Financial Engines 10-Q 31 Jul 14 2014 Q2 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	6 Months Ended
	Jun. 30, 2014	Jul. 24, 2014
Document Information [Line Items]	'	'
Document Type	'10-Q	'
Amendment Flag	'false	'
Document Period End Date	30-Jun-14	'
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q2	'
Trading Symbol	'FNGN	'
Entity Registrant Name	'FINANCIAL ENGINES, INC.	'
Entity Central Index Key	'0001430592	'
Current Fiscal Year End Date	'--12-31	'
Entity Filer Category	'Large Accelerated Filer	'
Entity Common Stock, Shares Outstanding	'	51,754,155

Condensed_Consolidated_Balance

Condensed Consolidated Balance Sheets (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Current assets:	'	'
Cash and cash equivalents	$131,280	$126,003
Short-term investments	149,929	120,027
Accounts receivable, net	64,003	63,805
Prepaid expenses	3,749	3,271
Deferred tax assets	15,012	17,363
Other current assets	2,422	3,326
Total current assets	366,395	333,795
Property and equipment, net	15,826	15,273
Internal use software, net	7,460	8,530
Long-term deferred tax assets	4,989	4,989
Direct response advertising, net	8,373	9,717
Other assets	3,063	3,377
Total assets	406,106	375,681
Current liabilities:	'	'
Accounts payable	19,703	20,801
Accrued compensation	6,850	14,138
Deferred revenue	7,853	7,868
Dividend payable	3,097	2,540
Other current liabilities	1,057	959
Total current liabilities	38,560	46,306
Long-term deferred revenue	487	714
Long-term deferred rent	6,554	6,644
Other liabilities	1,223	131
Total liabilities	46,824	53,795
Contingencies (see note 9)	'	'
Stockholders' equity:	'	'
Preferred stock, $0.0001 par value - 10,000 authorized as of December 31, 2013 and June 30, 2014; None issued or outstanding as of December 31, 2013 and June 30, 2014	0	0
Common stock, $0.0001 par value - 500,000 authorized as of December 31, 2013 and June 30, 2014; 50,890 and 51,679 shares issued and outstanding at December 31, 2013 and June 30, 2014, respectively	5	5
Additional paid-in capital	387,653	361,955
Accumulated deficit	-28,376	-40,074
Total stockholders' equity	359,282	321,886
Total liabilities and stockholders' equity	$406,106	$375,681

Condensed_Consolidated_Balance1

Condensed Consolidated Balance Sheets (Parenthetical) (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Thousands, except Per Share data, unless otherwise specified
Preferred stock, par value	$0.00	$0.00
Preferred stock, shares authorized	10,000	10,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$0.00	$0.00
Common stock, shares authorized	500,000	500,000
Common stock, shares issued	51,679	50,890
Common stock, shares outstanding	51,679	50,890

Condensed_Consolidated_Stateme

Condensed Consolidated Statements of Income (USD $)	3 Months Ended		6 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Revenue:	'	'	'	'
Professional management	$60,735	$48,501	$117,804	$93,955
Platform	8,222	8,454	16,512	16,503
Other	832	825	1,350	1,187
Total revenue	69,789	57,780	135,666	111,645
Costs and expenses:	'	'	'	'
Cost of revenue (exclusive of amortization of internal use software)	27,178	22,546	53,156	42,474
Research and development	7,011	7,643	14,932	15,267
Sales and marketing	11,823	10,910	23,700	21,263
General and administrative	5,576	5,147	11,446	9,965
Amortization of internal use software	1,623	1,723	3,135	3,360
Total costs and expenses	53,211	47,969	106,369	92,329
Income from operations	16,578	9,811	29,297	19,316
Interest income, net	41	7	77	10
Other income, net	'	'	3	'
Income before income taxes	16,619	9,818	29,377	19,326
Income tax expense	6,565	3,475	11,506	6,791
Net and comprehensive income	$10,054	$6,343	$17,871	$12,535
Dividends declared per share of common stock	$0.06	$0.05	$0.12	$0.10
Net income per share attributable to holders of common stock	'	'	'	'
Basic	$0.20	$0.13	$0.35	$0.26
Diluted	$0.19	$0.12	$0.34	$0.24
Shares used to compute net income per share attributable to holders of common stock	'	'	'	'
Basic	51,523	49,201	51,313	48,744
Diluted	53,275	52,086	53,270	51,766

