Patriot National 10-Q 14 Nov 16 2016 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2016	Nov. 14, 2016
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q3
Trading Symbol	PN
Entity Registrant Name	Patriot National, Inc.
Entity Central Index Key	1,619,917
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding		26,856,799

Consolidated Balance Sheet (Una

Consolidated Balance Sheet (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Current Assets
Cash	$ 13,193	$ 8,372
Equity and fixed income security investments		3,173
Total cash and investments	13,193	11,545
Restricted cash	17,589	16,055
Fee income receivable	9,418	8,159
Fee income receivable from related party	35,306	27,036
Net receivable from related parties	2,698	499
Other current assets	1,769	2,046
Total current assets	79,973	65,340
Fixed assets, net	5,311	5,092
Goodwill	121,683	118,141
Intangible assets	75,344	75,681
Forward purchase asset	57,511	28,120
Deferred tax asset, net	13,626
Advance on facilitation agreement	1,547	2,000
Other long term assets	11,153	11,428
Total Assets	366,148	305,802
Liabilities
Deferred claims administration services income	9,432	10,639
Net advanced claims reimbursements	3,623	1,835
Income taxes payable	6,040	2,996
Current earn-out payable	4,746	10,556
Accounts payable, accrued expenses and other liabilities	42,867	32,809
Deferred purchase consideration		6,128
Revolver borrowings outstanding	33,932	18,032
Current portion of notes payable	6,875	5,500
Current portion of capital lease obligation	414	2,232
Total current liabilities	107,929	90,727
Earn-out payable	6,940	1,827
Notes payable, net of deferred loan fees	93,437	98,648
Warrant redemption liability	57,511	28,120
Total Liabilities	265,817	219,322
Equity
Preferred stock, $.001 par value; 100,000 shares authorized, no shares issued and outstanding as of September 30, 2016 and December 31, 2015
Common stock, $.001 par value; 1,000,000 shares authorized, 26,845 issued and 26,487 outstanding as of September 30, 2016 and 28,105 issued and 27,550 outstanding as of December 31, 2015	21	21
Additional paid in capital	114,311	119,999
Accumulated deficit	(13,869)	(33,305)
Total Patriot National, Inc. Stockholders' Equity	100,463	86,715
Less Non-controlling interest	(132)	(235)
Total Equity	100,331	86,480
Total Liabilities and Equity	$ 366,148	$ 305,802

Consolidated Balance Sheet (Un3

Consolidated Balance Sheet (Unaudited) (Parenthetical) - $ / shares	Sep. 30, 2016	Dec. 13, 2015
Statement Of Financial Position [Abstract]
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, authorized	100,000,000	100,000,000
Preferred stock, issued	0	0
Preferred Stock, outstanding	0	0
Common stock, par value	$ 0.001	$ 0.001
Common stock, authorized	1,000,000,000	1,000,000,000
Common stock, issued	26,845,000	28,105,000
Common Stock, outstanding	26,487,000	27,550,000

Consolidated Statements of Oper

Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Revenues
Fee income		$ 37,967	$ 34,759	$ 118,867	$ 80,060
Fee income from related party		22,253	23,773	62,690	68,852
Total fee income and fee income from related party		60,220	58,532	181,557	148,912
Net investment income		2	49	37	85
Net realized losses on investments			(58)	(295)	(149)
Total Revenues		60,222	58,523	181,299	148,848
Expenses
Salaries and related expenses		23,449	21,549	69,430	53,782
Commission expense		11,865	8,173	35,992	25,556
Outsourced services		3,930	2,369	11,125	7,623
Other operating expenses		10,139	11,967	29,437	25,252
Acquisition costs		383	1,453	1,408	4,372
Interest expense		1,555	868	4,343	2,731
Depreciation and amortization		4,743	4,380	14,160	10,075
Stock compensation expense		1,037	2,586	3,738	8,791
Increase (Decrease) in fair value of earn-out liability		19		(1,913)
Decrease in fair value of warrant redemption liability					(1,385)
Costs related to extinguishment of debt	[1]				13,681
Total Expenses		57,120	53,345	167,720	150,478
Net Income (Loss) before income tax (benefit) expense		3,102	5,178	13,579	(1,630)
Income tax (benefit) expense		1,188	1,331	(5,960)	(1,733)
Net Income Including Non-Controlling Interest in Subsidiary		1,914	3,847	19,539	103
Net Income attributable to non-controlling interest in subsidiary		38	59	103	111
Net Income (Loss)		$ 1,876	$ 3,788	$ 19,436	$ (8)
Earnings Per Common Share
Basic		$ 0.06	$ 0.14	$ 0.65	$ 0
Diluted		$ 0.06	$ 0.14	$ 0.64	$ 0
Weighted Average Common Shares Outstanding
Basic		31,316	26,802	29,881	26,006
Diluted		32,105	27,940	30,566	26,006
[1]	Costs related to extinguishment of debt include $4.3 million of early payment penalties and $9.3 million associated with the write-off of related deferred financing fees and original issue discounts.

Consolidated Statements of Ope5

Consolidated Statements of Operations (Unaudited) (Parenthetical) $ in Thousands	9 Months Ended
	Sep. 30, 2015USD ($)
Income Statement [Abstract]
Early payment penalties on repayment of debt	$ 4,300
Write-off of deferred financing and original issue discounts	$ 9,342

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Operating Activities
Net Income	$ 19,539	$ 103
Adjustments to reconcile net income (loss) to net cash from operating activities:
Depreciation and amortization	14,160	10,075
Amortization of loan costs in interest expense	473	206
Amortization of facilitation agreement	453
Decrease in fair value of warrant redemption liability		(1,385)
Increase (Decrease) in fair value of earn-out liability	(1,913)
Net realized losses on investments	295	149
Stock compensation expense	3,738	8,791
Deferred tax benefit from release of valuation allowance	(13,626)
Exercise of stock awards	(182)
Write-off of deferred financing and original issue discounts		9,342
Provision for uncollectible fee income	460	351
Decrease (increase) in:
Fee income receivable	(244)	(8,212)
Fee income receivable from related party	(8,270)	(10,153)
Other current assets	138	(1,715)
Increase (decrease) in:
Net payable to related parties	(2,199)	781
Deferred claims administration services income	(1,207)	539
Net advanced claims reimbursements	1,788	237
Income taxes payable	3,044	(14,081)
Accounts payable and accrued expenses	9,845	11,963
Net Cash Provided by Operating Activities	26,292	6,991
Investment Activities:
Net increase in restricted cash	(1,534)	(4,528)
Purchase of equity securities	(300)	(3,662)
Proceeds from sale of equity securities	3,178	264
Purchase of fixed assets and other long-term assets	(3,548)	(4,565)
Acquisitions, net of $28 and $4,069 cash acquired in 2016 and 2015, respectively	(8,969)	(74,014)
Net Cash Used in Investment Activities	(11,173)	(86,505)
Financing Activities:
Proceeds from initial public offering, net		98,275
Proceeds from senior secured term loans, net of fees		107,497
Repayment of senior secured term loans	(4,125)	(2,125)
Payment of loan fees	(165)
Payment of costs for initial public offering		(2,479)
Revolver facility borrowings	15,900	51,900
Revolver facility repayments		(41,068)
Payment of acquisition earn-outs	(6,529)
Payment of deferred purchase consideration	(4,850)
Repurchase of common stock	(8,711)
Repayment of note payable		(119,573)
Repayment of capital lease obligation	(1,818)	(1,955)
Net Cash (Used in) Provided by Financing Activities	(10,298)	90,472
Increase in cash	4,821	10,958
Cash, beginning of period	8,372	4,251
Cash, end of period	13,193	15,209
Supplemental Cash Flow Data
Interest Paid	3,795	2,504
Income Taxes Paid	$ 4,626	$ 11,062

Consolidated Statements of Cas7

Consolidated Statements of Cash Flows (Unaudited) (Parenthetical) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Statement Of Cash Flows [Abstract]
Cash acquired for acquisition	$ 28	$ 4,069

Consolidated Statements of Stoc

Consolidated Statements of Stockholders Equity (Deficit) (Unaudited) - 9 months ended Sep. 30, 2016 - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Treasury Stock	Additional Paid In Capital	Accumulated Deficit	Non-Controlling Interest
Balance at Dec. 31, 2015	$ 86,480	$ 21		$ 119,999	$ (33,305)	$ (235)
Balance (in Shares) at Dec. 31, 2015		28,105
Repurchase of common stock	(8,711)		$ (8,711)
Repurchase of common stock, shares		(1,360)
Retirement of treasury stock			$ 8,711	(8,711)
Non-cash stock compensation	3,738			3,738
Purchase of minority interest in MPCS Pvt Ltd	(1,096)			(1,096)
Issuance of common stock for deferred purchase consideration	563			563
Restricted stock awards issued, net of forfeitures	(182)			(182)
Restricted stock awards issued, net of forfeitures, shares		100
Net Income	19,539				19,436	103
Balance at Sep. 30, 2016	100,331	$ 21		114,311	(13,869)	(132)
Balance (in Shares) at Sep. 30, 2016		26,845
Balance before Net Income	$ 80,792	$ 21		$ 114,311	$ (33,305)	$ (235)
Balance before Net Income, shares		26,845

Description of Business and Bas

Description of Business and Basis of Presentation	9 Months Ended
	Sep. 30, 2016
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Description of Business and Basis of Presentation	1. Description of Business and Basis of Presentation Description of Business Patriot National, Inc. (“Patriot National” or the “Company”) is an independent national provider of comprehensive technology-enabled outsourcing solutions that help insurance carriers, employers and other clients mitigate risk, comply with complex regulations, and save time and money. We offer end-to-end insurance related and specialty services that allow our clients to improve efficiencies and reduce expenses through our value-added processes. The core of our value proposition includes the benefit of a “one-stop” solution with our broad array of offered services, scalable state-of-the-art technology, and support for complex business and regulatory processes. We principally offer two types of services: front-end services, such as brokerage, underwriting and policyholder services, and back-end services, such as claims adjudication and administration. We provide our services either on an individual basis, as bundles of two or more services tailored to a client’s specific needs or on a turnkey basis where we provide a comprehensive set of front-end and back-end services to a client. We also offer specialty services currently including technology outsourcing and other IT services, as well as employment pre-screening and background checks. As a service company, we do not assume any underwriting or insurance risk. Our revenue is primarily fee-based, most of which is contractually committed or highly recurring. Patriot National is headquartered in Ft. Lauderdale, Florida. Basis of Presentation The accompanying unaudited consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (GAAP) and pursuant to the rules and regulations of the Securities and Exchange Commission. Certain information and footnote disclosures normally included in annual financial statements have been omitted pursuant to such rules and regulations. Included for comparative purposes are our consolidated financial statements for the nine month period ended September 30, 2015. The unaudited consolidated financial statements included herein are, in the opinion of management, prepared on a basis consistent with our audited consolidated financial statements for the year ended December 31, 2015 and include all normal recurring adjustments necessary for a fair presentation of the information set forth. The quarterly results of operations are not necessarily indicative of the results of operations to be reported for subsequent quarters or the full year. These unaudited consolidated financial statements should be read in conjunction with the audited consolidated financial statements and the notes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2015. In the preparation of our unaudited consolidated financial statements as of September 30, 2016, management evaluated all material subsequent events or transactions that occurred after the balance sheet date through the date on which the financial statements were issued for potential recognition or disclosure therein. For the Company’s two consolidated subsidiaries, Contego Services Group, LLC (“Contego Services Group”) that is 97% owned, and DecisionUR, LLC (“DecisionUR”) that is 98.8% owned, the third party equity interests are referred to as non-controlling interests. The portion of the third party members’ equity (deficit) of Contego Services Group and DecisionUR are presented as non-controlling interests in the accompanying consolidated balance sheets as of September 30, 2016 and consolidated balance sheet as of December 31, 2015. The Company discloses the following three measures of net income (loss): (i) net income (loss), including non-controlling interest in subsidiary, (ii) net income (loss) attributable to non-controlling interest in subsidiary, and (iii) net income (loss).

Effect of Recently Issued Finan

Effect of Recently Issued Financial Accounting Standards	9 Months Ended
	Sep. 30, 2016
New Accounting Pronouncements And Changes In Accounting Principles [Abstract]
Effect of Recently Issued Financial Accounting Standards	2. Effect of Recently Issued Financial Accounting Standards In August, 2016 the Financial Accounting Standards Board (“FASB”) issued ASU 2016-15 to clarify whether the following items should be categorized as operating, investing or financing in the statement of cash flows: (i) debt prepayments and extinguishment costs, (ii) settlement of zero-coupon debt, (iii) settlement of contingent consideration, (iv) insurance proceeds, (v) settlement of corporate-owned life insurance (COLI) and bank-owned life insurance (BOLI) policies, (vi) distributions from equity method investees, (vii) beneficial interests in securitization transactions, and (viii) receipts and payments with aspects of more than one class of cash flows. The new standard takes effect in 2018 for public companies. If an entity elects early adoption, it must adopt all of the amendments in the same period. The company is reviewing the impact of this update and the impact on its financial statements. In March 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-09, “Improvements to Employee Share-Based Payment Accounting”, an update to Accounting Standard Codification (“ASC”) Topic 718, Compensation – Stock Compensation In February 2016, the FASB issued ASU 2016-02, intended to improve financial reporting about leasing transactions. ASU 2016-02 affects all companies and other organizations that lease assets such as real estate, airplanes, and manufacturing equipment. ASU 2016-02 will require organizations that lease assets—referred to as “lessees”—to recognize on the balance sheet the assets and liabilities for the rights and obligations created by those leases. Under the new guidance, a lessee will be required to recognize assets and liabilities for leases with lease terms of more than 12 months. Consistent with current Generally Accepted Accounting Principles (GAAP), the recognition, measurement, and presentation of expenses and cash flows arising from a lease by a lessee primarily will depend on its classification as a finance or operating lease. However, unlike current GAAP—which requires only capital leases to be recognized on the balance sheet—ASU 2016-02 will require both types of leases to be recognized on the balance sheet. ASU 2016-02 also will require disclosures to help investors and other financial statement users better understand the amount, timing, and uncertainty of cash flows arising from leases. These disclosures include qualitative and quantitative requirements, providing additional information about the amounts recorded in the financial statements. ASU 2016-02 will take effect for public companies for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018. For all other organizations, ASU 2016-02 will take effect for fiscal years beginning after December 15, 2019, and for interim periods within fiscal years beginning after December 15, 2020. Early application will be permitted for all organizations. The Company is currently reviewing the impact that implementing this guidance will have. In November 2015, the FASB issued ASU 2015-17, “Balance Sheet Classification of Deferred Taxes,” which simplifies the presentation of deferred income taxes by requiring deferred tax assets and liabilities be classified as noncurrent on the balance sheet. The updated standard is effective for us beginning on January 1, 2017 with early application permitted as of the beginning of any interim or annual reporting period. We adopted the new guidance on January 1, 2016, which did not have a material impact on our consolidated financial statements. In September 2015, the FASB issued ASU 2015-16, “Simplifying the Accounting for Measurement-Period Adjustments”, an update to ASC Business Combinations We adopted the new guidance on January 1, 2016, which did not have a material impact on our consolidated financial statements. In April 2015, the FASB issued ASU 2015-03, “Simplifying the Presentation of Debt Issuance Costs”. The update requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of the related debt liability instead of being presented as an asset. The update requires retrospective application. ASU 2015-03 is effective for fiscal years, and interim reporting periods within those years, beginning after December 15, 2015. We adopted this new guidance beginning January 1, 2016. In August 2014, the FASB issued ASU ASC Presentation of Financial Statements – Going Concern In May 2014, the FASB issued ASU Revenue from Contracts with Customers

