Document_and_Entity_Informatio
Document and Entity Information | 3 Months Ended | |
Mar. 31, 2015 | 8-May-15 | |
Document And Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | FALSE | |
Document Period End Date | 31-Mar-15 | |
Document Fiscal Year Focus | 2015 | |
Document Fiscal Period Focus | Q1 | |
Trading Symbol | SYNC | |
Entity Registrant Name | Synacor, Inc. | |
Entity Central Index Key | 1408278 | |
Current Fiscal Year End Date | -19 | |
Entity Filer Category | Non-accelerated Filer | |
Entity Common Stock, Shares Outstanding | 27,728,568 |
Condensed_Consolidated_Balance
Condensed Consolidated Balance Sheets - Unaudited (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
CURRENT ASSETS: | ||
Cash and cash equivalents | $26,750 | $25,600 |
Accounts receivable, net | 19,276 | 20,479 |
Preferred expenses and other current assets | 2,315 | 2,292 |
Total current assets | 48,341 | 48,371 |
PROPERTY AND EQUIPMENT, NET | 14,528 | 15,128 |
OTHER LONG-TERM ASSETS | 74 | 101 |
GOODWILL | 1,565 | 1,565 |
INVESTMENTS | 1,041 | 1,073 |
TOTAL ASSETS | 65,549 | 66,238 |
CURRENT LIABILITIES: | ||
Accounts payable | 13,490 | 12,545 |
Accrued expenses and other current liabilities | 7,150 | 8,403 |
Current portion of capital lease obligations | 1,101 | 1,150 |
Total current liabilities | 21,741 | 22,098 |
LONG-TERM PORTION OF CAPITAL LEASE OBLIGATION | 1,436 | 1,383 |
OTHER LONG-TERM LIABILITIES | 227 | 275 |
TOTAL LIABILITIES | 23,404 | 23,756 |
Commitments and Contingencies (Note 6) | ||
STOCKHOLDERS' EQUITY: | ||
Common stock, $0.01 par value - 100,000,000 authorized, 27,684,598 issued and 27,365,098 shares outstanding at December 31, 2014 and 28,011,390 issued and 27,432,463 outstanding at March 31, 2015 | 279 | 279 |
Preferred stock, $0.01 par value-10,000,000 shares authorized, no shares issued and outstanding at December 31, 2014 and March 31, 2015 | ||
Treasury stock, at cost, 553,144 shares at December 31, 2014 and 578,927 shares at March 31, 2015 | -1,197 | -1,142 |
Additional paid-in capital | 106,761 | 105,961 |
Accumulated deficit | -63,709 | -62,636 |
Accumulated other comprehensive income | 11 | 20 |
Total stockholders' equity | 42,145 | 42,482 |
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $65,549 | $66,238 |
Condensed_Consolidated_Balance1
Condensed Consolidated Balance Sheets - Unaudited (Parenthetical) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
Statement of Financial Position [Abstract] | ||
Common stock, par value | $0.01 | $0.01 |
Common stock, shares authorized | 100,000,000 | 100,000,000 |
Common stock, shares issued | 28,011,390 | 27,944,853 |
Common stock, shares outstanding | 27,432,463 | 27,391,709 |
Preferred stock, par value | $0.01 | $0.01 |
Preferred stock, shares authorized | 10,000,000 | 10,000,000 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Treasury stock, shares | 578,927 | 553,144 |
Condensed_Consolidated_Stateme
Condensed Consolidated Statements of Operations - Unaudited (USD $) | 3 Months Ended | |
In Thousands, except Share data, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Income Statement [Abstract] | ||
REVENUE | $26,730 | $25,248 |
COSTS AND OPERATING EXPENSES: | ||
Cost of revenue (exclusive of depreciation shown separately below) | 14,403 | 13,876 |
Technology & Development (exclusive of depreciation shown separately below) | 4,866 | 7,492 |
Sales and marketing | 3,562 | 2,137 |
General and administrative (exclusive of depreciation shown separately below) | 3,374 | 3,099 |
Depreciation | 1,496 | 1,058 |
Total costs and operating expenses | 27,701 | 27,662 |
LOSS FROM OPERATIONS | -971 | -2,414 |
OTHER INCOME (EXPENSE) | -16 | 8 |
INTEREST EXPENSE | -50 | -88 |
LOSS BEFORE INCOME TAXES AND EQUITY INTEREST | -1,037 | -2,494 |
(BENEFIT) PROVISION FOR INCOME TAXES | 4 | -684 |
LOSS ON EQUITY INTEREST | -32 | -246 |
NET LOSS | ($1,073) | ($2,056) |
NET LOSS PER SHARE: | ||
Basic | ($0.04) | ($0.07) |
Diluted | ($0.04) | ($0.07) |
WEIGHTED AVERAGE SHARES USED TO COMPUTE NET LOSS PER SHARE: | ||
Basic | 27,407,147 | 27,434,374 |
Diluted | 27,407,147 | 27,434,374 |
Condensed_Consolidated_Stateme1
Condensed Consolidated Statements of Comprehensive Loss - Unaudited (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Statement of Comprehensive Income [Abstract] | ||
Net income (loss) | ($1,073) | ($2,056) |
Other comprehensive income: | ||
Change in foreign currency translation adjustment | 9 | 13 |
Comprehensive income (loss) | ($1,064) | ($2,043) |
Condensed_Consolidated_Stateme2
Condensed Consolidated Statements of Cash Flows - Unaudited (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
CASH FLOWS FROM OPERATING ACTIVITIES: | ||
Net loss | ($1,073) | ($2,056) |
Adjustments to reconcile net loss to net cash provided (used) in operating activities: | ||
Depreciation | 1,496 | 1,058 |
Stock-based compensation expense | 742 | 681 |
Provision for deferred income taxes | -709 | |
Loss in equity investment | 32 | 246 |
Change in assets and liabilities net of effect of acquisition: | ||
Accounts receivable, net | 1,203 | -25 |
Prepaid expenses and other current assets | -23 | -577 |
Other long-term assets | 27 | 101 |
Accounts payable | 995 | 1,292 |
Accrued expenses and other current liabilities | -1,186 | -979 |
Other long-term liabilities | -48 | -198 |
Net cash provided (used) in operating activities | 2,165 | -1,166 |
CASH FLOWS FROM INVESTING ACTIVITIES: | ||
Purchases of property and equipment | -600 | -1,519 |
Investment in equity interest | -245 | |
Net cash used in investing activities | -600 | -1,764 |
CASH FLOWS FROM FINANCING ACTIVITIES: | ||
Repayments on capital lease obligations | -392 | -485 |
Proceeds from exercise of common stock options | 5 | 26 |
Purchase of treasury stock | -56 | |
Net cash used in financing activities | -387 | -515 |
Effect of exchange rate changes on cash and cash equivalents | -28 | 8 |
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | 1,150 | -3,437 |
CASH AND CASH EQUIVALENTS - Beginning of Period | 25,600 | 36,397 |
CASH AND CASH EQUIVALENTS - End of Period | 26,750 | 32,960 |
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION: | ||
Cash paid for interest | 50 | 98 |
Cash paid for income taxes | 30 | |
SUPPLEMENTAL DISCLOSURES OF NON-CASH INVESTING AND FINANCING TRANSACTIONS: | ||
Property, equipment and service contracts financed under capital lease obligations | 396 | 413 |
Accrued property and equipment expenditures | 149 | |
Treasury stock received to satisfy minimum tax withholding liabilities | $71 |
The_Company_and_Summary_of_Sig
The Company and Summary of Significant Accounting Policies | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Accounting Policies [Abstract] | |||||||||
