| Selected Quarterly Financial Data (unaudited) |
Selected Quarterly Financial Data (unaudited)
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Quarter ended |
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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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March 31, |
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June 30, |
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September 30, |
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December 31, |
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2015 |
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2015 |
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2015 |
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2015 |
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2016 |
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2016 |
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2016 |
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2016 |
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(in thousands, except per share data) |
Total revenue (1) |
$ |
230,764 |
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$ |
285,560 |
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$ |
311,562 |
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$ |
336,157 |
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$ |
297,305 |
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$ |
343,022 |
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$ |
351,901 |
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$ |
392,598 |
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Cost of revenue |
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Cost of revenue—Content acquisition costs |
126,023 |
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130,134 |
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211,272 |
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142,933 |
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171,264 |
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176,633 |
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174,334 |
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212,122 |
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Cost of revenue—Other |
16,233 |
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20,043 |
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21,414 |
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22,168 |
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20,999 |
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24,833 |
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25,556 |
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29,901 |
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Cost of revenue—Ticketing service (1) |
— |
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— |
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— |
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7,121 |
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14,646 |
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15,259 |
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15,318 |
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14,057 |
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Total cost of revenue |
142,256 |
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150,177 |
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232,686 |
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172,222 |
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206,909 |
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216,725 |
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215,208 |
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256,080 |
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Gross profit |
88,508 |
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135,383 |
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78,876 |
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163,935 |
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90,396 |
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126,297 |
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136,693 |
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136,518 |
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Operating expenses |
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Product development (1) |
15,875 |
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18,742 |
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21,849 |
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28,115 |
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35,846 |
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33,808 |
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33,657 |
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38,325 |
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Sales and marketing (1) |
84,274 |
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94,035 |
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107,286 |
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112,574 |
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117,622 |
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123,812 |
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116,475 |
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133,546 |
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General and administrative (1) |
36,754 |
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38,812 |
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35,603 |
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42,774 |
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46,296 |
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40,562 |
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41,768 |
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46,946 |
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Total operating expenses |
136,903 |
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151,589 |
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164,738 |
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183,463 |
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199,764 |
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198,182 |
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191,900 |
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218,817 |
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Loss from operations |
(48,395 |
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(16,206 |
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(85,862 |
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(19,528 |
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(109,368 |
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(71,885 |
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(55,207 |
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(82,299 |
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Net loss |
(48,257 |
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(16,065 |
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(85,930 |
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(19,409 |
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(115,102 |
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(76,333 |
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(61,534 |
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(90,009 |
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Net loss per share, basic |
(0.23 |
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(0.08 |
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(0.40 |
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(0.09 |
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(0.51 |
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(0.33 |
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(0.27 |
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(0.38 |
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Net loss per share, diluted |
$ |
(0.23 |
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$ |
(0.08 |
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$ |
(0.40 |
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$ |
(0.09 |
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$ |
(0.51 |
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$ |
(0.33 |
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$ |
(0.27 |
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$ |
(0.38 |
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(1) Includes two months of revenue and expense for Ticketfly from the acquisition date of October 31, 2015 to December 31, 2015. |
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