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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Wageworks Inc | NYSE:WAGE | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 51.34 | 0 | 01:00:00 |
|
(Mark One)
|
|
☒
|
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|
☐
|
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|
Delaware
|
|
94-3351864
|
(State or other jurisdiction of
incorporation or organization)
|
|
(I.R.S. Employer
Identification Number)
|
Title of each class
|
Trading Symbol(s)
|
Name of each exchange on which registered
|
Common Stock, $0.001 par value per share
|
WAGE
|
The New York Stock Exchange
|
Large Accelerated Filer
|
[X]
|
|
Accelerated Filer
|
[ ]
|
Non-accelerated Filer
|
[ ]
|
(Do not check if a smaller reporting company)
|
Smaller Reporting Company
|
☐
|
|
|
|
Emerging Growth Company
|
☐
|
|
|
|
Page No.
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|
June 30, 2019
|
|
December 31, 2018
|
||||
|
(Unaudited)
|
|
Derived from
Audited Financial
Statements
|
||||
Assets
|
|
|
|
||||
Current assets:
|
|
|
|
|
|||
Cash and cash equivalents
|
$
|
807,128
|
|
|
$
|
898,426
|
|
Restricted cash
|
—
|
|
|
333
|
|
||
Short-term investments
|
160,915
|
|
|
222,205
|
|
||
Receivables, net
|
89,632
|
|
|
101,297
|
|
||
Prepaid expenses and other current assets
|
28,756
|
|
|
23,662
|
|
||
Total current assets
|
1,086,431
|
|
|
1,245,923
|
|
||
Property and equipment, net
|
72,379
|
|
|
76,920
|
|
||
Operating lease right-of-use assets
|
22,679
|
|
|
—
|
|
||
Goodwill
|
297,409
|
|
|
297,409
|
|
||
Acquired intangible assets, net
|
117,391
|
|
|
130,095
|
|
||
Deferred tax assets, net
|
1,202
|
|
|
1,482
|
|
||
Other assets
|
31,878
|
|
|
33,324
|
|
||
Total assets
|
$
|
1,629,369
|
|
|
$
|
1,785,153
|
|
Liabilities and Stockholders’ Equity
|
|
|
|
||||
Current liabilities:
|
|
|
|
||||
Accounts payable and accrued expenses
|
$
|
88,663
|
|
|
$
|
97,347
|
|
Customer obligations
|
674,879
|
|
|
762,100
|
|
||
Short-term operating lease liabilities
|
8,242
|
|
|
—
|
|
||
Other current liabilities
|
11,544
|
|
|
4,264
|
|
||
Total current liabilities
|
783,328
|
|
|
863,711
|
|
||
Long-term debt, net of issuance costs
|
144,906
|
|
|
244,693
|
|
||
Long-term operating lease liabilities
|
26,358
|
|
|
—
|
|
||
Other long-term liabilities
|
2,180
|
|
|
11,608
|
|
||
Total liabilities
|
956,772
|
|
|
1,120,012
|
|
||
Commitments and Contingencies (Note 10)
|
|
|
|
||||
Stockholders’ Equity:
|
|
|
|
||||
Common stock, par value $0.001 per share (1,000,000 shares authorized; 40,350 shares issued and 39,870 shares outstanding at June 30, 2019 and 40,333 shares issued and 39,853 shares outstanding at December 31, 2018)
|
41
|
|
|
41
|
|
||
Additional paid-in capital
|
583,288
|
|
|
582,521
|
|
||
Treasury stock at cost (480 shares at June 30, 2019 and December 31, 2018)
|
(22,309
|
)
|
|
(22,309
|
)
|
||
Accumulated other comprehensive income (loss)
|
81
|
|
|
(754
|
)
|
||
Retained earnings
|
111,496
|
|
|
105,642
|
|
||
Total stockholders’ equity
|
672,597
|
|
|
665,141
|
|
||
Total liabilities and stockholders’ equity
|
$
|
1,629,369
|
|
|
$
|
1,785,153
|
|
|
Three Months Ended June 30,
|
|
Six Months Ended June 30,
|
||||||||||||
|
2019
|
|
2018
|
|
2019
|
|
2018
|
||||||||
Revenues:
|
|
|
|
|
|
|
|
||||||||
Healthcare
|
$
|
65,172
|
|
|
$
|
68,104
|
|
|
$
|
137,146
|
|
|
$
|
143,361
|
|
COBRA
|
20,316
|
|
|
26,200
|
|
|
43,905
|
|
|
55,035
|
|
||||
Commuter
|
19,560
|
|
|
18,847
|
|
|
38,900
|
|
|
37,725
|
|
||||
Other
|
3,581
|
|
|
3,357
|
|
|
6,903
|
|
|
7,028
|
|
||||
Total revenues
|
108,629
|
|
|
116,508
|
|
|
226,854
|
|
|
243,149
|
|
||||
Operating expenses:
|
|
|
|
|
|
|
|
||||||||
Cost of revenues (excluding amortization of internal use software)
|
36,660
|
|
|
36,143
|
|
|
75,918
|
|
|
81,386
|
|
||||
Technology and development
|
15,600
|
|
|
13,392
|
|
|
31,940
|
|
|
26,425
|
|
||||
Sales and marketing
|
18,269
|
|
|
18,521
|
|
|
36,600
|
|
|
36,859
|
|
||||
General and administrative
|
24,672
|
|
|
18,898
|
|
|
52,581
|
|
|
44,147
|
|
||||
Amortization
|
11,041
|
|
|
10,191
|
|
|
21,892
|
|
|
20,182
|
|
||||
Employee termination and other charges
