Fleetmatics (FLTX) 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. 30, 2016
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q1
Trading Symbol	FLTX
Entity Registrant Name	FLEETMATICS GROUP PLC
Entity Central Index Key	1,526,160
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		38,991,257

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Current assets:
Cash	$ 186,223	$ 177,083
Restricted cash	142	135
Accounts receivable, net of allowances of $2,237 and $2,233 at March 31, 2016 and December 31, 2015, respectively	20,748	20,971
Prepaid expenses and other current assets	16,354	14,430
Total current assets	223,467	212,619
Property and equipment, net	105,490	104,506
Goodwill	54,250	54,178
Intangible assets, net	13,804	14,889
Deferred tax assets, net	6,686	6,573
Other assets	10,046	9,630
Total assets	413,743	402,395
Current liabilities:
Accounts payable	10,084	7,853
Accrued expenses and other current liabilities	25,700	24,447
Deferred revenue	21,650	22,339
Total current liabilities	57,434	54,639
Deferred revenue	8,231	7,951
Accrued income taxes	832	3,739
Long-term debt, net of discount of $673 and $717 at March 31, 2016 and December 31, 2015, respectively	23,077	23,033
Other liabilities	9,835	10,856
Total liabilities	$ 99,409	$ 100,218
Commitments and contingencies (Note 13)
Shareholders' equity:
Common shares, value	$ 744	$ 739
Additional paid-in capital	323,446	320,670
Accumulated other comprehensive loss	(3,858)	(7,673)
Accumulated deficit	(5,998)	(11,559)
Total shareholders' equity	314,334	302,177
Total liabilities and shareholders' equity	$ 413,743	$ 402,395

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) $ in Thousands	Mar. 31, 2016USD ($)shares	Mar. 31, 2016€ / shares	Dec. 31, 2015USD ($)shares	Dec. 31, 2015€ / shares
Allowance for Doubtful Accounts Receivable | $	$ 2,237		$ 2,233
Long-term debt, discount | $	$ 673		$ 717
Common shares, par value | € / shares		€ 0.015		€ 0.015
Common shares, shares authorized	66,666,663		66,666,663
Common shares, shares issued	38,958,497		38,686,288
Common shares, shares outstanding	38,958,497		38,686,288

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Subscription revenue	$ 78,947	$ 65,471
Cost of subscription revenue	20,943	17,185
Gross profit	58,004	48,286
Operating expenses:
Sales and marketing	29,423	23,269
Research and development	6,839	4,597
General and administrative	16,080	11,685
Total operating expenses	52,342	39,551
Income from operations	5,662	8,735
Interest income (expense), net	(237)	(269)
Foreign currency transaction gain (loss), net	(2,795)	4,969
Loss on extinguishment of debt		(107)
Income before income taxes	2,630	13,328
Provision for (benefit from) income taxes	(2,931)	1,577
Net income	$ 5,561	$ 11,751
Net income per share:
Basic	$ 0.14	$ 0.31
Diluted	$ 0.14	$ 0.30
Weighted average ordinary shares outstanding:
Basic	38,768,333	37,989,086
Diluted	39,599,032	39,025,216

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Net income	$ 5,561	$ 11,751
Other comprehensive income (loss):
Foreign currency translation adjustment, net of tax of $0	3,815	(6,490)
Total other comprehensive income (loss)	3,815	(6,490)
Comprehensive income	$ 9,376	$ 5,261

CONSOLIDATED STATEMENTS OF COM6

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Foreign currency translation adjustments, tax	$ 0	$ 0

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Cash flows from operating activities:
Net income	$ 5,561	$ 11,751
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization of property and equipment	9,298	6,566
Amortization of capitalized in-vehicle devices owned by customers		426
Amortization of intangible assets	1,010	585
Amortization of deferred commissions, other deferred costs and debt discount	2,991	2,486
Provision for accounts receivable allowances	1,444	503
Unrealized foreign currency transaction (gain) loss	2,793	(5,045)
Loss on disposal of property and equipment and other assets	836	559
Share-based compensation	8,267	4,543
Change in excess tax benefits from share-based awards	(621)	(1,063)
Loss on extinguishment of debt		107
Changes in operating assets and liabilities:
Accounts receivable	(1,042)	(4,396)
Prepaid expenses and other current and long-term assets	(4,678)	(3,028)
Accounts payable, accrued expenses and other current liabilities	959	1,485
Accrued income taxes	(2,906)	423
Deferred revenue	(441)	1,392
Net cash provided by (used in) operating activities	23,471	17,294
Cash flows from investing activities:
Purchases of property and equipment	(8,071)	(9,091)
Capitalization of internal-use software costs	(1,679)	(982)
Payment for businesses acquired, net of cash acquired	(72)	(7,673)
Net increase in restricted cash		(149)
Net cash used in investing activities	(9,822)	(17,895)
Cash flows from financing activities:
Payments of borrowings under Revolving Credit Facility		(23,750)
Proceeds from borrowings under Credit Facility		22,541
Proceeds from exercise of stock options	151	1,303
Taxes paid related to net share settlement of equity awards	(5,316)	(2,551)
Change in excess tax benefits from share-based awards	621	1,063
Payments of capital lease obligations	(533)	(174)
Payments of notes payable		(210)
Net cash used in financing activities	(5,077)	(1,778)
Effect of exchange rate changes on cash	568	(848)
Net increase (decrease) in cash	9,140	(3,227)
Cash, beginning of period	177,083	175,400
Cash, end of period	186,223	172,173
Supplemental disclosure of cash flow information:
Cash paid for interest	173	231
Cash paid (refunds received), net for income taxes	204	129
Supplemental disclosure of non-cash financing and investing activities:
Acquisition of property and equipment and software through capital leases and notes payable	631	494
Additions to property and equipment included in accounts payable or accrued expenses at the balance sheet dates	$ 1,730	$ 2,410

Nature of the Business

Nature of the Business	3 Months Ended
	Mar. 31, 2016
Nature of the Business	1. Nature of the Business Fleetmatics Group PLC (the “Company”) is a public limited company incorporated in the Republic of Ireland. The Company is a leading global provider of mobile workforce solutions for service-based businesses of all sizes delivered as software-as-a-service (SaaS). Its mobile software platform enables businesses to meet the challenges associated with managing their local fleets of commercial vehicles and improve productivity by extracting actionable business intelligence from real-time and historical vehicle and driver behavioral data. The Company offers intuitive, cost-effective Web-based and mobile solutions that provide fleet operators with visibility into vehicle location, fuel usage, speed and mileage and other insights into their mobile workforce, enabling them to reduce operating and capital costs, as well as increase revenue. An integrated, full-featured mobile workforce management product provides additional efficiencies related to job management by empowering the field worker and expediting the job completion process from quote through payment.

