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Intangible assets, net at December 31, 2015

Amortization

Intangible assets, net at March 31, 2016

Document and Entity Information Document - shares	3 Months Ended
Document and Entity Information Document - shares	Mar. 31, 2016	Apr. 22, 2016
Document Information [Line Items]
Entity Registrant Name	APPFOLIO INC
Entity Central Index Key	0001433195
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Document Type	10-Q
Document Period End Date	Mar. 31, 2016
Document Fiscal Year Focus	2016
Document Fiscal Period Focus	Q1
Amendment Flag	false
Class A common stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		10,790,470
Class B common stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		22,816,221

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Current assets
Cash and cash equivalents	$ 11,268	$ 12,063
Investment securities—current	9,947	10,235
Accounts receivable, net	2,642	2,048
Prepaid expenses and other current assets	4,440	3,160
Total current assets	28,297	27,506
Investment securities—noncurrent	30,910	34,417
Property and equipment, net	6,964	6,107
Capitalized software, net	11,239	10,022
Goodwill	6,737	6,737
Intangible assets, net	4,160	4,516
Other assets	1,273	1,176
Total assets	89,580	90,481
Current liabilities
Accounts payable	1,470	2,369
Accrued employee expenses	5,518	5,159
Accrued expenses	4,053	3,340
Deferred revenue	5,658	4,953
Other current liabilities	1,135	1,084
Total current liabilities	17,834	16,905
Other liabilities	1,746	879
Total liabilities	19,580	17,784
Commitments and contingencies
Stockholders’ equity:
Preferred stock, $0.0001 par value, 25,000 authorized and no shares issued and outstanding as of March 31, 2016 and December 31, 2015	0	0
Additional paid-in capital	142,134	141,528
Accumulated other comprehensive gain (loss)	147	(153)
Accumulated deficit	(72,285)	(68,682)
Total stockholders’ equity	70,000	72,697
Total liabilities and stockholders’ equity	89,580	90,481
Class A common stock, $0.0001 par value, 250,000 shares authorized as of March 31, 2016 and December 31, 2015; 10,707 and 9,005 shares issued and outstanding as of March 31, 2016 and December 31, 2015, respectively;
Stockholders’ equity:
Common stock	1	1
Class B common stock, $0.0001 par value, 50,000 shares authorized as of March 31, 2016 and December 31, 2015; 22,887 and 24,541 shares issued and outstanding as of March 31, 2016 and December 31, 2015, respectively;
Stockholders’ equity:
Common stock	$ 3	$ 3

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2016	Dec. 31, 2015
Preferred stock, par value (usd per share)	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	25,000,000	25,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Class A common stock
Common stock, par value (usd per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized	250,000,000	250,000,000
Common stock, shares issued	10,707,000	9,005,000
Common stock, shares outstanding	10,707,000	9,005,000
Class B common stock
Common stock, par value (usd per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized	50,000,000	50,000,000
Common stock, shares issued	22,887,000	24,541,000
Common stock, shares outstanding	22,887,000	24,541,000

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Income Statement [Abstract]
Revenue	$ 23,211	$ 15,848
Costs and operating expenses:
Cost of revenue (exclusive of depreciation and amortization)	10,530	7,065
Sales and marketing	7,551	5,709
Research and product development	3,043	2,009
General and administrative	3,549	3,392
Depreciation and amortization	2,117	1,183
Total costs and operating expenses	26,790	19,358
Loss from operations	(3,579)	(3,510)
Other expense, net	(24)	(2)
Interest income (expense), net	24	(32)
Loss before provision for income taxes	(3,579)	(3,544)
Provision for income taxes	24	74
Net loss	$ (3,603)	$ (3,618)
Net loss per share, basic and diluted (usd per share)	$ (0.11)	$ (0.41)
Weighted average common shares outstanding, basic and diluted (shares)	33,463	8,913

Condensed Consolidated Statements of Comprehensive Loss (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Statement of Comprehensive Income [Abstract]
Net loss	$ (3,603)	$ (3,618)
Other comprehensive gain:
Net changes in unrealized gains (losses) on investment securities	300	0
Comprehensive loss	$ (3,303)	$ (3,618)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

Condensed Consolidated Statements of Stockholders' Equity (Deficit) - 3 months ended Mar. 31, 2016 - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock Class A common stock	Common Stock Class B common stock	Additional Paid-in Capital	Accumulated Other Comprehensive Loss	Accumulated Deficit
Beginning balance at Dec. 31, 2015	$ 72,697	$ 1	$ 3	$ 141,528	$ (153)	$ (68,682)
Beginning balance (shares) at Dec. 31, 2015		9,005	24,541
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of stock options	80			80
Exercise of stock options (shares)		47	1
Stock-based compensation	455			455
Vesting of early exercised shares	71			71
Conversion of convertible preferred stock in connection with initial public offering	0		$ 0	0
Conversion of convertible preferred stock in connection with our public offering (shares)		1,655	(1,655)
Unrealized loss on investment securities	300				300
Net loss	(3,603)
Ending balance at Mar. 31, 2016	$ 70,000	$ 1	$ 3	$ 142,134	$ 147	$ (72,285)
Ending balance (shares) at Mar. 31, 2016		10,707	22,887

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Cash from operating activities
Net loss	$ (3,603)	$ (3,618)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	2,117	1,183
Purchased investment premium, net of amortization	145	0
Amortization of deferred financing costs	16	5
Loss on disposal of property and equipment	29	7
Stock-based compensation	463	133
Lease abandonment	91	0
Changes in operating assets and liabilities:
Accounts receivable	(594)	(665)
Prepaid expenses and other current assets	(1,281)	(526)
Other assets	(110)	(44)
Accounts payable	(653)	209
Accrued employee expenses	94	901
Accrued expenses	987	800
Deferred revenue	705	455
Other liabilities	858	(51)
Net cash used in operating activities	(736)	(1,211)
Cash from investing activities
Purchases of property and equipment	(1,891)	(721)
Additions to capitalized software	(2,179)	(1,231)
Purchases of investment securities	(9,385)	0
Sales and calls of investment securities	11,005	0
Maturities of investment securities	2,330	0
Purchases of intangible assets	0	(5)
Net cash used in investing activities	(120)	(1,957)
Cash from financing activities
Proceeds from stock option exercises	80	68
Proceeds from issuance of restricted stock	0	141
Principal payments under capital lease obligations	(7)	(6)
Proceeds from issuance of debt	29	10,000
Principal payments on debt	(41)	0
Payment of debt issuance costs	0	(413)
Net cash provided by financing activities	61	9,790
Net cash (decrease) increase in cash and cash equivalents	(795)	6,622
Cash and cash equivalents
Beginning of period	12,063	5,412
End of period	11,268	12,034
Noncash investing and financing activities
Purchases of property and equipment included in accounts payable and accrued expenses	700	353
Additions of capitalized software included in accrued employee expenses	554	282
Stock-based compensation capitalized for software development	51	31
Debt issuance and other financing costs accrued, not paid	0	137
Deferred IPO costs included in accrued expenses	$ 0	$ 1,396

Nature of Business	3 Months Ended
Nature of Business	Mar. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Business	Nature of Business Overview AppFolio, Inc. (“we” or “AppFolio”) provides industry-specific, cloud-based software solutions for small and medium-sized businesses (“SMBs”) in the property management and legal industries. Our platform is designed to be the system of record to automate essential business processes and the system of engagement to enhance business interactions between our customers and their clients and vendors. Our mobile-optimized software solutions have a user-friendly interface across multiple devices, enabling our customers to work at any time and from anywhere. Our property management software provides small and medium-sized property managers with an end-to-end solution to their business needs, enabling them to manage properties quickly and easily in a single, integrated environment. Our legal software provides solo practitioners and small law firms with a streamlined practice and case management solution, allowing them to manage their practices and case load within a flexible system. We also offer optional, but often mission-critical, Value+ services, such as our professionally designed websites, and electronic payment services which are seamlessly built into our core solutions.

