Document_and_Entity_Informatio
Document and Entity Information (USD $) | 12 Months Ended | ||
In Millions, except Share data, unless otherwise specified | Dec. 31, 2013 | Mar. 04, 2014 | Jun. 30, 2013 |
Document Documentand 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 | ' | ' |
Trading Symbol | 'zipr | ' | ' |
Entity Registrant Name | 'ZIPREALTY INC | ' | ' |
Entity Central Index Key | '0001142512 | ' | ' |
Current Fiscal Year End Date | '--12-31 | ' | ' |
Entity Filer Category | 'Smaller Reporting Company | ' | ' |
Entity Well-known Seasoned Issuer | 'No | ' | ' |
Entity Current Reporting Status | 'Yes | ' | ' |
Entity Voluntary Filers | 'No | ' | ' |
Entity Common Stock, Shares Outstanding | ' | 21,695,909 | ' |
Entity Public Float | ' | ' | $51.40 |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Current assets | ' | ' |
Cash and cash equivalents | $14,311 | $12,921 |
Accounts receivable, net of allowance of $7 and $15, respectively | 975 | 1,496 |
Prepaid expenses and other current assets | 1,401 | 1,763 |
Total current assets | 16,687 | 16,180 |
Restricted cash | 210 | 500 |
Property and equipment, net | 3,142 | 2,387 |
Other assets | 145 | 362 |
Total assets | 20,184 | 19,429 |
Current liabilities | ' | ' |
Accounts payable | 1,100 | 823 |
Accrued expenses and other current liabilities | 6,171 | 4,293 |
Accrued restructuring charges, current portion | 44 | 221 |
Total current liabilities | 7,315 | 5,337 |
Other long-term liabilities | 586 | 592 |
Total liabilities | 7,901 | 5,929 |
Commitments and contingencies (Note 6) | ' | ' |
Stockholders' equity | ' | ' |
Common stock: $0.001 par value; 100,000 shares authorized: 25,263 and 24,303 shares issued and 21,647 and 20,692 outstanding, respectively | 25 | 24 |
Additional paid-in capital | 163,680 | 159,430 |
Accumulated deficit | -133,770 | -128,334 |
Treasury stock, at cost: 3,615 and 3,610 shares, respectively | -17,652 | -17,620 |
Total stockholders' equity | 12,283 | 13,500 |
Total liabilities and stockholders' equity | $20,184 | $19,429 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, except Share data, unless otherwise specified | ||
Consolidated Balance Sheets [Abstract] | ' | ' |
Accounts receivable, allowance | $7 | $15 |
Common stock, par value | $0.00 | $0.00 |
Common stock, shares authorized | 100,000,000 | 100,000,000 |
Common stock, shares issued | 25,262,791 | 24,302,749 |
Common stock, shares outstanding | 21,647,098 | 20,692,558 |
Treasury stock at cost, shares | 3,615,000 | 3,610,000 |
Consolidated_Statements_of_Ope
Consolidated Statements of Operations (USD $) | 12 Months Ended | |
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Consolidated Statements of Operations [Abstract] | ' | ' |
Net revenues | $75,853 | $73,820 |
Operating costs and expenses | ' | ' |
Cost of revenues | 43,674 | 40,661 |
Product development | 7,608 | 6,957 |
Sales and marketing | 21,205 | 20,490 |
General and administrative | 6,713 | 7,795 |
Litigation settlement charges (Note 6) | 2,003 | 5,825 |
Restructuring charges, net | 33 | 1,686 |
Total operating costs and expenses | 81,236 | 83,414 |
Loss from operations | -5,383 | -9,594 |
Interest income | 6 | 22 |
Loss before income taxes | -5,377 | -9,572 |
Provision for (benefit from) income taxes | 59 | 106 |
Net loss | ($5,436) | ($9,678) |
Net loss per share: | ' | ' |
Basic and diluted | ($0.26) | ($0.47) |
Weighted average common shares outstanding: | ' | ' |
Basic and diluted | 21,071 | 20,641 |
Consolidated_Statements_of_Ope1
Consolidated Statements of Operations (Parenthetical) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Consolidated Statements of Operations [Abstract] | ' | ' |
Amortization of internal-use software and website development costs included in product development | $1,348 | $1,156 |
Consolidated_Statements_of_Com
Consolidated Statements of Comprensive Income (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Statement of Other Comprehensive Income [Abstract] | ' | ' |
Net loss | ($5,436) | ($9,678) |
Change in accumulated unrealized gain on available-for-sale securities, net of tax | ' | 3 |
Comprehensive loss | ($5,436) | ($9,675) |
Consolidated_Statements_of_Sto
Consolidated Statements of Stockholders' Equity (USD $) | Common Stock [Member] | Additional Paid-In Capital [Member] | Common Stock Warrants [Member] | Accumulated Other Comprehensive Loss [Member] | Accumulated Deficit [Member] | Treasury Stock [Member] | Total |
In Thousands, except Share data | |||||||
Balance at Dec. 31, 2011 | $24 | $158,080 | ' | ($3) | ($118,656) | ($17,613) | $21,832 |
Balance (in shares) at Dec. 31, 2011 | 20,565,000 | ' | ' | ' | ' | 3,602,000 | ' |
Issuance of common stock upon exercise of stock options | ' | 144 | ' | ' | ' | ' | 144 |
Issuance of common stock upon exercise of stock options (in shares) | 120,000 | ' | ' | ' | ' | ' | 120,000 |
Issuance of restricted common stock | ' | ' | ' | ' | ' | ' | ' |
Issuance of restricted common stock (in shares) | 15,000 | ' | ' | ' | ' | ' | ' |
Stock-based compensation expense | ' | 1,206 | ' | ' | ' | ' | 1,206 |
Repurchase of treasury stock, (in shares) | -8,000 | ' | ' | ' | ' | ' | ' |
Acquisition of treasury stock | ' | ' | ' | ' | ' | -7 | -7 |
Acquisition of treasury stock, (in shares) | ' | ' | ' | ' | ' | 8,000 | 5,000 |
Net loss | ' | ' | ' | ' | -9,678 | ' | -9,678 |
Unrealized loss on available-for-sale securities, net of tax | ' | ' | ' | 3 | ' | ' | 3 |
Balance at Dec. 31, 2012 | 24 | 159,430 | ' | ' | -128,334 | -17,620 | 13,500 |
Balance (in shares) at Dec. 31, 2012 | 20,692,000 | ' | ' | ' | ' | 3,610,000 | ' |
Issuance of common stock upon exercise of stock options | 1 | 2,789 | ' | ' | ' | ' | 2,790 |
Issuance of common stock upon exercise of stock options (in shares) | 930,000 | ' | ' | ' | ' | ' | 930,000 |
Issuance of restricted common stock | ' | ' | ' | ' | ' | ' | ' |
Issuance of restricted common stock (in shares) | 30,000 | ' | ' | ' | ' | ' | ' |
Stock-based compensation expense | ' | 1,461 | ' | ' | ' | ' | 1,461 |
Repurchase of treasury stock, (in shares) | -5,000 | ' | ' | ' | ' | ' | ' |
Acquisition of treasury stock | ' | ' | ' | ' | ' | -32 | -32 |
Acquisition of treasury stock, (in shares) | ' | ' | ' | ' | ' | 5,000 | 5,000 |
Net loss | ' | ' | ' | ' | -5,436 | ' | -5,436 |
Balance at Dec. 31, 2013 | $25 | $163,680 | ' | ' | ($133,770) | ($17,652) | $12,283 |
Balance (in shares) at Dec. 31, 2013 | 21,647,000 | ' | ' | ' | ' | 3,615,000 | ' |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Cash flows from operating activities | ' | ' |
Net loss | ($5,436) | ($9,678) |
Adjustments to reconcile net loss to net cash used in operating activities | ' | ' |
Depreciation and amortization | 1,947 | 1,807 |
Stock-based compensation expense | 1,411 | 1,179 |
Non-cash restructuring charges | ' | 3 |
Provision for doubtful accounts | 12 | -15 |
Amortization (accretion) of short-term investment premium (discount) | ' | 44 |
Loss on disposal of property and equipment | ' | 11 |
Changes in operating assets and liabilities | ' | ' |
Accounts receivable | 509 | -272 |
Prepaid expenses and other current assets | 356 | 234 |
Other assets | 217 | -123 |
Accounts payable | 277 | -273 |
Accrued expenses and other current liabilities | 1,878 | -44 |
Accrued restructuring charges, current portion | -177 | -29 |
Other long-term liabilities | -6 | -189 |
Net cash provided by (used in) operating activities | 988 | -7,345 |
Cash flows from investing activities | ' | ' |
Restricted Cash | 290 | ' |
Proceeds from maturity short-term investments | ' | 9,460 |
Purchases of property and equipment | -2,646 | -1,980 |
Proceeds on property and equipment | ' | 15 |
Net cash provided by (used in) investing activities | -2,356 | 7,495 |
Cash flows from financing activities | ' | ' |
Proceeds from stock option exercises | 2,790 | 144 |
Acquisition of treasury stock | -32 | -7 |
Net cash provided by (used in) financing activities | 2,758 | 137 |
Net increase (decrease) in cash and cash equivalents | 1,390 | 287 |
Cash and cash equivalents at beginning of period | 12,921 | 12,634 |
Cash and cash equivalents at end of period | 14,311 | 12,921 |
Supplemental cash flow information Non-cash investing and financing activities | ' | ' |
Cash paid for taxes | 55 | 53 |
Stock-based compensation capitalized in internal-use software and website development costs | $50 | $27 |
The_Company_and_Summary_of_Sig
The Company and Summary of Significant Accounting Policies | 12 Months Ended | ||
Dec. 31, 2013 | |||
The Company and Summary of Significant Accounting Policies [Abstract] | ' | ||
The Company and Summary of Significant Accounting Policies | ' | ||
1. THE COMPANY AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | |||
Nature of operations | |||
ZipRealty, Inc. (the “Company”), was incorporated in California in January 1999 and reincorporated in Delaware in August 2004. The Company provides an online marketing and sales system for residential real estate professionals. The Company’s owned-and-operated brokerages, and the brokerage clients of its Powered by Zip business, offer brokerage services through their agents, utilizing this system, to buyers and sellers in residential real estate transactions. | |||
Principles of consolidation | |||
The accompanying consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries and reflect the elimination of intercompany accounts and transactions. | |||
Use of estimates | |||
The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. | |||
Net income (loss) per share | |||
Basic net income (loss) per share is computed by dividing the net income (loss) for the period by the weighted average number of shares of common stock outstanding during the period. Diluted income (loss) per share is computed by dividing net income (loss) for the period by the weighted average number of shares of common stock outstanding plus, if dilutive, potential common shares outstanding during the period. Potential common shares are composed of incremental shares of common stock issuable upon the exercise of potentially dilutive stock options, warrants and unvested restricted stock. | |||
Revenue recognition | |||
Revenue is recognized only when the price is fixed or determinable, persuasive evidence of an arrangement exists, the service has been delivered and collectability of the resulting receivable is reasonably assured. | |||
We derive the significant majority of our net revenues from commissions earned in our owned-and-operated residential real estate brokerage. We recognize this commission based revenue upon closing of a sale and purchase transaction, net of any rebate, commission discount or transaction fee adjustment. These transactions typically do not have multiple deliverable arrangements. | |||
We derive marketing and other revenues primarily from marketing agreements with residential mortgage service providers, the sale of online advertising, and other referral revenue including revenue from brokerages who are clients of our Powered by Zip business. Marketing service revenues are recognized over the term of the agreements as the contracted services are delivered. Advertising revenues on contracts are recognized as impressions are delivered or as clicks are provided to advertisers. Advertising and marketing contracts may consist of multiple deliverables which generally include a blend of various impressions or clicks as well as other marketing deliverables. Other referral revenues related to revenue sharing arrangements are recognized based on reports received from our partners, provided that collectability is reasonably assured. | |||
Cost of revenues | |||
Cost of revenues consists of agent and broker commissions and related costs. During the last half of the year ended December 31, 2010 and the first quarter of the year ended December 31, 2011, the Company converted its agent force from an employee model to an independent contractor model. Under the employee model, cost of revenues consisted principally of commissions, payroll taxes, benefits including health insurance, performance and tenure based award programs and agent expense reimbursements. Under the independent contractor model, cost of revenues consists principally of commissions and related costs. Agent commissions are generally paid on transaction revenues plus referral and other revenues generated by our agents. | |||
Cash and cash equivalents | |||
The Company considers all highly liquid investments with remaining maturities at the date of purchase of three months or less to be cash equivalents. At December 31, 2013 and 2012, $11,349,000 and $7,957,000, respectively, of money market funds, the fair value of which approximates cost, are included in cash and cash equivalents. | |||
Short-term investments | |||
The Company classifies fixed income securities with a maturity of over twelve months from the balance sheet date as short-term investments based on the funds being available for use in current operations, if needed. To date all fixed income securities have been classified as available-for-sale and carried at fair value, which is determined based on quoted market prices, with unrealized gains or losses, net of tax effects, included in accumulated other comprehensive income (loss) in the consolidated accompanying financial statements. Interest and amortization of premiums and accretion of discounts on fixed income securities are included in other income (expense), net, in the accompanying consolidated financial statements. Realized gains and losses are calculated using the specific identification method. | |||
Fair value of financial instruments | |||
The carrying amounts of the Company’s financial instruments, which include cash, cash equivalents, accounts receivable, restricted cash, accounts payable, accrued expenses and other current liabilities, approximate their fair values due to their short maturities. | |||
Concentration of credit risk, significant customers and significant suppliers | |||
Financial instruments that potentially subject the Company to a concentration of credit risk consist of cash, cash equivalents, short-term investments, accounts receivable and restricted cash. | |||
The Company deposits its cash, cash equivalents and short-term investments with financial institutions that management believes to be of high credit quality, and these deposits may on occasion exceed federally insured limits. At December 31, 2013, substantially all of the Company’s cash, cash equivalents, and short-term investments were managed, on behalf of the Company and, in accordance with its investment policy, by one financial institution. The fair values of these short-term investments are subject to fluctuations based on market prices. | |||
The Company’s accounts receivable are derived from commissions earned which are due from escrow and other residential real estate transfer agents and from non-commission revenues including marketing agreements, advertising, lead referrals and other revenue. These accounts receivable are typically unsecured. Allowances for doubtful accounts are provided for in the financial statements and have been within management’s expectations. No escrow or other transfer agent accounted for 10% or more of the accounts receivable at December 31, 2013 or 2012. | |||
The Company derived 42% and 42% of its net transaction revenues during the years ended December 31, 2013 and 2012, respectively, in the State of California. No customer accounted for more than 10% of net revenues in 2013 or 2012. | |||
The Company generates leads for its agents through many sources, including leads from third parties with which the Company has only non-exclusive, short-term agreements that are generally terminable on little or no notice and with no penalties. The cost of these leads is included in sales and marketing expenses. The Company’s largest third-party paid lead source, Google, generated approximately 30% and 33% of the Company’s leads in 2013 and 2012, respectively. Commission Junction, a competitor for online customer acquisition, generated 7% in 2013 and 12% in 2012, while HomeGain, Inc., also competitor for online customer acquisition, generated 8% in 2013 and less than 10% in 2012 of the Company’s leads. | |||
