Document and Entity Information
Document and Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2015 | Feb. 26, 2016 | Jun. 30, 2015 | |
Document And Entity Information [Abstract] | |||
Document Type | 10-K | ||
Amendment Flag | false | ||
Document Period End Date | Dec. 31, 2015 | ||
Document Fiscal Year Focus | 2,015 | ||
Document Fiscal Period Focus | FY | ||
Trading Symbol | SMSI | ||
Entity Registrant Name | SMITH MICRO SOFTWARE INC | ||
Entity Central Index Key | 948,708 | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Filer Category | Smaller Reporting Company | ||
Entity Common Stock, Shares Outstanding | 45,729,272 | ||
Entity Public Float | $ 45,553,408 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Current assets: | ||
Cash and cash equivalents | $ 8,819 | $ 10,165 |
Short-term investments | 4,078 | 2,880 |
Accounts receivable, net of allowances for doubtful accounts and other adjustments of $201 (2015) and $602 (2014) | 8,145 | 8,216 |
Income tax receivable | 13 | 706 |
Inventories, net of reserves for excess and obsolete inventory of $158 (2015) and $151 (2014) | 39 | 97 |
Prepaid expenses and other current assets | 692 | 765 |
Total current assets | 21,786 | 22,829 |
Equipment and improvements, net | 2,492 | 4,273 |
Other assets | 195 | 214 |
Deferred tax asset | 74 | |
Total assets | 24,473 | 27,390 |
Current liabilities: | ||
Accounts payable | 1,708 | 1,521 |
Accrued liabilities | 5,064 | 5,752 |
Deferred revenue | 440 | 1,498 |
Deferred tax liability | 74 | |
Total current liabilities | 7,212 | 8,845 |
Non-current liabilities: | ||
Deferred rent and other long term liabilities | 3,235 | 3,643 |
Total non-current liabilities | $ 3,235 | $ 3,643 |
Commitments and contingencies (Note 5) | ||
Stockholders' equity: | ||
Preferred stock, par value $0.001 per share; 5,000,000 shares authorized; none issued or outstanding | ||
Common stock, par value $0.001 per share; 100,000,000 shares authorized; 45,729,272 and 45,000,891 shares issued and outstanding at December 31, 2015 and December 31, 2014, respectively | $ 46 | $ 45 |
Additional paid-in capital | 224,867 | 223,141 |
Accumulated comprehensive deficit | (210,887) | (208,284) |
Total stockholders' equity | 14,026 | 14,902 |
Total liabilities and stockholders' equity | $ 24,473 | $ 27,390 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Statement of Financial Position [Abstract] | ||
Allowances for doubtful accounts receivable | $ 201 | $ 602 |
Reserves for excess and obsolete inventory | $ 158 | $ 151 |
Preferred stock, par value | $ 0.001 | $ 0.001 |
Preferred stock, shares authorized | 5,000,000 | 5,000,000 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Common stock, par value | $ 0.001 | $ 0.001 |
Common stock, shares authorized | 100,000,000 | 100,000,000 |
Common stock, shares issued | 45,729,272 | 45,000,891 |
Common stock, shares outstanding | 45,729,272 | 45,000,891 |
Consolidated Statements of Oper
Consolidated Statements of Operations and Comprehensive Loss - USD ($) shares in Thousands, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Income Statement [Abstract] | |||
Revenues | $ 39,507 | $ 36,979 | $ 42,675 |
Cost of revenues | 8,152 | 9,317 | 9,707 |
Gross profit | 31,355 | 27,662 | 32,968 |
Operating expenses: | |||
Selling and marketing | 8,902 | 9,559 | 15,675 |
Research and development | 13,863 | 14,192 | 21,305 |
General and administrative | 11,128 | 13,218 | 18,216 |
Restructuring expenses | 2,435 | 5,602 | |
Total operating expenses | 33,893 | 39,404 | 60,798 |
Operating loss | (2,538) | (11,742) | (27,830) |
Interest and other income (expense), net | 4 | (8) | 30 |
Loss before provision for income taxes | (2,534) | (11,750) | (27,800) |
Provision for income tax expense | 68 | 49 | 153 |
Net loss | (2,602) | (11,799) | (27,953) |
Other comprehensive income (loss), before tax: | |||
Unrealized holding gains (losses) on available-for-sale securities | (1) | 7 | |
Income tax expense related to items of other comprehensive income | 0 | 0 | 0 |
Other comprehensive income (expense), net of tax | (1) | 7 | |
Comprehensive loss | $ (2,603) | $ (11,799) | $ (27,946) |
Net loss per share: | |||
Basic and diluted | $ (0.06) | $ (0.29) | $ (0.76) |
Weighted average shares outstanding: | |||
Basic and diluted | 45,946 | 40,649 | 36,982 |
Consolidated Statements of Stoc
Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands | Total | Common stock [Member] | Additional paid-in capital [Member] | Accumulated comprehensive income (deficit) [Member] |
BALANCE at Dec. 31, 2012 | $ 42,662 | $ 36 | $ 211,165 | $ (168,539) |
BALANCE, Shares at Dec. 31, 2012 | 35,873,000 | |||
Non cash compensation recognized on stock options and ESPP | 168 | 168 | ||
Restricted stock grants, net of cancellations | 3,365 | $ 1 | 3,364 | |
Restricted stock grants, net of cancellations, shares | 1,179,000 | |||
Cancellation of shares for payment of withholding tax | (114) | (114) | ||
Cancellation of shares for payment of withholding tax, shares | (96,000) | |||
Employee stock purchase plan | 36 | 36 | ||
Employee stock purchase plan, shares | 38,000 | |||
Comprehensive loss | (27,946) | (27,946) | ||
BALANCE at Dec. 31, 2013 | 18,171 | $ 37 | 214,619 | (196,485) |
BALANCE, Shares at Dec. 31, 2013 | 36,994,000 | |||
Exercise of common stock options | $ 6 | 6 | ||
Exercise of common stock options, shares | 4,000 | 4,000 | ||
Non cash compensation recognized on stock options and ESPP | $ 157 | 157 | ||
Restricted stock grants, net of cancellations | 3,495 | $ 1 | 3,494 | |
Restricted stock grants, net of cancellations, shares | 1,421,000 | |||
Cancellation of shares for payment of withholding tax | (391) | (391) | ||
Cancellation of shares for payment of withholding tax, shares | (292,000) | |||
Employee stock purchase plan | 21 | 21 | ||
Employee stock purchase plan, shares | 27,000 | |||
Issuance of common stock in a private placement | 5,242 | $ 7 | 5,235 | |
Issuance of common stock in a private placement, shares | 6,846,000 | |||
Comprehensive loss | (11,799) | (11,799) | ||
BALANCE at Dec. 31, 2014 | $ 14,902 | $ 45 | 223,141 | (208,284) |
BALANCE, Shares at Dec. 31, 2014 | 45,000,891 | 45,000,000 | ||
Exercise of common stock options | $ 10 | 10 | ||
Exercise of common stock options, shares | 8,000 | 8,000 | ||
Non cash compensation recognized on stock options and ESPP | $ 186 | 186 | ||
Restricted stock grants, net of cancellations | 1,967 | $ 1 | 1,966 | |
Restricted stock grants, net of cancellations, shares | 1,091,000 | |||
Cancellation of shares for payment of withholding tax | (458) | (458) | ||
Cancellation of shares for payment of withholding tax, shares | (394,000) | |||
Tax benefit deficiencies related to restricted stock expense | 5 | 5 | ||
Employee stock purchase plan | 17 | 17 | ||
Employee stock purchase plan, shares | 24,000 | |||
Comprehensive loss | (2,603) | (2,603) | ||
BALANCE at Dec. 31, 2015 | $ 14,026 | $ 46 | $ 224,867 | $ (210,887) |
BALANCE, Shares at Dec. 31, 2015 | 45,729,272 | 45,729,000 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Operating activities: | |||
Net loss | $ (2,602) | $ (11,799) | $ (27,953) |
Adjustments to reconcile net loss to net cash used in operating activities: | |||
Depreciation and amortization | 1,904 | 2,931 | 4,006 |
Long-lived assets write-off due to restructuring | 1,011 | ||
Loss on disposal of fixed assets | 1 | ||
Provision for adjustments to accounts receivable and doubtful accounts | 31 | 347 | 730 |
Provision for excess and obsolete inventory | 48 | 124 | 76 |
Tax benefits from stock-based compensation | (5) | ||
Non cash compensation related to stock options and restricted stock | 2,158 | 3,652 | 3,533 |
Deferred income taxes | (2) | ||
Change in operating accounts: | |||
Accounts receivable | 40 | (1,000) | 660 |
Income tax receivable | 688 | (7) | (18) |
Inventories | 10 | (54) | (67) |
Prepaid expenses and other assets | 92 | 114 | (9) |
Accounts payable and accrued liabilities | (1,362) | (2,189) | 2,429 |
Deferred revenue | (1,058) | 1,034 | (972) |
Net cash used in operating activities | (55) | (6,849) | (16,574) |
Investing activities: | |||
Capital expenditures | (124) | (216) | (829) |
Sales (purchases) of short-term investments | (1,199) | 198 | 10,257 |
Net cash provided by (used in) investing activities | (1,323) | (18) | 9,428 |
Financing activities: | |||
Cash received from issuance of common stock, net of offering costs | 5,242 | ||
Cash received from stock sale for employee stock purchase plan | 17 | 21 | 36 |
Cash received from exercise of stock options | 10 | 6 | |
Tax benefits received from stock-based compensation | 5 | ||
Net cash provided by financing activities | 32 | 5,269 | 36 |
Net decrease in cash and cash equivalents | (1,346) | (1,598) | (7,110) |
Cash and cash equivalents, beginning of period | 10,165 | 11,763 | 18,873 |
Cash and cash equivalents, end of period | 8,819 | 10,165 | 11,763 |
Supplemental disclosures of cash flow information: | |||
Cash paid for income taxes | 17 | $ 75 | 165 |
Change in unrealized gain (loss) on short-term investments | $ (1) | $ 7 |
Organization, Basis of Presenta
Organization, Basis of Presentation and Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2015 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Organization, Basis of Presentation and Summary of Significant Accounting Policies | 1. Organization, Basis of Presentation and Summary of Significant Accounting Policies The Company Smith Micro provides software to simplify and enhance the mobile experience. As a leader in wireless connectivity, our applications ensure high quality of service for mobile users while optimizing networks for wireless service providers and enterprises. Using our intelligent device software, along with premium voice, video and messaging applications, we create new opportunities to engage consumers and monetize mobile services. In addition to wireless solutions, Smith Micro develops 2D/3D graphics software used by professional artists, animators, illustrators, and designers worldwide. Smith Micro’s mission is to help our customers thrive in a connected world. Over the past three decades, we have developed deep expertise in embedded software for mobile devices, policy-based management platforms, and highly-scalable client and server applications. Our wireless software is used by Tier 1 mobile network operators, cable providers, and device manufacturers, as well as enterprise companies across a wide range of industries, helping these businesses capitalize on the growth of connected consumers and the Internet of Things (“IoT”). Specifically, we help our customers: • optimize networks, reduce operational costs, and deliver “best-connected” user experiences; • manage mobile devices over the air for maximum performance, efficiency and reliability; • provide greater insight into user experience to improve service quality and customer loyalty; • engage and grow high-value relationships with their customers using smartphones. We continue to innovate and evolve our business to take advantage of industry trends and emerging markets, such as “Big Data” analytics, the explosion of Wi-Fi hotspots, and business-to-consumer (“B2C”) mobile marketing and advertising. The key to our longevity, however, is not simply technology innovation, but a never-ending focus on customer value. Basis of Presentation The accompanying consolidated financial statements reflect the operating results and financial position of Smith Micro Software, Inc. and its wholly owned subsidiaries in accordance with accounting principles generally accepted in the United States of America. All intercompany amounts have been eliminated in consolidation. Foreign Currency Transactions The Company has international operations resulting from acquisitions in prior years. The countries in which the Company has a subsidiary or branch office in are Serbia, the United Kingdom and Canada. The functional currency for all of these foreign entities is the U.S. dollar in accordance with the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic No. 830-30, Foreign Currency Matters-Translation of Financial Statements. Foreign currency transactions that increase or decrease expected functional currency cash flows is a foreign currency transaction gain or loss that are included in determining net income for the period in which the exchange rate changes. Likewise, a transaction gain or loss (measured from the transaction date or the most recent intervening balance sheet date, whichever is later) realized upon settlement of a foreign currency transaction is included in determining net income for the period in which the transaction is settled. Use of Estimates The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the U.S. requires management to make estimates and assumptions that affect the reported amounts in the consolidated financial statements and accompanying notes. Actual results could differ from those estimates. Fair Value of Financial Instruments The Company measures and discloses fair value measurements as required by FASB ASC Topic No. 820, Fair Value Measurements and Disclosures. The carrying value of accounts receivable and accounts payable are considered to be representative of their respective fair values because of the short-term nature of those instruments. Fair value is an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. As such, fair value is a market-based measurement that is determined based on assumptions that market participants would use in pricing an asset or a liability. As a basis for considering such assumptions, the FASB establishes a three-tier value hierarchy, which prioritizes the inputs used in the valuation methodologies in measuring fair value: • Level 1 - Observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets. • Level 2 - Include other inputs that are directly or indirectly observable in the marketplace. • Level 3 - Unobservable inputs which are supported by little or no market activity. The fair value hierarchy also requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. As required by FASB ASC Topic No. 820, we measure our cash equivalents and short-term investments at fair value. Our cash equivalents and short-term investments are classified within Level 1 by using quoted market prices utilizing market observable inputs. Significant Concentrations For the year ended December 31, 2015, two customers, each accounting for over 10% of revenues, made up 76.7% of revenues and 83% of accounts receivable, and one service provider with more than 10% of purchases totaled 24% of accounts payable. For the year ended December 31, 2014, two customers, each accounting for over 10% of revenues, made up 79.2% of revenues and 87% of accounts receivable, and one service provider with more than 10% of purchases totaled 27% of accounts payable. For the year ended December 31, 2013, three customers, each accounting for over 10% of revenues, made up 77.5% of revenues and 83% of accounts receivable, and one service provider with more than 10% of purchases totaled 28% of accounts payable. The Company currently outsources a key information technology service, an important component of one of its products, from one supplier. Although there are a limited number of third party providers for this type of service, management believes that other suppliers could provide similar services on comparable terms. A change in suppliers, however, could cause a disruption or delay in services which could result in a possible loss of revenues and customer confidence, all of which would adversely affect our operating results. Cash and Cash Equivalents Cash and cash equivalents generally consist of