Document_and_Entity_Informatio
Document and Entity Information | 6 Months Ended | |
Jun. 30, 2014 | Jul. 31, 2014 | |
Document And Entity Information [Abstract] | ' | ' |
Document Type | '10-Q | ' |
Amendment Flag | 'false | ' |
Document Period End Date | 30-Jun-14 | ' |
Document Fiscal Year Focus | '2014 | ' |
Document Fiscal Period Focus | 'Q2 | ' |
Trading Symbol | 'MRIN | ' |
Entity Registrant Name | 'MARIN SOFTWARE INC | ' |
Entity Central Index Key | '0001389002 | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Filer Category | 'Non-accelerated Filer | ' |
Entity Common Stock, Shares Outstanding | ' | 34,806,733 |
Condensed_Consolidated_Balance
Condensed Consolidated Balance Sheets (USD $) | Jun. 30, 2014 | Dec. 31, 2013 | |
In Thousands, unless otherwise specified | |||
Current assets | ' | ' | |
Cash and cash equivalents | $83,922 | $104,407 | [1] |
Accounts receivable, net | 16,921 | 14,921 | [1] |
Prepaid expenses and other current assets | 3,591 | 2,695 | [1] |
Total current assets | 104,434 | 122,023 | [1] |
Property and equipment, net | 13,519 | 14,417 | [1] |
Intangible assets, net | 8,368 | ' | |
Goodwill | 11,593 | ' | |
Other noncurrent assets | 838 | 937 | [1] |
Total assets | 138,752 | 137,377 | [1] |
Current liabilities | ' | ' | |
Accounts payable | 2,176 | 1,018 | [1] |
Accrued expenses and other current liabilities | 11,715 | 10,950 | [1] |
Deferred revenues | 1,499 | 2,566 | [1] |
Current portion of long-term debt | 2,929 | 3,253 | [1] |
Total current liabilities | 18,319 | 17,787 | [1] |
Long-term debt, less current portion | 1,721 | 2,962 | [1] |
Other long-term liabilities | 1,011 | 1,284 | [1] |
Total liabilities | 21,051 | 22,033 | [1] |
Stockholders' equity | ' | ' | |
Common stock, $0.001 par value - 500,000 shares authorized, 35,513 and 33,133 shares issued, 34,772 and 32,953 outstanding at June 30, 2014, and December 31, 2013, respectively | 35 | 33 | [1] |
Additional paid-in capital | 245,748 | 228,512 | [1] |
Accumulated deficit | -128,298 | -113,201 | [1] |
Accumulated other comprehensive income | 216 | ' | |
Total stockholders' equity | 117,701 | 115,344 | [1] |
Total liabilities and stockholders' equity | $138,752 | $137,377 | [1] |
[1] | Derived from our audited consolidated financial statements as of December 31, 2013. |
Condensed_Consolidated_Balance1
Condensed Consolidated Balance Sheets (Parenthetical) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, except Per Share data, unless otherwise specified | ||
Statement Of Financial Position [Abstract] | ' | ' |
Common stock, par value | $0.00 | $0.00 |
Common stock, shares authorized | 500,000 | 500,000 |
Common stock, shares issued | 35,513 | 33,133 |
Common stock, shares outstanding | 34,772 | 32,953 |
Condensed_Consolidated_Stateme
Condensed Consolidated Statements of Comprehensive Loss (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Revenues, net | $23,853 | $18,218 | $46,669 | $35,373 |
Cost of revenues | 8,763 | 7,696 | 17,146 | 15,068 |
Gross profit | 15,090 | 10,522 | 29,523 | 20,305 |
Operating expenses | ' | ' | ' | ' |
Sales and marketing | 11,978 | 10,350 | 23,966 | 20,809 |
Research and development | 6,627 | 4,904 | 12,710 | 9,983 |
General and administrative | 5,368 | 4,026 | 9,786 | 8,074 |
Total operating expenses | 23,973 | 19,280 | 46,462 | 38,866 |
Loss from operations | -8,883 | -8,758 | -16,939 | -18,561 |
Interest expense, net | -62 | -109 | -128 | -293 |
Other expenses, net | -286 | -81 | -281 | -489 |
Loss before benefit from (provision for) income taxes | -9,231 | -8,948 | -17,348 | -19,343 |
Benefit from (provision for) income taxes | 2,440 | -149 | 2,252 | -255 |
Net loss | -6,791 | -9,097 | -15,096 | -19,598 |
Foreign currency translation adjustments | 87 | ' | 216 | ' |
Comprehensive loss | -6,704 | -9,097 | -14,880 | -19,598 |
Net loss per share available to common stockholders, basic and diluted | ($0.20) | ($0.28) | ($0.45) | ($0.99) |
Weighted-average shares used to compute net loss per share available to common stockholders, basic and diluted | 33,771 | 32,237 | 33,563 | 19,871 |
Amortization of intangible assets is allocated as follows (Note 4): | ' | ' | ' | ' |
Amortization of intangible assets | 162 | 0 | 162 | 0 |
Cost of Revenues [Member] | ' | ' | ' | ' |
Stock-based compensation is allocated as follows (Note 9): | ' | ' | ' | ' |
Allocation of stock-based compensation | 192 | 245 | 403 | 450 |
Amortization of intangible assets is allocated as follows (Note 4): | ' | ' | ' | ' |
Amortization of intangible assets | 57 | 0 | 57 | 0 |
Sales and Marketing [Member] | ' | ' | ' | ' |
Stock-based compensation is allocated as follows (Note 9): | ' | ' | ' | ' |
Allocation of stock-based compensation | 449 | 361 | 852 | 654 |
Amortization of intangible assets is allocated as follows (Note 4): | ' | ' | ' | ' |
Amortization of intangible assets | 37 | 0 | 37 | 0 |
Research and Development [Member] | ' | ' | ' | ' |
Stock-based compensation is allocated as follows (Note 9): | ' | ' | ' | ' |
Allocation of stock-based compensation | 649 | 303 | 1,086 | 611 |
Amortization of intangible assets is allocated as follows (Note 4): | ' | ' | ' | ' |
Amortization of intangible assets | 57 | 0 | 57 | 0 |
General and Administrative [Member] | ' | ' | ' | ' |
Stock-based compensation is allocated as follows (Note 9): | ' | ' | ' | ' |
Allocation of stock-based compensation | 651 | 400 | 1,097 | 819 |
Amortization of intangible assets is allocated as follows (Note 4): | ' | ' | ' | ' |
Amortization of intangible assets | $11 | $0 | $11 | $0 |
Condensed_Consolidated_Stateme1
Condensed Consolidated Statements of Cash Flows (USD $) | 6 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | |
Operating activities | ' | ' | |
Net loss | ($15,096) | ($19,598) | |
Adjustments to reconcile net loss to net cash used in operating activities | ' | ' | |
Depreciation | 2,717 | 2,129 | |
Amortization of internally developed software | 910 | 483 | |
Amortization of intangible assets | 162 | 0 | |
Noncash interest expense related to warrants issued in connection with debt | 92 | 383 | |
Stock-based compensation | 3,438 | 2,534 | |
Loss on disposal of property and equipment | 14 | ' | |
Provision for bad debt | 287 | 114 | |
Deferred income tax benefits | -2,802 | ' | |
Excess tax benefits from stock-based award activities | -65 | -37 | |
Other noncash expenses | 268 | ' | |
Changes in operating assets and liabilities | ' | ' | |
Accounts receivable | -1,913 | 665 | |
Prepaid expenses and other current assets | -803 | -1,514 | |
Other assets | 252 | 16 | |
Accounts payable | 524 | -826 | |
Deferred revenues | -1,061 | 3,139 | |
Accrued expenses and other liabilities | -1,167 | 1,879 | |
Net cash used in operating activities | -14,243 | -10,633 | |
Investing activities | ' | ' | |
Purchases of property and equipment | -1,405 | -2,934 | |
Capitalization of internally developed software | -1,346 | -1,548 | |
Acquisition of business, net of cash acquired | -4,151 | ' | |
Net cash used in investing activities | -6,902 | -4,482 | |
Financing activities | ' | ' | |
Proceeds from issuance of common stock in initial public offering, net of issuance costs | ' | 109,454 | |
Proceeds from issuance of note payable, net of issuance costs | ' | 1,718 | |
Repayment of note payable | -1,657 | -8,034 | |
Repurchase of unvested shares | -6 | -45 | |
Proceeds from exercise of common stock options | 1,532 | 1,024 | |
Proceeds from employee stock purchase plan | 726 | ' | |
Excess tax benefits from stock-based award activities | 65 | 37 | |
Net cash provided by financing activities | 660 | 104,154 | |
Net (decrease) increase in cash and cash equivalents | -20,485 | 89,039 | |
Cash and cash equivalents | ' | ' | |
Beginning of period | 104,407 | [1] | 31,540 |
End of period | 83,922 | 120,579 | |
Supplemental disclosure of noncash investing and financing activities | ' | ' | |
Accounts payable related purchases of property and equipment | 110 | 1,661 | |
Acquisition of equipment through capital lease | ' | 1,204 | |
Conversion of convertible preferred stock to common stock | ' | 105,710 | |
Conversion of warrant to purchase convertible preferred stock to common stock warrant | ' | 745 | |
Issuance of common stock under employee stock purchase plan | 715 | ' | |
Issuance of common stock in connection with business acquisition | 11,195 | ' | |
Unpaid deferred initial public offering costs | ' | $49 | |
[1] | Derived from our audited consolidated financial statements as of December 31, 2013. |
Summary_of_Business_and_Signif
Summary of Business and Significant Accounting Policies | 6 Months Ended | ||||
Jun. 30, 2014 | |||||
Accounting Policies [Abstract] | ' | ||||
Summary of Business and Significant Accounting Policies | ' | ||||
1. Summary of Business and Significant Accounting Policies | |||||
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, London, Dublin, Hamburg, Paris, Tokyo, Singapore, Sydney and Shanghai. | |||||
Basis of Presentation and Consolidation | |||||
The accompanying unaudited condensed consolidated financial statements and condensed footnotes have been prepared in accordance with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of management, all adjustments, consisting of only normal recurring items, considered necessary for fair statement have been included. The results of operations for the three and six months ended June 30, 2014 are not necessarily indicative of the results to be expected for the year ended December 31, 2014 or for other interim periods or for future years. | |||||
