7Baggers
Quarterly
Annual
    Unit: USD2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31 2021-12-31 2021-09-30 2021-06-30 2021-03-31 2020-12-31 2020-09-30 2020-06-30 2020-03-31 2019-12-31 2019-09-30 2019-06-30 2019-03-31 2018-12-31 2018-09-30 2018-06-30 2018-03-31 2017-12-31 2017-09-30 2017-06-30 2017-03-31 2016-12-31 2016-09-30 2016-06-30 2016-03-31 2015-12-31 2015-09-30 2015-06-30 2015-03-31 2014-12-31 2014-09-30 2014-06-30 
      
    		                                              
      cash flows from operating activities:
    		                                              
      net income
    		47,991,000 48,606,000 91,483,000 37,465,000 49,573,000 48,819,000 85,314,000 38,116,000 34,517,000 37,254,000 57,616,000 15,600,000 30,352,000 15,146,000 34,846,000 9,853,000 30,932,000 11,883,000 36,834,000 9,642,000 12,460,000 4,950,000 40,132,000 5,467,000 13,906,000 10,241,000 28,026,000 5,704,000 9,852,000 -1,553,000 39,177,000 431,000 543,000  14,801,000 -1,671,000 -2,568,000 -5,412,000 6,161,000 -1,165,000 -3,435,000 -4,429,000 1,752,000 -6,420,000 -4,875,000 -6,704,000 
      adjustments to reconcile net income to net cash from operating activities:
    		                                              
      stock-based compensation expense
    		37,846,000 30,282,000 35,332,000 43,666,000 33,540,000 28,867,000 34,952,000 43,208,000 39,005,000 31,298,000 32,638,000 43,551,000 39,813,000 26,005,000 24,395,000 26,243,000 19,559,000 16,105,000 16,011,000 16,659,000 14,277,000 13,145,000 9,516,000 12,770,000 12,062,000 9,928,000 9,313,000 10,099,000 9,425,000 8,463,000 7,467,000 7,818,000 6,606,000  6,247,000 6,635,000 5,813,000          
      depreciation and amortization expense
    		27,453,000 26,452,000 25,972,000 25,660,000 21,552,000 20,647,000 20,278,000 18,380,000 17,121,000 16,385,000 15,387,000 14,827,000 14,267,000 13,799,000 13,036,000 12,061,000 11,322,000 10,902,000 10,999,000 10,836,000 10,235,000 10,081,000 9,571,000 9,328,000 8,933,000 9,351,000 8,412,000 8,569,000 8,232,000 9,562,000 7,202,000 6,765,000 6,673,000  5,582,000 4,835,000 4,268,000          
      deferred income tax expense
    		22,101,000 -1,528,000 -1,554,000 2,430,000 -2,556,000 9,292,000 3,318,000 9,834,000 5,391,000 12,232,000        -2,986,000    1,210,000    -450,000   -5,809,000 -3,267,000 -18,510,000 -130,000 37,000  25,000 24,000 78,000 37,000 -38,000 67,000 84,000      
      benefit from credit losses
    		332,000 507,000 258,000 396,000 221,000 852,000 250,000 282,000 181,000 381,000 262,000 336,000 266,000 73,000 135,000 65,000 38,000 103,000 115,000 42,000 56,000                          
      net accretion of discounts on available-for-sale securities
    		-405,000  -362,000 -615,000 -662,000  -1,005,000 -1,291,000 -1,392,000                                      
      other
    		355,000 94,000 374,000 273,000 304,000 2,149,000 759,000 -3,994,000 124,000 50,000 93,000 1,128,000 125,000 32,000 39,000 220,000 27,000 87,000 30,000                            
      changes in operating assets and liabilities:
    		                                              
