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Stockholders' Equity (Tables)
9 Months Ended
Jun. 30, 2014
Equity [Abstract]  
Stock-Based Compensation Expense Related to Stock Options and RSUs

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

 

     Three Months Ended
June 30,
     Nine Months Ended
June 30,
 
     2014      2013      2014      2013  

Sales and marketing

   $ 221,323       $ 102,672       $ 657,014       $ 277,976   

Research and development

     201,690         161,431         579,517         447,491   

General and administrative

     499,835         421,530         1,431,438         1,320,300   
  

 

 

    

 

 

    

 

 

    

 

 

 

Stock-based compensation expense included in operating expenses

   $ 922,848       $ 685,633       $ 2,667,969       $ 2,045,767   
  

 

 

    

 

 

    

 

 

    

 

 

 
Fair Value Calculations for Stock-Based Compensation Awards

The fair value calculations for stock-based compensation awards to employees for the nine months ended June 30, 2013 were based on the following assumptions:

 

     Nine Months Ended
June 30, 2013

Risk-free interest rate

   0.18 – 0.84%

Expected life (years)

   5.05

Expected volatility

   169%

Expected dividends

   None
Stock Option Activity

The following table summarizes stock option activity under the Company’s equity plans during the nine months ended June 30, 2014:

 

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

Outstanding, September 30, 2013

     2,824,964      $ 4.09         7.29   

Granted

     —          —        

Exercised

     (103,223   $ 1.22      

Cancelled

     (105,620   $ 4.33      
  

 

 

      

Outstanding, June 30, 2014

     2,616,121      $ 4.19         6.34   
  

 

 

      
Significant Ranges of Outstanding and Exercisable Options

The following table summarizes significant ranges of outstanding and exercisable options as of June 30, 2014:

 

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
 

$0.09 to $0.79

     336,762         5.50       $ 0.73         336,762       $ 0.73         —     

$0.80 to $1.10

     350,000         1.64       $ 0.93         350,000       $ 0.93         —     

$2.34 to $2.60

     757,057         6.95       $ 2.51         455,700       $ 2.54         301,357   

$3.33 to $9.97

     873,178         7.63       $ 5.93         447,973       $ 6.64         425,205   

$11.05 to $11.68

     299,124         7.50       $ 11.08         185,682       $ 11.08         113,442   
  

 

 

          

 

 

       

 

 

 
     2,616,121         6.34       $ 4.19         1,776,117       $ 3.81         840,004   
  

 

 

          

 

 

       

 

 

 
RSU Activity

The following table summarizes RSU activity under the Company’s equity plans during the nine months ended June 30, 2014:

 

     Number of
Shares
    Weighted-
Average
Fair Market Value
Per Share
 

Outstanding, September 30, 2013

     692,504      $ 4.85   

Granted

     612,639      $ 4.86   

Settled

     (28,334   $ 8.96   

Cancelled

     (64,517   $ 4.66   
  

 

 

   

Outstanding, June 30, 2014

     1,212,292      $ 4.77