today , legacy processes and systems are being disrupted and replaced by cloud-based enterprise work management software that improves visibility , collaboration and productivity . in response to these changes , we are providing organizations and their knowledge workers with software applications that better align resources with business objectives and increase visibility , governance , collaboration , quality of customer experience and responsiveness to changes in the business environment . this results in increased work capacity , higher productivity , better execution and greater levels of customer engagement . our applications are easy-to-use , scalable and offer real-time collaboration for knowledge workers distributed on a local or global scale . our applications address enterprise work challenges in the following categories : project & information technology ( it ) management . enables users to manage their organization 's projects , professional workforce and it costs . workflow automation . enables users to automate document-intensive workflow business processes across their enterprise and supply chain . digital engagement . enables users to effectively engage with their customers , prospects and community via the web and mobile technologies . we sell our software applications primarily through a direct sales organization comprised of inside sales and field sales personnel . in addition to our direct sales organization , we have an indirect sales organization , which sells to distributors and value-added resellers . we employ a land-and-expand go-to-market strategy . after we demonstrate the value of an initial application to a customer , our sales and account management teams work to expand the adoption of that initial application across the customer , as well as cross-sell additional applications to address other enterprise work management needs of the customer . our customer success organization supports our direct sales efforts by managing the post-sale customer lifecycle . our subscription agreements are typically sold either on a per-seat basis or on a minimum contracted volume basis with overage fees billed in arrears , depending on the application being sold . we service customers ranging from large global corporations and government agencies to small- and medium-sized businesses . we have more than 2,500 customers with over 250,000 users across a broad range of industries , including financial services , retail , technology , manufacturing , education , consumer goods , media , telecommunications , government , food and beverage , healthcare and life sciences . 41 through a series of acquisitions and integrations , we have established a diverse family of software applications under the upland brand , each of which addresses a specific enterprise work management need . our revenue has grown from $ 22.8 million in fiscal 2012 to $ 74.8 million in fiscal 2016 , representing a 228 % period-over-period growth rate . see note 15 of the notes to consolidated financial statements for more information regarding our revenue as it relates to domestic and foreign operations . our operating results in a given period can fluctuate based on the mix of subscription and support , perpetual license and professional services revenue . for the years ended december 31 , 2016 , 2015 and 2014 , our subscription and support revenue accounted for 88 % , 82 % , and 75 % , respectively of our total revenue in both periods . historically , we have sold certain of our applications under perpetual licenses , which also are paid in advance . for the years ended december 31 , 2016 , 2015 and 2014 , our perpetual license revenue accounted for 2 % , 4 % , and 4 % of our total revenue , respectively . the support agreements related to our perpetual licenses are one-year in duration and entitle the customer to support and unspecified upgrades . the revenue related to such support agreements is included as part of our subscription and support revenue . professional services revenue consists of fees related to implementation , data extraction , integration and configuration and training on our applications . for the years ended december 31 , 2016 , 2015 and 2014 , our professional services revenue accounted for 10 % , 14 % , and 21 % , respectively . to support continued growth , we intend to pursue acquisitions of complementary technologies , products and businesses . this will expand our product families , customer base , and market access resulting in increased benefits of scale . we will prioritize acquisitions within the product categories we currently participate in , including project & it management , workflow automation , and digital engagement . consistent with our growth strategy , we have made twelve acquisitions in the five years ending december 31 , 2016 , excluding an additional acquisition in january 2017. see note 17 of the notes to consolidated financial statements for more information regarding events occurring after december 31 , 2016 . 