XML 1076 R34.htm IDEA: XBRL DOCUMENT v2.4.0.8
Stockholders' Equity (Tables)
12 Months Ended
Dec. 31, 2013
Stockholders' Equity  
Summary of warrants to purchase common stock issued and exercised

 

 

 
  Common Stock
Warrants
 

Outstanding at December 31, 2010

    970,915  

Exercised

    (982,092 )

Issued

    624,755  

Cancelled

    (584,840 )

Conversion from Preferred Stock Warrants

    561,203  
       
​ ​ ​ ​ ​

Outstanding at December 31, 2011

    589,941  

Exercised

    (449,877 )

Issued

    10,000  

Cancelled

    (124,447 )
       
​ ​ ​ ​ ​

Outstanding at December 31, 2012

    25,617  

Exercised

    (14,907 )

Issued

    —  

Cancelled

    —  
       
​ ​ ​ ​ ​

Outstanding at December 31, 2013

    10,710  
       
​ ​ ​ ​ ​
​ ​ ​ ​ ​
       

Weighted average exercise price

  $ 13.26  
       
​ ​ ​ ​ ​
​ ​ ​ ​ ​
       
Summary of status of stock options issued pursuant to the plans

 

 

Options
  Number of Shares   Weighted
Average
Exercise Price
  Weighted
Average
Contractual
Life (years)
 

Outstanding at December 31, 2010

    5,679,003   $ 2.14        

Granted

    2,061,377   $ 6.60        

Forfeited

    (69,343 ) $ 4.52        

Exercised

    (1,000,702 ) $ 1.40        
                 
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Outstanding at December 31, 2011

    6,670,335   $ 3.60     7.3  

Granted

    2,326,500   $ 15.83        

Forfeited

    (282,909 ) $ 8.67        

Exercised

    (1,859,557 ) $ 2.19        
                 
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Outstanding at December 31, 2012

    6,854,369   $ 7.92     7.5  

Granted

    463,475   $ 14.25        

Forfeited

    (135,626 ) $ 13.15        

Exercised

    (1,015,817 ) $ 4.75        
                 
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Outstanding at December 31, 2013

    6,166,401   $ 8.81        

Exercisable at end of the period

   
4,086,272
 
$

6.82
   
6.3
 
                 
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                 

Available for future grants at December 31, 2013

    968,154              
                   
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                   
Summary of intrinsic values of options outstanding, vested and exercised

The intrinsic values of options outstanding, vested and exercised during the years ended December 31, 2011, 2012 and 2013 were as follows:

 
  2011   2012   2013  
 
  Number of
Options
  Intrinsic
Value
  Number of
Options
  Intrinsic
Value
  Number of
Options
  Intrinsic
Value
 

Outstanding

    6,670,335   $ 78,699,148     6,854,369   $ 35,977,101     6,166,401   $ 57,358,729  

Vested

    3,533,766   $ 48,073,129     3,226,280   $ 27,902,361     4,086,272   $ 46,133,626  

Exercised

    1,000,702   $ 9,930,497     1,859,557   $ 29,851,276     1,015,817   $ 14,932,262  
Summary of status of restricted stock units issued pursuant to the plans

 

 

Restricted Stock Units
  Number of Shares   Weighted
Average Fair
Value
 

Outstanding at December 31, 2011

    —   $ —  

Granted

    223,814   $ 17.30  

Forfeited

    (2,500 ) $ 20.35  
             
​ ​ ​ ​ ​ ​ ​ ​

Outstanding at December 31, 2012

    221,314   $ 17.27  
             
​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​
             

Granted

    684,084   $ 14.89  

Vested

    (92,338 ) $ 17.05  

Forfeited

    (4,267 ) $ 15.70  
             
​ ​ ​ ​ ​ ​ ​ ​

Outstanding at December 31, 2013

    808,793   $ 15.29  
             
​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​
             
Schedule of total compensation expense for stock-based compensation awards included in the accompanying condensed consolidated statements of operations

In accordance with Accounting Standards Classification ("ASC") 718, Share Based Payment ("ASC 718"), total compensation expense for stock-based compensation awards was $4.0 million, $9.2 million and $13.3 million for the years ended December 31, 2011, 2012 and 2013, respectively, which is included on the accompanying consolidated statements of operations as follows (in thousands):

 
  For the Years Ended
December 31,
 
 
  2011   2012   2013  

Cost of goods sold

  $ 669   $ 1,347   $ 2,108  

Sales and marketing expenses

    1,201     2,133     3,941  

General and administrative expenses

    1,934     5,105     6,220  

Research and development

    176     580     990  
               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total stock-based employee compensation

  $ 3,980   $ 9,165   $ 13,259  
               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
               
Schedule of stock-based compensation expense for the equity awards outstanding

Stock-based compensation expense for the equity awards outstanding as of December 31, 2013 will be recognized over the following periods as follows (in thousands):

Years Ending December 31,
   
 

2014

  $ 11,944  

2015

    8,313  

2016

    2,544  

2017

    121  
       
​ ​ ​ ​ ​

 

  $ 22,922  
       
​ ​ ​ ​ ​
​ ​ ​ ​ ​
       
Schedule of valuation assumptions used to determine value of options granted during the year using Black-Scholes valuation model

 

 

 
  2011   2012   2013

Expected dividend yield

  0%   0%   0%

Risk-free interest rate

  1.25% to 2.6%   0.79% to 1.16%   1.04% to 1.86%

Expected term (in years)

  5.5 - 6.2 years   5.5 - 6.1 years   5.7 - 6.1 years

Expected volatility

  59.74% - 60.88%   58.09% - 59.92%   56.34% - 56.84%