Share-Based Compensation (Tables)

9 Months Ended

Sep. 30, 2015

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Share-based compensation expense included in costs and expenses

	Three Months Ended September 30,				Nine Months Ended September 30,
	2015		2014		2015		2014
	(in thousands)
Share-based compensation expense:
Cost of revenues	$	43	$	18	$	106	$	52
Sales and marketing		153		149		439		400
Technology support		202		62		429		187
General and administrative (1)		287		142		922		389
Share-based compensation costs		685		371		1,896		1,028
Amount capitalized to internal use software		1		1		7		3
Total share-based compensation costs	$	684	$	370	$	1,889	$	1,025

(1)  Certain awards were modified in accordance with the Company’s former Chief Financial Officer’s consulting agreement and their vesting accelerated in accordance with the terms of the applicable option agreements.  The total expense related to these modifications and acceleration of vested awards was approximately $0.2 million in the three months ended March 31, 2015.

Service based options granted during period

	Three Months Ended September 30,				Nine Months Ended September 30,
	2015		2014		2015		2014
Number of service-based options granted		16,200		59,500		600,750		461,250
Weighted average grant date fair value	$	8.12	$	3.88	$	5.69	$	6.99
Weighted average exercise price	$	17.42	$	8.50	$	12.38	$	15.44

Stock option exercises

	Three Months Ended September 30,				Nine Months Ended September 30,
	2015		2014		2015		2014
Number of stock options exercised		—		—		19,074		118,996
Weighted average exercise price	$	—	$	—	$	5.92	$	4.20

Fair value of stock options granted using the following weighted average assumptions

	Three Months Ended September 30,					Nine Months Ended September 30,
	2015			2014		2015			2014
Dividend yield		—			—		—			—
Volatility		57	%		56%		56	%		56	%
Risk-free interest rate		1.4	%		1.5%		1.3	%		1.4	%
Expected life (years)		4.4			4.3		4.4			4.3