2012 acquisitions powersteering . in february 2012 , we acquired the business of powersteering software , inc. , or powersteering , a provider of cloud-based program and portfolio management software , for $ 13.0 million . the acquisition of powersteering enabled our customers to gain high-level visibility across their organizations and improve top-down governance in management of programs , initiatives , investments and projects . tenrox . in february 2012 , we acquired the business of tenrox inc. , or tenrox , a provider of cloud-based professional services automation software , for $ 15.3 million . the acquisition of tenrox provided us with additional access to the professional services market and provided our customers with the ability to more effectively manage their knowledge workers to better track work , expenses and client billing while improving scheduling , utilization and alignment of human capital . in addition , following the tenrox acquisition , we began selling timesheet.com , a tenrox product for professional services automation , as a separate application . epm live . story_separator_special_tag we expense sales commissions when the initial customer contract is signed and upon any renewal as our obligation to pay a sales commission arises at these times . sales and marketing expenses may fluctuate as a percentage of total revenues for a variety of reasons including due to the timing of such expenses , in any particular quarterly or annual period . research and development . research and development expenses primarily consist of personnel and related costs of our research and development staff , including salaries , benefits , bonuses , payroll taxes , stock-based compensation , allocated overhead and costs of certain third-party contractors . research and development costs related to the development of our software applications are generally recognized as incurred . for example , we are parties to a technology services agreement pursuant to which we generally recognize expenses for services as they are received . see note 16 of the notes to consolidated financial statements for more information regarding how expenses under such agreement are recognized . we have devoted our product development efforts primarily to enhancing the functionality , and expanding the capabilities , of our applications . refundable canadian tax credits . investment tax credits are accounted for as a reduction of research and development costs . credits are accrued in the year in which the research and development costs of the capital expenditures are incurred , provided that we are reasonably certain that the credits will be received . the investment tax credit must be examined and approved by the tax authorities , and it is possible that the amounts granted will differ from the amounts recorded . general and administrative . general and administrative expenses primarily consist of personnel and related costs for our executive , administrative , finance , information technology , legal , accounting and human resource staff , including salaries , benefits , bonuses , payroll taxes , stock-based compensation , allocated overhead , professional fees and other corporate expenses . we have recently incurred , and expect to continue to incur , additional expenses as we grow our operations , including potentially higher legal , corporate insurance , accounting and auditing expenses , and the additional costs of enhancing and maintaining our internal control environment . general and administrative expenses may fluctuate as a percentage of revenue , and overtime we expect that general and administrative expenses will decrease as a percent of revenue due to operational efficiencies . depreciation and amortization . depreciation and amortization expenses primarily consist of depreciation and amortization of acquired intangible assets as a result of business combination purchase accounting adjustments . the valuation of identifiable intangible assets reflects management 's estimates based on , among other factors , use of established valuation methods . customer relationships are valued using an income approach , which estimates fair value based on the earnings and cash flow capacity of the subject asset and are amortized over a seven to ten-year period . the value of the trade name intangibles are determined using a relief from royalty method , which estimates fair value based on the value the owner of the asset receives from not having to pay a royalty to use the asset and are amortized over mostly a three-year period . developed technology is valued using a cost-to-recreate approach and is amortized over a four- to seven-year period . acquisition-related expenses . acquisition-related expenses consist of one-time costs in connection with each of our acquisitions , including legal fees , accounting fees , financing fees , restructuring costs , integration costs and other transactional fees and bonuses . we intend to continue executing our focused strategy of acquisitions to 48 enhance the features and functionality of our applications , expand our customer base and provide access to new markets and increased benefits of scale . total other expense total other expense consists primarily of changes in the estimated fair value of our preferred stock warrant liabilities , amortization of deferred financing costs over the term of the related loan facility , revaluation of contingent consideration , and interest expense on outstanding debt , including amortization of debt discount and effect of beneficial conversion features in our convertible promissory notes payable . income taxes because we have not generated domestic net income in any period to date , we have recorded a full valuation allowance against our domestic net deferred tax assets , exclusive of tax deductible goodwill . we have historically not recorded any material provision for federal or state income taxes , other than deferred taxes related to tax deductible goodwill and current taxes in certain separate company filing states . the balance of the tax provision for fiscal years ended december 31 , 2016 , 2015 , and 2014 , outside of tax deductible goodwill and current taxes in separate filing states , is related to foreign income taxes , primarily operations of our canadian subsidiaries . realization of any of our domestic deferred tax assets depends upon future earnings , the timing and amount of which are uncertain . based on analysis of acquired net operating losses , utilization of our net operating losses will be subject to annual limitations due to the ownership change rules under the internal revenue code of 1986 , as amended , or the code , and similar state provisions . in the event we have subsequent changes in ownership , the availability of net operating losses and research and development credit carryovers could be further limited . 