2016 Q1 Form 10-K Financial Statement

#000162828016011521 Filed on February 23, 2016

View on sec.gov

Income Statement

Concept 2016 Q1 2014 Q4 2014 Q3
Revenue $489.0K $4.219M $1.083M
YoY Change -88.36% -22.64% -82.3%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $5.100M $3.280M $2.570M
YoY Change 40.11% 74.47% 33.85%
% of Gross Profit
Research & Development $16.76M $10.47M $10.17M
YoY Change 24.85% 27.22% 43.16%
% of Gross Profit
Depreciation & Amortization $419.0K $390.0K $400.0K
YoY Change 6.35% 8.33% 8.11%
% of Gross Profit
Operating Expenses $21.87M $13.75M $12.74M
YoY Change 28.09% 35.94% 41.22%
Operating Profit -$21.38M -$11.66M
YoY Change 66.09% 301.34%
Interest Expense $24.00K $100.0K $10.00K
YoY Change 200.0% 42.86% 42.86%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$21.21M -$22.17M -$9.798M
YoY Change 46.38% 1036.92% 351.73%
Income Tax -$5.000K $0.00 $0.00
% Of Pretax Income
Net Earnings -$21.21M -$22.17M -$9.798M
YoY Change 46.39% 1050.39% 352.77%
Net Earnings / Revenue -4336.81% -525.43% -904.71%
Basic Earnings Per Share -$0.40 -$0.47 -$0.23
Diluted Earnings Per Share -$4.831M -$0.47 -$0.26
COMMON SHARES
Basic Shares Outstanding 52.70M shares 48.60M shares 43.41M shares
Diluted Shares Outstanding 44.86M shares

Balance Sheet

Concept 2016 Q1 2014 Q4 2014 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $105.1M $159.7M $94.10M
YoY Change -29.37% 40.09% -24.05%
Cash & Equivalents $19.25M $37.33M $9.958M
Short-Term Investments $85.80M $122.4M $84.10M
Other Short-Term Assets $410.0K $742.0K $4.000M
YoY Change -91.63% -76.06% 207.69%
Inventory
Prepaid Expenses $9.272M
Receivables $100.0K $300.0K
Other Receivables $0.00 $0.00
Total Short-Term Assets $115.8M $165.0M $98.02M
YoY Change -26.97% 40.76% -21.76%
LONG-TERM ASSETS
Property, Plant & Equipment $10.96M $3.568M $3.840M
YoY Change 218.12% -5.31% -3.54%
Goodwill
YoY Change
Intangibles $1.069M $1.150M $1.114M
YoY Change -1.66% 1.95% -2.71%
Long-Term Investments
YoY Change
Other Assets $354.0K $1.811M $1.038M
YoY Change -80.33% 83.49% 483.15%
Total Long-Term Assets $12.38M $6.529M $5.992M
YoY Change 95.53% 10.98% 12.97%
TOTAL ASSETS
Total Short-Term Assets $115.8M $165.0M $98.02M
Total Long-Term Assets $12.38M $6.529M $5.992M
Total Assets $128.1M $171.5M $104.0M
YoY Change -22.27% 39.34% -20.35%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.622M $2.188M $2.642M
YoY Change 35.3% 86.69% 131.75%
Accrued Expenses $5.456M $4.402M $3.633M
YoY Change 2.59% 46.1% 113.08%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $23.40M
YoY Change
Total Short-Term Liabilities $11.01M $35.19M $11.89M
YoY Change -23.27% 239.36% -12.08%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $10.70M
YoY Change -100.0% -23.02%
Other Long-Term Liabilities $7.850M $1.022M $1.142M
YoY Change 769.32% -29.95% -26.7%
Total Long-Term Liabilities $7.850M $1.022M $1.142M
YoY Change 769.32% -29.95% -26.7%
TOTAL LIABILITIES
Total Short-Term Liabilities $11.01M $35.19M $11.89M
Total Long-Term Liabilities $7.850M $1.022M $1.142M
Total Liabilities $20.91M $39.47M $29.94M
YoY Change 16.01% 33.3% -17.18%
SHAREHOLDERS EQUITY
Retained Earnings -$212.7M -$135.8M -$113.6M
YoY Change 41.57% 71.67% 47.23%
Common Stock $320.0M $268.0M $43.00K
YoY Change 7.67% 637942.86% 2.38%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $107.2M $132.0M $74.08M
YoY Change
Total Liabilities & Shareholders Equity $128.1M $171.5M $104.0M
YoY Change -22.27% 39.34% -20.35%

Cashflow Statement

Concept 2016 Q1 2014 Q4 2014 Q3
OPERATING ACTIVITIES
Net Income -$21.21M -$22.17M -$9.798M
YoY Change 46.39% 1050.39% 352.77%
Depreciation, Depletion And Amortization $419.0K $390.0K $400.0K
YoY Change 6.35% 8.33% 8.11%
Cash From Operating Activities -$8.930M -$11.66M -$8.800M
YoY Change -20.64% 25.24% 98.65%
INVESTING ACTIVITIES
Capital Expenditures $395.0K -$30.00K -$390.0K
YoY Change 67.37% -84.21% 14.71%
Acquisitions
YoY Change
Other Investing Activities $12.09M -$38.81M $8.960M
YoY Change -269.09% 529.01% -132.99%
Cash From Investing Activities $11.69M -$38.84M $8.580M
YoY Change -258.2% 509.73% -131.21%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $363.0K
YoY Change 41.25%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $528.0K 77.87M 160.0K
YoY Change -42.3% -778800.0% -99.65%
NET CHANGE
Cash From Operating Activities -$8.930M -11.66M -8.800M
Cash From Investing Activities $11.69M -38.84M 8.580M
Cash From Financing Activities $528.0K 77.87M 160.0K
Net Change In Cash $3.289M 27.37M -60.00K
YoY Change -118.55% -274.44% -100.42%
FREE CASH FLOW
Cash From Operating Activities -$8.930M -$11.66M -$8.800M
Capital Expenditures $395.0K -$30.00K -$390.0K
Free Cash Flow -$9.325M -$11.63M -$8.410M
YoY Change -18.83% 27.52% 105.62%

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CY2014 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
