Document_and_Entity_Informatio
Document and Entity Information (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Feb. 28, 2014 | Jun. 28, 2013 | |
Document And Entity Information [Abstract] | ' | ' | ' |
Document Type | '10-K | ' | ' |
Amendment Flag | 'false | ' | ' |
Document Period End Date | 31-Dec-13 | ' | ' |
Document Fiscal Year Focus | '2013 | ' | ' |
Document Fiscal Period Focus | 'FY | ' | ' |
Entity Registrant Name | 'Constant Contact, Inc. | ' | ' |
Entity Central Index Key | '0001405277 | ' | ' |
Current Fiscal Year End Date | '--12-31 | ' | ' |
Entity Well-known Seasoned Issuer | 'Yes | ' | ' |
Entity Current Reporting Status | 'Yes | ' | ' |
Entity Voluntary Filers | 'No | ' | ' |
Entity Filer Category | 'Accelerated Filer | ' | ' |
Entity Common Stock, Shares Outstanding | ' | 31,291,381 | ' |
Entity Public Float | ' | ' | $481,095,143 |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Current assets | ' | ' |
Cash and cash equivalents | $82,478 | $67,775 |
Marketable securities | 40,723 | 25,732 |
Accounts receivable, net of allowance for doubtful accounts | 180 | 92 |
Prepaid expenses and other current assets | 9,175 | 6,513 |
Total current assets | 132,556 | 100,112 |
Property and equipment, net | 39,238 | 39,653 |
Restricted cash | 1,300 | 750 |
Goodwill | 95,505 | 95,505 |
Acquired intangible assets, net | 4,355 | 6,758 |
Deferred taxes | 9,574 | 10,662 |
Other assets | 2,345 | 3,107 |
Total assets | 284,873 | 256,547 |
Current liabilities | ' | ' |
Accounts payable | 6,783 | 8,167 |
Accrued expenses | 10,903 | 10,803 |
Deferred revenue | 35,256 | 32,700 |
Total current liabilities | 52,942 | 51,670 |
Other long-term liabilities | 2,060 | 2,010 |
Total liabilities | 55,002 | 53,680 |
Commitments and contingencies (Note 10) | ' | ' |
Stockholders' equity | ' | ' |
Preferred stock; $0.01 par value; 5,000,000 shares authorized; no shares issued or outstanding at December 31, 2013 and 2012 | ' | ' |
Common stock; $0.01 par value; 100,000,000 shares authorized at December 31, 2013 and 2012; 31,203,585 and 30,651,375 shares issued and outstanding at December 31, 2013 and 2012, respectively | 312 | 307 |
Additional paid-in capital | 229,457 | 209,675 |
Accumulated other comprehensive income | 14 | 11 |
Accumulated equity (deficit) | 88 | -7,126 |
Total stockholders' equity | 229,871 | 202,867 |
Total liabilities and stockholders' equity | $284,873 | $256,547 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
Statement Of Financial Position [Abstract] | ' | ' |
Preferred stock, par value | $0.01 | $0.01 |
Preferred stock, shares authorized | 5,000,000 | 5,000,000 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Common stock, par value | $0.01 | $0.01 |
Common stock, shares authorized | 100,000,000 | 100,000,000 |
Common stock, shares issued | 31,203,585 | 30,651,375 |
Common stock, shares outstanding | 31,203,585 | 30,651,375 |
Consolidated_Statements_of_Ope
Consolidated Statements of Operations (USD $) | 12 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Income Statement [Abstract] | ' | ' | ' |
Revenue | $285,383 | $252,154 | $214,420 |
Cost of revenue | 81,616 | 73,547 | 61,491 |
Gross profit | 203,767 | 178,607 | 152,929 |
Operating expenses: | ' | ' | ' |
Research and development | 45,567 | 38,787 | 29,478 |
Sales and marketing | 111,374 | 104,527 | 89,211 |
General and administrative | 38,531 | 31,132 | 23,979 |
Acquisition costs and other related charges | ' | -11,355 | 264 |
Total operating expenses | 195,472 | 163,091 | 142,932 |
Income from operations | 8,295 | 15,516 | 9,997 |
Interest income | 94 | 224 | 346 |
Other income (expense), net | 81 | 7 | -84 |
Income before income taxes | 8,470 | 15,747 | 10,259 |
Income tax (expense) benefit | -1,256 | -3,181 | 13,207 |
Net income | $7,214 | $12,566 | $23,466 |
Net income per share: | ' | ' | ' |
Basic | $0.23 | $0.41 | $0.79 |
Diluted | $0.23 | $0.41 | $0.77 |
Weighted average shares outstanding used in computing per share amounts: | ' | ' | ' |
Basic | 30,730 | 30,386 | 29,566 |
Diluted | 31,356 | 31,003 | 30,671 |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Income (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Statement Of Income And Comprehensive Income [Abstract] | ' | ' | ' |
Net income | $7,214 | $12,566 | $23,466 |
Other comprehensive income (loss): | ' | ' | ' |
Net unrealized gains (losses) on marketable securities, net of tax | -1 | -51 | 60 |
Reclassification adjustment for realized gains on available-for-sale securities included in net income | ' | ' | -13 |
Translation adjustment | 4 | 1 | 1 |
Total other comprehensive income (loss) | 3 | -50 | 48 |
Comprehensive income | $7,217 | $12,516 | $23,514 |
Consolidated_Statements_of_Cha
Consolidated Statements of Changes in Stockholders` Equity (USD $) | Total | Common Stock [Member] | Additional Paid-in Capital [Member] | Accumulated Other Comprehensive Income [Member] | Accumulated Deficit [Member] |
In Thousands, except Share data | |||||
Beginning balance at Dec. 31, 2010 | $126,122 | $293 | $168,974 | $13 | ($43,158) |
Beginning balance, shares at Dec. 31, 2010 | ' | 29,337,333 | ' | ' | ' |
Issuance of common stock in connection with stock option exercises | 7,926 | 7 | 7,919 | ' | ' |
Issuance of common stock in connection with stock option exercises, shares | ' | 717,397 | ' | ' | ' |
Issuance of common stock pursuant to vesting of restricted stock units | -319 | ' | -319 | ' | ' |
Issuance of common stock pursuant to vesting of restricted stock units, shares | ' | 14,488 | ' | ' | ' |
Issuance of common stock in connection with employee stock purchase plan | 859 | 1 | 858 | ' | ' |
Issuance of common stock in connection with employee stock purchase plan, shares | ' | 41,677 | ' | ' | ' |
Stock-based compensation expense | 12,378 | ' | 12,378 | ' | ' |
Unrealized gain (loss) on available-for-sale securities | 60 | ' | ' | 60 | ' |
Reclassification adjustment for realized gains on available-for-sale securities included in net income | -13 | ' | ' | -13 | ' |
Translation adjustment | 1 | ' | ' | 1 | ' |
Net income | 23,466 | ' | ' | ' | 23,466 |
Ending balance at Dec. 31, 2011 | 170,480 | 301 | 189,810 | 61 | -19,692 |
Ending balance, shares at Dec. 31, 2011 | ' | 30,110,895 | ' | ' | ' |
Issuance of common stock in connection with stock option exercises | 4,355 | 4 | 4,351 | ' | ' |
Issuance of common stock in connection with stock option exercises, shares | ' | 415,136 | ' | ' | ' |
Issuance of common stock pursuant to vesting of restricted stock units | -596 | 1 | -597 | ' | ' |
Issuance of common stock pursuant to vesting of restricted stock units, shares | ' | 47,263 | ' | ' | ' |
Issuance of common stock in connection with employee stock purchase plan | 1,053 | 1 | 1,052 | ' | ' |
Issuance of common stock in connection with employee stock purchase plan, shares | ' | 78,081 | ' | ' | ' |
Stock-based compensation expense | 15,059 | ' | 15,059 | ' | ' |
Unrealized gain (loss) on available-for-sale securities | -51 | ' | ' | -51 | ' |
Translation adjustment | 1 | ' | ' | 1 | ' |
Net income | 12,566 | ' | ' | ' | 12,566 |
Ending balance at Dec. 31, 2012 | 202,867 | 307 | 209,675 | 11 | -7,126 |
Ending balance, shares at Dec. 31, 2012 | 30,651,375 | 30,651,375 | ' | ' | ' |
Issuance of common stock in connection with stock option exercises | 10,446 | 6 | 10,440 | ' | ' |
Issuance of common stock in connection with stock option exercises, shares | 671,596 | 671,596 | ' | ' | ' |
Issuance of common stock pursuant to vesting of restricted stock units | -1,591 | 1 | -1,592 | ' | ' |
Issuance of common stock pursuant to vesting of restricted stock units, shares | ' | 87,058 | ' | ' | ' |
Issuance of common stock in connection with employee stock purchase plan | 1,089 | 1 | 1,088 | ' | ' |
Issuance of common stock in connection with employee stock purchase plan, shares | ' | 79,456 | ' | ' | ' |
Repurchase and retirement of common stock | -5,366 | -3 | -5,363 | ' | ' |
Repurchase and retirement of common stock, shares | -285,900 | -285,900 | ' | ' | ' |
Stock-based compensation expense | 15,213 | ' | 15,213 | ' | ' |
Income tax from the exercise of stock options | -4 | ' | -4 | ' | ' |
Unrealized gain (loss) on available-for-sale securities | -1 | ' | ' | -1 | ' |
Translation adjustment | 4 | ' | ' | 4 | ' |
Net income | 7,214 | ' | ' | ' | 7,214 |
Ending balance at Dec. 31, 2013 | $229,871 | $312 | $229,457 | $14 | $88 |
Ending balance, shares at Dec. 31, 2013 | 31,203,585 | 31,203,585 | ' | ' | ' |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Cash flows from operating activities | ' | ' | ' |
Net income | $7,214 | $12,566 | $23,466 |
Adjustments to reconcile net income to net cash provided by operating activities | ' | ' | ' |
Depreciation and amortization | 22,191 | 19,003 | 14,409 |
Amortization of premium on investments | 210 | 539 | 660 |
Stock-based compensation expense | 14,731 | 14,274 | 11,708 |
Provision for bad debts | 14 | 11 | 3 |
Gain on sales of marketable securities | ' | ' | -13 |
Loss on sale of equipment | ' | ' | 79 |
Deferred taxes | 885 | 2,738 | -13,385 |
Contingent consideration adjustment | ' | -12,152 | ' |
Income tax benefit from the exercise of stock options | -123 | -84 | -229 |
Taxes paid related to net share settlement of restricted stock units | -1,592 | -597 | -319 |
Changes in operating assets and liabilities, net of effects from acquisition: | ' | ' | ' |
Accounts receivable | -102 | 3 | -17 |
Prepaid expenses and other current assets | -2,454 | 2,169 | -2,462 |
Other assets | 762 | -653 | -1,149 |
Accounts payable | -1,384 | -787 | 1,462 |
Accrued expenses | 100 | -1,398 | 3,791 |
Deferred revenue | 2,556 | 3,107 | 3,880 |
Other long-term liabilities | 50 | -42 | -230 |
Net cash provided by operating activities | 43,058 | 38,697 | 41,654 |
Cash flows from investing activities | ' | ' | ' |
Purchases of marketable securities | -30,739 | -40,254 | -130,702 |
Proceeds from maturities of marketable securities | 11,534 | 59,867 | 46,313 |
Proceeds from sales of marketable securities | 4,000 | 44,600 | 84,727 |
Acquisition of businesses, net of cash acquired | ' | -68,296 | -15,600 |
Proceeds from sale of equipment | ' | ' | 81 |
Purchases of intangible assets | ' | ' | -685 |
Net increase in restricted cash | -550 | ' | ' |
Acquisition of property and equipment, including costs capitalized for development of internal use software | -18,891 | -21,922 | -18,106 |
Net cash used in investing activities | -34,646 | -26,005 | -33,972 |
Cash flows from financing activities | ' | ' | ' |
Proceeds from issuance of common stock pursuant to exercise of stock options | 10,447 | 4,356 | 7,926 |
Income tax benefit from the exercise of stock options | 119 | 84 | 229 |
Proceeds from issuance of common stock pursuant to employee stock purchase plan | 1,089 | 1,053 | 859 |
Repurchase of common stock | -5,366 | ' | ' |
Net cash provided by financing activities | 6,289 | 5,493 | 9,014 |
Effects of exchange rates on cash | 2 | 1 | 1 |
Net increase in cash and cash equivalents | 14,703 | 18,186 | 16,697 |
Cash and cash equivalents, beginning of year | 67,775 | 49,589 | 32,892 |
Cash and cash equivalents, end of year | 82,478 | 67,775 | 49,589 |
Supplemental disclosure of cash flow information | ' | ' | ' |
Cash paid for income taxes | 523 | 61 | 324 |
Supplemental disclosure of noncash investing and financing activities: | ' | ' | ' |
Capitalization of stock-based compensation | 482 | 785 | 670 |
Fair value of contingent consideration recorded at the time of acquisition in accrued expenses and other long-term liabilities | ' | $12,152 | ' |
Nature_of_the_Business
Nature of the Business | 12 Months Ended |
Dec. 31, 2013 | |
Accounting Policies [Abstract] | ' |
Nature of the Business | ' |
1. Nature of the Business | |
Constant Contact, Inc. (the “Company”) was incorporated as a Massachusetts corporation in 1995 and was reincorporated in the State of Delaware in 2000. The Company is a leading provider of online marketing tools that are designed for small organizations, including small businesses, associations and non-profits. The Company seeks to help customers succeed by creating and growing their customer and member relationships through easy-to-use products combined with education, support, KnowHow® and coaching. The Company’s suite of online marketing tools, which include Email Marketing, EventSpot®, Social Campaigns™, SaveLocal™, SinglePlatform and Survey, enable customers to launch and monitor marketing campaigns across multiple channels, including email, social media, events, local deals, online listings and surveys. These products are marketed and sold directly by the Company and through a wide variety of partners primarily in the United States of America. |
Summary_of_Significant_Account
Summary of Significant Accounting Policies | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
Accounting Policies [Abstract] | ' | ||||||||||||||||||||||||
Summary of Significant Accounting Policies | ' | ||||||||||||||||||||||||
2. Summary of Significant Accounting Policies | |||||||||||||||||||||||||
Basis of Presentation | |||||||||||||||||||||||||
The accompanying consolidated financial statements include those of the Company and its subsidiaries, after elimination of all intercompany accounts and transactions. The accompanying consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”). | |||||||||||||||||||||||||
Revision of Prior Period Consolidated Financial Statements | |||||||||||||||||||||||||
During the fourth quarter of 2013, the Company identified certain prior period errors in income tax expense, which affected the years ended December 31, 2011 and 2012 as well as certain interim periods within those years and interim periods within the year ended December 31, 2013. The prior period errors in income tax expense relate to the Company’s accounting for deferred income taxes associated with certain stock-based compensation awards in accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 718, Compensation — Stock Compensation. As a result of a detailed analysis performed by the Company, management determined that its deferred tax asset associated with stock-based compensation awards did not contemplate certain shortfalls on the exercise of stock options and vesting of restricted stock awards and, as such, the carrying amount of the deferred tax asset balances as of December 31, 2011 and December 31, 2012, certain interim periods within those years and interim periods in 2013 were overstated. In addition, the Company decided to revise the presentation of one other immaterial 2013 interim period error that overstated sales tax expense and that had been previously corrected in the Company’s consolidated financial statements in an interim reporting period other than the interim periods in which the error originated. There was no effect on annual consolidated financial statements for this error as the error and the error correction occurred within one annual period. The Company has reflected the correction of all identified prior period errors in the periods in which they originated (the “2013 Revision”) throughout this document. | |||||||||||||||||||||||||
In evaluating whether the Company’s previously issued consolidated financial statements were materially misstated, the Company considered the guidance in ASC Topic 250, Accounting Changes and Error Corrections, ASC Topic 250-10-S99-1, Assessing Materiality, and ASC Topic 250-10-S99-2, Considering the Effects of Prior Year Misstatements when Quantifying Misstatements in Current Year Financial Statements. The Company concluded that these errors were not material, individually or in the aggregate, to any of the prior reporting periods. However, if the entire correction was recorded in the fourth quarter of 2013, the cumulative amount would be material in the fourth quarter of 2013 and would have impacted comparisons to prior periods. As such, the revisions for these corrections are reflected in the applicable prior periods within each of the consolidated financial statements and applicable footnotes (Note 7 and Note 11). The revisions for these corrections will be reflected in future filings containing such financial information. | |||||||||||||||||||||||||
The following tables present the effects of these prior period errors in the consolidated financial statements: | |||||||||||||||||||||||||
Impact of 2013 Revision to previously reported 2013 consolidated interim results (unaudited): | |||||||||||||||||||||||||
Three Months Ended | Three Months Ended | Six Months Ended | |||||||||||||||||||||||
March 31, 2013 | June 30, 2013 | June 30, 2013 | |||||||||||||||||||||||
As Previously | As Revised | As Previously | As Revised | As Previously | As Revised | ||||||||||||||||||||
Reported | Reported | Reported | |||||||||||||||||||||||
(unaudited) | |||||||||||||||||||||||||
Consolidated Statements of Operations and Comprehensive Income (Loss) | |||||||||||||||||||||||||
General and administrative | $ | 9,894 | $ | 9,840 | $ | 10,048 | $ | 9,925 | $ | 19,942 | $ | 19,765 | |||||||||||||
Total operating expenses | $ | 50,964 | $ | 50,910 | $ | 49,851 | $ | 49,728 | $ | 100,815 | $ | 100,638 | |||||||||||||
Income tax (expense) benefit | $ | 2,182 | $ | 1,988 | $ | 299 | $ | 118 | $ | 2,481 | $ | 2,106 | |||||||||||||
Net income (loss) | $ | (514 | ) | $ | (654 | ) | $ | 90 | $ | 32 | $ | (424 | ) | $ | (622 | ) | |||||||||
Net income (loss) per share — basic | $ | (0.02 | ) | $ | (0.02 | ) | $ | 0 | $ | 0 | $ | (0.01 | ) | $ | (0.02 | ) | |||||||||
Net income (loss) per share — diluted | $ | (0.02 | ) | $ | (0.02 | ) | $ | 0 | $ | 0 | $ | (0.01 | ) | $ | (0.02 | ) | |||||||||
Comprehensive income (loss) | $ | (515 | ) | $ | (655 | ) | $ | 87 | $ | 29 | $ | (428 | ) | $ | (626 | ) | |||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||||||||||
September 30, 2013 | September 30, 2013 | ||||||||||||||||||||||||
As Previously | As Revised | As Previously | As Revised | ||||||||||||||||||||||
Reported | Reported | ||||||||||||||||||||||||
(unaudited) | |||||||||||||||||||||||||
Consolidated Statements of Operations and Comprehensive Income (Loss) | |||||||||||||||||||||||||
General and administrative | $ | 9,136 | $ | 9,312 | $ | 29,078 | $ | 29,077 | |||||||||||||||||
Total operating expenses | $ | 45,877 | $ | 46,053 | $ | 146,692 | $ | 146,691 | |||||||||||||||||
Income tax (expense) benefit | $ | (2,215 | ) | $ | (2,321 | ) | $ | 266 | $ | (215 | ) | ||||||||||||||
Net income (loss) | $ | 3,602 | $ | 3,320 | $ | 3,178 | $ | 2,698 | |||||||||||||||||
Net income (loss) per share — basic | $ | 0.12 | $ | 0.11 | $ | 0.1 | $ | 0.09 | |||||||||||||||||
Net income (loss) per share — diluted | $ | 0.11 | $ | 0.11 | $ | 0.1 | $ | 0.09 | |||||||||||||||||
Comprehensive income (loss) | $ | 3,612 | $ | 3,330 | $ | 3,184 | $ | 2,704 | |||||||||||||||||
Impact of 2013 Revision to previously reported 2012 consolidated interim results (unaudited): | |||||||||||||||||||||||||
Three Months Ended | Three Months Ended | Six Months Ended | |||||||||||||||||||||||
March 31, 2012 | June 30, 2012 | June 30, 2012 | |||||||||||||||||||||||
As Previously | As Revised | As Previously | As Revised | As Previously | As Revised | ||||||||||||||||||||
Reported | Reported | Reported | |||||||||||||||||||||||
(unaudited) | |||||||||||||||||||||||||
Consolidated Statements of Operations and Comprehensive Income (Loss) | |||||||||||||||||||||||||
Income tax (expense) benefit | $ | 561 | $ | 538 | $ | (118 | ) | $ | (128 | ) | $ | 443 | $ | 410 | |||||||||||
Net income (loss) | $ | 218 | $ | 195 | $ | (462 | ) | $ | (472 | ) | $ | (244 | ) | $ | (277 | ) | |||||||||
Net income (loss) per share — basic | $ | 0.01 | $ | 0.01 | $ | (0.02 | ) | $ | (0.02 | ) | $ | (0.01 | ) | $ | (0.01 | ) | |||||||||
Net income (loss) per share — diluted | $ | 0.01 | $ | 0.01 | $ | (0.02 | ) | $ | (0.02 | ) | $ | (0.01 | ) | $ | (0.01 | ) | |||||||||
Comprehensive income (loss) | $ | 198 | $ | 175 | $ | (485 | ) | $ | (495 | ) | $ | (287 | ) | $ | (320 | ) | |||||||||
Nine Months Ended | |||||||||||||||||||||||||
September 30, 2012 | |||||||||||||||||||||||||
As Previously | As Revised | ||||||||||||||||||||||||
Reported | |||||||||||||||||||||||||
(unaudited) | |||||||||||||||||||||||||
Consolidated Statements of Operations and Comprehensive Income (Loss) | |||||||||||||||||||||||||
Income tax (expense) benefit | $ | (1,535 | ) | $ | (1,568 | ) | |||||||||||||||||||
Net income (loss) | $ | 6,377 | $ | 6,344 | |||||||||||||||||||||
Net income (loss) per share — basic | $ | 0.21 | $ | 0.21 | |||||||||||||||||||||
Net income (loss) per share — diluted | $ | 0.21 | $ | 0.2 | |||||||||||||||||||||
Comprehensive income (loss) | $ | 6,338 | $ | 6,305 | |||||||||||||||||||||
Impact of 2013 Revision to previously reported consolidated annual results for the years ended December 31, 2012 and 2011: | |||||||||||||||||||||||||
Year Ended | Year Ended | ||||||||||||||||||||||||
December 31, 2012 | December 31, 2011 | ||||||||||||||||||||||||
As Previously | As Revised | As Previously | As Revised | ||||||||||||||||||||||
Reported | Reported | ||||||||||||||||||||||||
Consolidated Statements of Operations and Comprehensive Income (Loss) | |||||||||||||||||||||||||
Income tax (expense) benefit | $ | (2,991 | ) | $ | (3,181 | ) | $ | 13,420 | $ | 13,207 | |||||||||||||||
Net income (loss) | $ | 12,756 | $ | 12,566 | $ | 23,679 | $ | 23,466 | |||||||||||||||||
Net income (loss) per share — basic | $ | 0.42 | $ | 0.41 | $ | 0.8 | $ | 0.79 | |||||||||||||||||
Net income (loss) per share — diluted | $ | 0.41 | $ | 0.41 | $ | 0.77 | $ | 0.77 | |||||||||||||||||
Comprehensive income | $ | 12,706 | $ | 12,516 | $ | 23,727 | $ | 23,514 | |||||||||||||||||
Consolidated Statements of Cash Flows | |||||||||||||||||||||||||
Net income | $ | 12,756 | $ | 12,566 | $ | 23,679 | $ | 23,466 | |||||||||||||||||
Deferred taxes | $ | 2,465 | $ | 2,738 | $ | (13,827 | ) | $ | (13,385 | ) | |||||||||||||||
Taxes paid related to net share settlement of equity awards | $ | (598 | ) | $ | (597 | ) | $ | (319 | ) | $ | (319 | ) | |||||||||||||
Impact of 2013 Revision to previously reported consolidated balance sheets as of December 31, 2012 and 2011: | |||||||||||||||||||||||||
As of December 31, 2012 | As of December 31, 2011 | ||||||||||||||||||||||||
As previously | As revised | As previously | As revised | ||||||||||||||||||||||
reported | reported | ||||||||||||||||||||||||
Deferred tax assets | $ | 11,377 | $ | 10,662 | $ | 12,960 | $ | 12,518 | |||||||||||||||||
Total assets | $ | 257,262 | $ | 256,547 | $ | 221,378 | $ | 220,936 | |||||||||||||||||
Additional paid-in capital | $ | 209,987 | $ | 209,675 | $ | 190,039 | $ | 189,810 | |||||||||||||||||
Accumulated deficit | $ | (6,723 | ) | $ | (7,126 | ) | $ | (19,479 | ) | $ | (19,692 | ) | |||||||||||||
Total stockholders’ equity | $ | 203,582 | $ | 202,867 | $ | 170,922 | $ | 170,480 | |||||||||||||||||
Total liabilities and stockholders’ equity | $ | 257,262 | $ | 256,547 | $ | 221,378 | $ | 220,936 | |||||||||||||||||
Use of Estimates | |||||||||||||||||||||||||
The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. On an ongoing basis, management evaluates these estimates, judgments and assumptions, including those related to revenue recognition, stock-based compensation, goodwill and acquired intangible assets, capitalization of software and website development costs, contingent consideration liability and income taxes. The Company bases these estimates on historical and anticipated results and trends and on various other assumptions that the Company believes are reasonable under the circumstances, including assumptions as to future events. These estimates form the basis for making judgments about the carrying values of assets and liabilities and recorded revenue and expenses that are not readily apparent from other sources. Actual results could differ from these estimates. | |||||||||||||||||||||||||
Fair Value of Financial Instruments | |||||||||||||||||||||||||
Certain assets and liabilities are carried at fair value under GAAP. Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs. A fair value hierarchy based on three levels of inputs, of which the first two are considered observable and the last is considered unobservable, are used to measure fair value: | |||||||||||||||||||||||||
• | Level 1 — Quoted prices in active markets for identical assets or liabilities. | ||||||||||||||||||||||||
• | Level 2 — Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. | ||||||||||||||||||||||||
• | Level 3 — Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. | ||||||||||||||||||||||||
During the years ended December 31, 2012, 2011 and 2010, there were no transfers between Level 1, Level 2 and Level 3. | |||||||||||||||||||||||||
The following tables present the Company’s fair value hierarchy for its assets which are measured at fair value on a recurring basis as of December 31, 2013 and 2012: | |||||||||||||||||||||||||
Fair Value Measurements at December 31, 2013 Using | |||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | ||||||||||||||||||||||
Financial Assets: | |||||||||||||||||||||||||
Money Market Instruments | $ | 23,444 | $ | — | $ | — | $ | 23,444 | |||||||||||||||||
