x
|
QUARTERLY REPORT PURSUANT TO
SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF
1934
|
¨
|
TRANSITION REPORT PURSUANT TO
SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF
1934
|
Delaware
|
93-1051328
|
(State
or other jurisdiction of
incorporation
or organization)
|
(I.R.S.
Employer
Identification
No.)
|
Large
accelerated filer
|
Accelerated
filer x
|
|
Non-accelerated
filer (Do not check if a smaller reporting
company)
|
Smaller
reporting company
|
PART I.
FINANCIAL INFORMATION
|
Page
No.
|
|
Item 1.
|
3
|
|
3
|
||
4
|
||
5
|
||
6
|
||
Item 2.
|
28
|
|
Item 3.
|
43
|
|
Item 4.
|
44
|
|
PART II.
OTHER INFORMATION
|
||
Item 1.
|
45
|
|
Item 1A.
|
45
|
|
Item 2.
|
55
|
|
Item 6.
|
56
|
|
56
|
||
June
30,
2008
|
September
30,
2007
|
|||||||
ASSETS
|
||||||||
Current
assets:
|
||||||||
Cash
and cash equivalents
|
$
|
64,332
|
$
|
77,987
|
||||
Marketable
securities
|
—
|
12,159
|
||||||
Accounts
receivable, net
|
21,346
|
27,381
|
||||||
Prepaid
expenses and other current assets
|
6,787
|
5,352
|
||||||
Total
current assets
|
92,465
|
122,879
|
||||||
Property
and equipment, net
|
3,341
|
3,638
|
||||||
Goodwill
|
32,044
|
32,044
|
||||||
Intangible
assets, net
|
1,817
|
2,725
|
||||||
Other
assets
|
2,304
|
3,529
|
||||||
Total
assets
|
$
|
131,971
|
$
|
164,815
|
||||
LIABILITIES
AND STOCKHOLDERS’ EQUITY
|
||||||||
Current
liabilities:
|
||||||||
Accounts
payable
|
$
|
7,848
|
$
|
8,080
|
||||
Accrued
expenses
|
11,383
|
13,804
|
||||||
Deferred
revenue, including related party balance of nil and $116 at June 30, 2008
and September 30, 2007, respectively
|
36,850
|
44,548
|
||||||
Total
current liabilities
|
56,081
|
66,432
|
||||||
Deferred
revenue—long-term
|
14,998
|
23,434
|
||||||
Restructuring
costs, net of current portion
|
630
|
942
|
||||||
Other
long-term liabilities
|
862
|
646
|
||||||
Total
liabilities
|
72,571
|
91,454
|
||||||
Commitments
and contingencies (Notes 8, 9 and 10)
|
||||||||
Stockholders’
equity:
|
||||||||
Preferred
stock, $0.001 par value; 51,000 shares authorized; none issued and
outstanding at June 30, 2008 and September 30, 2007
|
—
|
—
|
||||||
Common
stock, $0.001 par value; 300,000 shares authorized; 30,046 and 33,221
shares issued and outstanding at June 30, 2008 and September 30,
2007, respectively
|
30
|
33
|
||||||
Additional
paid-in capital
|
281,217
|
295,650
|
||||||
Accumulated
deficit
|
(227,110
|
)
|
(226,915
|
)
|
||||
Accumulated
other comprehensive income
|
5,263
|
4,593
|
||||||
Total
stockholders’ equity
|
59,400
|
73,361
|
||||||
Total
liabilities and stockholders’ equity
|
$
|
131,971
|
$
|
164,815
|
Three
Months Ended June 30,
|
Nine
Months Ended June 30,
|
|||||||||||||||
2008
|
2007
|
2008
|
2007
|
|||||||||||||
Revenues:
|
||||||||||||||||
License
|
$
|
10,960
|
$
|
14,094
|
$
|
24,574
|
$
|
40,137
|
||||||||
Service,
including related party items aggregating nil and $64 for the
three months ended June 30, 2008 and 2007, respectively and $116 and $268
for the nine months ended June 30, 2008 and 2007,
respectively
|
19,756
|
22,667
|
59,992
|
52,328
|
||||||||||||
Total
revenues
|
30,716
|
36,761
|
84,566
|
92,465
|
||||||||||||
Cost
of revenues:
|
||||||||||||||||
License
|
304
|
419
|
920
|
1,456
|
||||||||||||
Service, including
related party items aggregating nil and $177 for the nine months
ended June 30, 2008 and 2007, respectively
|
8,711
|
9,264
|
25,722
|
22,353
|
||||||||||||
Amortization
of intangible assets
|
303
|
303
|
908
|
908
|
||||||||||||
Total
cost of revenues
|
9,318
|
9,986
|
27,550
|
24,717
|
||||||||||||
Gross
profit
|
21,398
|
26,775
|
57,016
|
67,748
|
||||||||||||
Operating
expenses:
|
||||||||||||||||
Sales
and marketing
|
9,595
|
9,065
