Performant Healthcare (PHLT) 10-Q 5 Aug 16 2016 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2016	Aug. 04, 2016
Document Documentand Entity Information [Abstract]
Entity Registrant Name	Performant Financial Corporation
Entity Central Index Key	1,550,695
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Document Type	10-Q
Document Period End Date	Jun. 30, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus (Q1,Q2,Q3,FY)	Q2
Amendment Flag	false
Entity Common Stock, Shares Outstanding		50,174,779

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Current assets:
Cash and cash equivalents	$ 53,188	$ 71,182
Restricted cash	7,511	0
Trade accounts receivable, net of allowance for doubtful accounts of $386 and $386, respectively	11,606	17,965
Deferred income taxes	7,208	7,170
Prepaid expenses and other current assets	12,705	12,933
Total current assets	92,218	109,250
Property, equipment, and leasehold improvements, net	24,217	25,515
Identifiable intangible assets, net	23,202	25,074
Goodwill	82,522	82,522
Other assets	171	179
Total assets	222,330	242,540
Current liabilities:
Current maturities of notes payable, net of unamortized debt issuance costs of $570 and $1,078, respectively	14,652	7,998
Accrued salaries and benefits	7,240	4,761
Accounts payable	1,124	929
Other current liabilities	5,592	5,615
Income Tax Payable	958	895
Estimated liability for appeals	19,405	19,118
Net payable to client	14,793	14,400
Total current liabilities	63,764	53,716
Notes payable, net of current portion and unamortized debt issuance costs of $938 and $1,038, respectively	51,060	84,144
Deferred income taxes	8,411	8,818
Other liabilities	1,896	2,006
Total liabilities	125,131	148,684
Commitments and contingencies
Stockholders’ equity:
Common stock, $0.0001 par value. Authorized, 500,000 shares at June 30, 2016 and December 31, 2015; issued and outstanding 50,169 and 49,479 shares at June 30, 2016 and December 31, 2015, respectively	5	5
Additional paid-in capital	63,595	61,808
Retained earnings	33,599	32,043
Total stockholders’ equity	97,199	93,856
Total liabilities and stockholders’ equity	$ 222,330	$ 242,540

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 386	$ 386
Debt issuance costs (current)	570	1,078
Debt issuance costs notes payable (non current)	$ 938	$ 1,038
Common Stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common Stock, authorized shares (in shares)	500,000,000	500,000,000
Common Stock, issued shares (in shares)	50,169,000	49,479,000
Common Stock, outstanding shares (in shares)	50,169,000	49,479,000

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Income Statement [Abstract]
Revenues	$ 38,074	$ 41,262	$ 76,353	$ 79,821
Operating expenses:
Salaries and benefits	20,060	22,142	41,397	45,866
Other operating expenses	13,733	15,510	28,090	34,705
Total operating expenses	33,793	37,652	69,487	80,571
Income (loss) from operations	4,281	3,610	6,866	(750)
Interest expense	(1,841)	(2,278)	(4,273)	(4,663)
Income (loss) before provision for (benefit from) income taxes	2,440	1,332	2,593	(5,413)
Provision for (benefit from) income taxes	963	606	1,036	(1,737)
Net income (loss)	$ 1,477	$ 726	$ 1,557	$ (3,676)
Net income (loss) per share
Basic (in dollars per share)	$ 0.03	$ 0.01	$ 0.03	$ (0.07)
Diluted (in dollars per share)	$ 0.03	$ 0.01	$ 0.03	$ (0.07)
Weighted average shares (in shares)
Basic (in shares)	50,075	49,388	49,860	49,373
Diluted (in shares)	50,527	49,960	50,347	49,373

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 1,477	$ 726	$ 1,557	$ (3,676)
Other comprehensive income:
Foreign currency translation adjustment	11	0	25	0
Comprehensive income (loss)	$ 1,488	$ 726	$ 1,582	$ (3,676)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Cash flows from operating activities:
Net income (loss)	$ 1,557	$ (3,676)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Loss on disposal of asset	9	2
Depreciation and amortization	6,806	6,852
Deferred income taxes	(1,247)	(692)
Stock-based compensation	2,340	2,167
Interest expense from debt issuance costs and amortization of discount note payable	550	667
Write-off unamortized debt issuance costs	468	0
Changes in operating assets and liabilities:
Trade accounts receivable	6,359	39
Prepaid expenses and other current assets	228	(230)
Income tax receivable	0	2,528
Other assets	8	149
Accrued salaries and benefits	2,479	2,453
Accounts payable	195	794
Other current liabilities	268	(2,558)
Income taxes payable	63	0
Estimated liability for appeals	287	86
Net payable to client	393	3,051
Other liabilities	(110)	460
Net cash provided by operating activities	20,653	12,092
Cash flows from investing activities:
Purchase of property, equipment, and leasehold improvements	(3,645)	(3,696)
Net cash used in investing activities	(3,645)	(3,696)
Cash flows from financing activities:
Repayment of notes payable	(27,038)	(11,727)
Restricted cash for repayment of notes payable	(7,511)	0
Debt issuance costs paid	(410)	0
Taxes paid related to net share settlement of stock awards	(205)	0
Proceeds from exercise of stock options	330	25
Income tax benefit (shortfall) from employee stock options	99	(121)
Payment of purchase obligation	(292)	(815)
Net cash used in financing activities	(35,027)	(12,638)
Effect of foreign currency exchange rate changes on cash	25	0
Net decrease in cash and cash equivalents	(17,994)	(4,242)
Cash and cash equivalents at beginning of period	71,182	80,298
Cash and cash equivalents at end of period	53,188	76,056
Supplemental disclosures of cash flow information:
Cash paid (received) for income taxes	2,096	(3,322)
Cash paid for interest	$ 3,258	$ 3,999

