for larger organizations , our sales team focuses on leveraging users in existing accounts to broaden our footprint across the organization . we offer access to our platform and suite of products under subscription plans that also include service and support . we offer a variety of pricing plans based on the particular product purchased by an account , number of servers monitored , number of applications monitored or number of mobile devices monitored . our plans typically have terms of one year , although some of our customers commit for shorter or longer periods . we recognize revenue from 41 subscription fees ratably over the service period . most of our customers pay us on a monthly basis . as a result , our deferred revenue at any given period of time has historically been relatively low . as we begin to sell more to larger organizations , we expect to invoice more of our customers on a less frequent basis , and therefore , we expect our deferred revenue to increase over time . however , due to our mix of subscription plans and billing frequencies , we do not believe that changes in our deferred revenue in a given period are directly correlated with our revenue growth . we have grown rapidly in recent periods , with revenues for the fiscal years ended march 31 , 2015 , 2014 , and 2013 of $ 110.4 million , $ 63.2 million , and $ 29.7 million , respectively , representing year-over-year growth of 75 % from the fiscal year ended march 31 , 2014 to the fiscal year ended march 31 , 2015 and 113 % from the fiscal year ended march 31 , 2013 to the fiscal year ended march 31 , 2014. we expect that the rate of growth in our revenue will decline as our business scales , even if our revenue continues to grow in absolute terms . we have continued to make significant expenditures and investments , including in personnel-related costs , sales and marketing , infrastructure and operations , and have incurred net losses in each period since our inception , including net losses of $ 50.1 million , $ 40.2 million , and $ 22.5 million for the fiscal years ended march 31 , 2015 , 2014 , and 2013 , respectively . our accumulated deficit as of march 31 , 2015 was $ 131.6 million . our employee headcount has increased to 661 employees as of march 31 , 2015 from 435 as of march 31 , 2014 , and our number of paid business accounts from 9,117 to 11,910 over the same period , and we plan to continue to aggressively invest in the growth of our business to take advantage of our market opportunity . we intend to continue to increase our investment in sales and marketing , as we further expand our sales teams , increase our marketing activities , and grow our international operations , particularly as we increase our sales to larger organizations . internationally , we currently offer our products in europe , middle east , and africa , or emea , asia-pacific , or apac , and other non-u.s. locations , as determined based on the billing address of our customers , and our revenue from those regions constituted 19 % , 8 % , and 7 % , respectively , of our revenue for the year ended march 31 , 2015 , and 17 % , 7 % , and 6 % , respectively , of our revenue for the year ended march 31 , 2014. we believe there is further opportunity to increase our international revenue overall and as a proportion of our revenue , and we are increasingly investing in our international operations and intend to invest in further expanding our footprint in international markets , including through our october 2014 acquisition of barcelona-based few ducks , s.l , or ducksboard , pursuant to which we acquired all of the outstanding shares of ducksboard . to support the growth of our customer base , we also intend to increase our investment in our support organization and infrastructure . in addition , we plan to continue to invest in our research and development organization to enhance and further develop our products . while these areas represent significant opportunities for us , we also face significant risks and challenges that we must successfully address in order to sustain the growth of our business and improve our operating results . due to our continuing investments to grow our business , in advance of and in preparation for our expected increase in sales and expansion of our paid business accounts , we are continuing to incur expenses in the near term from which we may not realize any long-term benefit . in addition , any investments that we make in sales and marketing or other areas will occur in advance of our experiencing any benefits from such investments , so it may be difficult for us to determine if we are efficiently allocating our resources in these areas . as a result , we have never achieved profitability and we do not expect to be profitable for the foreseeable future . further , our reported revenue , operating results , and