GOPRO, INC., 10-K filed on 2/11/2022
Annual Report
v3.22.0.1
Cover - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2021
Jan. 31, 2022
Jun. 30, 2021
Class of Stock [Line Items]      
Entity Incorporation, State or Country Code DE    
Entity Tax Identification Number 77-0629474    
Entity Address, Address Line One 3025 Clearview Way    
Entity Address, City or Town San Mateo,    
Entity Address, State or Province CA    
Entity Address, Postal Zip Code 94402    
Title of 12(b) Security Class A common stock, $0.0001 par value    
Trading Symbol GPRO    
Entity Registrant Name GOPRO, INC.    
City Area Code (650)    
Local Phone Number 332-7600    
Entity Central Index Key 0001500435    
Entity Filer Category Large Accelerated Filer    
Document Type 10-K    
Document Period End Date Dec. 31, 2021    
Document Transition Report false    
Entity File Number 001-36514    
Document Fiscal Year Focus 2021    
Document Fiscal Period Focus FY    
Amendment Flag false    
Entity Emerging Growth Company false    
Entity Current Reporting Status Yes    
Entity Interactive Data Current Yes    
Entity Shell Company false    
Security Exchange Name NASDAQ    
Entity Well-known Seasoned Issuer Yes    
Entity Voluntary Filers No    
ICFR Auditor Attestation Flag true    
Document Annual Report true    
Entity Small Business false    
Entity Public Float     $ 1,453,745
Current Fiscal Year End Date --12-31    
Common Class A [Member]      
Class of Stock [Line Items]      
Entity Common Stock, Shares Outstanding   130,023,648  
Common Class B [Member]      
Class of Stock [Line Items]      
Entity Common Stock, Shares Outstanding   26,458,546  
v3.22.0.1
Audit Information
 12 Months Ended
Dec. 31, 2021
Audit Information [Abstract]  
Auditor Name PricewaterhouseCoopers LLP
Auditor Location San Jose, California
Auditor Firm ID 238
v3.22.0.1
Condensed Consolidated Balance Sheets - USD ($)
Jan. 01, 2022
Dec. 31, 2021
Dec. 31, 2020
Current assets:      
Cash and cash equivalents   $ 401,087,000 $ 325,654,000
Marketable securities   137,830,000 0
Accounts receivable, net   114,221,000 107,244,000
Inventory   86,409,000 97,914,000
Prepaid expenses and other current assets   42,311,000 23,872,000
Total current assets   781,858,000 556,684,000
Property and equipment, net   19,003,000 23,711,000
Operating Lease, Right-of-Use Asset   27,320,000 31,560,000
Intangible assets, net   62,000 1,214,000
Goodwill   146,459,000 146,459,000
Other long-term assets   285,177,000 11,771,000
Total assets   1,259,879,000 771,399,000
Current liabilities:      
Accounts payable   171,545,000 111,399,000
Accrued expenses and other current liabilities   128,572,000 113,776,000
Short-term operating lease liabilities   9,819,000 9,369,000
Deferred revenue   42,505,000 28,149,000
Short-term Bank Loans and Notes Payable   122,391,000 0
Total current liabilities   474,832,000 262,693,000
Long-term taxes payable   7,319,000 18,099,000
Long-term debt   111,289,000 218,172,000
Long-term operating lease liabilities   43,025,000 51,986,000
Other long-term liabilities $ 7,500,000 7,500,000 4,431,000
Total liabilities   643,965,000 555,381,000
Commitments, contingencies and guarantees  
Stockholders’ equity:      
Preferred Stock, Value, Outstanding   0 0
Common Stocks, Including Additional Paid in Capital 78,200,000 1,008,872,000 980,147,000
Treasury Stock, Value   (113,613,000) (113,613,000)
Accumulated deficit 47,100,000 (279,345,000) (650,516,000)
Total stockholders’ equity   615,914,000 216,018,000
Total liabilities and stockholders’ equity   $ 1,259,879,000 $ 771,399,000
Preferred Stock, par value (usd per share)   $ 0.0001 $ 0.0001
Preferred Stock, Shares Authorized (shares)   5,000,000 5,000,000
Preferred Stock, par value (usd per share)   $ 0.0001 $ 0.0001
Preferred Stock, Shares Authorized (shares)   5,000,000 5,000,000
Common stock, par value (in dollars per share)   $ 0.0001 $ 0.0001
Treasury Stock, Value   $ 113,613,000 $ 113,613,000
Common Stocks, Including Additional Paid in Capital 78,200,000 1,008,872,000 980,147,000
Preferred Stock, Value, Outstanding   $ 0 $ 0
Treasury Stock, Shares (shares)   10,710,000 10,710,000
Restricted Cash   $ 0 $ 2,000,000
Cash and cash equivalents   401,087,000 325,654,000
Marketable securities   137,830,000 0
Accounts receivable, net   114,221,000 107,244,000
Inventory   86,409,000 97,914,000
Prepaid expenses and other current assets   42,311,000 23,872,000
Property and equipment, net   19,003,000 23,711,000
Operating Lease, Right-of-Use Asset   27,320,000 31,560,000
Intangible assets, net   62,000 1,214,000
Goodwill   146,459,000 146,459,000
Other long-term assets   285,177,000 11,771,000
Accounts payable   171,545,000 111,399,000
Accrued expenses and other current liabilities   128,572,000 113,776,000
Short-term operating lease liabilities   9,819,000 9,369,000
Deferred revenue   42,505,000 28,149,000
Short-term Bank Loans and Notes Payable   122,391,000 0
Long-term taxes payable   7,319,000 18,099,000
Long-term debt   111,289,000 218,172,000
Long-term operating lease liabilities   43,025,000 51,986,000
Other long-term liabilities 7,500,000 7,500,000 4,431,000
Accumulated deficit $ 47,100,000 $ (279,345,000) $ (650,516,000)
Common stock, par value (in dollars per share)   $ 0.0001 $ 0.0001
Treasury Stock, Shares (shares)   10,710,000 10,710,000
Common Class A [Member]      
Common stock outstanding (shares)   129,815,000 122,233,000
Common Stock, Shares Authorized (shares)   500,000,000 500,000,000
Common Stock, Shares, Issued   129,815,000 122,233,000
Common Stock, Shares Authorized (shares)   500,000,000 500,000,000
Common Stock, Shares, Issued   129,815,000 122,233,000
Common Class B [Member]      
Common stock outstanding (shares)   26,659,000 28,885,000
Common Stock, Shares Authorized (shares)   150,000,000 150,000,000
Common Stock, Shares, Issued   26,659,000 28,885,000
Common Stock, Shares Authorized (shares)   150,000,000 150,000,000
Common Stock, Shares, Issued   26,659,000 28,885,000
v3.22.0.1
Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares
Dec. 31, 2021
Dec. 31, 2020
Preferred Stock, par value (usd per share) $ 0.0001 $ 0.0001
Preferred Stock, Shares Authorized (shares) 5,000,000 5,000,000
Preferred Stock, Shares Issued (shares) 0 0
Common stock, par value (in dollars per share) $ 0.0001 $ 0.0001
Treasury Stock, Shares (shares) 10,710,000 10,710,000
Common Class A [Member]    
Common Stock, Shares Authorized (shares) 500,000,000 500,000,000
Common Stock, Shares, Issued 129,815,000 122,233,000
Common stock outstanding (shares) 129,815,000 122,233,000
Common Class B [Member]    
Common Stock, Shares Authorized (shares) 150,000,000 150,000,000
Common Stock, Shares, Issued 26,659,000 28,885,000
Common stock outstanding (shares) 26,659,000 28,885,000
v3.22.0.1
Condensed Consolidated Statements of Operations - USD ($)
shares in Thousands
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Income Statement [Abstract]      
Revenue $ 1,161,084,000 $ 891,925,000 $ 1,194,651,000
Cost of revenue 683,979,000 577,411,000 781,862,000
Gross profit 477,105,000 314,514,000 412,789,000
Operating expenses:      
Research and development 141,494,000 131,589,000 142,894,000
Sales and marketing 156,694,000 151,380,000 206,431,000
General and administrative 65,701,000 68,364,000 65,797,000
Total operating expenses 363,889,000 351,333,000 415,122,000
Operating income (loss) 113,216,000 (36,819,000) (2,333,000)
Interest expense (22,940,000) (20,257,000) (19,229,000)
Other income (expense), net (176,000) (4,881,000)  
Other income (expense), net     2,492,000
Total other expense, net (23,116,000) (25,138,000) (16,737,000)
Income (loss) before income taxes 90,100,000 (61,957,000) (19,070,000)
Income tax expense (benefit) (281,071,000) 4,826,000 (4,428,000)
Net income (loss) $ 371,171,000 $ (66,783,000) $ (14,642,000)
Earnings Per Share, Basic $ 2.41 $ (0.45) $ (0.10)
Earnings Per Share, Diluted $ 2.27 $ (0.45) $ (0.10)
Weighted Average Number of Shares Outstanding, Basic 154,274 149,037 144,891
Weighted Average Number of Shares Outstanding, Basic and Diluted     144,891
Weighted Average Number of Shares Outstanding, Diluted 163,178 149,037 144,891
v3.22.0.1
Condensed Consolidated Statements of Cash Flows - USD ($)
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Operating activities:      
Net income (loss) $ 371,171,000 $ (66,783,000) $ (14,642,000)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:      
Depreciation and amortization 10,962,000 19,065,000 26,268,000
Non-cash operating lease cost 4,240,000 6,565,000 6,990,000
Stock-based compensation 38,650,000 29,963,000 37,188,000
Deferred income taxes (273,541,000) (50,000) (32,000)
Non-cash restructuring charges (99,000) 5,242,000 (199,000)
Operating Lease, Impairment Loss 0 12,460,000 0
Amortization of Debt Discount (Premium) 14,208,000 10,366,000 8,987,000
Gain (Loss) on Extinguishment of Debt 0 5,389,000 0
Other 2,243,000 1,072,000 (1,182,000)
Changes in operating assets and liabilities:      
Accounts receivable, net (8,142,000) 93,084,000 (71,269,000)
Inventory 11,505,000 46,322,000 (27,778,000)
Prepaid expenses and other assets (17,513,000) 6,392,000 7,486,000
Accounts payable and other liabilities 56,262,000 (87,501,000) 3,210,000
Deferred revenue 19,207,000 12,196,000 529,000
Net Cash Provided by (Used in) Operating Activities 229,153,000 93,782,000 (24,444,000)
Investing activities:      
Purchases of property and equipment, net (5,545,000) (4,881,000) (8,348,000)
Purchases of marketable securities (146,515,000) 0 (43,636,000)
Maturities of marketable securities 8,341,000 14,830,000 56,888,000
Sale of marketable securities 0 0 17,867,000
Payments for (Proceeds from) Other Investing Activities 0 438,000 0
Net cash provided by (used in) investing activities (143,719,000) 9,511,000 22,771,000
Financing activities:      
Proceeds from issuance of common stock 7,490,000 5,435,000 5,574,000
Payment, Tax Withholding, Share-based Payment Arrangement (17,379,000) (6,207,000) (6,618,000)
Proceeds from Issuance of Debt 0 143,750,000 0
Payments of Debt Issuance Costs 0 (4,752,000) 0
Payment for Capped Call 0 10,249,000 0
Early Repayment of Senior Debt 0 (56,000,000) 0
Proceeds from Lines of Credit 0 30,000,000 20,000,000
Repayments of Lines of Credit 0 (30,000,000) (20,000,000)
Net cash provided by (used in) financing activities (9,889,000) 71,977,000 (1,044,000)
Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents (2,112,000) 2,083,000 923,000
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect 73,433,000 177,353,000 (1,794,000)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents 401,087,000 327,654,000 150,301,000
Interest Paid, Including Capitalized Interest, Operating and Investing Activities 6,127,000 6,717,000 6,179,000
Income Taxes Paid, Net 810,000 2,237,000 176,000
Capital Expenditures Incurred but Not yet Paid $ 587,000 $ 1,030,000 $ 316,000
v3.22.0.1
Condensed Consolidated Statements Stockholders' Equity (Deficit) - USD ($)
shares in Thousands, $ in Thousands
Total
Common Stock Including Additional Paid in Capital [Member]
Treasury Stock [Member]
Retained Earnings [Member]
Retained Earnings [Member]
Cumulative effect of adoption of new accounting standard [Member]
Beginning Balance at Dec. 31, 2018 $ 212,112 $ 894,755 $ (113,613) $ (569,030)  
Beginning Balance (shares) at Dec. 31, 2018   141,067      
Common stock issued under employee benefit plans, net of shares withheld for tax 5,553 $ 5,553      
Share-based Payment Arrangement, Decrease for Tax Withholding Obligation (6,618) $ 6,618      
Common stock issued under employee benefit plans, net of shares withheld for tax (shares)   5,751      
Allocated share-based compensation expense 37,185 $ 37,185      
Net income (loss) (14,642)     (14,642)  
Ending Balance at Dec. 31, 2019 233,529 $ 930,875 (113,613) (583,733) $ (61)
Ending Balance (shares) at Dec. 31, 2019   146,818      
Common stock issued under employee benefit plans, net of shares withheld for tax 5,481 $ 5,481      
Share-based Payment Arrangement, Decrease for Tax Withholding Obligation (6,207) $ 6,207      
Common stock issued under employee benefit plans, net of shares withheld for tax (shares)   4,301      
Allocated share-based compensation expense   $ 29,963      
Convertible debt, equity portion 35,674        
Net income (loss) (66,783)     (66,783)  
Ending Balance at Dec. 31, 2020 216,018 $ 980,147 (113,613) (650,516)  
Ending Balance (shares) at Dec. 31, 2020   151,119      
Adjustments to Additional Paid in Capital, Capped Call Option, Issuance Costs (10,249)        
Adjustments to Additional Paid in Capital, Equity Component of Convertible Debt, Repurchases (5,390)        
Common stock issued under employee benefit plans, net of shares withheld for tax 7,454 $ 7,454      
Share-based Payment Arrangement, Decrease for Tax Withholding Obligation (17,380) $ 17,380      
Common stock issued under employee benefit plans, net of shares withheld for tax (shares)   5,355      
Allocated share-based compensation expense   $ 38,651      
Net income (loss) 371,171     371,171  
Ending Balance at Dec. 31, 2021 $ 615,914 $ 1,008,872 $ (113,613) $ (279,345)  
Ending Balance (shares) at Dec. 31, 2021   156,474      
v3.22.0.1
Summary of business and significant accounting policies
 12 Months Ended
Dec. 31, 2021
Accounting Policies [Abstract]  
Summary of business and significant accounting policies Summary of business and significant accounting policies
GoPro, Inc. and its subsidiaries (GoPro or the Company) make it easy for the world to capture and share itself in immersive and exciting ways, helping people get the most out of their photos and videos. The Company is committed to developing solutions that create an easy, seamless experience for consumers to capture, create, manage and share engaging personal content. To date, the Company’s cameras, mountable and wearable accessories, and subscription services have generated substantially all of its revenue. The Company sells its products globally on its website, and through retailers and wholesale distributors. The Company’s global corporate headquarters are located in San Mateo, California.
Basis of presentation. The accompanying Consolidated Financial Statements have been prepared in accordance with United States generally accepted accounting principles (GAAP) for financial information set forth in the Accounting Standards Codification (“ASC”), as published by the Financial Accounting Standards Board (“FASB”), and with the applicable rules and regulations of the Securities and Exchange Commission (“SEC”). The Company’s fiscal year ends on December 31, and its fiscal quarters end on March 31, June 30 and September 30.
The Company’s operating results, financial position and cash flows for fiscal years 2021 and 2020 were negatively impacted by the COVID-19 pandemic. As the global impact of the pandemic began to emerge in the first quarter of 2020, the Company accelerated a shift in its sales channel strategy to focus more on direct-to-consumer sales through GoPro.com, and implemented a restructuring plan in April 2020, which primarily impacted the Company’s global workforce, sales and marketing expenses, and leased facilities. These actions were reflected in the Company’s financial results starting in the second quarter of 2020 by reducing on-going operating expenses and helped accelerate its ability to achieve profitability in the second half of 2020. In 2020, the Company also issued additional convertible senior notes and entered into a new credit facility.
The Consolidated Financial Statements reflect all adjustments, which are normal and recurring in nature, that management believes are necessary for the fair statement of the Company's financial statements, but are not necessarily indicative of the results expected for any other future period.
Principles of consolidation. These consolidated financial statements include all the accounts of the Company and its wholly owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation.
Use of estimates. The preparation of consolidated financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the amounts reported and disclosed in the Company’s consolidated financial statements and accompanying notes. Significant estimates and assumptions made by management include those related to revenue recognition and the allocation of the transaction price (including sales incentives, sales returns and implied post contract support), inventory valuation, product warranty liabilities, the valuation, impairment and useful lives of long-lived assets (property and equipment, operating lease right-of-use assets, intangible assets and goodwill), fair value of convertible senior notes, and income taxes. The Company bases its estimates and assumptions on historical experience and on various other factors that it believes to be reasonable under the circumstances, including but not limited to the potential impacts arising from the COVID-19 pandemic, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. The extent and continued impact of COVID-19 has been taken into account by management in making the significant assumptions and estimates related to the above; however, if the duration and spread of the outbreak, the impact on our customers, and the effect on our contract manufacturers, vendors and supply chains is different from the Company’s estimates and assumptions, then actual results could differ materially. Given the uncertainty with respect to COVID-19, the Company’s estimates and assumptions may evolve as conditions change. To the extent there are material differences between the estimates and the actual results, future results of operations could be affected.
Comprehensive income (loss). For all periods presented, comprehensive income (loss) approximated net income (loss). Therefore, the Consolidated Statements of Comprehensive Income (Loss) have been omitted.
v3.22.0.1
Fair value measurements
 12 Months Ended
Dec. 31, 2021
Fair Value Disclosures [Abstract]  
Fair Value measurements Fair value measurements
The Company’s assets that are measured at fair value on a recurring basis within the fair value hierarchy are summarized as follows:
December 31, 2021December 31, 2020
(in thousands)Level 1Level 2TotalLevel 1Level 2Total
Cash equivalents (1):
Money market funds$183,304 $— $183,304 $19,445 $— $19,445 
Total cash equivalents$183,304 $— $183,304 $19,445 $— $19,445 
Marketable securities:
Commercial paper$— $72,323 $72,323 $— $— $— 
Corporate debt securities— 41,108 41,108 — — — 
Government securities— 24,399 24,399 — — — 
Total marketable securities$— $137,830 $137,830 $— $— $— 
(1)    Included in cash and cash equivalents in the accompanying Consolidated Balance Sheets. Cash balances were $217.8 million as of December 31, 2021 and $308.2 million, including $2.0 million of restricted cash, as of December 31, 2020.
