Stock-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2015

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Summary of Assumptions for Estimating Fair Value of Stock Options

The following table summarizes the assumptions used for estimating the fair value of stock options granted during the three months ended March 31, 2015:

	2015
Risk-free interest rate	1.95 - 2.13%
Expected term (years)	6.04
Expected volatility	42.24 - 46.51%
Dividend yield	0%
Weighted-average grant date fair value per share	$8.78

Summary of Option Activity

The following is a summary of option activity during the three months ended March 31, 2015:

	Number of Options		Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Term	Aggregate Intrinsic Value
					(in years)	(in thousands)
Outstanding at January 1, 2015	10,371,472		$	4.59
Granted	251,021		$	19.73
Exercised	(367,421	)	$	1.00
Forfeited	(136,444	)	$	3.55
Expired	(13,451	)	$	0.65
Outstanding at March 31, 2015	10,105,177		$	5.11	8.27	$	165,086
Exercisable at March 31, 2015	3,279,655		$	0.82	7.23	$	67,902
Vested or expected to vest as of March 31, 2015	9,440,461		$	4.87	8.36	$	157,175

Schedule of Stock-based Compensation Expense

Stock-based compensation expense was attributed to the following line items in our accompanying unaudited condensed consolidated statements of operations for the three months ended March 31, (in thousands):

	2015		2014
Sales and marketing	$	575	$	46
Technology and analytics	436		49
Processing and servicing	147		19
General and administrative	884		119
Total	$	2,042	$	233