Textura (TXTR) 10-Q 31 Jul 15 2015 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information Document - shares	6 Months Ended
	Jun. 30, 2015	Jul. 24, 2015
Document and Entity Information [Abstract]
Common Stock, Shares, Outstanding	25,860,000
Entity Registrant Name	Textura Corporation
Entity Central Index Key	1,565,337
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Document Type	10-Q
Document Period End Date	Jun. 30, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q2
Amendment Flag	false
Entity Common Stock, Shares Outstanding		25,859,751

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Current assets
Cash and cash equivalents	$ 67,980	$ 66,758
Accounts receivable, net of allowance for doubtful accounts of _____ and $254 at March 31, 2015 and December 31, 2014, respectively	9,520	8,274
Prepaid expenses and other current assets	1,282	1,163
Total current assets	78,782	76,195
Property and equipment, net	32,161	26,103
Restricted cash	2,180	1,780
Goodwill	52,848	52,848
Intangible assets, net	10,025	12,132
Other assets	1,331	226
Total assets	177,327	169,284
Current liabilities
Accounts payable	1,874	1,699
Accrued expenses	10,520	9,874
Deferred revenue, short-term	37,133	31,923
Notes and leases payable, short-term	4	412
Total current liabilities	49,531	43,908
Deferred revenue, long-term	4,364	3,660
Other long-term liabilities	1,155	1,028
Total liabilities	55,050	48,596
Stockholders’ equity
Common stock, $.001 par value; 90,000 shares authorized; _______ and 26,247 shares issued and ______ and 25,588 shares outstanding at March 31, 2015 and December 31, 2014, respectively	26	26
Additional paid in capital	348,031	340,344
Treasury stock, at cost; ____ and 659 shares at March 31, 2015 and December 31, 2014, respectively	(10,013)	(9,923)
Accumulated other comprehensive loss	(428)	(340)
Accumulated deficit	(215,339)	(209,419)
Stockholders' Equity Attributable to Parent	122,277	120,688
Total liabilities, redeemable securities and stockholders’ equity	$ 177,327	$ 169,284

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2015	Dec. 31, 2014
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 issued	0	0
Preferred stock, shares outstanding	0	0

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Preferred Stock Conversions, Inducements	$ 0	$ 0	$ 0	$ 0
Net Income (Loss) Available to Common Stockholders, Basic	(2,853)	(6,079)	(5,920)	(13,438)
Revenues	21,283	14,965	40,484	28,752
Operating expenses
Cost of services (exclusive of depreciation and amortization shown separately below)	3,750	3,028	7,328	5,910
General and administrative	7,649	6,473	14,481	12,528
Sales and marketing	5,379	4,663	10,572	9,506
Technology and development	5,190	4,819	9,899	10,175
Depreciation and amortization	2,089	1,962	3,965	3,848
Total operating expenses	24,057	20,945	46,245	41,967
Loss from operations	(2,774)	(5,980)	(5,761)	(13,215)
Other expense, net
Interest income and other expense, net	5	27	20	45
Interest expense	(4)	(35)	(15)	(78)
Total other expense, net	1	(8)	5	(33)
Loss before income taxes	(2,773)	(5,988)	(5,756)	(13,248)
Income tax provision	80	80	164	160
Net loss	(2,853)	(6,068)	(5,920)	(13,408)
Less: Net loss attributable to non-controlling interest	0	(94)	0	(169)
Net Income (Loss) Attributable to Parent	$ (2,853)	(5,974)	(5,920)	(13,239)
Accretion of redeemable securities		$ 105	$ 0	$ 199
Net loss per share available to Textura Corporation common stockholders, basic and diluted	$ (0.11)	$ (0.24)	$ (0.23)	$ (0.54)
Weighted average number of common shares outstanding, basic and diluted	25,774	25,001	25,707	24,908
Redeemable Preferred Stock [Member]
Other expense, net
Accretion of redeemable securities	$ 0	$ 0	$ 0	$ 0
Redeemable Non-Controlling Interest [Member]
Other expense, net
Accretion of redeemable securities	0		0	199
Contingent Convertible Preferred Stock [Member]
Other expense, net
Preferred Stock Dividends, Income Statement Impact	$ 0	$ 0	$ 0	$ 0

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Loss Statement - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Statement of Comprehensive Income [Abstract]
Net loss	$ (2,853)	$ (6,068)
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Gain (Loss) Arising During Period, Net of Tax	(46)	(4)
Comprehensive loss	(2,899)	(6,072)
Less: Comprehensive loss attributable to non-controlling interests	0	(97)
Comprehensive loss attributable to Textura Corporation	$ (2,899)	$ (5,975)

