Paylocity Holding Corporation(NASDAQ:PCTY) 
Paylocity Holding Corporation provides cloud-based payroll and human capital management software solutions for medium-sized organizations in the United States. The company offers Payroll module that enables clients to automate key payroll processes and manage compliance; Core HR module, which provid...
Website: http://www.paylocity.com
Founded: 1997
Full Time Employees: 3,600
Sector: Technology
Industry: Software-Application
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At a glance:
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Quarterly
Annual
| Unit: USD | 2026-03-31 | 2025-12-31 | 2025-09-30 | 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 | 2014-03-31 |
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revenues: | |||||||||||||||||||||||||||||||||||||||||||||||||
recurring and other revenue | 469,930,000 | 386,980,000 | 378,858,000 | 369,886,000 | 421,096,000 | 347,714,000 | 333,105,000 | 324,739,000 | 366,840,000 | 298,416,000 | 291,685,000 | 282,026,000 | 314,170,000 | 256,434,000 | 245,406,000 | 226,867,000 | 244,962,000 | 195,041,000 | 180,824,000 | 166,530,000 | 184,927,000 | 145,393,000 | 134,875,000 | 129,264,000 | 167,095,000 | 127,980,000 | 121,873,000 | ||||||||||||||||||||||
interest income on funds held for clients | 32,356,000 | 29,154,000 | 29,314,000 | 30,851,000 | 33,452,000 | 29,266,000 | 29,851,000 | 32,548,000 | 34,441,000 | 27,945,000 | 25,901,000 | 26,427,000 | 25,687,000 | 16,574,000 | 7,874,000 | 2,080,000 | 1,008,000 | 996,000 | 873,000 | 921,000 | 1,126,000 | 936,000 | 919,000 | 1,325,000 | 4,551,000 | 4,394,000 | 4,847,000 | 5,717,000 | 6,197,000 | 4,465,000 | 3,502,000 | 2,974,000 | 2,719,000 | 1,783,000 | 1,617,000 | 1,142,000 | 1,041,000 | 731,000 | 717,000 | 742,000 | 803,000 | 615,000 | 528,000 | 547,000 | 601,000 | 390,000 | 363,000 | 360,000 | 491,000 |
total revenues | 502,286,000 | 416,134,000 | 408,172,000 | 400,737,000 | 454,548,000 | 376,980,000 | 362,956,000 | 357,287,000 | 401,281,000 | 326,361,000 | 317,586,000 | 308,453,000 | 339,857,000 | 273,008,000 | 253,280,000 | 228,947,000 | 245,970,000 | 196,037,000 | 181,697,000 | 167,451,000 | 186,053,000 | 146,329,000 | 135,794,000 | 130,589,000 | 171,646,000 | 132,374,000 | 126,720,000 | 120,373,000 | 139,552,000 | 107,204,000 | 100,504,000 | 96,616,000 | 113,407,000 | 86,004,000 | 81,500,000 | 76,061,000 | 90,273,000 | 68,654,000 | 65,022,000 | 59,839,000 | 70,570,000 | 55,184,000 | 45,108,000 | 40,004,000 | 47,272,000 | 34,313,000 | 31,109,000 | 28,647,000 | 33,766,000 |
yoy | 10.50% | 10.39% | 12.46% | 12.16% | 13.27% | 15.51% | 14.29% | 15.83% | 18.07% | 19.54% | 25.39% | 34.73% | 38.17% | 39.26% | 39.40% | 36.72% | 32.20% | 33.97% | 33.80% | 28.23% | 8.39% | 10.54% | 7.16% | 8.49% | 23.00% | 23.48% | 26.08% | 24.59% | 23.05% | 24.65% | 23.32% | 27.02% | 25.63% | 25.27% | 25.34% | 27.11% | 27.92% | 24.41% | 44.15% | 49.58% | 49.28% | 60.83% | 45.00% | 39.64% | 40.00% | ||||
qoq | 20.70% | 1.95% | 1.86% | -11.84% | 20.58% | 3.86% | 1.59% | -10.96% | 22.96% | 2.76% | 2.96% | -9.24% | 24.49% | 7.79% | 10.63% | -6.92% | 25.47% | 7.89% | 8.51% | -10.00% | 27.15% | 7.76% | 3.99% | -23.92% | 29.67% | 4.46% | 5.27% | -13.74% | 30.17% | 6.67% | 4.02% | -14.81% | 31.86% | 5.53% | 7.15% | -15.74% | 31.49% | 5.59% | 8.66% | -15.21% | 27.88% | 22.34% | 12.76% | -15.37% | 37.77% | 10.30% | 8.59% | -15.16% | |
cost of revenues | 139,098,000 | 133,996,000 | 128,380,000 | 128,865,000 | 129,853,000 | 124,545,000 | 114,960,000 | 116,880,000 | 115,983,000 | 107,399,000 | 101,467,000 | 96,706,000 | 95,714,000 | 90,076,000 | 84,543,000 | 77,394,000 | 75,538,000 | 70,821,000 | 63,249,000 | 59,050,000 | 57,326,000 | 53,542,000 | 49,380,000 | 45,875,000 | 48,081,000 | 45,424,000 | 42,630,000 | ||||||||||||||||||||||
gross profit | 363,188,000 | 282,138,000 | 279,792,000 | 271,872,000 | 324,695,000 | 252,435,000 | 247,996,000 | 240,407,000 | 285,298,000 | 218,962,000 | 216,119,000 | 211,747,000 | 244,143,000 | 182,932,000 | 168,737,000 | 151,553,000 | 170,432,000 | 125,216,000 | 118,448,000 | 108,401,000 | 128,727,000 | 92,787,000 | 86,414,000 | 84,714,000 | 123,565,000 | 86,950,000 | 84,090,000 | 80,279,000 | 99,807,000 | 69,134,000 | 64,562,000 | 57,870,000 | 74,755,000 | 49,164,000 | 46,541,000 | 42,898,000 | 58,191,000 | 38,271,000 | 36,663,000 | 33,258,000 | 43,361,000 | 31,084,000 | 24,913,000 | 21,888,000 | 27,990,000 | 16,267,000 | 15,657,000 | 13,543,000 | 18,841,000 |
yoy | 11.86% | 11.77% | 12.82% | 13.09% | 13.81% | 15.29% | 14.75% | 13.54% | 16.86% | 19.70% | 28.08% | 39.72% | 43.25% | 46.09% | 42.46% | 39.81% | 32.40% | 34.95% | 37.07% | 27.96% | 4.18% | 6.71% | 2.76% | 5.52% | 23.80% | 25.77% | 30.25% | 38.72% | 33.51% | 40.62% | 38.72% | 34.90% | 28.46% | 28.46% | 26.94% | 28.99% | 34.20% | 23.12% | 47.16% | 51.95% | 54.92% | 91.09% | 59.12% | 61.62% | 48.56% | ||||
qoq | 28.73% | 0.84% | 2.91% | -16.27% | 28.63% | 1.79% | 3.16% | -15.73% | 30.30% | 1.32% | 2.06% | -13.27% | 33.46% | 8.41% | 11.34% | -11.08% | 36.11% | 5.71% | 9.27% | -15.79% | 38.73% | 7.37% | 2.01% | -31.44% | 42.11% | 3.40% | 4.75% | -19.57% | 44.37% | 7.08% | 11.56% | -22.59% | 52.05% | 5.64% | 8.49% | -26.28% | 52.05% | 4.39% | 10.24% | -23.30% | 39.50% | 24.77% | 13.82% | -21.80% | 72.07% | 3.90% | 15.61% | -28.12% | |
gross margin % | 72.31% | 67.80% | 68.55% | 67.84% | 71.43% | 66.96% | 68.33% | 67.29% | 71.10% | 67.09% | 68.05% | 68.65% | 71.84% | 67.01% | 66.62% | 66.20% | 69.29% | 63.87% | 65.19% | 64.74% | 69.19% | 63.41% | 63.64% | 64.87% | 71.99% | 65.69% | 66.36% | 66.69% | 71.52% | 64.49% | 64.24% | 59.90% | 65.92% | 57.16% | 57.11% | 56.40% | 64.46% | 55.74% | 56.39% | 55.58% | 61.44% | 56.33% | 55.23% | 54.71% | 59.21% | 47.41% | 50.33% | 47.28% | 55.80% |
operating expenses: | |||||||||||||||||||||||||||||||||||||||||||||||||
sales and marketing | 95,732,000 | 98,078,000 | 96,368,000 | 100,878,000 | 91,774,000 | 93,133,000 | 88,431,000 | 88,014,000 | 86,760,000 | 79,777,000 | 80,403,000 | 75,895,000 | 74,064,000 | 75,694,000 | 71,063,000 | 59,599,000 | 52,752,000 | 52,219,000 | 49,885,000 | 46,304,000 | 40,055,000 | 37,775,000 | 37,674,000 | 33,083,000 | 37,801,000 | 37,293,000 | 36,957,000 | 31,912,000 | 27,699,000 | 26,570,000 | 26,418,000 | 26,702,000 | 26,004,000 | 21,598,000 | 21,180,000 | 20,518,000 | 21,242,000 | 17,735,000 | 18,011,000 | 17,361,000 | 17,681,000 | 14,340,000 | 12,450,000 | 11,883,000 | 12,673,000 | 9,401,000 | 9,078,000 | 8,986,000 | 8,678,000 |
