XML 12 R2.htm IDEA: XBRL DOCUMENT v3.5.0.2
Consolidated Balance Sheets (unaudited) - USD ($)
$ in Thousands
Jun. 30, 2016
Dec. 31, 2015
Current assets:    
Cash and cash equivalents $ 80,893 $ 50,714
Accounts receivable 2,775 2,354
Prepaid expenses 4,136 3,531
Inventory 441 1,093
Income tax receivable   6,743
Current assets before funds held for clients 88,245 64,435
Funds held for clients 1,034,314 696,703
Total current assets 1,122,559 761,138
Property and equipment, net 76,627 58,858
Deposits and other assets 936 1,286
Goodwill 51,889 51,889
Intangible assets, net 2,677 3,484
Deferred income tax assets, net 4,295  
Total assets 1,258,983 876,655
Current liabilities:    
Accounts payable 5,530 4,899
Income tax payable 5,371  
Accrued commissions and bonuses 3,052 8,687
Accrued payroll and vacation 6,538 2,898
Deferred revenue 4,389 3,726
Current portion of long-term debt 911 886
Accrued expenses and other current liabilities 12,392 9,735
Current liabilities before client funds obligation 38,183 30,831
Client funds obligation 1,034,314 696,703
Total current liabilities 1,072,497 727,534
Deferred income tax liabilities, net   641
Long-term deferred revenue 29,322 25,310
Net long-term debt, less current portion 28,349 24,856
Total long-term liabilities 57,671 50,807
Commitments and contingencies
Stockholders' equity:    
Common stock, $0.01 par value (100,000,000 shares authorized, 57,624,163 and 57,119,873 shares issued at June 30, 2016 and December 31, 2015, respectively; 57,539,034 and 57,119,873 shares outstanding at June 30, 2016 and December 31, 2015, respectively) 576 571
Additional paid in capital 76,112 71,135
Retained earnings 55,617 26,608
Treasury stock, at cost (85,129 and 0 shares at June 30, 2016 and December 31, 2015, respectively) (3,490)  
Total stockholders' equity 128,815 98,314
Total liabilities and stockholders' equity $ 1,258,983 $ 876,655