WisdomTree (WT) 10-Q 7 Nov 13 2013 Q3 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	9 Months Ended
	Sep. 30, 2013	Oct. 30, 2013
Document And Entity Information [Abstract]	'	'
Document Type	'10-Q	'
Amendment Flag	'false	'
Document Period End Date	30-Sep-13	'
Document Fiscal Year Focus	'2013	'
Document Fiscal Period Focus	'Q3	'
Trading Symbol	'WETF	'
Entity Registrant Name	'WisdomTree Investments, Inc.	'
Entity Central Index Key	'0000880631	'
Current Fiscal Year End Date	'--12-31	'
Entity Filer Category	'Accelerated Filer	'
Entity Common Stock, Shares Outstanding	'	129,391,406

Consolidated_Balance_Sheets

Consolidated Balance Sheets (USD $)	Sep. 30, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified
Current assets:	'	'
Cash and cash equivalents	$87,114	$41,246
Accounts receivable	16,254	9,348
Other current assets	1,975	1,273
Total current assets	105,343	51,867
Fixed assets, net	1,349	480
Investments	11,603	11,036
Other noncurrent assets	50	42
Total assets	118,345	63,425
Current liabilities:	'	'
Fund management and administration payable	10,621	6,924
Compensation and benefits payable	9,391	2,156
Accounts payable and other liabilities	4,026	3,272
Total current liabilities	24,038	12,352
Other noncurrent liabilities	3,063	13
Total liabilities	27,101	12,365
Stockholders' equity:	'	'
Preferred stock, par value $0.01; 2,000 shares authorized:	'	'
Common stock, par value $0.01; 250,000 shares authorized; issued: 129,410 and 126,554; outstanding: 127,461 and 125,272	1,294	1,265
Additional paid-in capital	182,920	177,826
Accumulated deficit	-92,970	-128,031
Total stockholders' equity	91,244	51,060
Total liabilities and stockholders' equity	$118,345	$63,425

Consolidated_Balance_Sheets_Pa

Consolidated Balance Sheets (Parenthetical) (USD $)	Sep. 30, 2013	Dec. 31, 2012
In Thousands, except Per Share data, unless otherwise specified
Statement Of Financial Position [Abstract]	'	'
Preferred stock, par value	$0.01	$0.01
Preferred stock, shares authorized	2,000	2,000
Common stock, par value	$0.01	$0.01
Common stock, shares authorized	250,000	250,000
Common stock, shares issued	129,410	126,554
Common stock, shares outstanding	127,461	125,272

Consolidated_Statements_of_Ope

Consolidated Statements of Operations (USD $)	3 Months Ended		9 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Revenues:	'	'	'	'
ETF advisory fees	$39,437	$21,440	$105,691	$60,645
Other income	193	221	611	579
Total revenues	39,630	21,661	106,302	61,224
Expenses:	'	'	'	'
Compensation and benefits	9,648	5,734	26,577	17,068
Fund management and administration	8,794	5,671	26,123	16,677
Marketing and advertising	2,031	862	6,164	3,736
Sales and business development	1,305	831	4,626	2,533
Professional and consulting fees	542	1,305	1,812	3,815
Occupancy, communications, and equipment	723	374	1,691	1,050
Depreciation and amortization	84	79	249	225
Third-party sharing arrangements	374	1,194	913	4,168
Other	1,164	859	3,086	2,211
ETF shareholder proxy	'	'	'	3,264
Patent litigation, net	'	219	'	700
Total expenses	24,665	17,128	71,241	55,447
Income before provision for income taxes	14,965	4,533	35,061	5,777
Provision for income taxes	'	'	'	'
Net income	$14,965	$4,533	$35,061	$5,777
Net income per share-basic	$0.12	$0.04	$0.28	$0.05
Net income per share-diluted	$0.11	$0.03	$0.25	$0.04
Weighted-average common shares-basic	126,509	123,214	125,909	121,445
Weighted-average common shares-diluted	140,097	138,458	139,805	137,878

Consolidated_Statements_of_Cas

Consolidated Statements of Cash Flows (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012
Cash flows from operating activities:	'	'
Net income	$35,061	$5,777
Non-cash items included in net income:	'	'
Depreciation and amortization and other	249	225
Stock-based compensation	5,186	5,903
Deferred rent	111	-106
Accretion to interest income and other	108	89
Changes in operating assets and liabilities:	'	'
Accounts receivable	-3,683	-3,759
Other assets	-720	-185
Fund management and administration payable	3,697	-736
Compensation and benefits payable	7,235	-933
Accounts payable and other liabilities	471	1,251
Net cash provided by operating activities	47,715	7,526
Cash flows from investing activities:	'	'
Purchase of fixed assets	-1,118	-182
Purchase of investments	-3,358	-6,098
Proceeds from the redemption of investments	2,693	5,657
Net cash used in investing activities	-1,783	-623
Cash flows from financing activities:	'	'
Net proceeds from sale of common stock	'	4,329
Shares repurchased	-1,413	-1,169
Proceeds from exercise of stock options	1,349	3,910
Net cash (used in)/provided by financing activities	-64	7,070
Net increase in cash and cash equivalents	45,868	13,973
Cash and cash equivalents-beginning of period	41,246	25,630
Cash and cash equivalents-end of period	87,114	39,603
Supplemental disclosure of cash flow information:	'	'
Cash paid for income taxes	$33	$29

