Annual report pursuant to Section 13 and 15(d)

Selected Quarterly Financial Data (unaudited)

v3.8.0.1
Selected Quarterly Financial Data (unaudited)
12 Months Ended
Dec. 31, 2017
Quarterly Financial Information Disclosure [Abstract]  
Selected Quarterly Financial Data (unaudited) Selected Quarterly Financial Data (unaudited)

 
Quarter ended
 
March 31,
 
June 30,
 
September 30,
 
December 31,
 
March 31,
 
June 30,
 
September 30,
 
December 31,
 
2016
 
2016
 
2016
 
2016
 
2017
 
2017
 
2017
 
2017
 
(in thousands, except per share data)
Revenue
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Advertising
$
220,308

 
$
265,126

 
$
273,716

 
$
313,340

 
$
223,308

 
$
278,204

 
$
275,741

 
$
297,674

Subscription and other
54,732

 
55,125

 
56,100

 
59,829

 
64,878

 
68,900

 
84,414

 
97,661

Ticketing service (1)
22,265

 
22,771

 
22,085

 
19,429

 
27,818

 
29,730

 
18,484

 

Total revenue
297,305

 
343,022

 
351,901

 
392,598

 
316,004

 
376,834

 
378,639

 
395,335

Cost of revenue
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cost of revenue—Content acquisition costs
171,264

 
176,633

 
174,334

 
212,122

 
187,420

 
195,875

 
204,222

 
216,515

Cost of revenue—Other
21,195

 
25,106

 
25,896

 
30,520

 
25,532

 
27,440

 
27,287

 
32,379

Cost of revenue—Ticketing service (1)
14,646

 
15,259

 
15,318

 
14,057

 
18,618

 
20,510

 
11,269

 

Total cost of revenue
207,105

 
216,998

 
215,548

 
256,699

 
231,570

 
243,825

 
242,778

 
248,894

Gross profit
90,200

 
126,024

 
136,353

 
135,899

 
84,434

 
133,009

 
135,861

 
146,441

Operating expenses
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Product development (1)
35,611

 
33,560

 
33,560

 
37,976

 
39,588

 
41,233

 
39,469

 
34,035

Sales and marketing (1)
117,433

 
123,589

 
116,091

 
133,251

 
125,102

 
145,891

 
107,588

 
113,961

General and administrative (1)
46,524

 
40,760

 
41,909

 
46,971

 
44,525

 
57,954

 
48,171

 
40,061

Goodwill impairment

 

 

 

 

 
131,997

 

 

Contract termination fees (benefit)

 

 

 

 

 
23,467

 
(423
)
 

Total operating expenses
199,568

 
197,909

 
191,560

 
218,198

 
209,215

 
400,542

 
194,805

 
188,057

Loss from operations
(109,368
)
 
(71,885
)
 
(55,207
)
 
(82,299
)
 
(124,781
)
 
(267,533
)
 
(58,944
)
 
(41,616
)
Net loss
(115,102
)
 
(76,333
)
 
(61,534
)
 
(90,009
)
 
(132,267
)
 
(275,136
)
 
(66,243
)
 
(44,749
)
Net loss available to common stockholders
(115,102
)
 
(76,333
)
 
(61,534
)
 
(90,009
)
 
(132,267
)
 
(289,664
)
 
(84,562
)
 
(52,068
)
Net loss per common share, basic and diluted
$
(0.51
)
 
$
(0.33
)
 
$
(0.27
)
 
$
(0.38
)
 
$
(0.56
)
 
$
(1.20
)
 
$
(0.34
)
 
$
(0.21
)
(1) Includes approximately two months of revenue and expense for Ticketfly from July 1, 2017 to the disposition date of September 1, 2017.