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Balance Beginning of Period | Charged to Statement of Operations | Deductions (1) | Balance at End of Period | ||||||||||||
Allowance for Doubtful Accounts | |||||||||||||||
Year ended December 31, 2016 | $ | 125 | $ | 1,387 | $ | (1,349 | ) | $ | 163 | ||||||
Year ended December 26, 2015 | $ | — | $ | 991 | $ | (866 | ) | $ | 125 | ||||||
Year ended December 27, 2014 | $ | — | $ | 360 | $ | (360 | ) | $ | — |
• | Level 1 inputs - Unadjusted quoted prices in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date. |
• | Level 2 inputs - Inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. These might include quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the asset or liability (such as interest rates, volatilities, prepayment speeds, credit risks, etc.), or inputs that are derived principally from or corroborated by market data by correlation or other means. |
• | Level 3 inputs - Unobservable inputs for determining the fair values of assets or liabilities that reflect an entity’s own assumptions about the assumptions that market participants would use in pricing the assets or liabilities. |
December 31, 2016 | December 26, 2015 | ||||||||||||||||||||||||||||||
Fair Value Measurements Using Input Types | Fair Value Measurements Using Input Types | ||||||||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||||||||||||
Assets: | |||||||||||||||||||||||||||||||
Money market mutual funds | $ | 20,014 | $ | — | $ | — | $ | 20,014 | $ | 25,420 | $ | — | $ | — | $ | 25,420 | |||||||||||||||
Certificates of deposit | 15,000 | — | — | 15,000 | — | — | — | — | |||||||||||||||||||||||
Total assets | $ | 35,014 | $ | — | $ | — | $ | 35,014 | $ | 25,420 | $ | — | $ | — | $ | 25,420 | |||||||||||||||
Liabilities: | |||||||||||||||||||||||||||||||
Contingent acquisition consideration (included in current liabilities of discontinued operations) | $ | — | $ | — | $ | — | $ | — | $ | 8,163 | $ | — | $ | 7,878 | $ | 16,041 | |||||||||||||||
Total liabilities | $ | — | $ | — | $ | — | $ | — | $ | 8,163 | $ | — | $ | 7,878 | $ | 16,041 |
Fiscal Year Ended | |||
December 31, 2016 | |||
Contingent Acquisition Consideration | |||
Beginning balance (December 26, 2015) | $ | 7,878 | |
Decrease in fair value included in earnings | (441 | ) | |
Contingent acquisition consideration payments | (7,437 | ) | |
Ending balance | $ | — |
December 31, 2016 | December 26, 2015 | ||||||
Computer equipment | $ | 2,365 | $ | 2,236 | |||
Furniture and fixtures | 1,574 | 1,611 | |||||
Software | 1,373 | 1,374 | |||||
Leasehold improvements | 3,889 | 3,847 | |||||
Total | 9,201 | 9,068 | |||||
Less accumulated depreciation | (4,254 | ) | (2,697 | ) | |||
Property and equipment, net | $ | 4,947 | $ | 6,371 |
Estimated Useful Life | |
Computer equipment | 3 - 5 years |
Leasehold improvements | Lesser of asset life or lease term |
Furniture and fixtures | 3 - 5 years |
Software | 3 - 6 years |
|
Fiscal Year Ended | |||||||||||
December 31, 2016 | December 26, 2015 | December 27, 2014 | |||||||||
Revenue | $ | 101 | $ | 11,530 | 6,001 | ||||||
Cost of revenue | 108 | 11,849 | 6,882 | ||||||||
Operating expenses: | |||||||||||
Selling and marketing | 54 | 2,229 | 2,017 | ||||||||
Research and development | 11 | 904 | 768 | ||||||||
General and administrative | (7,835 | ) | 2,698 | 2,764 | |||||||
Impairment of goodwill and intangible assets | — | 8,766 | 36,227 | ||||||||
Depreciation and amortization | 8 | 99 | 76 | ||||||||
Operating (loss) income | 7,755 | (15,015 | ) | (42,733 | ) | ||||||
Other income (expense), net | 6 | (30 | ) | — | |||||||
Income (loss) from discontinued operations before income taxes | 7,761 | (15,045 | ) | (42,733 | ) | ||||||
Loss on disposal of assets before income taxes | — | (2,071 | ) | — | |||||||
Provision for income tax | — | — | — | ||||||||
Net income (loss) from discontinued operations | $ | 7,761 | $ | (17,116 | ) | $ | (42,733 | ) |
December 31, 2016 | December 26, 2015 | ||||||
Assets | |||||||
Accounts receivable | $ | — | $ | 92 | |||
Prepaid expenses and other current assets | — | 28 | |||||
