v2.4.1.9

Net Income (Loss) Per Share | 12 Months Ended
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Dec. 31, 2014
Earnings Per Share [Abstract] |
Net Income (Loss) Per Share | 3. NET INCOME (LOSS) PER SHARE Basic net income (loss) per share has been computed by dividing the net income (loss) by the weighted-average number of common shares outstanding during the period, without consideration for common share equivalents. Diluted net income (loss) per share has been computed by dividing the net income (loss) by the sum of the weighted-average number of common shares and common share equivalents outstanding during the period, to the extent that such common share equivalents are dilutive. For the year ended December 31, 2014, certain common share equivalents have been included in diluted net income per share, as their effect is dilutive. For the year ended December 31, 2014, common share equivalents include: (i) options and warrants to purchase common stock; (ii) options and warrants to purchase convertible preferred stock prior to their conversion into options and warrants to purchase common stock upon the IPO on July 22, 2014; and (iii) convertible preferred stock and the subordinated convertible note prior to their conversion into common stock upon the IPO. Common share equivalents for convertible preferred stock and the subordinated convertible note are determined using the if-converted method. Common share equivalents for options and warrants are determined using the treasury-stock method. For the years ended December 31, 2013 and 2012, all common share equivalents have been excluded from the calculation of diluted net loss per share, as the effect would be antidilutive. The following tables set forth the computation of the Company’s basic and diluted net income (loss) per share (in thousands, except shares and per share data):
|  | Year Ended December 31, |
|  | 2014 |  |  | 2013 |  |  | 2012 |
Numerator: |  |  |  |  |  |  |  |  |  |  |  |
Net income (loss) |  | $ | 781 |  |  | $ | (3,542 | ) |  | $ | (5,059 | )
Add: interest expense related to subordinated convertible note |  |  | 364 |  |  |  | — |  |  |  | — |
Less: gain on change in fair value of derivative related to subordinated convertible note |  |  | (118 | ) |  |  | — |  |  |  | — |
Less: gain on extinguishment of derivative related to subordinated convertible note |  |  | (120 | ) |  |  | — |  |  |  | — |
Net income (loss) attributable to common stockholders |  | $ | 907 |  |  | $ | (3,542 | ) |  | $ | (5,059 | )
Denominator: |  |  |  |  |  |  |  |  |  |  |  |
Weighted-average shares used to compute basic net income (loss) per share attributable to common stockholders |  |  | 5,815,928 |  |  |  | 1,010,795 |  |  |  | 1,009,236 |
Effect of potentially dilutive securities: |  |  |  |  |  |  |  |  |  |  |  |
Shares of common stock subject to conversion from preferred stock |  |  | 2,972,051 |  |  |  | — |  |  |  | — |
Shares of common stock subject to conversion from subordinated convertible note |  |  | 134,341 |  |  |  | — |  |  |  | — |
Shares of common stock subject to outstanding options |  |  | 360,681 |  |  |  | — |  |  |  | — |
Weighted-average shares used to compute diluted net income (loss) per share attributable to common stockholders |  |  | 9,283,001 |  |  |  | 1,010,795 |  |  |  | 1,009,236 |
Net income (loss) per share attributable to common stockholders: |  |  |  |  |  |  |  |  |  |  |  |
Basic |  | $ | 0.13 |  |  | $ | (3.50 | ) |  | $ | (5.01 | )
Diluted |  | $ | 0.10 |  |  | $ | (3.50 | ) |  | $ | (5.01 | )
The following potentially dilutive securities have been excluded from diluted net income (loss) per share, because their effect would be antidilutive:
|  | Year Ended December 31, |
|  | 2014 |  |  | 2013 |  |  | 2012 |
Shares of common stock subject to outstanding options |  |  | 539,645 |  |  |  | 466,965 |  |  |  | 619,906 |
Shares of common stock subject to outstanding warrants |  |  | 213,677 |  |  |  | 82,190 |  |  |  | 82,190 |
Shares of common stock subject to conversion from preferred stock |  |  | — |  |  |  | 5,160,085 |  |  |  | 5,160,085 |
Shares of common stock subject to conversion from preferred stock warrants |  |  | — |  |  |  | 541,613 |  |  |  | 541,613 |
Total common stock equivalents |  |  | 753,322 |  |  |  | 6,250,853 |  |  |  | 6,403,794 |

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