Document_and_Entity_Informatio
Document and Entity Information (USD $) | 12 Months Ended | ||
In Millions, except Share data, unless otherwise specified | Dec. 31, 2013 | Jan. 31, 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 | ' | ' |
Trading Symbol | 'MRIN | ' | ' |
Entity Registrant Name | 'MARIN SOFTWARE INC | ' | ' |
Entity Central Index Key | '0001389002 | ' | ' |
Current Fiscal Year End Date | '--12-31 | ' | ' |
Entity Well-known Seasoned Issuer | 'No | ' | ' |
Entity Current Reporting Status | 'Yes | ' | ' |
Entity Voluntary Filers | 'No | ' | ' |
Entity Filer Category | 'Non-accelerated Filer | ' | ' |
Entity Common Stock, Shares Outstanding | ' | 33,000,000 | ' |
Entity Public Float | ' | ' | $195 |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Current assets | ' | ' |
Cash and cash equivalents | $104,407 | $31,540 |
Accounts receivable, net | 14,921 | 13,133 |
Prepaid expenses and other current assets | 2,695 | 1,814 |
Total current assets | 122,023 | 46,487 |
Property and equipment, net | 14,417 | 9,224 |
Other noncurrent assets | 937 | 1,513 |
Total assets | 137,377 | 57,224 |
Current liabilities | ' | ' |
Accounts payable | 1,018 | 1,268 |
Accrued payroll and other expenses | 10,950 | 9,661 |
Deferred revenue | 2,566 | 618 |
Current portion of long-term debt | 3,253 | 1,572 |
Total current liabilities | 17,787 | 13,119 |
Long-term debt, less current portion | 2,962 | 9,243 |
Other long-term liabilities | 1,284 | 1,858 |
Total liabilities | 22,033 | 24,220 |
Commitments and contingencies (Note 13) | ' | ' |
Convertible preferred stock, net of issuance costs $0.001 par value - 10,000 and 18,804 shares authorized, 0 and 18,753 shares issued and outstanding at December 31, 2013 and 2012, respectively (liquidation preferences of $0 and $106,519 as of December 31, 2013 and 2012, respectively) | ' | 105,710 |
Stockholders' (deficit) equity | ' | ' |
Common stock, $0.001 par value - 500,000 and 36,000 shares authorized, 33,133 and 4,942 shares issued, 32,953, and 4,658 outstanding at December 31, 2013 and December 31, 2012, respectively; | 33 | 5 |
Additional paid-in capital | 228,512 | 4,638 |
Accumulated deficit | -113,201 | -77,349 |
Total stockholders' (deficit) equity | 115,344 | -72,706 |
Total liabilities, convertible preferred stock, and stockholders' (deficit) equity | $137,377 | $57,224 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, except Per Share data, unless otherwise specified | ||
Statement Of Financial Position [Abstract] | ' | ' |
Convertible preferred stock, par value | $0.00 | $0.00 |
Convertible preferred stock, shares authorized | 10,000 | 18,804 |
Convertible preferred stock, shares issued | 0 | 18,753 |
Convertible preferred stock, shares outstanding | 0 | 18,753 |
Convertible preferred stock, liquidation preferences value | $0 | $106,519 |
Common stock, par value | $0.00 | $0.00 |
Common stock, shares authorized | 500,000 | 36,000 |
Common stock, shares issued | 33,133 | 4,942 |
Common stock, shares outstanding | 32,953 | 4,658 |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Loss (USD $) | 12 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Revenues, net | $77,315 | $59,558 | $36,121 |
Cost of revenues | 31,109 | 24,764 | 18,691 |
Gross profit | 46,206 | 34,794 | 17,430 |
Operating expenses | ' | ' | ' |
Sales and marketing | 42,799 | 32,633 | 20,357 |
Research and development | 20,715 | 14,014 | 7,071 |
General and administrative | 17,028 | 13,432 | 6,679 |
Total operating expenses | 80,542 | 60,079 | 34,107 |
Loss from operations | -34,336 | -25,285 | -16,677 |
Interest expense, net | -453 | -520 | -378 |
Other income (expenses), net | -571 | -456 | -229 |
Loss before provision for income taxes | -35,360 | -26,261 | -17,284 |
Provision for income taxes | -492 | -221 | -139 |
Net loss | -35,852 | -26,482 | -17,423 |
Other comprehensive income (loss) | ' | ' | ' |
Comprehensive loss | -35,852 | -26,482 | -17,423 |
Net loss per share available to common stockholders, basic and diluted | ($1.36) | ($6) | ($4.29) |
Weighted-average shares used to compute net loss per share available to common stockholders, basic and diluted | 26,312 | 4,417 | 4,058 |
Stock-based compensation is allocated as follows (Note 9): | ' | ' | ' |
Allocation of stock-based compensation | ' | 2,590 | ' |
Cost of Revenues [Member] | ' | ' | ' |
Stock-based compensation is allocated as follows (Note 9): | ' | ' | ' |
Allocation of stock-based compensation | 887 | 439 | 165 |
Sales and Marketing [Member] | ' | ' | ' |
Stock-based compensation is allocated as follows (Note 9): | ' | ' | ' |
Allocation of stock-based compensation | 1,304 | 1,005 | 226 |
Research and Development [Member] | ' | ' | ' |
Stock-based compensation is allocated as follows (Note 9): | ' | ' | ' |
Allocation of stock-based compensation | 1,346 | 831 | 163 |
General and Administrative [Member] | ' | ' | ' |
Stock-based compensation is allocated as follows (Note 9): | ' | ' | ' |
Allocation of stock-based compensation | $1,681 | $2,673 | $143 |
Consolidated_Statements_of_Con
Consolidated Statements of Convertible Preferred Stock and Stockholders Deficit (USD $) | Total | Convertible Preferred Stock [Member] | Convertible Preferred Stock [Member] | Convertible Preferred Stock [Member] | Convertible Preferred Stock [Member] | Common Stock [Member] | Additional Paid-In Capital [Member] | Accumulated Deficit [Member] | Accumulated Other Comprehensive Loss [Member] |
In Thousands | Series E [Member] | Series F [Member] | Series F-1 [Member] | ||||||
Beginning Balance at Dec. 31, 2010 | ($32,578) | $35,580 | ' | ' | ' | $4 | $862 | ($33,444) | ' |
Beginning Balance, shares at Dec. 31, 2010 | ' | 12,726 | ' | ' | ' | 3,808 | ' | ' | ' |
Issuance of stock, net of issuance costs | ' | ' | 15,934 | ' | ' | ' | ' | ' | ' |
Issuance of stock, shares | ' | ' | 1,744 | ' | ' | ' | ' | ' | ' |
Issuance of common stock from exercise of vested stock options and vesting of early exercised options | 553 | ' | ' | ' | ' | 1 | 552 | ' | ' |
Issuance of common stock from exercise of vested stock options and vesting of early exercised options, shares | 607 | ' | ' | ' | ' | 574 | ' | ' | ' |
Issuance of common stock from exercise of warrant | 155 | ' | ' | ' | ' | ' | 155 | ' | ' |
Issuance of common stock from exercise of warrant, shares | ' | ' | ' | ' | ' | 57 | ' | ' | ' |
Stock-based compensation expense | 697 | ' | ' | ' | ' | ' | 697 | ' | ' |
Compensation expense from issuance of warrants | 49 | ' | ' | ' | ' | ' | 49 | ' | ' |
Issuance of warrants in connection with debt agreement | 139 | ' | ' | ' | ' | ' | 139 | ' | ' |
Net loss and comprehensive loss | -17,423 | ' | ' | ' | ' | ' | ' | -17,423 | ' |
Ending Balance at Dec. 31, 2011 | -48,408 | 51,514 | ' | ' | ' | 5 | 2,454 | -50,867 | ' |
Ending Balance, shares at Dec. 31, 2011 | ' | 14,470 | ' | ' | ' | 4,439 | ' | ' | ' |
Issuance of stock, net of issuance costs | ' | ' | ' | 34,294 | 19,902 | ' | ' | ' | ' |
Issuance of stock, shares | ' | ' | ' | 2,805 | 1,478 | ' | ' | ' | ' |
Issuance of common stock from exercise of vested stock options and vesting of early exercised options | 759 | ' | ' | ' | ' | ' | 759 | ' | ' |
Issuance of common stock from exercise of vested stock options and vesting of early exercised options, shares | 518 | ' | ' | ' | ' | 500 | ' | ' | ' |
Issuance of common stock from stock purchase agreements | 500 | ' | ' | ' | ' | ' | 500 | ' | ' |
Issuance of common stock from stock purchase agreements, shares | ' | ' | ' | ' | ' | 84 | ' | ' | ' |
Redemption of common stock | -4,488 | ' | ' | ' | ' | ' | -4,488 | ' | ' |
Redemption of common stock, shares | ' | ' | ' | ' | ' | -365 | ' | ' | ' |
Stock-based compensation expense | 4,948 | ' | ' | ' | ' | ' | 4,948 | ' | ' |
Compensation expense from issuance of warrants | 60 | ' | ' | ' | ' | ' | 60 | ' | ' |
Issuance of warrants in connection with debt agreement | 213 | ' | ' | ' | ' | ' | 213 | ' | ' |
Stock-based compensation tax benefits | 192 | ' | ' | ' | ' | ' | 192 | ' | ' |
Net loss and comprehensive loss | -26,482 | ' | ' | ' | ' | ' | ' | -26,482 | ' |
Ending Balance at Dec. 31, 2012 | -72,706 | 105,710 | ' | ' | ' | 5 | 4,638 | -77,349 | ' |
Ending Balance, shares at Dec. 31, 2012 | ' | 18,753 | ' | ' | ' | 4,658 | ' | ' | ' |
Issuance of stock, net of issuance costs | 109,307 | ' | ' | ' | ' | 8 | 109,299 | ' | ' |
Issuance of stock, shares | ' | ' | ' | ' | ' | 8,625 | ' | ' | ' |
Conversion of convertible preferred stock into common stock | 105,710 | -105,710 | ' | ' | ' | 19 | 105,691 | ' | ' |
Conversion of convertible preferred stock into common stock, shares | ' | -18,753 | ' | ' | ' | 18,753 | ' | ' | ' |
Conversion of warrant to purchase convertible preferred stock into warrant to purchase common stock | 745 | ' | ' | ' | ' | ' | 745 | ' | ' |
Conversion of warrant to purchase convertible preferred stock into warrant to purchase common stock, shares | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of common stock from exercise of vested stock options and vesting of early exercised options | 1,572 | ' | ' | ' | ' | 1 | 1,571 | ' | ' |
Issuance of common stock from exercise of vested stock options and vesting of early exercised options, shares | 618 | ' | ' | ' | ' | 703 | ' | ' | ' |
Issuance of common stock from cashless exercise of warrants | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issuance of common stock from cashless exercise of warrants, shares | ' | ' | ' | ' | ' | 68 | ' | ' | ' |
Issuance of common stock under employee stock purchase plan | 1,231 | ' | ' | ' | ' | ' | 1,231 | ' | ' |
Issuance of common stock under employee stock purchase plan, shares | ' | ' | ' | ' | ' | 146 | ' | ' | ' |
Stock-based compensation expense | 5,218 | ' | ' | ' | ' | ' | 5,218 | ' | ' |
Stock-based compensation tax benefits | 119 | ' | ' | ' | ' | ' | 119 | ' | ' |
Net loss and comprehensive loss | -35,852 | ' | ' | ' | ' | ' | ' | -35,852 | ' |
Ending Balance at Dec. 31, 2013 | $115,344 | ' | ' | ' | ' | $33 | $228,512 | ($113,201) | ' |
Ending Balance, shares at Dec. 31, 2013 | ' | ' | ' | ' | ' | 32,953 | ' | ' | ' |
Consolidated_Statements_of_Con1
Consolidated Statements of Convertible Preferred Stock and Stockholders Deficit (Parenthetical) (USD $) | 12 Months Ended | |||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2012 |
Series E [Member] | Series F [Member] | Series F-1 [Member] | ||
Issuance of stock, issuance costs | ' | $102 | $194 | $98 |
Issuance of common stock in connection with initial public offering, issuance costs | $11,451 | ' | ' | ' |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Operating activities | ' | ' | ' |
Net loss | ($35,852) | ($26,482) | ($17,423) |
Adjustments to reconcile net loss to net cash used in operating activities | ' | ' | ' |
Depreciation | 4,722 | 2,642 | 1,344 |
Amortization of internal-use software | 1,156 | 525 | 456 |
Loss (gain) on disposal of property and equipment | 10 | -7 | 65 |
Noncash interest expense related to warrants issued in connection with debt | 251 | 159 | 56 |
Noncash expense related to warrants issued in connection with service agreement | ' | 60 | 49 |
Change in the valuation of outstanding preferred stock warrants | 238 | 362 | 73 |
Stock-based compensation related to stock option grants | 5,218 | 2,358 | 697 |
Stock-based compensation related to preferred stock financing | ' | 2,590 | ' |
Provision for bad debt | 359 | 296 | 289 |
Deferred income tax benefit | -91 | -108 | ' |
Excess tax benefits from stock-based award activities | -119 | -192 | ' |
Other noncash expenses | 245 | 292 | 211 |
Changes in operating assets and liabilities | ' | ' | ' |
Accounts receivable | -2,392 | -3,674 | -5,452 |
Prepaid expenses and other current assets | -881 | -550 | -58 |
Other assets | -524 | -55 | -291 |
Accounts payable | 75 | -208 | -54 |
Deferred revenue | 1,948 | 445 | -46 |
Accrued expenses and other liabilities | 2,240 | 2,452 | 3,594 |
Net cash used in operating activities | -23,397 | -19,095 | -16,490 |
Investing activities | ' | ' | ' |
Purchases of property and equipment | -5,023 | -5,507 | -2,332 |
Capitalization of internally developed software | -3,216 | -1,743 | -1,028 |
Net cash used in investing activities | -8,239 | -7,250 | -3,360 |
Financing activities | ' | ' | ' |
Proceeds from issuance of common stock in initial public offering, net of issuance costs | 109,414 | -107 | ' |
Proceeds from issuance of note payable, net of issuance costs | 1,667 | 8,631 | 5,529 |
Repayment of note payable | -9,660 | -4,334 | -2,012 |
Redemption of common stock | ' | -4,488 | ' |
Redemption of unvested shares subject to repurchase | -77 | -48 | ' |
Proceeds from issuance of convertible, preferred stock, net of issuance costs | ' | 54,196 | 15,934 |
Proceeds from common stock purchase agreements | ' | 500 | ' |
Proceeds from exercise of common stock warrants | ' | ' | 155 |
Proceeds from exercise of common stock options | 1,541 | 1,624 | 791 |
Proceeds from employee stock purchase plan | 1,499 | ' | ' |
Excess tax benefits from stock-based award activities | 119 | 192 | ' |
Net cash provided by financing activities | 104,503 | 56,166 | 20,397 |
Net increase in cash and cash equivalents | 72,867 | 29,821 | 547 |
Cash and cash equivalents | ' | ' | ' |
Beginning of period | 31,540 | 1,719 | 1,172 |
End of period | 104,407 | 31,540 | 1,719 |
Supplemental disclosures of other cash flow information | ' | ' | ' |
Cash paid for interest | 201 | 453 | 264 |
Cash paid for taxes | 276 | 176 | 8 |
Supplemental disclosure of noncash investing and financing activities | ' | ' | ' |
Conversion of convertible preferred stock to common stock | 105,710 | ' | ' |
Acquisition of equipment through capital lease | 3,167 | ' | ' |
Conversion of warrant to purchase convertible preferred stock to common stock warrant | 745 | ' | ' |
Accounts payable related purchases of property and equipment | 208 | 533 | 301 |
Accrued but unpaid debt issuance costs | 38 | 57 | ' |
Unpaid deferred initial public offering costs | ' | 944 | ' |
Other receivables for stock option exercises | ' | $49 | ' |
Background
Background | 12 Months Ended |
Dec. 31, 2013 | |
Accounting Policies [Abstract] | ' |
Background | ' |
1. Background | |
Marin Software Incorporated (the “Company”) was incorporated in Delaware in March 2006. The Company provides a leading cloud-based Revenue Acquisition Management platform, offering an integrated digital advertising management solution for search, display, social and mobile advertising channels. The Company’s platform helps advertisers and agencies improve financial performance, realize efficiencies and time savings, and make better business decisions. The Company’s corporate headquarters are located in San Francisco, California, and the Company has additional offices in the following locations: New York, Chicago, Austin, Portland, Mountain View, London, Dublin, Hamburg, Paris, Tokyo, Singapore, Sydney, and Shanghai. | |
On March 27, 2013, the Company closed its initial public offering (“IPO”) of 7,500 shares of its common stock sold by the Company. The public offering price of the shares sold in the IPO was $14.00 per share. The total gross proceeds from the IPO to the Company were $105,000. After deducting underwriting discounts and commissions and IPO expenses payable by the Company, the aggregate net proceeds totaled $94,659. On April 11, 2013, the underwriters of the IPO fully exercised the over-allotment option granted to them. As a result, the Company issued an additional 1,125 shares for net proceeds of $14,648. |
Summary_of_Significant_Account
Summary of Significant Accounting Policies | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Accounting Policies [Abstract] | ' | ||||||||||||
Summary of Significant Accounting Policies | ' | ||||||||||||
2. Summary of Significant Accounting Policies | |||||||||||||
Principles of Consolidation | |||||||||||||
The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All intercompany accounts and transactions have been eliminated upon consolidation. | |||||||||||||
Accounting Estimates | |||||||||||||
The preparation of financial statements in conformity with accounting principles generally accepted in the United States (“GAAP”) requires management to make certain estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. The Company is subject to uncertainties such as the impact of future events, economic and political factors and changes in the Company’s business environment; therefore, actual results could differ from these estimates. Accordingly, the accounting estimates used in the preparation of the Company’s financial statements will change as new events occur, as more experience is acquired, as additional information is obtained and as the Company’s operating environment changes. Changes in estimates are made when circumstances warrant. Such changes in estimates and refinements in estimation methodologies are reflected in reported results of operations and if material, the effects of changes in estimates are disclosed in the notes to the financial statements. Significant estimates and assumptions by management affect the allowances for doubtful accounts and customer credits, the carrying value of long-lived assets, the useful lives of long-lived assets, the provision for income taxes and related deferred taxes, stock-based compensation and the fair value of the Company’s common stock and preferred stock warrants. | |||||||||||||
Certain Significant Risks and Uncertainties | |||||||||||||
The Company operates in a rapidly changing environment that involves a number of risks, some of which are beyond the Company’s control that could have a material adverse effect on the Company’s business, operating results, and financial condition. These risks include, among others, the Company’s: history of losses and ability to achieve profitability in the future; highly competitive environment; ability to maintain and increase usage rate of the Company’s platform; and ability to increase demand for its solutions. | |||||||||||||
Concentration of Credit Risk | |||||||||||||
Financial instruments that potentially subject the Company to concentrations of credit risk consist of cash, cash equivalents and accounts receivable. The Company’s cash and cash equivalents are placed with high-credit-quality financial institutions and issuers, and at times exceed federally insured limits. The Company limits its concentration of risk in cash equivalents and short-term investments by diversifying its investments among a variety of industries and issuers and by limiting the average maturity to one year or less. The Company has not experienced any loss relating to cash and cash equivalents in these accounts. The Company performs periodic credit evaluations of its customers and generally does not require collateral. | |||||||||||||
As of December 31, 2013 and 2012, no single customer accounted for greater than 10% of net accounts receivable. No single customer accounted for greater than 10% of consolidated revenues during the years ended December 31, 2013, 2012 and 2011. | |||||||||||||
Cash and Cash Equivalents | |||||||||||||
The Company considers all highly liquid investments with an original or remaining maturity from the Company’s date of purchase of 90 days or less to be cash equivalents. Deposits held with financial institutions are likely to exceed the amount of insurance on these deposits. Cash equivalents consist of money market funds, which are readily convertible into cash and are stated at cost, which approximates fair market value. Cash equivalents were $98,987 and $19,930 as of December 31, 2013 and 2012, respectively. | |||||||||||||
Fair Value of Financial Instruments | |||||||||||||
The Company’s financial instruments, including cash equivalents, accounts receivable and accounts payable are carried at cost, which approximates fair value because of the short-term nature of those instruments. The carrying value of the preferred stock warrant liability (Note 5) represents fair value. Based on borrowing rates available to the Company for loans with similar terms and maturities, the carrying value of borrowings approximates fair value (Level 2 within the fair value hierarchy). | |||||||||||||
The Company measures and reports certain financial assets at fair value on a recurring basis, including its investments in money market funds. The fair value hierarchy prioritizes the inputs into three broad levels: | |||||||||||||
Level 1 | Inputs are unadjusted quoted prices in active markets for identical assets or liabilities. | ||||||||||||
Level 2 | Inputs are quoted prices for similar assets and liabilities in active markets or inputs that are observable for the asset or liability, either directly or indirectly through market corroboration, for substantially the full term of the financial instrument. | ||||||||||||