Condensed Consolidated Stateme6

Condensed Consolidated Statement of Redeemable Non-Controlling Interest and Stockholders' Equity - Jun. 30, 2015 - USD ($) shares in Thousands, $ in Thousands	Total
Textura Corporation Stockholders' Equity (Deficit) [Member]
Changes Stockholders' Equity
Stockholders' equity, beginning balance	$ 120,688
Stockholders' equity, beginning balance	$ 122,277
Common Stock [Member]
Changes Stockholders' Equity
Shares outstanding, beginning balance	25,588
Stockholders' equity, beginning balance	$ 26
Shares outstanding, ending balance	25,860
Stockholders' equity, beginning balance	$ 26
Additional Paid-in Capital [Member]
Changes Stockholders' Equity
Stockholders' equity, beginning balance	340,344
Stockholders' equity, beginning balance	348,031
Treasury Stock [Member]
Changes Stockholders' Equity
Stockholders' equity, beginning balance	(9,923)
Stockholders' equity, beginning balance	(10,013)
Accumulated Other Comprehensive Loss [Member]
Changes Stockholders' Equity
Stockholders' equity, beginning balance	(340)
Stockholders' equity, beginning balance	(428)
Accumulated Deficit [Member]
Changes Stockholders' Equity
Stockholders' equity, beginning balance	(209,419)
Stockholders' equity, beginning balance	$ (215,339)

Condensed Consolidated Stateme7

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Interest Paid			$ 15	$ 78
Property and Equipment Balances, Accounts Payable and Accrued Expenses	$ 800	$ 596	800	596
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Gain (Loss) Arising During Period, Net of Tax	(46)	(4)
Cash flows from operating activities
Net loss	(2,853)	(6,068)	(5,920)	(13,408)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	2,089	1,962	3,965	3,848
Deferred Income Tax Expense (Benefit)			160	160
Non-cash interest expense (income)			0	(1)
Share‑based compensation			4,620	3,766
Changes in operating assets and liabilities, net of acquisitions:
Accounts receivable			(1,247)	(1,618)
Prepaid expenses and other assets			(202)	105
Deferred revenue, including long-term portion			5,914	5,317
Accounts payable			(13)	582
Accrued expenses and other			517	220
Net cash provided by (used in) operating activities			7,794	(1,029)
Cash flows from investing activities
Increase (Decrease) in Restricted Cash			(1,226)	0
Purchases of property and equipment, including software development costs			(7,890)	(3,625)
Net cash used in investing activities			(9,116)	(3,625)
Cash flows from financing activities
Principal payments on loan payable			0	(99)
Payments on capital leases			(408)	(397)
Proceeds from exercise of options and warrants			3,067	1,552
Payments for Repurchase of Common Stock			(91)	(4,096)
Net cash provided by financing activities			2,568	(4,603)
Effect of changes in foreign exchange rates on cash and cash equivalents			(24)	5
Net increase (decrease) in cash and cash equivalents			1,222	(9,252)
Cash and cash equivalents, beginning of period		67,878	66,758	77,130
Cash and cash equivalents, end of period	67,980		67,980
Supplemental Cash Flow Information [Abstract]
Accretion		105	0	199
Net Income (Loss) Available to Common Stockholders, Basic	(2,853)	$ (6,079)	(5,920)	(13,438)
Payment to Acquire Non-controlling Interest, Equity			0	(1,563)
Redeemable Non-Controlling Interest [Member]
Supplemental Cash Flow Information [Abstract]
Accretion	$ 0		$ 0	$ 199

Size of office facility, square

Size of office facility, square feet Statement	Jun. 30, 2015ft²
Operating Leased Assets [Line Items]
Size of office facility, square feet	23,000

Description of Business

Description of Business	6 Months Ended
	Jun. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business	Description of Business Textura Corporation (‘‘we,’’ ‘‘us,’’ ‘‘our,’’ or the ‘‘Company’’) was originally formed as a Wisconsin limited liability company (Textura, LLC) in 2004 and converted to a Delaware corporation in 2007. We provide on-demand business collaboration software solutions to the commercial construction industry. Our solutions increase efficiency, permit better risk management, provide better visibility and control of construction activities to clients and address several mission-critical business processes at various stages of the construction project life cycle. We are subject to a number of risks similar to other companies in a comparable stage of growth including, but not limited to, reliance on key personnel, the ability to access capital to support future growth, successful marketing of our solutions in an emerging market, and competition from other companies with potentially greater technical, financial and marketing resources. We have incurred significant losses and continue to devote the majority of our resources to the growth of our business. We had an accumulated deficit of $215.3 million as of June 30, 2015 . To date, our activities have been financed primarily through the issuance of debentures, commercial debt, and the sale of equity securities.

Property and Equipment

Property and Equipment	6 Months Ended
	Jun. 30, 2015
Property, Plant and Equipment [Abstract]
Property and Equipment	Property and Equipment The following is a summary of property and equipment, at cost less accumulated depreciation, at June 30, 2015 and December 31, 2014 : June 30, 2015 December 31, 2014 (in thousands) Land $ 4,276 $ 4,276 Computer equipment 5,420 4,566 Furniture and fixtures 2,687 2,750 Leasehold improvements 145 124 Building 17,942 16,527 Capitalized software 15,875 11,968 Property and equipment, gross 46,345 40,211 Less: Accumulated depreciation and amortization (14,184 ) (14,108 ) Property and equipment, net $ 32,161 $ 26,103 Depreciation expense related to property and equipment was $742 and $606 , respectively, for the three months ended June 30, 2015 and 2014 and $1,422 and $1,143 , respectively, for the six months ended June 30, 2015 and 2014. Amortization expense related to capitalized software was $293 and $73 , respectively, for the three months ended June 30, 2015 and 2014 and $436 and $140 , respectively, for the six months ended June 30, 2015 and 2014. We capitalized software development costs of $1,550 and $1,684 , respectively, for the three months ended June 30, 2015 and 2014 and $3,510 and $2,632 , respectively, for the six months ended June 30, 2015 and 2014. In June 2015, we purchased the assets under our capital lease agreements. In connection with the termination of these leases, we wrote off the remaining net book value of $99 and recorded the new asset basis of $1,431 (see Note 9 for further details).