cash, government securities, mutual funds, and money market funds. These securities are primarily held in two financial institutions and are uninsured except for the minimum Federal Deposit Insurance Corporation (“FDIC”) coverage, and have original maturity dates of three months or less. As of December 31, 2015 and 2014, bank balances totaling approximately $8.5 million and $9.9 million, respectively, were uninsured. Short-Term Investments Short-term investments consist of corporate notes, bonds, and commercial paper and U.S. government agency and government sponsored enterprise obligations. The Company accounts for these short-term investments as required by FASB ASC Topic No. 320, Investments-Debt and Equity Securities. These debt and equity securities are not classified as either held-to-maturity securities or trading securities. As such, they are classified as available-for-sale securities. Available-for-sale securities are recorded at fair value, with unrealized gains or losses recorded as a separate component of accumulated other comprehensive income in stockholders’ equity until realized. Accounts Receivable and Allowance for Doubtful Accounts We sell our products worldwide. We perform ongoing credit evaluations of our customers and adjust credit limits based upon payment history, the customer’s current credit worthiness and various other factors, as determined by our review of their current credit information. We continuously monitor collections and payments from our customers. We estimate credit losses and maintain an allowance for doubtful accounts reserve based upon these estimates. While such credit losses have historically been within our estimated reserves, we cannot guarantee that we will continue to experience the same credit loss rates that we have in the past. If not, this could have an adverse effect on our consolidated financial statements. Allowances for product returns are included in other adjustments to accounts receivable on the accompanying consolidated balance sheets. Product returns are estimated based on historical experience and have also been within management’s estimates. Inventories Inventories consist principally of compact disks (“CDs”), boxes and manuals and are stated at the lower of cost (determined by the first-in, first-out method) or market. The Company regularly reviews its inventory quantities on hand and records a provision for excess and obsolete inventory based primarily on management’s forecast of product demand and production requirements. At December 31, 2015 and 2014, our net inventory of $39,000 and $97,000, respectively, consisted mostly of components. Equipment and Improvements Equipment and improvements are stated at cost. Depreciation is computed using the straight-line method based on the estimated useful lives of the assets, generally ranging from three to seven years. Leasehold improvements are amortized using the straight-line method over the shorter of the estimated useful life of the asset or the lease term. Internal Software Development Costs Development costs incurred in the research and development of new software products and enhancements to existing software products are expensed as incurred until technological feasibility has been established. The Company considers technological feasibility to be established when all planning, designing, coding, and testing has been completed according to design specifications. After technological feasibility is established, any additional costs are capitalized. Through December 31, 2015, software has been substantially completed concurrently with the establishment of technological feasibility; accordingly, no costs have been capitalized to date. Deferred Rent and Other Long-Term Liabilities The long-term liabilities are for deferred rent to account for the difference between straight-line and bargain rents, lease incentives included in deferred rent, restructuring expenses, and sublease deposits. Revenue Recognition We currently report our net revenues under two operating groups: Wireless and Graphics. Within each of these groups, software revenue is recognized based on the customer and contract type. We recognize revenue when persuasive evidence of an arrangement exists, delivery has occurred, the price is fixed and determinable, and collectability is probable as required by FASB ASC Topic No. 985-605, Software-Revenue Recognition. We recognize revenues from sales of our software to our customers or end users as completed products are shipped and title passes or from royalties generated as authorized customers duplicate our software, if the other requirements are met. If the requirements are not met at the date of shipment, revenue is not recognized until these elements are known or resolved. For Wireless sales, returns from customers are limited to defective goods or goods shipped in error. Historically, customer returns have not exceeded the very nominal estimates and reserves. We also provide some technical support to our customers. Such costs have historically been insignificant. We have a few multiple element agreements for which we have contracted to provide a perpetual license for use of proprietary software, to provide non-recurring engineering, and in some cases, to provide software maintenance (post contract support). For these software and software-related multiple element arrangements, we must: (1) determine whether and when each element has been delivered; (2) determine whether undelivered products or services are essential to the functionality of the delivered products and services; (3) determine the fair value of each undelivered element using vendor-specific objective evidence (“VSOE”); and (4) allocate the total price among the various elements. VSOE of fair value is used to allocate a portion of the price to the undelivered elements and the residual method is used to allocate the remaining portion to the delivered elements. Absent VSOE, revenue is deferred until the earlier of the point at which VSOE of fair value exists for any undelivered element or until all elements of the arrangement have been delivered. However, if the only undelivered element is post contract support, the entire arrangement fee is recognized ratably over the performance period. We determine VSOE for each element based on historical stand-alone sales to third parties or from the stated renewal rate for the elements contained in the initial arrangement. In determining VSOE, we require that a substantial majority of the selling prices for a product or service fall within a reasonably narrow pricing range. We have established VSOE for our post contract support services and non-recurring engineering. On occasion, we enter into fixed fee arrangements, i.e. for trials, in which customer payments are tied to the achievement of specific milestones. Revenue for these contracts is recognized based on customer acceptance of certain milestones as they are achieved. We also enter hosting arrangements that sometimes include up-front, non-refundable set-up fees. Revenue is recognized for these fees over the term of the agreement. For Graphics (formerly Productivity & Graphics) sales, management reviews available retail channel information and makes a determination of a return provision for sales made to distributors and retailers based on current channel inventory levels and historical return patterns. Certain sales to distributors or retailers are made on a consignment basis. Revenue for consignment sales are not recognized until sell through to the final customer is established. Certain revenues are booked net of revenue sharing payments. Sales directly to end users are recognized upon shipment. End users have a thirty day right of return, but such returns are reasonably estimable and have historically been immaterial. We also provide technical support to our customers. Such costs have historically been insignificant. Sales Incentives For our Graphics sales, the cost of sales incentives the Company offers without charge to customers that can be used in, or that are exercisable by a customer as a result of, a single exchange transaction is accounted for as a reduction of revenue as required by FASB ASC Topic No. 605-50, Revenue Recognition-Customer Payments and Incentives. We use historical redemption rates to estimate the cost of customer incentives. Total sales incentives were $0.2 million, $0.5 million and $1.2 million for the years ended December 31, 2015, 2014, and 2013, respectively. Advertising Expense Advertising costs are expensed as incurred. Advertising expenses were $0.3 million, $0.3 million, and $0.4 million for the years ended December 31, 2015, 2014, and 2013, respectively. Stock-Based Compensation The Company accounts for all stock-based payment awards made to employees and directors based on their fair values and recognized as compensation expense over the vesting period using the straight-line method over the requisite service period for each award as required by FASB ASC Topic No. 718, Compensation-Stock Compensation. Net Income (Loss) Per Share The Company calculates earnings per share (“EPS”) as required by FASB ASC Topic No. 260, Earning Per Share. Basic EPS is calculated by dividing the net income available to common stockholders by the weighted average number of common shares outstanding for the period, excluding common stock equivalents. Diluted EPS is computed by dividing the net income available to common stockholders by the weighted average number of common shares outstanding for the period, plus the weighted average number of dilutive common stock equivalents outstanding for the period determined using the treasury-stock method. For purposes of this calculation, common stock subject to repurchase by the Company and options are considered to be common stock equivalents and are only included in the calculation of diluted earnings per share when their effect is dilutive. Year Ended December 31, 2015 2014 2013 (in thousands, except per share amounts) Numerator: Net loss available to common stockholders ($ 2,602 ) ($ 11,799 ) ($ 27,953 ) Denominator: Weighted average shares outstanding - basic 45,946 40,649 36,982 Potential common shares - options (treasury stock method) — — — Weighted average shares outstanding - diluted 45,946 40,649 36,982 Shares excluded (anti-dilutive) 70 150 2 Shares excluded due to an exercise price greater than weighted average stock price for the period 1,132 1,511 2,150 Net loss per common share: Basic ($ 0.06 ) ($ 0.29 ) ($ 0.76 ) Diluted ($ 0.06 ) ($ 0.29 ) ($ 0.76 ) Recent Accounting Pronouncements In November 2015, the Financial Accounting Standards Board (“FASB”) issued final guidance in Accounting Standards Update 2015-17, Balance Sheet Classification of Deferred Taxes, The Company is early adopting this standard for the interim and annual period ending December 31, 2015 on a prospective basis. As such, prior periods were not retrospectively adjusted. Due to the Company’s full valuation allowance on its deferred tax assets, the nature of the change on the balance sheet is not significant. In August 2014, the FASB issued Accounting Standards Update (“ASU”) No. 2014-15, Presentation of Financial Statements-Going Concern (Subtopic 205-40 In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606). |
Restructuring
Restructuring | 12 Months Ended |
Dec. 31, 2015 | |
Restructuring and Related Activities [Abstract] | |
Restructuring | 2. Restructuring 2014 Restructuring On May 6, 2014, the Board of Directors approved a plan of restructuring intended to streamline and flatten the Company’s organization, reduce overall headcount by approximately 20%, and reduce its overall cost structure by approximately $2.0 million per quarter. The restructuring plan resulted in special charges totaling $1.8 million recorded during the three-month period ended June 30, 2014. These charges were for non-cash stock-based compensation expense of $1.3 million, severance costs for affected employees of $0.4 million, and other related costs of $0.1 million. 2013 Restructuring On July 25, 2013, the Board of Directors approved a plan of restructuring intended to bring the Company’s operating expenses better in line with revenues. The restructuring plan involved a realignment of organizational structures, facility consolidations/closures, and headcount reductions of approximately 26% of the Company’s worldwide workforce. The restructuring plan was implemented primarily during the three-month period ended September 30, 2013 and resulted in annualized savings of approximately $16.0 million. The restructuring plan resulted in special charges totaling $5.6 million recorded in the year ended December 31, 2013. These charges were for lease/rental terminations of $3.3 million, severance costs for affected employees of $1.1 million, equipment, and improvements write-offs as a result of our lease/rental terminations of $1.0 million and other related costs of $0.2 million. In the year ended December 31, 2014, we increased the reserve by $0.6 million due to changes in our assumptions on future sublease income on our lease terminations of $0.8 million, partially offset by adjustments to our one-time employee termination benefits. Following is the activity in our restructuring liability for the year ended December 31, 2015 (in thousands): December 31, 2014 December 31, 2015 Balance Provision-net Usage Balance Lease/rental terminations $ 2,800 $ (13 ) $ (664 ) $ 2,123 Datacenter consolidation, other 89 13 (16 ) 86 Total $ 2,889 $ — $ (680 ) $ 2,209 |
Balance Sheet Details
Balance Sheet Details | 12 Months Ended |
Dec. 31, 2015 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Balance Sheet Details | 3. Balance Sheet Details Short-Term Investments Short-term investments consist of U.S. government agency and government sponsored enterprise obligations. The Company accounts for these short-term investments as required by FASB ASC Topic No. 320, Investments-Debt and Equity Securities. These debt and equity securities are not classified as either held-to-maturity securities or trading securities. As such, they are classified as available-for-sale securities. Available-for-sale securities are recorded at fair value, with unrealized gains or losses recorded as a separate component of accumulated other comprehensive income in stockholders’ equity until realized. Available-for-sale securities with contractual maturities of less than 12 months were as follows (in thousands): December 31, 2015 December 31, 2014 Amortized Gross Fair value Amortized Gross Fair value Corporate bonds and notes $ — $ — $ — $ 1,000 $ (1 ) $ 999 Government securities/money market 4,080 (2 ) 4,078 1,881 — 1,881 Total $ 4,080 $ (2 ) $ 4,078 $ 2,881 $ (1 ) $ 2,880 There were no realized gains (losses) recognized in interest and other income for the years ended December 31, 2015, 2014, and 2013. Equipment and Improvements Equipment and improvements consist of the following (in thousands): December 31, 2015 2014 Computer hardware, software, and equipment $ 16,288 $ 16,143 Leasehold improvements 5,170 5,170 Office furniture and fixtures 1,214 1,213 22,672 22,526 Less accumulated depreciation and amortization (20,180 ) (18,253 ) Equipment and improvements, net $ 2,492 $ 4,273 Depreciation and amortization expense on equipment and improvements was $1.9 million, $2.9 million and $4.0 million for the years ended December 31, 2015, 2014, and 2013 respectively. Other Assets These are office rent deposits. Accrued Liabilities Accrued liabilities consist of the following (in thousands): December 31, 2015 2014 Salaries and benefits $ 2,723 $ 2,779 Restructuring 442 912 Pennsylvania grant liability 1,000 1,000 Royalties and revenue sharing 643 835 Income taxes 205 160 Marketing expenses, rebates, and other 51 66 Total accrued liabilities $ 5,064 $ 5,752 Deferred Rent and Other Long-Term Liabilities Deferred rent and other long-term liabilities consist of the following (in thousands): December 31, 2015 2014 Deferred rent $ 1,402 $ 1,643 Restructuring - beyond one year 1,767 1,977 Sublease deposits 66 23 Total deferred rent and other long-term liabilities $ 3,235 $ 3,643 |