U.S. Treasury Notes | 27,035 | — | — | 27,035 | |||||||||||||||||||||
Corporate and Agency Bonds | — | 12,688 | — | 12,688 | |||||||||||||||||||||
Commercial Paper | — | 1,000 | — | 1,000 | |||||||||||||||||||||
Total | $ | 50,479 | $ | 13,688 | $ | — | $ | 64,167 | |||||||||||||||||
Fair Value Measurements at December 31, 2012 Using | |||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | ||||||||||||||||||||||
Financial Assets: | |||||||||||||||||||||||||
Money Market Instruments | $ | 38,320 | $ | — | $ | — | $ | 38,320 | |||||||||||||||||
U.S. Treasury Notes | 10,158 | — | — | 10,158 | |||||||||||||||||||||
Corporate and Agency Bonds | — | 12,676 | — | 12,676 | |||||||||||||||||||||
Certificates of Deposit | — | 1,000 | — | 1,000 | |||||||||||||||||||||
Commercial Paper | — | 1,898 | — | 1,898 | |||||||||||||||||||||
Total | $ | 48,478 | $ | 15,574 | $ | — | $ | 64,052 | |||||||||||||||||
The Company has a contingent consideration liability associated with the acquisition of SinglePlatform, Corp. (“SinglePlatform”), which has been assessed at $0 as of December 31, 2013 (see Note 4). Contingent consideration is measured at fair value and is based on significant inputs not observable in the market, which represents a Level 3 measurement within the fair value hierarchy. The valuation of the contingent consideration liability uses assumptions and estimates to forecast a range of outcomes for the contingent consideration. The Company assesses these assumptions and estimates on a quarterly basis as additional data impacting the assumptions is obtained. Changes in the fair value of the contingent consideration liability related to updated assumptions and estimates are recognized within the consolidated statements of operations. | |||||||||||||||||||||||||
The significant unobservable inputs used in the fair value measurement of contingent consideration are the probabilities of successful achievement of the targeted revenues, the six month periods in which the revenues are expected to be achieved and the discount rate. Increases or decreases in any of the forecasted scenarios or probabilities of success would result in a higher or lower fair value measurement, respectively. Increases or decreases in the actual achievement of milestones in the relevant period as compared to the estimated achievement would result in a higher or lower fair value measurement, respectively. | |||||||||||||||||||||||||
The following table provides quantitative information associated with the fair value measurement of the Company’s Level 3 inputs as of the acquisition date of June 12, 2012: | |||||||||||||||||||||||||
Liability | Fair Value | Valuation Technique | Unobservable Inputs | Weighted | |||||||||||||||||||||
Average | |||||||||||||||||||||||||
Contingent consideration | $ | 12,152 | Income approach— discounted cash flow | Revenue earn-out — probability of low case (scenario) for total revenue. | 7.5 | % | |||||||||||||||||||
Revenue earn-out — probability of base case (scenario) for total revenue. | 30 | % | |||||||||||||||||||||||
Revenue earn-out — probability of target case (scenario) for total revenue. | 62.5 | % | |||||||||||||||||||||||
Discount rate for revenue earn-out | 5.3 | % | |||||||||||||||||||||||
As of December 31, 2012, the Company had revised its revenue forecasts inclusive of the three scenarios and none of the three revised revenue scenarios met the payout targets. Therefore, the fair value of the contingent consideration liability was estimated at $0 as of December 31, 2012. The first three revenue targets were not met and the Company does not believe the final revenue target (measured as of June 30, 2014) will be met. Therefore, the estimated fair value of the contingent consideration remained at $0 as of December 31, 2013. | |||||||||||||||||||||||||
Changes in the fair value of the Level 3 contingent consideration liability associated with the acquisition were as follows: | |||||||||||||||||||||||||
Contingent Consideration | |||||||||||||||||||||||||
Liability | |||||||||||||||||||||||||
Balance at December 31, 2011 | $ | — | |||||||||||||||||||||||
Acquisition of SinglePlatform | 12,152 | ||||||||||||||||||||||||
Change in fair value of contingent consideration liability, included in acquisition costs and other related charges in 2012 | (12,152 | ) | |||||||||||||||||||||||
Balance at December 31, 2012 and 2013 | $ | — | |||||||||||||||||||||||
The change in the fair value of the contingent consideration liability from the date of the SinglePlatform acquisition through December 31, 2012 resulted from reductions to the SinglePlatform revenue forecast scenarios. The revenue forecast scenarios were decreased due to SinglePlatform’s actual operating results and reduced productivity of its sales organization during 2012. | |||||||||||||||||||||||||
Fair Value Option for Financial Assets and Financial Liabilities | |||||||||||||||||||||||||
Authoritative guidance allows companies to choose to measure many financial instruments and certain other items at fair value. The Company has elected not to apply the fair value option to any of its financial assets or liabilities. | |||||||||||||||||||||||||
Cash and Cash Equivalents | |||||||||||||||||||||||||
The Company considers all highly liquid investments with original maturities of three months or less at the time of acquisition to be cash equivalents. The Company also considers receivables related to customer credit card purchases of $2,901 and $2,509 at December 31, 2013 and 2012, respectively, to be equivalent to cash. Cash equivalents are stated at fair value. | |||||||||||||||||||||||||
Marketable Securities | |||||||||||||||||||||||||
The Company’s marketable securities are classified as available-for-sale and are carried at fair value with the unrealized gains and losses reported as a component of accumulated other comprehensive income in stockholders’ equity. Realized gains and losses and declines in value judged to be other than temporary are included as a component of interest and other income based on the specific identification method. Fair value is determined based on quoted market prices. | |||||||||||||||||||||||||
At December 31, 2013, marketable securities by security type consisted of: | |||||||||||||||||||||||||
Amortized | Gross | Gross | Estimated | ||||||||||||||||||||||
Cost | Unrealized | Unrealized | Fair | ||||||||||||||||||||||
Gains | Losses | Value | |||||||||||||||||||||||
U.S. Treasury Notes | $ | 27,022 | 13 | $ | — | $ | 27,035 | ||||||||||||||||||
Corporate and Agency Bonds | 12,684 | 4 | — | 12,688 | |||||||||||||||||||||
Commercial Paper | 1,000 | — | — | 1,000 | |||||||||||||||||||||
Total | $ | 40,706 | $ | 17 | $ | — | $ | 40,723 | |||||||||||||||||
At December 31, 2013, marketable securities consisted of investments that mature within one year with the exception of government treasuries and corporate and agency bonds with a fair value of $23,318, which have maturities within two years. | |||||||||||||||||||||||||
At December 31, 2012, marketable securities by security type consisted of: | |||||||||||||||||||||||||
Amortized | Gross | Gross | Estimated | ||||||||||||||||||||||
Cost | Unrealized | Unrealized | Fair | ||||||||||||||||||||||
Gains | Losses | Value | |||||||||||||||||||||||
U.S. Treasury Notes | $ | 10,138 | 20 | $ | — | $ | 10,158 | ||||||||||||||||||
Corporate and Agency Bonds | 12,675 | 1 | — | 12,676 | |||||||||||||||||||||
Certificates of Deposit | 1,000 | — | — | 1,000 | |||||||||||||||||||||
Commercial Paper | 1,898 | — | — | 1,898 | |||||||||||||||||||||
Total | $ | 25,711 | $ | 21 | $ | — | $ | 25,732 | |||||||||||||||||
Accounts Receivable | |||||||||||||||||||||||||
Management reviews accounts receivable on a periodic basis to determine if any receivables will potentially be uncollectible. The Company reserves for receivables that are determined to be uncollectible, if any, in its allowance for doubtful accounts. After the Company has exhausted all collection efforts, the outstanding receivable is written off against the allowance. | |||||||||||||||||||||||||
Concentration of Credit Risk and Significant Products and Customers | |||||||||||||||||||||||||
Financial instruments that potentially expose the Company to concentrations of credit risk consist primarily of cash, cash equivalents and marketable securities. At December 31, 2013 and 2012, the Company had substantially all cash balances at certain financial institutions without or in excess of federally insured limits, however, the Company maintains its cash balances and custody of its marketable securities with accredited financial institutions. The Company does not believe that it is subject to unusual credit risk beyond the normal credit risk associated with commercial banking relationships. | |||||||||||||||||||||||||
For the years ended December 31, 2013, 2012 and 2011, revenue from the Company’s email marketing product alone as a percentage of total revenue was approximately 84%, 85% and 88%, respectively. No customer accounted for more than 10% of total revenue during these years. | |||||||||||||||||||||||||
Goodwill and Acquired Intangible Assets | |||||||||||||||||||||||||
The Company records goodwill when consideration paid in a business acquisition exceeds the fair value of the net tangible assets and the identified intangible assets acquired. Goodwill is not amortized, but rather is tested for impairment annually or more frequently if facts and circumstances warrant a review. The Company performs its annual assessment for impairment of goodwill on November 30th of each year and has determined that there is a single reporting unit for the purpose of conducting this annual goodwill impairment assessment. For purposes of assessing potential impairment, the Company annually estimates the fair value of the reporting unit (based on the Company’s market capitalization) and compares this amount to the carrying value of the reporting unit (as reflected by the Company’s total stockholders’ equity). If the Company determines that the carrying value of the reporting unit exceeds its fair value, an impairment charge would be required. | |||||||||||||||||||||||||
Intangible assets are recorded at their estimated fair values at the date of acquisition. The Company amortizes acquired intangible assets over their estimated useful lives based on the pattern of consumption of the economic benefits or, if that pattern cannot be readily determined, on a straight-line basis. | |||||||||||||||||||||||||
Property and Equipment | |||||||||||||||||||||||||
Property and equipment are recorded at cost and depreciated using the straight-line method over the estimated useful life of the assets or, where applicable and if shorter, over the lease term. Upon retirement or sale, the cost of assets disposed of and the related accumulated depreciation are eliminated from the accounts and any resulting gain or loss is credited or charged to the statement of operations. Repairs and maintenance costs are expensed as incurred. | |||||||||||||||||||||||||
Estimated useful lives of assets are as follows: | |||||||||||||||||||||||||
Computer equipment | 3 years | ||||||||||||||||||||||||
Software | 3 years | ||||||||||||||||||||||||
Furniture and fixtures | 5 years | ||||||||||||||||||||||||
Leasehold improvements | Shorter of life of lease or | ||||||||||||||||||||||||
estimated useful life | |||||||||||||||||||||||||
Long-Lived Assets | |||||||||||||||||||||||||
The Company reviews the carrying values of its long-lived assets for possible impairment when events or changes in circumstance indicate that the related carrying amount may not be recoverable. Undiscounted cash flows are compared to the carrying value and when required, impairment losses on assets to be held and used are recognized based on the excess of the asset’s carrying amount over the fair value of the asset. Long-lived assets to be disposed of are reported at the lower of carrying amount or fair value less cost to sell. | |||||||||||||||||||||||||
Revenue Recognition | |||||||||||||||||||||||||
The Company provides access to its products primarily through subscription arrangements whereby the customer is charged a fee for access for a defined term. Subscription arrangements include access to use the Company’s software via the Internet and support services, such as telephone, email and chat support. When there is evidence of an arrangement, the fee is fixed or determinable and collectability is deemed reasonably assured, the Company recognizes revenue on a daily basis over the subscription period as the services are delivered. Delivery is considered to have commenced at the time the customer has paid for the products and has access to the account via a log-in and password. The Company generates revenue from its SaveLocal product by charging a fee to its customers based on the number of deals sold by its customers and the value of the successful deal. The Company recognizes revenue from the fee charged when there is evidence of an arrangement, the fee is fixed or determinable and collectability is deemed reasonably assured. The Company also offers ancillary services to its customers related to its subscription-based products such as custom services and training. When sold together, revenue from custom services, training and subscription products are accounted for separately based on vendor specific objective evidence of fair value of each of the services as those services have value on a standalone basis and do not involve a significant degree of risk or unique acceptance criteria. Revenue from custom services and training is recognized as the services are performed. | |||||||||||||||||||||||||
Deferred Revenue | |||||||||||||||||||||||||
Deferred revenue consists of payments received in advance of delivery of the Company’s on-demand products described above and is recognized as the revenue recognition criteria are met. The Company’s customers generally pay for services in advance on a monthly, semiannual or annual basis. | |||||||||||||||||||||||||
Software and Website Development Costs | |||||||||||||||||||||||||
Research and development costs are expensed as incurred and primarily include salaries, fees to consultants, and other related costs. Relative to development costs of its on-demand products and website, the Company capitalizes certain direct costs to develop functionality as well as certain upgrades and enhancements that are probable to result in additional functionality. The costs incurred in the preliminary stages of development are expensed as incurred. Once an application has reached the development stage, internal and external costs, if direct and incremental, are capitalized as part of property and equipment until the software is substantially complete and ready for its intended use. Capitalized software is amortized over a three-year period in the expense category to which the software relates. | |||||||||||||||||||||||||
Foreign Currency Translation | |||||||||||||||||||||||||
The functional currency of the Company’s UK operations is deemed to be the British pound. Accordingly, the assets and liabilities of the Company’s UK subsidiary are translated into United States dollars using the period-end exchange rate, and income and expense items are translated using the average exchange rate during the period. Cumulative translation adjustments are reflected as a separate component of stockholders’ equity. Foreign currency transaction gains and losses are charged to Other income (expense), net and were not material to the Company’s operations. | |||||||||||||||||||||||||
Comprehensive Income | |||||||||||||||||||||||||
Comprehensive income includes net income, as well as other changes in stockholders’ equity that result from transactions and economic events other than those with stockholders. The Company’s only elements of other comprehensive income (loss) are unrealized gains and losses on available-for-sale securities and translation adjustments. | |||||||||||||||||||||||||
Segment Data | |||||||||||||||||||||||||
The Company manages its operations as a single segment for purposes of assessing performance and making operating decisions. Revenue is generated predominately in the U.S. and all significant assets are held in the U.S. | |||||||||||||||||||||||||
Net Income Per Share | |||||||||||||||||||||||||
Basic net income per share is computed by dividing net income by the weighted average number of unrestricted common shares outstanding for the period. | |||||||||||||||||||||||||
Diluted net income per share is computed by dividing net income by the sum of the weighted average number of unrestricted common shares outstanding during the period and the weighted average number of potential common shares from the assumed exercise of stock options and the vesting of shares of restricted common stock and restricted stock units using the “treasury stock” method when the effect is not anti-dilutive. | |||||||||||||||||||||||||
The following is a summary of the shares used in computing diluted net income per share: | |||||||||||||||||||||||||
Years ended December 31, | |||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||
(in thousands) | |||||||||||||||||||||||||
Weighted average shares used in calculating basic net income per share | 30,730 | 30,386 | 29,566 | ||||||||||||||||||||||
Stock options | 524 | 581 | 1,075 | ||||||||||||||||||||||
Warrants | 1 | 1 | 1 | ||||||||||||||||||||||
Unvested restricted stock and restricted stock units | 101 | 35 | 29 | ||||||||||||||||||||||
Shares used in computing diluted net income per share | 31,356 | 31,003 | 30,671 | ||||||||||||||||||||||
The Company excluded the following common stock equivalents from the computation of diluted net income per share because they had an anti-dilutive impact because the proceeds under the treasury stock method were in excess of the average fair market value for the period: | |||||||||||||||||||||||||
Years ended December 31, | |||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||
(in thousands) | |||||||||||||||||||||||||
Options to purchase common stock | 3,586 | 3,342 | 2,145 | ||||||||||||||||||||||
Unvested restricted stock and restricted stock units | 176 | 110 | 37 | ||||||||||||||||||||||
Total options exercisable into common stock, restricted stock units issuable in common stock and restricted stock | 3,762 | 3,452 | 2,182 | ||||||||||||||||||||||
Advertising Expense | |||||||||||||||||||||||||
The Company expenses advertising as incurred. Advertising expense was $39,796, $35,350 and $36,437 during the years ended December 31, 2013, 2012 and 2011, respectively. | |||||||||||||||||||||||||
Accounting for Stock-Based Compensation | |||||||||||||||||||||||||
The Company values all stock-based compensation, including grants of stock options, restricted stock and restricted stock units, at fair value on the date of grant, and expenses the fair value over the applicable service period. The straight-line method is applied to all grants with service conditions, while the graded vesting method is applied to all grants with both service and performance conditions. | |||||||||||||||||||||||||
Income Taxes | |||||||||||||||||||||||||
Income taxes are provided for tax effects of transactions reported in the financial statements and consist of income taxes currently due plus deferred income taxes related to timing differences between the basis of certain assets and liabilities for financial statement and income tax reporting purposes. Deferred taxes are determined based on the difference between the financial statement and tax basis of assets and liabilities using enacted tax rates in effect in the years in which the differences are expected to reverse. A valuation allowance is provided if, based upon the weight of available evidence, it is more likely than not that some or all of the deferred tax assets will not be realized. | |||||||||||||||||||||||||
The Company accounts for uncertainty in income taxes recognized in the financial statements by applying a two-step process to determine the amount of tax benefit to be recognized. First, the tax position must be evaluated to determine the likelihood that it will be sustained upon external examination. If the tax position is deemed “more-likely-than-not” to be sustained, the tax position is then assessed to determine the amount of benefit to recognize in the financial statements. The amount of the benefit that may be recognized is the largest amount that has a greater than 50% likelihood of being realized upon ultimate settlement. |
Property_and_Equipment
Property and Equipment | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Property Plant And Equipment [Abstract] | ' | ||||||||
Property and Equipment | ' | ||||||||
3. Property and Equipment | |||||||||
Property and equipment consisted of the following: | |||||||||
December 31, | |||||||||
2013 | 2012 | ||||||||
Computer equipment | $ | 52,059 | $ | 44,794 | |||||
Software | 43,377 | 35,011 | |||||||
Furniture and fixtures | 8,599 | 7,499 | |||||||
Leasehold improvements | 11,657 | 9,015 | |||||||
Total property and equipment | 115,692 | 96,319 | |||||||
Less: Accumulated depreciation and amortization | 76,454 | 56,666 | |||||||
Property and equipment, net | $ | 39,238 | $ | 39,653 | |||||
Depreciation and amortization expense was $19,788, $17,331 and $14,076 for the years ended December 31, 2013, 2012 and 2011, respectively. During 2011, the Company disposed of and sold assets that had a gross book value of $5,019 and a net book value of $160 for proceeds of $81 for which the Company recognized a loss of $79. | |||||||||
The Company capitalized costs associated with the development of internal use software of $7,411, $6,673 and $4,790 included in Software line item above and recorded related amortization expense of $4,575, $3,383 and $2,477 (included in depreciation and amortization expense) during the years ended December 31, 2013, 2012 and 2011, respectively. The remaining net book value of capitalized software costs was $14,096 and $11,260 as of December 31, 2013 and 2012, respectively. |
Acquisitions
Acquisitions | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Business Combinations [Abstract] | ' | ||||||||
Acquisitions | ' | ||||||||
4. Acquisitions | |||||||||
Bantam Networks | |||||||||
On February 15, 2011, the Company acquired substantially all of the assets, excluding cash, of Bantam Networks, LLC, a Delaware limited liability company (“Bantam Networks”), for a cash purchase price of $15,000. Bantam Networks is a contact management and social customer relationship management (“CRM”) software provider. The Company purchased the assets of Bantam Networks in order to expand the CRM functionality of its products. | |||||||||
The Company allocated the purchase price as follows: | |||||||||
Developed technology | $ | 1,800 | |||||||
Goodwill | 13,200 | ||||||||
Total assets acquired | $ | 15,000 | |||||||
The developed technology was valued using the cost to replace method. The estimated economic life of the developed technology is three years and amortization will commence once the software is ready for its intended use. Goodwill was recognized for the excess purchase price over the fair value of the assets acquired. Goodwill is primarily attributable to Bantam Networks’ knowledge of CRM and expertise in working with contact management software. Goodwill from the Bantam Networks’ acquisition is included within the Company’s one reporting unit and is included in the Company’s enterprise-level annual review for impairment. Goodwill resulting from the acquisition of Bantam Networks is deductible for tax purposes. | |||||||||
The following table presents the pro forma results of the historical consolidated statements of operations of the Company and Bantam Networks for the year ended December 31, 2011, giving effect to the merger as if it occurred on January 1, 2010: | |||||||||
Year ended | |||||||||
December 31, | |||||||||
2011 | |||||||||
Pro forma revenue | $ | 214,420 | |||||||
Pro forma net income | $ | 23,552 | |||||||
The pro forma net income presented primarily includes adjustments to eliminate Bantam revenue and adjustments for amortization, interest income and income taxes. This pro forma information does not purport to indicate the results that would have actually been obtained had the acquisition been completed on the assumed date, or which may be realized in the future. | |||||||||
Coupon Redemption Technology | |||||||||
During the fourth quarter of 2011, the Company acquired substantially all of the assets of a small business engaged in the back-end administration of coupon redemptions in order to expand its product offerings and enhance its technology base. The total consideration for this acquisition was $600, paid in cash. In allocating the total purchase consideration for this acquisition based on estimated fair values, the Company recorded goodwill of $487 and identifiable intangible assets of $113. Goodwill is primarily attributable to the acquired business knowledge of coupon redemption and contact management and expertise in working in the small business market. Intangible assets acquired consisted of core and completed technology that was valued using the cost-to-replace method and has a useful life of three years. Goodwill resulting from this transaction is deductible for tax purposes. | |||||||||
