Document_and_Entity_Informatio
Document and Entity Information | 6 Months Ended | |
Jun. 30, 2014 | Jul. 30, 2014 | |
Document And Entity Information [Abstract] | ' | ' |
Document Type | '10-Q | ' |
Amendment Flag | 'false | ' |
Document Period End Date | 30-Jun-14 | ' |
Document Fiscal Year Focus | '2014 | ' |
Document Fiscal Period Focus | 'Q2 | ' |
Entity Registrant Name | 'BRIGHTCOVE INC | ' |
Entity Central Index Key | '0001313275 | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Filer Category | 'Accelerated Filer | ' |
Entity Common Stock, Shares Outstanding | ' | 32,225,496 |
Condensed_Consolidated_Balance
Condensed Consolidated Balance Sheets (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Current assets: | ' | ' |
Cash and cash equivalents | $20,785 | $33,047 |
Short-term investments | ' | 3,061 |
Restricted cash | 8 | 121 |
Accounts receivable, net of allowance of $446 and $461, respectively | 19,838 | 21,560 |
Prepaid expenses and other current assets | 5,818 | 4,011 |
Deferred tax asset | 129 | 125 |
Total current assets | 46,578 | 61,925 |
Property and equipment, net | 11,118 | 8,795 |
Intangible assets, net | 18,514 | 8,668 |
Goodwill | 51,099 | 22,018 |
Restricted cash, net of current portion | 201 | 201 |
Other assets | 482 | 1,519 |
Total assets | 127,992 | 103,126 |
Current liabilities: | ' | ' |
Accounts payable | 899 | 3,067 |
Accrued expenses | 9,735 | 14,528 |
Capital lease liability | 1,351 | ' |
Deferred revenue | 27,243 | 23,571 |
Total current liabilities | 39,228 | 41,166 |
Deferred revenue, net of current portion | 123 | 247 |
Other liabilities | 2,811 | 1,333 |
Total liabilities | 42,162 | 42,746 |
Commitments and Contingencies (Note 11) | ' | ' |
Stockholders' equity: | ' | ' |
Undesignated preferred stock, $0.001 par value; 5,000,000 shares authorized; 0 shares issued | ' | ' |
Common stock, $0.001 par value; 100,000,000 shares authorized; 32,212,420 and 29,034,919 shares issued and outstanding, respectively | 32 | 29 |
Additional paid-in capital | 211,342 | 176,928 |
Accumulated other comprehensive loss | -256 | -453 |
Accumulated deficit | -125,288 | -116,124 |
Total stockholders' equity | 85,830 | 60,380 |
Total liabilities and stockholders' equity | $127,992 | $103,126 |
Condensed_Consolidated_Balance1
Condensed Consolidated Balance Sheets (Parenthetical) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, except Share data, unless otherwise specified | ||
Condensed Consolidated Balance Sheets [Abstract] | ' | ' |
Allowance for accounts receivable | $446 | $461 |
Preferred stock, par value | $0.00 | $0.00 |
Preferred stock, shares authorized | 5,000,000 | 5,000,000 |
Preferred stock, shares issued | ' | ' |
Preferred stock, shares outstanding | ' | ' |
Common stock, par value | $0.00 | $0.00 |
Common stock, shares authorized | 100,000,000 | 100,000,000 |
Common stock, shares issued | 32,212,420 | 29,034,919 |
Common stock, shares outstanding | 32,212,420 | 29,034,919 |
Condensed_Consolidated_Stateme
Condensed Consolidated Statements of Operations (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Revenue: | ' | ' | ' | ' |
Subscription and support revenue | $29,929 | $25,575 | $59,304 | $49,352 |
Professional services and other revenue | 1,074 | 1,326 | 2,804 | 2,270 |
Total revenue | 31,003 | 26,901 | 62,108 | 51,622 |
Cost of revenue: | ' | ' | ' | ' |
Cost of subscription and support revenue | 9,109 | 7,647 | 18,629 | 14,394 |
Cost of professional services and other revenue | 1,315 | 1,525 | 3,062 | 3,192 |
Total cost of revenue | 10,424 | 9,172 | 21,691 | 17,586 |
Gross profit | 20,579 | 17,729 | 40,417 | 34,036 |
Operating expenses: | ' | ' | ' | ' |
Research and development | 6,792 | 4,982 | 13,361 | 10,043 |
Sales and marketing | 12,095 | 10,749 | 23,441 | 20,696 |
General and administrative | 5,148 | 4,754 | 9,862 | 9,380 |
Merger-related | 521 | 546 | 2,388 | 1,091 |
Total operating expenses | 24,556 | 21,031 | 49,052 | 41,210 |
Loss from operations | -3,977 | -3,302 | -8,635 | -7,174 |
Other income (expense): | ' | ' | ' | ' |
Other expense, net | -294 | -164 | -406 | -463 |
Loss before income taxes and non-controlling interest in consolidated subsidiary | -4,271 | -3,466 | -9,041 | -7,637 |
Provision for income taxes | 56 | 56 | 123 | 94 |
Consolidated net loss | -4,327 | -3,522 | -9,164 | -7,731 |
Net income attributable to non-controlling interest in consolidated subsidiary | ' | ' | ' | -20 |
Net loss attributable to Brightcove Inc. | -4,327 | -3,522 | -9,164 | -7,751 |
Net loss per share - basic and diluted | ($0.13) | ($0.12) | ($0.29) | ($0.28) |
Weighted-average number of common shares used in computing net loss per share | 32,145,231 | 28,180,837 | 31,594,541 | 28,102,707 |
Cost of Subscription and Support Revenue [Member] | ' | ' | ' | ' |
Stock-based compensation included in above line items: | ' | ' | ' | ' |
Stock-based compensation | 50 | 57 | 110 | 125 |
Amortization of acquired intangible assets included in above line items: | ' | ' | ' | ' |
Amortization of acquired intangible assets | 507 | 253 | 930 | 506 |
Cost of Professional Services and Other Revenue [Member] | ' | ' | ' | ' |
Stock-based compensation included in above line items: | ' | ' | ' | ' |
Stock-based compensation | 16 | 13 | 68 | 64 |
Research and Development [Member] | ' | ' | ' | ' |
Stock-based compensation included in above line items: | ' | ' | ' | ' |
Stock-based compensation | 178 | 228 | 574 | 548 |
Amortization of acquired intangible assets included in above line items: | ' | ' | ' | ' |
Amortization of acquired intangible assets | 41 | 10 | 72 | 20 |
Sales and marketing [Member] | ' | ' | ' | ' |
Stock-based compensation included in above line items: | ' | ' | ' | ' |
Stock-based compensation | 512 | 509 | 1,145 | 1,084 |
Amortization of acquired intangible assets included in above line items: | ' | ' | ' | ' |
Amortization of acquired intangible assets | 316 | 167 | 581 | 334 |
General and Administrative [Member] | ' | ' | ' | ' |
Stock-based compensation included in above line items: | ' | ' | ' | ' |
Stock-based compensation | $741 | $645 | $1,350 | $1,330 |
Condensed_Consolidated_Stateme1
Condensed Consolidated Statements of Comprehensive Loss (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Condensed Consolidated Statements of Comprehensive Loss [Abstract] | ' | ' | ' | ' |
Consolidated net loss | ($4,327) | ($3,522) | ($9,164) | ($7,731) |
Other comprehensive income (loss): | ' | ' | ' | ' |
Foreign currency translation adjustments | 82 | -257 | 197 | -813 |
Comprehensive loss | -4,245 | -3,779 | -8,967 | -8,544 |
Net income attributable to non-controlling interest in consolidated subsidiary | ' | ' | ' | -20 |
Comprehensive loss attributable to Brightcove Inc. | ($4,245) | ($3,779) | ($8,967) | ($8,564) |
Condensed_Consolidated_Stateme2
Condensed Consolidated Statements of Cash Flows (USD $) | 6 Months Ended | |
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 |
Operating activities | ' | ' |
Net loss | ($9,164) | ($7,731) |
Adjustments to reconcile net loss to net cash used in operating activities: | ' | ' |
Depreciation and amortization | 3,958 | 3,069 |
Stock-based compensation | 3,247 | 3,151 |
Provision for reserves on accounts receivable | 41 | 321 |
Amortization of premium on investments | 1 | 55 |
Loss on disposal of equipment | 91 | ' |
Changes in assets and liabilities, net of effect of acquisition: | ' | ' |
Accounts receivable | 2,261 | -411 |
Prepaid expenses and other current assets | -1,755 | -1,484 |
Other assets | 1,188 | -29 |
Accounts payable | -3,177 | 294 |
Accrued expenses | -4,416 | -750 |
Deferred revenue | 3,515 | 3,509 |
Net cash used in operating activities | -4,210 | -6 |
Investing activities | ' | ' |
Cash paid for acquisition, net of cash acquired | -9,100 | ' |
Maturity of investments | 3,060 | 6,320 |
Purchases of property and equipment | -1,487 | -928 |
Capitalized internal-use software costs | -875 | ' |
Decrease in restricted cash | 113 | 60 |
Net cash (used in) provided by investing activities | -8,289 | 5,452 |
Financing activities | ' | ' |
Proceeds from exercise of stock options | 555 | 220 |
Purchase of non-controlling interest in consolidated subsidiary | ' | -1,084 |
Payments under capital lease obligation | -524 | ' |
Net cash provided by (used in) financing activities | 31 | -864 |
Effect of exchange rate changes on cash | 206 | -795 |
Net decrease in cash and cash equivalents | -12,262 | 3,787 |
Cash and cash equivalents at beginning of period | 33,047 | 21,708 |
Cash and cash equivalents at end of period | 20,785 | 25,495 |
Supplemental disclosure of non-cash investing activities | ' | ' |
Fair value of shares issued for acquisition of a business | 30,615 | ' |
Supplemental disclosure of non-cash financing activities | ' | ' |
Vesting of restricted stock | ' | 8 |
Supplemental disclosure of cash flow related to asset purchase agreement In connection with the asset purchase agreement with Unicorn Media, Inc. on January 31, 2014, the following transactions occurred: : | ' | ' |
Fair value of assets acquired | 44,345 | ' |
Liabilities assumed related to acquisition | -4,617 | ' |
Total purchase price | 39,728 | ' |
