Document_and_Entity_Informatio
Document and Entity Information | 3 Months Ended | |
Mar. 31, 2014 | 5-May-14 | |
Document and Entity Information [Abstract] | ' | ' |
Entity Registrant Name | 'ELLIE MAE INC | ' |
Entity Central Index Key | '0001122388 | ' |
Document Type | '10-Q | ' |
Document Period End Date | 31-Mar-14 | ' |
Amendment Flag | 'false | ' |
Document Fiscal Year Focus | '2014 | ' |
Document Fiscal Period Focus | 'Q1 | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Filer Category | 'Accelerated Filer | ' |
Entity Common Stock, Shares Outstanding | ' | 28,113,434 |
Condensed_Consolidated_Balance
Condensed Consolidated Balance Sheets (Unaudited) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Current assets | ' | ' |
Cash and cash equivalents | $26,423 | $33,462 |
Short-term investments | 48,833 | 46,325 |
Accounts receivable, net of allowances for doubtful accounts of $143 and $81 as of March 31, 2014 and December 31, 2013, respectively | 13,707 | 12,024 |
Prepaid expenses and other current assets | 6,841 | 6,473 |
Total current assets | 95,804 | 98,284 |
Property and equipment, net | 15,545 | 12,751 |
Long-term investments | 58,018 | 56,285 |
Other intangible assets, net | 8,196 | 5,089 |
Goodwill | 52,460 | 51,051 |
Deposits and other assets | 5,037 | 5,112 |
Total assets | 235,060 | 228,572 |
Current liabilities | ' | ' |
Accounts payable | 3,405 | 3,783 |
Accrued and other current liabilities | 9,206 | 10,224 |
Acquisition holdback, net of discounts | 1,979 | 1,965 |
Deferred revenue | 4,732 | 4,752 |
Total current liabilities | 19,322 | 20,724 |
Leases payable, net of current portion | 518 | 175 |
Other long-term liabilities | 1,234 | 777 |
Total liabilities | 21,074 | 21,676 |
Commitments and contingencies (Note 8) | ' | ' |
Stockholders' equity : | ' | ' |
Common stock, $0.0001 par value per share; 140,000,000 authorized shares, 27,946,818 and 27,624,025 shares issued and outstanding as of March 31, 2014 and December 31, 2013, respectively | 3 | 3 |
Additional paid-in capital | 218,354 | 212,043 |
Accumulated Other Comprehensive Income (Loss), Net of Tax | -37 | -34 |
Accumulated deficit | -4,334 | -5,116 |
Total stockholders' equity | 213,986 | 206,896 |
Total liabilities and stockholders' equity | $235,060 | $228,572 |
Condensed_Consolidated_Balance1
Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, except Share data, unless otherwise specified | ||
Statement of Financial Position [Abstract] | ' | ' |
Accounts receivable, allowances for doubtful accounts | $143 | $81 |
Common stock, par value | $0.00 | $0.00 |
Common stock, shares authorized | 140,000,000 | 140,000,000 |
Common stock, shares issued | 27,946,818 | 27,624,025 |
Common stock, shares outstanding | 27,946,818 | 27,624,025 |
Condensed_Consolidated_Stateme
Condensed Consolidated Statements of Comprehensive Income (Unaudited) (USD $) | 3 Months Ended | |
In Thousands, except Share data, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Statement of Comprehensive Income [Abstract] | ' | ' |
Revenues | $32,178 | $30,855 |
Cost of revenues | 9,200 | 7,611 |
Gross profit | 22,978 | 23,244 |
Operating expenses: | ' | ' |
Sales and marketing | 6,095 | 4,903 |
Research and development | 6,815 | 5,548 |
General and administrative | 8,993 | 7,586 |
Total operating expenses | 21,903 | 18,037 |
Income (loss) from operations | 1,075 | 5,207 |
Other income (expense), net | 100 | 121 |
Income (loss) before income taxes | 1,175 | 5,328 |
Income tax benefit | 393 | 1,415 |
Net income | 782 | 3,913 |
Net income per share of common stock: | ' | ' |
Basic | $0.03 | $0.15 |
Diluted | $0.03 | $0.14 |
Weighted average common shares used in computing net income per share of common stock: | ' | ' |
Basic | 27,339,394 | 26,166,290 |
Diluted | 29,070,130 | 27,962,156 |
Net income | 782 | 3,913 |
Unrealized Gain (Loss) on Investments | -3 | -95 |
Comprehensive income | $779 | $3,818 |
Condensed_Consolidated_Stateme1
Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
CASH FLOWS FROM OPERATING ACTIVITIES: | ' | ' |
Net income | $782 | $3,913 |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' |
Depreciation | 1,157 | 1,095 |
Provision for uncollectible accounts receivable | 64 | -12 |
Amortization of other intangible assets | 505 | 361 |
Amortization of discount related to acquisition holdback | 14 | 35 |
Stock-based compensation | 3,310 | 3,373 |
Excess tax benefit from exercise of stock options | -373 | -249 |
Deferred income taxes | 0 | -287 |
Amortization of investment premium | 352 | 319 |
Changes in operating assets and liabilities: | ' | ' |
Accounts receivable | -1,747 | 102 |
Prepaid expenses and other | -602 | -493 |
Deposits and other assets | 76 | -251 |
Accounts payable | -562 | 671 |
Increase (Decrease) in Accrued Liabilities and Other Operating Liabilities | -830 | 1,025 |
Deferred revenue | -23 | -382 |
Net cash provided by operating activities | 2,123 | 9,220 |
CASH FLOWS FROM INVESTING ACTIVITIES: | ' | ' |
Acquisition of property and equipment | -2,548 | -1,349 |
Purchase of investments | -21,346 | -31,683 |
Maturities of investments | 16,750 | 3,996 |
Acquisitions | -4,500 | 0 |
Net cash used in investing activities | -11,644 | -29,036 |
CASH FLOWS FROM FINANCING ACTIVITIES: | ' | ' |
Payment of capital lease obligations | -464 | -2 |
Proceeds from Issuance of Shares under Incentive and Share-based Compensation Plans, Including Stock Options | 2,613 | 1,371 |
Payments Related to Tax Withholding for Share-based Compensation | -40 | 0 |
Excess tax benefits from exercise of stock options | 373 | 249 |
Net cash provided by financing activities | 2,482 | 1,618 |
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | -7,039 | -18,198 |
CASH AND CASH EQUIVALENTS, Beginning of period | 33,462 | 44,114 |
CASH AND CASH EQUIVALENTS, End of period | 26,423 | 25,916 |
Supplemental disclosure of non-cash investing and financing activities: | ' | ' |
Fixed asset purchases not yet paid | 1,069 | 381 |
Stock-based compensation capitalized to property and equipment | 54 | 15 |
Acquisition of property and equipment under capital leases | 1,195 | 317 |
Supplemental Cash Flow Information [Abstract] | ' | ' |
Interest Paid | 24 | 28 |
Income Taxes Paid | $18 | $64 |
Description_of_Business
Description of Business | 3 Months Ended |
Mar. 31, 2014 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' |
Description of Business | ' |
Description of Business | |
Ellie Mae, Inc. (“Ellie Mae,” “the Company,” “we,” “our” or “us”) is a leading provider of innovative on-demand software solutions and services for the residential mortgage industry in the United States. The Company's end-to-end Encompass mortgage management solution provides one system of record that allows banks, credit unions and mortgage lenders to originate and fund mortgages and improve compliance, loan quality and efficiency. |
Basis_of_Presentation_and_Sign
Basis of Presentation and Significant Accounting Policies | 3 Months Ended | |||||
Mar. 31, 2014 | ||||||
Accounting Policies [Abstract] | ' | |||||
Basis of Presentation and Significant Accounting Policies | ' | |||||
The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States (“GAAP”) and applicable rules and regulations of the Securities and Exchange Commission (“SEC”) regarding interim financial reporting. Certain information and note disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. Therefore, these condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes included in our Annual Report on Form 10-K for the year ended December 31, 2013, which was filed with the SEC on March 13, 2014 (“2013 Form 10-K”). | ||||||
The condensed consolidated balance sheet as of December 31, 2013, included herein, was derived from the audited financial statements as of that date but does not include all disclosures, including notes required by GAAP. | ||||||
In the opinion of management, the accompanying unaudited condensed consolidated financial statements reflect all normal recurring adjustments necessary to present fairly the financial positions, results of operations and cash flows for the interim periods, but are not necessarily indicative of the results of operations to be anticipated for the full year 2014 or any future period. | ||||||
Principles of Consolidation | ||||||
The condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All intercompany balances and transactions have been eliminated. | ||||||
Certain reclassifications have been made to prior period amounts to conform to current period presentation. Such reclassifications have no effect on revenues, income from operations or net income as previously reported. | ||||||
Use of Estimates | ||||||
The preparation of condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. | ||||||
Significant Accounting Policies | ||||||
Our significant accounting policies are described in Note 2 of the Notes to Consolidated Financial Statements in our 2013 Form 10-K. There have been no significant changes to these policies. | ||||||
Other Income, Net | ||||||
Other income, net consisted of the following: | ||||||
Three Months ended March 31, | ||||||
2014 | 2013 | |||||
(in thousands) | ||||||
Interest income | 122 | 163 | ||||
Net realized gain (loss) on investments | 1 | (1 | ) | |||
Interest expense | (23 | ) | (41 | ) | ||
Total other income, net | 100 | 121 | ||||
Comprehensive Income | ||||||
Comprehensive income consists of net income and other comprehensive loss. Other comprehensive loss includes certain changes in equity that are excluded from net income, specifically unrealized losses on available-for-sale investments. Except for net realized gain (loss) on investments which was not significant, there were no reclassifications out of accumulated other comprehensive income (“AOCI”) that affected net income during the three months ended March 31, 2014 and 2013. | ||||||
Recent Accounting Pronouncements | ||||||
In July 2013, the Financial Accounting Standards Board issued Accounting Standards Update No. 2013-11, Topic 740 - Income Taxes (“ASU 2013-11”), which provides guidance to improve the presentation of an unrecognized benefit when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exists. ASU 2013-11 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2013. We adopted ASU 2013-11 on January 1, 2014 and this adoption did not have a material impact on our consolidated financial statements. |
Net_Income_Loss_Per_Share_of_C
Net Income (Loss) Per Share of Common Stock | 3 Months Ended | |||||||
Mar. 31, 2014 | ||||||||
Earnings Per Share [Abstract] | ' | |||||||
Net Income (Loss) Per Share of Common Stock | ' | |||||||
Net income per share of common stock is calculated by dividing net income by the weighted average shares of common stock outstanding during the period. Diluted net income per share of common stock is calculated by dividing net income by the weighted average shares of common stock outstanding and potential shares of common stock during the period. Potential shares of common stock include shares attributable to the assumed exercise of stock options, restricted stock unit awards (“RSUs”), performance share awards (“Performance Awards”) and Employee Stock Purchase Plan (“ESPP”) shares using the treasury stock method, if dilutive. | ||||||||
The components of net income per share of common stock were as follows: | ||||||||
Three Months ended March 31, | ||||||||
2014 | 2013 | |||||||
(in thousands, except share and per share amounts) | ||||||||
Net income | $ | 782 | $ | 3,913 | ||||
Basic shares: | ||||||||
Weighted average common shares outstanding | 27,339,394 | 26,166,290 | ||||||
Diluted shares: | ||||||||
Weighted average shares used to compute basic net income per share | 27,339,394 | 26,166,290 | ||||||
Effect of potentially dilutive securities: | ||||||||
Employee stock options, RSUs, Performance Awards and ESPP shares | 1,730,736 | 1,795,866 | ||||||
