Document and Entity Information
Document and Entity Information - shares | 3 Months Ended | |
Mar. 31, 2016 | Apr. 22, 2016 | |
Document And Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Mar. 31, 2016 | |
Document Fiscal Year Focus | 2,016 | |
Document Fiscal Period Focus | Q1 | |
Trading Symbol | DMRC | |
Entity Registrant Name | Digimarc CORP | |
Entity Central Index Key | 1,438,231 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Accelerated Filer | |
Entity Common Stock, Shares Outstanding | 9,080,541 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Current assets: | ||
Cash and cash equivalents | $ 8,066 | $ 3,160 |
Marketable securities | 25,784 | 33,027 |
Trade accounts receivable, net | 2,296 | 4,616 |
Other current assets | 1,396 | 1,487 |
Total current assets | 37,542 | 42,290 |
Marketable securities | 2,046 | 2,999 |
Property and equipment, net | 2,987 | 3,010 |
Intangibles, net | 6,563 | 6,613 |
Goodwill | 1,114 | 1,114 |
Other assets | 314 | 338 |
Total assets | 50,566 | 56,364 |
Current liabilities: | ||
Accounts payable and other accrued liabilities | 775 | 1,657 |
Deferred revenue | 2,609 | 3,023 |
Total current liabilities | 3,384 | 4,680 |
Deferred rent and other long-term liabilities | 219 | 226 |
Total liabilities | $ 3,603 | $ 4,906 |
Commitments and contingencies (Note 12) | ||
Shareholders' equity: | ||
Preferred stock (par value $0.001 per share, 2,500 authorized, 10 shares issued and outstanding at March 31, 2016 and December 31, 2015) | $ 50 | $ 50 |
Common stock (par value $0.001 per share, 50,000 authorized, 9,077 and 8,919 shares issued and outstanding at March 31, 2016 and December 31, 2015, respectively) | 9 | 9 |
Additional paid-in capital | 78,379 | 77,439 |
Accumulated deficit | (31,475) | (26,040) |
Total shareholders' equity | 46,963 | 51,458 |
Total liabilities and shareholders' equity | $ 50,566 | $ 56,364 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - $ / shares shares in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Statement of Financial Position [Abstract] | ||
Preferred stock, par value | $ 0.001 | $ 0.001 |
Preferred stock, shares authorized | 2,500 | 2,500 |
Preferred stock, shares issued | 10 | 10 |
Preferred stock, shares outstanding | 10 | 10 |
Common stock, par value | $ 0.001 | $ 0.001 |
Common stock, shares authorized | 50,000 | 50,000 |
Common stock, shares issued | 9,077 | 8,919 |
Common stock, shares outstanding | 9,077 | 8,919 |
Consolidated Statements of Oper
Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Revenue: | ||
Service | $ 3,250 | $ 3,501 |
Subscription | 1,463 | 1,716 |
License | 867 | 772 |
Total revenue | 5,580 | 5,989 |
Cost of revenue: | ||
Service | 1,432 | 1,578 |
Subscription | 662 | 754 |
License | 96 | 84 |
Total cost of revenue | 2,190 | 2,416 |
Gross profit | 3,390 | 3,573 |
Operating expenses: | ||
Sales and marketing | 2,955 | 2,090 |
Research, development and engineering | 3,305 | 3,084 |
General and administrative | 2,170 | 2,206 |
Intellectual property | 434 | 367 |
Total operating expenses | 8,864 | 7,747 |
Operating loss | (5,474) | (4,174) |
Other income, net | 46 | 23 |
Loss before income taxes | (5,428) | (4,151) |
(Provision) benefit for income taxes | (7) | 1 |
Net loss | $ (5,435) | $ (4,150) |
Earnings (loss) per common share: | ||
Loss per common share-basic | $ (0.64) | $ (0.52) |
Loss per common share-diluted | $ (0.64) | $ (0.52) |
Weighted average common shares outstanding-basic | 8,533 | 7,960 |
Weighted average common shares outstanding-diluted | 8,533 | 7,960 |
Consolidated Statements of Shar
Consolidated Statements of Shareholders' Equity - USD ($) shares in Thousands, $ in Thousands | Total | Preferred Stock [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Accumulated Deficit [Member] |
Balance at Dec. 31, 2014 | $ 52,174 | $ 50 | $ 8 | $ 60,222 | $ (8,106) |
Balance, shares at Dec. 31, 2014 | 10 | 8,427 | |||
Exercise of stock options | 874 | $ 1 | 873 | ||
Exercise of stock options, shares | 45 | ||||
Issuance of restricted common stock | 0 | $ 0 | $ 0 | 0 | 0 |
Issuance of restricted common stock, shares | 90 | ||||
Forfeiture of restricted common stock | 0 | 0 | $ 0 | 0 | 0 |
Forfeiture of restricted common stock, shares | (5) | ||||
Purchase and retirement of common stock | (496) | (496) | |||
Purchase and retirement of common stock, shares | (17) | ||||
Stock-based compensation | 1,254 | 1,254 | |||
Net loss | (4,150) | (4,150) | |||
Balance at Mar. 31, 2015 | 49,656 | $ 50 | $ 9 | 61,853 | (12,256) |
Balance, shares at Mar. 31, 2015 | 10 | 8,540 | |||
Balance at Dec. 31, 2015 | 51,458 | $ 50 | $ 9 | 77,439 | (26,040) |
Balance, shares at Dec. 31, 2015 | 10 | 8,919 | |||
Exercise of stock options | $ 145 | 145 | |||
Exercise of stock options, shares | 15 | 15 | |||
Issuance of restricted common stock | $ 0 | $ 0 | $ 0 | 0 | 0 |
Issuance of restricted common stock, shares | 162 | ||||
Forfeiture of restricted common stock | 0 | 0 | $ 0 | 0 | 0 |
Forfeiture of restricted common stock, shares | (1) | ||||
Purchase and retirement of common stock | (520) | (520) | |||
Purchase and retirement of common stock, shares | (18) | ||||
Stock-based compensation | 1,315 | 1,315 | |||
Net loss | (5,435) | (5,435) | |||
Balance at Mar. 31, 2016 | $ 46,963 | $ 50 | $ 9 | $ 78,379 | $ (31,475) |
Balance, shares at Mar. 31, 2016 | 10 | 9,077 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Cash flows from operating activities: | ||
Net loss | $ (5,435) | $ (4,150) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Depreciation, amortization and write-off of property and equipment | 339 | 328 |
Amortization and write-off of intangibles | 290 | 277 |
Changes in allowance for doubtful accounts | 10 | |
Stock-based compensation | 1,283 | 1,217 |
Changes in operating assets and liabilities: | ||
Trade accounts receivable | 2,320 | 915 |
Other current assets | 91 | 93 |
Other assets | 24 | 41 |
Accounts payable and other accrued liabilities | (663) | (99) |
Deferred revenue | (457) | (668) |
Net cash used in operating activities | (2,208) | (2,036) |
Net cash provided by investing activities | ||
Purchase of property and equipment | (490) | (125) |
Capitalized patent costs | (217) | (194) |
Maturity of marketable securities | 14,277 | 8,171 |
Purchase of marketable securities | (6,081) | (7,252) |
Net cash provided by investing activities | 7,489 | 600 |
Cash flows from financing activities: | ||
Exercise of stock options | 145 | 874 |
Purchase of common stock | (520) | (496) |
Net cash provided by (used in) financing activities | (375) | 378 |
Net increase (decrease) in cash and cash equivalents | 4,906 | (1,058) |
Cash and cash equivalents at beginning of period | 3,160 | 6,122 |
Cash and cash equivalents at end of period | 8,066 | 5,064 |
Supplemental disclosure of cash flow information: | ||
Cash paid for income taxes, net | 6 | 2 |
Supplemental schedule of non-cash investing activities: | ||
Property and equipment and patent costs in accounts payable | 30 | 140 |
Stock-based compensation capitalized to software and patent costs | $ 32 | $ 37 |