Organization_and_Description_o

Organization and Description of Business	9 Months Ended
	Sep. 30, 2013
Accounting Policies [Abstract]	'
Organization and Description of Business	'
	1. Organization and Description of Business
	WisdomTree Investments, Inc. (“WisdomTree” or the “Company”) is a New York-based exchange-traded fund sponsor and asset manager. The Company is the fifth largest sponsor of ETFs in the United States based on assets under management (“AUM”) at September 30, 2013. In June 2006, the Company launched 20 ETFs and, as of September 30, 2013, had 53 ETFs with AUM of $31.4 billion. Through its operating subsidiary, the Company provides investment advisory and other management services to the WisdomTree Trust (“WTT”) and WisdomTree ETFs. The Company also licenses its indexes to third parties and promotes the use of WisdomTree ETFs in 401(k) plans. At September 30, 2013 the Company had the following subsidiaries:
		•	WisdomTree Asset Management, Inc. (“WTAM”)—a wholly owned subsidiary formed in February 2005 is an investment advisor registered with the Securities and Exchange Commission (“SEC”). WTAM provides investment advisory and other management services to WTT and the WisdomTree ETFs. In exchange for providing these services, the Company receives advisory fee revenues based on a percentage of the ETFs average daily net assets under management.
		•	WisdomTree Retirement Services, Inc. (“WTRS”)—a wholly owned subsidiary formed in August 2007 and dissolved in September 2013, marketed with selected third parties the use of WisdomTree ETFs in 401(k) plans.
	The WisdomTree ETFs are issued by WTT. WTT, a non-consolidated third-party, is a Delaware statutory trust registered with the SEC as an open-end management investment company. WTT offers ETFs across equities, fixed income, currency, and alternatives asset classes. The Company has licensed the use of its own fundamentally-weighted indexes on an exclusive basis to WTT for the WisdomTree ETFs. The Board of WTT, or the Trustees, is separate from the Board of the Company. The Trustees are primarily responsible for overseeing the management and affairs of the WisdomTree ETFs and the Trust for the benefit of the WisdomTree ETF shareholders and has contracted with the Company to provide for general management and administration services of WTT and the WisdomTree ETFs. The Company, in turn, has contracted with third parties to provide the majority of these administration services. In addition, certain officers of the Company provide general management services for WTT.

Significant_Accounting_Policie

Significant Accounting Policies	9 Months Ended
	Sep. 30, 2013
Accounting Policies [Abstract]	'
Significant Accounting Policies	'
	2. Significant Accounting Policies
	Basis of Presentation
	These consolidated financial statements have been prepared in conformity with U.S. generally accepted accounting principles (“GAAP”) and in the opinion of management reflect all adjustments, consisting of only normal recurring adjustments, necessary for a fair statement of financial condition, results of operations, and cash flows for the periods presented. The consolidated financial statements include the accounts of the Company’s wholly owned subsidiaries WTAM and WTRS. All intercompany accounts and transactions have been eliminated in consolidation.
	Use of Estimates
	The preparation of the Company’s consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the balance sheet dates and the reported amounts of revenues and expenses for the periods presented. Actual results could differ materially from those estimates.
	Revenue Recognition
	The Company earns investment advisory fees for ETFs and licensing fees from third parties. ETF advisory fees are based on a percentage of the ETFs average daily net assets and recognized over the period the related service is provided. Fees for separately managed accounts and licensing are based on a percentage of the average monthly net assets and recognized over the period the related service is provided.
	Depreciation and Amortization
	Depreciation is provided for using the straight-line method over the estimated useful lives of the related assets as follows:
	Equipment		3 years
	Furniture and fixtures		7 years
	Leasehold improvements are amortized over the term of their respective leases or service lives of the improvements, whichever is shorter. Fixed assets are stated at cost less accumulated depreciation and amortization.
	Marketing and Advertising
	Advertising costs, including media advertising and production costs, are expensed when incurred.
	Cash and Cash Equivalents
	The Company considers all highly liquid investments with an original maturity of 90 days or less at the time of purchase to be classified as cash equivalents. Cash and cash equivalents are held with one large financial institution.
	Accounts Receivable and Allowance for Doubtful Accounts
	Accounts receivable are customers’ and other obligations due under normal trade terms. In addition at September 30, 2013, the Company has recorded $3,223 due from the owner of its new office space related to leasehold improvements. An allowance for doubtful accounts is not provided since, in the opinion of management, all accounts receivable recorded are deemed collectible.
	Impairment of Long-Lived Assets
	On a periodic basis, the Company performs a review for the impairment of long-lived assets when events or changes in circumstances indicate that the estimated undiscounted future cash flows expected to be generated by the assets are less than their carrying amounts or when other events occur which may indicate that the carrying amount of an asset may not be recoverable.
	Earnings per Share
	Basic earnings per share is computed by dividing net income available to common stockholders by the weighted-average number of common shares outstanding for the period. Diluted earnings per share reflects the potential reduction in earnings per share that could occur if options or other contracts to issue common stock were exercised or converted into common stock. Options and restricted shares to purchase shares of common stock were included in the calculation of diluted earnings per share in the three and nine months ended September 30, 2013 and 2012, respectively.
	Investments
	The Company accounts for all of its investments as held-to-maturity, which are recorded at amortized cost, which approximates fair value. For held-to-maturity investments, the Company has the intent and ability to hold investments to maturity and it is not more likely than not that the Company will be required to sell the investments before recovery of their amortized cost bases, which may be maturity.
	On a periodic basis, the Company reviews its portfolio of investments for impairment. If a decline in fair value is deemed to be other-than-temporary, the security is written down to its fair value through earnings.
	Subsequent Events
	The Company has evaluated subsequent events after the date of the consolidated financial statements to consider whether or not the impact of such events needed to be reflected or disclosed in the consolidated financial statements. Such evaluation was performed through the issuance date of the consolidated financial statements.
	Stock-Based Awards
	Accounting for share-based compensation requires the measurement and recognition of compensation expense for all equity awards based on estimated fair values. The Company accounts for stock-based compensation for its employees based on the cost of employee services received in exchange for a stock-based award. Stock-based compensation is measured based on the grant-date fair value of the award and is amortized over the relevant service period.
	Stock-based awards granted to non-employees for goods or services are valued at the fair value of the equity instruments issued or the fair value of consideration received, whichever is a more reliable measure of the fair value of the transaction, and recognized when performance obligations are complete.
	Income Taxes
	The Company accounts for income taxes using the liability method, which requires the determination of deferred tax assets and liabilities based on the differences between the financial and tax basis of assets and liabilities using the enacted tax rates in effect for the year in which differences are expected to reverse. Deferred tax assets are adjusted by a valuation allowance if, based on the weight of available evidence, it is more-likely-than-not that some portion or all of the deferred tax assets will not be realized.
	In order to recognize and measure any unrecognized tax benefits, management evaluates and determines whether any of its tax positions are more-likely-than-not to be sustained upon examination, including resolution of any related appeals or litigation processes, based on the technical merits of the position. Once it is determined that a position meets this recognition threshold, the position is measured to determine the amount of benefit to be recognized in the consolidated financial statements. The Company has elected to record interest expense and penalties related to tax expenses as income tax expense.
	Related-Party Transactions
	The Company’s revenues are derived primarily from investment advisory agreements with WTT and WisdomTree ETFs. Under these agreements, the Company has granted WTT an exclusive license to its own indexes for operation of the WisdomTree ETFs. The Trustees are primarily responsible for overseeing the management and affairs of the WisdomTree ETFs and the Trust for the benefit of the WisdomTree ETF shareholders and has contracted with the Company to provide for general management and administration of WTT and the WisdomTree ETFs. The Company is also responsible for expenses of WTT, including the cost of transfer agency, custody, fund administration and accounting, legal, audit, and other non-distribution services. In exchange, the Company receives fees based on a percentage of the ETF average daily net assets. The advisory agreements may be terminated by WTT upon notice. Certain officers of the Company also provide general management oversight of WTT; however, these officers have no material decision making responsibilities and primarily implement the decisions of the Trustees. At September 30, 2013 and December 31, 2012 the balance of accounts receivable from WTT was approximately $12,977 and $8,180, respectively which is included as a component of accounts receivable in the consolidated balance sheet. Revenue from advisory services provided to WTT for the three months ended September 30, 2013 and 2012 was $39,437 and $21,440 respectively and for the nine months ended September 30, 2013 and 2012 was approximately $105,691 and $60,645, respectively.
	Third-Party Sharing Arrangements
	Included in third party sharing arrangements expense are payments (reimbursements) from/(to) the Company with respect to (i) a collaborative arrangement and (ii) marketing agreements with third parties:
	Collaborative Arrangement— The Company was the principal participant for transactions under a collaborative arrangement with Mellon Capital Management Corporation (“Mellon Capital”) and The Dreyfus Corporation (“Dreyfus”). This arrangement ended in December 2012. Under the arrangement, the parties collaborated in developing currency and fixed income ETFs under WTT. The Company was responsible for operating the ETFs and providing sales, marketing and research support at its own cost. Mellon Capital and Dreyfus were responsible for providing sub-advisory, fund administration and accounting services for these collaborative ETFs at their own cost. Any revenues less third party costs, such as marketing, legal, accounting or fund management, related to these collaborative products are shared, including any losses (“net profit/(loss)”). The Company was responsible for arranging any third party costs related to this collaborative arrangement. The Company recorded these transactions on a gross basis reflecting all of the revenues and third party expenses on its consolidated financial statements in accordance with the nature of the revenue or expense. Any net profit/(loss) payments are reflected in Third-Party Sharing Arrangements expense on the consolidated financial statements.
	Revenues and expenses under this collaborative arrangement included in the Company’s consolidated financial statements are as follows:
		Three Months Ended		Nine Months Ended
		30-Sep-12		September 30, 2012
	ETF advisory fee revenue	$	2,616	$	8,139
	Expenses:
	Fund management and administration		311		987
	Marketing and advertising		14		33
	Sales and business development		7		17
	Total third party expenses		332		1,037
	Net profit		2,284		7,102
	Sharing	$	1,113	$	3,455
	Marketing agreements— the Company has entered into agreements with certain firms to serve as the external marketing agents for the WisdomTree ETFs. Under these agreements, the Company will pay a percentage of their advisory fee revenue to the marketing agents based on incremental growth in assets under management. The Company incurred marketing fees of $374 and $81 for the three months September 30, 2013 and 2012 respectively. The Company incurred marketing fees of $913 and $713 for the nine months September 30, 2013 and 2012 respectively.
	Segment, Geographic and Customer Information
	The Company operates as one business segment, as an ETF sponsor and asset manager providing investment advisory services. Revenues are derived in the U.S. and all of the Company’s assets are located in the U.S.

