|
Condensed Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
|
3 Months Ended |
|
Mar. 31, 2015
|
Mar. 31, 2014
|
| Operating activities |
|
|
| Net loss |
$ (9,158) |
$ (4,295) |
| Adjustments to reconcile net loss to net cash provided by operating activities: |
|
|
| Depreciation and amortization |
4,295 |
3,861 |
| Share-based compensation |
5,370 |
4,001 |
| Provision for doubtful accounts |
52 |
272 |
| Amortization of premiums on marketable securities |
670 |
366 |
| Deferred income tax benefit |
(6,026) |
(2,951) |
| Other |
82 |
7 |
| Change in operating assets and liabilities: |
|
|
| Trade and other receivables |
(295) |
(305) |
| Prepaid expenses and other current assets |
(4,319) |
(2,816) |
| Other non-current assets |
(44) |
251 |
| Accounts payable |
2,563 |
2,776 |
| Accrued expenses and other liabilities |
4,556 |
(835) |
| Deferred revenue |
22,777 |
17,213 |
| Other non-current liabilities |
7 |
771 |
| Net cash provided by operating activities |
20,530 |
18,316 |
| Investing activities |
|
|
| Acquisition of property and equipment |
(2,816) |
(3,927) |
| Purchases of marketable securities |
(39,379) |
(5,797) |
| Sale and maturities of marketable securities |
33,438 |
6,921 |
| Net cash used in investing activities |
(8,757) |
(2,803) |
| Financing activities |
|
|
| Proceeds from stock-based compensation plans |
1,773 |
4,432 |
| Payments for employee tax withholdings related to restricted stock units and awards |
(230) |
(154) |
| Net cash provided by financing activities |
1,543 |
4,278 |
| Net increase in cash and cash equivalents |
13,316 |
19,791 |
| Cash and cash equivalents at beginning of period |
146,569 |
123,911 |
| Cash and cash equivalents at end of period |
$ 159,885 |
$ 143,702 |