We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type |
---|---|---|---|
Care com Inc | NYSE:CRCM | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 15.00 | 0 | 01:00:00 |
|
|
|
|
Form 10-K
|
|
[x]
|
ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|
[ ]
|
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|
|
||
|
Care.com, Inc.
|
|
(Exact name of registrant as specified in its charter)
|
Delaware
|
20-578-5879
|
(State or other jurisdiction of
incorporation or organization)
|
(I.R.S. Employer
Identification Number)
|
77 Fourth Avenue, Fifth Floor
Waltham, MA
|
02451
|
(Address of principal executive offices)
|
(Zip Code)
|
Title of each class
|
|
Name of exchange on which registered
|
Common Stock, par value $0.001
|
|
The New York Stock Exchange
|
Securities registered pursuant to Section 12(g) of the Act:
|
||
|
None
|
|
Large accelerated filer
|
[ ]
|
|
Accelerated filer
|
[X]
|
Non-accelerated filer
|
[ ]
|
(Do not check if a smaller reporting company)
|
Smaller reporting company
|
[ ]
|
|
|
|
Emerging growth company
|
[X]
|
Portions of the Registrant’s proxy statement for its 2018 Annual Meeting of Stockholders are incorporated by reference into Part III herein. Such proxy statement will be filed with the Securities and Exchange Commission no later than 120 days after the end of the Registrant’s fiscal year ended December 30, 2017.
|
•
|
A college student helping to pay tuition by watching a 7 and 10-year old and assisting with after-school pick-ups, driving to activities, homework and meal preparation;
|
•
|
A retired nurse to drive an aging parent to routine medical appointments and assist with personal hygiene; and
|
•
|
A pet lover to take the family dog for her daily walk and care for her during family vacations.
|
•
|
Significant percentage of dual-income and single-parent households with children;
|
•
|
Consumers increasingly using the internet and mobile devices for important and highly personal decisions and transactions.
|
•
|
Comprehensive solutions.
We are the largest online marketplace for finding and managing family care. Through our platform, families have access to a broad range of solutions to address their diverse and evolving care needs, including childcare, housekeeping, pet care, senior care and tutoring. In addition, families can use our solutions for back-up care when primary care arrangements fall through. Similarly, caregivers can apply to jobs in any category of care posted by families or by care-related businesses.
|
•
|
Efficient and reliable way for families to find quality caregivers.
Our members have access to easy-to-use job posting tools, powerful search features and detailed caregiver profiles that are designed to allow them to efficiently navigate our
|
•
|
Efficient way for caregivers to target large, qualified audiences and professionalize their careers.
Caregivers can easily create detailed profiles that include work history, education, credentials, reviews, social connections, third-party background check results and information about the specific care services they provide. In addition, we provide caregivers with services, educational resources and content to professionalize and manage their careers, as well as the opportunity to establish their professional reputation and enhance their profile through the reviews and ratings they receive from families.
|
•
|
Cost-effective alternative.
Families are provided access to search, post a job and preview detailed caregiver profiles. After an initial review of profiles, families have the option of selecting from a variety of affordable subscription plans to contact caregivers and access background checks. These subscriptions allow families to contact caregivers through our platform during the term of the subscription, including nannies, babysitters, pet sitters and tutors. Our caregiver members can apply to jobs through our platform and target families and care-related businesses. Caregivers have the option to pay for additional features such as priority notification of newly posted jobs. We are testing additional pricing and packaging offerings for families and caregivers that are designed to better meet the needs of the various segments that use Care.com and further monetize our services.
|
•
|
Secure access anytime, anywhere.
We provide a cross-platform suite of communication tools to enable easy and efficient communication between families and caregivers. Our services are available across multiple platforms and mobile devices to ensure that our members access Care.com easily and conveniently wherever they go. We provide our services through mobile apps on iOS and Android devices. We also make our website experience available on personal computers and mobile web browsers. Across these platforms, members are able to access our features for finding care and jobs and for paying caregivers.
|
•
|
Job Posting.
Families quickly and easily post a detailed job description specifying their care need (e.g., nanny, babysitter, senior care support, tutor, housekeeper, pet sitter, etc.), the frequency, hourly rate, responsibilities and other requirements for the job and any other relevant information they choose to provide.
|
•
|
Search.