The accompanying unaudited condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All significant intercompany accounts and transactions have been eliminated on consolidation. The condensed consolidated balance sheet as of December 31, 2013 is derived from audited financial statements as of that date but does not include all of the information and footnotes required by accounting principles generally accepted in the United States for complete financial statements. These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and related notes included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2013 filed with the Securities and Exchange Commission (“SEC”) on February 28, 2014. | |||||
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 Company adopted the standard update in the first quarter of 2014, and its adoption had no impact on the Company’s consolidated results of operations or financial condition. | |||||
In June 2014, the FASB issued Accounting Standards Update (“ASU”) 2014-12, Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period. The guidance requires that a performance target that affects vesting and could be achieved after the requisite service period be treated as a performance condition. A reporting entity should apply existing guidance as it relates to such awards. This guidance is effective for us in our first quarter of fiscal year ending December 31, 2017. We are currently evaluating the impact of our pending adoption of this ASU on the Company’s consolidated financial statements. | |||||
In May 2014, the FASB issued Accounting Standards Update 2014-09, Revenue from Contracts with Customers, which provides guidance for revenue recognition. The standard’s core principle is that a company will recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services. In doing so, companies will need to use more judgment and make more estimates when compared with the current guidance. These may include identifying performance obligations in the contract, estimating the amount of variable consideration to include in the transaction price and allocating the transaction price to each separate performance obligation. This guidance will be effective for the Company in the first quarter of its fiscal year ending December 31, 2017. The Company is currently in the process of evaluating the impact of pending adoption of this ASU on the Company’s consolidated financial statements. | |||||
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 $75,008 and $98,987 as of June 30, 2014 and December 31, 2013, 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. 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. | |||||
The Company’s cash equivalents as of June 30, 2014 and December 31, 2013 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 June 30, 2014 and December 31, 2013. | |||||
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 the six months ended June 30, 2013. There were no changes in the preferred stock warrant obligation during the six months ended June 30, 2014, as the underlying warrants were no longer outstanding subsequent to the Company’s initial public offering. | |||||
Six Months Ended | |||||
June 30, 2013 | |||||
Balances at beginning of period | $ | 507 | |||
Change in estimated fair value of warrant | 238 | ||||
Conversion to common stock warrant | (745 | ) | |||
Balances at end of period | $ | — | |||
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. | |||||
From time to time the Company provides revenue credits to customers and an allowance is made based on historical credit activity. As of June 30, 2014 and December 31, 2013, the Company recorded an allowance for potential customer credits in the amount of $264 and $349, 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. | |||||
Internally Developed 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 internally developed 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. The Company capitalized internally developed software costs of $729 and $916 during the three months ended June 30, 2014 and 2013, respectively, and $1,346 and $1,548 during the six months ended June 30, 2014 and 2013, respectively. Amortization of capitalized costs related to internally developed software for the three months ended June 30, 2014 and 2013 was $465 and $256, respectively, and for the six months ended June 30, 2014 and 2013 was $910 and $483, respectively. As of June 30, 2014 and December 31, 2013, unamortized internally developed software costs totaled $4,672 and $4,236, respectively. Amortization of internally developed software is reflected in cost of revenues. Costs associated with minor enhancement and maintenance are expensed as incurred. | |||||
Goodwill, Intangible Assets and Impairment Assessments | |||||
Goodwill represents the excess of the purchase price in a business combination over the fair value of net tangible and intangible assets acquired. Intangible assets that are not considered to have an indefinite useful life are amortized over their useful lives, which generally range from two to six years. Estimated remaining useful lives of purchased intangible assets are evaluated to assess whether events or changes in circumstances warrant a revision to the remaining periods of amortization. The carrying amounts of these assets will be periodically reviewed for impairment (at least annually for goodwill and indefinite lived intangible assets) and whenever events or changes in circumstances indicate that the carrying value of these assets may not be recoverable. | |||||
Revenue Recognition | |||||
The Company generates revenues principally from subscriptions to its search, social and display advertising management platforms 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 total 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. | |||||
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, costs associated with website development activities, allocated overhead, amortization expense associated with capitalized internal use software and intangible assets 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 stock option 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 option awards to employees and non-employees. In applying the Black-Scholes option pricing model, the Company’s determination of the fair value of the stock option award on the date of grant is affected by the Company’s fair value of its 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 and the optionholders’ actual and projected stock option exercise and employment termination behaviors. | |||||
Restricted stock units (“RSUs”) are measured based on the fair market values of the underlying common stock on the dates of grant. Shares of common stock are issued on the vesting dates net of the minimum statutory tax withholding requirements to be paid by the Company on behalf of the Company’s employees. As a result, the actual number of shares of common stock issued will be fewer than the actual number of outstanding RSUs. | |||||
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. Non-employee stock-based compensation expense was not material for all periods presented. | |||||
See Note 9 for further information. |
Business_Combinations
Business Combinations | 6 Months Ended |
Jun. 30, 2014 | |
Business Combinations [Abstract] | ' |
Business Combinations | ' |
2. Business Combinations | |
On June 2, 2014, pursuant to the terms of an Agreement and Plan of Reorganization, a wholly-owned subsidiary of the Company merged with and into NowSpots, Inc., which conducted business as Perfect Audience (“Perfect Audience”), with NowSpots, Inc. surviving as a wholly-owned subsidiary of the Company. Perfect Audience specializes in display and social network ad retargeting, and its programmatic display and social advertising functions will expand the Company’s cross-channel capabilities. | |
The acquisition was accounted for under the acquisition method of accounting in which the tangible and identifiable intangible assets and liabilities of Perfect Audience were recorded at their respective fair values as of the acquisition date, including an amount for goodwill representing the difference between the respective acquisition consideration and fair values of identifiable net assets. The fair value of assets acquired and liabilities assumed was recorded based on a preliminary valuation and the Company’s estimates and assumptions are subject to change within the measurement period. The primary areas of the purchase price allocation that are not yet finalized are related to the fair values of intangible assets acquired and residual goodwill. | |
The total purchase price for the acquisition was $16,470, which consisted of 1,119 shares of the Company’s common stock valued at the closing date, and $5,275 in cash. Of the total purchase price, $4,777 was attributed to fair value of net liabilities assumed, $1,124 was cash acquired, and $8,530 was the fair value of intangible assets acquired with $11,593 as residual goodwill. The goodwill is primarily attributable to the synergies expected to arise after the acquisition and is not expected to be deductible for tax purposes. | |
In addition, the Company issued 630 shares of common stock (with a closing date fair value of $6,301) to existing Perfect Audience employees in connection with the acquisition, which are conditioned upon such employees’ continuous employment with the Company. These shares have been excluded from the purchase consideration and will be recognized as post-acquisition stock-based compensation expense. The Company recognizes compensation expense equal to the grant date fair value of the common stock on a straight-line basis over the employee’s requisite service period. |
