AppFolio (APPF) 10-Q 8 Aug 16 2016 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information Document - shares	6 Months Ended
	Jun. 30, 2016	Jul. 25, 2016
Document Information [Line Items]
Entity Registrant Name	APPFOLIO INC
Entity Central Index Key	1,433,195
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Document Type	10-Q
Document Period End Date	Jun. 30, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q2
Amendment Flag	false
Class A common stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		11,021,812
Class B common stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		22,624,442

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Current assets
Cash and cash equivalents	$ 10,963	$ 12,063
Investment securities—current	11,234	10,235
Accounts receivable, net	3,045	2,048
Prepaid expenses and other current assets	3,807	3,160
Total current assets	29,049	27,506
Investment securities—noncurrent	28,977	34,417
Property and equipment, net	7,143	6,107
Capitalized software, net	12,804	10,022
Goodwill	6,737	6,737
Intangible assets, net	3,808	4,516
Other assets	1,236	1,176
Total assets	89,754	90,481
Current liabilities
Accounts payable	1,090	2,369
Accrued employee expenses	6,235	5,159
Accrued expenses	3,751	3,340
Deferred revenue	6,101	4,953
Other current liabilities	1,631	1,084
Total current liabilities	18,808	16,905
Other liabilities	1,865	879
Total liabilities	20,673	17,784
Commitments and contingencies
Stockholders’ equity:
Preferred stock, $0.0001 par value, 25,000 authorized and no shares issued and outstanding as of June 30, 2016 and December 31, 2015	0	0
Additional paid-in capital	143,406	141,528
Accumulated other comprehensive income (loss)	220	(153)
Accumulated deficit	(74,549)	(68,682)
Total stockholders’ equity	69,081	72,697
Total liabilities and stockholders’ equity	89,754	90,481
Class A common stock, $0.0001 par value, 250,000 shares authorized as of June 30, 2016 and December 31, 2015; 11,018 and 9,005 shares issued and outstanding as of June 30, 2016 and December 31, 2015, respectively;
Stockholders’ equity:
Common stock	1	1
Class B common stock, $0.0001 par value, 50,000 shares authorized as of June 30, 2016 and December 31, 2015; 22,625 and 24,541 shares issued and outstanding as of June 30, 2016 and December 31, 2015, respectively;
Stockholders’ equity:
Common stock	$ 3	$ 3

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2016	Dec. 31, 2015
Preferred stock, par value (usd per share)	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	25,000,000	25,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Class A common stock
Common stock, par value (usd per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized	250,000,000	250,000,000
Common stock, shares issued	11,018,000	9,005,000
Common stock, shares outstanding	11,018,000	9,005,000
Class B common stock
Common stock, par value (usd per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized	50,000,000	50,000,000
Common stock, shares issued	22,665,000	24,541,000
Common stock, shares outstanding	22,665,000	24,541,000

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Income Statement [Abstract]
Revenue	$ 26,203	$ 18,425	$ 49,414	$ 34,273
Costs and operating expenses:
Cost of revenue (exclusive of depreciation and amortization)	11,212	8,109	21,742	15,174
Sales and marketing	7,567	6,239	15,118	11,948
Research and product development	3,024	2,154	6,067	4,163
General and administrative	4,389	3,707	7,938	7,099
Depreciation and amortization	2,359	1,431	4,476	2,614
Total costs and operating expenses	28,551	21,640	55,341	40,998
Loss from operations	(2,348)	(3,215)	(5,927)	(6,725)
Other income (expense), net	2	(5)	(22)	(7)
Interest income (expense), net	95	(243)	119	(275)
Loss before provision for income taxes	(2,251)	(3,463)	(5,830)	(7,007)
Provision for (benefit from) income taxes	13	(63)	37	11
Net loss	$ (2,264)	$ (3,400)	$ (5,867)	$ (7,018)
Net loss per share, basic and diluted (usd per share)	$ (0.07)	$ (0.36)	$ (0.18)	$ (0.77)
Weighted average common shares outstanding, basic and diluted (shares)	33,523	9,328	33,493	9,122

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Comprehensive Loss (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Statement of Comprehensive Income [Abstract]
Net loss	$ (2,264)	$ (3,400)	$ (5,867)	$ (7,018)
Other comprehensive income:
Net changes in unrealized gains on investment securities	73	0	373	0
Comprehensive loss	$ (2,191)	$ (3,400)	$ (5,494)	$ (7,018)

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Stockholders' Equity (Deficit) - 6 months ended Jun. 30, 2016 - USD ($) shares in Thousands, $ in Thousands	Total	Common StockClass A common stock	Common StockClass B common stock	Additional Paid-in Capital	Accumulated Other Comprehensive (Loss) Income	Accumulated Deficit
Beginning balance at Dec. 31, 2015	$ 72,697	$ 1	$ 3	$ 141,528	$ (153)	$ (68,682)
Beginning balance (shares) at Dec. 31, 2015		9,005	24,541
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of stock options	153			153
Exercise of stock options (shares)		74	1
Stock-based compensation	1,614			1,614
Vesting of early exercised shares	111			111
Conversion of convertible preferred stock in connection with initial public offering	0		$ 0	0
Issuance of restricted stock (shares)		22
Issuance of restricted stock	0	$ 0		0
Conversion of convertible preferred stock in connection with our public offering (shares)		1,917	(1,917)
Unrealized loss on investment securities	373				373
Net loss	(5,867)
Ending balance at Jun. 30, 2016	$ 69,081	$ 1	$ 3	$ 143,406	$ 220	$ (74,549)
Ending balance (shares) at Jun. 30, 2016		11,018	22,625

Condensed Consolidated Stateme7

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Cash from operating activities
Net loss	$ (5,867)	$ (7,018)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation and amortization	4,476	2,614
Purchased investment premium, net of amortization	95	0
Amortization of deferred financing costs	32	31
Loss on disposal of property and equipment	32	13
Noncash interest expense	0	223
Stock-based compensation	1,555	345
Lease abandonment	60	0
Changes in operating assets and liabilities:
Accounts receivable	(996)	(1,222)
Prepaid expenses and other current assets	(647)	(608)
Other assets	(92)	(83)
Accounts payable	(571)	883
Accrued employee expenses	906	1,064
Accrued expenses	751	560
Deferred revenue	1,148	475
Other liabilities	1,495	(84)
Net cash provided by (used in) operating activities	2,377	(2,807)
Cash from investing activities
Purchases of property and equipment	(3,161)	(1,510)
Additions to capitalized software	(5,159)	(3,155)
Purchases of investment securities	(16,685)	0
Sales and calls of investment securities	19,074	0
Maturities of investment securities	2,330	0
Cash paid in business acquisition, net of cash acquired	0	(4,039)
Purchases of intangible assets	0	(11)
Net cash used in investing activities	(3,601)	(8,715)
Cash from financing activities
Proceeds from stock option exercises	153	318
Proceeds from issuance of restricted stock	0	141
Proceeds from issuance of options	0	208
Principal payments under capital lease obligations	(15)	(15)
Proceeds from the initial public offering, net of underwriting discounts and commissions	0	69,192
Payments of initial public offering costs	0	(807)
Payment of contingent consideration	0	(2,429)
Proceeds from issuance of debt	57	10,000
Principal payments on debt	(71)	(42)
Payment of debt issuance costs	0	(532)
Net cash provided by financing activities	124	76,034
Net (decrease) increase in cash and cash equivalents	(1,100)	64,512
Cash and cash equivalents
Beginning of period	12,063	5,412
End of period	10,963	69,924
Noncash investing and financing activities
Purchases of property and equipment included in accounts payable and accrued expenses	172	120
Additions of capitalized software included in accrued employee expenses	459	240
Stock-based compensation capitalized for software development	177	67
Debt issuance and other financing costs accrued, not paid	0	13
Initial public offering costs included in accrued expenses	0	3,317
Conversion of convertible preferred stock into common stock in connection with the initial public offering	$ 0	$ 63,166