research and development | 52,515,000 | 57,739,000 | 55,607,000 | 51,040,000 | 51,396,000 | 56,155,000 | 47,260,000 | 44,203,000 | 43,386,000 | 46,139,000 | 44,605,000 | 40,549,000 | 42,323,000 | 41,029,000 | 40,093,000 | 28,884,000 | 25,670,000 | 25,278,000 | 23,076,000 | 20,264,000 | 18,458,000 | 19,338,000 | 18,647,000 | 17,350,000 | 15,612,000 | 15,410,000 | 14,394,000 | 13,443,000 | 12,688,000 | 12,798,000 | 11,400,000 | 10,418,000 | 9,058,000 | 9,274,000 | 8,895,000 | 7,606,000 | 6,969,000 | 7,222,000 | 7,301,000 | 7,749,000 | 6,759,000 | 6,799,000 | 5,429,000 | 5,513,000 | 5,053,000 | 5,271,000 | 4,027,000 | 3,609,000 | 2,443,000 |
general and administrative | 57,962,000 | 55,940,000 | 53,606,000 | 53,727,000 | 54,495,000 | 56,524,000 | 48,161,000 | 45,281,000 | 48,863,000 | 43,340,000 | 49,922,000 | 45,951,000 | 47,379,000 | 48,001,000 | 50,492,000 | 44,244,000 | 44,632,000 | 39,581,000 | 35,235,000 | 32,733,000 | 31,071,000 | 29,323,000 | 26,644,000 | 27,965,000 | 22,411,000 | 28,133,000 | 26,739,000 | 25,715,000 | 23,208,000 | 22,739,000 | 22,968,000 | 25,914,000 | 19,228,000 | 18,159,000 | 15,951,000 | 18,208,000 | 15,100,000 | 14,957,000 | 13,858,000 | 13,188,000 | 12,720,000 | 11,239,000 | 10,451,000 | 8,756,000 | 8,559,000 | 8,061,000 | 7,448,000 | 7,254,000 | 5,587,000 |
total operating expenses | 206,209,000 | 211,757,000 | 205,581,000 | 205,645,000 | 197,665,000 | 205,812,000 | 183,852,000 | 177,498,000 | 179,009,000 | 169,256,000 | 174,930,000 | 162,395,000 | 163,766,000 | 164,724,000 | 161,648,000 | 132,727,000 | 123,054,000 | 117,078,000 | 108,196,000 | 99,301,000 | 89,584,000 | 86,436,000 | 82,965,000 | 78,398,000 | 75,824,000 | 80,836,000 | 78,090,000 | 71,070,000 | 63,595,000 | 62,107,000 | 60,786,000 | 63,034,000 | 54,290,000 | 49,031,000 | 46,026,000 | 46,332,000 | 43,311,000 | 39,914,000 | 39,170,000 | 38,298,000 | 37,160,000 | 32,378,000 | 28,330,000 | 26,152,000 | 26,285,000 | 22,733,000 | 20,553,000 | 19,849,000 | 16,708,000 |
operating income | 156,979,000 | 70,381,000 | 74,211,000 | 66,227,000 | 127,030,000 | 46,623,000 | 64,144,000 | 62,909,000 | 106,289,000 | 49,706,000 | 41,189,000 | 49,352,000 | 80,377,000 | 18,208,000 | 7,089,000 | 18,826,000 | 47,378,000 | 8,138,000 | 10,252,000 | 9,100,000 | 39,143,000 | 6,351,000 | 3,449,000 | 6,316,000 | 47,741,000 | 6,114,000 | 6,000,000 | 9,209,000 | 36,212,000 | 7,027,000 | 3,776,000 | -5,164,000 | 20,465,000 | 133,000 | 515,000 | -3,434,000 | 14,880,000 | -1,643,000 | -5,040,000 | 6,201,000 | 1,705,000 | 2,133,000 | |||||||
yoy | 23.58% | 50.96% | 15.69% | 5.27% | 19.51% | -6.20% | 55.73% | 27.47% | 32.24% | 172.99% | 481.03% | 162.15% | 69.65% | 123.74% | -30.85% | 106.88% | 21.04% | 28.14% | 197.25% | 44.08% | -18.01% | 3.88% | -42.52% | -31.41% | 31.84% | -12.99% | 58.90% | -278.33% | 76.95% | 5183.46% | 633.20% | 50.38% | 37.53% | -108.09% | -31.87% | 139.96% | 263.70% | -20.07% | |||||||||||
qoq | 123.04% | -5.16% | 12.06% | -47.87% | 172.46% | -27.32% | 1.96% | -40.81% | 113.84% | 20.68% | -16.54% | -38.60% | 341.44% | 156.85% | -62.34% | -60.26% | 482.18% | -20.62% | 12.66% | -76.75% | 516.33% | 84.14% | -45.39% | -86.77% | 680.85% | 1.90% | -34.85% | -74.57% | 415.33% | 86.10% | -173.12% | -125.23% | 15287.22% | -74.17% | -115.00% | -123.08% | -1005.66% | -181.28% | |||||||||||
operating margin % | 31.25% | 16.91% | 18.18% | 16.53% | 27.95% | 12.37% | 17.67% | 17.61% | 26.49% | 15.23% | 12.97% | 16.00% | 23.65% | 6.67% | 2.80% | 8.22% | 19.26% | 4.15% | 5.64% | 5.43% | 21.04% | 4.34% | 2.54% | 4.84% | 27.81% | 4.62% | 4.73% | 7.65% | 25.95% | 6.55% | 3.76% | -5.34% | 18.05% | 0.15% | 0.63% | -4.51% | 16.48% | -2.39% | 0% | -8.42% | 8.79% | 0% | 0% | 0% | 3.61% | 0% | 0% | 0% | 6.32% |
other income | 59,000 | -204,000 | 702,000 | 572,000 | -468,000 | 193,000 | 4,742,000 | 5,573,000 | 4,324,000 | 3,800,000 | 3,225,000 | 2,617,000 | 1,139,000 | -96,000 | -207,000 | -379,000 | -257,000 | -247,000 | 435,000 | 285,000 | 474,000 | 667,000 | 540,000 | 346,000 | 269,000 | 337,000 | 215,000 | 141,000 | 109,000 | -47,000 | 4,000 | 39,000 | -338,000 | 214,000 | 83,000 | -126,000 | 51,000 | 80,000 | 49,000 | 54,000 | 59,000 | ||||||||
income before income taxes | 157,038,000 | 70,177,000 | 74,913,000 | 66,799,000 | 126,562,000 | 46,816,000 | 68,886,000 | 68,482,000 | 110,613,000 | 53,506,000 | 44,414,000 | 51,969,000 | 81,516,000 | 18,203,000 | 6,926,000 | 18,629,000 | 47,067,000 | 7,766,000 | 10,135,000 | 9,004,000 | 38,936,000 | 5,972,000 | 3,192,000 | 6,069,000 | 48,176,000 | 6,399,000 | 6,474,000 | 9,876,000 | 36,752,000 | 7,373,000 | 4,045,000 | -4,827,000 | 20,680,000 | 274,000 | 624,000 | -3,357,000 | 14,833,000 | -1,639,000 | -5,378,000 | 6,118,000 | 1,756,000 | 2,192,000 | |||||||
income tax expense | 45,788,000 | 19,980,000 | 26,922,000 | 18,193,000 | 35,079,000 | 9,351,000 | 19,313,000 | 19,663,000 | 25,299,000 | 15,390,000 | 9,897,000 | 14,715,000 | 23,900,000 | 2,603,000 | 3,483,000 | 12,221,000 | -2,879,000 | 2,102,000 | -3,670,000 | 1,119,000 | 8,044,000 | 932,000 | -365,000 | 8,726,000 | 1,669,000 | -5,807,000 | -3,274,000 | -18,497,000 | -157,000 | 81,000 | 32,000 | 100,000 | 85,000 | 101,000 | 34,000 | 28,000 | |||||||||||||
net income | 111,250,000 | 50,197,000 | 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 | -3,844,000 | 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 | 1,150,000 |
yoy | 21.61% | 33.98% | -3.19% | -0.44% | 7.23% | -1.71% | 43.62% | 31.04% | 48.07% | 144.33% | 13.72% | 145.97% | 65.34% | 58.33% | -1.88% | 27.46% | -5.40% | 2.19% | 148.25% | 140.06% | -8.22% | 76.37% | -10.40% | -51.66% | 43.20% | -4.15% | 41.15% | -759.43% | -28.46% | 1223.43% | 1714.36% | -59.60% | 164.69% | -125.79% | -121.14% | -28.97% | 140.24% | 43.43% | -25.24% | 22.19% | 251.66% | -81.85% | -29.54% | -33.93% | 52.35% | ||||
qoq | 121.63% | 4.60% | -1.27% | -46.87% | 144.18% | -24.42% | 1.54% | -42.78% | 123.83% | 10.43% | -7.35% | -35.34% | 269.33% | -48.60% | 100.40% | -56.53% | 253.66% | -68.15% | 160.30% | -67.74% | 282.02% | -22.62% | 151.72% | -87.67% | 634.08% | -60.69% | 35.79% | -63.46% | 391.34% | -42.10% | -734.39% | -103.96% | 8989.79% | -20.63% | -114.13% | -125.97% | -985.76% | -34.93% | -52.55% | -187.84% | -628.84% | -66.08% | -22.44% | -352.80% | -127.29% | 31.69% | -27.28% | -682.96% | |
net income margin % | 22.15% | 12.06% | 11.76% | 12.13% | 20.13% | 9.94% | 13.66% | 13.66% | 21.26% | 11.68% | 10.87% | 12.08% | 16.95% | 5.71% | 11.98% | 6.62% | 14.17% | 5.03% | 17.02% | 7.10% | 19.80% | 6.59% | 9.18% | 3.79% | 23.38% | 4.13% | 10.97% | 8.51% | 20.08% | 5.32% | 9.80% | -1.61% | 34.55% | 0.50% | 0.67% | -5.05% | 16.40% | -2.43% | -3.95% | -9.04% | 8.73% | -2.11% | -7.62% | -11.07% | 3.71% | -18.71% | -15.67% | -23.40% | 3.41% |