Cash equivalents are classified as Level 1 because the Company uses quoted market prices to determine their fair value. Marketable securities are classified as Level 2 because the Company uses alternative pricing sources and models utilizing market observable inputs to determine their fair value. The contractual maturities of available-for-sale marketable securities as of December 31, 2021 were all less than one year in duration. At December 31, 2021 and 2020, the Company had no financial assets or liabilities measured at fair value on a recurring basis that were classified as Level 3, which are valued based on inputs supported by little or no market activity.
At December 31, 2021 and 2020, the amortized cost of the Company’s cash equivalents and marketable securities approximated their fair value and there were no material realized or unrealized gains or losses, either individually or in the aggregate.
In April 2017, the Company issued $175.0 million principal amount of Convertible Senior Notes due 2022 (2022 Notes). In November 2020, the Company issued $143.8 million principal amount of Convertible Senior Notes due 2025 (2025 Notes) (see Note 4 Financing arrangements). The estimated fair value of the 2022 Notes and 2025 Notes is based on quoted market prices of the Company’s instruments in markets that are not active and are classified as Level 2 within the fair value hierarchy. The Company estimated the fair value of the 2022 Notes and 2025 Notes by evaluating quoted market prices and calculating the upfront cash payment a market participant would require to assume these obligations. The calculated fair value of the 2022 Notes was $132.4 million and $146.0 million as of December 31, 2021 and 2020, respectively, while the calculated fair value of the 2025 Notes was $189.0 million and $166.8 million as of December 31, 2021 and 2020, respectively. The calculated fair value is highly correlated to the Company’s stock price and as a result, significant changes to the Company’s stock price will have a significant impact on the calculated fair value of the 2022 Notes and 2025 Notes.
For certain other financial assets and liabilities, including accounts receivable, accounts payable and other current assets and liabilities, the carrying amounts approximate their fair value primarily due to the relatively short maturity of these balances.
The Company also measures certain non-financial assets at fair value on a nonrecurring basis, primarily goodwill, intangible assets and operating lease right-of-use assets, in connection with periodic evaluations for potential impairment.
v3.22.0.1
Condensed consolidated financial statement details
 12 Months Ended
Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Consolidated financial statement details Consolidated financial statement details
The following sections and tables provide details of selected balance sheet items.
Inventory
(in thousands)
December 31, 2021December 31, 2020
Components
$10,761 $13,229 
Finished goods
75,648 84,685 
Total inventory
$86,409 $97,914 
Property and equipment, net
(in thousands)
Useful life
(in years)		December 31, 2021December 31, 2020
Leasehold improvements (1)
1–9$33,764 $35,180 
Production, engineering and other equipment445,641 48,908 
Tooling1–213,537 17,635 
Computers and software220,771 22,385 
Furniture and office equipment35,614 6,315 
Tradeshow equipment and other2–51,970 5,860 
Construction in progress480 22 
Gross property and equipment
121,777 136,305 
Less: Accumulated depreciation and amortization(102,774)(112,594)
Property and equipment, net
$19,003 $23,711 
(1) Refer to Note 11 Restructuring charges, for details of operating lease right-of-use asset impairment charges recorded in 2020.

Depreciation expense was $9.8 million, $14.5 million and $18.5 million in 2021, 2020 and 2019, respectively. In 2020, the Company recorded accelerated depreciation charges in connection with its plans to vacate certain leased office facilities as disclosed in Note 11 Restructuring charges.
Intangible assets
Useful life
(in months)		December 31, 2021
(in thousands)Gross carrying valueAccumulated amortizationNet carrying value
Purchased technology 20-72$51,066 $(51,019)$47 
Domain name15 — 15 
Total intangible assets
$51,081 $(51,019)$62 

Useful life
(in months)		December 31, 2020
(in thousands)Gross carrying valueAccumulated amortizationNet carrying value
Purchased technology 20-72$51,066 $(49,867)$1,199 
Domain name15 —15 
Total intangible assets
$51,081$(49,867)$1,214
Amortization expense was $1.1 million, $4.6 million and $7.8 million in 2021, 2020 and 2019, respectively. At December 31, 2021, expected amortization expense of intangible assets with definite lives for future periods was as follows:
(in thousands)
Total
Year ending December 31,
2022$47 
$47 
Other long-term assets
(in thousands)
December 31, 2021December 31, 2020
Point of purchase (POP) displays
$2,509 $3,612 
Long-term deferred tax assets
274,430 966 
Deposits and other
8,238 7,193 
Other long-term assets$285,177 $11,771 
Amortization expense for POP displays was $2.8 million, $4.2 million and $7.5 million in 2021, 2020 and 2019, respectively.
Accrued expenses and other current liabilities
(in thousands)
December 31, 2021December 31, 2020
Accrued liabilities (1)
$34,989 $39,444 
Accrued sales incentives
34,117 30,609 
Employee related liabilities19,024 7,067 
Return liability
9,263 10,817 
Warranty liability
8,268 7,997 
Inventory received
7,169 1,709 
Customer deposits
2,760 2,347 
Purchase order commitments
1,369 1,921 
Income taxes payable
223 221 
Other
11,390 11,644 
Accrued expenses and other current liabilities$128,572 $113,776 
(1) See Note 11 Restructuring charges for amounts associated with restructuring liabilities.
Product warranty
Year ended December 31,
(in thousands)
202120202019
Beginning balance
$8,523 $11,398 $10,971 
Charged to cost of revenue
16,641 12,690 16,933 
Settlement of warranty claims
(16,322)(15,565)(16,506)
Warranty liability
$8,842 $8,523 $11,398 
At December 31, 2021 and 2020, $8.3 million and $8.0 million, respectively, of the warranty liability was recorded as a component of accrued expenses and other current liabilities, and $0.5 million was recorded as a component of other long-term liabilities for both periods.
v3.22.0.1
Financing Arrangements
 12 Months Ended
Dec. 31, 2021
Debt Disclosure [Abstract]  
Financing Arrangements Financing arrangements
2021 Credit Facility
In January 2021, the Company entered into a Credit Agreement (2021 Credit Agreement) which provides for a revolving credit facility (2021 Credit Facility) under which the Company may borrow up to an aggregate amount of $50.0 million. The 2021 Credit Facility will terminate and any outstanding borrowings become due and payable on the earlier of (i) January 2024 and (ii) unless the Company has cash in a specified deposit account in an amount equal to or greater than the amount required to repay the Company’s convertible notes due April 2022, 91 days prior to the maturity date of such convertible notes. Concurrently with the execution of the 2021 Credit Agreement in January 2021, the Company terminated its previous 2016 Credit Agreement, which would otherwise have matured in March 2021.
The amount that may be borrowed under the 2021 Credit Agreement may be based on a customary borrowing base calculation if the Company’s Asset Coverage Ratio is at any time less than 1.50. The Asset Coverage Ratio is defined as the ratio of (i) the sum of (a) the Company’s cash and cash equivalents in the United States plus specified percentages of other qualified debt investments (Qualified Cash) plus (b) specified percentages of the net book values of the Company’s accounts receivable and certain inventory to (ii) $50.0 million.
At the Company’s option, borrowed funds accrue interest at either (i) a floating rate per annum equal to the base rate plus a margin of from 0.50% to 1.00% depending on the Company’s Asset Coverage Ratio or (ii) a per annum rate equal to the rate at which dollar deposits are offered in the London interbank market plus a margin of from 1.50% to 2.00% depending on the Company’s Asset Coverage Ratio. The Company is required to pay a commitment fee on the unused portion of the 2021 Credit Facility of 0.375% to 0.50% per annum, based on the level of utilization of the 2021 Credit Facility. Amounts owed under the 2021 Credit Agreement are guaranteed by certain of the Company’s United States subsidiaries and secured by a first priority security interest in substantially all of the assets of the Company and certain of its subsidiaries (other than intellectual property, which is subject to a negative pledge restricting grants of security interests to third parties).
The 2021 Credit Agreement contains customary representations, warranties, and affirmative and negative covenants. The negative covenants include restrictions on the incurrence of liens and indebtedness, certain investments, dividends, stock repurchases and other matters, all subject to certain exceptions. In addition, the Company is required to maintain Liquidity (the sum of unused availability under the credit facility and the Company’s Qualified Cash) of at least $55.0 million (of which at least $40.0 million shall be attributable to Qualified Cash), or, if the borrowing base is then in effect, minimum unused availability under the credit facility of at least $10.0 million. The 2021 Credit Agreement also includes customary events of default that include, among other things, non-payment of principal, interest or fees, inaccuracy of representations and warranties, violation of certain covenants, cross default to certain other indebtedness, bankruptcy and insolvency events, material judgments and change of control. Upon an event of default, the lender may, subject to customary cure rights, require the immediate payment of all amounts outstanding.
At December 31, 2021, the Company was in compliance with all financial covenants contained in the 2021 Credit Agreement. The Company has made no borrowings from the 2021 Credit Facility to date, however, there is an outstanding letter of credit of $5.2 million for certain duty related requirements. This was not collateralized by any cash on hand.
2022 Convertible Notes
In April 2017, the Company issued $175.0 million aggregate principal amount of 3.50% Convertible Senior Notes due 2022 (2022 Notes). The 2022 Notes are senior, unsecured obligations of GoPro and mature on April 15, 2022, unless earlier repurchased or converted into shares of Class A common stock under certain circumstances. The 2022 Notes are convertible into cash, shares of the Company’s Class A common stock, or a combination thereof, at the Company’s election, at an initial conversion rate of 94.0071 shares of Class A common stock per $1,000 principal amount of the 2022 Notes, which is equivalent to an initial conversion price of approximately $10.64 per share of common stock, subject to adjustment. Based on current and projected liquidity, the Company has the intent and ability to deliver cash up to the principal amount of the 2022 Notes then outstanding upon conversion. The Company has historically paid interest on the 2022 Notes semi-annually in arrears on April 15 and October 15 of each year. There is one interest payment remaining, which will be due on April 15, 2022.
The $175.0 million of proceeds received from the issuance of the 2022 Notes were allocated between long-term debt (liability component) of $128.3 million and additional paid-in-capital (equity component) of $46.7 million on the Consolidated Balance Sheets. The fair value of the liability component was measured using rates determined for similar debt instruments without a conversion feature. The carrying amount of the equity component, representing the conversion option, was determined by deducting the fair value of the liability component from the aggregate face value of the 2022 Notes.
The liability component will be accreted up to the face value of the 2022 Notes of $175.0 million, which will result in additional non-cash interest expense being recognized in the Consolidated Statements of Operations. The accretion of the 2022 Notes to par and debt issuance cost recorded to long-term debt is amortized into interest expense over the term of the 2022 Note using an effective interest rate of approximately 10.5%. The equity component will not be remeasured as long as it continues to meet the conditions for equity classification.
The Company incurred approximately $5.7 million of issuance costs related to the issuance of the 2022 Notes, of which $4.2 million and $1.5 million were recorded to long-term debt and additional paid-in capital, respectively. The $4.2 million of issuance costs recorded as long-term debt on the Consolidated Balance Sheets are being amortized over the five-year contractual term of the 2022 Notes using the effective interest method.
The Company may not redeem the 2022 Notes prior to the maturity date and no sinking fund is provided for the 2022 Notes. The indenture includes customary terms and covenants, including certain events of default after which the 2022 Notes may be due and payable immediately.
Holders have the option to convert the 2022 Notes in multiples of $1,000 principal amount at any time prior to January 15, 2022, but only in the following circumstances:
•during any calendar quarter beginning after the calendar quarter ending on September 30, 2017, if the last reported sale price of Class A common stock for at least 20 trading days (whether or not consecutive) during the last 30 consecutive trading days of the immediately preceding fiscal quarter is greater than or equal to 130% of the conversion price of the 2022 Notes on each applicable trading day;
•during the five-business day period following any five consecutive trading day period in which the trading price for the 2022 Notes is less than 98% of the product of the last reported sale price of Class A common stock and the conversion rate for the 2022 Notes on each such trading day; or
•upon the occurrence of specified corporate events.
At any time on or after January 15, 2022 until the second scheduled trading day immediately preceding the maturity date of the 2022 Notes on April 15, 2022, a holder may convert its 2022 Notes, in multiples of $1,000 principal amount. Holders of the 2022 Notes who convert their 2022 Notes in connection with a make-whole fundamental change (as defined in the indenture) are, under certain circumstances, entitled to an increase in the conversion rate. In addition, in the event of a fundamental change prior to the maturity date, holders will, subject to certain conditions, have the right, at their option, to require the Company to repurchase for cash all or part of the 2022 Notes at a repurchase price equal to 100% of the principal amount of the 2022 Notes to be repurchased, plus accrued and unpaid interest up to, but excluding, the repurchase date. During the year ended December 31, 2021, the conditions allowing holders of the 2022 Notes to convert were not met.
Concurrently with the November 2020 issuance of the 2025 Notes, the Company used $56.2 million of the net cash proceeds from the 2025 Notes to repurchase $50.0 million principal amount of the 2022 Notes through an individual, privately negotiated transaction. The $56.2 million net cash proceeds were allocated between long-term debt (liability component) of $50.6 million and additional paid-in capital (equity component) of $5.4 million on the Consolidated Balance Sheets, and the remaining $0.2 million was related to the payment of interest. The fair value of the liability component was measured using rates determined for similar debt instrument without a conversion feature. The Company’s effective interest rate of 2.4% was based on the trading details of the 2022 Notes immediately prior to the repurchase date to determine the volatility of the 2022 Notes, and their remaining term. The cash consideration allocated to the equity component was calculated by deducting the fair value of the liability component and interest payment from the total aggregate cash consideration. The difference between the fair value of the 2022 Notes repurchased and the carrying value of $45.2 million resulted in a $5.4 million loss on extinguishment of debt.
As of December 31, 2021 and 2020, the outstanding principal on the 2022 Notes was $125.0 million, the unamortized debt discount was $2.4 million and $10.2 million, respectively, the unamortized debt issuance cost was $0.2 million and $0.8 million, respectively, and the net carrying amount of the liability component was $122.4 million and $114.0 million, respectively, which was recorded as short-term debt and long-term debt, respectively, within the Consolidated Balance Sheets. For the year ended December 31, 2021, 2020 and 2019, the Company recorded interest expense of $4.4 million, $5.9 million and $6.1 million. respectively, for contractual coupon interest, and $7.8 million, $9.6 million and $9.0 million, respectively, for amortization of the debt discount. For the year ended December 31, 2021, 2020 and 2019, the Company recorded $0.6 million, $0.8 million and $0.8 million for amortization of debt issuance costs, respectively.
In connection with the 2022 Notes offering, the Company entered into a prepaid forward stock repurchase transaction (Prepaid Forward) with a financial institution (Forward Counterparty). Pursuant to the Prepaid Forward, the Company used approximately $78.0 million of the net proceeds from the offering of the 2022 Notes to fund the Prepaid Forward. The aggregate number of shares of the Company’s Class A common stock underlying the Prepaid Forward was approximately 9.2 million. The expiration date for the Prepaid Forward is April 15, 2022, although it may be settled earlier in whole or in part. Upon settlement of the Prepaid Forward, at expiration or upon any early settlement, the Forward Counterparty will deliver to the Company the number of shares of Class A common stock underlying the Prepaid Forward or the portion thereof being settled early. The shares purchased under the Prepaid Forward are treated as treasury stock on the Consolidated Balance Sheets (and not outstanding for purposes of the calculation of basic and diluted income (loss) per share), but will remain outstanding for corporate law purposes, including for purposes of any future stockholders’ votes, until the Forward Counterparty delivers the shares underlying the Prepaid Forward to the Company. The Company’s Prepaid Forward hedge transaction exposes the Company to credit risk to the extent that its counterparty may be unable to meet the terms of the transaction. The Company mitigates this risk by limiting its counterparty to a major financial institution.
In the fourth quarter of 2020, 8.8 million shares out of the 9.2 million shares of Class A common stock underlying the Prepaid Forward entered into as part of the Company’s 2022 Notes were early settled and delivered to the Company. In April 2021, the remaining 0.4 million shares of Class A common stock underlying the Prepaid Forward were early settled and delivered to the Company. There was no financial statement impact due to the return of shares; however, shares outstanding for corporate law purposes were reduced by the early settlement.
The Company adopted ASU 2020-06 on January 1, 2022 under the modified retrospective method, which will have a significant impact on the aforementioned accounting of the 2022 Convertible Notes starting in fiscal year 2022. See Footnote 1 Summary of business and significant accounting policies for additional details.
2025 Convertible Notes
In November 2020, the Company issued $125.0 million aggregate principal amount of 1.25% Convertible Senior Notes due 2025 and granted an option to the initial purchasers to purchase up to an additional $18.8 million aggregate principal amount of the 2025 Notes to cover over-allotments, of which $18.8 million was subsequently exercised during November 2020, resulting in a total issuance of $143.8 million aggregate principal amount of the 2025 Notes. The 2025 Notes are senior, unsecured obligations of GoPro and mature on November 15, 2025, unless earlier repurchased or converted into shares of Class A common stock under certain circumstances. The 2025 Notes are convertible into cash, shares of the Company’s Class A common stock, or a combination thereof, at the Company’s election, at an initial conversion rate of 107.1984 shares of Class A common stock per $1,000 principal amount of the 2025 Notes, which is equivalent to an initial conversion price of approximately $9.3285 per share of common stock, subject to adjustment. Based on current and projected liquidity, the Company has the intent and ability to deliver cash up to the principal amount of the 2025 Notes then outstanding upon conversion. The Company pays interest on the 2025 Notes semi-annually in arrears on May 15 and November 15 of each year.
The $143.8 million of proceeds received from the issuance of the 2025 Notes were allocated between long-term debt (liability component) of $106.9 million and additional paid-in-capital (equity component) of $36.9 million on the Consolidated Balance Sheets. The fair value of the liability component was measured using rates determined for similar debt instruments without a conversion feature. The carrying amount of the equity component, representing the conversion option, was determined by deducting the fair value of the liability component from the
aggregate face value of the 2025 Notes.
The liability component will be accreted up to the face value of the 2025 Notes of $143.8 million, which will result in additional non-cash interest expense being recognized in the Consolidated Statements of Operations. The accretion of the 2025 Notes to par and debt issuance cost recorded to long-term debt is amortized into interest expense over the term of the 2025 Note using an effective interest rate of approximately 7.5%. The equity component will not be remeasured as long as it continues to meet the conditions for equity classification.
The Company incurred approximately $4.7 million of issuance costs related to the issuance of the 2025 Notes, of which $3.5 million and $1.2 million were recorded to long-term debt and additional paid-in capital, respectively. The $3.5 million of issuance costs recorded as long-term debt on the Consolidated Balance Sheets are being amortized over the five-year contractual term of the 2025 Notes using the effective interest method.