Condensed_Consolidated_Stateme1

Condensed Consolidated Statements of Cash Flows (USD $)	6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013
Cash flows from operating activities:	'	'
Net income	$17,871	$12,535
Adjustments to reconcile net income to net cash provided by operating activities:	'	'
Depreciation and amortization	2,232	1,921
Amortization of internal use software	2,953	3,145
Stock-based compensation	9,850	6,210
Amortization of deferred sales commissions	804	967
Amortization and impairment of direct response advertising	3,097	2,970
Amortization of discount on short-term investments	1	-3
Provision for doubtful accounts	356	237
Deferred tax assets	3,365	4,735
Loss (gain) on fixed asset disposal	-8	'
Excess tax benefit associated with stock-based compensation	-8,109	-1,234
Changes in operating assets and liabilities:	'	'
Accounts receivable	-555	-6,961
Prepaid expenses	-478	-256
Direct response advertising	-1,749	-2,055
Other assets	413	-26
Accounts payable	7,631	6,430
Accrued compensation	-7,287	-2,596
Deferred revenue	-243	483
Deferred rent	-35	251
Net cash provided by operating activities	30,109	26,753
Cash flows from investing activities:	'	'
Purchase of property and equipment	-3,234	-1,943
Sale of property and equipment	8	'
Capitalization of internal use software	-1,922	-2,357
Purchases of short-term investments	-89,902	-39,971
Maturities of short-term investments	60,000	'
Net cash used in investing activities	-35,050	-44,271
Cash flows from financing activities:	'	'
Payments on capital lease obligations	-50	-31
Excess tax benefit associated with stock-based compensation	8,109	1,234
Net share settlements for minimum tax withholdings	-128	'
Proceeds from issuance of common stock	7,903	13,300
Cash dividend payments	-5,616	-2,436
Net cash provided by financing activities	10,218	12,067
Net increase (decrease) in cash and cash equivalents	5,277	-5,451
Cash and cash equivalents, beginning of period	126,003	181,231
Cash and cash equivalents, end of period	131,280	175,780
Supplemental cash flows information:	'	'
Income taxes paid, net of refunds	211	429
Interest paid	6	5
Non-cash operating, investing and financing activities:	'	'
Purchase of property and equipment under capital lease	169	34
Unpaid purchases of property and equipment	444	233
Capitalized stock-based compensation for internal use software	142	140
Capitalized stock-based compensation for direct response advertising	36	25
Dividends declared but not yet paid	$3,097	$2,475

Organization_and_Description_o

Organization and Description of the Business	6 Months Ended
	Jun. 30, 2014
Organization and Description of the Business	'
	NOTE 1 — Organization and Description of the Business
	The Company
	Financial Engines, Inc. (the Company) was incorporated on May 13, 1996 under the laws of the State of California and is headquartered in Sunnyvale, California. In February 2010, the Company was reincorporated under the laws of the State of Delaware.
	Financial Engines is a provider of independent, technology-enabled portfolio management services, investment advice and retirement income services primarily to participants in employer-sponsored defined contribution plans, such as 401(k) plans. The Company helps investors plan for retirement by offering personalized plans for saving and investing, as well as by providing assessments of retirement income needs and readiness, regardless of personal wealth or investment account size. The Company uses its proprietary advice technology platform to provide independent, personalized portfolio management, investment advice and retirement income services to millions of retirement plan participants on a cost-efficient basis.