Property and equipment | |||
Property and equipment are stated at cost. Leasehold improvements are amortized on the straight-line basis over the shorter of the lease period or their estimated useful lives. Depreciation and amortization is computed using the straight-line method over the estimated useful lives of the property and equipment as follows: | |||
Computer hardware and software | 2 to 3 years | ||
Furniture, fixtures and equipment | 4 to 5 years | ||
Leasehold improvements | Shorter of the lease period or estimated useful life | ||
When assets are sold or retired, the cost and accumulated depreciation and amortization are eliminated from the accounts, and any resulting gains or losses are recorded in operations in the period realized. Maintenance and repairs are expensed as incurred. Expenditures that substantially increase an asset’s useful life or improve an asset’s functionality are capitalized. | |||
Leasehold improvements made by the Company and reimbursable by the landlord as tenant incentives are recorded by the Company as leasehold improvement assets and amortized over the shorter of the lease period or estimated useful life. The incentives from the landlord are recorded as deferred rent and amortized as reductions to rent expense over the lease term. Deferred rent of $50,000 and $50,000 was amortized as a reduction of rent expense in 2013 and 2012, respectively. At December 31, 2013 and 2012, the deferred rent balance attributable to these incentives totaled $179,000 and $229,000, respectively. | |||
Impairment of long-lived assets | |||
In accordance with the accounting guidance for the impairment or disposal of long-lived assets, the Company periodically evaluates the carrying value of long-lived assets to be held and used when events and circumstances warrant such a review. The carrying value of a long-lived asset is considered impaired when the anticipated undiscounted cash flow from such asset is less than its carrying value. In that event, a loss is recognized based on the amount by which the carrying value exceeds the fair value of the long-lived asset. Fair value is determined primarily using the anticipated cash flows discounted at a rate commensurate with the risk involved. Losses on long-lived assets to be disposed of are determined in a similar manner, except that fair values are reduced for the cost of disposal. Through December 31, 2013, the Company has not recorded any charges for impairment of long-lived assets. | |||
Stock-based compensation | |||
The Company follows the accounting guidance for share-based payments which requires the measurement and recognition of compensation expense for all stock-based payment awards made to employees, consultants and directors, including employee stock options and employee stock purchases, based on estimated fair values. Under the fair value recognition provisions of the accounting standards, stock-based compensation cost is estimated at the grant date based on the fair value of the awards expected to vest and recognized as expense using the straight-line method over the requisite service period of the award. | |||
The Company estimates the fair value of stock options using the Black-Scholes option pricing model, which incorporates various assumptions including volatility, expected life and interest rates. The expected volatility is based on the historical volatility of the Company’s common stock and consideration of other relevant factors such as the volatility assumptions of guideline companies. The expected life of options is estimated by taking the average of the vesting term and the contractual term of the option. The Company estimates expected forfeitures based on various factors including employee class and historical experience. The estimation of stock awards that will ultimately vest requires judgment, and to the extent actual results or updated estimates differ from our current estimates, such amounts will be recorded as a cumulative adjustment in the period the estimates are revised. | |||
Internal-use software and website development costs | |||
The Company accounts for its internal-use software and website development costs in accordance with the applicable accounting guidance. Costs incurred in the planning stage are expensed as incurred while costs incurred in the application and infrastructure stage are capitalized, assuming such costs are deemed to be recoverable. Costs incurred in the operating stage are expensed as incurred except for the costs of fees paid for cancelable maintenance contracts for internal-use software purchased from third-party vendors. The costs of these fees incurred during the operating phase are recognized on a ratable basis over the period of expected economic benefit, which generally coincides with the contractual service period. The planning stage ends when the functional specifications for a release are complete. Costs incurred relating to architecture design and coding that result in additional functionality are capitalized in the application and infrastructure stage. These costs principally relate to payroll costs for employees directly involved in the development process. Capitalized internal-use software costs, included in property and equipment, are amortized over the software’s useful life, which is generally estimated to be 24 months. Capitalized internal-use software and website development costs are amortized to product development. Costs incurred in connection with the research and development of the Company’s product and technology are expensed as incurred to product development. | |||
The Company capitalized $1,853,000 and $1,304,000 in internal-use software costs during the years ended December 31, 2013 and 2012, respectively. Amortization expense totaled $1,348,000 and $1,156,000 during the years ended December 31, 2013 and 2012, respectively. The amount of unamortized internal-use software costs at December 31, 2013 and 2012 was $1,881,000 and $1,329,000, respectively. | |||
Advertising costs | |||
The costs of advertising are expensed as incurred. Advertising expense was $29,000 and $181,000 for the years ended December 31, 2013 and 2012, respectively. Such expense is included in sales and marketing expense in the Company’s consolidated statements of operations. | |||
Income taxes | |||
Deferred tax assets and liabilities arise from the differences between the tax basis of an asset or liability and its reported amount in the financial statements as well as from net operating loss and tax credit carry forwards. The measurement of current and deferred tax assets and liabilities is based on provisions of enacted tax laws; the effects of future changes in tax laws or rates are not anticipated. Valuation allowances are established when necessary to reduce deferred tax assets to the amount expected to be realized. Income tax expense or benefit is the tax payable or refundable, respectively, for the period adjusted for the change during the period in deferred tax assets and liabilities. | |||
Comprehensive loss | |||
Comprehensive income (loss) is the sum of net income (loss) and unrealized gains (losses) on available-for-sale securities. Unrealized gains (losses) on investments are excluded from net income (loss) and are reported in accumulated other comprehensive income (loss) in the accompanying consolidated financial statements. | |||
Restructuring charges | |||
In connection with the Company’s cost reduction initiatives, it records restructuring charges for employee termination costs, costs related to leased facilities to be abandoned or subleased, fixed asset impairments and other exit-related costs. Formal plans are developed and approved by management. Restructuring costs related to employee severance and related expenses are recorded when probable and estimable. Fixed assets impaired as a result of restructuring are typically accounted for as assets held for sale or abandoned. The recognition of restructuring charges requires the Company to make judgments and estimates regarding the nature, timing, and costs associated with the planned restructuring activity, including estimating sublease income and the fair value, less selling costs, of fixed assets being disposed of. Estimates of future liabilities may change, requiring the Company to record additional restructuring charges or to reduce or reverse the amount of liabilities already recorded. At the end of each reporting period, management evaluates the remaining accrued liabilities to ensure their adequacy, that no excess accruals are retained and that the utilization of the provisions is for the intended purpose in accordance with the approved restructuring plan. In the event circumstances change and the provision is no longer required, the provision is reversed. | |||
Litigation settlement charges | |||
The Company is involved in legal proceedings on an ongoing basis. Based upon management’s evaluation and consultation with outside counsel handling its defense in these matters and an analysis of potential results, losses related to litigation are accrued if it is determined that a loss is probable and can be it reasonably estimated. If only a range of estimated losses can be determined, then we record an amount within the range that, in our judgment, reflects the most likely outcome; if none of the estimates within that range is a better estimate than any other amount, we record the low end of the range. Any such accrual is charged to expense in the appropriate period. The Company records litigation defense expenses in the period in which the litigation services were provided and are included in the general and administrative line of the consolidated statements of operations. | |||
Segment reporting | |||
Under the accounting standards for reporting information about operating segments in a company’s financial statements, operating segments are defined as components of an enterprise about which separate financial information is available that is evaluated regularly by the chief operating decision maker (the Company’s Chief Executive Officer), or decision making group, in deciding how to allocate resources and in assessing performance. The Company operates as one segment and in one geographic area, the United States of America. | |||
Recent accounting pronouncements | |||
In July 2013, the Financial Accounting Standards Board (“FASB”) issued guidance on the presentation of certain unrecognized tax benefits in the financial statements. This guidance provides that a liability related to an unrecognized tax benefit must be offset against a deferred tax asset for a net operating loss carryforward, a similar tax loss or a tax credit carryforward if such settlement is required or expected in the event the uncertain tax position is disallowed. This guidance is effective for interim and annual reporting periods beginning after December 15, 2013, with earlier adoption permitted, and may be applied prospectively or retrospectively. We expect to adopt this guidance on January 1, 2014. The adoption of this guidance is not expected to have a significant impact on our financial position, results of operations or cash flows, as we have provided a full valuation allowance against our net deferred tax assets. | |||
In February 2013, the FASB issued guidance on the reporting of amounts reclassified out of accumulated other comprehensive income. An entity must report the effect of significant reclassifications out of accumulated other comprehensive income on the respective line items in net income if the amount being reclassified is required under GAAP to be reclassified in its entirety to net income. For other amounts that are not required under GAAP to be reclassified in their entirety to net income in the same reporting period, an entity is required to cross-reference other disclosures required under GAAP that provide additional detail about those amounts. This guidance is effective for interim and annual reporting periods beginning after December 15, 2012, with earlier adoption permitted, and must be applied prospectively. We adopted this guidance on January 1, 2013. The adoption of this guidance did not have any impact on our financial position, results of operations or cash flows. | |||
Balance_Sheet_Components
Balance Sheet Components | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Balance Sheet Components [Abstract] | ' | ||||||||
Balance Sheet Components | ' | ||||||||
2. BALANCE SHEET COMPONENTS | |||||||||
Restricted cash | |||||||||
The Company’s restricted cash balance at December 31, 2013 was $210,000 which serves as collateral to a commercial card agreement of $50,000 and a letter of credit issued as a security deposit in connection with a facility lease agreement of $160,000. The letter of credit expires in July 2017. The restricted cash balance at December 31, 2012 was $500,000 which served as collateral to a commercial card agreement of $300,000 and a letter of credit issued as a security deposit in connection with a facility lease agreement of $200,000. | |||||||||
Property and equipment, net | |||||||||
Property and equipment, net consisted of the following: | |||||||||
Year Ended December 31, | |||||||||
2013 | 2012 | ||||||||
(In thousands) | |||||||||
Computer hardware and software | $ | 11,341 | $ | 9,095 | |||||
Furniture, fixture and equipment | 1,944 | 1,938 | |||||||
Leasehold improvements | 1,956 | 1,656 | |||||||
15,241 | 12,689 | ||||||||
Less: accumulated depreciation and amortization | -12,099 | -10,302 | |||||||
Property and equipment, net | $ | 3,142 | $ | 2,387 | |||||
Depreciation and amortization expense for the years ended December 31, 2013 and 2012 was approximately $1,947,000 and $1,807,000, respectively. | |||||||||
Included in property and equipment at December 31, 2013 and 2012 is approximately $9,954,000 and $7,789,266, respectively, of fully depreciated property and equipment still in use. | |||||||||
Accrued expenses and other current liabilities | |||||||||
Accrued expenses and other current liabilities consisted of the following: | |||||||||
Year Ended December 31, | |||||||||
2013 | 2012 | ||||||||
(In thousands) | |||||||||
Accrued compensation | $ | 1,606 | $ | 1,073 | |||||
Accrued agent commissions | 959 | 1,423 | |||||||
Accrued marketing | 861 | 863 | |||||||
Accrued litigation settlement | 1,909 | 227 | |||||||
Accrued professional fees | 164 | 188 | |||||||
Other accrued expenses | 672 | 519 | |||||||
$ | 6,171 | $ | 4,293 | ||||||
Other long-term liabilities | |||||||||
Other long-term liabilities consisted of the following: | |||||||||
Year Ended December 31, | |||||||||
2013 | 2012 | ||||||||
(In thousands) | |||||||||
Deferred rent | $ | 556 | $ | 592 | |||||
Accrued restructuring | 24 | - | |||||||
Other long-term liabilities | 6 | - | |||||||
$ | 586 | $ | 592 | ||||||
Fair_Value_Measurements
Fair Value Measurements | 12 Months Ended | |||||||||||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||||||||||
Fair Value Measurements [Abstract] | ' | |||||||||||||||||||||||||||||||
Fair Value Measurements | ' | |||||||||||||||||||||||||||||||
3. FAIR VALUE MEASUREMENTS | ||||||||||||||||||||||||||||||||
Fair value measurements | ||||||||||||||||||||||||||||||||
The Company follows the fair value hierarchy, established by the accounting standard related to fair value measurement, to prioritize the inputs used in valuation techniques. There are three broad levels to the fair value hierarchy of inputs to fair value. Level 1 is the highest priority and Level 3 is the lowest priority. The levels are as follows: | ||||||||||||||||||||||||||||||||
• | Level 1: Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities; | |||||||||||||||||||||||||||||||
• | Level 2: Quoted prices in markets that are not active, or inputs which are observable, either directly or indirectly, for substantially the full term of the asset or liability; | |||||||||||||||||||||||||||||||
• | Level 3: Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (i.e., supported by little or no market activity). | |||||||||||||||||||||||||||||||
