Document, Entity and Informatio
Document, Entity and Information - shares | 6 Months Ended | |
Jun. 30, 2020 | Aug. 03, 2020 | |
Class of Stock [Line Items] | ||
Entity Incorporation, State or Country Code | DE | |
Entity Tax Identification Number | 77-0629474 | |
Entity Address, Address Line One | 3025 Clearview Way | |
Entity Address, City or Town | San Mateo, | |
Entity Address, State or Province | CA | |
Entity Address, Postal Zip Code | 94402 | |
Title of 12(b) Security | Class A common stock, $0.001 par value | |
Trading Symbol | GPRO | |
Entity Registrant Name | GOPRO, INC. | |
City Area Code | (650) | |
Local Phone Number | 332-7600 | |
Entity Central Index Key | 0001500435 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Large Accelerated Filer | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Jun. 30, 2020 | |
Document Transition Report | false | |
Entity File Number | 001-36514 | |
Document Fiscal Year Focus | 2020 | |
Document Fiscal Period Focus | Q2 | |
Amendment Flag | false | |
Entity Emerging Growth Company | false | |
Entity Small Business | false | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Shell Company | false | |
Security Exchange Name | NASDAQ | |
Common Class A [Member] | ||
Class of Stock [Line Items] | ||
Entity Common Stock, Shares Outstanding | 128,941,269 | |
Common Class B [Member] | ||
Class of Stock [Line Items] | ||
Entity Common Stock, Shares Outstanding | 28,887,185 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets - USD ($) | Jun. 30, 2020 | Dec. 31, 2019 |
Current assets: | ||
Cash and cash equivalents | $ 79,679,000 | $ 150,301,000 |
Marketable securities | 0 | 14,847,000 |
Accounts receivable, net | 68,498,000 | 200,634,000 |
Inventory | 142,151,000 | 144,236,000 |
Prepaid expenses and other current assets | 23,773,000 | 25,958,000 |
Total current assets | 314,101,000 | 535,976,000 |
Property and equipment, net | 29,180,000 | 36,539,000 |
Operating Lease, Right-of-Use Asset | 48,963,000 | 53,121,000 |
Intangible assets, net | 2,901,000 | 5,247,000 |
Goodwill | 146,459,000 | 146,459,000 |
Other long-term assets | 13,564,000 | 15,461,000 |
Total assets | 555,168,000 | 792,803,000 |
Current liabilities: | ||
Accounts payable | 48,959,000 | 160,695,000 |
Accrued expenses and other current liabilities | 88,605,000 | 141,790,000 |
Short-term operating lease liabilities | 8,936,000 | 9,099,000 |
Deferred revenue | 13,627,000 | 15,467,000 |
Short-term Bank Loans and Notes Payable | 30,000,000 | 0 |
Total current liabilities | 190,127,000 | 327,051,000 |
Long-term taxes payable | 15,408,000 | 13,726,000 |
Long-term debt | 154,063,000 | 148,810,000 |
Long-term operating lease liabilities | 57,916,000 | 62,961,000 |
Other long-term liabilities | 5,576,000 | 6,726,000 |
Total liabilities | 423,090,000 | 559,274,000 |
Commitments, contingencies and guarantees | ||
Stockholders’ equity: | ||
Preferred Stock, Value, Outstanding | 0 | 0 |
Common Stocks, Including Additional Paid in Capital | 943,927,000 | 930,875,000 |
Treasury Stock, Value | (113,613,000) | (113,613,000) |
Accumulated deficit | (698,236,000) | (583,733,000) |
Total stockholders’ equity | 132,078,000 | 233,529,000 |
Total liabilities and stockholders’ equity | $ 555,168,000 | $ 792,803,000 |
Preferred Stock, par value (usd per share) | $ 0.0001 | $ 0.0001 |
Preferred Stock, Shares Authorized (shares) | 5,000 | 5,000 |
Preferred Stock, par value (usd per share) | $ 0.0001 | $ 0.0001 |
Preferred Stock, Shares Authorized (shares) | 5,000 | 5,000 |
Common stock, par value (in dollars per share) | $ 0.0001 | $ 0.0001 |
Treasury Stock, Value | $ 113,613,000 | $ 113,613,000 |
Common Stocks, Including Additional Paid in Capital | 943,927,000 | 930,875,000 |
Preferred Stock, Value, Outstanding | $ 0 | $ 0 |
Treasury Stock, Shares (shares) | 10,710 | 10,710 |
Common stock, par value (in dollars per share) | $ 0.0001 | $ 0.0001 |
Treasury Stock, Shares (shares) | 10,710 | 10,710 |
Common Class A [Member] | ||
Common stock outstanding (shares) | 119,751 | 117,922 |
Common Stock, Shares Authorized (shares) | 500,000 | 500,000 |
Common Stock, Shares, Issued | 119,751 | 117,922 |
Common Stock, Shares Authorized (shares) | 500,000 | 500,000 |
Common Stock, Shares, Issued | 119,751 | 117,922 |
Common Class B [Member] | ||
Common stock outstanding (shares) | 28,887 | 28,897 |
Common Stock, Shares Authorized (shares) | 150,000 | 150,000 |
Common Stock, Shares, Issued | 28,887 | 28,897 |
Common Stock, Shares Authorized (shares) | 150,000 | 150,000 |
Common Stock, Shares, Issued | 28,887 | 28,897 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares | Jun. 30, 2020 | Dec. 31, 2019 |
Preferred Stock, par value (usd per share) | $ 0.0001 | $ 0.0001 |
Preferred Stock, Shares Authorized (shares) | 5,000 | 5,000 |
Common stock, par value (in dollars per share) | $ 0.0001 | $ 0.0001 |
Treasury Stock, Shares (shares) | 10,710 | 10,710 |
Common Class A [Member] | ||
Common Stock, Shares Authorized (shares) | 500,000 | 500,000 |
Common Stock, Shares, Issued | 119,751 | 117,922 |
Common stock outstanding (shares) | 119,751 | 117,922 |
Common Class B [Member] | ||
Common Stock, Shares Authorized (shares) | 150,000 | 150,000 |
Common Stock, Shares, Issued | 28,887 | 28,897 |
Common stock outstanding (shares) | 28,887 | 28,897 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Income Statement [Abstract] | ||||
Revenue | $ 134,246 | $ 292,429 | $ 253,646 | $ 535,137 |
Cost of revenue | 93,554 | 190,244 | 174,527 | 352,605 |
Gross profit | 40,692 | 102,185 | 79,119 | 182,532 |
Operating expenses: | ||||
Research and development | 34,558 | 38,811 | 66,839 | 76,275 |
Sales and marketing | 34,965 | 52,135 | 78,467 | 99,425 |
General and administrative | 16,083 | 18,186 | 34,841 | 34,067 |
Total operating expenses | 85,606 | 109,132 | 180,147 | 209,767 |
Operating loss | (44,914) | (6,947) | (101,028) | (27,235) |
Interest expense | (4,671) | (4,882) | (9,514) | (9,409) |
Other Nonoperating Expense | (321) | (63) | (493) | |
Other income (expense), net | 765 | |||
Total other expense, net | (4,992) | (4,945) | (10,007) | (8,644) |
Loss before income taxes | (49,906) | (11,892) | (111,035) | (35,879) |
Income tax expense (benefit) | (1,069) | 605 | (3,468) | 227 |
Net loss | $ (50,975) | $ (11,287) | $ (114,503) | $ (35,652) |
Earnings Per Share, Basic and Diluted | $ (0.34) | $ (0.08) | $ (0.77) | $ (0.25) |
Weighted Average Number of Shares Outstanding, Basic and Diluted | 148,497 | 144,668 | 148,028 | 143,640 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2020 | Jun. 30, 2019 | |
Net loss | $ (114,503) | $ (35,652) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Depreciation and amortization | 10,693 | 13,402 |
Amortization of Leased Asset | 4,158 | 5,389 |
Stock-based compensation | 13,513 | 20,391 |
Deferred income taxes | 53 | (97) |
Restructuring Costs | 3,299 | 199 |
Amortization of Debt Discount (Premium) | 4,850 | 4,378 |
Other | 1,199 | 229 |
Changes in operating assets and liabilities: | ||
Accounts receivable, net | 131,889 | (15,482) |
Inventory | 2,085 | (12,712) |
Prepaid expenses and other assets | 3,137 | 5,208 |
Accounts payable and other liabilities | (169,944) | (49,242) |
Deferred revenue | (2,457) | (1,633) |
Net Cash Provided by (Used in) Operating Activities | (112,028) | (66,020) |
Investing activities: | ||
Purchases of property and equipment, net | (2,163) | (1,999) |
Purchases of marketable securities | 0 | (30,167) |
Maturities of marketable securities | 14,830 | 35,278 |
Sale of marketable securities | 0 | 1,889 |
Payments for (Proceeds from) Other Investing Activities | 438 | 0 |
Net cash provided by investing activities | 12,229 | 5,001 |
Financing activities: | ||
Proceeds from issuance of common stock | 1,909 | 3,877 |
Payment, Tax Withholding, Share-based Payment Arrangement | (2,354) | (3,997) |
Net cash provided by (used in) financing activities | 29,555 | (120) |
Proceeds from Bank Debt | 30,000 | 0 |
Effect of exchange rate changes on cash and cash equivalents | (378) | 294 |
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | (70,622) | (60,845) |
Cash and cash equivalents at beginning of period | 150,301 | 152,095 |
Cash and cash equivalents at end of period | $ 79,679 | $ 91,250 |
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, 2018 | $ 212,112 | $ 894,755 | $ (113,613) | $ (569,030) |
Beginning Balance (shares) at Dec. 31, 2018 | 141,067 | |||
Common stock issued under employee benefit plans, net of shares withheld for tax | 3,761 | $ 3,761 | ||
Share-based Payment Arrangement, Decrease for Tax Withholding Obligation | (2,673) | $ 2,673 | ||
Common stock issued under employee benefit plans, net of shares withheld for tax (shares) | 3,293 | |||
Allocated share-based compensation expense | 9,782 | $ 9,782 | ||
Net loss | (24,365) | (24,365) | ||
Ending Balance at Mar. 31, 2019 | 198,556 | $ 905,625 | (113,613) | (593,456) |
Ending Balance (shares) at Mar. 31, 2019 | 144,360 | |||
Beginning Balance at Dec. 31, 2018 | 212,112 | $ 894,755 | (113,613) | (569,030) |
Beginning Balance (shares) at Dec. 31, 2018 | 141,067 | |||
Net loss | (35,652) | |||
Ending Balance at Jun. 30, 2019 | 196,695 | $ 915,051 | (113,613) | (604,743) |
Ending Balance (shares) at Jun. 30, 2019 | 144,888 | |||
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets | (61) | |||
Beginning Balance at Mar. 31, 2019 | 198,556 | $ 905,625 | (113,613) | (593,456) |
Beginning Balance (shares) at Mar. 31, 2019 | 144,360 | |||
Common stock issued under employee benefit plans, net of shares withheld for tax | 144 | $ 144 | ||
