Quotient Technology (QUOT) 10-Q 5 Aug 20 2020 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2020	Jul. 30, 2020
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q2
Trading Symbol	QUOT
Entity Registrant Name	Quotient Technology Inc.
Entity Central Index Key	0001115128
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Common Stock, Shares Outstanding		90,449,766
Entity Shell Company	false
Entity Current Reporting Status	Yes
Entity File Number	001-36331
Entity Tax Identification Number	77-0485123
Entity Address, Address Line One	400 Logue Avenue
Entity Address, City or Town	Mountain View
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94043
City Area Code	650
Local Phone Number	605-4600
Entity Interactive Data Current	Yes
Title of 12(b) Security	Common stock, $0.00001 par value
Security Exchange Name	NYSE
Document Quarterly Report	true
Document Transition Report	false
Entity Incorporation, State or Country Code	DE

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 211,872	$ 224,764
Accounts receivable, net of allowance for credit losses of $2,079 and $2,021 at June 30, 2020 and December 31, 2019, respectively	94,311	125,304
Prepaid expenses and other current assets	23,991	22,026
Total current assets	330,174	372,094
Property and equipment, net	15,340	13,704
Operating lease right-of-use assets	16,851	7,211
Intangible assets, net	55,319	69,752
Goodwill	128,427	128,427
Other assets	1,098	750
Total assets	547,209	591,938
Current liabilities:
Accounts payable	12,308	19,116
Accrued compensation and benefits	7,801	15,232
Other current liabilities	47,200	50,032
Deferred revenues	13,011	10,903
Contingent consideration related to acquisitions	3,207	27,000
Total current liabilities	83,527	122,283
Other non-current liabilities	17,572	7,119
Contingent consideration related to acquisitions	10,239	9,220
Convertible senior notes, net	171,589	166,157
Deferred tax liabilities	1,937	1,937
Total liabilities	284,864	306,716
Commitments and contingencies (Note 14)
Stockholders’ equity:
Preferred stock, $0.00001 par value—10,000,000 shares authorized and no shares issued or outstanding at June 30, 2020 and December 31, 2019
Common stock, $0.00001 par value—250,000,000 shares authorized; 90,414,440 and 89,371,199 shares issued and outstanding at June 30, 2020 and December 31, 2019, respectively	1	1
Additional paid-in capital	684,285	671,060
Accumulated other comprehensive loss	(1,160)	(916)
Accumulated deficit	(420,781)	(384,923)
Total stockholders’ equity	262,345	285,222
Total liabilities and stockholders’ equity	$ 547,209	$ 591,938

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Statement Of Financial Position [Abstract]
Allowance for credit losses accounts	$ 2,079	$ 2,021
Preferred stock, par value	$ 0.00001	$ 0.00001
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.00001	$ 0.00001
Common stock, shares authorized	250,000,000	250,000,000
Common stock, shares issued	90,414,440	89,371,199
Common stock, shares outstanding	90,414,440	89,371,199

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Income Statement [Abstract]
Revenues	$ 83,455	$ 104,691	$ 182,242	$ 202,798
Costs and expenses:
Cost of revenues	50,731	64,106	111,842	120,929
Sales and marketing	23,814	23,870	48,848	49,393
Research and development	8,621	8,699	19,214	19,069
General and administrative	12,268	12,835	27,358	26,458
Change in fair value of contingent consideration	3,766	(3,009)	4,226	53
Total costs and expenses	99,200	106,501	211,488	215,902
Loss from operations	(15,745)	(1,810)	(29,246)	(13,104)
Interest expense	(3,610)	(3,470)	(7,184)	(6,909)
Other income, net	187	1,508	767	3,039
Loss before income taxes	(19,168)	(3,772)	(35,663)	(16,974)
Provision for (benefit from) income taxes	(35)	134	195	160
Net loss	$ (19,133)	$ (3,906)	$ (35,858)	$ (17,134)
Net loss per share, basic and diluted	$ (0.21)	$ (0.04)	$ (0.40)	$ (0.18)
Weighted-average number of common shares used in computing net loss per share, basic and diluted	90,112	92,558	89,875	93,406

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Statement Of Income And Comprehensive Income [Abstract]
Net loss	$ (19,133)	$ (3,906)	$ (35,858)	$ (17,134)
Other comprehensive income (loss):
Foreign currency translation adjustments	(11)	15	(244)	45
Comprehensive loss	$ (19,144)	$ (3,891)	$ (36,102)	$ (17,089)

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Unaudited) - USD ($) $ in Thousands	Total	Common Stock and Additional Paid-In Capital	Treasury Stock	Accumulated Other Comprehensive Loss	Accumulated Deficit
Beginning balances at Dec. 31, 2018	$ 380,087	$ 703,023		$ (844)	$ (322,093)
Repurchase of common stock			$ (70,946)
Stock-based compensation		16,329
Exercise of employee stock options		1,636
Issuance of common stock, purchase plan		1,427
Payments for taxes related to net share settlement of equity awards		(6,461)
Retirement of treasury stock		(50,288)	70,946		(20,658)
Other comprehensive income (loss)	45			45
Net loss	(17,134)				(17,134)
Ending balance at Jun. 30, 2019	304,982	665,666		(799)	(359,885)
Beginning balances at Mar. 31, 2019	346,620	689,810		(814)	(342,376)
Repurchase of common stock			(45,784)
Stock-based compensation		8,227
Exercise of employee stock options		193
Issuance of common stock, purchase plan		1,427
Payments for taxes related to net share settlement of equity awards		(1,810)
Retirement of treasury stock		(32,181)	$ 45,784		(13,603)
Other comprehensive income (loss)	15			15
Net loss	(3,906)				(3,906)
Ending balance at Jun. 30, 2019	304,982	665,666		(799)	(359,885)
Beginning balances at Dec. 31, 2019	285,222	671,061		(916)	(384,923)
Stock-based compensation		14,790
Exercise of employee stock options		484
Issuance of common stock for services provided		228
Issuance of common stock, purchase plan		1,050
Payments for taxes related to net share settlement of equity awards		(3,327)
Other comprehensive income (loss)	(244)			(244)
Net loss	(35,858)				(35,858)
Ending balance at Jun. 30, 2020	262,345	684,286		(1,160)	(420,781)
Beginning balances at Mar. 31, 2020	274,081	676,878		(1,149)	(401,648)
Stock-based compensation		7,129
Exercise of employee stock options		16
Issuance of common stock for services provided		228
Issuance of common stock, purchase plan		1,050
Payments for taxes related to net share settlement of equity awards		(1,015)
Other comprehensive income (loss)	(11)			(11)
Net loss	(19,133)				(19,133)
Ending balance at Jun. 30, 2020	$ 262,345	$ 684,286		$ (1,160)	$ (420,781)

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Cash flows from operating activities:
Net loss	$ (35,858)	$ (17,134)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:
Depreciation and amortization	17,843	15,632
Stock-based compensation	14,532	16,084
Amortization of debt discount and issuance cost	5,432	5,150
Allowance for credit losses	263	366
Deferred income taxes	195	160
Change in fair value of contingent consideration	4,226	53
Other non-cash expenses	1,442	1,219
Changes in operating assets and liabilities:
Accounts receivable	30,730	3,368
Prepaid expenses and other current assets	(2,470)	(2,779)
Accounts payable and other current liabilities	(7,551)	3,349
Payments for contingent consideration and bonuses	(15,418)
Accrued compensation and benefits	(7,478)	(3,249)
Deferred revenues	2,108	1,616
Net cash provided by operating activities	7,996	23,835
Cash flows from investing activities:
Purchases of property and equipment	(4,689)	(4,729)
Purchase of intangible assets		(14,811)
Proceeds from maturities of short-term investment		20,738
Net cash (used in) provided by investing activities	(4,689)	1,198
Cash flows from financing activities:
Proceeds from issuances of common stock under stock plans	1,762	3,063
Payments for taxes related to net share settlement of equity awards	(3,327)	(6,461)
Repurchases and retirement of common stock under share repurchase program		(69,879)
Principal payments on promissory note and capital lease obligations	(91)	(229)
Payments for contingent consideration	(14,582)
Net cash used in financing activities	(16,238)	(73,506)
Effect of exchange rates on cash and cash equivalents	39	23
Net decrease in cash and cash equivalents	(12,892)	(48,450)
Cash and cash equivalents at beginning of period	224,764	302,028
Cash and cash equivalents at end of period	211,872	253,578
Supplemental disclosures of cash flow information:
Cash paid for income taxes	67	119
Cash paid for interest	1,752	1,760
Supplemental disclosures of noncash investing and financing activities:
Fixed asset purchases not yet paid	908	355
Intangible asset acquisitions not yet paid	$ 1,000
Repurchase of common stock not settled		$ 2,623