The Company may redeem all or any portion of the 2025 Notes on or after November 20, 2023 for cash if the last reported sale price of our common stock has been at least 130% of the conversion price then in effect for least 20 trading days (whether or not consecutive) during any 30 consecutive trading day period (including the last trading day of such period) ending on, and including, the trading day immediately preceding the date on which the Company provides the redemption notice, at a redemption price equal to 100% of the principal amount of the 2025 Notes to be redeemed, plus accrued interest and unpaid interest to, but excluding the redemption date. No sinking fund is provided for the 2025 Notes. The indenture includes customary terms and covenants, including certain events of default after which the 2025 Notes may be due and payable immediately.
Holders have the option to convert the 2025 Notes in multiples of $1,000 principal amount at any time prior to August 15, 2025, but only in the following circumstances:
•during any calendar quarter beginning after the calendar quarter ending on March 31, 2021, if the last reported sale price of Class A common stock for at least 20 trading days (whether or not consecutive) during the last 30 consecutive trading days of the immediately preceding fiscal quarter is greater than or equal to 130% of the conversion price of the 2025 Notes on each applicable trading day;
•during the five-business day period following any five consecutive trading day period in which the trading price for the 2025 Notes is less than 98% of the product of the last reported sale price of Class A common stock and the conversion rate for the 2025 Notes on each such trading day;
•if the Company calls any or all of the 2025 Notes for redemption, at any time prior to the close of business on the scheduled trading day immediately before the redemption date; or
•upon the occurrence of specified corporate events.
At any time on or after August 15, 2025 until the second scheduled trading day immediately preceding the maturity date of the 2025 Notes on November 15, 2025, a holder may convert its 2025 Notes, in multiples of $1,000 principal amount. Holders of the 2025 Notes who convert their 2025 Notes in connection with a make-whole fundamental change (as defined in the indenture) are, under certain circumstances, entitled to an increase in the conversion rate. In addition, in the event of a fundamental change prior to the maturity date, holders will, subject to certain conditions, have the right, at their option, to require the Company to repurchase for cash all or part of the 2025 Notes at a repurchase price equal to 100% of the principal amount of the 2025 Notes to be repurchased, plus accrued and unpaid interest up to, but excluding, the repurchase date. During the year ended December 31, 2021, the conditions allowing holders of the 2025 Notes to convert were not met.
As of December 31, 2021 and 2020, the outstanding principal on the 2025 Notes was $143.8 million, the unamortized debt discount was $29.7 million and $36.1 million, respectively, the unamortized debt issuance cost was $2.7 million and $3.4 million, respectively, and the net carrying amount of the liability component was $111.3 million and $104.2 million, respectively, which was recorded as long-term debt within the Consolidated Balance Sheets. For the year ended December 31, 2021 and 2020, the Company recorded interest expense of $1.8 million and $0.2 million for contractual coupon interest, $0.7 million and $0.1 million for amortization of debt issuance costs, and $6.4 million and $0.8 million for amortization of the debt discount.
In connection with the offering of the 2025 Notes, the Company paid $10.2 million to enter into privately negotiated capped call transactions with certain financial institutions (Capped Calls). The Capped Calls have an initial strike price of $9.3285 per share, which corresponds to the initial conversion price of the 2025 Notes. The Capped Calls cover, subject to anti-dilution adjustments substantially similar to those applicable to the conversion rate of the 2025 Notes, the number of Class A common stock initially underlying the 2025 Notes. The Capped Calls are generally expected to reduce potential dilution to the Company’s Class A common stock upon any conversion of the 2025 Notes and/or offset any cash payments the Company is required to make in excess of the principal amount of converted 2025 Notes, as the case may be, with such reduction and/or offset subject to a cap, initially equal to $12.0925, and is subject to certain adjustments under the terms of the Capped Call transactions. The Capped Calls will expire in November 2025, if not exercised earlier.
The Capped Calls are subject to adjustment upon the occurrence of specified extraordinary events affecting the Company, including merger events, tender offers and announcement events. In addition, the Capped Calls are subject to certain specified additional disruption events that may give rise to a termination of the Capped Calls, including nationalization, insolvency or delisting, changes in law, failures to deliver, insolvency filings and hedging disruptions. For accounting purposes, the Capped Calls are separate transactions, and not part of the terms of the 2025 Notes. As these transactions meet certain accounting criteria, the Capped Calls are recorded in stockholders’ equity as a reduction to additional paid-in capital and will not be remeasured as long as they continue to meet certain accounting criteria.
The Company adopted ASU 2020-06 on January 1, 2022 under the modified retrospective method, which will have a significant impact on the aforementioned accounting of the 2025 Convertible Notes starting in fiscal year 2022. See Footnote 1 Summary of business and significant accounting policies for additional details.
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Stockholders' equity
 12 Months Ended
Dec. 31, 2021
Equity [Abstract]  
Stockholders' Equity Note Disclosure [Text Block] Stockholders’ equity
Common stock. The Company has two classes of authorized common stock: Class A common stock with 500 million shares authorized and Class B common stock with 150 million shares authorized. As of December 31, 2021, 129.8 million shares of Class A stock were issued and outstanding and 26.7 million shares of Class B stock were issued and outstanding. The rights of the holders of Class A and Class B common stock are identical, except with respect to voting power and conversion rights. Each share of Class A common stock is entitled to one vote per share and each share of Class B common stock is entitled to ten votes per share. Each share of Class B common stock is convertible at any time at the option of the stockholder into one share of Class A common stock and has no expiration date. The Class B common stock is also convertible into Class A common stock on the same basis upon any transfer, whether or not for value, except for “permitted transfers” as defined in the Company’s restated certificate of incorporation. Each share of Class B common stock will convert automatically into one share of Class A common stock upon the date when the outstanding shares of Class B common stock represent less than 10% of the aggregate number of shares of common stock then outstanding. As of December 31, 2021, the Class B stock continued to represent greater than 10% of the overall outstanding shares.
The Company had the following shares of common stock reserved for issuance upon the exercise of equity instruments as of December 31, 2021:
(in thousands)
December 31, 2021
Stock options outstanding
3,080 
Restricted stock units outstanding
8,714 
Performance stock units outstanding
967 
Common stock available for future grants
36,577 
Total common stock shares reserved for issuance49,338 
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Employee benefit plans
 12 Months Ended
Dec. 31, 2021
Share-based Payment Arrangement [Abstract]  
Employee benefit plans Stock-based compensation. Stock-based awards granted to qualified employees, non-employee directors and consultants are measured at fair value and recognized as an expense. The Company primarily issues restricted stock units and accounts for forfeitures as they occur. For service-based awards, stock-based compensation is recognized on a straight-line basis over the requisite service period. For performance and market-based awards which also require a service period, the Company uses graded vesting over the longer of the derived service period or when the performance or market condition is satisfied.
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Net loss per share
 12 Months Ended
Dec. 31, 2021
Earnings Per Share [Abstract]  
Net loss per share Net income (loss) per share
The following table presents the calculations of basic and diluted net income (loss) per share:
Year ended December 31,
(in thousands, except per share data)
202120202019
Numerator:
Net income (loss)$371,171 $(66,783)$(14,642)
Denominator:
Weighted-average common shares - basic for Class A and Class B common stock154,274 149,037 144,891 
Effect of dilutive securities8,904 — — 
Weighted-average common shares - diluted for Class A and Class B common stock163,178 149,037 144,891 
Net income (loss) per share
Basic$2.41 $(0.45)$(0.10)
Diluted$2.27 $(0.45)$(0.10)
The following potentially dilutive shares were not included in the calculation of diluted shares outstanding as the effect would have been anti-dilutive:
Year ended December 31,
(in thousands)
202120202019
Stock-based awards1,792 15,856 13,527 
The Company has the intent and ability to deliver cash up to the principal amount of the 2022 Notes and 2025 Notes subject to conversion, based on the Company’s projected liquidity levels. The Company uses the treasury stock method for calculating any potential dilutive effect of the conversion spread on diluted net income per share, if applicable. The conversion spread is dilutive in periods of net income when the average market price of the Company’s Class A common stock for a given reporting period exceeds the initial conversion prices of $10.64 and $9.3285 per share for the 2022 Notes and 2025 Notes, respectively. For the fiscal year ended December 31, 2021, only the conversion spread relating to the 2025 Notes had a dilutive effect on net income per share. The initial conversion price of the 2022 Notes was greater than the average market price of the Company’s Class A Common Stock for the fiscal year ended December 31, 2021, and as such, had no impact on anti-dilutive or dilutive share calculations. Upon conversion of the 2025 Notes, there will be no economic dilution until the average market price of the Company’s Class A common stock exceeds the cap price of $12.0925 per share, as exercise of the Capped Calls offset any dilution from the 2025 Notes from the initial conversion price up to the cap price. The Capped Calls are excluded from diluted net income per share as they would be anti-dilutive under the treasury stock method.
The Company’s 2022 Notes mature on April 15, 2022 and the 2025 Notes mature on November 15, 2025, unless earlier repurchased or converted into shares of Class A common stock under certain circumstances as described further in Note 4 Financing arrangements. The 2022 Notes and 2025 Notes are convertible into cash, shares of the Company’s Class A common stock, or a combination thereof, at the Company’s election. While the Company has the intent and ability to deliver cash up to the principal amount, the maximum number of shares issuable upon conversion of the 2022 Notes is 20.6 million shares of Class A common stock and 20.8 million shares of Class A common stock upon conversion of the 2025 Notes. Additionally, the calculation of weighted-average shares outstanding for the fiscal year ended December 31, 2021, 2020, and 2019 excludes approximately 9.2 million shares effectively repurchased and held in treasury stock on the Consolidated Balance Sheets as a result of the Prepaid Forward transaction entered into in connection with the 2022 Note offering.
The rights of the holders of Class A common stock and Class B common stock are identical, except with respect to voting and conversion. Each share of Class A common stock is entitled to one vote per share and each share of Class B common stock is entitled to ten votes per share. Each share of Class B common stock is convertible at any time at the option of the stockholder into one share of Class A common stock and has no expiration date. Each share of Class B common stock will convert automatically into one share of Class A common stock upon the date when the outstanding shares of Class B common stock represent less than 10% of the aggregate number of shares of common stock then outstanding. Class A common stock is not convertible into Class B common stock. The computation of the diluted net loss per share of Class A common stock assumes the conversion of Class B common stock.
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Income taxes
 12 Months Ended
Dec. 31, 2021
Income Tax Disclosure [Abstract]  
Income taxes
8. Income taxes
Income (loss) before income taxes consisted of the following:
Year ended December 31,
(in thousands)
202120202019
United States
$83,419 $(70,572)$(28,233)
Foreign
6,681 8,615 9,163 
Income (loss) before income taxes$90,100 $(61,957)$(19,070)
Income tax expense (benefit) consisted of the following:
Year ended December 31,
(in thousands)
202120202019
Current
Federal
$(128)$(164)$(52)
State
267 84 48 
Foreign
(7,669)4,956 (4,391)
Total current
(7,530)4,876 (4,395)
Deferred
Federal
(205,856)— — 
State
(67,933)— — 
Foreign
248 (50)(33)
Total deferred
(273,541)(50)(33)
Income tax expense (benefit)$(281,071)$4,826 $(4,428)

Year ended December 31,
202120202019
(dollars in thousands)
$%$%
$
%
Reconciliation to statutory rate
Tax at federal statutory rate
$18,921 21.0 %$(13,011)21.0 %$(4,005)21.0 %
Change in valuation allowance
(284,551)(315.8)16,767 (27.1)4,717 (24.7)
Impact of foreign operations
(8,222)(9.2)5,010 (8.1)(3,949)20.7 
Stock-based compensation
(5,345)(5.9)696 (1.1)1,731 (9.1)
State income taxes, net of federal benefit
1,828 2.0 (682)1.1 1,872 (9.8)
Tax credits
(6,091)(6.8)(3,538)5.7 (5,123)26.8 
Permanent tax adjustments
1,517 1.7 123 (0.2)305 (1.6)
Other
872 1.0 (539)0.9 24 (0.1)
Income tax expense (benefit) at effective tax rate$(281,071)(312.0)%$4,826 (7.8)%$(4,428)23.2 %
The negative effective tax rate of 312.0% for 2021 primarily resulted from a tax expense on pre-tax book income, offset by the income tax benefit from the full release of valuation allowances on United States federal and state deferred tax assets and the release of a portion of the Company’s uncertain tax positions as a result of a lapse in the statute of limitations in certain jurisdictions, and income tax benefits from stock-based compensation and federal and California research and development credits. The negative effective tax rate of 7.8% for 2020 primarily resulted from a significant benefit on pre-tax book losses, offset by the valuation allowance on United States federal and state deferred tax assets and by income taxes paid or accrued in profitable foreign jurisdictions (primarily wholly owned subsidiaries in Europe).
Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Significant components of the Company’s deferred tax assets and deferred tax liabilities were as follows:
Year ended December 31,
(in thousands)
20212020
Deferred tax assets:
Net operating loss carryforwards
$158,125 $177,987 
Tax credit carryforwards
85,650 79,694 
Stock-based compensation
5,551 5,192 
Allowance for returns
2,504 2,492 
Intangible assets
4,803 5,453 
Depreciation and amortization
1,313 — 
Operating lease liabilities12,359 14,104 
Accruals and reserves
10,514 11,687 
Total deferred tax assets
280,819 296,609 
Valuation allowance
— (287,276)
Total deferred tax assets, net of valuation allowance$280,819 $9,333 
Deferred tax liabilities:
Depreciation and amortization
— (1,112)
Operating lease right-of-use assets(6,389)(7,255)
Total deferred tax liabilities
(6,389)(8,367)
Net deferred tax assets
$274,430 $966 
Each quarter the Company assesses the recoverability of its existing deferred tax assets under ASC Topic 740. The Company assesses available positive and negative evidence and uses judgment regarding past and future events, including operating results to estimate whether sufficient future taxable income will be generated to use its existing deferred tax assets. In the assessment for the period ended September 30, 2021, the Company concluded it was more likely than not that its deferred tax assets related to United States federal and state income taxes will be realizable. Therefore, in 2021 the United States federal and state valuation allowances were fully released and resulted in a $284.6 million non-cash net benefit to earnings for the year ended December 31, 2021. The determination to release the valuation allowances was based, in part, on the Company’s cumulative GAAP income from the past three years and projections of GAAP income in future years. The Company’s foreign deferred tax assets in each jurisdiction are supported by taxable income or in the case of acquired companies, by the future reversal of deferred tax liabilities. It is more likely than not that the Company’s foreign deferred tax assets will be realized and thus, a valuation allowance is not required on its foreign deferred tax assets. The Company will continue to assess the realizability of the deferred tax assets in each of the applicable jurisdictions going forward.
As of December 31, 2021, the Company’s federal, California and other state net operating loss carryforwards for income tax purposes were $615.7 million, $241.8 million and $221.4 million, net of reserves, respectively. Also, the Company’s federal and California state tax credit carryforwards were $49.1 million and $46.2 million, net of reserves, respectively. If not utilized, federal net operating losses that arose before 2018 and California loss carryforwards will begin to expire from 2030 to 2042, while federal credit and other state loss carryforwards will begin to expire primarily from 2022 to 2041. Federal net operating losses that arise after 2017 and all California tax credits will be carried forward indefinitely.
Under the provisions of §382 of the Internal Revenue Code, a change of control may impose an annual limitation on the amount of the Company’s net operating loss and tax credit carryforwards that can be used to reduce future tax liabilities. Of the Company’s total $615.7 million federal net operating loss carryforwards, approximately $8.1 million was from one of the Company’s acquisitions in 2016. These acquired tax attributes are subject to an annual limitation of $1.7 million per year for federal purposes and will begin to expire in the year 2034, if not utilized.
Uncertain income tax positions. The Company had gross unrecognized tax benefits of $21.3 million, $27.5 million and $27.2 million, as of December 31, 2021, 2020 and 2019, respectively. For fiscal year 2021, 2020 and
2019, total unrecognized income tax benefits were $7.3 million, $15.3 million and $12.5 million, respectively, and if recognized, would reduce income tax expense. A material portion of the Company’s gross unrecognized tax benefits, if recognized, would increase the Company’s net operating loss carryforward.
These unrecognized tax benefits relate primarily to unresolved matters with taxing authorities regarding the Company’s transfer pricing positions and tax positions based on the Company’s interpretation of certain United States trial and appellate court decisions, which remain subject to appeal and therefore could be overturned in future periods. While it is often difficult to predict the final outcome or the timing of resolution of any particular uncertain tax position, the Company believes that its reserves reflect the more likely outcome. The Company believes, due to statute of limitations expiration, that within the next 12 months it is possible that up to $0.5 million of uncertain tax positions could be released. It is also reasonably possible that additional uncertain tax positions will be added. It is not reasonably possible at this time to quantify the net effect.
A reconciliation of the beginning and ending amount of gross unrecognized income tax benefits are as follows:
Year ended December 31,
(in thousands)
202120202019
Balance at January 1$27,471 $27,178 $32,556 
Increase related to current year tax positions3,081 2,541 250 
Increase related to prior year tax positions3,900 1,681 — 
Decrease related to prior year tax positions(13,122)(3,929)(5,628)
Balance at December 31$21,330 $27,471 $27,178 
The Company’s policy is to account for interest and penalties related to income tax liabilities within the provision for income taxes. The balances of accrued interest and penalties recorded in the balance sheets and provision were not material for any period presented.
The Company files income tax returns in the United States and in non-United States jurisdictions. As of December 31, 2021, the Company continues to assert indefinite reinvestment to the extent of any foreign withholding taxes on the undistributed earnings related to these foreign branches. Any foreign withholding tax on these earnings is deemed not to be material.
v3.22.0.1
Commitments, contingencies and guarantees
 12 Months Ended
Dec. 31, 2021
Commitments and Contingencies Disclosure [Abstract]  
Commitments, contingencies and guarantees Commitments, contingencies and guarantees Facility Leases. The Company leases its facilities under long-term operating leases, which expire at various dates through 2027.
The components of net lease cost, which were recorded in operating expenses, were as follows:
Year ended December 31,
(in thousands)
2021 (1)
2020 (1)
2019 (1)
Operating lease cost (1)
$11,566 $14,815 $17,811 
Sublease income(964)(526)(656)
Right-of-use asset impairment cost— 12,460 — 
Net lease cost$10,602 $26,749 $17,155 
(1)    Operating lease cost includes variable lease costs, which are immaterial.