Level 3 | Inputs are unobservable inputs based on the Company’s assumptions. | ||||||||||||
A financial instrument’s level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. | |||||||||||||
Allowance for Doubtful Accounts and Revenue Credits | |||||||||||||
The allowance for doubtful accounts reflects the Company’s best estimate of probable losses inherent in the Company’s receivables portfolio determined on the basis of historical experience, specific allowances for known troubled accounts and other currently available evidence. The Company has not experienced significant credit losses from its accounts receivable. The Company performs a regular review of its customers’ payment histories and associated credit risks and it does not require collateral from its customers. Certain contracts with advertising agencies contain sequential liability provisions whereby the agency does not have an obligation to pay the Company until payment is received from the agency’s customers. In these circumstances, the Company evaluates the credit worthiness of the agency’s customers, in addition to the agency itself. As of December 31, 2013 and 2012, the Company recorded an allowance for doubtful accounts in the amount of $417 and $277, respectively. The following are changes in the allowance for doubtful accounts during 2013, 2012 and 2011, respectively. | |||||||||||||
Years Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Balances at beginning of period | $ | 277 | $ | 196 | $ | — | |||||||
Additions | 359 | 296 | 289 | ||||||||||
Write-offs | (219 | ) | (215 | ) | (93 | ) | |||||||
Balances at end of period | $ | 417 | $ | 277 | $ | 196 | |||||||
From time to time, the Company provides credits to customers and an allowance is made based on historical credit activity. As of December 31, 2013 and 2012, the Company recorded an allowance for potential customer credits in the amount of $389 and $452, respectively. | |||||||||||||
Property and Equipment | |||||||||||||
Property and equipment are stated at historical cost less accumulated depreciation and amortization. Depreciation and amortization are computed using the straight-line method over the estimated useful lives of the related assets. | |||||||||||||
The useful lives of the property and equipment are as follows: | |||||||||||||
Computer equipment | 3 to 5 years | ||||||||||||
Office equipment, furniture and fixtures | 3 to 5 years | ||||||||||||
Software | 3 years | ||||||||||||
Leasehold improvements | Shorter of useful life or lease term | ||||||||||||
Upon retirement or sale, the cost and related accumulated depreciation are removed from the balance sheet and the resulting gain or loss is reflected in operations. Major additions and improvements are capitalized while repairs and maintenance that do not extend the life of the asset are charged to operations as incurred. Depreciation and amortization expense is allocated to both cost of revenues and operating expenses. | |||||||||||||
Internal Use Software | |||||||||||||
Costs incurred in the development phase are capitalized and amortized over the product’s estimated useful life, which is three years. The Company expenses all costs incurred that relate to planning and post implementation phases of development. Capitalized costs related to internal use software under development are treated as construction in progress until the program, feature or functionality is ready for its intended use, at which time amortization commences. For 2013, 2012 and 2011 the Company capitalized $3,216, $1,743, and $1,028 of software development costs related to software for internal use, respectively. Amortization of software developed for internal use was $1,156, $525, and $456 for 2013, 2012 and 2011, respectively. As of December 31, 2013 and 2012 unamortized internal use software development costs totaled $4,236 and $2,176, respectively. Amortization of internal use software is reflected in cost of revenues. Costs associated with minor enhancements and maintenance are expensed as incurred. | |||||||||||||
As of January 1, 2012, the Company revised the estimated useful life of internal use software from two years to three years based on an evaluation of the change in use, maintenance and replacement practices of the Company’s internally developed software and the duration over which the software is expected to be utilized. As compared to amortization over a two year period, the revision resulted in a reduction of the amortization of internal use software recorded in cost of revenues of $303 (or $0.07 per share, basic and diluted) during 2012. | |||||||||||||
Impairment of Long-Lived Assets | |||||||||||||
The Company evaluates long-lived assets for potential impairment whenever adverse events or changes in circumstances or business climate indicate that expected undiscounted future cash flows related to such long-lived assets may not be sufficient to support the net book value of such assets. An impairment exists when the carrying value of a long-lived asset exceeds its fair value. An impairment loss is recognized only if the carrying value of a long-lived asset is not recoverable and exceeds its fair value. The carrying value of a long-lived asset is not recoverable if it exceeds the sum of the undiscounted cash flows expected to result from the use and eventual disposition of the asset. There were no such impairment losses during 2013, 2012 or 2011. | |||||||||||||
Operating Leases | |||||||||||||
The Company’s operating lease agreements include provisions for tenant improvement allowances, certain rent holidays and escalations in the base price of the rent payment. The Company defers tenant improvement allowances and amortizes the balance as a reduction to rent expense over the lease term. The Company records rent holidays and rent escalations on a straight-line basis over the lease term. Deferred rent is included in accrued payroll and other expenses in the accompanying consolidated balance sheets. | |||||||||||||
Freestanding Preferred Stock Warrants | |||||||||||||
Upon the consummation of the Company’s IPO, freestanding warrants related to the Company’s convertible preferred stock converted into warrants to purchase common stock. The preferred stock warrants were classified as liabilities on the Company’s December 31, 2012 consolidated balance sheet. Upon conversion, the liability recorded for the preferred stock warrants was reclassified to additional paid-in capital. When classified as liabilities, the preferred stock warrants were subject to reassessment at each balance sheet date, and any change in fair value was recognized as a component of other income (expenses), net. The Company adjusted the liability for changes in fair value until the preferred stock warrants were converted into warrants to purchase common stock. | |||||||||||||
Revenue Recognition | |||||||||||||
The Company generates revenues principally from subscriptions to its platform either directly with advertisers or with advertising agencies. The Company’s subscription agreements are generally one year or longer in length. The Company’s subscription fee under most contracts is variable based on the value of the advertising spend that the Company’s advertisers manage through the Company’s platform and is generally invoiced on a monthly basis. Contracts with direct advertisers and certain contracts with advertising agencies also include a minimum monthly fee that is payable over the duration of the contract. The Company’s customers do not have the right to take possession of the software supporting the application service at any time, nor do the arrangements contain general rights of return. The Company commences revenue recognition for both direct advertisers and advertising agencies when all of the following conditions are met: | |||||||||||||
• | persuasive evidence of an arrangement exists; | ||||||||||||
• | the Company’s platform is made available to the customer; | ||||||||||||
• | the fee is fixed or determinable, and; | ||||||||||||
• | collection is reasonably assured. | ||||||||||||
The Company recognizes the minimum fee for both direct advertisers and advertising agencies, where applicable, over the duration of the contract, commencing on the date that the Company’s platform is made available to the customer, provided revenues recognized do not exceed amounts that are invoiced and due. The variable fee, which is based on a percentage of the value of the advertising spend managed through the Company’s platform, is recognized once the amount is fixed or determinable, which is generally on a monthly basis concurrent with the issuance of the customer invoice. Signed contracts are used as evidence of an arrangement. The Company assesses collectability based on a number of factors such as past collection history with the customer and creditworthiness of the customer. Certain agreements with advertising agencies also contain sequential liability provisions, which provide that the agency has no obligation to pay the Company until the agency receives payment from its customers. In these circumstances, the Company evaluates the credit worthiness of the agency’s customers, in addition to the agency itself, to conclude whether or not collectability is reasonably assured. If the Company determines collectability is not reasonably assured, the Company defers the revenue recognition until collectability becomes reasonably assured. | |||||||||||||
In October 2009, the Financial Accounting Standards Board (“FASB”) ratified authoritative accounting guidance regarding revenue recognition for arrangements with multiple deliverables effective for fiscal periods beginning on or after June 15, 2010. The Company adopted the new guidance on a prospective basis for fiscal 2011. Professional services and training, when sold with the Company’s platform subscription services, are accounted for separately when those services have standalone value. In determining whether professional services and training services can be accounted for separately from subscription services, the Company considers the following factors: availability of the services from other vendors; the nature of the services; the dependence of the subscription services on the customer’s decision to buy the professional services; and whether the Company sells the Company’s subscription services without professional services. If the deliverables have stand-alone value, the Company accounts for each deliverable separately and revenues are recognized for the respective deliverables as they are delivered. If one or more of the deliverables do not have stand-alone value, the deliverables that do not have stand-alone value are combined with the final deliverables within the arrangement and treated as a single unit of accounting. Revenues for arrangements treated as a single unit of accounting are recognized over the period of the contract commencing upon delivery of the final deliverable. As of December 31, 2013, the Company did not have stand-alone value for the professional services and training services. This is because the Company includes professional services and training services with the Company’s subscription services and those services are not available from other vendors. | |||||||||||||
Cost of Revenues | |||||||||||||
Cost of revenues primarily consists of costs related to hosting the Company’s cloud-based platform, providing implementation and ongoing customer support, data communications expenses, salaries and benefits of operations and support personnel, software license fees, allocated overhead, amortization expense associated with capitalized internal use software and property and equipment depreciation. | |||||||||||||
Stock-Based Compensation | |||||||||||||
Stock-based compensation is measured at grant date based on the fair value of the award and is expensed on a straight-line basis over the requisite service period. | |||||||||||||
Fair values of share-based payment awards are determined on the date of grant using an option-pricing model. The Company has selected the Black-Scholes option pricing model to estimate the fair value of its stock options awards to employees and non-employees. In applying the Black-Scholes option pricing model, the Company’s determination of the fair value of the share-based payment award on the date of grant is affected by the Company’s estimated fair value of Common Stock, as well as assumptions regarding a number of subjective variables. These variables include, but are not limited to, the Company’s expected stock price volatility over the term of the stock options and the optionholders’ actual and projected stock option exercise and pre-vesting employment termination behaviors. | |||||||||||||
For awards with graded vesting, the Company recognizes stock-based compensation expense over the requisite service period using the straight-line method, based on awards ultimately expected to vest. The Company estimates future forfeitures at the date of grant and revises the estimates, if necessary, in subsequent periods if actual forfeitures differ from those estimates. | |||||||||||||
Stock options issued to non-employees such as consultants are recorded at their fair value on the measurement date. The measurement of stock-based compensation is subject to periodic adjustment as the underlying equity instruments vest. The fair value of options granted to consultants is expensed when vested. The non-employee stock-based compensation expense was not material for all periods presented. | |||||||||||||
See Note 9 for further information. | |||||||||||||
Research and Development | |||||||||||||
Research and development costs are expensed as incurred, except for certain internal use software development costs, which may be capitalized as noted above. Research and development costs include salaries, stock-based compensation expense, benefits and other operating costs such as outside services, supplies and allocated overhead costs. | |||||||||||||
Advertising | |||||||||||||
Advertising costs are expensed as incurred and included in sales and marketing expense in the accompanying consolidated statements of operations. Advertising expense totaled $785, $632, and $359 for 2013, 2012 and 2011, respectively. | |||||||||||||
Foreign Currency Transactions and Remeasurement | |||||||||||||
For non-U.S. subsidiaries whose functional currency is the U.S. Dollar, transactions in foreign currencies are remeasured into U.S. Dollars at the rates of exchange in effect at the date of the transaction. Monetary assets and liabilities denominated in non-U.S. currencies are re-measured to U.S. dollars using current exchange rates in effect at the balance sheet date. Nonmonetary assets and liabilities are re-measured to U.S. dollars using historical exchange rates. Other accounts are re-measured to U.S. dollars using average exchange rates in effect during each period. Transaction gains and losses were not material for all periods presented and are included in other income (expenses), net, in the accompanying consolidated statements of operations. | |||||||||||||
Income Taxes | |||||||||||||
The Company accounts for income taxes using the asset and liability method. Under this method, deferred tax assets and liabilities are determined based on differences between the financial statement and tax basis of assets and liabilities and net operating loss and credit carryforwards using enacted tax rates in effect for the year in which the differences are expected to reverse. Valuation allowances are established when necessary to reduce deferred tax assets to the amounts expected to be realized. | |||||||||||||
The Company accounts for unrecognized tax benefits using a more-likely-than-not threshold for financial statement recognition and measurement of tax positions taken or expected to be taken in a tax return. The Company establishes a liability for tax-related uncertainties based on estimates of whether, and the extent to which, additional taxes will be due. The Company records an income tax liability, if any, for the difference between the benefit recognized and measured and the tax position taken or expected to be taken on the Company’s tax returns. To the extent that the assessment of such tax positions changes, the change in estimate is recorded in the period in which the determination is made. The liability is adjusted in light of changing facts and circumstances, such as the outcome of a tax audit. The provision for income taxes includes the impact of liability provisions and changes to the liability that are considered appropriate. The Company recognizes interest and penalties related to unrecognized tax benefits as income tax expense. As the Company maintained a full valuation allowance against its deferred tax assets in the United States, the adjustments resulted in no additional tax expense in 2013. Based on the Company’s assessment of many factors, the Company does not expect that changes in the liability for unrecognized tax benefits for the next twelve months will have a significant impact on the Company’s consolidated financial position or results of operations. | |||||||||||||
Recent Accounting Pronouncements | |||||||||||||
In July 2013, the Financial Accounting Standards Board (FASB) issued a new accounting standard update on the financial statement presentation of unrecognized tax benefits. The new guidance provides that a liability related to an unrecognized tax benefit would be presented as a reduction of a deferred tax asset for a net operating loss carryforward, a similar tax loss or a tax credit carryforward if such settlement is required or expected in the event the uncertain tax position is disallowed. The new guidance becomes effective for the Company on January 1, 2014 and it will be applied prospectively to unrecognized tax benefits that exist at the effective date with retrospective application permitted. The Company is currently assessing the impact of this new guidance. |
Balance_Sheet_Components
Balance Sheet Components | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Organization Consolidation And Presentation Of Financial Statements [Abstract] | ' | ||||||||
Balance Sheet Components | ' | ||||||||
3. Balance Sheet Components | |||||||||
The following table shows the components of property and equipment as of December 31, 2013 and 2012: | |||||||||
December 31, | |||||||||
2013 | 2012 | ||||||||
Computer equipment | $ | 16,314 | $ | 8,958 | |||||
Software | 7,690 | 4,268 | |||||||
Office equipment | 571 | 457 | |||||||
Furniture, fixtures and leasehold improvements | 1,861 | 1,742 | |||||||
26,436 | 15,425 | ||||||||
Less: Accumulated depreciation and amortization | (12,019 | ) | (6,201 | ) | |||||
$ | 14,417 | $ | 9,224 | ||||||
Depreciation and amortization expense for 2013, 2012 and 2011 was $5,878, $3,167, and $1,800, respectively. | |||||||||
The following table shows the components of accrued payroll and other expenses as of December 31, 2013 and 2012: | |||||||||
December 31, | |||||||||
2013 | 2012 | ||||||||
Accrued salary and payroll related expenses | $ | 6,675 | $ | 4,771 | |||||
Accrued accounts payable | 2,773 | 3,882 | |||||||
Income tax payable | 434 | 109 | |||||||
Sales and use tax payable | 466 | 365 | |||||||
Other | 602 | 534 | |||||||
$ | 10,950 | $ | 9,661 | ||||||
Fair_Value_Measurements
Fair Value Measurements | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||||||||||
Fair Value Measurements | ' | ||||||||||||||||||||||||
4. Fair Value Measurements | |||||||||||||||||||||||||
Account balances measured at fair value on a recurring basis include the following as of December 31, 2013 and 2012: | |||||||||||||||||||||||||
December 30, | |||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Level 1 | Level 2 | Level 3 | ||||||||||||||||||||
Cash equivalents | |||||||||||||||||||||||||
Money market funds | $ | 98,987 | $ | — | $ | — | $ | 19,930 | $ | — | $ | — | |||||||||||||
Long-term liabilities | |||||||||||||||||||||||||
Preferred stock warrant obligation | — | — | — | — | — | 507 | |||||||||||||||||||
The following table presents the changes in the preferred stock warrant obligation measured and recorded at fair value on a recurring basis, using significant unobservable inputs (Level 3) during 2013, 2012 and 2011: | |||||||||||||||||||||||||
Years Ended December 31, | |||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||
Balances at beginning of period | $ | 507 | $ | 145 | $ | 72 | |||||||||||||||||||
Change in unrealized loss included in earnings | 238 | 362 | 73 | ||||||||||||||||||||||
Conversion to common stock warrant | (745 | ) | — | — | |||||||||||||||||||||
Balances at end of period | $ | — | $ | 507 | $ | 145 | |||||||||||||||||||
