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Note 15 - Stockholders' Equity | 9 Months Ended
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Sep. 30, 2014
Stockholders' Equity Note [Abstract] |
Stockholders' Equity Note Disclosure [Text Block] | 15. Stockholders' Equity A summary of the changes in stockholders’ equity for the nine months ended September 30, 2014 consisted of the following:
|  | Nine Months Ended September 30, |
|  | 2014 |
|  | (in thousands) |
Stockholders’ equity as of December 31, 2013 |  | $ | 251,545 |
Net loss |  |  | (8,178 | )
Accumulated other comprehensive loss |  |  | (1,803 | )
Common stock issued through initial public offering |  |  | 38,018 |
Common stock issued to employees, net of shares withheld |  |  | (485 | )
Cost related to public offering |  |  | (3,358 | )
Exercise of stock options |  |  | 701 |
Nonemployee share-based compensation expense |  |  | 728 |
Employee share-based compensation expense |  |  | 5,952 |
Stockholders’ equity as of September 30, 2014 |  | $ | 283,120 |
Accumulated Other Comprehensive Loss For the Company’s recently acquired subsidiary in France, the Euro, which is the local currency in France, has been determined to be the functional currency. The results of the Company’s French subsidiary’s operations are translated to U.S. dollars at the average exchange rates during the period. Assets and liabilities are translated at the rate of exchange prevailing on the balance sheet date. Equity is translated at the prevailing rate of exchange at the date of the equity transaction. Translation adjustments are reflected in stockholders’ equity and are included as a component of Accumulated other comprehensive loss for the three and nine months ended September 30, 2014. Common Stock In June 2014, the Company completed an Initial Public Offering in which the Company sold 5,840,000 shares of its common stock, which included 1,200,000 shares of the Company’s common stock pursuant to the underwriters’ exercise of their over-allotment option, at a price to the public of $7.00 per share, resulting in gross proceeds of $40.9 million. In connection with the offering, the Company paid $6.2 million in underwriting discounts, commissions, and offering costs, resulting in net proceeds of $34.7 million. Share-Based Award Activity and Balances The Company accounts for share-based compensation payments in accordance with FASB-issued accounting standards, which require measurement and recognition of compensation expense at fair value for all share-based payment awards made to employees, directors, and nonemployees. Under these standards, the fair value of share-based payment awards is estimated at the grant date using an option-pricing model and the portion that is ultimately expected to vest is recognized as compensation cost over the requisite service period. The Company uses the Black-Scholes option-pricing model to estimate the fair value of share-based awards and recognizes share-based compensation cost over the vesting period using the straight-line single option method. Non-vested stock options held by non-employees are revalued using the Company’s estimate of fair value at each balance sheet date. The Company did not grant any stock options during the three months ended September 30, 2014. The weighted-averages for key assumptions used in determining the fair value of options granted during the nine months ended September 30, 2014 and the three and nine months ended September 30, 2013 are as follows:
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
|  | 2014 |  |  | 2013 |  |  | 2014 |  |  | 2013 |
Average volatility |  |  | — |  |  |  | 28.3 | % |  |  | 29.9 | % |  |  | 28.5 | %
Risk-free interest rate |  |  | — |  |  |  | 1.2 | % |  |  | 1.7 | % |  |  | 1.2 | %
Weighted-average expected life in years |  |  | — |  |  |  | 4.4 |  |  |  | 5.0 |  |  |  | 4.4 |
Dividend yield rate |  |  | — |  |  |  | 0.0 | % |  |  | 0.0 | % |  |  | 0.0 | %
Stock Options A summary of option activity under all plans for the nine months ended September 30, 2014 is presented below:
|  | Options |  |  | Weighted- Average Exercise Price |  |  | Weighted- Average Remaining Contractual Term (Years) |  |  | Aggregate Intrinsic Value(1) |
|  |  |  |  |  |  |  |  |  |  | (in thousands) |
Outstanding as of December 31, 2013 |  |  | 10,771,755 |  |  | $ | 15.39 |  |  |  |  |  |  |
Options granted |  |  | 1,661,862 |  |  |  | 15.04 |  |  |  |  |  |  |
Options exercised |  |  | (65,000 | ) |  |  | 10.79 |  |  |  |  |  |  |
Options cancelled |  |  | (60,198 | ) |  |  | 12.11 |  |  |  |  |  |  |
Options expired |  |  | (796,988 | ) |  |  | 18.86 |  |  |  |  |  |  |
Outstanding as of September 30, 2014 |  |  | 11,511,431 |  |  | $ | 15.14 |  |  |  | 4.87 |  |  | $ | 1,975 |
Exercisable as of September 30, 2014 |  |  | 5,732,361 |  |  | $ | 17.27 |  |  |  | 3.60 |  |  | $ | 806 |
| (1) | The aggregate intrinsic value is calculated as the difference between the exercise price of the underlying awards and the estimated fair value of the Company’s common stock for those awards that have an exercise price below the estimated fair value at September 30, 2014.