Contingencies

Contingencies	6 Months Ended
	Jun. 30, 2015
Commitments and Contingencies Disclosure [Abstract]
Contingencies	Contingencies We lease office space in various commercial buildings and have office equipment leases. For the office leases, we are also responsible for operating expenses and the leases escalation clauses. In March 2015, we entered into a new lease for approximately 23,000 square feet of office space in a commercial building in Chicago, Illinois. The lease term commenced in July 2015 and will expire in September 2027. The following is a schedule of future minimum rental payments required under all of our operating lease agreements as of June 30, 2015 for the years ending December 31: Amount (in thousands) 2015 $ 295 2016 774 2017 667 2018 527 2019 298 Thereafter 3,430 $ 5,991 On October 7, 2014, a putative class action lawsuit alleging violations of federal securities laws was filed in the U.S. District Court for the Northern District of Illinois, naming as defendants the Company and certain of its executive officers. An amended complaint was filed on February 17, 2015. The amended complaint alleges violations of the Securities Exchange Act of 1934 by the Company and its executive officers for making allegedly materially false and misleading statements and by failing to disclose allegedly material facts regarding its business and operations between June 7, 2013 and September 29, 2014. The plaintiffs seek unspecified monetary damages and other relief. We believe the lawsuit is without merit and intend to defend the case vigorously. We filed a motion to dismiss on May 4, 2015. In addition, the Company is involved from time to time in legal claims and proceedings that arise in the normal course of its business. Although the results of these legal claims and proceedings cannot be predicted with certainty, we currently do not expect that any such legal claims or proceedings will have a material adverse effect on our cash flows, financial condition or results of operations.

Share-Based Compensation to Emp

Share-Based Compensation to Employees	6 Months Ended
	Jun. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	5. Share‑Based Compensation During the six months ended June 30, 2015 , we granted under the Long-Term Incentive Plan stock options to purchase 153 shares of our common stock with a weighted-average exercise price and weighted-average fair value of $26.22 and $9.83 , respectively. The fair value of the options was estimated using the Black‑Scholes option‑pricing model with the following weighted-average assumptions: Six Months Ended June 30, 2015 Expected dividend yield — Expected volatility 37.4 % Risk-free interest rate 1.61 % Expected term (years) 5.72 In September 2014, two co-founders of the Company retired from full-time employment with the Company and entered into consulting arrangements to provide certain transition services to the Company beginning in October 2014. Pursuant to the consulting arrangements, in October 2014, the former employees were collectively granted stock options to purchase 33 shares of our common stock. Such stock options vest over a period between six and twelve months, and we will recognize the expense for these non-employee options as they vest. Since they are non-employee stock awards, we began recognizing the expense based on the fair value of the awards at the end of each reporting period beginning in the three months ended December 31, 2014. Share-based compensation expense related to these non-employee options was $54 and $142 , respectively, for the three and six months ended June 30, 2015 . On April 29, 2015, the Board of Directors (the “Board”) of the Company appointed David Habiger as interim Chief Executive Officer effective April 30, 2015. Mr. Habiger replaces Patrick Allin, who continues with the Company as Executive Chairman. In connection with Mr. Habiger's employment with the Company as interim Chief Executive Officer, he and the Company entered into a letter agreement dated May 4, 2015, pursuant to which he was granted a restricted stock unit award with a fair value of $2,250 , which will cliff vest on May 4, 2016. In connection with Mr. Allin's transition to Executive Chairman, he and the Company entered into a Transition Agreement dated May 5, 2015, pursuant to which he was granted a restricted stock unit award with a fair value of $1,700 , which will cliff vest on April 1, 2016. Share-based compensation expense was $2,649 and $1,830 , respectively, for the three months ended June 30, 2015 and 2014 and $4,620 and $3,766 , respectively, for the six months ended June 30, 2015 and 2014. Share-based compensation expense is reflected in the following captions in the condensed consolidated statements of operations: Three Months Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 (in thousands) (in thousands) Cost of services $ 180 $ 156 $ 367 $ 308 General and administrative 2,030 1,049 3,346 2,240 Sales and marketing 233 324 499 636 Technology and development 206 301 408 582 Total $ 2,649 $ 1,830 $ 4,620 $ 3,766
Share-Based Compensation to Employees	Share‑Based Compensation During the six months ended June 30, 2015 , we granted under the Long-Term Incentive Plan stock options to purchase 153 shares of our common stock with a weighted-average exercise price and weighted-average fair value of $26.22 and $9.83 , respectively. The fair value of the options was estimated using the Black‑Scholes option‑pricing model with the following weighted-average assumptions: Six Months Ended June 30, 2015 Expected dividend yield — Expected volatility 37.4 % Risk-free interest rate 1.61 % Expected term (years) 5.72 In September 2014, two co-founders of the Company retired from full-time employment with the Company and entered into consulting arrangements to provide certain transition services to the Company beginning in October 2014. Pursuant to the consulting arrangements, in October 2014, the former employees were collectively granted stock options to purchase 33 shares of our common stock. Such stock options vest over a period between six and twelve months, and we will recognize the expense for these non-employee options as they vest. Since they are non-employee stock awards, we began recognizing the expense based on the fair value of the awards at the end of each reporting period beginning in the three months ended December 31, 2014. Share-based compensation expense related to these non-employee options was $54 and $142 , respectively, for the three and six months ended June 30, 2015 . On April 29, 2015, the Board of Directors (the “Board”) of the Company appointed David Habiger as interim Chief Executive Officer effective April 30, 2015. Mr. Habiger replaces Patrick Allin, who continues with the Company as Executive Chairman. In connection with Mr. Habiger's employment with the Company as interim Chief Executive Officer, he and the Company entered into a letter agreement dated May 4, 2015, pursuant to which he was granted a restricted stock unit award with a fair value of $2,250 , which will cliff vest on May 4, 2016. In connection with Mr. Allin's transition to Executive Chairman, he and the Company entered into a Transition Agreement dated May 5, 2015, pursuant to which he was granted a restricted stock unit award with a fair value of $1,700 , which will cliff vest on April 1, 2016. Share-based compensation expense was $2,649 and $1,830 , respectively, for the three months ended June 30, 2015 and 2014 and $4,620 and $3,766 , respectively, for the six months ended June 30, 2015 and 2014. Share-based compensation expense is reflected in the following captions in the condensed consolidated statements of operations: Three Months Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 (in thousands) (in thousands) Cost of services $ 180 $ 156 $ 367 $ 308 General and administrative 2,030 1,049 3,346 2,240 Sales and marketing 233 324 499 636 Technology and development 206 301 408 582 Total $ 2,649 $ 1,830 $ 4,620 $ 3,766