Share-based Payment Arrangement, Decrease for Tax Withholding Obligation | (1,324) | $ 1,324 | ||
Common stock issued under employee benefit plans, net of shares withheld for tax (shares) | 528 | |||
Allocated share-based compensation expense | 10,606 | $ 10,606 | ||
Net loss | (11,287) | (11,287) | ||
Ending Balance at Jun. 30, 2019 | 196,695 | $ 915,051 | (113,613) | (604,743) |
Ending Balance (shares) at Jun. 30, 2019 | 144,888 | |||
Beginning Balance at Dec. 31, 2019 | 233,529 | $ 930,875 | (113,613) | (583,733) |
Beginning Balance (shares) at Dec. 31, 2019 | 146,818 | |||
Common stock issued under employee benefit plans, net of shares withheld for tax | 1,863 | $ 1,863 | ||
Share-based Payment Arrangement, Decrease for Tax Withholding Obligation | (2,003) | $ 2,003 | ||
Common stock issued under employee benefit plans, net of shares withheld for tax (shares) | 1,542 | |||
Allocated share-based compensation expense | 7,637 | $ 7,637 | ||
Net loss | (63,528) | (63,528) | ||
Ending Balance at Mar. 31, 2020 | 177,498 | $ 938,372 | (113,613) | (647,261) |
Ending Balance (shares) at Mar. 31, 2020 | 148,360 | |||
Beginning Balance at Dec. 31, 2019 | 233,529 | $ 930,875 | (113,613) | (583,733) |
Beginning Balance (shares) at Dec. 31, 2019 | 146,818 | |||
Net loss | (114,503) | |||
Ending Balance at Jun. 30, 2020 | 132,078 | $ 943,927 | (113,613) | (698,236) |
Ending Balance (shares) at Jun. 30, 2020 | 148,638 | |||
Beginning Balance at Mar. 31, 2020 | 177,498 | $ 938,372 | (113,613) | (647,261) |
Beginning Balance (shares) at Mar. 31, 2020 | 148,360 | |||
Common stock issued under employee benefit plans, net of shares withheld for tax | 30 | $ 30 | ||
Share-based Payment Arrangement, Decrease for Tax Withholding Obligation | (351) | $ 351 | ||
Common stock issued under employee benefit plans, net of shares withheld for tax (shares) | 278 | |||
Allocated share-based compensation expense | 5,876 | $ 5,876 | ||
Net loss | (50,975) | (50,975) | ||
Ending Balance at Jun. 30, 2020 | $ 132,078 | $ 943,927 | $ (113,613) | $ (698,236) |
Ending Balance (shares) at Jun. 30, 2020 | 148,638 |
Condensed consolidated financia
Condensed consolidated financial statement details - Goodwill (Details) - USD ($) $ in Thousands | Jun. 30, 2020 | Dec. 31, 2019 |
Business Combination, Goodwill [Abstract] | ||
Goodwill | $ 146,459 | $ 146,459 |
Accounting Policies
Accounting Policies | 6 Months Ended |
Jun. 30, 2020 | |
Accounting Policies [Abstract] | |
Summary of significant accounting policies | 1. Summary of business and significant accounting policies GoPro, Inc. and its subsidiaries (GoPro or the Company) help its consumers celebrate 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 on its website, and through retailers and wholesale distributors. The Company’s global corporate headquarters are located in San Mateo, California. Basis of presentation. The accompanying unaudited condensed 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. The Company’s operating results, financial position and cash flows were negatively impacted by the COVID-19 pandemic and as a result, the Company accelerated a shift in its sales channel strategy to focus more on direct-to-consumer sales through gopro.com, and implemented a restructuring plan in April 2020, which primarily impacted the Company’s global workforce, sales and marketing expenses, and leased facilities. These actions impacted the Company’s financial results in the second quarter of 2020 by reducing on-going operating expenses and to help accelerate its ability to achieve profitability, thus providing sufficient resources to continue as a going concern for at least one year from the date of issuance of the condensed consolidated financial statements contained in this Quarterly Report on Form 10-Q. The condensed consolidated financial statements reflect all adjustments, which are normal and recurring in nature, that management believes are necessary for the fair statement of the Company's financial statements, but are not necessarily indicative of the results expected for the full fiscal year or any other future period. The condensed consolidated balance sheet at December 31, 2019 has been derived from the audited financial statements at that date, but does not include all the disclosures required by GAAP. This Quarterly Report on Form 10-Q should be read in conjunction with the Company's Annual Report on Form 10-K (Annual Report) for the year ended December 31, 2019. There have been no material changes in the Company’s critical accounting policies and estimates from those disclosed in its Annual Report. Principles of consolidation. These condensed consolidated financial statements include all the accounts of the Company and its wholly owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. Use of estimates. The preparation of condensed 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 condensed 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), inventory valuation, product warranty liabilities, the valuation, impairment and useful lives of long-lived assets (property and equipment, operating leases, intangible assets and goodwill), income taxes and going concern. The Company bases its estimates and assumptions on historical experience and on various other factors that it believes to be reasonable under the circumstances, including but not limited to the potential impacts arising from the COVID-19 pandemic, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. The extent and continued impact of COVID-19 has been taken into account in making the significant assumptions and estimates related to the above, however if the duration and spread of the outbreak, the impact on our customers, and the effect on our contract manufacturers, vendors and supply chains is different from the Company’s estimates and assumptions, then actual results could differ materially. Given the uncertainty with respect to COVID-19, the Company’s estimates and assumptions may evolve as conditions change. To the extent there are material differences between the estimates and the actual results, future results of operations could be affected. Comprehensive income (loss). For all periods presented, comprehensive income (loss) approximated net income (loss). Therefore, the condensed consolidated statements of comprehensive income (loss) have been omitted. Leases. The Company leases its office space and facilities under cancelable and non-cancelable operating leases. Operating leases are presented as operating lease right-of-use (ROU) assets, short-term operating lease liabilities and long-term operating lease liabilities on the Company’s condensed 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. 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. 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 June 30, 2020 and December 31, 2019 also included immaterial amounts related to the Company’s subscription services. The Company’s short-term and long-term deferred revenue balances totaled $14.1 million and $16.6 million as of June 30, 2020 and December 31, 2019, respectively. During the three months ended June 30, 2020 and 2019, revenue of $5.5 million and $5.3 million, respectively, was recognized that was included in the deferred revenue balances at the beginning of each period. During the six months ended June 30, 2020 and 2019, revenue of $9.8 million and $9.7 million, respectively, was recognized that was included in the deferred revenue balances at the beginning of each period. 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 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 condensed consolidated financial statements or other significant matters Standards that were adopted Intangible - Goodwill and Other ASU No. 2017-04 (Topic 350) This standard simplifies the accounting for goodwill and removes Step 2 of the annual goodwill impairment test. Upon adoption, goodwill impairment is determined based on the amount by which a reporting unit’s carrying value exceeds its fair value, not to exceed the carrying amount of goodwill. The standard is applied on a prospective transition method. January 1, 2020 The adoption of this standard did not impact the Company’s condensed consolidated financial statements and related disclosures. Financial Instruments - Credit Losses: Measurement of Credit Losses on Financial Instruments ASU No. 2016-13 (Topic 326) The standard changes the impairment model for most financial assets and replaces the existing incurred loss model with a current expected credit loss (CECL) model. The standard is applied on a modified retrospective approach. January 1, 2020 The Company’s allowance for doubtful accounts and valuation of available-for-sale securities are subject to this standard. The Company concluded the adoption of this standard did not have a material impact on its condensed 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 condensed consolidated financial statements. |
Revenue from Contract with Customer | 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. 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 June 30, 2020 and December 31, 2019 also included immaterial amounts related to the |
Fair value measurements
Fair value measurements | 6 Months Ended |
Jun. 30, 2020 | |
Fair Value Disclosures [Abstract] | |