Summary of Significant Accounting Policies

3 Months Ended

Mar. 31, 2016

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

Basis of Presentation and Significant Accounting Policies

The accompanying unaudited Condensed Consolidated Financial Statements were prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information. Certain information and disclosures normally included in consolidated financial statements prepared in accordance with GAAP have been condensed or omitted. Accordingly, these Condensed Consolidated Financial Statements should be read in conjunction with our consolidated financial statements and the related notes included in our Annual Report filed with the SEC on February 29, 2016. Our unaudited interim Condensed Consolidated Financial Statements have been prepared on a basis consistent with that used to prepare our audited annual consolidated financial statements and include, in the opinion of management, all adjustments, consisting of normal and recurring items, necessary for the fair statement of the Condensed Consolidated Financial Statements. The operating results for the three months ended March 31, 2016 are not necessarily indicative of the results expected for the full year ending December 31, 2016.

Changes in Accounting Policies

Except as described below, there have been no significant changes in our accounting policies from those disclosed in our annual consolidated financial statements and the related notes included in the 2015 Form 10-K.

Stock-Based Compensation

During the three months ended March 31, 2016, we granted performance based stock options or PSOs and performance based restricted stock units or PSUs. For additional information regarding the PSOs and PSUs granted refer to Note 7, Stock-Based Compensation.

Use of Estimates

The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the dates of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ materially from those estimates. On an ongoing basis, management evaluates its estimates based on historical data and experience, as well as various other factors that management believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying value of assets and liabilities that are not readily apparent from other sources.

Net Loss per Share

The following table presents a reconciliation of our weighted average number of Class A and Class B common shares used to compute net loss per share (in thousands):



	Three Months Ended March 31,
	2016	2015
Weighted average shares outstanding	33,571	9,080
Less: Weighted average unvested restricted shares subject to repurchase	108	167
Weighted average number of shares used to compute basic and diluted net loss per share	33,463	8,913

Because we reported net losses for all periods presented, all potentially dilutive common stock equivalents are anti-dilutive for those periods and have been excluded from the calculation of net loss per share.

The following table presents the number of anti-dilutive Class A and Class B common shares excluded from the calculation of diluted net loss per share as of March 31, 2016 and 2015 (in thousands):



	March 31,
	2016	2015
Options to purchase common stock	1,356	1,320
Conversion of convertible preferred stock	—	17,007
Unvested restricted stock awards	97	166
Unvested restricted stock units	370	—
Contingent restricted stock units(1)	87	—
Total shares excluded from net loss per share attributable to common stockholders	1,910	18,493

⁽¹⁾The reported shares are based on 58,000 shares with a fixed price restricted stock unit (“RSU”) commitment for which the number of shares has not been determined at the grant date and 29,000 shares with a performance condition that has not been met. The 58,000 shares included in the table above are based on the closing price of our stock at March 31, 2016 divided by the future fixed price commitment to issue shares in the future. For additional information regarding the RSUs granted refer to Note 7, Stock-Based Compensation.

The diluted net loss per common share was the same for our Class A and Class B common shares because they are entitled to the same liquidation and dividend rights.

Recent Accounting Pronouncements

Under the Jumpstart our Business Startups Act (the “JOBS Act”), we meet the definition of an emerging growth company. We have irrevocably elected to opt out of the extended transition period for complying with new or revised accounting standards pursuant to Section 107(b) of the JOBS Act.

In May 2014, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2014-09, Revenue from Contracts with Customers (“ASU 2014-09”), which requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. ASU 2014-09 will replace most existing revenue recognition guidance in GAAP when it becomes effective. ASU 2014-09 is effective on January 1, 2018. Early adoption is permitted as of January 1, 2017. The standard permits the use of either a retrospective or cumulative effect transition method. We have not determined which transition method we will adopt, nor have we determined the effect of this guidance on our financial condition, results of operations, cash flows or disclosures.

In February 2016, the FASB issued ASU No. 2016-02, "Leases (Topic 842)" ("ASU 2016-02"). Under ASU 2016-02, an entity will be required to recognize right-of-use assets and lease liabilities on its balance sheet and disclose key information about leasing arrangements. ASU 2016-02 offers specific accounting guidance for a lessee, a lessor and sale and leaseback transactions. Lessees and lessors are required to disclose qualitative and quantitative information about leasing arrangements to enable a user of the financial statements to assess the amount, timing and uncertainty of cash flows arising from leases. For public companies, ASU 2016-02 is effective for annual reporting periods beginning after December 15, 2018, including interim periods within that reporting period, and requires a modified retrospective adoption, with early adoption permitted. The Company will adopt this guidance beginning with its first quarter ending March 31, 2019. We have not determined the effect of this guidance on our financial condition, results of operations, cash flows or disclosures.

In March 2016, the FASB issued ASU 2016-08, "Revenue from Contracts with Customers (Topic 606), Principal versus Agent Considerations (Reporting of Revenue Gross versus Net) ("ASU 2016-08"), which provides additional guidance to improve the operability and understandability of the implementation guidance on principal versus agent considerations and provides additional illustrative examples to assist with the application of the guidance. The amendment does not change the core principles in Topic 606. ASU 2016-08 is effective on January 1, 2018 with the adoption of ASU 2014-09. Early adoption is permitted as of January 1, 2017. We have not determined the effect of this guidance on our financial condition, results of operations, cash flows or disclosures.

In March 2016, the FASB issued ASU No. 2016-09, "Compensation - Stock Compensation (Topic 781), Improvements to Employee Share-Based Payment Accounting ("ASU 2106-09"), which amends and simplifies the accounting for share-based payment awards in three areas; (1) income tax consequences, (2) classification of awards as either equity or liabilities, and (3) classification on the statement of cash flows. For public companies, ASU 2016-09 is effective for annual periods beginning after December 15, 2016, and interim periods within those annual periods. Early adoption is permitted for any interim or annual period. We have not determined the effect of this guidance on our financial condition, results of operations, cash flows or disclosures.

In April 2016, the FASB issued ASU No. 2016-10, "Revenue from Contracts with Customers (Topic 606), Identifying Performance Obligations and Licensing ("ASU 2016-10"), which provides additional guidance on identifying performance obligations and also to improve the operability and understandability of the licensing implementation guidance. The amendment does not change the core principles in Topic 606. ASU 2016-10 is effective on January 1, 2018 with the adoption of ASU 2014-09. Early adoption is permitted as of January 1, 2017. We have not determined the effect of this guidance on our financial condition, results of operations, cash flows or disclosures.

