| Equity
|
|
|
|
|
|
|
Accounts Receivable | |||||
December 31, 2012 | March 31, 2013 | ||||
Google | 40 | % | 37 | % |
Revenue | |||||
Three months ended March 31, | |||||
2012 | 2013 | ||||
Google | 61 | % | 54 | % |
Cost of Revenue | |||||
Three months ended March 31, | |||||
2012 | 2013 | ||||
Customer A | 20 | % | 20 | % | |
Customer B | 18 | 14 | |||
Customer C | 13 | 14 | |||
Customer D | 11 | 11 |
|
December 31, 2012 | March 31, 2013 | ||||||
Computer equipment (1) | $ | 17,630 | $ | 17,869 | |||
Computer software | 3,715 | 3,888 | |||||
Furniture and fixtures | 1,050 | 1,063 | |||||
Leasehold improvements | 732 | 737 | |||||
Work in process (2) | 226 | 953 | |||||
Other | 173 | 173 | |||||
23,526 | 24,683 | ||||||
Less accumulated depreciation (3) | (12,483 | ) | (13,600 | ) | |||
Total property and equipment—net | $ | 11,043 | $ | 11,083 |
(1) | Includes equipment under capital lease obligations of approximately $5,882 and $5,488 as of December 31, 2012 and March 31, 2013, respectively. |
(2) | Includes internal-use software development costs of $40 and $943 as of December 31, 2012 and March 31, 2013, respectively. |
(3) | Includes $1,834 and $1,879 of accumulated depreciation of equipment under capital leases as of December 31, 2012 and March 31, 2013, respectively. |
|
December 31, 2012 | March 31, 2013 | ||||||
Accrued compensation | $ | 4,265 | $ | 2,057 | |||
Accrued content fees | 555 | 1,009 | |||||
Accrued property and equipment expenditures | 132 | 857 | |||||
Accrued business acquisition consideration | 500 | 500 | |||||
Unearned revenue on contracts | 297 | 310 | |||||
Other | 1,579 | 1,447 | |||||
Total | $ | 7,328 | $ | 6,180 |
|
Three Months Ended March 31, | |||||||
2012 | 2013 | ||||||
Revenue | |||||||
United States | $ | 30,515 | $ | 28,966 | |||
United Kingdom | 155 | 177 | |||||
Total revenue | $ | 30,670 | $ | 29,143 |
December 31, 2012 | March 31, 2013 | ||||||
Long-lived tangible assets | |||||||
United States | $ | 10,638 | $ | 10,730 | |||
Netherlands | 405 | 353 | |||||
Total long-lived tangible assets | $ | 11,043 | $ | 11,083 |
|
Year ending December 31: | |||
2013 (remaining nine months) | $ | 3,380 | |
2014 | 1,419 | ||
2015 | 1,080 | ||
2016 | 1,080 | ||
2017 | 360 | ||
Due after 5 years | — | ||
Total contract commitments | $ | 7,319 |
|
|
Three Months Ended March 31, | |||||||
2012 | 2013 | ||||||
Research and development | $ | 107 | $ | 261 | |||
Sales and marketing | 74 | 76 | |||||
General and administrative | 377 | 225 | |||||
Total stock-based compensation expense | $ | 558 | $ | 562 |
Number of Stock Options | Weighted Average Exercise Price | Aggregate Intrinsic Value (in thousands) | Weighted Average Remaining contractual Term (in years) | |||||||||
Outstanding—January 1, 2013 | 4,510,807 | $ | 4.06 | |||||||||
Granted | 95,000 | 4.26 | ||||||||||
Exercised | (104,397 | ) | 0.97 | |||||||||
Forfeited | (23,819 | ) | 9.26 | |||||||||
Outstanding—March 31, 2013 | 4,477,591 | 4.11 | $ | 1,732 | 7.35 | |||||||
Vested and expected to vest—March 31, 2013 | 4,119,041 | 3.99 | $ | 1,857 | 7.23 | |||||||
Vested and exercisable—March 31, 2013 | 2,087,014 | 2.48 | $ | 2,567 | 5.73 |
Grant Date | Options Granted | Weighted- Average Exercise Price | Expected Life of Options (In years) | Risk-Free Interest Rate | Expected Volatility | Expected Dividend Yield | |||||||||||
February 3, 2013 | 44,500 | $ | 5.55 | 6.25 | 1.43 | % | 61 | % | — | % | |||||||
March 11, 2013 | 50,500 | $ | 3.12 | 6.25 | 1.43 | % | 60 | % | — | % |
Number of Shares | Weighted-Average Grant Date Fair Value | |||||
Unvested - January 1, 2013 | 50,000 | $ | 5.82 | |||
Granted | — | — | ||||
Released | — | — | ||||
Forfeited | — | — | ||||
Unvested - March 31, 2013 | 50,000 | $ | 5.82 | |||
Expected to vest—March 31, 2013 | 42,500 | $ | 5.82 |
|
Accounts Receivable | |||||
December 31, 2012 | March 31, 2013 | ||||
Google | 40 | % | 37 | % |
Revenue | |||||
Three months ended March 31, | |||||
2012 | 2013 | ||||
Google | 61 | % | 54 | % |
Cost of Revenue | |||||