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2016
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies Basis of Presentation The accompanying consolidated financial statements have been prepared in conformity with generally accepted accounting principles (“GAAP”) in the United States of America and include the accounts of the Company and its wholly owned subsidiaries after elimination of all intercompany accounts and transactions. All dollar amounts in the financial statements and in the notes to the consolidated financial statements, except share and per share amounts, are stated in thousands of U.S. Dollars unless otherwise indicated. The accompanying consolidated balance sheet as of March 31, 2016, the consolidated statements of operations, the consolidated statements of comprehensive income, and the consolidated statements of cash flows for the three months ended March 31, 2016 and 2015 are unaudited. The interim unaudited financial statements have been prepared on the same basis as the annual audited financial statements and, in the opinion of management, reflect all adjustments, which include only normal recurring adjustments, necessary for the fair statement of the Company’s financial position as of March 31, 2016, the results of its operations, its comprehensive income, and its cash flows for the three months ended March 31, 2016 and 2015. The consolidated financial data and other information disclosed in these notes related to the three months ended March 31, 2016 and 2015 are also unaudited. The results for the three months ended March 31, 2016 are not necessarily indicative of results to be expected for the year ending December 31, 2016 or for any other interim periods or future year. Certain information and footnote disclosures normally included in the Company’s annual audited consolidated financial statements and accompanying notes have been condensed or omitted in these interim financial statements. Accordingly, these unaudited interim consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements and notes thereto for the year ended December 31, 2015 included in its Annual Report on Form 10-K (“Annual Report”) filed with the Securities and Exchange Commission on February 26, 2016. Fair Value Measurements Certain assets and liabilities are carried at fair value under GAAP. Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs. A fair value hierarchy based on three levels of inputs, of which the first two are considered observable and the last is considered unobservable, is used to measure fair value: • Level 1—Quoted prices in active markets for identical assets or liabilities. The Company did not have any financial assets or liabilities as of March 31, 2016 designated as Level 1. • Level 2—Observable inputs (other than Level 1 quoted prices) such as quoted prices in active markets for similar assets or liabilities, quoted prices in markets that are not active for identical or similar assets or liabilities, or other inputs that are observable or can be corroborated by observable market data. The Company did not have any financial assets or liabilities as of March 31, 2016 designated as Level 2. • Level 3—Unobservable inputs that are supported by little or no market activity and that are significant to determining the fair value of the assets or liabilities, including pricing models, discounted cash flow methodologies and similar techniques. The Company has a contingent consideration liability assumed as a result of the acquisition of Ornicar SAS (“Ornicar”) of $2,387 as of March 31, 2016 designated as Level 3. The Company’s contingent purchase consideration is valued by probability weighting expected payment scenarios and then applying a discount based on the present value of the future cash flow streams. This liability is classified as Level 3 because the probability weighting of future payment scenarios is based on assumptions developed by management. The Company determined a probability weighting that is weighted towards Ornicar achieving certain unit sales and pricing targets at the time of acquisition and the discount rate that is based on the Company’s weighted average cost of capital which is then adjusted for the time value of money. The probability weighting will be adjusted as the actual results provide the Company with more reliable information to weight the probability scenarios. The carrying values of accounts receivable, accounts payable and accrued expenses and other liabilities (with the exception of the Level 3 fair value measurement noted above) approximate fair value due to the short-term nature of these assets and liabilities. As of March 31, 2016 and December 31, 2015, the Company had no other assets or liabilities that would be classified under this fair value hierarchy. The fair value of the Company’s long-term debt related to the Credit Facility (as defined in Note 9 to the consolidated financial statements) approximates its carrying value due to its variable interest rate, which approximates a market interest rate. Deferred Commissions The Company capitalizes commission costs that are incremental and directly related to the acquisition of new customer contracts with a term of greater than one year. For the majority of its customer contracts, the Company pays commissions in full when it receives the initial customer contract for a new subscription or a renewal subscription. For all other customer contracts, the Company pays commissions in full when it receives the initial customer payment for a new subscription or a renewal subscription. Commission costs are capitalized upon payment and are amortized as expense ratably over the term of the related non-cancelable customer contract, in proportion to the recognition of the subscription revenue. If a subscription agreement is terminated, the unamortized portion of any deferred commission cost is recognized as expense immediately. Commission costs capitalized during the three months ended March 31, 2016 and 2015 totaled $3,805 and $2,549, respectively. Amortization of deferred commissions totaled $2,922 and $2,439 for the three months ended March 31, 2016 and 2015, respectively, and is included in sales and marketing expense in the consolidated statements of operations. Deferred commission costs, net of amortization, are included in other current and long-term assets in the consolidated balance sheets and totaled $18,431 and $17,518 as of March 31, 2016 and December 31, 2015, respectively. Foreign exchange differences also contribute to changes in the net amount of these deferred commission costs. Capitalized In-Vehicle Device Costs For the limited number of customer arrangements in which title to the in-vehicle devices transfers to the customer upon delivery or installation of the in-vehicle device (for which the Company receives an up-front fee from the customer), the Company defers the costs of the installed in-vehicle devices (including installation and shipping costs) as they are directly related to the revenue that the Company derives from the sale of the devices and that it recognizes ratably over the estimated average customer relationship period of six years. The Company capitalizes these in-vehicle device costs and amortizes the deferred costs as expense ratably over the estimated average customer relationship period, in proportion to the recognition of the up-front fee revenue. Costs of in-vehicle devices owned by customers that were capitalized during the three months ended March 31, 2015 totaled $12. Amortization of these capitalized costs totaled $426 for the three months ended March 31, 2015, and is included in cost of subscription revenue in the consolidated statements of operations. Generally, the Company does not enter into customer arrangements whereby title to the in-vehicle devices transfers to the customer upon delivery or installation of the in-vehicle device. Recently Issued and Adopted Accounting Pronouncements In March 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-09, Improvements to Employee Share-Based Payment Accounting Compensation – Stock Compensation In February 2016, the FASB issued ASU 2016-02, Leases In September 2015, the FASB issued ASU 2015-16, Business Combinations (Topic 805): Simplifying the Accounting for Measurement-Period Adjustment In April 2015, the FASB issued ASU 2015-03, Interest — Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers

Prepaid Expenses and Other Curr

Prepaid Expenses and Other Current Assets	3 Months Ended
	Mar. 31, 2016
Prepaid Expenses and Other Current Assets	3. Prepaid Expenses and Other Current Assets Prepaid expenses and other current assets consisted of the following at March 31, 2016 and December 31, 2015: March 31, December 31, Deferred commission costs $ 9,760 $ 9,296 Prepaid taxes/taxes receivable 1,855 1,190 Prepaid software license fees and support 1,437 1,113 Parts and accessories 919 633 Prepaid insurance 470 696 Other 1,913 1,502 Total $ 16,354 $ 14,430

Property and Equipment

Property and Equipment	3 Months Ended
	Mar. 31, 2016
Property and Equipment	4. Property and Equipment Property and equipment consisted of the following at March 31, 2016 and December 31, 2015: March 31, December 31, In-vehicle devices—installed (1) $ 135,448 $ 133,753 In-vehicle devices—uninstalled 5,890 6,829 Computer equipment 16,424 14,580 Internal-use software 13,952 11,791 Furniture and fixtures 2,281 2,667 Leasehold improvements 6,020 5,954 Land and building 1,043 1,001 Total property and equipment 181,058 176,575 Less: Accumulated depreciation and amortization (1) (75,568 ) (72,069 ) Property and equipment, net $ 105,490 $ 104,506 (1) During the quarter ended March 31, 2016 and the year ended December 31, 2015, the Company removed $6,000 and $11,978, respectively, of fully depreciated in-vehicle devices no longer in service, which included decommissioned 2G devices. Depreciation and amortization expense related to property and equipment totaled $9,298 and $6,566 for the three months ended March 31, 2016 and 2015, respectively. Of those amounts, $8,325 and $5,974 for the three months ended March 31, 2016 and 2015, respectively, was recorded in cost of subscription revenue primarily related to depreciation of installed in-vehicle devices and amortization of internal-use software and the remaining costs were included in various operating expenses. The carrying value of installed in-vehicle devices (including shipping and installation costs), net of accumulated depreciation, was $77,684 and $76,835 at March 31, 2016 and December 31, 2015, respectively. Foreign exchange differences also contribute to changes in the carrying value of installed in-vehicle devices. During the three months ended March 31, 2016 and 2015, the Company capitalized costs of $1,679 and $982, respectively, associated with the development of its internal-use software that is hosted by the Company and accessed by its customers via its website as well as customization and development of its internal business systems. Amortization expense of the internal-use software totaled $853 and $478 during the three months ended March 31, 2016 and 2015, respectively. The carrying value of capitalized internal-use software was $8,238 and $7,125 as of March 31, 2016 and December 31, 2015, respectively. Foreign exchange differences also contribute to changes in the carrying value of internal-use software. As of March 31, 2016 and December 31, 2015, the gross amount of assets under capital leases totaled $7,564 and $6,749, respectively, and related accumulated amortization totaled $3,170 and $2,564, respectively. During the three months ended March 31, 2016 and 2015, the Company expensed $836 and $559, respectively, primarily in conjunction with installed in-vehicle devices requiring replacement. The expense was recorded in cost of subscription revenue and is included in loss on disposal of property and equipment and other assets in the consolidated statements of cash flows.