The Company and Summary of Significant Accounting Policies | 1. The Company and Summary of Significant Accounting Policies | ||||||||
Synacor, Inc., together with its consolidated subsidiaries, Synacor Canada, Inc. and NTV Internet Holdings, LLC, (collectively, the “Company” or “Synacor”), is the trusted technology development, multiplatform services and revenue partner for video, Internet and communications providers, and device manufacturers. Synacor delivers modern, multiscreen experiences and advertising to consumers that require scale, actionable data and sophisticated implementation. | |||||||||
Basis of Presentation — The interim unaudited condensed consolidated financial statements and accompanying notes have been prepared in accordance with United States generally accepted accounting principles (“U.S. GAAP”) and include the accounts of the Company and its wholly-owned subsidiaries. Investments in entities in which the Company can exercise significant influence, but does not own a majority equity interest or otherwise have the power to control, are accounted for using the equity method and are included as investments in equity interest on the condensed consolidated balance sheets. All intercompany balances and transactions have been eliminated in consolidation. In the opinion of the Company’s management, the interim unaudited condensed consolidated financial statements include all adjustments, which include only normal recurring adjustments, necessary for the fair presentation of the Company’s financial position for the periods presented. These interim unaudited condensed consolidated financial statements are not necessarily indicative of the results expected for the full fiscal year or for any subsequent period and should be read in conjunction with the audited consolidated financial statements and related notes included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2014 (as amended). | |||||||||
Accounting Estimates — The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates, judgments and assumptions that affect the amounts reported and disclosed in the financial statements and the accompanying notes. The Company bases its estimates on historical experience and on various other assumptions that are believed to be reasonable, the results of which form the basis for making judgments about the carrying values of assets and liabilities. Such estimates primarily relate to unsettled transactions and events as of the date of the financial statements. Accordingly, actual results may differ from estimated amounts. | |||||||||
Concentrations of Risk — As of December 31, 2014 and March 31, 2015, and for the three months ended March 31, 2014 and 2015, the Company had concentrations equal to or exceeding 10% of the Company’s accounts receivable and revenue as follows: | |||||||||
Accounts Receivable | |||||||||
December 31, | March 31, | ||||||||
2014 | 2015 | ||||||||
23% | 21% | ||||||||
Digital Advertising Partner | 11% | 12% | |||||||
Portal Customer (1) | 12% | N/A | |||||||
Note: | |||||||||
-1 | As of March 31, 2015, accounts receivable for Portal Customer was less than 10%. | ||||||||
Revenue | |||||||||
Three Months Ended | |||||||||
March 31, | |||||||||
2014 | 2015 | ||||||||
51% | 36% | ||||||||
For the three months ended March 31, 2014 and 2015, the following customers received revenue-share payments equal to or exceeding 10% of the Company’s cost of revenue. The costs represent revenue share paid to customers for their supply of Internet traffic on the Company’s start experiences: | |||||||||
Cost of Revenue | |||||||||
Three Months Ended | |||||||||
March 31, | |||||||||
2014 | 2015 | ||||||||
Customer A | 23% | 24 | % | ||||||
Customer B | 15% | 10 | % | ||||||
Customer C | 11% | 10 | % | ||||||
Customer D (1) | 10% | N/A | |||||||
Note: | |||||||||
-1 | For the three months ended March 31, 2015, the cost of revenue-share payments received by Customer D was less than 10%. | ||||||||
Rights Plan — On July 14, 2014 the board of directors declared a dividend of one preferred share purchase right (a “Right”) for each outstanding share of the Company’s common stock and adopted a stockholder rights plan (the “Rights Plan”). The Rights were issued July 14, 2014 to the stockholders of record at the close of business on that date. Each Right allows its holder to purchase from the Company one one-hundredth of a share of Series A Junior Participating Preferred Stock (a “ Series A Junior Preferred Share”) for $10.00 per share (the “Exercise Price”), if the Rights become exercisable. This portion of a Series A Junior Preferred Share will give the stockholder approximately the same dividend, voting, and liquidation rights as would one share of common stock. Prior to exercise, the Right does not give its holder any dividend, voting, or liquidation rights. On July 14, 2014, in conjunction with the adoption of the Rights Plan, the Company designated 2,000,000 shares of its Preferred Stock as Series A Junior Participating Preferred Stock. | |||||||||
The Rights will not be exercisable until 10 days after the public announcement that a person or group has become an “Acquiring Person” by obtaining beneficial ownership of 10% or more of the Company’s outstanding common stock (the “Distribution Date”). If a person or group becomes an Acquiring Person, each Right will entitle its holder (other than such Acquiring Person) to purchase for $10.00 per share, a number of shares of the Company’s common stock having a market value of twice such price based on the market price of the common stock prior to such acquisition. Additionally, if the Company is acquired in a merger or similar transaction after the Distribution Date, each Right will entitle its holder (other than such Acquiring Person) to purchase for $10.00 per share, a number of shares of the acquiring corporation with a market value of $20.00 per share based on the market price of the acquiring corporation’s stock, prior to such merger. In addition, at any time after a person or group becomes an Acquiring Person, but before such Acquiring Person or group owns 50% or more of the Company’s common stock, the board of directors may exchange one share of the Company’s common stock for each outstanding Right (other than Rights owned by such Acquiring Person, which would have become void). An Acquiring Person will not be entitled to exercise the Rights. | |||||||||
On April 20, 2015, The Company’s stockholders ratified the Rights Plan. It will expire on July 14, 2017. |
Investments_and_Fair_Value_Mea
Investments and Fair Value Measurements | 3 Months Ended |
Mar. 31, 2015 | |
Fair Value Disclosures [Abstract] | |
Investments and Fair Value Measurements | 2. Investments and Fair Value Measurements |
