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Condensed Consolidated Statements of Income (unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Sep. 30, 2015
Sep. 30, 2014
Revenues        
Recurring $ 54,233 $ 35,910 $ 156,404 $ 105,030
Implementation and other 1,107 688 3,131 1,859
Total revenues 55,340 36,598 159,535 106,889
Cost of revenues        
Operating expenses 7,964 5,798 22,569 17,847
Depreciation and amortization 945 638 2,642 1,876
Total cost of revenues 8,909 6,436 25,211 19,723
Administrative expenses        
Sales and marketing 23,774 14,856 61,744 44,237
Research and development 2,349 1,059 6,123 2,878
General and administrative 11,996 8,410 34,076 25,816
Depreciation and amortization 1,457 1,159 4,180 3,322
Total administrative expenses 39,576 25,484 106,123 76,253
Total operating expenses 48,485 31,920 131,334 95,976
Operating income 6,855 4,678 28,201 10,913
Interest expense (343) (338) (1,067) (3,079)
Loss on early repayment of debt       (4,044)
Other income, net 98 39 150 1,395
Income before income taxes 6,610 4,379 27,284 5,185
Provision for income taxes 2,763 1,689 11,496 2,028
Net income $ 3,847 $ 2,690 $ 15,788 $ 3,157
Net income per share, basic $ 0.07 $ 0.05 $ 0.28 $ 0.06
Net income per share, diluted $ 0.07 $ 0.05 $ 0.27 $ 0.06
Weighted average shares outstanding:        
Basic 57,050,684 51,056,462 56,287,979 49,040,344
Diluted 58,367,830 52,978,051 57,771,680 51,223,048