Income Taxes
Income Taxes | 12 Months Ended |
Dec. 31, 2015 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | 4. Income Taxes Income (loss) before provision for income taxes was generated from the following sources (in thousands): Year Ended December 31, 2015 2014 2013 Domestic $ (2,651 ) $ (11,867 ) $ (27,968 ) Foreign 117 117 168 Total loss before provision for income taxes $ (2,534 ) $ (11,750 ) $ (27,800 ) A summary of the income tax expense is as follows (in thousands): Year Ended December 31, 2015 2014 2013 Current: Federal $ — $ — $ — State 5 5 (19 ) Foreign 63 44 172 Total current 68 49 153 Deferred: Federal — — — State — — — Foreign — — — Total deferred — — — Total provision $ 68 $ 49 $ 153 A reconciliation of the provision for income taxes to the amount of income tax expense that would result from applying the federal statutory rate to the profit before income taxes is as follows: Year Ended December 31, 2015 2014 2013 Federal statutory rate 35.0 % 35.0 % 35.0 % State tax, net of federal benefit (20.4 ) 1.2 4.0 Equity compensation (13.7 ) (6.6 ) (3.0 ) International tax items (4.6 ) 0.1 0.1 Foreign taxes (2.5 ) (0.4 ) (0.6 ) Other (10.6 ) (2.5 ) 2.5 Miscellaneous (1.1 ) 0.0 0.0 Change in valuation allowance 15.2 (27.5 ) (39.0 ) (2.7 )% (0.7 )% (1.0 )% The major components of the Company’s deferred tax assets and liabilities are as follows (in thousands): Year Ended December 31, 2015 2014 Deferred income tax assets Net operating loss carry forwards $ 48,003 $ 44,754 Credit carry forwards 3,708 3,708 Fixed Assets 1,181 1,466 Intangibles 19,588 23,029 Equity based compensation 311 279 Nondeductible accruals 1,977 2,382 Various reserves 142 149 Other 56 51 Valuation Allowance (74,907 ) (75,744 ) Total deferred income taxes - net 59 74 Deferred income tax liabilities Prepaid expenses (59 ) (74 ) Total deferred income liabilities (59 ) (74 ) Net deferred income tax assets (liabilities) $ — $ — The Company has federal and state net operating loss (“NOL”) carryforwards of approximately $111.2 million and $107.9 million, respectively, at December 31, 2015, to reduce future cash payments for income taxes. Of the $111.2 million of NOL carryforwards at December 31, 2015, $0.5 million relates to the excess tax benefits from employee restricted stock. Equity will be increased by $0.5 million, if and when such excess tax benefits are ultimately realized. These federal NOL carryforwards will expire from 2024 through 2035 and state NOL carryforwards will expire 2015 through 2035. The Company also had $0.5 million of AMT credit carryforwards with an indefinite life, available to offset regular federal income tax requirements. The Company has federal and state tax credit carryforwards of approximately $2.5 million and $0.7 million, respectively, at December 31, 2015. These tax credits will begin to expire in 2027. To the extent that an ownership change has occurred under Internal Revenue Code Sections 382 and 383, the Company’s use of its loss carryforwards and credit carryforwards to offset future taxable income may be limited. At December 31, 2015 and 2014, the Company had unrecognized tax benefits, including interest and penalties of approximately $0.6 million for both years. The Company’s gross unrecognized tax benefits as of December 31, 2015 and 2014 and the changes in those balances are as follows (in thousands): Year Ended December 31, 2015 2014 Beginning balance $ 592 $ 592 Increases/(decreases) in tax positions for the current year — — Increases/(decreases) in tax positions for the prior year — — Gross unrecognized tax benefits, ending balance $ 592 $ 592 We account for income taxes as required by FASB ASC Topic No. 740, Income Taxes. This Topic clarifies the accounting for uncertainty in income taxes recognized in an enterprise’s financial statements and prescribes a recognition threshold and measurement process for financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. The Topic also provides guidance on derecognition, classification, interest and penalties, accounting in interim periods, disclosure, and transition. The Topic requires an entity to recognize the financial statement impact of a tax position when it is more likely than not that the position will be sustained upon examination. The amount recognized is measured as the largest amount of benefit that is greater than fifty percent likely of being realized upon ultimate settlement. In addition, the Topic permits an entity to recognize interest and penalties related to tax uncertainties either as income tax expense or operating expenses. The Company has chosen to recognize interest and penalties related to tax uncertainties as income tax expense. The Company assesses whether a valuation allowance should be recorded against its deferred tax assets based on the consideration of all available evidence, using a “more likely than not” realization standard. The four sources of taxable income that must be considered in determining whether deferred tax assets will be realized are: (1) future reversals of existing taxable temporary differences (i.e., offset of gross deferred tax liabilities against gross deferred tax assets); (2) taxable income in prior carryback years, if carryback is permitted under the applicable tax law; (3) tax planning strategies; and (4) future taxable income exclusive of reversing temporary differences and carryforwards. After a review of the four sources of taxable income as of December 31, 2015 (as described above), and after consideration of the Company’s continuing cumulative loss position as of December 31, 2015, the Company recorded a valuation allowance related to its U.S.-based deferred tax assets of $74.9 million at December 31, 2015. During fiscal year 2015, the valuation allowance on deferred tax assets decreased by $0.8 million and increased during fiscal years 2014 and 2013, by $3.2 million and $12.1 million, respectively. We recognized interest and penalties accrued related to unrecognized tax benefits in income tax expense. During the fiscal years 2015 and 2014, we recognized approximately $3,000 of interest and penalties in each year. The cumulative interest and penalties at December 31, 2015 and 2014 were 47,000 and $44,000, respectively. Unrecognized tax benefits of $0.2 million at December 31, 2015 would impact the effective tax rate. We anticipate a decrease in gross unrecognized tax benefits of approximately $0.2 million within the next twelve months based on federal, state, and foreign statute expirations. The Company is subject to U.S. federal income tax, as well as to income tax of multiple state jurisdictions. Federal income tax returns of the Company are subject to IRS examination for the 2012, 2013, and 2014 tax years. State income tax returns are subject to examination for a period of three to four years after filing. The Company closed their federal audit of the 2011 loss carry back claim during the year with no impact to the financial statements. As of December 31, 2015, the Company had no outstanding tax audits. The outcome of tax audits cannot be predicted with certainty. If any issues addressed in the Company’s tax audits are resolved in a manner not consistent with management’s expectations, the Company could be required to adjust its provision for income tax in the period such resolution occurs. In November 2015, the FASB issued final guidance in ASU 2015-17, Balance Sheet Classification of Deferred Taxes, The Company is early adopting this standard for the interim and annual period ending December 31, 2015 on a prospective basis. As such, prior periods were not retrospectively adjusted. Due to the Company’s full valuation allowance on its deferred tax assets, the nature of the change on the balance sheet is not significant. |
Commitments and Contingencies
Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2015 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | 5. Commitments and Contingencies Leases The Company leases its buildings under operating leases that expire on various dates through 2022. Future minimum annual lease payments under such leases as of December 31, 2015 are as follows (in thousands): Year Ending December 31, Operating 2016 $ 1,863 2017 1,536 2018 1,534 2019 1,507 2020 1,519 Beyond 1,562 Total $ 9,521 As of December 31, 2015, $4.8 million of the remaining lease commitments expense has been accrued as part of the 2013 Restructuring Plan, partially offset by future estimated sublease income of $2.5 million. Total rent expense was $1.3 million, $1.2 million and $2.4 million for the years ended December 31, 2015, 2014, and 2013, respectively. As a condition of our new lease in Pittsburgh, the landlord agreed to incentives of $40.00 per square foot, or a total of $2.2 million, for improvements to the space. These costs have been included in deferred rent in our long-term liabilities and are being amortized over the remaining lease term. Pennsylvania Opportunity Grant Program On September 26, 2011, we received $1.0 million from the State of Pennsylvania to help fund our agreement to start-up a new facility. The grant carried with it an obligation, or commitment, to employ at least 232 people within a three-year time period that ended on December 31, 2013. We received an extension of time to meet this employment commitment. The new deadline is now April 30, 2016. This grant contains conditions that would require us to return a pro-rata amount of the monies received if we fail to meet these conditions. As such, the monies have been recorded as a liability in the accrued liabilities line item on the balance sheet until we are irrevocably entitled to retain the monies, or until it is determined that we need to return a portion or all of the monies received. Litigation The Company may become involved in various legal proceedings arising from its business activities. While management does not believe the ultimate disposition of these matters will have a material adverse impact on the Company’s consolidated results of operations, cash flows, or financial position, litigation is inherently unpredictable, and depending on the nature and timing of these proceedings, an unfavorable resolution could materially affect the Company’s future consolidated results of operations, cash flows, or financial position in a particular period. Other Contingent Contractual Obligations During its normal course of business, the Company has made certain indemnities, commitments, and guarantees under which it may be required to make payments in relation to certain transactions. These include: intellectual property indemnities to the Company’s customers and licensees in connection with the use, sale and/or license of Company products; indemnities to various lessors in connection with facility leases for certain claims arising from such facility or lease; indemnities to vendors and service providers pertaining to claims based on the negligence or willful misconduct of the Company; indemnities involving the accuracy of representations and warranties in certain contracts; and indemnities to directors and officers of the Company to the maximum extent permitted under the laws of the State of Delaware. In addition, the Company has made contractual commitments to employees providing for severance payments upon the occurrence of certain prescribed events. The Company may also issue a guarantee in the form of a standby letter of credit as security for contingent liabilities under certain customer contracts. The duration of these indemnities, commitments, and guarantees varies, and in certain cases, may be indefinite. The majority of these indemnities, commitments and guarantees may not provide for any limitation of the maximum potential for future payments the Company could be obligated to make. The Company has not recorded any liability for these indemnities, commitments, and guarantees in the accompanying consolidated balance sheets. |
Segment, Customer Concentration
Segment, Customer Concentration and Geographical Information | 12 Months Ended |
Dec. 31, 2015 | |
Segment Reporting [Abstract] | |
Segment, Customer Concentration and Geographical Information | 6. Segment, Customer Concentration and Geographical Information Segment Information Public companies are required to report financial and descriptive information about their reportable operating segments as required by FASB ASC Topic No. 280, Segment Reporting. The Company has two primary business units based on how management internally evaluates separate financial information, business activities, and management responsibility. Wireless includes our NetWise, CommSuite, and QuickLink family of products. Graphics (formerly Productivity & Graphics) includes our consumer-based products: Poser, Anime Studio, Manga Studio, MotionArtist and StuffIt. The following table shows the revenues generated by each business unit (in thousands): Year Ended December 31, 2015 2014 2013 Wireless $ 33,553 $ 31,276 $ 35,853 Graphics 5,954 5,703 6,822 Total revenues 39,507 36,979 42,675 Cost of revenues 8,152 9,317 9,707 Gross profit $ 31,355 $ 27,662 $ 32,968 Customer Concentration Information A summary of the Company’s customers that represent 10% or more of the Company’s revenues is as follows: Year Ended December 31, 2015 2014 2013 Wireless: Sprint (& affiliates) 65.4 % 68.0 % 53.1 % Verizon Wireless (& affiliates) 4.2 % 7.8 % 13.0 % Graphics: FastSpring 11.3 % 11.2 % 11.4 % The customers listed above comprised 83%, 87% and 83% of our accounts receivable as of December 31, 2015, 2014, and 2013, respectively. Our major customers could reduce their orders of our products in favor of a competitor’s product or for any other reason. The loss of any of our major customers or decisions by a significant customer to substantially reduce purchases could have a material adverse effect on our business. Geographical Information During the years ended December 31, 2015, 2014, and 2013, the Company operated in three geographic locations: the Americas, Asia Pacific and EMEA (Europe, the Middle East, and Africa). Revenues attributed to the geographic location of the customer’s bill-to address, were as follows (in thousands): Year ended December 31, 2015 2014 2013 Americas $ 39,008 $ 35,689 $ 38,532 Asia Pacific 260 326 928 EMEA 239 964 3,215 Total revenues $ 39,507 $ 36,979 $ 42,675 The Company does not separately allocate specific assets to these geographic locations. |
Profit Sharing
Profit Sharing | 12 Months Ended |
Dec. 31, 2015 | |
Compensation and Retirement Disclosure [Abstract] | |
Profit Sharing | 7. Profit Sharing The Company offers its employees a 401(k) plan, in which the Company matches the employee contribution at a rate of 20%, subject to a vesting schedule. Total employer contributions amounted to $0.2 million, $0.2 million and $0.3 million for the years ended December 31, 2015, 2014, and 2013, respectively. |
Stock-Based Compensation
Stock-Based Compensation | 12 Months Ended |
