Document_And_Entity_Informatio
Document And Entity Information (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Mar. 06, 2015 | Jun. 30, 2014 | |
Document and Entity Information [Abstract] | |||
Entity Registrant Name | ReachLocal Inc | ||
Document Type | 10-K | ||
Current Fiscal Year End Date | -19 | ||
Entity Common Stock, Shares Outstanding | 29,298,113 | ||
Entity Public Float | $94,387,740 | ||
Amendment Flag | FALSE | ||
Entity Central Index Key | 1297336 | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Filer Category | Accelerated Filer | ||
Entity Well-known Seasoned Issuer | No | ||
Document Period End Date | 31-Dec-14 | ||
Document Fiscal Year Focus | 2014 | ||
Document Fiscal Period Focus | FY |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Current Assets: | ||
Cash and cash equivalents | $43,720 | $77,514 |
Short-term investments | 904 | 260 |
Accounts receivable, net of allowance for doubtful accounts of $961 and $2,212 at December 31, 2014 and December 31, 2013, respectively | 7,844 | 9,699 |
Prepaid expenses and other current assets | 9,620 | 9,996 |
Assets of discontinued operations | 3,415 | |
Total current assets | 62,088 | 100,884 |
Property and equipment, net | 19,639 | 12,903 |
Capitalized software development costs, net | 21,555 | 17,300 |
Restricted deposits | 3,589 | 3,654 |
Intangible assets, net | 5,492 | 1,270 |
Non-marketable investments | 9,000 | 2,500 |
Other assets | 3,518 | 5,415 |
Goodwill | 48,189 | 42,083 |
Total assets | 173,070 | 186,009 |
Current Liabilities: | ||
Accounts payable | 44,874 | 36,970 |
Accrued compensation and benefits | 15,972 | 17,280 |
Deferred revenue | 29,016 | 33,013 |
Accrued restructuring | 3,196 | |
Capital lease | 624 | |
Other current liabilities | 12,316 | 15,089 |
Liabilities of discontinued operations | 850 | 1,324 |
Total current liabilities | 106,848 | 103,676 |
Capital lease | 1,103 | |
Deferred rent and other liabilities | 12,195 | 3,965 |
Total liabilities | 120,146 | 107,641 |
Commitments and contingencies (Note 8) | ||
Stockholders’ Equity: | ||
Common stock, $0.00001 par value—140,000 shares authorized; 29,269 and 28,259 shares issued and outstanding at December 31, 2014 and December 31, 2013, respectively | 0 | |
Receivable from stockholder | -65 | -73 |
Additional paid-in capital | 132,080 | 111,934 |
Accumulated deficit | -74,569 | -29,559 |
Accumulated other comprehensive loss | -4,522 | -3,934 |
Total stockholders’ equity | 52,924 | 78,368 |
Total liabilities and stockholders’ equity | $173,070 | $186,009 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parentheticals) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, except Per Share data, unless otherwise specified | ||
Allowance for doubtful accounts (in Dollars) | $961 | $2,212 |
Common stock, par value (in Dollars per share) | $0.00 | $0.00 |
Common stock, shares authorized | 140,000 | 140,000 |
Common stock, shares issued | 29,269 | 28,259 |
Common stock, shares outstanding | 29,269 | 28,259 |
Consolidated_Statements_of_Ope
Consolidated Statements of Operations (USD $) | 12 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Revenue | $474,921 | $514,070 | $454,957 |
Cost of revenue | 252,721 | 256,450 | 226,482 |
Operating expenses: | |||
Selling and marketing | 182,720 | 182,854 | 164,168 |
Product and technology | 27,510 | 22,240 | 18,980 |
General and administrative | 52,155 | 46,362 | 40,378 |
Restructuring charges | 5,927 | ||
Total operating expenses | 268,312 | 251,456 | 223,526 |
Operating income (loss) | -46,112 | 6,164 | 4,949 |
Other income, net | 936 | 586 | 556 |
Income (loss) from continuing operations before income taxes | -45,176 | 6,750 | 5,505 |
Income tax provision | 484 | 3,699 | 1,340 |
Income (loss) from continuing operations | -45,660 | 3,051 | 4,165 |
Income (loss) from discontinued operations, net of income tax of $11, $3,036, and $186 for the years ended December 31, 2014, 2013, and 2012, respectively | 650 | -5,534 | -4,397 |
Net loss | ($45,010) | ($2,483) | ($232) |
Income (loss) from continuing operations (in Dollars per share) | ($1.60) | $0.11 | $0.15 |
Income (loss) from discontinued operations, net of income taxes (in Dollars per share) | $0.02 | ($0.20) | ($0.16) |
Net loss per share (in Dollars per share) | ($1.58) | ($0.09) | ($0.01) |
Income (loss) from continuing operations (in Dollars per share) | ($1.60) | $0.11 | $0.14 |
Income (loss) from discontinued operations, net of income taxes (in Dollars per share) | $0.02 | ($0.20) | ($0.15) |
Net loss per share (in Dollars per share) | ($1.58) | ($0.09) | ($0.01) |
Basic (in Shares) | 28,461 | 27,764 | 28,348 |
Diluted (in Shares) | 28,461 | 29,051 | 28,896 |
Consolidated_Statements_of_Ope1
Consolidated Statements of Operations (Parentheticals) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Gain on disposal, tax | $11 | $3,036 | $186 |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Loss (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Net loss | ($45,010) | ($2,483) | ($232) |
Other comprehensive loss: | |||
Foreign currency translation adjustments | -588 | -2,412 | -1,247 |
Comprehensive loss | ($45,598) | ($4,895) | ($1,479) |
Consolidated_Statements_of_Sto
Consolidated Statements of Stockholders' Equity (USD $) | 3 Months Ended | 12 Months Ended | 38 Months Ended | ||||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2014 | Dec. 31, 2011 |
Balance as of December 31 | $52,924 | $78,368 | $52,924 | $78,368 | $81,886 | $52,924 | $82,287 |
Balance as of December 31 (in Shares) | 29,269,000 | 28,259,000 | 29,269,000 | 28,259,000 | 29,269,000 | ||
Issuance of common stock related to stock-based compensation plans | 6,438 | 6,681 | 1,783 | ||||
Stock-based compensation | 13,777 | 12,332 | 9,805 | ||||
Common and restricted stock issued in business combinations | 126 | 455 | |||||
Common stock repurchase | -69 | -18,963 | -10,963 | 36,300 | |||
Common stock repurchase (in Shares) | 0 | 3,400,000 | |||||
Excess tax benefits from stock-based awards | 1,185 | ||||||
Net loss | -17,458 | -585 | -45,010 | -2,483 | -232 | ||
Foreign currency translation adjustments | -580 | -2,396 | -1,249 | ||||
Common Stock [Member] | |||||||
Balance as of December 31 (in Shares) | 29,269,000 | 28,259,000 | 29,269,000 | 28,259,000 | 28,154,000 | 29,269,000 | 28,552,000 |
Issuance of common stock related to stock-based compensation plans (in Shares) | 1,010,000 | 1,495,000 | 521,000 | ||||
Common and restricted stock issued in business combinations (in Shares) | 5,000 | 197,000 | |||||
Common stock repurchase (in Shares) | -1,395,000 | -1,116,000 | |||||
Receivables from Stockholder [Member] | |||||||
Balance as of December 31 | -65 | -73 | -65 | -73 | -89 | -65 | -87 |
Foreign currency translation adjustments | 8 | 16 | -2 | ||||
Additional Paid-in Capital [Member] | |||||||
Balance as of December 31 | 132,080 | 111,934 | 132,080 | 111,934 | 110,573 | 132,080 | 109,493 |
Issuance of common stock related to stock-based compensation plans | 6,438 | 6,681 | 1,783 | ||||
Stock-based compensation | 13,777 | 12,332 | 9,805 | ||||
Common and restricted stock issued in business combinations | 126 | 455 | |||||
Common stock repurchase | -69 | -18,963 | -10,963 | ||||
Excess tax benefits from stock-based awards | 1,185 | ||||||
Retained Earnings [Member] | |||||||
Balance as of December 31 | -74,569 | -29,559 | -74,569 | -29,559 | -27,076 | -74,569 | -26,844 |
Net loss | -45,010 | -2,483 | -232 | ||||
Accumulated Other Comprehensive Income (Loss) [Member] | |||||||
Balance as of December 31 | -4,522 | -3,934 | -4,522 | -3,934 | -1,522 | -4,522 | -275 |
Foreign currency translation adjustments | ($588) | ($2,412) | ($1,247) |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Cash flows from operating activities: | |||
Income (loss) from continuing operations | ($45,660) | $3,051 | $4,165 |
Adjustments to reconcile income (loss) from continuing operations, net of income taxes, to net cash provided by (used in) operating activities: | |||
Depreciation and amortization | 17,394 | 15,096 | 13,602 |
Stock-based compensation | 13,260 | 11,505 | 9,469 |
Restructuring charges | 5,927 | ||
Excess tax benefits from stock-based awards | -1,185 | ||
Provision for doubtful accounts | 1,649 | 2,304 | 13 |
Contingent consideration—fair value adjustment | -416 | ||
Non-cash interest expense | 17 | ||
Impairment of loan to franchisee | 3,279 | ||
Deferred taxes, net | 873 | -3,500 | 212 |
Accounts receivable | -460 | -6,317 | -1,396 |
Prepaid expenses and other current assets | 701 | 121 | 360 |
Other assets | -669 | -1,175 | -118 |
Accounts payable | 9,081 | 2,906 | 5,080 |
Accrued compensation and benefits | -557 | 3,292 | 4,505 |
Deferred revenue | -3,400 | -255 | 5,033 |
Accrued restructuring | -2,564 | ||
Deferred rent and other liabilities | 3,421 | 1,565 | 5,679 |
Net cash provided by (used in) operating activities, continuing operations | -1,403 | 30,687 | 46,604 |
Net cash used in operating activities, discontinued operations | -915 | -4,001 | -4,261 |
Net cash provided by (used in) operating activities | -2,318 | 26,686 | 42,343 |
Cash flows from investing activities: | |||
Additions to property, equipment and software | -25,735 | -19,748 | -15,013 |
Acquisitions, net of acquired cash | -7,089 | -363 | -3,976 |
Loan to franchisee | -1,221 | -1,863 | |
Investments in non-marketable investments | -2,000 | -2,500 | |
Purchases of certificates of deposits and short-term investments | -474 | -2,578 | -9,069 |
Maturities of certificates of deposits and short-term investments | 2,561 | 6,646 | |
Net cash used in investing activities, continuing operations | -35,298 | -23,849 | -23,275 |
Net cash used in investing activities, discontinued operations | -3,180 | -1,323 | |
Net cash used in investing activities | -35,298 | -27,029 | -24,598 |
Cash flows from financing activities: | |||
Proceeds from exercise of stock options | 6,438 | 6,681 | 1,783 |
Excess tax benefits from stock-based awards | 1,185 | ||
Common stock repurchases | -69 | -18,963 | -10,963 |
Principal payments on capital lease obligations | -259 | ||
Net cash provided by (used in) financing activities | 6,110 | -11,097 | -9,180 |
Effect of exchange rate changes on cash and cash equivalents | -2,288 | -3,366 | -770 |
Net change in cash and cash equivalents | -33,794 | -14,806 | 7,795 |
Cash and cash equivalents—beginning of year | 77,514 | 92,320 | 84,525 |
Cash and cash equivalents—end of year | $43,720 | $77,514 | $92,320 |
Note_1_Organization_and_Descri
Note 1 - Organization and Description of Business | 12 Months Ended |
Dec. 31, 2014 | |
Disclosure Text Block [Abstract] | |
Nature of Operations [Text Block] | 1. Organization and Description of Business |
ReachLocal, Inc. (the “Company”) operations are located in the United States, Canada, Australia, New Zealand, Japan, the United Kingdom, Germany, the Netherlands, Austria, Brazil, Mexico, and India. The Company’s mission is to provide more customers to local businesses around the world. The Company offers online marketing products and solutions in three categories: software (ReachEdge™ and Kickserv™), web presence (including ReachSite + ReachEdge™, ReachSEO™, and ReachCast™), and digital advertising (including ReachSearch™, ReachDisplay™, ReachRetargeting™ and TotalLiveChat™). The Company delivers its suite of products and solutions to local businesses through a combination of its proprietary technology platform, its direct inside and outside sales force, and select third-party agencies and resellers. |
Note_2_Summary_of_Significant_
Note 2 - Summary of Significant Accounting Policies | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Accounting Policies [Abstract] | |||||||||||||
Significant Accounting Policies [Text Block] | 2. Summary of Significant Accounting Policies | ||||||||||||
Principles of Consolidation and Basis of Presentation | |||||||||||||
The consolidated financial statements include the accounts of ReachLocal, Inc. and its wholly owned subsidiaries. The Company's consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”). All significant intercompany accounts and transactions have been eliminated in consolidation. | |||||||||||||
Use of Estimates | |||||||||||||
The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting periods. Actual results may differ from those estimates. | |||||||||||||
Reclassifications and Adjustments | |||||||||||||
Certain prior period amounts have been reclassified to conform to the current period presentation and certain adjustments related to prior reporting periods totaling $0.3 million have been recorded in other income, net, in the year ended December 31, 2014. | |||||||||||||
Foreign Currency Translation | |||||||||||||
The Company’s operations are conducted in several countries around the world, and the financial statements of its foreign subsidiaries are reported in the applicable foreign currencies (functional currencies). Financial information is translated from the applicable functional currency to the U.S. dollar, the reporting currency, for inclusion in the Company’s consolidated financial statements. Revenue and expenses are translated at average exchange rates prevailing during the period, and assets and liabilities are translated at exchange rates in effect at the balance sheet date. Resulting translation adjustments are included as a component of accumulated other comprehensive income (loss), net in stockholders’ equity. Foreign currency translation adjustments are generally not adjusted for income taxes as they are primarily related to indefinite investments in foreign subsidiaries. Foreign exchange transaction gains and losses are included in other income (expense), net in the accompanying consolidated statements of operations. Exchange gains and losses on intercompany balances that are considered permanently invested are also included as a component of accumulated other comprehensive loss in stockholders’ equity. | |||||||||||||
Cash and Cash Equivalents | |||||||||||||
The Company reports all highly liquid short-term investments with original maturities of three months or less at the time of purchase as cash equivalents. As of December 31, 2014 and 2013, cash equivalents consist of demand deposits and money market accounts. Cash equivalents are stated at cost, which approximates fair value. | |||||||||||||
Due to the Company’s overall operating performance and capital expenditures, the Company’s cash balances at December 31, 2014, decreased approximately $33.8 million from December 31, 2013. At December 31, 2014, the Company’s current liabilities exceeded current assets by approximately $44.8 million. The Company’s management has taken and will continue to take steps to reduce expenses and improve the Company’s financial position and operating results. Management believes that available cash and anticipated cost reductions will together be sufficient to satisfy the Company’s operating activities, working capital and planned investing and financing activities for at least the next 12 months. | |||||||||||||
Short-Term Investments | |||||||||||||
The Company classifies investments as short-term when the original maturity is less than one year, or when the Company intends to sell the investment within one year. As of December 31, 2014 and 2013, short-term investments consisted of certificates of deposit. All of the short-term investments are classified as available-for-sale. Short-term investments are stated at cost, which approximates fair value. | |||||||||||||
Accounts Receivable | |||||||||||||
The Company performs ongoing credit evaluations of its customers and adjusts credit limits based upon payment history, the customer’s creditworthiness and various other factors, as determined by its review of their credit information. The Company monitors collections and payments from its customers and maintains an allowance for estimated credit losses based upon its historical experience and any customer-specific collection issues that it has identified. | |||||||||||||
Concentrations of Credit Risk | |||||||||||||
Financial instruments that potentially subject the Company to concentration of credit risk consist primarily of cash and cash equivalents, restricted cash, short-term investments and accounts receivable. Cash and cash equivalents and certificates of deposit are deposited with a limited number of financial institutions in the United States, Canada, Australia, United Kingdom, India, the Netherlands, Germany, Japan and Brazil. The balances held at any one financial institution are generally in excess of Federal Deposit Insurance Corporation insurance limits or, in foreign territories, local insurance limits, and as a result, access to the Company’s cash and cash equivalents may be impacted by adverse conditions in the global financial markets, including fluctuations in currency exchange rates. As of December 31, 2014, domestic bank balances in excess of insured limits were $21.5 million and foreign bank balances in excess of insured limits were $22.9 million. | |||||||||||||
The Company’s customers are primarily local businesses, dispersed both geographically and across a broad range of industries. Management performs ongoing evaluation of trade receivables for collectability and provides an allowance for potentially uncollectible accounts. The following table summarizes the change in the Company’s allowance for doubtful accounts for each of the three years ended December 31, 2014, 2013 and 2012 (in thousands): | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Allowance for doubtful accounts as of the beginning of the year | $ | 2,212 | $ | 259 | $ | 363 | |||||||
Additions charged to expense | 2,621 | 6,080 | 483 | ||||||||||
Write-offs | (4,511 | ) | (4,396 | ) | (791 | ) | |||||||
Recoveries | 639 | 268 | 205 | ||||||||||
Allowance for doubtful accounts as of the end of the year | $ | 961 | $ | 2,212 | $ | 259 | |||||||
As of December 31, 2014, one client comprised 11% of the consolidated accounts receivable balance. As of December 31, 2013, a receivable from OxataSMB accounted for 13% of the total accounts receivable balance, which has been fully reserved. For the years ended December 31, 2014, 2013, and 2012, the Company did not have any individual clients that comprised more than 10% of consolidated revenues. | |||||||||||||
During 2014, 2013, and 2012, the Company’s cost of revenue was primarily for the purchase of media from two of our vendors. Other receivables and prepaid expenses included $0.6 million and $5.5 million of non-trade receivables from media vendors at December 31, 2014 and 2013, respectively. Accounts payable included $17.1 million and $21.2 million of accrued media expenses from media vendors at December 31, 2014 and 2013, respectively. | |||||||||||||
Property and Equipment | |||||||||||||
Property and equipment are stated at historical cost less accumulated depreciation and amortization. Depreciation is computed using the straight-line method over the estimated useful lives of the assets, which is generally three years for computer hardware and software, five years for office equipment, and seven years for furniture and fixtures. Leasehold improvements are amortized using the straight-line method over the lesser of the useful life or the lease term. Upon retirement or sale, the cost of assets disposed of and the related accumulated depreciation are eliminated from the accounts and any resulting gain or loss is credited or charged to operations. Repairs and maintenance costs are expensed as incurred. | |||||||||||||
Software Development Costs | |||||||||||||
Costs to develop software for internal use are capitalized when the Company has determined that the development efforts will result in new or additional functionality or new products. Costs incurred prior to meeting these criteria and costs associated with ongoing maintenance are expensed as incurred and included in product and technology expenses, in addition to amortization of capitalized software development costs, in the accompanying consolidated statements of operations. The Company monitors its existing capitalized software costs and reduces its carrying value as the result of releases that render previous features or functions obsolete or otherwise reduce the value of previously capitalized costs. Costs capitalized as internal use software are amortized on a straight-line basis over an estimated useful life of three years. | |||||||||||||
Restricted Cash | |||||||||||||
Restricted cash represents certificates of deposit held at financial institutions, which are pledged as collateral for letters of credit related to lease commitments or collateral for the Company’s merchant accounts. The letters of credit will lapse at the end of the respective lease terms through 2024 and the certificates of deposit automatically renew for successive one-year periods over the duration of the lease term. The restrictions related to merchant accounts will lapse upon termination of the merchant accounts. As of December 31, 2014 and 2013, the Company had restricted certificates of deposit in the amounts of $3.4 million and $3.7 million, respectively. As of December 31, 2014, restricted cash also included $0.2 million of cash reserved to provide for potential liabilities for employee health care claims. The restricted cash is classified as restricted certificates of deposit in the accompanying consolidated balance sheets. | |||||||||||||
Loan Receivables | |||||||||||||
The Company records loan receivables at carrying value, net of potential allowance for losses. Losses on receivables are recorded when probable and estimable. Interest income on loan receivables is accrued on a monthly basis over the life of the loan, and interest recognition is suspended upon impairment of loan principal. | |||||||||||||
Investments in Third Parties | |||||||||||||
The Company accounts for investments in third parties under the cost method, which are periodically assessed for other-than-temporary impairment. The fair value of a cost method investment is not evaluated if there are no identified events or changes in circumstances that may have a significant adverse effect on the fair value of the investment. However, if a significant adverse event were identified, the Company would estimate the fair value of its cost method investment considering available information at the time of the event, such as current cash position, earnings and cash flow forecasts, recent operational performance and any other readily available data. If the Company determines that an other-than-temporary impairment has occurred, the investment is written-down to its fair value. | |||||||||||||
Variable Interest Entities | |||||||||||||
In accordance with Accounting Standards Codification (“ASC”) 810, Consolidations, the applicable accounting guidance for the consolidation of variable interest entities (“VIE”), the Company analyzes its interests, including agreements, loans, guarantees, and equity investments, on a periodic basis to determine if such interests are variable interests. If variable interests are identified, then the related entity is assessed to determine if it is a VIE. The Company’s analysis includes both quantitative and qualitative reviews. The Company bases its quantitative analysis on the forecasted cash flows of the entity, and its qualitative analysis on the design of the entity, its organizational structure including its decision-making authority, and relevant agreements. If the Company determines that the entity is a VIE, the Company then assesses if it must consolidate the VIE as its primary beneficiary. The Company’s determination of whether it is the primary beneficiary is based upon qualitative and quantitative analyses, which assess the purpose and design of the VIE, the nature of the VIE’s risks and the risks that the Company absorbs, the power to direct activities that most significantly impact the economic performance of the VIE, and the obligation to absorb losses or the right to receive benefits that could be significant to the VIE. | |||||||||||||
Finite-Lived Intangible Assets and Other Long-Lived Assets | |||||||||||||
Finite-lived intangible assets are attributable to the various developed technologies, trade names, and customer relationships of the businesses the Company has acquired. The Company reports finite-lived, acquisition-related intangible assets at acquisition date fair value, net of accumulated amortization. Finite-lived intangible assets are amortized on a straight-line basis over their estimated useful lives, ranging from three to ten years. Straight-line amortization is used as another pattern over which the economic benefits will be consumed cannot be reliably determined. The Company reviews the carrying values of long-lived assets, including intangible assets, for possible impairment whenever events or changes in circumstances indicate that the related carrying amount may not be recoverable. In its analysis of other finite lived amortizable intangible assets, the Company applies the guidance of ASC 350-20, Intangibles – Goodwill and Other, in determining whether any impairment conditions exist. An impairment review is performed whenever events or changes in circumstances indicate that the carrying value may not be recoverable. Recoverability of an intangible asset is measured by comparing its carrying amount to the expected future undiscounted cash flows that the asset is expected to generate, if it is determined that an asset is not recoverable. An impairment loss is recognized to the extent that the carrying amount exceeds the asset’s fair value. Long-lived assets to be disposed of are reported at the lower of carrying amount or estimated fair value less cost to sell. | |||||||||||||
At December 31, 2014 and 2013, there were no indications of impairment of the Company’s finite-lived intangible assets or other long-lived assets. | |||||||||||||
Goodwill | |||||||||||||
Goodwill represents the excess of the purchase price of the Company’s acquired businesses over the fair value of the net tangible and intangible assets acquired. The Company accounts for goodwill in accordance with ASC 350, Intangibles—Goodwill and Other, which addresses financial accounting and reporting requirements for acquired goodwill. ASC 350 prohibits the amortization of goodwill and requires the Company to test goodwill at the reporting unit level for impairment at least annually. | |||||||||||||
The Company tests the goodwill of its reporting units for impairment annually on the first day of the fourth quarter, and whenever events occur or circumstances change that would more likely than not indicate that the goodwill might be impaired. Events or circumstances which could trigger an impairment review include, but are not limited to, a significant adverse change in legal or business climate, an adverse action or assessment by a regulator, unanticipated competition, a loss of key management or other personnel, significant changes in the manner of the Company's use of the acquired assets or the strategy for the acquired business or the Company's overall business, significant negative industry or economic trends, or significant underperformance relative to expected historical or projected future results of operations. | |||||||||||||
Testing goodwill for impairment involves a two-step quantitative process. However, prior to performing the two-step quantitative goodwill impairment test, the Company has the option to first assess qualitative factors to determine whether or not it is necessary to perform the two-step quantitative goodwill impairment test for selected reporting units. If the Company chooses the qualitative option, the Company is not required to perform the two-step quantitative goodwill impairment test unless it has determined, based on the qualitative assessment, that it is more likely than not that the fair value of a reporting unit is less than its carrying amount. The first step of the impairment test involves comparing the estimated fair values of a reporting unit with its respective carrying amount, including goodwill. If the estimated fair value of a reporting unit exceeds its carrying amount, including goodwill, goodwill is considered not to be impaired and no additional steps are necessary. If, however, the estimated fair value of the reporting unit is less than its carrying amount, including goodwill, then the second step is performed to compare the carrying amount of the goodwill with its implied fair value, which is determined by deducting the aggregate fair value of the reporting unit's identifiable assets and liabilities from the fair value of the reporting unit. If the carrying amount of goodwill exceeds the implied fair value of that goodwill, an impairment loss is recognized in an amount equal to the excess. | |||||||||||||