Organization and Description of

Organization and Description of Business	6 Months Ended
	Jun. 30, 2016
Accounting Policies [Abstract]
Organization and Description of Business	Organization and Description of Business (a) Basis of Presentation and Organization The accompanying unaudited consolidated financial statements have been prepared in accordance with U.S. Generally Accepted Accounting Principles, or U.S. GAAP, for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and notes required by U.S. GAAP for complete financial statements. In the opinion of management, the unaudited interim financial statements furnished herein include all adjustments necessary (consisting only of normal recurring adjustments) for a fair presentation of our and our subsidiaries’ financial position at June 30, 2016 , the results of our operations for the three and six months ended June 30, 2016 and 2015 and cash flows for the six months ended June 30, 2016 and 2015 . Interim financial statements are prepared on a basis consistent with our annual consolidated financial statements. The interim financial statements included herein should be read in conjunction with the consolidated financial statements and related notes included in our annual report on Form 10-K for the years ended December 31, 2015, 2014, and 2013. The Company is a leading provider of technology-enabled recovery and analytics services in the United States. The Company's services help identify, restructure and recover delinquent or defaulted assets and improper payments for both government and private clients in a broad range of markets. Company clients typically operate in complex and regulated environments and outsource their recovery needs in order to reduce losses on billions of dollars of defaulted student loans, improper healthcare payments and delinquent state tax and federal treasury receivables. The Company generally provides services on an outsourced basis, where we handle many or all aspects of the clients’ recovery processes. The Company's consolidated financial statements include the operations of Performant Financial Corporation (PFC), its wholly owned subsidiary Performant Business Services, Inc., and its wholly owned subsidiaries Performant Recovery, Inc. (Recovery) and Performant Technologies, Inc. PFC is a Delaware corporation headquartered in California and was formed in 2003. Performant Business Services, Inc. is a Nevada corporation founded in 1997. Recovery is a California corporation founded in 1976. Performant Technologies, Inc. is a California corporation that was formed in 2004. All significant intercompany balances and transactions have been eliminated in consolidation. The Company is managed and operated as one business, with a single management team that reports to the Chief Executive Officer. The preparation of the consolidated financial statements in conformity with U.S. GAAP, requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities, primarily accounts receivable, intangible assets, goodwill, estimated liability for appeals, accrued expenses, and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting periods. Our actual results could differ from those estimates. (b) Revenues, Accounts Receivable, and Estimated Liability for Appeals Revenue is recognized upon the collection of defaulted loan and debt payments. Loan rehabilitation revenue is recognized when the rehabilitated loans are sold (funded) by clients. Incentive revenue is recognized upon receipt of official notification of incentive award from customers. Under the Company’s Medicare Recovery Audit Contractor, or RAC, contract with Centers for Medicare and Medicaid Services, or CMS, the Company recognizes revenues when the healthcare provider has paid CMS for a given claim or has agreed to an offset against other claims by the provider. Providers have the right to appeal a claim and may pursue additional appeals if the initial appeal is found in favor of CMS. The Company accrues an estimated liability for appeals at the time revenue is recognized based on the Company's estimate of the amount of revenue probable of being refunded to CMS following successful appeal. In addition, if the Company's estimate of the liability for appeals with respect to revenues recognized during a prior period changes, the Company increases or decreases current period accruals based on such change in estimated liability. At June 30, 2016 a total of $19.1 million was presented as an allowance against revenue, representing the Company’s estimate of claims audited under the CMS contract that may be overturned. Of this, an immaterial amount was related to accounts receivable and $19.1 million was related to commissions which had already been received. The zero allowance against accounts receivable at June 30, 2016 is due to the fact that the receivable from CMS is netted against an offsetting payable for overturned audits, and at June 30, 2016 , the amount of the payable exceeded the amount of the receivable as discussed in note 1(c). In addition to the $19.1 million related to the RAC contract with CMS, the Company has accrued $0.3 million of additional estimated liability for appeals related to other healthcare contracts. The total accrued liability for appeals of $19.4 million has been presented in the caption estimated liability for appeals at June 30, 2016 . At December 31, 2015, the total appeals-related liability was $19.1 million . The $19.4 million balance at June 30, 2016 and $19.1 million balance at December 31, 2015, represent the Company’s best estimate of the probable amount of losses related to appeals of claims for which commissions were previously collected. In addition to the $19.4 million amount accrued at June 30, 2016 , the Company estimates that it is reasonably possible that it could be required to pay an additional amount up to approximately $5.4 million as a result of potentially successful appeals. To the extent that required payments by the Company exceed the amount accrued, revenues in the applicable period would be reduced by the amount of the excess. (c) Net Payable to Client The Company nets outstanding accounts receivable invoices from an audit and recovery contract against payables for overturned audits. The overturned audits are netted against current fees due on the invoice to the client when they are processed by the client’s system. The “Net payable to client” balance of $14.8 million represents the excess of payables for overturned audits at June 30, 2016 . At December 31, 2015, the net of the "Net payable to client" balance of $14.4 million was comprised of payables of $15.4 million for overturned audits offset by outstanding receivables of $1.0 million . The Company expects that the net payable-to-client balance will be paid to the client within the next twelve months. (d) Prepaid Expenses and Other Current Assets At June 30, 2016 , prepaid expenses and other current assets includes $5.7 million of amounts estimated to become due from subcontractors. The Company employs subcontractors to audit claims as part of an audit & recovery contract, and to the extent that audits by these subcontractors are overturned on appeal, the fees associated with such claims are contractually refundable to the Company. At June 30, 2016 , the receivable associated with estimated future overturns of subcontractor audits was $5.7 million . In addition, at June 30, 2016 , prepaid expenses and other current assets includes a net receivable of $3.9 million for subcontractor fees for already overturned audits refundable to the Company once the Company refunds its fees to the client as prime contractor. By comparison, at December 31, 2015, prepaid expenses and other current assets included $5.7 million of estimated future overturns of subcontractor audits, as well as a net receivable of $3.8 million for subcontractor fees for already overturned audits refundable to the Company once the Company refunds its fees to the client as prime contractor. (e) Impairment of Long-Lived Assets Long-lived assets are evaluated for impairment whenever events or changes in circumstances indicate that the carrying amount of such assets or intangibles may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of the assets to future undiscounted net cash flows expected to be generated by the assets. If such assets are considered to be impaired, the impairment to be recognized is measured by the amount by which the carrying amount of the assets exceeds the fair value of the assets. There was no impairment expense for long-lived assets for the six months ended June 30, 2016. For the six months ended June 30, 2015, an impairment expense of $0.2 million was recognized to account for the loss of a client and it has been included in other operating expenses in the consolidated statements of operations. (f) Restricted Cash At June 30, 2016, restricted cash included in current assets on our consolidated balance sheet was $7.5 million . As discussed in Note 3, in February 2016 the Company deposited $7.5 million into a segregated deposit account in connection with the Fourth Amendment to our credit agreement. The cash in this segregated deposit account is restricted because it is subject to the exclusive control of the administrative agent as set forth in our credit agreement. (g) Recent Accounting Pronouncements Recently Issued Accounting Standards In May 2014, FASB issued an ASU that amends the FASB ASC by creating a new Topic 606, Revenue from Contracts with Customers. The new guidance will supersede the revenue recognition requirements in Topic 605, Revenue Recognition, and most industry-specific guidance on revenue recognition throughout the Industry Topics of the Codification. The core principle of the guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. To achieve that core principle, an entity should apply the following steps: Step 1: Identify the contract(s) with a customer. Step 2: Identify the performance obligations in the contract. Step 3: Determine the transaction price. Step 4: Allocate the transaction price to the performance obligations in the contract. Step 5: Recognize revenue when (or as) the entity satisfies a performance obligation. In addition, an entity should disclose sufficient qualitative and quantitative information to enable users of financial statements to understand the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. Early adoption is not permitted. This amendment is to be either retrospectively adopted to each prior reporting period presented or retrospectively with the cumulative effect of initially applying this ASU recognized at the date of initial application. On July 9, 2015, the FASB decided to defer the effective date by one year, to annual reporting periods beginning on or after December 15, 2017, including interim periods within that reporting period. The FASB also voted to permit early adoption of the guidance but no earlier than the original effective date. The Company is currently evaluating the impact of the adoption of this guidance on its consolidated financial statements. In August 2014, the FASB issued Accounting Standards Update No. 2014-15, “Presentation of Financial Statements - Going Concern”, which addresses management’s responsibility to evaluate whether there is substantial doubt about an entity’s ability to continue as a going concern and to provide related footnote disclosures. Management’s evaluation should be based on relevant conditions and events that are known, and reasonably knowable, at the date that the financial statements are issued. This new guidance will be effective for the first interim period within annual reporting periods beginning after December 31, 2016 with early adoption permitted. We have not adopted this guidance early and are currently evaluating the effect on our consolidated financial statements. In November 2015, the FASB issued ASU 2015-17, “Income Taxes: Balance Sheet Classification of Deferred Taxes” which simplifies the current presentation of separately classifying deferred tax assets and deferred tax liabilities as current and noncurrent in a classified balance sheet by requiring companies to present them as noncurrent. This new guidance is effective for annual reporting periods beginning after December 15, 2016, including interim periods within such annual reporting periods with early adoption permitted. We have not adopted this guidance early and are currently evaluating the effect on our consolidated financial statements. In February 2016, the FASB issued ASU 2016-02, “Leases”, which, for operating leases, requires a lessee to recognize a right-of-use asset and a lease liability, initially measured at the present value of the lease payments, in its balance sheet. The standard also requires a lessee to recognize a single lease cost, calculated so that the cost of the lease is allocated over the lease term, on a generally straight-line basis. This new guidance is effective for annual reporting periods beginning after December 15, 2018 with early adoption permitted. We have not adopted this guidance early and are currently evaluating the effect on our consolidated financial statements. In March 2016, the FASB issued ASU 2016-09, “Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting”. The standard is intended to simplify several areas of accounting for share-based compensation arrangements, including the income tax impact, classification on the statement of cash flows and forfeitures. This new guidance is effective for annual reporting periods, and interim periods within those years, beginning after December 15, 2016, and early adoption is permitted. We have not adopted this guidance early and are currently evaluating the effect on our consolidated financial statements.

