Document, Entity and Informatio
Document, Entity and Information - USD ($) | 12 Months Ended | |
Dec. 31, 2019 | Jan. 31, 2020 | |
Class of Stock [Line Items] | ||
Entity Incorporation, State or Country Code | DE | |
Entity Tax Identification Number | 77-0629474 | |
Entity Address, Address Line One | 3000 Clearview Way | |
Entity Address, City or Town | San Mateo, | |
Entity Address, State or Province | CA | |
Entity Address, Postal Zip Code | 94402 | |
Title of 12(b) Security | Class A Common Stock | |
Trading Symbol | GPRO | |
Entity Registrant Name | GOPRO, INC. | |
Entity Well-known Seasoned Issuer | Yes | |
Entity Voluntary Filers | No | |
City Area Code | (650) | |
Local Phone Number | 332-7600 | |
Entity Central Index Key | 0001500435 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Large Accelerated Filer | |
Document Type | 10-K | |
Document Quarterly Report | true | |
Document Period End Date | Dec. 31, 2019 | |
Document Transition Report | false | |
Entity File Number | 001-36514 | |
Document Fiscal Year Focus | 2019 | |
Document Fiscal Period Focus | FY | |
Amendment Flag | false | |
Entity Emerging Growth Company | false | |
Entity Small Business | false | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Shell Company | false | |
Entity Public Float | $ 677,709,000 | |
Security Exchange Name | NASDAQ | |
Common Class A [Member] | ||
Class of Stock [Line Items] | ||
Entity Common Stock, Shares Outstanding | 127,099,096 | |
Common Class B [Member] | ||
Class of Stock [Line Items] | ||
Entity Common Stock, Shares Outstanding | 28,896,866 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets - USD ($) | Dec. 31, 2019 | Dec. 31, 2018 |
Current assets: | ||
Cash and cash equivalents | $ 150,301,000 | $ 152,095,000 |
Marketable securities | 14,847,000 | 45,417,000 |
Accounts receivable, net | 200,634,000 | 129,216,000 |
Inventory | 144,236,000 | 116,458,000 |
Prepaid expenses and other current assets | 25,958,000 | 30,887,000 |
Total current assets | 535,976,000 | 474,073,000 |
Property and equipment, net | 36,539,000 | 46,567,000 |
Operating Lease, Right-of-Use Asset | 53,121,000 | 0 |
Intangible assets, net | 5,247,000 | 13,065,000 |
Goodwill | 146,459,000 | 146,459,000 |
Other long-term assets | 15,461,000 | 18,195,000 |
Total assets | 792,803,000 | 698,359,000 |
Current liabilities: | ||
Accounts payable | 160,695,000 | 148,478,000 |
Accrued expenses and other current liabilities | 141,790,000 | 135,892,000 |
Short-term operating lease liabilities | 9,099,000 | 0 |
Deferred revenue | 15,467,000 | 15,129,000 |
Total current liabilities | 327,051,000 | 299,499,000 |
Long-term taxes payable | 13,726,000 | 19,553,000 |
Long-term debt | 148,810,000 | 138,992,000 |
Long-term operating lease liabilities | 62,961,000 | 0 |
Other long-term liabilities | 6,726,000 | 28,203,000 |
Total liabilities | 559,274,000 | 486,247,000 |
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, 117,922 and 105,170 shares issued and outstanding, respectively; 150,000 Class B shares authorized, 28,897 and 35,897 shares issued and outstanding, respectively | 930,875,000 | 894,755,000 |
Treasury stock, at cost, 10,710 and 10,710 shares, respectively | (113,613,000) | (113,613,000) |
Accumulated deficit | (583,733,000) | (569,030,000) |
Total stockholders’ equity | 233,529,000 | 212,112,000 |
Total liabilities and stockholders’ equity | $ 792,803,000 | $ 698,359,000 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares | Dec. 31, 2019 | Dec. 31, 2018 |
Preferred Stock, par value (usd per share) | $ 0.0001 | $ 0.0001 |
Preferred Stock, Shares Authorized (shares) | 5,000,000 | 5,000,000 |
Preferred Stock, Shares Issued (shares) | 0 | 0 |
Common stock, par value (in dollars per share) | $ 0.0001 | $ 0.0001 |
Treasury Stock, Shares (shares) | 10,710,000 | 10,710,000 |
Common Class A [Member] | ||
Common Stock, Shares Authorized (shares) | 500,000,000 | 500,000,000 |
Common Stock, Shares, Issued | 117,922,000 | 105,170,000 |
Common stock outstanding (shares) | 117,922,000 | 105,170,000 |
Common Class B [Member] | ||
Common Stock, Shares Authorized (shares) | 150,000,000 | 150,000,000 |
Common Stock, Shares, Issued | 28,897,000 | 35,897,000 |
Common stock outstanding (shares) | 28,897,000 | 35,897,000 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Income Statement [Abstract] | |||
Revenue | $ 1,194,651 | $ 1,148,337 | $ 1,179,741 |
Cost of revenue | 781,862 | 786,903 | 795,211 |
Gross profit | 412,789 | 361,434 | 384,530 |
Operating expenses: | |||
Research and development | 142,894 | 167,296 | 229,265 |
Sales and marketing | 206,431 | 222,096 | 236,581 |
General and administrative | 65,797 | 66,004 | 82,144 |
Total operating expenses | 415,122 | 455,396 | 547,990 |
Operating loss | (2,333) | (93,962) | (163,460) |
Interest expense | (19,229) | (18,683) | (13,660) |
Other income, net | 2,492 | 4,970 | 733 |
Total other expense, net | (16,737) | (13,713) | (12,927) |
Loss before income taxes | (19,070) | (107,675) | (176,387) |
Income tax (benefit) expense | 4,428 | (1,359) | (6,486) |
Net loss | $ (14,642) | $ (109,034) | $ (182,873) |
Earnings Per Share, Basic and Diluted | $ (0.10) | $ (0.78) | $ (1.32) |
Weighted Average Number of Shares Outstanding, Basic and Diluted | 144,891 | 139,495 | 138,056 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Interest Paid, Including Capitalized Interest, Operating and Investing Activities | $ 6,179 | $ 6,125 | $ 3,114 |
Other Payments to Acquire Businesses | 0 | 0 | 75 |
Income Taxes Paid, Net | 176 | (32,090) | 8,370 |
Payments for Repurchase of Equity, Prepaid Forward | 0 | 0 | |
Payments for Repurchase of Common Stock | 78,000 | ||
Payments of Debt Issuance Costs | 0 | 0 | 5,964 |
Capital Expenditures Incurred but Not yet Paid | 316 | 223 | 5,785 |
Proceeds from Sale of Intangible Assets | 0 | 5,000 | 0 |
Repayments of Secured Debt | 20,000 | 0 | 0 |
Net loss | (14,642) | (109,034) | (182,873) |
Adjustments to reconcile net loss to net cash used in operating activities: | |||
Depreciation and amortization | 26,268 | 35,063 | 41,478 |
Amortization of Leased Asset | 6,990 | 0 | 0 |
Stock-based compensation | 37,188 | 40,887 | 51,255 |
Deferred income taxes | (32) | (389) | (2,527) |
Restructuring Reserve, Settled without Cash | 6,282 | ||
Non-cash restructuring charges | (199) | (7,315) | |
Amortization of Debt Discount (Premium) | 8,987 | 8,112 | 5,345 |
Gain (Loss) on Disposition of Intangible Assets | 0 | 5,000 | 0 |
Other | (1,182) | 1,696 | 4,094 |
Changes in operating assets and liabilities: | |||
Accounts receivable, net | (71,269) | (16,460) | 52,278 |
Inventory | (27,778) | 34,093 | 16,641 |
Prepaid expenses and other assets | 7,486 | 35,390 | 9,303 |
Accounts payable and other liabilities | 3,210 | (70,400) | (44,411) |
Deferred revenue | 529 | (2,674) | 5,249 |
Net Cash Provided by (Used in) Operating Activities | (24,444) | (42,434) | (36,853) |
Investing activities: | |||
Purchases of property and equipment, net | (8,348) | (11,004) | (24,061) |
Purchases of marketable securities | (43,636) | (57,731) | (52,318) |
Maturities of marketable securities | 56,888 | 57,500 | 21,659 |
Sale of marketable securities | 17,867 | 0 | 11,623 |
Net cash provided by (used in) investing activities | 22,771 | (6,235) | (43,097) |
Financing activities: | |||
Proceeds from issuance of common stock | 5,574 | 5,169 | 9,751 |
Payments Related to Tax Withholding for Share-based Compensation | (6,618) | (6,650) | (12,118) |
Net cash provided by (used in) financing activities | (1,044) | (1,481) | 88,594 |
Proceeds from Convertible Debt | 0 | 0 | 175,000 |
Proceeds from Bank Debt | 20,000 | 0 | 0 |
Effect of exchange rate changes on cash and cash equivalents | 923 | (259) | 1,746 |
Net change in cash and cash equivalents | (1,794) | (50,409) | 10,390 |
Cash and cash equivalents at beginning of period | 152,095 | 202,504 | 192,114 |
Cash and cash equivalents at end of period | $ 150,301 | $ 152,095 | $ 202,504 |
Consolidated Statements of Rede
Consolidated Statements of Redeemable Convertible Preferred Stock and Stockholders' Equity (Deficit) Statement - USD ($) shares in Thousands, $ in Thousands | Total | Common Stock Including Additional Paid in Capital [Member] | Treasury Stock [Member] | Retained Earnings [Member] |
Beginning Balance at Dec. 31, 2016 | $ 446,945 | $ 757,226 | $ (35,613) | $ (274,668) |
Beginning Balance (shares) at Dec. 31, 2016 | 141,359 | |||
Common stock issued under employee benefit plans, net of shares withheld for tax | 9,732 | $ 9,732 | ||
Adjustments Related to Tax Withholding for Share-based Compensation | (12,118) | $ 12,118 | ||
Common stock issued under employee benefit plans, net of shares withheld for tax (shares) | 4,807 | |||
Allocated share-based compensation expense | 54,037 | $ 54,037 | ||
Cumulative Effect Of New Accounting Principle On Retained Earnings | 15,772 | 365 | 15,407 | |
Net loss | (182,873) | (182,873) | ||
Ending Balance at Dec. 31, 2017 | 298,705 | $ 854,452 | (113,613) | (442,134) |
Ending Balance (shares) at Dec. 31, 2017 | 137,000 | |||
Treasury Shares Acquired, Estimated, Prepaid Forward, Shares | 9,166 | |||
Repurchase of Equity, Prepaid Forward | 78,001 | $ 1 | 78,000 | |
Stock Issued During Period, Value, Conversion of Convertible Securities | 45,211 | 45,211 | ||
Common stock issued under employee benefit plans, net of shares withheld for tax | 5,099 | 5,099 | ||
Adjustments Related to Tax Withholding for Share-based Compensation | (6,650) | $ 6,650 | ||
Common stock issued under employee benefit plans, net of shares withheld for tax (shares) | 4,067 | |||
Allocated share-based compensation expense | 41,854 | $ 41,854 | ||
New Accounting Pronouncement or Change in Accounting Principle, Effect of Change on Net Income | (17,862) | 0 | (17,862) | |
Net loss | (109,034) | (109,034) | ||
Ending Balance at Dec. 31, 2018 | 212,112 | $ 894,755 | (113,613) | (569,030) |
Ending Balance (shares) at Dec. 31, 2018 | 141,067 | |||
Common stock issued under employee benefit plans, net of shares withheld for tax | 5,553 | $ 5,553 | ||
Adjustments Related to Tax Withholding for Share-based Compensation | (6,618) | $ 6,618 | ||
Common stock issued under employee benefit plans, net of shares withheld for tax (shares) | 5,751 | |||
Allocated share-based compensation expense | 37,185 | $ 37,185 | ||
New Accounting Pronouncement or Change in Accounting Principle, Effect of Change on Net Income | (61) | (61) | ||
Net loss | (14,642) | (14,642) | ||
Ending Balance at Dec. 31, 2019 | $ 233,529 | $ 930,875 | $ (113,613) | $ (583,733) |
Ending Balance (shares) at Dec. 31, 2019 | 146,818 |
Summary of business and signifi
Summary of business and significant accounting policies | 12 Months Ended |
Dec. 31, 2019 | |
Accounting Policies [Abstract] | |
Summary of significant accounting policies | Summary of business and significant accounting policies GoPro, Inc. and its subsidiaries (GoPro or the Company) helps its consumers capture and share their experiences in immersive and exciting ways. The Company is committed to developing solutions that create an easy, seamless experience for consumers to capture, create and share engaging personal content. To date, the Company’s cameras, mountable and wearable accessories, and subscription services have generated substantially all of its revenue. The Company sells its products globally through retailers, distributors and on gopro.com. The Company’s global corporate headquarters are located in San Mateo, California. Basis of presentation. The accompanying consolidated financial statements have been prepared in accordance with United States generally accepted accounting principles (GAAP). The Company’s fiscal year ends on December 31, and its fiscal quarters end on March 31, June 30 and September 30. Principles of consolidation. These consolidated financial statements include all the accounts of the Company and its wholly owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. Use of estimates. The preparation of consolidated financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the amounts reported and disclosed in the Company’s consolidated financial statements and accompanying notes. Significant estimates and assumptions made by management include those related to revenue recognition (including sales incentives, sales returns and implied post contract support), stock-based compensation, inventory valuation, product warranty liabilities, the valuation and useful lives of long-lived assets (property and equipment, operating leases, 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 consolidated statements of comprehensive income (loss) have been omitted. Prior period reclassifications. Reclassifications of certain prior period amounts in the consolidated financial statements, including a refinement in methodology for revenue by geography, have been made to conform to the current period presentation. Cash equivalents and marketable securities. Cash equivalents primarily consist of investments in money market funds with maturities of three months or less from the date of purchase. Marketable securities consist of commercial paper, U.S. treasury securities and corporate debt securities, and are classified as available-for-sale securities. The Company views these securities as available to support current operations and has classified all available-for-sale securities as current assets. Available-for-sale securities are carried at fair value with unrealized gains and losses, if any, included in stockholders’ equity. Unrealized losses are charged against other income, net, for declines in fair value below the cost of an individual investment that is deemed to be other than temporary. The Company has not identified any marketable securities as other-than-temporarily impaired for the periods presented. The cost of securities sold is based upon a specific identification method. Accounts receivable and allowance for doubtful accounts. Accounts receivable are stated at invoice value less estimated allowances for doubtful accounts. Allowances are recorded based on the Company’s assessment of various factors, such as: historical experience, credit quality of its customers, age of the accounts receivable balances, geographic related risks, economic conditions and other factors that may affect a customer’s ability to pay. The allowance for doubtful accounts as of December 31, 2019 and 2018 was $0.8 million and $0.5 million , respectively. Inventory. Inventory consists of finished goods and component parts, which are purchased directly from contract manufacturers or from suppliers. Inventory is stated at the lower of cost or net realizable value on a first-in, first-out basis. The Company writes down its inventory for estimated obsolescence or excess inventory equal to the difference between the cost of inventory and estimated market value plus the estimated cost to sell. The Company’s assessment of market value is based upon assumptions around market conditions and estimated future demand for its products within a specified time horizon, generally 12 months. Adjustments to reduce inventory to net realizable value are recognized in cost of revenue. Point of purchase (POP) displays. The Company provides retailers with POP displays, generally free of charge, in order to facilitate the marketing of the Company’s products within retail stores. The POP displays contain a display that broadcasts video images taken by GoPro cameras along with product placement available for cameras and accessories. POP display costs are capitalized as long-term assets and charged to sales and marketing expense over the expected period of benefit, which generally ranges from 24 to 36 months . Cash outflows and amortization related to POP displays are classified as operating activities in the consolidated statement of cash flows. Amortization was $7.5 million , $13.5 million and $19.2 million in 2019 , 2018 and 2017 , respectively. Property and equipment, net. Property and equipment are stated at cost and are depreciated using the straight-line method over the estimated useful life of the assets, ranging from one to nine years . Leasehold improvements are amortized over the shorter of the lease term or their expected useful life. Property and equipment pending installation, configuration or qualification are classified as construction in progress. Costs of maintenance and repairs that do not improve or extend the lives of the respective assets are expensed as incurred. Fair value measurements. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the reporting date. The Company estimates and categorizes the fair value of its financial assets by applying the following hierarchy: Level 1 Valuations based on quoted prices in active markets for identical assets or liabilities that the Company has the ability to directly access. Level 2 Valuations based on quoted prices for similar assets or liabilities; valuations for interest-bearing securities based on non-daily quoted prices in active markets; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable data for substantially the full term of the assets or liabilities. Level 3 Valuations based on inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. A financial instrument’s level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. The fair value of Level 2 financial instruments is obtained from an independent pricing service, which may use quoted market prices for identical or comparable instruments or model driven valuations using observable market data or inputs corroborated by observable market data. Leases. The Company leases its office space and facilities under cancelable and non-cancelable operating leases. Beginning January 1, 2019, operating leases are presented as operating lease right-of-use (ROU) assets, short-term operating lease liabilities and long-term operating lease liabilities on the Company’s consolidated balance sheets. ROU assets represent the Company’s right to control the use of an underlying asset for the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at the lease commencement date based on the present value of future lease payments. The Company determines its incremental borrowing rate based on the approximate rate at which the Company would borrow, on a secured basis, to calculate the present value of future lease payments. Lease expenses are recognized on a straight-line basis over the lease term. Certain leases include an option to renew with terms that can extend the lease term from one to five years. The exercise of a lease renewal option is at the Company’s sole discretion and is included in the lease term when the Company is reasonably certain it will exercise the option. Prior to January 1, 2019, the Company recognized leases under ASC 840, Leases , which had the following differences from the current lease standard, ASC 842, Leases: • Operating leases were previously not recorded on the Company’s consolidated balance sheets. • The Company calculated a liability for future costs to be incurred under a lease for its remaining term without economic benefit to the Company upon determination of a cease-use date. The fair value of the liability was determined based on remaining lease payments, estimated sublease income and the effects of any prepaid or deferred items recognized under the lease. Goodwill and other intangible assets. Goodwill represents the excess of the purchase price over the fair value of the net assets acquired in a business combination. Acquired intangible assets other than goodwill are amortized over their useful lives unless the lives are determined to be indefinite. For intangible assets acquired in a business combination, the estimated fair values of the assets received are used to establish their recorded values. Valuation approaches consistent with the market approach, income approach and/or cost approach are used to measure fair value. Impairment of goodwill and long-lived assets. The Company performs an annual assessment of its goodwill during the fourth quarter of each calendar year or more frequently if indicators of potential impairment exist, such as an adverse change in business climate or a decline in the overall industry demand, that would indicate it is more likely than not that the fair value of its single reporting unit is less than its carrying value. There was no impairment of goodwill recorded for any periods presented. For the Company’s annual impairment testing in 2019 , the Company did not identify any indicators of potential impairment of its single reporting unit. Other indefinite-lived intangible assets are assessed for impairment at least annually. If their carrying value exceeds the estimated fair value, the difference is recorded as an impairment. Long-lived assets, such as property and equipment and intangible assets subject to amortization, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset group may not be recoverable. Recoverability of assets to be held and used is measured by comparing the carrying amount to the estimated future undiscounted cash flows expected to be generated by the asset group. If it is determined that an asset group is not recoverable, an impairment charge is recognized for the amount by which the carrying amount of the asset group exceeds its fair value. There were no material impairments of long-lived assets for any period presented. Warranty. The Company records a liability for estimated product warranty costs at the time product revenue is recognized. The Company’s standard warranty obligation to its end-users generally provides a 12 -month warranty coverage on all of its products except in the European Union where the Company provides a 2 -year warranty. The Company also offers extended warranty programs for a fee. The Company’s estimate of costs to service its warranty obligations is based on its historical experience of repair and replacement of the associated products and expectations of future conditions. The warranty obligation is affected by product failure rates and the related use of materials, labor costs and freight incurred in correcting any product failure. Revenue recognition. The Company derives substantially all of its revenue from the sale of cameras, mounts and accessories, the related implied post contract support to customers, and subscription services. The Company recognizes revenue when control of the promised goods or services is transferred to customers, in an amount that reflects the consideration the Company expects to be entitled to in exchange for those goods or services. The transaction price the Company expects to be entitled to is primarily comprised of product revenue, net of returns and variable consideration, including sales incentives provided to customers. For most of the Company’s revenue, revenue is recognized at the time products are delivered and