Warrants

Warrants	6 Months Ended
	Jun. 30, 2015
Other Liabilities Disclosure [Abstract]
Warrants	Warrants We did not issue any warrants during the six months ended June 30, 2015 . Warrants outstanding to purchase our common stock as of June 30, 2015 were as follows: Warrants Outstanding Weighted- Average Exercise Price Convertible debenture 276 $ 16.26 Convertible debenture 385 $ 13.25 Convertible debenture 48 $ 16.26 Mortgage renewal 20 $ 15.00 Convertible debenture 32 $ 13.25 Convertible debenture 49 $ 15.00 Convertible debenture 319 $ 15.00 Notes payable 86 $ 13.92 1,215

Employee Benefit Plans

Employee Benefit Plans	6 Months Ended
	Jun. 30, 2015
Compensation and Retirement Disclosure [Abstract]
Employee Benefit Plans	Employee Benefit Plans We sponsor a defined contribution savings plan for employees in the United States that provides certain of our eligible employees an opportunity to accumulate funds for retirement. After employees have attained one year of service, we match the contributions of participating employees on the basis specified by the plan, up to a maximum of 3% of participant compensation. We recorded total expense related to these plans in the amount of $182 and $145 , respectively, for the three months ended June 30, 2015 and 2014 and $353 and $271 , respectively, for the six months ended June 30, 2015 and 2014.

Severance Arrangements (Notes)

Severance Arrangements (Notes)	6 Months Ended
	Jun. 30, 2015
Postemployment Benefits (Severance Pay) [Abstract]
Severance Arrangements [Table Text Block]	8. Severance Arrangements In September 2014, two of our co-founders retired from full-time employment with the Company, and two other non-executive members of management were terminated from the Company. Pursuant to the severance arrangements provided in their respective employment and separation agreements, we recognized severance-related expenses of approximately $1,488 during the year ended December 31, 2014. This severance expense includes salary, payroll taxes and bonus payments to which the former employees were entitled under their respective arrangements. We expect to pay the remaining severance expense, which totaled $620 and was accrued as of June 30, 2015 , over the next four months. In addition, the retiring co-founders entered into consulting arrangements to provide certain transition services to the Company beginning in October 2014 and were granted stock options to purchase 33 shares of the Company’s common stock in connection with such arrangements. See Note 5 for further details of these share-based compensation arrangements.

