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September 30, 2017 | December 31, 2016 | ||||||
Cash and cash equivalents: | |||||||
Cash | $ | 1,629 | $ | 1,364 | |||
Money market funds | 4,698 | 5,409 | |||||
U.S. government securities | 125 | 1,463 | |||||
U.S. government agency securities | 150 | 667 | |||||
Certificate of deposits and time deposits | 599 | — | |||||
Total cash and cash equivalents | 7,201 | 8,903 | |||||
Marketable securities: | |||||||
U.S. government securities | 12,134 | 7,130 | |||||
U.S. government agency securities | 9,815 | 7,411 | |||||
Corporate debt securities | 9,139 | 6,005 | |||||
Total marketable securities | 31,088 | 20,546 | |||||
Total cash and cash equivalents, and marketable securities | $ | 38,289 | $ | 29,449 |
September 30, 2017 | |||
Due in one year | $ | 7,502 | |
Due in one to five years | 23,586 | ||
Total | $ | 31,088 |
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Fair Value Measurement at Reporting Date Using | ||||||||||||||||
Description | September 30, 2017 | Quoted Prices in Active Markets for Identical Assets (Level 1) | Significant Other Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | ||||||||||||
Cash equivalents: | ||||||||||||||||
Money market funds | $ | 4,698 | $ | 4,698 | $ | — | $ | — | ||||||||
U.S. government securities | 125 | 125 | — | — | ||||||||||||
U.S. government agency securities | 150 | 150 | — | — | ||||||||||||
Certificate of deposits and time deposits | 599 | — | 599 | — | ||||||||||||
Marketable securities: | ||||||||||||||||
U.S. government securities | 12,134 | 12,134 | — | — | ||||||||||||
U.S. government agency securities | 9,815 | 9,815 | — | — | ||||||||||||
Corporate debt securities | 9,139 | — | 9,139 | — | ||||||||||||
Total cash equivalents and marketable securities | $ | 36,660 | $ | 26,922 | $ | 9,738 | $ | — |
Fair Value Measurement at Reporting Date Using | ||||||||||||||||
Description | December 31, 2016 | Quoted Prices in Active Markets for Identical Assets (Level 1) | Significant Other Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | ||||||||||||
Cash equivalents: | ||||||||||||||||
Money market funds | $ | 5,409 | $ | 5,409 | $ | — | $ | — | ||||||||
U.S. government securities | 1,463 | 1,463 | — | — | ||||||||||||
U.S. government agency securities | 667 | 667 | — | — | ||||||||||||
Marketable securities: | ||||||||||||||||
U.S. government securities | 7,130 | 7,130 | — | — | ||||||||||||
U.S. government agency securities | 7,411 | 7,411 | — | — | ||||||||||||
Corporate debt securities | 6,005 | — | 6,005 | — | ||||||||||||
Total cash equivalents and marketable securities | $ | 28,085 | $ | 22,080 | $ | 6,005 | $ | — | ||||||||
Accrued expenses and other current liabilities: | ||||||||||||||||
Contingent consideration liability | $ | 242 | $ | — | $ | 242 | $ | — |
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September 30, 2017 | December 31, 2016 | ||||||
Land | $ | 770 | $ | 696 | |||
Buildings | 4,623 | 3,109 | |||||
Leasehold improvements | 818 | 531 | |||||
Network equipment | 7,249 | 5,179 | |||||
Computer software, office equipment and other | 568 | 398 | |||||
Construction in progress | 2,418 | 1,890 | |||||
Total | 16,446 | 11,803 | |||||
Less: Accumulated depreciation | (4,288 | ) | (3,212 | ) | |||
Property and equipment, net | $ | 12,158 | $ | 8,591 |
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Balance as of December 31, 2016 | $ | 18,122 | |