Dec. 31, 2015 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Stock-Based Compensation | 8. Stock-Based Compensation Stock Plans On June 18, 2015, our Shareholders approved the 2015 Omnibus Equity Incentive Plan (“2015 OEIP”). The 2015 OEIP, which became effective the same date, replaced the 2005 Stock Option / Stock Issuance Plan (“2005 Plan”) which was due to expire on July 28, 2015. All outstanding options under the 2005 Plan remain outstanding, but no new grants will be made under that Plan. The maximum number of shares of the Company’s common stock available for issuance over the term of the 2015 OEIP may not exceed 8,500,000 shares. The 2015 Plan provides for the issuance of full value awards (restricted stock, performance stock, dividend equivalent right or restricted stock units) and not full value awards (stock options or stock appreciation rights) to employees, non-employee members of the board and consultants. Any full value award settled in shares will be debited as 1.2 shares and not full value awards settled in shares will be debited as 1.0 shares against the share reserve. The exercise price per share for option grants is not to be less than the fair market value per share of the Company’s common stock on the date of grant. The Board of Directors has the discretion to determine the vesting schedule. Options may be exercisable immediately or in installments, but generally vest over a four-year period from the date of grant. In the event the holder ceases to be employed by the Company, all unvested options terminate and all vested options may be exercised within a period following termination. In general, options expire ten years from the date of grant. Restricted stock is valued using the closing stock price on the date of the grant. The total value is expensed over the vesting period of 12 to 48 months. Employee Stock Purchase Plan The Company has a shareholder approved employee stock purchase plan (“ESPP”), under which substantially all employees may purchase the Company’s common stock through payroll deductions at a price equal to 85% of the lower of the fair market values of the stock as of the beginning and end of six-month offering periods. An employee’s payroll deductions under the ESPP are limited to 10% of the employee’s compensation and employees may not purchase more than the lesser of $25,000 of stock, or 1,000 shares, for any purchase period. Additionally, no more than 1,000,000 shares may be purchased under the plan. Stock Compensation Expense The Company accounts for all stock-based payment awards made to employees and directors based on their fair values and recognized as compensation expense over the vesting period using the straight-line method over the requisite service period for each award as required by FASB ASC Topic No. 718, Compensation-Stock Compensation. Valuation of Stock Option and Restricted Stock Awards The assumptions used to compute the share-based compensation costs for the stock options granted during the years ended December 31, 2015, 2014, and 2013, respectively, using the Black-Scholes option pricing model, were as follows: Year Ended December 31, 2015 2014 2013 Weighted average grant-date fair value of stock options $ 0.77 $ 0.57 $ 0.63 Assumptions Risk-free interest rate (weighted average) 1.1 % 1.2 % 0.6 % Expected dividend yield — — — Weighted average expected life (years) 4 4 4 Volatility (weighted average) 83.5 % 82.9 % 68.1 % Forfeiture rate 23.3 % 25.5 % 11.4 % The risk-free interest rate assumption was based on the United States Treasury’s rates for U.S. Treasury zero-coupon bonds with maturities similar to those of the expected term of the award being valued. The Company assumed no dividend yield because it does not expect to pay dividends for the foreseeable future. The weighted average expected life is the vesting period for those options granted during that period. The average volatility is based on the actual historical volatility of our common stock. The forfeiture rate was based on modified employee turnover. Grants of restricted stock are valued using the closing stock price on the date of grant. In the year ended December 31, 2015, a total of 75,000 shares of restricted stock, with a total value of $0.1 million, were granted to non-employee members of the Board of Directors. This cost will be amortized over a period of 12 months. In addition, 1.3 million shares of restricted stock, with a total value of $2.0 million, were granted to key officers and employees of the Company. This cost will be amortized over a period of 48 months. Valuation of ESPP The fair values are estimated at the beginning of each offering period using a Black-Scholes valuation model that uses the assumptions noted in the following table. The risk-free rate is based on the U.S. treasury yield curve in effect at the time of grant. Expected volatility was based on the historical volatility on the day of grant. Following is a schedule of the shares purchased, the fair value per share, and the Black-Scholes model assumptions for each offering period: (Ending) Offering Period Ended September 30, March 31, September 30, March 31, September 30, 2015 2015 2014 2014 2013 Shares purchased for offering period 12,451 11,216 13,619 13,734 19,490 Fair value per share $ 0.60 $ 0.43 $ 0.83 $ 0.30 $ 0.44 Assumptions Risk-free interest rate (average) 0.11 % 0.40 % 0.80 % 0.40 % 0.11 % Expected dividend yield — — — — — Weighted average expected life (years) 0.5 0.5 0.5 0.5 0.5 Volatility (average) 103.8 % 109.1 % 74.0 % 44.0 % 45.0 % Compensation Costs Non-cash stock-based compensation expenses related to stock options, restricted stock grants and the ESPP were recorded in the financial statements as follows (in thousands): Year Ended December 31, 2015 2014 2013 Cost of revenues $ 12 $ 13 $ 20 Selling and marketing 335 270 766 Research and development 644 659 809 General and administrative 1,167 1,437 1,938 Restructuring expense — 1,273 — Total non-cash stock compensation expense $ 2,158 $ 3,652 $ 3,533 Total share-based compensation for each year includes cash payment of income taxes related to grants of restricted stock in the amounts of $0.1 million, $0.2 million and $0.4 million for the years ended December 31, 2015, 2014, and 2013, respectively. Stock Options A summary of the Company’s stock options outstanding under the 2015 Plan as of December 31, 2015 and the activity during the years ended herein are as follows (in thousands except per share amounts): Shares Weighted Ave. Aggregate Outstanding as of December 31, 2012 2,275 $ 7.02 $ — (1,474 options exercisable at a weighted average exercise price of $10.09) Granted (weighted average fair value of $0.63) 120 $ 1.31 Exercised — $ — Cancelled (225 ) $ 6.52 Outstanding as of December 31, 2013 2,170 $ 6.76 $ — (1,573 options exercisable at a weighted average exercise price of $8.81) Granted (weighted average fair value of $0.57) 633 $ 0.95 Exercised (4 ) $ 1.38 Cancelled (665 ) $ 5.98 Outstanding as of December 31, 2014 2,134 $ 5.29 $ — (1,291 options exercisable at a weighted average exercise price of $8.04) Granted (weighted average fair value of $0.77) 75 $ 1.27 Exercised (8 ) $ 1.19 Cancelled (556 ) $ 4.05 Outstanding as of December 31, 2015 1,645 $ 5.39 $ — Exercisable as of December 31, 2015 1,132 $ 7.34 $ — Vested and expected to vest at December 31, 2015 1,593 $ 5.53 $ — During the year ended December 31, 2015, options to acquire 8,000 shares were exercised resulting in cash proceeds to the Company of $10,000. The weighted-average grant-date fair value of options granted during the year ended December 31, 2015 was $0.77. As of December 31, 2015, there is $3.1 million of unrecognized compensation costs related to non-vested stock options and restricted stock granted under the Plan. At December 31, 2015, there were 8.5 million and 0 shares available for future grants under the 2015 Omnibus Equity Incentive Plan and 2005 Stock Issuance / Stock Option Plan, respectively. Restricted Stock Awards No restricted stock awards were granted under the 2015 Omnibus Equity Incentive Plan as of December 31, 2015. A summary of the Company’s restricted stock awards outstanding under the 2005 Plan as of December 31, 2015, and the activity during years ended therein, are as follows (in thousands): Number Weighted average Unvested at December 31, 2012 1,319 $ 4.60 Granted 1,495 $ 1.70 Vested (752 ) $ 4.43 Cancelled and forfeited (316 ) $ 3.00 Unvested at December 31, 2013 1,746 $ 2.48 Granted 1,625 $ 1.79 Vested (1,442 ) $ 2.48 Cancelled and forfeited (204 ) $ 1.79 Unvested at December 31, 2014 1,725 $ 1.91 Granted 1,375 $ 1.50 Vested (1,011 ) $ 1.95 Cancelled and forfeited (284 ) $ 1.67 Unvested at December 31, 2015 1,805 $ 1.61 |
Equity Transactions
Equity Transactions | 12 Months Ended |
Dec. 31, 2015 | |
Equity [Abstract] | |
Equity Transactions | 9. Equity Transactions On August 15, 2014, the Company entered into a common stock purchase agreement with a number of accredited investors (“Investors”) in a private placement pursuant to which the Company issued and sold to the Investors 6,845,830 shares of its common stock at a price per share of $0.816. The transaction closed on August 20, 2014 and the Company realized gross proceeds of $5.6 million before deducting commissions and other expenses. Offering costs related to the transaction totaled $0.4 million, comprised of $0.2 million of commissions and $0.2 million of legal and other expenses, resulting in net proceeds of $5.2 million. The Company filed a registration statement with the SEC providing for the resale of the shares of Common Stock issued pursuant to the Purchase Agreement. The registration statement became effective on September 25, 2014. |
Preferred Stock
Preferred Stock | 12 Months Ended |
Dec. 31, 2015 | |
Equity [Abstract] | |
Preferred Stock | 10. Preferred Stock On October 16, 2015, the Company entered into a Preferred Shares Rights Agreement (“Rights Agreement”) with Computershare Trust Company, N.A., as rights agent, in connection with a dividend distribution declared by the Company’s Board of Directors of one right (“Right”) for each outstanding share of common stock, par value $0.001 (“Common Shares”), per common share of the Company to stockholders of record as of the close of business on October 26, 2015 (“Record Date”). Each Right entitles the registered holder to purchase from the Company one one-thousandth of a share of Series A Participating Preferred Stock, par value $0.001 per share (“Preferred Shares”), of the Company at an exercise price of $6.69 per one one-thousandth of a Preferred Share, subject to adjustment. The Board adopted the Rights Agreement to protect stockholders from coercive or otherwise unfair takeover tactics. In general terms, it works by imposing a significant penalty upon any person or group that acquires 20% or more of the Common Shares without the approval of the Board. As a result, the overall effect of the Rights Agreement and the issuance of the Rights may be to render more difficult or discourage a merger, tender or exchange offer or other business combination involving the Company that is not approved by the Board. However, neither the Rights Agreement nor the Rights should interfere with any merger, tender or exchange offer or other business combination approved by the Board. |
Subsequent Events
Subsequent Events | 12 Months Ended |
Dec. 31, 2015 | |
Subsequent Events [Abstract] | |
Subsequent Events | 11. Subsequent Events The Company evaluates and discloses subsequent events as required by ASC Topic No. 855, Subsequent Events. The Topic establishes general standards of accounting for and disclosure of events that occur after the balance sheet date but before the financial statements are issued or are available to be issued. On March 8, 2016, the Company announced that it has signed a definitive agreement to acquire Birdstep Technology’s (OSO: BIRD) Swedish subsidiary based in Stockholm. The agreement is subject to approval by Birdstep shareholders and is expected to close on or around April 1, 2016. The $2 million all-cash transaction is expected to add substantial technical resources, including engineers fully trained in wireless connectivity technology, to support the growth of Smith Micro’s business, and enables the company to expand its market presence and customer base in APAC and EMEA. Subsequent events have been evaluated as of the date of this filing and there are no further disclosures required. |
Quarterly Financial Data
Quarterly Financial Data | 12 Months Ended |
Dec. 31, 2015 | |
Quarterly Financial Information Disclosure [Abstract] | |
Quarterly Financial Data | 12. Quarterly Financial Data (Unaudited) The following financial information reflects all normal recurring adjustments, which are, in the opinion of management, necessary for a fair statement of the results of the interim periods. Summarized quarterly data for fiscal 2015 and 2014 are as follows (in thousands, except per share data): Year ended December 31, 2015 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Selected quarterly financial data: Revenues $ 10,529 $ 9,386 $ 9,586 $ 10,006 Gross profit $ 8,411 $ 7,315 $ 7,627 $ 8,002 Operating income (loss) $ 2 $ (1,225 ) $ (768 ) $ (547 ) Net income (loss) $ (10 ) $ (1,231 ) $ (770 ) $ (591 ) Net (loss) per share, basic (1) $ (0.00 ) $ (0.03 ) $ (0.02 ) $ (0.01 ) Weighted average shares outstanding, basic 45,501 46,257 46,160 45,860 Net (loss) per share, diluted (1) $ (0.00 ) $ (0.03 ) $ (0.02 ) $ (0.01 ) Weighted average shares outstanding, diluted 45,501 46,257 46,160 45,860 Year ended December 31, 2014 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Selected quarterly financial data: Revenues $ 8,449 $ 8,528 $ 9,448 $ 10,554 Gross profit $ 6,029 $ 6,077 $ 7,247 $ 8,309 Operating (loss) $ (5,134 ) $ (5,681 ) $ (1,144 ) $ 217 Net (loss) $ (5,167 ) $ (5,695 ) $ (1,142 ) $ 205 Net (loss) per share, basic (1) $ (0.14 ) $ (0.15 ) $ (0.03 ) $ 0.00 Weighted average shares outstanding, basic 37,714 38,518 41,225 45,053 Net (loss) per share, diluted (1) $ (0.14 ) $ (0.15 ) $ (0.03 ) $ 0.00 Weighted average shares outstanding, diluted 37,714 38,518 41,225 45,053 (1) Basic and diluted net (loss) per share is computed independently for each of the quarters presented. Therefore, the sum of the quarterly per share amounts will not necessarily equal the total for the year. |
Schedule II - Valuation and Qua
Schedule II - Valuation and Qualifying Accounts | 12 Months Ended |
Dec. 31, 2015 | |
Valuation and Qualifying Accounts [Abstract] | |
Schedule II - Valuation and Qualifying Accounts | SCHEDULE II—VALUATION AND QUALIFYING ACCOUNTS FOR EACH OF THE THREE YEARS IN THE PERIOD ENDED DECEMBER 31, 2015 (In thousands) Balance at Additions Deductions Balance at Allowance for accounts receivable (1): 2015 $ 602 $ 31 $ (432 ) $ 201 2014 617 347 (362 ) 602 2013 482 730 (595 ) 617 Allowance for excess and obsolete inventory: 2015 $ 151 $ 48 $ (41 ) $ 158 2014 301 124 (274 ) 151 2013 352 76 (127 ) 301 (1) Allowances are for retail return reserves, marketing development funds, and doubtful accounts. |
Organization, Basis of Presen20
Organization, Basis of Presentation and Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2015 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
