| Selected Quarterly Financial Data (unaudited) |
Selected Quarterly Financial Data (unaudited)
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Three months ended |
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Two months ended |
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Three months ended |
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April 30, |
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July 31, |
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October 31, |
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December 31, |
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March 31, |
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June 30, |
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September 30, |
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December 31, |
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2013 |
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2013 |
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2013 |
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2013 (1) |
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2014 |
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2014 |
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2014 |
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2014 |
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(in thousands, except per share data) |
Total revenue |
$ |
125,510 |
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$ |
157,355 |
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$ |
180,376 |
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$ |
136,992 |
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$ |
194,315 |
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$ |
218,894 |
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$ |
239,593 |
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$ |
268,000 |
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Cost of revenue |
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Cost of Revenue—Content acquisition costs |
82,853 |
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81,880 |
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86,989 |
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63,144 |
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108,275 |
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111,461 |
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111,315 |
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115,326 |
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Cost of revenue—Other |
9,845 |
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11,141 |
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12,532 |
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8,699 |
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14,979 |
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13,989 |
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15,453 |
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17,206 |
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Total cost of revenue |
92,698 |
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93,021 |
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99,521 |
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71,843 |
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123,254 |
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125,450 |
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126,768 |
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132,532 |
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Gross profit |
32,812 |
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64,334 |
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80,855 |
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65,149 |
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71,061 |
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93,444 |
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112,825 |
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135,468 |
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Operating expenses |
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Product development |
7,312 |
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8,301 |
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9,244 |
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6,437 |
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11,831 |
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13,076 |
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13,381 |
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14,865 |
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Sales and marketing |
40,075 |
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45,606 |
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50,285 |
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33,039 |
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61,864 |
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66,232 |
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72,320 |
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76,914 |
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General and administrative |
13,872 |
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18,061 |
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22,823 |
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14,544 |
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26,361 |
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25,865 |
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29,143 |
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31,074 |
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Total operating expenses |
61,259 |
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71,968 |
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82,352 |
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54,020 |
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100,056 |
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105,173 |
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114,844 |
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122,853 |
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Income (loss) from operations |
(28,447 |
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(7,634 |
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(1,497 |
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11,129 |
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(28,995 |
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(11,729 |
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(2,019 |
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12,615 |
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Net income (loss) attributable to common stockholders |
(28,587 |
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(7,787 |
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(1,700 |
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11,057 |
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(28,931 |
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(11,728 |
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(2,025 |
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12,278 |
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Net income (loss) per share, basic |
(0.16 |
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(0.04 |
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(0.01 |
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0.06 |
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(0.14 |
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(0.06 |
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(0.01 |
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0.06 |
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Net income (loss) per share, diluted |
$ |
(0.16 |
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$ |
(0.04 |
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$ |
(0.01 |
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$ |
0.05 |
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$ |
(0.14 |
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$ |
(0.06 |
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$ |
(0.01 |
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$ |
0.06 |
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(1) We changed our fiscal year from the twelve months ending January 31 to the calendar twelve months ending December 31, effective beginning with the year ended December 31, 2013. Therefore, for financial reporting purposes our fourth quarter of the prior fiscal year was shortened from the three months ended January 31 to the two months ended December 31. |
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