Fair Value measurements | Fair value measurements The Company’s assets that are measured at fair value on a recurring basis within the fair value hierarchy are summarized as follows: June 30, 2020 December 31, 2019 (in thousands) Level 1 Level 2 Total Level 1 Level 2 Total Cash equivalents (1) : Money market funds $ 19,442 $ — $ 19,442 $ 4,413 $ — $ 4,413 Total cash equivalents $ 19,442 $ — $ 19,442 $ 4,413 $ — $ 4,413 Marketable securities: Corporate debt securities $ — $ — $ — $ — $ 14,847 $ 14,847 Total marketable securities $ — $ — $ — $ — $ 14,847 $ 14,847 (1) Included in cash and cash equivalents in the accompanying condensed consolidated balance sheets. Cash balances were $60.2 million and $145.9 million as of June 30, 2020 and December 31, 2019, 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 were all less than one year in duration. At June 30, 2020 and December 31, 2019, 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 June 30, 2020 and December 31, 2019, 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 was $154.0 million as of June 30, 2020, and 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. |
Employee benefit plans
Employee benefit plans | 6 Months Ended |
Jun. 30, 2020 | |
Share-based Payment Arrangement [Abstract] | |
Employee benefit plans | Employee benefit plans Equity incentive plans . The Company has outstanding equity grants from its three stock-based employee compensation plans: the 2014 Equity Incentive Plan (2014 Plan), the 2010 Equity Incentive Plan (2010 Plan) and the 2014 Employee Stock Purchase Plan (ESPP). No new options or awards have been granted under the 2010 Plan since June 2014. Outstanding options and awards under the 2010 Plan continue to be subject to the terms and conditions of the 2010 Plan. Options granted under the 2014 Plan generally expire within ten years from the date of grant and generally vest over one two S tock options A summary of the Company’s stock option activity for the six months ended June 30, 2020 is as follows: Shares (in thousands) Weighted-average exercise price Weighted-average remaining contractual term (in years) Aggregate intrinsic value (in thousands) Outstanding at December 31, 2019 3,963 $ 10.16 6.35 $ 374 Granted 1,006 3.99 Exercised (25) 1.13 Forfeited/Cancelled (773) 9.88 Outstanding at June 30, 2020 4,171 $ 8.78 6.59 $ 1,064 Vested and expected to vest at June 30, 2020 4,171 $ 8.78 6.59 $ 1,064 Exercisable at June 30, 2020 2,676 $ 10.93 5.12 $ 324 The aggregate intrinsic value of the stock options outstanding as of June 30, 2020 represents the value of the Company’s closing stock price on June 30, 2020 in excess of the exercise price multiplied by the number of options outstanding. Restricted stock units A summary of the Company’s RSU activity for the six months ended June 30, 2020 is as follows: Shares (in thousands) Weighted-average grant date fair value Non-vested shares at December 31, 2019 8,225 $ 6.11 Granted 5,604 4.09 Vested (1,649) 6.78 Forfeited (1,823) 5.50 Non-vested shares at June 30, 2020 10,357 $ 5.02 Performance stock units A summary of the Company’s PSU activity for the six months ended June 30, 2020 is as follows: Shares (in thousands) Weighted-average grant date fair value Non-vested shares at December 31, 2019 788 $ 7.51 Granted 1,221 4.04 Vested (179) 7.51 Forfeited (205) 7.02 Non-vested shares at June 30, 2020 1,625 $ 4.97 Employee stock purchase plan. For the six months ended June 30, 2020 and 2019, the Company issued 556,000 and 458,000 shares under its ESPP, respectively, at weighted-average prices of $3.38 and $4.96, respectively. Stock-based compensation expense. The Company measures compensation expense for all stock-based payment awards based on the estimated fair values on the date of the grant. The fair value of stock options granted and ESPP issuance is estimated using the Black-Scholes option pricing model. The fair value of RSUs and PSUs are determined using the Company’s closing stock price on the date of grant. There have been no significant changes in the Company’s valuation assumptions from those disclosed in its 2019 Annual Report. The following table summarizes stock-based compensation expense included in the condensed consolidated statements of operations: Three months ended June 30, Six months ended June 30, (in thousands) 2020 2019 2020 2019 Cost of revenue $ 332 $ 522 $ 835 $ 1,035 Research and development 3,063 4,884 6,085 9,561 Sales and marketing 789 2,221 2,506 4,434 General and administrative 1,692 2,979 4,087 5,361 Total stock-based compensation expense $ 5,876 $ 10,606 $ 13,513 $ 20,391 The income tax benefit related to stock-based compensation expense was zero for the three and six months ended June 30, 2020 and 2019 due to a full valuation allowance on the Company’s United States net deferred tax assets (see Note 7 Income taxes). At June 30, 2020, total unearned stock-based compensation of $45.7 million related to stock options, RSUs, PSUs and ESPP shares is expected to be recognized over a weighted-average period of 2.3 years. |
Net loss per share
Net loss per share | 6 Months Ended |
Jun. 30, 2020 | |
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: Three months ended June 30, Six months ended June 30, (in thousands, except per share data) 2020 2019 2020 2019 Numerator: Net loss $ (50,975) $ (11,287) $ (114,503) $ (35,652) Denominator: Weighted-average common shares—basic and diluted for Class A and Class B common stock 148,497 144,668 148,028 143,640 Basic and diluted net loss per share $ (0.34) $ (0.08) $ (0.77) $ (0.25) The following potentially dilutive shares were not included in the calculation of diluted shares outstanding as the effect would have been anti-dilutive: Three months ended June 30, Six months ended June 30, (in thousands) 2020 2019 2020 2019 Anti-dilutive stock-based awards 15,057 12,817 14,519 12,870 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 three and six months ended June 30, 2020 and 2019 excludes approximately 9.2 million shares, effectively repurchased and held in treasury stock on the condensed 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. |
Commitments, contingencies and
Commitments, contingencies and guarantees | 6 Months Ended |
Jun. 30, 2020 | |
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: Three months ended June 30, Six months ended June 30, (in thousands) 2020 2019 2020 2019 Operating lease cost (1) $ 4,088 $ 4,459 $ 8,295 $ 9,564 Sublease income (131) (168) (260) (399) Net lease cost $ 3,957 $ 4,291 $ 8,035 $ 9,165 (1) Operating lease cost includes variable lease costs, which are immaterial. Supplemental cash flow information related to leases was as follows: Six months ended June 30, (in thousands) 2020 2019 Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases $ 7,441 $ 6,551 Right-of-use assets obtained in exchange for new operating lease liabilities 147 10,780 Supplemental balance sheet information related to leases was as follows: June 30, 2020 December 31, 2019 Weighted-average remaining lease term (in years) - operating leases 6.04 6.44 Weighted-average discount rate - operating leases 6.2% 6.2% As of June 30, 2020, maturities of operating lease liabilities were as follows: (in thousands) June 30, 2020 2020 (remaining 6 months) $ 6,102 2021 13,706 2022 12,804 2023 12,035 2024 11,897 Thereafter 25,065 Total lease payments 81,609 Less: Imputed interest (14,524) Present value of lease liabilities $ 67,085 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 June 30, 2020, the Company’s total undiscounted future expected obligations under multi-year agreements described above with terms longer than one year was $215.8 million. 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. On June 15, 2020, defendants moved to dismiss the complaint. 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). On April 28, 2020, the Court granted defendants’ motion to dismiss the Consolidated Delaware Derivative Actions with prejudice. On May 8, 2020, plaintiffs filed a notice of appeal. 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. 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 United States 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, including scheduling trial to begin on August 31, 2020. Due to COVID-19 delays, major deadlines in the case were extended, and trial is now scheduled to commence on December 14, 2020. We believe that this matter lacks merit and we intend to vigorously defend against CIPH. We are currently, and in the future, may continue to be, subject to litigation, claims and assertions incidental to our business, including patent infringement litigation and product liability claims, as well as other litigation of a non-material nature in the ordinary course of business. Due to inherent uncertainties of litigation, we cannot accurately predict the ultimate outcome of these matters. We are unable at this time to determine whether the outcome of the litigation would have a material effect on our business, financial condition, results of operations or cash flows. Indemnifications. In the normal course of business, the Company enters into agreements that contain a variety of representations and warranties, and provide for general indemnification. The Company’s exposure under these agreements is unknown because it involves claims that may be made against the Company in the future, but have not yet been made. It is not possible to determine the maximum potential amount under these indemnification agreements due to the Company’s limited history with indemnification claims and the unique facts and circumstances involved in each particular agreement. As of June 30, 2020, 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. |
Subsequent Events (Notes)
