Document_and_Entity_Informatio
Document and Entity Information (USD $) | 12 Months Ended | ||
In Millions, except Share data, unless otherwise specified | Dec. 31, 2013 | Mar. 18, 2014 | Jun. 30, 2013 |
Document And Entity Information [Abstract] | ' | ' | ' |
Document Type | '10-K | ' | ' |
Amendment Flag | 'false | ' | ' |
Document Period End Date | 31-Dec-13 | ' | ' |
Document Fiscal Year Focus | '2013 | ' | ' |
Document Fiscal Period Focus | 'FY | ' | ' |
Entity Registrant Name | 'CVENT INC | ' | ' |
Entity Central Index Key | '0001122897 | ' | ' |
Current Fiscal Year End Date | '--12-31 | ' | ' |
Entity Well-known Seasoned Issuer | 'No | ' | ' |
Entity Current Reporting Status | 'Yes | ' | ' |
Entity Voluntary Filers | 'No | ' | ' |
Entity Filer Category | 'Non-accelerated Filer | ' | ' |
Entity Common Stock, Shares Outstanding | ' | 41,099,581 | ' |
Entity Public Float | ' | ' | $395 |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Current assets: | ' | ' |
Cash and cash equivalents | $146,407 | $16,850 |
Restricted cash | 664 | 455 |
Short-term investments | 11,359 | 9,320 |
Accounts receivable, net of reserve of $731 and $505, respectively | 33,199 | 29,081 |
Prepaid expense and other current assets | 7,894 | 3,128 |
Deferred tax assets | 3,060 | 2,486 |
Total current assets | 202,583 | 61,320 |
Property and equipment, net | 7,906 | 6,756 |
Capitalized software development costs, net | 9,264 | 5,428 |
Intangible assets, net | 3,123 | 3,919 |
Goodwill | 12,703 | 12,505 |
Deferred tax assets, non-current | 257 | 102 |
Total assets | 235,836 | 90,030 |
Current liabilities: | ' | ' |
Accounts payable | 5,388 | 3,272 |
Accrued and other current liabilities | 18,477 | 13,921 |
Deferred revenue | 65,203 | 51,554 |
Total current liabilities | 89,068 | 68,747 |
Deferred tax liabilities, non-current | 3,323 | 2,134 |
Other liabilities, non-current | 1,407 | 419 |
Total liabilities | 93,798 | 71,300 |
Commitments and contingencies | ' | ' |
Stockholders' equity: | ' | ' |
Preferred stock, value | ' | ' |
Common stock, $0.001 par value; 1,000,000,000 shares authorized at December 31, 2013, 40,409,791 and 15,901,183 issued and 39,889,577 and 15,380,969 outstanding at December 31, 2013 and 2012, respectively | 40 | 16 |
Treasury stock | -3,966 | -3,966 |
Additional paid-in capital | 168,949 | 42,409 |
Accumulated deficit | -22,985 | -19,746 |
Total stockholders' equity | 142,038 | 18,730 |
Total liabilities and stockholders' equity | 235,836 | 90,030 |
Series A Convertible Preferred Stock [Member] | ' | ' |
Stockholders' equity: | ' | ' |
Preferred stock, value | ' | 17 |
Total stockholders' equity | ' | $17 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, except Share data, unless otherwise specified | ||
Accounts receivable, reserve | $731 | $505 |
Preferred stock, par value | $0.00 | $0.00 |
Preferred stock, shares authorized | 100,000,000 | 0 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Common stock, par value | $0.00 | $0.00 |
Common stock, shares authorized | 1,000,000,000 | ' |
Common stock, shares issued | 40,409,791 | 15,901,183 |
Common stock, shares outstanding | 39,889,577 | 15,380,969 |
Series A Convertible Preferred Stock [Member] | ' | ' |
Preferred stock, par value | $0.00 | $0.00 |
Preferred stock, shares authorized | 0 | 69,675,300 |
Preferred stock, shares issued | 0 | 17,418,807 |
Preferred stock, shares outstanding | 0 | 17,418,807 |
Consolidated_Statements_of_Ope
Consolidated Statements of Operations (USD $) | 3 Months Ended | 12 Months Ended | ||||||||||||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |||
Income Statement [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Revenue | $30,696 | $29,145 | $26,935 | $24,360 | $23,609 | $21,836 | $19,779 | $18,250 | $111,136 | $83,474 | $60,854 | |||
Cost of revenue | 10,675 | 8,412 | 7,172 | 6,003 | 5,925 | 5,395 | 4,628 | 4,625 | 32,262 | [1] | 20,573 | [1] | 16,660 | [1] |
Gross profit | 20,021 | 20,733 | 19,763 | 18,357 | 17,684 | 16,441 | 15,151 | 13,625 | 78,874 | 62,901 | 44,194 | |||
Operating expenses: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Sales and marketing | 13,203 | 11,552 | 12,131 | 11,519 | 10,125 | 9,192 | 8,420 | 8,136 | 48,405 | [1] | 35,873 | [1] | 29,305 | [1] |
Research and development | 3,086 | 2,813 | 2,789 | 2,502 | 2,214 | 2,082 | 1,886 | 1,423 | 11,190 | [1] | 7,605 | [1] | 4,172 | [1] |
General and administrative | 4,325 | 6,092 | 6,154 | 4,647 | 3,566 | 2,269 | 3,553 | 2,135 | 21,218 | [1] | 11,523 | [1] | 8,422 | [1] |
Total operating expenses | 20,614 | 20,457 | 21,074 | 18,668 | 15,905 | 13,543 | 13,859 | 11,694 | 80,813 | 55,001 | 41,899 | |||
Income (loss) from operations | -593 | 276 | -1,311 | -311 | 1,779 | 2,898 | 1,292 | 1,931 | -1,939 | 7,900 | 2,295 | |||
Interest income | 338 | 295 | 123 | 259 | 141 | 199 | 203 | 268 | 1,015 | 811 | 270 | |||
Income (loss) from operations before income tax expense | -255 | 571 | -1,188 | -52 | 1,920 | 3,097 | 1,495 | 2,199 | -924 | 8,711 | 2,565 | |||
Provision for income taxes | 178 | 1,400 | 1,099 | -362 | 399 | 1,696 | 982 | 1,329 | 2,315 | 4,406 | 2,749 | |||
Net income (loss) | ($433) | ($829) | ($2,287) | $310 | $1,521 | $1,401 | $513 | $870 | ($3,239) | $4,305 | ($184) | |||
Net income (loss) per common share: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Basic | ($0.01) | ($0.03) | ($0.15) | $0.01 | $0.05 | $0.04 | $0.02 | $0.03 | ($0.13) | $0.13 | ($0.01) | |||
Diluted | ($0.01) | ($0.03) | ($0.15) | $0.01 | $0.04 | $0.04 | $0.01 | $0.02 | ($0.13) | $0.12 | ($0.01) | |||
Weighted average common shares outstanding-basic | ' | ' | ' | ' | ' | ' | ' | ' | 25,289,788 | 33,167,358 | 16,757,527 | |||
Weighted average common shares outstanding-diluted | ' | ' | ' | ' | ' | ' | ' | ' | 25,289,788 | 34,790,637 | 16,757,527 | |||
[1] | Stock-based compensation expense included in the above: Cost of revenue $ 1,046 $ 762 690 Sales and marketing 2,306 2,895 2,376 Research and development 609 539 373 General and administrative 772 1,010 512 Total $ 4,733 $ 5,206 3,951 |
Consolidated_Statements_of_Ope1
Consolidated Statements of Operations (Parenthetical) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Stock-based compensation expense included in the above: | ' | ' | ' |
Stock-based compensation expense | $4,733 | $5,206 | $3,951 |
Cost of Revenue [Member] | ' | ' | ' |
Stock-based compensation expense included in the above: | ' | ' | ' |
Stock-based compensation expense | 1,046 | 762 | 690 |
Sales and Marketing [Member] | ' | ' | ' |
Stock-based compensation expense included in the above: | ' | ' | ' |
Stock-based compensation expense | 2,306 | 2,895 | 2,376 |
Research and Development [Member] | ' | ' | ' |
Stock-based compensation expense included in the above: | ' | ' | ' |
Stock-based compensation expense | 609 | 539 | 373 |
General and Administrative [Member] | ' | ' | ' |
Stock-based compensation expense included in the above: | ' | ' | ' |
Stock-based compensation expense | $772 | $1,010 | $512 |
Consolidated_Statements_of_Cha
Consolidated Statements of Changes in Stockholders' Equity (USD $) | Total | Common Stock [Member] | Treasury Stock [Member] | Additional Paid-In Capital [Member] | Accumulated Deficit [Member] | Series B-1 Redeemable Convertible Preferred Stock [Member] | Series B-2 Redeemable Convertible Preferred Stock [Member] | Series A Redeemable Convertible Preferred Stock [Member] | Series A Convertible Preferred Stock [Member] |
In Thousands, except Share data | |||||||||
Beginning Balance at Dec. 31, 2010 | $10,362 | $17 | ($16) | ' | ($16,155) | $14,982 | $10,818 | $716 | ' |
Beginning Balance, Shares at Dec. 31, 2010 | ' | 16,642,766 | -13,155 | ' | ' | 5,421,875 | 9,508,789 | 190,000 | ' |
Exercise of restricted shares | 13 | 1 | ' | 12 | ' | ' | ' | ' | ' |
Exercise of restricted shares, Shares | ' | 1,090,988 | ' | ' | ' | ' | ' | ' | ' |
Preferred stock accretion | ' | ' | ' | -12 | -6,903 | 7,301 | -401 | 15 | ' |
Repurchase of preferred stock | -1,530 | ' | ' | ' | -809 | -80 | -641 | ' | ' |
Repurchase of preferred stock, Shares | ' | ' | ' | ' | ' | -19,531 | -554,298 | ' | ' |
Preferred stock converted to common stock | ' | 15 | ' | 32,695 | ' | -22,203 | -9,776 | -731 | ' |
Preferred stock converted to common stock, Shares | ' | 14,926,832 | ' | ' | ' | -5,402,344 | -8,954,491 | -190,000 | ' |
Issuance of preferred stock, net of transaction costs | 135,023 | ' | ' | 135,006 | ' | ' | ' | ' | 17 |
Issuance of preferred stock, net of transaction costs, Shares | ' | ' | ' | ' | ' | ' | ' | ' | 17,418,807 |
Repurchase of common stock | -135,866 | ' | -135,866 | ' | ' | ' | ' | ' | ' |
Repurchase of common stock, Shares | ' | ' | -17,418,695 | ' | ' | ' | ' | ' | ' |
Retirement of common stock | ' | -17 | 135,866 | -135,849 | ' | ' | ' | ' | ' |
Retirement of common stock, Shares | ' | -17,418,695 | 17,418,695 | ' | ' | ' | ' | ' | ' |
Exercise of stock options and warrants | 397 | ' | ' | 397 | ' | ' | ' | ' | ' |
Exercise of stock options and warrants, shares | ' | 423,525 | ' | ' | ' | ' | ' | ' | ' |
Stock-based compensation expense | 3,951 | ' | ' | 3,951 | ' | ' | ' | ' | ' |
Net income (loss) | -184 | ' | ' | ' | -184 | ' | ' | ' | ' |
Ending Balance at Dec. 31, 2011 | 12,166 | 16 | -16 | 36,200 | -24,051 | ' | ' | ' | 17 |
Ending Balance, Shares at Dec. 31, 2011 | ' | 15,665,416 | -13,155 | ' | ' | ' | ' | ' | 17,418,807 |
Stock issued for Seed Labs acquisition | 935 | ' | ' | 935 | ' | ' | ' | ' | ' |
Stock issued for Seed Labs acquisition, Shares | ' | 116,925 | ' | ' | ' | ' | ' | ' | ' |
Repurchase of common stock | -3,950 | ' | -3,950 | ' | ' | ' | ' | ' | ' |
Repurchase of common stock, Shares | ' | ' | -507,059 | ' | ' | ' | ' | ' | ' |
Exercise of stock options | 68 | ' | ' | 68 | ' | ' | ' | ' | ' |
Exercise of stock options, Shares | 118,842 | 118,842 | ' | ' | ' | ' | ' | ' | ' |
Stock-based compensation expense | 5,206 | ' | ' | 5,206 | ' | ' | ' | ' | ' |
Net income (loss) | 4,305 | ' | ' | ' | 4,305 | ' | ' | ' | ' |
Ending Balance at Dec. 31, 2012 | 18,730 | 16 | -3,966 | 42,409 | -19,746 | ' | ' | ' | 17 |
Ending Balance, Shares at Dec. 31, 2012 | ' | 15,901,183 | -520,214 | ' | ' | ' | ' | ' | 17,418,807 |
Repurchase of warrants | -1,275 | ' | ' | -1,275 | ' | ' | ' | ' | ' |
Exercise of restricted shares | 452 | ' | ' | 452 | ' | ' | ' | ' | ' |
Exercise of restricted shares, Shares | ' | 255,572 | ' | ' | ' | ' | ' | ' | ' |
Preferred stock converted to common stock | ' | 17 | ' | ' | ' | ' | ' | ' | -17 |
Preferred stock converted to common stock, Shares | ' | 17,418,807 | ' | ' | ' | ' | ' | ' | -17,418,807 |
Proceeds from IPO, net of issuance costs | 122,131 | 6 | ' | 122,125 | ' | ' | ' | ' | ' |
Proceeds from IPO, net of issuance costs, Shares | ' | 6,440,000 | ' | ' | ' | ' | ' | ' | ' |
Exercise of stock options, Shares | 635,072 | ' | ' | ' | ' | ' | ' | ' | ' |
Exercise of stock options and warrants | 506 | 1 | ' | 505 | ' | ' | ' | ' | ' |
Exercise of stock options and warrants, shares | ' | 394,229 | ' | ' | ' | ' | ' | ' | ' |
Stock-based compensation expense | 4,733 | ' | ' | 4,733 | ' | ' | ' | ' | ' |
Net income (loss) | -3,239 | ' | ' | ' | -3,239 | ' | ' | ' | ' |
Ending Balance at Dec. 31, 2013 | $142,038 | $40 | ($3,966) | $168,949 | ($22,985) | ' | ' | ' | ' |
Ending Balance, Shares at Dec. 31, 2013 | ' | 40,409,791 | -520,214 | ' | ' | ' | ' | ' | ' |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Operating activities: | ' | ' | ' |
Net income (loss) | ($3,239) | $4,305 | ($184) |
Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ' | ' | ' |
Depreciation and amortization | 7,769 | 5,446 | 3,917 |
Bad debt expense | 392 | 344 | 180 |
Foreign currency transaction loss | 190 | ' | 68 |
Stock-based compensation expense | 4,733 | 5,206 | 3,951 |
Change in deferred taxes | 788 | 434 | 175 |
Change in operating assets and liabilities: | ' | ' | ' |
Accounts receivable, net | -4,945 | -9,618 | -3,357 |
Prepaid expenses and other assets | -4,766 | -587 | -1,447 |
Accounts payable, accrued and other liabilities | 7,493 | 4,486 | 3,376 |
Deferred revenue | 13,649 | 13,565 | 7,931 |
Net cash provided by operating activities | 22,064 | 23,581 | 14,610 |
Investing activities: | ' | ' | ' |
Purchase of property and equipment and capitalized software development costs | -11,341 | -8,118 | -5,396 |
Purchase of short-term investments | -2,039 | -986 | -6,271 |
Acquisitions, net of cash acquired | -90 | -12,460 | ' |
Restricted cash | -209 | -455 | ' |
Net cash used in investing activities | -13,679 | -22,019 | -11,667 |
Financing activities: | ' | ' | ' |
Repurchase of preferred stock, common stock and warrants | -1,275 | -3,950 | -137,055 |
Proceeds from issuance of Series A convertible Preferred Stock, net of transaction costs | ' | ' | 135,023 |
Proceeds from initial public offering, net of transaction costs | 122,131 | ' | ' |
Proceeds from exercise of stock options and warrants | 506 | 1,088 | 56 |
Net cash provided by (used in) in financing activities | 121,362 | -2,862 | -1,976 |
Effect of exchange rate changes on cash and cash equivalents | -190 | ' | -68 |
Increase (decrease) in cash and cash equivalents | 129,557 | -1,300 | 899 |
Cash and cash equivalents, beginning of year | 16,850 | 18,150 | 17,251 |
Cash and cash equivalents, end of year | 146,407 | 16,850 | 18,150 |
Supplemental cash flow information: | ' | ' | ' |
Income taxes paid | 3,339 | 3,207 | 3,153 |
Supplemental disclosure of non-cash investing and financing activities: | ' | ' | ' |
Change in accounts payable for purchase of property and equipment | 618 | 102 | ' |
Issuance of common stock in acquisition | ' | 935 | ' |
Cashless exercise of common stock warrants | ' | ' | 341 |
Change in goodwill due to finalization of purchase accounting | $198 | ' | ' |
Description_of_Business
Description of Business | 12 Months Ended |
Dec. 31, 2013 | |
Accounting Policies [Abstract] | ' |
Description of Business | ' |
1. Description of Business | |
Cvent, Inc. (the “Company”) provides a cloud-based enterprise event management platform with solutions for both sides of the events and meetings value chain: (i) event and meeting planners and (ii) hotels and venues. The Company’s integrated, cloud-based solution addresses the entire event lifecycle by allowing event and meeting planners to organize, market and manage their meetings, conferences, tradeshows and other events. The Company’s online marketplace connects event planners and venues through its vertical search engine that accesses its proprietary database of detailed hotel and venue information. The combination of these solutions creates an integrated platform that allows the Company to generate revenue from both sides of the events and meetings value chain. |
Summary_of_Significant_Account
Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2013 | |
Accounting Policies [Abstract] | ' |
Summary of Significant Accounting Policies | ' |
2. Summary of Significant Accounting Policies | |
(a) Basis of Presentation | |
The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All significant intercompany balances and transactions have been eliminated in consolidation. These consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America. | |
(b) Use of Estimates | |
The preparation of the consolidated financial statements in conformity with U.S. generally accepted accounting principles 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 consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. Significant estimates and assumptions made by management include estimated useful lives of property and equipment, goodwill and intangibles, application of appropriate revenue recognition standards, allowances for doubtful accounts, valuation of deferred tax assets, stock-based compensation, income taxes and legal and other contingencies. The current economic environment has increased the degree of uncertainty inherent in those estimates and assumptions. Actual results could differ from those estimates and assumptions. | |
(c) Cash and Cash Equivalents | |
Highly liquid financial instruments purchased with original maturities of 90 days or less at the date of purchase are reported as cash equivalents. Cash equivalents are recorded at cost, which approximates fair value. | |
Included in cash and cash equivalents are funds representing amounts reserved for the face value of registration fees or tickets sold on behalf of customers. While these cash accounts are not restricted as to their use, a liability for amounts due to customers under these arrangements has been recorded in accounts payable in the accompanying consolidated balance sheets. The Company had amounts due to customers of $2,560 and $1,351 of these funds as of December 31, 2013 and 2012, respectively. | |
(d) Restricted Cash | |
Restricted cash includes amounts required to be held for regulatory purposes in India. The Company held $664 and $455 of restricted cash in certificates of deposit as of December 31, 2013 and 2012, respectively. | |
(e) Short-term Investments | |
The Company’s short-term investments consist of highly liquid financial instruments with original maturities greater than 90 days but less than one year. These short-term investments are comprised of certificates-of-deposit. | |
(f) Accounts Receivable | |
Accounts receivable are recorded at the amount invoiced to customers and do not bear interest. The Company maintains an allowance for doubtful accounts for estimated losses inherent in its accounts receivable portfolio. In reviewing outstanding receivables, management considers historical write-off experience, the amount of receivables in dispute, and the current receivables aging and current payment patterns. Past due balances over 90 days and over a specified amount are reviewed individually for collectability. Account balances are written off after all means of collection have been exhausted and the potential for recovery is considered remote. | |
Bad debt expense during the years ended December 31, 2013, 2012 and 2011 was $392, $344 and $180, respectively. The allowance for bad debt is consistent with actual historical write-offs; however, higher than expected bad debts may result in the future if write-offs are greater than the Company’s estimates. The Company does not have any off-balance-sheet credit exposure related to its customers. | |
No single customer accounted for more than 10% of the total accounts receivable as of December 31, 2013 and 2012, and no single customer accounted for more than 10% of revenue during the years ended December 31, 2013, 2012 and 2011. | |
(g) Revenue Recognition | |
The Company derives revenue from two primary sources: platform subscription-based solutions and marketing solutions. These services are generally provided under annual and multi-year contracts that are generally only cancellable for cause and revenue is generally recognized on a straight-line basis over the life of the contract. The Company recognizes revenue when all of the following conditions are met: | |
(i) persuasive evidence exists of an arrangement with the customer reflecting the terms and conditions under which the solutions or services will be provided; | |
(ii) delivery to customers has occurred or services have been rendered; | |
(iii) the fee is fixed or determinable; and | |
(iv) collection of the fees is reasonably assured. | |
The Company considers a signed agreement or other similar documentation to be persuasive evidence of an arrangement. Collectability is assessed based on a number of factors, including transaction history and the creditworthiness of a customer. If it is determined that collection is not reasonably assured, revenue is not recognized until collection becomes reasonably assured, which is generally upon receipt of cash. | |
The Company adopted the provisions of FASB ASU 2009-13, Revenue Recognition (Topic 605): Multiple-Deliverable Revenue Arrangements (EITF Issue No. 08-1, Revenue Arrangements with Multiple Deliverables) with respect to its multiple-element arrangements entered into or significantly modified on or after January 1, 2011. ASU 2009-13 amends ASC 605-25 to eliminate the requirement that all undelivered elements have vendor-specific objective evidence (VSOE) or third-party evidence (TPE) of selling price before an entity can recognize the portion of an overall arrangement fee that is attributable to items that have already been delivered. The adoption of ASU 2009-13 did not have a material impact on the Company’s results of operations. | |
Platform Subscription Revenue | |
Event Management | |
The Company generates the majority of its revenue through software-as-a-service (SaaS) subscriptions to the event management platform, pricing for which is subject to the features and functionality selected. No features or functionality within the subscription-based services have stand-alone value from one another and, therefore, the entire subscription fee is recognized on a straight-line basis over the term of the subscription arrangement. | |
SaaS subscriptions may include functionality that enables customers to manage the registration of participants attending the customer’s event or events. In some cases, the negotiated fee for the subscription is based on a maximum number of event registrations permitted over the subscription term. At any time during the subscription term, customers may elect to purchase blocks of additional registrations, which are referred to as subscription up-sells. The fees associated with the up-sells are added to the original subscription fee, and the revenue is recognized over the remaining subscription period. No portion of the subscription fee is refundable regardless of the actual number of registrations that occur. | |
Mobile Apps | |
Subscription-based solutions also include the sale of mobile event apps. The revenue for mobile event apps solutions is generally recognized on a straight-line basis over the life of the contract. A customer may use a singular mobile event app for any number of events. At any time during the subscription term, customers may elect to purchase additional mobile event apps, which are referred to as mobile up-sells. The fees associated with the up-sells are added to the original subscription fee, and the revenue is recognized over the remaining subscription period. No portion of the subscription fee is refundable. | |
Ticketing | |
Ticketing revenue is generated primarily through convenience and order processing fees charged to the end user purchasing the ticket at the time a ticket for an event is sold and is recorded net of the face value of the ticket. Revenue for these ticket fees collected in advance of the event is recorded as deferred revenue until the event occurs. If an event is cancelled, the customer receives a full refund of the ticket price and fees paid. | |
Other subscription-based solutions include the sale of survey solutions, which are contracted though annual or multiyear arrangements. | |
Subscription agreements do not provide customers with the right to take possession of the underlying software at any time. | |
Marketing Solutions Revenue | |
Marketing solutions revenue is generated through the delivery of various forms of advertising sold through annual or multi-year advertising contracts. Such solutions include prominent display of a customer’s venue within the Cvent Supplier Network, the Cvent Destination Guide or in various electronic newsletters. Pricing for the advertisements is based on the targeted geography, number of advertisements and prominence of the ad placement. | |
The Company enters into arrangements with multiple deliverables that generally include various marketing solutions that may be sold individually or bundled together and delivered over various periods of time. In such situations, the Company applies the provisions of Financial Accounting Standards Board, or FASB, Accounting Standards Codification, or ASC, No. 605-25, Revenue Recognition – Multiple Element Arrangements to account for the various elements within the marketing solution agreements delivered over the platform. Under such guidance, in order to treat deliverables in a multiple-deliverable arrangement as separate units of accounting, the deliverables must have standalone value upon delivery. If the deliverables have standalone value upon delivery, the Company accounts for each deliverable separately and revenue is recognized ratably over the contractual period that the related advertising deliverable is provided. Annual marketing solutions on the Cvent Supplier Network are often sold separately, and, as such, all have standalone value. | |
