Block (XYZ) 10-Q 6 May 16 2016 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2016	Apr. 28, 2016
Document and Entity Information [Abstract]
Entity Registrant Name	Square, Inc.
Entity Central Index Key	1,512,673
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Document Type	10-Q
Document Period End Date	Mar. 31, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q1
Amendment Flag	false
Class A
Class of Stock [Line Items]
Entity Common Stock, Shares Outstanding		51,465,931
Class B
Class of Stock [Line Items]
Entity Common Stock, Shares Outstanding		283,834,631

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Current assets:
Cash and cash equivalents	$ 370,646	$ 470,775
Short-term investments	43,447	0
Restricted cash	13,542	13,537
Settlements receivable	189,049	142,727
Merchant cash advance receivable, net	48,157	36,473
Other current assets	55,211	42,051
Total current assets	720,052	705,563
Property and equipment, net	89,039	87,222
Goodwill	56,699	56,699
Acquired intangible assets, net	24,463	26,776
Long-term investments	29,715	0
Restricted cash	14,994	14,686
Other assets	10,107	3,826
Total assets	945,069	894,772
Current liabilities:
Accounts payable	19,580	18,869
Customers payable	283,860	224,811
Accrued transaction losses	15,419	17,176
Accrued expenses	97,335	44,401
Other current liabilities	33,738	28,945
Total current liabilities	449,932	334,202
Other liabilities	50,253	52,522
Total liabilities	$ 500,185	$ 386,724
Commitments and contingencies
Stockholders’ equity:
Preferred stock, $0.0000001 par value: 100,000,000 shares authorized at March 31, 2016, and December 31, 2015. None issued and outstanding at March 31, 2016, and December 31, 2015.	$ 0	$ 0
Common stock, $0.0000001 par value: 1,000,000,000 Class A shares authorized at both March 31, 2016, and December 31, 2015; 31,717,133 issued and outstanding at both March 31, 2016, and December 31, 2015. 500,000,000 Class B shares authorized at both March 31, 2016, and December 31, 2015; 303,553,308 and 303,232,312 issued and outstanding at March 31, 2016, and December 31, 2015, respectively.	0	0
Additional paid-in capital	1,149,634	1,116,882
Accumulated deficit	(704,404)	(607,649)
Accumulated other comprehensive loss	(346)	(1,185)
Total stockholders’ equity	444,884	508,048
Total liabilities and stockholders’ equity	$ 945,069	$ 894,772

CONDENSED CONSOLIDATED BALANCE3

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Mar. 31, 2016	Dec. 31, 2015
Class of Stock [Line Items]
Preferred stock, par value (in USD per share)	$ 0.00	$ 0.00
Preferred stock, shares authorized	100,000,000	100,000,000
Preferred stock, shares authorized	0	0
Preferred stock, shares outstanding	0	0
Class A
Class of Stock [Line Items]
Common stock, par value (in USD per share)	$ 0.00	$ 0.00
Common stock, shares authorized	1,000,000,000	1,000,000,000
Common stock, shares issued	31,717,133	31,717,133
Common stock, shares outstanding	31,717,133	31,717,133
Class B
Class of Stock [Line Items]
Common stock, par value (in USD per share)	$ 0.00	$ 0.00
Common stock, shares authorized	500,000,000	500,000,000
Common stock, shares issued	303,553,308	303,232,312
Common stock, shares outstanding	303,553,308	303,232,312

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Revenue:
Hardware revenue	$ 16,182	$ 2,204
Total net revenue	379,269	250,557
Cost of revenue, hardware costs	26,740	4,197
Amortization of acquired technology	2,370	602
Total cost of revenue	269,029	176,272
Gross profit	110,240	74,285
Operating expenses:
Product development	64,592	39,545
Sales and marketing	38,496	36,181
General and administrative	96,107	28,119
Transaction and advance losses	7,861	16,322
Amortization of acquired intangible assets	317	468
Total operating expenses	207,373	120,635
Operating loss	(97,133)	(46,350)
Interest (income) and expense, net	69	414
Other (income) and expense, net	(786)	796
Loss before income tax	(96,416)	(47,560)
Provision for income taxes	339	418
Net loss	$ (96,755)	$ (47,978)
Net loss per share:
Basic (in USD per share)	$ (0.29)	$ (0.33)
Diluted (in USD per share)	$ (0.29)	$ (0.33)
Weighted-average shares used to compute net loss per share
Basic	331,324	145,069
Diluted	331,324	145,069
Transaction | Customers Other than Starbucks
Revenue:
Revenue	$ 300,453	$ 211,110
Cost of services	194,276	132,107
Transaction | Starbucks
Revenue:
Revenue	38,838	29,237
Cost of services	36,610	36,211
Software and data product
Revenue:
Revenue	23,796	8,006
Cost of services	$ 9,033	$ 3,155

CONDENSED CONSOLIDATED STATEME5

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Statement of Comprehensive Income [Abstract]
Net loss	$ (96,755)	$ (47,978)
Net foreign currency translation adjustments	510	(227)
Net unrealized gain (loss) on revaluation of intercompany loans	253	0
Net unrealized gain (loss) on marketable securities	76	0
Total comprehensive loss	$ (95,916)	$ (48,205)

CONDENSED CONSOLIDATED STATEME6

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Cash flows from operating activities:
Net loss	$ (96,755)	$ (47,978)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	9,118	5,546
Share-based compensation	31,198	13,461
Provision for transaction losses	7,182	13,757
Provision for uncollectible merchant cash advances	73	2,504
Deferred provision for income taxes	78	(207)
Loss (gain) on disposal of property and equipment	(38)	240
Changes in operating assets and liabilities:
Settlements receivable	(46,503)	(34,030)
Merchant cash advance receivable	(11,756)	(3,895)
Other current assets	(13,327)	3,210
Other assets	(6,301)	821
Accounts payable	2,576	4,683
Customers payable	58,866	38,631
Charge-offs and recoveries to accrued transaction losses	(8,939)	(5,398)
Accrued expenses	55,810	(5,443)
Other current liabilities	4,567	(1,723)
Other noncurrent liabilities	(1,360)	4,871
Net cash used in operating activities	(15,511)	(10,950)
Cash flows from investing activities:
Purchase of marketable securities	(73,086)	0
Purchase of property and equipment	(7,527)	(10,419)
Payment for acquisition of intangible assets	(400)	(100)
Change in restricted cash	(313)	0
Business acquisitions (net of cash acquired)	0	(3,750)
Net cash used in investing activities	(81,326)	(14,269)
Cash flows from financing activities:
Payments of offering costs related to initial public offering	(5,406)	0
Proceeds from the exercise of stock options	556	1,749
Net cash (used in) provided by financing activities	(4,850)	1,749
Effect of foreign exchange rate changes on cash and cash equivalents	1,558	(860)
Net decrease in cash and cash equivalents	(100,129)	(24,330)
Cash and cash equivalents, beginning of period	470,775	225,300
Cash and cash equivalents, end of period	$ 370,646	$ 200,970

DESCRIPTION OF BUSINESS AND SUM

DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	Mar. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Business Square, Inc. (together with its subsidiaries, Square or the Company) creates tools that help sellers of all sizes start, run, and grow their businesses. Square's point-of-sale service offers tools for every part of running a business, from accepting credit cards and tracking inventory, to real-time analytics and invoicing. Square also offers sellers financial and marketing services, including small business financing and customer engagement tools. Businesses and individuals can also use Square Cash, an easy way to send and receive money, as well as Caviar, a food delivery service for popular restaurants. Square was founded in 2009 and is headquartered in San Francisco, with offices in the United States, Canada, Japan, and Australia. Initial Public Offering In November 2015 , the Company completed its Initial Public Offering (IPO) in which it issued and sold 29,700,000 shares of Class A common stock at a public offering price of $9.00 per share and a selling stockholder sold 1,350,000 shares of Class A common stock. The Company did not receive any proceeds from the sale of shares by the selling stockholder. The total net proceeds received by the Company from the IPO were $245.7 million after deducting underwriting discounts and commissions of $14.7 million and other offering expenses of approximately $6.9 million . Basis of Presentation The accompanying interim condensed consolidated financial statements of the Company are unaudited. These interim condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (U.S. GAAP) and the applicable rules and regulations of the Securities and Exchange Commission (SEC) for interim financial information. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. The December 31, 2015 , condensed consolidated balance sheet was derived from the audited financial statements as of that date, but does not include all of the information and footnotes required by U.S. GAAP for complete financial statements. The accompanying unaudited interim condensed consolidated financial statements have been prepared on the same basis as the audited consolidated financial statements and, in the opinion of management, reflect all adjustments of a normal recurring nature considered necessary to state fairly the Company's financial position, results of operations, comprehensive loss, and cash flows for the interim periods. All intercompany transactions and balances have been eliminated in consolidation. The interim results for the three months ended March 31, 2016 are not necessarily indicative of the results that may be expected for the year ending December 31, 2016 , or for any other future annual or interim period. The information included in this Quarterly Report on Form 10-Q should be read in conjunction with “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” “Quantitative and Qualitative Disclosures About Market Risk,” and the Consolidated Financial Statements and notes thereto included in Items 7, 7A, and 8, respectively, in the Company's Annual Report on Form 10-K for the year ended December 31, 2015 . Use of Estimates The preparation of the Company’s consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenue and expenses, as well as related disclosure of contingent assets and liabilities. Actual results could differ from the Company’s estimates. To the extent that there are material differences between these estimates and actual results, the Company’s financial condition or operating results will be materially affected. The Company bases its estimates on past experience and other assumptions that the Company believes are reasonable under the circumstances, and the Company evaluates these estimates on an ongoing basis. Significant estimates, judgments and assumptions in these consolidated financial statements include, but are not limited to, those related to revenue recognition, accrued transaction losses, provision for uncollectible receivables related to merchant cash advances (MCAs), business combinations, goodwill and intangible assets, income taxes, and share-based compensation. Concentration of Credit Risk For the three months ended March 31, 2016 and 2015 , the Company had no customer other than Starbucks that accounted for greater than 10% of total net revenue. The Company had three third-party processors that represented approximately 48% , 34% , and 15% of settlements receivable as of March 31, 2016 . The same three parties represented approximately 56% , 23% , and 16% of settlements receivable as of December 31, 2015 . The Company places its cash and cash equivalents and investments in marketable securities with large, creditworthy financial institutions. Balances in these accounts may exceed federally insured limits at times. Significant Accounting Policies There have been no material changes to the Company’s significant accounting policies during the three months ended March 31, 2016 , as compared to the significant accounting policies described in the Company’s Annual Report on Form 10-K for the year ended December 31, 2015 . Recently Issued Accounting Standards In March 2016, the FASB issued ASU No. 2016-04, Recognition of Breakage for Certain Prepaid Stored-Value Products. This guidance specifies how prepaid stored-value product liabilities should be derecognized, thereby eliminating the current and potential future diversity in practice. This guidance is effective for financial statements issued for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years, with early adoption permitted. The Company is currently evaluating the impact this new guidance may have on the consolidated financial statements. In March 2016, the FASB issued ASU No. 2016-08, Principal versus Agent Considerations, which provides implementation guidance on principal versus agent considerations in the new revenue recognition standard. This guidance clarifies how an entity should identify the unit of accounting (i.e., the specified good or service) for the principal versus agent evaluation and how it should apply the control principle to certain types of arrangements. This guidance is effective for financial statements issued for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years, with early adoption permitted. The Company is currently evaluating the impact this new guidance may have on the consolidated financial statements. In March 2016, the FASB issued ASU No. 2016-09, Improvements to Employee Share-Based Payment Accounting , which is intended to simplify several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. This guidance is effective for financial statements issued for fiscal years beginning after December 15, 2016, and interim periods within those fiscal years, with early adoption permitted. The Company is currently evaluating the impact this new guidance may have on the consolidated financial statements.

