Document_and_Entity_Informatio
Document and Entity Information (USD $) | 12 Months Ended | ||
In Billions, except Share data, unless otherwise specified | Dec. 31, 2013 | Feb. 19, 2014 | Jun. 28, 2013 |
Document And Entity Information [Abstract] | ' | ' | ' |
Document Type | '10-K | ' | ' |
Amendment Flag | 'false | ' | ' |
Document Period End Date | 31-Dec-13 | ' | ' |
Document Fiscal Year Focus | '2013 | ' | ' |
Document Fiscal Period Focus | 'FY | ' | ' |
Entity Registrant Name | 'QLIK TECHNOLOGIES INC | ' | ' |
Entity Central Index Key | '0001305294 | ' | ' |
Current Fiscal Year End Date | '--12-31 | ' | ' |
Entity Well-known Seasoned Issuer | 'Yes | ' | ' |
Entity Current Reporting Status | 'Yes | ' | ' |
Entity Voluntary Filers | 'No | ' | ' |
Entity Filer Category | 'Large Accelerated Filer | ' | ' |
Entity Common Stock, Shares Outstanding | ' | 89,117,282 | ' |
Entity Public Float | ' | ' | $2.40 |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Current assets: | ' | ' |
Cash and cash equivalents | $227,693 | $195,803 |
Accounts receivable, net | 162,009 | 144,475 |
Prepaid expenses and other current assets | 16,296 | 14,455 |
Deferred income taxes | 1,886 | 1,211 |
Total current assets | 407,884 | 355,944 |
Property and equipment, net | 21,500 | 17,048 |
Intangible assets, net | 12,695 | 5,625 |
Goodwill | 21,233 | 7,367 |
Deferred income taxes | 2,107 | 1,761 |
Deposits and other noncurrent assets | 2,503 | 2,628 |
Total assets | 467,922 | 390,373 |
Current liabilities: | ' | ' |
Income taxes payable | 2,634 | 4,154 |
Accounts payable | 5,262 | 7,128 |
Deferred revenue | 98,684 | 84,197 |
Accrued payroll and other related costs | 46,780 | 36,976 |
Accrued expenses | 29,495 | 26,075 |
Deferred income taxes | 544 | 150 |
Total current liabilities | 183,399 | 158,680 |
Long-term liabilities: | ' | ' |
Deferred revenue | 3,637 | 1,745 |
Deferred income taxes | 894 | 512 |
Other long-term liabilities | 7,822 | 3,874 |
Total liabilities | 195,752 | 164,811 |
Commitments and contingencies | ' | ' |
Stockholders' equity: | ' | ' |
Preferred stock, $0.0001 par value, 10,000,000 authorized, none issued and outstanding at December 31, 2013 and December 31, 2012 | ' | ' |
Common stock, $0.0001 par value, 300,000,000 shares authorized; 88,989,091 issued and outstanding at December 31, 2013 and 86,286,292 issued and outstanding at December 31, 2012 | 9 | 9 |
Additional paid-in-capital | 265,711 | 209,614 |
Retained earnings | 3,037 | 13,016 |
Accumulated other comprehensive income | 3,413 | 2,923 |
Total stockholders' equity | 272,170 | 225,562 |
Total liabilities and stockholders' equity | $467,922 | $390,373 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
Statement Of Financial Position [Abstract] | ' | ' |
Preferred stock, par value | $0.00 | $0.00 |
Preferred stock, shares authorized | 10,000,000 | 10,000,000 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Common stock, par value | $0.00 | $0.00 |
Common stock, shares authorized | 300,000,000 | 300,000,000 |
Common stock, shares issued | 88,989,091 | 86,286,292 |
Common stock, outstanding | 88,989,091 | 86,286,292 |
Consolidated_Statements_of_Ope
Consolidated Statements of Operations (USD $) | 12 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Revenue: | ' | ' | ' |
License revenue | $270,769 | $238,674 | $204,414 |
Maintenance revenue | 160,552 | 120,490 | 89,129 |
Professional services revenue | 39,129 | 29,373 | 27,076 |
Total revenue | 470,450 | 388,537 | 320,619 |
Cost of revenue: | ' | ' | ' |
License revenue | 7,345 | 5,058 | 3,540 |
Maintenance revenue | 10,585 | 8,526 | 6,787 |
Professional services revenue | 43,893 | 29,705 | 24,020 |
Total cost of revenue | 61,823 | 43,289 | 34,347 |
Gross profit | 408,627 | 345,248 | 286,272 |
Operating expenses: | ' | ' | ' |
Sales and marketing | 255,010 | 211,314 | 178,456 |
Research and development | 60,400 | 39,995 | 24,870 |
General and administrative | 89,795 | 79,309 | 63,287 |
Total operating expenses | 405,205 | 330,618 | 266,613 |
Income from operations | 3,422 | 14,630 | 19,659 |
Other expense, net: | ' | ' | ' |
Interest income, net | 231 | 250 | 263 |
Foreign exchange losses and other expense, net | -2,753 | -3,141 | -1,058 |
Total other expense, net | -2,522 | -2,891 | -795 |
Income before provision for income taxes | 900 | 11,739 | 18,864 |
Benefit (provision) for income taxes | -10,879 | -7,900 | -9,820 |
Net income (loss) | ($9,979) | $3,839 | $9,044 |
Net income (loss) per common share: | ' | ' | ' |
Basic | ($0.11) | $0.04 | $0.11 |
Diluted | ($0.11) | $0.04 | $0.11 |
Weighted average number of common shares: | ' | ' | ' |
Basic | 87,702,222 | 85,423,074 | 82,043,958 |
Diluted | 87,702,222 | 87,640,844 | 85,574,414 |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Income (Loss) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Statement Of Income And Comprehensive Income [Abstract] | ' | ' | ' |
Net income (loss) | ($9,979) | $3,839 | $9,044 |
Foreign currency translation gains (losses) | 490 | 2,631 | -829 |
Comprehensive income (loss) | ($9,489) | $6,470 | $8,215 |
Consolidated_Statements_of_Sto
Consolidated Statements of Stockholders' Equity (USD $) | Total | Stockholders' Equity Common Stock [Member] | Stockholders' Equity Additional Paid-in-Capital [Member] | Stockholders' Equity Retained Earnings [Member] | Stockholders' Equity Accumulated Other Comprehensive Income [Member] |
In Thousands, except Share data | |||||
Balance at Dec. 31, 2010 | $159,190 | $8 | $157,928 | $133 | $1,121 |
Balance, shares at Dec. 31, 2010 | ' | 78,752,390 | ' | ' | ' |
Exercise of stock options | 9,481 | ' | 9,481 | ' | ' |
Exercise of stock options, shares | 5,604,613 | 5,604,613 | ' | ' | ' |
Vesting of restricted stock units | ' | 40,820 | ' | ' | ' |
Stock-based compensation expense | 10,206 | ' | 10,206 | ' | ' |
Excess tax benefit from stock-based compensation | 2,443 | ' | 2,443 | ' | ' |
Net income (loss) | 9,044 | ' | ' | 9,044 | ' |
Foreign currency translation adjustment | -829 | ' | ' | ' | -829 |
Balance at Dec. 31, 2011 | 189,535 | 8 | 180,058 | 9,177 | 292 |
Balance, shares at Dec. 31, 2011 | ' | 84,397,823 | ' | ' | ' |
Exercise of stock options | 5,453 | 1 | 5,452 | ' | ' |
Exercise of stock options, shares | 1,833,377 | 1,833,377 | ' | ' | ' |
Vesting of restricted stock units | ' | 55,092 | ' | ' | ' |
Stock-based compensation expense | 19,315 | ' | 19,315 | ' | ' |
Excess tax benefit from stock-based compensation | 4,789 | ' | 4,789 | ' | ' |
Net income (loss) | 3,839 | ' | ' | 3,839 | ' |
Foreign currency translation adjustment | 2,631 | ' | ' | ' | 2,631 |
Balance at Dec. 31, 2012 | 225,562 | 9 | 209,614 | 13,016 | 2,923 |
Balance, shares at Dec. 31, 2012 | ' | 86,286,292 | ' | ' | ' |
Exercise of stock options | 23,132 | ' | 23,132 | ' | ' |
Exercise of stock options, shares | 2,572,273 | 2,572,273 | ' | ' | ' |
Vesting of restricted stock units | ' | 93,842 | ' | ' | ' |
Exercise of MVSSSARs | ' | 36,684 | ' | ' | ' |
Stock-based compensation expense | 28,918 | ' | 28,918 | ' | ' |
Excess tax benefit from stock-based compensation | 4,047 | ' | 4,047 | ' | ' |
Net income (loss) | -9,979 | ' | ' | -9,979 | ' |
Foreign currency translation adjustment | 490 | ' | ' | ' | 490 |
Balance at Dec. 31, 2013 | $272,170 | $9 | $265,711 | $3,037 | $3,413 |
Balance, shares at Dec. 31, 2013 | ' | 88,989,091 | ' | ' | ' |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Cash flows from operating activities | ' | ' | ' |
Net income (loss) | ($9,979) | $3,839 | $9,044 |
Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ' | ' | ' |
Depreciation and amortization | 8,228 | 5,255 | 2,971 |
Stock-based compensation expense | 28,918 | 19,315 | 10,206 |
Excess tax benefit from stock-based compensation | -4,047 | -4,789 | -2,443 |
Other non-cash items | 517 | 2,005 | 4,189 |
Changes in assets and liabilities: | ' | ' | ' |
Accounts receivable | -18,667 | -32,591 | -29,442 |
Prepaid expenses and other assets | -2,059 | -4,098 | -3,309 |
Income taxes | -1,520 | 2,516 | -6,793 |
Deferred revenue | 15,625 | 17,403 | 18,552 |
Accrued expenses and other liabilities | 12,709 | 18,837 | 13,718 |
Net cash provided by operating activities | 29,725 | 27,692 | 16,693 |
Cash flows from investing activities | ' | ' | ' |
Acquisitions, net of cash acquired | -13,351 | -10,792 | ' |
Capital expenditures | -9,639 | -10,334 | -7,767 |
Net cash used in investing activities | -22,990 | -21,126 | -7,767 |
Cash flows from financing activities | ' | ' | ' |
Proceeds from exercise and issuance of common stock options and warrants | 23,132 | 5,453 | 9,481 |
Excess tax benefit on stock-based compensation | 4,047 | 4,789 | 2,443 |
Payments on contingent consideration | -1,456 | -202 | -179 |
Borrowings (payments) on line of credit, net | -1 | -356 | 379 |
Net cash provided by financing activities | 25,722 | 9,684 | 12,124 |
Effect of exchange rates on cash | -567 | 2,140 | -2,349 |
Net increase in cash and cash equivalents | 31,890 | 18,390 | 18,701 |
Cash and cash equivalents, beginning of period | 195,803 | 177,413 | 158,712 |
Cash and cash equivalents, end of period | 227,693 | 195,803 | 177,413 |
Supplemental cash flow information: | ' | ' | ' |
Cash paid during the period for income taxes | 10,505 | 2,682 | 13,803 |
Non-cash investing activities: | ' | ' | ' |
Tenant improvement allowance received under operating lease | $91 | $542 | $1,764 |
Description_of_Business
Description of Business | 12 Months Ended | |
Dec. 31, 2013 | ||
Accounting Policies [Abstract] | ' | |
Description of Business | ' | |
-1 | Description of Business | |
Qlik Technologies Inc. (“We”, “Qlik” or the “Company”) has pioneered a powerful, user-driven business intelligence (“BI”) solution that enables its customers to make better and faster business decisions, wherever they are. The Company’s Business Discovery platform helps people create and share insights and analysis in group and across organizations. Business users can explore data, ask and answer their own stream of questions and follow their own path to insight on their own and in teams and groups. Through its wholly owned subsidiaries, the Company sells software solutions that are powered by the Company’s in-memory engine which maintains associations in data and calculates aggregations rapidly, as needed. The Company’s Business Discovery platform is designed to give customers significant improvements in usability, flexibility and performance at lower costs compared to traditional BI solutions. | ||
Significant_Accounting_Policie
Significant Accounting Policies | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Accounting Policies [Abstract] | ' | ||||||||||||
Significant Accounting Policies | ' | ||||||||||||
-2 | Significant Accounting Policies | ||||||||||||
Basis of Presentation and Consolidation | |||||||||||||
The consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All material intercompany balances and transactions have been eliminated. Prior year amounts have been reclassified where appropriate to conform to the current year classification for comparative purposes. | |||||||||||||
Use of Estimates | |||||||||||||
The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States (“U.S. GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. | |||||||||||||
The Company evaluates its estimates, including those related to the accounts receivable allowance, useful lives of long-lived assets, the recoverability of goodwill and other intangible assets, assessing fair values of assets and liabilities acquired in and contingent consideration related to business acquisitions, and assumptions used for the purpose of determining stock-based compensation expense and income taxes, among others. The Company bases its estimates on historical experience and on various other assumptions that are believed to be reasonable, the results of which form the basis for making judgments about the carrying value of assets and liabilities as well as reported revenue and expenses during the periods presented. | |||||||||||||
Foreign Currency Translation | |||||||||||||
The financial statements of the Company’s foreign operations are measured using the local currency as the functional currency. The local currency assets and liabilities are translated at the rate of exchange to the United States (“U.S.”) dollar on the balance sheet date and the local currency revenues and expenses are translated at average rates of exchange to the U.S. dollar during the reporting periods. Foreign currency transaction gains (losses) have been reflected as a component of other expense, net within the Company’s consolidated statements of operations and foreign currency translation gains (losses) have been included as a component of the Company’s consolidated statements of comprehensive income (loss) and accumulated other comprehensive income (loss) within the Company’s consolidated balance sheets. | |||||||||||||
Cash and Cash Equivalents | |||||||||||||
The Company considers all highly liquid investments having an original maturity of three months or less when purchased to be cash equivalents. The Company maintains deposits with financial institutions, the balances of which from time to time exceed the federally insured amount. These balances could be impacted if the underlying financial depository institutions or the guarantors fail or could be subject to adverse conditions in the financial markets. | |||||||||||||
Accounts Receivable | |||||||||||||
The Company makes estimates regarding the collectability of its accounts receivable. When the Company evaluates the adequacy of its allowance for doubtful accounts, it considers multiple factors, including historical write-off experience, the need for specific customer reserves, the aging of receivables, customer creditworthiness and changes in customer payment cycles. If any of the factors used to calculate the allowance for doubtful accounts change or if the allowance does not reflect the Company’s future ability to collect outstanding receivables, additional provisions for doubtful accounts may be needed, and future results of operations could be materially affected. Once the outstanding receivable is determined to be uncollectible and all efforts at collection have been exhausted, the outstanding receivable is written-off. | |||||||||||||
The following table summarizes the changes in the Company’s allowance for doubtful accounts for the period indicated: | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Balance at the beginning of the period | $ | 704 | $ | 891 | $ | 807 | |||||||
Amounts to expense | 1,829 | 2,120 | 468 | ||||||||||
Accounts written off | (1,091 | ) | (2,307 | ) | (384 | ) | |||||||
Balance at the end of the period | $ | 1,442 | $ | 704 | $ | 891 | |||||||
Concentration of Market Risk | |||||||||||||
The Company is exposed to certain financial risks, including fluctuations in foreign currency exchange rates and interest rates. The Company manages its exposure to these market risks through internally established policies and procedures. The Company’s policies do not allow speculation in derivative instruments for profit or execution of derivative instrument contracts for which there are no underlying exposures. The Company does not use financial instruments for trading purposes and the Company is not a party to any leveraged derivatives. The Company monitors its underlying market risk exposures on an ongoing basis and believes that it can modify or adapt its hedging strategies as needed. | |||||||||||||
The Company does not believe its business is substantially dependent on any particular customer as no customer represented more than 2% of its revenue in 2013, 2012 or 2011. The Company’s target markets are not confined to certain industries and geographies as it is focused on providing a solution that generally meets the needs of all business users. As of December 31, 2013, the Company’s global partner network was comprised of more than 1,700 partners in over 100 countries. No individual partner represented more than 2% of the Company’s revenues in the fiscal year ended December 31, 2013 and no individual partner represented more than 3% of the Company’s revenues in the fiscal years ended December 31, 2012 and 2011. | |||||||||||||
Concentration of Credit Risk | |||||||||||||
The Company’s principal financial instruments subject to potential concentration of credit risk are cash and cash equivalents and accounts receivable, which are unsecured. The Company’s cash and cash equivalents are maintained at various financial institutions across different geographies. Deposits held with banks may at times exceed the amount of insurance provided on such deposits. Generally, these deposits may be redeemed upon demand and, therefore, management believes they bear minimal risk. Concentration of credit risk with respect to trade accounts receivables is generally limited by a large customer base and its geographic dispersion. The Company believes it has a wide customer base consisting of Fortune 500 corporations, universities, large international companies and other smaller businesses. As of and for the years ended December 31, 2013, 2012 and 2011, there were no significant concentrations with respect to the Company’s consolidated revenue or accounts receivable. | |||||||||||||
Property and Equipment | |||||||||||||
Property and equipment are recorded at cost. Depreciation is computed using the straight-line method over estimated useful lives of the assets. The estimated useful lives are as follows: three years for computers and equipment and five years for furniture and fixtures. Leasehold improvements are amortized over the shorter of the asset’s useful life or the remaining term of the lease. | |||||||||||||
Expenditures for major additions and improvements are capitalized, while minor replacements, maintenance and repairs are charged to expense as incurred. When property is retired or otherwise disposed of, the costs and accumulated depreciation are removed from the accounts. Any resulting gain or loss is recognized concurrently. | |||||||||||||
Long-lived Assets | |||||||||||||
The Company considers whether indicators of impairment of long-lived assets held for use, including identified intangible assets, are present. If such indicators are present, the Company determines whether the sum of the estimated undiscounted future cash flows attributable to such assets is less than their carrying amount, and if so, the Company recognizes an impairment loss based on the excess of the carrying amount of the assets over their fair value. No circumstances or events indicated impairment to long-lived assets during the years ended December 31, 2013, 2012 or 2011. | |||||||||||||
Business Combinations | |||||||||||||
The Company recognizes assets acquired, liabilities assumed and any contingent consideration related to business combinations at fair value on the date of acquisition. The purchase price allocation process requires management to make significant estimates and assumptions with respect to the fair value of any intangible assets acquired, deferred revenues assumed, or contingent consideration within the arrangement. Unanticipated events and circumstances may occur which may affect the accuracy or validity of such assumptions or estimates. All subsequent changes to a valuation allowance or uncertain tax position related to the acquired company that occur within the measurement period and are based on facts and circumstances that existed at the acquisition date are recognized as an adjustment to goodwill. | |||||||||||||
Acquisition-related transaction costs, including legal and accounting fees and other external costs directly related to the acquisition, are recognized separately from the acquisition and expensed as incurred in general and administrative expenses in the consolidated statements of operations. | |||||||||||||
Goodwill and Other Intangible Assets | |||||||||||||
Goodwill represents the excess of the purchase price of an acquired business over the fair value of the underlying net tangible and intangible assets acquired. The Company tests goodwill for impairment annually on October 1, or whenever events or changes in circumstances indicate an impairment. If it is determined that an impairment has occurred, the Company will record a write-down of the carrying value and charge the impairment as an operating expense in the period the determination is made. Although the Company believes goodwill is appropriately stated in the consolidated financial statements, changes in strategy or market conditions could significantly impact these judgments and require an adjustment to the recorded balance. There was no impairment during the years ended December 31, 2013, 2012 and 2011. | |||||||||||||
Intangible assets that are not considered to have an indefinite life are amortized over their useful lives on a straight-line basis. On a periodic basis, the Company evaluates the estimated remaining useful life of acquired intangible assets and whether events or changes in circumstances warrant a revision to the remaining period of amortization. The carrying amounts of these assets are periodically reviewed for impairment whenever events or changes in circumstances indicate that the carrying value of these assets may not be recoverable. The cost of intangible assets are amortized on a straight-line basis over their estimated useful lives ranging from three to nine years. | |||||||||||||
Revenue Recognition | |||||||||||||
The Company derives its revenues from three sources: (i) license revenues; (ii) maintenance revenues; and (iii) professional services revenues. The majority of license revenue is from the sale of perpetual licenses to customers or resellers. Maintenance, which generally has a contractual term of 12 months, includes telephone and web-based support and rights to software updates and upgrades on a when-and-if-available basis. Professional services include training, implementation, consulting and expert services. | |||||||||||||
For each arrangement, the Company recognizes revenue when (a) persuasive evidence of an arrangement exists (e.g. a signed contract or purchase order); (b) delivery of the product has occurred and there are no remaining obligations or substantive customer acceptance provisions; (c) the fee is fixed or determinable; and (d) collection of the fee is deemed reasonably assured. Delivery is considered to have occurred upon electronic transfer of the license key that provides immediate availability of the product to the purchaser. | |||||||||||||