Subsequent Events (Notes) | 3 Months Ended |
Jun. 30, 2020 | |
Subsequent Event [Line Items] | |
Subsequent Events [Text Block] | Subsequent events On April 14, 2020, the Board of Directors approved the Company’s restructuring plan to reduce operating costs, optimize its business model and address the impact of the COVID-19 pandemic. The restructuring provided for a reduction in force of the Company’s global workforce of approximately 20% and is expected to be substantially completed by the end of the second quarter of 2020. The restructuring plan will result in an estimated aggregate charge of $31 million to $49 million. Cash expenditures will be approximately $5 million of the estimated aggregate charges in the second quarter of 2020 as a result of a reduction in force. The remaining expenditures are approximately $26 million to $44 million primarily pertaining to planned reductions of office space (including $4 million of non-cash charges) and approximately $5 million for other non-cash charges. The Company anticipates the majority of the office space charges will result in future cash expenditures through 2027. The Company anticipates that a substantial portion of these restructuring charges will be reflected in its second quarter results. |
Summary of business and signifi
Summary of business and significant accounting policies (Policies) | 6 Months Ended |
Jun. 30, 2020 | |
Accounting Policies [Abstract] | |
Basis of presentation | Basis of presentation. The accompanying unaudited condensed 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. The Company’s operating results, financial position and cash flows were negatively impacted by the COVID-19 pandemic and as a result, the Company accelerated a shift in its sales channel strategy to focus more on direct-to-consumer sales through gopro.com, and implemented a restructuring plan in April 2020, which primarily impacted the Company’s global workforce, sales and marketing expenses, and leased facilities. These actions impacted the Company’s financial results in the second quarter of 2020 by reducing on-going operating expenses and to help accelerate its ability to achieve profitability, thus providing sufficient resources to continue as a going concern for at least one year from the date of issuance of the condensed consolidated financial statements contained in this Quarterly Report on Form 10-Q. The condensed consolidated financial statements reflect all adjustments, which are normal and recurring in nature, that management believes are necessary for the fair statement of the Company's financial statements, but are not necessarily indicative of the results expected for the full fiscal year or any other future period. The condensed consolidated balance sheet at December 31, 2019 has been derived from the audited financial statements at that date, but does not include all the disclosures required by GAAP. This Quarterly Report on Form 10-Q should be read in conjunction with the Company's Annual Report on Form 10-K (Annual Report) for the year ended December 31, 2019. There have been no material changes in the Company’s critical accounting policies and estimates from those disclosed in its Annual Report. |
Principles of consolidation | Principles of consolidation. These condensed consolidated financial statements include all the accounts of the Company and its wholly owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. |
Use of estimates | Use of estimates. The preparation of condensed 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 condensed 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), inventory valuation, product warranty liabilities, the valuation, impairment and useful lives of long-lived assets (property and equipment, operating leases, intangible assets and goodwill), income taxes and going concern. The Company bases its estimates and assumptions on historical experience and on various other factors that it believes to be reasonable under the circumstances, including but not limited to the potential impacts arising from the COVID-19 pandemic, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. The extent and continued impact of COVID-19 has been taken into account in making the significant assumptions and estimates related to the above, however if the duration and spread of the outbreak, the impact on our customers, and the effect on our contract manufacturers, vendors and supply chains is different from the Company’s estimates and assumptions, then actual results could differ materially. Given the uncertainty with respect to COVID-19, the Company’s estimates and assumptions may evolve as conditions change. To the extent there are material differences between the estimates and the actual results, future results of operations could be affected. |
Comprehensive income (loss) | Comprehensive income (loss). |
Lessee, Operating Leases [Text Block] | Leases. The Company leases its office space and facilities under cancelable and non-cancelable operating leases. Operating leases are presented as operating lease right-of-use (ROU) assets, short-term operating lease liabilities and long-term operating lease liabilities on the Company’s condensed 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. |
Sales Incentives [Policy Text Block] | Sales incentives. |
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. |
Accounting Policies (Tables)
Accounting Policies (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Accounting Policies [Abstract] | |
Schedule of recent accounting pronouncements | Recent accounting standards Standard Description Company’s date of adoption Effect on the condensed consolidated financial statements or other significant matters Standards that were adopted Intangible - Goodwill and Other ASU No. 2017-04 (Topic 350) This standard simplifies the accounting for goodwill and removes Step 2 of the annual goodwill impairment test. Upon adoption, goodwill impairment is determined based on the amount by which a reporting unit’s carrying value exceeds its fair value, not to exceed the carrying amount of goodwill. The standard is applied on a prospective transition method. January 1, 2020 The adoption of this standard did not impact the Company’s condensed consolidated financial statements and related disclosures. Financial Instruments - Credit Losses: Measurement of Credit Losses on Financial Instruments ASU No. 2016-13 (Topic 326) The standard changes the impairment model for most financial assets and replaces the existing incurred loss model with a current expected credit loss (CECL) model. The standard is applied on a modified retrospective approach. January 1, 2020 The Company’s allowance for doubtful accounts and valuation of available-for-sale securities are subject to this standard. The Company concluded the adoption of this standard did not have a material impact on its condensed consolidated financial statements and related disclosures. |
Fair value measurements (Tables
Fair value measurements (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
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: June 30, 2020 December 31, 2019 (in thousands) Level 1 Level 2 Total Level 1 Level 2 Total Cash equivalents (1) : Money market funds $ 19,442 $ — $ 19,442 $ 4,413 $ — $ 4,413 Total cash equivalents $ 19,442 $ — $ 19,442 $ 4,413 $ — $ 4,413 Marketable securities: Corporate debt securities $ — $ — $ — $ — $ 14,847 $ 14,847 Total marketable securities $ — $ — $ — $ — $ 14,847 $ 14,847 (1) Included in cash and cash equivalents in the accompanying condensed consolidated balance sheets. Cash balances were $60.2 million and $145.9 million as of June 30, 2020 and December 31, 2019, respectively. |
Condensed consolidated financ_2
Condensed consolidated financial statement details (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Schedule of Inventory | Inventory (in thousands) June 30, 2020 December 31, 2019 Components $ 24,232 $ 20,370 Finished goods 117,919 123,866 Total inventory $ 142,151 $ 144,236 |
Property, Plant and Equipment | Property and equipment, net (in thousands) June 30, 2020 December 31, 2019 Leasehold improvements $ 49,846 $ 50,736 Production, engineering and other equipment 47,019 45,649 Tooling 18,223 19,216 Computers and software 22,431 21,719 Furniture and office equipment 10,527 10,846 Tradeshow equipment and other 7,083 7,009 Construction in progress 287 45 Gross property and equipment 155,416 155,220 Less: Accumulated depreciation and amortization (126,236) (118,681) Property and equipment, net $ 29,180 $ 36,539 |
Schedule of Finite-Lived Intangible Assets | Intangible assets June 30, 2020 (in thousands) Gross carrying value Accumulated amortization Net carrying value Purchased technology $ 51,066 $ (48,180) $ 2,886 Domain name 15 — 15 Total intangible assets $ 51,081 $ (48,180) $ 2,901 December 31, 2019 (in thousands) Gross carrying value Accumulated amortization Net carrying value Purchased technology $ 50,501 $ (45,269) $ 5,232 Domain name 15 — 15 Total intangible assets $ 50,516 $ (45,269) $ 5,247 |
Schedule of Future Amortization | At June 30, 2020, expected amortization expense of intangible assets with definite lives for future periods was as follows: (in thousands) Total Year ending December 31, 2020 (remaining 6 months) $ 1,687 2021 1,152 2022 47 $ 2,886 |
Schedule of Other Assets | Other long-term assets (in thousands) June 30, 2020 December 31, 2019 Point of purchase (POP) displays $ 6,023 $ 7,595 Long-term deferred tax assets 811 864 Deposits and other 6,730 7,002 Other long-term assets $ 13,564 $ 15,461 |