The process of estimating the fair value of goodwill is subjective and requires the Company to make estimates that may significantly impact the outcome of the analyses. The estimated fair value for each reporting unit is determined using both an income-based valuation approach, as well as a market-based valuation approach. Under the income-based approach, each reporting unit’s fair value is estimated using the discounted cash flow method. The discounted cash flow method is dependent upon a number of factors, including projections of the amounts and timing of future revenues and cash flows, assumed discount rates determined to be commensurate with the risks inherent in its business model, and other assumptions. Under the market-based valuation approach, each reporting unit’s fair value is estimated based on industry multiples of revenues and operating earnings. The income-based approach is weighted between 50.0% and 66.7% depending on the amount and timing of projected operating earnings attributable to each reporting unit. | |||||||||||||
The Company operates in one reportable segment, in accordance with ASC 280, Segment Reporting, which is the basis that financial results are regularly reviewed by the Company's chief operating decision maker in deciding how to allocate resources and assess performance. The Company has identified its reporting units as North America, Asia Pacific, Latin America, and Europe. These reporting units each constitute a business or group of businesses for which discrete financial information is available and is regularly reviewed by each reporting unit’s management. The Company’s goodwill is comprised of balances in both the North America and Asia Pacific reporting units. | |||||||||||||
Self-Insurance | |||||||||||||
Beginning July 2, 2014, the Company implemented a self-insurance plan to provide for potential liabilities for employee health care claims in the United States. Liabilities associated with the risks are estimated, in part, by considering historical claims experience, demographic factors, severity factors, and other actuarial assumptions. The Company had insurance liabilities totaling approximately $0.5 million at December 31, 2014, which are included in accrued compensation and benefits in the accompanying consolidated balance sheets. | |||||||||||||
Leases | |||||||||||||
The Company leases various facilities under agreements accounted for as operating leases. For leases that contain escalation or rent concessions provisions, management recognizes rent expense during the lease term on a straight-line basis over the term of the lease. The difference between rent paid and straight-line rent expense is recorded as a deferred rent liability in the accompanying consolidated balance sheets. | |||||||||||||
Assets held under capital leases are recorded at the lower of the net present value of the minimum lease payments or at the fair value of the leased asset at the inception of the lease. Amortization expense is computed using the straight-line method over the shorter of the estimated useful life of the asset or the period of the related lease. Principal payments on capital lease obligations are recorded as reduction of capital lease liability in the accompanying consolidated balance sheets, and interest payments are recorded as interest expense which is included in other income, net in the accompanying consolidated statements of operations. | |||||||||||||
Revenue Recognition | |||||||||||||
The Company applies the provisions of ASC 605, Revenue Recognition, and recognizes revenue for its products and solutions when persuasive evidence of an arrangement exists, services have been performed, the selling price is fixed or determinable, and collectibility is reasonably assured. The Company recognizes revenue for search engine marketing as clicks are recorded on sponsored links on the various search engines and for its display advertising and retargeting when the display advertisements record impressions or as otherwise provided in its agreement with the applicable publisher. The Company recognizes revenue for lead conversion software, web presence and other products with a defined license or service period on a straight-line basis over the applicable license or service period. The Company recognizes revenue when it charges set-up, management service or other fees on a straight-line basis over the term of the related contract or the completion of any obligation for services, if shorter. The Company accounts for sales and similar taxes imposed on its services on a net basis in the consolidated statements of operations. | |||||||||||||
When the Company receives advance payments from clients, it records these amounts as deferred revenue until the revenue is recognized. From time to time, the Company offers incentives to clients in exchange for minimum commitments. In these circumstances, management estimates the amount of the incentives that will be earned by clients and adjusts the recognition of revenue to reflect such incentives. Estimates are either based upon a statistical analysis of previous campaigns for which such incentives were offered, or calculated on a straight-line basis over the life of the campaign. | |||||||||||||
When the Company sells through agencies, it either receives payment in advance of delivery of its products or solutions or in some cases extends credit. The Company pays each agency an agreed-upon commission based on the revenue it earns or cash it receives. Some agency clients who have been extended credit may offset the amount otherwise due to the Company by any commissions they have earned. Management evaluates whether it is appropriate to record the gross amount of campaign revenue or the net amount earned after commissions. As the Company is generally the primary party obligated in the arrangement, subject to the credit risk, with discretion over both price and media, management typically recognizes the gross amount of such sales as revenue and any commissions are recognized as a selling and marketing expense. | |||||||||||||
The Company also has a small number of resellers. Resellers integrate the Company’s products and solutions, including the Company’s branded search engine marketing, display advertising and online marketing analytics, into their product offerings. In most cases, the resellers integrate with the Company’s technology platform through a custom Application Programming Interface (API). Resellers are responsible for the price and specifications of the integrated product offered to their clients. Resellers pay the Company in arrears, net of commissions and other adjustments. Management recognizes revenue generated under reseller agreements net of the agreed-upon commissions and other adjustments earned or retained by the reseller, as management believes that the reseller has retained sufficient control and bears sufficient risks to be considered the primary obligor in those arrangements. | |||||||||||||
The Company distributes its products and solutions directly through its outside and inside sales force that is focused on serving local businesses in their local markets through a consultative process, which the Company refers to as its Direct Local channel. The Direct Local channel also includes revenue from licensing of the Company’s Kickserv software solution, which is marketed directly to local businesses over the Internet. In addition, the Company employs a separate sales channel targeting national brands, franchises and strategic accounts with operations in multiple local markets and select third-party agencies and resellers. The Company refers to this as its National Brands, Agencies and Resellers channel. | |||||||||||||
Cost of Revenue | |||||||||||||
Cost of revenue consists primarily of the costs of online media acquired from third-party publishers. Media cost is classified as cost of revenue in the period in which the corresponding revenue is recognized. From time to time, publishers offer the Company rebates based upon various factors and operating rules, including the amount of media purchased. Rebates are recorded in the period in which they are earned as a reduction to cost of revenue and the corresponding payable to the applicable publisher, or as an other receivable, as appropriate. Cost of revenue also includes the third-party telephone and information services costs, other third-party service provider costs, data center and third-party hosting costs, credit card processing fees, and other direct costs. | |||||||||||||
In addition, cost of revenue includes costs to manage and operate our various solutions and technology infrastructure, other than costs associated with our sales force, which are reflected as selling and marketing expenses. Cost of revenue includes salaries, benefits, bonuses and stock-based compensation for the related staff, and allocated overhead such as depreciation expense, rent and utilities. Cost of revenue also includes the amortization and impairment charges on certain acquired intangible assets. | |||||||||||||
Selling and Marketing Expenses | |||||||||||||
Selling and marketing expenses consist primarily of personnel and related expenses for selling and marketing staff, including salaries and wages, commissions and other variable compensation, benefits, bonuses and stock-based compensation; travel and business costs; training, recruitment, marketing and promotional events; advertising; other brand building and product marketing expenses; and occupancy, technology and other direct overhead costs. A portion of the compensation for employees in the sales organization is based on commissions. In addition, the cost of agency commissions is included in selling and marketing expenses. Generally, commissions are expensed as earned. However, commencing in 2014, the Company began paying commissions to certain sales people for the acquisition of new clients. Client contracts are generally not cancelable without a penalty, and the Company defers those commissions and amortizes them over the term of the initial customer campaign. Unamortized commission expense of $0.6 million at December 31, 2014, is included in prepaid expenses and other current assets in the accompanying consolidated balance sheet. | |||||||||||||
Product and Technology Expenses | |||||||||||||
Product and technology expenses consist primarily of personnel and related expenses for product development and engineering professionals, including salaries, benefits, bonuses and stock-based compensation, and the cost of third-party contractors and certain other third-party service providers and other expenses, including occupancy, technology and other direct overhead costs. Technology operations costs, including related personnel and third-party costs, are included in product and technology expenses. The Company capitalizes a portion of its software development costs and, accordingly, includes amortization of those costs as costs of product and technology, as our technology platform and the Company’s other systems address all aspects of the Company’s activities, including supporting the selling and consultation process, online publisher integration, efficiencies and optimization, providing insight to clients into the results and effects of their online advertising campaigns and supporting all of the financial and other back-office functions of the business. Product and technology expenses also include the amortization of the technology obtained in acquisitions and the expenses of deferred payment obligations related to product and technology personnel. Product and technology costs do not include the costs to operate and deliver our solutions to clients, which are included in cost of revenue in the consolidated statements of operations. | |||||||||||||
General and Administrative Expenses | |||||||||||||
General and administrative expenses consist primarily of personnel and related expenses for board, executive, legal, finance, human resources and corporate communications, including wages, benefits, bonuses and stock-based compensation, professional fees, insurance premiums, business taxes and other expenses, including occupancy, technology and other direct overhead, public company costs and other corporate expenses. | |||||||||||||
Restructuring Charges | |||||||||||||
The Company records costs associated with exit activities related to restructuring plans in accordance with the ASC Topic 420, Exit or Disposal Obligations. Liabilities for costs associated with an exit or disposal activity are recognized in the period in which the liability is incurred. Restructuring charges consist of costs associated with the realignment and reorganization of the Company’s operations. Restructuring charges include employee termination costs, facility closure and relocation costs, and contract termination costs. The timing of associated cash payments is dependent upon the type of exit cost and can extend over a 12-month period. The Company records restructuring charge liabilities in accrued restructuring in the consolidated balance sheet. | |||||||||||||
Advertising Expenses | |||||||||||||
The Company expenses advertising as incurred. Advertising expense was $2.9 million, $1.7 million and $1.1 million for the years ended December 31, 2014, 2013 and 2012, respectively, and was recorded in sales and marketing expense in the consolidated statements of operations. | |||||||||||||
Stock-Based Compensation | |||||||||||||
The Company accounts for stock-based compensation based on the fair market value of the equity award on the date of grant. The Company follows the attribution method, which reduces current stock-based compensation expenses recorded by the effect of anticipated forfeitures. Management estimates forfeitures based upon its historical experience. | |||||||||||||
The fair value of each award is estimated on the date of the grant and amortized over the requisite service period, which is the vesting period. The Company uses the Black-Scholes option pricing model to estimate the fair value of stock option awards on the date of grant. Determining the fair value of stock option awards at the grant date under this model requires judgment, including estimating volatility, expected term and the risk-free interest rate. The fair value of restricted stock and restricted stock unit awards is based on the closing market price of the Company's common stock on the date of grant. In addition, the Company uses a Monte Carlo simulation model to estimate the fair value of market-based performance-vesting restricted stock and restricted stock units. Determining the fair value of these awards at the grant date under this model requires judgment, including estimating volatility, risk-free rate and expected future stock price. The Company determines the probability of achievement of performance milestones for non-market based performance vesting restricted stock and restricted stock units, and recognize expense based on the fair value of the award if it is probable that the performance milestone will be achieved. The assumptions described above rely on management estimates based on judgment and subjective future expectations, which may result in stock-based compensation for future awards that differs significantly from the awards granted previously. | |||||||||||||
The fair value of modifications to stock-based awards is generally estimated using the Black-Scholes option pricing model. If a stock-based compensation award is modified after the grant date, incremental compensation expense is recognized in an amount equal to the excess of the fair value of the modified award over the fair value of the original award immediately before the modification. Incremental compensation expense for fully vested awards is recognized immediately. For unvested awards, the sum of the incremental compensation expense and the remaining unrecognized compensation expense for the original award on the modification date is recognized over the modified service period. | |||||||||||||
Income Taxes | |||||||||||||
The Company records income taxes using the asset and liability method which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been recognized in its financial statements or tax returns. In estimating future tax consequences, all expected future events other than enactments or changes in the tax law or rates are considered. Valuation allowances are provided when necessary to reduce deferred tax assets to the amount expected to be realized. | |||||||||||||
The Company records tax benefits for income tax positions only if it is “more-likely-than-not” to be sustained based solely on its technical merits as of the reporting date. Management considers many factors when evaluating and estimating tax positions and tax benefits, which may require periodic adjustments and which may differ from actual outcomes. The Company follows a comprehensive model for the financial statement recognition, measurement, presentation and disclosure of uncertain tax positions taken or expected to be taken in income tax returns. The Company’s policy is to recognize interest and penalties related to tax in income tax expense. | |||||||||||||
Recent Accounting Pronouncements | |||||||||||||
In February 2015, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2015-02, Consolidation. The amendments in this update require management to reevaluate whether certain legal entities should be consolidated. Specifically, the amendments (1) modify the evaluation of whether limited partnerships and similar legal entities are variable interest entities (VIEs) or voting interest entities, (2) eliminate the presumption that a general partner should consolidate a limited partnership, (3) affect the consolidation analysis of reporting entities that are involved with VIEs, particularly those that have fee arrangements and related party relationships, and (4) provide a scope exception from consolidation guidance for reporting entities with interests in legal entities that are required to comply with or operate in accordance with requirements that are similar to those in Rule 2a-7 of the Investment Company Act of 1940 for registered money market funds. The amendments in this update are effective for the Company as of January 1, 2016. Early adoption is permitted. The Company is currently assessing the impact of this update, and believes that its adoption on January 1, 2016 will not have a material impact on its consolidated financial statements. | |||||||||||||
In August 2014, the FASB issued ASU No. 2014-15, Presentation of Financial Statements – Going Concern. The amendments in this update require management to assess an entity’s ability to continue as a going concern by incorporating and expanding upon certain principles that are currently in U.S. auditing standards. Specifically, the amendments (1) provide a definition of the term substantial doubt, (2) require an evaluation every reporting period, including interim periods, (3) provide principles for considering the mitigating effect of management’s plans, (4) require certain disclosures when substantial doubt is alleviated as a result of consideration of management’s plans, (5) require an express statement and other disclosures when substantial doubt is not alleviated, and (6) require an assessment for a period of one year after the date that the financial statements are issued (or available to be issued). The amendments in this update are effective for the Company as of January 1, 2017. Early application is permitted. The adoption of this standard is not expected to have an impact on the Company’s consolidated financial condition and results of operations. | |||||||||||||
In June 2014, the FASB issued ASU No. 2014-12, Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period. The amendments in this update require that a performance target that affects vesting and that could be achieved after the requisite service period be treated as a performance condition. A reporting entity should apply existing guidance in Accounting Standards Codification (“ASC”) 718, Compensation – Stock Compensation, as it relates to awards with performance conditions that affect vesting to account for such awards. The amendments in this update will be effective for the Company as of January 1, 2016. Earlier adoption is permitted. Entities may apply the amendments in this update either: (a) prospectively to all awards granted or modified after the effective date; or (b) retrospectively to all awards with performance targets that are outstanding as of the beginning of the earliest annual period presented in the financial statements and to all new or modified awards thereafter. If retrospective transition is adopted, the cumulative effect of applying this update as of the beginning of the earliest annual period presented in the financial statements should be recognized as an adjustment to the opening retained earnings balance at that date. In addition, if retrospective transition is adopted, an entity may use hindsight in measuring and recognizing the compensation cost. The Company is currently assessing the impact of this update, and believes that its adoption on January 1, 2016 will not have a material impact on its consolidated financial statements. | |||||||||||||
In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers. The guidance in this update supersedes the revenue recognition requirements in ASC 605, Revenue Recognition, and most industry-specific guidance throughout the Codification. This update supersedes some cost guidance included in ASC 605-35, Revenue Recognition - Construction-Type and Production-Type Contracts. In addition, the existing requirements for the recognition of a gain or loss on the transfer of nonfinancial assets that are not in a contract with a customer (for example, assets within the scope of ASC 360, Property, Plant, and Equipment, and intangible assets, within the scope of ASC 350, Intangibles - Goodwill and Other) are amended to be consistent with the guidance on recognition and measurement in this update. The standard will be effective for the Company as of January 1, 2017. Earlier adoption is not permitted for public entities. An entity can apply the revenue standard retrospectively to each prior reporting period presented (full retrospective method) or retrospectively with the cumulative effect of initially applying the standard recognized at the date of initial application in retained earnings (simplified transition method). The Company is currently assessing the impact of this update on its consolidated financial statements. | |||||||||||||
In April 2014, the FASB issued ASU No. 2014-08, Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity. The amendments in this update change the criteria for determining which disposals can be presented as discontinued operations and modify related disclosure requirements. The guidance applies prospectively to new disposals and new classifications of disposal groups as held for sale after the effective date, and was effective for the Company as of January 1, 2015. The Company will apply this guidance to any new disposals or new classification as held for sale after the effective date. |
Note_3_Fair_Value_of_Financial
Note 3 - Fair Value of Financial Instruments | 12 Months Ended | ||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||
Fair Value Disclosures [Abstract] | |||||||||||||||||
Fair Value Disclosures [Text Block] | 3. Fair Value of Financial Instruments | ||||||||||||||||
The Company applies the fair value hierarchy for its financial assets and liabilities. Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value maximize the use of observable inputs and minimize the use of unobservable inputs. The fair value hierarchy is based on three levels of inputs, of which the first two are considered observable and the last is considered unobservable, that are used to measure fair value: | |||||||||||||||||
• | Level 1—Quoted prices in active markets for identical assets or liabilities. | ||||||||||||||||
• | Level 2—Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities, quoted prices in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. | ||||||||||||||||
• | Level 3—Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. | ||||||||||||||||
The following table summarizes the basis used to measure certain of the Company’s financial assets and liabilities that are carried at fair value (in thousands): | |||||||||||||||||
Basis of Fair Value Measurement | |||||||||||||||||
Balance at | Quoted Prices in Active Markets | Significant | Significant Unobservable | ||||||||||||||
December 31, | for Identical | Other | Inputs | ||||||||||||||
2014 | Items (Level 1) | Observable Inputs (Level 2) | (Level 3) | ||||||||||||||
Assets: | |||||||||||||||||
Cash and cash equivalents | $ | 43,720 | $ | 43,720 | $ | — | $ | — | |||||||||
Short-term investments | $ | 904 | $ | 904 | $ | — | $ | — | |||||||||
Restricted deposits | $ | 3,416 | $ | — | $ | 3,416 | $ | — | |||||||||
Liabilities: | |||||||||||||||||
Contingent consideration | $ | 349 | $ | — | $ | — | $ | 349 | |||||||||
Basis of Fair Value Measurement | |||||||||||||||||
Balance at | Quoted Prices in Active Markets for Identical | Significant | Significant Unobservable | ||||||||||||||
December 31, | Items | Other | Inputs | ||||||||||||||
2013 | (Level 1) | Observable Inputs (Level 2) | (Level 3) | ||||||||||||||
Cash and cash equivalents | $ | 77,514 | $ | 77,514 | $ | — | $ | — | |||||||||
Short-term investments | $ | 260 | $ | 260 | $ | — | $ | — | |||||||||
Restricted deposits | $ | 3,654 | $ | — | $ | 3,654 | $ | — | |||||||||
The following table provides a roll-forward of the fair value of recurring Level 3 fair value measurements for the year ended December 31, 2014 (in thousands): | |||||||||||||||||
Liabilities: | |||||||||||||||||
Contingent consideration: | |||||||||||||||||
Beginning balance | $ | — | |||||||||||||||
Issuance of contingent consideration in connection with acquisitions | 797 | ||||||||||||||||
Net change in fair value of contingent consideration included in other income | (448 | ) | |||||||||||||||
Ending balance | $ | 349 | |||||||||||||||
The Company did not have any Level 3 fair value measurements for the years ended December 31, 2013 and 2012. | |||||||||||||||||
The Company’s restricted deposits are valued using pricing sources and models utilizing market observable inputs, as provided to the Company by its broker. | |||||||||||||||||
The Company also has an investment in a privately held partnership that is one of its service providers. During March 2013, the Company invested $2.5 million for a 4% equity interest in the service provider, and in March 2014, the Company invested $2.0 million for an additional 3.2% equity interest. The Company does not have significant influence over the entity. In addition, the Company has an equity interest of 14.2% in the entity that acquired its former ClubLocal business and does not have significant influence over the entity. The carrying amounts of the Company’s cost method investments were each $4.5 million at December 31, 2014, and are included in non-marketable investments in the accompanying consolidated balance sheet. |
Note_4_Acquisitions
Note 4 - Acquisitions | 12 Months Ended | ||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||
Disclosure Text Block Supplement [Abstract] | |||||||||||||||||
Mergers, Acquisitions and Dispositions Disclosures [Text Block] | 4. Acquisitions | ||||||||||||||||
Acquisition of Kickserv | |||||||||||||||||
On November 21, 2014, the Company acquired Kickserv, Inc. (“Kickserv”) as part of the Company’s continued effort to expand its product offerings. Kickserv is a provider of cloud-based business management software for service businesses. | |||||||||||||||||