Goodwill and Intangible Assets

Goodwill and Intangible Assets	3 Months Ended
	Mar. 31, 2016
Goodwill and Intangible Assets	5. Goodwill and Intangible Assets As of March 31, 2016 and December 31, 2015, the carrying amount of goodwill was $54,250 and $54,178, respectively, and resulted from historical acquisitions. In the first quarter of 2016, the Company recorded $72 as a purchase price adjustment resulting from the final minimum working capital requirement pursuant to the Ornicar Purchase and Sale Agreement. No impairment of goodwill was recorded during the three months ended March 31, 2016 or the year ended December 31, 2015. Intangible assets consisted of the following as of March 31, 2016 and December 31, 2015, with gross and net amounts of foreign currency-denominated intangible assets reflected at March 31, 2016 and December 31, 2015 exchange rates, respectively: March 31, 2016 Gross Accumulated Carrying Customer relationships $ 20,420 $ (9,438 ) $ 10,982 Acquired developed technology 6,761 (4,415 ) 2,346 Trademarks 819 (454 ) 365 Patent 205 (94 ) 111 Total $ 28,205 $ (14,401 ) $ 13,804 December 31, 2015 Gross Accumulated Carrying Customer relationships $ 20,420 $ (8,837 ) $ 11,583 Acquired developed technology 6,761 (3,956 ) 2,805 Trademarks 819 (427 ) 392 Patent 196 (87 ) 109 Total $ 28,196 $ (13,307 ) $ 14,889 Amortization expense related to intangible assets was $1,010 and $585 for the three months ended March 31, 2016 and 2015, respectively. Of those amounts, amortization expense of $371 and $300 for the three months ended March 31, 2016 and 2015, respectively, was included in the cost of subscription revenue in the consolidated statements of operations, and amortization expense of $639 and $285 for the three months ended March 31, 2016 and 2015, respectively, was included in sales and marketing expense in the consolidated statements of operations. The estimated future amortization expense of intangible assets as of March 31, 2016 is as follows: Years Ending December 31, 2016 $ 3,209 2017 3,141 2018 2,547 2019 2,015 2020 1,069 Thereafter 1,823 Total $ 13,804

Other Assets

Other Assets	3 Months Ended
	Mar. 31, 2016
Other Assets	6. Other Assets Other assets (non-current) consisted of the following as of March 31, 2016 and December 31, 2015: March 31, December 31, Deferred commission costs $ 8,671 $ 8,222 Other 1,375 1,408 Total $ 10,046 $ 9,630

Accrued Expenses and Other Curr

Accrued Expenses and Other Current Liabilities	3 Months Ended
	Mar. 31, 2016
Accrued Expenses and Other Current Liabilities	7. Accrued Expenses and Other Current Liabilities Accrued expenses and other current liabilities consisted of the following as of March 31, 2016 and December 31, 2015: March 31, December 31, Accrued payroll and related expenses $ 10,475 $ 11,740 Accrued professional fees 2,728 2,635 Contingent consideration 2,387 1,366 Capital lease obligations 2,177 1,898 Accrued marketing expense 1,531 1,324 Accrued rent and lease incentives 696 688 Other 5,706 4,796 Total $ 25,700 $ 24,447

Other Liabilities

Other Liabilities	3 Months Ended
	Mar. 31, 2016
Other Liabilities	8. Other Liabilities Other liabilities (non-current) consisted of the following as of March 31, 2016 and December 31, 2015: March 31, December 31, Deferred tax liabilities $ 3,718 $ 3,486 Accrued rent and lease incentives 3,173 3,331 Capital lease obligations 2,708 2,738 Contingent consideration 63 1,154 Other 173 147 Total $ 9,835 $ 10,856

Long-term Debt

Long-term Debt	3 Months Ended
	Mar. 31, 2016
Long-term Debt	9. Long-term Debt Credit Facility On January 21, 2015, the Company entered into a Credit Agreement with Citibank, N.A., as administrative agent, and the lenders party thereto, for a senior, first-priority secured financing comprised of revolving loans, letters of credit and swing line loans in a total maximum amount of $125,000 (the “Credit Facility”). The Credit Facility is collateralized by a senior first lien by certain assets and property of the Company. The Credit Facility consists of a five-year multi-currency revolving credit facility in a dollar amount of up to $125,000 which includes a sublimit of $5,000 for letters of credit and a $10,000 swing line facility. The Credit Facility also includes an accordion feature that allows the Company to increase the Credit Facility to a total of $200,000, subject to securing additional commitments from existing lenders or new lending institutions. The Company used the net proceeds of borrowings under the Credit Facility to repay the $23,750 outstanding under the Company’s previously existing revolving credit facility with Wells Fargo Capital Finance, LLC (“Amended Revolving Credit Facility”), and for working capital and other general corporate purposes. As a result of the early repayment of the Amended Revolving Credit Facility, in the first quarter of 2015, the Company recorded a loss on extinguishment of debt of $107, comprised of the write-off of unamortized debt issuance costs. At the Company’s election, loans made under the Credit Facility bear interest at either (1) a rate per annum equal to the highest of the Administrative Agent’s prime rate, or 0.5% in excess of the Federal Funds Effective Rate or 2.0% in excess of one-month LIBOR (the “Base Rate”), plus an applicable margin, or (2) the one-, two-, three-, or six-month per annum LIBOR for deposits in U.S. Dollars, plus an applicable margin. The applicable margin for the revolving loans depends on the Company’s leverage ratio and varies from 0.5% to 1.25%, in the case of Base Rate loans, and from 1.50% to 2.25%, in the case of LIBOR loans. Swing line loans bear interest at the Base Rate. Commitment fees on the average daily unused portion of the Credit Facility (excluding swing line loans) are payable at rates per annum ranging from 0.2% to 0.3%, depending on the Company’s leverage ratio. On the issuance date of January 21, 2015, the Credit Facility was recorded in the consolidated balance sheet net of discount of $708, related to fees assessed by the lender at the time. During the second quarter of 2015, the Company recorded additional fees related to the debt of $159. The carrying value of this debt is being accreted to the principal amount of the debt by charges to interest expense using the effective-interest method over the five-year term of the Credit Facility to the maturity date. At March 31, 2016 and December 31, 2015, the debt discount balance totaled $673 and $717, respectively. Accretion amounts recognized as interest expense for the three months ended March 31, 2016 and 2015 totaled $44 and $27, respectively. On the issuance date, the Company also capitalized deferred financing costs of $501 related to third-party fees incurred in connection with the Credit Facility. These deferred costs are being amortized through charges to interest expense using the effective-interest method over the five-year term of the Credit Facility to the expiration date. At March 31, 2016, deferred financing cost recorded in other current assets and other assets (non-current) were $100 and $282, respectively, and totaled $382. Amortization amounts recognized as interest expense for the three months ended March 31, 2016 and 2015 totaled $25 and $20, respectively. As of March 31, 2016, the Company had outstanding borrowings of $23,750 under the Credit Facility with an interest rate of 2.01% per annum. The fair value of the Company’s long-term debt related to the Credit Facility approximates its carrying value due to its variable interest rate, which approximates a market interest rate. The Credit Facility contains certain customary financial, affirmative and negative covenants including a maximum leverage ratio and minimum interest coverage ratio and negative covenants that limit or restrict, among other things, dividends, secured indebtedness, mergers and fundamental changes, asset dispositions and sales, investments and acquisitions, liens and encumbrances, transactions with affiliates, and other matters customarily restricted in such agreements. Amounts borrowed under the Credit Facility may be repaid and, subject to customary terms and conditions, re-borrowed at any time during and up to the maturity date. Any outstanding balance under the Credit Facility is due and payable no later than January 21, 2020. As of March 31, 2016, the Company was in compliance with all such covenants.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2016
Income Taxes	10. Income Taxes The Company’s effective income tax rate for the three months ended March 31, 2016 was (111.4)%, on pre-tax income of $2,630. The effective tax rate for three months ended March 31, 2016 was lower than the statutory Irish rate of 12.5% primarily due to the release of reserves related to uncertain tax positions upon the expiration of a statute of limitation in Ireland, income being generated in a jurisdiction that has a lower tax rate than the Irish statutory rate and the Irish research and development tax credit. The Company’s effective income tax rate for the three months ended March 31, 2015 was 11.8%, on pre-tax income of $13,328. The effective tax rate for three months ended March 31, 2015 was lower than the statutory Irish rate of 12.5% primarily due to income being generated in a jurisdiction that has a lower tax rate than the Irish statutory rate and to the Irish research and development tax credit. The Company made a change to its organizational structure that impacted the jurisdictional mix of profits and was favorable to our income tax expense. The decrease associated with these items was partially offset by the recording of uncertain tax positions including interest and penalties. It is reasonably possible that within the next 12 months the Company’s unrecognized tax benefits, inclusive of interest, may decrease by up to $328. This is primarily due to statute of limitations expiring for the recognition of these tax benefits of one of the Company’s Irish subsidiaries in 2017.