Nature of Business

Nature of Business	6 Months Ended
	Jun. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Business	Nature of Business Overview AppFolio, Inc. (“we” or “AppFolio”) provides industry-specific, cloud-based software solutions for small and medium-sized businesses (“SMBs”) in the property management and legal industries. Our platform is designed to be the system of record to automate essential business processes and the system of engagement to enhance business interactions between our customers and their clients and vendors. Our mobile-optimized software solutions have a user-friendly interface across multiple devices, enabling our customers to work at any time and from anywhere. Our property management software provides small and medium-sized property managers with an end-to-end solution to their business needs, enabling them to manage properties quickly and easily in a single, integrated environment. Our legal software provides solo practitioners and small law firms with a streamlined practice and case management solution, allowing them to manage their practices and case load within a flexible system. We also offer optional, but often mission-critical, Value+ services, such as our professionally designed websites, and electronic payment services which are seamlessly built into our core solutions.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2016
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Basis of Presentation and Significant Accounting Policies The accompanying unaudited Condensed Consolidated Financial Statements were prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information. Certain information and disclosures normally included in consolidated financial statements prepared in accordance with GAAP have been condensed or omitted. Accordingly, these Condensed Consolidated Financial Statements should be read in conjunction with our consolidated financial statements and the related notes included in our Annual Report filed with the SEC on February 29, 2016. Our unaudited interim Condensed Consolidated Financial Statements have been prepared on a basis consistent with that used to prepare our audited annual consolidated financial statements and include, in the opinion of management, all adjustments, consisting of normal and recurring items, necessary for the fair statement of the Condensed Consolidated Financial Statements. The operating results for the three and six months ended June 30, 2016 are not necessarily indicative of the results expected for the full year ending December 31, 2016 . Changes in Accounting Policies Except as described below, there have been no significant changes in our accounting policies from those disclosed in our annual consolidated financial statements and the related notes included in our Annual Report. Stock-Based Compensation During the three and six months ended June 30, 2016, we granted performance based stock options (" PSOs") and performance based restricted stock units ("PSUs"). For additional information regarding the PSOs and PSUs granted refer to Note 7, Stock-Based Compensation . Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the dates of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ materially from those estimates. On an ongoing basis, management evaluates its estimates based on historical data and experience, as well as various other factors that management believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying value of assets and liabilities that are not readily apparent from other sources. Net Loss per Share The following table presents a reconciliation of our weighted average number of Class A and Class B common shares used to compute net loss per share (in thousands): Three Months Ended Six Months Ended 2016 2015 2016 2015 Weighted average shares outstanding 33,610 9,474 33,591 9,278 Less: Weighted average unvested restricted shares subject to repurchase 87 146 98 156 Weighted average number of shares used to compute basic and diluted net loss per share 33,523 9,328 33,493 9,122 Because we reported net losses for all periods presented, all potentially dilutive common stock equivalents are anti-dilutive for those periods and have been excluded from the calculation of net loss per share. The following table presents the number of anti-dilutive Class A and Class B common shares excluded from the calculation of diluted net loss per share as of June 30, 2016 and 2015 (in thousands): June 30, 2016 2015 Options to purchase common stock 1,824 1,141 Unvested restricted stock awards 76 158 Unvested restricted stock units 475 — Contingent restricted stock units (1) 49 — Total shares excluded from net loss per share attributable to common stockholders 2,424 1,299 (1) The reported shares are based on 49,000 shares with a fixed price restricted stock unit (“RSU”) commitment for which the number of shares has not been determined at the grant date. The 49,000 shares included in the table above are based on the closing price of our stock at June 30, 2016 divided by the fixed price commitment to issue shares in the future. For additional information regarding the RSUs granted refer to Note 7, Stock-Based Compensation . The diluted net loss per common share was the same for our Class A and Class B common shares because they are entitled to the same liquidation and dividend rights. Recent Accounting Pronouncements Under the Jumpstart our Business Startups Act (the “JOBS Act”), we meet the definition of an emerging growth company. We have irrevocably elected to opt out of the extended transition period for complying with new or revised accounting standards pursuant to Section 107(b) of the JOBS Act. In May 2014, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2014-09, Revenue from Contracts with Customers (“ASU 2014-09”), which requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. ASU 2014-09 will replace most existing revenue recognition guidance in GAAP when it becomes effective. ASU 2014-09 is effective on January 1, 2018. Early adoption is permitted as of January 1, 2017. The standard permits the use of either a retrospective or cumulative effect transition method. We have not determined which transition method we will adopt, nor have we determined the effect of this guidance on our financial condition, results of operations, cash flows or disclosures. In February 2016, the FASB issued ASU No. 2016-02, "Leases (Topic 842)" ("ASU 2016-02"). Under ASU 2016-02, an entity will be required to recognize right-of-use assets and lease liabilities on its balance sheet and disclose key information about leasing arrangements. ASU 2016-02 offers specific accounting guidance for a lessee, a lessor and sale and leaseback transactions. Lessees and lessors are required to disclose qualitative and quantitative information about leasing arrangements to enable a user of the financial statements to assess the amount, timing and uncertainty of cash flows arising from leases. For public companies, ASU 2016-02 is effective for annual reporting periods beginning after December 15, 2018, including interim periods within that reporting period, and requires a modified retrospective adoption, with early adoption permitted. We will adopt this guidance beginning with its first quarter ending March 31, 2019. We have not determined the effect of this guidance on our financial condition, results of operations, cash flows or disclosures. In March 2016, the FASB issued ASU 2016-08, "Revenue from Contracts with Customers (Topic 606), Principal versus Agent Considerations (Reporting of Revenue Gross versus Net) ("ASU 2016-08"), which provides additional guidance to improve the operability and understandability of the implementation guidance on principal versus agent considerations and provides additional illustrative examples to assist with the application of the guidance. The amendment does not change the core principles in Topic 606. ASU 2016-08 is effective on January 1, 2018 with the adoption of ASU 2014-09. Early adoption is permitted as of January 1, 2017. We have not determined the effect of this guidance on our financial condition, results of operations, cash flows or disclosures. In March 2016, the FASB issued ASU No. 2016-09, "Compensation - Stock Compensation (Topic 781), Improvements to Employee Share-Based Payment Accounting ("ASU 2106-09"), which amends and simplifies the accounting for share-based payment awards in three areas; (1) income tax consequences, (2) classification of awards as either equity or liabilities, and (3) classification on the statement of cash flows. For public companies, ASU 2016-09 is effective for annual periods beginning after December 15, 2016, and interim periods within those annual periods. Early adoption is permitted for any interim or annual period. We have not determined the effect of this guidance on our financial condition, results of operations, cash flows or disclosures. In April 2016, the FASB issued ASU No. 2016-10, "Revenue from Contracts with Customers (Topic 606), Identifying Performance Obligations and Licensing ("ASU 2016-10"), which provides additional guidance on identifying performance obligations and also to improve the operability and understandability of the licensing implementation guidance. The amendment does not change the core principles in Topic 606. ASU 2016-10 is effective on January 1, 2018 with the adoption of ASU 2014-09. Early adoption is permitted as of January 1, 2017. We have not determined the effect of this guidance on our financial condition, results of operations, cash flows or disclosures. In May 2016, the FASB issued ASU No. 2016-12, "Revenue from Contracts with Customers (Topic 606), Narrow-Scope Improvements and Practical Expedients ("ASU 2016-12"), which clarifies the collectibility criterion and transition guidance for contracts for which substantially all revenue was recognized under legacy accounting guidance. The amendment does not change the core principles in Topic 606. ASU 2016-12 is effective on January 1, 2018 with the adoption of ASU 2014-09. Early adoption is permitted as of January 1, 2017. We have not determined the effect of this guidance on our financial condition, results of operations, cash flows or disclosures. In June 2016, he FASB issued ASU No. 2016-13, " Financial Instruments -Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments ("ASU 2016-13"), which amends the current accounting guidance and requires all expected losses based on historical experience, current conditions and reasonable and supportable forecasts. This guidance amends the accounting for credit losses for available-for-sale securities and purchased financial assets with credit deterioration. ASU 2016-13 is effective for annual periods beginning after December 15, 2019, and interim periods within those annual periods. Early adoption is permitted for any interim or annual period after December 15, 2018. We have not determined the effect of this guidance on our financial condition, results of operations, cash flows or disclosures.