Investment Securities and Fair Value Measurements

3 Months Ended

Mar. 31, 2016

Fair Value Disclosures [Abstract]

Investment Securities and Fair Value Measurements

Investment Securities

Investment securities classified as available-for-sale consist of the following at March 31, 2016 and December 31, 2015 (in thousands):



	March 31, 2016
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value
Corporate bonds	$	29,427	$	123	$	(6	)	$	29,544
Agency securities	5,058		6		—			5,064
Certificates of deposit	6,225		24		—			6,249
Total available-for-sale investment securities	$	40,710	$	153	$	(6	)	$	40,857



	December 31, 2015
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value
Corporate bonds	$	30,568	$	—	$	(126	)	$	30,442
Agency securities	8,012		—		(12		)	8,000
Certificates of deposit	6,225		—		(15		)	6,210
Total available-for-sale investment securities	$	44,805	$	—	$	(153	)	$	44,652

We had certain investment securities in an unrealized loss position at March 31, 2016 and at December 31, 2015, and we have held these securities for less than twelve months. These unrealized loss positions are considered temporary and there were no impairments considered "other-than-temporary" as it is more likely than not we will hold the securities until maturity or a recovery of the cost basis.

At March 31, 2016 and December 31, 2015, the contractual maturities of our investments did not exceed 36 months. The fair values of available-for-sale investments, by remaining contractual maturity, are as follows (in thousands):



	March 31, 2016				December 31, 2015
	Amortized Cost		Estimated Fair Value		Amortized Cost		Estimated Fair Value
Due in 1 year or less	$	9,942	$	9,947	$	10,249	$	10,235
Due after 1 year through 3 years	30,768		30,910		34,556		34,417
Total available-for-sale investment securities	$	40,710	$	40,857	$	44,805	$	44,652

During the three months ended March 31, 2016, we had sales, calls and maturities of investment securities, as follows (in thousands).



	Three months ended March 31, 2016
	Gross Realized Gains		Gross Realized Losses		Gross Proceeds from Sales and Calls		Gross Proceeds from Maturities
Corporate bonds	$	—	$	—	$	3,005	$	—
Agency securities	—		—		3,000		1,500
Treasury bills	—		—		5,000		830
	$	—	$	—	$	11,005	$	2,330

Fair Value Measurements

The following table summarizes our financial assets and liabilities measured at fair value on a recurring basis as of March 31, 2016 and December 31, 2015 by level within the fair value hierarchy. Financial assets and financial liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement (in thousands):



	March 31, 2016
	Level 1		Level 2		Level 3		Total Fair Value
Cash equivalents:
Money market funds	$	6,025	$	—	$	—	$	6,025
Available-for-sale - investment securities:
Corporate bonds	—		29,544		—		29,544
Agency securities	—		5,064		—		5,064
Certificates of deposit	6,249		—		—		6,249
Total Assets	$	12,274	$	34,608	$	—	$	46,882



	December 31, 2015
	Level 1		Level 2		Level 3		Total Fair Value
Cash equivalents:
Money market funds	$	7,102	$	—	$	—	$	7,102
Available-for-sale - investment securities:
Corporate bonds	—		30,442		—		30,442
Agency securities	—		8,000		—		8,000
Certificates of deposit	6,210		—		—		6,210
Total Assets	$	13,312	$	38,442	$	—	$	51,754

The carrying amounts of cash equivalents, restricted cash, accounts receivable, accounts payable and accrued liabilities approximate fair value because of the short maturity of these items. The carrying value of our SecureDocs’ note receivable approximates its fair value based on a discounted cash flow analysis and is a level 3 measurement.

Certain assets, including goodwill and intangible assets, are also subject to measurement at fair value on a non-recurring basis if they are deemed to be impaired as a result of an impairment review. For the three months ended March 31, 2016 and 2015, no impairments were identified on those assets required to be measured at fair value on a non-recurring basis.

There were no changes to our valuation techniques used to measure asset and liability fair values on a recurring basis during the three months ended March 31, 2016. The valuation techniques for the items in the table, above are as follows:

Cash and Cash Equivalents

As of March 31, 2016 and December 31, 2015, cash and cash equivalents include cash invested in money market funds. Market prices are based on market prices for identical assets.

Available-for-Sale - Investment Securities

The fair value of our investment securities is based on pricing determined using inputs other than quoted prices that are observable either directly or indirectly such as yield curve, volatility factors, credit spreads, default rates, loss severity, current market and contractual prices for the underlying instruments or debt, broker and dealer quotes, as well as other relevant economic measures.

Internal-Use Software Development Costs

3 Months Ended

Mar. 31, 2016

Research and Development [Abstract]

Internal-Use Software Development Costs

Internal-use software development costs were as follows (in thousands):



	March 31, 2016			December 31, 2015
Internal use software development costs, gross	$	24,388		$	21,894
Less: Accumulated amortization	(13,149		)	(11,872		)
Internal use software development costs, net	$	11,239		$	10,022

Capitalized software development costs were $2.4 million and $1.5 million for the three months ended March 31, 2016 and 2015, respectively. Amortization expense with respect to software development costs totaled $1.3 million and $0.7 million for the three months ended March 31, 2016 and 2015, respectively.

- Definition

The entire disclosure for research, development, and computer software activities, including contracts and arrangements to be performed for others and with federal government. Includes costs incurred (1) in a planned search or critical investigation aimed at discovery of new knowledge with the hope that such knowledge will be useful in developing a new product or service, a new process or technique, or in bringing about a significant improvement to an existing product or process; or (2) to translate research findings or other knowledge into a plan or design for a new product or process or for a significant improvement to an existing product or process whether intended for sale or the entity's use, during the reporting period charged to research and development projects, including the costs of developing computer software up to the point in time of achieving technological feasibility and in-process research and development acquired in a business combination consummated during the period.

+ References + Details

Intangible Assets

3 Months Ended

Mar. 31, 2016

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets

Intangible assets consisted of the following as of March 31, 2016 and December 31, 2015 (in thousands, except years):



	March 31, 2016
	Gross Carrying Value		Accumulated Amortization			Net Carrying Value		Weighted Average Useful Life in Years
Customer relationships	$	790	$	(273	)	$	517	5.0
Technology	4,811		(2,469		)	2,342		6.0
Trademarks	930		(323		)	607		9.0
Partner relationships	680		(227		)	453		3.0
Non-compete agreements	40		(13		)	27		3.0
Domain names	274		(210		)	64		5.0
Patents	282		(132		)	150		5.0
	$	7,807	$	(3,647	)	$	4,160	5.9



	December 31, 2015
	Gross Carrying Value		Accumulated Amortization			Net Carrying Value		Weighted Average Useful Life in Years
Customer relationships	$	790	$	(234	)	$	556	5.0
Technology	4,811		(2,268		)	2,543		6.0
Trademarks	930		(293		)	637		9.0
Partner relationships	680		(170		)	510		3.0
Non-compete agreements	40		(10		)	30		3.0
Domain names	274		(199		)	75		5.0
Patents	286		(121		)	165		5.0
	$	7,811	$	(3,295	)	$	4,516	5.9

Amortization expense was $0.4 million and $0.2 million for the three months ended March 31, 2016 and 2015, respectively.

