Document and Entity Information - USD ($) $ in Billions	12 Months Ended
Document and Entity Information - USD ($) $ in Billions	Jan. 31, 2018	Feb. 28, 2018	Jul. 31, 2017
Document and Entity Information [Abstract]
Entity Registrant Name	HEALTHEQUITY INC
Entity Central Index Key	0001428336
Current Fiscal Year End Date	--01-31
Entity Filer Category	Large Accelerated Filer
Document Type	10-K
Document Period End Date	Jan. 31, 2018
Document Fiscal Year Focus	2018
Document Fiscal Period Focus	FY
Amendment Flag	false
Entity Common Stock, Shares Outstanding		60,952,042
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Public Float			$ 2.3

Consolidated Balance Sheets - USD ($) $ in Thousands	Jan. 31, 2018	Jan. 31, 2017
Current assets
Cash and cash equivalents	$ 199,472	$ 139,954
Marketable securities, at fair value	40,797	40,405
Total cash, cash equivalents and marketable securities	240,269	180,359
Accounts receivable, net of allowance for doubtful accounts of $208 and $75 as of January 31, 2018 and 2017, respectively	21,602	17,001
Inventories	215	592
Other current assets	3,310	2,867
Total current assets	265,396	200,819
Property and equipment, net	7,836	5,170
Intangible assets, net	83,635	65,020
Goodwill	4,651	4,651
Deferred tax asset	5,461	1,615
Other assets	2,180	1,861
Total assets	369,159	279,136
Current liabilities
Accounts payable	2,420	3,221
Accrued compensation	12,549	8,722
Accrued liabilities	5,521	3,760
Total current liabilities	20,490	15,703
Long-term liabilities
Other long-term liabilities	2,395	1,456
Deferred tax liability	0	37
Total long-term liabilities	2,395	1,493
Total liabilities	22,885	17,196
Commitments and contingencies (see note 6)
Stockholders’ equity
Preferred stock, $0.0001 par value, 100,000 shares authorized, no shares issued and outstanding as of January 31, 2018 and 2017	0	0
Common stock, $0.0001 par value, 900,000 shares authorized, 60,825 and 59,538 shares issued and outstanding as of January 31, 2018 and 2017, respectively	6	6
Additional paid-in capital	261,237	232,114
Accumulated other comprehensive loss, net	(269)	(165)
Accumulated earnings	85,300	29,985
Total stockholders’ equity	346,274	261,940
Total liabilities and stockholders’ equity	$ 369,159	$ 279,136

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jan. 31, 2018	Jan. 31, 2017
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 208	$ 75
Preferred stock par value (dollars per share)	$ 0.0001	$ 0.0001
Preferred stock, shares authorized (shares)	100,000,000	100,000,000
Preferred stock, shares issued (shares)	0	0
Preferred stock, shares outstanding (shares)	0	0
Common stock, par value per share (dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized (shares)	900,000,000	900,000,000
Common stock, shares issued (shares)	60,825,000	59,538,000
Common stock, shares outstanding (shares)	60,825,000	59,538,000

Consolidated Statements of Operations and Comprehensive Income - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Jan. 31, 2018	Jan. 31, 2017	Jan. 31, 2016
Revenue
Service revenue	$ 91,619	$ 77,254	$ 61,608
Custodial revenue	87,160	59,593	37,755
Interchange revenue	50,746	41,523	27,423
Total revenue	229,525	178,370	126,786
Cost of revenue
Service costs	70,426	51,868	39,418
Custodial costs	11,400	9,767	6,522
Interchange costs	12,783	10,380	8,248
Total cost of revenue	94,609	72,015	54,188
Gross profit	134,916	106,355	72,598
Operating expenses
Sales and marketing	23,139	18,320	13,302
Technology and development	27,385	22,375	16,832
General and administrative	25,111	20,151	14,113
Amortization of acquired intangible assets	4,863	4,297	2,208
Total operating expenses	80,498	65,143	46,455
Income from operations	54,418	41,212	26,143
Other expense
Other expense, net	(2,229)	(1,092)	(589)
Total other expense	(2,229)	(1,092)	(589)
Income before income taxes	52,189	40,120	25,554
Income tax provision	4,827	13,744	8,941
Net income	$ 47,362	$ 26,376	$ 16,613
Net income per share:
Basic (dollars per share)	$ 0.79	$ 0.45	$ 0.29
Diluted (dollars per share)	$ 0.77	$ 0.44	$ 0.28
Weighted-average number of shares used in computing net income per share:
Basic (shares)	60,304	58,615	56,719
Diluted (shares)	61,854	59,894	58,863
Comprehensive income:
Net income	$ 47,362	$ 26,376	$ 16,613
Other comprehensive loss:
Unrealized loss on available-for-sale marketable securities, net of tax	(59)	(67)	(98)
Comprehensive income	$ 47,303	$ 26,309	$ 16,515

Consolidated Statements of Stockholders' Equity - USD ($) shares in Thousands, $ in Thousands	Total	Common stock	Additional paid-in capital	Accumulated compre- hensive loss	Accumulated earnings (deficit)
Opening balance (shares) at Jan. 31, 2015		54,802
Opening balance at Jan. 31, 2015	$ 144,095	$ 5	$ 157,094	$ 0	$ (13,004)
Stockholders’ equity
Exercise of common stock (shares)	1,951	1,951
Exercise of 1,951 options at $0.98 per share	$ 1,915	$ 1	1,914
Issuance of common stock (shares)		973
Issuance of common stock	23,492		23,492
Stock-based compensation	5,883		5,883
Tax benefit on stock options exercised	11,557		11,557
Other comprehensive loss, net of tax	(98)			(98)
Net income	16,613				16,613
Ending balance (shares) at Jan. 31, 2016		57,726
Ending balance at Jan. 31, 2016	203,457	$ 6	199,940	(98)	3,609
Stockholders’ equity
Issuance of common stock (shares)		1,812
Issuance of common stock	7,142		7,142
Stock-based compensation	8,398		8,398
Tax benefit on stock options exercised	16,634		16,634
Other comprehensive loss, net of tax	(67)			(67)
Net income	26,376				26,376
Ending balance (shares) at Jan. 31, 2017		59,538
Ending balance at Jan. 31, 2017	261,940	$ 6	232,114	(165)	29,985
Stockholders’ equity
Cumulative effect from adoption of accounting standard update \| Accounting Standards Update 2016-09	8,157		249		7,908
Cumulative effect from adoption of accounting standard update \| Accounting Standards Update 2018-02	$ 0			(45)	45
Exercise of common stock (shares)	1,272
Issuance of common stock (shares)		1,287
Issuance of common stock	$ 14,564		14,564
Stock-based compensation	14,310		14,310
Other comprehensive loss, net of tax	(59)			(59)
Net income	47,362				47,362
Ending balance (shares) at Jan. 31, 2018		60,825
Ending balance at Jan. 31, 2018	$ 346,274	$ 6	$ 261,237	$ (269)	$ 85,300

Consolidated Statements of Stockholders' Equity (Parenthetical) - $ / shares shares in Thousands	12 Months Ended
	Jan. 31, 2018	Jan. 31, 2016
Statement of Stockholders' Equity [Abstract]
Number of shares exercised (shares)	1,272	1,951
Options, exercise price (dollars per share)	$ 11.45	$ 0.98

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Jan. 31, 2018	Jan. 31, 2017	Jan. 31, 2016
Cash flows from operating activities:
Net income	$ 47,362	$ 26,376	$ 16,613
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	15,952	13,186	8,601
Deferred taxes	4,306	(2,891)	(2,178)
Stock-based compensation	14,310	8,398	5,883
Bad debt expense	133	35	24
Amortization of deferred financing costs and loss on other investments	87	68	23
Changes in operating assets and liabilities:
Accounts receivable	(4,734)	(2,728)	(5,174)
Inventories	377	28	5
Other assets	(760)	(1,343)	(107)
Accounts payable	(581)	567	1,011
Accrued compensation	3,827	946	2,475
Accrued liabilities	484	1,729	(383)
Other long-term liabilities	939	1,220	(252)
Net cash provided by operating activities	81,702	45,591	26,541
Cash flows from investing activities:
Purchase of marketable securities	(483)	(379)	(40,291)
Purchase of property and equipment	(5,458)	(3,645)	(2,376)
Purchase of software and capitalized software development costs	(10,380)	(9,030)	(6,896)
Acquisition of intangible member assets	(17,545)	0	(40,489)
Acquisition of a business	(2,882)	0	0
Purchases of other investments	0	0	(500)
Net cash used in investing activities	(36,748)	(13,054)	(90,552)
Cash flows from financing activities:
Proceeds from follow-on offering, net of payments for offering costs	0	0	23,492
Proceeds from exercise of common stock options	14,564	7,142	1,915
Tax benefit from exercise of common stock options	0	16,634	11,557
Deferred financing costs paid	0	0	(317)
Net cash provided by financing activities	14,564	23,776	36,647
Increase (decrease) in cash and cash equivalents	59,518	56,313	(27,364)
Beginning cash and cash equivalents	139,954	83,641	111,005
Ending cash and cash equivalents	199,472	139,954	83,641
Supplemental cash flow data:
Interest expense paid in cash	(203)	(213)	(51)
Income taxes paid in cash, net of refunds received	27	863	1,356
Supplemental disclosures of non-cash investing and financing activities:
Purchase price adjustment of acquired intangible members assets	0	0	104
Purchases of property and equipment included in accounts payable or accrued liabilities at period end	0	25	45
Customer relationships
Supplemental disclosures of non-cash investing and financing activities:
Purchases of intangible assets	1,409	0	0
Computer Software, Intangible Asset
Supplemental disclosures of non-cash investing and financing activities:
Purchases of intangible assets	$ 3	$ 330	$ 127

Summary of business and significant accounting policies

12 Months Ended

Jan. 31, 2018

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Summary of business and significant accounting policies

HealthEquity, Inc. was incorporated in the state of Delaware on September 18, 2002, and was organized to offer a full range of innovative solutions for managing health care accounts (Health Savings Accounts ("HSAs"), Health Reimbursement Arrangements ("HRAs"), and Flexible Spending Accounts ("FSAs")) for health plans, insurance companies, and third-party administrators.

In February 2006, HealthEquity, Inc. received designation by the U.S. Department of Treasury to act as a passive non-bank custodian, which allows HealthEquity, Inc. to hold custodial assets for individual account holders. On July 24, 2017, HealthEquity, Inc. received designation by the U.S. Department of Treasury to act as both a passive and non-passive non-bank custodian, which allows HealthEquity, Inc. to hold custodial assets for individual account holders and use discretion to direct investment of such assets held. As a passive and non-passive non-bank custodian according to Treasury Regulations section 1.408-2(e)(5)(ii)(B), the Company must maintain net worth (assets minus liabilities) greater than 2% of passive custodial funds held at each calendar year-end and 4% of the non-passive custodial funds held at each calendar year-end in order to take on additional custodial assets.

The accompanying financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America, or GAAP, which contemplates the realization of assets and satisfaction of liabilities in the normal course of business. The financial statements and notes are representations of the Company's management, which is responsible for their integrity and objectivity. These accounting policies conform to accounting principles generally accepted in the United States of America and have been consistently applied in the preparation of the consolidated financial statements, except for the new accounting pronouncements, which were adopted during the year ended January 31, 2018 as described below.

Certain reclassifications have been made to prior year amounts to conform to the current year presentation.

Principles of consolidation—The consolidated financial statements include the accounts of HealthEquity, Inc. and its wholly owned subsidiaries, HealthEquity Trust Company, HEQ Insurance Services, Inc., HealthEquity Advisors, LLC and HealthEquity Retirement Services, LLC (collectively referred to as the "Company").

During the year ended January 31, 2015, the Company and an unrelated company formed a limited partnership for investment in and the management of early stage companies in the healthcare industry. The Company has a 22% ownership interest in such partnership that is accounted for using the equity method of accounting. The investment was approximately $206,000 as of January 31, 2018 and is included in other assets on the accompanying consolidated balance sheets.

During the year ended January 31, 2016, the Company purchased an approximate 2% ownership interest in a limited partnership that engages in the development of technology-based financial healthcare products. The Company determined there was no significant influence and therefore the investment was accounted for using the cost method of accounting. Under the cost method of accounting, the fair value of an investment is not estimated if there are no identified events or changes in circumstances that may have a significant adverse effect on the fair value of the investment. The investment was $500,000 as of January 31, 2018 and is included in other assets on the accompanying consolidated balance sheet.

During the year ended January 31, 2017, the Company formed HealthEquity Trust Company, a Wyoming corporation and non-depository trust company, to act as the master custodian of all investment assets held in HSAs administered by the Company.

During the year ended January 31, 2018, the Company formed HealthEquity Retirement Services, LLC, a Delaware limited liability company, to acquire and own the assets of BenefitGuard LLC and provide ERISA plan fiduciary services.

All significant intercompany balances and transactions have been eliminated.

Segments—The Company operates in one segment. Management uses one measurement of profitability and does not segregate its business for internal reporting. All long-lived assets are maintained in the United States of America.

Cash, cash equivalents—The Company considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents. The Company’s cash and cash equivalents were held in institutions in the U.S. and include deposits in a money market account that was unrestricted as to withdrawal or use.

Marketable securities—Marketable securities consist primarily of mutual funds invested in corporate bonds, U.S. government agency securities, U.S. treasury bills, commercial paper, certificates of deposit, municipal notes, and bonds with original maturities beyond three months at the time of purchase. Marketable securities are classified as available-for-sale, held-to-maturity, or trading at the date of purchase. As of January 31, 2018, all marketable securities have been classified as available-for-sale. The Company may sell these securities at any time for use in current operations or for other purposes even if they have not yet reached maturity. As a result, the Company classifies its marketable securities, including securities with maturities beyond twelve months, as current assets in the accompanying consolidated balance sheets. All marketable securities are recorded at their estimated fair value. Unrealized gains and losses for available-for-sale securities are recorded in other comprehensive income, net of the related tax effect. The Company evaluates its marketable securities to assess whether those with unrealized loss positions are other-than-temporarily impaired. The Company considers impairments to be other than temporary if they are related to deterioration in credit risk or if it is likely it will sell the securities before the recovery of their cost basis. Realized gains and losses and declines in value judged to be other-than-temporary are determined based on the specific identification method and are reported in other expense, net in the consolidated statements of operations and comprehensive income.