|
25,898
|
24,643
|
||||||||||||
Research
and development
|
6,704
|
7,328
|
19,811
|
20,919
|
||||||||||||
General
and administrative
|
4,665
|
4,584
|
13,687
|
15,490
|
||||||||||||
Restructuring
expense
|
—
|
—
|
—
|
6,727
|
||||||||||||
Total
operating expenses
|
20,964
|
20,977
|
59,396
|
67,779
|
||||||||||||
Income
(loss) from operations
|
434
|
5,798
|
(2,380
|
)
|
(31
|
)
|
||||||||||
Interest
income, net
|
385
|
682
|
1,833
|
1,478
|
||||||||||||
Other
income, net
|
86
|
213
|
571
|
377
|
||||||||||||
Income
before income taxes
|
905
|
6,693
|
24
|
1,824
|
||||||||||||
Provision
for income taxes
|
146
|
240
|
219
|
1,146
|
||||||||||||
Net
income (loss)
|
$
|
759
|
$
|
6,453
|
$
|
(195
|
)
|
$
|
678
|
|||||||
Net
income (loss) per share:
|
||||||||||||||||
Basic
|
$
|
0.03
|
$
|
0.20
|
$
|
(0.01
|
)
|
$
|
0.02
|
|||||||
Diluted
|
$
|
0.02
|
$
|
0.19
|
$
|
(0.01
|
)
|
$
|
0.02
|
|||||||
Weighted
average shares used in computing net income (loss) per
share:
|
||||||||||||||||
Basic
|
30,262
|
32,743
|
32,217
|
32,208
|
||||||||||||
Diluted
|
30,474
|
34,384
|
32,217
|
33,431
|
Nine
Months Ended June 30,
|
||||||||
2008
|
2007
|
|||||||
Cash
flows from operating activities:
|
||||||||
Net
income (loss)
|
$
|
(195
|
)
|
$
|
678
|
|||
Adjustments
to reconcile net income (loss) to net cash provided by (used for)
operating activities:
|
||||||||
Depreciation
and amortization
|
1,329
|
1,065
|
||||||
Amortization
of intangibles and capitalized software
|
1,726
|
1,584
|
||||||
Non-cash
stock-based compensation expense
|
3,516
|
2,234
|
||||||
Provision
for doubtful accounts and sales returns
|
210
|
234
|
||||||
Loss
on disposal of assets
|
—
|
666
|
||||||
Realized
gain on sale of marketable securities
|
(8
|
)
|
—
|
|||||
Accretion
of discounts on marketable securities
|
(56
|
)
|
(51
|
)
|
||||
Other
non-cash charges
|
—
|
445
|
||||||
Changes
in assets and liabilities:
|
||||||||
Accounts
receivable
|
6,076
|
(13,960
|
)
|
|||||
Prepaid
expenses and other current assets
|
(1,287
|
)
|
(930
|
)
|
||||
Other
assets
|
265
|
1,771
|
||||||
Accounts
payable
|
(290
|
)
|
(3,625
|
)
|
||||
Accrued
expenses, other long-term liabilities and restructuring
|
(2,614
|
)
|
246
|
|||||
Deferred
revenue
|
(16,634
|
)
|
45,999
|
|||||
Net
cash provided by (used for) operating activities
|
(7,962
|
)
|
36,356
|
|||||
Cash
flows from investing activities:
|
||||||||
Purchases
of property, equipment, and leasehold improvements
|
(1,004
|
)
|
(1,751
|
)
|
||||
Capitalized
product development costs
|
(392
|
)
|
(202
|
)
|
||||
Proceeds
from release of restricted cash
|
46
|
—
|
||||||
Purchases
of marketable securities and short-term investments
|
(5,099
|
)
|
(11,536
|
)
|
||||
Proceeds
from maturities of marketable securities and short-term
investments
|
17,322
|
217
|
||||||
Net
cash provided by (used for) investing activities
|
10,873
|
(13,272
|
)
|
|||||
Cash
flows from financing activities:
|
||||||||
Proceeds
from exercise of stock options
|
630
|
3,798
|
||||||
Payment
on capital leases
|
—
|
(96
|
)
|
|||||
Excess
tax benefits from stock-based compensation
|
17
|
—
|
||||||
Repurchase
of common stock
|
(18,599
|
)
|
—
|
|||||
Net
cash provided by (used for) financing activities
|
(17,952
|
)
|
3,702
|
|||||
Effect
of exchange rate changes
|
1,386
|
1,395
|
||||||
Net
increase (decrease) in cash and cash equivalents
|
(13,655
|
)
|
28,181
|
|||||
Cash
and cash equivalents at beginning of period
|
77,987
|
45,278
|
||||||
Cash
and cash equivalents at end of period
|
$
|
64,332
|
$
|
73,459
|
Three
Months Ended June 30,
|
Nine
Months Ended June 30,
|
|||||||||||||||||
2008
|
2007
|
2008
|
2007
|
|||||||||||||||
Citicorp
Credit Services, Inc.