Less fair value of common stock issued in connection with acquisition | -30,615 | ' |
Less cash and cash equivalents acquired | -13 | ' |
Cash paid for acquisition, net of cash acquired | $9,100 | ' |
Business_Description_and_Basis
Business Description and Basis of Presentation | 6 Months Ended |
Jun. 30, 2014 | |
Business Description and Basis of Presentation [Abstract] | ' |
Business Description and Basis of Presentation | ' |
1. Business Description and Basis of Presentation | |
Business Description | |
Brightcove Inc. (the Company) is a leading global provider of cloud services for video which enable its customers to publish and distribute video to Internet-connected devices quickly, easily and in a cost-effective and high-quality manner. | |
The Company is headquartered in Boston, Massachusetts and was incorporated in the state of Delaware on August 24, 2004. At June 30, 2014, the Company had nine wholly-owned subsidiaries: Brightcove UK Ltd, Brightcove Singapore Pte. Ltd., Brightcove Korea, Brightcove Australia Pty Ltd, Brightcove Holdings, Inc., Brightcove Kabushiki Kaisha (Brightcove KK), Zencoder Inc. (Zencoder), Brightcove FZ-LLC and Cacti Acquisition LLC. | |
On January 31, 2014, the Company acquired substantially all of the assets of Unicorn Media, Inc. and certain of its subsidiaries pursuant to an Asset Purchase Agreement and Plan of Reorganization (the Purchase Agreement). Unicorn Media, Inc. is a privately-held company located in Tempe, Arizona and a provider of cloud video ad insertion technology. See Note 2 for further discussion. | |
Basis of Presentation | |
The accompanying interim condensed consolidated financial statements are unaudited. These condensed consolidated financial statements and notes should be read in conjunction with the audited consolidated financial statements and related notes, together with Management's Discussion and Analysis of Financial Condition and Results of Operations, contained in the Company's Annual Report on Form 10-K for the year ended December 31, 2013. | |
The accompanying unaudited condensed consolidated financial statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission. Accordingly, certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles in the United States have been condensed or omitted pursuant to such rules and regulations. In the opinion of management, the unaudited condensed consolidated financial statements and notes have been prepared on the same basis as the audited consolidated financial statements for the year ended December 31, 2013 contained in the Company's Annual Report on Form 10-K and include all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of the Company's financial position for the three and six months ended June 30, 2014 and 2013. These interim periods are not necessarily indicative of the results to be expected for any other interim period or the full year. | |
The Company considers events or transactions that occur after the balance sheet date but prior to the issuance of the financial statements to provide additional evidence for certain estimates or to identify matters that require additional disclosure. Subsequent events have been evaluated as required. The Company has evaluated all subsequent events and determined that there are no material recognized or unrecognized subsequent events requiring disclosure, other than those disclosed in this Report on Form 10-Q. | |
The accompanying condensed consolidated financial statements reflect the application of certain significant accounting policies as described below and elsewhere in these notes to the condensed consolidated financial statements. As of June 30, 2014, the Company's significant accounting policies and estimates, which are detailed in the Company's Annual Report on Form 10-K for the year ended December 31, 2013, have not changed. |
Business_Combination
Business Combination | 6 Months Ended | ||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||
Business Combinations [Abstract] | ' | ||||||||||||||||
Business Combination | ' | ||||||||||||||||
2. Business Combination | |||||||||||||||||
On January 31, 2014, pursuant to the Purchase Agreement, dated as of January 6, 2014, by and among the Company, Cacti Acquisition LLC, a Delaware limited liability company and wholly-owned subsidiary of the Company, Unicorn Media, Inc. (“Unicorn Media”), Unicorn Media of Arizona, Inc., an Arizona corporation (“Unicorn Arizona Sub”), U Media Limited, a private limited company registered in England and Wales (“Unicorn UK Sub” and, together with Unicorn Media and Unicorn Arizona Sub, “Unicorn”), and the Securityholders' Representative named therein, the Company completed its acquisition of substantially all of Unicorn's assets in exchange for common stock of the Company and the assumption by the Company of certain liabilities of Unicorn (the “Acquisition”). The Company issued 2,850,547 unregistered shares of common stock of the Company and paid approximately $9,100 in cash to cover transaction-related expenses of Unicorn, bonus expenses payable by Unicorn, the assumption of Unicorn's liability to cash out all vested non-qualified stock options and compensatory warrants to purchase the common stock of Unicorn outstanding immediately prior to the closing (including all Unicorn withholding obligations in connection therewith) and certain other liabilities of Unicorn. Based on a $10.74 price per share of the Company's common stock at the date of closing, the transaction is valued at approximately $39,728. Pursuant to the Purchase Agreement, 1,285,715 shares were placed into an escrow account to settle certain claims for indemnification for breaches or inaccuracies in Unicorn's representations and warranties, covenants and agreements. The Company acquired Unicorn to enhance and extend the Company's existing offerings with Unicorn's cloud video ad insertion technology. The Company believes that the unification of Unicorn's cloud video ad insertion technology with the Company's existing offerings will enable new and improved scalable services. | |||||||||||||||||
The acquisition was accounted for using the purchase method of accounting in accordance with Accounting Standards Codification 805 — Business Combinations. Accordingly, the results of operations of Unicorn have been included in the accompanying condensed consolidated financial statements since the date of acquisition. The purchase price has been allocated to the tangible and intangible assets acquired and liabilities assumed based upon the respective estimates of fair value as of the date of the acquisition, which remain preliminary as of June 30, 2014, and using assumptions that the Company's management believes are reasonable given the information currently available. The Company is in the process of completing its valuation of certain intangible assets and the valuation of the acquired deferred tax assets and liabilities. The final allocations of the purchase price to intangible assets, goodwill and deferred tax assets and liabilities may differ materially from the information presented in these unaudited condensed consolidated financial statements. | |||||||||||||||||
The process for estimating the fair values of identifiable intangible assets and certain tangible assets requires the use of significant estimates and assumptions, including estimating future cash flows and developing appropriate discount rates. Definitive allocations are being performed and finalized based on certain valuations and other studies performed by the Company with the services of outside valuation specialists. | |||||||||||||||||
During the three and six months ended June 30, 2014, the Company incurred merger-related costs related to this acquisition of $456 and $2,207, respectively. Included in merger-related expenses are costs incurred in connection with closing the acquisition in addition to costs associated with the retention of key employees. In addition to the $39,728 purchase price, per the Purchase Agreement, approximately $1,750 is to be paid to retain certain key employees over periods ranging from one to two years as services are performed. Given that the retention amount is related to a future service requirement, the related expense is being recorded as compensation expense in the condensed consolidated statements of operations over the expected service period, and was $344 and $571, respectively, during the three and six months ended June 30, 2014. The excess of the purchase price over the estimated amounts of net assets as of the effective date of the acquisition was allocated to goodwill in accordance with the accounting guidance. The factors contributing to the recognition of the amount of goodwill are based on several strategic and synergistic benefits that are expected to be realized from the Unicorn acquisition. These benefits include the expectation that the combined company's complementary products will significantly broaden the Company's offerings in cloud video ad insertion. The combined company will benefit from a broader global presence, and with the Company's direct sales force and larger channel coverage, the combined company anticipates significant cross-selling opportunities. None of the goodwill is expected to be currently deductible for tax purposes. | |||||||||||||||||