A summary of the activity within our intangible assets since December 31, 2015 is as follows (in thousands):

Commitment and Contingencies	3 Months Ended
Commitment and Contingencies	Mar. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Lease Obligations As of March 31, 2016, we had operating lease obligations of approximately $10.0 million through 2022. We recorded rent expense of $0.5 million and $0.3 million for the three months ended March 31, 2016 and 2015, respectively. During the three months ended March 31, 2016, we moved into a new location in Richardson, Texas, and permanently exited the prior location which expires on December 31, 2016. We are in the process of finding a sublessee for the prior location. Due to our remaining commitment, commitment under the terms of the prior lease agreement, and our abandonment of the facilities, we recorded a $0.1 million loss and a corresponding liability, which represents the amount of future payments that must be made under the terms of the original lease reduced by the estimated amount of rent that could be reasonably collected from a sub-lessee at current market rates. Line of Credit On October 9, 2015, we entered into Amendment Number One to our Credit Agreement with Wells Fargo, as administrative agent, and the lenders that are parties thereto (as amended, the “Credit Agreement”). Under the terms of the Credit Agreement, the lenders made available to us a $25.0 million revolving line of credit (the “Revolving Facility”). Borrowings under the Revolving Facility are subject to the satisfaction of customary conditions. The Revolving Facility matures on October 9, 2020. However, we can make payments on, and cancel in full, the Revolving Facility at any time without premium or penalty. As of March 31, 2016, there was no outstanding balance and at December 31, 2015 there was a balance of $12,000 under the Credit Agreement. Insurance We have a wholly owned subsidiary, Terra Mar Insurance Company, Inc. (“Terra Mar”), which was established to provide our customers with the option to purchase tenant liability insurance. If our customers choose to use our insurance services, they are issued an insurance policy underwritten by our third-party service provider. The policy has a limit of $100,000 per incident for each insured residence. We have entered into a reinsurance agreement with our third-party service provider and, as a result, we assume a 100% quota share of the tenant liability insurance provided to our customers through our third-party service provider. Included in cost of revenue we accrue for reported claims and an estimate of losses incurred but not reported by our property manager customers, as we bear the risk related to these claims. Our liability for reported claims and incurred but not reported claims as of March 31, 2016 and December 31, 2015 was $0.4 million and $0.5 million, respectively, and is included in other current liabilities on the Condensed Consolidated Balance Sheets. Included in other current assets as of March 31, 2016 and December 31, 2015 are $0.8 million and $1.0 million, respectively, of deposits held with a third party related to requirements to maintain collateral for our insurance services. Litigation From time to time, we may become subject to legal proceedings, claims and litigation arising in the ordinary course of business. We are not currently a party to any legal proceedings, nor are we aware of any pending or threatened litigation that would have a material adverse effect on our business, operating results, cash flows or financial condition should such litigation be resolved unfavorably. Indemnification In the ordinary course of business, we may provide indemnification of varying scope and terms to customers, investors, directors and officers with respect to certain matters, including, but not limited to, losses arising out of our breach of any applicable agreements, services to be provided by us, or intellectual property infringement claims made by third parties. These indemnification provisions may survive termination of the underlying agreement and the maximum potential amount of future payments we could be required to make under these indemnification provisions may not be subject to maximum loss clauses. The maximum potential amount of future payments we could be required to make under these indemnification provisions is indeterminable. We have never paid a material claim, nor have we been sued in connection with these indemnification arrangements. As of March 31, 2016 and December 31, 2015, we had not accrued a liability for these indemnification arrangements because we have determined that the likelihood of incurring a payment obligation, if any, in connection with these indemnification arrangements is not probable or reasonably possible and the amount or range of amounts of any such liability is not reasonably estimable.

Stock-Based Compensation

3 Months Ended

Mar. 31, 2016

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Stock-Based Compensation

Stock Options

A summary of our stock option activity for the three months ended March 31, 2016 is as follows (number of shares in thousands):



	Number of Shares		Weighted Average Exercise Price per Share		Weighted Average Remaining Contractual Life in Years
Options outstanding as of December 31, 2015	1,171		$	5.30	8.0
Options granted	250		11.70
Options exercised	(48	)	1.66
Options cancelled/forfeited	(17	)	7.92
Options outstanding as of March 31, 2016	1,356		$	6.58	8.4

During the three months ended March 31, 2016, we granted PSOs to purchase up to 250,000 shares of our Class A common stock. The PSOs have an exercise price of $11.70 per share. Vesting of the PSOs is based on our achievement of a pre-established free cash flow performance metric and continued employment throughout the performance period. We recognize expense for the PSOs based on the grant date fair value of the PSOs that we determine are probable of vesting. Adjustments to compensation expense are made each period based on changes in our estimate of the number of PSOs that are probable of vesting. The number of PSOs granted, as included in the above table, assumes achievement of the performance metric at the maximum level, which is 150% of the targeted performance metric. For performance at 100% of the targeted metric, approximately 67% of the PSOs would vest. For performance at 80% of the targeted metric, approximately 33% of the PSOs would vest. For performance below 80% of the targeted metric, no PSOs would vest, no compensation expense would be recognized and all previously recognized compensation expense for PSOs would be reversed.

Our stock-based compensation expense for stock options, including the PSOs for the three months ended March 31, 2016 and 2015 was $287,000 and $102,000 respectively.

The fair value of stock options granted is estimated on the date of grant using the Black-Scholes option-pricing model. The following table summarizes information relating to our stock options granted during three months ended March 31, 2016 and 2015:



	Three Months Ended March 31,
	2016			2015
Stock options granted (in thousands)	250			171
Weighted average exercise price per share	$	11.70		$	5.64
Weighted average grant-date fair value per share	$	4.15		$	7.33
Weighted average Black-Scholes model assumptions:
Risk-free interest rate	1.28		%	1.39		%
Expected term (in years)	5.4			6.4
Expected volatility	37		%	48		%
Expected dividend yield	—			—

As of March 31, 2016, the total estimated remaining stock-based compensation expense for unvested stock options, including the PSOs was $3.0 million, which is expected to be recognized over a weighted average period of 2.5 years.

Restricted Stock Awards

A summary of activity in connection with our restricted stock awards for the three months ended March 31, 2016 is as follows (number of shares in thousands):



	Number of Shares		Weighted- Average Grant Date Fair Value per Share
Unvested as of December 31, 2015	120		$	4.68
Granted	—		—
Vested	(23	)	2.87
Forfeited	—		—
Unvested as of March 31, 2016	97		$	5.11

We have the right to repurchase any unvested restricted stock awards. Restricted stock awards vest over a four-year period for employees and a one-year period for non-employee directors. We recognized stock-based compensation expense of $115,000 and $63,000 for the three months ended March 31, 2016 and 2015, respectively.

As of March 31, 2016, the total remaining stock-based compensation expense for unvested restricted stock awards with a repurchasing right was $0.3 million, which is expected to be recognized over a weighted average period of 1.6 years.

Restricted Stock Units

A summary of activity in connection with our restricted stock units for the three months ended March 31, 2016 is as follows (number of shares in thousands):



	Number of Shares		Weighted- Average Grant Date Fair Value per Share
Unvested as of December 31, 2015	17		$	15.45
Granted	354		12.20
Vested	—		—
Forfeited	(1	)	14.13
Unvested as of March 31, 2016	370		$	12.34

During the three months ended March 31, 2016, we granted 325,000 RSUs that vest annually over four years and 29,000 PSUs that vest based upon achievement of a pre-established free cash flow performance metric and continued employment throughout the performance period. We recognize expense for the PSUs based on the grant date fair value of the PSUs that we determine are probable of vesting. Adjustments to compensation expense are made each period based on changes in our estimate of the number of PSUs that are probable of vesting. The number of PSUs granted, as included in the above table, assumes achievement of the performance metric at 100% of the targeted performance metric. The actual number of shares to be issued at the end of the performance period will range from 0% to 150% of the initial target awards. For performance at 150% of the targeted metric, 150% of the PSUs would vest. For performance at 80% of the targeted metric, approximately 50% of the PSUs would vest. For performance below 80% of targeted metric, no PSUs would vest and no compensation expense would be recognized and all previously recognized compensation expense for PSUs would be reversed.

Our stock-based compensation expense for the RSUs and PSUs of $111,000 for the three months ended March 31, 2016. As of March 31, 2016, the total remaining estimated stock-based compensation expense for the RSUs and PSUs was $4.5 million, which is expected to be recognized over a weighted average period of 3.4 years.