RESTRICTED CASH

RESTRICTED CASH	3 Months Ended
	Mar. 31, 2016
Cash and Cash Equivalents [Abstract]
RESTRICTED CASH	RESTRICTED CASH As of both March 31, 2016 and December 31, 2015 , restricted cash of $13.5 million is related to pledged cash deposited into savings accounts at the financial institutions that process the Company's sellers' payment transactions. The Company uses the restricted cash to secure letters of credit with the financial institutions to provide collateral for cash flow timing differences in the processing of these payments. The Company has recorded this amount as a current asset on the condensed consolidated balance sheets due to the short-term nature of these cash flow timing differences and that there is no minimum time frame during which the cash must remain restricted. As of March 31, 2016 and December 31, 2015 , the remaining restricted cash of $15.0 million and $14.7 million , respectively, is primarily related to cash deposited into money market funds that is used as collateral pursuant to multi-year lease agreements entered into in 2012 and 2014 (see note 17 ). The Company has recorded this amount as a non-current asset on the consolidated balance sheets as the terms of the related leases extend beyond one year.

FAIR VALUE OF FINANCIAL INSTRUM

FAIR VALUE OF FINANCIAL INSTRUMENTS	3 Months Ended
	Mar. 31, 2016
Fair Value Disclosures [Abstract]
FAIR VALUE OF FINANCIAL INSTRUMENTS	FAIR VALUE OF FINANCIAL INSTRUMENTS The Company measures its cash equivalents and short-term and long-term investments at fair value. The Company classifies its cash equivalents and short-term and long-term investments within Level 1 or Level 2 of the fair value hierarchy because the Company values these investments using quoted market prices or alternative pricing sources and models utilizing market observable inputs. The Company’s financial assets and liabilities that are measured at fair value on a recurring basis are classified as follows (in thousands): March 31, 2016 December 31, 2015 Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Cash and Cash Equivalents: Money market funds $ 224,602 $ — $ — $ 337,234 $ — $ — U.S. agency securities — 2,500 — — — — Commercial paper — 5,346 — — — — Municipal securities — 1,672 — — — — Short-term securities: U.S. agency securities — 8,484 — — — — Corporate bonds — 4,543 — — — — Commercial paper — 20,430 — — — — U.S. government securities 9,990 — — — — — Long-term securities: — — — U.S. agency securities — 7,662 — — — — Corporate bonds — 5,908 — — — — U.S. government securities 16,145 — — — — — Total $ 250,737 $ 56,545 $ — $ 337,234 $ — $ — The carrying amounts of certain financial instruments, including cash equivalents, settlements receivable, merchant cash advance receivable, accounts payable, customers payable, settlements payable, and debt, approximate their fair values due to their short-term nature. If applicable, the Company will recognize transfers into and out of levels within the fair value hierarchy at the end of the reporting period in which the actual event or change in circumstance occurs. During the three months ended March 31, 2016 and 2015 , the Company did not have any transfers in or out of Level 1, Level 2, or Level 3 assets or liabilities.

INVESTMENTS

INVESTMENTS	3 Months Ended
	Mar. 31, 2016
Investments, Debt and Equity Securities [Abstract]
INVESTMENTS	INVESTMENTS The Company determines the appropriate classification of its investments in marketable securities at the time of purchase and reevaluates such designation at each balance sheet date. The Company has classified and accounted for its marketable securities as available-for-sale. The Company's short-term and long-term investments as of March 31, 2016 are as follows (in thousands): Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Short-term securities: U.S. agency securities $ 8,479 $ 5 $ — $ 8,484 Corporate bonds 4,543 5 (5 ) 4,543 Commercial paper 20,430 — — 20,430 U.S. government securities 9,985 5 — 9,990 Total $ 43,437 $ 15 $ (5 ) $ 43,447 Long-term securities: U.S. agency securities $ 7,641 $ 21 $ — $ 7,662 Corporate bonds 5,901 7 — 5,908 U.S. government securities 16,107 38 — 16,145 Total $ 29,649 $ 66 $ — $ 29,715 For the three months ended March 31, 2016 , gains or losses realized on the sale of investments were insignificant. Investments are reviewed periodically to identify possible other-than-temporary impairments. As the Company has the ability and intent to hold these investments with unrealized losses until a recovery of fair value, or for a reasonable period of time sufficient for the recovery of fair value, which may be maturity, the Company does not consider these investments to be other-than-temporarily impaired at March 31, 2016 . The contractual maturities of the Company's short-term and long-term investments as of March 31, 2016 , are as follows (in thousands): Amortized Cost Fair Value Due in one year or less $ 43,437 $ 43,447 Due in one to five years 29,649 29,715 Total $ 73,086 $ 73,162

MERCHANT CASH ADVANCE RECEIVABL

MERCHANT CASH ADVANCE RECEIVABLE, NET	3 Months Ended
	Mar. 31, 2016
Receivables [Abstract]
MERCHANT CASH ADVANCE RECEIVABLE, NET	MERCHANT CASH ADVANCE RECEIVABLE, NET The Company enters into purchase and sale transactions with pre-qualified sellers in which the Company purchases a designated amount of future receivables for an upfront cash purchase price. The delivery of the future receivables purchased in exchange for the advance cash purchase price is facilitated through the merchant’s payment processing activities with the Company. There is no economic recourse to the seller in the event that the future receivables are not generated. There is also no fixed period of time in which the seller must deliver the purchased future receivables to the Company, as delivery of the purchased future receivables is contingent on the sellers’ generation of such receivables. The Company has limited contractual remedies in the event that a seller breaches its agreement with the Company (e.g., where a seller does not use the Company as its exclusive processor while future receivables purchased by the Company remain outstanding). Although there is no economic recourse to the seller in the event that the future receivables are not generated, the degree of uncertainty related to this economic benefit is mitigated by the extensive due diligence performed by the Company prior to purchasing the seller’s future receivables and is further mitigated by limited contractual remedies. The Company’s due diligence includes, but is not limited to, detailed analyses of the seller’s historical processing volumes, transaction count, chargebacks, growth, and account longevity. The Company is exposed to losses related to uncollectible receivables purchased by the Company other than receivables that are sold to third parties in accordance with the Company’s arrangements with these third parties. The Company establishes reserves for uncollectible receivables based on historical trends, adverse economic conditions, and specific merchant activity. Subsequent delivery to the Company of a previously designated uncollectible receivable is reflected as a reduction in the allowance for uncollectible receivables when the delivery of the receivable occurs. The following table summarizes the activities of the Company’s allowance for uncollectible receivables (in thousands): Three Months Ended March 31, 2016 2015 Allowance for uncollectible receivables, beginning of the period $ 7,443 $ 2,431 Provision for uncollectible receivables 73 2,504 Receivables charged off (58 ) — Allowance for uncollectible receivables, end of the period $ 7,458 $ 4,935 The table above includes a reduction in uncollectible receivables for the three months ended March 31, 2016 , primarily as a result of an update to the Company's provision estimates for Square Capital, which the Company continues to refine as more historical data becomes available.

PROPERTY AND EQUIPMENT, NET

PROPERTY AND EQUIPMENT, NET	3 Months Ended
	Mar. 31, 2016
Property, Plant and Equipment [Abstract]
PROPERTY AND EQUIPMENT, NET	PROPERTY AND EQUIPMENT, NET The following is a summary of property, equipment, and internally-developed software at cost, less accumulated depreciation and amortization (in thousands): March 31, December 31, Computer equipment $ 46,751 $ 43,531 Office furniture and equipment 9,400 9,339 Leasehold improvements 67,714 65,298 Capitalized software 17,209 14,533 Construction in process 61 490 Total 141,135 133,191 Less: Accumulated depreciation and amortization (52,096 ) (45,969 ) Property and equipment, net $ 89,039 $ 87,222 Depreciation and amortization expense on property and equipment was $6.4 million for the three months ended March 31, 2016 . Depreciation and amortization expense on property and equipment was $4.5 million for the three months ended March 31, 2015 . Construction in Process Construction in process consists of leasehold improvements and furniture at the Company’s offices under construction as of March 31, 2016 and December 31, 2015 . Upon completion of construction, the assets will be depreciated over their useful lives.

GOODWILL

GOODWILL	3 Months Ended
	Mar. 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL	GOODWILL Goodwill is recorded when the consideration paid for an acquisition of a business exceeds the fair value of identifiable net tangible and intangible assets acquired. As of March 31, 2016 and December 31, 2015 , goodwill was $56.7 million . The Company performs a goodwill impairment test annually on December 31 and more frequently if events and circumstances indicate that the asset might be impaired. For the periods presented, the Company had recorded no impairment charges.

ACQUIRED INTANGIBLE ASSETS

ACQUIRED INTANGIBLE ASSETS	3 Months Ended
	Mar. 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
ACQUIRED INTANGIBLE ASSETS	ACQUIRED INTANGIBLE ASSETS The following table presents the detail of acquired intangible assets as of the periods presented (in thousands): Balance at March 31, 2016 Cost Accumulated Amortization Net Patent $ 1,285 $ (374 ) $ 911 Technology Assets 29,045 (9,014 ) 20,031 Customer Assets 6,645 (3,124 ) 3,521 Total $ 36,975 $ (12,512 ) $ 24,463 Balance at December 31, 2015 Cost Accumulated Amortization Net Patent $ 1,285 $ (348 ) $ 937 Technology Assets 28,645 (6,644 ) 22,001 Customer Assets 6,645 (2,807 ) 3,838 Total $ 36,575 $ (9,799 ) $ 26,776 The weighted average amortization periods for acquired patents, acquired technology, and customer intangible assets are approximately thirteen years , three years , and six years , respectively. Amortization expense associated with other intangible assets was $2.7 million for the three months ended March 31, 2016 . Amortization expense associated with other intangible assets was $1.1 million for the three months ended March 31, 2015 . The total estimated annual future amortization expense of these intangible assets as of March 31, 2016 , are as follows (in thousands): 2016 (remaining 9 months) $ 6,259 2017 7,187 2018 5,687 2019 2,983 2020 1,087 Thereafter 1,260 Total $ 24,463