The total purchase price for Unicorn has been preliminarily allocated as follows: | |||||||||||||||||
Cash and cash equivalents | $ | 13 | |||||||||||||||
Other tangible assets | 3,822 | ||||||||||||||||
Identifiable intangible assets | 11,429 | ||||||||||||||||
Goodwill | 29,081 | ||||||||||||||||
Liabilities assumed | -4,617 | ||||||||||||||||
Total estimated purchase price | $ | 39,728 | |||||||||||||||
The following are the identifiable intangible assets acquired and their respective useful lives, as determined based on preliminary valuations: | |||||||||||||||||
Amount | Useful Life | ||||||||||||||||
Developed technology | $ | 8,149 | 8 | ||||||||||||||
Customer relationships | 1,964 | 7 | |||||||||||||||
Non-compete agreements | 1,316 | 3 | |||||||||||||||
Total | $ | 11,429 | |||||||||||||||
The preliminary fair value of the intangible assets has been estimated using the income approach in which the after-tax cash flows are discounted to present value. The cash flows are based on estimates used to price the transaction, and the discount rates applied were benchmarked with reference to the implied rate of return from the transaction model as well as the weighted average cost of capital. | |||||||||||||||||
The estimated remaining amortization expense for the remainder of 2014 and for each of the five succeeding years and thereafter is as follows: | |||||||||||||||||
Year ended December 31, | Amount | ||||||||||||||||
2014 | $ | 869 | |||||||||||||||
2015 | 1,738 | ||||||||||||||||
2016 | 1,738 | ||||||||||||||||
2017 | 1,336 | ||||||||||||||||
2018 | 1,299 | ||||||||||||||||
2019 and thereafter | 3,725 | ||||||||||||||||
Total | $ | 10,705 | |||||||||||||||
Pro Forma Financial Information | |||||||||||||||||
The unaudited financial information in the table below summarizes the combined results of operations of the Company and Unicorn, on a pro forma basis, as though the Company had acquired Unicorn on January 1, 2013. The pro forma information for all periods presented also includes the effects of business combination accounting resulting from the acquisition, including amortization charges from acquired intangibles assets and the compensation expense recorded to retain certain key employees. | |||||||||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
Total revenue | $ | 31,003 | $ | 28,490 | $ | 62,649 | $ | 54,373 | |||||||||
Net loss | $ | (3,999 | ) | $ | (5,469 | ) | $ | (8,085 | ) | $ | (12,972 | ) | |||||
Earnings per share – basic and diluted | $ | (0.12 | ) | $ | (0.18 | ) | $ | (0.25 | ) | $ | (0.42 | ) | |||||
Noncontrolling_Interest
Non-controlling Interest | 6 Months Ended |
Jun. 30, 2014 | |
Non-controlling Interest [Abstract] | ' |
Non-controlling Interest | ' |
3. Non-controlling Interest | |
On January 8, 2013, the Company acquired the remaining 37% interest of its majority-owned subsidiary, Brightcove KK, a Japanese joint venture which was formed on July 18, 2008. Given that the Company now owns 100% of Brightcove KK, the Company will continue to consolidate Brightcove KK for financial reporting purposes, however, commencing on January 8, 2013, the Company no longer records a non-controlling interest in the condensed consolidated statements of operations. |
Concentration_of_Credit_Risk
Concentration of Credit Risk | 6 Months Ended |
Jun. 30, 2014 | |
Concentration of Credit Risk [Abstract] | ' |
Concentration of Credit Risk | ' |
4. Concentration of Credit Risk | |
The Company has no significant off-balance sheet risk, such as foreign exchange contracts, option contracts or other foreign hedging arrangements. Financial instruments that potentially expose the Company to concentrations of credit risk consist primarily of cash, cash equivalents, and trade accounts receivable. The Company maintains its cash and cash equivalents principally with accredited financial institutions of high credit standing. Although the Company deposits its cash with multiple financial institutions, its deposits, at times, may exceed federally insured limits. The Company routinely assesses the creditworthiness of its customers. The Company generally has not experienced any material losses related to receivables from individual customers, or groups of customers. The Company does not require collateral. Due to these factors, no additional credit risk beyond amounts provided for collection losses is believed by management to be probable in the Company's accounts receivable. | |
At June 30, 2014 and December 31, 2013, no individual customer accounted for 10% or more of net accounts receivable. For the three and six months ended June 30, 2014 and 2013, no individual customer accounted for 10% or more of total revenue. |
Concentration_of_Other_Risks
Concentration of Other Risks | 6 Months Ended |
Jun. 30, 2014 | |
Concentration of Other Risks [Abstract] | ' |
Concentration of Other Risks | ' |
5. Concentration of Other Risks | |
The Company is dependent on certain content delivery network providers who provide digital media delivery functionality enabling the Company's on-demand application service to function as intended for the Company's customers and ultimate end-users. The disruption of these services could have a material adverse effect on the Company's business, financial position, and results of operations. |
Cash_Cash_Equivalents_and_Inve
Cash, Cash Equivalents and Investments | 6 Months Ended | ||||||||||||||
Jun. 30, 2014 | |||||||||||||||
Cash, Cash Equivalents and Investments [Abstract] | ' | ||||||||||||||
Cash, Cash Equivalents and Investments | ' | ||||||||||||||
6. Cash, Cash Equivalents and Investments | |||||||||||||||
The Company considers all highly liquid investments with an original maturity of three months or less at the date of purchase to be cash equivalents. Investments not classified as cash equivalents with maturities less than one year from the balance sheet date are classified as short-term investments, while investments with maturities in excess of one year from the balance sheet date are classified as long-term investments. Management determines the appropriate classification of investments at the time of purchase, and re-evaluates such determination at each balance sheet date. | |||||||||||||||
Cash and cash equivalents primarily consist of cash on deposit with banks and amounts held in interest-bearing money market accounts. Cash equivalents are carried at cost, which approximates their fair market value. Investments primarily consist of certificates of deposit and corporate debentures. At June 30, 2014 the Company did not have any investments. At December 31, 2013, the Company classified its investments as held-to-maturity as it was the Company's intention to hold such investments until they matured. As such, investments were recorded at amortized cost at December 31, 2013. | |||||||||||||||
Cash and cash equivalents as of June 30, 2014 consist of the following: | |||||||||||||||
30-Jun-14 | |||||||||||||||
Description | Contracted Maturity | Amortized Cost | Fair Market | Balance Per | |||||||||||
Value | Balance Sheet | ||||||||||||||
Cash | Demand | $ | 10,412 | $ | 10,412 | $ | 10,412 | ||||||||
Money market funds | Demand | 10,373 | 10,373 | 10,373 | |||||||||||
Total cash and cash equivalents | $ | 20,785 | $ | 20,785 | $ | 20,785 | |||||||||
Cash, cash equivalents and investments as of December 31, 2013 consist of the following: | |||||||||||||||
31-Dec-13 | |||||||||||||||
Description | Contracted Maturity | Amortized Cost | Fair Market | Balance Per | |||||||||||
Value | Balance Sheet | ||||||||||||||
Cash | Demand | $ | 19,250 | $ | 19,250 | $ | 19,250 | ||||||||
Money market funds | Demand | 13,797 | 13,797 | 13,797 | |||||||||||
Total cash and cash equivalents | $ | 33,047 | $ | 33,047 | $ | 33,047 | |||||||||
Certificates of deposit | 110 – 163 days | $ | 960 | $ | 961 | $ | 960 | ||||||||
Corporate debentures | 23 – 96 days | 2,101 | 2,102 | 2,101 | |||||||||||
Total short-term investments | $ | 3,061 | $ | 3,063 | $ | 3,061 | |||||||||
Net_Loss_per_Share
Net Loss per Share | 6 Months Ended | ||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||
Net Loss per Share [Abstract] | ' | ||||||||||||||||
Net Loss per Share | ' | ||||||||||||||||
7. Net Loss per Share | |||||||||||||||||
The following potentially dilutive common stock equivalent shares have been excluded from the computation of weighted-average shares outstanding as their effect would have been anti-dilutive (in thousands): | |||||||||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
Options outstanding | 3,477 | 3,350 | 3,511 | 3,336 | |||||||||||||
Restricted stock units outstanding | 1,001 | 1,378 | 1,153 | 1,441 | |||||||||||||
Warrants | 28 | 28 | 28 | 28 | |||||||||||||
Total | 4,506 | 4,756 | 4,692 | 4,805 |
Fair_Value_of_Financial_Instru
Fair Value of Financial Instruments | 6 Months Ended | ||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||
Fair Value of Financial Instruments [Abstract] | ' | ||||||||||||||||
Fair Value of Financial Instruments | ' | ||||||||||||||||
