GoPro (GPRO) 10-Q 29 Jul 16 2016 Q2 Quarterly report Financial data

Document, Entity and Informatio

Document, Entity and Information	6 Months Ended
	Jun. 30, 2016shares
Class of Stock [Line Items]
Entity Registrant Name	GoPro, Inc.
Entity Central Index Key	1,500,435
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Jun. 30, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q2
Amendment Flag	false
Entity Well-known Seasoned Issuer
Entity Voluntary Filers
Entity Current Reporting Status
Common Class A [Member]
Class of Stock [Line Items]
Entity Common Stock, Shares Outstanding	102,936,387
Common Class B [Member]
Class of Stock [Line Items]
Entity Common Stock, Shares Outstanding	36,503,793

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Current assets:
Cash and cash equivalents	$ 163,512	$ 279,672
Marketable securities	115,688	194,386
Accounts receivable, net	65,016	145,692
Inventory	89,889	188,232
Prepaid expenses and other current assets	38,057	25,261
Total current assets	472,162	833,243
Property and equipment, net	66,525	70,050
Intangible assets, net	46,073	31,027
Goodwill	146,459	57,095
Other long-term assets	133,161	111,561
Total assets	864,380	1,102,976
Current liabilities:
Accounts payable	63,642	89,989
Accrued liabilities	151,102	192,446
Deferred revenue	11,605	12,742
Total current liabilities	226,349	295,177
Long-term liabilities	40,641	35,766
Total liabilities	266,990	330,943
Commitments, contingencies and guarantees
Stockholders’ equity:
Preferred stock, $0.0001 par value, 5,000 shares authorized; none issued	0	0
Common stock and additional paid-in capital, $0.0001 par value, 500,000 Class A shares authorized,102,936 and 100,596 shares issued and outstanding, respectively; 150,000 Class B shares authorized, 36,504 and 36,005 shares issued and outstanding, respectively	687,894	663,311
Treasury stock, at cost, 1,545 and 1,545 shares, respectively	(35,613)	(35,613)
Retained earnings (deficit)	(54,891)	144,335
Total stockholders’ equity	597,390	772,033
Total liabilities and stockholders’ equity	$ 864,380	$ 1,102,976

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2016	Dec. 31, 2015
Preferred Stock, par value (usd per share)	$ 0.0001	$ 0.0001
Preferred Stock, Shares Authorized	5,000,000	5,000,000
Preferred Stock, Shares Issued	0	0
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Treasury Stock, Shares	1,545,000	1,545,000
Common Class A [Member]
Common Stock, Shares Authorized	500,000,000	500,000,000
Common Stock, Shares, Issued	102,936,000	100,596,000
Common stock, shares, outstanding	102,936,000	100,596,000
Common Class B [Member]
Common Stock, Shares Authorized	150,000,000	150,000,000
Common Stock, Shares, Issued	36,504,000	36,005,000
Common stock, shares, outstanding	36,504,000	36,005,000

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Income Statement [Abstract]
Revenue	$ 220,755	$ 419,919	$ 404,291	$ 783,028
Cost of revenue	127,753	225,579	251,575	424,955
Gross profit	93,002	194,340	152,716	358,073
Operating expenses:
Research and development	93,049	58,453	170,028	107,890
Sales and marketing	84,888	63,494	164,337	119,863
General and administrative	24,442	26,255	49,163	61,914
Total operating expenses	202,379	148,202	383,528	289,667
Operating income (loss)	(109,377)	46,138	(230,812)	68,406
Other income (expense), net	660	122	353	(2,122)
Income (loss) before income taxes	(108,717)	46,260	(230,459)	66,284
Income tax expense (benefit)	(16,950)	11,229	(31,233)	14,501
Net income (loss)	$ (91,767)	$ 35,031	$ (199,226)	$ 51,783
Net income per share attributable to common stockholders - Basic (in dollars per share)	$ (0.66)	$ 0.26	$ (1.44)	$ 0.39
Net income per share attributable to common stockholders - Diluted (in dollars per share)	$ (0.66)	$ 0.24	$ (1.44)	$ 0.35
Weighted-average shares used to compute net income per share attributable to common stockholders - Basic (in shares)	138,942	133,150	138,243	132,716
Weighted-average shares used to compute net income per share attributable to common stockholders - Diluted (in shares)	138,942	146,781	138,243	147,720

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Statement of Cash Flows [Abstract]
Net income (loss)	$ (199,226)	$ 51,783
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization	17,804	11,791
Stock-based compensation	33,135	44,690
Excess tax benefit from stock-based compensation	(917)	(28,139)
Deferred income taxes	(13,494)	(6,656)
Other	1,162	2,956
Changes in operating assets and liabilities:
Accounts receivable, net	80,699	65,562
Inventory	98,343	(66,045)
Prepaid expenses and other assets	(9,282)	(21,598)
Accounts payable and other liabilities	(85,492)	78,521
Deferred revenue	(1,457)	(724)
Net cash provided by (used in) operating activities	(78,725)	132,141
Investing activities:
Purchases of property and equipment, net	(12,192)	(21,269)
Purchases of marketable securities	0	(112,326)
Maturities and sales of marketable securities	78,093	34,446
Acquisitions, net of cash acquired	(104,353)	(57,706)
Net cash used in investing activities	(38,452)	(156,855)
Financing activities:
Proceeds from issuance of common stock, net	4,405	17,139
Excess tax benefit from stock-based compensation	917	28,139
Payment of deferred acquisition-related consideration	(950)	0
Payment of credit facility issuance costs	(3,221)	0
Payment of deferred public offering costs	0	(903)
Net cash provided by financing activities	1,151	44,375
Effect of exchange rate changes on cash and cash equivalents	(134)	(1,559)
Net increase (decrease) in cash and cash equivalents	(116,160)	18,102
Cash and cash equivalents at beginning of period	279,672	319,929
Cash and cash equivalents at end of period	$ 163,512	$ 338,031

Summary of business and signifi

Summary of business and significant accounting policies	6 Months Ended
	Jun. 30, 2016
Accounting Policies [Abstract]
Summary of significant accounting policies	Summary of business and significant accounting policies GoPro, Inc. (GoPro or the Company) makes mountable and wearable cameras and accessories. GoPro's products are sold globally through retailers, wholesale distributors and on the Company’s website. The Company's global corporate headquarters are located in San Mateo, California. Basis of presentation . The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (GAAP). The Company's fiscal year ends on December 31, and its fiscal quarters end on March 31, June 30, and September 30. The condensed consolidated financial statements reflect all adjustments (which are normal and recurring in nature) that management believes are necessary for the fair statement of the Company's financial statements, but are not necessarily indicative of the results expected for the full fiscal year or any other future period. The condensed consolidated balance sheet at December 31, 2015 has been derived from the audited financial statements at that date, but does not include all of the disclosures required by GAAP. This Quarterly Report on Form 10-Q should be read in conjunction with the Company's Annual Report on Form 10-K (Annual Report) for the year ended December 31, 2015 . There have been no significant changes in the Company’s accounting policies from those disclosed in its Annual Report. Principles of consolidation. These condensed consolidated financial statements include all the accounts of the Company and its wholly-owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. Use of estimates. The preparation of financial statements in accordance with 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. Significant estimates and assumptions made by management include those related to revenue recognition (including sales returns, implied post contract support and marketing allowances), stock-based compensation, inventory valuation, product warranty liabilities, the valuation and useful lives of long-lived assets (property and equipment, intangible assets and goodwill) and income taxes. The Company bases its estimates and assumptions on historical experience and on various other factors that it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results could differ materially from management's estimates. To the extent there are material differences between the estimates and the actual results, future results of operations could be affected. Comprehensive income (loss). For all periods presented, comprehensive income (loss) approximated net income (loss). Therefore, the condensed consolidated statements of comprehensive income (loss) have been omitted. Prior period reclassifications. Reclassifications of certain prior period amounts in the condensed consolidated financial statements have been made to conform to the current period presentation. Recent accounting pronouncements Standard Description Date of adoption Effect on the financial statements or other significant matters Standards that are not yet adopted Accounting Standards Update (ASU) No. 2014-09, 2016-08, 2016-10 and 2016-12, Revenue from Contracts with Customers (Topic 606) In May 2014, the Financial Accounting Standards Board (FASB) issued ASU No. 2014-09 to achieve a consistent application of revenue recognition within the United States, resulting in a single revenue model to be applied by reporting companies under GAAP. Under the new model, recognition of revenue occurs when a customer obtains control of promised goods or services in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The new standard requires that entities disclose the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers. In March 2016, the FASB issued ASU No. 2016-08, which clarifies the implementation guidance for principal versus agent considerations. In April 2016, the FASB issued ASU No. 2016-10, which amends the new standard related to identifying performance obligations and accounting for licenses of intellectual property. In May 2016, the FASB issued ASU No. 2016-12, which clarifies three aspects including the objective of the collectibility criterion, the measurement date for noncash consideration and the requirements for a completed contract. The new standards may be adopted either retrospectively to each prior reporting period presented or as a cumulative effect adjustment as of the date of adoption. January 1, 2018 The Company is evaluating the impact that the adoption of these standards will have on its consolidated financial statements and related disclosures. The Company has not determined whether the effect will be material to its revenue results. ASU No. 2016-02, Leases (Topic 842) This standard requires lessees to put most leases on their balance sheets but recognize the expenses on their income statements in a manner similar to current practice. Lessees would recognize a right-to-use asset and lease liability for all leases with terms of more than 12 months. Recognition, measurement and presentation of expenses will depend on classification as a finance or operating lease. The new standard should be applied on a modified retrospective basis. January 1, 2019 The Company is evaluating the impact that the adoption of this standard will have on its consolidated financial statements and related disclosures. ASU No. 2016-09, Stock Compensation (Topic 718) This standard simplifies certain aspects of the accounting for share-based payment transactions, including income taxes, classification of awards and classification on the statement of cash flows. The new guidance also allows an entity to make a policy election to account for forfeitures as they occur. Early adoption is permitted for an entity in any interim or annual period. If an entity early adopts the amendments in an interim period, any adjustments should be reflected as of the beginning of the fiscal year that includes that interim period. An entity that elects early adoption must adopt all of the amendments in the same period. January 1, 2017 The Company is evaluating the impact that the adoption of this standard will have on its consolidated financial statements and related disclosures. Accounting Standards Update (ASU) No. 2016-13, Credit Losses (Topic 326) The standard requires that entities use a new forward looking “expected loss” model that generally will result in the earlier recognition of allowance for credit losses. The measurement of expected credit losses is based upon historical experience, current conditions, and reasonable and supportable forecasts that affect the collectability of the reported amount. January 1, 2020 The Company is evaluating the impact that the adoption of this standard will have on its consolidated financial statements and related disclosures. Standards that were adopted ASU No. 2015-03 and ASU 2015-15, Interest - Imputation of Interest (Subtopic 835-30) ASU 2015-03 requires that debt issuance costs be presented in the balance sheet as a direct deduction from the carrying amount of the related debt liability, consistent with debt discounts. ASU 2015-15 clarified ASU 2015-03 in that fees related to line-of-credit arrangements should continue to be presented as an asset and subsequently amortized ratably over the term of the line-of-credit arrangement. January 1, 2016 The adoption of these standards did not have a material impact on the Company's consolidated financial statements.