The Company measures and reports certain financial assets at fair value on a recurring basis, including its investments in money market funds and available-for-sale securities. At December 31, 2013 and 2012, there were no liabilities within the scope of the accounting standards. The fair values of the Company’s Level 1 financial assets are based on quoted market prices of the identical underlying security. The Company utilizes a pricing service to assist in obtaining fair value pricing for the majority of this investment portfolio. | ||||||||||||||||||||||||||||||||
At December 31, 2013 and 2012, the Company’s cash and cash equivalents, measured at fair value on a recurring basis, by level within the fair value hierarchy were as follows: | ||||||||||||||||||||||||||||||||
Year Ended December 31, 2013 | Year Ended December 31, 2012 | |||||||||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||||||||||
(In thousands) | (In thousands) | |||||||||||||||||||||||||||||||
Money Market funds | $ | 11,349 | $ | - | $ | - | $ | 11,349 | $ | 7,957 | $ | - | $ | - | $ | 7,957 | ||||||||||||||||
Total | $ | 11,349 | $ | - | $ | - | $ | 11,349 | $ | 7,957 | $ | - | $ | - | $ | 7,957 | ||||||||||||||||
Net_Income_Loss_Per_Share
Net Income (Loss) Per Share | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Net Income (Loss) Per Share [Abstract] | ' | |||||||
Net Income (Loss) Per Share | ' | |||||||
4. NET (LOSS) PER SHARE | ||||||||
The following table sets forth the computation of basic and dilutive net income (loss) per share for the periods indicated: | ||||||||
Year Ended December 31, | ||||||||
2013 | 2012 | |||||||
(In thousands, except per share amounts) | ||||||||
Numerator: | ||||||||
Net loss | $ | -5,436 | $ | -9,678 | ||||
Denominator: | ||||||||
Weighted average common shares outstanding; basic and diluted | 21,071 | 20,641 | ||||||
Net loss per share; basic and diluted: | $ | -0.26 | $ | -0.47 | ||||
The following weighted-average outstanding options and non-vested common shares were excluded in the computation of diluted net loss per share for the periods presented because including them would be anti-dilutive: | ||||||||
Year Ended December 31, | ||||||||
2013 | 2012 | |||||||
(In thousands) | ||||||||
Options to purchase common stock | 5,479 | 4,809 | ||||||
Nonvested common stock | 44 | 20 | ||||||
Total | 5,523 | 4,829 | ||||||
Income_Taxes
Income Taxes | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Income Taxes [Abstract] | ' | |||||||
Income Taxes | ' | |||||||
5. INCOME TAXES | ||||||||
The components of the provision for income taxes are as follows: | ||||||||
Year Ended December 31, | ||||||||
2013 | 2012 | |||||||
(In thousands) | ||||||||
Current: | ||||||||
Federal | $ | - | $ | - | ||||
State | 59 | 106 | ||||||
59 | 106 | |||||||
Deferred: | ||||||||
Federal | - | - | ||||||
State | - | - | ||||||
- | - | |||||||
Total provision for income taxes | $ | 59 | $ | 106 | ||||
The tax provision expense for the year ended December 31, 2013 and 2012 related to Texas state income taxes. The Company incurred operating losses during 2013 and has maintained a valuation allowance equal to the net deferred tax asset. | ||||||||
The difference between the Company’s effective income tax rate and federal statutory rate consisted of the following: | ||||||||
Year Ended December 31, | ||||||||
2013 | 2012 | |||||||
Statutory federal tax rate | 34.00% | 34.00% | ||||||
State tax rate, net of federal benefit | -1.10% | -1.10% | ||||||
Federal NOL carryback | 0.00% | 0.00% | ||||||
Stock options | -2.72% | -0.97% | ||||||
Change in valuation allowance | -31.38% | -33.01% | ||||||
Other, net | 0.10% | -0.02% | ||||||
Total | -1.10% | -1.10% | ||||||
Deferred tax assets consist of the following at: | ||||||||
Year Ended December 31, | ||||||||
2013 | 2012 | |||||||
(In thousands) | ||||||||
Deferred tax assets: | ||||||||
Net operating loss carryforward | $ | 39,074 | $ | 37,664 | ||||
Stock-based compensation | 3,117 | 3,580 | ||||||
Fixed assets and intangibles | 783 | 1,043 | ||||||
Allowance and accruals | 1,397 | 804 | ||||||
Credits | 23 | 23 | ||||||
Total gross deferred tax assets | 44,394 | 43,114 | ||||||
Less: valuation allowance | -44,394 | -43,114 | ||||||
Net deferred tax assets | $ | - | $ | - | ||||
The Company maintains that a full valuation allowance should be accounted for against its net deferred tax assets at December 31, 2013 and 2012. The Company supports the need for a valuation allowance against the deferred tax assets due to negative evidence including cumulative losses in recent years and management’s expectations for the future. | ||||||||
At December 31, 2013, the Company had approximately $113.7 million of federal and $81.8 million of state net operating loss carryforwards available to reduce future taxable income, which will begin to expire in 2019 for federal and 2014 for state tax purposes, respectively. | ||||||||
Approximately $5.4 million and $5.4 million of net operating loss carryforwards for federal and state income tax purposes, respectively, are attributable to employee stock option deductions, the benefit from which will be allocated to paid-in-capital rather than current income when subsequently recognized. | ||||||||
Federal and state tax laws impose substantial restrictions on the utilization of net operating loss and credit carryforwards in the event of an “ownership change” for tax purposes, as defined in Section 382 of the Internal Revenue Code. If an ownership change has occurred, utilization of the net operating loss carryforwards could be reduced significantly. | ||||||||
The Company does not have any material accrued interest or penalties associated with any unrecognized tax benefits. The Company will account for any interest related to uncertain tax positions as interest expense, and for penalties as tax expense. The Company does not believe it is reasonably possible that its unrecognized tax benefits will significantly change within the next twelve months. There were no material changes in the amount of unrecognized tax benefits as of December 31, 2013. The Company is subject to taxation from the United States and various state jurisdictions. Due to the unutilized losses carried forward from earlier years, our tax years 1999-2003 and 2006-2013 are generally open to exam. | ||||||||
Commitments_and_Contingencies
Commitments and Contingencies | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Commitments and Contingencies [Abstract] | ' | |||||||||||
Commitments and Contingencies | ' | |||||||||||
6. COMMITMENTS AND CONTINGENCIES | ||||||||||||
Operating leases | ||||||||||||
The Company leases office space and equipment under non-cancelable operating leases with various expiration dates through February 2019. The terms of the lease agreements provide for renewal options and escalation clauses. The Company amended the operating lease for its headquarters during July 2011, which extends the previous lease term through July 2017. Future gross and net lease commitments under non-cancelable operating leases at December 31, 2013 were as follows, in thousands: | ||||||||||||
Gross | ||||||||||||
Operating | Net Operating | |||||||||||
Lease | Sublease | Lease | ||||||||||
Commitments | Income | Commitments | ||||||||||
(In thousands) | ||||||||||||
Year ending December 31, | ||||||||||||
2014 | $ | 1,723 | $ | -41 | $ | 1,682 | ||||||
2015 | 1,520 | -43 | 1,477 | |||||||||
2016 | 1,286 | -44 | 1,242 | |||||||||
2017 | 733 | -34 | 699 | |||||||||
2018 | 233 | - | 233 | |||||||||
2019 | 12 | |||||||||||
Total minimum lease payments | $ | 5,507 | $ | -162 | $ | 5,333 | ||||||
Rent expense for the years ended December 31, 2013 and 2012 was approximately $1,843,000 and $2,007,000, respectively. | ||||||||||||
Legal proceedings | ||||||||||||
On September 26, 2011, the Division of Labor Standard Enforcement, Department of Industrial Relations, State of California (the “DLSE”) filed a lawsuit against the Company in the Superior Court of California, Alameda County, State Labor Commissioner, etc., v. ZipRealty, Inc. The complaint concerned the Company’s compensation practices regarding real estate agents in California, who at the time at issue were classified as employees. Specifically, the complaint alleged that the Company failed to pay these persons minimum wage and overtime, and failed to provide itemized wage statements, as required by California laws. In addition to wages and overtime, the complaint seeks liquidated damages, for a total claim in excess of $17 million. On September 28, 2012, the Company entered into a settlement Agreement and General Release (the “Agreement”) with the DLSE concerning the complaint. Pursuant to the Agreement the Company paid $0.2 million to the DLSE for attorneys’ fees and costs, and $4.8 million into a trust for disbursement to former employees as back wages. The Company will pay the employer’s share of F.I.C.A. taxes and other employer tax responsibilities on back wages as they are distributed to former employees, as well as the administrative costs of the claims administrator for the trust, which totaled $0.8 million in 2012 and $0.1 million in 2013, and which could total less than $0.1 million in additional expense if all remaining former employee claimants participate. A liability and corresponding expense for this additional amount of less than $0.1 million of employer taxes and administrative fees has not been reflected within the balance sheet because an estimate of the ultimate liability for payment of these payroll taxes cannot be reasonably determined. Disbursements to former employees are subject to their execution of a release claim against the Company. The Agreement also includes a full release by the DLSE from further liability on this issue. On October 12, 2012, the Court dismissed the entire action, with prejudice, against the defendants. | ||||||||||||
On March 26, 2010, the Company was named as one of fourteen defendants in a lawsuit filed in the United States District Court for the District of Delaware, Smarter Agent LLC v. Boopsie, Inc., et al. The complaint alleges that the defendants have each infringed on patents owned by Smarter Agent relating to mobile device application technology and seeks unspecified damages and injunctive relief. The US Patent Office is currently examining the patent issue, and litigation is stayed pending the completion of that investigation. After completing investigation of this matter, the Company does not believe that it has infringed on any patent, or that it has any liability for the claims alleged, and, thus, it intends to vigorously defend against this lawsuit. No estimate of possible loss, if any, can be made at this time. | ||||||||||||
On February 17, 2012, two real estate sales agents formerly employed by the Company, on behalf of themselves and all other similarly situated individuals, filed a lawsuit against us in the United States District Court, District of Arizona, Patricia Anderson and James Kwasiborski v. ZipRealty, Inc. The complaint concerns the Company’s compensation practices nationwide regarding its real estate agents, who at the time at issue were classified as employees. Specifically, the complaint alleges that the Company failed to pay these persons minimum wage and overtime as required by federal law. The complaint seeks liquidated and treble damages in addition to wages and overtime for an unspecified amount. On December 23, 2013, the Company reached a preliminary settlement for $1.7 million to resolve both the federal and state law claims. The Company will also be responsible for payment of the employer’s share of F.I.C.A. taxes and other employer taxes for the back wages which total approximately $0.2 million. A liability and corresponding expense for the $1.7 million preliminary settlement and $0.2 million for associated employer’s share of F.I.C.A. taxes and other employer taxes is included in litigation settlement charges in the Company’s Statement of Operations for the year ended December 31, 2013 because a loss is both probable and reasonably estimable. The settlement, which has been agreed to by the parties, is subject to court approval. | ||||||||||||
On January 11, 2013, the Company was named as a defendant in a lawsuit filed in the United States District Court for the Eastern District of Texas, Arczar LLC v. ZipRealty, Inc. The complaint alleges that the Company’s mobile device application has infringed on a patent owned by Arczar relating to computer vision system technology and seeks unspecified damages and other equitable relief. Effective July 24, 2013, the Company entered into a Settlement and License Agreement with Arczar that resulted in a dismissal of the lawsuit with prejudice and the Company’s purchase of a perpetual license to Arczar’s patents. | ||||||||||||
The Company is not currently subject to any other material legal proceedings. From time to time the Company has been, and it currently is, a party to litigation and subject to claims incident to the ordinary course of the business. The amounts in dispute in these matters are not material to the Company, and management believes that the resolution of these proceedings will not have a material adverse effect on its consolidated financial position, results of operations or cash flows. A reasonably possible loss in excess of amounts accrued is not significant to the financial statements. | ||||||||||||
Indemnifications | ||||||||||||
The Company has entered into various indemnification agreements in the ordinary course of our business. Pursuant to these agreements, the Company has agreed to indemnify, hold harmless and reimburse the indemnified parties, which include certain of our service providers as well as others, in connection with certain occurrences. In addition, the corporate charter documents require the Company to provide indemnification rights to the Company’s directors and officers to the fullest extent permitted by the Delaware General Corporation Law, and permit the Company to provide indemnification rights to our other employees and agents, for certain events that occur while these persons are serving in these capacities. The Company’s charter documents also protect each of its directors, to the fullest extent permitted by the Delaware General Corporation Law, from personal liability to the Company and its stockholders from monetary damages for a breach of fiduciary duty as a director. The Company has also entered into indemnification agreements with the Company’s directors and each of our officers with a title of Vice President or higher. | ||||||||||||
The maximum potential amount of future payments the Company could be required to make under these indemnification agreements is unspecified. The Company is not aware of any material indemnification liabilities for actions, events or occurrences that have occurred to date. The Company maintains insurance on some of the liabilities the Company has agreed to indemnify, including liabilities incurred by the Company’s directors and officers while acting in these capacities, subject to certain exclusions and limitations of coverage. | ||||||||||||
Stockholders_Equity
Stockholders' Equity | 12 Months Ended |
Dec. 31, 2013 | |
Stockholders' Equity [Abstract] | ' |
Stockholders' Equity | ' |
7. STOCKHOLDERS’ EQUITY | |
Preferred Stock | |
The Company’s Certificate of Incorporation authorizes 5,000,000 shares of preferred stock, $0.001 par value. At December 31, 2013 and 2012, there were no shares issued or outstanding. | |
Common Stock | |
The Company’s Certificate of Incorporation authorizes 100,000,000 shares of common stock, $0.001 par value. At December 31, 2013 and 2012, there were 25,262,791 and 24,302,749 shares issued and 21,647,098 and 20,692,558 shares outstanding, respectively. | |
Treasury Stock | |
