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Amortized Cost | Gross Unrealized Holding Losses | Fair Value | |||||||||
As of September 30, 2016 | |||||||||||
Available-for-sale: | |||||||||||
Foreign deposits | $ | 1,521 | $ | — | $ | 1,521 | |||||
Municipal bond | 1,000 | (21 | ) | 979 | |||||||
$ | 2,521 | $ | (21 | ) | $ | 2,500 | |||||
Short-term investments: | |||||||||||
U.S. Treasury securities | $ | 5,786 | $ | — | $ | 5,786 | |||||
Certificates of deposit | 708 | — | 708 | ||||||||
U.S. government funds | 22,226 | — | 22,226 | ||||||||
$ | 28,720 | $ | — | $ | 28,720 | ||||||
Amortized Cost | Gross Unrealized Holding Losses | Fair Value | |||||||||
As of December 31, 2015 | |||||||||||
Available-for-sale: | |||||||||||
Foreign deposits | $ | 1,442 | $ | — | $ | 1,442 | |||||
Municipal bond | 1,000 | (54 | ) | 946 | |||||||
$ | 2,442 | $ | (54 | ) | $ | 2,388 | |||||
Short-term investments: | |||||||||||
U.S. Treasury securities | $ | 5,683 | $ | — | $ | 5,683 | |||||
Certificates of deposit | 1,551 | — | 1,551 | ||||||||
U.S. government funds | 18,054 | — | 18,054 | ||||||||
$ | 25,288 | $ | — | $ | 25,288 |
September 30, 2016 | |||||||
Amortized Cost | Fair Value | ||||||
Available-for-sale: | |||||||
Due under one year | $ | — | $ | — | |||
Due after one year through five years | 1,521 | 1,521 | |||||
Due after five years through ten years | 1,000 | 979 | |||||
Due after ten years | — | — | |||||
$ | 2,521 | $ | 2,500 |
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• | Level 1 inputs: Unadjusted quoted prices in active markets for identical assets or liabilities accessible to the reporting entity at the measurement date. |
• | Level 2 inputs: Valuations based on observable inputs other than quoted prices included in Level 1, such as quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets and liabilities in markets that are not active, or other inputs that are observable or can be corroborated by observable market data. |
• | Level 3 inputs: Unobservable inputs for the asset or liability used to measure fair value to the extent that observable inputs are not available, thereby allowing for situations in which there is little, if any, market activity for the asset or liability at the measurement date. |
As of September 30, 2016 | |||||||||||||||
Fair Value | Level 1 | Level 2 | Level 3 | ||||||||||||
Assets | |||||||||||||||
Foreign deposits | $ | 1,521 | $ | 1,521 | $ | — | $ | — | |||||||
Municipal bond | 979 | — | 979 | — | |||||||||||
Money market funds | 7,325 | 7,325 | — | — | |||||||||||
Total | $ | 9,825 | $ | 8,846 | $ | 979 | $ | — | |||||||
As of December 31, 2015 | |||||||||||||||
Fair Value | Level 1 | Level 2 | Level 3 | ||||||||||||
Assets | |||||||||||||||
Foreign deposits | $ | 1,442 | $ | 1,442 | $ | — | $ | — | |||||||
Municipal bond | 946 | — | 946 | — | |||||||||||
Money market funds | 7,545 | 7,545 | — | — | |||||||||||
Total | $ | 9,933 | $ | 8,987 | $ | 946 | $ | — |
• | Investment securities: Long-term investments classified as available-for-sale are measured using quoted market prices when quoted market prices are available. If quoted market prices in active markets for identical assets are not available to determine fair value, then the Company uses quoted prices of similar instruments and other significant inputs derived from observable market data obtained from third-party data providers. Short-term investments are carried at amortized cost and the fair value is disclosed in Note 3. Fair value is determined in the same manner as available-for-sale securities and is considered a Level 2 measurement. |
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Number Of Options | Weighted-Average Exercise Price | Aggregate Intrinsic Value | ||||||||
(in thousands) | ||||||||||
December 31, 2015 | 4,871,949 | $ | 3.71 | $ | 29,644 | |||||
Granted | 630,773 | 13.24 | ||||||||
Exercised | (894,572 | ) | 3.06 | 9,269 | ||||||
Forfeited | (253,656 | ) | 7.79 | |||||||
September 30, 2016 | 4,354,494 | 4.99 | 51,855 | |||||||
Vested and exercisable at September 30, 2016 | 3,197,604 | $ | 2.95 | $ | 44,595 |
