Income Taxes (Tables)

12 Months Ended

Dec. 31, 2012

Components of Provision for Income Taxes

The components of provision for income taxes for all years presented were as follows (in thousands):

	Year Ended December 31,
	2010		2011		2012
Current tax provision:
Federal	$	—	$	—	$	—
State		2		2		2
Deferred tax provision:		—		—		—
Federal		—		—		—
State	$	2	$	2	$	2

Reconciliation of Statutory Federal Income Tax Rate to Actual Tax Rate

A reconciliation of the statutory federal income tax rate of 34% to the actual tax rate is as follows (in thousands):

	Year Ended December 31,
	2010			2011			2012
Tax computed at the statutory U.S. federal income tax rate	$	(2,026	)	$	(1,486	)	$	(2,008	)
Net operating loss carrryforwards		1,938			1,376			1,488
Stock-based compensation		79			109			517
Other		11			3			5
	$	2		$	2		$	2

Company's Deferred Tax Assets Components

The components of the Company’s deferred tax assets were as follows (in thousands):

	Year Ended December 31,
	2011			2012
Assets:
Net operating loss carryforwards	$	20,978		$	22,331
Stock based compensation		378			663
Other		517			497
Gross deferred tax assets		21,873			23,491
Valuation allowance		(21,873	)		(23,458	)
Total deferred tax assets		—			33
Liabilities:
Property, equipment and software, net		—			(33	)
Net deferred tax assets	$	—		$	—