the majority of our revenue is earned from subscription contracts under which we provide advertisers with access to our search , social and display advertising management platform , either directly or through the advertiser 's relationship with an agency that has a contract with us . in accordance with the subscription contracts , we charge fees generally based upon the amount of advertising spend that our customers manage through our platform . our search subscription contracts are generally one year or longer in length , while initial social and display contracts may vary in duration . under our subscription contracts with most of our direct advertisers and some of our agency customers , customers are contractually committed to a minimum monthly platform fee , which is payable on a monthly basis over the duration of the contract and is generally greater than one-half of our estimated monthly revenues from these customers , at the time the contract is signed . however , most of our subscription contracts with our advertising agency customers do not include a committed minimum monthly platform fee . our contractual arrangement is with the advertising agency and the advertiser is not a party to the terms of the contract . accordingly , most advertisers through our agency customers do not have a commitment to use our services and the advertisers may be added or removed from our platform at the discretion of the respective agency . we invoice the advertising agency for the amounts due under the contract . historically , approximately half of our revenues have been earned from advertising agency customers . our subscription fee under most contracts is variable based upon the value of advertising spend that our customers manage through our platform . our deferred revenues consist of the unearned portion of billed subscription fees . under our subscription contracts , we generally begin invoicing our customers the first day of the month following the execution of the contract . we generally invoice the greater of the minimum monthly platform fee or the percentage of advertising spend on our platform . the implementation process for new advertisers is typically four to six weeks ; however , we generally have not charged a separate implementation fee under our standard subscription contracts . 30 our implementation and customer sup port personnel , as well as costs associated with our operating infrastructure , are included in our cost of revenues . our cost of revenues and operating expenses are reflective of the headcount needed to grow our business and to increase data center capacit y to support customer revenue growth on our platform . our cost of revenues may increase in absolute dollars as we continue to invest in our growth . to grow revenues , we need to invest in ( 1 ) sales activities by adding sales representatives globally to target new advertisers and agencies and ( 2 ) research and development to improve and further expand our platform and support for additional publishers . these activities will require us to make investments , particularly in research and development and sales and marketing , and if these investments do not generate additional customers or additional advertising spend managed by our platform , our future operating results could be harmed . the majority of our revenues are derived from our advertisers in the united states . we believe the markets outside of the united states offer an opportunity for growth , and we continue investing in our international capabilities and operations to expand in these markets . advertisers from outside of the united states represented 31 % , 33 % and 34 % of total revenues for 2016 , 2015 and 2014 , respectively . we were incorporated in 2006 and initially focused on building the core elements of our cloud-based platform , which we currently use to service our customers . in september 2007 , we launched marin enterprise , which targets large advertisers and agencies . we released marin professional edition in march 2011 , which targets mid-market advertisers and agencies . we have an iterative development process and we typically release new features every month . additionally , we have expanded internationally since our incorporation , opening our hamburg , paris and sydney offices in 2011 , our dublin and tokyo offices in 2012 and our shanghai office in 2013. we completed our acquisitions of socialmoov s.a.s . and nowspots , inc. , which conducted business as perfect audience , in february 2015 and june 2014 , respectively , to complement our product offerings . these acquisitions are more fully described in note 3 to the consolidated financial statements . components of results of operations revenues we generate revenues principally from subscription contracts under which we provide advertisers with access to our search , social and display advertising management platform , either directly or through the advertiser 's relationship with an agency with whom we have a contract . under these subscription contracts , we charge fees generally based upon the amount of advertising spend that our customers manage through our platform . our search subscription contracts are generally one year or longer in length , while initial social and display contracts may vary in duration . under our contracts with advertising agencies , the advertiser is not a party to the terms of the