The purchase price consisted of $6.75 million of initial consideration, subject to a holdback and certain adjustments, and up to $4.0 million of earn-out consideration. At closing, the Company paid $5.3 million in cash with the remaining balance of the initial purchase price payable after the 18-month anniversary of the closing date, subject to certain conditions. The Company also issued 250,000 restricted stock units to the hired employees, which are accounted for as stock-based compensation over the period in which they are earned. A liability was not recorded for the earn-out consideration as the financial targets, as defined in the purchase agreement, are not expected to be achieved. Any changes in the fair value of the earn-out consideration will be recorded as other income or expense. There has been no change in the fair value since the date of acquisition. | |||||||||||||||||
The acquisition was accounted for using the acquisition method of accounting. The Company completed and finalized the purchase price allocation in the fourth quarter of 2014. The Company recorded assets acquired and liabilities assumed at their respective fair values. The following table summarizes the final fair value of assets acquired and liabilities assumed (in thousands): | |||||||||||||||||
Assets acquired: | |||||||||||||||||
Cash and cash equivalents | $ | 58 | |||||||||||||||
Intangible assets | 4,280 | ||||||||||||||||
Goodwill | 3,985 | ||||||||||||||||
Total assets acquired | 8,323 | ||||||||||||||||
Liabilities assumed: | |||||||||||||||||
Non-interest bearing liabilities | 24 | ||||||||||||||||
Long-term debt | 350 | ||||||||||||||||
Deferred tax liabilities | 1,249 | ||||||||||||||||
Total liabilities assumed | 1,623 | ||||||||||||||||
Total fair value of net assets acquired | $ | 6,700 | |||||||||||||||
Intangible assets acquired from Kickserv included software technology of $3.0 million, trade names of $0.6 million and customer relationships of $0.7 million, amortized over eight, ten, and four years, their respective estimated useful lives, using the straight-line method. The estimated useful life of the technology was determined based on assumptions of its remaining economic life. The estimated useful life of trade names was determined based on assumptions of revenue attributable to the trade name, and the estimated useful life of the customer relationships was determined based on assumptions of customer attrition rates. The fair value of the intangible assets were determined by applying the income approach and based on significant inputs that are not observable in the market. Key assumptions include estimated future revenues from acquired customers and a discount rate of 15%, comprised of an estimated internal rate of return for this transaction and a weighted average cost of capital for comparable companies. The goodwill arising from the acquisition consists largely of the synergies expected from combining the operations of Kickserv and the Company. The Company expects to grow Kickserv’s business as a result of this acquisition. The acquired goodwill is not expected to be deductible for tax purposes. | |||||||||||||||||
Acquisition costs in connection with the Kickserv acquisition were immaterial for the year ended December 31, 2014. The revenues and results of operations of the acquired businesses for the post-acquisition period were included in the consolidated statements of operations and were immaterial for the period ended December 31, 2014. The pro forma results are not shown as the impact is not material. | |||||||||||||||||
Acquisition of SureFire | |||||||||||||||||
On March 21, 2014, the Company acquired certain assets and hired certain employees of SureFire Search Limited (“SureFire”) as part of the Company’s international expansion plan. From 2010 until the acquisition, SureFire was the Company’s exclusive reseller in New Zealand. | |||||||||||||||||
At closing, the Company paid NZ$1.7 million ($1.5 million) in cash of the estimated NZ$2.8 million ($2.4 million) purchase price. The remaining balance of the estimated purchase price is deferred subject to meeting revenue targets and an indemnity holdback, which will be payable, if at all, after the 12-month anniversary of the closing date, and the 12- and 18-month anniversaries of the closing date, respectively. The maximum amount of contingent consideration payable is NZ$2.0 million ($1.6 million at December 31, 2014) and the fair value of the contingent consideration was recorded as an accrued expense. The fair value of the earn-out consideration under the income approach was determined by using the Black-Scholes option pricing model. This approach is based on significant inputs that are not observable in the market. Key assumptions include forecasted first year revenue, volatility of 30% based on volatilities of selected comparable companies, and a risk-free rate of 0.14% based on a one-year U.S, treasury yield rate. The fair value of the contingent consideration at the date of acquisition was NZ$0.9 million ($0.8 million), and upon revaluation at December 31, 2014 was NZ$0.4 million ($0.3 million at December 31, 2014). The change in fair value of $0.5 million upon revaluation during 2014 was recorded as other income during the year ended December 31, 2014. The contingent consideration will continue to be revalued on a quarterly basis, with any change in the valuation recorded as other income or expense. The liability for the indemnity holdback was recorded based on the assumption that there will be no claims made against the holdback and that 65% of the indemnity holdback will be paid March 2015, with the remaining 35% to be paid September 2015. The fair value of the indemnity holdback at the date of acquisition was NZ$0.4 million ($0.4 million). | |||||||||||||||||
The acquisition was accounted for using the acquisition method of accounting. The Company completed a preliminary purchase price allocation in the first quarter of 2014 and finalized the allocation in the third quarter of 2014. The Company recorded assets acquired and liabilities assumed at their respective fair values. The following table summarizes the final fair value of assets acquired and liabilities assumed (in thousands): | |||||||||||||||||
Assets acquired: | |||||||||||||||||
Intangible assets | $ | 1,280 | |||||||||||||||
Goodwill | 2,350 | ||||||||||||||||
Accounts receivable | 330 | ||||||||||||||||
Property and equipment | 13 | ||||||||||||||||
Total assets acquired | 3,973 | ||||||||||||||||
Liabilities assumed: | |||||||||||||||||
Accrued compensation and benefits | 111 | ||||||||||||||||
Deferred revenue | 284 | ||||||||||||||||
Deferred tax liabilities | 358 | ||||||||||||||||
Other | 782 | ||||||||||||||||
Total liabilities assumed | 1,535 | ||||||||||||||||
Total fair value of net assets acquired | $ | 2,438 | |||||||||||||||
Intangible assets acquired from SureFire included customer relationships of $1.3 million which are amortized over three years, their estimated useful life, using the straight line method. The estimated useful life was determined based on assumptions of customer attrition rates. The fair value of the intangible assets was determined by applying the income approach and based on significant inputs that are not observable in the market. Key assumptions include estimated future revenues from acquired customers and a discount rate of 25%, comprised of an estimated internal rate of return for this transaction and a weighted average cost of capital for comparable companies. The goodwill arising from the acquisition consists largely of the synergies expected from combining the operations of SureFire and the Company. The Company expects to increase its presence in New Zealand as a result of this acquisition. The acquired goodwill is not expected to be deductible for tax purposes. | |||||||||||||||||
Acquisition costs in connection with the SureFire acquisition were immaterial for the year ended December 31, 2014. The revenues and results of operations of the acquired businesses for the periods post-acquisition were included in the consolidated statements of operations and were immaterial for the period ended December 31, 2014. The pro forma results are not shown as the impact is not material. | |||||||||||||||||
Acquisition of RealPractice | |||||||||||||||||
On July 3, 2012, the Company acquired certain technology, advertisers and hired certain employees of RealPractice, Inc. (“RealPractice”). RealPractice’s technology became the foundation of the Company’s ReachEdge solution. At closing, the Company paid $2.6 million in cash of the estimated $2.9 million purchase price. The remaining amount of $0.3 million was paid in cash on January 6, 2014, the 18-month anniversary of the closing date. The Company also issued 150,292 restricted stock units to the hired employees, which are accounted for as stock-based compensation over the period in which they are earned. | |||||||||||||||||
The Company recorded acquired assets and liabilities at their respective fair values. The following table summarizes the fair value of assets acquired and liabilities (in thousands): | |||||||||||||||||
Assets acquired: | |||||||||||||||||
Intangible assets | $ | 2,550 | |||||||||||||||
Goodwill | 317 | ||||||||||||||||
Other | 53 | ||||||||||||||||
Total assets acquired | 2,920 | ||||||||||||||||
Liabilities assumed: | |||||||||||||||||
Deferred revenue | 20 | ||||||||||||||||
Total fair value of net assets acquired | $ | 2,900 | |||||||||||||||
Intangible assets acquired from RealPractice included customer relationships of $0.1 million and technology of $2.5 million, which are amortized over one and three years, their respective estimated useful lives, using the straight-line method. Acquisition costs in connection with the RealPractice acquisition were immaterial for the year ended December 30, 2012. | |||||||||||||||||
Goodwill | |||||||||||||||||
The changes in the carrying amount of goodwill for the twelve months ended December 31, 2014 were as follows (in thousands): | |||||||||||||||||
North America | Asia-Pacific | Total | |||||||||||||||
Balance at December 31, 2013 | $ | 9,695 | $ | 32,388 | $ | 42,083 | |||||||||||
Goodwill acquired | 3,985 | 2,445 | 6,430 | ||||||||||||||
Acquisition adjustments (1) | — | (95 | ) | (95 | ) | ||||||||||||
Foreign currency translation | — | (229 | ) | (229 | ) | ||||||||||||
Balance at December 31, 2014 | $ | 13,680 | $ | 34,509 | $ | 48,189 | |||||||||||
-1 | Represents adjustments to purchase accounting within a year of the acquisition. | ||||||||||||||||
For the year-ended December 31, 2013, the Company performed a qualitative assessment and determined that it was more likely than not that there was no impairment of goodwill. For the year-ended December 31, 2014, as a result of the decline in operating results, the Company did not perform a qualitative assessment to determine whether it is more likely than not that goodwill is impaired, and performed the quantitative assessment. The first step of the quantitative goodwill impairment test resulted in the determination that the estimated fair values of the Company’s North America reporting unit substantially exceeded its carrying amount, including goodwill. Accordingly, the second step was not required. | |||||||||||||||||
The first step of the goodwill impairment test for the Asia Pacific reporting unit reflected that the fair value of the Asia Pacific reporting unit exceeded its carrying amount by approximately 18%. The amount of goodwill assigned to the Asia Pacific reporting unit at December 31, 2014 was $34.5 million. The inputs for the fair value calculations of the reporting unit included a 3% growth rate to calculate the terminal value and a discount rate of 17%. In addition, the Company assumed revenue growth and applied margin and other cost assumptions consistent with the reporting unit's historical trends. Factors that have the potential to create variances in the estimated fair value of the Asia Pacific reporting unit include, but are not limited to, fluctuations in (i) number of clients and active campaigns, which can be driven by multiple external factors affecting demand, including macroeconomic factors, competitive dynamics and changes in consumer preferences; (ii) marketing costs to generate new campaigns; and (iii) equity valuations of peer companies. An increase of 100 basis points in the discount rate for the Asia Pacific reporting unit would have resulted in a decrease in the income approach valuation of the Asia Pacific reporting unit of $2.1 million. A decrease of 100 basis points in the terminal growth rate would have resulted in a decrease in the income approach valuation of the Asia Pacific reporting unit of $3.1 million. Neither a 100 basis point increase in the discount rate nor a 100 basis point decrease in the terminal growth rate would have caused the Asia Pacific reporting unit to fail the first step of the goodwill impairment test. | |||||||||||||||||
Finite-Lived Intangible Assets | |||||||||||||||||
At December 31, 2014 and 2013, finite-lived intangible assets consisted of the following (in thousands): | |||||||||||||||||
31-Dec-14 | |||||||||||||||||
Useful Life | Gross Value | Accumulated Amortization | Net | ||||||||||||||
(years) | |||||||||||||||||
Developed Technology | 8-Mar | $ | 5,490 | $ | 2,130 | $ | 3,360 | ||||||||||
Customer contracts and relationships | 4-Feb | 1,875 | 306 | 1,569 | |||||||||||||
Trade names | 10 | 570 | 7 | 563 | |||||||||||||
Total | $ | 7,935 | $ | 2,443 | $ | 5,492 | |||||||||||
31-Dec-13 | |||||||||||||||||
Useful Life | Gross Value | Accumulated Amortization | Net | ||||||||||||||
(years) | |||||||||||||||||
Developed Technology | 3 | $ | 3,060 | $ | 1,790 | $ | 1,270 | ||||||||||
Based on the current amount of intangibles subject to amortization, the estimated amortization expense over the remaining lives is as follows (in thousands): | |||||||||||||||||
Years Ending December 31, | |||||||||||||||||
2015 | $ | 1,422 | |||||||||||||||
2016 | 1,007 | ||||||||||||||||
2017 | 690 | ||||||||||||||||
2018 | 590 | ||||||||||||||||
2019 | 431 | ||||||||||||||||
Thereafter | 1,352 | ||||||||||||||||
Total | $ | 5,492 | |||||||||||||||
For the years ended December 31, 2014 and 2013 amortization expense related to the finite-lived intangible assets was $1.2 million. For the year ended December 31, 2012 amortization expense related to the finite-lived intangible assets was $2.2 million. |
Note_5_Property_and_Equipment
Note 5 - Property and Equipment | 12 Months Ended | ||||||||
Dec. 31, 2014 | |||||||||
Property, Plant and Equipment [Abstract] | |||||||||
Property, Plant and Equipment Disclosure [Text Block] | 5. Property and Equipment | ||||||||
Property and equipment consisted of the following (in thousands): | |||||||||
December 31, | |||||||||
2014 | 2013 | ||||||||
Computer hardware and licensed software | $ | 20,345 | $ | 16,558 | |||||
Office equipment | 4,229 | 1,981 | |||||||
Furniture and fixtures | 4,976 | 4,694 | |||||||
Leasehold improvements | 13,096 | 8,545 | |||||||
Construction in progress | 525 | 305 | |||||||
43,171 | 32,083 | ||||||||
Less: Accumulated depreciation and amortization | (23,532 | ) | (19,180 | ) | |||||
$ | 19,639 | $ | 12,903 | ||||||
Depreciation expense for property and equipment was $6.4 million, $5.8 million and $5.0 million for the years ended December 31, 2014, 2013 and 2012, respectively. |
Note_6_Software_Development_Co
Note 6 - Software Development Costs | 12 Months Ended | ||||||||
Dec. 31, 2014 | |||||||||
Research and Development [Abstract] | |||||||||
Research, Development, and Computer Software Disclosure [Text Block] | 6. Software Development Costs | ||||||||
Capitalized software development costs consisted of the following (in thousands): | |||||||||
December 31, | |||||||||
2014 | 2013 | ||||||||
Capitalized software development costs | $ | 56,498 | $ | 42,538 | |||||
Accumulated amortization | (34,943 | ) | (25,238 | ) | |||||
Capitalized software development costs, net | $ | 21,555 | $ | 17,300 | |||||
The Company recorded amortization expense of $9.7 million, $8.1 million and $6.4 million for the years ended December 31, 2014, 2013 and 2012, respectively. As of December 31, 2014 and 2013, $5.0 million and $2.8 million, respectively, of capitalized software development costs were related to projects still in process. |
Note_7_Variable_Interest_Entit
Note 7 - Variable Interest Entities | 12 Months Ended |
Dec. 31, 2014 | |
Variable Interest Entity [Abstract] | |
Variable Interest Entity [Text Block] | 7. Variable Interest Entities |
On July 6, 2012, the Company completed a transaction with OxataSMB, in which the Company entered into a franchise agreement with OxataSMB permitting OxataSMB to operate and resell the Company’s products and solutions under the ReachLocal brand in Slovakia, Czech Republic, Hungary, Poland and Russia. Pursuant to the franchise agreement, OxataSMB received access to our technology, platform, training, marketing and branding materials, media purchasing, campaign management and provisioning, sourcing of telephony, and technical support. The Company did not anticipate OxataSMB would pursue activities other than as a franchisee. In addition, the Company entered into a market development loan agreement with OxataSMB pursuant to which the Company agreed to provide financing to OxataSMB of up to €2.9 million ($3.7 million), of which €1.45 million ($1.9 million) was advanced in 2012. In August 2013, the Company advanced an additional €0.92 million ($1.2 million) to OxataSMB. Prior to advancement of the loan in 2012, OxataSMB had €1.45 million ($2.0 million) of contributed capital. | |
OxataSMB was considered a variable interest entity (VIE) with respect to the Company because, depending on its performance, OxataSMB may not have had sufficient equity to finance its activities without additional financial support. Based on the Company’s initial assessment in 2012, the Company was not the primary beneficiary of OxataSMB because it did not have: (1) the power to direct the activities that most significantly impact OxataSMB’s economic performance or (2) the obligation to absorb losses of OxataSMB or the right to receive benefits from OxataSMB that could potentially be significant. Therefore, the Company did not consolidate the results of OxataSMB, and transactions with OxataSMB results were accounted for similarly to the Company’s resellers. In December 2013, the Company reserved all amounts due from OxataSMB. | |
In October 2014, OxataSMB formally notified the Company that it has appointed an insolvency specialist to dissolve its businesses. As a result of this notification, the Company terminated the franchise agreement and demanded repayment in full of all amounts loaned to OxataSMB. |
Note_8_Commitments_and_Conting
Note 8 - Commitments and Contingencies | 12 Months Ended | ||||
Dec. 31, 2014 | |||||
Commitments and Contingencies Disclosure [Abstract] | |||||
Commitments and Contingencies Disclosure [Text Block] | 8. Commitments and Contingencies | ||||
Capital Leases | |||||
The Company has entered into non-cancelable capital leases for computer equipment. At December 31, 2014, the Company had $1.7 million of capital leases, net of accumulated amortization of $0.2 million, of which $0.6 million is recorded in short-term liabilities and $1.1 million is recorded in long-term liabilities. Amortization of assets recorded under capital leases is included in depreciation expense. The interest rates on these leases range from 4.8% to 5.2%. As of December 31, 2014, future minimum payments under these leases are as follows (in thousands): | |||||
Years Ended December 31, | |||||
2015 | $ | 693 | |||
2016 | 693 | ||||
2017 | 457 | ||||
Total minimum payments | 1,843 | ||||
Less amount representing interest | (116 | ) | |||
Present value of obligation | $ | 1,727 | |||
Operating Leases | |||||
The Company leases office facilities under operating lease agreements that expire at various dates through 2024. The terms of the majority of the Company’s lease agreements provide for rental payments on a graduated basis. The Company recognizes rent expense on a straight-line basis over the lease term. | |||||
Rental expense, principally for leased office space under operating lease commitments, was $13.0 million, $11.9 million and $11.4 million for the years ended December 31, 2014, 2013 and 2012, respectively. | |||||
As of December 31, 2014, future minimum payments under cancelable and non-cancelable operating leases are as follows (in thousands): | |||||
Years Ended December 31, | |||||
2015 | $ | 12,219 | |||
2016 | 9,863 | ||||
2017 | 7,368 | ||||
2018 | 6,276 | ||||
2019 | 5,245 | ||||
Thereafter | 14,748 | ||||
$ | 55,719 | ||||
During 2014, the Company recorded facilities restructuring charges related to lease termination costs as a result of closing facilities as part of a restructuring plan. Operating lease payments in the table above, include approximately $2.4 million of lease payments related to terminated or restructured leases, net of actual sublease income, for operating lease commitments for those facilities. Amounts related to the lease terminations will be paid over the respective lease terms, the longest of which extends through 2024. | |||||
Purchase Obligations | |||||
The Company has long-term purchase obligations outstanding with partners and third-party service providers for enhanced marketing functionality for our clients and for internal business software. As of December 31, 2014, future minimum payments under purchase obligations are as follows (in thousands): | |||||
Years Ended December 31, | |||||
2015 | $ | 5,346 | |||
2016 | 4,893 | ||||
2017 | 6,359 | ||||
2018 | 3,827 | ||||
$ | 20,425 | ||||
Other Liabilities | |||||
Other liabilities represent cash obligations recorded on our consolidated balance sheets, related to payments owed in connection with certain acquisitions. As of December 31, 2014, future minimum payments are as follows (in thousands): | |||||
Years Ended December 31, | |||||
2015 | $ | 3,251 | |||
2016 | 2,800 | ||||
$ | 6,051 | ||||
Letters of Credit and Restricted Certificates of Deposit | |||||
At December 31, 2014 and 2013, the Company has certificates of deposit held at financial institutions, which are pledged as collateral for letters of credit related to lease commitments or collateral for the Company’s merchant accounts. The letters of credit will lapse at the end of the respective lease terms through 2024 and the certificates of deposit automatically renew for successive one-year periods over the duration of the lease term. The restrictions related to merchant accounts will lapse upon termination of the merchant accounts. At December 31, 2014 and 2013, the Company had restricted certificates of deposit in the amounts of $3.4 million and $3.7 million, respectively. At December 31, 2014, restricted cash also included $0.2 million of cash reserved to provide for potential liabilities for employee health care claims. The restricted cash is classified as restricted certificates of deposit in the accompanying consolidated balance sheets. | |||||
Litigation | |||||
On May 2, 2014, a lawsuit, purporting to be a class action, was filed by one of the Company’s former clients in the United States District Court in Los Angeles. The complaint alleges breach of contract, breach of the implied covenant of good faith and fair dealing, and violation of California’s unfair competition law. The complaint seeks monetary damages, restitution and attorneys’ fees. The Company filed a motion to dismiss on June 20, 2014, which was denied on December 4, 2014. While the case is at an early stage, the Company believes that the case is substantively and procedurally without merit. The Company’s insurance carrier is providing the company with a defense under a reservation of rights. | |||||
From time to time, the Company is involved in legal proceedings arising in the ordinary course of our business. Over the past 18 months the Company has been involved in disputes with former customers in the United Kingdom, which allege that the Company was not fully transparent in its pricing. | |||||
The Company believes that there is no litigation pending that is likely to have a material adverse effect on its financial position, results of operations or cash flows. |
Note_9_Stockholders_Equity
Note 9 - Stockholders' Equity | 12 Months Ended | ||||
Dec. 31, 2014 | |||||
Stockholders' Equity Note [Abstract] | |||||
Stockholders' Equity Note Disclosure [Text Block] | 9. Stockholder’s Equity | ||||
Common Stock Repurchases | |||||
The Company’s Board of Directors has authorized the repurchase of up to $47.0 million of the Company’s outstanding common stock. At December 31, 2014, the Company had executed repurchases of 3.4 million shares of its common stock under the program for an aggregate of $36.3 million. There were no repurchases during the twelve months ended December 31, 2014. Purchases may be made from time-to-time in open market or privately negotiated transactions as determined by the Company’s management. The amount and timing of the share repurchase will depend on business and market conditions, stock price, trading restrictions, acquisition activity, and other factors. The share repurchase program does not obligate the Company to acquire any particular amount of common stock, and the repurchase program may be suspended or discontinued at any time at the Company’s discretion. | |||||
The Company is also deemed to repurchase common stock surrendered by participants to cover tax withholding obligations triggered by the vesting of restricted stock and restricted stock units. Repurchased common stock is retired, and the excess of the cost over the par value of the repurchased shares are recorded to additional paid-in capital. | |||||
Shares Reserved For Future Issuance | |||||
The following table shows the number of shares of common stock reserved for future issuance as of December 31, 2014 (in thousands): | |||||
Stock options | 9,348 | ||||
Restricted stock units | 570 | ||||
9,918 | |||||
Note_10_Stockbased_Compensatio
Note 10 - Stock-based Compensation | 12 Months Ended | ||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | 10. Stock-Based Compensation | ||||||||||||||||
Stock Option Plans | |||||||||||||||||
On April 21, 2004, the Company adopted the 2004 Stock Plan (the “2004 Plan”), as amended. Grants under the 2004 Plan may be incentive stock options or nonqualified stock options or awards. The 2004 Plan is administered by the Company’s board of directors, which has the authority to designate participants and determine the number and type of awards to be granted, the time at which awards are exercisable, the method of payment and any other terms or conditions of the awards. The vesting of these awards varies subject to the participant’s period of future service, or otherwise at the discretion of the Company’s board of directors. The majority of awards vest over four years and have a term of 10 years. There were no shares available for grant under the 2004 Plan as of December 31, 2014 and 2013. | |||||||||||||||||
On July 1, 2008, the Company adopted the 2008 Stock Incentive Plan (the “2008 Plan”) and retired the 2004 Plan. Options outstanding under the 2004 Plan are unaffected by the retirement of the 2004 Plan. The aggregate number of shares of the Company’s common stock available for issuance pursuant to awards granted under the 2008 Plan is equal to the sum of (x) 5,471,350 plus (y) any shares of the Company’s common stock subject to awards under the 2004 Plan that terminate, expire or lapse for any reason or are settled in cash after the date the 2008 Plan originally became effective, and (z) an annual increase in shares on the first day of each year beginning in 2011 and ending in 2018. The annual increase will be equal to the lesser of (A) 2,500,000 shares (as adjusted for stock splits, stock combinations, stock dividends and similar matters), (B) 4.5% of the Company’s common stock outstanding on the last day of the prior year or (C) such smaller number of shares as may be determined by the Board. The 2008 Plan is administered by the Company’s Compensation Committee, which has the authority to designate participants and determine the number and type of awards to be granted, the time at which awards are exercisable, the method of payment and any other terms or conditions of the awards. The vesting of these awards vary subject to the participant’s period of future service, or otherwise at the discretion of the Compensation Committee. The majority of awards issued under the 2008 Plan vest over four years and have a term of seven years. There were 1,935,000 shares available for grant under the 2008 Plan as of December 31, 2014. On January 1, 2015, an additional 1,317,000 shares were added to the pool under the evergreen provision. | |||||||||||||||||