Basis_of_Presentation

Basis of Presentation	6 Months Ended
	Jun. 30, 2014
Basis of Presentation	'
	NOTE 2 — Basis of Presentation
	Interim Financial Statements
	The accompanying condensed consolidated financial statements and notes thereto are unaudited. These unaudited interim condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (GAAP) and applicable rules and regulations of the Securities and Exchange Commission (SEC) regarding interim financial reporting. Certain information and note disclosures normally included in the financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. Accordingly, these interim condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes contained in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2013, as filed on February 20, 2014 with the SEC (the 2013 Annual Report). The Condensed Consolidated Balance Sheet as of December 31, 2013, included herein, was derived from the audited financial statements as of that date but does not include all disclosures including notes required by GAAP.
	The unaudited interim condensed consolidated financial statements have been prepared on the same basis as the audited consolidated financial statements and include all adjustments necessary for the fair presentation of the Company’s Balance Sheets as of December 31, 2013 and June 30, 2014, the Company’s Statements of Income for the three and six months ended June 30, 2013 and 2014 and the Company’s Statements of Cash Flows for the six months ended June 30, 2013 and 2014. The results for the three and six months ended June 30, 2014 are not necessarily indicative of the results to be expected for the year ending December 31, 2014.
	Comprehensive income is defined as the change in equity of a business enterprise during a period from transactions and other events and circumstances from non-owner sources. Comprehensive income is the same as net income for all periods presented.
	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, the disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expense during the reporting period. Significant items subject to such estimates and assumptions include income taxes, stock-based compensation, direct response advertising, the useful lives of property, equipment, internal use software and revenue recognition. Actual results could differ from those estimates under different assumptions or conditions.
	Short-term Investments
	Short-term investments consist of U.S. Treasury securities. The Company classifies its short-term investments as held-to maturity as the Company has the positive intent and ability to hold to maturity and they are carried at amortized cost. The Company evaluates the investments periodically for possible other-than-temporary impairment. In order to determine whether a decline in value is other-than-temporary, the Company evaluates, among other factors: the duration and extent to which the fair value has been less than the carrying value, and its intent and ability to retain the investment for a period of time sufficient to allow for any anticipated recovery in fair value.
	Recent Accounting Pronouncements
	On May 28, 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2014-09, Revenue from Contracts with Customers, which requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. The ASU will replace most existing revenue recognition guidance in U.S. GAAP when it becomes effective. The new standard is effective for the Company on January 1, 2017. Early application is not permitted. The standard permits the use of either the retrospective or cumulative effect transition method. The Company is evaluating the effect that ASU 2014-09 will have on its consolidated financial statements and related disclosures. The Company has not yet selected a transition method nor has it determined the effect of the standard on its ongoing financial reporting.

Cash_and_Cash_Equivalents

Cash and Cash Equivalents	6 Months Ended
	Jun. 30, 2014
Cash and Cash Equivalents	'
	NOTE 3 — Cash and Cash Equivalents
	The Company considers all highly liquid investments with an original maturity of three months or less from date of purchase to be cash equivalents. Cash equivalents are comprised of cash held primarily in money market accounts. Cash and cash equivalents consist of the following:
		December 31,		June 30,
		2013		2014
		(In thousands)
	Cash	$	12,404	$	20,482
	Money market fund		113,599		110,798
	Total cash and cash equivalents	$	126,003	$	131,280

ShortTerm_Investments

Short-Term Investments	6 Months Ended
	Jun. 30, 2014
Short-Term Investments	'
	NOTE 4 — Short-Term Investments
	The Company considers all investments purchased with an original remaining maturity of between three and twelve months at the date of purchase to be short-term investments. The U.S. Treasury securities are classified as held-to-maturity. A reconciliation between amortized cost and fair value of short-term investments is as follows:
		December 31,			June 30,
		2013			2014
		(In thousands)
	U.S. Treasury Securities:
	Amortized cost	$	120,027		$	149,929
	Gross unrecognized gains		12			33
	Gross unrecognized losses		(2	)		(1	)
	Fair value	$	120,037		$	149,961

Concentration_of_Credit_Risk_a

Concentration of Credit Risk and Fair Value of Financial Instruments	6 Months Ended
	Jun. 30, 2014
Concentration of Credit Risk and Fair Value of Financial Instruments	'
	NOTE 5 — Concentration of Credit Risk and Fair Value of Financial Instruments
	The Company measures and reports its investments in money market funds at fair value on a recurring basis, which approximates their carrying value due to the short period of time to maturity, and reports its short-term investments in U.S. Treasury securities at amortized cost at each reporting period. There have been no changes in the Company’s valuation techniques during the six months ended June 30, 2014. The Company began purchasing six-month and twelve–month U.S. Treasury securities in May 2013. The U.S. Treasury securities have maturity dates through June 2015. Both the money market funds and U.S. Treasury securities are classified as Level 1.
	The following table summarizes the Company’s financial assets measured at fair value on a recurring basis:
			As of December 31, 2013												As of June 30, 2014
			Total Fair			Quoted Prices in			Significant			Significant			Total		Quoted Prices in		Significant		Significant
			Value			Active Markets			Other			Other			Fair Value		Active Markets		Other		Other
						for Identical			Observable			Unobservable					for Identical		Observable		Unobservable
						Assets			Inputs			Inputs					Assets		Inputs		Inputs
						(Level 1) (1)			(Level 2) (2)			(Level 3) (3)					(Level 1) (1)		(Level 2) (2)		(Level 3) (3)
			(In thousands)
	Assets:
	Money Market Funds		$	113,599		$	113,599		$	—		$	—		$	110,798	$	110,798	$	—	$	—
	US Treasury Securities		$	120,037		$	120,037		$	—		$	—		$	149,961	$	149,961	$	—	$	—
	-1	Level 1: Observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets.
	-2	Level 2: Inputs reflect quoted prices for identical assets or liabilities in markets that are not active; quoted prices for similar assets or liabilities in active markets; inputs other than quoted prices that are observable for the assets or liabilities; or inputs that are derived principally from or corroborated by observable market data by correlation or other means.
	-3	Level 3: Unobservable inputs reflecting the Company’s own assumptions incorporated in valuation techniques used to determine fair value. These assumptions are required to be consistent with market participant assumptions that are reasonably available.
	Financial instruments that potentially subject the Company to significant concentrations of credit risk consist principally of cash, cash equivalents, short-term investments and trade accounts receivable. The Company maintains its cash and cash equivalents primarily with a major bank, where deposits may exceed federal deposit insurance limits. The Company maintains cash equivalents primarily in highly-rated tax-exempt money market funds located in the United States.
	The Company’s customers are concentrated in the United States. The Company performs ongoing credit evaluations of its customers and does not require collateral. The Company reviews the need for allowances for potential credit losses and such losses have been insignificant to date.
	Significant customer information is as follows:
			December 31,			June 30,
			2013			2014
	Percentage of accounts receivable:
	JPMorgan			14	%		14	%
	ING			11	%		10	%
			Three Months Ended						Six Months Ended
			June 30,						June 30,
			2013			2014			2013			2014
	Percentage of revenue:
	JPMorgan			12	%		11	%		12	%		11	%