Supplemental cash flow information related to leases was as follows:
Year ended December 31,
(in thousands)20212020
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases$14,902 $14,310 
Right-of-use assets obtained in exchange for operating lease liabilities2,475 1,343 
Operating lease modifications to decrease right-of-use assets— (2,251)

Supplemental balance sheet information related to leases was as follows:
December 31, 2021December 31, 2020
Weighted-average remaining lease term (in years) - operating leases4.645.53
Weighted-average discount rate - operating leases6.0%6.2%

As of December 31, 2021, maturities of operating lease liabilities were as follows:
(in thousands)
December 31, 2021
202212,727 
202312,758 
202411,748 
202511,477 
202611,710 
Thereafter974 
Total lease payments61,394 
Less: Imputed interest(8,603)
Present value of lease liabilities$52,791 
Other Commitments. In the ordinary course of business, the Company enters into multi-year agreements to purchase sponsorships with event organizers, resorts and athletes as part of its marketing efforts; software licenses related to its financial and IT systems; debt agreements; and various other contractual commitments. As of December 31, 2021, future commitments were as follows:
v3.22.0.1
Concentrations of risk and geographic information
 12 Months Ended
Dec. 31, 2021
Risks and Uncertainties [Abstract]  
Concentrations of risk and segment information Concentrations of risk and geographic information Concentration of risk. Financial instruments which potentially subject the Company to concentration of credit risk includes cash and cash equivalents, marketable securities, accounts receivable, and derivative instruments, including the Capped Calls associated with the 2025 Notes. The Company places cash and cash equivalents with high-credit-quality financial institutions; however, the Company maintains cash balances in excess of the FDIC insurance limits. The Company believes that credit risk for accounts receivable is mitigated by the Company’s credit evaluation process, relatively short collection terms and dispersion of its customer base. The Company generally does not require collateral and losses on trade receivables have historically been within management’s expectations. The Company believes its counterparty credit risk related to its derivative instruments is mitigated by transacting with major financial institutions with high credit ratings.
Customers who represented 10% or more of the Company’s net accounts receivable balance were as follows:
December 31, 2021December 31, 2020
Customer A18%23%
Customer B30%15%
Customer C*12%
* Less than 10% of net accounts receivable for the period indicated.
The following table summarizes the Company’s accounts receivables sold, without recourse, and factoring fees paid:
Year ended December 31,
(in thousands)
202120202019
Accounts receivable sold$108,636 $99,410 $120,728 
Factoring fees426 678 1,509 
Third-party customers who represented 10% or more of the Company’s total revenue were as follows:
Year ended December 31,
202120202019
Customer A11%10%11%
Supplier concentration. The Company relies on third parties for the supply and manufacture of its products, some of which are sole-source suppliers. The Company believes that outsourcing manufacturing enables greater scale and flexibility. As demand and product lines change, the Company periodically evaluates the need and advisability of adding manufacturers to support its operations. In instances where a supply and manufacture agreement does not exist or suppliers fail to perform their obligations, the Company may be unable to find alternative suppliers or satisfactorily deliver its products to its customers on time, if at all. The Company also relies on third parties with whom it outsources supply chain activities related to inventory warehousing, order fulfillment, distribution and other direct sales logistics. In instances where an outsourcing agreement does not exist or these third parties fail to perform their obligations, the Company may be unable to find alternative partners or satisfactorily deliver its products to its customers on time.
Geographic information
Revenue by geographic region was as follows:
Year ended December 31,2021 vs 20202020 vs 2019
(in thousands)
202120202019
% Change
% Change
Americas
$607,534 $483,331 $523,975 26 %(8)%
Europe, Middle East and Africa (EMEA)
305,654 218,670 359,187 40 (39)
Asia and Pacific (APAC)
247,896 189,924 311,489 31 (39)
Total revenue
$1,161,084 $891,925 $1,194,651 30 %(25)%
Revenue from the United States, which is included in the Americas geographic region, was $526.5 million, $428.3 million and $429.9 million for 2021, 2020 and 2019, respectively. No other individual country exceeded 10% of total revenue for any period presented. The Company does not disclose revenue by product category as it does not track sales incentives and other revenue adjustments by product category to report such data.
As of December 31, 2021 and 2020, long-lived assets, which represent net property and equipment, located outside the United States, primarily in Hong Kong and mainland China, were $5.7 million and $6.9 million, respectively.
v3.22.0.1
Restructuring charges
 12 Months Ended
Dec. 31, 2021
Restructuring and Related Activities [Abstract]  
Restructuring charges Restructuring charges
Restructuring charges for each period were as follows:
Year ended December 31,
(in thousands)
202120202019
Cost of revenue
$70 $1,201 $54 
Research and development
600 8,062 585 
Sales and marketing
361 10,684 314 
General and administrative
195 5,449 501 
Total restructuring charges
$1,226 $25,396 $1,454 
Second quarter 2020 restructuring
On April 14, 2020, the Company approved a restructuring to reduce future operating expenses, optimize its business model and address the impact of the COVID-19 pandemic. The restructuring provided for a reduction of the Company’s global workforce by approximately 20% and the consolidation of certain leased office facilities. Under the second quarter 2020 restructuring, the Company recorded restructuring charges of $29.0 million to date, including a $12.5 million right-of-use asset impairment primarily related to its headquarters campus, $7.4 million related to severance, and $9.1 million related to accelerated depreciation and other charges.
The Company ceased using a portion of its headquarters campus in the third quarter of 2020 as part of the second quarter 2020 restructuring. The unused portion of the Company’s headquarters campus has its own identifiable expenses and is not dependent on other parts of the Company, and thus was considered its own asset group. As a result, the Company impaired a part of the carrying value of the related right-of-use asset to its estimated fair value using the discounted future cash flows method. The discounted future cash flows were determined based on future sublease rental rates, future sublease market conditions and a discount rate based on the weighted-average cost of capital. Based on the results of the Company’s assessment, the Company recognized a $12.3 million impairment, which was reflected as a restructuring expense, primarily in the operating expense financial statement line items in the Consolidated Statements of Operations.
The following table provides a summary of the Company’s restructuring activities and the movement in the related liabilities recorded in accrued expenses and other current liabilities on the Consolidated Balance Sheets under the second quarter 2020 restructuring.
(in thousands)
Severance
Other
ROU Asset Impairment
Total
Restructuring liability as of December 31, 2019$— $— $— $— 
Restructuring charges
7,287 5,800 12,460 25,547 
Cash paid
(7,238)(1,592)— (8,830)
Non-cash reductions
— (4,169)(12,460)(16,629)
Restructuring liability as of December 31, 2020$49 $39 $— $88 
Restructuring charges
146 3,347 — 3,493 
Cash paid
(195)(3,451)— (3,646)
Non-cash reductions
— 99 — 99 
Restructuring liability as of December 31, 2021$— $34 $— $34 
First quarter 2017 restructuring
On March 15, 2017, the Company approved a restructuring to reduce future operating expenses and further align resources around its long-term business strategy. The restructuring provided for a reduction of the Company’s global workforce by approximately 17% and the consolidation of certain leased office facilities. Under the first quarter 2017 restructuring, the Company recorded restructuring charges of $23.5 million to date, including $10.3 million related to severance, and $13.2 million related to accelerated depreciation and other charges. The actions associated with the first quarter 2017 restructuring were substantially completed by the fourth quarter of 2017.
The following table provides a summary of the Company’s restructuring activities and the movement in the related liabilities recorded in accrued expenses and other current liabilities, and other long-term liabilities on the Consolidated Balance Sheets under the first quarter 2017 restructuring.
(in thousands)
Severance
Other
Total
Restructuring liability as of December 31, 2019$— $4,470 $4,470 
Restructuring charges (1)
— (57)(57)
Cash paid
— (3,559)(3,559)
Restructuring liability as of December 31, 2020$— $854 $854 
Restructuring charges (1)
— 384 384 
Cash paid
— (1,238)(1,238)
Restructuring liability as of December 31, 2021$— $— $— 
(1)     Includes lease termination charges, which is included in accrued expenses and other current liabilities in the accompanying Consolidated Balance Sheets, and totaled $0 million as of December 31, 2021.
v3.22.0.1
Subsequent Events
 1 Months Ended 12 Months Ended
Nov. 04, 2021
Dec. 31, 2021
Subsequent Event [Line Items]    
Subsequent Events [Text Block]
12. Subsequent events
On January 27, 2022, the Company’s board of directors authorized the repurchase of up to $100 million of its Class A common stock. Stock repurchases under the program may be made periodically through open market purchases, block trades or otherwise in compliance with all federal and state securities laws and state corporate law and in accordance with the single broker, timing, price, and volume guidelines set forth in Rule 10b-18 under the Securities Exchange Act of 1934, as amended, as such guidelines may be modified by the SEC from time to time. This stock repurchase program has no time limit and may be modified, suspended, or discontinued at any time.
 On January 27, 2022, the Company’s board of directors authorized the repurchase of up to $100 million of its Class A common stock. Stock repurchases under the program may be made periodically through open market purchases, block trades or otherwise in compliance with all federal and state securities laws and state corporate law and in accordance with the single broker, timing, price, and volume guidelines set forth in Rule 10b-18 under the Securities Exchange Act of 1934, as amended, as such guidelines may be modified by the SEC from time to time. This stock repurchase program has no time limit and may be modified, suspended, or discontinued at any time.
v3.22.0.1
Valuation and Qualifying Accounts
 12 Months Ended
Dec. 31, 2021
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]  
SEC Schedule, 12-09, Schedule of Valuation and Qualifying Accounts Disclosure [Text Block] VALUATION AND QUALIFYING ACCOUNTS
For the year ended December 31, 2021, 2020 and 2019
(in thousands)Balance at Beginning of YearCharges to RevenueCharges (Benefits) to ExpenseCharges to Other Accounts - EquityDeductions/Write-offsBalance at End of Year
Allowance for doubtful accounts receivable:
Year ended December 31, 2021$492 $— $393 $— $(185)$700 
Year ended December 31, 2020830 — (24)— (314)492 
Year ended December 31, 2019500 — 616 — (286)830 
Valuation allowance for deferred tax assets:
Year ended December 31, 2021$287,276 $— $(284,551)$— $(2,725)$— 
Year ended December 31, 2020277,693 — 16,762 (7,179)— 287,276 
Year ended December 31, 2019271,374 — 4,717 1,602 — 277,693 
v3.22.0.1
Summary of business and significant accounting policies (Policies)
 12 Months Ended
Dec. 31, 2021
Accounting Policies [Abstract]  
Basis of presentation
Basis of presentation. The accompanying Consolidated Financial Statements have been prepared in accordance with United States generally accepted accounting principles (GAAP) for financial information set forth in the Accounting Standards Codification (“ASC”), as published by the Financial Accounting Standards Board (“FASB”), and with the applicable rules and regulations of the Securities and Exchange Commission (“SEC”). The Company’s fiscal year ends on December 31, and its fiscal quarters end on March 31, June 30 and September 30.
The Company’s operating results, financial position and cash flows for fiscal years 2021 and 2020 were negatively impacted by the COVID-19 pandemic. As the global impact of the pandemic began to emerge in the first quarter of 2020, the Company accelerated a shift in its sales channel strategy to focus more on direct-to-consumer sales through GoPro.com, and implemented a restructuring plan in April 2020, which primarily impacted the Company’s global workforce, sales and marketing expenses, and leased facilities. These actions were reflected in the Company’s financial results starting in the second quarter of 2020 by reducing on-going operating expenses and helped accelerate its ability to achieve profitability in the second half of 2020. In 2020, the Company also issued additional convertible senior notes and entered into a new credit facility.
The Consolidated Financial Statements reflect all adjustments, which are normal and recurring in nature, that management believes are necessary for the fair statement of the Company's financial statements, but are not necessarily indicative of the results expected for any other future period.
Principles of consolidation Principles of consolidation. These consolidated financial statements include all the accounts of the Company and its wholly owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation.
Use of estimates Use of estimates. The preparation of consolidated financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the amounts reported and disclosed in the Company’s consolidated financial statements and accompanying notes. Significant estimates and assumptions made by management include those related to revenue recognition and the allocation of the transaction price (including sales incentives, sales returns and implied post contract support), inventory valuation, product warranty liabilities, the valuation, impairment and useful lives of long-lived assets (property and equipment, operating lease right-of-use assets, intangible assets and goodwill), fair value of convertible senior notes, and income taxes. The Company bases its estimates and assumptions on historical experience and on various other factors that it believes to be reasonable under the circumstances, including but not limited to the potential impacts arising from the COVID-19 pandemic, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. The extent and continued impact of COVID-19 has been taken into account by management in making the significant assumptions and estimates related to the above; however, if the duration and spread of the outbreak, the impact on our customers, and the effect on our contract manufacturers, vendors and supply chains is different from the Company’s estimates and assumptions, then actual results could differ materially. Given the uncertainty with respect to COVID-19, the Company’s estimates and assumptions may evolve as conditions change. To the extent there are material differences between the estimates and the actual results, future results of operations could be affected.
Comprehensive income (loss) Comprehensive income (loss). For all periods presented, comprehensive income (loss) approximated net income (loss). Therefore, the Consolidated Statements of Comprehensive Income (Loss) have been omitted
Cash, Cash Equivalents, and Marketable Securities Cash equivalents and marketable securities. Cash equivalents consist of investments in money market funds with maturities of three months or less from the date of purchase. Marketable securities consist of commercial paper, government securities and corporate debt securities, and are classified as available-for-sale securities. The Company views these securities as available to support current operations and has classified all available-for-sale securities as current assets. Available-for-sale securities are carried at fair value with unrealized gains and losses, if any, included in stockholders’ equity. Unrealized gains and losses are charged against other income (expense), net, for declines in fair value below the cost of an individual investment that is deemed to be other than temporary. The Company has not identified any marketable securities as other-than-temporarily impaired for the periods presented. The cost of securities sold is based upon a specific identification method.
Cash and Cash Equivalents, Restricted Cash and Cash Equivalents, Policy Restricted cash. As of December 31, 2021 and 2020, the Company had an outstanding letter of credit collateralized by a money market account of zero and $2.0 million, respectively, for certain duty related requirements.
Receivables, Trade and Other Accounts Receivable, Allowance for Doubtful Accounts, Policy Accounts receivable. Accounts receivable are stated at invoice value less estimated allowances for doubtful accounts. Allowances are recorded based on the Company’s assessment of various factors, such as: historical experience, credit quality of its customers, age of the accounts receivable balances, geographic related risks, economic conditions and other factors that may affect a customer’s ability to pay. The allowance for doubtful accounts as of December 31, 2021 and 2020 was $0.7 million and $0.5 million, respectively.
Inventory, Policy Inventory. Inventory consists of finished goods and component parts, which are purchased directly from contract manufacturers or from suppliers. Inventory is stated at the lower of cost or net realizable value on a first-in, first-out basis. The Company writes down its inventory for estimated obsolescence or excess inventory equal to the difference between the cost of inventory and estimated market value plus the estimated cost to sell. The Company’s assessment of market value is based upon assumptions around market conditions and estimated future demand for its products within a specified time horizon, generally 12 months, product life cycle status, product development plans and current sales levels. Adjustments to reduce inventory to net realizable value are recognized in cost of revenue.
Advertising Costs, Policy, Capitalized Direct Response Advertising Point of purchase (POP) displays. The Company provides retailers with POP displays, generally free of charge, in order to facilitate the marketing of the Company’s products within retail stores. The POP displays contain a display that broadcasts video images taken by GoPro cameras along with product placement available for cameras and accessories. POP display costs are capitalized as long-term assets and charged to sales and marketing expense over the expected period of benefit, which generally ranges from 24 to 36 months. Cash outflows and amortization related to POP displays are classified as operating activities in the consolidated statement of cash flows.
Property, Plant and Equipment, Policy Property and equipment, net. Property and equipment are stated at cost and are depreciated using the straight-line method over the estimated useful life of the assets, ranging from one to nine years. Leasehold improvements are amortized over the shorter of the lease term or their expected useful life. Property and equipment pending installation, configuration or qualification are classified as construction in progress. Costs of maintenance and repairs that do not improve or extend the lives of the respective assets are expensed as incurred.
Fair Value Measurement, Policy
Fair value measurements. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the reporting date. The Company estimates and categorizes the fair value of its financial assets by applying the following hierarchy:
Level 1
Valuations based on quoted prices in active markets for identical assets or liabilities that the Company has the ability to directly access.
Level 2
Valuations based on quoted prices for similar assets or liabilities; valuations for interest-bearing securities based on non-daily quoted prices in active markets; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable data for substantially the full term of the assets or liabilities.
Level 3
Valuations based on inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.
A financial instrument’s level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement.
Leases
Leases. The Company leases its office space and facilities under cancelable and non-cancelable operating leases. Operating leases are presented as operating lease right-of-use (ROU) assets, short-term operating lease liabilities and long-term operating lease liabilities on the Company’s Consolidated Balance Sheets. ROU assets represent the Company’s right to control the use of an underlying asset for the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from the lease.
Operating lease ROU assets and liabilities are recognized at the lease commencement date based on the present value of future lease payments. The Company determines its incremental borrowing rate based on the approximate rate at which the Company would borrow, on a secured basis, to calculate the present value of future lease payments. Lease expenses are recognized on a straight-line basis over the lease term. Certain leases include an option to renew with terms that can extend the lease term from one to five years. The exercise of a lease renewal option is at the Company’s sole discretion and is included in the lease term when the Company is reasonably certain it will exercise the option.
Prior to January 1, 2019, the Company recognized leases under Accounting Standards Codification (ASC) 840, Leases, which had the following differences from the current lease standard, ASC 842, Leases:
•Operating leases were previously not recorded on the Company’s Consolidated Balance Sheets.
•The Company calculated a liability for future costs to be incurred under a lease for its remaining term without economic benefit to the Company upon determination of a cease-use date. The fair value of the liability was determined based on remaining lease payments, estimated sublease income and the effects of any prepaid or deferred items recognized under the lease.
Goodwill and Intangible Assets, Policy Goodwill and acquired intangible assets. Goodwill represents the excess of the purchase price over the fair value of the net assets acquired in a business combination. Acquired intangible assets other than goodwill are amortized over their useful lives unless the lives are determined to be indefinite. For intangible assets acquired in a business combination, the determination of the estimated fair values of the assets received involves significant judgments and estimates. These judgments can include, but are not limited to, the cash flows that an asset is expected to generate in the future, technology obsolescence, and the appropriated weighted-average cost of capital. Valuation approaches consistent with the market approach, income approach and/or cost approach are used to measure fair value.
Impairment or Disposal of Long-Lived Assets, Including Intangible Assets, Policy
Impairment of goodwill and long-lived assets. The Company performs an annual assessment of its goodwill during the fourth quarter of each calendar year or more frequently if indicators of potential impairment exist, such as an adverse change in business climate or a decline in the overall industry demand, that would indicate it is more likely than not that the fair value of its single reporting unit is less than its carrying value. There was no impairment of goodwill recorded for any periods presented. For the Company’s annual impairment testing in 2021, the Company did not identify any indicators of potential impairment of its single reporting unit. Other indefinite-lived intangible assets are assessed for impairment at least annually. If their carrying value exceeds the estimated fair value, the difference is recorded as an impairment.
