v3.19.3.a.u2
Business Combination (Tables)
 12 Months Ended
Dec. 31, 2019
Business Combinations [Abstract]  
Schedule of estimated fair values of the assets acquired and liabilities assumed
The following table reflects the Company’s completed valuation of the assets acquired and liabilities assumed of Trilogy as of the date of the acquisition:
 
Estimated Average
Useful Life (in years)
 
Purchase Price
Allocation
 
 
 
(in thousands)
Cash and cash equivalents
 
 
$
35,320

Current assets
 
 
30,081

Property and equipment, net
 
 
2,411

Other non-current assets
 
 
6,276

Amortizable intangible assets:
 
 
 

Developed technology
3
 
48,096

Developed content
4
 
48,050

University client relationships
10
 
84,150

Trade names and domain names
5
 
7,100

Goodwill
 
 
425,346

Current liabilities
 
 
(57,010
)
Non-current liabilities
 
 
(21,224
)
 
 
 
$
608,596
Schedule of unaudited pro forma combined revenue and net loss The following table presents the Company’s unaudited pro forma combined revenue, pro forma combined net loss and pro forma combined net loss per share for the years ended December 31, 2019 and 2018, as if the acquisition of Trilogy had occurred on January 1, 2018:
 
Year Ended
December 31,
 
2019
 
2018
 
(in thousands, except per share amounts)
Pro forma revenue
$
624,796

 
$
497,637

Pro forma net loss
(268,900
)
 
(109,508
)
Pro forma net loss per share, basic and diluted
$
(4.38
)
 
$
(1.96
)