other comprehensive income, net of tax | -5,128,000 | 72,000 | 679,000 | 1,882,000 | 3,492,000 | -5,658,000 | 6,811,000 | -243,000 | -1,227,000 | 4,929,000 | 120,000 | 15,750 | 1,919,000 | 516,000 | |||||||||||||||||||||||||||||||||||
comprehensive income | 106,122,000 | 50,269,000 | 48,670,000 | 50,488,000 | 94,975,000 | 31,807,000 | 56,384,000 | 48,576,000 | 84,087,000 | 43,045,000 | 34,637,000 | 34,979,000 | 59,535,000 | 16,116,000 | 27,980,000 | 14,405,000 | 33,628,000 | 9,518,000 | 30,857,000 | 11,810,000 | 36,708,000 | 9,455,000 | 12,237,000 | 5,727,000 | 39,950,000 | 5,431,000 | 13,910,000 | 10,331,000 | 28,187,000 | 5,689,000 | 9,867,000 | -1,521,000 | 39,116,000 | 326,000 | 538,000 | ||||||||||||||
net income per share | -0.13 | -0.1 | -0.02 | 0.01 | |||||||||||||||||||||||||||||||||||||||||||||
basic | 2.07 | 0.93 | 0.87 | 0.88 | 1.64 | 0.67 | 0.89 | 0.87 | 1.51 | 0.68 | 0.62 | 0.67 | 1.03 | 0.28 | 0.55 | 0.27 | 0.63 | 0.18 | 0.56 | 0.21 | 0.68 | 0.18 | 0.23 | 0.09 | 0.75 | 0.1 | 0.26 | 0.2 | 0.53 | 0.11 | 0.19 | -0.03 | 0.74 | 0.01 | 0.01 | -0.08 | 0.29 | -0.03 | -0.05 | -0.02 | -0.07 | -0.09 | 0.03 | ||||||
diluted | 2.05 | 0.92 | 0.86 | 0.87 | 1.61 | 0.66 | 0.88 | 0.86 | 1.5 | 0.67 | 0.61 | 0.66 | 1.02 | 0.28 | 0.54 | 0.27 | 0.62 | 0.17 | 0.55 | 0.21 | 0.65 | 0.17 | 0.22 | 0.08 | 0.72 | 0.1 | 0.25 | 0.18 | 0.51 | 0.1 | 0.18 | -0.03 | 0.71 | 0.01 | 0.01 | -0.08 | 0.27 | -0.03 | -0.05 | -0.02 | -0.07 | -0.09 | 0.03 | ||||||
weighted-average shares used for eps calculation | 49,775 | 49,566 | |||||||||||||||||||||||||||||||||||||||||||||||
basic | 53,721 | 54,086 | 55,013 | 55,649 | 55,810 | 55,826 | 55,640 | 56,214 | 56,369 | 56,244 | 56,037 | 55,706 | 55,788 | 55,721 | 55,453 | 55,036 | 55,114 | 55,067 | 54,810 | 54,318 | 54,415 | 54,305 | 54,015 | 53,547 | 53,629 | 53,542 | 53,287 | 52,914 | 52,934 | 52,842 | 52,865 | 52,425 | 52,615 | 52,502 | 51,893 | 51,415 | 51,447 | 51,384 | 51,231 | 50,913 | 50,962 | 50,890 | 50,744 | 50,127 | 50,533 | 36,707 | 44,360 | ||
diluted | 54,274 | 54,773 | 55,859 | 56,550 | 56,780 | 56,740 | 56,266 | 56,976 | 57,048 | 56,855 | 56,881 | 56,596 | 56,555 | 56,474 | 56,664 | 56,445 | 56,367 | 56,468 | 56,506 | 56,305 | 56,414 | 56,343 | 56,050 | 55,807 | 55,953 | 55,826 | 55,713 | 55,414 | 55,465 | 55,081 | 55,487 | 54,887 | 55,030 | 54,818 | 54,610 | 54,057 | 54,002 | 51,384 | 51,231 | 50,913 | 53,424 | 50,890 | 50,744 | 50,127 | 52,203 | 36,707 | 44,870 | ||
other expense | -5,000 | -163,000 | -200,000 | -311,000 | -372,000 | -117,000 | |||||||||||||||||||||||||||||||||||||||||||
income tax benefit | -23,426,000 | -2,087,000 | -20,797,000 | -9,268,000 | -7,432,000 | 41,000 | 32,000 | 43,000 | 49,250 | ||||||||||||||||||||||||||||||||||||||||
other comprehensive loss, net of tax | -2,372,000 | -407,000 | -1,218,000 | -335,000 | -75,000 | -134,000 | -126,000 | -187,000 | |||||||||||||||||||||||||||||||||||||||||
| |||||||||||||||||||||||||||||||||||||||||||||||||
unrealized gains on securities, net of tax | -223,000 | 777,000 | -182,000 | 4,000 | 90,000 | 161,000 | 15,000 | ||||||||||||||||||||||||||||||||||||||||||
total other comprehensive income, net of tax | -223,000 | 777,000 | -182,000 | 4,000 | 90,000 | 161,000 | |||||||||||||||||||||||||||||||||||||||||||
unrealized losses on securities, net of tax | -36,000 | -15,000 | 32,000 | -61,000 | -105,000 | ||||||||||||||||||||||||||||||||||||||||||||
total other comprehensive loss, net of tax | -36,000 | -15,000 | 32,000 | -61,000 | -105,000 | ||||||||||||||||||||||||||||||||||||||||||||
recurring fees | 110,943,000 | 129,976,000 | 100,275,000 | 95,761,000 | 89,989,000 | 105,857,000 | 81,292,000 | 77,294,000 | 72,236,000 | 85,314,000 | 65,347,000 | 61,920,000 | 57,042,000 | 66,279,000 | 51,732,000 | 42,363,000 | 37,636,000 | 43,335,000 | 32,055,000 | 29,142,000 | 26,760,000 | 30,719,000 | |||||||||||||||||||||||||||
total recurring revenues | 116,660,000 | 136,173,000 | 104,740,000 | 99,263,000 | 92,963,000 | 108,576,000 | 83,075,000 | 78,911,000 | 73,378,000 | 86,355,000 | 66,078,000 | 62,637,000 | 57,784,000 | 67,082,000 | 52,347,000 | 42,891,000 | 38,183,000 | 43,936,000 | 32,445,000 | 29,505,000 | 27,120,000 | 31,210,000 | |||||||||||||||||||||||||||
implementation services and other | 3,713,000 | 3,379,000 | 2,464,000 | 1,241,000 | 3,653,000 | 4,831,000 | 2,929,000 | 2,589,000 | 2,683,000 | 3,918,000 | 2,576,000 | 2,385,000 | 2,055,000 | 3,488,000 | 2,837,000 | 2,217,000 | 1,821,000 | 3,336,000 | 1,868,000 | 1,604,000 | 1,527,000 | 2,556,000 | |||||||||||||||||||||||||||
cost of revenues: | |||||||||||||||||||||||||||||||||||||||||||||||||
recurring revenues | 32,409,000 | 32,365,000 | 31,206,000 | 29,231,000 | 27,298,000 | 26,982,000 | 25,638,000 | 24,091,000 | 23,144,000 | 22,436,000 | 20,716,000 | 19,103,000 | 18,273,000 | 18,576,000 | 16,125,000 | 13,157,000 | 11,750,000 | 12,606,000 | 11,953,000 | 10,057,000 | 9,999,000 | 10,246,000 | |||||||||||||||||||||||||||
total cost of revenues | 40,094,000 | 39,745,000 | 38,070,000 | 35,942,000 | 38,746,000 | 38,652,000 | 36,840,000 | 34,959,000 | 33,163,000 | 32,082,000 | 30,383,000 | 28,359,000 | 26,581,000 | 27,209,000 | 24,100,000 | 20,195,000 | 18,116,000 | 19,282,000 | 18,046,000 | 15,452,000 | 15,104,000 | 14,925,000 | |||||||||||||||||||||||||||
other comprehensive income | |||||||||||||||||||||||||||||||||||||||||||||||||
total other comprehensive income | 15,000 | ||||||||||||||||||||||||||||||||||||||||||||||||
net income (loss) per share: | |||||||||||||||||||||||||||||||||||||||||||||||||
basic | 0.008 | 0.12 | |||||||||||||||||||||||||||||||||||||||||||||||
diluted | 0.008 | 0.12 | |||||||||||||||||||||||||||||||||||||||||||||||
net income attributable to common stockholders | -4,429,000 | 1,752,000 | -6,704,000 | 430,000 | |||||||||||||||||||||||||||||||||||||||||||||
net loss attributable to common stockholders | -6,420,000 | -4,875,000 | |||||||||||||||||||||||||||||||||||||||||||||||
net income per share | -0.13 | -0.1 | -0.02 | 0.01 | |||||||||||||||||||||||||||||||||||||||||||||
weighted-average shares used for eps calculation | 49,775 | 49,566 | |||||||||||||||||||||||||||||||||||||||||||||||
revenues | |||||||||||||||||||||||||||||||||||||||||||||||||
operating expenses | |||||||||||||||||||||||||||||||||||||||||||||||||
weighted-average number of shares of common stock used in computing net income per share attributable to common stockholders: | |||||||||||||||||||||||||||||||||||||||||||||||||