Business Combinations

Business Combinations	9 Months Ended
	Sep. 30, 2016
Business Combinations [Abstract]
Business Combinations	3. Business Combinations The Company completed one acquisition during the nine-month period ended September 30, 2016. We acquired substantially all of the net assets of Mid Atlantic Insurance Services, Inc. in a cash transaction, and have accounted for it using the acquisition method for recording business combinations. The total purchase price was comprised of the following consideration (in thousands): Name and Effective Date of Acquisition (In thousands): Cash Paid Stock Issued Accrued Liability Recorded Earnout Payable Maximum Potential Earnout Payable Total Recorded Purchase Price Mid Atlantic Insurance Services, Inc (January 28, 2016) $ 7,901 $ — $ 926 $ 7,750 $ 8,500 $ 15,651 In addition to the Mid Atlantic acquisition, the Company consummated the purchase of the minority interest in Mehta and Pazol Consulting Services Private Limited (“MPCS”) in the amount of $1.1 million. In connection with the acquisition of Vikaran Solutions, LLC on April 1, 2015, we also agreed to purchase all of the outstanding stock of MPCS, an Indian company which holds Vikaran’s software development center located in Pune, India, for a purchase price of approximately $1.5 million. During 2015, we consummated the purchase of 51% of the MPCS stock, treated as a deemed dividend for the common control interest contributed by Mr. Mariano. Effective with the acquisition of the remaining interest on April 19, 2016, the Company now holds 100% of the MPCS stock. The “maximum potential earnout payable” disclosed in the foregoing table represents the maximum amount of additional consideration that could be paid pursuant to the terms of the purchase agreement for the applicable acquisition. The “recorded earnout payable” disclosed in the foregoing table are primarily based upon the estimated future operating results of the acquired entity over a five-year period subsequent to the acquisition date. The recorded earnout payable is measured at fair value as of the acquisition date and is included on that basis in the total recorded purchase price in the foregoing table. We will record subsequent changes in the fair value of these estimated earnout obligations in our statement of operations when incurred. The fair value of these earnout obligations is based on the present value of the expected future payments to be made to the sellers of the acquired entities in accordance with the provisions outlined in the respective purchase agreements, which is a Level 3 fair value measurement, as discussed further in Note 11, Fair Value of Financial Assets and Liabilities The Company recorded income of $1.9 million for the nine months ended September 30, 2016 related to a decrease in the fair value of earnout obligations. The decrease in fair value reflects the final computations and management estimates of certain earnouts pursuant to the respective purchase agreements for acquisitions as of September 30, 2016. The aggregate amount of maximum earnout obligations related to acquisitions as of September 30, 2016 was $13.2 million, of which $11.7 million was recorded in our consolidated balance sheet as of September 30, 2016, based on the aggregate estimated fair value of the expected future payments to be made. The following is a summary of the aggregate estimated fair values of the net assets acquired at the date of the acquisition made during the nine months ended September 30, 2016: In thousands Total Assets Acquired: Cash $ 28 Restricted cash — Accounts receivable 1,481 Fixed assets 50 Other assets — Goodwill 4,893 Intangible assets: Customer & carrier relationships 9,205 Service contracts — Non-compete agreements 120 Developed technology — Trade name portfolio 800 Total intangible assets 10,125 Total assets acquired 16,577 Liabilities assumed 926 Total net assets acquired $ 15,651 The net assets acquired are preliminary and subject to measurement period adjustments. In accordance with FASB ASC 350, Intangibles—Goodwill and Other, intangible assets, which are comprised of the estimated fair value of the service contracts acquired, customer and carrier relationships, non-compete agreements, developed technology and trade names are being amortized over the respective estimated life, ranging from two to ten years, in a manner that, in management’s opinion, reflects the pattern in which the intangible asset’s future economic benefits are expected to be realized. Intangible assets are tested for impairment at least annually (more frequently if certain indicators are present). In the event that management determines that the value of the intangible asset has become impaired, the Company will incur an accounting charge for the amount of impairment during the fiscal quarter in which the determination is made. Provisional estimates of fair value and the allocation of the purchase price are established at the time of each acquisition and are subsequently reviewed within the first year of operations, the measurement period, following the acquisition date to determine the necessity for adjustments. The fair value of the tangible assets and liabilities for each applicable acquisition at the acquisition date approximated their carrying values. We estimate the fair value as the present value of the benefits anticipated from ownership of the subject customer list in excess of returns required on the investment in contributory assets necessary to realize those benefits. The rate used to discount the net benefits was based on a risk-adjusted rate that takes into consideration market-based rates of return and reflects the risk of the asset relative to the acquired business. These discount rates generally ranged from 17% to 30% for our acquisitions through September 30, 2016. The fair value of non-compete agreements was established using estimated financial projections for the acquired company based on market participant assumptions and various non-compete scenarios. Customer and carrier relationships, non-compete agreements and trade names related to our acquisitions are amortized using the straight-line method over their estimated useful lives (ten years for customer and carrier relationships, one to two years for non-compete agreements and five to seven years for trade names), while goodwill is not subject to amortization. We use the straight-line method to amortize these intangible assets because the pattern of their economic benefits cannot be reasonably determined with any certainty. We review all of our intangible assets for impairment periodically (at least annually) and whenever events or changes in business circumstances indicate that the carrying value of the assets may not be recoverable. In reviewing intangible assets, if the fair value is less than the carrying amount of the respective (or underlying) asset, an indicator of impairment would exist, and further analysis would be required to determine whether or not a loss would need to be charged against current period earnings. Based on the results of impairment reviews during the nine-month periods ended September 30, 2016 and 2015, no impairments were required. Our consolidated financial statements for the nine months ended September 30, 2016 include the operations of the acquired entity from the acquisition date totaling $4.6 million of revenues and $36 thousand of net loss. The following is a summary of the unaudited pro forma historical results, as if the entities acquired in 2015 and 2016 had been acquired at January 1, 2015 (in thousands, except per share data): Nine Months Ended September 30, In thousands (except per share data) 2016 2015 Total revenues 181,834 178,998 Net income (loss) 19,438 1,541 Basic net income (loss) per share $ 0.65 $ 0.06 Diluted net income (loss) per share $ 0.64 $ 0.06 This unaudited supplemental pro forma financial information includes the results of operations of acquired businesses presented as if they had been combined as of January 1, 2015. The unaudited supplemental pro forma financial information has been provided for illustrative purposes only. The unaudited supplemental pro forma financial information does not purport to be indicative of the actual results that would have been achieved by the combined companies for the periods presented, or of the results that may be achieved by the combined companies in the future. Future results may vary significantly from the results reflected in the following unaudited supplemental pro forma financial information because of future events and transactions, as well as other factors, many of which are beyond the Company’s control.

Equity and Fixed Income Securit

Equity and Fixed Income Security Investments	9 Months Ended
	Sep. 30, 2016
Investments Debt And Equity Securities [Abstract]
Equity and Fixed Income Security Investments	4. Equity and Fixed Income Security Investments Equity and fixed income security investments are carried at fair value. We classify these investments as a trading portfolio with c As of December 31, 2015 the fair value of our investments was $3.2 million. There were no investments held as of September 30, 2016.

Fixed Assets And Other Long Ter

Fixed Assets And Other Long Term Assets	9 Months Ended
	Sep. 30, 2016
Fixed Assets And Other Long Term Assets [Abstract]
Fixed Assets And Other Long Term Assets	5 . Fixed Assets and Other Long Term Assets Fixed Assets Fixed assets are stated at cost, less accumulated depreciation and amortization. Expenditures for computer equipment, software, and furniture and fixtures are capitalized and depreciated on a straight-line basis over a five, three, and seven year estimated useful lives, respectively. Expenditures for building are capitalized and depreciated on a straight-line basis over a thirty-nine year estimated useful life. Expenditures for leasehold improvements on office space and facilities are capitalized and amortized on a straight-line basis over the term of the lease. As of September 30, 2016 and December 31, 2015, our major classes of fixed assets consisted of the following: In thousands September 30, 2016 December 31, 2015 (Unaudited) Fixed Assets Computer equipment, software and furniture and fixtures $ 9,384 $ 8,124 Building 1,428 1,428 Leasehold improvements 3,822 3,733 Total fixed assets 14,634 13,285 Less accumulated depreciation and amortization (9,323 ) (8,193 ) Fixed assets, net of accumulated depreciation and amortization $ 5,311 $ 5,092 Other Long Term Assets Other long term assets, which are solely comprised of capitalized policy and claims administration system development costs, are also stated at cost, net of accumulated depreciation. Expenditures for capitalized policy and claims administration system development costs are capitalized and depreciated on a straight line basis over a five-year estimated useful life. As of September 30, 2016 and December 31, 2015, other long term assets consisted of the following: In thousands September 30, 2016 December 31, 2015 (Unaudited) Other long term assets Capitalized policy and claims administration system development costs $ 19,982 $ 17,712 Less accumulated depreciation (8,829 ) (6,284 ) Other long term assets, net of accumulated depreciation $ 11,153 $ 11,428 We periodically review all fixed assets and other long term assets that have finite lives for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. Upon sale or retirement, the cost and related accumulated depreciation and amortization of assets disposed of are removed from the accounts, and any resulting gain or loss is reflected in earnings.

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	9 Months Ended
	Sep. 30, 2016
Goodwill And Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	6. Goodwill and Other Intangible Assets Goodwill Goodwill represents the excess of consideration paid over the fair value of net assets acquired. Goodwill is not amortized but is tested at least annually for impairment (or more frequently if certain indicators are present or management otherwise believes it is appropriate to do so). In the event that management determines that the value of goodwill has become impaired, we will record a charge for the amount of impairment during the fiscal quarter in which the determination is made. We determined that there was no impairment as of September 30, 2016. The Company acquired $4.9 million of goodwill during the nine-month period ended September 30, 2016 as a result of the acquisitions discussed in Note 3, Business Combinations In thousands Balance as of December 31, 2015 $ 118,141 Goodwill acquired 4,893 Acquisition adjustments (1,351 ) Balance as of September 30, 2016 $ 121,683 For the nine months ended September 30, 2016, the Company recorded measurement period adjustments to Goodwill of $1.4 million, which reflects an increase in the carrying amount of tangible net assets related to certain acquisitions. Provisional estimates of fair value of the tangible assets and liabilities for each applicable acquisition at the acquisition date were established and reviewed within the first year of operation. Intangible Assets Intangible assets that have finite lives are amortized over their useful lives. The Company acquired $10.1 million of intangible assets during the nine-month period ended September 30, 2016 as a result of the acquisitions discussed in Note 3, Business Combinations September 30, 2016 December 31, 2015 In thousands Gross Asset Accumulated Amortization Net Asset Gross Asset Accumulated Amortization Net Asset (Unaudited) Intangible Assets Service contracts $ 35,120 $ (9,501 ) $ 25,619 $ 35,120 $ (6,204 ) $ 28,916 Customer and carrier relationships 40,243 (4,899 ) 35,344 31,039 (1,947 ) 29,092 Non-compete agreements 4,860 (3,326 ) 1,534 4,739 (1,505 ) 3,234 Developed technology 13,268 (3,636 ) 9,632 13,268 (1,647 ) 11,621 Trade names 3,829 (614 ) 3,215 3,029 (211 ) 2,818 Total $ 97,320 $ (21,976 ) $ 75,344 $ 87,195 $ (11,514 ) $ 75,681 The table below reflects the estimated amortization expense for the Company’s intangible assets for each of the next five years and thereafter: In thousands September 30, 2016 Amortization expense (Unaudited) 2016 (remaining three months) $ 3,515 2017 12,554 2018 11,629 2019 11,629 2020 9,984 Thereafter 26,033 Total $ 75,344

Notes Payable and Lines of Cred

Notes Payable and Lines of Credit	9 Months Ended
	Sep. 30, 2016
Debt Disclosure [Abstract]
Notes Payable and Lines of Credit	7. Notes Payable and Lines of Credit As of September 30, 2016 and December 31, 2015, notes payable were comprised of the following: In thousands September 30, 2016 December 31, 2015 (Unaudited) BMO Senior Secured Term Loans $ 102,375 $ 106,500 Less current portion of notes payable (6,875 ) (5,500 ) Less deferred loan fees (2,063 ) (2,352 ) Notes Payable $ 93,437 $ 98,648 Senior Secured Credit Facility On January 22, 2015, we entered into a Credit Agreement with BMO Harris Bank N.A., as administrative agent (the “Administrative Agent”), and the other lenders party thereto, which provides for a $40.0 million revolving credit facility and a $40.0 million term loan facility (the “Senior Secured Credit Facility”). The Senior Secured Credit Facility has a maturity of five years, and borrowings thereunder bear interest, at our option, at LIBOR plus a margin ranging from 250 basis points to 325 basis points or at base rate plus a margin ranging from 150 basis points to 225 basis points. Margins on all loans and fees will be increased by 2% per annum during the existence of an event of default. The revolving credit facility includes borrowing capacity available for letters of credit and borrowings on same-day notice, referred to as swing line loans. At any time prior to maturity, we have the right to increase the size of the revolving credit facility or the term loan facility by an aggregate amount of up to $20.0 million, but in minimum increments of $5.0 million. As of June 30, 2015, we increased the term loan facility by $20.0 million through two $10.0 million incremental term loans. Additionally, on August 14, 2015, we entered into a second amendment to our Senior Secured Credit Facility (the “Second Amendment”) which provides for an additional $50.0 million of term loans plus the ability to increase the term loan by an additional $50.0 million under certain conditions. The Second Amendment also added a requirement that until we deliver a certificate certifying that (a) our total leverage ratio is equal to or less than 2.25 to 1.00 and (b) our Adjusted EBITDA for the twelve-months then ended is at least $70.0 million, the outstanding revolving loans (plus any swing line loans and the aggregate stated amount of all letters of credit) shall not exceed $30.0 million. On December 23, 2015 we entered into a third amendment, which permits Patriot to exercise the provisions of the Rescission and Exchange Agreement for the private placement of company stock and warrants, and related Back-to-Back Agreement with the selling shareholder, as described in Note 12, Related Party Transactions. On March 3, 2016, we entered into a fourth amendment, which permits Patriot to repurchase shares of its outstanding common stock pursuant to certain volume and timing limitations. On May 16, 2016, we entered into a fifth amendment, which amended the conditions under which we access the revolving loan commitments. All other material terms and conditions in the Senior Secured Credit Facility were unchanged by the amendments. As of September 30, 2016 the outstanding balance under our Senior Secured Credit Facility was $136.3 million (comprised of $102.4 million outstanding under the term loan facility and $33.9 million outstanding under the revolving credit facility). Accordingly, we had $6.1 million remaining commitment under the revolving credit facility. In addition to paying interest on outstanding principal under the Senior Secured Credit Facility, we are required to pay a commitment fee to the Administrative Agent for the ratable benefit of the lenders under the revolving credit facility in respect of the unutilized commitments thereunder, ranging from 35 basis points to 50 basis points, depending on specified leverage ratios. With respect to letters of credit, we are also required to pay a per annum participation fee equal to the applicable LIBOR margin on the face amount of each letter of credit as well as a fee equal to 0.125% on the face amount of each letter of credit issued (or the term of which is extended). This latter 0.125% fee is payable to the issuer of the letter of credit for its own account, along with any standard documentary and processing charges incurred in connection with any letter of credit. The term loan facility amortizes quarterly beginning the first full quarter after the closing date at a rate of 5% per annum of the original principal amount during the first two years, 7.5% per annum of the original principal amount during the third and fourth years and 10% per annum of the original principal amount during the fifth year, with the remainder due at maturity. Principal amounts outstanding under the revolving credit facility are due and payable in full at maturity. In the event of any sale or other disposition by us or our subsidiaries guaranteeing the Senior Secured Credit Facility (as described below) of any assets with certain exceptions, we are required to prepay all proceeds received from such a sale towards the remaining scheduled payments of the term loan facility. Additionally, all obligations under the Senior Secured Credit Facility (as described below) are guaranteed by all of our existing and future subsidiaries, other than foreign subsidiaries to the extent the assets of such foreign subsidiaries do not exceed 5% of our and our subsidiaries’ total assets on a consolidated basis, and secured by a first-priority perfected security interest in substantially all of our and our guaranteeing subsidiaries’ tangible and intangible assets, whether now owned or hereafter acquired, including a pledge of 100% of the stock of each guarantor. The Senior Secured Credit Facility contains certain covenants that, among other things and subject to significant exceptions, limit our ability and the ability of our restricted subsidiaries to engage in certain business and financing activities and that require us to maintain certain financial covenants, including requirements to maintain (i) a maximum total leverage ratio of total outstanding debt to adjusted EBITDA for the most recently-ended four fiscal quarters of no more than 300% and (ii) a minimum fixed charge coverage ratio of adjusted EBITDA to the sum of cash interest expense plus income tax expense (or less any income tax benefits) plus capital expenditures, plus dividends, share repurchases and other restricted payments, plus regularly scheduled principal payments of debt for the same period of a least 150% for the most recently ended four quarters. The Senior Secured Credit Facility allows us to pay dividends in an amount up to 50% of our net income if certain other financial conditions are met. The Senior Secured Credit Facility contains other restrictive covenants, including those regarding: indebtedness (including capital leases) and guarantees; liens; operating leases; investments and acquisitions; loans and advances; mergers, consolidations and other fundamental changes; sales of assets; transactions with affiliates; no material changes in nature of business; dividends and distributions, stock repurchases, and other restricted payments; change in name, jurisdiction of organization or fiscal year; burdensome agreements; and capital expenditures. The Senior Secured Credit Facility also has events of default that may result in acceleration of the borrowings thereunder, including: (i) nonpayment of principal, interest, fees or other amounts (subject to customary grace periods for items other than principal); (ii) failure to perform or observe covenants set forth in the loan documentation (subject to customary grace periods for certain affirmative covenants); (iii) any representation or warranty proving to have been incorrect in any material respect when made; (iv) cross-default to other indebtedness and contingent obligations in an aggregate amount in excess of an amount to be agreed upon; (v) bankruptcy and insolvency defaults (with grace period for involuntary proceedings); (vi) inability to pay debts; (vii) monetary judgment defaults in excess of an agreed upon amount; (viii) ERISA defaults; (ix) change of control; (x) actual invalidity or unenforceability of any loan document, any security interest on any material portion of the collateral or asserted (by any loan party) invalidity or unenforceability of any security interest on any collateral; (xi) actual or asserted (by any loan party) invalidity or unenforceability of any guaranty; (xii) material unpaid, final judgments that have not been vacated, discharged, stayed or bonded pending appeal within a specified number of days after the entry thereof; and (xiii) any other event of default agreed to by us and the Administrative Agent. As of September 30, 2016, we were in compliance with the financial and other restrictive covenants under our outstanding material debt obligations, including our Senior Secured Credit Facility.