The Company’s cash equivalents as of December 31, 2013 and 2012 consisted of money market funds with original maturity dates of less than three months from the date of their respective purchase. Cash equivalents are classified as Level 1. The fair value of the Company’s money market funds approximated amortized cost and, as such, there were no unrealized gains or losses on money market funds as of December 31, 2013 and 2012. As of December 31, 2013 and 2012, amounts of $5,420 and $11,610, respectively, were held in bank deposits. |
Debt
Debt | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Debt Disclosure [Abstract] | ' | ||||||||
Debt | ' | ||||||||
5. Debt | |||||||||
In connection with a Loan and Security Agreement entered into with Silicon Valley Bank in 2008, the Company issued a warrant to purchase 51 shares of Series B preferred stock at $2.7563 per share. This warrant was to expire on the later date of October 30, 2018, or five years from the closing of the Company’s initial public offering. The fair value of the warrant was estimated at an aggregate of $72 using the Black-Scholes valuation model with the following assumptions: expected volatility of 53%, risk free interest rate of 4.85%, expected life of 10 years and no dividends. The fair value of the warrant was recorded as a discount to the loan and was amortized to interest expense over the loan term. | |||||||||
In January 2010, the Company signed an amendment to the Loan and Security Agreement, which provided for a revolving credit facility (the “Revolving Credit Facility”). In January 2011, the Company entered into an amendment to the Revolving Credit Facility pursuant to which Silicon Valley Bank agreed to extend an equipment advance facility of $2,000 (the “Equipment Advance Facility”). The Equipment Advance Facility may only be used to finance the purchase of equipment, accrues interest at a fixed per annum rate of 5.5%, will be repayable in 36 consecutive monthly installments of principal and interest and will expire on December 1, 2014. In December 2011, the Company entered into another amendment to its existing Revolving Credit Facility pursuant to which Silicon Valley Bank agreed to extend an additional equipment advance facility of $2,000 (the “Additional Equipment Advance Facility”). The Additional Equipment Advance Facility may only be used to finance the purchase of equipment. The Additional Equipment Advance Facility accrues interest at a fixed per annum rate of 5.5% and will be repayable in 36 consecutive monthly installments of principal and interest. The additional equipment advance facility expires September 1, 2015. As of December 31, 2013, the Company had withdrawn the full amount available under the Additional Equipment Advance Facility. In connection with the amendment, the Company issued a warrant to Silicon Valley Bank to purchase 37 shares of common stock at $2.70 per share. This warrant would expire on November 30, 2021. The fair value of the warrant was estimated at an aggregate of $139 using the Black-Scholes valuation model with the following assumptions: expected volatility of 57%; risk-free interest rate of 2.1%; expected life of 10 years; and no dividends. The fair value of the warrant was recorded as a discount to the loan and was amortized to interest expense over the loan term. | |||||||||
In December 2012, the Company entered into an amendment to its existing Revolving Credit Facility and Equipment Advance Facility pursuant to which Silicon Valley Bank agreed to extend an additional equipment advance facility of $3,000 (the “Supplemental Equipment Advance”). The Supplemental Equipment Advance may only be used to finance the purchase of equipment. The Supplemental Equipment Advance accrues interest at a fixed per annum rate of 3.0% and will be repayable in 33 consecutive monthly installments of principal and interest. The Supplemental Equipment Advance expires March 1, 2016. As of December 31, 2013, the Company had withdrawn the full amount available under the Supplemental Equipment Advance. In connection with the amendment, the Company issued a warrant to Silicon Valley Bank to purchase 27 shares of common stock at $12.15 per share. This warrant was to expire in December 2022. | |||||||||
The fair value of the warrant was estimated at an aggregate of $213 using the Black-Scholes valuation model with the following assumptions: expected volatility of 57%; risk-free interest rate of 1.65%; expected life of 10 years; and no dividends. The fair value of the warrant was recorded as a discount to the Revolving Credit Facility and will be amortized to interest expense over the facility term. Together with the Series B convertible preferred stock warrant and the common stock warrants issued, a total of $251, $159, and $56 was recognized as interest expense for 2013, 2012 and 2012, respectively, as a result of the amortization of the loan discounts. In May 2013, Silicon Valley Bank exercised the preferred stock warrant and common stock warrants using the cashless exercise feature, resulting in the net issuance of 68 shares of common stock. | |||||||||
In September 2013, the Company entered into an amendment to the Revolving Credit Facility pursuant to which Silicon Valley Bank agreed to increase the Revolving Credit Facility to the lesser of $15,000 or 80% of the Company’s eligible accounts receivable. Also, the expiration date of the Revolving Credit Facility was extended to July 31, 2015 and the annual interest rate was amended to 0.25% over the Prime Rate, payable on a monthly basis. Additionally, the Company’s obligation to meet certain financial covenants will be waived when the Company’s unrestricted cash balance exceeds $50,000. As of December 31, 2013, $12.0 million was available for withdrawal under the Revolving Credit Facility. The Revolving Credit Facility and Equipment Advance Facilities are all collateralized with all of the personal property of the Company, excluding shares of controlled foreign corporations, patents and copyrights. | |||||||||
In February 2013, the Company entered into a capital lease arrangement with an equipment manufacturer to finance the acquisition of computer equipment. The lease has an effective interest rate of 6.0% and is repayable in 36 consecutive equal monthly installments of principal and interest. At the end of the lease period, the Company has the option to purchase the equipment at the estimated fair market value. As of December 31, 2013, the net book value of the equipment under the capital lease was $2,495 and the remaining principal balance payable was $2,876. The capital lease is collateralized by the underlying computer equipment. | |||||||||
The Company’s outstanding balances under the Revolving Credit Facility, the Equipment Advance Facilities and the capital lease as of December 31, 2013 and 2012 are as follows: | |||||||||
December 31, | |||||||||
2013 | 2012 | ||||||||
Capital lease | $ | 2,598 | $ | — | |||||
Revolving Credit Facility | — | 7,225 | |||||||
Equipment Advance Facilities | 3,771 | 3,970 | |||||||
6,369 | 11,195 | ||||||||
Discount on long-term debt | (154 | ) | (380 | ) | |||||
$ | 6,215 | $ | 10,815 | ||||||
The maturities of debt as of December 31, 2013 are as follows: | |||||||||
Years Ending | |||||||||
2014 | $ | 3,253 | |||||||
2015 | 2,464 | ||||||||
2016 | 652 | ||||||||
6,369 | |||||||||
Less: | |||||||||
Current portion | (3,253 | ) | |||||||
Discount on long-term debt | (154 | ) | |||||||
Noncurrent portion of debt | $ | 2,962 | |||||||
Outstanding warrants to purchase the Company’s Series B preferred stock were classified as liabilities which were adjusted to fair value at each reporting period until the earlier of their exercise or expiration on the later date of October 30, 2018 or five years from the closing of the Company’s initial public offering, or the completion of a liquidation event, including the completion of an initial public offering, at which time the preferred stock warrant liability was automatically converted into a warrant to purchase shares of common stock and was reclassified to stockholders’ equity (deficit). The Company recorded a loss of $238, $362, and $73 for 2013, 2012 and 2011, respectively, within other income (expenses), net to adjust the warrant liability to fair value. The fair values were determined using Level 3 inputs under the GAAP fair value hierarchy. |
Convertible_Preferred_Stock
Convertible Preferred Stock | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Equity [Abstract] | ' | ||||||||||||||||
Convertible Preferred Stock | ' | ||||||||||||||||
6. Convertible Preferred Stock | |||||||||||||||||
Immediately prior to the close of the Company’s IPO, the Company’s outstanding convertible preferred stock (“Series A Stock”, “Series A-1 Stock”, “Series B Stock”, “Series C Stock”, “Series D Stock,” “Series E Stock,” “Series F Stock” and “Series F-1 Stock”) automatically converted at a rate of 1:1 into common stock. The following table summarizes information related to the Company’s convertible preferred stock prior to conversion into common stock: | |||||||||||||||||
Shares | Shares | Liquidation | Proceeds | ||||||||||||||
Authorized | Outstanding | Amount | Net of | ||||||||||||||
Issuance | |||||||||||||||||
Cost | |||||||||||||||||
Series A | 2,009 | 2,009 | $ | 2,248 | $ | 2,208 | |||||||||||
Series A-1 | 1,400 | 1,400 | 2,329 | 2,273 | |||||||||||||
Series B | 2,673 | 2,622 | 7,227 | 7,146 | |||||||||||||
Series C | 4,673 | 4,673 | 12,999 | 12,915 | |||||||||||||
Series D | 2,022 | 2,022 | 11,192 | 11,038 | |||||||||||||
Series E | 1,744 | 1,744 | 16,036 | 15,934 | |||||||||||||
Series F | 2,805 | 2,805 | 34,488 | 34,294 | |||||||||||||
Series F-1 | 1,478 | 1,478 | 20,000 | 19,902 | |||||||||||||
18,804 | 18,753 | $ | 106,519 | $ | 105,710 | ||||||||||||
Dividends | |||||||||||||||||
No dividends on the convertible preferred stock were declared by the Board of Directors from inception through their conversion into common stock. | |||||||||||||||||
Issuance of Preferred Stock | |||||||||||||||||
Concurrent with primary issuance of Series F Stock in January 2012, the Company also entered into an agreement with certain executives of the company to repurchase certain common stock held by them, whereby the Company repurchased 365 shares of their common stock in the Company at the Series F preferred stock issuance price of $12.30 per share for an aggregate price of $4,488. At the date of the repurchase, the aggregate estimated fair value of the repurchased common stock was $1,898. As a result of this arrangement, the Company recorded stock-based compensation expense of $2,590 during 2012. Of this amount, $364, $317 and $1,909 were recorded as sales and marketing, research and development and general and administrative expenses, respectively, in the accompanying statement of comprehensive loss for the year ended December 31, 2012. |
Common_Stock
Common Stock | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Equity [Abstract] | ' | ||||||||
Common Stock | ' | ||||||||
7. Common Stock | |||||||||
On February 12, 2013, the Company’s Board of Directors approved a Restated Certificate of Incorporation, which became effective upon the consummation of the Company’s initial public offering. The Restated Certificate of Incorporation amends the authorized share capital to 500,000 shares of common stock ($0.001 par value per share) and 10,000 shares of blank-check preferred stock ($0.001 par value per share). | |||||||||
As of December 31, 2013 and 2012, reserved shares of common stock are as follows: | |||||||||
December 31, | |||||||||
2013 | 2012 | ||||||||
Common stock issuable upon exercise of warrants | — | 114 | |||||||
Options available for future grant under stock option plans | 4,585 | 724 | |||||||
Options outstanding under stock option plans | 4,855 | 4,314 | |||||||
Shares available for future issuance under ESPP | 854 | — | |||||||
Conversion of convertible preferred stock | — | 18,804 | |||||||
10,294 | 23,956 | ||||||||
During 2012, the Company entered into common stock purchase agreements (“CSPAs”) with two members of the Board of Directors. In connection with the CSPAs, the Company sold 84 shares of common stock for a cumulative purchase price of $500. The underlying shares vest ratably on a monthly basis over 24 months. The CSPAs include a repurchase feature which provides the Company the option, but not the obligation, to repurchase any unvested shares upon termination at the original purchase price. As of December 31, 2013, 11 common shares issued under the CSPAs were unvested. |
Equity_Award_Plans
Equity Award Plans | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' | ||||||||||||||||
Equity Award Plans | ' | ||||||||||||||||
8. Equity Award Plans | |||||||||||||||||
In April 2006, the Company’s Board of Directors adopted and the stockholders approved the 2006 Stock Option Plan (“2006 Plan”). The 2006 Plan provides for the grant of incentive stock options under the federal tax laws and nonstatutory stock options. Only employees may receive incentive stock options, but nonstatutory stock options may be granted to employees, nonemployee directors and consultants. The stock options are exercisable at a price equal to the market value of the underlying shares of common stock on the date of the grant as determined by the Company’s board of directors. The term of options granted under the 2006 Plan may not exceed ten years. Certain options are eligible for exercise prior to vesting. Exercised but unvested shares are subject to repurchase by the Company at the initial exercise price upon termination of the optionee. The proceeds from the shares subject to repurchase are classified as a liability and reclassified to equity as the shares vest. Under the 2006 Plan’s early exercise feature, the Company may have had the opportunity to repurchase 180 and 214 shares as of December 31, 2013 and 2012, respectively. The Company records cash received from the exercise of unvested stock options as a long-term liability. As of December 31, 2013 and 2012, $1,215 and $1,332, respectively, has been recorded as a long-term liability on the condensed consolidated balance sheets. | |||||||||||||||||
In February 2013, the Company’s Board of Directors adopted and stockholders approved the 2013 Equity Incentive Plan (“2013 Plan”), under which 4,500 shares have been reserved for issuance. Additionally, all reserved and unissued shares under the 2006 Plan at the time the 2013 Plan became effective are eligible for issuance under the 2013 Plan. The 2013 Plan became effective on March 21, 2013, at which time the Company ceased to grant equity awards under the 2006 Plan. The 2013 Equity Incentive Plan authorizes the award of stock options, restricted stock awards, stock appreciation rights, restricted stock units, performance awards and stock bonuses to the Company’s employees, directors, consultants, independent contractors and advisors. On January 1 of each of the first 10 calendar years through 2023, the number of shares reserved under the 2013 Plan will automatically increase by an amount equal to 5% of the total outstanding shares as of the immediately preceding December 31, or such lesser number of shares as determined by the Company’s Board of Directors. | |||||||||||||||||
Under the 2006 Plan and the 2013 Plan, the term of options granted may not exceed ten years. Unless the terms of an optionee’s stock option agreement provide otherwise, if an optionee’s service relationship with the Company, or any of its affiliates, ceases for any reason other than disability or death, the optionee may exercise the vested portion of any options for three months after the date of such termination. If an optionee’s service relationship with the Company, or any of its affiliates, ceases due to disability or death (or an optionee dies within a certain period following cessation of service), the optionee or a beneficiary may exercise any vested options for a period of 12 months. In no event, however, may an option be exercised beyond the expiration of its term. | |||||||||||||||||
A summary of activity under the 2006 Plan and the 2013 Plan is as follows: | |||||||||||||||||
Options Outstanding | |||||||||||||||||
Number of | Weighted | Weighted | Aggregate | ||||||||||||||
Shares | Average | Average | Intrinsic | ||||||||||||||
Exercise | Remaining | Value | |||||||||||||||
Price | Contractual | ||||||||||||||||
Term | |||||||||||||||||
(in Years) | |||||||||||||||||
Balances at December 31, 2010 | 2,486 | $ | 1.14 | 5.54 | $ | 3,174 | |||||||||||
Options granted | 1,399 | 2.53 | 7.23 | ||||||||||||||
Options exercised | (607 | ) | 1.31 | — | |||||||||||||
Options forfeited and cancelled | (278 | ) | 1.65 | — | |||||||||||||
Balances at December 31, 2011 | 3,000 | 1.71 | 6.23 | $ | 10,575 | ||||||||||||
Options granted | 2,046 | 7.48 | 8.34 | ||||||||||||||
Options exercised | (518 | ) | 3.23 | — | |||||||||||||
Options forfeited and cancelled | (214 | ) | 3.66 | — | |||||||||||||
Balances at December 31, 2012 | 4,314 | 4.17 | 7.11 | $ | 34,439 | ||||||||||||
Options granted | 1,594 | 11.98 | 9.26 | ||||||||||||||
Options exercised | (618 | ) | 2.42 | — | |||||||||||||
Options forfeited and cancelled | (435 | ) | 8.6 | — | |||||||||||||
Balances at December 31, 2013 | 4,855 | $ | 6.56 | 7.85 | $ | 20,593 | |||||||||||
Options exercisable as of December 31, 2013 | 4,067 | $ | 5.75 | 7.58 | $ | 19,974 | |||||||||||
Options vested as of December 31, 2013 | 2,199 | $ | 3.32 | 6.78 | $ | 15,321 | |||||||||||
Options vested and expected to vest as of December 31, 2013 | 4,637 | $ | 6.4 | 7.8 | $ | 20,279 | |||||||||||
The intrinsic value of options exercised during 2013, 2012 and 2011 was $5,693, $2,266, and $545, respectively. The total estimated fair value of options vested during 2013, 2011 and 2012 was $3,110, $1,572, and $559, respectively. | |||||||||||||||||
The following table summarizes information about shares subject to stock options outstanding as of December 31, 2013: | |||||||||||||||||
Options Outstanding | |||||||||||||||||
Range of Exercise Prices | Number | Weighted | |||||||||||||||
Outstanding | Average | ||||||||||||||||
Remaining | |||||||||||||||||
Contractual | |||||||||||||||||
Life (in years) | |||||||||||||||||
$0.14 – $0.82 | 676 | 4.89 | |||||||||||||||
$2.39 – $2.70 | 1,245 | 7.07 | |||||||||||||||
$5.20 – $7.55 | 1,381 | 8.4 | |||||||||||||||
$9.61 – $11.82 | 333 | 9.61 | |||||||||||||||
$12.12 – $14.18 | 1,220 | 9.11 | |||||||||||||||
4,855 | |||||||||||||||||
In February 2013, the Company’s Board of Directors and stockholders approved the 2013 Employee Stock Purchase Plan (“2013 ESPP”), under which 1,000 shares have been reserved for issuance. The 2013 ESPP became effective on March 22, 2013. The 2013 ESPP provides generally for six-month purchase periods and the purchase price for shares of stock purchased under the 2013 Employee Stock Purchase Plan will be 85% of the lesser of the fair market value of the common stock on (i) the first trading day of the applicable offering period and (ii) the last trading day of each purchase period in the applicable offering period. On January 1 of each of the first 10 calendar years following the first offering date, the number of shares reserved under the 2013 Employee Stock Purchase Plan will automatically increase by an amount equal to 1% of the total outstanding shares as of immediately preceding December 31, but not to exceed 700 shares, unless the Board of Directors, in its discretion, determines to make a smaller increase. During 2013, 146 shares were issued under the 2013 ESPP. |
StockBased_Compensation
Stock-Based Compensation | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' | ||||||||||||
Stock-Based Compensation | ' | ||||||||||||
9. Stock-Based Compensation | |||||||||||||
For stock options and offerings under the 2013 ESPP granted by the Company, stock-based compensation cost is measured at grant date based on the fair value of the award and is expensed over the requisite service period. The Company recorded stock-based compensation of $5,218, $4,948, and $697 for 2013, 2012 and 2011, respectively. | |||||||||||||
The Company uses the Black-Scholes option pricing model to estimate the fair value of options. This model requires the input of highly subjective assumptions including the expected term of the option, expected stock price volatility and expected forfeitures. The Company used the following assumptions: | |||||||||||||
Years Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Dividend yield | — | — | — | ||||||||||
Expected volatility | 55 | % | 57 | % | 56.7 | % | |||||||
Risk-free interest rate | 1.27 | % | 0.95 | % | 2.02 | % | |||||||
Expected life of options (in years) | 6.25 | 6.25 | 6.25 | ||||||||||