The Company | The Company Smith Micro provides software to simplify and enhance the mobile experience. As a leader in wireless connectivity, our applications ensure high quality of service for mobile users while optimizing networks for wireless service providers and enterprises. Using our intelligent device software, along with premium voice, video and messaging applications, we create new opportunities to engage consumers and monetize mobile services. In addition to wireless solutions, Smith Micro develops 2D/3D graphics software used by professional artists, animators, illustrators, and designers worldwide. Smith Micro’s mission is to help our customers thrive in a connected world. Over the past three decades, we have developed deep expertise in embedded software for mobile devices, policy-based management platforms, and highly-scalable client and server applications. Our wireless software is used by Tier 1 mobile network operators, cable providers, and device manufacturers, as well as enterprise companies across a wide range of industries, helping these businesses capitalize on the growth of connected consumers and the Internet of Things (“IoT”). Specifically, we help our customers: • optimize networks, reduce operational costs, and deliver “best-connected” user experiences; • manage mobile devices over the air for maximum performance, efficiency and reliability; • provide greater insight into user experience to improve service quality and customer loyalty; • engage and grow high-value relationships with their customers using smartphones. We continue to innovate and evolve our business to take advantage of industry trends and emerging markets, such as “Big Data” analytics, the explosion of Wi-Fi hotspots, and business-to-consumer (“B2C”) mobile marketing and advertising. The key to our longevity, however, is not simply technology innovation, but a never-ending focus on customer value. |
Basis of Presentation | Basis of Presentation The accompanying consolidated financial statements reflect the operating results and financial position of Smith Micro Software, Inc. and its wholly owned subsidiaries in accordance with accounting principles generally accepted in the United States of America. All intercompany amounts have been eliminated in consolidation. |
Foreign Currency Transactions | Foreign Currency Transactions The Company has international operations resulting from acquisitions in prior years. The countries in which the Company has a subsidiary or branch office in are Serbia, the United Kingdom and Canada. The functional currency for all of these foreign entities is the U.S. dollar in accordance with the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic No. 830-30, Foreign Currency Matters-Translation of Financial Statements. Foreign currency transactions that increase or decrease expected functional currency cash flows is a foreign currency transaction gain or loss that are included in determining net income for the period in which the exchange rate changes. Likewise, a transaction gain or loss (measured from the transaction date or the most recent intervening balance sheet date, whichever is later) realized upon settlement of a foreign currency transaction is included in determining net income for the period in which the transaction is settled. |
Use of Estimates | Use of Estimates The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the U.S. requires management to make estimates and assumptions that affect the reported amounts in the consolidated financial statements and accompanying notes. Actual results could differ from those estimates. |
Fair Value of Financial Instruments | Fair Value of Financial Instruments The Company measures and discloses fair value measurements as required by FASB ASC Topic No. 820, Fair Value Measurements and Disclosures. The carrying value of accounts receivable and accounts payable are considered to be representative of their respective fair values because of the short-term nature of those instruments. Fair value is an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. As such, fair value is a market-based measurement that is determined based on assumptions that market participants would use in pricing an asset or a liability. As a basis for considering such assumptions, the FASB establishes a three-tier value hierarchy, which prioritizes the inputs used in the valuation methodologies in measuring fair value: • Level 1 - Observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets. • Level 2 - Include other inputs that are directly or indirectly observable in the marketplace. • Level 3 - Unobservable inputs which are supported by little or no market activity. The fair value hierarchy also requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. As required by FASB ASC Topic No. 820, we measure our cash equivalents and short-term investments at fair value. Our cash equivalents and short-term investments are classified within Level 1 by using quoted market prices utilizing market observable inputs. |
Significant Concentrations | Significant Concentrations For the year ended December 31, 2015, two customers, each accounting for over 10% of revenues, made up 76.7% of revenues and 83% of accounts receivable, and one service provider with more than 10% of purchases totaled 24% of accounts payable. For the year ended December 31, 2014, two customers, each accounting for over 10% of revenues, made up 79.2% of revenues and 87% of accounts receivable, and one service provider with more than 10% of purchases totaled 27% of accounts payable. For the year ended December 31, 2013, three customers, each accounting for over 10% of revenues, made up 77.5% of revenues and 83% of accounts receivable, and one service provider with more than 10% of purchases totaled 28% of accounts payable. The Company currently outsources a key information technology service, an important component of one of its products, from one supplier. Although there are a limited number of third party providers for this type of service, management believes that other suppliers could provide similar services on comparable terms. A change in suppliers, however, could cause a disruption or delay in services which could result in a possible loss of revenues and customer confidence, all of which would adversely affect our operating results. |
Cash and Cash Equivalents | Cash and Cash Equivalents Cash and cash equivalents generally consist of cash, government securities, mutual funds, and money market funds. These securities are primarily held in two financial institutions and are uninsured except for the minimum Federal Deposit Insurance Corporation (“FDIC”) coverage, and have original maturity dates of three months or less. As of December 31, 2015 and 2014, bank balances totaling approximately $8.5 million and $9.9 million, respectively, were uninsured. |
Short-Term Investments | Short-Term Investments Short-term investments consist of corporate notes, bonds, and commercial paper and U.S. government agency and government sponsored enterprise obligations. The Company accounts for these short-term investments as required by FASB ASC Topic No. 320, Investments-Debt and Equity Securities. These debt and equity securities are not classified as either held-to-maturity securities or trading securities. As such, they are classified as available-for-sale securities. Available-for-sale securities are recorded at fair value, with unrealized gains or losses recorded as a separate component of accumulated other comprehensive income in stockholders’ equity until realized. |
Accounts Receivable and Allowance for Doubtful Accounts | Accounts Receivable and Allowance for Doubtful Accounts We sell our products worldwide. We perform ongoing credit evaluations of our customers and adjust credit limits based upon payment history, the customer’s current credit worthiness and various other factors, as determined by our review of their current credit information. We continuously monitor collections and payments from our customers. We estimate credit losses and maintain an allowance for doubtful accounts reserve based upon these estimates. While such credit losses have historically been within our estimated reserves, we cannot guarantee that we will continue to experience the same credit loss rates that we have in the past. If not, this could have an adverse effect on our consolidated financial statements. Allowances for product returns are included in other adjustments to accounts receivable on the accompanying consolidated balance sheets. Product returns are estimated based on historical experience and have also been within management’s estimates. |
Inventories | Inventories Inventories consist principally of compact disks (“CDs”), boxes and manuals and are stated at the lower of cost (determined by the first-in, first-out method) or market. The Company regularly reviews its inventory quantities on hand and records a provision for excess and obsolete inventory based primarily on management’s forecast of product demand and production requirements. At December 31, 2015 and 2014, our net inventory of $39,000 and $97,000, respectively, consisted mostly of components. |
Equipment and Improvements | Equipment and Improvements Equipment and improvements are stated at cost. Depreciation is computed using the straight-line method based on the estimated useful lives of the assets, generally ranging from three to seven years. Leasehold improvements are amortized using the straight-line method over the shorter of the estimated useful life of the asset or the lease term. |
Internal Software Development Costs | Internal Software Development Costs Development costs incurred in the research and development of new software products and enhancements to existing software products are expensed as incurred until technological feasibility has been established. The Company considers technological feasibility to be established when all planning, designing, coding, and testing has been completed according to design specifications. After technological feasibility is established, any additional costs are capitalized. Through December 31, 2015, software has been substantially completed concurrently with the establishment of technological feasibility; accordingly, no costs have been capitalized to date. |
Deferred Rent and Other Long-Term Liabilities | Deferred Rent and Other Long-Term Liabilities The long-term liabilities are for deferred rent to account for the difference between straight-line and bargain rents, lease incentives included in deferred rent, restructuring expenses, and sublease deposits. |
Revenue Recognition | Revenue Recognition We currently report our net revenues under two operating groups: Wireless and Graphics. Within each of these groups, software revenue is recognized based on the customer and contract type. We recognize revenue when persuasive evidence of an arrangement exists, delivery has occurred, the price is fixed and determinable, and collectability is probable as required by FASB ASC Topic No. 985-605, Software-Revenue Recognition. We recognize revenues from sales of our software to our customers or end users as completed products are shipped and title passes or from royalties generated as authorized customers duplicate our software, if the other requirements are met. If the requirements are not met at the date of shipment, revenue is not recognized until these elements are known or resolved. For Wireless sales, returns from customers are limited to defective goods or goods shipped in error. Historically, customer returns have not exceeded the very nominal estimates and reserves. We also provide some technical support to our customers. Such costs have historically been insignificant. We have a few multiple element agreements for which we have contracted to provide a perpetual license for use of proprietary software, to provide non-recurring engineering, and in some cases, to provide software maintenance (post contract support). For these software and software-related multiple element arrangements, we must: (1) determine whether and when each element has been delivered; (2) determine whether undelivered products or services are essential to the functionality of the delivered products and services; (3) determine the fair value of each undelivered element using vendor-specific objective evidence (“VSOE”); and (4) allocate the total price among the various elements. VSOE of fair value is used to allocate a portion of the price to the undelivered elements and the residual method is used to allocate the remaining portion to the delivered elements. Absent VSOE, revenue is deferred until the earlier of the point at which VSOE of fair value exists for any undelivered element or until all elements of the arrangement have been delivered. However, if the only undelivered element is post contract support, the entire arrangement fee is recognized ratably over the performance period. We determine VSOE for each element based on historical stand-alone sales to third parties or from the stated renewal rate for the elements contained in the initial arrangement. In determining VSOE, we require that a substantial majority of the selling prices for a product or service fall within a reasonably narrow pricing range. We have established VSOE for our post contract support services and non-recurring engineering. On occasion, we enter into fixed fee arrangements, i.e. for trials, in which customer payments are tied to the achievement of specific milestones. Revenue for these contracts is recognized based on customer acceptance of certain milestones as they are achieved. We also enter hosting arrangements that sometimes include up-front, non-refundable set-up fees. Revenue is recognized for these fees over the term of the agreement. For Graphics (formerly Productivity & Graphics) sales, management reviews available retail channel information and makes a determination of a return provision for sales made to distributors and retailers based on current channel inventory levels and historical return patterns. Certain sales to distributors or retailers are made on a consignment basis. Revenue for consignment sales are not recognized until sell through to the final customer is established. Certain revenues are booked net of revenue sharing payments. Sales directly to end users are recognized upon shipment. End users have a thirty day right of return, but such returns are reasonably estimable and have historically been immaterial. We also provide technical support to our customers. Such costs have historically been insignificant. |
Sales Incentives | Sales Incentives For our Graphics sales, the cost of sales incentives the Company offers without charge to customers that can be used in, or that are exercisable by a customer as a result of, a single exchange transaction is accounted for as a reduction of revenue as required by FASB ASC Topic No. 605-50, Revenue Recognition-Customer Payments and Incentives. We use historical redemption rates to estimate the cost of customer incentives. Total sales incentives were $0.2 million, $0.5 million and $1.2 million for the years ended December 31, 2015, 2014, and 2013, respectively. |
Advertising Expense | Advertising Expense Advertising costs are expensed as incurred. Advertising expenses were $0.3 million, $0.3 million, and $0.4 million for the years ended December 31, 2015, 2014, and 2013, respectively. |
Stock-Based Compensation | Stock-Based Compensation The Company accounts for all stock-based payment awards made to employees and directors based on their fair values and recognized as compensation expense over the vesting period using the straight-line method over the requisite service period for each award as required by FASB ASC Topic No. 718, Compensation-Stock Compensation. |