Weighted average shares used to compute diluted net income per share | 29,070,130 | 27,962,156 | ||||||
Net income per share: | ||||||||
Basic | $ | 0.03 | $ | 0.15 | ||||
Diluted | $ | 0.03 | $ | 0.14 | ||||
The following potential common shares were excluded from the computation of diluted net income per share, as their effect would have been anti-dilutive: | ||||||||
Three Months ended March 31, | ||||||||
2014 | 2013 | |||||||
Employee stock options and awards | 910,812 | 348,202 | ||||||
Performance Awards are included in the diluted shares outstanding for each period if the established performance criteria have been met at the end of the respective periods. However, if none of the required performance criteria have been met for such awards, we include the number of shares that would be issuable if the end of the reporting period were the end of the contingency period. Accordingly, in addition to the employee stock options and awards noted above, 90,625 and 635,483 shares underlying Performance Awards have been excluded from the dilutive shares outstanding for each of the three months ended March 31, 2014 and 2013, respectively. |
Financial_Instruments_and_Fair
Financial Instruments and Fair Value Measurements | 3 Months Ended | |||||||||||||||||||||||
Mar. 31, 2014 | ||||||||||||||||||||||||
Financial Instruments and Fair Value Measurements [Abstract] | ' | |||||||||||||||||||||||
Financial Instruments and Fair Value Measurements | ' | |||||||||||||||||||||||
Fair value is defined as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Fair value measurements are classified and disclosed in one of the following three categories: | ||||||||||||||||||||||||
Level 1 — Valuations based on quoted prices in active markets for identical assets or liabilities. | ||||||||||||||||||||||||
Level 2 — Valuations based on other than quoted prices in active markets for identical assets and liabilities, quoted prices for identical or similar assets or liabilities in inactive markets, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. | ||||||||||||||||||||||||
Level 3 — Valuations based on inputs that are generally unobservable and typically reflect management’s estimates of assumptions that market participants would use in pricing the assets or liabilities. | ||||||||||||||||||||||||
The following tables set forth by level within the fair value hierarchy the Company’s financial assets that were accounted for at fair value on a recurring basis, according to the valuation techniques the Company used to determine their values: | ||||||||||||||||||||||||
Fair value at | Fair value measurements | |||||||||||||||||||||||
using inputs considered as | ||||||||||||||||||||||||
March 31, 2014 | Level 1 | Level 2 | Level 3 | |||||||||||||||||||||
(in thousands) | ||||||||||||||||||||||||
Money market funds | $ | 15,175 | $ | 15,175 | $ | — | $ | — | ||||||||||||||||
Certificates of deposit | 14,998 | — | 14,998 | — | ||||||||||||||||||||
Corporate notes and obligations | 29,196 | — | 29,196 | — | ||||||||||||||||||||
Municipal obligations | 3,115 | — | 3,115 | — | ||||||||||||||||||||
U.S. government and government agency obligations | 59,542 | 13,982 | 45,560 | — | ||||||||||||||||||||
$ | 122,026 | $ | 29,157 | $ | 92,869 | $ | — | |||||||||||||||||
Fair value at | Fair value measurements | |||||||||||||||||||||||
using inputs considered as | ||||||||||||||||||||||||
December 31, 2013 | Level 1 | Level 2 | Level 3 | |||||||||||||||||||||
(in thousands) | ||||||||||||||||||||||||
Money market funds | $ | 16,431 | $ | 16,431 | $ | — | $ | — | ||||||||||||||||
Certificates of deposit | 14,920 | — | 14,920 | — | ||||||||||||||||||||
Corporate notes and obligations | 26,774 | — | 26,774 | — | ||||||||||||||||||||
Municipal obligations | 3,830 | — | 3,830 | — | ||||||||||||||||||||
U.S. government and government agency obligations | 60,018 | 11,428 | 48,590 | — | ||||||||||||||||||||
$ | 121,973 | $ | 27,859 | $ | 94,114 | $ | — | |||||||||||||||||
Financial instruments include cash, cash equivalents and investments including investment-grade interest-bearing securities such as money market accounts, certificates of deposit, commercial paper, corporate bonds, municipal and government agency obligations and guaranteed obligations of the U.S. government. We classify our money market funds and U.S. government obligations as Level 1 instruments due to the use of observable market prices for identical securities that are traded in active markets. | ||||||||||||||||||||||||
When the Company uses observable market prices for identical securities that are traded in less active markets, the Company classifies its marketable financial instruments as Level 2. When observable market prices for identical securities are not available, the Company prices its marketable financial instruments using non-binding market consensus prices that are corroborated with observable market data; quoted market prices for similar instruments; or pricing models with all significant inputs derived from or corroborated with observable market data. Non-binding market consensus prices are based on the proprietary valuation models of pricing providers. These valuation models incorporate a number of inputs, including non-binding and binding broker quotes; observable market prices for identical or similar securities; and the internal assumptions of pricing providers or brokers that use observable market inputs and, to a lesser degree, unobservable market inputs. The Company corroborates non-binding market consensus prices with observable market data as such data exists. | ||||||||||||||||||||||||
As of March 31, 2014 and December 31, 2013, the Company did not have any assets or liabilities that were valued using Level 3 inputs. For the three months ended March 31, 2014 and 2013, there were no transfers of financial instruments among Level 1, Level 2 or Level 3 classifications. | ||||||||||||||||||||||||
For the three months ended March 31, 2014 and 2013, the Company recognized interest income from financial instruments of $0.1 million and $0.2 million, respectively. Gross realized gains and gross realized losses from the sale of investments were not significant during the three months ended March 31, 2014 and 2013. | ||||||||||||||||||||||||
The carrying amounts, gross unrealized gains and losses and estimated fair value of cash and cash equivalents and both short and long-term investments consisted of the following: | ||||||||||||||||||||||||
March 31, 2014 | ||||||||||||||||||||||||
Amortized | Unrealized gains | Unrealized losses | Carrying or | |||||||||||||||||||||
cost | fair value | |||||||||||||||||||||||
(in thousands) | ||||||||||||||||||||||||
Cash and cash equivalents: | ||||||||||||||||||||||||
Cash | $ | 11,248 | $ | — | $ | — | $ | 11,248 | ||||||||||||||||
Money market funds | 15,175 | — | — | 15,175 | ||||||||||||||||||||
$ | 26,423 | $ | — | $ | — | $ | 26,423 | |||||||||||||||||
Investments: | ||||||||||||||||||||||||
Corporate notes and obligations | $ | 29,184 | $ | 25 | $ | (13 | ) | $ | 29,196 | |||||||||||||||
Certificates of deposit | 15,000 | 11 | (13 | ) | 14,998 | |||||||||||||||||||
Municipal obligations | 3,108 | 7 | — | 3,115 | ||||||||||||||||||||
U.S. government notes | 20,662 | 6 | (46 | ) | 20,622 | |||||||||||||||||||
U.S. government agency securities | 38,934 | 18 | (32 | ) | 38,920 | |||||||||||||||||||
$ | 106,888 | $ | 67 | $ | (104 | ) | $ | 106,851 | ||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||
Amortized | Unrealized gains | Unrealized losses | Carrying or | |||||||||||||||||||||
cost | fair value | |||||||||||||||||||||||
(in thousands) | ||||||||||||||||||||||||
Cash and cash equivalents: | ||||||||||||||||||||||||
Cash | $ | 14,092 | $ | — | $ | — | $ | 14,092 | ||||||||||||||||
Money market funds | 16,431 | — | — | 16,431 | ||||||||||||||||||||
U.S. government agency securities | 2,939 | — | — | 2,939 | ||||||||||||||||||||
$ | 33,462 | $ | — | $ | — | $ | 33,462 | |||||||||||||||||
Investments: | ||||||||||||||||||||||||
Corporate notes and obligations | $ | 26,770 | $ | 17 | $ | (13 | ) | $ | 26,774 | |||||||||||||||
Certificates of deposit | 14,945 | 1 | (26 | ) | 14,920 | |||||||||||||||||||
Municipal obligations | 3,827 | 5 | (2 | ) | 3,830 | |||||||||||||||||||
U.S. government notes | 11,430 | 3 | (5 | ) | 11,428 | |||||||||||||||||||
U.S. government agency securities | 45,672 | 12 | (26 | ) | 45,658 | |||||||||||||||||||
$ | 102,644 | $ | 38 | $ | (72 | ) | $ | 102,610 | ||||||||||||||||
The following table shows the gross unrealized losses and the related fair values of our investments that have been in a continuous unrealized loss position: | ||||||||||||||||||||||||
March 31, 2014 | ||||||||||||||||||||||||
Less than 12 Months | 12 Months or Greater | Total | ||||||||||||||||||||||
Fair Value | Unrealized losses | Fair Value | Unrealized losses | Fair Value | Unrealized losses | |||||||||||||||||||
(in thousands) | ||||||||||||||||||||||||
Corporate notes and obligations | $ | 9,336 | $ | (13 | ) | $ | — | $ | — | $ | 9,336 | $ | (13 | ) | ||||||||||
Certificates of deposit | 6,412 | (13 | ) | — | — | 6,412 | (13 | ) | ||||||||||||||||
U.S. government notes | 7,780 | (46 | ) | — | — | 7,780 | (46 | ) | ||||||||||||||||
U.S. government agency securities | 16,272 | (32 | ) | — | — | 16,272 | (32 | ) | ||||||||||||||||
$ | 39,800 | $ | (104 | ) | $ | — | $ | — | $ | 39,800 | $ | (104 | ) | |||||||||||
31-Dec-13 | ||||||||||||||||||||||||
Less than 12 Months | 12 Months or Greater | Total | ||||||||||||||||||||||
Fair Value | Unrealized losses | Fair Value | Unrealized losses | Fair Value | Unrealized losses | |||||||||||||||||||
(in thousands) | ||||||||||||||||||||||||
Corporate notes and obligations | $ | 6,403 | $ | (13 | ) | $ | — | $ | — | $ | 6,403 | $ | (13 | ) | ||||||||||
Certificates of deposit | 12,714 | (26 | ) | — | — | 12,714 | (26 | ) | ||||||||||||||||
Municipal obligations | 552 | (2 | ) | — | — | 552 | (2 | ) | ||||||||||||||||
U.S. government notes | 4,361 | (5 | ) | — | — | 4,361 | (5 | ) | ||||||||||||||||
U.S. government agency securities | 20,614 | (26 | ) | — | — | 20,614 | (26 | ) | ||||||||||||||||
$ | 44,644 | $ | (72 | ) | $ | — | $ | — | $ | 44,644 | $ | (72 | ) | |||||||||||
The following table summarizes the maturities of the Company’s investments at March 31, 2014: | ||||||||||||||||||||||||
Carrying or | ||||||||||||||||||||||||
fair value | ||||||||||||||||||||||||
(in thousands) | ||||||||||||||||||||||||
Remainder of 2014 | $ | 32,348 | ||||||||||||||||||||||
2015 | 39,990 | |||||||||||||||||||||||
2016 | 26,186 | |||||||||||||||||||||||
2017 | 8,327 | |||||||||||||||||||||||
Total | $ | 106,851 | ||||||||||||||||||||||
Actual maturities may differ from the contractual maturities because borrowers may have the right to call or prepay certain obligations. |
Acquisitions_Notes
Acquisitions (Notes) | 3 Months Ended | |||
Mar. 31, 2014 | ||||
Business Combinations [Abstract] | ' | |||
Business Combination Disclosure [Text Block] | ' | |||
On January 15, 2014, the Company acquired substantially all the assets of ARG Interactive, LLC (dba MortgageCEO), a software as a service ("SaaS") company specializing in customer relationship management and marketing solutions for the residential mortgage industry. The Company acquired the MortgageCEO business in order to add functionality to its product offerings. The transaction was accounted for as a business combination and, accordingly, the total purchase price was allocated to the assets acquired based on their respective fair values. The Company expensed all transactions costs, which were insignificant, in the period in which they were incurred. | ||||
The total purchase price was $5.0 million, of which $4.5 million was paid at the time of closing. The remaining $0.5 million (the "holdback funds") has been retained from the purchase price to cover closing capital settlement adjustments and any indemnity claims. Any unused portion of the holdback funds will be paid on July 15, 2015. | ||||