As substantially all of the Company’s software licenses are sold in multiple-element arrangements that include either maintenance or both maintenance and professional services, the Company uses the residual method to determine the amount of license revenue to be recognized. Under the residual method, consideration is allocated to undelivered elements based upon vendor-specific objective evidence (“VSOE”) of the fair value of those elements, with the residual of the arrangement fee allocated to and recognized as license revenue. The Company has established VSOE of the fair value of maintenance through independent maintenance renewals, which demonstrate a consistent relationship of maintenance pricing as a percentage of the contractual license fee. Maintenance revenue is deferred and recognized ratably over the contractual period of the maintenance arrangement, which is generally 12 months. Arrangements that include other professional services are evaluated to determine whether those services are essential to the functionality of other elements of the arrangement. The Company has determined that these services are not considered essential and the amounts allocated to the services are recognized as revenue when the services are performed. The VSOE of fair value of the Company’s professional services is based on the price for these same services when they are sold separately. Revenue for services that are sold either on a stand-alone basis or included in multiple-element arrangements is recognized as the services are performed. | |||||||||||||
For sales through resellers, the Company recognizes revenue upon the delivery of the product only if those resellers provide the Company, at the time of placing their order, with the identity of the end-user customer to whom the product has been sold. The Company’s resellers do not carry inventory of its software. Sales through resellers are evidenced by a reseller agreement, together with purchase orders on a transaction-by-transaction basis. | |||||||||||||
The Company also sells software licenses to original equipment manufacturers (“OEMs”) who integrate the Company’s product for distribution with their applications. The Company does not offer any rights to return products sold to resellers. The OEM’s end-user customer is licensed to use the Company’s products solely in conjunction with the OEM’s application. In OEM arrangements, key delivery is required as the basis for revenue recognition. The Company recognizes revenue under its OEM arrangements when (a) persuasive evidence of an arrangement exists (e.g. a signed contract or purchase order); (b) delivery of the product has occurred and there are no remaining obligations or substantive customer acceptance provisions; (c) the fee is fixed or determinable; and (d) collection of the fee is deemed reasonably assured. | |||||||||||||
The Company records taxes collected on revenue-producing activities on a net basis. | |||||||||||||
Deferred Revenue | |||||||||||||
Deferred revenue consists of billings or payments received in advance of revenue recognition primarily from the Company’s maintenance agreements described above and is recognized as the revenue recognition criteria are met. The Company generally invoices its customers in annual installments. Accordingly, the deferred revenue balance does not represent the total contract value of annual maintenance agreements. | |||||||||||||
Cost of Revenue | |||||||||||||
Cost of license revenue is primarily comprised of referral fees paid to third parties in connection with software license sales and the amortization of technology related intangible assets acquired. | |||||||||||||
Cost of maintenance revenue is primarily comprised of the costs associated with the customer support personnel that provide maintenance and support services to the Company’s customers. | |||||||||||||
Cost of professional services revenue is primarily comprised of the costs associated with professional services personnel and consultants that provide consulting and training services to the Company’s customers. | |||||||||||||
Product Warranties | |||||||||||||
Substantially all of the Company’s software products are covered by a standard 120 day warranty. In the event of a failure of software covered by this warranty, the Company must repair or replace the software or, if those remedies are insufficient, provide a refund. To date, the Company has not been required to record any reserve or revise any of the Company’s assumptions or estimates used in determining its warranty allowance. If the historical data the Company uses to calculate the adequacy of the warranty allowance is not indicative of future requirements, a warranty reserve may be required. | |||||||||||||
Guarantees | |||||||||||||
The standard commercial terms in the Company’s sales contracts include an indemnification clause that indemnifies the customer against certain liabilities and damages arising from any claims of patent, copyright, or other proprietary rights of any third party. Due to the nature of the intellectual property indemnification provided to the Company’s customers, it cannot estimate the fair value, or determine the total nominal amount, of the indemnification until such time as a claim for such indemnification is made. In the event of a claim made against the Company under such provision, the Company will evaluate estimated losses for such indemnification considering such factors as the degree of probability of an unfavorable outcome and the ability to make a reasonable estimate of the amount of loss. To date, the Company has not had any claims made against it under such provision and, accordingly, has not accrued any liabilities related to such indemnifications in its consolidated financial statements. | |||||||||||||
Commissions | |||||||||||||
The Company records commission expense related to license sales in the period in which the sale is made. For arrangements that consist solely of professional services, commission expense is recorded in the period in which the professional services have been rendered. | |||||||||||||
Research and Development | |||||||||||||
Software development costs are generally expensed as incurred until technological feasibility has been established, at which time such costs are capitalized to the extent that the capitalizable costs do not exceed the realizable value of such costs, until the product is available for general release to customers. Based on the Company’s product development process, technological feasibility is established upon the completion of a working model of the software product that has been tested to be consistent with the product design specifications and that is free of any uncertainties related to high-risk development issues. Costs incurred by the Company between completion of the working model and the point at which the product is ready for general release have been insignificant. Accordingly, the Company generally charges all such costs to research and development expense in the accompanying consolidated statements of operations. | |||||||||||||
Advertising | |||||||||||||
Advertising costs are charged to operations as incurred and include direct marketing, events, public relations, sales collateral materials and partner programs. Advertising expense was approximately $22.5 million, $21.0 million and $20.8 million for the years ended December 31, 2013, 2012 and 2011, respectively. | |||||||||||||
Income Taxes | |||||||||||||
Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carry forwards. These deferred tax assets and liabilities are measured using enacted tax rates expected to be applied to taxable income in the years in which those temporary differences are expected to be reversed or utilized. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income in the period that includes the enactment date. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more-likely-than-not that some portion or all of the deferred tax assets will not be realized. | |||||||||||||
The Company uses a more-likely-than-not recognition threshold based on the technical merits of tax positions taken. Tax positions that meet the more-likely-than-not recognition threshold are measured as the largest amount of the tax benefits, determined on a cumulative probability basis, which is more-likely-than-not to be realized upon ultimate settlement in the financial statements. The Company recognizes interest and penalties related to income tax matters in provision for income taxes. | |||||||||||||
Stock-Based Compensation | |||||||||||||
The Company recognizes the cost of stock-based compensation based on the fair value of those awards at the date of grant over the requisite service period on a straight line basis. The Company uses the Black-Scholes-Merton (“Black-Scholes”) option pricing model to determine the fair value of common stock option awards. The fair value of a restricted stock unit is determined by using the fair value of the Company’s common stock on the date of grant. The fair value of Maximum Value Stock-settled Stock Appreciation Rights (“MVSSSARs”) is determined by utilizing a lattice model under the option pricing method. Stock-based compensation plans, related expenses and assumptions used in the Black-Scholes option pricing model and the lattice model under the option pricing method are more fully described in Note 11 to these consolidated financial statements. Stock-based compensation expense is recorded within cost of revenue, sales and marketing, research and development and general and administrative expenses in the consolidated statements of operations. | |||||||||||||
The following table sets forth the total stock-based compensation expense included in the consolidated statements of operations for the years ended December 31, 2013, 2012 and 2011: | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Cost of revenue | $ | 2,854 | $ | 1,651 | $ | 701 | |||||||
Sales and marketing | 13,374 | 10,337 | 5,672 | ||||||||||
Research and development | 3,386 | 2,058 | 710 | ||||||||||
General and administrative | 9,304 | 5,269 | 3,123 | ||||||||||
$ | 28,918 | $ | 19,315 | $ | 10,206 | ||||||||
Net Income (Loss) Per Common Share | |||||||||||||
The following table sets forth the computation of basic and diluted net income (loss) per share for the periods indicated: | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Basic net income (loss) per common share calculation: | |||||||||||||
Net income (loss) attributable to common shares | $ | (9,979 | ) | $ | 3,839 | $ | 9,044 | ||||||
Weighted average common shares outstanding | 87,702,222 | 85,423,074 | 82,043,958 | ||||||||||
Basic net income (loss) per common share | $ | (0.11 | ) | $ | 0.04 | $ | 0.11 | ||||||
Diluted net income (loss) per common share calculation: | |||||||||||||
Net income (loss) attributable to common shares | $ | (9,979 | ) | $ | 3,839 | $ | 9,044 | ||||||
Weighted average shares used to compute basic net income (loss) per share | 87,702,222 | 85,423,074 | 82,043,958 | ||||||||||
Effect of potentially dilutive securities: | |||||||||||||
Common stock options and restricted stock units | — | 2,217,770 | 3,530,456 | ||||||||||
Weighted average shares used to compute diluted net income (loss) per share | 87,702,222 | 87,640,844 | 85,574,414 | ||||||||||
Diluted net income (loss) per common share | $ | (0.11 | ) | $ | 0.04 | $ | 0.11 | ||||||
Diluted net income (loss) per common share for the periods presented does not reflect the potential issuance of common shares underlying the following securities as the effect would be anti-dilutive: | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Common stock options | 9,796,816 | 2,515,661 | 3,017,776 | ||||||||||
Restricted stock units | 372,452 | 126,020 | 70,200 | ||||||||||
MVSSSARs | 356,867 | 16,478 | 387,785 | ||||||||||
10,526,135 | 2,658,159 | 3,475,761 | |||||||||||
Recent Accounting Pronouncements | |||||||||||||
From time to time, new accounting pronouncements are issued by the Financial Accounting Standards Board (“FASB”) or other standard setting bodies that are adopted by the Company as of the specified effective date. Unless otherwise discussed, the Company believes that the impact of recently issued standards that are not yet effective will not have a material impact on its financial position or consolidated results of operations upon adoption. | |||||||||||||
In July 2013, the FASB amended its guidance on the financial statement presentation of an unrecognized tax benefit when a net operating loss carryforward, similar tax loss, or a tax credit carryforward exists. This guidance is effective for fiscal periods beginning after December 15, 2013. The adoption of this amendment is not expected to have a material impact on the Company’s consolidated financial statements. |
Acquisitions
Acquisitions | 12 Months Ended | ||||
Dec. 31, 2013 | |||||
Business Combinations [Abstract] | ' | ||||
Acquisitions | ' | ||||
-3 | Acquisitions | ||||
QlikTech Italy | |||||
On October 3, 2013, the Company acquired the ongoing operations of its Italian master reseller (“QlikTech Italy”) that specializes in the distribution of QlikView software and provides maintenance and consulting services related to that software. The Company purchased QlikTech Italy for a total maximum purchase price of approximately 7.5 million euros (approximately $10.2 million based on an exchange rate of 1.355 on October 3, 2013). The total maximum purchase price included approximately $1.4 million of contingent consideration payable upon the achievement of certain revenue targets as set forth in the purchase agreement. At the purchase date, the Company estimated only approximately $0.2 million of contingent consideration would be payable based upon the achievement of certain revenue targets, and therefore, this amount was included in the preliminary purchase price. The results of operations and financial position of QlikTech Italy are included in the Company’s consolidated financial statements from and after the date of acquisition. The inclusion of QlikTech Italy did not have a material impact on the Company’s consolidated financial results for the year ended December 31, 2013. Had the acquisition occurred as of the beginning of the periods presented in these consolidated financial statements, the pro forma statements of operations would not be materially different than the consolidated statements of operations presented. | |||||
The Company is in the process of determining the purchase price allocation including the valuation of intangible assets acquired and liabilities assumed related to the acquisition. The items pending finalization include the valuation of acquired intangible assets, the assumed deferred revenue and the evaluation of deferred income taxes. The Company expects to complete this purchase price allocation during the first quarter of 2014. | |||||
The following table summarizes the preliminary estimated fair values of the assets acquired and liabilities assumed at October 3, 2013 based on an exchange rate of 1.355 (in thousands): | |||||
Cash | $ | — | |||
Other assets | 63 | ||||
Property and equipment | 421 | ||||
Liabilities assumed | (1,397 | ) | |||
Net liabilities assumed | $ | (913 | ) | ||
Deferred tax liability | (959 | ) | |||
Intangible assets | 2,033 | ||||
Goodwill | 8,819 | ||||
Total preliminary purchase price | $ | 8,980 | |||
Of the total estimated purchase price, approximately $2.0 million has been allocated to finite-lived intangible assets acquired, which consists of the preliminary value assigned to QlikTech Italy’s customer relationships. The value assigned to QlikTech Italy’s customer relationships was determined based on the acquired existing customer revenue base, an estimated growth rate on the existing revenue base, an estimated attrition rate and the estimated net cash flows to be generated by this existing customer base, which is discounted to reflect the level of risk associated with receiving future cash flows attributable to the customer relationships. The Company expects to amortize the customer relationships on a straight-line basis over an estimated useful life of nine years. The amortization of intangible assets is not expected to be deductible for income tax purposes. | |||||
Goodwill represents the excess of the purchase price over the net identifiable tangible and intangible assets acquired. The Company believes the goodwill related to the acquisition was a result of the expected synergies to be realized from combining operations and is not expected to be deductible for income tax purposes. | |||||
NComVA AB | |||||
On May 2, 2013, the Company acquired all of the outstanding shares of NComVA AB (“NComVA”), a Swedish software company that specializes in advanced visualization technology, for a purchase price of approximately 70.4 million Swedish kronor ($10.9 million based on an exchange rate of 0.155 at May 2, 2013). The acquisition of NComVA is expected to expand the use of the Company’s Business Discovery platform by providing expertise and capabilities in advanced visualization and analysis to pair with QlikView’s associative approach to delivering a deeper understanding of data, especially when multiple data sources are analyzed together. The results of operations and financial position of NComVA are included in the Company’s consolidated financial statements from and after the date of acquisition. The inclusion of NComVA did not have a material impact on the Company’s consolidated financial results for the year ended December 31, 2013. Had the acquisition occurred as of the beginning of the periods presented in these consolidated financial statements, the pro forma statements of operations would not be materially different than the consolidated statements of operations presented. | |||||
The purchase price for the acquisition of NComVA was approximately $10.9 million. The Company paid approximately $4.9 million of the purchase price to the sellers at closing. In addition, the purchase price includes approximately $2.7 million of deferred purchase price, which is expected to be paid in July 2015, and up to approximately $3.3 million of contingent cash consideration, approximately $1.2 million of which was payable in October 2013 upon achievement of certain product development milestones, and approximately $2.1 million of which is payable in July 2014 upon the achievement of certain product development milestones. The range of undiscounted amounts the Company may be required to pay for the contingent cash consideration is between zero and approximately $3.3 million. The Company estimated that the attainment of these product development milestones was considered highly probable on the purchase date. Accordingly, the Company has included approximately $3.3 million of the contingent cash consideration within the purchase price. In October 2013, the Company determined that the criteria related to the first product development milestone had been attained and accordingly made the first contingent cash consideration payment of approximately $1.2 million to the sellers. | |||||
The following table summarizes the estimated fair values of the assets acquired and liabilities assumed at May 2, 2013 based on an exchange rate of 0.155 (in thousands): | |||||
Cash | $ | 517 | |||
Other assets | 18 | ||||
Liabilities assumed | (473 | ) | |||
Net assets acquired | $ | 62 | |||
Deferred tax liability | (1,605 | ) | |||
Intangible assets | 7,296 | ||||
Goodwill | 5,124 | ||||
Total purchase price | $ | 10,877 | |||
The finite-lived intangible assets relate to acquired technology. The value assigned to NComVA’s acquired technology was determined by employing the cost savings method. Under this method, the value of the acquired technology is determined by calculating the present value of the cost savings that the business expects to make as a result of owning the asset. The Company amortizes the acquired technology on a straight-line basis over an estimated useful life of five years. The amortization of intangible assets is not expected to be deductible for income tax purposes. Accordingly, a deferred tax liability has been recorded as part of the purchase price. | |||||
Goodwill represents the excess of the purchase price over the net identifiable tangible and intangible assets acquired. The Company believes the goodwill related to the acquisition was a result of the expected synergies to be realized from combining operations and is not expected to be deductible for income tax purposes. | |||||
Expressor | |||||
On June 11, 2012, the Company acquired all of the outstanding shares of Expressor, a provider of data management software, for approximately $10.8 million, net of cash acquired. The acquisition of Expressor is expected to expand the use of QlikView’s Business Discovery platform by providing a metadata intelligence solution designed to help companies know what data is being used and how it is being used, while ensuring consistency and appropriate reuse of common data definitions. The results of operations and financial position of Expressor are included in the Company’s consolidated financial statements from and after the date of acquisition. The inclusion of Expressor did not have a material impact on the Company’s consolidated financial results for the year ended December 31, 2012. Had the acquisition occurred as of the beginning of the periods presented in these consolidated financial statements, the pro forma statements of operations would not be materially different than the consolidated statements of operations presented. | |||||
The tangible assets acquired and liabilities assumed in the Expressor acquisition were immaterial. The Company allocated approximately $6.3 million of the purchase price to definite-lived intangible assets, which consists primarily of acquired technology. The value assigned to Expressor’s acquired technology was determined by using the excess earnings method. Under this method, the value of the acquired technology is a function of the estimated obsolescence curve of the acquired technology as of the corresponding valuation date, the expected future net cash flows generated by the acquired technology and the discount rate that reflects the level of risk associated with receiving future cash flows attributable to the acquired technology. The Company amortizes the acquired technology on a straight-line basis over an estimated useful life of five years. | |||||
After allocating the purchase price to the assets acquired and liabilities assumed based on an estimation of their fair values at the date of acquisition, the Company recorded goodwill of approximately $4.7 million related to this acquisition. The Company believes the goodwill related to the acquisition was a result of the expected synergies to be realized from combining operations and is not expected to be deductible for income tax purposes. | |||||