Business Acquisitions

Business Acquisitions	6 Months Ended
	Jun. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Business overview	Acquisitions During the six months ended June 30, 2016 , the Company completed acquisitions of two privately-held mobile editing application companies for cash consideration of approximately $104 million . The aggregate allocation of the purchase prices primarily included $17.4 million of identifiable intangible assets, $3.4 million of net deferred tax liabilities and approximately $89 million of residual goodwill. Net tangible assets acquired were not material. Goodwill is primarily attributable to expected synergies in the technologies that can be leveraged by the Company in future software related offerings. Goodwill is not expected to be deductible for U.S. income tax purposes. The operating results of the acquired companies have been included in the Company's condensed consolidated financial statements for the six months ended June 30, 2016 from the date of acquisition. The acquired companies are headquartered in Austin, Texas and Paris, France. In addition to the amounts above, aggregate deferred cash and stock compensation of up to approximately $37 million is payable to certain continuing employees subject to meeting specified future employment conditions. This amount is being recognized as compensation expense over the requisite service periods of up to four years from the respective acquisition dates. Actual and pro forma results of operations for these acquisitions have not been presented because they do not have a material impact to the Company's consolidated results of operations, either individually or in aggregate.

Fair value measurements

Fair value measurements	6 Months Ended
	Jun. 30, 2016
Fair Value Disclosures [Abstract]
Fair value measurements	Fair value measurements The Company’s assets that are measured at fair value on a recurring basis within the fair value hierarchy are summarized as follows: June 30, 2016 December 31, 2015 (in thousands) Level 1 Level 2 Total Level 1 Level 2 Total Cash equivalents (1) : Money market funds $ 36,724 $ — $ 36,724 $ 51,059 $ — $ 51,059 Total cash equivalents $ 36,724 $ — $ 36,724 $ 51,059 $ — $ 51,059 Marketable securities: U.S. agency securities $ — $ 13,391 $ 13,391 $ — $ 14,451 $ 14,451 Commercial paper — — — — 2,197 2,197 Corporate debt securities — 96,165 96,165 — 165,825 165,825 Municipal securities — 6,132 6,132 — 11,913 11,913 Total marketable securities $ — $ 115,688 $ 115,688 $ — $ 194,386 $ 194,386 (1) Included in “cash and cash equivalents” in the accompanying condensed consolidated balance sheets. Cash balances were $126.8 million and $228.6 million as of June 30, 2016 and December 31, 2015 , respectively. Cash equivalents and marketable securities are classified as Level 1 or Level 2 because the Company uses quoted market prices or alternative pricing sources and models utilizing market observable inputs to determine their fair value. At June 30, 2016 and December 31, 2015 , the Company had no financial assets or liabilities that were classified as Level 3, which are valued based on inputs supported by little or no market activity. There were no transfers of financial assets between levels during the six months ended June 30, 2016 . The remaining contractual maturities of available-for-sale marketable securities are as follows: (in thousands) June 30, December 31, Less than one year $ 90,612 $ 122,199 Greater than one year but less than two years 25,076 72,187 Total $ 115,688 $ 194,386 At June 30, 2016 and December 31, 2015 , the amortized cost of the Company's cash equivalents and marketable securities approximated their fair value and there were no material unrealized gains or losses, either individually or in the aggregate. For certain other financial assets and liabilities, including accounts receivable, accounts payable and other current liabilities, the carrying amounts approximate their fair value due to the relatively short maturity of these balances.

Condensed consolidated financia

Condensed consolidated financial statement details	6 Months Ended
	Jun. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Consolidated financial statement details	Condensed consolidated financial statement details The following sections and tables provide details of selected balance sheet items. Inventory (in thousands) June 30, December 31, Components $ 8,190 $ 9,476 Finished goods 81,699 178,756 Total inventory $ 89,889 $ 188,232 Property and equipment, net (in thousands) June 30, December 31, Leasehold improvements $ 42,369 $ 40,841 Production, engineering and other equipment 26,957 25,174 Tooling 20,156 19,537 Computers and software 15,971 14,581 Furniture and office equipment 12,006 11,389 Construction in progress 6,528 4,632 Tradeshow equipment and other 6,448 4,136 Gross property and equipment 130,435 120,290 Less: Accumulated depreciation and amortization (63,910 ) (50,240 ) Property and equipment, net $ 66,525 $ 70,050 In June 2016, the Company committed to a plan to vacate and sublet certain leased office facilities that are auxiliary to our main headquarters. Changes in estimated useful life of associated leasehold improvements and office equipment are expected to result in accelerated depreciation expense of approximately $7 million over the next 13 months, including approximately $4 million in the third quarter of 2016 and approximately $3 million ratably over the remaining period. Intangible assets and goodwill June 30, 2016 (in thousands) Gross carrying value Accumulated amortization Net carrying value Purchased technology $ 48,184 $ (12,486 ) $ 35,698 In-process research and development (IPR&D) 10,375 — 10,375 Total intangible assets $ 58,559 $ (12,486 ) $ 46,073 December 31, 2015 (in thousands) Gross carrying value Accumulated Net carrying value Purchased technology $ 32,952 $ (8,540 ) $ 24,412 IPR&D 6,615 — 6,615 Total intangible assets $ 39,567 $ (8,540 ) $ 31,027 Purchased technology acquired in 2016 has an estimated useful life of four years. As of June 30, 2016 , technological feasibility has not been established for IPR&D assets, which have no alternative future use and, as such, continue to be accounted for as indefinite-lived intangible assets. Amortization expense was $3.9 million and $1.2 million in the six months ended June 30, 2016 and 2015 , respectively. At June 30, 2016 , the expected amortization expense of amortizable intangible assets for future periods is as follows: (in thousands) Total Year ending December 31, 2016 (remaining 6 months) $ 5,075 2017 9,388 2018 8,452 2019 7,669 2020 4,244 Thereafter 870 $ 35,698 The carrying amount of goodwill was $146.5 million and $57.1 million as of June 30, 2016 and December 31, 2015 , respectively. The increase in 2016 was entirely attributable to the acquisitions described above in Note 2. Accrued liabilities (in thousands) June 30, December 31, Accrued payables $ 70,083 $ 64,831 Excess purchase order commitments 12,172 38,477 Accrued sales incentive 20,020 29,298 Employee related liabilities 25,590 26,491 Warranty liability 8,594 10,400 Customer deposits 4,127 8,877 Income taxes payable 3,070 7,536 Other 7,446 6,536 Accrued liabilities $ 151,102 $ 192,446

Financing Arrangements

Financing Arrangements	6 Months Ended
	Jun. 30, 2016
Debt Disclosure [Abstract]
Financing Arrangements	Financing Arrangements In March 2016, the Company entered into a Credit Agreement (Credit Agreement) with JPMorgan Chase Bank, N.A., as administrative agent, Wells Fargo Bank, National Association, as co-agent, and the lender parties thereto. The Credit Agreement provides for a secured revolving credit facility (Credit Facility) under which the Company may borrow up to an aggregate of $250 million and the Company and lenders may increase the total commitments under the Credit Facility to up to $300 million , subject to certain conditions. The Credit Facility will terminate, and all outstanding borrowings become due and payable, in March 2021. The amount that may be borrowed under the Credit Facility is based upon a borrowing base formula with respect to the Company’s inventory and accounts receivable balances. Borrowed funds accrue interest, at the Company’s election, based on an annual rate of (a) London Interbank Offered Rate (LIBOR) or (b) the administrative agent’s base rate, plus an applicable margin of between 1.50% and 2.00% for LIBOR rate loans, and between 0.50% and 1.00% for base rate loans, depending on the level of utilization of the Credit Facility. The Company is required to pay a commitment fee on the unused portion of the Credit Facility of 0.25% or 0.375% per annum, based on the level of utilization of the Credit Facility. Amounts owing under the Credit Agreement and related credit documents are guaranteed by the Company and its material subsidiaries. The Company and its U.S., Cayman and Netherlands subsidiaries have also granted security interests in substantially all of their assets to collateralize these obligations. The Credit Agreement contains customary affirmative covenants, such as financial statement reporting requirements and delivery of borrowing base certificates, as well as customary covenants that limit the ability of the Company and its subsidiaries to, among other things, pay dividends, incur debt, create liens and encumbrances, make investments and redeem or repurchase stock. The Company is required to maintain a minimum fixed charge coverage ratio if and when the unborrowed availability under the Credit Facility is less than the greater of $25.0 million or 10.0% of the borrowing base at such time. The Credit Agreement contains customary events of default, such as the failure to pay obligations when due, initiation of bankruptcy or insolvency proceedings, defaults on certain other indebtedness, change of control or breach of representations and warranties or covenants. Upon an event of default, the lenders may, subject to customary cure rights, require the immediate payment of all amounts outstanding and foreclose on collateral. As of June 30, 2016, the Company may borrow up to approximately $82 million under the Credit Facility. No borrowings have been made from the Credit Facility to date. As of June 30, 2016 , the Company was in compliance with all financial covenants contained in the Credit Agreement.