Leases (Notes)

Leases (Notes)	6 Months Ended
	Jun. 30, 2015
Leases [Abstract]
Leases of Lessee Disclosure [Text Block]	9. Leases In March 2015, we entered into an agreement to lease approximately 23,000 square feet of office space in a commercial building in Chicago, Illinois. The lease term commenced in July 2015 and will expire in September 2027. We established a $400 letter of credit as security for the lease, which is recorded on the consolidated balance sheet as of June 30, 2015 as restricted cash. Under the terms of the lease, we were required to establish an escrow account in the amount of $1,879 , which is being used to fund a portion of the leasehold improvements that we plan to put into service. We will own the leasehold improvement assets until the expiration of the lease period and, as a result, will capitalize the leasehold improvement assets on the balance sheet as they are constructed. Once the assets are placed into service, we will amortize them using the straight-line method over the shorter of the remaining lease term or the estimated useful lives of the improvements. As of June 30, 2015, we had disbursed $1,053 related to the leasehold improvements, and there was $826 remaining in the escrow account, which is classified as a long-term asset on the consolidated balance sheet. We will recognize rent expense for the minimum lease payments on a straight-line basis over the term of the lease. The amount of rent expense in excess of cash payments will be classified as deferred rent. Any lease incentives such as rent abatements received will be deferred and amortized over the term of the lease. Future minimum lease payments for all of our operating leases are disclosed in Note 4 to the condensed consolidated financial statements.

Summary of Significant Accounti

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2015
Change in Accounting Estimate [Line Items]
Basis of Presentation and Principles of Consolidation	Basis of Presentation and Principles of Consolidation We have prepared these unaudited condensed consolidated financial statements in accordance with accounting principles generally accepted in the United States of America (‘‘U.S. GAAP’’). In accordance with U.S. GAAP requirements for interim financial statements, these condensed consolidated financial statements do not include certain information and note disclosures that are normally included in annual financial statements prepared in conformity with U.S. GAAP. Accordingly, these condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and the notes thereto as of December 31, 2014 and 2013 and for the fiscal year ended December 31, 2014, the three months ended December 31, 2013 and the fiscal years ended September 30, 2013 and 2012 included in our Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 6, 2015. In our opinion, the condensed consolidated financial statements contain all adjustments (which are of a normal, recurring nature) necessary to state fairly, in all material respects, our consolidated financial position, results of operations and cash flows for the periods presented. Interim results may not be indicative of results that may be realized for the full year.
Segment Reporting	Segment Reporting We have one operating segment, providing on-demand business collaboration software solutions to the commercial construction industry. Our chief operating decision maker, the Chief Executive Officer, manages our operations based on consolidated financial information for purposes of evaluating financial performance and allocating resources.
Use of Estimates	Use of Estimates The preparation of condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the 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. The estimates and assumptions used in the accompanying financial statements are based upon management’s evaluation of the relevant facts and circumstances at the balance sheet date. Actual results could differ from those estimates. Significant estimates are involved in our revenue recognition, depreciation, amortization and assumptions for share‑based payments.
Revenue Recognition	Revenue Recognition For our CPM, Submittal Exchange, Greengrade and Latista solutions, we earn revenue from owners/developers, general contractors and architects in the form of subscription fees and project fees; and from subcontractors in the form of usage fees. For our GradeBeam, PQM and BidOrganizer solutions, we earn revenue in the form of subscription fees. Our arrangements do not contain general rights of return and do not provide customers with the right to take possession of the software supporting the solutions and, as a result, are accounted for as service contracts. All of our on-demand solutions include training and support. We evaluate whether the individual deliverables in our revenue arrangements qualify as separate units of accounting. In order to treat deliverables in a multiple deliverable arrangement as separate units of accounting, the deliverables must have standalone value upon delivery. In determining whether deliverables have standalone value, we consider whether solutions are sold to new customers without training and support, the nature of the training and support provided and the availability of the training and support from other vendors. We concluded that training and support do not have standalone value because they are generally not sold separately, do not have value to the customer without the solution and are not available from other vendors. Accordingly, the training and support are combined with the solution and treated as a single unit of accounting. We recognize revenue when there is evidence that an agreement exists with the customer and the customer has begun deriving benefit from use of the solution, the fee is fixed and determinable, delivery of services has occurred, and collection of payment from the project participant is reasonably assured. We recognize project fees and usage fees ratably over the average estimated life of the project and contract, respectively, and recognize subscription fees over the subscription period. The average estimated life of the project and contract is estimated by management based on periodic review and analysis of historical data. The applicable estimated life is based on the project or contract value falling within certain predetermined ranges, as well as the solution on which the project is being managed. We perform periodic reviews of actual project and contract data and revise estimates as necessary. Estimated project life durations range from 6 to 32 months , and estimated contract life durations range from 4 to 20 months . Subscription periods typically range from 6 to 36 months . For our PlanSwift solution, we earn revenue from the sale of software licenses and related maintenance and training. License revenue is recognized upon delivery of the license, maintenance revenue is recognized ratably over the period of the maintenance contract, which is generally one year , and training revenue is recognized when the services are delivered to the client. For multiple-element arrangements that include a perpetual license for which we have not established vendor-specific objective evidence of fair value ("VSOE") and either maintenance or both maintenance and training, we use the residual method to determine the amount of license revenue to be recognized. Under the residual method, consideration is allocated to the undelivered elements based upon VSOE of those elements with the residual of the arrangement fee allocated to and recognized as license revenue. For multiple-element arrangements that include a perpetual license for which we have established VSOE and either maintenance or both maintenance and training, we allocate the revenue among the different elements of the arrangement based on each element's relative VSOE. For subscription-based licenses, which include maintenance, we recognize the subscription fees ratably over the subscription periods, which typically range from 1 to 6 months . We have established VSOE based on our historical pricing and discounting practices for maintenance, training and certain software licenses when sold separately. In establishing VSOE, we require that a substantial majority of the selling prices for these services fall within a reasonably narrow pricing range. The application of VSOE methodologies requires judgment, including the identification of individual elements in multiple element arrangements and whether there is VSOE of fair value for some or all elements.
Goodwill and Intangible Assets, Goodwill, Policy [Policy Text Block]
Foreign Currency Transactions	Foreign Currency Transactions Our functional currency is the U.S. Dollar. Asset and liability balances denominated in a foreign currency are remeasured to U.S. dollars at end-of-period exchange rates. Foreign currency income and expenses are remeasured at average exchange rates in effect during the period. We record foreign currency translation differences in accumulated other comprehensive income (loss).
Net Loss Per Share	Net Loss Per Share Basic net loss per share available to our common stockholders is calculated by dividing the net loss available to our common stockholders by the weighted-average number of common shares outstanding, less any treasury shares, during the period.
Recently Issued Accounting Standards	Recently Issued Accounting Standards In April 2015, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update 2015-05, Customer's Accounting for Fees Paid in a Cloud Computing Arrangement (“ASU 2015-05”). ASU 2015-05 clarifies the accounting for cloud computing arrangements, as no specific guidance existed prior to this newly issued standard. The provisions of ASU 2015-05 must be applied to annual periods beginning after December 15, 2015 as well as interim periods within those annual periods. We are currently in the process of evaluating the impact of the adoption of ASU 2015-05 on our consolidated financial statements. On May 28, 2014, the FASB issued Accounting Standards Update 2014-09, Revenue from Contracts with Customers (“ASU 2014-09”). ASU 2014-09 outlines a single comprehensive model to use in accounting for revenue arising from contracts with customers. In July 2015, the FASB voted to defer the effective date and, as a result, ASU 2014-09 is effective for us beginning on January 1, 2018. We are currently in the process of evaluating the impact of the adoption of ASU 2014-09 on our consolidated financial statements.