Net Income (Loss) Per Share | Net Income (Loss) Per Share The Company calculates earnings per share (“EPS”) as required by FASB ASC Topic No. 260, Earning Per Share. Basic EPS is calculated by dividing the net income available to common stockholders by the weighted average number of common shares outstanding for the period, excluding common stock equivalents. Diluted EPS is computed by dividing the net income available to common stockholders by the weighted average number of common shares outstanding for the period, plus the weighted average number of dilutive common stock equivalents outstanding for the period determined using the treasury-stock method. For purposes of this calculation, common stock subject to repurchase by the Company and options are considered to be common stock equivalents and are only included in the calculation of diluted earnings per share when their effect is dilutive. Year Ended December 31, 2015 2014 2013 (in thousands, except per share amounts) Numerator: Net loss available to common stockholders ($ 2,602 ) ($ 11,799 ) ($ 27,953 ) Denominator: Weighted average shares outstanding - basic 45,946 40,649 36,982 Potential common shares - options (treasury stock method) — — — Weighted average shares outstanding - diluted 45,946 40,649 36,982 Shares excluded (anti-dilutive) 70 150 2 Shares excluded due to an exercise price greater than weighted average stock price for the period 1,132 1,511 2,150 Net loss per common share: Basic ($ 0.06 ) ($ 0.29 ) ($ 0.76 ) Diluted ($ 0.06 ) ($ 0.29 ) ($ 0.76 ) |
Recent Accounting Pronouncements | Recent Accounting Pronouncements In November 2015, the Financial Accounting Standards Board (“FASB”) issued final guidance in Accounting Standards Update 2015-17, Balance Sheet Classification of Deferred Taxes, The Company is early adopting this standard for the interim and annual period ending December 31, 2015 on a prospective basis. As such, prior periods were not retrospectively adjusted. Due to the Company’s full valuation allowance on its deferred tax assets, the nature of the change on the balance sheet is not significant. In August 2014, the FASB issued Accounting Standards Update (“ASU”) No. 2014-15, Presentation of Financial Statements-Going Concern (Subtopic 205-40 In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606). |
Income Taxes | We account for income taxes as required by FASB ASC Topic No. 740, Income Taxes. This Topic clarifies the accounting for uncertainty in income taxes recognized in an enterprise’s financial statements and prescribes a recognition threshold and measurement process for financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. The Topic also provides guidance on derecognition, classification, interest and penalties, accounting in interim periods, disclosure, and transition. The Topic requires an entity to recognize the financial statement impact of a tax position when it is more likely than not that the position will be sustained upon examination. The amount recognized is measured as the largest amount of benefit that is greater than fifty percent likely of being realized upon ultimate settlement. In addition, the Topic permits an entity to recognize interest and penalties related to tax uncertainties either as income tax expense or operating expenses. The Company has chosen to recognize interest and penalties related to tax uncertainties as income tax expense. |
Segment Information | Segment Information Public companies are required to report financial and descriptive information about their reportable operating segments as required by FASB ASC Topic No. 280, Segment Reporting. The Company has two primary business units based on how management internally evaluates separate financial information, business activities, and management responsibility. Wireless includes our NetWise, CommSuite, and QuickLink family of products. Graphics (formerly Productivity & Graphics) includes our consumer-based products: Poser, Anime Studio, Manga Studio, MotionArtist and StuffIt. The following table shows the revenues generated by each business unit (in thousands): Year Ended December 31, 2015 2014 2013 Wireless $ 33,553 $ 31,276 $ 35,853 Graphics 5,954 5,703 6,822 Total revenues 39,507 36,979 42,675 Cost of revenues 8,152 9,317 9,707 Gross profit $ 31,355 $ 27,662 $ 32,968 |
Organization, Basis of Presen21
Organization, Basis of Presentation and Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Net Income (Loss) Per Share | For purposes of this calculation, common stock subject to repurchase by the Company and options are considered to be common stock equivalents and are only included in the calculation of diluted earnings per share when their effect is dilutive. Year Ended December 31, 2015 2014 2013 (in thousands, except per share amounts) Numerator: Net loss available to common stockholders ($ 2,602 ) ($ 11,799 ) ($ 27,953 ) Denominator: Weighted average shares outstanding - basic 45,946 40,649 36,982 Potential common shares - options (treasury stock method) — — — Weighted average shares outstanding - diluted 45,946 40,649 36,982 Shares excluded (anti-dilutive) 70 150 2 Shares excluded due to an exercise price greater than weighted average stock price for the period 1,132 1,511 2,150 Net loss per common share: Basic ($ 0.06 ) ($ 0.29 ) ($ 0.76 ) Diluted ($ 0.06 ) ($ 0.29 ) ($ 0.76 ) |
Restructuring (Tables)
Restructuring (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
2013 Restructuring [Member] | |
Activity in Restructuring Liability Account | Following is the activity in our restructuring liability for the year ended December 31, 2015 (in thousands): December 31, 2014 December 31, 2015 Balance Provision-net Usage Balance Lease/rental terminations $ 2,800 $ (13 ) $ (664 ) $ 2,123 Datacenter consolidation, other 89 13 (16 ) 86 Total $ 2,889 $ — $ (680 ) $ 2,209 |
Balance Sheet Details (Tables)
Balance Sheet Details (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Available-for-Sale Securities Recorded at Fair Value with Unrealized Gains or Losses | Available-for-sale securities with contractual maturities of less than 12 months were as follows (in thousands): December 31, 2015 December 31, 2014 Amortized Gross Fair value Amortized Gross Fair value Corporate bonds and notes $ — $ — $ — $ 1,000 $ (1 ) $ 999 Government securities/money market 4,080 (2 ) 4,078 1,881 — 1,881 Total $ 4,080 $ (2 ) $ 4,078 $ 2,881 $ (1 ) $ 2,880 |
Summary of Equipment and Improvements | Equipment and improvements consist of the following (in thousands): December 31, 2015 2014 Computer hardware, software, and equipment $ 16,288 $ 16,143 Leasehold improvements 5,170 5,170 Office furniture and fixtures 1,214 1,213 22,672 22,526 Less accumulated depreciation and amortization (20,180 ) (18,253 ) Equipment and improvements, net $ 2,492 $ 4,273 |
Summary of Accrued Liabilities | Accrued liabilities consist of the following (in thousands): December 31, 2015 2014 Salaries and benefits $ 2,723 $ 2,779 Restructuring 442 912 Pennsylvania grant liability 1,000 1,000 Royalties and revenue sharing 643 835 Income taxes 205 160 Marketing expenses, rebates, and other 51 66 Total accrued liabilities $ 5,064 $ 5,752 |
Deferred Rent and Other Long Term Liabilities | Deferred rent and other long-term liabilities consist of the following (in thousands): December 31, 2015 2014 Deferred rent $ 1,402 $ 1,643 Restructuring - beyond one year 1,767 1,977 Sublease deposits 66 23 Total deferred rent and other long-term liabilities $ 3,235 $ 3,643 |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Income Tax Disclosure [Abstract] | |
Schedule of Income (Loss) before Provision for Income Taxes | Income (loss) before provision for income taxes was generated from the following sources (in thousands): Year Ended December 31, 2015 2014 2013 Domestic $ (2,651 ) $ (11,867 ) $ (27,968 ) Foreign 117 117 168 Total loss before provision for income taxes $ (2,534 ) $ (11,750 ) $ (27,800 ) |
Summary of Income Tax Expense | A summary of the income tax expense is as follows (in thousands): Year Ended December 31, 2015 2014 2013 Current: Federal $ — $ — $ — State 5 5 (19 ) Foreign 63 44 172 Total current 68 49 153 Deferred: Federal — — — State — — — Foreign — — — Total deferred — — — Total provision $ 68 $ 49 $ 153 |
Federal Statutory Rate to Profit before Income Taxes | A reconciliation of the provision for income taxes to the amount of income tax expense that would result from applying the federal statutory rate to the profit before income taxes is as follows: Year Ended December 31, 2015 2014 2013 Federal statutory rate 35.0 % 35.0 % 35.0 % State tax, net of federal benefit (20.4 ) 1.2 4.0 Equity compensation (13.7 ) (6.6 ) (3.0 ) International tax items (4.6 ) 0.1 0.1 Foreign taxes (2.5 ) (0.4 ) (0.6 ) Other (10.6 ) (2.5 ) 2.5 Miscellaneous (1.1 ) 0.0 0.0 Change in valuation allowance 15.2 (27.5 ) (39.0 ) (2.7 )% (0.7 )% (1.0 )% |
Components of Deferred Tax Assets and Liabilities | The major components of the Company’s deferred tax assets and liabilities are as follows (in thousands): Year Ended December 31, 2015 2014 Deferred income tax assets Net operating loss carry forwards $ 48,003 $ 44,754 Credit carry forwards 3,708 3,708 Fixed Assets 1,181 1,466 Intangibles 19,588 23,029 Equity based compensation 311 279 Nondeductible accruals 1,977 2,382 Various reserves 142 149 Other 56 51 Valuation Allowance (74,907 ) (75,744 ) Total deferred income taxes - net 59 74 Deferred income tax liabilities Prepaid expenses (59 ) (74 ) Total deferred income liabilities (59 ) (74 ) Net deferred income tax assets (liabilities) $ — $ — |
Gross Unrecognized Tax Benefits Changes in Balances | The Company’s gross unrecognized tax benefits as of December 31, 2015 and 2014 and the changes in those balances are as follows (in thousands): Year Ended December 31, 2015 2014 Beginning balance $ 592 $ 592 Increases/(decreases) in tax positions for the current year — — Increases/(decreases) in tax positions for the prior year — — Gross unrecognized tax benefits, ending balance $ 592 $ 592 |
Commitments and Contingencies (
Commitments and Contingencies (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Commitments and Contingencies Disclosure [Abstract] | |
Company Lease of Buildings under Non-Cancellable Operating Leases | Future minimum annual lease payments under such leases as of December 31, 2015 are as follows (in thousands): Year Ending December 31, Operating 2016 $ 1,863 2017 1,536 2018 1,534 2019 1,507 2020 1,519 Beyond 1,562 Total $ 9,521 |
Segment, Customer Concentrati26
Segment, Customer Concentration and Geographical Information (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Segment Reporting [Abstract] | |
Revenues Generated by Each Business Unit | The following table shows the revenues generated by each business unit (in thousands): Year Ended December 31, 2015 2014 2013 Wireless $ 33,553 $ 31,276 $ 35,853 Graphics 5,954 5,703 6,822 Total revenues 39,507 36,979 42,675 Cost of revenues 8,152 9,317 9,707 Gross profit $ 31,355 $ 27,662 $ 32,968 |
Company's Customers that Represent 10% or More of Company's Revenues | A summary of the Company’s customers that represent 10% or more of the Company’s revenues is as follows: Year Ended December 31, 2015 2014 2013 Wireless: Sprint (& affiliates) 65.4 % 68.0 % 53.1 % Verizon Wireless (& affiliates) 4.2 % 7.8 % 13.0 % Graphics: FastSpring 11.3 % 11.2 % 11.4 % |
Company Revenue in Different Geographic Locations | Revenues attributed to the geographic location of the customer’s bill-to address, were as follows (in thousands): Year ended December 31, 2015 2014 2013 Americas $ 39,008 $ 35,689 $ 38,532 Asia Pacific 260 326 928 EMEA 239 964 3,215 Total revenues $ 39,507 $ 36,979 $ 42,675 |
Stock-Based Compensation (Table
Stock-Based Compensation (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Assumptions Used to Compute Share-Based Compensation Costs for Stock Options Granted | The assumptions used to compute the share-based compensation costs for the stock options granted during the years ended December 31, 2015, 2014, and 2013, respectively, using the Black-Scholes option pricing model, were as follows: Year Ended December 31, 2015 2014 2013 Weighted average grant-date fair value of stock options $ 0.77 $ 0.57 $ 0.63 Assumptions Risk-free interest rate (weighted average) 1.1 % 1.2 % 0.6 % Expected dividend yield — — — Weighted average expected life (years) 4 4 4 Volatility (weighted average) 83.5 % 82.9 % 68.1 % Forfeiture rate 23.3 % 25.5 % 11.4 % |
Assumptions Used Estimate Fair Value of Employee Stock Purchase Plans | Following is a schedule of the shares purchased, the fair value per share, and the Black-Scholes model assumptions for each offering period: (Ending) Offering Period Ended September 30, March 31, September 30, March 31, September 30, 2015 2015 2014 2014 2013 Shares purchased for offering period 12,451 11,216 13,619 13,734 19,490 Fair value per share $ 0.60 $ 0.43 $ 0.83 $ 0.30 $ 0.44 Assumptions Risk-free interest rate (average) 0.11 % 0.40 % 0.80 % 0.40 % 0.11 % Expected dividend yield — — — — — Weighted average expected life (years) 0.5 0.5 0.5 0.5 0.5 Volatility (average) 103.8 % 109.1 % 74.0 % 44.0 % 45.0 % |
Non-Cash Stock-Based Compensation Expenses | Non-cash stock-based compensation expenses related to stock options, restricted stock grants and the ESPP were recorded in the financial statements as follows (in thousands): Year Ended December 31, 2015 2014 2013 Cost of revenues $ 12 $ 13 $ 20 Selling and marketing 335 270 766 Research and development 644 659 809 General and administrative 1,167 1,437 1,938 Restructuring expense — 1,273 — Total non-cash stock compensation expense $ 2,158 $ 3,652 $ 3,533 |
Summary of Outstanding Stock Options and Related Activity | A summary of the Company’s stock options outstanding under the 2015 Plan as of December 31, 2015 and the activity during the years ended herein are as follows (in thousands except per share amounts): Shares Weighted Ave. Aggregate Outstanding as of December 31, 2012 2,275 $ 7.02 $ — (1,474 options exercisable at a weighted average exercise price of $10.09) Granted (weighted average fair value of $0.63) 120 $ 1.31 Exercised — $ — Cancelled (225 ) $ 6.52 Outstanding as of December 31, 2013 2,170 $ 6.76 $ — (1,573 options exercisable at a weighted average exercise price of $8.81) Granted (weighted average fair value of $0.57) 633 $ 0.95 Exercised (4 ) $ 1.38 Cancelled (665 ) $ 5.98 Outstanding as of December 31, 2014 2,134 $ 5.29 $ — (1,291 options exercisable at a weighted average exercise price of $8.04) Granted (weighted average fair value of $0.77) 75 $ 1.27 Exercised (8 ) $ 1.19 Cancelled (556 ) $ 4.05 Outstanding as of December 31, 2015 1,645 $ 5.39 $ — Exercisable as of December 31, 2015 1,132 $ 7.34 $ — Vested and expected to vest at December 31, 2015 1,593 $ 5.53 $ — |
Summary of Outstanding Restricted Stock Awards and Related Activity | A summary of the Company’s restricted stock awards outstanding under the 2005 Plan as of December 31, 2015, and the activity during years ended therein, are as follows (in thousands): Number Weighted average Unvested at December 31, 2012 1,319 $ 4.60 Granted 1,495 $ 1.70 Vested (752 ) $ 4.43 Cancelled and forfeited (316 ) $ 3.00 Unvested at December 31, 2013 1,746 $ 2.48 Granted 1,625 $ 1.79 Vested (1,442 ) $ 2.48 Cancelled and forfeited (204 ) $ 1.79 Unvested at December 31, 2014 1,725 $ 1.91 Granted 1,375 $ 1.50 Vested (1,011 ) $ 1.95 Cancelled and forfeited (284 ) $ 1.67 Unvested at December 31, 2015 1,805 $ 1.61 |
Quarterly Financial Data (Table
Quarterly Financial Data (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Quarterly Financial Information Disclosure [Abstract] | |