|
—
|
|
|
2,853
|
|
|
—
|
|
|
2,853
|
|
||||
Total operating expenses
|
106,242
|
|
|
99,998
|
|
|
218,931
|
|
|
211,852
|
|
||||
Income from operations
|
2,387
|
|
|
16,510
|
|
|
7,923
|
|
|
31,297
|
|
||||
Interest and other income, net
|
2,883
|
|
|
1,455
|
|
|
5,532
|
|
|
2,721
|
|
||||
Interest expense
|
(2,164
|
)
|
|
(2,420
|
)
|
|
(4,873
|
)
|
|
(4,602
|
)
|
||||
Income before income taxes
|
3,106
|
|
|
15,545
|
|
|
8,582
|
|
|
29,416
|
|
||||
Income tax provision
|
(1,309
|
)
|
|
(4,621
|
)
|
|
(2,728
|
)
|
|
(7,473
|
)
|
||||
Net income
|
$
|
1,797
|
|
|
$
|
10,924
|
|
|
$
|
5,854
|
|
|
$
|
21,943
|
|
Net income per share:
|
|
|
|
|
|
|
|
||||||||
Basic
|
$
|
0.05
|
|
|
$
|
0.27
|
|
|
$
|
0.15
|
|
|
$
|
0.55
|
|
Diluted
|
$
|
0.04
|
|
|
$
|
0.27
|
|
|
$
|
0.14
|
|
|
$
|
0.54
|
|
Shares used in computing net income per share:
|
|
|
|
|
|
|
|
||||||||
Basic
|
39,861
|
|
|
39,853
|
|
|
39,857
|
|
|
39,838
|
|
||||
Diluted
|
40,618
|
|
|
40,412
|
|
|
40,528
|
|
|
40,446
|
|
|
Three Months Ended June 30,
|
|
Six Months Ended June 30,
|
||||||||||
|
2019
|
|
2018
|
|
2019
|
|
2018
|
||||||
Net income
|
$
|
1,797
|
|
|
$
|
10,924
|
|
|
5,854
|
|
|
21,943
|
|
Net unrealized gain (loss) on short-term investments, net of tax
|
303
|
|
|
47
|
|
|
835
|
|
|
(684
|
)
|
||
Total comprehensive income
|
$
|
2,100
|
|
|
$
|
10,971
|
|
|
6,689
|
|
|
21,259
|
|
|
|
Three and Six Months Ended June 30, 2019
|
|||||||||||||||||||||||||
|
|
Common stock
|
|
Additional paid-in capital
|
|
Treasury stock at cost
|
|
Accumulated other comprehensive income (loss)
|
|
Retained earnings
|
|
Total stockholders’ equity
|
|||||||||||||||
|
|
Shares
|
|
Amount
|
|
|
|
|
|
||||||||||||||||||
Balance at December 31, 2018
|
|
39,853
|
|
|
$
|
41
|
|
|
$
|
582,521
|
|
|
$
|
(22,309
|
)
|
|
$
|
(754
|
)
|
|
$
|
105,642
|
|
|
$
|
665,141
|
|
Stock-based compensation expense
|
|
—
|
|
|
—
|
|
|
2,904
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
2,904
|
|
||||||
Capitalized stock-based compensation
|
|
—
|
|
|
—
|
|
|
53
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
53
|
|
||||||
Other comprehensive income, net of tax
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
532
|
|
|
—
|
|
|
532
|
|
||||||
Net income
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
4,057
|
|
|
4,057
|
|
||||||
Balance at March 31, 2019
|
|
39,853
|
|
|
41
|
|
|
585,478
|
|
|
(22,309
|
)
|
|
(222
|
)
|
|
109,699
|
|
|
672,687
|
|
||||||
Exercise of stock options
|
|
17
|
|
|
—
|
|
|
316
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
316
|
|
||||||
Stock-based compensation expense (reversal), net
|
|
—
|
|
|
—
|
|
|
(2,545
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(2,545
|
)
|
||||||
Capitalized stock-based compensation
|
|
—
|
|
|
—
|
|
|
39
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
39
|
|
||||||
Other comprehensive income, net of tax
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
303
|
|
|
—
|
|
|
303
|
|
||||||
Net income
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
1,797
|
|
|
1,797
|
|
||||||
Balance at June 30, 2019
|
|
39,870
|
|
|
$
|
41
|
|
|
$
|
583,288
|
|
|
$
|
(22,309
|
)
|
|
$
|
81
|
|
|
$
|
111,496
|
|
|
$
|
672,597
|
|
|
|
Three and Six Months Ended June 30, 2018
|
|||||||||||||||||||||||||
|
|
Common stock
|
|
Additional paid-in capital
|
|
Treasury stock at cost
|
|
Accumulated other comprehensive loss
|
|
Retained earnings
|
|
Total stockholders’ equity
|
|||||||||||||||
|
|
Shares
|
|
Amount
|
|
|
|
|
|
||||||||||||||||||
Balance at December 31, 2017
|
|
39,771
|
|
|
$
|
41
|
|
|
$
|
562,131
|
|
|
$
|
(22,309
|
)
|
|
$
|
(354
|
)
|
|
$
|
72,741
|
|
|
$
|
612,250
|
|
Exercise of stock options
|
|
54
|
|
|
—
|
|
|
1,395
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
1,395
|
|
||||||
Issuance of common stock under Employee Stock Purchase Plan
|
|
18
|
|
|
—
|
|
|
869
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
869
|
|
||||||
Issuance of restricted stock units, net of shares withheld for employee taxes
|
|
10
|
|
|
—
|
|
|
(281
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(281
|
)
|
||||||
Stock-based compensation expense
|
|
—
|
|
|
—
|
|
|