Income Taxes	3 Months Ended
Income Taxes	Mar. 31, 2016
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Our effective tax rate differs from the U.S. Federal statutory rate of 34% primarily because our losses have been offset by a valuation allowance due to uncertainty as to the realization of those losses. For the three months ended March 31, 2016, we recorded income tax expense of $24,000 on pre-tax losses of $3.6 million for an effective tax rate of (0.67%). The income tax expense is based on our payments of state minimum taxes and the amortization of tax deductible goodwill that is not an available source of income to realize the deferred tax asset. For the three months ended March 31, 2015, we recorded income tax expense of $0.1 million on pre-tax losses of $3.5 million for an effective tax rate of (2.1%). The income tax expense was based on the statutory rate applied to actual year-to-date earnings of our subsidiary, Terra Mar. Terra Mar was not part of our U.S. consolidated group for tax purposes as of March 31, 2015. As such, Terra Mar’s March 31, 2015 earnings cannot be offset by the losses of our U.S. consolidated group for tax purposes.

Revenue and Other Information

3 Months Ended

Mar. 31, 2016

Segment Reporting [Abstract]

Revenue and Other Information

Our chief operating decision maker reviews separate revenue information for our core solutions, Value+ and other service offerings as a measure of growth in the number of our customers and growth in the adoption and utilization of our core solutions and Value+ services by new and existing customers. The following table presents our revenue categories for the three months ended March 31, 2016 and 2015 (in thousands):



	Three Months Ended March 31,
	2016		2015
Core solutions	$	9,763	$	7,134
Value+ services	12,255		7,703
Other	1,193		1,011
Total revenues	$	23,211	$	15,848

Value+ services presented in the table above include subscriptions for existing customers for website hosting services, contact center services and online vacancy advertising services based on the software platform from our April 2015 acquisition of RentLinx. Other services included above are for one-time services related to on-boarding our core solutions, website design services and online vacancy advertising services from legacy RentLinx customers.

Our revenue is generated primarily from U.S. customers. All of our property and equipment is located in the U.S.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 34
-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8981-108599

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e9038-108599

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 33
-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8971-108599

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8595-108599

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8380-108599

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8933-108599

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 26
-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8844-108599

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 35
-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8984-108599

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e9031-108599

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e9054-108599

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8538-108599

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 29
-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8864-108599

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8924-108599

Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8906-108599

+ Details

Subsequent Events	3 Months Ended
Subsequent Events	Mar. 31, 2016
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events Management has performed an analysis of the activities and transactions subsequent to March 31, 2016 to determine the need for any adjustments to and disclosures within the consolidated financial statements for the period ended March 31, 2016 and there are no subsequent events to report.

Summary of Significant Accounting Policies (Policies)	3 Months Ended
Summary of Significant Accounting Policies (Policies)	Mar. 31, 2016
Accounting Policies [Abstract]
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the dates of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ materially from those estimates. On an ongoing basis, management evaluates its estimates based on historical data and experience, as well as various other factors that management believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying value of assets and liabilities that are not readily apparent from other sources.
Recent Accounting Pronouncements	Recent Accounting Pronouncements Under the Jumpstart our Business Startups Act (the “JOBS Act”), we meet the definition of an emerging growth company. We have irrevocably elected to opt out of the extended transition period for complying with new or revised accounting standards pursuant to Section 107(b) of the JOBS Act. In May 2014, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2014-09, Revenue from Contracts with Customers (“ASU 2014-09”), which requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. ASU 2014-09 will replace most existing revenue recognition guidance in GAAP when it becomes effective. ASU 2014-09 is effective on January 1, 2018. Early adoption is permitted as of January 1, 2017. The standard permits the use of either a retrospective or cumulative effect transition method. We have not determined which transition method we will adopt, nor have we determined the effect of this guidance on our financial condition, results of operations, cash flows or disclosures. In February 2016, the FASB issued ASU No. 2016-02, "Leases (Topic 842)" ("ASU 2016-02"). Under ASU 2016-02, an entity will be required to recognize right-of-use assets and lease liabilities on its balance sheet and disclose key information about leasing arrangements. ASU 2016-02 offers specific accounting guidance for a lessee, a lessor and sale and leaseback transactions. Lessees and lessors are required to disclose qualitative and quantitative information about leasing arrangements to enable a user of the financial statements to assess the amount, timing and uncertainty of cash flows arising from leases. For public companies, ASU 2016-02 is effective for annual reporting periods beginning after December 15, 2018, including interim periods within that reporting period, and requires a modified retrospective adoption, with early adoption permitted. The Company will adopt this guidance beginning with its first quarter ending March 31, 2019. We have not determined the effect of this guidance on our financial condition, results of operations, cash flows or disclosures. In March 2016, the FASB issued ASU 2016-08, "Revenue from Contracts with Customers (Topic 606), Principal versus Agent Considerations (Reporting of Revenue Gross versus Net) ("ASU 2016-08"), which provides additional guidance to improve the operability and understandability of the implementation guidance on principal versus agent considerations and provides additional illustrative examples to assist with the application of the guidance. The amendment does not change the core principles in Topic 606. ASU 2016-08 is effective on January 1, 2018 with the adoption of ASU 2014-09. Early adoption is permitted as of January 1, 2017. We have not determined the effect of this guidance on our financial condition, results of operations, cash flows or disclosures. In March 2016, the FASB issued ASU No. 2016-09, "Compensation - Stock Compensation (Topic 781), Improvements to Employee Share-Based Payment Accounting ("ASU 2106-09"), which amends and simplifies the accounting for share-based payment awards in three areas; (1) income tax consequences, (2) classification of awards as either equity or liabilities, and (3) classification on the statement of cash flows. For public companies, ASU 2016-09 is effective for annual periods beginning after December 15, 2016, and interim periods within those annual periods. Early adoption is permitted for any interim or annual period. We have not determined the effect of this guidance on our financial condition, results of operations, cash flows or disclosures. In April 2016, the FASB issued ASU No. 2016-10, "Revenue from Contracts with Customers (Topic 606), Identifying Performance Obligations and Licensing ("ASU 2016-10"), which provides additional guidance on identifying performance obligations and also to improve the operability and understandability of the licensing implementation guidance. The amendment does not change the core principles in Topic 606. ASU 2016-10 is effective on January 1, 2018 with the adoption of ASU 2014-09. Early adoption is permitted as of January 1, 2017. We have not determined the effect of this guidance on our financial condition, results of operations, cash flows or disclosures.

