Tubemogul (TUBE) 10-Q 10 May 16 2016 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2016	Apr. 29, 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	TUBE
Entity Registrant Name	TUBEMOGUL INC
Entity Central Index Key	1,449,278
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		35,759,820

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Current assets:
Cash and cash equivalents	$ 83,758	$ 83,439
Accounts receivable, net	147,628	159,899
Prepaid expenses and other current assets	5,123	3,752
Total current assets	236,509	247,090
Property, equipment and software, net	10,646	8,585
Restricted cash	1,563	1,563
Other assets	1,614	1,495
Total assets	250,332	258,733
Current liabilities:
Accounts payable	45,140	47,346
Accrued liabilities	66,432	74,927
Revolving line of credit	6,050	2,050
Other current liabilities	2,429	1,701
Total current liabilities	120,051	126,024
Other liabilities	951	746
Note payable, net of current portion	2,140	1,787
Total liabilities	$ 123,142	$ 128,557
Commitments and contingencies (Note 5)
Stockholders’ equity:
Preferred stock; $0.001 par value; 10,000 shares authorized and 0 outstanding as of March 31, 2016 and December 31, 2015, respectively
Common stock; $0.001 par value; 200,000 shares authorized and 35,694 and 35,344 shares issued and outstanding as of March 31, 2016 and December 31, 2015, respectively	$ 35	$ 35
Additional paid-in capital	172,670	167,316
Accumulated deficit	(45,272)	(37,016)
Accumulated other comprehensive loss	(243)	(159)
Total stockholders’ equity	127,190	130,176
Total liabilities and stockholders’ equity	$ 250,332	$ 258,733

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Mar. 31, 2016	Dec. 31, 2015
Statement Of Financial Position [Abstract]
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	200,000,000	200,000,000
Common stock, shares issued	35,694,000	35,694,000
Common stock, shares outstanding	35,344,000	35,344,000

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Revenue:
Total revenue	$ 42,080	$ 30,316
Cost of revenue	11,669	8,303
Gross profit	30,411	22,013
Operating expenses:
Research and development	12,566	8,769
Sales and marketing	16,188	11,112
General and administrative	10,276	7,827
Total operating expenses	39,030	27,708
Loss from operations	(8,619)	(5,695)
Other income (expense), net:
Interest income (expense), net	13	(28)
Foreign exchange gain (loss), net	544	(1,307)
Other income (expense), net	557	(1,335)
Net loss before income taxes	(8,062)	(7,030)
Provision for income taxes	(194)	(114)
Net loss	$ (8,256)	$ (7,144)
Basic and diluted net loss per share	$ (0.23)	$ (0.24)
Basic and diluted weighted-average shares used to compute net loss per share	35,516	30,026
Platform Direct
Revenue:
Total revenue	$ 20,671	$ 14,304
Platform Services
Revenue:
Total revenue	$ 21,409	$ 16,012

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Comprehensive Loss (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Statement Of Income And Comprehensive Income [Abstract]
Net loss	$ (8,256)	$ (7,144)
Other comprehensive loss:
Foreign currency translation adjustments	(84)	(93)
Comprehensive loss	$ (8,340)	$ (7,237)

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Cash flows from operating activities:
Net loss	$ (8,256)	$ (7,144)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	849	412
Provision for doubtful accounts	(251)	79
Provision for sales allowances	428	558
Stock-based compensation expense	4,059	2,401
Changes in operating assets and liabilities:
Accounts receivable	12,094	1,273
Prepaid expenses and other current assets	(1,371)	(406)
Other assets	(119)	(45)
Accounts payable	(1,269)	4,605
Accrued liabilities	(8,495)	(11,671)
Other current and noncurrent liabilities	661	592
Net cash used in operating activities	(1,670)	(9,346)
Cash flows from investing activities:
Purchases of property, equipment and software	(3,847)	(843)
Net cash used in investing activities	(3,847)	(843)
Cash flows from financing activities:
Proceeds from term loan	840
Repayment of note payable and convertible note	(215)	(366)
Proceeds from revolving line of credit	4,000
Proceeds from issuances of common stock from the exercise of options and ESPP	1,295	911
Net cash provided by financing activities	5,920	545
Effect of exchange rate changes on cash and cash equivalents	(84)	(93)
Net increase (decrease) in cash and cash equivalents	319	(9,737)
Cash and cash equivalents, beginning of period	83,439	46,592
Cash and cash equivalents, end of period	83,758	36,855
Supplemental disclosures:
Equipment purchases included in accounts payable	278	177
Cash paid for income taxes	$ 236	$ 34