7,293
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
7,293
|
|
||||||
Capitalized stock-based compensation
|
|
—
|
|
|
—
|
|
|
191
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
191
|
|
||||||
Other comprehensive loss, net of tax
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(731
|
)
|
|
—
|
|
|
(731
|
)
|
||||||
ASC 606 cumulative-effect adjustment
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
6,955
|
|
|
6,955
|
|
||||||
Net income
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
11,019
|
|
|
11,019
|
|
||||||
Balance at March 31, 2018
|
|
39,853
|
|
|
41
|
|
|
571,598
|
|
|
(22,309
|
)
|
|
(1,085
|
)
|
|
90,715
|
|
|
638,960
|
|
||||||
Stock-based compensation expense
|
|
—
|
|
|
—
|
|
|
1,588
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
1,588
|
|
||||||
Capitalized stock-based compensation
|
|
—
|
|
|
—
|
|
|
68
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
68
|
|
||||||
Other comprehensive income, net of tax
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
47
|
|
|
—
|
|
|
47
|
|
||||||
Net income
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
10,924
|
|
|
10,924
|
|
||||||
Balance at June 30, 2018
|
|
39,853
|
|
|
$
|
41
|
|
|
$
|
573,254
|
|
|
$
|
(22,309
|
)
|
|
$
|
(1,038
|
)
|
|
$
|
101,639
|
|
|
$
|
651,587
|
|
|
Six Months Ended June 30,
|
||||||
|
2019
|
|
2018
|
||||
Cash flows from operating activities:
|
|
|
|
||||
Net income
|
$
|
5,854
|
|
|
$
|
21,943
|
|
Adjustments to reconcile net income to net cash (used in) provided by operating activities:
|
|
|
|
||||
Depreciation and amortization
|
29,419
|
|
|
26,834
|
|
||
Amortization of debt issuance costs
|
363
|
|
|
242
|
|
||
Amortization of contract costs
|
1,536
|
|
|
1,576
|
|
||
Stock-based compensation expense
|
359
|
|
|
8,881
|
|
||
Provision for doubtful accounts
|
510
|
|
|
98
|
|
||
Other
|
172
|
|
|
(379
|
)
|
||
Changes in operating assets and liabilities:
|
|
|
|
||||
Receivables
|
11,155
|
|
|
20,312
|
|
||
Prepaid expenses and other current assets
|
(5,094
|
)
|
|
6,964
|
|
||
Other assets
|
(90
|
)
|
|
(14,109
|
)
|
||
Accounts payable and accrued expenses
|
(11,025
|
)
|
|
(1,755
|
)
|
||
Customer obligations
|
(87,221
|
)
|
|
(57,879
|
)
|
||
Other liabilities
|
9,870
|
|
|
831
|
|
||
Net cash (used in) provided by operating activities
|
(44,192
|
)
|
|
13,559
|
|
||
Cash flows from investing activities:
|
|
|
|
||||
Purchases of property and equipment
|
(9,694
|
)
|
|
(19,834
|
)
|
||
Purchases of short-term investments
|
(10,930
|
)
|
|
(122,823
|
)
|
||
Proceeds from sales of short-term investments
|
6,316
|
|
|
4,096
|
|
||
Proceeds from maturities of short-term investments
|
66,860
|
|
|
56,665
|
|
||
Purchases of intangible assets
|
(60
|
)
|
|
(209
|
)
|
||
Net cash provided by (used in) investing activities
|
52,492
|
|
|
(82,105
|
)
|
||
Cash flows from financing activities:
|
|
|
|
||||
Proceeds from exercise of common stock options
|
316
|
|
|
1,396
|
|
||
Proceeds from issuance of common stock under Employee Stock Purchase Plan
|
—
|
|
|
869
|
|
||
Payments of debt modification costs
|
(150
|
)
|
|
(500
|
)
|
||
Payments of debt principal
|
(100,000
|
)
|
|
—
|
|
||
Payment of finance lease obligations
|
(97
|
)
|
|
(152
|
)
|
||
Taxes paid related to net share settlement of stock-based compensation arrangements
|
—
|
|
|
(218
|
)
|
||
Net cash (used in) provided by financing activities
|
(99,931
|
)
|
|
1,395
|
|
||
Net decrease in cash and cash equivalents, unrestricted and restricted
|
(91,631
|
)
|
|
(67,151
|
)
|
||
Cash and cash equivalents at beginning of period, unrestricted and restricted
|
898,759
|
|
|
779,677
|
|
||
Cash and cash equivalents at end of period, unrestricted and restricted
|
$
|
807,128
|
|
|
$
|
712,526
|
|
|
|
|
|
||||
Supplemental cash flow disclosure:
|
|
|
|
||||
Cash paid during the period for:
|
|
|
|
||||
Interest
|
$
|
4,786
|
|
|
$
|
4,139
|
|
Income taxes
|
$
|
3,814
|
|
|
$
|
1,979
|
|
Noncash financing and investing activities:
|
|
|
|
||||
Property and equipment, accrued but not paid
|
$
|
2,341
|
|
|
$
|
3,168
|
|
Property and equipment under finance lease
|
$
|
—
|
|
|
$
|
142
|
|
|