basic | 53,721 | 54,086 | 55,013 | 55,649 | 55,810 | 55,826 | 55,640 | 56,214 | 56,369 | 56,244 | 56,037 | 55,706 | 55,788 | 55,721 | 55,453 | 55,036 | 55,114 | 55,067 | 54,810 | 54,318 | 54,415 | 54,305 | 54,015 | 53,547 | 53,629 | 53,542 | 53,287 | 52,914 | 52,934 | 52,842 | 52,865 | 52,425 | 52,615 | 52,502 | 51,893 | 51,415 | 51,447 | 51,384 | 51,231 | 50,913 | 50,962 | 50,890 | 50,744 | 50,127 | 50,533 | 36,707 | 44,360 | ||
diluted | 54,274 | 54,773 | 55,859 | 56,550 | 56,780 | 56,740 | 56,266 | 56,976 | 57,048 | 56,855 | 56,881 | 56,596 | 56,555 | 56,474 | 56,664 | 56,445 | 56,367 | 56,468 | 56,506 | 56,305 | 56,414 | 56,343 | 56,050 | 55,807 | 55,953 | 55,826 | 55,713 | 55,414 | 55,465 | 55,081 | 55,487 | 54,887 | 55,030 | 54,818 | 54,610 | 54,057 | 54,002 | 51,384 | 51,231 | 50,913 | 53,424 | 50,890 | 50,744 | 50,127 | 52,203 | 36,707 | 44,870 |
Balance Sheets:
Quarterly
Annual
| Unit: USD | 2026-03-31 | 2025-12-31 | 2025-09-30 | 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 | 2016-09-30 | 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 | 2014-03-31 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
assets | ||||||||||||||||||||||||||||||||||||||||||||||||
current assets: | ||||||||||||||||||||||||||||||||||||||||||||||||
cash and cash equivalents | 299,728,000 | 398,070,000 | 398,070,000 | 398,070,000 | 477,785,000 | 401,811,000 | 401,811,000 | 401,811,000 | 492,695,000 | 288,767,000 | 288,767,000 | 288,767,000 | 233,692,000 | 139,756,000 | 139,756,000 | 139,756,000 | 96,465,000 | 202,287,000 | 202,287,000 | 202,287,000 | 175,453,000 | 250,851,000 | 250,851,000 | 250,851,000 | 114,325,000 | 132,476,000 | 132,476,000 | 132,476,000 | 90,856,000 | 137,193,000 | 137,193,000 | 137,193,000 | 129,530,000 | 103,468,000 | 103,468,000 | 103,468,000 | 101,450,000 | 86,496,000 | 86,496,000 | 89,707,000 | 81,258,000 | 81,258,000 | 81,258,000 | 93,227,000 | 78,848,000 | 78,848,000 | 78,848,000 | 88,944,000 |
accounts receivable | 48,368,000 | 41,642,000 | 41,642,000 | 41,642,000 | 43,629,000 | 32,997,000 | 32,997,000 | 32,997,000 | 33,714,000 | 25,085,000 | 25,085,000 | 25,085,000 | 27,449,000 | 15,754,000 | 15,754,000 | 15,754,000 | 17,794,000 | 6,267,000 | 6,267,000 | 6,267,000 | 9,211,000 | 4,923,000 | 4,923,000 | 4,923,000 | 5,761,000 | 4,358,000 | 4,358,000 | 4,358,000 | 5,137,000 | 3,453,000 | 3,453,000 | 3,453,000 | 3,384,000 | 2,040,000 | 2,040,000 | 2,040,000 | 2,177,000 | 1,681,000 | 1,681,000 | 1,725,000 | 1,115,000 | 1,115,000 | 1,115,000 | 1,070,000 | 756,000 | 756,000 | 756,000 | 791,000 |
deferred contract costs | 128,478,000 | 117,177,000 | 117,177,000 | 117,177,000 | 111,839,000 | 97,859,000 | 97,859,000 | 97,859,000 | 92,450,000 | 78,109,000 | 78,109,000 | 78,109,000 | 73,574,000 | 59,501,000 | 59,501,000 | 59,501,000 | 54,735,000 | 44,230,000 | 44,230,000 | 44,230,000 | 40,721,000 | 32,332,000 | 32,332,000 | 32,332,000 | 29,086,000 | 21,677,000 | 21,677,000 | 21,677,000 | 19,765,000 | |||||||||||||||||||
prepaid expenses and other | 43,298,000 | 50,943,000 | 50,943,000 | 50,943,000 | 40,232,000 | 39,765,000 | 39,765,000 | 39,765,000 | 36,476,000 | 35,061,000 | 35,061,000 | 35,061,000 | 28,880,000 | 28,896,000 | 28,896,000 | 28,896,000 | 23,430,000 | 15,966,000 | 15,966,000 | 15,966,000 | 14,198,000 | 13,188,000 | 13,188,000 | 13,188,000 | 13,337,000 | 13,895,000 | 13,895,000 | 13,895,000 | 21,922,000 | 11,248,000 | 11,248,000 | 11,980,000 | 16,921,000 | 14,879,000 | 14,879,000 | 14,879,000 | 13,094,000 | 7,409,000 | 7,409,000 | 7,059,000 | 4,416,000 | 4,416,000 | 4,416,000 | 4,844,000 | 2,694,000 | 2,694,000 | 2,694,000 | 3,160,000 |
total current assets before funds held for clients | 519,872,000 | 607,832,000 | 607,832,000 | 607,832,000 | 673,485,000 | 572,432,000 | 572,432,000 | 572,432,000 | 655,335,000 | 427,022,000 | 427,022,000 | 427,022,000 | 363,595,000 | 243,907,000 | 243,907,000 | 243,907,000 | 192,424,000 | 273,206,000 | 273,206,000 | 273,206,000 | 246,406,000 | 335,850,000 | 335,850,000 | 335,850,000 | 228,817,000 | 201,720,000 | 201,720,000 | 201,720,000 | 185,839,000 | 152,626,000 | 152,626,000 | 152,626,000 | 149,835,000 | 120,387,000 | 120,387,000 | 120,387,000 | 116,721,000 | 95,586,000 | 95,586,000 | 98,878,000 | 87,564,000 | 87,564,000 | 87,564,000 | 99,825,000 | 83,004,000 | 83,004,000 | 83,004,000 | 93,589,000 |
funds held for clients | 3,838,468,000 | 2,704,137,000 | 2,704,137,000 | 2,704,137,000 | 3,429,517,000 | 2,952,060,000 | 2,952,060,000 | 2,952,060,000 | 3,591,198,000 | 2,621,415,000 | 2,621,415,000 | 2,621,415,000 | 3,202,415,000 | 3,987,776,000 | 3,987,776,000 | 3,987,776,000 | 4,324,567,000 | 1,759,677,000 | 1,759,677,000 | 1,759,677,000 | 2,051,914,000 | 1,327,304,000 | 1,327,304,000 | 1,327,304,000 | 1,729,176,000 | 1,394,469,000 | 1,394,469,000 | 1,394,469,000 | 1,722,309,000 | 1,225,614,000 | 1,225,614,000 | 1,225,614,000 | 1,347,522,000 | 942,459,000 | 942,459,000 | 942,459,000 | 1,170,341,000 | 1,239,622,000 | 1,239,622,000 | 1,422,976,000 | 591,219,000 | 591,219,000 | 591,219,000 | 731,616,000 | 417,261,000 | 417,261,000 | 417,261,000 | 541,723,000 |
total current assets | 4,358,340,000 | 3,311,969,000 | 3,311,969,000 | 3,311,969,000 | 4,103,002,000 | 3,524,492,000 | 3,524,492,000 | 3,524,492,000 | 4,246,533,000 | 3,048,437,000 | 3,048,437,000 | 3,048,437,000 | 3,566,010,000 | 4,231,683,000 | 4,231,683,000 | 4,231,683,000 | 4,516,991,000 | 2,032,883,000 | 2,032,883,000 | 2,032,883,000 | 2,298,320,000 | 1,663,154,000 | 1,663,154,000 | 1,663,154,000 | 1,957,993,000 | 1,596,189,000 | 1,596,189,000 | 1,596,189,000 | 1,908,148,000 | 1,378,240,000 | 1,378,240,000 | 1,378,240,000 | 1,497,357,000 | 1,062,846,000 | 1,062,846,000 | 1,062,846,000 | 1,287,062,000 | 1,335,208,000 | 1,335,208,000 | 1,521,854,000 | 678,783,000 | 678,783,000 | 678,783,000 | 831,441,000 | 500,265,000 | 500,265,000 | 500,265,000 | 635,312,000 |
capitalized internal-use software | 139,972,000 | 132,317,000 | 132,317,000 | 132,317,000 | 129,472,000 | 116,412,000 | 116,412,000 | 116,412,000 | 110,681,000 | 86,127,000 | 86,127,000 | 86,127,000 | 78,374,000 | 61,985,000 | 61,985,000 | 61,985,000 | 57,713,000 | 45,018,000 | 45,018,000 | 45,018,000 | 42,704,000 | 36,501,000 | 36,501,000 | 36,501,000 | 34,067,000 | 27,486,000 | 27,486,000 | 27,486,000 | 24,584,000 | 21,094,000 | 21,094,000 | 21,094,000 | 20,002,000 | 17,394,000 | 17,394,000 | 17,394,000 | 16,705,000 | 11,427,000 | 11,427,000 | 10,181,000 | 7,357,000 | 7,357,000 | 7,357,000 | |||||