During the years ended December 31, 2013 and 2012, the Company repurchased approximately 5,000 and 5,000 shares of its common stock for approximately $32,000 and $7,000, respectively, to cover tax withholding obligations. These shares were repurchased in connection with the net share settlement provision of its Restricted Stock Award Agreements upon the vesting of restricted stock during the periods. During the years ended December 31, 2013 and 2012, there were approximately 0 and 3,000 shares, respectively, of restricted stock forfeited and transferred to treasury stock. | |
StockBased_Compensation
Stock-Based Compensation | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Stock-Based Compensation [Abstract] | ' | |||||||||||||||
Stock-Based Compensation | ' | |||||||||||||||
8. STOCK-BASED COMPENSATION | ||||||||||||||||
Stock Option Plans | ||||||||||||||||
The Company maintains two Board of Directors (“BOD”) approved stock plans, the 1999 Stock Option Plan (“1999 Plan”) and the 2004 Equity Incentive Plan (“2004 Plan”), both of which are collectively referred to as the “Stock Plans.” The Stock Plans provide for the granting of stock options to employees and consultants of the Company. Options granted under the Stock Plans may be either incentive stock options or nonstatutory stock options. Incentive stock options (“ISO”) may be granted only to Company employees (including officers and directors who are also employees). Nonstatutory stock options (“NSO”) may be granted to Company employees and consultants. Following the Company’s initial public offering, any shares that were reserved but not issued under the 1999 Plan were made available under the 2004 Plan, and any shares that would have otherwise returned to the 1999 Plan are made available for issuance under the 2004 Plan. The Company has reserved approximately 2,939,000 shares of common stock for future issuance under the Stock Plans. The 2004 Plan contains an “evergreen” provision that automatically increases, on each January 1, the number of shares reserved for issuance equal to the least of (a) 1,666,666 shares, (b) 4% of the outstanding shares on such date, or (c) an amount determined by the BOD. The 2004 Equity Incentive Plan also allows for the issuance of restricted stock. The restricted stock awards have the voting rights of common stock and the shares underlying the restricted stock awards are considered issued and outstanding. | ||||||||||||||||
Options under the Stock Plans may be granted at prices no less than 85% of the estimated fair value of the shares on the date of grant as determined by the BOD, provided, however, that (i) the exercise price of an ISO and NSO shall not be less than 100% and 85% of the estimated fair value of the shares on the date of grant, respectively, and (ii) the exercise price of an ISO and NSO granted to a 10% stockholder shall not be less than 110% of the estimated fair value of the shares on the date of grant. Options generally vest 25% after the first year of service and ratably each month over the remaining 36 month period contingent upon employment with the Company on the date of vest. Options are generally granted for a term of ten years. | ||||||||||||||||
Other Stock Options | ||||||||||||||||
The BOD approved the registration of 325,000 shares of common stock underlying an option issued outside the Company’s Stock Plans in December 2008. These nonstatutory stock options (“NSO”) were granted in connection with employment of an executive with the Company and vested 25% after the first year of service and ratably each month over the remaining 36 month period. This option was granted for a term of ten years. | ||||||||||||||||
Valuation Assumptions and Stock-based Compensation Expense | ||||||||||||||||
The Company estimates the fair value of stock options on the day of grant using the Black-Scholes option pricing model, which incorporates various assumptions including volatility, expected life and interest rates. The expected volatility was based on the historical volatility of the Company’s common stock for the years ended December 31, 2013 and 2012. The expected life of options granted during the years ended December 31, 2013 and 2012 was estimated using the simplified method by taking the average of the vesting term and the contractual term of the option as provided by the applicable accounting guidance. The simplified method was used because of significant structural changes in the Company’s business associated with past restructuring activities such that its historical exercise data does not provide a reasonable basis upon which to estimate the expected term. | ||||||||||||||||
The assumptions used and the resulting estimates of weighted average fair value per share of options granted were as follows: | ||||||||||||||||
Year Ended December 31, | ||||||||||||||||
2013 | 2012 | |||||||||||||||
Expected volatility | 51-52% | 49-51% | ||||||||||||||
Risk-free interest rate | 1.0-1.3% | 0.7-1.2% | ||||||||||||||
Expected life (years) | 5.5-6.1 | 5.5-6.1 | ||||||||||||||
Expected dividend yield | 0% | 0% | ||||||||||||||
Weighted-average fair value of options granted during the period | $1.76 | $0.66 | ||||||||||||||
Stock-based compensation expense was as follows: | ||||||||||||||||
Year Ended December 31, | ||||||||||||||||
2013 | 2012 | |||||||||||||||
(In thousands) | ||||||||||||||||
Cost of revenues | $ | 253 | $ | 156 | ||||||||||||
Product development | 105 | 73 | ||||||||||||||
Sales and marketing | 370 | 197 | ||||||||||||||
General and administrative | 683 | 673 | ||||||||||||||
Restructuring charges, net | - | 80 | ||||||||||||||
Total stock-based compensation expense | 1,411 | 1,179 | ||||||||||||||
Tax effect on stock-based compensation expense | - | - | ||||||||||||||
Net effect on net loss | $ | 1,411 | $ | 1,179 | ||||||||||||
The Company recognized approximately $80,000 of stock-based compensation expense for the year ended December 31, 2012 for stock option modifications in connection with the departure of the Company’s former Chief Financial Officer in 2012. | ||||||||||||||||
The accounting guidance requires that forfeitures be estimated at the time of grant and revised, if necessary in subsequent periods if actual forfeitures differ from those estimates. The Company estimated expected forfeitures based on various factors including employee class and historical experience. The amount of stock-based compensation expense has been reduced for estimated forfeitures. As of December 31, 2013, there was $2.7 million of unrecorded total stock-based compensation, after estimated forfeitures, related to unvested stock options. That cost is expected to be recognized over a weighted average remaining period of 2.6 years. As of December 31, 2013, there was $27,000 of unrecorded stock-based compensation related to unvested restricted stock. That cost is expected to be recognized over a weighted average remaining period of 0.3 years. | ||||||||||||||||
Stock Option Activity | ||||||||||||||||
A summary of the Company’s stock option activity for the periods indicated is as follows: | ||||||||||||||||
Weighted | ||||||||||||||||
Weighted | Average | |||||||||||||||
Average | Remaining | Aggregate | ||||||||||||||
Number of | Exercise | Contractual | Intrinsic | |||||||||||||
Shares | Price | Life ( Years) | Value | |||||||||||||
(In thousands) | ||||||||||||||||
Outstanding at December 31, 2011 | 4,163 | 3.87 | 6.01 | 20 | ||||||||||||
Options granted | 1,767 | 1.41 | ||||||||||||||
Options exercised | -120 | 1.20 | ||||||||||||||
Options forfeited/cancelled/expired | -713 | 3.30 | ||||||||||||||
Outstanding at December 31, 2012 | 5,097 | 3.16 | 6.15 | 2,614 | ||||||||||||
Options granted | 1,277 | 3.57 | ||||||||||||||
Options exercised | -930 | 3.00 | ||||||||||||||
Options forfeited/cancelled/expired | -363 | 5.07 | ||||||||||||||
Outstanding at December 31, 2013 | 5,081 | $ | 3.16 | 7.05 | $ | 13,412 | ||||||||||
Vested and expected to vest at December 31, 2013 | 4,966 | $ | 3.16 | 7.00 | $ | 13,113 | ||||||||||
Exercisable at December 31, 2013 | 2,894 | $ | 3.43 | 5.76 | $ | 7,293 | ||||||||||
Aggregate intrinsic value represents the difference between the Company’s closing stock price on the last trading day of the fiscal period, which was $5.60 on December 31, 2013, and the exercise price for the options that were in-the-money at December 31, 2013. The total number of in-the-money options exercisable as of December 31, 2013 was 2,556,000. Total intrinsic value of options exercised was $1,436,000 and $70,000 for the years ended December 31, 2013 and 2012, respectively. | ||||||||||||||||
The Company settles employee stock option exercises with newly issued common shares. | ||||||||||||||||
Restricted Stock | ||||||||||||||||
The Company expenses the cost of restricted stock awards, which is determined to be the fair market value of the shares at the date of grant, ratably over the period during which the restriction lapse. Restricted stock awards generally vest in 24 months or less, contingent upon employment with the Company on the date of vest. Stock-based compensation expense related to restricted stock for the years ended December 31, 2013 and 2012 was $103,000 and $(1,000), respectively. | ||||||||||||||||
A summary of the Company’s nonvested restricted stock for the periods indicated is as follows: | ||||||||||||||||
Weighted | ||||||||||||||||
Average Grant | ||||||||||||||||
Number of | Date Fair value | |||||||||||||||
Shares | Per Share | |||||||||||||||
(In thousands) | ||||||||||||||||
Nonvested at December 31, 2011 | 23 | 4.90 | ||||||||||||||
Shares granted | 15 | 2.87 | ||||||||||||||
Shares vested | -21 | 4.90 | ||||||||||||||
Shares forfeited | -2 | 4.90 | ||||||||||||||
Nonvested at December 31, 2012 | 15 | 2.87 | ||||||||||||||
Shares granted | 30 | 3.00 | ||||||||||||||
Shares vested | -15 | 2.87 | ||||||||||||||
Shares forfeited | - | - | ||||||||||||||
Nonvested at December 31, 2013 | 30 | $ | 3.00 | |||||||||||||
Employee_Benefit_Plan
Employee Benefit Plan | 12 Months Ended |
Dec. 31, 2013 | |
Employee Benefit Plan [Abstract] | ' |
Employee Benefit Plan | ' |
9. EMPLOYEE BENEFIT PLAN | |
The Company has a 401(k) profit sharing plan covering all eligible employees. Employees may contribute amounts ranging from 1% to 50% of their annual salary, up to the maximum statutory amount. The Company is not required to contribute to the plan, however, beginning January 1, 2006 the Company elected to match 25% of the first employee contributions to the plan of up to 4% of pay. For the years ended December 31, 2013 and 2012, the Company contributed $63,000 and $67,000, respectively, and such amounts are included as an expense in the Company’s consolidated statements of operations in the associated employees’ functional department. | |
Restructuring_Charges_Net
Restructuring Charges, Net | 12 Months Ended | |||||||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||||||
Restructuring Charges, Net [Abstract] | ' | |||||||||||||||||||||||||||
Restructuring Charges, Net | ' | |||||||||||||||||||||||||||
10. RESTRUCTURING CHARGES | ||||||||||||||||||||||||||||
During January 2011 and 2012, the Company implemented cost reduction initiatives, including closing brokerage operations in selected underperforming markets and a workforce reduction in sales support and administration functions. The associated restructuring charges include employee severance pay and related expenses, non-cancelable lease obligations and other exit costs. For the years ended December 31, 2013 and 2012, restructuring charges were comprised of the following: | ||||||||||||||||||||||||||||
Year Ended December 31, | ||||||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||
Employee severance and related expenses | $ | 54 | $ | 1,611 | ||||||||||||||||||||||||
Lease obligations and other exit costs | -21 | 75 | ||||||||||||||||||||||||||
Non-cash charges | - | -80 | ||||||||||||||||||||||||||
Total | $ | 33 | $ | 1,606 | ||||||||||||||||||||||||
The activity accrued restructuring charges for the year ended December 31, 2013 was as follows: | ||||||||||||||||||||||||||||
Balance as of December 31, | Non-cash | Balance as of December 31, | Total Charges to date as of December 31, | |||||||||||||||||||||||||
2012 | Charges | Payments | Adjustment | 2013 | 2013 | |||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||
2012 Restructuring Plan | ||||||||||||||||||||||||||||
Employee severance and related expenses | $ | 27 | $ | 54 | $ | -81 | $ | - | $ | - | $ | 1,585 | ||||||||||||||||
Lease obligation and other exit costs | 44 | - | -24 | - | 20 | 75 | ||||||||||||||||||||||
71 | 54 | -105 | - | 20 | 1,660 | |||||||||||||||||||||||
2011 Restructuring Plan | ||||||||||||||||||||||||||||
Employee severance and related expenses | - | - | - | - | - | 1,452 | ||||||||||||||||||||||
Lease obligation and other exit costs | 150 | -21 | -81 | - | 48 | 808 | ||||||||||||||||||||||
Non-cash charges | - | - | - | 59 | ||||||||||||||||||||||||
150 | -21 | -81 | - | 48 | 2,319 | |||||||||||||||||||||||
Total | $ | 221 | $ | 33 | $ | -186 | $ | - | $ | 68 | $ | 3,979 | ||||||||||||||||
The activity accrued restructuring charges for the year ended December 31, 2012 was as follows: | ||||||||||||||||||||||||||||
Balance as of December 31, | Non-cash | Balance as of December 31, | Total Charges to date as of December 31, | |||||||||||||||||||||||||
2011 | Charges | Payments | Adjustment | 2012 | 2012 | |||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||
2012 Restructuring Plan | ||||||||||||||||||||||||||||
Employee severance and related expenses | $ | - | $ | 1,595 | $ | -1,488 | $ | -80 | $ | 27 | $ | 1,531 | ||||||||||||||||
Lease obligation and other exit costs | - | 90 | -109 | 63 | 44 | 75 | ||||||||||||||||||||||
- | 1,685 | -1,597 | -17 | 71 | 1,606 | |||||||||||||||||||||||
2011 Restructuring Plan | ||||||||||||||||||||||||||||
Employee severance and related expenses | 39 | 1 | -40 | - | - | 1,450 | ||||||||||||||||||||||
Lease obligation and other exit costs | 377 | - | -224 | -3 | 150 | 830 | ||||||||||||||||||||||
Non-cash adjustments | - | - | - | - | - | 59 | ||||||||||||||||||||||
416 | 1 | -264 | -3 | 150 | 2,339 | |||||||||||||||||||||||
Total | $ | 416 | $ | 1,686 | $ | -1,861 | $ | -20 | $ | 221 | $ | 3,945 | ||||||||||||||||
Accrued restructuring charges as of December 31, 2013 and 2012 relates primarily to non-cancelable lease obligations and related facility costs which the Company expects to pay over the remaining terms of the obligations, which extend to 2016. Accrued restructuring charges were included in the Company’s consolidated balance sheet as follows: | ||||||||||||||||||||||||||||
Year Ended December 31, | ||||||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||
Accrued restructuring charges (current liabilities) | $ | 44 | $ | 221 | ||||||||||||||||||||||||
Other long-term liabilities | 24 | - | ||||||||||||||||||||||||||
Total accrued restructuring charges | $ | 68 | $ | 221 | ||||||||||||||||||||||||
Unaudited_Quarterly_Financial_
Unaudited Quarterly Financial Data | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Unaudited Quarterly Financial Data [Abstract] | ' | |||||||||||||||
Unaudited Quarterly Financial Data | ' | |||||||||||||||
11. UNAUDITED QUARTERLY FINANCIAL DATA | ||||||||||||||||
The following table sets forth our selected unaudited quarterly operating information for each of the eight quarters ended December 31, 2013. This information has been prepared on the same basis as the audited financial statements contained in this report and includes all normal recurring adjustments necessary for the fair statement of the information for the periods presented, when read together with our financial statements and related notes. Our future operating results are difficult to predict and may vary significantly. Results for any fiscal quarter are not necessarily indicative of results for the full year or for any future quarter. | ||||||||||||||||
Fourth | Third | Second | First | |||||||||||||
Quarter | Quarter | Quarter | Quarter | |||||||||||||
(In thousands) | ||||||||||||||||
Year ended December 31, 2013 | ||||||||||||||||
Net revenue | $ | 16,980 | $ | 21,816 | $ | 21,665 | $ | 15,392 | ||||||||
Cost of revenue | 9,837 | 12,742 | 12,392 | 8,703 | ||||||||||||