Investment Securities and Fair

Investment Securities and Fair Value Measurements	6 Months Ended
	Jun. 30, 2016
Fair Value Disclosures [Abstract]
Investment Securities and Fair Value Measurements	Investment Securities and Fair Value Measurements Investment Securities Investment securities classified as available-for-sale consist of the following at June 30, 2016 and December 31, 2015 (in thousands): June 30, 2016 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value Corporate bonds $ 31,766 $ 188 $ (1 ) $ 31,953 Agency securities 2,000 — — 2,000 Certificates of deposit 6,225 33 — 6,258 Total available-for-sale investment securities $ 39,991 $ 221 $ (1 ) $ 40,211 December 31, 2015 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value Corporate bonds $ 30,568 $ — $ (126 ) $ 30,442 Agency securities 8,012 — (12 ) 8,000 Certificates of deposit 6,225 — (15 ) 6,210 Total available-for-sale investment securities $ 44,805 $ — $ (153 ) $ 44,652 We had certain investment securities in an unrealized loss position at June 30, 2016 and December 31, 2015, and we have held these securities for less than twelve months. These unrealized loss positions are considered temporary and there were no impairments considered "other-than-temporary" as it is more likely than not we will hold the securities until maturity or a recovery of the cost basis. At June 30, 2016 and December 31, 2015 , the contractual maturities of our investments did not exceed 36 months . The fair values of available-for-sale investments, by remaining contractual maturity, are as follows (in thousands): June 30, 2016 December 31, 2015 Amortized Cost Estimated Fair Value Amortized Cost Estimated Fair Value Due in 1 year or less $ 11,228 $ 11,234 $ 10,249 $ 10,235 Due after 1 year through 3 years 28,763 28,977 34,557 34,417 Total available-for-sale investment securities $ 39,991 $ 40,211 $ 44,806 $ 44,652 During the six months ended June 30, 2016 , we had sales, calls and maturities of investment securities, as follows (in thousands): Six months ended June 30, 2016 Gross Realized Gains Gross Realized Losses Gross Proceeds from Sales and Calls Gross Proceeds from Maturities Corporate bonds $ 1 $ — $ 5,011 $ — Agency securities 5 — 9,063 1,500 Treasury bills — — 5,000 830 $ 6 $ — $ 19,074 $ 2,330 Fair Value Measurements Recurring Fair Value Measurements The following tables summarize our financial assets and liabilities measured at fair value on a recurring basis as of June 30, 2016 and December 31, 2015 by level within the fair value hierarchy. Financial assets and financial liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement (in thousands): June 30, 2016 Level 1 Level 2 Level 3 Total Fair Cash equivalents: Money market funds $ 143 $ — $ — $ 143 Available-for-sale - investment securities: Corporate bonds — 31,953 — 31,953 Agency securities — 2,000 — 2,000 Certificates of deposit 6,258 — — 6,258 Total Assets $ 6,401 $ 33,953 $ — $ 40,354 December 31, 2015 Level 1 Level 2 Level 3 Total Fair Cash equivalents: Money market funds $ 7,102 $ — $ — $ 7,102 Available-for-sale - investment securities: Corporate bonds — 30,442 — 30,442 Agency securities — 8,000 — 8,000 Certificates of deposit 6,210 — — 6,210 Total Assets $ 13,312 $ 38,442 $ — $ 51,754 The carrying amounts of cash equivalents, restricted cash, accounts receivable, accounts payable and accrued liabilities approximate fair value because of the short maturity of these items. There were no changes to our valuation techniques used to measure asset and liability fair values on a recurring basis during the six months ended June 30, 2016 . The valuation techniques for the items in the table, above are as follows: Cash and Cash Equivalents As of June 30, 2016 and December 31, 2015 , cash and cash equivalents include cash invested in money market funds. Market prices are based on market prices for identical assets. Available-for-Sale - Investment Securities The fair value of our investment securities is based on pricing determined using inputs other than quoted prices that are observable either directly or indirectly such as yield curve, volatility factors, credit spreads, default rates, loss severity, current market and contractual prices for the underlying instruments or debt, broker and dealer quotes, as well as other relevant economic measures. Contingent Consideration Contingent consideration payable in connection with acquisitions is measured at fair value each period and is based on significant inputs not observable in the market, which represents a Level 3 measurement within the fair value hierarchy. The valuation of contingent consideration uses assumptions we believe would be made by a market participant. We assessed these estimates on an on-going basis as additional data impacting the assumptions became available. Changes in the fair value of contingent consideration related to updated assumptions and estimates were recognized within general and administrative expense in the condensed consolidated statements of operations. We determined the fair value of the contingent consideration using the probability weighted discounted cash flow method. The significant inputs used in the fair value measurement of contingent consideration were the probability of achieving revenue thresholds and determining discount rates. The following table summarizes the changes in contingent consideration liability (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 Fair value, at beginning of period $ — $ 2,429 $ — $ 2,429 Payment of contingent consideration — (2,429 ) — (2,429 ) Fair value, at end of period $ — $ — $ — $ — The contingent consideration liability was recorded in other current liabilities in the consolidated balance sheets as of December 31, 2014. On May 6, 2015, we paid the final earn-out payment in the amount of $2.4 million . Non-Recurring Fair Value Measurements Certain assets, including goodwill, intangible assets and our note receivable with SecureDocs are also subject to measurement at fair value on a non-recurring basis using Level 3 measurement when they are deemed to be impaired as a result of an impairment review. For the three and six months ended June 30, 2016 and 2015, no impairments were identified on those assets required to be measured at fair value on a non-recurring basis.

Internal-Use Software Developme

Internal-Use Software Development Costs	6 Months Ended
	Jun. 30, 2016
Research and Development [Abstract]
Internal-Use Software Development Costs	Internal-Use Software Development Costs Internal-use software development costs were as follows (in thousands): June 30, December 31, Internal use software development costs, gross $ 27,283 $ 21,894 Less: Accumulated amortization (14,479 ) (11,872 ) Internal use software development costs, net $ 12,804 $ 10,022 Capitalized software development costs were $3.0 million and $1.9 million for the three months ended June 30, 2016 and 2015 , respectively and were $5.4 million and $3.3 million for the six months ended June 30, 2016 and 2015 , respectively. Amortization expense with respect to software development costs totaled $1.4 million and $0.8 million for the three months ended June 30, 2016 and 2015 , respectively and $2.7 million and $1.4 million for the six months ended June 30, 2016 and 2015 , respectively.

Intangible Assets

Intangible Assets	6 Months Ended
	Jun. 30, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets	Intangible Assets Intangible assets consisted of the following as of June 30, 2016 and December 31, 2015 (in thousands, except years): June 30, 2016 Gross Carrying Accumulated Net Carrying Weighted Customer relationships $ 790 $ (313 ) $ 477 5.0 Technology 4,811 (2,669 ) 2,142 6.0 Trademarks 930 (354 ) 576 9.0 Partner relationships 680 (283 ) 397 3.0 Non-compete agreements 40 (17 ) 23 3.0 Domain names 274 (221 ) 53 5.0 Patents 282 (142 ) 140 5.0 $ 7,807 $ (3,999 ) $ 3,808 5.9 December 31, 2015 Gross Carrying Value Accumulated Amortization Net Carrying Value Weighted Average Useful Life in Years Customer relationships $ 790 $ (234 ) $ 556 5.0 Technology 4,811 (2,268 ) 2,543 6.0 Trademarks 930 (293 ) 637 9.0 Partner relationships 680 (170 ) 510 3.0 Non-compete agreements 40 (10 ) 30 3.0 Domain names 274 (199 ) 75 5.0 Patents 286 (121 ) 165 5.0 $ 7,811 $ (3,295 ) $ 4,516 5.9 Amortization expense for the three months ended June 30, 2016 and 2015 was $0.4 million and $0.4 million , respectively and $0.7 million and $0.6 million for the six months ended June 30, 2016 and 2015 , respectively. A summary of the activity within our intangible assets since December 31, 2015 is as follows (in thousands): Intangible assets, net at December 31, 2015 $ 4,516 Disposals (4 ) Amortization (704 ) Intangible assets, net at June 30, 2016 $ 3,808