Stockholders_Equity

Stockholders' Equity	6 Months Ended
	Jun. 30, 2014
Stockholders' Equity	'
	NOTE 6 — Stockholders’ Equity
	Stock-based Compensation
	The following table summarizes the stock-based compensation, as included in the Condensed Consolidated Statements of Income, by functional area:
		Three Months Ended				Six Months Ended
		June 30,				June 30,
		2013		2014		2013		2014
		(In thousands)
	Stock-based compensation:
	Cost of revenue	$	354	$	674	$	636	$	1,258
	Research and development		764		1,128		1,404		2,248
	Sales and marketing		824		1,391		1,524		2,805
	General and administrative		1,366		1,782		2,431		3,357
	Amortization of internal use software		110		95		215		182
	Total stock-based compensation	$	3,418	$	5,070	$	6,210	$	9,850
	On a quarterly basis, the Company updates its Black-Scholes option pricing model to reflect the anticipated dividends to be paid over the expected term of the awards. For the three months ended June 30, 2014, the Company included a dividend yield of 0.5%.
	Cash Dividends
	On July 29, 2014 the Board of Directors declared a quarterly dividend of $0.06 per share to be paid on October 6, 2014 to record-holders as of September 22, 2014. While the Company currently expects to pay comparable cash dividends on a quarterly basis in the future, any future determination with respect to the declaration and payment of dividends will be at the discretion of the Board of Directors. As of June 30, 2014, the Company had a dividend payable balance of $3.1 million, which was paid to stockholders in July 2014.

Net_Income_Per_Common_Share

Net Income Per Common Share	6 Months Ended
	Jun. 30, 2014
Net Income Per Common Share	'
	NOTE 7 — Net Income Per Common Share
	Basic net income per common share is computed by dividing net income by the weighted average number of common shares outstanding during the period. Diluted net income per common share is computed by giving effect to all potential dilutive common shares, including options, awards, restricted stock units and performance stock units.
	The following table sets forth the computation of basic and diluted net income per share:
		Three Months Ended				Six Months Ended
		June 30,				June 30,
		2013		2014		2013		2014
		(In thousands, except per share data)
	Numerator (basic and diluted):
	Net income	$	6,343	$	10,054	$	12,535	$	17,871
	Denominator (basic):
	Net weighted average common shares outstanding		49,201		51,523		48,744		51,313
	Denominator (diluted):
	Weighted average common shares outstanding		49,201		51,523		48,744		51,313
	Dilutive stock options and awards outstanding		2,663		1,451		2,823		1,662
	Dilutive unvested restricted stock units		222		260		199		259
	Dilutive unvested performance stock units		—		41		—		36
	Net weighted average common shares outstanding		52,086		53,275		51,766		53,270
	Net income per share attributable to holders of common stock:
	Basic	$	0.13	$	0.2	$	0.26	$	0.35
	Diluted	$	0.12	$	0.19	$	0.24	$	0.34
	Diluted net income per share does not include the effect of the following anti-dilutive common equivalent shares:
		Three Months Ended				Six Months Ended
		June 30,				June 30,
		2013		2014		2013		2014
		(In thousands)
	Stock options outstanding		243		665		399		488
	Restricted stock units outstanding		32		58		16		29
	Performance stock units outstanding		40		—		20		—
	Total anti-dilutive common equivalent shares		315		723		435		517

