Quarterly report pursuant to Section 13 or 15(d)

Fair Value Measurements (Tables)

v3.2.0.727
Fair Value Measurements (Tables)
 6 Months Ended
Jun. 30, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]  
Schedule of contingent consideration related to acquisitions
The following table discloses the liabilities measured at fair value on a recurring basis as of June 30, 2015 and December 31, 2014:
 
Fair value at June 30, 2015
(in thousands)
 
Total
 
Level 1
 
Level 2
 
Level 3
Contingent consideration related to the acquisition of:
 
 
 
 
 
 
 
Active Building
$
463

 
$
—

 
$
—

 
$
463

MyBuilding
74

 
—

 
—

 
74

InstaManager
3,336

 
—

 
—

 
3,336

     VMM
—

 
—

 
—

 
—

Indatus
1,168

 
—

 
—

 
1,168

VRX
491

 
—

 
—

 
491

 
$
5,532

 
$
—

 
$
—

 
$
5,532

 
Fair value at December 31, 2014
(in thousands)
 
Total
 
Level 1
 
Level 2
 
Level 3
Contingent consideration related to the acquisition of:
 
 
 
 
 
 
 
Active Building
$
1,566

 
$
—

 
$
—

 
$
1,566

MyBuilding
248

 
—

 
—

 
248

InstaManager
2,335

 
—

 
—

 
2,335

     VMM
1

 
—

 
—

 
1

 
$
4,150

 
$
—

 
$
—

 
$
4,150

Schedule of change in level 3 fair values
The following table summarizes the changes in the fair value of our Level 3 liabilities for the six months ended June 30, 2015 and 2014:
 
Six Months Ended June 30,
 
2015
 
2014
 
(in thousands)
Balance at beginning of period
$
4,150

 
$
1,827

Initial contingent consideration
1,659

 
2,939

Settlements through cash payments
(687
)
 
—

Net loss (gain) on change in fair value
410

 
(73
)
Balance at end of period
$
5,532

 
$
4,693

Recurring  
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]  
Schedule of fair value inputs
Significant unobservable inputs used in the contingent consideration fair value measurements included the following at June 30, 2015 and December 31, 2014:
 
 
June 30, 2015
 
December 31, 2014
Discount rates
 
15.8 - 60.5%
 
22.5 - 64.0%
Volatility rates
 
35.0 - 54.0%
 
45.0 - 48.0%
Risk free rate of return
 
0.1% - 0.2%
 
0.1% - 0.2%