Inventory | — | 319 | |||||
Total current assets | — | 439 | |||||
Property and equipment, net | — | 9 | |||||
Total assets | $ | — | $ | 448 | |||
Liabilities | |||||||
Accounts payable | $ | — | $ | 435 | |||
Accrued expenses and other liabilities | — | 1,325 | |||||
Deferred revenue | — | 82 | |||||
Current contingent acquisition consideration | — | 16,041 | |||||
Total liabilities | $ | — | $ | 17,883 |
|
December 26, 2015 | $ | 58,631 | |
Effect of currency translation | (721 | ) | |
December 31, 2016 | $ | 57,910 |
Gross Carrying Value | Accumulated Amortization | Net Carrying Value | Weighted-Average Remaining Life (Years) | ||||||||||
December 31, 2016 | |||||||||||||
Indefinite lived intangibles | $ | 242 | $ | — | $ | 242 | N/A | ||||||
Trademarks and trade names | 4,394 | (4,200 | ) | 194 | 2.5 | ||||||||
Proprietary software | 5,102 | (4,485 | ) | 617 | 1.3 | ||||||||
Website | 50 | (50 | ) | — | 0.0 | ||||||||
Training materials | 30 | (30 | ) | — | 0.0 | ||||||||
Non-compete agreements | 127 | (120 | ) | 7 | 0.6 | ||||||||
Leasehold interests | 170 | (111 | ) | 59 | 2.3 | ||||||||
Caregiver relationships | 276 | (276 | ) | — | 0.0 | ||||||||
Customer relationships | 8,754 | (8,165 | ) | 589 | 6.1 | ||||||||
Total | $ | 19,145 | $ | (17,437 | ) | $ | 1,708 | ||||||
December 26, 2015 | |||||||||||||
Indefinite lived intangibles | $ | 242 | $ | — | $ | 242 | N/A | ||||||
Trademarks and trade names | 4,417 | (4,133 | ) | 284 | 3.5 | ||||||||
Proprietary software | 4,751 | (3,802 | ) | 949 | 1.6 | ||||||||
Website | 50 | (44 | ) | 6 | 0.6 | ||||||||
Training materials | 30 | (30 | ) | — | 0.0 | ||||||||
Non-compete agreements | 130 | (111 | ) | 19 | 1.6 | ||||||||
Leasehold interests | 170 | (86 | ) | 84 | 3.4 | ||||||||
Caregiver relationships | 285 | (285 | ) | — | 0.0 | ||||||||
Customer relationships | 8,782 | (6,977 | ) | 1,805 | 3.1 | ||||||||
Total | $ | 18,857 | $ | (15,468 | ) | $ | 3,389 |
2017 | $ | 684 | |
2018 | 339 | ||
2019 | 143 | ||
2020 | 96 | ||
2021 | 96 | ||
Thereafter | 108 | ||
Total | $ | 1,466 |
|
December 31, 2016 | December 26, 2015 | ||||||
Payroll and compensation | $ | 4,489 | $ | 5,167 | |||
Tax-related expenses | 1,358 | 801 | |||||
Marketing expenses | 3,017 | 3,451 | |||||
Other accrued expenses | 3,934 | 2,994 | |||||
Total accrued expenses and other current liabilities | $ | 12,798 | $ | 12,413 |
|
Operating Leases | |||
2017 | $ | 4,539 | |
2018 | 4,600 | ||
2019 | 5,052 | ||
2020 | 5,167 | ||
2021 | 4,941 | ||
Thereafter | 15,170 | ||
Total | $ | 39,469 |
|
Fiscal Year Ended | |||||||||||
December 31, 2016 | December 26, 2015 | December 27, 2014 | |||||||||
Cost of revenue | $ | 316 | $ | 236 | $ | 156 | |||||
Selling and marketing | 898 | 813 | 582 | ||||||||
Research and development | 1,103 | 760 | 437 | ||||||||
General and administrative | 4,153 | 3,116 | 2,704 | ||||||||
Income (loss) from discontinued operations | 14 | 589 | 1,926 | ||||||||
Total stock-based compensation | $ | 6,484 | $ | 5,514 | $ | 5,805 |
Fiscal Year Ended | |||||
December 31, 2016 | December 26, 2015 | December 27, 2014 | |||
Risk-free interest rate | 1.19 - 2.23 % | N/A | 1.81 - 1.95 % | ||
Expected term (years) | 6.25 | N/A | 6.25 | ||
Volatility | 33.3 - 38.2 % | N/A | 47.1 - 56.3 % | ||
Expected dividend yield | —% | N/A | —% |
Stock Options | Restricted Stock Units | ||||||||||||||||||
Shares | Weighted-Average Remaining Contractual Term (Years) | Weighted-Average Exercise Price | Aggregate Intrinsic Value | Shares | Weighted-Average Grant Date Fair Value | ||||||||||||||
Outstanding as of December 26, 2015 | 3,482 | 5.93 | $ | 6.52 | $ | 8,891 | 1,306 | $ | 7.42 | ||||||||||
Granted (1) | 1,463 | 6.95 | 1,151 | 6.79 | |||||||||||||||
Settled (RSUs) | — | — | (500 | ) | 7.29 | ||||||||||||||
Exercised | (373 | ) | 3.76 | — | — | ||||||||||||||
Canceled and forfeited | (260 | ) | 10.92 | (177 | ) | 7.07 | |||||||||||||
Outstanding as of December 31, 2016 | 4,312 | 6.45 | $ | 6.64 | $ | 13,042 | 1,780 | $ | 7.08 | ||||||||||
Vested and exercisable as of December 31, 2016 | 2,932 | 5.30 | 5.95 | 10,912 | N/A | N/A | |||||||||||||