Accounts receivable—Accounts receivable represent monies due to the Company for monthly service revenue, custodial revenue and interchange revenue. As of January 31, 2018, accounts receivable consisted of $7.9 million of service revenue, $9.0 million of custodial revenue, and $4.7 million of interchange revenue. The Company maintains an allowance for doubtful accounts to reserve for potentially uncollectible receivable amounts. In evaluating the Company’s ability to collect outstanding receivable balances, the Company considers various factors including the age of the balance, the creditworthiness of the customer, which is assessed based on ongoing credit evaluations and payment history, and the customer’s current financial condition. As of January 31, 2018 and 2017, the Company had allowance for doubtful accounts of $208,000 and $75,000, respectively.

Inventories—Inventories consist of new member and participant supplies and are recorded at the lower of cost or market using an average cost basis.

Other assets—Other assets consist primarily of prepaid expenditures, income tax receivables, and various other assets. Amounts expected to be recouped or recognized over a period of twelve months or less have been classified as current in the accompanying consolidated balance sheets.

Property and equipment—Property and equipment, including leasehold improvements, are stated at cost less accumulated depreciation. Depreciation is determined using the straight-line method over the estimated useful lives of individual assets. The useful life for leasehold improvements is the shorter of the estimated useful life or the term of the lease ranging from 3-5 years. The useful life used for computing depreciation for all other asset classes is described below:



Computer Equipment	3-5 years
Furniture and Fixtures	5 years

Maintenance and repairs are expensed when incurred, and improvements that extend the economic useful life of an asset are capitalized. Gains and losses on the disposal of property and equipment are reflected in operating expenses.

Capitalized software development costs—We account for the costs of computer software developed or obtained for internal use in accordance with Accounting Standards Codification (“ASC”) 350-40, “Internal-Use Software.” Costs incurred during operation and post-implementation stages are charged to expense. Costs incurred that are directly attributable to developing or obtaining software for internal use incurred in the application development stage are capitalized. Management’s judgment is required in determining the point when various projects enter the stages at which costs may be capitalized, in assessing the ongoing value of the capitalized costs and in determining the estimated useful lives over which the costs are amortized. See Note 5—Intangible Assets and Goodwill for additional information.

Intangible assets, net—Intangible assets are carried at cost and amortized, typically, on a straight-line basis over their estimated useful lives, which is 3-5 years for capitalized software development costs and acquired technology rights, 10 years for 401(k) customer relationships, or other intangible assets, and 15 years for certain acquired HSA intangible member assets. The acquired intangible member assets are the result of various acquisitions of HSA portfolios. A significant portion of the purchase price from each acquisition has been allocated to the acquired HSA assets, which consists of the contractual rights to administer the activities related to the individual health savings accounts acquired. The Company analyzed the historical attrition and depletion rates of member accounts and determined that an average useful life of 15 years and the use of a straight-line amortization method are appropriate to reflect the pattern over which the economic benefits of existing member assets are realized. The Company reviews identifiable amortizable intangible assets to be held and used for impairment whenever events or changes in circumstances indicate that the carrying value of the assets may not be recoverable. Determination of recoverability is based on the lowest level of identifiable estimated undiscounted cash flows resulting from use of the asset and its eventual disposition. Measurement of any impairment loss is based on the excess of the carrying value of the asset over its fair value. There have been no impairment charges recorded in any of the periods presented in the accompanying consolidated financial statements. See Note 5—Intangible Assets and Goodwill for additional information.

Goodwill—Goodwill represents the excess of the purchase price over the fair value of the net tangible and intangible assets acquired in a business combination. Goodwill is not amortized, but is tested for impairment annually on January 31 or more frequently if events or changes in circumstances indicate that the asset may be impaired. The Company’s impairment tests are based on a single operating segment and reporting unit structure. The goodwill impairment test involves a two-step process. The first step involves comparing the Company's market capitalization to the carrying value of the reporting unit, including goodwill. If the carrying value of the reporting unit exceeds its fair value, the second step of the test is performed by comparing the carrying value of the goodwill in the reporting unit to its implied fair value. An impairment charge is recognized for the excess of the carrying value of goodwill over its implied fair value.

The Company’s annual goodwill impairment test resulted in no impairment charges in any of the periods presented in the accompanying consolidated financial statements.

Self insurance—The Company is self-insured for medical insurance up to certain annual stop-loss limits. The Company establishes a liability as of the balance sheet date for claims, both reported and incurred but not reported, using currently available information as well as historical claims experience, and as determined by an independent third party.

Other long-term liabilities—The Company recognizes rental expense for its office lease on a straight-line basis over the lease term. Other long-term liabilities includes deferred rent, which represents the difference between actual operating lease payments due and straight-line rent expense. The excess is recorded as a deferred credit in the early periods of the lease, when cash payments are generally lower than straight-line rent expense, and is reduced in the later periods of the lease when payments begin to exceed the straight-line expense.

Follow-on offering—On May 11, 2015, the Company closed its follow-on public offering and sold 972,500 shares of common stock at a public offering price of $25.90 per share, less the underwriters' discount. Certain selling stockholders sold 3,455,000 shares of common stock in the offering, including 380,000 shares of common stock which were issued upon the exercise of outstanding options. The Company received net proceeds of approximately $23.5 million after deducting underwriting discounts and commissions of approximately $1.0 million and other offering expenses payable by the Company of approximately $688,000. The Company did not receive any proceeds from the sale of shares by the selling stockholders other than $222,000 representing the exercise price of the options that were exercised in connection with the offering.

Capital structure—On July 14, 2014, the Company's board of directors approved an amended and restated certificate of incorporation, pursuant to which the total number of shares of all classes of capital stock that the Company is authorized to issue is 1,000,000,000 shares, including 900,000,000 shares of common stock and 100,000,000 shares of preferred stock, par value $0.0001 per share. The amended and restated certificate of incorporation was filed with the Secretary of State of the State of Delaware and became effective on August 5, 2014 in connection with the completion of the initial public offering.

Revenue recognition—The Company recognizes revenue when persuasive evidence of an arrangement exists, services have been provided, the price of services is fixed or determinable, and collection is reasonably assured. The Company earns revenue primarily from service revenue, custodial revenue, interchange revenue.

The Company earns service revenue from the fees paid by health plan partners, employer partners or individual members for administration services provided in connection with the tax-advantaged HSAs, HRAs and FSAs the Company administers. These fees are generally based on a tiered structure fixed for the duration of the contract agreement with health plan or employer partners, which is typically three to five years. The fees are paid on a monthly basis and revenue is recognized monthly as services are rendered under the Company’s written service agreements. In addition, the Company earns service revenue from fees paid by employer partners and plan participants in connection with plan administrator and named fiduciary services for 401(k) employer sponsors. The fees are paid on a quarterly basis and revenue is recognized in the month in which it is earned.

The Company earns custodial revenue from HSA custodial assets on behalf of its customers. As a non-bank custodian, the Company deposits HSA cash with various custodial financial institutions having contract terms from three to five years and either a fixed or variable interest rate. These deposits are eligible for FDIC insurance for each individual HSA. The Company also invests HSA cash in an annuity contract with a insurance company partner. HSA investment balances are deposited with the custodial investment partner from whom the Company receives an administrative and recordkeeping fee. The Company recognizes this revenue in the month in which it is earned.

The Company earns interchange revenue from card transactions when members are paying their healthcare claims using a card issued by the Company. The Company recognizes this revenue in the month in which it is earned. Amounts collected in excess of revenue recognized for the period are recorded as deferred revenue and reported as accrued liabilities and other long-term liabilities on the consolidated balance sheet.

Cost of revenue—The Company incurs cost of revenue related to servicing member accounts, managing customer and partner relationships, and processing reimbursement claims. Expenditures include personnel-related costs, depreciation, amortization, stock-based compensation, common expense allocations, new member and participant supplies and other operating costs of the Company’s related member account servicing departments. Other components of the Company’s cost of revenue sold include interest retained by members on custodial assets held and interchange costs incurred in connection with processing card transactions initiated by members.

Stock-based compensation—For stock options granted to team members, the Company recognizes compensation expense for all stock-based awards based on the grant date estimated fair value. The value of the portion of the award that is ultimately expected to vest is recognized as expense ratably over the requisite service period. The fair value of stock options is determined using the Black-Scholes option pricing model. The determination of fair value for stock-based awards on the date of grant using an option pricing model requires management to make certain assumptions regarding a number of complex and subjective variables.

Stock-based compensation expense related to stock options granted to non-team members is recognized based on the fair value of the stock options, determined using the Black-Scholes option pricing model, as they are earned. The awards generally vest over the time period the Company expects to receive services from the non-employee.

For awards with performance conditions, we evaluate the probability of achieving the performance criteria and of the number of shares that are expected to vest, and compensation expense is then adjusted to reflect the number of shares expected to vest and the requisite service period. For awards with performance conditions, compensation expense is recognized using the graded-vesting attribution method in accordance with the provisions of FASB ASC Topic 718, Compensation—Stock Compensation ("Topic 718").

Upon the exercise of a stock option, common shares are issued from authorized, but not outstanding, common stock.

Stock-based compensation expense related to restricted stock units is recognized based on the current value of the Company's closing stock price on the date of grant less the present value of future expected dividends discounted at the risk-free interest rate. Expense for restricted stock units is recognized on a straight-line basis over the requisite service period.

Income tax provision—The Company accounts for income taxes and the related accounts under the liability method as set forth in the authoritative guidance for accounting for income taxes. Under this method, current tax liabilities and assets are recognized for the estimated taxes payable or refundable on the tax returns for the current fiscal year. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases, for net operating losses, and for tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted statutory tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be realized or settled. The effect on deferred tax assets and liabilities of changes in tax rates is recognized in income in the period that includes the enactment date.

A valuation allowance is provided for when it is more likely than not that some or all of the deferred tax assets may not be realized in future years. After weighing both the positive and negative evidence, the Company believes that it is more likely than not that all deferred tax assets will be realized as of January 31, 2018.

The Company uses the tax law ordering approach of intraperiod allocation in determining when excess tax benefits have been realized for provisions of the tax law that identify the sequence in which those amounts are utilized for tax purposes.The Company has also elected to exclude the indirect tax effects of share-based compensation deductions in computing the income tax provision recorded within the Consolidated Statement of Operations and Comprehensive Income. Also, we use the portfolio approach in releasing income tax effects from accumulated other comprehensive income.

The Company recognizes the tax benefit from an uncertain tax position taken or expected to be taken in a tax return using a two-step approach. The first step is to evaluate the tax position taken or expected to be taken in a tax return by determining if the weight of available evidence indicates that it is more likely than not that the tax position will be sustained upon examination by the relevant taxing authorities, based on the technical merits of the position. For tax positions that are more likely than not to be sustained upon audit, the second step is to measure the tax benefit in the financial statements as the largest benefit that has a greater than 50% likelihood of being sustained upon settlement. The Company recognizes interest and penalties, if any, related to unrecognized tax benefits as a component of other expense in the Consolidated Statements of Operations and Comprehensive Income. Significant judgment is required to evaluate uncertain tax positions. Changes in facts and circumstances could have a material impact on the Company’s effective tax rate and results of operations.

Comprehensive income—Comprehensive income is defined as a change in equity of a business enterprise during a period, resulting from transactions from non-owner sources, including unrealized gains and losses on marketable securities.

Asset acquisitions—During the years ended January 31, 2018, the Company acquired the rights to be the custodian of two HSA portfolios and rights to act as sole administrator of one portfolio. During the year ended January 31, 2016, the Company acquired the rights to be the custodian of two HSA portfolios. The purchased group of assets for the transactions did not include workforce or any processes and therefore did not constitute a business. Accordingly, the acquisitions were accounted for under the asset acquisition method of accounting in accordance with ASC 805-50, Business Combinations—Related Issues. Under the asset acquisition method of accounting, the Company is required to fair value the assets transferred. The cost of the assets acquired is allocated to the individual assets acquired based on their relative fair values and does not give rise to goodwill. The purchase price was allocated to acquired intangible member assets. Furthermore, transaction costs that are incurred in conjunction with an asset acquisition are allocated to the acquired intangible member assets.

Business combinations—Acquisition-related expenses incurred in conjunction with the acquisition of a business as defined by ASC 805-10 are recognized in earnings in the period in which they are incurred and are included in other expense, net on the consolidated statement of operations. During the years ended January 31, 2018, 2017 and 2016, the Company incurred an expense of $2.2 million, $631,000, and $471,000, respectively, for acquisition-related activity. There were no such business combinations during the years ended January 31, 2017 and 2016.

Concentration of market risk—The Company derives a substantial portion of its revenue from providing services for healthcare accounts. A significant downturn in this market or changes in state and/or federal laws impacting the preferential tax treatment of healthcare accounts could have a material adverse effect on the Company’s results of operations. For the years ended January 31, 2018, 2017 and 2016, no one customer accounted for greater than 10% of revenue or accounts receivable.

Concentration of credit risk—Financial instruments, which potentially subject the Company to concentrations of credit risk, consist primarily of cash. The Company maintains its cash and cash equivalents in bank and other depository accounts, which, at times, may exceed federally insured limits. The Company’s cash and cash equivalents held in banks as of January 31, 2018 was $199.5 million, of which $750,000 was covered by federal depository insurance. The Company has not experienced any losses in such accounts and believes it is not exposed to any significant credit risk on cash. The Company’s accounts receivable balance as of January 31, 2018 was $21.6 million. The Company has not experienced any significant write-offs to accounts receivable and believes that it is not exposed to significant credit risk with respect to accounts receivable.

Interest rate risk—The Company has entered into depository agreements with financial institutions for its custodial cash deposits. The contracted interest rates were negotiated at the time the depository agreements were executed. A significant reduction in prevailing interest rates may make it difficult for the Company to continue to place custodial deposits at the current contracted rates.

Use of estimates—The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Management has made estimates for the allowance for doubtful accounts, capitalized software development costs, evaluating goodwill and long-lived assets for impairment, useful lives of property and equipment and intangible assets, accrued compensation, accrued liabilities, grant date fair value of stock options and income taxes. Actual results could differ from those estimates.

Recent adopted accounting pronouncements—In February 2018, the Financial Accounting Standards Board (the "FASB") issued Accounting Standards Update ("ASU") 2018-02, Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income, which gives companies the option to reclassify between accumulated other comprehensive income ("AOCI") and retained earnings the income tax rate differential that has become stranded in AOCI as a result of the enactment of the Tax Cuts and Jobs Act and the revaluation of certain deferred tax assets and liabilities at the new federal income tax rate of 21%. This ASU is effective for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years. Early adoption is permitted. The Company has elected to early adopt this ASU in the fourth quarter of fiscal year 2018. As a result of adopting this standard, the reclassification of the income tax effects of this tax reform resulted in an increase to retained earnings and a decrease to AOCI in the amount of $45,000 related to the decrease in the federal corporate tax rate. The Company's policy is to use the portfolio approach in releasing income tax effects from AOCI.

