CONTROL4 CORP - 10-Q filing on 2015-07-31

Description of Business and Summary of Significant Accounting Policies (Tables)

6 Months Ended

Jun. 30, 2015

Description of Business and Summary of Significant Accounting Policies

Schedule of revenue from United States, Canada and all other international dealers and distributors combined

The following table sets forth revenue from the U.S., Canadian and all other international dealers and distributors combined (in thousands):


	Three Months Ended						Six Months Ended
	June 30,						June 30,
	2014			2015			2014			2015
Revenue-United States	$	24,762		$	30,055		$	45,804		$	51,272
Revenue-Canada		3,415			4,122			6,645			7,208
Revenue-all other international sources		8,485			10,465			16,066			18,245
Total revenue	$	36,661		$	44,641		$	68,516		$	76,724
International revenue (excluding Canada) as a percent of total revenue		23	%		23	%		23	%		24	%

Schedule of changes in the product warranty liability

The following table presents the changes in the product warranty liability (in thousands):


	Warranty Liability
Balance at December 31, 2014	$	1,191
Warranty costs accrued		1,116
Warranty claims		(963)
Balance at June 30, 2015	$	1,344

Schedule of reconciliation of the numerator and denominator used in the calculation of basic and diluted net loss per share

The following table presents the reconciliation of the numerator and denominator used in the calculation of basic and diluted net income (loss) per share (in thousands):


	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2014		2015		2014		2015
Numerator:
Net income (loss)	$	2,011	$	2,041	$	1,472	$	(2,190)
Denominator:
Weighted average common stock outstanding for basic net income (loss) per common share		23,715		24,309		23,417		24,326
Effect of dilutive securities—stock options		1,956		987		2,292		—
Weighted average common shares and dilutive securities outstanding		25,671		25,296		25,709		24,326

Schedule of anti-dilutive weighted-average common stock equivalents excluded from the calculation of diluted net loss per share

The following weighted-average common stock equivalents were anti-dilutive and therefore were excluded from the calculation of diluted net income (loss) per share (in thousands):


	Three Months Ended		Six Months Ended
	June 30,		June 30,
	2014	2015	2014	2015
Options to purchase common stock	1,115	2,417	746	4,817