The Company and its Significant

The Company and its Significant Accounting Policies	3 Months Ended
	Mar. 31, 2016
Accounting Policies [Abstract]
The Company and its Significant Accounting Policies	1. The Company and its Significant Accounting Policies The Company TubeMogul, Inc., a Delaware corporation (the Company), provides software for brand advertising. The Company’s customers include many of the world’s largest brands and their media agencies. The Company is headquartered in Emeryville, California and has offices in several other locations in the U.S. and internationally including in Kyiv, London, Paris, Sao Paulo, Shanghai, Singapore, Sydney, Tokyo and Toronto. Principles of Consolidation and Basis of Presentation These unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States (GAAP) and applicable rules and regulations of the Securities and Exchange Commission (SEC) regarding interim financial reporting, and include the accounts of the Company’s wholly-owned subsidiaries. All intercompany transactions and balances have been eliminated in consolidation. 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. Therefore, t hese condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and related notes included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2015. The consolidated balance sheet as of December 31, 2015 included herein was derived from the audited financial statements as of that date. These unaudited condensed consolidated financial statements reflect all normal recurring adjustments necessary to present fairly the financial position, results of operations, the Company’s comprehensive loss and cash flows for the interim periods, but are not necessarily indicative of the results of operations to be anticipated for the full fiscal year ending December 31, 2016 or any other period. Use of Estimates The preparation of the financial statements in accordance with GAAP requires management to make estimates and assumptions that affect reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Significant estimates in these condensed consolidated financial statements include allowances for doubtful accounts, reserves for sales allowances, useful lives for depreciation and amortization, loss contingencies, valuation of deferred tax assets, provisions for uncertain tax positions, capitalization of software costs, delivery of impressions for campaigns using the Company’s programmatic TV (PTV) solution and assumptions used for valuation of stock-based compensation. Actual results could differ from those and other estimates. Accounts Receivable Accounts receivable are stated at net realizable value. The Company recognizes allowances for estimated bad debt and sales allowances in the period in which the related sale is recorded. Allowances for bad debts are estimated based on the Company’s historical write-off experience and an assessment of customer-specific circumstances including, aged balances, payment history, changes in payment terms, and other customer-specific information which may provide an indication that account balances are not collectible. Accounts receivable are written off when no future collection is possible. Many of the Company’s contracts with advertising agencies provide that if the brand (i.e., the agency’s customer) does not pay the agency, the agency is not liable to the Company and the Company must seek payment from the brand. Accordingly, the Company considers the creditworthiness of the brand in establishing its allowance for doubtful accounts. However, since inception, the Company has not had to initiate collection efforts directly with any brands where the contract was with an advertising agency. The following table presents the changes in the allowance for doubtful accounts: Three Months Ended Year Ended March 31, December 31, 2016 2015 Balance, beginning of period $ (2,110 ) $ (1,369 ) Reductions (additions) to allowance 251 (1,287 ) Write offs, net of recoveries 152 546 Balance, end of period $ (1,707 ) $ (2,110 ) The Company established a reserve for sales allowances during the year ended December 31, 2014. Sales allowances primarily relate to credit memos issued for billing discrepancies and customer concessions, and are estimated using a combination of specifically identified potential claims and estimated amounts which are derived from actual historical experience. The allowance is recorded as a reduction to revenue in the consolidated statement of operations and accounts receivable on the consolidated balance sheets. The following table presents the changes in sales allowances: Three Months Ended Year Ended March 31, December 31, 2016 2015 Balance, beginning of period $ (875 ) $ (460 ) Additions to allowance (428 ) (3,244 ) Issued sales allowances 537 2,829 Balance, end of period $ (766 ) $ (875 ) Fair Value Measurement and Financial Instruments The Company measures the fair value of its financial instruments in accordance with of the Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) for Fair Value Measurements Unobservable inputs are inputs that reflect the Company’s assumptions as to what market participants would use in pricing the asset or liability developed based on the best information available under the circumstances. The hierarchy is broken down into three levels based on the observability of inputs as follows: Level 1 — Unadjusted quoted prices in active markets for identical assets or liabilities accessible to the reporting entity at the measurement date. Level 2 — Other than quoted prices included in Level 1 inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the asset or liability. Level 3 — Unobservable inputs for the asset or liability used to measure fair value to the extent that observable inputs are not available, thereby allowing for situations in which there is little, if any, market activity for the asset or liability at measurement date. The Company had $73,681 and $72,416 of cash equivalents as of March 31, 2016 and December 31, 2015, respectively, which are measured at fair value on a recurring basis. Inputs used in measuring fair value of cash equivalents are categorized as Level 1. From time to time the Company enters into foreign currency forward contracts to mitigate its exposure to foreign exchange risk. The foreign currency forward contracts are valued using observable inputs, such as quotations on forward foreign exchange points and foreign interest rates and are categorized as Level 2. Realized gains from these contracts were insignificant for the three months ended March 31, 2016. The Company uses foreign currency forward contracts to mitigate the impact of foreign currency fluctuations of certain non-U.S. dollar denominated asset positions, primarily cash and accounts receivable. Gains and losses resulting from currency exchange rate movements on these forward contracts are recognized in other income (expense) in the accompanying condensed consolidated statements of operations in the period in which the exchange rates change and offset the foreign currency gains and losses on the underlying exposure being hedged. The Company does not enter into derivative financial instruments for trading or speculative purposes. The Company is exposed to credit loss in the event of nonperformance by the counterparty to the foreign currency foreign exchange contracts. Other financial instruments not measured at fair value on the accompanying consolidated balance sheets at March 31, 2016 and December 31, 2015, but which require disclosure of their fair values, include accounts receivable, accounts payable, accrued liabilities and debt. The estimated fair values of such instruments at March 31, 2016 and December 31, 2015 approximated their carrying values due to being short term in nature. The fair values of all of these instruments are categorized as Level 2 in the fair value hierarchy. There were no assets measured using Level 3 inputs at March 31, 2016. Segment Information The Company considers operating segments to be components of the Company in which separate financial information is available that is evaluated regularly by the Company’s Chief Operating Decision Maker (CODM) in deciding how to allocate resources and in assessing performance. The CODM for the Company is the Chief Executive Officer. The CODM reviews financial information presented on a consolidated basis for purposes of allocating resources and evaluating financial performance. The Company has one business activity, and there are no segment managers who are held accountable for operations, operating results or plans for levels or components below the consolidated unit level. Accordingly, the Company has determined that it has a single operating and reportable segment, which is to design, develop and market software for digital branding. Recent Accounting Pronouncements Standard Description Planned Date of Adoption Effects on the Consolidated Financial Statements Accounting Standards Update No. 2016-08, Revenue from Contracts with Customers (Topic 606): Principal versus Agent Considerations (Reporting Revenue Gross versus Net), (ASU 2016-08) ASU 2016-08 clarifies the implementation guidance on principal versus agent considerations. The guidance includes indicators to assist an entity in determining whether it controls a specified good or service before it is transferred to the customers. The effective date and transition requirements are the same as the effective date and transition requirements of Update 2014-09. Accounting Standards Update No. 2015-14, Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date, defers the effective date of Update 2014-09 by one year. January 1, 2018 The Company is currently assessing the impact that adopting this new accounting standard will have on its consolidated financial statements and footnote disclosures. Accounting Standards Update No. 2016-09, Compensation – Stock Compensation (Topic 718), (ASU 2016-09) ASU 2016-09 identifies areas for simplification involving several aspects of accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, an option to recognize gross stock compensation expense with actual forfeitures recognized as they occur, as well as certain classifications on the statement of cash flows. For public business entities, the amendments in this Update are effective for annual periods beginning after December 15, 2016, and interim periods within those annual periods. Early adoption is permitted for any entity in any interim or annual period. If an entity early adopts the amendments in an interim period, any adjustments should be reflected as of the beginning of the fiscal year that includes that interim period. An entity that elects early adoption must adopt all of the amendments in the same period. January 1, 2017 The Company is currently assessing the impact that adopting this new accounting standard will have on its consolidated financial statements and footnote disclosures. Accounting Standards Update 2016-02, Leases, (ASU 2016-02) ASU 2016-02 requires lessees to recognize a right-of-use asset and lease liability for all leases with terms of more than twelve months. Recognition, measurement and presentation of expenses will depend on classification as a finance or operating lease. The ASU also requires certain quantitative and qualitative disclosures. Accounting guidance for lessors is largely unchanged. The amendments in this Update are effective for fiscal years beginning after December 15, 2018. January 1, 2019 The requirements should be applied on a modified retrospective basis and the updated standard will be effective for the Company in the first quarter of 2020. The Company expects that the impact of the adoption of this standard will result in the recognition of a lease asset and lease liability for those operating leases in effect at the date of adoption however, the Company is still in the process of determining the full extent the impact the adoption of this ASU will have on its consolidated financial statements and related disclosures. Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers, (ASU 2014-09) ASU 2014-09 clarifies existing accounting literature relating to how and when a company recognizes revenue. The updated standard will replace most existing revenue recognition guidance under U.S. generally accepted accounting principles (GAAP) when it becomes effective and permits the use of either the retrospective or cumulative effect transition method. Under ASU 2014-09, a company will recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods and services. Additionally, the guidance requires improved disclosures to help users of financial statements better understand the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers. The FASB decided on July 9, 2015 to defer for one year the effective date of the new revenue standard for public and nonpublic entities reporting under GAAP. The FASB also decided to permit entities to early adopt the standard, for annual reporting periods beginning after December 15, 2016, including interim reporting periods within that reporting period. January 1, 2018 The Company is currently assessing the impact that adopting this new accounting standard will have on its consolidated financial statements and footnote disclosures.

Property, Equipment and Softwar

Property, Equipment and Software	3 Months Ended
	Mar. 31, 2016
Property Plant And Equipment [Abstract]
Property, Equipment and Software	2. Property, Equipment and Software Property, equipment and software consisted of the following: March 31, December 31, 2016 2015 Computer, software and office equipment $ 4,730 $ 4,509 Capitalized internal use software costs 4,639 3,587 Furniture and fixtures 2,111 1,821 Leasehold improvements 3,683 2,336 15,163 12,253 Less accumulated depreciation and amortization (4,517 ) (3,668 ) Total $ 10,646 $ 8,585 Total depreciation and amortization expense was $849 and $412 for three months ended March 31, 2016 and 2015, respectively.