      accounts receivable
    		-73,000 4,257,000 -3,670,000 -3,241,000 -903,000 1,727,000 -2,861,000 -2,251,000 -4,801,000 3,141,000 -3,171,000 -3,357,000 -6,020,000 2,049,000 -8,738,000 -743,000 -173,000 2,841,000 -3,208,000 -1,482,000 195,000 903,000 -1,582,000 -505,000 452,000 716,000 -978,000 -1,357,000 431,000 -216,000 -503,000 -246,000 -529,000  -97,000            
      deferred contract costs
    		-10,424,000 -20,363,000 -16,698,000 -12,780,000 -13,081,000 -19,530,000 -20,064,000 -15,758,000 -14,985,000 -17,852,000 -22,291,000 -21,310,000 -19,328,000 -24,058,000 -22,419,000 -15,672,000 -11,114,000 -17,229,000 -16,190,000 -13,022,000 -10,409,000 -17,115,000 -15,395,000 -12,447,000 -9,987,000 -9,633,000 -11,203,000 -6,987,000 -7,169,000                  
      prepaid expenses and other
    		-9,833,000 -10,014,000 22,461,000 -19,493,000 -773,000 -3,638,000 9,137,000 -9,659,000 -1,669,000 -6,025,000 1,415,000 2,000 614,000 -5,349,000 590,000 -201,000 -9,807,000 -1,473,000 857,000 -1,244,000 -2,144,000 -264,000 -705,000 862,000 -89,000 1,874,000 -2,120,000 1,488,000 -853,000 -463,000 -3,261,000 1,888,000 -305,000  -2,647,000            
      accounts payable
    		-10,530,000 9,173,000 2,441,000 -12,212,000 7,885,000 2,977,000 -1,685,000 -438,000 1,569,000 -1,564,000 402,000 1,413,000 -1,805,000 2,412,000 -1,262,000 -164,000 1,567,000 802,000 522,000 -541,000 1,611,000 -1,669,000 602,000 222,000 39,000 -671,000 449,000 562,000 -415,000 311,000 517,000 13,000 -101,000  -191,000            
      accrued expenses and other
    		-18,357,000 -511,000 29,964,000 -7,348,000 -3,645,000 -11,541,000 39,134,000 -1,294,000 -12,984,000 3,061,000 24,334,000 8,755,000 -17,734,000 15,760,000 25,677,000 1,276,000 -25,790,000 17,979,000 17,730,000 3,369,000 -18,781,000 14,600,000 865,000 11,484,000 -9,253,000                      
      net cash from operating activities
    		86,456,000 86,569,000 186,001,000 54,201,000 91,455,000 79,931,000 167,527,000 75,070,000 62,142,000 76,616,000 127,350,000 62,370,000 16,387,000 49,659,000 78,536,000 30,990,000 -4,132,000 39,090,000 66,088,000 21,239,000 -1,567,000 25,860,000 50,717,000 27,813,000 8,265,000 35,873,000 44,863,000 26,952,000 7,344,000 28,523,000 35,175,000 25,965,000 8,203,000 -43,273,020 27,945,000 13,507,000 1,883,000 3,926,000 18,253,000 7,836,000 2,978,000 904,000 9,352,000   -878,000 
      capex
    		-18,979,000 -22,288,000 -16,376,000 -17,861,000 -16,578,000 -22,552,000 -20,577,000 -17,978,000 -15,844,000 -27,419,000 -13,092,000 -13,003,000 -13,400,000 -10,944,000 -12,020,000 -16,115,000 -9,300,000 -8,236,000 -8,942,000 -10,948,000 -8,450,000 -8,502,000 -9,254,000 -9,790,000 -13,498,000 -6,364,000 -4,093,000 -10,340,000 -6,365,000 -18,671,000 -3,322,000 -12,535,000 -2,127,000 23,954,021 -8,130,000 0 1,781,000 -76,000 0 686,000 845,000 -491,000 -665,000   0 
      free cash flows
    		67,477,000 64,281,000 169,625,000 36,340,000 74,877,000 57,379,000 146,950,000 57,092,000 46,298,000 49,197,000 114,258,000 49,367,000 2,987,000 38,715,000 66,516,000 14,875,000 -13,432,000 30,854,000 57,146,000 10,291,000 -10,017,000 17,358,000 41,463,000 18,023,000 -5,233,000 29,509,000 40,770,000 16,612,000 979,000 9,852,000 31,853,000 13,430,000 6,076,000 -19,318,999 19,815,000 13,507,000 3,664,000 3,850,000 18,253,000 8,522,000 3,823,000 413,000 8,687,000   -878,000 
      cash flows from investing activities:
    		                                              
