v3.8.0.1

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2017

Income Taxes

Schedule components of loss before income taxes

		Year Ended December 31,
		2017			2016			2015
		(in thousands)
Loss before income taxes:
United States		$	(25,002	)	$	(20,684	)	$	(26,733	)
Foreign			(5,718	)		—			—
​	​	​	​	​	​	​	​	​	​	​
Total		$	(30,720	)	$	(20,684	)	$	(26,733	)
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Reconciliation of the statutory federal income tax rate to the actual effective income tax rate

		Year ended December 31,
		2017			2016			2015
U.S. statutory federal income tax rate			35.0	%		35.0	%		35.0	%
Increase (decrease) resulting from:
U.S. state income taxes, net of federal benefits			9.9			5.5			7.7
Foreign tax rate differential			(1.4	)		—			—
Non-deductible expenses			(1.8	)		(1.5	)		(1.0	)
Stock-based compensation			40.9			(2.9	)		(1.0	)
Change in valuation allowance			29.8			(36.6	)		(39.1	)
Change in tax rate			(108.0	)		—			—
Other			(0.2	)		0.5			(1.6	)
​	​	​	​	​	​	​	​	​	​	​
Effective tax rate			4.2	%		0.0	%		0.0	%
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Components of the Company's deferred tax assets and liabilities

		As of December 31,
		2017			2016
		(in thousands)
Deferred tax assets:
Accrued expenses and other		$	2,395		$	2,757
Accrued compensation and related benefits			3,524			4,317
Rebate reserve			20			126
Deferred rent			6,924			1,028
Stock-based compensation			6,874			7,127
Deferred income			191			—
Foreign net operating loss carryforwards			1,704			—
U.S net operating loss carryforwards			69,425			61,995
Valuation allowance			(71,101	)		(62,297	)
​	​	​	​	​	​	​	​
Total deferred tax assets		$	19,956		$	15,053
​	​	​	​	​	​	​	​
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Deferred tax liabilities:
Prepaid expenses and other		$	(355	)	$	(1,524	)
Capitalized content development costs			(8,600	)		(9,368	)
Capitalized software development costs			(4,356	)		(3,848	)
Property and equipment			(4,720	)		(313	)
Intangibles			(12,012	)		—
​	​	​	​	​	​	​	​
Total deferred tax liabilities		$	(30,043	)	$	(15,053	)
​	​	​	​	​	​	​	​
Net deferred tax liabilities		$	(10,087	)	$	—
​	​	​	​	​	​	​	​
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Summary of deferred tax valuation allowances

		Balance at Beginning of Period			Additions Charged to Expense			Deductions			Balance at End of Period
		(in thousands)
Income tax valuation allowance:
Year ended December 31, 2017		$	62,297		$	17,967		$	(9,163	)	$	71,101
Year ended December 31, 2016			54,739			7,558			—			62,297
Year ended December 31, 2015			44,309			10,430			—			54,739

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Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

+ References

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
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Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

+ References

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
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Tabular disclosure of income before income tax between domestic and foreign jurisdictions.

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
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Tabular disclosure of valuation allowances to reduce deferred tax assets to net realizable value, including identification of the deferred tax asset more likely than not will not be fully realized and the corresponding amount of the valuation allowance.

+ References

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-Name Accounting Standards Codification
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