cash flows for a given period may not be indicative of future results due to our limited operating history and fluctuations in the number of new employees , the rate of our expansion , the timing of expenses we incur to grow our business and operations , levels of competition , and market demand for our products . factors affecting our performance market adoption of our products . we are defining a new category of software , which we refer to as software analytics . our success is dependent on the market adoption of this emerging category of software , which may not yet be well understood by the market . story_separator_special_tag million . sales and marketing expenses increased $ 29.8 million , or 105 % , in the fiscal year ended march 31 , 2014 compared to the fiscal year ended march 31 , 2013. the increase was primarily a result of an increase of personnel-related costs of $ 12.8 million , driven by higher headcount and an increase of sales commissions due to revenue growth , an increase of $ 12.4 million in advertising and marketing programs , and an increase of $ 2.6 million in office rent expense . the remaining increase was due to an increase in consultant fees of $ 0.5 million , an increase in travel expenses of $ 0.5 million , and other miscellaneous expenses . general and administrative replace_table_token_16_th general and administrative expenses increased $ 8.1 million , or 47 % , in the fiscal year ended march 31 , 2015 compared to the fiscal year ended march 31 , 2014. the increase was primarily a result of an increase in personnel-related costs of $ 6.0 million , driven by an increase in headcount , and an increase in outside services of $ 2.1 million due to the costs of compliance associated with being a publicly traded company . general and administrative expenses increased $ 7.1 million , or 71 % , in the fiscal year ended march 31 , 2014 compared to the fiscal year ended march 31 , 2013. the increase was primarily a result of an increase of $ 5.5 million in legal fees due to ongoing litigation , and accounting fees . in addition , personnel-related costs , excluding stock-based compensation expense resulting from transactions with existing investors , increased by $ 2.3 million , driven primarily by an increase in headcount . increase in personnel-related costs was offset by a $ 1.5 million decrease in stock-based compensation expense due to a third-party tender offer and certain stock transactions in the fiscal year ended march 31 , 2013. the remaining increase was due to an increase in rent expense of $ 0.6 million due to new facilities and an increase in insurance fees and other miscellaneous expenses . other expense , net replace_table_token_17_th other expense decreased $ 0.5 million in the fiscal year ended march 31 , 2015 compared to the fiscal year ended march 31 , 2014. the decrease was primarily a result of the change in the fair value of our convertible preferred stock warrants and increase in interest income . 49 other expense increased $ 0.6 million in the fiscal year ended march 31 , 2014 compared to the fiscal year ended march 31 , 2013. the increase was primarily a result of an increase in the fair value of our convertible preferred stock warrants . quarterly results of operations the following tables set forth selected unaudited quarterly consolidated statements of operations data for each of the eight quarters in the period ended march 31 , 2015 , as well as the percentage that each line item represents of our revenue for each quarter . the information for each of these quarters has been prepared on the same basis as the audited annual consolidated financial statements included elsewhere in this report and , in the opinion of management , includes all adjustments of a normal , recurring nature that are necessary for the fair presentation of the results of operations for these periods in accordance with generally accepted accounting principles in the united states . this data should be read in conjunction with our audited consolidated financial statements and related notes included elsewhere in this report . these quarterly operating results are not necessarily indicative of our operating results for a full fiscal year or any future period . replace_table_token_18_th ( 1 ) includes stock-based compensation expense as follows : replace_table_token_19_th 50 replace_table_token_20_th ( 1 ) includes stock-based compensation expense as follows : replace_table_token_21_th quarterly revenue trends our quarterly revenue increased in each period presented due to increased sales to new customers , as well as increasing sales to existing customers . we can not assure you that this trend will continue , and we believe that we may experience seasonality in our business in the future . quarterly gross margin trends our gross margin has remained relatively consistent over all periods presented , with the fluctuations primarily due to the timing and extent of our investments in our operations and global customer support personnel , and hosting-related costs . quarterly expense trends research and development , sales and marketing , and general and administrative expenses generally increased sequentially over the periods as we increased our headcount to support continued investment in our products . the increase in personnel costs was related to increases in headcount , along with higher stock-based compensation expense . 