Balance_Sheet_Components
Balance Sheet Components | 6 Months Ended | ||||||||
Jun. 30, 2014 | |||||||||
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 the dates presented: | |||||||||
June 30, | December 31, | ||||||||
2014 | 2013 | ||||||||
Computer equipment | $ | 16,899 | $ | 16,314 | |||||
Software | 9,058 | 7,690 | |||||||
Office equipment | 706 | 571 | |||||||
Furniture, fixtures and leasehold improvements | 1,974 | 1,861 | |||||||
28,637 | 26,436 | ||||||||
Less: Accumulated depreciation and amortization | (15,118 | ) | (12,019 | ) | |||||
$ | 13,519 | $ | 14,417 | ||||||
Depreciation and amortization of internally developed software for the six months ended June 30, 2014 and 2013 was $3,627 and $2,612, respectively. | |||||||||
The following table shows the components of accrued expenses and other current liabilities as of the dates presented: | |||||||||
June 30, | December 31, | ||||||||
2014 | 2013 | ||||||||
Accrued salary and payroll related expenses | $ | 5,850 | $ | 6,675 | |||||
Accrued accounts payable | 3,399 | 2,773 | |||||||
Customer advances | 1,213 | — | |||||||
Income tax payable | 501 | 434 | |||||||
Sales and use tax payable | 256 | 466 | |||||||
Other | 496 | 602 | |||||||
$ | 11,715 | $ | 10,950 | ||||||
Goodwill_and_Intangible_Assets
Goodwill and Intangible Assets | 6 Months Ended | ||||||
Jun. 30, 2014 | |||||||
Goodwill And Intangible Assets Disclosure [Abstract] | ' | ||||||
Goodwill and Intangible Assets | ' | ||||||
4. Goodwill and Intangible Assets | |||||||
The goodwill balance as of June 30, 2014 totaling $11,593 was the result of the business acquisition disclosed in Note 2 of these condensed consolidated financial statements. | |||||||
Intangible assets, excluding goodwill, consisted of the following: | |||||||
June 30, | Estimated | ||||||
2014 | Useful Life | ||||||
Developed technology | $ | 6,110 | 6 years | ||||
Customer relationships | 1,290 | 4 years | |||||
Non-compete agreements and tradename | 1,130 | 2 - 3 years | |||||
8,530 | |||||||
Less: accumulated amortization | (162 | ) | |||||
$ | 8,368 | ||||||
Amortization expense of intangible assets was $162 and $0 for the three and six months ended June 30, 2014 and 2013, respectively. | |||||||
Future estimated amortization of intangible assets as of June 30, 2014 is presented below: | |||||||
Remaining six months of 2014 | $ | 969 | |||||
Year ending December 31, 2015 | 1,938 | ||||||
Year ending December 31, 2016 | 1,714 | ||||||
Year ending December 31, 2017 | 1,483 | ||||||
Year ending December 31, 2018 and thereafter | 2,264 | ||||||
$ | 8,368 | ||||||
Debt
Debt | 6 Months Ended | ||||
Jun. 30, 2014 | |||||
Debt Disclosure [Abstract] | ' | ||||
Debt | ' | ||||
5. Debt | |||||
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 June 30, 2014 and December 31, 2013, the net book value of the equipment under the capital lease was $1,967 and $2,495, respectively, and the remaining principal balance payable was $2,070 and $2,598, respectively. | |||||
In September 2013, the Company entered into an amendment to its existing 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 while the Company’s unrestricted cash balance exceeds $50,000. | |||||
The maturities of all outstanding debt, including the capital lease arrangement, as of June 30, 2014 are as follows: | |||||
Years Ending | |||||
2014 | $ | 1,596 | |||
2015 | 2,464 | ||||
2016 | 652 | ||||
4,712 | |||||
Less: | |||||
Current portion | (2,929 | ) | |||
Discount on long-term debt | (62 | ) | |||
Noncurrent portion of debt | $ | 1,721 | |||
Convertible_Preferred_Stock
Convertible Preferred Stock | 6 Months Ended |
Jun. 30, 2014 | |
Equity [Abstract] | ' |
Convertible Preferred Stock | ' |
6. Convertible Preferred Stock | |
All 18,753 shares of outstanding preferred stock were automatically converted into fully paid shares of common stock immediately prior to the closing of the Company’s initial public offering on March 27, 2013. Upon the occurrence of this conversion event, the outstanding warrant to purchase Series B convertible preferred stock converted into a warrant to purchase common stock. All of the outstanding shares of preferred stock converted into common stock at the conversion rate of 1:1. |
Common_Stock
Common Stock | 6 Months Ended | ||||||||
Jun. 30, 2014 | |||||||||
Equity [Abstract] | ' | ||||||||
Common Stock | ' | ||||||||
7. Common Stock | |||||||||
As of June 30, 2014 and December 31, 2013, the Company was authorized to issue 500,000 shares of $0.001 par value common stock. Reserved shares of common stock are as follows: | |||||||||
June 30, | December 31, | ||||||||
2014 | 2013 | ||||||||
Options available for future grant | 3,925 | 4,585 | |||||||
Options outstanding | 6,260 | 4,855 | |||||||
RSUs outstanding | 363 | — | |||||||
Shares available for future issuance under ESPP | 1,094 | 854 | |||||||
11,642 | 10,294 | ||||||||
Equity_Award_Plans
Equity Award Plans | 6 Months Ended | ||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||
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 of common stock are subject to repurchase by the Company at the initial exercise price. The proceeds from the shares of common stock 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 had the right to repurchase 116 and 180 shares of common stock as of June 30, 2014 and December 31, 2013, respectively. The Company records cash received from the exercise of unvested stock options as a long-term liability. As of June 30, 2014 and December 31, 2013, $837 and $1,215, respectively, has been recorded as a long-term liability in the condensed consolidated balance sheets. | |||||||||||||||||
In February 2013, the Company’s Board of Directors and stockholders approved the 2013 Equity Incentive Plan (“2013 Plan”), under which 4,500 shares of common stock were originally 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, RSUs, 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 of common stock reserved under the 2013 Equity Incentive Plan will automatically increase by an amount equal to 5% of the total outstanding shares as of immediately preceding December 31, or such lesser number of shares as determined by the Company’s Board of Directors. Under the terms of the 2013 Plan, the shares available for issuance increased by approximately 1,648 shares of common stock on January 1, 2014. | |||||||||||||||||
Stock Options | |||||||||||||||||
A summary of stock option activity under the 2006 Plan and 2013 Plan is as follows: | |||||||||||||||||
Options Outstanding | |||||||||||||||||
Number of | Weighted | Weighted | Aggregate | ||||||||||||||
Shares | Average | Average | Intrinsic | ||||||||||||||
Exercise | Remaining | Value | |||||||||||||||
Price Per Share | Contractual | ||||||||||||||||
Term | |||||||||||||||||
(in Years) | |||||||||||||||||
Balances at December 31, 2013 | 4,855 | $ | 6.56 | 7.85 | $ | 20,593 | |||||||||||
Options granted | 2,485 | 9.73 | 9.86 | ||||||||||||||
Options exercised | (541 | ) | 2.83 | — | |||||||||||||
Options forfeited and cancelled | (539 | ) | 9.12 | — | |||||||||||||
Balances at June 30, 2014 | 6,260 | $ | 7.92 | 8.23 | $ | 24,585 | |||||||||||
Options exercisable as of June 30, 2014 | 3,313 | $ | 6.09 | 6.96 | $ | 19,143 | |||||||||||
Options vested as of June 30, 2014 | 2,281 | $ | 4.89 | 6.45 | $ | 15,854 | |||||||||||
Options vested and expected to vest as of June 30, 2014 | 5,832 | $ | 7.78 | 8.14 | $ | 23,748 | |||||||||||
RSUs | |||||||||||||||||
A summary of RSUs granted and unvested under the 2013 Plan as of June 30, 2014 is as follows: | |||||||||||||||||
RSUs Outstanding | |||||||||||||||||
Number | Weighted Average | ||||||||||||||||
of RSUs | Fair Value | ||||||||||||||||
Per Unit | |||||||||||||||||
Granted and unvested at December 31, 2013 | — | $ | — | ||||||||||||||
RSUs granted | 363 | 10.36 | |||||||||||||||
RSUs vested | — | — | |||||||||||||||
RSUs forfeited | — | — | |||||||||||||||
Granted and unvested at June 30, 2014 | 363 | $ | 10.36 | ||||||||||||||
Employee Stock Purchase Plan | |||||||||||||||||
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 of common stock were originally 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 common 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. Under the terms of the 2013 ESPP, the shares available for issuance increased by approximately 329 shares on January 1, 2014. During the three and six months ended June 30, 2014, 90 shares were issued under the 2013 ESPP. During the three and six months ended June 30, 2013, no shares were issued under the 2013 ESPP. |
StockBased_Compensation
Stock-Based Compensation | 6 Months Ended | ||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' | ||||||||||||||||
Stock-Based Compensation | ' | ||||||||||||||||
9. Stock-Based Compensation | |||||||||||||||||
For stock-based awards 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 $1,941 and $1,309 for the three months ended June 30, 2014 and 2013, respectively, and $3,438 and $2,534 for the six months ended June 30, 2014 and 2013, respectively. | |||||||||||||||||
Stock Options | |||||||||||||||||
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 volatility, risk-free interest rate, and the expected life of options. The Company used the following assumptions: | |||||||||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
Dividend yield | — | — | — | — | |||||||||||||