OTHER BALANCE SHEET COMPONENTS

OTHER BALANCE SHEET COMPONENTS (CURRENT)	3 Months Ended
	Mar. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
OTHER BALANCE SHEET COMPONENTS	OTHER CONSOLIDATED BALANCE SHEET COMPONENTS (CURRENT) Other Current Assets The following table presents the detail of other current assets (in thousands): March 31, December 31, Accounts receivable $ 3,268 $ 4,808 Prepaid expenses 12,789 7,101 Deferred reader costs 3,218 4,018 Inventory 14,878 11,864 Tenant improvement reimbursement receivable 2,054 1,788 Deferred hardware costs 2,559 1,709 Processing costs receivable 10,037 7,847 Other 6,408 2,916 Total $ 55,211 $ 42,051 Accrued Expenses The following table presents the detail of accrued expenses (in thousands): March 31, December 31, Accrued hardware costs $ 2,656 $ 11,622 Processing costs payable 14,651 11,417 Accrued professional fees 7,637 7,642 Accrued payroll 6,493 2,660 Litigation accrual 50,000 — Other accrued liabilities 15,898 11,060 Total $ 97,335 $ 44,401 Other Current Liabilities The following table presents the detail of other current liabilities (in thousands): March 31, December 31, Settlements payable 16,308 $ 13,105 Employee early exercised stock options 1,663 2,141 Accrued redemptions 1,134 1,066 Current portion of deferred rent 2,569 2,393 Deferred revenue 6,213 6,623 Other 5,851 3,617 Total $ 33,738 $ 28,945 OTHER CONSOLIDATED BALANCE SHEET COMPONENTS (NON-CURRENT) Other Non-Current Assets The following table presents the detail of other non-current assets (in thousands): March 31, December 31, Deposits $ 2,054 $ 1,993 Deferred tax assets 122 188 Other 7,931 1,645 Total $ 10,107 $ 3,826 Other Non-Current Liabilities The following table presents the detail of other non-current liabilities (in thousands): March 31, December 31, Deferred rent $ 25,083 $ 25,543 Employee early exercised stock options 609 1,128 Deferred tax liabilities 299 299 Statutory liabilities 24,214 25,492 Other 48 60 Total $ 50,253 $ 52,522

OTHER CONSOLIDATED BALANCE SHEE

OTHER CONSOLIDATED BALANCE SHEET COMPONENTS (NON-CURRENT)	3 Months Ended
	Mar. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
OTHER BALANCE SHEET COMPONENTS	OTHER CONSOLIDATED BALANCE SHEET COMPONENTS (CURRENT) Other Current Assets The following table presents the detail of other current assets (in thousands): March 31, December 31, Accounts receivable $ 3,268 $ 4,808 Prepaid expenses 12,789 7,101 Deferred reader costs 3,218 4,018 Inventory 14,878 11,864 Tenant improvement reimbursement receivable 2,054 1,788 Deferred hardware costs 2,559 1,709 Processing costs receivable 10,037 7,847 Other 6,408 2,916 Total $ 55,211 $ 42,051 Accrued Expenses The following table presents the detail of accrued expenses (in thousands): March 31, December 31, Accrued hardware costs $ 2,656 $ 11,622 Processing costs payable 14,651 11,417 Accrued professional fees 7,637 7,642 Accrued payroll 6,493 2,660 Litigation accrual 50,000 — Other accrued liabilities 15,898 11,060 Total $ 97,335 $ 44,401 Other Current Liabilities The following table presents the detail of other current liabilities (in thousands): March 31, December 31, Settlements payable 16,308 $ 13,105 Employee early exercised stock options 1,663 2,141 Accrued redemptions 1,134 1,066 Current portion of deferred rent 2,569 2,393 Deferred revenue 6,213 6,623 Other 5,851 3,617 Total $ 33,738 $ 28,945 OTHER CONSOLIDATED BALANCE SHEET COMPONENTS (NON-CURRENT) Other Non-Current Assets The following table presents the detail of other non-current assets (in thousands): March 31, December 31, Deposits $ 2,054 $ 1,993 Deferred tax assets 122 188 Other 7,931 1,645 Total $ 10,107 $ 3,826 Other Non-Current Liabilities The following table presents the detail of other non-current liabilities (in thousands): March 31, December 31, Deferred rent $ 25,083 $ 25,543 Employee early exercised stock options 609 1,128 Deferred tax liabilities 299 299 Statutory liabilities 24,214 25,492 Other 48 60 Total $ 50,253 $ 52,522

DEBT

DEBT	3 Months Ended
	Mar. 31, 2016
Debt Disclosure [Abstract]
DEBT	DEBT In November 2015 , the Company entered into a new revolving credit agreement with certain lenders, which extinguished the prior revolving credit agreement, and provided for a $375.0 million revolving secured credit facility maturing in November 2020 . This revolving credit agreement is secured by certain tangible and intangible assets. Loans under the credit facility bear interest, at the Company’s option of (i) a base rate based on the highest of the prime rate, the federal funds rate plus 0.50% and an adjusted LIBOR rate for a one-month interest period in each case plus a margin ranging from 0.00% to 1.00% or (ii) an adjusted LIBOR rate plus a margin ranging from 1.00% to 2.00% . This margin is determined based on the Company’s total leverage ratio for the preceding four fiscal quarters. The Company is obligated to pay other customary fees for a credit facility of this size and type including an annual administrative agent fee of $0.1 million and an unused commitment fee of 0.15% . To date no funds have been drawn under the credit facility, with $375.0 million remaining available. The Company paid $0.1 million in unused commitment fees during the three months ended March 31, 2016 .

ACCRUED TRANSACTION LOSSES

ACCRUED TRANSACTION LOSSES	3 Months Ended
	Mar. 31, 2016
Product Warranties Disclosures [Abstract]
ACCRUED TRANSACTION LOSSES	ACCRUED TRANSACTION LOSSES The Company is exposed to transaction losses due to chargebacks as a result of fraud or uncollectibility. Recoveries are reflected as a reduction in the reserve for transaction losses when the recovery occurs. The following table summarizes the activities of the Company’s reserve for transaction losses (in thousands): Three Months Ended March 31, 2016 2015 Accrued transaction losses, beginning of the period $ 17,176 $ 8,452 Provision for transaction losses 7,182 13,757 Charge-offs and recoveries to accrued transaction losses (8,939 ) (5,398 ) Accrued transaction losses, end of the period $ 15,419 $ 16,811

INCOME TAXES

INCOME TAXES	3 Months Ended
	Mar. 31, 2016
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES The Company recorded an income tax expense of $0.3 million for the three months ended March 31, 2016 , compared to income tax expense of $0.4 million for the three months ended March 31, 2015 . The Company’s effective tax rate was approximately (0.4)% for the three months ended March 31, 2016 , compared to an effective tax rate of (0.9)% for the three months ended March 31, 2015 . The Company’s effective tax rate may be subject to fluctuation during the year as new information is obtained, which may affect the assumptions used to estimate the annual effective tax rate, including factors such as the mix of forecasted pre-tax earnings in the various jurisdictions in which we operate, valuation allowances against deferred tax assets, the recognition and de-recognition of tax benefits related to uncertain tax positions, and changes in or the interpretation of tax laws in jurisdictions where we conduct business. As of March 31, 2016 , the Company retains a full valuation allowance on its deferred tax assets in the U.S. and certain foreign jurisdictions. The realization of the Company’s deferred tax assets depends primarily on its ability to generate taxable income in future periods. The amount of deferred tax assets considered realizable in future periods may change as management continues to reassess the underlying factors it uses in estimating future taxable income. The income tax expense recorded for the three months ended March 31, 2016 , was primarily due to state and foreign income tax expense. The difference between the effective tax rate and the federal statutory tax rate for the three months ended March 31, 2016 , primarily relates to the valuation allowance on the Company’s deferred tax assets. The tax provision for the three months ended March 31, 2016 , was calculated on a jurisdiction basis. We estimated the foreign income tax provision using the effective income tax rate expected to be applicable for the full year.

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY	3 Months Ended
	Mar. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
STOCKHOLDERS' EQUITY	STOCKHOLDERS’ EQUITY Common Stock The Company has authorized the issuance of Class A common stock and Class B common stock. Class A common stock and Class B common stock are referred to as common stock throughout these Notes to the Condensed Consolidated Financial Statements, unless otherwise noted. As of March 31, 2016 , the Company was authorized to issue 1,000,000,000 shares of Class A common stock and 500,000,000 shares of Class B common stock, each with a par value of $0.0000001 per share. As of March 31, 2016 , there were 31,717,133 shares of Class A common stock and 303,553,308 shares of Class B common stock outstanding, each with a par value of $0.0000001 per share. Stock Plans The Company maintains two share-based employee compensation plans: the 2009 Stock Plan (2009 Plan) and the 2015 Equity Incentive Plan (2015 Plan). The 2015 Plan serves as the successor to the 2009 Plan. The 2015 Plan became effective as of November 17, 2015. Outstanding awards under the 2009 Plan continue to be subject to the terms and conditions of the 2009 Plan. Under the 2015 Plan, shares of common stock are reserved for the issuance of incentive and nonstatutory stock options, restricted stock awards, restricted stock units (RSUs), performance shares and stock bonuses to qualified employees, directors and consultants. The shares may be granted at a price per share not less than the fair market value at the date of grant. Initially, 30,000,000 shares were reserved under the 2015 Plan and any shares subject to options or other similar awards granted under the 2009 Plan that expire, are forfeited, are repurchased by the Company or otherwise terminate unexercised will become available under the 2015 Plan. The number of shares available for issuance under the 2015 Plan will be increased on the first day of each fiscal year, in an amount equal to the least of (i) 40,000,000 shares, (ii) 5% of the outstanding shares on the last day of the immediately preceding fiscal year or (iii) such number of shares determined by the Company’s board of directors. As of March 31, 2016 , the total number of shares subject to stock options and RSUs outstanding under the 2015 Plan was 8,395,459 , and 42,414,446 shares were available for future issuance. As of March 31, 2016 , the total number of shares subject to stock options and RSUs outstanding under the 2009 Plan was 101,516,657 . As of November 17, 2015, no additional securities will be issued under 2009 Plan. A summary of stock option activity for the three months ended March 31, 2016 is as follows (in thousands, except share and per share data): Number of Stock Options Outstanding Weighted Weighted Aggregate Balance at December 31, 2015 107,515,554 $ 6.99 7.87 $ 656,194 Granted 20,700 9.77 Exercised (327,976 ) 1.73 Forfeited (3,801,721 ) $ 12.03 Balance at March 31, 2016 103,406,557 6.82 7.72 874,966 Options vested and expected to vest at March 31, 2016 95,493,312 6.51 7.29 837,620 Options exercisable at March 31, 2016 100,569,757 6.76 7.67 857,167 Restricted Stock Activity The Company issued RSUs to certain employees in fiscal year 2015. These RSUs typically vest over a term of four years. Activity related to RSUs during the three months ended March 31, 2016 is set forth below: Number of Weighted Unvested at December 31, 2015 3,632,765 $ 13.14 Granted 3,040,950 11.29 Forfeited (168,156 ) $ 13.61 Unvested at March 31, 2016 6,505,559 $ 12.26 Share-Based Compensation The fair value of stock options and employee stock purchase plan shares granted to employees is estimated on the date of grant using the Black-Scholes-Merton option valuation model. Effective August 31, 2015, the Company modified all of its nonstatutory stock option grants to extend the exercise term for terminated employees who have completed two years of service. In the event of a termination, the modified expiration date will be the earlier of (i) three years from termination or (ii) one year following an initial public offering, if in each case, the date of termination occurs between August 31, 2015 and the nine-month anniversary of the initial public offering. In all cases, the grants remain subject to earlier expiration in accordance with their original terms. During the three months ended March 31, 2016 , share-based compensation expense included $0.7 million related to the vested portion of the impacted options, as a result of the modification. The Company will incur an additional $7.4 million of share-based compensation expense over the remaining vesting periods of the impacted options. The fair value of stock options granted was estimated using the following weighted-average assumptions: Three Months Ended March 31, 2016 2015 Dividend yield — % — % Risk-free interest rate 1.39 % 1.63 % Expected volatility 43 % 54 % Expected term (years) 6.08 6.15 The following table summarizes the effects of share-based compensation on the Company's condensed consolidated statements of operations (in thousands): Three Months Ended March 31, 2016 2015 Product development $ 21,947 $ 8,958 Sales and marketing 2,903 1,429 General and administrative 6,348 3,074 Total $ 31,198 $ 13,461 On November 17, 2015, the Company’s 2015 Employee Stock Purchase Plan (ESPP) became effective. During the three months ended March 31, 2016 , the Company recorded $1.5 million of share-based compensation expense related to the ESPP, which is included in the table above. There was no similar activity during the three months ended March 31, 2015 . As of March 31, 2016 , there was $241.6 million of total unrecognized compensation cost related to outstanding stock options that is expected to be recognized over a weighted-average period of 2.86 years .

