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v3.3.1.900

Consolidated Statements of Operations and Comprehensive Loss - USD ($) $ in Thousands | 12 Months Ended
--- | ---
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013
Revenues |  |  |
Subscription solutions | $ 111,979 | $ 66,668 | $ 38,339
Merchant solutions | 93,254 | 38,350 | 11,913
Total revenues | 205,233 | 105,018 | 50,252
Cost of revenues |  |  |
Subscription solutions | 24,531 | 16,790 | 8,504
Merchant solutions | 69,631 | 26,433 | 5,009
Total cost of revenues | 94,162 | 43,223 | 13,513
Gross profit | 111,071 | 61,795 | 36,739
Operating expenses |  |  |
Sales and marketing | 70,374 | 45,929 | 23,351
Research and development, net of refundable tax credits of $1,058 (2014 – $1,295; 2013 – $891) | 39,722 | 25,915 | 13,682
General and administrative | 18,731 | 11,566 | 3,975
Total operating expenses | 128,827 | 83,410 | 41,008
Loss from operations | (17,756) | (21,615) | (4,269)
Other income (expense) |  |  |
Interest income, net | 200 | 57 | 42
Loss on asset disposal | 0 | (100) | (73)
Foreign exchange loss | (1,234) | (653) | (537)
Total other income (expense) | (1,034) | (696) | (568)
Net loss and comprehensive loss | $ (18,790) | $ (22,311) | $ (4,837)
Basic and diluted net loss per share attributable to common shareholders (in dollars per share) | $ (0.30) | $ (0.57) | $ (0.13)
Weighted average shares used to compute basic and diluted net loss per share attributable to shareholders (in shares) | 61,716,065 | 38,940,252 | 37,248,710

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