Description of Business

Description of Business	6 Months Ended
	Jun. 30, 2020
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Description of Business	1. Description of Business Quotient Technology Inc. (together with its subsidiaries, the “Company”), is an industry leading digital marketing platform, providing technology and services that power integrated digital promotions and media programs for consumer packaged goods (“CPG”s) brands and retailers. These programs are delivered across the Company’s network, including its flagship consumer brand Coupons.com and retail partners. This network provides the Company with proprietary and licensed data, including online behaviors, purchase intent, and retailers’ in-store point-of-sale (“POS”) shopper data, to target shoppers with the most relevant digital coupons and ads. The Company also delivers digital promotions and media programs to third party publishing properties outside of its network. Customers and partners use the Company to influence shoppers via digital channels, integrate marketing and merchandising programs, and leverage shopper data and insights to drive measurable sales results.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2020
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies Basis of Presentation and Consolidation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) and applicable rules and regulations of the Securities and Exchange Commission (“SEC”) regarding interim financial reporting. Certain information and note disclosures normally included in the financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to such rules and regulations. As such, the information included in this Quarterly Report on Form 10-Q should be read in conjunction with the audited consolidated financial statements and accompanying notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2019. The Company’s condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All significant intercompany transactions and balances have been eliminated. The accompanying unaudited condensed consolidated financial statements reflect all normal recurring adjustments necessary to present fairly the financial position, results of operations, comprehensive loss, and cash flows for the interim periods, but are not necessarily indicative of the results of operations to be anticipated for the full year ending December 31, 2020 or for any other period. Certain prior period amounts on the condensed consolidated balance sheets have been reclassified to conform to the current period’s presentation. There have been no significant changes to the Company’s significant accounting policies described in the Annual Report on Form 10-K that have had a material impact on its condensed consolidated financial statements and related notes. Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported and disclosed in the Company’s condensed consolidated financial statements and accompanying notes. Such management estimates include, but are not limited to, revenue recognition, collectability of accounts receivable, coupon code sales return reserve, valuation of assets acquired and liabilities assumed in a business combination, useful lives of intangible assets, estimates related to recovery of long-lived assets and goodwill, measurement of contingent consideration, restructuring accruals, debt discounts, stock-based compensation, deferred income tax assets and associated valuation allowances and distribution fee commitments. These estimates generally require judgments, may involve the analysis of historical and prediction of future trends, and are subject to change from period to period. Actual results may differ from the Company’s estimates, and such differences may be material to the accompanying condensed consolidated financial statements. The COVID-19 pandemic has created and may continue to create significant uncertainty in macroeconomic conditions, which may cause further business slowdowns or shutdowns, depress demand for the Company’s advertising business, and adversely impact the Company’s results of operations. The Company expects uncertainties around its key accounting estimates to continue to evolve depending on the duration and degree of impact associated with the COVID-19 pandemic . The Company’s estimates may change as new events occur and additional information emerges, and such changes are recognized or disclosed in its condensed consolidated financial statements. Recently Issued Accounting Pronouncements Accounting Pronouncements Adopted Credit Losses Topic 326: I The Company adopted ASU 2016-13 on January 1, 2020 and the impact of the adoption was not material to the Company’s condensed consolidated financial statements and related disclosures. Revenue Recognition The Company primarily generates revenue by providing digital promotions and media solutions to its customers and partners. Revenues are recognized when control of the promised goods or services is transferred to the Company’s customers, in an amount that reflects the consideration the Company expects to be entitled to in exchange for those goods or services. We determine revenue recognition through the following steps: • Identification of the contract, or contracts, with a customer • Identification of the performance obligations in the contract • Determination of the transaction price • Allocation of the transaction price to the performance obligations in the contract • Recognition of revenue when, or as, we satisfy a performance obligation The Company provides digital promotions, including digital coupons, and/or media programs to its customers which consists of CPG customers, retail partners and advertising agencies whereby it uses its proprietary technology platforms to create, target, and deliver these programs. The Company typically generates revenue from its customers through the use of these programs on a cost-per-click, cost-per-impression, or cost-per-acquisition basis. Programs usually include a limit on the number of clicks and/or impressions and are billed monthly. The pricing of digital promotions programs typically includes both promotion setup fees and promotion campaign fees. Promotion setup fees are related to the creation of digital promotions and set up of the underlying campaign on Quotient’s proprietary platform for tracking of the related clicks. The Company recognizes revenues related to promotion setup fees over time, proportionally, on a per click basis, using the number of authorized clicks, per insertion order, commencing on the date of the first click. A click refers to the consumers action of activating a digital promotion through the Company’s proprietary technology platform by either saving it to a retailer’s loyalty account for automatic digital redemption, or printing it for physical redemption at a retailer. Promotion campaign fees are usually determined on a per click basis. The Company typically recognizes revenues for digital promotion campaign fees as clicks occur. The Company’s media programs enable CPGs and retailers to distribute digital media to promote their brands and products on its retailers’ websites, and mobile apps, and through a network of affiliate publishers and non-publisher third parties that display its media offerings on their websites or mobile apps. Pricing for media campaigns is usually determined on a cost-per-impression, cost-per-click or cost-per-acquisition basis. The Company recognizes revenue each time a digital media ad is displayed or each time a user clicks on the media ad displayed on the Company’s websites, mobile apps or on third-party websites. Digital promotion programs also include the Company’s Specialty Retail business, in which specialty stores including clothing, electronics, home improvement and others, and coupon code offers. Each time a consumer makes a purchase using a coupon code, a fee is typically paid to the Company. The Company usually generates revenues when a consumer makes a purchase using a coupon code from its platform and completion of the order is reported to the Company. In the same period that the Company recognizes revenues for the delivery of coupon codes, it also estimates and records a reserve, based upon historical experience, to provide for end-user cancelations or product returns which may not be reported until a subsequent date. Gross Versus Net Revenue Reporting In the normal course of business and through its distribution network, the Company delivers digital promotions and media on retailers’ websites through retailers’ loyalty programs, and on the websites of digital publishers. In these situations, the Company evaluates whether it is the principal (i.e., report revenues on a gross basis) or agent (i.e., report revenues on a net basis). The Company reports certain digital promotion and media advertising revenues for campaigns placed on third-party owned properties on a gross basis, that is, the amounts billed to its customers are recorded as revenues, and distribution fees paid to retailers or digital publishers are recorded as cost of revenues. The Company is the principal because it controls the digital promotion and media advertising inventory before it is transferred to its customers. The Company’s control is evidenced by its sole ability to monetize the digital coupon and media advertising inventory, being primarily responsible to its customers, having discretion in establishing pricing for the delivery of the digital promotions and media, or a combination of these. In other cases, the Company reports certain digital media advertising revenues on a net basis, that is, the costs for digital advertising inventory and third-party data paid to suppliers are deducted from gross revenues to arrive at net revenues. The Company’s performance obligation in these arrangements is to provide the use of its platforms Arrangements with Multiple Performance Obligations The Company’s contracts with customers may include multiple performance obligations. For these contracts, the Company accounts for individual performance obligations separately if they are distinct. The transaction price is allocated to the separate performance obligations on a relative standalone selling price basis. The Company determines its best estimate of its standalone selling prices based on its overall pricing objectives, taking into consideration market conditions and other factors, including the value of its contracts and characteristics of targeted customers. Accounts Receivables, Net of Allowance for Credit Losses Trade and other receivables are included in accounts receivables and primarily comprised of trade receivables that are recorded at invoiced amounts, net of an allowance for credit losses and do not bear interest. Other receivables included unbilled receivables related to digital promotions and media advertising contracts with customers. The Company generally does not require collateral and performs ongoing credit evaluations of its customers and maintains allowances for potential credit losses. The Company maintains an allowance for credit losses based upon the expected collectability of its accounts receivable. The Company assesses collectability by reviewing accounts receivable on a collective basis where similar characteristics exist and on an individual basis when we identify specific customers with known disputes or collectability issues. In determining the amount of the allowance for credit losses, the Company reviewed credit profiles of its customers, contractual terms and conditions, current economic trends, reasonable and supportable forecasts of future economic conditions, and historical payment experience. For the three and six months ended June 30, 2020, the Company’s assessment considered business and market disruptions caused by COVID-19 and estimates of expected emerging credit and collectability trends. The continued volatility in market conditions and evolving shifts in credit trends are difficult to predict causing variability and volatility that may have a material impact on our allowance for credit losses in future periods. Deferred Revenues Deferred revenues consist of promotion setup fees, promotion campaign fees and digital media fees that are expected to be recognized upon click, or delivery of media impressions, which generally occur within the next twelve months. The Company records deferred revenues, including amounts which are refundable, when cash payments are received or become due in advance of the Company satisfying its performance obligations. The increase in the deferred revenue balance for the six months ended June 30, 2020 is primarily driven by cash payments received or due in advance of satisfying the Company’s performance obligations of $13.9 million, partially offset by $11.8 million of recognized revenue. The Company’s payment terms vary by the type and size of its customers. For certain products or services and customer types, we require payment before the products or services are delivered to the customer. Disaggregated Revenue The following table presents the Company’s revenues disaggregated by type of services (in thousands, unaudited). The majority of the Company’s revenue is generated from sales in the United States. Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 Promotion $ 46,627 $ 57,551 $ 106,338 $ 121,118 Media 36,828 47,140 75,904 81,680 Total Revenue $ 83,455 $ 104,691 $ 182,242 $ 202,798 Practical Expedients and Exemptions The Company does not disclose the value of unsatisfied performance obligations for (i) contracts with an original expected length of one year or less and (ii) contracts for which it recognizes revenue for an amount where it has the right to invoice for services performed. Sales Commissions The Company generally incurs and expenses sales commissions upon recognition of revenue for related goods and services, which typically occurs within one year or less. Sales commissions earned related to revenues for initial contracts are commensurate with sales commissions related to renewal contracts. These costs are recorded within sales and marketing expenses on the condensed consolidated statements of operations.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2020
Fair Value Disclosures [Abstract]
Fair Value Measurements	3. Fair Value Measurements The 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 measurement date. Fair value is estimated by applying the following hierarchy, which prioritizes the inputs used to measure fair value into three levels and bases the categorization within the hierarchy upon the lowest level of input that is available and significant to the fair value measurement: Level 1—Quoted prices (unadjusted) in active markets for identical assets or liabilities. Level 2—Observable inputs other than quoted prices in active markets for identical assets and liabilities, quoted prices for identical or similar assets or liabilities in inactive markets, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 3—Inputs that are generally unobservable and typically reflect management’s estimate of assumptions that market participants would use in pricing the asset or liability. Assets and Liabilities Measured at Fair Value on a Recurring Basis The Company’s fair value hierarchy for its financial assets and liabilities that are measured at fair value on a recurring basis are as follows (in thousands): June 30, 2020 Level 1 Level 2 Level 3 Total Assets: Cash equivalents: Money market funds $ 104,907 — — $ 104,907 U.S. Treasury Bills — — — — Total $ 104,907 $ — $ — $ 104,907 Liabilities: Contingent consideration related to acquisitions — — 13,446 13,446 Total $ — $ — $ 13,446 $ 13,446 December 31, 2019 Level 1 Level 2 Level 3 Total Assets: Cash equivalents: Money market funds $ 124,303 — — $ 124,303 U.S. Treasury Bills 15,120 — — 15,120 Total $ 139,423 $ — $ — $ 139,423 Liabilities: Contingent consideration related to acquisitions — — 36,220 36,220 Total $ — $ — $ 36,220 $ 36,220 The valuation technique used to measure the fair value of money market funds and U.S. Treasury Bills includes using quoted prices in active markets. The money market funds have a fixed net asset value (NAV) of $1.0. The contingent consideration relates to the acquisitions of MLW Squared Inc. (“Ahalogy”), Elevaate Ltd. (“Elevaate”) and Ubimo Ltd. (“Ubimo”) The fair values of contingent consideration are based on the expected achievement of certain revenue targets as defined under the acquisition agreements and were estimated using an option pricing method with significant inputs that are not observable in the market, thus classified as a Level 3 instrument. The inputs included the expected achievement of certain financial metrics over the contingent consideration period, volatility and discount rate. The fair-value of the contingent consideration is classified as a liability and is re-measured each reporting period. Refer to Note 6 for further details related to the acquisitions. The following table represents the change in the contingent consideration (in thousands): Three Months Ended June 30, 2020 Six Months Ended June 30, 2020 Ubimo Elevaate Ahalogy Ubimo Elevaate Ahalogy Level 3 Level 3 Level 3 Level 3 Level 3 Level 3 Balance at the beginning of period $ 5,979 $ 3,701 $ — $ 5,686 $ 3,534 $ 27,000 Change in fair value during the period 4,260 (494 ) — 4,553 (327 ) — Payments made during the period — — — — — (27,000 ) Total $ 10,239 $ 3,207 $ — $ 10,239 $ 3,207 $ — Three Months Ended June 30, 2019 Six Months Ended June 30, 2019 Elevaate Ahalogy Elevaate Ahalogy Level 3 Level 3 Level 3 Level 3 Balance at the beginning of period $ 7,133 $ 24,893 $ 6,121 $ 22,842 Change in fair value during the period (4,118 ) 1,108 (3,106 ) 3,159 Total $ 3,015 $ 26,001 $ 3,015 $ 26,001 The Company recorded a charge of $3.7 million and $4.2 million during the three and six months ended June 30, 2020, respectively, for the re-measurement of the fair values of contingent consideration related to acquisitions, as a component of operating expenses in the accompanying condensed consolidated statements of operations. The Company recorded a benefit of $3.0 million and a charge of $0.1 million during the three and six months ended June 30, 2019, respectively, for the re-measurement of the fair values of contingent consideration related to acquisitions, as a component of operating expenses in the accompanying condensed consolidated statements of operations. During the six months ended June 30, 2020, the Company paid $27.0 million related to Ahalogy’s achievement of financial metrics subject to contingent consideration during the measurement period ending December 31, 2019, and as a result, no liability exists as of June 30, 2020. Out of the total consideration paid, $14.6 million was originally measured and recorded on the acquisition date and $12.4 million was recorded subsequent to the acquisition date through changes in fair value of contingent consideration within the condensed consolidated statements of operations. Fair Value Measurements of Other Financial Instruments As of June 30, 2020 and December 31, 2019, the fair value of the Company’s 1.75% convertible senior notes due 2022 was $190.0 million and $195.4 million, respectively. The fair value was determined based on a quoted price of the convertible senior notes in an over-the-counter market on the last trading day of the reporting period. Accordingly, these convertible senior notes are classified within Level 2 in the fair value hierarchy. Refer to Note 8 for additional information related to the Company’s convertible debt.

Allowance for Credit Losses

Allowance for Credit Losses	6 Months Ended
	Jun. 30, 2020
Credit Loss [Abstract]
Allowance for Credit Losses	4. Allowance for Credit Losses The summary of activity in the allowance for credit losses is as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 Balance at the beginning of period $ 2,043 $ 1,331 $ 2,021 $ 1,200 Provision for expected credit losses 46 234 263 366 Write-offs charged against the allowance (10 ) (184 ) (205 ) (185 ) Balance at the end of period $ 2,079 $ 1,381 $ 2,079 $ 1,381

Balance Sheet Components

Balance Sheet Components	6 Months Ended
	Jun. 30, 2020
Balance Sheet Related Disclosures [Abstract]
Balance Sheet Components	5. Balance Sheet Components Property and Equipment, Net Property and equipment consist of the following (in thousands): June 30, 2020 December 31, 2019 Software $ 42,784 $ 41,876 Computer equipment 23,658 25,773 Leasehold improvements 5,855 5,883 Furniture and fixtures 2,473 2,449 Total 74,770 75,981 Accumulated depreciation and amortization (63,678 ) (63,543 ) Projects in process 4,248 1,266 Total property and equipment, net $ 15,340 $ 13,704 Depreciation and amortization expense related to property and equipment was $ 1.8 million and $ 3.4 million for the three and six months ended June 30, 2020 , respectively , and $ 1.9 million and $ 3.7 million for the three and six months ended June 30, 2019, respectively . The Company capitalized internal use software development and enhancement costs of $1.9 million and $3.6 million during the three and six months ended June 30, 2020, respectively, and $2.0 million and $3.0 million during the three and six months ended June 30, 2019, respectively. During the three and six months ended June 30, 2020, the Company had $0.8 million and $1.5 million, respectively, in amortization expense related to internal use software, which is included in property and equipment depreciation and amortization expense and recorded as cost of revenues, as compared to $0.6 million and $1.2 million during the three and six months ended June 30, 2019, respectively. The unamortized capitalized development costs were $7.9 million and $5.8 million as of June 30, 2020 and December 31, 2019, respectively. Accrued Compensation and Benefits Accrued compensation and benefits consist of the following (in thousands): June 30, 2020 December 31, 2019 Commissions $ 2,784 $ 5,996 Payroll and related expenses 2,692 2,533 Bonus 1,405 5,997 Vacation 920 706 Total accrued compensation and benefits $ 7,801 $ 15,232 Other Current Liabilities Other current liabilities consist of the following (in thousands): June 30, 2020 December 31, 2019 Distribution fees $ 17,925 $ 20,360 Traffic acquisition cost 8,303 5,278 Prefunded liability 5,042 5,429 Marketing expenses 3,624 2,164 Operating lease liabilities 3,039 3,168 Liability related to purchased intangible asset 1,000 1,000 Interest payable 282 282 Other 7,985 12,351 Total other current liabilities $ 47,200 $ 50,032

