Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.8.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Operating activities      
Net loss $ (518,395) $ (342,978) $ (169,661)
Adjustments to reconcile net loss to net cash used in operating activities      
Goodwill impairment 131,997 0 0
Loss on sales of subsidiaries 9,378 0 0
Depreciation and amortization 62,948 60,757 24,458
Stock-based compensation 128,431 138,458 111,645
Amortization of premium on investments, net 81 405 1,911
Accretion of discount on convertible promissory note receivable (687) 0 0
Other operating activities 447 881 196
Amortization of debt discount 20,153 18,315 1,084
Interest income (1,081) 0 0
Provision for bad debt 12,211 3,522 1,938
Changes in restricted cash 1,257 0 0
Changes in assets and liabilities      
Accounts receivable (36,760) (35,710) (55,904)
Prepaid content acquisition costs (9,358) (44,211) (1,399)
Prepaid expenses and other assets (16,566) (12,321) (17,519)
Accounts payable, accrued and other current liabilities 9,053 5,294 18,080
Accrued content acquisition costs 4,016 (3,668) 23,736
Accrued compensation (10,679) 15,364 7,378
Other long-term liabilities (3,007) 1,384 6,005
Deferred revenue 3,105 8,420 4,946
Reimbursement of cost of leasehold improvements 5,261 4,397 1,024
Net cash used in operating activities (210,709) (181,691) (42,082)
Investing activities      
Purchases of property and equipment (15,656) (59,769) (23,512)
Internal-use software costs (20,157) (30,210) (8,562)
Changes in restricted cash (642) (250) 0
Purchases of investments 0 (12,413) (140,980)
Proceeds from maturities of investments 42,082 47,656 228,998
Proceeds from sales of investments 0 3,507 111,356
Proceeds from sales of subsidiaries, net of cash 124,319 0 0
Payments related to acquisitions, net of cash acquired 0 (676) (269,566)
Net cash (used in) provided by investing activities 129,946 (52,155) (102,266)
Financing activities      
Proceeds from issuance of redeemable convertible preferred stock 480,000 0 0
Payments of issuance costs (30,511) (32) (8,909)
Proceeds from issuance of convertible notes 0 0 345,000
Payments for purchase of capped call 0 0 (43,160)
Repayment of debt arrangements 90,000 0 0
Borrowings under debt arrangements 0 90,000 0
Proceeds from employee stock purchase plan 10,926 9,701 7,552
Proceeds from exercise of stock options 9,778 3,457 5,192
Tax payments from net share settlements of restricted stock units 0 (3,369) (2,540)
Net cash provided by financing activities 380,193 99,757 303,135
Effect of exchange rate changes on cash and cash equivalents 223 (634) (77)
Net increase (decrease) in cash and cash equivalents 299,653 (134,723) 158,710
Cash and cash equivalents at beginning of period 199,944 334,667 175,957
Cash and cash equivalents at end of period 499,597 199,944 334,667
Supplemental disclosures of cash flow information      
Cash paid during the period for income taxes 209 297 389
Cash paid during the period for interest 8,981 7,222 351
Purchases of property and equipment recorded in accounts payable and accrued liabilities 2,106 1,129 5,890
Fair value of shares issued related to the acquisition of a business 0 0 146,855
Accretion of preferred stock issuance costs 29,317 0 0
Stock dividend payable to preferred stockholders 10,849 0 0
Fair value of convertible promissory note receivable received as partial consideration for sale of subsidiary $ 36,203 $ 0 $ 0