Summary of Significant Accounting Policies (Tables)

3 Months Ended

Mar. 31, 2016

Accounting Policies [Abstract]

Schedule of Weighted Average Number of Shares

The following table presents a reconciliation of our weighted average number of Class A and Class B common shares used to compute net loss per share (in thousands):



	Three Months Ended March 31,
	2016	2015
Weighted average shares outstanding	33,571	9,080
Less: Weighted average unvested restricted shares subject to repurchase	108	167
Weighted average number of shares used to compute basic and diluted net loss per share	33,463	8,913

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share

The following table presents the number of anti-dilutive Class A and Class B common shares excluded from the calculation of diluted net loss per share as of March 31, 2016 and 2015 (in thousands):



	March 31,
	2016	2015
Options to purchase common stock	1,356	1,320
Conversion of convertible preferred stock	—	17,007
Unvested restricted stock awards	97	166
Unvested restricted stock units	370	—
Contingent restricted stock units(1)	87	—
Total shares excluded from net loss per share attributable to common stockholders	1,910	18,493

Investment Securities and Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2016

Fair Value Disclosures [Abstract]

Schedule of Available-for-sale Securities

Investment securities classified as available-for-sale consist of the following at March 31, 2016 and December 31, 2015 (in thousands):



	March 31, 2016
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value
Corporate bonds	$	29,427	$	123	$	(6	)	$	29,544
Agency securities	5,058		6		—			5,064
Certificates of deposit	6,225		24		—			6,249
Total available-for-sale investment securities	$	40,710	$	153	$	(6	)	$	40,857



	December 31, 2015
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value
Corporate bonds	$	30,568	$	—	$	(126	)	$	30,442
Agency securities	8,012		—		(12		)	8,000
Certificates of deposit	6,225		—		(15		)	6,210
Total available-for-sale investment securities	$	44,805	$	—	$	(153	)	$	44,652

Available-for-sale Investments, by Remaining Contract Maturity



	March 31, 2016				December 31, 2015
	Amortized Cost		Estimated Fair Value		Amortized Cost		Estimated Fair Value
Due in 1 year or less	$	9,942	$	9,947	$	10,249	$	10,235
Due after 1 year through 3 years	30,768		30,910		34,556		34,417
Total available-for-sale investment securities	$	40,710	$	40,857	$	44,805	$	44,652

Schedule of Sales, Calls, and Maturities

During the three months ended March 31, 2016, we had sales, calls and maturities of investment securities, as follows (in thousands).



	Three months ended March 31, 2016
	Gross Realized Gains		Gross Realized Losses		Gross Proceeds from Sales and Calls		Gross Proceeds from Maturities
Corporate bonds	$	—	$	—	$	3,005	$	—
Agency securities	—		—		3,000		1,500
Treasury bills	—		—		5,000		830
	$	—	$	—	$	11,005	$	2,330

Fair Value, Assets Measured on Recurring Basis

Financial assets and financial liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement (in thousands):



	March 31, 2016
	Level 1		Level 2		Level 3		Total Fair Value
Cash equivalents:
Money market funds	$	6,025	$	—	$	—	$	6,025
Available-for-sale - investment securities:
Corporate bonds	—		29,544		—		29,544
Agency securities	—		5,064		—		5,064
Certificates of deposit	6,249		—		—		6,249
Total Assets	$	12,274	$	34,608	$	—	$	46,882



	December 31, 2015
	Level 1		Level 2		Level 3		Total Fair Value
Cash equivalents:
Money market funds	$	7,102	$	—	$	—	$	7,102
Available-for-sale - investment securities:
Corporate bonds	—		30,442		—		30,442
Agency securities	—		8,000		—		8,000
Certificates of deposit	6,210		—		—		6,210
Total Assets	$	13,312	$	38,442	$	—	$	51,754

Internal-Use Software Development Costs (Tables)

3 Months Ended

Mar. 31, 2016

Research and Development [Abstract]

Schedule of Capitalized Computer Software

Internal-use software development costs were as follows (in thousands):



	March 31, 2016			December 31, 2015
Internal use software development costs, gross	$	24,388		$	21,894
Less: Accumulated amortization	(13,149		)	(11,872		)
Internal use software development costs, net	$	11,239		$	10,022

Intangible Assets (Tables)

3 Months Ended

Mar. 31, 2016

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Finite-Lived Intangible Assets

A summary of the activity within our intangible assets since December 31, 2015 is as follows (in thousands):

Intangible assets consisted of the following as of March 31, 2016 and December 31, 2015 (in thousands, except years):



	March 31, 2016
	Gross Carrying Value		Accumulated Amortization			Net Carrying Value		Weighted Average Useful Life in Years
Customer relationships	$	790	$	(273	)	$	517	5.0
Technology	4,811		(2,469		)	2,342		6.0
Trademarks	930		(323		)	607		9.0
Partner relationships	680		(227		)	453		3.0
Non-compete agreements	40		(13		)	27		3.0
Domain names	274		(210		)	64		5.0
Patents	282		(132		)	150		5.0
	$	7,807	$	(3,647	)	$	4,160	5.9



	December 31, 2015
	Gross Carrying Value		Accumulated Amortization			Net Carrying Value		Weighted Average Useful Life in Years
Customer relationships	$	790	$	(234	)	$	556	5.0
Technology	4,811		(2,268		)	2,543		6.0
Trademarks	930		(293		)	637		9.0
Partner relationships	680		(170		)	510		3.0
Non-compete agreements	40		(10		)	30		3.0
Domain names	274		(199		)	75		5.0
Patents	286		(121		)	165		5.0
	$	7,811	$	(3,295	)	$	4,516	5.9

Stock-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2016

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Summary of Stock Option Activity

A summary of our stock option activity for the three months ended March 31, 2016 is as follows (number of shares in thousands):



	Number of Shares		Weighted Average Exercise Price per Share		Weighted Average Remaining Contractual Life in Years
Options outstanding as of December 31, 2015	1,171		$	5.30	8.0
Options granted	250		11.70
Options exercised	(48	)	1.66
Options cancelled/forfeited	(17	)	7.92
Options outstanding as of March 31, 2016	1,356		$	6.58	8.4

Schedule of Valuation Assumptions, Stock Options

The following table summarizes information relating to our stock options granted during three months ended March 31, 2016 and 2015:



	Three Months Ended March 31,
	2016			2015
Stock options granted (in thousands)	250			171
Weighted average exercise price per share	$	11.70		$	5.64
Weighted average grant-date fair value per share	$	4.15		$	7.33
Weighted average Black-Scholes model assumptions:
Risk-free interest rate	1.28		%	1.39		%
Expected term (in years)	5.4			6.4
Expected volatility	37		%	48		%
Expected dividend yield	—			—

Schedule of Restricted Stock Activity

A summary of activity in connection with our restricted stock awards for the three months ended March 31, 2016 is as follows (number of shares in thousands):



	Number of Shares		Weighted- Average Grant Date Fair Value per Share
Unvested as of December 31, 2015	120		$	4.68
Granted	—		—
Vested	(23	)	2.87
Forfeited	—		—
Unvested as of March 31, 2016	97		$	5.11

Schedule of Restricted Stock Units Activity

A summary of activity in connection with our restricted stock units for the three months ended March 31, 2016 is as follows (number of shares in thousands):



	Number of Shares		Weighted- Average Grant Date Fair Value per Share
Unvested as of December 31, 2015	17		$	15.45
Granted	354		12.20
Vested	—		—
Forfeited	(1	)	14.13
Unvested as of March 31, 2016	370		$	12.34

Revenue and Other Information (Tables)

3 Months Ended

Mar. 31, 2016

Segment Reporting [Abstract]

Schedule of Product Information by Revenue Categories

The following table presents our revenue categories for the three months ended March 31, 2016 and 2015 (in thousands):



	Three Months Ended March 31,
	2016		2015
Core solutions	$	9,763	$	7,134
Value+ services	12,255		7,703
Other	1,193		1,011
Total revenues	$	23,211	$	15,848

Summary of Significant Accounting Policies - Net Loss per Share (Details) - shares	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Accounting Policies [Abstract]
Weighted average shares outstanding	33,571,000	9,080,000
Less: Weighted average unvested restricted shares subject to repurchase	108,000	167,000
Weighted average number of shares used to compute basic and diluted net loss per share	33,463,000	8,913,000
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Shares excluded from net loss per share attributable to common stockholders	1,910,000	18,493,000
Stock Option
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Shares excluded from net loss per share attributable to common stockholders	1,356,000	1,320,000
Convertible Preferred Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Shares excluded from net loss per share attributable to common stockholders	0	17,007,000
Restricted Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Shares excluded from net loss per share attributable to common stockholders	97,000	166,000
RSUs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Shares excluded from net loss per share attributable to common stockholders	370,000	0
Contingent RSUs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Shares excluded from net loss per share attributable to common stockholders	87,000	0
Fixed Price RSUs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Shares excluded from net loss per share attributable to common stockholders	58,000
PSUs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Shares excluded from net loss per share attributable to common stockholders	29,000