Three months ended June 30,
|
|
Six months ended June 30,
|
||||||||||||
|
2019
|
|
2018
|
|
2019
|
|
2018
|
||||||||
Numerator: Net income
|
$
|
1,797
|
|
|
$
|
10,924
|
|
|
$
|
5,854
|
|
|
$
|
21,943
|
|
|
|
|
|
|
|
|
|
||||||||
Denominator:
|
|
|
|
|
|
|
|
||||||||
Basic weighted-average shares
|
39,861
|
|
|
39,853
|
|
|
39,857
|
|
|
39,838
|
|
||||
Effect of potentially dilutive shares:
|
|
|
|
|
|
|
|
||||||||
Weighted-average dilutive stock options, restricted stock and performance restricted stock units, and employee stock purchase plan shares
|
757
|
|
|
559
|
|
|
671
|
|
|
608
|
|
||||
Diluted weighted-average shares
|
40,618
|
|
|
40,412
|
|
|
40,528
|
|
|
40,446
|
|
||||
|
|
|
|
|
|
|
|
||||||||
Net income per share:
|
|
|
|
|
|
|
|
||||||||
Basic
|
$
|
0.05
|
|
|
$
|
0.27
|
|
|
$
|
0.15
|
|
|
$
|
0.55
|
|
Diluted
|
$
|
0.04
|
|
|
$
|
0.27
|
|
|
$
|
0.14
|
|
|
$
|
0.54
|
|
|
|
Three Months Ended June 30,
|
|
Six Months Ended June 30,
|
||||||||||||
|
|
2019
|
|
2018
|
|
2019
|
|
2018
|
||||||||
Benefit administration services and COBRA
|
|
$
|
87,763
|
|
|
$
|
96,258
|
|
|
$
|
183,723
|
|
|
$
|
200,699
|
|
Interchange
|
|
13,245
|
|
|
13,555
|
|
|
28,684
|
|
|
29,300
|
|
||||
Other
|
|
7,621
|
|
|
6,695
|
|
|
14,447
|
|
|
13,150
|
|
||||
Total
|
|
$
|
108,629
|
|
|
$
|
116,508
|
|
|
$
|
226,854
|
|
|
$
|
243,149
|
|
|
|
Three Months Ended June 30,
|
|
Six Months Ended June 30,
|
||||||||||||
|
|
2019
|
|
2018
|
|
2019
|
|
2018
|
||||||||
Revenues recognized in the period for:
|
|
|
|
|
|
|
|
|
||||||||
Performance obligations satisfied from amounts included in contract liabilities at the beginning of the period
|
|
$
|
143
|
|
|
$
|
143
|
|
|
$
|
286
|
|
|
$
|
286
|
|
Performance obligations satisfied from new activities in the period - contract revenues
|
|
108,486
|
|
|
116,365
|
|
|
226,568
|
|
|
242,863
|
|
||||
Total revenues
|
|
$
|
108,629
|
|
|
$
|
116,508
|
|
|
$
|
226,854
|
|
|
$
|
243,149
|
|
|
June 30, 2019
|
||
2019 (remainder of year)
|
$
|
286
|
|
2020
|
571
|
|
|
2021
|
571
|
|
|
2022 and thereafter
|
1,143
|
|
|
Total
|
$
|
2,571
|
|
June 30, 2019
|
|
Amortized Cost
|
|
Gross Unrealized Gain
|
|
Gross Unrealized Loss
|
|
Fair Value
|
|
Level 1
|
|
Level 2
|
||||||||||||
Cash equivalents:
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Money market funds
|
|
$
|
41,570
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
41,570
|
|
|
$
|
41,570
|
|
|
$
|
—
|
|
Commercial paper
|
|
32,848
|
|
|
1
|
|
|
(5
|
)
|
|
32,844
|
|
|
—
|
|
|
32,844
|
|
||||||
Municipal bonds
|
|
10,382
|
|
|
—
|
|
|
—
|
|
|
10,382
|
|
|
—
|
|
|
10,382
|
|
||||||
Total cash equivalents
|
|
84,800
|
|
|
1
|
|
|
(5
|
)
|
|
84,796
|
|
|
41,570
|
|
|
43,226
|
|
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Short-Term Investments:
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
U.S. government securities
|
|
15,564
|
|
|
1
|
|
|
(10
|
)
|
|
15,555
|
|
|
15,555
|
|
|
—
|
|
||||||
U.S. government agency securities
|
|
10,842
|
|
|
4
|
|
|
(9
|
)
|
|
10,837
|
|
|
—
|
|
|
10,837
|
|
||||||
Municipal bonds
|
|
2,295
|
|
|
2
|
|
|
—
|
|
|
2,297
|
|
|
—
|
|
|
2,297
|
|
||||||
Corporate debt securities
|
|
100,364
|
|
|
199
|
|
|
(49
|
)
|
|
100,514
|
|
|
—
|
|
|
100,514
|
|
||||||
Commercial paper
|
|
5,994
|
|
|
—
|
|
|
—
|
|
|
5,994
|
|
|
—
|
|
|
5,994
|
|
||||||
Asset-backed securities
|
|
25,732
|
|
|
14
|
|
|
(28
|
)
|
|
25,718
|
|
|
—
|
|
|
25,718
|
|
||||||
Total short-term investments
|
|
160,791
|
|
|
220
|
|
|
(96
|
)
|
|
160,915
|
|
|
15,555
|
|
|
145,360
|
|
||||||
Total cash equivalents and short-term investments
|
|
$
|
245,591
|
|
|
$
|
221
|
|
|
$
|
(101
|
)
|
|
$
|
245,711
|
|
|
$
|
57,125
|
|
|
$
|
188,586
|
|
December 31, 2018
|
|
Amortized Cost
|
|
Gross Unrealized Gain
|
|
Gross Unrealized Loss
|
|
Fair Value
|
|
Level 1
|
|
Level 2
|
||||||||||||
Cash equivalents:
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Money market funds
|
|
$
|
41,027
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
41,027
|
|
|
$
|
41,027
|
|
|
$
|
—
|
|
Commercial paper
|
|
10,436
|
|
|
1
|
|
|
—
|
|
|
10,437
|
|
|
—
|
|
|
10,437
|
|
||||||
Municipal bonds
|
|
7,781
|
|
|
—
|
|
|
—
|
|
|