Property, Equipment, and Leaseh

Property, Equipment, and Leasehold Improvements	6 Months Ended
	Jun. 30, 2016
Property, Plant and Equipment [Abstract]
Property, Equipment, and Leasehold Improvements	Property, Equipment, and Leasehold Improvements Property, equipment, and leasehold improvements consist of the following at June 30, 2016 and December 31, 2015 (in thousands): June 30, December 31, Land $ 1,122 $ 1,122 Building and leasehold improvements 6,093 6,053 Furniture and equipment 5,408 5,390 Computer hardware and software 69,918 67,353 82,541 79,918 Less accumulated depreciation and amortization (58,324 ) (54,403 ) Property, equipment and leasehold improvements, net $ 24,217 $ 25,515 Depreciation expense of property, equipment and leasehold improvements was $2.4 million and $2.3 million for the three months ended June 30, 2016 and 2015 , respectively, and $4.9 million and $4.7 million for the six months ended June 30, 2016 and 2015 , respectively.

Credit Agreement

Credit Agreement	6 Months Ended
	Jun. 30, 2016
Debt Disclosure [Abstract]
Credit Agreement	Credit Agreement On February 19, 2016, we entered into the Fourth Amendment to our Credit Agreement (Fourth Amendment) in which certain financial covenants were amended. Under the Fourth Amendment, our financial covenants were modified as follows: • The annual capital expenditure limitation of $12.5 million , which was in effect for the year ending December 31, 2016, has been revised under the Fourth Amendment to be $8 million for the years ending December 31, 2016 and December 31, 2017. • The total debt to EBITDA ratio of 3.25 to1.0, which was in effect for the computation periods ending as of March 31, 2017 and June 30, 2017, has been revised under the Fourth Amendment to be 4.75 to 1.0 for those periods. • The interest coverage ratio of 2.50 to 1.0, which was in effect for the computation period ending as of December 31, 2016, has been revised under the Fourth Amendment to be 2.0 to 1.0 for the computation period ending as of December 31, 2016 and 1.75 to 1.0 for the computation periods ending as March 31, 2017 and June 30, 2017. • The fixed charge coverage ratio of 1.20 to1.0, which was in effect for the quarterly computation periods under the Credit Agreement ending as of March 31, 2017 through December 31, 2017, has been revised under the Fourth Amendment to apply only to the computation periods ending as September 30, 2017 and December 31, 2017. • The required minimum adjusted cash balance of $30.0 million , which was in effect from March 31, 2016 through December 31, 2016, has been revised under the Fourth Amendment to be $10.0 million from March 31, 2016 through September 30, 2016. • The minimum trailing twelve month EBITDA of $20.0 million , which was in effect from March 31, 2016 through December 31, 2016, has been revised under the Fourth Amendment by shortening such period to extend until June 30, 2016. Interest charged under the Credit Agreement as revised by the Fourth Amendment with respect to the Term A loan revolving loan advances is now charged either at Prime + 5.75% or LIBOR + 6.75% , and interest with respect to the Term B loan is now charged either at Prime + 6.25% or LIBOR + 7.25% . In connection with the Fourth Amendment, we voluntarily prepaid $22.5 million under the Credit Agreement, which was applied ratably to the Term A loan and the Term B loan. In addition, we deposited $7.5 million into a deposit account which is subject to the exclusive control of the Agent. Pursuant to the Fourth Amendment, these funds will be remitted to the Agent for application to the term loans or other obligations, as applicable, under the Credit Agreement on the earlier to occur of (i) September 30, 2016 (or such later date not more than thirty (30) days thereafter as may be agreed by Agent in its sole discretion) and (ii) the occurrence and continuation of an event of default; however, all or a portion of these funds may also be returned the Company if the Agent and the requisite lenders under the Credit Agreement elect otherwise in their sole discretion. Scheduled payments under the Agreement, as modified by the Fourth Amendment, for the next five years and thereafter are as follows (in thousands): Year Ending December 31, Amount Remainder of 2016 $ 12,038 2017 3,959 2018 51,223 2019 — 2020 — Thereafter — Total $ 67,220 Due to delays in the award of the new contracts by CMS and the Department of Education, significant limitations on our audit and recovery activity during the CMS contract transition period, suspension of student loan placements to us from the Department of Education during the contract transition period and recovery fee reductions in the student lending market, we have been actively restructuring both our variable and fixed expenses consistent with our reduced operations and in order to maintain compliance with our debt covenants under our credit agreement. As mentioned below, and as discussed in footnote 8, in July 2016, the Company entered into Amendment No. 5 to its Credit Agreement, and our current financial projections show that we expect to be able to maintain compliance with these covenants through the third quarter of 2017. However, the factors noted above have had and, until resolved, will continue to have a significant negative effect on our revenues and earnings and our ability to continue to comply with these covenants. Accordingly, we expect to seek further modifications to the covenants from our lenders or refinance our indebtedness. Our inability to maintain long-term compliance with our debt covenants, or to refinance or restructure the terms of our indebtedness on commercially reasonable terms or at all, would have an adverse effect, which could be material on our business, financial condition and results of operations, as well as our ability to satisfy our debt obligations. In addition, due to the delays in the award of the new contracts from the Department of Education and CMS, we implemented cost and expense reductions during 2015 that included a significant reduction in personnel. To the extent we are able to secure new contracts with the Department of Education or CMS, we will incur significant expenses to hire additional personnel that will be required to provide services under any such new contract that may require us to obtain additional financing. There can be no assurance that we will be able to obtain such financing on favorable terms, or at all. On July 26, 2016, the Company entered into Amendment No. 5 to its Credit Agreement (Fifth Amendment) in which certain financial covenants were amended and additional financial covenants were added. Please see footnote 8 - "Subsequent Events" below.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2016
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies We have entered into various non-cancelable operating lease agreements for certain of our office facilities and equipment with original lease periods expiring between 2016 and 2021 . Certain of these arrangements have free rent periods and /or escalating rent payment provisions, and we recognize rent expense under such arrangements on a straight-line basis. Future minimum rental commitments under non-cancelable leases as of June 30, 2016 are as follows (in thousands): Year Ending December 31, Amount Remainder of 2016 $ 1,098 2017 1,766 2018 943 2019 873 2020 843 Thereafter 310 Total $ 5,833 Operating lease expense was $ 0.7 million and $0.7 million for the three months ended June 30, 2016 and 2015 , respectively, and was $1.4 million and $1.5 million for the six months ended June 30, 2016 and 2015 , respectively.

Stock-based Compensation

Stock-based Compensation	6 Months Ended
	Jun. 30, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock-based Compensation	Stock-based Compensation (a) Stock Options Total stock-based compensation expense charged as salaries and benefits expense in the consolidated statements of operations was $1.1 million and $1.2 million for the three months ended June 30, 2016 and 2015 , respectively, and $2.3 million and $2.2 million for the six months ended June 30, 2016 and 2015 , respectively. The following table shows stock option activity for the six months ended June 30, 2016 : Outstanding Options Weighted average exercise price per share Weighted average remaining contractual life (Years) Aggregate Intrinsic Value (in thousands) Outstanding at December 31, 2015 4,117,123 $ 6.92 5.64 $ 1,211 Granted 115,000 1.74 Forfeited (299,561 ) 8.12 Exercised (390,767 ) 0.85 Outstanding at June 30, 2016 3,541,795 $ 7.32 5.55 $ 700 Vested, exercisable, expected to vest (1) at June 30, 2016 3,498,156 $ 7.32 5.53 $ 700 Exercisable at June 30, 2016 2,637,590 $ 7.10 4.91 $ 700 (1) Options expected to vest reflect an estimated forfeiture rate. The Company recognizes share-based compensation costs as expense on a straight-line basis over the option vesting period, which generally is four to five years . (b) Restricted Stock Units and Performance Stock Units The following table summarizes restricted stock unit and performance stock unit activity for the six months ended June 30, 2016 : Number of Awards Weighted average grant date fair value per share Outstanding at December 31, 2015 1,229,274 $ 4.67 Granted 1,415,954 1.73 Forfeited (128,850 ) 4.30 Vested and converted to shares (418,484 ) 3.33 Outstanding at June 30, 2016 2,097,894 $ 2.98 Expected to vest at June 30, 2016 1,993,048 $ 2.98 Restricted stock units and performance stock units granted under the Performant Financial Corporation 2012 Stock Incentive Plan generally vest over periods ranging from one to four years .

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2016
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Our effective income tax rate changed to 40.0% for the six months ended June 30, 2016 from 32.1% for the six months ended June 30, 2015 . The increase in the effective tax rate is primarily due to income from operations generated in the six months ended June 30, 2016 compared to the loss from operations incurred for the six months ended June 30, 2015 and the resulting impact of the discrete items on the effective tax rate. We file income tax returns with the U.S. federal government and various state jurisdictions. We operate in a number of state and local jurisdictions, most of which have never audited our records. Accordingly, we are subject to state and local income tax examinations based upon the various statutes of limitations in each jurisdiction. For tax years before 2011, the Company is no longer subject to California, Texas and certain state tax examinations. For tax years before 2012, the Company is no longer subject to Federal and certain other state tax examinations. We are currently being examined by the Franchise Tax Board of California for tax years 2011 and 2012, and the State of New York for tax years 2011, 2012, and 2013.

