Share-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2016

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Share-based compensation expense included in costs and expenses

	Three Months Ended June 30,				Six Months Ended June 30,
	2016		2015		2016		2015
	(in thousands)
Share-based compensation expense:
Cost of revenues	$	14	$	38	$	28	$	63
Sales and marketing [1]		341		146		974		287
Technology support [2]		98		153		429		227
General and administrative [3]		418		217		807		634
Share-based compensation costs		871		554		2,238		1,211
Amount capitalized to internal use software		5		2		8		6
Total share-based compensation costs	$	866	$	552	$	2,230	$	1,205

(1)  Certain awards were modified in connection with the termination of an executive officer’s employment with the Company and their vesting accelerated in accordance with the terms of the applicable option agreements.  The total expense related to these modifications and acceleration of vested awards was approximately $0.3 million in the six months ended June 30, 2016.

(2)  The vesting of certain awards was accelerated in accordance with the terms of the applicable option agreements in connection with the termination of an executive officer’s employment with the Company.  The total expense related to acceleration of vested awards was approximately $0.2 million in the six months ended June 30, 2016.

(3)  Certain awards were modified in accordance with the Company’s former Chief Financial Officer’s consulting agreement and their vesting accelerated in accordance with the terms of the applicable option agreements.  The total expense related to these modifications and acceleration of vested awards was approximately $0.2 million in the six months ended June 30, 2015.

Service based options granted during period

	Three Months Ended June 30,				Six Months Ended June 30,
	2016		2015		2016		2015
Number of service-based options granted		62,500		269,500		491,400		584,550
Weighted average grant date fair value	$	6.75	$	6.75	$	7.94	$	5.62
Weighted average exercise price	$	14.18	$	14.60	$	16.75	$	12.24

Stock option exercises

	Three Months Ended June 30,				Six Months Ended June 30,
	2016		2015		2016		2015
Number of stock options exercised		104,634		18,821		158,473		19,074
Weighted average exercise price	$	7.35	$	5.90	$	9.26	$	5.92

Fair value of stock options granted using the following weighted average assumptions

	Three Months Ended June 30,					Six Months Ended June 30,
	2016			2015		2016			2015
Dividend yield		—			—		—			—
Volatility		59	%		57%		58	%		56	%
Risk-free interest rate		1.1	%		1.3%		1.3	%		1.3	%
Expected life (years)		4.4			4.4		4.4			4.4