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Consolidated Statements of Income - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Revenue:        
Net revenue $ 12,516,383 $ 13,103,376 $ 25,245,268 $ 26,787,889
Cost of revenue:        
Payment processing service fees 2,085,445 2,734,689 4,201,054 5,425,913
Processing and service costs 3,205,246 3,524,123 6,397,319 7,024,791
Total cost of revenue 5,290,691 6,258,812 10,598,373 12,450,704
Selling, general and administrative expenses 4,681,705 5,204,892 9,969,043 10,685,606
Restructuring charges 7,284 125,268 72,742 125,268
Total operating expenses 9,979,680 11,588,972 20,640,158 23,261,578
Income from operations 2,536,703 1,514,404 4,605,110 3,526,311
Other (expense) income:        
Interest expense (92,813) (83,021) (209,145) (97,697)
Interest income 585 398 1,108 822
Total other expense, net (92,228) (82,623) (208,037) (96,875)
Income from operations before provision for income taxes 2,444,475 1,431,781 4,397,073 3,429,436
Provision for income taxes (474,946) (149,058) (1,010,004) (386,408)
Net income $ 1,969,529 $ 1,282,723 $ 3,387,069 $ 3,043,028
Basic net income per share applicable to common stockholders ( in dollars per share) $ 0.04 $ 0.02 $ 0.06 $ 0.06
Diluted net income per share applicable to common stockholders (in dollars per share) $ 0.04 $ 0.02 $ 0.06 $ 0.05
Weighted-average common stock outstanding (basic) (in shares) 49,238,405 49,602,206 49,078,889 50,186,828
Weighted-average common stock outstanding (diluted) (in shares) 51,272,280 51,987,695 51,322,296 52,401,790