Income_Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2014
Income Taxes	'
	NOTE 8 — Income Taxes
	The Company recorded an income tax provision of $3.5 million and $6.6 million for the three months ended June 30, 2013 and 2014, respectively, and an income tax provision of $6.8 million and $11.5 million for the six months ended June 30, 2013 and 2014, respectively. The Company’s effective tax rate was 35% and 39% for the six months ended June 30, 2013 and 2014, respectively. The increase in the Company’s effective tax rate was due primarily to a decrease in disqualifying stock dispositions, as well as a legislative change in the three and six months ended June 30, 2013 that resulted in the recognition of the benefit related to the 2012 research and development credit in the three and six months ended June 30, 2013. The research and development credit was not reinstated for fiscal year 2014.
	As of December 31, 2013, the Company continues to believe that sufficient positive evidence exists from historical operations and future projections to conclude that it is more likely than not to fully realize its federal deferred tax assets and to partially realize its State of California deferred tax assets in future periods. The Company continuously evaluates additional facts representing positive and negative evidence in the determination of the realizability of the deferred tax assets. The Company continues to apply a valuation allowance on certain deferred tax assets in the amount of $0.3 million as of December 31, 2013 relating to net operating losses for the State of California as it is not more likely than not that the Company will be able to realize these assets prior to their expiration.
	The Company is subject to income taxes in the U.S. federal jurisdiction and various state jurisdictions. All tax years since inception are open due to loss carryforwards and may be subject to examination in one or more jurisdictions. The Company has undergone a federal tax examination for fiscal years 2006 and 2007 and the results did not have a material impact on its financial condition and results of operations. As of June 30, 2014, there are no on-going tax audits in any significant tax jurisdictions.
	At December 31, 2013, the Company had net operating loss carryforwards for federal purposes of approximately $194.3 million that expire at varying dates through 2033. As of December 31, 2013, the Company had gross unrecognized tax benefits for income taxes associated with uncertain tax positions of $6.6 million. The balance of the gross unrecognized tax benefits is not expected to materially change in the next twelve months.
	The Company recognizes accrued interest and penalties related to unrecognized tax benefits as a component of income tax expense. During the six months ended June 30, 2013 and 2014, the accrued interest and penalties were immaterial.

Commitments_and_Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2014
Commitments and Contingencies	'
	NOTE 9 — Commitments and Contingencies
	Commitments
	In March 2014, the Company entered into a non-cancelable operating lease for a new Boston, Massachusetts facility totaling $16.6 million in future minimum payments through July 2025. The lease includes an extension option for a period of 5 years, an ongoing right of first offer with respect to any contiguous space that becomes available, and a one-time expansion option with respect to specific space on the floor below the leased premises. For this facility, the Company will recognize expense on a straight-line basis over the lease period commencing on the date that the facility becomes available to the Company for construction purposes, which occurred in July 2014. The lease provides for a 26-month free rent period and escalating rent payments thereafter. The new operating lease contract includes a tenant improvement allowance of approximately $2.4 million, and as of June 30, 2014 there was a receivable balance associated with this allowance of $0.2 million. The lease for the currently occupied Boston, Massachusetts facility terminates in January 2015.
	Contingencies
	The Company includes service level commitments to its customers warranting certain levels of reliability and performance. The maximum total commitments under these obligations would not have a material effect on the Company’s operating results.

Basis_of_Presentation_Policies

Basis of Presentation (Policies)	6 Months Ended
	Jun. 30, 2014
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, the disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expense during the reporting period. Significant items subject to such estimates and assumptions include income taxes, stock-based compensation, direct response advertising, the useful lives of property, equipment, internal use software and revenue recognition. Actual results could differ from those estimates under different assumptions or conditions.
Short-term Investments	'
	Short-term Investments
	Short-term investments consist of U.S. Treasury securities. The Company classifies its short-term investments as held-to maturity as the Company has the positive intent and ability to hold to maturity and they are carried at amortized cost. The Company evaluates the investments periodically for possible other-than-temporary impairment. In order to determine whether a decline in value is other-than-temporary, the Company evaluates, among other factors: the duration and extent to which the fair value has been less than the carrying value, and its intent and ability to retain the investment for a period of time sufficient to allow for any anticipated recovery in fair value.
Recent Accounting Pronouncements	'
	Recent Accounting Pronouncements
	On May 28, 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2014-09, Revenue from Contracts with Customers, which requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. The ASU will replace most existing revenue recognition guidance in U.S. GAAP when it becomes effective. The new standard is effective for the Company on January 1, 2017. Early application is not permitted. The standard permits the use of either the retrospective or cumulative effect transition method. The Company is evaluating the effect that ASU 2014-09 will have on its consolidated financial statements and related disclosures. The Company has not yet selected a transition method nor has it determined the effect of the standard on its ongoing financial reporting.