The Company recognized deferred tax assets totaling approximately $7.6 million in connection with the acquisition of Expressor. These deferred tax assets are offset by a full valuation allowance as the realization of such assets is uncertain. These deferred tax assets include acquired federal net operating loss carryforwards totaling approximately $11.7 million, which may be subject to limitation under Section 382 of the Internal Revenue Code of 1986 due to ownership change limitations that may have occurred previously or that could occur in the future. These ownership changes may limit the amount of net operating loss carryforwards that can be utilized annually to offset future taxable income. | |||||
Goodwill_and_Other_Intangible_
Goodwill and Other Intangible Assets | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
Goodwill And Intangible Assets Disclosure [Abstract] | ' | ||||||||||||||||||||||||
Goodwill and Other Intangible Assets | ' | ||||||||||||||||||||||||
-4 | Goodwill and Other Intangible Assets | ||||||||||||||||||||||||
The Company tests goodwill resulting from acquisitions for impairment annually on October 1, or whenever events or changes in circumstances indicate an impairment. There was no impairment in the years ended December 31, 2013, 2012 or 2011. | |||||||||||||||||||||||||
The following table provides a rollforward of the Company’s goodwill: | |||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||
Balance at January 1 | $ | 7,367 | $ | 2,800 | |||||||||||||||||||||
Acquisitions | 13,943 | 4,701 | |||||||||||||||||||||||
Impact of foreign currency translation | (77 | ) | (134 | ) | |||||||||||||||||||||
Balance at December 31 | $ | 21,233 | $ | 7,367 | |||||||||||||||||||||
The following table provides information regarding the Company’s intangible assets subject to amortization: | |||||||||||||||||||||||||
December 31, 2013 | December 31, 2012 | ||||||||||||||||||||||||
Gross | Accumulated | Net | Gross | Accumulated | Net | ||||||||||||||||||||
Amount | Amortization | Amount | Amount | Amortization | Amount | ||||||||||||||||||||
Acquired technology | $ | 13,442 | $ | (3,020 | ) | $ | 10,422 | $ | 6,120 | $ | (858 | ) | $ | 5,262 | |||||||||||
Customer relationships and other identified intangible assets | 2,775 | (690 | ) | 2,085 | 735 | (690 | ) | 45 | |||||||||||||||||
Trade names | 391 | (203 | ) | 188 | 390 | (72 | ) | 318 | |||||||||||||||||
Total | $ | 16,608 | $ | (3,913 | ) | $ | 12,695 | $ | 7,245 | $ | (1,620 | ) | $ | 5,625 | |||||||||||
Amortization of intangible assets was approximately $2.3 million, $0.9 million, and $0.2 million for the years ended December 31, 2013, 2012 and 2011, respectively. The estimated aggregate amortization expense for each of the succeeding years is as follows: approximately $3.1 million in 2014; $2.9 million in 2015; $2.9 million in 2016; $2.2 million in 2017; $0.7 million in 2018 and $0.9 million thereafter through 2022. The weighted average amortization period for all intangible assets is approximately 5.4 years. The weighted average amortization periods for acquired technology is 5.0 years, customer relationships and other identified intangible assets is 7.5 years and trade names is 3.0 years. | |||||||||||||||||||||||||
Fair_Value_Measurements
Fair Value Measurements | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||
Fair Value Measurements | ' | ||||||||||||||||
-5 | Fair Value Measurements | ||||||||||||||||
Fair value is defined as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining the fair value measurements for assets and liabilities required or permitted to be recorded at fair value, the Company considers the principal or most advantageous market in which it would transact and it considers assumptions that market participants would use when pricing the asset or liability. The Company evaluates the fair value of certain assets and liabilities using the following fair value hierarchy which ranks the quality and reliability of inputs, or assumptions, used in the determination of fair value: | |||||||||||||||||
• | Level 1 – quoted prices in active markets for identical assets and liabilities | ||||||||||||||||
• | Level 2 – inputs other than Level 1 quoted prices that are directly or indirectly observable | ||||||||||||||||
• | Level 3 – unobservable inputs that are not corroborated by market data | ||||||||||||||||
The Company evaluates assets and liabilities subject to fair value measurements on a recurring and non-recurring basis to determine the appropriate level to classify them for each reporting period. This determination requires significant judgments to be made by the Company. The following table sets forth the Company’s assets and liabilities that were measured at fair value as of December 31, 2013 and 2012, by level within the fair value hierarchy: | |||||||||||||||||
Amounts at | Fair Value Measurement Using | ||||||||||||||||
Fair Value | Level 1 | Level 2 | Level 3 | ||||||||||||||
As of December 31, 2013 | |||||||||||||||||
Assets | |||||||||||||||||
Cash and cash equivalents | $ | 227,693 | $ | 227,693 | $ | — | $ | — | |||||||||
Liabilities | |||||||||||||||||
Accrued contingent consideration | $ | 2,263 | $ | — | $ | — | $ | 2,263 | |||||||||
As of December 31, 2012 | |||||||||||||||||
Assets | |||||||||||||||||
Cash and cash equivalents | $ | 195,803 | $ | 195,803 | $ | — | $ | — | |||||||||
Liabilities | |||||||||||||||||
Accrued contingent consideration | $ | 317 | $ | — | $ | — | $ | 317 | |||||||||
A reconciliation of the beginning and ending balances of acquisition related accrued contingent consideration using significant unobservable inputs (Level 3) for the year ended December 31, 2013 follows: | |||||||||||||||||
Accrued contingent consideration as of December 31, 2012 | $ | 317 | |||||||||||||||
Acquisition date fair value of contingent consideration | 3,496 | ||||||||||||||||
Change in fair value of contingent consideration | (94 | ) | |||||||||||||||
Payment of contingent consideration | (1,456 | ) | |||||||||||||||
Accrued contingent consideration as of December 31, 2013 | $ | 2,263 | |||||||||||||||
The accrued contingent consideration liability is related to acquisition related contingent consideration of approximately $3.5 million that is payable based on the achievement of certain product development milestones related to the NComVA acquisition and based on the achievement of certain revenue targets related to the QlikTech Italy acquisition. The change in fair value of the contingent consideration is due to foreign exchange losses during the year ended December 31, 2013. | |||||||||||||||||
Assets and liabilities that are measured at fair value on a non-recurring basis include intangible assets and goodwill. These items are recognized at fair value in the period in which an acquisition is completed, or when they are considered to be impaired. During the year ended December 31, 2013, the Company completed the acquisition of NComVA and QlikTech Italy (See Note 3), and recorded the fair value of the assets acquired and liabilities assumed on the date of acquisition. These non-recurring fair value measurements, primarily for intangible assets acquired, were based on Level 3 unobservable inputs. There were no other non-recurring fair value adjustments recorded during the year ended December 31, 2013. | |||||||||||||||||
Property_and_Equipment_Net
Property and Equipment, Net | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Property Plant And Equipment [Abstract] | ' | ||||||||
Property and Equipment, Net | ' | ||||||||
-6 | Property and Equipment, net | ||||||||
The following is a summary of property and equipment, net: | |||||||||
December 31, | |||||||||
2013 | 2012 | ||||||||
Computers and equipment | $ | 20,298 | $ | 14,858 | |||||
Furniture and fixtures | 7,854 | 5,003 | |||||||
Leasehold improvements | 7,100 | 5,938 | |||||||
35,252 | 25,799 | ||||||||
Less: accumulated depreciation | (13,752 | ) | (8,751 | ) | |||||
$ | 21,500 | $ | 17,048 | ||||||
Depreciation and amortization expense relating to property and equipment totaled approximately $5.7 million, $4.4 million and $2.8 million for the years ended December 31, 2013, 2012 and 2011, respectively. | |||||||||
Provision_for_Income_Taxes
Provision for Income Taxes | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||||||
Provision for Income Taxes | ' | ||||||||||||
-7 | Provision for Income Taxes | ||||||||||||
The effective tax rates for the year ended December 31, 2013, 2012 and 2011 were 1208.8%, 67.3% and 52.1%, respectively. | |||||||||||||
Income before provision for income taxes is allocated as follows: | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
U.S. operations | $ | (2,259 | ) | $ | (3,452 | ) | $ | (6,965 | ) | ||||
Foreign operations | 3,159 | 15,191 | 25,829 | ||||||||||
Income before provision for income taxes | $ | 900 | $ | 11,739 | $ | 18,864 | |||||||
Provision (benefit) for income taxes is comprised of the following: | |||||||||||||
Current | Deferred | Total | |||||||||||
Year ended December 31, 2013: | |||||||||||||
U.S. federal | $ | 2,524 | $ | — | $ | 2,524 | |||||||
State and local | 390 | — | 390 | ||||||||||
Foreign | 10,411 | (2,446 | ) | 7,965 | |||||||||
$ | 13,325 | $ | (2,446 | ) | $ | 10,879 | |||||||
Year ended December 31, 2012 (1): | |||||||||||||
U.S. federal | $ | 2,772 | $ | — | $ | 2,772 | |||||||
State and local | 485 | — | 485 | ||||||||||
Foreign | 5,295 | (652 | ) | 4,643 | |||||||||
$ | 8,552 | $ | (652 | ) | $ | 7,900 | |||||||
Year ended December 31, 2011 (1): | |||||||||||||
U.S. federal | $ | 1,026 | $ | 1,105 | $ | 2,131 | |||||||
State and local | 290 | 222 | 512 | ||||||||||
Foreign | 7,938 | (761 | ) | 7,177 | |||||||||
$ | 9,254 | $ | 566 | $ | 9,820 | ||||||||
-1 | The provisions for income taxes for the years ended December 31, 2012 and 2011 were revised to reclassify a portion of the total expense that was previously reported as deferred expense to current expense. | ||||||||||||
The provision for income taxes differs from the amount of taxes determined by applying the U.S. federal statutory income tax rate to income before the provision for income taxes as a result of the following: | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
U.S. federal statutory income tax | $ | 306 | $ | 3,991 | $ | 6,414 | |||||||
Increase (reduction) in income taxes resulting from: | |||||||||||||
Effect of foreign operations | 283 | (1,394 | ) | (1,990 | ) | ||||||||
Foreign tax credit | — | — | (1,658 | ) | |||||||||
Change in valuation allowance and other reserves against tax assets | 6,411 | 3,564 | 6,076 | ||||||||||
State and local income taxes, net of federal income tax benefit | 257 | 320 | 338 | ||||||||||
Permanent differences | 3,236 | 1,792 | 1,042 | ||||||||||
Unrecognized tax benefits | (192 | ) | (453 | ) | (198 | ) | |||||||
Other | 578 | 80 | (204 | ) | |||||||||
Total | $ | 10,879 | $ | 7,900 | $ | 9,820 | |||||||
Deferred tax assets and liabilities reflect the net tax effects of temporary differences between the carrying amount of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. | |||||||||||||
Significant components of the Company’s deferred tax assets and liabilities are as follows: | |||||||||||||
December 31, 2013 | December 31, 2012 | ||||||||||||
Deferred tax assets: | |||||||||||||
Accrued expenses | $ | 2,705 | $ | 1,962 | |||||||||
Foreign tax credits | 2,436 | 2,436 | |||||||||||
Stock-based compensation | 9,430 | 6,379 | |||||||||||
Other assets | 2,448 | 2,209 | |||||||||||
Net operating loss carryforwards | 5,873 | 8,785 | |||||||||||
Total gross deferred tax assets | 22,892 | 21,771 | |||||||||||
Less: valuation allowance | (15,280 | ) | (18,667 | ) | |||||||||
Net deferred tax assets | 7,612 | 3,104 | |||||||||||
Deferred tax liabilities: | |||||||||||||
Depreciation and amortization | (4,707 | ) | (541 | ) | |||||||||
Other | (350 | ) | (253 | ) | |||||||||
Total deferred tax liabilities | (5,057 | ) | (794 | ) | |||||||||
Total net deferred tax assets | $ | 2,555 | $ | 2,310 | |||||||||
As reported | |||||||||||||
Deferred tax assets, current | $ | 1,886 | $ | 1,211 | |||||||||
Deferred tax assets, non-current | 2,107 | 1,761 | |||||||||||
Deferred tax liabilities, current | (544 | ) | (150 | ) | |||||||||
Deferred tax liabilities, non-current | (894 | ) | (512 | ) | |||||||||
Total net deferred tax assets | $ | 2,555 | $ | 2,310 | |||||||||
The following table summarizes the changes in the Company’s valuation allowance on deferred tax assets for the period indicated: | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Balance at the beginning of the period | $ | 18,667 | $ | 7,903 | $ | 1,824 | |||||||
Amounts charged to (reducing) expense | (3,166 | ) | 3,564 | 6,076 | |||||||||
Acquisition related | — | 7,436 | — | ||||||||||
Other increases (decreases) | (221 | ) | (236 | ) | 3 | ||||||||
Balance at the end of the period | $ | 15,280 | $ | 18,667 | $ | 7,903 | |||||||
Based on a current evaluation of expected future taxable income, the Company determined it is not more-likely-than-not that all domestic deferred tax assets will be realized. Therefore, the Company maintained a full valuation allowance on all U.S. deferred tax assets during the year ended December 31, 2013. | |||||||||||||
In assessing the realizability of deferred tax assets, management considers whether it is more-likely-than-not that some portion or all of the deferred tax assets will not be realized in the near term. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. Based upon the level of historical taxable income and projections for future taxable income over the periods in which the deferred tax assets are deductible as of December 31, 2013, management believes it is more-likely-than-not that the Company will realize certain of the benefits associated with the deductible differences in foreign jurisdictions. The Company does not believe it is more-likely-than-not that it will realize the benefits associated with the majority of its remaining net deferred tax assets and it has established a valuation allowance due to the uncertainty. The amount of the deferred tax asset considered realizable could be reduced in the near term if estimates of future taxable income during the carry forward period are reduced. | |||||||||||||
As of December 31, 2013, the Company has approximately $12.7 million of U.S. federal net operating loss carry forwards, approximately $25.2 million of state net operating loss carry forwards and approximately $7.3 million of foreign net operating loss carry forwards. The majority of these net operating loss carry forwards will expire, if unused, between 2020 and 2032. The Company also has approximately $2.4 million of federal tax credits that will expire, if unused, in 2020. | |||||||||||||
Utilization of U.S. federal and state net operating loss carry forwards may be subject to limitations under Section 382 of the Internal Revenue Code of 1986 due to ownership change limitations that may have occurred previously or that could occur in the future. These ownership changes may limit the amount of net operating loss carry forwards that can be utilized annually to offset future taxable income. The Company has not completed a study to assess whether ownership changes have occurred. There also could be additional ownership changes in the future which may result in additional limitations of these net operating loss carry forwards. | |||||||||||||
In addition to the aforementioned net operating loss carry forwards, the Company has approximately $134.2 million in cumulative income tax deductions from the exercise of common stock options and the vesting of restricted stock units, which have expiration periods beginning in 2030. The income tax benefit for these carryforwards will be recorded in additional paid-in-capital when realized. Since the Company was able to reduce actual cash income taxes for U.S. federal and state purposes and in certain foreign jurisdictions, the realization of approximately $4.0 million, $4.8 million and $2.4 million of income tax savings was recognized as a benefit to additional paid-in-capital during the years ended December 31, 2013, 2012 and 2011, respectively. | |||||||||||||
The Company does not recognize tax benefits that are not more-likely-than-not to be supported based upon the technical merits of the tax positions taken. In assessing its unrecognized tax benefits, the Company has analyzed its tax return filing positions in all of the federal, state and foreign filing jurisdictions where it is required to file income tax returns, as well as all open years in those jurisdictions. | |||||||||||||
The following table indicates the changes to the Company’s unrecognized tax benefits: | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Beginning balance | $ | 2,435 | $ | 2,871 | $ | 3,096 | |||||||
Expiration of statute of limitations for the assessment of taxes | (211 | ) | (333 | ) | (115 | ) | |||||||
Increase related to current tax year | 126 | 124 | 175 | ||||||||||
Increase (decrease) related to prior tax years | — | (244 | ) | (259 | ) | ||||||||
Foreign currency translation adjustments | (9 | ) | 17 | (26 | ) | ||||||||
Ending balance | $ | 2,341 | $ | 2,435 | $ | 2,871 | |||||||
Of the Company’s unrecognized tax benefits, approximately $0.7 million would affect the Company’s effective tax rate in the period recognized. The Company does not expect its unrecognized tax benefit liability to change significantly over the next 12 months. The Company recognizes interest and penalties as a component of income tax expense in the consolidated statement of operations. In each of the years ended December 31, 2013, 2012 and 2011, the Company recorded less than $0.1 million in interest and penalties in income tax expense. As of December 31, 2013 and 2012, there was approximately $0.1 million of accrued interest and penalties. | |||||||||||||
Although the Company believes that the estimates and assumptions supporting its assessments are reasonable, the final determination of tax audits and any related litigation could be materially different than that which is reflected in the historical income tax provision and recorded assets and liabilities. Based on the results of an audit or litigation, there could be a material effect on the Company’s income tax benefit (provision), net income (loss) or cash flows in the period or periods for which that determination is made. | |||||||||||||
The Company and its subsidiaries file U.S. federal income tax returns, as well as income tax returns in multiple U.S. state and foreign jurisdictions. Because of net operating losses, which were used in the 2009 tax return, the Company’s U.S. federal tax returns for 2003 and later years remain subject to examination. The Company is subject to non-U.S. income tax examination for the tax years 2008 through 2013. | |||||||||||||
The Company expects the earnings of its foreign subsidiaries will continue to be reinvested indefinitely. Accordingly, at December 31, 2013, no provision has been made for U.S. federal and state income taxes on these foreign earnings of approximately $60.1 million. Upon distribution of these earnings, in the form of dividends or otherwise, the Company may be subject to U.S. income taxes and foreign withholding taxes. The determination of the amount of unrecognized deferred U.S. income tax and foreign withholding tax liabilities on these earnings is not practicable because of the complexities with the hypothetical calculations. |
Capital_Stock
Capital Stock | 12 Months Ended | |
Dec. 31, 2013 | ||
Equity [Abstract] | ' | |
Capital Stock | ' | |
-8 | Capital Stock | |
The Company’s authorized capital consists of 300,000,000 shares of Common Stock, par value $0.0001 per share, and 10,000,000 shares of preferred stock, par value $0.0001 per share. | ||
Common Stock | ||
Outstanding shares. At December 31, 2013, the Company had outstanding 88,989,091 shares of Common Stock. | ||
As of December 31, 2013, there were 9,796,816 shares of Common Stock subject to outstanding options, 372,452 shares of Common Stock issuable upon vesting of restricted stock units outstanding and 356,867 shares of Common Stock issuable for MVSSSARs based on the value equal to the difference between the exercise price and the then current market price, subject to a predetermined cap. | ||
Voting Rights. Each holder of Common Stock is entitled to one vote for each share of common stock held on all matters submitted to a vote of the stockholders, including the election of directors. The Company’s restated certificate of incorporation and amended and restated bylaws do not provide for cumulative voting rights. Because of this, the holders of a majority of the shares of common stock entitled to vote in any election of directors can elect all of the directors standing for election, if they should so choose. | ||
Dividends. Subject to preferences that may be applicable to any then outstanding preferred stock, the holders of the Company’s outstanding shares of common stock are entitled to receive dividends, if any, as may be declared from time to time by the Company’s board of directors out of legally available funds. At present, the Company has no plans to issue dividends. | ||
Liquidation Preference. In the event of the Company’s liquidation, dissolution or winding up, holders of common stock will be entitled to share ratably in the net assets legally available for distribution to stockholders after the payment of all of the Company’s debts and other liabilities, subject to the satisfaction of any liquidation preference granted to the holders of any outstanding shares of preferred stock. | ||
Other Rights and Preferences. Holders of the Company’s common stock have no preemptive, conversion or subscription rights, and there are no redemption or sinking fund provisions applicable to the Company’s common stock. The rights, preferences and privileges of the holders of common stock are subject to, and may be adversely affected by, the rights of the holders of shares of any series of the Company’s preferred stock that the Company may designate and issue in the future. | ||
Fully Paid and Non-assessable. All of the Company’s outstanding shares of common stock are fully paid and non-assessable. | ||
Preferred Stock | ||
At December 31, 2013 and 2012, the Company had no shares of preferred stock outstanding. | ||
The Company’s board of directors is authorized to issue preferred stock in one or more series, to establish the number of shares to be included in each such series and to fix the designation, powers, preferences and rights of such shares and any qualifications, limitations or restrictions thereof. The issuance of preferred stock may have the effect of delaying, deferring or preventing a change in control of the Company without further action by the stockholders and may adversely affect the voting and other rights of the holders of common stock. The issuance of preferred stock with voting and conversion rights may adversely affect the voting power of the holders of common stock, including the loss of voting control to others. At present, the Company has no plans to issue any preferred stock. |