49 results of operations consolidated statements of operations data the following tables set forth our results of operations for the specified periods , as well as our results of operations for the specified periods as a percentage of revenue . the period-to-period comparisons of results of operations are not necessarily indicative of results for future periods . replace_table_token_11_th ( 1 ) includes stock-based compensation . ( 2 ) includes depreciation and amortization of $ 3,916,000 , $ 3,147,000

cash flows from operating activities cash used in operating activities is significantly influenced by the amount of cash we invest in personnel and infrastructure to support the anticipated growth of our business . our operating assets and liabilities consist primarily of receivables from clients and unbilled professional services , accounts payable and accrued expenses and deferred revenues . the timing of our subscription and support billings , the volume of professional services rendered , the amount of perpetual licenses sold , and the related timing of collections on those bookings , as well as payments of our accounts payable and accrued payroll and related benefits affect these account balances . our cash provided by operating activities for the year ended 2016 primarily reflects our net loss of $ 13.5 million , partially offset by non-cash expenses that included $ 9.8 million of depreciation and amortization , $ 0.5 million of deferred income taxes , $ 0.3 million of non-cash interest expense , and $ 4.3 million of non-cash stock compensation expense . working capital sources of cash included a $ 0.4 million increase in accrued expenses and other liabilities and a $ 2.2 million increase in deferred revenue . these sources of cash were partially offset by a $ 0.4 million increase in accounts receivable , $ 1.5 million decrease in accounts payable and a $ 0.6 million decrease in prepaids and other . our cash provided by operating activities for the year ended 2015 primarily reflects our net loss of $ 13.7 million , offset by non-cash expenses that included $ 8.5 million of depreciation and amortization , $ 0.2 million of deferred income taxes , $ 1.0 million of foreign currency re-measurement loss , $ 0.4 million of non-cash interest expense , and $ 2.7 million of non-cash stock compensation expense . working capital sources of cash included a $ 0.7 million decrease in accounts receivable , a $ 1.9 million decrease in prepaids and other assets , and a $ 0.2 million 61 increase in accounts payable . these sources of cash were offset by a $ 2.8 million decrease in accrued expenses and other liabilities and a $ 0.6 million decrease in deferred revenue .


 Write a concise suspicious activity report of the following text delimited by triple backquotes. Return your response as a formal report which covers the key points highlighting the location,dates,entity names and account holder information in chronological order of the text.
     ```cash flows from operating activities cash used in operating activities is significantly influenced by the amount of cash we invest in personnel and infrastructure to support the anticipated growth of our business . our operating assets and liabilities consist primarily of receivables from clients and unbilled professional services , accounts payable and accrued expenses and deferred revenues . the timing of our subscription and support billings , the volume of professional services rendered , the amount of perpetual licenses sold , and the related timing of collections on those bookings , as well as payments of our accounts payable and accrued payroll and related benefits affect these account balances . our cash provided by operating activities for the year ended 2016 primarily reflects our net loss of $ 13.5 million , partially offset by non-cash expenses that included $ 9.8 million of depreciation and amortization , $ 0.5 million of deferred income taxes , $ 0.3 million of non-cash interest expense , and $ 4.3 million of non-cash stock compensation expense . working capital sources of cash included a $ 0.4 million increase in accrued expenses and other liabilities and a $ 2.2 million increase in deferred revenue . these sources of cash were partially offset by a $ 0.4 million increase in accounts receivable , $ 1.5 million decrease in accounts payable and a $ 0.6 million decrease in prepaids and other . our cash provided by operating activities for the year ended 2015 primarily reflects our net loss of $ 13.7 million , offset by non-cash expenses that included $ 8.5 million of depreciation and amortization , $ 0.2 million of deferred income taxes , $ 1.0 million of foreign currency re-measurement loss , $ 0.4 million of non-cash interest expense , and $ 2.7 million of non-cash stock compensation expense . working capital sources of cash included a $ 0.7 million decrease in accounts receivable , a $ 1.9 million decrease in prepaids and other assets , and a $ 0.2 million 61 increase in accounts payable . these sources of cash were offset by a $ 2.8 million decrease in accrued expenses and other liabilities and a $ 0.6 million decrease in deferred revenue .
