this solution is designed to provide it teams with 49 comprehensive operational awareness by pairing endpoint visibility and log analytics . with insightops , we believe that it professionals will have the ability to easily search and ask questions of their data to gain insights regarding core issues related to their it environments faster , which , we believe , will ultimately improve uptime and business productivity . insightops is currently being tested in a beta program , and we anticipate it will be ready for sale during the first half of 2017. in november 2016 , we announced the appointment of jeff kalowski as our new chief financial officer , effective january 9 , 2017. he replaced steven gatoff , who joined us at the beginning of 2013 , announced his planned departure in august 2016 and formally transitioned from our company in january 2017. in october 2016 , we announced that andrew burton , who was formerly our senior vice president of logentries , was promoted to the position of chief operating officer . our business model we have three offerings : ( 1 ) threat exposure management , which includes our nexpose , metasploit and appspider products , ( 2 ) incident detection and response , which includes our insightidr , managed detection and response ( formerly known as analytic response ) and logentries products as well as our incident response services and ( 3 ) security advisory services . we offer our products through a variety of delivery models to meet the needs of our diverse customer base , including : licensed software , including both term and perpetual licenses , and the simultaneous sale of maintenance and support . our nexpose , metasploit and appspider products are offered through perpetual or term software licenses , with a substantial majority of our customers selecting a perpetual license . substantially all of our customers who purchase software licenses also purchase ( 1 ) an agreement for maintenance and support , which provides our customers with telephone and web-based support and ongoing bug fixes and repairs during the term of the maintenance and support agreement and ( 2 ) purchasers of nexpose and metasploit also purchase content subscriptions , which provide our customers with real-time access to the latest vulnerabilities and exploits . our maintenance and support and content subscription agreements are typically for one to three-year terms . cloud-based subscriptions , where our software capabilities are provided to our customers through cloud access and on a software as a service , or saas , basis . our insightidr , appspider and logentries products are offered on a cloud-based subscription basis , generally with one to three-year terms . managed services , where we operate our software and provide our capabilities on behalf of our customers . our managed vulnerability management ( nexpose ) , managed application security ( appspider ) and managed detection and response ( insightidr ) products are offered on a managed service basis , generally pursuant to one to three-year agreements . we also offer various professional services across all of our offerings , including deployment and training services related to our nexpose , metasploit , appspider and insightidr software products , incident response services and security advisory services . customers can purchase our professional services together with our product offerings or on a stand-alone basis pursuant to fixed fee or time-and-materials agreements . an important component of our revenue growth strategy is to have our existing customers renew their agreements with us and purchase additional products from us . to assess our performance against this objective , we monitor the renewal rates of our existing customers . we calculate our renewal rate by dividing the dollar value of renewed customer agreements , including upsells and cross-sells of additional products , but excluding professional services , on a monthly basis in a trailing 12-month period by the dollar value of the corresponding 50 expiring customer agreements . we also calculate an expiring renewal rate that does not take into account any upsells or cross-sells . as a result of this methodology , we would not expect our expiring renewal rate to exceed 100 % . our renewal rate was 120 % , 126 % and 111 % in 2016 , 2015 and 2014 , respectively , and our expiring revenue renewal rate was 89 % , 88 % and 85 % in 2016 , 2015 and 2014 , respectively . our goal is to maintain what we believe are strong renewal rates , and work to increase them over time . however , our renewal rates may decline or fluctuate as a result of a number of factors , including customers ' satisfaction or dissatisfaction with our products and professional services , pricing , economic conditions or overall reductions in our customers ' spending levels . we generate revenue from selling products , maintenance and support , and professional services . in 2016 , 2015 and 2014 , 81 % , 82 % and 86 % of our revenue , respectively , was derived from sales of products and associated maintenance and support , while the remaining 19 % , 18 % and 14 % , respectively , was derived from the sale of professional services . in 2016 , 2015 and 2014 , recurring revenue , defined as sales of content subscriptions , managed services , cloud-based subscriptions and maintenance and support , made up 62 % of total revenue . we generally bill customers and collect payment for both our products and services up front . in 2016 , 2015 and 2014 , 55 % , 53 % and 53 % , respectively , of our total revenue came from deferred revenue on the balance sheet at the beginning of the respective periods . key metrics we monitor the following key metrics to help us measure and evaluate the effectiveness of our operations : replace_table_token_7_th total revenue and growth . story_separator_special_tag the increase in professional services gross margin was driven by higher utilization as well as a higher percentage of our services bookings coming from services that are sold on a standalone basis , which are recognized as delivered . the increase in maintenance and support gross margin was driven by our ability to scale as our revenue continues to grow . the decrease in products gross margin was due to an increase in revenue from cloud-based subscriptions and managed services which have lower gross margins than our software license product sales . operating expenses research and development expense replace_table_token_19_th research and development expense increased by $ 9.2 million in 2016 compared to 2015 primarily due to a $ 6.1 million increase in personnel costs as a result of our increase in headcount of our research and development teams from 205 as of december 31 , 2015 to 251 as of december 31 , 2016 as well as the timing effect of when our headcount additions were hired in 2016 and 2015 , to support our product innovation . included in the increase in personnel cost was a $ 1.0 million increase in stock-based compensation expense and $ 3.1 million of additional cost attributable to the nt objectives , inc. ( nto ) and logentries acquisitions due to 2016 including a full year of expense , partially offset by $ 0.6 million in proceeds received from a northern ireland grant . our increase in research and development expense also included a $ 3.7 million increase in allocated overhead driven largely by an increase in it and facilities costs . these cost increases were offset by a $ 0.5 million reduction related to a charge taken in 2015 for the write off of capitalized product development costs , and a $ 0.1 million decrease in other expenses . sales and marketing expense replace_table_token_20_th sales and marketing expense increased by $ 23.2 million in 2016 compared to 2015 primarily due to a $ 13.2 million increase in personnel costs , resulting from an increase in headcount from 314 as of december 31 , 2015 to 346 as of december 31 , 2016 as well as the timing effect of when our headcount additions were hired in 60 2016 and 2015 , to actively market and develop additional sales of our products and services . included in the increase in personnel cost was a $ 3.5 million increase in stock-based compensation expense and $ 2.6 million of additional costs attributable to the logentries acquisition due to 2016 including a full year of expense . our increase in sales and marketing expense also included a $ 3.3 million increase in allocated overhead driven largely by an increase in it and facilities costs , a $ 2.2 million increase in marketing expense driven largely by continued investments in attracting new customers , a $ 2.1 million increase in partner referral fees , a $ 1.2 million increase in travel and entertainment expense , a $ 0.7 million increase in recruiting and training costs , a $ 0.3 million increase in professional fees and $ 0.2 million of other expenses . general and administrative expense replace_table_token_21_th general and administrative expense increased by $ 6.6 million in 2016 compared to 2015 primarily due to a $ 3.7 million increase in personnel costs as a result of an increase in headcount from 97 as of december 31 , 2015 to 126 as of december 31 , 2016 as well as the timing effect of when our headcount additions were hired in 2016 and 2015 , to support our overall company growth as well as operations as a public company . included in the increase in personnel costs was a $ 2.0 million increase in stock-based compensation expense . our increase in general and administrative expense also included a $ 0.9 million increase in professional fees related to global structuring of our intellectual property and international business operations , a $ 0.6 million increase in allocated overhead , driven by higher it and facilities costs , a $ 0.4 million increase in recruiting and relocation costs related to certain key employees , a $ 0.5 million increase in amortization expense largely due to the logentries acquisition , a $ 0.4 million increase in insurance costs , and $ 0.4 million related to a settlement and licensing agreement with a third party , partially offset by a $ 0.3 million decrease in other expenses . interest income ( expense ) , net replace_table_token_22_th interest income ( expense ) , net increased by $ 2.7 million in 2016 compared to 2015 primarily due to the repayment in full and termination of our term loan in july 2015. other income ( expense ) , net replace_table_token_23_th other income ( expense ) , net reflected a $ 0.2 million decrease in expense in 2016 compared to 2015 primarily due to realized and unrealized foreign currency gains and losses . 