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Consolidated Statements of Operations and Comprehensive Income (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Net revenues (note 10) $ 85,008,484 $ 49,064,327 $ 238,799,847 $ 141,014,329
Cost of revenues (note 10)        
Cost of revenues 61,066,761 30,846,668 169,822,817 89,445,493
Network expenses 2,460,696 1,287,620 7,064,458 3,925,377
Depreciation of property and equipment 823,441 278,746 2,128,417 976,419
Amortization of intangible assets (note 6) 499,032 13,421 1,334,596 36,485
Total cost of revenues 64,849,930 32,426,455 180,350,288 94,383,774
Gross profit 20,158,554 16,637,872 58,449,559 46,630,555
Expenses:        
Sales and marketing 7,578,414 5,479,445 22,244,961 15,174,619
Technical operations and development 1,910,147 1,270,107 5,402,385 3,445,118
General and administrative 2,852,345 2,166,217 9,596,298 7,497,752
Depreciation of property and equipment 154,638 178,687 485,648 328,877
Amortization of intangible assets (note 6) 1,745,923 279,126 4,735,221 613,041
Impairment of indefinite life intangible assets (note 6) 1,500 2,866 1,500 27,745
Loss (gain) on currency forward contracts (note 5) (54,075) 22,475 (115,276) (96,993)
Total expenses 14,188,892 9,398,923 42,350,737 26,990,159
Income from operations 5,969,662 7,238,949 16,098,822 19,640,396
Other income (expense):        
Interest expense, net (864,482) (135,168) (2,702,504) (301,868)
Other income, net 157,453 130,147 511,831 387,787
Total other income (expense) (707,029) (5,021) (2,190,673) 85,919
Income before provision for income taxes 5,262,633 7,233,928 13,908,149 19,726,315
Provision for income taxes (note 8) 1,823,367 2,492,649 2,780,908 6,476,012
Net income before redeemable non-controlling interest 3,439,266 4,741,279 11,127,241 13,250,303
Redeemable non-controlling interest (note 4 (a)) (68,635) (254,101) (311,693) (698,583)
Net income attributable to redeemable non-controlling interest 68,635 254,101 311,693 698,583
Net income for the period 3,439,266 4,741,279 11,127,241 13,250,303
Other comprehensive income (loss), net of tax        
Unrealized income (loss) on hedging activities (note 5) 309,445 (58,821) 638,442 516,406
Net amount reclassified to earnings (note 5) (317,516) 131,912 (415,561) 546,836
Other comprehensive income (loss) net of tax of $(4,591) and $41,580 for the three months ended September 30, 2017 and September 30, 2016, and $126,791 and $585,943 for the nine months ended September 30, 2017 and September 30, 2016 (note 5) (8,071) 73,091 222,881 1,063,242
Comprehensive income for the period $ 3,431,195 $ 4,814,370 $ 11,350,122 $ 14,313,545
Basic earnings per common share (note 9) (in dollars per share) $ 0.33 $ 0.45 $ 1.06 $ 1.26
Shares used in computing basic earnings per common share (note 9) (in shares) 10,564,311 10,432,763 10,522,841 10,549,056
Diluted earnings per common share (note 9) (in dollars per share) $ 0.32 $ 0.45 $ 1.03 $ 1.23
Shares used in computing diluted earnings per common share (note 9) (in shares) 10,785,342 10,619,005 10,785,050 10,736,775