XOOM Corp

CIK:0001315657|SEC Filings

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Income Statement [Abstract]
Revenue	$ 42,431	$ 39,416	$ 133,176	$ 115,198
Cost of revenue	14,554	11,121	39,936	33,676
Gross profit	27,877	28,295	93,240	81,522
Marketing	9,977	7,193	30,426	23,331
Technology and development	11,758	10,018	34,978	26,669
Customer service and operations	5,021	4,403	14,428	12,748
General and administrative	16,639	5,741	31,769	15,716
Total operating expense	43,395	27,355	111,601	78,464
Income from operations	(15,518)	940	(18,361)	3,058
Other income (expense):
Interest expense	(370)	(351)	(1,064)	(1,023)
Interest income	83	59	231	204
Other income (expense)	(165)	(220)	(295)	(30)
Income (loss) before income taxes	(15,970)	428	(19,489)	2,209
Provision for income taxes	43	30	123	61
Net income (loss)	$ (16,013)	$ 398	$ (19,612)	$ 2,148
Net income (loss) per share:
Basic	$ (0.41)	$ 0.01	$ (0.50)	$ 0.06
Diluted	$ (0.41)	$ 0.01	$ (0.50)	$ 0.05
Weighted-average shares used to compute net income (loss) per share:
Basic	39,448	38,347	39,147	38,085
Diluted	39,448	41,765	39,147	41,701

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Cash flows from operating activities:
Net income (loss)	$ (19,612)	$ 2,148
Adjustments to reconcile net income to net cash used in operating activities:
Stock-based compensation	10,031	6,876
Depreciation And Amortization	3,539	2,719
Amortization of acquired intangible	611	611
Impairment charges and loss on disposal of long-lived assets	100	312
Amortization of net premium on investments	652	1,073
Amortization of warrant issuance costs	16	16
Changes in operating assets and liabilities:
Disbursement prefunding	16,608	(45,041)
Customer funds receivable	(6,042)	(17,093)
Prepaid expenses and other current assets	(2,282)	(868)
Other assets	108	288
Customer liabilities	799	10,501
Accounts payable and accrued expenses	2,366	864
Non-current liabilities	284	1,945
Net cash provided by operating activities	7,178	(35,649)
Cash flows from investing activities:
Purchase of property, equipment, software, and intangible assets	(4,630)	(10,793)
Purchase of short-term investments	(73,502)	(108,896)
Proceeds from sales and maturities of short-term investments	97,061	109,269
Cash paid in business combination, net of cash received	(1,500)	(8,874)
Change in restricted cash	(2,783)	(3,154)
Net cash provided by (used in) investing activities	14,646	(22,448)
Cash flows from financing activities:
Proceeds from exercise of common stock options	4,983	3,003
Excess tax benefit related to stock-based compensation		23
Taxes paid related to net share settlement	(1,197)
Net borrowings (repayments) under line of credit	(28,000)	38,000
Net cash provided by (used in) financing activities	(24,214)	41,026
Net increase (decrease) in cash and cash equivalents	(2,390)	(17,071)
Cash and cash equivalents, beginning of period	67,216	110,979
Cash and cash equivalents, end of period	64,826	93,908
Supplemental disclosures of cash flow information:
Cash paid for taxes	114	2
Cash paid for interest	782	767
Cash received from refund of income taxes	17
Supplemental disclosure of non-cash investing and financing activities:
Issuance of common stock in connection with acquisition of BlueKite, LTD		4,470
Purchases of property and equipment in accounts payable and accrued expenses	$ 808	$ 2,225

Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Current assets:
Cash and cash equivalents	$ 64,826	$ 67,216
Disbursement prefunding	54,559	71,167
Short-term investments	87,615	111,777
Customer funds receivable	24,632	18,590
Prepaid expenses and other current assets	7,757	5,417
Total current assets	239,389	274,167
Non-current assets:
Property, equipment and software, net	16,785	15,670
Goodwill	9,032	9,032
Intangibles, net	4,500	5,129
Restricted cash	13,754	10,971
Other assets	1,106	755
Total assets	284,566	315,724
Current liabilities:
Accounts payable and accrued expenses	15,965	14,533
Customer liabilities	12,338	11,540
Line of credit		28,000
Total current liabilities	28,303	54,073
Non-current liabilities:
Non-current liabilities	6,169	5,885
Total liabilities	$ 34,472	$ 59,958
Commitments and Contingencies (Note 11)
Stockholders' equity:
Common stock, $0.0001 par value, 500,000,000 shares authorized; issued and outstanding 39,554,634 and 38,592,808 shares at September 30, 2015 and December 31, 2014, respectively	$ 4	$ 4
Additional paid-in capital	353,060	339,169
Accumulated other comprehensive loss	(6)	(55)
Accumulated deficit	(102,964)	(83,352)
Total stockholders' equity	250,094	255,766
Total liabilities and stockholders' equity	$ 284,566	$ 315,724