7,781
|
|
|
—
|
|
|
7,781
|
|
||||||
Total cash equivalents
|
|
59,244
|
|
|
1
|
|
|
—
|
|
|
59,245
|
|
|
41,027
|
|
|
18,218
|
|
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Short-Term Investments:
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
U.S. government securities
|
|
22,534
|
|
|
—
|
|
|
(94
|
)
|
|
22,440
|
|
|
22,440
|
|
|
—
|
|
||||||
U.S. government agency securities
|
|
14,346
|
|
|
—
|
|
|
(56
|
)
|
|
14,290
|
|
|
—
|
|
|
14,290
|
|
||||||
Municipal bonds
|
|
3,548
|
|
|
—
|
|
|
(4
|
)
|
|
3,544
|
|
|
—
|
|
|
3,544
|
|
||||||
Foreign government securities
|
|
2,504
|
|
|
—
|
|
|
(6
|
)
|
|
2,498
|
|
|
—
|
|
|
2,498
|
|
||||||
Corporate debt securities
|
|
134,003
|
|
|
37
|
|
|
(685
|
)
|
|
133,355
|
|
|
—
|
|
|
133,355
|
|
||||||
Commercial paper
|
|
12,954
|
|
|
—
|
|
|
(4
|
)
|
|
12,950
|
|
|
—
|
|
|
12,950
|
|
||||||
Certificates of deposit
|
|
1,258
|
|
|
—
|
|
|
—
|
|
|
1,258
|
|
|
—
|
|
|
1,258
|
|
||||||
Asset-backed securities
|
|
32,054
|
|
|
—
|
|
|
(184
|
)
|
|
31,870
|
|
|
—
|
|
|
31,870
|
|
||||||
Total short-term investments
|
|
223,201
|
|
|
37
|
|
|
(1,033
|
)
|
|
222,205
|
|
|
22,440
|
|
|
199,765
|
|
||||||
Total cash equivalents and short-term investments
|
|
$
|
282,445
|
|
|
$
|
38
|
|
|
$
|
(1,033
|
)
|
|
$
|
281,450
|
|
|
$
|
63,467
|
|
|
$
|
217,983
|
|
|
|
Less than 12 months
|
|
12 months or greater
|
|
Total
|
||||||||||||||||||
June 30, 2019
|
|
Fair Value
|
|
Gross Unrealized Loss
|
|
Fair Value
|
|
Gross Unrealized Loss
|
|
Fair Value
|
|
Gross Unrealized Loss
|
||||||||||||
Cash equivalents:
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Commercial paper
|
|
$
|
29,851
|
|
|
$
|
(5
|
)
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
29,851
|
|
|
$
|
(5
|
)
|
Total cash equivalents in unrealized loss position
|
|
29,851
|
|
|
(5
|
)
|
|
—
|
|
|
—
|
|
|
29,851
|
|
|
(5
|
)
|
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Short-Term Investments:
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
U.S. government securities
|
|
—
|
|
|
—
|
|
|
13,035
|
|
|
(10
|
)
|
|
13,035
|
|
|
(10
|
)
|
||||||
U.S. government agency securities
|
|
—
|
|
|
—
|
|
|
8,822
|
|
|
(9
|
)
|
|
8,822
|
|
|
(9
|
)
|
||||||
Corporate debt securities
|
|
6,389
|
|
|
(4
|
)
|
|
55,447
|
|
|
(45
|
)
|
|
61,836
|
|
|
(49
|
)
|
||||||
Commercial paper
|
|
5,993
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
5,993
|
|
|
—
|
|
||||||
Asset-backed securities
|
|
3,550
|
|
|
(3
|
)
|
|
12,850
|
|
|
(25
|
)
|
|
16,400
|
|
|
(28
|
)
|
||||||
Total short-term investments in unrealized loss position
|
|
15,932
|
|
|
(7
|
)
|
|
90,154
|
|
|
(89
|
)
|
|
106,086
|
|
|
(96
|
)
|
||||||
Total cash equivalents and short-term investments in unrealized loss position
|
|
$
|
45,783
|
|
|
$
|
(12
|
)
|
|
$
|
90,154
|
|
|
$
|
(89
|
)
|
|
$
|
135,937
|
|
|
$
|
(101
|
)
|
|
|
Less than 12 months
|
||||||
December 31, 2018
|
|
Fair Value
|
|
Gross Unrealized Loss
|
||||
Short-Term Investments:
|
|
|
|
|
||||
U.S. government securities
|
|
$
|
22,440
|
|
|
$
|
(94
|
)
|
U.S. government agency securities
|
|
14,290
|
|
|
(56
|
)
|
||
Municipal bonds
|
|
3,544
|
|
|
(4
|
)
|
||
Foreign government securities
|
|
2,498
|
|
|
(6
|
)
|
||
Corporate debt securities
|
|
125,192
|
|
|
(685
|
)
|
||
Commercial paper
|
|
12,950
|
|
|
(4
|
)
|
||
Asset-backed securities
|
|
31,870
|
|
|
(184
|
)
|
||
Total short-term investments in unrealized loss position
|
|
$
|
212,784
|
|
|
$
|
(1,033
|
)
|
June 30, 2019
|
|
Amortized Cost
|
|
Fair Value
|
||||
Due less than one year
|
|
$
|
221,054
|
|
|
$
|
221,026
|
|
Due in one to five years
|
|
24,537
|
|
|
24,685
|
|
||
Total
|
|
$
|
245,591
|
|
|
$
|
245,711
|
|
December 31, 2018
|
|
Amortized Cost
|
|
Fair Value
|
||||
Due less than one year
|
|
$
|
219,057
|
|
|
$
|
218,394
|
|
Due in one to five years
|
|
63,388
|
|
|
63,056
|
|
||
Total
|
|
$
|
282,445
|
|
|
$
|
281,450
|
|
|
June 30,
2019 |
|
December 31,
2018 |
||||
Trade receivables
|
$
|
49,324
|
|
|
$
|
52,525
|
|
Unpaid amounts for benefit services
|
44,426
|
|
|
52,380
|
|
||
Receivables, gross
|
93,750
|
|
|
104,905
|
|
||
Less: allowance for doubtful accounts
|
(4,118
|