Accrued Liabilities

Accrued Liabilities	3 Months Ended
	Mar. 31, 2016
Payables And Accruals [Abstract]
Accrued Liabilities	3. Accrued Liabilities Accrued liabilities consisted of the following: March 31, December 31, 2016 2015 Accrued media costs $ 55,722 $ 61,040 Sales commissions 2,501 3,776 Payroll and related expenses 4,785 6,314 Other accrued expenses 3,424 3,797 Total $ 66,432 $ 74,927 Accrued media costs consist of amounts owed to the Company’s vendors for impressions delivered through March 31, 2016 and December 31, 2015.

Debt Obligations

Debt Obligations	3 Months Ended
	Mar. 31, 2016
Debt Disclosure [Abstract]
Debt Obligations	4. Debt Obligations March 31, December 31, 2016 2015 Short-term debt and current portion of long-term debt Revolving credit facility $ 6,050 $ 2,050 Current portion of long-term debt: Term loan 1,120 848 Total current $ 7,170 $ 2,898 Long-term debt Term loan $ 3,260 $ 2,635 Less: current portion of long-term debt: 1,120 848 Total noncurrent $ 2,140 $ 1,787 Revolving Line of Credit In April 2014, the Company entered into an amendment to its growth capital term loan and a revolving line of credit (Loan Agreement). The amendment increased the amount of the revolving line of credit to $35.0 million and extended the availability and maturity through April 1, 2016. The amendment also introduced a new financial covenant that requires the Company to meet certain minimum revenue levels. In December 2015, the Company entered into a second amendment to its Loan Agreement. The second amendment increased the amount of the revolving line of credit to $40.0 million and extended its maturity date to April 1, 2017. Under the Loan Agreement, the Company may borrow under the revolving line of credit up to the lesser of (a) $40.0 million and (b) a borrowing base equal to 80% of eligible accounts receivable as defined in the agreement. Advances under the revolving line of credit accrue interest at a floating per annum rate equal to the prime rate as published in the Western Edition Wall Street Journal. The Company is required to pay a minimum amount of interest equal to the amount of interest that would accrue per quarter on a notional outstanding principal balance of $2.1 million. The Loan Agreement includes a covenant whereby the Company is required to maintain an adjusted quick ratio of at least 1.10 to 1.00, tested as of the last day of each month, on a consolidated basis. This covenant is applicable to a given month if the Company fails to maintain, as of the last day of such month, consolidated revenues equal at least to 85% of the revenue projected in the business plan approved by the Company’s Board of Directors, measured on a trailing six-month basis. The agreement also includes a revenue covenant which requires that the Company maintain consolidated revenues equal at least to 80% of the revenue projected in the Board approved business plan measured on a trailing six-month basis, as long as the required covenant shows not less than 15% growth from the comparable period in the preceding fiscal year. If the combined amount of the Company’s cash on deposit with the lender, plus the availability under the revolving line of credit is less than $10.0 million, then the Company is required to deliver additional reporting to the lender. As of March 31, 2016, the Company had $6.1 million outstanding and had $33.9 million available under the revolving line of credit. Term Loans In connection with the December 2015 second amendment to its Loan Agreement, the Company added a $5.0 million capital equipment term loan. Outstanding amounts under the facility bear interest at a floating annual rate of prime plus 0.5%. The Company is required to repay each capital equipment financing facility loan in 36 equal monthly payments of principal plus accrued interest commencing on the first day of the month immediately following the funding of each capital equipment facility loan. As of March 31, 2016, the Company had $3.3 million outstanding under the capital equipment term loan. The interest rate at March 31, 2016, was approximately 4.0%. Future Payments Future principal payments of debt instruments as of March 31, 2016 were as follows: Principal Payments 2016 (nine months) 836 2017 7,201 2018 1,199 2019 74 Thereafter — Total payments $ 9,310

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2016
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	5. Commitments and Contingencies Lease Commitments The Company’s commitments for minimum rentals under its operating leases as of March 31, 2016 are as follows: Operating leases 2016 (nine months) $ 3,674 2017 4,668 2018 4,129 2019 3,836 2020 3,245 Thereafter 5,214 Total minimum lease payments $ 24,766 Rent expense was $1.3 million and $625 for the three months ended March 31, 2016 and 2015, respectively. Future minimum rents due to the Company under its existing subleases are $0.4 million for 2016, and $0.6 million for 2017 through 2019. These amounts are not included in the table above. Purchase Commitments In August 2015, the Company entered into a commitment to purchase media from a single supplier in the amount of $7.5 million to $15.0 million, depending on the type of media purchased. These purchases can be made at any time from February 15, 2015 through September 30, 2016. As of March 31, 2016, the Company had purchased $1.9 million of media under this arrangement. In March 2016, the Company entered into a purchase commitment with a TV data partner, which requires the Company to pay approximately $1.2 million in monthly installments over a 12-month period beginning May 1, 2016. Irrevocable Standby Letters of Credit As of March 31, 2016, the Company had three irrevocable standby letters of credit outstanding totaling approximately $1.6 million. The Company entered into these letters of credit for the benefit of its sub landlord or landlord. These irrevocable letters of credit automatically renew on their anniversary so long as the related operating lease is still effective. The letter of credit may be canceled prior to the expiration date upon the written request of the beneficiary. The Company is contractually required to keep the letters of credit for the term of the respective leases, therefore, the letters of credit are recorded as restricted cash and are classified as long-term assets on the condensed consolidated balance sheets. Legal The Company is involved from time to time in various claims and legal actions arising in the ordinary course of business. While it is not feasible to predict or determine the ultimate outcome of these matters, the Company believes that none of its current legal proceedings will have a material adverse effect on its financial position or results of operations.