Capital Lease Obligations

Capital Lease Obligations	9 Months Ended
	Sep. 30, 2016
Debt Disclosure [Abstract]
Capital Lease Obligations	8. Capital Lease Obligations Equipment subject to capital lease is comprised of capitalized policy and claims administration software development costs and related computer equipment. Monthly payments on the capital lease, which expires on December 3, 2016, were approximately $0.2 million as of December 30, 2015. Payments may be adjusted in connection with a change in the interest rate swap rate quoted in the Bloomberg Swap Rate Report. The Company’s obligations for future payments on the capital lease as of September 30, 2016, based on the interest rate swap rate in effect on that date, are as follows: In thousands Principal Interest Total 2016 414 2 416

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 30, 2016
Earnings Per Share [Abstract]
Earnings Per Share	9. Earnings Per Share Basic earnings per share is computed based on the weighted average number of shares of common stock outstanding during the period. Diluted earnings per share is computed based on the weighted average number of shares of common stock plus the effect of dilutive potential common shares outstanding during the period using the treasury stock method. Dilutive potential common shares include detachable common stock warrants and stock-based awards of restricted shares and stock options, and contingent shares attributable to deferred purchase consideration. The components of basic and diluted EPS are as follows: Three Months Ended September 30, Nine Months Ended September 30, In thousands (except earnings per share) 2016 2015 2016 2015 Basic net earnings (loss) per share Net income (loss) available to common shareholders $ 1,876 $ 3,788 $ 19,436 $ (8 ) Weighted average number of common shares outstanding 31,316 26,802 29,881 26,006 Basic net earnings (loss) per share $ 0.06 $ 0.14 $ 0.65 $ (0.00 ) Diluted net earnings (loss) per share Net income (loss) available to common shareholders $ 1,876 $ 3,788 $ 19,436 $ (8 ) Adjustments to net income (loss) applicable to dilutive shares — — — — Net earnings (loss) attributable to diluted shares $ 1,876 $ 3,788 $ 19,436 $ (8 ) Weighted average number of common shares outstanding 31,316 26,802 29,881 26,006 Dilutive effect of warrants, options, and restricted shares using the treasury stock method 789 1,138 685 — Weighted average number of common and common equivalent shares outstanding 32,105 27,940 30,566 26,006 Diluted net earnings (loss) per share $ 0.06 $ 0.14 $ 0.64 $ (0.00 ) On March 3, 2016, the Board of Directors approved a $15 million stock repurchase program. Under the new Repurchase Program, the Company may repurchase up to a maximum of $15 million of its common stock. Pursuant to the Fourth Amendment to the BMO Credit Facility, the Company may purchase no more than 1,000,000 shares in any calendar month. Total purchases under the plan as of September 30, 2016 were 1,360,457 shares for a purchase price of $8.7 million in the open market. As of September 30, 2016, all 1,360,457 of the repurchased shares have been retired and none remain as treasury shares. For the nine months ended September 30, 2016 there were 1.1 million stock options that were not dilutive. Effective on April 7, 2016 the Series B warrants were fixed at 4.9 million shares. The Series B warrants are included in the computation of both basic and diluted earnings per share from April 7, 2016 until the warrant shares are settled in accordance with ASC 260. The weighted average impact from the Series B warrants to basic and diluted earnings per share for the nine months ended September 30, 2016 was 3.1 million shares. The Series A warrant shares are included in diluted earnings per share using the treasury stock method for the nine months ended September 30, 2016. As a result of the net income for the nine months ended September 30, 2016, basic earnings per share reflect $0.65 per share and the diluted earnings per share was $0.64 per share. Due to the net loss of $8 thousand reported for the nine months ended September 30, 2015, weighted average outstanding detachable common stock warrants representing 160,295, contingent shares attributable to deferred purchase consideration of 107,070, and restricted shares and stock options representing 114,634 shares of common stock were not dilutive. As a result, basic and diluted earnings per share both reflect a net loss of $0.00 per share for the nine months then ended.

Stock-Based Compensation

Stock-Based Compensation	9 Months Ended
	Sep. 30, 2016
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Stock-Based Compensation	10. Stock-Based Compensation Omnibus Incentive Plan On January 15, 2015, the Board of Directors approved the Patriot National 2014 Omnibus Incentive Plan (the “Omnibus Incentive Plan”), subject to and with effect upon approval of such plan by the stockholders of the Company. The Compensation Committee of our Board of Directors determines the participants under the Omnibus Incentive Plan. The Omnibus Incentive Plan provides for non-qualified and incentive stock options, restricted stock and restricted stock units, any or all of which may be made contingent upon the achievement of performance criteria. Subject to the Omnibus Incentive Plan limits, the compensation committee has the discretionary authority to determine the size of an award and on May 11, 2015 delegated the authority to Steven Mariano, our President, to award the grants without the consent of the Compensation Committee. Shares of our common stock available for issuance under the Omnibus Incentive Plan include authorized and unissued shares of common stock or authorized and issued shares of common stock reacquired and held as treasury shares or otherwise, or a combination thereof. The number of available shares is reduced by the aggregate number of shares that become subject to outstanding awards granted under the Omnibus Incentive Plan. To the extent that shares subject to an outstanding award granted under either the Omnibus Incentive Plan are not issued or delivered by reason of the expiration, termination, cancellation or forfeiture of such award or by reason of the settlement of such award in cash, then such shares will again be available for grant under the Omnibus Incentive Plan. Shares withheld to satisfy tax withholding requirements upon the vesting of awards other than stock options will also be available for grant under the Omnibus Incentive Plan. Shares that are used to pay the exercise price of an option, shares delivered to or withheld by us to pay withholding taxes related to stock options, and shares that are purchased on the open market with the proceeds of an option exercise, may not again be made available for issuance. Stock Options In the nine months ended September 30, 2016, we issued stock options as incentive compensation for officers and certain key employees. The exercise price of each stock option is the closing market price of our common stock on the date of grant. The options will vest in three Nine Months Ended September 30, In thousands 2016 2015 Expected dividend yield 0 % 0 % Risk-free interest rate (1) 0.49 % 0.49 % Expected volatility (2) 33.02 % 33.02 % Expected life in years (3) 3.0 3.0 (1) The risk-free interest rate for the periods within the contractual term of the options is based on the U.S. Treasury yield curve in effect at the time of the grant. (2) The expected volatility is a measure of the amount by which a stock price has fluctuated or is expected to fluctuate based primarily on our and our peers' historical data. (3) The expected life is the period of time, on average, that participants are expected to hold their options before exercise based primarily on our historical data. For the nine months ended September 30, 2016 intrinsic value of these options was $184 thousand In thousands, except weighted-average price and remaining contractual term Number of Shares Weighted-Average Exercise Price Weighted-Average Remaining Contractual Term Aggregate Intrinsic Value Options outstanding at December 31, 2015 1,205 $ 14.41 8.5 $ — Options granted 68 $ 6.32 9.4 $ 184 Options exercised — $ — Options cancelled or forfeited (116 ) $ 14.87 Options outstanding at September 30, 2016 1,157 $ 13.89 8.2 $ 184 Options expected to vest at September 30, 2016 752 $ 13.77 8.1 $ 157 Options exercisable at September 30, 2016 405 $ 14.11 8.4 $ 27 For the three and nine months ended September 30 , 2016 , we recognized $0.3 million and $0.9 million of stock compensation expense associated with these options, and there was $1.1 million of total unrecognized stock compensation cost related to unvested stock options that is expected to be recognized over a period of approximately 1.3 years. Restricted Stock Awards In the nine months ended September 30, 2016, we issued 101,352 restricted shares as incentive compensation for officers, directors, and certain key employees, 51,707 restricted shares were forfeited and 246,519 were settled leaving 357,341 remaining restricted shares outstanding as of September 30, 2016. The fair market value of outstanding restricted shares at September 30, 2016 was $3.2 In thousands, except weighted-average fair value price Number of Shares Weighted-Average Grant-Date Fair Value Unvested restricted shares outstanding at December 31, 2015 554 $ 14.48 Restricted shares granted 101 $ 6.16 Restricted shares vested (246 ) $ 11.85 Restricted shares forfeited (52 ) $ 15.95 Unvested restricted shares outstanding as of September 30, 2016 357 $ 13.72 For the three and nine months ending, September 30, 2016, we recognized $0.6 million and $2.3 million of stock compensation expense associated with these restricted shares, and there was $1.9 million of total unrecognized stock compensation cost related to unvested restricted stock to be recognized over a period of approximately 1.1 years. Restricted Stock Units During the nine months ended September 30, 2016, we issued 26,935 restricted stock units, 32,544 were forfeited, 50,783 vested, resulting in 112,776 restricted stock units outstanding as of September 30, 2016. The fair market value of these restricted share units at September 30, 2016 was $1.0 million. During the three and nine months ended September 30, 2016, we recognized $0.1 million and $0.5 million of stock compensation expense associated with these restricted stock units. Unrecognized stock compensation expense associated with RSUs is $0.7 million and will be recognized over the remaining contractual lives of these awards, approximately 1.7 In thousands, except weighted-average fair value price Number of Shares Weighted-Average Grant-Date Fair Value Unvested restricted stock units outstanding at December 31, 2015 169 $ 15.03 Restricted stock units granted 27 $ 7.67 Restricted stock units vested (51 ) $ 14.97 Restricted stock units forfeited (32 ) $ 14.23 Unvested restricted stock units outstanding as of September 30, 2016 113 $ 13.51

Fair Value Measurement of Finan

Fair Value Measurement of Financial Assets and Liabilities	9 Months Ended
	Sep. 30, 2016
Fair Value Disclosures [Abstract]
Fair Value Measurement of Financial Assets and Liabilities	11. Fair Value Measurement of Financial Assets and Liabilities With respect to the Company’s financial assets and liabilities, which include short term investments, notes payable, capital lease obligation, earnout obligations of acquisitions and warrant redemption liability, the Company has adopted current accounting guidance which establishes the authoritative definition of fair value, establishes a framework for measuring fair value, creates a fair value hierarchy based on the quality of inputs used to measure fair value and enhances disclosure requirements for fair value measurements. This guidance defines fair value as the price that would be paid to transfer the warrant redemption liability in an orderly transaction between market participants at the measurement date. As required under current accounting guidance, the Company has identified and disclosed its financial assets and liabilities in a fair value hierarchy, which consists of the following three levels: Definition Level 1 Observable unadjusted quoted prices in active markets for identical securities. Level 2 Observable inputs other than quoted prices in active markets for identical securities, (i) quoted prices in active markets for similar securities. (ii) quoted prices for identical or similar securities in markets that are not active. (iii) inputs other than quoted prices that are observable for the security (e.g., interest rates, yield curves observable at commonly quoted intervals, volatilities, prepayment speeds, credit risks and default rates). (iv) inputs derived from or corroborated by observable market data by correlation or other means. Level 3 Unobservable inputs, including the reporting entity’s own data, as long as there is no The Company’s equity and fixed income security investments and forward purchase assets for which carrying values were equal to fair values, classified by level within the fair value hierarchy, were as follows as of September 30, 2016 and December 31, 2015: Fair Value Measurement, Using September 30, 2016 (in thousands) Quoted Prices in Active Markets for Identical Securities (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Common and preferred stocks $ — $ — $ — $ — Corporate notes and bonds — — — — Forward purchase asset — — 57,511 57,511 Total $ — $ — $ 57,511 $ 57,511 Fair Value Measurement, Using December 31, 2015 (in thousands) Quoted Prices in Active Markets for Identical Securities (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Common and preferred stocks $ 384 $ — $ — $ 384 Corporate notes and bonds 2,789 — — 2,789 Forward purchase asset — — 28,120 28,120 Total $ 3,173 $ — $ 28,120 $ 31,293 The following is a reconciliation of the fair value of the Company’s financial assets that were measured using significant unobservable (Level 3) inputs: Nine Months Ended September 30, 2016 (in thousands) Forward Purchase Asset Total Fair value, January 1, 2016 $ 28,120 $ 28,120 Increase in fair value of forward purchase asset 29,391 29,391 Fair Value, September 30, 2016 $ 57,511 $ 57,511 The Company’s earnout obligations of acquisitions, deferred purchase consideration, and warrant redemption liability, for which carrying values were equal to fair values, classified by level within the fair value hierarchy, were as follows as of September 30, 2016 and December 31, 2015: Fair Value Measurement, Using September 30, 2016 (in thousands) Quoted Prices in Active Markets for Identical Securities (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Earnout payable on acquisitions $ — $ — $ 11,686 $ 11,686 Deferred purchase consideration — — — — Warrant redemption liability — — 57,511 57,511 Total $ — $ — $ 69,197 $ 69,197 Fair Value Measurement, Using December 31, 2015 (in thousands) Quoted Prices in Active Markets for Identical Securities (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Earnout payable on acquisitions $ — $ — $ 12,383 $ 12,383 Deferred purchase consideration — — 6,128 6,128 Warrant redemption liability — — 28,120 28,120 Total $ — $ — $ 46,631 $ 46,631 The following is a reconciliation of the fair value of the Company’s financial liabilities that were measured using significant unobservable (Level 3) inputs: Nine Months Ended September 30, 2016 (in thousands) Earnout Payable Deferred Purchase Consideration Warrant Redemption Liability Total Fair value, January 1, 2016 $ 12,383 $ 6,128 $ 28,120 $ 46,631 Record present value earnout payable on acquisitions 7,750 — — 7,750 Earnout payments made (6,529 ) — — (6,529 ) Decrease in fair value of earn-out liability (1,913 ) — — (1,913 ) Adjust fair value of earn-out for obligation of seller (5 ) — — (5 ) Deferred purchase payments made — (4,850 ) — (4,850 ) Equity issued for deferred purchase consideration — (563 ) — (563 ) Acquisition adjustment to purchase price — (759 ) — (759 ) Amortize present value discount on deferred purchase consideration — 44 — 44 Increase in fair value of warrant redemption liability — — 29,391 29,391 Fair Value, September 30, 2016 $ 11,686 $ — $ 57,511 $ 69,197