In July 2013, the Company made a $1.0 million investment (in the form of a convertible promissory) in a privately held Delaware corporation called Blazer and Flip Flops, Inc., or B&FF (doing business as The Experience Engine). In March 2015, the note was converted into preferred stock of B&FF and is accounted for as a cost method investment. B&FF is a professional services company whose principals have experience integrating its customers’ systems with their consumers’ devices, including smartphones and tablets. | |
The investment in B&FF is considered an available-for-sale security and is reported on the Company’s condensed consolidated balance sheets in investments. | |
The provisions of the FASB ASC 820, Fair Value Measurements and Disclosures, establish a framework for measuring the fair value in accordance with U.S. GAAP and establish a hierarchy that categorizes and prioritizes the sources to be used to estimate fair value as follows: | |
Level 1—Level 1 inputs are defined as observable inputs such as quoted prices in active markets. | |
Level 2—Level 2 inputs include quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the asset or liability (interest rates, yield curves, etc.), and inputs that are derived principally from or corroborated by observable market data by correlation or other means (market corroborated inputs). | |
Level 3—Level 3 inputs are unobservable inputs that reflect the Company’s determination of assumptions that market participants would use in pricing the asset or liability. These inputs are developed based on the best information available, including the Company’s own data. | |
The Company classifies its investment in B&FF within Level 3 because it is valued using unobservable inputs. As of March 31, 2015, there have been no other than temporary impairments. | |
Property_and_EquipmentNet
Property and Equipment-Net | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Property, Plant and Equipment [Abstract] | |||||||||
Property and Equipment-Net | 3. Property and Equipment—Net | ||||||||
Property and equipment, net consisted of the following: | |||||||||
December 31, | March 31, | ||||||||
2014 | 2015 | ||||||||
(in thousands) | |||||||||
Computer equipment (1) | $ | 21,194 | $ | 21,615 | |||||
Computer software | 10,741 | 11,419 | |||||||
Furniture and fixtures | 1,847 | 1,835 | |||||||
Leasehold improvements | 1,389 | 1,362 | |||||||
Work in process (primarily software development costs) | 1,203 | 999 | |||||||
Other | 173 | 173 | |||||||
36,547 | 37,403 | ||||||||
Less accumulated depreciation (2) | (21,419 | ) | (22,875 | ) | |||||
Total property and equipment—net | $ | 15,128 | $ | 14,528 | |||||
Notes: | |||||||||
-1 | Includes equipment under capital lease obligations of $4.8 million and $3.1 million as of December 31, 2014 and March 31, 2015, respectively. | ||||||||
-2 | Includes $2.7 million and $1.1 million of accumulated depreciation of equipment under capital leases as of December 31, 2014 and March 31, 2015, respectively. |
Accrued_Expenses_and_Other_Cur
Accrued Expenses and Other Current Liabilities | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Payables and Accruals [Abstract] | |||||||||
Accrued Expenses and Other Current Liabilities | 4. Accrued Expenses and Other Current Liabilities | ||||||||
Accrued expenses and other current liabilities consisted of the following: | |||||||||
December 31, | March 31, | ||||||||
2014 | 2015 | ||||||||
(in thousands) | |||||||||
Accrued compensation | $ | 4,066 | $ | 3,671 | |||||
Accrued content fees | 1,745 | 1,300 | |||||||
Accrued business acquisition consideration | 495 | 495 | |||||||
Unearned revenue on contracts | 642 | 410 | |||||||
Other | 1,455 | 1,274 | |||||||
Total | $ | 8,403 | $ | 7,150 | |||||
Information_About_Segment_and_
Information About Segment and Geographic Areas | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Segment Reporting [Abstract] | |||||||||
Information About Segment and Geographic Areas | 5. Information About Segment and Geographic Areas | ||||||||
Operating segments are components of the Company in which separate financial information is available that is evaluated regularly by the Company’s chief operating decision maker in deciding how to allocate resources and in assessing performance. The chief operating decision maker for the Company is the Chief Executive Officer. The Chief Executive Officer reviews financial information presented on a total Company basis, accompanied by information about revenue by major service line for purposes of allocating resources and evaluating financial performance. Profitability measures by service line are not routinely prepared or used. The Company has one business activity and there are no segment managers who are held accountable for operations, operating results or plans for levels or components below the Company level. Accordingly, the Company has determined that it has a single reporting segment and operating unit structure. | |||||||||
The following table sets forth revenue and long-lived tangible assets by geographic area: | |||||||||
Three Months Ended | |||||||||
March 31, | |||||||||
2014 | 2015 | ||||||||
(in thousands) | |||||||||
Revenue | |||||||||
United States | $ | 25,078 | $ | 26,530 | |||||
International | 170 | 200 | |||||||
Total revenue | $ | 25,248 | $ | 26,730 | |||||
December 31, | March 31, | ||||||||
2014 | 2015 | ||||||||
(in thousands) | |||||||||
Long-lived tangible assets | |||||||||
United States | $ | 14,573 | $ | 13,578 | |||||
Canada | 502 | 796 | |||||||
International | 53 | 154 | |||||||
Total long-lived tangible assets | $ | 15,128 | $ | 14,528 |
Commitments_and_Contingencies
Commitments and Contingencies | 3 Months Ended | ||||
Mar. 31, 2015 | |||||
Commitments and Contingencies Disclosure [Abstract] | |||||
Commitments and Contingencies | 6. Commitments and Contingencies | ||||
Contract Commitments — The Company is obligated to make payments under various contracts with vendors and other business partners, principally for revenue-share and content arrangements. Contract commitments as of March 31, 2015 are summarized as follows: | |||||
Year ending December 31: | (in thousands) | ||||
2015 (remaining nine months) | $ | 2,056 | |||
2016 | 1,300 | ||||
2017 | 580 | ||||
2018 | 110 | ||||
2019 | — | ||||
Due after 5 years | — | ||||
Total contract commitments | $ | 4,046 | |||
Teknision Acquisition — A remaining payment of $0.5 million for the purchase price to acquire the assets of Teknision, Inc. is due in May 2015 and recorded in accrued expenses and other current liabilities on the condensed consolidated balance sheet. | |||||
Litigation — From time to time, the Company is a party to legal actions. In the opinion of management, the outcome of these matters is not expected to have a material impact on the consolidated financial statements of the Company. |