Stockholders' equity

Stockholders' equity	6 Months Ended
	Jun. 30, 2016
Stockholders' Equity Attributable to Parent [Abstract]
Stockholders' equity	Stockholders' equity Stock repurchase program . On September 30, 2015, the Company's board of directors authorized a program to repurchase up to $300 million of the Company's Class A common stock. The repurchase program, which expires in September 2016, does not obligate the Company to acquire any specific number of shares and may be discontinued or extended at any time by the board of directors. Share repurchases under the program may be made from time-to-time through open market transactions, block trades, privately negotiated transactions or otherwise, including under plans complying with both Rule 10b-18 and Rule 10b5-1 under the Securities Exchange Act of 1934, as amended. At June 30, 2016 and December 31, 2015 , the Company had a remaining share repurchase authorization of $264.4 million . The Company has recorded its repurchased shares as treasury stock. CEO stock contributions. In the first six months of 2015, the CEO contributed an aggregate 5.2 million shares of Class B common stock to the Company without consideration per the terms of a Contribution Agreement dated December 28, 2011, and amended on May 11, 2015, representing all of the then remaining shares subject to the contribution obligations. These shares contributed by the CEO were retired during 2015. Refer to the audited financial statements contained in the Company's 2015 Annual Report.

Employee benefit plans

Employee benefit plans	6 Months Ended
	Jun. 30, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Employee benefit plans	Employee benefit plans Equity incentive plans . The Company has outstanding equity grants from its three stock-based employee compensation plans: the 2014 Equity Incentive Plan (2014 Plan), the 2010 Equity Incentive Plan (2010 Plan) and the 2014 Employee Stock Purchase Plan (ESPP). No new options or awards have been granted under the 2010 Plan since June 2014. Outstanding options and awards under the 2010 Plan continue to be subject to the terms and conditions of the 2010 Plan. Options granted under the 2014 Plan generally expire within 10 years from the date of grant and generally vest over four years . Restricted stock units (RSUs) granted under the 2014 Plan generally vest annually over a four year period based upon continued service and are settled at vesting in shares of the Company's Class A common stock. The ESPP allows eligible employees to purchase shares of the Company's Class A common stock through payroll deductions at a price equal to 85% of the lesser of the fair market value of the stock as of the first date or the ending date of each six month offering period. For additional information regarding the Company's equity incentive plans, please refer to the audited financial statements contained in its 2015 Annual Report. S tock options A summary of the Company’s stock option activity for the six months ended June 30, 2016 and related information is as follows: Options outstanding Shares (in thousands) Weighted- average Weighted- Aggregate Outstanding at December 31, 2015: 13,081 $ 11.82 6.70 $ 108,846 Granted 2,405 11.16 Exercised (947 ) 1.56 Forfeited/Cancelled (820 ) 18.67 Outstanding at June 30, 2016: 13,719 $ 12.01 6.57 $ 49,301 Exercisable at June 30, 2016 8,230 $ 8.28 5.64 $ 48,772 Vested and expected to vest at June 30, 2016 13,427 $ 11.90 6.53 $ 49,267 The aggregate intrinsic value of the stock options outstanding as of June 30, 2016 represents the value of the Company's closing stock price on June 30, 2016 in excess of the exercise price multiplied by the number of options outstanding. Restricted stock units A summary of the Company’s RSU activity for the six months ended June 30, 2016 is as follows: Shares (in thousands) Weighted- average grant date fair value Non-vested shares at December 31, 2015 4,638 $ 32.15 Granted 5,672 11.58 Vested (715 ) 22.01 Forfeited (814 ) 25.08 Non-vested shares at June 30, 2016 8,781 $ 20.35 In June 2014, the Company granted an award of 4.5 million RSUs covering shares of the Company's Class B common stock to the Company's CEO (CEO RSUs), which included 1.5 million RSUs that vested immediately upon grant and 3.0 million RSUs that were subject to both a market-based vesting condition and a service-based vesting condition. The market-based condition was achieved in January 2015. Stock-based compensation expense related to the CEO RSUs was $4.2 million and $21.8 million for the six months ended June 30, 2016 and 2015 , respectively. Employee stock purchase plan (ESPP) In the six months ended June 30, 2016 and 2015 , the Company issued 431,673 and 313,233 shares under its ESPP at weighted average prices of $8.76 and $20.40 , respectively. The weighted-average fair value of each right to purchase shares of the Company's Class A common stock granted under the ESPP for these periods was $3.49 and $16.56 , respectively. Stock-based compensation expense The Company measures compensation expense for all stock-based payment awards based on the estimated fair values on the date of the grant. The fair value of stock options granted and ESPP issuances is estimated using the Black-Scholes option pricing model. The fair value of RSUs is determined using the Company's closing stock price on the date of grant. There have been no significant changes in the Company’s valuation assumptions from those disclosed in its 2015 Annual Report. The following table summarizes stock-based compensation included in the condensed consolidated statements of operations: Three months ended Six months ended (in thousands) June 30, June 30, June 30, June 30, Cost of revenue $ 412 $ 350 $ 769 $ 633 Research and development 7,086 3,710 13,096 7,245 Sales and marketing 3,679 2,932 6,883 5,998 General and administrative 6,227 11,197 12,387 30,814 Total stock-based compensation expense, before income taxes 17,404 18,189 33,135 44,690 Total tax benefit recognized (5,386 ) (6,240 ) (10,150 ) (15,544 ) Total stock-based compensation expense, net of income taxes $ 12,018 $ 11,949 $ 22,985 $ 29,146 At June 30, 2016 , there was total unearned stock-based compensation of $169.4 million related to stock options, RSUs and ESPP, which is expected to be recognized over a weighted average period of 2.9 years.

Net income (loss) per share

Net income (loss) per share	6 Months Ended
	Jun. 30, 2016
Earnings Per Share [Abstract]
Net income per share attributable to common stockholders	Net income (loss) per share Basic net income (loss) per share is computed by dividing the net income (loss) by the weighted-average number of common shares outstanding during the period. Diluted net income (loss) per share is computed by dividing net income (loss) by the weighted-average number of common shares outstanding, including all potentially dilutive common shares. The rights of the holders of Class A and Class B common stock are identical, except with respect to voting and conversion. Each share of Class A common stock is entitled to one vote per share and each share of Class B common stock is entitled to ten votes per share. Each share of Class B common stock is convertible at any time at the option of the stockholder into one share of Class A common stock and has no expiration date. Each share of Class B common stock will convert automatically into one share of Class A common stock upon the date when the outstanding shares of Class B common stock represent less than 10% of the aggregate number of shares of common stock then outstanding. Class A common stock is not convertible into Class B common stock. Undistributed earnings are allocated based on the contractual participation rights of Class A and Class B common stock as if the earnings for the year have been distributed. As the liquidation and dividend rights are identical, the undistributed earnings are allocated on a proportionate basis. The computation of the diluted net income (loss) per share of Class A common stock assumes the conversion of Class B common stock. The following table presents the calculations of basic and diluted net income (loss) per share: Three months ended Six months ended (in thousands, except per share data) June 30, June 30, June 30, June 30, Numerator: Net income (loss) $ (91,767 ) $ 35,031 $ (199,226 ) $ 51,783 Denominator: Weighted-average common shares—basic for Class A and Class B common stock 138,942 133,150 138,243 132,716 Effect of potentially dilutive shares — 13,631 — 15,004 Weighted-average common shares—diluted for Class A and Class B common stock 138,942 146,781 138,243 147,720 Net income (loss) per share: Basic $ (0.66 ) $ 0.26 $ (1.44 ) $ 0.39 Diluted $ (0.66 ) $ 0.24 $ (1.44 ) $ 0.35 The following potentially dilutive shares were not included in the calculation of diluted shares outstanding as the effect would have been anti-dilutive: Three months ended Six months ended (in thousands) June 30, June 30, June 30, June 30, Stock options, ESPP shares and RSUs 21,391 1,814 19,848 1,983