Investments_and_Fair_Value_Mea

Investments and Fair Value Measurements	9 Months Ended
	Sep. 30, 2013
Text Block [Abstract]	'
Investments and Fair Value Measurements	'
	3. Investments and Fair Value Measurements
	The following table is a summary of the Company’s investments:
		September 30,			December 31,
		2013			2012
		Held-to-			Held-to-
		Maturity			Maturity
	Federal agency debt instruments	$	11,603		$	11,036
	The following table summarizes unrealized gains, losses, and fair value of investments:
		September 30,			December 31,
		2013			2012
		Held-to-			Held-to-
		Maturity			Maturity
	Cost/amortized cost	$	11,603		$	11,036
	Gross unrealized gains		59			61
	Gross unrealized losses		(1,066	)		(157	)
	Fair value	$	10,596		$	10,940
	The following table sets forth the maturity profile of investments:
		September 30,			December 31,
		2013			2012
		Held-to-			Held-to-
		Maturity			Maturity
	Due within one year	$	—		$	—
	Due one year through five years		—			—
	Due five years through ten years		694			727
	Due over ten years		10,909			10,309
	Total	$	11,603		$	11,036
	Fair Value Measurement
	Under the accounting for fair value measurements and disclosures, fair value is defined as the price that would be received to sell an asset or paid to transfer a liability, or the exit price, in an orderly transaction between market participants at the measurement date. The accounting guidance establishes a hierarchy of valuation techniques based on whether the inputs to those valuation techniques are observable or unobservable. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect the Company’s market assumptions.
	These three types of inputs create the following fair value hierarchy:
	Level 1—Quoted prices for identical instruments in active markets.
	Level 2—Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations whose inputs are observable or whose significant value drivers are observable.
	Level 3—Instruments whose significant value drivers are unobservable.
	This hierarchy requires the use of observable market data when available. The Company’s held-to-maturity securities are categorized as Level 1. The amortized cost of the held-to-maturity securities approximates fair value. The Company does not intend to sell its investments held-to maturity before the recovery of their amortized cost bases which may be at maturity.
	Some of our financial instruments are not measured at fair value on a recurring basis but are recorded at amounts that approximate fair value due to their liquid or short-term nature. Such financial assets and financial liabilities are categorized as Level 3.