Goodwill acquired | 85 | ||
Effect of currency translation adjustment | 6 | ||
Balance as of September 30, 2017 | $ | 18,213 |
September 30, 2017 | December 31, 2016 | ||||||||||||||||||||||||
Weighted-Average Remaining Useful Lives (in years) | Gross Carrying Amount | Accumulated Amortization | Net Carrying Amount | Gross Carrying Amount | Accumulated Amortization | Net Carrying Amount | |||||||||||||||||||
Acquired users | 4.0 | $ | 2,056 | $ | (898 | ) | $ | 1,158 | $ | 2,056 | $ | (678 | ) | $ | 1,378 | ||||||||||
Acquired technology | 1.9 | 968 | (664 | ) | 304 | 931 | (518 | ) | 413 | ||||||||||||||||
Acquired patents | 5.9 | 785 | (481 | ) | 304 | 785 | (420 | ) | 365 | ||||||||||||||||
Trade names | 2.5 | 629 | (378 | ) | 251 | 629 | (293 | ) | 336 | ||||||||||||||||
Other | 2.8 | 162 | (129 | ) | 33 | 162 | (119 | ) | 43 | ||||||||||||||||
Total intangible assets | 3.8 | $ | 4,600 | $ | (2,550 | ) | $ | 2,050 | $ | 4,563 | $ | (2,028 | ) | $ | 2,535 |
The remainder of 2017 | $ | 170 | |
2018 | 631 | ||
2019 | 539 | ||
2020 | 364 | ||
2021 | 265 | ||
Thereafter | 81 | ||
Total | $ | 2,050 |
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Shares Subject to Options Outstanding | ||||||||||||
Number of Shares | Weighted Average Exercise Price | Weighted Average Remaining Contractual Term | Aggregate Intrinsic Value(1) | |||||||||
(in thousands) | (in years) | (in millions) | ||||||||||
Balance as of December 31, 2016 | 5,687 | $ | 7.78 | |||||||||
Stock options exercised | (2,410 | ) | 5.28 | |||||||||
Balance as of September 30, 2017 | 3,277 | $ | 9.63 | 2.6 | $ | 528 | ||||||
Stock options exercisable as of September 30, 2017 | 2,728 | $ | 8.55 | 2.5 | $ | 443 |
(1) | The aggregate intrinsic value is calculated as the difference between the exercise price of the underlying stock option awards and the official closing price of our Class A common stock of $170.87, as reported on the NASDAQ Global Select Market on September 30, 2017. |
Unvested RSUs(1) | ||||||
Number of Shares | Weighted Average Grant Date Fair Value | |||||
(in thousands) | ||||||
Unvested at December 31, 2016 | 98,586 | $ | 82.99 | |||
Granted | 32,549 | 143.38 | ||||
Vested | (32,968 | ) | 82.23 | |||
Forfeited | (4,913 | ) | 100.02 | |||
Unvested at September 30, 2017 | 93,254 | $ | 103.43 |
(1) | Unvested shares include inducement awards issued in connection with the WhatsApp acquisition in 2014 and are subject to the terms, restrictions, and conditions of separate non-plan RSU award agreements. |
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Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||
2017 | 2016 | 2017 | 2016 | ||||||||||||
Revenue: | |||||||||||||||
United States | $ | 4,482 | $ | 3,184 | $ | 12,057 | $ | 8,545 | |||||||
Rest of the world (1) | 5,846 | 3,827 | 15,624 | 10,284 | |||||||||||
Total revenue | $ | 10,328 | $ | 7,011 | $ | 27,681 | $ | 18,829 |
(1) | No individual country, other than disclosed above, exceeded 10% of our total revenue for any period presented. |
September 30, 2017 | December 31, 2016 | ||||||
Property and equipment, net: | |||||||
United States | $ | 9,248 | $ | 6,793 | |||
Rest of the world (1) | 2,910 | 1,798 | |||||
Total property and equipment, net | $ | 12,158 | $ | 8,591 |
(1) | No individual country, other than disclosed above, exceeded 10% of our total property and equipment, net for any period presented. |