Commitments_and_Contingencies
Commitments and Contingencies | 12 Months Ended | ||||
Dec. 31, 2013 | |||||
Commitments And Contingencies Disclosure [Abstract] | ' | ||||
Commitments and Contingencies | ' | ||||
-9 | Commitments and Contingencies | ||||
Litigation | |||||
The Company is party to legal proceedings in the ordinary course of business and may from time to time become subject to additional proceedings or additional claims or remedies sought in current proceedings. These actions typically seek, among other things, breach of contract or employment-related damages, intellectual property claims for damages, punitive damages, civil penalties or other losses or declaratory relief. Although there can be no assurance as to the outcome of any such proceedings, the Company does not believe any of the proceedings currently pending, if determined adversely to us, would individually or in the aggregate have a material adverse effect on the Company’s business, operating results or financial condition. | |||||
The Company’s intellectual property is an essential element of its business. The Company owns registered trademarks for the “Qlik,” “QlikTech” “QlikView,” “Data Dialogs,” “Natural Analytics,” “Qlik Customer Success Framework” and the Company’s logo. The Company relies on a combination of copyright, trademark, trade dress and trade secrecy laws, as well as confidentiality procedures and contractual restrictions, to establish and protect the Company’s proprietary rights both domestically and abroad. These laws, procedures and restrictions provide only limited protection. As of December 31, 2013, the Company had seven issued U.S. patents and had eight pending applications for U.S. patents. In addition, as of December 31, 2013, the Company had 21 issued and 13 pending applications for foreign patents. Any future patents issued to us may be challenged, invalidated or circumvented. Any patents that might be issued in the future, with respect to pending or future patent applications may not provide sufficiently broad protection or may not prove to be enforceable in actions against alleged infringers. The Company endeavors to enter into agreements with the Company’s employees and contractors and with parties with whom the Company does business in order to limit access to and disclosure of the Company’s proprietary information. | |||||
Leases | |||||
The Company conducts its operations in leased facilities under leases expiring at various dates through 2022. Rent expense was approximately $12.7 million, $11.1 million and $9.9 million for the years ended December 31, 2013, 2012 and 2011, respectively. | |||||
The future minimum lease payments under non-cancelable operating leases are as follows: | |||||
Year ending December 31: | |||||
2014 | $ | 15,510 | |||
2015 | 12,206 | ||||
2016 | 10,249 | ||||
2017 | 9,773 | ||||
2018 | 9,670 | ||||
Thereafter | 14,505 | ||||
Total future minimum lease payments | $ | 71,913 | |||
The Company’s significant lease agreements relate to the global corporate headquarters and principal executive offices located in Radnor, Pennsylvania, its primary research and development center in Lund, Sweden and its offices located in Winnersh, United Kingdom. The Company’s lease agreement for its global corporate headquarters and principal executive offices has a term of ten years and expires in the fourth quarter of 2021. The lease agreements related to the Company’s primary research and development center has a term of eight years and expires in the second quarter of 2019. The Company’s lease agreement for its offices in Winnersh, United Kingdom has a term of ten years and expires in the first quarter of 2022. |
Business_and_Geographic_Segmen
Business and Geographic Segment Information | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||
Business and Geographic Segment Information | ' | ||||||||||||
-10 | Business and Geographic Segment Information | ||||||||||||
The Company currently operates in one business segment, namely, the development, commercialization and implementation of software products and related services. The Company is managed and operated as one business. A single management team that reports to the chief operating decision maker comprehensively manages the entire business. The Company does not operate any material separate lines of business or separate business entities with respect to its products or product development. | |||||||||||||
The following geographic data includes revenues generated by subsidiaries located within that geographic region. The Company’s revenues were generated in the following geographic regions for the periods indicated: | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
The Americas | $ | 174,510 | $ | 135,008 | $ | 105,372 | |||||||
Europe | 249,109 | 216,564 | 187,900 | ||||||||||
Rest of world | 46,831 | 36,965 | 27,347 | ||||||||||
Consolidated total | $ | 470,450 | $ | 388,537 | $ | 320,619 | |||||||
During the year ended December 31, 2013, sales from customers in the U.S., the United Kingdom, Sweden and Germany were approximately $139.7 million, $42.3 million, $38.0 million and $36.2 million, respectively. During the year ended December 31, 2012, sales from customers in the U.S., the United Kingdom, Germany and Sweden were approximately $108.3 million, $39.1 million, $33.8 million and $32.1 million, respectively. During the year ended December 31, 2011, sales from customers in the U.S., Sweden, the United Kingdom and Germany were approximately $87.2 million, $34.1 million, $31.1 million and $30.3 million, respectively. | |||||||||||||
The following geographic data includes property and equipment, net based on physical location within that geographic region. | |||||||||||||
As of December 31, | |||||||||||||
2013 | 2012 | ||||||||||||
The Americas | $ | 11,117 | $ | 7,730 | |||||||||
Europe | 9,190 | 8,655 | |||||||||||
Rest of world | 1,193 | 663 | |||||||||||
Consolidated total | $ | 21,500 | $ | 17,048 | |||||||||
As of December 31, 2013, property and equipment, net held in the U.S. and Sweden were approximately $10.6 million and $5.2 million, respectively. As of December 31, 2012, property and equipment, net held in the U.S. and Sweden were approximately $7.0 million and $5.1 million, respectively. | |||||||||||||
ShareBased_Compensation
Share-Based Compensation | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' | ||||||||||||
Share-Based Compensation | ' | ||||||||||||
-11 | Share-Based Compensation | ||||||||||||
In 2004, the Company’s Board of Directors and stockholders approved the Company’s 2004 Omnibus Stock Option and Award Plan (“2004 Plan”) which provided for the granting of either incentive or nonqualified common stock options and other types of awards to purchase up to 11,124,400 shares of the Company’s common stock. In 2007, the Company’s Board of Directors and stockholders approved the Company’s 2007 Omnibus Stock Option and Award Plan (“2007 Plan”). The 2007 Plan provided for the granting of either incentive common stock options or nonqualified common stock options and other types of awards to purchase up to 18,124,400 shares of the Company’s common stock. The 2004 Plan and the 2007 Plan provided for stock-based awards to employees, directors and advisors. Common stock options were granted at a strike price not less than the estimated fair market value at the date of grant as determined by the Board of Directors. | |||||||||||||
The Company’s 2010 Equity Incentive Plan (“2010 Plan”) took effect on the effective date of the registration statement, July 16, 2010, for the Company’s IPO. The Company initially reserved 3,300,000 shares of its common stock for issuance under the 2010 Plan. The number of shares reserved for issuance under the 2010 Plan will be increased automatically on January 1st of each year by a number equal to the smallest of (i) 3,300,000 shares; (ii) 3.75% of the shares of common stock outstanding at that time; or (iii) a number of shares determined by the Company’s Board of Directors. As of December 31, 2013, there were 2,830,773 shares available for grant under the 2010 Plan. In February 2014, the number of shares of common stock authorized for issuance under the 2010 Plan was automatically increased by 3,300,000 shares. | |||||||||||||
The 2004 Plan, 2007 Plan and 2010 Plan were designed to help attract and retain the Company and its subsidiaries’ personnel, to reward employees and directors for past services and to motivate such individuals through added incentives to further contribute to the success of the Company. The maximum term for options granted is ten years. Options granted pursuant to the 2004 Plan, 2007 Plan and 2010 Plan generally vest at 25% after the first year and then vest 6.25% each quarter over the remaining three years. | |||||||||||||
Common Stock Options | |||||||||||||
The Company uses the Black-Scholes option-pricing model to value common stock option awards. The Black-Scholes option-pricing model requires the input of subjective assumptions, including the expected term of the stock-based compensation awards and stock price volatility. For common stock options granted in 2013, the Company used blended volatility to estimate expected volatility. Blended volatility includes a weighting of the Company’s historical volatility from the date of its IPO to the respective grant date and an average of the Company’s peer group historical volatility consistent with the expected term of the common stock option. The Company’s peer group volatility includes the historical volatility of certain companies that share similar characteristics in terms of revenue size and industry. The Company expects to continue to use a larger proportion of its own stock price volatility in future periods as it develops additional experience of its own common stock price fluctuations considered in relation to the expected term of the common stock option. For common stock options granted prior to the third quarter of 2013, the Company based its expected term on the simplified method. Beginning in the third quarter of 2013, the Company began using its historical activity related to common stock option exercises and post-vesting forfeitures in order to estimate the expected term of its common stock option awards, as the Company believes it now has a sufficient amount of experience to provide a reasonable basis for the calculation of the expected term. This change in estimate did not have a material impact on the results of operations for 2013. The risk-free interest rate used to value common stock option awards is based on the U.S. Treasury yield curve with a remaining term equal to the expected term assumed at the grant date. The assumptions used in calculating the fair value of stock-based compensation awards represent management’s best estimate and involve inherent uncertainties and the application of management judgment. As a result, if factors change and management uses different assumptions, stock-based compensation expense could be materially different in the future. | |||||||||||||
For all grants subsequent to the Company’s July 2010 IPO, the exercise price of the award is equal to the Company’s stock price on the date of grant. For all option grants prior to the Company’s IPO, the fair value of the Common Stock underlying the option grants was determined by the Company’s Board of Directors, with the assistance of management, which intended all options granted to be exercisable at a price per share not less than the per share fair value of the Company’s Common Stock underlying those options on the date of grant. | |||||||||||||
The Board of Directors, with the assistance of management, used the market approach and the income approach in order to estimate the fair value of Common Stock underlying the Company’s option grants prior to the Company’s IPO. The Company believes both of these approaches were appropriate methodologies given its stage of development. For the market approach, the Company utilized the guideline company method by analyzing a population of comparable companies and selected those technology companies that it considered to be the most comparable in terms of product offerings, revenues, margins, and growth. Under the market approach, the Company then used these guideline companies to develop relevant market multiples and ratios, which were then applied to its corresponding financial metrics to estimate the Company’s equity value. For the income approach, the Company performed discounted cash flow analyses which utilized projected cash flows as well as a residual value, which were then discounted to the present in order to arrive at its current equity value. Prior to the Company’s IPO, the Company utilized a probability weighted expected return model to allocate value to the various securities outstanding in the Company’s capital structure. | |||||||||||||
The following provides a summary of the common stock option activity for the Company as of the noted dates: | |||||||||||||
Number of | Weighted- | Weighted- | |||||||||||
Shares | Average | Average | |||||||||||
Exercise Price | Remaining | ||||||||||||
Contractual | |||||||||||||
Term (Years) | |||||||||||||
Outstanding as of January 1, 2011 | 12,053,445 | $ | 2.95 | 6.71 | |||||||||
Granted | 2,811,629 | 26.58 | — | ||||||||||
Exercised | (5,604,613 | ) | 1.71 | — | |||||||||
Forfeited | (400,810 | ) | 11.41 | — | |||||||||
Outstanding as of December 31, 2011 | 8,859,651 | $ | 10.84 | 7.38 | |||||||||
Granted | 4,188,950 | 21.4 | — | ||||||||||
Exercised | (1,833,377 | ) | 2.97 | — | |||||||||
Forfeited | (798,866 | ) | 18.27 | — | |||||||||
Outstanding as of December 31, 2012 | 10,416,358 | $ | 15.89 | 7.82 | |||||||||
Granted | 2,676,274 | 27.85 | — | ||||||||||
Exercised | (2,572,273 | ) | 8.99 | — | |||||||||
Forfeited | (723,543 | ) | 22.98 | — | |||||||||
Outstanding as of December 31, 2013 | 9,796,816 | $ | 20.44 | 7.79 | |||||||||
Exercisable at December 31, 2013 | 4,091,832 | $ | 14.68 | 6.39 | |||||||||
Vested and expected to vest at December 31, 2013 | 9,242,406 | $ | 20.19 | 7.73 | |||||||||
The grant date weighted-average fair value per common stock option for the years ended December 31, 2013, 2012 and 2011 was approximately $12.64, $9.83 and $12.49, respectively. The total fair value of the common stock options that vested during the years ended December 31, 2013, 2012 and 2011 was approximately $22.5 million, $14.3 million and $5.8 million, respectively. | |||||||||||||
Proceeds from the exercise of common stock options were approximately $23.1 million, $5.5 million, and $9.5 million for the years ended December 31, 2013, 2012, and 2011, respectively. The total intrinsic value of common stock options exercised during 2013, 2012 and 2011 was approximately $51.9 million, $43.0 million and $145.9 million, respectively. The aggregate intrinsic value of fully vested common stock options outstanding as of December 31, 2013 is approximately $50.7 million. In addition, the aggregate intrinsic value of common stock options expected to vest as of December 31, 2013 is approximately $67.8 million. As a result of option exercises in certain jurisdictions in which the exercise reduced taxable income, the Company recorded an excess tax benefit from stock-based compensation of approximately $4.0 million, $4.8 million, and $2.4 million for the years ended December 31, 2013, 2012, and 2011, respectively. | |||||||||||||
The assumptions used in the Black-Scholes option pricing model are: | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Expected dividend yield | 0.00% | 0.00% | 0.00% | ||||||||||
Risk-free interest rate | 0.9% - 1.7% | 0.8% - 1.2% | 1.1% - 2.7% | ||||||||||
Expected volatility | 46.6% - 47.7% | 46.7% - 47.5% | 45.3% - 47.0% | ||||||||||
Expected term (all other grants, in years) | 5.19 - 6.25 | 6.25 | 6.25 | ||||||||||
For the years ended December 31, 2013, 2012 and 2011, the Company recorded stock-based compensation expenses of approximately $23.9 million, $16.1 million and $9.0 million, respectively, related to common stock option grants. Included in stock-based compensation expense for the year ended December 31, 2013 and 2012 is a charge of approximately $0.9 million and $1.3 million, respectively, related to the modifications of certain common stock option awards of former employees. | |||||||||||||
As of December 31, 2013, there was $52.1 million of total unrecognized compensation cost, net of estimated forfeitures, related to non-vested employee and non-employee director common stock options. The remaining cost is expected to be recognized over a weighted-average period of approximately 2.7 years. | |||||||||||||
Restricted Stock Units | |||||||||||||
The Company grants restricted stock unit awards to its employees and non-employee directors under the provisions of the 2010 Plan. The fair value of a restricted stock unit is determined by using the closing price of the Company’s common stock on the date of grant. A restricted stock unit award entitles the holder to receive shares of the Company’s common stock as the award vests, which is generally based on length of service. Stock-based compensation expense is amortized on a straight-line basis over the vesting period. | |||||||||||||
The following provides a summary of the restricted stock unit activity for the Company as of the noted dates: | |||||||||||||
Number of | Weighted- | ||||||||||||
Shares | Average | ||||||||||||
Grant Date | |||||||||||||
Fair Value | |||||||||||||
Unvested as of January 1, 2011 | 40,820 | $ | 11.02 | ||||||||||
Granted | 86,692 | 30.02 | |||||||||||
Vested | (40,820 | ) | 11.02 | ||||||||||
Forfeited | — | — | |||||||||||
Unvested as of December 31, 2011 | 86,692 | $ | 30.02 | ||||||||||
Granted | 225,795 | 22.36 | |||||||||||
Vested | (55,092 | ) | 29.63 | ||||||||||
Forfeited | (7,597 | ) | 27.97 | ||||||||||
Unvested as of December 31, 2012 | 249,798 | $ | 23.25 | ||||||||||
Granted | 233,215 | 29.8 | |||||||||||
Vested | (93,842 | ) | 24.14 | ||||||||||
Forfeited | (16,719 | ) | 23.4 | ||||||||||
Unvested as of December 31, 2013 | 372,452 | $ | 27.12 | ||||||||||
For the years ended December 31, 2013, 2012 and 2011, the Company recorded stock-based compensation expenses of approximately $3.1 million, $2.1 million and $0.8 million, respectively, related to restricted stock units. | |||||||||||||
As of December 31, 2013, there was approximately $7.2 million of total unrecognized compensation cost, net of estimated forfeitures, related to unvested restricted stock unit awards. The remaining cost is expected to be recognized over a weighted-average period of approximately 2.6 years. | |||||||||||||
Maximum Value Stock-settled Stock Appreciation Rights | |||||||||||||
The Company grants Maximum Value Stock-settled Stock Appreciation Rights (“MVSSSARs”) to its Swedish employees under the provisions of the 2010 Plan. MVSSSARs contain a predetermined cap on the maximum stock price at which point the instrument must be exercised. At exercise, employees holding MVSSSARs will receive shares of the Company’s common stock with a value equal to the difference between the exercise price and the current market price per share of the Company’s common stock, subject to a predetermined cap. The exercise price of MVSSSARs is determined by using the closing price of the Company’s common stock on the date of grant. Vesting is based on length of service. Stock-based compensation expense is amortized on a straight-line basis over the vesting period. The fair value of MVSSSARs is determined by utilizing a lattice model under the option pricing method. The key inputs to the lattice model are the current price of the Company’s common stock, the fair value of the Company’s common stock at date of grant, the maximum fair value at which the MVSSSARs must be exercised, the vesting period, the contractual term, the volatility, the risk-free interest rate, the employment termination rate and assumptions with respect to early exercise behavior. | |||||||||||||
The following provides a summary of the MVSSSAR activity for the Company as of the noted dates: | |||||||||||||
Number of | Weighted- | ||||||||||||
Shares | Average | ||||||||||||
Grant Date | |||||||||||||
Fair Value | |||||||||||||
Outstanding as of January 1, 2011 | — | $ | — | ||||||||||
Granted | 393,978 | 30.33 | |||||||||||
Exercised | — | — | |||||||||||
Forfeited | (6,192 | ) | 35.43 | ||||||||||
Outstanding as of December 31, 2011 | 387,786 | $ | 30.25 | ||||||||||
Granted | 454,225 | 21.04 | |||||||||||
Exercised | — | — | |||||||||||
Forfeited | (58,461 | ) | 28.97 | ||||||||||
Outstanding as of December 31, 2012 | 783,550 | $ | 25.01 | ||||||||||
Granted | 375,060 | 27.09 | |||||||||||
Exercised | (141,627 | ) | 24.75 | ||||||||||
Forfeited | (42,314 | ) | 25.72 | ||||||||||
Outstanding as of December 31, 2013 | 974,669 | $ | 25.81 | ||||||||||
For the years ended December 31, 2013, 2012 and 2011, the Company recorded stock-based compensation expenses of approximately $1.9 million, $1.1 million and $0.4 million, respectively, related to MVSSSARs. | |||||||||||||
As of December 31, 2013, there was approximately $4.2 million of total unrecognized compensation cost related to unvested MVSSSARs. The remaining cost is expected to be recognized over a weighted-average period of approximately 2.6 years. | |||||||||||||
For the year ended December 31, 2013, the Company settled 141,627 MVSSSARs by issuing 36,684 shares of the Company’s common stock. For the year ended December 31, 2012 and 2011, the Company did not settle any MVSSSARs. If settlement of all outstanding MVSSSARs had occurred on December 31, 2013 at the predetermined cap on the maximum stock price at which point the instrument must be exercised, the Company would have issued 356,867 shares of the Company’s common stock. | |||||||||||||
Shares_Reserved_for_Future_Iss
Shares Reserved for Future Issuance | 12 Months Ended | ||||
Dec. 31, 2013 | |||||
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' | ||||
Shares Reserved for Future Issuance | ' | ||||
-12 | Shares Reserved for Future Issuance | ||||
At December 31, 2013, the Company had reserved a total of its authorized shares of common stock for issuance under its equity incentive plan and other classes of stock for future issuance as follows: | |||||
Granted and outstanding stock options, restricted stock units and MVSSSARs | 10,526,135 | ||||
Future issuance of stock options | 2,830,773 | ||||
Future issuance of preferred stock | 10,000,000 | ||||
In February 2014, the number of shares of common stock authorized for issuance under the 2010 Plan was automatically increased by 3,300,000 shares. |
Benefits_Plans
Benefits Plans | 12 Months Ended | |
Dec. 31, 2013 | ||
Compensation And Retirement Disclosure [Abstract] | ' | |