Certain one-time marketing solutions, which can run for a month, several months, or a year, are primarily sold in a package. In determining whether the marketing solutions sold in packages have standalone value, the Company considers the availability of the services from other vendors, the nature of the solutions, and the contractual dependence of the solutions to the rest of the package. Based on these considerations, the Company has determined the estimated selling price for each marketing solution sold in a package. | |
Revenue arrangements with multiple deliverables are divided into separate units of accounting and the arrangement consideration is allocated to all deliverables based on the relative selling price method. In such circumstances, the Company uses the selling price hierarchy of: (i) vendor specific objective evidence of fair value, or VSOE, if available, (ii) third-party evidence of selling price, or TPE, and (iii) best estimate of selling price. VSOE is limited to the price charged when the same element is sold separately by the Company. Due to the unique nature of some multiple deliverable revenue arrangements, the Company may not be able to establish selling prices based on historical stand-alone sales using VSOE or TPE; therefore the Company may use its best estimate to establish selling prices for these arrangements. The Company establishes the best estimates within a range of selling prices considering multiple factors including, but not limited to, factors such as size of transaction, customer demand and price lists. | |
(h) Business Combinations | |
The Company is required to allocate the purchase price of acquired companies to the identifiable tangible and intangible assets acquired and liabilities assumed at the acquisition date based upon their estimated fair values. | |
Goodwill as of the acquisition date represents the excess of the purchase consideration of an acquired business over the fair value of the underlying net tangible and intangible assets acquired and liabilities assumed. This allocation and valuation require management to make significant estimates and assumptions, especially with respect to long-lived and intangible assets. | |
Critical estimates in valuing intangible assets include but are not limited to estimates about: future expected cash flows from customer contracts, customer lists, distribution agreements, proprietary technology and non-competition agreements; the acquired company’s brand awareness and market position, assumptions about the period of time the brand will continue to be used in our product portfolio; as well as expected costs to develop the in-process research and development into commercially viable products and estimated cash flows from the projects when completed, and discount rates. The Company’s estimates of fair value are based upon assumptions the Company believe to be reasonable, but which are inherently uncertain and unpredictable. Assumptions may be incomplete or inaccurate, and unanticipated events and circumstances may occur. | |
In addition, uncertain tax positions and tax-related valuation allowances assumed in connection with a business combination are initially estimated as of the acquisition date. The Company continues to evaluate these items quarterly and record any adjustments to the preliminary estimates to goodwill provided that the Company is within the measurement period. Subsequent to the measurement period, changes to these uncertain tax positions and tax related valuation allowances will affect the Company’s provision for income taxes in the consolidated statements of operations. | |
Other estimates associated with the accounting for these acquisitions may change as additional information becomes available regarding the assets acquired and liabilities assumed. | |
(i) Deferred Revenue | |
Deferred revenue consists of contractual billings or payments received in advance of revenue recognition from platform subscription services or marketing solutions that are subsequently recognized when the revenue recognition criteria are met. The Company generally invoices customers in annual or quarterly installments. | |
(j) Cost of Revenue | |
The Company’s cost of revenue consists of employee-related expenses, including salaries, benefits and stock-based compensation related to providing support and hosting applications, costs of data center capacity, software license fees and amortization expense associated with capitalized internal use software. In addition, the Company allocates a portion of overhead, such as rent, information technology costs and depreciation and amortization, to cost of revenue based on headcount. | |
(k) Property and Equipment | |
Property and equipment is stated at cost less accumulated depreciation and amortization. Improvements and replacements of property and equipment are capitalized. Maintenance and repairs that do not improve or extend the lives of property and equipment are charged to expense as incurred. When assets are sold or retired, their cost and related accumulated depreciation are removed from the accounts and any gain or loss is reported in operating income (loss) in the accompanying consolidated statements of operations. Depreciation is computed using the straight line method over the estimated useful lives of the related assets. The estimated useful life of computer equipment and software is three years while the estimated useful lives of furniture and equipment is seven years. Leasehold improvements are amortized on a straight-line basis over the shorter of the lease term or estimated useful life of the asset. | |
(l) Impairment of Long-Lived Assets | |
The Company evaluates the recoverability of its long-lived assets in accordance with Impairment or Disposal of Long-Lived Assets Subsections of FASB ASC Subtopic 360-10, Property, Plant, and Equipment—Overall. Long-lived assets are reviewed for possible impairment whenever events or circumstances indicate that the carrying amount of such assets may not be recoverable. If such review indicates that the carrying amount of long-lived assets is not recoverable from future undiscounted cash flows, the carrying amount of such assets is reduced to the lower of the carrying value or fair value. | |
In addition to the recoverability assessment, the Company routinely reviews the remaining estimated lives of its long-lived assets. Any reduction in the useful life assumption will result in increased depreciation and amortization expense in the period when such determinations are made, as well as in subsequent periods. There was no impairment of long-lived assets during the years ended December 31, 2013, 2012 and 2011. | |
(m) Goodwill | |
As a result of the Company’s acquisitions in 2012, the Company recorded goodwill. Goodwill represents the excess of: (i) the aggregate of the fair value of consideration transferred in a business combination, over (ii) the fair value of assets acquired, net of liabilities assumed. Goodwill is not amortized, but is subject to annual impairment tests. The goodwill impairment test is a two-step test. Under the first step, the fair value of the reporting unit is compared with its carrying value, including goodwill. If the fair value of the reporting unit is less than its carrying value, an indication of goodwill impairment exists for the reporting unit and the entity must perform step two of the impairment test (measurement). Under step two, an impairment loss is recognized for any excess of the carrying amount of the reporting unit’s goodwill over the implied fair value of that goodwill. The implied fair value of goodwill is determined by allocating the fair value of the reporting unit in a manner similar to a purchase price allocation and the residual fair value after this allocation is the implied fair value of the reporting unit goodwill. Fair value of the reporting unit is estimated using a discounted cash flow analysis. If the fair value of the reporting unit exceeds its carrying value, step two is not performed. | |
In September 2011, the FASB issued ASU 2011-08, Intangibles—Goodwill and Other (Topic 350): Testing Goodwill for Impairment. This ASU permits an entity to make a qualitative assessment of whether it is more likely than not that a reporting unit’s fair value is less than its carrying amount before applying the two-step goodwill impairment test. If an entity concludes it is not more likely than not that the fair value of a reporting unit is less than its carrying amount, it need not perform the two-step impairment test. The ASU is effective for annual and interim goodwill impairment tests performed for fiscal years beginning after December 15, 2011. Early adoption is permitted. The Company adopted the provisions of ASU 2011-08 as of January 1, 2012. | |
The Company performs its annual impairment review of goodwill on November 30 and when a triggering event occurs between annual impairment tests. Based on the Company’s qualitative assessment, there was no indication of impairment as of December 31, 2013. | |
(n) Capitalized Software Development Costs | |
Costs to develop internal use software are capitalized and recorded as capitalized software in accordance with the provisions of FASB ASC Subtopic 350-40, Intangibles-Goodwill and Other Subtopic 40 Internal-Use Software on the balance sheet. These costs are amortized on a project-by-project basis using the straight-line method over the estimated economic life of the application, which is generally three years, beginning when the asset is substantially ready for use. Costs incurred during the preliminary development stage, as well as maintenance and training costs are expensed as incurred. | |
(o) Research and Development | |
Research and development expenses consist primarily of personnel and related expenses for the Company’s research and development staff, including salaries, benefits, bonuses and stock-based compensation and the cost of certain third-party contractors. Research and development costs, other than software development expenses qualifying for capitalization, are expensed as incurred. | |
(p) Sales Commissions | |
Sales commissions are the costs directly associated with obtaining platform subscription and marketing solutions contracts with customers and consist of commissions paid to the Company’s direct sales force and other marketing partners. Sales commissions are expensed when incurred as a component of sales and marketing expense and are generally paid one month in arrears. Commissions incurred, but not paid, are included in accrued expenses in the accompanying consolidated balance sheets. Sales commissions paid are subject to a claw back provision in the event a customer contract is cancelled in proportion to the remaining contract period at the date of cancellation and are recorded net of estimated claw backs in sales and marketing expense. Amounts charged back have not been material to the Company’s results of operations. | |
(q) Deferred Tax Assets and Liabilities | |
Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. To the extent that it is not considered to be more likely than not that a deferred tax asset will be realized, a valuation allowance is established. The Company applies the provisions of FASB interpretation No. 48, Accounting for Uncertainty in Income Taxes (FIN 48) (included in ASC Subtopic 740-10, Income Taxes—Overall), which provides guidance related to the accounting for uncertain tax positions. In accordance with FIN 48, the Company only recognizes the tax benefit from an uncertain tax position if it is more likely than not that the tax position will be sustained on examination. | |
(r) Stock-Based Compensation | |
The Company accounts for its employee stock-based compensation awards in accordance with FASB ASC Topic 718, Compensation—Stock Compensation. ASC Topic 718 requires that all employee stock-based compensation is recognized as a cost in the financial statements and that for equity-classified awards such cost is measured at the grant date fair value of the award. The Company estimates grant date fair value using the Black-Scholes option-pricing model. | |
Determining the fair value of stock-based compensation awards under this model requires judgment, including estimating the value per share of the Company’s common stock prior to the Company’s initial public offering in August 2013 (see note 9), estimated volatility, risk free rate, expected term and estimated dividend yield. The assumptions used in calculating the fair value of stock-based compensation awards represent the Company’s best estimates, based on management judgment. The estimate of the value per share of the Company’s common stock used in the option-pricing model is based on the contemporaneous valuations performed with the assistance of an unrelated third-party valuation specialist and management’s analysis of market transactions in proximity to the valuation dates. The estimated dividend yield is zero since the Company has not issued dividends to date and does not anticipate issuing dividends. The risk-free interest rate is based on the implied yield currently available on U.S. Treasury zero coupon issues with an equivalent remaining term. Due to its limited trading history, the Company estimates volatility for option grants by evaluating the average historical volatility of a peer group of similar public companies. The expected term of the Company’s option plans represent the period that its stock-based awards are expected to be outstanding. For purposes of determining the expected term, the Company applies the simplified approach, in which the expected term of an award is presumed to be the mid-point between the vesting date and the expiration date of the award. Awards generally vest over a service period of four years, with a maximum contractual term of ten years. | |
Pursuant FASB ASC Subtopic 718-10-35, Stock Compensation, the initial determination of compensation cost is based on the number of stock options granted amortized over the vesting period. The value of the awards granted is discounted by the forfeiture rate equal to the value expected to vest. The forfeiture rate was derived by taking into consideration historical employee turnover rates as well as expectations for the future. Expense is recognized using the straight-line attribution method. | |
(s) Comprehensive Income (Loss) | |
There was no difference between net income (loss) presented in the consolidated statements of operations and comprehensive income (loss) for each of the years ended December 31, 2013, 2012 and 2011. | |
(t) Foreign Currency Transactions | |
The Company’s foreign subsidiary in India designates the U.S. dollar as the functional currency. For the subsidiary, assets and liabilities denominated in foreign currency are remeasured into U.S. dollars at current exchange rates for monetary assets and liabilities and historical exchange rates for nonmonetary assets and liabilities. Foreign currency gains and losses associated with remeasurement are included in general and administrative expense in the consolidated statements of operations. | |
Foreign currency losses associated with transactions and remeasurement were $1,796, $286 and $1,619 for the years ended December 31, 2013, 2012 and 2011, respectively. | |
(u) Non-Monetary Transactions | |
The Company occasionally participates in non-monetary transactions with its customers in exchange for marketing and other services. The cost of the services received approximate the value of the services provided and as a result no gain or loss is recognized on the transaction. Non-monetary transactions totaled $592 and $362 for the years ended December 31, 2013 and 2012, respectively. The Company did not have any non-monetary transactions during the year ended December 31, 2011. | |
(v) Fair Value Measurements | |
Fair value represents the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs. The fair value hierarchy is based on the following three levels of inputs, of which the first two are considered observable and the last one is considered unobservable: | |
Level 1 Inputs: Unadjusted quoted prices in active markets for identical assets or liabilities accessible to the reporting entity at the measurement date. | |
Level 2 Inputs: Other than quoted prices included in Level 1 inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the asset or liability. | |
Level 3 Inputs: Unobservable inputs that require the Company to use present value and other valuation techniques in the determination of fair value. | |
The Company’s financial instruments include cash and cash equivalents, restricted cash, short-term investments, accounts receivable, accounts payable and accrued liabilities. The carrying value of these financial instruments on the consolidated balance sheets approximate their fair value based on their short-term nature. | |
The Company is also subject to certain contingent consideration arrangements associated with recent acquisitions that are based on achieving specified operating targets and the passage of time. Assumptions including revenue forecasts, future market opportunities, complexity and size of addressable markets and the scalability of the product are developed to determine the fair value of such contingent consideration. In addition, the probability of achieving the specified targets is considered in determining the fair value of the contingent consideration included in the purchase price. Cvent will continue to remeasure contingent consideration to fair value at each reporting date, and will recognize any changes to the fair value in earnings for any changes resulting from events after the acquisition date, such as meeting a sales target. |
Net_Income_Loss_Per_Share
Net Income (Loss) Per Share | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Earnings Per Share [Abstract] | ' | ||||||||||||
Net Income (Loss) Per Share | ' | ||||||||||||
3. Net Income (Loss) Per Share | |||||||||||||
The Company calculates basic net income per share of common stock by dividing net income attributable to the common stockholders for the period by the weighted-average number of shares of common stock and participating convertible preferred stock outstanding during the period. The Company calculates diluted net income per share by dividing net income attributable to the Company for the period by the weighted-average number of shares of common stock and convertible preferred stock outstanding during the period, plus any dilutive effect from share-based equity awards and warrants during the period, as calculated in 2012 using the treasury stock method. The Series A Convertible Preferred Stock does not participate in earnings differently than common stock. Accordingly, the net income attributable to common and preferred stockholders would be divided proportionately by the number of shares outstanding of each and there would be no difference in the determination of basic and diluted net income per share calculated separately for common and preferred stock. Included in the diluted weighted average shares outstanding is the effect of early option exercises of 573,941 shares on June 13, 2012. These shares are removed from the basic earnings per share calculation as the shares can be repurchased by the Company prior to the vesting date should employment of the early exercised option shareholders be terminated. The computation of basic and diluted net income (loss) per share is as follows: | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Net income (loss) | $ | (3,239 | ) | $ | 4,305 | $ | (184 | ) | |||||
Weighted average number of shares outstanding: | |||||||||||||
Weighted average common shares outstanding | 25,289,788 | 15,748,551 | 16,757,527 | ||||||||||
Effect of convertible preferred stock | — | 17,418,807 | — | ||||||||||
Weighted average shares outstanding for basic earnings per share | 25,289,788 | 33,167,358 | 16,757,527 | ||||||||||
Effect of share-based equity award plan | — | 1,555,447 | — | ||||||||||
Effect of warrants | — | 67,832 | — | ||||||||||
Weighted average shares outstanding for diluted earnings per share | 25,289,788 | 34,790,637 | 16,757,527 | ||||||||||
Net income (loss) per share: | |||||||||||||
Basic | $ | (0.13 | ) | $ | 0.13 | $ | (0.01 | ) | |||||
Diluted | $ | (0.13 | ) | $ | 0.12 | $ | (0.01 | ) | |||||
The weighted average number of shares outstanding used in the computation of basic and diluted loss per share for the year ended December 31, 2013 does not include the effect of 10,499,007 convertible preferred stock, as these shares are not obligated to participate in losses. The weighted average number of shares outstanding used in the computation of diluted loss per share for the year ended December 31, 2013 does not include the effect of 2,050,265 stock options, warrants, and restricted stock units. The effects of these potentially outstanding shares were not included in the calculation of diluted loss per share because the effect would have been anti-dilutive. | |||||||||||||
The weighted average number of shares outstanding used in the computation of basic and diluted loss per share for the year ended December 31, 2011 does not include the effect of 17,418,807 convertible preferred stock, as these shares are not obligated to participate in losses. The weighted average number of shares outstanding used in the computation of diluted loss per share for the year ended December 31, 2011 does not include the effect of 1,839,607 stock options and warrants and convertible preferred stock. The effects of these potentially outstanding shares were not included in the calculation of diluted loss per share because the effect would have been anti-dilutive. |
Acquisitions
Acquisitions | 12 Months Ended | ||||
Dec. 31, 2013 | |||||
Business Combinations [Abstract] | ' | ||||
Acquisitions | ' | ||||
4. Acquisitions | |||||
The Company made no acquisitions during the years ended December 31, 2013 and 2011. The Company made the following acquisitions during 2012: | |||||
Seed Labs | |||||
On January 17, 2012, the Company acquired all outstanding units of Seed Labs, LLC, a developer of mobile apps for consumer events. Upon completion of the acquisition the Company re-branded Seed Labs, LLC with the name CrowdTorch (“CrowdTorch”). CrowdTorch was acquired for total consideration of $2,398 in cash and stock consideration. The Company funded the purchase price with $1,406 of cash (net of cash acquired) and from the issuance of 116,925 shares of common stock with an estimated fair value of $935 at the date of acquisition. Of the total consideration, $57 was not paid as of December 31, 2012, and will be paid out over a three year period as deferred consideration. The present value of the deferred consideration was not materially different from the fair value. In addition, nominal contingent consideration of up to $43 based on the achievement of certain revenue targets has not been included in purchase price as the probability of achieving the targets was considered remote. | |||||
The table below represents the allocation of the purchase price for the acquired net assets of CrowdTorch based on their estimated fair values as of January 17, 2012. The allocation of the purchase price was based upon estimates of fair value of the corresponding assets and liabilities as follows: | |||||
Tangible assets | $ | 269 | |||
Software technology | 423 | ||||
Customer relationships | 70 | ||||
Goodwill | 1,909 | ||||
Current liabilities | (273 | ) | |||
Total consideration | $ | 2,398 | |||
In addition to amounts included as purchase consideration, the purchase agreement also provides for additional amounts totaling $1,167 to be paid over specified periods of time (deferred payments) or upon the achievement of specified targets (earn-outs) over one to three years. These additional payments are contingent upon the continued employment of those eligible to receive the payments and are considered compensatory arrangements that are being recognized as expense over the requisite service period, as earned. As of December 31, 2013 and 2012, the Company accrued approximately $280 of additional payments under these provisions, which were paid in January 2013 and 2014, respectively. Additionally, the purchase agreement also provides for payments of up to $893 upon the attainment of certain sales targets as well as on continued employment. These additional payments are deemed to be compensatory arrangements that will be recognized as expense over the requisite service period, as earned, but only to the extent that defined sales targets are forecasted to be met. As of December 31, 2013 and 2012, no amounts related to these provisions were accrued as the Company believes the likelihood of making contingent payments associated with the sales targets to be remote. | |||||