Investment Securities and Fair Value Measurements - Investment Securities (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Available-for-sale Securities, Amortized Cost Basis [Abstract]
Amortized Cost	$ 40,710	$ 44,805
Gross Unrealized Gains	153	0
Gross Unrealized Losses	(6)	(153)
Estimated Fair Value	$ 40,857	44,652
Maximum contractual maturity period	36 months
Amortized Cost
Due in 1 year or less	$ 9,942	10,249
Due after 1 year through 3 years	30,768	34,556
Total available-for-sale investment securities	40,710	44,805
Estimated Fair Value
Due in 1 year or less	9,947	10,235
Due after 1 year through 3 years	30,910	34,417
Total available-for-sale investment securities	40,857	44,652
Corporate bonds
Available-for-sale Securities, Amortized Cost Basis [Abstract]
Amortized Cost	29,427	30,568
Gross Unrealized Gains	123	0
Gross Unrealized Losses	(6)	(126)
Estimated Fair Value	29,544	30,442
Agency securities
Available-for-sale Securities, Amortized Cost Basis [Abstract]
Amortized Cost	5,058	8,012
Gross Unrealized Gains	6	0
Gross Unrealized Losses	0	(12)
Estimated Fair Value	5,064	8,000
Certificates of Deposit
Available-for-sale Securities, Amortized Cost Basis [Abstract]
Amortized Cost	6,225	6,225
Gross Unrealized Gains	24	0
Gross Unrealized Losses	0	(15)
Estimated Fair Value	$ 6,249	$ 6,210

Investment Securities and Fair Value Measurements - Sales, Calls and Maturities (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Schedule of Available-for-sale Securities [Line Items]
Gross Realized Gains			$ 0
Gross Realized Losses			0
Gross Proceeds from Sales and Calls	$ 11,005	$ 0	11,005
Gross Proceeds from Maturities	$ 2,330	$ 0	2,330
Corporate bonds
Schedule of Available-for-sale Securities [Line Items]
Gross Realized Gains			0
Gross Realized Losses			0
Gross Proceeds from Sales and Calls			3,005
Gross Proceeds from Maturities			0
Agency securities
Schedule of Available-for-sale Securities [Line Items]
Gross Realized Gains			0
Gross Realized Losses			0
Gross Proceeds from Sales and Calls			3,000
Gross Proceeds from Maturities			1,500
Treasury bills
Schedule of Available-for-sale Securities [Line Items]
Gross Realized Gains			0
Gross Realized Losses			0
Gross Proceeds from Sales and Calls			5,000
Gross Proceeds from Maturities			$ 830

Investment Securities and Fair Value Measurements - Fair Value Measurements (Details) - USD ($)	Mar. 31, 2016	Dec. 31, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	$ 40,857,000	$ 44,652,000
Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, Fair Value Disclosure	46,882,000	51,754,000
Fair Value, Measurements, Recurring \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, Fair Value Disclosure	12,274,000	13,312,000
Fair Value, Measurements, Recurring \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, Fair Value Disclosure	34,608,000	38,442,000
Fair Value, Measurements, Recurring \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, Fair Value Disclosure	0	0
Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	29,544,000	30,442,000
Corporate bonds \| Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	29,544,000	30,442,000
Corporate bonds \| Fair Value, Measurements, Recurring \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	0	0
Corporate bonds \| Fair Value, Measurements, Recurring \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	29,544,000	30,442,000
Corporate bonds \| Fair Value, Measurements, Recurring \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	0	0
Agency securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	5,064,000	8,000,000
Agency securities \| Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	5,064,000	8,000,000
Agency securities \| Fair Value, Measurements, Recurring \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	0	0
Agency securities \| Fair Value, Measurements, Recurring \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	5,064,000	8,000,000
Agency securities \| Fair Value, Measurements, Recurring \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	0	0
Certificates of Deposit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	6,249,000	6,210,000
Certificates of Deposit \| Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	6,249,000	6,210,000
Certificates of Deposit \| Fair Value, Measurements, Recurring \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	6,249,000	6,210,000
Certificates of Deposit \| Fair Value, Measurements, Recurring \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	0	0
Certificates of Deposit \| Fair Value, Measurements, Recurring \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	0	0
Money Market Accounts \| Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	6,025,000	7,102,000
Money Market Accounts \| Fair Value, Measurements, Recurring \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	6,025,000	7,102,000
Money Market Accounts \| Fair Value, Measurements, Recurring \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	0	0
Money Market Accounts \| Fair Value, Measurements, Recurring \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	$ 0	$ 0

Internal-Use Software Development Costs (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Research and Development [Abstract]
Internal use software development costs, gross	$ 24,388		$ 21,894
Less: Accumulated amortization	(13,149)		(11,872)
Internal use software development costs, net	11,239		$ 10,022
Capitalized software development costs during the period	2,400	$ 1,500
Amortization expense with respect to software development costs during the period	$ 1,300	$ 700

Intangible Assets - Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	$ 7,807		$ 7,811
Accumulated Amortization	(3,647)		(3,295)
Net Carrying Value	4,160		$ 4,516
Amortization expense	$ 352	$ 200
Weighted Average
Finite-Lived Intangible Assets [Line Items]
Weighted Average Useful Life in Years	5 years 9 months 70 days		5 years 9 months 70 days
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	$ 790		$ 790
Accumulated Amortization	(273)		(234)
Net Carrying Value	$ 517		$ 556
Customer relationships \| Weighted Average
Finite-Lived Intangible Assets [Line Items]
Weighted Average Useful Life in Years	5 years		5 years
Technology
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	$ 4,811		$ 4,811
Accumulated Amortization	(2,469)		(2,268)
Net Carrying Value	$ 2,342		$ 2,543
Technology \| Weighted Average
Finite-Lived Intangible Assets [Line Items]
Weighted Average Useful Life in Years	6 years		6 years
Trademarks
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	$ 930		$ 930
Accumulated Amortization	(323)		(293)
Net Carrying Value	$ 607		$ 637
Trademarks \| Weighted Average
Finite-Lived Intangible Assets [Line Items]
Weighted Average Useful Life in Years	9 years		9 years
Partner relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	$ 680		$ 680
Accumulated Amortization	(227)		(170)
Net Carrying Value	$ 453		$ 510
Partner relationships \| Weighted Average
Finite-Lived Intangible Assets [Line Items]
Weighted Average Useful Life in Years	3 years		3 years
Non-compete agreements
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	$ 40		$ 40
Accumulated Amortization	(13)		(10)
Net Carrying Value	$ 27		$ 30
Non-compete agreements \| Weighted Average
Finite-Lived Intangible Assets [Line Items]
Weighted Average Useful Life in Years	3 years		3 years
Domain names
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	$ 274		$ 274
Accumulated Amortization	(210)		(199)
Net Carrying Value	$ 64		$ 75
Domain names \| Weighted Average
Finite-Lived Intangible Assets [Line Items]
Weighted Average Useful Life in Years	5 years		5 years
Patents
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	$ 282		$ 286
Accumulated Amortization	(132)		(121)
Net Carrying Value	$ 150		$ 165
Patents \| Weighted Average
Finite-Lived Intangible Assets [Line Items]
Weighted Average Useful Life in Years	5 years		5 years