Equity
Equity | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Equity [Abstract] | |||||||||
Equity | 7. Equity | ||||||||
Common Stock — Effective on February 15, 2012, the Company’s board of directors and stockholders approved the Fifth Amended and Restated Certificate of Incorporation. The total number of common shares that the Company is authorized to issue is 100,000,000 with a par value of $0.01 per share. | |||||||||
Preferred Stock — Effective on February 15, 2012, the Company’s board of directors and stockholders approved the Fifth Amended and Restated Certificate of Incorporation. The total number of preferred shares that the Company is authorized to issue is 10,000,000 with a par value of $0.01 per share, 2,000,000 of which have been designated as Series A Junior Participating Preferred Stock pursuant to the Rights Plan. None have been issued to date. | |||||||||
Stock Repurchases — In February 2014 the board of directors approved a Stock Repurchase Program, which authorizes a repurchase of up to $5.0 million worth of the Company’s outstanding common stock. The Stock Repurchase Program has no expiration date, and may be suspended or discontinued at any time without notice. The Company repurchased all shares with cash resources. | |||||||||
The following table sets forth the shares of common stock repurchased through the program in the following periods: | |||||||||
Three Months Ended | |||||||||
March 31, | |||||||||
2014 | 2015 | ||||||||
Shares of common stock repurchased | 22,000 | — | |||||||
Value of common stock repurchased (in thousands) | $ | 56 | $ | — | |||||
Withhold to Cover — During the three months ended March 31, 2015, certain employees, in lieu of paying withholding taxes on the vesting of certain shares of restricted stock awards, authorized the withholding of 25,783 shares of the Company’s common stock to satisfy their minimum statutory tax withholding requirements related to such vesting. These shares were recorded as treasury stock using the cost method at the per share closing price on the date of vesting. No shares of the Company’s common stock were withheld to cover minimum statutory tax withholding requirements during the three months ended March 31, 2014. |
Stockbased_Compensation
Stock-based Compensation | 3 Months Ended | ||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |||||||||||||||||
Stock-based Compensation | 8. Stock-based Compensation | ||||||||||||||||
The fair value of each stock option was determined on the date of grant using the Black-Scholes option pricing model, and stock-based compensation is recorded over the requisite service period. The Company recorded $0.7 million of stock-based compensation expense for the three months ended March 31, 2014 and 2015, respectively. No income tax deduction is allowed for incentive stock options (“ISOs”). Accordingly, no deferred income tax asset is recorded for the potential tax deduction related to these options. Expense related to stock option grants of non-qualified stock options (“NSOs”) result in a temporary difference, which gives rise to a deferred tax asset. | |||||||||||||||||
Total stock-based compensation expense included in the accompanying condensed consolidated statements of operations for the periods presented, is as follows : | |||||||||||||||||
Three Months Ended | |||||||||||||||||
March 31, | |||||||||||||||||
2014 | 2015 | ||||||||||||||||
(in thousands) | |||||||||||||||||
Technology and development | $ | 327 | $ | 217 | |||||||||||||
Sales and marketing | 108 | 241 | |||||||||||||||
General and administrative | 246 | 284 | |||||||||||||||
Total stock-based compensation expense | $ | 681 | $ | 742 | |||||||||||||
Stock Option Activity — A summary of the stock option activity for the three months ended March 31, 2015 is presented below: | |||||||||||||||||
Number of | Weighted | Aggregate | Weighted | ||||||||||||||
Stock | Average | Intrinsic Value | Average | ||||||||||||||
Options | Exercise | (in thousands) | Remaining | ||||||||||||||
Price | Contractual | ||||||||||||||||
Term (in | |||||||||||||||||
years) | |||||||||||||||||
Outstanding—January 1, 2015 | 6,755,790 | $ | 2.86 | ||||||||||||||
Granted (1) | 1,091,200 | $ | 2.15 | ||||||||||||||
Exercised | (2,260 | ) | $ | 2.38 | |||||||||||||
Forfeited (1) | (257,989 | ) | $ | 2.54 | |||||||||||||
Outstanding—March 31, 2015 | 7,586,741 | $ | 2.77 | $ | 569 | 7.55 | |||||||||||
Vested and expected to vest—March 31, 2015 | 7,093,519 | $ | 2.77 | $ | 541 | 7.42 | |||||||||||
Vested and exercisable—March 31, 2015 | 2,996,890 | $ | 3.21 | $ | 369 | 5.06 | |||||||||||
Note: | |||||||||||||||||
-1 | The number of options granted and forfeited includes options cancelled and replaced in conjunction with the modifications described below. | ||||||||||||||||
Aggregate intrinsic value represents the difference between the Company’s closing stock price of its common stock and the exercise price of outstanding, in-the-money options. The Company’s closing stock price as reported on the NASDAQ as of March 31, 2015 was $2.27 per share. The total intrinsic value of options exercised for the three months ended March 31, 2015 was minor. The weighted average fair value of options issued, excluding the options issued as replacements in the modifications below, during the three months ended March 31, 2015 amounted to $1.20. | |||||||||||||||||
As of March 31, 2015, the unrecognized compensation cost related to non-vested options granted, for which vesting is probable, under the plan was approximately $6.3 million. This cost is expected to be recognized over a weighted-average period of 2.9 years. The total fair value of shares vested was $0.2 million for the three months ended March 31, 2015. |
Net_Income_Loss_Per_Common_Sha
Net Income (Loss) Per Common Share Data | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Earnings Per Share [Abstract] | |||||||||
Net Income (Loss) Per Common Share Data | 9. Net Income (Loss) Per Common Share Data | ||||||||
Basic net income (loss) per share is computed using the weighted-average number of common shares outstanding during the period. Diluted net income (loss) per share is computed using the weighted-average number of common shares and, if dilutive, potential common shares outstanding during the period. The Company’s potential common shares consist of the incremental common shares issuable upon the exercise of stock options, and to a lesser extent, shares issuable upon the release of RSUs. The dilutive effect of these potential common shares is reflected in diluted earnings per share by application of the treasury stock method. | |||||||||
The following table presents the calculation of basic and diluted net loss per share for the three months ended March 31, 2014 and 2015: | |||||||||