Fixed_Assets

Fixed Assets	9 Months Ended
	Sep. 30, 2013
Property Plant And Equipment [Abstract]	'
Fixed Assets	'
	4. Fixed Assets
	As of September 30, 2013 the Company has capitalized approximately $563 for furniture and fixtures and $453 for leasehold improvements related to its new office space which it intends to depreciate and amortize when completed and ready for use.
	The following table summarizes fixed assets:
		September 30,			December 31,
		2013			2012
	Equipment	$	888		$	786
	Furniture and fixtures		871			308
	Leasehold improvements		1,515			1,062
	Less accumulated depreciation and amortization		(1,925	)		(1,676	)
	Total	$	1,349		$	480

Commitments_and_Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2013
Commitments And Contingencies Disclosure [Abstract]	'
Commitments and Contingencies	'
	5. Commitments and Contingencies
	Contractual Obligations
	The Company has entered into obligations under operating leases with initial non-cancelable terms in excess of one year for office space, telephone, and data services. Expenses recorded under these agreements for the three months ended September 30, 2013 and 2012 were approximately $582 and $351, respectively and for the nine months ended September 30, 2013 and 2012 were approximately $1,312 and $987 respectively.
	Future minimum lease payments with respect to non-cancelable operating leases at September 30, 2013 are approximately as follows:
	Remainder of 2013	$	1,060
	2014		3,092
	2015		2,880
	2016 and thereafter		37,902
	Total	$	44,934
	The Company’s current office lease expires in January 2014 and the Company entered into a new 16 year lease agreement in August 2013.
	Letter of Credit
	The Company collateralizes its current office lease through a standby letter of credit of $419 as of September 30, 2013. In August 2013, the Company collateralized its new office lease through an additional standby letter of credit of $1,384 held as an investment in debt securities, which is included in investments on the consolidated balance sheets at September 30, 2013.
	Contingencies
	The Company is subject to various routine regulatory reviews and inspections by the SEC and may be subject to legal proceedings arising in the ordinary course of business. The Company is not currently party to any litigation or other legal proceedings that are expected to have a material impact on our business, financial position, results of operations, or cash flows.
	In December 2011, Research Affiliates LLC filed a patent infringement lawsuit against the Company. In November 2012, Research Affiliates withdrew its lawsuit and entered into a settlement agreement with the Company. The Company’s insurance carrier funded a significant majority of the cost of defending this patent infringement lawsuit. The Company incurred litigation expense of $219 and $700, net of insurance reimbursement, in the three and nine months ended September 30, 2012.

StockBased_Awards

Stock-Based Awards	9 Months Ended
	Sep. 30, 2013
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]	'
Stock-Based Awards	'
	6. Stock-Based Awards
	The Company grants equity awards to employees and directors and has in the past granted such awards to special advisors for services:
		•		Options are issued generally for terms of ten years and vest between two to four years. Options are issued with an exercise price equal to the fair value of the Company’s common stock on the date of grant. The Company estimated the fair value for options using the Black-Scholes Option Pricing Model.
		•		All restricted stock and option awards require future service as a condition of vesting with certain awards subject to acceleration under certain conditions. Awards generally vest over one to four years.
		•		Stock awards granted to advisors vested over the contractual period of the consulting arrangement. The fair value of these awards was measured at the grant dated fair value and re-measured at each reporting period. Fair value was initially determined as the closing price of the Company’s common stock on the date of grant.
	A summary of options and restricted stock activity is as follows:
			Options			Weighted		Restricted
						Average		Stock
						Exercise Price		Awards
						of Options
	Balance at January 1, 2013			12,760,191		$	0.95		1,281,144
	Granted			—		$	—		981,810
	Exercised/vested			(1,998,000	)	$	0.68		(308,334	)
	Forfeitures			(37,500	)	$	4.23		(5,328	)
	Balance at September 30, 2013			10,724,691		$	0.99		1,949,292
	A summary of stock-based compensation expense is as follows:
			Three Months Ended					Nine Months Ended
			September 30,					September 30,
			2013			2012		2013			2012
	Employees and directors		$	1,781		$	1,256	$	5,186		$	3,917
	Non-employees			—			614		—			1,986
	Total		$	1,781		$	1,870	$	5,186		$	5,903

Earnings_Per_Share

Earnings Per Share	9 Months Ended
	Sep. 30, 2013
Earnings Per Share [Abstract]	'
Earnings Per Share	'
	7. Earnings Per Share
	The following is a reconciliation of the basic and diluted earnings per share computation:
		Three Months Ended				Nine Months Ended
		September 30,				September 30,
		2013		2012		2013		2012
		(shares in thousands)				(shares in thousands)
	Net income	$	14,965	$	4,533	$	35,061	$	5,777
	Shares of common stock and common stock equivalents:
	Weighted averages shares used in basic computation		126,509		123,214		125,909		121,445
	Dilutive effect of stock options and unvested restricted stock		13,588		15,244		13,896		16,433
	Weighted averages shares used in dilutive computation		140,097		138,458		139,805		137,878
	Basic earnings per share	$	0.12	$	0.04	$	0.28	$	0.05
	Dilutive earnings per share	$	0.11	$	0.03	$	0.25	$	0.04
	Diluted earnings per share reflects the potential reduction in earnings per share that could occur if options or other contracts to issue common stock were exercised or converted into common stock. Options and restricted shares to purchase shares of common stock were included in the calculation of dilutive earnings per share for the three and nine months ending September 30, 2013 and 2012.

Shares_Repurchased

Shares Repurchased	9 Months Ended
	Sep. 30, 2013
Equity [Abstract]	'
Shares Repurchased	'
	8. Shares Repurchased
	During the nine months ended September 30, 2013 and 2012, the Company repurchased 118,156 and 182,172 shares of its Company stock for an aggregate cost of $1,413 and $1,169 respectively. The shares repurchased relate to the tax withholding obligations that occur upon the vesting of restricted common stock granted to employees.

Public_Offerings

Public Offerings	9 Months Ended
	Sep. 30, 2013
Text Block [Abstract]	'
Public Offerings	'
	9. Public Offerings
	In February 2012, the Company completed a public offering of its common stock at $5.61 per share. The Company sold 1,000,000 shares and certain of our stockholders sold 15,516,587 shares. Proceeds to the Company, less commissions and other direct selling expenses were approximately $4,329 and were used for working capital and other general corporate purposes. In November 2012, the Company completed a second public offering of its common stock where certain of our existing stockholders sold 27,795,630 shares at $6.10 per share. The Company did not sell any stock in the second offering and did not receive any proceeds from the sale of shares of its common stock by the selling stockholders. The Company incurred $353 in expenses in the fourth quarter of 2012 related to the second offering.