Forfeiture rate | 7 | % | 3.2% – 7.0 | % | 3.0% – 8.0 | % | |||||||
Weighted-average grant-date fair value | $ | 6.41 | $ | 4.37 | $ | 1.61 | |||||||
Weighted-average grant-date exercise price | $ | 11.98 | $ | 7.48 | $ | 2.53 | |||||||
As the Company has limited historical option exercise data, the expected term of the stock options granted to employees under the 2006 Plan was calculated based on the simplified method. Under the simplified method, the expected term is equal to the average of an option’s weighted-average vesting period and its contractual term. Pursuant to the Securities and Exchange Commission (“SEC”) Staff Accounting Bulletin (“SAB”) No. 110, the Company is permitted to continue using the simplified method until sufficient information regarding exercise behavior, such as historical exercise data or exercise information from external sources, becomes available. The Company estimates the expected volatility of its common stock on the date of grant based on the historical stock volatilities of similar publicly-traded entities over a period equal to the expected terms of the options, as the Company does not have sufficient trading history to use the volatility of its own common stock. The Company has no history or expectation of paying cash dividends on its common stock. The risk-free interest rate is based on the U.S. Treasury yield for a term consistent with the expected life of the options in effect at the time of grant. | |||||||||||||
Cash proceeds from the exercise of stock options were $1,541, $1,624, and $791 during 2013, 2012 and 2011, respectively. | |||||||||||||
Compensation expense is recognized ratably over the requisite service period. As of December 31, 2013 and 2012, there was $11,597 and $8,563, respectively, of unrecognized compensation cost related to options, which is expected to be recognized over a weighted-average period of 2.7 and 2.9 years, respectively. | |||||||||||||
Prior to the consummation of the IPO, given the lack of an active public market for the Company’s outstanding Common and preferred stock, the Company’s Board of Directors established an estimate of fair value for these securities as well as for options and warrants to purchase these securities. The fair value of the Company’s common stock as used in the determination of the exercise price of stock options was estimated by the Board of Directors based on factors such as the liquidation preference, dividends and other rights of the outstanding preferred stock; recent financial and operating performance; the status of the Company’s development and sales efforts, revenue growth and additional objectives; the likelihood and proximity of an initial public offering; and the valuation of comparable companies that are publicly traded. | |||||||||||||
For awards that are expected to result in a tax deduction, a deferred tax asset is established as the Company recognizes compensation expense. If the tax deduction exceeds the cumulative recorded compensation expense, the tax benefit associated with the excess deduction is considered a windfall benefit. The excess tax benefit from share compensation plans is recorded in additional paid-in capital and classified as a financing cash flow on the consolidated statements of cash flows. The Company has elected to use the “with and without” approach as described in ASC 740-20, “Intraperiod Tax Allocation,” in determining the order in which tax attributes are utilized. As a result, the Company will only recognize a tax benefit from stock-based awards in additional paid-in capital if an incremental tax benefit is realized after all other tax attributes currently available to the Company have been utilized. | |||||||||||||
Employee Stock Purchase Plan | |||||||||||||
The Company estimates the fair value of purchase rights under the ESPP using the Black-Scholes valuation model. The fair value of each purchase right under the ESPP was estimated on the date of grant using the Black-Scholes option valuation model and the straight-line attribution approach with the following assumptions: | |||||||||||||
Dividend yield | — | ||||||||||||
Expected volatility | 51% – 56% | ||||||||||||
Risk-free interest rate | 0.81% – 1.64% | ||||||||||||
Expected life of options (in years) | 0.50 – 0.65 | ||||||||||||
Forfeiture rate | 7.00% |
Income_Taxes
Income Taxes | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||||||
Income Taxes | ' | ||||||||||||
10. Income Taxes | |||||||||||||
The components of the Company’s loss before provision for income taxes were as follows: | |||||||||||||
Years Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
United States of America | $ | (24,197 | ) | $ | (27,423 | ) | $ | (17,791 | ) | ||||
International | (11,163 | ) | 1,162 | 507 | |||||||||
$ | (35,360 | ) | $ | (26,261 | ) | $ | (17,284 | ) | |||||
The components of the provision for income taxes were as follows: | |||||||||||||
Years Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Current income tax provision | |||||||||||||
Federal | $ | — | $ | — | $ | — | |||||||
State | 26 | 19 | 8 | ||||||||||
Foreign | 557 | 310 | 131 | ||||||||||
Total current income tax provision | 583 | 329 | 139 | ||||||||||
Deferred income tax provision (benefit) | |||||||||||||
Federal | — | — | — | ||||||||||
State | — | — | — | ||||||||||
Foreign | (91 | ) | (108 | ) | — | ||||||||
Total deferred income tax provision (benefit) | (91 | ) | (108 | ) | — | ||||||||
Provision for income taxes | $ | 492 | $ | 221 | $ | 139 | |||||||
The Company has incurred operating losses and has recorded a full valuation allowance against its deferred tax assets (except for the deferred tax assets associated with the Company’s subsidiary in the United Kingdom) for all periods to date and, accordingly, has not recorded a provision for income taxes for any of the periods presented other than provisions for foreign and state income taxes. | |||||||||||||
The differences in the total provision for income taxes that would result from applying the 34% federal statutory rate to loss before provision for income taxes and the reported provision for income taxes were as follows: | |||||||||||||
Years Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Tax benefit at U.S. statutory rate | $ | (12,022 | ) | $ | (8,929 | ) | $ | (5,877 | ) | ||||
State income taxes, net of federal benefit | 19 | 19 | 8 | ||||||||||
Foreign income and withholding taxes | 4,382 | (184 | ) | (41 | ) | ||||||||
Stock-based compensation | 863 | 458 | 171 | ||||||||||
Change in valuation allowance | 4,437 | 9,082 | 5,839 | ||||||||||
Research and development credits | (776 | ) | (823 | ) | — | ||||||||
Uncertain tax positions | 1,499 | — | — | ||||||||||
Provision to return adjustments | 1,894 | 328 | — | ||||||||||
Other | 196 | 270 | 39 | ||||||||||
$ | 492 | $ | 221 | $ | 139 | ||||||||
Major components of the Company’s deferred tax assets as of December 31, 2013 and 2012 are as follows: | |||||||||||||
December 31, | |||||||||||||
2013 | 2012 | ||||||||||||
Current | |||||||||||||
Accruals and reserves | $ | 1,816 | $ | 1,509 | |||||||||
Stock-based compensation | 151 | 64 | |||||||||||
Other | (64 | ) | 41 | ||||||||||
Current deferred tax assets | 1,903 | 1,614 | |||||||||||
Valuation allowance | (1,853 | ) | (1,578 | ) | |||||||||
Total current deferred tax asset, net of valuation allowance | 50 | 36 | |||||||||||
Noncurrent | |||||||||||||
Net operating loss | 27,355 | 25,901 | |||||||||||
Accruals and reserves | 149 | 81 | |||||||||||
Research and development credits | 3,391 | 1,622 | |||||||||||
Stock-based compensation | 452 | 192 | |||||||||||
Property and equipment | 914 | 552 | |||||||||||
Other | 94 | — | |||||||||||
Noncurrent deferred tax assets | 32,355 | 28,348 | |||||||||||
Valuation allowance | (32,205 | ) | (28,276 | ) | |||||||||
Total non-current deferred tax asset, net of valuation allowance | $ | 150 | $ | 72 | |||||||||
As a result of certain realization requirements of accounting guidance for stock compensation, the table of deferred tax assets and liabilities shown above does not include certain deferred tax assets at December 31, 2013, and 2012 that arose directly from tax deductions related to equity compensation in excess of compensation recognized for financial reporting. Additional paid-in capital will be increased by $1,204 if and when such benefits are ultimately realized and reduce taxes payable. | |||||||||||||
The Code, as amended, imposes restrictions on the utilization of net operating losses in the event of an “ownership change” of a corporation. Accordingly, a company’s ability to use net operating losses may be limited as prescribed under Internal Revenue Code Section 382 (“IRC Section 382”). Events which may cause limitations in the amount of the net operating losses that the Company may use in any one year include, but are not limited to, a cumulative ownership change of more than 50% over a three-year period. Utilization of the federal and state net operating losses may be subject to substantial annual limitation due to the ownership change limitations provided by the IRC Section 382 and similar state provisions. An analysis was conducted through December 31, 2013 to determine whether an ownership change had occurred since inception. The analysis indicated that because an ownership change occurred in a prior year, federal and state net operating losses of $184 and $214, respectively, were significantly limited pursuant to IRC Section 382. In the event the Company has subsequent changes in ownership, net operating losses and research and development credit carryovers could be further limited and may expire unutilized. | |||||||||||||
As of December 31, 2013, the Company had federal and state net operating loss carryforwards of approximately $77,156 and $66,666, respectively. The federal net operating loss carryforward will begin expiring in 2026 and the state net operating loss carryforward will begin expiring in 2016. As of December 31, 2013, the Company had federal and state research and development credits of approximately $2,816 and $2,418, respectively. The federal research and development credits will begin expiring in 2026. The state research and development credits are not currently subject to expiration. On January 2, 2013, the American Taxpayer Relief Act of 2012 was signed into law. As part of the act, the research and development credit was retroactively extended. Accordingly, the Company did not record a federal research and development credit for 2012. While the applicable credit for 2012 was considered in 2013, no financial statement benefit was recorded as the Company applies a valuation allowance against the credit generated. | |||||||||||||
The Company has recorded a full valuation allowance against its otherwise recognizable deferred income tax assets as of December 31, 2013 and 2012 (except for the deferred income tax assets associated with the Company’s subsidiary in the United Kingdom). The Company has determined, after evaluating all positive and negative historical and prospective evidence, that it is more likely than not that the deferred tax assets will not be realized. The valuation allowance increased by $4,205, $10,951, and $6,840 during the years ended December 31, 2013, 2012 and 2011, respectively. | |||||||||||||
The Company files U.S. state and foreign income tax returns in jurisdictions with varying statutes of limitations. In the normal course of business, the Company is subject to examination by taxing authorities throughout the world. These audits include questioning the timing and amount of deduction, the nexus of income among various tax jurisdictions and compliance with state, local and foreign tax laws. The Company is not currently under any examination by the U.S. state or foreign tax authorities. Because of net operating loss and credit carry forwards, all of the Company’s tax years dating to inception in 2006 remain open to examination. | |||||||||||||
As of December 31, 2013 and 2012, the Company did not have any unrecognized tax benefits that if recognized would impact the annual effective tax rate. During 2013, 2012 and 2011, the Company did not recognize any interest or penalties related to unrecognized tax benefits. The aggregate changes in the balance of gross unrecognized tax benefits were as follows: | |||||||||||||
Beginning balance as of January 1, 2013 | $ | 508 | |||||||||||
Increase in balances related to tax positions taken during the current period | 580 | ||||||||||||
Ending balance as of December 31, 2013 | $ | 1,088 | |||||||||||
The Company does not anticipate that the amount of unrecognized tax benefits relating to tax positions existing at December 31, 2013 will significantly increase or decrease within the next twelve months. | |||||||||||||
U.S. income taxes and foreign withholding taxes associated with the repatriation of earnings of foreign subsidiaries were not provided for on a cumulative total of $1,184 of undistributed earnings for certain foreign subsidiaries as of December 31, 2013. The Company intends to reinvest these earnings indefinitely in its foreign subsidiaries. If these earnings were distributed to the United States in the form of dividends or otherwise, or if the shares of the relevant foreign subsidiaries were sold or otherwise transferred, the Company would be subject to additional U.S. income taxes (subject to an adjustment for foreign tax credits) and foreign withholding taxes. Determination of the amount of unrecognized deferred income tax liability related to these earnings is not practicable. |
Net_Loss_Per_Share_Available_t
Net Loss Per Share Available to Common Stockholders | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Earnings Per Share [Abstract] | ' | ||||||||||||
Net Loss Per Share Available to Common Stockholders | ' | ||||||||||||
11. Net Loss Per Share Available to Common Stockholders | |||||||||||||
Basic net loss per share available to common stockholders is calculated by dividing the net loss available to common stockholders by the weighted-average number of shares of common stock outstanding for the period. Net loss available to common stockholders is calculated using the two class method as net loss less the preferred stock dividend for the period less the amount of net loss, if any, allocated to the preferred stock based on weighted preferred stock outstanding during the period relative to total stock outstanding during the period. As the Company’s convertible preferred stockholders do not have the contractual obligations to share in the losses of the Company, no loss has been allocated to the convertible preferred stockholders in the determination of net loss available to common stockholders. The weighted-average number of shares of common stock used to calculate the Company’s basic net loss per share available to common stockholders excludes those shares subject to repurchase related to unvested common shares and stock options that were exercised prior to vesting as these shares are not deemed to be outstanding for accounting purposes until they vest. The diluted net loss per share of common stock is computed by dividing the net loss using the weighted-average number of shares of common stock, excluding common stock subject to repurchase, and, if dilutive, potential shares of common stock outstanding during the period. Potential shares of common stock consist of common stock subject to repurchase and stock options to purchase common stock and warrants to purchase convertible preferred stock (using the treasury stock method) and the conversion of the Company’s convertible preferred stock (using the “if converted” method). | |||||||||||||
The following table presents the calculation of basic and diluted net loss per share: | |||||||||||||
Years Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Numerator: | |||||||||||||
Net loss available to common stockholders | $ | (35,852 | ) | $ | (26,482 | ) | $ | (17,423 | ) | ||||
Denominator: | |||||||||||||
Weighted average number of shares, basic and diluted | 26,312 | 4,417 | 4,058 | ||||||||||
Net loss per share available to common stockholders | |||||||||||||
Basic and diluted net loss per common share available to common stockholders | $ | (1.36 | ) | $ | (6.00 | ) | $ | (4.29 | ) | ||||
The following table presents the potential common shares outstanding that were excluded from the computation of diluted net loss per share available to common stockholders for the periods presented because including them would have been anti-dilutive: | |||||||||||||
Years Ended | |||||||||||||
December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Convertible preferred stock | — | 18,753 | 14,470 | ||||||||||
Options to purchase common stock | 4,855 | 4,314 | 3,000 | ||||||||||
Common stock subject to repurchase | 180 | 284 | 291 | ||||||||||
Convertible preferred stock warrants | — | 51 | 51 | ||||||||||
Common stock warrants | — | 63 | 37 | ||||||||||
5,035 | 23,465 | 17,849 | |||||||||||
Segment_Reporting
Segment Reporting | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||
Segment Reporting | ' | ||||||||||||
12. Segment Reporting | |||||||||||||
The Company defines the term “chief operating decision maker” to be the Chief Executive Officer. The Chief Executive Officer reviews the financial information presented on a consolidated basis for purposes of allocating resources and evaluation of financial performance. Accordingly, the Company has determined that it operates as a single operating segment. | |||||||||||||
Revenues by geographic area, based on the billing location of the customer, were as follows: | |||||||||||||
Years Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
United States of America | $ | 52,725 | $ | 43,429 | $ | 26,673 | |||||||
International | 24,590 | 16,129 | 9,448 | ||||||||||
Total revenues, net | $ | 77,315 | $ | 59,558 | $ | 36,121 | |||||||
Long-lived assets by geographic area were as follows: | |||||||||||||
December 31, | |||||||||||||
2013 | 2012 | ||||||||||||
United States of America | $ | 14,050 | $ | 8,839 | |||||||||
International | 367 | 385 | |||||||||||
Total long-lived assets, net | $ | 14,417 | $ | 9,224 | |||||||||
Commitments_and_Contingencies
Commitments and Contingencies | 12 Months Ended | ||||
Dec. 31, 2013 | |||||
Commitments And Contingencies Disclosure [Abstract] | ' | ||||
Commitments and Contingencies | ' | ||||
13. Commitments and Contingencies | |||||
Operating Leases | |||||
Rent expense for 2013, 2012 and 2011 was $6,811, $4,741, and $2,373, respectively. | |||||
The Company has leased office space in San Francisco, London, Austin, Texas, Chicago, Dublin, Hamburg, Mountain View, California, New York, Paris, Portland, Oregon, Singapore, Sydney, Tokyo and Shanghai under noncancelable operating leases, which expire between 2014 and 2018. Additionally, the Company leases the space utilized for data center operations. | |||||
Future minimum lease payments for significant operating leases as of December 31, 2013 were as follows: | |||||
Years Ended | |||||
2014 | $ | 5,690 | |||
2015 | 2,270 | ||||
2016 | 717 | ||||
2017 | 735 | ||||
2018 | 124 | ||||
$ | 9,536 | ||||
Legal Matters | |||||
From time to time, the Company may be involved in lawsuits, claims, investigations and proceedings, consisting of intellectual property, commercial, employment and other matters, which arise in the ordinary course of business. In accordance with GAAP, the Company records a liability when it is both probable that a liability has been incurred and the amount of the loss can be reasonably estimated. These provisions are reviewed at least quarterly and adjusted to reflect the impact of negotiations, settlements, ruling, advice of legal counsel and other information and events pertaining to a particular case. Litigation is inherently unpredictable. If any unfavorable ruling were to occur in any specific period or if a loss becomes probable and estimable, there exists the possibility of a material adverse impact on the Company’s results of operations, financial position or cash flows. | |||||
Indemnification | |||||
The Company enters into standard indemnification agreements in the ordinary course of business. Pursuant to the agreements, each party may indemnify, defend and hold the other party harmless with respect to such claim, suit or proceeding brought against it by a third party alleging that the indemnifying party’s intellectual property infringes upon the intellectual property of the third party, or results from a breach of the indemnifying party’s representations and warranties or covenants, or that results from any acts of negligence or willful misconduct. The term of these indemnification agreements is generally perpetual any time after execution of the agreement. The maximum potential amount of future payments the Company could be required to make under these indemnification agreements is unlimited. Historically, the Company has not been obligated to make significant payments for these obligations and no liabilities have been recorded for these obligations on the consolidated balance sheets as of December 31, 2013 and 2012. | |||||