51 story_separator_special_tag the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of income and expenses during the reporting period . these estimates are based on information available as of the date of the consolidated financial statements ; therefore , actual results could differ from our estimates . to the extent that there are material differences between these estimates and actual results , our financial condition or results of operations would be affected . we base our estimates on past experience and other assumptions that we believe are reasonable under the circumstances , and we evaluate these estimates on an ongoing basis . the critical accounting policies requiring estimates , assumptions , and judgments that we believe have the most significant impact on our consolidated financial statements are described below . revenue recognition we generate revenue from subscription-based arrangements that allow our customers to access our products . our sales agreements have contract terms typically for one year in length or less . we recognize revenue when the following criteria are met : ( i ) there is persuasive evidence of an arrangement ; ( ii )

liquidity and capital resources replace_table_token_22_th to date , we have financed our operations primarily through sales of equity securities . since our inception , we have completed several rounds of equity financing through the sale of shares of our series a through series f convertible preferred stock for total cash proceeds to us of $ 193.2 million . in december 2014 we completed our ipo , resulting in aggregate proceeds of approximately $ 123.0 million from the sale of shares of common stock , net of underwriters ' discounts and commissions , but before deducting paid offering expenses of approximately $ 3.1 million . we believe that our existing cash and cash equivalents balance will be sufficient to meet our working capital and 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 continued expansion of sales and marketing activities , the introduction of new and enhanced products , and the continued market acceptance of our products . in the event that additional financing is required from outside sources , we may not be able to raise such financing on terms acceptable to us or at all . if we are unable to raise additional capital when desired , our business , operating results , and financial condition would be adversely affected . cash used in operating activities during the fiscal year ended march 31 , 2015 , operating activities used $ 13.6 million in cash as a result of a net loss of $ 50.1 million , adjusted by non-cash charges of $ 21.2 million and a change of $ 15.8 million in our operating assets and liabilities .


 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 replace_table_token_22_th to date , we have financed our operations primarily through sales of equity securities . since our inception , we have completed several rounds of equity financing through the sale of shares of our series a through series f convertible preferred stock for total cash proceeds to us of $ 193.2 million . in december 2014 we completed our ipo , resulting in aggregate proceeds of approximately $ 123.0 million from the sale of shares of common stock , net of underwriters ' discounts and commissions , but before deducting paid offering expenses of approximately $ 3.1 million . we believe that our existing cash and cash equivalents balance will be sufficient to meet our working capital and 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 continued expansion of sales and marketing activities , the introduction of new and enhanced products , and the continued market acceptance of our products . in the event that additional financing is required from outside sources , we may not be able to raise such financing on terms acceptable to us or at all . if we are unable to raise additional capital when desired , our business , operating results , and financial condition would be adversely affected . cash used in operating activities during the fiscal year ended march 31 , 2015 , operating activities used $ 13.6 million in cash as a result of a net loss of $ 50.1 million , adjusted by non-cash charges of $ 21.2 million and a change of $ 15.8 million in our operating assets and liabilities .