when collection is considered probable. For the Company’s subscription services, revenue is recognized on a ratable basis over the subscription term, with payments received in advance of services being rendered recorded in deferred revenue. For customers who purchase products directly from gopro.com, the Company retains a portion of the risk of loss on these sales during transit, which are accounted for as fulfillment costs. The Company provides sales commissions to internal and external sales representatives which are earned in the period in which revenue is recognized. As a result, the Company expenses such costs as incurred under Accounting Standards Update (ASU) 2014-19 Revenue from Contracts with Customers , which was adopted on January 1, 2018. Upon adoption, the Company’s accumulated deficit increased by $2.9 million , of which, $4.9 million related to certain estimated sales incentives which would have been recognized at the time product was shipped in the prior period, partially offset by $2.0 million related to sales from gopro.com that had been shipped but not delivered as of December 31, 2017. The Company's standard terms and conditions of sale for non-web based sales do not allow for product returns other than under warranty. However, the Company grants limited rights of return, primarily to certain large retailers. The Company reduces revenue and cost of sales for the estimated returns based on analyses of historical return trends by customer class and other factors. An estimated return liability along with a right to recover assets are recorded for future product returns. Return trends are influenced by product life cycles, new product introductions, market acceptance of products, product sell-through, the type of customer, seasonality and other factors. Return rates may fluctuate over time but are sufficiently predictable to allow the Company to estimate expected future product returns. The Company’s camera sales contain multiple performance obligations that generally include the following three separate obligations: a) a hardware component (camera) and the embedded firmware essential to the functionality of the hardware component delivered at the time of sale, b) the implicit right to the Company's downloadable free apps and software solutions, and c) the implied right for the customer to receive support after the initial sale (post contract support or PCS). The Company’s PCS includes the right to receive on a when and if available basis, future unspecified firmware upgrades and features as well as bug fixes, and email and telephone support. The Company allocates a portion of the transaction price to the PCS performance obligation based on a cost-plus methodology. The transaction price is allocated to the remaining performance obligations on a residual value methodology. The Company’s process to allocate the transaction price considers multiple factors that may vary over time depending upon the unique facts and circumstances related to each deliverable, including: the level of support provided to customers, estimated costs to provide the Company’s support, the amount of time and cost that is allocated to the Company’s efforts to develop the undelivered elements and market trends in the pricing for similar offerings. The transaction prices allocated to the delivered hardware, related embedded firmware and free software solutions are recognized as revenue at the time of sale, provided the conditions for recognition of revenue have been met. The transaction price allocated to PCS is deferred and recognized as revenue on a straight-line basis over the estimated term of the support period, which is estimated to be 15 months based on historical experience. Deferred revenue as of December 31, 2019 and 2018 also included immaterial amounts related to the Company’s GoPro Care and GoPro Plus fee-based service offerings. The Company’s short-term and long-term deferred revenue balances totaled $16.6 million and $16.1 million as of December 31, 2019 and 2018 , respectively, and the Company recognized $15.0 million and $17.3 million of related revenue during the year ended December 31, 2019 and 2018 , respectively. Prior to January 1, 2018, the Company recognized revenue under Accounting Standards Codification (ASC) 605, Revenue Recognition . ASC 605 is materially similar to ASC 606, Revenue from Contracts with Customers , with the following differences: • The Company recognized revenue when persuasive evidence of an arrangement existed, delivery had occurred, the sales price was fixed and determinable and collectability was reasonably assured. • The Company allocated the transaction price based on its best estimate of the selling price (BESP). The Company’s process for determining BESP was materially the same as its’ current allocation of the transaction price to each performance obligations. • Sales incentives were recorded as a reduction to revenue in the period the incentives were offered to customers ore the related revenue was recognized, whichever was later. Additionally, the Company allocated the transaction price based on its best estimate of the selling price (BESP). The Company’s process for determining BESP was materially the same as its’ current allocation of the transaction price to each performance obligation. Lastly, sales incentives were recorded as a reduction to revenue in the period the incentives were offered to customers or the related revenue was recognized, whichever was later. Sales incentives. The Company offers sales incentives through various programs, including cooperative advertising, price protection, marketing development funds and other incentives. Sales incentives are considered to be variable consideration, which the Company estimates and records as a reduction to revenue at the date of sale. The Company estimates sales incentives based on historical experience, product sell-through and other factors. Shipping costs. Amounts billed to customers for shipping and handling are classified as revenue, and the Company’s related shipping and handling costs incurred are classified as cost of revenue. Sales taxes. Sales taxes collected from customers and remitted to respective governmental authorities are recorded as liabilities and are not included in revenue. Advertising costs. Advertising costs consist of costs associated with print, television and e-commerce media advertisements and are expensed as incurred. The Company incurs promotional expenses resulting from payments under event, resort and athlete sponsorship contracts. These sponsorship arrangements are considered to be executory contracts and, as such, the costs are expensed as performance under the contract is received. The costs associated with the preparation of sponsorship activities, including the supply of GoPro products, media team support, and activation fees are expensed as incurred. Prepayments made under sponsorship agreements are included in prepaid expenses or other long-term assets depending on the period to which the prepayment applies. Advertising costs were $67.3 million , $73.0 million and $61.3 million in 2019 , 2018 and 2017 , respectively. Stock-based compensation. Stock-based awards granted to qualified employees, non-employee directors and consultants are measured at fair value and recognized as an expense. The Company primarily issues restricted stock units and accounts for forfeitures as they occur. For service-based awards, stock-based compensation is recognized on a straight-line basis over the requisite service period. For performance and market-based awards which also require a service period, the Company uses graded vesting over the longer of the derived service period or when the performance or market condition is satisfied. Foreign currency. The U.S. dollar is the functional currency of the Company’s foreign subsidiaries. The Company remeasures monetary assets or liabilities denominated in currencies other than the U.S. dollar using exchange rates prevailing on the balance sheet date, and non-monetary assets and liabilities at historical rates. Foreign currency remeasurement and transaction gains and losses are included in other income, net and have not been material for any periods presented. Income taxes. The Company utilizes the asset and liability method for computing its income tax provision, under which deferred tax assets and liabilities are recognized for the expected future consequences of temporary differences between the financial reporting and tax bases of assets and liabilities using enacted tax rates. Management makes estimates, assumptions and judgments to determine the Company’s provision for income taxes, deferred tax assets and liabilities, and any valuation allowance recorded against deferred tax assets. The Company assesses the likelihood that its deferred tax assets will be recovered from future taxable income and, to the extent the Company believes recovery is not likely, establishes a valuation allowance. On January 1, 2018, the Company adopted ASU 2016-16 Income Taxes - Intra-Entity Transfers of Assets Other Than Inventory which required the Company to recognize the income tax consequence of intra-entity asset transfers when transfers occur. Upon adoption, the net impact to equity was an increase in the accumulated deficit of $15.0 million . Prior to January 1, 2018, the Company recognized the income tax consequence of intra-entity asset transfers when the asset was sold to an outside party or otherwise recovered through use. The Company recognizes the tax benefit from an uncertain tax position only if it is more likely than not the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The tax benefits recognized from such positions are then measured based on the largest benefit that has a greater than 50% likelihood of being realized upon settlement. Interest and penalties related to unrecognized tax benefits are recognized within income tax expense. Segment information. The Company operates as one operating segment as it only reports financial information on an aggregate and consolidated basis to its Chief Executive Officer, who is the Company’s chief operating decision maker. Recent accounting standards Standard Description Company’s date of adoption Effect on the consolidated financial statements or other significant matters Standards that were adopted Leases ASU No. 2016-02, 2018-10, 2018-11, 2019-01, (ASC 842) This standard replaces existing lease guidance for lessees and requires operating leases to be recognized on the balance sheet. Under the new standard, lessees recognize a lease liability for the present value of future lease payments and a corresponding right-to-use asset. January 1, 2019 The new standard was applied using a modified retrospective approach. Prior periods were not retrospectively adjusted. The Company completed its analysis of the impact of the standard by reviewing its lease agreements to identify changes resulting from applying the requirements of the new standard. The Company elected to utilize a package of practical expedients, which among other things, allowed the Company to maintain its existing classification of its current leases. The Company also elected the hindsight practical expedient to determine a reasonably certain lease term for existing leases. Additionally, the Company made a policy election to maintain its previous lease accounting for leases with an initial term of 12 months or less. Furthermore, the Company made the policy election to not separate non-lease components from lease components. The Company’s analysis of its lease agreements under the new standard resulted in the recognition of lease liabilities of $88.4 million and lease assets of $60.1 million on its consolidated balance sheet as of January 1, 2019. The new standard did not have a material impact on the Company’s consolidated income statement and consolidated statement of cash flows. The cumulative effect of the changes made to the Company’s consolidated January 1, 2019 balance sheet for the adoption of ASC 842, Leases were as follows: (in thousands) Balance at December 31, 2018 Adjustment due to ASC 842 Balance at January 1, 2019 Operating lease right-of-use assets $ — $ 60,111 $ 60,111 Property and equipment, net (1) 46,567 (57 ) 46,510 Accrued expenses and other current liabilities (2) 135,892 (4,332 ) 131,560 Short-term operating lease liabilities — 10,812 10,812 Long-term operating lease liabilities — 77,545 77,545 Other long-term liabilities (2) 28,203 (23,900 ) 4,303 Accumulated deficit (569,030 ) (61 ) (569,091 ) (1) Represents the reclassification of leasehold acquisition costs to operating lease right-of-use assets. (2) Represents the reclassification of deferred rent, tenant incentives and accrued cease-use charges to operating lease right-of-use assets. Standard Description Expected date of adoption Effect on the consolidated financial statements or other significant matters Standards not yet adopted Intangible - Goodwill and Other ASU No. 2017-04 (Topic 350) This standard simplifies the accounting for goodwill and removes Step 2 of the annual goodwill impairment test. Upon adoption, goodwill impairment will be determined based on the amount by which a reporting unit’s carrying value exceeds its fair value, not to exceed the carrying amount of goodwill. Early adoption is permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017, and requires use of a prospective transition method. January 1, 2020 The Company does not expect that the adoption of this standard will have a material impact on its consolidated financial statements and related disclosures. Financial Instruments - Credit Losses: Measurement of Credit Losses on Financial Instruments ASU No. 2016-13 (Topic 326) The standard changes the impairment model for most financial assets and replaces the existing incurred loss model with a current expected credit loss (CECL) model. The standard should be applied on a modified retrospective approach. January 1, 2020 The Company’s allowance for doubtful accounts and valuation of available-for-sale securities are subject to this standard. The Company has finalized its analysis of adopting this standard and concluded the standard will not have a material impact on its consolidated financial statements and related disclosures. Although there are several other new accounting standards issued or proposed by the FASB, which the Company has adopted or will adopt, as applicable, the Company does not believe any of these accounting pronouncements has had or will have a material impact on its consolidated financial statements. |
Fair value measurements
Fair value measurements | 12 Months Ended |
Dec. 31, 2019 | |
Fair Value Disclosures [Abstract] | |
Fair Value measurements | Fair value measurements The Company’s assets that are measured at fair value on a recurring basis within the fair value hierarchy are summarized as follows: December 31, 2019 December 31, 2018 (in thousands) Level 1 Level 2 Total Level 1 Level 2 Total Cash equivalents (1) : Money market funds $ 4,413 $ — $ 4,413 $ 10,901 $ — $ 10,901 Commercial paper — — — 7,577 — 7,577 Total cash equivalents $ 4,413 $ — $ 4,413 $ 18,478 $ — $ 18,478 Marketable securities: U.S. treasury securities $ — $ — $ — $ — $ 6,336 $ 6,336 Commercial paper — — — 20,657 — 20,657 Corporate debt securities — 14,847 14,847 — 18,424 18,424 Total marketable securities $ — $ 14,847 $ 14,847 $ 20,657 $ 24,760 $ 45,417 (1) Included in cash and cash equivalents in the accompanying consolidated balance sheets. Cash balances were $145.9 million and $133.6 million as of December 31, 2019 and 2018, 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. The contractual maturities of available-for-sale marketable securities as of December 31, 2019 and 2018 were all less than one year in duration. At December 31, 2019 and 2018 , 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. At December 31, 2019 and December 31, 2018 , the amortized cost of the Company’s cash equivalents and marketable securities approximated their fair value and there were no material realized or unrealized gains or losses, either individually or in the aggregate. In April 2017, the Company issued $175.0 million principal amount of Convertible Senior Notes due 2022 (Notes) (see Note 4 Financing Arrangements ). The estimated fair value of the Notes is based on quoted market prices of the Company’s instruments in markets that are not active and are classified as Level 2 within the fair value hierarchy. The Company estimated the fair value of the Notes by evaluating quoted market prices and calculating the upfront cash payment a market participant would require to assume these obligations. The calculated fair value of the Notes of $170.0 million , is highly correlated to the Company’s stock price and as a result, significant changes to the Company’s stock price will have a significant impact on the calculated fair value of the Notes. For certain other financial assets and liabilities, including accounts receivable, accounts payable and other current assets and liabilities, the carrying amounts approximate their fair value primarily due to the relatively short maturity of these balances. |
Condensed consolidated financia
Condensed consolidated financial statement details Condensed consolidated financial statement details | 12 Months Ended |
Dec. 31, 2019 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Consolidated financial statement details | Consolidated financial statement details The following sections and tables provide details of selected balance sheet items. Inventory (in thousands) December 31, 2019 December 31, 2018 Components $ 20,370 $ 19,205 Finished goods 123,866 97,253 Total inventory $ 144,236 $ 116,458 Property and equipment, net (in thousands) Useful life (in years) December 31, 2019 December 31, 2018 Leasehold improvements 1–9 $ 50,736 $ 66,198 Production, engineering and other equipment 1-4 45,649 43,019 Tooling 1–2 19,216 17,808 Computers and software 2 21,719 20,865 Furniture and office equipment 3 10,846 14,969 Tradeshow equipment and other 2–5 7,009 7,009 Construction in progress 45 80 Gross property and equipment 155,220 169,948 Less: Accumulated depreciation and amortization (118,681 ) (123,381 ) Property and equipment, net $ 36,539 $ 46,567 Depreciation expense was $18.5 million , $23.6 million and $32.4 million in 2019 , 2018 and 2017 , respectively. In 2017, the Company recorded accelerated depreciation charges in connection with its plans to vacate certain leased office facilities as disclosed in Note 11 Restructuring charges . Intangible assets Useful life (in months) December 31, 2019 (in thousands) Gross carrying value Accumulated amortization Net carrying value Purchased technology 20-72 $ 50,501 $ (45,269 ) $ 5,232 Domain name 15 — 15 Total intangible assets $ 50,516 $ (45,269 ) $ 5,247 Useful life (in months) December 31, 2018 (in thousands) Gross carrying value Accumulated amortization Net carrying value Purchased technology 20-72 $ 50,501 $ (37,451 ) $ 13,050 Domain name 15 — 15 Total intangible assets $ 50,516 $ (37,451 ) $ 13,065 Amortization expense was $7.8 million , $11.4 million and $9.0 million in 2019 , 2018 and 2017 , respectively. At December 31, 2019 , expected amortization expense of intangible assets with definite lives for future periods was as follows: (in thousands) Total Year ending December 31, 2020 $ 4,363 2021 869 $ 5,232 Other long-term assets (in thousands) December 31, 2019 December 31, 2018 Point of purchase (POP) displays $ 7,595 $ 9,130 Long-term deferred tax assets 864 945 Deposits and other 7,002 8,120 Other long-term assets $ 15,461 $ 18,195 Accrued expenses and other current liabilities (in thousands) December 31, 2019 December 31, 2018 Accrued payables (1) $ 42,153 $ 34,696 Accrued sales incentives 39,120 40,918 Employee related liabilities (1) 20,494 19,775 Return liability 14,854 13,100 Warranty liability 9,899 9,604 Inventory received 5,737 5,061 Customer deposits 2,063 3,105 Purchase order commitments 1,710 2,015 Income taxes payable 1,166 1,948 Other 4,594 5,670 Accrued expenses and other current liabilities $ 141,790 $ 135,892 (1) See Note 11 Restructuring charges for amounts associated with restructuring liabilities. Product warranty Year ended December 31, (in thousands) 2019 2018 2017 Beginning balance $ 10,971 $ 10,373 $ 11,945 Charged to cost of revenue 16,933 24,725 20,139 Settlement of warranty claims (16,506 ) (24,127 ) (21,711 ) Warranty liability $ 11,398 $ 10,971 $ 10,373 At December 31, 2019 and 2018 , $9.9 million and $9.6 million of the warranty liability was recorded as a component of accrued expenses and other current liabilities, respectively, and $1.5 million and $1.4 million |
Financing Arrangements
Financing Arrangements | 12 Months Ended |
Dec. 31, 2019 | |
Line of Credit Facility [Line Items] | |