In March 2016, the FASB issued ASU 2016-09, Improvements to Employee Share-Based Payment Accounting. This ASU requires excess tax benefits and tax deficiencies to be recognized in the Statement of Operations and Comprehensive Income, which were previously presented as a component of stockholders' equity, on a prospective basis. In addition, any excess tax benefits that were not previously recognized because the related tax deduction had not reduced current taxes payable are to be recorded on a modified retrospective basis through a cumulative-effect adjustment to retained earnings. This ASU also requires cash flows related to excess tax benefits to be classified as an operating activity on the statement of cash flows prospectively. Finally, this ASU no longer allows tax benefits to be included in the assumed proceeds when applying the treasury stock method for computing diluted weighted-average common shares outstanding, which results in share-based awards having a more dilutive effect on net income per diluted share.

The Company adopted this ASU during the three months ended April 30, 2017. As required by the standard, excess tax benefits recognized on stock-based compensation expense are reflected in our consolidated statements of operations and comprehensive income as a component of the provision for income taxes rather than additional paid-in capital on a prospective basis. For the year ended January 31, 2018, the Company recorded excess tax benefits of $14.1 million within our provision for income taxes in the consolidated statements of operations and comprehensive income. In addition, any excess tax benefits that were not previously recognized because the related tax deduction had not reduced current taxes payable are to be recorded on a modified retrospective basis through a cumulative-effect adjustment to retained earnings as of the beginning of the period of adoption, which resulted in an increase of $8.1 million to our retained earnings as of February 1, 2017.

For presentation requirements, the Company elected to prospectively apply the change in the presentation of excess tax benefits wherein excess tax benefits recognized on stock-based compensation are classified as operating activities on the consolidated statements of cash flows for year ended January 31, 2018. Prior period classification of cash flows related to excess tax benefits were not adjusted. Further, the Company elected to adopt the forfeiture provisions of this ASU, which allows the Company to account for forfeitures as they occur. The adoption of the forfeiture provisions had no material impact on the consolidated financial statements.

In January 2017, the FASB issued ASU 2017-01, Business Combinations: Clarifying the Definition of a Business, which provides a more robust framework to use in determining when a set of assets and activities is a business. This ASU is effective for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. Early adoption is permitted. The new guidance is required to be applied on a prospective basis. The Company adopted this ASU during the three months ended July 31, 2017. The adoption had no material impact on the Company's consolidated financial statements.

Recent issued accounting pronouncements—On May 28, 2014, the FASB issued ASU 2014-09 and related subsequent amendments, Revenue from Contracts with Customers, which requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. This ASU will replace most existing revenue recognition guidance in GAAP when it becomes effective. In July 2015, the FASB voted to defer the effective date to fiscal years, and interim periods within those fiscal years, beginning after December 15, 2017. The standard permits the use of either the retrospective or cumulative effect transition method. The adoption of the preceding standard is not expected to have a material impact on the Company's revenue.

The Company expects to capitalize incremental contract acquisition costs, such as sales commissions included in sales and marketing expenses in the consolidated statement of operations, and amortize these costs over the average economic life of an HSA Member. The Company's current practice is to expense sales commissions when the member is added to the Company's platform. The Company expects the adoption to have a significant impact on its consolidated financial statements. The Company will use the cumulative effect transition method and does not plan to early adopt these pronouncements.

In January 2016, the FASB issued ASU 2016-01, Recognition and Measurement of Financial Assets and Liabilities. The amendments in this ASU revise an entity's accounting related to the classification and measurement of investments in equity securities and the presentation of certain fair value changes for financial liabilities measured at fair value. This ASU also amends certain disclosure requirements associated with the fair value of financial instruments. The amendments in this ASU are effective for annual periods, and interim periods within those annual periods, beginning after December 15, 2017. Early adoption is permitted for the presentation of certain fair value changes for financial liabilities measured at fair value. The Company does not plan to early adopt. The Company expects to recognize its unrealized holding gains and losses on its marketable securities in other expense, net on the consolidated statement of operations, rather than through other comprehensive income.

In February 2016, the FASB issued ASU No. 2016-02, Leases (ASC 842), which sets out the principles for the recognition, measurement, presentation and disclosure for both parties to a contract (i.e. lessees and lessors). ASC 842 supersedes the previous leases standard, ASC 840 leases. This ASU is effective for financial statements issued for reporting periods beginning after December 15, 2018 and requires a modified retrospective transition, and provides for certain practical expedients; early adoption is permitted. The Company does not plan to early adopt and is currently evaluating the potential effect of this ASU on the consolidated financial statements.

In June 2016, the FASB issued ASU 2016-13, Financial Instruments - Credit Losses: Measurement of Credit Losses on Financial Instruments, which requires financial assets measured at amortized cost be presented at the net amount expected to be collected. This ASU is effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. Early adoption is permitted. The Company does not plan to early adopt this ASU. The Company believes the adoption of this ASU will have an immaterial impact on its consolidated financial statements.

In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows (Topic 230), which provides guidance on the classification of certain cash receipts and cash payments. This ASU is effective for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. The Company believes the adoption of this ASU will not have a material impact on its consolidated financial statements.

In October 2016, the FASB issued ASU 2016-16, Income Taxes (Topic 740) - Intra-Entity Transfers of Assets Other Than Inventory, which updates the accounting for the income tax consequences of intra-entity transfers of assets other than inventory. This ASU is effective for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. The Company will adopt this ASU during the three months ended April 30, 2018 and believes the adoption of this ASU will have an immaterial impact on its consolidated financial statements.

In January 2017, the FASB issued ASU 2017-04, Simplifying the Test for Goodwill Impairment, which removes step two from the goodwill impairment test. As a result, an entity should perform its annual goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount and should recognize an impairment charge for the amount by which the carrying amount exceeds the reporting units' fair value. This ASU is effective for fiscal years beginning December 15, 2019, and interim periods within those fiscal years. Early adoption is permitted. The Company is currently evaluating the timing of adoption; however, it believes the adoption this ASU will not have a material impact on the Company's consolidated financial statements.

In May 2017, the FASB issued ASU 2017-09, Compensation—Stock Compensation (Topic 718): Scope of Modification Accounting, which provides guidance about changes to the terms or conditions of a share-based payment award. This ASU is effective for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. The standard should be applied prospectively to an award modified on or after the adoption date. The Company does not expect the adoption of this ASU to have a significant impact on its consolidated financial statements.

Net income per share

12 Months Ended

Jan. 31, 2018

Earnings Per Share [Abstract]

Net income per share

The following table sets forth the computation of basic and diluted net income per share:



(in thousands, except per share data)	Year ended January 31,
(in thousands, except per share data)	2018		2017		2016
Numerator (basic and diluted):
Net income	$	47,362	$	26,376	$	16,613
Denominator (basic):
Weighted-average common shares outstanding	60,304		58,615		56,719
Denominator (diluted):
Weighted-average common shares outstanding	60,304		58,615		56,719
Weighted-average dilutive effect of stock options and restricted stock units	1,550		1,279		2,144
Weighted-average common shares outstanding	61,854		59,894		58,863
Net income per share:
Basic	$	0.79	$	0.45	$	0.29
Diluted	$	0.77	$	0.44	$	0.28

For the years ended January 31, 2018, 2017 and 2016, approximately 602,000,1.4 million, and 791,000 shares, respectively, attributable to outstanding stock options and restricted stock units were excluded from the calculation of diluted earnings per share as their inclusion would have been anti-dilutive.

Cash, cash equivalents and marketable securities

12 Months Ended

Jan. 31, 2018

Investments, Debt and Equity Securities [Abstract]

Cash, cash equivalents and marketable securities

Cash, cash equivalents and marketable securities as of January 31, 2018 consisted of the following:



(in thousands)	Cost basis		Gross unrealized gains		Gross unrealized losses			Fair value
Cash and cash equivalents	$	199,472	$	—	$	—		$	199,472
Marketable securities:
Mutual funds	41,153		270		(626		)	40,797
Total cash, cash equivalents and marketable securities	$	240,625	$	270	$	(626	)	$	240,269

Cash, cash equivalents and marketable securities as of January 31, 2017 consisted of the following:



(in thousands)	Cost basis		Gross unrealized gains		Gross unrealized losses			Fair value
Cash and cash equivalents	$	139,954	$	—	$	—		$	139,954
Marketable securities:
Mutual funds	40,670		207		(472		)	40,405
Total cash, cash equivalents and marketable securities	$	180,624	$	207	$	(472	)	$	180,359

The following table summarizes the cost basis and fair value of the marketable securities by contractual maturity as of January 31, 2018:



(in thousands)	Cost basis		Fair value
One year or less	$	25,664	$	25,590
Over one year and less than five years	15,489		15,207
Total	$	41,153	$	40,797

Unrealized losses from marketable securities are primarily attributable to change in interest rates. The Company does not believe any remaining unrealized losses represent other-than-temporary impairments based on the Company's evaluation of available evidence as of January 31, 2018. As of January 31, 2018, marketable securities with an unrealized loss position for more than twelve consecutive months were as follows:



	Less than one year					Greater than one year
(in thousands)	Fair value		Unrealized losses			Fair value		Unrealized losses
Mutual funds	$	25,590	$	(243	)	$	15,207	$	(383	)

Property and equipment

12 Months Ended

Jan. 31, 2018

Property, Plant and Equipment [Abstract]

Property and equipment

Property and equipment consisted of the following as of January 31, 2018 and 2017:



(in thousands)	January 31, 2018			January 31, 2017
Leasehold improvements	$	2,292		$	860
Furniture and fixtures	4,785			3,129
Computer equipment	8,174			7,194
Property and equipment, gross	15,251			11,183
Accumulated depreciation	(7,415		)	(6,013		)
Property and equipment, net	$	7,836		$	5,170

Depreciation expense for the years ended January 31, 2018, 2017 and 2016 was $2.8 million, $2.0 million and $1.5 million, respectively.

Intangible assets and goodwill

12 Months Ended

Jan. 31, 2018

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible assets and goodwill

Asset acquisitions

During the year ended January 31, 2018, the Company acquired the right to act as custodian of a portfolio of HSA Members for $6.4 million. The cost, including transaction costs, was allocated to acquired intangible member assets as of January 31, 2018. The Company has determined the acquired intangible member assets to have a useful life of 15 years. The assets are being amortized using the straight-line amortization method, which has been determined appropriate to reflect the pattern over which the economic benefits of existing member assets are realized.

During the year ended January 31, 2018, the Company acquired the rights to be the sole administrator of a portfolio of HSA Members for $3.3 million.

During the year ended January 31, 2018, the Company acquired the right to act as custodian of a portfolio of HSA Members for $9.3 million, of which $8.0 million cash had been paid as of January 31, 2018. The remaining $1.3 million relates to a contingent payment that may be earned upon the achievement of certain targets. The cost, including transaction costs, was allocated to acquired intangible member assets. The Company has determined the acquired intangible member assets to have a useful life of 15 years. The assets are being amortized using the straight-line amortization method, which has been determined appropriate to reflect the pattern over which the economic benefits of existing member assets are realized.

During the year ended January 31, 2016, the Company acquired the rights to be custodian of the Bancorp and M&T HSA portfolios for $34.2 million and $6.2 million, respectively. The costs, including transaction costs, were allocated to acquired intangible member assets as of January 31, 2016. The Company has determined the acquired intangible member assets to have a useful life of 15 years. The assets are being amortized using the straight-line amortization method, which has been determined appropriate to reflect the pattern over which the economic benefits of existing member assets are realized.

Acquisition of a business

To increase its product offering, during the year ended January 31, 2018, the Company acquired the assets of BenefitGuard LLC, pursuant to a definitive asset purchase agreement, for a purchase price of $2.9 million cash. BenefitGuard LLC is a 401(k) provider that offers plan administrator and named fiduciary services for 401(k) employer sponsors. The Company accounted for the acquisition of assets of BenefitGuard LLC as an acquisition of a business under ASC 805. The preliminary purchase price allocation resulted in customer relationships, or other intangible assets, of $2.9 million. The Company has determined the other intangible assets to have a useful life of 10 years. The asset will be amortized using the straight-line amortization method, which has been determined appropriate to reflect the pattern over which the economic benefits will be realized. The financial impact of this acquisition, including pro forma financial results, was immaterial to the Company's consolidated statement of operations for the year ended January 31, 2018.

Software development

During the years ended January 31, 2018, 2017 and 2016, the Company capitalized software development costs of $8.1 million, $7.7 million and $5.6 million, respectively, related to significant enhancements and upgrades to its proprietary system.

Note 5. Intangible assets and goodwill (continued)

The gross carrying amount and associated accumulated amortization of intangible assets is as follows as of January 31, 2018 and January 31, 2017:



(in thousands)	January 31, 2018			January 31, 2017
Amortized intangible assets:
Capitalized software development costs	$	31,993		$	23,925
Software	8,863			7,041
Other intangible assets	2,882			—
Acquired intangible member assets	83,915			64,962
Intangible assets, gross	127,653			95,928
Accumulated amortization	(44,018		)	(30,908		)
Intangible assets, net	$	83,635		$	65,020

During the years ended January 31, 2018, 2017 and 2016, the Company expensed a total of $12.2 million, $10.0 million and $7.6 million, respectively, in software development costs primarily related to the post-implementation and operation stages of its proprietary software.

Amortization expense for the years ended January 31, 2018, 2017 and 2016 was $13.2 million, $11.2 million and $7.1 million, respectively. Estimated amortization expense for the years ending January 31 is as follows:



Year ending January 31, (in thousands)
2019	$	13,290
2020	10,821
2021	7,705
2022	6,011
2023	5,883
Thereafter	39,925
Total	$	83,635

All of the Company’s goodwill was generated from the acquisition of First Horizon MSaver, Inc. on August 11, 2011. There have been no changes to the goodwill carrying value during the years ended January 31, 2018 and 2017.