Commitment and Contingencies

Commitment and Contingencies	6 Months Ended
	Jun. 30, 2016
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Lease Obligations As of June 30, 2016 , we had operating lease obligations of approximately $9.4 million through 2022. We recorded rent expense of $0.5 million and $0.3 million for the three months ended June 30, 2016 and 2015 , respectively, and $1.0 million and $0.6 million for the six months ended June 30, 2016 and 2015 , respectively. During the six months ended June 30, 2016 , we moved into a new location in Richardson, Texas, and permanently exited the prior location which expires on December 31, 2016. We are in the process of finding a sublessee for the prior location. Due to our remaining commitment, under the terms of the prior lease agreement, and our abandonment of the facilities, we recorded a $0.1 million loss and a corresponding liability, which represents the amount of future payments that must be made under the terms of the original lease reduced by the estimated amount of rent that could be reasonably collected from a sub-lessee at current market rates. Line of Credit On October 9, 2015, we entered into Amendment Number One to our Credit Agreement with Wells Fargo, as administrative agent, and the lenders that are parties thereto (as amended, the “Credit Agreement”). Under the terms of the Credit Agreement, the lenders made available to us a $25.0 million revolving line of credit (the “Revolving Facility”). Borrowings under the Revolving Facility are subject to the satisfaction of customary conditions. The Revolving Facility matures on October 9, 2020. However, we can make payments on, and cancel in full, the Revolving Facility at any time without premium or penalty. As of June 30, 2016 , there was no outstanding balance and at December 31, 2015 there was a balance of $12,000 under the Credit Agreement. Insurance We have a wholly owned subsidiary, Terra Mar Insurance Company, Inc. (“Terra Mar”), which was established to provide our customers with the option to purchase tenant liability insurance. If our customers choose to use our insurance services, they are issued an insurance policy underwritten by our third-party service provider. The policy has a limit of $100,000 per incident for each insured residence. We have entered into a reinsurance agreement with our third-party service provider and, as a result, we assume a 100% quota share of the tenant liability insurance provided to our customers through our third-party service provider. Included in cost of revenue we accrue for reported claims and an estimate of losses incurred but not reported by our property manager customers, as we bear the risk related to these claims. Our liability for reported claims and incurred but not reported claims as of June 30, 2016 and December 31, 2015 was $0.5 million and $0.5 million , respectively, and is included in other current liabilities on the Condensed Consolidated Balance Sheets. Included in other current assets as of June 30, 2016 and December 31, 2015 are $1.1 million and $1.0 million , respectively, of deposits held with a third party related to requirements to maintain collateral for our insurance services. Litigation From time to time, we may become subject to legal proceedings, claims and litigation arising in the ordinary course of business. We are not currently a party to any legal proceedings, nor are we aware of any pending or threatened litigation that would have a material adverse effect on our business, operating results, cash flows or financial condition should such litigation be resolved unfavorably. Indemnification In the ordinary course of business, we may provide indemnification of varying scope and terms to customers, investors, directors and officers with respect to certain matters, including, but not limited to, losses arising out of our breach of any applicable agreements, services to be provided by us, or intellectual property infringement claims made by third parties. These indemnification provisions may survive termination of the underlying agreement and the maximum potential amount of future payments we could be required to make under these indemnification provisions may not be subject to maximum loss clauses. The maximum potential amount of future payments we could be required to make under these indemnification provisions is indeterminable. We have never paid a material claim, nor have we been sued in connection with these indemnification arrangements. As of June 30, 2016 and December 31, 2015 , we had not accrued a liability for these indemnification arrangements because we have determined that the likelihood of incurring a payment obligation, if any, in connection with these indemnification arrangements is not probable or reasonably possible and the amount or range of amounts of any such liability is not reasonably estimable.

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
	Jun. 30, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock-Based Compensation	Stock-Based Compensation Stock Options A summary of our stock option activity for the six months ended June 30, 2016 is as follows (number of shares in thousands): Number of Shares Weighted Average Exercise Price per Share Weighted Average Remaining Contractual Life in Years Options outstanding as of December 31, 2015 1,171 $ 5.30 8.0 Options granted 750 12.85 Options exercised (74 ) 2.07 Options cancelled/forfeited (23 ) 8.45 Options outstanding as of June 30, 2016 1,824 $ 8.50 8.6 During the six months ended June 30, 2016 , we granted PSOs to purchase up to 750,000 shares of our Class A common stock. The PSOs have a weighted average exercise price of $12.85 per share. Vesting of the PSOs is based on our achievement of a pre-established free cash flow performance metric for the years ended December 31, 2016, 2017 and 2018 and continued employment throughout the performance period. We recognize expense for the PSOs based on the grant date fair value of the PSOs that we determine are probable of vesting. Adjustments to compensation expense are made each period based on changes in our estimate of the number of PSOs that are probable of vesting. The number of PSOs granted, as included in the above table, assumes achievement of the performance metric at the maximum level, which is 150% of the targeted performance metric. For performance at 100% of the targeted metric, approximately 67% of the PSOs would vest. For performance at 80% of the targeted metric, approximately 33% of the PSOs would vest. For performance below 80% of the 2016 and 2018 targeted metric, no PSOs would vest , no compensation expense would be recognized and all previously recognized compensation expense for PSOs would be reversed. For performance below 50% of the 2017 targeted metric, no PSOs would vest, no compensation expense would be recognized and all previously recognized compensation expense for PSOs would be reversed. Our stock-based compensation expense for stock options, including the PSOs for the three months ended June 30, 2016 and 2015 was $578,000 and $167,000 , respectively, and for the six months ended June 30, 2016 and 2015 was $865 ,000 and $269 ,000 respectively. The fair value of stock options granted is estimated on the date of grant using the Black-Scholes option-pricing model. The following table summarizes information relating to our stock options granted during the three and six months ended June 30, 2016 and 2015 : Three Months Ended Six Months Ended 2016 2015 2016 2015 Stock options granted (in thousands) 500 82 750 277 Weighted average exercise price per share $ 13.43 $ 12.00 $ 12.85 $ 7.51 Weighted average grant-date fair value per share $ 5.20 $ 5.42 $ 4.85 $ 6.77 Weighted average Black-Scholes model assumptions: Risk-free interest rate 1.53 % 1.91 % 1.45 % 1.53 % Expected term (in years) 6.1 6.0 5.9 6.2 Expected volatility 38 % 45 % 37 % 47 % Expected dividend yield — — — — As of June 30, 2016 , the total estimated remaining stock-based compensation expense for unvested stock options, including the PSOs was $4.3 million , which is expected to be recognized over a weighted average period of 2.1 years. Restricted Stock Units A summary of activity in connection with our restricted stock units for the six months ended June 30, 2016 is as follows (number of shares in thousands): Number of Shares Weighted- Average Grant Date Fair Value per Share Unvested as of December 31, 2015 17 $ 15.45 Granted 463 12.46 Vested — — Forfeited (5 ) 12.60 Unvested as of June 30, 2016 475 $ 12.56 During the six months ended June 30, 2016 , we granted 376,000 RSUs that vest annually over four years and 87,000 PSUs that vest based upon achievement of a pre-established free cash flow performance metric for the years ended December 31, 2016, 2017 and 2018 and continued employment throughout the performance period. We recognize expense for the PSUs based on the grant date fair value of the PSUs that we determine are probable of vesting. Adjustments to compensation expense are made each period based on changes in our estimate of the number of PSUs that are probable of vesting. The number of PSUs granted, as included in the above table, assumes achievement of the performance metric at 100% of the targeted performance metric. The actual number of shares to be issued at the end of the performance period will range from 0% to 150% of the initial target awards. For performance at 150% of the targeted metric, 150% of the PSUs would vest. For performance at 80% of the targeted metric, approximately 50% of the PSUs would vest. For performance below 80% of targeted metric for 2016 and 2018, no PSUs would vest and no compensation expense would be recognized and all previously recognized compensation expense for PSUs would be reversed. For performance below 50% of targeted metric for 2017, no PSUs would vest and no compensation expense would be recognized and all previously recognized compensation expense for PSUs would be reversed. Our stock-based compensation expense for the RSUs and PSUs was $527,000 and $638,000 for the three and six months ended June 30, 2016 , respectively. As of June 30, 2016 , the total remaining estimated stock-based compensation expense for the RSUs and PSUs was $5.4 million , which is expected to be recognized over a weighted average period of 3.1 years. Restricted Stock Awards A summary of activity in connection with our restricted stock awards for the six months ended June 30, 2016 is as follows (number of shares in thousands): Number of Weighted- Unvested as of December 31, 2015 120 $ 4.68 Granted 22 13.46 Vested (66 ) 6.10 Forfeited — — Unvested as of June 30, 2016 76 $ 6.00 We have the right to repurchase any unvested restricted stock awards. Restricted stock awards vest over a four -year period for employees and a one -year period for non-employee directors. We recognized stock-based compensation expense of $114,000 and $80,000 for the three months ended June 30, 2016 and 2015 , respectively, and $229 ,000 and $143,000 for the six months ended June 30, 2016 and 2015 , respectively. As of June 30, 2016 , the total remaining stock-based compensation expense for unvested restricted stock awards with a repurchasing right was $0.5 million , which is expected to be recognized over a weighted average period of 1.3 years .