8. Fair Value of Financial Instruments | |||||||||||||||||
The following tables set forth the Company's financial instruments carried at fair value using the lowest level of input as of June 30, 2014 and December 31, 2013: | |||||||||||||||||
30-Jun-14 | |||||||||||||||||
Quoted Prices in Active Markets for Identical Items (Level 1) | Significant Other | Significant | Total | ||||||||||||||
Observable Inputs | Unobservable Inputs | ||||||||||||||||
(Level 2) | (Level 3) | ||||||||||||||||
Assets: | |||||||||||||||||
Money market funds | $ | 10,373 | $ | — | $ | — | $ | 10,373 | |||||||||
Restricted cash | — | 209 | — | 209 | |||||||||||||
Total assets | $ | 10,373 | $ | 209 | $ | — | $ | 10,582 | |||||||||
31-Dec-13 | |||||||||||||||||
Quoted Prices in Active Markets for Identical Items (Level 1) | Significant Other | Significant | Total | ||||||||||||||
Observable Inputs | Unobservable Inputs | ||||||||||||||||
(Level 2) | (Level 3) | ||||||||||||||||
Assets: | |||||||||||||||||
Money market funds | $ | 13,797 | $ | — | $ | — | $ | 13,797 | |||||||||
Restricted cash | — | 322 | — | 322 | |||||||||||||
Total assets | $ | 13,797 | $ | 322 | $ | — | $ | 14,119 |
Stockbased_Compensation
Stock-based Compensation | 6 Months Ended | ||||||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||||||
Stock-based Compensation [Abstract] | ' | ||||||||||||||||||||
Stock-based Compensation | ' | ||||||||||||||||||||
9. Stock-based Compensation | |||||||||||||||||||||
The fair value of stock options granted was estimated at the date of grant using the following weighted-average assumptions: | |||||||||||||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||||||
Expected life in years | 6.1 | 6.2 | 6.2 | 6.2 | |||||||||||||||||
Risk-free interest rate | 2.19 | % | 1.12 | % | 2.17 | % | 1.19 | % | |||||||||||||
Volatility | 52 | % | 55 | % | 53 | % | 55 | % | |||||||||||||
Dividend yield | — | — | — | — | |||||||||||||||||
Weighted-average fair value of stock options granted | $ | 4.14 | $ | 3.9 | $ | 5.25 | $ | 3.76 | |||||||||||||
The Company recorded stock-based compensation expense of $1,497 and $1,452 for the three months ended June 30, 2014 and 2013, respectively, and $3,247 and $3,151 for the six months ended June 30, 2014 and 2013, respectively. As of June 30, 2014, there was $11,801 of unrecognized stock-based compensation expense related to stock-based awards that is expected to be recognized over a weighted-average period of 3.13 years. The following is a summary of the status of the Company's stock options as of June 30, 2014 and the stock option activity during the six months ended June 30, 2014. | |||||||||||||||||||||
Number of | Exercise Price | Weighted | Weighted | Aggregate | |||||||||||||||||
Shares | Per Share | Average | Average | Intrinsic | |||||||||||||||||
Exercise | Remaining | Value (1) | |||||||||||||||||||
Price | Contractual | ||||||||||||||||||||
Per Share | Term (Years) | ||||||||||||||||||||
Outstanding at December 31, 2013 | 3,060,583 | $ | 0.31 – 16.88 | $ | 6.76 | ||||||||||||||||
Granted | 1,078,315 | 8.06 – 10.74 | 9.91 | ||||||||||||||||||
Exercised | (181,763 | ) | 0.31 – 11.00 | 3.06 | $ | 1,309 | |||||||||||||||
Canceled | (258,987 | ) | 6.48 – 16.88 | 9.85 | |||||||||||||||||
Outstanding at June 30, 2014 | 3,698,148 | $ | 0.31 – 16.88 | $ | 7.65 | 6.99 | $ | 12,120 | |||||||||||||
Exercisable at June 30, 2014 | 1,970,402 | $ | 0.31 – 16.88 | $ | 5.23 | 5.45 | $ | 11,029 | |||||||||||||
Vested or expected to vest at June 30, 2014 (2) | 3,240,111 | $ | 0.31 – 16.88 | $ | 7.26 | 6.73 | $ | 11,834 | |||||||||||||
-1 | The aggregate intrinsic value was calculated based on the positive difference between the fair value of the Company's common stock on June 30, 2014 of $10.54 per share, or the date of exercise, as appropriate, and the exercise price of the underlying options. | ||||||||||||||||||||
-2 | This represents the number of vested options as of June 30, 2014 plus the number of unvested options expected to vest as of June 30, 2014 based on the unvested options outstanding at June 30, 2014 adjusted for an estimated forfeiture rate. | ||||||||||||||||||||
The following table summarizes the restricted stock unit award activity during the six months ended June 30, 2014: | |||||||||||||||||||||
Shares | Weighted | ||||||||||||||||||||
Average Grant | |||||||||||||||||||||
Date Fair Value | |||||||||||||||||||||
Unvested by December 31, 2013 | 1,177,716 | $ | 10.26 | ||||||||||||||||||
Granted | 2,000 | 9.65 | |||||||||||||||||||
Vested and issued | (145,191 | ) | 9.38 | ||||||||||||||||||
Canceled | (141,449 | ) | 9.37 | ||||||||||||||||||
Unvested by June 30, 2014 | 893,076 | $ | 10.28 | ||||||||||||||||||
Income_Taxes
Income Taxes | 6 Months Ended |
Jun. 30, 2014 | |
Income Taxes [Abstract] | ' |
Income Taxes | ' |
10. Income Taxes | |
For both the three months ended June 30, 2014 and 2013, the Company recorded income tax expense of $56, and for the six months ended June 30, 2014 and 2013 the Company recorded income tax expense of $123 and $94, respectively. The income tax expense relates principally to the Company's foreign operations. | |
The Company has evaluated the positive and negative evidence bearing upon the realizability of its U.S. net deferred tax assets. As required by the provisions of ASC 740, Income Taxes, management has determined that it is more-likely-than-not that the Company will not utilize the benefits of federal and state U.S. net deferred tax assets for financial reporting purposes. Accordingly, the net deferred tax assets are subject to a valuation allowance at June 30, 2014 and December 31, 2013. The Company's income tax return reporting periods since December 31, 2010 are open to income tax audit examination by the federal and state tax authorities. In addition, because the Company has net operating loss carryforwards, the Internal Revenue Service is permitted to audit earlier years and propose adjustments up to the amount of net operating losses generated in those years. There are currently no federal, state or foreign audits in progress. |
Commitments_and_Contingencies
Commitments and Contingencies | 6 Months Ended | ||||
Jun. 30, 2014 | |||||
Commitments and Contingencies [Abstract] | ' | ||||
Commitments and Contingencies | ' | ||||
11. Commitments and Contingencies | |||||
Leases | |||||
In connection with the Purchase Agreement, the Company assumed various capital lease arrangements for computer equipment for a total obligation of $2,871 as of the closing of the transaction. The lease arrangements expire at various dates through May 2017. | |||||
Future minimum rental commitments under capital leases at June 30, 2014 are as follows: | |||||
Year Ending December 31 | Capital Lease Commitments | ||||
2014 | $ | 712 | |||
2015 | 1,357 | ||||
2016 | 349 | ||||
2017 | 17 | ||||
Less – interest on capital leases | 89 | ||||
$ | 2,346 | ||||
At June 30, 2014, total assets under capital leases were $3,292 and related accumulated amortization was $1,314. | |||||
The Company assumed non-cancelable operating lease agreements for office space in connection with the Purchase Agreement. As of June 30, 2014, these operating leases have non-cancelable commitments through December 2016 of $1,599. | |||||
Legal Matters | |||||
The Company, from time to time, is party to litigation arising in the ordinary course of its business. Management does not believe that the outcome of these claims will have a material adverse effect on the consolidated financial position, results of operations or cash flows of the Company based on the status of proceedings at this time. | |||||
On August 27, 2012, a complaint was filed by Blue Spike, LLC naming the Company in a patent infringement case (Blue Spike, LLC v. Audible Magic Corporation, et al., United States District Court for the Eastern District of Texas). The complaint alleges that the Company has infringed U.S. Patent No. 7,346,472 with a listed issue date of March 18, 2008, entitled “Method and Device for Monitoring and Analyzing Signals,” U.S. Patent No. 7,660,700 with a listed issue date of February 9, 2010, entitled “Method and Device for Monitoring and Analyzing Signals,” U.S. Patent No. 7,949,494 with a listed issue date of May 24, 2011, entitled “Method and Device for Monitoring and Analyzing Signals” and U.S. Patent No. 8,214,175 with a listed issue date of July 3, 2012, entitled “Method and Device for Monitoring and Analyzing Signals.” The complaint seeks an injunction enjoining infringement, damages and pre- and post-judgment costs and interest. The Company answered and filed counterclaims against Blue Spike on December 3, 2012. The Company amended its answer and counterclaims on July 15, 2013. This complaint is subject to indemnification by one of the Company's vendors. The Company cannot yet determine whether it is probable that a loss will be incurred in connection with this complaint, nor can the Company reasonably estimate the potential loss, if any. | |||||