```    
 Suspicious Activity Report : for larger organizations , our sales team focuses on leveraging users in existing accounts to broaden our footprint across the organization . we offer access to our platform and suite of products under subscription plans that also include service and support . we offer a variety of pricing plans based on the particular product purchased by an account , number of servers monitored , number of applications monitored or number of mobile devices monitored . our plans typically have terms of one year , although some of our customers commit for shorter or longer periods . we recognize revenue from 41 subscription fees ratably over the service period . most of our customers pay us on a monthly basis . as a result , our deferred revenue at any given period of time has historically been relatively low . as we begin to sell more to larger organizations , we expect to invoice more of our customers on a less frequent basis , and therefore , we expect our deferred revenue to increase over time . however , due to our mix of subscription plans and billing frequencies , we do not believe that changes in our deferred revenue in a given period are directly correlated with our revenue growth . we have grown rapidly in recent periods , with revenues for the fiscal years ended march 31 , 2015 , 2014 , and 2013 of $ 110.4 million , $ 63.2 million , and $ 29.7 million , respectively , representing year-over-year growth of 75 % from the fiscal year ended march 31 , 2014 to the fiscal year ended march 31 , 2015 and 113 % from the fiscal year ended march 31 , 2013 to the fiscal year ended march 31 , 2014. we expect that the rate of growth in our revenue will decline as our business scales , even if our revenue continues to grow in absolute terms . we have continued to make significant expenditures and investments , including in personnel-related costs , sales and marketing , infrastructure and operations , and have incurred net losses in each period since our inception , including net losses of $ 50.1 million , $ 40.2 million , and $ 22.5 million for the fiscal years ended march 31 , 2015 , 2014 , and 2013 , respectively . our accumulated deficit as of march 31 , 2015 was $ 131.6 million . our employee headcount has increased to 661 employees as of march 31 , 2015 from 435 as of march 31 , 2014 , and our number of paid business accounts from 9,117 to 11,910 over the same period , and we plan to continue to aggressively invest in the growth of our business to take advantage of our market opportunity . we intend to continue to increase our investment in sales and marketing , as we further expand our sales teams , increase our marketing activities , and grow our international operations , particularly as we increase our sales to larger organizations . internationally , we currently offer our products in europe , middle east , and africa , or emea , asia-pacific , or apac , and other non-u.s. locations , as determined based on the billing address of our customers , and our revenue from those regions constituted 19 % , 8 % , and 7 % , respectively , of our revenue for the year ended march 31 , 2015 , and 17 % , 7 % , and 6 % , respectively , of our revenue for the year ended march 31 , 2014. we believe there is further opportunity to increase our international revenue overall and as a proportion of our revenue , and we are increasingly investing in our international operations and intend to invest in further expanding our footprint in international markets , including through our october 2014 acquisition of barcelona-based few ducks , s.l , or ducksboard , pursuant to which we acquired all of the outstanding shares of ducksboard . to support the growth of our customer base , we also intend to increase our investment in our support organization and infrastructure . in addition , we plan to continue to invest in our research and development organization to enhance and further develop our products . while these areas represent significant opportunities for us , we also face significant risks and challenges that we must successfully address in order to sustain the growth of our business and improve our operating results . due to our continuing investments to grow our business , in advance of and in preparation for our expected increase in sales and expansion of our paid business accounts , we are continuing to incur expenses in the near term from which we may not realize any long-term benefit . in addition , any investments that we make in sales and marketing or other areas will occur in advance of our experiencing any benefits from such investments , so it may be difficult for us to determine if we are efficiently allocating our resources in these areas . as a result , we have never achieved profitability and we do not expect to be profitable for the foreseeable future . further , our reported revenue , operating results , and cash flows for a given period may not be indicative of future results due to our limited operating history and fluctuations in the number of new employees , the rate of our expansion , the timing of expenses we incur to grow our business and operations , levels of competition , and market demand for our products . factors affecting our performance market adoption of our products . we are defining a new category of software , which we refer to as software analytics . our success is dependent on the market adoption of this emerging category of software , which may not yet be well understood by the market . story_separator_special_tag million . sales and marketing expenses increased $ 29.8 million , or 105 % , in the fiscal year ended march 31 , 2014 compared to the fiscal year ended march 31 , 2013. the increase was primarily a result of