Benefits Plans | ' | |
-13 | Benefits Plans | |
The Company sponsors a 401(k) savings plan covering substantially all U.S. employees who meet certain age and employment criteria. Employees may contribute up to the Internal Revenue Service maximum employee contribution each year. The Company has contributed up to a 3% non-elective contribution based on eligible employee earnings. The Company’s non-elective contributions are subject to a graded vesting schedule. The first 50% vests on the second anniversary of the employees hire date and the second 50% vest on the third anniversary of the employees hire date. In the foreign entities, the Company has defined contribution plans for the employees’ retirements who meet certain age, employment, and salary criteria. The Company’s benefit plans expense was approximately $6.9 million, $5.1 million and $3.6 million for the years ended December 31, 2013, 2012 and 2011, respectively. |
Comparison_of_Summarized_Unaud
Comparison of Summarized Unaudited Quarterly Results | 12 Months Ended | ||||||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | ' | ||||||||||||||||||||||||||||||||
Comparison of Summarized Unaudited Quarterly Results | ' | ||||||||||||||||||||||||||||||||
-14 | Comparison of Summarized Unaudited Quarterly Results | ||||||||||||||||||||||||||||||||
The following table sets forth certain unaudited quarterly financial information for fiscal 2013 and 2012. This data should be read together with the Company’s consolidated financial statements and the related notes included elsewhere in this Annual Report on Form 10-K. The Company has prepared the unaudited information on a basis consistent with its audited financial statements and have included all adjustments of a normal and recurring nature, which, in the opinion of management, are considered necessary to fairly present the Company’s revenue and operating expenses for the quarters presented. The Company’s historical operating results for any quarter are not necessarily indicative of results for any future period. | |||||||||||||||||||||||||||||||||
For the Three Months Ended | |||||||||||||||||||||||||||||||||
March 31, | June 30, | September 30, | December 31, | March 31, | June 30, | September 30, | December 31, | ||||||||||||||||||||||||||
2012 | 2012 | 2012 | 2012 | 2013 | 2013 | 2013 | 2013 | ||||||||||||||||||||||||||
Consolidated statement of operations data: | |||||||||||||||||||||||||||||||||
Revenue | $ | 79,155 | $ | 85,801 | $ | 86,096 | $ | 137,485 | $ | 96,548 | $ | 108,007 | $ | 104,100 | $ | 161,795 | |||||||||||||||||
Cost of revenue | 9,461 | 9,817 | 10,247 | 13,764 | 14,356 | 14,594 | 14,942 | 17,931 | |||||||||||||||||||||||||
Gross profit | 69,694 | 75,984 | 75,849 | 123,721 | 82,192 | 93,413 | 89,158 | 143,864 | |||||||||||||||||||||||||
Total operating expenses | 77,472 | 78,338 | 77,619 | 97,189 | 98,953 | 102,505 | 92,557 | 111,190 | |||||||||||||||||||||||||
Income (loss) from operations | (7,778 | ) | (2,354 | ) | (1,770 | ) | 26,532 | (16,761 | ) | (9,092 | ) | (3,399 | ) | 32,674 | |||||||||||||||||||
Other income (expense), net | (1,394 | ) | 115 | (1,676 | ) | 64 | (1,451 | ) | (469 | ) | 64 | (666 | ) | ||||||||||||||||||||
Income (loss) before income taxes | $ | (9,172 | ) | $ | (2,239 | ) | $ | (3,446 | ) | $ | 26,596 | $ | (18,212 | ) | $ | (9,561 | ) | $ | (3,335 | ) | $ | 32,008 | |||||||||||
Benefit (provision) for income taxes | 1,636 | 198 | 3,597 | (13,331 | ) | 5,006 | 1,512 | 6,330 | (23,727 | ) | |||||||||||||||||||||||
Net income (loss) | $ | (7,536 | ) | $ | (2,041 | ) | $ | 151 | $ | 13,265 | $ | (13,206 | ) | $ | (8,049 | ) | $ | 2,995 | $ | 8,281 | |||||||||||||
Net income (loss) per common share: | |||||||||||||||||||||||||||||||||
Basic | $ | (0.09 | ) | $ | (0.02 | ) | $ | 0 | $ | 0.15 | $ | (0.15 | ) | $ | (0.09 | ) | $ | 0.03 | $ | 0.09 | |||||||||||||
Diluted | $ | (0.09 | ) | $ | (0.02 | ) | $ | 0 | $ | 0.15 | $ | (0.15 | ) | $ | (0.09 | ) | $ | 0.03 | $ | 0.09 |
Significant_Accounting_Policie1
Significant Accounting Policies (Policies) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Accounting Policies [Abstract] | ' | ||||||||||||
Basis of Presentation and Consolidation | ' | ||||||||||||
Basis of Presentation and Consolidation | |||||||||||||
The consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All material intercompany balances and transactions have been eliminated. Prior year amounts have been reclassified where appropriate to conform to the current year classification for comparative purposes. | |||||||||||||
Use of Estimates | ' | ||||||||||||
Use of Estimates | |||||||||||||
The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States (“U.S. GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. | |||||||||||||
The Company evaluates its estimates, including those related to the accounts receivable allowance, useful lives of long-lived assets, the recoverability of goodwill and other intangible assets, assessing fair values of assets and liabilities acquired in and contingent consideration related to business acquisitions, and assumptions used for the purpose of determining stock-based compensation expense and income taxes, among others. The Company bases its estimates on historical experience and on various other assumptions that are believed to be reasonable, the results of which form the basis for making judgments about the carrying value of assets and liabilities as well as reported revenue and expenses during the periods presented. | |||||||||||||
Foreign Currency Translation | ' | ||||||||||||
Foreign Currency Translation | |||||||||||||
The financial statements of the Company’s foreign operations are measured using the local currency as the functional currency. The local currency assets and liabilities are translated at the rate of exchange to the United States (“U.S.”) dollar on the balance sheet date and the local currency revenues and expenses are translated at average rates of exchange to the U.S. dollar during the reporting periods. Foreign currency transaction gains (losses) have been reflected as a component of other expense, net within the Company’s consolidated statements of operations and foreign currency translation gains (losses) have been included as a component of the Company’s consolidated statements of comprehensive income (loss) and accumulated other comprehensive income (loss) within the Company’s consolidated balance sheets. | |||||||||||||
Cash and Cash Equivalents | ' | ||||||||||||
Cash and Cash Equivalents | |||||||||||||
The Company considers all highly liquid investments having an original maturity of three months or less when purchased to be cash equivalents. The Company maintains deposits with financial institutions, the balances of which from time to time exceed the federally insured amount. These balances could be impacted if the underlying financial depository institutions or the guarantors fail or could be subject to adverse conditions in the financial markets. | |||||||||||||
Accounts Receivable | ' | ||||||||||||
Accounts Receivable | |||||||||||||
The Company makes estimates regarding the collectability of its accounts receivable. When the Company evaluates the adequacy of its allowance for doubtful accounts, it considers multiple factors, including historical write-off experience, the need for specific customer reserves, the aging of receivables, customer creditworthiness and changes in customer payment cycles. If any of the factors used to calculate the allowance for doubtful accounts change or if the allowance does not reflect the Company’s future ability to collect outstanding receivables, additional provisions for doubtful accounts may be needed, and future results of operations could be materially affected. Once the outstanding receivable is determined to be uncollectible and all efforts at collection have been exhausted, the outstanding receivable is written-off. | |||||||||||||
The following table summarizes the changes in the Company’s allowance for doubtful accounts for the period indicated: | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Balance at the beginning of the period | $ | 704 | $ | 891 | $ | 807 | |||||||
Amounts to expense | 1,829 | 2,120 | 468 | ||||||||||
Accounts written off | (1,091 | ) | (2,307 | ) | (384 | ) | |||||||
Balance at the end of the period | $ | 1,442 | $ | 704 | $ | 891 | |||||||
Concentration of Market Risk | ' | ||||||||||||
Concentration of Market Risk | |||||||||||||
The Company is exposed to certain financial risks, including fluctuations in foreign currency exchange rates and interest rates. The Company manages its exposure to these market risks through internally established policies and procedures. The Company’s policies do not allow speculation in derivative instruments for profit or execution of derivative instrument contracts for which there are no underlying exposures. The Company does not use financial instruments for trading purposes and the Company is not a party to any leveraged derivatives. The Company monitors its underlying market risk exposures on an ongoing basis and believes that it can modify or adapt its hedging strategies as needed. | |||||||||||||
The Company does not believe its business is substantially dependent on any particular customer as no customer represented more than 2% of its revenue in 2013, 2012 or 2011. The Company’s target markets are not confined to certain industries and geographies as it is focused on providing a solution that generally meets the needs of all business users. As of December 31, 2013, the Company’s global partner network was comprised of more than 1,700 partners in over 100 countries. No individual partner represented more than 2% of the Company’s revenues in the fiscal year ended December 31, 2013 and no individual partner represented more than 3% of the Company’s revenues in the fiscal years ended December 31, 2012 and 2011. | |||||||||||||
Concentration of Credit Risk | ' | ||||||||||||
Concentration of Credit Risk | |||||||||||||
The Company’s principal financial instruments subject to potential concentration of credit risk are cash and cash equivalents and accounts receivable, which are unsecured. The Company’s cash and cash equivalents are maintained at various financial institutions across different geographies. Deposits held with banks may at times exceed the amount of insurance provided on such deposits. Generally, these deposits may be redeemed upon demand and, therefore, management believes they bear minimal risk. Concentration of credit risk with respect to trade accounts receivables is generally limited by a large customer base and its geographic dispersion. The Company believes it has a wide customer base consisting of Fortune 500 corporations, universities, large international companies and other smaller businesses. As of and for the years ended December 31, 2013, 2012 and 2011, there were no significant concentrations with respect to the Company’s consolidated revenue or accounts receivable. | |||||||||||||
Property and Equipment | ' | ||||||||||||
Property and Equipment | |||||||||||||
Property and equipment are recorded at cost. Depreciation is computed using the straight-line method over estimated useful lives of the assets. The estimated useful lives are as follows: three years for computers and equipment and five years for furniture and fixtures. Leasehold improvements are amortized over the shorter of the asset’s useful life or the remaining term of the lease. | |||||||||||||
Expenditures for major additions and improvements are capitalized, while minor replacements, maintenance and repairs are charged to expense as incurred. When property is retired or otherwise disposed of, the costs and accumulated depreciation are removed from the accounts. Any resulting gain or loss is recognized concurrently. | |||||||||||||
Long-lived Assets | ' | ||||||||||||
Long-lived Assets | |||||||||||||
The Company considers whether indicators of impairment of long-lived assets held for use, including identified intangible assets, are present. If such indicators are present, the Company determines whether the sum of the estimated undiscounted future cash flows attributable to such assets is less than their carrying amount, and if so, the Company recognizes an impairment loss based on the excess of the carrying amount of the assets over their fair value. No circumstances or events indicated impairment to long-lived assets during the years ended December 31, 2013, 2012 or 2011. | |||||||||||||
Business Combinations | ' | ||||||||||||
Business Combinations | |||||||||||||
The Company recognizes assets acquired, liabilities assumed and any contingent consideration related to business combinations at fair value on the date of acquisition. The purchase price allocation process requires management to make significant estimates and assumptions with respect to the fair value of any intangible assets acquired, deferred revenues assumed, or contingent consideration within the arrangement. Unanticipated events and circumstances may occur which may affect the accuracy or validity of such assumptions or estimates. All subsequent changes to a valuation allowance or uncertain tax position related to the acquired company that occur within the measurement period and are based on facts and circumstances that existed at the acquisition date are recognized as an adjustment to goodwill. | |||||||||||||
Acquisition-related transaction costs, including legal and accounting fees and other external costs directly related to the acquisition, are recognized separately from the acquisition and expensed as incurred in general and administrative expenses in the consolidated statements of operations. | |||||||||||||
Goodwill and Other Intangible Assets | ' | ||||||||||||
Goodwill and Other Intangible Assets | |||||||||||||
Goodwill represents the excess of the purchase price of an acquired business over the fair value of the underlying net tangible and intangible assets acquired. The Company tests goodwill for impairment annually on October 1, or whenever events or changes in circumstances indicate an impairment. If it is determined that an impairment has occurred, the Company will record a write-down of the carrying value and charge the impairment as an operating expense in the period the determination is made. Although the Company believes goodwill is appropriately stated in the consolidated financial statements, changes in strategy or market conditions could significantly impact these judgments and require an adjustment to the recorded balance. There was no impairment during the years ended December 31, 2013, 2012 and 2011. | |||||||||||||
Intangible assets that are not considered to have an indefinite life are amortized over their useful lives on a straight-line basis. On a periodic basis, the Company evaluates the estimated remaining useful life of acquired intangible assets and whether events or changes in circumstances warrant a revision to the remaining period of amortization. The carrying amounts of these assets are periodically reviewed for impairment whenever events or changes in circumstances indicate that the carrying value of these assets may not be recoverable. The cost of intangible assets are amortized on a straight-line basis over their estimated useful lives ranging from three to nine years. | |||||||||||||
Revenue Recognition | ' | ||||||||||||
Revenue Recognition | |||||||||||||
The Company derives its revenues from three sources: (i) license revenues; (ii) maintenance revenues; and (iii) professional services revenues. The majority of license revenue is from the sale of perpetual licenses to customers or resellers. Maintenance, which generally has a contractual term of 12 months, includes telephone and web-based support and rights to software updates and upgrades on a when-and-if-available basis. Professional services include training, implementation, consulting and expert services. | |||||||||||||
For each arrangement, the Company recognizes revenue when (a) persuasive evidence of an arrangement exists (e.g. a signed contract or purchase order); (b) delivery of the product has occurred and there are no remaining obligations or substantive customer acceptance provisions; (c) the fee is fixed or determinable; and (d) collection of the fee is deemed reasonably assured. Delivery is considered to have occurred upon electronic transfer of the license key that provides immediate availability of the product to the purchaser. | |||||||||||||
As substantially all of the Company’s software licenses are sold in multiple-element arrangements that include either maintenance or both maintenance and professional services, the Company uses the residual method to determine the amount of license revenue to be recognized. Under the residual method, consideration is allocated to undelivered elements based upon vendor-specific objective evidence (“VSOE”) of the fair value of those elements, with the residual of the arrangement fee allocated to and recognized as license revenue. The Company has established VSOE of the fair value of maintenance through independent maintenance renewals, which demonstrate a consistent relationship of maintenance pricing as a percentage of the contractual license fee. Maintenance revenue is deferred and recognized ratably over the contractual period of the maintenance arrangement, which is generally 12 months. Arrangements that include other professional services are evaluated to determine whether those services are essential to the functionality of other elements of the arrangement. The Company has determined that these services are not considered essential and the amounts allocated to the services are recognized as revenue when the services are performed. The VSOE of fair value of the Company’s professional services is based on the price for these same services when they are sold separately. Revenue for services that are sold either on a stand-alone basis or included in multiple-element arrangements is recognized as the services are performed. | |||||||||||||
For sales through resellers, the Company recognizes revenue upon the delivery of the product only if those resellers provide the Company, at the time of placing their order, with the identity of the end-user customer to whom the product has been sold. The Company’s resellers do not carry inventory of its software. Sales through resellers are evidenced by a reseller agreement, together with purchase orders on a transaction-by-transaction basis. | |||||||||||||
The Company also sells software licenses to original equipment manufacturers (“OEMs”) who integrate the Company’s product for distribution with their applications. The Company does not offer any rights to return products sold to resellers. The OEM’s end-user customer is licensed to use the Company’s products solely in conjunction with the OEM’s application. In OEM arrangements, key delivery is required as the basis for revenue recognition. The Company recognizes revenue under its OEM arrangements when (a) persuasive evidence of an arrangement exists (e.g. a signed contract or purchase order); (b) delivery of the product has occurred and there are no remaining obligations or substantive customer acceptance provisions; (c) the fee is fixed or determinable; and (d) collection of the fee is deemed reasonably assured. | |||||||||||||
The Company records taxes collected on revenue-producing activities on a net basis. | |||||||||||||
Deferred Revenue | ' | ||||||||||||
Deferred Revenue | |||||||||||||
Deferred revenue consists of billings or payments received in advance of revenue recognition primarily from the Company’s maintenance agreements described above and is recognized as the revenue recognition criteria are met. The Company generally invoices its customers in annual installments. Accordingly, the deferred revenue balance does not represent the total contract value of annual maintenance agreements. | |||||||||||||
Cost of Revenue | ' | ||||||||||||
Cost of Revenue | |||||||||||||
Cost of license revenue is primarily comprised of referral fees paid to third parties in connection with software license sales and the amortization of technology related intangible assets acquired. | |||||||||||||
Cost of maintenance revenue is primarily comprised of the costs associated with the customer support personnel that provide maintenance and support services to the Company’s customers. | |||||||||||||
Cost of professional services revenue is primarily comprised of the costs associated with professional services personnel and consultants that provide consulting and training services to the Company’s customers. | |||||||||||||
Product Warranties | ' | ||||||||||||
Product Warranties | |||||||||||||
Substantially all of the Company’s software products are covered by a standard 120 day warranty. In the event of a failure of software covered by this warranty, the Company must repair or replace the software or, if those remedies are insufficient, provide a refund. To date, the Company has not been required to record any reserve or revise any of the Company’s assumptions or estimates used in determining its warranty allowance. If the historical data the Company uses to calculate the adequacy of the warranty allowance is not indicative of future requirements, a warranty reserve may be required. | |||||||||||||
Guarantees | ' | ||||||||||||
Guarantees | |||||||||||||
The standard commercial terms in the Company’s sales contracts include an indemnification clause that indemnifies the customer against certain liabilities and damages arising from any claims of patent, copyright, or other proprietary rights of any third party. Due to the nature of the intellectual property indemnification provided to the Company’s customers, it cannot estimate the fair value, or determine the total nominal amount, of the indemnification until such time as a claim for such indemnification is made. In the event of a claim made against the Company under such provision, the Company will evaluate estimated losses for such indemnification considering such factors as the degree of probability of an unfavorable outcome and the ability to make a reasonable estimate of the amount of loss. To date, the Company has not had any claims made against it under such provision and, accordingly, has not accrued any liabilities related to such indemnifications in its consolidated financial statements. | |||||||||||||
Commissions | ' | ||||||||||||
Commissions | |||||||||||||
The Company records commission expense related to license sales in the period in which the sale is made. For arrangements that consist solely of professional services, commission expense is recorded in the period in which the professional services have been rendered. | |||||||||||||
Research and Development | ' | ||||||||||||
Research and Development | |||||||||||||