Financing Arrangements | Financing Arrangements Credit Facility In March 2016, the Company entered into a Credit Agreement (Credit Agreement) with certain banks which provides for a secured revolving credit facility (Credit Facility) under which the Company may borrow up to an aggregate amount of $250.0 million . The Company and its lenders may increase the total commitments under the Credit Facility to up to an aggregate amount of $300.0 million , subject to certain conditions. The Credit Facility will terminate and any outstanding borrowings become due and payable in March 2021. The amount that may be borrowed under the Credit Facility is determined at periodic intervals and is based upon the Company’s inventory and accounts receivable balances. Borrowed funds accrue interest 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. 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 owed under the Credit Agreement and related credit documents are guaranteed by GoPro, Inc. and its material subsidiaries. GoPro, Inc. and its Netherlands subsidiary have also granted security interests in substantially all of their assets to collateralize this obligation. The Credit Agreement contains customary covenants, such as financial statement reporting requirements and limiting the ability of the Company and its subsidiaries to pay dividends or 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 also contains customary events of default, such as the failure to pay obligations when due, initiation of bankruptcy or insolvency proceedings, or defaults on certain other indebtedness. 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. At December 31, 2019 and 2018 , the Company was in compliance with all financial covenants contained in the Credit Agreement. As of December 31, 2019 and 2018 , the Company had zero outstanding borrowings under the Credit Agreement. Convertible Notes In April 2017, the Company issued $175.0 million aggregate principal amount of 3.50% Convertible Senior Notes due 2022 (Notes). The Notes are senior, unsecured obligations of GoPro and mature on April 15, 2022 (Maturity Date), unless earlier repurchased or converted into shares of Class A common stock under certain circumstances. The Notes are convertible into cash, shares of the Company’s Class A common stock, or a combination thereof, at the Company’s election, at an initial conversion rate of 94.0071 shares of Class A common stock per $1,000 principal amount of the Notes, which is equivalent to an initial conversion price of approximately $10.64 per share of common stock, subject to adjustment. Based on current and projected liquidity, the Company has the intent and ability to deliver cash up to the principal amount of the Notes then outstanding upon conversion. The Company pays interest on the Notes semi-annually in arrears on April 15 and October 15 of each year. The $175.0 million of proceeds received from the issuance of the Notes were allocated between long-term debt (liability component) of $128.3 million and additional paid-in-capital (equity component) of $46.7 million on the consolidated balance sheet. The fair value of the liability component was measured using rates determined for similar debt instruments without a conversion feature. The carrying amount of the equity component, representing the conversion option, was determined by deducting the fair value of the liability component from the aggregate face value of the Notes. The liability component will be accreted up to the face value of the Notes of $175.0 million , which will result in additional non-cash interest expense being recognized in the consolidated statements of operations through the Notes’ Maturity Date. The accretion of the Notes to par and debt issuance cost recorded to long-term debt is amortized into interest expense over the term of the Note using an effective interest rate of approximately 10.5% . The equity component will not be remeasured as long as it continues to meet the conditions for equity classification. The Company incurred approximately $5.7 million of issuance costs related to the issuance of the Notes, of which $4.2 million and $1.5 million were recorded to long-term debt and additional paid-in capital, respectively. The $4.2 million of issuance costs recorded as long-term debt on the consolidated balance sheet are being amortized over the five-year contractual term of the Notes using the effective interest method. The Company may not redeem the Notes prior to the Maturity Date and no sinking fund is provided for the Notes. The indenture includes customary terms and covenants, including certain events of default after which the Notes may be due and payable immediately. Holders have the option to convert the Notes in multiples of $1,000 principal amount at any time prior to January 15, 2022, but only in the following circumstances: • during any calendar quarter beginning after the calendar quarter ending on September 30, 2017, if the last reported sale price of Class A common stock for at least 20 trading days (whether or not consecutive) during the last 30 consecutive trading days of the immediately preceding fiscal quarter is greater than or equal to 130% of the conversion price of the Notes on each applicable trading day; • during the five-business day period following any five consecutive trading day period in which the trading price for the Notes is less than 98% of the product of the last reported sale price of Class A common stock and the conversion rate for the Notes on each such trading day; or • upon the occurrence of specified corporate events. At any time on or after January 15, 2022 until the second scheduled trading day immediately preceding the Maturity Date of the Notes on April 15, 2022 , a holder may convert its Notes, in multiples of $1,000 principal amount. Holders of the Notes who convert their Notes in connection with a make-whole fundamental change (as defined in the indenture) are, under certain circumstances, entitled to an increase in the conversion rate. In addition, in the event of a fundamental change prior to the Maturity Date, holders will, subject to certain conditions, have the right, at their option, to require the Company to repurchase for cash all or part of the Notes at a repurchase price equal to 100% of the principal amount of the Notes to be repurchased, plus accrued and unpaid interest up to, but excluding, the repurchase date. As of December 31, 2019 and 2018 , the outstanding principal on the Notes was $175.0 million , the unamortized debt discount was $24.3 million and $33.3 million , respectively, the unamortized debt issuance cost was $1.9 million and $2.7 million , respectively, and the net carrying amount of the liability component was $148.8 million and $139.0 million , respectively, which was recorded as long-term debt within the consolidated balance sheets. For the year ended December 31, 2019 and 2018 the Company recorded interest expense of $6.1 million for contractual coupon interest , and $0.8 million for amortization of debt issuance costs. For the year ended December 31, 2017 , the Company recorded interest expense of $4.4 million for contractual coupon interest, and $0.6 million for amortization of debt issuance costs. For the year ended December 31, 2019 , 2018 and 2017 , the Company recorded $9.0 million , $8.1 million and $5.3 million , respectively, for amortization of the debt discount. In connection with the offering, the Company entered into a prepaid forward stock repurchase transaction (Prepaid Forward) with a financial institution (Forward Counterparty). Pursuant to the Prepaid Forward, the Company used approximately $78.0 million of the net proceeds from the offering of the Notes to fund the Prepaid Forward. The aggregate number of shares of the Company’s Class A common stock underlying the Prepaid Forward was approximately 9.2 million . The expiration date for the Prepaid Forward is April 15, 2022, although it may be settled earlier in whole or in part. Upon settlement of the Prepaid Forward, at expiration or upon any early settlement, the Forward Counterparty will deliver to the Company the number of shares of Class A common stock underlying the Prepaid Forward or the portion thereof being settled early. The shares purchased under the Prepaid Forward are treated as treasury stock on the consolidated balance sheet (and not outstanding for purposes of the calculation of basic and diluted income (loss) per share), but will remain outstanding for corporate law purposes, including for purposes of any future stockholders’ votes, until the Forward Counterparty delivers the shares underlying the Prepaid Forward to the Company. The Company’s Prepaid Forward hedge transaction exposes the Company to credit risk to the extent that its counterparty may be unable to meet the terms of the transaction. The Company mitigates this risk by limiting its counterparty to a major financial institution. |
Stockholders' equity Stockholde
Stockholders' equity Stockholders' equity | 12 Months Ended |
Dec. 31, 2019 | |
Equity [Abstract] | |
Stockholders' Equity Note Disclosure [Text Block] | Stockholders’ equity Common stock. The Company has two classes of authorized common stock: Class A common stock with 500 million shares authorized and Class B common stock with 150 million shares authorized. As of December 31, 2019 , 117.9 million shares of Class A stock were issued and outstanding and 28.9 million shares of Class B stock were issued and outstanding. The rights of the holders of Class A and Class B common stock are identical, except with respect to voting power and conversion rights. Each share of Class A common stock is entitled to one vote per share and each share of Class B common stock is entitled to ten votes per share. Each share of Class B common stock is convertible at any time at the option of the stockholder into one share of Class A common stock and has no expiration date. The Class B common stock is also convertible into Class A common stock on the same basis upon any transfer, whether or not for value, except for “permitted transfers” as defined in the Company’s restated certificate of incorporation. Each share of Class B common stock will convert automatically into one share of Class A common stock upon the date when the outstanding shares of Class B common stock represent less than 10% of the aggregate number of shares of common stock then outstanding. As of December 31, 2019 , the Class B stock continued to represent greater than 10% of the overall outstanding shares. The Company had the following shares of common stock reserved for issuance upon the exercise of equity instruments as of December 31, 2019 : (in thousands) December 31, 2019 Stock options outstanding 3,963 Restricted stock units outstanding 8,225 Performance stock units outstanding 788 Common stock available for future grants 32,358 Total common stock shares reserved for issuance 45,334 |
Employee benefit plans
Employee benefit plans | 12 Months Ended |
Dec. 31, 2019 | |
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. The 2014 Plan serves as a successor to the 2010 Plan and provides for the granting of incentive and nonqualified stock options, restricted stock awards (RSAs), restricted stock units (RSUs), stock appreciation rights, stock bonus awards and performance awards to qualified employees, non-employee directors and consultants. Options granted under the 2014 Plan generally expire within ten years from the date of grant and generally vest over one to four years . RSUs granted under the 2014 Plan generally vest over two to four years based upon continued service and are settled at vesting in shares of the Company’s Class A common stock. Performance stock units (PSUs) granted under the 2014 Plan generally vest over three years based upon continued service and the Company achieving certain revenue targets, and are settled at vesting in shares of the Company’s Class A common stock. The Company accounts for forfeitures of stock-based payment awards in the period they occur. 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. The 2014 Plan and the ESPP also provide for automatic annual increases in the number of shares reserved for future issuance. Employee retirement plan. The Company has a defined contribution retirement plan covering the United States and other international full-time employees that provides for voluntary employee contributions from 1% to 100% of annual compensation, subject to a maximum limit allowed by Internal Revenue Service guidelines. The Company matches 100% of each employee’s contributions up to a maximum of 4% of the employee’s eligible compensation. The Company’s matching contributions to the plan were $4.0 million , $4.3 million and $5.5 million in 2019 , 2018 and 2017 , respectively. S tock options A summary of the Company’s stock option activity is as follows: Shares (in thousands) Weighted-average Weighted-average remaining contractual term (in years) Aggregate intrinsic value Outstanding at December 31, 2018 5,993 $ 7.28 5.44 $ 7,897 Granted 527 7.42 Exercised (2,158 ) 0.75 Forfeited/Cancelled (399 ) 14.29 Outstanding at December 31, 2019 3,963 $ 10.16 6.35 $ 374 Vested and expected to vest at December 31, 2019 3,963 $ 10.16 6.35 $ 374 Exercisable at December 31, 2019 2,987 $ 11.25 5.56 $ 370 The weighted-average grant date fair value of all options granted and assumed was $3.70 , $2.95 and $4.06 per share in 2019 , 2018 and 2017 , respectively. The total fair value of all options vested was $3.5 million , $6.1 million and $19.5 million in 2019 , 2018 and 2017 , respectively. The aggregate intrinsic value of the stock options outstanding as of December 31, 2019 represents the value of the Company’s closing stock price on the last trading day of the year in excess of the exercise price multiplied by the number of options outstanding. Restricted stock units A summary of the Company’s RSU activity is as follows: Shares (in thousands) Weighted-average grant date fair value Non-vested shares at December 31, 2018 7,217 $ 8.15 Granted 6,104 5.70 Vested (3,925 ) 8.90 Forfeited (1,171 ) 7.25 Non-vested shares at December 31, 2019 8,225 $ 6.11 The weighted-average grant date fair value of all RSUs granted was $5.70 , $5.83 and $9.40 per share in 2019 , 2018 and 2017 , respectively. The total fair value of all RSUs vested was $34.9 million , $41.6 million and $57.7 million in 2019 , 2018 and 2017 , respectively. Performance stock units A summary of the Company’s PSU activity is as follows: Shares (in thousands) Weighted-average grant date fair value Non-vested shares at December 31, 2018 300 $ 5.76 Granted 819 7.51 Forfeited (331 ) 5.93 Non-vested shares at December 31, 2019 788 $ 7.51 The weighted-average grant date fair value of all PSUs granted was $7.51 and $5.76 in 2019 and 2018, respectively. No PSUs vested in 2019 and 2018 . Employee stock purchase plan. In 2019 , 2018 and 2017 , the Company issued 958,000 , 981,000 and 934,000 shares under its ESPP, respectively, at weighted-average prices of $4.13 , $4.78 and $8.02 , respectively. Fair value disclosures. 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 RSUs and PSUs are determined using the Company’s closing stock price on the date of grant. The Company recognizes compensation expense for PSUs when it is probable that the vesting conditions will be met. The fair value of stock options granted and purchases under the Company’s ESPP is estimated using the Black-Scholes option pricing model. Expected term of stock options granted was estimated based on the simplified method. Expected stock price volatility was estimated by taking the Company’s average historic volatility and if applicable, the historical volatility for industry peers based on daily price observations over a period equivalent to the expected term. Risk-free interest rate was based on the yields of U.S. Treasury securities with maturities similar to the expected term. Dividend yield was zero as the Company does not have any history of, nor plans to make, dividend payments. The fair value of stock options granted was estimated as of the grant date using the following assumptions: Year ended December 31, 2019 2018 2017 Volatility 50%-52% 51% 44%-49% Expected term (years) 6.1 5.4-6.1 5.3-5.8 Risk-free interest rate 1.5%-2.2% 2.7%-3.0% 1.8%-2.1% Dividend yield —% —% —% The fair value of stock purchase rights granted under the ESPP was estimated using the following assumptions: Year ended December 31, 2019 2018 2017 Volatility 41%-54% 48%-53% 33%-36% Expected term (years) 0.5 0.5 0.5 Risk-free interest rate 1.9%-2.5% 1.8%-2.2% 0.7%-1.2% Dividend yield —% —% —% Stock-based compensation expense. The following table summarizes stock-based compensation expense included in the consolidated statements of operations: Year ended December 31, (in thousands) 2019 2018 2017 Cost of revenue $ 1,902 $ 1,954 $ 1,935 Research and development 17,167 19,636 24,963 Sales and marketing 8,043 9,459 10,498 General and administrative 10,076 9,838 13,859 Total stock-based compensation expense $ 37,188 $ 40,887 $ 51,255 The income tax benefit related to stock-based compensation expense was zero for 2019 , 2018 and 2017 due to a full valuation allowance on the Company’s United States net deferred tax assets (see Note 8 Income taxes ). At December 31, 2019 , total unearned stock-based compensation of $45.4 million related to stock options, RSUs, PSUs and ESPP shares is expected to be recognized over a weighted-average period of 2.1 years. |
Net loss per share
Net loss per share | 12 Months Ended |
Dec. 31, 2019 | |
Earnings Per Share [Abstract] | |
Net loss per share | Net loss per share The following table presents the calculations of basic and diluted net loss per share: Year ended December 31, (in thousands, except per share data) 2019 2018 2017 Numerator: Net loss $ (14,642 ) $ (109,034 ) $ (182,873 ) Denominator: Weighted-average common shares—basic and diluted for Class A and Class B common stock 144,891 139,495 138,056 Basic and diluted net loss per share $ (0.10 ) $ (0.78 ) $ (1.32 ) The following potentially dilutive shares were not included in the calculation of diluted shares outstanding as the effect would have been anti-dilutive: Year ended December 31, (in thousands) 2019 2018 2017 Anti-dilutive stock-based awards 13,039 15,356 19,022 The Company has the intent and ability to deliver cash up to the principal amount of the Notes subject to conversion, based on the Company’s current and projected liquidity. As such, no shares associated with the Note conversion were included in the Company’s weighted-average number of common shares outstanding for any periods presented. The Company’s Notes mature on April 15, 2022 , unless earlier repurchased or converted into shares of Class A common stock under certain circumstances as described further in Note 4 Financing Arrangements . The Notes are convertible into cash, shares of the Company’s Class A common stock, or a combination thereof, at the Company’s election. While the Company has the intent and ability to deliver cash up to the principal amount, the maximum number of shares issuable upon conversion of the Notes is 20.6 million shares of Class A common stock. Additionally, the calculation of weighted-average shares outstanding for the year ended December 31, 2019 and 2018 excludes approximately 9.2 million , and for the year ended December 31, 2017 , excludes approximately 6.6 million shares, effectively repurchased and held in treasury stock on the consolidated balance sheets as a result of the Prepaid Forward transaction entered into in connection with the Note offering. The rights of the holders of Class A common stock and Class B common stock are identical, except with respect to voting and conversion. Each share of Class A common stock is entitled to one vote per share and each share of Class B common stock is entitled to ten votes per share. Each share of Class B common stock is convertible at any time at the option of the stockholder into one share of Class A common stock and has no expiration date. Each share of Class B common stock will convert automatically into one share of Class A common stock upon the date when the outstanding shares of Class B common stock represent less than 10% of the aggregate number of shares of common stock then outstanding. Class A common stock is not convertible into Class B common stock. The computation of the diluted net loss per share of Class A common stock assumes the conversion of Class B common stock. |
Income taxes
Income taxes | 12 Months Ended |
Dec. 31, 2019 | |
Income Tax Disclosure [Abstract] | |
Income taxes | Income taxes Loss before income taxes consisted of the following: Year ended December 31, (in thousands) 2019 2018 2017 United States $ (28,233 ) $ (110,318 ) $ (123,325 ) Foreign 9,163 2,643 (53,062 ) $ (19,070 ) $ (107,675 ) $ (176,387 ) Income tax (benefit) expense consisted of the following: Year ended December 31, (in thousands) 2019 2018 2017 Current Federal $ (52 ) $ (2,821 ) $ (1,857 ) State 48 175 240 Foreign (4,391 ) 4,394 10,631 Total current (4,395 ) 1,748 9,014 Deferred Federal — 248 (248 ) Foreign (33 ) (637 ) (2,280 ) Total deferred (33 ) (389 ) (2,528 ) Income tax (benefit) expense $ (4,428 ) $ 1,359 $ 6,486 Year ended December 31, 2019 2018 2017 (dollars in thousands) $ % $ % $ % Reconciliation to statutory rate Tax at federal statutory rate $ (4,005 ) 21.0 % $ (22,612 ) 21.0 % $ (61,735 ) 35.0 % Change in valuation allowance 4,717 (24.7 ) 42,772 (39.7 ) (36,497 ) 20.7 DTA rate change impact due to TCJA — — — — 73,423 (41.6 ) Impact of foreign operations (3,949 ) 20.7 3,285 (3.1 ) 34,039 (19.3 ) Stock-based compensation 1,731 (9.1 ) 10,974 (10.2 ) 12,001 (6.8 ) State income taxes, net of federal benefit 1,872 (9.8 ) (2,997 ) 2.8 (6,469 ) 3.7 Impact of IRS audit — — (9,687 ) 9.0 — — Restructuring adjustment — — (18,694 ) 17.4 — — Tax credits (5,123 ) 26.8 (5,996 ) 5.6 (9,957 ) 5.6 Permanent tax adjustments 305 (1.6 ) 3,786 (3.5 ) — — Other 24 (0.1 ) 528 (0.6 ) 1,681 (1.0 ) Income tax provision at effective tax rate $ (4,428 ) 23.2 % $ 1,359 (1.3 )% $ 6,486 (3.7 )% The effective tax rate of 23.2% for 2019 resulted from a benefit primarily related to an overall decrease in losses before income taxes, a benefit from the reversal of a previously accrued tax provision on uncertain tax positions that were no longer necessary due to the expiration of the statute of limitations and settlements with certain taxing jurisdictions, partially offset by the valuation allowance on United States federal and state net deferred tax assets and a shortfall tax impact from stock-based compensation. The negative effective tax rate of 1.3% for 2018 resulted from a benefit related to the conclusion of the IRS audit and a benefit related to the set up and the activity of disregarded entities (foreign branches) for United States tax purposes, partially offset by the valuation allowance on United States federal and state net deferred tax assets and a shortfall tax impact from stock-based compensation. Overall, the provision for income taxes in each period has differed from the tax computed at the United States federal statutory tax rates due to changes in the valuation allowance, the effect of non-United States operations, deductible and non-deductible stock-based compensation expense, states income taxes, United States research and development tax credits, and other adjustments. Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. The Company did not have any significant deferred tax liabilities for the periods presented. Significant components of the Company’s deferred tax assets were as follows: Year ended December 31, (in thousands) 2019 2018 Deferred tax assets: Net operating loss carryforwards $ 163,832 $ 166,281 Tax credit carryforwards 75,624 70,189 Stock-based compensation 5,710 6,414 Allowance for returns 4,150 3,147 Intangible assets 5,384 4,591 Depreciation and amortization — 609 Accruals and reserves 23,857 20,975 Total deferred tax assets 278,557 272,206 Valuation allowance (277,693 ) (271,374 ) Net deferred tax assets, net of valuation allowance $ 864 $ 832 Recognition of deferred tax assets is appropriate when the realization of such assets is more likely than not. Based upon the weight of available evidence, the Company believes it is not more likely than not that the United States deferred tax assets will be realized. Accordingly, a valuation allowance has been established and maintained against United States deferred tax assets. The remaining deferred tax asset balances at December 31, 2019 reflect foreign deferred tax assets in each jurisdiction and are supported by taxable income or in the case of acquired companies, by the future reversal of deferred tax liabilities. It is more likely than not that the Company’s foreign deferred tax assets will be realized and thus, a valuation allowance is not required on its foreign deferred tax assets. The Company will continue to assess the realizability of the deferred tax assets in each of the applicable jurisdictions going forward. The Company’s valuation allowance increased by $6.3 million to $277.7 million as of December 31, 2019 , primarily due to a $5.0 million change in United States deferred tax assets and a $1.6 million change due to the adoption of new accounting standards, partially offset by a $0.3 million change in other deferred tax assets. As of December 31, 2019 , the Company’s federal, California and other state net operating loss carryforwards for income tax purposes were $635.2 million , $235.4 million and $230.5 million , net of reserves, respectively. Also, the Company’s federal and California state tax credit carryforwards were $44.0 million and $40.0 million , net of reserves, respectively. If not utilized, federal net operating losses that arose before 2018, federal credit and California loss carryforwards will begin to expire from 2030 to 2038, while other state loss carryforwards will begin to expire from 2020 to 2039. Federal net operating losses that arise after 2017 and all California tax credits will be carried forward indefinitely. Under the provisions of §382 of the Internal Revenue Code, a change of control may impose an annual limitation on the amount of the Company’s net operating loss and tax credit carryforwards that can be used to reduce future tax liabilities. Of the Company’s total $635.2 million federal net operating loss carryforwards, approximately $8.1 million was from one of the Company’s acquisitions in 2016. These acquired tax attributes are subject to an annual limitation of $1.7 million per year for federal purposes and will begin to expire in the year 2034, if not utilized. Uncertain income tax positions. The Company had gross unrecognized tax benefits of $27.2 million , $32.6 million and $58.6 million , as of December 31, 2019 , 2018 and 2017 , respectively. For fiscal year 2019 , 2018 and 2017 , total unrecognized income tax benefits were $12.5 million , $17.3 million and $19.8 million , respectively, and if recognized, would reduce income tax expense after considering the impact of the change in the valuation allowance in the United States. A material portion of the Company’s gross unrecognized tax benefits, if recognized, would increase the Company’s net operating loss carryforward, which would be offset by a full valuation allowance based on present circumstances. These unrecognized tax benefits relate primarily to unresolved matters with taxing authorities regarding the Company’s transfer pricing positions and tax positions based on the Company’s interpretation of certain United States trial and appellate court decisions, which remain subject to appeal and therefore could be overturned in future periods. While it is often difficult to predict the final outcome or the timing of resolution of any particular uncertain tax position, the Company believes that its reserves reflect the more likely outcome. The Company believes, due to statute of limitations expiration, that within the next 12 months it is possible that up to $13.0 million of uncertain tax position could be released. It is also reasonably possible that additional uncertain tax positions will be added. It is not reasonably possible at this time to quantify the net effect. A reconciliation of the beginning and ending amount of gross unrecognized income tax benefits are as follows: Year ended December 31, (in thousands) 2019 2018 2017 Balance at January 1 $ 32,556 $ 58,584 $ 56,909 Increase related to current year tax positions 250 483 20,002 Decrease related to tax rate change for current year tax positions — — (2,299 ) Increase related to prior year tax positions — 445 — Decrease related to prior year tax positions (5,628 ) (26,956 ) (3,927 ) Decrease related to tax rate change for prior year tax positions — — (12,101 ) $ 27,178 $ 32,556 $ 58,584 The Company’s policy is to account for interest and penalties related to income tax liabilities within the provision for income taxes. The balances of accrued interest and penalties recorded in the balance sheets and provision were not material for any period presented. The Company files income tax returns in the United States and in non-United States jurisdictions. As of December 31, 2019 , the Company continues to assert indefinite reinvestment to the extent of any foreign withholding taxes on the undistributed earnings related to these foreign branches. Any foreign withholding tax on these earnings is deemed not to be material. |
Commitments, contingencies and
Commitments, contingencies and guarantees | 12 Months Ended |
Dec. 31, 2019 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments, contingencies and guarantees | Commitments, contingencies and guarantees Facility Leases. The Company leases its facilities under long-term operating leases, which expire at various dates through 2027. The components of net lease cost, which were recorded in operating expenses, were as follows: Year ended December 31, (in thousands) 2019 (1) 2018 (2) 2017 (2) Operating lease cost $ 17,811 $ 13,649 $ 19,128 Sublease income (656 ) (765 ) (677 ) Net lease cost $ 17,155 $ 12,884 $ 18,451 (1) Operating lease cost includes variable lease costs, which are immaterial. (2) Represents rent expense and sublease income under ASC 840, Leases . Supplemental cash flow information related to leases was as follows: (in thousands) Year ended December 31, 2019 Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases $ 14,015 Right-of-use assets obtained in exchange for new operating lease liabilities 13,287 Supplemental balance sheet information related to leases was as follows: December 31, 2019 Weighted-average remaining lease term (in years) - operating leases 6.44 Weighted-average discount rate - operating leases 6.2% As of December 31, 2019 , maturities of operating lease liabilities under ASC 842, Leases , were as follows: (in thousands) December 31, 2019 2020 $ 13,339 2021 13,651 2022 12,803 2023 12,035 2024 11,897 Thereafter 25,065 Total lease payments 88,790 Less: Imputed interest (16,722 ) Present value of lease liabilities $ 72,068 As of December 31, 2018 , future minimum lease payments under ASC 840, Leases, were as follows: (in thousands) December 31, 2018 2019 $ 14,845 2020 17,654 2021 17,763 2022 17,552 2023 17,052 Thereafter 22,951 Total lease payments $ 107,817 Other Commitments. In the ordinary course of business, the Company enters into multi-year agreements to purchase sponsorships with event organizers, resorts and athletes as part of its marketing efforts; software licenses related to its financial and IT systems; debt agreements; and various other contractual commitments. As of December 31, 2019 , future commitments were as follows: (in thousands) Total 2020 2021 2022 2023 2024 Thereafter Sponsorship commitments $ 3,215 $ 1,682 $ 1,083 $ 450 $ — $ — $ — Other contractual commitments 36,614 22,006 12,867 1,741 — — — Long-term debt (1) 175,000 — — 175,000 — — — Total contractual cash obligations $ 214,829 $ 23,688 $ 13,950 $ 177,191 $ — $ — $ — (1) The Company's convertible senior notes are due April 2022. Refer to Note 4 Financing Arrangements . Legal proceedings and investigations On February 13, 2018 and February 27, 2018, two purported shareholder derivative lawsuits (the Consolidated Federal Derivative Actions) were filed in the United States District Court for the Northern District of California against certain of GoPro’s current and former directors and executive officers and naming the Company as a nominal defendant. The Consolidated Federal Derivative Actions are based on allegations similar to those in two now-resolved shareholder class actions - one filed in 2016 which was settled and received final approval of the Court on September 20, 2019, and the other filed in 2018 which had final judgment entered in favor of defendants on June 24, 2019, following the Court’s granting of defendants’ motion to dismiss. The Consolidated Federal Derivative Actions assert causes of action against the individual defendants for breach of fiduciary duty, and for making false and misleading statements about the Company’s business, operations and prospects in violation of Sections 10(b) and 14(a) of the Securities Exchange Act of 1934. The plaintiffs seek corporate reforms, disgorgement of profits from stock sales, and fees and costs. The Consolidated Federal Derivative Actions are currently stayed. Different shareholders filed two similar purported shareholder derivative actions on October 30, 2018 and November 7, 2018 in the Delaware Court of Chancery (the Consolidated Delaware Derivative Actions). Defendants’ motion to dismiss the Consolidated Delaware Derivative Actions is pending. Other shareholders filed similar purported shareholder derivative actions on December 26, 2018, February 15, 2019, and January 27, 2020 in the Delaware Court of Chancery. Those actions are either stayed or defendants’ time to respond to the complaint has not yet passed. On January 5, 2015, Contour LLC filed a complaint against the Company in federal court in Utah alleging, among other things, patent infringement in relation to certain GoPro cameras sold after November 2014. On November 30, 2015, Contour dismissed the Utah action. On November 30, 2015, Contour IP Holdings LLC (“CIPH”), a non-practicing entity re-filed a similar complaint in Delaware seeking unspecified damages. GoPro filed an inter partes review (IPR) at the US Patent and Trademark Office. The case was transferred to the Northern District of California in July 2017 and was stayed in favor of the IPR proceedings, most recently on December 12, 2018. Upon conclusion of the IPRs, the District Court lifted the stay on October 1, 2019. On October 8, 2019, the court entered a schedule for the remainder of the case, with trial currently scheduled to begin on August 31, 2020. We believe that this matter lacks merit and we intend to vigorously defend against CIPH. We regularly evaluate the associated developments of the legal proceedings described above, as well as other legal proceedings that arise in the ordinary course of business. While litigation is inherently uncertain, based on the currently available information, we are unable to determine a range of loss, and do not believe the ultimate cost to resolve these matters will have a material adverse effect on our business, financial condition, cash flows or results of operations . 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 December 31, 2019 , the Company has not paid any claims nor has it 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. |
Concentrations of risk and geog
Concentrations of risk and geographic information | 12 Months Ended |
Dec. 31, 2019 | |
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 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: December 31, 2019 December 31, 2018 Customer A 15% * Customer B 11% 11% Customer C * 12% * Less than 10% of net accounts receivable for the period indicated. The following table summarizes the Company’s accounts receivables sold, without recourse, and factoring fees paid: Year ended December 31, (in thousands) 2019 2018 2017 Accounts receivable sold $ 120,728 $ 126,220 $ 178,300 Factoring fees 1,509 1,639 1,630 Customers who represented 10% or more of the Company’s total revenue were as follows: Year ended December 31, 2019 2018 2017 Customer A 11% 13% 15% Supplier concentration. The Company relies on third parties for the supply and manufacture of its products, some of which are sole-source suppliers. The Company believes that outsourcing manufacturing enables greater scale and flexibility. As demand and product lines change, the Company periodically evaluates the need and advisability of adding manufacturers to support its operations. In instances where a supply and manufacture agreement does not exist or suppliers fail to perform their obligations, the Company may be unable to find alternative suppliers or satisfactorily deliver its products to its customers on time, if at all. The Company also relies on third parties with whom it outsources supply chain activities related to inventory warehousing, order fulfillment, distribution and other direct sales logistics . In instances where an outsourcing agreement does not exist or these third parties fail to perform their obligations, the Company may be unable to find alternative partners or satisfactorily deliver its products to its customers on time. Geographic information Revenue by geographic region was as follows: Year ended December 31, 2019 vs 2018 2018 vs 2017 (in thousands) 2019 2018 2017 % Change % Change Americas $ 523,975 $ 494,797 $ 582,917 6 % (15 )% Europe, Middle East and Africa (EMEA) 359,187 366,438 333,454 (2 ) 10 Asia and Pacific (APAC) 311,489 287,102 263,370 8 9 Total revenue $ 1,194,651 $ 1,148,337 $ 1,179,741 4 % (3 )% Revenue in the United States, which is included in the Americas geographic region, was $429.9 million , $401.1 million and $497.0 million for 2019 , 2018 and 2017 , respectively. No other individual country exceeded 10% of total revenue for any period presented. The Company does not disclose revenue by product category as it does not track sales incentives and other revenue adjustments by product category to report such data. As of December 31, 2019 and 2018 , long-lived assets, which represent net property and equipment, located outside the United States, primarily in Hong Kong and Mainland China, were $11.0 million and $15.9 million |
Restructuring charges
Restructuring charges | 12 Months Ended |
Dec. 31, 2019 | |
Restructuring and Related Activities [Abstract] | |
Restructuring charges | Restructuring charges Restructuring charges for each period were as follows: Year ended December 31, (in thousands) 2019 2018 2017 Cost of revenue $ 54 $ 1,379 $ 634 Research and development 585 12,794 10,092 Sales and marketing 314 5,291 7,047 General and administrative 501 3,279 2,519 Total restructuring charges $ 1,454 $ 22,743 $ 20,292 First quarter 2018 restructuring plan On January 2, 2018, the Company approved a restructuring plan to further reduce future operating expenses and better align resources around its long-term business strategy. The restructuring provided for a reduction of the Company's global workforce of approximately 18% , the closure of the Company's aerial group and the consolidation of certain leased office facilities. Under the first quarter 2018 restructuring plan, the Company recorded restructuring charges of $17.8 million , including $14.1 million related to severance and $3.7 million related to other charges. The following table provides a summary of the Company’s restructuring activities and the movement in the related liabilities recorded in accrued expenses and other current liabilities on the consolidated balance sheet under the first quarter 2018 restructuring plan. (in thousands) Severance Other Total Restructuring liability as of December 31, 2017 $ — $ — $ — Restructuring charges 14,107 3,686 17,793 Cash paid (12,460 ) (1,988 ) (14,448 ) Non-cash settlements (528 ) (1,299 ) (1,827 ) Restructuring liability as of December 31, 2018 1,119 399 1,518 Restructuring charges — 8 8 Cash paid (1,095 ) (25 ) (1,120 ) Non-cash reductions (24 ) (264 ) (288 ) Restructuring liability as of December 31, 2019 $ — $ 118 $ 118 First quarter 2017 restructuring plan On March 15, 2017, the Company approved a restructuring plan to reduce future operating expenses and further align resources around its long-term business strategy. The restructuring provided for a reduction of the Company’s global workforce by approximately 17% and the consolidation of certain leased office facilities. Under the first quarter 2017 restructuring plan, the Company recorded restructuring charges of $23.1 million , including $10.3 million related to severance, and $12.8 million related to accelerated depreciation and other charges. The actions associated with the first quarter 2017 restructuring plan were substantially completed by the fourth quarter of 2017. The following table provides a summary of the Company’s restructuring activities and the movement in the related liabilities recorded in accrued expenses and other current liabilities, and other long-term liabilities on the consolidated balance sheet under the first quarter 2017 restructuring plan. (in thousands) Severance Other Total Restructuring liability as of December 31, 2016 $ — $ — $ — Restructuring charges (1) 10,312 6,654 16,966 Cash paid (9,509 ) (151 ) (9,660 ) Non-cash reductions (803 ) (2,953 ) (3,756 ) Restructuring liability as of December 31, 2017 — 3,550 3,550 Restructuring charges (1) — 4,783 4,783 Cash paid — (3,293 ) (3,293 ) Non-cash charges — 627 627 Restructuring liability as of December 31, 2018 — 5,667 5,667 Restructuring charges (1) — 1,395 1,395 Cash paid — (2,257 ) (2,257 ) Non-cash reductions — (335 ) (335 ) Restructuring liability as of December 31, 2019 $ — $ 4,470 $ 4,470 (1) Includes lease termination charges, which is included in accrued expenses and other current liabilities, and other long-term liabilities in the accompanying consolidated balance sheets, and totaled $4.5 million as of December 31, 2019. Fourth quarter 2016 restructuring plan On November 29, 2016, the Company approved a restructuring plan to reduce future operating expenses. The restructuring provided for a reduction of the Company’s global workforce of approximately 15% , the closure of the Company’s entertainment group to concentrate on its core business and the consolidation of certain leased office facilities. Under the fourth quarter 2016 restructuring plan, the Company recorded restructuring charges of $40.0 million , including $36.8 million related to severance, and $3.2 million related to accelerated depreciation and other charges. The actions associated with the fourth quarter 2016 restructuring plan were substantially completed by March 31, 2017. The following table provides a summary of the Company’s restructuring activities and the movement in the related liabilities recorded in accrued expenses and other current liabilities on the consolidated balance sheet under the fourth quarter 2016 restructuring plan. (in thousands) Severance Other Total Restructuring liability as of December 31, 2016 $ 9,660 $ 879 $ 10,539 Restructuring charges 2,134 1,055 3,189 Cash paid (11,411 ) (1,884 ) (13,295 ) Non-cash settlements 17 — 17 Restructuring liability as of December 31, 2017 400 50 450 Restructuring charges 143 — 143 Cash paid (244 ) — (244 ) Restructuring liability as of December 31, 2018 299 50 349 Restructuring charges 51 — 51 Cash paid (78 ) — (78 ) Non-cash reductions — (50 ) (50 ) Restructuring liability as of December 31, 2019 $ 272 $ — $ 272 |
Valuation and Qualifying Accoun
Valuation and Qualifying Accounts | 12 Months Ended |
Dec. 31, 2019 | |
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract] | |
SEC Schedule, 12-09, Schedule of Valuation and Qualifying Accounts Disclosure [Text Block] | VALUATION AND QUALIFYING ACCOUNTS For the year ended December 31, 2019 , 2018 and 2017 (in thousands) Balance at Beginning of Year Charges to Revenue Charges (Benefits) to Expense Charges to Other Accounts - Equity Deductions/Write-offs Balance at End of Year Allowance for doubtful accounts receivable: Year ended December 31, 2019 $ 500 $ — $ 616 $ — $ (286 ) $ 830 Year ended December 31, 2018 750 — 199 — (449 ) 500 Year ended December 31, 2017 1,281 — (263 ) — (268 ) 750 Valuation allowance for deferred tax assets: Year ended December 31, 2019 $ 271,374 $ — $ 4,717 $ 1,602 $ — $ 277,693 Year ended December 31, 2018 226,458 — 42,772 2,144 — 271,374 Year ended December 31, 2017 110,433 — (36,497 ) 152,522 — 226,458 |
Summary of business and signi_2
Summary of business and significant accounting policies (Policies) | 12 Months Ended |
Dec. 31, 2019 | |
Accounting Policies [Abstract] | |
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block] | Stock-based compensation. Stock-based awards granted to qualified employees, non-employee directors and consultants are measured at fair value and recognized as an expense. The Company primarily issues restricted stock units and accounts for forfeitures as they occur. For service-based awards, stock-based compensation is recognized on a straight-line basis over the requisite service period. For performance and market-based awards which also require a service period, the Company uses graded vesting over the longer of the derived service period or when the performance or market condition is satisfied. |
Foreign Currency Transactions and Translations Policy [Policy Text Block] | Foreign currency. |
Income Tax, Policy [Policy Text Block] | Income taxes. The Company utilizes the asset and liability method for computing its income tax provision, under which deferred tax assets and liabilities are recognized for the expected future consequences of temporary differences between the financial reporting and tax bases of assets and liabilities using enacted tax rates. Management makes estimates, assumptions and judgments to determine the Company’s provision for income taxes, deferred tax assets and liabilities, and any valuation allowance recorded against deferred tax assets. The Company assesses the likelihood that its deferred tax assets will be recovered from future taxable income and, to the extent the Company believes recovery is not likely, establishes a valuation allowance. On January 1, 2018, the Company adopted ASU 2016-16 Income Taxes - Intra-Entity Transfers of Assets Other Than Inventory which required the Company to recognize the income tax consequence of intra-entity asset transfers when transfers occur. Upon adoption, the net impact to equity was an increase in the accumulated deficit of $15.0 million . Prior to January 1, 2018, the Company recognized the income tax consequence of intra-entity asset transfers when the asset was sold to an outside party or otherwise recovered through use. The Company recognizes the tax benefit from an uncertain tax position only if it is more likely than not the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The tax benefits recognized from such positions are then measured based on the largest benefit that has a greater than 50% likelihood of being realized upon settlement. Interest and penalties related to unrecognized tax benefits are recognized within income tax expense. |