Description of Business and Sig
Description of Business and Significant Accounting Policies | 3 Months Ended |
Mar. 31, 2016 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Description of Business and Significant Accounting Policies | 1. Description of Business and Significant Accounting Policies Description of Business Digimarc Corporation (“Digimarc” or the “Company”), an Oregon corporation, enables governments and enterprises around the world to give digital identities to media and objects that computers can sense and recognize and to which they can react. The Company has developed the Digimarc Discover ® Interim Consolidated Financial Statements The Company has adhered to the accounting policies set forth in its Annual Report on Form 10-K for the year ended December 31, 2015 in preparing the accompanying interim consolidated financial statements. The accompanying interim consolidated financial statements have been prepared from the Company’s records without audit and, in management’s opinion, include all adjustments (consisting of only normal recurring adjustments) necessary to fairly reflect the financial condition and the results of operations for the periods presented. Certain information and note disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”) have been condensed or omitted in accordance with the rules and regulations of the Securities and Exchange Commission (“SEC”). These interim consolidated financial statements should be read in conjunction with the audited consolidated financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2015, which was filed with the SEC on February 25, 2016. The results of operations for the interim periods presented in these consolidated financial statements are not necessarily indicative of the results for the full year. Reclassifications Certain prior period amounts in the accompanying consolidated financial statements and notes thereto have been reclassified to conform to current period presentation. These reclassifications had no material effect on the results of operations or financial position for any period presented. Accounting Pronouncements Adopted In April 2015, the FASB issued ASU 2015-05, “ Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Fees Paid in a Cloud Computing Arrangement. Accounting Pronouncements Issued But Not Yet Adopted In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-09, “ Revenue from Contracts with Customers (Topic 606) In January 2016, the FASB issued ASU No. 2016-01, “ Financial Instruments-Overall, Recognition and Measurement of Financial Assets and Liabilities (Subtopic 825-10). In February 2016, the FASB issued ASU No. 2016-02, “ Leases (Topic 842) In March 2016, the FASB issued ASU No. 2016-09, “ Compensation – Stock Compensation: Improvements to Employee Share-Based Payment Accounting (Topic 718) |
Fair Value of Financial Instrum
Fair Value of Financial Instruments | 3 Months Ended |
Mar. 31, 2016 | |
Fair Value Disclosures [Abstract] | |
Fair Value of Financial Instruments | 2. Fair Value of Financial Instruments The estimated fair values of the Company’s financial instruments, which include cash equivalents, accounts receivable, accounts payable and other accrued liabilities approximate their carrying values due to the short-term nature of these instruments. The Company records marketable securities at amortized cost, which approximates fair value. The Company’s fair value hierarchy for its cash equivalents and marketable securities as of March 31, 2016 and December 31, 2015, respectively, was as follows: March 31, 2016 Level 1 Level 2 Level 3 Total Money market securities $ 2,255 $ — $ — $ 2,255 Federal agency notes — 10,242 — 10,242 U.S. treasuries — 7,555 — 7,555 Commercial paper — 7,497 — 7,497 Corporate notes — 4,891 — 4,891 Pre-refunded municipal bonds (1) — 1,836 — 1,836 Certificates of deposits — 381 — 381 Total $ 2,255 $ 32,402 $ — $ 34,657 December 31, 2015 Level 1 Level 2 Level 3 Total Money market securities $ 2,001 $ — $ — $ 2,001 Federal agency notes — 11,722 — 11,722 U.S. treasuries — 7,059 — 7,059 Corporate notes — 6,884 — 6,884 Pre-refunded municipal bonds (1) — 4,747 — 4,747 Commercial paper — 3,794 — 3,794 Certificates of deposits — 2,220 — 2,220 Total $ 2,001 $ 36,426 $ — $ 38,427 (1) Pre-refunded municipal bonds are collateralized by U.S. treasuries. The fair value maturities of the Company’s cash equivalents and marketable securities as of March 31, 2016 are as follows: Maturities by Period Total Less than 1-5 years 5-10 years More than Cash equivalents and marketable securities $ 34,657 $ 32,611 $ 2,046 $ — $ — The Company considers all highly liquid marketable securities with original maturities of 90 days or less at the date of acquisition to be cash equivalents. Cash equivalents include money market funds and certificates of deposit totaling $6,827 and $2,401 at March 31, 2016 and December 31, 2015, respectively. Cash equivalents are carried at cost or amortized cost, which approximates fair value. |
Revenue Recognition
Revenue Recognition | 3 Months Ended |
Mar. 31, 2016 | |
Text Block [Abstract] | |
Revenue Recognition | 3. Revenue Recognition The Company derives its revenue primarily from professional services, subscriptions and licensing of its intellectual property: • Service revenue consists primarily of software development and consulting services. The majority of service revenue arrangements are structured as time and materials consulting agreements. • Subscription revenue includes Digimarc Discover, Digimarc Barcode and Guardian products and services, is generally recurring, paid in advance and recognized over the term of the subscription. • License revenue originates primarily from licensing the Company’s intellectual property where the Company receives license fees and/or royalties as its income stream. Revenue is recognized in accordance with ASC 605 “ Revenue Recognition Software (i) persuasive evidence of an arrangement exists, (ii) delivery has occurred, (iii) the fee is fixed or determinable, and (iv) collection is reasonably assured or probable. Some customer arrangements encompass multiple deliverables, such as patent licenses, professional services, software licenses, and maintenance and support fees. For arrangements that include multiple deliverables, the Company identifies separate units of accounting at inception based on the consensus reached under ASC 605-25 “ Multiple-Element Arrangements The relative selling price method allocates the consideration based on the Company’s specific assumptions rather than assumptions of a marketplace participant, and any discount in the arrangement proportionally to each deliverable on the basis of each deliverable’s selling price. Applicable revenue recognition criteria are considered separately for each separate unit of accounting as follows: • Service revenue is generally determined based on time and materials. Revenue for development and consulting services is recognized as the services are performed. Billing for services