep. 30, 2009 USD / shares
Weighted Average Number of Shares Outstanding Disclosure	A reconciliation of shares used in calculating basic and diluted net income per share for the three months ended September30, 2009 is as follows: ThreeMonthsEnded September30, 2009 Basic 26,774,736 Effect of options and unvested restricted stock grants 662,737 Diluted 27,437,473

Disclosure of Compensation Rela

Disclosure of Compensation Related Costs, Share-based Payments (Tables)
	9 Months Ended Sep. 30, 2009 USD / shares
Disclosure of Compensation Related Costs, Share-based Payments	The Company records stock-based compensation expense under the provisions of FASB ASC Topic 718 (previously SFAS No.123 (R), Share-Based Payment). Stock-based compensation expense for the three and nine months ended September30, 2008 and 2009 was recognized in the following income statement expenses: ThreeMonthsEnded September30, NineMonthsEnded September30, 2008 2009 2008 2009 Cost of revenues $ 13 $ 12 $ 37 $ 35 Sales and marketing 92 93 251 298 Product development 36 36 115 101 General and administrative 180 132 498 616 Total stock compensation expense $ 321 $ 273 $ 901 $ 1,050

Share-based Compensation Arrang

Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Method Used (Tables)
	9 Months Ended Sep. 30, 2009 USD / shares
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Method Used	Amounts were determined using the Black-Scholes-Merton option pricing model based on the following assumptions: NineMonthsEnded September30, 2008 2009 Expected dividend yield 0.0 % 0.0 % Expected volatility 76 % 74 % Risk-free interest rate 2.54-3.86 % 1.92-2.04 % Expected life in years 6 6

Disclosure of Share-based Compe

Disclosure of Share-based Compensation Arrangements by Share-based Payment Award (Tables)
	9 Months Ended Sep. 30, 2009 USD / shares
Disclosure of Share-based Compensation Arrangements by Share-based Payment Award	Option activity for the nine months ended September30, 2009 is as follows: NUMBEROF OPTIONS WEIGHTED AVERAGE EXERCISE PRICE WEIGHTED AVERAGE REMAINING CONTRACTUAL TERM AGGREGATE INTRINSIC VALUE Outstanding at December31, 2008 3,362,216 $ 2.47 Granted 519,230 $ 1.05 Exercised (20,000 ) $ 0.79 Cancelled (233,084 ) $ 4.38 Outstanding at September30, 2009 3,628,362 $ 2.13 6.26years $ 1,080 Exercisable at September30, 2009 2,586,795 $ 2.31 5.43 years $ 599

Restricted Share Activity Discl

Restricted Share Activity Disclosure (Tables)
	9 Months Ended Sep. 30, 2009 USD / shares
Restricted Share Activity Disclosure	Restricted share activity is as follows: NUMBEROF SHARES WEIGHTED AVERAGE GRANT-DATE FAIR VALUE AGGREGATE INTRINSIC VALUE Non-vested at December 31, 2008 270,556 $ 2.82 Granted 228,462 $ 1.10 Vested (250,523 ) $ 1.42 Cancelled Non-vested at September 30, 2009 248,495 $ 2.65 $ 485

Earnings Per Share Additional I

Earnings Per Share Additional Information (Details) (USD $)
	3 Months Ended Sep. 30, 2009	3 Months Ended Sep. 30, 2008	9 Months Ended Sep. 30, 2009	9 Months Ended Sep. 30, 2008
Earnings Per Share Additional Information [Abstract]
Number of options included in diluted net income per share	1,287,378
Number of options included in diluted net income per share, weighted average exercise price	1.16
Unvested restricted stock grants included in diluted net income per share	248,495
Outstanding stock options, unvested restricted stock grants and warrants not included in diluted net income per share		3,885,714	3,976,857	3,885,714

2_Weighted Average Number of Sh

Weighted Average Number of Shares Outstanding (Details) (USD $)
	3 Months Ended Sep. 30, 2009
Weighted Average Number of Shares Outstanding, Diluted [Abstract]
Basic	26,774,736
Effect of options and unvested restricted stock grants	662,737
Diluted	27,437,473

Research and Development Expens

Research and Development Expense Additional Information (Details) (USD $)
In Thousands	3 Months Ended Sep. 30, 2009	3 Months Ended Sep. 30, 2008	9 Months Ended Sep. 30, 2009	9 Months Ended Sep. 30, 2008	Dec. 31, 2008
Research and Development Expense [Abstract]
Net capitalized software development costs (included in other assets)			$252		$416
Net capitalized software development costs, (amortization expense, included in cost of revenues)	55	55	164	164
Net capitalized internal-use software costs (included in property and equipment)			1,484		725
Net capitalized internal-use software costs (amortization expense)	$122	$0	$245	$0

Debt Information (Details)