ETF_Shareholder_Proxy_Solicita

ETF Shareholder Proxy Solicitation	9 Months Ended
	Sep. 30, 2013
Text Block [Abstract]	'
ETF Shareholder Proxy Solicitation	'
	10. ETF Shareholder Proxy Solicitation
	In 2012, the Company completed its solicitation from the WisdomTree ETF shareholders to obtain approval for the Company to continue as investment advisor for the WisdomTree ETFs if the Company’s largest stockholder, Michael Steinhardt, who then beneficially owned 25.5% of the Company’s common stock prior to the second public offering discussed above in Note 9, were to sell or otherwise transfer shares of the Company’s common stock resulting in his beneficial ownership falling below 25%. The Investment Company Act presumes a change in control of the Company if Mr. Steinhardt’s ownership fell below the 25% threshold, which would trigger an automatic termination of the Company’s investment advisory agreements with the WisdomTree Trust and require approval of the WisdomTree ETF shareholders to continue the agreements. No further shareholder approval was required when Mr. Steinhardt’s ownership fell below 25%. In addition, the Company received approval from the WisdomTree ETF shareholders to allow the Company to change sub-advisors in the future. For the nine months ended September 30, 2012 and the year ended December 31, 2012, the Company incurred proxy related expense of $3,264.

Significant_Accounting_Policie1

Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2013
Accounting Policies [Abstract]	'
Basis of Presentation	'
	Basis of Presentation
	These consolidated financial statements have been prepared in conformity with U.S. generally accepted accounting principles (“GAAP”) and in the opinion of management reflect all adjustments, consisting of only normal recurring adjustments, necessary for a fair statement of financial condition, results of operations, and cash flows for the periods presented. The consolidated financial statements include the accounts of the Company’s wholly owned subsidiaries WTAM and WTRS. All intercompany accounts and transactions have been eliminated in consolidation.
Use of Estimates	'
	Use of Estimates
	The preparation of the Company’s consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the balance sheet dates and the reported amounts of revenues and expenses for the periods presented. Actual results could differ materially from those estimates.
Revenue Recognition	'
	Revenue Recognition
	The Company earns investment advisory fees for ETFs and licensing fees from third parties. ETF advisory fees are based on a percentage of the ETFs average daily net assets and recognized over the period the related service is provided. Fees for separately managed accounts and licensing are based on a percentage of the average monthly net assets and recognized over the period the related service is provided.
Depreciation and Amortization	'
	Depreciation and Amortization
	Depreciation is provided for using the straight-line method over the estimated useful lives of the related assets as follows:
	Equipment		3 years
	Furniture and fixtures		7 years
	Leasehold improvements are amortized over the term of their respective leases or service lives of the improvements, whichever is shorter. Fixed assets are stated at cost less accumulated depreciation and amortization.
Marketing and Advertising	'
	Marketing and Advertising
	Advertising costs, including media advertising and production costs, are expensed when incurred.
Cash and Cash Equivalents	'
	Cash and Cash Equivalents
	The Company considers all highly liquid investments with an original maturity of 90 days or less at the time of purchase to be classified as cash equivalents. Cash and cash equivalents are held with one large financial institution.
Accounts Receivable and Allowance for Doubtful Accounts	'
	Accounts Receivable and Allowance for Doubtful Accounts
	Accounts receivable are customers’ and other obligations due under normal trade terms. In addition at September 30, 2013, the Company has recorded $3,223 due from the owner of its new office space related to leasehold improvements. An allowance for doubtful accounts is not provided since, in the opinion of management, all accounts receivable recorded are deemed collectible.
Impairment of Long-Lived Assets	'
	Impairment of Long-Lived Assets
	On a periodic basis, the Company performs a review for the impairment of long-lived assets when events or changes in circumstances indicate that the estimated undiscounted future cash flows expected to be generated by the assets are less than their carrying amounts or when other events occur which may indicate that the carrying amount of an asset may not be recoverable.
Earnings per Share	'
	Earnings per Share
	Basic earnings per share is computed by dividing net income available to common stockholders by the weighted-average number of common shares outstanding for the period. Diluted earnings per share reflects the potential reduction in earnings per share that could occur if options or other contracts to issue common stock were exercised or converted into common stock. Options and restricted shares to purchase shares of common stock were included in the calculation of diluted earnings per share in the three and nine months ended September 30, 2013 and 2012, respectively.
Investments	'
	Investments
	The Company accounts for all of its investments as held-to-maturity, which are recorded at amortized cost, which approximates fair value. For held-to-maturity investments, the Company has the intent and ability to hold investments to maturity and it is not more likely than not that the Company will be required to sell the investments before recovery of their amortized cost bases, which may be maturity.
	On a periodic basis, the Company reviews its portfolio of investments for impairment. If a decline in fair value is deemed to be other-than-temporary, the security is written down to its fair value through earnings.
Subsequent Events	'
	Subsequent Events
	The Company has evaluated subsequent events after the date of the consolidated financial statements to consider whether or not the impact of such events needed to be reflected or disclosed in the consolidated financial statements. Such evaluation was performed through the issuance date of the consolidated financial statements.
Stock-Based Awards	'
	Stock-Based Awards
	Accounting for share-based compensation requires the measurement and recognition of compensation expense for all equity awards based on estimated fair values. The Company accounts for stock-based compensation for its employees based on the cost of employee services received in exchange for a stock-based award. Stock-based compensation is measured based on the grant-date fair value of the award and is amortized over the relevant service period.
	Stock-based awards granted to non-employees for goods or services are valued at the fair value of the equity instruments issued or the fair value of consideration received, whichever is a more reliable measure of the fair value of the transaction, and recognized when performance obligations are complete.
Income Taxes	'
	Income Taxes
	The Company accounts for income taxes using the liability method, which requires the determination of deferred tax assets and liabilities based on the differences between the financial and tax basis of assets and liabilities using the enacted tax rates in effect for the year in which differences are expected to reverse. Deferred tax assets are adjusted by a valuation allowance if, based on the weight of available evidence, it is more-likely-than-not that some portion or all of the deferred tax assets will not be realized.
	In order to recognize and measure any unrecognized tax benefits, management evaluates and determines whether any of its tax positions are more-likely-than-not to be sustained upon examination, including resolution of any related appeals or litigation processes, based on the technical merits of the position. Once it is determined that a position meets this recognition threshold, the position is measured to determine the amount of benefit to be recognized in the consolidated financial statements. The Company has elected to record interest expense and penalties related to tax expenses as income tax expense.
Related-Party Transactions	'
	Related-Party Transactions
	The Company’s revenues are derived primarily from investment advisory agreements with WTT and WisdomTree ETFs. Under these agreements, the Company has granted WTT an exclusive license to its own indexes for operation of the WisdomTree ETFs. The Trustees are primarily responsible for overseeing the management and affairs of the WisdomTree ETFs and the Trust for the benefit of the WisdomTree ETF shareholders and has contracted with the Company to provide for general management and administration of WTT and the WisdomTree ETFs. The Company is also responsible for expenses of WTT, including the cost of transfer agency, custody, fund administration and accounting, legal, audit, and other non-distribution services. In exchange, the Company receives fees based on a percentage of the ETF average daily net assets. The advisory agreements may be terminated by WTT upon notice. Certain officers of the Company also provide general management oversight of WTT; however, these officers have no material decision making responsibilities and primarily implement the decisions of the Trustees. At September 30, 2013 and December 31, 2012 the balance of accounts receivable from WTT was approximately $12,977 and $8,180, respectively which is included as a component of accounts receivable in the consolidated balance sheet. Revenue from advisory services provided to WTT for the three months ended September 30, 2013 and 2012 was $39,437 and $21,440 respectively and for the nine months ended September 30, 2013 and 2012 was approximately $105,691 and $60,645, respectively.
Third-Party Sharing Arrangements	'
	Third-Party Sharing Arrangements
	Included in third party sharing arrangements expense are payments (reimbursements) from/(to) the Company with respect to (i) a collaborative arrangement and (ii) marketing agreements with third parties:
	Collaborative Arrangement— The Company was the principal participant for transactions under a collaborative arrangement with Mellon Capital Management Corporation (“Mellon Capital”) and The Dreyfus Corporation (“Dreyfus”). This arrangement ended in December 2012. Under the arrangement, the parties collaborated in developing currency and fixed income ETFs under WTT. The Company was responsible for operating the ETFs and providing sales, marketing and research support at its own cost. Mellon Capital and Dreyfus were responsible for providing sub-advisory, fund administration and accounting services for these collaborative ETFs at their own cost. Any revenues less third party costs, such as marketing, legal, accounting or fund management, related to these collaborative products are shared, including any losses (“net profit/(loss)”). The Company was responsible for arranging any third party costs related to this collaborative arrangement. The Company recorded these transactions on a gross basis reflecting all of the revenues and third party expenses on its consolidated financial statements in accordance with the nature of the revenue or expense. Any net profit/(loss) payments are reflected in Third-Party Sharing Arrangements expense on the consolidated financial statements.
	Revenues and expenses under this collaborative arrangement included in the Company’s consolidated financial statements are as follows:
		Three Months Ended		Nine Months Ended
		30-Sep-12		September 30, 2012
	ETF advisory fee revenue	$	2,616	$	8,139
	Expenses:
	Fund management and administration		311		987
	Marketing and advertising		14		33
	Sales and business development		7		17
	Total third party expenses		332		1,037
	Net profit		2,284		7,102
	Sharing	$	1,113	$	3,455
	Marketing agreements— the Company has entered into agreements with certain firms to serve as the external marketing agents for the WisdomTree ETFs. Under these agreements, the Company will pay a percentage of their advisory fee revenue to the marketing agents based on incremental growth in assets under management. The Company incurred marketing fees of $374 and $81 for the three months September 30, 2013 and 2012 respectively. The Company incurred marketing fees of $913 and $713 for the nine months September 30, 2013 and 2012 respectively.
Segment, Geographic and Customer Information	'
	Segment, Geographic and Customer Information
	The Company operates as one business segment, as an ETF sponsor and asset manager providing investment advisory services. Revenues are derived in the U.S. and all of the Company’s assets are located in the U.S.