Schedule of Accrued Liabilities | Accrued expenses and other current liabilities (in thousands) June 30, 2020 December 31, 2019 Accrued payables (1) $ 28,970 $ 42,153 Accrued sales incentives 23,701 39,120 Employee related liabilities (1) 6,574 20,494 Return liability 12,430 14,854 Warranty liability 5,679 9,899 Inventory received 1,281 5,737 Customer deposits 3,332 2,063 Purchase order commitments 2,083 1,710 Income taxes payable 1,101 1,166 Other 3,454 4,594 Accrued expenses and other current liabilities $ 88,605 $ 141,790 |
Employee benefit plans (Tables)
Employee benefit plans (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Share-based Payment Arrangement [Abstract] | |
schedule of share-based compensation, Performance Stock Units Award Activity [Table Text Block] | A summary of the Company’s PSU activity for the six months ended June 30, 2020 is as follows: Shares (in thousands) Weighted-average grant date fair value Non-vested shares at December 31, 2019 788 $ 7.51 Granted 1,221 4.04 Vested (179) 7.51 Forfeited (205) 7.02 Non-vested shares at June 30, 2020 1,625 $ 4.97 |
Schedule of Share-based Compensation, Stock Options, Activity | A summary of the Company’s stock option activity for the six months ended June 30, 2020 is as follows: Shares (in thousands) Weighted-average exercise price Weighted-average remaining contractual term (in years) Aggregate intrinsic value (in thousands) Outstanding at December 31, 2019 3,963 $ 10.16 6.35 $ 374 Granted 1,006 3.99 Exercised (25) 1.13 Forfeited/Cancelled (773) 9.88 Outstanding at June 30, 2020 4,171 $ 8.78 6.59 $ 1,064 Vested and expected to vest at June 30, 2020 4,171 $ 8.78 6.59 $ 1,064 Exercisable at June 30, 2020 2,676 $ 10.93 5.12 $ 324 |
Schedule of Share-based Compensation, Restricted Stock Units Award Activity | A summary of the Company’s RSU activity for the six months ended June 30, 2020 is as follows: Shares (in thousands) Weighted-average grant date fair value Non-vested shares at December 31, 2019 8,225 $ 6.11 Granted 5,604 4.09 Vested (1,649) 6.78 Forfeited (1,823) 5.50 Non-vested shares at June 30, 2020 10,357 $ 5.02 |
Allocation of Stock-based Compensation Expense | The following table summarizes stock-based compensation expense included in the condensed consolidated statements of operations: Three months ended June 30, Six months ended June 30, (in thousands) 2020 2019 2020 2019 Cost of revenue $ 332 $ 522 $ 835 $ 1,035 Research and development 3,063 4,884 6,085 9,561 Sales and marketing 789 2,221 2,506 4,434 General and administrative 1,692 2,979 4,087 5,361 Total stock-based compensation expense $ 5,876 $ 10,606 $ 13,513 $ 20,391 |
Net loss per share (Tables)
Net loss per share (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
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: Three months ended June 30, Six months ended June 30, (in thousands, except per share data) 2020 2019 2020 2019 Numerator: Net loss $ (50,975) $ (11,287) $ (114,503) $ (35,652) Denominator: Weighted-average common shares—basic and diluted for Class A and Class B common stock 148,497 144,668 148,028 143,640 Basic and diluted net loss per share $ (0.34) $ (0.08) $ (0.77) $ (0.25) |
Schedule of Antidilutive Securities Excluded from Computation of Net Income per Share | The following potentially dilutive shares were not included in the calculation of diluted shares outstanding as the effect would have been anti-dilutive: Three months ended June 30, Six months ended June 30, (in thousands) 2020 2019 2020 2019 Anti-dilutive stock-based awards 15,057 12,817 14,519 12,870 |
Income taxes (Tables)
Income taxes (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Income Tax Disclosure [Abstract] | |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | Three months ended June 30, Six months ended June 30, (dollars in thousands) 2020 2019 2020 2019 Income tax expense (benefit) $ 1,069 $ (605) $ 3,468 $ (227) Effective tax rate (2.1) % 5.1 % (3.1) % 0.6 % |
Commitments, contingencies an_2
Commitments, contingencies and guarantees (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Leases [Abstract] | |
Components of Lease Expense [Text Block] | The components of net lease cost, which were recorded in operating expenses, were as follows: Three months ended June 30, Six months ended June 30, (in thousands) 2020 2019 2020 2019 Operating lease cost (1) $ 4,088 $ 4,459 $ 8,295 $ 9,564 Sublease income (131) (168) (260) (399) Net lease cost $ 3,957 $ 4,291 $ 8,035 $ 9,165 (1) Operating lease cost includes variable lease costs, which are immaterial. |
Schedule of Supplemental Cash Flow Information Related To Leases [Text Block] | Supplemental cash flow information related to leases was as follows: Six months ended June 30, (in thousands) 2020 2019 Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases $ 7,441 $ 6,551 Right-of-use assets obtained in exchange for new operating lease liabilities 147 10,780 Supplemental balance sheet information related to leases was as follows: June 30, 2020 December 31, 2019 Weighted-average remaining lease term (in years) - operating leases 6.04 6.44 Weighted-average discount rate - operating leases 6.2% 6.2% |
Schedule of Maturities of Lease Liabilities [Text Block] | As of June 30, 2020, maturities of operating lease liabilities were as follows: (in thousands) June 30, 2020 2020 (remaining 6 months) $ 6,102 2021 13,706 2022 12,804 2023 12,035 2024 11,897 Thereafter 25,065 Total lease payments 81,609 Less: Imputed interest (14,524) Present value of lease liabilities $ 67,085 |
Concentrations of risk and geog
Concentrations of risk and geographic information (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Concentration Risk [Line Items] | |
Schedule of Accounts, Notes, Loans and Financing Receivable | The following table summarizes the Company’s accounts receivables sold, without recourse, and factoring fees paid: Three months ended June 30, Six months ended June 30, (in thousands) 2020 2019 2020 2019 Accounts receivable sold $ 4,242 $ 38,525 $ 35,561 $ 54,948 Factoring fees 38 478 186 698 |
Schedule of Revenue by Geographic Region | Revenue by geographic region was as follows: Three months ended June 30, Six months ended June 30, (in thousands) 2020 2019 2020 2019 Americas $ 82,640 $ 142,267 $ 139,887 $ 251,341 Europe, Middle East and Africa (EMEA) 34,909 82,893 64,628 153,759 Asia and Pacific (APAC) 16,697 67,269 49,131 130,037 Total revenue $ 134,246 $ 292,429 $ 253,646 $ 535,137 |
Accounts Receivable [Member] | |
Concentration Risk [Line Items] | |
Schedules of Customer Concentration by Risk Factor | Customers who represented 10% or more of the Company’s net accounts receivable balance were as follows: June 30, 2020 December 31, 2019 Customer A * 15% Customer B 24% 11% Customer C 24% * Customer D 10% * * 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: Three months ended June 30, Six months ended June 30, 2020 2019 2020 2019 Customer A * 17% * 15% Customer B 13% * * * Customer C 10% * * * * Less than 10% of total revenue for the period indicated. |
Restructuring charges (Tables)
Restructuring charges (Tables) | 6 Months Ended |
Jun. 30, 2020 | |
Restructuring Cost and Reserve [Line Items] | |
Restructuring and Related Costs | Restructuring charges for each period were as follows: Six months ended June 30, (in thousands) 2020 2019 Cost of revenue $ 332 $ 54 Research and development 2,500 556 Sales and marketing 7,215 314 General and administrative 1,240 501 Total restructuring charges $ 11,287 $ 1,425 |
Schedule of Restructuring Reserve by Type of Cost | The following table provides a summary of the Company’s restructuring activities and the movement in the related liabilities recorded in accrued expenses and other current liabilities, and other long-term liabilities on the condensed consolidated balance sheet under the first quarter 2017 restructuring plan. (in thousands) Severance Other Total Restructuring liability as of December 31, 2019 $ — $ 4,470 $ 4,470 Restructuring charges — (73) (73) Cash paid — (1,736) (1,736) Restructuring liability as of June 30, 2020 $ — $ 2,661 $ 2,661 |
Summary of business and signi_2
Summary of business and significant accounting policies (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | Dec. 31, 2019 | |
Property, Plant and Equipment [Line Items] | |||||
Document Period End Date | Jun. 30, 2020 | ||||
Deferred Revenue | $ 14.1 | $ 14.1 | $ 16.6 | ||
Deferred Revenue, Revenue Recognized | $ 5.5 | $ 5.3 | $ 9.8 | $ 9.7 |
Fair value measurements (Detail
Fair value measurements (Details) - USD ($) $ in Thousands | Jun. 30, 2020 | Dec. 31, 2019 | Apr. 12, 2017 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Cash | $ 60,200 | $ 145,900 | |
Marketable securities | 0 | 14,847 | |
Level 2 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Fair value of convertible senior notes | 154,000 | ||
Fair Value, Recurring [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Cash and Cash Equivalents | 19,442 | 4,413 | |
Marketable securities | 0 | 14,847 | |
Fair Value, Recurring [Member] | Corporate Debt Securities [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Marketable securities | 0 | 14,847 | |
Fair Value, Recurring [Member] | Money Market Funds [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Cash and Cash Equivalents | 19,442 | 4,413 | |
Fair Value, Recurring [Member] | Level 1 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Cash and Cash Equivalents | 19,442 | 4,413 | |
Marketable securities | 0 | 0 | |