LOSS PER SHARE

LOSS PER SHARE	3 Months Ended
	Mar. 31, 2016
Earnings Per Share [Abstract]
LOSS PER SHARE	LOSS PER SHARE Basic net loss per share is computed by dividing the net loss by the weighted-average number of shares of common stock outstanding during the period. Diluted loss per share is the same as basic loss per share for all years presented because the effects of potentially dilutive items were anti-dilutive given the Company’s net loss. The following table presents the calculation of basic and diluted net loss per share (in thousands, except per share data): Three Months Ended March 31, 2016 2015 Net loss $ (96,755 ) $ (47,978 ) Basic shares: Weighted-average common shares outstanding 335,177 151,171 Weighted-average unvested shares (3,853 ) (6,102 ) Weighted-average shares used to compute basic net loss per share 331,324 145,069 Diluted shares: Weighted-average shares used to compute diluted loss per share 331,324 145,069 Net loss per share: Basic $ (0.29 ) $ (0.33 ) Diluted $ (0.29 ) $ (0.33 ) The following potential common shares were excluded from the calculation of diluted net loss per share because their effect would have been anti-dilutive for the periods presented (in thousands): Three Months Ended March 31, 2016 2015 Stock options and restricted stock units 109,912 90,583 Common stock warrants 9,544 15,762 Preferred stock warrants — 87 Convertible preferred stock — 135,253 Unvested shares 3,428 6,450 Employee stock purchase plan 635 — Total anti-dilutive securities 123,519 248,135

OTHER INCOME AND EXPENSE, NET

OTHER INCOME AND EXPENSE, NET	3 Months Ended
	Mar. 31, 2016
Other Income and Expenses [Abstract]
OTHER INCOME AND EXPENSE, NET	OTHER INCOME AND EXPENSE, NET Other income and expense, net, is comprised of the following (in thousands): Three Months Ended March 31, 2016 2015 Net (gain) loss on foreign exchange $ (897 ) $ 771 Other 111 25 Total other (income) and expense, net $ (786 ) $ 796

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	3 Months Ended
	Mar. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Operating and Capital Leases The Company has entered into various non-cancelable operating leases for certain offices with contractual lease periods expiring between 2014 and 2025 . The Company recognized total rental expenses under operating leases of $2.8 million for the three months ended March 31, 2016 , compared to $3.4 million for the three months ended March 31, 2015 . Future minimum lease payments under non-cancelable operating leases (with initial or remaining lease terms in excess of one year) and future minimum capital lease payments as of March 31, 2016 are as follows (in thousands): Capital Operating Year: 2016 (remaining 9 months) $ 49 $ 11,598 2017 50 15,607 2018 7 15,379 2019 — 15,414 2020 — 15,590 Thereafter — 51,629 Total $ 106 $ 125,217 Less amount representing interest (5 ) Present value of capital lease obligations 101 Less current portion of capital lease obligation (61 ) Non-current portion of capital lease obligation $ 40 Litigation The Company is currently a party to, and may in the future be involved in, various litigation matters (including intellectual property litigation), legal claims, and government investigations. Notably, the Company is currently involved in ongoing legal proceedings with Robert E. Morley and REM Holdings 3, LLC (REM). In two related proceedings, the Company is litigating disputes over certain patents and over Mr. Morley’s early involvement in the business enterprise that became Square. On December 1, 2010, the Company, along with its co-founder Jim McKelvey, filed a complaint (2010 Complaint) in the United States District Court for the Eastern District of Missouri (District Court), which, as amended, concerns the inventorship, ownership, implied license, non-infringement, invalidity, and unenforceability of three patents: U.S. Patent Nos. 7,918,394 (‘394 Patent), 7,810,729 (‘729 Patent), and 7,896,248 (‘248 Patent). All three patents are in a single patent family directed to card reader technology. The patents, which the U.S. Patent and Trademark Office (PTO) granted in 2010 and 2011, name Mr. Morley as the sole inventor and REM as their assignee of rights. The 2010 Complaint sought to add Mr. McKelvey as a named inventor of those patents given his significant contributions to the claimed inventions. REM counterclaimed, alleging infringement by Square of the three patents, and the Company subsequently requested that the PTO reexamine those patents. On January 17, 2012, the PTO issued a reexamination certificate invalidating the entirety of the ‘394 Patent. With the ‘394 Patent invalidated, two patents remained for consideration by the PTO: the ‘729 Patent and the ‘248 Patent. In April 2012, the PTO reexamination examiner closed prosecution on those two patents, rejecting all of the claims of the ‘729 Patent and 13 of the 20 claims of the ‘248 Patent as invalid in view of prior art. REM appealed the reexamination examiner’s rejections on these two remaining patents to the Patent Office Trial and Appeals Board (PTAB), and the Company appealed to have the PTAB reject the remaining seven claims of the ‘248 Patent and to recognize additional grounds for rejection of the previously rejected ‘248 Patent and ‘729 Patent claims. In March 2014, the PTAB issued a decision in the Company's favor, affirming the rejection of all claims of the ‘729 Patent, affirming the rejection of the 13 claims of the ‘248 Patent, and ruling that the reexamination examiner should also reject the remaining seven claims of the ‘248 Patent (having so ruled, the PTAB did not need to consider additional grounds for rejecting the ‘248 and ‘729 Patent claims). Following the PTAB’s ruling, REM filed a response on the ‘248 Patent, substantially amending (i.e., adding new limitations to) five of the seven claims the PTAB had found to be unpatentable. On June 5, 2015, the PTO reexamination examiner, having considered the newly amended claims on remand, issued a preliminary determination that the new limitations allowed those five dependent claims to overcome the grounds for the PTAB’s rejection ruling. The PTO reexamination examiner noted, however, that at least four of the five new claims were still unpatentable because they were indefinite, impermissibly broad, or lacked support in the specification. Additionally, on September 8, 2015, REM filed a notice of appeal at the Court of Appeals for the Federal Circuit challenging the PTAB’s decision regarding the ‘729 Patent. The Company's arguments with respect to the remaining claims of the ‘248 Patent at the PTAB and the appeal by REM with respect to the ‘729 Patent are still pending, and the Company intends to pursue them vigorously. With the exception of these five more recently amended claims, which have not yet progressed beyond preliminary reexamination examiner review, all of the claims from all three patents asserted in the 2010 Complaint have either been canceled or otherwise found unpatentable by the PTAB. On January 30, 2014, three weeks after the PTAB hearing that resulted in the rejection of all of Mr. Morley’s and REM’s remaining claims of the patents in the 2010 Complaint, Mr. Morley and REM filed a complaint against the Company and against Jack Dorsey and Mr. McKelvey, in the District Court, alleging that the formation of Square and the development of the Company's card reader and decoding technologies constituted, among other things, breach of an alleged joint venture, fraud, negligent misrepresentation, civil conspiracy, unjust enrichment, and misappropriation of trade secrets, as well as other related claims (2014 Complaint). Mr. Morley contends as part of his alleged joint venture claim, among others, that he was an equal partner with Mr. Dorsey and Mr. McKelvey in the business enterprise that ultimately evolved into Square, and that Mr. Dorsey and Mr. McKelvey breached their alleged joint venture agreement with Mr. Morley by excluding him from ownership in Square. Mr. Morley claims that to the extent the defendants contend that no joint venture was formed, Mr. McKelvey and Mr. Dorsey committed fraud, negligent misrepresentation, and/or fraudulent nondisclosure. The 2014 Complaint also alleges infringement of another patent related to the ‘248, ‘394, and ‘729 Patents, U.S. Patent No. 8,584,946 (‘946 Patent). Mr. Morley is seeking a judgment and order that Square, Mr. Dorsey, and Mr. McKelvey hold ownership of Square in constructive trust for Mr. Morley, as well as a variety of additional damages, injunctive relief, royalties, and correction of inventorship of certain of the Company's patents. Even prior to the filing of the 2014 Complaint, on December 31, 2013, the Company had filed a petition at the PTAB requesting inter partes review (IPR) proceedings to invalidate the ‘946 Patent. On July 7, 2015, the PTAB issued a decision on the IPR, rejecting 12 of the 17 claims of the ‘946 patent, including all independent claims, to be invalid based on prior art. On November 20, 2015, the PTAB rejected two additional claims of the ‘946 patent in response to the Company's request for rehearing. Consequently, 14 of the 17 claims of the ‘946 patent stand rejected. On February 9, 2016, the Company filed an ex parte reexamination request at the patent office to invalidate the three remaining claims of the ‘946 patent. On March 30, 2016, the patent office granted the Company's request and instituted reexamination on all three claims. The Company moved to consolidate the 2014 Complaint with the 2010 Complaint (the Complaints), and the District Court granted the Company's motion on July 16, 2014. The Company moved to dismiss certain claims as time barred under California and Delaware law, and the District Court denied the motion on October 16, 2014, applying Missouri law. The Company moved to stay counts of the 2014 Complaint related to alleged infringement of the ‘946 Patent and inventorship of certain of its patents, pending the ongoing PTO proceedings, and on April 2, 2015, the District Court granted the Company's motion to stay. The District Court has issued a scheduling order that sets forth the current expected schedule of important events in the proceedings, but no assurances can be given that the schedule will not change. A two-week trial is currently scheduled for June 13, 2016. The Company is vigorously defending against the Complaints. Notably, the Company filed a Motion for Summary Judgment on January 20, 2016. On April 22, 2016, the District Court denied the Company's Motion for Summary Judgment. The Company recently signed a binding term sheet with Mr. Morley and REM stipulating the material terms of a settlement. While the final definitive agreement has not yet been finalized, the Company recorded a charge of $50.0 million in general and administrative expenses for three months ended March 31, 2016. Until the Company enters into a final definitive agreement, the Company can make no assurances about the specific settlement terms, including monetary and nonmonetary terms. Additionally, the Company is involved in a class action lawsuit concerning independent contractors in connection with the Company's Caviar business. On March 19, 2015, Jeffry Levin, on behalf of a putative nationwide class, filed a lawsuit in the Northern District of California against the Company's wholly owned subsidiary, Caviar, Inc., which, as amended, alleges that Caviar misclassified Mr. Levin and other similarly situated couriers as independent contractors and, in doing so, violated various provisions of the California Labor Code and California Business and Professions Code by requiring them to pay various business expenses that should have been borne by Caviar. Mr. Levin also sought an award of penalties pursuant to the Labor Code Private Attorneys General Act of 2004 on behalf of the putative class. On March 29, 2016, the Court entered a Notice of Intent to Dismiss the lawsuit, and on May 2, 2016, the Court dismissed the lawsuit in its entirety. The parties stipulated that certain dismissed claims may be pursued by a different courier, if plaintiff's counsel so chooses. In addition, from time to time, the Company is involved in various other litigation matters and disputes arising in the ordinary course of business. While it is not feasible to predict or determine the ultimate outcome of these matters, the Company believes that none of the Company's current legal proceedings will have a material adverse effect on the Company's business.