Vested and expected to vest as of December 31, 2016 (2) | 4,110 | 6.32 | $ | 6.59 | $ | 12,715 | 1,131 | $ | 7.22 |
December 31, 2016 | ||
Options issued and outstanding | 4,312 | |
Restricted stock units issued and outstanding | 1,780 | |
Common stock available for stock-based award grants under incentive award plans | 2,452 | |
Common stock available for conversion of Series A Redeemable Convertible Preferred Stock | 4,539 | |
Total | 13,083 |
|
Preferred Stock Authorized | Issuance Date | Issued and Outstanding | Liquidation Preference as of June 29, 2023 | Carrying Value | Common Stock Issuable Upon Conversion as of June 29, 2023 | |||||||||||
Series A | 46,350 | June 29, 2016 | 46,350 | $67,763 | $ | 47,660 | 6,453,660 |
|
Fiscal Year Ended | |||||||||||
December 31, 2016 | December 26, 2015 | December 27, 2014 | |||||||||
United States | $ | 721 | $ | (13,318 | ) | $ | (32,730 | ) | |||
Foreign | (154 | ) | (3,340 | ) | (5,581 | ) | |||||
Income (loss) from continuing operations before income taxes | $ | 567 | $ | (16,658 | ) | $ | (38,311 | ) |
Fiscal Year Ended | |||||||||||
December 31, 2016 | December 26, 2015 | December 27, 2014 | |||||||||
Current: | |||||||||||
Federal | $ | — | $ | — | $ | — | |||||
State | 88 | 94 | 108 | ||||||||
Foreign | 85 | 33 | 33 | ||||||||
Total current provision for income taxes | 173 | 127 | 141 | ||||||||
Deferred: | |||||||||||
Federal | 893 | 883 | (757 | ) | |||||||
State | 216 | 211 | (136 | ) | |||||||
Foreign | — | — | — | ||||||||
Total deferred tax provision (benefit) | 1,110 | 1,094 | (893 | ) | |||||||
Total provision for (benefit from) income taxes | $ | 1,282 | $ | 1,221 | $ | (752 | ) |
Fiscal Year Ended | ||||||||
December 31, 2016 | December 26, 2015 | December 27, 2014 | ||||||
U.S. federal taxes at statutory rate | 34 | % | 34 | % | 34 | % | ||
State income taxes, net of federal benefit | 35 | (1 | ) | — | ||||
Permanent differences | 108 | (3 | ) | (3 | ) | |||
Foreign rate differential | (5 | ) | (1 | ) | (1 | ) | ||
Change in valuation allowance - U.S. | 27 | (31 | ) | (24 | ) | |||
Change in valuation allowance - foreign | 27 | (5 | ) | (4 | ) | |||
Total | 226 | % | (7 | )% | 2 | % |
Fiscal Year Ended | |||||||
December 31, 2016 | December 26, 2015 | ||||||
Deferred tax assets | |||||||
Net operating loss carryforwards | $ | 53,611 | $ | 45,881 | |||
Accrued expenses | 3,202 | 3,045 | |||||
Stock-based compensation | 2,342 | 1,922 | |||||
U.S. definite lived intangibles | 5,214 | 5,058 | |||||
Other temporary differences | 433 | 1,217 | |||||
Total deferred tax assets | 64,802 | 57,123 | |||||
Valuation allowance | (64,229 | ) | (56,304 | ) | |||
Net deferred tax assets | 573 | 819 | |||||
Deferred tax liabilities | |||||||
Foreign intangibles | (59 | ) | (111 | ) | |||
U.S. goodwill | (4,276 | ) | (3,166 | ) | |||
Fixed assets | (514 | ) | (708 | ) | |||
Total deferred tax liabilities | (4,849 | ) | (3,985 | ) | |||
Net deferred tax liabilities | $ | (4,276 | ) | $ | (3,166 | ) |
|
Fiscal Year Ended | |||||||||||
December 31, 2016 | December 26, 2015 | December 27, 2014 | |||||||||
U.S. Consumer Business | $ | 130,327 | $ | 115,020 | $ | 96,524 | |||||
Other | 31,427 | 23,661 | 14,188 | ||||||||
Total revenue | $ | 161,754 | $ | 138,681 | $ | 110,712 |
Fiscal Year Ended | |||||||||||
December 31, 2016 | December 26, 2015 | December 27, 2014 | |||||||||
United States | $ | 147,830 | $ | 129,085 | $ | 102,047 | |||||
International | 13,924 | 9,596 | 8,665 | ||||||||
Total revenue | $ | 161,754 | $ | 138,681 | $ | 110,712 |
Fiscal Year Ended | ||||||||
December 31, 2016 | December 26, 2015 | December 27, 2014 | ||||||
United States | 91 | % | 93 | % | 92 | % | ||
International | 9 | % | 7 | % | 8 | % | ||
Total revenue | 100 | % | 100 | % | 100 | % |
|
|
|
December 31, 2016 | |||
Restructuring Liability | |||
December 26, 2015 | $ | — | |
Restructuring charges | 714 | ||
Payments | (258 | ) | |
Changes in estimate | — | ||
Accretion of sublease liability | (100 | ) | |
December 31, 2016 | $ | 356 |
|
Fiscal Year Ended | |||||||||||
December 31, 2016 | December 26, 2015 | December 27, 2014 | |||||||||
Interest income | 225 | 72 | 86 | ||||||||
