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Stock-Based Compensation (Tables)
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12 Months Ended |
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Dec. 31, 2013
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| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] |
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| Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value |
The following table presents details on grants made by the Company for the following periods: | | | | | | | | | | | | | | | | Years Ended | | Years Ended | | December 31, 2013 | | December 31, 2012 | | Shares Granted | | Weighted- Average Grant Date Fair Value | | Shares Granted | | Weighted- Average Grant Date Fair Value | Stock options | 1,720,242 |
| | $ | 4.16 |
| | 1,339,129 |
| | $ | 4.50 |
| RSUs | 814,000 |
| | $ | 8.47 |
| | 274,070 |
| | $ | 6.48 |
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| Schedule of Share-Based Compensation, Reserved Shares Outstanding |
As of December 31, 2013 and December 31, 2012, the Company had reserved shares of common stock for issuance as follows: | | | | | | December 31, 2013 | | December 31, 2012 | Number of stock options outstanding | 6,468,743 | | 7,426,417 | Number of RSUs outstanding | 850,351 | | 254,863 | Shares available for future grant | 5,238,699 | | 5,001,956 | Number of warrants outstanding | 912,368 | | 912,368 | Total shares reserved | 13,470,161 | | 13,595,604 |
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| Summary of stock option activity |
Option activity for the periods presented is as follows: | | | | | | | | | | | | | | | Options Outstanding | | Number of Stock Options Outstanding | | Weighted- Average Exercise Price | | Weighted- Average Remaining Contractual Life (Years) | | Aggregate Intrinsic Value (in thousands) | Balance as of December 31, 2010 | 7,268,909 |
| | $ | 1.48 |
| | 6.9 | | $ | 13,937 |
| Granted | 1,570,684 |
| | 7.13 |
| | | | |
| Exercised | (368,194 | ) | | 1.26 |
| | | | 2,854 |
| Cancelled | (241,802 | ) | | 3.28 |
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| Balance as of December 31, 2011 | 8,229,597 |
| | 2.52 |
| | 6.6 | | 50,541 |
| Granted | 1,339,129 |
| | 8.12 |
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| Exercised | (1,747,213 | ) | | 1.39 |
| | | | 9,558 |
| Cancelled | (395,096 | ) | | 6.63 |
| | | | | Balance as of December 31, 2012 | 7,426,417 |
| | 3.57 |
| | 6.4 | | 40,040 |
| Granted | 1,720,242 |
| | 7.53 |
| | | | | Exercised | (2,031,903 | ) | | 1.31 |
| | | | 11,816 |
| Cancelled | (646,013 | ) | | 7.40 |
| | | | | Balance as of December 31, 2013 | 6,468,743 |
| | $ | 4.96 |
| | 6.7 | | $ | 8,991 |
| Exercisable as of December 31, 2013 | 3,957,414 |
| | $ | 3.40 |
| | 5.4 | | $ | 8,839 |
| Vested and expected to vest as of December 31, 2013 | 6,028,954 |
| | $ | 4.77 |
| | 6.6 | | $ | 8,983 |
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| Summary of restricted stock award activity |
Restricted stock award and restricted stock unit ("RSUs") activity for the periods presented is as follows: | | | | | | | | | Number of Stock RSUs Outstanding | | Weighted-Average Grant Date Fair Value | Balance as of December 31, 2011 | — |
| | $ | — |
| Granted | 274,070 |
| | 6.48 |
| Vested | — |
| | — |
| Forfeited | (19,207 | ) | | 6.49 |
| Balance as of December 31, 2012 | 254,863 |
| | 6.48 |
| Granted | 814,000 |
| | 8.47 |
| Vested | (74,985 | ) | | — |
| Forfeited | (143,527 | ) | | 8.56 |
| Balance as of December 31, 2013 | 850,351 |
| | $ | 7.99 |
| Vested and expected to vest as of December 31, 2013 | 695,488 |