Long-lived assets, such as property and equipment, intangible assets subject to amortization and right-of-use assets, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset group may not be recoverable. Recoverability of assets to be held and used is measured by comparing the carrying amount to the estimated future undiscounted cash flows expected to be generated by the asset group. If it is determined that an asset group is not recoverable, an impairment charge is recognized for the amount by which the carrying amount of the asset group exceeds its fair value. The Company recorded a $12.5 million right-of-use asset impairment in 2020 primarily related to its headquarter campus as described further in Note 11 Restructuring charges. The Company used the following significant assumptions to determine the impairment charge: future sublease rental rates, future sublease market conditions and a discount rate based on the weighted-average cost of capital. The Company did not record any impairment charges in 2021 or 2019.
Standard Product Warranty, Policy Warranty. The Company records a liability for estimated product warranty costs at the time product revenue is recognized. The Company’s standard warranty obligation to its end-users generally provides a 12-month warranty coverage on all of its products except in the European Union where the Company provides a 24-month warranty. The Company also offers extended warranty programs for a fee. The Company’s estimate of costs to service its warranty obligations is based on its historical experience of repair and replacement of the associated products and expectations of future conditions. The warranty obligation is affected by product failure rates and the related use of materials, labor costs and freight incurred in correcting any product failure.
Debt, Policy
Convertible Senior Notes. In April 2017, the Company issued $175.0 million aggregate principal amount of 3.50% Convertible Senior Notes due April 15, 2022 (2022 Notes). In November 2020, the Company issued $143.8 million aggregate principal amount of 1.25% Convertible Senior Notes due November 15, 2025 (2025 Notes). Concurrently with the issuance of the 2025 Notes, the Company used a portion of the net proceeds to repurchase part of the 2022 Notes. See Note 4 Financing Arrangements for additional details.
The Company accounts for its 2022 Notes and 2025 Notes in accordance with ASC 470-20, Debt with Conversion and Other Options. As the Company’s 2022 Notes and 2025 Notes have a net settlement feature and may be settled wholly or partially in cash upon conversion, the Company is required to separately account for the liability (debt) and equity (conversion option) components of the instrument. The carrying amount of the liability component of the instrument is determined by estimating the fair value of a similar liability without the conversion option using income and market based approaches. The amount of the equity component is then calculated by deducting the fair value of the liability component from the principal amount of the instrument. The difference between the principal amount and the liability component represents a debt discount that is amortized to interest expense over the remaining term of the convertible senior notes using an effective interest rate method. The equity component is not remeasured as long as it continues to meet the conditions for equity classification. In accounting for the issuance costs related to the 2022 Notes and 2025 Notes, the allocation of issuance costs incurred between the liability and equity components were based on their relative values.
The total consideration for the 2022 Notes partial repurchase was separated into liability and equity components by estimating the fair value of a similar liability without a conversion option and assigning the residual value to the equity component. The effective interest rate used to estimate the fair value of the liability component of the 2022 Notes partial repurchase is based on the income approach used to determine the effective interest rate of the 2025 Notes, adjusted for the remaining term of the 2022 Notes. The gain or loss on extinguishment of the debt was subsequently determined by comparing repurchase consideration allocated to the liability component to the sum of the carrying value of the liability component, net of the proportionate amounts of unamortized debt discount and remaining unamortized debt issuance costs.
In August 2020, the FASB issued ASU 2020-06, Debt - Debt with Conversion and Other Options (Subtopic 470- 20) and Derivatives and Hedging - Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity (“ASU 2020-06”), which simplifies the accounting for certain financial instruments with characteristics of liabilities and equity. This accounting standard update, which we adopted effective January 1, 2022, will have a significant impact on the ongoing accounting of the 2022 and 2025 Notes. Refer to section “Recent Accounting Pronouncements” for additional details on the adoption of this accounting standard update.
Revenue recognition
Revenue recognition. The Company derives substantially all of its revenue from the sale of cameras, mounts, accessories, subscription and services, and implied post contract support to customers. The transaction price recognized as revenue represents the consideration the Company expects to be entitled to and is primarily comprised of product revenue, net of returns and variable consideration, which includes sales incentives provided to customers.
The Company’s camera sales contain multiple performance obligations that can include the following four separate obligations: a) a camera hardware component (which may be bundled with hardware accessories) and the embedded firmware essential to the functionality of the camera component delivered at the time of sale, b) the implicit right to the Company’s downloadable free apps and software solutions, c) the implied right for the customer to receive post contract support after the initial sale (PCS), and d) a subscription service. The Company’s PCS includes the right to receive, on a when and if available basis, future unspecified firmware upgrades and features as well as bug fixes, and email, chat and telephone support.
The Company recognizes revenue from its sales arrangements when control of the promised goods or services are transferred to its customers, in an amount that reflects the amount of consideration expected to be received in
exchange for the transferred goods or services. For the sale of hardware products, including related firmware and free software solutions, revenue is recognized when transfer of control occurs at a point in time, which generally is at the time the hardware product is delivered and collection is considered probable. For customers who purchase products directly from GoPro.com, the Company retains a portion of the risk of loss on these sales during transit, which are accounted for as fulfillment costs. For PCS, revenue is recognized ratably over 24 months, which represents the estimated service period based on historical experience. For subscriptions, revenue is recognized ratably over the subscription term, with any payments received in advance of services rendered are recorded as deferred revenue.
For the Company’s camera sale arrangements with multiple performance obligations, revenue is allocated to each performance obligation based on its relative standalone selling price. Standalone selling prices are based on observable prices at which the Company separately sells its products, subscriptions, and services. If a standalone selling price is not directly observable, then the Company estimates the standalone selling prices considering market conditions and entity-specific factors. For example, the standalone selling price for PCS is determined based on a cost-plus approach, which incorporates the level of support provided to customers, estimated costs to provide support, and the amount of time and cost that is allocated to efforts to develop the undelivered elements.
The Company's standard terms and conditions of sale for non-web-based sales do not allow for product returns other than under warranty. However, the Company grants limited rights of return, primarily to certain large retailers. The Company reduces revenue and cost of sales for the estimated returns based on analyses of historical return trends by customer class and other factors. An estimated return liability along with a right to recover assets are recorded for future product returns. Return trends are influenced by product life cycles, new product introductions, market acceptance of products, product sell-through, the type of customer, seasonality and other factors. Return rates may fluctuate over time, but are sufficiently predictable to allow the Company to estimate expected future product returns.
The Company provides sales commissions to internal and external sales representatives which are earned in the period in which revenue is recognized. As a result, the Company expenses such costs as incurred.
Deferred revenue as of December 31, 2021 and 2020 includes amounts related to the Company’s subscriptions and services. The Company’s short-term and long-term deferred revenue balances totaled $48.5 million and $29.3 million as of December 31, 2021 and 2020, respectively. During the year ended December 31, 2021, the Company recognized $27.6 million of revenue that was included in the deferred revenue balance as of December 31, 2020. During the year ended December 31, 2020, the Company recognized $15.4 million of revenue that was included in the deferred revenue balance as of December 31, 2019.
Revenue Recognition, Incentives Sales incentives. The Company offers sales incentives through various programs, including cooperative advertising, price protection, marketing development funds and other incentives. Sales incentives are considered to be variable consideration, which the Company estimates and records as a reduction to revenue at the date of sale. The Company estimates sales incentives based on historical experience, product sell-through and other factors.
Shipping and Handling Cost, Policy Shipping costs. Amounts billed to customers for shipping and handling are classified as revenue, and the Company’s related shipping and handling costs incurred are classified as cost of revenue.
Sales Taxes Sales taxes. Sales taxes collected from customers and remitted to respective governmental authorities are recorded as liabilities and are not included in revenue.
Advertising Cost Advertising costs. Advertising costs consist of costs associated with print, television and e-commerce media advertisements and are expensed as incurred. The Company incurs promotional expenses resulting from payments under event, resort and athlete sponsorship contracts. These sponsorship arrangements are considered to be executory contracts and, as such, the costs are expensed as performance under the contract is received. The costs associated with the preparation of sponsorship activities, including the supply of GoPro products, media team support, and activation fees are expensed as incurred. Prepayments made under sponsorship agreements are included in prepaid expenses or other long-term assets depending on the period to which the prepayment applies. Advertising costs were $35.8 million, $34.1 million and $67.3 million in 2021, 2020 and 2019, respectively.
Employee benefit plans Stock-based compensation. Stock-based awards granted to qualified employees, non-employee directors and consultants are measured at fair value and recognized as an expense. The Company primarily issues restricted stock units and accounts for forfeitures as they occur. For service-based awards, stock-based compensation is recognized on a straight-line basis over the requisite service period. For performance and market-based awards which also require a service period, the Company uses graded vesting over the longer of the derived service period or when the performance or market condition is satisfied.
Foreign Currency Transactions and Translations Policy Foreign currency. The U.S. dollar is the functional currency of the Company’s foreign subsidiaries. The Company remeasures monetary assets or liabilities denominated in currencies other than the U.S. dollar using exchange rates prevailing on the balance sheet date, and non-monetary assets and liabilities at historical rates. Foreign currency remeasurement and transaction gains and losses are included in other income (expense), net and have not been material for any periods presented.
Income Tax, Policy
Income taxes. The Company utilizes the asset and liability method for computing its income tax provision, under which deferred tax assets and liabilities are recognized for the expected future consequences of temporary differences between the financial reporting and tax bases of assets and liabilities using enacted tax rates. Management makes estimates, assumptions and judgments to determine the Company’s provision for income taxes, deferred tax assets and liabilities, and any valuation allowance recorded against deferred tax assets. The Company assesses the likelihood that its deferred tax assets will be recovered from future taxable income in each tax jurisdiction and, to the extent the Company believes recovery is not likely, establishes a valuation allowance. In the period ended September 30, 2021, the Company assessed its deferred tax assets and based on the weight of available evidence, the Company concluded that it was more likely than not that its United States federal and state deferred tax assets would be realized. Therefore, in 2021 the Company released $284.6 million of valuation allowances, which resulted in a non-cash net benefit to earnings for the year ended December 31, 2021.
The Company recognizes the tax benefit from an uncertain tax position only if it is more likely than not the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The tax benefits recognized from such positions are then measured based on the largest benefit that has a greater than 50% likelihood of being realized upon settlement. Interest and penalties related to unrecognized tax benefits are recognized within income tax expense.
Segment information Segment information. The Company operates as one operating segment as it only reports financial information on an aggregate and consolidated basis to its Chief Executive Officer, who is the Company’s chief operating decision maker.
v3.22.0.1
Compensation Related Costs, Share Based Payments (Policies)
 12 Months Ended
Dec. 31, 2021
Share-based Payment Arrangement [Abstract]  
Share-based Payment Arrangement The income tax benefit related to stock-based compensation expense was $9.0 million for 2021. The income tax benefit related to stock-based compensation expense was zero for 2020 and 2019 respectively, due to a full valuation allowance on the Company’s United States net deferred tax assets during those respective years. See Note 8 Income taxes for additional details. At December 31, 2021, total unearned stock-based compensation of $50.2 million related to stock options, RSUs, PSUs and ESPP shares is expected to be recognized over a weighted-average period of 1.86 years.
v3.22.0.1
Summary of business and significant accounting policies (Tables)
 12 Months Ended
Dec. 31, 2021
Accounting Policies [Abstract]  
Schedule of recent accounting pronouncements
Recent accounting standards
StandardDescriptionCompany’s date of adoption
Effect on the consolidated financial statements or other significant matters
Standards that were adopted
Intangible - Goodwill and Other
ASU No. 2017-04 (Topic 350)

This standard simplifies the accounting for goodwill and removes Step 2 of the annual goodwill impairment test. Upon adoption, goodwill impairment is determined based on the amount by which a reporting unit’s carrying value exceeds its fair value, not to exceed the carrying amount of goodwill. The standard is applied on a prospective transition method.January 1, 2020The adoption of this standard did not impact the Company’s consolidated financial statements and related disclosures.
Financial Instruments - Credit Losses: Measurement of Credit Losses on Financial Instruments
ASU No. 2016-13
(Topic 326)
The standard changes the impairment model for most financial assets and replaces the existing incurred loss model with a current expected credit loss (CECL) model. The standard is applied on a modified retrospective approach.January 1, 2020The Company’s allowance for doubtful accounts and valuation of available-for-sale securities are subject to this standard. The Company concluded the adoption of this standard did not have a material impact on its consolidated financial statements and related disclosures.
StandardDescriptionCompany’s date of adoption
Effect on the consolidated financial statements or other significant matters
Standards not yet adopted
Debt—Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic 815-40)
ASU No. 2020-06

This standard simplifies the accounting for certain financial instruments with characteristics of liabilities and equity. ASU 2020-06 (1) simplifies the accounting for convertible debt instruments and convertible preferred stock by removing the existing guidance in ASC 470-20, Debt: Debt with Conversion and Other Options, that requires entities to account for beneficial conversion features and cash conversion features in equity, separately from the host convertible debt or preferred stock, (2) revises the scope exception from derivative accounting in ASC 815-40 for freestanding financial instruments and embedded features that are both indexed to the issuer’s own stock and classified in stockholders’ equity, by removing certain criteria required for equity classification, and (3) revises the guidance in ASC 260, Earnings Per Share, to require entities to calculate diluted earnings per share (“EPS”) for convertible instruments by using the if-converted method. The Company will use the modified retrospective method, whereby the cumulative effect of applying ASU 2020-06 is recognized as an adjustment to the opening balance of equity at January 1, 2022.
January 1, 2022
Upon adoption, the Company expects to record a net decrease in opening additional paid-in-capital of approximately $78.2 million as of January 1, 2022, due to the cumulative impact of adopting ASU 2020-06, with the impact primarily related to the reclassification of Senior Convertible Notes conversion feature’s fair value from additional paid-in-capital to short term and long term debt. Additionally, the Company expects to record an increase to opening retained earnings of approximately $47.1 million as of January 1, 2022 due to the cumulative impact of adopting ASU 2020-06, with the impact related to the reclassification of the previously amortized discount and deferred financing costs. After adoption, the Company expects a reduction in its reported interest expense. In addition, the Company expects to record a decrease of U.S. deferred tax liabilities of approximately $7.5 million, resulting in an additional corresponding increase to opening retained earnings. The Company expects the use of the if-converted method for calculating diluted earnings per share will result in an increase in weighted-average shares outstanding.
Although there are several other new accounting standards issued or proposed by the FASB, which the Company has adopted or will adopt, as applicable, the Company does not believe any of these accounting pronouncements has had or will have a material impact on its consolidated financial statements.
v3.22.0.1
Fair value measurements (Tables)
 12 Months Ended
Dec. 31, 2021
Fair Value Disclosures [Abstract]  
Assets measured at fair value on recurring basis
The Company’s assets that are measured at fair value on a recurring basis within the fair value hierarchy are summarized as follows:
December 31, 2021December 31, 2020
(in thousands)Level 1Level 2TotalLevel 1Level 2Total
Cash equivalents (1):
Money market funds$183,304 $— $183,304 $19,445 $— $19,445 
Total cash equivalents$183,304 $— $183,304 $19,445 $— $19,445 
Marketable securities:
Commercial paper$— $72,323 $72,323 $— $— $— 
Corporate debt securities— 41,108 41,108 — — — 
Government securities— 24,399 24,399 — — — 
Total marketable securities$— $137,830 $137,830 $— $— $— 
(1)    Included in cash and cash equivalents in the accompanying Consolidated Balance Sheets. Cash balances were $217.8 million as of December 31, 2021 and $308.2 million, including $2.0 million of restricted cash, as of December 31, 2020.
v3.22.0.1
Condensed consolidated financial statement details (Tables)
 12 Months Ended
Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Schedule of Inventory
Inventory
(in thousands)
December 31, 2021December 31, 2020
Components
$10,761 $13,229 
Finished goods
75,648 84,685 
Total inventory
$86,409 $97,914 
Property, Plant and Equipment
Property and equipment, net
(in thousands)
Useful life
(in years)		December 31, 2021December 31, 2020
Leasehold improvements (1)
1–9$33,764 $35,180 
Production, engineering and other equipment445,641 48,908 
Tooling1–213,537 17,635 
Computers and software220,771 22,385 
Furniture and office equipment35,614 6,315 
Tradeshow equipment and other2–51,970 5,860 
Construction in progress480 22 
Gross property and equipment
121,777 136,305 
Less: Accumulated depreciation and amortization(102,774)(112,594)
Property and equipment, net
$19,003 $23,711 
Schedule of Finite-Lived Intangible Assets
Intangible assets
Useful life
(in months)		December 31, 2021
(in thousands)Gross carrying valueAccumulated amortizationNet carrying value
Purchased technology 20-72$51,066 $(51,019)$47 
Domain name15 — 15 
Total intangible assets
$51,081 $(51,019)$62 

Useful life
(in months)		December 31, 2020
(in thousands)Gross carrying valueAccumulated amortizationNet carrying value
Purchased technology 20-72$51,066 $(49,867)$1,199 
Domain name15 —15 
Total intangible assets
$51,081$(49,867)$1,214
Schedule of Future Amortization At December 31, 2021, expected amortization expense of intangible assets with definite lives for future periods was as follows:
(in thousands)
Total
Year ending December 31,
2022$47 
$47 
Schedule of Other Assets
Other long-term assets
(in thousands)
December 31, 2021December 31, 2020
Point of purchase (POP) displays
$2,509 $3,612 
Long-term deferred tax assets
274,430 966 
Deposits and other
8,238 7,193 
Other long-term assets$285,177 $11,771 
Schedule of Accrued Liabilities
Accrued expenses and other current liabilities
(in thousands)
December 31, 2021December 31, 2020
Accrued liabilities (1)
$34,989 $39,444 
Accrued sales incentives
34,117 30,609 
Employee related liabilities19,024 7,067 
Return liability
9,263 10,817 
Warranty liability
8,268 7,997 
Inventory received
7,169 1,709 
Customer deposits
2,760 2,347 
Purchase order commitments
1,369 1,921 
Income taxes payable
223 221 
Other
11,390 11,644 
Accrued expenses and other current liabilities$128,572 $113,776 
Schedule of Product Warranty Liability
Product warranty
Year ended December 31,
(in thousands)
202120202019
Beginning balance
$8,523 $11,398 $10,971 
Charged to cost of revenue
16,641 12,690 16,933 
Settlement of warranty claims
(16,322)(15,565)(16,506)
Warranty liability
$8,842 $8,523 $11,398 
v3.22.0.1
Employee benefit plans (Tables)
 12 Months Ended
Dec. 31, 2021
Share-based Payment Arrangement [Abstract]  
schedule of share-based compensation, Performance Stock Units Award Activity [Table Text Block]
A summary of the Company’s PSU activity is as follows:
Shares
(in thousands)
Weighted-average grant date fair value
Non-vested shares at December 31, 20201,319 

$4.48 
Granted740 7.93 
Vested(637)4.77 
Forfeited(288)4.05 
Non-vested shares at December 31, 20211,134 $6.68 
Schedule of Share-based Compensation, Stock Options, Activity
A summary of the Company’s stock option activity is as follows:
Shares
(in thousands)
Weighted-average exercise price
Weighted-average remaining contractual term (in years)
Aggregate intrinsic value (in thousands)
Outstanding at December 31, 20203,431 $8.79 6.50$6,259 
Granted309 7.97 
Exercised(601)5.29 
Forfeited/Cancelled(59)19.57 
Outstanding at December 31, 20213,080 $9.18 5.92$8,735 
Vested and expected to vest at December 31, 20213,080 $9.18 5.92$8,735 
Exercisable at December 31, 20212,129 $10.72 4.83$4,371 
Schedule of Share-based Compensation, Restricted Stock Units Award Activity
A summary of the Company’s RSU activity is as follows:
Shares
(in thousands)
Weighted-average grant date fair value
Non-vested shares at December 31, 202010,639 $5.04 
Granted4,330 8.83 
Vested(5,159)5.53 
Forfeited(1,096)5.93 
Non-vested shares at December 31, 20218,714 $6.52 
Allocation of Stock-based Compensation Expense The following table summarizes stock-based compensation expense included in the Consolidated Statements of Operations:
Year ended December 31,
(in thousands)
202120202019
Cost of revenue
$1,794 $1,548 $1,902 
Research and development
17,263 13,415 17,167 
Sales and marketing
8,045 5,779 8,043 
General and administrative
11,548 9,221 10,076 
Total stock-based compensation expense
$38,650 $29,963 $37,188 
v3.22.0.1
Net loss per share (Tables)
 12 Months Ended
Dec. 31, 2021
Earnings Per Share [Abstract]  
Schedule of Net Income per Share, Basic and Diluted
The following table presents the calculations of basic and diluted net income (loss) per share:
Year ended December 31,
(in thousands, except per share data)
202120202019
Numerator:
Net income (loss)$371,171 $(66,783)$(14,642)
Denominator:
Weighted-average common shares - basic for Class A and Class B common stock154,274 149,037 144,891 
Effect of dilutive securities8,904 — — 
Weighted-average common shares - diluted for Class A and Class B common stock163,178 149,037 144,891 
Net income (loss) per share
Basic$2.41 $(0.45)$(0.10)
Diluted$2.27 $(0.45)$(0.10)
Schedule of Antidilutive Securities Excluded from Computation of Net Income per Share
The following potentially dilutive shares were not included in the calculation of diluted shares outstanding as the effect would have been anti-dilutive:
Year ended December 31,
(in thousands)
202120202019
Stock-based awards1,792 15,856 13,527 
v3.22.0.1
Income taxes (Tables)
 12 Months Ended
Dec. 31, 2021
Income Tax Disclosure [Abstract]  
Schedule of Components of Income Tax Expense (Benefit)
Income tax expense (benefit) consisted of the following:
Year ended December 31,
(in thousands)
202120202019
Current
Federal
$(128)$(164)$(52)
State
267 84 48 
Foreign
(7,669)4,956 (4,391)
Total current
(7,530)4,876 (4,395)
Deferred
Federal
(205,856)— — 
State
(67,933)— — 
Foreign
248 (50)(33)
Total deferred
(273,541)(50)(33)
Income tax expense (benefit)$(281,071)$4,826 $(4,428)
v3.22.0.1
Commitments, contingencies and guarantees (Tables)
 12 Months Ended
Dec. 31, 2021
Commitments and Contingencies Disclosure [Abstract]  
Components of Lease Expense [Text Block]
The components of net lease cost, which were recorded in operating expenses, were as follows:
Year ended December 31,
(in thousands)
2021 (1)
2020 (1)
2019 (1)
Operating lease cost (1)
$11,566 $14,815 $17,811 
Sublease income(964)(526)(656)
Right-of-use asset impairment cost— 12,460 — 
Net lease cost$10,602 $26,749 $17,155 
(1)    Operating lease cost includes variable lease costs, which are immaterial.