rendered generally occurs within one month after the services are provided. • Subscription revenue, which includes revenue from the sale of Digimarc Discover, Digimarc Barcode and Guardian products and services, is generally paid in advance and recognized over the term of the subscription, which is generally one to three years. • License revenue is recognized when amounts owed to the Company have been earned, are fixed or determinable (within the Company’s normal 30 to 60 day payment terms), and collection is reasonably assured. If the payment terms extend beyond the normal 30 to 60 days, the fee may not be considered to be fixed or determinable, and the revenue would then be recognized when installments are due. • The Company records revenue from certain license agreements upon cash receipt as a result of collectability not being reasonably assured. • The Company’s standard payment terms for license arrangements are 30 to 60 days. Extended payment terms on patent license arrangements are not considered to be fixed or determinable if payments are due beyond the Company’s standard payment terms, primarily because of the risk of substantial modification present in the Company’s patent licensing business. As such, revenue on license arrangements with extended payment terms are recognized as fees become fixed or determinable. Deferred revenue consists of billings in advance for professional services, subscriptions and licenses for which revenue has not been earned. |
Segment Information
Segment Information | 3 Months Ended |
Mar. 31, 2016 | |
Segment Reporting [Abstract] | |
Segment Information | 4. Segment Information Geographic Information The Company derives its revenue from a single reporting segment: media management solutions. Revenue is generated in this segment through development services, subscriptions and licensing of intellectual property. The Company markets its products in the U.S. and in non-U.S. countries through its sales and licensing personnel. Revenue by geographic area, based upon the “bill-to” location, was as follows: Three Three Domestic $ 1,133 $ 1,687 International (1) 4,447 4,302 Total $ 5,580 $ 5,989 (1) Revenue from the Central Banks, consisting of a consortium of central banks around the world, is classified as international revenue. Reporting revenue by country for this customer is not practicable. Major Customers Customers who accounted for 10% or more of the Company’s revenue are as follows: Three Three Central Banks 63 % 59 % Long-lived assets by geographical area The Company’s long-lived assets are all domestic, domiciled in the U.S. |
Stock-Based Compensation
Stock-Based Compensation | 3 Months Ended |
Mar. 31, 2016 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Stock-Based Compensation | 5. Stock-Based Compensation Stock-based compensation includes expense charges for all stock-based awards to employees and directors. These awards include option grants and restricted stock awards. Stock-based compensation expense related to internal labor is capitalized to software and patents based on direct labor hours charged to capitalized software and patent costs. Determining Fair Value Stock Options The Company estimates the fair value of stock options granted using the Black-Scholes option pricing model. The fair value of stock options is determined on the date of the grant (measurement date), and is recognized over the vesting period of the option using the straight-line method. There were no stock options granted during the three-month periods ended March 31, 2016 and 2015. The Company records stock-based compensation expense for stock option awards only for those awards that are expected to vest. Restricted Stock The fair value of restricted stock awarded is based on the fair market value of the Company’s common stock on the date of the grant (measurement date), and is recognized over the vesting period of the award using the straight-line method. The Company records stock-based compensation expense for restricted stock awards only for those awards that are expected to vest. Stock-based Compensation Three Three Stock-based compensation: Cost of revenue $ 173 $ 185 Sales and marketing 212 159 Research, development and engineering 325 287 General and administrative 501 518 Intellectual property 72 68 Stock-based compensation expense 1,283 1,217 Capitalized to software and patent costs 32 37 Total stock-based compensation $ 1,315 $ 1,254 The following table sets forth total unrecognized compensation cost related to non-vested stock-based awards granted under all equity compensation plans, including stock options and restricted stock: As of As of Total unrecognized compensation costs $ 12,850 $ 9,549 Total unrecognized compensation costs will be adjusted for any future changes in estimated forfeitures. The Company expects to recognize the unrecognized compensation costs as of March 31, 2016 for stock options and restricted stock over weighted average periods through March 2020 as follows: Stock Restricted Weighted average period 0.0 years 1.51 years Stock Option Activity As of March 31, 2016, under all of the Company’s stock-based compensation plans, equity awards to purchase an additional 1,298 shares were authorized for future grants under the plans. The Company issues new shares upon option exercises. The following table reconciles the outstanding balance of stock options: Three-months ended March 31, 2016: Options Weighted Weighted Aggregate Outstanding at December 31, 2015 490 $ 17.73 $ 8.69 Granted — — — Exercised (15 ) 9.64 6.30 Forfeited or expired — — — Outstanding at March 31, 2016 475 $ 17.98 $ 8.76 $ 5,851 Exercisable at March 31, 2016 475 $ 17.98 $ 5,851 The aggregate intrinsic value is based on the closing price of $30.30 per share of Digimarc common stock on March 31, 2016, which would have been received by the optionees had all of the options with exercise prices less than $30.30 per share been exercised on that date. Restricted Stock Activity The following table reconciles the unvested balance of restricted stock: Three-months ended March 31, 2016: Number of Weighted Unvested balance, December 31, 2015 408 $ 24.30 Granted 162 $ 28.55 Vested (44 ) $ 24.85 Forfeited (1 ) $ 27.94 Unvested balance, March 31, 2016 525 $ 25.56 The following table indicates the fair value of all restricted stock awards that vested during the three-months ended March 31, 2016 and 2015: Three Months Ended Three Months Ended Fair value of restricted stock awards vested $ 1,278 $ 1,213 |
Earnings Per Common Share
Earnings Per Common Share | 3 Months Ended |
Mar. 31, 2016 | |
Earnings Per Share [Abstract] | |