Income taxes

Income taxes	6 Months Ended
	Jun. 30, 2016
Income Tax Disclosure [Abstract]
Income taxes	Income taxes The Company's tax provision for interim periods is determined using an estimate of its annual effective tax rate, adjusted for discrete items arising in that quarter. In each quarter, the Company updates its estimate of the annual effective tax rate, and if the estimated annual tax rate changes, a cumulative adjustment is made in that quarter. Three months ended Six months ended (dollars in thousands) June 30, June 30, June 30, June 30, Income tax expense (benefit) $ (16,950 ) $ 11,229 $ (31,233 ) $ 14,501 Effective tax rate 15.6 % 24.3 % 13.6 % 21.9 % The Company recorded an income tax benefit of $17.0 million for the three months ended June 30, 2016 due to a pre-tax net loss, which resulted in an effective tax rate of 15.6% . The lower effective tax rates for the three and six months ended June 30, 2016 compared to 2015 resulted from the Company providing a net tax benefit on pre-tax losses in the United States, which was offset by income taxes paid at lower rates in profitable foreign jurisdictions (primarily Europe). The Company's provision for income taxes in each period has differed from the tax computed at U.S. federal statutory tax rates due to state taxes, the effect of non-U.S. operations, deductible and non-deductible stock-based compensation expense, federal research and development tax credits, and adjustments to unrecognized tax benefits. The Company is currently under examination by the Internal Revenue Service for the 2012 through 2014 tax years. The Company is not able to estimate the potential impact that the examination may have on income tax expense. If the examination is resolved unfavorably, there is a possibility it may have a material negative impact on the Company's results of operations. The California Franchise Tax Board has completed an examination for the 2011 and 2012 tax years and the effect on income tax expense was immaterial. At June 30, 2016 and December 31, 2015 , the Company’s gross unrecognized tax benefits was $51.4 million and $36.3 million , respectively. If recognized, $31.2 million of these unrecognized tax benefits (net of U.S. federal benefit) at June 30, 2016 would be recorded as a reduction of future income tax provision. These unrecognized tax benefits relate primarily to unresolved matters with taxing authorities regarding the Company’s transfer pricing positions and tax positions based on the Company’s interpretation of certain U.S. trial and appellate court decisions, which remain subject to appeal and therefore could be overturned in future periods. The Company’s existing tax positions will continue to generate an increase in unrecognized tax benefits in subsequent periods. Management believes events that could occur in the next 12 months and cause a material change in unrecognized tax benefits include, but are not limited to, the completion of examinations by the U.S. or foreign taxing authorities and the expiration of statute of limitations on the Company's tax returns. Although the completion, settlement and closure of any audits is uncertain, it is reasonably possible that the total amount of unrecognized tax benefits will materially increase within the next 12 months. However, given the number of years remaining that are subject to examination, the range of the reasonably possible change cannot be estimated reliably.

Related parties

Related parties	6 Months Ended
	Jun. 30, 2016
Related Party Transactions [Abstract]
Related parties	Related parties The Company has agreements for certain contract manufacturing and engineering services with a vendor affiliated with one of the Company's investors. The Company recorded no expense and $0.2 million in the six months ended June 30, 2016 and 2015 , respectively, for services rendered. As of June 30, 2016 and December 31, 2015 , the Company had no accounts payable associated with this vendor. The Company incurs costs for Company-related chartered aircraft fees for the use of the CEO’s private plane. The Company recorded expense of $0.6 million and $0.7 million in the six months ended June 30, 2016 and 2015 , respectively. As of June 30, 2016 and December 31, 2015 , the Company had accounts payable associated with this vendor of zero and $0.1 million , respectively. In 2013, the Company entered into a three -year agreement, which was amended in July 2016 to continue through the end of 2016, with a company affiliated with the son of one of the members of the Company's board of directors to acquire certain naming rights to a kart racing facility. As consideration for these naming rights, the Company would pay a total of $0.5 million over the three year period. As of June 30, 2016 , the Company has recorded cumulative expense of $0.5 million , and has also provided 100 GoPro cameras at no cost each year. See Notes 6 and 7 above for information regarding CEO RSUs and Class B common stock contributed by the CEO back to the Company.

Commitments, contingencies and

Commitments, contingencies and guarantees	6 Months Ended
	Jun. 30, 2016
Commitments and Contingencies Disclosure [Abstract]
Commitments, contingencies and guarantees	Commitments, contingencies and guarantees Facility Leases. The Company leases its facilities under long-term operating leases, which expire at various dates through 2027. As of December 31, 2015, the Company’s total future minimum lease payments under noncancelable operating leases were $152.2 million . In June 2016, the Company entered into a sub-lease agreement for one of its office facilities that decreased the Company’s total future minimum lease payments by sub-lease rentals of approximately $5 million , which approximates the corresponding remaining lease rentals. The Company has not entered into any new material lease commitments during the six months ended June 30, 2016 . Rent expense was $9.8 million and $4.9 million for the six months ended June 30, 2016 and 2015 , respectively. Other Commitments. In the ordinary course of business, the Company also enters into multi-year agreements to purchase sponsorships with event organizers, resorts and athletes as part of its marketing efforts; software licenses related to its financial and IT systems; manufacturing equipment for tooling and molds; and various other contractual commitments. In May 2016, the Company entered into a 3.5 year agreement with Red Bull GmbH (Red Bull) that includes content production, distribution and cross-promotion. As part of the agreement, Red Bull will receive equity and cash consideration over the term of the agreement. During the second quarter of 2016, the Company issued unregistered restricted shares of its Class A common stock to Red Bull with a fair value of approximately $7 million . As of June 30, 2016 and December 31, 2015 , the Company's total undiscounted future expected obligations under these multi-year agreements described above were approximately $67 million and $28.8 million , respectively. The increase in 2016 was primarily attributable to the Red Bull agreement described above and new software licenses unrelated to the Red Bull agreement. Legal proceedings. From time to time, the Company is involved in legal proceedings in the ordinary course of business, including the litigation matters described in Part II, Item 1 of this Quarterly Report on Form 10-Q. Due to inherent uncertainties of litigation, the Company cannot accurately predict the ultimate outcome of these matters. The Company is unable at this time to determine whether the outcome of the litigation would have a material impact on the results of operations, financial condition or cash flows of the Company. Indemnifications. In the normal course of business, the Company enters into agreements that contain a variety of representations and warranties and provide for general indemnification. The Company’s exposure under these agreements is unknown because it involves claims that may be made against the Company in the future, but have not yet been made. It is not possible to determine the maximum potential amount under these indemnification agreements due to the Company’s limited history with indemnification claims and the unique facts and circumstances involved in each particular agreement. As of June 30, 2016 , the Company has not paid any claims or been required to defend any action related to its indemnification obligations. However, the Company may record charges in the future as a result of these indemnification obligations. Product warranty The following table summarizes the warranty liability activity: Three months ended Six months ended (in thousands) June 30, June 30, June 30, June 30, Beginning balances $ 8,011 $ 8,969 $ 10,855 $ 6,405 Charged to cost of revenue 5,871 5,309 8,541 11,353 Settlements of warranty claims (4,943 ) (5,559 ) (10,457 ) (9,039 ) Ending balances $ 8,939 $ 8,719 $ 8,939 $ 8,719 At June 30, 2016 , $8.6 million of the warranty liability was recorded as an element of accrued liabilities and $0.3 million was recorded as an element of other long-term liabilities.

Concentrations of risk and geog

Concentrations of risk and geographic information	6 Months Ended
	Jun. 30, 2016
Risks and Uncertainties [Abstract]
Concentrations of risk and segment information	Concentrations of risk and geographic information Customer concentration . Financial instruments, which potentially subject the Company to concentrations of credit risk, consist principally of trade receivables. The Company's management believes that credit risk for accounts receivable is mitigated by the Company's credit evaluation process, relatively short collection terms and dispersion of its customer base. The Company generally does not require collateral and losses on trade receivables have historically been within management’s expectations. Customers who represented 10% or more of the Company's net accounts receivable balance were as follows: June 30, December 31, Customer A 30% 40% Customer B 13% * Customer C 16% 18% * Less than 10% of total accounts receivable for the period indicated The following table summarizes the Company's accounts receivables sold, without recourse, and factoring fees paid: Three months ended Six months ended (in thousands) June 30, June 30, June 30, June 30, Accounts receivable sold $ 43,794 $ 50,416 $ 64,304 $ 85,716 Factoring fees 317 446 459 736 Customers who represented 10% or more of the Company's total revenue were as follows: Three months ended Six months ended June 30, June 30, June 30, June 30, Customer B 21% 16% 18% 14% Customer A 14% * 14% * * Less than 10% of total revenue for the period indicated Supplier concentration. The Company relies on third parties for the supply and manufacture of its cameras and accessories, some of which are sole-source suppliers. The Company's management believes that outsourcing manufacturing enables greater scale and flexibility. As demand and product lines change, the Company periodically evaluates the need and advisability of adding manufacturers to support its operations. In instances where a supply and manufacture agreement does not exist or suppliers fail to perform their obligations, the Company may be unable to find alternative suppliers or satisfactorily deliver its products to its customers on time, if at all. The Company also relies on third parties with whom it outsources supply chain activities related to inventory warehousing, order fulfillment, distribution and other direct sales logistics . Geographic information Revenue by geographic region, based on ship-to destinations, was as follows: Three months ended Six months ended (in thousands) June 30, June 30, June 30, June 30, Americas $ 124,570 $ 212,350 $ 209,875 $ 392,443 Europe, Middle East and Africa (EMEA) 60,714 137,186 120,992 276,265 Asia and Pacific area countries (APAC) 35,471 70,383 73,424 114,320 Total revenue $ 220,755 $ 419,919 $ 404,291 $ 783,028 Revenue in the United States, which is included in the Americas geographic region, was $188.2 million and $344.4 million for the six months ended June 30, 2016 and 2015 , respectively. The Company does not disclose revenue by product category as it does not track sales incentives and other revenue adjustments by product category to report such data. As of June 30, 2016 and December 31, 2015 , long-lived assets, which represent gross property and equipment, located outside the United States, primarily in Hong Kong and China, were $54.1 million and $47.6 million , respectively.

