Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v3.8.0.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2017
Dec. 31, 2016
Current assets    
Cash and cash equivalents $ 499,597 $ 199,944
Short-term investments 1,250 37,109
Accounts receivable, net of allowance of $3,633 at December 31, 2016 and $5,352 at December 31, 2017 336,429 309,267
Prepaid content acquisition costs 55,668 46,310
Prepaid expenses and other current assets 19,220 33,191
Total current assets 912,164 625,821
Convertible promissory note receivable 35,471 0
Long-term investments 0 6,252
Property and equipment, net 116,742 124,088
Goodwill 71,243 306,691
Intangible assets, net 19,409 90,425
Other long-term assets 11,293 31,533
Total assets 1,166,322 1,184,810
Current liabilities    
Accounts payable 14,896 15,224
Accrued liabilities 34,535 35,465
Accrued content acquisition costs 97,751 93,723
Accrued compensation 47,635 60,353
Deferred revenue 31,464 28,359
Other current liabilities 0 20,993
Total current liabilities 226,281 254,117
Long-term debt 273,014 342,247
Other long-term liabilities 23,500 34,187
Total liabilities 522,795 630,551
Commitments and contingencies (Note 11)
Redeemable convertible preferred stock, $0.0001 par value, 10,000,000 shares authorized: 480,000 shares issued and outstanding at December 31, 2017 (liquidation preference $480,000,000) 490,849 0
Stockholders’ equity    
Common stock, $0.0001 par value, 1,000,000,000 shares authorized: 235,162,757 shares issued and outstanding at December 31, 2016 and 250,867,462 at December 31, 2017 25 24
Additional paid-in capital 1,422,221 1,264,693
Accumulated deficit (1,269,351) (709,636)
Accumulated other comprehensive loss (217) (822)
Total stockholders’ equity 152,678 554,259
Total liabilities, redeemable convertible preferred stock and stockholders’ equity $ 1,166,322 $ 1,184,810