Acquisitions

Acquisitions	6 Months Ended
	Jun. 30, 2020
Business Combinations [Abstract]
Acquisitions	6. Acquisitions Acquisition of Ubimo On November 19, 2019, the Company acquired all outstanding shares of Ubimo, a leading data and media activation company. The total preliminary acquisition consideration of $20.7 million consisted of $15.0 million in cash and contingent consideration of up to $24.8 million payable in cash with an estimated fair value of $5.7 million as of the acquisition date. The contingent consideration payout is based on Ubimo achieving certain financial metrics between the date of the acquisition through December 31, 2021. The acquisition date fair value was determined using an option pricing model. The fair value of the contingent consideration will be re-measured through earnings every reporting period. Refer to Note 3 for the fair value of contingent consideration at June 30, 2020. Acquisition of Elevaate On October 26, 2018, the Company acquired all the outstanding shares of Elevaate, a sponsored search company for retail partners and CPG brands. The total preliminary acquisition consideration of $13.3 million consisted of $7.2 million in cash and contingent consideration of up to $18.5 million payable in cash with an estimated fair value of $6.1 million as of the acquisition date. The contingent consideration payout is based on Elevaate achieving certain financial metrics between February 1, 2019 through January 31, 2021. The acquisition date fair value of the contingent consideration was determined by using an option pricing model. The fair value of the contingent consideration will be re-measured every reporting period. Refer to Note 3 for the fair value of contingent consideration at June 30, 2020. Acquisition of SavingStar, Inc. On August 27, 2018, the Company acquired all the outstanding shares of SavingStar, Inc. (“SavingStar”), a digital promotions company The total preliminary acquisition consideration at closing consisted of $7.5 million in cash. In addition, SavingStar may receive potential contingent consideration of up to $10.6 million payable in all cash, subject to achieving certain financial metrics between closing through February 29, 2020. At the date of acquisition, the contingent consideration’s fair value was determined to be zero using an option pricing model. As of February 29, 2020, the date that the contingent consideration period ended, SavingStar did not achieve certain financial metrics for payout and the fair value was concluded to be zero. Accordingly, the Company determined that no payout was required when the contingent consideration period ended. Acquisition of Ahalogy On June 1, 2018, the Company acquired all the outstanding shares of Ahalogy, an influencer marketing firm that delivers premium content across social media channels for CPG brands. The acquisition enhances the Company’s performance media solutions for CPGs and retailers, adding social media expertise and a roster of influencers. The total preliminary acquisition consideration of $36.4 million consisted of $21.8 million in cash and contingent consideration of up to $30.0 million payable in all cash with an estimated fair value of $14.6 million as of the acquisition date. The contingent consideration payout is based on Ahalogy achieving certain financial metrics between closing through December 31, 2019. The acquisition date fair value of the contingent consideration was determined by using an option pricing model. The fair value of the contingent consideration is re-measured every reporting period. As of December 31, 2019, the date that the contingent consideration period ended, Ahalogy earned the full payout of the contingent consideration by achieving certain financial metrics. The Company paid out $30.0 million during the three and six months ended June 30, 2020, of which $27.0 million related to contingent consideration and $3.0 million related to certain bonuses; and as a result, no liability exists as of June 30, 2020. Of the total $30.0 million that was paid, $14.6 million is classified within financing activity and the remaining $15.4 million is classified within operating activity on the Company’s condensed consolidated statements of cash flows. Refer to Note 3 for the fair value of contingent consideration at June 30, 2020. Each of these acquisitions were accounted for as a business combination. Accordingly, assets acquired and liabilities assumed were recorded at their estimated fair values as of the acquisition date when control was obtained. The Company expensed all transaction costs in the period in which they were incurred. The Company acquired various intangible assets resulting from these acquisitions, such as, customer relationships, vendor relationships, developed technologies and trade names. The fair value of the customer relationships was determined by using a discounted cash flow model. The fair value of the vendor relationships was determined by using a cost approach. The fair value of developed technologies was determined by using the relief from royalty method or the with-and-without method. The fair value of trade names was determined by using the relief from royalty method. The excess of the consideration paid over the fair value of the net tangible assets and liabilities and identifiable intangible assets acquired is recorded as goodwill. The goodwill arising from the acquisitions are largely attributable to the synergies expected to be realized. None of the goodwill recorded from the acquisitions will be deductible for income tax purposes. For each of these transactions, As the Company finalizes certain valuation assumptions, the provisional measurements of identifiable assets and liabilities, and the resulting goodwill related to the acquisition of Ubimo are subject to change and the final purchase price accounting could be different from the amounts presented herein. The following table summarizes the preliminary acquisition consideration and the related fair values of the assets acquired and liabilities assumed (in thousands): Purchase Consideration Net Tangible Assets Acquired/ (Liabilities Assumed) Identifiable Intangible Assets Goodwill Goodwill Deductible for Taxes (1) Acquisition Related Expenses Ubimo $ 20,740 $ 384 $ 10,750 $ 9,606 Not $ 579 Elevaate 13,346 (60 ) 3,781 9,625 Not 549 SavingStar 7,485 (1,126 ) 2,577 6,034 Not Deductible 556 Ahalogy 36,432 2,196 11,580 22,656 Not Deductible 684 $ 78,003 $ 1,394 $ 28,688 $ 47,921 $ 2,368 (1) Expensed as general and administrative The following sets forth each component of identifiable intangible assets acquired in connection with the acquisitions (in thousands): Ubimo Estimated Useful Life (in Years) Elevaate Estimated Useful Life (in Years) SavingStar Estimated Useful Life (in Years) Ahalogy Estimated Useful Life (in Years) Developed technologies $ 7,100 4.0 $ 3,307 5.0 $ 1,476 3.0 $ 3,100 4.0 Customer relationships 3,400 2.0 379 5.0 1,040 3.0 6,210 6.0 Trade names 250 4.0 95 3.0 61 1.5 650 4.0 Vendor relationships — — — — — — 1,620 2.0 Total identifiable intangible assets $ 10,750 $ 3,781 $ 2,577 $ 11,580

Intangible Assets

Intangible Assets	6 Months Ended
	Jun. 30, 2020
Goodwill And Intangible Assets Disclosure [Abstract]
Intangible Assets	7. Intangible Assets The following table summarizes the gross carrying amount and accumulated amortization for the intangible assets (in thousands): June 30, 2020 Gross Accumulated Amortization Net Weighted Average Amortization Period (Years) Media service rights $ 34,684 $ (20,756 ) $ 13,928 1.8 Promotion service rights 30,548 (13,525 ) 17,023 3.1 Developed technologies 27,170 (16,069 ) 11,101 2.8 Customer relationships 22,690 (14,263 ) 8,427 3.0 Data access rights 10,801 (7,355 ) 3,446 1.8 Domain names 5,948 (5,573 ) 375 0.3 Trade names 2,823 (1,888 ) 935 1.8 Vendor relationships 2,510 (2,510 ) — 0.0 Patents 975 (891 ) 84 2.3 Registered users 420 (420 ) — 0.0 $ 138,569 $ (83,250 ) $ 55,319 2.6 December 31, 2019 Gross Accumulated Amortization Net Weighted Average Amortization Period (Years) Media service rights $ 34,684 $ (16,098 ) $ 18,586 2.2 Promotion service rights 30,548 (10,682 ) 19,866 3.6 Developed technologies 27,170 (12,790 ) 14,380 3.2 Customer relationships 22,690 (12,267 ) 10,423 3.3 Data access rights 10,801 (6,415 ) 4,386 2.3 Domain names 5,948 (5,540 ) 408 0.8 Trade names 2,823 (1,560 ) 1,263 2.2 Vendor relationships 2,510 (2,172 ) 338 0.4 Patents 975 (873 ) 102 2.8 Registered users 420 (420 ) — 0.0 $ 138,569 $ (68,817 ) $ 69,752 3.0 As of June 30, 2020 and December 31, 2019, the Company has a domain name with a gross value of $0.4 million with an indefinite useful life that is not subject to amortization. Intangible assets subject to amortization are amortized over their useful lives as shown in the table above. Amortization expense related to intangible assets subject to amortization was $7.1 million and $14.4 million during the three and six months ended June 30, 2020, respectively, and $6.0 million and $11.9 million during the three and six months ended June 30, 2019, respectively. Estimated future amortization expense related to intangible assets as of June 30, 2020 is as follows (in thousands): Total 2020, remaining six months $ 13,096 2021 21,001 2022 13,419 2023 6,642 2024 809 2025 and beyond — Total estimated amortization expense $ 54,967 As of June 30, 2020, the Company performed an analysis of the impact of recent events, including business and market disruption caused by COVID-19, on the fair values of its intangible assets, and determined that an impairment does not exist. However, there can be no assurances that intangible assets will not be impaired in future periods and the Company will continue to monitor the operating results, cash flow forecasts and challenges from declines in current market conditions, as well as impacts of COVID-19 for these intangible assets.

Debt Obligations

Debt Obligations	6 Months Ended
	Jun. 30, 2020
Debt Disclosure [Abstract]
Debt Obligations	8. Debt Obligations 2017 Convertible Senior Notes In November 2017, the Company issued and sold $200.0 million aggregate principal amount of 1.75% convertible senior notes due 2022 in a private placement to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended, (the “notes”). The notes are unsecured obligations of the Company and bear interest at a fixed rate of 1.75% per annum, payable semi-annually in arrears on June 1 and December 1 of each year, commencing on June 1, 2018. The total net proceeds from the debt offering, after deducting transaction costs, were approximately $193.8 million. The conversion rate for the notes is initially 57.6037 shares of the Company’s common stock per $1,000 principal amount of notes, which is equivalent to an initial conversion price of approximately $17.36 per share of common stock, subject to adjustment upon the occurrence of specified events. Holders of the notes may convert their notes at their option at any time prior to the close of business on the business day immediately preceding September 1, 2022, only under the following circumstances: (1) during any calendar quarter commencing after the calendar quarter ending on March 31, 2018 (and only during such calendar quarter), if the last reported sale price of the Company’s common stock for at least 20 trading days (whether or not consecutive) during a period of 30 consecutive trading days ending on, and including, the last trading day of the immediately preceding calendar quarter is greater than or equal to 130% of the conversion price on each applicable trading day; (2) during the five-business day period after any five consecutive trading day period (the “measurement period”) in which the trading price per $1,000 principal amount of notes for each trading day of the measurement period was less than 98% of the product of the last reported sale price of the Company’s common stock and the conversion rate for the notes on each such trading day; (3) if the Company calls any or all of the notes for redemption, at any time prior to the close of business on the scheduled trading day immediately preceding the redemption date; or (4) upon the occurrence of specified corporate events. On or after September 1, 2022, holders may convert all or any portion of their notes at any time prior to the close of business on the scheduled trading day immediately preceding the maturity date regardless of the foregoing conditions. Upon conversion, the Company will pay or deliver, as the case may be, cash, shares of its common stock or a combination of cash and shares of its common stock, at its election. The Company intends to settle the principal amount of the notes with cash. The Company may not redeem the notes prior to December 5, 2020. It may redeem for cash all or any portion of the notes, at its option, on or after December 5, 2020 if the last reported sale price of its common stock has been at least 130% of the conversion price then in effect for at least 20 trading days (whether or not consecutive) during any 30 consecutive trading day period (including the last trading day of such period) ending not more than three trading days preceding the date on which it provides notice of redemption at a redemption price equal to 100% of the principal amount of the notes to be redeemed, plus accrued and unpaid interest to, but excluding, the redemption date. No sinking fund is provided for the notes. If the Company undergoes a fundamental change prior to the maturity date, holders may require the Company to repurchase for cash all or any portion of their notes at a fundamental change repurchase price equal to 100% of the principal amount of the notes to be repurchased, plus accrued and unpaid interest to, but excluding, the fundamental change repurchase date. In accounting for the issuance of the notes, the Company separated the notes into liability and equity components. The carrying amount of the liability component of $149.3 million was calculated by measuring the fair value of a similar debt instrument that does not have an associated convertible feature. The carrying amount of the equity component of $50.7 million, representing the conversion option, was determined by deducting the fair value of the liability component from the par value of the notes. The excess of the principal amount of the liability component over its carrying amount (“debt discount”) is amortized to interest expense over the term of the notes at an effective interest rate of 5.8%. The Company allocated the total debt issuance costs incurred of $6.2 million to the liability and equity components of the notes in proportion to the respective values. Issuance costs attributable to the liability component of $4.6 million are being amortized to interest expense using the effective interest method over the contractual terms of the notes. Issuance costs attributable to the equity component of $1.6 million were netted with the equity component in additional paid-in capital. The net carrying amount of the liability component of the notes recorded in convertible senior notes, net on the condensed consolidated balance sheets was as follows (in thousands): June 30, December 31, 2020 2019 Principal $ 200,000 $ 200,000 Unamortized debt discount (26,162 ) (31,132 ) Unamortized debt issuance costs (2,249 ) (2,711 ) Net carrying amount of the liability component $ 171,589 $ 166,157 The net carrying amount of the equity component of the notes recorded in additional paid-in capital on the condensed consolidated balance sheets was $49.1 million, net of debt issuance costs of $1.6 million as of June 30, 2020 and December 31, 2019. The following table sets forth the interest expense related to the notes recognized in interest expense on the condensed consolidated statements of operations (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 Contractual interest expense $ 875 $ 875 $ 1,750 $ 1,750 Amortization of debt discount 2,503 2,362 4,970 4,690 Amortization of debt issuance costs 231 230 462 460 Total interest expense related to the Notes $ 3,609 $ 3,467 $ 7,182 $ 6,900