property and equipment | 56,757,000 | 54,210,000 | 54,210,000 | 54,210,000 | 53,928,000 | 60,640,000 | 60,640,000 | 60,640,000 | 60,773,000 | 64,069,000 | 64,069,000 | 64,069,000 | 60,067,000 | 62,839,000 | 62,839,000 | 62,839,000 | 64,004,000 | 59,835,000 | 59,835,000 | 59,835,000 | 62,187,000 | 66,737,000 | 66,737,000 | 66,737,000 | 68,698,000 | 70,056,000 | 70,056,000 | 70,056,000 | 64,893,000 | 62,029,000 | 62,029,000 | 62,029,000 | 50,380,000 | 40,756,000 | 40,756,000 | 40,756,000 | 34,297,000 | 26,787,000 | 26,787,000 | 24,934,000 | 16,061,000 | 16,061,000 | 16,061,000 | 15,715,000 | 13,125,000 | 13,125,000 | 13,125,000 | 12,142,000 |
operating lease right-of-use assets | 34,919,000 | 35,997,000 | 35,997,000 | 35,997,000 | 37,627,000 | 33,792,000 | 33,792,000 | 33,792,000 | 35,705,000 | 44,067,000 | 44,067,000 | 44,067,000 | 45,006,000 | 49,210,000 | 49,210,000 | 49,210,000 | 50,808,000 | 43,984,000 | 43,984,000 | 43,984,000 | 45,112,000 | 48,658,000 | 48,658,000 | 48,658,000 | 50,180,000 | |||||||||||||||||||||||
intangible assets | 77,137,000 | 92,671,000 | 92,671,000 | 92,671,000 | 97,939,000 | 28,291,000 | 28,291,000 | 28,291,000 | 30,868,000 | 34,527,000 | 34,527,000 | 34,527,000 | 37,164,000 | 45,475,000 | 45,475,000 | 45,475,000 | 48,245,000 | 13,027,000 | 13,027,000 | 13,027,000 | 14,055,000 | 13,360,000 | 13,360,000 | 13,360,000 | 9,063,000 | 10,751,000 | 10,751,000 | 10,751,000 | 11,314,000 | 13,002,000 | 13,002,000 | 13,002,000 | 13,457,000 | 8,907,000 | 8,907,000 | 8,907,000 | 9,277,000 | 10,419,000 | 10,419,000 | 10,799,000 | 11,941,000 | 11,941,000 | 11,941,000 | 5,750,000 | 6,320,000 | 6,320,000 | 6,320,000 | |
goodwill | 343,158,000 | 343,100,000 | 343,100,000 | 343,100,000 | 342,799,000 | 108,937,000 | 108,937,000 | 108,937,000 | 108,527,000 | 102,054,000 | 102,054,000 | 102,054,000 | 102,054,000 | 101,949,000 | 101,949,000 | 101,949,000 | 102,183,000 | 33,650,000 | 33,650,000 | 33,650,000 | 33,184,000 | 21,655,000 | 21,655,000 | 21,655,000 | 9,590,000 | 9,590,000 | 9,590,000 | 9,590,000 | 9,590,000 | 9,590,000 | 9,590,000 | 9,590,000 | 9,754,000 | 6,003,000 | 6,003,000 | 6,003,000 | 6,003,000 | 6,003,000 | 6,003,000 | 6,003,000 | 6,003,000 | 6,003,000 | 6,003,000 | 3,035,000 | 3,035,000 | 3,035,000 | 3,035,000 | |
long-term deferred contract costs | 413,589,000 | 393,671,000 | 393,671,000 | 393,671,000 | 378,456,000 | 348,003,000 | 348,003,000 | 348,003,000 | 333,393,000 | 294,222,000 | 294,222,000 | 294,222,000 | 280,310,000 | 229,067,000 | 229,067,000 | 229,067,000 | 209,580,000 | 170,663,000 | 170,663,000 | 170,663,000 | 156,943,000 | 125,711,000 | 125,711,000 | 125,711,000 | 111,842,000 | 81,422,000 | 81,422,000 | 81,422,000 | 73,701,000 | |||||||||||||||||||
long‑term prepaid expenses and other | 8,586,000 | 7,739,000 | 7,739,000 | 7,739,000 | 6,603,000 | 7,077,000 | 7,077,000 | 7,077,000 | 7,404,000 | 6,331,000 | 6,331,000 | 6,331,000 | 6,842,000 | 7,746,000 | 7,746,000 | 7,746,000 | 4,223,000 | 4,223,000 | 3,773,000 | 4,917,000 | ||||||||||||||||||||||||||||
deferred income tax assets | 11,917,000 | 17,754,000 | 17,754,000 | 17,754,000 | 18,140,000 | 17,816,000 | 17,816,000 | 17,816,000 | 19,153,000 | 15,846,000 | 15,846,000 | 15,846,000 | 17,690,000 | 19,060,000 | 19,060,000 | 19,060,000 | 21,804,000 | 11,602,000 | 11,602,000 | 11,602,000 | 7,274,000 | 4,955,000 | 4,955,000 | 4,955,000 | 7,229,000 | 6,472,000 | 6,472,000 | 6,472,000 | 22,140,000 | 22,140,000 | 22,140,000 | 18,906,000 | 387,000 | 775,000 | 775,000 | 775,000 | 684,000 | 706,000 | 706,000 | 706,000 | 563,000 | |||||||
total assets | 5,444,375,000 | 4,389,428,000 | 4,389,428,000 | 4,389,428,000 | 5,167,966,000 | 4,245,460,000 | 4,245,460,000 | 4,245,460,000 | 4,953,037,000 | 3,695,680,000 | 3,695,680,000 | 3,695,680,000 | 4,193,517,000 | 4,809,014,000 | 4,809,014,000 | 4,809,014,000 | 5,079,238,000 | 2,414,885,000 | 2,414,885,000 | 2,414,885,000 | 2,663,552,000 | 1,985,648,000 | 1,985,648,000 | 1,985,648,000 | 2,256,928,000 | 1,803,941,000 | 1,803,941,000 | 1,803,941,000 | 2,094,996,000 | 1,507,599,000 | 1,507,599,000 | 1,507,599,000 | 1,610,878,000 | 1,137,441,000 | 1,137,441,000 | 1,137,441,000 | 1,354,936,000 | 1,390,689,000 | 1,390,689,000 | 1,574,627,000 | 720,548,000 | 720,548,000 | 720,548,000 | 862,360,000 | 528,151,000 | 528,151,000 | 528,151,000 | 651,598,000 |
liabilities and stockholders’ equity | ||||||||||||||||||||||||||||||||||||||||||||||||
current liabilities: | ||||||||||||||||||||||||||||||||||||||||||||||||
accounts payable | 12,260,000 | 17,347,000 | 17,347,000 | 17,347,000 | 8,719,000 | 8,638,000 | 8,638,000 | 8,638,000 | 5,181,000 | 6,153,000 | 6,153,000 | 6,153,000 | 7,968,000 | 8,374,000 | 8,374,000 | 8,374,000 | 5,051,000 | 4,230,000 | 4,230,000 | 4,230,000 | 3,319,000 | 1,755,000 | 1,755,000 | 1,755,000 | 3,626,000 | 3,954,000 | 3,954,000 | 3,954,000 | 5,344,000 | 2,990,000 | 2,990,000 | 2,990,000 | 2,371,000 | 2,046,000 | 2,046,000 | 2,046,000 | 1,633,000 | 1,621,000 | 1,621,000 | 851,000 | 1,327,000 | 1,327,000 | 1,327,000 | 2,122,000 | 2,133,000 | 2,133,000 | 2,133,000 | 3,088,000 |
accrued expenses | 191,606,000 | 193,081,000 | 193,081,000 | 193,081,000 | 193,644,000 | 158,311,000 | 158,311,000 | 158,311,000 | 170,575,000 | 143,287,000 | 143,287,000 | 143,287,000 | 144,281,000 | 124,384,000 | 124,384,000 | 124,384,000 | 108,820,000 | 103,109,000 | 103,109,000 | 103,109,000 | 83,139,000 | 79,881,000 | 79,881,000 | 79,881,000 | 64,002,000 | 57,625,000 | 57,625,000 | 57,625,000 | 48,396,000 | 42,241,000 | 42,241,000 | 42,241,000 | 35,474,000 | 30,301,000 | 30,301,000 | 30,301,000 | 27,136,000 | 24,979,000 | 24,979,000 | 24,964,000 | 16,430,000 | 16,430,000 | 16,430,000 | 15,985,000 | 10,744,000 | 10,744,000 | 10,744,000 | 10,572,000 |
total current liabilities before client fund obligations | 203,866,000 | 210,428,000 | 210,428,000 | 210,428,000 | 202,363,000 | 166,949,000 | 166,949,000 | 166,949,000 | 175,756,000 | 149,440,000 | 149,440,000 | 149,440,000 | 152,249,000 | 132,758,000 | 132,758,000 | 132,758,000 | 113,871,000 | 107,339,000 | 107,339,000 | 107,339,000 | 86,458,000 | 81,636,000 | 81,636,000 | 81,636,000 | 67,628,000 | 61,579,000 | 61,579,000 | 61,579,000 | 53,740,000 | 45,231,000 | 45,231,000 | 45,231,000 | 37,845,000 | 32,347,000 | 32,347,000 | 32,347,000 | 28,769,000 | 26,600,000 | 26,600,000 | 25,815,000 | 18,268,000 | 18,268,000 | 18,268,000 | 18,107,000 | 15,867,000 | 15,867,000 | 15,867,000 | 13,660,000 |