Income (loss) from operations | -3,675 | 104 | 342 | -2,154 | ||||||||||||
Net income (loss) | -3,686 | 94 | 324 | -2,168 | ||||||||||||
Net income (loss) per share: | ||||||||||||||||
Basic | $ | -0.17 | $ | - | $ | 0.02 | $ | -0.1 | ||||||||
Diluted | $ | -0.17 | $ | - | $ | 0.01 | $ | -0.1 | ||||||||
Weighted average common shares | ||||||||||||||||
outstanding: | ||||||||||||||||
Basic | 21,569 | 21,114 | 20,830 | 20,735 | ||||||||||||
Diluted | 21,569 | 22,492 | 21,700 | 20,735 | ||||||||||||
Fourth | Third | Second | First | |||||||||||||
Quarter | Quarter | Quarter | Quarter | |||||||||||||
(In thousands) | ||||||||||||||||
Year ended December 31, 2012 | ||||||||||||||||
Net revenue | $ | 17,692 | $ | 19,767 | $ | 20,288 | $ | 16,073 | ||||||||
Cost of revenue | 10,056 | 11,171 | 11,098 | 8,336 | ||||||||||||
Income (loss) from operations | -1,893 | -4,946 | 309 | -3,064 | ||||||||||||
Net income (loss) | -1,995 | -4,940 | 314 | -3,057 | ||||||||||||
Net income (loss) per share: | ||||||||||||||||
Basic | $ | -0.1 | $ | -0.24 | $ | 0.02 | $ | -0.15 | ||||||||
Diluted | $ | -0.1 | $ | -0.24 | $ | 0.02 | $ | -0.15 | ||||||||
Weighted average common shares | ||||||||||||||||
outstanding: | ||||||||||||||||
Basic | 20,659 | 20,637 | 20,650 | 20,573 | ||||||||||||
Diluted | 20,659 | 20,637 | 20,663 | 20,573 | ||||||||||||
Schedule_II_Valuation_and_Qual
Schedule II - Valuation and Qualifying Accounts | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Schedule II - Valuation and Qualifying Accounts [Abstract] | ' | |||||||||||||||
Schedule II - Valuation and Qualifying Accounts | ' | |||||||||||||||
Schedule II — Valuation and Qualifying Accounts | ||||||||||||||||
Balance at | Charged to | Balance | ||||||||||||||
Beginning of | Costs and | at End | ||||||||||||||
Year | Expenses | Deductions | of Year | |||||||||||||
Description | (In thousands) | |||||||||||||||
Fiscal year ended December 31, 2012 | ||||||||||||||||
Provisions for Doubtful Accounts | 35 | — | 20 | 15 | ||||||||||||
Deferred Tax Asset Valuation | 41,305 | 1,809 | — | 43,114 | ||||||||||||
Fiscal year ended December 31, 2013 | ||||||||||||||||
Provisions for Doubtful Accounts | 15 | 15 | 7 | 7 | ||||||||||||
Deferred Tax Asset Valuation | 43,114 | 1,280 | — | 44,394 | ||||||||||||
The_Company_and_Summary_of_Sig1
The Company and Summary of Significant Accounting Policies (Policy) | 12 Months Ended | ||
Dec. 31, 2013 | |||
The Company and Summary of Significant Accounting Policies [Abstract] | ' | ||
Nature of Operations | ' | ||
Nature of operations | |||
ZipRealty, Inc. (the “Company”), was incorporated in California in January 1999 and reincorporated in Delaware in August 2004. The Company provides an online marketing and sales system for residential real estate professionals. The Company’s owned-and-operated brokerages, and the brokerage clients of its Powered by Zip business, offer brokerage services through their agents, utilizing this system, to buyers and sellers in residential real estate transactions. | |||
Principles of Consolidation | ' | ||
Principles of consolidation | |||
The accompanying consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries and reflect the elimination of intercompany accounts and transactions. | |||
Use of Estimates | ' | ||
Use of estimates | |||
The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. | |||
Net Income (Loss) Per Share | ' | ||
Net income (loss) per share | |||
Basic net income (loss) per share is computed by dividing the net income (loss) for the period by the weighted average number of shares of common stock outstanding during the period. Diluted income (loss) per share is computed by dividing net income (loss) for the period by the weighted average number of shares of common stock outstanding plus, if dilutive, potential common shares outstanding during the period. Potential common shares are composed of incremental shares of common stock issuable upon the exercise of potentially dilutive stock options, warrants and unvested restricted stock. | |||
Revenue Recognition | ' | ||
Revenue recognition | |||
Revenue is recognized only when the price is fixed or determinable, persuasive evidence of an arrangement exists, the service has been delivered and collectability of the resulting receivable is reasonably assured. | |||
We derive the significant majority of our net revenues from commissions earned in our owned-and-operated residential real estate brokerage. We recognize this commission based revenue upon closing of a sale and purchase transaction, net of any rebate, commission discount or transaction fee adjustment. These transactions typically do not have multiple deliverable arrangements. | |||
We derive marketing and other revenues primarily from marketing agreements with residential mortgage service providers, the sale of online advertising, and other referral revenue including revenue from brokerages who are clients of our Powered by Zip business. Marketing service revenues are recognized over the term of the agreements as the contracted services are delivered. Advertising revenues on contracts are recognized as impressions are delivered or as clicks are provided to advertisers. Advertising and marketing contracts may consist of multiple deliverables which generally include a blend of various impressions or clicks as well as other marketing deliverables. Other referral revenues related to revenue sharing arrangements are recognized based on reports received from our partners, provided that collectability is reasonably assured. | |||
Cost of Revenues | ' | ||
Cost of revenues | |||
Cost of revenues consists of agent and broker commissions and related costs. During the last half of the year ended December 31, 2010 and the first quarter of the year ended December 31, 2011, the Company converted its agent force from an employee model to an independent contractor model. Under the employee model, cost of revenues consisted principally of commissions, payroll taxes, benefits including health insurance, performance and tenure based award programs and agent expense reimbursements. Under the independent contractor model, cost of revenues consists principally of commissions and related costs. Agent commissions are generally paid on transaction revenues plus referral and other revenues generated by our agents. | |||
Cash and Cash Equivalents | ' | ||
Cash and cash equivalents | |||
The Company considers all highly liquid investments with remaining maturities at the date of purchase of three months or less to be cash equivalents. At December 31, 2013 and 2012, $11,349,000 and $7,957,000, respectively, of money market funds, the fair value of which approximates cost, are included in cash and cash equivalents. | |||
Short-Term Investments | ' | ||
Short-term investments | |||
The Company classifies fixed income securities with a maturity of over twelve months from the balance sheet date as short-term investments based on the funds being available for use in current operations, if needed. To date all fixed income securities have been classified as available-for-sale and carried at fair value, which is determined based on quoted market prices, with unrealized gains or losses, net of tax effects, included in accumulated other comprehensive income (loss) in the consolidated accompanying financial statements. Interest and amortization of premiums and accretion of discounts on fixed income securities are included in other income (expense), net, in the accompanying consolidated financial statements. Realized gains and losses are calculated using the specific identification method. | |||
Fair Value of Financial Instruments | ' | ||
Fair value of financial instruments | |||
The carrying amounts of the Company’s financial instruments, which include cash, cash equivalents, accounts receivable, restricted cash, accounts payable, accrued expenses and other current liabilities, approximate their fair values due to their short maturities. | |||
Concentration of Credit Risk, Significant Customers and Significant Suppliers | ' | ||
Concentration of credit risk, significant customers and significant suppliers | |||
Financial instruments that potentially subject the Company to a concentration of credit risk consist of cash, cash equivalents, short-term investments, accounts receivable and restricted cash. | |||
The Company deposits its cash, cash equivalents and short-term investments with financial institutions that management believes to be of high credit quality, and these deposits may on occasion exceed federally insured limits. At December 31, 2013, substantially all of the Company’s cash, cash equivalents, and short-term investments were managed, on behalf of the Company and, in accordance with its investment policy, by one financial institution. The fair values of these short-term investments are subject to fluctuations based on market prices. | |||
The Company’s accounts receivable are derived from commissions earned which are due from escrow and other residential real estate transfer agents and from non-commission revenues including marketing agreements, advertising, lead referrals and other revenue. These accounts receivable are typically unsecured. Allowances for doubtful accounts are provided for in the financial statements and have been within management’s expectations. No escrow or other transfer agent accounted for 10% or more of the accounts receivable at December 31, 2013 or 2012. | |||
The Company derived 42% and 42% of its net transaction revenues during the years ended December 31, 2013 and 2012, respectively, in the State of California. No customer accounted for more than 10% of net revenues in 2013 or 2012. | |||
The Company generates leads for its agents through many sources, including leads from third parties with which the Company has only non-exclusive, short-term agreements that are generally terminable on little or no notice and with no penalties. The cost of these leads is included in sales and marketing expenses. The Company’s largest third-party paid lead source, Google, generated approximately 30% and 33% of the Company’s leads in 2013 and 2012, respectively. Commission Junction, a competitor for online customer acquisition, generated 7% in 2013 and 12% in 2012, while HomeGain, Inc., also competitor for online customer acquisition, generated 8% in 2013 and less than 10% in 2012 of the Company’s leads. | |||
Property and Equipment | ' | ||
Property and equipment | |||
Property and equipment are stated at cost. Leasehold improvements are amortized on the straight-line basis over the shorter of the lease period or their estimated useful lives. Depreciation and amortization is computed using the straight-line method over the estimated useful lives of the property and equipment as follows: | |||
Computer hardware and software | 2 to 3 years | ||
Furniture, fixtures and equipment | 4 to 5 years | ||
Leasehold improvements | Shorter of the lease period or estimated useful life | ||
When assets are sold or retired, the cost and accumulated depreciation and amortization are eliminated from the accounts, and any resulting gains or losses are recorded in operations in the period realized. Maintenance and repairs are expensed as incurred. Expenditures that substantially increase an asset’s useful life or improve an asset’s functionality are capitalized. | |||
Leasehold improvements made by the Company and reimbursable by the landlord as tenant incentives are recorded by the Company as leasehold improvement assets and amortized over the shorter of the lease period or estimated useful life. The incentives from the landlord are recorded as deferred rent and amortized as reductions to rent expense over the lease term. Deferred rent of $50,000 and $50,000 was amortized as a reduction of rent expense in 2013 and 2012, respectively. At December 31, 2013 and 2012, the deferred rent balance attributable to these incentives totaled $179,000 and $229,000, respectively. | |||
Impairment of Long-Lived Assets | ' | ||
Impairment of long-lived assets | |||
In accordance with the accounting guidance for the impairment or disposal of long-lived assets, the Company periodically evaluates the carrying value of long-lived assets to be held and used when events and circumstances warrant such a review. The carrying value of a long-lived asset is considered impaired when the anticipated undiscounted cash flow from such asset is less than its carrying value. In that event, a loss is recognized based on the amount by which the carrying value exceeds the fair value of the long-lived asset. Fair value is determined primarily using the anticipated cash flows discounted at a rate commensurate with the risk involved. Losses on long-lived assets to be disposed of are determined in a similar manner, except that fair values are reduced for the cost of disposal. Through December 31, 2013, the Company has not recorded any charges for impairment of long-lived assets. | |||
Stock-Based Compensation | ' | ||
Stock-based compensation | |||
The Company follows the accounting guidance for share-based payments which requires the measurement and recognition of compensation expense for all stock-based payment awards made to employees, consultants and directors, including employee stock options and employee stock purchases, based on estimated fair values. Under the fair value recognition provisions of the accounting standards, stock-based compensation cost is estimated at the grant date based on the fair value of the awards expected to vest and recognized as expense using the straight-line method over the requisite service period of the award. | |||
The Company estimates the fair value of stock options using the Black-Scholes option pricing model, which incorporates various assumptions including volatility, expected life and interest rates. The expected volatility is based on the historical volatility of the Company’s common stock and consideration of other relevant factors such as the volatility assumptions of guideline companies. The expected life of options is estimated by taking the average of the vesting term and the contractual term of the option. The Company estimates expected forfeitures based on various factors including employee class and historical experience. The estimation of stock awards that will ultimately vest requires judgment, and to the extent actual results or updated estimates differ from our current estimates, such amounts will be recorded as a cumulative adjustment in the period the estimates are revised. | |||
Internal-Use Software and Website Development Costs | ' | ||
Internal-use software and website development costs | |||
The Company accounts for its internal-use software and website development costs in accordance with the applicable accounting guidance. Costs incurred in the planning stage are expensed as incurred while costs incurred in the application and infrastructure stage are capitalized, assuming such costs are deemed to be recoverable. Costs incurred in the operating stage are expensed as incurred except for the costs of fees paid for cancelable maintenance contracts for internal-use software purchased from third-party vendors. The costs of these fees incurred during the operating phase are recognized on a ratable basis over the period of expected economic benefit, which generally coincides with the contractual service period. The planning stage ends when the functional specifications for a release are complete. Costs incurred relating to architecture design and coding that result in additional functionality are capitalized in the application and infrastructure stage. These costs principally relate to payroll costs for employees directly involved in the development process. Capitalized internal-use software costs, included in property and equipment, are amortized over the software’s useful life, which is generally estimated to be 24 months. Capitalized internal-use software and website development costs are amortized to product development. Costs incurred in connection with the research and development of the Company’s product and technology are expensed as incurred to product development. | |||