Related Party Transactions

Related Party Transactions	9 Months Ended
	Sep. 30, 2016
Related Party Transactions [Abstract]
Related Party Transactions	12. Related Party Transactions Relationship and Transactions with Guarantee Insurance Group and Guarantee Insurance As of November 14, 2016 Steven M. Mariano, our founder, Chief Executive Officer and Chairman, beneficially owned 54.5% of the outstanding shares of our common stock and substantially all of the outstanding equity of Guarantee Insurance Group. As a result, our transactions with Guarantee Insurance Group and its subsidiaries, including Guarantee Insurance and GUI, are related party transactions. Service Fees Received from Guarantee Insurance We provide brokerage and policyholder services and claims administration services to Guarantee Insurance pursuant to the Services Agreements and the Program Administrator Agreement. We have been providing a full range of brokerage and policyholder services to Guarantee Insurance pursuant to the Program Administrator Agreement since August 6, 2014. Pursuant to the Services Agreements, we provide our services in connection with claims arising out of insurance policies held or underwritten by Guarantee Insurance. The Services Agreements have various terms and expiration dates ranging from 2018 to 2022, unless otherwise extended or earlier terminated as provided therein. The fees we receive are based, depending on the service provided, upon a percentage of reference premium, flat monthly fees, hourly fees or the savings we achieve, among others. Pursuant to Program Administrator Agreement, we act as Guarantee Insurance’s exclusive general agent for the purpose of underwriting, issuing and delivering insurance contracts in connection with Guarantee Insurance’s workers’ compensation insurance program. The agreement with Guarantee Insurance remains in effect until terminated by either party upon 180 days’ prior written notice to the other party for cause. Guarantee Insurance may also terminate the agreement, in whole or in part, immediately upon written notice to us in the event of our insolvency or bankruptcy, systematic risk-binding that is not in compliance with the applicable underwriting guidelines or procedures and the occurrence of certain other events. The fees we receive are based upon premiums written for each account bound with Guarantee Insurance. A portion of the fees that we receive from Guarantee Insurance pursuant to the Services Agreements and the Program Administrator Agreement are for Guarantee Insurance’s account (which we recognize as “fee income from related party”) and a portion of the fees are for the account of reinsurance captive entities to which Guarantee Insurance has ceded a portion of its written risk (which we recognize as “fee income”). See “Management’s Discussion and Analysis of Financial Conditions and Results of Operations—Principal Components of Financial Statements—Revenue.” As a result, a substantial portion of fee income we recognize from non-related parties is nevertheless derived from our relationship with Guarantee Insurance. Fee income from related party for the three months ended September 30, 2016 and 2015 was $22.3 million and $23.8 million, respectively, and constituted 37% and 41% of total fee income. Fee income derived from our contracts and relationships with Guarantee Insurance for the three months ended September 30, 2016 and 2015 was $36.4 million and $38.5 million respectively, and constituted 61% and 66% of total fee income and fee income from related party for the three months then ended. Fee income from related party for the nine months ended September 30, 2016 and 2015 was $62.7 million and $68.9 million, respectively, and constituted 35% and 46% of total fee income and fee income from related party for the nine months then ended. Fee income derived from our contracts and relationships with Guarantee Insurance for the nine months ended September 30, 2016 and 2015 was $107.8 million and $107.2 million respectively, and constituted 59% and 72% of total fee income and fee income from related party for the nine months then ended. Fee income receivable from related party was $35.3 million as of September 30, 2016 and $27.0 million as of December 31, 2015. Our prices by customer for our brokerage and policyholder services and claims administration services were unchanged for the three and nine month periods ended September 30, 2016 and 2015, and, accordingly, the net increase in fee income was solely related to changes in the volume of business we managed. Because fee income from related party for claims administration services is based on the net portion of claims expense retained by Guarantee Insurance, as described in Note 13, Concentration During the nine months ended September 30, 2016, Patriot completed and amended agreements between its operating subsidiaries and Guarantee Insurance Company in the normal course of business. These include an agreement and subsequent amendments to the agreement effective January 1, 2016 between Guarantee and Patriot Underwriters regarding rates for agent commission. Additionally, Patriot National, Inc. executed an agreement on January 15, 2016 with Guarantee Insurance Group for legal advisory services, for which Patriot received fees of $0.8 million. Additionally, effective July 1, 2016, Guarantee and Patriot Risk Services have amended the Claims Servicing Agreement removing fees allocated to claims services post twenty-four months of age. Loan Arrangements and Receivable from Affiliates As of September 30, 2016, we had a net receivable from related parties of $2.7 million due from entities controlled by Mr. Mariano, our founder, Chairman, President and Chief Executive Officer. As of December 31, 2015, we had a net receivable from related parties amount of approximately $0.5 million due from entities controlled by Mr. Mariano. This amount reflects an obligation for attorney’s fees incurred by the Company related to ongoing litigation under the Amended and Restated Stock Back-To-Back Agreement, by and between the Company and Steven M. Mariano, our President, Chairman and CEO. Mr. Mariano has agreed to indemnify the Company for these fees. We expect this obligation to be satisfied upon resolution of the litigation. In addition, on December 23, 2015, we and Steven M. Mariano amended the Stock Back-to-Back Agreement, pursuant to which, upon the exercise of the New Warrants, we would purchase a number of shares of our common stock owned by Steven M. Mariano equal to 100% of the shares to be issued in connection with the exercise by the PIPE investors of the New Warrants. See Item 7, “Management’s Discussion and Analysis of Financial Conditions and Results of Operations—Recent Events.” Statement of Policy Regarding Transactions with Related Persons Our board of directors has adopted a written Related Person Transaction Policy to assist it in reviewing, approving and ratifying transactions with related persons and to assist us in the preparation of related disclosures required by the SEC. This Related Person Transaction Policy supplements our other policies that may apply to transactions with related persons, such as the Corporate Governance Guidelines of our board of directors and our Code of Business Conduct and Ethics. The Related Person Transaction Policy provides that all transactions with related persons covered by the policy must be reviewed and approved and ratified by the Audit Committee or disinterested members of the board of directors and that any employment relationship or transaction involving an executive officer and any related compensation must be approved or recommended for the approval of the board of directors by the Compensation Committee. In reviewing transactions with related persons, the Audit Committee or disinterested members of the board of directors will consider all relevant facts and circumstances, including, without limitation: • the nature of the related person’s interest in the transaction; • the material terms of the transaction; • the importance of the transaction both to the Company and to the related person; • whether the transaction would likely impair the judgment of a director or executive officer to act in the best interest of the Company; • whether the value and the terms of the transaction are substantially similar as compared to those of similar transactions previously entered into by the Company with non-related persons, if any; and • any other matters that management or the Audit Committee or disinterested directors, as applicable, deem appropriate. The Audit Committee or disinterested members of the board of directors, as applicable, will not approve or ratify any related person transaction unless it shall have determined in good faith that, upon consideration of all relevant information, the related person transaction is in, or is not inconsistent with, the best interests of the Company. The Audit Committee or the disinterested members of the board of directors, as applicable, may also conclude, upon review of all relevant information, that the transaction does not constitute a related person transaction and thus that no further review is required under this policy. Generally, the Related Person Transaction Policy applies to any current or proposed transaction in which: • the Company was or is to be a participant; • the amount involved exceeds $120,000; and any related person (i.e., a director, director nominee, executive officer, greater than 5% beneficial owner and any immediate family member of such person) had or will have a direct or indirect material interest.

Concentration

Concentration	9 Months Ended
	Sep. 30, 2016
Risks And Uncertainties [Abstract]
Concentration	13. Concentration For the nine months ended September 30, 2016, approximately 59% of total combined fee income and fee income from related party was attributable to contracts with Guarantee Insurance, the Company’s largest customer and a related party, and approximately 6% was attributable to contracts with the Company’s second largest customer. For the nine months ended September 30, 2015, approximately 72% of total combined fee income and fee income from related revenues was attributable to contracts with Guarantee Insurance, and approximately 8% were attributable to contracts with the Company’s second largest customer. As of September 30, 2016, approximately 79% of combined fee income receivable and fee income receivable from related party was attributable to contracts with Guarantee Insurance and approximately 1% of combined fee income receivable and fee income receivable from related party were attributable to contracts with the Company’s second largest customer. As of December 31, 2015, approximately 77% of combined fee income receivable and fee income receivable from related party was attributable to contracts with Guarantee Insurance and approximately 3% of combined fee income receivable and fee income receivable from related party was attributable to contracts with the Company’s second largest customer. Because fee income from related party for claims administration services is based on the net portion of claims expense retained by Guarantee Insurance, the Company’s revenues attributable to contracts with Guarantee Insurance do not necessarily represent fee income from related party.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2016
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	14. Commitments and Contingencies Contractual Obligations and Commitments In connection with the Senior Secured Credit Facility as described in Note 7, Notes Payable and Lines of Credit On April 13, 2016, Hudson Bay Master Fund Ltd. (“Hudson Bay”) filed suit in the US District Court for the Southern District of New York against the Company, Steven M. Mariano, our Chairman and Chief Executive Officer, and American Stock Transfer Company, LLC as a nominal Defendant. Hudson Bay alleges that the Company and Mr. Mariano are in breach of various contracts regarding delivery of price adjustment warrants, and that Mr. Mariano interfered with those same contracts between the Company and Hudson Bay. Hudson Bay seeks specific performance of the contracts, monetary damages, and attorney’s fees. On April 14, 2016, CVI Investments Inc.(“CVI”), also filed suit against the Company in the same court. The CVI suit makes similar allegations of breach of contract regarding the price adjustment warrants. The CVI suit similarly seeks specific performance of the contracts, monetary damages, and attorney’s fees, as well as injunctive relief. The Company has filed answers in both actions denying the allegations and asserting defenses. The Company has been indemnified for any losses related to the warrant agreements by Mr. Mariano. Off-Balance Sheet Arrangements We have no off-balance sheet arrangements that have, or are reasonably likely to have, a current or future effect on our financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures, or capital resources. The Company has employment agreements with certain executives and other employees, which provide for compensation and certain other benefits and for severance payments under certain circumstances. The employment agreements contain clauses that become effective upon a change of control of the Company. Upon the occurrence of any of the defined events in the employment agreements, the Company would be obligated to pay certain amounts to the relevant employees. The Company maintains cash at various financial institutions, and, at times, balances may exceed federally insured limits. Management does not believe this results in any material effect on the Company’s financial position or results of operations. In the normal course of business, the Company may be party to various legal actions that management believes will not result in any material effect on the Company’s financial position or results of operations.

Warrant Redemption Liability

Warrant Redemption Liability	9 Months Ended
	Sep. 30, 2016
Warrants And Rights Note Disclosure [Abstract]
Warrant Redemption Liability	15. Warrant Redemption Liability The estimated fair value of the redeemable warrants is reflected as warrant redemption liability in the accompanying consolidated balance sheets as of September 30, 2016 and December 31, 2015, and the change in the liability is reflected as an increase (decrease) in fair value of warrant redemption liability in the accompanying consolidated statements of operations. In estimating the value of the redeemable warrants and common stock, giving consideration to all valuation approaches and methods in its analysis and ultimately relying on a variety of established appraisal methods and techniques, applying a Monte Carlo simulation of estimated value, the guideline public company method in combination with the discounted future returns method and, as appropriate, the option pricing model using Black Scholes. Various valuation indications are weighted using the Probability-Weighted Expected Return Method (PWERM) in accordance with the AICPA’s Accounting and Valuation Guide: Valuation of Privately-Held-Company Equity Securities Issued as Compensation As of September 30, 2016, the estimated fair value of Series A and Series B warrant redemption liabilities was $57.5 million. We estimated the fair value of New Series A Warrants as of September 30, 2016. The payoff structure of New Series A Warrants can be replicated by purchasing (i) 0.15 units of Common Stock and (ii) 0.85 units of call option on Common Stock at an adjusted strike price (dollar strike price divided by 85%). The value of call option was estimated using Black Scholes. The estimated fair value of the New Series B Warrants was determined as the closing share price at September 30, 2016 less the exercise price of $0.01. On December 13, 2015 we entered into a securities purchase agreement (the “Securities Purchase Agreement”) with Steven M. Mariano, our President and Chief Executive Officer, and the PIPE investors pursuant to which the PIPE investors purchased (i) 2,500,000 shares of our common stock from Steven M. Mariano, for an aggregate purchase price of approximately $30 million, and (ii) 666,666 shares of our common stock, warrants to purchase up to an aggregate of 2,083,333 shares of our common stock (the “Old Series A Warrants”) and prepaid warrants for 1,000,000 shares of our common stock (the “Old Series B Warrants” and, together with the Old Series A Warrants, the “Old Warrants”), for an aggregate purchase price of approximately $20 million. In addition, we entered into an agreement (the “Stock Back-to-Back Agreement”) with Steven M. Mariano, pursuant to which, upon the exercise of the Old Warrants, we would purchase a number of shares of our common stock owned by Steven M. Mariano equal to 60% of the shares to be issued in connection with the exercise by the PIPE investors of the Old Warrants. On December 23, 2015 we entered into several rescission and exchange agreements (collectively, the “Exchange Agreement”) with Steven M. Mariano and the PIPE investors pursuant to which (i) we and the PIPE investors rescinded the sale and purchase of 666,666 shares of our common stock and prepaid warrants for 1,000,000 shares of our common stock and (ii) we exchanged the Old Series A Warrant for new warrants to purchase up to an aggregate of 3,250,000 shares of our common stock (the “New Series A Warrants”), and the Old Series B Warrant for new prepaid warrants to purchase a number of shares that the holder could purchase at a price equal to 90% of the lowest 10-day volume-weighted average stock price during the period commencing on February 1, 2016 through and including the Adjustment Time (as defined in the New Series B Warrants, which we expect to end at 9:00 A.M. on the tenth trading day after the filing of this Annual Report on Form 10-K) less the number of shares such holder purchased, in each case subject to adjustments and limitations pursuant to their terms. Based on the 10-day volume-weighted average stock price during the period commencing on February 1, 2016 through March 17, 2016 of $4.51, we estimate that 4,889,165 shares of our common stock would be issuable upon exercise of the New Series B Warrants. In addition, we and Steven M. Mariano amended the Stock Back-to-Back Agreement, pursuant to which, upon the exercise of the New Warrants, we would purchase a number of shares of our common stock owned by Steven M. Mariano equal to 100% of the shares to be issued in connection with the exercise by the PIPE investors of the New Warrants, resulting in no dilution for our existing shareholders. The New Series A Warrants are exercisable at an exercise price of the lesser of (i) $10.00 and (ii) 85% of the market price of the shares (as defined in the New Warrants), from July 1, 2016 to December 31, 2020. The New Series B Warrants are exercisable at an exercise price of $0.01 from December 16, 2015 to December 31, 2020. The exercise price of the New Warrants is subject to adjustment in the case of stock splits, stock dividends, combinations of shares and similar recapitalization transactions. In addition, On