      purchases of available-for-sale securities
    		-30,456,000 -139,220,000 -55,655,000 -45,948,000 -20,174,000  -66,857,000 -72,248,000 -92,567,000  -261,343,000 -177,134,000 -118,926,000  -25,538,000 -54,151,000 -135,849,000           -41,250,000 -75,804,000                  
      proceeds from sales and maturities of available-for-sale securities
    		32,358,000 37,098,000 42,951,000 54,996,000 25,022,000 71,726,000 71,861,000 49,635,000 101,216,000 148,638,000 107,860,000 147,403,000 42,850,000 30,973,000 25,484,000 50,743,000 9,648,000 18,979,000 23,492,000 21,503,000 37,493,000 159,802,000 126,011,000 79,626,000 45,154,000 84,937,000 72,427,000 32,433,000 56,446,000                  
      capitalized internal-use software costs
    		-15,460,000 -16,839,000 -15,966,000 -14,387,000 -15,210,000 -16,225,000 -15,018,000 -15,290,000 -14,193,000 -14,278,000 -10,986,000 -9,787,000 -9,953,000 -8,230,000 -8,319,000 -8,807,000 -9,159,000 -6,930,000 -6,832,000 -6,948,000 -7,884,000 -6,502,000 -7,074,000 -5,425,000 -6,714,000 -5,436,000 -5,281,000 -4,424,000 -5,001,000 -4,196,000 -4,296,000 -3,395,000 -3,751,000 10,059,359 -3,794,000            
      purchases of property and equipment
    		-3,797,000 -5,449,000 -2,311,000 -2,985,000 -2,328,000 -6,327,000 -5,559,000 -2,688,000 -3,454,000 -13,141,000 -2,106,000 -3,216,000 -3,447,000 -2,714,000 -4,827,000 -7,308,000 -3,220,000 -1,306,000 -2,110,000 -4,000,000 -2,045,000 -2,000,000 -2,180,000 -4,365,000 -8,033,000 -1,659,000 -2,089,000 -5,104,000 -2,428,000 -12,302,000 -1,376,000 -5,305,000 -2,693,000 13,894,662 -3,878,000            
      other investing activities
    		-338,000 -2,595,000 3,254,000 -1,313,000 -638,000 -1,862,000 1,366,000 -177,000 -406,000 -1,137,000 4,000   0                                 
      net cash from investing activities
    		-17,693,000 -127,005,000 -27,577,000 -287,638,000 -13,328,000 -25,481,000 -14,223,000 -52,783,000 -9,404,000 78,590,000 -166,571,000 -42,705,000 -89,476,000 -198,395,000 -63,042,000 -20,176,000 -198,161,000 10,743,000 14,550,000 -4,437,000 27,564,000 134,586,000 -29,636,000 -120,493,000 -33,214,000 30,835,000 -4,605,000 -98,631,000 29,057,000 100,283,000 -15,441,000 -416,868,000 -7,332,000 -45,032,661 -85,542,000 -332,001,000 462,835,000    44,793,000      
      cash flows from financing activities:
    		                                              
