| Schedule of Contract Balances |
The table below reflects the contract balances of the Company (in thousands):
|
|
|
As of |
|
|
As of adoption |
|
|
|
|
December 31, 2018 |
|
|
January 1, 2018 |
|
|
Accounts receivable, net |
|
$ |
183,078 |
|
|
$ |
133,281 |
|
|
Contract assets, current portion |
|
|
753 |
|
|
|
4,113 |
|
|
Deferred revenue, current portion |
|
|
45,442 |
|
|
|
42,950 |
|
|
Deferred revenue, non-current portion |
|
|
19,594 |
|
|
|
12,023 |
|
|
| Schedule of Cumulative Effect of Changes Made to Consolidated Balance Sheet for Adoption of New Revenue Standard |
The cumulative effect of the changes made to the consolidated January 1, 2018 balance sheet for the adoption of the new revenue standard were as follows (in thousands):
|
|
|
As of |
|
|
Adjustment on |
|
|
As of |
|
|
Balance Sheet line items impacted |
|
December 31,
2017 |
|
|
adoption of new
revenue standard |
|
|
January 1,
2018 |
|
|
Assets: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Accounts receivables, net |
|
$ |
120,553 |
|
|
$ |
12,728 |
|
|
$ |
133,281 |
|
|
Inventories |
|
|
32,740 |
|
|
|
(108 |
) |
|
|
32,632 |
|
|
Prepaid expenses and other current assets |
|
|
11,367 |
|
|
|
4,113 |
|
|
|
15,480 |
|
|
Deferred cost of revenue, current portion |
|
|
3,007 |
|
|
|
(1,076 |
) |
|
|
1,931 |
|
|
Deferred cost of revenue, non-current portion |
|
|
5,403 |
|
|
|
(3,885 |
) |
|
|
1,518 |
|
|
Other non-current assets |
|
|
3,429 |
|
|
|
(222 |
) |
|
|
3,207 |
|
|
Liabilities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Accounts payable and accrued liabilities |
|
|
128,757 |
|
|
|
1,250 |
|
|
|
130,007 |
|
|
Deferred revenue, current portion |
|
|
34,501 |
|
|
|
8,449 |
|
|
|
42,950 |
|
|
Deferred revenue, non-current portion |
|
|
48,511 |
|
|
|
(36,488 |
) |
|
|
12,023 |
|
|
Equity: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Accumulated deficit |
|
$ |
(283,338 |
) |
|
$ |
38,339 |
|
|
$ |
(244,999 |
) |
|
| Summary of Impact of Adoption of New Revenue Standards On Our Statements |
The impact of adoption of the new revenue standard on the condensed consolidated balance sheet as of December 31, 2018 and statements of operations for the year ended December 31, 2018 is reflected in the table below (in thousands):
|
|
|
As of December 31, 2018 |
|
|
Impact on balance sheet line items |
|
As Reported |
|
|
Balances without
adoption of the new
revenue standard |
|
|
Impact of
adoption
Higher / (Lower) |
|
|
Assets: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Accounts receivable, net |
|
$ |
183,078 |
|
|
$ |
162,712 |
|
|
$ |
20,366 |
|
|
Prepaid expenses and other current assets |
|
|
15,374 |
|
|
|
14,728 |
|
|
|
646 |
|
|
Deferred cost of revenue, current portion |
|
|
1,188 |
|
|
|
3,615 |
|
|
|
(2,427 |
) |
|
Deferred cost of revenue, non-current portion |
|
|
— |
|
|
|
5,260 |
|
|
|
(5,260 |
) |
|
Liabilities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Accrued liabilities |
|
|
91,986 |
|
|
|
89,646 |
|
|
|
2,340 |
|
|
Deferred revenue, current portion |
|
|
45,442 |
|
|
|
51,352 |
|
|
|
(5,910 |
) |
|
Deferred revenue, non-current portion |
|
|
19,594 |
|
|
|
49,559 |
|
|
|
(29,965 |
) |
|
Equity: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Accumulated Deficit |
|
$ |
(253,896 |
) |
|
$ |
(300,756 |
) |
|
$ |
46,860 |
|
|
|
|
Year Ended December 31, 2018 |
|
|
Impact on statements of operations line items |
|
As Reported |
|
|
Balances without
adoption of the new
revenue standard |
|
|
Impact of
adoption
Higher / (Lower) |
|
|
Net Revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Platform |
|
$ |
416,863 |
|
|
$ |
391,677 |
|
|
$ |
25,186 |
|
|
Player |
|
|
325,643 |
|
|
|
325,417 |
|
|
|
226 |
|
|
Total net revenue |
|
|
742,506 |
|
|
|
717,094 |
|
|
|
25,412 |
|
|
Cost of Revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Platform |
|
|
120,543 |
|
|
|
105,423 |
|
|
|
15,120 |
|
|
Player |
|
|
289,815 |
|
|
|
289,891 |
|
|
|
(76 |
) |
|
Total cost of revenue |
|
|
410,358 |
|
|
|
395,314 |
|
|
|
15,044 |
|
|
Gross Profit: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Platform |
|
|
296,320 |
|
|
|
286,254 |
|
|
|
10,066 |
|
|
Player |
|
|
35,828 |
|
|
|
35,526 |
|
|
|
302 |
|
|
Total gross profit |
|
|
332,148 |
|
|
|
321,780 |
|
|
|
10,368 |
|
|
Operating Expenses: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Research and development |
|
|
170,692 |
|
|
|
170,692 |
|
|
|
— |
|
|
Sales and marketing |
|
|
102,780 |
|
|
|
100,933 |
|
|
|
1,847 |
|
|
General and administrative |
|
|
71,972 |
|
|
|
71,972 |
|
|
|
— |
|
|
Total operating expenses |
|
|
345,444 |
|
|
|
343,597 |
|
|
|
1,847 |
|
|
Loss from Operations |
|
|
(13,296 |
) |
|
|
(21,817 |
) |
|
|
8,521 |
|
|
Net loss |
|
$ |
(8,857 |
) |
|
$ |
(17,378 |
) |
|
$ |
8,521 |
|
|