Interest expense | (4 | ) | (3 | ) | (43 | ) | |||||
Loss on exchange | (1,285 | ) | (1,306 | ) | (1,030 | ) | |||||
Other income (expense) | — | (2 | ) | (2,869 | ) | ||||||
Total other expense, net | $ | (1,064 | ) | $ | (1,239 | ) | $ | (3,856 | ) |
|
For the Quarter Ended | |||||||||||||||
December 31, 2016 | September 24, 2016 | June 25, 2016 | March 26, 2016 | ||||||||||||
Total revenue | $ | 43,513 | $ | 40,791 | $ | 38,184 | $ | 39,266 | |||||||
Cost of revenue | 8,573 | 8,396 | 7,619 | 7,242 | |||||||||||
Income (loss) from continuing operations | 5,004 | (1,221 | ) | (3,375 | ) | (1,123 | ) | ||||||||
(Loss) income from discontinued operations, net of tax | (24 | ) | (49 | ) | (44 | ) | 7,878 | ||||||||
Net income (loss) | 4,980 | (1,270 | ) | (3,419 | ) | 6,755 | |||||||||
Net income (loss) attributable to common stockholders | $ | 3,704 | $ | (4,010 | ) | $ | (3,419 | ) | $ | 6,755 | |||||
Net income (loss) per share attributable to common stockholders (Basic): | |||||||||||||||
Income (loss) per share from continuing operations attributable to common stockholders | $ | 0.13 | $ | (0.14 | ) | $ | (0.11 | ) | $ | (0.03 | ) | ||||
Income (loss) per share from discontinued operations attributable to common stockholders | — | — | — | 0.24 | |||||||||||
Net income (loss) per share attributable to common stockholders | $ | 0.13 | $ | (0.14 | ) | $ | (0.11 | ) | $ | 0.21 | |||||
Net income (loss) per share attributable to common stockholders (Diluted): | |||||||||||||||
Income (loss) per share from continuing operations attributable to common stockholders | $ | 0.12 | $ | (0.14 | ) | $ | (0.11 | ) | $ | (0.03 | ) | ||||
Income (loss) per share from discontinued operations attributable to common stockholders | — | — | — | 0.24 | |||||||||||
Net income (loss) per share attributable to common stockholders * | $ | 0.12 | $ | (0.14 | ) | $ | (0.11 | ) | $ | 0.21 | |||||
* Note the diluted share total used in the calculation of net income (loss) per share in Q4 FY’16 was 30,815 | |||||||||||||||
For the Quarter Ended | |||||||||||||||
December 26, 2015 | September 26, 2015 | June 27, 2015 | March 28, 2015 | ||||||||||||
Total revenue | $ | 37,550 | $ | 36,179 | $ | 32,903 | $ | 32,049 | |||||||
Cost of revenue | 6,321 | 6,894 | 6,630 | 6,272 | |||||||||||
Income (loss) from continuing operations | 3,683 | (6,364 | ) | (5,404 | ) | (9,794 | ) | ||||||||
Loss from discontinued operations, net of tax | (2,084 | ) | (10,985 | ) | (1,831 | ) | (2,216 | ) | |||||||
Net income (loss) | 1,599 | (17,349 | ) | (7,235 | ) | (12,010 | ) | ||||||||
Net loss per share (Basic): | |||||||||||||||
Income (loss) per share from continuing operations | $ | 0.11 | $ | (0.20 | ) | $ | (0.17 | ) | $ | (0.31 | ) | ||||
Loss per share from discontinued operations | (0.06 | ) | (0.34 | ) | (0.06 | ) | (0.07 | ) | |||||||
Net income (loss) per share | $ | 0.05 | $ | (0.54 | ) | $ | (0.23 | ) | $ | (0.38 | ) | ||||
Net income (loss) per share (Diluted): | |||||||||||||||
Income (loss) per share from continuing operations | $ | 0.11 | $ | (0.20 | ) | $ | (0.17 | ) | $ | (0.31 | ) | ||||
Loss per share from discontinued operations | (0.06 | ) | (0.34 | ) | (0.06 | ) | (0.07 | ) | |||||||
Net income (loss) per share* | $ | 0.05 | $ | (0.54 | ) | $ | (0.23 | ) | $ | (0.38 | ) | ||||
* Note the diluted share total used in the calculation of net income (loss) per share in Q4 FY’15 was 33,094 |
|
• | Level 1 inputs - Unadjusted quoted prices in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date. |
• | Level 2 inputs - Inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. These might include quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the asset or liability (such as interest rates, volatilities, prepayment speeds, credit risks, etc.), or inputs that are derived principally from or corroborated by market data by correlation or other means. |
• | Level 3 inputs - Unobservable inputs for determining the fair values of assets or liabilities that reflect an entity’s own assumptions about the assumptions that market participants would use in pricing the assets or liabilities. |