For the three and nine months ended September 30, 2014, the Company recorded stock option expense related to employees under all plans of $2.0 million and $5.1 million, respectively. For the three and nine months ended September 30, 2013, the Company recorded stock option expense related to employees under all plans of $2.2 million and $4.5 million, respectively. Information relating to option grants and exercises is as follows:
| Three Months Ended September 30, |  | Nine Months Ended September 30, |
| 2014 |  | 2013 |  | 2014 |  | 2013 |
| (in thousands, except per share data) |
Weighted-average grant date fair value |  | $ | — |  |  | $ | 2.50 |  |  | $ | 4.02 |  |  | $ | 2.54 |
Intrinsic value of options exercised |  |  | 283 |  |  |  | 4 |  |  |  | 144 |  |  |  | (1 | )
Cash received |  |  | 130 |  |  |  | 38 |  |  |  | 701 |  |  |  | 51 |
Total fair value of the options vested during the year |  |  | 3,510 |  |  |  | 3,203 |  |  |  | 4,324 |  |  |  | 4,056 |
A summary of the status of the Company’s nonvested options as of September 30, 2014, and changes during the nine months ended September 30, 2014, are presented below:
|  | Options |  |  | Weighted-Average Grant Date Fair Value |
Nonvested as of December 31, 2013 |  |  | 5,617,554 |  |  | $ | 3.12 |
Options granted |  |  | 1,661,862 |  |  |  | 4.02 |
Options vested |  |  | (1,440,148 | ) |  |  | 3.00 |
Options forfeited |  |  | (60,198 | ) |  |  | 4.35 |
Nonvested as of September 30, 2014 |  |  | 5,779,070 |  |  |  | 3.39 |
As of September 30, 2014, there was $13.8 million of total unrecognized compensation cost, net of forfeitures, related to nonvested stock option based compensation arrangements granted under the Company’s 2005 Equity Incentive Award Plan, or the 2005 Plan. The cost is expected to be recognized over a weighted-average period of 2.5 years and will be adjusted for future changes in estimated forfeitures. Deferred Stock Units From 2007 through 2014, the Company granted restricted stock awards in the form of deferred stock units, or DSUs, to certain officers, consultants, and employees, either as compensation or in exchange for expiring stock options. The grantee receives one share of common stock at a specified future date for each DSU awarded. The DSUs may not be sold or otherwise transferred until certificates of common stock have been issued, recorded, and delivered to the participant. The DSUs do not have any voting or dividend rights prior to the issuance of certificates of the underlying common stock. The Company issued DSUs that were treated as an accounting exchange for expiring stock options, whereby the fair value of the expiring stock options equaled the fair value of the DSUs at the date of the exchange. As such, the Company did not record any expense related to these award modifications. Additionally, the Company issued DSUs to its Board of Directors and employees as compensation with a vesting period of up to five years. The share-based expense associated with these grants was based on the Company’s common stock fair value at the time of grant and is amortized over the requisite service period, which generally is the vesting period. The Company recorded a total expense of $0.5 million and $1.2 million for the three and nine months ended September 30, 2014, respectively, for these DSU awards, compared to the prior year expense for the three and nine months ended September 30, 2013 of $0.2 million and $0.4 million, respectively. As of September 30, 2014, there was $5.8 million of total unrecognized compensation cost, net of forfeitures, related to nonvested DSU-based compensation arrangements granted under the 2005 Plan. The cost is expected to be recognized over a weighted-average period of 3.4 years and will be adjusted for future changes in estimated forfeitures. Information relating to DSU grants and deliveries is as follows:
|  | Total DSUs Issued |  |  | Total Fair Market Value of DSUs Issued as Compensation (1) |
|  |  |  |  | (in thousands) |
DSUs outstanding at December 31, 2013 |  |  | 98,495 |  |  |  |
DSUs granted |  |  | 449,544 |  |  | $ | 6,389 |
DSUs forfeited |  |  | (994 | ) |  |  |  |
Common stock delivered |  |  | (9,497 | ) |  |  |  |
DSUs surrendered for taxes |  |  | (7,774 | ) |  |  |  |
DSUs outstanding at September 30, 2014 |  |  | 529,774 |  |  |  |  |
(1) | The total FMV is derived from the number of DSUs granted times the current stock price on the date of grant.

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- Definition The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(d),(e)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 4 -Subparagraph (SAB TOPIC 4.C) -URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187143-122770 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.29-31) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB TOPIC 4.E) -URI http://asc.fasb.org/extlink&oid=27010918&loc=d3e74512-122707 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 4 -Section C Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 4 -Section E Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 08 -Article 4 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21506-112644 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Preferred Stock -URI http://asc.fasb.org/extlink&oid=6521494 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 29, 30, 31 -Article 5 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Article 3 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21463-112644 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187085-122770 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644 Reference 15: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21564-112644 Reference 16: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21488-112644 Reference 17: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21484-112644 Reference 18: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 08 -Paragraph d -Article 4 Reference 19: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 30 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6405834&loc=d3e23285-112656 + Details
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