Expected volatility | 51.3 | % | 55.8 | % | 51.3 | % | 55.8 | % | |||||||||
Risk-free interest rate | 1.92 | % | 0.89 | % | 1.92 | % | 1.1 | % | |||||||||
Expected life of options (in years) | 6.25 | 6.25 | 6.25 | 6.25 | |||||||||||||
Forfeiture rate | 7 | % | 7 | % | 7 | % | 7 | % | |||||||||
As the Company has limited historical option exercise data, the expected term of the stock options granted to employees 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 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 $1,532 and $1,024 for the six months ended June 30, 2014 and 2013, respectively. | |||||||||||||||||
Compensation expense is recognized ratably over the requisite service period. As of June 30, 2014, there was $19,715 of unrecognized compensation cost related to options, which is expected to be recognized over a weighted-average period of 3.1 years. | |||||||||||||||||
Given the lack of a public market for the Company’s outstanding common and preferred stock through March 27, 2013, 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 Company’s 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. Subsequent to the closing of the Company’s initial public offering, the Company has used the closing price of the Company’s common stock on the date of the stock option grant as the fair value of the Company’s common stock and the exercise price of the stock options. | |||||||||||||||||
Restricted Stock and RSUs | |||||||||||||||||
As of June 30, 2014, there was $8,529 of unrecognized compensation cost related to restricted stock and RSUs, which is expected to be recognized over a weighted-average period of 2.1 years. The Company uses the fair market value of the underlying common stock on the dates of grant to determine the fair value of restricted stock and RSUs. Stock-based compensation expense related to these awards are recognized on a straight-line basis over the service period of the award for the estimated number of shares that are ultimately expected to vest. | |||||||||||||||||
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 assumptions substantially similar to those used for the valuation of our stock option awards. |
Income_Taxes
Income Taxes | 6 Months Ended |
Jun. 30, 2014 | |
Income Tax Disclosure [Abstract] | ' |
Income Taxes | ' |
10. Income Taxes | |
The Company’s quarterly provision for income taxes is based on an estimated effective annual income tax rate. The Company’s quarterly provision for income taxes also includes the tax impact of certain unusual or infrequently occurring items, if any, including changes in judgment about valuation allowances and effects of changes in tax laws or rates, in the interim period in which they occur. | |
The income tax benefit for the three months ended June 30, 2014 was $2,440 on a pre-tax loss of $9,231 and for the six months ended June 30, 2014 was $2,252 on a pre-tax loss of $17,348. Income tax expense for the three months ended June 30, 2013 was $149 on a pre-tax loss of $8,948 and for the six months ended June 30, 2013 was $255 on a pre-tax loss of $19,343. The benefit recorded for the three and six months ended June 30, 2014 was primarily attributable to a decrease in our valuation allowances of $2,603 due to deferred tax liabilities recorded as part of our acquisition of Perfect Audience. As of June 30, 2014, the income tax rate varies from the United States statutory income tax rate primarily due to valuation allowances in the United States and taxable income generated by the Company’s foreign wholly-owned subsidiaries. | |
The Company reviews the likelihood that it will realize the benefit of its deferred tax assets and, therefore, the need for valuation allowances on a quarterly basis. There is no corresponding income tax benefit recognized with respect to losses incurred and no corresponding income tax expense recognized with respect to earnings generated in jurisdictions with a valuation allowance. This causes variability in the Company’s effective tax rate. The Company will maintain the valuation allowances until it is more likely than not that the net deferred tax assets will be realized. | |
As of June 30, 2014, the Company’s gross uncertain tax benefits totaled $1,088. As of June 30, 2014, none of the Company’s uncertain tax benefits, including related accrued interest and penalties, would affect the Company’s effective tax rate if recognized. |
Net_Loss_Per_Share_Available_t
Net Loss Per Share Available to Common Stockholders | 6 Months Ended | ||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||
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 preferred stockholders did not have the contractual obligations to share in the losses of the Company, no loss was 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, stock options that were exercised prior to vesting, restricted stock issued and RSUs settled for shares of common stock 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, stock options to purchase common stock, restricted common stock issued, RSUs settled for shares of common stock, 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: | |||||||||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
Numerator: | |||||||||||||||||
Net loss | $ | (6,791 | ) | $ | (9,097 | ) | $ | (15,096 | ) | $ | (19,598 | ) | |||||
Denominator: | |||||||||||||||||
Weighted average number of shares, basic and diluted | 33,771 | 32,237 | 33,563 | 19,871 | |||||||||||||
Net loss per share available to common stockholders | |||||||||||||||||
Basic and diluted net loss per common share available to common stockholders | $ | (0.20 | ) | $ | (0.28 | ) | $ | (0.45 | ) | $ | (0.99 | ) | |||||
The following table presents the potential shares of common stock 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: | |||||||||||||||||
Three and Six Months Ended June 30, | |||||||||||||||||
2014 | 2013 | ||||||||||||||||
Options to purchase common stock | 6,260 | 4,993 | |||||||||||||||
Restricted stock units | 363 | — | |||||||||||||||
Restricted common stock | 630 | — | |||||||||||||||
Common stock subject to repurchase | 116 | 252 | |||||||||||||||
7,369 | 5,245 | ||||||||||||||||
Segment_Reporting
Segment Reporting | 6 Months Ended | ||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||
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 reportable and operating segment. | |||||||||||||||||
Revenues by geographic area, based on the billing location of the customer, were as follows: | |||||||||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
United States of America | $ | 15,800 | $ | 12,645 | $ | 30,680 | $ | 24,623 | |||||||||
International | 8,053 | 5,573 | 15,989 | 10,750 | |||||||||||||
Total revenues, net | $ | 23,853 | $ | 18,218 | $ | 46,669 | $ | 35,373 | |||||||||
Long-lived assets by geographic area were as follows: | |||||||||||||||||
June 30, | December 31, | ||||||||||||||||
2014 | 2013 | ||||||||||||||||
United States of America | $ | 12,864 | $ | 14,050 | |||||||||||||
International | 655 | 367 | |||||||||||||||
Total long-lived assets, net | $ | 13,519 | $ | 14,417 | |||||||||||||
Commitments_and_Contingencies
Commitments and Contingencies | 6 Months Ended | ||||
Jun. 30, 2014 | |||||
Commitments And Contingencies Disclosure [Abstract] | ' | ||||
Commitments and Contingencies | ' | ||||
13. Commitments and Contingencies | |||||
Operating Leases | |||||
Rent expense for the three months ended June 30, 2014 and 2013 was $1,866 and $1,648, respectively, and for the six months ended June 30, 2014 and 2013 was $3,789 and $3,264, respectively. | |||||
Future minimum lease payments for significant operating leases as of June 30, 2014 were as follows: | |||||
Periods Ending December 31, | |||||
2014 | $ | 3,084 | |||
2015 | 2,400 | ||||
2016 | 817 | ||||
2017 | 819 | ||||
2018 and thereafter | 243 | ||||
$ | 7,363 | ||||
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 U.S. generally accepted accounting principles (“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 was 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 June 30, 2014 and December 31, 2013. | |||||
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 June 30, 2014 and December 31, 2013. | |||||
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. |
Summary_of_Business_and_Signif1
Summary of Business and Significant Accounting Policies (Policies) | 6 Months Ended | ||||
Jun. 30, 2014 | |||||
Accounting Policies [Abstract] | ' | ||||
Basis of Presentation and Consolidation | ' | ||||
Basis of Presentation and Consolidation | |||||
The accompanying unaudited condensed consolidated financial statements and condensed footnotes have been prepared in accordance with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of management, all adjustments, consisting of only normal recurring items, considered necessary for fair statement have been included. The results of operations for the three and six months ended June 30, 2014 are not necessarily indicative of the results to be expected for the year ended December 31, 2014 or for other interim periods or for future years. | |||||
The accompanying unaudited condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All significant intercompany accounts and transactions have been eliminated on consolidation. The condensed consolidated balance sheet as of December 31, 2013 is derived from audited financial statements as of that date but does not include all of the information and footnotes required by accounting principles generally accepted in the United States for complete financial statements. These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and related notes included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2013 filed with the Securities and Exchange Commission (“SEC”) on February 28, 2014. | |||||