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2016
Income Tax Disclosure [Abstract]
Income Taxes	16. Income Taxes The Company uses an estimated annual effective tax rate method of computing its interim tax provision. Certain items, including those deemed to be unusual, infrequent or that cannot be reliably estimated, are excluded from the estimated annual effective tax rates. In these cases, the actual tax expense or benefit applicable to that item is treated discretely and is reported in the same period as the related item. The effective tax rate is based on forecasted annual pre-tax income, permanent differences and statutory tax rates. For the nine months ended September 30, 2016, the effective income tax rate was 36%. The Company and its subsidiaries are subject to U.S. federal income tax, as well as income tax in multiple states with heavy concentration in Florida, California, and Pennsylvania. The net deferred tax asset as of September 30, 2016 was $13.6 million, which is primarily related to intangible asset amortization of completed acquisitions. As of December 31, 2015, the Company maintained a valuation allowance for the net deferred tax asset. A valuation allowance is required when it is considered more likely than not that all or part of the benefit related to such assets will not be realized, considering both positive and negative evidence. We determined as of December 31, 2015 that it was more likely than not that all or part of the benefit related to such assets would not be realized, primarily due to uncertainty of future performance for acquired businesses in our projections. The underlying assumptions we use in forecasting future taxable income require significant judgment and take into account our recent performance. Such estimates and assumptions could change in the future as more information becomes known which could impact the amounts reported and disclosed herein. The ultimate realization of deferred tax assets depends on the generation of future taxable income during the periods in which temporary differences reverse. Effective June 30, 2016, the Company and its subsidiaries released the $12.5 million valuation allowance related to the net deferred tax asset as a result of positive evidence from performance during the six months then ended and greater certainty of forecasts for 2016 and beyond. We determined that it was more likely than not the future tax benefit related to the deferred tax asset will be realized as of June 30, 2016, and confirmed that assessment as of September 30, 2016. At September 30, 2016 and December 31, 2015, the Company had no unrecognized tax benefits and no amounts recorded for uncertain tax positions.

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2016
Subsequent Events [Abstract]
Subsequent Events	17. Subsequent Events On November 8, 2016 we announced that the Special Committee of its Board of Directors (the "Special Committee") has concluded that Ebix, Inc.'s most recent proposal of $475 million is not the best alternative to maximize value for Patriot National's shareholders and, at the recommendation of the Special Committee, the Board of Directors has rejected the proposal. The Special Committee continues to evaluate other more attractive offers and all opportunities for value creation. On November 9, 2016, Patriot National, Inc. (the “Company”) entered into the Financing Agreement (the “Credit Agreement”), by and among the Company, Cerberus Business Finance, LLC, as collateral agent and as administrative agent ("Agent"), and the other lenders party thereto, which provides for a $30.0 million revolving credit facility and a $250.0 million term loan facility (the “senior secured credit facility”). The senior secured credit facility has a maturity of five years, and borrowings thereunder bear interest, at the Company’s option, at LIBOR plus a margin ranging from 700 basis points to 725 basis points or at a base rate plus a margin ranging from 525 basis points to 550 basis points. The minimum LIBOR rate before applicable margin is 1.00%, while the minimum base rate before applicable margin is 3.00%. Effective with the closing of the Financing Agreement on November 9, 2016, the existing BMO credit facility was repaid in full and any remaining commitments terminated thereunder. In addition to paying interest on outstanding principal under the senior secured credit facility, the Company is required to pay a commitment fee to the administrative agent for the ratable benefit of the lenders under the revolving credit facility in respect of the unutilized commitments thereunder of 50 basis points. In addition, the Company is required to pay Agent a loan servicing fee of $5,000 per month. The Company paid Agent, for the account of the lenders, a closing fee equal to $5,600,000. The term loan facility amortizes quarterly beginning on December 31, 2016 with quarterly payments of $1,250,000 in the first year, quarterly payments of $2,000,000 in the second year and quarterly payments of $2,500,000 thereafter, with the remainder due at maturity. Principal amounts outstanding under the revolving credit facility are due and payable in full at maturity. In the event of any sale or other disposition by the Company or its subsidiaries guaranteeing the senior secured credit facility of any assets or their incurrence of additional indebtedness, the Company is required to prepay the net proceeds received from such a sale towards the remaining scheduled payments of the term loan facility, subject to certain exceptions. All obligations under the senior secured credit facility are guaranteed by all of the Company’s existing and future subsidiaries, other than foreign subsidiaries, and secured by a first-priority perfected security interest in substantially all of the Company’s and such guaranteeing subsidiaries’ tangible and intangible assets, whether now owned or hereafter acquired, including a pledge of 100% of the stock of each guarantor. The senior secured credit facility contains certain covenants that, among other things and subject to significant exceptions, limit the Company’s ability and the ability of the Company’s restricted subsidiaries to engage in certain business and financing activities and that require the Company to maintain certain financial covenants, including requirements to maintain (i) a maximum total leverage ratio of total outstanding debt to adjusted EBITDA for the most recently-ended four fiscal quarters of no more than 5.25:1.00 and (ii) a minimum fixed charge coverage ratio of (a)(1) adjusted EBITDA less (2) unfinanced capital expenditures, to (b) the sum of (1) scheduled principal payments of debt (which amount has been agreed upon for the three, six and nine month periods ending March 31, 2016, June 30, 2016 and September 30, 2016), (2) cash interest expense (which amount has been agreed upon for the three, six and nine month periods ending March 31, 2016, June 30, 2016 and September 30, 2016), (3) income tax expense (which amount has been agreed upon for the three, six and nine month periods ending March 31, 2016, June 30, 2016 and September 30, 2016) and (4) dividends, share repurchases and other restricted payments for the same period of a least 1.25:1.00 for the most recently-ended four quarters. The senior secured credit facility contains other restrictive covenants, including those regarding indebtedness (including capital leases) and guarantees; liens; investments and acquisitions; loans and advances; mergers, consolidations and other fundamental changes; sales of assets; transactions with affiliates; no material changes in nature of business; dividends and distributions, stock repurchases, and other restricted payments; change in name, jurisdiction of organization or fiscal year and other agreements prohibiting liens. The senior secured credit facility has events of default that may result in acceleration of the borrowings thereunder, including (i) nonpayment of principal, interest, fees or other amounts (subject to customary grace periods for items other than principal); (ii) failure to perform or observe covenants set forth in the loan documentation (subject to customary grace periods for certain affirmative covenants); (iii) any representation or warranty proving to have been incorrect in any material respect when made; (iv) cross-default to other indebtedness and contingent obligations in an aggregate amount in excess of an agreed upon amount; (v) bankruptcy and insolvency defaults (with grace period for involuntary proceedings); (vi) inability to pay debts; (vii) monetary judgment defaults in excess of an agreed upon amount; (viii) ERISA defaults; (ix) change of control; (x) actual invalidity or unenforceability of any loan document as a result of an act or omission of the Company or its subsidiaries or actual invalidity or unenforceability of any security interest on any collateral; (xi) the Company or its subsidiaries asserts that any loan document, including any guaranty, is invalid or unenforceable; and (xii) material unpaid, final judgments that have not been vacated, discharged, stayed or bonded pending appeal within a specified number of days after the entry thereof. Special Dividend On November 9, 2016, the Board of Directors (the “Board”) approved a special dividend of $2.50 per share of Company common stock, payable December 9, 2016, to shareholders of record at the close of business on November 28, 2016. Stock Repurchase Program On November 9, 2016, the Board also authorized up to $40 million of stock repurchases through November 9, 2018 under the Company’s previously announced $15 million stock repurchase program (the “Repurchase Program”). This authorization represents an increase of $34 million for stock repurchases in addition to the approximately $6 million remaining under the previously authorized program. Pursuant to the terms of the Repurchase Program, the Company may purchase no more than 1,000,000 shares in any calendar month. The Company may otherwise repurchase its common stock from time to time, in amounts and at prices the Company deems appropriate, subject to market conditions and other considerations. The Company’s repurchases may be executed using open market purchases or negotiated off-market transactions.

Description of Business and B26

Description of Business and Basis of Presentation (Policies)	9 Months Ended
	Sep. 30, 2016
Accounting Policies [Abstract]
Description of Business	Description of Business Patriot National, Inc. (“Patriot National” or the “Company”) is an independent national provider of comprehensive technology-enabled outsourcing solutions that help insurance carriers, employers and other clients mitigate risk, comply with complex regulations, and save time and money. We offer end-to-end insurance related and specialty services that allow our clients to improve efficiencies and reduce expenses through our value-added processes. The core of our value proposition includes the benefit of a “one-stop” solution with our broad array of offered services, scalable state-of-the-art technology, and support for complex business and regulatory processes. We principally offer two types of services: front-end services, such as brokerage, underwriting and policyholder services, and back-end services, such as claims adjudication and administration. We provide our services either on an individual basis, as bundles of two or more services tailored to a client’s specific needs or on a turnkey basis where we provide a comprehensive set of front-end and back-end services to a client. We also offer specialty services currently including technology outsourcing and other IT services, as well as employment pre-screening and background checks. As a service company, we do not assume any underwriting or insurance risk. Our revenue is primarily fee-based, most of which is contractually committed or highly recurring. Patriot National is headquartered in Ft. Lauderdale, Florida.
Basis of Presentation	Basis of Presentation The accompanying unaudited consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (GAAP) and pursuant to the rules and regulations of the Securities and Exchange Commission. Certain information and footnote disclosures normally included in annual financial statements have been omitted pursuant to such rules and regulations. Included for comparative purposes are our consolidated financial statements for the nine month period ended September 30, 2015. The unaudited consolidated financial statements included herein are, in the opinion of management, prepared on a basis consistent with our audited consolidated financial statements for the year ended December 31, 2015 and include all normal recurring adjustments necessary for a fair presentation of the information set forth. The quarterly results of operations are not necessarily indicative of the results of operations to be reported for subsequent quarters or the full year. These unaudited consolidated financial statements should be read in conjunction with the audited consolidated financial statements and the notes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2015. In the preparation of our unaudited consolidated financial statements as of September 30, 2016, management evaluated all material subsequent events or transactions that occurred after the balance sheet date through the date on which the financial statements were issued for potential recognition or disclosure therein. For the Company’s two consolidated subsidiaries, Contego Services Group, LLC (“Contego Services Group”) that is 97% owned, and DecisionUR, LLC (“DecisionUR”) that is 98.8% owned, the third party equity interests are referred to as non-controlling interests. The portion of the third party members’ equity (deficit) of Contego Services Group and DecisionUR are presented as non-controlling interests in the accompanying consolidated balance sheets as of September 30, 2016 and consolidated balance sheet as of December 31, 2015. The Company discloses the following three measures of net income (loss): (i) net income (loss), including non-controlling interest in subsidiary, (ii) net income (loss) attributable to non-controlling interest in subsidiary, and (iii) net income (loss).

Business Combinations (Tables)

Business Combinations (Tables)	9 Months Ended
	Sep. 30, 2016
Business Combinations [Abstract]
Summary of Purchase Prices of Businesses Acquired	The total purchase price was comprised of the following consideration (in thousands): Name and Effective Date of Acquisition (In thousands): Cash Paid Stock Issued Accrued Liability Recorded Earnout Payable Maximum Potential Earnout Payable Total Recorded Purchase Price Mid Atlantic Insurance Services, Inc (January 28, 2016) $ 7,901 $ — $ 926 $ 7,750 $ 8,500 $ 15,651
Preliminary Estimated Fair Value of the Net Assets Acquired	The following is a summary of the aggregate estimated fair values of the net assets acquired at the date of the acquisition made during the nine months ended September 30, 2016: In thousands Total Assets Acquired: Cash $ 28 Restricted cash — Accounts receivable 1,481 Fixed assets 50 Other assets — Goodwill 4,893 Intangible assets: Customer & carrier relationships 9,205 Service contracts — Non-compete agreements 120 Developed technology — Trade name portfolio 800 Total intangible assets 10,125 Total assets acquired 16,577 Liabilities assumed 926 Total net assets acquired $ 15,651
Summary of Unaudited Pro Forma Historical Results	The following is a summary of the unaudited pro forma historical results, as if the entities acquired in 2015 and 2016 had been acquired at January 1, 2015 (in thousands, except per share data): Nine Months Ended September 30, In thousands (except per share data) 2016 2015 Total revenues 181,834 178,998 Net income (loss) 19,438 1,541 Basic net income (loss) per share $ 0.65 $ 0.06 Diluted net income (loss) per share $ 0.64 $ 0.06

Fixed Assets And Other Long T28

Fixed Assets And Other Long Term Assets(Tables)	9 Months Ended
	Sep. 30, 2016
Fixed Assets And Other Long Term Assets [Abstract]
Major Classes of Fixed Assets	As of September 30, 2016 and December 31, 2015, our major classes of fixed assets consisted of the following: In thousands September 30, 2016 December 31, 2015 (Unaudited) Fixed Assets Computer equipment, software and furniture and fixtures $ 9,384 $ 8,124 Building 1,428 1,428 Leasehold improvements 3,822 3,733 Total fixed assets 14,634 13,285 Less accumulated depreciation and amortization (9,323 ) (8,193 ) Fixed assets, net of accumulated depreciation and amortization $ 5,311 $ 5,092
Other Long Term Assets	As of September 30, 2016 and December 31, 2015, other long term assets consisted of the following: In thousands September 30, 2016 December 31, 2015 (Unaudited) Other long term assets Capitalized policy and claims administration system development costs $ 19,982 $ 17,712 Less accumulated depreciation (8,829 ) (6,284 ) Other long term assets, net of accumulated depreciation $ 11,153 $ 11,428

Goodwill and Other Intangible29

Goodwill and Other Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 2016
Goodwill And Intangible Assets Disclosure [Abstract]
Summary of Changes in Goodwill	Changes in goodwill are summarized as follows: In thousands Balance as of December 31, 2015 $ 118,141 Goodwill acquired 4,893 Acquisition adjustments (1,351 ) Balance as of September 30, 2016 $ 121,683
Schedule of Intangible Assets Including Original Fair Values and Net Book Values	The intangible assets, their original fair values, and their net book values are detailed below as of the dates presented: September 30, 2016 December 31, 2015 In thousands Gross Asset Accumulated Amortization Net Asset Gross Asset Accumulated Amortization Net Asset (Unaudited) Intangible Assets Service contracts $ 35,120 $ (9,501 ) $ 25,619 $ 35,120 $ (6,204 ) $ 28,916 Customer and carrier relationships 40,243 (4,899 ) 35,344 31,039 (1,947 ) 29,092 Non-compete agreements 4,860 (3,326 ) 1,534 4,739 (1,505 ) 3,234 Developed technology 13,268 (3,636 ) 9,632 13,268 (1,647 ) 11,621 Trade names 3,829 (614 ) 3,215 3,029 (211 ) 2,818 Total $ 97,320 $ (21,976 ) $ 75,344 $ 87,195 $ (11,514 ) $ 75,681
Schedule of Estimated Future Amortization Expense of Intangible Assets	The table below reflects the estimated amortization expense for the Company’s intangible assets for each of the next five years and thereafter: In thousands September 30, 2016 Amortization expense (Unaudited) 2016 (remaining three months) $ 3,515 2017 12,554 2018 11,629 2019 11,629 2020 9,984 Thereafter 26,033 Total $ 75,344

