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EFTA01377687

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S-1/A Other income and expense for the nine months ended September 30, 2015, increased by $0.7 million compared to the nine months ended September 30, 2014, driven primarily by fluctuations in foreign exchange rates. Provision for Income Taxes The following table sets forth our provision for income taxes for the periods shown: Nine Months Ended September 30, Provision (benefit) for income taxes Effective tax rate 2014 2015 (in thousands) (unaudited) (257) 2,502 -% (2)% S Change % Change $ 2,759 NM Provision for income taxes for the nine months ended September 30, 2015. increased by $2.8 million compared to the nine months ended September 30, 2014, primarily due to the decrease in income tax benefit arising from acquisitions. 80 Table of Content's Comparison of Years Ended December 31, 2012, 2013, and 2014 Total Net Revenue The following table sets forth our total net revenue for the periods shown: Year Ended December 31, 2012 to 2013 % Change 2013 to 2014 % Change 2012 2013 2014 (in thousands) Transaction revenue $193,978 $433,737 $707.799 124% 63% Starbucks transaction revenue 9,471 114,456 123,024 NM 7% Software and data product revenue 12.046 —% NM Hardware revenue 4,240 7,323 NM 73% Total net revenue $203,449 $552,433 $850,192 172% 54% Comparison of Years Ended December 31, 2013 and 2014 Total net revenue for the year ended December 31, 2014, increased by $297.8 million, or 54%, compared to the year ended December 31, 2013. Transaction revenue for the year ended December 31, 2014, increased by $274.1 million, or 63%. compared to the year ended December 31, 2013. This increase was attributable to growth in GPV processed of $9.0 billion, or 60%, to $23.8 billion from $14.8 billion. A relatively greater proportion of growth in GPV was derived from new sellers added within the year ended December 31, 2014; a smaller though still meaningful portion was generated by growth in GPV from the payment a

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