Software development costs are generally expensed as incurred until technological feasibility has been established, at which time such costs are capitalized to the extent that the capitalizable costs do not exceed the realizable value of such costs, until the product is available for general release to customers. Based on the Company’s product development process, technological feasibility is established upon the completion of a working model of the software product that has been tested to be consistent with the product design specifications and that is free of any uncertainties related to high-risk development issues. Costs incurred by the Company between completion of the working model and the point at which the product is ready for general release have been insignificant. Accordingly, the Company generally charges all such costs to research and development expense in the accompanying consolidated statements of operations. | |||||||||||||
Advertising | ' | ||||||||||||
Advertising | |||||||||||||
Advertising costs are charged to operations as incurred and include direct marketing, events, public relations, sales collateral materials and partner programs. Advertising expense was approximately $22.5 million, $21.0 million and $20.8 million for the years ended December 31, 2013, 2012 and 2011, respectively. | |||||||||||||
Income Taxes | ' | ||||||||||||
Income Taxes | |||||||||||||
Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carry forwards. These deferred tax assets and liabilities are measured using enacted tax rates expected to be applied to taxable income in the years in which those temporary differences are expected to be reversed or utilized. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income in the period that includes the enactment date. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more-likely-than-not that some portion or all of the deferred tax assets will not be realized. | |||||||||||||
The Company uses a more-likely-than-not recognition threshold based on the technical merits of tax positions taken. Tax positions that meet the more-likely-than-not recognition threshold are measured as the largest amount of the tax benefits, determined on a cumulative probability basis, which is more-likely-than-not to be realized upon ultimate settlement in the financial statements. The Company recognizes interest and penalties related to income tax matters in provision for income taxes. | |||||||||||||
Stock-Based Compensation | ' | ||||||||||||
Stock-Based Compensation | |||||||||||||
The Company recognizes the cost of stock-based compensation based on the fair value of those awards at the date of grant over the requisite service period on a straight line basis. The Company uses the Black-Scholes-Merton (“Black-Scholes”) option pricing model to determine the fair value of common stock option awards. The fair value of a restricted stock unit is determined by using the fair value of the Company’s common stock on the date of grant. The fair value of Maximum Value Stock-settled Stock Appreciation Rights (“MVSSSARs”) is determined by utilizing a lattice model under the option pricing method. Stock-based compensation plans, related expenses and assumptions used in the Black-Scholes option pricing model and the lattice model under the option pricing method are more fully described in Note 11 to these consolidated financial statements. Stock-based compensation expense is recorded within cost of revenue, sales and marketing, research and development and general and administrative expenses in the consolidated statements of operations. | |||||||||||||
The following table sets forth the total stock-based compensation expense included in the consolidated statements of operations for the years ended December 31, 2013, 2012 and 2011: | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Cost of revenue | $ | 2,854 | $ | 1,651 | $ | 701 | |||||||
Sales and marketing | 13,374 | 10,337 | 5,672 | ||||||||||
Research and development | 3,386 | 2,058 | 710 | ||||||||||
General and administrative | 9,304 | 5,269 | 3,123 | ||||||||||
$ | 28,918 | $ | 19,315 | $ | 10,206 | ||||||||
Net Income (Loss) Per Common Share | ' | ||||||||||||
Net Income (Loss) Per Common Share | |||||||||||||
The following table sets forth the computation of basic and diluted net income (loss) per share for the periods indicated: | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Basic net income (loss) per common share calculation: | |||||||||||||
Net income (loss) attributable to common shares | $ | (9,979 | ) | $ | 3,839 | $ | 9,044 | ||||||
Weighted average common shares outstanding | 87,702,222 | 85,423,074 | 82,043,958 | ||||||||||
Basic net income (loss) per common share | $ | (0.11 | ) | $ | 0.04 | $ | 0.11 | ||||||
Diluted net income (loss) per common share calculation: | |||||||||||||
Net income (loss) attributable to common shares | $ | (9,979 | ) | $ | 3,839 | $ | 9,044 | ||||||
Weighted average shares used to compute basic net income (loss) per share | 87,702,222 | 85,423,074 | 82,043,958 | ||||||||||
Effect of potentially dilutive securities: | |||||||||||||
Common stock options and restricted stock units | — | 2,217,770 | 3,530,456 | ||||||||||
Weighted average shares used to compute diluted net income (loss) per share | 87,702,222 | 87,640,844 | 85,574,414 | ||||||||||
Diluted net income (loss) per common share | $ | (0.11 | ) | $ | 0.04 | $ | 0.11 | ||||||
Diluted net income (loss) per common share for the periods presented does not reflect the potential issuance of common shares underlying the following securities as the effect would be anti-dilutive: | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Common stock options | 9,796,816 | 2,515,661 | 3,017,776 | ||||||||||
Restricted stock units | 372,452 | 126,020 | 70,200 | ||||||||||
MVSSSARs | 356,867 | 16,478 | 387,785 | ||||||||||
10,526,135 | 2,658,159 | 3,475,761 | |||||||||||
Recent Accounting Pronouncements | ' | ||||||||||||
Recent Accounting Pronouncements | |||||||||||||
From time to time, new accounting pronouncements are issued by the Financial Accounting Standards Board (“FASB”) or other standard setting bodies that are adopted by the Company as of the specified effective date. Unless otherwise discussed, the Company believes that the impact of recently issued standards that are not yet effective will not have a material impact on its financial position or consolidated results of operations upon adoption. | |||||||||||||
In July 2013, the FASB amended its guidance on the financial statement presentation of an unrecognized tax benefit when a net operating loss carryforward, similar tax loss, or a tax credit carryforward exists. This guidance is effective for fiscal periods beginning after December 15, 2013. The adoption of this amendment is not expected to have a material impact on the Company’s consolidated financial statements. |
Significant_Accounting_Policie2
Significant Accounting Policies (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Accounting Policies [Abstract] | ' | ||||||||||||
Summary of Changes in Allowances for Doubtful Accounts | ' | ||||||||||||
The following table summarizes the changes in the Company’s allowance for doubtful accounts for the period indicated: | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Balance at the beginning of the period | $ | 704 | $ | 891 | $ | 807 | |||||||
Amounts to expense | 1,829 | 2,120 | 468 | ||||||||||
Accounts written off | (1,091 | ) | (2,307 | ) | (384 | ) | |||||||
Balance at the end of the period | $ | 1,442 | $ | 704 | $ | 891 | |||||||
Stock-Based Compensation Expense Included in Consolidated Statements of Operations | ' | ||||||||||||
The following table sets forth the total stock-based compensation expense included in the consolidated statements of operations for the years ended December 31, 2013, 2012 and 2011: | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Cost of revenue | $ | 2,854 | $ | 1,651 | $ | 701 | |||||||
Sales and marketing | 13,374 | 10,337 | 5,672 | ||||||||||
Research and development | 3,386 | 2,058 | 710 | ||||||||||
General and administrative | 9,304 | 5,269 | 3,123 | ||||||||||
$ | 28,918 | $ | 19,315 | $ | 10,206 | ||||||||
Computation of Basic and Diluted Net Income Per Common Share | ' | ||||||||||||
The following table sets forth the computation of basic and diluted net income (loss) per share for the periods indicated: | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Basic net income (loss) per common share calculation: | |||||||||||||
Net income (loss) attributable to common shares | $ | (9,979 | ) | $ | 3,839 | $ | 9,044 | ||||||
Weighted average common shares outstanding | 87,702,222 | 85,423,074 | 82,043,958 | ||||||||||
Basic net income (loss) per common share | $ | (0.11 | ) | $ | 0.04 | $ | 0.11 | ||||||
Diluted net income (loss) per common share calculation: | |||||||||||||
Net income (loss) attributable to common shares | $ | (9,979 | ) | $ | 3,839 | $ | 9,044 | ||||||
Weighted average shares used to compute basic net income (loss) per share | 87,702,222 | 85,423,074 | 82,043,958 | ||||||||||
Effect of potentially dilutive securities: | |||||||||||||
Common stock options and restricted stock units | — | 2,217,770 | 3,530,456 | ||||||||||
Weighted average shares used to compute diluted net income (loss) per share | 87,702,222 | 87,640,844 | 85,574,414 | ||||||||||
Diluted net income (loss) per common share | $ | (0.11 | ) | $ | 0.04 | $ | 0.11 | ||||||
Diluted Net Income (loss) Per Common Share for Periods Presented Does Not Reflect Potential Issuance of Common Shares | ' | ||||||||||||
Diluted net income (loss) per common share for the periods presented does not reflect the potential issuance of common shares underlying the following securities as the effect would be anti-dilutive: | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Common stock options | 9,796,816 | 2,515,661 | 3,017,776 | ||||||||||
Restricted stock units | 372,452 | 126,020 | 70,200 | ||||||||||
MVSSSARs | 356,867 | 16,478 | 387,785 | ||||||||||
10,526,135 | 2,658,159 | 3,475,761 | |||||||||||
Acquisitions_Tables
Acquisitions (Tables) | 12 Months Ended | ||||
Dec. 31, 2013 | |||||
Qlik Tech Italy [Member] | ' | ||||
Summary of Estimated Fair Values of the Assets Acquired and Liabilities | ' | ||||
The following table summarizes the preliminary estimated fair values of the assets acquired and liabilities assumed at October 3, 2013 based on an exchange rate of 1.355 (in thousands): | |||||
Cash | $ | — | |||
Other assets | 63 | ||||
Property and equipment | 421 | ||||
Liabilities assumed | (1,397 | ) | |||
Net liabilities assumed | $ | (913 | ) | ||
Deferred tax liability | (959 | ) | |||
Intangible assets | 2,033 | ||||
Goodwill | 8,819 | ||||
Total preliminary purchase price | $ | 8,980 | |||
NComVA AB [Member] | ' | ||||
Summary of Estimated Fair Values of the Assets Acquired and Liabilities | ' | ||||
The following table summarizes the estimated fair values of the assets acquired and liabilities assumed at May 2, 2013 based on an exchange rate of 0.155 (in thousands): | |||||
Cash | $ | 517 | |||
Other assets | 18 | ||||
Liabilities assumed | (473 | ) | |||
Net assets acquired | $ | 62 | |||
Deferred tax liability | (1,605 | ) | |||
Intangible assets | 7,296 | ||||
Goodwill | 5,124 | ||||
Total purchase price | $ | 10,877 | |||
Goodwill_and_Other_Intangible_1
Goodwill and Other Intangible Assets (Tables) | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
Goodwill And Intangible Assets Disclosure [Abstract] | ' | ||||||||||||||||||||||||
Rollforward of Company's Goodwill Activity | ' | ||||||||||||||||||||||||
The following table provides a rollforward of the Company’s goodwill: | |||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||
Balance at January 1 | $ | 7,367 | $ | 2,800 | |||||||||||||||||||||
Acquisitions | 13,943 | 4,701 | |||||||||||||||||||||||
Impact of foreign currency translation | (77 | ) | (134 | ) | |||||||||||||||||||||
Balance at December 31 | $ | 21,233 | $ | 7,367 | |||||||||||||||||||||
Summary of Intangible Assets Subject to Amortization | ' | ||||||||||||||||||||||||
The following table provides information regarding the Company’s intangible assets subject to amortization: | |||||||||||||||||||||||||
December 31, 2013 | December 31, 2012 | ||||||||||||||||||||||||
Gross | Accumulated | Net | Gross | Accumulated | Net | ||||||||||||||||||||
Amount | Amortization | Amount | Amount | Amortization | Amount | ||||||||||||||||||||
Acquired technology | $ | 13,442 | $ | (3,020 | ) | $ | 10,422 | $ | 6,120 | $ | (858 | ) | $ | 5,262 | |||||||||||
Customer relationships and other identified intangible assets | 2,775 | (690 | ) | 2,085 | 735 | (690 | ) | 45 | |||||||||||||||||
Trade names | 391 | (203 | ) | 188 | 390 | (72 | ) | 318 | |||||||||||||||||
Total | $ | 16,608 | $ | (3,913 | ) | $ | 12,695 | $ | 7,245 | $ | (1,620 | ) | $ | 5,625 | |||||||||||
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||
Summary of Assets and Liabilities Measured at Fair Value | ' | ||||||||||||||||
The following table sets forth the Company’s assets and liabilities that were measured at fair value as of December 31, 2013 and 2012, by level within the fair value hierarchy: | |||||||||||||||||
Amounts at | Fair Value Measurement Using | ||||||||||||||||
Fair Value | Level 1 | Level 2 | Level 3 | ||||||||||||||
As of December 31, 2013 | |||||||||||||||||
Assets | |||||||||||||||||
Cash and cash equivalents | $ | 227,693 | $ | 227,693 | $ | — | $ | — | |||||||||
Liabilities | |||||||||||||||||
Accrued contingent consideration | $ | 2,263 | $ | — | $ | — | $ | 2,263 | |||||||||
As of December 31, 2012 | |||||||||||||||||
Assets | |||||||||||||||||
Cash and cash equivalents | $ | 195,803 | $ | 195,803 | $ | — | $ | — | |||||||||
Liabilities | |||||||||||||||||
Accrued contingent consideration | $ | 317 | $ | — | $ | — | $ | 317 | |||||||||
Reconciliation of Acquisition Related Accrued Contingent Consideration | ' | ||||||||||||||||
A reconciliation of the beginning and ending balances of acquisition related accrued contingent consideration using significant unobservable inputs (Level 3) for the year ended December 31, 2013 follows: | |||||||||||||||||
Accrued contingent consideration as of December 31, 2012 | $ | 317 | |||||||||||||||
Acquisition date fair value of contingent consideration | 3,496 | ||||||||||||||||
Change in fair value of contingent consideration | (94 | ) | |||||||||||||||
Payment of contingent consideration | (1,456 | ) | |||||||||||||||
Accrued contingent consideration as of December 31, 2013 | $ | 2,263 | |||||||||||||||
Property_and_Equipment_Net_Tab
Property and Equipment, Net (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Property Plant And Equipment [Abstract] | ' | ||||||||
Summary of Property and Equipment, Net | ' | ||||||||
The following is a summary of property and equipment, net: | |||||||||
December 31, | |||||||||
2013 | 2012 | ||||||||
Computers and equipment | $ | 20,298 | $ | 14,858 | |||||
Furniture and fixtures | 7,854 | 5,003 | |||||||
Leasehold improvements | 7,100 | 5,938 | |||||||
35,252 | 25,799 | ||||||||
Less: accumulated depreciation | (13,752 | ) | (8,751 | ) | |||||
$ | 21,500 | $ | 17,048 | ||||||
Provision_for_Income_Taxes_Tab
Provision for Income Taxes (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||||||
Income Before Provision for Income Taxes | ' | ||||||||||||
Income before provision for income taxes is allocated as follows: | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
U.S. operations | $ | (2,259 | ) | $ | (3,452 | ) | $ | (6,965 | ) | ||||
Foreign operations | 3,159 | 15,191 | 25,829 | ||||||||||
Income before provision for income taxes | $ | 900 | $ | 11,739 | $ | 18,864 | |||||||
Provision (Benefit) for Income Taxes | ' | ||||||||||||
Provision (benefit) for income taxes is comprised of the following: | |||||||||||||
Current | Deferred | Total | |||||||||||
Year ended December 31, 2013: | |||||||||||||
U.S. federal | $ | 2,524 | $ | — | $ | 2,524 | |||||||
State and local | 390 | — | 390 | ||||||||||
Foreign | 10,411 | (2,446 | ) | 7,965 | |||||||||
$ | 13,325 | $ | (2,446 | ) | $ | 10,879 | |||||||
Year ended December 31, 2012 (1): | |||||||||||||
U.S. federal | $ | 2,772 | $ | — | $ | 2,772 | |||||||
State and local | 485 | — | 485 | ||||||||||
Foreign | 5,295 | (652 | ) | 4,643 | |||||||||
$ | 8,552 | $ | (652 | ) | $ | 7,900 | |||||||
Year ended December 31, 2011 (1): | |||||||||||||
U.S. federal | $ | 1,026 | $ | 1,105 | $ | 2,131 | |||||||
State and local | 290 | 222 | 512 | ||||||||||
Foreign | 7,938 | (761 | ) | 7,177 | |||||||||
$ | 9,254 | $ | 566 | $ | 9,820 | ||||||||
-1 | The provisions for income taxes for the years ended December 31, 2012 and 2011 were revised to reclassify a portion of the total expense that was previously reported as deferred expense to current expense. | ||||||||||||
Provision for Income Taxes Differs from Amount of Taxes Determined by Applying U.S. Federal Statutory Income Tax Rate to Income Before Provision for Income Taxes | ' | ||||||||||||
The provision for income taxes differs from the amount of taxes determined by applying the U.S. federal statutory income tax rate to income before the provision for income taxes as a result of the following: | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
U.S. federal statutory income tax | $ | 306 | $ | 3,991 | $ | 6,414 | |||||||
Increase (reduction) in income taxes resulting from: | |||||||||||||
Effect of foreign operations | 283 | (1,394 | ) | (1,990 | ) | ||||||||
Foreign tax credit | — | — | (1,658 | ) | |||||||||
Change in valuation allowance and other reserves against tax assets | 6,411 | 3,564 | 6,076 | ||||||||||
State and local income taxes, net of federal income tax benefit | 257 | 320 | 338 | ||||||||||
Permanent differences | 3,236 | 1,792 | 1,042 | ||||||||||
Unrecognized tax benefits | (192 | ) | (453 | ) | (198 | ) | |||||||
Other | 578 | 80 | (204 | ) | |||||||||
Total | $ | 10,879 | $ | 7,900 | $ | 9,820 | |||||||
Components of Deferred Tax Assets and Liabilities | ' | ||||||||||||
Significant components of the Company’s deferred tax assets and liabilities are as follows: | |||||||||||||
December 31, 2013 | December 31, 2012 | ||||||||||||
Deferred tax assets: | |||||||||||||
Accrued expenses | $ | 2,705 | $ | 1,962 | |||||||||
Foreign tax credits | 2,436 | 2,436 | |||||||||||
Stock-based compensation | 9,430 | 6,379 | |||||||||||
Other assets | 2,448 | 2,209 | |||||||||||
Net operating loss carryforwards | 5,873 | 8,785 | |||||||||||
Total gross deferred tax assets | 22,892 | 21,771 | |||||||||||
Less: valuation allowance | (15,280 | ) | (18,667 | ) | |||||||||
Net deferred tax assets | 7,612 | 3,104 | |||||||||||
Deferred tax liabilities: | |||||||||||||
Depreciation and amortization | (4,707 | ) | (541 | ) | |||||||||
Other | (350 | ) | (253 | ) | |||||||||
Total deferred tax liabilities | (5,057 | ) | (794 | ) | |||||||||
Total net deferred tax assets | $ | 2,555 | $ | 2,310 | |||||||||
As reported | |||||||||||||
Deferred tax assets, current | $ | 1,886 | $ | 1,211 | |||||||||
Deferred tax assets, non-current | 2,107 | 1,761 | |||||||||||
Deferred tax liabilities, current | (544 | ) | (150 | ) | |||||||||
Deferred tax liabilities, non-current | (894 | ) | (512 | ) | |||||||||
Total net deferred tax assets | $ | 2,555 | $ | 2,310 | |||||||||
Summary of Changes in Valuation Allowance on Deferred Tax Assets | ' | ||||||||||||
The following table summarizes the changes in the Company’s valuation allowance on deferred tax assets for the period indicated: | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Balance at the beginning of the period | $ | 18,667 | $ | 7,903 | $ | 1,824 | |||||||
Amounts charged to (reducing) expense | (3,166 | ) | 3,564 | 6,076 | |||||||||
Acquisition related | — | 7,436 | — | ||||||||||
Other increases (decreases) | (221 | ) | (236 | ) | 3 | ||||||||
Balance at the end of the period | $ | 15,280 | $ | 18,667 | $ | 7,903 | |||||||
Changes to Unrecognized Tax Benefits | ' | ||||||||||||
The following table indicates the changes to the Company’s unrecognized tax benefits: | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Beginning balance | $ | 2,435 | $ | 2,871 | $ | 3,096 | |||||||
Expiration of statute of limitations for the assessment of taxes | (211 | ) | (333 | ) | (115 | ) | |||||||
Increase related to current tax year | 126 | 124 | 175 | ||||||||||
Increase (decrease) related to prior tax years | — | (244 | ) | (259 | ) | ||||||||
Foreign currency translation adjustments | (9 | ) | 17 | (26 | ) | ||||||||
Ending balance | $ | 2,341 | $ | 2,435 | $ | 2,871 | |||||||
Commitments_and_Contingencies_
Commitments and Contingencies (Tables) | 12 Months Ended | ||||
Dec. 31, 2013 | |||||
Commitments And Contingencies Disclosure [Abstract] | ' | ||||
Future Minimum Lease Payments Under Non-Cancelable Operating Leases | ' | ||||
The future minimum lease payments under non-cancelable operating leases are as follows: | |||||
Year ending December 31: | |||||
2014 | $ | 15,510 | |||
2015 | 12,206 | ||||
2016 | 10,249 | ||||
2017 | 9,773 | ||||
2018 | 9,670 | ||||
Thereafter | 14,505 | ||||
Total future minimum lease payments | $ | 71,913 | |||
Business_and_Geographic_Segmen1
Business and Geographic Segment Information (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||
Net Revenues Based on Geographic Area | ' | ||||||||||||
The following geographic data includes revenues generated by subsidiaries located within that geographic region. The Company’s revenues were generated in the following geographic regions for the periods indicated: | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
The Americas | $ | 174,510 | $ | 135,008 | $ | 105,372 | |||||||
Europe | 249,109 | 216,564 | 187,900 | ||||||||||
Rest of world | 46,831 | 36,965 | 27,347 | ||||||||||
Consolidated total | $ | 470,450 | $ | 388,537 | $ | 320,619 | |||||||
Property and Equipment Based on Physical Location within that Geographic Area | ' | ||||||||||||
The following geographic data includes property and equipment, net based on physical location within that geographic region. | |||||||||||||
As of December 31, | |||||||||||||
2013 | 2012 | ||||||||||||
The Americas | $ | 11,117 | $ | 7,730 | |||||||||
Europe | 9,190 | 8,655 | |||||||||||
Rest of world | 1,193 | 663 | |||||||||||
Consolidated total | $ | 21,500 | $ | 17,048 | |||||||||
ShareBased_Compensation_Tables
Share-Based Compensation (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' | ||||||||||||
Summary of Common Stock Option Activity | ' | ||||||||||||
The following provides a summary of the common stock option activity for the Company as of the noted dates: | |||||||||||||
Number of | Weighted- | Weighted- | |||||||||||
Shares | Average | Average | |||||||||||
Exercise Price | Remaining | ||||||||||||
Contractual | |||||||||||||