Cash_and_Cash_Equivalents_Tabl

Cash and Cash Equivalents (Tables)	6 Months Ended
	Jun. 30, 2014
Cash and Cash Equivalents	'
	Cash and cash equivalents consist of the following:
		December 31,		June 30,
		2013		2014
		(In thousands)
	Cash	$	12,404	$	20,482
	Money market fund		113,599		110,798
	Total cash and cash equivalents	$	126,003	$	131,280

ShortTerm_Investments_Tables

Short-Term Investments (Tables)	6 Months Ended
	Jun. 30, 2014
Reconciliation Between Amortized Cost and Fair Value of Short-Term Investments	'
	A reconciliation between amortized cost and fair value of short-term investments is as follows:
		December 31,			June 30,
		2013			2014
		(In thousands)
	U.S. Treasury Securities:
	Amortized cost	$	120,027		$	149,929
	Gross unrecognized gains		12			33
	Gross unrecognized losses		(2	)		(1	)
	Fair value	$	120,037		$	149,961

Concentration_of_Credit_Risk_a1

Concentration of Credit Risk and Fair Value of Financial Instruments (Tables)	6 Months Ended
	Jun. 30, 2014
Summary of Financial Assets Measured at Fair Value on Recurring Basis	'
	The following table summarizes the Company’s financial assets measured at fair value on a recurring basis:
			As of December 31, 2013												As of June 30, 2014
			Total Fair			Quoted Prices in			Significant			Significant			Total		Quoted Prices in		Significant		Significant
			Value			Active Markets			Other			Other			Fair Value		Active Markets		Other		Other
						for Identical			Observable			Unobservable					for Identical		Observable		Unobservable
						Assets			Inputs			Inputs					Assets		Inputs		Inputs
						(Level 1) (1)			(Level 2) (2)			(Level 3) (3)					(Level 1) (1)		(Level 2) (2)		(Level 3) (3)
			(In thousands)
	Assets:
	Money Market Funds		$	113,599		$	113,599		$	—		$	—		$	110,798	$	110,798	$	—	$	—
	US Treasury Securities		$	120,037		$	120,037		$	—		$	—		$	149,961	$	149,961	$	—	$	—
	-1	Level 1: Observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets.
	-2	Level 2: Inputs reflect quoted prices for identical assets or liabilities in markets that are not active; quoted prices for similar assets or liabilities in active markets; inputs other than quoted prices that are observable for the assets or liabilities; or inputs that are derived principally from or corroborated by observable market data by correlation or other means.
	-3	Level 3: Unobservable inputs reflecting the Company’s own assumptions incorporated in valuation techniques used to determine fair value. These assumptions are required to be consistent with market participant assumptions that are reasonably available.
Significant Customer Information	'
	Significant customer information is as follows:
			December 31,			June 30,
			2013			2014
	Percentage of accounts receivable:
	JPMorgan			14	%		14	%
	ING			11	%		10	%
			Three Months Ended						Six Months Ended
			June 30,						June 30,
			2013			2014			2013			2014
	Percentage of revenue:
	JPMorgan			12	%		11	%		12	%		11	%

Stockholders_Equity_Tables

Stockholders' Equity (Tables)	6 Months Ended
	Jun. 30, 2014
Schedule of Share-Based Compensation by Functional Area	'
	The following table summarizes the stock-based compensation, as included in the Condensed Consolidated Statements of Income, by functional area:
		Three Months Ended				Six Months Ended
		June 30,				June 30,
		2013		2014		2013		2014
		(In thousands)
	Stock-based compensation:
	Cost of revenue	$	354	$	674	$	636	$	1,258
	Research and development		764		1,128		1,404		2,248
	Sales and marketing		824		1,391		1,524		2,805
	General and administrative		1,366		1,782		2,431		3,357
	Amortization of internal use software		110		95		215		182
	Total stock-based compensation	$	3,418	$	5,070	$	6,210	$	9,850