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2016
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Our effective tax rate differs from the U.S. Federal statutory rate of 34% primarily because our losses have been offset by a valuation allowance due to uncertainty as to the realization of those losses. For the three and six months ended June 30, 2016 , we recorded income tax expense of $13,000 and $37,000 , respectively on pre-tax losses of $2.3 million and $5.8 million , respectively, for an effective tax rate of (0.6%) and (0.6%) , respectively. The income tax expense is based on our payments of state minimum taxes and the amortization of tax deductible goodwill that is not an available source of income to realize the deferred tax asset. For the three and six months ended June 30, 2015 , we recorded income tax (benefit) expense of $(63,000) and $11,000 respectively on pre-tax losses of $3.5 million and $7.0 million , respectively for an effective tax rate of 1.8% and (0.2%) , respectively. The income tax benefit was based on the reversal of income tax expense recorded when the statutory rate was applied to actual year-to-date earnings of our subsidiary, Terra Mar, which became part of our U.S. consolidated group for tax purposes at June 30, 2015. Terra Mar’s earnings were then offset by the losses of our U.S. consolidated group for tax purposes. The income tax expense is based on state minimum taxes and the amortization of tax deductible goodwill that is not an available source of income to realize the deferred tax asset.

Revenue and Other Information

Revenue and Other Information	6 Months Ended
	Jun. 30, 2016
Segment Reporting [Abstract]
Revenue and Other Information	Revenue and Other Information Our chief operating decision maker reviews separate revenue information for our core solutions, Value+ and other service offerings as a measure of growth in the number of our customers and growth in the adoption and utilization of our core solutions and Value+ services by new and existing customers. The following table presents our revenue categories for the three and six months ended June 30, 2016 and 2015 (in thousands): Three Months Ended Six Months Ended 2016 2015 2016 2015 Core solutions $ 10,572 $ 7,697 $ 20,335 $ 14,831 Value+ services 14,399 9,408 26,653 17,112 Other 1,232 1,320 2,426 2,330 Total revenues $ 26,203 $ 18,425 $ 49,414 $ 34,273 Value+ services presented above include revenue from subscriptions or usage-based fees. Subscription Value+ services include website hosting services and contact center services. Usage-based Value+ services include fees for electronic payment processing, resident screening services, tenant liability insurance program, and online vacancy advertising services based on the RentLinx software platform acquired in April 2015. Other services included above are for one-time services related to on-boarding our core solutions, website design services and online vacancy advertising services offered to legacy RentLinx customers. Our revenue is generated primarily from U.S. customers. All of our property and equipment is located in the U.S.

Summary of Significant Accoun17

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2016
Accounting Policies [Abstract]
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the dates of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ materially from those estimates. On an ongoing basis, management evaluates its estimates based on historical data and experience, as well as various other factors that management believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying value of assets and liabilities that are not readily apparent from other sources.
Recent Accounting Pronouncements	Recent Accounting Pronouncements Under the Jumpstart our Business Startups Act (the “JOBS Act”), we meet the definition of an emerging growth company. We have irrevocably elected to opt out of the extended transition period for complying with new or revised accounting standards pursuant to Section 107(b) of the JOBS Act. In May 2014, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2014-09, Revenue from Contracts with Customers (“ASU 2014-09”), which requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. ASU 2014-09 will replace most existing revenue recognition guidance in GAAP when it becomes effective. ASU 2014-09 is effective on January 1, 2018. Early adoption is permitted as of January 1, 2017. The standard permits the use of either a retrospective or cumulative effect transition method. We have not determined which transition method we will adopt, nor have we determined the effect of this guidance on our financial condition, results of operations, cash flows or disclosures. In February 2016, the FASB issued ASU No. 2016-02, "Leases (Topic 842)" ("ASU 2016-02"). Under ASU 2016-02, an entity will be required to recognize right-of-use assets and lease liabilities on its balance sheet and disclose key information about leasing arrangements. ASU 2016-02 offers specific accounting guidance for a lessee, a lessor and sale and leaseback transactions. Lessees and lessors are required to disclose qualitative and quantitative information about leasing arrangements to enable a user of the financial statements to assess the amount, timing and uncertainty of cash flows arising from leases. For public companies, ASU 2016-02 is effective for annual reporting periods beginning after December 15, 2018, including interim periods within that reporting period, and requires a modified retrospective adoption, with early adoption permitted. We will adopt this guidance beginning with its first quarter ending March 31, 2019. We have not determined the effect of this guidance on our financial condition, results of operations, cash flows or disclosures. In March 2016, the FASB issued ASU 2016-08, "Revenue from Contracts with Customers (Topic 606), Principal versus Agent Considerations (Reporting of Revenue Gross versus Net) ("ASU 2016-08"), which provides additional guidance to improve the operability and understandability of the implementation guidance on principal versus agent considerations and provides additional illustrative examples to assist with the application of the guidance. The amendment does not change the core principles in Topic 606. ASU 2016-08 is effective on January 1, 2018 with the adoption of ASU 2014-09. Early adoption is permitted as of January 1, 2017. We have not determined the effect of this guidance on our financial condition, results of operations, cash flows or disclosures. In March 2016, the FASB issued ASU No. 2016-09, "Compensation - Stock Compensation (Topic 781), Improvements to Employee Share-Based Payment Accounting ("ASU 2106-09"), which amends and simplifies the accounting for share-based payment awards in three areas; (1) income tax consequences, (2) classification of awards as either equity or liabilities, and (3) classification on the statement of cash flows. For public companies, ASU 2016-09 is effective for annual periods beginning after December 15, 2016, and interim periods within those annual periods. Early adoption is permitted for any interim or annual period. We have not determined the effect of this guidance on our financial condition, results of operations, cash flows or disclosures. In April 2016, the FASB issued ASU No. 2016-10, "Revenue from Contracts with Customers (Topic 606), Identifying Performance Obligations and Licensing ("ASU 2016-10"), which provides additional guidance on identifying performance obligations and also to improve the operability and understandability of the licensing implementation guidance. The amendment does not change the core principles in Topic 606. ASU 2016-10 is effective on January 1, 2018 with the adoption of ASU 2014-09. Early adoption is permitted as of January 1, 2017. We have not determined the effect of this guidance on our financial condition, results of operations, cash flows or disclosures. In May 2016, the FASB issued ASU No. 2016-12, "Revenue from Contracts with Customers (Topic 606), Narrow-Scope Improvements and Practical Expedients ("ASU 2016-12"), which clarifies the collectibility criterion and transition guidance for contracts for which substantially all revenue was recognized under legacy accounting guidance. The amendment does not change the core principles in Topic 606. ASU 2016-12 is effective on January 1, 2018 with the adoption of ASU 2014-09. Early adoption is permitted as of January 1, 2017. We have not determined the effect of this guidance on our financial condition, results of operations, cash flows or disclosures. In June 2016, he FASB issued ASU No. 2016-13, " Financial Instruments -Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments ("ASU 2016-13"), which amends the current accounting guidance and requires all expected losses based on historical experience, current conditions and reasonable and supportable forecasts. This guidance amends the accounting for credit losses for available-for-sale securities and purchased financial assets with credit deterioration. ASU 2016-13 is effective for annual periods beginning after December 15, 2019, and interim periods within those annual periods. Early adoption is permitted for any interim or annual period after December 15, 2018. We have not determined the effect of this guidance on our financial condition, results of operations, cash flows or disclosures.

Summary of Significant Accoun18

Summary of Significant Accounting Policies (Tables)	6 Months Ended
	Jun. 30, 2016
Accounting Policies [Abstract]
Schedule of Weighted Average Number of Shares	The following table presents a reconciliation of our weighted average number of Class A and Class B common shares used to compute net loss per share (in thousands): Three Months Ended Six Months Ended 2016 2015 2016 2015 Weighted average shares outstanding 33,610 9,474 33,591 9,278 Less: Weighted average unvested restricted shares subject to repurchase 87 146 98 156 Weighted average number of shares used to compute basic and diluted net loss per share 33,523 9,328 33,493 9,122
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	The following table presents the number of anti-dilutive Class A and Class B common shares excluded from the calculation of diluted net loss per share as of June 30, 2016 and 2015 (in thousands): June 30, 2016 2015 Options to purchase common stock 1,824 1,141 Unvested restricted stock awards 76 158 Unvested restricted stock units 475 — Contingent restricted stock units (1) 49 — Total shares excluded from net loss per share attributable to common stockholders 2,424 1,299 (1) The reported shares are based on 49,000 shares with a fixed price restricted stock unit (“RSU”) commitment for which the number of shares has not been determined at the grant date. The 49,000 shares included in the table above are based on the closing price of our stock at June 30, 2016 divided by the fixed price commitment to issue shares in the future. For additional information regarding the RSUs granted refer to Note 7, Stock-Based Compensation .