Supplemental cash flow information related to leases was as follows:
Year ended December 31,
(in thousands)20212020
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases$14,902 $14,310 
Right-of-use assets obtained in exchange for operating lease liabilities2,475 1,343 
Operating lease modifications to decrease right-of-use assets— (2,251)

Supplemental balance sheet information related to leases was as follows:
December 31, 2021December 31, 2020
Weighted-average remaining lease term (in years) - operating leases4.645.53
Weighted-average discount rate - operating leases6.0%6.2%
Schedule of Maturities of Lease Liabilities [Text Block]
As of December 31, 2021, maturities of operating lease liabilities were as follows:
(in thousands)
December 31, 2021
202212,727 
202312,758 
202411,748 
202511,477 
202611,710 
Thereafter974 
Total lease payments61,394 
Less: Imputed interest(8,603)
Present value of lease liabilities$52,791 
Other Commitments [Table Text Block] As of December 31, 2021, future commitments were as follows:
v3.22.0.1
Concentrations of risk and geographic information (Tables)
 12 Months Ended
Dec. 31, 2021
Concentration Risk [Line Items]  
Schedule of Accounts, Notes, Loans and Financing Receivable
The following table summarizes the Company’s accounts receivables sold, without recourse, and factoring fees paid:
Year ended December 31,
(in thousands)
202120202019
Accounts receivable sold$108,636 $99,410 $120,728 
Factoring fees426 678 1,509 
Schedule of Revenue by Geographic Region
Revenue by geographic region was as follows:
Year ended December 31,2021 vs 20202020 vs 2019
(in thousands)
202120202019
% Change
% Change
Americas
$607,534 $483,331 $523,975 26 %(8)%
Europe, Middle East and Africa (EMEA)
305,654 218,670 359,187 40 (39)
Asia and Pacific (APAC)
247,896 189,924 311,489 31 (39)
Total revenue
$1,161,084 $891,925 $1,194,651 30 %(25)%
Accounts Receivable [Member]  
Concentration Risk [Line Items]  
Schedules of Customer Concentration by Risk Factor
Customers who represented 10% or more of the Company’s net accounts receivable balance were as follows:
December 31, 2021December 31, 2020
Customer A18%23%
Customer B30%15%
Customer C*12%
Sales Revenue [Member]  
Concentration Risk [Line Items]  
Schedules of Customer Concentration by Risk Factor
Third-party customers who represented 10% or more of the Company’s total revenue were as follows:
Year ended December 31,
202120202019
Customer A11%10%11%
v3.22.0.1
Summary of business and significant accounting policies (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Jan. 01, 2022
Nov. 24, 2020
Apr. 12, 2017
Property, Plant and Equipment [Line Items]            
Restricted Cash $ 0 $ 2,000        
Allowance for Doubtful Other Receivables, Current 700 500        
Operating Lease, Impairment Loss 0 12,460 $ 0      
Contract with Customer, Liability 48,500 29,300        
Deferred Revenue, Revenue Recognized 27,600 15,400        
Advertising Expense 35,800 34,100 $ 67,300      
Accumulated deficit $ (279,345) $ (650,516)   $ 47,100    
Product Warranty Liability [Line Items]            
Warranty Period 12 months          
Convertible Senior Notes due 2022 [Member]            
Property, Plant and Equipment [Line Items]            
Interest rate           3.50%
Debt Instrument           $ 175,000
Convertible Senior Notes due 2025 [Member]            
Property, Plant and Equipment [Line Items]            
Interest rate         1.25%  
Debt Instrument         $ 143,800  
Europe [Member]            
Product Warranty Liability [Line Items]            
Warranty Period 24 months          
v3.22.0.1
Fair value measurements (Details) - USD ($)
$ in Thousands
Dec. 31, 2021
Dec. 31, 2020
Nov. 24, 2020
Apr. 12, 2017
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Cash $ 217,800 $ 308,200    
Marketable securities 137,830 0    
Restricted Cash 0 2,000    
Fair Value, Recurring [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Cash and Cash Equivalents 183,304 19,445    
Marketable securities 137,830 0    
Fair Value, Recurring [Member] | Money Market Funds [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Cash and Cash Equivalents 183,304 19,445    
Fair Value, Recurring [Member] | Level 1 [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Cash and Cash Equivalents 183,304 19,445    
Marketable securities 0 0    
Fair Value, Recurring [Member] | Level 1 [Member] | Money Market Funds [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Cash and Cash Equivalents 183,304 19,445    
Fair Value, Recurring [Member] | Level 2 [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Cash and Cash Equivalents 0 0    
Marketable securities 137,830 0    
Fair Value, Recurring [Member] | Level 2 [Member] | Money Market Funds [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Cash and Cash Equivalents 0 0    
Convertible Senior Notes due 2022 [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Debt Instrument       $ 175,000
Convertible Senior Notes due 2022 [Member] | Level 2 [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Fair value of convertible senior notes 132,400 146,000    
Convertible Senior Notes due 2025 [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Debt Instrument     $ 143,800  
Convertible Senior Notes due 2025 [Member] | Level 2 [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Fair value of convertible senior notes 189,000 166,800    
Corporate Debt Securities [Member] | Fair Value, Recurring [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Marketable securities 41,108 0    
Corporate Debt Securities [Member] | Fair Value, Recurring [Member] | Level 1 [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Marketable securities 0 0    
Corporate Debt Securities [Member] | Fair Value, Recurring [Member] | Level 2 [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Marketable securities 41,108 0    
Commercial Paper | Fair Value, Recurring [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Marketable securities 72,323 0    
Commercial Paper | Fair Value, Recurring [Member] | Level 1 [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Marketable securities 0 0    
Commercial Paper | Fair Value, Recurring [Member] | Level 2 [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Marketable securities 72,323 0    
US Government Debt Securities [Member] | Fair Value, Recurring [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Marketable securities 24,399 0    
US Government Debt Securities [Member] | Fair Value, Recurring [Member] | Level 1 [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Marketable securities 0 0    
US Government Debt Securities [Member] | Fair Value, Recurring [Member] | Level 2 [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Marketable securities $ 24,399 $ 0    
v3.22.0.1
Condensed consolidated financial statement details - Cash, Cash Equivalents and Marketable Securities (Details) - USD ($)
$ in Thousands
Dec. 31, 2021
Dec. 31, 2020
Cash and Cash Equivalents [Line Items]    
Cash $ 217,800 $ 308,200
Cash and cash equivalents $ 401,087 $ 325,654
v3.22.0.1
Condensed consolidated financial statement details - Inventory (Details) - USD ($)
$ in Thousands
Dec. 31, 2021
Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]    
Components $ 10,761 $ 13,229
Finished goods 75,648 84,685
Total inventory $ 86,409 $ 97,914
v3.22.0.1
Condensed consolidated financial statement details - Property and Equipment, Net (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Property, Plant and Equipment [Line Items]      
Gross property and equipment $ 121,777 $ 136,305  
Less: Accumulated depreciation and amortization (102,774) (112,594)  
Property and equipment, net 19,003 23,711  
Depreciation 9,800 14,500 $ 18,500
Leasehold Improvements [Member]      
Property, Plant and Equipment [Line Items]      
Gross property and equipment 33,764 35,180  
Production, engineering and other equipment [Member]      
Property, Plant and Equipment [Line Items]      
Gross property and equipment 45,641 48,908  
Tooling [Member]      
Property, Plant and Equipment [Line Items]      
Gross property and equipment 13,537 17,635  
Computers and software [Member]      
Property, Plant and Equipment [Line Items]      
Gross property and equipment 20,771 22,385  
Furniture and office equipment [Member]      
Property, Plant and Equipment [Line Items]      
Gross property and equipment 5,614 6,315  
Tradeshow Equipment and other [Member]      
Property, Plant and Equipment [Line Items]      
Gross property and equipment 1,970 5,860  
Construction in Progress [Member]      
Property, Plant and Equipment [Line Items]      
Gross property and equipment $ 480 $ 22  
v3.22.0.1
Condensed consolidated financial statement details - Intangible Assets and Goodwill (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Finite-Lived Intangible Assets, Net [Abstract]      
Gross carrying value $ 51,066 $ 51,066  
Accumulated amortization (51,019) (49,867)  
Net carrying value 47 1,199  
Intangible Assets, Gross (Excluding Goodwill) 51,081 51,081  
Intangible assets, net 62 1,214  
Indefinite-lived Intangible Assets [Roll Forward]      
Amortization of intangible assets 1,100 4,600 $ 7,800
Goodwill 146,459 146,459  
Indefinite-Lived Trademarks $ 15 $ 15  
v3.22.0.1
Condensed consolidated financial statement details - Future Amortization (Details) - USD ($)
$ in Thousands
Dec. 31, 2021
Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]    
2022 $ 47  
Net carrying value $ 47 $ 1,199
v3.22.0.1
Condensed consolidated financial statement details - Goodwill (Details) - USD ($)
$ in Thousands
Dec. 31, 2021
Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]    
Goodwill $ 146,459 $ 146,459
v3.22.0.1
Condensed consolidated financial statement details - Other Assets (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]      
POP Displays $ 2,509 $ 3,612  
Deferred Income Tax Assets, Net 274,430 966 $ 966
Deposits and other 8,238 7,193  
Other long-term assets 285,177 11,771  
Amortization of intangible assets 1,100 4,600 7,800
Amortization $ 2,800 $ 4,200 $ 7,500
v3.22.0.1
Condensed consolidated financial statement details - Accrued Liabilities (Details) - USD ($)
Dec. 31, 2021
Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]    
Employee related liabilities $ 19,024,000 $ 7,067,000
Accrued sales incentives 34,117,000 30,609,000
Other Accounts Payable and Accrued Liabilities 34,989,000 39,444,000
Customer Refund Liability, Current 9,263,000 10,817,000
Warranty liability 8,268,000 7,997,000
Customer deposits 2,760,000 2,347,000
Income taxes payable 223,000 221,000
Purchase Commitment, Remaining Minimum Amount Committed 1,369,000 1,921,000
Inventory received 7,169,000 1,709,000
Other 11,390,000 11,644,000
Accrued expenses and other current liabilities $ 128,572,000 $ 113,776,000
v3.22.0.1
Condensed consolidated financial statement details - Product Warranty (Details) - USD ($)
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]      
Beginning balances $ 8,523,000 $ 11,398,000 $ 10,971,000
Charged to cost of revenue 16,641,000 12,690,000 16,933,000
Settlements of warranty claims (16,322,000) (15,565,000) (16,506,000)
Ending balances 8,842,000 8,523,000 $ 11,398,000
Warranty liability 8,268,000 $ 7,997,000  
Product Warranty Accrual, Noncurrent $ 500,000    
v3.22.0.1
Financing Arrangements (Details)
$ / shares in Units, shares in Thousands
 3 Months Ended 12 Months Ended
Jan. 21, 2021
USD ($)
Nov. 24, 2020
USD ($)
$ / shares
Apr. 12, 2017
USD ($)
$ / shares
shares
Dec. 31, 2021
USD ($)
Sep. 30, 2021
USD ($)
Dec. 31, 2020
USD ($)
shares
Dec. 31, 2021
USD ($)
Dec. 31, 2020
USD ($)
shares
Dec. 31, 2019
USD ($)
Apr. 01, 2021
shares
Jan. 22, 2021
USD ($)
Oct. 22, 2020
shares
Line of Credit Facility [Line Items]                        
Long-term debt       $ 111,289,000   $ 218,172,000 $ 111,289,000 $ 218,172,000        
Amortization of Debt Discount (Premium)             14,208,000 $ 10,366,000 $ 8,987,000      
Payments for Repurchase of Equity, Prepaid Forward     $ 78,000,000                  
Treasury Shares Acquired, Estimated, Prepaid Forward | shares           9,200   9,200        
Operating Lease, Impairment Loss             0 $ 12,460,000 0      
Own-share Lending Arrangement, Shares, Issued | shares     9,200                  
SharesPurchasedUnderPrepaidForward | shares                   400   8,800
Proceeds from Issuance of Debt             $ 0 143,750,000 0      
Debt Instrument, Covenant Compliance, Asset Coverage Ratio       1.50     1.50          
Adjustments to Additional Paid in Capital, Capped Call Option, Issuance Costs         $ (10,200,000)     (10,249,000)        
Option Indexed To Issuers Equity, cap price   $ 12.0925                    
Payments to repurchase convertible debt         50,000,000              
Interest Paid, Including Capitalized Interest, Operating and Investing Activities         200,000   $ 6,127,000 6,717,000 6,179,000      
Gain (Loss) on Extinguishment of Debt             0 (5,389,000) $ 0      
Short-term Debt       $ 122,400,000     122,400,000          
Convertible Senior Notes due 2022 [Member]                        
Line of Credit Facility [Line Items]                        
Debt Instrument, Unamortized Discount       2,400,000     2,400,000          
Convertible Debt Principal Amount Conversion       125,000,000     125,000,000          
Interest Expense, Debt             4,400,000          
Amortization of Debt Issuance Costs             600,000          
Amortization of Debt Discount (Premium)             7,800,000          
Short-term Debt | Convertible Senior Notes due 2022 [Member]                        
Line of Credit Facility [Line Items]                        
Debt Issuance Costs, Net       $ 200,000     200,000          
Convertible Senior Notes due 2025 [Member] | Private Placement [Member]                        
Line of Credit Facility [Line Items]                        
Debt Instrument   $ 125,000,000                    
2021 Credit Facility [Member]                        
Line of Credit Facility [Line Items]                        
Credit agreement, current borrowing capacity                     $ 50,000,000  
Minimum Fixed Charge Coverage Ratio, minimum balance $ 10,000,000                      
Line of Credit Facility, Unused Capacity, Minimum Liquidity Requirement, Amount 55,000,000                      
Line of Credit Facility, Unused Capacity, Qualified Cash $ 40,000,000                      
Convertible Senior Notes due 2022 [Member]                        
Line of Credit Facility [Line Items]                        
Debt Instrument     $ 175,000,000                  
Long-term Debt, Percentage Bearing Fixed Interest, Amount     $ 128,300,000                  
Debt Instrument, Unamortized Discount           $ 10,200,000   10,200,000        
Interest rate     3.50%                  
Debt Instrument, Convertible, Conversion Ratio     94.0071                  
Convertible Debt Principal Amount Conversion     $ 1,000     125,000,000   125,000,000        
Debt Instrument, Convertible, Conversion Price | $ / shares     $ 10.64                  
Convertible debt, equity portion     $ 46,700,000                  
Effective rate   2.40% 10.50%                  
Debt Issuance Costs, Net     $ 5,700,000                  
Percentage of conversion price of notes       130.00%                
Percentage of trading price of notes       98.00%                
Long-term debt           114,000,000   114,000,000        
Interest Expense, Debt               5,900,000        
Amortization of Debt Issuance Costs               800,000        
Amortization of Debt Discount (Premium)               9,600,000        
Gain (Loss) on Extinguishment of Debt         5,400,000              
Debt Instrument, Repurchase Amount   $ 56,200,000                    
Debt Instrument, Repurchased Face Amount   45,200,000                    
Convertible Senior Notes due 2022 [Member] | Long-term Debt [Member]                        
Line of Credit Facility [Line Items]                        
Debt Issuance Costs, Gross     4,200,000                  
Debt Issuance Costs, Net           800,000   800,000        
proceedsfromconvertibledebtamountallocatedtodebtcomponent         50,600,000              
Convertible Senior Notes due 2022 [Member] | Additional Paid-in Capital [Member]                        
Line of Credit Facility [Line Items]                        
Debt Issuance Costs, Gross     $ 1,500,000                  
proceedsfromconvertibledebtamountallocatedtoequitycomponent         $ 5,400,000              
Convertible Senior Notes due 2025 [Member]                        
Line of Credit Facility [Line Items]                        
Debt Instrument   143,800,000                    
Long-term Debt, Percentage Bearing Fixed Interest, Amount   $ 106,900,000                    
Debt Instrument, Unamortized Discount       $ 29,700,000   36,100,000 29,700,000 36,100,000        
Interest rate   1.25%                    
Debt Instrument, Convertible, Conversion Ratio   107.1984                    
Convertible Debt Principal Amount Conversion   $ 1,000   $ 143,800,000   143,800,000 143,800,000 143,800,000        
Debt Instrument, Convertible, Conversion Price | $ / shares   $ 9.3285                    
Convertible debt, equity portion   $ 36,900,000                    
Effective rate   7.50%                    
Debt Issuance Costs, Net   $ 4,700,000                    
Percentage of conversion price of notes       130.00%                
Percentage of trading price of notes       98.00%                
Long-term debt       $ 111,300,000   104,200,000 111,300,000 104,200,000        
Interest Expense, Debt             1,800,000          
Amortization of Debt Issuance Costs             700,000          
Amortization of Debt Discount (Premium)             6,400,000          
Convertible Senior Notes due 2025 [Member] | Long-term Debt [Member]                        
Line of Credit Facility [Line Items]                        
Debt Issuance Costs, Gross   3,500,000                    
Debt Issuance Costs, Net       $ 2,700,000   $ 3,400,000 $ 2,700,000 $ 3,400,000        
Convertible Senior Notes due 2025 [Member] | Additional Paid-in Capital [Member]                        
Line of Credit Facility [Line Items]                        