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

+ References + Details

Commitments and contingencies

12 Months Ended

Jan. 31, 2018

Commitments and Contingencies Disclosure [Abstract]

Commitments and contingencies

Property, colocation, equipment, and license agreements—The Company leases office space, data storage facilities, equipment and certain maintenance agreements under long-term, non-cancelable operating leases. Future minimum lease payments required under non-cancelable obligations as of January 31, 2018 are as follows:



Year ending January 31, (in thousands)	Office lease		Other agreements		Total
2019	$	3,904	$	2,312	$	6,216
2020	3,848		2,069		5,917
2021	4,096		2,134		6,230
2022	4,198		1,460		5,658
2023	4,303		4		4,307
Thereafter	17,034		—		17,034
Total	$	37,383	$	7,979	$	45,362

Office lease obligations—On May 15, 2015, the Company entered into a lease agreement to expand its headquarters in Draper, Utah. The lease provided for the new landlord to construct a building at their cost. The lease commenced upon the substantial completion and delivery of the building to the Company on July 1, 2016 and has an initial term of 129 months thereafter, with an option for the Company to extend the lease for two additional five-year periods. The Company is responsible for payment of taxes and operating expenses for its portion of the building, in addition to an annual base rent in the initial amount of approximately $1.0 million, with 2.5% annual increases. In conjunction with the aforementioned lease, the Company entered into an amended and restated lease agreement for its existing office space at its headquarters in Draper, Utah. The lease commenced on July 1, 2015 and has an initial term of 129 months thereafter, with an option for the Company to extend the lease for two additional five-year periods. The Company is responsible for payment of taxes and operating expenses for its portion of the building, in addition to an annual base rent in the initial amount of approximately $1.6 million, with 2.5% annual increases. As a result of the foregoing transaction, the deferred rent balance of approximately $470,000 was reversed during the year ended January 31, 2016.

On September 16, 2016, the Company entered into an amendment to its lease agreement, dated May 15, 2015, by and between the Company and its landlord to expand its current office space. The term of the lease commenced on July 1, 2016 and will expire on March 31, 2027. The Company is responsible for payment of taxes and operating expenses for its portion of the building, in addition to an annual base rent in the initial amount of approximately $569,000, with 2.5% annual increases.

On May 31, 2017, the Company entered into an amendment to its lease agreement, dated May 15, 2015, to expand its current office space. The term of the lease commenced on January 1, 2018 and will expire on March 31, 2027. The Company will be responsible for payment of taxes and operating expenses for its portion of the building, in addition to an annual base rent in the initial amount of approximately $513,000, with annual increases ranging from 2.5% to 3.1%.

Lease expense for office space for the years ended January 31, 2018, 2017 and 2016 totaled $4.3 million, $3.3 million and $2.1 million, respectively. Expense for other agreements for the years ended January 31, 2018, 2017 and 2016 totaled $460,000, $307,000 and $249,000, respectively.

Data storage and equipment lease obligations—The data storage and equipment leases relate to our offsite data storage facility and office equipment leases. All of these leases expire during the year ended January 31, 2020.

Telephony services—The telephony service agreement relates to our 24/7/365 member support center. The agreement expires in September 2019.

Processing services agreement—During the year ended January 31, 2016, the Company amended its merchant processing services agreement with a vendor. The agreement expires December 31, 2020 and requires the Company to pay a dollar minimum processing fee based on the processing year of the agreement. The Company may terminate the agreement beginning January 1, 2020 by providing 180 days’ written notice.

If the processing agreement is terminated prior to December 31, 2020, the Company is required to pay the vendor a termination fee, equal to 75% of the aggregate value of the minimum processing fees for the remaining years of the agreement, plus a portion of the account on-boarding incentive fee.

For each of the years ended January 31, 2018, 2017 and 2016, the Company exceeded the minimum amounts required under the agreement.

The Company has an agreement with an entity for access to its software. The agreement contains minimum required payments.

The Company also has agreements with several entities for access to technology and software. The agreements are based on usage, and there are no minimum required monthly payments.

Contingencies—In the normal course of business, the Company enters into contracts and agreements that contain a variety of representations and warranties and provide for general indemnifications. The Company’s exposure under these agreements is unknown because it involves claims that may be made against the Company in the future, but have not yet been made. The Company accrues a liability for such matters when it is probable that future expenditures will be made and such expenditures can be reasonably estimated.

Indemnification—In accordance with the Company’s amended and restated Certificate of Incorporation and amended and restated bylaws, the Company has indemnification obligations to its officers and directors for certain events or occurrences, subject to certain limits, while they are serving at the Company’s request in such capacity. There have been no claims to date and the Company has a director and officer insurance policy that may enable it to recover a portion of any amounts paid for future claims.

Litigation—The Company may from time to time be involved in legal proceedings arising from the normal course of business. There are no material pending or threatened legal proceedings as of January 31, 2018 and 2017.

Indebtedness	12 Months Ended
Indebtedness	Jan. 31, 2018
Debt Disclosure [Abstract]
Indebtedness	Indebtedness On September 30, 2015, the Company entered into a credit facility (the "Credit Agreement"). The Credit Agreement provides for a secured revolving credit facility in the aggregate principal amount of $100.0 million for a term of five years. The proceeds of borrowings under the Credit Agreement may be used for general corporate purposes. No amounts have been drawn under the Credit Agreement as of January 31, 2018. Borrowings under the Credit Agreement bear interest equal to, at the Company's option, a) an adjusted LIBOR rate or b) a customary base rate, in each case with an applicable spread to be determined based on the Company's leverage ratio as of the most recent fiscal quarter. The applicable spread for borrowing under the Credit Agreement will range from 1.50% to 2.00% with respect to adjusted LIBOR rate borrowings and 0.50% to 1.00% with respect to customary base rate borrowings. Additionally, the Company pays a commitment fee ranging from 0.20% to 0.30% on the daily amount of the unused commitments under the Credit Agreement payable in arrears at the end of each fiscal quarter. During the years ended January 31, 2018 and 2017, the Company incurred $274,000 and $275,000, respectively, of interest expense associated with the Credit Agreement. The Company's material subsidiaries are required to guarantee the obligations of the Company under the Credit Agreement. The obligations of the Company and the guarantors under the Credit Agreement and the guarantees are secured by substantially all assets of the Company and the guarantors, subject to customary exclusions and exceptions. The Credit Agreement requires the Company to maintain a total leverage ratio of not more than 3.00 to 1.00 as of the end of each fiscal quarter and a minimum interest coverage ratio of at least 3.00 to 1.00 as of the end of each fiscal quarter. In addition, the Credit Agreement includes customary representations and warranties, affirmative and negative covenants, and events of default. The restrictive covenants include customary restrictions on the Company's ability to incur additional indebtedness; make investments, loans or advances; grant or incur liens on assets; engage in mergers, consolidations, liquidations or dissolutions; engage in transactions with affiliates; and make dividend payments. The Company was in compliance with these covenants as of January 31, 2018. In connection with the Credit Agreement, the Company incurred $317,000 in financing costs, which are deferred and are being amortized using the straight-line method, which approximates the effective interest method, over the life of the agreement.

Income taxes

12 Months Ended

Jan. 31, 2018

Income Tax Disclosure [Abstract]

Income taxes

The Income tax provision consisted of the following:



	Year ended January 31,
(in thousands)	2018		2017			2016
Current:
Federal	$	392	$	14,848		$	9,876
State	130		1,823			1,226
Total current tax provision	$	522	$	16,671		$	11,102
Deferred:
Federal	$	4,068	$	(2,308	)	$	(1,772	)
State	237		(619		)	(389		)
Total deferred tax (benefit) provision	$	4,305	$	(2,927	)	$	(2,161	)
Total income tax provision	$	4,827	$	13,744		$	8,941

Total income tax provision differed from the amounts computed by applying the U.S. federal statutory income tax rate of 34% to income before income tax provision as a result of the following:



	Year ended January 31,
(in thousands)	2018			2017			2016
Federal income tax provision at the statutory rate	$	17,744		$	13,641		$	8,688
State income tax provision, net of federal tax benefit	1,241			742			541
Non-deductible or non-taxable items	143			87			56
Excess tax benefits on stock-based compensation expense, net	(14,136		)	—			—
Federal research and development credit	(729		)	(907		)	(371		)
Deferred tax rate adjustment due to tax reform	458			—			—
Current statutory rate differential due to tax reform	(308		)	—			—
Change in uncertain tax position reserves, net of indirect benefits	191			246			96
Other items, net	223			(65		)	(69		)
Total income tax provision	$	4,827		$	13,744		$	8,941

The Company's effective income tax rate for the years ended January 31, 2018, 2017 and 2016 was 9.2%, 34.3%, and 35.0%, respectively. The difference between the effective income tax rate and the U.S. federal statutory income tax rate each period is impacted by a number of factors, including the relative mix of earnings among state jurisdictions, credits, excess tax benefits or shortfalls on stock-based compensation expense due to the adoption of ASU 2016-09, and other discrete items. The decrease in the effective tax rate for the year ended January 31, 2018 compared to the year ended January 31, 2017 was primarily the result of excess tax benefits on stock-based compensation expense. The decrease in the effective tax rate for the year ended January 31, 2017 compared to the year ended January 31, 2016 was primarily the result of an increase in research and development credits.

The Tax Cuts and Jobs Act, which was enacted on December 22, 2017, includes a reduction of the statutory corporate income tax rate from a top rate of 35% to 21% effective January 1, 2018. The Company is subject to federal and state income taxes in the United States based on a calendar year which differs from its January fiscal year-end for financial reporting purposes. For purposes of reconciling the total income tax provision for the fiscal year, the Company applied a federal statutory rate of 34% for the entire fiscal year as this is the rate that applies for the tax year ending December 31, 2017 which comprises 11 months of the fiscal year. Because a 21% federal statutory rate applies for the one month ending January 31, 2018, a reconciling item has been included in the tax rate reconciliation table above to adjust for the statutory rate reduction that applies to this one-month period. This resulted in a reduction to the income tax provision of $308,000.

Given the significance of the Tax Cuts and Jobs Act, the U.S. Securities and Exchange Commission (the "SEC") staff issued Staff Accounting Bulletin ("SAB") No. 118 (“SAB 118”), which allows registrants to record provisional amounts during a one-year “measurement period” from the date of enactment date of the Tax Cuts and Jobs Act. The measurement period is deemed to have ended earlier when the registrant has obtained, prepared, and analyzed the information necessary to finalize its accounting. During the measurement period, impacts of the law are expected to be recorded at the time a reasonable estimate for all or a portion of the effects can be made, and provisional amounts can be recognized and adjusted as information becomes available, prepared, or analyzed.

SAB 118 summarizes a three-step process to be applied at each reporting period to account for and qualitatively disclose: (1) the effects of the change in tax law for which accounting is complete; (2) provisional amounts (or adjustments to provisional amounts) for the effects of the tax law where accounting is not complete, but that a reasonable estimate has been determined; and (3) a reasonable estimate cannot yet be made and therefore taxes are reflected in accordance with law prior to the enactment of the Tax Cuts and Jobs Act.

The Company remeasured certain deferred tax assets and liabilities as of December 31, 2017 based on rates at which they are expected to reverse in the future, which is generally the new corporate income tax rate of 21% as enacted by the Tax Cuts and Jobs Act. However, the Company's analysis is incomplete as we are still analyzing certain aspects of the Act and refining our calculations, including state conformity and the impact of state tax rates on deferred tax balances, which could potentially affect the measurement of these balances or potentially give rise to new deferred tax amounts. Based on the best information available, the provisional amount recorded related to the remeasurement of the Company's deferred tax balance resulted in a decrease in net deferred tax assets of $458,000, with a corresponding increase to the income tax provision during the year ending January 31, 2018. The Company will continue to make and refine its calculations as additional analysis is completed. In addition, the Company's estimates may also be affected as it gains a more thorough understanding of the enacted tax law changes and as additional future guidance on the effects of the Tax Cuts and Jobs Act is made available.

Other significant provisions of the Tax Cuts and Jobs Act are effective as of January 1, 2018, including, but not limited to: the limitation on the current deductibility of net interest expense in excess of 30% of adjusted taxable income, changes in the deductibility of certain meals and entertainment business expenses, and changes in the deductibility of certain excessive employee remuneration. The Company has applied these provisions to its current income tax provision as it relates to its tax return period beginning January 1, 2018 using reasonable interpretations and available guidance. Further guidance or technical corrections may affect the Company's estimates and the application of these provisions on its income tax provision.

Deferred tax assets and liabilities consisted of the following:



(in thousands)	January 31, 2018			January 31, 2017
Deferred tax assets:
Accrued bonuses	$	489		$	499
Other accrued liabilities	572			559
Deferred rent	520			364
Stock compensation	5,316			5,061
Net operating loss carryforward	666			84
Research and development credits	2,882			2,225
AMT credits	857			548
Other, net	286			449
Total gross deferred tax assets	$	11,588		$	9,789
Deferred tax liabilities:
Fixed assets: depreciation and gain/loss	$	(1,170	)	$	(902	)
Intangibles: amortization	(4,830		)	(7,252		)
Other, net	(127		)	(57		)
Total gross deferred tax liability	(6,127		)	(8,211		)
Net deferred tax asset	$	5,461		$	1,578

Management considered whether it is more likely than not that some portion or all of the deferred tax assets would be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. Management considered the scheduled reversal of deferred tax liabilities, projected future taxable income and tax planning strategies in making this assessment and determined that based on the weight of all available evidence, it is more likely than not (a likelihood of more than 50%) that the Company will be able to realize its deferred tax assets. Therefore, no valuation allowance was required as of January 31, 2018.

As of January 31, 2018, the Company had recorded gross federal and state net operating loss carryforwards of $2.6 million and $2.1 million, respectively, which begin to expire at various intervals between tax years ending December 31, 2025 and December 31, 2036. As of January 31, 2018, the Company also had federal and state research and development carryforwards of $2.6 million and $1.5 million, respectively, which expire beginning with the tax year ending December 31, 2019 and 2024, respectively, and federal and state alternative minimum tax credit carryforwards of $856,000 and $2,000, respectively. The state AMT credits do not expire. As a result of the Tax Cuts and Jobs Act, the federal alternative minimum tax was repealed. A provision was enacted which allows the Company to utilize or refund 100% of the remaining AMT credits no later than its tax year beginning in 2021. The Company expects to utilize its AMT credits against income tax in future periods; as a result, the credits have remained classified as deferred tax assets as of January 31, 2018.