On September 10, 2013, a complaint was filed by Cinsay Inc. naming the Company in a patent infringement case (Cinsay Inc. v. Brightcove Inc. and Joyus Inc., United States District Court for the Northern District of Texas). The complaint alleges that the Company has infringed U.S. Patent No. 8,312,486 with a listed issue date of November 13, 2012, entitled “Interactive Product Placement and Method Therefor” and U.S. Patent No. 8,533,753 with a listed issue date of September 10, 2013, entitled “Interactive Product Placement and Method Therefor.” On October 1, 2013, Cinsay filed an amended complaint against the Company in which it reasserted the allegations of infringement of U.S. Patent No. 8,312,486 and U.S. Patent No. 8,533,753 and added allegations that the Company infringed U.S. Patent No. 8,549,555 with a listed issue date of October 1, 2013, entitled “Interactive Product Placement and Method Therefor.” The amended complaint seeks an injunction enjoining infringement, damages and pre- and post-judgment costs and interest. The Company answered the amended complaint on November 12, 2013. The Company settled the matter on July 15, 2014 and, pursuant the settlement, all claims against the Company will be dismissed with prejudice. | |||||
Guarantees and Indemnification Obligations | |||||
The Company typically enters into indemnification agreements in the ordinary course of business. Pursuant to these agreements, the Company indemnifies and agrees to reimburse the indemnified party for losses and costs incurred by the indemnified party, generally the Company's customers, in connection with patent, copyright, trade secret, or other intellectual property or personal right infringement claims by third parties with respect to the Company's technology. The term of these indemnification agreements is generally perpetual after execution of the agreement. Based on when customers first subscribe for the Company's service, the maximum potential amount of future payments the Company could be required to make under certain of these indemnification agreements is unlimited, however, more recently the Company has typically limited the maximum potential value of such potential future payments in relation to the value of the contract. Based on historical experience and information known as of June 30, 2014, the Company has not incurred any costs for the above guarantees and indemnities. The Company has received requests for indemnification from customers in connection with patent infringement suits brought against its customers by a third party. To date, the Company has not agreed that the requested indemnification is required by the Company's contract with any such customer. | |||||
In certain circumstances, the Company warrants that its products and services will perform in all material respects in accordance with its standard published specification documentation in effect at the time of delivery of the licensed products and services to the customer for the warranty period of the product or service. To date, the Company has not incurred significant expense under its warranties and, as a result, the Company believes the estimated fair value of these agreements is immaterial. | |||||
Debt
Debt | 6 Months Ended |
Jun. 30, 2014 | |
Debt [Abstract] | ' |
Debt | ' |
12. Debt | |
On March 31, 2011, the Company entered into a loan and security agreement with a lender (the “Line of Credit”) providing for an asset based line of credit. Under the Line of Credit, the Company can borrow up to the lesser of (i) $8.0 million or (ii) 80% of the Company's eligible accounts receivable. Borrowing availability under the Line of Credit changes based upon the amount of eligible receivables, concentration of eligible receivables and other factors. The Company has the ability to obtain letters of credit. Borrowings under the Line of Credit are secured by substantially all of the Company's assets. Outstanding amounts under the Line of Credit accrue interest at a rate equal to the prime rate plus 1.5%. Advances under the Line of Credit were due on March 31, 2013, and interest and related finance charges are payable monthly. On April 29, 2013, the Company amended the Line of Credit to increase the aggregate amount of borrowings that may be outstanding under the Company's asset-based line of credit from $8.0 million to $10.0 million and to extend the maturity date to March 30, 2015. At June 30, 2014 and December 31, 2013, the Company had no amounts outstanding under the Line of Credit. |
Segment_Information
Segment Information | 6 Months Ended | ||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||
Segment Information [Abstract] | ' | ||||||||||||||||
Segment Information | ' | ||||||||||||||||
13. Segment Information | |||||||||||||||||
Geographic Data | |||||||||||||||||
Total revenue from unaffiliated customers by geographic area, based on the location of the customer, was as follows: | |||||||||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
Revenue: | |||||||||||||||||
North America | $ | 18,481 | $ | 15,794 | $ | 36,495 | $ | 31,208 | |||||||||
Europe | 7,730 | 6,498 | 16,357 | 11,888 | |||||||||||||
Japan | 2,012 | 1,518 | 3,933 | 2,971 | |||||||||||||
Asia Pacific | 2,543 | 2,920 | 4,876 | 5,202 | |||||||||||||
Other | 237 | 171 | 447 | 353 | |||||||||||||
Total revenue | $ | 31,003 | $ | 26,901 | $ | 62,108 | $ | 51,622 | |||||||||
North America is comprised of revenue from the United States, Canada and Mexico. During the three months ended June 30, 2014 and 2013, revenue from customers located in the United States was $17,318 and $14,655, respectively, and $33,736 and $28,947, respectively, during the six months ended June 30, 2014 and 2013. During the three and six months ended June 30, 2014 and 2013, no other country contributed more than 10% of the Company's total revenue. | |||||||||||||||||
As of June 30, 2014 and December 31, 2013, property and equipment at locations outside the U.S. was not material. | |||||||||||||||||
Recently_Issued_and_Adopted_Ac
Recently Issued and Adopted Accounting Standards | 6 Months Ended |
Jun. 30, 2014 | |
Recently Issued and Adopted Accounting Standards [Abstract] | ' |
Recently Issued and Adopted Accounting Standards | ' |
14. Recently Issued and Adopted Accounting Standards | |
In March 2013, the Financial Accounting Standards Board (FASB) issued ASU 2013-05, Foreign Currency Matters, which permits an entity to release cumulative translation adjustments into net income when a reporting entity (parent) ceases to have a controlling financial interest in a subsidiary or group of assets that is a business within a foreign entity. Accordingly, the cumulative translation adjustment should be released into net income only if the sale or transfer results in the complete or substantially complete liquidation of the foreign entity in which the subsidiary or group of assets had resided, or, if a controlling financial interest is no longer held. The revised standard was effective beginning after December 15, 2013. The Company adopted this guidance effective January 1, 2014. The adoption of ASU 2013-05 did not have a significant impact on the Company's consolidated financial statements. | |
In July 2013, the FASB issued ASU 2013-11, Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists (Topic 740). ASU 2013-11 requires that unrecognized tax benefits be presented in the financial statements as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss, or a tax credit carryforward, except in certain circumstances. When those circumstances exist, the unrecognized tax benefit should be presented in the financial statements as a liability and should not be combined with deferred tax assets. The Company adopted this guidance effective January 1, 2014. The adoption of ASU 2013-11 did not have a significant impact on the Company's consolidated financial statements. | |
In May 2014, the FASB and the International Accounting Standards Board jointly issued ASU No. 2014-9, Revenue from Contracts with Customers , which clarifies the principles for recognizing revenue and develops a common revenue standard for GAAP and International Financial Reporting Standards. The core principle of the guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods and services. The ASU is effective for public entities for annual and interim periods beginning after December 15, 2016. Early adoption is not permitted under GAAP and retrospective application is permitted but not required. The Company is currently evaluating the impact of adopting this guidance on its financial position and results of operations. | |
Business_Description_and_Basis1
Business Description and Basis of Presentation (Policies) | 6 Months Ended |
Jun. 30, 2014 | |
Accounting Policies [Abstract] | ' |
Business Description | ' |
Business Description | |
Brightcove Inc. (the Company) is a leading global provider of cloud services for video which enable its customers to publish and distribute video to Internet-connected devices quickly, easily and in a cost-effective and high-quality manner. | |
The Company is headquartered in Boston, Massachusetts and was incorporated in the state of Delaware on August 24, 2004. At June 30, 2014, the Company had nine wholly-owned subsidiaries: Brightcove UK Ltd, Brightcove Singapore Pte. Ltd., Brightcove Korea, Brightcove Australia Pty Ltd, Brightcove Holdings, Inc., Brightcove Kabushiki Kaisha (Brightcove KK), Zencoder Inc. (Zencoder), Brightcove FZ-LLC and Cacti Acquisition LLC. | |