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
	Jun. 30, 2020
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Stock-Based Compensation	9. Stock-based Compensation 2013 Equity Incentive Plan In October 2013, the Company adopted the 2013 Equity Incentive Plan (the “2013 Plan”), which became effective in March 2014 and serves as the successor to the Company’s 2006 Stock Plan (the “2006 Plan”). Pursuant to the 2013 Plan, 4,000,000 shares of common stock were initially reserved for grant, plus (1) any shares that were reserved and available for issuance under the 2006 Plan at the time the 2013 Plan became effective, (2) any shares that become available upon forfeiture or repurchase by the Company under the 2006 Plan and (3) any shares added to the 2013 Plan pursuant to the next paragraph. Under the 2013 Plan, the Company may grant stock options, stock appreciation rights, restricted stock and restricted stock units (“RSUs”), performance-based stock and units to employees, directors and consultants. The shares available will be increased at the beginning of each year by the lesser of (i) 4% of outstanding common stock on the last day of the immediately preceding year, or (ii) such number determined by the Board of Directors and subject to additional restrictions relating to the maximum number of shares issuable pursuant to incentive stock options. Under the 2013 Plan, both the ISOs and NSOs are granted at a price per share not less than 100% of the fair market value on the effective date of the grant. The Board of Directors determines the vesting period for each option award on the grant date, and the options generally expire 10 years from the grant date or such shorter term as may be determined by the Board of Directors. Stock Options The fair value of each option was estimated using the Black-Scholes model on the date of grant for the periods presented using the following assumptions: Six Months Ended June 30, 2020 2019 Expected life (in years) 6.02 6.02 Risk-free interest rate 0.96% 2.66% Volatility 50% 50% Dividend yield — — There were no option grants during the three months ended June 30, 2020 and 2019. The weighted-average grant date fair value of options was $4.26 and $5.01 per share during the six months ended June 30, 2020 and 2019, respectively. Restricted Stock Units and Performance-Based Restricted Stock Units The fair value of RSUs equals the market value of the Company’s common stock on the date of the grant. The RSUs are excluded from issued and outstanding shares until they are vested. A summary of the Company’s stock option and RSU award activity under the 2013 Plan is as follows: RSUs Outstanding Options Outstanding Shares Available for Grant Number of Shares Weighted Average Grant Date Fair Value Number of Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Term (Years) Aggregate Intrinsic Value (in thousands) Balance as of December 31, 2019 6,036,180 5,022,675 $ 10.66 8,600,441 $ 11.40 5.16 $ 8,811 Increase in shares authorized 3,574,847 — — — — — — Options granted (1,150,178 ) — — 1,150,178 $ 8.95 — — Options exercised — — — (62,157 ) $ 7.78 — $ 151 Options canceled or expired 673,266 — — (673,266 ) $ 11.91 — — RSUs granted (1,771,870 ) 1,771,870 $ 8.03 — — — — RSUs vested — (1,150,579 ) $ 11.04 — — — — RSUs canceled or expired 600,420 (600,420 ) $ 11.11 — — — — RSUs vested and withheld for taxes 387,069 — — — — — — Balance as of June 30, 2020 8,349,734 5,043,546 $ 9.60 9,015,196 $ 11.07 5.37 $ 1,526 Vested and exercisable as of June 30, 2020 5,436,103 $ 12.39 3.59 $ 1,526 The aggregate intrinsic value disclosed in the table above is based on the difference between the exercise price of the options and the fair value of the Company’s common stock. The aggregate total fair value of options vested was $1.5 million and $2.9 million during the three and six months ended June 30, 2020, respectively and $1.7 million and $3.0 million during the three and six months ended June 30, 2019, respectively. Employee Stock Purchase Plan The Company’s Board of Directors adopted the 2013 Employee Stock Purchase Plan (“ESPP”), which became effective in March 2014. Eligible employees can enroll and elect to contribute up to 15% of their base compensation through payroll withholdings in each offering period which is six months in duration, subject to certain limitations. The fair value of the option feature is estimated using the Black-Scholes model for the period presented based on the following assumptions: Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 Expected life (in years) 0.50 0.50 0.50 0.50 Risk-free interest rate 0.15% 2.43% 0.15% - 1.59% 2.43% - 2.50% Volatility 60% 35% 55% - 60% 35% Dividend yield — — — — As of June 30, 2020, a total of 1,667,810 shares of common stock were issued under the ESPP since inception of the plan. As of June 30, 2020, a total of 1,932,190 shares are available for issuance under the ESPP. Stock-based Compensation Expense The following table sets forth the total stock-based compensation expense resulting from stock options, RSUs and ESPP included in the Company’s condensed consolidated statements of operations (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 Cost of revenues $ 387 $ 562 $ 822 $ 1,164 Sales and marketing 1,323 1,825 2,725 3,563 Research and development 839 1,073 1,720 2,439 General and administrative 4,457 4,576 9,265 8,918 Total stock-based compensation expense $ 7,006 $ 8,036 $ 14,532 $ 16,084 As of June 30, 2020, there was $57.5 million of unrecognized stock-based compensation expense, of which $14.8 million is related to stock options and ESPP shares and $42.7 million is related to RSUs. The total unrecognized stock-based compensation expense related to stock options and ESPP as of June 30, 2020 will be amortized over a weighted-average period of 2.85 years. The total unrecognized stock-based compensation expense related to RSUs as of June 30, 2020 will be amortized over a weighted-average period of 2.62 years. During the three and six months ended June 30, 2020, the Company capitalized $0.1 million and $0.2 million, respectively, and $0.1 million and $0.2 million during the three and six months ended June 30, 2019, respectively, of stock-based compensation expense in projects in process as part of property and equipment, net on the accompanying condensed consolidated balance sheets.

Common Stock Repurchase Program

Common Stock Repurchase Programs	6 Months Ended
	Jun. 30, 2020
Common Stock Repurchase Program [Abstract]
Common Stock Repurchase Programs	10. Common Stock Repurchase Programs The Board of Directors previously approved programs for the Company to repurchase shares of its common stock. In August 2019, the Company’s Board of Directors authorized a one-year

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2020
Income Tax Disclosure [Abstract]
Income Taxes	11. Income Taxes The Company recorded a benefit from income taxes of $35 thousand and a provision for income taxes of $0.2 million during the three and six months ended June 30, 2020, respectively, and a provision for income taxes of $0.1 million and $0.2 million during the three and six months ended June 30, 2019, respectively. The benefit from and provision for income taxes for the three and six months ended June 30, 2020, respectively, was primarily attributable to the Company’s foreign operations, federal and state taxes, and amortization of tax deductible goodwill from prior year acquisitions. The provision for income taxes for the three and six months ended June 30, 2019 was primarily attributable to the Company’s foreign operations and amortization of tax deductible goodwill from prior year acquisitions.

Net Loss Per Share

Net Loss Per Share	6 Months Ended
	Jun. 30, 2020
Earnings Per Share [Abstract]
Net Loss Per Share	12. Net Loss Per Share The computation of the Company’s basic and diluted net loss per share is as follows (in thousands, except per share data): Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 Net loss $ (19,133 ) $ (3,906 ) $ (35,858 ) $ (17,134 ) Weighted-average number of common shares used in computing net loss per share, basic and diluted 90,112 92,558 89,875 93,406 Net loss per share, basic and diluted $ (0.21 ) $ (0.04 ) $ (0.40 ) $ (0.18 ) The outstanding common equivalent shares excluded from the computation of the diluted net loss per share for the periods presented because including them would have been antidilutive are as follows (in thousands): Three and Six Months Ended June 30, 2020 2019 Stock options and ESPP 9,082 7,581 Restricted stock units 5,044 5,415 Shares related to convertible senior notes 11,521 11,521 25,647 24,517

Leases

Leases	6 Months Ended
	Jun. 30, 2020
Leases [Abstract]
Leases	13. Leases The Company has entered into operating leases primarily for office facilities. These leases have terms which typically range from 1 year to 10 years, and often include options to renew. These renewal terms can extend the lease term up to 6 years, and are included in the lease term when it is reasonably certain that the Company will exercise the option. T The Company has entered into short-term leases primarily for office facilities with an initial term of twelve months or less, and a professional sports team suite with a 20-year term, which it uses for sales and marketing purposes. The effective lease term for the professional sports team suite is based on the cumulative All operating lease expense is recognized on a straight-line basis over the lease term . During the three and six months ended June 30, 2020, the Company recognized $1.2 million and $2.3 million, respectively, in total lease costs, which is comprised of $1.0 million and $1.7 million, respectively, in operating lease costs for right-of-use assets and $0.2 million and $0.5 million, respectively, in short-term lease costs related to short-term operating leases. During the three and six months ended June 30, 2019, the Company recognized $0.9 million and $1.8 million, respectively, in total lease costs, which is comprised of $0.8 million and $1.6 million, respectively in operating lease costs for right-of-use assets and $0.1 million and $0.2 million, respectively, in short-term lease costs related to short-term operating leases. Because the rate implicit in each lease is not readily determinable, the Company uses its incremental borrowing rate to determine the present value of the lease payments. The Company has certain contracts for office facilities which may contain lease and non-lease components which it has elected to be treated as a single lease component due to the accounting policy election as discussed under Note 2 to the condensed consolidated financial statements. Supplemental cash flow information related to operating leases was as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 Cash paid for operating lease liabilities $ 936 $ 1,469 $ 1,910 $ 2,817 Right-of-use assets obtained in exchange for lease obligations 11,084 — 11,084 12,955 Supplemental balance sheet information related to operating leases was as follows (in thousands, except lease term and discount rate): June 30, 2020 December 31, 2019 Operating right-of-use assets reported as: Operating lease right-of-use assets $ 16,851 $ 7,211 Operating lease liabilities reported as: Other current liabilities $ 3,039 $ 3,168 Other non-current liabilities 16,642 6,692 Total operating lease liabilities $ 19,681 $ 9,860 Weighted average remaining lease term (in years) 7.6 3.9 Weighted average discount rate 6.0 % 7.9 % Maturities of operating lease liabilities were as follows (in thousands): Operating Leases 2020, remaining six months $ 2,178 2021 3,699 2022 3,440 2023 3,484 2024 2,874 2025 and thereafter 9,279 Total lease payments $ 24,954 Less: Imputed Interest (5,273 ) Total $ 19,681

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2020
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	14. Commitments and Contingencies Purchase Obligations The Company has unconditional purchase commitments, primarily related to distribution fees, software license fees and marketing services, of $33.6 million as of June 30, 2020. Some of the Company’s agreements with retailers include certain prepaid or guaranteed distribution fees. If the Company does not meet contractual minimums, these prepaid or guaranteed distribution fees may not be recoverable, and any shortfall may be payable by us at the end of the applicable period. Implementation of one of the Company’s solutions with a retailer experienced slower than expected adoption due to a variety of factors, including impacts related to the spread of COVID-19 and their failure to perform certain obligations under the agreement. If the contractual minimum remains enforceable in light of these factors, and the Company is unable to meet the minimum under such arrangement at the end of the applicable period, which is scheduled to occur in the fourth quarter of 2020, the Company may recognize a loss that, depending on a variety of factors, could be as high as the high single digit millions. Indemnification In the normal course of business, to facilitate transactions related to the Company’s operations, the Company indemnifies certain parties, including CPGs, advertising agencies, retailers and other third parties. The Company has agreed to hold certain parties harmless against losses arising from claims of intellectual property infringement or other liabilities relating to or arising from our products or services or other contractual infringement. The term of these indemnity provisions generally survive termination or expiration of the applicable agreement. To date, the Company has not recorded any liabilities related to these agreements. Litigation In the ordinary course of business, the Company may be involved in lawsuits, claims, investigations, and proceedings consisting of intellectual property, commercial, employment, and other matters. The Company records a provision for these claims when it is both probable that a liability has been incurred and the amount of the loss, or a range of the potential loss, can be reasonably estimated. These provisions are reviewed regularly and adjusted to reflect the impacts of negotiations, settlements, rulings, advice of legal counsel, and other information or events pertaining to a particular case. In the event that one or more of these matters were to result in a claim against the Company, an adverse outcome, including a judgment or settlement, may cause a material adverse effect on the Company’s future business, operating results, or financial condition. The Company believes that liabilities associated with existing claims are remote, therefore the Company has not recorded any accrual for existing claims as of June 30, 2020 and December 31, 2019. The Company expenses legal fees in the period in which they are incurred.

Employee Benefit Plan

Employee Benefit Plan	6 Months Ended
	Jun. 30, 2020
Compensation And Retirement Disclosure [Abstract]
Employee Benefit Plan	15. Employee Benefit Plan The Company maintains a defined-contribution plan under Section 401(k) of the Internal Revenue Code. The 401(k) plan provides retirement benefits for eligible employees. Eligible employees may elect to contribute to the 401(k) plan. The Company provides a match of up to the lesser of 3% of each employee’s annual salary or $6,000, which vests immediately for employees with tenure of over a year. Previously, the Company’s 401(k) plan contributions vest over four years after continuous employment. The Company’s matching contribution expense was $0.5 million and $1.2 million during the three and six months ended June 30, 2020, respectively and $0.1 million and $0.8 million during the three and six months ended June 30, 2019, respectively.

Information About Geographic Ar

Information About Geographic Areas	6 Months Ended
	Jun. 30, 2020
Segments Geographical Areas [Abstract]
Information About Geographic Areas	16. Information About Geographic Areas Revenues generated outside of the United States were insignificant for all periods presented. Additionally, as the Company’s assets are primarily located in the United States, information regarding geographical location is not presented, as such amounts are immaterial to these condensed consolidated financial statements taken as a whole.