Families search for potential caregivers based on specific search criteria such as type of care provided, location, hourly rate, whether the caregiver has their own transportation or smokes, comfort with pets and willingness to accept non-cash payments and/or have taxes withheld. The initial search results are based on an algorithm we designed to highlight the most relevant caregivers, but a family can also sort the search results by additional criteria, such as distance from the family, experience, availability, membership length or age.
|
•
|
Detailed Caregiver Profiles.
Families review detailed information about the caregivers who apply to their jobs or appear in their search results. This detailed information includes a bio, work history, the type of care they provide, any additional services they provide (such as laundry, grocery shopping and errands), their experience, certifications and qualifications (such as college degree and CPR training or other languages spoken), their availability and hourly rate, the types of payments they accept, whether they are willing to have taxes withheld, caregiver reviews from other members, a caregiver’s verifications, any shared social connections, and any other relevant information the caregiver chooses to provide. Caregivers also have the option of including a photo or a video with their profile.
|
•
|
Messaging.
Members may use our messaging system to contact caregivers who have applied to their jobs or appeared in their search results. Because this messaging system is internal to Care.com, members do not have to disclose personal contact or other information to communicate through this system. When a family sends a message to a caregiver through our messaging system, we also send an email to the caregiver’s personal email and an alert to their mobile device (if they have installed our mobile app) to notify them that a family has sent them a message.
|
•
|
Background Check Services.
We currently offer multiple levels of background checks from consumer credit reporting agencies that families may request on caregivers they are interested in hiring. Caregivers must accept the background checks request from a family before the background check is performed.
|
•
|
Profile.
Caregivers create and post detailed profiles that include their bio, work history and reviews, the type of care they provide, any additional services they provide (such as laundry, grocery shopping and errands), their experience, certifications and qualifications (such as college degree and CPR training or other languages spoken), their availability and hourly rate, the types of payments they accept, whether they are willing to have taxes withheld and any other relevant information they choose to provide. To build their credibility with families, caregivers may elect to verify their phone number and email addresses with us and connect to other members. Caregivers also have the option of including a photo or a video with their profile.
|
•
|
Search.
Caregivers search for specific jobs posted by families, as well as for families based on specific search criteria such as type of care needed, location, hourly rate and number and age of children.
|
•
|
Apply.
Caregivers can review and apply to jobs that interest them. When a caregiver applies to a job, the family is notified of the new applicant by email, SMS text message or a mobile alert.
|
•
|
Messaging.
Caregivers can respond to messages from families using our internal messaging system. Based on the caregiver’s subscription package, the caregiver may also initiate contact with a family.
|
•
|
Background Check Services.
Caregivers may elect to have a background check run on themselves. We currently offer multiple levels of background checks from consumer credit reporting agencies that caregivers may request on themselves.
|
•
|
Mobile Apps.
Families and caregivers can download our free mobile apps for iOS and Android. These apps provide families and caregivers the same job posting, profile creation, search and messaging features described above.
|
•
|
Safety Center.
Our service features a safety center that provides resources and information designed to help families and caregivers make safer and more informed hiring and job selection decisions, including recommendations to families for screening, interviewing and ongoing monitoring of caregivers and recommendations to caregivers for avoiding scams. Members may also contact our member care department directly by phone or email if they have concerns about other members. We also offer an online tool that allows families and caregivers to report other members.
|
•
|
Email Notifications.
Families may receive weekly emails highlighting new caregivers near them, and caregivers may receive daily emails notifying them of new jobs in their area. We send families and caregivers additional email communications to help them maximize their use of our consumer matching solutions and to inform them of additional products or services that may be appropriate for them.
|
•
|
Access to professional benefits for caregivers.
We provide a peer-to-peer benefits platform between families and caregivers, which enables families to contribute to their caregiver’s benefits just as traditional corporate employers do for their employees. When a family pays a caregiver through Care.com, a percentage of the transaction is added to the payment to fund the Care.com Benefits program, which helps the caregiver pay for essential family expenses, such as healthcare and transportation. These contributions are pooled with others from household employers paying that caregiver through Care.com. From the program, caregivers receive Care Benefit Bucks, which provide access to benefits that are portable – staying with the care worker even if she changes jobs working for numerous families on Care.com.
|
•
|
Household Employer Payroll and Tax Services.
