XML 39 R25.htm IDEA: XBRL DOCUMENT v3.6.0.2
Selected Quarterly Data (Unaudited)
 12 Months Ended
Dec. 31, 2016
Quarterly Financial Information Disclosure [Abstract]  
Selected Quarterly Data (Unaudited)
SELECTED QUARTERLY DATA (UNAUDITED)
The following unaudited quarterly consolidated statements of operations for each of the quarters in the years ended December 31, 2016 and 2015 have been prepared on a basis consistent with the Company’s audited annual financial statements and include, in the opinion of management, all normal recurring adjustments necessary for the fair statement of the financial information contained in these statements.
 
 
Quarter Ended
 
(in thousands, except per share data)
 
Mar. 31,
2015
 
June 30,
2015
 
Sept. 30,
2015
 
Dec. 31,
2015
 
Mar. 31,
2016
 
June 30,
2016
 
Sept. 30,
2016
 
Dec. 31,
2016
Revenue
$
73,955

 
$
82,563

 
$
87,271

 
$
95,862

 
$
99,324

 
$
107,013

 
$
107,758

 
$
109,029

Cost of revenue
24,662

 
27,893

 
27,246

 
30,063

 
31,650

 
35,955

 
33,369

 
34,778

Gross profit
49,293

 
54,670

 
60,025

 
65,799

 
67,674

 
71,058

 
74,389

 
74,251

Operating expenses:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Sales and marketing
45,958

 
51,446

 
53,255

 
56,367

 
56,701

 
57,835

 
53,690

 
57,405

Research and development
9,767

 
9,983

 
10,457

 
10,784

 
11,015

 
11,782

 
12,130

 
12,050

General and administrative
11,091

 
12,260

 
13,194

 
13,332

 
16,465

 
16,538

 
18,608

 
19,345

Amortization of certain acquired intangible assets
150

 
150

 
150

 
150

 
150

 
—

 
—

 
—

Total operating expenses
66,966

 
73,839

 
77,056

 
80,633

 
84,331

 
86,155

 
84,428

 
88,800

Loss from operations
(17,673
)
 
(19,169
)
 
(17,031
)
 
(14,834
)
 
(16,657
)
 
(15,097
)
 
(10,039
)
 
(14,549
)
Other income (expense):
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest income (expense) and other income (expense), net
(5,311
)
 
(3,713
)
 
(2,986
)
 
(3,618
)
 
(1,051
)
 
(2,350
)
 
(2,131
)
 
(3,756
)
Loss before income tax provision
(22,984
)
 
(22,882
)
 
(20,017
)
 
(18,452
)
 
(17,708
)
 
(17,447
)
 
(12,170
)
 
(18,305
)
Income tax provision
(278
)
 
(380
)
 
(132
)
 
(391
)
 
(535
)
 
(141
)
 
(218
)
 
(313
)
Net loss
$
(23,262
)
 
$
(23,262
)
 
$
(20,149
)
 
$
(18,843
)
 
$
(18,243
)
 
$
(17,588
)
 
$
(12,388
)
 
$
(18,618
)
Net loss per share, basic and diluted
$
(0.43
)
 
$
(0.43
)
 
$
(0.37
)
 
$
(0.35
)
 
$
(0.33
)
 
$
(0.32
)
 
$
(0.22
)
 
$
(0.33
)
Weighted average common shares outstanding, basic and diluted
53,876

 
53,987

 
54,260

 
54,551

 
54,827

 
55,278

 
55,964

 
56,300