During the second quarter of 2014, the Company granted stock options to certain new employees, including the chief executive officer, to purchase a total of 385,000 shares of common stock as “employment inducement” awards pursuant to NASDAQ rules. The inducement awards were not issued under the 2008 Plan and did not decrease the number of shares available thereunder, but are included in the table of stock options below. | |||||||||||||||||
Stock Options | |||||||||||||||||
The following table summarizes stock option activity (in thousands, except years and per share amounts): | |||||||||||||||||
Number of Shares | Weighted | Weighted | Aggregate | ||||||||||||||
Average | Average | Intrinsic | |||||||||||||||
Exercise | Remaining Contractual | Value | |||||||||||||||
Price per | Life (in | ||||||||||||||||
Share | years) | ||||||||||||||||
Outstanding at December 31, 2013 | 6,733 | $ | 11.44 | ||||||||||||||
Granted | 3,495 | $ | 7.79 | ||||||||||||||
Exercised | (718 | ) | $ | 8.96 | |||||||||||||
Forfeited | (3,414 | ) | $ | 11.71 | |||||||||||||
Outstanding at December 31, 2014 | 6,096 | $ | 9.48 | 5.6 | $ | 222 | |||||||||||
Vested and exercisable at December 31, 2014 | 2,609 | $ | 11.21 | 4.3 | $ | 178 | |||||||||||
Unvested at December 31, 2014, net of estimated forfeitures | 3,064 | $ | 8.34 | 6.6 | $ | 36 | |||||||||||
The assumptions utilized for purposes of the Black-Scholes pricing model are summarized as follows: | |||||||||||||||||
• | Volatility—As the Company has limited trading history for its common stock, the expected stock price volatility was estimated by taking a combination of 1) the median historic price volatility for industry peers based on daily price observations over a period equivalent to the expected term of the stock option grants and 2) the Company’s own historic price volatility based on daily price observations since May 2010. Industry peers consist of several public companies in the technology industry similar in size, stage of life cycle and financial leverage. Management did not rely on implied volatilities of traded options in its industry peers’ common stock because the volume of activity was relatively low. | ||||||||||||||||
• | Expected term—The expected term was estimated using the simplified method allowed under Securities and Exchange Commission Staff Accounting Bulletin No. 107, Share-Based Payment. Management uses this method because it has limited historical data to estimate future terms and it is unable to obtain objective, measurable and comparative historical data of comparable companies. | ||||||||||||||||
• | Risk free rate—The risk free interest rate is based on the yields of U.S. Treasury securities with maturities similar to the expected term of the options for each option group. | ||||||||||||||||
• | Dividend yield—The Company has never declared or paid any cash dividends and does not presently plan to pay cash dividends in the foreseeable future. Consequently, management used an expected dividend yield of zero. | ||||||||||||||||
In addition, management estimates the forfeiture rate based on its historical experience with forfeitures and reviews estimated forfeiture rates each period-end, and makes changes as factors affecting the forfeiture rate calculations and assumptions change. | |||||||||||||||||
The following table summarizes the weighted average assumptions used to estimate the fair value of stock options granted during the years ended December 31, 2014, 2013 and 2012. | |||||||||||||||||
Years Ended December 31, | |||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||
Expected dividend yield | 0 | % | 0 | % | 0 | % | |||||||||||
Risk-free interest rate | 1.64 | % | 0.95 | % | 0.74 | % | |||||||||||
Expected life (in years) | 4.99 | 4.81 | 4.86 | ||||||||||||||
Expected volatility | 54 | % | 59 | % | 60 | ||||||||||||
Weighted average fair value per share | $ | 3.63 | $ | 6.33 | $ | 6.1 | |||||||||||
The aggregate intrinsic value of stock options exercised during the years ended December 31, 2014, 2013 and 2012 were $2.7 million, $5.3 million and $1.9 million, respectively. The total grant-date fair value of stock options exercised and restricted stock and restricted stock units vested during the years ended December 31, 2014, 2013 and 2012 were $9.0 million, $4.2 million and $2.0 million, respectively. | |||||||||||||||||
Restricted Stock and Restricted Stock Units | |||||||||||||||||
The Company issues restricted stock and restricted stock units in conjunction with acquisitions and long-term employee incentive programs from time to time. These shares of restricted stock and restricted stock units generally have vesting periods of 4 years. Stock-based compensation expense related to restricted stock units was $5.6 million, $3.0 million and $1.7 million for the years ended December 31, 2014, 2013, and 2012, respectively. | |||||||||||||||||
The following table summarizes restricted stock and restricted stock unit awards (in thousands, except per share amounts): | |||||||||||||||||
Number of | Weighted | ||||||||||||||||
shares | Average Grant | ||||||||||||||||
Date Fair Value | |||||||||||||||||
Unvested at December 31, 2013 | 1,157 | $ | 9.44 | ||||||||||||||
Granted | 536 | $ | 5.26 | ||||||||||||||
Forfeited | (251 | ) | $ | 12.43 | |||||||||||||
Vested | (530 | ) | $ | 12.64 | |||||||||||||
Unvested at December 31, 2014 | 912 | $ | 5.98 | ||||||||||||||
Stock-Based Compensation Expense | |||||||||||||||||
The Company records stock-based compensation expense, net of amounts capitalized, as stock-based compensation in association with software development costs. The following table summarizes stock-based compensation (in thousands): | |||||||||||||||||
Years Ended December 31, | |||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||
Stock-based compensation | $ | 13,730 | $ | 11,948 | $ | 9,695 | |||||||||||
Less: Capitalized stock-based compensation | 470 | 443 | 226 | ||||||||||||||
Stock-based compensation expense, net | $ | 13,260 | $ | 11,505 | $ | 9,469 | |||||||||||
Stock-based compensation, net of capitalization, is included in the accompanying consolidated statements of operations, within the following captions (in thousands): | |||||||||||||||||
Years Ended December 31, | |||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||
Stock-based compensation expense, net | |||||||||||||||||
Cost of revenue | $ | 932 | $ | 697 | $ | 258 | |||||||||||
Selling and marketing | 2,959 | 3,040 | 1,756 | ||||||||||||||
Product and technology | 825 | 627 | 1,194 | ||||||||||||||
General and administrative | 8,544 | 7,141 | 6,261 | ||||||||||||||
$ | 13,260 | $ | 11,505 | $ | 9,469 | ||||||||||||
Stock-based compensation for the year ended December 31, 2014 includes $1.9 million of expense related to the modification of grants to 73 participants in March 2014, which extended the time to exercise from seven years to ten years for certain options granted during 2008 and 2009 with a strike price of $10.91. At December 31, 2014, there was $16.1 million of unrecognized stock-based compensation related to restricted stock, restricted stock units and outstanding stock options, net of estimated forfeitures. This amount is expected to be recognized over a weighted average period of 1.4 years. Future stock-based compensation expense for these awards may differ to the extent actual forfeitures varies from management estimates. | |||||||||||||||||
Stock Option Exchanges | |||||||||||||||||
On May 29, 2012, the Company commenced an offer to exchange options to purchase shares of its common stock with an exercise price equal to or greater than $10.91 per share or, for the Company’s executive officers subject to Section 16 of the Securities Exchange Act of 1934, as amended (“executive officers”), $16.71 per share, for replacement options to purchase a lesser number of shares of common stock having an exercise price equal to the fair market value of the Company’s common stock on the replacement grant date, or for replacement options issued to the Company’s executive officers, an exercise price equal to the greater of the fair market value of the Company’s common stock on the replacement grant date or $13 per share. | |||||||||||||||||
The stock option exchange closed on June 25, 2012. All exchanged options were cancelled at that time and immediately thereafter, the Company granted replacement options under the Amended and Restated ReachLocal 2008 Stock Incentive Plan. Employees other than executive officers received options covering an aggregate of 158,752 shares, each with an exercise price of $10.56, which was the closing price of the Company’s common stock on the NASDAQ Global Select Market on June 25, 2012, and executive officers received options covering an aggregate of 396,998 shares, each with an exercise price of $13.00. After cancelling exchanged options to purchase an aggregate of 834,875 shares and granting replacement options to purchase an aggregate of 555,750 shares, the Company’s total number of shares subject to outstanding stock options was reduced by 279,125 shares. | |||||||||||||||||
On December 2, 2014, the Company commenced an option exchange to permit employee option holders to surrender certain outstanding stock options for cancellation in exchange for the grant of new replacement options to purchase an equal number of shares having an exercise price equal to the greater of $6.00 and the fair market value of the Company’s common stock on the replacement grant date. The option exchange was completed on January 9, 2015. Exchanged options were cancelled at that time and immediately thereafter, the Company granted replacement options under the Amended and Restated ReachLocal 2008 Stock Incentive Plan with exercise prices of $6.00 per share. A total of 2.8 million options were exchanged. |
Note_11_Restructuring_Charges
Note 11 - Restructuring Charges | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Restructuring and Related Activities [Abstract] | |||||||||||||
Restructuring and Related Activities Disclosure [Text Block] | 11. Restructuring Charges | ||||||||||||
As a result of declining performance in the Company’s North American operations during the first quarter of 2014, the Company began implementing a restructuring plan to streamline operations and increase profitability. The restructuring plan primarily involved a reduction of the Company’s North America and international workforce as well as the closure of facilities in North America and certain international markets. The Company does not expect to have continued activity under this plan. | |||||||||||||
A summary of the accrued restructuring liability related to this plan, which is recorded in accrued restructuring on the consolidated balance sheet is as follows (in thousands): | |||||||||||||
Workforce Reduction Costs | Facility Closures | Total | |||||||||||
and Equipment | |||||||||||||
Write-downs | |||||||||||||
Balance at December 31, 2013 | $ | — | $ | — | $ | — | |||||||
Amounts accrued | 642 | 3,386 | 4,028 | ||||||||||
Amounts paid | (642 | ) | (700 | ) | (1,342 | ) | |||||||
Accretion | — | 24 | 24 | ||||||||||
Non-cash items | — | (191 | ) | (191 | ) | ||||||||
Balance at December 31, 2014 | $ | — | $ | 2,519 | $ | 2,519 | |||||||
The Company expects the facility closures and equipment write-downs to be paid through the third quarter of 2024. | |||||||||||||
During the second quarter of 2014, the Company began implementing a business restructuring plan to further streamline operations and increase profitability. The actions under this restructuring plan involved the elimination of certain senior management positions, a reduction of international workforce, as well as the closure of facilities in certain international markets. The Company does not expect to have continued activity under this plan. | |||||||||||||
A summary of the accrued restructuring liability related to this plan, which is recorded in accrued restructuring on the consolidated balance sheet is as follows (in thousands): | |||||||||||||
Workforce Reduction Costs | Facility Closures | Total | |||||||||||
Balance at December 31, 2013 | $ | — | $ | — | $ | — | |||||||
Amounts accrued | 1,199 | 700 | 1,899 | ||||||||||
Amounts paid | (1,027 | ) | (195 | ) | (1,222 | ) | |||||||
Balance at December 31, 2014 | $ | 173 | $ | 505 | $ | 677 | |||||||
The Company expects the workforce reduction costs to be paid through the first quarter of 2015 and expects the facility costs to be paid through the second quarter of 2016. |
Note_12_Income_Taxes
Note 12 - Income Taxes | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Income Tax Disclosure [Abstract] | |||||||||||||
Income Tax Disclosure [Text Block] | 12. Income Taxes | ||||||||||||
The components of income (loss) from continuing operations before income taxes were (in thousands): | |||||||||||||
Years Ended December 31, | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
United States | $ | (18,997 | ) | $ | 25,044 | $ | 16,679 | ||||||
Foreign | (26,179 | ) | (18,294 | ) | (11,174 | ) | |||||||
$ | (45,176 | ) | $ | 6,750 | $ | 5,505 | |||||||
The provision for income taxes for the years ended December 31, 2014, 2013 and 2012, consists primarily of federal, state and foreign income taxes payable in the various jurisdictions in which the Company operates. | |||||||||||||
Significant components of the provision for income taxes are as follows (in thousands): | |||||||||||||
Years Ended December 31, | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Current: | |||||||||||||
Federal | $ | (2,019 | ) | $ | 5,687 | $ | — | ||||||
State | 98 | 1,134 | 957 | ||||||||||
Foreign | 205 | 378 | 171 | ||||||||||
(1,716 | ) | 7,199 | 1,128 | ||||||||||
Deferred: | |||||||||||||
Federal | (422 | ) | (930 | ) | 6,704 | ||||||||
State | (1,383 | ) | (4,048 | ) | 1,097 | ||||||||
Foreign | (15,017 | ) | (8,884 | ) | (3,634 | ) | |||||||
(16,822 | ) | (13,862 | ) | 4,167 | |||||||||
Valuation allowance | 19,022 | 10,362 | (3,955 | ) | |||||||||
Income tax provision | $ | 484 | $ | 3,699 | $ | 1,340 | |||||||
Income taxes receivable as of December 31, 2014 amounted to $2.0 million and was classified within prepaid expenses and other current assets in the accompanying consolidated balance sheets. Income taxes payable at December 31, 2013 amounted to $0.9 million and are included in other current liabilities in the accompanying consolidated balance sheets. | |||||||||||||
The provision for income taxes differs from the amount computed by applying the federal statutory income tax rate to income before income taxes as follows (in thousands): | |||||||||||||
Years Ended December 31, | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Income tax expense (benefit) at the federal statutory rate | $ | (15,360 | ) | $ | 2,295 | $ | 1,792 | ||||||
State income tax, net of federal tax benefit | (848 | ) | (1,923 | ) | 1,356 | ||||||||
Foreign income taxes, net | (5,911 | ) | (3,841 | ) | 578 | ||||||||
Non-deductible stock-based compensation | 3,765 | 1,149 | 75 | ||||||||||
Research and development credits | (325 | ) | (2,629 | ) | — | ||||||||
Change in valuation allowance | 19,022 | 7,887 | (1,480 | ) | |||||||||
Deferred tax adjustments | — | 617 | — | ||||||||||
Other | 141 | 144 | (981 | ) | |||||||||
$ | 484 | $ | 3,699 | $ | 1,340 | ||||||||
The components of deferred income tax assets and liabilities are as follows (in thousands): | |||||||||||||
December 31, | |||||||||||||
2014 | 2013 | ||||||||||||
Deferred tax assets: | |||||||||||||
Accruals and provisions | $ | 5,710 | $ | 3,513 | |||||||||
Intangible assets | — | 382 | |||||||||||
State taxes | 33 | 309 | |||||||||||
Stock options | 3,640 | 4,396 | |||||||||||
Federal and state credits | 5,139 | 2,426 | |||||||||||
Net operating loss carryforward | 33,056 | 17,001 | |||||||||||
Gross deferred tax assets | 47,578 | 28,027 | |||||||||||
Less: valuation allowance | (35,796 | ) | (16,774 | ) | |||||||||
Net deferred tax assets | 11,782 | 11,253 | |||||||||||
Deferred tax liabilities: | |||||||||||||
Intangible assets | (1,362 | ) | — | ||||||||||
Capitalized software | (9,187 | ) | (7,066 | ) | |||||||||
Fixed assets | (1,893 | ) | (1,084 | ) | |||||||||
Net deferred tax asset (liabilities) | $ | (660 | ) | $ | 3,103 | ||||||||
In the accompanying consolidated balance sheet, the current portion of net deferred tax assets of $1.8 million and $1.2 million as of December 31, 2014 and 2013, respectively, is included in prepaid expenses and other current assets and the non-current portion of deferred tax assets of $1.9 million as of December 31, 2013 is included in other assets. The non-current portion of net deferred tax liabilities as of December 31, 2014 is included in deferred rent and other liabilities. | |||||||||||||
The following table summarizes the Company’s net operating loss carry-forwards as of December 31, 2013: | |||||||||||||
Net operating loss: | Balance at | Beginning Expiration Year | |||||||||||
December 31, | |||||||||||||
2014 | |||||||||||||
(in thousands) | |||||||||||||
Federal | $ | 6,191 | 2035 | ||||||||||
State | $ | 13,275 | Various jurisdictions from 2020 to 2030 | ||||||||||
Foreign | $ | 88,184 | Generally do not expire, but are subject to certain limitations | ||||||||||
The federal net operating loss and research and development credit carryforwards per the income tax returns filed included unrecognized tax benefits taken in prior years, and are larger than the net operating losses for which a deferred tax asset is recognized for financial statement purposes. Section 382 of the Internal Revenue Code imposes an annual limitation on the utilization of net operating loss carryforwards related to acquired corporations. The Company estimates that the 2014 limitation under Section 382 of the Internal Revenue Code is approximately $0.2 million. | |||||||||||||
At December 31, 2014, the Company had gross federal and state research and development credit carryforwards of approximately $5.2 million and $3.8 million, respectively. The federal carryovers begin to expire in 2029, while the state carryovers have an indefinite carryover period. At December, 31, 2014, the Company had $0.1 million of foreign tax credits carryovers, which begin to expire in 2023. At December 31, 2014, the Company also had gross California Enterprise Zone Credits of $1.3 million which begin to expire in 2024. | |||||||||||||
Certain deferred tax assets are not presented that arose directly from tax deductions related to equity compensation greater than the amount of compensation recognized for financial reporting. Equity will be increased by $2.1 million if and when such deferred tax assets are ultimately realized. | |||||||||||||
For the years ended December 31, 2014 and 2013, the Company recorded valuation allowances of $35.8 million and $16.8 million, respectively. The net increase in valuation allowance of $19.1 million was primarily due to net operating losses in foreign jurisdiction and the recording of a full valuation allowance against its domestic net deferred tax assets, excluding indefinite-lived assets. During the fourth quarter of 2014, the Company evaluated the need for a valuation allowance and in evaluating both positive and negative evidence, the Company has determined that the negative evidence was more persuasive, which lead the Company to record a full valuation allowance against its domestic net deferred tax assets, excluding indefinite lived assets in the amount of $4.3 million. The Company has concluded that a full valuation allowance is still warranted due to historic cumulative losses in certain foreign jurisdictions, with respect to foreign deferred tax assets. | |||||||||||||
In 2013, the net valuation allowance increased by $7.9 million primarily due to deferred tax assets associated with net operating losses in foreign jurisdictions, offset by the release of the valuation allowance associated with U.S. net deferred tax assets. | |||||||||||||
The value of the Company’s investments in foreign subsidiaries exceeds our tax basis in those subsidiaries by $0.8 million. However, the deferred income taxes on the associated gain have not been recognized as gains become taxable upon a repatriation of assets from the subsidiary or a sale or liquidation of the subsidiary and these amounts are expected to be reinvested indefinitely outside of the U.S. Determination of the amount of any unrecognized deferred income tax liability on this temporary difference is not practicable because of the complexities of the hypothetical calculation. | |||||||||||||
At December 31, 2014, the Company had gross unrecognized tax benefits of approximately $1.6 million. Of this total, approximately $1.5 million would affect the Company’s effective tax rate if recognized. The Company classifies liabilities for unrecognized tax benefits for which it does not anticipate payment or receipt of cash within one year in non-current other liabilities. | |||||||||||||
A reconciliation of the beginning and ending amounts of gross unrecognized tax benefits is as follows (in thousands): | |||||||||||||
December 31, | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Unrecognized tax benefits – beginning balance | $ | 1,700 | $ | 824 | $ | 824 | |||||||
Gross increases – tax positions taken in prior period | (219 | ) | 642 | — | |||||||||
Gross increases– tax positions taken in current period | 89 | 234 | — | ||||||||||
Unrecognized tax benefits – ending balance | $ | 1,570 | $ | 1,700 | $ | 824 | |||||||
The Company does not expect significant changes to the unrecognized tax benefits in the next twelve months. | |||||||||||||
The Company recognizes interest and penalties related to uncertain tax positions in income tax expense. Related to the unrecognized tax benefits noted above, the Company accrued no additional interest or penalties during 2014 and in total, as of December 31, 2014, the Company has not recognized a liability for interest and penalties. | |||||||||||||
The Company and its subsidiaries file income tax returns in the U.S. federal, various state and foreign jurisdictions. With the use of net operating losses in recent periods and the filing in additional states, certain statutes will begin to expire as early as 2016, but the majority remain open at this time. |
Note_13_Retirement_Contributio
Note 13 - Retirement Contribution Plans | 12 Months Ended |
Dec. 31, 2014 | |
Compensation and Retirement Disclosure [Abstract] | |
Pension and Other Postretirement Benefits Disclosure [Text Block] | 13. Retirement Contribution Plans |
The Company provides a defined contribution savings plan under Section 401(k) of the Internal Revenue Code and certain other plans in other countries. The 401(k) plan is available to all full-time U.S. employees and allows participants to defer a portion of their annual compensation on a pre-tax basis. The Company may contribute to the 401(k) plan at the discretion of its board of directors. No contributions have been made to the plan during the years ended December 31, 2014, 2013 and 2012. |
Note_14_Net_Income_Loss_Per_Sh
Note 14 - Net Income (Loss) Per Share | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Earnings Per Share [Abstract] | |||||||||||||
Earnings Per Share [Text Block] | 14. Net Income (Loss) Per Share | ||||||||||||
Basic net income (loss) per share is computed by dividing the net income (loss) for the period by the weighted average number of common shares outstanding during the period. Diluted net income (loss) per share is computed by dividing the net income (loss) for the period by the weighted average number of common and potential dilutive shares outstanding during the period, to the extent such shares are dilutive. Potential dilutive shares are composed of incremental common shares issuable upon the exercise of stock options, warrants and unvested restricted shares using the treasury stock method. Basic income (loss) from continuing operations per share is computed by dividing income (loss) from continuing operations for the period by the weighted average number of common shares outstanding during the period. Diluted income (loss) from continuing operations per share is computed by dividing income (loss) from continuing operations for the period by the weighted average number of common and potential dilutive shares outstanding during the period, to the extent such shares are dilutive. The Company had a loss from continuing operations for the year ended December 31, 2014, and therefore the number of diluted shares was equal to the number of basic shares for this period. | |||||||||||||
The following potentially dilutive securities have been excluded from the calculation of diluted net loss per common share as they would be anti-dilutive for the periods below (in thousands): | |||||||||||||
Years Ended December 31, | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Deferred stock consideration and unvested restricted stock | 768 | 216 | 59 | ||||||||||
Stock options and warrant | 6,489 | 3,534 | 6,336 | ||||||||||
7,257 | 3,750 | 6,395 | |||||||||||
The following table sets forth the computation of basic and diluted income (loss) from continuing operations per share (in thousands, except per share amounts): | |||||||||||||
Years Ended December 31, | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Numerator: | |||||||||||||
Income (loss) from continuing operations | $ | (45,660 | ) | $ | 3,051 | $ | 4,165 | ||||||
Denominator: | |||||||||||||
Weighted average common shares used in computation of income (loss) from continuing operations per share | 28,461 | 27,764 | 28,348 | ||||||||||
Deferred stock consideration and restricted stock | — | 199 | 58 | ||||||||||
Stock options and warrants | — | 1,088 | 490 | ||||||||||
Weighted average common shares used in computation of income (loss) per share from continuing operations, diluted | 28,461 | 29,051 | 28,896 | ||||||||||
Income (loss) per share from continuing operations, basic | $ | (1.60 | ) | $ | 0.11 | $ | 0.15 | ||||||
Income (loss) per share from continuing operations, diluted | $ | (1.60 | ) | $ | 0.11 | $ | 0.14 | ||||||
Note_15_Segment_Information
Note 15 - Segment Information | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Segment Reporting [Abstract] | |||||||||||||
Segment Reporting Disclosure [Text Block] | 15. Segment Information | ||||||||||||
Revenue by geographic region with respect to the Direct Local channel and National Brands, Agencies and Resellers, is based on the physical location of the sales office, and with respect to Agencies and Resellers, is based on the physical location of the agency or reseller. The following summarizes revenue by geographic region (in thousands): | |||||||||||||
Years Ended December 31, | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Revenue: | |||||||||||||
North America | $ | 293,096 | $ | 341,737 | $ | 327,124 | |||||||
International | 181,825 | 172,333 | 127,833 | ||||||||||
$ | 474,921 | $ | 514,070 | $ | 454,957 | ||||||||
Long Lived Assets: | |||||||||||||
North America | $ | 12,723 | $ | 5,896 | |||||||||
International | 6,819 | 7,168 | |||||||||||
$ | 19,542 | $ | 13,064 | ||||||||||
The results of the Australia geographic region have been included in the Company’s consolidated financial statements and include revenues of $80.3 million, $85.0 million, and $72.6 million in 2014, 2013 and 2012, respectively. Long-lived assets of the Australia geographic region were $1.7 million and $2.3 million at December 31, 2014 and 2013, respectively. |
Note_16_Supplemental_Cash_Flow
Note 16 - Supplemental Cash Flow Information | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Supplemental Cash Flow Elements [Abstract] | |||||||||||||
Cash Flow, Supplemental Disclosures [Text Block] | 16. Supplemental Cash Flow Information | ||||||||||||
