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Stockholders' Equity (Tables)
3 Months Ended
Mar. 31, 2013
Stockholders' Equity  
Summary of warrants exercised to purchase common stock

 

 

 

 

Number of

 

 

 

Stock

 

 

 

Warrants

 

 

 

 

 

Outstanding at beginning of the year

 

25,617

 

Exercised

 

(2,840

)

Issued

 

 

Cancelled

 

 

Outstanding at end of the period

 

22,777

 

 

 

 

 

Weighted average exercise price

 

$

7.48

 

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 beginning of the year

 

6,854,369

 

$

7.92

 

 

 

Granted

 

391,275

 

$

14.29

 

 

 

Forfeited

 

(31,671

)

$

10.48

 

 

 

Exercised

 

(100,671

)

$

2.97

 

 

 

Outstanding at end of the period

 

7,113,302

 

$

8.33

 

7.5

 

 

 

 

 

 

 

 

 

Exercisable at end of the period

 

3,849,690

 

$

5.06

 

6.4

 

 

 

 

 

 

 

 

 

Available for future grants at March 31, 2013

 

173,682

 

 

 

 

 

Summary of intrinsic values of options outstanding, vested and exercised

 

 

 

 

2013

 

 

 

Number of

 

Intrinsic

 

 

 

Options

 

Value

 

Outstanding

 

7,113,302

 

$

37,296,821

 

Vested

 

3,849,690

 

$

29,926,026

 

Exercised

 

100,671

 

$

1,133,058

 

Summary of status of restricted stock units issued pursuant to the plans

 

 

Restricted Stock Units

 

Number of Shares

 

Weighted
Average Fair
Value

 

 

 

 

 

 

 

Outstanding at beginning of the year

 

221,314

 

$

17.27

 

Granted

 

519,034

 

$

14.93

 

Vested

 

(37,957

)

$

16.29

 

Outstanding at end of the period

 

702,391

 

$

15.59

 

Schedule of total compensation expense for stock-based compensation awards included in the accompanying condensed consolidated statements of operations

In accordance with ASC 718, Share Based Payment (“ASC 718”), total compensation expense for stock-based compensation awards was $1.6 million and $3.1 million for the three months ended March 31, 2012 and 2013, respectively, which is included on the accompanying condensed consolidated statements of operations as follows (in thousands):

 

 

 

Three Months Ended

 

 

 

March 31,

 

 

 

2012

 

2013

 

Cost of goods sold

 

$

250

 

$

554

 

Sales and marketing expenses

 

366

 

813

 

General and administrative expenses

 

915

 

1,472

 

Research and development

 

93

 

260

 

Total stock-based employee compensation

 

$

1,624

 

$

3,099

 

Schedule of stock-based employee compensation expense for equity awards granted

Stock-based employee compensation expense for equity awards granted since January 1, 2006 will be recognized over the following periods as follows (in thousands):

 

Years Ending December 31,

 

 

 

2013

 

$

9,091

 

2014

 

10,865

 

2015

 

7,701

 

2016

 

2,095

 

2017

 

92

 

 

 

$

29,844

 

Schedule of valuation assumptions used to determine value of options granted during the year using Black-Scholes valuation model

 

 

 

 

2013

 

 

 

 

 

Expected dividend yield

 

0%

 

Risk-free interest rate

 

1.04% to 1.14%

 

Expected term (in years)

 

5.8 - 6.1 years

 

Expected volatility

 

56.34% - 56.38%