Three Months Ended, | |||||||||
March 31, | |||||||||
2014 | 2015 | ||||||||
(in thousands, except share | |||||||||
and per share data) | |||||||||
Basic net loss per share: | |||||||||
Numerator: | |||||||||
Net loss | $ | (2,056 | ) | $ | (1,073 | ) | |||
Denominator: | |||||||||
Weighted-average common shares outstanding | 27,434,374 | 27,407,147 | |||||||
Basic net loss per share | $ | (0.07 | ) | $ | (0.04 | ) | |||
Diluted net loss per share: | |||||||||
Numerator: | |||||||||
Net loss | $ | (2,056 | ) | $ | (1,073 | ) | |||
Denominator: | |||||||||
Number of shares used in basic calculation | 27,434,374 | 27,407,147 | |||||||
Add weighted-average effect of dilutive securities: | |||||||||
None | — | — | |||||||
Number of shares used in diluted calculation | 27,434,374 | 27,407,147 | |||||||
Diluted net loss per share | $ | (0.07 | ) | $ | (0.04 | ) | |||
The following equivalent shares were excluded from the calculation of diluted net loss per share because their effect would have been anti-dilutive for the periods presented: | |||||||||
Three Months Ended, | |||||||||
March 31, | |||||||||
2014 | 2015 | ||||||||
Antidilutive equity awards: | |||||||||
Stock options and RSUs | 5,670,083 | 8,316,190 | |||||||
The_Company_and_Summary_of_Sig1
The Company and Summary of Significant Accounting Policies (Policies) | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Accounting Policies [Abstract] | |||||||||
Basis of Presentation | Basis of Presentation — The interim unaudited condensed consolidated financial statements and accompanying notes have been prepared in accordance with United States generally accepted accounting principles (“U.S. GAAP”) and include the accounts of the Company and its wholly-owned subsidiaries. Investments in entities in which the Company can exercise significant influence, but does not own a majority equity interest or otherwise have the power to control, are accounted for using the equity method and are included as investments in equity interest on the condensed consolidated balance sheets. All intercompany balances and transactions have been eliminated in consolidation. In the opinion of the Company’s management, the interim unaudited condensed consolidated financial statements include all adjustments, which include only normal recurring adjustments, necessary for the fair presentation of the Company’s financial position for the periods presented. These interim unaudited condensed consolidated financial statements are not necessarily indicative of the results expected for the full fiscal year or for any subsequent period and should be read in conjunction with the audited consolidated financial statements and related notes included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2014 (as amended). | ||||||||
Accounting Estimates | Accounting Estimates — The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates, judgments and assumptions that affect the amounts reported and disclosed in the financial statements and the accompanying notes. The Company bases its estimates on historical experience and on various other assumptions that are believed to be reasonable, the results of which form the basis for making judgments about the carrying values of assets and liabilities. Such estimates primarily relate to unsettled transactions and events as of the date of the financial statements. Accordingly, actual results may differ from estimated amounts. | ||||||||
Concentrations of Risk | Concentrations of Risk — As of December 31, 2014 and March 31, 2015, and for the three months ended March 31, 2014 and 2015, the Company had concentrations equal to or exceeding 10% of the Company’s accounts receivable and revenue as follows: | ||||||||
Accounts Receivable | |||||||||
December 31, | March 31, | ||||||||
2014 | 2015 | ||||||||
23% | 21% | ||||||||
Digital Advertising Partner | 11% | 12% | |||||||
Portal Customer (1) | 12% | N/A | |||||||
Note: | |||||||||
-1 | As of March 31, 2015, accounts receivable for Portal Customer was less than 10%. | ||||||||
Revenue | |||||||||
Three Months Ended | |||||||||
March 31, | |||||||||
2014 | 2015 | ||||||||
51% | 36% | ||||||||
For the three months ended March 31, 2014 and 2015, the following customers received revenue-share payments equal to or exceeding 10% of the Company’s cost of revenue. The costs represent revenue share paid to customers for their supply of Internet traffic on the Company’s start experiences: | |||||||||
Cost of Revenue | |||||||||
Three Months Ended | |||||||||
March 31, | |||||||||
2014 | 2015 | ||||||||
Customer A | 23% | 24 | % | ||||||
Customer B | 15% | 10 | % | ||||||
Customer C | 11% | 10 | % | ||||||
Customer D (1) | 10% | N/A | |||||||
Note: | |||||||||
-1 | For the three months ended March 31, 2015, the cost of revenue-share payments received by Customer D was less than 10%. |
The_Company_and_Summary_of_Sig2
The Company and Summary of Significant Accounting Policies (Tables) | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Accounting Policies [Abstract] | |||||||||
Schedule of Concentrations Equal to or Exceeding 10% of Company's Accounts Receivable, Revenue, and Cost of Revenue | As of December 31, 2014 and March 31, 2015, and for the three months ended March 31, 2014 and 2015, the Company had concentrations equal to or exceeding 10% of the Company’s accounts receivable and revenue as follows: | ||||||||
Accounts Receivable | |||||||||
December 31, | March 31, | ||||||||
2014 | 2015 | ||||||||
23% | 21% | ||||||||
Digital Advertising Partner | 11% | 12% | |||||||
Portal Customer (1) | 12% | N/A | |||||||
Note: | |||||||||
-1 | As of March 31, 2015, accounts receivable for Portal Customer was less than 10%. | ||||||||
Revenue | |||||||||
Three Months Ended | |||||||||
March 31, | |||||||||
2014 | 2015 | ||||||||
51% | 36% | ||||||||
For the three months ended March 31, 2014 and 2015, the following customers received revenue-share payments equal to or exceeding 10% of the Company’s cost of revenue. The costs represent revenue share paid to customers for their supply of Internet traffic on the Company’s start experiences: | |||||||||
Cost of Revenue | |||||||||
Three Months Ended | |||||||||
March 31, | |||||||||
2014 | 2015 | ||||||||
Customer A | 23% | 24 | % | ||||||
Customer B | 15% | 10 | % | ||||||
Customer C | 11% | 10 | % | ||||||
Customer D (1) | 10% | N/A | |||||||
Note: | |||||||||
-1 | For the three months ended March 31, 2015, the cost of revenue-share payments received by Customer D was less than 10%. |
Property_and_EquipmentNet_Tabl
Property and Equipment-Net (Tables) | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Property, Plant and Equipment [Abstract] | |||||||||
Schedule of Property and Equipment | Property and equipment, net consisted of the following: | ||||||||