Restructuring charges Restructu

Restructuring charges Restructuring charges	6 Months Ended
	Jun. 30, 2016
Restructuring and Related Activities [Abstract]
Restructuring charges	Restructuring charges On January 12, 2016, the Company adopted a restructuring plan that provided for a reduction in the Company’s global workforce of approximately 7% . The Company incurred aggregate restructuring expenses of $6.5 million in the first quarter of 2016, which primarily included cash-based severance costs. The restructuring plan was substantially completed in the first quarter 2016. As of June 30, 2016 , the remaining accrued liability was not material.

Summary of business and signi19

Summary of business and significant accounting policies (Policies)	6 Months Ended
	Jun. 30, 2016
Accounting Policies [Abstract]
Basis of presentation	Basis of presentation . The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (GAAP). The Company's fiscal year ends on December 31, and its fiscal quarters end on March 31, June 30, and September 30. The condensed consolidated financial statements reflect all adjustments (which are normal and recurring in nature) that management believes are necessary for the fair statement of the Company's financial statements, but are not necessarily indicative of the results expected for the full fiscal year or any other future period. The condensed consolidated balance sheet at December 31, 2015 has been derived from the audited financial statements at that date, but does not include all of the disclosures required by GAAP. This Quarterly Report on Form 10-Q should be read in conjunction with the Company's Annual Report on Form 10-K (Annual Report) for the year ended December 31, 2015 . There have been no significant changes in the Company’s accounting policies from those disclosed in its Annual Report.
Principles of consolidation	Principles of consolidation. These condensed consolidated financial statements include all the accounts of the Company and its wholly-owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation.
Use of estimates	Use of estimates. The preparation of financial statements in accordance with 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. Significant estimates and assumptions made by management include those related to revenue recognition (including sales returns, implied post contract support and marketing allowances), stock-based compensation, inventory valuation, product warranty liabilities, the valuation and useful lives of long-lived assets (property and equipment, intangible assets and goodwill) and income taxes. The Company bases its estimates and assumptions on historical experience and on various other factors that it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results could differ materially from management's estimates. To the extent there are material differences between the estimates and the actual results, future results of operations could be affected.
Comprehensive income	Comprehensive income (loss). For all periods presented, comprehensive income (loss) approximated net income (loss). Therefore, the condensed consolidated statements of comprehensive income (loss) have been omitted
Prior period reclassifications	Prior period reclassifications. Reclassifications of certain prior period amounts in the condensed consolidated financial statements have been made to conform to the current period presentation.
Recent accounting pronouncements	Recent accounting pronouncements Standard Description Date of adoption Effect on the financial statements or other significant matters Standards that are not yet adopted Accounting Standards Update (ASU) No. 2014-09, 2016-08, 2016-10 and 2016-12, Revenue from Contracts with Customers (Topic 606) In May 2014, the Financial Accounting Standards Board (FASB) issued ASU No. 2014-09 to achieve a consistent application of revenue recognition within the United States, resulting in a single revenue model to be applied by reporting companies under GAAP. Under the new model, recognition of revenue occurs when a customer obtains control of promised goods or services in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The new standard requires that entities disclose the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers. In March 2016, the FASB issued ASU No. 2016-08, which clarifies the implementation guidance for principal versus agent considerations. In April 2016, the FASB issued ASU No. 2016-10, which amends the new standard related to identifying performance obligations and accounting for licenses of intellectual property. In May 2016, the FASB issued ASU No. 2016-12, which clarifies three aspects including the objective of the collectibility criterion, the measurement date for noncash consideration and the requirements for a completed contract. The new standards may be adopted either retrospectively to each prior reporting period presented or as a cumulative effect adjustment as of the date of adoption. January 1, 2018 The Company is evaluating the impact that the adoption of these standards will have on its consolidated financial statements and related disclosures. The Company has not determined whether the effect will be material to its revenue results. ASU No. 2016-02, Leases (Topic 842) This standard requires lessees to put most leases on their balance sheets but recognize the expenses on their income statements in a manner similar to current practice. Lessees would recognize a right-to-use asset and lease liability for all leases with terms of more than 12 months. Recognition, measurement and presentation of expenses will depend on classification as a finance or operating lease. The new standard should be applied on a modified retrospective basis. January 1, 2019 The Company is evaluating the impact that the adoption of this standard will have on its consolidated financial statements and related disclosures. ASU No. 2016-09, Stock Compensation (Topic 718) This standard simplifies certain aspects of the accounting for share-based payment transactions, including income taxes, classification of awards and classification on the statement of cash flows. The new guidance also allows an entity to make a policy election to account for forfeitures as they occur. Early adoption is permitted for an entity in any interim or annual period. If an entity early adopts the amendments in an interim period, any adjustments should be reflected as of the beginning of the fiscal year that includes that interim period. An entity that elects early adoption must adopt all of the amendments in the same period. January 1, 2017 The Company is evaluating the impact that the adoption of this standard will have on its consolidated financial statements and related disclosures. Accounting Standards Update (ASU) No. 2016-13, Credit Losses (Topic 326) The standard requires that entities use a new forward looking “expected loss” model that generally will result in the earlier recognition of allowance for credit losses. The measurement of expected credit losses is based upon historical experience, current conditions, and reasonable and supportable forecasts that affect the collectability of the reported amount. January 1, 2020 The Company is evaluating the impact that the adoption of this standard will have on its consolidated financial statements and related disclosures. Standards that were adopted ASU No. 2015-03 and ASU 2015-15, Interest - Imputation of Interest (Subtopic 835-30) ASU 2015-03 requires that debt issuance costs be presented in the balance sheet as a direct deduction from the carrying amount of the related debt liability, consistent with debt discounts. ASU 2015-15 clarified ASU 2015-03 in that fees related to line-of-credit arrangements should continue to be presented as an asset and subsequently amortized ratably over the term of the line-of-credit arrangement. January 1, 2016 The adoption of these standards did not have a material impact on the Company's consolidated financial statements.

Summary of business and signi20

Summary of business and significant accounting policies (Tables)	6 Months Ended
	Jun. 30, 2016
Accounting Policies [Abstract]
Schedule of recent accounting pronouncements	Recent accounting pronouncements Standard Description Date of adoption Effect on the financial statements or other significant matters Standards that are not yet adopted Accounting Standards Update (ASU) No. 2014-09, 2016-08, 2016-10 and 2016-12, Revenue from Contracts with Customers (Topic 606) In May 2014, the Financial Accounting Standards Board (FASB) issued ASU No. 2014-09 to achieve a consistent application of revenue recognition within the United States, resulting in a single revenue model to be applied by reporting companies under GAAP. Under the new model, recognition of revenue occurs when a customer obtains control of promised goods or services in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The new standard requires that entities disclose the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers. In March 2016, the FASB issued ASU No. 2016-08, which clarifies the implementation guidance for principal versus agent considerations. In April 2016, the FASB issued ASU No. 2016-10, which amends the new standard related to identifying performance obligations and accounting for licenses of intellectual property. In May 2016, the FASB issued ASU No. 2016-12, which clarifies three aspects including the objective of the collectibility criterion, the measurement date for noncash consideration and the requirements for a completed contract. The new standards may be adopted either retrospectively to each prior reporting period presented or as a cumulative effect adjustment as of the date of adoption. January 1, 2018 The Company is evaluating the impact that the adoption of these standards will have on its consolidated financial statements and related disclosures. The Company has not determined whether the effect will be material to its revenue results. ASU No. 2016-02, Leases (Topic 842) This standard requires lessees to put most leases on their balance sheets but recognize the expenses on their income statements in a manner similar to current practice. Lessees would recognize a right-to-use asset and lease liability for all leases with terms of more than 12 months. Recognition, measurement and presentation of expenses will depend on classification as a finance or operating lease. The new standard should be applied on a modified retrospective basis. January 1, 2019 The Company is evaluating the impact that the adoption of this standard will have on its consolidated financial statements and related disclosures. ASU No. 2016-09, Stock Compensation (Topic 718) This standard simplifies certain aspects of the accounting for share-based payment transactions, including income taxes, classification of awards and classification on the statement of cash flows. The new guidance also allows an entity to make a policy election to account for forfeitures as they occur. Early adoption is permitted for an entity in any interim or annual period. If an entity early adopts the amendments in an interim period, any adjustments should be reflected as of the beginning of the fiscal year that includes that interim period. An entity that elects early adoption must adopt all of the amendments in the same period. January 1, 2017 The Company is evaluating the impact that the adoption of this standard will have on its consolidated financial statements and related disclosures. Accounting Standards Update (ASU) No. 2016-13, Credit Losses (Topic 326) The standard requires that entities use a new forward looking “expected loss” model that generally will result in the earlier recognition of allowance for credit losses. The measurement of expected credit losses is based upon historical experience, current conditions, and reasonable and supportable forecasts that affect the collectability of the reported amount. January 1, 2020 The Company is evaluating the impact that the adoption of this standard will have on its consolidated financial statements and related disclosures. Standards that were adopted ASU No. 2015-03 and ASU 2015-15, Interest - Imputation of Interest (Subtopic 835-30) ASU 2015-03 requires that debt issuance costs be presented in the balance sheet as a direct deduction from the carrying amount of the related debt liability, consistent with debt discounts. ASU 2015-15 clarified ASU 2015-03 in that fees related to line-of-credit arrangements should continue to be presented as an asset and subsequently amortized ratably over the term of the line-of-credit arrangement. January 1, 2016 The adoption of these standards did not have a material impact on the Company's consolidated financial statements.