client fund obligations | 3,833,941,000 | 2,694,842,000 | 2,694,842,000 | 2,694,842,000 | 3,422,621,000 | 2,950,411,000 | 2,950,411,000 | 2,950,411,000 | 3,589,437,000 | 2,625,355,000 | 2,625,355,000 | 2,625,355,000 | 3,202,415,000 | 3,987,776,000 | 3,987,776,000 | 3,987,776,000 | 4,324,567,000 | 1,759,677,000 | 1,759,677,000 | 1,759,677,000 | 2,051,914,000 | 1,327,304,000 | 1,327,304,000 | 1,327,304,000 | 1,729,176,000 | 1,394,469,000 | 1,394,469,000 | 1,394,469,000 | 1,722,309,000 | 1,225,614,000 | 1,225,614,000 | 1,225,614,000 | 1,347,522,000 | 942,459,000 | 942,459,000 | 942,459,000 | 1,170,341,000 | 1,239,622,000 | 1,239,622,000 | 1,422,976,000 | 591,219,000 | 591,219,000 | 591,219,000 | 731,616,000 | 417,261,000 | 417,261,000 | 417,261,000 | 541,723,000 |
total current liabilities | 4,037,807,000 | 2,905,270,000 | 2,905,270,000 | 2,905,270,000 | 3,624,984,000 | 3,117,360,000 | 3,117,360,000 | 3,117,360,000 | 3,765,193,000 | 2,774,795,000 | 2,774,795,000 | 2,774,795,000 | 3,354,664,000 | 4,120,534,000 | 4,120,534,000 | 4,120,534,000 | 4,438,438,000 | 1,867,016,000 | 1,867,016,000 | 1,867,016,000 | 2,138,372,000 | 1,408,940,000 | 1,408,940,000 | 1,408,940,000 | 1,796,804,000 | 1,456,048,000 | 1,456,048,000 | 1,456,048,000 | 1,776,049,000 | 1,270,845,000 | 1,270,845,000 | 1,270,845,000 | 1,385,367,000 | 974,806,000 | 974,806,000 | 974,806,000 | 1,199,110,000 | 1,266,222,000 | 1,266,222,000 | 1,448,791,000 | 609,487,000 | 609,487,000 | 609,487,000 | 749,723,000 | 433,128,000 | 433,128,000 | 433,128,000 | 555,383,000 |
long-term debt | 81,250,000 | 162,500,000 | 162,500,000 | 162,500,000 | 243,750,000 | 100,000,000 | 100,000,000 | 100,000,000 | ||||||||||||||||||||||||||||||||||||||||
long-term operating lease liabilities | 43,939,000 | 46,772,000 | 46,772,000 | 46,772,000 | 49,030,000 | 46,814,000 | 46,814,000 | 46,814,000 | 48,888,000 | 62,471,000 | 62,471,000 | 62,471,000 | 64,060,000 | 69,119,000 | 69,119,000 | 69,119,000 | 71,178,000 | 67,201,000 | 67,201,000 | 67,201,000 | 68,661,000 | 73,299,000 | 73,299,000 | 73,299,000 | 74,912,000 | |||||||||||||||||||||||
other long-term liabilities | 12,402,000 | 8,580,000 | 8,580,000 | 8,580,000 | 7,868,000 | 6,398,000 | 6,398,000 | 6,398,000 | 6,008,000 | 3,731,000 | 3,731,000 | 3,731,000 | 3,830,000 | 3,681,000 | 3,681,000 | 3,681,000 | 2,422,000 | 1,958,000 | 1,958,000 | 1,958,000 | 1,910,000 | 1,747,000 | 1,747,000 | 1,747,000 | 1,668,000 | 1,723,000 | 1,723,000 | 1,723,000 | 1,925,000 | 1,118,000 | 1,118,000 | 1,118,000 | ||||||||||||||||
deferred income tax liabilities | 88,243,000 | 32,559,000 | 32,559,000 | 32,559,000 | 33,599,000 | 41,824,000 | 41,824,000 | 41,824,000 | 33,534,000 | 11,820,000 | 11,820,000 | 11,820,000 | 2,217,000 | 2,217,000 | 2,217,000 | 2,217,000 | 1,781,000 | 1,780,000 | 1,780,000 | 1,780,000 | 8,754,000 | 8,754,000 | 8,754,000 | 9,169,000 | 6,943,000 | 6,943,000 | 6,943,000 | 890,000 | 401,000 | 401,000 | 401,000 | 376,000 | 249,000 | 249,000 | 599,000 | 874,000 | 874,000 | 874,000 | 751,000 | 714,000 | 714,000 | 714,000 | 172,000 | |||||
total liabilities | 4,263,641,000 | 3,155,681,000 | 3,155,681,000 | 3,155,681,000 | 3,959,231,000 | 3,212,396,000 | 3,212,396,000 | 3,212,396,000 | 3,853,623,000 | 2,852,817,000 | 2,852,817,000 | 2,852,817,000 | 3,424,771,000 | 4,195,551,000 | 4,195,551,000 | 4,195,551,000 | 4,513,819,000 | 1,937,955,000 | 1,937,955,000 | 1,937,955,000 | 2,208,943,000 | 1,592,740,000 | 1,592,740,000 | 1,592,740,000 | 1,882,553,000 | 1,495,977,000 | 1,495,977,000 | 1,495,977,000 | 1,808,771,000 | 1,294,775,000 | 1,294,775,000 | 1,294,775,000 | 1,406,330,000 | 989,828,000 | 989,828,000 | 989,828,000 | 1,209,087,000 | 1,271,117,000 | 1,271,117,000 | 1,454,033,000 | 612,968,000 | 612,968,000 | 612,968,000 | 753,494,000 | 437,017,000 | 437,017,000 | 437,017,000 | 558,202,000 |
stockholders’ equity: | ||||||||||||||||||||||||||||||||||||||||||||||||
preferred stock, 0.001 par value... | ||||||||||||||||||||||||||||||||||||||||||||||||
common stock, 0.001 par value... | 54,000 | 55,000 | 55,000 | 55,000 | 56,000 | 56,000 | 56,000 | 56,000 | 56,000 | 56,000 | 56,000 | 56,000 | 56,000 | 55,000 | 55,000 | 55,000 | 55,000 | 55,000 | 55,000 | 55,000 | 54,000 | 54,000 | 54,000 | 54,000 | 54,000 | 53,000 | 53,000 | 53,000 | 53,000 | 53,000 | 53,000 | 53,000 | 53,000 | 52,000 | 52,000 | 52,000 | 51,000 | 51,000 | 51,000 | 51,000 | 51,000 | 51,000 | 51,000 | 51,000 | 50,000 | 50,000 | 50,000 | 50,000 |
additional paid-in capital | 69,445,000 | 327,518,000 | 327,518,000 | 327,518,000 | 352,993,000 | 360,488,000 | 360,488,000 | 360,488,000 | 475,414,000 | 380,632,000 | 380,632,000 | 380,632,000 | 341,494,000 | 289,843,000 | 289,843,000 | 289,843,000 | 256,204,000 | 241,718,000 | 241,718,000 | 241,718,000 | 231,208,000 | 227,907,000 | 227,907,000 | 227,907,000 | 215,101,000 | 207,982,000 | 207,982,000 | 207,982,000 | 196,574,000 | 219,588,000 | 219,588,000 | 219,588,000 | 209,791,000 | 192,837,000 | 192,837,000 | 192,837,000 | 187,230,000 | 171,515,000 | 171,515,000 | 167,125,000 | 155,672,000 | 155,672,000 | 155,672,000 | 152,529,000 | 125,255,000 | 125,255,000 | 125,255,000 | 120,813,000 |
retained earnings | 1,110,021,000 | 900,583,000 | 900,583,000 | 900,583,000 | 851,977,000 | 673,456,000 | 673,456,000 | 673,456,000 | 624,637,000 | 466,690,000 | 466,690,000 | 466,690,000 | 429,436,000 | 325,868,000 | 325,868,000 | 325,868,000 | 310,722,000 | 235,091,000 | 235,091,000 | 235,091,000 | 223,208,000 | 164,272,000 | 164,272,000 | 164,272,000 | 159,322,000 | 99,817,000 | 99,817,000 | 99,817,000 | 89,576,000 | -6,678,000 | -6,678,000 | |||||||||||||||||
accumulated other comprehensive income | 1,214,000 | 5,591,000 | 5,591,000 | 5,591,000 | 3,709,000 | -936,000 | -936,000 | -4,515,000 | -2,303,000 | -1,562,000 | 66,000 | 66,000 | 66,000 | 139,000 | 675,000 | 675,000 | 675,000 | -102,000 | 112,000 | 112,000 | 112,000 | 22,000 | ||||||||||||||||||||||||||
total stockholders' equity | 1,180,734,000 | 1,233,747,000 | 1,233,747,000 | 1,233,747,000 | 1,208,735,000 | 1,033,064,000 | 1,033,064,000 | 1,033,064,000 | 1,099,414,000 | 842,863,000 | 842,863,000 | 842,863,000 | 768,746,000 | 613,463,000 | 613,463,000 | 613,463,000 | 565,419,000 | 476,930,000 | 476,930,000 | 476,930,000 | 454,609,000 | 392,908,000 | ||||||||||||||||||||||||||
total liabilities and stockholders’ equity | 5,444,375,000 | 4,389,428,000 | 4,389,428,000 | 4,389,428,000 | 5,167,966,000 | 4,245,460,000 | 4,245,460,000 | 4,245,460,000 | 4,953,037,000 | 3,695,680,000 | 3,695,680,000 | 3,695,680,000 | 4,193,517,000 | 4,809,014,000 | 4,809,014,000 | 4,809,014,000 | 5,079,238,000 | 2,414,885,000 | 2,414,885,000 | 2,414,885,000 | 2,663,552,000 | 1,985,648,000 | 1,985,648,000 | 1,985,648,000 | 2,256,928,000 | 1,803,941,000 | 1,803,941,000 | 1,803,941,000 | 2,094,996,000 | 1,507,599,000 | 1,507,599,000 | 1,507,599,000 | 1,610,878,000 | 1,137,441,000 | 1,137,441,000 | 1,137,441,000 | 1,354,936,000 | 1,390,689,000 | 1,390,689,000 | 1,574,627,000 | 720,548,000 | 720,548,000 | 720,548,000 | 862,360,000 | 528,151,000 | 528,151,000 | 528,151,000 | |