61 income tax ( benefit ) provision replace_table_token_24_th income tax ( benefit ) expense decreased by $ 0.5 million in 2016 compared to 2015 primarily due to recognition of research and development tax credits in canada , ireland and the uk , as well as the impact related to the restructuring of our international business operations . year ended december 31 , 2015 compared to the year ended december 31 , 2014 revenue replace_table_token_25_th total revenue increased by $ 33.6 million in 2015 compared to 2014 primarily due to an increase of $ 17.8 million in revenue recognized from our deferred revenue balance . the remaining increase was the result of increased purchases of additional products and services of $ 8.9 million by our existing customers and $ 6.9 million from increased sales to new customers . the increase in total revenue in 2015 was comprised of $ 29.0 million from north america and $ 4.6 million from the rest of the world . we added 1,399 net new customers in 2015 , bringing our

liquidity and capital resources our principal sources of liquidity are cash and cash equivalents , investments and our accounts receivable . in connection with our initial public offering , or ipo , and concurrent private placement in july 2015 , we received aggregate net proceeds to us of $ 112.3 million , after deducting underwriting discounts and commissions related to our ipo of $ 8.3 million and offering expenses of $ 3.1 million . prior to our ipo , we funded our operations primarily through issuances of common and redeemable convertible preferred stock and debt , including net proceeds of $ 93.4 million from the sale of shares of common and preferred stock . as of december 31 , 2016 , we had $ 53.1 million in cash and cash equivalents and an accumulated deficit of $ 389.3 million . since our inception , we have generated significant losses and expect to continue to generate losses for the foreseeable future . we believe that our existing cash and cash equivalents together with cash generated from our operations will be sufficient to meet our working capital expenditure requirements for at least the next 12 months . our future capital requirements will depend on many factors , including our growth rate , the timing and extent of spending to support research and development efforts , the expansion of sales and marketing activities , particularly internationally , the introduction of new and enhanced products and professional service offerings and the cost of any future acquisitions of technology or businesses . in the event that additional financing is required from outside sources , we may be unable to raise the funds on acceptable terms , if at all . if we are unable to raise additional capital on terms satisfactory to us when we require it , our business , operating results and financial condition could be adversely affected .


 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.
     ```liquidity and capital resources our principal sources of liquidity are cash and cash equivalents , investments and our accounts receivable . in connection with our initial public offering , or ipo , and concurrent private placement in july 2015 , we received aggregate net proceeds to us of $ 112.3 million , after deducting underwriting discounts and commissions related to our ipo of $ 8.3 million and offering expenses of $ 3.1 million . prior to our ipo , we funded our operations primarily through issuances of common and redeemable convertible preferred stock and debt , including net proceeds of $ 93.4 million from the sale of shares of common and preferred stock . as of december 31 , 2016 , we had $ 53.1 million in cash and cash equivalents and an accumulated deficit of $ 389.3 million . since our inception , we have generated significant losses and expect to continue to generate losses for the foreseeable future . we believe that our existing cash and cash equivalents together with cash generated from our operations will be sufficient to meet our working capital expenditure requirements for at least the next 12 months . our future capital requirements will depend on many factors , including our growth rate , the timing and extent of spending to support research and development efforts , the expansion of sales and marketing activities , particularly internationally , the introduction of new and enhanced products and professional service offerings and the cost of any future acquisitions of technology or businesses . in the event that additional financing is required from outside sources , we may be unable to raise the funds on acceptable terms , if at all . if we are unable to raise additional capital on terms satisfactory to us when we require it , our business , operating results and financial condition could be adversely affected .