CardStar | |||||||||
On January 13, 2012, the Company acquired by merger all of the outstanding capital stock of CardStar for a cash purchase price of $5,750. CardStar is a leading developer of mobile applications that extend the use of loyalty, rewards and membership cards and mobile coupons among consumers. The Company purchased CardStar in order to accelerate its entrance into the mobile marketing and loyalty space. | |||||||||
The Company allocated the purchase price as follows: | |||||||||
Developed technology | $ | 624 | |||||||
Net deferred tax assets | 553 | ||||||||
Goodwill | 4,573 | ||||||||
Total assets acquired | $ | 5,750 | |||||||
The developed technology was valued using the cost to replace method and has an estimated economic life of three years. | |||||||||
Goodwill was recognized for the excess purchase price over the fair value of the assets acquired. Goodwill is primarily attributable to CardStar’s knowledge of mobile applications and coupons and loyalty, rewards and membership cards. Goodwill from the CardStar acquisition is included within the Company’s one reporting unit and is included in the Company’s enterprise-level annual review for impairment. Goodwill resulting from the acquisition of CardStar is not deductible for tax purposes. | |||||||||
SinglePlatform | |||||||||
On June 12, 2012, the Company acquired by merger all of the outstanding capital stock of SinglePlatform. SinglePlatform provides small businesses a single place to update their business information and delivers that information across its publishing network. The Company purchased SinglePlatform in order to expand its product offerings and allow small organizations to engage their customers earlier in the customer lifecycle. The purchase price of $75,009 reflected a cash payment of $62,857 and a liability of $12,152 representing the fair value of contingent consideration of up to $30,000 payable to the former shareholders of SinglePlatform upon achievement by SinglePlatform of certain revenue targets. These revenue targets were to be measured in six month intervals from July 1, 2012 to June 30, 2014. If such targets are achieved, the consideration is payable in cash. Using a discounted cash flow method and a probability weighted estimate of future revenue, the Company recorded an estimated liability of $12,152 as of the acquisition date. The estimated undiscounted range of outcomes for the contingent consideration was $0 to $21,095 at the acquisition date. The first revenue target, assessed at December 31, 2012 was not met and, based on actual results and the impact to forecasted performance, the Company revised its revenue forecasts in 2012. Under the revised forecasts, no contingent consideration payments were to be made. Accordingly, the Company recorded a reduction to expenses of $12,152 in 2012 relating to this remeasurement of the fair value of the contingent liability. The reduction is included in acquisition costs and other related charges in the Company’s consolidated statement of operations for the year ended December 31, 2012. As of December 31, 2013, the second and third revenue target were also not met. As of December 31, 2013, the Company continues to estimate that no contingent consideration payments will be made. The Company will continue to assess the probability that the last remaining revenue target will be met and at what level, and any subsequent changes in the estimated fair value of the liability will be reflected in earnings until the liability is fully settled. | |||||||||
The following table summarizes the purchase price for SinglePlatform and the allocation of the purchase price: | |||||||||
Purchase consideration: | |||||||||
Total cash paid, net of cash acquired | $ | 62,546 | |||||||
Cash acquired | 311 | ||||||||
Fair value of contingent consideration | 12,152 | ||||||||
Total purchase price consideration | $ | 75,009 | |||||||
Assets acquired and liabilities assumed: | |||||||||
Cash | $ | 311 | |||||||
Accounts receivable | 48 | ||||||||
Prepaid expenses and other current assets | 60 | ||||||||
Property and equipment | 14 | ||||||||
Identifiable intangible assets | 4,760 | ||||||||
Other assets | 91 | ||||||||
Net deferred tax assets | 72 | ||||||||
Goodwill | 71,997 | ||||||||
Total assets acquired | 77,353 | ||||||||
Accounts payable, accrued expenses and other current liabilities | (1,734 | ) | |||||||
Deferred revenue | (610 | ) | |||||||
Total liabilities assumed | (2,344 | ) | |||||||
Total allocation of purchase price consideration | $ | 75,009 | |||||||
The developed technology and the customer and publisher relationships were valued using the cost to replace method. The trade name was valued using the relief from royalty method. Acquired intangible assets are amortized over their estimated useful lives based on the pattern of consumption of the economic benefits or, if that pattern cannot be readily determined, on a straight-line basis. The following table presents the estimated fair values and useful lives of identifiable intangible assets acquired: | |||||||||
Amount | Weighted Average Useful | ||||||||
Life | |||||||||
(in years) | |||||||||
Developed technology | $ | 850 | 3 | ||||||
Customer relationships | 2,630 | 3.75 | |||||||
Publisher relationships | 710 | 5 | |||||||
Trade name | 570 | 5 | |||||||
Total identifiable intangible assets | $ | 4,760 | 3.95 | ||||||
Goodwill was recognized for the excess purchase price over the fair value of the net assets acquired. Goodwill is primarily attributable to the workforce of the acquired business (which is not eligible for separate recognition as an identifiable intangible asset) and the expected synergistic benefits of being able to market SinglePlatform’s product to the Company’s customer base and being able to market the Company’s products to SinglePlatform’s customer base. Goodwill from the SinglePlatform acquisition is included within the Company’s one reporting unit and is included in the Company’s enterprise-level annual review for impairment. Goodwill resulting from the acquisition of SinglePlatform is not deductible for tax purposes. | |||||||||
The following table presents the pro forma results of the historical consolidated statements of operations of the Company and SinglePlatform for the years ended December 31, 2012 and 2011, giving effect to the merger as if it occurred on January 1, 2011: | |||||||||
Years ended | |||||||||
December 31, | |||||||||
2012 | 2011 | ||||||||
Pro forma revenue | $ | 252,618 | $ | 214,839 | |||||
Pro forma net income | $ | 11,173 | $ | 21,039 | |||||
The pro forma net income presented primarily includes adjustments for amortization, elimination of transaction costs, interest income and income taxes. This pro forma information does not purport to indicate the results that would have actually been obtained had the acquisition been completed on the assumed date, or which may be realized in the future. | |||||||||
Transaction costs related to the acquisitions were $0, $797 and $264 for the years ended December 31, 2013, 2012 and 2011, respectively, which the Company recorded as acquisition costs and other related charges. The operating expenses of the acquired entities have been included in the consolidated financial statements beginning on their respective acquisition dates but have not been disclosed as the Company does not account for the results of the acquired entities separate from its own results. |
Goodwill_and_Acquired_Intangib
Goodwill and Acquired Intangible Assets | 12 Months Ended | ||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||
Goodwill And Intangible Assets Disclosure [Abstract] | ' | ||||||||||||||||||||||||||||
Goodwill and Acquired Intangible Assets | ' | ||||||||||||||||||||||||||||
5. Goodwill and Acquired Intangible Assets | |||||||||||||||||||||||||||||
The carrying amount of goodwill was $95,505 as of December 31, 2013 and 2012. Changes in goodwill related only to additional goodwill from the Company’s acquisitions of businesses. | |||||||||||||||||||||||||||||
Changes in goodwill are as follows: | |||||||||||||||||||||||||||||
Balance, December 31, 2011 | 18,935 | ||||||||||||||||||||||||||||
Goodwill acquired during 2012 | 76,570 | ||||||||||||||||||||||||||||
Balance, December 31, 2012 and 2013 | $ | 95,505 | |||||||||||||||||||||||||||
Goodwill is not amortized, but instead is reviewed for impairment at least annually in the fourth quarter or more frequently when events and circumstances occur indicating that the recorded goodwill may be impaired. The Company considers its business to be one reporting unit for purposes of performing its goodwill impairment analysis. The Company completed its most recent annual impairment test of goodwill on November 30, 2013. To date, the Company has had no impairments of goodwill. | |||||||||||||||||||||||||||||
Intangible assets consist of the following: | |||||||||||||||||||||||||||||
Estimated | December 31, 2013 | December 31, 2012 | |||||||||||||||||||||||||||
Useful Life | Gross | Accumulated | Net Carrying | Gross | Accumulated | Net Carrying | |||||||||||||||||||||||
Carrying | Amortization | Amount | Carrying | Amortization | Amount | ||||||||||||||||||||||||
Amount | Amount | ||||||||||||||||||||||||||||
Developed technology | 3 years | $ | 4,357 | $ | 2,336 | $ | 2,021 | $ | 4,357 | $ | 1,222 | $ | 3,135 | ||||||||||||||||
Customer relationships | 3.75 years | 3,315 | 1,855 | 1,460 | 3,315 | 822 | 2,493 | ||||||||||||||||||||||
Publisher relationships | 5 years | 710 | 225 | 485 | 710 | 83 | 627 | ||||||||||||||||||||||
Trade name | 5 years | 570 | 181 | 389 | 570 | 67 | 503 | ||||||||||||||||||||||
$ | 8,952 | $ | 4,597 | $ | 4,355 | $ | 8,952 | $ | 2,194 | $ | 6,758 | ||||||||||||||||||
The Company amortizes the intangible assets over the estimated useful lives noted above. For the developed technology and publisher relationship assets, as the pattern of consumption of the economic benefits of the intangible assets cannot be reliably determined, the Company amortizes these acquired intangible assets over their estimated useful lives on a straight-line basis. The Company also amortizes the trade name asset over its estimated useful life on a straight-line basis as the straight-line basis is not materially different than the pattern of consumption of economic benefit basis. Customer relationships are amortized over their useful life based on the pattern of consumption of economic benefit of the asset. Amortization commences once the asset has been placed in service. | |||||||||||||||||||||||||||||
Amortization expense for intangible assets was $2,403, $1,672 and $333 for the years ended December 31, 2013, 2012 and 2011, respectively. Amortization of developed technology and publisher relationships is recorded within cost of revenue and the amortization of customer relationships and trade name is recorded within sales and marketing expense. Future estimated amortization expense for assets placed in service as of December 31, 2013 is as follows: | |||||||||||||||||||||||||||||
2014 | 2,196 | ||||||||||||||||||||||||||||
2015 | 1,583 | ||||||||||||||||||||||||||||
2016 | 470 | ||||||||||||||||||||||||||||
2017 | 106 | ||||||||||||||||||||||||||||
Total | $ | 4,355 | |||||||||||||||||||||||||||
Stockholders_Equity_and_StockB
Stockholders' Equity and Stock-Based Awards | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' | ||||||||||||||||
Stockholders' Equity and Stock-Based Awards | ' | ||||||||||||||||
6. Stockholders’ Equity and Stock-Based Awards | |||||||||||||||||
Preferred Stock | |||||||||||||||||
The Company has authorized 5,000,000 shares of preferred stock, par value $0.01 per share, all of which is undesignated. | |||||||||||||||||
Common Stock | |||||||||||||||||
The Company has authorized 100,000,000 shares of common stock, par value $0.01 per share. Each share of common stock is entitled to one vote. The holders of common stock are also entitled to receive dividends whenever funds are legally available and when declared by the board of directors, subject to the prior rights of holders of all classes of preferred stock outstanding. | |||||||||||||||||
Share Repurchase Program | |||||||||||||||||
In the second quarter of 2013, the Board of Directors authorized the repurchase of up to $20,000 of the Company’s common stock through December 31, 2013. Under the authorization, shares could be repurchased from time to time in the open market or privately negotiated transactions in accordance with applicable securities and stock exchange rules. Through December 31, 2013, 285,900 shares of common stock were repurchased at an average price of $18.77 per share for a total cost of $5,366. As of December 31, 2013, the stock repurchase program has ended. | |||||||||||||||||
Stock-Based Awards | |||||||||||||||||
Stock Incentive Plan | |||||||||||||||||
The Company’s 2011 Stock Incentive Plan (the “2011 Plan”) permits the Company to make grants of incentive stock options, non-statutory stock options, restricted stock, restricted stock units, stock appreciation rights and other stock-based awards with a maximum term of seven years. These awards may be granted to the Company’s employees, officers, directors, consultants, and advisors. The Company reserved 4,200,000 shares of its common stock for issuance under the 2011 Plan. Additionally, per the terms of the 2011 Plan, shares of common stock previously reserved for issuance under the 2007 Stock Incentive Plan as well as shares reserved for outstanding awards under the 1999 Stock Option/Stock Issuance Plan for which the awards are cancelled, forfeited, repurchased or otherwise result in common stock not being issued will be added to the number of shares available for issuance under the 2011 Plan. Awards that are granted with a per share or per unit purchase price less than 100% of fair market value as of the date of grant (e.g., restricted stock and restricted stock unit awards) shall count towards the total number of shares reserved for issuance under the 2011 Plan on a two-for-one basis. As of December 31, 2013, 1,166,039 shares of common stock were available for issuance under the 2011 Plan. | |||||||||||||||||
Inducement Award Plan | |||||||||||||||||
The Company’s 2012 Inducement Award Plan (the “2012 Inducement Plan”) provides for the grant of nonstatutory stock options and restricted stock unit awards as an inducement to an individual’s entering into employment with Constant Contact or in connection with an acquisition. The Company may issue up to an aggregate of 257,780 shares of common stock pursuant to the 2012 Inducement Plan, subject to adjustment in the event of stock splits and other similar events. Shares issued under the 2012 Inducement Plan may consist in whole or in part of authorized but unissued shares or may be issued shares that the Company has reacquired (provided that open market purchases of shares using the proceeds from the exercise of awards do not increase the number of shares available for future grants). Options granted under the 2012 Inducement Plan must be granted at an exercise price that is not less than 100% of the fair market value of the common stock on the date of grant and may not be granted for a term in excess of seven years. | |||||||||||||||||
If an award granted under the 2012 Inducement Plan expires or is terminated, surrendered or canceled without having been fully exercised or is forfeited in whole or in part (including as the result of shares of common stock subject to such award being repurchased by the Company) or otherwise results in any common stock not being issued, the unused common stock covered by such award will become available for issuance pursuant to a new award under the 2012 Inducement Plan. As of December 31, 2013, there were 76,117 shares of common stock available for issuance under the 2012 Inducement Plan. | |||||||||||||||||
The Company applies the fair value recognition provisions for all stock-based awards granted or modified in accordance with authoritative guidance. Under this guidance the Company records compensation costs over the requisite service period of the award based on the grant-date fair value. The straight-line method is applied to all grants with service conditions, while the graded vesting method is applied to all grants with both service and performance conditions. | |||||||||||||||||
Stock Options | |||||||||||||||||
During the years ended December 31, 2013, 2012 and 2011, the Company granted 875,975, 1,549,932 and 1,787,525 stock options, respectively, to certain employees and directors. The vesting of most of these awards is time-based and the restrictions typically lapse 25% after one year and quarterly thereafter for the next 36 months in the case of employees and 33% after one year and quarterly thereafter for the next 24 months in the case of directors. | |||||||||||||||||
Through December 31, 2013, stock options were granted with exercise prices equal to the fair value of the Company’s common stock on the date of grant. The Company bases fair value of common stock on the quoted market price. | |||||||||||||||||
The fair value of each stock option grant was estimated on the date of grant using the Black-Scholes option-pricing model. Because the Company has a limited history of operating as a public company, the expected term assumption was based on the “simplified method” for estimating expected term for awards that qualify as “plain-vanilla” options. Expected volatility was based on historical volatility of the publicly traded stock of a peer group of companies, inclusive of the Company, commencing October 2007. The risk-free interest rate was determined by reference to U.S. Treasury bond yields at or near the time of grant for time periods similar to the expected term of the award. The relevant data used to determine the value of the stock option grants is as follows: | |||||||||||||||||
Year Ended | Year Ended | Year Ended | |||||||||||||||
December 31, | December 31, | December 31, | |||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||
Weighted average risk-free interest rate | 1.07 | % | 0.81 | % | 1.82 | % | |||||||||||
Expected term (in years) | 4.6 | 4.6 | 5.5 | ||||||||||||||
Weighted average expected volatility | 51.14 | % | 53.58 | % | 52.15 | % | |||||||||||
Expected dividends | 0 | % | 0 | % | 0 | % | |||||||||||
A summary of stock option activity is as follows: | |||||||||||||||||
Number of | Weighted | Weighted | Aggregate | ||||||||||||||
Options | Average | Average | Intrinsic | ||||||||||||||
Exercise | Remaining | Value | |||||||||||||||
Price | Contractual | ||||||||||||||||
Term | |||||||||||||||||
(In Years) | |||||||||||||||||
Balance at December 31, 2012 | 5,510,254 | $ | 19.84 | 6.35 | $ | 5,730 | |||||||||||
Granted | 875,975 | 16.64 | |||||||||||||||
Exercised | (671,596 | ) | 15.55 | ||||||||||||||
Forfeited | (700,650 | ) | 21.58 | ||||||||||||||
Balance at December 31, 2013 | 5,013,983 | $ | 19.61 | 5.57 | $ | 57,469 | |||||||||||
Vested and expected to vest at December 31, 2013 | 4,571,135 | $ | 19.61 | 5.49 | $ | 52,394 | |||||||||||
Exercisable at December 31, 2013 | 2,877,961 | $ | 19.15 | 5.27 | $ | 34,317 | |||||||||||
The aggregate intrinsic value was calculated based on the positive differences between the market value of the Company’s common stock on December 31, 2012 and 2013, of $14.21 and $31.07 per share, respectively, and the exercise prices of the options. | |||||||||||||||||
The weighted average grant date fair value of stock options granted was $7.14, $9.55 and $12.08 per share for the years ended December 31, 2013, 2012 and 2011, respectively. | |||||||||||||||||
The total intrinsic value of stock options exercised was $6,168, $6,530 and $10,014 for the years ended December 31, 2013, 2012 and 2011, respectively. | |||||||||||||||||
Restricted Stock | |||||||||||||||||
The Company’s stock incentive plans provide for the award of restricted stock and restricted stock units. | |||||||||||||||||
The table below summarizes activity relating to restricted stock for 2013: | |||||||||||||||||
Shares | Weighted | ||||||||||||||||
Average Grant | |||||||||||||||||
Date Fair Value | |||||||||||||||||
Unvested shares as of December 31, 2012 | 48,670 | $ | 21.17 | ||||||||||||||
Restricted shares vested | (15,784 | ) | 21.17 | ||||||||||||||
Restricted shares forfeited/cancelled | (32,886 | ) | 21.17 | ||||||||||||||
Unvested shares as of December 31, 2013 | — | $ | — | ||||||||||||||
Restricted Stock Units | |||||||||||||||||
During 2013, 2012 and 2011, the Company granted 371,415, 718,930 and 181,677 restricted stock units with a weighted average grant-date fair value of $22.63, $16.73 and $25.86, respectively. Upon vesting, the restricted stock units entitle the holder to one share of common stock for each restricted stock unit. All restricted stock units currently granted have been classified as equity instruments as their terms require settlement in shares. The aggregate intrinsic value of restricted stock units vested in 2013, 2012 and 2011 was $3,774, $1,485 and $794, respectively. Of the unvested restricted share units outstanding as of December 31, 2013, 522,046 are subject to time-based vesting, 251,845 are subject to performance-based vesting and 128,648 are subject to market-based vesting conditions. As of December 31, 2013, the Company estimates that 598,497 shares of restricted stock units with an intrinsic value of $18,475 and a weighted average remaining contractual term of 1.43 years will ultimately vest. A description of restricted stock units and the valuation methodologies used to value them are described below: | |||||||||||||||||
Restricted stock units with time-based vesting conditions | |||||||||||||||||
Time-based vesting restrictions lapse over two to four years. Restricted stock units with time-based vesting conditions are valued on the grant date using the grant date market price of the underlying shares. | |||||||||||||||||
Restricted stock units with performance-based vesting conditions | |||||||||||||||||
In December 2012, the Company granted 152,302 restricted stock units that vest upon the achievement of at least two years of service and a targeted revenue run rate of $500,000 (the “2012 Revenue RSUs”). The 2012 Revenue RSUs will vest upon the achievement of both (i) a performance condition and (ii) a service condition. The performance condition will be satisfied if the Company achieves a specified quarterly revenue target over a specified measurement period. To satisfy the service condition, the employee must remain employed by the Company until the later of the applicable performance determination date and the second anniversary of the date of grant. The number of 2012 Revenue RSUs that will vest upon the achievement of the performance condition and the service condition will vary based on when the performance condition is satisfied, from a maximum of 100% of the number of target shares to a threshold of 25% of the number of target shares with no vesting, absent certain circumstances in a change of control of the Company, if the targeted threshold is not achieved. If the revenue targets are not achieved by March 31, 2017, the 2012 Revenue RSUs will expire unvested. | |||||||||||||||||
In December 2013, the Company granted 102,803 restricted stock units that vest upon the achievement of at least three years of service and a targeted compound annual growth rate in revenue for the year ended December 31, 2016 (the “2013 Revenue RSUs”). The 2013 Revenue RSUs will vest upon the achievement of both (i) a performance condition and (ii) a service condition. The performance condition will be satisfied if the Company achieves a specified compound annual growth rate in revenue over the specified measurement period. To satisfy the service condition, the employee must remain employed by the Company until the applicable performance determination date. The number of Revenue RSUs that will vest upon the achievement of the performance condition and the service condition will vary based on the actual compound annual growth rate in revenue, from a maximum of 125% of the number of target shares to a threshold of 50% of the number of target shares with no vesting, absent certain circumstances in a change of control of the Company, if the targeted threshold is not achieved. If the targets are not achieved by December 31, 2016, the 2013 Revenue RSUs will expire unvested. | |||||||||||||||||
Restricted stock units with performance-based vesting conditions are valued on the grant date using the grant date market price of the underlying shares. At December 31, 2013, 224,645 of the 2012 Revenue RSUs and 2013 Revenue RSUs remain outstanding. At December 31, 2013, the Company also had outstanding 27,200 restricted stock units granted in prior years that contain performance-based vesting criteria. | |||||||||||||||||
Restricted stock units with market-based vesting conditions | |||||||||||||||||