As of January 31, 2018 and 2017, the gross unrecognized tax benefit was $889,000 and $674,000, respectively. If recognized, $811,000 and $572,000 of the total unrecognized tax benefits would affect the Company's effective tax rate as of January 31, 2018 and 2017, respectively. Total gross unrecognized tax benefits increased by $215,000 in the period from January 31, 2017 to January 31, 2018. A tabular reconciliation of the beginning and ending amount of gross unrecognized tax benefits is as follows:



(in thousands)	January 31, 2018		January 31, 2017
Gross unrecognized tax benefits at beginning of year	$	674	$	393
Gross amounts of increases and decreases:
Increases as a result of tax positions taken during a prior period	—		—
Decreases as a result of tax positions taken during a prior period	—		—
Increases as a result of tax positions taken during the current period	215		281
Decreases as a result of tax positions taken during the current period	—		—
Decreases resulting from the lapse of the applicable statute of limitations	—		—
Gross unrecognized tax benefits at end of year	$	889	$	674

Certain unrecognized tax benefits are required to be netted against their related deferred tax assets as a result of Accounting Standards Update No. 2013-11, Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists. The resulting unrecognized tax benefit recorded within the Company's consolidated balance sheet excludes the following amounts that have been netted against the related deferred tax assets accordingly:



(in thousands)	January 31, 2018			January 31, 2017
Total gross unrecognized tax benefits	$	889		$	674
Amounts netted against related deferred tax assets	(889		)	(674		)
Unrecognized tax benefits recorded on the consolidated balance sheet	$	—		$	—

The Company’s policy is to recognize interest and penalties related to unrecognized tax benefits as a component of other expense in the statement of operations. During the years ended January 31, 2018, 2017, and 2016, respectively, the Company recorded a decrease of $0, $0 and $8,000 in interest and penalties related to unrecognized tax benefits. As of January 31, 2018 and 2017, no accrued interest and penalties were recorded.

The Company files income tax returns with U.S. federal and state taxing jurisdictions and is not currently under examination with any jurisdiction. The Company remains subject to examination by federal and various state taxing jurisdictions for tax years after 2003.

Stock-based compensation

12 Months Ended

Jan. 31, 2018

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Stock-based compensation

The following table shows a summary of stock-based compensation in the Company's consolidated statements of operations and comprehensive income during the years presented:



	Year ended January 31,
(in thousands)	2018		2017		2016
Cost of revenue	$	2,594	$	1,780	$	1,088
Sales and marketing	2,030		914		903
Technology and development	3,318		1,903		1,014
General and administrative	6,368		3,801		2,878
Total stock-based compensation expense	$	14,310	$	8,398	$	5,883

Stock options

The Company currently grants stock options under the 2014 Equity Incentive Plan (as amended and restated, the "Incentive Plan"), which provided for the issuance of stock options to the directors and team members of the Company to purchase up to an aggregate of 2.6 million shares of common stock.

In addition, under the Incentive Plan, the number of shares of common stock reserved for issuance under the Incentive Plan automatically increases on February 1 of each year, beginning as of February 1, 2015 and continuing through and including February 1, 2024, by 3% of the total number of shares of the Company’s capital stock outstanding on January 31 of the preceding fiscal year, or a lesser number of shares determined by the board of directors. As of January 31, 2018, 1.8 million shares were available for grant under the Incentive Plan.

Under the terms of the Incentive Plan, the Company has the ability to grant incentive and nonqualified stock options. Incentive stock options may be granted only to Company team members. Nonqualified stock options may be granted to Company team members, directors and consultants. Such options are to be exercisable at prices, as determined by the board of directors, which must be equal to no less than the fair value of the Company's common stock at the date of the grant. Stock options granted under the Incentive Plan generally expire 10 years from the date of issuance, or are forfeited 90 days after termination of employment. Shares of common stock underlying stock options that are forfeited or that expire are returned to the Incentive Plan.

Valuation assumptions. The Company has adopted the provisions of Topic 718, which requires the measurement and recognition of compensation for all stock-based awards made to team members and directors, based on estimated fair values.

Under Topic 718, the Company uses the Black-Scholes option pricing model as the method of valuation for stock-based awards. The determination of the fair value of stock-based awards on the date of grant is affected by the fair value of the stock as well as assumptions regarding a number of complex and subjective variables. The variables include, but are not limited to, 1) the expected life of the option, 2) the expected volatility of the fair value of the Company's common stock over the term of the award estimated by averaging the published volatilities of a relative peer group, 3) risk-free interest rate, and 4) expected dividends.

The key input assumptions that were utilized in the valuation of the stock options granted during the years ended January 31, 2018, 2017 and 2016 are as follows:



	Year ended January 31,
	2018		2017		2016
Expected dividend yield	—	%	—	%	—	%
Expected stock price volatility	37.79% - 38.01%		38.01% - 38.37%		38.29% - 40.29%
Risk-free interest rate	1.18% - 2.07%		1.18% - 2.18%		1.47% - 1.80%
Expected life of options	4.50 - 6.25 years		4.50 - 6.25 years		5.43 - 6.25 years

Note 9. Stock-based compensation (continued)

The determination of the fair value of stock options on the date of grant using the Black-Scholes option pricing model is affected by the Company's stock price as well as assumptions regarding a number of complex and subjective variables. Expected volatility is determined using weighted average volatility of publicly traded peer companies. The Company expects that it will begin using its own historical volatility in addition to the volatility of publicly traded peer companies, as its share price history grows over time. The risk-free interest rate is determined by using published zero coupon rates on treasury notes for each grant date given the expected term on the options. The dividend yield of zero is based on the fact that the Company expects to invest cash in operations. The Company uses the "simplified" method to estimate expected term as determined under Staff Accounting Bulletin No. 110 due to the lack of option exercise history as a public company.

A summary of stock option activity is as follows:



	Outstanding stock options
(in thousands, except for exercise prices and term)	Number of options		Range of exercise prices	Weighted- average exercise price		Weighted- average contractual term (in years)	Aggregate intrinsic value
Outstanding as of January 31, 2017	4,716		$0.10 - 44.53	$	18.36	7.60	$	131,529
Granted	420		$41.28 - 51.44	$	42.72
Exercised	(1,272	)	$0.10 - 46.40	$	11.45
Forfeited	(165	)	$3.50 - 46.40	$	33.39
Outstanding as of January 31, 2018	3,699		$0.10 - 51.44	$	22.83	7.26	$	102,796
Vested and expected to vest as of January 31, 2018	3,699			$	22.83	7.26	$	102,796
Exercisable as of January 31, 2018	1,125			$	16.57	6.49	$	38,319

The aggregate intrinsic value in the tables above represents the difference between the estimated fair value of common stock and the exercise price of outstanding, in-the-money stock options.

A summary of stock options granted and exercised is as follows:



	Year ended January 31,
(in thousands, except weighted-average fair value)	2018		2017		2016
Stock options granted	420		1,399		1,093
Weighted-average fair value at date of grant	$	42.72	$	28.85	$	27.34
Total intrinsic value of stock options exercised	$	44,823	$	50,094	$	51,773

As of January 31, 2018 and 2017, 1.1 million and 1.5 million of all outstanding options were exercisable, respectively. The options are valued at their estimated fair market value as of the date of the grant.

As of January 31, 2018, the weighted-average vesting period of non-vested stock-options expected to vest approximates 2.0 years; the amount of compensation expense the Company expects to recognize for stock options vesting in future periods approximates $17.6 million.

Performance options. During the year ended January 31, 2015, the Company granted 1.5 million performance-based stock options, respectively, to certain key team members under the Incentive Plan, which vest upon the achievement of certain performance criteria. The performance-based stock options vest upon the attainment of the following performance criteria: (a) 10% of the stock options vest upon attainment of at least $34.5 million in Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization ("EBITDA") for the year ended January 31, 2016, (b) 20% of the stock options vest upon the attainment of an annual growth rate of Adjusted EBITDA per share of common stock of 30% for the year ended January 31, 2017, (c) 30% of the stock options vest upon the attainment of an annual growth rate of Adjusted EBITDA per share of common stock of 30% for the year ended January 31, 2018, and (d) 40% of the stock options vest upon the attainment of an annual growth rate of Adjusted EBITDA per share of common stock of 25% for the year ended January 31, 2019. During the year ended January 31, 2016, the

Note 9. Stock-based compensation (continued)

Company achieved the $34.5 million Adjusted EBITDA performance criteria and as such, 10% of the performance-based stock options outstanding as of January 31, 2016 became vested. During the year ended January 31, 2017, the Company achieved the annual growth rate of Adjusted EBITDA per share of common stock of 30% and as such 20% of the performance-based stock options outstanding as January 31, 2017 became vested. Subsequent to the year ended January 31, 2017, the two remaining vesting criteria were amended to vest based upon the attainment of a compound annual growth rate of Adjusted EBITDA per share of common stock of 35% as compared to the year ended January 31, 2016 Adjusted EBTIDA target of $34.5 million, or $0.61 per common share. During the year ended January 31, 2018, the Company achieved the third performance criteria and as such 30% of the performance-based stock options outstanding as of January 31, 2018 became vested.

During the years ended January 31, 2018, 2017 and 2016, the Company recorded compensation expense of $1.4 million, $1.7 million and $2.5 million, respectively, related to the performance-based options based on the Company's probability assessment of attaining its Adjusted EBITDA targets, and Adjusted EBITDA per common share growth rates.

Restricted stock units

The Company grants restricted stock units ("RSUs") to certain team members, officers, and directors under the 2014 Equity Incentive Plan. RSUs vest upon service-based criteria and performance-based criteria. Generally, service-based RSUs vest over a four-year period in equal annual installments commencing upon the first anniversary of the grant date. RSUs are valued based on the current value of the Company's closing stock price on the date of grant less the present value of future expected dividends discounted at the risk-free interest rate. Stock-based compensation expense related to RSUs, excluding PRSUs, for the years ended January 31, 2018 and 2017 was $3.3 million and $233,000, respectively.

Performance restricted stock units. In March 2017, the Company awarded 146,964 performance-based RSUs ("PRSUs") with an estimated grant date fair value of $6.1 million. Vesting of the PRSUs is dependent upon the achievement of certain financial criteria and cliff vest on January 31, 2020. The Company records stock-based compensation related to PRSUs when it is considered probable that the performance conditions will be met. The Company believes it is probably that the PRSUs will vest at least in part. The vesting of PRSUs will ultimately range from 0% to 150% of the number of shares underlying the PRSU grant based on the level of achievement of the performance goals. During the year ended January 31, 2018, the Company recorded compensation expense of $1.8 million related to PRSUs.

A summary of all restricted stock unit activity is as follows:



(in thousands, except weight-average grant date fair value)	Shares		Weighted-average grant date fair value
Unvested at January 31, 2017	10		$	26.93
Granted	468		44.61
Vested	(15	)	36.74
Forfeitures	(12	)	46.41
Unvested at January 31, 2018	451		$	44.10

Total unrecorded stock-based compensation expense as of January 31, 2018 associated with RSUs, including PRSUs, was $15.1 million, which is expected to be recognized over a weighted-average period of 2.9 years.

Fair value

12 Months Ended

Jan. 31, 2018

Fair Value Disclosures [Abstract]

Fair value

Fair value measurements—Fair value measurements are made at a specific point in time, based on relevant market information. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants at the measurement date. Accounting standards specify a hierarchy of valuation techniques based on whether the inputs to those valuation techniques are observable or unobservable. Observable inputs reflect data obtained from independent sources, while unobservable inputs reflect the Company’s market assumptions. These two types of inputs have created the following fair value hierarchy:


•	Level 1—quoted prices in active markets for identical assets or liabilities;


•	Level 2—inputs, other than the quoted prices in active markets, that are observable either directly or indirectly;


•	Level 3—unobservable inputs based on the Company’s own assumptions.

Level 1 instruments are valued based on publicly available daily net asset values. Level 1 instruments consist primarily of highly liquid mutual funds.

The following tables summarizes the assets measured at fair value on a recurring basis and indicates the level within the fair value hierarchy reflecting the valuation techniques utilized to determine fair value:



	January 31, 2018
(in thousands)	Level 1		Level 2		Level 3
Marketable securities:
Mutual funds	$	40,797	$	—	$	—



	January 31, 2017
(in thousands)	Level 1		Level 2		Level 3
Marketable securities:
Mutual funds	$	40,405	$	—	$	—

The carrying value of financial instruments including cash and cash equivalents and certain non-trade receivables approximate fair values as of January 31, 2018 due to the short-term nature of these instruments. The Company has classified cash and cash equivalents as Level 1 and certain non-trade receivables as Level 2 in the fair value hierarchy.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Employee benefits	12 Months Ended
Employee benefits	Jan. 31, 2018
Retirement Benefits [Abstract]
Employee benefits	Employee benefits The Company has established a 401(k) plan that qualifies as a deferred compensation arrangement under Section 401 of the IRS Code. All team members over the age of 21 are eligible to participate in the plan. The plan provides for Company matching of employee contributions up to 3.5% of eligible earnings. Employer contributions vest 25% each year of employment. 401(k) plan administrative expense was $25,000, $15,000 and $16,000 for the years ended January 31, 2018, 2017 and 2016, respectively. Employer matching contribution expense was $1.4 million, $916,000 and $626,000 for the years ended January 31, 2018, 2017 and 2016, respectively. Beginning on January 1, 2017, the Company is self-insured for medical and dental benefits for all qualifying employees. The medical plan carries a stop-loss policy which will protect from individual claims during the plan year exceeding $110,000. The Company records estimates of costs of claims incurred based on an analysis of historical data and independent estimates. The Company's liability for self-insured medical claims is included in accrued compensation in its consolidated balance sheet and was $1.7 million as of January 31, 2018.

Supplementary quarterly financial data (unaudited)

12 Months Ended

Jan. 31, 2018

Quarterly Financial Information Disclosure [Abstract]

Supplementary quarterly financial data (unaudited)



	Three months ended
(in thousands, except for per share amounts)	January 31, 2018			October 31, 2017			July 31, 2017			April 30, 2017
Total revenue	$	60,436		$	56,789		$	56,879		$	55,421
Total cost of revenue	28,790			23,062			21,077			21,680
Gross profit	31,646			33,727			35,802			33,741
Total operating expenses	23,212			20,165			19,307			17,814
Total other expense	(1,706		)	(395		)	(38		)	(90		)
Income tax provision (benefit)	823			2,685			(489		)	1,808
Net income	$	5,905		$	10,482		$	16,946		$	14,029
Net income per share:
Basic ⁽¹⁾	$	0.10		$	0.17		$	0.28		$	0.23
Diluted ⁽¹⁾	$	0.09		$	0.17		$	0.27		$	0.23

	Three months ended
(in thousands, except for per share amounts)	January 31, 2017			October 31, 2016			July 31, 2016			April 30, 2016
Total revenue	$	46,814		$	43,358		$	44,185		$	44,013
Total cost of revenue	22,585			17,467			15,631			16,332
Gross profit	24,229			25,891			28,554			27,681
Total operating expenses	18,048			16,849			15,815			14,431
Total other expense	(158		)	(256		)	(37		)	(641		)
Income tax provision	1,961			2,778			4,469			4,536
Net income	$	4,062		$	6,008		$	8,233		$	8,073
Net income per share:
Basic	$	0.07		$	0.10		$	0.14		$	0.14
Diluted ⁽¹⁾	$	0.07		$	0.10		$	0.14		$	0.14

(1) Net income per share amounts do not sum to equal full year total due to changes in the number of shares outstanding during the periods and rounding.