Software technology represents the estimated fair value of CrowdTorch’s mobile app development software. Customer relationships represent the fair values of the underlying relationships and agreements with CrowdTorch customers. The excess of purchase consideration over the fair value of the net tangible and identifiable intangible assets acquired of $1,909 was recorded as goodwill and was primarily attributed to enhanced marketing opportunities within the consumer event planning market. | |||||
Acquisition-related costs of $77 including transaction costs such as legal and accounting fees were expensed as incurred. The acquisition-related costs are included in general and administrative expenses in the consolidated statements of operations. | |||||
CrowdCompass | |||||
On June 12, 2012, the Company completed the acquisition of all of the capital stock of CrowdCompass, Inc. (“CrowdCompass”) for total consideration of $5,977, which consisted of $5,831 in cash (net of cash acquired and settlement of debt) and deferred consideration of $200 (fair value $146) to be paid over a three-year period. The acquisition of CrowdCompass was to, among other reasons, expand the Companies offering of event planning tools to include mobile apps for business events. | |||||
The table below represents the allocation of the purchase price for the acquired net assets of CrowdCompass based on their estimated fair values as of June 12, 2012. The allocation of the purchase price was based upon estimates of fair value of the corresponding assets and liabilities as follows: | |||||
Tangible assets | $ | 296 | |||
Software technology | 1,400 | ||||
Customer relationships | 550 | ||||
Trademarks / trade names | 180 | ||||
Deferred tax asset | 329 | ||||
Goodwill | 4,752 | ||||
Current liabilities | (688 | ) | |||
Deferred tax liability | (842 | ) | |||
Total consideration | $ | 5,977 | |||
In addition to amounts included as purchase consideration, the purchase agreement also provides for additional amounts totaling $3,800 to be paid over specified periods of time (deferred payments) or upon the achievement of specified targets (earn-outs) over one to three years. These additional payments are contingent upon the continued employment of those eligible to receive the payments and are considered compensatory arrangements that are being recognized as expense over the requisite service period, as earned. At December 31, 2013 and 2012, $1,062 and $736 related to these provisions were accrued, and $1,388 was paid during the year ended December 31, 2013. | |||||
Software technology represents the estimated fair value of CrowdCompass’s mobile app development software. Customer relationships represent the fair values of the underlying relationships and agreements with CrowdCompass customers. The trademarks/trade names represent the CrowdCompass trademarks and trade names that the Company intends to use for a fixed period of time. The excess of purchase consideration over the fair value of the net tangible and identifiable intangible assets acquired of $4,752 was recorded as goodwill. Changes to amounts recorded as assets or liabilities, may result in a corresponding adjustment to goodwill. The goodwill balance is attributed to the assembled workforce, event planning synergies and cost reductions gained through integration. The goodwill balance is deductible for U.S. income tax purposes. | |||||
Acquisition-related costs of $232 including transaction costs such as legal and accounting fees were expensed as incurred. The acquisition-related costs are included in general and administrative expenses in the consolidated income statements. | |||||
The Company’s acquired entity, CrowdCompass, LLC, had generated certain federal and state net operating losses in 2011 and 2012, which were not limited by Internal Revenue Code section 382. These net operating losses were not previously included in the Company’s purchase accounting. During 2013, in connection with the finalization of the purchase accounting an additional net operating loss of $329 was recorded as an adjustment to goodwill. | |||||
TicketMob | |||||
In December 2012, the Company completed the acquisition of TicketMob LLC (“TicketMob”) for total consideration of $5,918 to, among other things, extend the Company’s ability to provide a more comprehensive solution for business-to-business event planning worldwide as well as enter the business-to-consumer market. The $5,918 acquisition price includes $5,223 in cash (net of cash acquired), $250 retained as litigation holdback and $445, to be paid in equal installments on the 18-month and 36-month anniversary of the transaction. The present value of the consideration was not materially different from the fair value. The purchase agreement also provides for additional payments up to $6,494 (“contingent consideration”), based upon achievement of certain revenue targets. The estimated fair value of the contingent consideration is nominal, based on the Company’s assessment of the probability of achieving the contractual revenue targets, as adjusted to present value. As a result, no additional consideration was included in the total purchase price. The Company will record any adjustments to the fair value of the contingent consideration each reporting period based on TicketMob’s achievement of revenue targets as it relates to the contingent consideration. Any changes in fair value of contingent consideration will be recorded in the consolidated statement of operations. | |||||
In addition, the Company is obligated to pay $1,055, contingent on continued employment, in equal installments on the 18-month and 36-month anniversaries of the acquisition. This amount will be accrued over the 36-month period as earned based upon service to the Company. At December 31, 2013 and 2012, $445 and zero related to these additional payments were accrued, and nothing was paid. Additionally, the purchase agreement provides for up to an additional $7,006 in payments contingent upon the attainment of certain revenue targets as well as on continued employment. These additional payments are deemed to be compensatory arrangements that will be recognized as expense over the requisite service period, as earned, but only to the extent that defined revenue targets are forecasted to be met. As of December 31, 2013 and 2012, no amounts related to these provisions have been accrued as TicketMob was acquired on the last day of calendar year 2012 and no amounts have been earned. The Company believes the likelihood of making contingent payments associated with the acquisition to be remote. | |||||
The table below represents the allocation of the purchase price for the acquired net assets of TicketMob based on their estimated fair values as of December 31, 2012. The allocation of the purchase price was based upon estimates of fair value of the corresponding assets and liabilities as follows: | |||||
Tangible assets | $ | 1,495 | |||
Software technology | 437 | ||||
Customer relationships | 1,096 | ||||
Trademarks / trade names | 82 | ||||
Goodwill | 6,042 | ||||
Current liabilities | (3,234 | ) | |||
Total consideration | $ | 5,918 | |||
Software technology represents the estimated fair value of TicketMob’s ticketing and venue management platform. Customer relationships represent the fair values of the underlying relationships and agreements with TicketMob customers. The trademarks / trade names represent the TicketMob trademarks and tradenames that the Company intends to use for a given period of time. The excess of purchase consideration over the fair value of the net tangible and identifiable intangible assets acquired of $6,042 was recorded as goodwill. Changes to amounts recorded as assets or liabilities, may result in a corresponding adjustment to goodwill. The goodwill balance is attributed to the assembled workforce and expanded market opportunities when integrating TicketMob’s ticketing and venue management platform with the Company’s suite of event planning tools. The goodwill balance is deductible for U.S. income tax purposes. | |||||
Acquisition-related costs of $173 including transaction costs such as legal and accounting fees were expensed as incurred. The acquisition-related costs are included in general and administrative expenses in the consolidated income statements. | |||||
During 2013, in connection with the finalization of the purchase accounting a reduction of $435 in accounts receivable and an increase of $92 in accounts payable were recorded as an increase to goodwill. |
Property_and_Equipment_and_Cap
Property and Equipment and Capitalized Software Development Costs | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Property Plant And Equipment [Abstract] | ' | ||||||||
Property and Equipment and Capitalized Software Development Costs | ' | ||||||||
5. Property and Equipment and Capitalized Software Development Costs | |||||||||
Property and equipment and capitalized software development costs are summarized as follows: | |||||||||
December 31, | |||||||||
2013 | 2012 | ||||||||
Computer equipment and purchased software | $ | 9,278 | $ | 8,226 | |||||
Furniture and equipment | 3,864 | 2,773 | |||||||
Leasehold improvements | 6,293 | 4,561 | |||||||
Work in Progress | 99 | — | |||||||
Automobile | 67 | 43 | |||||||
19,601 | 15,603 | ||||||||
Less accumulated depreciation | (11,695 | ) | (8,847 | ) | |||||
Total property and equipment, net | $ | 7,906 | $ | 6,756 | |||||
Capitalized software development costs | $ | 18,134 | $ | 10,990 | |||||
Less accumulated amortization | (8,870 | ) | (5,562 | ) | |||||
Total capitalized software development costs | $ | 9,264 | $ | 5,428 | |||||
Depreciation expense on property and equipment was $3,665, $2,623 and $1,891 during the years ended December 31, 2013, 2012 and 2011, respectively. Amortization expense on capitalized software development costs was $3,308, $2,504 and $2,026 during the years ended December 31, 2013, 2012 and 2011, respectively. |
Goodwill_and_Intangible_Assets
Goodwill and Intangible Assets | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||
Goodwill And Intangible Assets Disclosure [Abstract] | ' | ||||||||||||||||||||
Goodwill and Intangible Assets | ' | ||||||||||||||||||||
6. Goodwill and Intangible Assets | |||||||||||||||||||||
The following table presents the change in carrying amount of goodwill due to the finalization of purchase accounting: | |||||||||||||||||||||
Goodwill as of December 31, 2012 | $ | 12,505 | |||||||||||||||||||
Adjustment to Crowd Compass goodwill (note 4) | (329 | ) | |||||||||||||||||||
Adjustment to TicketMob goodwill (note 4) | 527 | ||||||||||||||||||||
Goodwill as of December 31, 2013 | $ | 12,703 | |||||||||||||||||||
Intangible assets were acquired through acquisitions completed during the year ended December 31, 2012. Intangible assets are amortized on a straight line basis over their estimated useful lives between four and six years. The following table summarizes intangible assets as of December 31, 2013 and 2012: | |||||||||||||||||||||
Net carrying | Additions | Amortization | Net carrying | Weighted | |||||||||||||||||
amount | amount | average | |||||||||||||||||||
December 31, | December 31, | life as of | |||||||||||||||||||
2012 | 2013 | December 31, | |||||||||||||||||||
2013 | |||||||||||||||||||||
Customer relationships | 1,650 | $ | — | $ | 292 | $ | 1,358 | 6 years | |||||||||||||
Software technology | 2,027 | — | 452 | 1,575 | 5 years | ||||||||||||||||
Trademarks/Tradenames | 242 | — | 52 | 190 | 5 years | ||||||||||||||||
Total intangible assets | 3,919 | $ | — | $ | 796 | $ | 3,123 | ||||||||||||||
The total amount of amortization expense relating to acquired intangibles was $796 and $319 during the years ended December 31, 2013 and 2012, respectively. The intangible balance remaining as of December 31, 2013 will be amortized in future periods as follows: | |||||||||||||||||||||
2014 | $ | 796 | |||||||||||||||||||
2015 | 796 | ||||||||||||||||||||
2016 | 780 | ||||||||||||||||||||
2017 | 526 | ||||||||||||||||||||
2018 | 225 | ||||||||||||||||||||
Total | $ | 3,123 | |||||||||||||||||||
Income_Taxes
Income Taxes | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||||||
Income Taxes | ' | ||||||||||||
7. Income Taxes | |||||||||||||
The Company’s income before taxes was taxed as indicated in the following jurisdictions: | |||||||||||||
Years ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Pretax income (loss): | |||||||||||||
U.S. | $ | (1,119 | ) | $ | 6,638 | $ | 2,818 | ||||||
Foreign | 195 | 2,073 | (253 | ) | |||||||||
Total | $ | (924 | ) | $ | 8,711 | $ | 2,565 | ||||||
The components of the provision for income taxes attributable to continuing operations are as follows: | |||||||||||||
Year ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Current income tax expense: | |||||||||||||
U.S. federal | $ | 367 | $ | 3,132 | $ | 1,786 | |||||||
U.S. state and local | 272 | 900 | 424 | ||||||||||
Foreign jurisdiction | 888 | 808 | 714 | ||||||||||
Total current tax expense | $ | 1,527 | $ | 4,840 | $ | 2,924 | |||||||
Deferred income tax expense (benefit): | |||||||||||||
U.S. federal | $ | 1,081 | $ | (304 | ) | $ | (102 | ) | |||||
U.S. state and local | 196 | (81 | ) | (18 | ) | ||||||||
Foreign jurisdiction | (489 | ) | (49 | ) | (55 | ) | |||||||
Total deferred tax expense (benefit) | 788 | (434 | ) | (175 | ) | ||||||||
Total income tax provision | $ | 2,315 | $ | 4,406 | $ | 2,749 | |||||||
A reconciliation between the Company’s statutory tax rate and the effective tax rate is as follows: | |||||||||||||
Year ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
U.S. federal statutory rate | 34 | % | 35 | % | 34 | % | |||||||
Increase (reduction) resulting from: | |||||||||||||
U.S. state income taxes, net of federal benefits | (26.3 | ) | 5.9 | 4.7 | |||||||||
Stock compensation adjustment | (144.8 | ) | 16.1 | 43 | |||||||||
Non-deductible/non-taxable items | (22.8 | ) | 2.3 | 30.9 | |||||||||
Uncertain tax positions | (66.0 | ) | 1.2 | 11.2 | |||||||||
Acquisition related expenses | (56.7 | ) | — | — | |||||||||
Benefit of credits | 97.3 | (9.1 | ) | (5.3 | ) | ||||||||
Provision to return differences | (34.3 | ) | — | (15.9 | ) | ||||||||
Foreign tax rate differential | (11.2 | ) | (0.6 | ) | 5.4 | ||||||||
Other | 8.5 | (0.5 | ) | (0.5 | ) | ||||||||
Change in Valuation Allowance | (23.4 | ) | — | — | |||||||||
Foreign tax expense | (4.9 | ) | — | — | |||||||||
(250.6 | %) | 50.3 | % | 107.5 | % | ||||||||
The Company’s effective tax rate declined significantly from 2012 to 2013 primarily due to the decline in pre-tax book income. As the Company has a book loss during 2013, the adjustments to the statutory rate have a negative rate impact compared to the impact in 2012 The most significant drivers to the effective tax rate are the permanent adjustment required for stock compensation for incentive stock options, the capitalization of certain costs related to acquisitions, and the benefit related to the research and development credit. | |||||||||||||
Significant components of the Company’s deferred tax assets and liabilities are as follows: | |||||||||||||
December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Deferred tax assets: | |||||||||||||
Allowance for doubtful accounts | $ | 279 | $ | 199 | $ | 125 | |||||||
Reserves | 1,110 | 823 | 910 | ||||||||||
Deferred rent | 427 | 488 | 374 | ||||||||||
Accrued expenses and other | 1,583 | 674 | 595 | ||||||||||
Foreign tax credit carryforward | 329 | 185 | 136 | ||||||||||
Stock compensation | 88 | 790 | 317 | ||||||||||
Net operating loss carryforwards | 945 | 970 | 1,029 | ||||||||||
Total deferred tax assets | $ | 4,761 | $ | 4,129 | $ | 3,486 | |||||||
Deferred tax liabilities: | |||||||||||||
Basis difference in fixed assets | $ | (408 | ) | $ | (914 | ) | $ | (967 | ) | ||||
Capitalized software development costs | (3,715 | ) | (2,147 | ) | (1,631 | ) | |||||||
Intangibles—acquisitions | (450 | ) | (614 | ) | — | ||||||||
Total deferred tax liabilities | (4,573 | ) | (3,675 | ) | (2,598 | ) | |||||||
Valuation Allowance | (194 | ) | — | — | |||||||||
Net deferred tax asset (liability) | $ | (6 | ) | $ | 454 | $ | 888 | ||||||
In assessing the Company’s ability to realize the future benefit associated with its deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets may not be realized. The ultimate realization is dependent on the generation of taxable income within the periods that those temporary differences become deductible. The Company has not recorded a valuation allowance for its U.S. deferred tax assets due to management’s assessment that it is more-likely-than-not that the Company will be able to realize these tax assets. | |||||||||||||
The Company has recorded a valuation allowance on foreign net operating loss carryforwards in the UK and does not currently anticipate recording an income tax benefit related to these deferred tax assets. The Company will reassess the realization of deferred tax assets based on accounting standards for income taxes each reporting period and will be able to reduce the valuation allowance to the extent that the financial results of these operations improve and it becomes more likely than not that the deferred tax assets are realizable. | |||||||||||||
During the fourth quarter of 2013, the Company established new operations in India that management believes are eligible for tax benefits under the Special Economic Zones (“SEZ”) Act, 2005. The SEZ legislation introduced a 15-year tax holiday for operations established in designated “special economic zones” or SEZs. Under the SEZ legislation, qualifying operations are eligible for a deduction from taxable income equal to (i) 100% of their export profits derived for the first five years from the commencement of operations; (ii) 50% of such export profits for the next five years; and (iii) 50% of the export profits for a further five years, subject to satisfying certain capital investment requirements. The tax holiday for the Company will expire in 2028. | |||||||||||||
The percentage of the Company’s operations in India that is eligible for SEZ benefits is variable, and depends, among other factors, upon how much of our business can be conducted at the qualifying location and how much of that business can be considered to meet the restrictive conditions of the SEZ legislation. The benefit of the tax holiday under Indian Income Tax was $48 for the year ended December 31, 2013. | |||||||||||||
As the SEZ legislation benefits phase-out, the Company’s Indian tax expense may materially increase and its after-tax profitability may be materially reduced, unless the Company can obtain comparable benefits under new legislation or otherwise reduce the Company’s tax liability. | |||||||||||||
The Company had approximately $1,972, $2,488 and $2,735 of federal net operating loss carryforwards at December 31, 2013, 2012 and 2011, respectively. The tax effected amounts of these carryforward are $690, $871 and $930 at December 31, 2013, 2012 and 2011, respectively. Additionally the tax effected state net operating carryforwards are $59, $99 and $99 at the years ended December 31, 2013, 2012 and 2011. The net operating loss carryforwards will expire, if unused, in varying amounts beginning in 2021. The realization of the benefits of the net operating loss carryforwards is dependent on sufficient taxable income in future years. Among other things, the lack of future earnings, or a change in ownership of the Company, could adversely affect the Company’s ability to utilize the net operating loss carryforward to reduce future current tax expense. | |||||||||||||
The Company had an ownership change in a prior year, as defined by Internal Revenue Code section 382, which triggered a limitation on the amount of net operating loss carryforward available to offset annual taxable income. The remaining net operating loss carryforward at December 31, 2013 and 2012 is subject to an annual limitation of approximately $246. Management has determined the Company will be able to utilize its net operating loss carryforwards subject to Section 382 limitations during the carryforward period. | |||||||||||||
In general, it is the practice and intention of the Company to reinvest the earnings of its non-U.S. subsidiaries in those operations. As of December 31, 2013, the Company has not made a provision for U.S. or additional foreign withholding taxes on approximately $1,548 of the excess of the amount for financial reporting over the tax basis of investments in foreign subsidiaries that is indefinitely reinvested. Generally, such amounts become subject to U.S. taxation upon the remittance of dividends and under certain other circumstances. It is not practicable to estimate the amount of deferred tax liability related to investments in these foreign subsidiaries. | |||||||||||||
The Company applies the provisions of ASC 740-10 to uncertain tax positions. ASC 740-10 clarifies accounting for income taxes by prescribing a minimum probability threshold that a tax position must meet before a financial statement benefit is recognized. If the probability for sustaining a tax position is greater than 50%, then the tax position is warranted and recognition should be at the highest amount which would be expected to be realized upon ultimate settlement. The impact of the adoption of ASC 740-10 did not have a material effect on the consolidated financial statements of the Company. | |||||||||||||
The following table presents a reconciliation of the beginning and ending amount of unrecognized tax benefits: | |||||||||||||
December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Unrecognized tax benefits, opening balance | $ | 614 | $ | 508 | $ | 36 | |||||||
Gross increases—tax positions in prior period | 83 | — | 220 | ||||||||||
Gross decreases—tax positions in prior period | (72 | ) | 1 | — | |||||||||
Gross increases—current-period tax positions | 543 | 105 | 252 | ||||||||||
Unrecognized tax benefits, ending balance | $ | 1,168 | $ | 614 | $ | 508 | |||||||
The Company’s tax reserves relate to federal, state and international tax issues. The Company does not believe it is reasonably possible that the composition of its unrecognized tax benefits would materially change in the next 12 months. | |||||||||||||
Included in the balance of unrecognized tax benefits as of December 31, 2013, 2012 and 2011, are $840, $435 and $372 respectively, of tax benefits that, if recognized, would impact the effective tax rate. Also included in the balance of unrecognized tax benefits as of December 31, 2013, 2012 and 2011 are $328, $179 and $136 respectively, of tax benefits that, if recognized, would result in adjustments to other tax accounts, primarily deferred taxes. | |||||||||||||
The Company is subject to U.S. federal income tax and state and local income tax in multiple jurisdictions. With few exceptions, the Company is no longer subject to income tax examinations by the U.S. federal, state or local tax authorities for years before 2010. While the federal statute of limitations generally is three years, the IRS can re-determine items in tax years normally barred by the statute of limitations if a net operating loss utilized in an open year was carried over from a closed year. | |||||||||||||
The Company’s practice is to recognize interest and penalties related to uncertain tax positions in income tax expense. The amount of interest and penalties included in income tax expense for the year ended December 31, 2013, 2012 and 2011 was approximately $111, $50 and $258, respectively. |
StockBased_Compensation
Stock-Based Compensation | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' | ||||||||||||||||
Stock-Based Compensation | ' | ||||||||||||||||
8. Stock-Based Compensation | |||||||||||||||||
The Company provides equity based compensation awards to employees and non-employees and directors for the purpose of providing an effective means for attracting, retaining and motivating directors, officers and key employees and to provide them with incentives to enhance the Company’s growth and profitability. Prior to the Company’s IPO in August 2013, these awards were provided under the 1999 Plan. Subsequent to the Company’s IPO, the 1999 Plan was replaced by the 2013 Plan. | |||||||||||||||||
2013 Plan | |||||||||||||||||