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 Suspicious Activity Report : today , legacy processes and systems are being disrupted and replaced by cloud-based enterprise work management software that improves visibility , collaboration and productivity . in response to these changes , we are providing organizations and their knowledge workers with software applications that better align resources with business objectives and increase visibility , governance , collaboration , quality of customer experience and responsiveness to changes in the business environment . this results in increased work capacity , higher productivity , better execution and greater levels of customer engagement . our applications are easy-to-use , scalable and offer real-time collaboration for knowledge workers distributed on a local or global scale . our applications address enterprise work challenges in the following categories : project & information technology ( it ) management . enables users to manage their organization 's projects , professional workforce and it costs . workflow automation . enables users to automate document-intensive workflow business processes across their enterprise and supply chain . digital engagement . enables users to effectively engage with their customers , prospects and community via the web and mobile technologies . we sell our software applications primarily through a direct sales organization comprised of inside sales and field sales personnel . in addition to our direct sales organization , we have an indirect sales organization , which sells to distributors and value-added resellers . we employ a land-and-expand go-to-market strategy . after we demonstrate the value of an initial application to a customer , our sales and account management teams work to expand the adoption of that initial application across the customer , as well as cross-sell additional applications to address other enterprise work management needs of the customer . our customer success organization supports our direct sales efforts by managing the post-sale customer lifecycle . our subscription agreements are typically sold either on a per-seat basis or on a minimum contracted volume basis with overage fees billed in arrears , depending on the application being sold . we service customers ranging from large global corporations and government agencies to small- and medium-sized businesses . we have more than 2,500 customers with over 250,000 users across a broad range of industries , including financial services , retail , technology , manufacturing , education , consumer goods , media , telecommunications , government , food and beverage , healthcare and life sciences . 41 through a series of acquisitions and integrations , we have established a diverse family of software applications under the upland brand , each of which addresses a specific enterprise work management need . our revenue has grown from $ 22.8 million in fiscal 2012 to $ 74.8 million in fiscal 2016 , representing a 228 % period-over-period growth rate . see note 15 of the notes to consolidated financial statements for more information regarding our revenue as it relates to domestic and foreign operations . our operating results in a given period can fluctuate based on the mix of subscription and support , perpetual license and professional services revenue . for the years ended december 31 , 2016 , 2015 and 2014 , our subscription and support revenue accounted for 88 % , 82 % , and 75 % , respectively of our total revenue in both periods . historically , we have sold certain of our applications under perpetual licenses , which also are paid in advance . for the years ended december 31 , 2016 , 2015 and 2014 , our perpetual license revenue accounted for 2 % , 4 % , and 4 % of our total revenue , respectively . the support agreements related to our perpetual licenses are one-year in duration and entitle the customer to support and unspecified upgrades . the revenue related to such support agreements is included as part of our subscription and support revenue . professional services revenue consists of fees related to implementation , data extraction , integration and configuration and training on our applications . for the years ended december 31 , 2016 , 2015 and 2014 , our professional services revenue accounted for 10 % , 14 % , and 21 % , respectively . to support continued growth , we intend to pursue acquisitions of complementary technologies , products and businesses . this will expand our product families , customer base , and market access resulting in increased benefits of scale . we will prioritize acquisitions within the product categories we currently participate in , including project & it management , workflow automation , and digital engagement . consistent with our growth strategy , we have made twelve acquisitions in the five years ending december 31 , 2016 , excluding an additional acquisition in january 2017. see note 17 of the notes to consolidated financial statements for more information regarding events occurring after december 31 , 2016 . 2012 acquisitions powersteering . in february 2012 , we acquired the business of powersteering software , inc. , or powersteering , a provider of cloud-based program and portfolio management software , for $ 13.0 million . the acquisition of powersteering enabled our customers to gain high-level visibility across their organizations and improve top-down governance in management of programs , initiatives , investments and projects . tenrox . in february 2012 , we acquired the business of tenrox inc. , or tenrox , a provider of cloud-based professional services automation software , for $ 15.3 million . the acquisition of tenrox provided us with additional access to the professional services market and provided our customers with the ability to more effectively manage their knowledge workers to better track work , expenses and client billing while improving scheduling , utilization and alignment of human capital . in addition , following the tenrox acquisition , we began selling timesheet.com , a tenrox product for professional services automation , as a separate application . epm live . story_separator_special_tag we expense sales commissions