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 Company adopted the standard update in the first quarter of 2014, and its adoption had no impact on the Company’s consolidated results of operations or financial condition. | |||||
In June 2014, the FASB issued Accounting Standards Update (“ASU”) 2014-12, Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period. The guidance requires that a performance target that affects vesting and could be achieved after the requisite service period be treated as a performance condition. A reporting entity should apply existing guidance as it relates to such awards. This guidance is effective for us in our first quarter of fiscal year ending December 31, 2017. We are currently evaluating the impact of our pending adoption of this ASU on the Company’s consolidated financial statements. | |||||
In May 2014, the FASB issued Accounting Standards Update 2014-09, Revenue from Contracts with Customers, which provides guidance for revenue recognition. The standard’s core principle is that a company will recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services. In doing so, companies will need to use more judgment and make more estimates when compared with the current guidance. These may include identifying performance obligations in the contract, estimating the amount of variable consideration to include in the transaction price and allocating the transaction price to each separate performance obligation. This guidance will be effective for the Company in the first quarter of its fiscal year ending December 31, 2017. The Company is currently in the process of evaluating the impact of pending adoption of this ASU on the Company’s consolidated financial statements. | |||||
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 $75,008 and $98,987 as of June 30, 2014 and December 31, 2013, 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. 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. | |||||
The Company’s cash equivalents as of June 30, 2014 and December 31, 2013 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 June 30, 2014 and December 31, 2013. | |||||
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 the six months ended June 30, 2013. There were no changes in the preferred stock warrant obligation during the six months ended June 30, 2014, as the underlying warrants were no longer outstanding subsequent to the Company’s initial public offering. | |||||
Six Months Ended | |||||
June 30, 2013 | |||||
Balances at beginning of period | $ | 507 | |||
Change in estimated fair value of warrant | 238 | ||||
Conversion to common stock warrant | (745 | ) | |||
Balances at end of period | $ | — | |||
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. | |||||
From time to time the Company provides revenue credits to customers and an allowance is made based on historical credit activity. As of June 30, 2014 and December 31, 2013, the Company recorded an allowance for potential customer credits in the amount of $264 and $349, 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. | |||||
Internally Developed Software | ' | ||||
Internally Developed 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 internally developed 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. The Company capitalized internally developed software costs of $729 and $916 during the three months ended June 30, 2014 and 2013, respectively, and $1,346 and $1,548 during the six months ended June 30, 2014 and 2013, respectively. Amortization of capitalized costs related to internally developed software for the three months ended June 30, 2014 and 2013 was $465 and $256, respectively, and for the six months ended June 30, 2014 and 2013 was $910 and $483, respectively. As of June 30, 2014 and December 31, 2013, unamortized internally developed software costs totaled $4,672 and $4,236, respectively. Amortization of internally developed software is reflected in cost of revenues. Costs associated with minor enhancement and maintenance are expensed as incurred. | |||||
Goodwill, Intangible Assets and Impairment Assessments | ' | ||||
Goodwill, Intangible Assets and Impairment Assessments | |||||
Goodwill represents the excess of the purchase price in a business combination over the fair value of net tangible and intangible assets acquired. Intangible assets that are not considered to have an indefinite useful life are amortized over their useful lives, which generally range from two to six years. Estimated remaining useful lives of purchased intangible assets are evaluated to assess whether events or changes in circumstances warrant a revision to the remaining periods of amortization. The carrying amounts of these assets will be periodically reviewed for impairment (at least annually for goodwill and indefinite lived intangible assets) and whenever events or changes in circumstances indicate that the carrying value of these assets may not be recoverable. | |||||
Revenue Recognition | ' | ||||
Revenue Recognition | |||||
The Company generates revenues principally from subscriptions to its search, social and display advertising management platforms 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 total 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. | |||||
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, costs associated with website development activities, allocated overhead, amortization expense associated with capitalized internal use software and intangible assets 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 stock option 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 option awards to employees and non-employees. In applying the Black-Scholes option pricing model, the Company’s determination of the fair value of the stock option award on the date of grant is affected by the Company’s fair value of its 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 and the optionholders’ actual and projected stock option exercise and employment termination behaviors. | |||||
Restricted stock units (“RSUs”) are measured based on the fair market values of the underlying common stock on the dates of grant. Shares of common stock are issued on the vesting dates net of the minimum statutory tax withholding requirements to be paid by the Company on behalf of the Company’s employees. As a result, the actual number of shares of common stock issued will be fewer than the actual number of outstanding RSUs. | |||||
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. Non-employee stock-based compensation expense was not material for all periods presented. | |||||
See Note 9 for further information. |
Summary_of_Business_and_Signif2
Summary of Business and Significant Accounting Policies (Tables) | 6 Months Ended | ||||
Jun. 30, 2014 | |||||
Accounting Policies [Abstract] | ' | ||||
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 the six months ended June 30, 2013. There were no changes in the preferred stock warrant obligation during the six months ended June 30, 2014, as the underlying warrants were no longer outstanding subsequent to the Company’s initial public offering. | |||||
Six Months Ended | |||||
June 30, 2013 | |||||
Balances at beginning of period | $ | 507 | |||
Change in estimated fair value of warrant | 238 | ||||
Conversion to common stock warrant | (745 | ) | |||
Balances at end of period | $ | — | |||
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) | 6 Months Ended | ||||||||
Jun. 30, 2014 | |||||||||
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 the dates presented: | |||||||||
June 30, | December 31, | ||||||||
2014 | 2013 | ||||||||
Computer equipment | $ | 16,899 | $ | 16,314 | |||||
Software | 9,058 | 7,690 | |||||||
Office equipment | 706 | 571 | |||||||
Furniture, fixtures and leasehold improvements | 1,974 | 1,861 | |||||||
28,637 | 26,436 | ||||||||
Less: Accumulated depreciation and amortization | (15,118 | ) | (12,019 | ) | |||||
$ | 13,519 | $ | 14,417 | ||||||
Components of Accrued Expenses and Other Current Liabilities | ' | ||||||||
The following table shows the components of accrued expenses and other current liabilities as of the dates presented: | |||||||||
June 30, | December 31, | ||||||||
2014 | 2013 | ||||||||
Accrued salary and payroll related expenses | $ | 5,850 | $ | 6,675 | |||||
Accrued accounts payable | 3,399 | 2,773 | |||||||
Customer advances | 1,213 | — | |||||||
Income tax payable | 501 | 434 | |||||||
Sales and use tax payable | 256 | 466 | |||||||
Other | 496 | 602 | |||||||
$ | 11,715 | $ | 10,950 | ||||||
Goodwill_and_Intangible_Assets1
Goodwill and Intangible Assets (Tables) | 6 Months Ended | ||||||
Jun. 30, 2014 | |||||||
Goodwill And Intangible Assets Disclosure [Abstract] | ' | ||||||
Schedule of Intangible Assets, Excluding Goodwill | ' | ||||||
Intangible assets, excluding goodwill, consisted of the following: | |||||||
June 30, | Estimated | ||||||
2014 | Useful Life | ||||||
Developed technology | $ | 6,110 | 6 years | ||||
Customer relationships | 1,290 | 4 years | |||||
Non-compete agreements and tradename | 1,130 | 2 - 3 years | |||||
8,530 | |||||||
Less: accumulated amortization | (162 | ) | |||||
$ | 8,368 | ||||||
Schedule of Future Estimated Amortization Costs of Intangible Assets | ' | ||||||
Future estimated amortization of intangible assets as of June 30, 2014 is presented below: | |||||||