Three months ended March 31, | |||||
2012 | 2013 | ||||
Customer A | 20 | % | 20 | % | |
Customer B | 18 | 14 | |||
Customer C | 13 | 14 | |||
Customer D | 11 | 11 |
|
Accounts Receivable | |||||
December 31, 2012 | March 31, 2013 | ||||
Google | 40 | % | 37 | % |
Revenue | |||||
Three months ended March 31, | |||||
2012 | 2013 | ||||
Google | 61 | % | 54 | % |
Cost of Revenue | |||||
Three months ended March 31, | |||||
2012 | 2013 | ||||
Customer A | 20 | % | 20 | % | |
Customer B | 18 | 14 | |||
Customer C | 13 | 14 | |||
Customer D | 11 | 11 |
|
December 31, 2012 | March 31, 2013 | ||||||
Computer equipment (1) | $ | 17,630 | $ | 17,869 | |||
Computer software | 3,715 | 3,888 | |||||
Furniture and fixtures | 1,050 | 1,063 | |||||
Leasehold improvements | 732 | 737 | |||||
Work in process (2) | 226 | 953 | |||||
Other | 173 | 173 | |||||
23,526 | 24,683 | ||||||
Less accumulated depreciation (3) | (12,483 | ) | (13,600 | ) | |||
Total property and equipment—net | $ | 11,043 | $ | 11,083 |
(1) | Includes equipment under capital lease obligations of approximately $5,882 and $5,488 as of December 31, 2012 and March 31, 2013, respectively. |
(2) | Includes internal-use software development costs of $40 and $943 as of December 31, 2012 and March 31, 2013, respectively. |
(3) | Includes $1,834 and $1,879 of accumulated depreciation of equipment under capital leases as of December 31, 2012 and March 31, 2013, respectively. |
|
December 31, 2012 | March 31, 2013 | ||||||
Accrued compensation | $ | 4,265 | $ | 2,057 | |||
Accrued content fees | 555 | 1,009 | |||||
Accrued property and equipment expenditures | 132 | 857 | |||||
Accrued business acquisition consideration | 500 | 500 | |||||
Unearned revenue on contracts | 297 | 310 | |||||
Other | 1,579 | 1,447 | |||||
Total | $ | 7,328 | $ | 6,180 |
|
Three Months Ended March 31, | |||||||
2012 | 2013 | ||||||
Revenue | |||||||
United States | $ | 30,515 | $ | 28,966 | |||
United Kingdom | 155 | 177 | |||||
Total revenue | $ | 30,670 | $ | 29,143 |
December 31, 2012 | March 31, 2013 | ||||||
Long-lived tangible assets | |||||||
United States | $ | 10,638 | $ | 10,730 | |||
Netherlands | 405 | 353 | |||||
Total long-lived tangible assets | $ | 11,043 | $ | 11,083 |
|
Year ending December 31: | |||
2013 (remaining nine months) | $ | 3,380 | |
2014 | 1,419 | ||
2015 | 1,080 | ||
2016 | 1,080 | ||
2017 | 360 | ||
Due after 5 years | — | ||
Total contract commitments | $ | 7,319 |
|
Three Months Ended March 31, | |||||||
2012 | 2013 | ||||||
Research and development | $ | 107 | $ | 261 | |||
Sales and marketing | 74 | 76 | |||||
General and administrative | 377 | 225 | |||||
Total stock-based compensation expense | $ | 558 | $ | 562 |
Number of Stock Options | Weighted Average Exercise Price | Aggregate Intrinsic Value (in thousands) | Weighted Average Remaining contractual Term (in years) | |||||||||
Outstanding—January 1, 2013 | 4,510,807 | $ | 4.06 | |||||||||
Granted | 95,000 | 4.26 | ||||||||||
Exercised | (104,397 | ) | 0.97 | |||||||||
Forfeited | (23,819 | ) | 9.26 | |||||||||
Outstanding—March 31, 2013 | 4,477,591 | 4.11 | $ | 1,732 | 7.35 | |||||||
Vested and expected to vest—March 31, 2013 | 4,119,041 | 3.99 | $ | 1,857 | 7.23 | |||||||
Vested and exercisable—March 31, 2013 | 2,087,014 | 2.48 | $ | 2,567 | 5.73 |
Grant Date | Options Granted | Weighted- Average Exercise Price | Expected Life of Options (In years) | Risk-Free Interest Rate | Expected Volatility | Expected Dividend Yield | |||||||||||
February 3, 2013 | 44,500 | $ | 5.55 | 6.25 | 1.43 | % | 61 | % | — | % | |||||||
March 11, 2013 | 50,500 | $ | 3.12 | 6.25 | 1.43 | % | 60 | % | — | % |
Number of Shares | Weighted-Average Grant Date Fair Value | |||||
Unvested - January 1, 2013 | 50,000 | $ | 5.82 | |||
Granted | — | — | ||||
Released | — | — | ||||
Forfeited | — | — | ||||
Unvested - March 31, 2013 | 50,000 | $ | 5.82 | |||
Expected to vest—March 31, 2013 | 42,500 | $ | 5.82 |
|
|
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|