contract . accordingly , most advertisers operating through agencies do not have a minimum commitment to use our services , and the advertisers may be added or removed from our platform at the discretion of the respective agency . we invoice the advertising agency for the amounts due under the contract . under our subscription contracts with most direct advertisers and some of our agency customers , customers contractually commit to a minimum monthly platform fee , which is generally greater than one-half of our estimated monthly revenues from these customers , at the time the contract is signed . story_separator_special_tag the remaining $ 1.8 million increase during the year is primarily the result of an increase in professional fees of $ 0.6 million due to the usage of third-party resources to support the engineering and quality assurance functions ; an increase in allocated overhead of $ 0.6 million due to the growth in headcount ; and an increase in amortization expense of $ 0.6 million related to the intangible assets acquired as part of the perfect audience and socialmoov acquisitions . general and administrative replace_table_token_24_th general and administrative expenses increased $ 1.1 million , or 5 % , respectively , as compared to 2014. this was due primarily to an increase in compensation , benefits and other employee-related expenses of $ 0.9 million during 2015 due to fluctuations in the number of general and administrative personnel and the granting of additional equity awards to our existing employees . facilities expenses increased $ 1.4 million from the prior year due to our global expansion and rent increases associated with certain of our leases , but were largely offset due to decreases in professional fees of $ 1.0 million , primarily as a result of efficiencies realized by our service providers , and recruiting costs of $ 0.4 million , due primarily to scaling back growth in headcount . interest expense , net and other income ( expenses ) , net replace_table_token_25_th other income ( expenses ) , net , primarily consists of foreign currency transaction gains and losses . during 2015 , the decrease of $ 0.7 million in interest expense , net and other income ( expenses ) , net , was primarily due to fluctuations in our net foreign currency gains and losses as a result of changes in foreign exchange rates . ( provision for ) benefit from income taxes years ended december 31 , change 2015 2014 $ % ( dollars in thousands ) ( provision for ) benefit from income taxes $ ( 1,005 ) $ 1,456 $ ( 2,461 ) ( 169 ) % the provision for income taxes for 2015 of $ 1.0 million was primarily the result of increased profits generated from our foreign operations , while the benefit from income taxes for 2014 of $ 1.4 million was primarily due to a decrease in our valuation allowances as a result of deferred tax liabilities recorded as part of the acquisition of perfect audience . 38 quarterly results of operations the following table sets forth our unaudited quarterly consolidated statements of operations data for each of the eight quarters in the period ended december 31 , 2016. we have prepared the quarterly data on a basis consistent with our audited annual financial statements , including , in the opinion of management , all normal recurring adjustments necessary for the fair statement of the financial information contained in these statements . the historical results are not necessarily indicative of future results and should be read in conjunction with our consolidated financial statements and the related notes included elsewhere in this annual report on form 10-k. replace_table_token_26_th ( 1 ) stock-based compensation expense included in the consolidated statements of operations data above was as follows : replace_table_token_27_th ( 2 ) amortization of intangible assets included in the consolidated statements of operations data above was as follows : replace_table_token_28_th 39 ( 3 ) restructuring related expenses included in the consolidated statements of operations data above was as follows : replace_table_token_29_th the following table sets forth our consolidated results of operations for the specified periods as a percentage of our revenues for those periods . percentage of revenue figures are rounded and therefore may not subtotal exactly . replace_table_token_30_th story_separator_special_tag 41 of the collection of minimum fees at the start of our subscriptio n agreements ; and ( 4 ) a net decrease in accounts payable and accrued expenses and other current and noncurrent liabilities of $ 0.1 million due to the timing of related disbursements and customer advances . this was partially offset by non-cash expenses of $ 16.5 million , which included depreciation , amortization , stock-based compensation expense and deferred income tax benefits , which increased primarily due to capital expenses and headcount growth , primarily related to continued investment in our business , a s well as the acquisition of perfect audience . investing activities during 2016 , 2015 and 2014 , investing activities primarily consisted of purchases of property and equipment , including technology hardware and software to support our business , as well as capitalized internally developed software costs . purchases of property and equipment may vary from period-to-period due to the timing of the expansion of our operations and the