Consolidated Statements of Cash Flows - USD ($)
$ in Thousands |
12 Months Ended |
Dec. 31, 2015 |
Dec. 31, 2014 |
Dec. 31, 2013 |
| Cash flows from operating activities |
|
|
|
| Net loss |
$ (26,733)
|
$ (28,999)
|
$ (27,953)
|
| Adjustments to reconcile net loss to net cash used in operating activities: |
|
|
|
| Depreciation and amortization |
7,220
|
5,572
|
4,335
|
| Stock-based compensation expense |
12,499
|
7,527
|
2,426
|
| Charge related to execution of new lease agreement |
884
|
|
|
| Loss on impairment and disposal of long-lived assets |
|
|
811
|
| Changes in operating assets and liabilities: |
|
|
|
| (Increase) decrease in accounts receivable, net |
(625)
|
1,485
|
(1,587)
|
| (Increase) decrease in advance to clients |
(875)
|
(1,094)
|
415
|
| (Increase) in prepaid expenses and other current assets |
(4,001)
|
(374)
|
(939)
|
| Increase (decrease) in accounts payable |
2,251
|
(2,565)
|
1,894
|
| Increase in accrued compensation and related benefits |
4,317
|
3,123
|
3,924
|
| Increase in accrued expenses and other liabilities |
1,216
|
2,978
|
1,762
|
| Increase in deferred revenue |
703
|
640
|
530
|
| Increase in payments to clients |
(3,664)
|
(826)
|
|
| (Increase) decrease in other assets and other liabilities, net |
(2,709)
|
153
|
(1,267)
|
| Other |
250
|
695
|
(33)
|
| Net cash used in operating activities |
(9,267)
|
(11,685)
|
(15,682)
|
| Cash flows from investing activities |
|
|
|
| Purchases of property and equipment |
(4,096)
|
(3,803)
|
(2,367)
|
| Capitalized content development cost expenditures |
(9,518)
|
(7,150)
|
(5,213)
|
| Other |
(2,331)
|
(29)
|
(56)
|
| Net cash used in investing activities |
(15,945)
|
(10,982)
|
(7,636)
|
| Cash flows from financing activities |
|
|
|
| Proceeds from issuance of common stock, net of offering costs |
117,112
|
100,302
|
|
| Proceeds from exercise of stock options |
5,336
|
2,282
|
325
|
| Proceeds from revolving line of credit |
|
5,000
|
|
| Payment on revolving line of credit |
|
(5,000)
|
|
| Proceeds from issuance of Series D redeemable convertible preferred stock, net of issuance costs |
|
|
4,994
|
| Other |
(436)
|
|
(179)
|
| Net cash provided by financing activities |
122,012
|
102,584
|
5,140
|
| Net increase (decrease) in cash and cash equivalents |
96,800
|
79,917
|
(18,178)
|
| Cash and cash equivalents, beginning of period |
86,929
|
7,012
|
25,190
|
| Cash and cash equivalents, end of period |
183,729
|
86,929
|
7,012
|
| Supplemental disclosure of non-cash investing and financing activities |
|
|
|
| Accretion of issuance costs on redeemable convertible preferred stock |
|
89
|
347
|
| Accrued capital expenditures |
$ 415
|
557
|
216
|
| Deferred offering costs included in accounts payable and accrued expenses |
|
|
(1,057)
|
| Issuance of Series D redeemable convertible preferred stock warrant in connection with revolving line of credit |
|
|
$ 107
|
| Common stock granted in exchange for consulting services received |
|
$ 55
|
|