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September 30, 2017 | December 31, 2016 | ||||||
Cash and cash equivalents: | |||||||
Cash | $ | 1,629 | $ | 1,364 | |||
Money market funds | 4,698 | 5,409 | |||||
U.S. government securities | 125 | 1,463 | |||||
U.S. government agency securities | 150 | 667 | |||||
Certificate of deposits and time deposits | 599 | — | |||||
Total cash and cash equivalents | 7,201 | 8,903 | |||||
Marketable securities: | |||||||
U.S. government securities | 12,134 | 7,130 | |||||
U.S. government agency securities | 9,815 | 7,411 | |||||
Corporate debt securities | 9,139 | 6,005 | |||||
Total marketable securities | 31,088 | 20,546 | |||||
Total cash and cash equivalents, and marketable securities | $ | 38,289 | $ | 29,449 |
September 30, 2017 | |||
Due in one year | $ | 7,502 | |
Due in one to five years | 23,586 | ||
Total | $ | 31,088 |
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Fair Value Measurement at Reporting Date Using | ||||||||||||||||
Description | September 30, 2017 | Quoted Prices in Active Markets for Identical Assets (Level 1) | Significant Other Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | ||||||||||||
Cash equivalents: | ||||||||||||||||
Money market funds | $ | 4,698 | $ | 4,698 | $ | — | $ | — | ||||||||
U.S. government securities | 125 | 125 | — | — | ||||||||||||
U.S. government agency securities | 150 | 150 | — | — | ||||||||||||
Certificate of deposits and time deposits | 599 | — | 599 | — | ||||||||||||
Marketable securities: | ||||||||||||||||
U.S. government securities | 12,134 | 12,134 | — | — | ||||||||||||
U.S. government agency securities | 9,815 | 9,815 | — | — | ||||||||||||
Corporate debt securities | 9,139 | — | 9,139 | — | ||||||||||||
Total cash equivalents and marketable securities | $ | 36,660 | $ | 26,922 | $ | 9,738 | $ | — |
Fair Value Measurement at Reporting Date Using | ||||||||||||||||
Description | December 31, 2016 | Quoted Prices in Active Markets for Identical Assets (Level 1) | Significant Other Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | ||||||||||||
Cash equivalents: | ||||||||||||||||
Money market funds | $ | 5,409 | $ | 5,409 | $ | — | $ | — | ||||||||
U.S. government securities | 1,463 | 1,463 | — | — | ||||||||||||
U.S. government agency securities | 667 | 667 | — | — | ||||||||||||
Marketable securities: | ||||||||||||||||
U.S. government securities | 7,130 | 7,130 | — | — | ||||||||||||
U.S. government agency securities | 7,411 | 7,411 | — | — | ||||||||||||
Corporate debt securities | 6,005 | — | 6,005 | — | ||||||||||||
Total cash equivalents and marketable securities | $ | 28,085 | $ | 22,080 | $ | 6,005 | $ | — | ||||||||
Accrued expenses and other current liabilities: | ||||||||||||||||
Contingent consideration liability | $ | 242 | $ | — | $ | 242 | $ | — |
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September 30, 2017 | December 31, 2016 | ||||||
Land | $ | 770 | $ | 696 | |||
Buildings | 4,623 | 3,109 | |||||
Leasehold improvements | 818 | 531 | |||||
Network equipment | 7,249 | 5,179 | |||||
Computer software, office equipment and other | 568 | 398 | |||||
Construction in progress | 2,418 | 1,890 | |||||
Total | 16,446 | 11,803 | |||||
Less: Accumulated depreciation | (4,288 | ) | (3,212 | ) | |||
Property and equipment, net | $ | 12,158 | $ | 8,591 |
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Balance as of December 31, 2016 | $ | 18,122 | |
Goodwill acquired | 85 | ||