The following table sets forth supplemental cash flow disclosures (in thousands): | |||||||||||||
Years Ended December 31, | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Cash paid for interest, net | $ | 30 | $ | — | $ | — | |||||||
Cash paid for income taxes, net | $ | 1,093 | $ | 3,474 | $ | 1,040 | |||||||
Non-cash investing and financing activities: | |||||||||||||
Capitalized software development costs resulting from stock-based compensation and deferred payment obligations | $ | 470 | $ | 443 | $ | 226 | |||||||
Deferred payment obligation decrease | $ | — | $ | (122 | ) | $ | (195 | ) | |||||
Unpaid purchases of property and equipment | $ | 113 | $ | 83 | $ | 211 | |||||||
Assets acquired under capital leases | $ | 1,727 | $ | — | $ | — | |||||||
Investment related to the ClubLocal disposition | $ | 4,500 | $ | — | $ | — | |||||||
Note_17_Discontinued_Operation
Note 17 - Discontinued Operations | 12 Months Ended |
Dec. 31, 2014 | |
Discontinued Operations and Disposal Groups [Abstract] | |
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block] | 17. Discontinued Operations |
ClubLocal | |
In the fourth quarter of 2013, the Company’s Board of Directors approved a plan to dispose of the Company’s ClubLocal business, and on February 18, 2014, the Company closed a transaction in which it transferred its ClubLocal business to a new entity in exchange for a minority equity interest. The Company has an equity interest in the new entity of 14.2%, with a recorded fair value of $4.5 million. As a result of the disposition, the Company recorded a gain on disposal of $0.8 million, net of income tax of $0.4 million. This business has been accounted for as discontinued operations for all periods presented. Long-lived assets of ClubLocal that were disposed of include property, plant, and equipment of $0.2 million. In addition, the Company granted a license to the new entity for the use of certain technology. The book value of ClubLocal’s capitalized software development costs was approximately $3.1 million, which reduced the gain on disposal. |
Note_18_Quarterly_Information_
Note 18 - Quarterly Information (Unaudited) | 12 Months Ended | ||||||||||||||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | |||||||||||||||||||||||||||||||||
Quarterly Financial Information [Text Block] | 18. Quarterly Information (Unaudited) | ||||||||||||||||||||||||||||||||
The following table sets forth unaudited and quarterly financial data for the four quarters of each of 2014 and 2013. As a result of the disposal of the Company’s ClubLocal business and the winding down of the operations of Bizzy, management has reclassified and presented all related historical financial information as “discontinued operations” in the following consolidated statements of operations. | |||||||||||||||||||||||||||||||||
Dec 31, | Sept 30, | June 30, | Mar 31, | Dec 31, | Sept 30, | June 30, | Mar 31, | ||||||||||||||||||||||||||
2014 | 2014 | 2014 | 2014 | 2013 | 2013 | 2013 | 2013 | ||||||||||||||||||||||||||
Revenue | $ | 109,009 | $ | 117,623 | $ | 123,553 | $ | 124,736 | $ | 132,893 | $ | 132,813 | $ | 126,757 | $ | 121,607 | |||||||||||||||||
Cost of revenue | $ | 61,708 | $ | 64,154 | $ | 63,461 | $ | 63,398 | $ | 65,662 | $ | 66,083 | $ | 63,599 | $ | 61,106 | |||||||||||||||||
Income (loss) from continuing operations | $ | (17,737 | ) | $ | (11,284 | ) | $ | (10,326 | ) | $ | (6,313 | ) | $ | 728 | $ | 650 | $ | 1,321 | $ | 352 | |||||||||||||
Income (loss) from discontinued operations, net of income taxes | $ | (279 | ) | $ | — | $ | 31 | $ | 371 | $ | (1,313 | ) | $ | (1,772 | ) | $ | (1,462 | ) | $ | (987 | ) | ||||||||||||
Net loss | $ | (17,458 | ) | $ | (11,284 | ) | $ | (10,295 | ) | $ | (5,973 | ) | $ | (585 | ) | $ | (1,122 | ) | $ | (141 | ) | $ | (635 | ) | |||||||||
Net income (loss) per share: | |||||||||||||||||||||||||||||||||
Basic: | |||||||||||||||||||||||||||||||||
Income (loss) from continuing operations | $ | (0.62 | ) | $ | (0.40 | ) | $ | (0.36 | ) | $ | (0.22 | ) | $ | 0.03 | $ | 0.02 | $ | 0.05 | $ | 0.01 | |||||||||||||
Income (loss) from discontinued operations, net of income taxes | 0.01 | — | — | 0.01 | (0.05 | ) | (0.06 | ) | (0.05 | ) | (0.04 | ) | |||||||||||||||||||||
Net loss per share | $ | (0.61 | ) | $ | (0.40 | ) | $ | (0.36 | ) | $ | (0.21 | ) | $ | (0.02 | ) | $ | (0.04 | ) | $ | (0.01 | ) | $ | (0.02 | ) | |||||||||
Diluted: | |||||||||||||||||||||||||||||||||
Income (loss) from continuing operations | $ | (0.62 | ) | $ | (0.40 | ) | $ | (0.36 | ) | $ | (0.22 | ) | $ | 0.03 | $ | 0.02 | $ | 0.04 | $ | 0.01 | |||||||||||||
Income (loss) from discontinued operations, net of income taxes | 0.01 | — | — | 0.01 | (0.05 | ) | (0.06 | ) | (0.05 | ) | (0.04 | ) | |||||||||||||||||||||
Net loss per share | $ | (0.61 | ) | $ | (0.40 | ) | $ | (0.36 | ) | $ | (0.21 | ) | $ | (0.02 | ) | $ | (0.04 | ) | $ | (0.01 | ) | $ | (0.02 | ) | |||||||||
Accounting_Policies_by_Policy_
Accounting Policies, by Policy (Policies) | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Accounting Policies [Abstract] | |||||||||||||
Concentration Risk, Credit Risk, Policy [Policy Text Block] | Concentrations of Credit Risk | ||||||||||||
Financial instruments that potentially subject the Company to concentration of credit risk consist primarily of cash and cash equivalents, restricted cash, short-term investments and accounts receivable. Cash and cash equivalents and certificates of deposit are deposited with a limited number of financial institutions in the United States, Canada, Australia, United Kingdom, India, the Netherlands, Germany, Japan and Brazil. The balances held at any one financial institution are generally in excess of Federal Deposit Insurance Corporation insurance limits or, in foreign territories, local insurance limits, and as a result, access to the Company’s cash and cash equivalents may be impacted by adverse conditions in the global financial markets, including fluctuations in currency exchange rates. As of December 31, 2014, domestic bank balances in excess of insured limits were $21.5 million and foreign bank balances in excess of insured limits were $22.9 million. | |||||||||||||
The Company’s customers are primarily local businesses, dispersed both geographically and across a broad range of industries. Management performs ongoing evaluation of trade receivables for collectability and provides an allowance for potentially uncollectible accounts. The following table summarizes the change in the Company’s allowance for doubtful accounts for each of the three years ended December 31, 2014, 2013 and 2012 (in thousands): | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Allowance for doubtful accounts as of the beginning of the year | $ | 2,212 | $ | 259 | $ | 363 | |||||||
Additions charged to expense | 2,621 | 6,080 | 483 | ||||||||||
Write-offs | (4,511 | ) | (4,396 | ) | (791 | ) | |||||||
Recoveries | 639 | 268 | 205 | ||||||||||
Allowance for doubtful accounts as of the end of the year | $ | 961 | $ | 2,212 | $ | 259 | |||||||
As of December 31, 2014, one client comprised 11% of the consolidated accounts receivable balance. As of December 31, 2013, a receivable from OxataSMB accounted for 13% of the total accounts receivable balance, which has been fully reserved. For the years ended December 31, 2014, 2013, and 2012, the Company did not have any individual clients that comprised more than 10% of consolidated revenues. | |||||||||||||
During 2014, 2013, and 2012, the Company’s cost of revenue was primarily for the purchase of media from two of our vendors. Other receivables and prepaid expenses included $0.6 million and $5.5 million of non-trade receivables from media vendors at December 31, 2014 and 2013, respectively. Accounts payable included $17.1 million and $21.2 million of accrued media expenses from media vendors at December 31, 2014 and 2013, respectively. | |||||||||||||
New Accounting Pronouncements, Policy [Policy Text Block] | Recent Accounting Pronouncements | ||||||||||||
In February 2015, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2015-02, Consolidation. The amendments in this update require management to reevaluate whether certain legal entities should be consolidated. Specifically, the amendments (1) modify the evaluation of whether limited partnerships and similar legal entities are variable interest entities (VIEs) or voting interest entities, (2) eliminate the presumption that a general partner should consolidate a limited partnership, (3) affect the consolidation analysis of reporting entities that are involved with VIEs, particularly those that have fee arrangements and related party relationships, and (4) provide a scope exception from consolidation guidance for reporting entities with interests in legal entities that are required to comply with or operate in accordance with requirements that are similar to those in Rule 2a-7 of the Investment Company Act of 1940 for registered money market funds. The amendments in this update are effective for the Company as of January 1, 2016. Early adoption is permitted. The Company is currently assessing the impact of this update, and believes that its adoption on January 1, 2016 will not have a material impact on its consolidated financial statements. | |||||||||||||
In August 2014, the FASB issued ASU No. 2014-15, Presentation of Financial Statements – Going Concern. The amendments in this update require management to assess an entity’s ability to continue as a going concern by incorporating and expanding upon certain principles that are currently in U.S. auditing standards. Specifically, the amendments (1) provide a definition of the term substantial doubt, (2) require an evaluation every reporting period, including interim periods, (3) provide principles for considering the mitigating effect of management’s plans, (4) require certain disclosures when substantial doubt is alleviated as a result of consideration of management’s plans, (5) require an express statement and other disclosures when substantial doubt is not alleviated, and (6) require an assessment for a period of one year after the date that the financial statements are issued (or available to be issued). The amendments in this update are effective for the Company as of January 1, 2017. Early application is permitted. The adoption of this standard is not expected to have an impact on the Company’s consolidated financial condition and results of operations. | |||||||||||||
In June 2014, the FASB issued ASU No. 2014-12, Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period. The amendments in this update require that a performance target that affects vesting and that could be achieved after the requisite service period be treated as a performance condition. A reporting entity should apply existing guidance in Accounting Standards Codification (“ASC”) 718, Compensation – Stock Compensation, as it relates to awards with performance conditions that affect vesting to account for such awards. The amendments in this update will be effective for the Company as of January 1, 2016. Earlier adoption is permitted. Entities may apply the amendments in this update either: (a) prospectively to all awards granted or modified after the effective date; or (b) retrospectively to all awards with performance targets that are outstanding as of the beginning of the earliest annual period presented in the financial statements and to all new or modified awards thereafter. If retrospective transition is adopted, the cumulative effect of applying this update as of the beginning of the earliest annual period presented in the financial statements should be recognized as an adjustment to the opening retained earnings balance at that date. In addition, if retrospective transition is adopted, an entity may use hindsight in measuring and recognizing the compensation cost. The Company is currently assessing the impact of this update, and believes that its adoption on January 1, 2016 will not have a material impact on its consolidated financial statements. | |||||||||||||
In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers. The guidance in this update supersedes the revenue recognition requirements in ASC 605, Revenue Recognition, and most industry-specific guidance throughout the Codification. This update supersedes some cost guidance included in ASC 605-35, Revenue Recognition - Construction-Type and Production-Type Contracts. In addition, the existing requirements for the recognition of a gain or loss on the transfer of nonfinancial assets that are not in a contract with a customer (for example, assets within the scope of ASC 360, Property, Plant, and Equipment, and intangible assets, within the scope of ASC 350, Intangibles - Goodwill and Other) are amended to be consistent with the guidance on recognition and measurement in this update. The standard will be effective for the Company as of January 1, 2017. Earlier adoption is not permitted for public entities. An entity can apply the revenue standard retrospectively to each prior reporting period presented (full retrospective method) or retrospectively with the cumulative effect of initially applying the standard recognized at the date of initial application in retained earnings (simplified transition method). The Company is currently assessing the impact of this update on its consolidated financial statements. | |||||||||||||
In April 2014, the FASB issued ASU No. 2014-08, Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity. The amendments in this update change the criteria for determining which disposals can be presented as discontinued operations and modify related disclosure requirements. The guidance applies prospectively to new disposals and new classifications of disposal groups as held for sale after the effective date, and was effective for the Company as of January 1, 2015. The Company will apply this guidance to any new disposals or new classification as held for sale after the effective date. | |||||||||||||
Consolidation, Policy [Policy Text Block] | Principles of Consolidation and Basis of Presentation | ||||||||||||
The consolidated financial statements include the accounts of ReachLocal, Inc. and its wholly owned subsidiaries. The Company's consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”). All significant intercompany accounts and transactions have been eliminated in consolidation. | |||||||||||||
Use of Estimates, Policy [Policy Text Block] | Use of Estimates | ||||||||||||
The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting periods. Actual results may differ from those estimates. | |||||||||||||
Reclassification, Policy [Policy Text Block] | Reclassifications and Adjustments | ||||||||||||
Certain prior period amounts have been reclassified to conform to the current period presentation and certain adjustments related to prior reporting periods totaling $0.3 million have been recorded in other income, net, in the year ended December 31, 2014. | |||||||||||||
Foreign Currency Transactions and Translations Policy [Policy Text Block] | Foreign Currency Translation | ||||||||||||
The Company’s operations are conducted in several countries around the world, and the financial statements of its foreign subsidiaries are reported in the applicable foreign currencies (functional currencies). Financial information is translated from the applicable functional currency to the U.S. dollar, the reporting currency, for inclusion in the Company’s consolidated financial statements. Revenue and expenses are translated at average exchange rates prevailing during the period, and assets and liabilities are translated at exchange rates in effect at the balance sheet date. Resulting translation adjustments are included as a component of accumulated other comprehensive income (loss), net in stockholders’ equity. Foreign currency translation adjustments are generally not adjusted for income taxes as they are primarily related to indefinite investments in foreign subsidiaries. Foreign exchange transaction gains and losses are included in other income (expense), net in the accompanying consolidated statements of operations. Exchange gains and losses on intercompany balances that are considered permanently invested are also included as a component of accumulated other comprehensive loss in stockholders’ equity. | |||||||||||||
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash and Cash Equivalents | ||||||||||||
The Company reports all highly liquid short-term investments with original maturities of three months or less at the time of purchase as cash equivalents. As of December 31, 2014 and 2013, cash equivalents consist of demand deposits and money market accounts. Cash equivalents are stated at cost, which approximates fair value. | |||||||||||||
Due to the Company’s overall operating performance and capital expenditures, the Company’s cash balances at December 31, 2014, decreased approximately $33.8 million from December 31, 2013. At December 31, 2014, the Company’s current liabilities exceeded current assets by approximately $44.8 million. The Company’s management has taken and will continue to take steps to reduce expenses and improve the Company’s financial position and operating results. Management believes that available cash and anticipated cost reductions will together be sufficient to satisfy the Company’s operating activities, working capital and planned investing and financing activities for at least the next 12 months. | |||||||||||||
Marketable Securities, Policy [Policy Text Block] | Short-Term Investments | ||||||||||||
The Company classifies investments as short-term when the original maturity is less than one year, or when the Company intends to sell the investment within one year. As of December 31, 2014 and 2013, short-term investments consisted of certificates of deposit. All of the short-term investments are classified as available-for-sale. Short-term investments are stated at cost, which approximates fair value. | |||||||||||||
Receivables, Policy [Policy Text Block] | Accounts Receivable | ||||||||||||
The Company performs ongoing credit evaluations of its customers and adjusts credit limits based upon payment history, the customer’s creditworthiness and various other factors, as determined by its review of their credit information. The Company monitors collections and payments from its customers and maintains an allowance for estimated credit losses based upon its historical experience and any customer-specific collection issues that it has identified. | |||||||||||||
Property, Plant and Equipment, Policy [Policy Text Block] | Property and Equipment | ||||||||||||
Property and equipment are stated at historical cost less accumulated depreciation and amortization. Depreciation is computed using the straight-line method over the estimated useful lives of the assets, which is generally three years for computer hardware and software, five years for office equipment, and seven years for furniture and fixtures. Leasehold improvements are amortized using the straight-line method over the lesser of the useful life or the lease term. Upon retirement or sale, the cost of assets disposed of and the related accumulated depreciation are eliminated from the accounts and any resulting gain or loss is credited or charged to operations. Repairs and maintenance costs are expensed as incurred. | |||||||||||||
Research, Development, and Computer Software, Policy [Policy Text Block] | Software Development Costs | ||||||||||||
Costs to develop software for internal use are capitalized when the Company has determined that the development efforts will result in new or additional functionality or new products. Costs incurred prior to meeting these criteria and costs associated with ongoing maintenance are expensed as incurred and included in product and technology expenses, in addition to amortization of capitalized software development costs, in the accompanying consolidated statements of operations. The Company monitors its existing capitalized software costs and reduces its carrying value as the result of releases that render previous features or functions obsolete or otherwise reduce the value of previously capitalized costs. Costs capitalized as internal use software are amortized on a straight-line basis over an estimated useful life of three years. | |||||||||||||
Cash and Cash Equivalents, Restricted Cash and Cash Equivalents, Policy [Policy Text Block] | Restricted Cash | ||||||||||||
Restricted cash represents certificates of deposit held at financial institutions, which are pledged as collateral for letters of credit related to lease commitments or collateral for the Company’s merchant accounts. The letters of credit will lapse at the end of the respective lease terms through 2024 and the certificates of deposit automatically renew for successive one-year periods over the duration of the lease term. The restrictions related to merchant accounts will lapse upon termination of the merchant accounts. As of December 31, 2014 and 2013, the Company had restricted certificates of deposit in the amounts of $3.4 million and $3.7 million, respectively. As of December 31, 2014, restricted cash also included $0.2 million of cash reserved to provide for potential liabilities for employee health care claims. The restricted cash is classified as restricted certificates of deposit in the accompanying consolidated balance sheets. | |||||||||||||
Loans and Leases Receivable, Allowance for Loan Losses Policy [Policy Text Block] | Loan Receivables | ||||||||||||
The Company records loan receivables at carrying value, net of potential allowance for losses. Losses on receivables are recorded when probable and estimable. Interest income on loan receivables is accrued on a monthly basis over the life of the loan, and interest recognition is suspended upon impairment of loan principal. | |||||||||||||
Investment, Policy [Policy Text Block] | Investments in Third Parties | ||||||||||||
The Company accounts for investments in third parties under the cost method, which are periodically assessed for other-than-temporary impairment. The fair value of a cost method investment is not evaluated if there are no identified events or changes in circumstances that may have a significant adverse effect on the fair value of the investment. However, if a significant adverse event were identified, the Company would estimate the fair value of its cost method investment considering available information at the time of the event, such as current cash position, earnings and cash flow forecasts, recent operational performance and any other readily available data. If the Company determines that an other-than-temporary impairment has occurred, the investment is written-down to its fair value. | |||||||||||||
Consolidation, Variable Interest Entity, Policy [Policy Text Block] | Variable Interest Entities | ||||||||||||
In accordance with Accounting Standards Codification (“ASC”) 810, Consolidations, the applicable accounting guidance for the consolidation of variable interest entities (“VIE”), the Company analyzes its interests, including agreements, loans, guarantees, and equity investments, on a periodic basis to determine if such interests are variable interests. If variable interests are identified, then the related entity is assessed to determine if it is a VIE. The Company’s analysis includes both quantitative and qualitative reviews. The Company bases its quantitative analysis on the forecasted cash flows of the entity, and its qualitative analysis on the design of the entity, its organizational structure including its decision-making authority, and relevant agreements. If the Company determines that the entity is a VIE, the Company then assesses if it must consolidate the VIE as its primary beneficiary. The Company’s determination of whether it is the primary beneficiary is based upon qualitative and quantitative analyses, which assess the purpose and design of the VIE, the nature of the VIE’s risks and the risks that the Company absorbs, the power to direct activities that most significantly impact the economic performance of the VIE, and the obligation to absorb losses or the right to receive benefits that could be significant to the VIE. | |||||||||||||
Intangible Assets, Finite-Lived, Policy [Policy Text Block] | Finite-Lived Intangible Assets and Other Long-Lived Assets | ||||||||||||
Finite-lived intangible assets are attributable to the various developed technologies, trade names, and customer relationships of the businesses the Company has acquired. The Company reports finite-lived, acquisition-related intangible assets at acquisition date fair value, net of accumulated amortization. Finite-lived intangible assets are amortized on a straight-line basis over their estimated useful lives, ranging from three to ten years. Straight-line amortization is used as another pattern over which the economic benefits will be consumed cannot be reliably determined. The Company reviews the carrying values of long-lived assets, including intangible assets, for possible impairment whenever events or changes in circumstances indicate that the related carrying amount may not be recoverable. In its analysis of other finite lived amortizable intangible assets, the Company applies the guidance of ASC 350-20, Intangibles – Goodwill and Other, in determining whether any impairment conditions exist. An impairment review is performed whenever events or changes in circumstances indicate that the carrying value may not be recoverable. Recoverability of an intangible asset is measured by comparing its carrying amount to the expected future undiscounted cash flows that the asset is expected to generate, if it is determined that an asset is not recoverable. An impairment loss is recognized to the extent that the carrying amount exceeds the asset’s fair value. Long-lived assets to be disposed of are reported at the lower of carrying amount or estimated fair value less cost to sell. | |||||||||||||
At December 31, 2014 and 2013, there were no indications of impairment of the Company’s finite-lived intangible assets or other long-lived assets. | |||||||||||||
Goodwill and Intangible Assets, Goodwill, Policy [Policy Text Block] | Goodwill | ||||||||||||
Goodwill represents the excess of the purchase price of the Company’s acquired businesses over the fair value of the net tangible and intangible assets acquired. The Company accounts for goodwill in accordance with ASC 350, Intangibles—Goodwill and Other, which addresses financial accounting and reporting requirements for acquired goodwill. ASC 350 prohibits the amortization of goodwill and requires the Company to test goodwill at the reporting unit level for impairment at least annually. | |||||||||||||
The Company tests the goodwill of its reporting units for impairment annually on the first day of the fourth quarter, and whenever events occur or circumstances change that would more likely than not indicate that the goodwill might be impaired. Events or circumstances which could trigger an impairment review include, but are not limited to, a significant adverse change in legal or business climate, an adverse action or assessment by a regulator, unanticipated competition, a loss of key management or other personnel, significant changes in the manner of the Company's use of the acquired assets or the strategy for the acquired business or the Company's overall business, significant negative industry or economic trends, or significant underperformance relative to expected historical or projected future results of operations. | |||||||||||||