Investment Securities and Fai19

Investment Securities and Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2016
Fair Value Disclosures [Abstract]
Schedule of Available-for-sale Securities	Investment securities classified as available-for-sale consist of the following at June 30, 2016 and December 31, 2015 (in thousands): June 30, 2016 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value Corporate bonds $ 31,766 $ 188 $ (1 ) $ 31,953 Agency securities 2,000 — — 2,000 Certificates of deposit 6,225 33 — 6,258 Total available-for-sale investment securities $ 39,991 $ 221 $ (1 ) $ 40,211 December 31, 2015 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value Corporate bonds $ 30,568 $ — $ (126 ) $ 30,442 Agency securities 8,012 — (12 ) 8,000 Certificates of deposit 6,225 — (15 ) 6,210 Total available-for-sale investment securities $ 44,805 $ — $ (153 ) $ 44,652
Available-for-sale Investments, by Remaining Contract Maturity	At June 30, 2016 and December 31, 2015 , the contractual maturities of our investments did not exceed 36 months . The fair values of available-for-sale investments, by remaining contractual maturity, are as follows (in thousands): June 30, 2016 December 31, 2015 Amortized Cost Estimated Fair Value Amortized Cost Estimated Fair Value Due in 1 year or less $ 11,228 $ 11,234 $ 10,249 $ 10,235 Due after 1 year through 3 years 28,763 28,977 34,557 34,417 Total available-for-sale investment securities $ 39,991 $ 40,211 $ 44,806 $ 44,652
Schedule of Sales, Calls, and Maturities	During the six months ended June 30, 2016 , we had sales, calls and maturities of investment securities, as follows (in thousands): Six months ended June 30, 2016 Gross Realized Gains Gross Realized Losses Gross Proceeds from Sales and Calls Gross Proceeds from Maturities Corporate bonds $ 1 $ — $ 5,011 $ — Agency securities 5 — 9,063 1,500 Treasury bills — — 5,000 830 $ 6 $ — $ 19,074 $ 2,330
Fair Value, Assets Measured on Recurring Basis	Financial assets and financial liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement (in thousands): June 30, 2016 Level 1 Level 2 Level 3 Total Fair Cash equivalents: Money market funds $ 143 $ — $ — $ 143 Available-for-sale - investment securities: Corporate bonds — 31,953 — 31,953 Agency securities — 2,000 — 2,000 Certificates of deposit 6,258 — — 6,258 Total Assets $ 6,401 $ 33,953 $ — $ 40,354 December 31, 2015 Level 1 Level 2 Level 3 Total Fair Cash equivalents: Money market funds $ 7,102 $ — $ — $ 7,102 Available-for-sale - investment securities: Corporate bonds — 30,442 — 30,442 Agency securities — 8,000 — 8,000 Certificates of deposit 6,210 — — 6,210 Total Assets $ 13,312 $ 38,442 $ — $ 51,754
Schedule of Changes in Contingent Consideration Liability	The following table summarizes the changes in contingent consideration liability (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 Fair value, at beginning of period $ — $ 2,429 $ — $ 2,429 Payment of contingent consideration — (2,429 ) — (2,429 ) Fair value, at end of period $ — $ — $ — $ —

Internal-Use Software Develop20

Internal-Use Software Development Costs (Tables)	6 Months Ended
	Jun. 30, 2016
Research and Development [Abstract]
Schedule of Capitalized Computer Software	Internal-use software development costs were as follows (in thousands): June 30, December 31, Internal use software development costs, gross $ 27,283 $ 21,894 Less: Accumulated amortization (14,479 ) (11,872 ) Internal use software development costs, net $ 12,804 $ 10,022

Intangible Assets (Tables)

Intangible Assets (Tables)	6 Months Ended
	Jun. 30, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Finite-Lived Intangible Assets	Intangible assets consisted of the following as of June 30, 2016 and December 31, 2015 (in thousands, except years): June 30, 2016 Gross Carrying Accumulated Net Carrying Weighted Customer relationships $ 790 $ (313 ) $ 477 5.0 Technology 4,811 (2,669 ) 2,142 6.0 Trademarks 930 (354 ) 576 9.0 Partner relationships 680 (283 ) 397 3.0 Non-compete agreements 40 (17 ) 23 3.0 Domain names 274 (221 ) 53 5.0 Patents 282 (142 ) 140 5.0 $ 7,807 $ (3,999 ) $ 3,808 5.9 December 31, 2015 Gross Carrying Value Accumulated Amortization Net Carrying Value Weighted Average Useful Life in Years Customer relationships $ 790 $ (234 ) $ 556 5.0 Technology 4,811 (2,268 ) 2,543 6.0 Trademarks 930 (293 ) 637 9.0 Partner relationships 680 (170 ) 510 3.0 Non-compete agreements 40 (10 ) 30 3.0 Domain names 274 (199 ) 75 5.0 Patents 286 (121 ) 165 5.0 $ 7,811 $ (3,295 ) $ 4,516 5.9 A summary of the activity within our intangible assets since December 31, 2015 is as follows (in thousands): Intangible assets, net at December 31, 2015 $ 4,516 Disposals (4 ) Amortization (704 ) Intangible assets, net at June 30, 2016 $ 3,808

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Summary of Stock Option Activity	A summary of our stock option activity for the six months ended June 30, 2016 is as follows (number of shares in thousands): Number of Shares Weighted Average Exercise Price per Share Weighted Average Remaining Contractual Life in Years Options outstanding as of December 31, 2015 1,171 $ 5.30 8.0 Options granted 750 12.85 Options exercised (74 ) 2.07 Options cancelled/forfeited (23 ) 8.45 Options outstanding as of June 30, 2016 1,824 $ 8.50 8.6
Schedule of Valuation Assumptions, Stock Options	The following table summarizes information relating to our stock options granted during the three and six months ended June 30, 2016 and 2015 : Three Months Ended Six Months Ended 2016 2015 2016 2015 Stock options granted (in thousands) 500 82 750 277 Weighted average exercise price per share $ 13.43 $ 12.00 $ 12.85 $ 7.51 Weighted average grant-date fair value per share $ 5.20 $ 5.42 $ 4.85 $ 6.77 Weighted average Black-Scholes model assumptions: Risk-free interest rate 1.53 % 1.91 % 1.45 % 1.53 % Expected term (in years) 6.1 6.0 5.9 6.2 Expected volatility 38 % 45 % 37 % 47 % Expected dividend yield — — — —
Schedule of Restricted Stock Units Activity	A summary of activity in connection with our restricted stock units for the six months ended June 30, 2016 is as follows (number of shares in thousands): Number of Shares Weighted- Average Grant Date Fair Value per Share Unvested as of December 31, 2015 17 $ 15.45 Granted 463 12.46 Vested — — Forfeited (5 ) 12.60 Unvested as of June 30, 2016 475 $ 12.56
Schedule of Restricted Stock Awards Activity	A summary of activity in connection with our restricted stock awards for the six months ended June 30, 2016 is as follows (number of shares in thousands): Number of Weighted- Unvested as of December 31, 2015 120 $ 4.68 Granted 22 13.46 Vested (66 ) 6.10 Forfeited — — Unvested as of June 30, 2016 76 $ 6.00

Revenue and Other Information (

Revenue and Other Information (Tables)	6 Months Ended
	Jun. 30, 2016
Segment Reporting [Abstract]
Schedule of Product Information by Revenue Categories	The following table presents our revenue categories for the three and six months ended June 30, 2016 and 2015 (in thousands): Three Months Ended Six Months Ended 2016 2015 2016 2015 Core solutions $ 10,572 $ 7,697 $ 20,335 $ 14,831 Value+ services 14,399 9,408 26,653 17,112 Other 1,232 1,320 2,426 2,330 Total revenues $ 26,203 $ 18,425 $ 49,414 $ 34,273