On July 5, 2013, the Company’s board of directors adopted a 2013 Equity Incentive Plan (or the “2013 Plan”), which was approved by the Company’s stockholders on July 25, 2013. The 2013 Plan was effective upon the effective date of the Company’s IPO, August 8, 2013. The 2013 Plan provides for the grant of incentive stock options, within the meaning of Section 422 of the Internal Revenue Code, to employees and any parent and subsidiary corporations’ employees, and for the grant of non-statutory stock options, restricted stock, restricted stock units, stock appreciation rights, performance units and performance shares to employees, directors and consultants of the Company and its subsidiaries. The 2013 Plan is administered by the Company’s board of directors or the compensation committee of the board of directors, including the ability to determine the terms of awards and the authority to amend existing awards. The 2013 Plan will automatically terminate in 2023, unless terminated sooner by the plan administrator. | |||||||||||||||||
The 2013 Plan generally includes the following provisions relative to the awards available for grant under the plan: | |||||||||||||||||
Stock Options. The exercise price of options granted under the 2013 Plan must at least be equal to the fair market value per share of the Company’s common stock on the date of grant. Upon termination, vested options are generally exercisable for three months, but in no event exercisable after the term of the option, which is generally ten years. Option awards have various terms and vest at various times from the date of grant, with most options vesting in tranches generally over four years. | |||||||||||||||||
Restricted Stock Units. Restricted stock units are bookkeeping entries representing an amount equal to the fair market value of one share of the Company’s common stock. The administrator determines the terms and conditions of restricted stock units, including the vesting and the form and timing of payment. | |||||||||||||||||
Other Key Provisions. All non-employee directors are eligible to receive all types of awards (except for incentive stock options) under the 2013 Plan and generally, awards are not transferable. In the event of a merger or change in control, as defined under the 2013 Plan, if a successor corporation does not assume or substitute an equivalent award for any outstanding award under the 2013 Plan, then such outstanding award will fully vest, all restrictions on such award will lapse, all performance goals or other vesting criteria applicable to such award will be deemed achieved at 100% of target levels and such award will become fully exercisable, for a specified period. | |||||||||||||||||
As of December 31, 2013, awards granted under the 2013 Plan consisted of stock options and restricted stock units. There were no other grants of any other award types under the plan. | |||||||||||||||||
The shares to be reserved for issuance under the 2013 Plan also include shares returned to the 1999 Plan as the result of expiration or termination of awards up to a maximum of 4,600,000. The number of shares available for issuance under the 2013 Plan will also include an annual increase on the first day of each fiscal year beginning in 2014, equal to the least of: | |||||||||||||||||
• | 4,000,000 shares; | ||||||||||||||||
• | 5% of the outstanding shares of our common stock as of the last day of our immediately preceding year; or | ||||||||||||||||
• | such other amount as our board of directors may determine. | ||||||||||||||||
At December 31, 2013, there were 4,921,792 shares available for the Company to grant under the 2013 Plan. On January 1, 2014, the shares available for issuance increased 2,010,384 pursuant to the automatic share reserve increase provision under the 2013 Plan. | |||||||||||||||||
1999 Plan | |||||||||||||||||
The Company’s board of directors adopted a stock incentive plan (the “1999 Plan”). In August 1999, and the Company’s stockholders approved it in March 2000. The 1999 Plan was amended in July 2011. | |||||||||||||||||
Prior to the Company’s IPO, the 1999 Plan provided for the grant of incentive stock options, within the meaning of Section 422 of the Internal Revenue Code, to employees and any parent and subsidiary corporations’ employees, and for the grant of nonstatutory stock options and restricted stock and stock appreciation rights to employees, directors and consultants and any parent and subsidiary corporations’ employees and consultants. On August 8, 2013, the date of effectiveness of the registration statement for the Company’s IPO, the Company ceased using the 1999 Stock Plan to grant new equity awards, and began using the 2013 Equity Incentive Plan for grants of new equity awards. Accordingly, as of December 31, 2013, no shares were available for future grant under the 1999 Stock Plan. However, the 1999 Stock Plan will continue to govern the terms and conditions of outstanding awards granted thereunder. | |||||||||||||||||
Stock-based Compensation Expense | |||||||||||||||||
The following table details the components of stock-based compensation expense recognized in earnings in each as follows: | |||||||||||||||||
Years ended December 31, | |||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||
Stock Options | $ | 2,552 | $ | 2,035 | $ | 1,441 | |||||||||||
Restricted stock units | 58 | — | — | ||||||||||||||
Common stock warrants | 299 | 206 | 859 | ||||||||||||||
Common stock call option | 1,824 | 2,965 | 1,651 | ||||||||||||||
$ | 4,733 | $ | 5,206 | $ | 3,951 | ||||||||||||
Stock Options | |||||||||||||||||
The grant-date fair value of each option award is estimated on the date of grant using the Black-Scholes option-pricing model. The weighted average assumptions for 2013 and 2012 grants are provided in the table below. Because the Company’s shares were not publicly traded prior to August 9, 2013 and its shares were rarely traded privately, and due to the limited trading history since August 9, 2013, expected volatility is estimated based on the average historical volatility of similar entities with publicly traded shares. The risk-free rate for the expected term of the option is based on the U.S. Treasury yield curve at the date of grant. Expense is recognized using the straight-line attribution method. | |||||||||||||||||
The following is a summary of the assumptions used in the valuation of stock-based awards under the Black-Scholes model: | |||||||||||||||||
Year ended December 31, | |||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||
Dividend yield | 0 | % | 0 | % | 0 | % | |||||||||||
Volatility | 53.94 | % | 54.28 | % | 54.01 | % | |||||||||||
Expected term (years) | 6.43 | 6.49 | 6.38 | ||||||||||||||
Risk-free interest rate | 1.38 | % | 0.97 | % | 2.47 | % | |||||||||||
Stock option activity during the periods indicated is as follows: | |||||||||||||||||
Number of | Weighted | Weighted | Aggregate | ||||||||||||||
shares | average | average | intrinsic | ||||||||||||||
subject to | exercise | remaining | value | ||||||||||||||
option | price | contractual | |||||||||||||||
term | |||||||||||||||||
(years) | |||||||||||||||||
Balance at December 31, 2011 | 3,117,367 | $ | 1.76 | 8.79 | $ | 19,452 | |||||||||||
Granted | 396,625 | 6.76 | |||||||||||||||
Exercised | (118,842 | ) | 0.56 | ||||||||||||||
Forfeited | (105,111 | ) | 2.56 | ||||||||||||||
Balance at December 31, 2012 | 3,290,039 | 2.4 | 8.08 | 23,030 | |||||||||||||
Granted | 1,114,801 | 13.52 | |||||||||||||||
Exercised | (635,072 | ) | 1.47 | ||||||||||||||
Forfeited | (129,609 | ) | 7.5 | ||||||||||||||
Expired | (8,887 | ) | 1.18 | ||||||||||||||
Balance at December 31, 2013 | 3,631,272 | 5.78 | 7.85 | 111,150 | |||||||||||||
Exercisable at December 31, 2013 | 879,911 | $ | 1.6 | 6.72 | $ | 30,612 | |||||||||||
The weighted average grant date fair value of options granted during the years ended December 31, 2013 and 2012, was $7.20 and $4.68, respectively. The total intrinsic value of options exercised during the years ended December 31, 2013 and 2012, was $13,823 and $891, respectively. | |||||||||||||||||
The Company recorded stock-based compensation expense related to options of $2,552, $2,035 and $1,441 as of December 31, 2013, 2012 and 2011, respectively. | |||||||||||||||||
At December 31, 2013, there was $6,319 of total unrecognized compensation cost related to unvested stock options granted under the Plan. That cost is expected to be recognized over a weighted average period of 2.46 years. | |||||||||||||||||
On June 13, 2012, 573,941 of shares subject to option were exercised prior to vesting pursuant to an early exercise feature. The proceeds from the transaction are recorded as a liability within accrued and other current liabilities and other liabilities, non-current. These will be reclassified to common stock as the Company’s repurchase rights lapse. | |||||||||||||||||
Restricted Stock Units | |||||||||||||||||
During 2013, the Company issued restricted stock units (RSUs) to an employee and a non-employee director. The Company issued 5,555 RSUs to a non-employee director, which vest over one year. The Company issued 2,000 employee RSUs which vest over four years. | |||||||||||||||||
RSU activity during the periods indicated is as follows: | |||||||||||||||||
Number | Weighted | Weighted | Aggregate | ||||||||||||||
of shares | average | average | intrinsic | ||||||||||||||
subject to | share | remaining | value | ||||||||||||||
restriction | value | contractual | |||||||||||||||
term | |||||||||||||||||
(years) | |||||||||||||||||
Balance at January 1, 2013 | — | $ | — | — | $ | — | |||||||||||
Granted | 7,555 | 34.27 | |||||||||||||||
Exercised | — | — | |||||||||||||||
Forfeited | — | — | |||||||||||||||
Balance at December 31, 2013 | 7,555 | 34.27 | 1.18 | 275 | |||||||||||||
The related compensation expense for restricted stock units recognized during the year ended December 31, 2013 was $58. There was no compensation expense for restricted stock units recognized during the years ended December 31, 2012 and 2011 as there were no awards outstanding. | |||||||||||||||||
Common Stock Warrants | |||||||||||||||||
In 2011, the Company issued warrants to a non-employee to purchase 125,000 shares of common stock, with which it had an existing commercial agreement. The warrants had an exercise price of $1.80, vesting annually over a four-year period, and expiring on December 31, 2017. Additionally in 2011, the Company issued warrants to certain other non-employee stockholders for 203,700 shares of common stock at the exercise price of $1.80 per share, vesting immediately and expiring in 2018. | |||||||||||||||||
Unvested warrants to non-employees are re-measured at fair value as of each balance sheet date. The following is a summary of the weighted average assumptions used in the valuation of warrants under the Black-Scholes model at each balance sheet date: | |||||||||||||||||
Year ended | |||||||||||||||||
December 31, | |||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||
Dividend yield | 0 | % | 0 | % | 0 | % | |||||||||||
Volatility | 55 | % | 55 | % | 55.28 | % | |||||||||||
Expected term (years) | 4.63 | 5 | 6 | ||||||||||||||
Risk-free interest rate | 1.09 | % | 0.72 | % | 1.09 | % | |||||||||||
Common stock warrant activity during the periods indicated is as follows: | |||||||||||||||||
Number | Weighted | Weighted | Aggregate | ||||||||||||||
of shares | average | average | intrinsic | ||||||||||||||
subject to | exercise | remaining | value | ||||||||||||||
warrants | price | contractual | |||||||||||||||
term | |||||||||||||||||
(years) | |||||||||||||||||
Balance at January 1, 2011 | 22,559 | $ | 0.76 | 8.83 | $ | 23 | |||||||||||
Granted | 328,700 | 1.8 | |||||||||||||||
Exercised | (211,530 | ) | 1.72 | ||||||||||||||
Balance at December 31, 2011 | 139,729 | $ | 1.8 | 6.02 | $ | 866 | |||||||||||
Balance at December 31, 2012 | 139,729 | $ | 1.8 | 5.02 | $ | 1,006 | |||||||||||
Exercised | (14,729 | ) | 1.8 | ||||||||||||||
Repurchased | (125,000 | ) | 1.8 | ||||||||||||||
Balance at December 31, 2013 | — | — | — | — | |||||||||||||
There were no warrants granted in 2013 and 2012, no warrants exercised in 2012 and there are no warrants outstanding as of December 31, 2013 because all warrants have been exercised or repurchased. The weighted average grant date fair value of warrants granted during the years ended December 31, 2011 was $2.56. The total intrinsic value of warrants exercised during the year ended December 31, 2013 was $150. The total intrinsic value of warrants exercised during the years ended December 31, 2011 was $1,290. The total intrinsic value of warrants repurchased during the year ended December 31, 2013 was $1,275. The related compensation expense for non-employee warrants recognized during the years ended December 31, 2013, 2012 and 2011 recorded in general and administrative expense, was $299, $206 and $859, respectively. | |||||||||||||||||
At December 31, 2013, there was no unrecognized expense related to unvested warrants as there were no outstanding warrants. | |||||||||||||||||
Common Stock Call Option | |||||||||||||||||
In conjunction with the recapitalization and issuance of Series A Convertible Preferred Stock in July 2011, the Company entered into a stock repurchase agreement (the Agreement) with certain members of senior management. The Agreement included a contractual call option, providing the Company an option to repurchase up to 50% of the employee’s then outstanding shares of common stock for $7.80 per share in the event of resignation or termination by the employee. The call option was effective for the two-year period following the recapitalization transaction, expired on July 15, 2013, and represented a compensatory arrangement in that the key employees were required to continue employment for a period of two years to earn back the right to participate in any appreciation in the value of the underlying shares or be subject to repurchase under the Company’s call option. Pursuant to the terms of the Agreement, stock options that vest and are exercised by management during the two-year period of the Agreement become subject to the repurchase provisions. | |||||||||||||||||
The value of the effective stock options created upon execution of the Agreement was determined using a Black-Scholes pricing model, and the associated compensation expense is being recognized on a straight-line basis over the two-year period and is included in sales and marketing, research and development, and general and administrative expense in the accompanying consolidated statements of operations. Key assumptions used in the Black-Scholes pricing model were: | |||||||||||||||||
Dividend yield | 0 | % | |||||||||||||||
Volatility | 40 | % | |||||||||||||||
Expected term (years) | 2 | ||||||||||||||||
Risk-free interest rate | 0.37 | % | |||||||||||||||
The Company recorded stock-based compensation expense related to the employee’s compensatory arrangement created by the Company’s call option of $1,824, $2,965, and $1,651 as of December 31, 2013, 2012 and 2011, respectively. The call option agreement expired on July 15, 2013. | |||||||||||||||||
The Company repurchased 504,559 shares of common stock in September 2012 at $7.80 per share for a total of $3,936 under this agreement resulting from the exercise of its call option in connection with the termination of the former chief financial officer. The repurchased shares are held in treasury stock at cost. | |||||||||||||||||
Common Stock Valuations | |||||||||||||||||
Prior to the Company’s IPO in August 2013, the Company derived the value of its common stock using valuation models prepared by third parties. In addition, management and the Company’s Board of Directors also considered relevant market activity including the then anticipated IPO, and other events occurring in recent proximity to valuation dates, including the recapitalization transaction and issuance of New Series A Convertible Preferred Stock in July 2011 to determine an estimate of fair value per share for stock options granted prior to August 2013 and for options granted during the years ended December 31, 2012 and 2011. | |||||||||||||||||
Subsequent to the Company’s IPO, the value of the Company’s common stock was determined based on the closing market price of the Company’s common stock traded on the New York Stock Exchange. |
Stockholders_Equity
Stockholders' Equity | 12 Months Ended |
Dec. 31, 2013 | |
Equity [Abstract] | ' |
Stockholders' Equity | ' |
9. Stockholders’ Equity | |
Initial public offering | |
On August 14, 2013, the Company completed its Initial Public Offering (IPO) of common stock. In connection with the Company’s IPO, the Company’s Board of Directors and stockholders approved a 1-for-4 reverse stock split of its outstanding common stock and convertible preferred stock effective August 5, 2013. All share and per share amounts contained in the accompanying consolidated financial statements have been retroactively adjusted to reflect the reverse stock split. Upon completion of the Company’s IPO, (i) all outstanding shares of Series A Convertible Preferred Stock converted into an aggregate of 17,418,807 shares of common stock and (ii) the Company issued 6,440,000 shares of common stock resulting in net proceeds of $122.1 million after deducting the underwriters discount and offering expenses. | |
Preferred Stock | |
Concurrent with the IPO, the Company amended and restated its certificate of incorporation (“Amended Articles”) to authorize 100,000,000 shares of $0.001 undesignated preferred stock, of which, zero was outstanding as of December 31, 2013. Under the terms of the Amended Articles, the Company’s board is authorized to issue shares of preferred stock in one or more series without stockholder approval. The Company’s board of directors has the discretion to determine the rights, preferences, privileges and restrictions, including voting rights, dividend right, conversion rights, redemption privileges and liquidation preferences of each series of preferred stock issued. | |
Common Stock | |
Pursuant to the Amended Articles and concurrent with the Company’s IPO, the Company authorized 1,000,000,000 shares of $0.001 common stock, of which 39,889,577 and 15,380,969 shares were outstanding as of December 31, 2013 and 2012, respectively. The holders of the common stock are entitled to dividends only when declared out of legally available funds by the Board of Directors and subject to any preferential rights of any outstanding preferred stock. Each share of common stock has one vote and there are no cumulative rights to holders of common stock. The holders of common stock have no preemptive or conversion rights and he rights, preferences and privileges of the holders of common stock are subject to the rights of the holders of any series of preferred shares which may be designated and issued in the future | |
Treasury Stock | |
The Company repurchased 507,059 shares of common stock in 2012 for a total of $3,950, of which 504,559 shares and $3,936 related to the exercise of call options in connection with the termination of the former chief financial officer. The repurchased shares are held in treasury at cost. | |
Recapitalization and Series A Convertible Preferred Stock | |
In July 2011, all of the Company’s previously existing series of preferred stock were converted to common stock. The Company simultaneously issued and sold 17,418,807 shares of Series A Convertible Preferred Stock to new, unaffiliated investors at a price of $7.80 per share, generating proceeds of $135,023, net of transaction costs. Immediately thereafter, the Company repurchased 17,418,695 shares of common stock held by certain stockholders for an aggregate $135,525, net of $341 related to a cashless exercise. The repurchased shares were retired by the Company’s board of directors upon repurchase. | |
The Series A Convertible Preferred Stock was convertible at the option of the holder, at any time, on a one-to-one basis to common stock. The Series A Convertible Preferred Stock was not redeemable, had no preferences over the common stock with respect to dividends and voting rights, and had no liquidation preferences upon dissolution or winding up of the Company and was akin to common stock. The Series A Convertible Preferred Stock voted on an as-if converted to common stock basis. There were 17,418,807 shares of Series A Convertible Preferred Stock outstanding as of December 31, 2012. | |
In August 2013 and concurrent with the IPO, all of the shares of existing Series A Convertible Preferred Stock were converted into 17,418,807 shares of common stock at a one-to-one ratio. |
Retirement_Plans
Retirement Plans | 12 Months Ended |
Dec. 31, 2013 | |
Compensation And Retirement Disclosure [Abstract] | ' |
Retirement Plans | ' |
10. Retirement Plans | |
a) U.S. 401(k) Plan | |
All employees are eligible to participate in the Company’s Profit Sharing 401(k) Plan according to certain age and period of service restrictions. The Plan provides for discretionary Company contributions. No Company contributions were made during the years ended December 31, 2013, 2012 and 2011. | |
b) India Gratuity Plan | |
In addition, under the India Payment of Gratuity Act of 1972, the Company maintains a gratuity defined-benefit plan for eligible employees of the Company’s India subsidiary. Upon termination of an employee for any reason, the Company must pay the equivalent of 15 days of the current salary to the employee for each year of service. The benefit begins to accrue after five years of service. | |
The funding liability under the plan is actuarially-determined, based on a rate of interest of 9.3% and 8.5% and a retirement age of 58 years, and was $851 and $555 as of December 31, 2013 and 2012, respectively. The liability is included in accrued and other current liabilities in the accompanying consolidated balance sheets. Expense under the plan was $402, $145 and $207 for the years ended December 31, 2013, 2012 and 2011, respectively. The plan is currently unfunded. |
Commitments_and_Contingencies
Commitments and Contingencies | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Commitments And Contingencies Disclosure [Abstract] | ' | ||||||||||||||||
Commitments and Contingencies | ' | ||||||||||||||||
11. Commitments and Contingencies | |||||||||||||||||
a) Legal Proceedings, Regulatory Matters and Other Contingencies | |||||||||||||||||
From time to time, the Company may become involved in legal proceedings, regulatory matters or other contingencies in the ordinary course of its business. The Company is not presently involved in any legal proceeding, regulatory matter or other contingency that, if determined adversely to it, would individually or in the aggregate have a material adverse effect on its business, operating results, financial condition or cash flows. | |||||||||||||||||
b) Lease Agreements | |||||||||||||||||
The Company leases office facilities under non-cancelable operating leases with various expiration dates. The operating leases may include options that permit renewals for additional periods. Rent abatements and escalations are considered in the determination of straight-line rent expense for operating leases. Lease incentives are recorded as a deferred credit and recognized as a reduction to rent expense on a straight-line basis over the lease term. | |||||||||||||||||
Future minimum lease payments under non-cancelable operating leases as of December 31, 2013 are as follows: | |||||||||||||||||
2014 | $ | 2,907 | |||||||||||||||
2015 | 2,500 | ||||||||||||||||
2016 | 4,210 | ||||||||||||||||
2017 | 4,140 | ||||||||||||||||
2018 | 3,732 | ||||||||||||||||
2019 | 3,227 | ||||||||||||||||
Thereafter | 19,545 | ||||||||||||||||
Total minimum lease payments | $ | 40,261 | |||||||||||||||
Rent expense under the operating leases was $2,815, $2,080 and $1,667 for the years ended December 31, 2013, 2012 and 2011, respectively. | |||||||||||||||||
c) Strategic Partnership Agreement | |||||||||||||||||
The Company is a party to a strategic partnership agreement, pursuant to which the Company is obligated to make payments in exchange for the receipt of referrals from a provider’s existing customers. The Company pays a fee based on the actual number of referrals, subject to a minimum through November 18, 2013, after which payments become based on a set fee per quarter in exchange for the receipt of referrals from the providers existing customers. The agreement is effective until November 19, 2017. The Company accrued expenses totaling $280, $417 and $321 during the year ended December 31, 2013, 2012 and 2011, respectively, under this agreement. | |||||||||||||||||
d) Acquisition Payouts | |||||||||||||||||
A summary of the changes in the recorded amount of accrued compensation and consideration from acquisitions from December 31, 2012 to December 31, 2013 is as follows (dollars in thousands): | |||||||||||||||||
Acquisition: | Liability as of | Payments | Additional | Liability as of | |||||||||||||