In December 2012, the Company granted 95,188 restricted stock units that vest upon achievement of a total shareholder return relative to a peer group target (the “2012 TSR units”) measured over a three-year period that commenced December 4, 2012. The number of 2012 TSR units that will vest upon achievement of the target will vary based on the level of achievement from a maximum of 125% of the target shares, or 118,982, to a threshold of 50% of the target shares, or 47,594, with no vesting, absent certain circumstances in a change of control of the Company, if the threshold requirement is not achieved or the employee is no longer with the Company at the end of the three-year period. The 2012 TSR units are valued using a Monte Carlo simulation model. The number of units expected to vest, based on achievement of the 2012 TSR market condition, is factored into the grant date Monte Carlo valuation for the 2012 TSR units. Compensation cost is recognized regardless of the eventual number of units that vest based on the market condition. Expected volatility was based on historical volatility of the publicly traded stock of the peer group of companies, inclusive of the Company over the last three years. The risk-free interest rate was determined by reference to U.S. Treasury bond yields at or near the time of grant for three years. | |||||||||||||||||
In December 2013, the Company granted 52,498 restricted stock units that vest upon achievement of a total shareholder return relative to a peer group target (the “2013 TSR units”) measured over a three-year period that commenced December 3, 2013. The number of 2013 TSR units that will vest upon achievement of the target will vary based on the level of achievement from a maximum of 125% of the target shares, or 65,622, to a threshold of 50% of the target shares, or 26,249, with no vesting, absent certain circumstances in a change of control of the Company, if the threshold requirement is not achieved or the employee is no longer with the Company at the end of the three-year period. The 2013 TSR units are valued using a Monte Carlo simulation model. The number of units that are expected to vest, based on achievement of the 2013 TSR market condition, is factored into the grant date Monte Carlo valuation for the 2013 TSR units. Compensation cost is recognized regardless of the eventual number of units that vest based on the market condition. Expected volatility was based on historical volatility of the publicly traded stock of the peer group of companies, inclusive of the Company over the last three years. The risk-free interest rate was determined by reference to U.S. Treasury bond yields at or near the time of grant for three years. | |||||||||||||||||
The relevant assumptions used in the Monte Carlo simulation models include (but are not limited to) the following: | |||||||||||||||||
2013 | 2012 | ||||||||||||||||
Monte Carlo assumptions | |||||||||||||||||
Risk-free interest rate | 0.58% | 0.34% | |||||||||||||||
Volatility | 29.00% – 60.36% | 27.64% – 62.45% | |||||||||||||||
Compensation cost is recognized on a straight-line basis over the requisite service period. At December 31, 2013, 128,648 of the 2012 and 2013 TSR units remain outstanding. | |||||||||||||||||
The table below summarizes activity relating to all restricted stock units: | |||||||||||||||||
Number of Shares | Weighted | ||||||||||||||||
Underlying | Average Grant | ||||||||||||||||
Restricted Units | Date Fair Value | ||||||||||||||||
Unvested as of December 31, 2012 | 885,448 | $ | 17.4 | ||||||||||||||
Restricted units granted | 371,415 | 22.63 | |||||||||||||||
Restricted units vested | (208,959 | ) | 21.37 | ||||||||||||||
Restricted units forfeited/cancelled | (145,365 | ) | 17.49 | ||||||||||||||
Unvested as of December 31, 2013 | 902,539 | $ | 18.58 | ||||||||||||||
Stock Purchase Plan | |||||||||||||||||
The Company’s 2007 Employee Stock Purchase Plan, as amended (the “Purchase Plan”), became effective upon the completion of the Company’s initial public offering. Six-month offering periods begin on January 1 and July 1 of each year during which employees may elect to purchase shares of the Company’s common stock according to the terms of the offering. Prior to July 1, 2013, the per share purchase price for each offering was equal to 85% of the closing market price of the Company’s common stock on the last day of the offering period. Starting with the offering period that began on July 1, 2013, the per share purchase price for offerings is equal to the lesser of 85% of the closing market price of the Company’s common stock on the first day or last day of the offering period. During 2011, 41,677 shares of common stock were purchased for total proceeds to the Company of $859. During 2012, 78,081 shares of common stock were purchased for total proceeds to the Company of $1,053. During 2013, 79,456 shares of common stock were purchased for total proceeds to the Company of $1,089. On May 22, 2013, the Company’s stockholders approved an amendment to the Purchase Plan that increased the number of shares of common stock available for issuance under the Purchase Plan by 350,000. As of December 31, 2013, 381,135 shares of common stock were available for issuance to participating employees under the Purchase Plan. | |||||||||||||||||
Stock-Based Compensation | |||||||||||||||||
The Company recognized stock-based compensation expense on all awards in cost of revenue and operating expense categories as follows: | |||||||||||||||||
Years Ended | |||||||||||||||||
December 31, | |||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||
Cost of revenue | $ | 1,802 | $ | 1,758 | $ | 1,542 | |||||||||||
Research and development | 3,359 | 3,733 | 3,221 | ||||||||||||||
Sales and marketing | 3,741 | 3,187 | 2,588 | ||||||||||||||
General and administrative | 5,829 | 5,596 | 4,357 | ||||||||||||||
$ | 14,731 | $ | 14,274 | $ | 11,708 | ||||||||||||
The unrecognized compensation expense associated with outstanding stock options, restricted stock and restricted stock units at December 31, 2013 was $24,438, which is expected to be recognized over a weighted-average period of 2.54 years. | |||||||||||||||||
For the years ended December 31, 2013, 2012 and 2011, the Company recognized income tax benefits related to stock-based compensation expense of $5,507, $5,354 and $4,386, respectively, as a component in calculating its provision for income taxes. | |||||||||||||||||
Additionally, the Company capitalized $482, $785 and $670 of stock-based compensation expense related to the development of internal use software included in Property and equipment for the years ended December 31, 2013, 2012 and 2011, respectively. |
Income_Taxes
Income Taxes | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||||||
Income Taxes | ' | ||||||||||||
7. Income Taxes | |||||||||||||
The components of income tax expense (benefit) consisted of the following: | |||||||||||||
Years Ended | |||||||||||||
December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
(in thousands) | |||||||||||||
Current income tax expense (benefit) | |||||||||||||
Federal | $ | (76 | ) | $ | 52 | $ | — | ||||||
State | 438 | 474 | 406 | ||||||||||
Total current income tax expense | 362 | 526 | 406 | ||||||||||
Deferred income tax expense (benefit) | |||||||||||||
Federal | 2,054 | 3,299 | (8,402 | ) | |||||||||
State | (1,160 | ) | (644 | ) | (5,211 | ) | |||||||
Total deferred income tax expense (benefit) | 894 | 2,655 | (13,613 | ) | |||||||||
Total income tax expense (benefit) | $ | 1,256 | $ | 3,181 | $ | (13,207 | ) | ||||||
A reconciliation of the Company’s effective tax rate to the statutory federal income tax rate is as follows: | |||||||||||||
Years Ended | |||||||||||||
December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Statutory rate | 35 | % | 35 | % | 35 | % | |||||||
Decrease in deferred tax asset valuation allowance | — | — | (154 | ) | |||||||||
State taxes, net of federal benefit | 5 | 2 | 5 | ||||||||||
Impact of permanent differences | 3 | 3 | 2 | ||||||||||
Stock options | 18 | 11 | 15 | ||||||||||
Tax credits | (49 | ) | (6 | ) | (17 | ) | |||||||
Impact of change in effective state tax rates | — | — | (3 | ) | |||||||||
Provision to return adjustments | 4 | 2 | (8 | ) | |||||||||
Change in the fair value of contingent consideration liability | — | (27 | ) | — | |||||||||
Other | (1 | ) | (1 | ) | (4 | ) | |||||||
15 | % | 19 | % | (129 | )% | ||||||||
The Company had net deferred tax assets related to temporary differences and operating loss carry-forwards as follows: | |||||||||||||
December 31, | |||||||||||||
2013 | 2012 | ||||||||||||
Deferred tax assets | |||||||||||||
Current: | |||||||||||||
Accrued expenses | $ | 803 | $ | 609 | |||||||||
Total current | 803 | 609 | |||||||||||
Noncurrent: | |||||||||||||
Net operating loss carry-forwards | 167 | 5,520 | |||||||||||
Research and development credit carry-forwards | 11,826 | 8,068 | |||||||||||
Stock options | 7,080 | 6,121 | |||||||||||
Other | 62 | 39 | |||||||||||
Total noncurrent | 19,135 | 19,748 | |||||||||||
Total deferred tax assets | 19,938 | 20,357 | |||||||||||
Deferred tax liabilities-non-current | |||||||||||||
Capitalized research and development | (7,868 | ) | (5,663 | ) | |||||||||
Fixed assets | (72 | ) | (1,304 | ) | |||||||||
Intangible assets | (1,621 | ) | (2,120 | ) | |||||||||
Total deferred tax liabilities — non-current | (9,561 | ) | (9,087 | ) | |||||||||
Net deferred tax assets | $ | 10,377 | $ | 11,270 | |||||||||
The change in the valuation allowance in 2011 of $15,828 was due to the release of the valuation allowance in 2011. There were no changes to the valuation allowance for the years ended December 31, 2012 or 2013. | |||||||||||||
At December 31, 2013, the Company had federal and state net operating loss carry-forwards of approximately $33,500 and $849, respectively, which, if unused, expire at varying dates through 2033 for federal income tax purposes and at varying dates through 2018 for state income tax purposes. At December 31, 2013, $30,982 of federal net operating loss carry-forwards and $849 of state net operating loss carry-forwards relate to deductions for stock option compensation for which the associated tax benefit will be credited to additional paid-in capital when realized. This amount is tracked separately and not included in the Company’s deferred tax assets. | |||||||||||||
At December 31, 2013, the Company had federal and state research and development credit carry-forwards of $7,475 and $5,524, respectively, which, if unused, will expire at varying dates through 2033 for federal income tax purposes and at varying dates through 2028 for state income tax purposes. Additionally, the Company has $1,169 of Massachusetts investment tax credits, which, if unused, will expire at varying dates through 2015. | |||||||||||||
The American Taxpayer Relief Act of 2012 (the “Act”) was enacted on January 2, 2013. The Act retroactively reinstated the federal research and development credit from January 1, 2012, through December 31, 2013. As a result of the change in the tax law, the Company recognized a benefit of $1,324 to income tax expense in the first quarter of 2013, the quarter in which the law was enacted for certain expenses incurred in 2012. | |||||||||||||
The Company had not recorded any amounts for unrecognized tax benefits as of December 31, 2013, 2012 or 2011. | |||||||||||||
The Company’s policy is to record estimated interest and penalties related to the underpayment of income taxes as a component of its income tax provision. As of December 31, 2013 and 2012, the Company had no accrued interest or tax penalties recorded. The Company’s income tax return reporting periods since December 31, 2010 are open to income tax audit examination by the federal and state tax authorities. In addition, because the Company has net operating loss carry-forwards, the Internal Revenue Service is permitted to audit earlier years and propose adjustments up to the amount of net operating loss generated in those years. | |||||||||||||
The Company has performed an analysis of its changes in ownership under Section 382 of the Internal Revenue Code of 1986, as amended (the “Code”), and has determined that any ownership changes which have occurred do not result in a permanent limitation on usage of the Company’s federal and state net operating losses. |
Accrued_Expenses
Accrued Expenses | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Payables And Accruals [Abstract] | ' | ||||||||
Accrued Expenses | ' | ||||||||
8. Accrued Expenses | |||||||||
December 31, | |||||||||
2013 | 2012 | ||||||||
Payroll and payroll related | $ | 4,106 | $ | 3,800 | |||||
Licensed software and maintenance | 1,197 | 1,627 | |||||||
Marketing programs | 575 | 1,197 | |||||||
Other accrued expenses | 5,025 | 4,179 | |||||||
$ | 10,903 | $ | 10,803 | ||||||
401k_Savings_Plan
401(k) Savings Plan | 12 Months Ended |
Dec. 31, 2013 | |
Compensation And Retirement Disclosure [Abstract] | ' |
401(k) Savings Plan | ' |
9. 401(k) Savings Plan | |
The Company has a defined contribution savings plan under Section 401(k) of the Code. This plan covers substantially all employees who meet minimum age and service requirements and allows participants to defer a portion of their annual compensation on a pre-tax basis. Company contributions to the plan may be made at the discretion of the Board of Directors. The Company elected to make matching contributions for the plan years ending December 31, 2013, 2012 and 2011 at a rate of 100% of each employee’s contribution up to a maximum matching contribution of 3% of the employee’s compensation and at a rate of 50% of each employee’s contribution in excess of 3% up to a maximum of 5% of the employee’s compensation. | |
The Company made matching contributions of an aggregate of $2,937, $2,457 and $1,955 for the years ended December 31, 2013, 2012 and 2011, respectively. |
Commitments_and_Contingencies
Commitments and Contingencies | 12 Months Ended | ||||
Dec. 31, 2013 | |||||
Commitments And Contingencies Disclosure [Abstract] | ' | ||||
Commitments and Contingencies | ' | ||||
10. Commitments and Contingencies | |||||
Office Leases | |||||
The Company has a lease for its headquarters space in Waltham, Massachusetts (the “Lease”) that is effective through September 2022 with one ten-year extension option. The Lease includes space the Company is currently occupying as well as space that will be made available at various points in time during the term. | |||||
The Company leases office space for a sales and support office in Colorado under a lease agreement effective through April 2019 with three three-year extension options. The Company also leases small amounts of general office space in Florida, New York, California and the United Kingdom under lease agreements that expire at various dates through 2018. | |||||
Lease incentives, payment escalations and rent holidays specified in the lease agreements are accrued or deferred as appropriate such that rent expense per square foot is recognized on a straight-line basis over the terms of occupancy. | |||||
At December 31, 2013 and 2012, the Company had both prepaid rent and accrued rent balances related to its office leases. The prepaid rent balance was $634 at December 31, 2013, of which $128 was included in prepaid expenses and other current assets and $506 was included in other assets. The accrued rent balance was $2,239 at December 31, 2013, of which $351 was included in accrued expenses and $1,888 was included in other long-term liabilities. The prepaid rent balance was $1,725 at December 31, 2012, of which $302 was included in prepaid expenses and other current assets and $1,423 was included in other assets. The accrued rent balance was $2,154 at December 31, 2012, of which $282 was included in accrued expenses and $1,872 was included in other long-term liabilities. | |||||
Total rent expense under office leases was $8,149, $7,102 and $6,163 for the years ended December 31, 2013, 2012 and 2011, respectively. | |||||
As of December 31, 2013, future minimum lease payments under noncancelable office leases are as follows: | |||||
2014 | $ | 8,354 | |||
2015 | 9,238 | ||||
2016 | 10,194 | ||||
2017 | 10,153 | ||||
2018 | 9,747 | ||||
Thereafter | 30,954 | ||||
Total | $ | 78,640 | |||
Third-Party Hosting Agreements | |||||
The Company has agreements with two affiliated vendors to provide specialized space and equipment and related services from which the Company hosts its software applications. | |||||
Payment escalations and rent holidays specified in these agreements are accrued or deferred as appropriate such that rent expense per square foot is recognized on a straight-line basis over the terms of occupancy. At December 31, 2013 and 2012, the Company had both prepaid rent and accrued rent balances related to these agreements. At December 31, 2013, the Company had prepaid rent of $861, of which $360 was included in prepaid expenses and other current assets and $501 was included in other assets. The accrued rent balance of $173 was included in other long-term liabilities. At December 31, 2012, the Company had prepaid rent of $1,120, of which $259 was included in prepaid expenses and other current assets and $861 was included in other assets. The accrued rent balance of $138 was included in other long-term liabilities. | |||||
Total rent expense under hosting agreements was $4,038, $4,073 and $3,573 for the years ended December 31, 2013, 2012 and 2011, respectively. | |||||
The agreements include payment commitments that expire at various dates through mid-2017. As of December 31, 2013, future minimum payments under the agreements are as follows: | |||||
2014 | $ | 3,828 | |||
2015 | 3,938 | ||||
2016 | 4,049 | ||||
2017 | 775 | ||||
Total | $ | 12,590 | |||
Vendor Commitments | |||||
As of December 31, 2013, the Company had issued both cancellable and non-cancellable purchase orders to various vendors and entered into contractual commitments with various vendors totaling $16,540 related primarily to marketing programs and other non-marketing goods and services to be delivered during 2014. | |||||
Letters of Credit and Restricted Cash | |||||
As of December 31, 2012, the Company maintained a letter of credit totaling $750 for the benefit of the landlord of the Company’s corporate headquarters lease. The landlord can draw against the letter of credit in the event of default by the Company. In connection with a lease amendment signed in December 2012, the Company agreed to increase the amount of the letter of credit to $1,300 in 2013. Additionally, the Company agreed to increase the amount of the letter of credit at future points to a maximum amount of $1,875 if certain financial tests have not been met. The Company was required to maintain a cash balance of at least $1,300 and $750 as of December 31, 2013 and 2012, respectively, to secure the letter of credit. These amounts were classified as restricted cash in the balance sheet at December 31, 2013 and 2012. | |||||
Contingent Consideration | |||||
The former shareholders of SinglePlatform were eligible to receive consideration of up to $30,000, which was contingent on the achievement of certain revenue targets within the period from July 1, 2012 to June 30, 2014, measured in six month intervals. If such conditions were achieved, the consideration would have been payable in cash. As of December 31, 2013, the first three targets had not been met. Additionally, the Company does not believe the final target will be met. Accordingly, the Company’s accrual for this contingency as of December 31, 2013 was $0. | |||||
Indemnification Obligations | |||||
The Company enters into standard indemnification agreements with the Company’s partners and certain other third parties in the ordinary course of business. Pursuant to these agreements, the Company indemnifies and agrees to reimburse the indemnified party for losses incurred by the indemnified party in connection with certain intellectual property infringement and other claims by any third party with respect to the Company’s business and technology. Based on historical information and information known as of December 31, 2013, the Company does not expect it will incur any significant liabilities under these indemnification agreements. | |||||
Legal Matters | |||||
On August 7, 2012, two former employees, on behalf of themselves and all other similarly situated individuals (collectively, the “FLSA Plaintiffs”), filed a complaint in the U.S. District Court for the District of Massachusetts | |||||
that named the Company as a defendant in a lawsuit. The complaint, which was served on the Company on August 9, 2012, alleged that the Company violated the Fair Labor Standards Act and the Massachusetts overtime law with respect to certain current and former sales employees. The FLSA Plaintiffs sought an award for damages in an unspecified amount. The Company and counsel for the FLSA Plaintiffs participated in a court-sanctioned mediation session with an independent mediator in March 2013 and, during the three months ended March 31, 2013, the Company recorded an accrual of $820. In July 2013, the Company and the FLSA Plaintiffs executed a settlement agreement that would terminate the litigation and settle all pending claims against the Company in exchange for an aggregate payment of $800. The U.S. District Court approved the settlement and settlement payments were distributed to all FLSA Plaintiffs in the fourth quarter of 2013. | |||||
On September 24, 2012, RPost Holdings, Inc., RPost Communications Limited and RMail Limited (collectively, “RPost”) filed a complaint in the U.S. District Court for the Eastern District of Texas that named the Company as a defendant in a lawsuit. The complaint, which was served on the Company on December 26, 2012, alleges that certain elements of the Company’s email marketing technology infringe five patents held by RPost. RPost seeks an award for damages in an unspecified amount and injunctive relief. On February 11, 2013, RPost amended its complaint to name five of the Company’s partners as defendants. Under the Company’s contractual agreements with these partners, the Company is obligated to indemnify them for claims related to patent infringement. The Company filed a motion to sever and stay the claims against its partners and multiple motions to dismiss the claims against the Company. In January 2014, the case was stayed pending the resolution of certain state court and bankruptcy court actions involving RPost, to which the Company is not a party. RPost has asked the court to reconsider the order to stay the case. This litigation is in its very early stages. As a result, neither the ultimate outcome of this litigation nor an estimate of a probable loss or any reasonably possible losses can be assessed at this time. Nevertheless, the Company believes that it has meritorious defenses to any claim of infringement and intends to defend itself vigorously. | |||||
On November 14, 2012, the Company filed a complaint in the U.S. District Court for the District of Delaware against Umbanet, Inc. (“Umbanet”) seeking a declaratory judgment that two patents held by Umbanet (the “Umbanet Patents”) are not infringed by a customer’s use of the Company’s email marketing product and that such patents are invalid (the “Delaware Case”). The Company filed the Delaware Case in response to a complaint filed by Umbanet in the U.S. District Court for the District of New Jersey against one of the Company’s customers alleging that the customer’s use of the Company’s email marketing product infringed the Umbanet Patents (the “New Jersey Case”). Umbanet filed a motion in the Delaware Case seeking to dismiss the complaint or, in the alternative, stay the case pending resolution of the New Jersey Case. The Company filed a motion in the New Jersey Case seeking to stay the case pending resolution of the Delaware Case. In January 2014, the judge in the New Jersey Case ordered that the case should proceed notwithstanding the pending Delaware Case. These litigation matters are in a very early stage. As a result, neither the ultimate outcome of these matters nor an estimate of a probable loss or any reasonably possible losses can be assessed at this time. Nevertheless, the Company believes that it has meritorious defenses to any claim of infringement and intends to pursue these matters vigorously. | |||||
On March 7, 2013, CreateAds LLC (“CreateAds”) filed a complaint in the U.S. District Court for the District of Delaware that named the Company as a defendant in a lawsuit. The complaint, which was served on the Company on March 8, 2013, alleges that certain elements of the Company’s email marketing technology infringe a patent held by CreateAds. CreateAds seeks an award for damages in an unspecified amount and injunctive relief. The Company filed a motion to dismiss the complaint. In February 2014, the case was stayed pending a decision by the United States Supreme Court in the appeal of a patent case with issues very similar to the ones pending in the Company’s motion to dismiss. Following the Supreme Court’s decision, which is expected in June 2014, the district court will decide the Company’s motion to dismiss the CreateAds complaint. This litigation is in its very early stages. As a result, neither the ultimate outcome of this matter nor an estimate of a probable loss or any reasonably possible losses can be assessed at this time. Nevertheless, the Company believes that it has meritorious defenses to any claim of infringement and intends to defend the lawsuit vigorously. | |||||