The Company capitalized $1,853,000 and $1,304,000 in internal-use software costs during the years ended December 31, 2013 and 2012, respectively. Amortization expense totaled $1,348,000 and $1,156,000 during the years ended December 31, 2013 and 2012, respectively. The amount of unamortized internal-use software costs at December 31, 2013 and 2012 was $1,881,000 and $1,329,000, respectively. | |||
Advertising Costs | ' | ||
Advertising costs | |||
The costs of advertising are expensed as incurred. Advertising expense was $29,000 and $181,000 for the years ended December 31, 2013 and 2012, respectively. Such expense is included in sales and marketing expense in the Company’s consolidated statements of operations. | |||
Income Taxes | ' | ||
Income taxes | |||
Deferred tax assets and liabilities arise from the differences between the tax basis of an asset or liability and its reported amount in the financial statements as well as from net operating loss and tax credit carry forwards. The measurement of current and deferred tax assets and liabilities is based on provisions of enacted tax laws; the effects of future changes in tax laws or rates are not anticipated. Valuation allowances are established when necessary to reduce deferred tax assets to the amount expected to be realized. Income tax expense or benefit is the tax payable or refundable, respectively, for the period adjusted for the change during the period in deferred tax assets and liabilities. | |||
Comprehensive Loss | ' | ||
Comprehensive loss | |||
Comprehensive income (loss) is the sum of net income (loss) and unrealized gains (losses) on available-for-sale securities. Unrealized gains (losses) on investments are excluded from net income (loss) and are reported in accumulated other comprehensive income (loss) in the accompanying consolidated financial statements. | |||
Restructurings | ' | ||
Restructuring charges | |||
In connection with the Company’s cost reduction initiatives, it records restructuring charges for employee termination costs, costs related to leased facilities to be abandoned or subleased, fixed asset impairments and other exit-related costs. Formal plans are developed and approved by management. Restructuring costs related to employee severance and related expenses are recorded when probable and estimable. Fixed assets impaired as a result of restructuring are typically accounted for as assets held for sale or abandoned. The recognition of restructuring charges requires the Company to make judgments and estimates regarding the nature, timing, and costs associated with the planned restructuring activity, including estimating sublease income and the fair value, less selling costs, of fixed assets being disposed of. Estimates of future liabilities may change, requiring the Company to record additional restructuring charges or to reduce or reverse the amount of liabilities already recorded. At the end of each reporting period, management evaluates the remaining accrued liabilities to ensure their adequacy, that no excess accruals are retained and that the utilization of the provisions is for the intended purpose in accordance with the approved restructuring plan. In the event circumstances change and the provision is no longer required, the provision is reversed. | |||
Litigation Settlement Charges | ' | ||
Litigation settlement charges | |||
The Company is involved in legal proceedings on an ongoing basis. Based upon management’s evaluation and consultation with outside counsel handling its defense in these matters and an analysis of potential results, losses related to litigation are accrued if it is determined that a loss is probable and can be it reasonably estimated. If only a range of estimated losses can be determined, then we record an amount within the range that, in our judgment, reflects the most likely outcome; if none of the estimates within that range is a better estimate than any other amount, we record the low end of the range. Any such accrual is charged to expense in the appropriate period. The Company records litigation defense expenses in the period in which the litigation services were provided and are included in the general and administrative line of the consolidated statements of operations. | |||
Segment Reporting | ' | ||
Segment reporting | |||
Under the accounting standards for reporting information about operating segments in a company’s financial statements, operating segments are defined as components of an enterprise about which separate financial information is available that is evaluated regularly by the chief operating decision maker (the Company’s Chief Executive Officer), or decision making group, in deciding how to allocate resources and in assessing performance. The Company operates as one segment and in one geographic area, the United States of America. | |||
Recent Accounting Pronouncements | ' | ||
Recent accounting pronouncements | |||
In July 2013, the Financial Accounting Standards Board (“FASB”) issued guidance on the presentation of certain unrecognized tax benefits in the financial statements. This guidance provides that a liability related to an unrecognized tax benefit must be offset against a deferred tax asset for a net operating loss carryforward, a similar tax loss or a tax credit carryforward if such settlement is required or expected in the event the uncertain tax position is disallowed. This guidance is effective for interim and annual reporting periods beginning after December 15, 2013, with earlier adoption permitted, and may be applied prospectively or retrospectively. We expect to adopt this guidance on January 1, 2014. The adoption of this guidance is not expected to have a significant impact on our financial position, results of operations or cash flows, as we have provided a full valuation allowance against our net deferred tax assets. | |||
In February 2013, the FASB issued guidance on the reporting of amounts reclassified out of accumulated other comprehensive income. An entity must report the effect of significant reclassifications out of accumulated other comprehensive income on the respective line items in net income if the amount being reclassified is required under GAAP to be reclassified in its entirety to net income. For other amounts that are not required under GAAP to be reclassified in their entirety to net income in the same reporting period, an entity is required to cross-reference other disclosures required under GAAP that provide additional detail about those amounts. This guidance is effective for interim and annual reporting periods beginning after December 15, 2012, with earlier adoption permitted, and must be applied prospectively. We adopted this guidance on January 1, 2013. The adoption of this guidance did not have any impact on our financial position, results of operations or cash flows. | |||
The_Company_and_Summary_of_Sig2
The Company and Summary of Significant Accounting Policies (Tables) | 12 Months Ended | ||
Dec. 31, 2013 | |||
The Company and Summary of Significant Accounting Policies [Abstract] | ' | ||
Schedule of Estimated Useful Life of Property and Equipment | ' | ||
Computer hardware and software | 2 to 3 years | ||
Furniture, fixtures and equipment | 4 to 5 years | ||
Leasehold improvements | Shorter of the lease period or estimated useful life | ||
Balance_Sheet_Components_Table
Balance Sheet Components (Tables) | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Balance Sheet Components [Abstract] | ' | |||||||
Schedule of Property and Equipment | ' | |||||||
Property and equipment, net consisted of the following: | ||||||||
Year Ended December 31, | ||||||||
2013 | 2012 | |||||||
(In thousands) | ||||||||
Computer hardware and software | $ | 11,341 | $ | 9,095 | ||||
Furniture, fixture and equipment | 1,944 | 1,938 | ||||||
Leasehold improvements | 1,956 | 1,656 | ||||||
15,241 | 12,689 | |||||||
Less: accumulated depreciation and amortization | -12,099 | -10,302 | ||||||
Property and equipment, net | $ | 3,142 | $ | 2,387 | ||||
Accrued Expenses and Other Current Liabilities | ' | |||||||
Accrued expenses and other current liabilities consisted of the following: | ||||||||
Year Ended December 31, | ||||||||
2013 | 2012 | |||||||
(In thousands) | ||||||||
Accrued compensation | $ | 1,606 | $ | 1,073 | ||||
Accrued agent commissions | 959 | 1,423 | ||||||
Accrued marketing | 861 | 863 | ||||||
Accrued litigation settlement | 1,909 | 227 | ||||||
Accrued professional fees | 164 | 188 | ||||||
Other accrued expenses | 672 | 519 | ||||||
$ | 6,171 | $ | 4,293 | |||||
Schedule of Other Long Term Liabilities | ' | |||||||
Other long-term liabilities consisted of the following: | ||||||||
Year Ended December 31, | ||||||||
2013 | 2012 | |||||||
(In thousands) | ||||||||
Deferred rent | $ | 556 | $ | 592 | ||||
Accrued restructuring | 24 | - | ||||||
Other long-term liabilities | 6 | - | ||||||
$ | 586 | $ | 592 | |||||
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 12 Months Ended | |||||||||||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||||||||||
Fair Value Measurements [Abstract] | ' | |||||||||||||||||||||||||||||||
Cash and Cash Equivalents Investments, Measured at Fair Value on a Recurring Basis | ' | |||||||||||||||||||||||||||||||
At December 31, 2013 and 2012, the Company’s cash and cash equivalents, measured at fair value on a recurring basis, by level within the fair value hierarchy were as follows: | ||||||||||||||||||||||||||||||||
Year Ended December 31, 2013 | Year Ended December 31, 2012 | |||||||||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||||||||||
(In thousands) | (In thousands) | |||||||||||||||||||||||||||||||
Money Market funds | $ | 11,349 | $ | - | $ | - | $ | 11,349 | $ | 7,957 | $ | - | $ | - | $ | 7,957 | ||||||||||||||||
Total | $ | 11,349 | $ | - | $ | - | $ | 11,349 | $ | 7,957 | $ | - | $ | - | $ | 7,957 | ||||||||||||||||
Net_Income_Loss_Per_Share_Tabl
Net Income (Loss) Per Share (Tables) | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Net Income (Loss) Per Share [Abstract] | ' | |||||||
Computation of Basic and Dilutive Net Income (Loss) Per Share | ' | |||||||
The following table sets forth the computation of basic and dilutive net income (loss) per share for the periods indicated: | ||||||||
Year Ended December 31, | ||||||||
2013 | 2012 | |||||||
(In thousands, except per share amounts) | ||||||||
Numerator: | ||||||||
Net loss | $ | -5,436 | $ | -9,678 | ||||
Denominator: | ||||||||
Weighted average common shares outstanding; basic and diluted | 21,071 | 20,641 | ||||||
Net loss per share; basic and diluted: | $ | -0.26 | $ | -0.47 | ||||
Weighted-Average Outstanding Options, Warrants and Non-Vested Common Shares | ' | |||||||
The following weighted-average outstanding options and non-vested common shares were excluded in the computation of diluted net loss per share for the periods presented because including them would be anti-dilutive: | ||||||||
Year Ended December 31, | ||||||||
2013 | 2012 | |||||||
(In thousands) | ||||||||
Options to purchase common stock | 5,479 | 4,809 | ||||||
Nonvested common stock | 44 | 20 | ||||||
Total | 5,523 | 4,829 | ||||||
Income_Taxes_Tables
Income Taxes (Tables) | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Income Taxes [Abstract] | ' | |||||||
Schedule of Components of the Provision for Income Taxes | ' | |||||||
The components of the provision for income taxes are as follows: | ||||||||
Year Ended December 31, | ||||||||
2013 | 2012 | |||||||
(In thousands) | ||||||||
Current: | ||||||||
Federal | $ | - | $ | - | ||||
State | 59 | 106 | ||||||
59 | 106 | |||||||
Deferred: | ||||||||
Federal | - | - | ||||||
State | - | - | ||||||
- | - | |||||||
Total provision for income taxes | $ | 59 | $ | 106 | ||||
Difference Between the Effective Income Tax Rate and Federal Statutory Rate | ' | |||||||
The difference between the Company’s effective income tax rate and federal statutory rate consisted of the following: | ||||||||
Year Ended December 31, | ||||||||
2013 | 2012 | |||||||
Statutory federal tax rate | 34.00% | 34.00% | ||||||
State tax rate, net of federal benefit | -1.10% | -1.10% | ||||||
Federal NOL carryback | 0.00% | 0.00% | ||||||
Stock options | -2.72% | -0.97% | ||||||
Change in valuation allowance | -31.38% | -33.01% | ||||||
Other, net | 0.10% | -0.02% | ||||||
Total | -1.10% | -1.10% | ||||||
Schedule of Deferred Tax Assets | ' | |||||||
Deferred tax assets consist of the following at: | ||||||||
Year Ended December 31, | ||||||||
2013 | 2012 | |||||||
(In thousands) | ||||||||
Deferred tax assets: | ||||||||
Net operating loss carryforward | $ | 39,074 | $ | 37,664 | ||||
Stock-based compensation | 3,117 | 3,580 | ||||||
Fixed assets and intangibles | 783 | 1,043 | ||||||
Allowance and accruals | 1,397 | 804 | ||||||
Credits | 23 | 23 | ||||||
Total gross deferred tax assets | 44,394 | 43,114 | ||||||
Less: valuation allowance | -44,394 | -43,114 | ||||||
Net deferred tax assets | $ | - | $ | - | ||||
Commitments_and_Contingencies_
Commitments and Contingencies (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Commitments and Contingencies [Abstract] | ' | |||||||||||
Future Gross and Net Lease Commitments under Non-Cancelable Operating Leases | ' | |||||||||||
Gross | ||||||||||||
Operating | Net Operating | |||||||||||
Lease | Sublease | Lease | ||||||||||
Commitments | Income | Commitments | ||||||||||
(In thousands) | ||||||||||||
Year ending December 31, | ||||||||||||
2014 | $ | 1,723 | $ | -41 | $ | 1,682 | ||||||
2015 | 1,520 | -43 | 1,477 | |||||||||
2016 | 1,286 | -44 | 1,242 | |||||||||
2017 | 733 | -34 | 699 | |||||||||
2018 | 233 | - | 233 | |||||||||
2019 | 12 | |||||||||||
Total minimum lease payments | $ | 5,507 | $ | -162 | $ | 5,333 | ||||||
StockBased_Compensation_Tables
Stock-Based Compensation (Tables) | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Stock-Based Compensation [Abstract] | ' | |||||||||||||||
Assumptions Used and Resulting Estimates of Weighted Average Fair Value Per Share of Options Granted | ' | |||||||||||||||
The assumptions used and the resulting estimates of weighted average fair value per share of options granted were as follows: | ||||||||||||||||
Year Ended December 31, | ||||||||||||||||
2013 | 2012 | |||||||||||||||
Expected volatility | 51-52% | 49-51% | ||||||||||||||
Risk-free interest rate | 1.0-1.3% | 0.7-1.2% | ||||||||||||||
Expected life (years) | 5.5-6.1 | 5.5-6.1 | ||||||||||||||
Expected dividend yield | 0% | 0% | ||||||||||||||
Weighted-average fair value of options granted during the period | $1.76 | $0.66 | ||||||||||||||
Stock-Based Compensation Expense | ' | |||||||||||||||
Stock-based compensation expense was as follows: | ||||||||||||||||
Year Ended December 31, | ||||||||||||||||
2013 | 2012 | |||||||||||||||
(In thousands) | ||||||||||||||||
Cost of revenues | $ | 253 | $ | 156 | ||||||||||||
Product development | 105 | 73 | ||||||||||||||
Sales and marketing | 370 | 197 | ||||||||||||||
General and administrative | 683 | 673 | ||||||||||||||
Restructuring charges, net | - | 80 | ||||||||||||||
Total stock-based compensation expense | 1,411 | 1,179 | ||||||||||||||
Tax effect on stock-based compensation expense | - | - | ||||||||||||||
Net effect on net loss | $ | 1,411 | $ | 1,179 | ||||||||||||
Summary of Company's Stock Option Activity | ' | |||||||||||||||
A summary of the Company’s stock option activity for the periods indicated is as follows: | ||||||||||||||||
Weighted | ||||||||||||||||
Weighted | Average | |||||||||||||||
Average | Remaining | Aggregate | ||||||||||||||
Number of | Exercise | Contractual | Intrinsic | |||||||||||||
Shares | Price | Life ( Years) | Value | |||||||||||||
(In thousands) | ||||||||||||||||
Outstanding at December 31, 2011 | 4,163 | 3.87 | 6.01 | 20 | ||||||||||||
Options granted | 1,767 | 1.41 | ||||||||||||||
Options exercised | -120 | 1.20 | ||||||||||||||
Options forfeited/cancelled/expired | -713 | 3.30 | ||||||||||||||
Outstanding at December 31, 2012 | 5,097 | 3.16 | 6.15 | 2,614 | ||||||||||||
Options granted | 1,277 | 3.57 | ||||||||||||||