December 31, | Accruals | December 31, | |||||||||||||||
2012 | 2013 | ||||||||||||||||
CrowdTorch (Seedlabs) | $ | 280 | (280 | ) | 280 | $ | 280 | ||||||||||
CrowdCompass | 736 | (1,388 | ) | 1,714 | 1,062 | ||||||||||||
TicketMob | — | — | 445 | 445 | |||||||||||||
$ | 1,016 | (1,668 | ) | 2,439 | $ | 1,787 | |||||||||||
The accrued compensation and consideration related to acquisition payouts is recorded within accrued and other current liabilities on the balance sheet. | |||||||||||||||||
On September 30, 2013, the Company amended its payout agreement with one of the individuals from its CrowdCompass acquisition due to the individual’s resignation from employment. The updated agreement removed the requirement for the individual to remain employed by the Company in order to receive payment and reduced the individual’s year three payout. As the amended agreement eliminates the service requirement, the full amount of the remaining year two and amended year three payouts was recorded as compensation expense in the third quarter of 2013 and is accrued as of December 31, 2013 and will be paid over the next two years. |
RelatedParty_Transactions
Related-Party Transactions | 12 Months Ended |
Dec. 31, 2013 | |
Related Party Transactions [Abstract] | ' |
Related-Party Transactions | ' |
12. Related-Party Transactions | |
The Company had no related party transactions during the years end December 31, 2013 and 2012. In July 2011, the Company repurchased 5,669,374 shares of its common stock held by the executive officers and directors at a purchase price of $7.80 per share for the aggregate amount of $44,221 which was included in total repurchases of common and preferred stock of $137,055. |
Segment_Information_and_Geogra
Segment Information and Geographic Data | 12 Months Ended |
Dec. 31, 2013 | |
Segment Reporting [Abstract] | ' |
Segment Information and Geographic Data | ' |
13. Segment Information and Geographic Data | |
The Company is organized and operates as a single reportable segment. The Company’s chief operating decision maker is its chief executive officer, who reviews financial information presented on a consolidated basis for the purpose of making operating decisions and assessing financial performance. | |
Platform subscription and marketing solutions revenue are principally derived from North America. Revenue from outside North America sources represented 10%, 9% and 7% of total revenue in 2013, 2012 and 2011, respectively. | |
Property and equipment in non-North American geographic locations represented 48% and 26% of total assets as of December 31, 2013 and 2012, respectively, and are located primarily in India. |
Subsequent_Events
Subsequent Events | 12 Months Ended |
Dec. 31, 2013 | |
Subsequent Events [Abstract] | ' |
Subsequent Events | ' |
14. Subsequent Events | |
In January 2014, the Company completed a secondary offering of 5,280,000 shares of its common stock. In the secondary offering, the Company sold 747,500 shares and received proceeds, net of underwriting discounts and estimated offering expenses, of $24.7 million. | |
Concurrent with a new headquarters lease, the Company received a grant of $1,000 as an incentive to promote local economic growth. The grant is contingent upon making certain capital investments and creating new jobs and expires in 2016, or upon meeting the requirements specified in the grant agreement. | |
The Company has evaluated subsequent events through March 13, 2014, the date the consolidated financial statements were available to be issued. |
Unaudited_Quarterly_Results_of
Unaudited Quarterly Results of Operations | 12 Months Ended | ||||||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | ' | ||||||||||||||||||||||||||||||||
Unaudited Quarterly Results of Operations | ' | ||||||||||||||||||||||||||||||||
15. Unaudited Quarterly Results of Operations | |||||||||||||||||||||||||||||||||
Dec. 31, | Sept. 30, | Jun. 30, | Mar. 31, | Dec. 31, | Sept. 30, | Jun. 30, | Mar. 31, | ||||||||||||||||||||||||||
2013 | 2013 | 2013 | 2013 | 2012 | 2012 | 2012 | 2012 | ||||||||||||||||||||||||||
(in thousands) | |||||||||||||||||||||||||||||||||
Revenue | $ | 30,696 | $ | 29,145 | $ | 26,935 | $ | 24,360 | $ | 23,609 | $ | 21,836 | $ | 19,779 | $ | 18,250 | |||||||||||||||||
Cost of revenue | 10,675 | 8,412 | 7,172 | 6,003 | 5,925 | 5,395 | 4,628 | 4,625 | |||||||||||||||||||||||||
Gross profit | 20,021 | 20,733 | 19,763 | 18,357 | 17,684 | 16,441 | 15,151 | 13,625 | |||||||||||||||||||||||||
Operating expenses: | |||||||||||||||||||||||||||||||||
Sales and marketing | 13,203 | 11,552 | 12,131 | 11,519 | 10,125 | 9,192 | 8,420 | 8,136 | |||||||||||||||||||||||||
Research and development | 3,086 | 2,813 | 2,789 | 2,502 | 2,214 | 2,082 | 1,886 | 1,423 | |||||||||||||||||||||||||
General and administrative | 4,325 | 6,092 | 6,154 | 4,647 | 3,566 | 2,269 | 3,553 | 2,135 | |||||||||||||||||||||||||
Total operating expenses | 20,614 | 20,457 | 21,074 | 18,668 | 15,905 | 13,543 | 13,859 | 11,694 | |||||||||||||||||||||||||
Income (loss) from operations | (593 | ) | 276 | (1,311 | ) | (311 | ) | 1,779 | 2,898 | 1,292 | 1,931 | ||||||||||||||||||||||
Interest income | 338 | 295 | 123 | 259 | 141 | 199 | 203 | 268 | |||||||||||||||||||||||||
Income (loss) from operations before income tax expense | (255 | ) | 571 | (1,188 | ) | (52 | ) | 1,920 | 3,097 | 1,495 | 2,199 | ||||||||||||||||||||||
Provision (benefit) for income taxes | 178 | 1,400 | 1,099 | (362 | ) | 399 | 1,696 | 982 | 1,329 | ||||||||||||||||||||||||
Net income (loss) | $ | (433 | ) | $ | (829 | ) | $ | (2,287 | ) | $ | 310 | $ | 1,521 | $ | 1,401 | $ | 513 | $ | 870 | ||||||||||||||
Net income (loss) per share—basic | $ | (0.01 | ) | $ | (0.03 | ) | $ | (0.15 | ) | $ | 0.01 | $ | 0.05 | $ | 0.04 | $ | 0.02 | $ | 0.03 | ||||||||||||||
Net income (loss) per share—diluted | $ | (0.01 | ) | $ | (0.03 | ) | $ | (0.15 | ) | $ | 0.01 | $ | 0.04 | $ | 0.04 | $ | 0.01 | $ | 0.02 |
Schedule_IIValuation_and_Quali
Schedule II-Valuation and Qualifying Accounts | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||
Valuation And Qualifying Accounts [Abstract] | ' | ||||||||||||||||||||
Schedule II-Valuation and Qualifying Accounts | ' | ||||||||||||||||||||
Schedule II—VALUATION AND QUALIFYING ACCOUNTS | |||||||||||||||||||||
Description | Balance at | Charged to | Charged to | Deductions | Balance at | ||||||||||||||||
Beginning of | Costs and | Other | End of | ||||||||||||||||||
Period | Expenses | Accounts | Period | ||||||||||||||||||
Year ended December 31, 2011: | |||||||||||||||||||||
Allowance for doubtful accounts | $ | 286 | $ | 180 | — | $ | 140 | $ | 326 | ||||||||||||
Year ended December 31, 2012: | |||||||||||||||||||||
Allowance for doubtful accounts | 326 | 344 | — | 165 | 505 | ||||||||||||||||
Year ended December 31, 2013: | |||||||||||||||||||||
Allowance for doubtful accounts | 505 | 392 | — | 166 | 731 |
Summary_of_Significant_Account1
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2013 | |
Accounting Policies [Abstract] | ' |
Basis of Presentation | ' |
(a) Basis of Presentation | |
The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All significant intercompany balances and transactions have been eliminated in consolidation. These consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America. | |
Use of Estimates | ' |
(b) Use of Estimates | |
The preparation of the consolidated financial statements in conformity with U.S. generally accepted accounting principles 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 consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. Significant estimates and assumptions made by management include estimated useful lives of property and equipment, goodwill and intangibles, application of appropriate revenue recognition standards, allowances for doubtful accounts, valuation of deferred tax assets, stock-based compensation, income taxes and legal and other contingencies. The current economic environment has increased the degree of uncertainty inherent in those estimates and assumptions. Actual results could differ from those estimates and assumptions. | |
Cash and Cash Equivalents | ' |
(c) Cash and Cash Equivalents | |
Highly liquid financial instruments purchased with original maturities of 90 days or less at the date of purchase are reported as cash equivalents. Cash equivalents are recorded at cost, which approximates fair value. | |
Included in cash and cash equivalents are funds representing amounts reserved for the face value of registration fees or tickets sold on behalf of customers. While these cash accounts are not restricted as to their use, a liability for amounts due to customers under these arrangements has been recorded in accounts payable in the accompanying consolidated balance sheets. The Company had amounts due to customers of $2,560 and $1,351 of these funds as of December 31, 2013 and 2012, respectively. | |
Restricted Cash | ' |
(d) Restricted Cash | |
Restricted cash includes amounts required to be held for regulatory purposes in India. The Company held $664 and $455 of restricted cash in certificates of deposit as of December 31, 2013 and 2012, respectively. | |
Short-Term Investments | ' |
(e) Short-term Investments | |
The Company’s short-term investments consist of highly liquid financial instruments with original maturities greater than 90 days but less than one year. These short-term investments are comprised of certificates-of-deposit. | |
Accounts Receivable | ' |
(f) Accounts Receivable | |
Accounts receivable are recorded at the amount invoiced to customers and do not bear interest. The Company maintains an allowance for doubtful accounts for estimated losses inherent in its accounts receivable portfolio. In reviewing outstanding receivables, management considers historical write-off experience, the amount of receivables in dispute, and the current receivables aging and current payment patterns. Past due balances over 90 days and over a specified amount are reviewed individually for collectability. Account balances are written off after all means of collection have been exhausted and the potential for recovery is considered remote. | |
Bad debt expense during the years ended December 31, 2013, 2012 and 2011 was $392, $344 and $180, respectively. The allowance for bad debt is consistent with actual historical write-offs; however, higher than expected bad debts may result in the future if write-offs are greater than the Company’s estimates. The Company does not have any off-balance-sheet credit exposure related to its customers. | |
No single customer accounted for more than 10% of the total accounts receivable as of December 31, 2013 and 2012, and no single customer accounted for more than 10% of revenue during the years ended December 31, 2013, 2012 and 2011. | |
Revenue Recognition | ' |
(g) Revenue Recognition | |
The Company derives revenue from two primary sources: platform subscription-based solutions and marketing solutions. These services are generally provided under annual and multi-year contracts that are generally only cancellable for cause and revenue is generally recognized on a straight-line basis over the life of the contract. The Company recognizes revenue when all of the following conditions are met: | |
(i) persuasive evidence exists of an arrangement with the customer reflecting the terms and conditions under which the solutions or services will be provided; | |
(ii) delivery to customers has occurred or services have been rendered; | |
(iii) the fee is fixed or determinable; and | |
(iv) collection of the fees is reasonably assured. | |
The Company considers a signed agreement or other similar documentation to be persuasive evidence of an arrangement. Collectability is assessed based on a number of factors, including transaction history and the creditworthiness of a customer. If it is determined that collection is not reasonably assured, revenue is not recognized until collection becomes reasonably assured, which is generally upon receipt of cash. | |
The Company adopted the provisions of FASB ASU 2009-13, Revenue Recognition (Topic 605): Multiple-Deliverable Revenue Arrangements (EITF Issue No. 08-1, Revenue Arrangements with Multiple Deliverables) with respect to its multiple-element arrangements entered into or significantly modified on or after January 1, 2011. ASU 2009-13 amends ASC 605-25 to eliminate the requirement that all undelivered elements have vendor-specific objective evidence (VSOE) or third-party evidence (TPE) of selling price before an entity can recognize the portion of an overall arrangement fee that is attributable to items that have already been delivered. The adoption of ASU 2009-13 did not have a material impact on the Company’s results of operations. | |
Platform Subscription Revenue | |
Event Management | |
The Company generates the majority of its revenue through software-as-a-service (SaaS) subscriptions to the event management platform, pricing for which is subject to the features and functionality selected. No features or functionality within the subscription-based services have stand-alone value from one another and, therefore, the entire subscription fee is recognized on a straight-line basis over the term of the subscription arrangement. | |
SaaS subscriptions may include functionality that enables customers to manage the registration of participants attending the customer’s event or events. In some cases, the negotiated fee for the subscription is based on a maximum number of event registrations permitted over the subscription term. At any time during the subscription term, customers may elect to purchase blocks of additional registrations, which are referred to as subscription up-sells. The fees associated with the up-sells are added to the original subscription fee, and the revenue is recognized over the remaining subscription period. No portion of the subscription fee is refundable regardless of the actual number of registrations that occur. | |
Mobile Apps | |
Subscription-based solutions also include the sale of mobile event apps. The revenue for mobile event apps solutions is generally recognized on a straight-line basis over the life of the contract. A customer may use a singular mobile event app for any number of events. At any time during the subscription term, customers may elect to purchase additional mobile event apps, which are referred to as mobile up-sells. The fees associated with the up-sells are added to the original subscription fee, and the revenue is recognized over the remaining subscription period. No portion of the subscription fee is refundable. | |
Ticketing | |
Ticketing revenue is generated primarily through convenience and order processing fees charged to the end user purchasing the ticket at the time a ticket for an event is sold and is recorded net of the face value of the ticket. Revenue for these ticket fees collected in advance of the event is recorded as deferred revenue until the event occurs. If an event is cancelled, the customer receives a full refund of the ticket price and fees paid. | |
Other subscription-based solutions include the sale of survey solutions, which are contracted though annual or multiyear arrangements. | |
Subscription agreements do not provide customers with the right to take possession of the underlying software at any time. | |
Marketing Solutions Revenue | |
Marketing solutions revenue is generated through the delivery of various forms of advertising sold through annual or multi-year advertising contracts. Such solutions include prominent display of a customer’s venue within the Cvent Supplier Network, the Cvent Destination Guide or in various electronic newsletters. Pricing for the advertisements is based on the targeted geography, number of advertisements and prominence of the ad placement. | |
The Company enters into arrangements with multiple deliverables that generally include various marketing solutions that may be sold individually or bundled together and delivered over various periods of time. In such situations, the Company applies the provisions of Financial Accounting Standards Board, or FASB, Accounting Standards Codification, or ASC, No. 605-25, Revenue Recognition – Multiple Element Arrangements to account for the various elements within the marketing solution agreements delivered over the platform. Under such guidance, in order to treat deliverables in a multiple-deliverable arrangement as separate units of accounting, the deliverables must have standalone value upon delivery. If the deliverables have standalone value upon delivery, the Company accounts for each deliverable separately and revenue is recognized ratably over the contractual period that the related advertising deliverable is provided. Annual marketing solutions on the Cvent Supplier Network are often sold separately, and, as such, all have standalone value. | |
Certain one-time marketing solutions, which can run for a month, several months, or a year, are primarily sold in a package. In determining whether the marketing solutions sold in packages have standalone value, the Company considers the availability of the services from other vendors, the nature of the solutions, and the contractual dependence of the solutions to the rest of the package. Based on these considerations, the Company has determined the estimated selling price for each marketing solution sold in a package. | |
Revenue arrangements with multiple deliverables are divided into separate units of accounting and the arrangement consideration is allocated to all deliverables based on the relative selling price method. In such circumstances, the Company uses the selling price hierarchy of: (i) vendor specific objective evidence of fair value, or VSOE, if available, (ii) third-party evidence of selling price, or TPE, and (iii) best estimate of selling price. VSOE is limited to the price charged when the same element is sold separately by the Company. Due to the unique nature of some multiple deliverable revenue arrangements, the Company may not be able to establish selling prices based on historical stand-alone sales using VSOE or TPE; therefore the Company may use its best estimate to establish selling prices for these arrangements. The Company establishes the best estimates within a range of selling prices considering multiple factors including, but not limited to, factors such as size of transaction, customer demand and price lists. | |
Business Combinations | ' |
(h) Business Combinations | |
The Company is required to allocate the purchase price of acquired companies to the identifiable tangible and intangible assets acquired and liabilities assumed at the acquisition date based upon their estimated fair values. | |
Goodwill as of the acquisition date represents the excess of the purchase consideration of an acquired business over the fair value of the underlying net tangible and intangible assets acquired and liabilities assumed. This allocation and valuation require management to make significant estimates and assumptions, especially with respect to long-lived and intangible assets. | |
Critical estimates in valuing intangible assets include but are not limited to estimates about: future expected cash flows from customer contracts, customer lists, distribution agreements, proprietary technology and non-competition agreements; the acquired company’s brand awareness and market position, assumptions about the period of time the brand will continue to be used in our product portfolio; as well as expected costs to develop the in-process research and development into commercially viable products and estimated cash flows from the projects when completed, and discount rates. The Company’s estimates of fair value are based upon assumptions the Company believe to be reasonable, but which are inherently uncertain and unpredictable. Assumptions may be incomplete or inaccurate, and unanticipated events and circumstances may occur. | |
In addition, uncertain tax positions and tax-related valuation allowances assumed in connection with a business combination are initially estimated as of the acquisition date. The Company continues to evaluate these items quarterly and record any adjustments to the preliminary estimates to goodwill provided that the Company is within the measurement period. Subsequent to the measurement period, changes to these uncertain tax positions and tax related valuation allowances will affect the Company’s provision for income taxes in the consolidated statements of operations. | |
Other estimates associated with the accounting for these acquisitions may change as additional information becomes available regarding the assets acquired and liabilities assumed. | |
Deferred Revenue | ' |
(i) Deferred Revenue | |
Deferred revenue consists of contractual billings or payments received in advance of revenue recognition from platform subscription services or marketing solutions that are subsequently recognized when the revenue recognition criteria are met. The Company generally invoices customers in annual or quarterly installments. | |
Cost of Revenue | ' |
(j) Cost of Revenue | |
The Company’s cost of revenue consists of employee-related expenses, including salaries, benefits and stock-based compensation related to providing support and hosting applications, costs of data center capacity, software license fees and amortization expense associated with capitalized internal use software. In addition, the Company allocates a portion of overhead, such as rent, information technology costs and depreciation and amortization, to cost of revenue based on headcount. | |
Property and Equipment | ' |
(k) Property and Equipment | |
Property and equipment is stated at cost less accumulated depreciation and amortization. Improvements and replacements of property and equipment are capitalized. Maintenance and repairs that do not improve or extend the lives of property and equipment are charged to expense as incurred. When assets are sold or retired, their cost and related accumulated depreciation are removed from the accounts and any gain or loss is reported in operating income (loss) in the accompanying consolidated statements of operations. Depreciation is computed using the straight line method over the estimated useful lives of the related assets. The estimated useful life of computer equipment and software is three years while the estimated useful lives of furniture and equipment is seven years. Leasehold improvements are amortized on a straight-line basis over the shorter of the lease term or estimated useful life of the asset. | |
Impairment of Long-Lived Assets | ' |
(l) Impairment of Long-Lived Assets | |
The Company evaluates the recoverability of its long-lived assets in accordance with Impairment or Disposal of Long-Lived Assets Subsections of FASB ASC Subtopic 360-10, Property, Plant, and Equipment—Overall. Long-lived assets are reviewed for possible impairment whenever events or circumstances indicate that the carrying amount of such assets may not be recoverable. If such review indicates that the carrying amount of long-lived assets is not recoverable from future undiscounted cash flows, the carrying amount of such assets is reduced to the lower of the carrying value or fair value. | |
In addition to the recoverability assessment, the Company routinely reviews the remaining estimated lives of its long-lived assets. Any reduction in the useful life assumption will result in increased depreciation and amortization expense in the period when such determinations are made, as well as in subsequent periods. There was no impairment of long-lived assets during the years ended December 31, 2013, 2012 and 2011. | |
Goodwill | ' |
(m) Goodwill | |
As a result of the Company’s acquisitions in 2012, the Company recorded goodwill. Goodwill represents the excess of: (i) the aggregate of the fair value of consideration transferred in a business combination, over (ii) the fair value of assets acquired, net of liabilities assumed. Goodwill is not amortized, but is subject to annual impairment tests. The goodwill impairment test is a two-step test. Under the first step, the fair value of the reporting unit is compared with its carrying value, including goodwill. If the fair value of the reporting unit is less than its carrying value, an indication of goodwill impairment exists for the reporting unit and the entity must perform step two of the impairment test (measurement). Under step two, an impairment loss is recognized for any excess of the carrying amount of the reporting unit’s goodwill over the implied fair value of that goodwill. The implied fair value of goodwill is determined by allocating the fair value of the reporting unit in a manner similar to a purchase price allocation and the residual fair value after this allocation is the implied fair value of the reporting unit goodwill. Fair value of the reporting unit is estimated using a discounted cash flow analysis. If the fair value of the reporting unit exceeds its carrying value, step two is not performed. | |