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||
2016 | 2015 | 2016 | 2015 | ||||||||||||
(in thousands) | |||||||||||||||
Claims expenses | $ | 74 | $ | 58 | $ | 189 | $ | 160 | |||||||
Other cost of revenue | 9 | 10 | 26 | 35 | |||||||||||
Sales and marketing | 172 | 102 | 419 | 342 | |||||||||||
Technology and development | 67 | 97 | 158 | 311 | |||||||||||
General and administrative | 454 | 482 | 1,423 | 1,501 | |||||||||||
Total stock-based compensation expense | $ | 776 | $ | 749 | $ | 2,215 | $ | 2,349 |
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Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||
2016 | 2015 | 2016 | 2015 | ||||||||||||
Revenue: | |||||||||||||||
Subscription business | $ | 44,629 | $ | 34,420 | $ | 125,934 | $ | 96,684 | |||||||
Other business | 3,730 | 3,445 | 10,956 | 10,078 | |||||||||||
48,359 | 37,865 | 136,890 | 106,762 | ||||||||||||
Claims expenses: | |||||||||||||||
Subscription business | 32,088 | 24,455 | 90,709 | 69,352 | |||||||||||
Other business | 2,165 | 2,149 | 6,614 | 6,090 | |||||||||||
34,253 | 26,604 | 97,323 | 75,442 | ||||||||||||
Other cost of revenue: | |||||||||||||||
Subscription business | 4,344 | 3,691 | 12,084 | 10,220 | |||||||||||
Other business | 1,262 | 979 | 3,413 | 3,141 | |||||||||||
5,606 | 4,670 | 15,497 | 13,361 | ||||||||||||
Gross profit: | |||||||||||||||
Subscription business | 8,197 | 6,274 | 23,141 | 17,112 | |||||||||||
Other business | 303 | 317 | 929 | 847 | |||||||||||
8,500 | 6,591 | 24,070 | 17,959 | ||||||||||||
Sales and marketing: | |||||||||||||||
Subscription business | 3,829 | 4,112 | 11,140 | 11,240 | |||||||||||
Other business | 63 | 16 | 156 | 72 | |||||||||||
3,892 | 4,128 | 11,296 | 11,312 | ||||||||||||
Technology and development | 2,339 | 3,005 | 6,790 | 8,683 | |||||||||||
General and administrative | 3,811 | 4,067 | 11,028 | 11,760 | |||||||||||
Operating loss | $ | (1,542 | ) | $ | (4,609 | ) | $ | (5,044 | ) | $ | (13,796 | ) |
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||
2016 | 2015 | 2016 | 2015 | ||||||||||||
United States | $ | 38,799 | $ | 30,009 | $ | 110,024 | $ | 83,607 | |||||||
Canada | 9,560 | 7,856 | 26,866 | 23,155 | |||||||||||
Total revenue | $ | 48,359 | $ | 37,865 | $ | 136,890 | $ | 106,762 |
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Amortized Cost | Gross Unrealized Holding Losses | Fair Value | |||||||||
As of September 30, 2016 | |||||||||||
Available-for-sale: | |||||||||||
Foreign deposits | $ | 1,521 | $ | — | $ | 1,521 | |||||
Municipal bond | 1,000 | (21 | ) | 979 | |||||||
$ | 2,521 | $ | (21 | ) | $ | 2,500 | |||||
Short-term investments: | |||||||||||
U.S. Treasury securities | $ | 5,786 | $ | — | $ | 5,786 | |||||
Certificates of deposit | 708 | — | 708 | ||||||||
U.S. government funds | 22,226 | — | 22,226 | ||||||||
$ | 28,720 | $ | — | $ | 28,720 | ||||||
Amortized Cost | Gross Unrealized Holding Losses | Fair Value | |||||||||
As of December 31, 2015 | |||||||||||
Available-for-sale: | |||||||||||
Foreign deposits | $ | 1,442 | $ | — | $ | 1,442 | |||||
Municipal bond | 1,000 | (54 | ) | 946 | |||||||
$ | 2,442 | $ | (54 | ) | $ | 2,388 | |||||
Short-term investments: | |||||||||||
U.S. Treasury securities | $ | 5,683 | $ | — | $ | 5,683 | |||||
Certificates of deposit | 1,551 | — | 1,551 | ||||||||
U.S. government funds | 18,054 | — | 18,054 | ||||||||
$ | 25,288 | $ | — | $ | 25,288 |
September 30, 2016 | |||||||
Amortized Cost | Fair Value | ||||||
Available-for-sale: | |||||||
Due under one year | $ | — | $ | — | |||
Due after one year through five years | 1,521 | 1,521 | |||||
Due after five years through ten years | 1,000 | 979 | |||||
Due after ten years | — | — | |||||
$ | 2,521 | $ | 2,500 |
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As of September 30, 2016 | |||||||||||||||
Fair Value | Level 1 | Level 2 | Level 3 | ||||||||||||
Assets | |||||||||||||||
Foreign deposits | $ | 1,521 | $ | 1,521 | $ | — | $ | — | |||||||
Municipal bond | 979 | — | 979 | — | |||||||||||
Money market funds | 7,325 | 7,325 | — | — | |||||||||||
Total | $ | 9,825 | $ | 8,846 | $ | 979 | $ | — | |||||||
