|
Equity Compensation (Tables)
|
3 Months Ended |
|
Mar. 31, 2014
|
| Equity Compensation |
|
| Summary of stock option activity |
|
|
|
Shares
Subject to
Options
Outstanding |
|
Weighted
Average
Grant Date
Fair Value |
|
Weighted
Average
Exercise
Price |
|
Weighted
Average
Remaining
Contractual
Life (Years) |
|
|
Balance at December 31, 2013 |
|
4,905,214 |
|
|
|
$ |
6.31 |
|
|
|
|
Granted |
|
787,244 |
|
$ |
11.82 |
|
20.86 |
|
|
|
|
Exercised |
|
(786,201 |
) |
|
|
4.06 |
|
|
|
|
Forfeited |
|
(11,783 |
) |
|
|
14.39 |
|
|
|
|
Balance at March 31, 2014 |
|
4,894,474 |
|
|
|
8.96 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Exercisable options at March 31, 2014 |
|
2,668,667 |
|
|
|
5.27 |
|
5.0 |
|
|
Vested and expected to vest at March 31, 2014 |
|
4,672,052 |
|
|
|
8.65 |
|
6.6 |
|
|
|
|
|
|
|
|
|
|
|
|
| |
| Summary of stock options outstanding and exercisable |
The following table summarizes information about stock options outstanding and exercisable at March 31, 2014:
|
|
|
Options Outstanding |
|
Options Exercisable |
|
|
Range of Exercise Prices |
|
Weighted
Average
Exercise
Price |
|
Number of
Underlying
Shares |
|
Weighted-
Average
Remaining
Contractual
Life (in
years) |
|
Number of
Underlying
Shares |
|
Weighted-
Average
Remaining
Contractual
Life (in
years) |
|
|
$0.26 - 1.30 |
|
$ |
0.64 |
|
63,440 |
|
1.0 |
|
63,440 |
|
1.0 |
|
|
1.35 - 2.60 |
|
2.22 |
|
299,241 |
|
1.8 |
|
299,241 |
|
1.8 |
|
|
2.65 - 3.90 |
|
3.17 |
|
252,213 |
|
2.6 |
|
252,213 |
|
2.6 |
|
|
3.95 - 5.20 |
|
4.87 |
|
765,480 |
|
3.9 |
|
765,480 |
|
3.9 |
|
|
5.25 - 6.50 |
|
6.18 |
|
1,510,915 |
|
7.1 |
|
960,056 |
|
6.9 |
|
|
6.55 - 7.80 |
|
7.49 |
|
108,979 |
|
6.3 |
|
96,014 |
|
6.3 |
|
|
7.85 - 9.10 |
|
8.84 |
|
230,734 |
|
8.2 |
|
101,721 |
|
8.2 |
|
|
9.15 – 22.92 |
|
15.89 |
|
1,663,472 |
|
9.1 |
|
130,502 |
|
8.7 |
|
|
|
|
|
|
4,894,474 |
|
|
|
2,668,667 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
| Summary of aggregate intrinsic-value of options exercised, exercisable and vested and expected to vest |
The following table summarizes the aggregate intrinsic-value of options exercised, exercisable and vested and expected to vest (in thousands):
|
|
|
For the three months ended
and as of March 31, 2014 |
|
|
Options Exercised |
|
$ |
14,032 |
|
|
Options Exercisable |
|
42,533 |
|
|
Options Vested and Expected to Vest |
|
58,783 |
|
|
|
|
|
| |
| Schedule of assumptions used to estimate fair value of option awards |
|
|
|
Three Months Ended March 31, |
|
|
|
|
2013 |
|
2014 |
|
|
Expected volatility |
|
— |
% |
56 – 60 |
% |
|
Expected dividends |
|
— |
% |
0 |
% |
|
Expected terms (in years) |
|
— |
|
3.8 – 6.1 |
|
|
Risk-free rate |
|
— |
% |
1.1 – 2.0 |
% | |
| Schedule of total stock-based compensation expense classified in statements of operations |
Total stock-based compensation expense has been classified as follows in the accompanying statements of operations (in thousands):
|
|
|
Three Months Ended March 31, |
|
|
|
|
2013 |
|
2014 |
|
|
Cost of revenue |
|
$ |
16 |
|
$ |
20 |
|
|
Research and development |
|
236 |
|
478 |
|
|
Sales and marketing |
|
184 |
|
222 |
|
|
General and administrative |
|
402 |
|
527 |
|
|
Total stock-based compensation expense |
|
$ |
838 |
|
$ |
1,247 |
| |