Testing goodwill for impairment involves a two-step quantitative process. However, prior to performing the two-step quantitative goodwill impairment test, the Company has the option to first assess qualitative factors to determine whether or not it is necessary to perform the two-step quantitative goodwill impairment test for selected reporting units. If the Company chooses the qualitative option, the Company is not required to perform the two-step quantitative goodwill impairment test unless it has determined, based on the qualitative assessment, that it is more likely than not that the fair value of a reporting unit is less than its carrying amount. The first step of the impairment test involves comparing the estimated fair values of a reporting unit with its respective carrying amount, including goodwill. If the estimated fair value of a reporting unit exceeds its carrying amount, including goodwill, goodwill is considered not to be impaired and no additional steps are necessary. If, however, the estimated fair value of the reporting unit is less than its carrying amount, including goodwill, then the second step is performed to compare the carrying amount of the goodwill with its implied fair value, which is determined by deducting the aggregate fair value of the reporting unit's identifiable assets and liabilities from the fair value of the reporting unit. If the carrying amount of goodwill exceeds the implied fair value of that goodwill, an impairment loss is recognized in an amount equal to the excess. | |||||||||||||
The process of estimating the fair value of goodwill is subjective and requires the Company to make estimates that may significantly impact the outcome of the analyses. The estimated fair value for each reporting unit is determined using both an income-based valuation approach, as well as a market-based valuation approach. Under the income-based approach, each reporting unit’s fair value is estimated using the discounted cash flow method. The discounted cash flow method is dependent upon a number of factors, including projections of the amounts and timing of future revenues and cash flows, assumed discount rates determined to be commensurate with the risks inherent in its business model, and other assumptions. Under the market-based valuation approach, each reporting unit’s fair value is estimated based on industry multiples of revenues and operating earnings. The income-based approach is weighted between 50.0% and 66.7% depending on the amount and timing of projected operating earnings attributable to each reporting unit. | |||||||||||||
The Company operates in one reportable segment, in accordance with ASC 280, Segment Reporting, which is the basis that financial results are regularly reviewed by the Company's chief operating decision maker in deciding how to allocate resources and assess performance. The Company has identified its reporting units as North America, Asia Pacific, Latin America, and Europe. These reporting units each constitute a business or group of businesses for which discrete financial information is available and is regularly reviewed by each reporting unit’s management. The Company’s goodwill is comprised of balances in both the North America and Asia Pacific reporting units. | |||||||||||||
Self Insurance Reserve [Policy Text Block] | Self-Insurance | ||||||||||||
Beginning July 2, 2014, the Company implemented a self-insurance plan to provide for potential liabilities for employee health care claims in the United States. Liabilities associated with the risks are estimated, in part, by considering historical claims experience, demographic factors, severity factors, and other actuarial assumptions. The Company had insurance liabilities totaling approximately $0.5 million at December 31, 2014, which are included in accrued compensation and benefits in the accompanying consolidated balance sheets. | |||||||||||||
Lease, Policy [Policy Text Block] | Leases | ||||||||||||
The Company leases various facilities under agreements accounted for as operating leases. For leases that contain escalation or rent concessions provisions, management recognizes rent expense during the lease term on a straight-line basis over the term of the lease. The difference between rent paid and straight-line rent expense is recorded as a deferred rent liability in the accompanying consolidated balance sheets. | |||||||||||||
Assets held under capital leases are recorded at the lower of the net present value of the minimum lease payments or at the fair value of the leased asset at the inception of the lease. Amortization expense is computed using the straight-line method over the shorter of the estimated useful life of the asset or the period of the related lease. Principal payments on capital lease obligations are recorded as reduction of capital lease liability in the accompanying consolidated balance sheets, and interest payments are recorded as interest expense which is included in other income, net in the accompanying consolidated statements of operations. | |||||||||||||
Revenue Recognition, Policy [Policy Text Block] | Revenue Recognition | ||||||||||||
The Company applies the provisions of ASC 605, Revenue Recognition, and recognizes revenue for its products and solutions when persuasive evidence of an arrangement exists, services have been performed, the selling price is fixed or determinable, and collectibility is reasonably assured. The Company recognizes revenue for search engine marketing as clicks are recorded on sponsored links on the various search engines and for its display advertising and retargeting when the display advertisements record impressions or as otherwise provided in its agreement with the applicable publisher. The Company recognizes revenue for lead conversion software, web presence and other products with a defined license or service period on a straight-line basis over the applicable license or service period. The Company recognizes revenue when it charges set-up, management service or other fees on a straight-line basis over the term of the related contract or the completion of any obligation for services, if shorter. The Company accounts for sales and similar taxes imposed on its services on a net basis in the consolidated statements of operations. | |||||||||||||
When the Company receives advance payments from clients, it records these amounts as deferred revenue until the revenue is recognized. From time to time, the Company offers incentives to clients in exchange for minimum commitments. In these circumstances, management estimates the amount of the incentives that will be earned by clients and adjusts the recognition of revenue to reflect such incentives. Estimates are either based upon a statistical analysis of previous campaigns for which such incentives were offered, or calculated on a straight-line basis over the life of the campaign. | |||||||||||||
When the Company sells through agencies, it either receives payment in advance of delivery of its products or solutions or in some cases extends credit. The Company pays each agency an agreed-upon commission based on the revenue it earns or cash it receives. Some agency clients who have been extended credit may offset the amount otherwise due to the Company by any commissions they have earned. Management evaluates whether it is appropriate to record the gross amount of campaign revenue or the net amount earned after commissions. As the Company is generally the primary party obligated in the arrangement, subject to the credit risk, with discretion over both price and media, management typically recognizes the gross amount of such sales as revenue and any commissions are recognized as a selling and marketing expense. | |||||||||||||
The Company also has a small number of resellers. Resellers integrate the Company’s products and solutions, including the Company’s branded search engine marketing, display advertising and online marketing analytics, into their product offerings. In most cases, the resellers integrate with the Company’s technology platform through a custom Application Programming Interface (API). Resellers are responsible for the price and specifications of the integrated product offered to their clients. Resellers pay the Company in arrears, net of commissions and other adjustments. Management recognizes revenue generated under reseller agreements net of the agreed-upon commissions and other adjustments earned or retained by the reseller, as management believes that the reseller has retained sufficient control and bears sufficient risks to be considered the primary obligor in those arrangements. | |||||||||||||
The Company distributes its products and solutions directly through its outside and inside sales force that is focused on serving local businesses in their local markets through a consultative process, which the Company refers to as its Direct Local channel. The Direct Local channel also includes revenue from licensing of the Company’s Kickserv software solution, which is marketed directly to local businesses over the Internet. In addition, the Company employs a separate sales channel targeting national brands, franchises and strategic accounts with operations in multiple local markets and select third-party agencies and resellers. The Company refers to this as its National Brands, Agencies and Resellers channel. | |||||||||||||
Cost of Sales, Policy [Policy Text Block] | Cost of Revenue | ||||||||||||
Cost of revenue consists primarily of the costs of online media acquired from third-party publishers. Media cost is classified as cost of revenue in the period in which the corresponding revenue is recognized. From time to time, publishers offer the Company rebates based upon various factors and operating rules, including the amount of media purchased. Rebates are recorded in the period in which they are earned as a reduction to cost of revenue and the corresponding payable to the applicable publisher, or as an other receivable, as appropriate. Cost of revenue also includes the third-party telephone and information services costs, other third-party service provider costs, data center and third-party hosting costs, credit card processing fees, and other direct costs. | |||||||||||||
In addition, cost of revenue includes costs to manage and operate our various solutions and technology infrastructure, other than costs associated with our sales force, which are reflected as selling and marketing expenses. Cost of revenue includes salaries, benefits, bonuses and stock-based compensation for the related staff, and allocated overhead such as depreciation expense, rent and utilities. Cost of revenue also includes the amortization and impairment charges on certain acquired intangible assets. | |||||||||||||
Selling And Marketing Expenses [Policy Text Block] | Selling and Marketing Expenses | ||||||||||||
Selling and marketing expenses consist primarily of personnel and related expenses for selling and marketing staff, including salaries and wages, commissions and other variable compensation, benefits, bonuses and stock-based compensation; travel and business costs; training, recruitment, marketing and promotional events; advertising; other brand building and product marketing expenses; and occupancy, technology and other direct overhead costs. A portion of the compensation for employees in the sales organization is based on commissions. In addition, the cost of agency commissions is included in selling and marketing expenses. Generally, commissions are expensed as earned. However, commencing in 2014, the Company began paying commissions to certain sales people for the acquisition of new clients. Client contracts are generally not cancelable without a penalty, and the Company defers those commissions and amortizes them over the term of the initial customer campaign. Unamortized commission expense of $0.6 million at December 31, 2014, is included in prepaid expenses and other current assets in the accompanying consolidated balance sheet. | |||||||||||||
Product and Technology Expenses [Policy Text Block] | Product and Technology Expenses | ||||||||||||
Product and technology expenses consist primarily of personnel and related expenses for product development and engineering professionals, including salaries, benefits, bonuses and stock-based compensation, and the cost of third-party contractors and certain other third-party service providers and other expenses, including occupancy, technology and other direct overhead costs. Technology operations costs, including related personnel and third-party costs, are included in product and technology expenses. The Company capitalizes a portion of its software development costs and, accordingly, includes amortization of those costs as costs of product and technology, as our technology platform and the Company’s other systems address all aspects of the Company’s activities, including supporting the selling and consultation process, online publisher integration, efficiencies and optimization, providing insight to clients into the results and effects of their online advertising campaigns and supporting all of the financial and other back-office functions of the business. Product and technology expenses also include the amortization of the technology obtained in acquisitions and the expenses of deferred payment obligations related to product and technology personnel. Product and technology costs do not include the costs to operate and deliver our solutions to clients, which are included in cost of revenue in the consolidated statements of operations. | |||||||||||||
Selling, General and Administrative Expenses, Policy [Policy Text Block] | General and Administrative Expenses | ||||||||||||
General and administrative expenses consist primarily of personnel and related expenses for board, executive, legal, finance, human resources and corporate communications, including wages, benefits, bonuses and stock-based compensation, professional fees, insurance premiums, business taxes and other expenses, including occupancy, technology and other direct overhead, public company costs and other corporate expenses. | |||||||||||||
Costs Associated with Exit or Disposal Activities or Restructurings, Policy [Policy Text Block] | Restructuring Charges | ||||||||||||
The Company records costs associated with exit activities related to restructuring plans in accordance with the ASC Topic 420, Exit or Disposal Obligations. Liabilities for costs associated with an exit or disposal activity are recognized in the period in which the liability is incurred. Restructuring charges consist of costs associated with the realignment and reorganization of the Company’s operations. Restructuring charges include employee termination costs, facility closure and relocation costs, and contract termination costs. The timing of associated cash payments is dependent upon the type of exit cost and can extend over a 12-month period. The Company records restructuring charge liabilities in accrued restructuring in the consolidated balance sheet. | |||||||||||||
Advertising Costs, Policy [Policy Text Block] | Advertising Expenses | ||||||||||||
The Company expenses advertising as incurred. Advertising expense was $2.9 million, $1.7 million and $1.1 million for the years ended December 31, 2014, 2013 and 2012, respectively, and was recorded in sales and marketing expense in the consolidated statements of operations. | |||||||||||||
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block] | Stock-Based Compensation | ||||||||||||
The Company accounts for stock-based compensation based on the fair market value of the equity award on the date of grant. The Company follows the attribution method, which reduces current stock-based compensation expenses recorded by the effect of anticipated forfeitures. Management estimates forfeitures based upon its historical experience. | |||||||||||||
The fair value of each award is estimated on the date of the grant and amortized over the requisite service period, which is the vesting period. The Company uses the Black-Scholes option pricing model to estimate the fair value of stock option awards on the date of grant. Determining the fair value of stock option awards at the grant date under this model requires judgment, including estimating volatility, expected term and the risk-free interest rate. The fair value of restricted stock and restricted stock unit awards is based on the closing market price of the Company's common stock on the date of grant. In addition, the Company uses a Monte Carlo simulation model to estimate the fair value of market-based performance-vesting restricted stock and restricted stock units. Determining the fair value of these awards at the grant date under this model requires judgment, including estimating volatility, risk-free rate and expected future stock price. The Company determines the probability of achievement of performance milestones for non-market based performance vesting restricted stock and restricted stock units, and recognize expense based on the fair value of the award if it is probable that the performance milestone will be achieved. The assumptions described above rely on management estimates based on judgment and subjective future expectations, which may result in stock-based compensation for future awards that differs significantly from the awards granted previously. | |||||||||||||
The fair value of modifications to stock-based awards is generally estimated using the Black-Scholes option pricing model. If a stock-based compensation award is modified after the grant date, incremental compensation expense is recognized in an amount equal to the excess of the fair value of the modified award over the fair value of the original award immediately before the modification. Incremental compensation expense for fully vested awards is recognized immediately. For unvested awards, the sum of the incremental compensation expense and the remaining unrecognized compensation expense for the original award on the modification date is recognized over the modified service period. | |||||||||||||
Income Tax, Policy [Policy Text Block] | Income Taxes | ||||||||||||
The Company records income taxes using the asset and liability method which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been recognized in its financial statements or tax returns. In estimating future tax consequences, all expected future events other than enactments or changes in the tax law or rates are considered. Valuation allowances are provided when necessary to reduce deferred tax assets to the amount expected to be realized. | |||||||||||||
The Company records tax benefits for income tax positions only if it is “more-likely-than-not” to be sustained based solely on its technical merits as of the reporting date. Management considers many factors when evaluating and estimating tax positions and tax benefits, which may require periodic adjustments and which may differ from actual outcomes. The Company follows a comprehensive model for the financial statement recognition, measurement, presentation and disclosure of uncertain tax positions taken or expected to be taken in income tax returns. The Company’s policy is to recognize interest and penalties related to tax in income tax expense. |
Note_2_Summary_of_Significant_1
Note 2 - Summary of Significant Accounting Policies (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Accounting Policies [Abstract] | |||||||||||||
Allowance for Credit Losses on Financing Receivables [Table Text Block] | 2014 | 2013 | 2012 | ||||||||||
Allowance for doubtful accounts as of the beginning of the year | $ | 2,212 | $ | 259 | $ | 363 | |||||||
Additions charged to expense | 2,621 | 6,080 | 483 | ||||||||||
Write-offs | (4,511 | ) | (4,396 | ) | (791 | ) | |||||||
Recoveries | 639 | 268 | 205 | ||||||||||
Allowance for doubtful accounts as of the end of the year | $ | 961 | $ | 2,212 | $ | 259 |
Note_3_Fair_Value_of_Financial1
Note 3 - Fair Value of Financial Instruments (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||
Fair Value Disclosures [Abstract] | |||||||||||||||||
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | Basis of Fair Value Measurement | ||||||||||||||||
Balance at | Quoted Prices in Active Markets | Significant | Significant Unobservable | ||||||||||||||
December 31, | for Identical | Other | Inputs | ||||||||||||||
2014 | Items (Level 1) | Observable Inputs (Level 2) | (Level 3) | ||||||||||||||
Assets: | |||||||||||||||||
Cash and cash equivalents | $ | 43,720 | $ | 43,720 | $ | — | $ | — | |||||||||
Short-term investments | $ | 904 | $ | 904 | $ | — | $ | — | |||||||||
Restricted deposits | $ | 3,416 | $ | — | $ | 3,416 | $ | — | |||||||||
Liabilities: | |||||||||||||||||
Contingent consideration | $ | 349 | $ | — | $ | — | $ | 349 | |||||||||
Basis of Fair Value Measurement | |||||||||||||||||
Balance at | Quoted Prices in Active Markets for Identical | Significant | Significant Unobservable | ||||||||||||||
December 31, | Items | Other | Inputs | ||||||||||||||
2013 | (Level 1) | Observable Inputs (Level 2) | (Level 3) | ||||||||||||||
Cash and cash equivalents | $ | 77,514 | $ | 77,514 | $ | — | $ | — | |||||||||
Short-term investments | $ | 260 | $ | 260 | $ | — | $ | — | |||||||||
Restricted deposits | $ | 3,654 | $ | — | $ | 3,654 | $ | — | |||||||||
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] | Liabilities: | ||||||||||||||||
Contingent consideration: | |||||||||||||||||
Beginning balance | $ | — | |||||||||||||||
Issuance of contingent consideration in connection with acquisitions | 797 | ||||||||||||||||
Net change in fair value of contingent consideration included in other income | (448 | ) | |||||||||||||||
Ending balance | $ | 349 |
Note_4_Acquisitions_Tables
Note 4 - Acquisitions (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||
Disclosure Text Block Supplement [Abstract] | |||||||||||||||||
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | Assets acquired: | ||||||||||||||||
Cash and cash equivalents | $ | 58 | |||||||||||||||
Intangible assets | 4,280 | ||||||||||||||||
Goodwill | 3,985 | ||||||||||||||||
Total assets acquired | 8,323 | ||||||||||||||||
Liabilities assumed: | |||||||||||||||||
Non-interest bearing liabilities | 24 | ||||||||||||||||
Long-term debt | 350 | ||||||||||||||||
Deferred tax liabilities | 1,249 | ||||||||||||||||
Total liabilities assumed | 1,623 | ||||||||||||||||
Total fair value of net assets acquired | $ | 6,700 | |||||||||||||||
Assets acquired: | |||||||||||||||||
Intangible assets | $ | 1,280 | |||||||||||||||
Goodwill | 2,350 | ||||||||||||||||
Accounts receivable | 330 | ||||||||||||||||
Property and equipment | 13 | ||||||||||||||||
Total assets acquired | 3,973 | ||||||||||||||||
Liabilities assumed: | |||||||||||||||||
Accrued compensation and benefits | 111 | ||||||||||||||||
Deferred revenue | 284 | ||||||||||||||||
Deferred tax liabilities | 358 | ||||||||||||||||
Other | 782 | ||||||||||||||||
Total liabilities assumed | 1,535 | ||||||||||||||||
Total fair value of net assets acquired | $ | 2,438 | |||||||||||||||
Assets acquired: | |||||||||||||||||
Intangible assets | $ | 2,550 | |||||||||||||||
Goodwill | 317 | ||||||||||||||||
Other | 53 | ||||||||||||||||
Total assets acquired | 2,920 | ||||||||||||||||
Liabilities assumed: | |||||||||||||||||
Deferred revenue | 20 | ||||||||||||||||
Total fair value of net assets acquired | $ | 2,900 | |||||||||||||||
Schedule of Goodwill [Table Text Block] | North America | Asia-Pacific | Total | ||||||||||||||
Balance at December 31, 2013 | $ | 9,695 | $ | 32,388 | $ | 42,083 | |||||||||||
Goodwill acquired | 3,985 | 2,445 | 6,430 | ||||||||||||||
Acquisition adjustments (1) | — | (95 | ) | (95 | ) | ||||||||||||
Foreign currency translation | — | (229 | ) | (229 | ) | ||||||||||||
Balance at December 31, 2014 | $ | 13,680 | $ | 34,509 | $ | 48,189 | |||||||||||
Schedule of Finite-Lived Intangible Assets [Table Text Block] | 31-Dec-14 | ||||||||||||||||
Useful Life | Gross Value | Accumulated Amortization | Net | ||||||||||||||
(years) | |||||||||||||||||
Developed Technology | 8-Mar | $ | 5,490 | $ | 2,130 | $ | 3,360 | ||||||||||
Customer contracts and relationships | 4-Feb | 1,875 | 306 | 1,569 | |||||||||||||
Trade names | 10 | 570 | 7 | 563 | |||||||||||||
Total | $ | 7,935 | $ | 2,443 | $ | 5,492 | |||||||||||
31-Dec-13 | |||||||||||||||||
Useful Life | Gross Value | Accumulated Amortization | Net | ||||||||||||||
(years) | |||||||||||||||||
Developed Technology | 3 | $ | 3,060 | $ | 1,790 | $ | 1,270 | ||||||||||
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | Years Ending December 31, | ||||||||||||||||
2015 | $ | 1,422 | |||||||||||||||
2016 | 1,007 | ||||||||||||||||
2017 | 690 | ||||||||||||||||
2018 | 590 | ||||||||||||||||
2019 | 431 | ||||||||||||||||
Thereafter | 1,352 | ||||||||||||||||
Total | $ | 5,492 |
Note_5_Property_and_Equipment_
Note 5 - Property and Equipment (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2014 | |||||||||
Property, Plant and Equipment [Abstract] | |||||||||
Property, Plant and Equipment [Table Text Block] | December 31, | ||||||||
2014 | 2013 | ||||||||
Computer hardware and licensed software | $ | 20,345 | $ | 16,558 | |||||
Office equipment | 4,229 | 1,981 | |||||||
Furniture and fixtures | 4,976 | 4,694 | |||||||
Leasehold improvements | 13,096 | 8,545 | |||||||
Construction in progress | 525 | 305 | |||||||
43,171 | 32,083 | ||||||||
Less: Accumulated depreciation and amortization | (23,532 | ) | (19,180 | ) | |||||
$ | 19,639 | $ | 12,903 |
Note_6_Software_Development_Co1
Note 6 - Software Development Costs (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2014 | |||||||||
Research and Development [Abstract] | |||||||||
Capitalized Computer Software [Table Text Block] | December 31, | ||||||||
2014 | 2013 | ||||||||
Capitalized software development costs | $ | 56,498 | $ | 42,538 | |||||
Accumulated amortization | (34,943 | ) | (25,238 | ) | |||||
Capitalized software development costs, net | $ | 21,555 | $ | 17,300 |
Note_8_Commitments_and_Conting1
Note 8 - Commitments and Contingencies (Tables) | 12 Months Ended | ||||
Dec. 31, 2014 | |||||
Commitments and Contingencies Disclosure [Abstract] | |||||
Schedule of Future Minimum Lease Payments for Capital Leases [Table Text Block] | Years Ended December 31, | ||||
2015 | $ | 693 | |||
2016 | 693 | ||||
2017 | 457 | ||||
Total minimum payments | 1,843 | ||||
Less amount representing interest | (116 | ) | |||
Present value of obligation | $ | 1,727 | |||
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] | Years Ended December 31, | ||||
2015 | $ | 12,219 | |||
2016 | 9,863 | ||||
2017 | 7,368 | ||||
2018 | 6,276 | ||||
2019 | 5,245 | ||||
Thereafter | 14,748 | ||||
$ | 55,719 | ||||
Long-term Purchase Commitment [Table Text Block] | Years Ended December 31, | ||||
2015 | $ | 5,346 | |||
2016 | 4,893 | ||||
2017 | 6,359 | ||||
2018 | 3,827 | ||||
$ | 20,425 | ||||
Schedule of Other Assets and Other Liabilities [Table Text Block] | Years Ended December 31, | ||||
2015 | $ | 3,251 | |||
2016 | 2,800 | ||||
$ | 6,051 |
Note_9_Stockholders_Equity_Tab
Note 9 - Stockholders' Equity (Tables) | 12 Months Ended | ||||
Dec. 31, 2014 | |||||
Stockholders' Equity Note [Abstract] | |||||
Number of Common Stock Reserved for Future Issuances [Table Text Block] | Stock options | 9,348 | |||
Restricted stock units | 570 | ||||
9,918 |
Note_10_Stockbased_Compensatio1
Note 10 - Stock-based Compensation (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |||||||||||||||||
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] | Number of Shares | Weighted | Weighted | Aggregate | |||||||||||||
Average | Average | Intrinsic | |||||||||||||||
Exercise | Remaining Contractual | Value | |||||||||||||||
Price per | Life (in | ||||||||||||||||
Share | years) | ||||||||||||||||
Outstanding at December 31, 2013 | 6,733 | $ | 11.44 | ||||||||||||||
Granted | 3,495 | $ | 7.79 | ||||||||||||||
Exercised | (718 | ) | $ | 8.96 | |||||||||||||
Forfeited | (3,414 | ) | $ | 11.71 | |||||||||||||
Outstanding at December 31, 2014 | 6,096 | $ | 9.48 | 5.6 | $ | 222 | |||||||||||
Vested and exercisable at December 31, 2014 | 2,609 | $ | 11.21 | 4.3 | $ | 178 | |||||||||||
Unvested at December 31, 2014, net of estimated forfeitures | 3,064 | $ | 8.34 | 6.6 | $ | 36 | |||||||||||
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | Years Ended December 31, | ||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||
Expected dividend yield | 0 | % | 0 | % | 0 | % | |||||||||||
Risk-free interest rate | 1.64 | % | 0.95 | % | 0.74 | % | |||||||||||
Expected life (in years) | 4.99 | 4.81 | 4.86 | ||||||||||||||
Expected volatility | 54 | % | 59 | % | 60 | ||||||||||||
Weighted average fair value per share | $ | 3.63 | $ | 6.33 | $ | 6.1 | |||||||||||
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity [Table Text Block] | Number of | Weighted | |||||||||||||||
shares | Average Grant | ||||||||||||||||
Date Fair Value | |||||||||||||||||