SEGMENT AND GEOGRAPHIC INFORMAT

SEGMENT AND GEOGRAPHIC INFORMATION	3 Months Ended
	Mar. 31, 2016
Segment Reporting [Abstract]
SEGMENT AND GEOGRAPHIC INFORMATION	SEGMENT AND GEOGRAPHICAL INFORMATION Operating segments are defined as components of an enterprise for which discrete financial information is available that is evaluated regularly by the chief operating decision maker (CODM) for purposes of allocating resources and evaluating financial performance. The Company’s CODM reviews financial information presented on a consolidated basis for purposes of allocating resources and evaluating financial performance. As such, the Company’s operations constitute a single operating segment and one reportable segment. Revenue Revenue by geography is based on the billing addresses of the merchants. The following table sets forth revenue by geographic area (in thousands): Three Months Ended March 31, 2016 2015 Revenue United States $ 367,164 $ 242,955 International 12,105 7,602 Total net revenue $ 379,269 $ 250,557 No individual country from the international markets contributed in excess of 10% of total revenue for three months ended March 31, 2016 , and 2015 . Long-Lived Assets The following table sets forth long-lived assets by geographic area (in thousands): March 31, December 31, Long-lived assets United States $ 166,670 $ 168,583 International 3,531 2,114 Total long-lived assets $ 170,201 $ 170,697

SUPPLEMENTAL CASH FLOW INFORMAT

SUPPLEMENTAL CASH FLOW INFORMATION	3 Months Ended
	Mar. 31, 2016
Supplemental Cash Flow Elements [Abstract]
SUPPLEMENTAL CASH FLOW INFORMATION	SUPPLEMENTAL CASH FLOW INFORMATION The supplemental disclosures of cash flow information consist of the following (in thousands): Three Months Ended March 31, 2016 2015 Supplemental Cash Flow Data: Cash paid for interest $ 142 $ 418 Cash paid for income taxes 220 420 Supplemental disclosures of non-cash investing and financing activities: Change in purchases of property and equipment in accounts payable and accrued expenses (657 ) 3,662 Unpaid offering costs related to initial public offering 124 — Fair value of shares issued related to acquisitions — 22,887

DESCRIPTION OF BUSINESS AND S26

DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Mar. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	The accompanying interim condensed consolidated financial statements of the Company are unaudited. These interim condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (U.S. GAAP) and the applicable rules and regulations of the Securities and Exchange Commission (SEC) for interim financial information. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. The December 31, 2015 , condensed consolidated balance sheet was derived from the audited financial statements as of that date, but does not include all of the information and footnotes required by U.S. GAAP for complete financial statements. The accompanying unaudited interim condensed consolidated financial statements have been prepared on the same basis as the audited consolidated financial statements and, in the opinion of management, reflect all adjustments of a normal recurring nature considered necessary to state fairly the Company's financial position, results of operations, comprehensive loss, and cash flows for the interim periods. All intercompany transactions and balances have been eliminated in consolidation. The interim results for the three months ended March 31, 2016 are not necessarily indicative of the results that may be expected for the year ending December 31, 2016 , or for any other future annual or interim period. The information included in this Quarterly Report on Form 10-Q should be read in conjunction with “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” “Quantitative and Qualitative Disclosures About Market Risk,” and the Consolidated Financial Statements and notes thereto included in Items 7, 7A, and 8, respectively, in the Company's Annual Report on Form 10-K for the year ended December 31, 2015 .
Use of Estimates	The preparation of the Company’s consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenue and expenses, as well as related disclosure of contingent assets and liabilities. Actual results could differ from the Company’s estimates. To the extent that there are material differences between these estimates and actual results, the Company’s financial condition or operating results will be materially affected. The Company bases its estimates on past experience and other assumptions that the Company believes are reasonable under the circumstances, and the Company evaluates these estimates on an ongoing basis. Significant estimates, judgments and assumptions in these consolidated financial statements include, but are not limited to, those related to revenue recognition, accrued transaction losses, provision for uncollectible receivables related to merchant cash advances (MCAs), business combinations, goodwill and intangible assets, income taxes, and share-based compensation.
Concentration of Credit Risk	The Company places its cash and cash equivalents and investments in marketable securities with large, creditworthy financial institutions. Balances in these accounts may exceed federally insured limits at times.
Recently Issued Accounting Standards	Recently Issued Accounting Standards In March 2016, the FASB issued ASU No. 2016-04, Recognition of Breakage for Certain Prepaid Stored-Value Products. This guidance specifies how prepaid stored-value product liabilities should be derecognized, thereby eliminating the current and potential future diversity in practice. This guidance is effective for financial statements issued for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years, with early adoption permitted. The Company is currently evaluating the impact this new guidance may have on the consolidated financial statements. In March 2016, the FASB issued ASU No. 2016-08, Principal versus Agent Considerations, which provides implementation guidance on principal versus agent considerations in the new revenue recognition standard. This guidance clarifies how an entity should identify the unit of accounting (i.e., the specified good or service) for the principal versus agent evaluation and how it should apply the control principle to certain types of arrangements. This guidance is effective for financial statements issued for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years, with early adoption permitted. The Company is currently evaluating the impact this new guidance may have on the consolidated financial statements. In March 2016, the FASB issued ASU No. 2016-09, Improvements to Employee Share-Based Payment Accounting , which is intended to simplify several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. This guidance is effective for financial statements issued for fiscal years beginning after December 15, 2016, and interim periods within those fiscal years, with early adoption permitted. The Company is currently evaluating the impact this new guidance may have on the consolidated financial statements.

FAIR VALUE OF FINANCIAL INSTR27

FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)	3 Months Ended
	Mar. 31, 2016
Fair Value Disclosures [Abstract]
Schedule of Fair Value, Assets Measured on Recurring Basis	The Company’s financial assets and liabilities that are measured at fair value on a recurring basis are classified as follows (in thousands): March 31, 2016 December 31, 2015 Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Cash and Cash Equivalents: Money market funds $ 224,602 $ — $ — $ 337,234 $ — $ — U.S. agency securities — 2,500 — — — — Commercial paper — 5,346 — — — — Municipal securities — 1,672 — — — — Short-term securities: U.S. agency securities — 8,484 — — — — Corporate bonds — 4,543 — — — — Commercial paper — 20,430 — — — — U.S. government securities 9,990 — — — — — Long-term securities: — — — U.S. agency securities — 7,662 — — — — Corporate bonds — 5,908 — — — — U.S. government securities 16,145 — — — — — Total $ 250,737 $ 56,545 $ — $ 337,234 $ — $ —

INVESTMENTS (Tables)

INVESTMENTS (Tables)	3 Months Ended
	Mar. 31, 2016
Investments, Debt and Equity Securities [Abstract]
Available-for-sale Securities	The Company's short-term and long-term investments as of March 31, 2016 are as follows (in thousands): Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Short-term securities: U.S. agency securities $ 8,479 $ 5 $ — $ 8,484 Corporate bonds 4,543 5 (5 ) 4,543 Commercial paper 20,430 — — 20,430 U.S. government securities 9,985 5 — 9,990 Total $ 43,437 $ 15 $ (5 ) $ 43,447 Long-term securities: U.S. agency securities $ 7,641 $ 21 $ — $ 7,662 Corporate bonds 5,901 7 — 5,908 U.S. government securities 16,107 38 — 16,145 Total $ 29,649 $ 66 $ — $ 29,715
Investments Classified by Contractual Maturity Date	The contractual maturities of the Company's short-term and long-term investments as of March 31, 2016 , are as follows (in thousands): Amortized Cost Fair Value Due in one year or less $ 43,437 $ 43,447 Due in one to five years 29,649 29,715 Total $ 73,086 $ 73,162

MERCHANT CASH ADVANCE RECEIVA29

MERCHANT CASH ADVANCE RECEIVABLE, NET (Tables)	3 Months Ended
	Mar. 31, 2016
Receivables [Abstract]
Schedule of Allowance for Uncollectible Merchant Cash Advance Receivables	The following table summarizes the activities of the Company’s allowance for uncollectible receivables (in thousands): Three Months Ended March 31, 2016 2015 Allowance for uncollectible receivables, beginning of the period $ 7,443 $ 2,431 Provision for uncollectible receivables 73 2,504 Receivables charged off (58 ) — Allowance for uncollectible receivables, end of the period $ 7,458 $ 4,935

PROPERTY AND EQUIPMENT, NET (Ta

PROPERTY AND EQUIPMENT, NET (Tables)	3 Months Ended
	Mar. 31, 2016
Property, Plant and Equipment [Abstract]
Schedule of Property, Equipment, and Internally Developed Software	The following is a summary of property, equipment, and internally-developed software at cost, less accumulated depreciation and amortization (in thousands): March 31, December 31, Computer equipment $ 46,751 $ 43,531 Office furniture and equipment 9,400 9,339 Leasehold improvements 67,714 65,298 Capitalized software 17,209 14,533 Construction in process 61 490 Total 141,135 133,191 Less: Accumulated depreciation and amortization (52,096 ) (45,969 ) Property and equipment, net $ 89,039 $ 87,222

ACQUIRED INTANGIBLE ASSETS (Tab

ACQUIRED INTANGIBLE ASSETS (Tables)	3 Months Ended
	Mar. 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Finite Lived Intangible Assets	The following table presents the detail of acquired intangible assets as of the periods presented (in thousands): Balance at March 31, 2016 Cost Accumulated Amortization Net Patent $ 1,285 $ (374 ) $ 911 Technology Assets 29,045 (9,014 ) 20,031 Customer Assets 6,645 (3,124 ) 3,521 Total $ 36,975 $ (12,512 ) $ 24,463 Balance at December 31, 2015 Cost Accumulated Amortization Net Patent $ 1,285 $ (348 ) $ 937 Technology Assets 28,645 (6,644 ) 22,001 Customer Assets 6,645 (2,807 ) 3,838 Total $ 36,575 $ (9,799 ) $ 26,776
Schedule of Annual Future Amortization Expense of Intangible Assets	The total estimated annual future amortization expense of these intangible assets as of March 31, 2016 , are as follows (in thousands): 2016 (remaining 9 months) $ 6,259 2017 7,187 2018 5,687 2019 2,983 2020 1,087 Thereafter 1,260 Total $ 24,463