The allocation of the consideration of $5.0 million to the identifiable tangible and intangible assets acquired and liabilities assumed under the purchase method of accounting, based on their estimated fair values as of the acquisition date, is summarized in the following table (in thousands): | ||||
Amortizable intangible assets: | ||||
Developed technology | $ | 2,927 | ||
Customer relationships | 643 | |||
Trade name | 41 | |||
Goodwill | 1,409 | |||
Total purchase price | $ | 5,020 | ||
Developed technology consists of the technology underlying MortgageCEO's existing products. The value of the developed technology was determined by discounting the estimated net future cash flows of these products. The Company is amortizing the developed technology on a straight-line basis over an estimated life of 5 years. | ||||
Customer relationships relate to the Company’s ability to sell existing and future versions of the Company’s products and services to existing MortgageCEO customers. The fair value of the customer relationships was determined by discounting the estimated net future cash flows from the customer contracts. The Company is amortizing customer relationships on a straight-line basis over an estimated life of 5 years. | ||||
Trade name represents the right to use the MortgageCEO name. The fair value of the trade name was determined by estimating a benefit from owning the asset rather than paying a royalty to a third party for the use of the asset. The Company is amortizing the asset on a straight-line basis over an estimated life of 2 years. | ||||
Goodwill represents the excess of the purchase price over the fair value of the identifiable assets acquired and is not deductible for tax purposes. Among the factors that contributed to a purchase price in excess of the fair value of the identifiable assets was the acquisition of an assembled workforce and synergies between the Company's products and MortgageCEO's products. | ||||
MortgageCEO’s results of operations since the closing date of January 15, 2014 have been included in the Company’s consolidated statements of income for the three months ended March 31, 2014. If the acquisition had occurred as of January 1, 2014, the revenue and earnings of the combined entity for the current reporting period would have been approximately the same. MortgageCEO's revenues and earnings for the three months ended March 31, 2014 and 2013 were not significant. |
Goodwill_and_Other_Intangible_
Goodwill and Other Intangible Assets | 3 Months Ended | |||||||||||||
Mar. 31, 2014 | ||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | |||||||||||||
Goodwill and Other Intangible Assets | ' | |||||||||||||
The changes in the carrying value of goodwill during the three months ended March 31, 2014 were as follows (in thousands): | ||||||||||||||
Balance at January 1, 2014 | $ | 51,051 | ||||||||||||
Addition: MortgageCEO acquisition | 1,409 | |||||||||||||
Balance at March 31, 2014 | $ | 52,460 | ||||||||||||
Other intangible assets, net, consisted of the following: | ||||||||||||||
March 31, 2014 | ||||||||||||||
Gross carrying | Accumulated | Net intangibles | Weighted Average Remaining Useful Life | |||||||||||
amount | amortization | |||||||||||||
(in thousands) | (in years) | |||||||||||||
Developed technology | $ | 4,801 | $ | (1,704 | ) | $ | 3,097 | 4.5 | ||||||
Customer relationships | 7,943 | (2,932 | ) | 5,011 | 4.9 | |||||||||
Trade names | 301 | (213 | ) | 88 | 1.2 | |||||||||
$ | 13,045 | $ | (4,849 | ) | $ | 8,196 | 4.7 | |||||||
December 31, 2013 | ||||||||||||||
Gross carrying | Accumulated | Net intangibles | Weighted Average Remaining Useful Life | |||||||||||
amount | amortization | |||||||||||||
(in thousands) | (in years) | |||||||||||||
Developed technology | $ | 1,874 | $ | (1,500 | ) | $ | 374 | 1.2 | ||||||
Customer relationships | 7,300 | (2,653 | ) | 4,647 | 5.1 | |||||||||
Trade names | 260 | (192 | ) | 68 | 1 | |||||||||
$ | 9,434 | $ | (4,345 | ) | $ | 5,089 | 4.8 | |||||||
Amortization expense associated with other intangible assets was $0.5 million for the three months ended March 31, 2014 and $0.4 million for the three months ended March 31, 2013. There was no impairment of intangible assets during the three months ended March 31, 2014 and 2013. | ||||||||||||||
Minimum future amortization expense for other intangible assets at March 31, 2014 was as follows: | ||||||||||||||
Amortization | ||||||||||||||
(in thousands) | ||||||||||||||
Remainder of fiscal 2014 | $ | 1,605 | ||||||||||||
2015 | 1,767 | |||||||||||||
2016 | 1,643 | |||||||||||||
2017 | 1,642 | |||||||||||||
2018 | 978 | |||||||||||||
2019 | 295 | |||||||||||||
Thereafter | 266 | |||||||||||||
$ | 8,196 | |||||||||||||
Income_Taxes
Income Taxes | 3 Months Ended |
Mar. 31, 2014 | |
Income Tax Disclosure [Abstract] | ' |
Income Taxes | ' |
We compute our interim provision for income taxes by applying the estimated annual effective tax rate to the year-to-date income from recurring operations and adjust the provision for discrete tax items recorded in the period. We evaluate and update our estimated annual effective income tax rate on a quarterly basis. The estimated effective tax rate for the three months ended March 31, 2014 and 2013 was 33.4% and 26.6%, respectively. | |
The difference between the federal statutory rate of 35% and our estimated effective tax rate for the three months ended March 31, 2014 was primarily due to our state income tax provision and non-deductible stock-based compensation expenses and limitations of tax deductions under Internal Revenue Code ("IRC") Section 162(m) for compensation paid to our executive officers, offset by the domestic production activities deduction under IRC Section 199 and disqualifying dispositions of stock-based awards. | |
Our tax positions are subject to income tax audits by multiple tax jurisdictions. We account for uncertain tax positions and believe that we have provided adequate reserves for our unrecognized tax benefits for all tax years still open for assessment. We also believe that we do not have any tax positions for which it is reasonably possible that the total amounts of unrecognized tax benefits will significantly increase or decrease within the next twelve months. | |
We have a policy to classify accrued interest and penalties associated with uncertain tax positions together with the related liability in the balance sheet, and to include the expenses incurred related to such accruals in the provision for income taxes. During the three months ended March 31, 2014, we included interest and penalties of $20 thousand in the provision for income taxes. |
Commitments_and_Contingencies
Commitments and Contingencies | 3 Months Ended |
Mar. 31, 2014 | |
Commitments and Contingencies Disclosure [Abstract] | ' |
Commitments and Contingencies | ' |
Legal Proceedings | |
On March 25, 2011, Industry Access Incorporated (“Industry Access”) filed a patent infringement lawsuit against us and another defendant in the U.S. District Court for the Central District of California. The complaint alleges, among other things, that certain aspects of our Encompass loan management software system and related operations infringe a single patent, and seeks declaratory relief and unspecified damages from the defendants, including enhanced damages for willful infringement and reasonable attorneys’ fees. On June 24, 2011, the Court issued an order requiring plaintiff to serve the complaint on all defendants within three days of the order. On June 28, 2011, plaintiff served us with the complaint and we filed its answer on August 5, 2011 denying all material allegations of the complaint. On November 18, 2011 the other defendant filed with the United States Patent and Trademark Office (the “PTO”) a request for ex parte reexamination of Industry Access’ US Patent No 7,769,681, which the PTO granted on February 14, 2012. On December 15, 2011, we filed a motion to stay the litigation pending the reexamination, which the Court granted on February 28, 2012. On October 9, 2012, the PTO issued the reexamination certificate. The Court granted a motion to dismiss the other defendant from this action on April 7, 2013 and lifted the stay on April 11, 2013. The parties are in the claims construction phase of the litigation with a claim construction hearing that was scheduled for December 2, 2013. Discovery is ongoing and the trial has been rescheduled for December 2014 as further discussed below. | |
On March 19, 2013, Industry Access filed a second patent infringement lawsuit against us in the U.S. District Court for the Central District of California. The complaint alleges, among other things, that our Encompass loan management software system, including the Encompass software, the Ellie Mae Network, Encompass Originator, Encompass Compliance Service, Encompass CenterWise, Encompass Electronic Document Management, Encompass Docs Solution and Encompass Product and Pricing Service, infringes U.S. Patent Nos. 8,117,120 and 8,145,563, which are continuations of U.S. Patent No. 7,769,681, asserted in the lawsuit described above. Plaintiff is seeking unspecified damages. On June 12, 2013, we filed a motion to dismiss or, in the alternative, to transfer this case to the Northern District of California, which the Court denied on September 18, 2013. Trial is set for December 2014. | |
On September 12, 2013, we filed a motion to relate and consolidate the two Industry Access lawsuits so that all of Industry Access’ related patent infringement claims would be heard before the same judge on the same schedule. Industry Access responded to this motion on October 11, 2013. The Court granted our motion to consolidate on October 31, 2013. The Court has scheduled the claim construction hearing for June 2, 2014. Trial is set for December 2014. | |
We believe that we have substantial and meritorious defenses in the newly consolidated case and, if similar claims are pursued, we intend to defend these and similar claims vigorously. | |
We are also subject to various other legal proceedings and claims arising in the ordinary course of business. With respect to these matters and the litigations described above, we cannot predict the ultimate outcome of these legal proceedings and the amounts and ranges of potential damages associated with such proceedings cannot be estimated or assessed. An unfavorable outcome of these or the litigation could materially adversely affect our business, financial condition and results of operations. |
Stock_Incentive_Plans
Stock Incentive Plans | 3 Months Ended | |||||||||||||
Mar. 31, 2014 | ||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | |||||||||||||
Stock Incentive Plans | ' | |||||||||||||
We recognize stock-based compensation related to awards granted under our 2009 Stock Option and Incentive Plan (the “2009 Plan”), 2011 Equity Incentive Award Plan (the “2011 Plan”) and ESPP. | ||||||||||||||
Total stock-based compensation expense recognized consisted of: | ||||||||||||||
Three Months ended March 31, | ||||||||||||||
2014 | 2013 | |||||||||||||
(in thousands) | ||||||||||||||
Cost of revenues | $ | 238 | $ | 99 | ||||||||||
Sales and marketing | 333 | 136 | ||||||||||||
Research and development | 736 | 685 | ||||||||||||
General and administrative | 2,003 | 2,453 | ||||||||||||
$ | 3,310 | $ | 3,373 | |||||||||||
Capitalized stock-based compensation for the three months ended March 31, 2014 was $54,000. Capitalized stock-based compensation for the three months ended March 31, 2013 was $15,000. | ||||||||||||||
2009 Stock Option and Incentive Plan and 2011 Equity Incentive Award Plan | ||||||||||||||
Stock Options | ||||||||||||||
The following table summarizes our stock option activity under the 2009 Plan and 2011 Plan: | ||||||||||||||