Unvested at December 31, 2013 | 1,157 | $ | 9.44 | ||||||||||||||
Granted | 536 | $ | 5.26 | ||||||||||||||
Forfeited | (251 | ) | $ | 12.43 | |||||||||||||
Vested | (530 | ) | $ | 12.64 | |||||||||||||
Unvested at December 31, 2014 | 912 | $ | 5.98 | ||||||||||||||
Schedule of Compensation Cost for Share-based Payment Arrangements, Allocation of Share-based Compensation Costs by Plan [Table Text Block] | Years Ended December 31, | ||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||
Stock-based compensation | $ | 13,730 | $ | 11,948 | $ | 9,695 | |||||||||||
Less: Capitalized stock-based compensation | 470 | 443 | 226 | ||||||||||||||
Stock-based compensation expense, net | $ | 13,260 | $ | 11,505 | $ | 9,469 | |||||||||||
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block] | Years Ended December 31, | ||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||
Stock-based compensation expense, net | |||||||||||||||||
Cost of revenue | $ | 932 | $ | 697 | $ | 258 | |||||||||||
Selling and marketing | 2,959 | 3,040 | 1,756 | ||||||||||||||
Product and technology | 825 | 627 | 1,194 | ||||||||||||||
General and administrative | 8,544 | 7,141 | 6,261 | ||||||||||||||
$ | 13,260 | $ | 11,505 | $ | 9,469 |
Note_11_Restructuring_Charges_
Note 11 - Restructuring Charges (Tables) | 9 Months Ended | ||||||||||||
Sep. 30, 2014 | |||||||||||||
Restructuring and Related Activities [Abstract] | |||||||||||||
Restructuring and Related Costs [Table Text Block] | Workforce Reduction Costs | Facility Closures | Total | ||||||||||
and Equipment | |||||||||||||
Write-downs | |||||||||||||
Balance at December 31, 2013 | $ | — | $ | — | $ | — | |||||||
Amounts accrued | 642 | 3,386 | 4,028 | ||||||||||
Amounts paid | (642 | ) | (700 | ) | (1,342 | ) | |||||||
Accretion | — | 24 | 24 | ||||||||||
Non-cash items | — | (191 | ) | (191 | ) | ||||||||
Balance at December 31, 2014 | $ | — | $ | 2,519 | $ | 2,519 | |||||||
Workforce Reduction Costs | Facility Closures | Total | |||||||||||
Balance at December 31, 2013 | $ | — | $ | — | $ | — | |||||||
Amounts accrued | 1,199 | 700 | 1,899 | ||||||||||
Amounts paid | (1,027 | ) | (195 | ) | (1,222 | ) | |||||||
Balance at December 31, 2014 | $ | 173 | $ | 505 | $ | 677 |
Note_12_Income_Taxes_Tables
Note 12 - Income Taxes (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Income Tax Disclosure [Abstract] | |||||||||||||
Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block] | Years Ended December 31, | ||||||||||||
2014 | 2013 | 2012 | |||||||||||
United States | $ | (18,997 | ) | $ | 25,044 | $ | 16,679 | ||||||
Foreign | (26,179 | ) | (18,294 | ) | (11,174 | ) | |||||||
$ | (45,176 | ) | $ | 6,750 | $ | 5,505 | |||||||
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | Years Ended December 31, | ||||||||||||
2014 | 2013 | 2012 | |||||||||||
Current: | |||||||||||||
Federal | $ | (2,019 | ) | $ | 5,687 | $ | — | ||||||
State | 98 | 1,134 | 957 | ||||||||||
Foreign | 205 | 378 | 171 | ||||||||||
(1,716 | ) | 7,199 | 1,128 | ||||||||||
Deferred: | |||||||||||||
Federal | (422 | ) | (930 | ) | 6,704 | ||||||||
State | (1,383 | ) | (4,048 | ) | 1,097 | ||||||||
Foreign | (15,017 | ) | (8,884 | ) | (3,634 | ) | |||||||
(16,822 | ) | (13,862 | ) | 4,167 | |||||||||
Valuation allowance | 19,022 | 10,362 | (3,955 | ) | |||||||||
Income tax provision | $ | 484 | $ | 3,699 | $ | 1,340 | |||||||
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | Years Ended December 31, | ||||||||||||
2014 | 2013 | 2012 | |||||||||||
Income tax expense (benefit) at the federal statutory rate | $ | (15,360 | ) | $ | 2,295 | $ | 1,792 | ||||||
State income tax, net of federal tax benefit | (848 | ) | (1,923 | ) | 1,356 | ||||||||
Foreign income taxes, net | (5,911 | ) | (3,841 | ) | 578 | ||||||||
Non-deductible stock-based compensation | 3,765 | 1,149 | 75 | ||||||||||
Research and development credits | (325 | ) | (2,629 | ) | — | ||||||||
Change in valuation allowance | 19,022 | 7,887 | (1,480 | ) | |||||||||
Deferred tax adjustments | — | 617 | — | ||||||||||
Other | 141 | 144 | (981 | ) | |||||||||
$ | 484 | $ | 3,699 | $ | 1,340 | ||||||||
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | December 31, | ||||||||||||
2014 | 2013 | ||||||||||||
Deferred tax assets: | |||||||||||||
Accruals and provisions | $ | 5,710 | $ | 3,513 | |||||||||
Intangible assets | — | 382 | |||||||||||
State taxes | 33 | 309 | |||||||||||
Stock options | 3,640 | 4,396 | |||||||||||
Federal and state credits | 5,139 | 2,426 | |||||||||||
Net operating loss carryforward | 33,056 | 17,001 | |||||||||||
Gross deferred tax assets | 47,578 | 28,027 | |||||||||||
Less: valuation allowance | (35,796 | ) | (16,774 | ) | |||||||||
Net deferred tax assets | 11,782 | 11,253 | |||||||||||
Deferred tax liabilities: | |||||||||||||
Intangible assets | (1,362 | ) | — | ||||||||||
Capitalized software | (9,187 | ) | (7,066 | ) | |||||||||
Fixed assets | (1,893 | ) | (1,084 | ) | |||||||||
Net deferred tax asset (liabilities) | $ | (660 | ) | $ | 3,103 | ||||||||
Summary of Operating Loss Carryforwards [Table Text Block] | Net operating loss: | Balance at | Beginning Expiration Year | ||||||||||
December 31, | |||||||||||||
2014 | |||||||||||||
(in thousands) | |||||||||||||
Federal | $ | 6,191 | 2035 | ||||||||||
State | $ | 13,275 | Various jurisdictions from 2020 to 2030 | ||||||||||
Foreign | $ | 88,184 | Generally do not expire, but are subject to certain limitations | ||||||||||
Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block] | December 31, | ||||||||||||
2014 | 2013 | 2012 | |||||||||||
Unrecognized tax benefits – beginning balance | $ | 1,700 | $ | 824 | $ | 824 | |||||||
Gross increases – tax positions taken in prior period | (219 | ) | 642 | — | |||||||||
Gross increases– tax positions taken in current period | 89 | 234 | — | ||||||||||
Unrecognized tax benefits – ending balance | $ | 1,570 | $ | 1,700 | $ | 824 |
Note_14_Net_Income_Loss_Per_Sh1
Note 14 - Net Income (Loss) Per Share (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Earnings Per Share [Abstract] | |||||||||||||
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block] | Years Ended December 31, | ||||||||||||
2014 | 2013 | 2012 | |||||||||||
Deferred stock consideration and unvested restricted stock | 768 | 216 | 59 | ||||||||||
Stock options and warrant | 6,489 | 3,534 | 6,336 | ||||||||||
7,257 | 3,750 | 6,395 | |||||||||||
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Years Ended December 31, | ||||||||||||
2014 | 2013 | 2012 | |||||||||||
Numerator: | |||||||||||||
Income (loss) from continuing operations | $ | (45,660 | ) | $ | 3,051 | $ | 4,165 | ||||||
Denominator: | |||||||||||||
Weighted average common shares used in computation of income (loss) from continuing operations per share | 28,461 | 27,764 | 28,348 | ||||||||||
Deferred stock consideration and restricted stock | — | 199 | 58 | ||||||||||
Stock options and warrants | — | 1,088 | 490 | ||||||||||
Weighted average common shares used in computation of income (loss) per share from continuing operations, diluted | 28,461 | 29,051 | 28,896 | ||||||||||
Income (loss) per share from continuing operations, basic | $ | (1.60 | ) | $ | 0.11 | $ | 0.15 | ||||||
Income (loss) per share from continuing operations, diluted | $ | (1.60 | ) | $ | 0.11 | $ | 0.14 |
Note_15_Segment_Information_Ta
Note 15 - Segment Information (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Segment Reporting [Abstract] | |||||||||||||
Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas [Table Text Block] | Years Ended December 31, | ||||||||||||
2014 | 2013 | 2012 | |||||||||||
Revenue: | |||||||||||||
North America | $ | 293,096 | $ | 341,737 | $ | 327,124 | |||||||
International | 181,825 | 172,333 | 127,833 | ||||||||||
$ | 474,921 | $ | 514,070 | $ | 454,957 | ||||||||
Long Lived Assets: | |||||||||||||
North America | $ | 12,723 | $ | 5,896 | |||||||||
International | 6,819 | 7,168 | |||||||||||
$ | 19,542 | $ | 13,064 |
Note_16_Supplemental_Cash_Flow1
Note 16 - Supplemental Cash Flow Information (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Supplemental Cash Flow Elements [Abstract] | |||||||||||||
Schedule of Cash Flow, Supplemental Disclosures [Table Text Block] | Years Ended December 31, | ||||||||||||
2014 | 2013 | 2012 | |||||||||||
Cash paid for interest, net | $ | 30 | $ | — | $ | — | |||||||
Cash paid for income taxes, net | $ | 1,093 | $ | 3,474 | $ | 1,040 | |||||||
Non-cash investing and financing activities: | |||||||||||||
Capitalized software development costs resulting from stock-based compensation and deferred payment obligations | $ | 470 | $ | 443 | $ | 226 | |||||||
Deferred payment obligation decrease | $ | — | $ | (122 | ) | $ | (195 | ) | |||||
Unpaid purchases of property and equipment | $ | 113 | $ | 83 | $ | 211 | |||||||
Assets acquired under capital leases | $ | 1,727 | $ | — | $ | — | |||||||
Investment related to the ClubLocal disposition | $ | 4,500 | $ | — | $ | — |
Note_18_Quarterly_Information_1
Note 18 - Quarterly Information (Unaudited) (Tables) | 12 Months Ended | ||||||||||||||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | |||||||||||||||||||||||||||||||||
Schedule of Quarterly Financial Information [Table Text Block] | Dec 31, | Sept 30, | June 30, | Mar 31, | Dec 31, | Sept 30, | June 30, | Mar 31, | |||||||||||||||||||||||||
2014 | 2014 | 2014 | 2014 | 2013 | 2013 | 2013 | 2013 | ||||||||||||||||||||||||||
Revenue | $ | 109,009 | $ | 117,623 | $ | 123,553 | $ | 124,736 | $ | 132,893 | $ | 132,813 | $ | 126,757 | $ | 121,607 | |||||||||||||||||
Cost of revenue | $ | 61,708 | $ | 64,154 | $ | 63,461 | $ | 63,398 | $ | 65,662 | $ | 66,083 | $ | 63,599 | $ | 61,106 | |||||||||||||||||
Income (loss) from continuing operations | $ | (17,737 | ) | $ | (11,284 | ) | $ | (10,326 | ) | $ | (6,313 | ) | $ | 728 | $ | 650 | $ | 1,321 | $ | 352 | |||||||||||||
Income (loss) from discontinued operations, net of income taxes | $ | (279 | ) | $ | — | $ | 31 | $ | 371 | $ | (1,313 | ) | $ | (1,772 | ) | $ | (1,462 | ) | $ | (987 | ) | ||||||||||||
Net loss | $ | (17,458 | ) | $ | (11,284 | ) | $ | (10,295 | ) | $ | (5,973 | ) | $ | (585 | ) | $ | (1,122 | ) | $ | (141 | ) | $ | (635 | ) | |||||||||
Net income (loss) per share: | |||||||||||||||||||||||||||||||||
Basic: | |||||||||||||||||||||||||||||||||
Income (loss) from continuing operations | $ | (0.62 | ) | $ | (0.40 | ) | $ | (0.36 | ) | $ | (0.22 | ) | $ | 0.03 | $ | 0.02 | $ | 0.05 | $ | 0.01 | |||||||||||||
Income (loss) from discontinued operations, net of income taxes | 0.01 | — | — | 0.01 | (0.05 | ) | (0.06 | ) | (0.05 | ) | (0.04 | ) | |||||||||||||||||||||
Net loss per share | $ | (0.61 | ) | $ | (0.40 | ) | $ | (0.36 | ) | $ | (0.21 | ) | $ | (0.02 | ) | $ | (0.04 | ) | $ | (0.01 | ) | $ | (0.02 | ) | |||||||||
Diluted: | |||||||||||||||||||||||||||||||||
Income (loss) from continuing operations | $ | (0.62 | ) | $ | (0.40 | ) | $ | (0.36 | ) | $ | (0.22 | ) | $ | 0.03 | $ | 0.02 | $ | 0.04 | $ | 0.01 | |||||||||||||
Income (loss) from discontinued operations, net of income taxes | 0.01 | — | — | 0.01 | (0.05 | ) | (0.06 | ) | (0.05 | ) | (0.04 | ) | |||||||||||||||||||||
Net loss per share | $ | (0.61 | ) | $ | (0.40 | ) | $ | (0.36 | ) | $ | (0.21 | ) | $ | (0.02 | ) | $ | (0.04 | ) | $ | (0.01 | ) | $ | (0.02 | ) |
Note_2_Summary_of_Significant_2
Note 2 - Summary of Significant Accounting Policies (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Note 2 - Summary of Significant Accounting Policies (Details) [Line Items] | |||
Cash and Cash Equivalents, Period Increase (Decrease) | ($33,794,000) | ($14,806,000) | $7,795,000 |
Working Capital | -44,800,000 | ||
Accounts and Other Receivables, Net, Current | 600,000 | 5,500,000 | |
Accounts Payable, Current | 44,874,000 | 36,970,000 | |
Restricted Cash and Cash Equivalents | 3,400,000 | 3,700,000 | |
Number of Reportable Segments | 1 | ||
Advertising Expense | 2,900,000 | 1,700,000 | 1,100,000 |
Other Income [Member] | |||
Note 2 - Summary of Significant Accounting Policies (Details) [Line Items] | |||
Prior Period Reclassification Adjustment | 300,000 | ||
Computer Equipment [Member] | |||
Note 2 - Summary of Significant Accounting Policies (Details) [Line Items] | |||
Property, Plant and Equipment, Useful Life | 3 years | ||
Office Equipment [Member] | |||
Note 2 - Summary of Significant Accounting Policies (Details) [Line Items] | |||
Property, Plant and Equipment, Useful Life | 5 years | ||
Furniture and Fixtures [Member] | |||
Note 2 - Summary of Significant Accounting Policies (Details) [Line Items] | |||
Property, Plant and Equipment, Useful Life | 7 years | ||
Health Care Benefit Reserve [Member] | |||
Note 2 - Summary of Significant Accounting Policies (Details) [Line Items] | |||
Restricted Cash and Cash Equivalents | 200,000 | ||
Domestic [Member] | |||
Note 2 - Summary of Significant Accounting Policies (Details) [Line Items] | |||
Cash, Uninsured Amount | 21,500,000 | ||
Foreign [Member] | |||
Note 2 - Summary of Significant Accounting Policies (Details) [Line Items] | |||
Cash, Uninsured Amount | 22,900,000 | ||
Accounts Receivable [Member] | Customer Concentration Risk [Member] | |||
Note 2 - Summary of Significant Accounting Policies (Details) [Line Items] | |||
Concentration Risk, Percentage | 11.00% | ||
Accounts Receivable [Member] | OxataSMB [Member] | |||
Note 2 - Summary of Significant Accounting Policies (Details) [Line Items] | |||
Concentration Risk, Percentage | 13.00% | ||
Minimum [Member] | |||
Note 2 - Summary of Significant Accounting Policies (Details) [Line Items] | |||
Finite-Lived Intangible Asset, Useful Life | 3 years | ||
Fair Value Estimate Income Based Approach Weight | 50.00% | ||
Maximum [Member] | |||
Note 2 - Summary of Significant Accounting Policies (Details) [Line Items] | |||
Finite-Lived Intangible Asset, Useful Life | 10 years | ||
Fair Value Estimate Income Based Approach Weight | 66.70% | ||
Accrued Media Expense [Member] | |||
Note 2 - Summary of Significant Accounting Policies (Details) [Line Items] | |||
Accounts Payable, Current | 17,100,000 | 21,200,000 | |
Employee Related Liabilities Current [Member] | |||
Note 2 - Summary of Significant Accounting Policies (Details) [Line Items] | |||
Self Insurance Reserve, Current | 500,000 | ||
Prepaid Expenses and Other Current Assets [Member] | |||
Note 2 - Summary of Significant Accounting Policies (Details) [Line Items] | |||
Deferred Sales Commission | $600,000 |
Note_2_Summary_of_Significant_3
Note 2 - Summary of Significant Accounting Policies (Details) - Summary of the Allowance for Doubtful Accounts (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Summary of the Allowance for Doubtful Accounts [Abstract] | |||
Allowance for doubtful accounts as of the beginning of the year | $2,212 | $259 | $363 |
Additions charged to expense | 2,621 | 6,080 | 483 |
Write-offs | -4,511 | -4,396 | -791 |
Recoveries | 639 | 268 | 205 |
Allowance for doubtful accounts as of the end of the year | $961 | $2,212 | $259 |
Note_3_Fair_Value_of_Financial2
Note 3 - Fair Value of Financial Instruments (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2013 | Mar. 31, 2014 |
In Thousands, unless otherwise specified | ||||
Note 3 - Fair Value of Financial Instruments (Details) [Line Items] | ||||
Cost Method Investments | $9,000 | $2,500 | $2,500 | |
Cost Method Investment Ownership Percentage | 4.00% | |||
Additional Equity Interest Aquired [Member] | ||||
Note 3 - Fair Value of Financial Instruments (Details) [Line Items] | ||||
Cost Method Investments | 2,000 | |||
Cost Method Investment Ownership Percentage | 3.20% | |||
ClubLocal [Member] | ||||
Note 3 - Fair Value of Financial Instruments (Details) [Line Items] | ||||
Cost Method Investments | 4,500 | |||
Cost Method Investment Ownership Percentage | 14.20% | |||
Other Assets [Member] | ||||
Note 3 - Fair Value of Financial Instruments (Details) [Line Items] | ||||
Cost Method Investments | $4,500 |
Note_3_Fair_Value_of_Financial3
Note 3 - Fair Value of Financial Instruments (Details) - Basis of Fair Value Measurement (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Assets: | ||
Cash and cash equivalents | $43,720 | $77,514 |
Short-term investments | 904 | 260 |
Restricted deposits | 3,416 | 3,654 |
Liabilities: | ||
Contingent consideration | 349 | |
Fair Value, Inputs, Level 1 [Member] | ||
Assets: | ||
Cash and cash equivalents | 43,720 | 77,514 |
Short-term investments | 904 | 260 |
Fair Value, Inputs, Level 2 [Member] | ||
Assets: | ||
Restricted deposits | 3,416 | 3,654 |
Fair Value, Inputs, Level 3 [Member] | ||
Liabilities: | ||
Contingent consideration | $349 |
Note_3_Fair_Value_of_Financial4
Note 3 - Fair Value of Financial Instruments (Details) - Contingent Consideration (Business Combination Contingent Consideration Liability [Member], USD $) | 12 Months Ended |
In Thousands, unless otherwise specified | Dec. 31, 2014 |
Business Combination Contingent Consideration Liability [Member] | |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |
Issuance of contingent consideration in connection with acquisitions | $797 |
Net change in fair value of contingent consideration included in other income | -448 |
Ending balance | $349 |
Note_4_Acquisitions_Details
Note 4 - Acquisitions (Details) | 12 Months Ended | 0 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | 0 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | 0 Months Ended | 0 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2014 | Nov. 21, 2014 | Nov. 21, 2014 | Nov. 21, 2014 | Jul. 03, 2012 | Jul. 03, 2012 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2014 | Nov. 21, 2014 | Nov. 21, 2014 | Dec. 31, 2014 | Nov. 21, 2014 | Nov. 21, 2014 | Mar. 21, 2014 | Mar. 21, 2014 | Jul. 03, 2012 | Dec. 31, 2014 | Dec. 31, 2014 | Nov. 21, 2014 | Dec. 31, 2014 | Nov. 21, 2014 | Mar. 21, 2014 | Mar. 21, 2014 | Mar. 21, 2014 | Mar. 21, 2014 | Mar. 21, 2014 | Dec. 31, 2014 | Dec. 31, 2014 | Mar. 21, 2014 | Mar. 21, 2014 | Jan. 06, 2014 | Jul. 03, 2012 | Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2013 | |
USD ($) | USD ($) | USD ($) | Other Income [Member] | Restricted Stock Units (RSUs) [Member] | Developed Technology Rights [Member] | Developed Technology Rights [Member] | Developed Technology Rights [Member] | Developed Technology Rights [Member] | Developed Technology Rights [Member] | Developed Technology Rights [Member] | Developed Technology Rights [Member] | Trade Names [Member] | Trade Names [Member] | Trade Names [Member] | Customer Relationships [Member] | Customer Relationships [Member] | Customer Relationships [Member] | Customer Relationships [Member] | Customer Relationships [Member] | Customer Relationships [Member] | Customer Relationships [Member] | Kickserv [Member] | Kickserv [Member] | Kickserv [Member] | SureFire [Member] | SureFire [Member] | SureFire [Member] | SureFire [Member] | SureFire [Member] | SureFire [Member] | SureFire [Member] | SureFire [Member] | SureFire [Member] | RealPractice [Member] | RealPractice [Member] | RealPractice [Member] | Maximum [Member] | Asia Pacific [Member] | Asia Pacific [Member] | |
SureFire [Member] | Kickserv [Member] | Kickserv [Member] | Kickserv [Member] | RealPractice [Member] | RealPractice [Member] | Maximum [Member] | USD ($) | USD ($) | Kickserv [Member] | Kickserv [Member] | USD ($) | Kickserv [Member] | Kickserv [Member] | SureFire [Member] | SureFire [Member] | RealPractice [Member] | Maximum [Member] | USD ($) | USD ($) | USD ($) | USD ($) | Maximum [Member] | Maximum [Member] | Remaining [Member] | USD ($) | NZD | USD ($) | NZD | USD ($) | NZD | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | |||||
USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | NZD | ||||||||||||||||||||||||||||||||
Note 4 - Acquisitions (Details) [Line Items] | ||||||||||||||||||||||||||||||||||||||||
Business Combination, Consideration Transferred | $6,750,000 | $2,400,000 | 2,800,000 | $2,900,000 | ||||||||||||||||||||||||||||||||||||
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High | 4,000,000 | |||||||||||||||||||||||||||||||||||||||
Payments to Acquire Businesses, Gross | 5,300,000 | 1,500,000 | 1,700,000 | 300,000 | 2,600,000 | |||||||||||||||||||||||||||||||||||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares (in Shares) | 250,000 | 150,292 | ||||||||||||||||||||||||||||||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill | 3,000,000 | 600,000 | 700,000 | 1,300,000 | 4,280,000 | 1,280,000 | 2,550,000 | |||||||||||||||||||||||||||||||||
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 8 years | 10 years | 4 years | |||||||||||||||||||||||||||||||||||||
Fair Value Inputs, Discount Rate | 15.00% | 25.00% | 25.00% | 17.00% | ||||||||||||||||||||||||||||||||||||
Business Acquisition, Goodwill, Expected Tax Deductible Amount | 0 | |||||||||||||||||||||||||||||||||||||||
Business Combination, Contingent Consideration, Liability | 1,600,000 | 2,000,000 | ||||||||||||||||||||||||||||||||||||||
Fair Value Assumptions, Expected Volatility Rate | 30.00% | 30.00% | ||||||||||||||||||||||||||||||||||||||
Fair Value Assumptions, Risk Free Interest Rate | 0.14% | 0.14% | ||||||||||||||||||||||||||||||||||||||
Contingent Consideration Classified as Equity, Fair Value Disclosure | 300,000 | 400,000 | 800,000 | 900,000 | ||||||||||||||||||||||||||||||||||||
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability | -416,000 | -500,000 | ||||||||||||||||||||||||||||||||||||||
Business Acquisition Percentage of Indemnity Holdback | 35.00% | 65.00% | 65.00% | |||||||||||||||||||||||||||||||||||||
Business Acquisition Fair Value of Indemnity Holdback | 400,000 | 400,000 | ||||||||||||||||||||||||||||||||||||||
Finite-Lived Intangible Asset, Useful Life | 8 years | 3 years | 10 years | 3 years | 4 years | 10 years | ||||||||||||||||||||||||||||||||||
Finite-lived Intangible Assets Acquired | 100,000 | |||||||||||||||||||||||||||||||||||||||
Finite-Lived Intangible Assets, Accumulated Amortization | 2,443,000 | 2,500,000 | 1,790,000 | 2,130,000 | 7,000 | 306,000 | ||||||||||||||||||||||||||||||||||
Business Acquisition, Purchase Price Allocation, Amortizable Intangible Assets, Useful Life | 3 years | 1 year | ||||||||||||||||||||||||||||||||||||||
Reporting Unit, Percentage of Fair Value in Excess of Carrying Amount | 18.00% | |||||||||||||||||||||||||||||||||||||||
Goodwill | 48,189,000 | 42,083,000 | 3,985,000 | 2,350,000 | 317,000 | 34,509,000 | 32,388,000 | |||||||||||||||||||||||||||||||||
Fair Value Inputs, Long-term Revenue Growth Rate | 3.00% | |||||||||||||||||||||||||||||||||||||||
Increase in Discount Rate, Basis Points | 100 | |||||||||||||||||||||||||||||||||||||||
Sensitivity Analysis of Fair Value Income Approach Impact of 100 Basis Point Adverse Change In Discount Rate | 2,100,000 | |||||||||||||||||||||||||||||||||||||||
Decrease in Terminal Growth Rate Basis Points | 100 | |||||||||||||||||||||||||||||||||||||||
Sensitivity Analysis of Fair Value Income Approach Impact of 100 Basis Point Adverse Change In Terminal Growth Rate | 3,100,000 | |||||||||||||||||||||||||||||||||||||||
Amortization of Intangible Assets | $1,200,000 | $1,200,000 | $2,200,000 |
Note_4_Acquisitions_Details_As
Note 4 - Acquisitions (Details) - Assets Acquired and Liabilities Assumed (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Note 4 - Acquisitions (Details) - Assets Acquired and Liabilities Assumed [Line Items] | ||
Goodwill | $48,189 | $42,083 |
Kickserv [Member] | ||
Note 4 - Acquisitions (Details) - Assets Acquired and Liabilities Assumed [Line Items] | ||
Cash and cash equivalents | 58 | |
Intangible assets | 4,280 | |
Goodwill | 3,985 | |
Total assets acquired | 8,323 | |
Non-interest bearing liabilities | 24 | |
Long-term debt | 350 | |
Deferred tax liabilities | 1,249 | |
Total liabilities assumed | 1,623 | |
Total fair value of net assets acquired | 6,700 | |
SureFire [Member] | ||
Note 4 - Acquisitions (Details) - Assets Acquired and Liabilities Assumed [Line Items] | ||
Intangible assets | 1,280 | |
Goodwill | 2,350 | |
Accounts receivable | 330 | |
Property and equipment | 13 | |
Total assets acquired | 3,973 | |
Accrued compensation and benefits | 111 | |
Deferred revenue | 284 | |
Deferred tax liabilities | 358 | |
Other | 782 | |
Total liabilities assumed | 1,535 | |
Total fair value of net assets acquired | 2,438 | |
RealPractice [Member] | ||
Note 4 - Acquisitions (Details) - Assets Acquired and Liabilities Assumed [Line Items] | ||
Intangible assets | 2,550 | |
Goodwill | 317 | |
Other | 53 | |
Total assets acquired | 2,920 | |
Deferred revenue | 20 | |
Total fair value of net assets acquired | $2,900 |
Note_4_Acquisitions_Details_Go
Note 4 - Acquisitions (Details) - Goodwill (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2014 | |
Goodwill [Line Items] | ||
Balance at December 31, 2013 | $42,083 | |
Balance at December 31, 2014 | 48,189 | |
Goodwill acquired | 6,430 | |
Acquisition adjustments (1) | -95 | [1] |
Foreign currency translation | -229 | |
North America [Member] | ||
Goodwill [Line Items] | ||
Balance at December 31, 2013 | 9,695 | |
Balance at December 31, 2014 | 13,680 | |
Goodwill acquired | 3,985 | |
Acquisition adjustments (1) | [1] | |
Asia Pacific [Member] | ||
Goodwill [Line Items] | ||
Balance at December 31, 2013 | 32,388 | |
Balance at December 31, 2014 | 34,509 | |
Goodwill acquired | 2,445 | |
Acquisition adjustments (1) | -95 | [1] |
Foreign currency translation | ($229) | |
[1] | Represents adjustments to purchase accounting within a year of the acquisition. |
Note_4_Acquisitions_Details_In
Note 4 - Acquisitions (Details) - Intangible Assets (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Finite-Lived Intangible Assets [Line Items] | ||
Gross Value | 7,935 | |
Accumulated Amortization | 2,443 | |
Net | 5,492 | |
Developed Technology Rights [Member] | Minimum [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Useful Life (years) | 3 years | |
Developed Technology Rights [Member] | Maximum [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Useful Life (years) | 8 years | |
Developed Technology Rights [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Useful Life (years) | 3 years | |
Gross Value | 5,490 | 3,060 |
Accumulated Amortization | 2,130 | 1,790 |
Net | 3,360 | 1,270 |
Customer Relationships [Member] | Minimum [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Useful Life (years) | 2 years | |
Customer Relationships [Member] | Maximum [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Useful Life (years) | 4 years | |
Customer Relationships [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross Value | 1,875 | |
Accumulated Amortization | 306 | |
Net | 1,569 | |
Trade Names [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Useful Life (years) | 10 years | |
Gross Value | 570 | |
Accumulated Amortization | 7 | |
Net | 563 | |
Minimum [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Useful Life (years) | 3 years | |
Maximum [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Useful Life (years) | 10 years |
Note_4_Acquisitions_Details_Es
Note 4 - Acquisitions (Details) - Estimated Amortization Expense Over the Remaining lives (USD $) | Dec. 31, 2014 |
In Thousands, unless otherwise specified | |
Estimated Amortization Expense Over the Remaining lives [Abstract] | |
2015 | $1,422 |
2016 | 1,007 |
2017 | 690 |
2018 | 590 |
2019 | 431 |
Thereafter | 1,352 |
Total | $5,492 |
Note_5_Property_and_Equipment_1
Note 5 - Property and Equipment (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Property, Plant and Equipment [Abstract] | |||
Depreciation | $6.40 | $5.80 | $5 |
Note_5_Property_and_Equipment_2
Note 5 - Property and Equipment (Details) - Property and Equipment (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Property, Plant and Equipment [Line Items] | ||
Propert Plant and Equipment | $43,171 | $32,083 |
Less: Accumulated depreciation and amortization | -23,532 | -19,180 |
19,639 | 12,903 | |
Computer Equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Propert Plant and Equipment | 20,345 | 16,558 |
Office Equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Propert Plant and Equipment | 4,229 | 1,981 |
Furniture and Fixtures [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Propert Plant and Equipment | 4,976 | 4,694 |