      net change in client fund obligations
    		70,293,000 -727,779,000 -115,528,000 1,167,130,000 -621,746,000 -639,026,000 321,666,000 735,982,000 -93,566,000 -577,060,000 136,718,000 766,260,000 -1,688,339,000 -336,791,000 2,404,504,000 -1,265,457,000 1,425,782,000 -292,237,000 -152,372,000 825,311,000 51,671,000 -401,872,000 -116,118,000 690,767,000 -239,942,000 -327,840,000 463,536,000 90,617,000 -57,458,000 -121,908,000 132,000 403,713,000 -470,000 68,983,837             
      borrowings under credit facility
    		 0 0 0 325,000,000         0                                 
      repayment of credit facility
    		-81,250,000 -81,250,000            0    0                             
      repurchases of common shares
    		-200,000,000 -58,558,000 -82,685,000                       0 0 -312,000 -34,679,000                  
      taxes paid related to net share settlement of equity awards
    		-18,723,000 -10,913,000 -12,116,000 -15,469,000 -21,536,000 -6,492,000 -10,667,000 -6,565,000 -28,825,000 -4,138,000 -4,805,000 -5,298,000 -74,071,000 -1,252,000 -1,400,000 -6,300,000 -60,809,000 -12,363,000 -7,079,000 -11,347,000 -33,402,000 -5,807,000 -7,182,000 -1,205,000 -24,749,000 -2,458,000 -2,871,000 -998,000 -17,880,000 -1,494,000 -1,363,000 -1,227,000 -6,470,000 6,203,658 -1,080,000            
      other financing activities
    		-12,000 -8,000 -380,000 -9,000 -11,000 -37,000 -13,391,000                                        
      net cash from financing activities
    		-229,692,000 -869,387,000 -291,959,000 1,153,818,000 -318,293,000 -785,946,000 297,608,000 752,318,000 -122,402,000 -572,744,000 131,904,000 769,403,000 -1,763,265,000 -331,179,000 2,403,081,000 -1,264,573,000 1,364,964,000 -298,494,000 -259,344,000 820,056,000 18,260,000 -302,765,000 -123,300,000 693,517,000 -265,360,000 -328,140,000 460,665,000 92,131,000 -109,932,000 -121,143,000 -1,231,000 404,531,000 -6,940,000 73,368,653 76,790,000   -183,570,000 539,482,000   -139,916,000 -128,597,000 444,035,000 14,955,000 -124,087,000 
      net change in cash, cash equivalents and funds held for clients' cash and cash equivalents
    		-160,929,000 -909,823,000 -133,535,000 920,381,000 -240,166,000 -731,496,000 450,912,000 774,605,000 -69,664,000 -417,538,000 92,683,000 789,068,000 -1,836,354,000 -479,915,000 2,418,575,000 -1,253,759,000 1,162,671,000 -248,661,000 -178,706,000 836,858,000 44,257,000 -142,319,000 -102,219,000 600,837,000 -290,309,000 -261,432,000                     
      cash, cash equivalents and funds held for clients' cash and cash equivalents—beginning of period
    		2,482,526,000  0 0 2,845,669,000  0 0 2,421,312,000  0 0 3,793,453,000  0 0 1,945,881,000  0 0 1,492,133,000  0 0 1,426,143,000                      
      cash, cash equivalents and funds held for clients' cash and cash equivalents—end of period
    		2,321,597,000  -133,535,000 920,381,000 2,605,503,000  450,912,000 774,605,000 2,351,648,000  92,683,000 789,068,000 1,957,099,000  2,418,575,000 -1,253,759,000 3,108,552,000  -178,706,000 836,858,000 1,536,390,000  -102,219,000 600,837,000 1,135,834,000                      
      supplemental disclosure of non-cash investing and financing activities
    		                                              
      purchases of property and equipment and capitalized internal-use software, accrued but not paid
    		278,000  1,901,000 -489,000 960,000                                          
      supplemental disclosure of cash flow information
    		                                              
      cash paid for interest
    		2,325,000 3,210,000 4,369,000 5,056,000 123,000 122,000 125,000 123,000 124,000 122,000 125,000 95,000 62,000 54,000 131,000 63,000 63,000 50,000 236,000 273,000 311,000 323,000 62,000                       0 
      cash paid for income taxes
    		7,226,000 22,137,000 17,995,000 39,774,000 6,194,000 12,960,000   6,207,000    19,000                            16,000 134,000 2,000 24,000 2,000 -96,000 
      reconciliation of cash, cash equivalents and funds held for clients' cash and cash equivalents to the consolidated balance sheets
    		                                              
      cash and cash equivalents
    		165,192,000 -79,715,000 -4,579,000 -296,185,000 778,549,000 -90,884,000 125,791,000 61,873,000 305,031,000 55,075,000 113,639,000 54,569,000 65,484,000 43,291,000 12,361,000 17,673,000 66,431,000 26,834,000 -43,243,000 -2,818,000 221,514,000 136,526,000 38,425,000 -24,629,000 100,529,000 41,620,000                     
      funds held for clients' cash and cash equivalents
    		2,156,405,000 -830,108,000 -128,956,000 1,216,566,000 1,826,954,000 -640,612,000 325,121,000 712,732,000 2,046,617,000 -472,613,000 -20,956,000 734,499,000 1,891,615,000 -523,206,000 2,406,214,000 -1,271,432,000 3,042,121,000 -275,495,000 -135,463,000 839,676,000 1,314,876,000 -278,845,000 -140,644,000 625,466,000 1,035,305,000 -303,052,000                     
      total cash, cash equivalents and funds held for clients' cash and cash equivalents
    		2,321,597,000 -909,823,000 -133,535,000 920,381,000 2,605,503,000 -731,496,000 450,912,000 774,605,000 2,351,648,000 -417,538,000 92,683,000 789,068,000 1,957,099,000 -479,915,000 2,418,575,000 -1,253,759,000 3,108,552,000 -248,661,000 -178,706,000 836,858,000 1,536,390,000 -142,319,000 -102,219,000 600,837,000 1,135,834,000                      
      adjustments to reconcile net income to net cash from operating activities
    		                                              
