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Quarterly Financial Information ( Unaudited ) | 12 Months Ended
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Dec. 31, 2015
Quarterly Financial Information ( Unaudited ) |
Quarterly Financial Information ( Unaudited ) | 14. Quarterly Financial Information (Unaudited—see accompanying accountants' report) The following tables set forth certain unaudited quarterly financial data for 2015 and 2014. This unaudited information has been prepared on the same basis as the audited information included elsewhere in this Annual Report and includes all adjustments necessary to present fairly the information set forth therein. The operating results are not necessarily indicative of results for any future period.
|  | Three Months Ended |
|  | March 31, 2015 |  | June 30, 2015 |  | September 30, 2015 |  | December 31, 2015 |
|  | (in thousands, except share and per share amounts) |
Revenue |  | $ | 34,612 |  | $ | 35,238 |  | $ | 37,092 |  | $ | 43,252 |
Costs and expenses: |  |  |  |  |  |  |  |  |  |  |  |  |
Servicing and support |  |  | 7,550 |  |  | 7,903 |  |  | 7,845 |  |  | 8,749 |
Technology and content development |  |  | 6,134 |  |  | 6,466 |  |  | 7,082 |  |  | 7,529 |
Program marketing and sales |  |  | 19,587 |  |  | 21,526 |  |  | 21,567 |  |  | 20,231 |
General and administrative |  |  | 6,711 |  |  | 8,871 |  |  | 8,477 |  |  | 10,064 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total costs and expenses |  |  | 39,982 |  |  | 44,766 |  |  | 44,971 |  |  | 46,573 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Loss from operations |  |  | (5,370 | ) |  | (9,528 | ) |  | (7,879 | ) |  | (3,321 | )
Other income (expense): |  |  |  |  |  |  |  |  |  |  |  |  |
Interest expense |  |  | (126 | ) |  | (126 | ) |  | (127 | ) |  | (173 | )
Interest income |  |  | 28 |  |  | 24 |  |  | 21 |  |  | 94 |
Other |  |  | — |  |  | — |  |  | (250 | ) |  | — |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total other income (expense) |  |  | (98 | ) |  | (102 | ) |  | (356 | ) |  | (79 | )
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net loss |  | $ | (5,468 | ) | $ | (9,630 | ) | $ | (8,235 | ) | $ | (3,400 | )
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net loss per share: |  |  |  |  |  |  |  |  |  |  |  |  |
Basic and diluted |  | $ | (0.13 | ) | $ | (0.23 | ) | $ | (0.20 | ) | $ | (0.07 | )
Weighted-average shares used in computing net loss per share: |  |  |  |  |  |  |  |  |  |  |  |  |
Basic and diluted |  |  | 40,978,741 |  |  | 41,362,476 |  |  | 41,645,894 |  |  | 45,651,475 |
|  | Three Months Ended |
|  | March 31, 2014 |  | June 30, 2014 |  | September 30, 2014 |  | December 31, 2014 |
|  | (in thousands, except share and per share amounts) |
Revenue |  | $ | 26,332 |  | $ | 24,744 |  | $ | 28,407 |  | $ | 30,756 |
Costs and expenses: |  |  |  |  |  |  |  |  |  |  |  |  |
Servicing and support |  |  | 6,248 |  |  | 7,000 |  |  | 6,598 |  |  | 7,012 |
Technology and content development |  |  | 5,674 |  |  | 5,818 |  |  | 5,726 |  |  | 5,403 |
Program marketing and sales |  |  | 15,241 |  |  | 16,710 |  |  | 16,971 |  |  | 16,296 |
General and administrative |  |  | 5,436 |  |  | 5,708 |  |  | 6,303 |  |  | 5,973 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total costs and expenses |  |  | 32,599 |  |  | 35,236 |  |  | 35,598 |  |  | 34,684 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Loss from operations |  |  | (6,267 | ) |  | (10,492 | ) |  | (7,191 | ) |  | (3,928 | )
Other income (expense): |  |  |  |  |  |  |  |  |  |  |  |  |
Interest expense |  |  | (784 | ) |  | (134 | ) |  | (176 | ) |  | (119 | )
Interest income |  |  | 1 |  |  | 31 |  |  | 30 |  |  | 30 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total other income (expense) |  |  | (783 | ) |  | (103 | ) |  | (146 | ) |  | (89 | )
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net loss |  | $ | (7,050 | ) | $ | (10,595 | ) | $ | (7,337 | ) | $ | (4,017 | )
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net loss per share: |  |  |  |  |  |  |  |  |  |  |  |  |
Basic and diluted |  | $ | (0.92 | ) | $ | (0.27 | ) | $ | (0.18 | ) | $ | (0.10 | )
Weighted-average shares used in computing net loss per share: |  |  |  |  |  |  |  |  |  |  |  |  |
Basic and diluted |  |  | 7,698,709 |  |  | 39,304,884 |  |  | 40,269,937 |  |  | 40,577,087 |

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- Definition The entire disclosure for the quarterly financial data in the annual financial statements. The disclosure may include a tabular presentation of financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income or loss before extraordinary items and earnings per share data. It also includes an indication if the information in the note is unaudited, comments on the aggregate effect of year-end adjustments, and an explanation of matters or transactions that affect comparability or are pertinent to an understanding of the information furnished. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 45 -Paragraph 13 -URI http://asc.fasb.org/extlink&oid=51655806&loc=d3e765-108305 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a)-(j) -URI http://asc.fasb.org/extlink&oid=51825399&loc=d3e1280-108306 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 45 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=51655806&loc=d3e725-108305 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 6 -Section G -Subsection 1 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-K (SK) -Number 229 -Section 302 -Paragraph a + Details
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