Earnings per Share

Earnings per Share	6 Months Ended
	Jun. 30, 2016
Earnings Per Share [Abstract]
Earnings per Share	Earnings per Share For the three and six months ended June 30, 2016 and 2015 , basic income per share is calculated by dividing net income by the sum of the weighted average number of shares of Common Stock outstanding during the period. Diluted income per share is calculated by dividing net income by the weighted average number of shares of Common Stock and dilutive common share equivalents outstanding during the period. Common share equivalents consist of stock options, restricted stock units, and performance stock units. When there is a loss in the period, dilutive common share equivalents are excluded from the calculation of diluted earnings per share, as their effect would be anti-dilutive. For example, for the six months ended June 30, 2015, dilutive common share equivalents have been excluded, and diluted weighted average shares outstanding are the same as basic average shares outstanding. When there is net income in the period, the Company excludes stock options, restricted stock units, and performance stock units from the calculation of diluted earnings per share when the combined exercise price, unamortized fair value and excess tax benefits of the options exceed the average market price of the Company's common stock because their effect would be anti-dilutive. For the three months ended June 30, 2016 and June 30, 2015, the Company excluded 3,598,325 and 3,739,208 options, respectively, from the calculation of diluted earnings per share because their effect would be anti-dilutive. For the six months ended June 30, 2016, the Company excluded 4,472,779 options from the calculation of diluted earnings per share because their effect would be anti-dilutive. The following table reconciles the basic to diluted weighted average shares outstanding using the treasury stock method (shares in thousands): Three Months Ended Six Months Ended 2016 2015 2016 2015 Weighted average shares outstanding – basic 50,075 49,388 49,860 49,373 Dilutive effect of stock options 452 572 487 — Weighted average shares outstanding – diluted 50,527 49,960 50,347 49,373

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2016
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events On July 26, 2016, Performant Business Services, Inc., which is a wholly-owned subsidiary of Performant Financial Corporation (the “Company”) and is the borrower under that certain Credit Agreement dated as March 19, 2012 with Madison Capital Funding LLC, as agent (the “Agent”) and the lenders party thereto from time to time (as amended, the “Credit Agreement”) , entered into Amendment No. 5 to the Credit Agreement (the “Fifth Amendment”). The Company and certain other of its subsidiaries are guarantors of the obligations under the Credit Agreement. Pursuant to the Fifth Amendment, our financial covenants were modified as follows: • The total debt to EBITDA ratio of 3.25 to 1.0, which was in effect for the computation period ending as of September 30, 2017, has been revised under the Fifth Amendment to be 4.75 to 1.0 for that period. • The interest coverage ratio, which was not in effect for the computation period ending as of September 30, 2017, has been revised under the Fifth Amendment to be 1.75 to 1.0 for that period. • The fixed charge coverage ratio of 1.20 to 1.0, which was in effect for the computation period ending as of September 30, 2017, has been revised under the Fifth Amendment to no longer apply to that period. Our obligation to apply, on an annual basis, a percentage, which may fluctuate between 25% and 75% (determined based upon our total debt to EBITDA ratio), of its annual excess cash flow as a mandatory prepayment of the loans under the Credit Agreement has also been modified. Pursuant to the Fifth Amendment, we will be required to apply 75% of our excess cash flow each quarter as a mandatory prepayment of the loans under the Credit Agreement. In addition, without the consent of the Agent and lenders holding more than 50% of the revolving loan commitments under the Credit Agreement, we will no longer be permitted to request revolving loans; however, this will not affect our ability to utilize the letter of credit sub-facility under Credit Agreement. In connection with the Fourth Amendment, we deposited $7.5 million into a deposit account which is subject to the exclusive control of the Agent. Pursuant to the Fifth Amendment, the date on which these funds will be remitted to the Agent for application to the term loans or other obligations, as applicable, under the Credit Agreement has been extended by one month, to October 31, 2016 (or such later date not more than thirty days (30) days thereafter as may be agreed by Agent in its sole discretion). However, all or a portion of these funds may also be returned to us if the Agent and the requisite lenders under the Credit Agreement elect otherwise in their sole discretion. These funds may also be remitted in accordance with the foregoing sentence prior to October 31, 2016 if an event of default has occurred and is continuing under the Credit Agreement.