The Company is from time to time subject to various other legal proceedings and claims, either asserted or unasserted, which arise in the ordinary course of its business. While the outcome of these other claims cannot be predicted with certainty, management does not believe that the outcome of any of these other legal matters will have a material adverse effect on the Company’s results of operations or financial condition. |
Quarterly_Information_Unaudite
Quarterly Information (Unaudited) | 12 Months Ended | ||||||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | ' | ||||||||||||||||||||||||||||||||
Quarterly Information (Unaudited) | ' | ||||||||||||||||||||||||||||||||
11. Quarterly Information (Unaudited) | |||||||||||||||||||||||||||||||||
Three Months Ended | |||||||||||||||||||||||||||||||||
Dec. 31, | Sept. 30, | June 30, | March 31, | Dec. 31, | Sept. 30, | June 30, | March 31, | ||||||||||||||||||||||||||
2013 | 2013 | 2013 | 2013 | 2012 | 2012 | 2012 | 2012 | ||||||||||||||||||||||||||
Statements of Operations Data: | |||||||||||||||||||||||||||||||||
Revenue | $ | 74,931 | $ | 72,039 | $ | 70,208 | $ | 68,205 | $ | 66,298 | $ | 63,846 | $ | 62,072 | $ | 59,938 | |||||||||||||||||
Gross profit | 54,279 | 51,561 | 49,630 | 48,297 | 47,506 | 45,124 | 43,638 | 42,339 | |||||||||||||||||||||||||
Income (loss) from operations(1) | 5,498 | 5,508 | (98 | ) | (2,613 | ) | 7,805 | 8,531 | (406 | ) | (414 | ) | |||||||||||||||||||||
Net income (loss)(1) | 4,516 | 3,320 | 32 | (654 | ) | 6,222 | 6,621 | (472 | ) | 195 | |||||||||||||||||||||||
Basic net income (loss) per share(1) | $ | 0.15 | $ | 0.11 | $ | 0 | $ | (0.02 | ) | $ | 0.2 | $ | 0.22 | $ | (0.02 | ) | $ | 0.01 | |||||||||||||||
Diluted net income (loss) per share(1) | $ | 0.14 | $ | 0.11 | $ | 0 | $ | (0.02 | ) | $ | 0.2 | $ | 0.21 | $ | (0.02 | ) | $ | 0.01 | |||||||||||||||
-1 | Comparability affected by a change (benefit) in the fair value of a contingent consideration liability of $6,094 and $6,058 in the third and fourth quarters of 2012, respectively. |
Summary_of_Significant_Account1
Summary of Significant Accounting Policies (Policies) | 12 Months Ended | |||
Dec. 31, 2013 | ||||
Accounting Policies [Abstract] | ' | |||
Basis of Presentation | ' | |||
Basis of Presentation | ||||
The accompanying consolidated financial statements include those of the Company and its subsidiaries, after elimination of all intercompany accounts and transactions. The accompanying consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”). | ||||
Revision of Prior Period Consolidated Financial Statements | ||||
During the fourth quarter of 2013, the Company identified certain prior period errors in income tax expense, which affected the years ended December 31, 2011 and 2012 as well as certain interim periods within those years and interim periods within the year ended December 31, 2013. The prior period errors in income tax expense relate to the Company’s accounting for deferred income taxes associated with certain stock-based compensation awards in accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 718, Compensation — Stock Compensation. As a result of a detailed analysis performed by the Company, management determined that its deferred tax asset associated with stock-based compensation awards did not contemplate certain shortfalls on the exercise of stock options and vesting of restricted stock awards and, as such, the carrying amount of the deferred tax asset balances as of December 31, 2011 and December 31, 2012, certain interim periods within those years and interim periods in 2013 were overstated. In addition, the Company decided to revise the presentation of one other immaterial 2013 interim period error that overstated sales tax expense and that had been previously corrected in the Company’s consolidated financial statements in an interim reporting period other than the interim periods in which the error originated. There was no effect on annual consolidated financial statements for this error as the error and the error correction occurred within one annual period. The Company has reflected the correction of all identified prior period errors in the periods in which they originated (the “2013 Revision”) throughout this document. | ||||
In evaluating whether the Company’s previously issued consolidated financial statements were materially misstated, the Company considered the guidance in ASC Topic 250, Accounting Changes and Error Corrections, ASC Topic 250-10-S99-1, Assessing Materiality, and ASC Topic 250-10-S99-2, Considering the Effects of Prior Year Misstatements when Quantifying Misstatements in Current Year Financial Statements. The Company concluded that these errors were not material, individually or in the aggregate, to any of the prior reporting periods. However, if the entire correction was recorded in the fourth quarter of 2013, the cumulative amount would be material in the fourth quarter of 2013 and would have impacted comparisons to prior periods. As such, the revisions for these corrections are reflected in the applicable prior periods within each of the consolidated financial statements and the revisions for these corrections are reflected within the applicable footnotes (Note 7 and Note 11). The revisions for these corrections will be reflected in future filings containing such financial information. | ||||
Use of Estimates | ' | |||
Use of Estimates | ||||
The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. On an ongoing basis, management evaluates these estimates, judgments and assumptions, including those related to revenue recognition, stock-based compensation, goodwill and acquired intangible assets, capitalization of software and website development costs, contingent consideration liability and income taxes. The Company bases these estimates on historical and anticipated results and trends and on various other assumptions that the Company believes are reasonable under the circumstances, including assumptions as to future events. These estimates form the basis for making judgments about the carrying values of assets and liabilities and recorded revenue and expenses that are not readily apparent from other sources. Actual results could differ from these estimates. | ||||
Fair Value of Financial Instruments | ' | |||
Fair Value of Financial Instruments | ||||
Certain assets and liabilities are carried at fair value under GAAP. Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs. A fair value hierarchy based on three levels of inputs, of which the first two are considered observable and the last is considered unobservable, are used to measure fair value: | ||||
• | Level 1 — Quoted prices in active markets for identical assets or liabilities. | |||
• | Level 2 — Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. | |||
• | Level 3 — Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. | |||
Fair Value Option for Financial Assets and Financial Liabilities | ' | |||
Fair Value Option for Financial Assets and Financial Liabilities | ||||
Authoritative guidance allows companies to choose to measure many financial instruments and certain other items at fair value. The Company has elected not to apply the fair value option to any of its financial assets or liabilities. | ||||
Cash and Cash Equivalents | ' | |||
Cash and Cash Equivalents | ||||
The Company considers all highly liquid investments with original maturities of three months or less at the time of acquisition to be cash equivalents. The Company also considers receivables related to customer credit card purchases of $2,901 and $2,509 at December 31, 2013 and 2012, respectively, to be equivalent to cash. Cash equivalents are stated at fair value. | ||||
Marketable Securities | ' | |||
Marketable Securities | ||||
The Company’s marketable securities are classified as available-for-sale and are carried at fair value with the unrealized gains and losses reported as a component of accumulated other comprehensive income in stockholders’ equity. Realized gains and losses and declines in value judged to be other than temporary are included as a component of interest and other income based on the specific identification method. Fair value is determined based on quoted market prices. | ||||
Accounts Receivable | ' | |||
Accounts Receivable | ||||
Management reviews accounts receivable on a periodic basis to determine if any receivables will potentially be uncollectible. The Company reserves for receivables that are determined to be uncollectible, if any, in its allowance for doubtful accounts. After the Company has exhausted all collection efforts, the outstanding receivable is written off against the allowance. | ||||
Concentration of Credit Risk and Significant Products and Customers | ' | |||
Concentration of Credit Risk and Significant Products and Customers | ||||
Financial instruments that potentially expose the Company to concentrations of credit risk consist primarily of cash, cash equivalents and marketable securities. At December 31, 2013 and 2012, the Company had substantially all cash balances at certain financial institutions without or in excess of federally insured limits, however, the Company maintains its cash balances and custody of its marketable securities with accredited financial institutions. The Company does not believe that it is subject to unusual credit risk beyond the normal credit risk associated with commercial banking relationships. | ||||
For the years ended December 31, 2013, 2012 and 2011, revenue from the Company’s email marketing product alone as a percentage of total revenue was approximately 84%, 85% and 88%, respectively. No customer accounted for more than 10% of total revenue during these years. | ||||
Goodwill and Acquired Intangible Assets | ' | |||
Goodwill and Acquired Intangible Assets | ||||
The Company records goodwill when consideration paid in a business acquisition exceeds the fair value of the net tangible assets and the identified intangible assets acquired. Goodwill is not amortized, but rather is tested for impairment annually or more frequently if facts and circumstances warrant a review. The Company performs its annual assessment for impairment of goodwill on November 30th of each year and has determined that there is a single reporting unit for the purpose of conducting this annual goodwill impairment assessment. For purposes of assessing potential impairment, the Company annually estimates the fair value of the reporting unit (based on the Company’s market capitalization) and compares this amount to the carrying value of the reporting unit (as reflected by the Company’s total stockholders’ equity). If the Company determines that the carrying value of the reporting unit exceeds its fair value, an impairment charge would be required. | ||||
Intangible assets are recorded at their estimated fair values at the date of acquisition. The Company amortizes acquired intangible assets over their estimated useful lives based on the pattern of consumption of the economic benefits or, if that pattern cannot be readily determined, on a straight-line basis. | ||||
Property and Equipment | ' | |||
Property and Equipment | ||||
Property and equipment are recorded at cost and depreciated using the straight-line method over the estimated useful life of the assets or, where applicable and if shorter, over the lease term. Upon retirement or sale, the cost of assets disposed of and the related accumulated depreciation are eliminated from the accounts and any resulting gain or loss is credited or charged to the statement of operations. Repairs and maintenance costs are expensed as incurred. | ||||
Estimated useful lives of assets are as follows: | ||||
Computer equipment | 3 years | |||
Software | 3 years | |||
Furniture and fixtures | 5 years | |||
Leasehold improvements | Shorter of life of lease or | |||
estimated useful life | ||||
Long-Lived Assets | ' | |||
Long-Lived Assets | ||||
The Company reviews the carrying values of its long-lived assets for possible impairment when events or changes in circumstance indicate that the related carrying amount may not be recoverable. Undiscounted cash flows are compared to the carrying value and when required, impairment losses on assets to be held and used are recognized based on the excess of the asset’s carrying amount over the fair value of the asset. Long-lived assets to be disposed of are reported at the lower of carrying amount or fair value less cost to sell. | ||||
Revenue Recognition | ' | |||
Revenue Recognition | ||||
The Company provides access to its products primarily through subscription arrangements whereby the customer is charged a fee for access for a defined term. Subscription arrangements include access to use the Company’s software via the Internet and support services, such as telephone, email and chat support. When there is evidence of an arrangement, the fee is fixed or determinable and collectability is deemed reasonably assured, the Company recognizes revenue on a daily basis over the subscription period as the services are delivered. Delivery is considered to have commenced at the time the customer has paid for the products and has access to the account via a log-in and password. The Company generates revenue from its SaveLocal product by charging a fee to its customers based on the number of deals sold by its customers and the value of the successful deal. The Company recognizes revenue from the fee charged when there is evidence of an arrangement, the fee is fixed or determinable and collectability is deemed reasonably assured. The Company also offers ancillary services to its customers related to its subscription-based products such as custom services and training. When sold together, revenue from custom services, training and subscription products are accounted for separately based on vendor specific objective evidence of fair value of each of the services as those services have value on a standalone basis and do not involve a significant degree of risk or unique acceptance criteria. Revenue from custom services and training is recognized as the services are performed. | ||||
Deferred Revenue | ' | |||
Deferred Revenue | ||||
Deferred revenue consists of payments received in advance of delivery of the Company’s on-demand products described above and is recognized as the revenue recognition criteria are met. The Company’s customers generally pay for services in advance on a monthly, semiannual or annual basis. | ||||
Software and Website Development Costs | ' | |||
Software and Website Development Costs | ||||
Research and development costs are expensed as incurred and primarily include salaries, fees to consultants, and other related costs. Relative to development costs of its on-demand products and website, the Company capitalizes certain direct costs to develop functionality as well as certain upgrades and enhancements that are probable to result in additional functionality. The costs incurred in the preliminary stages of development are expensed as incurred. Once an application has reached the development stage, internal and external costs, if direct and incremental, are capitalized as part of property and equipment until the software is substantially complete and ready for its intended use. Capitalized software is amortized over a three-year period in the expense category to which the software relates. | ||||
Foreign Currency Translation | ' | |||
Foreign Currency Translation | ||||
The functional currency of the Company’s UK operations is deemed to be the British pound. Accordingly, the assets and liabilities of the Company’s UK subsidiary are translated into United States dollars using the period-end exchange rate, and income and expense items are translated using the average exchange rate during the period. Cumulative translation adjustments are reflected as a separate component of stockholders’ equity. Foreign currency transaction gains and losses are charged to Other income (expense), net and were not material to the Company’s operations. | ||||
Comprehensive Income | ' | |||
Comprehensive Income | ||||
Comprehensive income includes net income, as well as other changes in stockholders’ equity that result from transactions and economic events other than those with stockholders. The Company’s only elements of other comprehensive income (loss) are unrealized gains and losses on available-for-sale securities and translation adjustments. | ||||
Segment Data | ' | |||
Segment Data | ||||
The Company manages its operations as a single segment for purposes of assessing performance and making operating decisions. Revenue is generated predominately in the U.S. and all significant assets are held in the U.S. | ||||
Net Income Per Share | ' | |||
Net Income Per Share | ||||
Basic net income per share is computed by dividing net income by the weighted average number of unrestricted common shares outstanding for the period. | ||||
Diluted net income per share is computed by dividing net income by the sum of the weighted average number of unrestricted common shares outstanding during the period and the weighted average number of potential common shares from the assumed exercise of stock options and the vesting of shares of restricted common stock and restricted stock units using the “treasury stock” method when the effect is not anti-dilutive. | ||||
Advertising Expense | ' | |||
Advertising Expense | ||||
The Company expenses advertising as incurred. Advertising expense was $39,796, $35,350 and $36,437 during the years ended December 31, 2013, 2012 and 2011, respectively. | ||||
Accounting for Stock-Based Compensation | ' | |||
Accounting for Stock-Based Compensation | ||||
The Company values all stock-based compensation, including grants of stock options, restricted stock and restricted stock units, at fair value on the date of grant, and expenses the fair value over the applicable service period. The straight-line method is applied to all grants with service conditions, while the graded vesting method is applied to all grants with both service and performance conditions. | ||||
Income Taxes | ' | |||
Income Taxes | ||||
Income taxes are provided for tax effects of transactions reported in the financial statements and consist of income taxes currently due plus deferred income taxes related to timing differences between the basis of certain assets and liabilities for financial statement and income tax reporting purposes. Deferred taxes are determined based on the difference between the financial statement and tax basis of assets and liabilities using enacted tax rates in effect in the years in which the differences are expected to reverse. A valuation allowance is provided if, based upon the weight of available evidence, it is more likely than not that some or all of the deferred tax assets will not be realized. | ||||
The Company accounts for uncertainty in income taxes recognized in the financial statements by applying a two-step process to determine the amount of tax benefit to be recognized. First, the tax position must be evaluated to determine the likelihood that it will be sustained upon external examination. If the tax position is deemed “more-likely-than-not” to be sustained, the tax position is then assessed to determine the amount of benefit to recognize in the financial statements. The amount of the benefit that may be recognized is the largest amount that has a greater than 50% likelihood of being realized upon ultimate settlement. |
Summary_of_Significant_Account2
Summary of Significant Accounting Policies (Tables) | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
Accounting Policies [Abstract] | ' | ||||||||||||||||||||||||
Schedule of Effects of Prior Period Errors in Consolidated Financial Statements | ' | ||||||||||||||||||||||||
The following tables present the effects of these prior period errors in the consolidated financial statements: | |||||||||||||||||||||||||
Impact of 2013 Revision to previously reported 2013 consolidated interim results (unaudited): | |||||||||||||||||||||||||
Three Months Ended | Three Months Ended | Six Months Ended | |||||||||||||||||||||||
March 31, 2013 | June 30, 2013 | June 30, 2013 | |||||||||||||||||||||||
As Previously | As Revised | As Previously | As Revised | As Previously | As Revised | ||||||||||||||||||||
Reported | Reported | Reported | |||||||||||||||||||||||
(unaudited) | |||||||||||||||||||||||||
Consolidated Statements of Operations and Comprehensive Income (Loss) | |||||||||||||||||||||||||
General and administrative | $ | 9,894 | $ | 9,840 | $ | 10,048 | $ | 9,925 | $ | 19,942 | $ | 19,765 | |||||||||||||
Total operating expenses | $ | 50,964 | $ | 50,910 | $ | 49,851 | $ | 49,728 | $ | 100,815 | $ | 100,638 | |||||||||||||
Income tax (expense) benefit | $ | 2,182 | $ | 1,988 | $ | 299 | $ | 118 | $ | 2,481 | $ | 2,106 | |||||||||||||
Net income (loss) | $ | (514 | ) | $ | (654 | ) | $ | 90 | $ | 32 | $ | (424 | ) | $ | (622 | ) | |||||||||
Net income (loss) per share — basic | $ | (0.02 | ) | $ | (0.02 | ) | $ | 0 | $ | 0 | $ | (0.01 | ) | $ | (0.02 | ) | |||||||||
Net income (loss) per share — diluted | $ | (0.02 | ) | $ | (0.02 | ) | $ | 0 | $ | 0 | $ | (0.01 | ) | $ | (0.02 | ) | |||||||||
Comprehensive income (loss) | $ | (515 | ) | $ | (655 | ) | $ | 87 | $ | 29 | $ | (428 | ) | $ | (626 | ) | |||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||||||||||
September 30, 2013 | September 30, 2013 | ||||||||||||||||||||||||
As Previously | As Revised | As Previously | As Revised | ||||||||||||||||||||||
Reported | Reported | ||||||||||||||||||||||||
(unaudited) | |||||||||||||||||||||||||
Consolidated Statements of Operations and Comprehensive Income (Loss) | |||||||||||||||||||||||||
General and administrative | $ | 9,136 | $ | 9,312 | $ | 29,078 | $ | 29,077 | |||||||||||||||||
Total operating expenses | $ | 45,877 | $ | 46,053 | $ | 146,692 | $ | 146,691 | |||||||||||||||||
Income tax (expense) benefit | $ | (2,215 | ) | $ | (2,321 | ) | $ | 266 | $ | (215 | ) | ||||||||||||||
Net income (loss) | $ | 3,602 | $ | 3,320 | $ | 3,178 | $ | 2,698 | |||||||||||||||||
Net income (loss) per share — basic | $ | 0.12 | $ | 0.11 | $ | 0.1 | $ | 0.09 | |||||||||||||||||
Net income (loss) per share — diluted | $ | 0.11 | $ | 0.11 | $ | 0.1 | $ | 0.09 | |||||||||||||||||
Comprehensive income (loss) | $ | 3,612 | $ | 3,330 | $ | 3,184 | $ | 2,704 | |||||||||||||||||
Impact of 2013 Revision to previously reported 2012 consolidated interim results (unaudited): | |||||||||||||||||||||||||
Three Months Ended | Three Months Ended | Six Months Ended | |||||||||||||||||||||||
March 31, 2012 | June 30, 2012 | June 30, 2012 | |||||||||||||||||||||||
As Previously | As Revised | As Previously | As Revised | As Previously | As Revised | ||||||||||||||||||||
Reported | Reported | Reported | |||||||||||||||||||||||
(unaudited) | |||||||||||||||||||||||||
Consolidated Statements of Operations and Comprehensive Income (Loss) | |||||||||||||||||||||||||
Income tax (expense) benefit | $ | 561 | $ | 538 | $ | (118 | ) | $ | (128 | ) | $ | 443 | $ | 410 | |||||||||||
Net income (loss) | $ | 218 | $ | 195 | $ | (462 | ) | $ | (472 | ) | $ | (244 | ) | $ | (277 | ) | |||||||||
Net income (loss) per share — basic | $ | 0.01 | $ | 0.01 | $ | (0.02 | ) | $ | (0.02 | ) | $ | (0.01 | ) | $ | (0.01 | ) | |||||||||
Net income (loss) per share — diluted | $ | 0.01 | $ | 0.01 | $ | (0.02 | ) | $ | (0.02 | ) | $ | (0.01 | ) | $ | (0.01 | ) | |||||||||
Comprehensive income (loss) | $ | 198 | $ | 175 | $ | (485 | ) | $ | (495 | ) | $ | (287 | ) | $ | (320 | ) | |||||||||
Nine Months Ended | |||||||||||||||||||||||||
September 30, 2012 | |||||||||||||||||||||||||
As Previously | As Revised | ||||||||||||||||||||||||
Reported | |||||||||||||||||||||||||
(unaudited) | |||||||||||||||||||||||||
Consolidated Statements of Operations and Comprehensive Income (Loss) | |||||||||||||||||||||||||
Income tax (expense) benefit | $ | (1,535 | ) | $ | (1,568 | ) | |||||||||||||||||||
Net income (loss) | $ | 6,377 | $ | 6,344 | |||||||||||||||||||||
Net income (loss) per share — basic | $ | 0.21 | $ | 0.21 | |||||||||||||||||||||
Net income (loss) per share — diluted | $ | 0.21 | $ | 0.2 | |||||||||||||||||||||
Comprehensive income (loss) | $ | 6,338 | $ | 6,305 | |||||||||||||||||||||
Impact of 2013 Revision to previously reported consolidated annual results for the years ended December 31, 2012 and 2011: | |||||||||||||||||||||||||
Year Ended | Year Ended | ||||||||||||||||||||||||
December 31, 2012 | December 31, 2011 | ||||||||||||||||||||||||
As Previously | As Revised | As Previously | As Revised | ||||||||||||||||||||||
Reported | Reported | ||||||||||||||||||||||||
Consolidated Statements of Operations and Comprehensive Income (Loss) | |||||||||||||||||||||||||
Income tax (expense) benefit | $ | (2,991 | ) | $ | (3,181 | ) | $ | 13,420 | $ | 13,207 | |||||||||||||||
Net income (loss) | $ | 12,756 | $ | 12,566 | $ | 23,679 | $ | 23,466 | |||||||||||||||||