an increase of personnel-related costs of $ 12.8 million , driven by higher headcount and an increase of sales commissions due to revenue growth , an increase of $ 12.4 million in advertising and marketing programs , and an increase of $ 2.6 million in office rent expense . the remaining increase was due to an increase in consultant fees of $ 0.5 million , an increase in travel expenses of $ 0.5 million , and other miscellaneous expenses . general and administrative replace_table_token_16_th general and administrative expenses increased $ 8.1 million , or 47 % , in the fiscal year ended march 31 , 2015 compared to the fiscal year ended march 31 , 2014. the increase was primarily a result of an increase in personnel-related costs of $ 6.0 million , driven by an increase in headcount , and an increase in outside services of $ 2.1 million due to the costs of compliance associated with being a publicly traded company . general and administrative expenses increased $ 7.1 million , or 71 % , in the fiscal year ended march 31 , 2014 compared to the fiscal year ended march 31 , 2013. the increase was primarily a result of an increase of $ 5.5 million in legal fees due to ongoing litigation , and accounting fees . in addition , personnel-related costs , excluding stock-based compensation expense resulting from transactions with existing investors , increased by $ 2.3 million , driven primarily by an increase in headcount . increase in personnel-related costs was offset by a $ 1.5 million decrease in stock-based compensation expense due to a third-party tender offer and certain stock transactions in the fiscal year ended march 31 , 2013. the remaining increase was due to an increase in rent expense of $ 0.6 million due to new facilities and an increase in insurance fees and other miscellaneous expenses . other expense , net replace_table_token_17_th other expense decreased $ 0.5 million in the fiscal year ended march 31 , 2015 compared to the fiscal year ended march 31 , 2014. the decrease was primarily a result of the change in the fair value of our convertible preferred stock warrants and increase in interest income . 49 other expense increased $ 0.6 million in the fiscal year ended march 31 , 2014 compared to the fiscal year ended march 31 , 2013. the increase was primarily a result of an increase in the fair value of our convertible preferred stock warrants . quarterly results of operations the following tables set forth selected unaudited quarterly consolidated statements of operations data for each of the eight quarters in the period ended march 31 , 2015 , as well as the percentage that each line item represents of our revenue for each quarter . the information for each of these quarters has been prepared on the same basis as the audited annual consolidated financial statements included elsewhere in this report and , in the opinion of management , includes all adjustments of a normal , recurring nature that are necessary for the fair presentation of the results of operations for these periods in accordance with generally accepted accounting principles in the united states . this data should be read in conjunction with our audited consolidated financial statements and related notes included elsewhere in this report . these quarterly operating results are not necessarily indicative of our operating results for a full fiscal year or any future period . replace_table_token_18_th ( 1 ) includes stock-based compensation expense as follows : replace_table_token_19_th 50 replace_table_token_20_th ( 1 ) includes stock-based compensation expense as follows : replace_table_token_21_th quarterly revenue trends our quarterly revenue increased in each period presented due to increased sales to new customers , as well as increasing sales to existing customers . we can not assure you that this trend will continue , and we believe that we may experience seasonality in our business in the future . quarterly gross margin trends our gross margin has remained relatively consistent over all periods presented , with the fluctuations primarily due to the timing and extent of our investments in our operations and global customer support personnel , and hosting-related costs . quarterly expense trends research and development , sales and marketing , and general and administrative expenses generally increased sequentially over the periods as we increased our headcount to support continued investment in our products . the increase in personnel costs was related to increases in headcount , along with higher stock-based compensation expense . 51 story_separator_special_tag the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of income and expenses during the reporting period . these estimates are based on information available as of the date of the consolidated financial statements ; therefore , actual results could differ from our estimates . to the extent that there are material differences between these estimates and actual results , our financial condition or results of operations would be affected . we base our estimates on past experience and other assumptions that we believe are reasonable under the circumstances , and we evaluate these estimates on an ongoing basis . the critical accounting policies requiring estimates , assumptions , and judgments that we believe have the most significant impact on our consolidated financial statements are described below . revenue recognition we generate revenue from subscription-based arrangements that allow our customers to access our products . our sales agreements have contract terms typically for one year in length or less . we recognize revenue when the following criteria are met : ( i ) there is persuasive evidence of an arrangement ; ( ii )