December 31, | March 31, | ||||||||
2014 | 2015 | ||||||||
(in thousands) | |||||||||
Computer equipment (1) | $ | 21,194 | $ | 21,615 | |||||
Computer software | 10,741 | 11,419 | |||||||
Furniture and fixtures | 1,847 | 1,835 | |||||||
Leasehold improvements | 1,389 | 1,362 | |||||||
Work in process (primarily software development costs) | 1,203 | 999 | |||||||
Other | 173 | 173 | |||||||
36,547 | 37,403 | ||||||||
Less accumulated depreciation (2) | (21,419 | ) | (22,875 | ) | |||||
Total property and equipment—net | $ | 15,128 | $ | 14,528 | |||||
Notes: | |||||||||
-1 | Includes equipment under capital lease obligations of $4.8 million and $3.1 million as of December 31, 2014 and March 31, 2015, respectively. | ||||||||
-2 | Includes $2.7 million and $1.1 million of accumulated depreciation of equipment under capital leases as of December 31, 2014 and March 31, 2015, respectively. |
Accrued_Expenses_and_Other_Cur1
Accrued Expenses and Other Current Liabilities (Tables) | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Payables and Accruals [Abstract] | |||||||||
Schedule of Accrued Expenses and Other Current Liabilities | Accrued expenses and other current liabilities consisted of the following: | ||||||||
December 31, | March 31, | ||||||||
2014 | 2015 | ||||||||
(in thousands) | |||||||||
Accrued compensation | $ | 4,066 | $ | 3,671 | |||||
Accrued content fees | 1,745 | 1,300 | |||||||
Accrued business acquisition consideration | 495 | 495 | |||||||
Unearned revenue on contracts | 642 | 410 | |||||||
Other | 1,455 | 1,274 | |||||||
Total | $ | 8,403 | $ | 7,150 | |||||
Information_About_Segment_and_1
Information About Segment and Geographic Areas (Tables) | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Segment Reporting [Abstract] | |||||||||
Schedule of Revenue and Long Lived Tangible Assets by Geographic Area | The following table sets forth revenue and long-lived tangible assets by geographic area: | ||||||||
Three Months Ended | |||||||||
March 31, | |||||||||
2014 | 2015 | ||||||||
(in thousands) | |||||||||
Revenue | |||||||||
United States | $ | 25,078 | $ | 26,530 | |||||
International | 170 | 200 | |||||||
Total revenue | $ | 25,248 | $ | 26,730 | |||||
December 31, | March 31, | ||||||||
2014 | 2015 | ||||||||
(in thousands) | |||||||||
Long-lived tangible assets | |||||||||
United States | $ | 14,573 | $ | 13,578 | |||||
Canada | 502 | 796 | |||||||
International | 53 | 154 | |||||||
Total long-lived tangible assets | $ | 15,128 | $ | 14,528 | |||||
Commitments_and_Contingencies_
Commitments and Contingencies (Tables) | 3 Months Ended | ||||
Mar. 31, 2015 | |||||
Commitments and Contingencies Disclosure [Abstract] | |||||
Schedule of Contract Commitments | Contract commitments as of March 31, 2015 are summarized as follows: | ||||
Year ending December 31: | (in thousands) | ||||
2015 (remaining nine months) | $ | 2,056 | |||
2016 | 1,300 | ||||
2017 | 580 | ||||
2018 | 110 | ||||
2019 | — | ||||
Due after 5 years | — | ||||
Total contract commitments | $ | 4,046 | |||
Equity_Tables
Equity (Tables) | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Equity [Abstract] | |||||||||
Schedule of Stock Repurchased | The following table sets forth the shares of common stock repurchased through the program in the following periods: | ||||||||
Three Months Ended | |||||||||
March 31, | |||||||||
2014 | 2015 | ||||||||
Shares of common stock repurchased | 22,000 | — | |||||||
Value of common stock repurchased (in thousands) | $ | 56 | $ | — |
Stockbased_Compensation_Tables
Stock-based Compensation (Tables) | 3 Months Ended | ||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |||||||||||||||||
Schedule of Total Stock Based Compensation Expense | Total stock-based compensation expense included in the accompanying condensed consolidated statements of operations for the periods presented, is as follows : | ||||||||||||||||
Three Months Ended | |||||||||||||||||
March 31, | |||||||||||||||||
2014 | 2015 | ||||||||||||||||
(in thousands) | |||||||||||||||||
Technology and development | $ | 327 | $ | 217 | |||||||||||||
Sales and marketing | 108 | 241 | |||||||||||||||
General and administrative | 246 | 284 | |||||||||||||||
Total stock-based compensation expense | $ | 681 | $ | 742 | |||||||||||||
Summary of Stock Option Activity | Stock Option Activity — A summary of the stock option activity for the three months ended March 31, 2015 is presented below: | ||||||||||||||||
Number of | Weighted | Aggregate | Weighted | ||||||||||||||
Stock | Average | Intrinsic Value | Average | ||||||||||||||
Options | Exercise | (in thousands) | Remaining | ||||||||||||||
Price | Contractual | ||||||||||||||||
Term (in | |||||||||||||||||
years) | |||||||||||||||||
Outstanding—January 1, 2015 | 6,755,790 | $ | 2.86 | ||||||||||||||
Granted (1) | 1,091,200 | $ | 2.15 | ||||||||||||||
Exercised | (2,260 | ) | $ | 2.38 | |||||||||||||
Forfeited (1) | (257,989 | ) | $ | 2.54 | |||||||||||||
Outstanding—March 31, 2015 | 7,586,741 | $ | 2.77 | $ | 569 | 7.55 | |||||||||||
Vested and expected to vest—March 31, 2015 | 7,093,519 | $ | 2.77 | $ | 541 | 7.42 | |||||||||||
Vested and exercisable—March 31, 2015 | 2,996,890 | $ | 3.21 | $ | 369 | 5.06 | |||||||||||
Note: | |||||||||||||||||
-1 | The number of options granted and forfeited includes options cancelled and replaced in conjunction with the modifications described below. |
Net_Income_Loss_Per_Common_Sha1
Net Income (Loss) Per Common Share Data (Tables) | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Earnings Per Share [Abstract] | |||||||||
Schedule of Basic and Diluted Net Loss Per Share | The following table presents the calculation of basic and diluted net loss per share for the three months ended March 31, 2014 and 2015: | ||||||||
Three Months Ended, | |||||||||
March 31, | |||||||||
2014 | 2015 | ||||||||
(in thousands, except share | |||||||||
and per share data) | |||||||||
Basic net loss per share: | |||||||||
Numerator: | |||||||||
Net loss | $ | (2,056 | ) | $ | (1,073 | ) | |||
Denominator: | |||||||||
Weighted-average common shares outstanding | 27,434,374 | 27,407,147 | |||||||
Basic net loss per share | $ | (0.07 | ) | $ | (0.04 | ) | |||
Diluted net loss per share: | |||||||||
Numerator: | |||||||||
Net loss | $ | (2,056 | ) | $ | (1,073 | ) | |||
Denominator: | |||||||||
Number of shares used in basic calculation | 27,434,374 | 27,407,147 | |||||||
Add weighted-average effect of dilutive securities: | |||||||||
None | — | — | |||||||
Number of shares used in diluted calculation | 27,434,374 | 27,407,147 | |||||||
Diluted net loss per share | $ | (0.07 | ) | $ | (0.04 | ) | |||