Share-Based Awards

Share-Based Awards	3 Months Ended
	Mar. 31, 2016
Share-Based Awards	11. Share-Based Awards 2011 Stock Option and Incentive Plan In September 2011, the Board of Directors adopted and the Company’s shareholders approved the 2011 Stock Option and Incentive Plan (the “2011 Plan”). The 2011 Plan permits the Company to make grants of incentive stock options, non-qualified stock options, restricted stock units and cash-based awards at an exercise price no less than the fair market value per share of the Company’s ordinary shares on the grant date and with a maximum term of seven years. These awards may be granted to the Company’s employees and non-employee directors. Pursuant to the terms of the 2011 Plan, the number of ordinary shares reserved for issuance under the 2011 Plan automatically increases by 4.75% of the outstanding ordinary shares issued and outstanding on an annual basis as of January 31. As of March 31, 2016, the number of ordinary shares reserved for issuance under the 2011 Plan was 7,282,645. This number is subject to adjustment in the event of a stock split, stock dividend or other change in our capitalization. The Company grants share-based awards with employment service conditions only (“service-based” awards) and share-based awards with both employment service and performance conditions (“performance-based” awards). The Company applies the fair value recognition provisions for all share-based awards granted or modified and records compensation costs over the requisite service period of the award based on the grant-date fair value. The straight-line method is applied to all service-based awards granted, while the graded-vesting method is applied to all performance-based awards granted. The requisite service period for service-based awards is generally four years, with restrictions lapsing evenly over the period. Stock Option Activity Stock option activity during the three months ended March 31, 2016 was as follows: Number of Weighted Outstanding at December 31, 2015 362,940 $ 5.54 Granted — Exercised (14,963 ) $ 10.05 Forfeited and canceled (416 ) $ 10.01 Outstanding at March 31, 2016 347,561 $ 5.34 Vested and expected to vest at March 31, 2016 347,294 $ 5.34 Exercisable at March 31, 2016 329,712 $ 5.05 2012 Employee Share Purchase Plan In September 2012, the Company’s Board of Directors adopted and its shareholders approved the 2012 Employee Share Purchase Plan, which became effective upon the closing of the Company’s initial public offering (“IPO”) in October 2012. The 2012 Employee Share Purchase Plan authorizes the issuance of up to 400,000 ordinary shares to participating employees. Employees of certain subsidiaries of the Company who have been employed for at least 30 days and whose customary employment is for more than 20 hours per week are eligible to participate in the 2012 Employee Share Purchase Plan. Any employee who owns 5% or more of the voting power or value of ordinary shares is not eligible to purchase shares under the 2012 Employee Share Purchase Plan. The Company will make one or more offerings each year to its employees to purchase shares under the 2012 Employee Share Purchase Plan. The first offering began during 2013 and subsequent offerings will usually begin on each May 1st and November 1st and will continue for six-month periods, referred to as offering periods. Each eligible employee may elect to participate in any offering by submitting an enrollment form at least 15 days before the relevant offering date. Each employee who is a participant in the 2012 Employee Share Purchase Plan may purchase shares by authorizing payroll deductions of up to 15% of his or her base compensation during an offering period. Unless the participating employee has previously withdrawn from the offering, his or her accumulated payroll deductions will be used to purchase ordinary shares on the last business day of the offering period at a price equal to 85% of the fair market value of the ordinary shares on the first business day or the last business day of the offering period, whichever is lower, provided that no more than 2,500 ordinary shares may be purchased by any one employee during each offering period. Under applicable tax rules, an employee may purchase no more than $25 worth of ordinary shares, valued at the start of the purchase period, under the 2012 Employee Share Purchase Plan in any calendar year. The accumulated payroll deductions of any employee who is not a participant on the last day of an offering period will be refunded. An employee’s rights under the 2012 Employee Share Purchase Plan terminate upon voluntary withdrawal from the plan or when the employee ceases employment with us for any reason. The 2012 Employee Share Purchase Plan may be terminated or amended by the Board of Directors at any time. An amendment that increases the number of ordinary shares that are authorized under the 2012 Employee Share Purchase Plan and certain other amendments require the approval of the Company’s shareholders. Restricted Stock Unit Awards In the three months ended March 31, 2016, the Company granted service-based restricted stock units (“RSUs”) for the purchase of 969,492 ordinary shares and performance-based restricted stock units (“PSUs”) for the purchase of 411,804 ordinary shares with a weighted average grant-date fair value of $41.37. The RSUs have restrictions which lapse four years from the date of grant. Restrictions on the PSUs will lapse based upon the achievement of certain financial performance targets during the applicable performance period, which ends on December 31, 2016. The grant date fair value of the shares is recognized over the requisite period of performance once achievement of criteria is deemed probable. Periodically throughout the performance period, the Company estimates the likelihood of achieving performance goals. Actual results, and future changes in estimates, may differ substantially from the Company’s current estimates. If the targets are not achieved, the shares will be forfeited by the employee. The following table summarizes unvested RSUs and PSUs activity for the three months ended March 31, 2016: Number of Weighted Average Unvested balance at December 31, 2015 2,199,652 $ 36.17 Granted 1,381,296 $ 41.37 Vested (427,359 ) $ 34.20 Forfeited (21,268 ) $ 37.47 Unvested balance at March 31, 2016 3,132,321 $ 38.72 Share-based Compensation The Company recognized share-based compensation expense from all awards in the following expense categories: Three Months Ended 2016 2015 Cost of subscription revenue $ 410 $ 251 Sales and marketing 2,900 1,824 Research and development 1,237 673 General and administrative 3,720 1,795 Total $ 8,267 $ 4,543

Net Income per Share

Net Income per Share	3 Months Ended
	Mar. 31, 2016
Net Income per Share	12. Net Income per Share Basic and diluted net income per share attributable to ordinary shareholders was calculated as follows for the three months ended March 31, 2016 and 2015: Three Months Ended 2016 2015 Basic net income per share: Numerator: Net income $ 5,561 $ 11,751 Denominator: Weighted average ordinary shares outstanding—basic 38,768,333 37,989,086 Net income per share—basic $ 0.14 $ 0.31 Diluted net income per share: Numerator: Net income $ 5,561 $ 11,751 Denominator: Weighted average ordinary shares outstanding—basic 38,768,333 37,989,086 Dilutive effect of ordinary share equivalents 830,699 1,036,130 Weighted average ordinary shares outstanding—diluted 39,599,032 39,025,216 Net income per share—diluted $ 0.14 $ 0.30