OTHER BALANCE SHEET COMPONENT32

OTHER BALANCE SHEET COMPONENTS (CURRENT) (Tables)	3 Months Ended
	Mar. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Other Current Assets	The following table presents the detail of other current assets (in thousands): March 31, December 31, Accounts receivable $ 3,268 $ 4,808 Prepaid expenses 12,789 7,101 Deferred reader costs 3,218 4,018 Inventory 14,878 11,864 Tenant improvement reimbursement receivable 2,054 1,788 Deferred hardware costs 2,559 1,709 Processing costs receivable 10,037 7,847 Other 6,408 2,916 Total $ 55,211 $ 42,051
Schedule of Accrued Expenses	The following table presents the detail of accrued expenses (in thousands): March 31, December 31, Accrued hardware costs $ 2,656 $ 11,622 Processing costs payable 14,651 11,417 Accrued professional fees 7,637 7,642 Accrued payroll 6,493 2,660 Litigation accrual 50,000 — Other accrued liabilities 15,898 11,060 Total $ 97,335 $ 44,401
Schedule of Other Current Liabilities	The following table presents the detail of other current liabilities (in thousands): March 31, December 31, Settlements payable 16,308 $ 13,105 Employee early exercised stock options 1,663 2,141 Accrued redemptions 1,134 1,066 Current portion of deferred rent 2,569 2,393 Deferred revenue 6,213 6,623 Other 5,851 3,617 Total $ 33,738 $ 28,945

OTHER CONSOLIDATED BALANCE SH33

OTHER CONSOLIDATED BALANCE SHEET COMPONENTS (NON-CURRENT) (Tables)	3 Months Ended
	Mar. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Other Non-Current Assets	The following table presents the detail of other non-current assets (in thousands): March 31, December 31, Deposits $ 2,054 $ 1,993 Deferred tax assets 122 188 Other 7,931 1,645 Total $ 10,107 $ 3,826
Schedule of Other Non-current Liabilities	The following table presents the detail of other non-current liabilities (in thousands): March 31, December 31, Deferred rent $ 25,083 $ 25,543 Employee early exercised stock options 609 1,128 Deferred tax liabilities 299 299 Statutory liabilities 24,214 25,492 Other 48 60 Total $ 50,253 $ 52,522

ACCRUED TRANSACTION LOSSES (Tab

ACCRUED TRANSACTION LOSSES (Tables)	3 Months Ended
	Mar. 31, 2016
Product Warranties Disclosures [Abstract]
Schedule of Reserve for Transaction Losses	The following table summarizes the activities of the Company’s reserve for transaction losses (in thousands): Three Months Ended March 31, 2016 2015 Accrued transaction losses, beginning of the period $ 17,176 $ 8,452 Provision for transaction losses 7,182 13,757 Charge-offs and recoveries to accrued transaction losses (8,939 ) (5,398 ) Accrued transaction losses, end of the period $ 15,419 $ 16,811

STOCKHOLDERS' EQUITY (Tables)

STOCKHOLDERS' EQUITY (Tables)	3 Months Ended
	Mar. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Summary of Stock Option Activity	A summary of stock option activity for the three months ended March 31, 2016 is as follows (in thousands, except share and per share data): Number of Stock Options Outstanding Weighted Weighted Aggregate Balance at December 31, 2015 107,515,554 $ 6.99 7.87 $ 656,194 Granted 20,700 9.77 Exercised (327,976 ) 1.73 Forfeited (3,801,721 ) $ 12.03 Balance at March 31, 2016 103,406,557 6.82 7.72 874,966 Options vested and expected to vest at March 31, 2016 95,493,312 6.51 7.29 837,620 Options exercisable at March 31, 2016 100,569,757 6.76 7.67 857,167
Schedule of RSU Activity	Activity related to RSUs during the three months ended March 31, 2016 is set forth below: Number of Weighted Unvested at December 31, 2015 3,632,765 $ 13.14 Granted 3,040,950 11.29 Forfeited (168,156 ) $ 13.61 Unvested at March 31, 2016 6,505,559 $ 12.26
Schedule of Fair Value Assumptions for Options	The fair value of stock options granted was estimated using the following weighted-average assumptions: Three Months Ended March 31, 2016 2015 Dividend yield — % — % Risk-free interest rate 1.39 % 1.63 % Expected volatility 43 % 54 % Expected term (years) 6.08 6.15
Summary of the Effect of Share-Based Compensation on the Condensed Consolidated Statement of Operations	The following table summarizes the effects of share-based compensation on the Company's condensed consolidated statements of operations (in thousands): Three Months Ended March 31, 2016 2015 Product development $ 21,947 $ 8,958 Sales and marketing 2,903 1,429 General and administrative 6,348 3,074 Total $ 31,198 $ 13,461

LOSS PER SHARE (Tables)

LOSS PER SHARE (Tables)	3 Months Ended
	Mar. 31, 2016
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	The following table presents the calculation of basic and diluted net loss per share (in thousands, except per share data): Three Months Ended March 31, 2016 2015 Net loss $ (96,755 ) $ (47,978 ) Basic shares: Weighted-average common shares outstanding 335,177 151,171 Weighted-average unvested shares (3,853 ) (6,102 ) Weighted-average shares used to compute basic net loss per share 331,324 145,069 Diluted shares: Weighted-average shares used to compute diluted loss per share 331,324 145,069 Net loss per share: Basic $ (0.29 ) $ (0.33 ) Diluted $ (0.29 ) $ (0.33 )
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	The following potential common shares were excluded from the calculation of diluted net loss per share because their effect would have been anti-dilutive for the periods presented (in thousands): Three Months Ended March 31, 2016 2015 Stock options and restricted stock units 109,912 90,583 Common stock warrants 9,544 15,762 Preferred stock warrants — 87 Convertible preferred stock — 135,253 Unvested shares 3,428 6,450 Employee stock purchase plan 635 — Total anti-dilutive securities 123,519 248,135

OTHER INCOME AND EXPENSE, NET (

OTHER INCOME AND EXPENSE, NET (Tables)	3 Months Ended
	Mar. 31, 2016
Other Income and Expenses [Abstract]
Schedule of Other Nonoperating Income (Expense)	Other income and expense, net, is comprised of the following (in thousands): Three Months Ended March 31, 2016 2015 Net (gain) loss on foreign exchange $ (897 ) $ 771 Other 111 25 Total other (income) and expense, net $ (786 ) $ 796

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	3 Months Ended
	Mar. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
Schedule of Future Payments Under Operating and Capital Leases	Future minimum lease payments under non-cancelable operating leases (with initial or remaining lease terms in excess of one year) and future minimum capital lease payments as of March 31, 2016 are as follows (in thousands): Capital Operating Year: 2016 (remaining 9 months) $ 49 $ 11,598 2017 50 15,607 2018 7 15,379 2019 — 15,414 2020 — 15,590 Thereafter — 51,629 Total $ 106 $ 125,217 Less amount representing interest (5 ) Present value of capital lease obligations 101 Less current portion of capital lease obligation (61 ) Non-current portion of capital lease obligation $ 40

SEGMENT AND GEOGRAPHICAL INFORM

SEGMENT AND GEOGRAPHICAL INFORMATION (Tables)	3 Months Ended
	Mar. 31, 2016
Segment Reporting [Abstract]
Revenue from External Customers by Geographic Areas	Revenue by geography is based on the billing addresses of the merchants. The following table sets forth revenue by geographic area (in thousands): Three Months Ended March 31, 2016 2015 Revenue United States $ 367,164 $ 242,955 International 12,105 7,602 Total net revenue $ 379,269 $ 250,557
Long-lived Assets by Geographic Areas	The following table sets forth long-lived assets by geographic area (in thousands): March 31, December 31, Long-lived assets United States $ 166,670 $ 168,583 International 3,531 2,114 Total long-lived assets $ 170,201 $ 170,697

SUPPLEMENTAL CASH FLOW INFORM40

SUPPLEMENTAL CASH FLOW INFORMATION (Tables)	3 Months Ended
	Mar. 31, 2016
Supplemental Cash Flow Elements [Abstract]
Schedule of Cash Flow, Supplemental Disclosures	The supplemental disclosures of cash flow information consist of the following (in thousands): Three Months Ended March 31, 2016 2015 Supplemental Cash Flow Data: Cash paid for interest $ 142 $ 418 Cash paid for income taxes 220 420 Supplemental disclosures of non-cash investing and financing activities: Change in purchases of property and equipment in accounts payable and accrued expenses (657 ) 3,662 Unpaid offering costs related to initial public offering 124 — Fair value of shares issued related to acquisitions — 22,887

DESCRIPTION OF BUSINESS AND S41

DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES IPO (Details) - IPO $ / shares in Units, $ in Millions	1 Months Ended
	Nov. 30, 2015USD ($)$ / sharesshares
Class of Stock [Line Items]
Proceeds from issuance initial public offering	$ 245.7
Payments of underwriting discounts and commissions	14.7
Payments of other offering expenses	$ 6.9
Class A
Class of Stock [Line Items]
Shares issued | shares	29,700,000
Shares issued, price per share (in USD per share) | $ / shares	$ 9
Shares sold by stockholder | shares	1,350,000

DESCRIPTION OF BUSINESS AND S42

DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Concentration of Credit Risk (Details)	3 Months Ended		12 Months Ended
	Mar. 31, 2016customerthird_party_processor	Mar. 31, 2015customer	Dec. 31, 2015third_party_processor
Total net revenue | Customer Concentration Risk
Concentration Risk [Line Items]
Number of customers | customer	1	1
Concentration risk, percentage (more than 10%)	10.00%
Settlements Receivable | Credit Concentration Risk
Concentration Risk [Line Items]
Number of third party processors | third_party_processor	3		3
Third Party Processor One | Settlements Receivable | Credit Concentration Risk
Concentration Risk [Line Items]
Concentration risk, percentage (more than 10%)	48.00%		56.00%
Third Party Processor Two | Settlements Receivable | Credit Concentration Risk
Concentration Risk [Line Items]
Concentration risk, percentage (more than 10%)	34.00%		23.00%
Third Party Processor Three | Settlements Receivable | Credit Concentration Risk
Concentration Risk [Line Items]
Concentration risk, percentage (more than 10%)	15.00%		16.00%

RESTRICTED CASH (Details)

RESTRICTED CASH (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Cash and Cash Equivalents [Abstract]
Pledged cash	$ 13,542	$ 13,537
Collateral	$ 14,994	$ 14,686