Summary of business and significant accounting policies (Policies)

12 Months Ended

Jan. 31, 2018

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Principles of consolidation

All significant intercompany balances and transactions have been eliminated.

Segments

Cash, cash equivalents and restricted cash

Marketable securities

Accounts receivable

Inventories

Inventories—Inventories consist of new member and participant supplies and are recorded at the lower of cost or market using an average cost basis.

Other assets

Property and equipment



Computer Equipment	3-5 years
Furniture and Fixtures	5 years

Capitalized software development costs

Intangible assets, net

Goodwill

The Company’s annual goodwill impairment test resulted in no impairment charges in any of the periods presented in the accompanying consolidated financial statements.

Self insurance

Other long-term liabilities

Revenue recognition

Cost of revenue

Stock-based compensation

Upon the exercise of a stock option, common shares are issued from authorized, but not outstanding, common stock.

Income tax provision

Comprehensive income

Asset acquisitions and Business combinations

Concentration of market risk

Concentration of credit risk

Interest rate risk

Use of estimates

Recent adopted and issued accounting pronouncements

Summary of business and significant accounting policies (Tables)

12 Months Ended

Jan. 31, 2018

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of estimated useful life of property and equipment

The useful life used for computing depreciation for all other asset classes is described below:



Computer Equipment	3-5 years
Furniture and Fixtures	5 years

Property and equipment consisted of the following as of January 31, 2018 and 2017:



(in thousands)	January 31, 2018			January 31, 2017
Leasehold improvements	$	2,292		$	860
Furniture and fixtures	4,785			3,129
Computer equipment	8,174			7,194
Property and equipment, gross	15,251			11,183
Accumulated depreciation	(7,415		)	(6,013		)
Property and equipment, net	$	7,836		$	5,170

Net income per share (Tables)

12 Months Ended

Jan. 31, 2018

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted

The following table sets forth the computation of basic and diluted net income per share:



(in thousands, except per share data)	Year ended January 31,
(in thousands, except per share data)	2018		2017		2016
Numerator (basic and diluted):
Net income	$	47,362	$	26,376	$	16,613
Denominator (basic):
Weighted-average common shares outstanding	60,304		58,615		56,719
Denominator (diluted):
Weighted-average common shares outstanding	60,304		58,615		56,719
Weighted-average dilutive effect of stock options and restricted stock units	1,550		1,279		2,144
Weighted-average common shares outstanding	61,854		59,894		58,863
Net income per share:
Basic	$	0.79	$	0.45	$	0.29
Diluted	$	0.77	$	0.44	$	0.28

Cash, cash equivalents and marketable securities (Tables)

12 Months Ended

Jan. 31, 2018

Investments, Debt and Equity Securities [Abstract]

Cash, cash equivalents and marketable securities

Cash, cash equivalents and marketable securities as of January 31, 2018 consisted of the following:



(in thousands)	Cost basis		Gross unrealized gains		Gross unrealized losses			Fair value
Cash and cash equivalents	$	199,472	$	—	$	—		$	199,472
Marketable securities:
Mutual funds	41,153		270		(626		)	40,797
Total cash, cash equivalents and marketable securities	$	240,625	$	270	$	(626	)	$	240,269

Cash, cash equivalents and marketable securities as of January 31, 2017 consisted of the following:



(in thousands)	Cost basis		Gross unrealized gains		Gross unrealized losses			Fair value
Cash and cash equivalents	$	139,954	$	—	$	—		$	139,954
Marketable securities:
Mutual funds	40,670		207		(472		)	40,405
Total cash, cash equivalents and marketable securities	$	180,624	$	207	$	(472	)	$	180,359

Marketable securities by maturity date

The following table summarizes the cost basis and fair value of the marketable securities by contractual maturity as of January 31, 2018:



(in thousands)	Cost basis		Fair value
One year or less	$	25,664	$	25,590
Over one year and less than five years	15,489		15,207
Total	$	41,153	$	40,797

Schedule of marketable securities with an unrealized loss position

As of January 31, 2018, marketable securities with an unrealized loss position for more than twelve consecutive months were as follows:



	Less than one year					Greater than one year
(in thousands)	Fair value		Unrealized losses			Fair value		Unrealized losses
Mutual funds	$	25,590	$	(243	)	$	15,207	$	(383	)

Property and equipment (Tables)

12 Months Ended

Jan. 31, 2018

Property, Plant and Equipment [Abstract]

Property and equipment

The useful life used for computing depreciation for all other asset classes is described below:



Computer Equipment	3-5 years
Furniture and Fixtures	5 years

Property and equipment consisted of the following as of January 31, 2018 and 2017:



(in thousands)	January 31, 2018			January 31, 2017
Leasehold improvements	$	2,292		$	860
Furniture and fixtures	4,785			3,129
Computer equipment	8,174			7,194
Property and equipment, gross	15,251			11,183
Accumulated depreciation	(7,415		)	(6,013		)
Property and equipment, net	$	7,836		$	5,170

Intangible assets and goodwill (Tables)

12 Months Ended

Jan. 31, 2018

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Finite-Lived Intangible Assets

The gross carrying amount and associated accumulated amortization of intangible assets is as follows as of January 31, 2018 and January 31, 2017:



(in thousands)	January 31, 2018			January 31, 2017
Amortized intangible assets:
Capitalized software development costs	$	31,993		$	23,925
Software	8,863			7,041
Other intangible assets	2,882			—
Acquired intangible member assets	83,915			64,962
Intangible assets, gross	127,653			95,928
Accumulated amortization	(44,018		)	(30,908		)
Intangible assets, net	$	83,635		$	65,020

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense

Estimated amortization expense for the years ending January 31 is as follows:



Year ending January 31, (in thousands)
2019	$	13,290
2020	10,821
2021	7,705
2022	6,011
2023	5,883
Thereafter	39,925
Total	$	83,635

Income taxes (Tables)

12 Months Ended

Jan. 31, 2018

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit)

The Income tax provision consisted of the following:



	Year ended January 31,
(in thousands)	2018		2017			2016
Current:
Federal	$	392	$	14,848		$	9,876
State	130		1,823			1,226
Total current tax provision	$	522	$	16,671		$	11,102
Deferred:
Federal	$	4,068	$	(2,308	)	$	(1,772	)
State	237		(619		)	(389		)
Total deferred tax (benefit) provision	$	4,305	$	(2,927	)	$	(2,161	)
Total income tax provision	$	4,827	$	13,744		$	8,941

Schedule of Effective Income Tax Rate Reconciliation

Total income tax provision differed from the amounts computed by applying the U.S. federal statutory income tax rate of 34% to income before income tax provision as a result of the following:



	Year ended January 31,
(in thousands)	2018			2017			2016
Federal income tax provision at the statutory rate	$	17,744		$	13,641		$	8,688
State income tax provision, net of federal tax benefit	1,241			742			541
Non-deductible or non-taxable items	143			87			56
Excess tax benefits on stock-based compensation expense, net	(14,136		)	—			—
Federal research and development credit	(729		)	(907		)	(371		)
Deferred tax rate adjustment due to tax reform	458			—			—
Current statutory rate differential due to tax reform	(308		)	—			—
Change in uncertain tax position reserves, net of indirect benefits	191			246			96
Other items, net	223			(65		)	(69		)
Total income tax provision	$	4,827		$	13,744		$	8,941

Schedule of Deferred Tax Assets and Liabilities

Deferred tax assets and liabilities consisted of the following:



(in thousands)	January 31, 2018			January 31, 2017
Deferred tax assets:
Accrued bonuses	$	489		$	499
Other accrued liabilities	572			559
Deferred rent	520			364
Stock compensation	5,316			5,061
Net operating loss carryforward	666			84
Research and development credits	2,882			2,225
AMT credits	857			548
Other, net	286			449
Total gross deferred tax assets	$	11,588		$	9,789
Deferred tax liabilities:
Fixed assets: depreciation and gain/loss	$	(1,170	)	$	(902	)
Intangibles: amortization	(4,830		)	(7,252		)
Other, net	(127		)	(57		)
Total gross deferred tax liability	(6,127		)	(8,211		)
Net deferred tax asset	$	5,461		$	1,578

Schedule of Unrecognized Tax Benefits Roll Forward

A tabular reconciliation of the beginning and ending amount of gross unrecognized tax benefits is as follows:



(in thousands)	January 31, 2018		January 31, 2017
Gross unrecognized tax benefits at beginning of year	$	674	$	393
Gross amounts of increases and decreases:
Increases as a result of tax positions taken during a prior period	—		—
Decreases as a result of tax positions taken during a prior period	—		—
Increases as a result of tax positions taken during the current period	215		281
Decreases as a result of tax positions taken during the current period	—		—
Decreases resulting from the lapse of the applicable statute of limitations	—		—
Gross unrecognized tax benefits at end of year	$	889	$	674

Schedule of Unrecognized Tax Benefit Netted Against Deferred Tax Asset

The resulting unrecognized tax benefit recorded within the Company's consolidated balance sheet excludes the following amounts that have been netted against the related deferred tax assets accordingly:



(in thousands)	January 31, 2018			January 31, 2017
Total gross unrecognized tax benefits	$	889		$	674
Amounts netted against related deferred tax assets	(889		)	(674		)
Unrecognized tax benefits recorded on the consolidated balance sheet	$	—		$	—

Stock-based compensation (Tables)

12 Months Ended

Jan. 31, 2018

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Summary of share based compensation recognized

The following table shows a summary of stock-based compensation in the Company's consolidated statements of operations and comprehensive income during the years presented:



	Year ended January 31,
(in thousands)	2018		2017		2016
Cost of revenue	$	2,594	$	1,780	$	1,088
Sales and marketing	2,030		914		903
Technology and development	3,318		1,903		1,014
General and administrative	6,368		3,801		2,878
Total stock-based compensation expense	$	14,310	$	8,398	$	5,883

Summary of assumptions

The key input assumptions that were utilized in the valuation of the stock options granted during the years ended January 31, 2018, 2017 and 2016 are as follows:



	Year ended January 31,
	2018		2017		2016
Expected dividend yield	—	%	—	%	—	%
Expected stock price volatility	37.79% - 38.01%		38.01% - 38.37%		38.29% - 40.29%
Risk-free interest rate	1.18% - 2.07%		1.18% - 2.18%		1.47% - 1.80%
Expected life of options	4.50 - 6.25 years		4.50 - 6.25 years		5.43 - 6.25 years

Summary of stock options

A summary of stock option activity is as follows:



	Outstanding stock options
(in thousands, except for exercise prices and term)	Number of options		Range of exercise prices	Weighted- average exercise price		Weighted- average contractual term (in years)	Aggregate intrinsic value
Outstanding as of January 31, 2017	4,716		$0.10 - 44.53	$	18.36	7.60	$	131,529
Granted	420		$41.28 - 51.44	$	42.72
Exercised	(1,272	)	$0.10 - 46.40	$	11.45
Forfeited	(165	)	$3.50 - 46.40	$	33.39
Outstanding as of January 31, 2018	3,699		$0.10 - 51.44	$	22.83	7.26	$	102,796
Vested and expected to vest as of January 31, 2018	3,699			$	22.83	7.26	$	102,796
Exercisable as of January 31, 2018	1,125			$	16.57	6.49	$	38,319

A summary of stock options granted and exercised is as follows:



	Year ended January 31,
(in thousands, except weighted-average fair value)	2018		2017		2016
Stock options granted	420		1,399		1,093
Weighted-average fair value at date of grant	$	42.72	$	28.85	$	27.34
Total intrinsic value of stock options exercised	$	44,823	$	50,094	$	51,773

Summary of restricted stock unit activity

A summary of all restricted stock unit activity is as follows:



(in thousands, except weight-average grant date fair value)	Shares		Weighted-average grant date fair value
Unvested at January 31, 2017	10		$	26.93
Granted	468		44.61
Vested	(15	)	36.74
Forfeitures	(12	)	46.41
Unvested at January 31, 2018	451		$	44.10

Fair value (Tables)

12 Months Ended

Jan. 31, 2018

Fair Value Disclosures [Abstract]

Schedule of assets measured at fair value on a recurring basis



	January 31, 2018
(in thousands)	Level 1		Level 2		Level 3
Marketable securities:
Mutual funds	$	40,797	$	—	$	—



	January 31, 2017
(in thousands)	Level 1		Level 2		Level 3
Marketable securities:
Mutual funds	$	40,405	$	—	$	—

Supplementary quarterly financial data (unaudited) (Tables)

12 Months Ended

Jan. 31, 2018

Quarterly Financial Information Disclosure [Abstract]

Schedule of Quarterly Financial Information



	Three months ended
(in thousands, except for per share amounts)	January 31, 2018			October 31, 2017			July 31, 2017			April 30, 2017
Total revenue	$	60,436		$	56,789		$	56,879		$	55,421
Total cost of revenue	28,790			23,062			21,077			21,680
Gross profit	31,646			33,727			35,802			33,741
Total operating expenses	23,212			20,165			19,307			17,814
Total other expense	(1,706		)	(395		)	(38		)	(90		)
Income tax provision (benefit)	823			2,685			(489		)	1,808
Net income	$	5,905		$	10,482		$	16,946		$	14,029
Net income per share:
Basic ⁽¹⁾	$	0.10		$	0.17		$	0.28		$	0.23
Diluted ⁽¹⁾	$	0.09		$	0.17		$	0.27		$	0.23

	Three months ended
(in thousands, except for per share amounts)	January 31, 2017			October 31, 2016			July 31, 2016			April 30, 2016
Total revenue	$	46,814		$	43,358		$	44,185		$	44,013
Total cost of revenue	22,585			17,467			15,631			16,332
Gross profit	24,229			25,891			28,554			27,681
Total operating expenses	18,048			16,849			15,815			14,431
Total other expense	(158		)	(256		)	(37		)	(641		)
Income tax provision	1,961			2,778			4,469			4,536
Net income	$	4,062		$	6,008		$	8,233		$	8,073
Net income per share:
Basic	$	0.07		$	0.10		$	0.14		$	0.14
Diluted ⁽¹⁾	$	0.07		$	0.10		$	0.14		$	0.14

(1) Net income per share amounts do not sum to equal full year total due to changes in the number of shares outstanding during the periods and rounding.