The Company also indemnifies its officers and directors for certain events or occurrences, subject to certain limits, while the officer or director is or was serving at the Company’s request in such capacity. The maximum amount of potential future indemnification is unlimited; however, the Company has a Directors and Officers insurance policy that limits its exposure and enables the Company to recover a portion of any future amounts paid. Historically, the Company has not been obligated to make any payments for these obligations and no liabilities have been recorded for these obligations on the consolidated balance sheets as of December 31, 2013 and 2012. | |||||
Other Contingencies | |||||
The Company is subject to claims and assessments from time to time in the ordinary course of business. The Company’s management does not believe that any such matters, individually or in the aggregate, will have a material adverse effect on the Company’s financial position, results of operations or cash flows. |
Employee_Benefit_Plans
Employee Benefit Plans | 12 Months Ended |
Dec. 31, 2013 | |
Postemployment Benefits [Abstract] | ' |
Employee Benefit Plans | ' |
14. Employee Benefit Plans | |
The Company sponsors a 401(k) defined contribution plan covering all employees in the United States. The Board of Directors determines contributions made by the Company annually. The Company made no contributions under this plan for 2013, 2012 and 2011. |
Related_Party_Transactions
Related Party Transactions | 12 Months Ended |
Dec. 31, 2013 | |
Related Party Transactions [Abstract] | ' |
Related Party Transactions | ' |
15. Related Party Transactions | |
In October 2013, the Company appointed James Barrese to the Board of Directors. Mr. Barrese is the Chief Technology Officer of PayPal, Inc,, which is a customer of the Company. During 2013 and 2012, the Company recorded total revenues of $163 and $79, respectively, through its subscription agreements with PayPal, Inc. and their affiliate eBay Inc. No revenue was recorded though subscription agreements with these entities during 2011. |
Subsequent_Events
Subsequent Events | 12 Months Ended |
Dec. 31, 2013 | |
Subsequent Events [Abstract] | ' |
Subsequent Events | ' |
16. Subsequent Events | |
Option Grants | |
Under the terms of the 2013 Plan and the 2013 ESPP, the shares available for issuance increased by 1,648 and 329, respectively, on January 1, 2014. In January and February 2014, the Board of Directors granted stock options to purchase 86 shares of common stock at an exercise price equal to the closing trading price per share on the date of the Board’s approval. The stock options generally vest over four years. |
Summary_of_Significant_Account1
Summary of Significant Accounting Policies (Policies) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Accounting Policies [Abstract] | ' | ||||||||||||
Principles of Consolidation | ' | ||||||||||||
Principles of Consolidation | |||||||||||||
The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All intercompany accounts and transactions have been eliminated upon consolidation. | |||||||||||||
Accounting Estimates | ' | ||||||||||||
Accounting Estimates | |||||||||||||
The preparation of financial statements in conformity with accounting principles generally accepted in the United States (“GAAP”) requires management to make certain estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. The Company is subject to uncertainties such as the impact of future events, economic and political factors and changes in the Company’s business environment; therefore, actual results could differ from these estimates. Accordingly, the accounting estimates used in the preparation of the Company’s financial statements will change as new events occur, as more experience is acquired, as additional information is obtained and as the Company’s operating environment changes. Changes in estimates are made when circumstances warrant. Such changes in estimates and refinements in estimation methodologies are reflected in reported results of operations and if material, the effects of changes in estimates are disclosed in the notes to the financial statements. Significant estimates and assumptions by management affect the allowances for doubtful accounts and customer credits, the carrying value of long-lived assets, the useful lives of long-lived assets, the provision for income taxes and related deferred taxes, stock-based compensation and the fair value of the Company’s common stock and preferred stock warrants. | |||||||||||||
Certain Significant Risks and Uncertainties | ' | ||||||||||||
Certain Significant Risks and Uncertainties | |||||||||||||
The Company operates in a rapidly changing environment that involves a number of risks, some of which are beyond the Company’s control that could have a material adverse effect on the Company’s business, operating results, and financial condition. These risks include, among others, the Company’s: history of losses and ability to achieve profitability in the future; highly competitive environment; ability to maintain and increase usage rate of the Company’s platform; and ability to increase demand for its solutions. | |||||||||||||
Concentration of Credit Risk | ' | ||||||||||||
Concentration of Credit Risk | |||||||||||||
Financial instruments that potentially subject the Company to concentrations of credit risk consist of cash, cash equivalents and accounts receivable. The Company’s cash and cash equivalents are placed with high-credit-quality financial institutions and issuers, and at times exceed federally insured limits. The Company limits its concentration of risk in cash equivalents and short-term investments by diversifying its investments among a variety of industries and issuers and by limiting the average maturity to one year or less. The Company has not experienced any loss relating to cash and cash equivalents in these accounts. The Company performs periodic credit evaluations of its customers and generally does not require collateral. | |||||||||||||
As of December 31, 2013 and 2012, no single customer accounted for greater than 10% of net accounts receivable. No single customer accounted for greater than 10% of consolidated revenues during the years ended December 31, 2013, 2012 and 2011. | |||||||||||||
Cash and Cash Equivalents | ' | ||||||||||||
Cash and Cash Equivalents | |||||||||||||
The Company considers all highly liquid investments with an original or remaining maturity from the Company’s date of purchase of 90 days or less to be cash equivalents. Deposits held with financial institutions are likely to exceed the amount of insurance on these deposits. Cash equivalents consist of money market funds, which are readily convertible into cash and are stated at cost, which approximates fair market value. Cash equivalents were $98,987 and $19,930 as of December 31, 2013 and 2012, respectively. | |||||||||||||
Fair Value of Financial Instruments | ' | ||||||||||||
Fair Value of Financial Instruments | |||||||||||||
The Company’s financial instruments, including cash equivalents, accounts receivable and accounts payable are carried at cost, which approximates fair value because of the short-term nature of those instruments. The carrying value of the preferred stock warrant liability (Note 5) represents fair value. Based on borrowing rates available to the Company for loans with similar terms and maturities, the carrying value of borrowings approximates fair value (Level 2 within the fair value hierarchy). | |||||||||||||
The Company measures and reports certain financial assets at fair value on a recurring basis, including its investments in money market funds. The fair value hierarchy prioritizes the inputs into three broad levels: | |||||||||||||
Level 1 | Inputs are unadjusted quoted prices in active markets for identical assets or liabilities. | ||||||||||||
Level 2 | Inputs are quoted prices for similar assets and liabilities in active markets or inputs that are observable for the asset or liability, either directly or indirectly through market corroboration, for substantially the full term of the financial instrument. | ||||||||||||
Level 3 | Inputs are unobservable inputs based on the Company’s assumptions. | ||||||||||||
A financial instrument’s level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. | |||||||||||||
Allowance for Doubtful Accounts and Revenue Credits | ' | ||||||||||||
Allowance for Doubtful Accounts and Revenue Credits | |||||||||||||
The allowance for doubtful accounts reflects the Company’s best estimate of probable losses inherent in the Company’s receivables portfolio determined on the basis of historical experience, specific allowances for known troubled accounts and other currently available evidence. The Company has not experienced significant credit losses from its accounts receivable. The Company performs a regular review of its customers’ payment histories and associated credit risks and it does not require collateral from its customers. Certain contracts with advertising agencies contain sequential liability provisions whereby the agency does not have an obligation to pay the Company until payment is received from the agency’s customers. In these circumstances, the Company evaluates the credit worthiness of the agency’s customers, in addition to the agency itself. As of December 31, 2013 and 2012, the Company recorded an allowance for doubtful accounts in the amount of $417 and $277, respectively. The following are changes in the allowance for doubtful accounts during 2013, 2012 and 2011, respectively. | |||||||||||||
Years Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Balances at beginning of period | $ | 277 | $ | 196 | $ | — | |||||||
Additions | 359 | 296 | 289 | ||||||||||
Write-offs | (219 | ) | (215 | ) | (93 | ) | |||||||
Balances at end of period | $ | 417 | $ | 277 | $ | 196 | |||||||
From time to time, the Company provides credits to customers and an allowance is made based on historical credit activity. As of December 31, 2013 and 2012, the Company recorded an allowance for potential customer credits in the amount of $389 and $452, respectively. | |||||||||||||
Property and Equipment | ' | ||||||||||||
Property and Equipment | |||||||||||||
Property and equipment are stated at historical cost less accumulated depreciation and amortization. Depreciation and amortization are computed using the straight-line method over the estimated useful lives of the related assets. | |||||||||||||
The useful lives of the property and equipment are as follows: | |||||||||||||
Computer equipment | 3 to 5 years | ||||||||||||
Office equipment, furniture and fixtures | 3 to 5 years | ||||||||||||
Software | 3 years | ||||||||||||
Leasehold improvements | Shorter of useful life or lease term | ||||||||||||
Upon retirement or sale, the cost and related accumulated depreciation are removed from the balance sheet and the resulting gain or loss is reflected in operations. Major additions and improvements are capitalized while repairs and maintenance that do not extend the life of the asset are charged to operations as incurred. Depreciation and amortization expense is allocated to both cost of revenues and operating expenses. | |||||||||||||
Internal Use Software | ' | ||||||||||||
Internal Use Software | |||||||||||||
Costs incurred in the development phase are capitalized and amortized over the product’s estimated useful life, which is three years. The Company expenses all costs incurred that relate to planning and post implementation phases of development. Capitalized costs related to internal use software under development are treated as construction in progress until the program, feature or functionality is ready for its intended use, at which time amortization commences. For 2013, 2012 and 2011 the Company capitalized $3,216, $1,743, and $1,028 of software development costs related to software for internal use, respectively. Amortization of software developed for internal use was $1,156, $525, and $456 for 2013, 2012 and 2011, respectively. As of December 31, 2013 and 2012 unamortized internal use software development costs totaled $4,236 and $2,176, respectively. Amortization of internal use software is reflected in cost of revenues. Costs associated with minor enhancements and maintenance are expensed as incurred. | |||||||||||||
As of January 1, 2012, the Company revised the estimated useful life of internal use software from two years to three years based on an evaluation of the change in use, maintenance and replacement practices of the Company’s internally developed software and the duration over which the software is expected to be utilized. As compared to amortization over a two year period, the revision resulted in a reduction of the amortization of internal use software recorded in cost of revenues of $303 (or $0.07 per share, basic and diluted) during 2012. | |||||||||||||
Impairment of Long-Lived Assets | ' | ||||||||||||
Impairment of Long-Lived Assets | |||||||||||||
The Company evaluates long-lived assets for potential impairment whenever adverse events or changes in circumstances or business climate indicate that expected undiscounted future cash flows related to such long-lived assets may not be sufficient to support the net book value of such assets. An impairment exists when the carrying value of a long-lived asset exceeds its fair value. An impairment loss is recognized only if the carrying value of a long-lived asset is not recoverable and exceeds its fair value. The carrying value of a long-lived asset is not recoverable if it exceeds the sum of the undiscounted cash flows expected to result from the use and eventual disposition of the asset. There were no such impairment losses during 2013, 2012 or 2011. | |||||||||||||
Operating Leases | ' | ||||||||||||
Operating Leases | |||||||||||||
The Company’s operating lease agreements include provisions for tenant improvement allowances, certain rent holidays and escalations in the base price of the rent payment. The Company defers tenant improvement allowances and amortizes the balance as a reduction to rent expense over the lease term. The Company records rent holidays and rent escalations on a straight-line basis over the lease term. Deferred rent is included in accrued payroll and other expenses in the accompanying consolidated balance sheets. | |||||||||||||
Freestanding Preferred Stock Warrants | ' | ||||||||||||
Freestanding Preferred Stock Warrants | |||||||||||||
Upon the consummation of the Company’s IPO, freestanding warrants related to the Company’s convertible preferred stock converted into warrants to purchase common stock. The preferred stock warrants were classified as liabilities on the Company’s December 31, 2012 consolidated balance sheet. Upon conversion, the liability recorded for the preferred stock warrants was reclassified to additional paid-in capital. When classified as liabilities, the preferred stock warrants were subject to reassessment at each balance sheet date, and any change in fair value was recognized as a component of other income (expenses), net. The Company adjusted the liability for changes in fair value until the preferred stock warrants were converted into warrants to purchase common stock. | |||||||||||||
Revenue Recognition | ' | ||||||||||||
Revenue Recognition | |||||||||||||
The Company generates revenues principally from subscriptions to its platform either directly with advertisers or with advertising agencies. The Company’s subscription agreements are generally one year or longer in length. The Company’s subscription fee under most contracts is variable based on the value of the advertising spend that the Company’s advertisers manage through the Company’s platform and is generally invoiced on a monthly basis. Contracts with direct advertisers and certain contracts with advertising agencies also include a minimum monthly fee that is payable over the duration of the contract. The Company’s customers do not have the right to take possession of the software supporting the application service at any time, nor do the arrangements contain general rights of return. The Company commences revenue recognition for both direct advertisers and advertising agencies when all of the following conditions are met: | |||||||||||||
• | persuasive evidence of an arrangement exists; | ||||||||||||
• | the Company’s platform is made available to the customer; | ||||||||||||
• | the fee is fixed or determinable, and; | ||||||||||||
• | collection is reasonably assured. | ||||||||||||
The Company recognizes the minimum fee for both direct advertisers and advertising agencies, where applicable, over the duration of the contract, commencing on the date that the Company’s platform is made available to the customer, provided revenues recognized do not exceed amounts that are invoiced and due. The variable fee, which is based on a percentage of the value of the advertising spend managed through the Company’s platform, is recognized once the amount is fixed or determinable, which is generally on a monthly basis concurrent with the issuance of the customer invoice. Signed contracts are used as evidence of an arrangement. The Company assesses collectability based on a number of factors such as past collection history with the customer and creditworthiness of the customer. Certain agreements with advertising agencies also contain sequential liability provisions, which provide that the agency has no obligation to pay the Company until the agency receives payment from its customers. In these circumstances, the Company evaluates the credit worthiness of the agency’s customers, in addition to the agency itself, to conclude whether or not collectability is reasonably assured. If the Company determines collectability is not reasonably assured, the Company defers the revenue recognition until collectability becomes reasonably assured. | |||||||||||||
In October 2009, the Financial Accounting Standards Board (“FASB”) ratified authoritative accounting guidance regarding revenue recognition for arrangements with multiple deliverables effective for fiscal periods beginning on or after June 15, 2010. The Company adopted the new guidance on a prospective basis for fiscal 2011. Professional services and training, when sold with the Company’s platform subscription services, are accounted for separately when those services have standalone value. In determining whether professional services and training services can be accounted for separately from subscription services, the Company considers the following factors: availability of the services from other vendors; the nature of the services; the dependence of the subscription services on the customer’s decision to buy the professional services; and whether the Company sells the Company’s subscription services without professional services. If the deliverables have stand-alone value, the Company accounts for each deliverable separately and revenues are recognized for the respective deliverables as they are delivered. If one or more of the deliverables do not have stand-alone value, the deliverables that do not have stand-alone value are combined with the final deliverables within the arrangement and treated as a single unit of accounting. Revenues for arrangements treated as a single unit of accounting are recognized over the period of the contract commencing upon delivery of the final deliverable. As of December 31, 2013, the Company did not have stand-alone value for the professional services and training services. This is because the Company includes professional services and training services with the Company’s subscription services and those services are not available from other vendors. | |||||||||||||
Cost of Revenues | ' | ||||||||||||
Cost of Revenues | |||||||||||||
Cost of revenues primarily consists of costs related to hosting the Company’s cloud-based platform, providing implementation and ongoing customer support, data communications expenses, salaries and benefits of operations and support personnel, software license fees, allocated overhead, amortization expense associated with capitalized internal use software and property and equipment depreciation. | |||||||||||||
Stock-Based Compensation | ' | ||||||||||||
Stock-Based Compensation | |||||||||||||
Stock-based compensation is measured at grant date based on the fair value of the award and is expensed on a straight-line basis over the requisite service period. | |||||||||||||