Net_Income_Per_Common_Share_Ta

Net Income Per Common Share (Tables)	6 Months Ended
	Jun. 30, 2014
Computation of Basic and Diluted Net Income Per Share	'
	The following table sets forth the computation of basic and diluted net income per share:
		Three Months Ended				Six Months Ended
		June 30,				June 30,
		2013		2014		2013		2014
		(In thousands, except per share data)
	Numerator (basic and diluted):
	Net income	$	6,343	$	10,054	$	12,535	$	17,871
	Denominator (basic):
	Net weighted average common shares outstanding		49,201		51,523		48,744		51,313
	Denominator (diluted):
	Weighted average common shares outstanding		49,201		51,523		48,744		51,313
	Dilutive stock options and awards outstanding		2,663		1,451		2,823		1,662
	Dilutive unvested restricted stock units		222		260		199		259
	Dilutive unvested performance stock units		—		41		—		36
	Net weighted average common shares outstanding		52,086		53,275		51,766		53,270
	Net income per share attributable to holders of common stock:
	Basic	$	0.13	$	0.2	$	0.26	$	0.35
	Diluted	$	0.12	$	0.19	$	0.24	$	0.34
Anti-dilutive Common Equivalent Shares	'
	Diluted net income per share does not include the effect of the following anti-dilutive common equivalent shares:
		Three Months Ended				Six Months Ended
		June 30,				June 30,
		2013		2014		2013		2014
		(In thousands)
	Stock options outstanding		243		665		399		488
	Restricted stock units outstanding		32		58		16		29
	Performance stock units outstanding		40		—		20		—
	Total anti-dilutive common equivalent shares		315		723		435		517

Cash_and_Cash_Equivalents_Deta

Cash and Cash Equivalents (Detail) (USD $)	Jun. 30, 2014	Dec. 31, 2013	Jun. 30, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified
Cash and Cash Equivalents [Line Items]	'	'	'	'
Cash	$20,482	$12,404	'	'
Money market fund	110,798	113,599	'	'
Total cash and cash equivalents	$131,280	$126,003	$175,780	$181,231

Reconciliation_Between_Amortiz

Reconciliation Between Amortized Cost and Fair Value of Short-Term Investments (Detail) (US Treasury Securities, USD $)	Jun. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
US Treasury Securities	'	'
Schedule of Held-to-maturity Securities [Line Items]	'	'
Amortized cost	$149,929	$120,027
Gross unrecognized gains	33	12
Gross unrecognized losses	-1	-2
Fair value	$149,961	$120,037

Financial_Assets_Measured_at_F

Financial Assets Measured at Fair Value on Recurring Basis (Detail) (USD $)	Jun. 30, 2014		Dec. 31, 2013
In Thousands, unless otherwise specified
Money Market Funds	'		'
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]	'		'
Fair value of financial assets measured on recurring basis	$110,798		$113,599
US Treasury Securities	'		'
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]	'		'
Fair value of financial assets measured on recurring basis	149,961		120,037
Fair Value, Inputs, Level 1 | Money Market Funds	'		'
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]	'		'
Fair value of financial assets measured on recurring basis	110,798	[1]	113,599	[1]
Fair Value, Inputs, Level 1 | US Treasury Securities	'		'
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]	'		'
Fair value of financial assets measured on recurring basis	$149,961	[1]	$120,037	[1]
[1]	Level 1: Observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets.

Significant_Customer_Informati

Significant Customer Information (Detail)	6 Months Ended	12 Months Ended	3 Months Ended		6 Months Ended			12 Months Ended
	Jun. 30, 2014	Dec. 31, 2013	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Dec. 31, 2013
	JPMorgan	JPMorgan	JPMorgan	JPMorgan	JPMorgan	JPMorgan	ING	ING
	Accounts Receivable	Accounts Receivable	Revenue	Revenue	Revenue	Revenue	Accounts Receivable	Accounts Receivable
Concentration Risk [Line Items]	'	'	'	'	'	'	'	'
Percentage of significant customer	14.00%	14.00%	11.00%	12.00%	11.00%	12.00%	10.00%	11.00%

StockBased_Compensation_by_Fun

Stock-Based Compensation by Functional Area (Detail) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]	'	'	'	'
Total stock-based compensation	$5,070	$3,418	$9,850	$6,210
Cost of revenue	'	'	'	'
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]	'	'	'	'
Total stock-based compensation	674	354	1,258	636
Research and development	'	'	'	'
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]	'	'	'	'
Total stock-based compensation	1,128	764	2,248	1,404
Sales and marketing	'	'	'	'
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]	'	'	'	'
Total stock-based compensation	1,391	824	2,805	1,524
General and administrative	'	'	'	'
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]	'	'	'	'
Total stock-based compensation	1,782	1,366	3,357	2,431
Amortization of Internal Use Software	'	'	'	'
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]	'	'	'	'
Total stock-based compensation	$95	$110	$182	$215