Fair Value Measurement, Policy [Policy Text Block] | Fair value measurements. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the reporting date. The Company estimates and categorizes the fair value of its financial assets by applying the following hierarchy: Level 1 Valuations based on quoted prices in active markets for identical assets or liabilities that the Company has the ability to directly access. Level 2 Valuations based on quoted prices for similar assets or liabilities; valuations for interest-bearing securities based on non-daily quoted prices in active markets; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable data for substantially the full term of the assets or liabilities. Level 3 Valuations based on inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. |
Property, Plant and Equipment, Policy [Policy Text Block] | Property and equipment, net. Property and equipment are stated at cost and are depreciated using the straight-line method over the estimated useful life of the assets, ranging from one to nine years . Leasehold improvements are amortized over the shorter of the lease term or their expected useful life. Property and equipment pending installation, configuration or qualification are classified as construction in progress. Costs of maintenance and repairs that do not improve or extend the lives of the respective assets are expensed as incurred. |
Inventory, Policy [Policy Text Block] | Inventory. Inventory consists of finished goods and component parts, which are purchased directly from contract manufacturers or from suppliers. Inventory is stated at the lower of cost or net realizable value on a first-in, first-out basis. The Company writes down its inventory for estimated obsolescence or excess inventory equal to the difference between the cost of inventory and estimated market value plus the estimated cost to sell. The Company’s assessment of market value is based upon assumptions around market conditions and estimated future demand for its products within a specified time horizon, generally 12 months. Adjustments to reduce inventory to net realizable value are recognized in cost of revenue. |
Basis of presentation | Basis of presentation. The accompanying consolidated financial statements have been prepared in accordance with United States 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. |
Principles of consolidation | Principles of consolidation. These consolidated financial statements include all the accounts of the Company and its wholly owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. |
Use of estimates | Use of estimates. The preparation of consolidated financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the amounts reported and disclosed in the Company’s consolidated financial statements and accompanying notes. Significant estimates and assumptions made by management include those related to revenue recognition (including sales incentives, sales returns and implied post contract support), stock-based compensation, inventory valuation, product warranty liabilities, the valuation and useful lives of long-lived assets (property and equipment, operating leases, 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) | Comprehensive income (loss). |
Comparability of Prior Year Financial Data, Policy [Policy Text Block] | Prior period reclassifications. Reclassifications of certain prior period amounts in the consolidated financial statements, including a refinement in methodology for revenue by geography, have been made to conform to the current period presentation. |
Lessee, Operating Leases [Text Block] | Leases. The Company leases its office space and facilities under cancelable and non-cancelable operating leases. Beginning January 1, 2019, operating leases are presented as operating lease right-of-use (ROU) assets, short-term operating lease liabilities and long-term operating lease liabilities on the Company’s consolidated balance sheets. ROU assets represent the Company’s right to control the use of an underlying asset for the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at the lease commencement date based on the present value of future lease payments. The Company determines its incremental borrowing rate based on the approximate rate at which the Company would borrow, on a secured basis, to calculate the present value of future lease payments. Lease expenses are recognized on a straight-line basis over the lease term. Certain leases include an option to renew with terms that can extend the lease term from one to five years. The exercise of a lease renewal option is at the Company’s sole discretion and is included in the lease term when the Company is reasonably certain it will exercise the option. Prior to January 1, 2019, the Company recognized leases under ASC 840, Leases , which had the following differences from the current lease standard, ASC 842, Leases: • Operating leases were previously not recorded on the Company’s consolidated balance sheets. • The Company calculated a liability for future costs to be incurred under a lease for its remaining term without economic benefit to the Company upon determination of a cease-use date. The fair value of the liability was determined based on remaining lease payments, estimated sublease income and the effects of any prepaid or deferred items recognized under the lease. |
Revenue Recognition, Policy [Policy Text Block] | Revenue recognition. The Company derives substantially all of its revenue from the sale of cameras, mounts and accessories, the related implied post contract support to customers, and subscription services. The Company recognizes revenue when control of the promised goods or services is transferred to customers, in an amount that reflects the consideration the Company expects to be entitled to in exchange for those goods or services. The transaction price the Company expects to be entitled to is primarily comprised of product revenue, net of returns and variable consideration, including sales incentives provided to customers. For most of the Company’s revenue, revenue is recognized at the time products are delivered and when collection is considered probable. For the Company’s subscription services, revenue is recognized on a ratable basis over the subscription term, with payments received in advance of services being rendered recorded in deferred revenue. For customers who purchase products directly from gopro.com, the Company retains a portion of the risk of loss on these sales during transit, which are accounted for as fulfillment costs. The Company provides sales commissions to internal and external sales representatives which are earned in the period in which revenue is recognized. As a result, the Company expenses such costs as incurred under Accounting Standards Update (ASU) 2014-19 Revenue from Contracts with Customers , which was adopted on January 1, 2018. Upon adoption, the Company’s accumulated deficit increased by $2.9 million , of which, $4.9 million related to certain estimated sales incentives which would have been recognized at the time product was shipped in the prior period, partially offset by $2.0 million related to sales from gopro.com that had been shipped but not delivered as of December 31, 2017. The Company's standard terms and conditions of sale for non-web based sales do not allow for product returns other than under warranty. However, the Company grants limited rights of return, primarily to certain large retailers. The Company reduces revenue and cost of sales for the estimated returns based on analyses of historical return trends by customer class and other factors. An estimated return liability along with a right to recover assets are recorded for future product returns. Return trends are influenced by product life cycles, new product introductions, market acceptance of products, product sell-through, the type of customer, seasonality and other factors. Return rates may fluctuate over time but are sufficiently predictable to allow the Company to estimate expected future product returns. The Company’s camera sales contain multiple performance obligations that generally include the following three separate obligations: a) a hardware component (camera) and the embedded firmware essential to the functionality of the hardware component delivered at the time of sale, b) the implicit right to the Company's downloadable free apps and software solutions, and c) the implied right for the customer to receive support after the initial sale (post contract support or PCS). The Company’s PCS includes the right to receive on a when and if available basis, future unspecified firmware upgrades and features as well as bug fixes, and email and telephone support. The Company allocates a portion of the transaction price to the PCS performance obligation based on a cost-plus methodology. The transaction price is allocated to the remaining performance obligations on a residual value methodology. The Company’s process to allocate the transaction price considers multiple factors that may vary over time depending upon the unique facts and circumstances related to each deliverable, including: the level of support provided to customers, estimated costs to provide the Company’s support, the amount of time and cost that is allocated to the Company’s efforts to develop the undelivered elements and market trends in the pricing for similar offerings. The transaction prices allocated to the delivered hardware, related embedded firmware and free software solutions are recognized as revenue at the time of sale, provided the conditions for recognition of revenue have been met. The transaction price allocated to PCS is deferred and recognized as revenue on a straight-line basis over the estimated term of the support period, which is estimated to be 15 months based on historical experience. Deferred revenue as of December 31, 2019 and 2018 also included immaterial amounts related to the Company’s GoPro Care and GoPro Plus fee-based service offerings. The Company’s short-term and long-term deferred revenue balances totaled $16.6 million and $16.1 million as of December 31, 2019 and 2018 , respectively, and the Company recognized $15.0 million and $17.3 million of related revenue during the year ended December 31, 2019 and 2018 , respectively. Prior to January 1, 2018, the Company recognized revenue under Accounting Standards Codification (ASC) 605, Revenue Recognition . ASC 605 is materially similar to ASC 606, Revenue from Contracts with Customers , with the following differences: • The Company recognized revenue when persuasive evidence of an arrangement existed, delivery had occurred, the sales price was fixed and determinable and collectability was reasonably assured. • The Company allocated the transaction price based on its best estimate of the selling price (BESP). The Company’s process for determining BESP was materially the same as its’ current allocation of the transaction price to each performance obligations. • Sales incentives were recorded as a reduction to revenue in the period the incentives were offered to customers ore the related revenue was recognized, whichever was later. Additionally, the Company allocated the transaction price based on its best estimate of the selling price (BESP). The Company’s process for determining BESP was materially the same as its’ current allocation of the transaction price to each performance obligation. Lastly, sales incentives were recorded as a reduction to revenue in the period the incentives were offered to customers or the related revenue was recognized, whichever was later. |
Sales Incentives [Policy Text Block] | Sales incentives. The Company offers sales incentives through various programs, including cooperative advertising, price protection, marketing development funds and other incentives. Sales incentives are considered to be variable consideration, which the Company estimates and records as a reduction to revenue at the date of sale. The Company estimates sales incentives based on historical experience, product sell-through and other factors. |
Segment Reporting, Policy [Policy Text Block] | Segment information. The Company operates as one operating segment as it only reports financial information on an aggregate and consolidated basis to its Chief Executive Officer, who is the Company’s chief operating decision maker. |
Schedule of recent accounting pronouncements | Recent accounting standards Standard Description Company’s date of adoption Effect on the consolidated financial statements or other significant matters Standards that were adopted Leases ASU No. 2016-02, 2018-10, 2018-11, 2019-01, (ASC 842) This standard replaces existing lease guidance for lessees and requires operating leases to be recognized on the balance sheet. Under the new standard, lessees recognize a lease liability for the present value of future lease payments and a corresponding right-to-use asset. January 1, 2019 The new standard was applied using a modified retrospective approach. Prior periods were not retrospectively adjusted. The Company completed its analysis of the impact of the standard by reviewing its lease agreements to identify changes resulting from applying the requirements of the new standard. The Company elected to utilize a package of practical expedients, which among other things, allowed the Company to maintain its existing classification of its current leases. The Company also elected the hindsight practical expedient to determine a reasonably certain lease term for existing leases. Additionally, the Company made a policy election to maintain its previous lease accounting for leases with an initial term of 12 months or less. Furthermore, the Company made the policy election to not separate non-lease components from lease components. The Company’s analysis of its lease agreements under the new standard resulted in the recognition of lease liabilities of $88.4 million and lease assets of $60.1 million on its consolidated balance sheet as of January 1, 2019. The new standard did not have a material impact on the Company’s consolidated income statement and consolidated statement of cash flows. The cumulative effect of the changes made to the Company’s consolidated January 1, 2019 balance sheet for the adoption of ASC 842, Leases were as follows: (in thousands) Balance at December 31, 2018 Adjustment due to ASC 842 Balance at January 1, 2019 Operating lease right-of-use assets $ — $ 60,111 $ 60,111 Property and equipment, net (1) 46,567 (57 ) 46,510 Accrued expenses and other current liabilities (2) 135,892 (4,332 ) 131,560 Short-term operating lease liabilities — 10,812 10,812 Long-term operating lease liabilities — 77,545 77,545 Other long-term liabilities (2) 28,203 (23,900 ) 4,303 Accumulated deficit (569,030 ) (61 ) (569,091 ) (1) Represents the reclassification of leasehold acquisition costs to operating lease right-of-use assets. (2) Represents the reclassification of deferred rent, tenant incentives and accrued cease-use charges to operating lease right-of-use assets. |
Recent accounting pronouncements | Standard Description Expected date of adoption Effect on the consolidated financial statements or other significant matters Standards not yet adopted Intangible - Goodwill and Other ASU No. 2017-04 (Topic 350) This standard simplifies the accounting for goodwill and removes Step 2 of the annual goodwill impairment test. Upon adoption, goodwill impairment will be determined based on the amount by which a reporting unit’s carrying value exceeds its fair value, not to exceed the carrying amount of goodwill. Early adoption is permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017, and requires use of a prospective transition method. January 1, 2020 The Company does not expect that the adoption of this standard will have a material impact on its consolidated financial statements and related disclosures. Financial Instruments - Credit Losses: Measurement of Credit Losses on Financial Instruments ASU No. 2016-13 (Topic 326) The standard changes the impairment model for most financial assets and replaces the existing incurred loss model with a current expected credit loss (CECL) model. The standard should be applied on a modified retrospective approach. January 1, 2020 The Company’s allowance for doubtful accounts and valuation of available-for-sale securities are subject to this standard. The Company has finalized its analysis of adopting this standard and concluded the standard will not have a material impact on its consolidated financial statements and related disclosures. Although there are several other new accounting standards issued or proposed by the FASB, which the Company has adopted or will adopt, as applicable, the Company does not believe any of these accounting pronouncements has had or will have a material impact on its consolidated financial statements. |
Cash, Cash Equivalents, and Marketable Securities [Text Block] | Cash equivalents and marketable securities. Cash equivalents primarily consist of investments in money market funds with maturities of three months or less from the date of purchase. Marketable securities consist of commercial paper, U.S. treasury securities and corporate debt securities, and are classified as available-for-sale securities. The Company views these securities as available to support current operations and has classified all available-for-sale securities as current assets. Available-for-sale securities are carried at fair value with unrealized gains and losses, if any, included in stockholders’ equity. Unrealized losses are charged against other income, net, for declines in fair value below the cost of an individual investment that is deemed to be other than temporary. The Company has not identified any marketable securities as other-than-temporarily impaired for the periods presented. The cost of securities sold is based upon a specific identification method. |
Receivables, Trade and Other Accounts Receivable, Allowance for Doubtful Accounts, Policy [Policy Text Block] | Accounts receivable and allowance for doubtful accounts. Accounts receivable are stated at invoice value less estimated allowances for doubtful accounts. Allowances are recorded based on the Company’s assessment of various factors, such as: historical experience, credit quality of its customers, age of the accounts receivable balances, geographic related risks, economic conditions and other factors that may affect a customer’s ability to pay. The allowance for doubtful accounts as of December 31, 2019 and 2018 was $0.8 million and $0.5 million , respectively. |
Property, Plant and Equipment, Policy [Policy Text Block] | Point of purchase (POP) displays. The Company provides retailers with POP displays, generally free of charge, in order to facilitate the marketing of the Company’s products within retail stores. The POP displays contain a display that broadcasts video images taken by GoPro cameras along with product placement available for cameras and accessories. POP display costs are capitalized as long-term assets and charged to sales and marketing expense over the expected period of benefit, which generally ranges from 24 to 36 months . Cash outflows and amortization related to POP displays are classified as operating activities in the consolidated statement of cash flows. Amortization was $7.5 million , $13.5 million and $19.2 million in 2019 , 2018 and 2017 |
Goodwill and Intangible Assets, Policy [Policy Text Block] | Goodwill and other intangible assets. Goodwill represents the excess of the purchase price over the fair value of the net assets acquired in a business combination. Acquired intangible assets other than goodwill are amortized over their useful lives unless the lives are determined to be indefinite. For intangible assets acquired in a business combination, the estimated fair values of the assets received are used to establish their recorded values. Valuation approaches consistent with the market approach, income approach and/or cost approach are used to measure fair value. |
Impairment or Disposal of Long-Lived Assets, Including Intangible Assets, Policy [Policy Text Block] | Impairment of goodwill and long-lived assets. The Company performs an annual assessment of its goodwill during the fourth quarter of each calendar year or more frequently if indicators of potential impairment exist, such as an adverse change in business climate or a decline in the overall industry demand, that would indicate it is more likely than not that the fair value of its single reporting unit is less than its carrying value. There was no impairment of goodwill recorded for any periods presented. For the Company’s annual impairment testing in 2019 , the Company did not identify any indicators of potential impairment of its single reporting unit. Other indefinite-lived intangible assets are assessed for impairment at least annually. If their carrying value exceeds the estimated fair value, the difference is recorded as an impairment. Long-lived assets, such as property and equipment and intangible assets subject to amortization, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset group may not be recoverable. Recoverability of assets to be held and used is measured by comparing the carrying amount to the estimated future undiscounted cash flows expected to be generated by the asset group. If it is determined that an asset group is not recoverable, an impairment charge is recognized for the amount by which the carrying amount of the asset group exceeds its fair value. There were no material impairments of long-lived assets for any period presented. |
Standard Product Warranty, Policy [Policy Text Block] | Warranty. The Company records a liability for estimated product warranty costs at the time product revenue is recognized. The Company’s standard warranty obligation to its end-users generally provides a 12 -month warranty coverage on all of its products except in the European Union where the Company provides a 2 -year warranty. The Company also offers extended warranty programs for a fee. The Company’s estimate of costs to service its warranty obligations is based on its historical experience of repair and replacement of the associated products and expectations of future conditions. The warranty obligation is affected by product failure rates and the related use of materials, labor costs and freight incurred in correcting any product failure. |
Shipping and Handling Cost, Policy [Policy Text Block] | Shipping costs. |
Sales Taxes [Policy Text Block] | Sales taxes. |
Advertising Cost, Policy, Expensed Advertising Cost [Policy Text Block] | Advertising costs. Advertising costs consist of costs associated with print, television and e-commerce media advertisements and are expensed as incurred. The Company incurs promotional expenses resulting from payments under event, resort and athlete sponsorship contracts. These sponsorship arrangements are considered to be executory contracts and, as such, the costs are expensed as performance under the contract is received. The costs associated with the preparation of sponsorship activities, including the supply of GoPro products, media team support, and activation fees are expensed as incurred. Prepayments made under sponsorship agreements are included in prepaid expenses or other long-term assets depending on the period to which the prepayment applies. Advertising costs were $67.3 million , $73.0 million and $61.3 million in 2019 , 2018 and 2017 , respectively. |