Debt Issuance Costs, Gross   1,200,000                    
Convertible Senior Notes due 2025 [Member] | Over-Allotment Option [Member]                        
Line of Credit Facility [Line Items]                        
Debt Instrument   $ 18,800,000                    
Minimum [Member] | 2021 Credit Facility [Member]                        
Line of Credit Facility [Line Items]                        
Unused Capacity, Commitment Fee Percentage 0.375%                      
Maximum [Member] | 2021 Credit Facility [Member]                        
Line of Credit Facility [Line Items]                        
Unused Capacity, Commitment Fee Percentage 0.50%                      
London Interbank Offered Rate (LIBOR) [Member] | Minimum [Member] | 2021 Credit Facility [Member]                        
Line of Credit Facility [Line Items]                        
Basis Spread on Variable Rate 1.50%                      
London Interbank Offered Rate (LIBOR) [Member] | Maximum [Member] | 2021 Credit Facility [Member]                        
Line of Credit Facility [Line Items]                        
Basis Spread on Variable Rate 2.00%                      
Base Rate [Member] | Minimum [Member] | 2021 Credit Facility [Member]                        
Line of Credit Facility [Line Items]                        
Basis Spread on Variable Rate 0.50%                      
Base Rate [Member] | Maximum [Member] | 2021 Credit Facility [Member]                        
Line of Credit Facility [Line Items]                        
Basis Spread on Variable Rate 1.00%                      
v3.22.0.1
Stockholders' equity (Details)
$ in Thousands
 12 Months Ended
Dec. 31, 2021
USD ($)
shares
Dec. 31, 2020
USD ($)
shares
Dec. 31, 2019
USD ($)
Dec. 31, 2018
USD ($)
Class of Stock [Line Items]        
Stock options outstanding (shares) 3,080,000 3,431,000    
Common stock available for future grants (shares) 49,338,000      
Stockholders' Equity Note, Outstanding Shares Less than 10% of Aggregate Shares Outstanding, Conversion Ratio 1      
Stockholders' Equity Attributable to Parent | $ $ 615,914 $ 216,018 $ 233,529 $ 212,112
Treasury Stock [Member]        
Class of Stock [Line Items]        
Stockholders' Equity Attributable to Parent | $ $ (113,613) $ (113,613) $ (113,613) $ (113,613)
Common Class A [Member]        
Class of Stock [Line Items]        
Common stock authorized (shares) 500,000,000 500,000,000    
Common stock outstanding (shares) 129,815,000 122,233,000    
Common Stock, Voting Rights, Number 1      
Common Stock, Conversion Ratio 1      
Common Stock, Shares, Issued 129,815,000 122,233,000    
Common Stock, Voting Rights one      
Common Class B [Member]        
Class of Stock [Line Items]        
Common stock authorized (shares) 150,000,000 150,000,000    
Common stock outstanding (shares) 26,659,000 28,885,000    
Common Stock, Voting Rights, Number 10      
Common Stock, Shares, Issued 26,659,000 28,885,000    
Common Stock, Voting Rights ten      
Restricted Stock Units (RSUs) [Member]        
Class of Stock [Line Items]        
Restricted stock units outstanding (shares) 8,714,000 10,639,000    
Performance Shares [Member]        
Class of Stock [Line Items]        
Restricted stock units outstanding (shares) 1,134,000 1,319,000    
Performance stock units outstanding (shares) 967,000      
Common Stock        
Class of Stock [Line Items]        
Common stock available for future grants (shares) 36,577,000      
v3.22.0.1
Employee benefit plans - Narrative (Details) - USD ($)
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Allocated share-based compensation expense     $ 37,185,000
ESPP stock issued during period (shares) 800,000 1,000,000 958,000
ESPP weighted average purchase price of shares purchased (usd per share) $ 5.28 $ 3.42 $ 4.13
Unearned stock-based compensation, expected recognition period 1 year 10 months 9 days    
Share-based Payment Arrangement, Expense, Tax Benefit $ 9,000,000    
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay 4.00%    
Defined Contribution Plan, Employer Matching Contribution, Percent of Match 100.00%    
Defined Contribution Plan, Maximum Annual Contributions Per Employee, Percent 100.00%    
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested in Period, Fair Value $ 1,500,000 $ 1,700,000 $ 3,500,000
Defined Contribution Plan, Maximum Annual Contributions Per Employee, Percent 100.00%    
Defined Benefit Plan, Plan Assets, Contributions by Employer $ 800,000 $ 1,400,000 $ 4,000,000
RSUs [Member]      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Shares granted (shares) 4,330,000    
Weighted average price of shares granted (usd per share) $ 8.83 $ 4.59 $ 5.70
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value $ 28,500,000 $ 23,900,000 $ 34,900,000
Performance Shares [Member]      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Shares granted (shares) 740,000    
Weighted average price of shares granted (usd per share) $ 7.93    
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value $ 3,000,000 1,900,000  
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested in Period, Fair Value $ 7.93 $ 4.05 $ 7.51
Employee Stock Purchase Plan Shares [Member]      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Purchase Price of Common Stock, Percent 85.00%    
Stock Options, ESPP and Restricted Stock Units (RSUs) [Member]      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Unearned stock-based compensation costs $ 50,200,000    
2014 Equity Incentive Plans [Member] | Stock Options [Member]      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Expiration Period 10 years    
2014 Equity Incentive Plans [Member] | Performance Shares [Member]      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Award Vesting Period 3 years    
2014 Equity Incentive Plans [Member] | Minimum [Member] | Stock Options [Member]      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Award Vesting Period 1 year    
2014 Equity Incentive Plans [Member] | Minimum [Member] | RSUs [Member]      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Award Vesting Period 2 years    
2014 Equity Incentive Plans [Member] | Maximum [Member] | Stock Options [Member]      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Award Vesting Period 4 years    
2014 Equity Incentive Plans [Member] | Maximum [Member] | RSUs [Member]      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Award Vesting Period 4 years    
v3.22.0.1
Employee benefit plans - Stock Option Activity (Details) - USD ($)
$ / shares in Units, shares in Thousands
 3 Months Ended 12 Months Ended
Mar. 31, 2021
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Shares (in thousands)        
Outstanding at beginning of period (shares) 3,431 3,431    
Granted (shares)   309    
Exercised (shares)   (601)    
Forfeited/Cancelled (shares)   (59)    
Outstanding at end of period (shares)   3,080 3,431  
Weighted-average exercise price        
Outstanding at beginning of period (in dollars per share) $ 8.79 $ 8.79    
Granted (usd per share)   7.97    
Exercised (usd per share)   5.29    
Outstanding at end of period (in dollars per share)   $ 9.18 $ 8.79  
Weighted Average Remaining Contractual Term (in years) 6 years 6 months 5 years 11 months 1 day    
Aggregate intrinsic value (in thousands)   $ 8,735 $ 6,259,000  
Vested and Expected to Vest (shares)   3,080    
Vested and Expected to Vest - Weighted Average Exercise Price (in dollars per share)   $ 9.18    
Vested and Expected to Vest- Weighted Average Remaining Contractual Term   5 years 11 months 1 day    
Vested and Expected to Vest - Aggregate Intrinsic Value   $ 8,735    
Exercisable (shares)   2,129    
Exercisable - Weighted average exercise price (in dollars per share)   $ 10.72    
Exercisable - Weighted Average Remaining Contractual Term   4 years 9 months 29 days    
Exercisable - Aggregate intrinsic value   $ 4,371    
Share-based Compensation Arrangements by Share-based Payment Award, Options, Forfeitures in Period, Weighted Average Exercise Price   $ 19.57    
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value   $ 4.62 $ 2.03 $ 3.70
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested in Period, Fair Value   $ 1,500,000 $ 1,700,000 $ 3,500,000
v3.22.0.1
Employee benefit plans - Restricted Stock Units Activity (Details) - $ / shares
shares in Thousands
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
RSUs [Member]      
Shares (in thousands)      
Non-vested shares at beginning of period (shares) 10,639    
Granted (shares) 4,330    
Vested (shares) (5,159)    
Forfeited (shares) (1,096)    
Non-vested shares at end of period (shares) 8,714 10,639  
Weighted-average grant date fair value      
Non-vested shares at beginning of period (in dollars per share) $ 5.04    
Weighted average price of shares granted (usd per share) 8.83 $ 4.59 $ 5.70
Weighted average price of shares vested (usd per share) 5.53    
Weighted average price of shares forfeited (usd per share) 5.93    
Non-vested shares at end of period (in dollars per share) $ 6.52 $ 5.04  
Performance Shares [Member]      
Shares (in thousands)      
Non-vested shares at beginning of period (shares) 1,319    
Granted (shares) 740    
Vested (shares) (637)    
Forfeited (shares) (288)    
Non-vested shares at end of period (shares) 1,134 1,319  
Weighted-average grant date fair value      
Non-vested shares at beginning of period (in dollars per share) $ 4.48    
Weighted average price of shares granted (usd per share) 7.93    
Weighted average price of shares vested (usd per share) 4.77    
Weighted average price of shares forfeited (usd per share) 4.05    
Non-vested shares at end of period (in dollars per share) $ 6.68 $ 4.48  
v3.22.0.1
Employee benefit plans - Fair Value Assumptions for Stock Options (Details)
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Equity Option [Member]      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Volatility Rate, Minimum     50.00%
Expected Term 6.10 6.10 6.10
Dividend yield 0.00% 0.00% 0.00%
Volatility Rate, Maximum     52.00%
Interest Rate, Minimum 0.70% 0.40% 1.50%
Interest Rate, Maximum 1.10% 1.50% 2.20%
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]      
Expected Term 6.10 6.10 6.10
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Expected Term 6.10 6.10 6.10
Employee Stock Purchase Plan Shares [Member]      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Volatility Rate, Minimum 64.00% 60.00% 41.00%
Expected Term 0.5 0.5 0.5
Dividend yield 0.00% 0.00% 0.00%
Volatility Rate, Maximum 80.00% 98.00% 54.00%
Interest Rate, Minimum   0.10% 1.90%
Interest Rate, Maximum   1.60% 2.50%
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]      
Expected Term 0.5 0.5 0.5
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Expected Term 0.5 0.5 0.5
v3.22.0.1
Employee benefit plans - Fair Value Assumptions for Restricted Stock Units and ESPP (Details) - Employee Stock Purchase Plan Shares [Member]
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Volatility Rate, Minimum 64.00% 60.00% 41.00%
Dividend yield 0.00% 0.00% 0.00%
Volatility Rate, Maximum 80.00% 98.00% 54.00%
Interest Rate, Minimum   0.10% 1.90%
Interest Rate, Maximum   1.60% 2.50%
v3.22.0.1
Employee benefit plans - Allocation of Stock-based Compensation Expense (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]      
Total stock-based compensation expense $ 38,650 $ 29,963 $ 37,188
Share-based Payment Arrangement, Expense, Tax Benefit 9,000    
Cost of Revenue [Member]      
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]      
Total stock-based compensation expense 1,794 1,548 1,902
Research and Development [Member]      
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]      
Total stock-based compensation expense 17,263 13,415 17,167
Selling and Marketing Expense [Member]      
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]      
Total stock-based compensation expense 8,045 5,779 8,043
General and Administrative [Member]      
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]      
Total stock-based compensation expense $ 11,548 $ 9,221 $ 10,076
v3.22.0.1
Employee benefit plans Performance Stock Units activity (Details) - USD ($)
$ / shares in Units, shares in Thousands
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Performance Shares [Member]      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Restricted stock units outstanding (shares) 1,134 1,319  
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value $ 6.68 $ 4.48  
Granted (shares) 740    
Weighted average price of shares granted (usd per share) $ 7.93    
Vested (shares) (637)    
Weighted average price of shares vested (usd per share) $ 4.77    
Forfeited (shares) (288)    
Weighted average price of shares forfeited (usd per share) $ 4.05    
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value $ 3,000,000 $ 1,900,000  
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value $ 3,000,000 $ 1,900,000  
Restricted Stock Units (RSUs) [Member]      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Restricted stock units outstanding (shares) 8,714 10,639  
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value $ 6.52 $ 5.04  
Granted (shares) 4,330    
Weighted average price of shares granted (usd per share) $ 8.83 $ 4.59 $ 5.70
Vested (shares) (5,159)    
Weighted average price of shares vested (usd per share) $ 5.53    
Forfeited (shares) (1,096)    
Weighted average price of shares forfeited (usd per share) $ 5.93    
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value $ 28,500,000 $ 23,900,000 $ 34,900,000
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value $ 28,500,000 $ 23,900,000 $ 34,900,000
v3.22.0.1
Net loss per share Additional Information (Details)
 3 Months Ended 12 Months Ended
Nov. 24, 2020
USD ($)
shares
$ / shares
Apr. 12, 2017
USD ($)
shares
$ / shares
Dec. 31, 2020
shares
Dec. 31, 2021
shares
Dec. 31, 2020
shares
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]          
Treasury Shares Acquired, Estimated, Prepaid Forward     9,200,000   9,200,000
Option Indexed To Issuers Equity, cap price | $ $ 12.0925        
Common Class A [Member]          
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]          
Common Stock, Voting Rights, Number       1  
Conversion of Stock, Shares Issued       1  
Common Class B [Member]          
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]          
Common Stock, Voting Rights, Number       10  
Convertible Senior Notes due 2022 [Member]          
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]          
Debt Instrument | $   $ 175,000,000      
Interest rate   3.50%      
Maximum number of shares issuable upon conversion of the notes   20,600,000      
Debt Instrument, Convertible, Conversion Price | $ / shares   $ 10.64      
Convertible Senior Notes due 2025 [Member]          
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]          
Debt Instrument | $ $ 143,800,000        
Interest rate 1.25%        
Maximum number of shares issuable upon conversion of the notes 20,800,000        
Debt Instrument, Convertible, Conversion Price | $ / shares $ 9.3285        
v3.22.0.1
Net loss per share - Basic and Diluted Net Income per Share Attributable to Common Stockholders (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Thousands
 3 Months Ended 12 Months Ended
Dec. 31, 2020
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Apr. 12, 2017
Earnings Per Share [Abstract]          
Treasury Shares Acquired, Estimated, Prepaid Forward 9,200   9,200    
Numerator:          
Net income (loss)   $ 371,171 $ (66,783) $ (14,642)  
Denominator:          
Weighted Average Number of Shares Outstanding, Basic   154,274 149,037 144,891  
Weighted Average Number Diluted Shares Outstanding Adjustment   8,904 0 0  
Own-share Lending Arrangement, Shares, Issued         9,200
Treasury Shares Acquired, Estimated, Prepaid Forward 9,200   9,200    
Weighted Average Number of Shares Outstanding, Basic and Diluted       144,891  
Earnings Per Share, Diluted   $ 2.27 $ (0.45) $ (0.10)  
Weighted Average Number of Shares Outstanding, Diluted   163,178 149,037 144,891  
v3.22.0.1
Net loss per share - Antidilutive Securities Excluded from Computation of Net Income per Share (Details) - shares
shares in Thousands
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Earnings Per Share [Abstract]      
Antidilutive securities excluded from computation of earnings per share (shares) 1,792 15,856 13,527
v3.22.0.1
Income taxes - Income Tax Expense (Details) - USD ($)
 9 Months Ended 12 Months Ended
Sep. 30, 2021
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Income Tax Disclosure [Abstract]        
Income tax (benefit) expense   $ (281,071,000) $ 4,826,000 $ (4,428,000)
Effective tax rate (7.80%) (312.00%) (7.80%) 23.20%
Current Federal Tax Expense (Benefit)   $ (128,000) $ (164,000) $ (52,000)
Current State and Local Tax Expense (Benefit)   267,000 84,000 48,000
Current Foreign Tax Expense (Benefit)   (7,669,000) 4,956,000 (4,391,000)
Current Income Tax Expense (Benefit)   (7,530,000) 4,876,000 (4,395,000)
Deferred Federal Income Tax Expense (Benefit)   (205,856,000) 0 0
Deferred State and Local Income Tax Expense (Benefit)   (67,933,000) 0 0
Deferred Foreign Income Tax Expense (Benefit)   248,000 (50,000) (33,000)
Deferred Income Tax Expense (Benefit)   $ (273,541,000) $ (50,000) $ (33,000)
v3.22.0.1
Income taxes - Narrative (Details) - USD ($)
 6 Months Ended 9 Months Ended 12 Months Ended
Jun. 30, 2021
Sep. 30, 2021
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Operating Loss Carryforwards [Line Items]              
Business Combination Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Assets     $ 8,100,000        
Unrecognized Tax Benefits, Increase Resulting from Current Period Tax Positions $ 3,081,000     $ 2,541,000 $ 250,000    
Income (Loss) from Continuing Operations before Income Taxes, Domestic     83,419,000 (70,572,000) (28,233,000)    
Income tax (benefit) expense     (281,071,000) 4,826,000 (4,428,000)    
Loss before income taxes     $ 90,100,000 $ (61,957,000) $ (19,070,000)    
Effective tax rate   (7.80%) (312.00%) (7.80%) 23.20%    
Current Foreign Tax Expense (Benefit)     $ (7,669,000) $ 4,956,000 $ (4,391,000)    
