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Stockholders' Equity (Tables)
 6 Months Ended
Jun. 30, 2012
Stockholders' Equity [Abstract]  
Stock-based compensation expense related to stock options and restricted stock unit awards

The following table summarizes stock-based compensation expense related to stock options and restricted stock unit awards, which was allocated as follows:

 

                                 
    Three Months Ended
June 30,		     Nine Months Ended
June 30,		  
    2012     2011     2012     2011  

Sales and marketing

   $ 214,140     $ 65,324     $ 394,881     $ 168,471  

Research and development

     187,132       76,892       470,958       196,666  

General and administrative

     429,714       219,547       1,118,031       526,210  
   

 

 

    

 

 

    

 

 

    

 

 

  

Stock-based compensation expense included in operating expenses

   $ 830,986     $ 361,763     $ 1,983,870     $ 891,347  
   

 

 

    

 

 

    

 

 

    

 

 

  
The fair value calculations for stock-based compensation awards to employees

The fair value calculations for stock-based compensation awards to employees for the nine month periods ended June 30, 2012 and 2011 were based on the following assumptions:

 

         
    2012   2011

Risk-free interest rate

   0.35 - 1.06%   0.26% - 2.26%

Expected life (years)

   4.79   5.51

Expected volatility

   90%   193%

Expected dividends

   None   None
Stock option activity under the Company's equity plans

The following table summarizes stock option activity under the Company’s equity plans for the nine months ended June 30, 2012:

 

                         
    Number of
Shares		     Weighted Average
Exercise Price Per
Share		     Weighted Average
Remaining
Contractual Term
(in Years)		  

Outstanding, September 30, 2011

     4,553,904     $ 1.34       6.15  
       

Granted

     913,250     $ 9.40          

Exercised

     (1,734,333 )    $ 0.77          

Cancelled

     (131,956 )    $ 7.67          
   

 

 

                  

Oustanding, June 30, 2012

     3,600,865     $ 3.42       6.68  
   

 

 

                  
Significant ranges of outstanding and exercisable options

The following table summarizes significant ranges of outstanding and exercisable options as of June 30, 2012:

 

                                                 

      Range of

  Exercise Prices

   Number of
Options
Outstanding		     Weighted
Average
Remaining
Contractual Life
(in Years)		     Weighted
Average
Exercise Price		     Number of
Exercisable
Options		     Weighted
Average
Exercise Price of
Exercisable
Options		     Number of
Unvested
Options		  

 $0.00 to $0.70

     366,162       5.55     $ 0.34       363,238     $ 0.34       2,924  

 $0.79 to $0.82

     851,772       5.84     $ 0.80       663,991     $ 0.80       187,781  

 $1.06 to $2.32

     729,302       2.82     $ 1.21       729,302     $ 1.21       —    

 $2.60 to $5.90

     891,215       8.72     $ 3.07       210,955     $ 2.71       680,260  

$6.39 to $12.37

     762,414       9.49     $ 10.38       68,941     $ 9.54       693,473  
   

 

 

                    

 

 

            

 

 

  
      3,600,865       6.68     $ 3.42       2,036,427     $ 1.36       1,564,438  
   

 

 

                    

 

 

            

 

 

  
Summary of warrant activity

The following table summarizes warrant activity in the nine months ended June 30, 2012:

 

                 
    Number
of warrants		     Weighted-average
exercise price		  

Outstanding and exercisable at September 30, 2011

     132,189     $ 0.91  

Issued

     —            

Exercised

     (125,522 )    $ 0.91  

Expired

     —            
   

 

 

          

Outstanding and exercisable at June 30, 2012

     6,667     $ 0.91