Earnings Per Common Share | 6. Earnings Per Common Share The Company calculates basic and diluted earnings per common share in accordance with ASC 260 “ Earnings Per Share Basic earnings per common share excludes dilution and is calculated by dividing earnings to common shares by the weighted-average number of common shares outstanding for the period. Diluted earnings per common share is calculated by dividing earnings to common shares by the weighted-average number of common shares, as adjusted for the potentially dilutive effect of stock options. The following table reconciles earnings (loss) per common share for the three-months ended March 31, 2016 and 2015: Three Months 2016 Three Months 2015 Basic Earnings (Loss) per Common Share: Numerator: Net loss $ (5,435 ) $ (4,150 ) Distributed earnings to common shares — — Distributed earnings to participating securities — — Total distributed earnings — Undistributed loss allocable to common shares (5,435 ) (4,150 ) Undistributed earnings allocable to participating securities — — Total undistributed loss (5,435 ) (4,150 ) Loss to common shares—basic $ (5,435 ) $ (4,150 ) Denominator Weighted average common shares outstanding—basic 8,533 7,960 Basic loss per common share $ (0.64 ) $ (0.52 ) Three Months 2016 Three Months 2015 Diluted Earnings (Loss) per Common Share: Numerator: Loss to common shares—basic $ (5,435 ) $ (4,150 ) Undistributed earnings allocated to participating securities — — Undistributed earnings reallocated to participating securities — — Loss to common shares—diluted $ (5,435 ) $ (4,150 ) Denominator Weighted average common shares outstanding—basic 8,533 7,960 Dilutive effect of stock options — — Weighted average common shares outstanding—dilutive 8,533 7,960 Diluted loss per common share $ (0.64 ) $ (0.52 ) There were 0 and 175 common stock equivalents related to stock options that were anti-dilutive and excluded from diluted earnings per common share calculations for the three-months ended March 31, 2016 and 2015, respectively, because their exercise prices were higher than the average market price of the underlying common stock for the period. There were 207 and 212 common stock equivalents related to stock options that were anti-dilutive and excluded from diluted earnings per common share for the three-months ended March 31, 2016 and 2015, respectively, as the Company incurred a net loss for the period. |
Trade Accounts Receivable
Trade Accounts Receivable | 3 Months Ended |
Mar. 31, 2016 | |
Receivables [Abstract] | |
Trade Accounts Receivable | 7. Trade Accounts Receivable Trade Accounts Receivable Trade accounts receivable are recorded at the invoiced amount. March 31, December 31, Trade accounts receivable $ 2,311 $ 4,631 Allowance for doubtful accounts (15 ) (15 ) Trade accounts receivable, net $ 2,296 $ 4,616 Unpaid deferred revenue included in trade accounts receivable $ 579 $ 2,012 Allowance for doubtful accounts The allowance for doubtful accounts is the Company’s best estimate of the amount of probable credit losses in the Company’s existing trade accounts receivable. The Company determines the allowance based on historical write-off experience and current information. The Company reviews its allowance for doubtful accounts each reporting period. Account balances are charged against the allowance after all means of collection have been exhausted and the potential for recovery is considered remote. Unpaid deferred revenue The unpaid deferred revenue that is included in trade accounts receivable is billed in accordance with the provisions of the contracts with the Company’s customers. Unpaid deferred revenue from the Company’s cash-basis customers is not included in trade accounts receivable nor deferred revenue. Major customers Customers who accounted for 10% or more of trade accounts receivable, net are as follows: March 31, December 31, Central Banks 47 % 62 % |
Property and Equipment
Property and Equipment | 3 Months Ended |
Mar. 31, 2016 | |
Property, Plant and Equipment [Abstract] | |
Property and Equipment | 8. Property and Equipment Property and equipment are stated at cost. Repairs and maintenance are charged to expense when incurred. Depreciation on property and equipment is calculated using the straight-line method over the estimated useful lives of the assets, generally two to seven years. Leasehold improvements are amortized using the straight-line method over the shorter of the estimated useful life or the lease term. March 31, December 31, Office furniture and fixtures $ 1,098 $ 1,068 Software 1,767 1,748 Equipment 3,631 3,416 Leasehold improvements 1,324 1,276 Gross property and equipment 7,820 7,508 Less accumulated depreciation and amortization (4,833 ) (4,498 ) Property and equipment, net $ 2,987 $ 3,010 |
Intangibles
Intangibles | 3 Months Ended |
Mar. 31, 2016 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Intangibles | 9. Intangibles Intangible assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Amortization of capitalized patent costs associated with the application and award of patents in the U.S. and various other countries are capitalized and amortized on a straight-line basis over the term of the patents as determined at the award date, which varies depending on the pendency period of the application, generally approximating seventeen years. Amortization of intangible assets acquired is calculated using the straight-line method over the estimated useful lives of the assets. March 31, December 31, Capitalized patent costs $ 6,894 $ 6,779 Intangible assets acquired: Purchased patents and intellectual property 250 250 Existing technology 1,560 1,560 Customer relationships 290 290 Backlog 760 760 Tradenames 290 290 Non-solicitation agreements 120 120 Gross intangible assets 10,164 10,049 Accumulated amortization (3,601 ) (3,436 ) Intangibles, net $ 6,563 $ 6,613 |
Joint Ventures and Related Part
Joint Ventures and Related Party Transactions | 3 Months Ended |
Mar. 31, 2016 | |
Related Party Transactions [Abstract] | |
Joint Ventures and Related Party Transactions | 10. Joint Ventures and Related Party Transactions In March 2012, Digimarc and Nielsen decided to reduce the investments in their two joint ventures, TVaura LLC (in which Digimarc holds a 51% ownership interest) and TVaura Mobile LLC (in which Digimarc holds a 49% ownership interest), to minimal levels while assessing alternative approaches to achieving each of their goals in the emerging market opportunity of synchronized second screen television. In October 2015, Digimarc and Nielsen reactivated the TVaura Mobile LLC joint venture to allow it to provide solutions to programmers and advertisers for engaging with consumers on second screens and otherwise provide enhanced flexibility to brand strategies targeting modern consumers. The enhanced cooperation represents another building block in developing the market for Digimarc Discover and Digimarc Barcode. Neither Digimarc nor Nielsen contributed any capital to the joint venture upon reactivation. As of March 31, 2016, both Digimarc and Nielsen continued to assess the market opportunities of TVaura LLC joint venture. Summarized financial information for the joint ventures has not been provided because the disclosures are immaterial to the Company’s filing. TVaura LLC and TVaura Mobile LLC had no revenue or expenses for the three-months ended March 31, 2016 and 2015. The Company’s investment in each joint venture was $0 as of March 31, 2016 and December 31, 2015. |