Fair value measurements (Tables

Fair value measurements (Tables)	6 Months Ended
	Jun. 30, 2016
Fair Value Disclosures [Abstract]
Fair Value, Assets Measured on Recurring Basis	The Company’s assets that are measured at fair value on a recurring basis within the fair value hierarchy are summarized as follows: June 30, 2016 December 31, 2015 (in thousands) Level 1 Level 2 Total Level 1 Level 2 Total Cash equivalents (1) : Money market funds $ 36,724 $ — $ 36,724 $ 51,059 $ — $ 51,059 Total cash equivalents $ 36,724 $ — $ 36,724 $ 51,059 $ — $ 51,059 Marketable securities: U.S. agency securities $ — $ 13,391 $ 13,391 $ — $ 14,451 $ 14,451 Commercial paper — — — — 2,197 2,197 Corporate debt securities — 96,165 96,165 — 165,825 165,825 Municipal securities — 6,132 6,132 — 11,913 11,913 Total marketable securities $ — $ 115,688 $ 115,688 $ — $ 194,386 $ 194,386 (1) Included in “cash and cash equivalents” in the accompanying condensed consolidated balance sheets. Cash balances were $126.8 million and $228.6 million as of June 30, 2016 and December 31, 2015 , respectively.
Available-for-sale Securities	The remaining contractual maturities of available-for-sale marketable securities are as follows: (in thousands) June 30, December 31, Less than one year $ 90,612 $ 122,199 Greater than one year but less than two years 25,076 72,187 Total $ 115,688 $ 194,386

Condensed consolidated financ22

Condensed consolidated financial statement details (Tables)	6 Months Ended
	Jun. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Inventory	Inventory (in thousands) June 30, December 31, Components $ 8,190 $ 9,476 Finished goods 81,699 178,756 Total inventory $ 89,889 $ 188,232
Property, Plant and Equipment	Property and equipment, net (in thousands) June 30, December 31, Leasehold improvements $ 42,369 $ 40,841 Production, engineering and other equipment 26,957 25,174 Tooling 20,156 19,537 Computers and software 15,971 14,581 Furniture and office equipment 12,006 11,389 Construction in progress 6,528 4,632 Tradeshow equipment and other 6,448 4,136 Gross property and equipment 130,435 120,290 Less: Accumulated depreciation and amortization (63,910 ) (50,240 ) Property and equipment, net $ 66,525 $ 70,050
Schedule of Finite-Lived Intangible Assets	Intangible assets and goodwill June 30, 2016 (in thousands) Gross carrying value Accumulated amortization Net carrying value Purchased technology $ 48,184 $ (12,486 ) $ 35,698 In-process research and development (IPR&D) 10,375 — 10,375 Total intangible assets $ 58,559 $ (12,486 ) $ 46,073 December 31, 2015 (in thousands) Gross carrying value Accumulated Net carrying value Purchased technology $ 32,952 $ (8,540 ) $ 24,412 IPR&D 6,615 — 6,615 Total intangible assets $ 39,567 $ (8,540 ) $ 31,027
Schedule of Future Amortization	At June 30, 2016 , the expected amortization expense of amortizable intangible assets for future periods is as follows: (in thousands) Total Year ending December 31, 2016 (remaining 6 months) $ 5,075 2017 9,388 2018 8,452 2019 7,669 2020 4,244 Thereafter 870 $ 35,698
Schedule of Accrued Liabilities	Accrued liabilities (in thousands) June 30, December 31, Accrued payables $ 70,083 $ 64,831 Excess purchase order commitments 12,172 38,477 Accrued sales incentive 20,020 29,298 Employee related liabilities 25,590 26,491 Warranty liability 8,594 10,400 Customer deposits 4,127 8,877 Income taxes payable 3,070 7,536 Other 7,446 6,536 Accrued liabilities $ 151,102 $ 192,446

Employee benefit plans (Tables)

Employee benefit plans (Tables)	6 Months Ended
	Jun. 30, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of Share-based Compensation, Stock Options, Activity	A summary of the Company’s stock option activity for the six months ended June 30, 2016 and related information is as follows: Options outstanding Shares (in thousands) Weighted- average Weighted- Aggregate Outstanding at December 31, 2015: 13,081 $ 11.82 6.70 $ 108,846 Granted 2,405 11.16 Exercised (947 ) 1.56 Forfeited/Cancelled (820 ) 18.67 Outstanding at June 30, 2016: 13,719 $ 12.01 6.57 $ 49,301 Exercisable at June 30, 2016 8,230 $ 8.28 5.64 $ 48,772 Vested and expected to vest at June 30, 2016 13,427 $ 11.90 6.53 $ 49,267
Schedule of Share-based Compensation, Restricted Stock Units Award Activity	A summary of the Company’s RSU activity for the six months ended June 30, 2016 is as follows: Shares (in thousands) Weighted- average grant date fair value Non-vested shares at December 31, 2015 4,638 $ 32.15 Granted 5,672 11.58 Vested (715 ) 22.01 Forfeited (814 ) 25.08 Non-vested shares at June 30, 2016 8,781 $ 20.35
Allocation of Stock-based Compensation Expense	The following table summarizes stock-based compensation included in the condensed consolidated statements of operations: Three months ended Six months ended (in thousands) June 30, June 30, June 30, June 30, Cost of revenue $ 412 $ 350 $ 769 $ 633 Research and development 7,086 3,710 13,096 7,245 Sales and marketing 3,679 2,932 6,883 5,998 General and administrative 6,227 11,197 12,387 30,814 Total stock-based compensation expense, before income taxes 17,404 18,189 33,135 44,690 Total tax benefit recognized (5,386 ) (6,240 ) (10,150 ) (15,544 ) Total stock-based compensation expense, net of income taxes $ 12,018 $ 11,949 $ 22,985 $ 29,146

Net income (loss) per share (Ta

Net income (loss) per share (Tables)	6 Months Ended
	Jun. 30, 2016
Earnings Per Share [Abstract]
Schedule of Net Income per Share, Basic and Diluted	The following table presents the calculations of basic and diluted net income (loss) per share: Three months ended Six months ended (in thousands, except per share data) June 30, June 30, June 30, June 30, Numerator: Net income (loss) $ (91,767 ) $ 35,031 $ (199,226 ) $ 51,783 Denominator: Weighted-average common shares—basic for Class A and Class B common stock 138,942 133,150 138,243 132,716 Effect of potentially dilutive shares — 13,631 — 15,004 Weighted-average common shares—diluted for Class A and Class B common stock 138,942 146,781 138,243 147,720 Net income (loss) per share: Basic $ (0.66 ) $ 0.26 $ (1.44 ) $ 0.39 Diluted $ (0.66 ) $ 0.24 $ (1.44 ) $ 0.35
Schedule of Antidilutive Securities Excluded from Computation of Net Income per Share	The following potentially dilutive shares were not included in the calculation of diluted shares outstanding as the effect would have been anti-dilutive: Three months ended Six months ended (in thousands) June 30, June 30, June 30, June 30, Stock options, ESPP shares and RSUs 21,391 1,814 19,848 1,983

Income taxes (Tables)

Income taxes (Tables)	6 Months Ended
	Jun. 30, 2016
Income Tax Disclosure [Abstract]
Schedule of Income before Income Tax, Domestic and Foreign	The Company's tax provision for interim periods is determined using an estimate of its annual effective tax rate, adjusted for discrete items arising in that quarter. In each quarter, the Company updates its estimate of the annual effective tax rate, and if the estimated annual tax rate changes, a cumulative adjustment is made in that quarter. Three months ended Six months ended (dollars in thousands) June 30, June 30, June 30, June 30, Income tax expense (benefit) $ (16,950 ) $ 11,229 $ (31,233 ) $ 14,501 Effective tax rate 15.6 % 24.3 % 13.6 % 21.9 %

Commitments, contingencies an26

Commitments, contingencies and guarantees (Tables)	6 Months Ended
	Jun. 30, 2016
Commitments and Contingencies Disclosure [Abstract]
Schedule of Product Warranty Liability Activity	The following table summarizes the warranty liability activity: Three months ended Six months ended (in thousands) June 30, June 30, June 30, June 30, Beginning balances $ 8,011 $ 8,969 $ 10,855 $ 6,405 Charged to cost of revenue 5,871 5,309 8,541 11,353 Settlements of warranty claims (4,943 ) (5,559 ) (10,457 ) (9,039 ) Ending balances $ 8,939 $ 8,719 $ 8,939 $ 8,719

Concentrations of risk and ge27

Concentrations of risk and geographic information (Tables)	6 Months Ended
	Jun. 30, 2016
Concentration Risk [Line Items]
Schedule of Accounts, Notes, Loans and Financing Receivable	The following table summarizes the Company's accounts receivables sold, without recourse, and factoring fees paid: Three months ended Six months ended (in thousands) June 30, June 30, June 30, June 30, Accounts receivable sold $ 43,794 $ 50,416 $ 64,304 $ 85,716 Factoring fees 317 446 459 736
Schedule of Revenue by Geographic Region	Revenue by geographic region, based on ship-to destinations, was as follows: Three months ended Six months ended (in thousands) June 30, June 30, June 30, June 30, Americas $ 124,570 $ 212,350 $ 209,875 $ 392,443 Europe, Middle East and Africa (EMEA) 60,714 137,186 120,992 276,265 Asia and Pacific area countries (APAC) 35,471 70,383 73,424 114,320 Total revenue $ 220,755 $ 419,919 $ 404,291 $ 783,028
Accounts Receivable [Member]
Concentration Risk [Line Items]
Schedules of Customer Concentration by Risk Factor	Customers who represented 10% or more of the Company's net accounts receivable balance were as follows: June 30, December 31, Customer A 30% 40% Customer B 13% * Customer C 16% 18% * Less than 10% of total accounts receivable for the period indicated
Sales Revenue [Member]
Concentration Risk [Line Items]
Schedules of Customer Concentration by Risk Factor	Customers who represented 10% or more of the Company's total revenue were as follows: Three months ended Six months ended June 30, June 30, June 30, June 30, Customer B 21% 16% 18% 14% Customer A 14% * 14% * * Less than 10% of total revenue for the period indicated