Summary of Significant Accoun18

Summary of Significant Accounting Policies (Tables)	6 Months Ended
	Jun. 30, 2015
Accounting Policies [Abstract]
Potential common shares excluded from the computation of diluted net loss per share	The following outstanding securities were excluded from the computation of diluted net loss per share available to our common stockholders as their inclusion would have been anti-dilutive: As of June 30, 2015 2014 (in thousands) Outstanding restricted stock units 307 75 Outstanding stock options 3,357 3,469 Outstanding common stock warrants 1,215 1,273 Outstanding employee stock purchase plan units 3 4 Total excluded securities 4,882 4,821

Property and Equipment (Tables)

Property and Equipment (Tables)	6 Months Ended
	Jun. 30, 2015
Property, Plant and Equipment [Abstract]
Summary of property and equipment, at cost less accumulated depreciation	The following is a summary of property and equipment, at cost less accumulated depreciation, at June 30, 2015 and December 31, 2014 : June 30, 2015 December 31, 2014 (in thousands) Land $ 4,276 $ 4,276 Computer equipment 5,420 4,566 Furniture and fixtures 2,687 2,750 Leasehold improvements 145 124 Building 17,942 16,527 Capitalized software 15,875 11,968 Property and equipment, gross 46,345 40,211 Less: Accumulated depreciation and amortization (14,184 ) (14,108 ) Property and equipment, net $ 32,161 $ 26,103

Contingencies Schedule of Requi

Contingencies Schedule of Required Future Minimum Rental Payments (Tables)	6 Months Ended
	Jun. 30, 2015
Commitments and Contingencies Disclosure [Abstract]
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block]	The following is a schedule of future minimum rental payments required under all of our operating lease agreements as of June 30, 2015 for the years ending December 31: Amount (in thousands) 2015 $ 295 2016 774 2017 667 2018 527 2019 298 Thereafter 3,430 $ 5,991