Options exercised | -930 | 3.00 | ||||||||||||||
Options forfeited/cancelled/expired | -363 | 5.07 | ||||||||||||||
Outstanding at December 31, 2013 | 5,081 | $ | 3.16 | 7.05 | $ | 13,412 | ||||||||||
Vested and expected to vest at December 31, 2013 | 4,966 | $ | 3.16 | 7.00 | $ | 13,113 | ||||||||||
Exercisable at December 31, 2013 | 2,894 | $ | 3.43 | 5.76 | $ | 7,293 | ||||||||||
Summary of Company's Nonvested Restricted Stock | ' | |||||||||||||||
A summary of the Company’s nonvested restricted stock for the periods indicated is as follows: | ||||||||||||||||
Weighted | ||||||||||||||||
Average Grant | ||||||||||||||||
Number of | Date Fair value | |||||||||||||||
Shares | Per Share | |||||||||||||||
(In thousands) | ||||||||||||||||
Nonvested at December 31, 2011 | 23 | 4.90 | ||||||||||||||
Shares granted | 15 | 2.87 | ||||||||||||||
Shares vested | -21 | 4.90 | ||||||||||||||
Shares forfeited | -2 | 4.90 | ||||||||||||||
Nonvested at December 31, 2012 | 15 | 2.87 | ||||||||||||||
Shares granted | 30 | 3.00 | ||||||||||||||
Shares vested | -15 | 2.87 | ||||||||||||||
Shares forfeited | - | - | ||||||||||||||
Nonvested at December 31, 2013 | 30 | $ | 3.00 | |||||||||||||
Restructuring_Charges_Net_Tabl
Restructuring Charges, Net (Tables) | 12 Months Ended | |||||||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||||||
Restructuring Charges, Net [Abstract] | ' | |||||||||||||||||||||||||||
Restructuring Charges Activity | ' | |||||||||||||||||||||||||||
For the years ended December 31, 2013 and 2012, restructuring charges were comprised of the following: | ||||||||||||||||||||||||||||
Year Ended December 31, | ||||||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||
Employee severance and related expenses | $ | 54 | $ | 1,611 | ||||||||||||||||||||||||
Lease obligations and other exit costs | -21 | 75 | ||||||||||||||||||||||||||
Non-cash charges | - | -80 | ||||||||||||||||||||||||||
Total | $ | 33 | $ | 1,606 | ||||||||||||||||||||||||
Accrued Restructuring Charges Activity | ' | |||||||||||||||||||||||||||
The activity accrued restructuring charges for the year ended December 31, 2013 was as follows: | ||||||||||||||||||||||||||||
Balance as of December 31, | Non-cash | Balance as of December 31, | Total Charges to date as of December 31, | |||||||||||||||||||||||||
2012 | Charges | Payments | Adjustment | 2013 | 2013 | |||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||
2012 Restructuring Plan | ||||||||||||||||||||||||||||
Employee severance and related expenses | $ | 27 | $ | 54 | $ | -81 | $ | - | $ | - | $ | 1,585 | ||||||||||||||||
Lease obligation and other exit costs | 44 | - | -24 | - | 20 | 75 | ||||||||||||||||||||||
71 | 54 | -105 | - | 20 | 1,660 | |||||||||||||||||||||||
2011 Restructuring Plan | ||||||||||||||||||||||||||||
Employee severance and related expenses | - | - | - | - | - | 1,452 | ||||||||||||||||||||||
Lease obligation and other exit costs | 150 | -21 | -81 | - | 48 | 808 | ||||||||||||||||||||||
Non-cash charges | - | - | - | 59 | ||||||||||||||||||||||||
150 | -21 | -81 | - | 48 | 2,319 | |||||||||||||||||||||||
Total | $ | 221 | $ | 33 | $ | -186 | $ | - | $ | 68 | $ | 3,979 | ||||||||||||||||
The activity accrued restructuring charges for the year ended December 31, 2012 was as follows: | ||||||||||||||||||||||||||||
Balance as of December 31, | Non-cash | Balance as of December 31, | Total Charges to date as of December 31, | |||||||||||||||||||||||||
2011 | Charges | Payments | Adjustment | 2012 | 2012 | |||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||
2012 Restructuring Plan | ||||||||||||||||||||||||||||
Employee severance and related expenses | $ | - | $ | 1,595 | $ | -1,488 | $ | -80 | $ | 27 | $ | 1,531 | ||||||||||||||||
Lease obligation and other exit costs | - | 90 | -109 | 63 | 44 | 75 | ||||||||||||||||||||||
- | 1,685 | -1,597 | -17 | 71 | 1,606 | |||||||||||||||||||||||
2011 Restructuring Plan | ||||||||||||||||||||||||||||
Employee severance and related expenses | 39 | 1 | -40 | - | - | 1,450 | ||||||||||||||||||||||
Lease obligation and other exit costs | 377 | - | -224 | -3 | 150 | 830 | ||||||||||||||||||||||
Non-cash adjustments | - | - | - | - | - | 59 | ||||||||||||||||||||||
416 | 1 | -264 | -3 | 150 | 2,339 | |||||||||||||||||||||||
Total | $ | 416 | $ | 1,686 | $ | -1,861 | $ | -20 | $ | 221 | $ | 3,945 | ||||||||||||||||
Accrued Restructuring Charges Included in Balance Sheet | ' | |||||||||||||||||||||||||||
Accrued restructuring charges were included in the Company’s consolidated balance sheet as follows: | ||||||||||||||||||||||||||||
Year Ended December 31, | ||||||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||
Accrued restructuring charges (current liabilities) | $ | 44 | $ | 221 | ||||||||||||||||||||||||
Other long-term liabilities | 24 | - | ||||||||||||||||||||||||||
Total accrued restructuring charges | $ | 68 | $ | 221 | ||||||||||||||||||||||||
Unaudited_Quarterly_Financial_1
Unaudited Quarterly Financial Data (Tables) | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Unaudited Quarterly Financial Data [Abstract] | ' | |||||||||||||||
Schedule of Quarterly Financial Data | ' | |||||||||||||||
Results for any fiscal quarter are not necessarily indicative of results for the full year or for any future quarter. | ||||||||||||||||
Fourth | Third | Second | First | |||||||||||||
Quarter | Quarter | Quarter | Quarter | |||||||||||||
(In thousands) | ||||||||||||||||
Year ended December 31, 2013 | ||||||||||||||||
Net revenue | $ | 16,980 | $ | 21,816 | $ | 21,665 | $ | 15,392 | ||||||||
Cost of revenue | 9,837 | 12,742 | 12,392 | 8,703 | ||||||||||||
Income (loss) from operations | -3,675 | 104 | 342 | -2,154 | ||||||||||||
Net income (loss) | -3,686 | 94 | 324 | -2,168 | ||||||||||||
Net income (loss) per share: | ||||||||||||||||
Basic | $ | -0.17 | $ | - | $ | 0.02 | $ | -0.1 | ||||||||
Diluted | $ | -0.17 | $ | - | $ | 0.01 | $ | -0.1 | ||||||||
Weighted average common shares | ||||||||||||||||
outstanding: | ||||||||||||||||
Basic | 21,569 | 21,114 | 20,830 | 20,735 | ||||||||||||
Diluted | 21,569 | 22,492 | 21,700 | 20,735 | ||||||||||||
Fourth | Third | Second | First | |||||||||||||
Quarter | Quarter | Quarter | Quarter | |||||||||||||
(In thousands) | ||||||||||||||||
Year ended December 31, 2012 | ||||||||||||||||
Net revenue | $ | 17,692 | $ | 19,767 | $ | 20,288 | $ | 16,073 | ||||||||
Cost of revenue | 10,056 | 11,171 | 11,098 | 8,336 | ||||||||||||
Income (loss) from operations | -1,893 | -4,946 | 309 | -3,064 | ||||||||||||
Net income (loss) | -1,995 | -4,940 | 314 | -3,057 | ||||||||||||
Net income (loss) per share: | ||||||||||||||||
Basic | $ | -0.1 | $ | -0.24 | $ | 0.02 | $ | -0.15 | ||||||||
Diluted | $ | -0.1 | $ | -0.24 | $ | 0.02 | $ | -0.15 | ||||||||
Weighted average common shares | ||||||||||||||||
outstanding: | ||||||||||||||||
Basic | 20,659 | 20,637 | 20,650 | 20,573 | ||||||||||||
Diluted | 20,659 | 20,637 | 20,663 | 20,573 | ||||||||||||
The_Company_and_Summary_of_Sig3
The Company and Summary of Significant Accounting Policies (Narrative) (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Description Of Business Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items] | ' | ' | ' |
Cash and cash equivalents | $14,311,000 | $12,921,000 | $12,634,000 |
Advertising expense | 29,000 | 181,000 | ' |
Deferred rent balance | 179,000 | 229,000 | ' |
Amortization of deferred rent expense | 50,000 | 50,000 | ' |
Google [Member] | ' | ' | ' |
Description Of Business Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items] | ' | ' | ' |
Concentration risk percentage | 30.00% | 33.00% | ' |
HomeGain, Inc., [Member] | ' | ' | ' |
Description Of Business Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items] | ' | ' | ' |
Concentration risk percentage | 8.00% | 10.00% | ' |
Commission Junction [Member] | ' | ' | ' |
Description Of Business Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items] | ' | ' | ' |
Concentration risk percentage | 7.00% | 12.00% | ' |
Money Market Funds [Member] | ' | ' | ' |
Description Of Business Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items] | ' | ' | ' |
Cash and cash equivalents | 11,349,000 | 7,957,000 | ' |
California [Member] | ' | ' | ' |
Description Of Business Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items] | ' | ' | ' |
Concentration risk percentage | 42.00% | 42.00% | ' |
Software [Member] | ' | ' | ' |
Description Of Business Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items] | ' | ' | ' |
Capitalized costs related to internal-use software | 1,853,000 | 1,304,000 | ' |
Property and equipment, useful life | '24 months | ' | ' |
Amortization expense | 1,348,000 | 1,156,000 | ' |
Unamortized amount | $1,881,000 | $1,329,000 | ' |
The_Company_and_Summary_of_Sig4
The Company and Summary of Significant (Schedule of Estimated Useful Life of Property and Equipment) (Details) | 12 Months Ended |
Dec. 31, 2013 | |
Leasehold Improvements [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Description of leashold useful life | 'Shorter of the lease period or estimated useful life |
Maximum [Member] | Computer Hardware And Software [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Property and equipment, useful life | '3 years |
Maximum [Member] | Furniture, Fixtures And Equipment [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Property and equipment, useful life | '5 years |
Minimum [Member] | Computer Hardware And Software [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Property and equipment, useful life | '2 years |
Minimum [Member] | Furniture, Fixtures And Equipment [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Property and equipment, useful life | '4 years |
Balance_Sheet_Components_Narra
Balance Sheet Components (Narrative) (Details) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Balance Sheet Components [Line Items] | ' | ' |
Restricted cash | $210,000 | $500,000 |
Depreciation and amortization expense | 1,947,000 | 1,807,000 |
Fully depreciated property plant and equipment | 9,954,000 | 7,789,266 |
Commercial Card Agreement [Member] | ' | ' |
Balance Sheet Components [Line Items] | ' | ' |
Restricted cash | 50,000 | 300,000 |
Facility Lease Agreement [Member] | ' | ' |
Balance Sheet Components [Line Items] | ' | ' |
Restricted cash | $160,000 | $200,000 |
Letter of credit expiration date | 1-Jul-17 | ' |
Balance_Sheet_Components_Sched
Balance Sheet Components (Schedule of Property and Equipment) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Property, Plant and Equipment [Line Items] | ' | ' |
Property and equipment, gross | $15,241 | $12,689 |
Less: accumulated depreciation and amortization | -12,099 | -10,302 |
Property and equipment, net | 3,142 | 2,387 |
Computer Hardware And Software [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property and equipment, gross | 11,341 | 9,095 |
Furniture, Fixtures And Equipment [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property and equipment, gross | 1,944 | 1,938 |
Leasehold Improvements [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property and equipment, gross | $1,956 | $1,656 |
Balance_Sheet_Components_Accru
Balance Sheet Components (Accrued Expenses and Other Current Liabilities) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Balance Sheet Components [Abstract] | ' | ' |
Accrued compensation | $1,606 | $1,073 |
Accrued agent commissions | 959 | 1,423 |
Accrued marketing | 861 | 863 |
Accrued litigation settlement | 1,909 | 227 |
Accrued professional fees | 164 | 188 |
Other accrued expenses | 672 | 519 |
Accrued expenses and other current liabilities | $6,171 | $4,293 |
Balance_Shee_Components_Other_
Balance Shee Components (Other Long Term Liabilities) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Balance Sheet Components [Abstract] | ' | ' |
Deferred rent | $556 | $592 |
Accrued restructuring | 24 | ' |
Other long term liabilities | 6 | ' |
Other liabilities, noncurrent, total | $586 | $592 |
Fair_Value_Measurements_Cash_a
Fair Value Measurements (Cash and Cash Equivalents Investments, Measured at Fair Value on a Recurring Basis) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Available-for-sale Securities, short term investment | $11,349 | $7,957 |
Money Market Funds [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Available-for-sale Securities, short term investment | 11,349 | 7,957 |
Fair Value, Inputs, Level 1 [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Available-for-sale Securities, short term investment | 11,349 | 7,957 |
Fair Value, Inputs, Level 1 [Member] | Money Market Funds [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Available-for-sale Securities, short term investment | $11,349 | $7,957 |
Net_Income_Loss_Per_Share_Comp
Net Income (Loss) Per Share (Computation of Basic and Dilutive Net Income (Loss) Per Share) (Details) (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 |
Numerator: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net loss | ($3,686) | $94 | $324 | ($2,168) | ($1,995) | ($4,940) | $314 | ($3,057) | ($5,436) | ($9,678) |
Denominator: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Weighted average common shares outstanding; basic and diluted | ' | ' | ' | ' | ' | ' | ' | ' | 21,071 | 20,641 |
Net income (loss) per share basic and diluted: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net loss per share; basic and diluted | ' | ' | ' | ' | ' | ' | ' | ' | ($0.26) | ($0.47) |
Net_Income_Loss_Per_Share_Weig
Net Income (Loss) Per Share (Weighted-Average Outstanding Options, Warrants and Non-Vested Common Shares) (Details) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' |
Antidilutive securities excluded from computation of earnings per share | 5,523 | 4,829 |
Stock Options [Member] | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' |
Antidilutive securities excluded from computation of earnings per share | 5,479 | 4,809 |
Nonvested Common Stock [Member] | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' |
Antidilutive securities excluded from computation of earnings per share | 44 | 20 |
Income_Taxes_Narrative_Details
Income Taxes (Narrative) (Details) (USD $) | 12 Months Ended |
In Millions, unless otherwise specified | Dec. 31, 2013 |
Operating Loss Carryforwards [Line Items] | ' |
Operating loss carryforwards, expiration description | 'begin to expire in 2019 for federal and 2014 for state tax purposes |
Operating loss carryforwards, Federal | $113.70 |
Operating loss carryforwards, State | 81.8 |
Stock Options [Member] | ' |
Operating Loss Carryforwards [Line Items] | ' |
Operating loss carryforwards, Federal | 5.4 |
Operating loss carryforwards, State | $5.40 |
Income_Taxes_Schedule_of_Compo
Income Taxes (Schedule of Components of the Provision for Income Taxes) (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Income Taxes [Abstract] | ' | ' |
Current, Federal | ' | ' |
Current, State | 59 | 106 |
Current, Total | 59 | 106 |
Deferred, Federal | ' | ' |
Deferred, State | ' | ' |
Deferred, Total | ' | ' |
Total provision for income taxes | $59 | $106 |
Income_Taxes_Difference_Betwee
Income Taxes (Difference Between the Effective Income Tax Rate and Federal Statutory Rate) (Details) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Income Taxes [Abstract] | ' | ' |
Statutory federal tax rate | 34.00% | 34.00% |
State tax rate, net of federal benefit | -1.10% | -1.10% |
Federal NOL carryback | 0.00% | 0.00% |
Stock options | -2.72% | -0.97% |
Change in valuation allowance | -31.38% | -33.01% |
Other, net | 0.10% | -0.02% |
Effective income tax rate | -1.10% | -1.10% |
Income_Taxes_Schedule_of_Defer
Income Taxes (Schedule of Deferred Tax Assets) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Income Taxes [Abstract] | ' | ' |
Net operating loss carryforwards | $39,074 | $37,664 |
Stock based compensation | 3,117 | 3,580 |
Fixed assets and intangibles | 783 | 1,043 |
Allowances and accruals | 1,397 | 804 |
Credits | 23 | 23 |
Total gross deferred tax assets | 44,394 | 43,114 |
Less: valuation allowance | -44,394 | -43,114 |
Net deferred tax assets | ' | ' |