100000 USD
CY2015 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
100000 USD
CY2015 us-gaap Defined Contribution Plan Employer Matching Contribution Percent
DefinedContributionPlanEmployerMatchingContributionPercent
0.25
CY2015 us-gaap Defined Contribution Plan Maximum Annual Contributions Per Employee Percent
DefinedContributionPlanMaximumAnnualContributionsPerEmployeePercent
0.06
CY2013 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
1360000 USD
CY2014 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
1490000 USD
CY2015 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
1591000 USD
CY2014Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.30
CY2014Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.28
CY2014Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.23
CY2014Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.47
CY2013 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.49
CY2014 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-1.29
CY2015Q1 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.29
CY2015Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.41
CY2015Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.25
CY2015Q4 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.14
CY2015 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-1.08
CY2014Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.30
CY2014Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.29
CY2014Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.26
CY2014Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.47
CY2014Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
2108000 USD
CY2015Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
2392000 USD
CY2015Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
12400000 USD
CY2015 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P1Y7M6D
CY2014 us-gaap Fair Value Assumptions Risk Free Interest Rate
FairValueAssumptionsRiskFreeInterestRate
0.0010
CY2014 us-gaap Fair Value Assumptions Weighted Average Volatility Rate
FairValueAssumptionsWeightedAverageVolatilityRate
1.10
CY2014 us-gaap Fair Value Inputs Entity Credit Risk
FairValueInputsEntityCreditRisk
0.097
CY2014Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
296000 USD
CY2015Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
379000 USD
CY2015Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
100000 USD
CY2015Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
100000 USD
CY2015Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
100000 USD
CY2015Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
100000 USD
CY2014Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
1446000 USD
CY2015Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
1460000 USD
CY2015Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
100000 USD
CY2014Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
1150000 USD
CY2013 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-18691000 USD
CY2014 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-56679000 USD
CY2015Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
1081000 USD
CY2013 us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
0 USD
CY2014 us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
-18000 USD
CY2015 us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
-98000 USD
CY2013 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
7429000 USD
CY2014 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
11533000 USD
CY2015 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
19130000 USD
CY2015Q3 us-gaap Incentive From Lessor
IncentiveFromLessor
8500000 USD
CY2015Q3 us-gaap Incentive From Lessor
IncentiveFromLessor
1400000 USD
CY2014Q4 us-gaap Incentive To Lessee
IncentiveToLessee
600000 USD
CY2015Q4 us-gaap Incentive To Lessee
IncentiveToLessee
300000 USD
CY2015 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-55766000 USD
CY2013 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-23000 USD
CY2014 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1000 USD
CY2015 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-18000 USD
CY2013 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
9026000 USD
CY2014 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
20047000 USD
CY2015 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
23216000 USD
CY2013 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-6355000 USD
CY2014 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-19271000 USD
CY2015 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-18960000 USD
CY2013 us-gaap Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost
IncomeTaxReconciliationNondeductibleExpenseShareBasedCompensationCost
667000 USD
CY2014 us-gaap Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost
IncomeTaxReconciliationNondeductibleExpenseShareBasedCompensationCost
902000 USD