Number of | Weighted | Weighted | Aggregate | |||||||||||
Shares | Average | Average | Intrinsic | |||||||||||
Exercise | Remaining | Value | ||||||||||||
Price | Contractual | |||||||||||||
Term | ||||||||||||||
(in years) | (in thousands) | |||||||||||||
Outstanding at December 31, 2013 | 3,284,672 | $ | 11.17 | |||||||||||
Granted | 170,753 | $ | 25.87 | |||||||||||
Exercised | (275,211 | ) | $ | 5.27 | ||||||||||
Forfeited or expired | (9,153 | ) | $ | 17.45 | ||||||||||
Outstanding at March 31, 2014 | 3,171,061 | $ | 12.46 | 7.3 | $ | 51,998 | ||||||||
Ending vested and expected to vest at March 31, 2014 | 3,039,823 | $ | 12.12 | 7.24 | $ | 50,856 | ||||||||
Exercisable at March 31, 2014 | 1,660,712 | $ | 7.99 | 6.2 | $ | 34,622 | ||||||||
Stock options granted during the three months ended March 31, 2014 were made under the 2011 Plan. There were no grants under the 2009 Plan during the three months ended March 31, 2014. | ||||||||||||||
Intrinsic value of an option is the difference between the fair value of our common stock at the time of exercise and the exercise price to be paid. The aggregate intrinsic value for options outstanding at March 31, 2014 in the table above represents the total intrinsic value, based on our closing stock price of $28.84 as of March 31, 2014, which would have been received by option holders had all option holders exercised their in-the-money options as of that date. Options outstanding that are expected to vest are net of estimated future option forfeitures. | ||||||||||||||
Following is additional information pertaining to our stock option activity: | ||||||||||||||
Three Months ended March 31, | ||||||||||||||
2014 | 2013 | |||||||||||||
(in thousands, except | ||||||||||||||
per option amounts) | ||||||||||||||
Weighted average fair value per option granted | $ | 13.3 | $ | 10.49 | ||||||||||
Grant-date fair value of options vested | $ | 1,467 | $ | 1,024 | ||||||||||
Intrinsic value of options exercised | $ | 6,425 | $ | 3,359 | ||||||||||
Proceeds received from options exercised | $ | 1,448 | $ | 427 | ||||||||||
As of March 31, 2014, total unrecognized stock-based compensation expense related to unvested stock options, adjusted for estimated forfeitures, was $13.5 million and is expected to be recognized over a weighted average period of 2.5 years. | ||||||||||||||
Restricted Stock Units and Performance Awards | ||||||||||||||
In August 2012, the Company granted 147,000 Performance Awards (“2012 Performance Awards”) to designated participants under the 2011 Plan. The 2012 Performance Awards represented the right to receive between zero and 4 shares of the Company’s common stock upon achievement of certain performance goals during the performance period of July 1, 2012 through June 30, 2013. After the Company filed with the SEC its Quarterly Report on Form 10-Q for the quarter ended June 30, 2013, the Compensation Committee determined the level of achievement of the performance goals (the “Determination Date”), at which time the designated participants earned an aggregate of 588,000 shares of common stock. Of the issued shares, 25% were vested upon issuance and the remaining shares will vest 25% on each of the first three anniversaries of the Determination Date, subject to the continuous employment of the participant through such dates. No forfeitures are expected. | ||||||||||||||
In February 2013, the Company granted 113,000 Performance Awards (“2013 Performance Awards”) to designated participants under the 2011 Plan. The 2013 Performance Awards represent the right to receive shares of the Company’s common stock upon achievement of certain performance goals during the performance period of January 1, 2013 through December 31, 2013. In March 2014, after the Company filed with the SEC its Annual Report on Form 10-K for the year ended December 31, 2013, the Compensation Committee determined the level of achievement of the performance goals (the “2013 Award Determination Date”), at which time it was determined that the designated participants had earned an aggregate of 124,300 shares of common stock. The earned shares were issued in April 2014, with 25% of the shares vested upon issuance and the remaining shares to vest 25% on each of the first three anniversaries of the 2013 Award Determination Date, subject to the continuous employment of the participant through such dates. No forfeitures are expected. | ||||||||||||||
In February 2014, the Company granted 62,500 Performance Awards (“2014 Performance Awards”) to designated participants under the 2011 Plan. The 2014 Performance Awards represent the right to receive shares of the Company’s common stock upon achievement of certain performance goals during the performance period of January 1, 2014 through December 31, 2014. After the Company files with the SEC its Annual Report on Form 10-K for the year ending December 31, 2014, the Compensation Committee will determine the level of achievement of the performance goals (the “2014 Award Determination Date”), at which time the designated participants may earn between zero and 2.5 shares of common stock for each 2014 Performance Award. Shares of common stock earned, if any, will be issued after the 2014 Award Determination Date with 25% of the shares to vest upon issuance and the remaining shares to vest 25% on each of the first three anniversaries of the 2014 Award Determination Date, subject to the continuous employment of the participant through such dates. As of March 31, 2014, we expect that each award will convert to 1.45 shares of common stock on the 2014 Award Determination Date. No forfeitures are expected. | ||||||||||||||
The following table summarizes our RSU and Performance Award activity: | ||||||||||||||
RSUs | Performance Awards | |||||||||||||
Number of | Weighted | Number of | Weighted | |||||||||||
Shares | Average | Shares | Average | |||||||||||
Grant Date | Grant Date | |||||||||||||
Fair Value | Fair Value | |||||||||||||
Per Share | Per Share | |||||||||||||
Outstanding at December 31, 2013 | 257,378 | $ | 23.1 | 565,300 | $ | 24.43 | ||||||||
Granted | 153,162 | 27.91 | 90,625 | 24.93 | ||||||||||
Released | (3,125 | ) | 8.9 | — | — | |||||||||
Forfeited or expired | (2,205 | ) | 24.13 | — | — | |||||||||
Outstanding at March 31, 2014 | 405,210 | $ | 23.47 | 655,925 | $ | 24.5 | ||||||||
Ending vested and expected to vest at March 31, 2014 | 342,669 | 655,925 | ||||||||||||
RSUs and Performance Awards that are expected to vest are net of estimated future forfeitures. RSUs released during the three months ended March 31, 2014 and 2013 had an aggregate intrinsic value of $98 thousand and $62 thousand, respectively and had an aggregate grant-date fair value of $28 thousand and $28 thousand, respectively. There were no Performance Awards released during the three months ended March 31, 2014 and 2013. The number of RSUs released includes shares that we withheld on behalf of employees to satisfy the minimum statutory tax withholding requirements. | ||||||||||||||
As of March 31, 2014, total unrecognized compensation expense related to unvested RSUs and Performance Awards was $18.1 million and is expected to be recognized over a weighted average period of 2.7 years. | ||||||||||||||
Employee Stock Purchase Plan | ||||||||||||||
For the three months ended March 31, 2014 and 2013, employees purchased 45,746 shares and 54,728 shares, respectively, under the ESPP for a total of $1.2 million and $0.9 million, respectively. As of March 31, 2014, unrecognized compensation expense related to the current ESPP period, which ends on August 29, 2014, was $0.4 million and is expected to be recognized over five months. | ||||||||||||||
Valuation Information | ||||||||||||||
The fair value of stock options and stock purchase rights granted under the 2009 Plan, the 2011 Plan and the ESPP were estimated at the date of grant using the Black-Scholes option valuation model with the following weighted average assumptions: | ||||||||||||||
Three Months ended March 31, | ||||||||||||||
2014 | 2013 | |||||||||||||
Stock option plans: | ||||||||||||||
Risk-free interest rate | 1.85-1.98 | % | 1.15 | % | ||||||||||
Expected life of options (in years) | 6.08 | 6.08 | ||||||||||||
Expected dividend yield | — | % | — | % | ||||||||||
Volatility | 51-53 | % | 53 | % | ||||||||||
Employee Stock Purchase Plan: | ||||||||||||||
Risk-free interest rate | 0.08 | % | 0.13 | % | ||||||||||
Expected life of options (in years) | 0.5 | 0.5 | ||||||||||||
Expected dividend yield | — | % | — | % | ||||||||||
Volatility | 39 | % | 37 | % | ||||||||||
Common Stock | ||||||||||||||
The following numbers of shares of common stock were reserved and available for future issuance at March 31, 2014: | ||||||||||||||
Reserved | ||||||||||||||
Shares | ||||||||||||||
Options and awards outstanding under stock incentive plans | 4,232,196 | |||||||||||||
Shares available for future grant under the stock incentive plan | 3,113,550 | |||||||||||||
Shares available under the Employee Stock Purchase Plan | 1,082,886 | |||||||||||||
Total | 8,428,632 | |||||||||||||
In February 2014, 276,240 additional shares were reserved under the ESPP and 1,381,201 additional shares were reserved under the 2011 Plan, pursuant to the automatic increase provisions in each plan. |
Segment_Information
Segment Information | 3 Months Ended | |||||||
Mar. 31, 2014 | ||||||||
Segment Reporting [Abstract] | ' | |||||||
Segment Information | ' | |||||||
We operate in one industry—mortgage-related software and services. Our chief operating decision makers are our chief executive officer and president and chief operating officer, who make decisions about resource allocation and review financial information presented on a consolidated basis. Accordingly, we have determined that we have a single reporting segment and operating unit structure, specifically technology-enabled solutions to help streamline and automate the residential mortgage origination process for our network participants. | ||||||||
We are organized primarily on the basis of service lines. Supplemental disclosure of revenues by type is as follows: | ||||||||
Three Months ended March 31, | ||||||||
2014 | 2013 | |||||||
(in thousands) | ||||||||
On-demand revenues | $ | 30,146 | $ | 27,951 | ||||
On-premise revenues | 2,032 | 2,904 | ||||||
$ | 32,178 | $ | 30,855 | |||||
In the Notes to our condensed consolidated financial statements on our Quarterly Report on Form 10-Q for the quarter ended March 31, 2013, we included all revenues from professional services in on-premise revenues in our disclosure related to revenues by type. For the quarter ended March 31, 2014, we included professional services revenues in either on-demand revenues or on-premise revenues as determined by the related service or software license revenue. We have retrospectively reclassified our disclosure of on-demand and on-premise revenues for the three months ended March 31, 2013 in order to conform to the current presentation. |
Basis_of_Presentation_and_Sign1
Basis of Presentation and Significant Accounting Policies (Policies) | 3 Months Ended |
Mar. 31, 2014 | |
Accounting Policies [Abstract] | ' |
Principles of Consolidation [Policy Text Block] | ' |
Principles of Consolidation | |
The condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All intercompany balances and transactions have been eliminated. | |
Certain reclassifications have been made to prior period amounts to conform to current period presentation. Such reclassifications have no effect on revenues, income from operations or net income as previously reported. | |
Use of Estimates, Policy [Policy Text Block] | ' |
Use of Estimates | |
The preparation of condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. | |
Significant Accounting Policies [Text Block] | ' |
Significant Accounting Policies | |