Term (Years) | |||||||||||||
Outstanding as of January 1, 2011 | 12,053,445 | $ | 2.95 | 6.71 | |||||||||
Granted | 2,811,629 | 26.58 | — | ||||||||||
Exercised | (5,604,613 | ) | 1.71 | — | |||||||||
Forfeited | (400,810 | ) | 11.41 | — | |||||||||
Outstanding as of December 31, 2011 | 8,859,651 | $ | 10.84 | 7.38 | |||||||||
Granted | 4,188,950 | 21.4 | — | ||||||||||
Exercised | (1,833,377 | ) | 2.97 | — | |||||||||
Forfeited | (798,866 | ) | 18.27 | — | |||||||||
Outstanding as of December 31, 2012 | 10,416,358 | $ | 15.89 | 7.82 | |||||||||
Granted | 2,676,274 | 27.85 | — | ||||||||||
Exercised | (2,572,273 | ) | 8.99 | — | |||||||||
Forfeited | (723,543 | ) | 22.98 | — | |||||||||
Outstanding as of December 31, 2013 | 9,796,816 | $ | 20.44 | 7.79 | |||||||||
Exercisable at December 31, 2013 | 4,091,832 | $ | 14.68 | 6.39 | |||||||||
Vested and expected to vest at December 31, 2013 | 9,242,406 | $ | 20.19 | 7.73 | |||||||||
Assumptions Used in Black-Scholes Option Pricing Model | ' | ||||||||||||
The assumptions used in the Black-Scholes option pricing model are: | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Expected dividend yield | 0.00% | 0.00% | 0.00% | ||||||||||
Risk-free interest rate | 0.9% - 1.7% | 0.8% - 1.2% | 1.1% - 2.7% | ||||||||||
Expected volatility | 46.6% - 47.7% | 46.7% - 47.5% | 45.3% - 47.0% | ||||||||||
Expected term (all other grants, in years) | 5.19 - 6.25 | 6.25 | 6.25 | ||||||||||
Summary of Restricted Stock Unit Activity | ' | ||||||||||||
The following provides a summary of the restricted stock unit activity for the Company as of the noted dates: | |||||||||||||
Number of | Weighted- | ||||||||||||
Shares | Average | ||||||||||||
Grant Date | |||||||||||||
Fair Value | |||||||||||||
Unvested as of January 1, 2011 | 40,820 | $ | 11.02 | ||||||||||
Granted | 86,692 | 30.02 | |||||||||||
Vested | (40,820 | ) | 11.02 | ||||||||||
Forfeited | — | — | |||||||||||
Unvested as of December 31, 2011 | 86,692 | $ | 30.02 | ||||||||||
Granted | 225,795 | 22.36 | |||||||||||
Vested | (55,092 | ) | 29.63 | ||||||||||
Forfeited | (7,597 | ) | 27.97 | ||||||||||
Unvested as of December 31, 2012 | 249,798 | $ | 23.25 | ||||||||||
Granted | 233,215 | 29.8 | |||||||||||
Vested | (93,842 | ) | 24.14 | ||||||||||
Forfeited | (16,719 | ) | 23.4 | ||||||||||
Unvested as of December 31, 2013 | 372,452 | $ | 27.12 | ||||||||||
Summary of Maximum Value Stock-Settled Stock Appreciation Rights Activity | ' | ||||||||||||
The following provides a summary of the MVSSSAR activity for the Company as of the noted dates: | |||||||||||||
Number of | Weighted- | ||||||||||||
Shares | Average | ||||||||||||
Grant Date | |||||||||||||
Fair Value | |||||||||||||
Outstanding as of January 1, 2011 | — | $ | — | ||||||||||
Granted | 393,978 | 30.33 | |||||||||||
Exercised | — | — | |||||||||||
Forfeited | (6,192 | ) | 35.43 | ||||||||||
Outstanding as of December 31, 2011 | 387,786 | $ | 30.25 | ||||||||||
Granted | 454,225 | 21.04 | |||||||||||
Exercised | — | — | |||||||||||
Forfeited | (58,461 | ) | 28.97 | ||||||||||
Outstanding as of December 31, 2012 | 783,550 | $ | 25.01 | ||||||||||
Granted | 375,060 | 27.09 | |||||||||||
Exercised | (141,627 | ) | 24.75 | ||||||||||
Forfeited | (42,314 | ) | 25.72 | ||||||||||
Outstanding as of December 31, 2013 | 974,669 | $ | 25.81 | ||||||||||
Shares_Reserved_for_Future_Iss1
Shares Reserved for Future Issuance (Tables) | 12 Months Ended | ||||
Dec. 31, 2013 | |||||
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' | ||||
Schedule of Shares Reserved for Future Issuance | ' | ||||
At December 31, 2013, the Company had reserved a total of its authorized shares of common stock for issuance under its equity incentive plan and other classes of stock for future issuance as follows: | |||||
Granted and outstanding stock options, restricted stock units and MVSSSARs | 10,526,135 | ||||
Future issuance of stock options | 2,830,773 | ||||
Future issuance of preferred stock | 10,000,000 |
Comparison_of_Summarized_Unaud1
Comparison of Summarized Unaudited Quarterly Results (Tables) | 12 Months Ended | ||||||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | ' | ||||||||||||||||||||||||||||||||
Operating Quarterly Results | ' | ||||||||||||||||||||||||||||||||
The following table sets forth certain unaudited quarterly financial information for fiscal 2013 and 2012. This data should be read together with the Company’s consolidated financial statements and the related notes included elsewhere in this Annual Report on Form 10-K. The Company has prepared the unaudited information on a basis consistent with its audited financial statements and have included all adjustments of a normal and recurring nature, which, in the opinion of management, are considered necessary to fairly present the Company’s revenue and operating expenses for the quarters presented. The Company’s historical operating results for any quarter are not necessarily indicative of results for any future period. | |||||||||||||||||||||||||||||||||
For the Three Months Ended | |||||||||||||||||||||||||||||||||
March 31, | June 30, | September 30, | December 31, | March 31, | June 30, | September 30, | December 31, | ||||||||||||||||||||||||||
2012 | 2012 | 2012 | 2012 | 2013 | 2013 | 2013 | 2013 | ||||||||||||||||||||||||||
Consolidated statement of operations data: | |||||||||||||||||||||||||||||||||
Revenue | $ | 79,155 | $ | 85,801 | $ | 86,096 | $ | 137,485 | $ | 96,548 | $ | 108,007 | $ | 104,100 | $ | 161,795 | |||||||||||||||||
Cost of revenue | 9,461 | 9,817 | 10,247 | 13,764 | 14,356 | 14,594 | 14,942 | 17,931 | |||||||||||||||||||||||||
Gross profit | 69,694 | 75,984 | 75,849 | 123,721 | 82,192 | 93,413 | 89,158 | 143,864 | |||||||||||||||||||||||||
Total operating expenses | 77,472 | 78,338 | 77,619 | 97,189 | 98,953 | 102,505 | 92,557 | 111,190 | |||||||||||||||||||||||||
Income (loss) from operations | (7,778 | ) | (2,354 | ) | (1,770 | ) | 26,532 | (16,761 | ) | (9,092 | ) | (3,399 | ) | 32,674 | |||||||||||||||||||
Other income (expense), net | (1,394 | ) | 115 | (1,676 | ) | 64 | (1,451 | ) | (469 | ) | 64 | (666 | ) | ||||||||||||||||||||
Income (loss) before income taxes | $ | (9,172 | ) | $ | (2,239 | ) | $ | (3,446 | ) | $ | 26,596 | $ | (18,212 | ) | $ | (9,561 | ) | $ | (3,335 | ) | $ | 32,008 | |||||||||||
Benefit (provision) for income taxes | 1,636 | 198 | 3,597 | (13,331 | ) | 5,006 | 1,512 | 6,330 | (23,727 | ) | |||||||||||||||||||||||
Net income (loss) | $ | (7,536 | ) | $ | (2,041 | ) | $ | 151 | $ | 13,265 | $ | (13,206 | ) | $ | (8,049 | ) | $ | 2,995 | $ | 8,281 | |||||||||||||
Net income (loss) per common share: | |||||||||||||||||||||||||||||||||
Basic | $ | (0.09 | ) | $ | (0.02 | ) | $ | 0 | $ | 0.15 | $ | (0.15 | ) | $ | (0.09 | ) | $ | 0.03 | $ | 0.09 | |||||||||||||
Diluted | $ | (0.09 | ) | $ | (0.02 | ) | $ | 0 | $ | 0.15 | $ | (0.15 | ) | $ | (0.09 | ) | $ | 0.03 | $ | 0.09 |
Significant_Accounting_Policie3
Significant Accounting Policies - Summary of Changes in Allowances for Doubtful Accounts (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Accounting Policies [Abstract] | ' | ' | ' |
Balance at the beginning of the period | $704 | $891 | $807 |
Amounts to expense | 1,829 | 2,120 | 468 |
Accounts written off | -1,091 | -2,307 | -384 |
Balance at the end of the period | $1,442 | $704 | $891 |
Significant_Accounting_Policie4
Significant Accounting Policies - Additional Information (Detail) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Country | |||
Partner | |||
Significant Of Accounting Policies [Line Items] | ' | ' | ' |
Maximum percentage of revenue represented by any customer | 2.00% | 2.00% | 2.00% |
Number of partners | 1,700 | ' | ' |
Number of countries in which entity operates | 100 | ' | ' |
Maximum percentage of company's revenue represented by individual partner | 2.00% | 3.00% | 3.00% |
Impairment | $0 | $0 | $0 |
Intangible assets estimated useful life | '5 years 4 months 24 days | ' | ' |
Contractual term of maintenance contracts | '12 months | ' | ' |
Standard warranty period for software products | '120 days | ' | ' |
Advertising expense | $22,500,000 | $21,000,000 | $20,800,000 |
Minimum [Member] | ' | ' | ' |
Significant Of Accounting Policies [Line Items] | ' | ' | ' |
Intangible assets estimated useful life | '3 years | ' | ' |
Maximum [Member] | ' | ' | ' |
Significant Of Accounting Policies [Line Items] | ' | ' | ' |
Intangible assets estimated useful life | '9 years | ' | ' |
Computers and Equipment [Member] | ' | ' | ' |
Significant Of Accounting Policies [Line Items] | ' | ' | ' |
Estimated useful lives | '3 years | ' | ' |
Furniture and Fixtures [Member] | ' | ' | ' |
Significant Of Accounting Policies [Line Items] | ' | ' | ' |
Estimated useful lives | '5 years | ' | ' |
Significant_Accounting_Policie5
Significant Accounting Policies - Stock-Based Compensation Expense Included in Consolidated Statements of Operations (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' |
Stock-based compensation expense | $28,918 | $19,315 | $10,206 |
Cost of Revenue [Member] | ' | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' |
Stock-based compensation expense | 2,854 | 1,651 | 701 |
Sales and Marketing [Member] | ' | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' |
Stock-based compensation expense | 13,374 | 10,337 | 5,672 |
Research and Development [Member] | ' | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' |
Stock-based compensation expense | 3,386 | 2,058 | 710 |
General and Administrative [Member] | ' | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' |
Stock-based compensation expense | $9,304 | $5,269 | $3,123 |
Significant_Accounting_Policie6
Significant Accounting Policies - Computation of Basic and Diluted Net Income Per Common Share (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Basic net income (loss) per common share calculation: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income (loss) attributable to common shares | $8,281 | $2,995 | ($8,049) | ($13,206) | $13,265 | $151 | ($2,041) | ($7,536) | ($9,979) | $3,839 | $9,044 |
Weighted average common shares outstanding | ' | ' | ' | ' | ' | ' | ' | ' | 87,702,222 | 85,423,074 | 82,043,958 |
Basic net income (loss) per common share | $0.09 | $0.03 | ($0.09) | ($0.15) | $0.15 | $0 | ($0.02) | ($0.09) | ($0.11) | $0.04 | $0.11 |
Diluted net income (loss) per common share calculation: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income (loss) attributable to common shares | $8,281 | $2,995 | ($8,049) | ($13,206) | $13,265 | $151 | ($2,041) | ($7,536) | ($9,979) | $3,839 | $9,044 |
Weighted average shares used to compute basic net income (loss) per share | ' | ' | ' | ' | ' | ' | ' | ' | 87,702,222 | 85,423,074 | 82,043,958 |
Effect of potentially dilutive securities: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock options and restricted stock units | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,217,770 | 3,530,456 |
Weighted average shares used to compute diluted net income (loss) per share | ' | ' | ' | ' | ' | ' | ' | ' | 87,702,222 | 87,640,844 | 85,574,414 |
Diluted net income (loss) per common share | $0.09 | $0.03 | ($0.09) | ($0.15) | $0.15 | $0 | ($0.02) | ($0.09) | ($0.11) | $0.04 | $0.11 |
Significant_Accounting_Policie7
Significant Accounting Policies - Diluted Net Income (loss) Per Common Share for Periods Presented Does Not Reflect Following Potential Common Shares (Detail) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' |
Anti-dilutive securities excluded from computation of earnings per share, amount | 10,526,135 | 2,658,159 | 3,475,761 |
Common Stock Options [Member] | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' |
Anti-dilutive securities excluded from computation of earnings per share, amount | 9,796,816 | 2,515,661 | 3,017,776 |
Restricted Stock Units [Member] | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' |
Anti-dilutive securities excluded from computation of earnings per share, amount | 372,452 | 126,020 | 70,200 |
MVSSSARs [Member] | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' |
Anti-dilutive securities excluded from computation of earnings per share, amount | 356,867 | 16,478 | 387,785 |
Acquisitions_Additional_Inform
Acquisitions - Additional Information (Detail) | 12 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | 1 Months Ended | 12 Months Ended | 0 Months Ended | ||||||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Oct. 03, 2013 | 2-May-13 | Oct. 03, 2013 | Oct. 03, 2013 | Dec. 31, 2013 | 2-May-13 | Oct. 31, 2013 | Dec. 31, 2013 | 2-May-13 | Jun. 11, 2012 | |
USD ($) | USD ($) | USD ($) | Qlik Tech Italy [Member] | Qlik Tech Italy [Member] | Qlik Tech Italy [Member] | NComVA [Member] | NComVA [Member] | NComVA [Member] | NComVA [Member] | Expressor [Member] | |||
USD ($) | EUR (€) | Customer Relationships [Member] | USD ($) | USD ($) | USD ($) | SEK | USD ($) | ||||||
USD ($) | |||||||||||||
Business Acquisition [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total preliminary maximum purchase price | ' | ' | ' | ' | ' | $10,200,000 | € 7,500,000 | ' | ' | ' | ' | ' | ' |
Assumed exchange rate at the date of acquisition | ' | ' | ' | 1.355 | 0.155 | 1.355 | ' | ' | 0.155 | ' | ' | ' | ' |
Payment of contingent consideration | 1,456,000 | 202,000 | 179,000 | ' | ' | 1,400,000 | ' | ' | ' | 1,200,000 | ' | ' | ' |
Fair value of business combination contingent liability | ' | ' | ' | ' | ' | 200,000 | ' | ' | ' | ' | ' | ' | ' |
Intangible assets | ' | ' | ' | ' | ' | ' | ' | 2,000,000 | ' | ' | ' | ' | ' |
Estimated useful life | '5 years 4 months 24 days | ' | ' | ' | ' | ' | ' | '9 years | ' | ' | '5 years | ' | '5 years |
Total maximum purchase price | ' | ' | ' | ' | ' | 8,980,000 | ' | ' | 10,877,000 | ' | ' | 70,400,000 | ' |
Portion of purchase price paid to sellers | ' | ' | ' | ' | ' | ' | ' | ' | 4,900,000 | ' | ' | ' | ' |
Deferred purchase price | ' | ' | ' | ' | ' | ' | ' | ' | 2,700,000 | ' | ' | ' | ' |
Contingent cash considered to be paid on Acquisition | 2,263,000 | 317,000 | ' | ' | ' | ' | ' | ' | 2,100,000 | ' | 3,500 | ' | ' |
Contingent cash considered to be paid on Acquisition | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' |
Contingent cash considered to be paid on Acquisition | ' | ' | ' | ' | ' | ' | ' | ' | 3,300,000 | ' | ' | ' | ' |
Contingent cash consideration payment to sellers | 1,456,000 | ' | ' | ' | ' | ' | ' | ' | ' | 1,200,000 | ' | ' | ' |
Total consideration on acquisition, net of cash acquired | 13,351,000 | 10,792,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10,800,000 |
Purchase price allocation of definite-lived intangible assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6,300,000 |
Goodwill | 21,233,000 | 7,367,000 | 2,800,000 | ' | ' | 8,819,000 | ' | ' | 5,124,000 | ' | ' | ' | 4,700,000 |
Recognized deferred tax asset in connection with acquisition | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7,600,000 |
Deferred tax assets, net operating loss carryforwards | $5,873,000 | $8,785,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $11,700,000 |
Acquisitions_Summary_of_Estima
Acquisitions - Summary of Estimated Fair Values of the Assets Acquired and Liabilities (Detail) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Oct. 03, 2013 | 2-May-13 | 2-May-13 |
In Thousands, unless otherwise specified | USD ($) | USD ($) | USD ($) | Qlik Tech Italy [Member] | NComVA [Member] | NComVA [Member] |
USD ($) | USD ($) | SEK | ||||
Business Acquisition [Line Items] | ' | ' | ' | ' | ' | ' |
Cash | ' | ' | ' | ' | $517 | ' |
Other assets | ' | ' | ' | 63 | 18 | ' |
Property and equipment | ' | ' | ' | 421 | ' | ' |
Liabilities assumed | ' | ' | ' | -1,397 | -473 | ' |
Net assets acquired | ' | ' | ' | -913 | 62 | ' |
Deferred tax liability | ' | ' | ' | -959 | -1,605 | ' |
Intangible assets | ' | ' | ' | 2,033 | 7,296 | ' |
Goodwill | 21,233 | 7,367 | 2,800 | 8,819 | 5,124 | ' |
Total preliminary purchase price | ' | ' | ' | $8,980 | $10,877 | 70,400 |
Goodwill_and_Other_Intangible_2
Goodwill and Other Intangible Assets - Additional Information (Detail) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Impairment cost | $0 | $0 | $0 |
Amortization of intangible assets | 2.3 | 0.9 | 0.2 |
Estimated aggregate amortization expense for 2014 | 3.1 | ' | ' |
Estimated aggregate amortization expense for 2015 | 2.9 | ' | ' |
Estimated aggregate amortization expense for 2016 | 2.9 | ' | ' |
Estimated aggregate amortization expense for 2017 | 2.2 | ' | ' |
Estimated aggregate amortization expense for 2018 | 0.7 | ' | ' |
Estimated aggregate amortization expense for thereafter through 2022 | $0.90 | ' | ' |
Weighted average amortization period | '5 years 4 months 24 days | ' | ' |
Acquired Technology [Member] | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Weighted average amortization period | '5 years | ' | ' |
Customer Relationships and Other Identified Intangible Assets [Member] | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Weighted average amortization period | '7 years 6 months | ' | ' |
Trade Names [Member] | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Weighted average amortization period | '3 years | ' | ' |
Goodwill_and_Other_Intangible_3
Goodwill and Other Intangible Assets - Rollforward of Company's Goodwill Activity (Detail) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Goodwill And Intangible Assets Disclosure [Abstract] | ' | ' |
Balance at January 1 | $7,367 | $2,800 |
Acquisitions | 13,943 | 4,701 |
Impact of foreign currency translation | -77 | -134 |
Balance at December 31 | $21,233 | $7,367 |
Goodwill_and_Other_Intangible_4
Goodwill and Other Intangible Assets - Summary of Intangible Assets Subject to Amortization (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Gross Amount | $16,608 | $7,245 |
Accumulated Amortization | -3,913 | -1,620 |
Net Amount | 12,695 | 5,625 |
Acquired Technology [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Gross Amount | 13,442 | 6,120 |
Accumulated Amortization | -3,020 | -858 |
Net Amount | 10,422 | 5,262 |
Customer Relationships and Other Identified Intangible Assets [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Gross Amount | 2,775 | 735 |
Accumulated Amortization | -690 | -690 |
Net Amount | 2,085 | 45 |
Trade Names [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Gross Amount | 391 | 390 |
Accumulated Amortization | -203 | -72 |
Net Amount | $188 | $318 |
Fair_Value_Measurements_Summar
Fair Value Measurements - Summary of Assets and Liabilities Measured at Fair Value (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Assets | ' | ' |
Cash and cash equivalents | $227,693 | $195,803 |
Liabilities | ' | ' |
Accrued contingent consideration | 2,263 | 317 |
Fair Value, Inputs, Level 1 [Member] | ' | ' |
Assets | ' | ' |
Cash and cash equivalents | 227,693 | 195,803 |
Liabilities | ' | ' |
Accrued contingent consideration | ' | ' |
Fair Value, Inputs, Level 2 [Member] | ' | ' |
Assets | ' | ' |
Cash and cash equivalents | ' | ' |
Liabilities | ' | ' |
Accrued contingent consideration | ' | ' |
Level 3 [Member] | ' | ' |
Assets | ' | ' |
Cash and cash equivalents | ' | ' |
Liabilities | ' | ' |
Accrued contingent consideration | $2,263 | $317 |
Fair_Value_Measurements_Additi
Fair Value Measurements - Additional Information (Detail) (USD $) | 12 Months Ended | |||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | 2-May-13 | |
NComVA [Member] | NComVA [Member] | |||
Fair Value Of Assets And Liabilities Measured On Recurring And Non Recurring Basis [Line Items] | ' | ' | ' | ' |
Other Non-Recurring Fair Value Adjustments | $0 | ' | ' | ' |
Accrued contingent consideration liability | $2,263,000 | $317,000 | $3,500 | $2,100,000 |
Fair_Value_Measurements_Reconc
Fair Value Measurements - Reconciliation of Acquisition Related Accrued Contingent Consideration (Detail) (USD $) | 12 Months Ended |
Dec. 31, 2013 | |
Fair Value Of Assets And Liabilities Measured On Recurring And Non Recurring Basis [Line Items] | ' |
Accrued contingent consideration, Beginning Balance | $317,000 |
Acquisition date fair value of contingent consideration | 3,496,000 |
Payment of contingent consideration | -1,456,000 |
Accrued contingent consideration, Ending Balance | 2,263,000 |
Changes Measurement [Member] | Level 3 [Member] | ' |
Fair Value Of Assets And Liabilities Measured On Recurring And Non Recurring Basis [Line Items] | ' |
Change in fair value of contingent consideration | ($94,000) |
Property_and_Equipment_Net_Sum
Property and Equipment, Net - Summary of Property and Equipment, Net (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Property, Plant and Equipment [Line Items] | ' | ' |
Property and equipment, gross | $35,252 | $25,799 |
Less: accumulated depreciation | -13,752 | -8,751 |
Property and equipment, net | 21,500 | 17,048 |
Computers and Equipment [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property and equipment, gross | 20,298 | 14,858 |
Furniture and Fixtures [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property and equipment, gross | 7,854 | 5,003 |
Leasehold Improvements [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property and equipment, gross | $7,100 | $5,938 |
Property_and_Equipment_Net_Add
Property and Equipment, Net - Additional Information (Detail) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Property Plant And Equipment Useful Life And Values [Abstract] | ' | ' | ' |
Depreciation and amortization | $5.70 | $4.40 | $2.80 |
Provision_for_Income_Taxes_Add
Provision for Income Taxes - Additional Information (Detail) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Income Tax Disclosure [Line Items] | ' | ' | ' |
Effective tax rate | 1208.80% | 67.30% | 52.10% |
Net operating loss carry forwards, U.S. federal | $5,873,000 | $8,785,000 | ' |
State net operating loss carry forwards | 25,200,000 | ' | ' |
Foreign net operating loss carry forwards | 7,300,000 | ' | ' |
Expiry date of operating loss carry forward | 'Between 2020 and 2032 | ' | ' |
Income tax benefit from cumulative income tax deductions | 134,200,000 | ' | ' |
Income tax benefits resulting from stockholders' equity awards | 4,047,000 | 4,789,000 | 2,443,000 |
Unrecognized tax benefits would affect effective tax rate | 700,000 | ' | ' |
Company does not expect its unrecognized tax benefit liability to change significantly | 'Over the next 12 months | ' | ' |
Accrued interest and penalties | 100,000 | 100,000 | ' |
Income tax examination | 'Subject to non-U.S. Income tax examination for the tax years 2008 through 2013 | ' | ' |
Foreign Subsidiaries [Member] | ' | ' | ' |
Income Tax Disclosure [Line Items] | ' | ' | ' |
Provision for U.S. Federal and State Income Taxes of foreign earnings | ' | ' | ' |
Maximum [Member] | ' | ' | ' |
Income Tax Disclosure [Line Items] | ' | ' | ' |