Net income (loss) per share — basic | $ | 0.42 | $ | 0.41 | $ | 0.8 | $ | 0.79 | |||||||||||||||||
Net income (loss) per share — diluted | $ | 0.41 | $ | 0.41 | $ | 0.77 | $ | 0.77 | |||||||||||||||||
Comprehensive income | $ | 12,706 | $ | 12,516 | $ | 23,727 | $ | 23,514 | |||||||||||||||||
Consolidated Statements of Cash Flows | |||||||||||||||||||||||||
Net income | $ | 12,756 | $ | 12,566 | $ | 23,679 | $ | 23,466 | |||||||||||||||||
Deferred taxes | $ | 2,465 | $ | 2,738 | $ | (13,827 | ) | $ | (13,385 | ) | |||||||||||||||
Taxes paid related to net share settlement of equity awards | $ | (598 | ) | $ | (597 | ) | $ | (319 | ) | $ | (319 | ) | |||||||||||||
Impact of 2013 Revision to previously reported consolidated balance sheets as of December 31, 2012 and 2011: | |||||||||||||||||||||||||
As of December 31, 2012 | As of December 31, 2011 | ||||||||||||||||||||||||
As previously | As revised | As previously | As revised | ||||||||||||||||||||||
reported | reported | ||||||||||||||||||||||||
Deferred tax assets | $ | 11,377 | $ | 10,662 | $ | 12,960 | $ | 12,518 | |||||||||||||||||
Total assets | $ | 257,262 | $ | 256,547 | $ | 221,378 | $ | 220,936 | |||||||||||||||||
Additional paid-in capital | $ | 209,987 | $ | 209,675 | $ | 190,039 | $ | 189,810 | |||||||||||||||||
Accumulated deficit | $ | (6,723 | ) | $ | (7,126 | ) | $ | (19,479 | ) | $ | (19,692 | ) | |||||||||||||
Total stockholders’ equity | $ | 203,582 | $ | 202,867 | $ | 170,922 | $ | 170,480 | |||||||||||||||||
Total liabilities and stockholders’ equity | $ | 257,262 | $ | 256,547 | $ | 221,378 | $ | 220,936 | |||||||||||||||||
Fair Value Hierarchy for Assets Measured at Fair Value on Recurring Basis | ' | ||||||||||||||||||||||||
The following tables present the Company’s fair value hierarchy for its assets which are measured at fair value on a recurring basis as of December 31, 2013 and 2012: | |||||||||||||||||||||||||
Fair Value Measurements at December 31, 2013 Using | |||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | ||||||||||||||||||||||
Financial Assets: | |||||||||||||||||||||||||
Money Market Instruments | $ | 23,444 | $ | — | $ | — | $ | 23,444 | |||||||||||||||||
U.S. Treasury Notes | 27,035 | — | — | 27,035 | |||||||||||||||||||||
Corporate and Agency Bonds | — | 12,688 | — | 12,688 | |||||||||||||||||||||
Commercial Paper | — | 1,000 | — | 1,000 | |||||||||||||||||||||
Total | $ | 50,479 | $ | 13,688 | $ | — | $ | 64,167 | |||||||||||||||||
Fair Value Measurements at December 31, 2012 Using | |||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | ||||||||||||||||||||||
Financial Assets: | |||||||||||||||||||||||||
Money Market Instruments | $ | 38,320 | $ | — | $ | — | $ | 38,320 | |||||||||||||||||
U.S. Treasury Notes | 10,158 | — | — | 10,158 | |||||||||||||||||||||
Corporate and Agency Bonds | — | 12,676 | — | 12,676 | |||||||||||||||||||||
Certificates of Deposit | — | 1,000 | — | 1,000 | |||||||||||||||||||||
Commercial Paper | — | 1,898 | — | 1,898 | |||||||||||||||||||||
Total | $ | 48,478 | $ | 15,574 | $ | — | $ | 64,052 | |||||||||||||||||
Quantitative Information Associated with Fair Value Measurement of Company's Level 3 Inputs | ' | ||||||||||||||||||||||||
The following table provides quantitative information associated with the fair value measurement of the Company’s Level 3 inputs as of the acquisition date of June 12, 2012: | |||||||||||||||||||||||||
Liability | Fair Value | Valuation Technique | Unobservable Inputs | Weighted | |||||||||||||||||||||
Average | |||||||||||||||||||||||||
Contingent consideration | $ | 12,152 | Income approach— discounted cash flow | Revenue earn-out — probability of low case (scenario) for total revenue. | 7.5 | % | |||||||||||||||||||
Revenue earn-out — probability of base case (scenario) for total revenue. | 30 | % | |||||||||||||||||||||||
Revenue earn-out — probability of target case (scenario) for total revenue. | 62.5 | % | |||||||||||||||||||||||
Discount rate for revenue earn-out | 5.3 | % | |||||||||||||||||||||||
Changes in Fair Value of Level 3 Contingent Consideration Liability | ' | ||||||||||||||||||||||||
Changes in the fair value of the Level 3 contingent consideration liability associated with the acquisition were as follows: | |||||||||||||||||||||||||
Contingent Consideration | |||||||||||||||||||||||||
Liability | |||||||||||||||||||||||||
Balance at December 31, 2011 | $ | — | |||||||||||||||||||||||
Acquisition of SinglePlatform | 12,152 | ||||||||||||||||||||||||
Change in fair value of contingent consideration liability, included in acquisition costs and other related charges in 2012 | (12,152 | ) | |||||||||||||||||||||||
Balance at December 31, 2012 and 2013 | $ | — | |||||||||||||||||||||||
Summary of Marketable Securities by Security Type | ' | ||||||||||||||||||||||||
At December 31, 2013, marketable securities by security type consisted of: | |||||||||||||||||||||||||
Amortized | Gross | Gross | Estimated | ||||||||||||||||||||||
Cost | Unrealized | Unrealized | Fair | ||||||||||||||||||||||
Gains | Losses | Value | |||||||||||||||||||||||
U.S. Treasury Notes | $ | 27,022 | 13 | $ | — | $ | 27,035 | ||||||||||||||||||
Corporate and Agency Bonds | 12,684 | 4 | — | 12,688 | |||||||||||||||||||||
Commercial Paper | 1,000 | — | — | 1,000 | |||||||||||||||||||||
Total | $ | 40,706 | $ | 17 | $ | — | $ | 40,723 | |||||||||||||||||
At December 31, 2013, marketable securities consisted of investments that mature within one year with the exception of government treasuries and corporate and agency bonds with a fair value of $23,318, which have maturities within two years. | |||||||||||||||||||||||||
At December 31, 2012, marketable securities by security type consisted of: | |||||||||||||||||||||||||
Amortized | Gross | Gross | Estimated | ||||||||||||||||||||||
Cost | Unrealized | Unrealized | Fair | ||||||||||||||||||||||
Gains | Losses | Value | |||||||||||||||||||||||
U.S. Treasury Notes | $ | 10,138 | 20 | $ | — | $ | 10,158 | ||||||||||||||||||
Corporate and Agency Bonds | 12,675 | 1 | — | 12,676 | |||||||||||||||||||||
Certificates of Deposit | 1,000 | — | — | 1,000 | |||||||||||||||||||||
Commercial Paper | 1,898 | — | — | 1,898 | |||||||||||||||||||||
Total | $ | 25,711 | $ | 21 | $ | — | $ | 25,732 | |||||||||||||||||
Estimated Useful Lives of Assets | ' | ||||||||||||||||||||||||
Estimated useful lives of assets are as follows: | |||||||||||||||||||||||||
Computer equipment | 3 years | ||||||||||||||||||||||||
Software | 3 years | ||||||||||||||||||||||||
Furniture and fixtures | 5 years | ||||||||||||||||||||||||
Leasehold improvements | Shorter of life of lease or | ||||||||||||||||||||||||
estimated useful life | |||||||||||||||||||||||||
Summary of Shares used in Computing Diluted Net Income Per Share | ' | ||||||||||||||||||||||||
The following is a summary of the shares used in computing diluted net income per share: | |||||||||||||||||||||||||
Years ended December 31, | |||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||
(in thousands) | |||||||||||||||||||||||||
Weighted average shares used in calculating basic net income per share | 30,730 | 30,386 | 29,566 | ||||||||||||||||||||||
Stock options | 524 | 581 | 1,075 | ||||||||||||||||||||||
Warrants | 1 | 1 | 1 | ||||||||||||||||||||||
Unvested restricted stock and restricted stock units | 101 | 35 | 29 | ||||||||||||||||||||||
Shares used in computing diluted net income per share | 31,356 | 31,003 | 30,671 | ||||||||||||||||||||||
Common Stock Equivalents Excluded from Computation of Diluted Net Income Per Share | ' | ||||||||||||||||||||||||
The Company excluded the following common stock equivalents from the computation of diluted net income per share because they had an anti-dilutive impact because the proceeds under the treasury stock method were in excess of the average fair market value for the period: | |||||||||||||||||||||||||
Years ended December 31, | |||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||
(in thousands) | |||||||||||||||||||||||||
Options to purchase common stock | 3,586 | 3,342 | 2,145 | ||||||||||||||||||||||
Unvested restricted stock and restricted stock units | 176 | 110 | 37 | ||||||||||||||||||||||
Total options exercisable into common stock, restricted stock units issuable in common stock and restricted stock | 3,762 | 3,452 | 2,182 | ||||||||||||||||||||||
Property_and_Equipment_Tables
Property and Equipment (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Property Plant And Equipment [Abstract] | ' | ||||||||
Summary of Property and Equipment | ' | ||||||||
Property and equipment consisted of the following: | |||||||||
December 31, | |||||||||
2013 | 2012 | ||||||||
Computer equipment | $ | 52,059 | $ | 44,794 | |||||
Software | 43,377 | 35,011 | |||||||
Furniture and fixtures | 8,599 | 7,499 | |||||||
Leasehold improvements | 11,657 | 9,015 | |||||||
Total property and equipment | 115,692 | 96,319 | |||||||
Less: Accumulated depreciation and amortization | 76,454 | 56,666 | |||||||
Property and equipment, net | $ | 39,238 | $ | 39,653 | |||||
Acquisitions_Tables
Acquisitions (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Bantam Networks [Member] | ' | ||||||||
Allocation of Purchase Price | ' | ||||||||
The Company allocated the purchase price as follows: | |||||||||
Developed technology | $ | 1,800 | |||||||
Goodwill | 13,200 | ||||||||
Total assets acquired | $ | 15,000 | |||||||
Pro Forma Results of Historical Condensed Consolidated Statements of Operations | ' | ||||||||
The following table presents the pro forma results of the historical consolidated statements of operations of the Company and Bantam Networks for the year ended December 31, 2011, giving effect to the merger as if it occurred on January 1, 2010: | |||||||||
Year ended | |||||||||
December 31, | |||||||||
2011 | |||||||||
Pro forma revenue | $ | 214,420 | |||||||
Pro forma net income | $ | 23,552 | |||||||
SinglePlatform [Member] | ' | ||||||||
Allocation of Purchase Price | ' | ||||||||
The following table summarizes the purchase price for SinglePlatform and the allocation of the purchase price: | |||||||||
Purchase consideration: | |||||||||
Total cash paid, net of cash acquired | $ | 62,546 | |||||||
Cash acquired | 311 | ||||||||
Fair value of contingent consideration | 12,152 | ||||||||
Total purchase price consideration | $ | 75,009 | |||||||
Assets acquired and liabilities assumed: | |||||||||
Cash | $ | 311 | |||||||
Accounts receivable | 48 | ||||||||
Prepaid expenses and other current assets | 60 | ||||||||
Property and equipment | 14 | ||||||||
Identifiable intangible assets | 4,760 | ||||||||
Other assets | 91 | ||||||||
Net deferred tax assets | 72 | ||||||||
Goodwill | 71,997 | ||||||||
Total assets acquired | 77,353 | ||||||||
Accounts payable, accrued expenses and other current liabilities | (1,734 | ) | |||||||
Deferred revenue | (610 | ) | |||||||
Total liabilities assumed | (2,344 | ) | |||||||
Total allocation of purchase price consideration | $ | 75,009 | |||||||
Pro Forma Results of Historical Condensed Consolidated Statements of Operations | ' | ||||||||
The following table presents the pro forma results of the historical consolidated statements of operations of the Company and SinglePlatform for the years ended December 31, 2012 and 2011, giving effect to the merger as if it occurred on January 1, 2011: | |||||||||
Years ended | |||||||||
December 31, | |||||||||
2012 | 2011 | ||||||||
Pro forma revenue | $ | 252,618 | $ | 214,839 | |||||
Pro forma net income | $ | 11,173 | $ | 21,039 | |||||
Estimated Fair Values and Useful Lives of Identifiable Intangible Assets Acquired | ' | ||||||||
The following table presents the estimated fair values and useful lives of identifiable intangible assets acquired: | |||||||||
Amount | Weighted Average Useful | ||||||||
Life | |||||||||
(in years) | |||||||||
Developed technology | $ | 850 | 3 | ||||||
Customer relationships | 2,630 | 3.75 | |||||||
Publisher relationships | 710 | 5 | |||||||
Trade name | 570 | 5 | |||||||
Total identifiable intangible assets | $ | 4,760 | 3.95 | ||||||
CardStar [Member] | ' | ||||||||
Allocation of Purchase Price | ' | ||||||||
The Company allocated the purchase price as follows: | |||||||||
Developed technology | $ | 624 | |||||||
Net deferred tax assets | 553 | ||||||||
Goodwill | 4,573 | ||||||||
Total assets acquired | $ | 5,750 | |||||||
Goodwill_and_Acquired_Intangib1
Goodwill and Acquired Intangible Assets (Tables) | 12 Months Ended | ||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||
Goodwill And Intangible Assets Disclosure [Abstract] | ' | ||||||||||||||||||||||||||||
Changes in Goodwill | ' | ||||||||||||||||||||||||||||
Changes in goodwill are as follows: | |||||||||||||||||||||||||||||
Balance, December 31, 2011 | 18,935 | ||||||||||||||||||||||||||||
Goodwill acquired during 2012 | 76,570 | ||||||||||||||||||||||||||||
Balance, December 31, 2012 and 2013 | $ | 95,505 | |||||||||||||||||||||||||||
Intangible Assets | ' | ||||||||||||||||||||||||||||
Intangible assets consist of the following: | |||||||||||||||||||||||||||||
Estimated | December 31, 2013 | December 31, 2012 | |||||||||||||||||||||||||||
Useful Life | Gross | Accumulated | Net Carrying | Gross | Accumulated | Net Carrying | |||||||||||||||||||||||
Carrying | Amortization | Amount | Carrying | Amortization | Amount | ||||||||||||||||||||||||
Amount | Amount | ||||||||||||||||||||||||||||
Developed technology | 3 years | $ | 4,357 | $ | 2,336 | $ | 2,021 | $ | 4,357 | $ | 1,222 | $ | 3,135 | ||||||||||||||||
Customer relationships | 3.75 years | 3,315 | 1,855 | 1,460 | 3,315 | 822 | 2,493 | ||||||||||||||||||||||
Publisher relationships | 5 years | 710 | 225 | 485 | 710 | 83 | 627 | ||||||||||||||||||||||
Trade name | 5 years | 570 | 181 | 389 | 570 | 67 | 503 | ||||||||||||||||||||||
$ | 8,952 | $ | 4,597 | $ | 4,355 | $ | 8,952 | $ | 2,194 | $ | 6,758 | ||||||||||||||||||
Future Estimated Amortization Expense for Assets Placed in Service | ' | ||||||||||||||||||||||||||||
Future estimated amortization expense for assets placed in service as of December 31, 2013 is as follows: | |||||||||||||||||||||||||||||
2014 | 2,196 | ||||||||||||||||||||||||||||
2015 | 1,583 | ||||||||||||||||||||||||||||
2016 | 470 | ||||||||||||||||||||||||||||
2017 | 106 | ||||||||||||||||||||||||||||
Total | $ | 4,355 | |||||||||||||||||||||||||||
Stockholders_Equity_and_StockB1
Stockholders' Equity and Stock-Based Awards (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' | ||||||||||||||||
Value of Stock Option Grants | ' | ||||||||||||||||
The relevant data used to determine the value of the stock option grants is as follows: | |||||||||||||||||
Year Ended | Year Ended | Year Ended | |||||||||||||||
December 31, | December 31, | December 31, | |||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||
Weighted average risk-free interest rate | 1.07 | % | 0.81 | % | 1.82 | % | |||||||||||
Expected term (in years) | 4.6 | 4.6 | 5.5 | ||||||||||||||
Weighted average expected volatility | 51.14 | % | 53.58 | % | 52.15 | % | |||||||||||
Expected dividends | 0 | % | 0 | % | 0 | % | |||||||||||
Summary of Stock Option Activity | ' | ||||||||||||||||
A summary of stock option activity is as follows: | |||||||||||||||||
Number of | Weighted | Weighted | Aggregate | ||||||||||||||
Options | Average | Average | Intrinsic | ||||||||||||||
Exercise | Remaining | Value | |||||||||||||||
Price | Contractual | ||||||||||||||||
Term | |||||||||||||||||
(In Years) | |||||||||||||||||
Balance at December 31, 2012 | 5,510,254 | $ | 19.84 | 6.35 | $ | 5,730 | |||||||||||
Granted | 875,975 | 16.64 | |||||||||||||||
Exercised | (671,596 | ) | 15.55 | ||||||||||||||
Forfeited | (700,650 | ) | 21.58 | ||||||||||||||
Balance at December 31, 2013 | 5,013,983 | $ | 19.61 | 5.57 | $ | 57,469 | |||||||||||
Vested and expected to vest at December 31, 2013 | 4,571,135 | $ | 19.61 | 5.49 | $ | 52,394 | |||||||||||
Exercisable at December 31, 2013 | 2,877,961 | $ | 19.15 | 5.27 | $ | 34,317 | |||||||||||
Restricted Stock and Restricted Stock Units Activity | ' | ||||||||||||||||
The table below summarizes activity relating to restricted stock for 2013: | |||||||||||||||||
Shares | Weighted | ||||||||||||||||
Average Grant | |||||||||||||||||
Date Fair Value | |||||||||||||||||
Unvested shares as of December 31, 2012 | 48,670 | $ | 21.17 | ||||||||||||||
Restricted shares vested | (15,784 | ) | 21.17 | ||||||||||||||
Restricted shares forfeited/cancelled | (32,886 | ) | 21.17 | ||||||||||||||
Unvested shares as of December 31, 2013 | — | $ | — | ||||||||||||||
Number of Shares | Weighted | ||||||||||||||||
Underlying | Average Grant | ||||||||||||||||
Restricted Units | Date Fair Value | ||||||||||||||||
Unvested as of December 31, 2012 | 885,448 | $ | 17.4 | ||||||||||||||
Restricted units granted | 371,415 | 22.63 | |||||||||||||||
Restricted units vested | (208,959 | ) | 21.37 | ||||||||||||||
Restricted units forfeited/cancelled | (145,365 | ) | 17.49 | ||||||||||||||
Unvested as of December 31, 2013 | 902,539 | $ | 18.58 | ||||||||||||||
Monte Carlo Assumptions | ' | ||||||||||||||||
The relevant assumptions used in the Monte Carlo simulation models include (but are not limited to) the following: | |||||||||||||||||
2013 | 2012 | ||||||||||||||||
Monte Carlo assumptions | |||||||||||||||||
Risk-free interest rate | 0.58% | 0.34% | |||||||||||||||
Volatility | 29.00% – 60.36% | 27.64% – 62.45% | |||||||||||||||
Recognized Stock-Based Compensation Expense | ' | ||||||||||||||||
The Company recognized stock-based compensation expense on all awards in cost of revenue and operating expense categories as follows: | |||||||||||||||||
Years Ended | |||||||||||||||||
December 31, | |||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||
Cost of revenue | $ | 1,802 | $ | 1,758 | $ | 1,542 | |||||||||||
Research and development | 3,359 | 3,733 | 3,221 | ||||||||||||||
Sales and marketing | 3,741 | 3,187 | 2,588 | ||||||||||||||
General and administrative | 5,829 | 5,596 | 4,357 | ||||||||||||||
$ | 14,731 | $ | 14,274 | $ | 11,708 | ||||||||||||
Income_Taxes_Tables
Income Taxes (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||||||
Schedule of Components of Income Tax Expense (Benefit) | ' | ||||||||||||
The components of income tax expense (benefit) consisted of the following: | |||||||||||||
Years Ended | |||||||||||||
December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
(in thousands) | |||||||||||||
Current income tax expense (benefit) | |||||||||||||
Federal | $ | (76 | ) | $ | 52 | $ | — | ||||||
State | 438 | 474 | 406 | ||||||||||
Total current income tax expense | 362 | 526 | 406 | ||||||||||
Deferred income tax expense (benefit) | |||||||||||||
Federal | 2,054 | 3,299 | (8,402 | ) | |||||||||
State | (1,160 | ) | (644 | ) | (5,211 | ) | |||||||
Total deferred income tax expense (benefit) | 894 | 2,655 | (13,613 | ) | |||||||||
Total income tax expense (benefit) | $ | 1,256 | $ | 3,181 | $ | (13,207 | ) | ||||||
Reconciliation of Company's Effective Tax Rate to Statutory Federal Income Tax Rate | ' | ||||||||||||
A reconciliation of the Company’s effective tax rate to the statutory federal income tax rate is as follows: | |||||||||||||
Years Ended | |||||||||||||
December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Statutory rate | 35 | % | 35 | % | 35 | % | |||||||
(Decrease) increase in deferred tax asset valuation allowance | — | — | (154 | ) | |||||||||
State taxes, net of federal benefit | 5 | 2 | 5 | ||||||||||
Impact of permanent differences | 3 | 3 | 2 | ||||||||||
Stock options | 18 | 11 | 15 | ||||||||||
Tax credits | (49 | ) | (6 | ) | (17 | ) | |||||||
Impact of change in effective state tax rates | — | — | (3 | ) | |||||||||
Provision to return adjustments | 4 | 2 | (8 | ) | |||||||||
Change in the fair value of contingent consideration liability | — | (27 | ) | — | |||||||||
Other | (1 | ) | (1 | ) | (4 | ) | |||||||
15 | % | 19 | % | (129 | )% | ||||||||
Net Deferred Tax Assets Related to Temporary Differences and Operating Loss Carry-Forwards | ' | ||||||||||||
The Company had net deferred tax assets related to temporary differences and operating loss carry-forwards as follows: | |||||||||||||
December 31, | |||||||||||||
2013 | 2012 | ||||||||||||
Deferred tax assets | |||||||||||||
Current: | |||||||||||||
Accrued expenses | $ | 803 | $ | 609 | |||||||||
Total current | 803 | 609 | |||||||||||
Noncurrent: | |||||||||||||
Net operating loss carry-forwards | 167 | 5,520 | |||||||||||
Research and development credit carry-forwards | 11,826 | 8,068 | |||||||||||
Stock options | 7,080 | 6,121 | |||||||||||
Other | 62 | 39 | |||||||||||
Total noncurrent | 19,135 | 19,748 | |||||||||||
Total deferred tax assets | 19,938 | 20,357 | |||||||||||
Deferred tax liabilities-non-current | |||||||||||||
Capitalized research and development | (7,868 | ) | (5,663 | ) | |||||||||
Fixed assets | (72 | ) | (1,304 | ) | |||||||||
Intangible assets | (1,621 | ) | (2,120 | ) | |||||||||
Total deferred tax liabilities — non-current | (9,561 | ) | (9,087 | ) | |||||||||
Net deferred tax assets | $ | 10,377 | $ | 11,270 | |||||||||
Accrued_Expenses_Tables
Accrued Expenses (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Payables And Accruals [Abstract] | ' | ||||||||
Components of Accrued Expenses | ' | ||||||||
December 31, | |||||||||
2013 | 2012 | ||||||||
Payroll and payroll related | $ | 4,106 | $ | 3,800 | |||||
Licensed software and maintenance | 1,197 | 1,627 | |||||||
Marketing programs | 575 | 1,197 | |||||||
Other accrued expenses | 5,025 | 4,179 | |||||||
$ | 10,903 | $ | 10,803 | ||||||
Commitments_and_Contingencies_
Commitments and Contingencies (Tables) | 12 Months Ended | ||||
Dec. 31, 2013 | |||||
Office Leases [Member] | ' | ||||
Future Minimum Lease Payments under Leases and Agreements | ' | ||||
As of December 31, 2013, future minimum lease payments under noncancelable office leases are as follows: | |||||
2014 | $ | 8,354 | |||
2015 | 9,238 | ||||
2016 | 10,194 | ||||
2017 | 10,153 | ||||
2018 | 9,747 | ||||
Thereafter | 30,954 | ||||
Total | $ | 78,640 | |||
Third-Party Hosting Agreements [Member] | ' | ||||
Future Minimum Lease Payments under Leases and Agreements | ' | ||||
As of December 31, 2013, future minimum payments under the agreements are as follows: | |||||
2014 | $ | 3,828 | |||
2015 | 3,938 | ||||
2016 | 4,049 | ||||
2017 | 775 | ||||
Total | $ | 12,590 | |||
Quarterly_Information_Unaudite1
Quarterly Information (Unaudited) (Tables) | 12 Months Ended | ||||||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | ' | ||||||||||||||||||||||||||||||||
Schedule of Quarterly Information | ' | ||||||||||||||||||||||||||||||||
Three Months Ended | |||||||||||||||||||||||||||||||||
Dec. 31, | Sept. 30, | June 30, | March 31, | Dec. 31, | Sept. 30, | June 30, | March 31, | ||||||||||||||||||||||||||
2013 | 2013 | 2013 | 2013 | 2012 | 2012 | 2012 | 2012 | ||||||||||||||||||||||||||
Statements of Operations Data: | |||||||||||||||||||||||||||||||||
Revenue | $ | 74,931 | $ | 72,039 | $ | 70,208 | $ | 68,205 | $ | 66,298 | $ | 63,846 | $ | 62,072 | $ | 59,938 | |||||||||||||||||
Gross profit | 54,279 | 51,561 | 49,630 | 48,297 | 47,506 | 45,124 | 43,638 | 42,339 | |||||||||||||||||||||||||
Income (loss) from operations(1) | 5,498 | 5,508 | (98 | ) | (2,613 | ) | 7,805 | 8,531 | (406 | ) | (414 | ) | |||||||||||||||||||||
Net income (loss)(1) | 4,516 | 3,320 | 32 | (654 | ) | 6,222 | 6,621 | (472 | ) | 195 | |||||||||||||||||||||||
Basic net income (loss) per share(1) | $ | 0.15 | $ | 0.11 | $ | 0 | $ | (0.02 | ) | $ | 0.2 | $ | 0.22 | $ | (0.02 | ) | $ | 0.01 | |||||||||||||||
Diluted net income (loss) per share(1) | $ | 0.14 | $ | 0.11 | $ | 0 | $ | (0.02 | ) | $ | 0.2 | $ | 0.21 | $ | (0.02 | ) | $ | 0.01 | |||||||||||||||
-1 | Comparability affected by a change (benefit) in the fair value of a contingent consideration liability of $6,094 and $6,058 in the third and fourth quarters of 2012, respectively. |
Summary_of_Significant_Account3
Summary of Significant Accounting Policies - Schedule of Effects of Prior Period Errors in Consolidated Financial Statements (Detail) (USD $) | 3 Months Ended | 12 Months Ended | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | ||||||||||||||||||||||||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Jun. 30, 2012 | Mar. 31, 2012 | Jun. 30, 2013 | Jun. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Jun. 30, 2012 | Mar. 31, 2012 | Jun. 30, 2013 | Jun. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 |
As Previously Reported [Member] | As Previously Reported [Member] | As Previously Reported [Member] | As Previously Reported [Member] | As Previously Reported [Member] | As Previously Reported [Member] | As Previously Reported [Member] | As Previously Reported [Member] | As Previously Reported [Member] | As Previously Reported [Member] | As Previously Reported [Member] | As Revised [Member] | As Revised [Member] | As Revised [Member] | As Revised [Member] | As Revised [Member] | As Revised [Member] | As Revised [Member] | As Revised [Member] | As Revised [Member] | As Revised [Member] | As Revised [Member] | |||||||||||||