On January 31, 2014, the Company acquired substantially all of the assets of Unicorn Media, Inc. and certain of its subsidiaries pursuant to an Asset Purchase Agreement and Plan of Reorganization (the Purchase Agreement). Unicorn Media, Inc. is a privately-held company located in Tempe, Arizona and a provider of cloud video ad insertion technology. See Note 2 for further discussion. | |
Basis of Presentation | ' |
Basis of Presentation | |
The accompanying interim condensed consolidated financial statements are unaudited. These condensed consolidated financial statements and notes should be read in conjunction with the audited consolidated financial statements and related notes, together with Management's Discussion and Analysis of Financial Condition and Results of Operations, contained in the Company's Annual Report on Form 10-K for the year ended December 31, 2013. | |
The accompanying unaudited condensed consolidated financial statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission. Accordingly, certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles in the United States have been condensed or omitted pursuant to such rules and regulations. In the opinion of management, the unaudited condensed consolidated financial statements and notes have been prepared on the same basis as the audited consolidated financial statements for the year ended December 31, 2013 contained in the Company's Annual Report on Form 10-K and include all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of the Company's financial position for the three and six months ended June 30, 2014 and 2013. These interim periods are not necessarily indicative of the results to be expected for any other interim period or the full year. | |
The Company considers events or transactions that occur after the balance sheet date but prior to the issuance of the financial statements to provide additional evidence for certain estimates or to identify matters that require additional disclosure. Subsequent events have been evaluated as required. The Company has evaluated all subsequent events and determined that there are no material recognized or unrecognized subsequent events requiring disclosure, other than those disclosed in this Report on Form 10-Q. | |
The accompanying condensed consolidated financial statements reflect the application of certain significant accounting policies as described below and elsewhere in these notes to the condensed consolidated financial statements. As of June 30, 2014, the Company's significant accounting policies and estimates, which are detailed in the Company's Annual Report on Form 10-K for the year ended December 31, 2013, have not changed. |
Business_Combination_Tables
Business Combination (Tables) | 6 Months Ended | ||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||
Business Combinations [Abstract] | ' | ||||||||||||||||
Total Purchase Price for Unicorn | ' | ||||||||||||||||
The total purchase price for Unicorn has been preliminarily allocated as follows: | |||||||||||||||||
Cash and cash equivalents | $ | 13 | |||||||||||||||
Other tangible assets | 3,822 | ||||||||||||||||
Identifiable intangible assets | 11,429 | ||||||||||||||||
Goodwill | 29,081 | ||||||||||||||||
Liabilities assumed | -4,617 | ||||||||||||||||
Total estimated purchase price | $ | 39,728 | |||||||||||||||
Intangible Assets Acquired and Their Respective Useful Lives | ' | ||||||||||||||||
The following are the identifiable intangible assets acquired and their respective useful lives, as determined based on preliminary valuations: | |||||||||||||||||
Amount | Useful Life | ||||||||||||||||
Developed technology | $ | 8,149 | 8 | ||||||||||||||
Customer relationships | 1,964 | 7 | |||||||||||||||
Non-compete agreements | 1,316 | 3 | |||||||||||||||
Total | $ | 11,429 | |||||||||||||||
Schedule of Estimated Future Annual Amortization Expense Related to Intangible Assets | ' | ||||||||||||||||
The estimated remaining amortization expense for the remainder of 2014 and for each of the five succeeding years and thereafter is as follows: | |||||||||||||||||
Year ended December 31, | Amount | ||||||||||||||||
2014 | $ | 869 | |||||||||||||||
2015 | 1,738 | ||||||||||||||||
2016 | 1,738 | ||||||||||||||||
2017 | 1,336 | ||||||||||||||||
2018 | 1,299 | ||||||||||||||||
2019 and thereafter | 3,725 | ||||||||||||||||
Total | $ | 10,705 | |||||||||||||||
Schedule of Pro Forma Financial Information | ' | ||||||||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
Total revenue | $ | 31,003 | $ | 28,490 | $ | 62,649 | $ | 54,373 | |||||||||
Net loss | $ | (3,999 | ) | $ | (5,469 | ) | $ | (8,085 | ) | $ | (12,972 | ) | |||||
Earnings per share – basic and diluted | $ | (0.12 | ) | $ | (0.18 | ) | $ | (0.25 | ) | $ | (0.42 | ) |
Cash_Cash_Equivalents_and_Inve1
Cash, Cash Equivalents and Investments (Tables) | 6 Months Ended | ||||||||||||||
Jun. 30, 2014 | |||||||||||||||
Cash, Cash Equivalents and Investments [Abstract] | ' | ||||||||||||||
Schedule of Cash, Cash Equivalents and Investments | ' | ||||||||||||||
Cash and cash equivalents as of June 30, 2014 consist of the following: | |||||||||||||||
30-Jun-14 | |||||||||||||||
Description | Contracted Maturity | Amortized Cost | Fair Market | Balance Per | |||||||||||
Value | Balance Sheet | ||||||||||||||
Cash | Demand | $ | 10,412 | $ | 10,412 | $ | 10,412 | ||||||||
Money market funds | Demand | 10,373 | 10,373 | 10,373 | |||||||||||
Total cash and cash equivalents | $ | 20,785 | $ | 20,785 | $ | 20,785 | |||||||||
Cash, cash equivalents and investments as of December 31, 2013 consist of the following: | |||||||||||||||
31-Dec-13 | |||||||||||||||
Description | Contracted Maturity | Amortized Cost | Fair Market | Balance Per | |||||||||||
Value | Balance Sheet | ||||||||||||||
Cash | Demand | $ | 19,250 | $ | 19,250 | $ | 19,250 | ||||||||
Money market funds | Demand | 13,797 | 13,797 | 13,797 | |||||||||||
Total cash and cash equivalents | $ | 33,047 | $ | 33,047 | $ | 33,047 | |||||||||
Certificates of deposit | 110 – 163 days | $ | 960 | $ | 961 | $ | 960 | ||||||||
Corporate debentures | 23 – 96 days | 2,101 | 2,102 | 2,101 | |||||||||||
Total short-term investments | $ | 3,061 | $ | 3,063 | $ | 3,061 |
Net_Loss_per_Share_Tables
Net Loss per Share (Tables) | 6 Months Ended | ||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||
Net Loss per Share [Abstract] | ' | ||||||||||||||||
Potentially Dilutive Common Stock Equivalent Shares Excluded from Computation of Weighted-Average Shares Outstanding | ' | ||||||||||||||||
The following potentially dilutive common stock equivalent shares have been excluded from the computation of weighted-average shares outstanding as their effect would have been anti-dilutive (in thousands): | |||||||||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
Options outstanding | 3,477 | 3,350 | 3,511 | 3,336 | |||||||||||||
Restricted stock units outstanding | 1,001 | 1,378 | 1,153 | 1,441 | |||||||||||||
Warrants | 28 | 28 | 28 | 28 | |||||||||||||
Total | 4,506 | 4,756 | 4,692 | 4,805 |
Fair_Value_of_Financial_Instru1
Fair Value of Financial Instruments (Tables) | 6 Months Ended | ||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||
Fair Value of Financial Instruments [Abstract] | ' | ||||||||||||||||
Company's Financial Instruments Carried at Fair Value Using Lowest Level of Input | ' | ||||||||||||||||
The following tables set forth the Company's financial instruments carried at fair value using the lowest level of input as of June 30, 2014 and December 31, 2013: | |||||||||||||||||
30-Jun-14 | |||||||||||||||||
Quoted Prices in Active Markets for Identical Items (Level 1) | Significant Other | Significant | Total | ||||||||||||||
Observable Inputs | Unobservable Inputs | ||||||||||||||||
(Level 2) | (Level 3) | ||||||||||||||||
Assets: | |||||||||||||||||
Money market funds | $ | 10,373 | $ | — | $ | — | $ | 10,373 | |||||||||
Restricted cash | — | 209 | — | 209 | |||||||||||||
Total assets | $ | 10,373 | $ | 209 | $ | — | $ | 10,582 | |||||||||
31-Dec-13 | |||||||||||||||||
Quoted Prices in Active Markets for Identical Items (Level 1) | Significant Other | Significant | Total | ||||||||||||||
Observable Inputs | Unobservable Inputs | ||||||||||||||||
(Level 2) | (Level 3) | ||||||||||||||||
Assets: | |||||||||||||||||
Money market funds | $ | 13,797 | $ | — | $ | — | $ | 13,797 | |||||||||
Restricted cash | — | 322 | — | 322 | |||||||||||||
Total assets | $ | 13,797 | $ | 322 | $ | — | $ | 14,119 |
Stockbased_Compensation_Tables
Stock-based Compensation (Tables) | 6 Months Ended | ||||||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||||||
Stock-based Compensation [Abstract] | ' | ||||||||||||||||||||
Weighted-Average Assumptions | ' | ||||||||||||||||||||
The fair value of stock options granted was estimated at the date of grant using the following weighted-average assumptions: | |||||||||||||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||||||
