Quarterly Financial Information

12 Months Ended

Dec. 31, 2016

Quarterly Financial Information Disclosure [Abstract]

Quarterly Financial Information

15. Quarterly Financial Information (Unaudited)

Following is a summary of unaudited quarterly financial information for 2016 and 2015:

	Condensed Consolidated Statements of Operations
	2016
	Q4			Q3			Q2			Q1
				(in thousands, except per share data)
Revenue	$	26,797		$	22,467		$	22,738		$	25,439
Gross profit		3,954			3,677			3,893			4,296
Income (loss) from operations		(1,307	)		(415	)		(85	)		649
Net income (loss)	$	(1,261	)	$	(106	)	$	(185	)	$	500
Basic income (loss) per share	$	(0.10	)	$	(0.01	)	$	(0.02	)	$	0.04
Diluted income (loss) per share	$	(0.10	)	$	(0.01	)	$	(0.02	)	$	0.04
Shares used in calculation of income (loss) per share:
Basic		12,473			12,310			12,152			12,102
Diluted		12,473			12,310			12,152			12,531

	Condensed Consolidated Statements of Operations
	2015
	Q4		Q3		Q2		Q1
			(in thousands, except per share data)
Revenue	$	25,028	$	26,435	$	28,873	$	26,265
Gross profit		4,916		4,873		5,232		5,449
Income from operations		1,297		1,387		1,871		1,876
Net income	$	1,140	$	1,245	$	1,885	$	1,823
Basic income per share	$	0.09	$	0.10	$	0.16	$	0.15
Diluted income per share	$	0.09	$	0.10	$	0.15	$	0.15
Shares used in calculation of income per share:
Basic		12,047		11,959		11,856		11,778
Diluted		12,649		12,466		12,295		12,057

	Condensed Consolidated Balance Sheets
	2016
	December 31			September 30			June 30			March 31
	(in thousands)
Cash, cash equivalents and short-term investments	$	33,200		$	31,577		$	26,898		$	27,626
Accounts receivable, net		21,579			19,808			19,377			21,323
Total current assets		55,657			51,844			47,059			49,683
Total assets		61,008			57,355			52,680			55,389
Third-party software fees payable		14,831			11,068			8,403			12,045
Accounts payable		283			284			328			470
Accrued compensation		2,008			1,924			2,093			1,553
Other accrued expenses		714			741			1,715			1,208
Total current liabilities		20,221			15,502			13,407			16,322
Common stock		135,660			135,043			134,264			133,774
Accumulated deficit		(96,607	)		(95,346	)		(95,240	)		(846	)
Total shareholders' equity		38,112			38,790			38,166			37,873
Total liabilities and shareholders' equity		61,008			57,355			52,680			55,389

	Condensed Consolidated Balance Sheets
	2015
	December 31			September 30			June 30			March 31
	(in thousands)
Cash, cash equivalents and short-term investments	$	29,723		$	29,311		$	29,430		$	26,594
Accounts receivable, net		19,009			15,560			15,418			13,490
Total current assets		49,312			45,395			45,557			40,799
Total assets		55,258			51,593			51,813			47,161
Third-party software fees payable		11,789			10,184			12,361			10,793
Accounts payable		188			285			191			211
Accrued compensation		2,390			2,333			2,173			1,738
Other accrued expenses		1,277			1,320			1,501			1,374
Total current liabilities		17,077			15,120			17,147			14,951
Common stock		133,331			132,601			131,962			131,410
Accumulated deficit		(95,555	)		(96,695	)		(97,940	)		(99,825	)
Total shareholders' equity		36,907			35,077			33,189			30,662
Total liabilities and shareholders' equity		55,258			51,593			51,813			47,161