)
|
|
(3,608
|
)
|
||
Receivables, net
|
$
|
89,632
|
|
|
$
|
101,297
|
|
|
June 30,
2019 |
|
December 31,
2018 |
||||
Computers and equipment
|
$
|
29,406
|
|
|
$
|
27,519
|
|
Software and software development costs
|
153,063
|
|
|
144,260
|
|
||
Furniture and fixtures
|
8,121
|
|
|
8,123
|
|
||
Leasehold improvements
|
28,951
|
|
|
28,883
|
|
||
Property and equipment, gross
|
219,541
|
|
|
208,785
|
|
||
Less: accumulated depreciation and amortization
|
(147,162
|
)
|
|
(131,865
|
)
|
||
Property and equipment, net
|
$
|
72,379
|
|
|
$
|
76,920
|
|
|
June 30, 2019
|
|
December 31, 2018
|
||||||||||||||||||||
|
Gross
carrying
amount
|
|
Accumulated
amortization
|
|
Net
|
|
Gross
carrying
amount
|
|
Accumulated
amortization
|
|
Net
|
||||||||||||
Amortizable intangible assets:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Client/broker contracts and relationships
|
$
|
237,490
|
|
|
$
|
(120,983
|
)
|
|
$
|
116,507
|
|
|
$
|
237,430
|
|
|
$
|
(108,834
|
)
|
|
$
|
128,596
|
|
Trade names
|
3,880
|
|
|
(3,635
|
)
|
|
245
|
|
|
3,880
|
|
|
(3,587
|
)
|
|
293
|
|
||||||
Technology
|
14,646
|
|
|
(14,490
|
)
|
|
156
|
|
|
14,646
|
|
|
(14,009
|
)
|
|
637
|
|
||||||
Noncompete agreements
|
2,232
|
|
|
(2,120
|
)
|
|
112
|
|
|
2,232
|
|
|
(2,084
|
)
|
|
148
|
|
||||||
Favorable lease agreements
|
1,134
|
|
|
(763
|
)
|
|
371
|
|
|
1,134
|
|
|
(713
|
)
|
|
421
|
|
||||||
Total
|
$
|
259,382
|
|
|
$
|
(141,991
|
)
|
|
$
|
117,391
|
|
|
$
|
259,322
|
|
|
$
|
(129,227
|
)
|
|
$
|
130,095
|
|
|
As of
June 30, 2019 |
||
Remainder of 2019
|
$
|
12,181
|
|
2020
|
22,758
|
|
|
2021
|
19,953
|
|
|
2022
|
17,518
|
|
|
2023
|
14,728
|
|
|
Thereafter
|
30,253
|
|
|
Total
|
$
|
117,391
|
|
|
June 30,
2019 |
|
December 31,
2018 |
||||
Accounts payable and accrued liabilities
|
$
|
28,026
|
|
|
$
|
32,771
|
|
Payable to benefit providers and transit agencies
|
32,220
|
|
|
30,148
|
|
||
Accrued compensation and related benefits
|
24,180
|
|
|
28,594
|
|
||
Other accrued expenses
|
4,237
|
|
|
5,834
|
|
||
Accounts payable and accrued expenses
|
$
|
88,663
|
|
|
$
|
97,347
|
|
|
June 30,
2019 |
|
December 31,
2018 |
||||
Revolving credit facility used
|
$
|
149,830
|
|
|
$
|
249,830
|
|
Less: Outstanding letters of credit
|
(2,830
|
)
|
|
(2,830
|
)
|
||
Outstanding revolving credit facility
|
147,000
|
|
|
247,000
|
|
||
Unamortized loan issuance costs
|
(2,094
|
)
|
|
(2,307
|
)
|
||
Long-term debt, net of issuance costs
|
$
|
144,906
|
|
|
$
|
244,693
|
|
|
|
Three Months Ended
June 30, 2019
|
|
Six Months Ended
June 30, 2019
|
||||
Operating lease cost
|
|
$
|
1,806
|
|
|
$
|
3,620
|
|
Sublease income
|
|
(469
|
)
|
|
(938
|
)
|
||
Net lease cost
|
|
$
|
1,337
|
|
|
$
|
2,682
|
|
Years Ending December 31,
|
|
Operating Leases
|
||
2019 (remainder of year)
|
|
$
|
4,819
|
|
2020
|
|
9,700
|
|
|
2021
|
|
9,696
|
|
|
2022
|
|
6,536
|
|
|
2023
|
|
2,308
|
|
|
Thereafter
|
|
5,663
|
|
|
Total minimum lease payments
|
|
38,722
|
|
|
Less: imputed interest
|
|
(4,122
|
)
|
|
Present value of net minimum lease payments
|
|
34,600
|
|
|
Less: current portion
|
|
8,242
|
|
|
Long-term operating lease liabilities
|
|
$
|
26,358
|
|
Years Ending December 31,
|
|
Operating Leases
|
||
2019
|
|
$
|
9,479
|
|
2020
|
|
9,685
|
|
|
2021
|
|
9,661
|
|
|
2022
|
|
6,536
|
|
|
2023
|
|
2,308
|
|
|
Thereafter
|
|
5,663
|
|
|
Total future minimum lease payments
|
|
$
|
43,332
|
|
|
Total
|
|
Less than 1 year
|
|
1-3 years
|
|
3-5 years
|
|
More than 5 years
|
||||||||||
Future lease obligation (Mesa)
|
$
|
63,094
|
|
|
$
|
—
|
|
|
$
|
5,803
|
|
|
$
|
11,944
|
|
|
$
|
45,347
|
|
|
|
Three Months Ended June 30,
|
|
Six Months Ended June 30,
|
||||||||||||
|
|
2019
|
|
2018
|
|
2019
|
|
2018
|
||||||||
Cost of revenues
|
|
$
|
414
|
|
|
$
|
660
|
|
|
$
|
939
|
|
|
$
|
2,327
|
|
Technology and development
|
|
270
|
|
|
586
|
|
|
785
|
|
|
1,161
|
|
||||
Sales and marketing
|
|
344
|
|
|
772
|
|
|
975
|
|
|
1,750
|
|
||||
General and administrative
|
|
(3,573
|
)
|
|
(430
|
)
|
|
(2,340
|
)
|
|
3,643
|
|
||||
Total
|
|
$
|
(2,545
|
)
|
|
$
|
1,588
|
|
|
$
|
359
|
|
|
$
|
8,881
|
|
|
Shares
|
|
Weighted-average
exercise price
|
|
Remaining