Summary of business and signi_3
Summary of business and significant accounting policies (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Accounting Policies [Abstract] | |
Schedule of recent accounting pronouncements | Recent accounting standards Standard Description Company’s date of adoption Effect on the consolidated financial statements or other significant matters Standards that were adopted Leases ASU No. 2016-02, 2018-10, 2018-11, 2019-01, (ASC 842) This standard replaces existing lease guidance for lessees and requires operating leases to be recognized on the balance sheet. Under the new standard, lessees recognize a lease liability for the present value of future lease payments and a corresponding right-to-use asset. January 1, 2019 The new standard was applied using a modified retrospective approach. Prior periods were not retrospectively adjusted. The Company completed its analysis of the impact of the standard by reviewing its lease agreements to identify changes resulting from applying the requirements of the new standard. The Company elected to utilize a package of practical expedients, which among other things, allowed the Company to maintain its existing classification of its current leases. The Company also elected the hindsight practical expedient to determine a reasonably certain lease term for existing leases. Additionally, the Company made a policy election to maintain its previous lease accounting for leases with an initial term of 12 months or less. Furthermore, the Company made the policy election to not separate non-lease components from lease components. The Company’s analysis of its lease agreements under the new standard resulted in the recognition of lease liabilities of $88.4 million and lease assets of $60.1 million on its consolidated balance sheet as of January 1, 2019. The new standard did not have a material impact on the Company’s consolidated income statement and consolidated statement of cash flows. The cumulative effect of the changes made to the Company’s consolidated January 1, 2019 balance sheet for the adoption of ASC 842, Leases were as follows: (in thousands) Balance at December 31, 2018 Adjustment due to ASC 842 Balance at January 1, 2019 Operating lease right-of-use assets $ — $ 60,111 $ 60,111 Property and equipment, net (1) 46,567 (57 ) 46,510 Accrued expenses and other current liabilities (2) 135,892 (4,332 ) 131,560 Short-term operating lease liabilities — 10,812 10,812 Long-term operating lease liabilities — 77,545 77,545 Other long-term liabilities (2) 28,203 (23,900 ) 4,303 Accumulated deficit (569,030 ) (61 ) (569,091 ) (1) Represents the reclassification of leasehold acquisition costs to operating lease right-of-use assets. (2) Represents the reclassification of deferred rent, tenant incentives and accrued cease-use charges to operating lease right-of-use assets. |
Fair value measurements (Tables
Fair value measurements (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Fair Value Disclosures [Abstract] | |
Assets measured at fair value on recurring basis | The Company’s assets that are measured at fair value on a recurring basis within the fair value hierarchy are summarized as follows: December 31, 2019 December 31, 2018 (in thousands) Level 1 Level 2 Total Level 1 Level 2 Total Cash equivalents (1) : Money market funds $ 4,413 $ — $ 4,413 $ 10,901 $ — $ 10,901 Commercial paper — — — 7,577 — 7,577 Total cash equivalents $ 4,413 $ — $ 4,413 $ 18,478 $ — $ 18,478 Marketable securities: U.S. treasury securities $ — $ — $ — $ — $ 6,336 $ 6,336 Commercial paper — — — 20,657 — 20,657 Corporate debt securities — 14,847 14,847 — 18,424 18,424 Total marketable securities $ — $ 14,847 $ 14,847 $ 20,657 $ 24,760 $ 45,417 (1) Included in cash and cash equivalents in the accompanying consolidated balance sheets. Cash balances were $145.9 million and $133.6 million as of December 31, 2019 and 2018, respectively. |
Condensed consolidated financ_2
Condensed consolidated financial statement details (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Schedule of Inventory | Inventory (in thousands) December 31, 2019 December 31, 2018 Components $ 20,370 $ 19,205 Finished goods 123,866 97,253 Total inventory $ 144,236 $ 116,458 |
Property, Plant and Equipment | Property and equipment, net (in thousands) Useful life (in years) December 31, 2019 December 31, 2018 Leasehold improvements 1–9 $ 50,736 $ 66,198 Production, engineering and other equipment 1-4 45,649 43,019 Tooling 1–2 19,216 17,808 Computers and software 2 21,719 20,865 Furniture and office equipment 3 10,846 14,969 Tradeshow equipment and other 2–5 7,009 7,009 Construction in progress 45 80 Gross property and equipment 155,220 169,948 Less: Accumulated depreciation and amortization (118,681 ) (123,381 ) Property and equipment, net $ 36,539 $ 46,567 |
Schedule of Finite-Lived Intangible Assets | Intangible assets Useful life (in months) December 31, 2019 (in thousands) Gross carrying value Accumulated amortization Net carrying value Purchased technology 20-72 $ 50,501 $ (45,269 ) $ 5,232 Domain name 15 — 15 Total intangible assets $ 50,516 $ (45,269 ) $ 5,247 Useful life (in months) December 31, 2018 (in thousands) Gross carrying value Accumulated amortization Net carrying value Purchased technology 20-72 $ 50,501 $ (37,451 ) $ 13,050 Domain name 15 — 15 Total intangible assets $ 50,516 $ (37,451 ) $ 13,065 |
Schedule of Future Amortization | At December 31, 2019 , expected amortization expense of intangible assets with definite lives for future periods was as follows: (in thousands) Total Year ending December 31, 2020 $ 4,363 2021 869 $ 5,232 |
Schedule of Other Assets | Other long-term assets (in thousands) December 31, 2019 December 31, 2018 Point of purchase (POP) displays $ 7,595 $ 9,130 Long-term deferred tax assets 864 945 Deposits and other 7,002 8,120 Other long-term assets $ 15,461 $ 18,195 |
Schedule of Accrued Liabilities | Accrued expenses and other current liabilities (in thousands) December 31, 2019 December 31, 2018 Accrued payables (1) $ 42,153 $ 34,696 Accrued sales incentives 39,120 40,918 Employee related liabilities (1) 20,494 19,775 Return liability 14,854 13,100 Warranty liability 9,899 9,604 Inventory received 5,737 5,061 Customer deposits 2,063 3,105 Purchase order commitments 1,710 2,015 Income taxes payable 1,166 1,948 Other 4,594 5,670 Accrued expenses and other current liabilities $ 141,790 $ 135,892 (1) See Note 11 Restructuring charges for amounts associated with restructuring liabilities. |
Schedule of Product Warranty Liability | Product warranty Year ended December 31, (in thousands) 2019 2018 2017 Beginning balance $ 10,971 $ 10,373 $ 11,945 Charged to cost of revenue 16,933 24,725 20,139 Settlement of warranty claims (16,506 ) (24,127 ) (21,711 ) Warranty liability $ 11,398 $ 10,971 $ 10,373 At December 31, 2019 and 2018 , $9.9 million and $9.6 million of the warranty liability was recorded as a component of accrued expenses and other current liabilities, respectively, and $1.5 million and $1.4 million |
Stockholders' equity (Tables)
Stockholders' equity (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Equity [Abstract] | |
Disclosure of Share-based Compensation Arrangements by Share-based Payment Award [Table Text Block] | The Company had the following shares of common stock reserved for issuance upon the exercise of equity instruments as of December 31, 2019 : (in thousands) December 31, 2019 Stock options outstanding 3,963 Restricted stock units outstanding 8,225 Performance stock units outstanding 788 Common stock available for future grants 32,358 Total common stock shares reserved for issuance 45,334 |
Employee benefit plans (Tables)
Employee benefit plans (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | The fair value of stock options granted was estimated as of the grant date using the following assumptions: Year ended December 31, 2019 2018 2017 Volatility 50%-52% 51% 44%-49% Expected term (years) 6.1 5.4-6.1 5.3-5.8 Risk-free interest rate 1.5%-2.2% 2.7%-3.0% 1.8%-2.1% Dividend yield —% —% —% |
Schedule of Share-based Payment Award, Employee Stock Purchase Plan, Valuation Assumptions [Table Text Block] | The fair value of stock purchase rights granted under the ESPP was estimated using the following assumptions: Year ended December 31, 2019 2018 2017 Volatility 41%-54% 48%-53% 33%-36% Expected term (years) 0.5 0.5 0.5 Risk-free interest rate 1.9%-2.5% 1.8%-2.2% 0.7%-1.2% Dividend yield —% —% —% |
schedule of share-based compensation, Performance Stock Units Award Activity [Table Text Block] | A summary of the Company’s PSU activity is as follows: Shares (in thousands) Weighted-average grant date fair value Non-vested shares at December 31, 2018 300 $ 5.76 Granted 819 7.51 Forfeited (331 ) 5.93 Non-vested shares at December 31, 2019 788 $ 7.51 |
Schedule of Share-based Compensation, Stock Options, Activity | A summary of the Company’s stock option activity is as follows: Shares (in thousands) Weighted-average Weighted-average remaining contractual term (in years) Aggregate intrinsic value Outstanding at December 31, 2018 5,993 $ 7.28 5.44 $ 7,897 Granted 527 7.42 Exercised (2,158 ) 0.75 Forfeited/Cancelled (399 ) 14.29 Outstanding at December 31, 2019 3,963 $ 10.16 6.35 $ 374 Vested and expected to vest at December 31, 2019 3,963 $ 10.16 6.35 $ 374 Exercisable at December 31, 2019 2,987 $ 11.25 5.56 $ 370 |
Schedule of Share-based Compensation, Restricted Stock Units Award Activity | A summary of the Company’s RSU activity is as follows: Shares (in thousands) Weighted-average grant date fair value Non-vested shares at December 31, 2018 7,217 $ 8.15 Granted 6,104 5.70 Vested (3,925 ) 8.90 Forfeited (1,171 ) 7.25 Non-vested shares at December 31, 2019 8,225 $ 6.11 |
Allocation of Stock-based Compensation Expense | The following table summarizes stock-based compensation expense included in the consolidated statements of operations: Year ended December 31, (in thousands) 2019 2018 2017 Cost of revenue $ 1,902 $ 1,954 $ 1,935 Research and development 17,167 19,636 24,963 Sales and marketing 8,043 9,459 10,498 General and administrative 10,076 9,838 13,859 Total stock-based compensation expense $ 37,188 $ 40,887 $ 51,255 |
Net loss per share (Tables)
Net loss per share (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Earnings Per Share [Abstract] | |
Schedule of Net Income per Share, Basic and Diluted | The following table presents the calculations of basic and diluted net loss per share: Year ended December 31, (in thousands, except per share data) 2019 2018 2017 Numerator: Net loss $ (14,642 ) $ (109,034 ) $ (182,873 ) Denominator: Weighted-average common shares—basic and diluted for Class A and Class B common stock 144,891 139,495 138,056 Basic and diluted net loss per share $ (0.10 ) $ (0.78 ) $ (1.32 ) |
Schedule of Antidilutive Securities Excluded from Computation of Net Income per Share | The following potentially dilutive shares were not included in the calculation of diluted shares outstanding as the effect would have been anti-dilutive: Year ended December 31, (in thousands) 2019 2018 2017 Anti-dilutive stock-based awards 13,039 15,356 19,022 |
Income taxes (Tables)
Income taxes (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Income Tax Disclosure [Abstract] | |
Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block] | Loss before income taxes consisted of the following: Year ended December 31, (in thousands) 2019 2018 2017 United States $ (28,233 ) $ (110,318 ) $ (123,325 ) Foreign 9,163 2,643 (53,062 ) $ (19,070 ) $ (107,675 ) $ (176,387 ) |
Summary of Income Tax Contingencies [Table Text Block] | A reconciliation of the beginning and ending amount of gross unrecognized income tax benefits are as follows: Year ended December 31, (in thousands) 2019 2018 2017 Balance at January 1 $ 32,556 $ 58,584 $ 56,909 Increase related to current year tax positions 250 483 20,002 Decrease related to tax rate change for current year tax positions — — (2,299 ) Increase related to prior year tax positions — 445 — Decrease related to prior year tax positions (5,628 ) (26,956 ) (3,927 ) Decrease related to tax rate change for prior year tax positions — — (12,101 ) $ 27,178 $ 32,556 $ 58,584 |
Schedule of Components of Income Tax Expense (Benefit) | Income tax (benefit) expense consisted of the following: Year ended December 31, (in thousands) 2019 2018 2017 Current Federal $ (52 ) $ (2,821 ) $ (1,857 ) State 48 175 240 Foreign (4,391 ) 4,394 10,631 Total current (4,395 ) 1,748 9,014 Deferred Federal — 248 (248 ) Foreign (33 ) (637 ) (2,280 ) Total deferred (33 ) (389 ) (2,528 ) Income tax (benefit) expense $ (4,428 ) $ 1,359 $ 6,486 |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | Year ended December 31, 2019 2018 2017 (dollars in thousands) $ % $ % $ % Reconciliation to statutory rate Tax at federal statutory rate $ (4,005 ) 21.0 % $ (22,612 ) 21.0 % $ (61,735 ) 35.0 % Change in valuation allowance 4,717 (24.7 ) 42,772 (39.7 ) (36,497 ) 20.7 DTA rate change impact due to TCJA — — — — 73,423 (41.6 ) Impact of foreign operations (3,949 ) 20.7 3,285 (3.1 ) 34,039 (19.3 ) Stock-based compensation 1,731 (9.1 ) 10,974 (10.2 ) 12,001 (6.8 ) State income taxes, net of federal benefit 1,872 (9.8 ) (2,997 ) 2.8 (6,469 ) 3.7 Impact of IRS audit — — (9,687 ) 9.0 — — Restructuring adjustment — — (18,694 ) 17.4 — — Tax credits (5,123 ) 26.8 (5,996 ) 5.6 (9,957 ) 5.6 Permanent tax adjustments 305 (1.6 ) 3,786 (3.5 ) — — Other 24 (0.1 ) 528 (0.6 ) 1,681 (1.0 ) Income tax provision at effective tax rate $ (4,428 ) 23.2 % $ 1,359 (1.3 )% $ 6,486 (3.7 )% |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | Significant components of the Company’s deferred tax assets were as follows: Year ended December 31, (in thousands) 2019 2018 Deferred tax assets: Net operating loss carryforwards $ 163,832 $ 166,281 Tax credit carryforwards 75,624 70,189 Stock-based compensation 5,710 6,414 Allowance for returns 4,150 3,147 Intangible assets 5,384 4,591 Depreciation and amortization — 609 Accruals and reserves 23,857 20,975 Total deferred tax assets 278,557 272,206 Valuation allowance (277,693 ) (271,374 ) Net deferred tax assets, net of valuation allowance $ 864 $ 832 |
Commitments, contingencies an_2
Commitments, contingencies and guarantees (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Leases [Abstract] | |
Components of Lease Expense [Text Block] | The components of net lease cost, which were recorded in operating expenses, were as follows: Year ended December 31, (in thousands) 2019 (1) 2018 (2) 2017 (2) Operating lease cost $ 17,811 $ 13,649 $ 19,128 Sublease income (656 ) (765 ) (677 ) Net lease cost $ 17,155 $ 12,884 $ 18,451 (1) Operating lease cost includes variable lease costs, which are immaterial. (2) Represents rent expense and sublease income under ASC 840, Leases . |
Schedule of Supplemental Cash Flow Information Related To Leases [Text Block] | Supplemental cash flow information related to leases was as follows: (in thousands) Year ended December 31, 2019 Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases $ 14,015 Right-of-use assets obtained in exchange for new operating lease liabilities 13,287 Supplemental balance sheet information related to leases was as follows: December 31, 2019 Weighted-average remaining lease term (in years) - operating leases 6.44 Weighted-average discount rate - operating leases 6.2% |
Schedule of Maturities of Lease Liabilities [Text Block] | As of December 31, 2019 , maturities of operating lease liabilities under ASC 842, Leases , were as follows: (in thousands) December 31, 2019 2020 $ 13,339 2021 13,651 2022 12,803 2023 12,035 2024 11,897 Thereafter 25,065 Total lease payments 88,790 Less: Imputed interest (16,722 ) Present value of lease liabilities $ 72,068 |
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] | As of December 31, 2018 , future minimum lease payments under ASC 840, Leases, were as follows: (in thousands) December 31, 2018 2019 $ 14,845 2020 17,654 2021 17,763 2022 17,552 2023 17,052 Thereafter 22,951 Total lease payments $ 107,817 |
Other Commitments [Table Text Block] | As of December 31, 2019 , future commitments were as follows: (in thousands) Total 2020 2021 2022 2023 2024 Thereafter Sponsorship commitments $ 3,215 $ 1,682 $ 1,083 $ 450 $ — $ — $ — Other contractual commitments 36,614 22,006 12,867 1,741 — — — Long-term debt (1) 175,000 — — 175,000 — — — Total contractual cash obligations $ 214,829 $ 23,688 $ 13,950 $ 177,191 $ — $ — $ — (1) The Company's convertible senior notes are due April 2022. Refer to Note 4 Financing Arrangements . |
Concentrations of risk and ge_2
Concentrations of risk and geographic information (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Concentration Risk [Line Items] | |
Schedule of Accounts, Notes, Loans and Financing Receivable | The following table summarizes the Company’s accounts receivables sold, without recourse, and factoring fees paid: Year ended December 31, (in thousands) 2019 2018 2017 Accounts receivable sold $ 120,728 $ 126,220 $ 178,300 Factoring fees 1,509 1,639 1,630 |
Schedule of Revenue by Geographic Region | Revenue by geographic region was as follows: Year ended December 31, 2019 vs 2018 2018 vs 2017 (in thousands) 2019 2018 2017 % Change % Change Americas $ 523,975 $ 494,797 $ 582,917 6 % (15 )% Europe, Middle East and Africa (EMEA) 359,187 366,438 333,454 (2 ) 10 Asia and Pacific (APAC) 311,489 287,102 263,370 8 9 Total revenue $ 1,194,651 $ 1,148,337 $ 1,179,741 4 % (3 )% |
Accounts Receivable [Member] | |
Concentration Risk [Line Items] | |
Schedules of Customer Concentration by Risk Factor | Customers who represented 10% or more of the Company’s net accounts receivable balance were as follows: December 31, 2019 December 31, 2018 Customer A 15% * Customer B 11% 11% Customer C * 12% * Less than 10% of net 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: Year ended December 31, 2019 2018 2017 Customer A 11% 13% 15% |
Restructuring charges (Tables)
Restructuring charges (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Restructuring Cost and Reserve [Line Items] | |
Restructuring and Related Costs | Restructuring charges for each period were as follows: Year ended December 31, (in thousands) 2019 2018 2017 Cost of revenue $ 54 $ 1,379 $ 634 Research and development 585 12,794 10,092 Sales and marketing 314 5,291 7,047 General and administrative 501 3,279 2,519 Total restructuring charges $ 1,454 $ 22,743 $ 20,292 |
Schedule of Restructuring Reserve by Type of Cost | The following table provides a summary of the Company’s restructuring activities and the movement in the related liabilities recorded in accrued expenses and other current liabilities on the consolidated balance sheet under the first quarter 2018 restructuring plan. (in thousands) Severance Other Total Restructuring liability as of December 31, 2017 $ — $ — $ — Restructuring charges 14,107 3,686 17,793 Cash paid (12,460 ) (1,988 ) (14,448 ) Non-cash settlements (528 ) (1,299 ) (1,827 ) Restructuring liability as of December 31, 2018 1,119 399 1,518 Restructuring charges — 8 8 Cash paid (1,095 ) (25 ) (1,120 ) Non-cash reductions (24 ) (264 ) (288 ) Restructuring liability as of December 31, 2019 $ — $ 118 $ 118 The following table provides a summary of the Company’s restructuring activities and the movement in the related liabilities recorded in accrued expenses and other current liabilities on the consolidated balance sheet under the fourth quarter 2016 restructuring plan. (in thousands) Severance Other Total Restructuring liability as of December 31, 2016 $ 9,660 $ 879 $ 10,539 Restructuring charges 2,134 1,055 3,189 Cash paid (11,411 ) (1,884 ) (13,295 ) Non-cash settlements 17 — 17 Restructuring liability as of December 31, 2017 400 50 450 Restructuring charges 143 — 143 Cash paid (244 ) — (244 ) Restructuring liability as of December 31, 2018 299 50 349 Restructuring charges 51 — 51 Cash paid (78 ) — (78 ) Non-cash reductions — (50 ) (50 ) Restructuring liability as of December 31, 2019 $ 272 $ — $ 272 The following table provides a summary of the Company’s restructuring activities and the movement in the related liabilities recorded in accrued expenses and other current liabilities, and other long-term liabilities on the consolidated balance sheet under the first quarter 2017 restructuring plan. (in thousands) Severance Other Total Restructuring liability as of December 31, 2016 $ — $ — $ — Restructuring charges (1) 10,312 6,654 16,966 Cash paid (9,509 ) (151 ) (9,660 ) Non-cash reductions (803 ) (2,953 ) (3,756 ) Restructuring liability as of December 31, 2017 — 3,550 3,550 Restructuring charges (1) — 4,783 4,783 Cash paid — (3,293 ) (3,293 ) Non-cash charges — 627 627 Restructuring liability as of December 31, 2018 — 5,667 5,667 Restructuring charges (1) — 1,395 1,395 Cash paid — (2,257 ) (2,257 ) Non-cash reductions — (335 ) (335 ) Restructuring liability as of December 31, 2019 $ — $ 4,470 $ 4,470 (1) Includes lease termination charges, which is included in accrued expenses and other current liabilities, and other long-term liabilities in the accompanying consolidated balance sheets, and totaled $4.5 million as of December 31, 2019. |
Summary of business and signi_4
Summary of business and significant accounting policies (Details) - USD ($) $ in Thousands | 12 Months Ended | ||||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Jan. 01, 2019 | Jan. 01, 2018 | |
Property, Plant and Equipment [Line Items] | |||||
Advertising Expense | $ 67,300 | $ 73,000 | $ 61,300 | ||
Warranty Period | 12 months | ||||
Allowance for Doubtful Accounts Receivable, Current | $ 800 | 500 | |||
Amortization of Long-term Assets | $ 7,500 | 13,500 | $ 19,200 | ||
Document Period End Date | Dec. 31, 2019 | ||||
Accumulated deficit | $ (583,733) | (569,030) | $ (569,091) | ||
Deferred Revenue | 16,600 | 16,100 | |||
Deferred Revenue, Revenue Recognized | 15,000 | 17,300 | |||
Accrued expenses and other current liabilities | $ 141,790 | $ 135,892 | $ 131,560 | ||
Accounting Standards Update 2016-16 [Member] | |||||
Property, Plant and Equipment [Line Items] | |||||
Accumulated deficit | $ 15,000 | ||||
European Union [Member] | |||||
Property, Plant and Equipment [Line Items] | |||||
Warranty Period | 2 years | ||||
Minimum [Member] | |||||
Property, Plant and Equipment [Line Items] | |||||
Long-term Assets, Amortization Period | 24 months | ||||
Property, Plant and Equipment, Useful Life | 1 year | ||||