FAIR VALUE OF FINANCIAL INSTR44

FAIR VALUE OF FINANCIAL INSTRUMENTS Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	$ 43,447	$ 0
Available-for-sale securities	29,715	0
Fair Value, Measurements, Recurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	250,737	337,234
Fair Value, Measurements, Recurring | Level 1 | U.S. agency securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	0	0
Available-for-sale securities	0	0
Fair Value, Measurements, Recurring | Level 1 | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	0	0
Available-for-sale securities	0	0
Fair Value, Measurements, Recurring | Level 1 | Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	0	0
Fair Value, Measurements, Recurring | Level 1 | U.S. government securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	9,990	0
Available-for-sale securities	16,145	0
Fair Value, Measurements, Recurring | Level 1 | Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	224,602	337,234
Fair Value, Measurements, Recurring | Level 1 | U.S. agency securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	0	0
Fair Value, Measurements, Recurring | Level 1 | Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	0	0
Fair Value, Measurements, Recurring | Level 1 | Municipal securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	0	0
Fair Value, Measurements, Recurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	56,545	0
Fair Value, Measurements, Recurring | Level 2 | U.S. agency securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	8,484	0
Available-for-sale securities	7,662	0
Fair Value, Measurements, Recurring | Level 2 | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	4,543	0
Available-for-sale securities	5,908	0
Fair Value, Measurements, Recurring | Level 2 | Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	20,430	0
Fair Value, Measurements, Recurring | Level 2 | U.S. government securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	0	0
Available-for-sale securities	0	0
Fair Value, Measurements, Recurring | Level 2 | Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	0	0
Fair Value, Measurements, Recurring | Level 2 | U.S. agency securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	2,500	0
Fair Value, Measurements, Recurring | Level 2 | Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	5,346	0
Fair Value, Measurements, Recurring | Level 2 | Municipal securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	1,672	0
Fair Value, Measurements, Recurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	0	0
Fair Value, Measurements, Recurring | Level 3 | U.S. agency securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	0	0
Available-for-sale securities	0	0
Fair Value, Measurements, Recurring | Level 3 | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	0	0
Available-for-sale securities	0	0
Fair Value, Measurements, Recurring | Level 3 | Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	0	0
Fair Value, Measurements, Recurring | Level 3 | U.S. government securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	0	0
Available-for-sale securities	0	0
Fair Value, Measurements, Recurring | Level 3 | Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	0	0
Fair Value, Measurements, Recurring | Level 3 | U.S. agency securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	0	0
Fair Value, Measurements, Recurring | Level 3 | Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	0	0
Fair Value, Measurements, Recurring | Level 3 | Municipal securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	$ 0	$ 0

INVESTMENTS Available for Sale

INVESTMENTS Available for Sale Securities (Details) $ in Thousands	Mar. 31, 2016USD ($)
Schedule of Available-for-sale Securities [Line Items]
Total	$ 73,086
Fair Value	73,162
Short-term Investments
Schedule of Available-for-sale Securities [Line Items]
Total	43,437
Gross Unrealized Gains	15
Gross Unrealized Losses	(5)
Fair Value	43,447
Long-term Investments
Schedule of Available-for-sale Securities [Line Items]
Total	29,649
Gross Unrealized Gains	66
Gross Unrealized Losses	0
Fair Value	29,715
U.S. agency securities | Short-term Investments
Schedule of Available-for-sale Securities [Line Items]
Total	8,479
Gross Unrealized Gains	5
Gross Unrealized Losses	0
Fair Value	8,484
U.S. agency securities | Long-term Investments
Schedule of Available-for-sale Securities [Line Items]
Total	7,641
Gross Unrealized Gains	21
Gross Unrealized Losses	0
Fair Value	7,662
Corporate bonds | Short-term Investments
Schedule of Available-for-sale Securities [Line Items]
Total	4,543
Gross Unrealized Gains	5
Gross Unrealized Losses	(5)
Fair Value	4,543
Corporate bonds | Long-term Investments
Schedule of Available-for-sale Securities [Line Items]
Total	5,901
Gross Unrealized Gains	7
Gross Unrealized Losses	0
Fair Value	5,908
Commercial paper | Short-term Investments
Schedule of Available-for-sale Securities [Line Items]
Total	20,430
Gross Unrealized Gains	0
Gross Unrealized Losses	0
Fair Value	20,430
U.S. government securities | Short-term Investments
Schedule of Available-for-sale Securities [Line Items]
Total	9,985
Gross Unrealized Gains	5
Gross Unrealized Losses	0
Fair Value	9,990
U.S. government securities | Long-term Investments
Schedule of Available-for-sale Securities [Line Items]
Total	16,107
Gross Unrealized Gains	38
Gross Unrealized Losses	0
Fair Value	$ 16,145

INVESTMENTS Maturity of Availab

INVESTMENTS Maturity of Available for Sale Securities (Details) $ in Thousands	Mar. 31, 2016USD ($)
Amortized Cost
Due in one year or less	$ 43,437
Due in one to five years	29,649
Total	73,086
Fair Value
Due in one year or less	43,447
Due in one to five years	29,715
Total	$ 73,162

MERCHANT CASH ADVANCE RECEIVA47

MERCHANT CASH ADVANCE RECEIVABLE, NET (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Allowance for Doubtful Accounts Receivable [Roll Forward]
Allowance for uncollectible receivables, beginning of the period	$ 7,443	$ 2,431
Provision for uncollectible receivables	73	2,504
Receivables charged off	(58)	0
Allowance for uncollectible receivables, end of the period	$ 7,458	$ 4,935

PROPERTY AND EQUIPMENT, NET (De

PROPERTY AND EQUIPMENT, NET (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Property, Plant and Equipment [Line Items]
Depreciation	$ 6,400	$ 4,500
Property and equipment, gross	141,135		$ 133,191
Less: Accumulated depreciation and amortization	(52,096)		(45,969)
Property and equipment, net	89,039		87,222
Computer equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	46,751		43,531
Office furniture and equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	9,400		9,339
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	67,714		65,298
Capitalized software
Property, Plant and Equipment [Line Items]
Property and equipment, gross	17,209		14,533
Construction in process
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 61		$ 490

GOODWILL (Details)

GOODWILL (Details) - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	$ 56,699,000		$ 56,699,000
Goodwill, impairment charges	$ 0	$ 0

ACQUIRED INTANGIBLE ASSETS Sche

ACQUIRED INTANGIBLE ASSETS Schedule of Acquired Intangible Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Acquired Finite-Lived Intangible Assets [Line Items]
Cost	$ 36,975	$ 36,575
Accumulated Amortization	(12,512)	(9,799)
Net	24,463	26,776
Patent
Acquired Finite-Lived Intangible Assets [Line Items]
Cost	1,285	1,285
Accumulated Amortization	(374)	(348)
Net	911	937
Technology Assets
Acquired Finite-Lived Intangible Assets [Line Items]
Cost	29,045	28,645
Accumulated Amortization	(9,014)	(6,644)
Net	20,031	22,001
Customer Assets
Acquired Finite-Lived Intangible Assets [Line Items]
Cost	6,645	6,645
Accumulated Amortization	(3,124)	(2,807)
Net	$ 3,521	$ 3,838

ACQUIRED INTANGIBLE ASSETS Narr

ACQUIRED INTANGIBLE ASSETS Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Acquired Finite-Lived Intangible Assets [Line Items]
Amortization expense	$ 2.7	$ 1.1
Weighted Average | Patent
Acquired Finite-Lived Intangible Assets [Line Items]
Amortization period	13 years
Weighted Average | Technology Assets
Acquired Finite-Lived Intangible Assets [Line Items]
Amortization period	3 years
Weighted Average | Customer Assets
Acquired Finite-Lived Intangible Assets [Line Items]
Amortization period	6 years

ACQUIRED INTANGIBLE ASSETS Futu

ACQUIRED INTANGIBLE ASSETS Future Amortization of Intangible Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
2016 (remaining 9 months)	$ 6,259
2,017	7,187
2,018	5,687
2,019	2,983
2,020	1,087
Thereafter	1,260
Net	$ 24,463	$ 26,776

OTHER BALANCE SHEET COMPONENT53

OTHER BALANCE SHEET COMPONENTS (CURRENT) Other Current Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accounts receivable	$ 3,268	$ 4,808
Prepaid expenses	12,789	7,101
Deferred reader costs	3,218	4,018
Inventory	14,878	11,864
Tenant improvement reimbursement receivable	2,054	1,788
Deferred hardware costs	2,559	1,709
Processing costs receivable	10,037	7,847
Other	6,408	2,916
Total	$ 55,211	$ 42,051

OTHER BALANCE SHEET COMPONENT54

OTHER BALANCE SHEET COMPONENTS (CURRENT) Accrued Expenses (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accrued hardware costs	$ 2,656	$ 11,622
Processing costs payable	14,651	11,417
Accrued professional fees	7,637	7,642
Accrued payroll	6,493	2,660
Litigation accrual	50,000	0
Other accrued liabilities	15,898	11,060
Total	$ 97,335	$ 44,401

OTHER BALANCE SHEET COMPONENT55

OTHER BALANCE SHEET COMPONENTS (CURRENT) Other Current Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Loss Contingencies [Line Items]
Settlements payable	$ 16,308	$ 13,105
Employee early exercised stock options	1,663	2,141
Accrued transaction losses	15,419	17,176
Current portion of deferred rent	2,569	2,393
Deferred revenue	6,213	6,623
Other	5,851	3,617
Total	33,738	28,945
Accrued redemptions
Loss Contingencies [Line Items]
Accrued transaction losses	$ 1,134	$ 1,066

OTHER CONSOLIDATED BALANCE SH56

OTHER CONSOLIDATED BALANCE SHEET COMPONENTS (NON-CURRENT) Other Non-Current Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Deposits	$ 2,054	$ 1,993
Deferred tax assets	122
Deferred tax assets		188
Other	7,931	1,645
Total	$ 10,107	$ 3,826

OTHER CONSOLIDATED BALANCE SH57

OTHER CONSOLIDATED BALANCE SHEET COMPONENTS (NON-CURRENT) Other Non-Current Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Deferred rent	$ 25,083	$ 25,543
Employee early exercised stock options	609	1,128
Deferred Tax Liabilities, Net	299
Deferred tax liabilities		299
Statutory liabilities	24,214	25,492
Other	48	60
Total	$ 50,253	$ 52,522

DEBT (Details)

DEBT (Details) - Revolving Credit Facility - Line of Credit - USD ($)	3 Months Ended
	Mar. 31, 2016	Nov. 30, 2015
Debt Instrument [Line Items]
Revolving credit facility, maximum borrowing capacity		$ 375,000,000
Revolving credit facility, administrative agent fee	$ 100,000
Unused commitment fee percentage	0.15%
Remaining borrowing capacity	$ 375,000,000
Line of credit facility, unused commitment fees	$ 100,000
Federal Funds Rate
Debt Instrument [Line Items]
Basis spread on variable rate	0.50%
One Month LIBOR | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate	0.00%
One Month LIBOR | Maximum
Debt Instrument [Line Items]
Basis spread on variable rate	1.00%
LIBOR | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate	1.00%
LIBOR | Maximum
Debt Instrument [Line Items]
Basis spread on variable rate	2.00%

ACCRUED TRANSACTION LOSSES (Det

ACCRUED TRANSACTION LOSSES (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Loss Contingency Accrual
Accrued transaction losses, beginning of the period	$ 17,176
Provision for transaction losses	7,182	$ 13,757
Accrued transaction losses, end of the period	15,419
Transaction Losses
Loss Contingency Accrual
Accrued transaction losses, beginning of the period	17,176	8,452
Provision for transaction losses	7,182	13,757
Charge-offs and recoveries to accrued transaction losses	(8,939)	(5,398)
Accrued transaction losses, end of the period	$ 15,419	$ 16,811