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2016
Commitments and Contingencies	13. Commitments and Contingencies Lease Commitments The Company leases its office space under non-cancelable operating leases, some of which contain payment escalations. The Company recognizes rent expense on a straight-line basis over the non-cancelable lease term and records the difference between cash rent payments and rent expense recognized in the consolidated statements of operations as accrued rent within accrued expenses (current) and other liabilities (non-current). The Company has recorded as a capital lease the obligation assumed for the building acquired through the acquisition of Visirun S.p.A. (“Visirun”). The Company also leases furniture and computer equipment under capital leases that expire at various dates through 2018. Future minimum lease payments under non-cancelable operating and capital leases at March 31, 2016 are as follows: Years Ending December 31, Operating Leases Capital Leases Total 2016 $ 8,323 $ 1,782 $ 10,105 2017 9,863 1,881 11,744 2018 5,188 681 5,869 2019 4,001 100 4,101 2020 3,665 94 3,759 Thereafter 2,095 461 2,556 Total $ 33,135 4,999 $ 38,134 Less amount representing interest (115 ) Present value of minimum lease payments $ 4,884 Data Center Agreements The Company has agreements with various vendors to provide specialized space and services for the Company to host its software application. Future minimum payments under non-cancelable data center agreements at March 31, 2016 totaled $3,041 of which $1,388, $1,587, and $66 is due in the years ending December 31, 2016, 2017, and 2018, respectively. Purchase Commitments As of March 31, 2016, the Company had non-cancelable purchase commitments related to telecommunications, subscription fees for third-party data (such as Internet maps and posted speed limits) and subscription fees for software services totaling $7,149, of which $2,833, $3,346, $951, and $19 will become payable in the years ending December 31, 2016, 2017, 2018,and 2019, respectively. Indemnification Agreements In the ordinary course of business, the Company may provide indemnifications of varying scope and terms to customers, vendors, lessors, business partners, and other parties with respect to certain matters including, but not limited to, losses arising out of breach of such agreements, from services to be provided by the Company, or from intellectual property infringement claims made by third parties. In addition, the Company has entered into indemnification agreements with members of its Board of Directors and certain of its officers that will require the Company, among other things, to indemnify them against certain liabilities that may arise by reason of their status or service as directors or officers. The maximum potential amount of future payments the Company could be required to make under these indemnification agreements is, in many cases, unlimited. To date, the Company has not incurred any material costs as a result of such indemnifications. The Company does not believe that the outcome of any claims under indemnification arrangements will have a material effect on its consolidated financial position, results of operations or cash flows, and it has not accrued any liabilities related to such obligations in its consolidated financial statements as of March 31, 2016 and December 31, 2015. Litigation From time to time, the Company may become subject to legal proceedings, claims and litigation arising in the ordinary course of business. In addition, the Company may receive notification alleging infringement of patent or other intellectual property rights. The Company is not a party to any material legal proceedings, nor is the Company aware of any pending or threatened litigation, that, in its opinion, would have a material adverse effect on its business or its consolidated financial position, results of operations or cash flows should such litigation be resolved unfavorably. The Company accrues contingent liabilities when it is probable that future expenditures will be made and such expenditures can be reasonably estimated. On October 27, 2015, Orthosie Systems, LLC filed a complaint against the Company (Orthosie Systems, LLC v. Fleetmatics USA, LLC et al. On January 12, 2016, David Gillard and Jaclyn Stramiello, individually and on behalf all others similarly situated, filed a complaint against the Company (Gillard et al. et al.,

Summary of Significant Accoun21

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2016
Basis of Presentation	Basis of Presentation The accompanying consolidated financial statements have been prepared in conformity with generally accepted accounting principles (“GAAP”) in the United States of America and include the accounts of the Company and its wholly owned subsidiaries after elimination of all intercompany accounts and transactions. All dollar amounts in the financial statements and in the notes to the consolidated financial statements, except share and per share amounts, are stated in thousands of U.S. Dollars unless otherwise indicated. The accompanying consolidated balance sheet as of March 31, 2016, the consolidated statements of operations, the consolidated statements of comprehensive income, and the consolidated statements of cash flows for the three months ended March 31, 2016 and 2015 are unaudited. The interim unaudited financial statements have been prepared on the same basis as the annual audited financial statements and, in the opinion of management, reflect all adjustments, which include only normal recurring adjustments, necessary for the fair statement of the Company’s financial position as of March 31, 2016, the results of its operations, its comprehensive income, and its cash flows for the three months ended March 31, 2016 and 2015. The consolidated financial data and other information disclosed in these notes related to the three months ended March 31, 2016 and 2015 are also unaudited. The results for the three months ended March 31, 2016 are not necessarily indicative of results to be expected for the year ending December 31, 2016 or for any other interim periods or future year. Certain information and footnote disclosures normally included in the Company’s annual audited consolidated financial statements and accompanying notes have been condensed or omitted in these interim financial statements. Accordingly, these unaudited interim consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements and notes thereto for the year ended December 31, 2015 included in its Annual Report on Form 10-K (“Annual Report”) filed with the Securities and Exchange Commission on February 26, 2016.
Fair Value Measurements	Fair Value Measurements Certain assets and liabilities are carried at fair value under GAAP. Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs. A fair value hierarchy based on three levels of inputs, of which the first two are considered observable and the last is considered unobservable, is used to measure fair value: • Level 1—Quoted prices in active markets for identical assets or liabilities. The Company did not have any financial assets or liabilities as of March 31, 2016 designated as Level 1. • Level 2—Observable inputs (other than Level 1 quoted prices) such as quoted prices in active markets for similar assets or liabilities, quoted prices in markets that are not active for identical or similar assets or liabilities, or other inputs that are observable or can be corroborated by observable market data. The Company did not have any financial assets or liabilities as of March 31, 2016 designated as Level 2. • Level 3—Unobservable inputs that are supported by little or no market activity and that are significant to determining the fair value of the assets or liabilities, including pricing models, discounted cash flow methodologies and similar techniques. The Company has a contingent consideration liability assumed as a result of the acquisition of Ornicar SAS (“Ornicar”) of $2,387 as of March 31, 2016 designated as Level 3. The Company’s contingent purchase consideration is valued by probability weighting expected payment scenarios and then applying a discount based on the present value of the future cash flow streams. This liability is classified as Level 3 because the probability weighting of future payment scenarios is based on assumptions developed by management. The Company determined a probability weighting that is weighted towards Ornicar achieving certain unit sales and pricing targets at the time of acquisition and the discount rate that is based on the Company’s weighted average cost of capital which is then adjusted for the time value of money. The probability weighting will be adjusted as the actual results provide the Company with more reliable information to weight the probability scenarios. The carrying values of accounts receivable, accounts payable and accrued expenses and other liabilities (with the exception of the Level 3 fair value measurement noted above) approximate fair value due to the short-term nature of these assets and liabilities. As of March 31, 2016 and December 31, 2015, the Company had no other assets or liabilities that would be classified under this fair value hierarchy. The fair value of the Company’s long-term debt related to the Credit Facility (as defined in Note 9 to the consolidated financial statements) approximates its carrying value due to its variable interest rate, which approximates a market interest rate.
Deferred Commissions	Deferred Commissions The Company capitalizes commission costs that are incremental and directly related to the acquisition of new customer contracts with a term of greater than one year. For the majority of its customer contracts, the Company pays commissions in full when it receives the initial customer contract for a new subscription or a renewal subscription. For all other customer contracts, the Company pays commissions in full when it receives the initial customer payment for a new subscription or a renewal subscription. Commission costs are capitalized upon payment and are amortized as expense ratably over the term of the related non-cancelable customer contract, in proportion to the recognition of the subscription revenue. If a subscription agreement is terminated, the unamortized portion of any deferred commission cost is recognized as expense immediately. Commission costs capitalized during the three months ended March 31, 2016 and 2015 totaled $3,805 and $2,549, respectively. Amortization of deferred commissions totaled $2,922 and $2,439 for the three months ended March 31, 2016 and 2015, respectively, and is included in sales and marketing expense in the consolidated statements of operations. Deferred commission costs, net of amortization, are included in other current and long-term assets in the consolidated balance sheets and totaled $18,431 and $17,518 as of March 31, 2016 and December 31, 2015, respectively. Foreign exchange differences also contribute to changes in the net amount of these deferred commission costs.
Capitalized In-Vehicle Device Costs	Capitalized In-Vehicle Device Costs For the limited number of customer arrangements in which title to the in-vehicle devices transfers to the customer upon delivery or installation of the in-vehicle device (for which the Company receives an up-front fee from the customer), the Company defers the costs of the installed in-vehicle devices (including installation and shipping costs) as they are directly related to the revenue that the Company derives from the sale of the devices and that it recognizes ratably over the estimated average customer relationship period of six years. The Company capitalizes these in-vehicle device costs and amortizes the deferred costs as expense ratably over the estimated average customer relationship period, in proportion to the recognition of the up-front fee revenue. Costs of in-vehicle devices owned by customers that were capitalized during the three months ended March 31, 2015 totaled $12. Amortization of these capitalized costs totaled $426 for the three months ended March 31, 2015, and is included in cost of subscription revenue in the consolidated statements of operations. Generally, the Company does not enter into customer arrangements whereby title to the in-vehicle devices transfers to the customer upon delivery or installation of the in-vehicle device.
Recently Issued and Adopted Accounting Pronouncements	Recently Issued and Adopted Accounting Pronouncements In March 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-09, Improvements to Employee Share-Based Payment Accounting Compensation – Stock Compensation In February 2016, the FASB issued ASU 2016-02, Leases In September 2015, the FASB issued ASU 2015-16, Business Combinations (Topic 805): Simplifying the Accounting for Measurement-Period Adjustment In April 2015, the FASB issued ASU 2015-03, Interest — Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers

Prepaid Expenses and Other Cu22

Prepaid Expenses and Other Current Assets (Tables)	3 Months Ended
	Mar. 31, 2016
Prepaid Expenses and Other Current Assets	Prepaid expenses and other current assets consisted of the following at March 31, 2016 and December 31, 2015: March 31, December 31, Deferred commission costs $ 9,760 $ 9,296 Prepaid taxes/taxes receivable 1,855 1,190 Prepaid software license fees and support 1,437 1,113 Parts and accessories 919 633 Prepaid insurance 470 696 Other 1,913 1,502 Total $ 16,354 $ 14,430

Property and Equipment (Tables)

Property and Equipment (Tables)	3 Months Ended
	Mar. 31, 2016
Property and Equipment	Property and equipment consisted of the following at March 31, 2016 and December 31, 2015: March 31, December 31, In-vehicle devices—installed (1) $ 135,448 $ 133,753 In-vehicle devices—uninstalled 5,890 6,829 Computer equipment 16,424 14,580 Internal-use software 13,952 11,791 Furniture and fixtures 2,281 2,667 Leasehold improvements 6,020 5,954 Land and building 1,043 1,001 Total property and equipment 181,058 176,575 Less: Accumulated depreciation and amortization (1) (75,568 ) (72,069 ) Property and equipment, net $ 105,490 $ 104,506 (1) During the quarter ended March 31, 2016 and the year ended December 31, 2015, the Company removed $6,000 and $11,978, respectively, of fully depreciated in-vehicle devices no longer in service, which included decommissioned 2G devices.

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	3 Months Ended
	Mar. 31, 2016
Intangible Assets	Intangible assets consisted of the following as of March 31, 2016 and December 31, 2015, with gross and net amounts of foreign currency-denominated intangible assets reflected at March 31, 2016 and December 31, 2015 exchange rates, respectively: March 31, 2016 Gross Accumulated Carrying Customer relationships $ 20,420 $ (9,438 ) $ 10,982 Acquired developed technology 6,761 (4,415 ) 2,346 Trademarks 819 (454 ) 365 Patent 205 (94 ) 111 Total $ 28,205 $ (14,401 ) $ 13,804 December 31, 2015 Gross Accumulated Carrying Customer relationships $ 20,420 $ (8,837 ) $ 11,583 Acquired developed technology 6,761 (3,956 ) 2,805 Trademarks 819 (427 ) 392 Patent 196 (87 ) 109 Total $ 28,196 $ (13,307 ) $ 14,889
Estimated Future Amortization Expense of Intangible Assets	The estimated future amortization expense of intangible assets as of March 31, 2016 is as follows: Years Ending December 31, 2016 $ 3,209 2017 3,141 2018 2,547 2019 2,015 2020 1,069 Thereafter 1,823 Total $ 13,804

Other Assets (Tables)

Other Assets (Tables)	3 Months Ended
	Mar. 31, 2016
Other Assets (Non-current)	Other assets (non-current) consisted of the following as of March 31, 2016 and December 31, 2015: March 31, December 31, Deferred commission costs $ 8,671 $ 8,222 Other 1,375 1,408 Total $ 10,046 $ 9,630

Accrued Expenses and Other Cu26

Accrued Expenses and Other Current Liabilities (Tables)	3 Months Ended
	Mar. 31, 2016
Accrued Expenses and Other Current Liabilities	Accrued expenses and other current liabilities consisted of the following as of March 31, 2016 and December 31, 2015: March 31, December 31, Accrued payroll and related expenses $ 10,475 $ 11,740 Accrued professional fees 2,728 2,635 Contingent consideration 2,387 1,366 Capital lease obligations 2,177 1,898 Accrued marketing expense 1,531 1,324 Accrued rent and lease incentives 696 688 Other 5,706 4,796 Total $ 25,700 $ 24,447

Other Liabilities (Tables)

Other Liabilities (Tables)	3 Months Ended
	Mar. 31, 2016
Other Liabilities	Other liabilities (non-current) consisted of the following as of March 31, 2016 and December 31, 2015: March 31, December 31, Deferred tax liabilities $ 3,718 $ 3,486 Accrued rent and lease incentives 3,173 3,331 Capital lease obligations 2,708 2,738 Contingent consideration 63 1,154 Other 173 147 Total $ 9,835 $ 10,856

Share-Based Awards (Tables)

Share-Based Awards (Tables)	3 Months Ended
	Mar. 31, 2016
Stock Option Activity	Stock option activity during the three months ended March 31, 2016 was as follows: Number of Weighted Outstanding at December 31, 2015 362,940 $ 5.54 Granted — Exercised (14,963 ) $ 10.05 Forfeited and canceled (416 ) $ 10.01 Outstanding at March 31, 2016 347,561 $ 5.34 Vested and expected to vest at March 31, 2016 347,294 $ 5.34 Exercisable at March 31, 2016 329,712 $ 5.05
Summary of Unvested Restricted Stock Units and Performance Stock Unit	The following table summarizes unvested RSUs and PSUs activity for the three months ended March 31, 2016: Number of Weighted Average Unvested balance at December 31, 2015 2,199,652 $ 36.17 Granted 1,381,296 $ 41.37 Vested (427,359 ) $ 34.20 Forfeited (21,268 ) $ 37.47 Unvested balance at March 31, 2016 3,132,321 $ 38.72
Recognized Share-Based Compensation Expense from All Awards	The Company recognized share-based compensation expense from all awards in the following expense categories: Three Months Ended 2016 2015 Cost of subscription revenue $ 410 $ 251 Sales and marketing 2,900 1,824 Research and development 1,237 673 General and administrative 3,720 1,795 Total $ 8,267 $ 4,543

Net Income per Share (Tables)

Net Income per Share (Tables)	3 Months Ended
	Mar. 31, 2016
Basic and Diluted Net Income (Loss) Per Share Attributable to Ordinary Shareholders	Basic and diluted net income per share attributable to ordinary shareholders was calculated as follows for the three months ended March 31, 2016 and 2015: Three Months Ended 2016 2015 Basic net income per share: Numerator: Net income $ 5,561 $ 11,751 Denominator: Weighted average ordinary shares outstanding—basic 38,768,333 37,989,086 Net income per share—basic $ 0.14 $ 0.31 Diluted net income per share: Numerator: Net income $ 5,561 $ 11,751 Denominator: Weighted average ordinary shares outstanding—basic 38,768,333 37,989,086 Dilutive effect of ordinary share equivalents 830,699 1,036,130 Weighted average ordinary shares outstanding—diluted 39,599,032 39,025,216 Net income per share—diluted $ 0.14 $ 0.30