Significant_Accounting_Policie2

Significant Accounting Policies (Tables)	9 Months Ended
	Sep. 30, 2013
Accounting Policies [Abstract]	'
Schedule of Estimated Useful Lives of Related Assets	'
	Depreciation is provided for using the straight-line method over the estimated useful lives of the related assets as follows:
	Equipment		3 years
	Furniture and fixtures		7 years
Revenues and Expenses under Collaborative Arrangement	'
	Revenues and expenses under this collaborative arrangement included in the Company’s consolidated financial statements are as follows:
		Three Months Ended		Nine Months Ended
		30-Sep-12		September 30, 2012
	ETF advisory fee revenue	$	2,616	$	8,139
	Expenses:
	Fund management and administration		311		987
	Marketing and advertising		14		33
	Sales and business development		7		17
	Total third party expenses		332		1,037
	Net profit		2,284		7,102
	Sharing	$	1,113	$	3,455

Investments_and_Fair_Value_Mea1

Investments and Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2013
Text Block [Abstract]	'
Schedule of Investments	'
	The following table is a summary of the Company’s investments:
		September 30,			December 31,
		2013			2012
		Held-to-			Held-to-
		Maturity			Maturity
	Federal agency debt instruments	$	11,603		$	11,036
Schedule of Unrealized Gains, Losses, and Fair Value of Investments	'
	The following table summarizes unrealized gains, losses, and fair value of investments:
		September 30,			December 31,
		2013			2012
		Held-to-			Held-to-
		Maturity			Maturity
	Cost/amortized cost	$	11,603		$	11,036
	Gross unrealized gains		59			61
	Gross unrealized losses		(1,066	)		(157	)
	Fair value	$	10,596		$	10,940
Schedule of Maturity Profile of Investments	'
	The following table sets forth the maturity profile of investments:
		September 30,			December 31,
		2013			2012
		Held-to-			Held-to-
		Maturity			Maturity
	Due within one year	$	—		$	—
	Due one year through five years		—			—
	Due five years through ten years		694			727
	Due over ten years		10,909			10,309
	Total	$	11,603		$	11,036

Fixed_Assets_Tables

Fixed Assets (Tables)	9 Months Ended
	Sep. 30, 2013
Property Plant And Equipment [Abstract]	'
Schedule of Fixed Assets	'
	The following table summarizes fixed assets:
		September 30,			December 31,
		2013			2012
	Equipment	$	888		$	786
	Furniture and fixtures		871			308
	Leasehold improvements		1,515			1,062
	Less accumulated depreciation and amortization		(1,925	)		(1,676	)
	Total	$	1,349		$	480

Commitments_and_Contingencies_

Commitments and Contingencies (Tables)	9 Months Ended
	Sep. 30, 2013
Commitments And Contingencies Disclosure [Abstract]	'
Schedule of Future Minimum Lease Payments	'
	Future minimum lease payments with respect to non-cancelable operating leases at September 30, 2013 are approximately as follows:
	Remainder of 2013	$	1,060
	2014		3,092
	2015		2,880
	2016 and thereafter		37,902
	Total	$	44,934