Intangible Assets - Intangible Asset Activity (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Finite-lived Intangible Assets [Roll Forward]
Intangible assets, net at December 31, 2015	$ 4,516
Disposals	(4)
Amortization	(352)	$ (200)
Intangible assets, net at March 31, 2016	$ 4,160

Commitment and Contingencies (Details) - USD ($)	3 Months Ended
Commitment and Contingencies (Details) - USD ($)	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015	Oct. 09, 2015
Loss Contingencies [Line Items]
Operating lease obligations	$ 10,000,000
Rent expense	500,000	$ 300,000
Per incident policy limit	$ 100,000
Quota share of tenant liability insurance provided, percent	100.00%
Other Current Liabilities
Loss Contingencies [Line Items]
Liability for reported claims and claims incurred but not reported	$ 400,000		$ 500,000
Prepaid Expenses and Other Current Assets
Loss Contingencies [Line Items]
Deposits held with a third party related to insurance services collateral	800,000		1,000,000
Credit Facility \| Revolving Facility
Loss Contingencies [Line Items]
Maximum borrowing capacity				$ 25,000,000.0
Credit Facility \| Term Loan
Loss Contingencies [Line Items]
Line of credit, amount outstanding	0		$ 12,000
Loss From Premature Lease Exit
Loss Contingencies [Line Items]
Lease loss liability	$ 100,000

Stock-Based Compensation - Stock Option Activity (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands			3 Months Ended
	Mar. 31, 2016	Dec. 31, 2014	Mar. 31, 2016	Mar. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Options granted (shares)			250	171
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract]
Options granted, weighted average exercise price (usd per share)			$ 11.70	$ 5.64
Vesting Tranche One
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract]
Percent of targeted awards that will vest	67.00%		67.00%
PSOs
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Options granted (shares)			250
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract]
Options granted, weighted average exercise price (usd per share)			$ 11.70
Percent of targeted performance metric	150.00%		150.00%
PSOs \| Vesting Tranche One
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract]
Percent of targeted performance metric	100.00%		100.00%
PSOs \| Vesting Tranche Two
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract]
Percent of targeted performance metric	80.00%		80.00%
Percent of targeted awards that will vest	33.00%		33.00%
PSOs \| Vesting Tranche Three
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract]
Percent of targeted performance metric	80.00%		80.00%
Percent of targeted awards that will vest	0.00%		0.00%
Stock-based compensation expense			$ 0
Stock Options and PSOs
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Options outstanding, beginning balance (shares)			1,171
Options granted (shares)			250
Options exercised (shares)			(48)
Options canceled/forfeited (shares)			(17)
Options outstanding, ending balance (shares)	1,356		1,356
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract]
Options outstanding, weighted average exercise price, beginning balance (usd per share)			$ 5.30
Options granted, weighted average exercise price (usd per share)			11.70
Options exercised, weighted average exercise price (usd per share)			1.66
Options canceled/forfeited, weighted average exercise price (usd per share)			7.92
Options outstanding, weighted average exercise price, ending balance (usd per share)	$ 6.58		$ 6.58
Weighted average remaining contractual life, in years	8 years 4 months 24 days	8 years
Stock-based compensation expense			$ 287	$ 102

Stock-Based Compensation - Valuation Assumptions (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options granted (shares)	250	171
Options granted, weighted average exercise price (usd per share)	$ 11.70	$ 5.64
Weighted average grant-date fair value per share (usd per share)	$ 4.15	$ 7.33
Stock Options and PSOs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options granted (shares)	250
Options granted, weighted average exercise price (usd per share)	$ 11.70
Weighted average Black-Scholes model assumptions:
Risk-free interest rate	1.28%	1.39%
Expected term	5 years 4 months 24 days	6 years 4 months 24 days
Expected volatility	37.00%	48.00%
Expected dividend yield	0.00%	0.00%
Remaining stock-based compensation expense for unvested options, not yet recognized	$ 3.0
Stock-based compensation expense, weighted average recognition period	2 years 6 months

Stock-Based Compensation - Restricted Stock Activity (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Restricted Stock
Number of Shares
Unvested, beginning balance (shares)	120
Granted (shares)	0
Vested (shares)	(23)
Forfeited (shares)	0
Unvested, ending balance (shares)	97
Weighted- Average Grant Date Fair Value per Share
Unvested, beginning balance (usd per share)	$ 4.68
Granted (usd per share)	0.00
Vested (usd per share)	2.87
Forfeited (usd per share)	0.00
Unvested, ending balance (usd per share)	$ 5.11
Stock-based compensation expense	$ 115	$ 63
Remaining stock-based compensation expense for unvested shares, not yet recognized	$ 300
Stock-based compensation expense, weighted average recognition period	1 year 7 months 6 days
Restricted Stock \| Employee
Weighted- Average Grant Date Fair Value per Share
Vesting period	4 years
Restricted Stock \| Non-Employee Director
Weighted- Average Grant Date Fair Value per Share
Vesting period	1 year
RSUs and PSUs
Number of Shares
Unvested, beginning balance (shares)	17
Granted (shares)	354
Vested (shares)	0
Forfeited (shares)	(1)
Unvested, ending balance (shares)	370
Weighted- Average Grant Date Fair Value per Share
Unvested, beginning balance (usd per share)	$ 15.45
Granted (usd per share)	12.20
Vested (usd per share)	0.00
Forfeited (usd per share)	14.13
Unvested, ending balance (usd per share)	$ 12.34
Stock-based compensation expense	$ 111
Remaining stock-based compensation expense for unvested shares, not yet recognized	$ 4,500
Stock-based compensation expense, weighted average recognition period	3 years 5 months

Stock-Based Compensation - Restricted Stock Units (Details)	3 Months Ended
	Mar. 31, 2016 USD ($)
Vesting Tranche One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percent of targeted awards that will vest	67.00%
RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fixed monetary value of shares granted	$ 325,000
Vesting period	4 years
PSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fixed monetary value of shares granted	$ 29,000
Percent of targeted performance metric	100.00%
PSUs \| Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percent of targeted performance metric	0.00%
PSUs \| Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percent of targeted performance metric	150.00%
PSUs \| Vesting Tranche One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percent of targeted performance metric	150.00%
Percent of targeted awards that will vest	150.00%
PSUs \| Vesting Tranche Two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percent of targeted performance metric	80.00%
Percent of targeted awards that will vest	50.00%
PSUs \| Vesting Tranche Three
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percent of targeted performance metric	80.00%
Percent of targeted awards that will vest	0.00%
Stock-based compensation expense	$ 0
RSUs and PSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	111,000
Remaining stock-based compensation expense for unvested shares, not yet recognized	$ 4,500,000
Stock-based compensation expense, weighted average recognition period	3 years 5 months

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended
Income Taxes (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Mar. 31, 2015
Income Tax Disclosure [Abstract]
U.S Federal statutory rate	34.00%
Income tax expense	$ 24	$ 74
Pre-tax income (Loss)	$ (3,579)	$ (3,510)
Effective tax rate	0.67%	2.10%

Revenue and Other Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Product Information [Line Items]
Revenue	$ 23,211	$ 15,848
Core solutions
Product Information [Line Items]
Revenue	9,763	7,134
Value plus services
Product Information [Line Items]
Revenue	12,255	7,703
Other
Product Information [Line Items]
Revenue	$ 1,193	$ 1,011