Quarterly Results of Operations (Unaudited)

12 Months Ended

Jun. 30, 2020

NOTE 14 – Quarterly Results of Operations (Unaudited)

The table below presents our unaudited consolidated statements of operations for each of the last eight quarters in the period ended June 30, 2020:

	Three months ended
	June 30, 2020			March 31, 2020			December 31, 2019			September 30, 2019			June 30, 2019			March 31, 2019			December 31, 2018			September 30, 2018
Revenue
Subscription and transaction fees	$	38,801		$	36,092		$	32,964		$	28,548		$	25,225		$	22,112		$	20,444		$	18,170
Interest on funds held for customers		3,309			5,138			6,116			6,632			6,459			6,132			5,555			4,254
Total revenue		42,110			41,230			39,080			35,180			31,684			28,244			25,999			22,424
Cost of revenue		10,100			10,110			9,787			9,147			8,488			7,914			7,175			6,341
Gross profit		32,010			31,120			29,293			26,033			23,196			20,330			18,824			16,083
Operating expenses
Research and development		14,929			13,969			12,992			11,515			9,447			7,899			6,154			5,424
Sales and marketing		11,796			11,802			11,491			10,267			9,949			7,365			6,856			5,944
General and administrative		15,546			15,064			12,748			10,535			8,953			7,904			6,404			5,937
Total operating expenses		42,271			40,835			37,231			32,317			28,349			23,168			19,414			17,305
Loss from operations		(10,261	)		(9,715	)		(7,938	)		(6,284	)		(5,153	)		(2,838	)		(590	)		(1,222	)
Other income, net		764			1,397			360			639			596			734			686			317
(Loss) income before provision for (benefit from) income taxes		(9,497	)		(8,318	)		(7,578	)		(5,645	)		(4,557	)		(2,104	)		96			(905	)
Provision for (benefit from) income taxes		1			1			—			51			(59	)		(70	)		(6	)		(21	)
Net (loss) income	$	(9,498	)	$	(8,319	)	$	(7,578	)	$	(5,696	)	$	(4,498	)	$	(2,034	)	$	102		$	(884	)
Net (loss) income per share attributable to common stockholders, basic and diluted	$	(0.13	)	$	(0.11	)	$	(0.34	)	$	(0.69	)	$	(0.56	)	$	(0.26	)	$	—		$	(0.12	)