General and administrative | ' | ' | ' | ' | ' | ' | ' | ' | $38,531 | $31,132 | $23,979 | ' | $9,136 | $10,048 | $9,894 | ' | ' | $19,942 | ' | $29,078 | ' | ' | ' | $9,312 | $9,925 | $9,840 | ' | ' | $19,765 | ' | $29,077 | ' | ' | ' |
Total operating expenses | ' | ' | ' | ' | ' | ' | ' | ' | 195,472 | 163,091 | 142,932 | ' | 45,877 | 49,851 | 50,964 | ' | ' | 100,815 | ' | 146,692 | ' | ' | ' | 46,053 | 49,728 | 50,910 | ' | ' | 100,638 | ' | 146,691 | ' | ' | ' |
Income tax (expense) benefit | ' | ' | ' | 1,324 | ' | ' | ' | ' | -1,256 | -3,181 | 13,207 | ' | -2,215 | 299 | 2,182 | -118 | 561 | 2,481 | 443 | 266 | -1,535 | -2,991 | 13,420 | -2,321 | 118 | 1,988 | -128 | 538 | 2,106 | 410 | -215 | -1,568 | -3,181 | 13,207 |
Net income (loss) | 4,516 | 3,320 | 32 | -654 | 6,222 | 6,621 | -472 | 195 | 7,214 | 12,566 | 23,466 | ' | 3,602 | 90 | -514 | -462 | 218 | -424 | -244 | 3,178 | 6,377 | 12,756 | 23,679 | 3,320 | 32 | -654 | -472 | 195 | -622 | -277 | 2,698 | 6,344 | 12,566 | 23,466 |
Net income (loss) per share - basic | $0.15 | $0.11 | $0 | ($0.02) | $0.20 | $0.22 | ($0.02) | $0.01 | $0.23 | $0.41 | $0.79 | ' | $0.12 | $0 | ($0.02) | ($0.02) | $0.01 | ($0.01) | ($0.01) | $0.10 | $0.21 | $0.42 | $0.80 | $0.11 | $0 | ($0.02) | ($0.02) | $0.01 | ($0.02) | ($0.01) | $0.09 | $0.21 | $0.41 | $0.79 |
Net income (loss) per share - diluted | $0.14 | $0.11 | $0 | ($0.02) | $0.20 | $0.21 | ($0.02) | $0.01 | $0.23 | $0.41 | $0.77 | ' | $0.11 | $0 | ($0.02) | ($0.02) | $0.01 | ($0.01) | ($0.01) | $0.10 | $0.21 | $0.41 | $0.77 | $0.11 | $0 | ($0.02) | ($0.02) | $0.01 | ($0.02) | ($0.01) | $0.09 | $0.20 | $0.41 | $0.77 |
Comprehensive income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 7,217 | 12,516 | 23,514 | ' | 3,612 | 87 | -515 | -485 | 198 | -428 | -287 | 3,184 | 6,338 | 12,706 | 23,727 | 3,330 | 29 | -655 | -495 | 175 | -626 | -320 | 2,704 | 6,305 | 12,516 | 23,514 |
Net income (loss) | 4,516 | 3,320 | 32 | -654 | 6,222 | 6,621 | -472 | 195 | 7,214 | 12,566 | 23,466 | ' | 3,602 | 90 | -514 | -462 | 218 | -424 | -244 | 3,178 | 6,377 | 12,756 | 23,679 | 3,320 | 32 | -654 | -472 | 195 | -622 | -277 | 2,698 | 6,344 | 12,566 | 23,466 |
Deferred taxes | ' | ' | ' | ' | ' | ' | ' | ' | 894 | 2,655 | -13,613 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,465 | -13,827 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,738 | -13,385 |
Taxes paid related to net share settlement of equity awards | ' | ' | ' | ' | ' | ' | ' | ' | -1,592 | -597 | -319 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -598 | -319 | ' | ' | ' | ' | ' | ' | ' | ' | ' | -597 | -319 |
Deferred tax assets | 9,574 | ' | ' | ' | 10,662 | ' | ' | ' | 9,574 | 10,662 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 11,377 | 12,960 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10,662 | 12,518 |
Total assets | 284,873 | ' | ' | ' | 256,547 | ' | ' | ' | 284,873 | 256,547 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 257,262 | 221,378 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 256,547 | 220,936 |
Additional paid-in capital | 229,457 | ' | ' | ' | 209,675 | ' | ' | ' | 229,457 | 209,675 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 209,987 | 190,039 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 209,675 | 189,810 |
Accumulated deficit | 88 | ' | ' | ' | -7,126 | ' | ' | ' | 88 | -7,126 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -6,723 | -19,479 | ' | ' | ' | ' | ' | ' | ' | ' | ' | -7,126 | -19,692 |
Total stockholders' equity | 229,871 | ' | ' | ' | 202,867 | ' | ' | ' | 229,871 | 202,867 | 170,480 | 126,122 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 203,582 | 170,922 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 202,867 | 170,480 |
Total liabilities and stockholders' equity | $284,873 | ' | ' | ' | $256,547 | ' | ' | ' | $284,873 | $256,547 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $257,262 | $221,378 | ' | ' | ' | ' | ' | ' | ' | ' | ' | $256,547 | $220,936 |
Summary_of_Significant_Account4
Summary of Significant Accounting Policies - Additional Information (Detail) (USD $) | 12 Months Ended | 12 Months Ended | |||||||||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Jun. 12, 2012 | Dec. 31, 2013 |
Sales [Member] | Sales [Member] | Sales [Member] | Maximum [Member] | Minimum [Member] | Minimum [Member] | Minimum [Member] | Government Treasuries, Corporate and Agency Bonds [Member] | Corporate and Agency Bonds [Member] | SinglePlatform [Member] | SinglePlatform [Member] | SinglePlatform [Member] | Software and Website Development Costs [Member] | |||||
Customer | Customer | Customer | Sales [Member] | Sales [Member] | Sales [Member] | Maximum [Member] | |||||||||||
Summary Of Significant Accounting Policies [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Transfers in and out of Level 1, Level 2 and Level 3 | ' | $0 | $0 | $0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fair value of the contingent consideration liability | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 12,152 | 12,152 | ' |
Interval period to measure revenue targets | '6 months | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash and cash equivalents and short term investments maturity period | '3 months | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Credit card receivables | 2,901 | 2,509 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Maturity period for marketable securities classified as available-for-sale | ' | ' | ' | ' | ' | ' | ' | '1 year | ' | ' | ' | '2 years | ' | ' | ' | ' | ' |
Fair value of agency bonds and treasury notes classified as available-for-sale securities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 23,318 | ' | ' | ' | ' |
Percentage of total revenue received | ' | ' | ' | ' | 84.00% | 85.00% | 88.00% | ' | 10.00% | 10.00% | 10.00% | ' | ' | ' | ' | ' | ' |
Number of customers accounted for more than specified percentage of revenue | ' | ' | ' | ' | 0 | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Estimated economic life of the developed technology related to acquisition of SinglePlatform | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '3 years |
Advertising expense | $39,796 | $35,350 | $36,437 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Minimum percentage of probability of realizing the benefit upon ultimate settlement | 50.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Summary_of_Significant_Account5
Summary of Significant Accounting Policies - Fair Value Hierarchy for Assets Measured at Fair Value on Recurring Basis (Detail) (Recurring [Member], USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Financial Assets: | ' | ' |
Total | $64,167 | $64,052 |
Money Market Instruments [Member] | ' | ' |
Financial Assets: | ' | ' |
Cash and cash equivalents fair value disclosure | 23,444 | 38,320 |
U.S. Treasury Notes [Member] | ' | ' |
Financial Assets: | ' | ' |
Available for sale securities fair value disclosure | 27,035 | 10,158 |
Corporate and Agency Bonds [Member] | ' | ' |
Financial Assets: | ' | ' |
Available for sale securities fair value disclosure | 12,688 | 12,676 |
Certificates of Deposit [Member] | ' | ' |
Financial Assets: | ' | ' |
Available for sale securities fair value disclosure | ' | 1,000 |
Commercial Paper [Member] | ' | ' |
Financial Assets: | ' | ' |
Available for sale securities fair value disclosure | 1,000 | 1,898 |
Level 1 [Member] | ' | ' |
Financial Assets: | ' | ' |
Total | 50,479 | 48,478 |
Level 1 [Member] | Money Market Instruments [Member] | ' | ' |
Financial Assets: | ' | ' |
Cash and cash equivalents fair value disclosure | 23,444 | 38,320 |
Level 1 [Member] | U.S. Treasury Notes [Member] | ' | ' |
Financial Assets: | ' | ' |
Available for sale securities fair value disclosure | 27,035 | 10,158 |
Level 2 [Member] | ' | ' |
Financial Assets: | ' | ' |
Total | 13,688 | 15,574 |
Level 2 [Member] | Corporate and Agency Bonds [Member] | ' | ' |
Financial Assets: | ' | ' |
Available for sale securities fair value disclosure | 12,688 | 12,676 |
Level 2 [Member] | Certificates of Deposit [Member] | ' | ' |
Financial Assets: | ' | ' |
Available for sale securities fair value disclosure | ' | 1,000 |
Level 2 [Member] | Commercial Paper [Member] | ' | ' |
Financial Assets: | ' | ' |
Available for sale securities fair value disclosure | 1,000 | 1,898 |
Level 3 [Member] | ' | ' |
Financial Assets: | ' | ' |
Total | ' | ' |
Level 3 [Member] | Money Market Instruments [Member] | ' | ' |
Financial Assets: | ' | ' |
Cash and cash equivalents fair value disclosure | ' | ' |
Level 3 [Member] | U.S. Treasury Notes [Member] | ' | ' |
Financial Assets: | ' | ' |
Available for sale securities fair value disclosure | ' | ' |
Level 3 [Member] | Corporate and Agency Bonds [Member] | ' | ' |
Financial Assets: | ' | ' |
Available for sale securities fair value disclosure | ' | ' |
Level 3 [Member] | Certificates of Deposit [Member] | ' | ' |
Financial Assets: | ' | ' |
Available for sale securities fair value disclosure | ' | ' |
Level 3 [Member] | Commercial Paper [Member] | ' | ' |
Financial Assets: | ' | ' |
Available for sale securities fair value disclosure | ' | ' |
Summary_of_Significant_Account6
Summary of Significant Accounting Policies - Quantitative Information Associated with Fair Value Measurement of Company's Level 3 Inputs (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Jun. 12, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | Level 3 [Member] | Level 3 [Member] | Level 3 [Member] | Level 3 [Member] | Level 3 [Member] | ||
Discounted Cash Flow [Member] | |||||||
Fair Value Inputs, Liabilities, Quantitative Information [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Contingent consideration | $0 | $0 | $12,152 | ' | ' | ' | ' |
Valuation Technique | ' | ' | ' | ' | ' | ' | 'Income approachb discounted cash flow |
Revenue earn-out-probability of low case (scenario) for total revenue | ' | ' | 7.50% | ' | ' | ' | ' |
Revenue earn-out-probability of base case (scenario) for total revenue | ' | ' | 30.00% | ' | ' | ' | ' |
Revenue earn-out-probability of target case (scenario) for total revenue | ' | ' | 62.50% | ' | ' | ' | ' |
Discount rate for revenue earn-out | ' | ' | 5.30% | ' | ' | ' | ' |
Summary_of_Significant_Account7
Summary of Significant Accounting Policies - Changes in Fair Value of Level 3 Contingent Consideration Liability (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Jun. 12, 2012 |
Business Acquisition, Contingent Consideration [Line Items] | ' | ' | ' |
Change in fair value of contingent consideration liability, included in acquisition costs and other related charges | ' | ($12,152) | ' |
Ending Balance | 0 | 0 | ' |
Level 3 [Member] | ' | ' | ' |
Business Acquisition, Contingent Consideration [Line Items] | ' | ' | ' |
Beginning balance | ' | ' | 12,152 |
Acquisition of SinglePlatform | ' | 12,152 | ' |
Change in fair value of contingent consideration liability, included in acquisition costs and other related charges | ' | -12,152 | ' |
Ending Balance | ' | ' | $12,152 |
Summary_of_Significant_Account8
Summary of Significant Accounting Policies - Summary of Marketable Securities by Security Type (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | $40,706 | $25,711 |
Gross Unrealized Gains | 17 | 21 |
Gross Unrealized Losses | ' | ' |
Estimated Fair Value | 40,723 | 25,732 |
U.S. Treasury Notes [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 27,022 | 10,138 |
Gross Unrealized Gains | 13 | 20 |
Gross Unrealized Losses | ' | ' |
Estimated Fair Value | 27,035 | 10,158 |
Corporate and Agency Bonds [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 12,684 | 12,675 |
Gross Unrealized Gains | 4 | 1 |
Gross Unrealized Losses | ' | ' |
Estimated Fair Value | 12,688 | 12,676 |
Certificates of Deposit [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | ' | 1,000 |
Gross Unrealized Losses | ' | ' |
Estimated Fair Value | ' | 1,000 |
Commercial Paper [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 1,000 | 1,898 |
Gross Unrealized Losses | ' | ' |
Estimated Fair Value | $1,000 | $1,898 |
Summary_of_Significant_Account9
Summary of Significant Accounting Policies - Estimated Useful Lives of Assets (Detail) | 12 Months Ended |
Dec. 31, 2013 | |
Computer Equipment [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Estimated useful lives of assets | '3 years |
Software [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Estimated useful lives of assets | '3 years |
Furniture and Fixtures [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Estimated useful lives of assets | '5 years |
Leasehold Improvements [Member] | ' |
Property, Plant and Equipment [Line Items] | ' |
Estimated useful lives of Leasehold improvements | 'Shorter of life of lease or estimated useful life |
Recovered_Sheet1
Summary of Significant Accounting Policies - Summary of Shares used in Computing Diluted Net Income Per Share (Detail) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items] | ' | ' | ' |
Weighted average shares used in calculating basic net income per share | 30,730 | 30,386 | 29,566 |
Shares used in computing diluted net income per share | 31,356 | 31,003 | 30,671 |
Stock Options [Member] | ' | ' | ' |
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items] | ' | ' | ' |
Stock options and unvested restricted stock | 524 | 581 | 1,075 |
Warrants [Member] | ' | ' | ' |
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items] | ' | ' | ' |
Warrants | 1 | 1 | 1 |
Unvested Restricted Stock and Restricted Stock Units [Member] | ' | ' | ' |
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items] | ' | ' | ' |
Stock options and unvested restricted stock | 101 | 35 | 29 |
Recovered_Sheet2
Summary of Significant Accounting Policies - Common Stock Equivalents Excluded from Computation of Diluted Net Income Per Share (Detail) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' |
Total options exercisable into common stock, restricted stock units issuable in common stock and restricted stock | 3,762 | 3,452 | 2,182 |
Stock Options [Member] | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' |
Total options exercisable into common stock, restricted stock units issuable in common stock and restricted stock | 3,586 | 3,342 | 2,145 |
Unvested Restricted Stock and Restricted Stock Units [Member] | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' |
Total options exercisable into common stock, restricted stock units issuable in common stock and restricted stock | 176 | 110 | 37 |
Property_and_Equipment_Summary
Property and Equipment - Summary of Property and Equipment (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Property Plant And Equipment [Abstract] | ' | ' |
Computer equipment | $52,059 | $44,794 |
Software | 43,377 | 35,011 |
Furniture and fixtures | 8,599 | 7,499 |
Leasehold improvements | 11,657 | 9,015 |
Total property and equipment | 115,692 | 96,319 |
Less: Accumulated depreciation and amortization | 76,454 | 56,666 |
Property and equipment, net | $39,238 | $39,653 |
Property_and_Equipment_Additio
Property and Equipment - Additional Information (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Property Plant And Equipment [Abstract] | ' | ' | ' |
Depreciation and amortization expense | $19,788 | $17,331 | $14,076 |
Disposed of and sold assets, gross | ' | ' | 5,019 |
Disposed of and sold assets, net book value | ' | ' | 160 |
Proceeds from assets disposed of and sold | ' | ' | 81 |
Loss recognized from disposal of assets | ' | ' | -79 |
Capitalized costs associated with the development of internal use software | 7,411 | 6,673 | 4,790 |
Amortization expense | 4,575 | 3,383 | 2,477 |
Capitalized software costs, net | $14,096 | $11,260 | ' |
Acquisitions_Additional_Inform
Acquisitions - Additional Information (Detail) (USD $) | 0 Months Ended | 3 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 3 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | |||||
In Thousands, unless otherwise specified | Feb. 15, 2011 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Feb. 15, 2011 | Dec. 31, 2013 | Dec. 31, 2011 | Jan. 13, 2012 | Dec. 31, 2013 | Jun. 12, 2012 | Dec. 31, 2012 | Dec. 31, 2013 | Jun. 12, 2012 |
Unit | Developed Technology [Member] | Bantam Networks [Member] | Bantam Networks [Member] | Coupon Redemption Technology [Member] | CardStar [Member] | CardStar [Member] | SinglePlatform [Member] | SinglePlatform [Member] | SinglePlatform [Member] | SinglePlatform [Member] | |||||
Maximum [Member] | |||||||||||||||
Business Acquisition [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash purchase price | ' | ' | ' | ' | ' | ' | $15,000 | ' | $600 | $5,750 | ' | $62,857 | ' | ' | ' |
Assets Acquisition Date | ' | ' | ' | ' | ' | ' | ' | 15-Feb-11 | ' | ' | ' | ' | ' | ' | ' |
Estimated economic life of the developed technology related to acquisition | ' | ' | ' | ' | ' | '3 years | ' | ' | ' | ' | '3 years | ' | ' | ' | ' |
Number of reporting units | 1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Estimated economic life | ' | '3 years | '3 years 11 months 12 days | ' | ' | '3 years | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Goodwill | ' | 18,935 | 95,505 | 95,505 | 18,935 | ' | ' | ' | 487 | 4,573 | ' | 71,997 | ' | ' | ' |
Identifiable intangible assets | ' | ' | ' | ' | ' | ' | ' | ' | 113 | 624 | ' | 4,760 | ' | ' | ' |
Total purchase price included in acquisition of Single Platform | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 75,009 | ' | ' | ' |
Fair value of contingent consideration payable | ' | ' | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | 12,152 | 12,152 | 0 | ' |
Amount payable upon achievement of certain revenue targets | ' | ' | 30,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 30,000 |
Intervals period to be measured revenue targets | ' | ' | '6 months | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
The estimated undiscounted range of outcomes for the contingent consideration, low | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' |
The estimated undiscounted range of outcomes for the contingent consideration, high | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 21,095 | ' | ' | ' |
Contingent consideration adjustment | ' | ' | ' | -12,152 | ' | ' | ' | ' | ' | ' | ' | ' | 12,152 | ' | ' |
Transactions costs related to acquisitions | ' | ' | $0 | $797 | $264 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Acquisitions_Allocation_of_Pur
Acquisitions - Allocation of Purchase Price (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Feb. 15, 2011 | Feb. 15, 2011 | Jun. 12, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Jan. 13, 2012 |
In Thousands, unless otherwise specified | Bantam Networks [Member] | Bantam Networks [Member] | SinglePlatform [Member] | SinglePlatform [Member] | SinglePlatform [Member] | CardStar [Member] | |||
Developed Technology [Member] | |||||||||
Assets acquired and liabilities assumed: | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash | ' | ' | ' | ' | ' | $311 | ' | ' | ' |
Accounts receivable | ' | ' | ' | ' | ' | 48 | ' | ' | ' |
Prepaid expenses and other current assets | ' | ' | ' | ' | ' | 60 | ' | ' | ' |
Property and equipment | ' | ' | ' | ' | ' | 14 | ' | ' | ' |
Developed technology | ' | ' | ' | ' | 1,800 | 4,760 | ' | ' | 624 |
Other assets | ' | ' | ' | ' | ' | 91 | ' | ' | ' |
Net deferred tax assets | ' | ' | ' | ' | ' | 72 | ' | ' | 553 |
Goodwill | 95,505 | 95,505 | 18,935 | 13,200 | ' | 71,997 | ' | ' | 4,573 |
Total assets acquired | ' | ' | ' | 15,000 | ' | 77,353 | ' | ' | 5,750 |
Accounts payable, accrued expenses and other current liabilities | ' | ' | ' | ' | ' | -1,734 | ' | ' | ' |
Deferred revenue | ' | ' | ' | ' | ' | -610 | ' | ' | ' |
Total liabilities assumed | ' | ' | ' | ' | ' | -2,344 | ' | ' | ' |
Purchase consideration: | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total cash paid, net of cash acquired | ' | ' | ' | ' | ' | 62,546 | ' | ' | ' |
Cash acquired | ' | ' | ' | ' | ' | 311 | ' | ' | ' |
Fair value of contingent consideration | 0 | 0 | ' | ' | ' | 12,152 | 0 | 12,152 | ' |
Total purchase price consideration | ' | ' | ' | ' | ' | 75,009 | ' | ' | ' |
Total allocation of purchase price consideration | ' | ' | ' | ' | ' | $75,009 | ' | ' | ' |
Acquisitions_Pro_Forma_Results
Acquisitions - Pro Forma Results of Historical Consolidated Statements of Operations (Detail) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2012 | Dec. 31, 2011 |
Bantam Networks [Member] | ' | ' |
Business Acquisition [Line Items] | ' | ' |
Pro forma revenue | ' | $214,420 |
Pro forma net income | ' | 23,552 |
SinglePlatform [Member] | ' | ' |
Business Acquisition [Line Items] | ' | ' |
Pro forma revenue | 252,618 | 214,839 |
Pro forma net income | $11,173 | $21,039 |
Acquisitions_Estimated_Fair_Va
Acquisitions - Estimated Fair Values and Useful Lives of Identifiable Intangible Assets Acquired (Detail) (USD $) | 3 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Dec. 31, 2011 | Dec. 31, 2013 |
Acquired Finite-Lived Intangible Assets [Line Items] | ' | ' |
Total identifiable intangible assets | ' | $4,760 |
Total identifiable intangible assets, Weighted Average Useful Life | '3 years | '3 years 11 months 12 days |
Developed Technology [Member] | ' | ' |
Acquired Finite-Lived Intangible Assets [Line Items] | ' | ' |
Total identifiable intangible assets | ' | 850 |
Total identifiable intangible assets, Weighted Average Useful Life | ' | '3 years |
Customer Relationships [Member] | ' | ' |
Acquired Finite-Lived Intangible Assets [Line Items] | ' | ' |
Total identifiable intangible assets | ' | 2,630 |
Total identifiable intangible assets, Weighted Average Useful Life | ' | '3 years 9 months |
Publisher Relationships [Member] | ' | ' |
Acquired Finite-Lived Intangible Assets [Line Items] | ' | ' |
Total identifiable intangible assets | ' | 710 |
Total identifiable intangible assets, Weighted Average Useful Life | ' | '5 years |
Trade Name [Member] | ' | ' |
Acquired Finite-Lived Intangible Assets [Line Items] | ' | ' |
Total identifiable intangible assets | ' | $570 |
Total identifiable intangible assets, Weighted Average Useful Life | ' | '5 years |
Goodwill_and_Acquired_Intangib2
Goodwill and Acquired Intangible Assets - Additional Information (Detail) (USD $) | 0 Months Ended | 12 Months Ended | ||
In Thousands, unless otherwise specified | Nov. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Goodwill And Intangible Assets Disclosure [Abstract] | ' | ' | ' | ' |
Carrying amount of goodwill | ' | $95,505 | $95,505 | $18,935 |
Impairments to goodwill | 0 | ' | ' | ' |
Amortization expense for intangible assets | ' | $2,403 | $1,672 | $333 |
Goodwill_and_Acquired_Intangib3
Goodwill and Acquired Intangible Assets - Changes in Goodwill (Detail) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Goodwill And Intangible Assets Disclosure [Abstract] | ' | ' |
Beginning balance | $95,505 | $18,935 |
Goodwill acquired | ' | 76,570 |
Ending balance | $95,505 | $95,505 |
Goodwill_and_Acquired_Intangib4
Goodwill and Acquired Intangible Assets - Intangible Assets (Detail) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Gross Carrying Amount | $8,952 | $8,952 |
Accumulated Amortization | 4,597 | 2,194 |
Net Carrying Amount | 4,355 | 6,758 |
Developed Technology [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Estimated Useful Life | '3 years | ' |
Gross Carrying Amount | 4,357 | 4,357 |
Accumulated Amortization | 2,336 | 1,222 |
Net Carrying Amount | 2,021 | 3,135 |
Customer Relationships [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Estimated Useful Life | '3 years 9 months | ' |
Gross Carrying Amount | 3,315 | 3,315 |
Accumulated Amortization | 1,855 | 822 |
Net Carrying Amount | 1,460 | 2,493 |
Publisher Relationships [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Estimated Useful Life | '5 years | ' |
Gross Carrying Amount | 710 | 710 |
Accumulated Amortization | 225 | 83 |
Net Carrying Amount | 485 | 627 |
Trade Name [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Estimated Useful Life | '5 years | ' |
Gross Carrying Amount | 570 | 570 |
Accumulated Amortization | 181 | 67 |
Net Carrying Amount | $389 | $503 |
Goodwill_and_Acquired_Intangib5
Goodwill and Acquired Intangible Assets - Future Estimated Amortization Expense for Assets Placed in Service (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Goodwill And Intangible Assets Disclosure [Abstract] | ' | ' |
2014 | $2,196 | ' |
2015 | 1,583 | ' |
2016 | 470 | ' |
2017 | 106 | ' |
Net Carrying Amount | $4,355 | $6,758 |
Stockholders_Equity_and_StockB2