Income Taxes
Income Taxes | 3 Months Ended |
Mar. 31, 2016 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | 11. Income Taxes The (provision) benefit for income taxes for the three-months ended March 31, 2016 and 2015 reflects current taxes, deferred taxes, and withholding taxes in certain foreign jurisdictions. The effective tax rate for the three-months ended March 31, 2016 and 2015 was 0% and 0%, respectively. The valuation allowance against net deferred tax assets as of March 31, 2016 was $17,682, an increase of $2,262 from $15,420 as of December 31, 2015. |
Commitments and Contingencies
Commitments and Contingencies | 3 Months Ended |
Mar. 31, 2016 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | 12. Commitments and Contingencies Certain of the Company’s product license and services agreements include an indemnification provision for claims from third parties relating to the Company’s intellectual property. These indemnification provisions are accounted for in accordance with ASC 450 “ Contingencies.” The Company is subject from time to time to other legal proceedings and claims arising in the ordinary course of business. |
Description of Business and S19
Description of Business and Significant Accounting Policies (Policies) | 3 Months Ended |
Mar. 31, 2016 | |
Commitments and Contingencies Disclosure [Abstract] | |
Description of Business | Description of Business Digimarc Corporation (“Digimarc” or the “Company”), an Oregon corporation, enables governments and enterprises around the world to give digital identities to media and objects that computers can sense and recognize and to which they can react. The Company has developed the Digimarc Discover ® |
Interim Consolidated Financial Statements | Interim Consolidated Financial Statements The Company has adhered to the accounting policies set forth in its Annual Report on Form 10-K for the year ended December 31, 2015 in preparing the accompanying interim consolidated financial statements. The accompanying interim consolidated financial statements have been prepared from the Company’s records without audit and, in management’s opinion, include all adjustments (consisting of only normal recurring adjustments) necessary to fairly reflect the financial condition and the results of operations for the periods presented. Certain information and note disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”) have been condensed or omitted in accordance with the rules and regulations of the Securities and Exchange Commission (“SEC”). These interim consolidated financial statements should be read in conjunction with the audited consolidated financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2015, which was filed with the SEC on February 25, 2016. The results of operations for the interim periods presented in these consolidated financial statements are not necessarily indicative of the results for the full year. |
Reclassifications | Reclassifications Certain prior period amounts in the accompanying consolidated financial statements and notes thereto have been reclassified to conform to current period presentation. These reclassifications had no material effect on the results of operations or financial position for any period presented. |
Accounting Pronouncements | Accounting Pronouncements Adopted In April 2015, the FASB issued ASU 2015-05, “ Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Fees Paid in a Cloud Computing Arrangement. Accounting Pronouncements Issued But Not Yet Adopted In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-09, “ Revenue from Contracts with Customers (Topic 606) In January 2016, the FASB issued ASU No. 2016-01, “ Financial Instruments-Overall, Recognition and Measurement of Financial Assets and Liabilities (Subtopic 825-10). In February 2016, the FASB issued ASU No. 2016-02, “ Leases (Topic 842) In March 2016, the FASB issued ASU No. 2016-09, “ Compensation – Stock Compensation: Improvements to Employee Share-Based Payment Accounting (Topic 718) |
Earnings Per Share | The Company calculates basic and diluted earnings per common share in accordance with ASC 260 “ Earnings Per Share |
Contingencies | Certain of the Company’s product license and services agreements include an indemnification provision for claims from third parties relating to the Company’s intellectual property. These indemnification provisions are accounted for in accordance with ASC 450 “ Contingencies.” |
Fair Value of Financial Instr20
Fair Value of Financial Instruments (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Fair Value Disclosures [Abstract] | |
Summary of Fair Value Hierarchy for Financial Assets | The Company’s fair value hierarchy for its cash equivalents and marketable securities as of March 31, 2016 and December 31, 2015, respectively, was as follows: March 31, 2016 Level 1 Level 2 Level 3 Total Money market securities $ 2,255 $ — $ — $ 2,255 Federal agency notes — 10,242 — 10,242 U.S. treasuries — 7,555 — 7,555 Commercial paper — 7,497 — 7,497 Corporate notes — 4,891 — 4,891 Pre-refunded municipal bonds (1) — 1,836 — 1,836 Certificates of deposits — 381 — 381 Total $ 2,255 $ 32,402 $ — $ 34,657 December 31, 2015 Level 1 Level 2 Level 3 Total Money market securities $ 2,001 $ — $ — $ 2,001 Federal agency notes — 11,722 — 11,722 U.S. treasuries — 7,059 — 7,059 Corporate notes — 6,884 — 6,884 Pre-refunded municipal bonds (1) — 4,747 — 4,747 Commercial paper — 3,794 — 3,794 Certificates of deposits — 2,220 — 2,220 Total $ 2,001 $ 36,426 $ — $ 38,427 (1) Pre-refunded municipal bonds are collateralized by U.S. treasuries. |
Summary of Fair Value Maturities for Financial Asset | The fair value maturities of the Company’s cash equivalents and marketable securities as of March 31, 2016 are as follows: Maturities by Period Total Less than 1-5 years 5-10 years More than Cash equivalents and marketable securities $ 34,657 $ 32,611 $ 2,046 $ — $ — |
Segment Information (Tables)
Segment Information (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Segment Reporting [Abstract] | |
Geographical Segment Revenue | Revenue by geographic area, based upon the “bill-to” location, was as follows: Three Three Domestic $ 1,133 $ 1,687 International (1) 4,447 4,302 Total $ 5,580 $ 5,989 (1) Revenue from the Central Banks, consisting of a consortium of central banks around the world, is classified as international revenue. Reporting revenue by country for this customer is not practicable. |
Customers Who Accounted for 10% or More of Company's Revenue | Customers who accounted for 10% or more of the Company’s revenue are as follows: Three Three Central Banks 63 % 59 % |
Stock-Based Compensation (Table
Stock-Based Compensation (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Allocation of Stock-Based Compensation | Stock-based Compensation Three Three Stock-based compensation: Cost of revenue $ 173 $ 185 Sales and marketing 212 159 Research, development and engineering 325 287 General and administrative 501 518 Intellectual property 72 68 Stock-based compensation expense 1,283 1,217 Capitalized to software and patent costs 32 37 Total stock-based compensation $ 1,315 $ 1,254 |