Summary of Significant Accoun24

Summary of Significant Accounting Policies - Net Loss per Share (Details) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Accounting Policies [Abstract]
Weighted average shares outstanding	33,610,000	9,474,000	33,591,000	9,278,000
Less: Weighted average unvested restricted shares subject to repurchase	87,000	146,000	98,000	156,000
Weighted average number of shares used to compute basic and diluted net loss per share	33,523,000	9,328,000	33,493,000	9,122,000
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Shares excluded from net loss per share attributable to common stockholders			2,424,000	1,299,000
Stock Option
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Shares excluded from net loss per share attributable to common stockholders			1,824,000	1,141,000
Restricted Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Shares excluded from net loss per share attributable to common stockholders			76,000	158,000
RSUs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Shares excluded from net loss per share attributable to common stockholders			475,000	0
Contingent RSUs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Shares excluded from net loss per share attributable to common stockholders			49,000	0
Fixed Price RSUs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Shares excluded from net loss per share attributable to common stockholders			49,000

Investment Securities and Fai25

Investment Securities and Fair Value Measurements - Investment Securities (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2016	Dec. 31, 2015
Available-for-sale Securities, Amortized Cost Basis [Abstract]
Amortized Cost	$ 39,991	$ 44,805
Gross Unrealized Gains	221	0
Gross Unrealized Losses	(1)	(153)
Estimated Fair Value	$ 40,211	44,652
Maximum contractual maturity period	36 months
Amortized Cost
Due in 1 year or less	$ 11,228	10,249
Due after 1 year through 3 years	28,763	34,557
Total available-for-sale investment securities	39,991	44,806
Estimated Fair Value
Due in 1 year or less	11,234	10,235
Due after 1 year through 3 years	28,977	34,417
Total available-for-sale investment securities	40,211	44,652
Corporate bonds
Available-for-sale Securities, Amortized Cost Basis [Abstract]
Amortized Cost	31,766	30,568
Gross Unrealized Gains	188	0
Gross Unrealized Losses	(1)	(126)
Estimated Fair Value	31,953	30,442
Agency securities
Available-for-sale Securities, Amortized Cost Basis [Abstract]
Amortized Cost	2,000	8,012
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	(12)
Estimated Fair Value	2,000	8,000
Certificates of Deposit
Available-for-sale Securities, Amortized Cost Basis [Abstract]
Amortized Cost	6,225	6,225
Gross Unrealized Gains	33	0
Gross Unrealized Losses	0	(15)
Estimated Fair Value	$ 6,258	$ 6,210

Investment Securities and Fai26

Investment Securities and Fair Value Measurements - Sales, Calls and Maturities (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Schedule of Available-for-sale Securities [Line Items]
Gross Realized Gains	$ 6
Gross Realized Losses	0
Gross Proceeds from Sales and Calls	19,074	$ 0
Gross Proceeds from Maturities	2,330	$ 0
Corporate bonds
Schedule of Available-for-sale Securities [Line Items]
Gross Realized Gains	1
Gross Realized Losses	0
Gross Proceeds from Sales and Calls	5,011
Gross Proceeds from Maturities	0
Agency securities
Schedule of Available-for-sale Securities [Line Items]
Gross Realized Gains	5
Gross Realized Losses	0
Gross Proceeds from Sales and Calls	9,063
Gross Proceeds from Maturities	1,500
Treasury bills
Schedule of Available-for-sale Securities [Line Items]
Gross Realized Gains	0
Gross Realized Losses	0
Gross Proceeds from Sales and Calls	5,000
Gross Proceeds from Maturities	$ 830

Investment Securities and Fai27

Investment Securities and Fair Value Measurements - Fair Value Measurements (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	$ 40,211	$ 44,652
Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, Fair Value Disclosure	40,354	51,754
Fair Value, Measurements, Recurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, Fair Value Disclosure	6,401	13,312
Fair Value, Measurements, Recurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, Fair Value Disclosure	33,953	38,442
Fair Value, Measurements, Recurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, Fair Value Disclosure	0	0
Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	31,953	30,442
Corporate bonds | Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	31,953	30,442
Corporate bonds | Fair Value, Measurements, Recurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	0	0
Corporate bonds | Fair Value, Measurements, Recurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	31,953	30,442
Corporate bonds | Fair Value, Measurements, Recurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	0	0
Agency securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	2,000	8,000
Agency securities | Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	2,000	8,000
Agency securities | Fair Value, Measurements, Recurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	0	0
Agency securities | Fair Value, Measurements, Recurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	2,000	8,000
Agency securities | Fair Value, Measurements, Recurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	0	0
Certificates of Deposit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	6,258	6,210
Certificates of Deposit | Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	6,258	6,210
Certificates of Deposit | Fair Value, Measurements, Recurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	6,258	6,210
Certificates of Deposit | Fair Value, Measurements, Recurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	0	0
Certificates of Deposit | Fair Value, Measurements, Recurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	0	0
Money Market Accounts | Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	143	7,102
Money Market Accounts | Fair Value, Measurements, Recurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	143	7,102
Money Market Accounts | Fair Value, Measurements, Recurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	0	0
Money Market Accounts | Fair Value, Measurements, Recurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	$ 0	$ 0

Investment Securities and Fai28

Investment Securities and Fair Value Measurements - Contingent Consideration (Details) - USD ($) $ in Thousands	May 06, 2015	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Final earn-out payment				$ 0	$ 2,429
Contingent Consideration
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair value, at beginning of period		$ 0	$ 2,429	0	2,429
Payment of contingent consideration		0	(2,429)	0	(2,429)
Fair value, at end of period		$ 0	$ 0	$ 0	$ 0
Final earn-out payment	$ 2,400

Internal-Use Software Develop29

Internal-Use Software Development Costs (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
Research and Development [Abstract]
Internal use software development costs, gross	$ 27,283		$ 27,283		$ 21,894
Less: Accumulated amortization	(14,479)		(14,479)		(11,872)
Internal use software development costs, net	12,804		12,804		$ 10,022
Capitalized software development costs during the period	(3,000)	$ (1,900)	(5,400)	$ (3,300)
Amortization expense with respect to software development costs during the period	$ 1,400	$ 800	$ 2,700	$ 1,400

Intangible Assets - Intangible

Intangible Assets - Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	$ 7,807		$ 7,807		$ 7,811
Accumulated Amortization	(3,999)		(3,999)		(3,295)
Net Carrying Value	3,808		3,808		$ 4,516
Amortization expense	400	$ 400	$ 704	$ 600
Weighted Average
Finite-Lived Intangible Assets [Line Items]
Weighted Average Useful Life in Years			5 years 10 months 24 days		5 years 10 months 24 days
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	790		$ 790		$ 790
Accumulated Amortization	(313)		(313)		(234)
Net Carrying Value	477		$ 477		$ 556
Customer relationships | Weighted Average
Finite-Lived Intangible Assets [Line Items]
Weighted Average Useful Life in Years			5 years		5 years
Technology
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	4,811		$ 4,811		$ 4,811
Accumulated Amortization	(2,669)		(2,669)		(2,268)
Net Carrying Value	2,142		$ 2,142		$ 2,543
Technology | Weighted Average
Finite-Lived Intangible Assets [Line Items]
Weighted Average Useful Life in Years			6 years		6 years
Trademarks
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	930		$ 930		$ 930
Accumulated Amortization	(354)		(354)		(293)
Net Carrying Value	576		$ 576		$ 637
Trademarks | Weighted Average
Finite-Lived Intangible Assets [Line Items]
Weighted Average Useful Life in Years			9 years		9 years
Partner relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	680		$ 680		$ 680
Accumulated Amortization	(283)		(283)		(170)
Net Carrying Value	397		$ 397		$ 510
Partner relationships | Weighted Average
Finite-Lived Intangible Assets [Line Items]
Weighted Average Useful Life in Years			3 years		3 years
Non-compete agreements
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	40		$ 40		$ 40
Accumulated Amortization	(17)		(17)		(10)
Net Carrying Value	23		$ 23		$ 30
Non-compete agreements | Weighted Average
Finite-Lived Intangible Assets [Line Items]
Weighted Average Useful Life in Years			3 years		3 years
Domain names
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	274		$ 274		$ 274
Accumulated Amortization	(221)		(221)		(199)
Net Carrying Value	53		$ 53		$ 75
Domain names | Weighted Average
Finite-Lived Intangible Assets [Line Items]
Weighted Average Useful Life in Years			5 years		5 years
Patents
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	282		$ 282		$ 286
Accumulated Amortization	(142)		(142)		(121)
Net Carrying Value	$ 140		$ 140		$ 165
Patents | Weighted Average
Finite-Lived Intangible Assets [Line Items]
Weighted Average Useful Life in Years			5 years		5 years

