accordance with GAAP. This information should be read in conjunction with our combined financial statements and related notes included elsewhere in this prospectus. These quarterly operating results are not necessarily indicative of our operating results for a full year or any future period. Urn months ended Mn 31, Jun 30, tin 30, Doc 31, Mar 31, Jun 30, Sep 30, Dec 31, Mar 31, Jun 30, Sop 30, 2013 2013 2013 2013 2014 2014 2014 2014 2015 2016 2015 (In thousands) Revenue $192,555 $197468 $204.521 $208,545 $209.785 $211,906 $227581 $238.996 $235,089 $248.817 $268.971 Operating costs and expenses Cost c4 revenue (exclusive of depreciation storm separately beksv) 20.164 20.827 21.700 23,254 24.145 24487 33447 37.945 38,953 44.529 47.636 Setting and ins Nee ng expense 92460 77.729 82 997 68.684 101,577 83,014 66.645 63.871 111.965 88.181 89.698 General and adminstrative expense 26,592 24,980 22.046 20.023 23,273 28,054 23,024 43.539 29.738 45.584 45,981 Product development expense 10.529 10,038 10682 11,724 12,479 11,633 12,502 13,124 10451 17,478 10811 Depreciate) 4,706 4,838 5,043 5,615 5,7/8 5,570 5,774 8,425 7,045 6,622 6,137 Arrolization of .'tangibles 4.540 5,105 3.153 4327 1,837 1.683 3,321 4554 3,877 5 901 4,352 Total operate? costs and expenses 158.991 143.517 145621 133.627 189.089 154,441 164.713 171.458 208.029 208.295 210.615 Operating income 5 33.554 5 53.951 $ 58.900 S 74,918 5 43,696 5 57.465 5 67 868 5 67.538 5 27,040 S io,sn $ 58,356 The following table reconciles Adjusted EBITDA to operating Income for each of the eleven quarters ended September 30. 2015. Three months ended Mar 31, 2013 Jun 30, 2013 Sep 30, 2013 Doc 31, 2013 Mar 31, 2014 Jun 30, Sep 30, 2014 2014 Dec Jun Sep 31, Mar 31, 30, 30, 2014 2015 2015 2015 Operating income Stour-based compensation expense Depreciation Amoneation of alangibles Acquisition-re