Care.com HomePay is our payroll and tax product for families that employ nannies, housekeepers or other domestic employees. Care.com HomePay is a technology-based, turnkey service that includes automated payroll processing and household employer-related tax filings at the federal, state and local levels. In addition, caregivers who are paid through Care.com HomePay may qualify for important benefits such as unemployment insurance and social security. For household employers who only require an automated payroll processing solution, we offer this service separately. In the future, we intend to offer additional payroll and tax services at tiered feature and pricing levels to address a range of market needs. These products are available to anyone, not just paying members of our consumer matching solutions.
|
•
|
Peer-to-peer Payments.
This offering enables families to make electronic payments to their caregivers using our website or mobile apps. This solution is particularly applicable for families who pay their caregivers at irregular intervals, such as babysitters, after-school caregivers or tutors, or in varying amounts each time services are performed.
|
•
|
Our consumer matching solutions;
|
•
|
Back-up care services for employees needing alternative care arrangements for their child or senior due to events such as school closure or the illness of their child or regular caregiver;
|
•
|
Care concierge services, which include senior care planning services to assist employees struggling to understand their options for an aging family member as well as hands-on assistance with the caregiver search process; and
|
•
|
Our consumer payment solutions.
|
•
|
Recruiting Solutions.
Through this offering, businesses can either post jobs or search for candidates directly from our base of caregivers. Businesses pay us either a per job listing fee for each job posted each month or obtain a subscription fee that ranges in duration from monthly to annual.
|
•
|
Marketing Solutions.
Through this offering, businesses can list their services on our website, receive referrals and apply to jobs posted by families. Businesses typically pay us either a referral fee for each lead generated through our site or a subscription that ranges in duration from three months to annual.
|
•
|
Powerful Search and Ranking.
Our search technology has been designed to handle rapid and continuous growth in search queries and members. Our technology enables families and caregivers to run faceted and free-form search queries and receive results ranked by relevance using our sorting algorithm. Members can run searches based on a variety of parameters, including location, type of care, hours of availability and hourly rate.
|
•
|
Targeting.
We employ statistical models and algorithms to ensure that we are managing the efficiency of our marketplace and optimizing the experience for both families and caregivers. These models are used to improve our customer acquisition efforts as well as our product experience and leverage our rich and growing data set. For example, we prioritize the order in which caregivers are presented to a family to give more prominence to caregivers we believe are more appropriate for the family based on their profile, job postings, and/or usage of our services. Similarly, we present caregivers with job opportunities that we feel are best suited to their qualifications and interests. We also employ targeting technology to personalize the content that we display for members as they use our website and mobile apps. We refine the techniques we use for targeting on an ongoing basis.
|
•
|
Mobile Solutions.
We offer mobile apps designed specifically for the iOS and Android operating systems. In addition, we also provide a mobile optimized website. These mobile solutions are built on an interface layer that exposes the core features of our service. We use the same interface layer across all of our mobile solutions and believe this architecture will allow us to easily expand our services to new devices and mobile platforms in the future.
|
•
|
Testing and Optimization.
We have developed a solution for testing and optimizing the user experience and member engagement on our websites and in our email communications. This solution allows us to run multiple variations of a service feature or email tactic simultaneously and is supported by robust data collection and reporting. Based on our
|
•
|
Infrastructure Management.
We have developed a proprietary suite of tools for managing, administering and monitoring our production website and mobile app platforms. These tools are used to streamline the deployment of releases and to help ensure high availability of our consumer-facing service.
|
•
|
the timing of revenue recognition as a result of guidance under accounting principles generally accepted in the United States;
|
•
|
the mix of monthly memberships and annual memberships, as the amount of revenue recognized per month on an annual membership is less than a monthly membership;
|
•
|
costs related to acquisitions of other businesses and our ability to successfully integrate, manage and grow those businesses;
|
•
|
costs associated with actual and threatened lawsuits and government investigations;
|
•
|
any significant changes in the competitive dynamics of our markets, including new entrants or substantial discounting of products;
|
•
|
any decision to increase or decrease operating expenses in response to changes in the marketplace or perceived marketplace opportunities;
|
•
|
unpredictable fluctuations in our effective tax rate due to disqualifying dispositions of stock from our stock incentive plan, changes in the valuation of our deferred tax assets or liabilities, changes in actual results versus our estimates or changes in tax laws, regulations, accounting principles or interpretations thereof.