In September 2011, the FASB issued ASU 2011-08, Intangibles—Goodwill and Other (Topic 350): Testing Goodwill for Impairment. This ASU permits an entity to make a qualitative assessment of whether it is more likely than not that a reporting unit’s fair value is less than its carrying amount before applying the two-step goodwill impairment test. If an entity concludes it is not more likely than not that the fair value of a reporting unit is less than its carrying amount, it need not perform the two-step impairment test. The ASU is effective for annual and interim goodwill impairment tests performed for fiscal years beginning after December 15, 2011. Early adoption is permitted. The Company adopted the provisions of ASU 2011-08 as of January 1, 2012. | |
The Company performs its annual impairment review of goodwill on November 30 and when a triggering event occurs between annual impairment tests. Based on the Company’s qualitative assessment, there was no indication of impairment as of December 31, 2013. | |
Capitalized Software Development Costs | ' |
(n) Capitalized Software Development Costs | |
Costs to develop internal use software are capitalized and recorded as capitalized software in accordance with the provisions of FASB ASC Subtopic 350-40, Intangibles-Goodwill and Other Subtopic 40 Internal-Use Software on the balance sheet. These costs are amortized on a project-by-project basis using the straight-line method over the estimated economic life of the application, which is generally three years, beginning when the asset is substantially ready for use. Costs incurred during the preliminary development stage, as well as maintenance and training costs are expensed as incurred. | |
Research and Development | ' |
(o) Research and Development | |
Research and development expenses consist primarily of personnel and related expenses for the Company’s research and development staff, including salaries, benefits, bonuses and stock-based compensation and the cost of certain third-party contractors. Research and development costs, other than software development expenses qualifying for capitalization, are expensed as incurred. | |
Sales Commissions | ' |
(p) Sales Commissions | |
Sales commissions are the costs directly associated with obtaining platform subscription and marketing solutions contracts with customers and consist of commissions paid to the Company’s direct sales force and other marketing partners. Sales commissions are expensed when incurred as a component of sales and marketing expense and are generally paid one month in arrears. Commissions incurred, but not paid, are included in accrued expenses in the accompanying consolidated balance sheets. Sales commissions paid are subject to a claw back provision in the event a customer contract is cancelled in proportion to the remaining contract period at the date of cancellation and are recorded net of estimated claw backs in sales and marketing expense. Amounts charged back have not been material to the Company’s results of operations. | |
Deferred Tax Assets and Liabilities | ' |
(q) Deferred Tax Assets and Liabilities | |
Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. To the extent that it is not considered to be more likely than not that a deferred tax asset will be realized, a valuation allowance is established. The Company applies the provisions of FASB interpretation No. 48, Accounting for Uncertainty in Income Taxes (FIN 48) (included in ASC Subtopic 740-10, Income Taxes—Overall), which provides guidance related to the accounting for uncertain tax positions. In accordance with FIN 48, the Company only recognizes the tax benefit from an uncertain tax position if it is more likely than not that the tax position will be sustained on examination. | |
Stock-Based Compensation | ' |
(r) Stock-Based Compensation | |
The Company accounts for its employee stock-based compensation awards in accordance with FASB ASC Topic 718, Compensation—Stock Compensation. ASC Topic 718 requires that all employee stock-based compensation is recognized as a cost in the financial statements and that for equity-classified awards such cost is measured at the grant date fair value of the award. The Company estimates grant date fair value using the Black-Scholes option-pricing model. | |
Determining the fair value of stock-based compensation awards under this model requires judgment, including estimating the value per share of the Company’s common stock prior to the Company’s initial public offering in August 2013 (see note 9), estimated volatility, risk free rate, expected term and estimated dividend yield. The assumptions used in calculating the fair value of stock-based compensation awards represent the Company’s best estimates, based on management judgment. The estimate of the value per share of the Company’s common stock used in the option-pricing model is based on the contemporaneous valuations performed with the assistance of an unrelated third-party valuation specialist and management’s analysis of market transactions in proximity to the valuation dates. The estimated dividend yield is zero since the Company has not issued dividends to date and does not anticipate issuing dividends. The risk-free interest rate is based on the implied yield currently available on U.S. Treasury zero coupon issues with an equivalent remaining term. Due to its limited trading history, the Company estimates volatility for option grants by evaluating the average historical volatility of a peer group of similar public companies. The expected term of the Company’s option plans represent the period that its stock-based awards are expected to be outstanding. For purposes of determining the expected term, the Company applies the simplified approach, in which the expected term of an award is presumed to be the mid-point between the vesting date and the expiration date of the award. Awards generally vest over a service period of four years, with a maximum contractual term of ten years. | |
Pursuant FASB ASC Subtopic 718-10-35, Stock Compensation, the initial determination of compensation cost is based on the number of stock options granted amortized over the vesting period. The value of the awards granted is discounted by the forfeiture rate equal to the value expected to vest. The forfeiture rate was derived by taking into consideration historical employee turnover rates as well as expectations for the future. Expense is recognized using the straight-line attribution method. | |
Comprehensive Income (Loss) | ' |
(s) Comprehensive Income (Loss) | |
There was no difference between net income (loss) presented in the consolidated statements of operations and comprehensive income (loss) for each of the years ended December 31, 2013, 2012 and 2011. | |
Foreign Currency Transactions | ' |
(t) Foreign Currency Transactions | |
The Company’s foreign subsidiary in India designates the U.S. dollar as the functional currency. For the subsidiary, assets and liabilities denominated in foreign currency are remeasured into U.S. dollars at current exchange rates for monetary assets and liabilities and historical exchange rates for nonmonetary assets and liabilities. Foreign currency gains and losses associated with remeasurement are included in general and administrative expense in the consolidated statements of operations. | |
Foreign currency losses associated with transactions and remeasurement were $1,796, $286 and $1,619 for the years ended December 31, 2013, 2012 and 2011, respectively. | |
Non-Monetary Transactions | ' |
(u) Non-Monetary Transactions | |
The Company occasionally participates in non-monetary transactions with its customers in exchange for marketing and other services. The cost of the services received approximate the value of the services provided and as a result no gain or loss is recognized on the transaction. Non-monetary transactions totaled $592 and $362 for the years ended December 31, 2013 and 2012, respectively. The Company did not have any non-monetary transactions during the year ended December 31, 2011. | |
Fair Value Measurements | ' |
(v) Fair Value Measurements | |
Fair value represents the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs. The fair value hierarchy is based on the following three levels of inputs, of which the first two are considered observable and the last one is considered unobservable: | |
Level 1 Inputs: Unadjusted quoted prices in active markets for identical assets or liabilities accessible to the reporting entity at the measurement date. | |
Level 2 Inputs: Other than quoted prices included in Level 1 inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the asset or liability. | |
Level 3 Inputs: Unobservable inputs that require the Company to use present value and other valuation techniques in the determination of fair value. | |
The Company’s financial instruments include cash and cash equivalents, restricted cash, short-term investments, accounts receivable, accounts payable and accrued liabilities. The carrying value of these financial instruments on the consolidated balance sheets approximate their fair value based on their short-term nature. | |
The Company is also subject to certain contingent consideration arrangements associated with recent acquisitions that are based on achieving specified operating targets and the passage of time. Assumptions including revenue forecasts, future market opportunities, complexity and size of addressable markets and the scalability of the product are developed to determine the fair value of such contingent consideration. In addition, the probability of achieving the specified targets is considered in determining the fair value of the contingent consideration included in the purchase price. Cvent will continue to remeasure contingent consideration to fair value at each reporting date, and will recognize any changes to the fair value in earnings for any changes resulting from events after the acquisition date, such as meeting a sales target. |
Net_Income_Loss_Per_Share_Tabl
Net Income (Loss) Per Share (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Earnings Per Share [Abstract] | ' | ||||||||||||
Computation of Basic and Diluted Net Income (Loss) Per Share | ' | ||||||||||||
The computation of basic and diluted net income (loss) per share is as follows: | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Net income (loss) | $ | (3,239 | ) | $ | 4,305 | $ | (184 | ) | |||||
Weighted average number of shares outstanding: | |||||||||||||
Weighted average common shares outstanding | 25,289,788 | 15,748,551 | 16,757,527 | ||||||||||
Effect of convertible preferred stock | — | 17,418,807 | — | ||||||||||
Weighted average shares outstanding for basic earnings per share | 25,289,788 | 33,167,358 | 16,757,527 | ||||||||||
Effect of share-based equity award plan | — | 1,555,447 | — | ||||||||||
Effect of warrants | — | 67,832 | — | ||||||||||
Weighted average shares outstanding for diluted earnings per share | 25,289,788 | 34,790,637 | 16,757,527 | ||||||||||
Net income (loss) per share: | |||||||||||||
Basic | $ | (0.13 | ) | $ | 0.13 | $ | (0.01 | ) | |||||
Diluted | $ | (0.13 | ) | $ | 0.12 | $ | (0.01 | ) |
Acquisitions_Tables
Acquisitions (Tables) | 12 Months Ended | ||||
Dec. 31, 2013 | |||||
CrowdTorch (Seedlabs) [Member] | ' | ||||
Allocation of Purchase Price for Acquired Net Assets Based on their Estimated Fair Values | ' | ||||
The allocation of the purchase price was based upon estimates of fair value of the corresponding assets and liabilities as follows: | |||||
Tangible assets | $ | 269 | |||
Software technology | 423 | ||||
Customer relationships | 70 | ||||
Goodwill | 1,909 | ||||
Current liabilities | (273 | ) | |||
Total consideration | $ | 2,398 | |||
CrowdCompass [Member] | ' | ||||
Allocation of Purchase Price for Acquired Net Assets Based on their Estimated Fair Values | ' | ||||
The allocation of the purchase price was based upon estimates of fair value of the corresponding assets and liabilities as follows: | |||||
Tangible assets | $ | 296 | |||
Software technology | 1,400 | ||||
Customer relationships | 550 | ||||
Trademarks / trade names | 180 | ||||
Deferred tax asset | 329 | ||||
Goodwill | 4,752 | ||||
Current liabilities | (688 | ) | |||
Deferred tax liability | (842 | ) | |||
Total consideration | $ | 5,977 | |||
TicketMob [Member] | ' | ||||
Allocation of Purchase Price for Acquired Net Assets Based on their Estimated Fair Values | ' | ||||
The allocation of the purchase price was based upon estimates of fair value of the corresponding assets and liabilities as follows: | |||||
Tangible assets | $ | 1,495 | |||
Software technology | 437 | ||||
Customer relationships | 1,096 | ||||
Trademarks / trade names | 82 | ||||
Goodwill | 6,042 | ||||
Current liabilities | (3,234 | ) | |||
Total consideration | $ | 5,918 | |||
Property_and_Equipment_and_Cap1
Property and Equipment and Capitalized Software Development Costs (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Property Plant And Equipment [Abstract] | ' | ||||||||
Summary of Property and Equipment and Capitalized Software Development Costs | ' | ||||||||
Property and equipment and capitalized software development costs are summarized as follows: | |||||||||
December 31, | |||||||||
2013 | 2012 | ||||||||
Computer equipment and purchased software | $ | 9,278 | $ | 8,226 | |||||
Furniture and equipment | 3,864 | 2,773 | |||||||
Leasehold improvements | 6,293 | 4,561 | |||||||
Work in Progress | 99 | — | |||||||
Automobile | 67 | 43 | |||||||
19,601 | 15,603 | ||||||||
Less accumulated depreciation | (11,695 | ) | (8,847 | ) | |||||
Total property and equipment, net | $ | 7,906 | $ | 6,756 | |||||
Capitalized software development costs | $ | 18,134 | $ | 10,990 | |||||
Less accumulated amortization | (8,870 | ) | (5,562 | ) | |||||
Total capitalized software development costs | $ | 9,264 | $ | 5,428 | |||||
Goodwill_and_Intangible_Assets1
Goodwill and Intangible Assets (Tables) | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||
Goodwill And Intangible Assets Disclosure [Abstract] | ' | ||||||||||||||||||||
Change in Carrying Amount of Goodwill | ' | ||||||||||||||||||||
The following table presents the change in carrying amount of goodwill due to the finalization of purchase accounting: | |||||||||||||||||||||
Goodwill as of December 31, 2012 | $ | 12,505 | |||||||||||||||||||
Adjustment to Crowd Compass goodwill (note 4) | (329 | ) | |||||||||||||||||||
Adjustment to TicketMob goodwill (note 4) | 527 | ||||||||||||||||||||
Goodwill as of December 31, 2013 | $ | 12,703 | |||||||||||||||||||
Acquisition of Intangible Assets | ' | ||||||||||||||||||||
The following table summarizes intangible assets as of December 31, 2013 and 2012: | |||||||||||||||||||||
Net carrying | Additions | Amortization | Net carrying | Weighted | |||||||||||||||||
amount | amount | average | |||||||||||||||||||
December 31, | December 31, | life as of | |||||||||||||||||||
2012 | 2013 | December 31, | |||||||||||||||||||
2013 | |||||||||||||||||||||
Customer relationships | 1,650 | $ | — | $ | 292 | $ | 1,358 | 6 years | |||||||||||||
Software technology | 2,027 | — | 452 | 1,575 | 5 years | ||||||||||||||||
Trademarks/Tradenames | 242 | — | 52 | 190 | 5 years | ||||||||||||||||
Total intangible assets | 3,919 | $ | — | $ | 796 | $ | 3,123 | ||||||||||||||
Amortization Expense of Intangible Assets | ' | ||||||||||||||||||||
The intangible balance remaining as of December 31, 2013 will be amortized in future periods as follows: | |||||||||||||||||||||
2014 | $ | 796 | |||||||||||||||||||
2015 | 796 | ||||||||||||||||||||
2016 | 780 | ||||||||||||||||||||
2017 | 526 | ||||||||||||||||||||
2018 | 225 | ||||||||||||||||||||
Total | $ | 3,123 | |||||||||||||||||||
Income_Taxes_Tables
Income Taxes (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||||||
Income Taxes on Income Before Taxes | ' | ||||||||||||
The Company’s income before taxes was taxed as indicated in the following jurisdictions: | |||||||||||||
Years ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Pretax income (loss): | |||||||||||||
U.S. | $ | (1,119 | ) | $ | 6,638 | $ | 2,818 | ||||||
Foreign | 195 | 2,073 | (253 | ) | |||||||||
Total | $ | (924 | ) | $ | 8,711 | $ | 2,565 | ||||||
Components of Provision for Income Taxes Attributable to Continuing Operations | ' | ||||||||||||
The components of the provision for income taxes attributable to continuing operations are as follows: | |||||||||||||
Year ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Current income tax expense: | |||||||||||||
U.S. federal | $ | 367 | $ | 3,132 | $ | 1,786 | |||||||
U.S. state and local | 272 | 900 | 424 | ||||||||||
Foreign jurisdiction | 888 | 808 | 714 | ||||||||||
Total current tax expense | $ | 1,527 | $ | 4,840 | $ | 2,924 | |||||||
Deferred income tax expense (benefit): | |||||||||||||
U.S. federal | $ | 1,081 | $ | (304 | ) | $ | (102 | ) | |||||
U.S. state and local | 196 | (81 | ) | (18 | ) | ||||||||
Foreign jurisdiction | (489 | ) | (49 | ) | (55 | ) | |||||||
Total deferred tax expense (benefit) | 788 | (434 | ) | (175 | ) | ||||||||
Total income tax provision | $ | 2,315 | $ | 4,406 | $ | 2,749 | |||||||
Reconciliation between Statutory Tax Rate and Effective Tax Rate | ' | ||||||||||||
A reconciliation between the Company’s statutory tax rate and the effective tax rate is as follows: | |||||||||||||
Year ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
U.S. federal statutory rate | 34 | % | 35 | % | 34 | % | |||||||
Increase (reduction) resulting from: | |||||||||||||
U.S. state income taxes, net of federal benefits | (26.3 | ) | 5.9 | 4.7 | |||||||||
Stock compensation adjustment | (144.8 | ) | 16.1 | 43 | |||||||||
Non-deductible/non-taxable items | (22.8 | ) | 2.3 | 30.9 | |||||||||
Uncertain tax positions | (66.0 | ) | 1.2 | 11.2 | |||||||||
Acquisition related expenses | (56.7 | ) | — | — | |||||||||
Benefit of credits | 97.3 | (9.1 | ) | (5.3 | ) | ||||||||
Provision to return differences | (34.3 | ) | — | (15.9 | ) | ||||||||
Foreign tax rate differential | (11.2 | ) | (0.6 | ) | 5.4 | ||||||||
Other | 8.5 | (0.5 | ) | (0.5 | ) | ||||||||
Change in Valuation Allowance | (23.4 | ) | — | — | |||||||||
Foreign tax expense | (4.9 | ) | — | — | |||||||||
(250.6 | %) | 50.3 | % | 107.5 | % | ||||||||
Significant Components of Deferred Tax Assets and Liabilities | ' | ||||||||||||
Significant components of the Company’s deferred tax assets and liabilities are as follows: | |||||||||||||
December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Deferred tax assets: | |||||||||||||
Allowance for doubtful accounts | $ | 279 | $ | 199 | $ | 125 | |||||||
Reserves | 1,110 | 823 | 910 | ||||||||||
Deferred rent | 427 | 488 | 374 | ||||||||||
Accrued expenses and other | 1,583 | 674 | 595 | ||||||||||
Foreign tax credit carryforward | 329 | 185 | 136 | ||||||||||
Stock compensation | 88 | 790 | 317 | ||||||||||
Net operating loss carryforwards | 945 | 970 | 1,029 | ||||||||||
Total deferred tax assets | $ | 4,761 | $ | 4,129 | $ | 3,486 | |||||||
Deferred tax liabilities: | |||||||||||||
Basis difference in fixed assets | $ | (408 | ) | $ | (914 | ) | $ | (967 | ) | ||||
Capitalized software development costs | (3,715 | ) | (2,147 | ) | (1,631 | ) | |||||||
Intangibles—acquisitions | (450 | ) | (614 | ) | — | ||||||||
Total deferred tax liabilities | (4,573 | ) | (3,675 | ) | (2,598 | ) | |||||||
Valuation Allowance | (194 | ) | — | — | |||||||||
Net deferred tax asset (liability) | $ | (6 | ) | $ | 454 | $ | 888 | ||||||
Reconciliation of Unrecognized Tax Benefits | ' | ||||||||||||
The following table presents a reconciliation of the beginning and ending amount of unrecognized tax benefits: | |||||||||||||
December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Unrecognized tax benefits, opening balance | $ | 614 | $ | 508 | $ | 36 | |||||||
Gross increases—tax positions in prior period | 83 | — | 220 | ||||||||||
Gross decreases—tax positions in prior period | (72 | ) | 1 | — | |||||||||
Gross increases—current-period tax positions | 543 | 105 | 252 | ||||||||||
Unrecognized tax benefits, ending balance | $ | 1,168 | $ | 614 | $ | 508 | |||||||
StockBased_Compensation_Tables
Stock-Based Compensation (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Components of Stock-Based Compensation Expense Recognized in Earnings | ' | ||||||||||||||||
The following table details the components of stock-based compensation expense recognized in earnings in each as follows: | |||||||||||||||||
Years ended December 31, | |||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||
Stock Options | $ | 2,552 | $ | 2,035 | $ | 1,441 | |||||||||||
Restricted stock units | 58 | — | — | ||||||||||||||
Common stock warrants | 299 | 206 | 859 | ||||||||||||||
Common stock call option | 1,824 | 2,965 | 1,651 | ||||||||||||||
$ | 4,733 | $ | 5,206 | $ | 3,951 | ||||||||||||
Summary of Assumptions Used in Valuation of Stock-Based Awards | ' | ||||||||||||||||
The following is a summary of the assumptions used in the valuation of stock-based awards under the Black-Scholes model: | |||||||||||||||||
Year ended December 31, | |||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||
Dividend yield | 0 | % | 0 | % | 0 | % | |||||||||||
Volatility | 53.94 | % | 54.28 | % | 54.01 | % | |||||||||||
Expected term (years) | 6.43 | 6.49 | 6.38 | ||||||||||||||
Risk-free interest rate | 1.38 | % | 0.97 | % | 2.47 | % | |||||||||||
Stock Option Activity | ' | ||||||||||||||||
Stock option activity during the periods indicated is as follows: | |||||||||||||||||
Number of | Weighted | Weighted | Aggregate | ||||||||||||||
shares | average | average | intrinsic | ||||||||||||||
subject to | exercise | remaining | value | ||||||||||||||
option | price | contractual | |||||||||||||||
term | |||||||||||||||||
(years) | |||||||||||||||||
Balance at December 31, 2011 | 3,117,367 | $ | 1.76 | 8.79 | $ | 19,452 | |||||||||||
Granted | 396,625 | 6.76 | |||||||||||||||
Exercised | (118,842 | ) | 0.56 | ||||||||||||||
Forfeited | (105,111 | ) | 2.56 | ||||||||||||||
Balance at December 31, 2012 | 3,290,039 | 2.4 | 8.08 | 23,030 | |||||||||||||
Granted | 1,114,801 | 13.52 | |||||||||||||||
Exercised | (635,072 | ) | 1.47 | ||||||||||||||
Forfeited | (129,609 | ) | 7.5 | ||||||||||||||
Expired | (8,887 | ) | 1.18 | ||||||||||||||
Balance at December 31, 2013 | 3,631,272 | 5.78 | 7.85 | 111,150 | |||||||||||||
Exercisable at December 31, 2013 | 879,911 | $ | 1.6 | 6.72 | $ | 30,612 | |||||||||||
Summary of RSU Activity | ' | ||||||||||||||||
RSU activity during the periods indicated is as follows: | |||||||||||||||||
Number | Weighted | Weighted | Aggregate | ||||||||||||||
of shares | average | average | intrinsic | ||||||||||||||
subject to | share | remaining | value | ||||||||||||||
restriction | value | contractual | |||||||||||||||
term | |||||||||||||||||
(years) | |||||||||||||||||
Balance at January 1, 2013 | — | $ | — | — | $ | — | |||||||||||
Granted | 7,555 | 34.27 | |||||||||||||||
Exercised | — | — | |||||||||||||||
Forfeited | — | — | |||||||||||||||
Balance at December 31, 2013 | 7,555 | 34.27 | 1.18 | 275 | |||||||||||||
Summary of Common Stock Warrant Activity | ' | ||||||||||||||||
Common stock warrant activity during the periods indicated is as follows: | |||||||||||||||||
Number | Weighted | Weighted | Aggregate | ||||||||||||||
of shares | average | average | intrinsic | ||||||||||||||
subject to | exercise | remaining | value | ||||||||||||||
warrants | price | contractual | |||||||||||||||
term | |||||||||||||||||
(years) | |||||||||||||||||
Balance at January 1, 2011 | 22,559 | $ | 0.76 | 8.83 | $ | 23 | |||||||||||
Granted | 328,700 | 1.8 | |||||||||||||||
Exercised | (211,530 | ) | 1.72 | ||||||||||||||
Balance at December 31, 2011 | 139,729 | $ | 1.8 | 6.02 | $ | 866 | |||||||||||
Balance at December 31, 2012 | 139,729 | $ | 1.8 | 5.02 | $ | 1,006 | |||||||||||
Exercised | (14,729 | ) | 1.8 | ||||||||||||||
Repurchased | (125,000 | ) | 1.8 | ||||||||||||||
Balance at December 31, 2013 | — | — | — | — | |||||||||||||
Common Stock Warrants [Member] | ' | ||||||||||||||||
Assumptions Used in Black-Scholes Pricing Model | ' | ||||||||||||||||
The following is a summary of the weighted average assumptions used in the valuation of warrants under the Black-Scholes model at each balance sheet date: | |||||||||||||||||