Schedule of Equivalent Shares Excluded from Calculation of Diluted Net Loss Per Share | The following equivalent shares were excluded from the calculation of diluted net loss per share because their effect would have been anti-dilutive for the periods presented: | ||||||||
Three Months Ended, | |||||||||
March 31, | |||||||||
2014 | 2015 | ||||||||
Antidilutive equity awards: | |||||||||
Stock options and RSUs | 5,670,083 | 8,316,190 | |||||||
The_Company_and_Summary_of_Sig3
The Company and Summary of Significant Accounting Policies - Schedule of Concentrations Equal to or Exceeding 10% of Company's Accounts Receivable, Revenue, and Cost of Revenue (Detail) (Customer Concentration Risk [Member]) | 3 Months Ended | 12 Months Ended | 3 Months Ended |
Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2014 | |
Accounts Receivable [Member] | Google [Member] | |||
Concentration Risk [Line Items] | |||
Concentration risk, percentage | 21.00% | 23.00% | |
Accounts Receivable [Member] | Display Advertising Partner [Member] | |||
Concentration Risk [Line Items] | |||
Concentration risk, percentage | 12.00% | 11.00% | |
Accounts Receivable [Member] | Portal Customer [Member] | |||
Concentration Risk [Line Items] | |||
Concentration risk, percentage | 12.00% | ||
Cost of Sales [Member] | Customer A [Member] | |||
Concentration Risk [Line Items] | |||
Concentration risk, percentage | 24.00% | 23.00% | |
Cost of Sales [Member] | Customer B [Member] | |||
Concentration Risk [Line Items] | |||
Concentration risk, percentage | 10.00% | 15.00% | |
Cost of Sales [Member] | Customer C [Member] | |||
Concentration Risk [Line Items] | |||
Concentration risk, percentage | 10.00% | 11.00% | |
Cost of Sales [Member] | Customer D [Member] | |||
Concentration Risk [Line Items] | |||
Concentration risk, percentage | 10.00% | ||
Revenue [Member] | Google [Member] | |||
Concentration Risk [Line Items] | |||
Concentration risk, percentage | 36.00% | 51.00% |
The_Company_and_Summary_of_Sig4
The Company and Summary of Significant Accounting Policies - Schedule of Concentrations Equal to or Exceeding 10% of Company's Accounts Receivable, Revenue, and Cost of Revenue (Parenthetical) (Detail) (Customer Concentration Risk [Member]) | 12 Months Ended | 3 Months Ended | 0 Months Ended |
Dec. 31, 2014 | Mar. 31, 2015 | Mar. 31, 2015 | |
Portal Customer [Member] | Accounts Receivable [Member] | |||
Concentration Risk [Line Items] | |||
Concentration risk, percentage | 12.00% | ||
Customer D [Member] | Cost of Revenue [Member] | |||
Concentration Risk [Line Items] | |||
Concentration risk, percentage | 10.00% | ||
Maximum [Member] | Portal Customer [Member] | Accounts Receivable [Member] | |||
Concentration Risk [Line Items] | |||
Concentration risk, percentage | 10.00% |
The_Company_and_Summary_of_Sig5
The Company and Summary of Significant Accounting Policies - Rights Plan - Additional Information (Detail) (USD $) | 0 Months Ended | ||||
Jul. 14, 2014 | Mar. 31, 2015 | Dec. 31, 2014 | Jul. 14, 2014 | Feb. 15, 2012 | |
Class of Warrant or Right [Line Items] | |||||
Common stock dividend declared, number of preferred share purchase rights for each outstanding share of common stock | 100.00% | 100.00% | |||
Number of shares called by each Right | 0.01 | 0.01 | |||
Exercise price | $10 | $10 | |||
Preferred stock, shares authorized | 10,000,000 | 10,000,000 | 10,000,000 | ||
Exercisable period after public announcement | 10 days | ||||
Beneficial ownership threshold of common stock for rights be become exercisable | 10.00% | ||||
Market value of acquiring corporation shares | $20 | $20 | |||
Minimum ownership percentage of common stock Board of Directors may no longer exchange common stock | 50.00% | ||||
Exchange of common stock for Right, exchange ratio | 1 | 1 | |||
Series A Junior Participating Preferred Stock [Member] | |||||
Class of Warrant or Right [Line Items] | |||||
Preferred stock, shares authorized | 2,000,000 | 2,000,000 | 2,000,000 |
Investments_and_Fair_Value_Mea1
Investments and Fair Value Measurements - Additional Information (Detail) (USD $) | 1 Months Ended | 3 Months Ended |
Jul. 31, 2013 | Mar. 31, 2015 | |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Payments to acquire investment | $1,000,000 | |
Level 3 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
No other than temporary impairments in investments | $0 |
Property_and_EquipmentNet_Sche
Property and Equipment-Net - Schedule of Property and Equipment (Detail) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment gross | $37,403 | $36,547 |
Less accumulated depreciation | -22,875 | -21,419 |
Total property and equipment-net | 14,528 | 15,128 |
Computer Equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment gross | 21,615 | 21,194 |
Computer Software [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment gross | 11,419 | 10,741 |
Furniture and Fixtures [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment gross | 1,835 | 1,847 |
Leasehold Improvements [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment gross | 1,362 | 1,389 |
Work in Process [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment gross | 999 | 1,203 |
Other [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment gross | $173 | $173 |
Property_and_EquipmentNet_Sche1
Property and Equipment-Net - Schedule of Property and Equipment (Parenthetical) (Detail) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment gross | $37,403 | $36,547 |
Accumulated depreciation of equipment under capital leases | 22,875 | 21,419 |
Capital Lease Obligations [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Accumulated depreciation of equipment under capital leases | 1,100 | 2,700 |
Computer Equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment gross | 21,615 | 21,194 |
Computer Equipment [Member] | Capital Lease Obligations [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment gross | $3,100 | $4,800 |
Accrued_Expenses_and_Other_Cur2
Accrued Expenses and Other Current Liabilities - Schedule of Accrued Expenses and Other Current Liabilities (Detail) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Accounts Payable and Accrued Liabilities, Current [Abstract] | ||
Accrued compensation | $3,671 | $4,066 |
Accrued content fees | 1,300 | 1,745 |
Accrued business acquisition consideration | 495 | 495 |
Unearned revenue on contracts | 410 | 642 |
Other | 1,274 | 1,455 |
Total | $7,150 | $8,403 |
Information_About_Segment_and_2
Information About Segment and Geographic Areas - Additional Information (Detail) | 3 Months Ended |
Mar. 31, 2015 | |
Segment | |
Managers | |
Revenues From External Customers And Long Lived Assets [Abstract] | |
Number of segment managers accountable for operations below the Company level | 0 |
Number of reportable segments | 1 |
Number of operating units | 1 |
Information_About_Segment_and_3