Stock-Based Compensation

Stock-Based Compensation	3 Months Ended
	Mar. 31, 2016
Share Based Compensation [Abstract]
Stock-Based Compensation	6. Stock-Based Compensation In July 2007, the board of directors and stockholders of the Company approved and adopted the TubeMogul, Inc. 2007 Equity Compensation Plan (the 2007 Plan) that permitted the grant of incentive and nonqualified stock options, stock awards (including restricted stock units (RSUs)), and stock appreciation rights to purchase shares of the common stock of the Company. Under the 2007 Plan, shares of common stock are reserved for the issuance of permitted awards to eligible participants. Options granted generally vest and become exercisable over a four-year term from the date of grant, at a rate of 25% after one year, then monthly on a straight-line basis thereafter. Options granted generally are exercisable for up to 10 years from the date of grant. RSUs granted are generally released from restriction over a four-year term from the date of grant, at a rate of 25% after one year, then quarterly on a straight-line basis thereafter. The Company has authorized and reserved a total of 6,093,703 shares of common stock under the 2007 Plan for the grant of permitted awards to employees, directors, consultants, and other service providers for the Company or related companies. The 2007 Plan terminated effective July 18, 2014, though it continues to govern outstanding awards issued under the 2007 Plan prior to July 16, 2014. In February 2014, t he Company’s board of directors and stockholders approved and adopted the TubeMogul, Inc. 2014 Equity Incentive Plan (the 2014 Plan), and the 2014 Plan became effective on July 16, 2014, the day immediately preceding the Company’s initial public offering (IPO). The 2014 Plan permits the grant of stock options, stock appreciation rights, restricted stock, RSUs, performance awards and other cash-based or stock-based awards. In addition, the 2014 Plan contains a mechanism through which the Company may adopt a deferred compensation arrangement in the future. Under the 2014 Plan, shares of common stock are reserved for the issuance of permitted awards to eligible participants. The Company initially authorized and reserved a total of 2,500,000 shares of common stock under the 2014 Plan for the grant of permitted awards. This reserve automatically increased on January 1, 2016 by 1,767,183 shares and will continue to increase on each subsequent anniversary through 2024, by an amount equal to the smaller of (a) five percent (5%) of the number of shares of common stock issued and outstanding on the immediately preceding December 31; or (b) an amount determined by the Company’s board of directors. This reserve may also be increased by up to an additional 4,975,000 shares, to include (a) any shares remaining available for grant under the 2007 Plan at the time of its termination; and (b) shares that would otherwise be returned to the 2007 Plan, upon the expiration or termination of awards granted under that plan. Shares subject to awards which expire or are cancelled or forfeited will again become available for issuance under the 2014 Plan. The shares available under the 2014 Plan will not be reduced by awards settled in cash. The shares available under the 2014 Plan will be reduced by shares withheld to satisfy tax withholding obligations with respect to stock options and stock appreciation rights. The gross number of shares issued upon the exercise of stock appreciation rights or options exercised by means of a net exercise or by tender of previously owned shares will be deducted from the shares available under the 2014 Plan. For purposes of the tables below, the 2007 Plan and the 2014 Plan are collectively referred to as the “Plan.” The following table summarizes the Plan’s stock option activity: Outstanding number of shares Weighted-average exercise price per share Weighted-average grant date fair value Total intrinsic value of exercises Weighted-average remaining contractual life Aggregate intrinsic value Balance at December 31, 2015 4,266 $ 6.55 7.14 $ 34,748 Options granted — Options exercised (63 ) 1.82 $ 683 Options canceled (8 ) 7.99 Balance at March 31, 2016 4,195 $ 6.62 6.90 $ 32,079 Options exercisable and vested at March 31, 2016 2,565 $ 3.15 6.05 $ 26,395 Options vested and expected to vest at March 31, 2016 4,113 $ 6.51 6.87 $ 31,800 At March 31, 2016, there was approximately $9.9 million of total unrecognized compensation cost related to unvested options granted under the compensation plan. The remaining unrecognized compensation cost is expected to be recognized over the weighted average remaining vesting period of approximately 3.56 years at March 31, 2016. The fair value of options granted to employees is estimated on the date of grant and to non-employees at each measurement period using the Black-Scholes-Merton option valuation model. This stock-based compensation expense valuation model requires the Company to make assumptions and judgments regarding the variables used in the calculation. These variances include the expected term (weighted average period of time that the options granted are expected to be outstanding), the expected volatility of the Company’s common stock, expected risk-free interest rate, expected dividends. To the extent actual results differ from the estimates, the difference will be recorded as a cumulative adjustment in the period estimates are revised. The Company uses the simplified calculation of expected term, as the Company does not have sufficient historical data to use any other method to estimate expected term. Expected volatility is based on an average of the historical volatilities of the common stock of several entities with characteristics similar to those of the Company. The expected risk-free rate is based on the U.S. Treasury yield curve in effect at the time of grant for periods corresponding with the expected life of the option. Expected forfeitures are based on the Company’s historical experience. There were no stock options granted in the three months ended March 31, 2016. The following assumptions were used to calculate the fair value of options for the three months ended March 31, 2015: Three Months Ended March 31, 2015 Risk-free interest rate 1.80% Dividend yield — % Volatility 70% Expected term 6.5 years The following table summarizes the Plan’s RSU activity: Weighted- Outstanding Average number of Grant Date shares Fair Value Balance at December 31, 2015 2,067 $ 13.51 RSUs granted 938 11.26 RSUs released (167 ) 13.79 RSUs canceled (95 ) 12.88 Balance at March 31, 2016 2,743 $ 12.76 The fair value of RSUs granted to employees is estimated on the date of grant and to non-employees at each measurement period using the fair value of the underlying common stock. At March 31, 2016, there was approximately $29.2 million of total unrecognized compensation cost related to unvested RSUs granted under the compensation plan. The remaining unrecognized compensation cost is expected to be recognized over the weighted average remaining vesting period of approximately 3.19 years at March 31, 2016. The following table summarizes the effects of stock-based compensation in the Company’s accompanying condensed consolidated statements of operations: Three Months Ended March 31, 2016 2015 (in thousands) Research and development $ 1,304 $ 642 Sales and marketing 1,272 709 General and administrative 1,483 1,050 Total stock-based compensation $ 4,059 $ 2,401 Employee Stock Purchase Plan In February 2014, the Company’s board of directors adopted and the stockholders approved the Company’s 2014 Employee Stock Purchase Plan (ESPP), which became effective in July 2014. The ESPP allows eligible employees to purchase shares of the Company’s common stock through payroll deductions of up to 15% of their eligible compensation, subject to any plan limitations. The administrator may, in its discretion, modify the terms of offering periods. At the end of each offering period, employees are able to purchase shares at 85% of the lower of the fair market value of the Company’s common stock on the first trading day of the offering period or on the last day of the offering period. As of December 31, 2015 the Company had 1,136,964 shares available for sale under the ESPP. The ESPP provides for annual increases in the number of shares available for issuance under the ESPP on the first day of each fiscal year, equal to the least of (a) two percent of the number of shares of Stock issued and outstanding on the immediately preceding fiscal year, or (b) an amount determined by the Board.

Net Loss Per Share

Net Loss Per Share	3 Months Ended
	Mar. 31, 2016
Earnings Per Share [Abstract]
Net Loss Per Share	7. Net Loss per Share The Company’s basic net loss per share is calculated by dividing the net loss by the weighted-average number of shares of common stock outstanding for the period. The diluted net loss per share is computed by giving effect to all potential dilutive common stock equivalents outstanding for the period. For purposes of this calculation, options to purchase common stock, RSUs and shares to be issued under the ESPP are considered common stock equivalents but have been excluded from the calculation of diluted net loss per share as their effect is antidilutive as the Company had net losses for the three months ended March 31, 2016 and March 31, 2015. The securities were excluded from the calculation of diluted net loss per share because their effect would have been anti-dilutive for the periods presented: Three Months Ended March 31, 2016 2015 Employee stock options 4,195 4,959 RSUs 2,743 1,202 ESPP 138 83 Total 7,076 6,244

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2016
Income Tax Disclosure [Abstract]
Income Taxes	8. Income Taxes The Company is subject to income tax in the U.S. as well as other tax jurisdictions in which it conducts business. Earnings from non-U.S. activities are subject to local country income tax. The Company does not provide for federal income taxes on the undistributed earnings of its foreign subsidiaries as such earnings are to be reinvested indefinitely. The Company recorded an income tax provision of $194 and $114 for the three months ended March 31, 2016 and March 31, 2015, respectively, related to foreign income taxes and state minimum taxes. Based on the available objective evidence during the three months ended March 31, 2016, management believes it is more likely than not that the tax benefits of the U.S. and Japan losses incurred during that period may not be realized by the end of the 2016 fiscal year. Accordingly, the Company did not record the tax benefits of the U.S. and Japan losses incurred during the three months ended March 31, 2016. The primary difference between the effective tax rate and the federal statutory tax rate relates to foreign tax rate differences, meals and entertainment and state and local minimum and capital taxes. As of March 31, 2016, the Company had no material uncertain tax positions. Utilization of the net operating loss carryforwards may be subject to an annual limitation due to the ownership change limitations provided by the Internal Revenue Code of 1986, as amended (the Code), and similar state provisions. Any annual limitation may result in the expiration of net operating losses before utilization.