Fair Value, 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, 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 | 19,442 | 4,413 | |
Fair Value, Recurring [Member] | Level 2 [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Cash and Cash Equivalents | 0 | 0 | |
Marketable securities | 0 | 14,847 | |
Fair Value, Recurring [Member] | Level 2 [Member] | Corporate Debt Securities [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Marketable securities | 0 | 14,847 | |
Fair Value, Recurring [Member] | Level 2 [Member] | Money Market Funds [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Cash and Cash Equivalents | $ 0 | $ 0 | |
Convertible 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 | Jun. 30, 2020 | Dec. 31, 2019 | Jun. 30, 2019 | Dec. 31, 2018 |
Cash and Cash Equivalents [Line Items] | ||||
Marketable securities | $ 0 | $ 14,847 | ||
Cash | 60,200 | 145,900 | ||
Cash and cash equivalents | 79,679 | 150,301 | $ 91,250 | $ 152,095 |
Fair Value, Recurring [Member] | ||||
Cash and Cash Equivalents [Line Items] | ||||
Marketable securities | $ 0 | $ 14,847 |
Condensed consolidated financ_4
Condensed consolidated financial statement details - Inventory (Details) - USD ($) $ in Thousands | Jun. 30, 2020 | Dec. 31, 2019 |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||
Components | $ 24,232 | $ 20,370 |
Finished goods | 117,919 | 123,866 |
Total inventory | $ 142,151 | $ 144,236 |
Condensed consolidated financ_5
Condensed consolidated financial statement details - Property and Equipment, Net (Details) - USD ($) $ in Thousands | Jun. 30, 2020 | Dec. 31, 2019 |
Property, Plant and Equipment [Line Items] | ||
Gross property and equipment | $ 155,416 | $ 155,220 |
Less: Accumulated depreciation and amortization | (126,236) | (118,681) |
Property and equipment, net | 29,180 | 36,539 |
Leasehold Improvements [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Gross property and equipment | 49,846 | 50,736 |
Production, engineering and other equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Gross property and equipment | 47,019 | 45,649 |
Tooling [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Gross property and equipment | 18,223 | 19,216 |
Computers and software [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Gross property and equipment | 22,431 | 21,719 |
Furniture and office equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Gross property and equipment | 10,527 | 10,846 |
Tradeshow Equipment and other [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Gross property and equipment | 7,083 | 7,009 |
Construction in Progress [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Gross property and equipment | $ 287 | $ 45 |
Condensed consolidated financ_6
Condensed consolidated financial statement details - Intangible Assets and Goodwill (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | Dec. 31, 2019 | |
Finite-Lived Intangible Assets, Net [Abstract] | |||||
Gross carrying value | $ 51,066 | $ 51,066 | $ 50,501 | ||
Accumulated amortization | (48,180) | (48,180) | (45,269) | ||
Net carrying value | 2,886 | 2,886 | 5,232 | ||
Intangible Assets, Gross (Excluding Goodwill) | 51,081 | 51,081 | 50,516 | ||
Intangible assets, net | 2,901 | 2,901 | 5,247 | ||
Indefinite-lived Intangible Assets [Roll Forward] | |||||
Amortization of intangible assets | 1,000 | $ 2,000 | 2,900 | $ 4,100 | |
Goodwill | 146,459 | 146,459 | 146,459 | ||
Indefinite-Lived Trademarks | $ 15 | $ 15 | $ 15 |
Condensed consolidated financ_7
Condensed consolidated financial statement details - Future Amortization (Details) - USD ($) $ in Thousands | Jun. 30, 2020 | Dec. 31, 2019 |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||
2020 | $ 1,687 | |
2021 | 1,152 | |
Net carrying value | 2,886 | $ 5,232 |
Finite-Lived Intangible Assets, Amortization Expense, Year Three | $ 47 |
Condensed consolidated financ_8
Condensed consolidated financial statement details - Other Assets (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | Dec. 31, 2019 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |||||
POP Displays | $ 6,023 | $ 6,023 | $ 7,595 | ||
Deferred Tax Assets, Net | 811 | 811 | 864 | ||
Deposits and other | 6,730 | 6,730 | 7,002 | ||
Other long-term assets | 13,564 | 13,564 | $ 15,461 | ||
Amortization of intangible assets | $ 1,000 | $ 2,000 | $ 2,900 | $ 4,100 |
Condensed consolidated financ_9
Condensed consolidated financial statement details - Accrued Liabilities (Details) - USD ($) | Jun. 30, 2020 | Dec. 31, 2019 |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||
Employee related liabilities | $ 6,574,000 | $ 20,494,000 |
Accrued sales incentives | 23,701,000 | 39,120,000 |
Other Accounts Payable and Accrued Liabilities | 28,970,000 | 42,153,000 |
Customer Refund Liability, Current | 12,430,000 | 14,854,000 |
Warranty liability | 5,679,000 | 9,899,000 |
Customer deposits | 3,332,000 | 2,063,000 |
Income taxes payable | 1,101,000 | 1,166,000 |
Purchase Commitment, Remaining Minimum Amount Committed | 2,083,000 | 1,710,000 |
Inventory received | 1,281,000 | 5,737,000 |
Other | 3,454,000 | 4,594,000 |
Accrued expenses and other current liabilities | $ 88,605,000 | $ 141,790,000 |
Condensed consolidated finan_10
Condensed consolidated financial statement details - Product Warranty (Details) - USD ($) | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | Dec. 31, 2019 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |||||
Beginning balances | $ 8,954,000 | $ 11,593,000 | $ 11,398,000 | $ 10,971,000 | |
Charged to cost of revenue | 1,269,000 | 4,254,000 | 2,986,000 | 10,403,000 | |
Settlements of warranty claims | (2,897,000) | (2,997,000) | (7,058,000) | (8,524,000) | |
Ending balances | 7,326,000 | $ 12,850,000 | 7,326,000 | $ 12,850,000 | |
Warranty liability | 5,679,000 | 5,679,000 | $ 9,899,000 | ||
Product Warranty Accrual, Noncurrent | $ 1,600,000 | $ 1,600,000 | $ 1,500,000 |
Financing Arrangements (Details
Financing Arrangements (Details) $ / shares in Units, shares in Millions | Apr. 12, 2017USD ($)$ / sharesshares | Mar. 31, 2016USD ($) | Jun. 30, 2020USD ($) | Jun. 30, 2019USD ($) | Jun. 30, 2020USD ($)shares | Jun. 30, 2019USD ($)shares | Dec. 31, 2019USD ($) |
Line of Credit Facility [Line Items] | |||||||
Credit agreement, current borrowing capacity | $ 58,500,000 | $ 58,500,000 | |||||
Document Period End Date | Jun. 30, 2020 | ||||||
Long-term Debt, Percentage Bearing Fixed Interest, Amount | $ 128,300,000 | ||||||
Convertible debt, equity portion | 46,700,000 | ||||||
Long-term debt | 154,063,000 | $ 154,063,000 | $ 148,810,000 | ||||
Amortization of Debt Discount (Premium) | $ 4,850,000 | $ 4,378,000 | |||||
Payments for Repurchase of Equity, Prepaid Forward | $ 78,000,000 | ||||||
Treasury Shares Acquired, Estimated, Prepaid Forward | shares | 9.2 | 9.2 | 9.2 | ||||
Revolving Credit Facility [Member] | |||||||
Line of Credit Facility [Line Items] | |||||||
Credit agreement, current borrowing capacity | $ 250,000,000 | ||||||
Debt, Current | 30,000,000 | $ 30,000,000 | |||||
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 | ||||||
Convertible Debt [Member] | |||||||
Line of Credit Facility [Line Items] | |||||||
Debt Instrument | $ 175,000,000 | ||||||
Debt Instrument, Unamortized Discount | 19,400,000 | 19,400,000 | 24,300,000 | ||||
Interest rate | 3.50% | ||||||
Debt Instrument, Convertible, Conversion Ratio | 94.0071 | ||||||
Convertible Debt Principal Amount Conversion | $ 1,000 | $ 175,000,000 | 175,000,000 | 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 | $ 154,100,000 | 154,100,000 | 148,800,000 | ||||
Interest Expense, Debt | 1,600,000 | $ 1,600,000 | 3,100,000 | $ 3,100,000 | |||
Amortization of Debt Issuance Costs | 200,000 | 200,000 | 400,000 | 400,000 | |||
Amortization of Debt Discount (Premium) | 2,500,000 | $ 2,300,000 | 4,900,000 | $ 4,400,000 | |||
Long-term Debt [Member] | Convertible Debt [Member] | |||||||
Line of Credit Facility [Line Items] | |||||||
Debt Issuance Costs, Gross | 4,200,000 | ||||||
Debt Issuance Costs, Net | $ 1,500,000 | $ 1,500,000 | $ 1,900,000 | ||||
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% |
Employee benefit plans - Narrat
Employee benefit plans - Narrative (Details) - USD ($) | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2020 | Mar. 31, 2020 | Jun. 30, 2019 | Mar. 31, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Allocated share-based compensation expense | $ 5,876,000 | $ 7,637,000 | $ 10,606,000 | $ 9,782,000 | ||
ESPP stock issued during period (shares) | 556,000 | 458,000 | ||||
ESPP weighted average purchase price of shares purchased (usd per share) | $ 3.38 | $ 4.96 | ||||
Unearned stock-based compensation, expected recognition period | 2 years 3 months 18 days | |||||
Share-based Payment Arrangement, Expense, Tax Benefit | 0 | $ 0 | $ 0 | $ 0 | ||
RSUs [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Shares granted (shares) | 5,604,000 | |||||
Weighted average price of shares granted (usd per share) | $ 4.09 | |||||
Performance Shares [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Shares granted (shares) | 1,221,000 | |||||
Weighted average price of shares granted (usd per share) | $ 4.04 | |||||
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 | $ 45,700,000 | $ 45,700,000 | ||||
2014 Equity Incentive Plans [Member] | Stock Options [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Expiration Period | 10 years | |||||
2014 Equity Incentive Plans [Member] | Performance Shares [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Award Vesting Period | 3 years | |||||