Expected life in years | 6.1 | 6.2 | 6.2 | 6.2 | |||||||||||||||||
Risk-free interest rate | 2.19 | % | 1.12 | % | 2.17 | % | 1.19 | % | |||||||||||||
Volatility | 52 | % | 55 | % | 53 | % | 55 | % | |||||||||||||
Dividend yield | — | — | — | — | |||||||||||||||||
Weighted-average fair value of stock options granted | $ | 4.14 | $ | 3.9 | $ | 5.25 | $ | 3.76 | |||||||||||||
Summary of Status of Company's Stock Option Activity | ' | ||||||||||||||||||||
Number of | Exercise Price | Weighted | Weighted | Aggregate | |||||||||||||||||
Shares | Per Share | Average | Average | Intrinsic | |||||||||||||||||
Exercise | Remaining | Value (1) | |||||||||||||||||||
Price | Contractual | ||||||||||||||||||||
Per Share | Term (Years) | ||||||||||||||||||||
Outstanding at December 31, 2013 | 3,060,583 | $ | 0.31 – 16.88 | $ | 6.76 | ||||||||||||||||
Granted | 1,078,315 | 8.06 – 10.74 | 9.91 | ||||||||||||||||||
Exercised | (181,763 | ) | 0.31 – 11.00 | 3.06 | $ | 1,309 | |||||||||||||||
Canceled | (258,987 | ) | 6.48 – 16.88 | 9.85 | |||||||||||||||||
Outstanding at June 30, 2014 | 3,698,148 | $ | 0.31 – 16.88 | $ | 7.65 | 6.99 | $ | 12,120 | |||||||||||||
Exercisable at June 30, 2014 | 1,970,402 | $ | 0.31 – 16.88 | $ | 5.23 | 5.45 | $ | 11,029 | |||||||||||||
Vested or expected to vest at June 30, 2014 (2) | 3,240,111 | $ | 0.31 – 16.88 | $ | 7.26 | 6.73 | $ | 11,834 | |||||||||||||
-1 | The aggregate intrinsic value was calculated based on the positive difference between the fair value of the Company's common stock on June 30, 2014 of $10.54 per share, or the date of exercise, as appropriate, and the exercise price of the underlying options. | ||||||||||||||||||||
-2 | This represents the number of vested options as of June 30, 2014 plus the number of unvested options expected to vest as of June 30, 2014 based on the unvested options outstanding at June 30, 2014 adjusted for an estimated forfeiture rate. | ||||||||||||||||||||
Restricted Stock Units Award Activity | ' | ||||||||||||||||||||
The following table summarizes the restricted stock unit award activity during the six months ended June 30, 2014: | |||||||||||||||||||||
Shares | Weighted | ||||||||||||||||||||
Average Grant | |||||||||||||||||||||
Date Fair Value | |||||||||||||||||||||
Unvested by December 31, 2013 | 1,177,716 | $ | 10.26 | ||||||||||||||||||
Granted | 2,000 | 9.65 | |||||||||||||||||||
Vested and issued | (145,191 | ) | 9.38 | ||||||||||||||||||
Canceled | (141,449 | ) | 9.37 | ||||||||||||||||||
Unvested by June 30, 2014 | 893,076 | $ | 10.28 |
Commitments_and_Contingencies_
Commitments and Contingencies (Tables) | 6 Months Ended | ||||
Jun. 30, 2014 | |||||
Commitments and Contingencies [Abstract] | ' | ||||
Future Minimum Rental Commitments Under Capital Leases | ' | ||||
Future minimum rental commitments under capital leases at June 30, 2014 are as follows: | |||||
Year Ending December 31 | Capital Lease Commitments | ||||
2014 | $ | 712 | |||
2015 | 1,357 | ||||
2016 | 349 | ||||
2017 | 17 | ||||
Less – interest on capital leases | 89 | ||||
$ | 2,346 |
Segment_Information_Tables
Segment Information (Tables) | 6 Months Ended | ||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||
Segment Information [Abstract] | ' | ||||||||||||||||
Total Revenue from Unaffiliated Customers by Geographic Area, Based on Location of Customer | ' | ||||||||||||||||
Total revenue from unaffiliated customers by geographic area, based on the location of the customer, was as follows: | |||||||||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
Revenue: | |||||||||||||||||
North America | $ | 18,481 | $ | 15,794 | $ | 36,495 | $ | 31,208 | |||||||||
Europe | 7,730 | 6,498 | 16,357 | 11,888 | |||||||||||||
Japan | 2,012 | 1,518 | 3,933 | 2,971 | |||||||||||||
Asia Pacific | 2,543 | 2,920 | 4,876 | 5,202 | |||||||||||||
Other | 237 | 171 | 447 | 353 | |||||||||||||
Total revenue | $ | 31,003 | $ | 26,901 | $ | 62,108 | $ | 51,622 |
Business_Combination_Narrative
Business Combination (Narrative) (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Business Acquisition [Line Items] | ' | ' | ' | ' |
Cash payment for acquisition | ' | ' | $9,100 | ' |
Merger-related costs | 521 | 546 | 2,388 | 1,091 |
Common stock issued in acquisition, value | ' | ' | 30,615 | ' |
Unicorn [Member] | ' | ' | ' | ' |
Business Acquisition [Line Items] | ' | ' | ' | ' |
Business acquisition date | ' | ' | 31-Jan-14 | ' |
Purchase price | ' | ' | 39,728 | ' |
Cash payment for acquisition | ' | ' | 9,100 | ' |
Merger-related costs | 456 | ' | 2,207 | ' |
Retention Payment | ' | ' | 1,750 | ' |
Merger-related compensation expense | $344 | ' | $571 | ' |
Shares issued price per share | $10.74 | ' | $10.74 | ' |
Common stock issued in acquisition | ' | ' | 2,850,547 | ' |
Shares placed into escrow account | ' | ' | 1,285,715 | ' |
Business_Combination_Total_Pur
Business Combination (Total Purchase Price for Unicorn) (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Total purchase price allocation: | ' | ' |
Less cash and cash equivalents acquired | $13 | ' |
Goodwill | 51,099 | 22,018 |
Liabilities assumed | -4,617 | ' |
Unicorn [Member] | ' | ' |
Total purchase price allocation: | ' | ' |
Less cash and cash equivalents acquired | 13 | ' |
Other tangible assets | 3,822 | ' |
Identifiable intangible assets | 11,429 | ' |
Goodwill | 29,081 | ' |
Liabilities assumed | -4,617 | ' |
Total purchase price | $39,728 | ' |
Business_Combination_Intangibl
Business Combination (Intangible Assets Acquired and Their Respective Useful Lives) (Details) (USD $) | 6 Months Ended |
In Thousands, unless otherwise specified | Jun. 30, 2014 |
Developed technology [Member] | ' |
Acquired Finite-Lived Intangible Assets [Line Items] | ' |
Identifiable intangible assets | $8,149 |
Useful Life (years) | '8 years |
Customer relationships [Member] | ' |
Acquired Finite-Lived Intangible Assets [Line Items] | ' |
Identifiable intangible assets | 1,964 |
Useful Life (years) | '7 years |
Non-Compete agreements [Member] | ' |
Acquired Finite-Lived Intangible Assets [Line Items] | ' |
Identifiable intangible assets | 1,316 |
Useful Life (years) | '3 years |
Unicorn [Member] | ' |
Acquired Finite-Lived Intangible Assets [Line Items] | ' |
Identifiable intangible assets | $11,429 |
Business_Combination_Schedule_
Business Combination (Schedule of Amortization Expense) (Details) (Unicorn [Member], USD $) | Jun. 30, 2014 |
In Thousands, unless otherwise specified | |
Unicorn [Member] | ' |
Business Acquisition [Line Items] | ' |
2014 | $869 |
2015 | 1,738 |
2016 | 1,738 |
2017 | 1,336 |
2018 | 1,299 |
2019 and thereafter | 3,725 |
Total | $10,705 |
Business_Combination_Pro_Forma
Business Combination (Pro Forma Financial Information) (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Business Acquisition Pro Forma Information [Line Items] | ' | ' | ' | ' |
Total revenue | $31,003 | $28,490 | $62,649 | $54,373 |
Net loss | ($3,999) | ($5,469) | ($8,085) | ($12,972) |
Earnings per share - basic and diluted | ($0.12) | ($0.18) | ($0.25) | ($0.42) |
Noncontrolling_Interest_Detail
Non-controlling Interest (Details) (Brightcove Inc. [Member]) | 6 Months Ended |
Jun. 30, 2014 | |
Brightcove Inc. [Member] | ' |
Noncontrolling Interest [Line Items] | ' |
Remaining non-controlling interest | 37.00% |
Cumulative ownership interest after transaction | 100.00% |
Cash_Cash_Equivalents_and_Inve2
Cash, Cash Equivalents and Investments (Schedule of Cash, Cash Equivalents and Investments) (Details) (USD $) | 6 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Jun. 30, 2014 | Dec. 31, 2013 |
Cash and cash equivalents [Member] | ' | ' |
Investment Holdings [Line Items] | ' | ' |
Amortized Cost | $20,785 | $33,047 |
Fair Market Value | 20,785 | 33,047 |
Balance Per Balance Sheet | 20,785 | 33,047 |
Short-term investments [Member] | ' | ' |
Investment Holdings [Line Items] | ' | ' |
Amortized Cost | ' | 3,061 |
Fair Market Value | ' | 3,063 |
Balance Per Balance Sheet | ' | 3,061 |
Cash [Member] | Cash and cash equivalents [Member] | ' | ' |
Investment Holdings [Line Items] | ' | ' |
Contracted Maturity, description | 'Demand | 'Demand |
Amortized Cost | 10,412 | 19,250 |
Fair Market Value | 10,412 | 19,250 |
Balance Per Balance Sheet | 10,412 | 19,250 |
Money Market Funds [Member] | Cash and cash equivalents [Member] | ' | ' |
Investment Holdings [Line Items] | ' | ' |
Contracted Maturity, description | 'Demand | 'Demand |
Amortized Cost | 10,373 | 13,797 |
Fair Market Value | 10,373 | 13,797 |
Balance Per Balance Sheet | 10,373 | 13,797 |
Certificates of Deposit [Member] | Short-term investments [Member] | ' | ' |
Investment Holdings [Line Items] | ' | ' |
Amortized Cost | ' | 960 |
Fair Market Value | ' | 961 |
Balance Per Balance Sheet | ' | 960 |
Certificates of Deposit [Member] | Short-term investments [Member] | Minimum [Member] | ' | ' |
Investment Holdings [Line Items] | ' | ' |
Contracted Maturity | ' | '110 days |
Certificates of Deposit [Member] | Short-term investments [Member] | Maximum [Member] | ' | ' |
Investment Holdings [Line Items] | ' | ' |
Contracted Maturity | ' | '163 days |
Corporate Debentures [Member] | Short-term investments [Member] | ' | ' |