|
20
|
%
|
44
|
%
|
22
|
%
|
21
|
%
|
||||||||||
Wellpoint,
Inc.
|
*
|
*
|
10
|
%
|
*
|
|||||||||||||
International
Business Machines (“IBM”)
|
*
|
*
|
*
|
20
|
%
|
|||||||||||||
Turkiye
Is Bankasi, A.S.
|
*
|
10
|
%
|
*
|
*
|
|||||||||||||
Vodafone
Group Services Limited
|
18
|
%
|
*
|
10
|
%
|
*
|
||||||||||||
Three
Months Ended June 30,
|
Nine
Months Ended June 30,
|
||||||||||||||||
2008
|
2007
|
2008
|
2007
|
||||||||||||||
Net
income (loss) available to common stockholders
|
$
|
759
|
$
|
6,453
|
$
|
(195
|
)
|
$
|
678
|
||||||||
Denominator:
|
|||||||||||||||||
Weighted
average common stock outstanding
|
30,333
|
32,787
|
32,288
|
32,464
|
|||||||||||||
Common
stock subject to repurchase
|
(71
|
)
|
(44
|
)
|
(71
|
)
|
(256
|
)
|
|||||||||
Denominator
for basic calculation
|
30,262
|
32,743
|
32,217
|
32,208
|
|||||||||||||
Effect
of dilutive potential common shares
|
141
|
1,641
|
—
|
*
|
1,223
|
||||||||||||
Effect
of dilutive common stock subject
to repurchase
|
71
|
—
|
—
|
*
|
—
|
||||||||||||
Denominator
for diluted calculation
|
30,474
|
34,384
|
32,217
|
33,431
|
|||||||||||||
Net
income (loss) per share – basic
|
$
|
0.03
|
$
|
0.20
|
$
|
(0.01
|
)
|
$
|
0.02
|
||||||||
Net
income (loss) per share – diluted
|
$
|
0.02
|
$
|
0.19
|
$
|
(0.01
|
)
|
$
|
0.02
|
June
30,
2008
|
|||||||||
Employee
stock options
|
3,943
|
||||||||
Restricted
stock awards (or RSAs)
|
71
|
||||||||
4,014
|
June
30,
2008
|
September
30,
2007
|
||||||||
Accounts
receivable, net:
|
|||||||||
Accounts
receivable
|
$
|
21,592
|
$
|
27,546
|
|||||
Less:
allowance for doubtful accounts
|
(246
|
)
|
(165
|
)
|
|||||
$
|
21,346
|
$
|
27,381
|
June
30,
2008
|
September
30,
2007
|
||||||||
Prepaid
expense and other current assets:
|
|||||||||
Prepaid
commissions and royalties
|
$
|
3,191
|
$
|
3,104
|
|||||
Restricted
cash
|
44
|
46
|
|||||||
Other
prepaid expenses and current assets
|
3,552
|
2,202
|
|||||||
$
|
6,787
|
$
|
5,352
|
June
30,
2008
|
September
30,
2007
|
||||||||
Property
and equipment, net:
|
|||||||||
Computer
hardware (useful lives of 3 years)
|
$
|
4,747
|
$
|
4,167
|
|||||
Purchased
internal-use software (useful lives of 3 years)
|
3,085
|
2,685
|
|||||||
Furniture
and equipment (useful lives of 3 to 7 years)
|
759
|
739
|
|||||||
Leasehold
improvements (shorter of 7 years or the term of the lease)
|
2,869
|
2,883
|
|||||||
11,460
|
10,474
|
||||||||
Accumulated