Leasehold Improvements [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Propert Plant and Equipment | 13,096 | 8,545 |
Construction in Progress [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Propert Plant and Equipment | $525 | $305 |
Note_6_Software_Development_Co2
Note 6 - Software Development Costs (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Research and Development [Abstract] | |||
Capitalized Computer Software, Amortization | $9.70 | $8.10 | $6.40 |
Capitalized Software Development Costs For Projects In Process | $5 | $2.80 |
Note_6_Software_Development_Co3
Note 6 - Software Development Costs (Details) - Capitalized Software Development Costs (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Capitalized Software Development Costs [Abstract] | ||
Capitalized software development costs | $56,498 | $42,538 |
Accumulated amortization | -34,943 | -25,238 |
Capitalized software development costs, net | $21,555 | $17,300 |
Note_7_Variable_Interest_Entit1
Note 7 - Variable Interest Entities (Details) (OxataSMB [Member]) | 0 Months Ended | 1 Months Ended | 12 Months Ended | |||||
In Millions, unless otherwise specified | Jul. 06, 2012 | Jul. 06, 2012 | Aug. 31, 2013 | Aug. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Jul. 05, 2012 | Jul. 05, 2012 |
Maximum [Member] | Maximum [Member] | USD ($) | EUR (€) | USD ($) | EUR (€) | USD ($) | EUR (€) | |
USD ($) | EUR (€) | |||||||
Note 7 - Variable Interest Entities (Details) [Line Items] | ||||||||
Loan To Franchisee | $3.70 | € 2.90 | $1.20 | € 0.92 | $1.90 | € 1.45 | ||
Other Ownership Interests, Contributed Capital | $2 | € 1.45 |
Note_8_Commitments_and_Conting2
Note 8 - Commitments and Contingencies (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Note 8 - Commitments and Contingencies (Details) [Line Items] | |||
Capital Lease Obligations | $1,700,000 | ||
Capital Leases, Lessee Balance Sheet, Assets by Major Class, Accumulated Depreciation | 200,000 | ||
Capital Lease Obligations, Current | 624,000 | ||
Capital Lease Obligations, Noncurrent | 1,103,000 | ||
Operating Leases, Rent Expense, Net | 13,000,000 | 11,900,000 | 11,400,000 |
Restricted Cash and Cash Equivalents | 3,400,000 | 3,700,000 | |
Health Care Benefit Reserve [Member] | |||
Note 8 - Commitments and Contingencies (Details) [Line Items] | |||
Restricted Cash and Cash Equivalents | 200,000 | ||
Facility Closing [Member] | |||
Note 8 - Commitments and Contingencies (Details) [Line Items] | |||
Operating Lease, Commitments | $2,400,000 | ||
Minimum [Member] | |||
Note 8 - Commitments and Contingencies (Details) [Line Items] | |||
Capital Lease Obligations, Interest Rate | 4.80% | ||
Maximum [Member] | |||
Note 8 - Commitments and Contingencies (Details) [Line Items] | |||
Capital Lease Obligations, Interest Rate | 5.20% |
Note_8_Commitments_and_Conting3
Note 8 - Commitments and Contingencies (Details) - Capital Leases (USD $) | Dec. 31, 2014 |
In Thousands, unless otherwise specified | |
Capital Leases [Abstract] | |
2015 | $693 |
2016 | 693 |
2017 | 457 |
Total minimum payments | 1,843 |
Less amount representing interest | -116 |
Present value of obligation | $1,727 |
Note_8_Commitments_and_Conting4
Note 8 - Commitments and Contingencies (Details) - Operating Leases (USD $) | Dec. 31, 2014 |
In Thousands, unless otherwise specified | |
Operating Leases [Abstract] | |
2015 | $12,219 |
2016 | 9,863 |
2017 | 7,368 |
2018 | 6,276 |
2019 | 5,245 |
Thereafter | 14,748 |
$55,719 |
Note_8_Commitments_and_Conting5
Note 8 - Commitments and Contingencies (Details) - Purchase Obligations (USD $) | Dec. 31, 2014 |
In Thousands, unless otherwise specified | |
Purchase Obligations [Abstract] | |
2015 | $5,346 |
2016 | 4,893 |
2017 | 6,359 |
2018 | 3,827 |
$20,425 |
Note_8_Commitments_and_Conting6
Note 8 - Commitments and Contingencies (Details) - Other Liabilities (USD $) | Dec. 31, 2014 |
In Thousands, unless otherwise specified | |
Other Liabilities [Abstract] | |
2015 | $3,251 |
2016 | 2,800 |
$6,051 |
Note_9_Stockholders_Equity_Det
Note 9 - Stockholders' Equity (Details) (USD $) | 12 Months Ended | 38 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2014 | |
Stockholders' Equity Note [Abstract] | ||||
Stock Repurchase Program, Authorized Amount | $47,000,000 | $47,000,000 | ||
Stock Repurchased During Period, Shares | 0 | 3,400,000 | ||
Stock Repurchased During Period, Value | ($69,000) | ($18,963,000) | ($10,963,000) | $36,300,000 |
Note_9_Stockholders_Equity_Det1
Note 9 - Stockholders' Equity (Details) - Number of Common Stock Reserved for Future Issuances | Dec. 31, 2014 |
In Thousands, unless otherwise specified | |
Note 9 - Stockholders' Equity (Details) - Number of Common Stock Reserved for Future Issuances [Line Items] | |
Stock reserved for future issuance | 9,918 |
Employee Stock Option [Member] | |
Note 9 - Stockholders' Equity (Details) - Number of Common Stock Reserved for Future Issuances [Line Items] | |
Stock reserved for future issuance | 9,348 |
Restricted Stock Units (RSUs) [Member] | |
Note 9 - Stockholders' Equity (Details) - Number of Common Stock Reserved for Future Issuances [Line Items] | |
Stock reserved for future issuance | 570 |
Note_10_Stockbased_Compensatio2
Note 10 - Stock-based Compensation (Details) (USD $) | 0 Months Ended | 1 Months Ended | 12 Months Ended | 0 Months Ended | 3 Months Ended | ||||||
29-May-12 | Jun. 30, 2012 | 29-May-12 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Jan. 01, 2015 | Jan. 09, 2015 | Jul. 01, 2008 | Jun. 30, 2014 | Dec. 02, 2014 | |
Note 10 - Stock-based Compensation (Details) [Line Items] | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 555,750 | 3,495,000 | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate | 0.00% | 0.00% | 0.00% | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value (in Dollars) | $2,700,000 | $5,300,000 | $1,900,000 | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested in Period, Fair Value (in Dollars) | 9,000,000 | 4,200,000 | 2,000,000 | ||||||||
Share-based Compensation (in Dollars) | 13,260,000 | 11,505,000 | 9,469,000 | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Plan Modification, Incremental Compensation Cost (in Dollars) | 1,900,000 | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Plan Modification, Number of Employees Affected | 73,000,000 | ||||||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized (in Dollars) | 16,100,000 | ||||||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 1 year 146 days | ||||||||||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price (in Dollars per share) | $10.91 | $13 | $7.79 | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price (in Dollars per share) | $16.71 | $16.71 | $9.48 | $11.44 | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Expirations in Period | 834,875 | ||||||||||
Reduction In Outstanding Stock Options | 279,125 | ||||||||||
Option Exchange, Share Price (in Dollars per share) | $6 | ||||||||||
Restricted Stock and Restricted Stock Units [Member] | |||||||||||
Note 10 - Stock-based Compensation (Details) [Line Items] | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 4 years | ||||||||||
Restricted Stock Units (RSUs) [Member] | |||||||||||
Note 10 - Stock-based Compensation (Details) [Line Items] | |||||||||||
Share-based Compensation (in Dollars) | $5,600,000 | $3,000,000 | $1,700,000 | ||||||||
Certain Options [Member] | |||||||||||
Note 10 - Stock-based Compensation (Details) [Line Items] | |||||||||||
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodStrikePrice (in Dollars per share) | $10.91 | ||||||||||
Subsequent Event [Member] | The 2008 Plan [Member] | |||||||||||
Note 10 - Stock-based Compensation (Details) [Line Items] | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Additional Shares Authorized | 1,317,000 | ||||||||||
Subsequent Event [Member] | |||||||||||
Note 10 - Stock-based Compensation (Details) [Line Items] | |||||||||||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price (in Dollars per share) | $6 | ||||||||||
Options Exchanged in Option Exchange | 2,800,000 | ||||||||||
Original Term [Member] | |||||||||||
Note 10 - Stock-based Compensation (Details) [Line Items] | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 7 years | ||||||||||
Modified Term [Member] | |||||||||||
Note 10 - Stock-based Compensation (Details) [Line Items] | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 10 years | ||||||||||
Employee Stock Option [Member] | |||||||||||
Note 10 - Stock-based Compensation (Details) [Line Items] | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 158,752 | ||||||||||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price (in Dollars per share) | 10.56 | ||||||||||
Minimum [Member] | The 2004 Plan [Member] | |||||||||||
Note 10 - Stock-based Compensation (Details) [Line Items] | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 4 years | ||||||||||
Minimum [Member] | The 2008 Plan [Member] | |||||||||||
Note 10 - Stock-based Compensation (Details) [Line Items] | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 4 years | ||||||||||
Maximum [Member] | The 2004 Plan [Member] | |||||||||||
Note 10 - Stock-based Compensation (Details) [Line Items] | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 10 years | ||||||||||
Maximum [Member] | The 2008 Plan [Member] | |||||||||||
Note 10 - Stock-based Compensation (Details) [Line Items] | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 7 years | ||||||||||
Executive Officer [Member] | |||||||||||
Note 10 - Stock-based Compensation (Details) [Line Items] | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 396,998 | ||||||||||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price (in Dollars per share) | 13 | ||||||||||
The 2004 Plan [Member] | |||||||||||
Note 10 - Stock-based Compensation (Details) [Line Items] | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 0 | 0 | |||||||||
The 2008 Plan [Member] | |||||||||||
Note 10 - Stock-based Compensation (Details) [Line Items] | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 1,935,000 | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 5,471,350 | ||||||||||
Share Based Compensation Arrangement By Share Based Payment Award Annual Increase In Shares | 2,500,000 | ||||||||||
Percent Of Common Stock Outstanding | 4.50% | ||||||||||
Employee Inducement [Member] | |||||||||||
Note 10 - Stock-based Compensation (Details) [Line Items] | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 385,000 |
Note_10_Stockbased_Compensatio3
Note 10 - Stock-based Compensation (Details) - Summary of Vested and Unvested Options Activity (USD $) | 0 Months Ended | 1 Months Ended | 12 Months Ended | |
29-May-12 | Jun. 30, 2012 | 29-May-12 | Dec. 31, 2014 | |
Summary of Vested and Unvested Options Activity [Abstract] | ||||
Outstanding at December 31, 2013 | 6,733,000 | |||
Outstanding at December 31, 2013 | $16.71 | $11.44 | ||
Outstanding at December 31, 2014 | 6,096,000 | |||
Outstanding at December 31, 2014 | $16.71 | $9.48 | ||
Outstanding at December 31, 2014 | 5 years 219 days | |||
Outstanding at December 31, 2014 | $222,000 | |||
Vested and exercisable at December 31, 2014 | 2,609,000 | |||
Vested and exercisable at December 31, 2014 | $11.21 | |||
Vested and exercisable at December 31, 2014 | 4 years 109 days | |||
Vested and exercisable at December 31, 2014 | 178,000 | |||
Unvested at December 31, 2014, net of estimated forfeitures | 3,064,000 | |||
Unvested at December 31, 2014, net of estimated forfeitures | $8.34 | |||
Unvested at December 31, 2014, net of estimated forfeitures | 6 years 219 days | |||
Unvested at December 31, 2014, net of estimated forfeitures | $36 | |||
Granted | 555,750 | 3,495,000 | ||
Granted | $10.91 | $13 | $7.79 | |
Exercised | -718,000 | |||
Exercised | $8.96 | |||
Forfeited | -3,414,000 | |||
Forfeited | $11.71 |
Note_10_Stockbased_Compensatio4
Note 10 - Stock-based Compensation (Details) - Weighted Average Assumptions Used to Estimate Fair Value of Stock Options Granted (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Weighted Average Assumptions Used to Estimate Fair Value of Stock Options Granted [Abstract] | |||
Expected dividend yield | 0.00% | 0.00% | 0.00% |
Risk-free interest rate | 1.64% | 0.95% | 0.74% |
Expected life (in years) | 4 years 361 days | 4 years 295 days | 4 years 313 days |
Expected volatility | 54.00% | 59.00% | 60.00% |
Weighted average fair value per share (in Dollars per share) | $3.63 | $6.33 | $6.10 |
Note_10_Stockbased_Compensatio5
Note 10 - Stock-based Compensation (Details) - Summary of Restricted Stock Awards and Restricted Stock Unit Awards (Restricted Stock and Restricted Stock Units [Member], USD $) | 12 Months Ended |
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2014 |
Restricted Stock and Restricted Stock Units [Member] | |
Note 10 - Stock-based Compensation (Details) - Summary of Restricted Stock Awards and Restricted Stock Unit Awards [Line Items] | |
Unvested at December 31, 2013 | 1,157 |
Unvested at December 31, 2013 | $9.44 |
Unvested at December 31, 2014 | 912 |
Unvested at December 31, 2014 | $5.98 |
Granted | 536 |
Granted | $5.26 |
Forfeited | -251 |
Forfeited | $12.43 |
Vested | -530 |
Vested | $12.64 |
Note_10_Stockbased_Compensatio6
Note 10 - Stock-based Compensation (Details) - Summary of Stock Based Compensation (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Summary of Stock Based Compensation [Abstract] | |||
Stock-based compensation | $13,730 | $11,948 | $9,695 |
Less: Capitalized stock-based compensation | 470 | 443 | 226 |
Stock-based compensation expense, net | $13,260 | $11,505 | $9,469 |
Note_10_Stockbased_Compensatio7
Note 10 - Stock-based Compensation (Details) - Stock Based Compensation Expense, Net of Capitalization, Included in the Condensed Consolidated Statements of Operations (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Stock-based compensation expense, net | |||
Allocated stock-based compensation expense | $13,260 | $11,505 | $9,469 |
Cost of Sales [Member] | |||
Stock-based compensation expense, net | |||
Allocated stock-based compensation expense | 932 | 697 | 258 |
Selling and Marketing Expense [Member] | |||
Stock-based compensation expense, net | |||
Allocated stock-based compensation expense | 2,959 | 3,040 | 1,756 |
Product and Technology [Member] | |||
Stock-based compensation expense, net | |||
Allocated stock-based compensation expense | 825 | 627 | 1,194 |
General and Administrative Expense [Member] | |||
Stock-based compensation expense, net | |||
Allocated stock-based compensation expense | $8,544 | $7,141 | $6,261 |
Note_11_Restructuring_Charges_1
Note 11 - Restructuring Charges (Details) - Summary of the Accrued Restructuring Liability (USD $) | 12 Months Ended |
In Thousands, unless otherwise specified | Dec. 31, 2014 |
Restructuring Cost and Reserve [Line Items] | |
Amounts accrued | $5,927 |
Balance at December 31, 2013 | 3,196 |
Q1 Restructuring Plan [Member] | Employee Severance [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Amounts accrued | 642 |
Amounts paid | -642 |
Q1 Restructuring Plan [Member] | Facility Closures and Equipment Write-downs [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Amounts accrued | 3,386 |
Amounts paid | -700 |
Accretion | 24 |
Non-cash items | -191 |
Balance at December 31, 2013 | 2,519 |
Q1 Restructuring Plan [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Amounts accrued | 4,028 |
Amounts paid | -1,342 |
Accretion | 24 |
Non-cash items | -191 |
Balance at December 31, 2013 | 2,519 |
Q2 Restructuring Plan [Member] | Employee Severance [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Amounts accrued | 1,199 |
Amounts paid | -1,027 |
Balance at December 31, 2013 | 173 |
Q2 Restructuring Plan [Member] | Facility Closures and Equipment Write-downs [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Amounts accrued | 700 |
Amounts paid | -195 |
Balance at December 31, 2013 | 505 |
Q2 Restructuring Plan [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Amounts accrued | 1,899 |
Amounts paid | -1,222 |
Balance at December 31, 2013 | $677 |
Note_12_Income_Taxes_Details
Note 12 - Income Taxes (Details) (USD $) | 12 Months Ended | |
Dec. 31, 2014 | Dec. 31, 2013 | |
Note 12 - Income Taxes (Details) [Line Items] | ||
Limitations Under Section 382 of the Internal Revenue Code, Amount | $200,000 | |
Deferred Tax Assets, Tax Credit Carryforwards, Foreign | 100,000 | |
Unrealized Deferred Tax Assets | 2,100,000 | |
Deferred Tax Assets, Valuation Allowance | 35,796,000 | 16,774,000 |
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount | 19,100,000 | 7,900,000 |
Valuation Allowance Against Domestice Net Deferred Tax Assets, Indefinite Lived Assets | 4,300,000 | |
Investments in Foreign Subsidiaries in Excess of Tax Basis | 800,000 | |
Unrecognized Tax Benefits, Period Increase (Decrease) | 1,600,000 | |
Unrecognized Tax Benefits that Would Impact Effective Tax Rate | 1,500,000 | |
Domestic Tax Authority [Member] | Research Tax Credit Carryforward [Member] | ||
Note 12 - Income Taxes (Details) [Line Items] | ||
Tax Credit Carryforward, Amount | 5,200,000 | |
State and Local Jurisdiction [Member] | Research Tax Credit Carryforward [Member] | ||
Note 12 - Income Taxes (Details) [Line Items] | ||
Tax Credit Carryforward, Amount | 3,800,000 | |
State and Local Jurisdiction [Member] | California Enterprise Zone Credits [Member] | ||
Note 12 - Income Taxes (Details) [Line Items] | ||
Tax Credit Carryforward, Amount | 1,300,000 | |
Prepaid Expenses and Other Current Assets [Member] | ||
Note 12 - Income Taxes (Details) [Line Items] | ||
Income Taxes Receivable | 2,000,000 | |
Deferred Tax Assets, Net of Valuation Allowance, Current | 1,800,000 | 1,200,000 |
Other Current Liabilities [Member] | ||
Note 12 - Income Taxes (Details) [Line Items] | ||
Accrued Income Taxes | 900,000 | |
Other Assets [Member] | ||
Note 12 - Income Taxes (Details) [Line Items] | ||
Deferred Tax Assets, Net of Valuation Allowance, Noncurrent | $1,900,000 |
Note_12_Income_Taxes_Details_C
Note 12 - Income Taxes (Details) - Components of Income (Loss) Domestic and Foreign (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Components of Income (Loss) Domestic and Foreign [Abstract] | |||
United States | ($18,997) | $25,044 | $16,679 |
Foreign | -26,179 | -18,294 | -11,174 |
($45,176) | $6,750 | $5,505 |
Note_12_Income_Taxes_Details_C1
Note 12 - Income Taxes (Details) - Components of Income Tax Provision (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Current: | |||
Federal | ($2,019) | $5,687 | |
State | 98 | 1,134 | 957 |
Foreign | 205 | 378 | 171 |
-1,716 | 7,199 | 1,128 | |
Deferred: | |||
Federal | -422 | -930 | 6,704 |
State | -1,383 | -4,048 | 1,097 |
Foreign | -15,017 | -8,884 | -3,634 |
-16,822 | -13,862 | 4,167 | |
Valuation allowance | 19,022 | 10,362 | -3,955 |
Income tax provision | $484 | $3,699 | $1,340 |
Note_12_Income_Taxes_Details_I
Note 12 - Income Taxes (Details) - Income Tax Rate Reconciliation (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Income Tax Rate Reconciliation [Abstract] | |||
Income tax expense (benefit) at the federal statutory rate | ($15,360) | $2,295 | $1,792 |
State income tax, net of federal tax benefit | -848 | -1,923 | 1,356 |
Foreign income taxes, net | -5,911 | -3,841 | 578 |
Non-deductible stock-based compensation | 3,765 | 1,149 | 75 |
Research and development credits | -325 | -2,629 | |
Change in valuation allowance | 19,022 | 7,887 | -1,480 |
Deferred tax adjustments | 617 | ||
Other | 141 | 144 | -981 |
$484 | $3,699 | $1,340 |
Note_12_Income_Taxes_Details_D
Note 12 - Income Taxes (Details) - Deferred Tax Assets and Liabilities (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Deferred Tax Assets and Liabilities [Abstract] | ||
Accruals and provisions | $5,710 | $3,513 |
Intangible assets | 382 | |
State taxes | 33 | 309 |
Stock options | 3,640 | 4,396 |
Federal and state credits | 5,139 | 2,426 |
Net operating loss carryforward | 33,056 | 17,001 |
Gross deferred tax assets | 47,578 | 28,027 |
Less: valuation allowance | -35,796 | -16,774 |
Net deferred tax assets | 11,782 | 11,253 |
Intangible assets | -1,362 | |
Capitalized software | -9,187 | -7,066 |
Fixed assets | -1,893 | -1,084 |
Net deferred tax asset (liabilities) | ($660) | $3,103 |
Note_12_Income_Taxes_Details_S
Note 12 - Income Taxes (Details) - Summary of Net Operating Loss Carryforwards (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Domestic Tax Authority [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Operating Loss Carryforwards | $6,191 | $2,035 |
State and Local Jurisdiction [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Operating Loss Carryforwards | 13,275 | |
Foreign Tax Authority [Member] | ||
Operating Loss Carryforwards [Line Items] | ||
Operating Loss Carryforwards | $88,184 |
Note_12_Income_Taxes_Details_S1
Note 12 - Income Taxes (Details) - Summary of Unrecognized Tax Benefits (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2011 |
Summary of Unrecognized Tax Benefits [Abstract] | |||
Unrecognized tax benefits – beginning balance | $1,700 | $824 | $824 |
Gross increases – tax positions taken in prior period | -219 | 642 | |
Gross increases– tax positions taken in current period | 89 | 234 | |
Unrecognized tax benefits – ending balance | $1,570 | $1,700 | $824 |
Note_13_Retirement_Contributio1
Note 13 - Retirement Contribution Plans (Details) (USD $) | 12 Months Ended | ||
Dec. 30, 2014 | Dec. 30, 2013 | Dec. 30, 2012 | |
Compensation and Retirement Disclosure [Abstract] | |||
Defined Contribution Plan, Employer Discretionary Contribution Amount | $0 | $0 | $0 |
Note_14_Net_Income_Loss_Per_Sh2
Note 14 - Net Income (Loss) Per Share (Details) - Antidilutive Securities Excluded in Earnings Per Share | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Antidilutive Securities | 7,257 | 3,750 | 6,395 |
Deferred Stock Consideration and Unvested Restricted Stock [Member] | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Antidilutive Securities | 768 | 216 | 59 |
Stock Option and Warrant [Member] | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Antidilutive Securities | 6,489 | 3,534 | 6,336 |
Note_14_Net_Income_Loss_Per_Sh3
Note 14 - Net Income (Loss) Per Share (Details) - Earning Per Share (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Numerator: | |||||||||||
Income (loss) from continuing operations (in Dollars) | ($17,737) | ($11,284) | ($10,326) | ($6,313) | $728 | $650 | $1,321 | $352 | ($45,660) | $3,051 | $4,165 |
Denominator: | |||||||||||
Weighted average common shares used in computation of income (loss) from continuing operations per share | 28,461 | 27,764 | 28,348 | ||||||||
Deferred stock consideration and restricted stock | 199 | 58 | |||||||||
Stock options and warrants | 1,088 | 490 | |||||||||
Weighted average common shares used in computation of income (loss) per share from continuing operations, diluted | 28,461 | 29,051 | 28,896 | ||||||||
Income (loss) per share from continuing operations, basic (in Dollars per share) | ($0.62) | ($0.40) | ($0.36) | ($0.22) | $0.03 | $0.02 | $0.05 | $0.01 | ($1.60) | $0.11 | $0.15 |
Income (loss) per share from continuing operations, diluted (in Dollars per share) | ($0.62) | ($0.40) | ($0.36) | ($0.22) | $0.03 | $0.02 | $0.04 | $0.01 | ($1.60) | $0.11 | $0.14 |
Note_15_Segment_Information_De
Note 15 - Segment Information (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Note 15 - Segment Information (Details) [Line Items] | |||||||||||
Revenues | $109,009 | $117,623 | $123,553 | $124,736 | $132,893 | $132,813 | $126,757 | $121,607 | $474,921 | $514,070 | $454,957 |
Long-Lived Assets | 19,542 | 13,064 | 19,542 | 13,064 | |||||||
AUSTRALIA | |||||||||||
Note 15 - Segment Information (Details) [Line Items] | |||||||||||
Revenues | 80,300 | 85,000 | 72,600 | ||||||||
Long-Lived Assets | $1,700 | $2,300 | $1,700 | $2,300 |
Note_15_Segment_Information_De1
Note 15 - Segment Information (Details) - Revenue and Long Lived Assets by Geographic Area (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Revenues from External Customers and Long-Lived Assets [Line Items] | |||||||||||
Revenue | $109,009 | $117,623 | $123,553 | $124,736 | $132,893 | $132,813 | $126,757 | $121,607 | $474,921 | $514,070 | $454,957 |
Long Lived Assets | 19,542 | 13,064 | 19,542 | 13,064 | |||||||
North America [Member] | |||||||||||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||||||||||
Revenue | 293,096 | 341,737 | 327,124 | ||||||||
Long Lived Assets | 12,723 | 5,896 | 12,723 | 5,896 | |||||||
International [Member] | |||||||||||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||||||||||
Revenue | 181,825 | 172,333 | 127,833 | ||||||||
Long Lived Assets | $6,819 | $7,168 | $6,819 | $7,168 |
Note_16_Supplemental_Cash_Flow2
Note 16 - Supplemental Cash Flow Information (Details) - Supplemental Cash Flow Disclosures (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Supplemental Cash Flow Disclosures [Abstract] | |||
Cash paid for interest, net | $30 | ||
Cash paid for income taxes, net | 1,093 | 3,474 | 1,040 |
Non-cash investing and financing activities: | |||
Capitalized software development costs resulting from stock-based compensation and deferred payment obligations | 470 | 443 | 226 |
Deferred payment obligation decrease | -122 | -195 | |
Unpaid purchases of property and equipment | 113 | 83 | 211 |
Assets acquired under capital leases | 1,727 | ||
Investment related to the ClubLocal disposition | $4,500 |
Note_17_Discontinued_Operation1
Note 17 - Discontinued Operations (Details) (USD $) | 12 Months Ended | |||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Mar. 31, 2013 | |
Note 17 - Discontinued Operations (Details) [Line Items] | ||||
Cost Method Investment Ownership Percentage | 4.00% | |||
Cost Method Investments | $9,000,000 | $2,500,000 | $2,500,000 | |
Discontinued Operation, Gain (Loss) on Disposal of Discontinued Operation, Net of Tax | 650,000 | -5,534,000 | -4,397,000 | |
ClubLocal [Member] | ||||
Note 17 - Discontinued Operations (Details) [Line Items] | ||||
Cost Method Investment Ownership Percentage | 14.20% | |||
Cost Method Investments | 4,500,000 | |||
ClubLocal [Member] | ||||
Note 17 - Discontinued Operations (Details) [Line Items] | ||||
Discontinued Operation, Gain (Loss) on Disposal of Discontinued Operation, Net of Tax | 800,000 | |||
Discontinued Operation, Tax (Expense) Benefit from Provision for (Gain) Loss on Disposal | 400,000 | |||
Disposal Group, Including Discontinued Operation, Property, Plant and Equipment | 200,000 | |||
Disposal Group, Including Discontinued Operation, Other Assets | $3,100,000 |
Note_18_Quarterly_Information_2
Note 18 - Quarterly Information (Unaudited) (Details) - Quarterly Financial Data (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Quarterly Financial Data [Abstract] | |||||||||||
Revenue (in Dollars) | $109,009 | $117,623 | $123,553 | $124,736 | $132,893 | $132,813 | $126,757 | $121,607 | $474,921 | $514,070 | $454,957 |
Cost of revenue (in Dollars) | 61,708 | 64,154 | 63,461 | 63,398 | 65,662 | 66,083 | 63,599 | 61,106 | 252,721 | 256,450 | 226,482 |
Income (loss) from continuing operations (in Dollars) | -17,737 | -11,284 | -10,326 | -6,313 | 728 | 650 | 1,321 | 352 | -45,660 | 3,051 | 4,165 |
Income (loss) from discontinued operations, net of income taxes (in Dollars) | -279 | 31 | 371 | -1,313 | -1,772 | -1,462 | -987 | ||||
Net loss (in Dollars) | ($17,458) | ($11,284) | ($10,295) | ($5,973) | ($585) | ($1,122) | ($141) | ($635) | ($45,010) | ($2,483) | ($232) |
Income (loss) from continuing operations | ($0.62) | ($0.40) | ($0.36) | ($0.22) | $0.03 | $0.02 | $0.05 | $0.01 | ($1.60) | $0.11 | $0.15 |
Income (loss) from discontinued operations, net of income taxes | $0.01 | $0.01 | ($0.05) | ($0.06) | ($0.05) | ($0.04) | $0.02 | ($0.20) | ($0.16) | ||
Net loss per share | ($0.61) | ($0.40) | ($0.36) | ($0.21) | ($0.02) | ($0.04) | ($0.01) | ($0.02) | ($1.58) | ($0.09) | ($0.01) |
Income (loss) from continuing operations | ($0.62) | ($0.40) | ($0.36) | ($0.22) | $0.03 | $0.02 | $0.04 | $0.01 | ($1.60) | $0.11 | $0.14 |
Income (loss) from discontinued operations, net of income taxes | $0.01 | $0.01 | ($0.05) | ($0.06) | ($0.05) | ($0.04) | $0.02 | ($0.20) | ($0.15) | ||
Net loss per share | ($0.61) | ($0.40) | ($0.36) | ($0.21) | ($0.02) | ($0.04) | ($0.01) | ($0.02) | ($1.58) | ($0.09) | ($0.01) |