Investment Holdings [Line Items] | ' | ' |
Amortized Cost | ' | 2,101 |
Fair Market Value | ' | 2,102 |
Balance Per Balance Sheet | ' | $2,101 |
Corporate Debentures [Member] | Short-term investments [Member] | Minimum [Member] | ' | ' |
Investment Holdings [Line Items] | ' | ' |
Contracted Maturity | ' | '23 days |
Corporate Debentures [Member] | Short-term investments [Member] | Maximum [Member] | ' | ' |
Investment Holdings [Line Items] | ' | ' |
Contracted Maturity | ' | '96 days |
Net_Loss_per_Share_Schedule_of
Net Loss per Share (Schedule of Potentially Dilutive Common Stock Equivalent Shares Excluded from Computation of Weighted-Average Shares Outstanding) (Details) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' | ' |
Total | 4,506 | 4,756 | 4,692 | 4,805 |
Options outstanding [Member] | ' | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' | ' |
Total | 3,477 | 3,350 | 3,511 | 3,336 |
Restricted Stock Units (RSUs) [Member] | ' | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' | ' |
Total | 1,001 | 1,378 | 1,153 | 1,441 |
Warrants [Member] | ' | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' | ' |
Total | 28 | 28 | 28 | 28 |
Fair_Value_of_Financial_Instru2
Fair Value of Financial Instruments (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Money market funds | $10,373 | $13,797 |
Restricted cash | 209 | 322 |
Total assets | 10,582 | 14,119 |
Quoted Prices in Active Markets for Identical Items (Level 1) [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Money market funds | 10,373 | 13,797 |
Restricted cash | ' | ' |
Total assets | 10,373 | 13,797 |
Significant Other Observable Inputs (Level 2) [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Money market funds | ' | ' |
Restricted cash | 209 | 322 |
Total assets | 209 | 322 |
Significant Unobservable Inputs (Level 3) [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Money market funds | ' | ' |
Restricted cash | ' | ' |
Total assets | ' | ' |
Stockbased_Compensation_Schedu
Stock-based Compensation (Schedule of Weighted-Average Assumptions) (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | |
Stock-based Compensation [Abstract] | ' | ' | ' | ' |
Expected life in years | '6 years 1 month 6 days | '6 years 2 months 12 days | '6 years 2 months 12 days | '6 years 2 months 12 days |
Risk-free interest rate | 2.19% | 1.12% | 2.17% | 1.19% |
Volatility | 52.00% | 55.00% | 53.00% | 55.00% |
Dividend yield | ' | ' | ' | ' |
Weighted-average fair value of stock options granted | $4.14 | $3.90 | $5.25 | $3.76 |
Stockbased_Compensation_Narrat
Stock-based Compensation (Narrative) (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Stock-based Compensation [Abstract] | ' | ' | ' | ' |
Unrecognized stock-based compensation expense | $11,801 | ' | $11,801 | ' |
Weighted average period | ' | ' | '3 years 1 month 17 days | ' |
Stock based compensation expense | $1,497 | $1,452 | $3,247 | $3,151 |
Stockbased_Compensation_Summar
Stock-based Compensation (Summary of Status of Company's Stock Option Activity) (Details) (Employee Stock Option [Member], USD $) | 6 Months Ended | |
In Thousands, except Share data, unless otherwise specified | Jun. 30, 2014 | |
Number of Shares | ' | |
Beginning balance | 3,060,583 | |
Granted | 1,078,315 | |
Exercised | -181,763 | |
Canceled | -258,987 | |
Ending Balance | 3,698,148 | |
Exercisable | 1,970,402 | |
Vested or expected to vest | 3,240,111 | [1] |
Weighted Average Exercise Price Per Share | ' | |
Beginning Balance | $6.76 | |
Granted | $9.91 | |
Exercised | $3.06 | |
Canceled | $9.85 | |
Ending Balance | $7.65 | |
Exercisable | $5.23 | |
Vested and Expected to Vest | $7.26 | [1] |
Weighted Average Remaining Contractual Term (Years) | ' | |
Ending Balance | '6 years 11 months 26 days | |
Exercisable | '5 years 5 months 12 days | |
Vested and Expected to Vest | '6 years 8 months 23 days | [1] |
Aggregate Intrinsic Value | ' | |
Exercised | $1,309 | [2] |
Ending Balance | 12,120 | [2] |
Exercisable | 11,029 | [2] |
Vested or expected to vest | $11,834 | [1],[2] |
Minimum [Member] | ' | |
Exercise Price Per Share | ' | |
Beginning Balance | $0.31 | |
Granted | $8.06 | |
Exercised | $0.31 | |
Canceled | $6.48 | |
Ending Balance | $0.31 | |
Exercisable | $0.31 | |
Vested or expected to vest | $0.31 | [1] |
Maximum [Member] | ' | |
Exercise Price Per Share | ' | |
Beginning Balance | $16.88 | |
Granted | $10.74 | |
Exercised | $11 | |
Canceled | $16.88 | |
Ending Balance | $16.88 | |
Exercisable | $16.88 | |
Vested or expected to vest | $16.88 | [1] |
[1] | This represents the numberof vested options as of June 30, 2014 plus the number of unvested options expected to vest as of June 30, 2014 based on the unvestedoptions outstanding at June 30, 2014 adjusted for an estimated forfeiture rate. | |
[2] | The aggregate intrinsicvalue was calculated based on the positive difference between the fair value of the Company's common stock on June 30, 2014of $10.54 per share, or the date of exercise, as appropriate, and the exercise price of the underlying options. |
Stockbased_Compensation_Summar1
Stock-based Compensation (Summary of Status of Company's Stock Option Activity) (Parenthetical) (Details) (USD $) | Jun. 30, 2014 |
Stock-based Compensation [Abstract] | ' |
Fair value of the Company's common stock | $10.54 |
Stockbased_Compensation_Schedu1
Stock-based Compensation (Schedule of Restricted Stock Units Award Activity) (Details) (Restricted Stock Units (RSUs) [Member], USD $) | 6 Months Ended |
Jun. 30, 2014 | |
Restricted Stock Units (RSUs) [Member] | ' |
Shares | ' |
Unvested Shares, Beginning Balance | 1,177,716 |
Granted | 2,000 |
Vested and issued | -145,191 |
Canceled | -141,449 |
Unvested Shares, Ending Balance | 893,076 |
Weighted-Average Grant Date Fair Value | ' |
Weighted Average Grant Date Fair Value, Beginning Balance | $10.26 |
Weighted Average Grant Date Fair Value, Granted | $9.65 |
Vested and issued | $9.38 |
Weighted Average Grant Date Fair Value, Canceled | $9.37 |
Weighted Average Grant Date Fair Value, Ending Balance | $10.28 |
Income_Taxes_Details
Income Taxes (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Income Taxes [Abstract] | ' | ' | ' | ' |
Income tax expense | $56 | $56 | $123 | $94 |
Commitments_and_Contingencies_1
Commitments and Contingencies (Details) (USD $) | Jun. 30, 2014 |
In Thousands, unless otherwise specified | |
Commitment And Contingencies [Line Items] | ' |
Total assets under capital leases | $3,292 |
Assets under capital leases, accumulated amortization | 1,314 |
Letter of Credit [Member] | ' |
Commitment And Contingencies [Line Items] | ' |
Non-cancelable commitments due in 2014 | 1,599 |
Non-cancelable commitments due in 2015 | 1,599 |
Non-cancelable commitments due in 2016 | 1,599 |
Total capital lease obligation assumed | $2,871 |
Commitments_and_Contingencies_2
Commitments and Contingencies (Future Minimum Rental Commitments Under Capital Leases) (Details) (USD $) | Jun. 30, 2014 |
In Thousands, unless otherwise specified | |
Future minimum rental commitments under capital leases | ' |
2014 | $712 |
2015 | 1,357 |
2016 | 349 |
2017 | 17 |
Less - interest on capital leases | 89 |
Capital Lease Commitments | $2,346 |
Debt_Details
Debt (Details) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Jun. 30, 2014 |
In Millions, unless otherwise specified | Secured Line of Credit [Member] | Amended Agreement [Member] | ||
Line of Credit Facility [Line Items] | ' | ' | ' | ' |
Debt issuance date | ' | ' | 31-Mar-11 | 29-Apr-13 |
Line of credit maximum borrowing capacity | ' | ' | $8 | $10 |
Percentage of eligible accounts receivable | ' | ' | 80.00% | ' |
Basis spread on variable rate | ' | ' | 1.50% | ' |
Outstanding borrowings under line of credit | ' | ' | ' | ' |
Line of Credit maturity date | ' | ' | 31-Mar-13 | 30-Mar-15 |
Segment_Information_Schedule_o
Segment Information (Schedule of Total Revenue from Unaffiliated Customers by Geographic Area, Based on Location of Customer) (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' |
Revenues | $31,003 | $26,901 | $62,108 | $51,622 |
North America [Member] | ' | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' |
Revenues | 18,481 | 15,794 | 36,495 | 31,208 |
Europe [Member] | ' | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' |
Revenues | 7,730 | 6,498 | 16,357 | 11,888 |
Japan [Member] | ' | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' |
Revenues | 2,012 | 1,518 | 3,933 | 2,971 |
Asia Pacific [Member] | ' | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' |
Revenues | 2,543 | 2,920 | 4,876 | 5,202 |
Other [Member] | ' | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' |
Revenues | $237 | $171 | $447 | $353 |
Segment_Information_Narrative_
Segment Information (Narrative) (Details) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' |
Revenues from customers | $31,003 | $26,901 | $62,108 | $51,622 |
Revenue percentage from other country to the company's total revenue | 10.00% | 10.00% | 10.00% | 10.00% |
United States [Member] | ' | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' |
Revenues from customers | $17,318 | $14,655 | $33,736 | $28,947 |