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 Suspicious Activity Report : this solution is designed to provide it teams with 49 comprehensive operational awareness by pairing endpoint visibility and log analytics . with insightops , we believe that it professionals will have the ability to easily search and ask questions of their data to gain insights regarding core issues related to their it environments faster , which , we believe , will ultimately improve uptime and business productivity . insightops is currently being tested in a beta program , and we anticipate it will be ready for sale during the first half of 2017. in november 2016 , we announced the appointment of jeff kalowski as our new chief financial officer , effective january 9 , 2017. he replaced steven gatoff , who joined us at the beginning of 2013 , announced his planned departure in august 2016 and formally transitioned from our company in january 2017. in october 2016 , we announced that andrew burton , who was formerly our senior vice president of logentries , was promoted to the position of chief operating officer . our business model we have three offerings : ( 1 ) threat exposure management , which includes our nexpose , metasploit and appspider products , ( 2 ) incident detection and response , which includes our insightidr , managed detection and response ( formerly known as analytic response ) and logentries products as well as our incident response services and ( 3 ) security advisory services . we offer our products through a variety of delivery models to meet the needs of our diverse customer base , including : licensed software , including both term and perpetual licenses , and the simultaneous sale of maintenance and support . our nexpose , metasploit and appspider products are offered through perpetual or term software licenses , with a substantial majority of our customers selecting a perpetual license . substantially all of our customers who purchase software licenses also purchase ( 1 ) an agreement for maintenance and support , which provides our customers with telephone and web-based support and ongoing bug fixes and repairs during the term of the maintenance and support agreement and ( 2 ) purchasers of nexpose and metasploit also purchase content subscriptions , which provide our customers with real-time access to the latest vulnerabilities and exploits . our maintenance and support and content subscription agreements are typically for one to three-year terms . cloud-based subscriptions , where our software capabilities are provided to our customers through cloud access and on a software as a service , or saas , basis . our insightidr , appspider and logentries products are offered on a cloud-based subscription basis , generally with one to three-year terms . managed services , where we operate our software and provide our capabilities on behalf of our customers . our managed vulnerability management ( nexpose ) , managed application security ( appspider ) and managed detection and response ( insightidr ) products are offered on a managed service basis , generally pursuant to one to three-year agreements . we also offer various professional services across all of our offerings , including deployment and training services related to our nexpose , metasploit , appspider and insightidr software products , incident response services and security advisory services . customers can purchase our professional services together with our product offerings or on a stand-alone basis pursuant to fixed fee or time-and-materials agreements . an important component of our revenue growth strategy is to have our existing customers renew their agreements with us and purchase additional products from us . to assess our performance against this objective , we monitor the renewal rates of our existing customers . we calculate our renewal rate by dividing the dollar value of renewed customer agreements , including upsells and cross-sells of additional products , but excluding professional services , on a monthly basis in a trailing 12-month period by the dollar value of the corresponding 50 expiring customer agreements . we also calculate an expiring renewal rate that does not take into account any upsells or cross-sells . as a result of this methodology , we would not expect our expiring renewal rate to exceed 100 % . our renewal rate was 120 % , 126 % and 111 % in 2016 , 2015 and 2014 , respectively , and our expiring revenue renewal rate was 89 % , 88 % and 85 % in 2016 , 2015 and 2014 , respectively . our goal is to maintain what we believe are strong renewal rates , and work to increase them over time . however , our renewal rates may decline or fluctuate as a result of a number of factors , including customers ' satisfaction or dissatisfaction with our products and professional services , pricing , economic conditions or overall reductions in our customers ' spending levels . we generate revenue from selling products , maintenance and support , and professional services . in 2016 , 2015 and 2014 , 81 % , 82 % and 86 % of our revenue , respectively , was derived from sales of products and associated maintenance and support , while the remaining 19 % , 18 % and 14 % , respectively , was derived from the sale of professional services . in 2016 , 2015 and 2014 , recurring revenue , defined as sales of content subscriptions , managed services , cloud-based subscriptions and maintenance and support , made up 62 % of total revenue . we generally bill customers and collect payment for both our products and services up front . in 2016 , 2015 and 2014 , 55 % , 53 % and 53 % , respectively , of our total revenue came from deferred revenue on the balance sheet at the beginning of the respective periods . key metrics we monitor the following key metrics to help us measure and evaluate the effectiveness of our