StockBased_Awards_Tables

Stock-Based Awards (Tables)	9 Months Ended
	Sep. 30, 2013
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]	'
Summary of Options and Restricted Stock Activity	'
	A summary of options and restricted stock activity is as follows:
		Options			Weighted		Restricted
					Average		Stock
					Exercise Price		Awards
					of Options
	Balance at January 1, 2013		12,760,191		$	0.95		1,281,144
	Granted		—		$	—		981,810
	Exercised/vested		(1,998,000	)	$	0.68		(308,334	)
	Forfeitures		(37,500	)	$	4.23		(5,328	)
	Balance at September 30, 2013		10,724,691		$	0.99		1,949,292
Summary of Stock-Based Compensation Expense	'
	A summary of stock-based compensation expense is as follows:
		Three Months Ended					Nine Months Ended
		September 30,					September 30,
		2013			2012		2013			2012
	Employees and directors	$	1,781		$	1,256	$	5,186		$	3,917
	Non-employees		—			614		—			1,986
	Total	$	1,781		$	1,870	$	5,186		$	5,903

Earnings_Per_Share_Tables

Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2013
Earnings Per Share [Abstract]	'
Reconciliation of Basic and Diluted Earnings Per Share	'
	The following is a reconciliation of the basic and diluted earnings per share computation:
		Three Months Ended				Nine Months Ended
		September 30,				September 30,
		2013		2012		2013		2012
		(shares in thousands)				(shares in thousands)
	Net income	$	14,965	$	4,533	$	35,061	$	5,777
	Shares of common stock and common stock equivalents:
	Weighted averages shares used in basic computation		126,509		123,214		125,909		121,445
	Dilutive effect of stock options and unvested restricted stock		13,588		15,244		13,896		16,433
	Weighted averages shares used in dilutive computation		140,097		138,458		139,805		137,878
	Basic earnings per share	$	0.12	$	0.04	$	0.28	$	0.05
	Dilutive earnings per share	$	0.11	$	0.03	$	0.25	$	0.04

Organization_and_Description_o1

Organization and Description of Business - Additional Information (Detail) (USD $)	1 Months Ended	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2006	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
	Fund			Fund
Organization, Consolidation and Presentation of Financial Statements [Abstract]	'	'	'	'	'
Number of ETF launched by the company	20	'	'	'	'
Number of ETF had by Company	'	'	'	53	'
Amount of assets under management	'	$8,794	$5,671	$26,123	$16,677
Exchange Traded Funds [Member]	'	'	'	'	'
Organization, Consolidation and Presentation of Financial Statements [Abstract]	'	'	'	'	'
Amount of assets under management	'	'	'	$31,400,000	'

Significant_Accounting_Policie3

Significant Accounting Policies - Schedule of Estimated Useful Lives of Related Assets (Detail)	9 Months Ended
	Sep. 30, 2013
Equipment [Member]	'
Property, Plant and Equipment [Line Items]	'
Estimated useful lives	'3 years
Furniture and fixtures [Member]	'
Property, Plant and Equipment [Line Items]	'
Estimated useful lives	'7 years

Significant_Accounting_Policie4

Significant Accounting Policies - Additional Information (Detail) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012	Dec. 31, 2012
	Financial_Institution		Segment
			Financial_Institution
Related Party Transaction [Line Items]	'	'	'	'	'
Cash and cash equivalents maturity period maximum	'	'	'90 days	'	'
Number of financial institutions	1	'	1	'	'
Accounts receivable related-party	$12,977	'	$12,977	'	$8,180
ETF advisory fee revenue	39,437	21,440	105,691	60,645	'
Marketing fees	374	81	913	713	'
Number of operating segments	'	'	1	'	'
Leasehold improvements [Member]	'	'	'	'	'
Related Party Transaction [Line Items]	'	'	'	'	'
Accounts receivable	$3,223	'	$3,223	'	'

Significant_Accounting_Policie5

Significant Accounting Policies - Revenues and Expenses under Collaborative Arrangement (Detail) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Related Party Transaction [Line Items]	'	'	'	'
ETF advisory fee revenue	$39,437	$21,440	$105,691	$60,645
Expenses:	'	'	'	'
Marketing and advertising	2,031	862	6,164	3,736
Sales and business development	1,305	831	4,626	2,533
Total expenses	24,665	17,128	71,241	55,447
Net income	14,965	4,533	35,061	5,777
Third-Party Sharing Arrangements [Member]	'	'	'	'
Related Party Transaction [Line Items]	'	'	'	'
ETF advisory fee revenue	'	2,616	'	8,139
Expenses:	'	'	'	'
Fund management and administration	'	311	'	987
Marketing and advertising	'	14	'	33
Sales and business development	'	7	'	17
Total expenses	'	332	'	1,037
Net income	'	2,284	'	7,102
Sharing	'	$1,113	'	$3,455

Investments_and_Fair_Value_Mea2

Investments and Fair Value Measurements - Schedule of Investments (Detail) (USD $)	Sep. 30, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified
Schedule of Held-to-maturity Securities [Line Items]	'	'
Held-to-Maturity Debt instrument	$11,603	$11,036
Federal agency [Member]	'	'
Schedule of Held-to-maturity Securities [Line Items]	'	'
Held-to-Maturity Debt instrument	$11,603	$11,036

Investments_and_Fair_Value_Mea3

Investments and Fair Value Measurements - Schedule of Unrealized Gains, Losses, and Fair Value of Investments (Detail) (USD $)	Sep. 30, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified
Held To Maturity Securities Balance Sheet Reported Amounts [Abstract]	'	'
Held-to-maturity cost or amortized cost	$11,603	$11,036
Held-to-maturity gross unrealized gains	59	61
Held-to-maturity gross unrealized losses	-1,066	-157
Held-to-maturity fair value	$10,596	$10,940

Investments_and_Fair_Value_Mea4

Investments and Fair Value Measurements - Schedule of Maturity Profile of Investments (Detail) (USD $)	Sep. 30, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified
Held To Maturity Securities Debt Maturities Net Carrying Amount [Abstract]	'	'
Held-to-maturity due within one year	'	'
Held-to-maturity due one year through five years	'	'
Held-to-maturity due five years through ten years	694	727
Held-to-maturity due over ten years	10,909	10,309
Held-to-maturity total	$11,603	$11,036

