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Stock Based Awards (Tables)
6 Months Ended
Jun. 30, 2013
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Summary of Assumptions to Apply Black-Scholes Option-Pricing Model

The Company used the following assumptions to apply the Black-Scholes option-pricing model:

 

     Three Months Ended June 30,    Six Months Ended June 30,
               2012                         2013               2012    2013

Expected dividend yield

   0.00%    0.00%    0.00%    0.00%

Risk-free interest rate

   0.77%    0.89%    0.77% - 0.87%    0.87% - 0.89%

Expected term (in years)

   5.56 - 6.25    6.25    5.56 - 6.25    6.25

Volatility

   55%    55%    55% - 60%    55%
Summary of Stock Option Activity

The following table summarizes stock option activity, including performance-based options:

 

     Number
of shares
    Weighted
Average
Exercise
Price
     Weighted
Average
Remaining
Contractual
Term (Years)
     Aggregate
Intrinsic Value
 

Outstanding at January 1, 2013

     2,941,098      $ 25.90         7.2       $ 14,173,945   
          

 

 

 

Granted

     180,375        21.97         

Exercised

     (61,371 )     4.32          $ 945,134   
          

 

 

 

Forfeited

     (113,495 )     33.69         
  

 

 

   

 

 

       

Outstanding at June 30, 2013

     2,946,607      $ 25.84         6.9       $ 15,785,517   
  

 

 

   

 

 

    

 

 

    

 

 

 

Exercisable at December 31, 2012

     1,361,728      $ 17.16         5.6       $ 13,090,809   
  

 

 

   

 

 

    

 

 

    

 

 

 

Exercisable at June 30, 2013

     1,708,298      $ 21.31         5.9       $ 14,338,894   
  

 

 

   

 

 

    

 

 

    

 

 

 
Schedule of Restricted Stock Unit Activity

The following table summarizes restricted stock unit activity:

 

     Number of shares
Underlying Restricted
Stock Units
    Weighted Average
Grant Date

Fair Value
 

Unvested as of January 1, 2013

     782,805      $ 31.14   

Restricted stock units granted

     519,370        22.41   

Restricted stock units vested

     (148,766 )     33.12   

Restricted stock units forfeited

     (18,605 )     29.46   
  

 

 

   

 

 

 

Unvested as of June 30, 2013

     1,134,804      $ 26.91   
  

 

 

   

 

 

 
Schedule of Stock Based Compensation Allocated to Expense

The Company recognized stock based compensation expense within the accompanying condensed consolidated statements of operations as summarized in the following table:

 

     Three Months Ended June 30,      Six Months Ended June 30,  
     2012      2013      2012      2013  

Cost of revenue

   $ 107,789       $ 180,702       $ 214,970       $ 383,965   

Research and development

     574,452         1,044,848         1,156,167         2,061,654   

Sales and marketing

     900,724         2,145,877         1,850,669         4,226,797   

General and administrative

     1,505,606         1,745,657         2,851,201         3,609,339   
  

 

 

    

 

 

    

 

 

    

 

 

 
   $ 3,088,571       $ 5,117,084       $ 6,073,007       $ 10,281,755