Maximum [Member] | |||||
Property, Plant and Equipment [Line Items] | |||||
Long-term Assets, Amortization Period | 36 months | ||||
Property, Plant and Equipment, Useful Life | 9 years |
Summary of business and signi_5
Summary of business and significant accounting policies New Accounting Pronouncement (Details) - USD ($) | Dec. 31, 2019 | Jan. 01, 2019 | Dec. 31, 2018 | Jan. 01, 2018 |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||
Operating Lease, Right-of-Use Asset | $ 53,121,000 | $ 60,111,000 | $ 0 | |
Property and equipment, net | 36,539,000 | 46,510,000 | 46,567,000 | |
Accumulated Deficit | (583,733,000) | (569,091,000) | (569,030,000) | |
Accrued liabilities | 141,790,000 | 131,560,000 | 135,892,000 | |
Short-term operating lease liabilities | 9,099,000 | 10,812,000 | 0 | |
Long-term operating lease liabilities | 62,961,000 | 77,545,000 | 0 | |
Other long-term liabilities | $ 6,726,000 | 4,303,000 | $ 28,203,000 | |
Accounting Standards Update 2014-09 [Member] | ||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||
Accumulated Deficit | $ 2,900,000 | |||
Accrued Liabilities | 4,900,000 | |||
Deferred Revenue | 2,000,000 | |||
Accounting Standards Update 2016-02 [Member] | ||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||
Operating Lease, Right-of-Use Asset | 60,111,000 | |||
Property and equipment, net | (57,000) | |||
Accumulated Deficit | (61,000) | |||
Accrued liabilities | (4,332,000) | |||
Short-term operating lease liabilities | 10,812,000 | |||
Long-term operating lease liabilities | 77,545,000 | |||
Other long-term liabilities | $ (23,900,000) | |||
Accounting Standards Update 2016-16 [Member] | ||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||
Accumulated Deficit | $ 15,000,000 |
Fair value measurements (Detail
Fair value measurements (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 | Apr. 12, 2017 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Cash | $ 145,900 | $ 133,600 | |
Marketable securities | 14,847 | 45,417 | |
Level 2 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Fair value of convertible senior notes | 170,000 | ||
Fair Value, Measurements, Recurring [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Cash and Cash Equivalents | 4,413 | 18,478 | |
Marketable securities | 14,847 | 45,417 | |
Fair Value, Measurements, Recurring [Member] | US Treasury Securities [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Marketable securities | 0 | 6,336 | |
Fair Value, Measurements, Recurring [Member] | Commercial Paper [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Marketable securities | 0 | 20,657 | |
Fair Value, Measurements, Recurring [Member] | Corporate Debt Securities [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Marketable securities | 14,847 | 18,424 | |
Fair Value, Measurements, Recurring [Member] | Commercial Paper [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Cash and Cash Equivalents | 0 | 7,577 | |
Fair Value, Measurements, Recurring [Member] | Money Market Funds [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Cash and Cash Equivalents | 4,413 | 10,901 | |
Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Cash and Cash Equivalents | 4,413 | 18,478 | |
Marketable securities | 0 | 20,657 | |
Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | US Treasury 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 | 20,657 | |
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] | Commercial Paper [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Cash and Cash Equivalents | 0 | 7,577 | |
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 and Cash Equivalents | 4,413 | 10,901 | |
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Cash and Cash Equivalents | 0 | 0 | |
Marketable securities | 14,847 | 24,760 | |
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | US Treasury Securities [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Marketable securities | 0 | 6,336 | |
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 | 0 | |
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 | 14,847 | 18,424 | |
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | Commercial Paper [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Cash and Cash Equivalents | 0 | 0 | |
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 and Cash Equivalents | $ 0 | $ 0 | |
Convertible Debt [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Debt Instrument | $ 175,000 |
Condensed consolidated financ_3
Condensed consolidated financial statement details - Cash, Cash Equivalents and Marketable Securities (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Cash and Cash Equivalents [Line Items] | ||||
Marketable securities | $ 14,847 | $ 45,417 | ||
Cash | 145,900 | 133,600 | ||
Cash and cash equivalents | 150,301 | 152,095 | $ 202,504 | $ 192,114 |
Fair Value, Measurements, Recurring [Member] | ||||
Cash and Cash Equivalents [Line Items] | ||||
Marketable securities | $ 14,847 | $ 45,417 |
Condensed consolidated financ_4
Condensed consolidated financial statement details - Inventory (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||
Components | $ 20,370 | $ 19,205 |
Finished goods | 123,866 | 97,253 |
Total inventory | $ 144,236 | $ 116,458 |
Condensed consolidated financ_5
Condensed consolidated financial statement details - Property and Equipment, Net (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Jan. 01, 2019 | |
Property, Plant and Equipment [Line Items] | ||||
Depreciation | $ 18,500 | $ 23,600 | $ 32,400 | |
Gross property and equipment | 155,220 | 169,948 | ||
Less: Accumulated depreciation and amortization | (118,681) | (123,381) | ||
Property and equipment, net | 36,539 | 46,567 | $ 46,510 | |
Leasehold Improvements [Member] | ||||
Property, Plant and Equipment [Line Items] | ||||
Gross property and equipment | 50,736 | 66,198 | ||
Production, engineering and other equipment [Member] | ||||
Property, Plant and Equipment [Line Items] | ||||
Gross property and equipment | 45,649 | 43,019 | ||
Tooling [Member] | ||||
Property, Plant and Equipment [Line Items] | ||||
Gross property and equipment | 19,216 | 17,808 | ||
Computers and software [Member] | ||||
Property, Plant and Equipment [Line Items] | ||||
Gross property and equipment | 21,719 | 20,865 | ||
Furniture and office equipment [Member] | ||||
Property, Plant and Equipment [Line Items] | ||||
Gross property and equipment | 10,846 | 14,969 | ||
Tradeshow Equipment and other [Member] | ||||
Property, Plant and Equipment [Line Items] | ||||
Gross property and equipment | 7,009 | 7,009 | ||
Construction in Progress [Member] | ||||
Property, Plant and Equipment [Line Items] | ||||
Gross property and equipment | $ 45 | $ 80 |
Condensed consolidated financ_6
Condensed consolidated financial statement details - Intangible Assets and Goodwill (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Finite-Lived Intangible Assets, Net [Abstract] | |||
Gross carrying value | $ 50,501 | $ 50,501 | |
Accumulated amortization | (45,269) | (37,451) | |
Net carrying value | 5,232 | 13,050 | |
Intangible Assets, Gross (Excluding Goodwill) | 50,516 | 50,516 | |
Intangible assets, net | 5,247 | 13,065 | |
Indefinite-lived Intangible Assets [Roll Forward] | |||
Amortization of intangible assets | 7,800 | 11,400 | $ 9,000 |
Goodwill | 146,459 | 146,459 | |
Indefinite-Lived Trademarks | $ 15 | $ 15 |
Condensed consolidated financ_7
Condensed consolidated financial statement details - Future Amortization (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||
2020 | $ 4,363 | |
2021 | 869 | |
Net carrying value | $ 5,232 | $ 13,050 |
Condensed consolidated financ_8
Condensed consolidated financial statement details - Goodwill (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Business Combination, Goodwill [Abstract] | ||
Goodwill | $ 146,459 | $ 146,459 |
Condensed consolidated financ_9
Condensed consolidated financial statement details - Other Assets (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018 |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||
POP Displays | $ 7,595 | $ 9,130 |
Long-term deferred tax assets | 864 | 945 |
Deposits and other | 7,002 | 8,120 |
Other long-term assets | $ 15,461 | $ 18,195 |
Condensed consolidated finan_10
Condensed consolidated financial statement details - Accrued Liabilities (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Jan. 01, 2019 | Dec. 31, 2018 |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |||
Employee related liabilities | $ 20,494 | $ 19,775 | |
Accrued sales incentives | 39,120 | 40,918 | |
Other Accounts Payable and Accrued Liabilities | 42,153 | 34,696 | |
Customer Refund Liability, Current | 14,854 | 13,100 | |
Warranty liability | 9,899 | 9,604 | |
Customer deposits | 2,063 | 3,105 | |
Income taxes payable | 1,166 | 1,948 | |
Purchase Commitment, Remaining Minimum Amount Committed | 1,710 | 2,015 | |
Inventory received | 5,737 | 5,061 | |
Other | 4,594 | 5,670 | |
Accrued expenses and other current liabilities | $ 141,790 | $ 131,560 | $ 135,892 |
Condensed consolidated finan_11
Condensed consolidated financial statement details - Product Warranty (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |||
Beginning balances | $ 10,971 | $ 10,373 | $ 11,945 |
Charged to cost of revenue | 16,933 | 24,725 | 20,139 |
Settlements of warranty claims | (16,506) | (24,127) | (21,711) |
Ending balances | 11,398 | 10,971 | $ 10,373 |
Warranty liability | 9,899 | 9,604 | |
Product Warranty Accrual, Noncurrent | $ 1,500 | $ 1,400 |
Financing Arrangements (Details
Financing Arrangements (Details) $ / shares in Units, shares in Millions | Apr. 12, 2017USD ($)$ / sharesshares | Mar. 31, 2016USD ($) | Dec. 31, 2019USD ($)shares | Dec. 31, 2018USD ($)shares | Dec. 31, 2017USD ($)shares |
Line of Credit Facility [Line Items] | |||||
Document Period End Date | Dec. 31, 2019 | ||||
Long-term Debt, Percentage Bearing Fixed Interest, Amount | $ 128,300,000 | ||||
Convertible debt, equity portion | 46,700,000 | ||||
Long-term debt | $ 148,810,000 | $ 138,992,000 | |||
Amortization of Debt Discount (Premium) | $ 8,987,000 | $ 8,112,000 | $ 5,345,000 | ||
Payments for Repurchase of Equity, Prepaid Forward | $ 78,000,000 | ||||
Treasury Shares Acquired, Estimated, Prepaid Forward | shares | 9.2 | 9.2 | 9.2 | 6.6 | |
Revolving Credit Facility [Member] | |||||
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% | ||||
Amount outstanding | $ 0 | $ 0 | |||
Convertible Debt [Member] | |||||
Line of Credit Facility [Line Items] | |||||
Debt Instrument | $ 175,000,000 | ||||
Debt Instrument, Unamortized Discount | 24,300,000 | 33,300,000 | |||
Interest rate | 3.50% | ||||
Debt Instrument, Convertible, Conversion Ratio | 94.0071 | ||||
Convertible Debt Principal Amount Conversion | $ 1,000 | $ 175,000,000 | 175,000,000 | ||
Debt Instrument, Convertible, Conversion Price | $ / shares | $ 10.64 | ||||
Effective rate | 10.50% | ||||
Debt Issuance Costs, Net | $ 5,700,000 | ||||
Percentage of conversion price of notes | 130.00% | ||||
Percentage of trading price of notes | 98.00% | ||||
Long-term debt | $ 148,800,000 | 139,000,000 | |||
Interest Expense, Debt | 6,100,000 | 6,100,000 | $ 4,400,000 | ||
Amortization of Debt Issuance Costs | 800,000 | 800,000 | 600,000 | ||
Amortization of Debt Discount (Premium) | 9,000,000 | 8,100,000 | $ 5,300,000 | ||
Long-term Debt [Member] | Convertible Debt [Member] | |||||
Line of Credit Facility [Line Items] | |||||
Debt Issuance Costs, Gross | 4,200,000 | ||||
Debt Issuance Costs, Net | $ 1,900,000 | $ 2,700,000 | |||
Additional Paid-in Capital [Member] | Convertible Debt [Member] | |||||
Line of Credit Facility [Line Items] | |||||
Debt Issuance Costs, Gross | $ 1,500,000 | ||||
Minimum [Member] | Revolving Credit Facility [Member] | |||||
Line of Credit Facility [Line Items] | |||||
Unused Capacity, Commitment Fee Percentage | 0.25% | ||||
Maximum [Member] | Revolving Credit Facility [Member] | |||||
Line of Credit Facility [Line Items] | |||||
Unused Capacity, Commitment Fee Percentage | 0.375% | ||||
London Interbank Offered Rate (LIBOR) [Member] | Minimum [Member] | Revolving Credit Facility [Member] | |||||
Line of Credit Facility [Line Items] | |||||
Basis Spread on Variable Rate | 1.50% | ||||
London Interbank Offered Rate (LIBOR) [Member] | Maximum [Member] | Revolving Credit Facility [Member] | |||||
Line of Credit Facility [Line Items] | |||||
Basis Spread on Variable Rate | 2.00% | ||||
Base Rate [Member] | Minimum [Member] | Revolving Credit Facility [Member] | |||||
Line of Credit Facility [Line Items] | |||||
Basis Spread on Variable Rate | 0.50% | ||||
Base Rate [Member] | Maximum [Member] | Revolving Credit Facility [Member] | |||||
Line of Credit Facility [Line Items] | |||||
Basis Spread on Variable Rate | 1.00% |
Stockholders' equity (Details)
Stockholders' equity (Details) | 12 Months Ended | |||
Dec. 31, 2019shares | Dec. 31, 2019voteshares | Dec. 31, 2019shares | Dec. 31, 2018shares | |
Class of Stock [Line Items] | ||||
Stock options outstanding (shares) | 3,963,000 | 3,963,000 | 3,963,000 | 5,993,000 |
Common stock available for future grants (shares) | 45,334,000 | 45,334,000 | 45,334,000 | |
Stockholders' Equity Note, Outstanding Shares Less than 10% of Aggregate Shares Outstanding, Conversion Ratio | 1 | |||
Common Class A [Member] | ||||
Class of Stock [Line Items] | ||||
Common stock authorized (shares) | 500,000,000 | 500,000,000 | 500,000,000 | 500,000,000 |
Common stock outstanding (shares) | 117,922,000 | 117,922,000 | 117,922,000 | 105,170,000 |
Common Stock, Voting Rights, Number | 1 | 1 | ||
Common Stock, Conversion Ratio | 1 | 1 | 1 | |
Common Stock, Shares, Issued | 117,922,000 | 117,922,000 | 117,922,000 | 105,170,000 |
Common Class B [Member] | ||||
Class of Stock [Line Items] | ||||
Common stock authorized (shares) | 150,000,000 | 150,000,000 | 150,000,000 | 150,000,000 |
Common stock outstanding (shares) | 28,897,000 | 28,897,000 | 28,897,000 | 35,897,000 |
Common Stock, Voting Rights, Number | 10 | 10 | ||
Common Stock, Shares, Issued | 28,897,000 | 28,897,000 | 28,897,000 | 35,897,000 |
Restricted Stock Units (RSUs) [Member] | ||||
Class of Stock [Line Items] | ||||
Restricted stock units outstanding (shares) | 8,225,000 | 8,225,000 | 8,225,000 | 7,217,000 |
Performance Shares [Member] | ||||
Class of Stock [Line Items] | ||||
Restricted stock units outstanding (shares) | 788,000 | 788,000 | 788,000 | 300,000 |
Restricted Stock and Early-exercised Options [Member] | ||||
Class of Stock [Line Items] | ||||
Common stock available for future grants (shares) | 32,358,000 | 32,358,000 | 32,358,000 |
Employee benefit plans - Narrat
Employee benefit plans - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Defined Contribution Plan, Minimum Annual Contributions Per Employee, Percent | 1.00% | ||
Allocated share-based compensation expense | $ 37,185 | $ 41,854 | $ 54,037 |
ESPP stock issued during period (shares) | 958,000 | 981,000 | 934,000 |
ESPP weighted average purchase price of shares purchased (usd per share) | $ 4.13 | $ 4.78 | $ 8.02 |
Weighted average price of shares granted (usd per share) | $ 5.70 | $ 5.83 | $ 9.40 |
Unearned stock-based compensation, expected recognition period | 2 years 1 month 6 days | ||
Employee Service Share-based Compensation, Tax Benefit from Compensation Expense | $ 0 | $ 0 | $ 0 |
Defined Contribution Plan, Maximum Annual Contributions Per Employee, Percent | 100.00% | ||
Defined Contribution Plan, Employer Matching Contribution, Percent of Match | 100.00% | ||
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay | 4.00% | ||
Defined Benefit Plan, Plan Assets, Contributions by Employer | $ 4,000 | 4,300 | 5,500 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value | $ 34,900 | $ 41,600 | $ 57,700 |
RSUs [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Shares granted (shares) | 6,104,000 | ||
Weighted average price of shares granted (usd per share) | $ 5.70 | ||
Performance Shares [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Shares granted (shares) | 819,000 | ||
Weighted average price of shares granted (usd per share) | $ 7.51 | $ 5.76 | |
Employee Stock Purchase Plan Shares [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Purchase Price of Common Stock, Percent | 85.00% | ||
Stock Options, ESPP and Restricted Stock Units (RSUs) [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Unearned stock-based compensation costs | $ 45,400 | ||
2014 Equity Incentive Plans [Member] | Stock Options [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Expiration Period | 10 years | ||
2014 Equity Incentive Plans [Member] | Performance Shares [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Award Vesting Period | 3 years | ||
2014 Equity Incentive Plans [Member] | Minimum [Member] | Stock Options [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Award Vesting Period | 1 year | ||
2014 Equity Incentive Plans [Member] | Minimum [Member] | RSUs [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Award Vesting Period | 2 years | ||
2014 Equity Incentive Plans [Member] | Maximum [Member] | Stock Options [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Award Vesting Period | 4 years | ||
2014 Equity Incentive Plans [Member] | Maximum [Member] | RSUs [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Award Vesting Period | 4 years |
Employee benefit plans - Stock
Employee benefit plans - Stock Option Activity (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 3.70 | $ 2.95 | $ 4.06 |
Shares (in thousands) | |||
Outstanding at beginning of period (shares) | 5,993 | ||
Granted (shares) | 527 | ||
Exercised (shares) | (2,158) | ||
Forfeited/Cancelled (shares) | (399) | ||
Outstanding at end of period (shares) | 3,963 | 5,993 | |
Weighted-average exercise price | |||
Outstanding at beginning of period (in dollars per share) | $ 7.28 | ||
Granted (usd per share) | 7.42 | ||
Exercised (usd per share) | 0.75 | ||
Outstanding at end of period (in dollars per share) | $ 10.16 | $ 7.28 | |
Weighted Average Remaining Contractual Term (in years) | 6 years 4 months 6 days | 5 years 5 months 8 days | |
Aggregate intrinsic value (in thousands) | $ 374 | $ 7,897 | |
Vested and Expected to Vest (shares) | 3,963 | ||
Vested and Expected to Vest - Weighted Average Exercise Price (in dollars per share) | $ 10.16 | ||
Vested and Expected to Vest- Weighted Average Remaining Contractual Term | 6 years 4 months 6 days | ||
Vested and Expected to Vest - Aggregate Intrinsic Value | $ 374 | ||
Exercisable (shares) | 2,987 | ||
Exercisable - Weighted average exercise price (in dollars per share) | $ 11.25 | ||
Exercisable - Weighted Average Remaining Contractual Term | 5 years 6 months 21 days | ||
Exercisable - Aggregate intrinsic value | $ 370 | ||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Forfeitures in Period, Weighted Average Exercise Price | $ 14.29 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested in Period, Fair Value | $ 3,500 | $ 6,100 | $ 19,500 |
Employee benefit plans - Restri
Employee benefit plans - Restricted Stock Units Activity (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Weighted-average grant date fair value | |||
Weighted average price of shares granted (usd per share) | $ 5.70 | $ 5.83 | $ 9.40 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value | $ 34.9 | $ 41.6 | $ 57.7 |
RSUs [Member] | |||
Shares (in thousands) | |||
Non-vested shares at beginning of period (shares) | 7,217 | ||
Granted (shares) | 6,104 | ||
Vested (shares) | (3,925) | ||
Forfeited (shares) | (1,171) | ||
Non-vested shares at end of period (shares) | 8,225 | 7,217 | |
Weighted-average grant date fair value | |||
Non-vested shares at beginning of period (in dollars per share) | $ 8.15 | ||
Weighted average price of shares granted (usd per share) | 5.70 | ||
Weighted average price of shares vested (usd per share) | 8.90 | ||
Weighted average price of shares forfeited (usd per share) | 7.25 | ||
Non-vested shares at end of period (in dollars per share) | $ 6.11 | $ 8.15 |
Employee benefit plans - Fair V
Employee benefit plans - Fair Value Assumptions for Stock Options (Details) - Employee Stock Option [Member] | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Volatility Rate, Minimum | 50.00% | 44.00% | |
Expected Term | P6Y1M6D | 5.4-6.1 | 5.3-5.8 |
Dividend yield | 0.00% | 0.00% | 0.00% |
Volatility Rate, Maximum | 52.00% | 51.00% | 49.00% |
Interest Rate, Minimum | 1.50% | 2.70% | 1.80% |
Interest Rate, Maximum | 2.20% | 3.00% | 2.10% |
Employee benefit plans - Fair_2
Employee benefit plans - Fair Value Assumptions for Restricted Stock Units and ESPP (Details) - Employee Stock Purchase Plan Shares [Member] | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Volatility Rate, Minimum | 41.00% | 48.00% | 33.00% |
Expected term (years) | 15 days | 15 days | 15 days |
Volatility Rate, Maximum | 54.00% | 53.00% | 36.00% |
Interest Rate, Minimum | 1.90% | 1.80% | 0.70% |
Interest Rate, Maximum | 2.50% | 2.20% | 1.20% |
Employee benefit plans - Alloca
Employee benefit plans - Allocation of Stock-based Compensation Expense (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | |||
Total stock-based compensation expense | $ 37,188 | $ 40,887 | $ 51,255 |
Employee Service Share-based Compensation, Tax Benefit from Compensation Expense | 0 | 0 | 0 |
Cost of Revenue [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | |||
Total stock-based compensation expense | 1,902 | 1,954 | 1,935 |
Research and Development [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | |||
Total stock-based compensation expense | 17,167 | 19,636 | 24,963 |
Selling and Marketing Expense [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | |||
Total stock-based compensation expense | 8,043 | 9,459 | 10,498 |
General and Administrative [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | |||
Total stock-based compensation expense | $ 10,076 | $ 9,838 | $ 13,859 |
Employee benefit plans Performa
Employee benefit plans Performance Stock Units activity (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Weighted average price of shares granted (usd per share) | $ 5.70 | $ 5.83 | $ 9.40 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value | $ 34.9 | $ 41.6 | $ 57.7 |
Performance Shares [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Restricted stock units outstanding (shares) | 788 | 300 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value | $ 7.51 | $ 5.76 | |
Granted (shares) | 819 | ||
Weighted average price of shares granted (usd per share) | $ 7.51 | $ 5.76 | |
Forfeited (shares) | (331) | ||
Weighted average price of shares forfeited (usd per share) | $ 5.93 |
Net loss per share Additional I
Net loss per share Additional Information (Details) $ in Millions | Apr. 12, 2017USD ($)shares | Dec. 31, 2019 | Dec. 31, 2019vote | Dec. 31, 2019shares | Dec. 31, 2018shares | Dec. 31, 2017shares |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||||