Fixed_Assets_Additional_Inform

Fixed Assets - Additional Information (Detail) (USD $)	Sep. 30, 2013
In Thousands, unless otherwise specified
Property Plant And Equipment [Abstract]	'
Capitalized furniture and fixtures related to new office space	$563
Capitalized leasehold improvements related to new office space	$453

Fixed_Assets_Schedule_of_Fixed

Fixed Assets - Schedule of Fixed Assets (Detail) (USD $)	Sep. 30, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified
Property, Plant and Equipment [Line Items]	'	'
Less accumulated depreciation and amortization	($1,925)	($1,676)
Total	1,349	480
Equipment [Member]	'	'
Property, Plant and Equipment [Line Items]	'	'
Property, plant and equipment, Gross	888	786
Furniture and fixtures [Member]	'	'
Property, Plant and Equipment [Line Items]	'	'
Property, plant and equipment, Gross	871	308
Leasehold improvements [Member]	'	'
Property, Plant and Equipment [Line Items]	'	'
Property, plant and equipment, Gross	$1,515	$1,062

Commitments_and_Contingencies_1

Commitments and Contingencies - Additional Information (Detail) (USD $)	3 Months Ended		9 Months Ended			1 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Aug. 31, 2013
					Scenario, Forecast [Member]	Investment in debt securities [Member]
Operating Leased Assets [Line Items]	'	'	'	'	'	'
Operating leases expenses	$582	$351	$1,312	$987	'	'
Period in which office lease expires	'	'	1-Jan-14	'	'	'
New lease agreement term	'	'	'	'	'16 years	'
Stand by letter of credit decreased	'	'	419	'	'	1,384
Litigation expenses incurred	'	$219	'	$700	'	'

Commitments_and_Contingencies_2

Commitments and Contingencies - Schedule of Future Minimum Lease Payments (Detail) (USD $)	Sep. 30, 2013
In Thousands, unless otherwise specified
Future Minimum Sublease Rentals Sale Leaseback Transactions [Abstract]	'
Remainder of 2013	$1,060
2014	3,092
2015	2,880
2016 and thereafter	37,902
Total	$44,934

StockBased_Awards_Additional_I

Stock-Based Awards - Additional Information (Detail)	9 Months Ended
	Sep. 30, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'
Option vested period	'10 years
Option issued period	'Options are issued generally for terms of ten years
Minimum [Member]	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'
Option vested period	'2 years
Minimum [Member] | Restricted stock [Member]	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'
Option vested period	'1 year
Maximum [Member]	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'
Option vested period	'4 years
Maximum [Member] | Restricted stock [Member]	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'
Option vested period	'4 years

StockBased_Awards_Summary_of_O

Stock-Based Awards - Summary of Options and Restricted Stock Activity (Detail) (USD $)	9 Months Ended
	Sep. 30, 2013
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price Rollforward	'
Options, beginning balance	12,760,191
Options, granted	'
Options, exercised/vested	-1,998,000
Options, forfeitures	-37,500
Options, ending balance	10,724,691
Weighted average exercise price of options, beginning balance	$0.95
Weighted average exercise price of options, granted	'
Weighted average exercise price of options, exercised/vested	$0.68
Weighted average exercise price of options, forfeitures	$4.23
Weighted average exercise price of options, ending balance	$0.99
Restricted stock awards, beginning balance	1,281,144
Restricted stock awards, granted	981,810
Restricted stock awards, exercised/vested	-308,334
Restricted stock awards, forfeitures	-5,328
Restricted stock awards, ending balance	1,949,292

StockBased_Awards_Summary_of_S

Stock-Based Awards - Summary of Stock-Based Compensation Expense (Detail) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]	'	'	'	'
Stock-based compensation expense	$1,781	$1,870	$5,186	$5,903
Employees and directors [Member]	'	'	'	'
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]	'	'	'	'
Stock-based compensation expense	1,781	1,256	5,186	3,917
Non-employees [Member]	'	'	'	'
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]	'	'	'	'
Stock-based compensation expense	'	$614	'	$1,986

Earnings_Per_Share_Reconciliat

Earnings Per Share - Reconciliation of Basic and Diluted Earnings Per Share (Detail) (USD $)	3 Months Ended		9 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Earnings Per Share Diluted Other Disclosures [Abstract]	'	'	'	'
Net income	$14,965	$4,533	$35,061	$5,777
Shares of common stock and common stock equivalents:	'	'	'	'
Weighted averages shares used in basic computation	126,509	123,214	125,909	121,445
Dilutive effect of stock options and unvested restricted stock	13,588	15,244	13,896	16,433
Weighted averages shares used in dilutive computation	140,097	138,458	139,805	137,878
Basic earnings per share	$0.12	$0.04	$0.28	$0.05
Dilutive earnings per share	$0.11	$0.03	$0.25	$0.04

Shares_Repurchased_Additional_

Shares Repurchased - Additional Information (Detail) (USD $)	9 Months Ended
In Thousands, except Share data, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012
Equity [Abstract]	'	'
Repurchased common stock, shares	118,156	182,172
Repurchased shares, value	$1,413	$1,169

Public_Offerings_Additional_In

Public Offerings - Additional Information (Detail) (USD $)	1 Months Ended		3 Months Ended	9 Months Ended
In Thousands, except Share data, unless otherwise specified	Nov. 30, 2012	Feb. 29, 2012	Dec. 31, 2012	Sep. 30, 2012
Earnings Per Share Pro Forma [Abstract]	'	'	'	'
Public offering of common stock per share amount	$6.10	$5.61	'	'
Shares sold by company	'	1,000,000	'	'
Number of shares sold by stockholders	27,795,630	15,516,587	'	'
Proceeds after commissions and other direct selling expenses	'	$4,329	'	$4,329
Sale of Stock, Consideration Received on Transaction	0	'	'	'
Proceeds from Existing Shareholders on Sale	0	'	'	'
Expenses related to offering	'	'	$353	'

ETF_Shareholder_Proxy_Solicita1

ETF Shareholder Proxy Solicitation - Additional Information (Detail) (USD $)	9 Months Ended	12 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2012	Dec. 31, 2012
Stockholders Equity Note [Abstract]	'	'
Percentage of common stock own by beneficial owner	'	25.50%
Reduced percentage of common stock owned by beneficial owner due to sell or transfer	'	25.00%
Threshold percentage of ownership presumes change in control	'	25.00%
ETF shareholders proxy	$3,264	$3,264