Summarized Quarterly Information | Summarized quarterly data for fiscal 2015 and 2014 are as follows (in thousands, except per share data): Year ended December 31, 2015 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Selected quarterly financial data: Revenues $ 10,529 $ 9,386 $ 9,586 $ 10,006 Gross profit $ 8,411 $ 7,315 $ 7,627 $ 8,002 Operating income (loss) $ 2 $ (1,225 ) $ (768 ) $ (547 ) Net income (loss) $ (10 ) $ (1,231 ) $ (770 ) $ (591 ) Net (loss) per share, basic (1) $ (0.00 ) $ (0.03 ) $ (0.02 ) $ (0.01 ) Weighted average shares outstanding, basic 45,501 46,257 46,160 45,860 Net (loss) per share, diluted (1) $ (0.00 ) $ (0.03 ) $ (0.02 ) $ (0.01 ) Weighted average shares outstanding, diluted 45,501 46,257 46,160 45,860 Year ended December 31, 2014 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Selected quarterly financial data: Revenues $ 8,449 $ 8,528 $ 9,448 $ 10,554 Gross profit $ 6,029 $ 6,077 $ 7,247 $ 8,309 Operating (loss) $ (5,134 ) $ (5,681 ) $ (1,144 ) $ 217 Net (loss) $ (5,167 ) $ (5,695 ) $ (1,142 ) $ 205 Net (loss) per share, basic (1) $ (0.14 ) $ (0.15 ) $ (0.03 ) $ 0.00 Weighted average shares outstanding, basic 37,714 38,518 41,225 45,053 Net (loss) per share, diluted (1) $ (0.14 ) $ (0.15 ) $ (0.03 ) $ 0.00 Weighted average shares outstanding, diluted 37,714 38,518 41,225 45,053 (1) Basic and diluted net (loss) per share is computed independently for each of the quarters presented. Therefore, the sum of the quarterly per share amounts will not necessarily equal the total for the year. |
Organization, Basis of Presen29
Organization, Basis of Presentation and Summary of Significant Accounting Policies - Additional Information (Detail) | 12 Months Ended | ||
Dec. 31, 2015USD ($)CustomerServiceProviderBusiness_UnitInstitution | Dec. 31, 2014USD ($)CustomerServiceProvider | Dec. 31, 2013USD ($)CustomerServiceProvider | |
Organization Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items] | |||
Experience in operation period | 30 years | ||
Number of customers concentrated | Customer | 2 | 2 | 3 |
Number of service providers concentrated | ServiceProvider | 1 | 1 | 1 |
Financial institutions to held securities | Institution | 2 | ||
Cash and cash equivalents original maturity dates | Three months or less | ||
Bank balances | $ 8,500,000 | $ 9,900,000 | |
Inventory components | 39,000 | 97,000 | |
Costs capitalized | $ 0 | ||
Number of operating groups | Business_Unit | 2 | ||
Advertising expenses | $ 300,000 | $ 300,000 | $ 400,000 |
Customer Concentration Risk [Member] | Revenues [Member] | |||
Organization Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items] | |||
Concentration percentage | 76.70% | 79.20% | 77.50% |
Customer Concentration Risk [Member] | Accounts receivable [Member] | |||
Organization Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items] | |||
Concentration percentage | 83.00% | 87.00% | 83.00% |
Supplier concentration risk [Member] | Accounts payable [Member] | |||
Organization Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items] | |||
Concentration percentage | 24.00% | 27.00% | 28.00% |
Graphics [Member] | |||
Organization Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items] | |||
Total sales incentives | $ 200,000 | $ 500,000 | $ 1,200,000 |
Minimum [Member] | |||
Organization Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items] | |||
Estimated useful lives of the assets | 3 years | ||
Minimum [Member] | Customer Concentration Risk [Member] | Revenues [Member] | |||
Organization Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items] | |||
Concentration percentage | 10.00% | 10.00% | 10.00% |
Minimum [Member] | Supplier concentration risk [Member] | Purchase [Member] | |||
Organization Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items] | |||
Concentration percentage | 10.00% | 10.00% | 10.00% |
Maximum [Member] | |||
Organization Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items] | |||
Estimated useful lives of the assets | 7 years |
Organization, Basis of Presen30
Organization, Basis of Presentation and Summary of Significant Accounting Policies - Net Income (Loss) Per Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Numerator: | |||||||||||
Net loss available to common stockholders | $ (591) | $ (770) | $ (1,231) | $ (10) | $ 205 | $ (1,142) | $ (5,695) | $ (5,167) | $ (2,602) | $ (11,799) | $ (27,953) |
Denominator: | |||||||||||
Weighted average shares outstanding - basic | 45,860 | 46,160 | 46,257 | 45,501 | 45,053 | 41,225 | 38,518 | 37,714 | 45,946 | 40,649 | 36,982 |
Potential common shares - options (treasury stock method) | 0 | 0 | 0 | ||||||||
Weighted average shares outstanding - diluted | 45,860 | 46,160 | 46,257 | 45,501 | 45,053 | 41,225 | 38,518 | 37,714 | 45,946 | 40,649 | 36,982 |
Shares excluded (anti-dilutive) | 70 | 150 | 2 | ||||||||
Shares excluded due to an exercise price greater than weighted average stock price for the period | 1,132 | 1,511 | 2,150 | ||||||||
Net loss per common share: | |||||||||||
Basic | $ (0.01) | $ (0.02) | $ (0.03) | $ 0 | $ 0 | $ (0.03) | $ (0.15) | $ (0.14) | $ (0.06) | $ (0.29) | $ (0.76) |
Diluted | $ (0.01) | $ (0.02) | $ (0.03) | $ 0 | $ 0 | $ (0.03) | $ (0.15) | $ (0.14) | $ (0.06) | $ (0.29) | $ (0.76) |
Restructuring - Additional Info
Restructuring - Additional Information (Detail) $ / qtr in Millions, $ in Millions | May. 06, 2014$ / qtr | Jun. 30, 2014USD ($) | Sep. 30, 2013USD ($) | Dec. 31, 2014USD ($) | Dec. 31, 2013USD ($) |
2014 Restructuring [Member] | |||||
Restructuring Cost and Reserve [Line Items] | |||||
Reductions in company's worldwide workforce | 20.00% | ||||
Reduction of overall cost structure | $ / qtr | 2 | ||||
Special charges for restructuring plan | $ 1.8 | ||||
Severance costs for affected employees | 0.4 | ||||
Other restructuring related costs | 0.1 | ||||
Non-cash stock based compensation expense | $ 1.3 | ||||
2013 Restructuring [Member] | |||||
Restructuring Cost and Reserve [Line Items] | |||||
Reductions in company's worldwide workforce | 26.00% | ||||
Special charges for restructuring plan | $ 5.6 | ||||
Severance costs for affected employees | 1.1 | ||||
Other restructuring related costs | 0.2 | ||||
Annualized savings | $ 16 | ||||
Lease/rental termination charges for restructuring | $ 0.8 | 3.3 | |||
Equipment and improvements write-offs due to lease/rental terminations | $ 0.6 | $ 1 |
Restructuring - Activity in Res
Restructuring - Activity in Restructuring Liability Accounts (Detail) - 2013 Restructuring [Member] $ in Thousands | 12 Months Ended |
Dec. 31, 2015USD ($) | |
Restructuring Cost and Reserve [Line Items] | |
Beginning Balance | $ 2,889 |
Usage | (680) |
Ending Balance | 2,209 |
Lease/Rental Terminations [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Beginning Balance | 2,800 |
Provision, net | (13) |
Usage | (664) |
Ending Balance | 2,123 |
Datacenter Consolidation, Other [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Beginning Balance | 89 |
Provision, net | 13 |
Usage | (16) |
Ending Balance | $ 86 |
Balance Sheet Details - Availab
Balance Sheet Details - Available-for-Sale Securities Recorded at Fair Value with Unrealized Gains or Losses (Detail) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized cost basis | $ 4,080 | $ 2,881 |
Gross unrealized loss | (2) | (1) |
Fair value | 4,078 | 2,880 |
Corporate bonds and notes [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized cost basis | 1,000 | |
Gross unrealized loss | (1) | |
Fair value | 999 | |
Government securities/money market [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized cost basis | 4,080 | 1,881 |
Gross unrealized loss | (2) | |
Fair value | $ 4,078 | $ 1,881 |
Balance Sheet Details - Additio
Balance Sheet Details - Additional Information (Detail) - USD ($) | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |||
Realized gains (losses) recognized in interest and other income | $ 0 | $ 0 | $ 0 |
Depreciation and amortization expense on equipment and improvements | $ 1,900,000 | $ 2,900,000 | $ 4,000,000 |
Balance Sheet Details - Summary
Balance Sheet Details - Summary of Equipment and Improvements (Detail) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Property, Plant and Equipment [Line Items] | ||
Gross, Total | $ 22,672 | $ 22,526 |
Less accumulated depreciation and amortization | (20,180) | (18,253) |
Equipment and improvements, net | 2,492 | 4,273 |
Computer hardware, software, and equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Gross, Total | 16,288 | 16,143 |
Leasehold improvements [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Gross, Total | 5,170 | 5,170 |
Office furniture and fixtures [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Gross, Total | $ 1,214 | $ 1,213 |
Balance Sheet Details - Summa36
Balance Sheet Details - Summary of Accrued Liabilities (Detail) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Payables and Accruals [Abstract] | ||
Salaries and benefits | $ 2,723 | $ 2,779 |
Restructuring | 442 | 912 |
Pennsylvania grant liability | 1,000 | 1,000 |
Royalties and revenue sharing | 643 | 835 |
Income taxes | 205 | 160 |
Marketing expenses, rebates and other | 51 | 66 |
Total accrued liabilities | $ 5,064 | $ 5,752 |
Balance Sheet Details - Deferre
Balance Sheet Details - Deferred Rent and Other Long Term Liabilities (Detail) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Other Liabilities Disclosure [Abstract] | ||
Deferred rent | $ 1,402 | $ 1,643 |
Restructuring - beyond one year | 1,767 | 1,977 |
Sublease deposits | 66 | 23 |
Total deferred rent and other long-term liabilities | $ 3,235 | $ 3,643 |
Income Taxes - Schedule of Inco
Income Taxes - Schedule of Income (Loss) before Provision for Income Taxes (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Income Tax Disclosure [Abstract] | |||
Domestic | $ (2,651) | $ (11,867) | $ (27,968) |
Foreign | 117 | 117 | 168 |
Loss before provision for income taxes | $ (2,534) | $ (11,750) | $ (27,800) |
Income Taxes - Summary of Incom
Income Taxes - Summary of Income Tax Expense (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Current: | |||
Federal | $ 0 | $ 0 | $ 0 |
State | 5 | 5 | (19) |
Foreign | 63 | 44 | 172 |
Total current | 68 | 49 | 153 |
Deferred: | |||
Federal | 0 | 0 | 0 |
State | 0 | 0 | 0 |
Foreign | 0 | 0 | 0 |
Total deferred | 0 | 0 | 0 |
Total provision | $ 68 | $ 49 | $ 153 |
Income Taxes - Federal Statutor
Income Taxes - Federal Statutory Rate to Profit before Income Taxes (Detail) | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Income Tax Disclosure [Abstract] | |||
Federal statutory rate | 35.00% | 35.00% | 35.00% |
State tax, net of federal benefit | (20.40%) | 1.20% | 4.00% |
Equity compensation | (13.70%) | (6.60%) | (3.00%) |
International tax items | (4.60%) | 0.10% | 0.10% |
Foreign taxes | (2.50%) | (0.40%) | (0.60%) |
Other | (10.60%) | (2.50%) | 2.50% |
Miscellaneous | (1.10%) | 0.00% | 0.00% |
Change in valuation allowance | 15.20% | (27.50%) | (39.00%) |
Total | (2.70%) | (0.70%) | (1.00%) |
Income Taxes - Components of De
Income Taxes - Components of Deferred Tax Assets and Liabilities (Detail) - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Deferred income tax assets | ||
Net operating loss carry forwards | $ 48,003 | $ 44,754 |
Credit carry forwards | 3,708 | 3,708 |
Fixed Assets | 1,181 | 1,466 |
Intangibles | 19,588 | 23,029 |
Equity based compensation | 311 | 279 |
Nondeductible accruals | 1,977 | 2,382 |
Various reserves | 142 | 149 |
Other | 56 | 51 |
Valuation Allowance | (74,907) | (75,744) |
Total deferred income taxes - net | 59 | 74 |
Deferred income tax liabilities | ||
Prepaid expenses | (59) | (74) |
Total deferred income liabilities | (59) | (74) |
Net deferred income tax assets (liabilities) | $ 0 | $ 0 |
Income Taxes - Additional Infor
Income Taxes - Additional Information (Detail) - USD ($) | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Operating Loss Carryforwards [Line Items] | |||
Excess tax benefits from employee restricted stock included in net operating loss carryforwards | $ 500,000 | ||
AMT credit carryforwards | $ 500,000 | ||
Tax credit carryforwards, Expire year | 2,027 | ||
Unrecognized tax benefits | $ 592,000 | $ 592,000 | $ 592,000 |
Valuation allowance | 74,907,000 | 75,744,000 | |
Increase in valuation allowance of deferred tax assets | 800,000 | 3,200,000 | $ 12,100,000 |
Interest and penalties | 3,000 | 3,000 | |
Cumulative interest and penalties | 47,000 | $ 44,000 | |
Unrecognized tax benefits that would impact the effective tax rate | 200,000 | ||
Anticipated decrease in gross unrecognized tax benefits within next twelve months | $ 200,000 | ||
Tax year under income tax examination | 2,011 | ||
Federal [Member] | |||
Operating Loss Carryforwards [Line Items] | |||
Net operating loss carryforwards | $ 111,200,000 | ||
Net operating loss carryforwards, expiry terms | Federal NOL carryforwards will expire from 2024 through 2035 | ||
Tax credit carryforwards | $ 2,500,000 | ||
Federal income tax returns subject to examination description | Federal income tax returns of the Company are subject to IRS examination for the 2012, 2013, and 2014 tax years | ||
State [Member] | |||
Operating Loss Carryforwards [Line Items] | |||
Net operating loss carryforwards | $ 107,900,000 | ||
Net operating loss carryforwards, expiry terms | State NOL carryforwards will expire 2015 through 2035 | ||
Tax credit carryforwards | $ 700,000 | ||
Federal income tax returns subject to examination description | State income tax returns are subject to examination for a period of three to four years after filing |
Income Taxes - Gross Unrecogniz
Income Taxes - Gross Unrecognized Tax Benefits Changes in Balances (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Income Tax Disclosure [Abstract] | ||
Beginning balance | $ 592 | $ 592 |
Increases/(decreases) in tax positions for the current year | 0 | 0 |
Increases/(decreases) in tax positions for the prior year | 0 | 0 |
Gross unrecognized tax benefits, ending balance | $ 592 | $ 592 |
Commitments and Contingencies -
Commitments and Contingencies - Additional Information (Detail) $ in Millions | 12 Months Ended | |||
Dec. 31, 2015USD ($)$ / ft² | Dec. 31, 2014USD ($) | Dec. 31, 2013USD ($)People | Sep. 26, 2011USD ($) | |
Leases [Abstract] | ||||
Expiration of non-cancellable operating leases | Through 2,022 | |||
Accrued lease commitments expense | $ 4.8 | |||
Estimated sublease income | 2.5 | |||
Rent expense under operating leases | $ 1.3 | $ 1.2 | $ 2.4 | |
Incentives per square feet | $ / ft² | 40 | |||
Incentives for improvements to space | $ 2.2 | |||
Amount received to start-up new facility | $ 1 | |||
Minimum number of people to be employed | People | 232 | |||
Time period to meet employment commitment | 3 years | |||
New deadline to meet employment commitment | Apr. 30, 2016 |
Commitments and Contingencies45
Commitments and Contingencies - Company Lease of Buildings under Non-Cancellable Operating Leases (Detail) $ in Thousands | Dec. 31, 2015USD ($) |
Leases [Abstract] | |
2,016 | $ 1,863 |
2,017 | 1,536 |
2,018 | 1,534 |
2,019 | 1,507 |
2,020 | 1,519 |
Beyond | 1,562 |
Total | $ 9,521 |
Segment, Customer Concentrati46
Segment, Customer Concentration and Geographical Information - Additional Information (Detail) | 12 Months Ended | ||
Dec. 31, 2015LocationBusiness_Unit | Dec. 31, 2014Location | Dec. 31, 2013Location | |
Revenue, Major Customer [Line Items] | |||
Number of primary business units | Business_Unit | 2 | ||
Number of geographic locations | Location | 3 | 3 | 3 |
Customer Concentration Risk [Member] | Accounts receivable [Member] | |||
Revenue, Major Customer [Line Items] | |||
Concentration percentage | 83.00% | 87.00% | 83.00% |
Customer Concentration Risk [Member] | Accounts receivable [Member] | Sprint and Fast Spring [Member] | |||
Revenue, Major Customer [Line Items] | |||
Concentration percentage | 83.00% | 87.00% | 83.00% |
Segment, Customer Concentrati47
Segment, Customer Concentration and Geographical Information - Revenues Generated by Each Business Unit (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Revenue from External Customer [Line Items] | |||||||||||
