XML 14 R2.htm IDEA: XBRL DOCUMENT v3.7.0.1
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2017
Dec. 31, 2016
Current assets:    
Cash and cash equivalents $ 24,931 $ 18,960
Accounts receivable, net of allowance for doubtful accounts of $2.4 million and $2.3 million as of March 31, 2017 and December 31, 2016, respectively 108,754 112,491
Accounts receivable—affiliates 2,013 2,624
Inventory 430 3,752
Fair value of derivative assets 2,388 8,344
Customer acquisition costs, net 18,515 18,834
Customer relationships, net 12,474 12,113
Prepaid assets 2,319 1,361
Deposits 6,264 7,329
Other current assets 13,595 12,175
Total current assets 191,683 197,983
Property and equipment, net 4,389 4,706
Fair value of derivative assets 0 3,083
Customer acquisition costs, net 8,776 6,134
Customer relationships, net 18,537 21,410
Deferred tax assets 54,335 55,047
Goodwill 79,407 79,147
Other assets 8,690 8,658
Total assets 365,817 376,168
Current liabilities:    
Accounts payable 40,315 52,309
Accounts payable—affiliates 3,217 3,775
Accrued liabilities 40,022 36,619
Fair value of derivative liabilities 1,723 680
Current portion of Senior Credit Facility 22,236 51,287
Current contingent consideration for acquisitions 12,103 11,827
Current portion of note payable 8,185 15,501
Convertible subordinated notes to affiliates 0 6,582
Other current liabilities 2,230 5,476
Total current liabilities 130,031 184,056
Long-term liabilities:    
Fair value of derivative liabilities 4,964 68
Payable pursuant to tax receivable agreement—affiliates 49,886 49,886
Subordinated debt—affiliate 0 5,000
Deferred tax liability 139 938
Contingent consideration for acquisitions 4,083 10,826
Other long-term liabilities 1,333 1,658
Total liabilities 190,436 252,432
Commitments and contingencies (Note 11)
Series A Preferred Stock, par value $0.01 per share, 20,000,000 shares authorized, 1,610,000 shares issued and outstanding at March 31, 2017 and zero shares issued and outstanding at December 31, 2016 38,346 0
Additional paid-in capital 33,812 25,413
Accumulated other comprehensive (income)/loss (7) 11
Retained earnings 4,625 4,711
Total stockholders' equity 38,603 30,303
Non-controlling interest in Spark HoldCo, LLC 98,432 93,433
Total equity 137,035 123,736
Total liabilities, Series A Preferred Stock and stockholders' equity 365,817 376,168
Common Class A    
Common stock 65 65
Common Class B    
Common stock $ 108 $ 103