|
Balance Beginning of Period | Charged to Statement of Operations | Deductions (1) | Balance at End of Period | ||||||||||||
Allowance for Doubtful Accounts | |||||||||||||||
Year ended December 31, 2016 | $ | 125 | $ | 1,387 | $ | (1,349 | ) | $ | 163 | ||||||
Year ended December 26, 2015 | $ | — | $ | 991 | $ | (866 | ) | $ | 125 | ||||||
Year ended December 27, 2014 | $ | — | $ | 360 | $ | (360 | ) | $ | — |
December 31, 2016 | December 26, 2015 | ||||||||||||||||||||||||||||||
Fair Value Measurements Using Input Types | Fair Value Measurements Using Input Types | ||||||||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||||||||||||
Assets: | |||||||||||||||||||||||||||||||
Money market mutual funds | $ | 20,014 | $ | — | $ | — | $ | 20,014 | $ | 25,420 | $ | — | $ | — | $ | 25,420 | |||||||||||||||
Certificates of deposit | 15,000 | — | — | 15,000 | — | — | — | — | |||||||||||||||||||||||
Total assets | $ | 35,014 | $ | — | $ | — | $ | 35,014 | $ | 25,420 | $ | — | $ | — | $ | 25,420 | |||||||||||||||
Liabilities: | |||||||||||||||||||||||||||||||
Contingent acquisition consideration (included in current liabilities of discontinued operations) | $ | — | $ | — | $ | — | $ | — | $ | 8,163 | $ | — | $ | 7,878 | $ | 16,041 | |||||||||||||||
Total liabilities | $ | — | $ | — | $ | — | $ | — | $ | 8,163 | $ | — | $ | 7,878 | $ | 16,041 |
Fiscal Year Ended | |||
December 31, 2016 | |||
Contingent Acquisition Consideration | |||
Beginning balance (December 26, 2015) | $ | 7,878 | |
Decrease in fair value included in earnings | (441 | ) | |
Contingent acquisition consideration payments | (7,437 | ) | |
Ending balance | $ | — |
December 31, 2016 | December 26, 2015 | ||||||
Computer equipment | $ | 2,365 | $ | 2,236 | |||
Furniture and fixtures | 1,574 | 1,611 | |||||
Software | 1,373 | 1,374 | |||||
Leasehold improvements | 3,889 | 3,847 | |||||
Total | 9,201 | 9,068 | |||||
Less accumulated depreciation | (4,254 | ) | (2,697 | ) | |||
Property and equipment, net | $ | 4,947 | $ | 6,371 |
Estimated Useful Life | |
Computer equipment | 3 - 5 years |
Leasehold improvements | Lesser of asset life or lease term |
Furniture and fixtures | 3 - 5 years |
Software | 3 - 6 years |
|
Fiscal Year Ended | |||||||||||
December 31, 2016 | December 26, 2015 | December 27, 2014 | |||||||||
Revenue | $ | 101 | $ | 11,530 | 6,001 | ||||||
Cost of revenue | 108 | 11,849 | 6,882 | ||||||||
Operating expenses: | |||||||||||
Selling and marketing | 54 | 2,229 | 2,017 | ||||||||
Research and development | 11 | 904 | 768 | ||||||||
General and administrative | (7,835 | ) | 2,698 | 2,764 | |||||||
Impairment of goodwill and intangible assets | — | 8,766 | 36,227 | ||||||||
Depreciation and amortization | 8 | 99 | 76 | ||||||||
Operating (loss) income | 7,755 | (15,015 | ) | (42,733 | ) | ||||||
Other income (expense), net | 6 | (30 | ) | — | |||||||
Income (loss) from discontinued operations before income taxes | 7,761 | (15,045 | ) | (42,733 | ) | ||||||
Loss on disposal of assets before income taxes | — | (2,071 | ) | — | |||||||
Provision for income tax | — | — | — | ||||||||
Net income (loss) from discontinued operations | $ | 7,761 | $ | (17,116 | ) | $ | (42,733 | ) |
December 31, 2016 | December 26, 2015 | ||||||
Assets | |||||||
Accounts receivable | $ | — | $ | 92 | |||
Prepaid expenses and other current assets | — | 28 | |||||
Inventory | — | 319 | |||||
Total current assets | — | 439 | |||||
Property and equipment, net | — | 9 | |||||
Total assets | $ | — | $ | 448 | |||
Liabilities | |||||||
Accounts payable | $ | — | $ | 435 | |||
Accrued expenses and other liabilities | — | 1,325 | |||||
Deferred revenue | — | 82 | |||||
Current contingent acquisition consideration | — | 16,041 | |||||
Total liabilities | $ | — | $ | 17,883 |
|
December 26, 2015 | $ | 58,631 | |
Effect of currency translation | (721 | ) | |
December 31, 2016 | $ | 57,910 |
Gross Carrying Value | Accumulated Amortization | Net Carrying Value | Weighted-Average Remaining Life (Years) | ||||||||||
December 31, 2016 | |||||||||||||
Indefinite lived intangibles | $ | 242 | $ | — | $ | 242 | N/A | ||||||
