Commitments and contingencies

6 Months Ended

Jun. 30, 2014

Commitments and contingencies

Commitments and contingencies

9. Commitments and contingencies

Letters of credit

We have entered into Letter of Credit Authorization agreements (collectively, “Letters of Credit”) with Silicon Valley Bank. The Letters of Credit are irrevocable and serve as performance guarantees that will allow our customers to draw upon the available funds if we are in default. As of June 30, 2014, we have Letters of Credit totaling $2,857 that are scheduled to expire over the next thirteen-month period. There have been no drafts drawn under these Letters of Credit as of June 30, 2014.

Legal proceedings

From time to time, we may be subject to claims, suits, investigations and proceedings arising out of the normal course of business. We are not currently a party to any litigation that we believe could have a material adverse effect on our business, financial position, results of operations or cash flows.