Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

v3.10.0.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Dec. 31, 2017
Jun. 30, 2018
Dec. 31, 2017
Jun. 30, 2017
Operating activities                
Net loss $ (91,982) $ (275,136) $ (223,687) $ (407,403)        
Adjustments to reconcile net loss to net cash used in operating activities                
Loss on dispositions     2,173 0        
Goodwill impairment 0 131,997 0 131,997        
Loss on extinguishment of convertible debt     14,600 0        
Depreciation and amortization     28,062 35,115        
Stock-based compensation     53,964 68,226        
Amortization of premium on investments, net     (670) 73        
Accretion of discount on convertible promissory note receivable     (534) 0        
Other operating activities     231 186        
Amortization of debt discount     10,418 9,799        
Interest income     (810) 0        
Provision for bad debt     1,516 9,274        
Changes in operating assets and liabilities                
Accounts receivable     16,111 12,594        
Prepaid content acquisition costs     31,289 6,441        
Prepaid expenses and other assets     (1,346) (9,146)        
Accounts payable, accrued and other current liabilities     3,601 15,072        
Accrued content acquisition costs     28,040 (5,475)        
Accrued compensation     1,170 (13,191)        
Other long-term liabilities     (9,027) 176        
Deferred revenue     12,047 4,116        
Reimbursement of cost of leasehold improvements     894 5,236        
Net cash used in operating activities     (31,958) (136,910)        
Investing activities                
Purchases of property and equipment     (4,990) (8,541)        
Internal-use software costs     (10,578) (10,894)        
Payments related to acquisition, net of cash acquired     (66,924) 0        
Payments related to acquisition, net of cash acquired     (164,586) 0        
Proceeds from maturities of investments     38,750 25,274        
Proceeds from cancellation of convertible promissory note receivable     34,742 0        
Net cash provided by (used in) investing activities     (173,586) 5,839        
Financing activities                
Proceeds from issuance of redeemable convertible preferred stock     0 172,500        
Payments of issuance costs       (12,625)        
Payments of issuance costs     (4,516)          
Proceeds from employee stock purchase plan     2,274 6,146        
Proceeds from exercise of stock options     423 3,138        
Tax withholdings related to net share settlements of restricted stock units     (477) 0        
Net cash provided by (used in) financing activities     (2,296) 169,159        
Effect of exchange rate changes on cash, cash equivalents and restricted cash     (18) 292        
Net increase (decrease) in cash, cash equivalents and restricted cash     (207,858) 38,380        
Cash, cash equivalents and restricted cash at beginning of period     500,854 201,820 $ 201,820      
Less: Cash held for sale     0 (28,101)        
Cash, cash equivalents and restricted cash at end of period 292,996 212,099 292,996 212,099 500,854      
Supplemental disclosures of cash flow information                
Purchases of property and equipment recorded in accounts payable and accrued liabilities     765 1,885        
Cash paid during the period for interest     3,464 4,827        
Accretion of preferred stock issuance costs     0 13,935        
Stock dividend payable to preferred stockholders     14,836 595        
Contingent consideration related to acquisition           $ 5,000   $ 0
Fair value of shares issued related to acquisition           72,956   0
Stock dividend payable to preferred stockholders     3,381 3,306        
Reconciliation of cash, cash equivalents and restricted cash as shown in the statements of cash flows                
Cash and cash equivalents           292,996 $ 499,597 209,581
Restricted cash included in other long-term assets line item of Condensed Consolidated Balance Sheets           0   2,518
Total cash, cash equivalents and restricted cash $ 292,996 $ 212,099 $ 500,854 $ 201,820 $ 201,820 $ 292,996 $ 500,854 $ 212,099