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2016
Subsequent Events [Abstract]
Subsequent Events	9. Subsequent Events In April 2016, the Company entered into a lease agreement with a landlord and a lease assignment agreement with the existing tenant, to lease additional office space at its headquarters in Emeryville. Under these agreements, the Company is required to pay approximately $6.1 million in lease payments beginning June 1, 2016. Future minimum rents under these agreements are approximately $0.9 million in 2016, $0.8 million in 2017 through 2020, and $2.0 million thereafter. In connection with the lease agreement, the Company entered into an irrevocable standby letter of credit in the amount of $1.0 million for the benefit of its landlord. The irrevocable letter of credit automatically renews on its anniversary so long that the lease is still effective. The letter of credit may be canceled prior to the expiration date upon the written request of the beneficiary.

The Company and its Significa16

The Company and its Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2016
Accounting Policies [Abstract]
Principles of Consolidation and Basis of Presentation	Principles of Consolidation and Basis of Presentation These unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States (GAAP) and applicable rules and regulations of the Securities and Exchange Commission (SEC) regarding interim financial reporting, and include the accounts of the Company’s wholly-owned subsidiaries. All intercompany transactions and balances have been eliminated in consolidation. 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. Therefore, t hese condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and related notes included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2015. The consolidated balance sheet as of December 31, 2015 included herein was derived from the audited financial statements as of that date. These unaudited condensed consolidated financial statements reflect all normal recurring adjustments necessary to present fairly the financial position, results of operations, the Company’s comprehensive loss and cash flows for the interim periods, but are not necessarily indicative of the results of operations to be anticipated for the full fiscal year ending December 31, 2016 or any other period.
Use of Estimates	Use of Estimates The preparation of the financial statements in accordance with GAAP requires management to make estimates and assumptions that affect reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Significant estimates in these condensed consolidated financial statements include allowances for doubtful accounts, reserves for sales allowances, useful lives for depreciation and amortization, loss contingencies, valuation of deferred tax assets, provisions for uncertain tax positions, capitalization of software costs, delivery of impressions for campaigns using the Company’s programmatic TV (PTV) solution and assumptions used for valuation of stock-based compensation. Actual results could differ from those and other estimates.
Accounts Receivable	Accounts Receivable Accounts receivable are stated at net realizable value. The Company recognizes allowances for estimated bad debt and sales allowances in the period in which the related sale is recorded. Allowances for bad debts are estimated based on the Company’s historical write-off experience and an assessment of customer-specific circumstances including, aged balances, payment history, changes in payment terms, and other customer-specific information which may provide an indication that account balances are not collectible. Accounts receivable are written off when no future collection is possible. Many of the Company’s contracts with advertising agencies provide that if the brand (i.e., the agency’s customer) does not pay the agency, the agency is not liable to the Company and the Company must seek payment from the brand. Accordingly, the Company considers the creditworthiness of the brand in establishing its allowance for doubtful accounts. However, since inception, the Company has not had to initiate collection efforts directly with any brands where the contract was with an advertising agency. The following table presents the changes in the allowance for doubtful accounts: Three Months Ended Year Ended March 31, December 31, 2016 2015 Balance, beginning of period $ (2,110 ) $ (1,369 ) Reductions (additions) to allowance 251 (1,287 ) Write offs, net of recoveries 152 546 Balance, end of period $ (1,707 ) $ (2,110 ) The Company established a reserve for sales allowances during the year ended December 31, 2014. Sales allowances primarily relate to credit memos issued for billing discrepancies and customer concessions, and are estimated using a combination of specifically identified potential claims and estimated amounts which are derived from actual historical experience. The allowance is recorded as a reduction to revenue in the consolidated statement of operations and accounts receivable on the consolidated balance sheets. The following table presents the changes in sales allowances: Three Months Ended Year Ended March 31, December 31, 2016 2015 Balance, beginning of period $ (875 ) $ (460 ) Additions to allowance (428 ) (3,244 ) Issued sales allowances 537 2,829 Balance, end of period $ (766 ) $ (875 )
Fair Value Measurement and Financial Instruments	Fair Value Measurement and Financial Instruments The Company measures the fair value of its financial instruments in accordance with of the Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) for Fair Value Measurements Unobservable inputs are inputs that reflect the Company’s assumptions as to what market participants would use in pricing the asset or liability developed based on the best information available under the circumstances. The hierarchy is broken down into three levels based on the observability of inputs as follows: Level 1 — Unadjusted quoted prices in active markets for identical assets or liabilities accessible to the reporting entity at the measurement date. Level 2 — Other than quoted prices included in Level 1 inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the asset or liability. Level 3 — Unobservable inputs for the asset or liability used to measure fair value to the extent that observable inputs are not available, thereby allowing for situations in which there is little, if any, market activity for the asset or liability at measurement date. The Company had $73,681 and $72,416 of cash equivalents as of March 31, 2016 and December 31, 2015, respectively, which are measured at fair value on a recurring basis. Inputs used in measuring fair value of cash equivalents are categorized as Level 1. From time to time the Company enters into foreign currency forward contracts to mitigate its exposure to foreign exchange risk. The foreign currency forward contracts are valued using observable inputs, such as quotations on forward foreign exchange points and foreign interest rates and are categorized as Level 2. Realized gains from these contracts were insignificant for the three months ended March 31, 2016. The Company uses foreign currency forward contracts to mitigate the impact of foreign currency fluctuations of certain non-U.S. dollar denominated asset positions, primarily cash and accounts receivable. Gains and losses resulting from currency exchange rate movements on these forward contracts are recognized in other income (expense) in the accompanying condensed consolidated statements of operations in the period in which the exchange rates change and offset the foreign currency gains and losses on the underlying exposure being hedged. The Company does not enter into derivative financial instruments for trading or speculative purposes. The Company is exposed to credit loss in the event of nonperformance by the counterparty to the foreign currency foreign exchange contracts. Other financial instruments not measured at fair value on the accompanying consolidated balance sheets at March 31, 2016 and December 31, 2015, but which require disclosure of their fair values, include accounts receivable, accounts payable, accrued liabilities and debt. The estimated fair values of such instruments at March 31, 2016 and December 31, 2015 approximated their carrying values due to being short term in nature. The fair values of all of these instruments are categorized as Level 2 in the fair value hierarchy. There were no assets measured using Level 3 inputs at March 31, 2016.
Segment Information	Segment Information The Company considers operating segments to be components of the Company in which separate financial information is available that is evaluated regularly by the Company’s Chief Operating Decision Maker (CODM) in deciding how to allocate resources and in assessing performance. The CODM for the Company is the Chief Executive Officer. The CODM reviews financial information presented on a consolidated basis for purposes of allocating resources and evaluating financial performance. The Company has one business activity, and there are no segment managers who are held accountable for operations, operating results or plans for levels or components below the consolidated unit level. Accordingly, the Company has determined that it has a single operating and reportable segment, which is to design, develop and market software for digital branding.
Recent Accounting Pronouncements	Recent Accounting Pronouncements Standard Description Planned Date of Adoption Effects on the Consolidated Financial Statements Accounting Standards Update No. 2016-08, Revenue from Contracts with Customers (Topic 606): Principal versus Agent Considerations (Reporting Revenue Gross versus Net), (ASU 2016-08) ASU 2016-08 clarifies the implementation guidance on principal versus agent considerations. The guidance includes indicators to assist an entity in determining whether it controls a specified good or service before it is transferred to the customers. The effective date and transition requirements are the same as the effective date and transition requirements of Update 2014-09. Accounting Standards Update No. 2015-14, Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date, defers the effective date of Update 2014-09 by one year. January 1, 2018 The Company is currently assessing the impact that adopting this new accounting standard will have on its consolidated financial statements and footnote disclosures. Accounting Standards Update No. 2016-09, Compensation – Stock Compensation (Topic 718), (ASU 2016-09) ASU 2016-09 identifies areas for simplification involving several aspects of accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, an option to recognize gross stock compensation expense with actual forfeitures recognized as they occur, as well as certain classifications on the statement of cash flows. For public business entities, the amendments in this Update are effective for annual periods beginning after December 15, 2016, and interim periods within those annual periods. Early adoption is permitted for any entity in any interim or annual period. If an entity early adopts the amendments in an interim period, any adjustments should be reflected as of the beginning of the fiscal year that includes that interim period. An entity that elects early adoption must adopt all of the amendments in the same period. January 1, 2017 The Company is currently assessing the impact that adopting this new accounting standard will have on its consolidated financial statements and footnote disclosures. Accounting Standards Update 2016-02, Leases, (ASU 2016-02) ASU 2016-02 requires lessees to recognize a right-of-use asset and lease liability for all leases with terms of more than twelve months. Recognition, measurement and presentation of expenses will depend on classification as a finance or operating lease. The ASU also requires certain quantitative and qualitative disclosures. Accounting guidance for lessors is largely unchanged. The amendments in this Update are effective for fiscal years beginning after December 15, 2018. January 1, 2019 The requirements should be applied on a modified retrospective basis and the updated standard will be effective for the Company in the first quarter of 2020. The Company expects that the impact of the adoption of this standard will result in the recognition of a lease asset and lease liability for those operating leases in effect at the date of adoption however, the Company is still in the process of determining the full extent the impact the adoption of this ASU will have on its consolidated financial statements and related disclosures. Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers, (ASU 2014-09) ASU 2014-09 clarifies existing accounting literature relating to how and when a company recognizes revenue. The updated standard will replace most existing revenue recognition guidance under U.S. generally accepted accounting principles (GAAP) when it becomes effective and permits the use of either the retrospective or cumulative effect transition method. Under ASU 2014-09, a company will recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods and services. Additionally, the guidance requires improved disclosures to help users of financial statements better understand the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers. The FASB decided on July 9, 2015 to defer for one year the effective date of the new revenue standard for public and nonpublic entities reporting under GAAP. The FASB also decided to permit entities to early adopt the standard, for annual reporting periods beginning after December 15, 2016, including interim reporting periods within that reporting period. January 1, 2018 The Company is currently assessing the impact that adopting this new accounting standard will have on its consolidated financial statements and footnote disclosures.