Our significant accounting policies are described in Note 2 of the Notes to Consolidated Financial Statements in our 2013 Form 10-K. There have been no significant changes to these policies. | |
Comprehensive Income [Policy Text Block] | ' |
Comprehensive Income | |
Comprehensive income consists of net income and other comprehensive loss. Other comprehensive loss includes certain changes in equity that are excluded from net income, specifically unrealized losses on available-for-sale investments. Except for net realized gain (loss) on investments which was not significant, there were no reclassifications out of accumulated other comprehensive income (“AOCI”) that affected net income during the three months ended March 31, 2014 and 2013 | |
New Accounting Pronouncements, Policy [Policy Text Block] | ' |
Recent Accounting Pronouncements | |
In July 2013, the Financial Accounting Standards Board issued Accounting Standards Update No. 2013-11, Topic 740 - Income Taxes (“ASU 2013-11”), which provides guidance to improve the presentation of an unrecognized benefit when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exists. ASU 2013-11 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2013. We adopted ASU 2013-11 on January 1, 2014 and this adoption did not have a material impact on our consolidated financial statements. |
Basis_of_Presentation_and_Sign2
Basis of Presentation and Significant Accounting Policies Other income (expense), net (Tables) | 3 Months Ended | |||||
Mar. 31, 2014 | ||||||
Other Income and Expenses [Abstract] | ' | |||||
Schedule of Other Nonoperating Income (Expense) [Table Text Block] | ' | |||||
Other income, net consisted of the following: | ||||||
Three Months ended March 31, | ||||||
2014 | 2013 | |||||
(in thousands) | ||||||
Interest income | 122 | 163 | ||||
Net realized gain (loss) on investments | 1 | (1 | ) | |||
Interest expense | (23 | ) | (41 | ) | ||
Total other income, net | 100 | 121 | ||||
Net_Income_Loss_Per_Share_of_C1
Net Income (Loss) Per Share of Common Stock (Tables) | 3 Months Ended | |||||||
Mar. 31, 2014 | ||||||||
Earnings Per Share [Abstract] | ' | |||||||
Components of net income (loss) per share of common stock | ' | |||||||
The components of net income per share of common stock were as follows: | ||||||||
Three Months ended March 31, | ||||||||
2014 | 2013 | |||||||
(in thousands, except share and per share amounts) | ||||||||
Net income | $ | 782 | $ | 3,913 | ||||
Basic shares: | ||||||||
Weighted average common shares outstanding | 27,339,394 | 26,166,290 | ||||||
Diluted shares: | ||||||||
Weighted average shares used to compute basic net income per share | 27,339,394 | 26,166,290 | ||||||
Effect of potentially dilutive securities: | ||||||||
Employee stock options, RSUs, Performance Awards and ESPP shares | 1,730,736 | 1,795,866 | ||||||
Weighted average shares used to compute diluted net income per share | 29,070,130 | 27,962,156 | ||||||
Net income per share: | ||||||||
Basic | $ | 0.03 | $ | 0.15 | ||||
Diluted | $ | 0.03 | $ | 0.14 | ||||
Common shares excluded from computation of diluted net income (loss) per share | ' | |||||||
The following potential common shares were excluded from the computation of diluted net income per share, as their effect would have been anti-dilutive: | ||||||||
Three Months ended March 31, | ||||||||
2014 | 2013 | |||||||
Employee stock options and awards | 910,812 | 348,202 | ||||||
Financial_Instruments_and_Fair1
Financial Instruments and Fair Value Measurements (Tables) | 3 Months Ended | |||||||||||||||||||||||
Mar. 31, 2014 | ||||||||||||||||||||||||
Financial Instruments and Fair Value Measurements [Abstract] | ' | |||||||||||||||||||||||
Schedule of Available-for-sale Securities Reconciliation [Table Text Block] | ' | |||||||||||||||||||||||
The carrying amounts, gross unrealized gains and losses and estimated fair value of cash and cash equivalents and both short and long-term investments consisted of the following: | ||||||||||||||||||||||||
March 31, 2014 | ||||||||||||||||||||||||
Amortized | Unrealized gains | Unrealized losses | Carrying or | |||||||||||||||||||||
cost | fair value | |||||||||||||||||||||||
(in thousands) | ||||||||||||||||||||||||
Cash and cash equivalents: | ||||||||||||||||||||||||
Cash | $ | 11,248 | $ | — | $ | — | $ | 11,248 | ||||||||||||||||
Money market funds | 15,175 | — | — | 15,175 | ||||||||||||||||||||
$ | 26,423 | $ | — | $ | — | $ | 26,423 | |||||||||||||||||
Investments: | ||||||||||||||||||||||||
Corporate notes and obligations | $ | 29,184 | $ | 25 | $ | (13 | ) | $ | 29,196 | |||||||||||||||
Certificates of deposit | 15,000 | 11 | (13 | ) | 14,998 | |||||||||||||||||||
Municipal obligations | 3,108 | 7 | — | 3,115 | ||||||||||||||||||||
U.S. government notes | 20,662 | 6 | (46 | ) | 20,622 | |||||||||||||||||||
U.S. government agency securities | 38,934 | 18 | (32 | ) | 38,920 | |||||||||||||||||||
$ | 106,888 | $ | 67 | $ | (104 | ) | $ | 106,851 | ||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||
Amortized | Unrealized gains | Unrealized losses | Carrying or | |||||||||||||||||||||
cost | fair value | |||||||||||||||||||||||
(in thousands) | ||||||||||||||||||||||||
Cash and cash equivalents: | ||||||||||||||||||||||||
Cash | $ | 14,092 | $ | — | $ | — | $ | 14,092 | ||||||||||||||||
Money market funds | 16,431 | — | — | 16,431 | ||||||||||||||||||||
U.S. government agency securities | 2,939 | — | — | 2,939 | ||||||||||||||||||||
$ | 33,462 | $ | — | $ | — | $ | 33,462 | |||||||||||||||||
Investments: | ||||||||||||||||||||||||
Corporate notes and obligations | $ | 26,770 | $ | 17 | $ | (13 | ) | $ | 26,774 | |||||||||||||||
Certificates of deposit | 14,945 | 1 | (26 | ) | 14,920 | |||||||||||||||||||
Municipal obligations | 3,827 | 5 | (2 | ) | 3,830 | |||||||||||||||||||
U.S. government notes | 11,430 | 3 | (5 | ) | 11,428 | |||||||||||||||||||
U.S. government agency securities | 45,672 | 12 | (26 | ) | 45,658 | |||||||||||||||||||
$ | 102,644 | $ | 38 | $ | (72 | ) | $ | 102,610 | ||||||||||||||||
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value [Table Text Block] | ' | |||||||||||||||||||||||
The following table shows the gross unrealized losses and the related fair values of our investments that have been in a continuous unrealized loss position: | ||||||||||||||||||||||||
March 31, 2014 | ||||||||||||||||||||||||
Less than 12 Months | 12 Months or Greater | Total | ||||||||||||||||||||||
Fair Value | Unrealized losses | Fair Value | Unrealized losses | Fair Value | Unrealized losses | |||||||||||||||||||
(in thousands) | ||||||||||||||||||||||||
Corporate notes and obligations | $ | 9,336 | $ | (13 | ) | $ | — | $ | — | $ | 9,336 | $ | (13 | ) | ||||||||||
Certificates of deposit | 6,412 | (13 | ) | — | — | 6,412 | (13 | ) | ||||||||||||||||
U.S. government notes | 7,780 | (46 | ) | — | — | 7,780 | (46 | ) | ||||||||||||||||
U.S. government agency securities | 16,272 | (32 | ) | — | — | 16,272 | (32 | ) | ||||||||||||||||
$ | 39,800 | $ | (104 | ) | $ | — | $ | — | $ | 39,800 | $ | (104 | ) | |||||||||||
31-Dec-13 | ||||||||||||||||||||||||
Less than 12 Months | 12 Months or Greater | Total | ||||||||||||||||||||||
Fair Value | Unrealized losses | Fair Value | Unrealized losses | Fair Value | Unrealized losses | |||||||||||||||||||
(in thousands) | ||||||||||||||||||||||||
Corporate notes and obligations | $ | 6,403 | $ | (13 | ) | $ | — | $ | — | $ | 6,403 | $ | (13 | ) | ||||||||||
Certificates of deposit | 12,714 | (26 | ) | — | — | 12,714 | (26 | ) | ||||||||||||||||
Municipal obligations | 552 | (2 | ) | — | — | 552 | (2 | ) | ||||||||||||||||
U.S. government notes | 4,361 | (5 | ) | — | — | 4,361 | (5 | ) | ||||||||||||||||
U.S. government agency securities | 20,614 | (26 | ) | — | — | 20,614 | (26 | ) | ||||||||||||||||
$ | 44,644 | $ | (72 | ) | $ | — | $ | — | $ | 44,644 | $ | (72 | ) | |||||||||||
Fair value hierarchy of Company's financial assets on recurring basis | ' | |||||||||||||||||||||||
The following tables set forth by level within the fair value hierarchy the Company’s financial assets that were accounted for at fair value on a recurring basis, according to the valuation techniques the Company used to determine their values: | ||||||||||||||||||||||||
Fair value at | Fair value measurements | |||||||||||||||||||||||
using inputs considered as | ||||||||||||||||||||||||
March 31, 2014 | Level 1 | Level 2 | Level 3 | |||||||||||||||||||||
(in thousands) | ||||||||||||||||||||||||
Money market funds | $ | 15,175 | $ | 15,175 | $ | — | $ | — | ||||||||||||||||
Certificates of deposit | 14,998 | — | 14,998 | — | ||||||||||||||||||||
Corporate notes and obligations | 29,196 | — | 29,196 | — | ||||||||||||||||||||
Municipal obligations | 3,115 | — | 3,115 | — | ||||||||||||||||||||
U.S. government and government agency obligations | 59,542 | 13,982 | 45,560 | — | ||||||||||||||||||||
$ | 122,026 | $ | 29,157 | $ | 92,869 | $ | — | |||||||||||||||||
Fair value at | Fair value measurements | |||||||||||||||||||||||
using inputs considered as | ||||||||||||||||||||||||
December 31, 2013 | Level 1 | Level 2 | Level 3 | |||||||||||||||||||||
(in thousands) | ||||||||||||||||||||||||
Money market funds | $ | 16,431 | $ | 16,431 | $ | — | $ | — | ||||||||||||||||
Certificates of deposit | 14,920 | — | 14,920 | — | ||||||||||||||||||||
Corporate notes and obligations | 26,774 | — | 26,774 | — | ||||||||||||||||||||
Municipal obligations | 3,830 | — | 3,830 | — | ||||||||||||||||||||
U.S. government and government agency obligations | 60,018 | 11,428 | 48,590 | — | ||||||||||||||||||||
$ | 121,973 | $ | 27,859 | $ | 94,114 | $ | — | |||||||||||||||||
Summary of the maturities of the Company's investments | ' | |||||||||||||||||||||||
The following table summarizes the maturities of the Company’s investments at March 31, 2014: | ||||||||||||||||||||||||
Carrying or | ||||||||||||||||||||||||
fair value | ||||||||||||||||||||||||
(in thousands) | ||||||||||||||||||||||||
Remainder of 2014 | $ | 32,348 | ||||||||||||||||||||||
2015 | 39,990 | |||||||||||||||||||||||
2016 | 26,186 | |||||||||||||||||||||||
2017 | 8,327 | |||||||||||||||||||||||
Total | $ | 106,851 | ||||||||||||||||||||||
Acquisitions_Tables
Acquisitions (Tables) | 3 Months Ended | |||
Mar. 31, 2014 | ||||
Business Combinations [Abstract] | ' | |||
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | ' | |||
The allocation of the consideration of $5.0 million to the identifiable tangible and intangible assets acquired and liabilities assumed under the purchase method of accounting, based on their estimated fair values as of the acquisition date, is summarized in the following table (in thousands): | ||||
Amortizable intangible assets: | ||||
Developed technology | $ | 2,927 | ||
Customer relationships | 643 | |||
Trade name | 41 | |||
Goodwill | 1,409 | |||
Total purchase price | $ | 5,020 | ||
Goodwill_and_Other_Intangible_1
Goodwill and Other Intangible Assets (Tables) | 3 Months Ended | |||||||||||||
Mar. 31, 2014 | ||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | |||||||||||||
Schedule of Goodwill [Table Text Block] | ' | |||||||||||||
The changes in the carrying value of goodwill during the three months ended March 31, 2014 were as follows (in thousands): | ||||||||||||||
Balance at January 1, 2014 | $ | 51,051 | ||||||||||||
Addition: MortgageCEO acquisition | 1,409 | |||||||||||||
Balance at March 31, 2014 | $ | 52,460 | ||||||||||||
Other intangible assets, net | ' | |||||||||||||
Other intangible assets, net, consisted of the following: | ||||||||||||||
March 31, 2014 | ||||||||||||||
Gross carrying | Accumulated | Net intangibles | Weighted Average Remaining Useful Life | |||||||||||
amount | amortization | |||||||||||||
(in thousands) | (in years) | |||||||||||||
Developed technology | $ | 4,801 | $ | (1,704 | ) | $ | 3,097 | 4.5 | ||||||
Customer relationships | 7,943 | (2,932 | ) | 5,011 | 4.9 | |||||||||
Trade names | 301 | (213 | ) | 88 | 1.2 | |||||||||