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2020
Subsequent Events [Abstract]
Subsequent Events	17. Subsequent Events Lease Amendment On August 3, 2020, the Company entered into the Third Amendment (“Lease Amendment”) to the Lease Agreement with MG 400 Logue LLC, a Delaware limited liability company, effective August 3, 2020, pursuant to which it extended the lease for its principal executive office through December 31, 2021. Under the Lease Amendment, the Company also agreed to pay a basic annual rent of $1.2 million for the period of January 1, 2021 to December 31, 2021. A complete copy of the Lease Amendment is filed herewith as part of this Quarterly Report on Form 10-Q. Transition of Chief Operating Officer On July 31, 2020, Chad Summe transitioned out of his role as Chief Operating Officer (“COO”) to become the Company’s Chief Strategy Officer.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2020
Accounting Policies [Abstract]
Basis of Presentation and Consolidation	Basis of Presentation and Consolidation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) and applicable rules and regulations of the Securities and Exchange Commission (“SEC”) regarding interim financial reporting. Certain information and note disclosures normally included in the financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to such rules and regulations. As such, the information included in this Quarterly Report on Form 10-Q should be read in conjunction with the audited consolidated financial statements and accompanying notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2019. The Company’s condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All significant intercompany transactions and balances have been eliminated. The accompanying unaudited condensed consolidated financial statements reflect all normal recurring adjustments necessary to present fairly the financial position, results of operations, comprehensive loss, and cash flows for the interim periods, but are not necessarily indicative of the results of operations to be anticipated for the full year ending December 31, 2020 or for any other period. Certain prior period amounts on the condensed consolidated balance sheets have been reclassified to conform to the current period’s presentation. There have been no significant changes to the Company’s significant accounting policies described in the Annual Report on Form 10-K that have had a material impact on its condensed consolidated financial statements and related notes.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported and disclosed in the Company’s condensed consolidated financial statements and accompanying notes. Such management estimates include, but are not limited to, revenue recognition, collectability of accounts receivable, coupon code sales return reserve, valuation of assets acquired and liabilities assumed in a business combination, useful lives of intangible assets, estimates related to recovery of long-lived assets and goodwill, measurement of contingent consideration, restructuring accruals, debt discounts, stock-based compensation, deferred income tax assets and associated valuation allowances and distribution fee commitments. These estimates generally require judgments, may involve the analysis of historical and prediction of future trends, and are subject to change from period to period. Actual results may differ from the Company’s estimates, and such differences may be material to the accompanying condensed consolidated financial statements. The COVID-19 pandemic has created and may continue to create significant uncertainty in macroeconomic conditions, which may cause further business slowdowns or shutdowns, depress demand for the Company’s advertising business, and adversely impact the Company’s results of operations. The Company expects uncertainties around its key accounting estimates to continue to evolve depending on the duration and degree of impact associated with the COVID-19 pandemic . The Company’s estimates may change as new events occur and additional information emerges, and such changes are recognized or disclosed in its condensed consolidated financial statements.
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements Accounting Pronouncements Adopted Credit Losses Topic 326: I The Company adopted ASU 2016-13 on January 1, 2020 and the impact of the adoption was not material to the Company’s condensed consolidated financial statements and related disclosures.
Revenue Recognition	Revenue Recognition The Company primarily generates revenue by providing digital promotions and media solutions to its customers and partners. Revenues are recognized when control of the promised goods or services is transferred to the Company’s customers, in an amount that reflects the consideration the Company expects to be entitled to in exchange for those goods or services. We determine revenue recognition through the following steps: • Identification of the contract, or contracts, with a customer • Identification of the performance obligations in the contract • Determination of the transaction price • Allocation of the transaction price to the performance obligations in the contract • Recognition of revenue when, or as, we satisfy a performance obligation The Company provides digital promotions, including digital coupons, and/or media programs to its customers which consists of CPG customers, retail partners and advertising agencies whereby it uses its proprietary technology platforms to create, target, and deliver these programs. The Company typically generates revenue from its customers through the use of these programs on a cost-per-click, cost-per-impression, or cost-per-acquisition basis. Programs usually include a limit on the number of clicks and/or impressions and are billed monthly. The pricing of digital promotions programs typically includes both promotion setup fees and promotion campaign fees. Promotion setup fees are related to the creation of digital promotions and set up of the underlying campaign on Quotient’s proprietary platform for tracking of the related clicks. The Company recognizes revenues related to promotion setup fees over time, proportionally, on a per click basis, using the number of authorized clicks, per insertion order, commencing on the date of the first click. A click refers to the consumers action of activating a digital promotion through the Company’s proprietary technology platform by either saving it to a retailer’s loyalty account for automatic digital redemption, or printing it for physical redemption at a retailer. Promotion campaign fees are usually determined on a per click basis. The Company typically recognizes revenues for digital promotion campaign fees as clicks occur. The Company’s media programs enable CPGs and retailers to distribute digital media to promote their brands and products on its retailers’ websites, and mobile apps, and through a network of affiliate publishers and non-publisher third parties that display its media offerings on their websites or mobile apps. Pricing for media campaigns is usually determined on a cost-per-impression, cost-per-click or cost-per-acquisition basis. The Company recognizes revenue each time a digital media ad is displayed or each time a user clicks on the media ad displayed on the Company’s websites, mobile apps or on third-party websites. Digital promotion programs also include the Company’s Specialty Retail business, in which specialty stores including clothing, electronics, home improvement and others, and coupon code offers. Each time a consumer makes a purchase using a coupon code, a fee is typically paid to the Company. The Company usually generates revenues when a consumer makes a purchase using a coupon code from its platform and completion of the order is reported to the Company. In the same period that the Company recognizes revenues for the delivery of coupon codes, it also estimates and records a reserve, based upon historical experience, to provide for end-user cancelations or product returns which may not be reported until a subsequent date.
Gross Versus Net Revenue Reporting	Gross Versus Net Revenue Reporting In the normal course of business and through its distribution network, the Company delivers digital promotions and media on retailers’ websites through retailers’ loyalty programs, and on the websites of digital publishers. In these situations, the Company evaluates whether it is the principal (i.e., report revenues on a gross basis) or agent (i.e., report revenues on a net basis). The Company reports certain digital promotion and media advertising revenues for campaigns placed on third-party owned properties on a gross basis, that is, the amounts billed to its customers are recorded as revenues, and distribution fees paid to retailers or digital publishers are recorded as cost of revenues. The Company is the principal because it controls the digital promotion and media advertising inventory before it is transferred to its customers. The Company’s control is evidenced by its sole ability to monetize the digital coupon and media advertising inventory, being primarily responsible to its customers, having discretion in establishing pricing for the delivery of the digital promotions and media, or a combination of these. In other cases, the Company reports certain digital media advertising revenues on a net basis, that is, the costs for digital advertising inventory and third-party data paid to suppliers are deducted from gross revenues to arrive at net revenues. The Company’s performance obligation in these arrangements is to provide the use of its platforms
Arrangements with Multiple Performance Obligations	Arrangements with Multiple Performance Obligations The Company’s contracts with customers may include multiple performance obligations. For these contracts, the Company accounts for individual performance obligations separately if they are distinct. The transaction price is allocated to the separate performance obligations on a relative standalone selling price basis. The Company determines its best estimate of its standalone selling prices based on its overall pricing objectives, taking into consideration market conditions and other factors, including the value of its contracts and characteristics of targeted customers.
Accounts Receivable, Net of Allowance for Credit Losses	Accounts Receivables, Net of Allowance for Credit Losses Trade and other receivables are included in accounts receivables and primarily comprised of trade receivables that are recorded at invoiced amounts, net of an allowance for credit losses and do not bear interest. Other receivables included unbilled receivables related to digital promotions and media advertising contracts with customers. The Company generally does not require collateral and performs ongoing credit evaluations of its customers and maintains allowances for potential credit losses. The Company maintains an allowance for credit losses based upon the expected collectability of its accounts receivable. The Company assesses collectability by reviewing accounts receivable on a collective basis where similar characteristics exist and on an individual basis when we identify specific customers with known disputes or collectability issues. In determining the amount of the allowance for credit losses, the Company reviewed credit profiles of its customers, contractual terms and conditions, current economic trends, reasonable and supportable forecasts of future economic conditions, and historical payment experience. For the three and six months ended June 30, 2020, the Company’s assessment considered business and market disruptions caused by COVID-19 and estimates of expected emerging credit and collectability trends. The continued volatility in market conditions and evolving shifts in credit trends are difficult to predict causing variability and volatility that may have a material impact on our allowance for credit losses in future periods.
Deferred Revenues	Deferred Revenues Deferred revenues consist of promotion setup fees, promotion campaign fees and digital media fees that are expected to be recognized upon click, or delivery of media impressions, which generally occur within the next twelve months. The Company records deferred revenues, including amounts which are refundable, when cash payments are received or become due in advance of the Company satisfying its performance obligations. The increase in the deferred revenue balance for the six months ended June 30, 2020 is primarily driven by cash payments received or due in advance of satisfying the Company’s performance obligations of $13.9 million, partially offset by $11.8 million of recognized revenue. The Company’s payment terms vary by the type and size of its customers. For certain products or services and customer types, we require payment before the products or services are delivered to the customer.
Disaggregated Revenue	Disaggregated Revenue The following table presents the Company’s revenues disaggregated by type of services (in thousands, unaudited). The majority of the Company’s revenue is generated from sales in the United States. Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 Promotion $ 46,627 $ 57,551 $ 106,338 $ 121,118 Media 36,828 47,140 75,904 81,680 Total Revenue $ 83,455 $ 104,691 $ 182,242 $ 202,798
Practical Expedients and Exemptions	Practical Expedients and Exemptions The Company does not disclose the value of unsatisfied performance obligations for (i) contracts with an original expected length of one year or less and (ii) contracts for which it recognizes revenue for an amount where it has the right to invoice for services performed.
Sales Commissions	Sales Commissions The Company generally incurs and expenses sales commissions upon recognition of revenue for related goods and services, which typically occurs within one year or less. Sales commissions earned related to revenues for initial contracts are commensurate with sales commissions related to renewal contracts. These costs are recorded within sales and marketing expenses on the condensed consolidated statements of operations.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	6 Months Ended
	Jun. 30, 2020
Accounting Policies [Abstract]
Summary of Revenues Disaggregated by Type of Services	The following table presents the Company’s revenues disaggregated by type of services (in thousands, unaudited). The majority of the Company’s revenue is generated from sales in the United States. Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 Promotion $ 46,627 $ 57,551 $ 106,338 $ 121,118 Media 36,828 47,140 75,904 81,680 Total Revenue $ 83,455 $ 104,691 $ 182,242 $ 202,798

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2020
Fair Value Disclosures [Abstract]
Financial Assets and Liabilities Measured at Fair Value on Recurring Basis	The Company’s fair value hierarchy for its financial assets and liabilities that are measured at fair value on a recurring basis are as follows (in thousands): June 30, 2020 Level 1 Level 2 Level 3 Total Assets: Cash equivalents: Money market funds $ 104,907 — — $ 104,907 U.S. Treasury Bills — — — — Total $ 104,907 $ — $ — $ 104,907 Liabilities: Contingent consideration related to acquisitions — — 13,446 13,446 Total $ — $ — $ 13,446 $ 13,446 December 31, 2019 Level 1 Level 2 Level 3 Total Assets: Cash equivalents: Money market funds $ 124,303 — — $ 124,303 U.S. Treasury Bills 15,120 — — 15,120 Total $ 139,423 $ — $ — $ 139,423 Liabilities: Contingent consideration related to acquisitions — — 36,220 36,220 Total $ — $ — $ 36,220 $ 36,220
Summary of Changes in Contingent Consideration	The following table represents the change in the contingent consideration (in thousands): Three Months Ended June 30, 2020 Six Months Ended June 30, 2020 Ubimo Elevaate Ahalogy Ubimo Elevaate Ahalogy Level 3 Level 3 Level 3 Level 3 Level 3 Level 3 Balance at the beginning of period $ 5,979 $ 3,701 $ — $ 5,686 $ 3,534 $ 27,000 Change in fair value during the period 4,260 (494 ) — 4,553 (327 ) — Payments made during the period — — — — — (27,000 ) Total $ 10,239 $ 3,207 $ — $ 10,239 $ 3,207 $ — Three Months Ended June 30, 2019 Six Months Ended June 30, 2019 Elevaate Ahalogy Elevaate Ahalogy Level 3 Level 3 Level 3 Level 3 Balance at the beginning of period $ 7,133 $ 24,893 $ 6,121 $ 22,842 Change in fair value during the period (4,118 ) 1,108 (3,106 ) 3,159 Total $ 3,015 $ 26,001 $ 3,015 $ 26,001

Allowance for Credit Losses (Ta

Allowance for Credit Losses (Tables)	6 Months Ended
	Jun. 30, 2020
Credit Loss [Abstract]
Summary of Activity in Allowance for Credit Losses	The summary of activity in the allowance for credit losses is as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 Balance at the beginning of period $ 2,043 $ 1,331 $ 2,021 $ 1,200 Provision for expected credit losses 46 234 263 366 Write-offs charged against the allowance (10 ) (184 ) (205 ) (185 ) Balance at the end of period $ 2,079 $ 1,381 $ 2,079 $ 1,381

Balance Sheet Components (Table

Balance Sheet Components (Tables)	6 Months Ended
	Jun. 30, 2020
Balance Sheet Related Disclosures [Abstract]
Property and Equipment, Net	Property and equipment consist of the following (in thousands): June 30, 2020 December 31, 2019 Software $ 42,784 $ 41,876 Computer equipment 23,658 25,773 Leasehold improvements 5,855 5,883 Furniture and fixtures 2,473 2,449 Total 74,770 75,981 Accumulated depreciation and amortization (63,678 ) (63,543 ) Projects in process 4,248 1,266 Total property and equipment, net $ 15,340 $ 13,704
Accrued Compensation and Benefits	Accrued compensation and benefits consist of the following (in thousands): June 30, 2020 December 31, 2019 Commissions $ 2,784 $ 5,996 Payroll and related expenses 2,692 2,533 Bonus 1,405 5,997 Vacation 920 706 Total accrued compensation and benefits $ 7,801 $ 15,232
Other Current Liabilities	Other current liabilities consist of the following (in thousands): June 30, 2020 December 31, 2019 Distribution fees $ 17,925 $ 20,360 Traffic acquisition cost 8,303 5,278 Prefunded liability 5,042 5,429 Marketing expenses 3,624 2,164 Operating lease liabilities 3,039 3,168 Liability related to purchased intangible asset 1,000 1,000 Interest payable 282 282 Other 7,985 12,351 Total other current liabilities $ 47,200 $ 50,032

Acquisitions (Tables)

Acquisitions (Tables)	6 Months Ended
	Jun. 30, 2020
Business Combinations [Abstract]
Summary of Preliminary Acquisition Consideration and the Related Fair Values of Assets Acquired and Liabilities Assumed	The following table summarizes the preliminary acquisition consideration and the related fair values of the assets acquired and liabilities assumed (in thousands): Purchase Consideration Net Tangible Assets Acquired/ (Liabilities Assumed) Identifiable Intangible Assets Goodwill Goodwill Deductible for Taxes (1) Acquisition Related Expenses Ubimo $ 20,740 $ 384 $ 10,750 $ 9,606 Not $ 579 Elevaate 13,346 (60 ) 3,781 9,625 Not 549 SavingStar 7,485 (1,126 ) 2,577 6,034 Not Deductible 556 Ahalogy 36,432 2,196 11,580 22,656 Not Deductible 684 $ 78,003 $ 1,394 $ 28,688 $ 47,921 $ 2,368 (1) Expensed as general and administrative
Component of Identifiable Intangible Assets	The following sets forth each component of identifiable intangible assets acquired in connection with the acquisitions (in thousands): Ubimo Estimated Useful Life (in Years) Elevaate Estimated Useful Life (in Years) SavingStar Estimated Useful Life (in Years) Ahalogy Estimated Useful Life (in Years) Developed technologies $ 7,100 4.0 $ 3,307 5.0 $ 1,476 3.0 $ 3,100 4.0 Customer relationships 3,400 2.0 379 5.0 1,040 3.0 6,210 6.0 Trade names 250 4.0 95 3.0 61 1.5 650 4.0 Vendor relationships — — — — — — 1,620 2.0 Total identifiable intangible assets $ 10,750 $ 3,781 $ 2,577 $ 11,580