Share-Based Compensation to E21

Share-Based Compensation to Employees (Tables)	6 Months Ended
	Jun. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Valuation assumptions for fair value of stock options	he fair value of the options was estimated using the Black‑Scholes option‑pricing model with the following weighted-average assumptions: Six Months Ended June 30, 2015 Expected dividend yield — Expected volatility 37.4 % Risk-free interest rate 1.61 % Expected term (years) 5.72
Share-based compensation expense reflected in the condensed consolidated statements of operations	Share‑Based Compensation During the six months ended June 30, 2015 , we granted under the Long-Term Incentive Plan stock options to purchase 153 shares of our common stock with a weighted-average exercise price and weighted-average fair value of $26.22 and $9.83 , respectively. The fair value of the options was estimated using the Black‑Scholes option‑pricing model with the following weighted-average assumptions: Six Months Ended June 30, 2015 Expected dividend yield — Expected volatility 37.4 % Risk-free interest rate 1.61 % Expected term (years) 5.72 In September 2014, two co-founders of the Company retired from full-time employment with the Company and entered into consulting arrangements to provide certain transition services to the Company beginning in October 2014. Pursuant to the consulting arrangements, in October 2014, the former employees were collectively granted stock options to purchase 33 shares of our common stock. Such stock options vest over a period between six and twelve months, and we will recognize the expense for these non-employee options as they vest. Since they are non-employee stock awards, we began recognizing the expense based on the fair value of the awards at the end of each reporting period beginning in the three months ended December 31, 2014. Share-based compensation expense related to these non-employee options was $54 and $142 , respectively, for the three and six months ended June 30, 2015 . On April 29, 2015, the Board of Directors (the “Board”) of the Company appointed David Habiger as interim Chief Executive Officer effective April 30, 2015. Mr. Habiger replaces Patrick Allin, who continues with the Company as Executive Chairman. In connection with Mr. Habiger's employment with the Company as interim Chief Executive Officer, he and the Company entered into a letter agreement dated May 4, 2015, pursuant to which he was granted a restricted stock unit award with a fair value of $2,250 , which will cliff vest on May 4, 2016. In connection with Mr. Allin's transition to Executive Chairman, he and the Company entered into a Transition Agreement dated May 5, 2015, pursuant to which he was granted a restricted stock unit award with a fair value of $1,700 , which will cliff vest on April 1, 2016. Share-based compensation expense was $2,649 and $1,830 , respectively, for the three months ended June 30, 2015 and 2014 and $4,620 and $3,766 , respectively, for the six months ended June 30, 2015 and 2014. Share-based compensation expense is reflected in the following captions in the condensed consolidated statements of operations: Three Months Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 (in thousands) (in thousands) Cost of services $ 180 $ 156 $ 367 $ 308 General and administrative 2,030 1,049 3,346 2,240 Sales and marketing 233 324 499 636 Technology and development 206 301 408 582 Total $ 2,649 $ 1,830 $ 4,620 $ 3,766

Warrants (Tables)

Warrants (Tables)	6 Months Ended
	Jun. 30, 2015
Other Liabilities Disclosure [Abstract]
Warrants outstanding	Warrants outstanding to purchase our common stock as of June 30, 2015 were as follows: Warrants Outstanding Weighted- Average Exercise Price Convertible debenture 276 $ 16.26 Convertible debenture 385 $ 13.25 Convertible debenture 48 $ 16.26 Mortgage renewal 20 $ 15.00 Convertible debenture 32 $ 13.25 Convertible debenture 49 $ 15.00 Convertible debenture 319 $ 15.00 Notes payable 86 $ 13.92 1,215

Description of Business (Detail

Description of Business (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accumulated deficit	$ (215,339)	$ (209,419)

Summary of Significant Accoun24

Summary of Significant Accounting Policies (Basis of Presentation and Principles of Consolidation) (Details)	6 Months Ended
	Jun. 30, 2015segment
Schedule of Equity Method Investments [Line Items]
Number of Operating Segments	1

Summary of Significant Accoun25

Summary of Significant Accounting Policies (Revenue Recognition) (Details)	6 Months Ended
	Jun. 30, 2015
PlanSwift Solution [Member]
Deferred Revenue Arrangement [Line Items]
Estimated maintenance term	1 year
Minimum [Member]
Deferred Revenue Arrangement [Line Items]
Estimated project life	6 months
Estimated contract life	4 months
Estimated subscription period	6 months
Minimum [Member] | PlanSwift Solution [Member]
Deferred Revenue Arrangement [Line Items]
Estimated subscription period	1 month
Maximum [Member]
Deferred Revenue Arrangement [Line Items]
Estimated project life	32 months
Estimated contract life	20 months
Estimated subscription period	36 months
Maximum [Member] | PlanSwift Solution [Member]
Deferred Revenue Arrangement [Line Items]
Estimated subscription period	6 months

Summary of Significant Accoun26

Summary of Significant Accounting Policies (Net Loss Per Share) (Details) - shares shares in Thousands	3 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive shares	4,882	4,821
Restricted Stock Units [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive shares	307	75
Stock Options [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive shares	3,357	3,469
Common and Preferred Warrants [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive shares	1,239	1,273
Employee Stock Purchase Plan [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive shares	3	4

Summary of Significant Accoun27

Summary of Significant Accounting Policies (Changes in Estimates (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Change in Accounting Estimate [Line Items]
Net Income (Loss) Attributable to Parent	$ (2,853)	$ (5,974)	$ (5,920)	$ (13,239)
Increase in net income from change in accounting estimate	$ (2,853)	$ (6,068)	$ (5,920)	$ (13,408)
Increase in earnings per share from change in accounting estimate	$ (0.11)	$ (0.24)	$ (0.23)	$ (0.54)

Acquisitions (Narrative) (Detai

Acquisitions (Narrative) (Details) - $ / shares	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Business Acquisition [Line Items]
Net loss per share, basic and diluted	$ 0.11	$ 0.24	$ 0.23	$ 0.54