The Company and its Significa17

The Company and its Significant Accounting Policies (Tables)	3 Months Ended
	Mar. 31, 2016
Accounting Policies [Abstract]
Schedule of Allowance for Doubtful accounts	The following table presents the changes in the allowance for doubtful accounts: Three Months Ended Year Ended March 31, December 31, 2016 2015 Balance, beginning of period $ (2,110 ) $ (1,369 ) Reductions (additions) to allowance 251 (1,287 ) Write offs, net of recoveries 152 546 Balance, end of period $ (1,707 ) $ (2,110 )
Schedule Of Changes In Sales Allowances [Table Text Block]	The following table presents the changes in sales allowances: Three Months Ended Year Ended March 31, December 31, 2016 2015 Balance, beginning of period $ (875 ) $ (460 ) Additions to allowance (428 ) (3,244 ) Issued sales allowances 537 2,829 Balance, end of period $ (766 ) $ (875 )

Property, Equipment and Softw18

Property, Equipment and Software (Tables)	3 Months Ended
	Mar. 31, 2016
Property Plant And Equipment [Abstract]
Schedule of Property, Equipment and Software	Property, equipment and software consisted of the following: March 31, December 31, 2016 2015 Computer, software and office equipment $ 4,730 $ 4,509 Capitalized internal use software costs 4,639 3,587 Furniture and fixtures 2,111 1,821 Leasehold improvements 3,683 2,336 15,163 12,253 Less accumulated depreciation and amortization (4,517 ) (3,668 ) Total $ 10,646 $ 8,585

Accrued Liabilities (Tables)

Accrued Liabilities (Tables)	3 Months Ended
	Mar. 31, 2016
Payables And Accruals [Abstract]
Schedule of Accrued Liabilities	Accrued liabilities consisted of the following: March 31, December 31, 2016 2015 Accrued media costs $ 55,722 $ 61,040 Sales commissions 2,501 3,776 Payroll and related expenses 4,785 6,314 Other accrued expenses 3,424 3,797 Total $ 66,432 $ 74,927

Debt Obligations (Tables)

Debt Obligations (Tables)	3 Months Ended
	Mar. 31, 2016
Debt Disclosure [Abstract]
Schedule of Debt	4. Debt Obligations March 31, December 31, 2016 2015 Short-term debt and current portion of long-term debt Revolving credit facility $ 6,050 $ 2,050 Current portion of long-term debt: Term loan 1,120 848 Total current $ 7,170 $ 2,898 Long-term debt Term loan $ 3,260 $ 2,635 Less: current portion of long-term debt: 1,120 848 Total noncurrent $ 2,140 $ 1,787
Future Principal Payments of Long-Term Debt	Future principal payments of debt instruments as of March 31, 2016 were as follows: Principal Payments 2016 (nine months) 836 2017 7,201 2018 1,199 2019 74 Thereafter — Total payments $ 9,310

Commitments and Contingencies (

Commitments and Contingencies (Tables)	3 Months Ended
	Mar. 31, 2016
Commitments And Contingencies Disclosure [Abstract]
Schedule of Commitments for Minimum Rentals Under Operating Lease	The Company’s commitments for minimum rentals under its operating leases as of March 31, 2016 are as follows: Operating leases 2016 (nine months) $ 3,674 2017 4,668 2018 4,129 2019 3,836 2020 3,245 Thereafter 5,214 Total minimum lease payments $ 24,766

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	3 Months Ended
	Mar. 31, 2016
Summary of Stock Option Plan	The following table summarizes the Plan’s stock option activity: Outstanding number of shares Weighted-average exercise price per share Weighted-average grant date fair value Total intrinsic value of exercises Weighted-average remaining contractual life Aggregate intrinsic value Balance at December 31, 2015 4,266 $ 6.55 7.14 $ 34,748 Options granted — Options exercised (63 ) 1.82 $ 683 Options canceled (8 ) 7.99 Balance at March 31, 2016 4,195 $ 6.62 6.90 $ 32,079 Options exercisable and vested at March 31, 2016 2,565 $ 3.15 6.05 $ 26,395 Options vested and expected to vest at March 31, 2016 4,113 $ 6.51 6.87 $ 31,800
Schedule of Share-based Compensation, Restricted Stock Unit Award Activity	The following table summarizes the Plan’s RSU activity: Weighted- Outstanding Average number of Grant Date shares Fair Value Balance at December 31, 2015 2,067 $ 13.51 RSUs granted 938 11.26 RSUs released (167 ) 13.79 RSUs canceled (95 ) 12.88 Balance at March 31, 2016 2,743 $ 12.76
Summary of Effects of Stock-Based Compensation	The following table summarizes the effects of stock-based compensation in the Company’s accompanying condensed consolidated statements of operations: Three Months Ended March 31, 2016 2015 (in thousands) Research and development $ 1,304 $ 642 Sales and marketing 1,272 709 General and administrative 1,483 1,050 Total stock-based compensation $ 4,059 $ 2,401
Employees
Schedule of Assumptions Used to Calculate Fair Value of Options	The following assumptions were used to calculate the fair value of options for the three months ended March 31, 2015: Three Months Ended March 31, 2015 Risk-free interest rate 1.80% Dividend yield — % Volatility 70% Expected term 6.5 years