Intangible Assets (Tables)

Intangible Assets (Tables)	6 Months Ended
	Jun. 30, 2020
Goodwill And Intangible Assets Disclosure [Abstract]
Summary of Gross Carrying Amount and Accumulated Amortization for Intangible Assets Intangible Assets	The following table summarizes the gross carrying amount and accumulated amortization for the intangible assets (in thousands): June 30, 2020 Gross Accumulated Amortization Net Weighted Average Amortization Period (Years) Media service rights $ 34,684 $ (20,756 ) $ 13,928 1.8 Promotion service rights 30,548 (13,525 ) 17,023 3.1 Developed technologies 27,170 (16,069 ) 11,101 2.8 Customer relationships 22,690 (14,263 ) 8,427 3.0 Data access rights 10,801 (7,355 ) 3,446 1.8 Domain names 5,948 (5,573 ) 375 0.3 Trade names 2,823 (1,888 ) 935 1.8 Vendor relationships 2,510 (2,510 ) — 0.0 Patents 975 (891 ) 84 2.3 Registered users 420 (420 ) — 0.0 $ 138,569 $ (83,250 ) $ 55,319 2.6 December 31, 2019 Gross Accumulated Amortization Net Weighted Average Amortization Period (Years) Media service rights $ 34,684 $ (16,098 ) $ 18,586 2.2 Promotion service rights 30,548 (10,682 ) 19,866 3.6 Developed technologies 27,170 (12,790 ) 14,380 3.2 Customer relationships 22,690 (12,267 ) 10,423 3.3 Data access rights 10,801 (6,415 ) 4,386 2.3 Domain names 5,948 (5,540 ) 408 0.8 Trade names 2,823 (1,560 ) 1,263 2.2 Vendor relationships 2,510 (2,172 ) 338 0.4 Patents 975 (873 ) 102 2.8 Registered users 420 (420 ) — 0.0 $ 138,569 $ (68,817 ) $ 69,752 3.0
Estimated Amortization of Intangible Assets	Estimated future amortization expense related to intangible assets as of June 30, 2020 is as follows (in thousands): Total 2020, remaining six months $ 13,096 2021 21,001 2022 13,419 2023 6,642 2024 809 2025 and beyond — Total estimated amortization expense $ 54,967

Debt Obligations (Tables)

Debt Obligations (Tables)	6 Months Ended
	Jun. 30, 2020
Debt Disclosure [Abstract]
Schedule of Net Carrying Amount of Liability Component	The net carrying amount of the liability component of the notes recorded in convertible senior notes, net on the condensed consolidated balance sheets was as follows (in thousands): June 30, December 31, 2020 2019 Principal $ 200,000 $ 200,000 Unamortized debt discount (26,162 ) (31,132 ) Unamortized debt issuance costs (2,249 ) (2,711 ) Net carrying amount of the liability component $ 171,589 $ 166,157
Schedule of Interest Expense	The following table sets forth the interest expense related to the notes recognized in interest expense on the condensed consolidated statements of operations (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 Contractual interest expense $ 875 $ 875 $ 1,750 $ 1,750 Amortization of debt discount 2,503 2,362 4,970 4,690 Amortization of debt issuance costs 231 230 462 460 Total interest expense related to the Notes $ 3,609 $ 3,467 $ 7,182 $ 6,900

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2020
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Summary of Assumptions Used to Estimate the Fair Value of Stock Options	The fair value of each option was estimated using the Black-Scholes model on the date of grant for the periods presented using the following assumptions: Six Months Ended June 30, 2020 2019 Expected life (in years) 6.02 6.02 Risk-free interest rate 0.96% 2.66% Volatility 50% 50% Dividend yield — —
Summary of Stock Option and Restricted Stock Units Award Activity	A summary of the Company’s stock option and RSU award activity under the 2013 Plan is as follows: RSUs Outstanding Options Outstanding Shares Available for Grant Number of Shares Weighted Average Grant Date Fair Value Number of Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Term (Years) Aggregate Intrinsic Value (in thousands) Balance as of December 31, 2019 6,036,180 5,022,675 $ 10.66 8,600,441 $ 11.40 5.16 $ 8,811 Increase in shares authorized 3,574,847 — — — — — — Options granted (1,150,178 ) — — 1,150,178 $ 8.95 — — Options exercised — — — (62,157 ) $ 7.78 — $ 151 Options canceled or expired 673,266 — — (673,266 ) $ 11.91 — — RSUs granted (1,771,870 ) 1,771,870 $ 8.03 — — — — RSUs vested — (1,150,579 ) $ 11.04 — — — — RSUs canceled or expired 600,420 (600,420 ) $ 11.11 — — — — RSUs vested and withheld for taxes 387,069 — — — — — — Balance as of June 30, 2020 8,349,734 5,043,546 $ 9.60 9,015,196 $ 11.07 5.37 $ 1,526 Vested and exercisable as of June 30, 2020 5,436,103 $ 12.39 3.59 $ 1,526
Summary of Assumptions Used to Estimate the Fair Value of Employee Stock Purchase Plan	The fair value of the option feature is estimated using the Black-Scholes model for the period presented based on the following assumptions: Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 Expected life (in years) 0.50 0.50 0.50 0.50 Risk-free interest rate 0.15% 2.43% 0.15% - 1.59% 2.43% - 2.50% Volatility 60% 35% 55% - 60% 35% Dividend yield — — — —
Schedule of Stock Based Compensation Expense	The following table sets forth the total stock-based compensation expense resulting from stock options, RSUs and ESPP included in the Company’s condensed consolidated statements of operations (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 Cost of revenues $ 387 $ 562 $ 822 $ 1,164 Sales and marketing 1,323 1,825 2,725 3,563 Research and development 839 1,073 1,720 2,439 General and administrative 4,457 4,576 9,265 8,918 Total stock-based compensation expense $ 7,006 $ 8,036 $ 14,532 $ 16,084

Net Loss Per Share (Tables)

Net Loss Per Share (Tables)	6 Months Ended
	Jun. 30, 2020
Earnings Per Share [Abstract]
Schedule of Computation of Basic and Diluted Net Loss Per Share	The computation of the Company’s basic and diluted net loss per share is as follows (in thousands, except per share data): Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 Net loss $ (19,133 ) $ (3,906 ) $ (35,858 ) $ (17,134 ) Weighted-average number of common shares used in computing net loss per share, basic and diluted 90,112 92,558 89,875 93,406 Net loss per share, basic and diluted $ (0.21 ) $ (0.04 ) $ (0.40 ) $ (0.18 )
Schedule of Outstanding Common Equivalent Shares Excluded from Computation of Diluted Net Loss Per Share	The outstanding common equivalent shares excluded from the computation of the diluted net loss per share for the periods presented because including them would have been antidilutive are as follows (in thousands): Three and Six Months Ended June 30, 2020 2019 Stock options and ESPP 9,082 7,581 Restricted stock units 5,044 5,415 Shares related to convertible senior notes 11,521 11,521 25,647 24,517

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jun. 30, 2020
Leases [Abstract]
Schedule of Supplemental Cash Flow Information Related to Operating Leases	Supplemental cash flow information related to operating leases was as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2020 2019 2020 2019 Cash paid for operating lease liabilities $ 936 $ 1,469 $ 1,910 $ 2,817 Right-of-use assets obtained in exchange for lease obligations 11,084 — 11,084 12,955
Supplemental Balance Sheet Information Related to Operating Leases	Supplemental balance sheet information related to operating leases was as follows (in thousands, except lease term and discount rate): June 30, 2020 December 31, 2019 Operating right-of-use assets reported as: Operating lease right-of-use assets $ 16,851 $ 7,211 Operating lease liabilities reported as: Other current liabilities $ 3,039 $ 3,168 Other non-current liabilities 16,642 6,692 Total operating lease liabilities $ 19,681 $ 9,860 Weighted average remaining lease term (in years) 7.6 3.9 Weighted average discount rate 6.0 % 7.9 %
Maturities of Operating Lease Liabilities	Maturities of operating lease liabilities were as follows (in thousands): Operating Leases 2020, remaining six months $ 2,178 2021 3,699 2022 3,440 2023 3,484 2024 2,874 2025 and thereafter 9,279 Total lease payments $ 24,954 Less: Imputed Interest (5,273 ) Total $ 19,681

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Additional Information (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items]
Deferred revenue due to performance obligations	$ 2,108	$ 1,616
ASU 2014-09
Basis Of Presentation And Summary Of Significant Accounting Policies [Line Items]
Deferred revenue, revenue recognized	11,800
Deferred revenue due to performance obligations	$ 13,900

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Summary of Revenues Disaggregated by Type of Services (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Disaggregation Of Revenue [Line Items]
Total Revenue	$ 83,455	$ 104,691	$ 182,242	$ 202,798
Promotion
Disaggregation Of Revenue [Line Items]
Total Revenue	46,627	57,551	106,338	121,118
Media
Disaggregation Of Revenue [Line Items]
Total Revenue	$ 36,828	$ 47,140	$ 75,904	$ 81,680

Fair Value Measurements - Finan

Fair Value Measurements - Financial Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Assets:
Assets fair value	$ 104,907	$ 139,423
Liabilities:
Liabilities fair value	13,446	36,220
Contingent Consideration
Liabilities:
Liabilities fair value	13,446	36,220
Cash Equivalents | Money Market Funds
Assets:
Assets fair value	104,907	124,303
Cash Equivalents | U.S. Treasury Bills
Assets:
Assets fair value		15,120
Level 1
Assets:
Assets fair value	104,907	139,423
Level 1 | Cash Equivalents | Money Market Funds
Assets:
Assets fair value	104,907	124,303
Level 1 | Cash Equivalents | U.S. Treasury Bills
Assets:
Assets fair value		15,120
Level 3
Liabilities:
Liabilities fair value	13,446	36,220
Level 3 | Contingent Consideration
Liabilities:
Liabilities fair value	$ 13,446	$ 36,220

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Details) - USD ($)	Jun. 01, 2018	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Dec. 31, 2019	Nov. 30, 2017
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Charge (benefit) related to changes in fair value of contingent consideration		$ 3,700,000	$ (3,000,000)	$ 4,200,000	$ 100,000
Contingent consideration, fair value		10,239,000		10,239,000		$ 10,239,000	$ 9,220,000
1.75% Convertible Senior Notes Due 2022
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Debt instrument fixed interest rate per annum								1.75%
1.75% Convertible Senior Notes Due 2022 | Level 2
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fair value of convertible senior notes		$ 190,000,000		$ 190,000,000		$ 190,000,000	$ 195,400,000
Debt instrument fixed interest rate per annum		1.75%		1.75%		1.75%	1.75%
Ahalogy
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Contingent consideration paid out	$ 14,600,000			$ 27,000,000		$ 12,400,000
Contingent consideration, fair value	$ 14,600,000	$ 0		$ 0		$ 0
Money Market Funds
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fixed net asset value		$ 1		$ 1		$ 1

Fair Value Measurements - Summa

Fair Value Measurements - Summary of Changes in Contingent Consideration (Details) - Level 3 - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Ubimo
Fair Value Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Balance at the beginning of period	$ 5,979		$ 5,686
Change in fair value during the period	4,260		4,553
Total	10,239		10,239
Elevaate
Fair Value Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Balance at the beginning of period	3,701	$ 7,133	3,534	$ 6,121
Change in fair value during the period	(494)	(4,118)	(327)	(3,106)
Total	$ 3,207	3,015	3,207	3,015
Ahalogy
Fair Value Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Balance at the beginning of period		24,893	27,000	22,842
Change in fair value during the period		1,108		3,159
Payments made during the period			$ (27,000)
Total		$ 26,001		$ 26,001

Allowance for Credit Losses - S

Allowance for Credit Losses - Summary of Activity in Allowance for Credit Losses (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Credit Loss [Abstract]
Balance at the beginning of period	$ 2,043	$ 1,331	$ 2,021	$ 1,200
Provision for expected credit losses	46	234	263	366
Write-offs charged against the allowance	(10)	(184)	(205)	(185)
Balance at the end of period	$ 2,079	$ 1,381	$ 2,079	$ 1,381

Balance Sheet Components - Prop

Balance Sheet Components - Property and Equipment, Net (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Property Plant And Equipment [Line Items]
Property and equipment, Total	$ 74,770	$ 75,981
Accumulated depreciation and amortization	(63,678)	(63,543)
Projects in process	4,248	1,266
Total property and equipment, net	15,340	13,704
Software
Property Plant And Equipment [Line Items]
Property and equipment, Total	42,784	41,876
Computer Equipment
Property Plant And Equipment [Line Items]
Property and equipment, Total	23,658	25,773
Leasehold Improvements
Property Plant And Equipment [Line Items]
Property and equipment, Total	5,855	5,883
Furniture and Fixtures
Property Plant And Equipment [Line Items]
Property and equipment, Total	$ 2,473	$ 2,449

Balance Sheet Components - Addi

Balance Sheet Components - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Property Plant And Equipment [Abstract]
Depreciation	$ 1.8	$ 1.9	$ 3.4	$ 3.7
Capitalized costs	1.9	2	3.6	3
Amortization expense	0.8	$ 0.6	1.5	$ 1.2
Unamortized costs	$ 7.9		$ 7.9		$ 5.8