development cycles of our internally developed hosted software platform . we expect to continue to invest in property and equipment and developing our software platform for the foreseeable future . investing activities during 2015 and 2014 are also inclusive of cash paid for the acquisitions of socialmoov ( $ 8.9 million , net of cash acquired of $ 1.2 million ) and perfect audience ( $ 5.3 million , net of cash acquired of $ 1.1 million ) , respectively . financing activities cash used in financing activities in 2016 totaled $ 0.4 million . this was primarily due to $ 1.4 million in net repayments under our capital lease arrangements , partially offset by $ 1.1 million of proceeds from the exercise of stock options and contributions to our employee stock purchase plan . cash used in financing activities in 2015 totaled $ 1.3 million . this was primarily due to $ 3.6 million in net repayments under the loans assumed in the socialmoov acquisition , our credit facility and our capital lease arrangements , partially offset by $ 2.4 million of proceeds from the exercise of stock options and contributions to our employee stock purchase plan . cash provided by financing activities in 2014 was $ 0.9 million . this was primarily related to $ 3.9 million of

liquidity and capital resources since our incorporation in march 2006 , we have relied primarily on sales of our capital stock to fund our operating activities . from incorporation until our ipo , we raised $ 105.7 million , net of related issuance costs , in funding through private placements of our preferred stock . in march and april 2013 , we raised net proceeds of $ 109.3 million in our ipo . from time to time , we have also utilized equipment lines and entered into capital lease arrangements to fund capital purchases . as of december 31 , 2016 , our principal sources of liquidity were our unrestricted cash and cash equivalents of $ 34.4 million and our capital lease arrangements . the approximate weighted average interest rate on our outstanding borrowings as of december 31 , 2016 was 5.6 % . our primary operating cash requirements include the payment of compensation and related costs , as well as costs for our facilities and information technology infrastructure . in december 2016 , we terminated our existing revolving credit facility , which provided access to borrowings at the lesser of $ 20.0 million or 80 % of eligible accounts receivable . no amounts were outstanding under this revolving credit facility at the date of termination , and we determined that it was no longer necessary . we maintain a $ 1.3 million irrevocable letter of credit to secure the non-cancelable lease for our corporate headquarters in san francisco , which was previously collateralized by the revolving credit facility . following the termination of that facility , we were required to restrict $ 1.3 million of our cash and cash equivalents from use to secure this letter of credit . this balance is reflected as restricted cash on the consolidated balance sheets of the accompanying consolidated financial statements . 40 we presently maintain cash balances in our foreign subsidiaries . as of december 31 , 2016 , we had $ 34.4 million of unrestricted cash and cash e quivalents in aggregate , of which $ 14.2 million was held by our foreign subsidiaries .


 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 since our incorporation in march 2006 , we have relied primarily on sales of our capital stock to fund our operating activities . from incorporation until our ipo , we raised $ 105.7 million , net of related issuance costs , in funding through private placements of our preferred stock . in march and april 2013 , we raised net proceeds of $ 109.3 million in our ipo . from time to time , we have also utilized equipment lines and entered into capital lease arrangements to fund capital purchases . as of december 31 , 2016 , our principal sources of liquidity were our unrestricted cash and cash equivalents of $ 34.4 million and our capital lease arrangements . the approximate weighted average interest rate on our outstanding borrowings as of december 31 , 2016 was 5.6 % . our primary operating cash requirements include the payment of compensation and related costs , as well as costs for our facilities and information technology infrastructure . in december 2016 , we terminated our existing revolving credit facility , which provided access to borrowings at the lesser of $ 20.0 million or 80 % of eligible accounts receivable . no amounts were outstanding under this revolving credit facility at the date of termination , and we determined that it was no longer necessary . we maintain a $ 1.3 million irrevocable letter of credit to secure the non-cancelable lease for our corporate headquarters in san francisco , which was previously collateralized by the revolving credit facility . following the termination of that facility , we were required to restrict $ 1.3 million of our cash and cash equivalents from use to secure this letter of credit . this balance is reflected as restricted cash on the consolidated balance sheets of the accompanying consolidated financial statements . 40 we presently maintain cash balances in our foreign subsidiaries . as of december 31 , 2016 , we had $ 34.4 million of unrestricted cash and cash e quivalents in aggregate , of which $ 14.2 million was held by our foreign subsidiaries .