Year ended | |||||||||||||||||
December 31, | |||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||
Dividend yield | 0 | % | 0 | % | 0 | % | |||||||||||
Volatility | 55 | % | 55 | % | 55.28 | % | |||||||||||
Expected term (years) | 4.63 | 5 | 6 | ||||||||||||||
Risk-free interest rate | 1.09 | % | 0.72 | % | 1.09 | % | |||||||||||
Common Stock Call Option [Member] | ' | ||||||||||||||||
Assumptions Used in Black-Scholes Pricing Model | ' | ||||||||||||||||
Key assumptions used in the Black-Scholes pricing model were: | |||||||||||||||||
Dividend yield | 0 | % | |||||||||||||||
Volatility | 40 | % | |||||||||||||||
Expected term (years) | 2 | ||||||||||||||||
Risk-free interest rate | 0.37 | % |
Commitments_and_Contingencies_
Commitments and Contingencies (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Commitments And Contingencies Disclosure [Abstract] | ' | ||||||||||||||||
Future Minimum Lease Payments under Non-Cancelable Operating Leases | ' | ||||||||||||||||
Future minimum lease payments under non-cancelable operating leases as of December 31, 2013 are as follows: | |||||||||||||||||
2014 | $ | 2,907 | |||||||||||||||
2015 | 2,500 | ||||||||||||||||
2016 | 4,210 | ||||||||||||||||
2017 | 4,140 | ||||||||||||||||
2018 | 3,732 | ||||||||||||||||
2019 | 3,227 | ||||||||||||||||
Thereafter | 19,545 | ||||||||||||||||
Total minimum lease payments | $ | 40,261 | |||||||||||||||
Changes in Recorded Amount of Accrued Compensation and Consideration from Acquisitions | ' | ||||||||||||||||
A summary of the changes in the recorded amount of accrued compensation and consideration from acquisitions from December 31, 2012 to December 31, 2013 is as follows (dollars in thousands): | |||||||||||||||||
Acquisition: | Liability as of | Payments | Additional | Liability as of | |||||||||||||
December 31, | Accruals | December 31, | |||||||||||||||
2012 | 2013 | ||||||||||||||||
CrowdTorch (Seedlabs) | $ | 280 | (280 | ) | 280 | $ | 280 | ||||||||||
CrowdCompass | 736 | (1,388 | ) | 1,714 | 1,062 | ||||||||||||
TicketMob | — | — | 445 | 445 | |||||||||||||
$ | 1,016 | (1,668 | ) | 2,439 | $ | 1,787 | |||||||||||
Unaudited_Quarterly_Results_of1
Unaudited Quarterly Results of Operations (Tables) | 12 Months Ended | ||||||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | ' | ||||||||||||||||||||||||||||||||
Summary of Unaudited Quarterly Results of Operations | ' | ||||||||||||||||||||||||||||||||
Unaudited Quarterly Results of Operations | |||||||||||||||||||||||||||||||||
Dec. 31, | Sept. 30, | Jun. 30, | Mar. 31, | Dec. 31, | Sept. 30, | Jun. 30, | Mar. 31, | ||||||||||||||||||||||||||
2013 | 2013 | 2013 | 2013 | 2012 | 2012 | 2012 | 2012 | ||||||||||||||||||||||||||
(in thousands) | |||||||||||||||||||||||||||||||||
Revenue | $ | 30,696 | $ | 29,145 | $ | 26,935 | $ | 24,360 | $ | 23,609 | $ | 21,836 | $ | 19,779 | $ | 18,250 | |||||||||||||||||
Cost of revenue | 10,675 | 8,412 | 7,172 | 6,003 | 5,925 | 5,395 | 4,628 | 4,625 | |||||||||||||||||||||||||
Gross profit | 20,021 | 20,733 | 19,763 | 18,357 | 17,684 | 16,441 | 15,151 | 13,625 | |||||||||||||||||||||||||
Operating expenses: | |||||||||||||||||||||||||||||||||
Sales and marketing | 13,203 | 11,552 | 12,131 | 11,519 | 10,125 | 9,192 | 8,420 | 8,136 | |||||||||||||||||||||||||
Research and development | 3,086 | 2,813 | 2,789 | 2,502 | 2,214 | 2,082 | 1,886 | 1,423 | |||||||||||||||||||||||||
General and administrative | 4,325 | 6,092 | 6,154 | 4,647 | 3,566 | 2,269 | 3,553 | 2,135 | |||||||||||||||||||||||||
Total operating expenses | 20,614 | 20,457 | 21,074 | 18,668 | 15,905 | 13,543 | 13,859 | 11,694 | |||||||||||||||||||||||||
Income (loss) from operations | (593 | ) | 276 | (1,311 | ) | (311 | ) | 1,779 | 2,898 | 1,292 | 1,931 | ||||||||||||||||||||||
Interest income | 338 | 295 | 123 | 259 | 141 | 199 | 203 | 268 | |||||||||||||||||||||||||
Income (loss) from operations before income tax expense | (255 | ) | 571 | (1,188 | ) | (52 | ) | 1,920 | 3,097 | 1,495 | 2,199 | ||||||||||||||||||||||
Provision (benefit) for income taxes | 178 | 1,400 | 1,099 | (362 | ) | 399 | 1,696 | 982 | 1,329 | ||||||||||||||||||||||||
Net income (loss) | $ | (433 | ) | $ | (829 | ) | $ | (2,287 | ) | $ | 310 | $ | 1,521 | $ | 1,401 | $ | 513 | $ | 870 | ||||||||||||||
Net income (loss) per share—basic | $ | (0.01 | ) | $ | (0.03 | ) | $ | (0.15 | ) | $ | 0.01 | $ | 0.05 | $ | 0.04 | $ | 0.02 | $ | 0.03 | ||||||||||||||
Net income (loss) per share—diluted | $ | (0.01 | ) | $ | (0.03 | ) | $ | (0.15 | ) | $ | 0.01 | $ | 0.04 | $ | 0.04 | $ | 0.01 | $ | 0.02 |
Summary_of_Significant_Account2
Summary of Significant Accounting Policies - Additional Information (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Customer | Customer | Customer | |
Source | |||
Significant Of Accounting Policies [Line Items] | ' | ' | ' |
Cash and cash equivalent maturity period | '90 days | ' | ' |
Amount due to customers under credit arrangements | $2,560 | $1,351 | ' |
Restricted cash | 664 | 455 | ' |
Minimum maturity for short-term investment | '90 days | ' | ' |
Maximum maturity for short-term investment | '1 year | ' | ' |
Past due balance | '90 days | ' | ' |
Bad debt expenses | 392 | 344 | 180 |
Number of customer accounted for more than 10% account receivable | 0 | 0 | ' |
Number of customer accounted for more than 10% revenue | 0 | 0 | 0 |
Number of primary sources | 2 | ' | ' |
Impairment of long-lived assets | 0 | 0 | 0 |
Goodwill impairment | 0 | ' | ' |
Sales commission expense payment period | '1 month | ' | ' |
Estimated dividend yield | 0.00% | ' | ' |
Risk-free interest rate | 0.00% | ' | ' |
Awards vesting, service period | '4 years | ' | ' |
Contractual term | '10 years | ' | ' |
Foreign currency losses | 1,796 | 286 | 1,619 |
Gain or loss on services received and provided. | 0 | ' | ' |
Non monetary transaction | $592 | $362 | $0 |
Software Development [Member] | ' | ' | ' |
Significant Of Accounting Policies [Line Items] | ' | ' | ' |
Estimated useful life | '3 years | ' | ' |
Computer Equipment and Software [Member] | ' | ' | ' |
Significant Of Accounting Policies [Line Items] | ' | ' | ' |
Estimated useful life | '3 years | ' | ' |
Furniture and Equipment [Member] | ' | ' | ' |
Significant Of Accounting Policies [Line Items] | ' | ' | ' |
Estimated useful life | '7 years | ' | ' |
Net_Income_Loss_Per_Share_Addi
Net Income (Loss) Per Share - Additional Information (Detail) | 0 Months Ended | 12 Months Ended | ||||||
Jun. 13, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Convertible Preferred Stock [Member] | Convertible Preferred Stock [Member] | Restricted Stock Units (RSUs) [Member] | Common Stock Warrants [Member] | Common Stock Warrants [Member] | ||||
Employee Stock Option [Member] | Employee Stock Option [Member] | |||||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Option exercises during period | 573,941 | 635,072 | 118,842 | ' | ' | ' | 0 | ' |
Effect of antidilutive securities in computation of pro forma diluted loss per share | ' | ' | ' | 10,499,007 | 17,418,807 | 2,050,265 | ' | 1,839,607 |
Net_Income_Loss_Per_Share_Comp
Net Income (Loss) Per Share - Computation of Basic and Diluted Net Income Per Share (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Earnings Per Share [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income (loss) | ($433) | ($829) | ($2,287) | $310 | $1,521 | $1,401 | $513 | $870 | ($3,239) | $4,305 | ($184) |
Weighted average number of shares outstanding: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Weighted average common shares outstanding | ' | ' | ' | ' | ' | ' | ' | ' | 25,289,788 | 15,748,551 | 16,757,527 |
Effect of convertible preferred stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | 17,418,807 | ' |
Weighted average shares outstanding for basic earnings per share | ' | ' | ' | ' | ' | ' | ' | ' | 25,289,788 | 33,167,358 | 16,757,527 |
Effect of share-based equity award plan | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,555,447 | ' |
Effect of warrants | ' | ' | ' | ' | ' | ' | ' | ' | ' | 67,832 | ' |
Weighted average shares outstanding for diluted earnings per share | ' | ' | ' | ' | ' | ' | ' | ' | 25,289,788 | 34,790,637 | 16,757,527 |
Net income (loss) per share: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Basic | ($0.01) | ($0.03) | ($0.15) | $0.01 | $0.05 | $0.04 | $0.02 | $0.03 | ($0.13) | $0.13 | ($0.01) |
Diluted | ($0.01) | ($0.03) | ($0.15) | $0.01 | $0.04 | $0.04 | $0.01 | $0.02 | ($0.13) | $0.12 | ($0.01) |
Acquisitions_Additional_Inform
Acquisitions - Additional Information (Detail) (USD $) | 12 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | 0 Months Ended | 1 Months Ended | 12 Months Ended | 0 Months Ended | 1 Months Ended | 12 Months Ended | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Jan. 31, 2013 | Jun. 12, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Jul. 12, 2012 | Jun. 12, 2012 | Jun. 12, 2012 | Jun. 12, 2012 | Jan. 17, 2012 | Jan. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Jan. 17, 2012 | Jan. 17, 2012 | Dec. 31, 2012 | Jan. 31, 2014 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | |
Acquisition | Acquisition | CrowdCompass [Member] | CrowdCompass [Member] | CrowdCompass [Member] | CrowdCompass [Member] | CrowdCompass [Member] | CrowdCompass [Member] | CrowdCompass [Member] | CrowdTorch (Seedlabs) [Member] | CrowdTorch (Seedlabs) [Member] | CrowdTorch (Seedlabs) [Member] | CrowdTorch (Seedlabs) [Member] | CrowdTorch (Seedlabs) [Member] | CrowdTorch (Seedlabs) [Member] | CrowdTorch (Seedlabs) [Member] | CrowdTorch (Seedlabs) [Member] | TicketMob [Member] | TicketMob [Member] | TicketMob [Member] | TicketMob [Member] | TicketMob [Member] | TicketMob [Member] | TicketMob [Member] | |||
Minimum [Member] | Maximum [Member] | Based on the Achievement of Certain Revenue Target or Specified Periods of Time (Deferred Payments) [Member] | Minimum [Member] | Maximum [Member] | Based on the Achievement of Certain Revenue Target or Specified Periods of Time (Deferred Payments) [Member] | Subsequent Event [Member] | Maximum [Member] | Accounts Receivable [Member] | Accounts Payable [Member] | Continued Employment Contingent Consideration [Member] | Continued Employment Contingent Consideration [Member] | |||||||||||||||
Loans At Acquisition Date [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of acquisitions | 0 | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Acquisition of business for total consideration | ' | ' | ' | ' | $5,977,000 | ' | ' | ' | ' | ' | ' | $2,398,000 | ' | ' | ' | ' | ' | ' | ' | $5,918,000 | ' | ' | ' | ' | ' | ' |
Cash paid for acquisition, net of cash acquired | 90,000 | 12,460,000 | ' | ' | 5,831,000 | ' | ' | ' | ' | ' | ' | 1,406,000 | ' | ' | ' | ' | ' | ' | ' | 5,223,000 | ' | ' | ' | ' | ' | ' |
Business combination, shares issued, shares | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 116,925 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business combination, shares issued, value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 935,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business acquisition deferred consideration amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 57,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business acquisition deferred consideration period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '3 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Contingent consideration, maximum | ' | ' | ' | 893,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 43,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Company obligated to pay contingent | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,800,000 | 1,167,000 | ' | ' | ' | ' | ' | ' | ' | 6,494,000 | ' | ' | ' | ' | ' | 1,055,000 |
Acquisition amount to be paid | ' | ' | ' | ' | '3 years | ' | ' | ' | '1 year | '3 years | ' | ' | ' | ' | ' | '1 year | '3 years | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Payments of accrued additional payments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 280,000 | ' | ' | ' | ' | ' | 280,000 | ' | ' | ' | ' | ' | ' | ' |
Accrued additional payments | 1,787,000 | 1,016,000 | ' | ' | ' | 1,062,000 | 736,000 | ' | ' | ' | ' | ' | ' | 280,000 | 280,000 | ' | ' | ' | ' | ' | 445,000 | ' | ' | ' | ' | ' |
Provisions accrued | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fair value of the net tangible and identifiable intangible assets acquired | 12,703,000 | 12,505,000 | ' | ' | 4,752,000 | ' | ' | 4,752,000 | ' | ' | ' | 1,909,000 | ' | ' | 1,909,000 | ' | ' | ' | ' | 6,042,000 | 6,042,000 | ' | ' | ' | ' | ' |
Acquisition related cost | ' | ' | ' | ' | ' | 232,000 | ' | ' | ' | ' | ' | ' | ' | ' | 77,000 | ' | ' | ' | ' | ' | 173,000 | ' | ' | ' | ' | ' |
Deferred consideration | ' | ' | ' | ' | 200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fair value of deferred consideration | ' | ' | ' | ' | 146,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amount accrued related to provisions | ' | ' | ' | ' | ' | 1,062,000 | 736,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accrued additional payments paid | 1,388,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Additional net operating loss as an adjustment to goodwill | 329,000 | ' | ' | ' | ' | -329,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 527,000 | ' | 435,000 | 92,000 | ' | ' |
Retained as litigation reserve | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 250,000 | ' | ' | ' | ' | ' | ' |
Acquisition amount paid in equal installments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 445,000 | ' | ' | ' | ' | ' | ' |
Month in which amount to be paid | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '18 months | ' | ' | ' | ' | ' | ' |
Month in which amount to be paid | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '36 months | ' | ' | ' | ' | ' | ' |
Accrued additional payments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 445,000 | 0 |
Additionally payment over the purchase agreement | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7,006,000 | ' | ' | ' | ' |
Amounts accrued | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0 | $0 | ' | ' | ' | ' | ' |
Acquisitions_Allocation_of_Pur
Acquisitions - Allocation of Purchase Price for Acquired Net Assets Based on Their Estimated Fair Values (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Jan. 17, 2012 | Jan. 17, 2012 | Jan. 17, 2012 | Jul. 12, 2012 | Jun. 12, 2012 | Jun. 12, 2012 | Jun. 12, 2012 | Jun. 12, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | CrowdTorch (Seedlabs) [Member] | CrowdTorch (Seedlabs) [Member] | CrowdTorch (Seedlabs) [Member] | CrowdTorch (Seedlabs) [Member] | CrowdCompass [Member] | CrowdCompass [Member] | CrowdCompass [Member] | CrowdCompass [Member] | CrowdCompass [Member] | TicketMob [Member] | TicketMob [Member] | TicketMob [Member] | TicketMob [Member] | TicketMob [Member] | ||
Software Technology [Member] | Customer Relationships [Member] | Software Technology [Member] | Customer Relationships [Member] | Trademarks/Trade Names [Member] | Software Technology [Member] | Customer Relationships [Member] | Trademarks/Trade Names [Member] | |||||||||
Loans At Acquisition Date [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Deferred tax asset | ' | ' | ' | ' | ' | ' | ' | $329 | ' | ' | ' | ' | ' | ' | ' | ' |
Tangible assets | ' | ' | ' | 269 | ' | ' | ' | 296 | ' | ' | ' | ' | 1,495 | ' | ' | ' |
Customer relationships | ' | ' | ' | ' | 423 | 70 | ' | ' | 1,400 | 550 | 180 | ' | ' | 437 | 1,096 | 82 |
Goodwill | 12,703 | 12,505 | 1,909 | 1,909 | ' | ' | 4,752 | 4,752 | ' | ' | ' | 6,042 | 6,042 | ' | ' | ' |
Current liabilities | ' | ' | ' | -273 | ' | ' | ' | -688 | ' | ' | ' | ' | -3,234 | ' | ' | ' |
Deferred tax liability | ' | ' | ' | ' | ' | ' | ' | -842 | ' | ' | ' | ' | ' | ' | ' | ' |
Total consideration | ' | ' | ' | $2,398 | ' | ' | ' | $5,977 | ' | ' | ' | ' | $5,918 | ' | ' | ' |
Property_and_Equipment_and_Cap2
Property and Equipment and Capitalized Software Development Costs - Summary of Property and Equipment and Capitalized Software Development Costs (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Property, Plant and Equipment [Line Items] | ' | ' |
Property and equipment gross | $19,601 | $15,603 |
Less accumulated depreciation | -11,695 | -8,847 |
Total property and equipment, net | 7,906 | 6,756 |
Capitalized software development costs | 18,134 | 10,990 |
Less accumulated amortization | -8,870 | -5,562 |
Total capitalized software development costs | 9,264 | 5,428 |
Computer Equipment and Purchased Software [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property and equipment gross | 9,278 | 8,226 |
Furniture and Equipment [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property and equipment gross | 3,864 | 2,773 |
Leasehold Improvements [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property and equipment gross | 6,293 | 4,561 |
Work in Progress [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property and equipment gross | 99 | ' |
Automobiles [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property and equipment gross | $67 | $43 |
Property_and_Equipment_and_Cap3
Property and Equipment and Capitalized Software Development Costs - Additional Information (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Property and Equipment [Member] | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Depreciation and amortization expense | $3,665 | $2,623 | $1,891 |
Software Development [Member] | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Depreciation and amortization expense | $3,308 | $2,504 | $2,026 |
Goodwill_and_Intangible_Assets2
Goodwill and Intangible Assets - Change in Carrying Amount of Goodwill (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Jul. 12, 2012 | Jun. 12, 2012 |
Goodwill [Line Items] | ' | ' | ' |
Goodwill as of December 31, 2012 | $12,505 | ' | ' |
Adjustment to goodwill | 329 | ' | ' |
Goodwill as of December 31, 2013 | 12,703 | ' | ' |
CrowdCompass [Member] | ' | ' | ' |
Goodwill [Line Items] | ' | ' | ' |
Goodwill as of December 31, 2012 | ' | 4,752 | 4,752 |
Adjustment to goodwill | -329 | ' | ' |
Goodwill as of December 31, 2013 | ' | 4,752 | 4,752 |
TicketMob [Member] | ' | ' | ' |
Goodwill [Line Items] | ' | ' | ' |
Goodwill as of December 31, 2012 | 6,042 | ' | ' |
Adjustment to goodwill | 527 | ' | ' |
Goodwill as of December 31, 2013 | $6,042 | ' | ' |
Goodwill_and_Intangible_Assets3
Goodwill and Intangible Assets - Additional Information (Detail) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Goodwill And Intangible Assets [Line Items] | ' | ' |
Amortization of intangible assets | ($796) | ' |
Finite-Lived Intangible Assets [Member] | ' | ' |
Goodwill And Intangible Assets [Line Items] | ' | ' |
Amortization of intangible assets | $796 | $319 |
Minimum [Member] | ' | ' |
Goodwill And Intangible Assets [Line Items] | ' | ' |
Intangible assets useful life | '4 years | ' |
Maximum [Member] | ' | ' |
Goodwill And Intangible Assets [Line Items] | ' | ' |
Intangible assets useful life | '6 years | ' |
Goodwill_and_Intangible_Assets4
Goodwill and Intangible Assets - Acquisition of Intangible Assets (Detail) (USD $) | 12 Months Ended |
In Thousands, unless otherwise specified | Dec. 31, 2013 |
Finite-Lived Intangible Assets [Line Items] | ' |
Net carrying amount December 31, 2012 | $3,919 |
Additions | ' |
Amortization | 796 |
Net carrying amount December 31, 2013 | 3,123 |
Customer Relationships [Member] | ' |
Finite-Lived Intangible Assets [Line Items] | ' |
Net carrying amount December 31, 2012 | 1,650 |
Additions | ' |
Amortization | 292 |
Net carrying amount December 31, 2013 | 1,358 |
Weighted average life as of December 31, 2013 | '6 years |
Software Technology [Member] | ' |
Finite-Lived Intangible Assets [Line Items] | ' |
Net carrying amount December 31, 2012 | 2,027 |
Additions | ' |
Amortization | 452 |
Net carrying amount December 31, 2013 | 1,575 |
Weighted average life as of December 31, 2013 | '5 years |
Trademarks/Trade Names [Member] | ' |
Finite-Lived Intangible Assets [Line Items] | ' |
Net carrying amount December 31, 2012 | 242 |
Additions | ' |
Amortization | 52 |
Net carrying amount December 31, 2013 | $190 |
Weighted average life as of December 31, 2013 | '5 years |
Goodwill_and_Intangible_Assets5
Goodwill and Intangible Assets - Amortization Expense of Intangible Assets (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Goodwill And Intangible Assets Disclosure [Abstract] | ' | ' |
2014 | $796 | ' |
2015 | 796 | ' |
2016 | 780 | ' |
2017 | 526 | ' |
2018 | 225 | ' |
Total | $3,123 | $3,919 |
Income_Taxes_Income_Taxes_on_I
Income Taxes - Income Taxes on Income Before Taxes (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Income Tax Disclosure [Abstract] | ' | ' | ' |
U.S. | ($1,119) | $6,638 | $2,818 |
Foreign | 195 | 2,073 | -253 |
Total | ($924) | $8,711 | $2,565 |
Income_Taxes_Components_of_Pro
Income Taxes - Components of Provision for Income Taxes Attributable to Continuing Operations (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Current income tax expense: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
U.S. federal | ' | ' | ' | ' | ' | ' | ' | ' | $367 | $3,132 | $1,786 |
U.S. state and local | ' | ' | ' | ' | ' | ' | ' | ' | 272 | 900 | 424 |
Foreign jurisdiction | ' | ' | ' | ' | ' | ' | ' | ' | 888 | 808 | 714 |
Total current tax expense | ' | ' | ' | ' | ' | ' | ' | ' | 1,527 | 4,840 | 2,924 |
Deferred income tax expense (benefit): | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
U.S. federal | ' | ' | ' | ' | ' | ' | ' | ' | 1,081 | -304 | -102 |
U.S. state and local | ' | ' | ' | ' | ' | ' | ' | ' | 196 | -81 | -18 |
Foreign jurisdiction | ' | ' | ' | ' | ' | ' | ' | ' | -489 | -49 | -55 |
Total deferred tax expense (benefit) | ' | ' | ' | ' | ' | ' | ' | ' | 788 | -434 | -175 |
Total income tax provision | $178 | $1,400 | $1,099 | ($362) | $399 | $1,696 | $982 | $1,329 | $2,315 | $4,406 | $2,749 |
Income_Taxes_Reconciliation_be
Income Taxes - Reconciliation between Statutory Tax Rate and Effective Tax Rate (Detail) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Income Tax Disclosure [Abstract] | ' | ' | ' |
U.S. federal statutory rate | 34.00% | 35.00% | 34.00% |
Increase (reduction) resulting from: | ' | ' | ' |
U.S. state income taxes, net of federal benefits | -26.30% | 5.90% | 4.70% |
Stock compensation adjustment | -144.80% | 16.10% | 43.00% |
Non-deductible/non-taxable items | -22.80% | 2.30% | 30.90% |
Uncertain tax positions | -66.00% | 1.20% | 11.20% |
Acquisition related expenses | -56.70% | ' | ' |
Benefit of credits | 97.30% | -9.10% | -5.30% |
Provision to return differences | -34.30% | ' | -15.90% |
Foreign tax rate differential | -11.20% | -0.60% | 5.40% |
Other | 8.50% | -0.50% | -0.50% |
Change in Valuation Allowance | -23.40% | ' | ' |
Foreign tax expense | -4.90% | ' | ' |
Effective income tax rate | -250.60% | 50.30% | 107.50% |
Income_Taxes_Significant_Compo
Income Taxes - Significant Components of Deferred Tax Assets and Liabilities (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
In Thousands, unless otherwise specified | |||
Deferred tax assets: | ' | ' | ' |
Allowance for doubtful accounts | $279 | $199 | $125 |
Reserves | 1,110 | 823 | 910 |
Deferred rent | 427 | 488 | 374 |
Accrued expenses and other | 1,583 | 674 | 595 |
Foreign tax credit carryforward | 329 | 185 | 136 |
Stock compensation | 88 | 790 | 317 |
Net operating loss carryforwards | 945 | 970 | 1,029 |
Total deferred tax assets | 4,761 | 4,129 | 3,486 |
Deferred tax liabilities: | ' | ' | ' |
Basis difference in fixed assets | -408 | -914 | -967 |
Capitalized software development costs | -3,715 | -2,147 | -1,631 |
Intangibles-acquisitions | -450 | -614 | ' |
Total deferred tax liabilities | -4,573 | -3,675 | -2,598 |
Valuation Allowance | -194 | ' | ' |
Net deferred tax asset (liability) | ($6) | $454 | $888 |
Income_Taxes_Additional_Inform
Income Taxes - Additional Information (Detail) (USD $) | 3 Months Ended | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Income Taxes [Line Items] | ' | ' | ' | ' |
Special economic zones, duration of tax holiday for operation | '15 years | ' | ' | ' |
Special economic zones qualifying operations eligible for deduction | 100.00% | ' | ' | ' |
Duration for special economic zones qualifying operations eligible for deduction | '5 years | ' | ' | ' |
Special economic zones export profits | 50.00% | ' | ' | ' |
Special economic zones export profits for capital investments | 50.00% | ' | ' | ' |
Expiry of tax holiday | '2028 | ' | ' | ' |
Benefit of tax holiday under income tax | ' | $48 | ' | ' |
Tax effect of federal loss carryforwards | ' | 690 | 871 | 930 |