Organization and Description 15

Organization and Description of Business (Policies)	6 Months Ended
	Jun. 30, 2016
Accounting Policies [Abstract]
Basis of Presentation and Organization	Basis of Presentation and Organization The accompanying unaudited consolidated financial statements have been prepared in accordance with U.S. Generally Accepted Accounting Principles, or U.S. GAAP, for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and notes required by U.S. GAAP for complete financial statements. In the opinion of management, the unaudited interim financial statements furnished herein include all adjustments necessary (consisting only of normal recurring adjustments) for a fair presentation of our and our subsidiaries’ financial position at June 30, 2016 , the results of our operations for the three and six months ended June 30, 2016 and 2015 and cash flows for the six months ended June 30, 2016 and 2015 . Interim financial statements are prepared on a basis consistent with our annual consolidated financial statements. The interim financial statements included herein should be read in conjunction with the consolidated financial statements and related notes included in our annual report on Form 10-K for the years ended December 31, 2015, 2014, and 2013. The Company is a leading provider of technology-enabled recovery and analytics services in the United States. The Company's services help identify, restructure and recover delinquent or defaulted assets and improper payments for both government and private clients in a broad range of markets. Company clients typically operate in complex and regulated environments and outsource their recovery needs in order to reduce losses on billions of dollars of defaulted student loans, improper healthcare payments and delinquent state tax and federal treasury receivables. The Company generally provides services on an outsourced basis, where we handle many or all aspects of the clients’ recovery processes. The Company's consolidated financial statements include the operations of Performant Financial Corporation (PFC), its wholly owned subsidiary Performant Business Services, Inc., and its wholly owned subsidiaries Performant Recovery, Inc. (Recovery) and Performant Technologies, Inc. PFC is a Delaware corporation headquartered in California and was formed in 2003. Performant Business Services, Inc. is a Nevada corporation founded in 1997. Recovery is a California corporation founded in 1976. Performant Technologies, Inc. is a California corporation that was formed in 2004. All significant intercompany balances and transactions have been eliminated in consolidation. The Company is managed and operated as one business, with a single management team that reports to the Chief Executive Officer. The preparation of the consolidated financial statements in conformity with U.S. GAAP, requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities, primarily accounts receivable, intangible assets, goodwill, estimated liability for appeals, accrued expenses, and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting periods. Our actual results could differ from those estimates.
Revenues, Accounts Receivable, and Estimated Liability for Appeals	Revenues, Accounts Receivable, and Estimated Liability for Appeals Revenue is recognized upon the collection of defaulted loan and debt payments. Loan rehabilitation revenue is recognized when the rehabilitated loans are sold (funded) by clients. Incentive revenue is recognized upon receipt of official notification of incentive award from customers. Under the Company’s Medicare Recovery Audit Contractor, or RAC, contract with Centers for Medicare and Medicaid Services, or CMS, the Company recognizes revenues when the healthcare provider has paid CMS for a given claim or has agreed to an offset against other claims by the provider. Providers have the right to appeal a claim and may pursue additional appeals if the initial appeal is found in favor of CMS. The Company accrues an estimated liability for appeals at the time revenue is recognized based on the Company's estimate of the amount of revenue probable of being refunded to CMS following successful appeal. In addition, if the Company's estimate of the liability for appeals with respect to revenues recognized during a prior period changes, the Company increases or decreases current period accruals based on such change in estimated liability. At June 30, 2016 a total of $19.1 million was presented as an allowance against revenue, representing the Company’s estimate of claims audited under the CMS contract that may be overturned. Of this, an immaterial amount was related to accounts receivable and $19.1 million was related to commissions which had already been received. The zero allowance against accounts receivable at June 30, 2016 is due to the fact that the receivable from CMS is netted against an offsetting payable for overturned audits, and at June 30, 2016 , the amount of the payable exceeded the amount of the receivable as discussed in note 1(c). In addition to the $19.1 million related to the RAC contract with CMS, the Company has accrued $0.3 million of additional estimated liability for appeals related to other healthcare contracts. The total accrued liability for appeals of $19.4 million has been presented in the caption estimated liability for appeals at June 30, 2016 . At December 31, 2015, the total appeals-related liability was $19.1 million . The $19.4 million balance at June 30, 2016 and $19.1 million balance at December 31, 2015, represent the Company’s best estimate of the probable amount of losses related to appeals of claims for which commissions were previously collected. In addition to the $19.4 million amount accrued at June 30, 2016 , the Company estimates that it is reasonably possible that it could be required to pay an additional amount up to approximately $5.4 million as a result of potentially successful appeals. To the extent that required payments by the Company exceed the amount accrued, revenues in the applicable period would be reduced by the amount of the excess.
Impairment of Long-lived Assets	Impairment of Long-Lived Assets Long-lived assets are evaluated for impairment whenever events or changes in circumstances indicate that the carrying amount of such assets or intangibles may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of the assets to future undiscounted net cash flows expected to be generated by the assets. If such assets are considered to be impaired, the impairment to be recognized is measured by the amount by which the carrying amount of the assets exceeds the fair value of the assets. There was no impairment expense for long-lived assets for the six months ended June 30, 2016. For the six months ended June 30, 2015, an impairment expense of $0.2 million was recognized to account for the loss of a client and it has been included in other operating expenses in the consolidated statements of operations.
Recent Accounting Pronouncements	Recent Accounting Pronouncements Recently Issued Accounting Standards In May 2014, FASB issued an ASU that amends the FASB ASC by creating a new Topic 606, Revenue from Contracts with Customers. The new guidance will supersede the revenue recognition requirements in Topic 605, Revenue Recognition, and most industry-specific guidance on revenue recognition throughout the Industry Topics of the Codification. The core principle of the guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. To achieve that core principle, an entity should apply the following steps: Step 1: Identify the contract(s) with a customer. Step 2: Identify the performance obligations in the contract. Step 3: Determine the transaction price. Step 4: Allocate the transaction price to the performance obligations in the contract. Step 5: Recognize revenue when (or as) the entity satisfies a performance obligation. In addition, an entity should disclose sufficient qualitative and quantitative information to enable users of financial statements to understand the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. Early adoption is not permitted. This amendment is to be either retrospectively adopted to each prior reporting period presented or retrospectively with the cumulative effect of initially applying this ASU recognized at the date of initial application. On July 9, 2015, the FASB decided to defer the effective date by one year, to annual reporting periods beginning on or after December 15, 2017, including interim periods within that reporting period. The FASB also voted to permit early adoption of the guidance but no earlier than the original effective date. The Company is currently evaluating the impact of the adoption of this guidance on its consolidated financial statements. In August 2014, the FASB issued Accounting Standards Update No. 2014-15, “Presentation of Financial Statements - Going Concern”, which addresses management’s responsibility to evaluate whether there is substantial doubt about an entity’s ability to continue as a going concern and to provide related footnote disclosures. Management’s evaluation should be based on relevant conditions and events that are known, and reasonably knowable, at the date that the financial statements are issued. This new guidance will be effective for the first interim period within annual reporting periods beginning after December 31, 2016 with early adoption permitted. We have not adopted this guidance early and are currently evaluating the effect on our consolidated financial statements. In November 2015, the FASB issued ASU 2015-17, “Income Taxes: Balance Sheet Classification of Deferred Taxes” which simplifies the current presentation of separately classifying deferred tax assets and deferred tax liabilities as current and noncurrent in a classified balance sheet by requiring companies to present them as noncurrent. This new guidance is effective for annual reporting periods beginning after December 15, 2016, including interim periods within such annual reporting periods with early adoption permitted. We have not adopted this guidance early and are currently evaluating the effect on our consolidated financial statements. In February 2016, the FASB issued ASU 2016-02, “Leases”, which, for operating leases, requires a lessee to recognize a right-of-use asset and a lease liability, initially measured at the present value of the lease payments, in its balance sheet. The standard also requires a lessee to recognize a single lease cost, calculated so that the cost of the lease is allocated over the lease term, on a generally straight-line basis. This new guidance is effective for annual reporting periods beginning after December 15, 2018 with early adoption permitted. We have not adopted this guidance early and are currently evaluating the effect on our consolidated financial statements. In March 2016, the FASB issued ASU 2016-09, “Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting”. The standard is intended to simplify several areas of accounting for share-based compensation arrangements, including the income tax impact, classification on the statement of cash flows and forfeitures. This new guidance is effective for annual reporting periods, and interim periods within those years, beginning after December 15, 2016, and early adoption is permitted. We have not adopted this guidance early and are currently evaluating the effect on our consolidated financial statements.