Notes Payable and Lines of Cr30

Notes Payable and Lines of Credit (Tables)	9 Months Ended
	Sep. 30, 2016
Debt Disclosure [Abstract]
Notes Payable	As of September 30, 2016 and December 31, 2015, notes payable were comprised of the following: In thousands September 30, 2016 December 31, 2015 (Unaudited) BMO Senior Secured Term Loans $ 102,375 $ 106,500 Less current portion of notes payable (6,875 ) (5,500 ) Less deferred loan fees (2,063 ) (2,352 ) Notes Payable $ 93,437 $ 98,648

Capital Lease Obligations (Tabl

Capital Lease Obligations (Tables)	9 Months Ended
	Sep. 30, 2016
Capital Lease Obligations
Debt Instrument [Line Items]
Schedule of Future Payments on Capital Lease Obligations Based on Interest Rate Swap Rate	The Company’s obligations for future payments on the capital lease as of September 30, 2016, based on the interest rate swap rate in effect on that date, are as follows: In thousands Principal Interest Total 2016 414 2 416

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2016
Earnings Per Share [Abstract]
Components of Basic and Diluted EPS	The components of basic and diluted EPS are as follows: Three Months Ended September 30, Nine Months Ended September 30, In thousands (except earnings per share) 2016 2015 2016 2015 Basic net earnings (loss) per share Net income (loss) available to common shareholders $ 1,876 $ 3,788 $ 19,436 $ (8 ) Weighted average number of common shares outstanding 31,316 26,802 29,881 26,006 Basic net earnings (loss) per share $ 0.06 $ 0.14 $ 0.65 $ (0.00 ) Diluted net earnings (loss) per share Net income (loss) available to common shareholders $ 1,876 $ 3,788 $ 19,436 $ (8 ) Adjustments to net income (loss) applicable to dilutive shares — — — — Net earnings (loss) attributable to diluted shares $ 1,876 $ 3,788 $ 19,436 $ (8 ) Weighted average number of common shares outstanding 31,316 26,802 29,881 26,006 Dilutive effect of warrants, options, and restricted shares using the treasury stock method 789 1,138 685 — Weighted average number of common and common equivalent shares outstanding 32,105 27,940 30,566 26,006 Diluted net earnings (loss) per share $ 0.06 $ 0.14 $ 0.64 $ (0.00 )

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	9 Months Ended
	Sep. 30, 2016
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Schedule of Significant Assumptions Used in Black-Scholes Model to Estimate Fair Value of Stock Options	The fair values of these stock options were estimated using the Black-Scholes valuation model with the following weighted-average assumptions: Nine Months Ended September 30, In thousands 2016 2015 Expected dividend yield 0 % 0 % Risk-free interest rate (1) 0.49 % 0.49 % Expected volatility (2) 33.02 % 33.02 % Expected life in years (3) 3.0 3.0 (1) The risk-free interest rate for the periods within the contractual term of the options is based on the U.S. Treasury yield curve in effect at the time of the grant. (2) The expected volatility is a measure of the amount by which a stock price has fluctuated or is expected to fluctuate based primarily on our and our peers' historical data. (3) The expected life is the period of time, on average, that participants are expected to hold their options before exercise based primarily on our historical data.
Summary of Stock Options Activity	For the nine months ended September 30, 2016 intrinsic value of these options was $184 thousand In thousands, except weighted-average price and remaining contractual term Number of Shares Weighted-Average Exercise Price Weighted-Average Remaining Contractual Term Aggregate Intrinsic Value Options outstanding at December 31, 2015 1,205 $ 14.41 8.5 $ — Options granted 68 $ 6.32 9.4 $ 184 Options exercised — $ — Options cancelled or forfeited (116 ) $ 14.87 Options outstanding at September 30, 2016 1,157 $ 13.89 8.2 $ 184 Options expected to vest at September 30, 2016 752 $ 13.77 8.1 $ 157 Options exercisable at September 30, 2016 405 $ 14.11 8.4 $ 27
Summary of Grants of Restricted Shares	Grants of restricted shares for the nine months ended September 30, 2016 were as follows: In thousands, except weighted-average fair value price Number of Shares Weighted-Average Grant-Date Fair Value Unvested restricted shares outstanding at December 31, 2015 554 $ 14.48 Restricted shares granted 101 $ 6.16 Restricted shares vested (246 ) $ 11.85 Restricted shares forfeited (52 ) $ 15.95 Unvested restricted shares outstanding as of September 30, 2016 357 $ 13.72
Restricted Stock Unit
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Summary of Grants of Restricted Shares	In thousands, except weighted-average fair value price Number of Shares Weighted-Average Grant-Date Fair Value Unvested restricted stock units outstanding at December 31, 2015 169 $ 15.03 Restricted stock units granted 27 $ 7.67 Restricted stock units vested (51 ) $ 14.97 Restricted stock units forfeited (32 ) $ 14.23 Unvested restricted stock units outstanding as of September 30, 2016 113 $ 13.51

Fair Value Measurement of Fin34

Fair Value Measurement of Financial Assets and Liabilities (Tables)	9 Months Ended
	Sep. 30, 2016
Fair Value Disclosures [Abstract]
Summary of Fair Value Measurement of Equity and fixed Income Security Investments	The Company’s equity and fixed income security investments and forward purchase assets for which carrying values were equal to fair values, classified by level within the fair value hierarchy, were as follows as of September 30, 2016 and December 31, 2015: Fair Value Measurement, Using September 30, 2016 (in thousands) Quoted Prices in Active Markets for Identical Securities (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Common and preferred stocks $ — $ — $ — $ — Corporate notes and bonds — — — — Forward purchase asset — — 57,511 57,511 Total $ — $ — $ 57,511 $ 57,511 Fair Value Measurement, Using December 31, 2015 (in thousands) Quoted Prices in Active Markets for Identical Securities (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Common and preferred stocks $ 384 $ — $ — $ 384 Corporate notes and bonds 2,789 — — 2,789 Forward purchase asset — — 28,120 28,120 Total $ 3,173 $ — $ 28,120 $ 31,293 The Company’s earnout obligations of acquisitions, deferred purchase consideration, and warrant redemption liability, for which carrying values were equal to fair values, classified by level within the fair value hierarchy, were as follows as of September 30, 2016 and December 31, 2015: Fair Value Measurement, Using September 30, 2016 (in thousands) Quoted Prices in Active Markets for Identical Securities (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Earnout payable on acquisitions $ — $ — $ 11,686 $ 11,686 Deferred purchase consideration — — — — Warrant redemption liability — — 57,511 57,511 Total $ — $ — $ 69,197 $ 69,197 Fair Value Measurement, Using December 31, 2015 (in thousands) Quoted Prices in Active Markets for Identical Securities (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Earnout payable on acquisitions $ — $ — $ 12,383 $ 12,383 Deferred purchase consideration — — 6,128 6,128 Warrant redemption liability — — 28,120 28,120 Total $ — $ — $ 46,631 $ 46,631
Summary of Reconciliation of the Fair Value of Financial Assets	The following is a reconciliation of the fair value of the Company’s financial assets that were measured using significant unobservable (Level 3) inputs: Nine Months Ended September 30, 2016 (in thousands) Forward Purchase Asset Total Fair value, January 1, 2016 $ 28,120 $ 28,120 Increase in fair value of forward purchase asset 29,391 29,391 Fair Value, September 30, 2016 $ 57,511 $ 57,511
Summary of Reconciliation of the Fair Value of Financial Liabilities	The following is a reconciliation of the fair value of the Company’s financial liabilities that were measured using significant unobservable (Level 3) inputs: Nine Months Ended September 30, 2016 (in thousands) Earnout Payable Deferred Purchase Consideration Warrant Redemption Liability Total Fair value, January 1, 2016 $ 12,383 $ 6,128 $ 28,120 $ 46,631 Record present value earnout payable on acquisitions 7,750 — — 7,750 Earnout payments made (6,529 ) — — (6,529 ) Decrease in fair value of earn-out liability (1,913 ) — — (1,913 ) Adjust fair value of earn-out for obligation of seller (5 ) — — (5 ) Deferred purchase payments made — (4,850 ) — (4,850 ) Equity issued for deferred purchase consideration — (563 ) — (563 ) Acquisition adjustment to purchase price — (759 ) — (759 ) Amortize present value discount on deferred purchase consideration — 44 — 44 Increase in fair value of warrant redemption liability — — 29,391 29,391 Fair Value, September 30, 2016 $ 11,686 $ — $ 57,511 $ 69,197

Description of Business and B35

Description of Business and Basis of Presentation - Additional Information (Details)	Sep. 30, 2016Services
Description Of Business And Basis Of Presentation [Line Items]
Number of services offered	2
Contego Services Group, LLC
Description Of Business And Basis Of Presentation [Line Items]
Ownership interest percentage in the subsidiary	97.00%
DecisionUR, LLC
Description Of Business And Basis Of Presentation [Line Items]
Ownership interest percentage in the subsidiary	98.80%

Business Combinations - Additio

Business Combinations - Additional Information (Details)	Apr. 19, 2016USD ($)	Apr. 02, 2015USD ($)	Sep. 30, 2016USD ($)Business	Sep. 30, 2015USD ($)	Dec. 31, 2015
Business Acquisition [Line Items]
Number of business firms acquired | Business			1
Decrease in the fair value of earnout obligations			$ 1,900,000
Business acquisition, earnout payable			11,700,000
Asset impairment charges			0	$ 0
Total Revenue			4,600,000
Net income or loss			36,000
Maximum
Business Acquisition [Line Items]
Business acquisition, maximum potential earnout payable			$ 13,200,000
Acquired finite lived intangible assets useful life			10 years
Discount rate			30.00%
Maximum | Customer & carrier relationships
Business Acquisition [Line Items]
Acquired finite lived intangible assets useful life			10 years
Maximum | Non-compete agreements
Business Acquisition [Line Items]
Acquired finite lived intangible assets useful life			2 years
Maximum | Trade Names
Business Acquisition [Line Items]
Acquired finite lived intangible assets useful life			7 years
Minimum
Business Acquisition [Line Items]
Acquired finite lived intangible assets useful life			2 years
Discount rate			17.00%
Minimum | Non-compete agreements
Business Acquisition [Line Items]
Acquired finite lived intangible assets useful life			1 year
Minimum | Trade Names
Business Acquisition [Line Items]
Acquired finite lived intangible assets useful life			5 years
Mehta and Pazol Consulting Services Private Limited
Business Acquisition [Line Items]
Business acquisition, total recorded purchase price	$ 1,100,000	$ 1,500,000
Date of acquisition		Apr. 1, 2015
Ownership interests	100.00%				51.00%
Acquisition date of remaining interest	Apr. 19, 2016

Business Combinations - Summary

Business Combinations - Summary of Purchase Prices of Businesses Acquired (Details) - Mid Atlantic Insurance Services, Inc.	Jan. 28, 2016USD ($)
Business Acquisition [Line Items]
Business acquisition, cash paid	$ 7,901,000
Business acquisition, accrued liability	926,000
Business acquisition, recorded earnout payable	7,750,000
Business acquisition, maximum potential earnout payable	8,500,000
Business acquisition, total recorded purchase price	$ 15,651,000

Business Combinations - Aggrega

Business Combinations - Aggregate Estimated Fair Values of the Net Assets Acquired (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Assets Acquired:
Goodwill	$ 121,683	$ 118,141
Series of Individually Immaterial Business Acquisitions
Assets Acquired:
Cash	28
Accounts receivable	1,481
Fixed assets	50
Goodwill	4,893
Intangible assets:
Total intangible assets	10,125
Total assets acquired	16,577
Liabilities assumed	926
Total net assets acquired	15,651
Series of Individually Immaterial Business Acquisitions | Customer & carrier relationships
Intangible assets:
Total intangible assets	9,205
Series of Individually Immaterial Business Acquisitions | Non-compete agreements
Intangible assets:
Total intangible assets	120
Series of Individually Immaterial Business Acquisitions | Trade name portfolio
Intangible assets:
Total intangible assets	$ 800

Business Combinations - Summa39

Business Combinations - Summary of Unaudited Pro Forma Historical Results (Details) - USD ($) $ / shares in Units, $ in Thousands	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Business Combinations [Abstract]
Total revenues	$ 181,834	$ 178,998
Net income (loss)	$ 19,438	$ 1,541
Basic net income (loss) per share	$ 0.65	$ 0.06
Diluted net income (loss) per share	$ 0.64	$ 0.06

Equity and Fixed Income Secur40

Equity and Fixed Income Security Investments - Additional Information (Details) - USD ($)	Sep. 30, 2016	Dec. 31, 2015
Schedule Of Trading Securities And Other Trading Assets [Line Items]
Equity and fixed income security investments		$ 3,173,000
Fair Value Investments
Schedule Of Trading Securities And Other Trading Assets [Line Items]
Equity and fixed income security investments	$ 0	$ 3,200,000

Fixed Assets and Other Long T41

Fixed Assets and Other Long Term Assets - Additional Information (Details)	9 Months Ended
	Sep. 30, 2016
Computer Equipment
Property Plant And Equipment [Line Items]
Estimated useful life	5 years
Software
Property Plant And Equipment [Line Items]
Estimated useful life	3 years
Furniture and Fixtures
Property Plant And Equipment [Line Items]
Estimated useful life	7 years
Building
Property Plant And Equipment [Line Items]
Estimated useful life	39 years
Capitalized Policy and Claims Administration System Development Costs
Property Plant And Equipment [Line Items]
Estimated useful life	5 years

Fixed Assets and Other Long T42

Fixed Assets and Other Long Term Assets - Major Classes of Fixed Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Fixed Assets
Fixed assets	$ 14,634	$ 13,285
Less accumulated depreciation and amortization	(9,323)	(8,193)
Fixed assets, net of accumulated depreciation and amortization	5,311	5,092
Computer Equipment, Software and Furniture and Fixtures
Fixed Assets
Fixed assets	9,384	8,124
Building
Fixed Assets
Fixed assets	1,428	1,428
Leasehold Improvements
Fixed Assets
Fixed assets	$ 3,822	$ 3,733

Fixed Assets and Other Long T43

Fixed Assets and Other Long Term Assets - Other Long Term Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Other long term assets
Capitalized policy and claims administration system development costs	$ 19,982	$ 17,712
Less accumulated depreciation	(8,829)	(6,284)
Other long term assets, net of accumulated depreciation	$ 11,153	$ 11,428

Goodwill and Other Intangible44

Goodwill and Other Intangible Assets - Additional Information (Details)	9 Months Ended
	Sep. 30, 2016USD ($)
Goodwill And Intangible Assets Disclosure [Abstract]
Impairment of goodwill	$ 0
Goodwill acquired in acquisition	4,893,000
Adjustments to goodwill	(1,351,000)
Intangible assets acquired in acquisition	$ 10,100,000

