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Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2015

Option activity for the periods presented is as follows:


	Options Outstanding
				Weighted-
		Weighted-		Average	Aggregate
	Number of	Average		Remaining	Intrinsic
	Stock Options	Exercise		Contractual	Value
	Outstanding	Price		Life (Years)	(in thousands)
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
Cancelled	(646,013)		7.40
Balance as of December 31, 2013	6,468,743		4.96	6.7		8,991
Granted	6,086,984		2.43
Exercised	(593,173)		2.00
Cancelled	(1,481,663)		6.75
Balance as of December 31, 2014	10,480,891		3.25	7.4		1,073
Granted	4,069,813		1.84
Exercised	(1,126,788)		1.30
Cancelled	(2,111,698)		3.82
Balance as of December 31, 2015	11,312,218	$	2.83	8.0	$	2,450
Exercisable as of December 31, 2015	4,612,219	$	3.55	—	$	—
Vested and expected to vest as of December 31, 2015	9,839,708	$	2.83	—	$	—

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	Weighted-Average Grant
	Outstanding	Date Fair Value
Balance as of December 31, 2012	254,863	$	6.45
Granted	847,750		8.13
Vested	(74,985)		—
Forfeited	(143,527)		8.56
Balance as of December 31, 2013	884,101		7.69
Granted	1,485,488		2.75
Vested	(285,270)		—
Forfeited	(466,768)		5.83
Balance as of December 31, 2014	1,617,551		3.79
Granted	40,000		1.66
Vested	(917,926)		—
Forfeited	(375,783)		4.55
Balance as of December 31, 2015	363,842	$	4.72
Vested and expected to vest as of December 31, 2015	265,932

Schedule of grants made by the entity

The following table presents details on grants made by the Company for the following periods:


	Years Ended			Years Ended
	December 31, 2015			December 31, 2014
		Weighted-			Weighted-
		Average Grant			Average Grant
	Shares Granted	Date Fair Value		Shares Granted	Date Fair Value
Stock options	4,069,813	$	1.84	6,086,984	$	1.34
RSUs	40,000	$	1.66	1,485,488	$	2.75

Schedule of reserved shares of common stock

As of December 31, 2015 and December 31, 2014, the Company had reserved shares of common stock for issuance as follows:


	As of December 31, 2015	As of December 31, 2014
Number of stock options outstanding	11,312,218	10,480,891
Number of RSUs outstanding	258,878	897,231
Shares available for future grant	2,960,442	1,672,794
Number of warrants outstanding	—	90,000
Total shares reserved	14,531,538	13,140,916

Schedule of stock-based compensation expense, net of estimated forfeitures

The Company recognized stock-based compensation expense for awards granted to its employees and nonemployees as follows (in thousands):


				Years Ended
				December 31,
	2015		2014		2013
Cost of revenue	$	1,114	$	1,315	$	1,453
Research and development		1,668		1,234		1,301
Sales and marketing		651		1,470		1,175
General and administrative		2,240		2,002		1,554
Total stock-based compensation	$	5,673	$	6,021	$	5,483

Schedule of stock-based compensation expense, net of estimated forfeitures, by grant type

The following table presents stock-based compensation expense, net of estimated forfeitures, by grant type (in thousands):


	December 31,
	2015		2014		2013
Stock options	$	4,283	$	3,631	$	3,906
Restricted stock awards and restricted stock units (RSUs)		1,390		2,390		1,577
Total stock-based compensation	$	5,673	$	6,021	$	5,483

Schedule of unrecognized compensation expense, net of forfeitures, expected to be recognized over the weighted-average periods

The following table presents unrecognized compensation expense, net of estimated forfeitures, related to the Company’s equity compensation plans as of December 31, 2015, which is expected to be recognized over the following weighted-average periods, (in thousands, except for weighted-average period):


	Unrecognized		Weighted-
	Compensation		Average Period
	Expense		(in years)
Stock options	$	5,632	2.7
RSUs	$	665	1.9

Summary of stock option information by exercise price

Additional information regarding options outstanding as of December 31, 2015, is as follows:


	Options Outstanding				Options Exercisable
		Weighted-Average
		Remaining	Weighted-Average			Weighted-Average
	Options	Contractual	Exercise Price			Exercise Price
Range of Exercise Prices	Outstanding	Life (Years)	per Share		Exercisable	per Share
$0.00 to $1.50	86,225	0.81	$	1.37	86,225		1.37
$1.51 to $3.00	9,371,294	8.47		2.08	3,136,714		2.14
$3.01 to $4.50	298,790	6.81		3.77	170,688		3.70
$4.51 to $6.00	342,493	7.82		5.56	201,800		5.55
$6.01 to $7.50	619,191	4.94		6.30	550,267		6.30
$7.51 to $9.00	394,028	6.49		8.71	291,491		8.70
$9.01 to $10.50	167,697	6.14		9.61	142,534		9.63
$10.51 to $12.00	32,500	5.65		11.96	32,500		11.96
	11,312,218	8.04	$	2.83	4,612,219	$	3.55

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:


			December 31,
	2015		2014		2013
Expected term (in years)	5.9		5.9		6.0
Risk-free interest rate	1.6	%	1.8	%	1.4	%
Expected volatility	50	%	56	%	59	%
Expected dividend rate	—	%	—	%	—	%