Trademarks and trade names | 4,394 | (4,200 | ) | 194 | 2.5 | ||||||||
Proprietary software | 5,102 | (4,485 | ) | 617 | 1.3 | ||||||||
Website | 50 | (50 | ) | — | 0.0 | ||||||||
Training materials | 30 | (30 | ) | — | 0.0 | ||||||||
Non-compete agreements | 127 | (120 | ) | 7 | 0.6 | ||||||||
Leasehold interests | 170 | (111 | ) | 59 | 2.3 | ||||||||
Caregiver relationships | 276 | (276 | ) | — | 0.0 | ||||||||
Customer relationships | 8,754 | (8,165 | ) | 589 | 6.1 | ||||||||
Total | $ | 19,145 | $ | (17,437 | ) | $ | 1,708 | ||||||
December 26, 2015 | |||||||||||||
Indefinite lived intangibles | $ | 242 | $ | — | $ | 242 | N/A | ||||||
Trademarks and trade names | 4,417 | (4,133 | ) | 284 | 3.5 | ||||||||
Proprietary software | 4,751 | (3,802 | ) | 949 | 1.6 | ||||||||
Website | 50 | (44 | ) | 6 | 0.6 | ||||||||
Training materials | 30 | (30 | ) | — | 0.0 | ||||||||
Non-compete agreements | 130 | (111 | ) | 19 | 1.6 | ||||||||
Leasehold interests | 170 | (86 | ) | 84 | 3.4 | ||||||||
Caregiver relationships | 285 | (285 | ) | — | 0.0 | ||||||||
Customer relationships | 8,782 | (6,977 | ) | 1,805 | 3.1 | ||||||||
Total | $ | 18,857 | $ | (15,468 | ) | $ | 3,389 |
Gross Carrying Value | Accumulated Amortization | Net Carrying Value | Weighted-Average Remaining Life (Years) | ||||||||||
December 31, 2016 | |||||||||||||
Indefinite lived intangibles | $ | 242 | $ | — | $ | 242 | N/A | ||||||
Trademarks and trade names | 4,394 | (4,200 | ) | 194 | 2.5 | ||||||||
Proprietary software | 5,102 | (4,485 | ) | 617 | 1.3 | ||||||||
Website | 50 | (50 | ) | — | 0.0 | ||||||||
Training materials | 30 | (30 | ) | — | 0.0 | ||||||||
Non-compete agreements | 127 | (120 | ) | 7 | 0.6 | ||||||||
Leasehold interests | 170 | (111 | ) | 59 | 2.3 | ||||||||
Caregiver relationships | 276 | (276 | ) | — | 0.0 | ||||||||
Customer relationships | 8,754 | (8,165 | ) | 589 | 6.1 | ||||||||
Total | $ | 19,145 | $ | (17,437 | ) | $ | 1,708 | ||||||
December 26, 2015 | |||||||||||||
Indefinite lived intangibles | $ | 242 | $ | — | $ | 242 | N/A | ||||||
Trademarks and trade names | 4,417 | (4,133 | ) | 284 | 3.5 | ||||||||
Proprietary software | 4,751 | (3,802 | ) | 949 | 1.6 | ||||||||
Website | 50 | (44 | ) | 6 | 0.6 | ||||||||
Training materials | 30 | (30 | ) | — | 0.0 | ||||||||
Non-compete agreements | 130 | (111 | ) | 19 | 1.6 | ||||||||
Leasehold interests | 170 | (86 | ) | 84 | 3.4 | ||||||||
Caregiver relationships | 285 | (285 | ) | — | 0.0 | ||||||||
Customer relationships | 8,782 | (6,977 | ) | 1,805 | 3.1 | ||||||||
Total | $ | 18,857 | $ | (15,468 | ) | $ | 3,389 |
2017 | $ | 684 | |
2018 | 339 | ||
2019 | 143 | ||
2020 | 96 | ||
2021 | 96 | ||
Thereafter | 108 | ||
Total | $ | 1,466 |
|
December 31, 2016 | December 26, 2015 | ||||||
Payroll and compensation | $ | 4,489 | $ | 5,167 | |||
Tax-related expenses | 1,358 | 801 | |||||
Marketing expenses | 3,017 | 3,451 | |||||
Other accrued expenses | 3,934 | 2,994 | |||||
Total accrued expenses and other current liabilities | $ | 12,798 | $ | 12,413 |
|
Operating Leases | |||
2017 | $ | 4,539 | |
2018 | 4,600 | ||
2019 | 5,052 | ||
2020 | 5,167 | ||
2021 | 4,941 | ||
Thereafter | 15,170 | ||
Total | $ | 39,469 |
|
Fiscal Year Ended | |||||||||||
December 31, 2016 | December 26, 2015 | December 27, 2014 | |||||||||
Cost of revenue | $ | 316 | $ | 236 | $ | 156 | |||||
Selling and marketing | 898 | 813 | 582 | ||||||||
Research and development | 1,103 | 760 | 437 | ||||||||
General and administrative | 4,153 | 3,116 | 2,704 | ||||||||
Income (loss) from discontinued operations | 14 | 589 | 1,926 | ||||||||
Total stock-based compensation | $ | 6,484 | $ | 5,514 | $ | 5,805 |
Fiscal Year Ended | |||||
December 31, 2016 | December 26, 2015 | December 27, 2014 | |||
Risk-free interest rate | 1.19 - 2.23 % | N/A | 1.81 - 1.95 % | ||
Expected term (years) | 6.25 | N/A | 6.25 | ||
Volatility | 33.3 - 38.2 % | N/A | 47.1 - 56.3 % | ||
Expected dividend yield | —% | N/A | —% |
Stock Options | Restricted Stock Units | ||||||||||||||||||
Shares | Weighted-Average Remaining Contractual Term (Years) | Weighted-Average Exercise Price | Aggregate Intrinsic Value | Shares | Weighted-Average Grant Date Fair Value | ||||||||||||||