Summary of business and significant accounting policies (Details)		12 Months Ended
	May 11, 2015 USD ($) $ / shares shares	Jan. 31, 2018 USD ($) segment $ / shares shares	Jan. 31, 2017 USD ($) $ / shares shares	Jan. 31, 2016 USD ($) shares	Jan. 31, 2015 USD ($)	Jul. 14, 2014 $ / shares shares
Schedule of Equity Method Investments [Line Items]
Cost method ownership		2.00%
Cost method investments		$ 500,000
Number of segments \| segment		1
Account fees receivable		$ 7,900,000
Accounts receivables		9,000,000
Credit card receivables		4,700,000
Allowance for doubtful accounts		$ 208,000	$ 75,000
Class of Stock [Line Items]
Common stock, shares issued (shares) \| shares	972,500	60,825,000	59,538,000
IPO price per share (dollars per share) \| $ / shares	$ 25.90
Shares sold by stockholders (shares) \| shares	3,455,000
Number of shares exercised (shares) \| shares		1,272,000		1,951,000
Net proceeds from IPO	$ 23,500,000
Payments of stock issuance costs underwriters discounts and commissions	1,000,000
Other offering expense	688,000
Proceeds from share of shares	$ 222,000
Common and preferred shares authorized (shares) \| shares						1,000,000,000
Common stock, shares authorized (shares) \| shares		900,000,000	900,000,000			900,000,000
Preferred stock, shares authorized (shares) \| shares		100,000,000	100,000,000			100,000,000
Preferred stock, par value per share (dollars per share) \| $ / shares		$ 0.0001	$ 0.0001			$ 0.0001
Cash and cash equivalents		$ 199,472,000	$ 139,954,000	$ 83,641,000	$ 111,005,000
Cash covered by insurance		750,000
Accounts receivable		21,602,000	17,001,000
Other Expense
Finite-Lived Intangible Assets [Line Items]
Acquisition related expenses		$ 2,200,000	$ 631,000,000	$ 471,000,000
Furniture and Fixtures
Property, Plant and Equipment [Line Items]
Useful life of property, plant and equipment (in years)		5 years
Minimum
Class of Stock [Line Items]
Contract term for services		3 years
Minimum \| Leasehold improvements
Property, Plant and Equipment [Line Items]
Useful life of property, plant and equipment (in years)		3 years
Minimum \| Computer Equipment
Property, Plant and Equipment [Line Items]
Useful life of property, plant and equipment (in years)		3 years
Maximum
Class of Stock [Line Items]
Contract term for services		5 years
Maximum \| Leasehold improvements
Property, Plant and Equipment [Line Items]
Useful life of property, plant and equipment (in years)		5 years
Maximum \| Computer Equipment
Property, Plant and Equipment [Line Items]
Useful life of property, plant and equipment (in years)		5 years
Healthbox Inc.
Schedule of Equity Method Investments [Line Items]
Ownership (percentage)		22.00%
Equity method investments		$ 206,000
Capitalized software development costs \| Minimum
Finite-Lived Intangible Assets [Line Items]
Useful life of intangible assets		3 years
Capitalized software development costs \| Maximum
Finite-Lived Intangible Assets [Line Items]
Useful life of intangible assets		5 years
Other intangible assets
Finite-Lived Intangible Assets [Line Items]
Acquired finite-lived intangible assets, useful life		10 years
Capitalized software development costs
Finite-Lived Intangible Assets [Line Items]
Acquired finite-lived intangible assets, useful life		15 years
Developed Technology Rights \| Minimum
Finite-Lived Intangible Assets [Line Items]
Useful life of intangible assets		3 years
Developed Technology Rights \| Maximum
Finite-Lived Intangible Assets [Line Items]
Useful life of intangible assets		5 years
Common stock
Class of Stock [Line Items]
Number of shares exercised (shares) \| shares	380,000			1,951,000

Summary of business and significant accounting policies New Accounting Pronouncements (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 31, 2018	Jan. 31, 2017	Jan. 31, 2016
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Excess tax benefits	$ 14,136	$ 0	$ 0
Accounting Standards Update 2018-02
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative effect from adoption of accounting standard update		0
Accounting Standards Update 2018-02 \| Retained Earnings
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative effect from adoption of accounting standard update		45
Accounting Standards Update 2018-02 \| AOCI Attributable to Parent
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative effect from adoption of accounting standard update		(45)
Accounting Standards Update 2016-09 \| Retained Earnings
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative effect from adoption of accounting standard update		$ 8,100

Net income per share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended								12 Months Ended
	Jan. 31, 2018	Oct. 31, 2017	Jul. 31, 2017	Apr. 30, 2017	Jan. 31, 2017	Oct. 31, 2016	Jul. 31, 2016	Apr. 30, 2016	Jan. 31, 2018	Jan. 31, 2017	Jan. 31, 2016
Numerator (basic and diluted):
Net income	$ 5,905	$ 10,482	$ 16,946	$ 14,029	$ 4,062	$ 6,008	$ 8,233	$ 8,073	$ 47,362	$ 26,376	$ 16,613
Denominator (basic):
Weighted-average common shares outstanding (shares)									60,304	58,615	56,719
Denominator (diluted):
Weighted-average common shares outstanding (shares)									60,304	58,615	56,719
Weighted-average dilutive effect of stock options and restricted stock units (shares)									1,550	1,279	2,144
Weighted-average common shares outstanding (shares)									61,854	59,894	58,863
Net income per share:
Basic (dollars per share)	$ 0.10	$ 0.17	$ 0.28	$ 0.23	$ 0.07	$ 0.10	$ 0.14	$ 0.14	$ 0.79	$ 0.45	$ 0.29
Diluted (dollars per share)	$ 0.09	$ 0.17	$ 0.27	$ 0.23	$ 0.07	$ 0.10	$ 0.14	$ 0.14	$ 0.77	$ 0.44	$ 0.28
Antidilutive securities excluded from computation of earnings per share (shares)									602	1,400	791

Cash, cash equivalents and marketable securities (Details) - USD ($) $ in Thousands	Jan. 31, 2018	Jan. 31, 2017	Jan. 31, 2016	Jan. 31, 2015
Schedule of Available-for-sale Securities [Line Items]
Cash and cash equivalents, cost basis	$ 199,472	$ 139,954	$ 83,641	$ 111,005
Cash and cash equivalents, fair value	199,472	139,954
Marketable securities, gross unrealized gains	270	207
Marketable securities, gross unrealized losses	(626)	(472)
Marketable securities, at fair value	40,797	40,405
Total cash, cash equivalents and marketable securities, cost basis	240,625	180,624
Total cash, cash equivalents and marketable securities	240,269	180,359
Mutual funds
Schedule of Available-for-sale Securities [Line Items]
Marketable securities, cost basis	41,153	40,670
Marketable securities, gross unrealized gains	270	207
Marketable securities, gross unrealized losses	(626)	(472)
Marketable securities, at fair value	$ 40,797	$ 40,405

Cash, cash equivalents and marketable securities (Contract Maturity) (Details) $ in Thousands	Jan. 31, 2018 USD ($)
Cost basis
One year or less	$ 25,664
Over one year and less than five years	15,489
Total	41,153
Fair value
One year or less	25,590
Over one year and less than five years	15,207
Total	$ 40,797

Cash, cash equivalents and marketable securities (Unrealized Losses) (Details) $ in Thousands	Jan. 31, 2018 USD ($)
Investments, Debt and Equity Securities [Abstract]
Less than one year, Fair value	$ 25,590
Less than one year, Unrealized losses	(243)
Greater than one year, Fair value	15,207
Greater than one year, Unrealized losses	$ (383)

Property and equipment (Schedule of property and equipment) (Details) - USD ($) $ in Thousands	Jan. 31, 2018	Jan. 31, 2017
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 15,251	$ 11,183
Accumulated depreciation	(7,415)	(6,013)
Property and equipment, net	7,836	5,170
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	2,292	860
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Property and equipment, gross	4,785	3,129
Computer equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 8,174	$ 7,194

Intangible assets and goodwill (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 31, 2018	Jan. 31, 2017	Jan. 31, 2016
Finite-Lived Intangible Assets [Line Items]
Purchase price adjustment of acquired intangible members assets	$ 0	$ 0	$ 104
Purchase price	2,882	0	0
Capitalized software development costs	8,100	7,700	5,600
Software development costs incurred and expensed	12,200	10,000	7,600
Amortization expense	13,200	$ 11,200	7,100
Portfolio one of HSAs acquired
Finite-Lived Intangible Assets [Line Items]
Purchase price adjustment of acquired intangible members assets			34,200
Portfolio two of HSAs acquired
Finite-Lived Intangible Assets [Line Items]
Purchase price adjustment of acquired intangible members assets			$ 6,200
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Acquired finite-lived intangible assets, useful life			15 years
Customer relationships \| Servicing Contracts, Portfolio of HSA Members One, Custodian
Finite-Lived Intangible Assets [Line Items]
Purchase price adjustment of acquired intangible members assets	$ 6,400
Acquired finite-lived intangible assets, useful life	15 years
Customer relationships \| Servicing Contracts, Portfolio of HSA Members, Sole Administrator
Finite-Lived Intangible Assets [Line Items]
Purchase price adjustment of acquired intangible members assets	$ 3,300
Customer relationships \| Servicing Contracts, Portfolio of HSA Members Two, Custodian
Finite-Lived Intangible Assets [Line Items]
Purchase price adjustment of acquired intangible members assets	9,300
Finite-lived intangible assets acquired, cash paid	8,000
Contingent earn-out payment	$ 1,300
Acquired finite-lived intangible assets, useful life	15 years
Other intangible assets
Finite-Lived Intangible Assets [Line Items]
Acquired finite-lived intangible assets, useful life	10 years
Definitive Asset Purchase Agreement With BenefitGuard LLC [Member] \| Other intangible assets
Finite-Lived Intangible Assets [Line Items]
Purchase price	$ 2,900
Acquired finite-lived intangible assets, useful life	10 years

Intangible assets and goodwill (Schedule of finite-lived intangible assets) (Details) - USD ($) $ in Thousands	Jan. 31, 2018	Jan. 31, 2017
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross	$ 127,653	$ 95,928
Accumulated amortization	(44,018)	(30,908)
Intangible assets, net	83,635	65,020
Capitalized software development costs
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross	31,993	23,925
Software
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross	8,863	7,041
Other intangible assets
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross	2,882	0
Acquired intangible member assets
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross	$ 83,915	$ 64,962

Intangible assets and goodwill (Schedule for future amortization expense) (Details) - USD ($) $ in Thousands	Jan. 31, 2018	Jan. 31, 2017
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
2019	$ 13,290
2020	10,821
2021	7,705
2022	6,011
2023	5,883
Thereafter	39,925
Intangible assets, net	$ 83,635	$ 65,020

Commitments and contingencies (Future Minimum Rental) (Details) $ in Thousands	Jan. 31, 2018 USD ($)
Future minimum lease payments
2019	$ 6,216
2020	5,917
2021	6,230
2022	5,658
2023	4,307
Thereafter	17,034
Total	45,362
Office lease
Future minimum lease payments
2019	3,904
2020	3,848
2021	4,096
2022	4,198
2023	4,303
Thereafter	17,034
Total	37,383
Other agreements
Future minimum lease payments
2019	2,312
2020	2,069
2021	2,134
2022	1,460
2023	4
Thereafter	0
Total	$ 7,979

Commitments and contingencies (Narrative) (Details)					12 Months Ended
Commitments and contingencies (Narrative) (Details)	May 31, 2017 USD ($)	Sep. 16, 2016 USD ($)	Jul. 01, 2015 lease_renewal	May 15, 2015 lease_renewal	Jan. 31, 2018 USD ($)	Jan. 31, 2017 USD ($)	Jan. 31, 2016 USD ($)
Operating Leased Assets [Line Items]
Annual initial rent	$ 513,000
Written notice required for contract termination (days)					180 days
Contract termination fees, as percentage of minimum processing fees (percentage)					75.00%
Office lease
Operating Leased Assets [Line Items]
Term of contract				129 months
Lease expense for office space					$ 4,300,000	$ 3,300,000	$ 2,100,000
Lease Agreement signed on May 15, 2015
Operating Leased Assets [Line Items]
Number of lease renewals \| lease_renewal				2
Operating leases, renewal term				5 years
Annual initial rent					$ 1,000,000
Annual increase in rent (percentage)					2.50%
Reversal of rent expense							470,000
Amended Lease Agreement
Operating Leased Assets [Line Items]
Term of contract			129 months
Number of lease renewals \| lease_renewal			2
Operating leases, renewal term			5 years
Annual initial rent					$ 1,600,000
Annual increase in rent (percentage)					2.50%
Lease amended September 2016
Operating Leased Assets [Line Items]
Annual initial rent		$ 569,000
Annual increase in rent (percentage)		2.50%
Other agreements
Operating Leased Assets [Line Items]
Lease expense for office space					$ 460,000	$ 307,000	$ 249,000
Minimum
Operating Leased Assets [Line Items]
Annual increase in rent (percentage)	2.50%
Maximum
Operating Leased Assets [Line Items]
Annual increase in rent (percentage)	3.10%

Indebtedness (Details) - Line of Credit - Secured Revolving Credit Facility		12 Months Ended
	Sep. 30, 2015 USD ($)	Jan. 31, 2018 USD ($)	Jan. 31, 2017 USD ($)
Debt Instrument [Line Items]
Secured revolving credit facility, aggregate principal	$ 100,000,000.0
Debt term	5 years
Amounts drawn under Credit Agreement		$ 0
Interest expense		274,000	$ 275,000
Credit facility, deferred finance costs, net		$ 317,000
Minimum
Debt Instrument [Line Items]
Commitment fee		0.20%
Interest coverage ratio		3.00
Minimum \| London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Variable rate borrowing spread		1.50%
Minimum \| Customary Base Rate
Debt Instrument [Line Items]
Variable rate borrowing spread		0.50%
Maximum
Debt Instrument [Line Items]
Commitment fee		0.30%
Leverage ratio		3.00
Maximum \| London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Variable rate borrowing spread		2.00%
Maximum \| Customary Base Rate
Debt Instrument [Line Items]
Variable rate borrowing spread		1.00%

