| Quarterly Financial Data (Unaudited) |
Quarterly Financial Data (Unaudited)
The following quarterly consolidated statements of operations for the quarters in the years ended December 31, 2015 and 2014 are unaudited, and have been prepared on a basis consistent with our audited consolidated annual financial statements, and include, in the opinion of management, all normal recurring adjustments necessary for the fair statement of the financial information contained in those statements.
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Quarter ended, |
(in thousands) |
March 31, 2014 |
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June 30, 2014 |
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September 30, 2014 |
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December 31, 2014 |
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March 31, 2015 |
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June 30, 2015 |
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September 30, 2015 |
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December 31, 2015 |
Revenue |
$ |
85,968 |
|
|
$ |
98,145 |
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|
$ |
102,623 |
|
|
$ |
100,999 |
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|
$ |
100,305 |
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|
$ |
102,376 |
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$ |
110,114 |
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$ |
113,235 |
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Operating expenses: |
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Cost of sales |
65,117 |
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|
74,608 |
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|
73,618 |
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|
68,530 |
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|
69,426 |
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66,083 |
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|
71,456 |
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|
72,191 |
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Sales and marketing expenses |
2,835 |
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|
3,322 |
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|
3,980 |
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3,150 |
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|
3,275 |
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4,964 |
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4,819 |
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|
4,647 |
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Product development |
3,922 |
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|
4,465 |
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|
7,212 |
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7,411 |
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7,230 |
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6,451 |
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7,766 |
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|
7,163 |
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General and administrative |
17,067 |
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17,143 |
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17,172 |
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26,391 |
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18,119 |
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18,326 |
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22,102 |
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|
23,418 |
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Amortization of intangible assets |
6,419 |
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6,146 |
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6,049 |
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5,938 |
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5,983 |
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6,005 |
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|
7,286 |
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|
7,720 |
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Restructuring charges |
— |
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— |
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2,606 |
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1,617 |
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|
302 |
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— |
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|
66 |
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|
43 |
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Total operating expenses |
95,360 |
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|
105,684 |
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110,637 |
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113,037 |
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104,335 |
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101,829 |
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113,495 |
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|
115,182 |
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Loss from operations |
(9,392 |
) |
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(7,539 |
) |
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(8,014 |
) |
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(12,038 |
) |
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(4,030 |
) |
|
547 |
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(3,381 |
) |
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(1,947 |
) |
Interest income (expense), net |
(161 |
) |
|
42 |
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|
175 |
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32 |
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(245 |
) |
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(583 |
) |
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(803 |
) |
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(861 |
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Change in fair value of financial instruments |
(15,518 |
) |
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21,326 |
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(5,253 |
) |
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(7,510 |
) |
|
954 |
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14,789 |
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(1,877 |
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(1,928 |
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Other income (expense), net |
179 |
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(990 |
) |
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(984 |
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(975 |
) |
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(796 |
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(443 |
) |
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(576 |
) |
|
675 |
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Loss before income taxes |
(24,892 |
) |
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12,839 |
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(14,076 |
) |
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(20,491 |
) |
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(4,117 |
) |
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14,310 |
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(6,637 |
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(4,061 |
) |
Income tax expense |
1,257 |
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|
843 |
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1,454 |
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7,020 |
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(686 |
) |
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1,323 |
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|
235 |
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|
749 |
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Net loss |
(26,149 |
) |
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11,996 |
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(15,530 |
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(27,511 |
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(3,431 |
) |
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12,987 |
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(6,872 |
) |
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(4,810 |
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Non-controlling interests |
194 |
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— |
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— |
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— |
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— |
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— |
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— |
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— |
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Net loss attributable to common stockholders |
$ |
(26,343 |
) |
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$ |
11,996 |
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$ |
(15,530 |
) |
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$ |
(27,511 |
) |
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$ |
(3,431 |
) |
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$ |
12,987 |
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$ |
(6,872 |
) |
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$ |
(4,810 |
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Net income (loss) per common share - basic |
$ |
(0.37 |
) |
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$ |
0.17 |
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$ |
(0.21 |
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$ |
(0.36 |
) |
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$ |
(0.04 |
) |
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$ |
0.17 |
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$ |
(0.09 |
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$ |
(0.06 |
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Net income (loss) per common share - diluted |
$ |
(0.37 |
) |
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$ |
(0.13 |
) |
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$ |
(0.21 |
) |
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$ |
(0.36 |
) |
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$ |
(0.06 |
) |
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$ |
(0.02 |
) |
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$ |
(0.09 |
) |
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$ |
(0.06 |
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Weighted average common shares basic |
71,978 |
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71,988 |
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72,877 |
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76,313 |
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76,874 |
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77,111 |
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77,753 |
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|
78,476 |
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Weighted average common shares diluted |
71,978 |
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72,468 |
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72,877 |
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76,313 |
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78,725 |
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78,518 |
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77,753 |
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78,476 |
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