2014 Equity Incentive Plans [Member] | Minimum [Member] | Stock Options [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Award Vesting Period | 1 year | |||||
2014 Equity Incentive Plans [Member] | Minimum [Member] | RSUs [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Award Vesting Period | 2 years | |||||
2014 Equity Incentive Plans [Member] | Maximum [Member] | Stock Options [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Award Vesting Period | 4 years | |||||
2014 Equity Incentive Plans [Member] | Maximum [Member] | RSUs [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Award Vesting Period | 4 years |
Employee benefit plans - Stock
Employee benefit plans - Stock Option Activity (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2020 | Dec. 31, 2019 | |
Shares (in thousands) | ||
Outstanding at beginning of period (shares) | 3,963 | |
Granted (shares) | 1,006 | |
Exercised (shares) | (25) | |
Forfeited/Cancelled (shares) | (773) | |
Outstanding at end of period (shares) | 4,171 | 3,963 |
Weighted-average exercise price | ||
Outstanding at beginning of period (in dollars per share) | $ 10.16 | |
Granted (usd per share) | 3.99 | |
Exercised (usd per share) | 1.13 | |
Outstanding at end of period (in dollars per share) | $ 8.78 | $ 10.16 |
Weighted Average Remaining Contractual Term (in years) | 6 years 7 months 2 days | 6 years 4 months 6 days |
Aggregate intrinsic value (in thousands) | $ 1,064 | $ 374 |
Vested and Expected to Vest (shares) | 4,171 | |
Vested and Expected to Vest - Weighted Average Exercise Price (in dollars per share) | $ 8.78 | |
Vested and Expected to Vest- Weighted Average Remaining Contractual Term | 6 years 7 months 2 days | |
Vested and Expected to Vest - Aggregate Intrinsic Value | $ 1,064 | |
Exercisable (shares) | 2,676 | |
Exercisable - Weighted average exercise price (in dollars per share) | $ 10.93 | |
Exercisable - Weighted Average Remaining Contractual Term | 5 years 1 month 13 days | |
Exercisable - Aggregate intrinsic value | $ 324 | |
Share-based Compensation Arrangements by Share-based Payment Award, Options, Forfeitures in Period, Weighted Average Exercise Price | $ 9.88 |
Employee benefit plans - Restri
Employee benefit plans - Restricted Stock Units Activity (Details) - RSUs [Member] shares in Thousands | 6 Months Ended |
Jun. 30, 2020$ / sharesshares | |
Shares (in thousands) | |
Non-vested shares at beginning of period (shares) | shares | 8,225 |
Granted (shares) | shares | 5,604 |
Vested (shares) | shares | (1,649) |
Forfeited (shares) | shares | (1,823) |
Non-vested shares at end of period (shares) | shares | 10,357 |
Weighted-average grant date fair value | |
Non-vested shares at beginning of period (in dollars per share) | $ / shares | $ 6.11 |
Weighted average price of shares granted (usd per share) | $ / shares | 4.09 |
Weighted average price of shares vested (usd per share) | $ / shares | 6.78 |
Weighted average price of shares forfeited (usd per share) | $ / shares | 5.50 |
Non-vested shares at end of period (in dollars per share) | $ / shares | $ 5.02 |
Employee benefit plans - Alloca
Employee benefit plans - Allocation of Stock-based Compensation Expense (Details) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items] | ||||
Total stock-based compensation expense | $ 5,876,000 | $ 10,606,000 | $ 13,513,000 | $ 20,391,000 |
Share-based Payment Arrangement, Expense, Tax Benefit | 0 | 0 | 0 | 0 |
Cost of Revenue [Member] | ||||
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items] | ||||
Total stock-based compensation expense | 332,000 | 522,000 | 835,000 | 1,035,000 |
Research and Development [Member] | ||||
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items] | ||||
Total stock-based compensation expense | 3,063,000 | 4,884,000 | 6,085,000 | 9,561,000 |
Selling and Marketing Expense [Member] | ||||
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items] | ||||
Total stock-based compensation expense | 789,000 | 2,221,000 | 2,506,000 | 4,434,000 |
General and Administrative [Member] | ||||
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items] | ||||
Total stock-based compensation expense | $ 1,692,000 | $ 2,979,000 | $ 4,087,000 | $ 5,361,000 |
Employee benefit plans Performa
Employee benefit plans Performance Stock Units activity (Details) - Performance Shares [Member] - $ / shares shares in Thousands | 6 Months Ended | |
Jun. 30, 2020 | Dec. 31, 2019 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Restricted stock units outstanding (shares) | 1,625 | 788 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value | $ 4.97 | $ 7.51 |
Granted (shares) | 1,221 | |
Weighted average price of shares granted (usd per share) | $ 4.04 | |
Vested (shares) | (179) | |
Weighted average price of shares vested (usd per share) | $ 7.51 | |
Forfeited (shares) | (205) | |
Weighted average price of shares forfeited (usd per share) | $ 7.02 |
Net loss per share Additional I
Net loss per share Additional Information (Details) - USD ($) $ in Millions | Apr. 12, 2017 | Jun. 30, 2020 | Jun. 30, 2019 |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Document Period End Date | Jun. 30, 2020 | ||
Treasury Shares Acquired, Estimated, Prepaid Forward | 9,200,000 | 9,200,000 | 9,200,000 |
Common Class A [Member] | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Common Stock, Voting Rights, Number | 1 | ||
Conversion of Stock, Shares Issued | 1 | ||
Common Class B [Member] | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Common Stock, Voting Rights, Number | 10 | ||
Convertible 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 | Apr. 12, 2017 | Jun. 30, 2020 | Mar. 31, 2020 | Jun. 30, 2019 | Mar. 31, 2019 | Jun. 30, 2020 | Jun. 30, 2019 |
Earnings Per Share [Abstract] | |||||||
Treasury Shares Acquired, Estimated, Prepaid Forward | 9,200 | 9,200 | 9,200 | ||||
Numerator: | |||||||
Net loss | $ (50,975) | $ (63,528) | $ (11,287) | $ (24,365) | $ (114,503) | $ (35,652) | |
Denominator: | |||||||
Weighted-average common shares—basic for Class A and Class B common stock (shares) | 148,497 | 144,668 | 148,028 | 143,640 | |||
Earnings Per Share, Basic and Diluted | $ (0.34) | $ (0.08) | $ (0.77) | $ (0.25) |
Net loss per share - Antidiluti
Net loss per share - Antidilutive Securities Excluded from Computation of Net Income per Share (Details) - shares shares in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Earnings Per Share [Abstract] | ||||
Antidilutive securities excluded from computation of earnings per share (shares) | 15,057 | 12,817 | 14,519 | 12,870 |
Income taxes Income Taxes (Deta
Income taxes Income Taxes (Details) (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Income Tax Disclosure [Abstract] | ||||
Loss before income taxes | $ (49,906) | $ (11,892) | $ (111,035) | $ (35,879) |
Income tax (benefit) expense | $ (1,069) | $ 605 | $ (3,468) | $ 227 |
Effective Income Tax Rate Reconciliation, Percent | (2.10%) | 5.10% | (3.10%) | 0.60% |
Other Tax Expense (Benefit) | $ 100 | $ 300 |
Income taxes - Income Tax Expen
Income taxes - Income Tax Expense (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Income Tax Disclosure [Abstract] | ||||
Income tax (benefit) expense | $ 1,069 | $ (605) | $ 3,468 | $ (227) |
Effective Income Tax Rate Reconciliation, Percent | (2.10%) | 5.10% | (3.10%) | 0.60% |
Current Foreign Tax Expense (Benefit) | $ 600 | $ 400 | $ 2,900 | $ 900 |
Income taxes - Unrecognized Inc
Income taxes - Unrecognized Income Tax Benefits (Details) - USD ($) $ in Millions | 6 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2020 | |
Income Tax Disclosure [Abstract] | ||
Unrecognized Tax Benefits that Would Impact Effective Tax Rate | $ 14.1 | |
Unrecognized Tax Benefits, Increase Resulting from Current Period Tax Positions | $ 0.5 |
Income taxes - Narrative (Detai
Income taxes - Narrative (Details) - USD ($) | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | Dec. 31, 2019 | |
Income Tax Disclosure [Abstract] | |||||
Increase in Unrecognized Tax Benefits is Reasonably Possible | $ 13,000,000 | $ 13,000,000 | |||
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount | 800,000 | 2,000,000 | $ 1,400,000 | ||
Income Tax Effects Allocated Directly to Equity, Other | 700,000 | $ 400,000 | 1,800,000 | 900,000 | |
Unrecognized Tax Benefits, Increase Resulting from Current Period Tax Positions | 500,000 | ||||
Tax Adjustments, Settlements, and Unusual Provisions | 900,000 | 900,000 | |||
Other Tax Expense (Benefit) | 100,000 | 300,000 | |||
Unrecognized Tax Benefits | 28,700,000 | 28,700,000 | $ 27,200,000 | ||
Current Foreign Tax Expense (Benefit) | 600,000 | 400,000 | 2,900,000 | 900,000 | |
Loss before income taxes | (49,906,000) | (11,892,000) | (111,035,000) | (35,879,000) | |
Income tax (benefit) expense | 1,069,000 | (605,000) | 3,468,000 | (227,000) | |
Unrecognized Tax Benefits, Period Increase (Decrease) | 500,000 | 500,000 | |||
Income Tax Expense (Benefit), Continuing Operations, Adjustment of Deferred Tax (Asset) Liability | 2,600,000 | 2,600,000 | |||
Restructuring adjustments | $ 2,400,000 | $ 400,000 | $ 2,400,000 | $ 500,000 |
Commitments, contingencies an_3
Commitments, contingencies and guarantees - Narrative (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | Dec. 31, 2019 | |
Long-term Purchase Commitment [Line Items] | |||||
Operating Lease, Cost | $ 4,088 | $ 4,459 | $ 8,295 | $ 9,564 | |
Operating Lease, Payments | $ 7,441 | 6,551 | |||
Document Period End Date | Jun. 30, 2020 | ||||
Lessee, Operating Lease, Liability, Payments, Remainder of Fiscal Year | 6,102 | $ 6,102 | |||