As of December 31, 2015 | |||||||||||||||
Fair Value | Level 1 | Level 2 | Level 3 | ||||||||||||
Assets | |||||||||||||||
Foreign deposits | $ | 1,442 | $ | 1,442 | $ | — | $ | — | |||||||
Municipal bond | 946 | — | 946 | — | |||||||||||
Money market funds | 7,545 | 7,545 | — | — | |||||||||||
Total | $ | 9,933 | $ | 8,987 | $ | 946 | $ | — |
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Number Of Options | Weighted-Average Exercise Price | Aggregate Intrinsic Value | ||||||||
(in thousands) | ||||||||||
December 31, 2015 | 4,871,949 | $ | 3.71 | $ | 29,644 | |||||
Granted | 630,773 | 13.24 | ||||||||
Exercised | (894,572 | ) | 3.06 | 9,269 | ||||||
Forfeited | (253,656 | ) | 7.79 | |||||||
September 30, 2016 | 4,354,494 | 4.99 | 51,855 | |||||||
Vested and exercisable at September 30, 2016 | 3,197,604 | $ | 2.95 | $ | 44,595 |
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||
2016 | 2015 | 2016 | 2015 | ||||||||||||
(in thousands) | |||||||||||||||
Claims expenses | $ | 74 | $ | 58 | $ | 189 | $ | 160 | |||||||
Other cost of revenue | 9 | 10 | 26 | 35 | |||||||||||
Sales and marketing | 172 | 102 | 419 | 342 | |||||||||||
Technology and development | 67 | 97 | 158 | 311 | |||||||||||
General and administrative | 454 | 482 | 1,423 | 1,501 | |||||||||||
Total stock-based compensation expense | $ | 776 | $ | 749 | $ | 2,215 | $ | 2,349 |
Number Of Options | Weighted-Average Exercise Price | Aggregate Intrinsic Value | ||||||||
(in thousands) | ||||||||||
December 31, 2015 | 4,871,949 | $ | 3.71 | $ | 29,644 | |||||
Granted | 630,773 | 13.24 | ||||||||
Exercised | (894,572 | ) | 3.06 | 9,269 | ||||||
Forfeited | (253,656 | ) | 7.79 | |||||||
September 30, 2016 | 4,354,494 | 4.99 | 51,855 | |||||||
Vested and exercisable at September 30, 2016 | 3,197,604 | $ | 2.95 | $ | 44,595 |
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||
2016 | 2015 | 2016 | 2015 | ||||||||||||
(in thousands) | |||||||||||||||
Claims expenses | $ | 74 | $ | 58 | $ | 189 | $ | 160 | |||||||
Other cost of revenue | 9 | 10 | 26 | 35 | |||||||||||
Sales and marketing | 172 | 102 | 419 | 342 | |||||||||||
Technology and development | 67 | 97 | 158 | 311 | |||||||||||
General and administrative | 454 | 482 | 1,423 | 1,501 | |||||||||||
Total stock-based compensation expense | $ | 776 | $ | 749 | $ | 2,215 | $ | 2,349 |
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Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||
2016 | 2015 | 2016 | 2015 | ||||||||||||
Revenue: | |||||||||||||||
Subscription business | $ | 44,629 | $ | 34,420 | $ | 125,934 | $ | 96,684 | |||||||
Other business | 3,730 | 3,445 | 10,956 | 10,078 | |||||||||||
48,359 | 37,865 | 136,890 | 106,762 | ||||||||||||
Claims expenses: | |||||||||||||||
Subscription business | 32,088 | 24,455 | 90,709 | 69,352 | |||||||||||
Other business | 2,165 | 2,149 | 6,614 | 6,090 | |||||||||||
34,253 | 26,604 | 97,323 | 75,442 | ||||||||||||
Other cost of revenue: | |||||||||||||||
Subscription business | 4,344 | 3,691 | 12,084 | 10,220 | |||||||||||
Other business | 1,262 | 979 | 3,413 | 3,141 | |||||||||||
5,606 | 4,670 | 15,497 | 13,361 | ||||||||||||
Gross profit: | |||||||||||||||
Subscription business | 8,197 | 6,274 | 23,141 | 17,112 | |||||||||||
Other business | 303 | 317 | 929 | 847 | |||||||||||
8,500 | 6,591 | 24,070 | 17,959 | ||||||||||||
Sales and marketing: | |||||||||||||||
Subscription business | 3,829 | 4,112 | 11,140 | 11,240 | |||||||||||
Other business | 63 | 16 | 156 | 72 | |||||||||||
3,892 | 4,128 | 11,296 | 11,312 | ||||||||||||
Technology and development | 2,339 | 3,005 | 6,790 | 8,683 | |||||||||||
General and administrative | 3,811 | 4,067 | 11,028 | 11,760 | |||||||||||
Operating loss | $ | (1,542 | ) | $ | (4,609 | ) | $ | (5,044 | ) | $ | (13,796 | ) |
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||
2016 | 2015 | 2016 | 2015 | ||||||||||||
United States | $ | 38,799 | $ | 30,009 | $ | 110,024 | $ | 83,607 | |||||||
Canada | 9,560 | 7,856 | 26,866 | 23,155 | |||||||||||
Total revenue | $ | 48,359 | $ | 37,865 | $ | 136,890 | $ | 106,762 |
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