Unrecognized Compensation Cost Related to Non-Vested Stock-Based Awards Granted | The following table sets forth total unrecognized compensation cost related to non-vested stock-based awards granted under all equity compensation plans, including stock options and restricted stock: As of As of Total unrecognized compensation costs $ 12,850 $ 9,549 |
Weighted Average Period for Recognition of Unrecognized Compensation Cost for Stock Options and Restricted Stock | The Company expects to recognize the unrecognized compensation costs as of March 31, 2016 for stock options and restricted stock over weighted average periods through March 2020 as follows: Stock Restricted Weighted average period 0.0 years 1.51 years |
Reconciliation of Outstanding Balance of Stock Options | The following table reconciles the outstanding balance of stock options: Three-months ended March 31, 2016: Options Weighted Weighted Aggregate Outstanding at December 31, 2015 490 $ 17.73 $ 8.69 Granted — — — Exercised (15 ) 9.64 6.30 Forfeited or expired — — — Outstanding at March 31, 2016 475 $ 17.98 $ 8.76 $ 5,851 Exercisable at March 31, 2016 475 $ 17.98 $ 5,851 |
Reconciliation of Unvested Balance of Restricted Stock | The following table reconciles the unvested balance of restricted stock: Three-months ended March 31, 2016: Number of Weighted Unvested balance, December 31, 2015 408 $ 24.30 Granted 162 $ 28.55 Vested (44 ) $ 24.85 Forfeited (1 ) $ 27.94 Unvested balance, March 31, 2016 525 $ 25.56 |
Fair Value of Restricted Stock Awards Vested | The following table indicates the fair value of all restricted stock awards that vested during the three-months ended March 31, 2016 and 2015: Three Months Ended Three Months Ended Fair value of restricted stock awards vested $ 1,278 $ 1,213 |
Earnings Per Common Share (Tabl
Earnings Per Common Share (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Earnings Per Share [Abstract] | |
Summary of Reconciliation of Earnings (Loss) Per Common Share | The following table reconciles earnings (loss) per common share for the three-months ended March 31, 2016 and 2015: Three Months 2016 Three Months 2015 Basic Earnings (Loss) per Common Share: Numerator: Net loss $ (5,435 ) $ (4,150 ) Distributed earnings to common shares — — Distributed earnings to participating securities — — Total distributed earnings — Undistributed loss allocable to common shares (5,435 ) (4,150 ) Undistributed earnings allocable to participating securities — — Total undistributed loss (5,435 ) (4,150 ) Loss to common shares—basic $ (5,435 ) $ (4,150 ) Denominator Weighted average common shares outstanding—basic 8,533 7,960 Basic loss per common share $ (0.64 ) $ (0.52 ) Three Months 2016 Three Months 2015 Diluted Earnings (Loss) per Common Share: Numerator: Loss to common shares—basic $ (5,435 ) $ (4,150 ) Undistributed earnings allocated to participating securities — — Undistributed earnings reallocated to participating securities — — Loss to common shares—diluted $ (5,435 ) $ (4,150 ) Denominator Weighted average common shares outstanding—basic 8,533 7,960 Dilutive effect of stock options — — Weighted average common shares outstanding—dilutive 8,533 7,960 Diluted loss per common share $ (0.64 ) $ (0.52 ) |
Trade Accounts Receivable (Tabl
Trade Accounts Receivable (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Receivables [Abstract] | |
Summary of Trade Accounts Receivable | Trade accounts receivable are recorded at the invoiced amount. March 31, December 31, Trade accounts receivable $ 2,311 $ 4,631 Allowance for doubtful accounts (15 ) (15 ) Trade accounts receivable, net $ 2,296 $ 4,616 Unpaid deferred revenue included in trade accounts receivable $ 579 $ 2,012 |
Customers Who Accounted for 10% or More of Trade Accounts Receivable, Net | Customers who accounted for 10% or more of trade accounts receivable, net are as follows: March 31, December 31, Central Banks 47 % 62 % |
Property and Equipment (Tables)
Property and Equipment (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Property, Plant and Equipment [Abstract] | |
Depreciation and Amortization on Property and Equipment Using the Straight-Line Method | Depreciation on property and equipment is calculated using the straight-line method over the estimated useful lives of the assets, generally two to seven years. Leasehold improvements are amortized using the straight-line method over the shorter of the estimated useful life or the lease term. March 31, December 31, Office furniture and fixtures $ 1,098 $ 1,068 Software 1,767 1,748 Equipment 3,631 3,416 Leasehold improvements 1,324 1,276 Gross property and equipment 7,820 7,508 Less accumulated depreciation and amortization (4,833 ) (4,498 ) Property and equipment, net $ 2,987 $ 3,010 |
Intangibles (Tables)
Intangibles (Tables) | 3 Months Ended |
Mar. 31, 2016 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Amortization of Intangible Assets Acquired | Amortization of intangible assets acquired is calculated using the straight-line method over the estimated useful lives of the assets. March 31, December 31, Capitalized patent costs $ 6,894 $ 6,779 Intangible assets acquired: Purchased patents and intellectual property 250 250 Existing technology 1,560 1,560 Customer relationships 290 290 Backlog 760 760 Tradenames 290 290 Non-solicitation agreements 120 120 Gross intangible assets 10,164 10,049 Accumulated amortization (3,601 ) (3,436 ) Intangibles, net $ 6,563 $ 6,613 |
Fair Value of Financial Instr27
Fair Value of Financial Instruments - Summary of Fair Value Hierarchy for Financial Assets (Detail) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total | $ 34,657 | |
Fair Value, Measurements, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total | 34,657 | $ 38,427 |
Fair Value, Measurements, Recurring [Member] | Pre-refunded Municipal Bonds [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total | 1,836 | 4,747 |
Fair Value, Measurements, Recurring [Member] | Money Market Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total | 2,255 | 2,001 |
Fair Value, Measurements, Recurring [Member] | Federal Agency Notes [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total | 10,242 | 11,722 |
Fair Value, Measurements, Recurring [Member] | U.S. Treasuries [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total | 7,555 | 7,059 |
Fair Value, Measurements, Recurring [Member] | Commercial Paper [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total | 7,497 | 3,794 |
Fair Value, Measurements, Recurring [Member] | Corporate Notes [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total | 4,891 | 6,884 |
Fair Value, Measurements, Recurring [Member] | Certificates of Deposits [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total | 381 | 2,220 |
Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total | 2,255 | 2,001 |
Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | Money Market Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total | 2,255 | 2,001 |