Lessee, Operating Lease, Liability, Payments, Due Next Twelve Months | 13,706 | 13,706 | |||
Lessee, Operating Lease, Liability, Payments, Due Year Two | 12,804 | 12,804 | |||
Lessee, Operating Lease, Liability, Payments, Due Year Three | 12,035 | 12,035 | |||
Lessee, Operating Lease, Liability, Payments, Due Year Five | 11,897 | 11,897 | |||
Lessee, Operating Lease, Liability, Payments, Due after Year Five | 25,065 | 25,065 | |||
Lessee, Operating Lease, Liability, Payments, Due | 81,609 | 81,609 | |||
us-gaap_Lessee Operating Lease Liability Undiscounted Excess Amount | (14,524) | (14,524) | |||
Other Commitment | $ 215,800 | 215,800 | |||
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability | $ 147 | 10,780 | |||
Operating Lease, Weighted Average Remaining Lease Term | 6 years 14 days | 6 years 14 days | 6 years 5 months 8 days | ||
Operating Lease, Weighted Average Discount Rate, Percent | 6.20% | 6.20% | 6.20% | ||
Operating Lease, Liability | $ 67,085 | $ 67,085 | |||
Sublease Income | (131) | (168) | (260) | (399) | |
Lease, Cost | $ 3,957 | $ 4,291 | $ 8,035 | $ 9,165 |
Concentrations of risk and ge_2
Concentrations of risk and geographic information - Narrative (Details) - USD ($) | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | Dec. 31, 2019 | |
Revenue, Major Customer [Line Items] | |||||
Revenue | $ 134,246,000 | $ 292,429,000 | $ 253,646,000 | $ 535,137,000 | |
Document Period End Date | Jun. 30, 2020 | ||||
United States [Member] | |||||
Revenue, Major Customer [Line Items] | |||||
Revenue | 76,800,000 | $ 117,700,000 | $ 122,500,000 | $ 200,700,000 | |
Outside the United States [Member] | |||||
Revenue, Major Customer [Line Items] | |||||
Long-lived assets | $ 8,500,000 | $ 8,500,000 | $ 11,000,000 |
Concentrations of risk and ge_3
Concentrations of risk and geographic information - Schedule of Customer Concentration by Risk Factor (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | Dec. 31, 2019 | |
Concentration Risk [Line Items] | |||||
Document Period End Date | Jun. 30, 2020 | ||||
Accounts receivable sold | $ 4,242 | $ 38,525 | $ 35,561 | $ 54,948 | |
Factoring fees | $ 38 | $ 478 | $ 186 | $ 698 | |
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 | 24.00% | 11.00% | |||
Customer Concentration Risk [Member] | Accounts Receivable [Member] | Customer C [Member] | |||||
Concentration Risk [Line Items] | |||||
Concentration risk | 24.00% | ||||
Customer Concentration Risk [Member] | Accounts Receivable [Member] | Customer D | |||||
Concentration Risk [Line Items] | |||||
Concentration risk | 10.00% | ||||
Customer Concentration Risk [Member] | Sales Revenue [Member] | Customer A [Member] | |||||
Concentration Risk [Line Items] | |||||
Concentration risk | 17.00% | 15.00% | |||
Customer Concentration Risk [Member] | Sales Revenue [Member] | Customer B [Member] | |||||
Concentration Risk [Line Items] | |||||
Concentration risk | 13.00% | ||||
Customer Concentration Risk [Member] | Sales Revenue [Member] | Customer C [Member] | |||||
Concentration Risk [Line Items] | |||||
Concentration risk | 10.00% |
Concentrations of risk and ge_4
Concentrations of risk and geographic information - Schedule of Revenue by Geographic Segment (Details) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019 | |
Segment Reporting Information [Line Items] | ||||
Revenue | $ 134,246,000 | $ 292,429,000 | $ 253,646,000 | $ 535,137,000 |
United States [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenue | 76,800,000 | 117,700,000 | 122,500,000 | 200,700,000 |
Americas [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenue | 82,640,000 | 142,267,000 | 139,887,000 | 251,341,000 |
Europe, Middle East and Africa [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenue | 34,909,000 | 82,893,000 | 64,628,000 | 153,759,000 |
Asia and Pacific Area Countries [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenue | $ 16,697,000 | $ 67,269,000 | $ 49,131,000 | $ 130,037,000 |
Restructuring charges - Restruc
Restructuring charges - Restructuring Costs (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2020 | Jun. 30, 2017 | Jun. 30, 2020 | Jun. 30, 2019 | Dec. 31, 2019 | |
Restructuring Cost and Reserve [Line Items] | |||||
Restructuring charges | $ 11,287 | $ 1,425 | |||
Cost of Revenue [Member] | |||||
Restructuring Cost and Reserve [Line Items] | |||||
Restructuring charges | 332 | 54 | |||
Research and Development [Member] | |||||
Restructuring Cost and Reserve [Line Items] | |||||
Restructuring charges | 2,500 | 556 | |||
Selling and Marketing Expense [Member] | |||||
Restructuring Cost and Reserve [Line Items] | |||||
Restructuring charges | 7,215 | 314 | |||
General and Administrative [Member] | |||||
Restructuring Cost and Reserve [Line Items] | |||||
Restructuring charges | 1,240 | $ 501 | |||
First quarter 2017 restructuring [Member] | |||||
Restructuring Cost and Reserve [Line Items] | |||||
Restructuring charges | $ 23,100 | ||||
Restructuring charges | (73) | ||||
Restructuring Reserve | $ 2,661 | 2,661 | $ 4,470 | ||
Other Restructuring Costs | (73) | ||||
Cash paid | (1,736) | ||||
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 Reserve | 0 | 0 | 0 | ||
Severance Costs | $ 10,300 | 0 | |||
Cash paid | 0 | ||||
First quarter 2017 restructuring [Member] | Other Restructuring [Member] | |||||
Restructuring Cost and Reserve [Line Items] | |||||
Restructuring Reserve | 2,661 | 2,661 | 4,470 | ||
Cash paid | (1,736) | ||||
Second quarter 2020 restructuring [Member] | |||||
Restructuring Cost and Reserve [Line Items] | |||||
Restructuring charges | 11,500 | ||||
Restructuring charges | 11,492 | ||||
Restructuring Reserve | 1,548 | 1,548 | 0 | ||
Other Restructuring Costs | 3,584 | ||||
Cash paid | (6,648) | ||||
Restructuring Reserve, Settled without Cash | (3,296) | ||||
Second quarter 2020 restructuring [Member] | Non-cancelable Leases, Accelerated Depreciation and Other Charges [Member] | |||||
Restructuring Cost and Reserve [Line Items] | |||||
Restructuring charges | 3,600 | ||||
Second quarter 2020 restructuring [Member] | Employee Severance [Member] | |||||
Restructuring Cost and Reserve [Line Items] | |||||
Restructuring Reserve | 1,548 | 1,548 | 0 | ||
Severance Costs | 7,900 | 7,908 | |||
Cash paid | (6,360) | ||||
Restructuring Reserve, Settled without Cash | 0 | ||||
Second quarter 2020 restructuring [Member] | Other Restructuring [Member] | |||||
Restructuring Cost and Reserve [Line Items] | |||||
Restructuring Reserve | $ 0 | 0 | $ 0 | ||
Cash paid | (288) | ||||
Restructuring Reserve, Settled without Cash | $ (3,296) |
Restructuring charges (Details)
Restructuring charges (Details) - USD ($) $ in Thousands | Apr. 14, 2020 | Mar. 15, 2017 | Jun. 30, 2020 | Jun. 30, 2017 | Jun. 30, 2020 | Jun. 30, 2019 |
Restructuring Cost and Reserve [Line Items] | ||||||
Restructuring charges | $ 11,287 | $ 1,425 | ||||
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 | (73) | |||||
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 | ||||
Second quarter 2020 restructuring [Member] | ||||||
Restructuring Cost and Reserve [Line Items] | ||||||
Expected percent of positions eliminated | 20.00% | |||||
Restructuring charges | $ 11,500 | |||||
Other Restructuring Costs | 3,584 | |||||
Second quarter 2020 restructuring [Member] | Non-cancelable Leases, Accelerated Depreciation and Other Charges [Member] | ||||||
Restructuring Cost and Reserve [Line Items] | ||||||
Restructuring charges | 3,600 | |||||
Second quarter 2020 restructuring [Member] | Employee Severance and Pay Related Costs [Member] | ||||||
Restructuring Cost and Reserve [Line Items] | ||||||
Severance Costs | $ 7,900 | $ 7,908 |
Restructuring charges - Restr_2
Restructuring charges - Restructuring Liability (Details) - First quarter 2017 restructuring [Member] - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended |
Jun. 30, 2017 | Jun. 30, 2020 | |
Restructuring Cost and Reserve [Line Items] | ||
Other Restructuring Costs | $ (73) | |
Restructuring Reserve [Roll Forward] | ||
Restructuring liability as of October 1, 2016 | 4,470 | |
Restructuring charges | (73) | |
Cash paid | (1,736) | |
Restructuring liability as of December 31, 2017 | 2,661 | |
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 | |
Cash paid | 0 | |
Restructuring liability as of December 31, 2017 | 0 | |
Other Restructuring [Member] | ||
Restructuring Reserve [Roll Forward] | ||
Restructuring liability as of October 1, 2016 | 4,470 | |
Cash paid | (1,736) | |
Restructuring liability as of December 31, 2017 | $ 2,661 |
Subsequent Events (Details)
Subsequent Events (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |
Sep. 30, 2020 | Jun. 30, 2020 | Jun. 30, 2019 | |
Subsequent Event [Line Items] | |||
Restructuring charges | $ 11,287 | $ 1,425 | |
Subsequent Event [Member] | Minimum [Member] | |||
Subsequent Event [Line Items] | |||
Restructuring charges | $ 31,000 | ||
Restructuring Costs and Asset Impairment Charges | 26,000 | ||
Subsequent Event [Member] | Maximum [Member] | |||
Subsequent Event [Line Items] | |||
Restructuring charges | 49,000 | ||
Restructuring Costs and Asset Impairment Charges | 44,000 | ||
Subsequent Event [Member] | Employee Severance [Member] | |||
Subsequent Event [Line Items] | |||
Severance Costs | 5,000 | ||
Subsequent Event [Member] | Leasehold Improvements [Member] | |||
Subsequent Event [Line Items] | |||
Restructuring charges | 4,000 | ||
Subsequent Event [Member] | point of purchase (POP) Displays [Domain] | |||
Subsequent Event [Line Items] | |||
Restructuring charges | $ 5,000 |