```
Subscription Revenue in $000
2012 2013 2014 2015 2016 2017 Q1 2017 Q2 2017 Q3 2017 Q4 2017 Q1 2018
Revenue 19200 38339 66668 111979 188606 310031 62080 71598 82435 93918 100198
CostRev 4291 8504 16790 24531 39478 61267 12254 13688 15458 19867 23160
Gr Prof 14909 29835 49878 87448 149128 248764 49826 57910 66977 74051 77038
GM 78% 78% 75% 78% 79% 80% 80% 81% 81% 79% 77%
Merchant Revenue in $000
2012 2013 2014 2015 2016 2017 Q1 2017 Q2 2017 Q3 2017 Q4 2017 Q1 2018
Revenue 4513 11913 38350 93254 200724 363273 65299 80057 89021 128896 114142
CostRev 485 5009 26433 69631 140357 231784 42884 51127 55971 81802 67338
Gr Prof 4028 6904 11917 23623 60367 131489 22415 28930 33050 47094 46804
GM 89% 58% 31% 25% 30% 36% 34% 36% 37% 37% 41%
Gr Prof 18937 36739 61795 111071 209495 380253 72241 86840 100027 121145 123842
OpEx
S&M 12262 23351 45929 70374 129214 225694 45334 54872 58314 67174 75784
% 52% 46% 44% 34% 33% 34% 36% 36% 34% 30% 35%
R&D 6452 13682 25915 39722 74336 135997 26594 32714 36350 40339 47716
% 27% 27% 25% 19% 19% 20% 21% 22% 21% 18% 22%
G&A 1737 3975 11566 20915 43110 67719 14774 15161 18039 19745 20675
% 7% 8% 11% 10% 11% 10% 12% 10% 11% 9% 10%
```
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