Outstanding as of December 26, 2015 | 3,482 | 5.93 | $ | 6.52 | $ | 8,891 | 1,306 | $ | 7.42 | ||||||||||
Granted (1) | 1,463 | 6.95 | 1,151 | 6.79 | |||||||||||||||
Settled (RSUs) | — | — | (500 | ) | 7.29 | ||||||||||||||
Exercised | (373 | ) | 3.76 | — | — | ||||||||||||||
Canceled and forfeited | (260 | ) | 10.92 | (177 | ) | 7.07 | |||||||||||||
Outstanding as of December 31, 2016 | 4,312 | 6.45 | $ | 6.64 | $ | 13,042 | 1,780 | $ | 7.08 | ||||||||||
Vested and exercisable as of December 31, 2016 | 2,932 | 5.30 | 5.95 | 10,912 | N/A | N/A | |||||||||||||
Vested and expected to vest as of December 31, 2016 (2) | 4,110 | 6.32 | $ | 6.59 | $ | 12,715 | 1,131 | $ | 7.22 |
December 31, 2016 | ||
Options issued and outstanding | 4,312 | |
Restricted stock units issued and outstanding | 1,780 | |
Common stock available for stock-based award grants under incentive award plans | 2,452 | |
Common stock available for conversion of Series A Redeemable Convertible Preferred Stock | 4,539 | |
Total | 13,083 |
|
Preferred Stock Authorized | Issuance Date | Issued and Outstanding | Liquidation Preference as of June 29, 2023 | Carrying Value | Common Stock Issuable Upon Conversion as of June 29, 2023 | |||||||||||
Series A | 46,350 | June 29, 2016 | 46,350 | $67,763 | $ | 47,660 | 6,453,660 |
|
Fiscal Year Ended | |||||||||||
December 31, 2016 | December 26, 2015 | December 27, 2014 | |||||||||
United States | $ | 721 | $ | (13,318 | ) | $ | (32,730 | ) | |||
Foreign | (154 | ) | (3,340 | ) | (5,581 | ) | |||||
Income (loss) from continuing operations before income taxes | $ | 567 | $ | (16,658 | ) | $ | (38,311 | ) |
Fiscal Year Ended | |||||||||||
December 31, 2016 | December 26, 2015 | December 27, 2014 | |||||||||
Current: | |||||||||||
Federal | $ | — | $ | — | $ | — | |||||
State | 88 | 94 | 108 | ||||||||
Foreign | 85 | 33 | 33 | ||||||||
Total current provision for income taxes | 173 | 127 | 141 | ||||||||
Deferred: | |||||||||||
Federal | 893 | 883 | (757 | ) | |||||||
State | 216 | 211 | (136 | ) | |||||||
Foreign | — | — | — | ||||||||
Total deferred tax provision (benefit) | 1,110 | 1,094 | (893 | ) | |||||||
Total provision for (benefit from) income taxes | $ | 1,282 | $ | 1,221 | $ | (752 | ) |
Fiscal Year Ended | ||||||||
December 31, 2016 | December 26, 2015 | December 27, 2014 | ||||||
U.S. federal taxes at statutory rate | 34 | % | 34 | % | 34 | % | ||
State income taxes, net of federal benefit | 35 | (1 | ) | — | ||||
Permanent differences | 108 | (3 | ) | (3 | ) | |||
Foreign rate differential | (5 | ) | (1 | ) | (1 | ) | ||
Change in valuation allowance - U.S. | 27 | (31 | ) | (24 | ) | |||
Change in valuation allowance - foreign | 27 | (5 | ) | (4 | ) | |||
Total | 226 | % | (7 | )% | 2 | % |
Fiscal Year Ended | |||||||
December 31, 2016 | December 26, 2015 | ||||||
Deferred tax assets | |||||||
Net operating loss carryforwards | $ | 53,611 | $ | 45,881 | |||
Accrued expenses | 3,202 | 3,045 | |||||
Stock-based compensation | 2,342 | 1,922 | |||||
U.S. definite lived intangibles | 5,214 | 5,058 | |||||
Other temporary differences | 433 | 1,217 | |||||
Total deferred tax assets | 64,802 | 57,123 | |||||
Valuation allowance | (64,229 | ) | (56,304 | ) | |||
Net deferred tax assets | 573 | 819 | |||||
Deferred tax liabilities | |||||||
Foreign intangibles | (59 | ) | (111 | ) | |||
U.S. goodwill | (4,276 | ) | (3,166 | ) | |||
Fixed assets | (514 | ) | (708 | ) | |||
Total deferred tax liabilities | (4,849 | ) | (3,985 | ) | |||
Net deferred tax liabilities | $ | (4,276 | ) | $ | (3,166 | ) |
|
Fiscal Year Ended | |||||||||||
December 31, 2016 | December 26, 2015 | December 27, 2014 | |||||||||
U.S. Consumer Business | $ | 130,327 | $ | 115,020 | $ | 96,524 | |||||
Other | 31,427 | 23,661 | 14,188 | ||||||||
Total revenue | $ | 161,754 | $ | 138,681 | $ | 110,712 |
Fiscal Year Ended | |||||||||||
December 31, 2016 | December 26, 2015 | December 27, 2014 | |||||||||
United States | $ | 147,830 | $ | 129,085 | $ | 102,047 | |||||
International | 13,924 | 9,596 | 8,665 | ||||||||