accumulated other comprehensive loss | -936,000 | -693,000 | -4,515,000 | -4,515,000 | -2,240,000 | -2,303,000 | -2,303,000 | -139,000 | -139,000 | -139,000 | -171,000 | |||||||||||||||||||||||||||||||||||||
corporate investments | 4,456,000 | 4,456,000 | 4,456,000 | 6,823,000 | 34,556,000 | 34,556,000 | 34,556,000 | 66,308,000 | 29,314,000 | 29,314,000 | 29,314,000 | 48,159,000 | 732,000 | 732,000 | ||||||||||||||||||||||||||||||||||
long-term prepaid expenses and other | 7,910,000 | 4,223,000 | 4,917,000 | 4,917,000 | 8,266,000 | 1,975,000 | 1,975,000 | 1,975,000 | 2,766,000 | 1,504,000 | 1,504,000 | |||||||||||||||||||||||||||||||||||||
| ||||||||||||||||||||||||||||||||||||||||||||||||
total stockholders’ equity | 392,908,000 | 392,908,000 | 374,375,000 | 307,964,000 | 307,964,000 | 307,964,000 | 286,225,000 | 212,824,000 | 212,824,000 | 212,824,000 | 204,548,000 | 147,613,000 | 147,613,000 | 147,613,000 | 145,849,000 | 119,572,000 | 119,572,000 | 120,594,000 | 107,580,000 | 107,580,000 | 107,580,000 | 108,866,000 | 91,134,000 | 91,134,000 | 91,134,000 | 93,396,000 | ||||||||||||||||||||||
deferred rent | 31,263,000 | 31,263,000 | 31,263,000 | 29,907,000 | 22,812,000 | 22,812,000 | 22,812,000 | 20,963,000 | 14,621,000 | 14,621,000 | 14,621,000 | 9,601,000 | 4,646,000 | 4,646,000 | 4,643,000 | 2,607,000 | 2,607,000 | 2,607,000 | 3,020,000 | 3,175,000 | 3,175,000 | 3,175,000 | 2,647,000 | |||||||||||||||||||||||||
long-term prepaid expenses | 1,504,000 | 1,022,000 | 1,535,000 | 1,535,000 | 1,535,000 | 1,592,000 | 845,000 | 845,000 | 856,000 | 403,000 | 403,000 | 403,000 | 213,000 | 313,000 | 313,000 | 313,000 | 344,000 | |||||||||||||||||||||||||||||||
accumulated deficit | -6,678,000 | -5,125,000 | -45,276,000 | -45,276,000 | -45,276,000 | -41,432,000 | -51,994,000 | |||||||||||||||||||||||||||||||||||||||||
consideration related to acquisitions | 511,000 | 511,000 | 511,000 | |||||||||||||||||||||||||||||||||||||||||||||
stockholders’ equity | ||||||||||||||||||||||||||||||||||||||||||||||||
capitalized software | 6,206,000 | 5,093,000 | 5,093,000 | 5,093,000 | 3,800,000 | |||||||||||||||||||||||||||||||||||||||||||
taxes payable | 5,000 | 5,000 | 5,000 | |||||||||||||||||||||||||||||||||||||||||||||
consideration related to acquisition | 2,985,000 | 2,985,000 | 2,985,000 | |||||||||||||||||||||||||||||||||||||||||||||
taxes receivable | 131,000 | |||||||||||||||||||||||||||||||||||||||||||||||
liabilities, redeemable convertible preferred stock and stockholders’ equity | ||||||||||||||||||||||||||||||||||||||||||||||||
current portion of long-term debt | ||||||||||||||||||||||||||||||||||||||||||||||||
redeemable convertible preferred stock, 0.001 par value... | ||||||||||||||||||||||||||||||||||||||||||||||||
series a, 6% cumulative dividend, 9,500 shares issued and outstanding as of june 30, 2013 and no shares issued and outstanding march 31, 2014 | ||||||||||||||||||||||||||||||||||||||||||||||||
series b, 8% cumulative dividend, 8,400 shares issued and outstanding at june 30, 2013 and no shares issued and outstanding march 31, 2014 | ||||||||||||||||||||||||||||||||||||||||||||||||
total liabilities, redeemable convertible preferred stock, and stockholders’ equity | 651,598,000 |
Cashflow Statements:
Quarterly
Annual
| Unit: USD | 2026-03-31 | 2025-12-31 | 2025-09-30 | 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 | 111,250,000 | 50,197,000 | 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 | -3,844,000 | 14,801,000 | -4,429,000 | -6,704,000 | |||||||||
adjustments to reconcile net income to net cash from operating activities: | ||||||||||||||||||||||||||||||||||||||||||||||||
stock-based compensation expense | 31,413,000 | 42,244,000 | 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 | 8,039,000 | 6,247,000 | 6,635,000 | 5,813,000 | |||||||||
depreciation and amortization expense | 27,298,000 | 27,803,000 | 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 | 6,342,000 | 5,582,000 | 4,835,000 | 4,268,000 | |||||||||
deferred income tax expense | 29,737,000 | 10,955,000 | 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 | 25,000 | 24,000 | 78,000 | 37,000 | -38,000 | 67,000 | 84,000 | 19,000 | 20,000 | ||||||||||||||||||
provision for credit losses | 413,000 | 607,000 | 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 | 135,000 | 65,000 | 38,000 | 103,000 | 115,000 | 42,000 | 56,000 | ||||||||||||||||||||||||||
net accretion of discounts on available-for-sale securities | -341,000 | -413,000 | -405,000 | -362,000 | -615,000 | -662,000 | -1,005,000 | -1,291,000 | -1,392,000 | |||||||||||||||||||||||||||||||||||||||
other | 633,000 | 195,000 | 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 | -7,002,000 | -3,231,000 | -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 | 71,000 | -97,000 | |||||||||||
deferred contract costs | -8,329,000 | -12,021,000 | -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 | 6,678,000 | 7,275,000 | -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 | -272,000 | -2,647,000 | |||||||||||
accounts payable | 5,044,000 | 471,000 | -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 | 364,000 | -191,000 | |||||||||||
accrued expenses and other | 21,110,000 | -7,083,000 | -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 | 217,904,000 | 116,999,000 | 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 | 18,645,000 | 27,945,000 | 3,926,000 | 2,978,000 | 904,000 | 9,352,000 | -878,000 | ||||||
capital expenditures | -25,638,000 | -16,640,000 | -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 | -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 | -10,990,000 | -8,130,000 | -76,000 | 845,000 | -491,000 | -665,000 | 0 | |||||||
free cash flows | 192,266,000 | 100,359,000 | 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 | 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 | 7,655,000 | 19,815,000 | 3,850,000 | 3,823,000 | 413,000 | 8,687,000 | -878,000 | |||||||
cash flows from investing activities: | ||||||||||||||||||||||||||||||||||||||||||||||||
purchases of available-for-sale securities | -144,660,000 | -84,878,000 | -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 | 142,263,000 | 94,055,000 | 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 | -17,701,000 | -15,940,000 | -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 | -3,568,000 | -3,794,000 | |||||||||||