when the initial customer contract is signed and upon any renewal as our obligation to pay a sales commission arises at these times . sales and marketing expenses may fluctuate as a percentage of total revenues for a variety of reasons including due to the timing of such expenses , in any particular quarterly or annual period . research and development . research and development expenses primarily consist of personnel and related costs of our research and development staff , including salaries , benefits , bonuses , payroll taxes , stock-based compensation , allocated overhead and costs of certain third-party contractors . research and development costs related to the development of our software applications are generally recognized as incurred . for example , we are parties to a technology services agreement pursuant to which we generally recognize expenses for services as they are received . see note 16 of the notes to consolidated financial statements for more information regarding how expenses under such agreement are recognized . we have devoted our product development efforts primarily to enhancing the functionality , and expanding the capabilities , of our applications . refundable canadian tax credits . investment tax credits are accounted for as a reduction of research and development costs . credits are accrued in the year in which the research and development costs of the capital expenditures are incurred , provided that we are reasonably certain that the credits will be received . the investment tax credit must be examined and approved by the tax authorities , and it is possible that the amounts granted will differ from the amounts recorded . general and administrative . general and administrative expenses primarily consist of personnel and related costs for our executive , administrative , finance , information technology , legal , accounting and human resource staff , including salaries , benefits , bonuses , payroll taxes , stock-based compensation , allocated overhead , professional fees and other corporate expenses . we have recently incurred , and expect to continue to incur , additional expenses as we grow our operations , including potentially higher legal , corporate insurance , accounting and auditing expenses , and the additional costs of enhancing and maintaining our internal control environment . general and administrative expenses may fluctuate as a percentage of revenue , and overtime we expect that general and administrative expenses will decrease as a percent of revenue due to operational efficiencies . depreciation and amortization . depreciation and amortization expenses primarily consist of depreciation and amortization of acquired intangible assets as a result of business combination purchase accounting adjustments . the valuation of identifiable intangible assets reflects management 's estimates based on , among other factors , use of established valuation methods . customer relationships are valued using an income approach , which estimates fair value based on the earnings and cash flow capacity of the subject asset and are amortized over a seven to ten-year period . the value of the trade name intangibles are determined using a relief from royalty method , which estimates fair value based on the value the owner of the asset receives from not having to pay a royalty to use the asset and are amortized over mostly a three-year period . developed technology is valued using a cost-to-recreate approach and is amortized over a four- to seven-year period . acquisition-related expenses . acquisition-related expenses consist of one-time costs in connection with each of our acquisitions , including legal fees , accounting fees , financing fees , restructuring costs , integration costs and other transactional fees and bonuses . we intend to continue executing our focused strategy of acquisitions to 48 enhance the features and functionality of our applications , expand our customer base and provide access to new markets and increased benefits of scale . total other expense total other expense consists primarily of changes in the estimated fair value of our preferred stock warrant liabilities , amortization of deferred financing costs over the term of the related loan facility , revaluation of contingent consideration , and interest expense on outstanding debt , including amortization of debt discount and effect of beneficial conversion features in our convertible promissory notes payable . income taxes because we have not generated domestic net income in any period to date , we have recorded a full valuation allowance against our domestic net deferred tax assets , exclusive of tax deductible goodwill . we have historically not recorded any material provision for federal or state income taxes , other than deferred taxes related to tax deductible goodwill and current taxes in certain separate company filing states . the balance of the tax provision for fiscal years ended december 31 , 2016 , 2015 , and 2014 , outside of tax deductible goodwill and current taxes in separate filing states , is related to foreign income taxes , primarily operations of our canadian subsidiaries . realization of any of our domestic deferred tax assets depends upon future earnings , the timing and amount of which are uncertain . based on analysis of acquired net operating losses , utilization of our net operating losses will be subject to annual limitations due to the ownership change rules under the internal revenue code of 1986 , as amended , or the code , and similar state provisions . in the event we have subsequent changes in ownership , the availability of net operating losses and research and development credit carryovers could be further limited . 49 results of operations consolidated statements of operations data the following tables set forth our results of operations for the specified periods , as well as our results of operations for the specified periods as a percentage of revenue . the period-to-period comparisons of results of operations are not necessarily indicative of results for future periods . replace_table_token_11_th ( 1 ) includes stock-based compensation . ( 2 ) includes depreciation and amortization of $ 3,916,000 , $ 3,147,000