Commitments_and_Contingencies_1
Commitments and Contingencies (Narrative) (Details) (USD $) | 12 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | |||
Dec. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Dec. 31, 2013 | Sep. 30, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 23, 2013 | Dec. 31, 2013 | |
Former Employees [Member] | Legal fee of DSLE | Legal fee of DSLE | Legal fee of DSLE | Patricia Anderson and James Kwasiborski [Member] | Maximum [Member] | ||||
Legal fee of DSLE | |||||||||
Legal Settlement By Party [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Rent expense | $1,843,000 | $2,007,000 | ' | ' | ' | ' | ' | ' | ' |
Liquidated damages sought by the complaint | ' | ' | ' | 17,000,000 | ' | ' | ' | ' | ' |
Loss contingency | ' | ' | 4,800,000 | ' | ' | ' | ' | ' | ' |
Loss contingency increase | ' | ' | ' | ' | ' | ' | ' | ' | 100,000 |
Legal settlement costs | ' | ' | ' | ' | 200,000 | ' | ' | ' | ' |
Legal settlement, F.I.C.A taxes and adminstrative cost of back wages | ' | ' | ' | ' | ' | 100,000 | 800,000 | 200,000 | ' |
Litigation settlement amount | ' | ' | ' | ' | ' | ' | ' | $1,700,000 | ' |
Recovered_Sheet1
Commitments And Contingencies (Future Gross and Net Lease Commitments Under Non-Cancelable Operating Leases) (Details) (USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Operating Leased Assets [Line Items] | ' |
2014 | $1,682 |
2015 | 1,477 |
2016 | 1,242 |
2017 | 699 |
2018 | 233 |
Total minimum lease payments | 5,333 |
Gross Operating Lease Commitments | ' |
Operating Leased Assets [Line Items] | ' |
2014 | 1,723 |
2015 | 1,520 |
2016 | 1,286 |
2017 | 733 |
2018 | 233 |
2019 | 12 |
Total minimum lease payments | 5,507 |
Sublease Income | ' |
Operating Leased Assets [Line Items] | ' |
2014 | -41 |
2015 | -43 |
2016 | -44 |
2017 | -34 |
Total minimum lease payments | ($162) |
Stockholders_Equity_Narrative_
Stockholders' Equity (Narrative) (Details) (USD $) | 12 Months Ended | |
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Preferred stock, shares authorized | 5,000,000 | 5,000,000 |
Preferred stock par value | $0.00 | $0.00 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Common stock, shares authorized | 100,000,000 | 100,000,000 |
Common stock, par value | $0.00 | $0.00 |
Common stock, shares issued | 25,262,791 | 24,302,749 |
Common stock, shares outstanding | 21,647,098 | 20,692,558 |
Acquisition of treasury stock, (in shares) | 5,000 | 5,000 |
Acquisition of treasury stock | $32 | $7 |
Restricted stock forfeited and transferred to treasury stock | 0 | 3,000 |
Treasury Stock [Member] | ' | ' |
Acquisition of treasury stock, (in shares) | 5,000 | 8,000 |
Acquisition of treasury stock | $32,000 | $7,000 |
StockBased_Compensation_Narrat
Stock-Based Compensation (Narrative) (Details) (USD $) | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | ||||||||||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2008 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | |
In-The-Money Options [Member] | Nonstatutory Stock Options [Member] | Nonstatutory Stock Options [Member] | Restricted Stock [Member] | Restricted Stock [Member] | 2004 Equity Incentive Plan [Member] | 1999 Stock Option Plan [Member] | Minimum [Member] | Minimum [Member] | Minimum [Member] | Minimum [Member] | Chief Executive Officer [Member] | |||
2004 Equity Incentive Plan [Member] | 1999 Stock Option Plan [Member] | 1999 Stock Option Plan [Member] | 1999 Stock Option Plan [Member] | |||||||||||
Incentive Stock Option [Member] | Non-Qualified Stock Option [Member] | |||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of shares of common stock reserved for future issuance | 2,939,000 | ' | ' | ' | ' | ' | ' | ' | ' | 1,666,666 | ' | ' | ' | ' |
Percentage of outstanding common shares | ' | ' | ' | ' | ' | ' | ' | 4.00% | ' | ' | ' | ' | ' | ' |
Percentage of estimated grant date fair value of the shares | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 85.00% | 100.00% | 85.00% | ' |
Percentage of exercise price of options granted to 10% stockholders | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 110.00% | ' | ' | ' |
Unrecorded stock-based compensation, after estimated forfeitures | $2,700,000 | ' | ' | ' | ' | $27,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Weighted average remaining recognition period | '2 years 7 months 6 days | ' | ' | ' | ' | '3 months 18 days | ' | ' | ' | ' | ' | ' | ' | ' |
Options vesting period | ' | ' | ' | '36 months | ' | '24 months | ' | ' | '36 months | ' | ' | ' | ' | ' |
Options vesting percentage | ' | ' | ' | 25.00% | ' | ' | ' | ' | 25.00% | ' | ' | ' | ' | ' |
Share Price | $5.60 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Options expiration period | ' | ' | ' | '10 years | ' | ' | ' | ' | '10 years | ' | ' | ' | ' | ' |
Number of shares approved outside the stock plans | ' | ' | ' | ' | 325,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of options expired | 363,000 | 713,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock-based compensation expense | 1,411,000 | 1,179,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 80,000 |
Total intrinsic value of options exercised | 1,436,000 | 70,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock-based compensation expense related to restricted stock | ' | ' | ' | ' | ' | $103,000 | ($1,000) | ' | ' | ' | ' | ' | ' | ' |
Exercisable at end of period | 2,894,000 | ' | 2,556,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
StockBased_Compensation_Assump
Stock-Based Compensation (Assumptions Used and Resulting Estimates of Weighted Average Fair Value Per Share of Options Granted) (Details) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Expected volatility, Minimum | 51.00% | 49.00% |
Expected volatility, Maximum | 52.00% | 51.00% |
Risk-free interest rate, Minimum | 1.00% | 0.70% |
Risk-free interest rate, Maximum | 1.30% | 1.20% |
Expected dividend yield | 0.00% | 0.00% |
Weighted-average fair value of options granted during the period | $1.76 | $0.66 |
Minimum [Member] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Expected life (years) | '5 years 6 months | '5 years 6 months |
Maximum [Member] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Expected life (years) | '6 years 1 month 6 days | '6 years 1 month 6 days |
StockBased_Compensation_StockB
Stock-Based Compensation (Stock-Based Compensation Expense) (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' |
Stock-based compensation expense | $1,411 | $1,179 |
Tax effect on stock-based compensation | ' | ' |
Net effect on net loss | 1,411 | 1,179 |
Cost of Revenues [Member] | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' |
Stock-based compensation expense | 253 | 156 |
Product Development [Member] | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' |
Stock-based compensation expense | 105 | 73 |
Sales and Marketing [Member] | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' |
Stock-based compensation expense | 370 | 197 |
General and Administrative [Member] | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' |
Stock-based compensation expense | 683 | 673 |
Restructuring Charges [Member] | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' |
Stock-based compensation expense | ' | $80 |
StockBased_Compensation_Summar
Stock-Based Compensation (Summary of Company's Stock Option Activity) (Details) (USD $) | 12 Months Ended | |
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Number of shares: | ' | ' |
Outstanding at beginning of period | 5,097,000 | 4,163,000 |
Options granted | 1,277,000 | 1,767,000 |
Options exercised | -930,000 | -120,000 |
Options forfeited/cancelled/expired | -363,000 | -713,000 |
Outstanding at end of period | 5,081,000 | 5,097,000 |
Vested and expected to vest at end of period | 4,966,000 | ' |
Exercisable at end of period | 2,894,000 | ' |
Weighted Average Exercise Price: | ' | ' |
Outstanding at beginning of period | $3.16 | $3.87 |
Options granted | $3.57 | $1.41 |
Options exercised | $3 | $1.20 |
Options forfeited/cancelled/expired | $5.07 | $3.30 |
Outstanding at end of period | $3.16 | $3.16 |
Vested and expected to vest at end of period | $3.16 | ' |
Exercisable at end of period | $3.43 | ' |
Weighted Average Remaining Contractual Life (Years) | ' | ' |
Outstanding at beginning of period | '6 years 1 month 24 days | '6 years 4 days |
Outstanding at end of period | '7 years 18 days | '6 years 1 month 24 days |
Vested and expected to vest at end of period | '7 years | ' |
Exercisable at end of period | '5 years 9 months 4 days | ' |
Aggregate Intrinsic Value | ' | ' |
Outstanding at beginning of period | $2,614 | $20 |
Outstanding at end of period | 13,412 | 2,614 |
Vested and expected to vest at end of period | 13,113 | ' |
Exercisable at end of period | $7,293 | ' |
In-The-Money Options [Member] | ' | ' |
Number of shares: | ' | ' |
Exercisable at end of period | 2,556,000 | ' |
StockBased_Compensation_Summar1
Stock-Based Compensation (Summary of Company's Nonvested Restricted Stock) (Details) (Restricted Stock [Member], USD $) | 12 Months Ended | |
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Restricted Stock [Member] | ' | ' |
Number of Shares | ' | ' |
Non-vested at beginning of period | 15 | 23 |
Shares granted | 30 | 15 |
Shares vested | -15 | -21 |
Shares forfeited | ' | -2 |
Non-vested at end of period | 30 | 15 |
Weighted Average Grant Date Fair Value Per Share | ' | ' |
Non-vested at beginning of period | $2.87 | $4.90 |
Shares granted | $3 | $2.87 |
Shares vested | $2.87 | $4.90 |
Shares forfeited | ' | $4.90 |
Non-vested at end of period | $3 | $2.87 |
Employee_Benefit_Plan_Narrativ
Employee Benefit Plan (Narrative) (Details) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Defined contribution plan employer contribution | 25.00% | ' |
Percentage of gross salary matched by the company | 4.00% | ' |
401 (K) contribution by the company | $63,000 | $67,000 |
Minimum [Member] | ' | ' |
Defined contribution plan employee contribution | 1.00% | ' |
Maximum [Member] | ' | ' |
Defined contribution plan employee contribution | 50.00% | ' |
Restructuring_Charges_Net_Rest
Restructuring Charges, Net (Restructuring Charges Activity) (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Restructuring Cost and Reserve [Line Items] | ' | ' |
Restructuring charges, net | $33 | $1,686 |
Restructuring Charges [Member] | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' |
Restructuring charges, net | 33 | 1,606 |
Employee Severance And Related Expenses [Member] | Restructuring Charges [Member] | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' |
Restructuring charges, net | 54 | 1,611 |
Lease Obligation And Other Exit Costs [Member] | Restructuring Charges [Member] | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' |
Restructuring charges, net | -21 | 75 |
Non-Cash Charges [Member] | Restructuring Charges [Member] | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' |
Non cash stock based compensation expense | ' | ($80) |
Restructuring_Charges_Net_Accr
Restructuring Charges, Net (Accrued Restructuring Charges Activity) (Details) (USD $) | 12 Months Ended | 24 Months Ended | 36 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2013 |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' |
Balance at beginning of period | $221 | $416 | ' | ' |
Charges | 33 | 1,686 | ' | ' |
Payments | -186 | -1,861 | ' | ' |
Non-cash adjustments | ' | -20 | ' | ' |
Balance at ending of period | 68 | 221 | 221 | 68 |
Total charges to date | ' | ' | 3,945 | 3,979 |
2012 Restructuring Plan [Member] | ' | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' |
Balance at beginning of period | 71 | ' | ' | ' |
Charges | 54 | 1,685 | ' | ' |
Payments | -105 | -1,597 | ' | ' |
Non-cash adjustments | ' | -17 | ' | ' |
Balance at ending of period | 20 | 71 | 71 | 20 |
Total charges to date | ' | ' | 1,606 | 1,660 |
2011 Restructuring Plan [Member] | ' | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' |
Balance at beginning of period | 150 | 416 | ' | ' |
Charges | -21 | 1 | ' | ' |
Payments | -81 | -264 | ' | ' |
Non-cash adjustments | ' | -3 | ' | ' |
Balance at ending of period | 48 | 150 | 150 | 48 |
Total charges to date | ' | ' | 2,339 | 2,319 |
Employee Severance And Related Expenses [Member] | 2012 Restructuring Plan [Member] | ' | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' |
Balance at beginning of period | 27 | ' | ' | ' |
Charges | 54 | 1,595 | ' | ' |
Payments | -81 | -1,488 | ' | ' |
Non-cash adjustments | ' | -80 | ' | ' |
Balance at ending of period | ' | 27 | 27 | ' |
Total charges to date | ' | ' | 1,531 | 1,585 |
Employee Severance And Related Expenses [Member] | 2011 Restructuring Plan [Member] | ' | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' |
Balance at beginning of period | ' | 39 | ' | ' |
Charges | ' | 1 | ' | ' |
Payments | ' | -40 | ' | ' |
Total charges to date | ' | ' | 1,450 | 1,452 |
Lease Obligation And Other Exit Costs [Member] | 2012 Restructuring Plan [Member] | ' | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' |
Balance at beginning of period | 44 | ' | ' | ' |
Charges | ' | 90 | ' | ' |
Payments | -24 | -109 | ' | ' |
Non-cash adjustments | ' | 63 | ' | ' |
Balance at ending of period | 20 | 44 | 44 | 20 |
Total charges to date | ' | ' | 75 | 75 |
Lease Obligation And Other Exit Costs [Member] | 2011 Restructuring Plan [Member] | ' | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' |
Balance at beginning of period | 150 | 377 | ' | ' |
Charges | -21 | ' | ' | ' |
Payments | -81 | -224 | ' | ' |
Non-cash adjustments | ' | -3 | ' | ' |
Balance at ending of period | 48 | 150 | 150 | 48 |
Total charges to date | ' | ' | 830 | 808 |
Non-Cash Charges [Member] | 2011 Restructuring Plan [Member] | ' | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' |
Total charges to date | ' | ' | $59 | $59 |
Restructuring_Charges_Net_Accr1
Restructuring Charges, Net (Accrued Restructuring Charges Included in Balance Sheet) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
In Thousands, unless otherwise specified | |||
Restructuring Charges, Net [Abstract] | ' | ' | ' |
Accrued restructuring charges (current liabilities) | $44 | $221 | ' |
Other long-term liabilities | 24 | ' | ' |
Total accrued restructuring charges | $68 | $221 | $416 |
Unaudited_Quarterly_Financial_2
Unaudited Quarterly Financial Data (Details) (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 |
Unaudited Quarterly Financial Data [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net revenues | $16,980 | $21,816 | $21,665 | $15,392 | $17,692 | $19,767 | $20,288 | $16,073 | $75,853 | $73,820 |
Cost of revenues | 9,837 | 12,742 | 12,392 | 8,703 | 10,056 | 11,171 | 11,098 | 8,336 | 43,674 | 40,661 |
Loss from operations | -3,675 | 104 | 342 | -2,154 | -1,893 | -4,946 | 309 | -3,064 | -5,383 | -9,594 |
Net loss | ($3,686) | $94 | $324 | ($2,168) | ($1,995) | ($4,940) | $314 | ($3,057) | ($5,436) | ($9,678) |
Net loss per share: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Basic | ($0.17) | ' | $0.02 | ($0.10) | ($0.10) | ($0.24) | $0.02 | ($0.15) | ' | ' |
Diluted | ($0.17) | ' | $0.01 | ($0.10) | ($0.10) | ($0.24) | $0.02 | ($0.15) | ' | ' |
Weighted average common shares outstanding: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Basic | 21,569 | 21,114 | 20,830 | 20,735 | 20,659 | 20,637 | 20,650 | 20,573 | ' | ' |
Diluted | 21,569 | 22,492 | 21,700 | 20,735 | 20,659 | 20,637 | 20,663 | 20,573 | ' | ' |
Schedule_II_Valuation_and_Qual1
Schedule II - Valuation and Qualifying Accounts (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Provision For Doubtful Accounts [Member] | ' | ' |
Valuation and Qualifying Accounts Disclosure [Line Items] | ' | ' |
Balance at Beginning of Year | $15 | $35 |
Charged to Costs and Expense | 15 | ' |
Deductions | 7 | 20 |
Balance at End of Year | 7 | 15 |
Deferred Tax Assets Valuation [Member] | ' | ' |
Valuation and Qualifying Accounts Disclosure [Line Items] | ' | ' |
Balance at Beginning of Year | 43,114 | 41,305 |
Charged to Costs and Expense | 1,280 | 1,809 |
Balance at End of Year | $44,394 | $43,114 |