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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Cash flows from operating activities    
Net loss $ (49,536) $ (37,655)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization expense 1,338 1,978
Stock-based compensation 3,432 3,461
Changes in operating assets and liabilities:    
Accounts receivable 6,361 671
Prepaid expenses (177) (1,535)
Other assets 40 (81)
Accounts payable and other liabilities 7,815 (2,223)
Accrued expenses 1,477 1,823
Lease exit liability (298) (379)
Deferred revenue (1,435) (1,065)
Deferred rent (312) (326)
Net cash used in operating activities (31,295) (35,331)
Cash flows from investing activities    
Purchases of marketable securities (24,452) (56,937)
Proceeds from sale and maturities of marketable securities 58,358 50,072
Purchases of property and equipment (14,519) (1,492)
Net cash provided by (used in) investing activities 19,387 (8,357)
Cash flows from financing activities    
Proceeds from stock option exercises and ESPP purchases 629 108
Net cash provided by financing activities 629 108
Net change in cash and cash equivalents (11,279) (43,580)
Cash and cash equivalents at beginning of period 211,727 84,098
Cash and cash equivalents at end of period $ 200,448 $ 40,518