Fair values of share-based payment awards are determined on the date of grant using an option-pricing model. The Company has selected the Black-Scholes option pricing model to estimate the fair value of its stock options awards to employees and non-employees. In applying the Black-Scholes option pricing model, the Company’s determination of the fair value of the share-based payment award on the date of grant is affected by the Company’s estimated fair value of Common Stock, as well as assumptions regarding a number of subjective variables. These variables include, but are not limited to, the Company’s expected stock price volatility over the term of the stock options and the optionholders’ actual and projected stock option exercise and pre-vesting employment termination behaviors. | |||||||||||||
For awards with graded vesting, the Company recognizes stock-based compensation expense over the requisite service period using the straight-line method, based on awards ultimately expected to vest. The Company estimates future forfeitures at the date of grant and revises the estimates, if necessary, in subsequent periods if actual forfeitures differ from those estimates. | |||||||||||||
Stock options issued to non-employees such as consultants are recorded at their fair value on the measurement date. The measurement of stock-based compensation is subject to periodic adjustment as the underlying equity instruments vest. The fair value of options granted to consultants is expensed when vested. The non-employee stock-based compensation expense was not material for all periods presented. | |||||||||||||
See Note 9 for further information. | |||||||||||||
Research and Development | ' | ||||||||||||
Research and Development | |||||||||||||
Research and development costs are expensed as incurred, except for certain internal use software development costs, which may be capitalized as noted above. Research and development costs include salaries, stock-based compensation expense, benefits and other operating costs such as outside services, supplies and allocated overhead costs. | |||||||||||||
Advertising | ' | ||||||||||||
Advertising | |||||||||||||
Advertising costs are expensed as incurred and included in sales and marketing expense in the accompanying consolidated statements of operations. Advertising expense totaled $785, $632, and $359 for 2013, 2012 and 2011, respectively. | |||||||||||||
Foreign Currency Transactions and Remeasurement | ' | ||||||||||||
Foreign Currency Transactions and Remeasurement | |||||||||||||
For non-U.S. subsidiaries whose functional currency is the U.S. Dollar, transactions in foreign currencies are remeasured into U.S. Dollars at the rates of exchange in effect at the date of the transaction. Monetary assets and liabilities denominated in non-U.S. currencies are re-measured to U.S. dollars using current exchange rates in effect at the balance sheet date. Nonmonetary assets and liabilities are re-measured to U.S. dollars using historical exchange rates. Other accounts are re-measured to U.S. dollars using average exchange rates in effect during each period. Transaction gains and losses were not material for all periods presented and are included in other income (expenses), net, in the accompanying consolidated statements of operations. | |||||||||||||
Income Taxes | ' | ||||||||||||
Income Taxes | |||||||||||||
The Company accounts for income taxes using the asset and liability method. Under this method, deferred tax assets and liabilities are determined based on differences between the financial statement and tax basis of assets and liabilities and net operating loss and credit carryforwards using enacted tax rates in effect for the year in which the differences are expected to reverse. Valuation allowances are established when necessary to reduce deferred tax assets to the amounts expected to be realized. | |||||||||||||
The Company accounts for unrecognized tax benefits using a more-likely-than-not threshold for financial statement recognition and measurement of tax positions taken or expected to be taken in a tax return. The Company establishes a liability for tax-related uncertainties based on estimates of whether, and the extent to which, additional taxes will be due. The Company records an income tax liability, if any, for the difference between the benefit recognized and measured and the tax position taken or expected to be taken on the Company’s tax returns. To the extent that the assessment of such tax positions changes, the change in estimate is recorded in the period in which the determination is made. The liability is adjusted in light of changing facts and circumstances, such as the outcome of a tax audit. The provision for income taxes includes the impact of liability provisions and changes to the liability that are considered appropriate. The Company recognizes interest and penalties related to unrecognized tax benefits as income tax expense. As the Company maintained a full valuation allowance against its deferred tax assets in the United States, the adjustments resulted in no additional tax expense in 2013. Based on the Company’s assessment of many factors, the Company does not expect that changes in the liability for unrecognized tax benefits for the next twelve months will have a significant impact on the Company’s consolidated financial position or results of operations. | |||||||||||||
Recent Accounting Pronouncements | ' | ||||||||||||
Recent Accounting Pronouncements | |||||||||||||
In July 2013, the Financial Accounting Standards Board (FASB) issued a new accounting standard update on the financial statement presentation of unrecognized tax benefits. The new guidance provides that a liability related to an unrecognized tax benefit would be presented as a reduction of a deferred tax asset for a net operating loss carryforward, a similar tax loss or a tax credit carryforward if such settlement is required or expected in the event the uncertain tax position is disallowed. The new guidance becomes effective for the Company on January 1, 2014 and it will be applied prospectively to unrecognized tax benefits that exist at the effective date with retrospective application permitted. The Company is currently assessing the impact of this new guidance. |
Summary_of_Significant_Account2
Summary of Significant Accounting Policies (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Accounting Policies [Abstract] | ' | ||||||||||||
Changes in Allowance for Doubtful Accounts | ' | ||||||||||||
The following are changes in the allowance for doubtful accounts during 2013, 2012 and 2011, respectively. | |||||||||||||
Years Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Balances at beginning of period | $ | 277 | $ | 196 | $ | — | |||||||
Additions | 359 | 296 | 289 | ||||||||||
Write-offs | (219 | ) | (215 | ) | (93 | ) | |||||||
Balances at end of period | $ | 417 | $ | 277 | $ | 196 | |||||||
Schedule of Useful Lives of Property and Equipment | ' | ||||||||||||
The useful lives of the property and equipment are as follows: | |||||||||||||
Computer equipment | 3 to 5 years | ||||||||||||
Office equipment, furniture and fixtures | 3 to 5 years | ||||||||||||
Software | 3 years | ||||||||||||
Leasehold improvements | Shorter of useful life or lease term |
Balance_Sheet_Components_Table
Balance Sheet Components (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Organization Consolidation And Presentation Of Financial Statements [Abstract] | ' | ||||||||
Components of Property and Equipment | ' | ||||||||
The following table shows the components of property and equipment as of December 31, 2013 and 2012: | |||||||||
December 31, | |||||||||
2013 | 2012 | ||||||||
Computer equipment | $ | 16,314 | $ | 8,958 | |||||
Software | 7,690 | 4,268 | |||||||
Office equipment | 571 | 457 | |||||||
Furniture, fixtures and leasehold improvements | 1,861 | 1,742 | |||||||
26,436 | 15,425 | ||||||||
Less: Accumulated depreciation and amortization | (12,019 | ) | (6,201 | ) | |||||
$ | 14,417 | $ | 9,224 | ||||||
Components of Accrued Payroll and Other Expenses | ' | ||||||||
The following table shows the components of accrued payroll and other expenses as of December 31, 2013 and 2012: | |||||||||
December 31, | |||||||||
2013 | 2012 | ||||||||
Accrued salary and payroll related expenses | $ | 6,675 | $ | 4,771 | |||||
Accrued accounts payable | 2,773 | 3,882 | |||||||
Income tax payable | 434 | 109 | |||||||
Sales and use tax payable | 466 | 365 | |||||||
Other | 602 | 534 | |||||||
$ | 10,950 | $ | 9,661 | ||||||
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||||||||||
Account Balances Measured at Fair Value on Recurring Basis | ' | ||||||||||||||||||||||||
Account balances measured at fair value on a recurring basis include the following as of December 31, 2013 and 2012: | |||||||||||||||||||||||||
December 30, | |||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Level 1 | Level 2 | Level 3 | ||||||||||||||||||||
Cash equivalents | |||||||||||||||||||||||||
Money market funds | $ | 98,987 | $ | — | $ | — | $ | 19,930 | $ | — | $ | — | |||||||||||||
Long-term liabilities | |||||||||||||||||||||||||
Preferred stock warrant obligation | — | — | — | — | — | 507 | |||||||||||||||||||
Changes in Preferred Stock Warrant Obligation Measured and Recorded at Fair Value on Recurring Basis | ' | ||||||||||||||||||||||||
The following table presents the changes in the preferred stock warrant obligation measured and recorded at fair value on a recurring basis, using significant unobservable inputs (Level 3) during 2013, 2012 and 2011: | |||||||||||||||||||||||||
Years Ended December 31, | |||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||
Balances at beginning of period | $ | 507 | $ | 145 | $ | 72 | |||||||||||||||||||
Change in unrealized loss included in earnings | 238 | 362 | 73 | ||||||||||||||||||||||
Conversion to common stock warrant | (745 | ) | — | — | |||||||||||||||||||||
Balances at end of period | $ | — | $ | 507 | $ | 145 | |||||||||||||||||||
Debt_Tables
Debt (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Debt Disclosure [Abstract] | ' | ||||||||
Schedule of Outstanding Debt Balances | ' | ||||||||
The Company’s outstanding balances under the Revolving Credit Facility, the Equipment Advance Facilities and the capital lease as of December 31, 2013 and 2012 are as follows: | |||||||||
December 31, | |||||||||
2013 | 2012 | ||||||||
Capital lease | $ | 2,598 | $ | — | |||||
Revolving Credit Facility | — | 7,225 | |||||||
Equipment Advance Facilities | 3,771 | 3,970 | |||||||
6,369 | 11,195 | ||||||||
Discount on long-term debt | (154 | ) | (380 | ) | |||||
$ | 6,215 | $ | 10,815 | ||||||
Maturities of Outstanding Debt | ' | ||||||||
The maturities of debt as of December 31, 2013 are as follows: | |||||||||
Years Ending | |||||||||
2014 | $ | 3,253 | |||||||
2015 | 2,464 | ||||||||
2016 | 652 | ||||||||
6,369 | |||||||||
Less: | |||||||||
Current portion | (3,253 | ) | |||||||
Discount on long-term debt | (154 | ) | |||||||
Noncurrent portion of debt | $ | 2,962 | |||||||
Convertible_Preferred_Stock_Ta
Convertible Preferred Stock (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Equity [Abstract] | ' | ||||||||||||||||
Summary of Information Related to Convertible Preferred Stock Prior to Conversion into Common Stock | ' | ||||||||||||||||
The following table summarizes information related to the Company’s convertible preferred stock prior to conversion into common stock: | |||||||||||||||||
Shares | Shares | Liquidation | Proceeds | ||||||||||||||
Authorized | Outstanding | Amount | Net of | ||||||||||||||
Issuance | |||||||||||||||||
Cost | |||||||||||||||||
Series A | 2,009 | 2,009 | $ | 2,248 | $ | 2,208 | |||||||||||
Series A-1 | 1,400 | 1,400 | 2,329 | 2,273 | |||||||||||||
Series B | 2,673 | 2,622 | 7,227 | 7,146 | |||||||||||||
Series C | 4,673 | 4,673 | 12,999 | 12,915 | |||||||||||||
Series D | 2,022 | 2,022 | 11,192 | 11,038 | |||||||||||||
Series E | 1,744 | 1,744 | 16,036 | 15,934 | |||||||||||||
Series F | 2,805 | 2,805 | 34,488 | 34,294 | |||||||||||||
Series F-1 | 1,478 | 1,478 | 20,000 | 19,902 | |||||||||||||
18,804 | 18,753 | $ | 106,519 | $ | 105,710 | ||||||||||||
Common_Stock_Tables
Common Stock (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Equity [Abstract] | ' | ||||||||
Reserved Shares of Common Stock | ' | ||||||||
As of December 31, 2013 and 2012, reserved shares of common stock are as follows: | |||||||||
December 31, | |||||||||
2013 | 2012 | ||||||||
Common stock issuable upon exercise of warrants | — | 114 | |||||||
Options available for future grant under stock option plans | 4,585 | 724 | |||||||
Options outstanding under stock option plans | 4,855 | 4,314 | |||||||
Shares available for future issuance under ESPP | 854 | — | |||||||
Conversion of convertible preferred stock | — | 18,804 | |||||||
10,294 | 23,956 | ||||||||
Equity_Award_Plans_Tables
Equity Award Plans (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' | ||||||||||||||||
Summary of Activity under the 2006 Plan and 2013 Plan | ' | ||||||||||||||||
A summary of activity under the 2006 Plan and the 2013 Plan is as follows: | |||||||||||||||||
Options Outstanding | |||||||||||||||||
Number of | Weighted | Weighted | Aggregate | ||||||||||||||
Shares | Average | Average | Intrinsic | ||||||||||||||
Exercise | Remaining | Value | |||||||||||||||
Price | Contractual | ||||||||||||||||
Term | |||||||||||||||||
(in Years) | |||||||||||||||||
Balances at December 31, 2010 | 2,486 | $ | 1.14 | 5.54 | $ | 3,174 | |||||||||||
Options granted | 1,399 | 2.53 | 7.23 | ||||||||||||||
Options exercised | (607 | ) | 1.31 | — | |||||||||||||
Options forfeited and cancelled | (278 | ) | 1.65 | — | |||||||||||||
Balances at December 31, 2011 | 3,000 | 1.71 | 6.23 | $ | 10,575 | ||||||||||||
Options granted | 2,046 | 7.48 | 8.34 | ||||||||||||||
Options exercised | (518 | ) | 3.23 | — | |||||||||||||
Options forfeited and cancelled | (214 | ) | 3.66 | — | |||||||||||||
Balances at December 31, 2012 | 4,314 | 4.17 | 7.11 | $ | 34,439 | ||||||||||||
Options granted | 1,594 | 11.98 | 9.26 | ||||||||||||||
Options exercised | (618 | ) | 2.42 | — | |||||||||||||
Options forfeited and cancelled | (435 | ) | 8.6 | — | |||||||||||||
Balances at December 31, 2013 | 4,855 | $ | 6.56 | 7.85 | $ | 20,593 | |||||||||||
Options exercisable as of December 31, 2013 | 4,067 | $ | 5.75 | 7.58 | $ | 19,974 | |||||||||||
Options vested as of December 31, 2013 | 2,199 | $ | 3.32 | 6.78 | $ | 15,321 | |||||||||||
Options vested and expected to vest as of December 31, 2013 | 4,637 | $ | 6.4 | 7.8 | $ | 20,279 | |||||||||||
Summary of Information about Shares Subject to Stock Options Outstanding | ' | ||||||||||||||||
The following table summarizes information about shares subject to stock options outstanding as of December 31, 2013: | |||||||||||||||||
Options Outstanding | |||||||||||||||||
Range of Exercise Prices | Number | Weighted | |||||||||||||||
Outstanding | Average | ||||||||||||||||
Remaining | |||||||||||||||||
Contractual | |||||||||||||||||
Life (in years) | |||||||||||||||||
$0.14 – $0.82 | 676 | 4.89 | |||||||||||||||
$2.39 – $2.70 | 1,245 | 7.07 | |||||||||||||||
$5.20 – $7.55 | 1,381 | 8.4 | |||||||||||||||
$9.61 – $11.82 | 333 | 9.61 | |||||||||||||||
$12.12 – $14.18 | 1,220 | 9.11 | |||||||||||||||
4,855 | |||||||||||||||||
StockBased_Compensation_Tables
Stock-Based Compensation (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' | ||||||||||||
Assumptions Used to Estimate Fair Value of Options | ' | ||||||||||||
The Company used the following assumptions: | |||||||||||||
Years Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Dividend yield | — | — | — | ||||||||||
Expected volatility | 55 | % | 57 | % | 56.7 | % | |||||||
Risk-free interest rate | 1.27 | % | 0.95 | % | 2.02 | % | |||||||
Expected life of options (in years) | 6.25 | 6.25 | 6.25 | ||||||||||
Forfeiture rate | 7 | % | 3.2% – 7.0 | % | 3.0% – 8.0 | % | |||||||
Weighted-average grant-date fair value | $ | 6.41 | $ | 4.37 | $ | 1.61 | |||||||
Weighted-average grant-date exercise price | $ | 11.98 | $ | 7.48 | $ | 2.53 | |||||||
Weighted-Average Assumptions Used to Estimate Fair Value of Purchase Rights | ' | ||||||||||||
The fair value of each purchase right under the ESPP was estimated on the date of grant using the Black-Scholes option valuation model and the straight-line attribution approach with the following assumptions: | |||||||||||||
Dividend yield | — | ||||||||||||
Expected volatility | 51% – 56% | ||||||||||||
Risk-free interest rate | 0.81% – 1.64% | ||||||||||||
Expected life of options (in years) | 0.50 – 0.65 | ||||||||||||
Forfeiture rate | 7.00% |
Income_Taxes_Tables
Income Taxes (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||||||
Schedule of Components of Loss Before Provision for Income Taxes | ' | ||||||||||||
The components of the Company’s loss before provision for income taxes were as follows: | |||||||||||||
Years Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
United States of America | $ | (24,197 | ) | $ | (27,423 | ) | $ | (17,791 | ) | ||||
International | (11,163 | ) | 1,162 | 507 | |||||||||
$ | (35,360 | ) | $ | (26,261 | ) | $ | (17,284 | ) | |||||
Schedule of Components of Provision for Income Taxes | ' | ||||||||||||
The components of the provision for income taxes were as follows: | |||||||||||||
Years Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Current income tax provision | |||||||||||||
Federal | $ | — | $ | — | $ | — | |||||||
State | 26 | 19 | 8 | ||||||||||
Foreign | 557 | 310 | 131 | ||||||||||
Total current income tax provision | 583 | 329 | 139 | ||||||||||
Deferred income tax provision (benefit) | |||||||||||||
Federal | — | — | — | ||||||||||
State | — | — | — | ||||||||||
Foreign | (91 | ) | (108 | ) | — | ||||||||
Total deferred income tax provision (benefit) | (91 | ) | (108 | ) | — | ||||||||
Provision for income taxes | $ | 492 | $ | 221 | $ | 139 | |||||||
Differences in Total Provision for Income Taxes | ' | ||||||||||||
The differences in the total provision for income taxes that would result from applying the 34% federal statutory rate to loss before provision for income taxes and the reported provision for income taxes were as follows: | |||||||||||||
Years Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Tax benefit at U.S. statutory rate | $ | (12,022 | ) | $ | (8,929 | ) | $ | (5,877 | ) | ||||
State income taxes, net of federal benefit | 19 | 19 | 8 | ||||||||||
Foreign income and withholding taxes | 4,382 | (184 | ) | (41 | ) | ||||||||
Stock-based compensation | 863 | 458 | 171 | ||||||||||
Change in valuation allowance | 4,437 | 9,082 | 5,839 | ||||||||||
Research and development credits | (776 | ) | (823 | ) | — | ||||||||
Uncertain tax positions | 1,499 | — | — | ||||||||||
Provision to return adjustments | 1,894 | 328 | — | ||||||||||
Other | 196 | 270 | 39 | ||||||||||
$ | 492 | $ | 221 | $ | 139 | ||||||||
Schedule of Components of Company's Deferred Tax Assets | ' | ||||||||||||
Major components of the Company’s deferred tax assets as of December 31, 2013 and 2012 are as follows: | |||||||||||||
December 31, | |||||||||||||
2013 | 2012 | ||||||||||||
Current | |||||||||||||
Accruals and reserves | $ | 1,816 | $ | 1,509 | |||||||||
Stock-based compensation | 151 | 64 | |||||||||||
Other | (64 | ) | 41 | ||||||||||
Current deferred tax assets | 1,903 | 1,614 | |||||||||||
Valuation allowance | (1,853 | ) | (1,578 | ) | |||||||||
Total current deferred tax asset, net of valuation allowance | 50 | 36 | |||||||||||
Noncurrent | |||||||||||||
Net operating loss | 27,355 | 25,901 | |||||||||||
Accruals and reserves | 149 | 81 | |||||||||||
Research and development credits | 3,391 | 1,622 | |||||||||||
Stock-based compensation | 452 | 192 | |||||||||||
Property and equipment | 914 | 552 | |||||||||||
Other | 94 | — | |||||||||||
Noncurrent deferred tax assets | 32,355 | 28,348 | |||||||||||
Valuation allowance | (32,205 | ) | (28,276 | ) | |||||||||
Total non-current deferred tax asset, net of valuation allowance | $ | 150 | $ | 72 | |||||||||
Change in Unrecognized Tax Benefits | ' | ||||||||||||
The aggregate changes in the balance of gross unrecognized tax benefits were as follows: | |||||||||||||
Beginning balance as of January 1, 2013 | $ | 508 | |||||||||||
Increase in balances related to tax positions taken during the current period | 580 | ||||||||||||
Ending balance as of December 31, 2013 | $ | 1,088 | |||||||||||
Net_Loss_Per_Share_Available_t1
Net Loss Per Share Available to Common Stockholders (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Earnings Per Share [Abstract] | ' | ||||||||||||
Calculation of Basic and Diluted Net Loss Per Share | ' | ||||||||||||