CY2015 us-gaap Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost
IncomeTaxReconciliationNondeductibleExpenseShareBasedCompensationCost
1161000 USD
CY2013 us-gaap Income Tax Reconciliation Other Reconciling Items
IncomeTaxReconciliationOtherReconcilingItems
-86000 USD
CY2014 us-gaap Income Tax Reconciliation Other Reconciling Items
IncomeTaxReconciliationOtherReconcilingItems
-50000 USD
CY2015 us-gaap Income Tax Reconciliation Other Reconciling Items
IncomeTaxReconciliationOtherReconcilingItems
204000 USD
CY2013 us-gaap Income Tax Reconciliation Prior Year Income Taxes
IncomeTaxReconciliationPriorYearIncomeTaxes
-235000 USD
CY2014 us-gaap Income Tax Reconciliation Prior Year Income Taxes
IncomeTaxReconciliationPriorYearIncomeTaxes
-92000 USD
CY2015 us-gaap Income Tax Reconciliation Prior Year Income Taxes
IncomeTaxReconciliationPriorYearIncomeTaxes
110000 USD
CY2013 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
-1090000 USD
CY2014 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
-2348000 USD
CY2015 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
-1580000 USD
CY2013 us-gaap Income Tax Reconciliation Tax Credits
IncomeTaxReconciliationTaxCredits
2406000 USD
CY2014 us-gaap Income Tax Reconciliation Tax Credits
IncomeTaxReconciliationTaxCredits
3307000 USD
CY2015 us-gaap Income Tax Reconciliation Tax Credits
IncomeTaxReconciliationTaxCredits
5039000 USD
CY2013 us-gaap Income Taxes Paid
IncomeTaxesPaid
1000 USD
CY2014 us-gaap Income Taxes Paid
IncomeTaxesPaid
1000 USD
CY2015 us-gaap Income Taxes Paid
IncomeTaxesPaid
1000 USD
CY2013 us-gaap Increase Decrease In Accounts And Other Receivables
IncreaseDecreaseInAccountsAndOtherReceivables
79000 USD
CY2014 us-gaap Increase Decrease In Accounts And Other Receivables
IncreaseDecreaseInAccountsAndOtherReceivables
196000 USD
CY2015 us-gaap Increase Decrease In Accounts And Other Receivables
IncreaseDecreaseInAccountsAndOtherReceivables
9746000 USD
CY2013 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
860000 USD
CY2014 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
940000 USD
CY2015 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
529000 USD
CY2013 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
1355000 USD
CY2014 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
556000 USD
CY2015 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
2094000 USD
CY2013 us-gaap Increase Decrease In Deferred Liabilities
IncreaseDecreaseInDeferredLiabilities
-11000 USD
CY2014 us-gaap Increase Decrease In Deferred Liabilities
IncreaseDecreaseInDeferredLiabilities
-282000 USD
CY2015 us-gaap Increase Decrease In Deferred Liabilities
IncreaseDecreaseInDeferredLiabilities
-379000 USD
CY2013 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
-16819000 USD
CY2014 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
-5039000 USD
CY2015 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
-3090000 USD
CY2013 us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
-51000 USD
CY2014 us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
811000 USD
CY2015 us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
284000 USD
CY2013 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
393000 USD
CY2014 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
87000 USD
CY2015 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
176000 USD
CY2013 us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
1890000 USD
CY2014 us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
1795000 USD
CY2015 us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
3967000 USD
CY2014Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
1150000 USD
CY2015Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
1081000 USD
CY2013 us-gaap Interest And Other Income
InterestAndOtherIncome
292000 USD
CY2014 us-gaap Interest And Other Income
InterestAndOtherIncome
388000 USD
CY2015 us-gaap Interest And Other Income
InterestAndOtherIncome
855000 USD
CY2013 us-gaap Interest Expense
InterestExpense
36000 USD
CY2014 us-gaap Interest Expense
InterestExpense
39000 USD
CY2015 us-gaap Interest Expense
InterestExpense
52000 USD
CY2013 us-gaap Interest Paid
InterestPaid
37000 USD
CY2014 us-gaap Interest Paid
InterestPaid
39000 USD
CY2015 us-gaap Interest Paid
InterestPaid
27000 USD
CY2013 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
700000 USD
CY2014 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
700000 USD
CY2015 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
600000 USD
CY2014Q4 us-gaap Liabilities
Liabilities
39466000 USD
CY2015Q4 us-gaap Liabilities
Liabilities
17005000 USD
CY2014Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
171480000 USD
CY2015Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
141083000 USD
CY2014Q4 us-gaap Liabilities Current
LiabilitiesCurrent
35192000 USD
CY2015Q4 us-gaap Liabilities Current