Net Loss Per Share (Tables)

Net Loss Per Share (Tables)	3 Months Ended
	Mar. 31, 2016
Earnings Per Share [Abstract]
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	The securities were excluded from the calculation of diluted net loss per share because their effect would have been anti-dilutive for the periods presented: Three Months Ended March 31, 2016 2015 Employee stock options 4,195 4,959 RSUs 2,743 1,202 ESPP 138 83 Total 7,076 6,244

The Company and its Significa24

The Company and its Significant Accounting Policies - Schedule of Allowance for Doubtful Accounts (Details) - Doubtful Accounts Receivables and Credit Memos - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Valuation And Qualifying Accounts Disclosure [Line Items]
Balance, beginning of period	$ (2,110)	$ (1,369)
Reductions (additions) to allowance	251	(1,287)
Write offs, net of recoveries	152	546
Balance, end of period	$ (1,707)	$ (2,110)

The Company and its Significa25

The Company and its Significant Accounting Policies - Schedule of Changes in Sales Allowances (Details) - Credit Memos - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Valuation And Qualifying Accounts Disclosure [Line Items]
Balance, beginning of period	$ (875)	$ (460)
Additions to allowance	(428)	(3,244)
Issued sales allowances	537	2,829
Balance, end of period	$ (766)	$ (875)

The Company and its Significa26

The Company and its Significant Accounting Policies - Additional Information (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2016USD ($)Business	Dec. 31, 2015USD ($)
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Cash and cash equivalents	$ 73,681	$ 72,416
Outstanding forward contracts notional amount	15,300
Assets measured using Level 3 inputs	$ 0
Number of operating business activity | Business	1

Property, Equipment and Softw27

Property, Equipment and Software - Schedule of Property, Equipment and Software (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Property Plant And Equipment [Line Items]
Property, equipment and software, gross	$ 15,163	$ 12,253
Less accumulated depreciation and amortization	(4,517)	(3,668)
Total	10,646	8,585
Computer, Software and Office Equipment
Property Plant And Equipment [Line Items]
Property, equipment and software, gross	4,730	4,509
Capitalized Internal Use Software Costs
Property Plant And Equipment [Line Items]
Property, equipment and software, gross	4,639	3,587
Furniture and Fixtures
Property Plant And Equipment [Line Items]
Property, equipment and software, gross	2,111	1,821
Leasehold Improvements
Property Plant And Equipment [Line Items]
Property, equipment and software, gross	$ 3,683	$ 2,336

Property, Equipment and Softw28

Property, Equipment and Software - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Property Plant And Equipment [Abstract]
Depreciation and amortization	$ 849	$ 412

Accrued Liabilities - Schedule

Accrued Liabilities - Schedule of Accrued Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Payables And Accruals [Abstract]
Accrued media costs	$ 55,722	$ 61,040
Sales commissions	2,501	3,776
Payroll and related expenses	4,785	6,314
Other accrued expenses	3,424	3,797
Total	$ 66,432	$ 74,927

Debt Obligations - Short Term a

Debt Obligations - Short Term and Current Portion of Long Term (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Short-term debt and current portion of long-term debt
Revolving credit facility	$ 6,050	$ 2,050
Current portion of long-term debt:
Total current	7,170	2,898
Revolving Credit Facility
Short-term debt and current portion of long-term debt
Revolving credit facility	6,050	2,050
Term Loan
Current portion of long-term debt:
Current portion of long-term debt	1,120	848
Long-term debt
Long-term debt	3,260	2,635
Current portion of long-term debt	1,120	848
Total noncurrent	$ 2,140	$ 1,787

Debt Obligations - Revolving Li

Debt Obligations - Revolving Line of Credit - Additional Information (Details) - USD ($)	Dec. 31, 2015	Apr. 30, 2014	Mar. 31, 2016
Line Of Credit Facility [Line Items]
Consolidated Revenues			85.00%
Covenant requirement, minimum consolidated revenue percentage to be maintained			80.00%
Minimum required percentage of growth rate for loan covenant			15.00%
Cash on deposit with lender plus availability under revolving line of credit required to deliver additional reporting			$ 10,000,000
Revolving line of credit	$ 2,050,000		$ 6,050,000
Minimum
Line Of Credit Facility [Line Items]
Adjusted Quick Ratio			110.00%
Revolving Credit Facility
Line Of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity	$ 40,000,000	$ 35,000,000
Line of credit facility expiration date	Apr. 1, 2017	Apr. 1, 2016
Line of credit facility, covenant terms			Under the Loan Agreement, the Company may borrow under the revolving line of credit up to the lesser of (a) $40.0 million and (b) a borrowing base equal to 80% of eligible accounts receivable as defined in the agreement. Advances under the revolving line of credit accrue interest at a floating per annum rate equal to the prime rate as published in the Western Edition Wall Street Journal. The Company is required to pay a minimum amount of interest equal to the amount of interest that would accrue per quarter on a notional outstanding principal balance of $2.1 million.
Investment Owned, Balance, Principal Amount			$ 2,100,000
Revolving line of credit	$ 2,050,000		6,050,000
Available borrowing with revolving line of credit			$ 33,900,000

Debt Obligations - Term Loans -

Debt Obligations - Term Loans - Additional Information (Details) - USD ($)	Mar. 31, 2016	Dec. 31, 2015	Apr. 30, 2014
Equipment Term Loan Facility
Line Of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity		$ 5,000,000
Term loan outstanding	$ 3,300,000
Interest rate, percentage	4.00%
Revolving Credit Facility
Line Of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity		$ 40,000,000	$ 35,000,000
Line of credit facility, applicable margin	0.50%

Debt Obligations - Future Princ

Debt Obligations - Future Principal Payments of Debt Instruments (Details) $ in Thousands	Mar. 31, 2016USD ($)
Debt Disclosure [Abstract]
2016 (nine months)	$ 836
2,017	7,201
2,018	1,199
2,019	74
Total payments	$ 9,310

Commitments and Contingencies -

Commitments and Contingencies - Commitments For Minimum Rentals Under Operating Lease (Details) $ in Thousands	Mar. 31, 2016USD ($)
Commitments And Contingencies Disclosure [Abstract]
2016 (nine months)	$ 3,674
2,017	4,668
2,018	4,129
2,019	3,836
2,020	3,245
Thereafter	5,214
Total minimum lease payments	$ 24,766