Effect of currency translation adjustment | 6 | ||
Balance as of September 30, 2017 | $ | 18,213 |
September 30, 2017 | December 31, 2016 | ||||||||||||||||||||||||
Weighted-Average Remaining Useful Lives (in years) | Gross Carrying Amount | Accumulated Amortization | Net Carrying Amount | Gross Carrying Amount | Accumulated Amortization | Net Carrying Amount | |||||||||||||||||||
Acquired users | 4.0 | $ | 2,056 | $ | (898 | ) | $ | 1,158 | $ | 2,056 | $ | (678 | ) | $ | 1,378 | ||||||||||
Acquired technology | 1.9 | 968 | (664 | ) | 304 | 931 | (518 | ) | 413 | ||||||||||||||||
Acquired patents | 5.9 | 785 | (481 | ) | 304 | 785 | (420 | ) | 365 | ||||||||||||||||
Trade names | 2.5 | 629 | (378 | ) | 251 | 629 | (293 | ) | 336 | ||||||||||||||||
Other | 2.8 | 162 | (129 | ) | 33 | 162 | (119 | ) | 43 | ||||||||||||||||
Total intangible assets | 3.8 | $ | 4,600 | $ | (2,550 | ) | $ | 2,050 | $ | 4,563 | $ | (2,028 | ) | $ | 2,535 |
The remainder of 2017 | $ | 170 | |
2018 | 631 | ||
2019 | 539 | ||
2020 | 364 | ||
2021 | 265 | ||
Thereafter | 81 | ||
Total | $ | 2,050 |
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Shares Subject to Options Outstanding | ||||||||||||
Number of Shares | Weighted Average Exercise Price | Weighted Average Remaining Contractual Term | Aggregate Intrinsic Value(1) | |||||||||
(in thousands) | (in years) | (in millions) | ||||||||||
Balance as of December 31, 2016 | 5,687 | $ | 7.78 | |||||||||
Stock options exercised | (2,410 | ) | 5.28 | |||||||||
Balance as of September 30, 2017 | 3,277 | $ | 9.63 | 2.6 | $ | 528 | ||||||
Stock options exercisable as of September 30, 2017 | 2,728 | $ | 8.55 | 2.5 | $ | 443 |
(1) | The aggregate intrinsic value is calculated as the difference between the exercise price of the underlying stock option awards and the official closing price of our Class A common stock of $170.87, as reported on the NASDAQ Global Select Market on September 30, 2017. |
Unvested RSUs(1) | ||||||
Number of Shares | Weighted Average Grant Date Fair Value | |||||
(in thousands) | ||||||
Unvested at December 31, 2016 | 98,586 | $ | 82.99 | |||
Granted | 32,549 | 143.38 | ||||
Vested | (32,968 | ) | 82.23 | |||
Forfeited | (4,913 | ) | 100.02 | |||
Unvested at September 30, 2017 | 93,254 | $ | 103.43 |
(1) | Unvested shares include inducement awards issued in connection with the WhatsApp acquisition in 2014 and are subject to the terms, restrictions, and conditions of separate non-plan RSU award agreements. |
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Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||
2017 | 2016 | 2017 | 2016 | ||||||||||||
Revenue: | |||||||||||||||
United States | $ | 4,482 | $ | 3,184 | $ | 12,057 | $ | 8,545 | |||||||
Rest of the world (1) | 5,846 | 3,827 | 15,624 | 10,284 | |||||||||||
Total revenue | $ | 10,328 | $ | 7,011 | $ | 27,681 | $ | 18,829 |
(1) | No individual country, other than disclosed above, exceeded 10% of our total revenue for any period presented. |
September 30, 2017 | December 31, 2016 | ||||||
Property and equipment, net: | |||||||
United States | $ | 9,248 | $ | 6,793 | |||
Rest of the world (1) | 2,910 | 1,798 | |||||
Total property and equipment, net | $ | 12,158 | $ | 8,591 |
(1) | No individual country, other than disclosed above, exceeded 10% of our total property and equipment, net for any period presented. |
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