LiabilitiesCurrent
12632000 USD
CY2013 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
46474000 USD
CY2014 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
88237000 USD
CY2015 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
7017000 USD
CY2013 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-40889000 USD
CY2014 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-29207000 USD
CY2015 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
21475000 USD
CY2013 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-28330000 USD
CY2014 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-39510000 USD
CY2015 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-49859000 USD
CY2013 us-gaap Net Income Loss
NetIncomeLoss
-18668000 USD
CY2014Q1 us-gaap Net Income Loss
NetIncomeLoss
-12741000 USD
CY2014Q2 us-gaap Net Income Loss
NetIncomeLoss
-11973000 USD
CY2014Q3 us-gaap Net Income Loss
NetIncomeLoss
-9798000 USD
CY2014Q4 us-gaap Net Income Loss
NetIncomeLoss
-22168000 USD
CY2014 us-gaap Net Income Loss
NetIncomeLoss
-56680000 USD
CY2015Q1 us-gaap Net Income Loss
NetIncomeLoss
-14487000 USD
CY2015Q2 us-gaap Net Income Loss
NetIncomeLoss
-21035000 USD
CY2015Q3 us-gaap Net Income Loss
NetIncomeLoss
-13000000 USD
CY2015Q4 us-gaap Net Income Loss
NetIncomeLoss
-7226000 USD
CY2015 us-gaap Net Income Loss
NetIncomeLoss
-55748000 USD
CY2013 us-gaap Noncash Or Part Noncash Acquisition Intangible Assets Acquired1
NoncashOrPartNoncashAcquisitionIntangibleAssetsAcquired1
11000 USD
CY2014 us-gaap Noncash Or Part Noncash Acquisition Intangible Assets Acquired1
NoncashOrPartNoncashAcquisitionIntangibleAssetsAcquired1
42000 USD
CY2015 us-gaap Noncash Or Part Noncash Acquisition Intangible Assets Acquired1
NoncashOrPartNoncashAcquisitionIntangibleAssetsAcquired1
28000 USD
CY2013 us-gaap Nonoperating Gains Losses
NonoperatingGainsLosses
-1145000 USD
CY2013 us-gaap Nonoperating Gains Losses
NonoperatingGainsLosses
-1100000 USD
CY2014 us-gaap Nonoperating Gains Losses
NonoperatingGainsLosses
-12118000 USD
CY2014 us-gaap Nonoperating Gains Losses
NonoperatingGainsLosses
-12100000 USD
CY2015 us-gaap Nonoperating Gains Losses
NonoperatingGainsLosses
-1800000 USD
CY2015 us-gaap Nonoperating Gains Losses
NonoperatingGainsLosses
-1811000 USD
CY2015 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1 Segments
CY2013 us-gaap Operating Expenses
OperatingExpenses
37371000 USD
CY2014Q1 us-gaap Operating Expenses
OperatingExpenses
12336000 USD
CY2014Q2 us-gaap Operating Expenses
OperatingExpenses
13749000 USD
CY2014Q3 us-gaap Operating Expenses
OperatingExpenses
12742000 USD
CY2014Q4 us-gaap Operating Expenses
OperatingExpenses
13752000 USD
CY2014 us-gaap Operating Expenses
OperatingExpenses
52579000 USD
CY2015Q1 us-gaap Operating Expenses
OperatingExpenses
17071000 USD
CY2015Q2 us-gaap Operating Expenses
OperatingExpenses
25015000 USD
CY2015Q3 us-gaap Operating Expenses
OperatingExpenses
15210000 USD
CY2015Q4 us-gaap Operating Expenses
OperatingExpenses
18221000 USD
CY2015 us-gaap Operating Expenses
OperatingExpenses
75517000 USD
CY2013 us-gaap Operating Income Loss
OperatingIncomeLoss
-17802000 USD
CY2014 us-gaap Operating Income Loss
OperatingIncomeLoss
-44910000 USD
CY2015 us-gaap Operating Income Loss
OperatingIncomeLoss
-54758000 USD
CY2015Q4 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
21698000 USD
CY2015Q4 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
1699000 USD
CY2015Q4 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
2733000 USD
CY2015Q4 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
2654000 USD
CY2015Q4 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
2575000 USD
CY2015Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
2330000 USD
CY2015Q4 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
9707000 USD
CY2014Q4 us-gaap Other Assets Current
OtherAssetsCurrent
742000 USD
CY2013 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
36000 USD
CY2014 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-181000 USD
CY2015 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
64000 USD
CY2014Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
1811000 USD
CY2015Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
344000 USD
CY2015Q4 us-gaap Other Assets Current
OtherAssetsCurrent
759000 USD
CY2014Q4 us-gaap Revenues
Revenues
4219000 USD
CY2014Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
1022000 USD
CY2015Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
2308000 USD
CY2013 us-gaap Other Significant Noncash Transaction Value Of Consideration Received1
OtherSignificantNoncashTransactionValueOfConsiderationReceived1
653000 USD
CY2014 us-gaap Other Significant Noncash Transaction Value Of Consideration Received1
OtherSignificantNoncashTransactionValueOfConsiderationReceived1
0 USD
CY2015 us-gaap Other Significant Noncash Transaction Value Of Consideration Received1