contractual term
(in years)
|
|
Aggregate
intrinsic value
(in thousands)
|
|||||
Outstanding at December 31, 2018
|
2,219
|
|
|
$
|
46.50
|
|
|
5.11
|
|
$
|
4,321
|
|
Granted
|
—
|
|
|
—
|
|
|
|
|
|
|||
Exercised
|
(17
|
)
|
|
18.58
|
|
|
|
|
|
|||
Forfeited and cancelled
|
(43
|
)
|
|
$
|
26.21
|
|
|
|
|
|
||
Outstanding as of June 30, 2019
|
2,159
|
|
|
$
|
47.12
|
|
|
4.02
|
|
$
|
19,877
|
|
Vested and expected to vest at June 30, 2019
|
2,140
|
|
|
$
|
46.98
|
|
|
3.99
|
|
$
|
19,858
|
|
Exercisable at June 30, 2019
|
1,933
|
|
|
$
|
45.31
|
|
|
3.63
|
|
$
|
19,602
|
|
|
|
|
Weighted-average grant date fair value
|
||||||||||
|
Service-
based RSUs
|
|
Performance-
based RSUs
|
|
Service-
based RSUs
|
|
Performance-
based RSUs
|
||||||
Unvested at December 31, 2018
|
164
|
|
|
200
|
|
|
$
|
61.79
|
|
|
$
|
59.76
|
|
Granted
|
736
|
|
|
—
|
|
|
$
|
50.92
|
|
|
$
|
—
|
|
Vested
|
(35
|
)
|
|
(32
|
)
|
|
$
|
56.99
|
|
|
$
|
7.28
|
|
Forfeited and cancelled
|
(5
|
)
|
|
—
|
|
|
$
|
61.61
|
|
|
$
|
—
|
|
Unvested at June 30, 2019
|
860
|
|
|
168
|
|
|
$
|
52.68
|
|
|
$
|
72.30
|
|
|
Three Months Ended June 30,
|
|
|
|
|
|
Six Months Ended June 30,
|
|
|
|
|
||||||||||||||||||
(In thousands except percentage)
|
2019
|
|
2018
|
|
$ Change
|
|
% Change
|
|
2019
|
|
2018
|
|
$ Change
|
|
% Change
|
||||||||||||||
Revenues:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
Healthcare
|
$
|
65,172
|
|
|
$
|
68,104
|
|
|
$
|
(2,932
|
)
|
|
(4
|
)%
|
|
$
|
137,146
|
|
|
$
|
143,361
|
|
|
$
|
(6,215
|
)
|
|
(4
|
)%
|
COBRA
|
20,316
|
|
|
26,200
|
|
|
(5,884
|
)
|
|
(22
|
)%
|
|
43,905
|
|
|
55,035
|
|
|
(11,130
|
)
|
|
(20
|
)%
|
||||||
Commuter
|
19,560
|
|
|
18,847
|
|
|
713
|
|
|
4
|
%
|
|
38,900
|
|
|
37,725
|
|
|
1,175
|
|
|
3
|
%
|
||||||
Other
|
3,581
|
|
|
3,357
|
|
|
224
|
|
|
7
|
%
|
|
6,903
|
|
|
7,028
|
|
|
(125
|
)
|
|
(2
|
)%
|
||||||
Total revenues
|
$
|
108,629
|
|
|
$
|
116,508
|
|
|
$
|
(7,879
|
)
|
|
(7
|
)%
|
|
$
|
226,854
|
|
|
$
|
243,149
|
|
|
$
|
(16,295
|
)
|
|
(7
|
)%
|
|
|
Three Months Ended June 30,
|
|
|
|
|
|
Six Months Ended June 30,
|
|
|
|
|
||||||||||||||||||
(In thousands except percentage)
|
|
2019
|
|
2018
|
|
$ Change
|
|
% Change
|
|
2019
|
|
2018
|
|
$ Change
|
|
% Change
|
||||||||||||||
Cost of revenues (excluding amortization of internal use software)
|
|
$
|
36,660
|
|
|
$
|
36,143
|
|
|
$
|
517
|
|
|
1
|
%
|
|
$
|
75,918
|
|
|
$
|
81,386
|
|
|
$
|
(5,468
|
)
|
|
(7
|
)%
|
Percentage of revenue
|
|
34
|
%
|
|
31
|
%
|
|
|
|
|
|
33
|
%
|
|
33
|
%
|
|
|
|
|
|
|
Three Months Ended June 30,
|
|
|
|
|
|
Six Months Ended June 30,
|
|
|
|
|
||||||||||||||||||
(In thousands except percentage)
|
|
2019
|
|
2018
|
|
$ Change
|
|
% Change
|
|
2019
|
|
2018
|
|
$ Change
|
|
% Change
|
||||||||||||||
Technology and development
|
|
$
|
15,600
|
|
|
$
|
13,392
|
|
|
$
|
2,208
|
|
|
16
|
%
|
|
$
|
31,940
|
|
|
$
|
26,425
|
|
|
$
|
5,515
|
|
|
21
|
%
|
Percentage of revenue
|
|
14
|
%
|
|
11
|
%
|
|
|
|
|
|
14
|
%
|
|
11
|
%
|
|
|
|
|
|
|
Three Months Ended June 30,
|
|
|
|
|
|
Six Months Ended June 30,
|
|
|
|
|
||||||||||||||||||
(In thousands except percentage)
|
|
2019
|
|
2018
|
|
$ Change
|
|
% Change
|
|
2019
|
|
2018
|
|
$ Change
|
|
% Change
|
||||||||||||||
Sales and marketing
|
|
$
|
18,269
|
|
|
$
|
18,521
|
|
|
$
|
(252
|
)
|
|
(1
|
)%
|
|
$
|
36,600
|
|
|
$
|
36,859
|
|
|
$
|
(259
|
)
|
|
(1
|
)%
|
Percentage of revenue
|
|
17
|
%
|
|
16
|
%
|
|
|
|
|
|
16
|
%
|
|
15
|
%
|
|
|
|
|
|
|
Three Months Ended June 30,
|
|
|
|
|
|
Six Months Ended June 30,
|
|
|
|
|
||||||||||||||||||
(In thousands except percentage)
|
|
2019
|
|
2018
|
|
$ Change
|
|
% Change
|
|
2019
|
|
2018
|
|
$ Change
|
|
% Change
|
||||||||||||||
General and administrative
|
|
$
|
24,672
|
|
|
$
|
18,898
|
|
|
$
|
5,774
|
|
|
31
|
%
|
|
$
|
52,581
|
|
|
$
|
44,147
|
|
|
$
|
8,434
|
|
|
19
|
%
|
Percentage of revenue
|
|
23
|
%
|
|
16
|
%
|
|
|
|
|
|
23
|
%
|
|
18
|
%
|
|
|
|
|
|
|
Three Months Ended June 30,
|
|
|
|
|
|
Six Months Ended June 30,
|
|
|
|
|
||||||||||||||||||
(In thousands except percentage)
|
|
2019
|
|
2018
|
|
$ Change
|
|
% Change
|
|
2019
|
|
2018
|
|
$ Change
|
|
% Change
