Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v3.5.0.2
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2016
Dec. 31, 2015
Current assets:    
Cash and cash equivalents $ 46,688 $ 30,911
Restricted cash 76,335 85,461
Accounts receivable, less allowance for doubtful accounts of $2,962 and $2,318 at June 30, 2016 and December 31, 2015, respectively 80,209 74,192
Prepaid expenses 11,166 8,294
Other current assets 22,414 23,085
Total current assets 236,812 221,943
Property, equipment, and software, net 114,757 82,198
Goodwill 261,768 220,097
Identified intangible assets, net 91,624 81,280
Deferred tax assets, net 18,863 12,051
Other assets 5,870 5,632
Total assets 729,694 623,201
Current liabilities:    
Accounts payable 26,879 17,448
Accrued expenses and other current liabilities 42,911 28,294
Current portion of deferred revenue 83,288 84,200
Current portion of term loan, net 3,906 0
Client deposits held in restricted accounts 76,281 85,405
Total current liabilities 233,265 215,347
Deferred revenue 6,922 6,979
Revolving line of credit 0 40,000
Term loan, net 119,678 0
Other long-term liabilities 35,382 34,423
Total liabilities 395,247 296,749
Commitments and contingencies (Note 8)
Stockholders’ equity:    
Preferred stock, $0.001 par value: 10,000,000 shares authorized and zero shares issued and outstanding at June 30, 2016 and December 31, 2015, respectively 0 0
Common stock, $0.001 par value: 125,000,000 shares authorized, 84,783,938 and 82,919,033 shares issued and 80,339,457 and 78,793,670 shares outstanding at June 30, 2016 and December 31, 2015, respectively 85 83
Additional paid-in capital 492,509 471,668
Treasury stock, at cost: 4,444,481 and 4,125,363 shares at June 30, 2016 and December 31, 2015, respectively (26,517) (24,338)
Accumulated deficit (130,831) (120,415)
Accumulated other comprehensive loss (799) (546)
Total stockholders’ equity 334,447 326,452
Total liabilities and stockholders’ equity $ 729,694 $ 623,201