Goodwill and Other Intangible45

Goodwill and Other Intangible Assets - Summary of Changes in Goodwill (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2016USD ($)
Goodwill And Intangible Assets Disclosure [Abstract]
Balance as of December 31, 2015	$ 118,141
Goodwill acquired	4,893
Acquisition adjustments	(1,351)
Balance as of September 30, 2016	$ 121,683

Goodwill and Other Intangible46

Goodwill and Other Intangible Assets - Schedule of Intangible Assets, their Original Fair Value, and their Net Book Values (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Finite Lived Intangible Assets [Line Items]
Gross asset	$ 97,320	$ 87,195
Accumulated amortization	(21,976)	(11,514)
Net asset	75,344	75,681
Service contracts
Finite Lived Intangible Assets [Line Items]
Gross asset	35,120	35,120
Accumulated amortization	(9,501)	(6,204)
Net asset	25,619	28,916
Customer & carrier relationships
Finite Lived Intangible Assets [Line Items]
Gross asset	40,243	31,039
Accumulated amortization	(4,899)	(1,947)
Net asset	35,344	29,092
Non-compete agreements
Finite Lived Intangible Assets [Line Items]
Gross asset	4,860	4,739
Accumulated amortization	(3,326)	(1,505)
Net asset	1,534	3,234
Developed technology
Finite Lived Intangible Assets [Line Items]
Gross asset	13,268	13,268
Accumulated amortization	(3,636)	(1,647)
Net asset	9,632	11,621
Trade Names
Finite Lived Intangible Assets [Line Items]
Gross asset	3,829	3,029
Accumulated amortization	(614)	(211)
Net asset	$ 3,215	$ 2,818

Goodwill and Other Intangible47

Goodwill and Other Intangible Assets - Estimated Amortization Expense for Intangible Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Amortization expense
2016 (remaining three months)	$ 3,515
2,017	12,554
2,018	11,629
2,019	11,629
2,020	9,984
Thereafter	26,033
Net asset	$ 75,344	$ 75,681

Notes Payable and Lines of Cr48

Notes Payable and Lines of Credit - Notes Payable (Detail) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Less current portion of notes payable	$ (6,875)	$ (5,500)
Less deferred loan fees	(2,063)	(2,352)
Notes Payable	93,437	98,648
BMO Senior Secured Term Loans
Debt Instrument [Line Items]
Notes payable, Gross	$ 102,375	$ 106,500

Notes Payable and Lines of Cr49

Notes Payable and Lines of Credit - Senior Secured Credit Facility - Additional Information (Details) - USD ($)	Aug. 14, 2015	Jan. 22, 2015	Sep. 30, 2016	Jun. 30, 2015
Revolving Credit Facility
Debt Instrument [Line Items]
Amount borrowed under credit agreement		$ 40,000,000	$ 33,900,000
Increase in size of credit facility		20,000,000
Line of credit facility, remaining commitment amount			$ 6,100,000
Revolving Credit Facility | Minimum
Debt Instrument [Line Items]
Commitment fee basis points			0.35%
Revolving Credit Facility | Maximum
Debt Instrument [Line Items]
Increase in size of credit facility		$ 5,000,000
Commitment fee basis points			0.50%
Senior Secured Credit Facility
Debt Instrument [Line Items]
Amount borrowed under credit agreement			$ 136,300,000
Credit facility term			5 years
Credit facility covenant terms			(i) a maximum total leverage ratio of total outstanding debt to adjusted EBITDA for the most recently-ended four fiscal quarters of no more than 300% and (ii) a minimum fixed charge coverage ratio of adjusted EBITDA to the sum of cash interest expense plus income tax expense (or less any income tax benefits) plus capital expenditures, plus dividends, share repurchases and other restricted payments, plus regularly scheduled principal payments of debt for the same period of a least 150% for the most recently ended four quarters.
Percentage of stock pledged			100.00%
Maximum leverage ratio of total outstanding debt to adjusted EBITDA			300.00%
Minimum fixed charge coverage ratio			150.00%
Dividends payable, maximum percentage of net income			50.00%
Senior Secured Credit Facility | Maximum
Debt Instrument [Line Items]
Increase on margins on loans and fees, percentage		2.00%
Percentage of assets guaranteed			5.00%
Senior Secured Credit Facility | LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate		2.50%
Senior Secured Credit Facility | LIBOR | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate		3.25%
Senior Secured Credit Facility | Base Rate | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate		2.25%
Senior Secured Credit Facility | Base Rate | Maximum
Debt Instrument [Line Items]
Basis spread on variable rate		1.50%
Senior Secured Credit Facility Second Amendment
Debt Instrument [Line Items]
Increase in size of credit facility	$ 50,000,000
Increase in term loan facility	50,000,000
Debt covenant adjusted EBITDA	70,000,000
Debt covenant outstanding revolving loans	$ 30,000,000
Credit facility covenant terms			(a) our total leverage ratio is equal to or less than 2.25 to 1.00 and (b) our Adjusted EBITDA for the twelve-months then ended is at least $70.0 million, the outstanding revolving loans (plus any swing line loans and the aggregate stated amount of all letters of credit) shall not exceed $30.0 million.
Senior Secured Credit Facility Second Amendment | Maximum
Debt Instrument [Line Items]
Debt covenant total leverage ratio	225.00%
Letter of Credit
Debt Instrument [Line Items]
Participation fee payable percentage			0.125%
BMO Term Loan
Debt Instrument [Line Items]
Amount borrowed under credit agreement		$ 40,000,000
Percentage of amortization of principal amount of term loan facility during first two years			5.00%
Percentage of amortization of principal amount of term loan facility during third and fourth year			7.50%
Percentage of amortization of principal amount of term loan facility during fifth year			10.00%
BMO Term Loan | Minimum
Debt Instrument [Line Items]
Increase in size of credit facility		5,000,000
Increase in term loan facility				$ 20,000,000
BMO Term Loan | Maximum
Debt Instrument [Line Items]
Increase in size of credit facility		$ 20,000,000
BMO Senior Secured Term Loans
Debt Instrument [Line Items]
Amount borrowed under credit agreement			$ 102,400,000

Capital Lease Obligations - Add

Capital Lease Obligations - Additional Information (Details) - USD ($) $ in Millions	Dec. 30, 2015	Sep. 30, 2016
Leases [Abstract]
Expiration of monthly payments on capital lease		Dec. 3, 2016
Capital lease obligation monthly lease payments	$ 0.2

Capital Lease Obligations - Sch

Capital Lease Obligations - Schedule of Capital Lease Obligations for Future Payments Based on Interest Rate Swap Rate (Details) $ in Thousands	Sep. 30, 2016USD ($)
Principal
2,016	$ 414
Interest
2,016	2
Payments on Capital Lease
2,016	$ 416

Earnings Per Share - Components

Earnings Per Share - Components of Basic and Diluted EPS (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Basic net earnings (loss) per share
Net income (loss) available to common shareholders	$ 1,876	$ 3,788	$ 19,436	$ (8)
Weighted average number of common shares outstanding	31,316	26,802	29,881	26,006
Basic net earnings (loss) per share	$ 0.06	$ 0.14	$ 0.65	$ 0
Diluted net earnings (loss) per share
Net income (loss) available to common shareholders	$ 1,876	$ 3,788	$ 19,436	$ (8)
Net earnings (loss) attributable to diluted shares	$ 1,876	$ 3,788	$ 19,436	$ (8)
Weighted average number of common shares outstanding	31,316	26,802	29,881	26,006
Dilutive effect of warrants, options, and restricted shares using the treasury stock method	789	1,138	685
Weighted average number of common and common equivalent shares outstanding	32,105	27,940	30,566	26,006
Diluted net earnings (loss) per share	$ 0.06	$ 0.14	$ 0.64	$ 0

Earnings Per Share - Additional

Earnings Per Share - Additional Information (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Apr. 07, 2016	Mar. 03, 2016
Schedule Of Earnings Per Share Basic And Diluted [Line Items]
Common stock approved under share repurchase program						$ 15,000,000
Common stock purchase under share repurchase program						1,000,000
Repurchase and retired common stock, shares			1,360,457
Repurchase of common stock, purchase price			$ 8.7
Repurchase shares retired			1,360,457
Treasury Stock Shares	0		0
Basic net earnings (loss) per share	$ 0.06	$ 0.14	$ 0.65	$ 0
Diluted net earnings (loss) per share	$ 0.06	$ 0.14	$ 0.64	$ 0
Net loss	$ 1,876,000	$ 3,788,000	$ 19,436,000	$ (8,000)
Series B Warrants
Schedule Of Earnings Per Share Basic And Diluted [Line Items]
Number of warrants fixed					4,900,000
Weighted average number of shares basic and diluted			3,100,000
Employee Stock Option
Schedule Of Earnings Per Share Basic And Diluted [Line Items]
Number of stock options not dilutive			1,100,000
Common Stock Warrants
Schedule Of Earnings Per Share Basic And Diluted [Line Items]
Number of stock options not dilutive				160,295
Deferred Contingent Purchase Consideration
Schedule Of Earnings Per Share Basic And Diluted [Line Items]
Number of stock options not dilutive				107,070
Restricted Shares and Stock Options
Schedule Of Earnings Per Share Basic And Diluted [Line Items]
Number of stock options not dilutive				114,634
Maximum
Schedule Of Earnings Per Share Basic And Diluted [Line Items]
Common stock approved under share repurchase program						$ 15,000,000
BMO Credit Facility | Maximum
Schedule Of Earnings Per Share Basic And Diluted [Line Items]
Common stock purchase under share repurchase program	1,000,000		1,000,000

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016USD ($)shares	Sep. 30, 2015USD ($)	Sep. 30, 2016USD ($)Installmentsshares	Sep. 30, 2015USD ($)	Dec. 31, 2015shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock option vesting installments | Installments			3
Number of stock options awarded			68,533
Number of stock options forfeited			116,483
Number of stock options outstanding	1,156,759		1,156,759		1,205,000
Aggregate intrinsic value of options outstanding | $	$ 184		$ 184
Fair value of options at grant date | $			3,500
Share based compensation | $	1,037	$ 2,586	$ 3,738	$ 8,791
Employee Stock Option
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock award expiration period			10 years
Share based compensation | $	300		$ 900
Total unrecognized compensation cost related to unvested stock options | $	1,100		$ 1,100
Weighted average period of recognition for costs not yet recognized			1 year 3 months 18 days
Restricted Stock Awards
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share based compensation | $	$ 600		$ 2,300
Weighted average period of recognition for costs not yet recognized			1 year 1 month 6 days
Restricted shares granted			101,000
Restricted shares forfeited			52,000
Restricted shares vested			246,000
Unvested restricted shares outstanding at end of period	357,000		357,000		554,000
Total unrecognized compensation cost related to unvested restricted stock | $	$ 1,900		$ 1,900
Restricted Stock Awards | Directors Officers and Key Employees
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Restricted shares granted			101,352
Restricted shares forfeited			51,707
Restricted shares vested			246,519
Unvested restricted shares outstanding at end of period	357,341		357,341
Unvested restricted shares outstanding , total fair value | $			$ 3,200
Restricted Stock Unit
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share based compensation | $	$ 100		$ 500
Weighted average period of recognition for costs not yet recognized			1 year 8 months 12 days
Restricted shares granted			26,935
Restricted shares forfeited			32,544
Restricted shares vested			50,783
Unvested restricted shares outstanding at end of period	112,776		112,776		169,000
Unvested restricted shares outstanding , total fair value | $			$ 1,000
Total unrecognized compensation cost related to unvested restricted stock | $	$ 700		$ 700

Stock-Based Compensation - Summ

Stock-Based Compensation - Summary of Significant Assumptions Used in Black-Scholes Option Pricing Model to Estimate Fair Value of Stock Options Granted to Employees (Details)		9 Months Ended
		Sep. 30, 2016	Sep. 30, 2015
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Expected dividend yield		0.00%	0.00%
Risk-free interest rate	[1]	0.49%	0.49%
Expected volatility	[2]	33.02%	33.02%
Expected life in years	[3]	3 years	3 years
[1]	The risk-free interest rate for the periods within the contractual term of the options is based on the U.S. Treasury yield curve in effect at the time of the grant.
[2]	The expected volatility is a measure of the amount by which a stock price has fluctuated or is expected to fluctuate based primarily on our and our peers' historical data.
[3]	The expected life is the period of time, on average, that participants are expected to hold their options before exercise based primarily on our historical data.

Stock - Based Compensation - Sc

Stock - Based Compensation - Schedule of Stock Option Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2016	Dec. 31, 2015
Number of Shares
Number of shares, options outstanding at beginning of period	1,205,000
Number of stock options awarded	68,533
Number of shares, options cancelled or forfeited	(116,483)
Number of shares, options outstanding, ending balance	1,156,759	1,205,000
Number of shares, options expected to vest at end of period	752,000
Number of shares, options exercisable at end of period	405,000
Weighted Average Exercise Price Per Share
Weighted average exercise price, Outstanding at beginning of period	$ 14.41
Weighted average exercise price, Granted	6.32
Weighted average exercise price, Canceled or Forfeited	14.87
Weighted average exercise price, Outstanding at end of period	13.89	$ 14.41
Weighted average exercise price, Expected to vest	13.77
Weighted average exercise price, Exercisable at end of period	$ 14.11
Weighted Average Remaining Contractual Term (In Years)
Weighted average remaining contractual term of Options Outstanding at beginning of period	8 years 2 months 12 days	8 years 6 months
Weighted-Average Remaining Contractual Term options granted	9 years 4 months 24 days
Weighted average remaining contractual term of Options Expected to vest at end of period	8 years 1 month 6 days
Weighted average remaining contractual term of Options Exercisable at end of period	8 years 4 months 24 days
Aggregate Intrinsic Value
Aggregate intrinsic value of Options granted	$ 184
Aggregate intrinsic value of Options outstanding at September 30, 2016	184
Aggregate intrinsic value of Options excepted to vest at September 30, 2016	157
Aggregate intrinsic value of Options exercisable at September 30, 2016	$ 27

Stock-Based Compensation - Su57

Stock-Based Compensation - Summary of Grants of Restricted Shares (Details)	9 Months Ended
	Sep. 30, 2016$ / sharesshares
Restricted Stock Awards
Number of Shares
Unvested restricted shares outstanding at December 31, 2015 | shares	554,000
Restricted shares granted | shares	101,000
Restricted shares vested | shares	(246,000)
Restricted shares forfeited | shares	(52,000)
Unvested restricted shares outstanding as of September 30, 2016 | shares	357,000
Weighted-Average Grant-Date Fair Value
Weighted-Average Grant-Date Fair Value, Unvested restricted shares outstanding at December 31, 2015 | $ / shares	$ 14.48
Weighted-Average Grant-Date Fair Value, Restricted shares granted | $ / shares	6.16
Weighted-Average Grant-Date Fair Value, Restricted shares vested | $ / shares	11.85
Weighted-Average Grant-Date Fair Value, Restricted shares forfeited | $ / shares	15.95
Weighted-Average Grant-Date Fair Value, Unvested restricted shares outstanding as of September 30, 2016 | $ / shares	$ 13.72
Restricted Stock Unit
Number of Shares
Unvested restricted shares outstanding at December 31, 2015 | shares	169,000
Restricted shares granted | shares	26,935
Restricted shares vested | shares	(50,783)
Restricted shares forfeited | shares	(32,544)
Unvested restricted shares outstanding as of September 30, 2016 | shares	112,776
Weighted-Average Grant-Date Fair Value
Weighted-Average Grant-Date Fair Value, Unvested restricted shares outstanding at December 31, 2015 | $ / shares	$ 15.03
Weighted-Average Grant-Date Fair Value, Restricted shares granted | $ / shares	7.67
Weighted-Average Grant-Date Fair Value, Restricted shares vested | $ / shares	14.97
Weighted-Average Grant-Date Fair Value, Restricted shares forfeited | $ / shares	14.23
Weighted-Average Grant-Date Fair Value, Unvested restricted shares outstanding as of September 30, 2016 | $ / shares	$ 13.51