Debt Information (Details) (USD $)
In Thousands, except Share data	1 Months Ended Sep. 30, 2009	1 Months Ended Mar. 01, 2009	3 Months Ended Sep. 30, 2009	3 Months Ended Sep. 30, 2008	9 Months Ended Sep. 30, 2009	9 Months Ended Sep. 30, 2008	Apr. 05, 2007
Debt Information [Abstract]
Financing Agreement, term loan principal amount							$2,500
Financing Agreement, revolving line of credit							2,500
Financing Agreement, warrant to purchase shares							100,000
Financing Agreement, warrant to purchase shares, exercise price							2.81
Financing Agreement, discount related to the warrant							125
Financing Agreement, amount paid to financial advisor							125
Financing Agreement, term loan (amount due per month from July 1, 2008 through and including March 1, 2009 and amount due per month from April 1, 2009 through the maturity date)	42	21
Financing Agreement, term loan (classified as the current portion of long-term debt)					500
Financing Agreement, term loan (classified long-term debt)					1,528
Financing Agreement, term loan (unamortized deferred financing costs included in other assets)					66
Financing Agreement, term loan (Interest expense)			77	84	250	254
Financing Agreement, term loan (amortization of deferred financing costs and warrant discount)			$17	$31	$51	$91

Share Based Compensation Expens

Share Based Compensation Expense (Details) (USD $)
In Thousands	3 Months Ended Sep. 30, 2009	3 Months Ended Sep. 30, 2008	9 Months Ended Sep. 30, 2009	9 Months Ended Sep. 30, 2008
Share-based Compensation, Allocation and Classification in Financial Statements [Abstract]
Cost of revenues	$12	$13	$35	$37
Sales and marketing	93	92	298	251
Product development	36	36	101	115
General and administrative	132	180	616	498
Total stock compensation expense	$273	$321	$1,050	$901

Estimated Per Share Weighted Av

Estimated Per Share Weighted Average Grant Date Fair Values of Stock Options Granted, Assumptions (Details) (USD $)
	9 Months Ended Sep. 30, 2009	9 Months Ended Sep. 30, 2008
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology [Abstract]
Expected dividend yield	0	0
Expected volatility	0.74	0.76
Risk-free interest rate	1.92-2.04%	2.54-3.86%
Expected life in years	6	6

Stock Option (Details)

Stock Option (Details) (USD $)
In Thousands, except Share data	9 Months Ended Sep. 30, 2009	Dec. 31, 2008
NUMBER OF OPTIONS
Outstanding at Beginning of Period	3,362,216
Granted	519,230
Exercised	(20,000)
Cancelled	(233,084)
Outstanding at End of Period	3,628,362	3,362,216
Exercisable at End of Period	2,586,795
WEIGHTED AVERAGE EXERCISE PRICE
Outstanding at Beginning of Period	2.47
Granted	1.05
Exercised	0.79
Cancelled	4.38
Outstanding at End of Period	2.13	2.47
Exercisable at End of Period	2.31
WEIGHTED AVERAGE REMAINING CONTRACTUAL TERM
Outstanding at End of Period	6.26
Exercisable at End of Period	5.43
AGGREGATE INTRINSIC VALUE
Outstanding at End of Period	$1,080
Exercisable at End of Period	$599

Restricted Share Activity (Deta

Restricted Share Activity (Details) (USD $)
In Thousands, except Share data	9 Months Ended Sep. 30, 2009	Dec. 31, 2008
NUMBER OF SHARES
Non-vested at Beginning of Period	270,556
Granted	228,462
Vested	(250,523)
Cancelled	0
Non-vested at End of Period	248,495	270,556
WEIGHTED AVERAGE GRANT-DATE FAIR VALUE
Non-vested at Beginning of Period	2.82
Granted	1.1
Vested	1.42
Cancelled	$0
Non-vested at End of Period	2.65	2.82
AGGREGATE INTRINSIC VALUE
Non-vested at End of Period	$485

Share Based Compensation Additi

Share Based Compensation Additional Information (Details) (USD $)
In Thousands, except Share data	3 Months Ended Sep. 30, 2009	3 Months Ended Sep. 30, 2008	9 Months Ended Sep. 30, 2009	9 Months Ended Sep. 30, 2008	Jun. 10, 2009	Jun. 23, 2008	May. 31, 2005
Share-based Compensation Arrangement by Share-based Payment Award, Additional General Disclosures [Abstract]
Increase in net loss per share/(decrease) in net income per share from stock based compensation expense	-0.01	0.01	0.04	0.03
Estimated per share weighted-average grant-date fair values of stock options granted	0.84	$1	0.99	1.51
2005 Stock Award and Incentive Plan, maximum shares authorized							4,100,000
2005 Stock Award and Incentive Plan, authorized new shares of common stock for equity awards							1,087,500
2005 Stock Award and Incentive Plan, amended to increase the number of shares available for grant					1,000,000	1,000,000
Approximate aggregate intrinsic value of options exercised under the Company's stock option plans			$4
Cash received from stock options exercised			$16
Aggregate intrinsic value of shares vested			2.6
2005 Stock Award and Incentive Plan, shares available for grant			1,413,185

Document Information

Document Information
	9 Months Ended Sep. 30, 2009 USD / shares
Document Information [Text Block]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	2009-09-30

Entity Information

Entity Information (USD $)
	9 Months Ended Sep. 30, 2009	Nov. 16, 2009
Entity [Text Block]
Trading Symbol	EDGR
Entity Registrant Name	EDGAR ONLINE INC
Entity Central Index Key	0001080224
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		26,855,150