Remaining six months of 2014 | $ | 969 | |||||
Year ending December 31, 2015 | 1,938 | ||||||
Year ending December 31, 2016 | 1,714 | ||||||
Year ending December 31, 2017 | 1,483 | ||||||
Year ending December 31, 2018 and thereafter | 2,264 | ||||||
$ | 8,368 | ||||||
Debt_Tables
Debt (Tables) | 6 Months Ended | ||||
Jun. 30, 2014 | |||||
Debt Disclosure [Abstract] | ' | ||||
Maturities of All Outstanding Debt Including Capital Lease Arrangement | ' | ||||
The maturities of all outstanding debt, including the capital lease arrangement, as of June 30, 2014 are as follows: | |||||
Years Ending | |||||
2014 | $ | 1,596 | |||
2015 | 2,464 | ||||
2016 | 652 | ||||
4,712 | |||||
Less: | |||||
Current portion | (2,929 | ) | |||
Discount on long-term debt | (62 | ) | |||
Noncurrent portion of debt | $ | 1,721 | |||
Common_Stock_Tables
Common Stock (Tables) | 6 Months Ended | ||||||||
Jun. 30, 2014 | |||||||||
Equity [Abstract] | ' | ||||||||
Reserved Shares of Common Stock | ' | ||||||||
Reserved shares of common stock are as follows: | |||||||||
June 30, | December 31, | ||||||||
2014 | 2013 | ||||||||
Options available for future grant | 3,925 | 4,585 | |||||||
Options outstanding | 6,260 | 4,855 | |||||||
RSUs outstanding | 363 | — | |||||||
Shares available for future issuance under ESPP | 1,094 | 854 | |||||||
11,642 | 10,294 | ||||||||
Equity_Award_Plans_Tables
Equity Award Plans (Tables) | 6 Months Ended | ||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' | ||||||||||||||||
Summary of Stock Option Activity under the 2006 Plan and 2013 Plan | ' | ||||||||||||||||
A summary of stock option activity under the 2006 Plan and 2013 Plan is as follows: | |||||||||||||||||
Options Outstanding | |||||||||||||||||
Number of | Weighted | Weighted | Aggregate | ||||||||||||||
Shares | Average | Average | Intrinsic | ||||||||||||||
Exercise | Remaining | Value | |||||||||||||||
Price Per Share | Contractual | ||||||||||||||||
Term | |||||||||||||||||
(in Years) | |||||||||||||||||
Balances at December 31, 2013 | 4,855 | $ | 6.56 | 7.85 | $ | 20,593 | |||||||||||
Options granted | 2,485 | 9.73 | 9.86 | ||||||||||||||
Options exercised | (541 | ) | 2.83 | — | |||||||||||||
Options forfeited and cancelled | (539 | ) | 9.12 | — | |||||||||||||
Balances at June 30, 2014 | 6,260 | $ | 7.92 | 8.23 | $ | 24,585 | |||||||||||
Options exercisable as of June 30, 2014 | 3,313 | $ | 6.09 | 6.96 | $ | 19,143 | |||||||||||
Options vested as of June 30, 2014 | 2,281 | $ | 4.89 | 6.45 | $ | 15,854 | |||||||||||
Options vested and expected to vest as of June 30, 2014 | 5,832 | $ | 7.78 | 8.14 | $ | 23,748 | |||||||||||
Summary of RSUs Granted and Unvested under the 2013 Plan | ' | ||||||||||||||||
A summary of RSUs granted and unvested under the 2013 Plan as of June 30, 2014 is as follows: | |||||||||||||||||
RSUs Outstanding | |||||||||||||||||
Number | Weighted Average | ||||||||||||||||
of RSUs | Fair Value | ||||||||||||||||
Per Unit | |||||||||||||||||
Granted and unvested at December 31, 2013 | — | $ | — | ||||||||||||||
RSUs granted | 363 | 10.36 | |||||||||||||||
RSUs vested | — | — | |||||||||||||||
RSUs forfeited | — | — | |||||||||||||||
Granted and unvested at June 30, 2014 | 363 | $ | 10.36 | ||||||||||||||
StockBased_Compensation_Tables
Stock-Based Compensation (Tables) | 6 Months Ended | ||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' | ||||||||||||||||
Assumptions Used to Estimate Fair Value of Options | ' | ||||||||||||||||
The Company used the following assumptions: | |||||||||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
Dividend yield | — | — | — | — | |||||||||||||
Expected volatility | 51.3 | % | 55.8 | % | 51.3 | % | 55.8 | % | |||||||||
Risk-free interest rate | 1.92 | % | 0.89 | % | 1.92 | % | 1.1 | % | |||||||||
Expected life of options (in years) | 6.25 | 6.25 | 6.25 | 6.25 | |||||||||||||
Forfeiture rate | 7 | % | 7 | % | 7 | % | 7 | % |
Net_Loss_Per_Share_Available_t1
Net Loss Per Share Available to Common Stockholders (Tables) | 6 Months Ended | ||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||
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: | |||||||||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
Numerator: | |||||||||||||||||
Net loss | $ | (6,791 | ) | $ | (9,097 | ) | $ | (15,096 | ) | $ | (19,598 | ) | |||||
Denominator: | |||||||||||||||||
Weighted average number of shares, basic and diluted | 33,771 | 32,237 | 33,563 | 19,871 | |||||||||||||
Net loss per share available to common stockholders | |||||||||||||||||
Basic and diluted net loss per common share available to common stockholders | $ | (0.20 | ) | $ | (0.28 | ) | $ | (0.45 | ) | $ | (0.99 | ) | |||||
Potential Common Shares Outstanding | ' | ||||||||||||||||
The following table presents the potential shares of common stock 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: | |||||||||||||||||
Three and Six Months Ended June 30, | |||||||||||||||||
2014 | 2013 | ||||||||||||||||
Options to purchase common stock | 6,260 | 4,993 | |||||||||||||||
Restricted stock units | 363 | — | |||||||||||||||
Restricted common stock | 630 | — | |||||||||||||||
Common stock subject to repurchase | 116 | 252 | |||||||||||||||
7,369 | 5,245 | ||||||||||||||||
Segment_Reporting_Tables
Segment Reporting (Tables) | 6 Months Ended | ||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||
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: | |||||||||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
United States of America | $ | 15,800 | $ | 12,645 | $ | 30,680 | $ | 24,623 | |||||||||
International | 8,053 | 5,573 | 15,989 | 10,750 | |||||||||||||
Total revenues, net | $ | 23,853 | $ | 18,218 | $ | 46,669 | $ | 35,373 | |||||||||
Long-lived assets by geographic area were as follows: | |||||||||||||||||
June 30, | December 31, | ||||||||||||||||
2014 | 2013 | ||||||||||||||||
United States of America | $ | 12,864 | $ | 14,050 | |||||||||||||
International | 655 | 367 | |||||||||||||||
Total long-lived assets, net | $ | 13,519 | $ | 14,417 | |||||||||||||
Commitments_and_Contingencies_
Commitments and Contingencies (Tables) | 6 Months Ended | ||||
Jun. 30, 2014 | |||||
Commitments And Contingencies Disclosure [Abstract] | ' | ||||
Annual Future Minimum Payments under Operating Leases | ' | ||||
Future minimum lease payments for significant operating leases as of June 30, 2014 were as follows: | |||||
Periods Ending December 31, | |||||
2014 | $ | 3,084 | |||
2015 | 2,400 | ||||
2016 | 817 | ||||
2017 | 819 | ||||
2018 and thereafter | 243 | ||||
$ | 7,363 | ||||
Summary_of_Business_and_Signif3
Summary of Business and Significant Accounting Policies - Additional Information (Detail) (USD $) | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Dec. 31, 2013 |
Summary Of Significant Accounting Policies [Line Items] | ' | ' | ' | ' | ' |
Incorporation date | ' | ' | 31-Mar-06 | ' | ' |
Cash equivalents | $75,008 | ' | $75,008 | ' | $98,987 |
Cash equivalent consist of money market with maturity dates | ' | ' | '3 months | ' | '3 months |
Unrealized gains or losses on money market funds | ' | ' | 0 | ' | 0 |
Preferred stock warrant obligation | ' | ' | 0 | ' | ' |
Outstanding warrants | 0 | ' | 0 | ' | ' |
Allowance for potential customer credits | 264 | ' | 264 | ' | 349 |
Capitalization of internally developed software costs | 729 | 916 | 1,346 | 1,548 | ' |
Amortization of capitalized costs related to internally developed software | 465 | 256 | 910 | 483 | ' |
Unamortized internally developed software costs | $4,672 | ' | $4,672 | ' | $4,236 |
Software [Member] | ' | ' | ' | ' | ' |
Summary Of Significant Accounting Policies [Line Items] | ' | ' | ' | ' | ' |
Estimated useful life of internally developed software | ' | ' | '3 years | ' | ' |
Minimum [Member] | ' | ' | ' | ' | ' |
Summary Of Significant Accounting Policies [Line Items] | ' | ' | ' | ' | ' |
Intangible assets amortized useful lives | ' | ' | '2 years | ' | ' |
Minimum [Member] | Subscription Arrangement [Member] | ' | ' | ' | ' | ' |
Summary Of Significant Accounting Policies [Line Items] | ' | ' | ' | ' | ' |
Length of subscription agreements | ' | ' | '1 year | ' | ' |
Maximum [Member] | ' | ' | ' | ' | ' |
Summary Of Significant Accounting Policies [Line Items] | ' | ' | ' | ' | ' |
Intangible assets amortized useful lives | ' | ' | '6 years | ' | ' |
Summary_of_Business_and_Signif4
Summary of Business and Significant Accounting Policies - Changes in Preferred Stock Warrant Obligation Measured and Recorded at Fair Value on Recurring Basis (Detail) (USD $) | 6 Months Ended |
In Thousands, unless otherwise specified | Jun. 30, 2013 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' |
Conversion to common stock warrant | ($745) |
Significant Unobservable Inputs (Level 3) [Member] | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' |
Balances at beginning of period | 507 |
Change in estimated fair value of warrant | 238 |
Conversion to common stock warrant | -745 |
Balances at end of period | $0 |
Summary_of_Business_and_Signif5
Summary of Business and Significant Accounting Policies - Schedule of Useful Lives of Property and Equipment (Detail) | 6 Months Ended |
Jun. 30, 2014 | |
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 |
Business_Combinations_Addition
Business Combinations - Additional Information (Detail) (USD $) | 6 Months Ended |
In Thousands, unless otherwise specified | Jun. 30, 2014 |
Business Acquisition [Line Items] | ' |
Purchase price attributable to goodwill | $11,593 |
NowSpots, Inc. [Member] | ' |