purchases of property and equipment | -8,358,000 | -3,363,000 | -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 | -7,422,000 | -3,878,000 | |||||||||||
acquisitions of businesses, net of cash and funds held for clients acquired | 150,000 | |||||||||||||||||||||||||||||||||||||||||||||||
other investing activities | 2,235,000 | 331,000 | -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 | -26,221,000 | -9,795,000 | -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 | 214,047,000 | -85,542,000 | 44,793,000 | ||||||||||
cash flows from financing activities: | ||||||||||||||||||||||||||||||||||||||||||||||||
net change in client fund obligations | -1,665,241,000 | 2,734,047,000 | 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 | -227,882,000 | ||||||||||||
borrowings under credit facility | 0 | 0 | 0 | 325,000,000 | 0 | |||||||||||||||||||||||||||||||||||||||||||
repayment of credit facility | 0 | 0 | -81,250,000 | -81,250,000 | 0 | 0 | ||||||||||||||||||||||||||||||||||||||||||
repurchases of common shares | -50,000,000 | -100,000,000 | -200,000,000 | -58,558,000 | -82,685,000 | 0 | 0 | -312,000 | -34,679,000 | |||||||||||||||||||||||||||||||||||||||
proceeds from employee stock purchase plan | 0 | 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 | 1,854,000 | 0 | 1,588,000 | 0 | 1,103,000 | 0 | |||||||||||||||||||||||||
taxes paid related to net share settlement of equity awards | -7,931,000 | -9,886,000 | -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 | -5,127,000 | -1,080,000 | |||||||||||
other financing activities | -21,000 | -327,000 | -12,000 | -8,000 | -380,000 | -9,000 | -11,000 | -37,000 | -13,391,000 | |||||||||||||||||||||||||||||||||||||||
net cash from financing activities | -1,723,193,000 | 2,633,368,000 | -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 | -230,674,000 | 76,790,000 | -183,570,000 | -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 | -1,531,510,000 | 2,740,572,000 | -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 | 0 | 0 | 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 | -1,531,510,000 | 2,740,572,000 | 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 | 421,000 | 2,663,000 | 278,000 | 1,901,000 | -489,000 | 960,000 | ||||||||||||||||||||||||||||||||||||||||||
liabilities assumed for acquisitions | 0 | 0 | 0 | -4,000 | 0 | 0 | 0 | 117,000 | 111,000 | |||||||||||||||||||||||||||||||||||||||
supplemental disclosure of cash flow information | ||||||||||||||||||||||||||||||||||||||||||||||||
cash paid for interest | 1,057,000 | 1,126,000 | 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, net of refunds received | ||||||||||||||||||||||||||||||||||||||||||||||||
reconciliation of cash, cash equivalents and funds held for clients' cash and cash equivalents to the consolidated balance sheets | ||||||||||||||||||||||||||||||||||||||||||||||||
cash and cash equivalents | 137,233,000 | -2,697,000 | 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 | -1,668,743,000 | 2,743,269,000 | 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 | -1,531,510,000 | 2,740,572,000 | 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 | |||||||||||||||||||||
cash paid for income taxes | 8,104,000 | 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 | |||||||||||||||||||||||||||||||||
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 | |||||||||||||||||||||||||||||||||||||||||||||
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 | ||||||||||||||||||||||||||||||||||||||||||||||
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 | |||||||||||||||||||||||||||||||||||||||||||||||
benefit from credit losses | ||||||||||||||||||||||||||||||||||||||||||||||||
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 | 28,000 | 128,000 | 69,000 | 28,000 | 411,000 | 133,000 | 102,000 | 66,000 | 211,000 | 3,000 | 12,000 | 30,000 | |||||||||||||||||||||||
provision for doubtful accounts | 77,000 | 169,000 | 63,000 | 108,000 | 82,000 | 30,000 | 147,000 | 73,000 | 72,000 | 4,000 | 69,000 | 15,000 | 50,000 | 25,000 | 29,000 | 42,000 | ||||||||||||||||||||||||||||||||
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 | -13,000 | 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 | 4,981,000 | 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 | 2,018,000 | 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 | 227,882,000 | -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 | ||||||||||||||||||||||||||||||||||||||||||||||||
benefit from doubtful accounts | -13,000 | 1,000 | -17,000 | |||||||||||||||||||||||||||||||||||||||||||||
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 | ||||||||||||||||||||||||||||||||||||||||||||||||
net loss | -2,568,000 | -1,165,000 | -3,435,000 | -6,420,000 | -4,875,000 | |||||||||||||||||||||||||||||||||||||||||||
adjustments to reconcile net loss to net cash from operating activities: | ||||||||||||||||||||||||||||||||||||||||||||||||
prepaid expenses | 1,289,000 | |||||||||||||||||||||||||||||||||||||||||||||||
trade accounts payable | 85,000 | 520,000 | 133,000 | -545,000 | -338,000 | |||||||||||||||||||||||||||||||||||||||||||
net cash provided by operating activities | 1,883,000 | |||||||||||||||||||||||||||||||||||||||||||||||
net cash provided by investing activities | 462,835,000 | |||||||||||||||||||||||||||||||||||||||||||||||
purchase of property and equipment and capitalized internal-use software, accrued but not paid | 1,781,000 | |||||||||||||||||||||||||||||||||||||||||||||||
adjustments to reconcile net loss to net cash provided by operating activities: | ||||||||||||||||||||||||||||||||||||||||||||||||
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 | ||||||||||||||||||||||||||||||||||||||||||||||||
net cash provided by financing activities | ||||||||||||||||||||||||||||||||||||||||||||||||
build-out allowance received from landlord | -320,000 | 375,000 | 582,000 | |||||||||||||||||||||||||||||||||||||||||||||
deferred income tax (benefit) expense | 32,000 | |||||||||||||||||||||||||||||||||||||||||||||||
payments for redemption of common shares | ||||||||||||||||||||||||||||||||||||||||||||||||
capitalized internally developed software costs | ||||||||||||||||||||||||||||||||||||||||||||||||
payments for acquisition | ||||||||||||||||||||||||||||||||||||||||||||||||
adjustments to reconcile net income to net cash provided by operating activities: | ||||||||||||||||||||||||||||||||||||||||||||||||
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 |