Commitments and Contingencies35

Commitments and Contingencies - Additional Information (Details)	Aug. 31, 2015USD ($)	Mar. 31, 2016USD ($)LOC	Mar. 31, 2016USD ($)LOC	Mar. 31, 2015USD ($)
Long Term Purchase Commitment [Line Items]
Rent expense			$ 1,300,000	$ 625,000
2016 (nine months)		$ 3,674,000	3,674,000
2,017		4,668,000	4,668,000
2,018		4,129,000	4,129,000
2,019		3,836,000	3,836,000
Commitment to purchase		$ 1,200,000	$ 1,900,000
Description of purchase commitment period of time			These purchases can be made at any time from February 15, 2015 through September 30, 2016.
Monthly installments to pay the purchase commitment amount		12 months
Purchase commitment payment commencement date		May 1, 2016
Number of irrevocable standby letters of credit | LOC		3	3
Irrevocable letters of credit outstanding amount		$ 1,600,000	$ 1,600,000
Minimum
Long Term Purchase Commitment [Line Items]
Commitment to purchase	$ 7,500,000
Maximum
Long Term Purchase Commitment [Line Items]
Commitment to purchase	$ 15,000,000
Subleases
Long Term Purchase Commitment [Line Items]
2016 (nine months)		400,000	400,000
2,017		600,000	600,000
2,018		600,000	600,000
2,019		$ 600,000	$ 600,000

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Details) - USD ($) $ in Millions	1 Months Ended	3 Months Ended	12 Months Ended
	Feb. 28, 2014	Mar. 31, 2016	Dec. 31, 2015	Jan. 01, 2016
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Percentage of increase on common stock authorized on each subsequent anniversary		5.00%
Common stock, shares authorized reserve, description and terms		This reserve automatically increased on January 1, 2016 by 1,767,183 shares and will continue to increase on each subsequent anniversary through 2024, by an amount equal to the smaller of (a) five percent (5%) of the number of shares of common stock issued and outstanding on the immediately preceding December 31; or (b) an amount determined by the Company’s board of directors.
Stock options, granted		0
Share available for sale under the ESSP			1,136,964
Common Stock Including Additional Paid in Capital
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock, shares authorized		4,975,000
2007 Equity Compensation Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock, shares authorized		6,093,703
2014 Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock, shares authorized		2,500,000		1,767,183
2014 ESPP
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock purchase price discounted rate for eligible employee	15.00%
Lower fair market value of common stock on the first trading day	85.00%
Employee Stock Option
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized compensation cost		$ 9.9
Unrecognized compensation cost expected to be recognized period		3 years 6 months 22 days
Employee Stock Option | 2007 Equity Compensation Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Options granted vesting period		4 years
Percentage of options granted vesting period		25.00%
Employee Stock Option | 2014 Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Options granted vesting period		4 years
Percentage of options granted vesting period		25.00%
RSUs
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized compensation cost		$ 29.2
Unrecognized compensation cost expected to be recognized period		3 years 2 months 9 days
RSUs | 2007 Equity Compensation Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Options granted vesting period		4 years
Percentage of options granted vesting period		25.00%
RSUs | 2014 Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Options granted vesting period		4 years
Percentage of options granted vesting period		25.00%
Maximum | Employee Stock Option | 2007 Equity Compensation Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Options granted exercisable vesting period		10 years
Maximum | Employee Stock Option | 2014 Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Options granted exercisable vesting period		10 years

Stock-Based Compensation - Summ

Stock-Based Compensation - Summary of Stock Option Plan (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Outstanding number of shares
Outstanding number of shares, Beginning	4,266,000
Outstanding number of shares, Options granted	0
Outstanding number of shares, Options exercised	(63,000)
Outstanding number of shares, Options canceled	(8,000)
Outstanding number of shares, Ending	4,195,000	4,266,000
Outstanding number of shares, Options exercisable and vested	2,565,000
Outstanding number of shares, Options vested and expected to vest	4,113,000
Weighted-average exercise price per share
Weighted average exercise price per share, Beginning	$ 6.55
Weighted average exercise price per share, Options exercised	1.82
Weighted average exercise price per share, Options canceled	7.99
Weighted average exercise price per share, Ending	6.62	$ 6.55
Weighted average exercise per share, Options exercisable and vested	3.15
Weighted average exercise per share, Options vested and expected to vest	$ 6.51
Total intrinsic value of shares
Total intrinsic value of shares, Options exercised	$ 683
Weighted average remaining contractual life
Weighted average remaining contractual life	6 years 10 months 24 days	7 years 1 month 21 days
Weighted average remaining contractual life, Options exercisable and vested	6 years 18 days
Weighted average remaining contractual life, Options vested and expected to vest	6 years 10 months 13 days
Aggregate intrinsic value
Aggregate intrinsic value	$ 32,079	$ 34,748
Aggregate intrinsic value, Options exercisable and vested	26,395
Aggregate intrinsic value, Options vested and excepted to vest	$ 31,800

Stock-Based Compensation - Sche

Stock-Based Compensation - Schedule of Assumptions Used to Calculate Fair Value of Options (Details)	3 Months Ended
	Mar. 31, 2015
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Risk-free interest rate	1.80%
Volatility	70.00%
Expected term	6 years 6 months

Stock-Based Compensation - Su39

Stock-Based Compensation - Summary of Plans RSU Activity (Details) - Restricted Stock Units (RSUs) shares in Thousands	3 Months Ended
	Mar. 31, 2016$ / sharesshares
Outstanding number of shares
Outstanding number of shares, Beginning | shares	2,067
Outstanding number of shares, RSUs granted | shares	938
Outstanding number of shares, RSUs released | shares	(167)
Outstanding number of shares, RSUs canceled | shares	(95)
Outstanding number of shares, Ending | shares	2,743
Weighted-average Grant Date Fair Value
Weighted-Average Grant Date Fair Value, Beginning | $ / shares	$ 13.51
Weighted-Average Grant Date Fair Value, granted | $ / shares	11.26
Weighted-Average Grant Date Fair Value, released | $ / shares	13.79
Weighted-Average Grant Date Fair Value, canceled | $ / shares	12.88
Weighted-Average Grant Date Fair Value, Ending | $ / shares	$ 12.76

Stock-Based Compensation - Su40

Stock-Based Compensation - Summary of Effects of Stock-Based Compensation (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total stock-based compensation	$ 4,059	$ 2,401
Research and development
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total stock-based compensation	1,304	642
Sales and marketing
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total stock-based compensation	1,272	709
General and administrative
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total stock-based compensation	$ 1,483	$ 1,050

Net Loss per Share - Schedule o

Net Loss per Share - Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share (Details) - shares	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive securities that were excluded from calculation of diluted net loss per share	7,076,000	6,244,000
Employee Stock Option
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive securities that were excluded from calculation of diluted net loss per share	4,195,000	4,959,000
Restricted Stock Units (RSUs)
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive securities that were excluded from calculation of diluted net loss per share	2,743,000	1,202,000
Employee stock purchase plan (ESPP)
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive securities that were excluded from calculation of diluted net loss per share	138,000	83,000

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Income Tax Examination [Line Items]
Foreign income taxes and state minimum taxes	$ 194,000	$ 114,000
Material uncertain tax positions	0
US
Income Tax Examination [Line Items]
Current federal tax benefit	0
Japan
Income Tax Examination [Line Items]
Current foreign tax benefit	$ 0

Subsequent Events - Additional

Subsequent Events - Additional Information (Details) - USD ($) $ in Thousands	Apr. 30, 2016	Mar. 31, 2016
Subsequent Event [Line Items]
Operating leases, future minimum payments due, total		$ 24,766
2016 (nine months)		3,674
2,017		4,668
2,018		4,129
2,019		3,836
2,020		3,245
Thereafter		$ 5,214
Subsequent Event
Subsequent Event [Line Items]
Operating leases, future minimum payments due, total	$ 6,100
2016 (nine months)	900
2,017	800
2,018	800
2,019	800
2,020	800
Thereafter	2,000
Subsequent Event | Standby Letters of Credit
Subsequent Event [Line Items]
Irrevocable letters of credit amount	$ 1,000