      net amortization of premiums (accretion of discounts) on available-for-sale securities
    		         -1,810,000                                     
      acquisitions of businesses, net of cash acquired
    		     0 -16,000       0                                 
      proceeds from employee stock purchase plan
    		 9,121,000 0   9,609,000 0   8,466,000 0   6,887,000 0   6,114,000 0   4,940,000 0   3,158,000 0   2,259,000 0   -1,819,323 0   1,588,000 0   1,103,000 0    
      cash, cash equivalents and funds held for clients' cash and cash equivalents—beginning of year
    		                                              
      cash, cash equivalents and funds held for clients' cash and cash equivalents—end of year
    		                                              
      purchases of property and equipment and internal-use software, accrued but not paid
    		        1,803,000        3,079,000                              
      liabilities assumed for acquisitions
    		 0 0   0 -4,000   0 0 0 117,000 111,000                                 
      acquisitions of businesses, net of cash and funds held for clients acquired
    		  150,000                                            
      purchases of available-for-sale securities and other
    		                     0 -146,393,000 -190,329,000 -63,621,000 -40,311,000                     
      purchases of property and equipment, accrued but not paid
    		              1,126,000      1,479,000    1,249,000                      
      cash paid (refunds received) for income taxes
    		         786,000       13,000 86,000 -112,000 9,000 -119,000                          
      amortization of debt issuance costs
    		        65,000 65,000 64,000 63,000 94,000 49,000 46,000 46,000 44,000 44,000 44,000 46,000 37,000 41,000 40,000 40,000 33,000                      
      payment of debt issuance costs
    		        -11,000 -12,000 -9,000 -9,000 -855,000 -23,000 -23,000 -32,000 -9,000 -8,000 -39,000 -8,000 -9,000 -26,000 0 -6,000 -669,000                      
      proceeds from exercise of stock options
    		                 0        0 0 0 85,000         0 0 0 137,000 0 66,000 115,000 66,000  
      deferred income tax benefit
    		           2,559,000 -23,415,000  12,070,000 -2,125,000 -20,827,000   -3,672,000 -9,268,000   931,000 -7,431,000                      
      net accretion of discounts and amortization of premiums on available-for-sale securities
    		           -1,197,000 -842,000 39,000 121,000 131,000 90,000 32,000 60,000 122,000 133,000 -163,000 -621,000 -567,000 -485,000 -623,000 -714,000 -486,000 -407,000 -209,000 -93,000 -33,000 -108,000              
      refunds received for income taxes
    		              0                                
      acquisition of business, net of cash acquired
    		               -653,000 -59,581,000 0 0           0                 
      liabilities assumed for acquisition
    		               -291,000 2,165,000 0 0                            
      tenant improvement allowance
    		                         6,696,000 533,000   5,802,000 0 4,296,000 1,656,000              
      lease allowances used for tenant improvements
    		                         -6,696,000 -533,000   -4,668,000 -1,134,000 -4,486,000 -1,466,000              
      payment of contingent consideration
    		                                              
      build-out allowances received from landlords
    		                                              
      reconciliation of cash, cash equivalents and funds held for clients' cash and cash equivalents to the unaudited consolidated balance sheets
    		                                              
      loss on disposal of equipment
    		                    31,000 64,000 81,000 165,000 85,000 55,000 42,000 116,000 241,000 67,000 54,000 75,000 31,000  128,000 69,000 28,000 411,000 133,000 102,000 66,000 211,000 3,000 12,000 30,000  
      benefit from doubtful accounts
    		                     77,000 169,000   63,000 108,000 82,000 30,000 147,000 73,000 72,000 4,000  -13,000   69,000 15,000 50,000 25,000 1,000 18,000 29,000 42,000 -17,000 
      net realized losses on sales of available-for-sale securities
    		                             0 0                
      purchase of property and equipment and internal-use software, accrued but not paid
    		                         731,000 3,277,000 -812,000 1,064,000 -2,173,000 2,350,000 -3,835,000 4,317,000     -76,000         
      cash paid for income taxes, net of refunds
    		                       8,000 11,000  18,000 6,000 351,000  -43,000 7,000 53,000  15,000 10,000 16,000 -17,000 -2,000        
      repurchases of common shares, accrued but not paid
    		                            313,000                  
      accrued expenses
    		                         8,326,000 4,272,000 7,241,000 -6,214,000 9,879,000 3,052,000 5,014,000 -6,304,000  4,110,000   20,000 7,251,000 488,000 551,000 531,000 4,184,000 469,000 67,000  
      acquisition of business, net of cash and funds held for clients' cash and cash equivalents
    		                                              
