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Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Cash flows from operating activities    
Net income $ 29,009 $ 11,941
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 6,118 4,420
Amortization of debt issuance costs 63 85
Net loss on disposition of property and equipment 3 15
Stock-based compensation expense 4,817 289
Deferred income taxes, net (4,936) (230)
Changes in operating assets and liabilities:    
Accounts receivable (421) 242
Prepaid expenses (605) (1,260)
Inventory 652 (131)
Deposits and other assets 350 (373)
Accounts payable 2,619 (970)
Income taxes, net 12,114 2,866
Accrued commissions and bonuses (5,635) (2,541)
Accrued payroll and vacation 3,640 3,382
Deferred revenue 4,675 3,698
Accrued expenses and other current liabilities 2,091 1,346
Net cash provided by operating activities 54,554 22,779
Cash flows from investing activities    
(Increase) decrease in funds held for clients (337,611) 117,750
Decrease in restricted cash   371
Purchases of property and equipment (24,340) (4,922)
Net cash (used in) provided by investing activities (361,951) 113,199
Cash flows from financing activities    
Proceeds from issuance of long-term debt 3,903  
Repurchases of common stock (3,490)  
Principal payments on long-term debt (448) (682)
Increase (decrease) in client funds obligation 337,611 (117,750)
Payment of debt issuance costs   (23)
Net cash provided by (used in) financing activities 337,576 (118,455)
Change in cash and cash equivalents 30,179 17,523
Cash and cash equivalents    
Beginning of period 50,714 25,144
End of period $ 80,893 $ 42,667