Balance Sheet Components - Accr

Balance Sheet Components - Accrued Compensation and Benefits (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Payables And Accruals [Abstract]
Commissions	$ 2,784	$ 5,996
Payroll and related expenses	2,692	2,533
Bonus	1,405	5,997
Vacation	920	706
Total accrued compensation and benefits	$ 7,801	$ 15,232

Balance Sheet Components - Othe

Balance Sheet Components - Other Current Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Payables And Accruals [Abstract]
Distribution fees	$ 17,925	$ 20,360
Traffic acquisition cost	8,303	5,278
Prefunded liability	5,042	5,429
Marketing expenses	3,624	2,164
Operating lease liabilities	3,039	3,168
Liability related to purchased intangible asset	1,000	1,000
Interest payable	282	282
Other	7,985	12,351
Total other current liabilities	$ 47,200	$ 50,032

Acquisitions - Additional Infor

Acquisitions - Additional Information (Details) - USD ($)	Nov. 19, 2019	Oct. 26, 2018	Aug. 27, 2018	Jun. 01, 2018	Jun. 30, 2020	Jun. 30, 2020	Feb. 29, 2020	Dec. 31, 2019
Business Acquisition [Line Items]
Contingent consideration, fair value					$ 10,239,000	$ 10,239,000		$ 9,220,000
Contingent consideration liability					3,207,000	3,207,000		$ 27,000,000
Contingent consideration paid out, financing activity						14,582,000
Goodwill deductible for income tax purposes					0	0
Ubimo
Business Acquisition [Line Items]
Total preliminary acquisition consideration	$ 20,700,000
Cash payments for purchase of assets	15,000,000
Contingent consideration payable in cash	24,800,000
Contingent consideration, fair value	$ 5,700,000
Contingent consideration, milestones achievement period end date	Dec. 31, 2021
Elevaate
Business Acquisition [Line Items]
Total preliminary acquisition consideration		$ 13,300,000
Cash payments for purchase of assets		7,200,000
Contingent consideration payable in cash		18,500,000
Contingent consideration, fair value		$ 6,100,000
Contingent consideration, milestones achievement period end date		Jan. 31, 2021
Contingent consideration, milestones achievement period start date		Feb. 1, 2019
SavingStar, Inc
Business Acquisition [Line Items]
Cash payments for purchase of assets			$ 7,500,000
Contingent consideration payable in cash			10,600,000
Contingent consideration, fair value			$ 0				$ 0
Contingent consideration, milestones achievement period end date			Feb. 29, 2020
Ahalogy
Business Acquisition [Line Items]
Total preliminary acquisition consideration				$ 36,400,000
Cash payments for purchase of assets				21,800,000
Contingent consideration payable in cash				30,000,000	30,000,000	30,000,000
Contingent consideration, fair value				$ 14,600,000	0	0
Contingent consideration, milestones achievement period end date				Dec. 31, 2019
Contingent consideration paid out including certain bonuses					30,000,000	30,000,000
Contingent consideration liability				$ 27,000,000	$ 0	0
Other current liabilities related to acquisition				$ 3,000,000
Contingent consideration paid out, financing activity						14,600,000
Contingent consideration paid out, operating activity						$ 15,400,000

Acquisitions - Summary of Preli

Acquisitions - Summary of Preliminary Acquisition Consideration and the Related Fair Values of Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	Nov. 19, 2019	Oct. 26, 2018	Aug. 27, 2018	Jun. 01, 2018	Jun. 30, 2020
Business Acquisition [Line Items]
Purchase Consideration					$ 78,003
Net Tangible Assets Acquired/ (Liabilities Assumed)					1,394
Identifiable Intangible Assets					28,688
Goodwill					47,921
Acquisition Related Expenses					$ 2,368
Ubimo
Business Acquisition [Line Items]
Purchase Consideration	$ 20,740
Net Tangible Assets Acquired/ (Liabilities Assumed)	384
Identifiable Intangible Assets	10,750
Goodwill	$ 9,606
Goodwill Deductible for Taxes	Not Deductible
Acquisition Related Expenses	$ 579
Elevaate
Business Acquisition [Line Items]
Purchase Consideration		$ 13,346
Net Tangible Assets Acquired/ (Liabilities Assumed)		(60)
Identifiable Intangible Assets		3,781
Goodwill		$ 9,625
Goodwill Deductible for Taxes		Not Deductible
Acquisition Related Expenses		$ 549
SavingStar, Inc
Business Acquisition [Line Items]
Purchase Consideration			$ 7,485
Net Tangible Assets Acquired/ (Liabilities Assumed)			(1,126)
Identifiable Intangible Assets			2,577
Goodwill			$ 6,034
Goodwill Deductible for Taxes			Not Deductible
Acquisition Related Expenses			$ 556
Ahalogy
Business Acquisition [Line Items]
Purchase Consideration				$ 36,432
Net Tangible Assets Acquired/ (Liabilities Assumed)				2,196
Identifiable Intangible Assets				11,580
Goodwill				$ 22,656
Goodwill Deductible for Taxes				Not Deductible
Acquisition Related Expenses				$ 684

Acquisitions - Component of Ide

Acquisitions - Component of Identifiable Intangible Assets (Details) - USD ($) $ in Thousands	Nov. 19, 2019	Oct. 26, 2018	Aug. 27, 2018	Jun. 01, 2018	Jun. 30, 2020
Acquired Finite Lived Intangible Assets [Line Items]
Identifiable intangible assets					$ 28,688
Ubimo
Acquired Finite Lived Intangible Assets [Line Items]
Identifiable intangible assets	$ 10,750
Elevaate
Acquired Finite Lived Intangible Assets [Line Items]
Identifiable intangible assets		$ 3,781
SavingStar, Inc
Acquired Finite Lived Intangible Assets [Line Items]
Identifiable intangible assets			$ 2,577
Ahalogy
Acquired Finite Lived Intangible Assets [Line Items]
Identifiable intangible assets				$ 11,580
Developed Technologies | Ubimo
Acquired Finite Lived Intangible Assets [Line Items]
Identifiable intangible assets	$ 7,100
Estimated Useful Life (in Years)	4 years
Developed Technologies | Elevaate
Acquired Finite Lived Intangible Assets [Line Items]
Identifiable intangible assets		$ 3,307
Estimated Useful Life (in Years)		5 years
Developed Technologies | SavingStar, Inc
Acquired Finite Lived Intangible Assets [Line Items]
Identifiable intangible assets			$ 1,476
Estimated Useful Life (in Years)			3 years
Developed Technologies | Ahalogy
Acquired Finite Lived Intangible Assets [Line Items]
Identifiable intangible assets				$ 3,100
Estimated Useful Life (in Years)				4 years
Customer Relationships | Ubimo
Acquired Finite Lived Intangible Assets [Line Items]
Identifiable intangible assets	$ 3,400
Estimated Useful Life (in Years)	2 years
Customer Relationships | Elevaate
Acquired Finite Lived Intangible Assets [Line Items]
Identifiable intangible assets		$ 379
Estimated Useful Life (in Years)		5 years
Customer Relationships | SavingStar, Inc
Acquired Finite Lived Intangible Assets [Line Items]
Identifiable intangible assets			$ 1,040
Estimated Useful Life (in Years)			3 years
Customer Relationships | Ahalogy
Acquired Finite Lived Intangible Assets [Line Items]
Identifiable intangible assets				$ 6,210
Estimated Useful Life (in Years)				6 years
Trade Names | Ubimo
Acquired Finite Lived Intangible Assets [Line Items]
Identifiable intangible assets	$ 250
Estimated Useful Life (in Years)	4 years
Trade Names | Elevaate
Acquired Finite Lived Intangible Assets [Line Items]
Identifiable intangible assets		$ 95
Estimated Useful Life (in Years)		3 years
Trade Names | SavingStar, Inc
Acquired Finite Lived Intangible Assets [Line Items]
Identifiable intangible assets			$ 61
Estimated Useful Life (in Years)			1 year 6 months
Trade Names | Ahalogy
Acquired Finite Lived Intangible Assets [Line Items]
Identifiable intangible assets				$ 650
Estimated Useful Life (in Years)				4 years
Vendor Relationships | Ahalogy
Acquired Finite Lived Intangible Assets [Line Items]
Identifiable intangible assets				$ 1,620
Estimated Useful Life (in Years)				2 years

Intangible Assets - Summary of

Intangible Assets - Summary of Gross Carrying Amount and Accumulated Amortization for Intangible Assets Intangible Assets (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2020	Dec. 31, 2019
Finite Lived Intangible Assets [Line Items]
Gross	$ 138,569	$ 138,569
Accumulated Amortization	(83,250)	(68,817)
Net	$ 55,319	$ 69,752
Weighted Average Amortization Period (Years)	2 years 7 months 6 days	3 years
Media Service Rights
Finite Lived Intangible Assets [Line Items]
Gross	$ 34,684	$ 34,684
Accumulated Amortization	(20,756)	(16,098)
Net	$ 13,928	$ 18,586
Weighted Average Amortization Period (Years)	1 year 9 months 18 days	2 years 2 months 12 days
Promotion Service Rights
Finite Lived Intangible Assets [Line Items]
Gross	$ 30,548	$ 30,548
Accumulated Amortization	(13,525)	(10,682)
Net	$ 17,023	$ 19,866
Weighted Average Amortization Period (Years)	3 years 1 month 6 days	3 years 7 months 6 days
Developed Technologies
Finite Lived Intangible Assets [Line Items]
Gross	$ 27,170	$ 27,170
Accumulated Amortization	(16,069)	(12,790)
Net	$ 11,101	$ 14,380
Weighted Average Amortization Period (Years)	2 years 9 months 18 days	3 years 2 months 12 days
Customer Relationships
Finite Lived Intangible Assets [Line Items]
Gross	$ 22,690	$ 22,690
Accumulated Amortization	(14,263)	(12,267)
Net	$ 8,427	$ 10,423
Weighted Average Amortization Period (Years)	3 years	3 years 3 months 18 days
Data Access Rights
Finite Lived Intangible Assets [Line Items]
Gross	$ 10,801	$ 10,801
Accumulated Amortization	(7,355)	(6,415)
Net	$ 3,446	$ 4,386
Weighted Average Amortization Period (Years)	1 year 9 months 18 days	2 years 3 months 18 days
Domain Names
Finite Lived Intangible Assets [Line Items]
Gross	$ 5,948	$ 5,948
Accumulated Amortization	(5,573)	(5,540)
Net	$ 375	$ 408
Weighted Average Amortization Period (Years)	3 months 18 days	9 months 18 days
Trade Names
Finite Lived Intangible Assets [Line Items]
Gross	$ 2,823	$ 2,823
Accumulated Amortization	(1,888)	(1,560)
Net	$ 935	$ 1,263
Weighted Average Amortization Period (Years)	1 year 9 months 18 days	2 years 2 months 12 days
Vendor Relationships
Finite Lived Intangible Assets [Line Items]
Gross	$ 2,510	$ 2,510
Accumulated Amortization	$ (2,510)	(2,172)
Net		$ 338
Weighted Average Amortization Period (Years)	0 years	4 months 24 days
Patents
Finite Lived Intangible Assets [Line Items]
Gross	$ 975	$ 975
Accumulated Amortization	(891)	(873)
Net	$ 84	$ 102
Weighted Average Amortization Period (Years)	2 years 3 months 18 days	2 years 9 months 18 days
Registered Users
Finite Lived Intangible Assets [Line Items]
Gross	$ 420	$ 420
Accumulated Amortization	$ (420)	$ (420)
Weighted Average Amortization Period (Years)	0 years	0 years

Intangible Assets - Additional

Intangible Assets - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Intangible Assets [Line Items]
Amortization expense of intangible assets	$ 7.1	$ 6	$ 14.4	$ 11.9
Domain Names
Intangible Assets [Line Items]
Indefinite lived intangible, gross value	$ 0.4		$ 0.4		$ 0.4

Intangible Assets - Estimated A

Intangible Assets - Estimated Amortization of Intangible Assets (Details) $ in Thousands	Jun. 30, 2020USD ($)
Goodwill And Intangible Assets Disclosure [Abstract]
2020, remaining six months	$ 13,096
2021	21,001
2022	13,419
2023	6,642
2024	809
Total estimated amortization expense	$ 54,967