$ | 13,045 | $ | (4,849 | ) | $ | 8,196 | 4.7 | |||||||
December 31, 2013 | ||||||||||||||
Gross carrying | Accumulated | Net intangibles | Weighted Average Remaining Useful Life | |||||||||||
amount | amortization | |||||||||||||
(in thousands) | (in years) | |||||||||||||
Developed technology | $ | 1,874 | $ | (1,500 | ) | $ | 374 | 1.2 | ||||||
Customer relationships | 7,300 | (2,653 | ) | 4,647 | 5.1 | |||||||||
Trade names | 260 | (192 | ) | 68 | 1 | |||||||||
$ | 9,434 | $ | (4,345 | ) | $ | 5,089 | 4.8 | |||||||
Minimum future amortization expense for intangible assets | ' | |||||||||||||
Minimum future amortization expense for other intangible assets at March 31, 2014 was as follows: | ||||||||||||||
Amortization | ||||||||||||||
(in thousands) | ||||||||||||||
Remainder of fiscal 2014 | $ | 1,605 | ||||||||||||
2015 | 1,767 | |||||||||||||
2016 | 1,643 | |||||||||||||
2017 | 1,642 | |||||||||||||
2018 | 978 | |||||||||||||
2019 | 295 | |||||||||||||
Thereafter | 266 | |||||||||||||
$ | 8,196 | |||||||||||||
Stock_Incentive_Plans_Tables
Stock Incentive Plans (Tables) | 3 Months Ended | |||||||||||||
Mar. 31, 2014 | ||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | |||||||||||||
Stock-based compensation expense | ' | |||||||||||||
Total stock-based compensation expense recognized consisted of: | ||||||||||||||
Three Months ended March 31, | ||||||||||||||
2014 | 2013 | |||||||||||||
(in thousands) | ||||||||||||||
Cost of revenues | $ | 238 | $ | 99 | ||||||||||
Sales and marketing | 333 | 136 | ||||||||||||
Research and development | 736 | 685 | ||||||||||||
General and administrative | 2,003 | 2,453 | ||||||||||||
$ | 3,310 | $ | 3,373 | |||||||||||
Summary of Company's stock option activities | ' | |||||||||||||
The following table summarizes our stock option activity under the 2009 Plan and 2011 Plan: | ||||||||||||||
Number of | Weighted | Weighted | Aggregate | |||||||||||
Shares | Average | Average | Intrinsic | |||||||||||
Exercise | Remaining | Value | ||||||||||||
Price | Contractual | |||||||||||||
Term | ||||||||||||||
(in years) | (in thousands) | |||||||||||||
Outstanding at December 31, 2013 | 3,284,672 | $ | 11.17 | |||||||||||
Granted | 170,753 | $ | 25.87 | |||||||||||
Exercised | (275,211 | ) | $ | 5.27 | ||||||||||
Forfeited or expired | (9,153 | ) | $ | 17.45 | ||||||||||
Outstanding at March 31, 2014 | 3,171,061 | $ | 12.46 | 7.3 | $ | 51,998 | ||||||||
Ending vested and expected to vest at March 31, 2014 | 3,039,823 | $ | 12.12 | 7.24 | $ | 50,856 | ||||||||
Exercisable at March 31, 2014 | 1,660,712 | $ | 7.99 | 6.2 | $ | 34,622 | ||||||||
Stock options granted during the three months ended March 31, 2014 were made under the 2011 Plan. There were no grants under the 2009 Plan during the three months ended March 31, 2014. | ||||||||||||||
Stock options activity, additional information | ' | |||||||||||||
Following is additional information pertaining to our stock option activity: | ||||||||||||||
Three Months ended March 31, | ||||||||||||||
2014 | 2013 | |||||||||||||
(in thousands, except | ||||||||||||||
per option amounts) | ||||||||||||||
Weighted average fair value per option granted | $ | 13.3 | $ | 10.49 | ||||||||||
Grant-date fair value of options vested | $ | 1,467 | $ | 1,024 | ||||||||||
Intrinsic value of options exercised | $ | 6,425 | $ | 3,359 | ||||||||||
Proceeds received from options exercised | $ | 1,448 | $ | 427 | ||||||||||
Summary of RSU activities | ' | |||||||||||||
The following table summarizes our RSU and Performance Award activity: | ||||||||||||||
RSUs | Performance Awards | |||||||||||||
Number of | Weighted | Number of | Weighted | |||||||||||
Shares | Average | Shares | Average | |||||||||||
Grant Date | Grant Date | |||||||||||||
Fair Value | Fair Value | |||||||||||||
Per Share | Per Share | |||||||||||||
Outstanding at December 31, 2013 | 257,378 | $ | 23.1 | 565,300 | $ | 24.43 | ||||||||
Granted | 153,162 | 27.91 | 90,625 | 24.93 | ||||||||||
Released | (3,125 | ) | 8.9 | — | — | |||||||||
Forfeited or expired | (2,205 | ) | 24.13 | — | — | |||||||||
Outstanding at March 31, 2014 | 405,210 | $ | 23.47 | 655,925 | $ | 24.5 | ||||||||
Ending vested and expected to vest at March 31, 2014 | 342,669 | 655,925 | ||||||||||||
Schedule of Stock Options and Employee Stock Purchase Plan Valuation Assumptions | ' | |||||||||||||
The fair value of stock options and stock purchase rights granted under the 2009 Plan, the 2011 Plan and the ESPP were estimated at the date of grant using the Black-Scholes option valuation model with the following weighted average assumptions: | ||||||||||||||
Three Months ended March 31, | ||||||||||||||
2014 | 2013 | |||||||||||||
Stock option plans: | ||||||||||||||
Risk-free interest rate | 1.85-1.98 | % | 1.15 | % | ||||||||||
Expected life of options (in years) | 6.08 | 6.08 | ||||||||||||
Expected dividend yield | — | % | — | % | ||||||||||
Volatility | 51-53 | % | 53 | % | ||||||||||
Employee Stock Purchase Plan: | ||||||||||||||
Risk-free interest rate | 0.08 | % | 0.13 | % | ||||||||||
Expected life of options (in years) | 0.5 | 0.5 | ||||||||||||
Expected dividend yield | — | % | — | % | ||||||||||
Volatility | 39 | % | 37 | % | ||||||||||
ScheduleOfSharesOfCommonStockAvailableForFutureIssuanceUnderStockOptionPlansTextBlock [Table Text Block] | ' | |||||||||||||
The following numbers of shares of common stock were reserved and available for future issuance at March 31, 2014: | ||||||||||||||
Reserved | ||||||||||||||
Shares | ||||||||||||||
Options and awards outstanding under stock incentive plans | 4,232,196 | |||||||||||||
Shares available for future grant under the stock incentive plan | 3,113,550 | |||||||||||||
Shares available under the Employee Stock Purchase Plan | 1,082,886 | |||||||||||||
Total | 8,428,632 | |||||||||||||
Segment_Information_Tables
Segment Information (Tables) | 3 Months Ended | |||||||
Mar. 31, 2014 | ||||||||
Segment Reporting [Abstract] | ' | |||||||
Supplemental disclosure of revenue by service type | ' | |||||||
Supplemental disclosure of revenues by type is as follows: | ||||||||
Three Months ended March 31, | ||||||||
2014 | 2013 | |||||||
(in thousands) | ||||||||
On-demand revenues | $ | 30,146 | $ | 27,951 | ||||
On-premise revenues | 2,032 | 2,904 | ||||||
$ | 32,178 | $ | 30,855 | |||||
Basis_of_Presentation_and_Sign3
Basis of Presentation and Significant Accounting Policies Other income (expense) net (Details) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Other Income and Expenses [Abstract] | ' | ' |
Interest income | $122 | $163 |
Net realized gain (loss) on investments | 1 | -1 |
Interest Expense | -23 | -41 |
Total other income, net | $100 | $121 |
Net_Income_Loss_Per_Share_of_C2
Net Income (Loss) Per Share of Common Stock (Details Table) (USD $) | 3 Months Ended | |
In Thousands, except Share data, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Components of net income (loss) per share | ' | ' |
Net income | $782 | $3,913 |
Basic shares: | ' | ' |
Weighted average common shares outstanding | 27,339,394 | 26,166,290 |
Diluted shares: | ' | ' |
Weighted average common shares outstanding | 27,339,394 | 26,166,290 |
Effect of potentially dilutive securities: | ' | ' |
Weighted Average Number Diluted Shares Outstanding Adjustment | 1,730,736 | 1,795,866 |
Weighted average shares used to compute diluted net loss per share | 29,070,130 | 27,962,156 |
Net income (loss) per share: | ' | ' |
Basic | $0.03 | $0.15 |
Diluted | $0.03 | $0.14 |
Net_Income_Loss_Per_Share_of_C3
Net Income (Loss) Per Share of Common Stock (Details Table 1) (Employee Stock Options and Awards [Member]) | 3 Months Ended | |
Mar. 31, 2014 | Mar. 31, 2013 | |
Employee Stock Options and Awards [Member] | ' | ' |
Antidilutive securities excluded from computation of earning per share | ' | ' |
Anti-dilutive securities excluded from computation of earnings per share amount | 910,812 | 348,202 |
Net_Income_Loss_Per_Share_of_C4
Net Income (Loss) Per Share of Common Stock (Details Textual) (Performance-Based Awards [Member]) | 3 Months Ended | |
Mar. 31, 2014 | Mar. 31, 2013 | |
Performance-Based Awards [Member] | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' |
Anti-dilutive securities excluded from computation of earnings per share amount | 90,625 | 635,483 |
Financial_Instruments_and_Fair2
Financial Instruments and Fair Value Measurements (Fair Value Hierarchy) (Details) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Estimate of Fair Value [Member] | ' | ' |
Fair value hierarchy of Company's financial assets on recurring basis | ' | ' |
Assets, Fair Value | $122,026 | $121,973 |
Level 1 [Member] | ' | ' |
Fair value hierarchy of Company's financial assets on recurring basis | ' | ' |
Assets, Fair Value | 29,157 | 27,859 |
Level 2 [Member] | ' | ' |
Fair value hierarchy of Company's financial assets on recurring basis | ' | ' |
Assets, Fair Value | 92,869 | 94,114 |
Level 3 [Member] | ' | ' |
Fair value hierarchy of Company's financial assets on recurring basis | ' | ' |
Assets, Fair Value | 0 | 0 |
Money market funds [Member] | Estimate of Fair Value [Member] | ' | ' |
Fair value hierarchy of Company's financial assets on recurring basis | ' | ' |
Assets, Fair Value | 15,175 | 16,431 |
Money market funds [Member] | Level 1 [Member] | ' | ' |
Fair value hierarchy of Company's financial assets on recurring basis | ' | ' |
Assets, Fair Value | 15,175 | 16,431 |
Money market funds [Member] | Level 2 [Member] | ' | ' |
Fair value hierarchy of Company's financial assets on recurring basis | ' | ' |
Assets, Fair Value | 0 | 0 |
Money market funds [Member] | Level 3 [Member] | ' | ' |
Fair value hierarchy of Company's financial assets on recurring basis | ' | ' |
Assets, Fair Value | 0 | 0 |
Certificates of Deposit [Member] | Estimate of Fair Value [Member] | ' | ' |
Fair value hierarchy of Company's financial assets on recurring basis | ' | ' |
Assets, Fair Value | 14,998 | 14,920 |
Certificates of Deposit [Member] | Level 1 [Member] | ' | ' |
Fair value hierarchy of Company's financial assets on recurring basis | ' | ' |
Assets, Fair Value | 0 | 0 |
Certificates of Deposit [Member] | Level 2 [Member] | ' | ' |
Fair value hierarchy of Company's financial assets on recurring basis | ' | ' |
Assets, Fair Value | 14,998 | 14,920 |
Certificates of Deposit [Member] | Level 3 [Member] | ' | ' |
Fair value hierarchy of Company's financial assets on recurring basis | ' | ' |
Assets, Fair Value | 0 | 0 |
Corporate Debt Securities [Member] | Estimate of Fair Value [Member] | ' | ' |
Fair value hierarchy of Company's financial assets on recurring basis | ' | ' |
Assets, Fair Value | 29,196 | 26,774 |
Corporate Debt Securities [Member] | Level 1 [Member] | ' | ' |
Fair value hierarchy of Company's financial assets on recurring basis | ' | ' |
Assets, Fair Value | 0 | 0 |
Corporate Debt Securities [Member] | Level 2 [Member] | ' | ' |
Fair value hierarchy of Company's financial assets on recurring basis | ' | ' |
Assets, Fair Value | 29,196 | 26,774 |
Corporate Debt Securities [Member] | Level 3 [Member] | ' | ' |
Fair value hierarchy of Company's financial assets on recurring basis | ' | ' |
Assets, Fair Value | 0 | 0 |
Municipal Bonds [Member] | Estimate of Fair Value [Member] | ' | ' |
Fair value hierarchy of Company's financial assets on recurring basis | ' | ' |
Assets, Fair Value | 3,115 | 3,830 |
Municipal Bonds [Member] | Level 1 [Member] | ' | ' |
Fair value hierarchy of Company's financial assets on recurring basis | ' | ' |
Assets, Fair Value | 0 | 0 |
Municipal Bonds [Member] | Level 2 [Member] | ' | ' |
Fair value hierarchy of Company's financial assets on recurring basis | ' | ' |
Assets, Fair Value | 3,115 | 3,830 |
Municipal Bonds [Member] | Level 3 [Member] | ' | ' |
Fair value hierarchy of Company's financial assets on recurring basis | ' | ' |
Assets, Fair Value | 0 | 0 |