Interest and penalties recorded in income tax expense | 100,000 | 100,000 | 100,000 |
U.S. federal [Member] | ' | ' | ' |
Income Tax Disclosure [Line Items] | ' | ' | ' |
Net operating loss carry forwards, U.S. federal | 12,700,000 | ' | ' |
Federal tax credits | 2,400,000 | ' | ' |
Expiry date of federal tax credits | '2020 | ' | ' |
Foreign entities [Member] | ' | ' | ' |
Income Tax Disclosure [Line Items] | ' | ' | ' |
Foreign earnings | $60,100,000 | ' | ' |
Provision_for_Income_Taxes_Inc
Provision for Income Taxes - Income Before Provision for Income Taxes (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Income Tax Disclosure [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
U.S. operations | ' | ' | ' | ' | ' | ' | ' | ' | ($2,259) | ($3,452) | ($6,965) |
Foreign operations | ' | ' | ' | ' | ' | ' | ' | ' | 3,159 | 15,191 | 25,829 |
Income before provision for income taxes | $32,008 | ($3,335) | ($9,561) | ($18,212) | $26,596 | ($3,446) | ($2,239) | ($9,172) | $900 | $11,739 | $18,864 |
Provision_for_Income_Taxes_Pro
Provision for Income Taxes - Provision (Benefit) for Income Taxes (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Income Tax Disclosure [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
U.S. Federal, Current | ' | ' | ' | ' | ' | ' | ' | ' | $2,524 | $2,772 | $1,026 |
State and Local, Current | ' | ' | ' | ' | ' | ' | ' | ' | 390 | 485 | 290 |
Foreign, Current | ' | ' | ' | ' | ' | ' | ' | ' | 10,411 | 5,295 | 7,938 |
Provision (benefit) for income taxes, Current | ' | ' | ' | ' | ' | ' | ' | ' | 13,325 | 8,552 | 9,254 |
U.S. Federal, Deferred | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,105 |
State and Local, Deferred | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 222 |
Foreign, Deferred | ' | ' | ' | ' | ' | ' | ' | ' | -2,446 | -652 | -761 |
Provision (benefit) for income taxes, Deferred | ' | ' | ' | ' | ' | ' | ' | ' | -2,446 | -652 | 566 |
U.S. Federal, Total | ' | ' | ' | ' | ' | ' | ' | ' | 2,524 | 2,772 | 2,131 |
State and Local, Total | ' | ' | ' | ' | ' | ' | ' | ' | 390 | 485 | 512 |
Foreign, Total | ' | ' | ' | ' | ' | ' | ' | ' | 7,965 | 4,643 | 7,177 |
Provision (benefit) for income taxes, Total | $23,727 | ($6,330) | ($1,512) | ($5,006) | $13,331 | ($3,597) | ($198) | ($1,636) | $10,879 | $7,900 | $9,820 |
Provision_for_Income_Taxes_Pro1
Provision for Income Taxes - Provision for Income Taxes Differs from Amount of Taxes Determined by Applying U.S. Federal Statutory Income Tax Rate to Income Before Provision for Income Taxes (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Income Tax Disclosure [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
U.S. federal statutory income tax | ' | ' | ' | ' | ' | ' | ' | ' | $306 | $3,991 | $6,414 |
Increase (reduction) in income taxes resulting from: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Effect of foreign operations | ' | ' | ' | ' | ' | ' | ' | ' | 283 | -1,394 | -1,990 |
Foreign tax credit | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -1,658 |
Change in valuation allowance and other reserves against tax assets | ' | ' | ' | ' | ' | ' | ' | ' | 6,411 | 3,564 | 6,076 |
State and local income taxes, net of federal income tax benefit | ' | ' | ' | ' | ' | ' | ' | ' | 257 | 320 | 338 |
Permanent differences | ' | ' | ' | ' | ' | ' | ' | ' | 3,236 | 1,792 | 1,042 |
Unrecognized tax benefits | ' | ' | ' | ' | ' | ' | ' | ' | -192 | -453 | -198 |
Other | ' | ' | ' | ' | ' | ' | ' | ' | 578 | 80 | -204 |
Provision (benefit) for income taxes, Total | $23,727 | ($6,330) | ($1,512) | ($5,006) | $13,331 | ($3,597) | ($198) | ($1,636) | $10,879 | $7,900 | $9,820 |
Provision_for_Income_Taxes_Com
Provision for Income Taxes - Components of Deferred Tax Assets and Liabilities (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
In Thousands, unless otherwise specified | ||||
Deferred tax assets: | ' | ' | ' | ' |
Accrued expenses | $2,705 | $1,962 | ' | ' |
Foreign tax credits | 2,436 | 2,436 | ' | ' |
Stock-based compensation | 9,430 | 6,379 | ' | ' |
Other assets | 2,448 | 2,209 | ' | ' |
Net operating loss carryforwards | 5,873 | 8,785 | ' | ' |
Total gross deferred tax assets | 22,892 | 21,771 | ' | ' |
Less: valuation allowance | -15,280 | -18,667 | -7,903 | -1,824 |
Net deferred tax assets | 7,612 | 3,104 | ' | ' |
Deferred tax liabilities: | ' | ' | ' | ' |
Depreciation and amortization | -4,707 | -541 | ' | ' |
Other | -350 | -253 | ' | ' |
Total deferred tax liabilities | -5,057 | -794 | ' | ' |
Total net deferred tax assets | 2,555 | 2,310 | ' | ' |
As reported | ' | ' | ' | ' |
Deferred tax assets, current | 1,886 | 1,211 | ' | ' |
Deferred tax assets, non-current | 2,107 | 1,761 | ' | ' |
Deferred tax liabilities, current | -544 | -150 | ' | ' |
Deferred tax liabilities, non-current | -894 | -512 | ' | ' |
Total net deferred tax assets | $2,555 | $2,310 | ' | ' |
Provision_for_Income_Taxes_Sum
Provision for Income Taxes - Summary of Changes in Valuation Allowance on Deferred Tax Assets (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Income Tax Disclosure [Abstract] | ' | ' | ' |
Balance at the beginning of the period | $18,667 | $7,903 | $1,824 |
Amounts charged to (reducing) expense | -3,166 | 3,564 | 6,076 |
Acquisition related | ' | 7,436 | ' |
Other increases (decreases) | -221 | -236 | 3 |
Balance at the end of the period | $15,280 | $18,667 | $7,903 |
Provision_for_Income_Taxes_Cha
Provision for Income Taxes - Changes to Unrecognized Tax Benefits (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Income Tax Disclosure [Abstract] | ' | ' | ' |
Beginning balance | $2,435 | $2,871 | $3,096 |
Expiration of statute of limitations for the assessment of taxes | -211 | -333 | -115 |
Increase related to current tax year | 126 | 124 | 175 |
Increase (decrease) related to prior tax years | ' | -244 | -259 |
Foreign currency translation adjustments | -9 | 17 | -26 |
Ending balance | $2,341 | $2,435 | $2,871 |
Capital_Stock_Additional_Infor
Capital Stock - Additional Information (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
Capital Stock [Line Items] | ' | ' | ' | ' |
Common stock, shares authorized | 300,000,000 | 300,000,000 | ' | ' |
Common stock, par value | $0.00 | $0.00 | ' | ' |
Preferred stock, shares authorized | 10,000,000 | 10,000,000 | ' | ' |
Preferred stock, par value | $0.00 | $0.00 | ' | ' |
Common stock, shares outstanding | 88,989,091 | 86,286,292 | ' | ' |
Common stock subject to outstanding options | 9,796,816 | 10,416,358 | 8,859,651 | 12,053,445 |
Preferred stock, shares outstanding | 0 | 0 | ' | ' |
Restricted stock units [Member] | ' | ' | ' | ' |
Capital Stock [Line Items] | ' | ' | ' | ' |
Common stock issuable | 372,452 | ' | ' | ' |
MVSSSARs [Member] | ' | ' | ' | ' |
Capital Stock [Line Items] | ' | ' | ' | ' |
Common stock issuable | 356,867 | ' | ' | ' |
Commitments_and_Contingencies_1
Commitments and Contingencies - Additional Information (Detail) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Patents | |||
Commitments And Contingencies [Line Items] | ' | ' | ' |
Patents issued for domestic country | 7 | ' | ' |
Patents pending for domestic country | 8 | ' | ' |
Patents issued for foreign country | 21 | ' | ' |
Patents pending for foreign country | 13 | ' | ' |
Rent expense | $12.70 | $11.10 | $9.90 |
Global Corporate Headquarters and Principal Executive Offices [Member] | ' | ' | ' |
Commitments And Contingencies [Line Items] | ' | ' | ' |
Lease agreement term | '10 years | ' | ' |
Lease agreement expiration period | 31-Dec-21 | ' | ' |
Primary Research and Development Center [Member] | ' | ' | ' |
Commitments And Contingencies [Line Items] | ' | ' | ' |
Lease agreement term | '8 years | ' | ' |
Lease agreement expiration period | 30-Jun-19 | ' | ' |
Office [Member] | ' | ' | ' |
Commitments And Contingencies [Line Items] | ' | ' | ' |
Lease agreement term | '10 years | ' | ' |
Lease agreement expiration period | 31-Mar-22 | ' | ' |
Commitments_and_Contingencies_2
Commitments and Contingencies - Future Minimum Lease Payments Under Non-Cancelable Operating Leases (Detail) (USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Commitments And Contingencies Disclosure [Abstract] | ' |
2014 | $15,510 |
2015 | 12,206 |
2016 | 10,249 |
2017 | 9,773 |
2018 | 9,670 |
Thereafter | 14,505 |
Total future minimum lease payments | $71,913 |
Business_and_Geographic_Segmen2
Business and Geographic Segment Information - Additional Information (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Segment | |||||||||||
Sales Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of operating business segment | ' | ' | ' | ' | ' | ' | ' | ' | 1 | ' | ' |
Sales from customer in domestic country | $161,795 | $104,100 | $108,007 | $96,548 | $137,485 | $86,096 | $85,801 | $79,155 | $470,450 | $388,537 | $320,619 |
Long-lived assets held in the domestic country | 21,500 | ' | ' | ' | 17,048 | ' | ' | ' | 21,500 | 17,048 | ' |
U.S. [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Sales Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Sales from customer in domestic country | ' | ' | ' | ' | ' | ' | ' | ' | 139,700 | 108,300 | 87,200 |
Long-lived assets held in the domestic country | 10,600 | ' | ' | ' | 7,000 | ' | ' | ' | 10,600 | 7,000 | ' |
United Kingdom [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Sales Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Sales from customer in domestic country | ' | ' | ' | ' | ' | ' | ' | ' | 42,300 | 39,100 | 31,100 |
Germany [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Sales Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Sales from customer in domestic country | ' | ' | ' | ' | ' | ' | ' | ' | 36,200 | 33,800 | 30,300 |
Sweden [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Sales Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Sales from customer in domestic country | ' | ' | ' | ' | ' | ' | ' | ' | 38,000 | 32,100 | 34,100 |
Long-lived assets held in the domestic country | $5,200 | ' | ' | ' | $5,100 | ' | ' | ' | $5,200 | $5,100 | ' |
Business_and_Geographic_Segmen3
Business and Geographic Segment Information - Net Revenues Based on Geographic Area (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total revenue | $161,795 | $104,100 | $108,007 | $96,548 | $137,485 | $86,096 | $85,801 | $79,155 | $470,450 | $388,537 | $320,619 |
The Americas [Member] | Reportable Geographical Components [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total revenue | ' | ' | ' | ' | ' | ' | ' | ' | 174,510 | 135,008 | 105,372 |
Europe [Member] | Reportable Geographical Components [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total revenue | ' | ' | ' | ' | ' | ' | ' | ' | 249,109 | 216,564 | 187,900 |
Rest of World [Member] | Reportable Geographical Components [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total revenue | ' | ' | ' | ' | ' | ' | ' | ' | $46,831 | $36,965 | $27,347 |
Business_and_Geographic_Segmen4
Business and Geographic Segment Information - Property and Equipment Based on Physical Location within that Geographic Area (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' |
Consolidated total | $21,500 | $17,048 |
The Americas [Member] | Reportable Geographical Components [Member] | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' |
Consolidated total | 11,117 | 7,730 |
Europe [Member] | Reportable Geographical Components [Member] | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' |
Consolidated total | 9,190 | 8,655 |
Rest of World [Member] | Reportable Geographical Components [Member] | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' |
Consolidated total | $1,193 | $663 |
ShareBased_Compensation_Additi
Share-Based Compensation - Additional Information (Detail) (USD $) | 12 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | |||||||||||||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Jul. 16, 2010 | Feb. 28, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
2004 Omnibus Stock Option and Award Plan [Member] | 2007 Omnibus Stock Option and Award Plan [Member] | 2010 Equity Incentive Plan [Member] | 2010 Equity Incentive Plan [Member] | 2010 Equity Incentive Plan [Member] | Common Stock Options [Member] | Common Stock Options [Member] | Common Stock Options [Member] | Restricted Stock Units [Member] | Restricted Stock Units [Member] | Restricted Stock Units [Member] | MVSSSARs [Member] | MVSSSARs [Member] | MVSSSARs [Member] | ||||
Scenario, Forecast [Member] | |||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock options to purchase | ' | ' | ' | 11,124,400 | 18,124,400 | 2,830,773 | 3,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Potential company authorized automatic increase | ' | ' | ' | ' | ' | 3,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock outstanding | ' | ' | ' | ' | ' | 3.75% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Company authorized automatic increase | ' | ' | ' | ' | ' | ' | ' | 3,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Maximum term for options granted | '10 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Options granted for first year, vest | 25.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Options granted for each quarter over the remaining three years, vest | 6.25% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Grant date weighted-average fair value | ' | ' | ' | ' | ' | ' | ' | ' | $12.64 | $9.83 | $12.49 | ' | ' | ' | ' | ' | ' |
Fair value of common stock options, vested | ' | ' | ' | ' | ' | ' | ' | ' | $22,500,000 | $14,300,000 | $5,800,000 | ' | ' | ' | ' | ' | ' |
Proceeds from the exercise of common stock options | 23,132,000 | 5,453,000 | 9,481,000 | ' | ' | ' | ' | ' | 23,100,000 | 5,500,000 | 9,500,000 | ' | ' | ' | ' | ' | ' |
Total intrinsic value of common stock options exercised | ' | ' | ' | ' | ' | ' | ' | ' | 51,900,000 | 43,000,000 | 145,900,000 | ' | ' | ' | ' | ' | ' |
Aggregate intrinsic value of fully vested common stock options outstanding | ' | ' | ' | ' | ' | ' | ' | ' | 50,700,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Aggregate intrinsic value of common stock options expected to vest | ' | ' | ' | ' | ' | ' | ' | ' | 67,800,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Recognition of excess tax benefit from stock-based compensation | 4,047,000 | 4,789,000 | 2,443,000 | ' | ' | ' | ' | ' | 4,000,000 | 4,800,000 | 2,400,000 | ' | ' | ' | ' | ' | ' |
Stock-based compensation expenses | ' | ' | ' | ' | ' | ' | ' | ' | 23,900,000 | 16,100,000 | 9,000,000 | 3,100,000 | 2,100,000 | 800,000 | 1,900,000 | 1,100,000 | 400,000 |
Total charges after modification of common stock option awards of former employees | 900,000 | 1,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total unrecognized compensation cost, net of estimated forfeitures, non-vested | ' | ' | ' | ' | ' | ' | ' | ' | $52,100,000 | ' | ' | $7,200,000 | ' | ' | $4,200,000 | ' | ' |
Weighted-average period | ' | ' | ' | ' | ' | ' | ' | ' | '2 years 8 months 12 days | ' | ' | '2 years 7 months 6 days | ' | ' | '2 years 7 months 6 days | ' | ' |
Issue upon settlement common stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 36,684 | ' | ' |
Settlement of MVSSSARs with common stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 141,627 | ' | ' |
Settlement of common stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 356,867 | ' | ' |
ShareBased_Compensation_Summar
Share-Based Compensation - Summary of Common Stock Option Activity (Detail) (USD $) | 12 Months Ended | |||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' | ' | ' | ' |
Number of Shares Outstanding, Beginning Balance | 10,416,358 | 8,859,651 | 12,053,445 | ' |
Number of Shares, Granted | 2,676,274 | 4,188,950 | 2,811,629 | ' |
Number of Shares, Exercised | -2,572,273 | -1,833,377 | -5,604,613 | ' |
Number of Shares, Forfeited | -723,543 | -798,866 | -400,810 | ' |
Number of Shares Outstanding, Ending Balance | 9,796,816 | 10,416,358 | 8,859,651 | 12,053,445 |
Weighted-Average Exercise Price, Beginning of Period | $15.89 | $10.84 | $2.95 | ' |
Number of Shares, Exercisable at December 31, 2013 | 4,091,832 | ' | ' | ' |
Weighted-Average Exercise Price, Granted | $27.85 | $21.40 | $26.58 | ' |
Number of Shares, Vested and expected to vest at December 31, 2013 | 9,242,406 | ' | ' | ' |
Weighted-Average Exercise Price, Exercised | $8.99 | $2.97 | $1.71 | ' |
Weighted-Average Exercise Price, Forfeited | $22.98 | $18.27 | $11.41 | ' |
Weighted-Average Exercise Price, End of Period | $20.44 | $15.89 | $10.84 | $2.95 |
Weighted-Average Exercise Price, Exercisable at December 31, 2013 | $14.68 | ' | ' | ' |
Weighted-Average Exercise Price, Vested and expected to vest at December 31, 2013 | $20.19 | ' | ' | ' |
Weighted Average Remaining Contractual Term (Years), Ending of period | '7 years 9 months 15 days | '7 years 9 months 26 days | '7 years 4 months 17 days | '6 years 8 months 16 days |
Weighted-Average Remaining Contractual Term (Years), Exercisable at December 31, 2013 | '6 years 4 months 21 days | ' | ' | ' |
Weighted-Average Remaining Contractual Term (Years), Vested and expected to vest at December 31, 2013 | '7 years 8 months 23 days | ' | ' | ' |
ShareBased_Compensation_Assump
Share-Based Compensation - Assumptions Used in Black-Scholes Option Pricing Model (Detail) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Expected dividend yield | 0.00% | 0.00% | 0.00% |
Risk-free interest rate, minimum | 0.90% | 0.80% | 1.10% |
Risk-free interest rate, maximum | 1.70% | 1.20% | 2.70% |
Expected volatility, minimum | 46.60% | 46.70% | 45.30% |
Expected volatility, maximum | 47.70% | 47.50% | 47.00% |
Expected term (all other grants, in years) | ' | '6 years 3 months | '6 years 3 months |
Minimum [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Expected term (all other grants, in years) | '5 years 2 months 9 days | ' | ' |
Maximum [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Expected term (all other grants, in years) | '6 years 3 months | ' | ' |
ShareBased_Compensation_Summar1
Share-Based Compensation - Summary of Restricted Stock Unit Activity (Detail) (Restricted Stock Unit Activity [Member], USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Restricted Stock Unit Activity [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Number of Shares Unvested, Beginning Balance | 249,798 | 86,692 | 40,820 |
Number of Shares, Granted | 233,215 | 225,795 | 86,692 |
Number of Shares, Vested | -93,842 | -55,092 | -40,820 |
Number of Shares, Forfeited | -16,719 | -7,597 | ' |
Number of Shares Unvested, Ending Balance | 372,452 | 249,798 | 86,692 |
Weighted-Average Grant Date Fair Value, Beginning Balance | $23.25 | $30.02 | $11.02 |
Weighted-Average Grant Date Fair Value, Granted | $29.80 | $22.36 | $30.02 |
Weighted-Average Grant Date Fair Value, Vested | $24.14 | $29.63 | $11.02 |
Weighted-Average Grant Date Fair Value, Forfeited | $23.40 | $27.97 | ' |
Weighted-Average Grant Date Fair Value, Ending Balance | $27.12 | $23.25 | $30.02 |
ShareBased_Compensation_Summar2
Share-Based Compensation - Summary of Maximum Value Stock-Settled Stock Appreciation Rights Activity (Detail) (MVSSSARs [Member], USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
MVSSSARs [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Number of Shares , Beginning Balance | 783,550 | 387,786 | ' |
Number of Shares, Granted | 375,060 | 454,225 | 393,978 |
Number of Shares, Exercised | -141,627 | ' | ' |
Number of Shares, Forfeited | -42,314 | -58,461 | -6,192 |
Number of Shares , Ending Balance | 974,669 | 783,550 | 387,786 |
Weighted-Average Grant Date Fair Value, Beginning Balance | $25.01 | $30.25 | ' |
Weighted-Average Grant Date Fair Value, Granted | $27.09 | $21.04 | $30.33 |
Weighted-Average Grant Date Fair Value, Exercised | $24.75 | ' | ' |
Weighted-Average Grant Date Fair Value, Forfeited | $25.72 | $28.97 | $35.43 |
Weighted-Average Grant Date Fair Value, Ending Balance | $25.81 | $25.01 | $30.25 |
Shares_Reserved_for_Future_Iss2
Shares Reserved for Future Issuance - Schedule of Shares Reserved for Future Issuance (Detail) | Dec. 31, 2013 |
Equity [Abstract] | ' |
Granted and outstanding stock options, restricted stock units and MVSSSARs | 10,526,135 |
Future issuance of stock options | 2,830,773 |
Future issuance of preferred stock | 10,000,000 |
Shares_Reserved_for_Future_Iss3
Shares Reserved for Future Issuance - Additional Information (Detail) (2010 Plan [Member], Scenario, Forecast [Member]) | 1 Months Ended |
Feb. 28, 2014 | |
2010 Plan [Member] | Scenario, Forecast [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Company authorized automatic increase | 3,300,000 |
Benefits_Plans_Additional_Info
Benefits Plans - Additional Information (Detail) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Compensation And Retirement Disclosure [Abstract] | ' | ' | ' |
Employers contribution in percentage | 3.00% | ' | ' |
Non-elective contributions graded vesting schedule | 'The first 50% vests on the second anniversary of the employees hire date and the second 50% vest on the third anniversary of the employees hire date | ' | ' |
Graded vesting schedule percentage for second and third anniversary | 50.00% | ' | ' |
Benefit plans expense | $6.90 | $5.10 | $3.60 |
Comparison_of_Summarized_Unaud2
Comparison of Summarized Unaudited Quarterly Results - Operating Quarterly Results (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Consolidated statement of operations data: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenue | $161,795 | $104,100 | $108,007 | $96,548 | $137,485 | $86,096 | $85,801 | $79,155 | $470,450 | $388,537 | $320,619 |
Cost of revenue | 17,931 | 14,942 | 14,594 | 14,356 | 13,764 | 10,247 | 9,817 | 9,461 | 61,823 | 43,289 | 34,347 |
Gross profit | 143,864 | 89,158 | 93,413 | 82,192 | 123,721 | 75,849 | 75,984 | 69,694 | 408,627 | 345,248 | 286,272 |
Total operating expenses | 111,190 | 92,557 | 102,505 | 98,953 | 97,189 | 77,619 | 78,338 | 77,472 | 405,205 | 330,618 | 266,613 |
Income (loss) from operations | 32,674 | -3,399 | -9,092 | -16,761 | 26,532 | -1,770 | -2,354 | -7,778 | 3,422 | 14,630 | 19,659 |
Other income (expense), net | -666 | 64 | -469 | -1,451 | 64 | -1,676 | 115 | -1,394 | -2,522 | -2,891 | -795 |
Income (loss) before income taxes | 32,008 | -3,335 | -9,561 | -18,212 | 26,596 | -3,446 | -2,239 | -9,172 | 900 | 11,739 | 18,864 |
Benefit (provision) for income taxes | -23,727 | 6,330 | 1,512 | 5,006 | -13,331 | 3,597 | 198 | 1,636 | -10,879 | -7,900 | -9,820 |
Net income (loss) | $8,281 | $2,995 | ($8,049) | ($13,206) | $13,265 | $151 | ($2,041) | ($7,536) | ($9,979) | $3,839 | $9,044 |
Net income (loss) per common share: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Basic | $0.09 | $0.03 | ($0.09) | ($0.15) | $0.15 | $0 | ($0.02) | ($0.09) | ($0.11) | $0.04 | $0.11 |
Diluted | $0.09 | $0.03 | ($0.09) | ($0.15) | $0.15 | $0 | ($0.02) | ($0.09) | ($0.11) | $0.04 | $0.11 |