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total | 32,402 | 36,426 |
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Pre-refunded Municipal Bonds [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total | 1,836 | 4,747 |
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Federal Agency Notes [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total | 10,242 | 11,722 |
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | U.S. Treasuries [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total | 7,555 | 7,059 |
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Commercial Paper [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total | 7,497 | 3,794 |
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Corporate Notes [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total | 4,891 | 6,884 |
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Certificates of Deposits [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total | $ 381 | $ 2,220 |
Fair Value of Financial Instr28
Fair Value of Financial Instruments - Summary of Fair Value Maturities for Financial Asset (Detail) $ in Thousands | Mar. 31, 2016USD ($) |
Fair Value Disclosures [Abstract] | |
Maturities, Total | $ 34,657 |
Maturities, Less than 1 year | 32,611 |
Maturities, 1-5 years | 2,046 |
Maturities, 5-10 years | 0 |
Maturities, More than 10 years | $ 0 |
Fair Value of Financial Instr29
Fair Value of Financial Instruments - Additional Information (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2016 | Dec. 31, 2015 | |
Fair Value Disclosures [Abstract] | ||
Highly liquid marketable securities with original maturities | 90 days or less | |
Cash equivalents include money market funds and certificates of deposit | $ 6,827 | $ 2,401 |
Revenue Recognition - Additiona
Revenue Recognition - Additional Information (Detail) | 3 Months Ended |
Mar. 31, 2016 | |
Revenue Recognition [Abstract] | |
Period of revenue from services | 1 month |
Subscription revenue term, minimum | 1 year |
Subscription revenue term, maximum | 3 years |
License revenue recognized payment terms, maximum | 60 days |
License revenue recognized payment terms, minimum | 30 days |
Segment Information - Additiona
Segment Information - Additional Information (Detail) | 3 Months Ended |
Mar. 31, 2016Segment | |
Revenue, Major Customer [Line Items] | |
Number of reporting segment | 1 |
Sales [Member] | Minimum [Member] | Customer Concentration Risk [Member] | |
Revenue, Major Customer [Line Items] | |
Revenue from segment | 10.00% |
Segment Information - Geographi
Segment Information - Geographical Segment Revenue (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Revenues from External Customers and Long-Lived Assets [Line Items] | ||
Total | $ 5,580 | $ 5,989 |
Domestic [Member] | ||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||
Total | 1,133 | 1,687 |
International [Member] | ||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||
Total | $ 4,447 | $ 4,302 |
Segment Information - Customers
Segment Information - Customers Who Accounted for 10% or More of Company's Revenue (Detail) | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Customer Concentration Risk [Member] | Sales [Member] | Central Banks [Member] | ||
Revenue, Major Customer [Line Items] | ||
Entity wide revenue major customers percentage | 63.00% | 59.00% |
Stock-Based Compensation - Addi
Stock-Based Compensation - Additional Information (Detail) - $ / shares | 3 Months Ended | ||
Mar. 31, 2016 | Mar. 31, 2015 | Dec. 31, 2015 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Stock options granted | 0 | 0 | |
Options with exercise prices less than per share | $ 17.98 | $ 17.73 | |
Stock Options [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Stock-based compensation plans, shares authorized for future grants | 1,298,000 | ||
Closing price of per share of Digimarc common stock | $ 30.30 | ||
Options with exercise prices less than per share | $ 30.30 |
Stock-Based Compensation - Allo
Stock-Based Compensation - Allocation of Stock-Based Compensation (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ||
Stock-based compensation expense | $ 1,283 | $ 1,217 |
Capitalized to software and patent costs | 32 | 37 |
Total stock-based compensation | 1,315 | 1,254 |
Cost of Revenue [Member] | ||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ||
Stock-based compensation expense | 173 | 185 |
Sales and Marketing [Member] | ||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ||
Stock-based compensation expense | 212 | 159 |
Research, Development and Engineering [Member] | ||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ||
Stock-based compensation expense | 325 | 287 |
General and Administrative [Member] | ||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ||
Stock-based compensation expense | 501 | 518 |
Intellectual Property [Member] | ||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ||
Stock-based compensation expense | $ 72 | $ 68 |
Stock-Based Compensation - Unre
Stock-Based Compensation - Unrecognized Compensation Cost Related to Non-Vested Stock-Based Awards Granted (Detail) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ||
Total unrecognized compensation costs | $ 12,850 | $ 9,549 |
Stock-Based Compensation - Weig
Stock-Based Compensation - Weighted Average Period for Recognition of Unrecognized Compensation Cost for Stock Options and Restricted Stock (Detail) | 3 Months Ended |
Mar. 31, 2016 | |
Stock Options [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Weighted average period | 0 years |
Restricted Stock [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Weighted average period | 1 year 6 months 4 days |
Stock-Based Compensation - Reco
Stock-Based Compensation - Reconciliation of Outstanding Balance of Stock Options (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ||
Outstanding at beginning | 490 | |
Granted | 0 | 0 |
Exercised | (15) | |
Forfeited or expired | 0 | |
Outstanding at ending | 475 | |
Exercisable at ending | 475 | |
Weighted Average Exercise Price at beginning | $ 17.73 | |
Weighted Average Exercise Price, Granted | 0 | |
Weighted Average Exercise Price, Exercised | 9.64 | |
Weighted Average Exercise Price, Forfeited or expired | 0 | |
Weighted Average Exercise Price at ending | 17.98 | |
Weighted Average Exercise Price, Exercisable at ending | 17.98 | |
Weighted Average Grant Date Fair Value at beginning | 8.69 | |
Weighted Average Grant Date Fair Value, Granted | 0 | |
Weighted Average Grant Date Fair Value, Exercised | 6.30 | |
Weighted Average Grant Date Fair Value, Forfeited or expired | 0 | |
Weighted Average Grant Date Fair Value at ending | 8.76 | |
Weighted Average Grant Date Fair Value, Exercisable at ending | $ 0 | |
Aggregate Intrinsic Value Outstanding at ending | $ 5,851 | |
Aggregate Intrinsic Value, Exercisable at ending | $ 5,851 |
Stock-Based Compensation - Re39
Stock-Based Compensation - Reconciliation of Unvested Balance of Restricted Stock (Detail) - Restricted Stock [Member] shares in Thousands | 3 Months Ended |