Commitments and Contingencies (

Commitments and Contingencies (Tables)	3 Months Ended
	Mar. 31, 2016
Future Minimum Lease Payments Under Non-cancelable Operating and Capital Leases	Future minimum lease payments under non-cancelable operating and capital leases at March 31, 2016 are as follows: Years Ending December 31, Operating Leases Capital Leases Total 2016 $ 8,323 $ 1,782 $ 10,105 2017 9,863 1,881 11,744 2018 5,188 681 5,869 2019 4,001 100 4,101 2020 3,665 94 3,759 Thereafter 2,095 461 2,556 Total $ 33,135 4,999 $ 38,134 Less amount representing interest (115 ) Present value of minimum lease payments $ 4,884

Summary of Significant Accoun31

Summary of Significant Accounting Policies - Additional Information (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Significant Accounting Policies [Line Items]
Other assets, fair value disclosure	$ 0		$ 0
Other liabilities, fair value disclosure	0		0
Capitalized/deferred costs, amortization		$ 426,000
Deferred Commissions
Significant Accounting Policies [Line Items]
Capitalized/deferred costs	3,805,000	2,549,000
Deferred Commissions | Sales and Marketing
Significant Accounting Policies [Line Items]
Capitalized/deferred costs, amortization	2,922,000	2,439,000
Deferred Commissions | Other Current Assets and Other Long-Term Assets
Significant Accounting Policies [Line Items]
Capitalized/deferred costs, net	18,431,000		$ 17,518,000
Capitalized In-Vehicle Device Costs
Significant Accounting Policies [Line Items]
Capitalized/deferred costs		12,000
Capitalized In-Vehicle Device Costs | Cost Of Subscription Revenue
Significant Accounting Policies [Line Items]
Capitalized/deferred costs, amortization		$ 426,000
Ornicar
Significant Accounting Policies [Line Items]
Contingent consideration, liability	$ 2,387,000
Customer Relationships | Weighted Average
Significant Accounting Policies [Line Items]
Intangible asset, estimated useful life	6 years

Prepaid Expenses and Other Cu32

Prepaid Expenses and Other Current Assets (Detail) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Prepaid Expenses And Other Current Assets
Deferred commission costs	$ 9,760	$ 9,296
Prepaid taxes/taxes receivable	1,855	1,190
Prepaid software license fees and support	1,437	1,113
Parts and accessories	919	633
Prepaid insurance	470	696
Other	1,913	1,502
Total	$ 16,354	$ 14,430

Property and Equipment (Detail)

Property and Equipment (Detail) - USD ($) $ in Thousands		Mar. 31, 2016	Dec. 31, 2015
Property, Plant and Equipment [Line Items]
Computer equipment		$ 16,424	$ 14,580
Internal-use software		13,952	11,791
Furniture and fixtures		2,281	2,667
Leasehold improvements		6,020	5,954
Land and building		1,043	1,001
Total property and equipment		181,058	176,575
Less: Accumulated depreciation and amortization	[1]	(75,568)	(72,069)
Property and equipment, net		105,490	104,506
In-vehicle devices-installed
Property, Plant and Equipment [Line Items]
In-vehicle	[1]	135,448	133,753
In-vehicle devices-uninstalled
Property, Plant and Equipment [Line Items]
In-vehicle		$ 5,890	$ 6,829
[1]	During the quarter ended March 31, 2016 and the year ended December 31, 2015, the Company removed $6,000 and $11,978, respectively, of fully depreciated in-vehicle devices no longer in service, which included decommissioned 2G devices.

Property and Equipment (Parenth

Property and Equipment (Parenthetical) (Detail) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
In-vehicle devices-installed
Property, Plant and Equipment [Line Items]
Depreciation of property and equipment	$ 6,000	$ 11,978

Property and Equipment - Additi

Property and Equipment - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Property, Plant and Equipment [Line Items]
Depreciation and amortization of property and equipment	$ 9,298	$ 6,566
Depreciation and amortization expense, recorded in cost of subscription revenue	8,325	5,974
Carrying value of installed in-vehicle devices, net of accumulated depreciation	77,684		$ 76,835
Capitalized costs, associated with development of internal-use software	1,679	982
Amortization expense of the internal-use software	853	478
Carrying value of capitalized internal-use software	8,238		7,125
Gross amount of assets under capital leases	7,564		6,749
Assets under capital leases, accumulated amortization	3,170		$ 2,564
In-vehicle devices-installed
Property, Plant and Equipment [Line Items]
Expense in conjunction with installed in-vehicle devices that requires replacement	$ 836	$ 559

Goodwill and Intangible Asset36

Goodwill and Intangible Assets - Additional Information (Detail) - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Goodwill and Intangible Assets Disclosure [Line Items]
Goodwill	$ 54,250,000		$ 54,178,000
Impairment of goodwill	0		$ 0
Amortization of intangible assets	1,010,000	$ 585,000
Amortization expense included in cost of subscription revenue	371,000	300,000
Ornicar
Goodwill and Intangible Assets Disclosure [Line Items]
Purchase price adjustment from working capital requirement	72,000
Sales and Marketing
Goodwill and Intangible Assets Disclosure [Line Items]
Amortization of intangible assets	$ 639,000	$ 285,000

Intangible Assets (Detail)

Intangible Assets (Detail) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Finite-Lived Intangible Assets [Line Items]
Gross Amount	$ 28,205	$ 28,196
Accumulated Amortization	(14,401)	(13,307)
Carrying Value	13,804	14,889
Customer Relationships
Finite-Lived Intangible Assets [Line Items]
Gross Amount	20,420	20,420
Accumulated Amortization	(9,438)	(8,837)
Carrying Value	10,982	11,583
Acquired Developed Technology
Finite-Lived Intangible Assets [Line Items]
Gross Amount	6,761	6,761
Accumulated Amortization	(4,415)	(3,956)
Carrying Value	2,346	2,805
Trademarks
Finite-Lived Intangible Assets [Line Items]
Gross Amount	819	819
Accumulated Amortization	(454)	(427)
Carrying Value	365	392
Patents
Finite-Lived Intangible Assets [Line Items]
Gross Amount	205	196
Accumulated Amortization	(94)	(87)
Carrying Value	$ 111	$ 109

Estimated Future Amortization E

Estimated Future Amortization Expense of Intangible Assets (Detail) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Finite Lived Intangible Assets Future Amortization Expense [Line Items]
2,016	$ 3,209
2,017	3,141
2,018	2,547
2,019	2,015
2,020	1,069
Thereafter	1,823
Carrying Value	$ 13,804	$ 14,889

Other Assets (Non-Current) (Det

Other Assets (Non-Current) (Detail) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Other Assets, Noncurrent
Deferred commission costs	$ 8,671	$ 8,222
Other	1,375	1,408
Total	$ 10,046	$ 9,630

Accrued Expenses and Other Cu40

Accrued Expenses and Other Current Liabilities (Detail) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Accrued Expenses and Other Current Liabilities [Line Items]
Accrued payroll and related expenses	$ 10,475	$ 11,740
Accrued professional fees	2,728	2,635
Contingent consideration	2,387	1,366
Capital lease obligations	2,177	1,898
Accrued marketing expense	1,531	1,324
Accrued rent and lease incentives	696	688
Other	5,706	4,796
Total	$ 25,700	$ 24,447

Other Liabilities (Non-Current)

Other Liabilities (Non-Current) (Detail) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Schedule Of Other Liabilities Noncurrent [Line Items]
Deferred tax liabilities	$ 3,718	$ 3,486
Accrued rent and lease incentives	3,173	3,331
Capital lease obligations	2,708	2,738
Contingent consideration	63	1,154
Other	173	147
Total	$ 9,835	$ 10,856