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 Suspicious Activity Report : the majority of our revenue is earned from subscription contracts under which we provide advertisers with access to our search , social and display advertising management platform , either directly or through the advertiser 's relationship with an agency that has a contract with us . in accordance with the subscription contracts , we charge fees generally based upon the amount of advertising spend that our customers manage through our platform . our search subscription contracts are generally one year or longer in length , while initial social and display contracts may vary in duration . under our subscription contracts with most of our direct advertisers and some of our agency customers , customers are contractually committed to a minimum monthly platform fee , which is payable on a monthly basis over the duration of the contract and is generally greater than one-half of our estimated monthly revenues from these customers , at the time the contract is signed . however , most of our subscription contracts with our advertising agency customers do not include a committed minimum monthly platform fee . our contractual arrangement is with the advertising agency and the advertiser is not a party to the terms of the contract . accordingly , most advertisers through our agency customers do not have a commitment to use our services and the advertisers may be added or removed from our platform at the discretion of the respective agency . we invoice the advertising agency for the amounts due under the contract . historically , approximately half of our revenues have been earned from advertising agency customers . our subscription fee under most contracts is variable based upon the value of advertising spend that our customers manage through our platform . our deferred revenues consist of the unearned portion of billed subscription fees . under our subscription contracts , we generally begin invoicing our customers the first day of the month following the execution of the contract . we generally invoice the greater of the minimum monthly platform fee or the percentage of advertising spend on our platform . the implementation process for new advertisers is typically four to six weeks ; however , we generally have not charged a separate implementation fee under our standard subscription contracts . 30 our implementation and customer sup port personnel , as well as costs associated with our operating infrastructure , are included in our cost of revenues . our cost of revenues and operating expenses are reflective of the headcount needed to grow our business and to increase data center capacit y to support customer revenue growth on our platform . our cost of revenues may increase in absolute dollars as we continue to invest in our growth . to grow revenues , we need to invest in ( 1 ) sales activities by adding sales representatives globally to target new advertisers and agencies and ( 2 ) research and development to improve and further expand our platform and support for additional publishers . these activities will require us to make investments , particularly in research and development and sales and marketing , and if these investments do not generate additional customers or additional advertising spend managed by our platform , our future operating results could be harmed . the majority of our revenues are derived from our advertisers in the united states . we believe the markets outside of the united states offer an opportunity for growth , and we continue investing in our international capabilities and operations to expand in these markets . advertisers from outside of the united states represented 31 % , 33 % and 34 % of total revenues for 2016 , 2015 and 2014 , respectively . we were incorporated in 2006 and initially focused on building the core elements of our cloud-based platform , which we currently use to service our customers . in september 2007 , we launched marin enterprise , which targets large advertisers and agencies . we released marin professional edition in march 2011 , which targets mid-market advertisers and agencies . we have an iterative development process and we typically release new features every month . additionally , we have expanded internationally since our incorporation , opening our hamburg , paris and sydney offices in 2011 , our dublin and tokyo offices in 2012 and our shanghai office in 2013. we completed our acquisitions of socialmoov s.a.s . and nowspots , inc. , which conducted business as perfect audience , in february 2015 and june 2014 , respectively , to complement our product offerings . these acquisitions are more fully described in note 3 to the consolidated financial statements . components of results of operations revenues we generate revenues principally from subscription contracts under which we provide advertisers with access to our search , social and display advertising management platform , either directly or through the advertiser 's relationship with an agency with whom we have a contract . under these subscription contracts , we charge fees generally based upon the amount of advertising spend that our customers manage through our platform . our search subscription contracts are generally one year or longer in length , while initial social and display contracts may vary in duration . under our contracts with advertising agencies , the advertiser is not a party to the terms of the contract . accordingly , most advertisers operating through agencies do not have a minimum commitment to use our services , and the advertisers may be added or removed from our platform at the discretion of the respective agency . we invoice the advertising agency for the amounts due under the contract . under our subscription contracts with most direct advertisers and some of our agency customers , customers contractually commit to a minimum monthly platform fee , which is generally greater than one-half of our estimated monthly revenues from these customers , at the time the contract is