Property, Equipment, and Leas16

Property, Equipment, and Leasehold Improvements (Tables)	6 Months Ended
	Jun. 30, 2016
Property, Plant and Equipment [Abstract]
Property, Equipment, and Leasehold Improvements	Property, equipment, and leasehold improvements consist of the following at June 30, 2016 and December 31, 2015 (in thousands): June 30, December 31, Land $ 1,122 $ 1,122 Building and leasehold improvements 6,093 6,053 Furniture and equipment 5,408 5,390 Computer hardware and software 69,918 67,353 82,541 79,918 Less accumulated depreciation and amortization (58,324 ) (54,403 ) Property, equipment and leasehold improvements, net $ 24,217 $ 25,515

Credit Agreement (Tables)

Credit Agreement (Tables)	6 Months Ended
	Jun. 30, 2016
Debt Disclosure [Abstract]
Payments Under Credit Agreement	Scheduled payments under the Agreement, as modified by the Fourth Amendment, for the next five years and thereafter are as follows (in thousands): Year Ending December 31, Amount Remainder of 2016 $ 12,038 2017 3,959 2018 51,223 2019 — 2020 — Thereafter — Total $ 67,220

Commitments and Contingencies (

Commitments and Contingencies (Tables)	6 Months Ended
	Jun. 30, 2016
Commitments and Contingencies Disclosure [Abstract]
Future Minimum Rental Commitments Under Non-Cancelable Leases	Future minimum rental commitments under non-cancelable leases as of June 30, 2016 are as follows (in thousands): Year Ending December 31, Amount Remainder of 2016 $ 1,098 2017 1,766 2018 943 2019 873 2020 843 Thereafter 310 Total $ 5,833

Stock-based Compensation (Table

Stock-based Compensation (Tables)	6 Months Ended
	Jun. 30, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock Option Activity	The following table shows stock option activity for the six months ended June 30, 2016 : Outstanding Options Weighted average exercise price per share Weighted average remaining contractual life (Years) Aggregate Intrinsic Value (in thousands) Outstanding at December 31, 2015 4,117,123 $ 6.92 5.64 $ 1,211 Granted 115,000 1.74 Forfeited (299,561 ) 8.12 Exercised (390,767 ) 0.85 Outstanding at June 30, 2016 3,541,795 $ 7.32 5.55 $ 700 Vested, exercisable, expected to vest (1) at June 30, 2016 3,498,156 $ 7.32 5.53 $ 700 Exercisable at June 30, 2016 2,637,590 $ 7.10 4.91 $ 700 (1) Options expected to vest reflect an estimated forfeiture rate.
Restricted Stock Activity	The following table summarizes restricted stock unit and performance stock unit activity for the six months ended June 30, 2016 : Number of Awards Weighted average grant date fair value per share Outstanding at December 31, 2015 1,229,274 $ 4.67 Granted 1,415,954 1.73 Forfeited (128,850 ) 4.30 Vested and converted to shares (418,484 ) 3.33 Outstanding at June 30, 2016 2,097,894 $ 2.98 Expected to vest at June 30, 2016 1,993,048 $ 2.98

Earnings per Share (Tables)

Earnings per Share (Tables)	6 Months Ended
	Jun. 30, 2016
Earnings Per Share [Abstract]
Reconciliation of Basic to Diluted Weighted Average Shares	The following table reconciles the basic to diluted weighted average shares outstanding using the treasury stock method (shares in thousands): Three Months Ended Six Months Ended 2016 2015 2016 2015 Weighted average shares outstanding – basic 50,075 49,388 49,860 49,373 Dilutive effect of stock options 452 572 487 — Weighted average shares outstanding – diluted 50,527 49,960 50,347 49,373

Organization and Description 21

Organization and Description of Business - Additional Information (Detail)	1 Months Ended	3 Months Ended	6 Months Ended
	Feb. 29, 2016USD ($)	Jun. 30, 2016USD ($)	Jun. 30, 2016USD ($)segment	Jun. 30, 2015USD ($)	Dec. 31, 2015USD ($)
Accounting Policies [Abstract]
Number of operating segments | segment			1
Allowance against revenue		$ 19,100,000	$ 19,100,000
Estimated allowance for appeals		0	0
Estimated allowance for appeals, healthcare contracts		300,000	300,000
Estimated liability for appeals		19,405,000	19,405,000		$ 19,118,000
Probable amount of losses		19,400,000	19,400,000
Estimated additional liability for appeals		5,400,000	5,400,000
Customer refund liability, current		14,793,000	14,793,000		14,400,000
Invoiced receivable					1,000,000
Customer refund liability, current, gross					15,400,000
Subcontractor receivables		5,700,000	5,700,000		5,700,000
Estimated provider-favor receivables		5,700,000	5,700,000
Subcontractor fees for overturned audits		3,900,000	3,900,000		3,800,000
Impairment		0		$ 200,000
Restricted cash		$ 7,511,000	7,511,000		$ 0
Restricted cash for repayment of notes payable	$ 7,500,000		$ 7,511,000	$ 0

Property, Equipment, and Leas22

Property, Equipment, and Leasehold Improvements (Detail) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Property, Plant and Equipment [Line Items]
Property, equipment and leasehold equipment, gross	$ 82,541	$ 79,918
Less accumulated depreciation and amortization	(58,324)	(54,403)
Property, equipment and leasehold improvements, net	24,217	25,515
Land
Property, Plant and Equipment [Line Items]
Property, equipment and leasehold equipment, gross	1,122	1,122
Building and leasehold improvements
Property, Plant and Equipment [Line Items]
Property, equipment and leasehold equipment, gross	6,093	6,053
Furniture and equipment
Property, Plant and Equipment [Line Items]
Property, equipment and leasehold equipment, gross	5,408	5,390
Computer hardware and software
Property, Plant and Equipment [Line Items]
Property, equipment and leasehold equipment, gross	$ 69,918	$ 67,353

Property, Equipment, and Leas23

Property, Equipment, and Leasehold Improvements - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Property, Plant and Equipment [Abstract]
Depreciation and amortization expense of property, equipment and leasehold improvements	$ 2.4	$ 2.3	$ 4.9	$ 4.7

Credit Agreement (Details)

Credit Agreement (Details)	Sep. 30, 2017	Feb. 19, 2016USD ($)	Nov. 04, 2014	Jun. 30, 2017	Dec. 31, 2016USD ($)	Dec. 31, 2016USD ($)	Dec. 31, 2016USD ($)	Sep. 30, 2016USD ($)
Second Amendment
Debt Instrument [Line Items]
Interest coverage ratio			1.20
Amendment Number Four to Credit Agreement
Debt Instrument [Line Items]
Repayments		$ 22,500,000
Collateral		$ 7,500,000
Repayment period		30 days
Scenario, Forecast | Second Amendment
Debt Instrument [Line Items]
Capital expenditures							$ 12,500,000
Total debt to EBITDA ratio				3.25
Interest coverage ratio					2.50
Minimum cash balances					$ 30,000,000	$ 30,000,000	30,000,000
EBITDA						$ 20,000,000
Scenario, Forecast | Amendment Number Four to Credit Agreement
Debt Instrument [Line Items]
Capital expenditures							$ 8,000,000
Total debt to EBITDA ratio	3.25			4.75
Interest coverage ratio				1.75	2
Minimum cash balances								$ 10,000,000
Maximum | Term Loan A | Second Amendment | Prime Rate
Debt Instrument [Line Items]
Interest rate (as a percent)		5.75%
Maximum | Term Loan A | Second Amendment | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Interest rate (as a percent)		6.75%
Maximum | Term B Loan | Second Amendment | Prime Rate
Debt Instrument [Line Items]
Interest rate (as a percent)		6.25%
Maximum | Term B Loan | Second Amendment | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Interest rate (as a percent)		7.25%