The following table presents the calculation of basic and diluted net loss per share: | |||||||||||||
Years Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Numerator: | |||||||||||||
Net loss available to common stockholders | $ | (35,852 | ) | $ | (26,482 | ) | $ | (17,423 | ) | ||||
Denominator: | |||||||||||||
Weighted average number of shares, basic and diluted | 26,312 | 4,417 | 4,058 | ||||||||||
Net loss per share available to common stockholders | |||||||||||||
Basic and diluted net loss per common share available to common stockholders | $ | (1.36 | ) | $ | (6.00 | ) | $ | (4.29 | ) | ||||
Potential Common Shares Outstanding | ' | ||||||||||||
The following table presents the potential common shares outstanding that were excluded from the computation of diluted net loss per share available to common stockholders for the periods presented because including them would have been anti-dilutive: | |||||||||||||
Years Ended | |||||||||||||
December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Convertible preferred stock | — | 18,753 | 14,470 | ||||||||||
Options to purchase common stock | 4,855 | 4,314 | 3,000 | ||||||||||
Common stock subject to repurchase | 180 | 284 | 291 | ||||||||||
Convertible preferred stock warrants | — | 51 | 51 | ||||||||||
Common stock warrants | — | 63 | 37 | ||||||||||
5,035 | 23,465 | 17,849 | |||||||||||
Segment_Reporting_Tables
Segment Reporting (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||
Revenues by Geographic Area, Based on Billing Location of Customer | ' | ||||||||||||
Revenues by geographic area, based on the billing location of the customer, were as follows: | |||||||||||||
Years Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
United States of America | $ | 52,725 | $ | 43,429 | $ | 26,673 | |||||||
International | 24,590 | 16,129 | 9,448 | ||||||||||
Total revenues, net | $ | 77,315 | $ | 59,558 | $ | 36,121 | |||||||
Long-lived assets by geographic area were as follows: | |||||||||||||
December 31, | |||||||||||||
2013 | 2012 | ||||||||||||
United States of America | $ | 14,050 | $ | 8,839 | |||||||||
International | 367 | 385 | |||||||||||
Total long-lived assets, net | $ | 14,417 | $ | 9,224 | |||||||||
Commitments_and_Contingencies_
Commitments and Contingencies (Tables) | 12 Months Ended | ||||
Dec. 31, 2013 | |||||
Commitments And Contingencies Disclosure [Abstract] | ' | ||||
Annual Future Minimum Payments under Operating Leases | ' | ||||
Future minimum lease payments for significant operating leases as of December 31, 2013 were as follows: | |||||
Years Ended | |||||
2014 | $ | 5,690 | |||
2015 | 2,270 | ||||
2016 | 717 | ||||
2017 | 735 | ||||
2018 | 124 | ||||
$ | 9,536 | ||||
Background_Additional_Informat
Background - Additional Information (Detail) (USD $) | 1 Months Ended | 12 Months Ended |
In Thousands, except Per Share data, unless otherwise specified | Apr. 11, 2013 | Dec. 31, 2013 |
Background And Basis Of Presentation [Line Items] | ' | ' |
Common stock shares sold | 1,125 | ' |
Gross proceeds from IPO | ' | $105,000 |
Net proceeds from shares issuance in IPO | 14,648 | ' |
Initial Public Offering [Member] | ' | ' |
Background And Basis Of Presentation [Line Items] | ' | ' |
Common stock shares sold | ' | 7,500 |
Public offering price per share | ' | $14 |
Net proceeds from IPO | ' | $94,659 |
Summary_of_Significant_Account3
Summary of Significant Accounting Policies - Additional Information (Detail) (USD $) | 12 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Summary Of Significant Accounting Policies [Line Items] | ' | ' | ' |
Cash equivalents | $98,987 | $19,930 | ' |
Allowance for doubtful accounts | 417 | 277 | 196 |
Allowance for potential customer credits | 389 | 452 | ' |
Capitalization of software development costs for internal-use | 3,216 | 1,743 | 1,028 |
Amortization of capitalized costs related to internal-use software | 1,156 | 525 | 456 |
Unamortized internal use software development costs | 4,236 | 2,176 | ' |
Impairment losses on long-lived assets | 0 | 0 | 0 |
Advertising expense | 785 | 632 | 359 |
Additional tax expense | 4,437 | 9,082 | 5,839 |
Expected changes in liability for unrecognized tax benefits for next twelve months | 0 | ' | ' |
Customer Concentration Risk [Member] | Net Accounts Receivable [Member] | ' | ' | ' |
Summary Of Significant Accounting Policies [Line Items] | ' | ' | ' |
Number of customers accounted for more than 10% | 0 | 0 | ' |
Customer Concentration Risk [Member] | Consolidated Revenues [Member] | ' | ' | ' |
Summary Of Significant Accounting Policies [Line Items] | ' | ' | ' |
Number of customers accounted for more than 10% | 0 | 0 | 0 |
Minimum [Member] | Customer Concentration Risk [Member] | Net Accounts Receivable [Member] | ' | ' | ' |
Summary Of Significant Accounting Policies [Line Items] | ' | ' | ' |
Percentage of concentration of credit risk | 10.00% | 10.00% | ' |
Minimum [Member] | Customer Concentration Risk [Member] | Consolidated Revenues [Member] | ' | ' | ' |
Summary Of Significant Accounting Policies [Line Items] | ' | ' | ' |
Percentage of concentration of credit risk | 10.00% | 10.00% | 10.00% |
Minimum [Member] | Subscription Arrangement [Member] | ' | ' | ' |
Summary Of Significant Accounting Policies [Line Items] | ' | ' | ' |
Length of subscription agreements | '1 year | ' | ' |
Software [Member] | ' | ' | ' |
Summary Of Significant Accounting Policies [Line Items] | ' | ' | ' |
Estimated useful life of internal use software | '3 years | ' | ' |
Reduction in amortization of internal use software recorded in cost of revenues | ' | $303 | ' |
Change in the earnings per share due to revision of useful life | ' | $0.07 | ' |
Software [Member] | Minimum [Member] | ' | ' | ' |
Summary Of Significant Accounting Policies [Line Items] | ' | ' | ' |
Change in the useful lives of property plant and equipment | ' | '2 years | ' |
Software [Member] | Maximum [Member] | ' | ' | ' |
Summary Of Significant Accounting Policies [Line Items] | ' | ' | ' |
Change in the useful lives of property plant and equipment | ' | '3 years | ' |
Summary_of_Significant_Account4
Summary of Significant Accounting Policies - Changes in Allowance 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] | ' | ' | ' |
Balances at beginning of period | $277 | $196 | ' |
Additions | 359 | 296 | 289 |
Write-offs | -219 | -215 | -93 |
Balances at end of period | $417 | $277 | $196 |
Summary_of_Significant_Account5
Summary of Significant Accounting Policies - Schedule of Useful Lives of Property and Equipment (Detail) | 12 Months Ended |
Dec. 31, 2013 | |
Computer Equipment [Member] | Maximum [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Useful lives of property and equipment | '5 years |
Computer Equipment [Member] | Minimum [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Useful lives of property and equipment | '3 years |
Office Equipment, Furniture and Fixtures [Member] | Maximum [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Useful lives of property and equipment | '5 years |
Office Equipment, Furniture and Fixtures [Member] | Minimum [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Useful lives of property and equipment | '3 years |
Software [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Useful lives of property and equipment | '3 years |
Leasehold Improvements [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Leasehold improvements | 'Shorter of useful life or lease term |
Balance_Sheet_Components_Compo
Balance Sheet Components - Components of Property and Equipment (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Property, Plant and Equipment [Line Items] | ' | ' |
Property and equipment, gross | $26,436 | $15,425 |
Less: Accumulated depreciation and amortization | -12,019 | -6,201 |
Property and equipment, net | 14,417 | 9,224 |
Computer Equipment [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property and equipment, gross | 16,314 | 8,958 |
Software [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property and equipment, gross | 7,690 | 4,268 |
Office Equipment [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property and equipment, gross | 571 | 457 |
Furniture and Fixtures and Leasehold Improvements [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property and equipment, gross | $1,861 | $1,742 |
Balance_Sheet_Components_Addit
Balance Sheet Components - Additional Information (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Quarterly Financial Information Disclosure [Abstract] | ' | ' | ' |
Depreciation and amortization expense | $5,878 | $3,167 | $1,800 |
Balance_Sheet_Components_Compo1
Balance Sheet Components - Components of Accrued Payroll and Other Expenses (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Quarterly Financial Information Disclosure [Abstract] | ' | ' |
Accrued salary and payroll related expenses | $6,675 | $4,771 |
Accrued accounts payable | 2,773 | 3,882 |
Income tax payable | 434 | 109 |
Sales and use tax payable | 466 | 365 |
Other | 602 | 534 |
Accrued payroll and other expenses | $10,950 | $9,661 |
Fair_Value_Measurements_Accoun
Fair Value Measurements - Account Balances Measured at Fair Value on Recurring Basis (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Level 1 [Member] | Preferred Stock Warrants [Member] | ' | ' |
Long-term liabilities | ' | ' |
Long-term liabilities - Preferred stock warrant obligation | ' | ' |
Level 1 [Member] | Money Market Funds [Member] | ' | ' |
Cash equivalents | ' | ' |
Cash equivalents - Money market funds | 98,987 | 19,930 |
Level 2 [Member] | Preferred Stock Warrants [Member] | ' | ' |
Long-term liabilities | ' | ' |
Long-term liabilities - Preferred stock warrant obligation | ' | ' |
Level 2 [Member] | Money Market Funds [Member] | ' | ' |
Cash equivalents | ' | ' |
Cash equivalents - Money market funds | ' | ' |
Level 3 [Member] | Preferred Stock Warrants [Member] | ' | ' |
Long-term liabilities | ' | ' |
Long-term liabilities - Preferred stock warrant obligation | ' | 507 |
Level 3 [Member] | Money Market Funds [Member] | ' | ' |
Cash equivalents | ' | ' |
Cash equivalents - Money market funds | ' | ' |
Fair_Value_Measurements_Change
Fair Value Measurements - Changes in Preferred Stock Warrant Obligation Measured and Recorded at Fair Value on Recurring Basis (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items] | ' | ' | ' |
Conversion to common stock warrant | ($745) | ' | ' |
Level 3 [Member] | ' | ' | ' |
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items] | ' | ' | ' |
Beginning balance | 507 | 145 | 72 |
Change in unrealized loss included in earnings | 238 | 362 | 73 |
Conversion to common stock warrant | -745 | ' | ' |
Ending balance | ' | $507 | $145 |
Fair_Value_Measurements_Additi
Fair Value Measurements - Additional Information (Detail) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Fair Value Disclosures [Abstract] | ' | ' |
Cash equivalent consist of money market with maturity dates | '3 months | '3 months |
Unrealized gains or losses on money market funds | $0 | $0 |
Amount held in bank deposits | $5,420 | $11,610 |
Debt_Additional_Information_De
Debt - Additional Information (Detail) (USD $) | 12 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Jan. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Sep. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | 31-May-13 | Dec. 31, 2013 | Dec. 31, 2013 | Feb. 28, 2013 |
Equipment Advance Facilities [Member] | Equipment Advance Facilities [Member] | Equipment Advance Facilities [Member] | Additional Equipment Advance Facility [Member] | Additional Equipment Advance Facility [Member] | Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | Supplemental Equipment Advance [Member] | Supplemental Equipment Advance [Member] | Supplemental Equipment Advance [Member] | Supplemental Equipment Advance [Member] | Loan and Security Agreement [Member] | Computer Equipment [Member] | Computer Equipment [Member] | ||||
Installment | Installment | Common Stock [Member] | Installment | Warrant [Member] | Warrant [Member] | Series B [Member] | Installment | ||||||||||||
Line of Credit Facility [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of shares called by issuance of warrant | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 51 | ' | ' |
Common stock per share | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.7 | ' | ' | 12.15 | ' | 2.7563 | ' | ' |
Expiration date of warrant | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 30-Oct-18 | ' | ' |
Expiration period of warrant | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '5 years | ' | ' |
Aggregate estimated fair value of warrant | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $72 | ' | ' |
Fair value of warrant assumptions, expected volatility | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 57.00% | ' | ' | 57.00% | ' | 53.00% | ' | ' |
Fair value of warrant assumptions, risk free interest rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.10% | ' | ' | 1.65% | ' | 4.85% | ' | ' |
Fair value of warrant assumptions, expected life | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '10 years | ' | ' | '10 years | ' | '10 years | ' | ' |
Fair value of warrant assumptions, dividends | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0 | ' | ' | $0 | ' | $0 | ' | ' |
Increase in the revolving credit facility | 12,000 | ' | ' | 2,000 | ' | ' | 2,000 | ' | 15,000 | ' | ' | ' | 3,000 | ' | ' | ' | ' | ' | ' |
Revolving credit facility, amended annual interest rate | ' | ' | ' | 5.50% | ' | ' | 5.50% | ' | 0.25% | ' | ' | ' | 3.00% | ' | ' | ' | ' | ' | ' |
Frequency of payments, description | ' | ' | ' | ' | 'Repayable in 36 consecutive monthly installments of principal and interest | ' | ' | 'Repayable in 36 consecutive monthly installments of principal and interest | ' | ' | ' | ' | ' | 'Repayable in 33 consecutive monthly installments of principal and interest | ' | ' | ' | ' | ' |
Number of monthly installments | ' | ' | ' | 36 | ' | ' | 36 | ' | ' | ' | ' | ' | 33 | ' | ' | ' | ' | ' | ' |
Revolving credit facility, the expiration date | ' | ' | ' | 1-Dec-14 | ' | ' | 1-Sep-15 | ' | 31-Jul-15 | ' | ' | ' | 1-Mar-16 | ' | ' | ' | ' | ' | ' |
Number of shares purchased from issuance of a warrant | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 37 | ' | ' | 27 | 68 | ' | ' | ' |
Expiration date | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 30-Nov-21 | ' | ' | 31-Dec-22 | ' | ' | ' | ' |
Aggregate estimated fair value of warrant | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 139 | ' | ' | 213 | ' | ' | ' | ' |
Interest expense related to preferred stock warrants and common stock warrants issued | 251 | 159 | 56 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of eligible accounts receivable | ' | ' | ' | ' | ' | ' | ' | ' | 80.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unrestricted cash balance exceeds | ' | ' | ' | ' | ' | ' | ' | ' | 50,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revolving credit facility, Description | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'In September 2013, the Company entered into an amendment to the Revolving Credit Facility pursuant to which Silicon Valley Bank agreed to increase the Revolving Credit Facility to the lesser of $15,000 or 80% of the Company's eligible accounts receivable. | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Effective interest rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6.00% |
Number of monthly installments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 36 |
Net book value of equipment under capital lease | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,495 | ' |
Remaining principal balance payable | 6,369 | 11,195 | ' | ' | 3,771 | 3,970 | ' | ' | ' | ' | 7,225 | ' | ' | ' | ' | ' | ' | 2,876 | ' |
Change in the valuation of outstanding preferred stock warrants | $238 | $362 | $73 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt_Schedule_of_Outstanding_D
Debt - Schedule of Outstanding Debt Balances (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Debt Instrument [Line Items] | ' | ' |
Long-term debt outstanding, gross | $6,369 | $11,195 |
Discount on long-term debt | -154 | -380 |
Long term debt outstanding, net | 6,215 | 10,815 |
Capital Lease [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Long-term debt outstanding, gross | 2,598 | ' |
Revolving Credit Facility [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Long-term debt outstanding, gross | ' | 7,225 |
Equipment Advance Facilities [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Long-term debt outstanding, gross | $3,771 | $3,970 |
Debt_Maturities_of_Outstanding
Debt - Maturities of Outstanding Debt (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Debt Disclosure [Abstract] | ' | ' |
2014 | $3,253 | ' |
2015 | 2,464 | ' |
2016 | 652 | ' |
Total | 6,369 | 11,195 |
Less: | ' | ' |
Current portion | -3,253 | -1,572 |
Discount on long-term debt | -154 | -380 |
Noncurrent portion of debt | $2,962 | $9,243 |
Convertible_Preferred_Stock_Ad
Convertible Preferred Stock - Additional Information (Detail) (USD $) | 12 Months Ended | 12 Months Ended | 1 Months Ended | ||||||||||||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Jan. 31, 2012 | 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 | Dec. 31, 2013 | Jan. 31, 2012 | Jan. 31, 2012 |
Sales and Marketing [Member] | Sales and Marketing [Member] | Sales and Marketing [Member] | Research and Development [Member] | Research and Development [Member] | Research and Development [Member] | General and Administrative [Member] | General and Administrative [Member] | General and Administrative [Member] | Convertible Preferred Stock [Member] | Common Stock [Member] | Series F [Member] | ||||
Class of Stock [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Preferred stock conversion rate | 'The Company's outstanding convertible preferred stock ("Series A Stock", "Series A-1 Stock", "Series B Stock", "Series C Stock", "Series D Stock," "Series E Stock," "Series F Stock" and "Series F-1 Stock") automatically converted at a rate of 1:1 into common stock. | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Preferred stock conversion ratio | 1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Dividends declared | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0 | ' | ' |
Number of shares of common stock repurchased | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 365 | ' |
Issuance price of preferred stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $12.30 |
Payments for repurchase of preferred stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,488 | ' |
Aggregate estimated fair value of repurchased common stock | ' | ' | $1,898 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock-based compensation expense | ' | $2,590 | ' | $1,304 | $1,005 | $226 | $1,346 | $831 | $163 | $1,681 | $2,673 | $143 | ' | ' | ' |
Convertible_Preferred_Stock_Su
Convertible Preferred Stock - Summary of Information Related to Convertible Preferred Stock Prior to Conversion into Common Stock (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Class of Stock [Line Items] | ' | ' |
Shares Authorized | 10,000 | 18,804 |
Shares Outstanding | 0 | 18,753 |
Liquidation Amount | $0 | $106,519 |
Proceeds Net of Issuance Cost | ' | 105,710 |
Series A [Member] | ' | ' |
Class of Stock [Line Items] | ' | ' |
Shares Authorized | 2,009 | ' |
Shares Outstanding | 2,009 | ' |
Liquidation Amount | 2,248 | ' |
Proceeds Net of Issuance Cost | 2,208 | ' |
Series A-1 [Member] | ' | ' |
Class of Stock [Line Items] | ' | ' |
Shares Authorized | 1,400 | ' |
Shares Outstanding | 1,400 | ' |
Liquidation Amount | 2,329 | ' |
Proceeds Net of Issuance Cost | 2,273 | ' |
Series B [Member] | ' | ' |
Class of Stock [Line Items] | ' | ' |
Shares Authorized | 2,673 | ' |
Shares Outstanding | 2,622 | ' |
Liquidation Amount | 7,227 | ' |
Proceeds Net of Issuance Cost | 7,146 | ' |
Series C [Member] | ' | ' |
Class of Stock [Line Items] | ' | ' |
Shares Authorized | 4,673 | ' |
Shares Outstanding | 4,673 | ' |
Liquidation Amount | 12,999 | ' |
Proceeds Net of Issuance Cost | 12,915 | ' |
Series D [Member] | ' | ' |
Class of Stock [Line Items] | ' | ' |
Shares Authorized | 2,022 | ' |
Shares Outstanding | 2,022 | ' |
Liquidation Amount | 11,192 | ' |
Proceeds Net of Issuance Cost | 11,038 | ' |
Series E [Member] | ' | ' |
Class of Stock [Line Items] | ' | ' |
Shares Authorized | 1,744 | ' |
Shares Outstanding | 1,744 | ' |
Liquidation Amount | 16,036 | ' |
Proceeds Net of Issuance Cost | 15,934 | ' |
Series F [Member] | ' | ' |
Class of Stock [Line Items] | ' | ' |
Shares Authorized | 2,805 | ' |
Shares Outstanding | 2,805 | ' |
Liquidation Amount | 34,488 | ' |
Proceeds Net of Issuance Cost | 34,294 | ' |