|
||||||||||||||
Amortization
|
|
$
|
11,041
|
|
|
$
|
10,191
|
|
|
$
|
850
|
|
|
8
|
%
|
|
$
|
21,892
|
|
|
$
|
20,182
|
|
|
$
|
1,710
|
|
|
8
|
%
|
Percentage of revenue
|
|
10
|
%
|
|
9
|
%
|
|
|
|
|
|
10
|
%
|
|
8
|
%
|
|
|
|
|
|
|
Three Months Ended June 30,
|
|
|
|
|
|
Six Months Ended June 30,
|
|
|
|
|
||||||||||||||||
(In thousands except percentage)
|
|
2019
|
|
2018
|
|
$ Change
|
|
% Change
|
|
2019
|
|
2018
|
|
$ Change
|
|
% Change
|
||||||||||||
Interest and other income, net
|
|
$
|
2,883
|
|
|
$
|
1,455
|
|
|
$
|
1,428
|
|
|
98
|
%
|
|
5,532
|
|
|
2,721
|
|
|
$
|
2,811
|
|
|
103
|
%
|
Interest expense
|
|
$
|
(2,164
|
)
|
|
$
|
(2,420
|
)
|
|
$
|
256
|
|
|
(11
|
)%
|
|
(4,873
|
)
|
|
(4,602
|
)
|
|
$
|
(271
|
)
|
|
6
|
%
|
|
|
Three Months Ended June 30,
|
|
|
|
|
|
Six Months Ended June 30,
|
|
|
|
|
||||||||||||||||||
(In thousands except percentage)
|
|
2019
|
|
2018
|
|
$ Change
|
|
% Change
|
|
2019
|
|
2018
|
|
$ Change
|
|
% Change
|
||||||||||||||
Income before income taxes
|
|
$
|
3,106
|
|
|
$
|
15,545
|
|
|
|
|
|
|
$
|
8,582
|
|
|
$
|
29,416
|
|
|
|
|
|
||||||
Income tax provision
|
|
$
|
(1,309
|
)
|
|
$
|
(4,621
|
)
|
|
$
|
3,312
|
|
|
(72
|
)%
|
|
$
|
(2,728
|
)
|
|
$
|
(7,473
|
)
|
|
$
|
4,745
|
|
|
(63
|
)%
|
Effective tax rate
|
|
42
|
%
|
|
30
|
%
|
|
|
|
|
|
32
|
%
|
|
25
|
%
|
|
|
|
|
|
Six Months Ended June 30,
|
|
|
||||||||
(in thousands)
|
2019
|
|
2018
|
|
$ Change
|
||||||
Net cash (used in) provided by operating activities
|
$
|
(44,192
|
)
|
|
$
|
13,559
|
|
|
$
|
(57,751
|
)
|
Net cash provided by (used in) investing activities
|
52,492
|
|
|
(82,105
|
)
|
|
134,597
|
|
|||
Net cash (used in) provided by financing activities
|
(99,931
|
)
|
|
1,395
|
|
|
(101,326
|
)
|
|||
Net change in cash and cash equivalents, unrestricted and restricted
|
$
|
(91,631
|
)
|
|
$
|
(67,151
|
)
|
|
$
|
(24,480
|
)
|
|
Total
|
|
Less than 1 year
|
|
1-3 years
|
|
3-5 years
|
|
More than 5 years
|
||||||||||
Future lease obligation (Mesa)
|
$
|
63,094
|
|
|
$
|
—
|
|
|
$
|
5,803
|
|
|
$
|
11,944
|
|
|
$
|
45,347
|
|
|
Total
|
|
Less than 1 year
|
|
1-3 years
|
|
3-5 years
|
|
More than 5 years
|
||||||||||
Future lease obligation (Mesa)
|
$
|
63,094
|
|
|
$
|
—
|
|
|
$
|
5,803
|
|
|
$
|
11,944
|
|
|
$
|
45,347
|
|
|
|
Incorporated by Reference
|
||||
Exhibit No.
|
Exhibit Description
|
Form
|
File No.
|
Exhibit
|
Filing Date
|
Filed Herewith
|
2.1(2)
|
8-K
|
001-35232
|
2.1
|
6/27/2019
|
|
|
3.10
|
8-K
|
001-35232
|
3.1
|
6/27/2019
|
|
|
10.10H
|
10-Q
|
001-35232
|
10.10H
|
8/1/2017
|
|
|
10.30
|
10-K
|
001-35232
|
10.30
|
5/30/2019
|
|
|
10.35
|
10-Q
|
001-35232
|
10.35
|
6/27/2019
|
|
|
10.36
|
|
|
|
|
X
|
|
10.37
|
8-K
|
001-35232
|
10.1
|
5/10/2019
|
|
|
31.1
|
|
|
|
|
X
|
|
31.2
|
|
|
|
|
X
|
|
32.1
(1)
|
|
|
|
|
X
|
|
101.INS
|
Inline XBRL Instance Document
|
|
|
|
|
|
101.SCH
|
Inline XBRL Taxonomy Schema Linkbase Document
|
|
|
|
|
|
101.CAL
|
Inline XBRL Taxonomy Calculation Linkbase Document
|
|
|
|
|
|
101.DEF
|
Inline XBRL Taxonomy Definition Linkbase Document
|
|
|
|
|
|
101.LAB
|
Inline XBRL Taxonomy Labels Linkbase Document
|
|
|
|
|
|
101.PRE
|
Inline XBRL Taxonomy Presentation Linkbase Document
|
|
|
|
|
|
104
|
Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101)
|
|
|
|
|
X
|
(1)
|
The certifications attached as Exhibit 32.1 that accompany this Quarterly Report on Form 10-Q are not deemed filed with the Securities and Exchange Commission and are not to be incorporated by reference into any filing of WageWorks, Inc. under the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended, whether made before or after the date of this Form 10-Q, irrespective of any general incorporation language contained in such filing.
|
(2)
|
Schedules have been omitted pursuant to Item 601(b)(2) of Regulation S-K, but a copy will be furnished supplementally to the Securities and Exchange Commission upon request.
|
|
|
WAGEWORKS, INC.
|
|
|
|
Date: August 8, 2019
|
By:
|
/s/ ISMAIL DAWOOD
|
|
|
Ismail Dawood
|
|
|
Chief Financial Officer
|
|
|
(Principal Financial and Accounting Officer)
|
1 Year Wageworks Chart |
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