Acquisitions (Assets Acquired a

Acquisitions (Assets Acquired and Liabilities Assumed) (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Business Acquisition [Line Items]
Goodwill	$ 52,848	$ 52,848

Acquisitions (Pro Forma Informa

Acquisitions (Pro Forma Information) (Details) - $ / shares shares in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Business Acquisition [Line Items]
Weighted Average Number of Common Shares Outstanding, Basic and Diluted	25,774	25,001	25,707	24,908
Net loss per share available to Textura Corporation common stockholders, basic and diluted	$ (0.11)	$ (0.24)	$ (0.23)	$ (0.54)

Property and Equipment (Details

Property and Equipment (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Jun. 03, 2015	Dec. 31, 2014
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 46,345,000		$ 46,345,000			$ 40,211,000
Less: Accumulated depreciation and amortization	(14,184,000)		(14,184,000)			(14,108,000)
Property and equipment, at cost less accumulated depreciation	32,161,000		32,161,000			26,103,000
Amortization				$ 140,000
Capitalized Computer Software Expense			3,510,000	2,632,000
Write Off of Capital Lease Assets, Net Book Value					$ 99
Capital Lease Buyout, New Asset Basis					$ 1,431
Property, Plant and Equipment [Member]
Property, Plant and Equipment [Line Items]
Depreciation	742,000	$ 606,000	1,422,000	$ 1,143,000
Land [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	4,276,000		4,276,000			4,276,000
Computer equipment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	5,420,000		5,420,000			4,566,000
Furniture and fixtures [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	2,687,000		2,687,000			2,750,000
Leasehold improvements [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	145,000		145,000			124,000
Building [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	17,942,000		17,942,000			16,527,000
Capitalized software [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	15,875,000		15,875,000			$ 11,968,000
Amortization	293,000	73,000	$ 436,000
Capitalized Computer Software Expense	$ 1,550,000	$ 1,684,000

Contingencies Schedule of Futur

Contingencies Schedule of Future Minimum Rental Payments for Operating Leases (Details) - Jun. 30, 2015 $ in Thousands	USD ($)ft²
Commitments and Contingencies Disclosure [Abstract]
Size of office facility, square feet | ft²	23,000
Operating Leases, Future Minimum Payments, Remainder of Fiscal Year	$ 295
Operating Leases, Future Minimum Payments Due, Next Twelve Months	774
Operating Leases, Future Minimum Payments, Due in Three Years	667
Operating Leases, Future Minimum Payments, Due in Four Years	527
Operating Leases, Future Minimum Payments, Due in Five Years	298
Operating Leases, Future Minimum Payments, Due Thereafter	3,430
Operating Leases, Future Minimum Payments Due	$ 5,991

Share-Based Compensation to E33

Share-Based Compensation to Employees (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	May. 05, 2015	May. 04, 2015	Oct. 01, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocated Share-based Compensation Expense	$ 2,649,000	$ 1,830,000	$ 4,620,000	$ 3,766,000
Eligible Shares from Stock Options Granted related to Severance Arrangements							33
Share-based compensation expense related to severance arrangements	54		$ 142
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value					$ 1,700	$ 2,250
Cost of Sales [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocated Share-based Compensation Expense	180,000	156,000
General and Administrative Expense [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocated Share-based Compensation Expense	2,030,000	1,049,000
Selling and Marketing Expense [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocated Share-based Compensation Expense	233,000	324,000
Research and Development Expense [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocated Share-based Compensation Expense	$ 206,000	$ 301,000
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected dividend yield			0.00%
Expected volatility			37.00%
Risk-free interest rate			1.61%
Expected term (years)			5 years 8 months 20 days
Stock Options [Member] | Long-Term Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options granted			153,000
Weighted-average exercise price			$ 26.22
Weighted-average fair value per option			$ 9.83

Employee Benefit Plans (Details

Employee Benefit Plans (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Compensation and Retirement Disclosure [Abstract]
Defined Contribution Plan, Requisite Service Period			1 year
Maximum match, as a percent of employees contribution			3.00%
Defined Contribution Plan, Cost Recognized	$ 182	$ 145	$ 353	$ 271

Severance Arrangements (Details

Severance Arrangements (Details) - USD ($)	12 Months Ended
	Dec. 31, 2014	Jun. 30, 2015	Oct. 01, 2014
Postemployment Benefits (Severance Pay) [Abstract]
Severance Costs	$ 1,488
Accrued Severance Costs		$ 620
Eligible Shares from Stock Options Granted related to Severance Arrangements			33

Leases (Details)

Leases (Details) - USD ($)	3 Months Ended
	Jun. 30, 2015	Jun. 03, 2015	Mar. 31, 2015
Leases [Abstract]
Letters of Credit Outstanding, Amount	$ 400
Escrow Deposit	826		$ 1,879
Payments for Tenant Improvements	$ 1,053
Write Off of Capital Lease Assets, Net Book Value		$ 99
Capital Lease Buyout, New Asset Basis		$ 1,431