      excess tax benefits from stock-based compensation
    		                                              
      total cash, cash equivalents and funds held for clients’ cash and cash equivalents
    		                                              
      net change in funds held for clients' cash and cash equivalents
    		                           -80,035,000 55,844,000 170,068,000 2,616,000                
      net change in cash and cash equivalents
    		                           20,452,000 -73,531,000 7,663,000 18,503,000 13,628,000 -6,069,000 -14,937,028 19,193,000   -3,211,000    -11,969,000 3,747,000   -10,096,000 
      cash and cash equivalents—beginning of period
    		                           0 137,193,000  0 0 103,468,000  0 0 86,496,000  0 0 81,258,000      
      cash and cash equivalents—end of period
    		                           20,452,000 63,662,000  18,503,000 13,628,000 97,399,000  19,193,000 4,259,000 77,998,000  10,683,000 333,000 78,691,000      
      purchases of available-for-sale securities from funds held for clients
    		                             -70,371,000 -31,016,000 -36,363,000 -58,844,000              
      proceeds from sales and maturities of available-for-sale securities from funds held for clients
    		                             21,752,000 28,111,000                
      cash and cash equivalents—beginning of year
    		                                         0 0 0 78,848,000  
      cash and cash equivalents—end of year
    		                                         -11,969,000 3,747,000 16,637,000 72,843,000  
      proceeds from sales of available-for-sale securities from funds held for clients
    		                                421,000              
      net change in funds held for clients’ cash and cash equivalents
    		                                59,001,000              
      payments for acquisitions
    		                                              
      net change in funds held for clients
    		                                 -68,983,837 -77,870,000 -321,523,000 468,674,000    48,607,000      
      proceeds from follow-on offering, net of issuance costs
    		                                              
      payments on initial public offering costs
    		                                              
      purchase of property and equipment, accrued but not paid
    		                                  -458,000     686,000 845,000 -491,000 -665,000 878,000 488,000  
      net change in client funds obligation
    		                                     -183,354,000 539,839,000   -140,397,000 -126,523,000 425,914,000 14,964,000 -124,462,000 
      unpaid follow-on offering costs included in accrued expenses
    		                                              
      prepaid expenses
    		                                    1,289,000          
      trade accounts payable
    		                                    85,000   520,000 133,000 -545,000 -338,000    
      purchase of property and equipment and capitalized internal-use software, accrued but not paid
    		                                    1,781,000          
      stock-based compensation
    		                                     4,351,000 4,720,000 4,780,000 3,712,000 2,497,000 3,535,000 3,854,000 3,283,000 3,215,000 
      depreciation and amortization
    		                                     3,998,000 3,720,000 3,436,000 2,719,000 2,364,000 2,085,000 2,229,000 1,931,000 1,792,000 
      principal payments on long-term debt
    		                                              
      proceeds from initial public offering, net of issuance costs
    		                                             -677,000 
      capital contribution
    		                                              
      unpaid initial offering costs
    		                                             -603,000 
      proceeds from follow-on offering, net of cash paid for issuance costs
    		                                          -349,000    
      build-out allowance received from landlords
    		                                              
      build-out allowance received from landlord
    		                                       -320,000 375,000     582,000 
      deferred income tax (benefit) expense
    		                                         32,000 20,000 19,000 20,000  
      payments for redemption of common shares
    		                                              
      capitalized internally developed software costs
    		                                              
      payments for acquisition
    		                                              
      deferred offering costs included in accounts payable
    		                                              
      adjustments to reconcile to net cash from operating activities:
    		                                              
      proceeds from issuance of redeemable convertible preferred series b shares
    		                                              
      adjustments to reconcile income to net cash from operating activities:
    		                                              
      increase in accounts receivable
    		                                              
      increase in prepaid expenses
    		                                              
      increase in trade accounts payable
    		                                              
      increase in accrued expenses
    		                                              
    The information provided in this report is taken from www.sec.gov and many other data providers. While we have conducted our best efforts to ensure that the parsed data is accurate, we cannot guarantee its accuracy. Please use caution and understand that any consequences of its use are your own responsibility.