Credit Agreement Payments Under

Credit Agreement Payments Under Credit Agreement (Detail) $ in Thousands	Jun. 30, 2016USD ($)
Debt Disclosure [Abstract]
Remainder of 2016	$ 12,038
2,017	3,959
2,018	51,223
2,019	0
2,020	0
Thereafter	0
Total	$ 67,220

Commitments and Contingencies F

Commitments and Contingencies Future Minimum Rental Commitments Under Non-Cancelable Leases (Detail) $ in Thousands	Jun. 30, 2016USD ($)
Commitments and Contingencies Disclosure [Abstract]
Remainder of 2016	$ 1,098
2,017	1,766
2,018	943
2,019	873
2,020	843
Thereafter	310
Total	$ 5,833

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Commitment And Contingencies [Line Items]
Operating lease expense	$ 0.7	$ 0.7	$ 1.4	$ 1.5
Minimum
Commitment And Contingencies [Line Items]
Non-cancelable operating lease agreements expiration date			2,016
Maximum
Commitment And Contingencies [Line Items]
Non-cancelable operating lease agreements expiration date			2,021

Stock-based Compensation - Addi

Stock-based Compensation - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	$ 1.1	$ 1.2	$ 2.3	$ 2.2
Minimum | Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options vesting period (in years)			4 years
Minimum | Restricted Stock and Performance Stock Units | 2012 Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options vesting period (in years)			1 year
Maximum | Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options vesting period (in years)			5 years
Maximum | Restricted Stock and Performance Stock Units | 2012 Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options vesting period (in years)			4 years

Stock-based Compensation Stock

Stock-based Compensation Stock Option Activity (Detail) - Options - USD ($) $ / shares in Units, $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2016	Dec. 31, 2015
Outstanding Options (in shares)
Balance at beginning of period (in shares)	4,117,123
Granted (in shares)	115,000
Forfeited (in shares)	(299,561)
Exercised (in shares)	(390,767)
Balance at end of period (in shares)	3,541,795	4,117,123
Vested, exercisable, and expected to vest (in shares)	3,498,156
Exercisable (in shares)	2,637,590
Weighted average exercise price per share (in dollars per share)
Balance at beginning of period (in dollars per share)	$ 6.92
Granted (in dollars per share)	1.74
Forfeited (in dollars per share)	8.12
Exercised (in dollars per share)	0.85
Balance at end of period (in dollars per share)	7.32	$ 6.92
Vested or expected to vest (in dollars per share)	7.32
Exercisable (in dollars per share)	$ 7.10
Weighted average remaining contractual life (in years)
Balance at beginning of period (in dollars per share)	5 years 6 months 18 days	5 years 7 months 21 days
Balance at end of period (in dollars per share)	5 years 6 months 18 days	5 years 7 months 21 days
Vested, exercisable, and expected to vest (in dollars per share)	5 years 6 months 10 days
Exercisable (in dollars per share)	4 years 10 months 27 days
Aggregate Intrinsic Value
Balance at beginning of period	$ 1,211
Balance at end of period	700	$ 1,211
Vested, exercisable, and expected to vest	700
Exercisable	$ 700

Stock-based Compensation Restri

Stock-based Compensation Restricted Stock and Performance Stock Units Activity (Details) - Restricted Stock and Performance Stock Units - $ / shares	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2016
Number of Awards (in shares)
Outstanding at beginning of period (in shares)	1,229,274
Granted (in shares)	1,415,954
Forfeited (in shares)	(128,850)
Vested and converted to shares (in shares)	(418,484)
Outstanding at end of period (in shares)	2,097,894
Expected to vest (in shares)		1,993,048
Weighted average grant date fair value per share (in dollars per share)
Outstanding beginning of period (in dollars per share)	$ 4.67
Granted (in dollars per share)	1.73
Forfeited (in dollars per share)	4.30
Vested and converted to shares (in dollars per share)	3.33
Outstanding end of period (in dollars per share)	2.98
Expected to vest end of period (in dollars per share)	$ 4.67	$ 2.98

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail)	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Income Tax Disclosure [Abstract]
Effective income tax rate (as a percent)	40.00%	32.10%

Earnings per Share - Additional

Earnings per Share - Additional Information (Detail) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016
Earnings Per Share [Abstract]
Antidilutive securities excluded (in shares)	3,598,325	3,739,208	4,472,779

Earnings per Share Reconciliati

Earnings per Share Reconciliation of Basic to Diluted Weighted Average Shares (Detail) - shares shares in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Earnings Per Share [Abstract]
Weighted average shares outstanding – basic (in shares)	50,075	49,388	49,860	49,373
Dilutive effect of stock options (in shares)	452	572	487	0
Weighted average shares outstanding – diluted (in shares)	50,527	49,960	50,347	49,373

Subsequent Events - Narrative (

Subsequent Events - Narrative (Details) $ in Millions	Sep. 30, 2017	Jul. 26, 2016	Feb. 19, 2016USD ($)	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016
Amendment Number Four to Credit Agreement
Subsequent Event [Line Items]
Collateral			$ 7.5
Repayment period			30 days
Amendment Number Four to Credit Agreement | Minimum
Subsequent Event [Line Items]
Mandatory prepayment (as a percent)					25.00%
Amendment Number Four to Credit Agreement | Maximum
Subsequent Event [Line Items]
Mandatory prepayment (as a percent)					75.00%
Amendment Number Four to Credit Agreement | Scenario, Forecast
Subsequent Event [Line Items]
Total debt to EBITDA ratio	3.25			4.75
Interest coverage ratio				1.75		2
Subsequent Event | Amendment Number Four to Credit Agreement | Scenario, Forecast
Subsequent Event [Line Items]
Interest coverage ratio	1.20
Subsequent Event | Amendment Number Five To Credit Agreement
Subsequent Event [Line Items]
Mandatory prepayment (as a percent)		75.00%
Debt Instrument, Lender Holding Percentage		50.00%
Subsequent Event | Amendment Number Five To Credit Agreement | Scenario, Forecast
Subsequent Event [Line Items]
Total debt to EBITDA ratio	4.75
Interest coverage ratio	1.75