Business Acquisition [Line Items] | ' |
Acquisition date | 2-Jun-14 |
Business acquisition, purchase price | 16,470 |
Common stock value at the date of acquisition | 5,275 |
Number of common stock, shares at the date of acquisition | 1,119 |
Cash acquired from acquisition | 1,124 |
Purchase price attributable to intangible assets | 8,530 |
Purchase price attributable to goodwill | 11,593 |
Purchase price of net liabilities assumed | 4,777 |
Additional shares of common stock issued in connection with acquisition | 630 |
Common stock issued in connection with acquisition closing date fair value | $6,301 |
Balance_Sheet_Components_Compo
Balance Sheet Components - Components of Property and Equipment (Detail) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 | |
In Thousands, unless otherwise specified | |||
Property, Plant and Equipment [Line Items] | ' | ' | |
Property and equipment, gross | $28,637 | $26,436 | |
Less: Accumulated depreciation and amortization | -15,118 | -12,019 | |
Property and equipment, net | 13,519 | 14,417 | [1] |
Computer Equipment [Member] | ' | ' | |
Property, Plant and Equipment [Line Items] | ' | ' | |
Property and equipment, gross | 16,899 | 16,314 | |
Software [Member] | ' | ' | |
Property, Plant and Equipment [Line Items] | ' | ' | |
Property and equipment, gross | 9,058 | 7,690 | |
Office Equipment [Member] | ' | ' | |
Property, Plant and Equipment [Line Items] | ' | ' | |
Property and equipment, gross | 706 | 571 | |
Furniture, Fixtures and Leasehold Improvements [Member] | ' | ' | |
Property, Plant and Equipment [Line Items] | ' | ' | |
Property and equipment, gross | $1,974 | $1,861 | |
[1] | Derived from our audited consolidated financial statements as of December 31, 2013. |
Balance_Sheet_Components_Addit
Balance Sheet Components - Additional Information (Detail) (USD $) | 6 Months Ended | |
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 |
Quarterly Financial Information Disclosure [Abstract] | ' | ' |
Depreciation and amortization of internally developed software | $3,627 | $2,612 |
Balance_Sheet_Components_Compo1
Balance Sheet Components - Components of Accrued Expenses and Other Current Liabilities (Detail) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 | |
In Thousands, unless otherwise specified | |||
Quarterly Financial Information Disclosure [Abstract] | ' | ' | |
Accrued salary and payroll related expenses | $5,850 | $6,675 | |
Accrued accounts payable | 3,399 | 2,773 | |
Customer advances | 1,213 | ' | |
Income tax payable | 501 | 434 | |
Sales and use tax payable | 256 | 466 | |
Other | 496 | 602 | |
Accrued expenses and other current liabilities | $11,715 | $10,950 | [1] |
[1] | Derived from our audited consolidated financial statements as of December 31, 2013. |
Goodwill_and_Intangible_Assets2
Goodwill and Intangible Assets - Additional Information (Detail) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' | ' |
Goodwill in result of business acquisition | $11,593 | ' | $11,593 | ' |
Amortization expense of intangible assets | 162 | 0 | 162 | 0 |
NowSpots, Inc. [Member] | ' | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' | ' |
Goodwill in result of business acquisition | $11,593 | ' | $11,593 | ' |
Goodwill_and_Intangible_Assets3
Goodwill and Intangible Assets - Schedule of Intangible Assets, Excluding Goodwill (Detail) (USD $) | 6 Months Ended |
In Thousands, unless otherwise specified | Jun. 30, 2014 |
Finite-Lived Intangible Assets [Line Items] | ' |
Intangible assets, gross | 8,530 |
Less: accumulated amortization | -162 |
Intangible assets, net | 8,368 |
Maximum [Member] | ' |
Finite-Lived Intangible Assets [Line Items] | ' |
Intangible assets, estimated useful life | '6 years |
Minimum [Member] | ' |
Finite-Lived Intangible Assets [Line Items] | ' |
Intangible assets, estimated useful life | '2 years |
Developed technology [Member] | ' |
Finite-Lived Intangible Assets [Line Items] | ' |
Intangible assets, estimated useful life | '6 years |
Intangible assets, gross | 6,110 |
Customer relationships [Member] | ' |
Finite-Lived Intangible Assets [Line Items] | ' |
Intangible assets, estimated useful life | '4 years |
Intangible assets, gross | 1,290 |
Non-compete agreements and tradename [Member] | ' |
Finite-Lived Intangible Assets [Line Items] | ' |
Intangible assets, gross | 1,130 |
Non-compete agreements and tradename [Member] | Maximum [Member] | ' |
Finite-Lived Intangible Assets [Line Items] | ' |
Intangible assets, estimated useful life | '3 years |
Non-compete agreements and tradename [Member] | Minimum [Member] | ' |
Finite-Lived Intangible Assets [Line Items] | ' |
Intangible assets, estimated useful life | '2 years |
Goodwill_and_Intangible_Assets4
Goodwill and Intangible Assets - Schedule of Future Estimated Amortization Costs of Intangible Assets (Detail) (USD $) | Jun. 30, 2014 |
In Thousands, unless otherwise specified | |
Finite Lived Intangible Assets Future Amortization Expense [Abstract] | ' |
Remaining six months of 2014 | $969 |
Year ending December 31, 2015 | 1,938 |
Year ending December 31, 2016 | 1,714 |
Year ending December 31, 2017 | 1,483 |
Year ending December 31, 2018 and thereafter | 2,264 |
Intangible assets, net | $8,368 |
Debt_Additional_Information_De
Debt - Additional Information (Detail) (USD $) | 1 Months Ended | 6 Months Ended | |||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2014 | Dec. 31, 2013 | Feb. 28, 2013 |
Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | Computer Equipment [Member] | Computer Equipment [Member] | Computer Equipment [Member] | |
Installment | |||||
Line of Credit Facility [Line Items] | ' | ' | ' | ' | ' |
Effective interest rate | ' | ' | ' | ' | 6.00% |
Number of monthly installments | ' | ' | ' | ' | 36 |
Net book value of equipment under capital lease | ' | ' | $1,967 | $2,495 | ' |
Remaining principal balance payable | ' | ' | 2,070 | 2,598 | ' |
Increase in the revolving credit facility | 15,000 | ' | ' | ' | ' |
Percentage of eligible accounts receivable | 80.00% | ' | ' | ' | ' |
Revolving credit facility, the expiration date | 31-Jul-15 | ' | ' | ' | ' |
Revolving credit facility, amended annual interest rate | 0.25% | ' | ' | ' | ' |
Unrestricted cash balance exceeds | $50,000 | ' | ' | ' | ' |
Revolving credit facility, Description | ' | 'In September 2013, the Company entered into an amendment to its existing 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. | ' | ' | ' |
Debt_Maturities_of_All_Outstan
Debt - Maturities of All Outstanding Debt (Detail) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 | |
In Thousands, unless otherwise specified | |||
Debt Disclosure [Abstract] | ' | ' | |
2014 | $1,596 | ' | |
2015 | 2,464 | ' | |
2016 | 652 | ' | |
Total | 4,712 | ' | |
Total | 4,712 | ' | |
Less: | ' | ' | |
Current portion | -2,929 | -3,253 | [1] |
Discount on long-term debt | -62 | ' | |
Noncurrent portion of debt | $1,721 | $2,962 | [1] |
[1] | Derived from our audited consolidated financial statements as of December 31, 2013. |
Convertible_Preferred_Stock_Ad
Convertible Preferred Stock - Additional Information (Detail) (Preferred Stock [Member]) | 6 Months Ended |
In Thousands, unless otherwise specified | Jun. 30, 2014 |
Preferred Stock [Member] | ' |
Class of Stock [Line Items] | ' |
Preferred stock conversion rate | 'All of the outstanding shares of preferred stock converted into common stock at the conversion rate of 1:1. |
Preferred stock conversion ratio | 1 |
Outstanding preferred stock converted into fully paid shares of common stock | 18,753 |
Common_Stock_Additional_Inform
Common Stock - Additional Information (Detail) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, except Per Share data, unless otherwise specified | ||
Equity [Abstract] | ' | ' |
Common stock, shares authorized | 500,000 | 500,000 |
Common stock, par value | $0.00 | $0.00 |
Common_Stock_Reserved_Shares_o
Common Stock - Reserved Shares of Common Stock (Detail) | Jun. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Class of Stock [Line Items] | ' | ' |
Reserved shares of Common Stock | 11,642 | 10,294 |
Shares Available for Future Issuance under ESPP [Member] | ' | ' |
Class of Stock [Line Items] | ' | ' |
Reserved shares of Common Stock | 1,094 | 854 |
Restricted Stock Units [Member] | ' | ' |
Class of Stock [Line Items] | ' | ' |
Reserved shares of Common Stock | 363 | ' |
Options Outstanding [Member] | ' | ' |
Class of Stock [Line Items] | ' | ' |
Reserved shares of Common Stock | 6,260 | 4,855 |
Options Available for Future Grant [Member] | ' | ' |
Class of Stock [Line Items] | ' | ' |
Reserved shares of Common Stock | 3,925 | 4,585 |
Equity_Award_Plans_Additional_
Equity Award Plans - Additional Information (Detail) (USD $) | Jun. 30, 2014 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2013 | Jan. 02, 2014 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Feb. 28, 2013 | Jan. 02, 2014 | Jun. 30, 2014 | Feb. 28, 2013 |
In Thousands, unless otherwise specified | Employee Stock Plan 2006 Plan [Member] | Employee Stock Plan 2006 Plan [Member] | 2013 Employee Stock Purchase Plan [Member] | 2013 Employee Stock Purchase Plan [Member] | 2013 Employee Stock Purchase Plan [Member] | 2013 Employee Stock Purchase Plan [Member] | 2013 Employee Stock Purchase Plan [Member] | 2013 Employee Stock Purchase Plan [Member] | 2013 Equity Incentive Plan [Member] | 2013 Equity Incentive Plan [Member] | 2013 Equity Incentive Plan [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Term of options granted under Plan may not exceed | ' | ' | '10 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Repurchase of common stock | ' | ' | 116 | 180 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long-term liability | ' | ' | $837 | $1,215 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock reserved for issuance | 11,642 | 10,294 | ' | ' | ' | ' | ' | ' | ' | 1,000 | ' | ' | 4,500 |
