Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v3.7.0.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Operating activities    
Net loss $ (407,403) $ (191,435)
Adjustments to reconcile net loss to net cash used in operating activities    
Goodwill impairment 131,997 0
Depreciation and amortization 35,115 27,637
Stock-based compensation 68,226 71,087
Amortization of premium on investments, net 73 247
Other operating activities 186 179
Amortization of debt discount 9,799 8,938
Bad debt 9,274 1,295
Changes in operating assets and liabilities    
Accounts receivable 12,594 12,139
Prepaid content acquisition costs 6,441 (7,271)
Prepaid expenses and other assets (11,664) (8,869)
Accounts payable, accrued and other current liabilities 15,072 (17,409)
Accrued content acquisition costs (5,475) 26,177
Accrued compensation (13,191) 5,497
Other long-term liabilities 176 1
Deferred revenue 4,116 8,812
Reimbursement of cost of leasehold improvements 5,236 4,397
Net cash used in operating activities (139,428) (58,578)
Investing activities    
Purchases of property and equipment (8,541) (34,564)
Internal-use software costs (10,894) (14,310)
Changes in restricted cash 642 250
Purchases of investments 0 (11,091)
Proceeds from maturities of investments 25,274 20,007
Proceeds from sale of investments 0 500
Payments related to acquisitions, net of cash acquired 0 (676)
Net cash (used in) provided by investing activities 5,197 (40,384)
Financing activities    
Proceeds from issuance of redeemable convertible preferred stock 172,500 0
Payments of issuance costs (12,625) (32)
Proceeds from employee stock purchase plan 6,146 3,837
Proceeds from exercise of stock options 3,138 1,873
Tax payments from net share settlements of restricted stock units 0 (2,761)
Net cash provided by financing activities 169,159 2,917
Effect of exchange rate changes on cash and cash equivalents 292 (255)
Net (decrease) increase in cash and cash equivalents 35,220 (96,300)
Cash and cash equivalents at beginning of period 199,944 334,667
Less: Cash held for sale (25,583) 0
Cash and cash equivalents at end of period 209,581 238,367
Supplemental disclosures of cash flow information    
Cash paid during the period for interest 4,827 3,228
Purchases of property and equipment recorded in accounts payable and accrued liabilities 1,885 5,308
Accretion of preferred stock issuance costs 13,935 0
Stock dividend payable to preferred stockholders $ 595 $ 0