Series F-1 [Member] | ' | ' |
Class of Stock [Line Items] | ' | ' |
Shares Authorized | 1,478 | ' |
Shares Outstanding | 1,478 | ' |
Liquidation Amount | 20,000 | ' |
Proceeds Net of Issuance Cost | $19,902 | ' |
Common_Stock_Additional_Inform
Common Stock - Additional Information (Detail) (USD $) | Dec. 31, 2013 | Feb. 12, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, except Per Share data, unless otherwise specified | CSPAs [Member] | CSPAs [Member] | |||
Class of Stock [Line Items] | ' | ' | ' | ' | ' |
Common stock, shares authorized | 500,000 | 500,000 | 36,000 | ' | ' |
Common stock, par value | $0.00 | $0.00 | $0.00 | ' | ' |
Convertible preferred stock, shares authorized | ' | 10,000 | ' | ' | ' |
Convertible preferred stock, par value | ' | $0.00 | ' | ' | ' |
Common stock, shares issued | 33,133 | ' | 4,942 | ' | 84 |
Proceeds from issuance of common stock | $33 | ' | $5 | ' | $500 |
Common stock, shares unvested | ' | ' | ' | 11 | ' |
Vesting period of common stock | ' | ' | ' | '24 months | ' |
Common_Stock_Reserved_Shares_o
Common Stock - Reserved Shares of Common Stock (Detail) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Class of Stock [Line Items] | ' | ' |
Reserved shares of common stock | 10,294 | 23,956 |
Warrant [Member] | ' | ' |
Class of Stock [Line Items] | ' | ' |
Reserved shares of common stock | ' | 114 |
Options Available for Future Grant under Stock Option Plans [Member] | ' | ' |
Class of Stock [Line Items] | ' | ' |
Reserved shares of common stock | 4,585 | 724 |
Options Outstanding under Stock Option Plans [Member] | ' | ' |
Class of Stock [Line Items] | ' | ' |
Reserved shares of common stock | 4,855 | 4,314 |
Shares Available for Future Issuance under ESPP [Member] | ' | ' |
Class of Stock [Line Items] | ' | ' |
Reserved shares of common stock | 854 | ' |
Convertible Preferred Stock [Member] | ' | ' |
Class of Stock [Line Items] | ' | ' |
Reserved shares of common stock | ' | 18,804 |
Equity_Award_Plans_Additional_
Equity Award Plans - Additional Information (Detail) (USD $) | 12 Months Ended | 12 Months Ended | 12 Months Ended | ||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Feb. 28, 2013 | Dec. 31, 2013 | Feb. 28, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 |
Equity Incentive Plan [Member] | Equity Incentive Plan [Member] | Employees Stock Purchase Plan [Member] | Employees Stock Purchase Plan [Member] | Reason Other Than Disability or Death [Member] | Due to Disability or Death [Member] | Employee Stock Plan 2006 Plan [Member] | Employee Stock Plan 2006 Plan [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Term of options granted under Plan may not exceed | ' | ' | ' | '10 years | ' | ' | ' | ' | ' | '10 years | ' |
Repurchase of shares | ' | ' | ' | ' | ' | ' | ' | ' | ' | 180 | 214 |
Long-term liability | ' | ' | ' | ' | ' | ' | ' | ' | ' | $1,215 | $1,332 |
Shares reserved for issuance | 10,294 | 23,956 | ' | ' | 4,500 | ' | 1,000 | ' | ' | ' | ' |
Percentage of shares outstanding under Equity Award Plan | ' | ' | ' | 5.00% | ' | 1.00% | ' | ' | ' | ' | ' |
Exercise period of options | ' | ' | ' | ' | ' | ' | ' | '3 months | '12 months | ' | ' |
Intrinsic value of options exercised | 5,693 | 2,266 | 545 | ' | ' | ' | ' | ' | ' | ' | ' |
Estimated fair value of share options vested | $3,110 | $1,572 | $559 | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of fair market value of common stock of lesser | ' | ' | ' | ' | ' | 85.00% | ' | ' | ' | ' | ' |
Number of shares reserved under Employee Stock Purchase Plan | ' | ' | ' | ' | ' | 700 | ' | ' | ' | ' | ' |
Shares issued under 2013 ESPP | ' | ' | ' | ' | ' | 146 | ' | ' | ' | ' | ' |
Equity_Award_Plans_Summary_of_
Equity Award Plans - Summary of Activity under the 2006 Plan and 2013 Plan (Detail) (USD $) | 12 Months Ended | |||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
Equity [Abstract] | ' | ' | ' | ' |
Number of Shares, Options Outstanding, Balance | 4,314 | 3,000 | 2,486 | ' |
Weighted Average Remaining Contractual Term, Options granted (in Years) | '9 years 3 months 4 days | '8 years 4 months 2 days | '7 years 2 months 23 days | ' |
Number of Shares, Options granted | 1,594 | 2,046 | 1,399 | ' |
Weighted Average Remaining Contractual Term, Options exercised (in Years) | ' | ' | ' | ' |
Number of Shares, Options exercised | -618 | -518 | -607 | ' |
Weighted Average Remaining Contractual Term, Options forfeited and cancelled (in Years) | ' | ' | ' | ' |
Number of Shares, Options forfeited and cancelled | -435 | -214 | -278 | ' |
Weighted Average Remaining Contractual Term, Options Outstanding (in Years) | '7 years 10 months 6 days | '7 years 1 month 10 days | '6 years 2 months 23 days | '5 years 6 months 15 days |
Number of Shares, Options Outstanding, Balance | 4,855 | 4,314 | 3,000 | 2,486 |
Weighted Average Remaining Contractual Term, Options exercisable (in Years) | '7 years 6 months 29 days | ' | ' | ' |
Weighted Average Exercise Price, Options Outstanding, Balance | $4.17 | $1.71 | $1.14 | ' |
Number of Shares, Options exercisable, Balance | 4,067 | ' | ' | ' |
Weighted Average Remaining Contractual Term, Options vested (in Years) | '6 years 9 months 11 days | ' | ' | ' |
Weighted Average Exercise Price, Options granted | $11.98 | $7.48 | $2.53 | ' |
Number of Shares, Options vested, Balance | 2,199 | ' | ' | ' |
Weighted Average Remaining Contractual Term, Options vested and expected to vest (in Years) | '7 years 9 months 18 days | ' | ' | ' |
Weighted Average Exercise Price, Options exercised | $2.42 | $3.23 | $1.31 | ' |
Number of Shares, Options vested and expected to vest, Balance | 4,637 | ' | ' | ' |
Weighted Average Exercise Price, Options forfeited and cancelled | $8.60 | $3.66 | $1.65 | ' |
Weighted Average Exercise Price, Options Outstanding, Balance | $6.56 | $4.17 | $1.71 | $1.14 |
Aggregate Intrinsic Value, Options Outstanding, Balance | $34,439 | $10,575 | $3,174 | ' |
Weighted Average Exercise Price, Options exercisable, Balance | $5.75 | ' | ' | ' |
Weighted Average Exercise Price, Options vested, Balance | $3.32 | ' | ' | ' |
Weighted Average Exercise Price, Options vested and expected to vest, Balance | $6.40 | ' | ' | ' |
Aggregate Intrinsic Value, Options Outstanding, Balance | 20,593 | 34,439 | 10,575 | 3,174 |
Aggregate Intrinsic Value, Options exercisable, Balance | 19,974 | ' | ' | ' |
Aggregate Intrinsic Value, Outstanding, Options vested, Balance | 15,321 | ' | ' | ' |
Aggregate Intrinsic Value, Outstanding, Options vested and expected to vest, Balance | $20,279 | ' | ' | ' |
Equity_Award_Plans_Summary_of_1
Equity Award Plans - Summary of Information about Shares Subject to Stock Options Outstanding (Detail) (USD $) | 12 Months Ended | |||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' | ' | ' | ' |
Number of Options Outstanding | 4,855 | 4,314 | 3,000 | 2,486 |
Weighted Average Remaining Contractual Life in years, Options outstanding | '7 years 10 months 6 days | '7 years 1 month 10 days | '6 years 2 months 23 days | '5 years 6 months 15 days |
Range of Exercise Prices, $0.14 - $0.82 [Member] | ' | ' | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' | ' | ' | ' |
Exercise Price Range, Lower limit | 0.14 | ' | ' | ' |
Exercise Price Range, Upper limit | 0.82 | ' | ' | ' |
Number of Options Outstanding | 676 | ' | ' | ' |
Weighted Average Remaining Contractual Life in years, Options outstanding | '4 years 10 months 21 days | ' | ' | ' |
Range of Exercise Prices, $2.39 - $2.70 [Member] | ' | ' | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' | ' | ' | ' |
Exercise Price Range, Lower limit | 2.39 | ' | ' | ' |
Exercise Price Range, Upper limit | 2.7 | ' | ' | ' |
Number of Options Outstanding | 1,245 | ' | ' | ' |
Weighted Average Remaining Contractual Life in years, Options outstanding | '7 years 26 days | ' | ' | ' |
Range of Exercise Prices, $5.20 - $7.55 [Member] | ' | ' | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' | ' | ' | ' |
Exercise Price Range, Lower limit | 5.2 | ' | ' | ' |
Exercise Price Range, Upper limit | 7.55 | ' | ' | ' |
Number of Options Outstanding | 1,381 | ' | ' | ' |
Weighted Average Remaining Contractual Life in years, Options outstanding | '8 years 4 months 24 days | ' | ' | ' |
Range of Exercise Prices, $9.61 - $11.82 [Member] | ' | ' | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' | ' | ' | ' |
Exercise Price Range, Lower limit | 9.61 | ' | ' | ' |
Exercise Price Range, Upper limit | 11.82 | ' | ' | ' |
Number of Options Outstanding | 333 | ' | ' | ' |
Weighted Average Remaining Contractual Life in years, Options outstanding | '9 years 7 months 10 days | ' | ' | ' |
Range of Exercise Prices, $12.12 - $14.18 [Member] | ' | ' | ' | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' | ' | ' | ' |
Exercise Price Range, Lower limit | 12.12 | ' | ' | ' |
Exercise Price Range, Upper limit | 14.18 | ' | ' | ' |
Number of Options Outstanding | 1,220 | ' | ' | ' |
Weighted Average Remaining Contractual Life in years, Options outstanding | '9 years 1 month 10 days | ' | ' | ' |
StockBased_Compensation_Additi
Stock-Based Compensation - Additional Information (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Stock-based compensation | $5,218 | $2,358 | $697 |
Cash proceeds from the exercise of stock options | 1,541 | 1,624 | 791 |
Unrecognized compensation cost related to options | 11,597 | 8,563 | ' |
Recognized weighted-average period | '2 years 8 months 12 days | '2 years 10 months 24 days | ' |
Employees Stock Purchase Plan [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Stock-based compensation | $5,218 | $4,948 | $697 |
StockBased_Compensation_Assump
Stock-Based Compensation - Assumptions Used to Estimate Fair Value of Options (Detail) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Dividend yield | ' | ' | ' |
Expected volatility | 55.00% | 57.00% | 56.70% |
Risk-free interest rate | 1.27% | 0.95% | 2.02% |
Expected life of options (in years) | '6 years 3 months | '6 years 3 months | '6 years 3 months |
Forfeiture rate | 7.00% | ' | ' |
Weighted-average grant-date fair value | $6.41 | $4.37 | $1.61 |
Weighted-average grant-date exercise price | $11.98 | $7.48 | $2.53 |
Minimum [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Forfeiture rate | ' | 3.20% | 3.00% |
Maximum [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Forfeiture rate | ' | 7.00% | 8.00% |
StockBased_Compensation_Weight
Stock-Based Compensation - Weighted-Average Assumptions Used to Estimate Fair Value of Purchase Rights (Detail) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Dividend yield | ' | ' | ' |
Expected life of options (in years) | '6 years 3 months | '6 years 3 months | '6 years 3 months |
Forfeiture rate | 7.00% | ' | ' |
Minimum [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Forfeiture rate | ' | 3.20% | 3.00% |
Maximum [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Forfeiture rate | ' | 7.00% | 8.00% |
Employees Stock Purchase Plan [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Dividend yield | ' | ' | ' |
Expected volatility, minimum | 51.00% | ' | ' |
Expected volatility, maximum | 56.00% | ' | ' |
Risk-free interest rate, minimum | 0.81% | ' | ' |
Risk-free interest rate, maximum | 1.64% | ' | ' |
Forfeiture rate | 7.00% | ' | ' |
Employees Stock Purchase Plan [Member] | Minimum [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Expected life of options (in years) | '6 months | ' | ' |
Employees Stock Purchase Plan [Member] | Maximum [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Expected life of options (in years) | '7 months 24 days | ' | ' |
Income_Taxes_Schedule_of_Compo
Income Taxes - Schedule of Components of Loss Before Provision for Income Taxes (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Income Tax Disclosure [Abstract] | ' | ' | ' |
United States of America | ($24,197) | ($27,423) | ($17,791) |
International | -11,163 | 1,162 | 507 |
Loss before provision for income taxes | ($35,360) | ($26,261) | ($17,284) |
Income_Taxes_Schedule_of_Compo1
Income Taxes - Schedule of Components of Provision for Income Taxes (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Current income tax provision | ' | ' | ' |
Federal | ' | ' | ' |
State | 26 | 19 | 8 |
Foreign | 557 | 310 | 131 |
Total current income tax provision | 583 | 329 | 139 |
Deferred income tax provision (benefit) | ' | ' | ' |
Federal | ' | ' | ' |
State | ' | ' | ' |
Foreign | -91 | -108 | ' |
Total deferred income tax provision (benefit) | -91 | -108 | ' |
Provision for income taxes | $492 | $221 | $139 |
Income_Taxes_Additional_Inform
Income Taxes - Additional Information (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Schedule Of Income Taxes [Line Items] | ' | ' | ' |
Federal statutory rate on loss before provision for income taxes | 34.00% | ' | ' |
Additional paid-in capital increase | $119 | $192 | ' |
Cumulative ownership percentage | 50.00% | ' | ' |
Cumulative ownership period | '3 years | ' | ' |
Net operating losses | -34,336 | -25,285 | -16,677 |
Valuation allowance against our current deferred tax assets as of December 31 | 1,853 | 1,578 | 6,840 |
Interest or penalties related to unrecognized tax benefits | 0 | 0 | 0 |
Untaxed undistributed earnings of foreign subsidiaries | 1,184 | ' | ' |
Federal [Member] | ' | ' | ' |
Schedule Of Income Taxes [Line Items] | ' | ' | ' |
Net operating losses | 184 | ' | ' |
Net operating loss carryforwards | 77,156 | ' | ' |
Net operating loss carryforwards expiration date | '2026 | ' | ' |
State [Member] | ' | ' | ' |
Schedule Of Income Taxes [Line Items] | ' | ' | ' |
Net operating losses | 214 | ' | ' |
Net operating loss carryforwards | 66,666 | ' | ' |
Net operating loss carryforwards expiration date | '2016 | ' | ' |
Federal Research and Development [Member] | ' | ' | ' |
Schedule Of Income Taxes [Line Items] | ' | ' | ' |
Research and development credits | 2,816 | 0 | ' |
State Research and Development [Member] | ' | ' | ' |
Schedule Of Income Taxes [Line Items] | ' | ' | ' |
Research and development credits | $2,418 | ' | ' |
Income_Taxes_Differences_in_To
Income Taxes - Differences in Total Provision for Income Taxes (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Income Tax Disclosure [Abstract] | ' | ' | ' |
Tax benefit at U.S. statutory rate | ($12,022) | ($8,929) | ($5,877) |
State income taxes, net of federal benefit | 19 | 19 | 8 |
Foreign income and withholding taxes | 4,382 | -184 | -41 |
Stock-based compensation | 863 | 458 | 171 |
Change in valuation allowance | 4,437 | 9,082 | 5,839 |
Research and development credits | -776 | -823 | ' |
Uncertain tax positions | 1,499 | ' | ' |
Provision to return adjustments | 1,894 | 328 | ' |
Other | 196 | 270 | 39 |
Provision for income taxes | $492 | $221 | $139 |
Income_Taxes_Schedule_of_Compo2
Income Taxes - Schedule of Components of Company's Deferred Tax Assets (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
In Thousands, unless otherwise specified | |||
Current | ' | ' | ' |
Accruals and reserves | $1,816 | $1,509 | ' |
Stock-based compensation | 151 | 64 | ' |
Other | -64 | 41 | ' |
Current deferred tax assets | 1,903 | 1,614 | ' |
Valuation allowance | -1,853 | -1,578 | -6,840 |
Total current deferred tax asset, net of valuation allowance | 50 | 36 | ' |
Noncurrent | ' | ' | ' |
Net operating loss | 27,355 | 25,901 | ' |
Accruals and reserves | 149 | 81 | ' |
Research and development credits | 3,391 | 1,622 | ' |
Stock-based compensation | 452 | 192 | ' |
Property and equipment | 914 | 552 | ' |
Other | 94 | ' | ' |
Noncurrent deferred tax assets | 32,355 | 28,348 | ' |
Valuation allowance | -32,205 | -28,276 | ' |
Total non-current deferred tax asset, net of valuation allowance | $150 | $72 | ' |
Income_Taxes_Change_in_Unrecog
Income Taxes - Change in Unrecognized Tax Benefits (Detail) (USD $) | 12 Months Ended |
In Thousands, unless otherwise specified | Dec. 31, 2013 |
Income Tax Disclosure [Abstract] | ' |
Beginning balance | $508 |
Increase in balances related to tax positions taken during the current period | 580 |
Ending balance | $1,088 |
Net_Loss_Per_Share_Available_t2
Net Loss Per Share Available to Common Stockholders - Additional Information (Detail) (USD $) | 12 Months Ended |
In Thousands, unless otherwise specified | Dec. 31, 2013 |
Earnings Per Share [Abstract] | ' |
Loss allocated to convertible preferred stockholders | $0 |
Net_Loss_Per_Share_Available_t3
Net Loss Per Share Available to Common Stockholders - Calculation of Basic and Diluted Net Loss Per Share (Detail) (USD $) | 12 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Numerator: | ' | ' | ' |
Net loss available to common stockholders | ($35,852) | ($26,482) | ($17,423) |
Denominator: | ' | ' | ' |
Weighted average number of shares, basic and diluted | 26,312 | 4,417 | 4,058 |
Net loss per share available to common stockholders | ' | ' | ' |
Basic and diluted net loss per common share available to common stockholders | ($1.36) | ($6) | ($4.29) |
Net_Loss_Per_Share_Available_t4
Net Loss Per Share Available to Common Stockholders - Potential Common Shares Outstanding (Detail) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' |
Potential common shares outstanding | 5,035 | 23,465 | 17,849 |
Convertible Preferred Stock [Member] | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' |
Potential common shares outstanding | ' | 18,753 | 14,470 |
Options to Purchase Common Stock [Member] | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' |
Potential common shares outstanding | 4,855 | 4,314 | 3,000 |
Common Stock Subject to Repurchase [Member] | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' |
Potential common shares outstanding | 180 | 284 | 291 |
Convertible Preferred Stock Warrants [Member] | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' |
Potential common shares outstanding | ' | 51 | 51 |
Common Stock Warrants [Member] | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' |
Potential common shares outstanding | ' | 63 | 37 |
Segment_Reporting_Additional_I
Segment Reporting - Additional Information (Detail) | 12 Months Ended |
Dec. 31, 2013 | |
Segment | |
Segment Reporting [Abstract] | ' |
Number of operating segments | 1 |
Segment_Reporting_Revenues_by_
Segment Reporting - Revenues by Geographic Area, Based on Billing Location of Customer (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' |
Total revenues, net | $77,315 | $59,558 | $36,121 |
Total long-lived assets, net | 14,417 | 9,224 | ' |
United States of America [Member] | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' |
Total revenues, net | 52,725 | 43,429 | 26,673 |
Total long-lived assets, net | 14,050 | 8,839 | ' |
International [Member] | ' | ' | ' |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' |
Total revenues, net | 24,590 | 16,129 | 9,448 |
Total long-lived assets, net | $367 | $385 | ' |
Commitments_and_Contingencies_1
Commitments and Contingencies - Additional Information (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Commitments And Contingencies Disclosure [Abstract] | ' | ' | ' |
Rent expense | $6,811 | $4,741 | $2,373 |
Noncancelable operating leases, minimum year | '2014 | ' | ' |
Noncancelable operating leases, maximum year | '2018 | ' | ' |
Liabilities obligations | $0 | $0 | ' |
Commitments_and_Contingencies_2
Commitments and Contingencies - Annual Future Minimum Payments under Operating Leases (Detail) (USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Commitments And Contingencies Disclosure [Abstract] | ' |
2014 | $5,690 |
2015 | 2,270 |
2016 | 717 |
2017 | 735 |
2018 | 124 |
Future minimum lease payments for significant operating leases | $9,536 |
Employee_Benefit_Plans_Additio
Employee Benefit Plans - Additional Information (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Schedule Of Sale Of Subsidiary [Abstract] | ' | ' | ' |
Employer contributions to employee benefit plans | $0 | $0 | $0 |
Related_Party_Transactions_Add
Related Party Transactions - Additional Information (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Related Party Transactions [Abstract] | ' | ' | ' |
Total revenues through subscription agreements | $163 | $79 | $0 |
Subsequent_Events_Additional_I
Subsequent Events - Additional Information (Detail) | 12 Months Ended | 2 Months Ended | 0 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Feb. 28, 2014 | Jan. 02, 2014 | Jan. 02, 2014 |
Equity Incentive Plan [Member] | Subsequent Events [Member] | Subsequent Events [Member] | Subsequent Events [Member] | |
Equity Incentive Plan [Member] | Employees Stock Purchase Plan [Member] | |||
Subsequent Event [Line Items] | ' | ' | ' | ' |
Stock options, granted | ' | 86 | ' | ' |
Stock options, vest period | '10 years | '4 years | ' | ' |
Shares available for issuance increased | ' | ' | 1,648 | 329 |