Intangible Assets - Intangibl31

Intangible Assets - Intangible Asset Activity (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Finite-lived Intangible Assets [Roll Forward]
Intangible assets, net at December 31, 2015			$ 4,516
Disposals			(4)
Amortization	$ (400)	$ (400)	(704)	$ (600)
Intangible assets, net at June 30, 2016	$ 3,808		$ 3,808

Commitment and Contingencies (D

Commitment and Contingencies (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015	Oct. 09, 2015
Loss Contingencies [Line Items]
Operating lease obligations	$ 9,400,000		$ 9,400,000
Rent expense	500,000	$ 300,000	1,000,000	$ 600,000
Per incident policy limit			$ 100,000
Quota share of tenant liability insurance provided, percent			100.00%
Other Current Liabilities
Loss Contingencies [Line Items]
Liability for reported claims and claims incurred but not reported	500,000		$ 500,000		$ 500,000
Prepaid Expenses and Other Current Assets
Loss Contingencies [Line Items]
Deposits held with a third party related to insurance services collateral	1,100,000		1,100,000		1,000,000
Credit Facility | Revolving Facility
Loss Contingencies [Line Items]
Maximum borrowing capacity						$ 25,000,000
Credit Facility | Term Loan
Loss Contingencies [Line Items]
Line of credit, amount outstanding	0		0		$ 12,000
Loss From Premature Lease Exit
Loss Contingencies [Line Items]
Lease loss liability	$ 100,000		$ 100,000

Stock-Based Compensation - Stoc

Stock-Based Compensation - Stock Option Activity (Details) - USD ($) $ / shares in Units, shares in Thousands	Mar. 31, 2016	Dec. 31, 2014	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Options granted (shares)			500	82	750	277
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract]
Options granted, weighted average exercise price (usd per share)			$ 13.43	$ 12	$ 12.85	$ 7.51
Vesting Tranche One
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract]
Percent of targeted awards that will vest			67.00%		67.00%
PSOs
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Options granted (shares)					750
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract]
Percent of targeted performance metric			150.00%		150.00%
PSOs | Vesting Tranche One
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract]
Percent of targeted performance metric			100.00%		100.00%
PSOs | Vesting Tranche Two
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract]
Percent of targeted performance metric			80.00%		80.00%
Percent of targeted awards that will vest			33.00%		33.00%
PSOs | Vesting Tranche Three
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract]
Percent of targeted performance metric			80.00%		80.00%
PSOs | Vesting Tranche Four
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract]
Percent of targeted performance metric			50.00%		50.00%
Percent of targeted awards that will vest			0.00%		0.00%
Stock-based compensation expense					$ 0
Stock Options and PSOs
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Options outstanding, beginning balance (shares)					1,171
Options granted (shares)					750
Options exercised (shares)					(74)
Options canceled/forfeited (shares)					(23)
Options outstanding, ending balance (shares)			1,824		1,824
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract]
Options outstanding, weighted average exercise price, beginning balance (usd per share)					$ 5.30
Options granted, weighted average exercise price (usd per share)					12.85
Options exercised, weighted average exercise price (usd per share)					2.07
Options canceled/forfeited, weighted average exercise price (usd per share)					8.45
Options outstanding, weighted average exercise price, ending balance (usd per share)			$ 8.50		$ 8.50
Weighted average remaining contractual life, in years	8 years 7 months 6 days	8 years
Stock-based compensation expense			$ 578,000	$ 167,000	$ 865,000	$ 269,000

Stock-Based Compensation - Valu

Stock-Based Compensation - Valuation Assumptions (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options granted (shares)	500	82	750	277
Options granted, weighted average exercise price (usd per share)	$ 13.43	$ 12	$ 12.85	$ 7.51
Weighted average grant-date fair value per share (usd per share)	$ 5.20	$ 5.42	$ 4.85	$ 6.77
Stock Options and PSOs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options granted (shares)			750
Options granted, weighted average exercise price (usd per share)			$ 12.85
Weighted average Black-Scholes model assumptions:
Risk-free interest rate	1.53%	1.91%	1.45%	1.53%
Expected term	6 years 1 month 6 days	6 years	5 years 10 months 24 days	6 years 2 months 12 days
Expected volatility	38.00%	45.00%	37.00%	47.00%
Expected dividend yield	0.00%	0.00%	0.00%	0.00%
Remaining stock-based compensation expense for unvested options, not yet recognized	$ 4.3		$ 4.3
Stock-based compensation expense, weighted average recognition period			2 years 1 month 6 days

Stock-Based Compensation - Non-

Stock-Based Compensation - Non-option Award Activity (Details) shares in Thousands	6 Months Ended
	Jun. 30, 2016$ / sharesshares
RSUs and PSUs
Number of Shares
Unvested, beginning balance (shares) | shares	17
Granted (shares) | shares	463
Vested (shares) | shares	0
Forfeited (shares) | shares	(5)
Unvested, ending balance (shares) | shares	475
Weighted- Average Grant Date Fair Value per Share
Unvested, beginning balance (usd per share) | $ / shares	$ 15.45
Granted (usd per share) | $ / shares	12.46
Vested (usd per share) | $ / shares	0
Forfeited (usd per share) | $ / shares	12.60
Unvested, ending balance (usd per share) | $ / shares	$ 12.56
Restricted Stock
Number of Shares
Unvested, beginning balance (shares) | shares	120
Granted (shares) | shares	22
Vested (shares) | shares	(66)
Forfeited (shares) | shares	0
Unvested, ending balance (shares) | shares	76
Weighted- Average Grant Date Fair Value per Share
Unvested, beginning balance (usd per share) | $ / shares	$ 4.68
Granted (usd per share) | $ / shares	13.46
Vested (usd per share) | $ / shares	6.10
Forfeited (usd per share) | $ / shares	0
Unvested, ending balance (usd per share) | $ / shares	$ 6

Stock-Based Compensation - Rest

Stock-Based Compensation - Restricted Stock Units (Details)	3 Months Ended	6 Months Ended
	Jun. 30, 2016USD ($)	Jun. 30, 2016USD ($)
Vesting Tranche One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percent of targeted awards that will vest	67.00%	67.00%
RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fixed monetary value of shares granted		$ 376,000
Vesting period		4 years
PSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fixed monetary value of shares granted		$ 87,000
Percent of targeted performance metric	100.00%	100.00%
PSUs | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percent of targeted performance metric	0.00%	0.00%
PSUs | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percent of targeted performance metric	150.00%	150.00%
PSUs | Vesting Tranche One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percent of targeted performance metric	150.00%	150.00%
Percent of targeted awards that will vest	150.00%	150.00%
PSUs | Vesting Tranche Two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percent of targeted performance metric	80.00%	80.00%
Percent of targeted awards that will vest	50.00%	50.00%
PSUs | Vesting Tranche Three
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percent of targeted performance metric	80.00%	80.00%
PSUs | Vesting Tranche Four
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percent of targeted performance metric	50.00%	50.00%
Percent of targeted awards that will vest	0.00%	0.00%
Stock-based compensation expense		$ 0
RSUs and PSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 527,000	638,000
Remaining stock-based compensation expense for unvested shares, not yet recognized	$ 5,400,000	$ 5,400,000
Stock-based compensation expense, weighted average recognition period		3 years 1 month 6 days

Stock-Based Compensation - Re37

Stock-Based Compensation - Restricted Stock Awards (Details) - Restricted Stock - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 114	$ 80	$ 229	$ 143,000
Remaining stock-based compensation expense for unvested shares, not yet recognized	$ 500		$ 500
Stock-based compensation expense, weighted average recognition period			1 year 3 months 18 days
Employee
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period			4 years
Non-Employee Director
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period			1 year

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Income Tax Disclosure [Abstract]
U.S Federal statutory rate			34.00%
Income tax expense	$ 13	$ (63)	$ 37	$ 11
Pre-tax income (loss)	$ (2,251)	$ (3,463)	$ (5,830)	$ (7,007)
Effective tax rate	(0.60%)	1.80%	(0.60%)	(0.20%)

Revenue and Other Information39

Revenue and Other Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Product Information [Line Items]
Revenue	$ 26,203	$ 18,425	$ 49,414	$ 34,273
Core solutions
Product Information [Line Items]
Revenue	10,572	7,697	20,335	14,831
Value plus services
Product Information [Line Items]
Revenue	14,399	9,408	26,653	17,112
Other
Product Information [Line Items]
Revenue	$ 1,232	$ 1,320	$ 2,426	$ 2,330