Income taxes (Component of Income tax) (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Jan. 31, 2018	Oct. 31, 2017	Jul. 31, 2017	Apr. 30, 2017	Jan. 31, 2017	Oct. 31, 2016	Jul. 31, 2016	Apr. 30, 2016	Jan. 31, 2018	Jan. 31, 2017	Jan. 31, 2016
Current:
Federal									$ 392	$ 14,848	$ 9,876
State									130	1,823	1,226
Total current tax provision									522	16,671	11,102
Deferred:
Federal									4,068	(2,308)	(1,772)
State									237	(619)	(389)
Total deferred tax (benefit) provision									4,305	(2,927)	(2,161)
Total income tax provision	$ 823	$ 2,685	$ (489)	$ 1,808	$ 1,961	$ 2,778	$ 4,469	$ 4,536	$ 4,827	$ 13,744	$ 8,941

Income taxes (Details) - USD ($)	12 Months Ended
Income taxes (Details) - USD ($)	Jan. 31, 2018	Jan. 31, 2017	Jan. 31, 2016
Operating Loss Carryforwards [Line Items]
Statutory income tax rate	34.00%
Effective income tax rate	9.20%	34.30%	35.00%
Current statutory rate differential due to tax reform	$ 308,000	$ 0	$ 0
Deferred tax rate adjustment due to tax reform	458,000	0	0
Valuation allowance balance	0
Total gross unrecognized tax benefits	889,000	674,000	393,000
Anticipated decrease in total gross unrecognized tax benefits within 12 months	811,000	572,000
Period increase (decrease) in unrecognized tax benefit	215,000
Increase (decrease) in interest and penalty recorded as unrecognized tax benefit.	0	0	$ 8,000
Penalties and interest accrued	0	$ 0
Federal
Operating Loss Carryforwards [Line Items]
Credit carryforward	856,000
State
Operating Loss Carryforwards [Line Items]
Credit carryforward	2,000
December 31, 2025 Through 2036 \| Federal
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	2,600,000
December 31, 2025 Through 2036 \| State
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	2,100,000
December 31, 2019 \| Research \| Federal
Operating Loss Carryforwards [Line Items]
Credit carryforward	2,600,000
December 31, 2024 \| Research \| State
Operating Loss Carryforwards [Line Items]
Credit carryforward	$ 1,500,000

Income taxes (Reconciliation of Income tax) (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Jan. 31, 2018	Oct. 31, 2017	Jul. 31, 2017	Apr. 30, 2017	Jan. 31, 2017	Oct. 31, 2016	Jul. 31, 2016	Apr. 30, 2016	Jan. 31, 2018	Jan. 31, 2017	Jan. 31, 2016
Income Tax Disclosure [Abstract]
Federal income tax provision at the statutory rate									$ 17,744	$ 13,641	$ 8,688
State income tax provision, net of federal tax benefit									1,241	742	541
Non-deductible or non-taxable items									143	87	56
Excess tax benefits on stock-based compensation expense, net									(14,136)	0	0
Federal research and development credit									(729)	(907)	(371)
Deferred tax rate adjustment due to tax reform									458	0	0
Current statutory rate differential due to tax reform									(308)	0	0
Change in uncertain tax position reserves, net of indirect benefits									191	246	96
Other items, net									223	(65)	(69)
Total income tax provision	$ 823	$ 2,685	$ (489)	$ 1,808	$ 1,961	$ 2,778	$ 4,469	$ 4,536	$ 4,827	$ 13,744	$ 8,941

Income taxes (Deferred Tax Assets and Liabilities) (Details) - USD ($) $ in Thousands	Jan. 31, 2018	Jan. 31, 2017
Deferred tax assets:
Accrued bonuses	$ 489	$ 499
Other accrued liabilities	572	559
Deferred rent	520	364
Stock compensation	5,316	5,061
Net operating loss carryforward	666	84
Research and development credits	2,882	2,225
AMT credits	857	548
Other, net	286	449
Total gross deferred tax assets	11,588	9,789
Deferred tax liabilities:
Fixed assets: depreciation and gain/loss	(1,170)	(902)
Intangibles: amortization	(4,830)	(7,252)
Other, net	(127)	(57)
Total gross deferred tax liability	(6,127)	(8,211)
Net deferred tax asset	$ 5,461	$ 1,578

Income taxes (Unrecognized Tax Benefit Rollforward) (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 31, 2018	Jan. 31, 2017
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Gross unrecognized tax benefits at beginning of year	$ 674	$ 393
Increases as a result of tax positions taken during a prior period	0	0
Decreases as a result of tax positions taken during a prior period	0	0
Increases as a result of tax positions taken during the current period	215	281
Decreases as a result of tax positions taken during the current period	0	0
Decreases resulting from the lapse of the applicable statute of limitations	0	0
Gross unrecognized tax benefits at end of year	889	674
Amounts netted against related deferred tax assets	(889)	(674)
Unrecognized tax benefits recorded on the consolidated balance sheet	$ 0	$ 0

Stock-based compensation (Stock-based Compensation) (Details) - USD ($) $ in Thousands	12 Months Ended
	Jan. 31, 2018	Jan. 31, 2017	Jan. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation	$ 14,310	$ 8,398	$ 5,883
Cost of revenue
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation	2,594	1,780	1,088
Sales and marketing
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation	2,030	914	903
Technology and development
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation	3,318	1,903	1,014
General and administrative
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation	$ 6,368	$ 3,801	$ 2,878

Stock-based compensation (Narrative) (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended	12 Months Ended
	Mar. 31, 2017	Jan. 31, 2018	Jan. 31, 2017	Jan. 31, 2016	Jan. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized (shares)		2,600,000
Additional shares available for grants as percentage of capital stock outstanding		3.00%
Shares available for grant (shares)		1,800,000
Expiration period after termination		10 years
Expiration period from termination of employment		90 days
Expected dividend yield		0.00%	0.00%	0.00%
Options exercisable (shares)		1,100,000	1,500,000
Recognition period for stock-based compensation		2 years
Unrecognized stock compensation expense to be recognized in future		$ 17,600
Share based compensation		14,310	$ 8,398	$ 5,883
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance stock granted (shares)					1,500,000
Share based compensation		$ 1,400	1,700	$ 2,500
Performance Shares \| Vesting criteria for FY 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of options vested		10.00%
Minimum adjusted EBITDA to be attained for shares to vest		$ 34,500
Minimum adjusted EBITDA to be attained for shares to vest per share (usd per share)		$ 0.61
Performance Shares \| Vesting criteria for FY 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of options vested		20.00%
Annual growth rate of adjusted EBITDA per share of common stock to be achieved for options to vest		30.00%
Performance Shares \| Vesting criteria subsequent to FY 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Annual growth rate of adjusted EBITDA per share of common stock to be achieved for options to vest		35.00%
Performance Shares \| Vesting criteria for FY 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of options vested		30.00%
Annual growth rate of adjusted EBITDA per share of common stock to be achieved for options to vest		30.00%
Performance Shares \| Vesting criteria for FY 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of options vested		40.00%
Annual growth rate of adjusted EBITDA per share of common stock to be achieved for options to vest		25.00%
Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Recognition period for stock-based compensation		2 years 11 months
Performance stock granted (shares)		468,000
Share based compensation		$ 3,300	$ 233
Award vesting period		4 years
Unrecorded stock-based compensation expense		$ 15,100
Performance Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance stock granted (shares)	146,964
Share based compensation		$ 1,800
Grant date fair value	$ 6,100
Minimum \| Performance Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of options vested	0.00%
Maximum \| Performance Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of options vested	150.00%

Stock-based compensation (Assumptions) (Details)	12 Months Ended
Stock-based compensation (Assumptions) (Details)	Jan. 31, 2018	Jan. 31, 2017	Jan. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected dividend yield	0.00%	0.00%	0.00%
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected stock price volatility	37.79%	38.01%	38.29%
Risk-free interest rate	1.18%	1.18%	1.47%
Expected life of options	4 years 6 months	4 years 6 months	5 years 5 months 6 days
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected stock price volatility	38.01%	38.37%	40.29%
Risk-free interest rate	2.07%	2.18%	1.80%
Expected life of options	6 years 3 months	6 years 3 months	6 years 3 months

Stock-based compensation (Stock Option Activity) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Jan. 31, 2018	Jan. 31, 2017	Jan. 31, 2016
Number of options
Opening balance (shares)	4,716
Granted (shares)	420	1,399	1,093
Number of shares exercised (shares)	(1,272)		(1,951)
Forfeited (shares)	(165)
Ending balance (shares)	3,699	4,716
Range of exercise prices (usd per share)
Beginning balance, minimum (usd per share)	$ 0.10
Beginning balance, maximum (usd per share)	44.53
Granted, minimum (usd per share)	41.28
Granted, maximum (usd per share)	51.44
Exercised, minimum (usd per share)	0.10
Exercised, maximum (usd per share)	46.40
Forfeited, minimum (usd per share)	3.50
Forfeited, maximum (usd per share)	46.40
Ending balance, minimum (usd per share)	0.10	$ 0.10
Ending balance, maximum (usd per share)	51.44	44.53
Weighted- average exercise price (usd per share)
Opening balance (usd per share)	18.36
Granted (usd per share)	42.72
Exercised (dollars per share)	11.45		$ 0.98
Forfeited (usd per share)	33.39
Ending balance (usd per share)	$ 22.83	$ 18.36
Aggregate intrinsic value	$ 102,796	$ 131,529
Weighted- average contractual term (in years)	7 years 3 months 5 days	7 years 7 months 5 days
Vested and expected to vest as of year end (shares)	3,699
Vested and expected to vest as of year end, weighted average exercise price (usd per share)	$ 22.83
Vested and expected to vest as of year end, weighted- average contractual term (in years)	7 years 3 months 5 days
Vested and expected to vest as of year end, aggregate intrinsic value	$ 102,796
Exercisable as of year end (shares)	1,125
Exercisable as of year end (usd per share)	$ 16.57
Exercisable as of year end, weighted-average contractual term (in years)	6 years 5 months 25 days
Exercisable as of year end, aggregate intrinsic value	$ 38,319

Stock-based compensation (Stock Options Granted and Exercised) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Jan. 31, 2018	Jan. 31, 2017	Jan. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock options granted (shares)	420	1,399	1,093
Weighted-average fair value at date of grant (usd per share)	$ 42.72	$ 28.85	$ 27.34
Total intrinsic value of stock options exercised	$ 44,823	$ 50,094	$ 51,773

Stock-based compensation (Restricted Stock Unity Activity) (Details) - Restricted Stock Units shares in Thousands	12 Months Ended
	Jan. 31, 2018 $ / shares shares
Shares
Unvested, beginning balance (in shares) \| shares	10
Granted (in shares) \| shares	468
Vested (in shares) \| shares	(15)
Forfeitures (in shares) \| shares	(12)
Unvested, ending balance (in shares) \| shares	451
Weighted-average grant date fair value
Unvested, beginning balance (usd per share) \| $ / shares	$ 26.93
Granted (usd per share) \| $ / shares	44.61
Vested (usd per share) \| $ / shares	36.74
Forfeitures (usd per share) \| $ / shares	46.41
Unvested, ending balance (usd per share) \| $ / shares	$ 44.10

Fair value (Details) - USD ($) $ in Thousands	Jan. 31, 2018	Jan. 31, 2017
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mutual funds	$ 40,797	$ 40,405
Fair Value, Measurements, Recurring \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mutual funds	40,797	40,405
Fair Value, Measurements, Recurring \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mutual funds	0	0
Fair Value, Measurements, Recurring \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mutual funds	$ 0	$ 0

Employee benefits (Details) - USD ($)	12 Months Ended
Employee benefits (Details) - USD ($)	Jan. 31, 2018	Jan. 31, 2017	Jan. 31, 2016
Defined Contribution Plan Disclosure [Line Items]
Maximum coverage per incident under self-insurance	$ 110,000
Accrued compensation
Defined Contribution Plan Disclosure [Line Items]
Liability for self-insured medical claims	$ 1,700,000
Supplemental Employee Retirement Plan \| 401(k)
Defined Contribution Plan Disclosure [Line Items]
Percent of employees eligible earnings	3.50%
Annual vesting	25.00%
Administrative expenses	$ 25,000	$ 15,000	$ 16,000
Employer matching contribution expense	$ 1,400,000	$ 916,000	$ 626,000

Supplementary quarterly financial data (unaudited) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Jan. 31, 2018	Oct. 31, 2017	Jul. 31, 2017	Apr. 30, 2017	Jan. 31, 2017	Oct. 31, 2016	Jul. 31, 2016	Apr. 30, 2016	Jan. 31, 2018	Jan. 31, 2017	Jan. 31, 2016
Quarterly Financial Information Disclosure [Abstract]
Total revenue	$ 60,436	$ 56,789	$ 56,879	$ 55,421	$ 46,814	$ 43,358	$ 44,185	$ 44,013	$ 229,525	$ 178,370	$ 126,786
Total cost of revenue	28,790	23,062	21,077	21,680	22,585	17,467	15,631	16,332	94,609	72,015	54,188
Gross profit	31,646	33,727	35,802	33,741	24,229	25,891	28,554	27,681	134,916	106,355	72,598
Total operating expenses	23,212	20,165	19,307	17,814	18,048	16,849	15,815	14,431	80,498	65,143	46,455
Total other expense	(1,706)	(395)	(38)	(90)	(158)	(256)	(37)	(641)	(2,229)	(1,092)	(589)
Income tax provision (benefit)	823	2,685	(489)	1,808	1,961	2,778	4,469	4,536	4,827	13,744	8,941
Net income	$ 5,905	$ 10,482	$ 16,946	$ 14,029	$ 4,062	$ 6,008	$ 8,233	$ 8,073	$ 47,362	$ 26,376	$ 16,613
Net income per share:
Basic (dollars per share)	$ 0.10	$ 0.17	$ 0.28	$ 0.23	$ 0.07	$ 0.10	$ 0.14	$ 0.14	$ 0.79	$ 0.45	$ 0.29
Diluted (dollars per share)	$ 0.09	$ 0.17	$ 0.27	$ 0.23	$ 0.07	$ 0.10	$ 0.14	$ 0.14	$ 0.77	$ 0.44	$ 0.28