TeleNav 2015 Annual Report Download - page 111
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Table of Contents
Expected volatility . Due to the limited historical public market trading data for our common stock, the expected volatility used is based on
the historical volatility of our common stock as well as the common stock of various comparable companies. In evaluating similarity, we
considered factors such as industry, stage of a company’s life cycle, revenue and market capitalization.
Expected term . The expected term represents the period that our stock-based awards are expected to be outstanding. The expected term
was based on an analysis of our historical exercise and cancellation activity.
Risk-free interest rate . The risk-free rate is based on U.S. Treasury zero coupon issues with remaining terms similar to the expected term
on the options.
Dividend yield . We have never declared or paid any cash dividends on our common stock and do not plan to pay cash dividends in the
foreseeable future and, therefore, use an expected dividend yield of zero in the valuation model.
We recognize the estimated stock-based compensation cost of RSUs and restricted common stock, net of estimated forfeitures, over the
vesting term. The estimated stock-based compensation cost is based on the fair value of our common stock on the date of grant.
At June 30, 2015 , the total unrecognized stock-based compensation cost related to employee options was $1.8 million , net of estimated
forfeitures, and will be amortized over a weighted average period of 2.2 years. The total fair value of stock options that vested during fiscal
2015 , 2014 and 2013 was $1.8 million , $4.1 million and $4.9 million , respectively. At June 30, 2015 , the total unrecognized stock-based
compensation cost related to RSUs was $17.9 million , net of estimated forfeitures, and will be amortized over a weighted average period of 2.5
years. The total fair value of RSUs that vested during fiscal
2015 , 2014 and 2013 was $8.2 million , $4.1 million and $298,000 , respectively.
Shares reserved for future issuance
Common stock reserved for future issuance as of June 30, 2015 was as follows (in thousands):
The domestic and foreign components of income (loss) before provision (benefit) for income taxes were as follows (in thousands):
The provision (benefit) for income taxes consists of the following (in thousands):
F-26
Stock options outstanding
4,781
RSUs outstanding
4,290
Available for future grants
1,947
Total common shares reserved for future issuance
11,018
9.
Income taxes
Fiscal Year Ended June 30,
2015
2014
2013
United States
$
(37,583
)
$
(34,549
)
$
4,724
Foreign
1,514
1,010
1,950
Income (loss) from continuing operations
(36,069
)
(33,539
)
6,674
Income from discontinued operations
—
—
11,712
Total income (loss) before provision (benefit) for income taxes
$
(36,069
)
$
(33,539
)
$
18,386