Long-term Debt - Additional Inf

Long-term Debt - Additional Information (Detail) - USD ($)	Jan. 21, 2015	Mar. 31, 2016	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2015
Debt Instrument [Line Items]
Credit facility, outstanding borrowing capacity	$ 23,750,000	$ 23,750,000
Multi-currency revolving credit facility term	5 years
Letters of credit	$ 5,000,000
Swing line loans	$ 10,000,000
Loss on extinguishment of debt				$ (107,000)
Interest rate description	Loans made under the Credit Facility bear interest at either (1) a rate per annum equal to the highest of the Administrative Agent's prime rate, or 0.5% in excess of the Federal Funds Effective Rate or 2.0% in excess of one-month LIBOR (the "Base Rate"), plus an applicable margin, or (2) the one-, two-, three-, or six-month per annum LIBOR for deposits in U.S. Dollars, plus an applicable margin.
Percentage of federal funds effective rate	0.50%
Long-term debt, discount	$ 708,000	673,000			$ 717,000
Additional fees related to the debt			$ 159,000
Amortization of unamortized debt discount		44,000		27,000
Capitalized deferred financing costs	501,000	382,000
Capitalized deferred financing costs, current		100,000
Capitalized deferred financing costs, noncurrent		282,000
Deferred financing cost, amortization		$ 25,000		$ 20,000
Credit facility, interest rate		2.01%
Accordion Feature
Debt Instrument [Line Items]
Revolving credit facility maximum borrowing capacity	200,000,000
Maximum
Debt Instrument [Line Items]
Credit facility, outstanding borrowing capacity	$ 125,000,000
Commitment fees percentage	0.30%
Minimum
Debt Instrument [Line Items]
Commitment fees percentage	0.20%
One Month London Inter bank Offered Rate
Debt Instrument [Line Items]
Credit facility, basis spread on variable rate	2.00%
Base Rate | Maximum
Debt Instrument [Line Items]
Leverage ratio	1.25%
Base Rate | Minimum
Debt Instrument [Line Items]
Leverage ratio	0.50%
London Interbank Offered Rate (LIBOR) | Maximum
Debt Instrument [Line Items]
Leverage ratio	2.25%
London Interbank Offered Rate (LIBOR) | Minimum
Debt Instrument [Line Items]
Leverage ratio	1.50%

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Income Taxes [Line Items]
Effective income tax rate	(111.40%)	11.80%
Pre-tax income	$ 2,630	$ 13,328
Ireland statutory corporate income tax rate	12.50%	12.50%
Reasonably possible unrecognized tax benefits, inclusive of interest, decrease in next 12 months	$ 328

Share-Based Awards - Additional

Share-Based Awards - Additional Information (Detail)	Jan. 31, 2016	Sep. 30, 2011	Mar. 31, 2016$ / sharesshares	Sep. 30, 2015USD ($)shares	Dec. 31, 2012Eventshares
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Requisite service period for service-based awards			4 years
Weighted average grant-date fair value of awards granted | $ / shares			$ 41.37
Performance Based Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Service-based stock, granted			411,804
Service Based Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Service-based stock, granted			969,492
2011 Stock Option and Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Ordinary shares, reserved for issuance			7,282,645
Maximum percentage of outstanding stock by which shares reserved for issuance may increase in accordance with the plan	4.75%
Requisite service period for service-based awards			4 years
2011 Stock Option and Incentive Plan | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options granted, maximum term		7 years
2012 Employee Share Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares authorized for ESPP					400,000
Minimum days employed to be eligible to purchase shares					30 days
Minimum customary hours were per week to be eligible to purchase shares					20 hours
Ownership percentage that disqualifies employee from participating in the ESPP					5.00%
Minimum number of offerings annually | Event					1
Term of offering					6 months
Minimum notice for employee to participate in offering			Each eligible employee may elect to participate in any offering by submitting an enrollment form at least 15 days before the relevant offering date.
Maximum percentage of employee's base compensation eligible				15.00%
Purchase price as a percentage of market fair value				85.00%
Maximum shares that can be purchase by each employee per offering period				2,500
Maximum amount that can be purchased by each employee | $				$ 25,000

Stock Option Activity (Detail)

Stock Option Activity (Detail) - Stock Options	3 Months Ended
	Mar. 31, 2016$ / sharesshares
Number of Shares
Outstanding at beginning of period | shares	362,940
Granted | shares	0
Exercised | shares	(14,963)
Forfeited and canceled | shares	(416)
Outstanding at end of period | shares	347,561
Vested and expected to vest at end of period | shares	347,294
Exercisable at end of period | shares	329,712
Weighted-Average Exercise Price per Share
Outstanding at beginning of period | $ / shares	$ 5.54
Granted | $ / shares	0
Exercised | $ / shares	10.05
Forfeited and canceled | $ / shares	10.01
Outstanding at end of period | $ / shares	5.34
Vested and expected to vest at end of period | $ / shares	5.34
Exercisable at end of period | $ / shares	$ 5.05

Summary of Unvested Restricted

Summary of Unvested Restricted Stock Units and Performance Stock Unit (Detail) - Restricted Stock Units (RSUs) And Performed Stock Units (PSUs)	3 Months Ended
	Mar. 31, 2016$ / sharesshares
Number of Unvested RSUs and PSUs
Unvested balance at December 31, 2015 | shares	2,199,652
Granted | shares	1,381,296
Vested | shares	(427,359)
Forfeited | shares	(21,268)
Unvested balance at March 31, 2016 | shares	3,132,321
Weighted Average Grant-Date Fair Value
Unvested balance at December 31, 2015 | $ / shares	$ 36.17
Granted | $ / shares	41.37
Vested | $ / shares	34.20
Forfeited | $ / shares	37.47
Unvested balance at March 31, 2016 | $ / shares	$ 38.72

Share-based Compensation Expens

Share-based Compensation Expense from All Awards (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based compensation expense	$ 8,267	$ 4,543
Cost Of Subscription Revenue
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based compensation expense	410	251
Sales and Marketing
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based compensation expense	2,900	1,824
Research and Development
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based compensation expense	1,237	673
General and Administrative Expense
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based compensation expense	$ 3,720	$ 1,795

Basic and Diluted Net Income (L

Basic and Diluted Net Income (Loss) Per Share (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Basic net income per share:
Net income	$ 5,561	$ 11,751
Weighted average ordinary shares outstanding-basic	38,768,333	37,989,086
Net income per share-basic	$ 0.14	$ 0.31
Diluted net income per share:
Net income	$ 5,561	$ 11,751
Weighted average ordinary shares outstanding-basic	38,768,333	37,989,086
Dilutive effect of ordinary share equivalents	830,699	1,036,130
Weighted average ordinary shares outstanding-diluted	39,599,032	39,025,216
Net income per share-diluted	$ 0.14	$ 0.30

Future Minimum Lease Payments U

Future Minimum Lease Payments Under Non-cancelable Operating and Capital Leases (Detail) $ in Thousands	Mar. 31, 2016USD ($)
Operating Leases
2,016	$ 8,323
2,017	9,863
2,018	5,188
2,019	4,001
2,020	3,665
Thereafter	2,095
Total	33,135
Capital Leases
2,016	1,782
2,017	1,881
2,018	681
2,019	100
2,020	94
Thereafter	461
Total	4,999
Less amount representing interest	(115)
Present value of minimum lease payments	4,884
Total
2,016	10,105
2,017	11,744
2,018	5,869
2,019	4,101
2,020	3,759
Thereafter	2,556
Total	$ 38,134

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) $ in Thousands	Mar. 31, 2016USD ($)
Commitment And Contingencies [Line Items]
Future minimum payments under non-cancelable data center agreements, Total	$ 3,041
Future minimum payments under non-cancelable data center agreements, due in 2016	1,388
Future minimum payments under non-cancelable data center agreements, due in 2017	1,587
Future minimum payments under non-cancelable data center agreements, due in 2018	66
Purchase commitments	7,149
Purchase commitments payable on 2016	2,833
Purchase commitments payable on 2017	3,346
Purchase commitments payable on 2018	951
Purchase commitments payable on 2019	$ 19