Tax effect on net operating loss carryforwards | ' | 59 | 99 | 99 |
Operating loss carryforward expiration description | ' | 'The net operating loss carryforwards will expire, if unused, in varying amounts beginning in 2021. | ' | ' |
Operating loss carryforward expiration beginning year | ' | '2021 | ' | ' |
Net operating loss carryforward, annual limitation | 246 | 246 | 246 | ' |
Excess amount over tax basis investment in foreign subsidiaries | 1,548 | 1,548 | ' | ' |
Probability for sustaining a tax position | ' | 50.00% | ' | ' |
Unrecognized tax benefits would materially change period description | ' | 'The Company does not believe it is reasonably possible that the composition of its unrecognized tax benefits would materially change in the next 12 months. | ' | ' |
Unrecognized tax benefits | 840 | 840 | 435 | 372 |
Unrecognized tax benefits result in adjustments to other tax | 328 | 328 | 179 | 136 |
U.S. federal, state or local tax authorities, year | ' | ' | '2010 | ' |
Federal statute of limitations period | ' | ' | '3 years | ' |
Interest and penalties | ' | 111 | 50 | 258 |
Federal [Member] | ' | ' | ' | ' |
Income Taxes [Line Items] | ' | ' | ' | ' |
Net operating loss carryforwards | $1,972 | $1,972 | $2,488 | $2,735 |
Income_Taxes_Reconciliation_of
Income Taxes - Reconciliation of Unrecognized Tax Benefits (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Income Tax Disclosure [Abstract] | ' | ' | ' |
Unrecognized tax benefits, opening balance | $614 | $508 | $36 |
Gross increases-tax positions in prior period | 83 | ' | 220 |
Gross decreases-tax positions in prior period | -72 | 1 | ' |
Gross increases-current-period tax positions | 543 | 105 | 252 |
Unrecognized tax benefits, ending balance | $1,168 | $614 | $508 |
StockBased_Compensation_Additi
Stock-Based Compensation - Additional Information (Detail) (USD $) | 0 Months Ended | 1 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | ||||||||||||||||||||
In Thousands, except Share data, unless otherwise specified | Jun. 13, 2012 | Jul. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Jan. 02, 2014 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2011 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 |
Call Option [Member] | 2013 Plan [Member] | 2013 Plan [Member] | 1999 Stock Plan [Member] | Employee Stock Option [Member] | Employee Stock Option [Member] | Employee Stock Option [Member] | Non-Employee [Member] | Other Non-Employee [Member] | Common Stock Warrants [Member] | Common Stock Warrants [Member] | Common Stock Warrants [Member] | Common Stock Call Option [Member] | Common Stock Call Option [Member] | Common Stock Call Option [Member] | Common Stock Call Option [Member] | Common Stock Call Option [Member] | Restricted Stock Units (RSUs) [Member] | Restricted Stock Units (RSUs) [Member] | Restricted Stock Units (RSUs) [Member] | Restricted Stock Units (RSUs) [Member] | Restricted Stock Units (RSUs) [Member] | ||||||
Subsequent Event [Member] | Maximum [Member] | Non Employee Director [Member] | Employee [Member] | ||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Option vesting period | ' | ' | '4 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '2 years | ' | ' | ' | ' | ' | ' | ' | ' |
Options expiration period | ' | ' | '10 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Maximum exercisable period of options | ' | ' | '3 months | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Performance goal award | ' | ' | ' | ' | ' | ' | 100.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unissued shares | ' | ' | ' | ' | ' | ' | ' | ' | 4,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Minimum number of shares added to available for issuance under plan | ' | ' | ' | ' | ' | ' | 4,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of outstanding shares of common stock | ' | ' | ' | ' | ' | ' | 5.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Increased shares available for issuance | ' | ' | ' | ' | ' | ' | ' | 2,010,384 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares available for future grant | ' | ' | ' | ' | ' | ' | 4,921,792 | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Weighted average grant date fair value | ' | ' | $7.20 | $4.68 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $2.56 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Intrinsic value of options exercised | ' | ' | $13,823 | $891 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $150 | ' | $1,290 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock-based compensation expense | ' | ' | 4,733 | 5,206 | 3,951 | ' | ' | ' | ' | 2,552 | 2,035 | 1,441 | ' | ' | 299 | 206 | 859 | ' | 1,824 | 2,965 | 1,651 | ' | 58 | 0 | 0 | ' | ' |
Unrecognized compensation cost related to unvested stock options granted | ' | ' | 6,319 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Weighted average period of unrecognized compensation cost recognition | ' | ' | '2 years 5 months 16 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock options were exercised prior to vesting pursuant to an early exercise feature | 573,941 | ' | 635,072 | 118,842 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of shares issued | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7,555 | ' | ' | 5,555 | 2,000 |
Vesting period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '1 year | '4 years |
Number of outstanding awards | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7,555 | 0 | 0 | ' | ' |
Warrant issued to repurchase shares | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 125,000 | 203,700 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Warrants repurchased exercise price | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.8 | 1.8 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Vested period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '4 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Expiration date of warrant | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 31-Dec-17 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Warrant expiration year | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '2018 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Warrants granted | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Warrants repurchased, total intrinsic value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,275 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock based compensation expenses | ' | ' | 4,733 | 5,206 | 3,951 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 299 | 206 | 859 | ' | 1,824 | 2,965 | 1,651 | ' | ' | ' | ' | ' | ' |
Outstanding warrants | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Limit to repurchase option | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50.00% | ' | ' | ' | ' | ' |
Value of common stock repurchase per share | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $7.80 | ' | ' | ' | ' | ' | ' | ' | ' |
Effective period of call option | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '2 years | ' | ' | ' | ' | ' | ' | ' | ' |
Term to continue employment to earn back right | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '2 years | ' | ' | ' | ' | ' | ' | ' | ' |
Repurchase agreement expiration date | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 15-Jul-13 | ' | ' | ' | ' | ' | ' | ' | ' |
Recognized compensation expense, term | ' | ' | ' | ' | ' | '2 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Repurchase of common stock | ' | 5,669,374 | ' | 507,059 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 504,559 | ' | 504,559 | ' | ' | ' | ' | ' | ' | ' |
Value of common stock repurchase per share | ' | $7.80 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $7.80 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Value of stock repurchase | ' | $44,221 | ' | $3,950 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $3,936 | ' | $3,936 | ' | ' | ' | ' | ' | ' | ' |
StockBased_Compensation_Compon
Stock-Based Compensation - Components of Stock-Based Compensation Expense Recognized in Earnings (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Stock-based compensation expense | $4,733 | $5,206 | $3,951 |
Employee Stock Option [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Stock-based compensation expense | 2,552 | 2,035 | 1,441 |
Restricted Stock Units (RSUs) [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Stock-based compensation expense | 58 | 0 | 0 |
Common Stock Warrants [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Stock-based compensation expense | 299 | 206 | 859 |
Common Stock Call Option [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Stock-based compensation expense | $1,824 | $2,965 | $1,651 |
StockBased_Compensation_Summar
Stock-Based Compensation - Summary of Assumptions Used in Valuation of Stock-Based Awards (Detail) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' | ' | ' |
Dividend yield | 0.00% | 0.00% | 0.00% |
Volatility | 53.94% | 54.28% | 54.01% |
Expected term (years) | '6 years 5 months 5 days | '6 years 5 months 27 days | '6 years 4 months 17 days |
Risk-free interest rate | 1.38% | 0.97% | 2.47% |
StockBased_Compensation_Stock_
Stock-Based Compensation - Stock Option Activity (Detail) (USD $) | 0 Months Ended | 12 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Jun. 13, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' | ' | ' | ' |
Beginning balance | ' | 3,290,039 | 3,117,367 | ' |
Number of shares subject to options, Granted | ' | 1,114,801 | 396,625 | ' |
Number of shares subject to options, Exercised | -573,941 | -635,072 | -118,842 | ' |
Number of shares subject to options, Forfeited | ' | -129,609 | -105,111 | ' |
Number of shares subject to options, Expired | ' | -8,887 | ' | ' |
Ending balance | ' | 3,631,272 | 3,290,039 | 3,117,367 |
Beginning balance | ' | $2.40 | $1.76 | ' |
Number of shares subject to options, Exercisable | ' | 879,911 | ' | ' |
Weighted average exercise price, Granted | ' | $13.52 | $6.76 | ' |
Weighted average exercise price, Exercised | ' | $1.47 | $0.56 | ' |
Weighted average exercise price, Forfeited | ' | $7.50 | $2.56 | ' |
Weighted average exercise price, Expired | ' | $1.18 | ' | ' |
Ending balance | ' | $5.78 | $2.40 | $1.76 |
Aggregate intrinsic value, Beginning balance | ' | $23,030 | ' | $19,452 |
Weighted average exercise price, Exercisable | ' | $1.60 | ' | ' |
Weighted average remaining contractual term (years) | ' | '7 years 10 months 6 days | '8 years 29 days | '8 years 9 months 15 days |
Weighted average remaining contractual term (years), Exercisable | ' | '6 years 8 months 19 days | ' | ' |
Aggregate intrinsic value, Ending Balance | ' | 111,150 | 23,030 | ' |
Aggregate intrinsic value, Exercisable | ' | $30,612 | ' | ' |
StockBased_Compensation_Summar1
Stock-Based Compensation - Summary of RSU Activity (Detail) (Restricted Stock Units (RSUs) [Member], USD $) | 12 Months Ended | |
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2011 |
Restricted Stock Units (RSUs) [Member] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Number of shares subject to restriction, Beginning Balance | 0 | 0 |
Number of shares subject to restriction, Granted | 7,555 | ' |
Number of shares subject to restriction, Exercised | ' | ' |
Number of shares subject to restriction, Forfeited | ' | ' |
Number of shares subject to restriction, Ending Balance | 7,555 | 0 |
Weighted average share value, Beginning Balance | ' | ' |
Weighted average share value, Granted | $34.27 | ' |
Weighted average share value, Exercised | ' | ' |
Weighted average share value, Forfeited | ' | ' |
Weighted average share value, Ending Balance | $34.27 | ' |
Weighted average remaining contractual term (years) | '1 year 2 months 5 days | ' |
Aggregate intrinsic value, Beginning Balance | ' | ' |
Aggregate intrinsic value, Ending Balance | $275 | ' |
StockBased_Compensation_Summar2
Stock-Based Compensation - Summary of Weighted Average Assumptions Used in Valuation of Warrants (Detail) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ' | ' | ' |
Dividend yield | 0.00% | 0.00% | 0.00% |
Volatility | 53.94% | 54.28% | 54.01% |
Expected term (years) | '6 years 5 months 5 days | '6 years 5 months 27 days | '6 years 4 months 17 days |
Risk-free interest rate | 1.38% | 0.97% | 2.47% |
Common Stock Warrants [Member] | ' | ' | ' |
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ' | ' | ' |
Dividend yield | 0.00% | 0.00% | 0.00% |
Volatility | 55.00% | 55.00% | 55.28% |
Expected term (years) | '4 years 7 months 17 days | '5 years | '6 years |
Risk-free interest rate | 1.09% | 0.72% | 1.09% |
StockBased_Compensation_Summar3
Stock-Based Compensation - Summary of Common Stock Warrant Activity (Detail) (USD $) | 1 Months Ended | 12 Months Ended | ||||||
In Thousands, except Share data, unless otherwise specified | Jul. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
Common Stock Warrants [Member] | Common Stock Warrants [Member] | Common Stock Warrants [Member] | Common Stock Warrants [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Beginning balance | ' | 3,290,039 | 3,117,367 | ' | 139,729 | 139,729 | 22,559 | ' |
Granted | ' | 1,114,801 | 396,625 | ' | ' | ' | 328,700 | ' |
Exercised | ' | ' | ' | ' | -14,729 | ' | -211,530 | ' |
Repurchased | -17,418,695 | ' | ' | ' | -125,000 | ' | ' | ' |
Ending balance | ' | 3,631,272 | 3,290,039 | 3,117,367 | ' | 139,729 | 139,729 | 22,559 |
Beginning balance | ' | $2.40 | $1.76 | ' | $1.80 | $1.80 | $0.76 | ' |
Granted | ' | $13.52 | $6.76 | ' | ' | ' | $1.80 | ' |
Exercised | ' | $1.47 | $0.56 | ' | $1.80 | ' | $1.72 | ' |
Repurchased | ' | ' | ' | ' | $1.80 | ' | ' | ' |
Ending balance | ' | $5.78 | $2.40 | $1.76 | ' | $1.80 | $1.80 | $0.76 |
Weighted average remaining contractual term | ' | '7 years 10 months 6 days | '8 years 29 days | '8 years 9 months 15 days | ' | '5 years 7 days | '6 years 7 days | '8 years 9 months 29 days |
Aggregate intrinsic value, Beginning balance | ' | $23,030 | ' | $19,452 | $1,006 | $866 | $23 | ' |
Aggregate intrinsic value, Ending Balance | ' | $111,150 | $23,030 | ' | ' | $1,006 | $866 | $23 |
StockBased_Compensation_Assump
Stock-Based Compensation - Assumptions Used in Black-Scholes Pricing Model (Detail) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Dividend yield | 0.00% | 0.00% | 0.00% |
Volatility | 53.94% | 54.28% | 54.01% |
Expected term (years) | '6 years 5 months 5 days | '6 years 5 months 27 days | '6 years 4 months 17 days |
Risk-free interest rate | 1.38% | 0.97% | 2.47% |
Common Stock Call Option [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Dividend yield | 0.00% | ' | ' |
Volatility | 40.00% | ' | ' |
Expected term (years) | '2 years | ' | ' |
Risk-free interest rate | 0.37% | ' | ' |
Stockholders_Equity_Additional
Stockholders' Equity - Additional Information (Detail) (USD $) | 0 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | 1 Months Ended | 12 Months Ended | 0 Months Ended | |||||
Aug. 14, 2013 | Jul. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Aug. 31, 2013 | Jul. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Dec. 31, 2012 | Aug. 14, 2013 | |
Series A Convertible Preferred Stock [Member] | Series A Convertible Preferred Stock [Member] | Series A Convertible Preferred Stock [Member] | Series A Convertible Preferred Stock [Member] | Common Stock Call Option [Member] | Common Stock Call Option [Member] | IPO [Member] | ||||||
Schedule Of Stockholders Equity [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Reverse stock split ratio | 0.25 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Convertible preferred stock converted into shares of common stock | ' | ' | ' | ' | ' | 17,418,807 | 17,418,807 | ' | ' | ' | ' | 17,418,807 |
Common stock issued | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6,440,000 |
Net proceeds from IPO | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $122,100,000 |
Preferred stock, par value | ' | ' | $0.00 | $0.00 | ' | ' | ' | $0.00 | $0.00 | ' | ' | ' |
Preferred stock, shares authorized | ' | ' | 100,000,000 | 0 | ' | ' | ' | 0 | 69,675,300 | ' | ' | ' |
Preferred stock, shares outstanding | ' | ' | 0 | 0 | ' | ' | ' | 0 | 17,418,807 | ' | ' | ' |
Number of shares authorized | ' | ' | 1,000,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock, par value | ' | ' | $0.00 | $0.00 | ' | ' | ' | ' | ' | ' | ' | ' |
Common Shares outstanding | ' | ' | 39,889,577 | 15,380,969 | ' | ' | ' | ' | ' | ' | ' | ' |
Voting right | ' | ' | 'One vote for each share held | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Repurchase of common stock | ' | 5,669,374 | ' | 507,059 | ' | ' | ' | ' | ' | 504,559 | 504,559 | ' |
Value of stock repurchase | ' | 44,221,000 | ' | 3,950,000 | ' | ' | ' | ' | ' | 3,936,000 | 3,936,000 | ' |
Preferred stock issued price per share | ' | ' | ' | ' | ' | ' | $7.80 | ' | ' | ' | ' | ' |
Proceeds from issuance of convertible preferred stock shares | ' | ' | ' | ' | ' | ' | 135,023,000 | ' | ' | ' | ' | ' |
Shares repurchased during period, shares | ' | 17,418,695 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares repurchased during period, value | ' | 135,525,000 | ' | 3,950,000 | 135,866,000 | ' | ' | ' | ' | ' | ' | ' |
Proceeds related to Warrant exercised | ' | $341,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Preferred stock convertible to common stock, conversion basis | ' | ' | ' | ' | ' | 'One-to-one | ' | ' | ' | ' | ' | ' |
Retirement_Plans_Additional_In
Retirement Plans - Additional Information (Detail) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Discretionary contributions by employer | $0 | $0 | $0 |
India Gratuity Plan [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Period for which benefit will be paid upon termination | '15 days | ' | ' |
Period after which benefit begins to accrue | '5 years | ' | ' |
Funding liability, rate of interest under plan | 9.30% | 8.50% | ' |
Defined benefit plan, retirement age | '58 years | ' | ' |
Accrued and other liabilities, current | 851,000 | 555,000 | ' |
Defined benefit plan, expenses under the plan | $402,000 | $145,000 | $207,000 |
Commitments_and_Contingencies_1
Commitments and Contingencies - Future Minimum Lease Payments under Non-cancelable Operating Lease (Detail) (USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Commitments And Contingencies Disclosure [Abstract] | ' |
2014 | $2,907 |
2015 | 2,500 |
2016 | 4,210 |
2017 | 4,140 |
2018 | 3,732 |
2019 | 3,227 |
Thereafter | 19,545 |
Total minimum lease payments | $40,261 |
Commitments_and_Contingencies_2
Commitments and Contingencies - Additional Information (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Commitments And Contingencies Disclosure [Abstract] | ' | ' | ' |
Rent expenses under operating leases | $2,815 | $2,080 | $1,667 |
Accrued expenses | $280 | $417 | $321 |
End date of new strategic partnership agreement | 19-Nov-17 | ' | ' |
Commitments_and_Contingencies_3
Commitments and Contingencies - Changes in Recorded Amount of Accrued Compensation and Consideration from Acquisitions (Detail) (USD $) | 12 Months Ended |
In Thousands, unless otherwise specified | Dec. 31, 2013 |
Restructuring Cost and Reserve [Line Items] | ' |
Liability as of December 31, 2012 | $1,016 |
Payments | -1,668 |
Additional Accruals | 2,439 |
Liability as of December 31, 2013 | 1,787 |
CrowdTorch (Seedlabs) [Member] | ' |
Restructuring Cost and Reserve [Line Items] | ' |
Liability as of December 31, 2012 | 280 |
Payments | -280 |
Additional Accruals | 280 |
Liability as of December 31, 2013 | 280 |
CrowdCompass [Member] | ' |
Restructuring Cost and Reserve [Line Items] | ' |
Liability as of December 31, 2012 | 736 |
Payments | -1,388 |
Additional Accruals | 1,714 |
Liability as of December 31, 2013 | 1,062 |
TicketMob [Member] | ' |
Restructuring Cost and Reserve [Line Items] | ' |
Liability as of December 31, 2012 | ' |
Payments | ' |
Additional Accruals | 445 |
Liability as of December 31, 2013 | $445 |
RelatedParty_Transactions_Addi
Related-Party Transactions - Additional Information (Detail) (USD $) | 1 Months Ended | 12 Months Ended | ||
Jul. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Related Party Transactions [Abstract] | ' | ' | ' | ' |
Related party transactions | ' | $0 | $0 | ' |
Common stock repurchased, shares | 5,669,374 | ' | 507,059 | ' |
Common stock repurchase, price | $7.80 | ' | ' | ' |
Common stock repurchase, value | 44,221,000 | ' | 3,950,000 | ' |
Payment for repurchase of common and preferred stock | $137,055,000 | $1,275,000 | $3,950,000 | $137,055,000 |
Segment_Information_and_Geogra1
Segment Information and Geographic Data - Additional Information (Detail) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Segment Reporting Information [Line Items] | ' | ' | ' |
Number of operating Segment | 1 | ' | ' |
Geographic Concentration Risk [Member] | Sales Revenue, Net [Member] | Outside North America [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Concentration risk percentage | 10.00% | 9.00% | 7.00% |
Geographic Concentration Risk [Member] | Assets, Total [Member] | Outside North America [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Concentration risk percentage | 48.00% | 26.00% | ' |
Subsequent_Events_Additional_I
Subsequent Events - Additional Information (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Jan. 31, 2014 |
Subsequent Event [Member] | |||
Subsequent Event [Line Items] | ' | ' | ' |
Common stock issued during secondary offering | 40,409,791 | 15,901,183 | 5,280,000 |
Number of stock sold through second offering | ' | ' | 747,500 |
Net proceeds from Second offering | ' | ' | $24,700,000 |
Grant received as an incentive to promote local economic growth | ' | ' | $1,000,000 |
Lease expiration date | ' | ' | '2016 |
Unaudited_Quarterly_Results_of2
Unaudited Quarterly Results of Operations - Summary of Unaudited Quarterly Results of Operations (Detail) (USD $) | 3 Months Ended | 12 Months Ended | ||||||||||||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |||
Quarterly Financial Information Disclosure [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Revenue | $30,696 | $29,145 | $26,935 | $24,360 | $23,609 | $21,836 | $19,779 | $18,250 | $111,136 | $83,474 | $60,854 | |||
Cost of revenue | 10,675 | 8,412 | 7,172 | 6,003 | 5,925 | 5,395 | 4,628 | 4,625 | 32,262 | [1] | 20,573 | [1] | 16,660 | [1] |
Gross profit | 20,021 | 20,733 | 19,763 | 18,357 | 17,684 | 16,441 | 15,151 | 13,625 | 78,874 | 62,901 | 44,194 | |||
Operating expenses: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Sales and marketing | 13,203 | 11,552 | 12,131 | 11,519 | 10,125 | 9,192 | 8,420 | 8,136 | 48,405 | [1] | 35,873 | [1] | 29,305 | [1] |
Research and development | 3,086 | 2,813 | 2,789 | 2,502 | 2,214 | 2,082 | 1,886 | 1,423 | 11,190 | [1] | 7,605 | [1] | 4,172 | [1] |
General and administrative | 4,325 | 6,092 | 6,154 | 4,647 | 3,566 | 2,269 | 3,553 | 2,135 | 21,218 | [1] | 11,523 | [1] | 8,422 | [1] |
Total operating expenses | 20,614 | 20,457 | 21,074 | 18,668 | 15,905 | 13,543 | 13,859 | 11,694 | 80,813 | 55,001 | 41,899 | |||
Income (loss) from operations | -593 | 276 | -1,311 | -311 | 1,779 | 2,898 | 1,292 | 1,931 | -1,939 | 7,900 | 2,295 | |||
Interest income | 338 | 295 | 123 | 259 | 141 | 199 | 203 | 268 | 1,015 | 811 | 270 | |||
Income (loss) from operations before income tax expense | -255 | 571 | -1,188 | -52 | 1,920 | 3,097 | 1,495 | 2,199 | -924 | 8,711 | 2,565 | |||
Provision (benefit) for income taxes | 178 | 1,400 | 1,099 | -362 | 399 | 1,696 | 982 | 1,329 | 2,315 | 4,406 | 2,749 | |||
Net income (loss) | ($433) | ($829) | ($2,287) | $310 | $1,521 | $1,401 | $513 | $870 | ($3,239) | $4,305 | ($184) | |||
Net income (loss) per share-basic | ($0.01) | ($0.03) | ($0.15) | $0.01 | $0.05 | $0.04 | $0.02 | $0.03 | ($0.13) | $0.13 | ($0.01) | |||
Net income (loss) per share-diluted | ($0.01) | ($0.03) | ($0.15) | $0.01 | $0.04 | $0.04 | $0.01 | $0.02 | ($0.13) | $0.12 | ($0.01) | |||
[1] | Stock-based compensation expense included in the above: Cost of revenue $ 1,046 $ 762 690 Sales and marketing 2,306 2,895 2,376 Research and development 609 539 373 General and administrative 772 1,010 512 Total $ 4,733 $ 5,206 3,951 |
Schedule_II_Valuation_and_Qual
Schedule II - Valuation and Qualifying Accounts (Detail) (Allowance for Doubtful Accounts [Member], USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Allowance for Doubtful Accounts [Member] | ' | ' | ' |
Valuation and Qualifying Accounts Disclosure [Line Items] | ' | ' | ' |
Balance at Beginning of Period | $505 | $326 | $286 |
Charged to Costs and Expenses | 392 | 344 | 180 |
Charged to Other Accounts | ' | ' | ' |
Deductions | 166 | 165 | 140 |
Balance at End of Period | $731 | $505 | $326 |