depreciation and amortization
|
(8,119
|
)
|
(6,836
|
)
|
|||||
$
|
3,341
|
$
|
3,638
|
June
30, 2008
|
September 30,
2007
|
|||||||||||||||||||||||
Gross
Carrying
Amount
|
Accumulated
Amortization
|
Net
Carrying
Amount
|
Gross
Carrying
Amount
|
Accumulated
Amortization
|
Net
Carrying
Amount
|
|||||||||||||||||||
Intangible
assets:
|
||||||||||||||||||||||||
Developed
technologies
|
$
|
6,904
|
$
|
(5,541
|
)
|
$
|
1,363
|
$
|
6,904
|
$
|
(4,869
|
)
|
$
|
2,035
|
||||||||||
Customer
list and trade-names
|
2,731
|
(2,277
|
)
|
454
|
2,731
|
(2,041
|
)
|
690
|
||||||||||||||||
$
|
9,635
|
$
|
(7,818
|
)
|
$
|
1,817
|
$
|
9,635
|
$
|
(6,910
|
)
|
$
|
2,725
|
June
30,
2008
|
September
30,
2007
|
||||||||
Other
assets:
|
|||||||||
Long-term
accounts receivable
|
$
|
—
|
$
|
984
|
|||||
Long-term
restricted cash
|
230
|
265
|
|||||||
Other
assets
|
2,074
|
2,280
|
|||||||
$
|
2,304
|
$
|
3,529
|
June
30,
2008
|
September
30,
2007
|
||||||||
Accrued
expenses:
|
|||||||||
Accrued
payroll, payroll taxes and related expenses
|
$
|
6,355
|
$
|
6,781
|
|||||
Accrued
restructuring expenses, current portion (Note 5)
|
553
|
3,044
|
|||||||
Accrued
third party consulting fees
|
1,299
|
1,264
|
|||||||
Accrued
income, sales and other taxes
|
2,094
|
1,143
|
|||||||
Other
accrued liabilities
|
1,082
|
1,572
|
|||||||
$
|
11,383
|
$
|
13,804
|
June
30,
2008
|
September
30,
2007
|
||||||||
Deferred
revenue:
|
|||||||||
License
|
$
|
16,214
|
$
|
27,409
|
|||||
Support
and maintenance
|
33,334
|
39,292
|
|||||||
Other
|
2,300
|
1,281
|
|||||||
51,848
|
67,982
|
||||||||
Less:
current portion
|
(36,850
|
)
|
(44,548
|
)
|
|||||
Long-term
deferred revenue
|
$
|
14,998
|
$
|
23,434
|
September
30, 2007
|
|||||||||||||||||
Amortized
Cost
|
Gross
Unrealized
Gain
|
Gross
Unrealized
Loss
|
Fair
Value
|
||||||||||||||
Marketable
securities:
|
|||||||||||||||||
Commercial
paper
|
$
|
3,008
|
$
|
—
|
$
|
(1
|
)
|
$
|
3,007
|
||||||||
Corporate
bonds
|
9,153
|
3
|
(4
|
)
|
9,152
|
||||||||||||
Total
|
$
|
12,161
|
$
|
3
|
$
|
(5
|
)
|
$
|
12,159
|
|
•
|
Severance
and Termination Benefits—These costs represent severance and payroll taxes
related to restructuring plans.
|
|
•
|
Excess
Facilities—These costs represent future minimum lease payments related to
excess and abandoned office space under leases, the disposal of property
and equipment including facility leasehold improvements, net of estimated
sublease income.