operations : replace_table_token_7_th total revenue and growth . story_separator_special_tag the increase in professional services gross margin was driven by higher utilization as well as a higher percentage of our services bookings coming from services that are sold on a standalone basis , which are recognized as delivered . the increase in maintenance and support gross margin was driven by our ability to scale as our revenue continues to grow . the decrease in products gross margin was due to an increase in revenue from cloud-based subscriptions and managed services which have lower gross margins than our software license product sales . operating expenses research and development expense replace_table_token_19_th research and development expense increased by $ 9.2 million in 2016 compared to 2015 primarily due to a $ 6.1 million increase in personnel costs as a result of our increase in headcount of our research and development teams from 205 as of december 31 , 2015 to 251 as of december 31 , 2016 as well as the timing effect of when our headcount additions were hired in 2016 and 2015 , to support our product innovation . included in the increase in personnel cost was a $ 1.0 million increase in stock-based compensation expense and $ 3.1 million of additional cost attributable to the nt objectives , inc. ( nto ) and logentries acquisitions due to 2016 including a full year of expense , partially offset by $ 0.6 million in proceeds received from a northern ireland grant . our increase in research and development expense also included a $ 3.7 million increase in allocated overhead driven largely by an increase in it and facilities costs . these cost increases were offset by a $ 0.5 million reduction related to a charge taken in 2015 for the write off of capitalized product development costs , and a $ 0.1 million decrease in other expenses . sales and marketing expense replace_table_token_20_th sales and marketing expense increased by $ 23.2 million in 2016 compared to 2015 primarily due to a $ 13.2 million increase in personnel costs , resulting from an increase in headcount from 314 as of december 31 , 2015 to 346 as of december 31 , 2016 as well as the timing effect of when our headcount additions were hired in 60 2016 and 2015 , to actively market and develop additional sales of our products and services . included in the increase in personnel cost was a $ 3.5 million increase in stock-based compensation expense and $ 2.6 million of additional costs attributable to the logentries acquisition due to 2016 including a full year of expense . our increase in sales and marketing expense also included a $ 3.3 million increase in allocated overhead driven largely by an increase in it and facilities costs , a $ 2.2 million increase in marketing expense driven largely by continued investments in attracting new customers , a $ 2.1 million increase in partner referral fees , a $ 1.2 million increase in travel and entertainment expense , a $ 0.7 million increase in recruiting and training costs , a $ 0.3 million increase in professional fees and $ 0.2 million of other expenses . general and administrative expense replace_table_token_21_th general and administrative expense increased by $ 6.6 million in 2016 compared to 2015 primarily due to a $ 3.7 million increase in personnel costs as a result of an increase in headcount from 97 as of december 31 , 2015 to 126 as of december 31 , 2016 as well as the timing effect of when our headcount additions were hired in 2016 and 2015 , to support our overall company growth as well as operations as a public company . included in the increase in personnel costs was a $ 2.0 million increase in stock-based compensation expense . our increase in general and administrative expense also included a $ 0.9 million increase in professional fees related to global structuring of our intellectual property and international business operations , a $ 0.6 million increase in allocated overhead , driven by higher it and facilities costs , a $ 0.4 million increase in recruiting and relocation costs related to certain key employees , a $ 0.5 million increase in amortization expense largely due to the logentries acquisition , a $ 0.4 million increase in insurance costs , and $ 0.4 million related to a settlement and licensing agreement with a third party , partially offset by a $ 0.3 million decrease in other expenses . interest income ( expense ) , net replace_table_token_22_th interest income ( expense ) , net increased by $ 2.7 million in 2016 compared to 2015 primarily due to the repayment in full and termination of our term loan in july 2015. other income ( expense ) , net replace_table_token_23_th other income ( expense ) , net reflected a $ 0.2 million decrease in expense in 2016 compared to 2015 primarily due to realized and unrealized foreign currency gains and losses . 61 income tax ( benefit ) provision replace_table_token_24_th income tax ( benefit ) expense decreased by $ 0.5 million in 2016 compared to 2015 primarily due to recognition of research and development tax credits in canada , ireland and the uk , as well as the impact related to the restructuring of our international business operations . year ended december 31 , 2015 compared to the year ended december 31 , 2014 revenue replace_table_token_25_th total revenue increased by $ 33.6 million in 2015 compared to 2014 primarily due to an increase of $ 17.8 million in revenue recognized from our deferred revenue balance . the remaining increase was the result of increased purchases of additional products and services of $ 8.9 million by our existing customers and $ 6.9 million from increased sales to new customers . the increase in total revenue in 2015 was comprised of $ 29.0 million from north america and $ 4.6 million from the rest of the world . we added 1,399 net new customers in 2015 , bringing our