Total revenue | $ | 161,754 | $ | 138,681 | $ | 110,712 |
Fiscal Year Ended | ||||||||
December 31, 2016 | December 26, 2015 | December 27, 2014 | ||||||
United States | 91 | % | 93 | % | 92 | % | ||
International | 9 | % | 7 | % | 8 | % | ||
Total revenue | 100 | % | 100 | % | 100 | % |
|
December 31, 2016 | |||
Restructuring Liability | |||
December 26, 2015 | $ | — | |
Restructuring charges | 714 | ||
Payments | (258 | ) | |
Changes in estimate | — | ||
Accretion of sublease liability | (100 | ) | |
December 31, 2016 | $ | 356 |
|
Fiscal Year Ended | |||||||||||
December 31, 2016 | December 26, 2015 | December 27, 2014 | |||||||||
Interest income | 225 | 72 | 86 | ||||||||
Interest expense | (4 | ) | (3 | ) | (43 | ) | |||||
Loss on exchange | (1,285 | ) | (1,306 | ) | (1,030 | ) | |||||
Other income (expense) | — | (2 | ) | (2,869 | ) | ||||||
Total other expense, net | $ | (1,064 | ) | $ | (1,239 | ) | $ | (3,856 | ) |
|
For the Quarter Ended | |||||||||||||||
December 31, 2016 | September 24, 2016 | June 25, 2016 | March 26, 2016 | ||||||||||||
Total revenue | $ | 43,513 | $ | 40,791 | $ | 38,184 | $ | 39,266 | |||||||
Cost of revenue | 8,573 | 8,396 | 7,619 | 7,242 | |||||||||||
Income (loss) from continuing operations | 5,004 | (1,221 | ) | (3,375 | ) | (1,123 | ) | ||||||||
(Loss) income from discontinued operations, net of tax | (24 | ) | (49 | ) | (44 | ) | 7,878 | ||||||||
Net income (loss) | 4,980 | (1,270 | ) | (3,419 | ) | 6,755 | |||||||||
Net income (loss) attributable to common stockholders | $ | 3,704 | $ | (4,010 | ) | $ | (3,419 | ) | $ | 6,755 | |||||
Net income (loss) per share attributable to common stockholders (Basic): | |||||||||||||||
Income (loss) per share from continuing operations attributable to common stockholders | $ | 0.13 | $ | (0.14 | ) | $ | (0.11 | ) | $ | (0.03 | ) | ||||
Income (loss) per share from discontinued operations attributable to common stockholders | — | — | — | 0.24 | |||||||||||
Net income (loss) per share attributable to common stockholders | $ | 0.13 | $ | (0.14 | ) | $ | (0.11 | ) | $ | 0.21 | |||||
Net income (loss) per share attributable to common stockholders (Diluted): | |||||||||||||||
Income (loss) per share from continuing operations attributable to common stockholders | $ | 0.12 | $ | (0.14 | ) | $ | (0.11 | ) | $ | (0.03 | ) | ||||
Income (loss) per share from discontinued operations attributable to common stockholders | — | — | — | 0.24 | |||||||||||
Net income (loss) per share attributable to common stockholders * | $ | 0.12 | $ | (0.14 | ) | $ | (0.11 | ) | $ | 0.21 | |||||
* Note the diluted share total used in the calculation of net income (loss) per share in Q4 FY’16 was 30,815 | |||||||||||||||
For the Quarter Ended | |||||||||||||||
December 26, 2015 | September 26, 2015 | June 27, 2015 | March 28, 2015 | ||||||||||||
Total revenue | $ | 37,550 | $ | 36,179 | $ | 32,903 | $ | 32,049 | |||||||
Cost of revenue | 6,321 | 6,894 | 6,630 | 6,272 | |||||||||||
Income (loss) from continuing operations | 3,683 | (6,364 | ) | (5,404 | ) | (9,794 | ) | ||||||||
Loss from discontinued operations, net of tax | (2,084 | ) | (10,985 | ) | (1,831 | ) | (2,216 | ) | |||||||
Net income (loss) | 1,599 | (17,349 | ) | (7,235 | ) | (12,010 | ) | ||||||||
Net loss per share (Basic): | |||||||||||||||
Income (loss) per share from continuing operations | $ | 0.11 | $ | (0.20 | ) | $ | (0.17 | ) | $ | (0.31 | ) | ||||
Loss per share from discontinued operations | (0.06 | ) | (0.34 | ) | (0.06 | ) | (0.07 | ) | |||||||
Net income (loss) per share | $ | 0.05 | $ | (0.54 | ) | $ | (0.23 | ) | $ | (0.38 | ) | ||||
Net income (loss) per share (Diluted): | |||||||||||||||
Income (loss) per share from continuing operations | $ | 0.11 | $ | (0.20 | ) | $ | (0.17 | ) | $ | (0.31 | ) | ||||
Loss per share from discontinued operations | (0.06 | ) | (0.34 | ) | (0.06 | ) | (0.07 | ) | |||||||
Net income (loss) per share* | $ | 0.05 | $ | (0.54 | ) | $ | (0.23 | ) | $ | (0.38 | ) | ||||
* Note the diluted share total used in the calculation of net income (loss) per share in Q4 FY’15 was 33,094 |
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