Fair Value Measurement of Fin58

Fair Value Measurement of Financial Assets and Liabilities - Summary of Fair Value Measurement of Equity and fixed Income Security Investments (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Trading securities forward purchase asset	$ 57,511	$ 31,293
Common and preferred stocks
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Trading securities forward purchase asset		384
Corporate notes and bonds
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Trading securities forward purchase asset		2,789
Forward Purchase Asset
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Trading securities forward purchase asset	57,511	28,120
Quoted Prices in Active Markets for Identical Securities (Level 1)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Trading securities forward purchase asset		3,173
Quoted Prices in Active Markets for Identical Securities (Level 1) | Common and preferred stocks
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Trading securities forward purchase asset		384
Quoted Prices in Active Markets for Identical Securities (Level 1) | Corporate notes and bonds
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Trading securities forward purchase asset		2,789
Significant Unobservable Inputs (Level 3)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Trading securities forward purchase asset	57,511	28,120
Significant Unobservable Inputs (Level 3) | Forward Purchase Asset
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Trading securities forward purchase asset	$ 57,511	$ 28,120

Fair Value Measurement of Fin59

Fair Value Measurement of Financial Assets and Liabilities - Summary of Reconciliation of the Fair Value of Financial Assets (Details) - Significant Unobservable Inputs (Level 3) $ in Thousands	9 Months Ended
	Sep. 30, 2016USD ($)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fair value, beginning balance	$ 28,120
Increase in fair value of forward purchase asset	29,391
Fair value, ending balance	57,511
Forward Purchase Asset
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fair value, beginning balance	28,120
Increase in fair value of forward purchase asset	29,391
Fair value, ending balance	$ 57,511

Fair Value Measurement of Fin60

Fair Value Measurement of Financial Assets and Liabilities - Summary of Fair Value Measurement of Financial Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Earnout payable on acquisitions	$ 11,686	$ 12,383
Deferred purchase consideration		6,128
Warrant redemption liability	57,511	28,120
Total	69,197	46,631
Significant Unobservable Inputs (Level 3)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Earnout payable on acquisitions	11,686	12,383
Deferred purchase consideration		6,128
Warrant redemption liability	57,511	28,120
Total	$ 69,197	$ 46,631

Fair Value Measurement of Fin61

Fair Value Measurement of Financial Assets and Liabilities - Summary of Reconciliation of the Fair Value of Financial Liabilities (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2016
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fair value, beginning balance		$ 46,631
Record present value earnout payable on acquisitions		7,750
Earnout payments made		(6,529)
Increase (Decrease) in fair value of earn-out liability	$ 19	(1,913)
Adjust fair value of earn-out for obligation of seller		(5)
Deferred purchase payments made		(4,850)
Equity issued for deferred purchase consideration		(563)
Acquisition adjustment to purchase price		(759)
Amortize present value discount on deferred purchase consideration		44
Increase in fair value of warrant redemption liability		29,391
Fair value, ending balance	69,197	69,197
Earnout Payable
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fair value, beginning balance		12,383
Record present value earnout payable on acquisitions		7,750
Earnout payments made		(6,529)
Increase (Decrease) in fair value of earn-out liability		(1,913)
Adjust fair value of earn-out for obligation of seller		(5)
Fair value, ending balance	11,686	11,686
Deferred Purchase Consideration
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fair value, beginning balance		6,128
Deferred purchase payments made		(4,850)
Equity issued for deferred purchase consideration		(563)
Acquisition adjustment to purchase price		(759)
Amortize present value discount on deferred purchase consideration		44
Warrant Redemption Liability
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fair value, beginning balance		28,120
Increase in fair value of warrant redemption liability		29,391
Fair value, ending balance	$ 57,511	$ 57,511

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Details) - USD ($)	Nov. 14, 2016	Jan. 15, 2016	Dec. 23, 2015	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Related Party Transaction [Line Items]
Fee income from related party				$ 22,253,000	$ 23,773,000	$ 62,690,000	$ 68,852,000
Fee income				37,967,000	34,759,000	118,867,000	80,060,000
Fee income receivable from related party				35,306,000		35,306,000		$ 27,036,000
Number of shares of common stock purchased on proportion of shares issued upon exercise of warrants			100.00%
Entities controlled by Mr. Mariano
Related Party Transaction [Line Items]
Fee income receivable from related party				$ 2,700,000		2,700,000		500,000
Related Person Transaction Policy | Minimum
Related Party Transaction [Line Items]
Related party transaction amount						$ 120,000
Percentage of ownership interest				5.00%		5.00%
Guarantee Insurance
Related Party Transaction [Line Items]
Services agreement expiration start year						2,018
Services agreement expiration end year						2,022
Fee income from related party				$ 22,300,000	23,800,000	$ 62,700,000	68,900,000
Fee income receivable from related party				35,300,000		35,300,000		$ 27,000,000
Patriot fees received		$ 800,000
Guarantee Insurance | Guarantee Insurance Ceded Written Risk
Related Party Transaction [Line Items]
Fee income				$ 36,400,000	$ 38,500,000	$ 107,800,000	$ 107,200,000
Guarantee Insurance | Fee income and Fee income from related party | Customer Concentration Risk
Related Party Transaction [Line Items]
Concentration risk, percentage				37.00%	41.00%	35.00%	46.00%
Guarantee Insurance | Fee income and Fee income from related party | Guarantee Insurance Ceded Written Risk | Customer Concentration Risk
Related Party Transaction [Line Items]
Concentration risk, percentage				61.00%	66.00%	59.00%	72.00%
Guarantee Insurance | Steven M Mariano | Scenario, Forecast
Related Party Transaction [Line Items]
Percentage of beneficially owned of outstanding common stock	54.50%

Concentration - Additional Info

Concentration - Additional Information (Details) - Customer Concentration Risk	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Fee income and Fee income from related party | Second Largest Customer
Concentration Risk [Line Items]
Concentration risk, percentage			6.00%	8.00%
Fee income receivable | Second Largest Customer
Concentration Risk [Line Items]
Concentration risk, percentage			1.00%		3.00%
Guarantee Insurance | Fee income and Fee income from related party
Concentration Risk [Line Items]
Concentration risk, percentage	37.00%	41.00%	35.00%	46.00%
Guarantee Insurance | Fee income and Fee income from related party | Largest Customer
Concentration Risk [Line Items]
Concentration risk, percentage			59.00%	72.00%
Guarantee Insurance | Fee income receivable | Largest Customer
Concentration Risk [Line Items]
Concentration risk, percentage			79.00%		77.00%

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details)	9 Months Ended
	Sep. 30, 2016
Hudson Bay Master Fund Ltd
Loss Contingencies [Line Items]
Lawsuit filling date	Apr. 13, 2016
CVI Investments Inc
Loss Contingencies [Line Items]
Lawsuit filling date	Apr. 14, 2016

Warrant Redemption Liability -

Warrant Redemption Liability - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands	Dec. 23, 2015	Dec. 13, 2015	Sep. 30, 2016	Dec. 31, 2015
Class Of Warrant Or Right [Line Items]
Warrant redemption liability			$ 57,511	$ 28,120
Number of shares of common stock purchased on proportion of shares issued upon exercise of warrants	100.00%
Securities Purchase Agreement
Class Of Warrant Or Right [Line Items]
Issuance of common stock, shares		666,666
Stock Back-to-Back Agreement
Class Of Warrant Or Right [Line Items]
Number of shares of common stock purchased on proportion of shares issued upon exercise of warrants		60.00%
Exchange Agreement
Class Of Warrant Or Right [Line Items]
Number of shares of common stock purchased on proportion of shares issued upon exercise of warrants	100.00%
Shares of Common Stock Rescinded from Sale and Purchase	666,666
Mr. Mariano | Securities Purchase Agreement
Class Of Warrant Or Right [Line Items]
Issuance of common stock, shares		2,500,000
Issuance of common stock		$ 30,000
Series A And Series B
Class Of Warrant Or Right [Line Items]
Warrant redemption liability			$ 57,500
New Series A Warrants
Class Of Warrant Or Right [Line Items]
Common stock at an adjusted strike price			0.15
Call option on common stock at an adjusted strike price			0.85
Date from which warrants exercisable, start date			Jul. 1, 2016
Date from which warrants exercisable, end date			Dec. 31, 2020
New Series A Warrants | Exchange Agreement | Maximum
Class Of Warrant Or Right [Line Items]
Warrants to purchase shares of common stock	3,250,000
New Series B Warrants
Class Of Warrant Or Right [Line Items]
Exercise price of warrants	$ 0.01		$ 0.01
Date from which warrants exercisable, start date			Dec. 16, 2015
Date from which warrants exercisable, end date			Dec. 31, 2020
New Series B Warrants | Exchange Agreement
Class Of Warrant Or Right [Line Items]
Exercise price of warrants	$ 4.51
Warrants to purchase shares of common stock	4,889,165
Percentage of lowest ten day volume weighted average stock price	90.00%
Exchange agreements, commencement date	Feb. 1, 2016
Exchange agreements, end date	Mar. 17, 2016
Old Series A Warrants | Securities Purchase Agreement | Maximum
Class Of Warrant Or Right [Line Items]
Warrants to purchase shares of common stock		2,083,333
Old Series B Warrants | Securities Purchase Agreement
Class Of Warrant Or Right [Line Items]
Prepaid warrants to purchase shares of common stock		1,000,000
Old Warrants | Securities Purchase Agreement
Class Of Warrant Or Right [Line Items]
Aggregate purchase price of warrants		$ 20,000

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($)	9 Months Ended
	Sep. 30, 2016	Jun. 30, 2016	Dec. 31, 2015
Income Tax Disclosure [Abstract]
Effective income tax rate	36.00%
Deferred tax asset, net	$ 13,626,000
Valuation allowance		$ 12,500,000
Unrecognized tax benefits	0		$ 0
Uncertain tax positions	$ 0		$ 0

Subsequent Events - Additional

Subsequent Events - Additional Information (Details) - USD ($)	Nov. 09, 2016	Jan. 22, 2015	Sep. 30, 2016	Sep. 30, 2016	Nov. 08, 2016	Mar. 03, 2016
Subsequent Event [Line Items]
Dividends payable, date to be paid			Dec. 9, 2016
Dividends payable, date of record			Nov. 28, 2016
Stock approved under share repurchase program						$ 15,000,000
Stock remaining under share repurchase program			$ 6,000,000	$ 6,000,000
Common stock purchase under share repurchase program						1,000,000
Term Loan
Subsequent Event [Line Items]
Amortization of principal amount of term loan facility during first years			1,250,000	1,250,000
Amortization of principal amount of term loan facility during second years			2,000,000	2,000,000
Amortization of principal amount of term loan facility during third years			2,500,000	$ 2,500,000
Maximum
Subsequent Event [Line Items]
Stock approved under share repurchase program						$ 15,000,000
Stock repurchase program, expiration date				Nov. 9, 2018
Revolving Credit Facility
Subsequent Event [Line Items]
Amount borrowed under credit agreement		$ 40,000,000	33,900,000	$ 33,900,000
Revolving Credit Facility | Minimum
Subsequent Event [Line Items]
Commitment fee basis points				0.35%
Revolving Credit Facility | Maximum
Subsequent Event [Line Items]
Commitment fee basis points				0.50%
Senior Secured Credit Facility
Subsequent Event [Line Items]
Amount borrowed under credit agreement			$ 136,300,000	$ 136,300,000
Credit facility term				5 years
Percentage of stock pledged				100.00%
Credit facility covenant terms				(i) a maximum total leverage ratio of total outstanding debt to adjusted EBITDA for the most recently-ended four fiscal quarters of no more than 300% and (ii) a minimum fixed charge coverage ratio of adjusted EBITDA to the sum of cash interest expense plus income tax expense (or less any income tax benefits) plus capital expenditures, plus dividends, share repurchases and other restricted payments, plus regularly scheduled principal payments of debt for the same period of a least 150% for the most recently ended four quarters.
Maximum leverage ratio of total outstanding debt to adjusted EBITDA				300.00%
Minimum fixed charge coverage ratio				150.00%
Senior Secured Credit Facility | LIBOR
Subsequent Event [Line Items]
Basis spread on variable rate		2.50%
Senior Secured Credit Facility | LIBOR | Minimum
Subsequent Event [Line Items]
Basis spread on variable rate		3.25%
Senior Secured Credit Facility | Base Rate | Minimum
Subsequent Event [Line Items]
Basis spread on variable rate		2.25%
Senior Secured Credit Facility | Base Rate | Maximum
Subsequent Event [Line Items]
Basis spread on variable rate		1.50%
Subsequent Event
Subsequent Event [Line Items]
Dividends approved	$ 2.50
Increase in stock repurchase authorization	$ 34,000,000
Subsequent Event | Maximum
Subsequent Event [Line Items]
Stock approved under share repurchase program	$ 40,000,000
Subsequent Event | Revolving Credit Facility
Subsequent Event [Line Items]
Commitment fee basis points	0.50%
Lenders loan servicing fees per month	$ 5,000
Lenders loan closing fees	5,600,000
Subsequent Event | Revolving Credit Facility | Cerberus Business Finance, LLC
Subsequent Event [Line Items]
Amount borrowed under credit agreement	$ 30,000,000
Subsequent Event | Senior Secured Credit Facility
Subsequent Event [Line Items]
Credit facility term	5 years
Percentage of stock pledged	100.00%
Credit facility covenant terms	(i) a maximum total leverage ratio of total outstanding debt to adjusted EBITDA for the most recently-ended four fiscal quarters of no more than 5.25:1.00 and (ii) a minimum fixed charge coverage ratio of (a)(1) adjusted EBITDA less (2) unfinanced capital expenditures, to (b) the sum of (1) scheduled principal payments of debt (which amount has been agreed upon for the three, six and nine month periods ending March 31, 2016, June 30, 2016 and September 30, 2016), (2) cash interest expense (which amount has been agreed upon for the three, six and nine month periods ending March 31, 2016, June 30, 2016 and September 30, 2016), (3) income tax expense (which amount has been agreed upon for the three, six and nine month periods ending March 31, 2016, June 30, 2016 and September 30, 2016) and (4) dividends, share repurchases and other restricted payments for the same period of a least 1.25:1.00 for the most recently-ended four quarters.
Maximum leverage ratio of total outstanding debt to adjusted EBITDA	525.00%
Minimum fixed charge coverage ratio	125.00%
Subsequent Event | Senior Secured Credit Facility | Cerberus Business Finance, LLC
Subsequent Event [Line Items]
Amount borrowed under credit agreement	$ 250,000,000
Subsequent Event | Senior Secured Credit Facility | LIBOR | Minimum
Subsequent Event [Line Items]
Basis spread on variable rate	7.00%
Interest rate before applicable margin	1.00%
Subsequent Event | Senior Secured Credit Facility | LIBOR | Maximum
Subsequent Event [Line Items]
Basis spread on variable rate	7.25%
Subsequent Event | Senior Secured Credit Facility | Base Rate | Minimum
Subsequent Event [Line Items]
Basis spread on variable rate	5.25%
Interest rate before applicable margin	3.00%
Subsequent Event | Senior Secured Credit Facility | Base Rate | Maximum
Subsequent Event [Line Items]
Basis spread on variable rate	5.50%
Subsequent Event | Ebix Inc
Subsequent Event [Line Items]
Business acquisition proposal rejected value					$ 475,000,000