XML 125 R7.htm IDEA: XBRL DOCUMENT v2.4.0.8
Condensed Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
6 Months Ended 12 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
Cash flows from operating activities:          
Net income (loss) $ 4,011 $ (2,106) $ (5,854) $ (4,372) $ (5,959)
Adjustments to reconcile net loss to net cash used in operating activities:          
Stock-based compensation 1,737 1,008 2,445 949 550
Depreciation and amortization 972 613 1,495 548 276
Loss on disposal of property and equipment/fixed asset   1 2 92 1
Discount/premium on investments 409 274 517 223 338
Amortization of warrant issuance costs 55 18 73    
Changes in operating assets and liabilities:          
Disbursement prefunding 834 (2,365) (6,066) (2,281) (617)
Customer funds receivable (38,138) (12,038) 7,869 (13,023) (2,989)
Prepaid expenses and other current assets 651 (579) (2,797) (406) (169)
Other assets 84 (114) (189) 70 (12)
Customer liabilities 15,106 5,240 344 4,148 398
Transaction loss reserves 302 211 (227) 479 (788)
Accounts payable and accrued expenses 707 922 1,551 1,513 659
Other non-current liabilities 4   87    
Net cash used in operating activities (13,266) (8,915) (750) (12,060) (8,312)
Cash flows from investing activities:          
Purchase of property, equipment and software (798) (1,760) (3,206) (1,735) (894)
Purchase of short-term investments/marketable securities (60,939) (14,260) (37,470) (23,131) (30,651)
Proceeds from sales and maturities of marketable securities 24,055 11,026 32,222 14,742 20,178
Change in restricted cash (1,014) (7,000) (7,607) (150) (1,020)
Net cash used in investing activities (38,696) (11,994) (16,061) (10,274) (12,387)
Cash flows from financing activities:          
Net proceeds from issuance of preferred stock   (5) (6) 24,982 17,486
Proceeds from exercise of preferred stock warrants         996
Proceeds from exercise of common stock options 535 47 146 156 161
Net borrowings under line of credit 9,000 11,500 13,500 24,750 900
Proceeds from initial public offering, net of costs 88,422        
Net cash provided by financing activities 97,957 11,542 13,640 49,888 19,543
Net increase (decrease) in cash and cash equivalents 45,995 (9,367) (3,171) 27,554 (1,156)
Cash and cash equivalents, beginning of period 45,077 48,248 48,248 20,694 21,850
Cash and cash equivalents, end of period 91,072 38,881 45,077 48,248 20,694
Supplemental disclosures of cash flow information:          
Cash paid for taxes 2 2 2 2 2
Cash paid for interest 706 410 1,659 443 162
Purchases of property and equipment in accounts payable and accrued expenses 123 12 46 56 17
Deferred offering costs not yet paid 9 1,489 699    
Issuance of common stock warrants     $ 219