Total revenues | $ 10,006 | $ 9,586 | $ 9,386 | $ 10,529 | $ 10,554 | $ 9,448 | $ 8,528 | $ 8,449 | $ 39,507 | $ 36,979 | $ 42,675 |
Cost of revenues | 8,152 | 9,317 | 9,707 | ||||||||
Gross profit | $ 8,002 | $ 7,627 | $ 7,315 | $ 8,411 | $ 8,309 | $ 7,247 | $ 6,077 | $ 6,029 | 31,355 | 27,662 | 32,968 |
Wireless [Member] | |||||||||||
Revenue from External Customer [Line Items] | |||||||||||
Total revenues | 33,553 | 31,276 | 35,853 | ||||||||
Graphics [Member] | |||||||||||
Revenue from External Customer [Line Items] | |||||||||||
Total revenues | $ 5,954 | $ 5,703 | $ 6,822 |
Segment, Customer Concentrati48
Segment, Customer Concentration and Geographical Information - Company's Customers that Represent 10% or More of Company's Revenues (Detail) - Revenues [Member] - Customer Concentration Risk [Member] | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Revenue from External Customer [Line Items] | |||
Customer concentrating on 10% or more of net revenue | 76.70% | 79.20% | 77.50% |
Wireless [Member] | Sprint and affiliates [Member] | |||
Revenue from External Customer [Line Items] | |||
Customer concentrating on 10% or more of net revenue | 65.40% | 68.00% | 53.10% |
Wireless [Member] | Verizon Wireless and affiliates [Member] | |||
Revenue from External Customer [Line Items] | |||
Customer concentrating on 10% or more of net revenue | 4.20% | 7.80% | 13.00% |
Graphics [Member] | FastSpring [Member] | |||
Revenue from External Customer [Line Items] | |||
Customer concentrating on 10% or more of net revenue | 11.30% | 11.20% | 11.40% |
Segment, Customer Concentrati49
Segment, Customer Concentration and Geographical Information - Company Revenue in Different Geographic Locations (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Revenue from External Customer [Line Items] | |||||||||||
Total revenues | $ 10,006 | $ 9,586 | $ 9,386 | $ 10,529 | $ 10,554 | $ 9,448 | $ 8,528 | $ 8,449 | $ 39,507 | $ 36,979 | $ 42,675 |
Americas [Member] | |||||||||||
Revenue from External Customer [Line Items] | |||||||||||
Total revenues | 39,008 | 35,689 | 38,532 | ||||||||
Asia Pacific [Member] | |||||||||||
Revenue from External Customer [Line Items] | |||||||||||
Total revenues | 260 | 326 | 928 | ||||||||
EMEA [Member] | |||||||||||
Revenue from External Customer [Line Items] | |||||||||||
Total revenues | $ 239 | $ 964 | $ 3,215 |
Profit Sharing - Additional Inf
Profit Sharing - Additional Information (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Compensation and Retirement Disclosure [Abstract] | |||
Employers matching contribution percentage to 401(k) plan | 20.00% | ||
Total employer contributions to 401(k) plan | $ 0.2 | $ 0.2 | $ 0.3 |
Stock-Based Compensation - Addi
Stock-Based Compensation - Additional Information (Detail) - USD ($) | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Exercise of common stock options, shares | 8,000 | 4,000 | |
Cash proceeds from exercise of common stock options | $ 10,000 | $ 6,000 | |
Weighted average grant-date fair value of stock options granted | $ 0.77 | $ 0.57 | $ 0.63 |
Employee Stock Purchase Plan [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Maximum number of shares available for issuance under plan | 1,000,000 | ||
Percentage of market value | 85.00% | ||
Percentage of employee's payroll deductions limited to employee's compensation | 10.00% | ||
Maximum Stock value of shares purchased by employees if one thousand shares purchased | $ 25,000 | ||
Maximum number of shares that employee can purchase each period | 1,000 | ||
Restricted stock [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Cash payment of income taxes related to grants included in share-based compensation | $ 100,000 | $ 200,000 | $ 400,000 |
Restricted stock [Member] | Board of Directors non-employee [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Restricted stock vesting period | 12 months | ||
Restricted stock shares granted | 75,000 | ||
Value of restricted stock granted | $ 100,000 | ||
Restricted stock [Member] | Key officers and employees [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Restricted stock vesting period | 48 months | ||
Restricted stock shares granted | 1,300,000 | ||
Value of restricted stock granted | $ 2,000,000 | ||
Stock options [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Exercise of common stock options, shares | 8,000 | ||
Cash proceeds from exercise of common stock options | $ 10,000 | ||
Unrecognized compensation costs related to non-vested awards granted | $ 3,100,000 | ||
2015 Omnibus Equity Incentive Plan [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
1995 Stock option expiry date | Jul. 28, 2015 | ||
Maximum number of shares available for issuance under plan | 8,500,000 | ||
Number of shares available for future grants | 8,500,000 | ||
2015 Omnibus Equity Incentive Plan [Member] | Restricted stock [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Restricted stock shares granted | 0 | ||
2015 Omnibus Equity Incentive Plan [Member] | Full Value Awards [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Award settled against shares | 1.2 | ||
2015 Omnibus Equity Incentive Plan [Member] | Not Full Value Awards [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Award settled against shares | 1 | ||
2015 Plan [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Restricted stock vesting period | 4 years | ||
Stock option expiration period | 10 years | ||
2015 Plan [Member] | Minimum [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Restricted stock vesting period | 12 months | ||
2015 Plan [Member] | Maximum [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Restricted stock vesting period | 48 months | ||
2005 Plan [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Number of shares available for future grants | 0 |
Stock-Based Compensation - Assu
Stock-Based Compensation - Assumptions Used to Compute Share-Based Compensation Costs for Stock Options Granted (Detail) - $ / shares | 6 Months Ended | 12 Months Ended | ||||||
Sep. 30, 2015 | Mar. 31, 2015 | Sep. 30, 2014 | Mar. 31, 2014 | Sep. 30, 2013 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ||||||||
Weighted average grant-date fair value of stock options | $ 0.77 | $ 0.57 | $ 0.63 | |||||
Assumptions | ||||||||
Risk-free interest rate (weighted average) | 0.11% | 0.40% | 0.80% | 0.40% | 0.11% | 1.10% | 1.20% | 0.60% |
Expected dividend yield | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | ||
Weighted average expected life (years) | 6 months | 6 months | 6 months | 6 months | 6 months | 4 years | 4 years | 4 years |
Volatility (weighted average) | 103.80% | 109.10% | 74.00% | 44.00% | 45.00% | 83.50% | 82.90% | 68.10% |
Forfeiture rate | 23.30% | 25.50% | 11.40% |
Stock-Based Compensation - As53
Stock-Based Compensation - Assumptions Used Estimate Fair Value of Employee Stock Purchase Plans (Detail) - $ / shares shares in Thousands | 6 Months Ended | 12 Months Ended | ||||||
Sep. 30, 2015 | Mar. 31, 2015 | Sep. 30, 2014 | Mar. 31, 2014 | Sep. 30, 2013 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ||||||||
Shares purchased for offering period | 12,451 | 11,216 | 13,619 | 13,734 | 19,490 | |||
Fair value per share | $ 0.60 | $ 0.43 | $ 0.83 | $ 0.30 | $ 0.44 | |||
Assumptions | ||||||||
Risk-free interest rate (average) | 0.11% | 0.40% | 0.80% | 0.40% | 0.11% | 1.10% | 1.20% | 0.60% |
Expected dividend yield | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | ||
Weighted average expected life (years) | 6 months | 6 months | 6 months | 6 months | 6 months | 4 years | 4 years | 4 years |
Volatility (average) | 103.80% | 109.10% | 74.00% | 44.00% | 45.00% | 83.50% | 82.90% | 68.10% |
Stock-Based Compensation - Non-
Stock-Based Compensation - Non-Cash Stock-Based Compensation Expenses (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | |||
Total non-cash stock compensation expense | $ 2,158 | $ 3,652 | $ 3,533 |
Cost of revenues [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | |||
Total non-cash stock compensation expense | 12 | 13 | 20 |
Selling and marketing [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | |||
Total non-cash stock compensation expense | 335 | 270 | 766 |
Research and development [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | |||
Total non-cash stock compensation expense | 644 | 659 | 809 |
General and administrative [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | |||
Total non-cash stock compensation expense | $ 1,167 | 1,437 | $ 1,938 |
Restructuring expenses[Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | |||
Total non-cash stock compensation expense | $ 1,273 |
Stock-Based Compensation - Summ
Stock-Based Compensation - Summary of Outstanding Stock Options and Related Activity (Detail) - USD ($) $ / shares in Units, shares in Thousands | 12 Months Ended | |||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ||||
Outstanding shares, beginning balance | 2,134 | 2,170 | 2,275 | |
Granted shares | 75 | 633 | 120 | |
Exercised shares | (8) | (4) | ||
Cancelled shares | (556) | (665) | (225) | |
Outstanding shares, ending balance | 1,645 | 2,134 | 2,170 | |
Outstanding weighted average exercise price, beginning balance | $ 5.29 | $ 6.76 | $ 7.02 | |
Exercisable, shares | 1,132 | 1,291 | 1,573 | 1,474 |
Granted, weighted average exercise price | $ 1.27 | $ 0.95 | $ 1.31 | |
Vested and expected to vest, shares | 1,593 | |||
Exercised, weighted average exercise price | $ 1.19 | 1.38 | ||
Cancelled, weighted average exercise price | 4.05 | 5.98 | 6.52 | |
Outstanding weighted average exercise price, Ending balance | 5.39 | 5.29 | 6.76 | |
Exercisable, weighted average exercise price | 7.34 | $ 8.04 | $ 8.81 | $ 10.09 |
Vested and expected to vest, weighted average exercise price | $ 5.53 | |||
Aggregate intrinsic value | $ 0 | |||
Exercisable, Aggregate intrinsic value | 0 | |||
Vested and expected to vest, Aggregate Intrinsic Value | $ 0 |
Stock-Based Compensation - Su56
Stock-Based Compensation - Summary of Outstanding Stock Options and Related Activity (Parenthetical) (Detail) - $ / shares shares in Thousands | 12 Months Ended | |||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ||||
Exercisable, shares | 1,132 | 1,291 | 1,573 | 1,474 |
Weighted average grant-date fair value of stock options granted | $ 0.77 | $ 0.57 | $ 0.63 | |
Exercisable, weighted average exercise price | $ 7.34 | $ 8.04 | $ 8.81 | $ 10.09 |
Stock-Based Compensation - Su57
Stock-Based Compensation - Summary of Outstanding Restricted Stock Awards and Related Activity (Detail) - Restricted stock [Member] - $ / shares shares in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Number of shares, beginning balance | 1,725 | 1,746 | 1,319 |
Number of shares, Granted | 1,375 | 1,625 | 1,495 |
Number of shares, Vested | (1,011) | (1,442) | (752) |
Number of shares, Cancelled and forfeited | (284) | (204) | (316) |
Number of shares, ending balance | 1,805 | 1,725 | 1,746 |
Weighted average grant date fair value, beginning balance | $ 1.91 | $ 2.48 | $ 4.60 |
Weighted average grant date fair value, Granted | 1.50 | 1.79 | 1.70 |
Weighted average grant date fair value, Vested | 1.95 | 2.48 | 4.43 |
Weighted average grant date fair value, Cancelled and forfeited | 1.67 | 1.79 | 3 |
Weighted average grant date fair value, ending balance | $ 1.61 | $ 1.91 | $ 2.48 |
Equity Transactions - Additiona
Equity Transactions - Additional Information (Detail) $ / shares in Units, $ in Millions | Aug. 15, 2014USD ($)$ / sharesshares |
Class of Stock [Line Items] | |
Gross proceeds before deduction commissions and other expenses | $ 5.6 |
Offering cost related to the transaction | 0.4 |
Cash from issuance of common stock, net of offering costs | $ 5.2 |
Private Placement [Member] | |
Class of Stock [Line Items] | |
Common stock, issued and sold to investors | shares | 6,845,830 |
Common stock, price per share | $ / shares | $ 0.816 |
Commission | $ 0.2 |
Legal and other expenses | $ 0.2 |
Preferred Stock - Additional In
Preferred Stock - Additional Information (Detail) - $ / shares | 12 Months Ended | ||
Dec. 31, 2015 | Oct. 16, 2015 | Dec. 31, 2014 | |
Preferred Stock [Line Items] | |||
Common stock, par value | $ 0.001 | $ 0.001 | |
Preferred stock, par value | $ 0.001 | $ 0.001 | |
Preferred Shares Rights Agreement [Member] | |||
Preferred Stock [Line Items] | |||
Common stock, par value | $ 0.001 | ||
Dividend payable, Record Date | Oct. 26, 2015 | ||
Preferred stock, par value | 0.001 | ||
Rights exercise price | $ 6.69 | ||
Preferred Shares Rights Agreement, description | Each Right entitles the registered holder to purchase from the Company one one-thousandth of a share of Series A Participating Preferred Stock, par value $0.001 per share ("Preferred Shares"), of the Company at an exercise price of $6.69 per one one-thousandth of a Preferred Share, subject to adjustment. | ||
Preferred Shares Rights Agreement [Member] | Minimum [Member] | |||
Preferred Stock [Line Items] | |||
Percentage of ownership restriction by person or group | 20.00% |
Subsequent Events - Additional
Subsequent Events - Additional Information (Detail) $ in Millions | Mar. 08, 2016USD ($) |
Scenario, Forecast [Member] | Birdstep Technology's [Member] | |
Subsequent Event [Line Items] | |
Cash payment to be made for business acquisition | $ 2 |
Quarterly Financial Data - Summ
Quarterly Financial Data - Summarized Quarterly Information (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Quarterly Financial Information Disclosure [Abstract] | |||||||||||
Revenues | $ 10,006 | $ 9,586 | $ 9,386 | $ 10,529 | $ 10,554 | $ 9,448 | $ 8,528 | $ 8,449 | $ 39,507 | $ 36,979 | $ 42,675 |
Gross profit | 8,002 | 7,627 | 7,315 | 8,411 | 8,309 | 7,247 | 6,077 | 6,029 | 31,355 | 27,662 | 32,968 |
Operating income (loss) | (547) | (768) | (1,225) | 2 | 217 | (1,144) | (5,681) | (5,134) | (2,538) | (11,742) | (27,830) |
Net income (loss) | $ (591) | $ (770) | $ (1,231) | $ (10) | $ 205 | $ (1,142) | $ (5,695) | $ (5,167) | $ (2,602) | $ (11,799) | $ (27,953) |
Net (loss) per share, basic | $ (0.01) | $ (0.02) | $ (0.03) | $ 0 | $ 0 | $ (0.03) | $ (0.15) | $ (0.14) | $ (0.06) | $ (0.29) | $ (0.76) |
Weighted average shares outstanding, basic | 45,860 | 46,160 | 46,257 | 45,501 | 45,053 | 41,225 | 38,518 | 37,714 | 45,946 | 40,649 | 36,982 |
Net (loss) per share, diluted | $ (0.01) | $ (0.02) | $ (0.03) | $ 0 | $ 0 | $ (0.03) | $ (0.15) | $ (0.14) | $ (0.06) | $ (0.29) | $ (0.76) |
Weighted average shares outstanding, diluted | 45,860 | 46,160 | 46,257 | 45,501 | 45,053 | 41,225 | 38,518 | 37,714 | 45,946 | 40,649 | 36,982 |
Schedule II - Valuation and Q62
Schedule II - Valuation and Qualifying Accounts (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Allowance for accounts receivable [Member] | |||
Valuation and Qualifying Accounts Disclosure [Line Items] | |||
Valuation Allowances and Reserves, Balance at beginning of period | $ 602 | $ 617 | $ 482 |
Valuation Allowances and Reserves, Additions charged to costs and expenses | 31 | 347 | 730 |
Valuation Allowances and Reserves, Deductions | (432) | (362) | (595) |
Valuation Allowances and Reserves, Balance at end of period | 201 | 602 | 617 |
Allowance for excess and obsolete inventory [Member] | |||
Valuation and Qualifying Accounts Disclosure [Line Items] | |||
Valuation Allowances and Reserves, Balance at beginning of period | 151 | 301 | 352 |
Valuation Allowances and Reserves, Additions charged to costs and expenses | 48 | 124 | 76 |
Valuation Allowances and Reserves, Deductions | (41) | (274) | (127) |
Valuation Allowances and Reserves, Balance at end of period | $ 158 | $ 151 | $ 301 |