Percentage of shares outstanding under Equity Award Plan | ' | ' | ' | ' | ' | ' | ' | 1.00% | ' | ' | ' | 5.00% | ' |
Increase in common stock available for issuance | ' | ' | ' | ' | 329 | ' | ' | ' | ' | ' | 1,648 | ' | ' |
Percentage of fair market value of common stock of lesser | ' | ' | ' | ' | ' | ' | ' | 85.00% | ' | ' | ' | ' | ' |
Number of shares reserved under Employee Stock Purchase Plan | ' | ' | ' | ' | ' | 700 | ' | 700 | ' | ' | ' | ' | ' |
Shares issued under 2013 ESPP | ' | ' | ' | ' | ' | 90 | 0 | 90 | 0 | ' | ' | ' | ' |
Equity_Award_Plans_Summary_of_
Equity Award Plans - Summary of Stock Option Activity under the 2006 Plan and 2013 Plan (Detail) (USD $) | 6 Months Ended | 12 Months Ended |
In Thousands, except Per Share data, unless otherwise specified | Jun. 30, 2014 | Dec. 31, 2013 |
Equity [Abstract] | ' | ' |
Number of Shares, Options Outstanding, Balance | 4,855 | ' |
Number of Shares, Options granted | 2,485 | ' |
Number of Shares, Options exercised | -541 | ' |
Number of Shares, Options forfeited and cancelled | -539 | ' |
Number of Shares, Options Outstanding, Balance | 6,260 | 4,855 |
Number of Shares, Options exercisable, Balance | 3,313 | ' |
Number of Shares, Options vested, Balance | 2,281 | ' |
Number of Shares, Options vested and expected to vest, Balance | 5,832 | ' |
Weighted Average Exercise Price Per Share, Options Outstanding, Balance | $6.56 | ' |
Weighted Average Exercise Price Per Share, Options granted | $9.73 | ' |
Weighted Average Exercise Price Per Share, Options exercised | $2.83 | ' |
Weighted Average Exercise Price Per Share, Options forfeited and cancelled | $9.12 | ' |
Weighted Average Exercise Price Per Share, Options Outstanding, Balance | $7.92 | $6.56 |
Weighted Average Exercise Price Per Share, Options exercisable, Balance | $6.09 | ' |
Weighted Average Exercise Price Per Share, Options vested, Balance | $4.89 | ' |
Weighted Average Exercise Price Per Share, Options vested and expected to vest, Balance | $7.78 | ' |
Weighted Average Remaining Contractual Term, Options granted (in Years) | '9 years 10 months 10 days | ' |
Weighted Average Remaining Contractual Term, Options Outstanding (in Years) | '8 years 2 months 23 days | '7 years 10 months 6 days |
Weighted Average Remaining Contractual Term, Options exercisable (in Years) | '6 years 11 months 16 days | ' |
Weighted Average Remaining Contractual Term, Options vested (in Years) | '6 years 5 months 12 days | ' |
Weighted Average Remaining Contractual Term, Options vested and expected to vest (in Years) | '8 years 1 month 21 days | ' |
Aggregate Intrinsic Value, Options Outstanding, Balance | $20,593 | ' |
Aggregate Intrinsic Value, Options Outstanding, Balance | 24,585 | 20,593 |
Aggregate Intrinsic Value, Options exercisable, Balance | 19,143 | ' |
Aggregate Intrinsic Value, Outstanding, Options vested, Balance | 15,854 | ' |
Aggregate Intrinsic Value, Outstanding, Options vested and expected to vest, Balance | $23,748 | ' |
Equity_Award_Plans_Summary_of_1
Equity Award Plans - Summary of RSUs Granted and Unvested under the 2013 Plan (Detail) (USD $) | 6 Months Ended |
In Thousands, except Per Share data, unless otherwise specified | Jun. 30, 2014 |
Equity [Abstract] | ' |
Number of RSUs, Granted and unvested, Beginning balance | 0 |
Number of RSUs, granted | 363 |
Number of RSUs, vested | ' |
Number of RSUs, forfeited | ' |
Number of RSUs, Granted and unvested, Ending balance | 363 |
Weighted Average Fair Value Per Unit, Granted and unvested, Beginning balance | $0 |
Weighted Average Fair Value Per Unit, RSUs granted | $10.36 |
Weighted Average Fair Value Per Unit, RSUs vested | ' |
Weighted Average Fair Value Per Unit, RSUs forfeited | ' |
Weighted Average Fair Value Per Unit, Granted and unvested, Ending balance | $10.36 |
StockBased_Compensation_Additi
Stock-Based Compensation - Additional Information (Detail) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Stock-based compensation | ' | ' | $3,438 | $2,534 |
Cash proceeds from the exercise of stock options | ' | ' | 1,532 | 1,024 |
Unrecognized compensation cost related to options | 19,715 | ' | 19,715 | ' |
Recognized weighted-average period | ' | ' | '3 years 1 month 6 days | ' |
Stock Options [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Stock-based compensation | 1,941 | 1,309 | 3,438 | 2,534 |
Restricted Stock and RSUs [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Unrecognized compensation cost related to restricted stock and RSUs | $8,529 | ' | $8,529 | ' |
Weighted-average period over which unrecognized compensation cost expected to be recognized | ' | ' | '2 years 1 month 6 days | ' |
StockBased_Compensation_Assump
Stock-Based Compensation - Assumptions Used to Estimate Fair Value of Options (Detail) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' | ' | ' | ' |
Dividend yield | ' | ' | ' | ' |
Expected volatility | 51.30% | 55.80% | 51.30% | 55.80% |
Risk-free interest rate | 1.92% | 0.89% | 1.92% | 1.10% |
Expected life of options (in years) | '6 years 3 months | '6 years 3 months | '6 years 3 months | '6 years 3 months |
Forfeiture rate | 7.00% | 7.00% | 7.00% | 7.00% |
Income_Taxes_Additional_Inform
Income Taxes - Additional Information (Detail) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Income Tax Disclosure [Abstract] | ' | ' | ' | ' |
Income tax expense | ($2,440) | $149 | ($2,252) | $255 |
Pre-tax loss | -9,231 | -8,948 | -17,348 | -19,343 |
Decrease in valuation allowances | 2,603 | ' | 2,603 | ' |
Income tax benefit recognized with respect to losses incurred | ' | ' | 0 | ' |
Income tax expense with respect to earnings | 0 | ' | 0 | ' |
Uncertain tax benefits gross | 1,088 | ' | 1,088 | ' |
Interest and penalties related to unrecognized tax benefits | $0 | ' | $0 | ' |
Net_Loss_Per_Share_Available_t2
Net Loss Per Share Available to Common Stockholders - Additional Information (Detail) (USD $) | 6 Months Ended |
In Thousands, unless otherwise specified | Jun. 30, 2014 |
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 $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Numerator: | ' | ' | ' | ' |
Net loss | ($6,791) | ($9,097) | ($15,096) | ($19,598) |
Denominator: | ' | ' | ' | ' |
Weighted average number of shares, basic and diluted | 33,771 | 32,237 | 33,563 | 19,871 |
Net loss per share available to common stockholders | ' | ' | ' | ' |
Basic and diluted net loss per common share available to common stockholders | ($0.20) | ($0.28) | ($0.45) | ($0.99) |
Net_Loss_Per_Share_Available_t4
Net Loss Per Share Available to Common Stockholders - Potential Common Shares Outstanding (Detail) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' | ' |
Potential common shares outstanding | 7,369 | 5,245 | 7,369 | 5,245 |
Options to Purchase Common Stock [Member] | ' | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' | ' |
Potential common shares outstanding | 6,260 | 4,993 | 6,260 | 4,993 |
Common Stock Subject to Repurchase [Member] | ' | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' | ' |
Potential common shares outstanding | 116 | 252 | 116 | 252 |
Restricted Stock Units [Member] | ' | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' | ' |
Potential common shares outstanding | 363 | ' | 363 | ' |
Restricted Common Stock [Member] | ' | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' | ' |
Potential common shares outstanding | 630 | ' | 630 | ' |
Segment_Reporting_Additional_I
Segment Reporting - Additional Information (Detail) | 6 Months Ended |
Jun. 30, 2014 | |
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 $) | 3 Months Ended | 6 Months Ended | ||||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Dec. 31, 2013 | |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | |
Total revenues, net | $23,853 | $18,218 | $46,669 | $35,373 | ' | |
Total long-lived assets, net | 13,519 | ' | 13,519 | ' | 14,417 | [1] |
United States of America [Member] | ' | ' | ' | ' | ' | |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | |
Total revenues, net | 15,800 | 12,645 | 30,680 | 24,623 | ' | |
Total long-lived assets, net | 12,864 | ' | 12,864 | ' | 14,050 | |
International [Member] | ' | ' | ' | ' | ' | |
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | |
Total revenues, net | 8,053 | 5,573 | 15,989 | 10,750 | ' | |
Total long-lived assets, net | $655 | ' | $655 | ' | $367 | |
[1] | Derived from our audited consolidated financial statements as of December 31, 2013. |
Commitments_and_Contingencies_1
Commitments and Contingencies - Additional Information (Detail) (USD $) | 3 Months Ended | 6 Months Ended | |||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Dec. 31, 2013 |
Commitments And Contingencies Disclosure [Abstract] | ' | ' | ' | ' | ' |
Rent expense | $1,866 | $1,648 | $3,789 | $3,264 | ' |
Liabilities obligations | $0 | ' | $0 | ' | $0 |
Commitments_and_Contingencies_2
Commitments and Contingencies - Annual Future Minimum Payments under Operating Leases (Detail) (USD $) | Jun. 30, 2014 |
In Thousands, unless otherwise specified | |
Commitments And Contingencies Disclosure [Abstract] | ' |
2014 | $3,084 |
2015 | 2,400 |
2016 | 817 |
2017 | 819 |
2018 and thereafter | 243 |
Future minimum lease payments for significant operating leases | $7,363 |