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| Schedule of stock-based compensation expense |
The Company recognized stock-based compensation expense for awards granted to its employees and nonemployees as follows (in thousands): | | | | | | | | | | | | | | Years Ended | | December 31, | | 2013 | | 2012 | | 2011 | Cost of revenue | $ | 1,453 |
| | $ | 1,011 |
| | $ | 622 |
| Research and development | 1,301 |
| | 872 |
| | 462 |
| Sales and marketing | 1,175 |
| | 774 |
| | 770 |
| General and administrative | 1,554 |
| | 995 |
| | 588 |
| Total stock-based compensation | $ | 5,483 |
| | $ | 3,652 |
| | $ | 2,442 |
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| Schedule of Compensation Cost for Share-based Payment Arrangements, Allocation of Share-based Compensation Costs by Plan |
The following table presents stock-based compensation expense, net of estimated forfeitures, by grant type (in thousands): | | | | | | | | | | | | | | Years Ended | | December 31, | | 2013 | | 2012 | | 2011 | Stock options | $ | 3,906 |
| | $ | 3,369 |
| | $ | 2,442 |
| Restricted stock awards and restricted stock units (RSUs) | 1,577 |
| | 283 |
| | — |
| Total stock-based compensation | $ | 5,483 |
| | $ | 3,652 |
| | $ | 2,442 |
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| Schedule of Unrecognized Compensation Cost, Nonvested Awards |
The following table presents unrecognized compensation expense, net of estimated forfeitures, related to the Company’s equity compensation plans as of December 31, 2013, which is expected to be recognized over the following weighted-average periods, (in thousands, except for weighted-average period): | | | | | | | | Unrecognized Compensation Expense | | Weighted- Average Period (in years) | Stock options | $ | 7,298 |
| | 2.7 | RSUs | $ | 4,219 |
| | 2.9 |
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| Summary of stock option information by exercise price |
Additional information regarding options outstanding as of December 31, 2013 is as follows: | | | | | | | | | | | | | | | | | | | | Options Outstanding | | Options Exercisable | Range of Exercise Prices
| | Options Outstanding | | Weighted-Average Remaining Contractual Life (Years) | | Weighted-Average Exercise Price per Share | | Exercisable | | Weighted-Average Exercise Price per Share | $0.00 - $1.50 | | 637,991 |
| | 2.0 | | $ | 0.58 |
| | 637,991 |
| | $ | 0.58 |
| $1.51 - $3.00 | | 2,225,689 |
| | 5.2 | | 2.18 |
| | 2,168,575 |
| | 2.17 |
| $3.01 - $4.50 | | 89,468 |
| | 6.9 | | 3.40 |
| | 67,622 |
| | 3.40 |
| $4.51 - $6.00 | | 607,140 |
| | 9.8 | | 5.55 |
| | 9,564 |
| | 5.34 |
| $6.01 - $7.50 | | 1,300,259 |
| | 8.0 | | 6.35 |
| | 656,966 |
| | 6.35 |
| $7.51 - $9.00 | | 888,200 |
| | 8.5 | | 8.76 |
| | 276,590 |
| | 8.84 |
| $9.01 - $11.50 | | 629,996 |
| | 8.8 | | 9.58 |
| | 87,400 |
| | 9.81 |
| $11.51 - $12.00 | | 90,000 |
| | 7.6 | | 11.96 |
| | 52,706 |
| | 11.96 |
| | | 6,468,743 |
| | 6.7 | | $ | 4.96 |
| | 3,957,414 |
| | $ | 3.40 |
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| Assumptions for the fair value of stock options |
The fair value of the employee stock options were estimated on the grant dates using a Black-Scholes option-pricing model with the following weighted average assumptions: | | | | | | | | | | | Years Ended | | December 31, | | 2013 | | 2012 | | 2011 | Expected term (in years) | 6.0 |
| | 6.0 |
| | 6.0 |
| Risk-free interest rate | 1.4 | % | | 1.1 | % | | 2.1 | % | Expected volatility | 59 | % | | 60 | % | | 57 | % | Expected dividend rate | — | % | | — | % | | — | % |
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