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Income Tax Disclosure [Abstract]
Provision for income taxes	$ 339	$ 418
Effective tax rate	(0.40%)	(0.90%)

STOCKHOLDERS' EQUITY Common Sto

STOCKHOLDERS' EQUITY Common Stock Narrative (Details) - $ / shares	Mar. 31, 2016	Dec. 31, 2015
Class A
Class of Stock [Line Items]
Common stock, shares authorized	1,000,000,000	1,000,000,000
Common stock, par value (in USD per share)	$ 0.00	$ 0.00
Common stock, shares outstanding	31,717,133	31,717,133
Class B
Class of Stock [Line Items]
Common stock, shares authorized	500,000,000	500,000,000
Common stock, par value (in USD per share)	$ 0.00	$ 0.00
Common stock, shares outstanding	303,553,308	303,232,312

STOCKHOLDERS' EQUITY Share Base

STOCKHOLDERS' EQUITY Share Based Compensation Narrative (Details)	3 Months Ended
	Mar. 31, 2016USD ($)planshares	Mar. 31, 2015USD ($)	Nov. 17, 2015shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of share based compensation plans | plan	2
Employee stock purchase plan, compensation expense | $	$ 31,198,000	$ 13,461,000
Unrecognized compensation cost, options | $	$ 241,600,000
RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	4 years
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Minimum service requirement for affected employees	2 years
Expiration period from termination	3 years
Expiration period following initial public offering	1 year
Plan modification, incremental compensation cost | $	$ 700,000
Plan modification, incremental compensation cost not yet recognized | $	$ 7,400,000
Unrecognized compensation cost, period for recognition	2 years 10 months 10 days
Employee stock purchase plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Employee stock purchase plan, compensation expense | $	$ 1,500,000	$ 0
2015 Stock Option Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares reserved for future issuance			30,000,000
Shares reserved for future issuance, percentage of annual increase	5.00%
Shares available for future issuance	42,414,446
2015 Stock Option Plan | Stock options and restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity instruments outstanding	8,395,459
2009 Stock Option Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for future issuance			0
2009 Stock Option Plan | Stock options and restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity instruments outstanding	101,516,657
Maximum | 2015 Stock Option Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares reserved for future issuance, amount of annual increase	40,000,000

STOCKHOLDERS' EQUITY Stock Opti

STOCKHOLDERS' EQUITY Stock Option Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	Mar. 31, 2016	Dec. 31, 2015	Mar. 31, 2016
Number of Stock Options Outstanding
Beginning balance (shares)			107,515,554
Granted (in shares)			20,700
Exercised (in shares)			(327,976)
Forfeited (in shares)			(3,801,721)
Ending balance (shares)	103,406,557	107,515,554	103,406,557
Weighted average exercise price
Beginning balance (in USD per share)			$ 6.99
Granted (in USD per share)			9.77
Exercised (in USD per share)			1.73
Forfeited (in USD per share)			12.03
Ending balance (in USD per share)	$ 6.82	$ 6.99	$ 6.99
Options Vested and Expected to Vest
Options vested and expected to vest (in shares)	95,493,312
Options vested and expected to vest (in USD per share)	$ 6.51
Options Exercisable
Options exercisable (in shares)	100,569,757
Options exercisable (in USD per share)	$ 6.76
Additional Disclosures
Weighted average remaining contractual term, options outstanding	7 years 8 months 19 days	7 years 10 months 13 days
Weighted average remaining contractual term, options vested and expected to vest	7 years 3 months 15 days
Weighted average remaining contractual term, options exercisable	7 years 8 months 1 day
Aggregate intrinsic value, options outstanding	$ 874,966	$ 656,194
Aggregate intrinsic value, options vested and expected to vest	837,620
Aggregate intrinsic value, options exercisable	$ 857,167

STOCKHOLDERS' EQUITY RSU Activi

STOCKHOLDERS' EQUITY RSU Activity (Details) - RSUs	3 Months Ended
	Mar. 31, 2016$ / sharesshares
Number of RSUs
Beginning balance (in shares) | shares	3,632,765
Granted (in shares) | shares	3,040,950
Forfeited (in shares) | shares	(168,156)
Ending balance (in shares) | shares	6,505,559
Weighted average grant date fair value
Beginning balance (in USD per share) | $ / shares	$ 13.14
Granted (in USD per share) | $ / shares	11.29
Forfeited (in USD per share) | $ / shares	13.61
Ending balance (in USD per share) | $ / shares	$ 12.26

STOCKHOLDERS' EQUITY Stock Op65

STOCKHOLDERS' EQUITY Stock Option Fair Value Assumptions (Details) - Stock Options	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividend yield	0.00%	0.00%
Risk-free interest rate	1.39%	1.63%
Expected volatility	43.00%	54.00%
Expected term (years)	6 years 29 days	6 years 1 month 24 days

STOCKHOLDERS' EQUITY Effects of

STOCKHOLDERS' EQUITY Effects of Share-Based Compensation on Statements of Operations (Details) - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Share-based compensation expense	$ 31,198,000	$ 13,461,000
Product development
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Share-based compensation expense	21,947,000	8,958,000
Sales and marketing
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Share-based compensation expense	2,903,000	1,429,000
General and administrative
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Share-based compensation expense	6,348,000	3,074,000
Employee stock purchase plan
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Share-based compensation expense	$ 1,500,000	$ 0

LOSS PER SHARE Calculation of B

LOSS PER SHARE Calculation of Basic and Diluted Net Loss Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Earnings Per Share [Abstract]
Net loss	$ (96,755)	$ (47,978)
Basic shares:
Weighted-average common shares outstanding	335,177	151,171
Weighted-average unvested shares	(3,853)	(6,102)
Weighted-average shares used to compute basic net loss per share	331,324	145,069
Diluted shares:
Weighted-average shares used to compute diluted loss per share	331,324	145,069
Net loss per share:
Basic (in USD per share)	$ (0.29)	$ (0.33)
Diluted (in USD per share)	$ (0.29)	$ (0.33)

LOSS PER SHARE Antidilutive Sec

LOSS PER SHARE Antidilutive Securities Excluded from Computation of Earnings Per Share (Details) - shares shares in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share	123,519	248,135
Stock options and restricted stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share	109,912	90,583
Convertible preferred stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share	0	135,253
Unvested shares
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share	3,428	6,450
Employee stock purchase plan
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share	635	0
Common Stock | Warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share	9,544	15,762
Preferred Stock | Warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share	0	87

OTHER INCOME AND EXPENSE, NET O

OTHER INCOME AND EXPENSE, NET Other Income and Expense, Net (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Other Income and Expenses [Abstract]
Net (gain) loss on foreign exchange	$ (897)	$ 771
Other	111	25
Total other (income) and expense, net	$ (786)	$ 796

COMMITMENTS AND CONTINGENCIES O

COMMITMENTS AND CONTINGENCIES Operating and Capital Leases- Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Commitments and Contingencies Disclosure [Abstract]
Operating leases, rent expense	$ 2.8	$ 3.4

COMMITMENTS AND CONTINGENCIES S

COMMITMENTS AND CONTINGENCIES Schedule of Future Payments Under Operating and Capital Leases (Details) $ in Thousands	Mar. 31, 2016USD ($)
Capital
2016 (remaining 9 months)	$ 49
2,017	50
2,018	7
2,019	0
2,020	0
Thereafter	0
Total	106
Less amount representing interest	(5)
Present value of capital lease obligations	101
Less current portion of capital lease obligation	(61)
Non-current portion of capital lease obligation	40
Operating
2016 (remaining 9 months)	11,598
2,017	15,607
2,018	15,379
2,019	15,414
2,020	15,590
Thereafter	51,629
Total	$ 125,217

COMMITMENTS AND CONTINGENCIES L

COMMITMENTS AND CONTINGENCIES Litigation- Narrative (Details) $ in Thousands	Mar. 31, 2016USD ($)claimpatent	Nov. 20, 2015claim	Jul. 07, 2015claim	Jun. 05, 2015claim	Jan. 17, 2012patent	Dec. 01, 2010patent	Mar. 31, 2014claim	Apr. 30, 2012claimpatent	Mar. 30, 2016claim	Feb. 09, 2016claim	Dec. 31, 2015USD ($)
Loss Contingencies [Line Items]
Litigation accrual | $	$ 50,000										$ 0
Patent Disputes and Disputes Regarding Founder's Early Involvement in Product
Loss Contingencies [Line Items]
Pending claims	2
2010 Complaint, Patent '394, Patent '729, and Patent '248
Loss Contingencies [Line Items]
Patents found not infringed | patent	3
2010 Complaint, Patent '394, Patent '729, and Patent '248 | Pending Litigation
Loss Contingencies [Line Items]
Patents allegedly infringed | patent						3
2010 Complaint, Patent '729 and Patent '248 | Pending Litigation
Loss Contingencies [Line Items]
Patents allegedly infringed | patent					2			2
2010 Complaint, Patent '729 and Patent '248 | Litigation Appealed
Loss Contingencies [Line Items]
Patents allegedly infringed | patent								2
2010 Complaint, Patent '248
Loss Contingencies [Line Items]
Pending claims								20
Claims dismissed				4			7	13
New claims filed							5
2010 Complaint, Patent '248 | Litigation Appealed
Loss Contingencies [Line Items]
Pending claims								7
2014 Complaint, Patent '946
Loss Contingencies [Line Items]
Pending claims	17		17
Claims dismissed	14	2	12
2014 Complaint, Patent '946 | Pending Litigation
Loss Contingencies [Line Items]
Pending claims									3
2014 Complaint, Patent '946 | Litigation Appealed
Loss Contingencies [Line Items]
Pending claims										3

SEGMENT AND GEOGRAPHICAL INFO73

SEGMENT AND GEOGRAPHICAL INFORMATION Revenue by Geography (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	$ 379,269	$ 250,557
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	367,164	242,955
International
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	$ 12,105	$ 7,602

SEGMENT AND GEOGRAPHICAL INFO74

SEGMENT AND GEOGRAPHICAL INFORMATION Narrative (Details)	3 Months Ended
	Mar. 31, 2016segment
Segment Reporting [Abstract]
Number of operating segments	1
Number of reportable segments	1

SEGMENT AND GEOGRAPHICAL INFO75

SEGMENT AND GEOGRAPHICAL INFORMATION Long-lived Assets by Geography (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	$ 170,201	$ 170,697
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	166,670	168,583
International
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	$ 3,531	$ 2,114

SUPPLEMENTAL CASH FLOW INFORM76

SUPPLEMENTAL CASH FLOW INFORMATION (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Supplemental Cash Flow Data:
Cash paid for interest	$ 142	$ 418
Cash paid for income taxes	220	420
Supplemental disclosures of non-cash investing and financing activities:
Change in purchases of property and equipment in accounts payable and accrued expenses	(657)	3,662
Unpaid offering costs related to initial public offering	124	0
Fair value of shares issued related to acquisitions	$ 0	$ 22,887