Mar. 31, 2016$ / sharesshares | |
Number of Shares | |
Unvested, beginning balance | shares | 408 |
Granted | shares | 162 |
Vested | shares | (44) |
Forfeited | shares | (1) |
Unvested, ending balance | shares | 525 |
Weighted Average Grant Date Fair Value | |
Unvested, beginning balance | $ / shares | $ 24.30 |
Granted | $ / shares | 28.55 |
Vested | $ / shares | 24.85 |
Forfeited | $ / shares | 27.94 |
Unvested, ending balance | $ / shares | $ 25.56 |
Stock-Based Compensation - Fair
Stock-Based Compensation - Fair Value of Restricted Stock Awards Vested (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Restricted Stock [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Fair value of restricted stock awards vested | $ 1,278 | $ 1,213 |
Earnings Per Common Share - Sum
Earnings Per Common Share - Summary of Reconciliation of Earnings (Loss) Per Common Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Basic Earnings (Loss) per Common Share: | ||
Net loss | $ (5,435) | $ (4,150) |
Distributed earnings to common shares | 0 | 0 |
Distributed earnings to participating securities | 0 | 0 |
Total distributed earnings | 0 | 0 |
Undistributed loss allocable to common shares | (5,435) | (4,150) |
Undistributed earnings allocable to participating securities | 0 | 0 |
Total undistributed loss | (5,435) | (4,150) |
Loss to common shares-basic | $ (5,435) | $ (4,150) |
Weighted average common shares outstanding-basic | 8,533 | 7,960 |
Basic loss per common share | $ (0.64) | $ (0.52) |
Diluted Earnings (Loss) per Common Share: | ||
Loss to common shares-basic | $ (5,435) | $ (4,150) |
Undistributed earnings allocated to participating securities | 0 | 0 |
Undistributed earnings reallocated to participating securities | 0 | 0 |
Loss to common shares-diluted | $ (5,435) | $ (4,150) |
Weighted average common shares outstanding-basic | 8,533 | 7,960 |
Dilutive effect of stock options | 0 | 0 |
Weighted average common shares outstanding-dilutive | 8,533 | 7,960 |
Diluted loss per common share | $ (0.64) | $ (0.52) |
Earnings Per Common Share - Add
Earnings Per Common Share - Additional Information (Detail) - shares | 3 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Common stock equivalents related to stock options that were anti-dilutive and excluded from diluted net income per share | 207,000 | 212,000 |
Higher Than Average Market Price [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Common stock equivalents related to stock options that were anti-dilutive and excluded from diluted net income per share | 0 | 175,000 |
Trade Accounts Receivable - Sum
Trade Accounts Receivable - Summary of Trade Accounts Receivable (Detail) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Accounts Receivable, Net, Current [Abstract] | ||
Trade accounts receivable | $ 2,311 | $ 4,631 |
Allowance for doubtful accounts | (15) | (15) |
Trade accounts receivable, net | 2,296 | 4,616 |
Unpaid deferred revenue included in trade accounts receivable | $ 579 | $ 2,012 |
Trade Accounts Receivable - Add
Trade Accounts Receivable - Additional Information (Detail) | 3 Months Ended |
Mar. 31, 2016 | |
Accounts Receivable [Member] | Minimum [Member] | Credit Concentration Risk [Member] | |
Concentration Risk [Line Items] | |
Percentage of trade accounts receivable of major customers | 10.00% |
Trade Accounts Receivable - Cus
Trade Accounts Receivable - Customers Who Accounted for 10% or More of Trade Accounts Receivable, Net (Detail) | Mar. 31, 2016 | Dec. 31, 2015 |
Accounts Receivable [Member] | Credit Concentration Risk [Member] | Central Banks [Member] | ||
Concentration Risk [Line Items] | ||
Percentage of trade accounts receivable of major customers | 47.00% | 62.00% |
Property and Equipment - Additi
Property and Equipment - Additional Information (Detail) | 3 Months Ended |
Mar. 31, 2016 | |
Minimum [Member] | |
Property, Plant and Equipment [Line Items] | |
Estimated useful lives of the assets | 2 years |
Maximum [Member] | |
Property, Plant and Equipment [Line Items] | |
Estimated useful lives of the assets | 7 years |
Property and Equipment - Deprec
Property and Equipment - Depreciation and Amortization on Property and Equipment Using the Straight-Line Method (Detail) - USD ($) $ in Thousands | Mar. 31, 2016 | Dec. 31, 2015 |
Property, Plant and Equipment [Abstract] | ||
Office furniture and fixtures | $ 1,098 | $ 1,068 |
Software | 1,767 | 1,748 |
Equipment | 3,631 | 3,416 |
Leasehold improvements | 1,324 | 1,276 |
Gross property and equipment | 7,820 | 7,508 |
Less accumulated depreciation and amortization | (4,833) | (4,498) |
Property and equipment, net | $ 2,987 | $ 3,010 |
Intangibles - Additional Inform
Intangibles - Additional Information (Detail) | 3 Months Ended |
Mar. 31, 2016 | |
Capitalized Patent Costs [Member] | |
Finite-Lived Intangible Assets [Line Items] | |
Estimated useful life | 17 years |
Intangibles - Amortization of I
Intangibles - Amortization of Intangible Assets Acquired (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2016 | Dec. 31, 2015 | |
Finite-Lived Intangible Assets [Line Items] | ||
Capitalized patent costs | $ 6,894 | $ 6,779 |
Intangible assets acquired: | ||
Gross intangible assets | 10,164 | 10,049 |
Accumulated amortization | (3,601) | (3,436) |
Intangibles, net | 6,563 | 6,613 |
Purchased Patents and Intellectual Property [Member] | ||
Intangible assets acquired: | ||
Intangible assets amount | 250 | 250 |
Existing Technology [Member] | ||
Intangible assets acquired: | ||
Intangible assets amount | 1,560 | 1,560 |
Customer Relationships [Member] | ||
Intangible assets acquired: | ||
Intangible assets amount | 290 | 290 |
Backlog [Member] | ||
Intangible assets acquired: | ||
Intangible assets amount | 760 | 760 |
Tradenames [Member] | ||
Intangible assets acquired: | ||
Intangible assets amount | 290 | 290 |
Non-solicitation Agreements [Member] | ||
Intangible assets acquired: | ||
Intangible assets amount | $ 120 | $ 120 |
Joint Ventures and Related Pa50
Joint Ventures and Related Party Transactions - Additional Information (Detail) $ in Thousands | 1 Months Ended | ||
Mar. 31, 2012JointVenture | Mar. 31, 2016USD ($) | Dec. 31, 2015USD ($) | |
Related Party Transaction [Line Items] | |||
Number of joint venture agreements | JointVenture | 2 | ||
TVaura LLC [Member] | |||
Related Party Transaction [Line Items] | |||
Equity method investment, ownership percentage | 51.00% | ||
Investment in joint venture | $ 0 | $ 0 | |
TVaura Mobile LLC [Member] | |||
Related Party Transaction [Line Items] | |||
Equity method investment, ownership percentage | 49.00% | ||
Investment in joint venture | $ 0 | $ 0 |
Income Taxes - Additional Infor
Income Taxes - Additional Information (Detail) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2016 | Mar. 31, 2015 | Dec. 31, 2015 | |
Income Tax Disclosure [Abstract] | |||
Deferred tax assets, valuation allowance | $ 17,682 | $ 15,420 | |
Effective tax rate | 0.00% | 0.00% | |
Change in valuation allowance | $ 2,262 |