(Details)

(Details) $ in Thousands	6 Months Ended
	Jun. 30, 2016USD ($)business_acquisition	Jun. 30, 2015USD ($)	Dec. 31, 2015USD ($)
Business Acquisition [Line Items]
Cash consideration	$ 104,353	$ 57,706
Goodwill	$ 146,459		$ 57,095
Series of Individually Immaterial Business Acquisitions [Member]
Business Acquisition [Line Items]
Number of businesses acquired | business_acquisition	2
Cash consideration	$ 104,000
Identifiable intangible assets	17,400
Net deferred tax liabilities	3,400
Goodwill	89,000
Deferred cash and stock compensation	$ 37,000

Fair value measurements (Detail

Fair value measurements (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	$ 115,688	$ 194,386
Cash and cash equivalents	126,800	228,600
Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	36,724	51,059
Marketable securities	115,688	194,386
Marketable securities with contractual maturity of one year or less	90,612	122,199
Marketable securities with contractual maturity of one to two years	25,076	72,187
Fair Value, Measurements, Recurring [Member] | US Agency Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	13,391	14,451
Fair Value, Measurements, Recurring [Member] | Commercial Paper [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	0	2,197
Fair Value, Measurements, Recurring [Member] | Corporate Debt Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	96,165	165,825
Fair Value, Measurements, Recurring [Member] | Municipal Notes [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	6,132	11,913
Fair Value, Measurements, Recurring [Member] | Money Market Funds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	36,724	51,059
Fair Value, Measurements, Recurring [Member] | Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	36,724	51,059
Marketable securities	0	0
Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | US Agency Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	0	0
Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | Commercial Paper [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	0	0
Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | Corporate Debt Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	0	0
Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | Municipal Notes [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	0	0
Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | Money Market Funds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	36,724	51,059
Fair Value, Measurements, Recurring [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	0	0
Marketable securities	115,688	194,386
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | US Agency Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	13,391	14,451
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Commercial Paper [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	0	2,197
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Corporate Debt Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	96,165	165,825
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Municipal Notes [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities	6,132	11,913
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Money Market Funds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	$ 0	$ 0

Condensed consolidated financ30

Condensed consolidated financial statement details - Inventory (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Components	$ 8,190	$ 9,476
Finished goods	81,699	178,756
Total inventory	$ 89,889	$ 188,232

Condensed consolidated financ31

Condensed consolidated financial statement details - Property and Equipment, Net (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Property, Plant and Equipment [Line Items]
Gross property and equipment	$ 130,435	$ 120,290
Less: Accumulated depreciation and amortization	(63,910)	(50,240)
Property and equipment, net	66,525	70,050
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Gross property and equipment	42,369	40,841
Production, engineering and other equipment [Member]
Property, Plant and Equipment [Line Items]
Gross property and equipment	26,957	25,174
Tooling [Member]
Property, Plant and Equipment [Line Items]
Gross property and equipment	20,156	19,537
Computers and software [Member]
Property, Plant and Equipment [Line Items]
Gross property and equipment	15,971	14,581
Furniture and office equipment [Member]
Property, Plant and Equipment [Line Items]
Gross property and equipment	12,006	11,389
Construction in Progress [Member]
Property, Plant and Equipment [Line Items]
Gross property and equipment	6,528	4,632
Tradeshow Equipment and other [Member]
Property, Plant and Equipment [Line Items]
Gross property and equipment	6,448	$ 4,136
Leasehold Improvements and Office Equipment [Member]
Property, Plant and Equipment [Line Items]
Expected accelerated depreciation, next 13 months	7,000
Expected accelerated depreciation, next quarter	4,000
Expected accelerated depreciation, remaining period	$ 3,000

Condensed consolidated financ32

Condensed consolidated financial statement details - Intangible Assets and Goodwill (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
Finite-Lived Intangible Assets, Net [Abstract]
Gross carrying value	$ 48,184		$ 32,952
Accumulated amortization	(12,486)		(8,540)
Net carrying value	35,698		24,412
Indefinite lived intangible assets	10,375		6,615
Intangible Assets, Gross (Excluding Goodwill)	58,559		39,567
Intangible assets, net	$ 46,073		31,027
Estimated useful life (in years)	4 years
Amortization of intangible assets	$ 3,900	$ 1,200
Goodwill	$ 146,459		$ 57,095

Condensed consolidated financ33

Condensed consolidated financial statement details - Future Amortization (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
2016 (remaining 6 months)	$ 5,075
2,017	9,388
2,018	8,452
2,019	7,669
2,020	4,244
Thereafter	870
Net carrying value	$ 35,698	$ 24,412

Condensed consolidated financ34

Condensed consolidated financial statement details - Accrued Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accrued payables	$ 70,083	$ 64,831
Excess purchase order commitments	12,172	38,477
Accrued sales incentive	20,020	29,298
Employee related liabilities	25,590	26,491
Warranty liability	8,594	10,400
Customer deposits	4,127	8,877
Income taxes payable	3,070	7,536
Other	7,446	6,536
Total accrued liabilities	$ 151,102	$ 192,446

Condensed consolidated financ35

Condensed consolidated financial statement details - Goodwill (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Business Combination, Goodwill [Abstract]
Goodwill	$ 146,459	$ 57,095

Financing Arrangements (Details

Financing Arrangements (Details) - Revolving Credit Facility [Member] - USD ($)	1 Months Ended
	Mar. 31, 2016	Jun. 30, 2016
Line of Credit Facility [Line Items]
Credit agreement, current borrowing capacity	$ 250,000,000
Credit agreement, maximum borrowing capacity	300,000,000
Minimum fixed charge coverage ratio, minimum balance	$ 25,000,000
Minimum fixed charge coverage ratio, minimum percent	10.00%
Borrowing capacity at quarter end		$ 82,000,000
Amount outstanding		$ 0
Minimum [Member]
Line of Credit Facility [Line Items]
Unused capacity commitment fee	0.25%
Maximum [Member]
Line of Credit Facility [Line Items]
Unused capacity commitment fee	0.375%
London Interbank Offered Rate (LIBOR) [Member] | Minimum [Member]
Line of Credit Facility [Line Items]
Basis spread on variable rate	1.50%
London Interbank Offered Rate (LIBOR) [Member] | Maximum [Member]
Line of Credit Facility [Line Items]
Basis spread on variable rate	2.00%
Base Rate [Member] | Minimum [Member]
Line of Credit Facility [Line Items]
Basis spread on variable rate	0.50%
Base Rate [Member] | Maximum [Member]
Line of Credit Facility [Line Items]
Basis spread on variable rate	1.00%

Stockholders' equity (Details)

Stockholders' equity (Details) - USD ($)	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2016	Dec. 31, 2015	Sep. 30, 2015
Class of Stock [Line Items]
Authorized amount				$ 300,000,000
Remaining authorized repurchase amount		$ 264,400,000	$ 264,400,000
Chief Executive Officer (CEO) [Member] | Common Class B [Member]
Class of Stock [Line Items]
Shares contributed to company without consideration	5,218,180

Employee benefit plans - Narrat

Employee benefit plans - Narrative (Details) - USD ($) $ / shares in Units, $ in Millions	1 Months Ended	6 Months Ended
	Jun. 30, 2014	Jun. 30, 2016	Jun. 30, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of stock-based employee compensation plans		3
Unearned stock-based compensation, expected recognition period		2 years 10 months 17 days
Employee Stock Ownership Plan (ESOP), Plan Description		P6M
ESPP stock issued during period (shares)		431,673	313,233
ESPP weighted average purchase price of shares purchased (usd per share)		$ 8.76	$ 20.40
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unearned stock-based compensation, expected recognition period		10 years
Award vesting period		4 years
RSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period		4 years
Shares granted (shares)		5,672,000
Weighted average price of shares granted (usd per share)		$ 11.58
RSUs [Member] | Chief Executive Officer (CEO) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted (shares)	4,500,000
RSUs [Member] | Vested Immediately [Member] | Chief Executive Officer (CEO) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted (shares)	1,500,000
RSUs [Member] | Share-based Compensation Award, Tranche Two [Member] | Chief Executive Officer (CEO) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted (shares)	3,000,000
Allocated share-based compensation expense		$ 4.2	$ 21.8
Employee Stock Purchase Plan Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Purchase price of common stock as percentage of fair value of Company common stock (percent)		85.00%
Weighted average price of shares granted (usd per share)		$ 3.49	$ 16.56
Stock Options, ESPP and Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unearned stock-based compensation costs		$ 169.4

Employee benefit plans - Stock

Employee benefit plans - Stock Option Activity (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2016	Dec. 31, 2015
Shares (in thousands)
Outstanding at beginning of period (shares)	13,081
Granted (shares)	2,405
Exercised (shares)	(947)
Forfeited/Cancelled (shares)	(820)
Outstanding at end of period (shares)	13,719	13,081
Weighted- average exercise price
Outstanding at beginning of period (in dollars per share)	$ 11.82
Granted (usd per share)	11.16
Exercised (usd per share)	1.56
Forfeited/Cancelled (usd per share)	18.67
Outstanding at end of period (in dollars per share)	$ 12.01	$ 11.82
Weighted- average remaining contractual term (in years)	6 years 6 months 26 days	6 years 8 months 12 days
Aggregate intrinsic value (in thousands)	$ 49,301	$ 108,846
Exercisable (shares)	8,230
Exercisable - Weighted average exercise price (in dollars per share)	$ 8.28
Exercisable - Weighted-average remaining contractual term	5 years 7 months 21 days
Exercisable - Aggregate intrinsic value	$ 48,772
Vested and expected to vest (shares)	13,427
Vested and expected to vest - Weighted average exercise price (in dollars per share)	$ 11.90
Vested and expected to vest - Weighted average remaining contractual term	6 years 6 months 11 days
Vested and expected to vest - Aggregate intrinsic value	$ 49,267

