|
Equity Compensation (Tables)
|
6 Months Ended |
|
Jun. 30, 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 |
|
838,878 |
|
$ |
11.72 |
|
20.68 |
|
|
|
|
Exercised |
|
(997,960 |
) |
|
|
4.25 |
|
|
|
|
Expired |
|
(136 |
) |
|
|
7.40 |
|
|
|
|
Forfeited |
|
(48,189 |
) |
|
|
16.69 |
|
|
|
|
Balance at June 30, 2014 |
|
4,697,807 |
|
|
|
9.18 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Exercisable options at June 30, 2014 |
|
2,694,980 |
|
|
|
5.62 |
|
5.1 |
|
|
Vested and expected to vest at June 30, 2014 |
|
4,507,086 |
|
|
|
8.90 |
|
6.5 |
|
|
|
|
|
|
|
|
|
|
|
|
| |
| Summary of stock options outstanding and exercisable |
The following table summarizes information about stock options outstanding and exercisable at June 30, 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) |
|
|
$0.52 - 1.72 |
|
$ |
0.98 |
|
52,971 |
|
1.2 |
|
52,971 |
|
1.2 |
|
|
1.97 — 3.38 |
|
2.43 |
|
410,623 |
|
1.9 |
|
410,623 |
|
1.9 |
|
|
3.58 — 6.14 |
|
5.54 |
|
1,897,260 |
|
5.5 |
|
1,600,058 |
|
5.2 |
|
|
6.34 — 9.94 |
|
8.27 |
|
1,062,937 |
|
7.8 |
|
527,829 |
|
7.6 |
|
|
11.28 — 16.97 |
|
11.99 |
|
442,984 |
|
7.9 |
|
101,799 |
|
6.6 |
|
|
17.66 — 22.92 |
|
21.01 |
|
831,032 |
|
9.6 |
|
1,700 |
|
9.1 |
|
|
|
|
|
|
4,697,807 |
|
|
|
2,694,980 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
| 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 six months ended
and as of June 30, 2014 |
|
|
Options Exercised |
|
$ |
16,907 |
|
|
Options Exercisable |
|
37,576 |
|
|
Options Vested and Expected to Vest |
|
49,142 | |
| Schedule of assumptions used to estimate fair value of option awards |
|
|
|
Three Months Ended
June 30, |
|
Six Months Ended
June 30, |
|
|
|
|
2013 |
|
2014 |
|
2013 |
|
2014 |
|
|
Expected volatility |
|
56-59 |
% |
59 |
% |
56-59 |
% |
56-60 |
% |
|
Expected dividends |
|
0 |
% |
0 |
% |
0 |
% |
0 |
% |
|
Expected terms (in years) |
|
3.3-7.2 |
|
6.0-6.1 |
|
3.3-7.2 |
|
3.8-6.1 |
|
|
Risk-free rate |
|
0.8-1.7 |
% |
1.7-1.9 |
% |
0.8-1.7 |
% |
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
June 30, |
|
Six Months Ended
June 30, |
|
|
|
|
2013 |
|
2014 |
|
2013 |
|
2014 |
|
|
Cost of revenue |
|
$ |
15 |
|
$ |
28 |
|
$ |
31 |
|
$ |
48 |
|
|
Research and development |
|
319 |
|
642 |
|
555 |
|
1,120 |
|
|
Sales and marketing |
|
172 |
|
292 |
|
356 |
|
514 |
|
|
General and administrative |
|
364 |
|
446 |
|
766 |
|
973 |
|
|
Total stock-based compensation expense |
|
$ |
870 |
|
$ |
1,408 |
|
$ |
1,708 |
|
$ |
2,655 |
| |