Debt Obligations - Additional I

Debt Obligations - Additional Information (Details) - 1.75% Convertible Senior Notes Due 2022	1 Months Ended	3 Months Ended		6 Months Ended
	Nov. 30, 2017USD ($)d$ / sharesshares	Jun. 30, 2020USD ($)	Jun. 30, 2019USD ($)	Jun. 30, 2020USD ($)	Jun. 30, 2019USD ($)	Dec. 31, 2019USD ($)
Line Of Credit Facility [Line Items]
Debt instrument aggregate principal amount	$ 200,000,000
Debt instrument maturity year	2022
Debt instrument fixed interest rate per annum	1.75%
Debt instrument, frequency of payment				payable semi-annually in arrears on June 1 and December 1 of each year, commencing on June 1, 2018.
Net proceeds from the debt offering, after deducting transaction costs	$ 193,800,000
Convertible notes, shares issued | shares	57.6037
Convertible notes, principal amount	$ 1,000
Convertible notes, initial conversion price | $ / shares	$ 17.36
Convertible notes, type of equity security issued				common stock
Convertible notes, conversion description				Holders of the notes may convert their notes at their option at any time prior to the close of business on the business day immediately preceding September 1, 2022, only under the following circumstances: (1) during any calendar quarter commencing after the calendar quarter ending on March 31, 2018 (and only during such calendar quarter), if the last reported sale price of the Company’s common stock for at least 20 trading days (whether or not consecutive) during a period of 30 consecutive trading days ending on, and including, the last trading day of the immediately preceding calendar quarter is greater than or equal to 130% of the conversion price on each applicable trading day; (2) during the five-business day period after any five consecutive trading day period (the “measurement period”) in which the trading price per $1,000 principal amount of notes for each trading day of the measurement period was less than 98% of the product of the last reported sale price of the Company’s common stock and the conversion rate for the notes on each such trading day; (3) if the Company calls any or all of the notes for redemption, at any time prior to the close of business on the scheduled trading day immediately preceding the redemption date; or (4) upon the occurrence of specified corporate events. On or after September 1, 2022, holders may convert all or any portion of their notes at any time prior to the close of business on the scheduled trading day immediately preceding the maturity date regardless of the foregoing conditions. Upon conversion, the Company will pay or deliver, as the case may be, cash, shares of its common stock or a combination of cash and shares of its common stock, at its election. The Company intends to settle the principal amount of the notes with cash.
Convertible notes, percentage of conversion price	130.00%
Convertible notes, redemption description				The Company may not redeem the notes prior to December 5, 2020. It may redeem for cash all or any portion of the notes, at its option, on or after December 5, 2020 if the last reported sale price of its common stock has been at least 130% of the conversion price then in effect for at least 20 trading days (whether or not consecutive) during any 30 consecutive trading day period (including the last trading day of such period) ending not more than three trading days preceding the date on which it provides notice of redemption at a redemption price equal to 100% of the principal amount of the notes to be redeemed, plus accrued and unpaid interest to, but excluding, the redemption date.
Convertible notes, redemption percentage	100.00%
Convertible notes, sinking fund	$ 0
Percentage of repurchase price is equal to principal amount of convertible notes	100.00%
Carrying amount of the liability component	$ 149,300,000
Carrying amount of the equity component	$ 50,700,000
Convertible notes, effective interest rate	5.80%
Debt issuance costs	$ 6,200,000
Amortization of interest expense	4,600,000	$ 231,000	$ 230,000	$ 462,000	$ 460,000
Adjustments to additional paid in capital, equity component of debt issuance costs	$ 1,600,000	1,600,000		1,600,000		$ 1,600,000
Additional Paid-In Capital
Line Of Credit Facility [Line Items]
Carrying amount of the equity component		$ 49,100,000		$ 49,100,000		$ 49,100,000
90% Applicable Conversion Price
Line Of Credit Facility [Line Items]
Convertible notes, consecutive trading days | d	5
Minimum | 130% Applicable Conversion Price
Line Of Credit Facility [Line Items]
Convertible notes, consecutive trading days | d	20
Maximum
Line Of Credit Facility [Line Items]
Convertible notes, percentage of last reported sale price of common stock	98.00%
Maximum | 130% Applicable Conversion Price
Line Of Credit Facility [Line Items]
Convertible notes, consecutive trading days | d	30

Debt Obligations - Schedule of

Debt Obligations - Schedule of Net Carrying Amount of Liability Component (Details) - 1.75% Convertible Senior Notes Due 2022 - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Line Of Credit Facility [Line Items]
Principal	$ 200,000	$ 200,000
Unamortized debt discount	(26,162)	(31,132)
Unamortized debt issuance costs	(2,249)	(2,711)
Net carrying amount of the liability component	$ 171,589	$ 166,157

Debt Obligations - Schedule o_2

Debt Obligations - Schedule of Interest Expense (Details) - 1.75% Convertible Senior Notes Due 2022 - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		6 Months Ended
	Nov. 30, 2017	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Line Of Credit Facility [Line Items]
Contractual interest expense		$ 875	$ 875	$ 1,750	$ 1,750
Amortization of debt discount		2,503	2,362	4,970	4,690
Amortization of debt issuance costs	$ 4,600	231	230	462	460
Total interest expense related to the Notes		$ 3,609	$ 3,467	$ 7,182	$ 6,900

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Options granted	0	0	1,150,178
Weighted average grant date fair value			$ 4.26	$ 5.01
Issuance of common stock, stock purchase plan, shares			1,667,810
Shares available for issuance	1,932,190		1,932,190
Stock-based compensation	$ 7,006	$ 8,036	$ 14,532	$ 16,084
Property and Equipment
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation	$ 100	100	$ 200	200
2013 Equity Incentive Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock reserved for future issuance	4,000,000		4,000,000
Percentage of outstanding stock			4.00%
Options expiration period			10 years
2013 Equity Incentive Plan | Minimum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Granted price per share percent			100.00%
Restricted Stock Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Fair value of options vested, total	$ 1,500	$ 1,700	$ 2,900	$ 3,000
Unrecognized stock based compensation	42,700		$ 42,700
Unrecognized stock based compensation, amortized weighted average period			2 years 7 months 13 days
2013 Employee Stock Purchase Plan ("ESPP")
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Maximum contribution of base compensation for employee stock purchase plan			15.00%
Offering period of employee stock purchase plan			6 months
Purchase price of common stock percentage of fair market value			85.00%
Stock Based Compensation Expense
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized stock based compensation	57,500		$ 57,500
Stock Options
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized stock based compensation	$ 14,800		$ 14,800
Unrecognized stock based compensation, amortized weighted average period			2 years 10 months 6 days

Stock-Based Compensation - Summ

Stock-Based Compensation - Summary of Assumptions Used to Estimate the Fair Value of Stock Options and Employee Stock Purchase Plan (Details)	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Employee Stock Purchase Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected life (in years)	6 months	6 months	6 months	6 months
Risk-free interest rate	0.15%	2.43%
Risk-free interest rate, minimum			0.15%	2.43%
Risk-free interest rate, maximum			1.59%	2.50%
Volatility	60.00%	35.00%		35.00%
Volatility, minimum			55.00%
Volatility, maximum			60.00%
Stock Options
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected life (in years)			6 years 7 days	6 years 7 days
Risk-free interest rate			0.96%	2.66%
Volatility			50.00%	50.00%

Stock-Based Compensation - Su_2

Stock-Based Compensation - Summary of Stock Option and Restricted Stock Units Award Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended	12 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Dec. 31, 2019
Shares Available for Grant
Beginning balance			6,036,180
Increase in shares authorized			3,574,847
Options granted	0	0	(1,150,178)
Options canceled or expired			673,266
RSUs granted			(1,771,870)
RSUs canceled or expired			600,420
RSUs vested and withheld for taxes			387,069
Ending balance	8,349,734		8,349,734	6,036,180
Number of Shares
Beginning balance			8,600,441
Options granted	0	0	1,150,178
Options exercised			(62,157)
Options canceled or expired			(673,266)
Ending balance	9,015,196		9,015,196	8,600,441
Vested and exercisable at the end of period	5,436,103		5,436,103
Weighted Average Exercise Price
Beginning balance			$ 11.40
Options granted			8.95
Options exercised			7.78
Options canceled or expired			11.91
Ending balance	$ 11.07		11.07	$ 11.40
Vested and exercisable at the end of period	$ 12.39		$ 12.39
Weighted Average Remaining Contractual Term (Years) / Aggregate Intrinsic Value
Weighted Average Remaining Contractual Term (Years)			5 years 4 months 13 days	5 years 1 month 28 days
Vested and exercisable at the end of period			3 years 7 months 2 days
Aggregate Intrinsic Value	$ 1,526		$ 1,526	$ 8,811
Aggregate Intrinsic Value, Options exercised			151
Vested and exercisable at the end of period	$ 1,526		$ 1,526
Restricted Stock Units, Number of Shares
RSUs granted			1,771,870
RSUs canceled or expired			(600,420)
Restricted Stock Units
Shares Available for Grant
RSUs granted			(1,771,870)
RSUs vested			(1,150,579)
RSUs canceled or expired			600,420
Restricted Stock Units, Number of Shares
Beginning balance			5,022,675
RSUs granted			1,771,870
RSUs vested			(1,150,579)
RSUs canceled or expired			(600,420)
Ending balance	5,043,546		5,043,546	5,022,675
Weighted Average Grant Date Fair Value
Beginning Balance			$ 10.66
RSUs granted			8.03
RSUs vested			11.04
RSUs canceled or expired			11.11
Ending balance	$ 9.60		$ 9.60	$ 10.66

Stock-Based Compensation - Sche

Stock-Based Compensation - Schedule of Stock Based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Stock-based compensation	$ 7,006	$ 8,036	$ 14,532	$ 16,084
Cost of Revenues
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Stock-based compensation	387	562	822	1,164
Sales and Marketing
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Stock-based compensation	1,323	1,825	2,725	3,563
Research and Development
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Stock-based compensation	839	1,073	1,720	2,439
General and Administrative
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Stock-based compensation	$ 4,457	$ 4,576	$ 9,265	$ 8,918

Common Stock Repurchase Progr_2

Common Stock Repurchase Programs - Additional Information (Details) - Share Repurchase Program ("August 2019 Program") - USD ($)	1 Months Ended	3 Months Ended	6 Months Ended
	Aug. 31, 2019	Jun. 30, 2020	Jun. 30, 2020
Common Stock Repurchases [Line Items]
Number of shares repurchased		0	0
Remaining amount available for future share repurchases		$ 50,000,000	$ 50,000,000
Stock repurchase program duration	1 year
Share repurchase program, beginning date	2019-08
Share repurchase program, end date	2020-08
Maximum
Common Stock Repurchases [Line Items]
Repurchase of authorized common stock	$ 50,000,000

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Income Tax Disclosure [Abstract]
Provision for (benefit from) income taxes	$ (35)	$ 134	$ 195	$ 160

Net Loss Per Share - Schedule o

Net Loss Per Share - Schedule of Computation of Basic and Diluted Net Loss Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Earnings Per Share [Abstract]
Net loss	$ (19,133)	$ (3,906)	$ (35,858)	$ (17,134)
Weighted-average number of common shares used in computing net loss per share, basic and diluted	90,112	92,558	89,875	93,406
Net loss per share, basic and diluted	$ (0.21)	$ (0.04)	$ (0.40)	$ (0.18)

Net Loss Per Share - Schedule_2

Net Loss Per Share - Schedule of Outstanding Common Equivalent Shares Excluded from Computation of Diluted Net Loss Per Share (Details) - shares shares in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Outstanding common equivalent shares	25,647	24,517	25,647	24,517
Stock Options and ESPP
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Outstanding common equivalent shares	9,082	7,581	9,082	7,581
Restricted Stock Units
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Outstanding common equivalent shares	5,044	5,415	5,044	5,415
Shares Related to Convertible Senior Notes
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Outstanding common equivalent shares	11,521	11,521	11,521	11,521

Leases - Additional Information

Leases - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Lessee Lease Description [Line Items]
Lessee operating lease description			The Company has entered into operating leases primarily for office facilities. These leases have terms which typically range from 1 year to 10 years
Lessee operating lease option to extend			and often include options to renew.
Option to extend operating lease			true
Long term lease commitment, amount	$ 24,954		$ 24,954
Total lease costs	1,200	$ 900	2,300	$ 1,800
Operating lease costs for right-of-use assets	1,000	800	1,700	1,600
Short-term lease costs related to short-term operating leases	$ 200	$ 100	$ 500	$ 200
Professional Sports Team Suite
Lessee Lease Description [Line Items]
Operating lease, term of contract	20 years		20 years
Long term lease commitment, amount	$ 5,400		$ 5,400
Long term operating lease term			2034
Minimum
Lessee Lease Description [Line Items]
Operating lease, term of contract	1 year		1 year
Maximum
Lessee Lease Description [Line Items]
Operating lease, term of contract	10 years		10 years
Operating lease, renewal term	6 years		6 years

Leases - Supplemental Cash Flow

Leases - Supplemental Cash Flow Information Related to Operating Leases (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Leases [Abstract]
Cash paid for operating lease liabilities	$ 936	$ 1,469	$ 1,910	$ 2,817
Right-of-use assets obtained in exchange for lease obligations	$ 11,084		$ 11,084	$ 12,955

Leases - Supplemental Balance S

Leases - Supplemental Balance Sheet Information Related to Operating Leases (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Leases [Abstract]
Operating lease right-of-use assets	$ 16,851	$ 7,211
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	us-gaap:OtherAssetsMember	us-gaap:OtherAssetsMember
Other current liabilities	$ 3,039	$ 3,168
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	us-gaap:OtherCurrentLiabilitiesMember	us-gaap:OtherCurrentLiabilitiesMember
Other non-current liabilities	$ 16,642	$ 6,692
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	us-gaap:OtherNoncurrentLiabilitiesMember	us-gaap:OtherNoncurrentLiabilitiesMember
Total operating lease liabilities	$ 19,681	$ 9,860
Weighted average remaining lease term (in years)	7 years 7 months 6 days	3 years 10 months 24 days
Weighted average discount rate	6.00%	7.90%

Leases - Maturities of Operatin

Leases - Maturities of Operating Lease Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Leases [Abstract]
2020, remaining six months	$ 2,178
2021	3,699
2022	3,440
2023	3,484
2024	2,874
2025 and thereafter	9,279
Total lease payments	24,954
Less: Imputed Interest	(5,273)
Total	$ 19,681	$ 9,860

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details) $ in Millions	6 Months Ended
	Jun. 30, 2020USD ($)
Open Purchase Commitments
Commitments And Contingencies [Line Items]
Distribution fees, software license fees and marketing services	$ 33.6

Employee Benefit Plan - Additio

Employee Benefit Plan - Additional Information (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Compensation And Retirement Disclosure [Abstract]
Rate at which the company matches employee contribution			3.00%
Maximum contribution amount			$ 6,000
Defined contribution vesting period			4 years
Matching contribution expense	$ 500,000	$ 100,000	$ 1,200,000	$ 800,000

Subsequent Events - Additional

Subsequent Events - Additional Information (Details) - USD ($)	Aug. 03, 2020	Jun. 30, 2020
Subsequent Event [Line Items]
Basic annual rent agreed to pay		$ 24,954,000
Subsequent Event | Lease Agreement [Member] | MG 400 Logue LLC [Member]
Subsequent Event [Line Items]
Basic annual rent agreed to pay	$ 1,200