Information About Segment and Geographic Areas - Schedule of Revenue and Long Lived Tangible Assets by Geographic Area (Detail) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Revenues from External Customers and Long-Lived Assets [Line Items] | ||
REVENUE | $26,730 | $25,248 |
Long-lived tangible assets | 14,528 | 15,128 |
United States [Member] | ||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||
REVENUE | 26,530 | 25,078 |
Long-lived tangible assets | 13,578 | 14,573 |
Canada [Member] | ||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||
Long-lived tangible assets | 796 | 502 |
International [Member] | ||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||
REVENUE | 200 | 170 |
Long-lived tangible assets | $154 | $53 |
Commitments_and_Contingencies_1
Commitments and Contingencies - Schedule of Contract Commitments (Detail) (USD $) | Mar. 31, 2015 |
In Thousands, unless otherwise specified | |
Contractual Obligation, Fiscal Year Maturity [Abstract] | |
2015 (remaining nine months) | $2,056 |
2016 | 1,300 |
2017 | 580 |
2018 | 110 |
2019 | 0 |
Due after 5 years | 0 |
Total contract commitments | $4,046 |
Commitments_and_Contingencies_2
Commitments and Contingencies - Additional Information (Detail) (Teknision Inc [Member], USD $) | Mar. 31, 2015 |
In Millions, unless otherwise specified | |
Teknision Inc [Member] | |
Business Acquisition [Line Items] | |
Remaining payment for acquisition for the purchase price to acquire the assets | $0.50 |
Equity_Additional_Information_
Equity - Additional Information (Detail) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 | Feb. 28, 2014 | Feb. 15, 2012 | Jul. 14, 2014 |
Class of Stock [Line Items] | |||||
Common stock, shares authorized | 100,000,000 | 100,000,000 | 100,000,000 | ||
Common stock, par value | $0.01 | $0.01 | $0.01 | ||
Preferred stock, shares authorized | 10,000,000 | 10,000,000 | 10,000,000 | ||
Preferred stock, par value | $0.01 | $0.01 | $0.01 | ||
Shares authorized to be repurchased, amount | $5,000,000 | ||||
Series A Junior Participating Preferred Stock [Member] | |||||
Class of Stock [Line Items] | |||||
Preferred stock, shares authorized | 2,000,000 | 2,000,000 |
Equity_Schedule_of_Stock_Repur
Equity - Schedule of Stock Repurchased (Detail) (USD $) | 3 Months Ended |
In Thousands, except Share data, unless otherwise specified | Mar. 31, 2014 |
Equity [Abstract] | |
Shares of common stock repurchased | 22,000 |
Value of common stock repurchased (in thousands) | $56 |
Equity_Withhold_to_Cover_Addit
Equity - Withhold to Cover - Additional Information (Detail) | 3 Months Ended | |
Mar. 31, 2015 | Mar. 31, 2014 | |
Equity [Abstract] | ||
Shares withheld to satisfy minimum statutory tax withholding requirements | 25,783 | 0 |
Stockbased_Compensation_Additi
Stock-based Compensation - Additional Information (Detail) (USD $) | 3 Months Ended | |
Mar. 31, 2015 | Mar. 31, 2014 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ||
Stock-based compensation expense | $742,000 | $681,000 |
Closing stock price as reported on the NASDAQ | $2.27 | |
Weighted average fair value of options issued | $1.20 | |
Unrecognized compensation cost related to non-vested options granted | 6,300,000 | |
Total fair value of shares vested | $200,000 | |
Expected weighted average period to recognize unrecognized compensation cost | 2 years 10 months 24 days |
Stockbased_Compensation_Schedu
Stock-based Compensation - Schedule of Total Stock Based Compensation Expense (Detail) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ||
Total stock-based compensation expense | $742 | $681 |
Technology and Development [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ||
Total stock-based compensation expense | 217 | 327 |
Sales and Marketing [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ||
Total stock-based compensation expense | 241 | 108 |
General and Administrative [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ||
Total stock-based compensation expense | $284 | $246 |
Stockbased_Compensation_Summar
Stock-based Compensation - Summary of Stock Option Activity (Detail) (USD $) | 3 Months Ended |
In Thousands, except Share data, unless otherwise specified | Mar. 31, 2015 |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Outstanding number of stock options beginning balance | 6,755,790 |
Number of stock options granted | 1,091,200 |
Number of stock options exercised | -2,260 |
Number of stock options forfeited | -257,989 |
Outstanding number of stock options ending balance | 7,586,741 |
Outstanding number of stock options vested and expected to vest | 7,093,519 |
Outstanding number of stock options vested and exercisable | 2,996,890 |
Outstanding, weighted average exercise price, beginning balance | $2.86 |
Weighted average exercise price, granted | $2.15 |
Weighted average exercise price, exercised | $2.38 |
Weighted average exercise price, forfeited | $2.54 |
Outstanding, weighted average exercise price, ending balance | $2.77 |
Vested and expected to vest, weighted average exercise price, ending balance | $2.77 |
Vested and exercisable, weighted average exercise price, ending balance | $3.21 |
Aggregate intrinsic value, outstanding | $569 |
Aggregate intrinsic value, vested and expected to vest | 541 |
Aggregate intrinsic value, vested and exercisable | $369 |
Weighted average remaining contractual term (in years), outstanding | 7 years 6 months 18 days |
Weighted average remaining contractual term (in years), vested and expected to vest | 7 years 5 months 1 day |
Weighted average remaining contractual term (in years), vested and exercisable | 5 years 22 days |
Net_Income_Loss_Per_Common_Sha2
Net Income (Loss) Per Common Share Data - Schedule of Basic and Diluted Net Loss Per Share (Detail) (USD $) | 3 Months Ended | |
In Thousands, except Share data, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Numerator: | ||
Net loss | ($1,073) | ($2,056) |
Denominator: | ||
Weighted-average common shares outstanding | 27,407,147 | 27,434,374 |
Basic net loss per share | ($0.04) | ($0.07) |
Numerator: | ||
Net loss | ($1,073) | ($2,056) |
Denominator: | ||
Weighted-average common shares outstanding | 27,407,147 | 27,434,374 |
Add weighted-average effect of dilutive securities: | ||
Weighted-average effect of diluted securities | 0 | 0 |
Number of shares used in diluted calculation | 27,407,147 | 27,434,374 |
Diluted net loss per share | ($0.04) | ($0.07) |
Net_Income_Loss_Per_Common_Sha3
Net Income (Loss) Per Common Share Data - Schedule of Equivalent Shares Excluded from Calculation of Diluted Net Loss Per Share (Detail) (Stock Options and RSUs [Member]) | 3 Months Ended | |
Mar. 31, 2015 | Mar. 31, 2014 | |
Stock Options and RSUs [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Antidilutive equity awards | 8,316,190 | 5,670,083 |