Stockholders' Equity and Stock-Based Awards - Additional Information (Detail) (USD $) | 12 Months Ended | 6 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 1 Months Ended | 1 Months Ended | 1 Months Ended | 0 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Jun. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | 22-May-13 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Common Stock [Member] | Common Stock [Member] | Common Stock [Member] | Maximum [Member] | Restricted Stock Units [Member] | Restricted Stock Units [Member] | Restricted Stock Units [Member] | Restricted Stock [Member] | Restricted Stock [Member] | Employees [Member] | Directors [Member] | 2011 Stock Incentive Plan [Member] | 2012 Inducement Plan [Member] | Time-Based Vesting [Member] | Time-Based Vesting [Member] | Time-Based Vesting [Member] | Performance-Based Vesting [Member] | Performance-Based Vesting [Member] | Performance-Based Vesting [Member] | Performance-Based Vesting [Member] | Performance-Based Vesting [Member] | Performance-Based Vesting [Member] | Performance-Based Vesting [Member] | Market-Based Vesting Conditions [Member] | Market-Based Vesting Conditions [Member] | Market-Based Vesting Conditions [Member] | Market-Based Vesting Conditions [Member] | Market-Based Vesting Conditions [Member] | Market-Based Vesting Conditions [Member] | Market-Based Vesting Conditions [Member] | Market-Based Vesting Conditions [Member] | Market-Based Vesting Conditions [Member] | Market-Based Vesting Conditions [Member] | Market-Based Vesting Conditions [Member] | 2012 Revenue RSUs [Member] | 2013 Revenue RSUs [Member] | 2012 and 2013 TSR Units [Member] | 2007 Employee Stock Purchase Plan [Member] | 2007 Employee Stock Purchase Plan [Member] | 2007 Employee Stock Purchase Plan [Member] | 2007 Employee Stock Purchase Plan [Member] | ||||
Restricted Stock Units [Member] | Restricted Stock Units [Member] | Restricted Stock Units [Member] | Restricted Stock Units [Member] | Restricted Stock Units [Member] | Restricted Stock Units [Member] | Restricted Stock Units [Member] | Restricted Stock Units [Member] | Restricted Stock Units [Member] | Restricted Stock [Member] | Minimum [Member] | Minimum [Member] | Maximum [Member] | Maximum [Member] | Restricted Stock Units [Member] | Restricted Stock [Member] | Restricted Stock [Member] | Restricted Stock [Member] | Restricted Stock [Member] | Restricted Stock [Member] | Restricted Stock [Member] | Restricted Stock [Member] | Restricted Stock [Member] | Restricted Stock Units [Member] | |||||||||||||||||||||
Minimum [Member] | Maximum [Member] | Minimum [Member] | Minimum [Member] | Maximum [Member] | Maximum [Member] | Minimum [Member] | Minimum [Member] | Maximum [Member] | Maximum [Member] | |||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Preferred stock, shares authorized | 5,000,000 | 5,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Preferred stock, par value | $0.01 | $0.01 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock, shares authorized | 100,000,000 | 100,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock, par value | $0.01 | $0.01 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock voting rights | 'One | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock repurchase program authorized amount of shares repurchased | ' | ' | ' | ' | ' | ' | $20,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock repurchase program number of shares authorized to be repurchased | 285,900 | ' | ' | 285,900 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock repurchase program average purchase price per share | $18.77 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total cost of stock repurchase | 5,366 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Maximum term of incentive stock options, non-statutory stock options, restricted stock, restricted stock units and other stock-based awards | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '7 years | '7 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock shares reserved for issuance | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,200,000 | 257,780 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Maximum percentage of fair market value of per unit purchase price | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares of common stock available for issuance | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,166,039 | 76,117 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 381,135 | ' | ' |
Minimum percentage of fair market value of per unit purchase price | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock options, granted | 875,975 | 1,549,932 | 1,787,525 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of restrictions lapses on stock options after one year and quarterly thereafter | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 25.00% | 33.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Period for lapses of stock options thereafter | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '36 months | '24 months | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Market value of common stock | ' | ' | ' | $31.07 | $14.21 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Weighted average grant-date fair value of stock options granted | $7.14 | $9.55 | $12.08 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total intrinsic value of stock options exercised | 6,168 | 6,530 | 10,014 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of restricted stock units | ' | ' | ' | ' | ' | ' | ' | 371,415 | 718,930 | 181,677 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 102,803 | 152,302 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Weighted average grant-date fair value | ' | ' | ' | ' | ' | ' | ' | $22.63 | $16.73 | $25.86 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of share of common stock for each restricted stock unit | 1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Aggregate intrinsic value of restricted stock units vested | 3,774 | 1,485 | 794 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of restricted stock units will be vest | ' | ' | ' | ' | ' | ' | ' | 902,539 | 885,448 | ' | ' | 48,670 | ' | ' | ' | ' | 522,046 | ' | ' | 251,845 | ' | ' | ' | ' | ' | 27,200 | ' | ' | ' | ' | 128,648 | ' | ' | ' | ' | ' | ' | 224,645 | 224,645 | 128,648 | ' | ' | ' | ' |
Number of restricted stock units that ultimately vest | ' | ' | ' | ' | ' | ' | ' | 598,497 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Intrinsic value of restricted stock units that ultimately vest | ' | ' | ' | ' | ' | ' | ' | 18,475 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Restricted stock units, weighted average remaining contractual term | ' | ' | ' | ' | ' | ' | ' | '1 year 5 months 5 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Vesting period of restricted awards | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '2 years | '4 years | ' | ' | '3 years | '2 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenue run rate in restricted stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of target shares allowed to vest | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50.00% | 25.00% | 125.00% | 100.00% | ' | 50.00% | 50.00% | 125.00% | 125.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of target shares vesting | 4,571,135 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of target shares allowed to vest | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 52,498 | 95,188 | 26,249 | 47,594 | 65,622 | 118,982 | ' | ' | ' | ' | ' | ' | ' |
Grant period under risk free interest rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '3 years | '3 years | ' | ' | ' | ' | ' | ' | ' |
Employee Stock Purchase Plan offering period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '6 months | ' | ' |
Percentage of closing market price of common stock equals to per share purchase price for offerings | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 85.00% | ' | ' |
Additional Shares of common stock available for issuance | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 350,000 | ' | ' | ' |
Common stock were purchased for total proceeds to company under Employee Stock Purchase Plan | ' | ' | ' | 79,456 | 78,081 | 41,677 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 79,456 | 78,081 | 41,677 |
Proceeds to the company as common stock were purchased under Employee Stock Purchase Plan | 1,089 | 1,053 | 859 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,089 | 1,053 | 859 |
Unrecognized compensation expense associated with outstanding stock options, restricted stock and restricted stock units | 24,438 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unrecognized compensation expense associated with outstanding stock options, restricted stock and restricted stock units, weighted-average period | '2 years 6 months 15 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Recognized income tax benefits related to stock-based compensation expense | 5,507 | 5,354 | 4,386 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Capitalized stock-based compensation expense | $482 | $785 | $670 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stockholders_Equity_and_StockB3
Stockholders' Equity and Stock-Based Awards - Value of Stock Option Grants (Detail) (Stock Options [Member]) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Stock Options [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Weighted average risk-free interest rate | 1.07% | 0.81% | 1.82% |
Expected term (in years) | '4 years 7 months 6 days | '4 years 7 months 6 days | '5 years 6 months |
Weighted average expected volatility | 51.14% | 53.58% | 52.15% |
Expected dividends | 0.00% | 0.00% | 0.00% |
Stockholders_Equity_and_StockB4
Stockholders' Equity and Stock-Based Awards - Summary of Stock Option Activity (Detail) (USD $) | 12 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' | ' | ' |
Number of Options, Beginning Balance | 5,510,254 | ' | ' |
Number of Options, Granted | 875,975 | 1,549,932 | 1,787,525 |
Number of Options, Exercised | -671,596 | ' | ' |
Number of Options, Forfeited | -700,650 | ' | ' |
Number of Options, Ending Balance | 5,013,983 | 5,510,254 | ' |
Number of Options, Vested and expected to vest | 4,571,135 | ' | ' |
Number of Options, Exercisable | 2,877,961 | ' | ' |
Weighted Average Exercise Price, Beginning Balance | $19.84 | ' | ' |
Weighted Average Exercise Price, Granted | $16.64 | ' | ' |
Weighted Average Exercise Price, Exercised | $15.55 | ' | ' |
Weighted Average Exercise Price, Forfeited | $21.58 | ' | ' |
Weighted Average Exercise Price, Ending Balance | $19.61 | $19.84 | ' |
Weighted Average Exercise Price, Vested and expected to vest | $19.61 | ' | ' |
Weighted Average Exercise Price, Exercisable | $19.15 | ' | ' |
Weighted Average Remaining Contractual Term, Balance | '5 years 6 months 26 days | '6 years 4 months 6 days | ' |
Weighted Average Remaining Contractual Term, Vested and expected to vest | '5 years 5 months 27 days | ' | ' |
Weighted Average Remaining Contractual Term, Exercisable | '5 years 3 months 7 days | ' | ' |
Aggregate Intrinsic Value, Beginning Balance | $5,730 | ' | ' |
Aggregate Intrinsic Value, Ending Balance | 57,469 | 5,730 | ' |
Aggregate Intrinsic Value, Vested and expected to vest | 52,394 | ' | ' |
Aggregate Intrinsic Value, Exercisable | $34,317 | ' | ' |
Stockholders_Equity_and_StockB5
Stockholders' Equity and Stock-Based Awards - Restricted Stock and Restricted Stock Units Activity (Detail) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Restricted Stock [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Unvested shares, Beginning Balance | 48,670 | ' | ' |
Restricted units vested | -15,784 | ' | ' |
Restricted units forfeited/cancelled | -32,886 | ' | ' |
Unvested shares, Ending Balance | ' | ' | ' |
Weighted Average Grant Date Fair Value, Unvested Beginning Balance | $21.17 | ' | ' |
Weighted Average Grant Date Fair Value, Restricted units vested | $21.17 | ' | ' |
Weighted Average Grant Date Fair Value, Restricted units forfeited/cancelled | $21.17 | ' | ' |
Weighted Average Grant Date Fair Value, Unvested Ending Balance | ' | ' | ' |
Restricted Stock Units [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Unvested shares, Beginning Balance | 885,448 | ' | ' |
Restricted units granted | 371,415 | 718,930 | 181,677 |
Restricted units vested | -208,959 | ' | ' |
Restricted units forfeited/cancelled | -145,365 | ' | ' |
Unvested shares, Ending Balance | 902,539 | 885,448 | ' |
Weighted Average Grant Date Fair Value, Unvested Beginning Balance | $17.40 | ' | ' |
Weighted Average Grant Date Fair Value, Restricted units granted | $22.63 | $16.73 | $25.86 |
Weighted Average Grant Date Fair Value, Restricted units vested | $21.37 | ' | ' |
Weighted Average Grant Date Fair Value, Restricted units forfeited/cancelled | $17.49 | ' | ' |
Weighted Average Grant Date Fair Value, Unvested Ending Balance | $18.58 | $17.40 | ' |
Stockholders_Equity_and_StockB6
Stockholders' Equity and Stock-Based Awards - Monte Carlo Assumptions (Detail) (Monte Carlo Simulation [Member]) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Risk-free interest rate | 0.58% | 0.34% |
Minimum [Member] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Volatility | 29.00% | 27.64% |
Maximum [Member] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Volatility | 60.36% | 62.45% |
Stockholders_Equity_and_StockB7
Stockholders' Equity and Stock-Based Awards - Recognized Stock-Based Compensation Expense (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' |
Stock-based compensation expense | $14,731 | $14,274 | $11,708 |
Cost of Revenue [Member] | ' | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' |
Stock-based compensation expense | 1,802 | 1,758 | 1,542 |
Research and Development [Member] | ' | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' |
Stock-based compensation expense | 3,359 | 3,733 | 3,221 |
Sales and Marketing [Member] | ' | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' |
Stock-based compensation expense | 3,741 | 3,187 | 2,588 |
General and Administrative [Member] | ' | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' |
Stock-based compensation expense | $5,829 | $5,596 | $4,357 |
Income_Taxes_Schedule_of_Compo
Income Taxes - Schedule of Components of Income Tax Expense (Benefit) (Detail) (USD $) | 3 Months Ended | 12 Months Ended | ||
In Thousands, unless otherwise specified | Mar. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Current income tax expense (benefit) | ' | ' | ' | ' |
Federal | ' | ($76) | $52 | ' |
State | ' | 438 | 474 | 406 |
Total current income tax expense | ' | 362 | 526 | 406 |
Deferred income tax expense (benefit) | ' | ' | ' | ' |
Federal | ' | 2,054 | 3,299 | -8,402 |
State | ' | -1,160 | -644 | -5,211 |
Total deferred income tax expense (benefit) | ' | 894 | 2,655 | -13,613 |
Total income tax expense (benefit) | ($1,324) | $1,256 | $3,181 | ($13,207) |
Income_Taxes_Reconciliation_of
Income Taxes - Reconciliation of Company's Effective Tax Rate to Statutory Federal Income Tax Rate (Detail) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Income Tax Disclosure [Abstract] | ' | ' | ' |
Statutory rate | 35.00% | 35.00% | 35.00% |
Decrease in deferred tax asset valuation allowance | ' | ' | -154.00% |
State taxes, net of federal benefit | 5.00% | 2.00% | 5.00% |
Impact of permanent differences | 3.00% | 3.00% | 2.00% |
Stock options | 18.00% | 11.00% | 15.00% |
Tax credits | -49.00% | -6.00% | -17.00% |
Impact of change in effective state tax rates | ' | ' | -3.00% |
Provision to return adjustments | 4.00% | 2.00% | -8.00% |
Change in the fair value of contingent consideration liability | ' | -27.00% | ' |
Other | -1.00% | -1.00% | -4.00% |
Statutory federal income tax rate, total | 15.00% | 19.00% | -129.00% |
Income_Taxes_Net_Deferred_Tax_
Income Taxes - Net Deferred Tax Assets Related to Temporary Differences and Operating Loss Carry-Forwards (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Current: | ' | ' |
Accrued expenses | $803 | $609 |
Total current | 803 | 609 |
Noncurrent: | ' | ' |
Net operating loss carry-forwards | 167 | 5,520 |
Research and development credit carry-forwards | 11,826 | 8,068 |
Stock options | 7,080 | 6,121 |
Other | 62 | 39 |
Total noncurrent | 19,135 | 19,748 |
Total deferred tax assets | 19,938 | 20,357 |
Deferred tax liabilities-non-current | ' | ' |
Capitalized research and development | -7,868 | -5,663 |
Fixed assets | -72 | -1,304 |
Intangible assets | -1,621 | -2,120 |
Total deferred tax liabilities - non-current | -9,561 | -9,087 |
Net deferred tax assets | $10,377 | $11,270 |
IncomeTaxes_Additional_Informa
IncomeTaxes - Additional Information (Detail) (USD $) | 3 Months Ended | 12 Months Ended | ||
In Thousands, unless otherwise specified | Mar. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Income Taxes [Line Items] | ' | ' | ' | ' |
Changes in valuation allowance | ' | $0 | $0 | $15,828 |
Income tax (expense) benefit | 1,324 | -1,256 | -3,181 | 13,207 |
Unrecognized tax benefits | ' | 0 | 0 | 0 |
Unrecognized tax benefits, accrued interest or tax penalties | ' | 0 | 0 | ' |
Federal [Member] | ' | ' | ' | ' |
Income Taxes [Line Items] | ' | ' | ' | ' |
Net operating loss carry-forwards | ' | 33,500 | ' | ' |
Operating loss carry-forwards, expiration dates | ' | 'Through 2033 | ' | ' |
Federal [Member] | Research and Development [Member] | ' | ' | ' | ' |
Income Taxes [Line Items] | ' | ' | ' | ' |
Tax credit carry-forward amount | ' | 7,475 | ' | ' |
Tax credit carry-forward, expiration dates | ' | 'Through 2033 | ' | ' |
Federal [Member] | Stock Options [Member] | ' | ' | ' | ' |
Income Taxes [Line Items] | ' | ' | ' | ' |
Net operating loss carry-forwards relating to stock options | ' | 30,982 | ' | ' |
State [Member] | ' | ' | ' | ' |
Income Taxes [Line Items] | ' | ' | ' | ' |
Net operating loss carry-forwards | ' | 849 | ' | ' |
Operating loss carry-forwards, expiration dates | ' | 'Through 2018 | ' | ' |
State [Member] | Research and Development [Member] | ' | ' | ' | ' |
Income Taxes [Line Items] | ' | ' | ' | ' |
Tax credit carry-forward amount | ' | 5,524 | ' | ' |
Tax credit carry-forward, expiration dates | ' | 'Through 2028 | ' | ' |
State [Member] | Investment Credit [Member] | ' | ' | ' | ' |
Income Taxes [Line Items] | ' | ' | ' | ' |
Tax credit carry-forward amount | ' | 1,169 | ' | ' |
Tax credit carry-forward, expiration dates | ' | 'Through 2015 | ' | ' |
State [Member] | Stock Options [Member] | ' | ' | ' | ' |
Income Taxes [Line Items] | ' | ' | ' | ' |
Net operating loss carry-forwards relating to stock options | ' | $849 | ' | ' |
Accrued_Expenses_Components_of
Accrued Expenses - Components of Accrued Expenses (Detail) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Payables And Accruals [Abstract] | ' | ' |
Payroll and payroll related | $4,106 | $3,800 |
Licensed software and maintenance | 1,197 | 1,627 |
Marketing programs | 575 | 1,197 |
Other accrued expenses | 5,025 | 4,179 |
Accrued expenses, total | $10,903 | $10,803 |
401k_Savings_Plan_Additional_I
401(k) Savings Plan - Additional Information (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Schedule of Defined Contribution Pension and Other Postretirement Plans Disclosure [Line Items] | ' | ' | ' |
Contribution by employer to 401 (k) Savings Plan | $2,937 | $2,457 | $1,955 |
Employee's Contributions up to 3% [Member] | ' | ' | ' |
Schedule of Defined Contribution Pension and Other Postretirement Plans Disclosure [Line Items] | ' | ' | ' |
Employer matching contribution, percent | 100.00% | 100.00% | 100.00% |
Employee's Contributions Between 3% and 5% [Member] | ' | ' | ' |
Schedule of Defined Contribution Pension and Other Postretirement Plans Disclosure [Line Items] | ' | ' | ' |
Employer matching contribution, percent | 50.00% | 50.00% | 50.00% |
100% of Matching Contribution [Member] | ' | ' | ' |
Schedule of Defined Contribution Pension and Other Postretirement Plans Disclosure [Line Items] | ' | ' | ' |
Percentage of the employee's compensation | 3.00% | 3.00% | 3.00% |
50% of Matching Contribution [Member] | ' | ' | ' |
Schedule of Defined Contribution Pension and Other Postretirement Plans Disclosure [Line Items] | ' | ' | ' |
Percentage of the employee's compensation | 5.00% | 5.00% | 5.00% |
50% of Matching Contribution [Member] | Minimum [Member] | ' | ' | ' |
Schedule of Defined Contribution Pension and Other Postretirement Plans Disclosure [Line Items] | ' | ' | ' |
Percentage of the employee's compensation | 3.00% | 3.00% | 3.00% |
Commitments_and_Contingencies_1
Commitments and Contingencies - Additional Information (Detail) (USD $) | 0 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | |||||||||||||||
In Thousands, unless otherwise specified | Aug. 07, 2012 | Dec. 31, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 |
Plaintiff | Maximum [Member] | Headquarters Space [Member] | Office Leases [Member] | Office Leases [Member] | Office Leases [Member] | Office Leases [Member] | Office Leases [Member] | Office Leases [Member] | Office Leases [Member] | Third-Party Hosting Agreements [Member] | Third-Party Hosting Agreements [Member] | Third-Party Hosting Agreements [Member] | Third-Party Hosting Agreements [Member] | Third-Party Hosting Agreements [Member] | Sales and Support Office [Member] | General Office [Member] | ||||
OptionPlan | Accrued Expenses [Member] | Accrued Expenses [Member] | Other Long-Term Liabilities [Member] | Other Long-Term Liabilities [Member] | Vendor | Other Long-Term Liabilities [Member] | Other Long-Term Liabilities [Member] | OptionPlan | ||||||||||||
Operating Leased Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Lease expiration date | ' | ' | ' | ' | ' | 22-Sep-22 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Time period for extension option | ' | ' | ' | ' | ' | '10 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '3 years | ' |
Number of extension option | ' | ' | ' | ' | ' | 1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3 | ' |
Expiration of lease agreement | ' | 'Various dates through mid-2017 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'April 2019 | 'Various dates through 2018 |
Prepaid rent | ' | ' | ' | ' | ' | ' | $634 | $1,725 | ' | ' | ' | ' | ' | $861 | $1,120 | ' | ' | ' | ' | ' |
Prepaid expenses and other current assets | ' | 9,175 | ' | 6,513 | ' | ' | 128 | 302 | ' | ' | ' | ' | ' | 360 | 259 | ' | ' | ' | ' | ' |
Other assets | ' | ' | ' | ' | ' | ' | 506 | 1,423 | ' | ' | ' | ' | ' | 501 | 861 | ' | ' | ' | ' | ' |
Accrued rent balance | ' | ' | ' | ' | ' | ' | 2,239 | 2,154 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accrued rent balance included in accrued expenses | ' | ' | ' | ' | ' | ' | ' | ' | ' | 351 | 282 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accrued rent balance included in other long-term liabilities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,888 | 1,872 | ' | ' | ' | 173 | 138 | ' | ' |
Rent expense | ' | ' | ' | ' | ' | ' | 8,149 | 7,102 | 6,163 | ' | ' | ' | ' | 4,038 | 4,073 | 3,573 | ' | ' | ' | ' |
Number of vendors provide for related services | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2 | ' | ' | ' | ' | ' | ' |
Amount of contractual commitments with various vendors | ' | 16,540 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Letter of credit for the benefit of the landlord | ' | ' | ' | 750 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash balance to secure the letter of credit | ' | 1,300 | ' | 750 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Increase in letter of credit | ' | 1,300 | ' | ' | 1,875 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amount payable upon achievement of certain revenue targets | ' | 30,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accrual for contingency | ' | 0 | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of Plaintiffs | 2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Litigation settlement, aggregate payment | ' | 800 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loss contingency accrual | ' | ' | $820 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Commitments_and_Contingencies_2
Commitments and Contingencies - Future Minimum Lease Payments under Leases and Agreements (Detail) (USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Office Leases [Member] | ' |
Operating Leased Assets [Line Items] | ' |
2014 | $8,354 |
2015 | 9,238 |
2016 | 10,194 |
2017 | 10,153 |
2018 | 9,747 |
Thereafter | 30,954 |
Total | 78,640 |
Third-Party Hosting Agreements [Member] | ' |
Operating Leased Assets [Line Items] | ' |
2014 | 3,828 |
2015 | 3,938 |
2016 | 4,049 |
2017 | 775 |
Total | $12,590 |
Quarterly_Information_Unaudite2
Quarterly Information (Unaudited) - Schedule of Quarterly Information (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Statements of Operations Data: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenue | $74,931 | $72,039 | $70,208 | $68,205 | $66,298 | $63,846 | $62,072 | $59,938 | $285,383 | $252,154 | $214,420 |
Gross profit | 54,279 | 51,561 | 49,630 | 48,297 | 47,506 | 45,124 | 43,638 | 42,339 | 203,767 | 178,607 | 152,929 |
Income (loss) from operations | 5,498 | 5,508 | -98 | -2,613 | 7,805 | 8,531 | -406 | -414 | 8,295 | 15,516 | 9,997 |
Net income (loss) | $4,516 | $3,320 | $32 | ($654) | $6,222 | $6,621 | ($472) | $195 | $7,214 | $12,566 | $23,466 |
Basic net income (loss) per share | $0.15 | $0.11 | $0 | ($0.02) | $0.20 | $0.22 | ($0.02) | $0.01 | $0.23 | $0.41 | $0.79 |
Diluted net income (loss) per share | $0.14 | $0.11 | $0 | ($0.02) | $0.20 | $0.21 | ($0.02) | $0.01 | $0.23 | $0.41 | $0.77 |
Quarterly_Information_Unaudite3
Quarterly Information (Unaudited) - Schedule of Quarterly Information (Parenthetical) (Detail) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2012 | Sep. 30, 2012 |
Quarterly Financial Information Disclosure [Abstract] | ' | ' |
Contingent consideration | $6,058 | $6,094 |