OtherSignificantNoncashTransactionValueOfConsiderationReceived1
1656000 USD
CY2013 us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
35000 USD
CY2014 us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
65000 USD
CY2015 us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
67000 USD
CY2013 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
800000 USD
CY2014 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1146000 USD
CY2015 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1363000 USD
CY2013 us-gaap Payments To Acquire Short Term Investments
PaymentsToAcquireShortTermInvestments
72005000 USD
CY2014 us-gaap Payments To Acquire Short Term Investments
PaymentsToAcquireShortTermInvestments
113417000 USD
CY2015 us-gaap Payments To Acquire Short Term Investments
PaymentsToAcquireShortTermInvestments
78401000 USD
CY2014Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
4192000 USD
CY2015Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
8159000 USD
CY2013 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
45980000 USD
CY2014 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
86146000 USD
CY2015 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
492000 USD
CY2013 us-gaap Proceeds From Sale Maturity And Collection Of Shortterm Investments
ProceedsFromSaleMaturityAndCollectionOfShorttermInvestments
31951000 USD
CY2014 us-gaap Proceeds From Sale Maturity And Collection Of Shortterm Investments
ProceedsFromSaleMaturityAndCollectionOfShorttermInvestments
85421000 USD
CY2015 us-gaap Proceeds From Sale Maturity And Collection Of Shortterm Investments
ProceedsFromSaleMaturityAndCollectionOfShorttermInvestments
101306000 USD
CY2013 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
594000 USD
CY2013 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
600000 USD
CY2014 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
2233000 USD
CY2014 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
2200000 USD
CY2015 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
6680000 USD
CY2014Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
8721000 USD
CY2015Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
11850000 USD
CY2014Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
3568000 USD
CY2015Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
5400000 USD
CY2013 us-gaap Repayments Of Other Long Term Debt
RepaymentsOfOtherLongTermDebt
100000 USD
CY2014 us-gaap Repayments Of Other Long Term Debt
RepaymentsOfOtherLongTermDebt
142000 USD
CY2015 us-gaap Repayments Of Other Long Term Debt
RepaymentsOfOtherLongTermDebt
155000 USD
CY2013 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
29942000 USD
CY2014 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
41046000 USD
CY2015 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
56387000 USD
CY2014Q4 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
0 USD
CY2015Q4 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
1256000 USD
CY2015Q3 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
1400000 USD
CY2014Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-135767000 USD
CY2015Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-191515000 USD
CY2013 us-gaap Revenues
Revenues
19569000 USD
CY2014Q1 us-gaap Revenues
Revenues
1631000 USD
CY2014Q2 us-gaap Revenues
Revenues
736000 USD
CY2014Q3 us-gaap Revenues
Revenues
1083000 USD
CY2014 us-gaap Revenues
Revenues
7669000 USD
CY2015Q1 us-gaap Revenues
Revenues
4200000 USD
CY2015Q2 us-gaap Revenues
Revenues
3834000 USD
CY2015Q3 us-gaap Revenues
Revenues
1865000 USD
CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
5700000 USD
CY2014 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
12100000 USD
CY2015 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
21400000 USD
CY2015 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
1133000 shares
CY2015 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
13.13
CY2015Q4 us-gaap Revenues
Revenues
10860000 USD
CY2015 us-gaap Revenues
Revenues
20759000 USD
CY2015 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
1915000 shares
CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
4.14
CY2014 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
8.37
CY2015 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
7.47
CY2015Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
8461000 USD
CY2014Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
6643000 shares
CY2015 us-gaap Severance Costs1
SeveranceCosts1
3900000 USD
CY2013 us-gaap Share Based Compensation
ShareBasedCompensation
3422000 USD
CY2014 us-gaap Share Based Compensation
ShareBasedCompensation
7039000 USD
CY2015 us-gaap Share Based Compensation
ShareBasedCompensation
15368000 USD
CY2015Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
1963000 shares
CY2015Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