US Government and Governmental agency obligations [Member] | Estimate of Fair Value [Member] | ' | ' |
Fair value hierarchy of Company's financial assets on recurring basis | ' | ' |
Assets, Fair Value | 59,542 | 60,018 |
US Government and Governmental agency obligations [Member] | Level 1 [Member] | ' | ' |
Fair value hierarchy of Company's financial assets on recurring basis | ' | ' |
Assets, Fair Value | 13,982 | 11,428 |
US Government and Governmental agency obligations [Member] | Level 2 [Member] | ' | ' |
Fair value hierarchy of Company's financial assets on recurring basis | ' | ' |
Assets, Fair Value | 45,560 | 48,590 |
US Government and Governmental agency obligations [Member] | Level 3 [Member] | ' | ' |
Fair value hierarchy of Company's financial assets on recurring basis | ' | ' |
Assets, Fair Value | $0 | $0 |
Financial_Instruments_and_Fair3
Financial Instruments and Fair Value Measurements (Carrying Amounts and Fair Value) (Details) (USD $) | 3 Months Ended | 12 Months Ended | ||
In Thousands, unless otherwise specified | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2013 | Dec. 31, 2012 |
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | $39,800 | $44,644 | ' | ' |
Cash | 11,248 | 14,092 | ' | ' |
Money market funds | 15,175 | 16,431 | ' | ' |
Cash and Cash Equivalents, at Carrying Value | 26,423 | 33,462 | 25,916 | 44,114 |
Available-for-sale Securities, Amortized Cost Basis | 106,888 | 102,644 | ' | ' |
Short-term investments | 48,833 | 46,325 | ' | ' |
Available-For-Sale Securities, Accumulated Gross Unrealized Gain, Before Tax | 67 | 38 | ' | ' |
Available-For-Sale Securities, Accumulated Gross Unrealized Loss, Before Tax | -104 | -72 | ' | ' |
Long-term investments | 58,018 | 56,285 | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Loss | -104 | -72 | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 0 | 0 | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Loss | 0 | 0 | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 39,800 | 44,644 | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Loss | 104 | 72 | ' | ' |
Available-for-sale Securities | 106,851 | 102,610 | ' | ' |
Municipal Bonds [Member] | ' | ' | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | ' | 552 | ' | ' |
Available-for-sale Securities, Amortized Cost Basis | 3,108 | 3,827 | ' | ' |
Short-term investments | 3,115 | 3,830 | ' | ' |
Available-For-Sale Securities, Accumulated Gross Unrealized Gain, Before Tax | 7 | 5 | ' | ' |
Available-For-Sale Securities, Accumulated Gross Unrealized Loss, Before Tax | 0 | -2 | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Loss | ' | -2 | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | ' | 0 | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Loss | ' | 0 | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | ' | 552 | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Loss | ' | 2 | ' | ' |
US Government Agencies Debt Securities [Member] | ' | ' | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 16,272 | 20,614 | ' | ' |
Available-for-sale Securities, Amortized Cost Basis | 38,934 | 45,672 | ' | ' |
Short-term investments | 38,920 | 45,658 | ' | ' |
Available-For-Sale Securities, Accumulated Gross Unrealized Gain, Before Tax | 18 | 12 | ' | ' |
Available-For-Sale Securities, Accumulated Gross Unrealized Loss, Before Tax | -32 | -26 | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Loss | -32 | -26 | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 0 | 0 | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Loss | 0 | 0 | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 16,272 | 20,614 | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Loss | 32 | 26 | ' | ' |
US Treasury Securities [Member] | ' | ' | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 7,780 | 4,361 | ' | ' |
Available-for-sale Securities, Amortized Cost Basis | 20,662 | 11,430 | ' | ' |
Available-For-Sale Securities, Accumulated Gross Unrealized Gain, Before Tax | 6 | 3 | ' | ' |
Available-For-Sale Securities, Accumulated Gross Unrealized Loss, Before Tax | -46 | -5 | ' | ' |
Long-term investments | 20,622 | 11,428 | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Loss | -46 | -5 | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 0 | 0 | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Loss | 0 | 0 | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 7,780 | 4,361 | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Loss | 46 | 5 | ' | ' |
Certificates of Deposit [Member] | ' | ' | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 6,412 | 12,714 | ' | ' |
Available-for-sale Securities, Amortized Cost Basis | 15,000 | 14,945 | ' | ' |
Short-term investments | 14,998 | 14,920 | ' | ' |
Available-For-Sale Securities, Accumulated Gross Unrealized Gain, Before Tax | 11 | 1 | ' | ' |
Available-For-Sale Securities, Accumulated Gross Unrealized Loss, Before Tax | -13 | -26 | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Loss | -13 | -26 | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 0 | 0 | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Loss | 0 | 0 | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 6,412 | 12,714 | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Loss | 13 | 26 | ' | ' |
Corporate Note Securities [Member] | ' | ' | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 9,336 | 6,403 | ' | ' |
Available-for-sale Securities, Amortized Cost Basis | 29,184 | 26,770 | ' | ' |
Short-term investments | 29,196 | 26,774 | ' | ' |
Available-For-Sale Securities, Accumulated Gross Unrealized Gain, Before Tax | 25 | 17 | ' | ' |
Available-For-Sale Securities, Accumulated Gross Unrealized Loss, Before Tax | -13 | -13 | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Aggregate Loss | -13 | -13 | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 0 | 0 | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Aggregate Loss | 0 | 0 | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 9,336 | 6,403 | ' | ' |
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Loss | 13 | 13 | ' | ' |
US Government Agencies Debt Securities [Member] | ' | ' | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' | ' | ' |
Available-for-sale Securities, Amortized Cost Basis | ' | 2,939 | ' | ' |
Short-term investments | ' | $2,939 | ' | ' |
Financial_Instruments_and_Fair4
Financial Instruments and Fair Value Measurements (Summary of Investment Maturities) (Details) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Maturities of the Company's investments | ' | ' |
Available-for-sale Securities, Debt Maturities, Remainder of Fiscal Year, Fair Value | $32,348 | ' |
Available For Sale Securities, Debt Maturities, Next Fiscal Year, Fair Value | 39,990 | ' |
Available For Sale Securities, Debt Maturities, In Two Years, Fair Value | 26,186 | ' |
Available For Sale Securities, Debt Maturities, In Three Years, Fair Value | 8,327 | ' |
Total | $106,851 | $102,610 |
Financial_Instruments_and_Fair5
Financial Instruments and Fair Value Measurements Investment income (Details) (USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Net Investment Income [Line Items] | ' | ' |
Interest and Dividend Income, Securities, Operating | $0.10 | $0.20 |
Acquisitions_Details
Acquisitions (Details) (USD $) | 0 Months Ended | ||
Jan. 15, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | |
Business Acquisition [Line Items] | ' | ' | ' |
Goodwill | ' | $52,460,000 | $51,051,000 |
Business Combination, Consideration Transferred | 5,000,000 | ' | ' |
Payments to Acquire Businesses, Gross | 4,500,000 | ' | ' |
Business Acquisition, Cost of Acquired Entity, Holdback | 500,000 | ' | ' |
ARG Interactive, LLC [Member] | ' | ' | ' |
Business Acquisition [Line Items] | ' | ' | ' |
Goodwill | 1,409,000 | ' | ' |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net | 5,020,000 | ' | ' |
Developed Technology Rights [Member] | ' | ' | ' |
Business Acquisition [Line Items] | ' | ' | ' |
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | '5 years | ' | ' |
Developed Technology Rights [Member] | ARG Interactive, LLC [Member] | ' | ' | ' |
Business Acquisition [Line Items] | ' | ' | ' |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 2,927,000 | ' | ' |
Customer Relationships [Member] | ' | ' | ' |
Business Acquisition [Line Items] | ' | ' | ' |
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | '5 years | ' | ' |
Trade Names [Member] | ' | ' | ' |
Business Acquisition [Line Items] | ' | ' | ' |
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | '2 years | ' | ' |
Trade Names [Member] | ARG Interactive, LLC [Member] | ' | ' | ' |
Business Acquisition [Line Items] | ' | ' | ' |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 41,000 | ' | ' |
Customer Relationships and Contracts [Member] | ARG Interactive, LLC [Member] | ' | ' | ' |
Business Acquisition [Line Items] | ' | ' | ' |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | $643,000 | ' | ' |
Goodwill_and_Other_Intangible_2
Goodwill and Other Intangible Assets (Details Table) (Gross and Net Balances) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Other Intangible Net | ' | ' |
Gross Carrying Amount | $13,045 | $9,434 |
Accumulated Amortization | -4,849 | -4,345 |
Net Intangibles | 8,196 | 5,089 |
Finite-Lived Intangible Assets, Remaining Amortization Period | '56 months 13 days | '57 months 16 days |
Developed technology [Member] | ' | ' |
Other Intangible Net | ' | ' |
Gross Carrying Amount | 4,801 | 1,874 |
Accumulated Amortization | -1,704 | -1,500 |
Net Intangibles | 3,097 | 374 |
Finite-Lived Intangible Assets, Remaining Amortization Period | '53 months 21 days | '14 months 26 days |
Trade Names [Member] | ' | ' |
Other Intangible Net | ' | ' |
Gross Carrying Amount | 301 | 260 |
Accumulated Amortization | -213 | -192 |
Net Intangibles | 88 | 68 |
Finite-Lived Intangible Assets, Remaining Amortization Period | '14 months 13 days | '12 months |
Customer Relationships and Contracts [Member] | ' | ' |
Other Intangible Net | ' | ' |
Gross Carrying Amount | 7,943 | 7,300 |
Accumulated Amortization | -2,932 | -2,653 |
Net Intangibles | $5,011 | $4,647 |
Finite-Lived Intangible Assets, Remaining Amortization Period | '58 months 30 days | '61 months 19 days |
Goodwill_and_Other_Intangible_3
Goodwill and Other Intangible Assets (Details Table 1) (Future Amortization) (USD $) | Mar. 31, 2014 |
In Thousands, unless otherwise specified | |
Minimum future amortization expense for intangible assets | ' |
Finite-Lived Intangible Assets, Amortization Expense, Remainder of Fiscal Year | $1,605 |
Finite-Lived Intangible Assets, Amortization Expense, Next Fiscal Year | 1,767 |
Finite-Lived Intangible Assets, Amortization Expense, in Two Years | 1,643 |
Finite-Lived Intangible Assets, Amortization Expense, in Three Years | 1,642 |
Finite-Lived Intangible Assets, Amortization Expense, in Four Years | 978 |
Finite-Lived Intangible Assets, Amortization Expense, in Five Years | 295 |
Thereafter | 266 |
Minimum future amortization expense of other intangible assets | $8,196 |
Goodwill_and_Other_Intangible_4
Goodwill and Other Intangible Assets (Details Textual) (USD $) | 3 Months Ended | ||
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 | Dec. 31, 2013 |
Goodwill [Line Items] | ' | ' | ' |
Goodwill | $52,460 | ' | $51,051 |
Goodwill and Other Intangible Assets (Textual) [Abstract] | ' | ' | ' |
Amortization of other intangible assets | $505 | $361 | ' |
Goodwill_and_Other_Intangible_5
Goodwill and Other Intangible Assets Schedule of Finite-lived Intangible Assets (Details) (USD $) | 3 Months Ended | |
Mar. 31, 2014 | Mar. 31, 2013 | |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Impairment of Intangible Assets, Finite-lived | $0 | $0 |
Income_Taxes_Details_Textual
Income Taxes (Details Textual) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Income Tax Disclosure [Abstract] | ' | ' |
Annual effective tax rate | 33.40% | 26.60% |
Federal statutory tax rate | 35.00% | ' |