|
Current
|
Non-Current
|
Total
|
|||||||||||
Severance
and termination
|
$
|
135
|
$
|
—
|
$
|
135
|
|||||||
Excess
facilities
|
418
|
630
|
1,048
|
||||||||||
Total
|
$
|
553
|
$
|
630
|
$
|
1,183
|
Fiscal Year
Ended September 30,
|
Total
Net Future
Minimum
Lease
Payments
|
||||||||||||
2008
(remaining three months)
|
$
|
107
|
|||||||||||
2009
|
412
|
||||||||||||
2010
|
404
|
||||||||||||
2011
|
125
|
||||||||||||
Total
|
$
|
1,048
|
Excess
Facilities
|
|||||
Reserve
balance as of September 30, 2007
|
$
|
2,526
|
|||
Charge/adjustment
|
(36
|
)
|
|||
Non-cash
|
(62
|
)
|
|||
Cash
paid
|
(2,428
|
)
|
|||
Reserve
balance as of June 30, 2008
|
$
|
—
|
Severance
and
Termination
Benefits
|
|||||
Reserve
balance as of September 30, 2007
|
$
|
100
|
|||
Charge/adjustment
|
38
|
||||
Non-cash
|
(3
|
)
|
|||
Cash
paid
|
—
|
||||
Reserve
balance as of June 30, 2008
|
$
|
135
|
Excess
Facilities
|
|||||
Reserve
balance as of September 30, 2007
|
$
|
1,360
|
|||
Non-cash
|
—
|
||||
Cash
paid
|
(312
|
)
|
|||
Reserve
balance as of June 30, 2008
|
$
|
1,048
|
Three
Months Ended June 30,
|
Nine
Months Ended June 30,
|
|||||||||||||||
2008
|
2007
|
2008
|
2007
|
|||||||||||||
Net
income (loss)
|
$
|
759
|
$
|
6,453
|
$
|
(195
|
)
|
$
|
678
|
|||||||
Other
comprehensive income :
|
||||||||||||||||
Foreign
currency translation gain (loss)
|
(44
|
)
|
(109
|
)
|
668
|
422
|
||||||||||
Net
change in unrealized gain (loss) from
investments
|
5
|
(2
|
)
|
2
|
(2
|
)
|
||||||||||
Comprehensive
income
|
$
|
720
|
$
|
6,342
|
$
|
475
|
$
|
1,098
|
Revenue
|
Cost
of Revenues
|
Payments
|
|||||||||||||||||
For
the three
months ended
June
30, 2007
|
For
nine
months ended
June
30, 2007
|
For
the three
months ended
June
30, 2007
|
For
the nine
months ended
June
30, 2007
|
For
the three
months ended
June
30, 2007
|
For
the nine
months ended
June
30, 2007
|
||||||||||||||
$
|
—
|
$
|
81
|
$
|
—
|
$
|
177
|
$
|
—
|
$
|
117
|
||||||||
Revenue
|
Accounts Receivable
|
Deferred
Revenue
|
||||||||||||||||||||||
For
the three
months ended
June
30, 2008
|
For
the nine
months ended
June
30, 2008
|
For
the three
months ended
June
30, 2007
|
For
the nine
months ended
June
30, 2007
|
At
June
30,
2008
|
At
September
30,
2007
|
At
June
30,
2008
|
At
September
30,
2007
|
|||||||||||||||||
$
|
—
|
$
|
116
|
$
|
64
|
$
|
187
|
$
|
—
|
$
|
—
|
$
|
—
|
$
|
116
|
|||||||||
Operating
Leases
|
Operating
Sublease
Income
|
Net
Operating
Leases
|
|||||||||||
Fiscal
year ended September 30:
|
|||||||||||||
2008
(remaining three months)
|
$
|
802
|
$
|
(69
|
)
|
$
|
733
|
||||||
2009
|
3,250
|
(283
|
)
|
2,967
|
|||||||||
2010
|
3,290
|
(293
|
)
|
2,997
|
|||||||||
2011
|
2,721
|
(86
|
)
|
2,635
|
|||||||||
2012
|
1,881
|
—
|
1,881
|
||||||||||
Thereafter
|
1,921
|
—
|
1,921
|
||||||||||
Total
minimum payments
|
$
|
13,865
|
$
|
(731
|
)
|
$
|
13,134
|
Payments
|
|||||||||||||
Fiscal
year ended September 30:
|
|||||||||||||
2008