Employee benefit plans - Restri

Employee benefit plans - Restricted Stock Units Activity (Details) - RSUs [Member] shares in Thousands	6 Months Ended
	Jun. 30, 2016$ / sharesshares
Shares (in thousands)
Non-vested shares at beginning of period (shares) | shares	4,638
Granted (shares) | shares	5,672
Vested (shares) | shares	(715)
Forfeited (shares) | shares	(814)
Non-vested shares at end of period (shares) | shares	8,781
Weighted- average grant date fair value
Non-vested shares at beginning of period (in dollars per share) | $ / shares	$ 32.15
Weighted average price of shares granted (usd per share) | $ / shares	11.58
Weighted average price of shares vested (usd per share) | $ / shares	22.01
Weighted average price of shares forfeited (usd per share) | $ / shares	25.08
Non-vested shares at end of period (in dollars per share) | $ / shares	$ 20.35

Employee benefit plans - Alloca

Employee benefit plans - Allocation of Stock-based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense, before income taxes	$ 17,404	$ 18,189	$ 33,135	$ 44,690
Total tax benefit recognized	(5,386)	(6,240)	(10,150)	(15,544)
Total stock-based compensation expense, net of income taxes	12,018	11,949	22,985	29,146
Cost of Revenue [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense, before income taxes	412	350	769	633
Research and Development [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense, before income taxes	7,086	3,710	13,096	7,245
Selling and Marketing [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense, before income taxes	3,679	2,932	6,883	5,998
General and Administrative [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense, before income taxes	$ 6,227	$ 11,197	$ 12,387	$ 30,814

Net income (loss) per share - A

Net income (loss) per share - Additional Information (Details)	6 Months Ended
	Jun. 30, 2016shares
Class A [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Common Stock, Voting Rights, Number	1
Conversion of Stock, Shares Issued	1
Class B [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Common Stock, Voting Rights, Number	10

Net income (loss) per share - B

Net income (loss) per share - Basic and Diluted Net Income per Share Attributable to Common Stockholders (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Numerator:
Net income (loss)	$ (91,767)	$ 35,031	$ (199,226)	$ 51,783
Denominator:
Weighted-average common shares—basic for Class A and Class B common stock (shares)	138,942	133,150	138,243	132,716
Effect of potentially dilutive shares (shares)	0	13,631	0	15,004
Weighted-average common shares—diluted for Class A and Class B common stock (shares)	138,942	146,781	138,243	147,720
Net income per share attributable to common stockholders - Basic (in dollars per share)	$ (0.66)	$ 0.26	$ (1.44)	$ 0.39
Net income per share attributable to common stockholders - Diluted (in dollars per share)	$ (0.66)	$ 0.24	$ (1.44)	$ 0.35

Net income (loss) per share -44

Net income (loss) per share - Antidilutive Securities Excluded from Computation of Net Income per Share (Details) - shares shares in Thousands	3 Months Ended		12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015	Dec. 31, 2013
Earnings Per Share [Abstract]
Antidilutive securities excluded from computation of earnings per share (shares)	21,391	1,814	19,848	1,983

Income taxes - Income Before In

Income taxes - Income Before Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Income Tax Disclosure [Abstract]
Income tax expense (benefit)	$ (16,950)	$ 11,229	$ (31,233)	$ 14,501
Effective tax rate	15.60%	0.00%	13.60%	0.00%

Income taxes (Details)

Income taxes (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
Income Tax Disclosure [Abstract]
Income tax expense (benefit)	$ (16,950)	$ 11,229	$ (31,233)	$ 14,501
Effective tax rate	15.60%	0.00%	13.60%	0.00%
Unrecognized Tax Benefits	$ 51,400		$ 51,400		$ 36,300
Unrecognized tax benefits that would be recorded as reduction in income tax provision, if recognized	$ 31,200		$ 31,200

Related parties (Details)

Related parties (Details)	6 Months Ended		9 Months Ended	12 Months Ended
	Jun. 30, 2016USD ($)Device	Jun. 30, 2015USD ($)	Sep. 30, 2015USD ($)	Dec. 31, 2013	Dec. 31, 2015USD ($)
Company Affiliated with Investors [Member] | Related Party Transaction, Contract Manufacturing Agreement [Member]
Related Party Transaction [Line Items]
Expense for services rendered	$ 0	$ 200,000
Accounts payable to related party	0				$ 0
Chief Executive Officer (CEO) [Member] | Related Party Transaction, Chartered Aircraft Expenses [Member]
Related Party Transaction [Line Items]
Expense for services rendered	600,000	$ 700,000
Accounts payable to related party	0				$ 100,000
Immediate Family Member of Member of the Board [Member]
Related Party Transaction [Line Items]
Naming rights agreement, period				3 years
Payments to be made to related party for naming rights			$ 500,000
Aggregate payments to related party for naming rights	$ 500,000
Number of devices provided to related party at no cost | Device	100

Commitments, contingencies an48

Commitments, contingencies and guarantees - Schedule of Product Warranty Liability Activity (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Movement in Standard Product Warranty Accrual [Roll Forward]
Beginning balances	$ 8,011	$ 8,969	$ 10,855	$ 6,405
Settlements of warranty claims	(4,943)	(5,559)	(10,457)	(9,039)
Charged to cost of revenue	5,871	5,309	8,541	11,353
Ending balances	$ 8,939	$ 8,719	$ 8,939	$ 8,719

Commitments, contingencies an49

Commitments, contingencies and guarantees - Narrative (Details) - USD ($)	1 Months Ended	3 Months Ended	6 Months Ended
	May 31, 2016	Jun. 30, 2016	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
Long-term Purchase Commitment [Line Items]
Product warranty accrual, current		$ 8,594,000	$ 8,594,000		$ 10,400,000
Product warranty accrual, noncurrent		300,000	300,000
Other commitment		67,000,000	67,000,000		28,800,000
Red Bull [Member]
Long-term Purchase Commitment [Line Items]
Agreement term	3 years 6 months
Facilities Lease [Member]
Long-term Purchase Commitment [Line Items]
Future minimum payments due					$ 152,200,000
Future minimum sublease rentals		5,000,000	5,000,000
Rent expense			$ 9,800,000	$ 4,900,000
Restricted Stock [Member] | Common Class A [Member] | Red Bull [Member]
Long-term Purchase Commitment [Line Items]
Restricted stock issued during period (shares)		$ 7,300,000

Concentrations of risk and ge50

Concentrations of risk and geographic information - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
Revenue, Major Customer [Line Items]
Revenue	$ 220,755	$ 419,919	$ 404,291	$ 783,028
United States [Member]
Revenue, Major Customer [Line Items]
Revenue			188,200	$ 344,400
Outside the United States [Member]
Revenue, Major Customer [Line Items]
Long-lived assets	$ 54,100		$ 54,100		$ 47,600

Concentrations of risk and ge51

Concentrations of risk and geographic information - Schedule of Customer Concentration by Risk Factor (Details) - USD ($) $ in Thousands	3 Months Ended			6 Months Ended
	Jun. 30, 2016	Dec. 31, 2015	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Concentration Risk [Line Items]
Accounts receivable sold	$ 43,794		$ 50,416	$ 64,304	$ 85,716
Factoring fees	$ 317		$ 446	$ 459	$ 736
Customer Concentration Risk [Member] | Accounts Receivable [Member] | Customer A (Retailer) [Member]
Concentration Risk [Line Items]
Concentration risk		40.00%		30.00%
Customer Concentration Risk [Member] | Accounts Receivable [Member] | Customer B (Retailer) [Member]
Concentration Risk [Line Items]
Concentration risk				13.00%
Customer Concentration Risk [Member] | Accounts Receivable [Member] | Customer C [Member]
Concentration Risk [Line Items]
Concentration risk		18.00%		16.00%
Customer Concentration Risk [Member] | Sales Revenue [Member] | Customer A (Retailer) [Member]
Concentration Risk [Line Items]
Concentration risk	14.00%			14.00%
Customer Concentration Risk [Member] | Sales Revenue [Member] | Customer B (Retailer) [Member]
Concentration Risk [Line Items]
Concentration risk	21.00%		16.00%	18.00%	14.00%

Concentrations of risk and ge52

Concentrations of risk and geographic information - Schedule of Revenue by Geographic Segment (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Segment Reporting Information [Line Items]
Revenue	$ 220,755	$ 419,919	$ 404,291	$ 783,028
United States [Member]
Segment Reporting Information [Line Items]
Revenue			188,200	344,400
Americas [Member]
Segment Reporting Information [Line Items]
Revenue	124,570	212,350	209,875	392,443
Europe, Middle East and Africa [Member]
Segment Reporting Information [Line Items]
Revenue	60,714	137,186	120,992	276,265
Asia and Pacific Area Countries [Member]
Segment Reporting Information [Line Items]
Revenue	$ 35,471	$ 70,383	$ 73,424	$ 114,320

Restructuring charges (Details)

Restructuring charges (Details) $ in Millions	6 Months Ended
	Jun. 30, 2016USD ($)
Restructuring and Related Activities [Abstract]
Expected percent of positions eliminated	7.00%
Restructuring charges	$ 6.5