Stockholders_Equity_Additional

Stockholders' Equity - Additional Information (Detail) (USD $)	3 Months Ended		6 Months Ended			0 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013	Dec. 31, 2013	Jul. 29, 2014
						Subsequent Event
Dividend yield rate	0.50%	'	'	'	'	'
Dividend declared per share of common stock outstanding	$0.06	$0.05	$0.12	$0.10	'	$0.06
Dividends to be paid date	'	'	'	'	'	6-Oct-14
Dividend payable record date	'	'	'	'	'	22-Sep-14
Dividend payable	$3,097	$2,475	$3,097	$2,475	$2,540	'
Dividends paid date	'2014-07	'	'2014-07	'	'	'

Computation_of_Basic_and_Dilut

Computation of Basic and Diluted Net Income Per Share (Detail) (USD $)	3 Months Ended		6 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Numerator (basic and diluted):	'	'	'	'
Net income	$10,054	$6,343	$17,871	$12,535
Denominator (basic):	'	'	'	'
Net weighted average common shares outstanding	51,523	49,201	51,313	48,744
Denominator (diluted):	'	'	'	'
Weighted average common shares outstanding	51,523	49,201	51,313	48,744
Net weighted average common shares outstanding (diluted)	53,275	52,086	53,270	51,766
Net income per share attributable to holders of common stock:	'	'	'	'
Basic	$0.20	$0.13	$0.35	$0.26
Diluted	$0.19	$0.12	$0.34	$0.24
Employee Stock Options	'	'	'	'
Denominator (diluted):	'	'	'	'
Incremental common shares included in the diluted EPS calculation	1,451	2,663	1,662	2,823
Restricted Stock Units (RSUs)	'	'	'	'
Denominator (diluted):	'	'	'	'
Incremental common shares included in the diluted EPS calculation	260	222	259	199
Performance Stock Units	'	'	'	'
Denominator (diluted):	'	'	'	'
Incremental common shares included in the diluted EPS calculation	41	'	36	'

Antidilutive_Common_Equivalent

Anti-dilutive Common Equivalent Shares (Detail)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]	'	'	'	'
Anti-dilutive common equivalent shares	723	315	517	435
Stock Options Outstanding	'	'	'	'
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]	'	'	'	'
Anti-dilutive common equivalent shares	665	243	488	399
Restricted Stock Units (RSUs)	'	'	'	'
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]	'	'	'	'
Anti-dilutive common equivalent shares	58	32	29	16
Performance Stock Units	'	'	'	'
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]	'	'	'	'
Anti-dilutive common equivalent shares	'	40	'	20

Income_Taxes_Additional_Inform

Income Taxes - Additional Information (Detail) (USD $)	3 Months Ended		6 Months Ended			6 Months Ended			12 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013	Dec. 31, 2013	Jun. 30, 2014	Jun. 30, 2014	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013
						Minimum	Maximum	Internal Revenue Service (IRS)	Internal Revenue Service (IRS)	State of California
									Maximum
Income Taxes [Line Items]	'	'	'	'	'	'	'	'	'	'
Income tax provision	$6,565,000	$3,475,000	$11,506,000	$6,791,000	'	'	'	'	'	'
Effective tax rate	'	'	39.00%	35.00%	'	'	'	'	'	'
Valuation allowance on deferred tax assets	'	'	'	'	'	'	'	'	'	300,000
Completed Federal Tax Examination	'	'	'	'	'	'2006	'2007	'	'	'
Income tax examination description	'	'	'As of June 30, 2014, there are no on-going tax audits in any significant tax jurisdictions.	'	'	'	'	'	'	'
Operating loss carryforwards	'	'	'	'	'	'	'	194,300,000	'	'
Operating loss carryforwards expiration date	'	'	'	'	'	'	'	'	31-Dec-33	'
Gross unrecognized tax benefits	'	'	'	'	$6,600,000	'	'	'	'	'

Commitments_and_Contingencies_

Commitments and Contingencies - Additional Information (Detail) (Boston Massachusetts, USD $)	6 Months Ended
In Millions, unless otherwise specified	Jun. 30, 2014
Boston Massachusetts	'
Commitments and Contingencies [Line Items]	'
New facility future minimum lease payments	$16.60
Lease expiration month and year	'2025-07
One-time lease extension option period	'5 years
Tenant improvement allowance	2.4
Receivable related to tenant improvement allowance	$0.20
Free lease rent period	'26 months
Lease termination month and year	'2015-01