Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v3.4.0.3
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2016
Dec. 31, 2015
Current assets:    
Cash and cash equivalents $ 57,499 $ 30,911
Restricted cash 85,168 85,461
Accounts receivable, less allowance for doubtful accounts of $2,612 and $2,318 at March 31, 2016 and December 31, 2015, respectively 76,164 74,192
Prepaid expenses 10,362 8,294
Other current assets 25,828 23,085
Total current assets 255,021 221,943
Property, equipment, and software, net 94,188 82,198
Goodwill 255,398 220,097
Identified intangible assets, net 91,723 81,280
Deferred tax assets, net 20,918 12,051
Other assets 5,571 5,632
Total assets 722,819 623,201
Current liabilities:    
Accounts payable 27,499 17,448
Accrued expenses and other current liabilities 39,675 28,294
Current portion of deferred revenue 82,805 84,200
Current portion of term loan, net 3,125 0
Client deposits held in restricted accounts 85,119 85,405
Total current liabilities 238,223 215,347
Deferred revenue 6,992 6,979
Revolving line of credit 0 40,000
Term loan, net 121,188 0
Other long-term liabilities 33,451 34,423
Total liabilities $ 399,854 $ 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 March 31, 2016 and December 31, 2015, respectively $ 0 $ 0
Common stock, $0.001 par value: 125,000,000 shares authorized, 84,307,678 and 82,919,033 shares issued and 80,021,740 and 78,793,670 shares outstanding at March 31, 2016 and December 31, 2015, respectively 84 83
Additional paid-in capital 478,150 471,668
Treasury stock, at cost: 4,285,938 and 4,125,363 shares at March 31, 2016 and December 31, 2015, respectively (25,600) (24,338)
Accumulated deficit (129,140) (120,415)
Accumulated other comprehensive loss (529) (546)
Total stockholders’ equity 322,965 326,452
Total liabilities and stockholders’ equity $ 722,819 $ 623,201