6.37
CY2015Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
5125667 shares
CY2015Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
5126000 shares
CY2014Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
6.95
CY2015Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
8.91
CY2015Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
8319000 USD
CY2015Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
4911000 shares
CY2015Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
8.83
CY2015 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
2.95
CY2015 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
10.98
CY2015Q1 us-gaap Share Price
SharePrice
18.58
CY2015Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
5816000 USD
CY2015 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P5Y3M18D
CY2015 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y7M6D
CY2015 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P7Y7M6D
CY2014Q4 us-gaap Short Term Investments
ShortTermInvestments
122416000 USD
CY2015Q4 us-gaap Short Term Investments
ShortTermInvestments
98103000 USD
CY2015 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
2299000 shares
CY2013 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
201000 USD
CY2014 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
283000 USD
CY2015 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
492000 USD
CY2013 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
45779000 USD
CY2014 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
76294000 USD
CY2015 us-gaap Stock Issued During Period Value Other
StockIssuedDuringPeriodValueOther
25208000 USD
CY2013 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
594000 USD
CY2014 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
2233000 USD
CY2015 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
6680000 USD
CY2012Q4 us-gaap Stockholders Equity
StockholdersEquity
62093000 USD
CY2013Q4 us-gaap Stockholders Equity
StockholdersEquity
93457000 USD
CY2014Q4 us-gaap Stockholders Equity
StockholdersEquity
132014000 USD
CY2015Q4 us-gaap Stockholders Equity
StockholdersEquity
124078000 USD
CY2012Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
569000 USD
CY2013Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
1092000 USD
CY2014Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
1853000 USD
CY2015Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
2298000 USD
CY2013 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
386000 USD
CY2014 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
834000 USD
CY2015 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
695000 USD
CY2013 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
38479447 shares
CY2014 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
44090165 shares
CY2015 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
51411353 shares
CY2015 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:20px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Concentrations of Credit Risk </font></div><div style="line-height:120%;padding-top:4px;text-align:left;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Financial instruments that potentially subject us to significant concentrations of credit risk consist primarily of cash equivalents and short-term investments. We maintain deposits in federally insured financial institutions in excess of federally insured limits. We have not experienced any losses in such accounts and believe we are not exposed to significant risk. We maintain our cash equivalents and short-term investments with three financial institutions. We invest our excess cash primarily in commercial paper, certificates of deposit and debt instruments of financial institutions and corporations. Additionally, we adhere to established guidelines regarding approved investments and maturities of investments, which are designed to preserve their principal value and maintain liquidity.</font></div></div>
CY2015 us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Use of Estimates</font></div><div style="line-height:120%;padding-top:8px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Our financial statements are prepared in accordance with GAAP, which requires us to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses and the disclosure of contingent assets and liabilities in our financial statements and accompanying notes. An estimated loss contingency is accrued in our financial statements if it is probable that a liability has been incurred and the amount of the loss can be reasonably estimated. Although these estimates are based on our knowledge of current events and actions we may undertake in the future, actual results may ultimately differ from these estimates and assumptions.</font></div></div>

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