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount     284,600,000        
Unrecognized Tax Benefits, Increase Resulting from Current Period Tax Positions $ 3,081,000     2,541,000 250,000    
Unrecognized Tax Benefits, Increase Resulting from Prior Period Tax Positions     3,900,000 1,681,000 0    
Unrecognized Tax Benefits, Decrease Resulting from Prior Period Tax Positions     (13,122,000) (3,929,000) (5,628,000)    
Unrecognized Tax Benefits     21,330,000   27,178,000 $ 27,471,000 $ 32,556,000
Accruals and reserves     10,514,000 11,687,000      
Total deferred tax assets     280,819,000 296,609,000      
Valuation allowance     0 (287,276,000)      
Total deferred tax assets, net of valuation allowance     280,819,000 9,333,000      
Unrecognized Tax Benefits that Would Impact Effective Tax Rate     7,300,000 15,300,000 12,500,000    
Income (Loss) from Continuing Operations before Income Taxes, Foreign     6,681,000 8,615,000 $ 9,163,000    
Net operating loss carryforwards     158,125,000 177,987,000      
Tax credit carryforwards     85,650,000 79,694,000      
Stock-based compensation     5,551,000 5,192,000      
Allowance for returns     2,504,000 2,492,000      
Intangible assets     4,803,000 5,453,000      
Deferred Tax Assets, Operating Loss Carryforwards, Subject to Expiration     1,700,000        
Significant Change in Unrecognized Tax Benefits is Reasonably Possible, Amount of Unrecorded Benefit     500,000        
Deferred Tax Assets, Property, Plant and Equipment     1,313,000 0      
Deferred Tax Liabilities, Property, Plant and Equipment     0 1,112,000      
Deferred Tax Liabilities, Other     6,389,000 7,255,000      
Deferred Tax Liabilities, Gross, Total     6,389,000 $ 8,367,000      
Domestic Tax Authority [Member]              
Operating Loss Carryforwards [Line Items]              
Tax Credit Carryforward, Amount     49,100,000        
Tax Credit Carryforward, Amount     49,100,000        
california [Domain]              
Operating Loss Carryforwards [Line Items]              
Tax Credit Carryforward, Amount     46,200,000        
Tax Credit Carryforward, Amount     46,200,000        
california [Domain]              
Operating Loss Carryforwards [Line Items]              
Deferred Tax Assets, Operating Loss Carryforwards, Domestic     615,700,000        
Deferred Tax Assets, Operating Loss Carryforwards, State and Local     241,800,000        
Deferred Tax Assets, Operating Loss Carryforwards, Domestic     615,700,000        
Deferred Tax Assets, Operating Loss Carryforwards, State and Local     241,800,000        
States Other than CA [Domain]              
Operating Loss Carryforwards [Line Items]              
Deferred Tax Assets, Operating Loss Carryforwards, State and Local     221,400,000        
Deferred Tax Assets, Operating Loss Carryforwards, State and Local     $ 221,400,000        
v3.22.0.1
Income taxes - Deferred Tax Assets (Details) - USD ($)
$ in Thousands
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Deferred tax assets:      
Net operating loss carryforwards $ 158,125 $ 177,987  
Tax credit carryforwards 85,650 79,694  
Stock-based compensation 5,551 5,192  
Allowance for returns 2,504 2,492  
Intangible assets 4,803 5,453  
Deferred Tax Assets, Operating lease liabilities 12,359 14,104  
Deferred Tax Assets, Property, Plant and Equipment 1,313 0  
Accruals and reserves 10,514 11,687  
Total deferred tax assets 280,819 296,609  
Valuation allowance 0 (287,276)  
Total deferred tax assets, net of valuation allowance 280,819 9,333  
Deferred Tax Liabilities, Property, Plant and Equipment 0 (1,112)  
Deferred Tax Liabilities Operating Lease Liability (6,389) (7,255)  
Deferred Tax Liabilities, Gross, Total 6,389 8,367  
Deferred Tax Assets, Net, Total $ 274,430 $ 966 $ 966
v3.22.0.1
Income taxes - Reconciliation (Details) - USD ($)
 9 Months Ended 12 Months Ended
Sep. 30, 2021
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Income Tax Disclosure [Abstract]        
Tax at federal statutory rate   $ 18,921,000 $ (13,011,000) $ (4,005,000)
Tax at federal statutory rate   21.00% 21.00% 21.00%
Change in valuation allowance   $ (284,551,000) $ 16,767,000 $ 4,717,000
Change in valuation allowance   (315.80%) (27.10%) (24.70%)
Impact of foreign operations   $ (8,222,000) $ 5,010,000 $ (3,949,000)
Impact of foreign operations   (9.20%) (8.10%) 20.70%
Stock-based compensation   $ (5,345,000) $ 696,000 $ 1,731,000
Stock-based compensation   5.90% 1.10% 9.10%
State taxes, net of federal benefits   $ 1,828,000 $ (682,000) $ 1,872,000
State taxes, net of federal benefits   2.00% 1.10% (9.80%)
Effective Income Tax Rate Reconciliation, Tax Credit, Amount   $ 6,091,000 $ 3,538,000 $ 5,123,000
Effective Income Tax Rate Reconciliation, Tax Credit, Percent   6.80% (5.70%) (26.80%)
Permanent tax adjustments   $ 1,517,000 $ 123,000 $ 305,000
Permanent Tax adjustment   1.70% (0.20%) (1.60%)
Other   $ 872,000 $ (539,000) $ 24,000
Other   1.00% 0.90% (0.10%)
Income tax (benefit) expense   $ (281,071,000) $ 4,826,000 $ (4,428,000)
Effective tax rate (7.80%) (312.00%) (7.80%) 23.20%
v3.22.0.1
Commitments, contingencies and guarantees (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Long-term Purchase Commitment [Line Items]      
Operating Lease, Cost $ 11,566 $ 14,815 $ 17,811
Operating Lease, Payments 14,902 14,310  
Finance Lease, Liability, to be Paid, Year One 12,727    
Finance Lease, Liability, to be Paid, Year Two 12,758    
Finance Lease, Liability, to be Paid, Year Three 11,748    
Finance Lease, Liability, to be Paid, Year Four 11,477    
Finance Lease, Liability, to be Paid, Year Five 11,710    
Lessee, Operating Lease, Liability, Payments, Due after Year Five 974    
Lessee, Operating Lease, Liability, Payments, Due (61,394)    
us-gaap_Lessee Operating Lease Liability Undiscounted Excess Amount (8,603)    
Operating Lease, Liability 52,791    
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability 2,475 1,343  
LesseeOperatingLeaseModification $ 0 $ (2,251)  
Operating Lease, Weighted Average Remaining Lease Term 4 years 7 months 20 days 5 years 6 months 10 days  
Operating Lease, Weighted Average Discount Rate, Percent 6.00% 6.20%  
Sublease Income $ (964) $ (526) (656)
Operating Lease, Impairment Loss 0 12,460 0
Lease, Cost 10,602 $ 26,749 $ 17,155
Other Commitments [Line Items]      
Other Commitment, to be Paid, Year One 27,052    
Other Commitment, to be Paid, Year Two 27,365    
Other Commitment, to be Paid, Year Three 11,067    
Other Commitment, to be Paid, Year Four 0    
Other Commitment, to be Paid, Year Five 0    
Long-Term Debt, Maturity, Year Five 0    
Long-Term Debt, Maturity, Year Four 145,547    
Long-Term Debt, Maturity, Year Three 1,797    
Long-Term Debt, Maturity, Year Two 1,797    
Long-term Debt, Maturities, Repayments of Principal in Next Rolling Twelve Months 128,984    
Other Commitment 65,484    
Long-term Debt, Gross 278,125    
Contractual Obligation 344,668    
Contractual Obligation, to be Paid, Year One 156,996    
Contractual Obligation, to be Paid, Year Two 29,261    
Contractual Obligation, to be Paid, Year Three 12,864    
Contractual Obligation, to be Paid, Year Four 145,547    
Contractual Obligation, to be Paid, Year Five 0    
Sponsorship Commitments      
Other Commitments [Line Items]      
Other Commitment, to be Paid, Year One 960    
Other Commitment, to be Paid, Year Two 99    
Other Commitment, to be Paid, Year Three 0    
Other Commitment, to be Paid, Year Four 0    
Other Commitment, to be Paid, Year Five 0    
Other Commitment $ 1,059    
v3.22.0.1
Concentrations of risk and geographic information - Narrative (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Revenue, Major Customer [Line Items]      
Revenue $ 1,161,084 $ 891,925 $ 1,194,651
United States [Member]      
Revenue, Major Customer [Line Items]      
Revenue 526,500 428,300 $ 429,900
Outside the United States [Member]      
Revenue, Major Customer [Line Items]      
Long-lived assets $ 5,700 $ 6,900  
v3.22.0.1
Concentrations of risk and geographic information - Schedule of Customer Concentration by Risk Factor (Details) - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Mar. 31, 2021
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Concentration Risk [Line Items]        
Accounts receivable sold   $ 108,636 $ 99,410 $ 120,728
Factoring fees   $ 426 $ 678 $ 1,509
Customer Concentration Risk [Member] | Accounts Receivable [Member] | Customer A [Member]        
Concentration Risk [Line Items]        
Concentration risk 23.00% 18.00%    
Customer Concentration Risk [Member] | Accounts Receivable [Member] | Customer B [Member]        
Concentration Risk [Line Items]        
Concentration risk 15.00% 30.00%    
Customer Concentration Risk [Member] | Accounts Receivable [Member] | Customer C [Member]        
Concentration Risk [Line Items]        
Concentration risk 12.00%      
Customer Concentration Risk [Member] | Sales Revenue [Member] | Customer A [Member]        
Concentration Risk [Line Items]        
Concentration risk   11.00% 10.00% 11.00%
v3.22.0.1
Concentrations of risk and geographic information - Schedule of Revenue by Geographic Segment (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Segment Reporting Information [Line Items]      
Revenue $ 1,161,084 $ 891,925 $ 1,194,651
United States [Member]      
Segment Reporting Information [Line Items]      
Revenue 526,500 428,300 429,900
Americas [Member]      
Segment Reporting Information [Line Items]      
Revenue 607,534 483,331 523,975
Europe, Middle East and Africa [Member]      
Segment Reporting Information [Line Items]      
Revenue 305,654 218,670 359,187
Asia and Pacific Area Countries [Member]      
Segment Reporting Information [Line Items]      
Revenue $ 247,896 $ 189,924 $ 311,489
v3.22.0.1
Restructuring charges - Restructuring Costs (Details) - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Jun. 30, 2020
Mar. 31, 2018
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Restructuring Cost and Reserve [Line Items]          
Restructuring and Related Costs    
Restructuring charges for each period were as follows:
Year ended December 31,
(in thousands)
202120202019
Cost of revenue
$70 $1,201 $54 
Research and development
600 8,062 585 
Sales and marketing
361 10,684 314 
General and administrative
195 5,449 501 
Total restructuring charges
$1,226 $25,396 $1,454 
    
Schedule of Restructuring Reserve by Type of Cost    
The following table provides a summary of the Company’s restructuring activities and the movement in the related liabilities recorded in accrued expenses and other current liabilities, and other long-term liabilities on the Consolidated Balance Sheets under the first quarter 2017 restructuring.
(in thousands)
Severance
Other
Total
Restructuring liability as of December 31, 2019$— $4,470 $4,470 
Restructuring charges (1)
— (57)(57)
Cash paid
— (3,559)(3,559)
Restructuring liability as of December 31, 2020$— $854 $854 
Restructuring charges (1)
— 384 384 
Cash paid
— (1,238)(1,238)
Restructuring liability as of December 31, 2021$— $— $— 
    
Restructuring charges     $ 1,226 $ 25,396 $ 1,454
Operating Lease, Impairment Loss     0 12,460 0
Cost of Revenue [Member]          
Restructuring Cost and Reserve [Line Items]          
Restructuring charges     70 1,201 54
Research and Development [Member]          
Restructuring Cost and Reserve [Line Items]          
Restructuring charges     600 8,062 585
Selling and Marketing Expense [Member]          
Restructuring Cost and Reserve [Line Items]          
Restructuring charges     361 10,684 314
General and Administrative [Member]          
Restructuring Cost and Reserve [Line Items]          
Restructuring charges     195 5,449 501
First quarter 2017 restructuring [Member]          
Restructuring Cost and Reserve [Line Items]          
Restructuring charges   $ 23,500      
Restructuring charges     384 57  
Restructuring Reserve     0 854 4,470
Other Restructuring Costs     384 57  
Cash paid     (1,238) (3,559)  
First quarter 2017 restructuring [Member] | Non-cancelable Leases, Accelerated Depreciation and Other Charges [Member]          
Restructuring Cost and Reserve [Line Items]          
Restructuring charges   13,200      
First quarter 2017 restructuring [Member] | Employee Severance [Member]          
Restructuring Cost and Reserve [Line Items]          
Restructuring Reserve     0 0 0
Severance Costs   $ 10,300 0 0  
Cash paid     0 0  
First quarter 2017 restructuring [Member] | Other Restructuring [Member]          
Restructuring Cost and Reserve [Line Items]          
Restructuring Reserve     0 854 4,470
Cash paid     (1,238) (3,559)  
Second quarter 2020 restructuring [Member]          
Restructuring Cost and Reserve [Line Items]          
Restructuring charges       29,000  
Restructuring charges     3,493 25,547  
Restructuring Reserve     34 88 0
Other Restructuring Costs     3,347 5,800  
Cash paid     (3,646) (8,830)  
Restructuring Reserve, Settled without Cash     99 16,629  
Second quarter 2020 restructuring [Member] | Non-cancelable Leases, Accelerated Depreciation and Other Charges [Member]          
Restructuring Cost and Reserve [Line Items]          
Restructuring charges       9,100  
Second quarter 2020 restructuring [Member] | Employee Severance [Member]          
Restructuring Cost and Reserve [Line Items]          
Restructuring Reserve     0 49 0
Severance Costs $ 7,400   146 7,287  
Cash paid     (195) (7,238)  
Restructuring Reserve, Settled without Cash     0 0  
Second quarter 2020 restructuring [Member] | Other Restructuring [Member]          
Restructuring Cost and Reserve [Line Items]          
Restructuring Reserve     34 39 0
Cash paid     (3,451) (1,592)  
Restructuring Reserve, Settled without Cash     99 4,169  
Second quarter 2020 restructuring [Member] | ROU Asset Impairment          
Restructuring Cost and Reserve [Line Items]          
Restructuring Reserve     0 0 $ 0
Cash paid     0 0  
Restructuring Reserve, Settled without Cash     $ 0 $ 12,460  
v3.22.0.1
Restructuring charges - Narrative (Details) - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Apr. 14, 2020
Mar. 15, 2017
Jun. 30, 2020
Mar. 31, 2018
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Restructuring Cost and Reserve [Line Items]              
Restructuring charges         $ 1,226 $ 25,396 $ 1,454
Operating Lease, Impairment Loss         0 12,460 $ 0
First quarter 2017 restructuring [Member]              
Restructuring Cost and Reserve [Line Items]              
Expected percent of positions eliminated   17.00%          
Restructuring charges       $ 23,500      
Other Restructuring Costs         384 57  
First quarter 2017 restructuring [Member] | Non-cancelable Leases, Accelerated Depreciation and Other Charges [Member]              
Restructuring Cost and Reserve [Line Items]              
Restructuring charges       13,200      
First quarter 2017 restructuring [Member] | Employee Severance and Pay Related Costs [Member]              
Restructuring Cost and Reserve [Line Items]              
Severance Costs       $ 10,300 0 0  
Second quarter 2020 restructuring [Member]              
Restructuring Cost and Reserve [Line Items]              
Expected percent of positions eliminated 20.00%            
Restructuring charges           29,000  
Other Restructuring Costs         3,347 5,800  
Second quarter 2020 restructuring [Member] | Non-cancelable Leases, Accelerated Depreciation and Other Charges [Member]              
Restructuring Cost and Reserve [Line Items]              
Restructuring charges           9,100  
Second quarter 2020 restructuring [Member] | Employee Severance and Pay Related Costs [Member]              
Restructuring Cost and Reserve [Line Items]              
Severance Costs     $ 7,400   $ 146 $ 7,287  
v3.22.0.1
Restructuring charges - Restructuring Liability (Details) - First quarter 2017 restructuring [Member] - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Mar. 31, 2018
Dec. 31, 2021
Dec. 31, 2020
Restructuring Cost and Reserve [Line Items]      
Other Restructuring Costs   $ (384) $ (57)
Restructuring Reserve [Roll Forward]      
Restructuring liability as of October 1, 2016   854 4,470
Restructuring charges   (384) (57)
Cash paid   (1,238) (3,559)
Restructuring liability as of December 31, 2017   0 854
Employee Severance [Member]      
Restructuring Cost and Reserve [Line Items]      
Severance Costs $ 10,300 0 0
Restructuring Reserve [Roll Forward]      
Restructuring liability as of October 1, 2016   0 0
Cash paid   0 0
Restructuring liability as of December 31, 2017   0 0
Other Restructuring [Member]      
Restructuring Reserve [Roll Forward]      
Restructuring liability as of October 1, 2016   854 4,470
Cash paid   (1,238) (3,559)
Restructuring liability as of December 31, 2017   $ 0 $ 854
v3.22.0.1
Subsequent Events (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Subsequent Event [Line Items]      
Restructuring charges $ 1,226 $ 25,396 $ 1,454
Sublease Income $ 964 $ 526 $ 656
Operating Lease, Weighted Average Discount Rate, Percent 6.00% 6.20%  
v3.22.0.1
Valuation and Qualifying Accounts (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Allowance for Doubtful Accounts Receivable [Member]        
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]        
SEC Schedule, 12-09, Valuation Allowances and Reserves, Amount $ 700 $ 492 $ 830 $ 500
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]        
Charges to Expense (393) (24) (616)  
SEC Schedule, 12-09, Valuation Allowances and Reserves, Deduction (185) (314) (286)  
SEC Schedule, 12-09, Valuation Allowances and Reserves, Amount 700 492 830  
SEC Schedule, 12-09, Valuation Allowance, Deferred Tax Asset [Member]        
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]        
SEC Schedule, 12-09, Valuation Allowances and Reserves, Amount 0 287,276 277,693 $ 271,374
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]        
Charges to Expense (284,551) (16,762) (4,717)  
Charges to Revenue 0 (7,179) (1,602)  
SEC Schedule, 12-09, Valuation Allowances and Reserves, Deduction (2,725)      
SEC Schedule, 12-09, Valuation Allowances and Reserves, Amount $ 0 $ 287,276 $ 277,693  
v3.22.0.1
Label Element Value
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $ 152,095,000