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense | $20 | ' |
Commitments_and_Contingencies_
Commitments and Contingencies Commitments and Contingencies (Details Textual2) (USD $) | Jan. 31, 2014 |
Capital Leased Assets [Line Items] | ' |
Capital Leases, Future Minimum Monthly Payments Due | $50,000 |
Computer Equipment [Member] | ' |
Capital Leased Assets [Line Items] | ' |
Capital Lease Term in Months | '36 months |
Stock_Incentive_Plans_Details_
Stock Incentive Plans (Details Table 3) (Stock-based compensation allocation) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Other Significant Noncash Transaction, Value of Consideration Given | $54 | $15 |
Stock-based compensation expense | ' | ' |
Stock-based compensation by financial statement line item | 3,310 | 3,373 |
Cost of Sales [Member] | ' | ' |
Stock-based compensation expense | ' | ' |
Stock-based compensation by financial statement line item | 238 | 99 |
Selling and Marketing Expense [Member] | ' | ' |
Stock-based compensation expense | ' | ' |
Stock-based compensation by financial statement line item | 333 | 136 |
Research and Development Expense [Member] | ' | ' |
Stock-based compensation expense | ' | ' |
Stock-based compensation by financial statement line item | 736 | 685 |
General and Administrative Expense [Member] | ' | ' |
Stock-based compensation expense | ' | ' |
Stock-based compensation by financial statement line item | $2,003 | $2,453 |
Stock_Incentive_Plans_Details_1
Stock Incentive Plans (Details Table) (Stock Option Activity) (USD $) | Dec. 31, 2013 | Mar. 31, 2014 |
In Thousands, except Share data, unless otherwise specified | Stock Option [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward] | ' | ' |
Outstanding at December 31, 2012, Shares | 3,284,672 | ' |
Options granted, Shares | ' | 170,753 |
Options exercised, Shares | ' | -275,211 |
Options forfeited or expired, Shares | ' | -9,153 |
Outstanding at March 31, 2013, Shares | 3,284,672 | 3,171,061 |
Ending vested and expected to vest, Number of Shares at End of Period | ' | 3,039,823 |
Stock option exercisable at End of Period, Shares, Ending Balance | ' | 1,660,712 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Roll Forward] | ' | ' |
Outstanding at December 31, 2012, weighted average exercise price, Beginning Balance | ' | $11.17 |
Options granted, weighted average exercise price | ' | $25.87 |
Options exercised, weighted average exercise price | ' | $5.27 |
Options forfeited or expired, weighted average exercise price | ' | $17.45 |
Outstanding at End of Period, weighted average exercise price, Ending Balance | ' | $12.46 |
Ending vested and expected to vest, Weighted Average Exercise Price at End of Period | ' | $12.12 |
Stock option exercisable at End of Period, weighted average exercise price, Ending Balance | ' | $7.99 |
Weighted average remaining contractual term at End of Period | ' | '7 years 3 months 18 days |
Ending vested and expected to vest, Weighted Average Remaining Contractual Term at End of Period | ' | '7 years 2 months 27 days |
Stock option exercisable, weighted average remaining Contractual term, Ending balance | ' | '6 years 2 months 12 days |
Aggregate Intrinsic value at End of Period | ' | $51,998 |
Ending vested and expected to vest, Aggregate Intrinsic Value at End of Period | ' | 50,856 |
Exercisable aggregate Intrinsic Value | ' | $34,622 |
Stock_Incentive_Plans_Details_2
Stock Incentive Plans (Details Table 1) (Stock Option Additional Information) (USD $) | 3 Months Ended | |
In Thousands, except Per Share data, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Stock options activity, additional information | ' | ' |
Weighted average fair value per option granted | $13.30 | $10.49 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested in Period, Fair Value | $1,467 | $1,024 |
Intrinsic value of options exercised | 6,425 | 3,359 |
Proceeds received from options exercised | $1,448 | $427 |
Stock_Incentive_Plans_Details_3
Stock Incentive Plans (Details Table 2) (RSU and Performance Award activity) (USD $) | 1 Months Ended | 3 Months Ended |
Feb. 28, 2014 | Mar. 31, 2014 | |
RSUs [Member] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Number | ' | 342,669 |
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward] | ' | ' |
Outstanding at December 31, 2012 | ' | 257,378 |
Granted | ' | 153,162 |
Released | ' | -3,125 |
Forfeited or expired | ' | 2,205 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeitures, Weighted Average Grant Date Fair Value | ' | $24.13 |
Outstanding at March 31, 2013 | ' | 405,210 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value | ' | $23.10 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | ' | $27.91 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Weighted Average Grant Date Fair Value | ' | $8.90 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value | ' | $23.47 |
Performance Shares [Member] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Number | ' | 655,925 |
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward] | ' | ' |
Outstanding at December 31, 2012 | ' | 565,300 |
Granted | 62,500 | 90,625 |
Released | ' | 0 |
Forfeited or expired | ' | 0 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeitures, Weighted Average Grant Date Fair Value | ' | $0 |
Outstanding at March 31, 2013 | ' | 655,925 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value | ' | $24.43 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | ' | $24.93 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Weighted Average Grant Date Fair Value | ' | $0 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value | ' | $24.50 |
Stock_Incentive_Plans_Details_4
Stock Incentive Plans (Details Table 4) (Fair Value Assumptions) | 3 Months Ended | |
Mar. 31, 2014 | Mar. 31, 2013 | |
Stock Option [Member] | ' | ' |
Schedule of Stock Options and Employee Stock Purchase Plan Valuation Assumptions | ' | ' |
Risk-free interest rate | ' | 1.15% |
Expected Life of options (in years) | '6 years 0 months 29 days | '6 years 0 months 29 days |
Expected dividend yield | 0.00% | 0.00% |
Volatility | ' | 53.00% |
Employee Stock Purchase Plan [Member] | ' | ' |
Schedule of Stock Options and Employee Stock Purchase Plan Valuation Assumptions | ' | ' |
Risk-free interest rate | 0.08% | 0.13% |
Expected Life of options (in years) | '6 months | '6 months |
Expected dividend yield | 0.00% | 0.00% |
Volatility | 39.00% | 37.00% |
Minimum [Member] | Stock Option [Member] | ' | ' |
Schedule of Stock Options and Employee Stock Purchase Plan Valuation Assumptions | ' | ' |
Risk-free interest rate | 1.85% | ' |
Volatility | 51.00% | ' |
Maximum [Member] | Stock Option [Member] | ' | ' |
Schedule of Stock Options and Employee Stock Purchase Plan Valuation Assumptions | ' | ' |
Risk-free interest rate | 1.98% | ' |
Volatility | 53.00% | ' |
Stock_Incentive_Plans_Details_5
Stock Incentive Plans (Details Table 5) (Reserved Shares) | Mar. 31, 2014 |
Class of Stock [Line Items] | ' |
Reserved Shares | 8,428,632 |
Options and Awards Outstanding [Member] | ' |
Class of Stock [Line Items] | ' |
Reserved Shares | 4,232,196 |
Shares Available for Future Grant [Member] | ' |
Class of Stock [Line Items] | ' |
Reserved Shares | 3,113,550 |
Shares Available Under Employee Stock Purchase Plan [Member] | ' |
Class of Stock [Line Items] | ' |
Reserved Shares | 1,082,886 |
Stock_Incentive_Plans_Details_6
Stock Incentive Plans (Details Textual) (USD $) | Jan. 31, 2013 | Mar. 31, 2014 | Jan. 31, 2013 | Mar. 31, 2014 | Mar. 31, 2013 | Aug. 09, 2012 | Feb. 28, 2013 | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2014 | Mar. 31, 2014 | Aug. 09, 2012 | Feb. 28, 2014 | Aug. 09, 2012 | Feb. 28, 2014 | Mar. 31, 2014 | Mar. 31, 2013 | Aug. 09, 2012 | Feb. 28, 2014 | Aug. 09, 2012 | Feb. 28, 2014 | Aug. 09, 2012 | Feb. 28, 2013 | Aug. 09, 2012 | Feb. 28, 2013 | Apr. 30, 2014 |
Employee Stock Purchase Plan [Member] | Stock Option [Member] | Stock Option [Member] | RSUs [Member] | RSUs [Member] | Performance Shares [Member] | Performance Shares [Member] | Performance Shares [Member] | Restricted Stock [Member] | Restricted Stock Units and Performance Awards [Member] | 2009 Plan [Member] | 2011 Equity Incentive Award Plan [Member] | 2011 Equity Incentive Award Plan [Member] | 2011 Equity Incentive Award Plan [Member] | 2011 Equity Incentive Award Plan [Member] | Employee Stock Purchase Plan [Member] | Employee Stock Purchase Plan [Member] | Upon Issuance [Domain] | Upon Issuance [Domain] | First Anniversary [Member] | First Anniversary [Member] | Second Anniversary [Member] | Second Anniversary [Member] | Third Anniversary [Member] | Third Anniversary [Member] | Subsequent Event [Member] | |
Minimum [Member] | Minimum [Member] | Maximum [Member] | Maximum [Member] | Performance Shares [Member] | Performance Shares [Member] | Performance Shares [Member] | Performance Shares [Member] | Performance Shares [Member] | Performance Shares [Member] | Performance Shares [Member] | Performance Shares [Member] | Restricted Stock [Member] | ||||||||||||||
Performance Shares [Member] | Performance Shares [Member] | Performance Shares [Member] | Performance Shares [Member] | |||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Aggregate Intrinsic Value, Vested | ' | ' | ' | $97,531 | $62,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | ' | 170,753 | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share Price | ' | $28.84 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unrecognized Compensation Cost Related to unvested Stock option | ' | 13,500,000 | ' | ' | ' | ' | ' | ' | ' | 18,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Expected to be recognized over a weighted average period | ' | '2 years 5 months 16 days | ' | ' | ' | ' | ' | ' | ' | '2 years 7 months 28 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value | ' | ' | ' | 0 | 28,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | ' | ' | ' | ' | ' | 147,000 | 113,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Shares of Common Stock Issuable Per Award | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 4 | 2.5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock Issued During Period, Shares, Share-based Compensation, Net of Forfeitures | ' | ' | ' | ' | ' | ' | ' | ' | 588,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 124,300 |
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 25.00% | 25.00% | 25.00% | 25.00% | 25.00% | 25.00% | 25.00% | 25.00% | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period | ' | ' | ' | 3,125 | ' | ' | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of shares purchased under ESPP | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 45,746 | 54,728 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Purchase price of ESPP shares | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,200,000 | 900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unrecognized compensation cost related to employee stock purchase plan | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Expected recognized period under employee stock purchase plan | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '5 months | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Estimated Performance Share Conversion Rate | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Annual Automatic Increase in Shares Reserved for Issuance, Shares | 276,240 | ' | 1,381,201 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment_Information_Details_Ta
Segment Information (Details Table) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Segment Reporting Information Revenue | ' | ' |
Revenues | $32,178 | $30,855 |
On Demand Revenues [Member] | ' | ' |
Segment Reporting Information Revenue | ' | ' |
Revenues | 30,146 | 27,951 |
On Premise Revenues [Member] | ' | ' |
Segment Reporting Information Revenue | ' | ' |
Revenues | $2,032 | $2,904 |