(remaining three months)
|
$
|
—
|
|||||||||||
2009
|
—
|
||||||||||||
2010
|
—
|
||||||||||||
2011
|
159
|
||||||||||||
2012
|
206
|
||||||||||||
Total
|
$
|
365
|
Options
Outstanding
|
||||||||||||||||||
Shares
Available
for
Grant
|
Shares
|
Weighted
Average
Exercise
Price
|
Weighted
Average
Remaining
Contractual
Life
(Years)
|
Aggregate
Intrinsic
Value
Closing
Price
at
6/30/2008
of
$5.00
|
||||||||||||||
Balance
at September 30, 2007
|
3,058
|
3,178
|
$
|
7.96
|
||||||||||||||
Authorized
|
700
|
—
|
—
|
|||||||||||||||
Options
granted
|
(1,112
|
)
|
1,112
|
9.04
|
||||||||||||||
Restricted
stock awards granted
|
(71
|
)
|
—
|
—
|
||||||||||||||
Restricted
stock units granted *
|
(73
|
)
|
||||||||||||||||
Options
exercised
|
—
|
(105
|
)
|
5.99
|
||||||||||||||
Cancellation
of unvested restricted stock
|
—
|
—
|
—
|
|||||||||||||||
Options
and awards cancelled/forfeited
|
242
|
(242
|
)
|
9.59
|
||||||||||||||
Authorized
reduction in shares from existing plans
|
(11
|
)
|
—
|
—
|
||||||||||||||
Balance
at June 30, 2008
|
2,733
|
3,943
|
$
|
8.22
|
7.5
|
$
|
629
|
|||||||||||
Vested
and expected to vest at June 30, 2008
|
3,110
|
$
|
8.08
|
7.2
|
$
|
620
|
||||||||||||
Exercisable
at June 30, 2008
|
1,976
|
$
|
7.68
|
6.2
|
$
|
606
|
Options
Outstanding
|
Options
Exercisable
|
|||||||||||||||||||||
Range
of
Exercise
Prices
|
Number
Outstanding
|
Weighted
Average
Remaining
Contractual
Life
(Years)
|
Weighted
Average
Exercise
Price
|
Aggregate
Intrinsic
Value
Closing
Price
at
6/30/2008
of
$5.00
|
Number
Exercisable
|
Weighted
Average
Exercise
Price
|
Aggregate
Intrinsic
Value
Closing
Price
at
6/30/08
of
$5.00
|
|||||||||||||||
$0.35
– 4.90
|
458
|
5.50
|
$
|
3.63
|
$
|
629
|
380
|
$
|
3.40
|
$
|
606
|
|||||||||||
4.95
– 7.25
|
439
|
5.42
|
6.15
|
—
|
317
|
6.27
|
—
|
|||||||||||||||
7.30
– 7.88
|
302
|
7.20
|
7.50
|
—
|
176
|
7.51
|
—
|
|||||||||||||||
7.98
– 8.15
|
437
|
7.43
|
7.98
|
—
|
261
|
7.98
|
—
|
|||||||||||||||
8.25
– 8.25
|
772
|
8.46
|
8.25
|
—
|
292
|
8.25
|
—
|
|||||||||||||||
8.28
– 9.13
|
197
|
7.67
|
8.51
|
—
|
98
|
8.55
|
—
|
|||||||||||||||
9.25
– 9.25
|
779
|
9.35
|
9.25
|
—
|
121
|
9.25
|
—
|
|||||||||||||||
9.26
– 12.62
|
287
|
6.64
|
10.48
|
—
|
222
|
10.74
|
—
|
|||||||||||||||
13.04
– 45.00
|
272
|
7.54
|
14.78
|
—
|
109
|
15.99
|
—
|
|||||||||||||||
$0.35
– 45.00
|
3,943
|
7.50
|
$
|
8.22
|
$
|
629
|
1,976
|
$
|
7.68
|
$
|
606
|
Three
Months Ended June 30,
|
Nine
Months Ended June 30,
|
||||||||||||||||
2008
|
2007
|
2008
|
2007
|
||||||||||||||
Stock-based
compensation expense:
|
|||||||||||||||||
Cost
of revenues, service
|
$
|
148
|
$
|
63
|
$
|
411
|
$
|
224
|
|||||||||
Sales
and marketing
|
240
|
(1
|
)
|
711
|
565
|
||||||||||||
Research
and development
|
183
|
134
|
527
|
396
|
|||||||||||||
General
and administrative
|
787
|
169
|
1,867
|
1,049
|
|||||||||||||
Total
stock-based compensation expense
|
$
|
1,358
|
$
|
365
|
$
|
3,516
|
$
|