Document Period End Date | Dec. 31, 2019 | |||||
Treasury Shares Acquired, Estimated, Prepaid Forward | 9,200,000 | 9,200,000 | 9,200,000 | 6,600,000 | ||
Common Class A [Member] | ||||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||||
Common Stock, Voting Rights, Number | 1 | 1 | ||||
Conversion of Stock, Shares Issued | 1 | |||||
Common Class B [Member] | ||||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||||
Common Stock, Voting Rights, Number | 10 | 10 | ||||
Convertible Debt [Member] | ||||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||||
Debt Instrument | $ | $ 175 | |||||
Interest rate | 3.50% | |||||
Maximum number of shares issuable upon conversion of the notes | 20,600,000 |
Net loss per share - Basic and
Net loss per share - Basic and Diluted Net Income per Share Attributable to Common Stockholders (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Numerator: | |||
Net loss | $ (14,642) | $ (109,034) | $ (182,873) |
Denominator: | |||
Weighted-average common shares—basic for Class A and Class B common stock (shares) | 144,891 | 139,495 | 138,056 |
Earnings Per Share, Basic and Diluted | $ (0.10) | $ (0.78) | $ (1.32) |
Net loss per share - Antidiluti
Net loss per share - Antidilutive Securities Excluded from Computation of Net Income per Share (Details) - shares shares in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Earnings Per Share [Abstract] | |||
Antidilutive securities excluded from computation of earnings per share (shares) | 13,039 | 15,356 | 19,022 |
Income taxes Income Taxes (Deta
Income taxes Income Taxes (Details) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Income Tax Disclosure [Abstract] | |||
Income (Loss) from Continuing Operations before Income Taxes, Domestic | $ (28,233) | $ (110,318) | $ (123,325) |
Income (Loss) from Continuing Operations before Income Taxes, Foreign | 9,163 | 2,643 | (53,062) |
Loss before income taxes | (19,070) | (107,675) | (176,387) |
Income tax (benefit) expense | $ 4,428 | $ (1,359) | $ (6,486) |
Effective Income Tax Rate Reconciliation, Percent | 23.20% | (1.30%) | (3.70%) |
Income taxes - Income Tax Expen
Income taxes - Income Tax Expense (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Income Tax Disclosure [Abstract] | |||
Current Federal Tax Expense (Benefit) | $ (52) | $ (2,821) | $ (1,857) |
Income tax (benefit) expense | $ (4,428) | $ 1,359 | $ 6,486 |
Effective Income Tax Rate Reconciliation, Percent | 23.20% | (1.30%) | (3.70%) |
Current State and Local Tax Expense (Benefit) | $ 48 | $ 175 | $ 240 |
Current Foreign Tax Expense (Benefit) | (4,391) | 4,394 | 10,631 |
Current Income Tax Expense (Benefit) | (4,395) | 1,748 | 9,014 |
Deferred Federal Income Tax Expense (Benefit) | 0 | 248 | (248) |
Deferred Foreign Income Tax Expense (Benefit) | (33) | (637) | (2,280) |
Deferred Income Tax Expense (Benefit) | $ (33) | $ (389) | $ (2,528) |
Income taxes - Reconciliation t
Income taxes - Reconciliation to Federal Statutory Rate (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Amount [Abstract] | |||
Tax at federal statutory rate | $ (4,005) | $ (22,612) | $ (61,735) |
Change in valuation allowance | 4,717 | 42,772 | (36,497) |
DTA rate change impact | 0 | 0 | 73,423 |
Impact of foreign operations | (3,949) | 3,285 | 34,039 |
Stock-based compensation | 1,731 | 10,974 | 12,001 |
State taxes, net of federal benefits | 1,872 | (2,997) | (6,469) |
Tax credits | (5,123) | (5,996) | (9,957) |
Income tax (benefit) expense | (4,428) | 1,359 | 6,486 |
Impact of IRS audit | 0 | (9,687) | 0 |
Other | 24 | 528 | 1,681 |
Permanent tax adjustments | 305 | $ 3,786 | 0 |
Restructuring adjustments | $ 0 | $ 0 | |
Percent [Abstract] | |||
Tax at federal statutory rate | 21.00% | 21.00% | 35.00% |
Change in valuation allowance | (24.70%) | (39.70%) | 20.70% |
DTA rate change impact | 0.00% | 0.00% | (41.60%) |
Impact of foreign operations | 20.70% | (3.10%) | (19.30%) |
Stock-based compensation | (9.10%) | (10.20%) | (6.80%) |
State taxes, net of federal benefits | (9.80%) | 2.80% | 3.70% |
Tax credits | 26.80% | 5.60% | 5.60% |
Income tax provision at effective rate | 23.20% | (1.30%) | (3.70%) |
Impact of IRS audit | 0.00% | 9.00% | 0.00% |
Other | (0.10%) | (0.60%) | (1.00%) |
Permanent Tax adjustment | (1.60%) | (3.50%) | 0.00% |
Restructuring adjustments | 0.00% | 0.00% | |
Effective Income Tax Rate Reconciliation, Restructuring adjustments, Amount | $ (18,694) | ||
Effective Income Tax Rate Reconciliation, Restructuring adjustments, Percent | 17.40% |
Income taxes - Deferred Tax Ass
Income taxes - Deferred Tax Assets (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Income Tax Disclosure [Abstract] | ||
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount | $ 6,300 | |
Deferred tax assets: | ||
Net operating loss carryforwards | 163,832 | $ 166,281 |
Tax credit carryforwards | 75,624 | 70,189 |
Stock-based compensation | 5,710 | 6,414 |
Allowance for returns | 4,150 | 3,147 |
Intangible assets | 5,384 | 4,591 |
Deferred Tax Assets, Property, Plant and Equipment | 0 | 609 |
Accruals and reserves | 23,857 | 20,975 |
Total deferred tax assets | 278,557 | 272,206 |
Valuation allowance | (277,693) | (271,374) |
Total deferred tax assets, net of valuation allowance | $ 864 | $ 832 |
Income taxes - Unrecognized Inc
Income taxes - Unrecognized Income Tax Benefits (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Income Tax Disclosure [Abstract] | |||
Unrecognized Tax Benefits, Increase Resulting from Current Period Tax Positions | $ 250 | $ 483 | $ 20,002 |
Unrecognized Tax Benefits, Decrease Resulting From Tax Rate Change For Current Year Tax Positions | 0 | 0 | (2,299) |
Reconciliation of Unrecognized Tax Benefits | |||
Unrecognized Tax Benefits, beginning balance | 32,556 | 58,584 | 56,909 |
Unrecognized Tax Benefits, ending balance | 27,178 | 32,556 | 58,584 |
Unrecognized Tax Benefits, Increase Resulting from Prior Period Tax Positions | 0 | 445 | 0 |
Unrecognized Tax Benefits, Decrease Resulting from Prior Period Tax Positions | (5,628) | (26,956) | (3,927) |
Unrecognized Tax Benefits, Decrease Resulting From Tax Rate Change For Prior Year Tax Positions | $ 0 | $ 0 | $ (12,101) |
Income taxes - Narrative (Detai
Income taxes - Narrative (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Operating Loss Carryforwards [Line Items] | ||||
Deferred Tax Assets, Net | $ 5,000 | |||
Deferred Tax Assets, Valuation Allowance, Change due to Adoption of New Standard | 1,600 | |||
Deferred Tax Assets, Valuation Allowance, Change due to Other Deferred Movement | 300 | |||
Deferred Tax Assets, Operating Loss Carryforwards, Domestic | 635,200 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities Noncurrent | 8,100 | |||
Deferred Tax Assets, Operating Loss Carryforwards, Not Subject to Expiration | 1,700 | |||
Loss before income taxes | $ (19,070) | $ (107,675) | $ (176,387) | |
Effective Income Tax Rate Reconciliation, Percent | 23.20% | (1.30%) | (3.70%) | |
Unrecognized Tax Benefits, Increase Resulting from Current Period Tax Positions | $ 250 | $ 483 | $ 20,002 | |
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount | 6,300 | |||
Income tax (benefit) expense | $ (4,428) | 1,359 | 6,486 | |
Document Period End Date | Dec. 31, 2019 | |||
Current Foreign Tax Expense (Benefit) | $ (4,391) | 4,394 | 10,631 | |
Unrecognized tax benefits | 27,178 | 32,556 | 58,584 | $ 56,909 |
Unrecognized tax benefits that would impact effective tax rate | 12,500 | $ 17,300 | $ 19,800 | |
Significant Change in Unrecognized Tax Benefits is Reasonably Possible, Amount of Unrecorded Benefit | 13,000 | |||
Domestic Tax Authority [Member] | ||||
Operating Loss Carryforwards [Line Items] | ||||
Tax Credit Carryforward, Amount | 44,000 | |||
State and Local Jurisdiction [Member] | ||||
Operating Loss Carryforwards [Line Items] | ||||
Tax Credit Carryforward, Amount | 40,000 | |||
States Other Than CA [Member] [Domain] | ||||
Operating Loss Carryforwards [Line Items] | ||||
Deferred Tax Assets, Operating Loss Carryforwards, State and Local | 230,500 | |||
CALIFORNIA | ||||
Operating Loss Carryforwards [Line Items] | ||||
Deferred Tax Assets, Operating Loss Carryforwards, State and Local | $ 235,400 |
Commitments, contingencies an_3
Commitments, contingencies and guarantees - Narrative (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Long-term Purchase Commitment [Line Items] | |||
Long-term Debt, Gross | $ 175,000 | ||
Long-term Debt, Maturities, Repayments of Principal in Year Three | 175,000 | ||
Contractual Obligation | 214,829 | ||
Operating Lease, Cost | 17,811 | $ 13,649 | $ 19,128 |
Operating Lease, Payments | $ 14,015 | ||
Document Period End Date | Dec. 31, 2019 | ||
Lessee, Operating Lease, Liability, Payments, Remainder of Fiscal Year | $ 13,339 | ||
Lessee, Operating Lease, Liability, Payments, Due Next Twelve Months | 13,651 | ||
Lessee, Operating Lease, Liability, Payments, Due Year Two | 12,803 | ||
Lessee, Operating Lease, Liability, Payments, Due Year Three | 12,035 | ||
Lessee, Operating Lease, Liability, Payments, Due Year Five | 11,897 | ||
Lessee, Operating Lease, Liability, Payments, Due after Year Five | 25,065 | ||
Operating Leases,Total lease payments | 88,790 | ||
us-gaap_Lessee Operating Lease Liability Undiscounted Excess Amount | 16,722 | ||
Operating Leases, Future Minimum Payments Due, Next Twelve Months | 14,845 | ||
Operating Leases, Future Minimum Payments, Due in Two Years | 17,654 | ||
Operating Leases, Future Minimum Payments, Due in Three Years | 17,763 | ||
Operating Leases, Future Minimum Payments, Due in Four Years | 17,552 | ||
Operating Leases, Future Minimum Payments, Due in Five Years | 17,052 | ||
Operating Leases, Future Minimum Payments, Due Thereafter | 22,951 | ||
Operating Leases, Future Minimum Payments Due | 107,817 | ||
Other Commitment | 36,614 | ||
Other Commitment, Due in Next Twelve Months | 22,006 | ||
Other Commitment, Due in Second Year | 12,867 | ||
Other Commitment, Due in Third Year | 1,741 | ||
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability | $ 13,287 | ||
Operating Lease, Weighted Average Remaining Lease Term | 6 years 5 months 8 days | ||
Operating Lease, Weighted Average Discount Rate, Percent | 6.20% | ||
Operating Lease, Liability | $ 72,068 | ||
Sublease Income | (656) | (765) | (677) |
Lease, Cost | 17,155 | $ 12,884 | $ 18,451 |
Contractual Obligation, Due in Next Fiscal Year | 23,688 | ||
Contractual Obligation, Due in Second Year | 13,950 | ||
Contractual Obligation, Due in Third Year | 177,191 | ||
Contractual Obligation, Due in Fourth Year | 0 | ||
Contractual Obligation, Due in Fifth Year | 0 | ||
Contractual Obligation, Due after Fifth Year | 0 | ||
Sponsorship commitments [Member] [Domain] | |||
Long-term Purchase Commitment [Line Items] | |||
Other Commitment | 3,215 | ||
Other Commitment, Due in Next Twelve Months | 1,682 | ||
Other Commitment, Due in Second Year | 1,083 | ||
Other Commitment, Due in Third Year | $ 450 |
Concentrations of risk and ge_3
Concentrations of risk and geographic information - Narrative (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Revenue, Major Customer [Line Items] | |||
Revenue | $ 1,194,651 | $ 1,148,337 | $ 1,179,741 |
Document Period End Date | Dec. 31, 2019 | ||
United States [Member] | |||
Revenue, Major Customer [Line Items] | |||
Revenue | $ 429,900 | 401,100 | $ 497,000 |
Outside the United States [Member] | |||
Revenue, Major Customer [Line Items] | |||
Long-lived assets | $ 11,000 | $ 15,900 |
Concentrations of risk and ge_4
Concentrations of risk and geographic information - Schedule of Customer Concentration by Risk Factor (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Concentration Risk [Line Items] | |||
Document Period End Date | Dec. 31, 2019 | ||
Accounts receivable sold | $ 120,728 | $ 126,220 | $ 178,300 |
Factoring fees | $ 1,509 | $ 1,639 | $ 1,630 |
Customer Concentration Risk [Member] | Accounts Receivable [Member] | Customer A [Member] | |||
Concentration Risk [Line Items] | |||
Concentration risk | 15.00% | ||
Customer Concentration Risk [Member] | Accounts Receivable [Member] | Customer B [Member] | |||
Concentration Risk [Line Items] | |||
Concentration risk | 11.00% | 11.00% | |
Customer Concentration Risk [Member] | Accounts Receivable [Member] | Customer C [Member] | |||
Concentration Risk [Line Items] | |||
Concentration risk | 12.00% | ||
Customer Concentration Risk [Member] | Sales Revenue [Member] | Customer A [Member] | |||
Concentration Risk [Line Items] | |||
Concentration risk | 11.00% | 13.00% | 15.00% |
Concentrations of risk and ge_5
Concentrations of risk and geographic information - Schedule of Revenue by Geographic Segment (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Segment Reporting Information [Line Items] | |||
Revenue | $ 1,194,651 | $ 1,148,337 | $ 1,179,741 |
United States [Member] | |||
Segment Reporting Information [Line Items] | |||
Revenue | 429,900 | 401,100 | 497,000 |
Americas [Member] | |||
Segment Reporting Information [Line Items] | |||
Revenue | 523,975 | 494,797 | 582,917 |
Europe, Middle East and Africa [Member] | |||
Segment Reporting Information [Line Items] | |||
Revenue | 359,187 | 366,438 | 333,454 |
Asia and Pacific Area Countries [Member] | |||
Segment Reporting Information [Line Items] | |||
Revenue | $ 311,489 | $ 287,102 | $ 263,370 |
Restructuring charges - Restruc
Restructuring charges - Restructuring Costs (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||
Mar. 31, 2018 | Mar. 31, 2017 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Restructuring Cost and Reserve [Line Items] | |||||
Restructuring charges | $ 1,454 | $ 22,743 | $ 20,292 | ||
Cost of Revenue [Member] | |||||
Restructuring Cost and Reserve [Line Items] | |||||
Restructuring charges | 54 | 1,379 | 634 | ||
Research and Development [Member] | |||||
Restructuring Cost and Reserve [Line Items] | |||||
Restructuring charges | 585 | 12,794 | 10,092 | ||
Selling and Marketing Expense [Member] | |||||
Restructuring Cost and Reserve [Line Items] | |||||
Restructuring charges | 314 | 5,291 | 7,047 | ||
General and Administrative [Member] | |||||
Restructuring Cost and Reserve [Line Items] | |||||
Restructuring charges | 501 | 3,279 | 2,519 | ||
First quarter 2018 restructuring [Member] [Domain] | |||||
Restructuring Cost and Reserve [Line Items] | |||||
Restructuring charges | $ 17,800 | ||||
Restructuring charges | 8 | 17,793 | |||
First quarter 2017 restructuring [Member] | |||||
Restructuring Cost and Reserve [Line Items] | |||||
Restructuring charges | $ 23,100 | ||||
Restructuring charges | $ 1,395 | 4,783 | 16,966 | ||
First quarter 2017 restructuring [Member] | Non-cancelable Leases, Accelerated Depreciation and Other Charges [Member] | |||||
Restructuring Cost and Reserve [Line Items] | |||||
Restructuring charges | $ 12,800 | ||||
First quarter 2017 restructuring [Member] | Employee Severance [Member] | |||||
Restructuring Cost and Reserve [Line Items] | |||||
Restructuring charges | 0 | 10,312 | |||
First quarter 2017 restructuring [Member] | Other Restructuring [Member] | |||||
Restructuring Cost and Reserve [Line Items] | |||||
Restructuring charges | $ 4,783 | $ 6,654 |
Restructuring charges (Details)
Restructuring charges (Details) - USD ($) $ in Thousands | Jan. 02, 2018 | Mar. 15, 2017 | Nov. 29, 2016 | Mar. 31, 2018 | Mar. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Restructuring Cost and Reserve [Line Items] | |||||||||
Restructuring charges | $ 1,454 | $ 22,743 | $ 20,292 | ||||||
First quarter 2018 restructuring [Member] [Domain] | |||||||||
Restructuring Cost and Reserve [Line Items] | |||||||||
Expected percent of positions eliminated | 18.00% | ||||||||
Restructuring charges | $ 17,800 | ||||||||
Other Restructuring Costs | 3,700 | 8 | 3,686 | ||||||
First quarter 2018 restructuring [Member] [Domain] | Employee Severance and Pay Related Costs [Member] | |||||||||
Restructuring Cost and Reserve [Line Items] | |||||||||
Severance Costs | $ 14,100 | 0 | $ 14,107 | ||||||
First quarter 2017 restructuring [Member] | |||||||||
Restructuring Cost and Reserve [Line Items] | |||||||||
Expected percent of positions eliminated | 17.00% | ||||||||
Restructuring charges | $ 23,100 | ||||||||
Other Restructuring Costs | 1,395 | ||||||||
First quarter 2017 restructuring [Member] | Non-cancelable Leases, Accelerated Depreciation and Other Charges [Member] | |||||||||
Restructuring Cost and Reserve [Line Items] | |||||||||
Restructuring charges | 12,800 | ||||||||
First quarter 2017 restructuring [Member] | Employee Severance and Pay Related Costs [Member] | |||||||||
Restructuring Cost and Reserve [Line Items] | |||||||||
Severance Costs | $ 10,300 | 0 | |||||||
Fourth quarter 2016 restructuring [Member] | |||||||||
Restructuring Cost and Reserve [Line Items] | |||||||||
Expected percent of positions eliminated | 15.00% | ||||||||
Restructuring charges | $ 40,000 | ||||||||
Other Restructuring Costs | $ 0 | ||||||||
Fourth quarter 2016 restructuring [Member] | Non-cancelable Leases, Accelerated Depreciation and Other Charges [Member] | |||||||||
Restructuring Cost and Reserve [Line Items] | |||||||||
Restructuring charges | 3,200 | ||||||||
Fourth quarter 2016 restructuring [Member] | Employee Severance and Pay Related Costs [Member] | |||||||||
Restructuring Cost and Reserve [Line Items] | |||||||||
Severance Costs | $ 36,800 |
Restructuring charges - Restr_2
Restructuring charges - Restructuring Liability (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||||
Mar. 31, 2018 | Mar. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Restructuring Reserve [Roll Forward] | ||||||
Non-cash settlements | $ (6,282) | |||||
First quarter 2017 restructuring [Member] | ||||||
Restructuring Cost and Reserve [Line Items] | ||||||
Other Restructuring Costs | $ 1,395 | |||||
Restructuring Reserve [Roll Forward] | ||||||
Restructuring liability as of October 1, 2016 | $ 3,550 | $ 0 | 5,667 | 3,550 | $ 0 | |
Restructuring charges | 1,395 | 4,783 | 16,966 | |||
Cash paid | (2,257) | (3,293) | (9,660) | |||
Non-cash settlements | (335) | (627) | (3,756) | |||
Restructuring liability as of December 31, 2017 | $ 0 | 4,470 | 5,667 | 3,550 | ||
First quarter 2017 restructuring [Member] | Employee Severance [Member] | ||||||
Restructuring Cost and Reserve [Line Items] | ||||||
Severance Costs | 10,300 | 0 | ||||
Restructuring Reserve [Roll Forward] | ||||||
Restructuring liability as of October 1, 2016 | 0 | 0 | 0 | 0 | 0 | |
Restructuring charges | 0 | 10,312 | ||||
Cash paid | 0 | 0 | (9,509) | |||
Non-cash settlements | 0 | 0 | (803) | |||
Restructuring liability as of December 31, 2017 | 0 | 0 | 0 | 0 | ||
First quarter 2017 restructuring [Member] | Other Restructuring [Member] | ||||||
Restructuring Reserve [Roll Forward] | ||||||
Restructuring liability as of October 1, 2016 | 3,550 | 0 | 5,667 | 3,550 | 0 | |
Restructuring charges | 4,783 | 6,654 | ||||
Cash paid | (2,257) | (3,293) | (151) | |||
Non-cash settlements | (335) | (627) | (2,953) | |||
Restructuring liability as of December 31, 2017 | 0 | 4,470 | 5,667 | 3,550 | ||
Fourth quarter 2016 restructuring [Member] | ||||||
Restructuring Cost and Reserve [Line Items] | ||||||
Other Restructuring Costs | 0 | |||||
Restructuring Reserve [Roll Forward] | ||||||
Restructuring liability as of October 1, 2016 | 450 | 10,539 | 349 | 450 | 10,539 | |
Restructuring charges | 51 | 143 | 3,189 | |||
Cash paid | (78) | (244) | (13,295) | |||
Non-cash settlements | (50) | (17) | ||||
Restructuring liability as of December 31, 2017 | 10,539 | 272 | 349 | 450 | ||
Fourth quarter 2016 restructuring [Member] | Employee Severance [Member] | ||||||
Restructuring Cost and Reserve [Line Items] | ||||||
Severance Costs | 36,800 | |||||
Restructuring Reserve [Roll Forward] | ||||||
Restructuring liability as of October 1, 2016 | 400 | 9,660 | 299 | 400 | 9,660 | |
Restructuring charges | 51 | 143 | 2,134 | |||
Cash paid | (78) | (244) | (11,411) | |||
Non-cash settlements | 0 | (17) | ||||
Restructuring liability as of December 31, 2017 | 9,660 | 272 | 299 | 400 | ||
Fourth quarter 2016 restructuring [Member] | Other Restructuring [Member] | ||||||
Restructuring Reserve [Roll Forward] | ||||||
Restructuring liability as of October 1, 2016 | 50 | $ 879 | 50 | 50 | 879 | |
Restructuring charges | 0 | 1,055 | ||||
Cash paid | 0 | 0 | (1,884) | |||
Non-cash settlements | (50) | 0 | ||||
Restructuring liability as of December 31, 2017 | $ 879 | 0 | 50 | 50 | ||
First quarter 2018 restructuring [Member] [Domain] | ||||||
Restructuring Cost and Reserve [Line Items] | ||||||
Other Restructuring Costs | 3,700 | 8 | 3,686 | |||
Restructuring Reserve [Roll Forward] | ||||||
Restructuring liability as of October 1, 2016 | 0 | 1,518 | 0 | |||
Restructuring charges | 8 | 17,793 | ||||
Cash paid | (1,120) | (14,448) | ||||
Non-cash settlements | (288) | (1,827) | ||||
Restructuring liability as of December 31, 2017 | 118 | 1,518 | 0 | |||
First quarter 2018 restructuring [Member] [Domain] | Employee Severance [Member] | ||||||
Restructuring Cost and Reserve [Line Items] | ||||||
Severance Costs | 14,100 | 0 | 14,107 | |||
Restructuring Reserve [Roll Forward] | ||||||
Restructuring liability as of October 1, 2016 | 0 | 1,119 | 0 | |||
Cash paid | (1,095) | (12,460) | ||||
Non-cash settlements | (24) | (528) | ||||
Restructuring liability as of December 31, 2017 | 0 | 1,119 | 0 | |||
First quarter 2018 restructuring [Member] [Domain] | Other Restructuring [Member] | ||||||
Restructuring Reserve [Roll Forward] | ||||||
Restructuring liability as of October 1, 2016 | $ 0 | 399 | 0 | |||
Cash paid | (25) | (1,988) | ||||
Non-cash settlements | (264) | (1,299) | ||||
Restructuring liability as of December 31, 2017 | $ 118 | $ 399 | $ 0 |
Valuation and Qualifying Acco_2
Valuation and Qualifying Accounts (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward] | ||||
Balance at End of Year | $ 800 | $ 500 | ||
Allowance for Doubtful Accounts Receivable [Member] | ||||
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items] | ||||
SEC Schedule, 12-09, Valuation Allowances and Reserves, Amount | 830 | 500 | $ 750 | $ 1,281 |
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward] | ||||
Charges to Expense | (616) | (199) | (263) | |
SEC Schedule, 12-09, Valuation Allowances and Reserves, Deduction | (286) | (449) | (268) | |
SEC Schedule, 12-09, Valuation Allowance, Deferred Tax Asset [Member] | ||||
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items] | ||||
SEC Schedule, 12-09, Valuation Allowances and Reserves, Amount | 277,693 | 271,374 | 226,458 | $ 110,433 |
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward] | ||||
Charges to Revenue | 1,602 | 2,144 | 152,522 | |
Charges to Expense | $ (4,717) | $ (42,772) | $ (36,497) |