signed . story_separator_special_tag the remaining $ 1.8 million increase during the year is primarily the result of an increase in professional fees of $ 0.6 million due to the usage of third-party resources to support the engineering and quality assurance functions ; an increase in allocated overhead of $ 0.6 million due to the growth in headcount ; and an increase in amortization expense of $ 0.6 million related to the intangible assets acquired as part of the perfect audience and socialmoov acquisitions . general and administrative replace_table_token_24_th general and administrative expenses increased $ 1.1 million , or 5 % , respectively , as compared to 2014. this was due primarily to an increase in compensation , benefits and other employee-related expenses of $ 0.9 million during 2015 due to fluctuations in the number of general and administrative personnel and the granting of additional equity awards to our existing employees . facilities expenses increased $ 1.4 million from the prior year due to our global expansion and rent increases associated with certain of our leases , but were largely offset due to decreases in professional fees of $ 1.0 million , primarily as a result of efficiencies realized by our service providers , and recruiting costs of $ 0.4 million , due primarily to scaling back growth in headcount . interest expense , net and other income ( expenses ) , net replace_table_token_25_th other income ( expenses ) , net , primarily consists of foreign currency transaction gains and losses . during 2015 , the decrease of $ 0.7 million in interest expense , net and other income ( expenses ) , net , was primarily due to fluctuations in our net foreign currency gains and losses as a result of changes in foreign exchange rates . ( provision for ) benefit from income taxes years ended december 31 , change 2015 2014 $ % ( dollars in thousands ) ( provision for ) benefit from income taxes $ ( 1,005 ) $ 1,456 $ ( 2,461 ) ( 169 ) % the provision for income taxes for 2015 of $ 1.0 million was primarily the result of increased profits generated from our foreign operations , while the benefit from income taxes for 2014 of $ 1.4 million was primarily due to a decrease in our valuation allowances as a result of deferred tax liabilities recorded as part of the acquisition of perfect audience . 38 quarterly results of operations the following table sets forth our unaudited quarterly consolidated statements of operations data for each of the eight quarters in the period ended december 31 , 2016. we have prepared the quarterly data on a basis consistent with our audited annual financial statements , including , in the opinion of management , all normal recurring adjustments necessary for the fair statement of the financial information contained in these statements . the historical results are not necessarily indicative of future results and should be read in conjunction with our consolidated financial statements and the related notes included elsewhere in this annual report on form 10-k. replace_table_token_26_th ( 1 ) stock-based compensation expense included in the consolidated statements of operations data above was as follows : replace_table_token_27_th ( 2 ) amortization of intangible assets included in the consolidated statements of operations data above was as follows : replace_table_token_28_th 39 ( 3 ) restructuring related expenses included in the consolidated statements of operations data above was as follows : replace_table_token_29_th the following table sets forth our consolidated results of operations for the specified periods as a percentage of our revenues for those periods . percentage of revenue figures are rounded and therefore may not subtotal exactly . replace_table_token_30_th story_separator_special_tag 41 of the collection of minimum fees at the start of our subscriptio n agreements ; and ( 4 ) a net decrease in accounts payable and accrued expenses and other current and noncurrent liabilities of $ 0.1 million due to the timing of related disbursements and customer advances . this was partially offset by non-cash expenses of $ 16.5 million , which included depreciation , amortization , stock-based compensation expense and deferred income tax benefits , which increased primarily due to capital expenses and headcount growth , primarily related to continued investment in our business , a s well as the acquisition of perfect audience . investing activities during 2016 , 2015 and 2014 , investing activities primarily consisted of purchases of property and equipment , including technology hardware and software to support our business , as well as capitalized internally developed software costs . purchases of property and equipment may vary from period-to-period due to the timing of the expansion of our operations and the development cycles of our internally developed hosted software platform . we expect to continue to invest in property and equipment and developing our software platform for the foreseeable future . investing activities during 2015 and 2014 are also inclusive of cash paid for the acquisitions of socialmoov ( $ 8.9 million , net of cash acquired of $ 1.2 million ) and perfect audience ( $ 5.3 million , net of cash acquired of $ 1.1 million ) , respectively . financing activities cash used in financing activities in 2016 totaled $ 0.4 million . this was primarily due to $ 1.4 million in net repayments under our capital lease arrangements , partially offset by $ 1.1 million of proceeds from the exercise of stock options and contributions to our employee stock purchase plan . cash used in financing activities in 2015 totaled $ 1.3 million . this was primarily due to $ 3.6 million in net repayments under the loans assumed in the socialmoov acquisition , our credit facility and our capital lease arrangements , partially offset by $ 2.4 million of proceeds from the exercise of stock options and contributions to our employee stock purchase plan . cash provided by financing activities in 2014 was $ 0.9 million . this was primarily related to $ 3.9 million of