|
•
|
cross-sell our products and services to our new and existing members;
|
•
|
continue to develop and diversify our product offerings for members;
|
•
|
innovate ahead of competition to maintain and expand our market leading position;
|
•
|
anticipate and react to changes in technology such as the shift from personal computers to mobile devices;
|
•
|
difficulties in integrating and managing the combined operations, technologies, technology platforms and products of the acquired companies and realizing the anticipated economic, operational and other benefits in a timely manner, which could result in substantial costs and delays or other operational, technical or financial problems;
|
•
|
legal or regulatory challenges or litigation post-acquisition, which could result in significant costs or require changes to the businesses or unwinding of the transaction;
|
•
|
failure of the acquired company to achieve anticipated revenue, earnings or cash flow;
|
•
|
diversion of management’s attention or other resources from our existing business;
|
•
|
our inability to maintain the key customers and business relationships and the reputations of acquired businesses;
|
•
|
uncertainty of entry into markets in which we have limited or no prior experience or in which competitors have stronger market positions;
|
•
|
our dependence on unfamiliar affiliates and partners of acquired businesses;
|
•
|
unanticipated costs associated with pursuing acquisitions;
|
•
|
responsibility for the liabilities of acquired businesses, whether such liabilities were disclosed to us or not prior to our acquisition and whether such liabilities meet or exceed our estimates, including, without limitation liabilities arising out of the acquired business’s failure to maintain effective data protection and privacy controls and comply with applicable regulations;
|
•
|
difficulties in assigning or transferring intellectual property licensed by acquired companies from third parties to us or our subsidiaries;
|
•
|
potential loss of key employees of the acquired companies;
|
•
|
challenges in integrating and auditing the financial statements of acquired companies that have not historically prepared financial statements in accordance with U.S. generally accepted accounting principles;
|
•
|
difficulties in integrating acquired companies’ systems controls, policies and procedures to comply with the internal control over financial reporting requirements of the Sarbanes-Oxley Act of 2002; and
|
•
|
potential accounting charges to the extent intangibles recorded in connection with an acquisition, such as goodwill, trademarks, customer relationships or intellectual property, are later determined to be impaired and written down in value.
|
•
|
providing products and services across a significant distance, in different languages and among different cultures, including potentially modifying our solutions and features to ensure that they are culturally relevant in different countries;
|
•
|
compliance with applicable foreign laws and regulations, which, in certain areas such as privacy and data protection, may be more restrictive than U.S. laws and regulations;
|
•
|
compliance with anti-bribery laws, including without limitation compliance with the Foreign Corrupt Practices Act and the United Kingdom Bribery Act;
|
•
|
changes in tax laws and regulations, including changes in taxation of the services provided by our foreign subsidiaries.
|
•
|
publication of research reports about us or our industry or changes in recommendations or withdrawal of research coverage by securities analysts;
|
•
|
authorizing blank check preferred stock, which could be issued with voting, liquidation, dividend and other rights superior to our common stock;
|
•
|
limiting the liability of, and providing indemnification to, our directors and officers;
|
•
|
limiting the ability of our stockholders to call and bring business before special meetings and to take action by written consent in lieu of a meeting;
|
•
|
requiring advance notice of stockholder proposals for business to be conducted at meetings of our stockholders and for nominations of candidates for election to our board of directors;
|
•
|
controlling the procedures for the conduct and scheduling of board of directors and stockholder meetings;
|
•
|
providing our board of directors with the express power to postpone previously scheduled annual meetings and to cancel previously scheduled special meetings;
|
•
|
establishing a classified board of directors so that not all members of our board are elected at one time;
|
•
|
limiting the determination of the number of directors on our board of directors and the filling of vacancies or newly created seats on the board to our board of directors then in office; and
|
•
|
providing that directors may be removed by stockholders only for cause.
|
ITEM 5.
|
MARKET FOR REGISTRANT'S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES
|
|
Fiscal 2017
|
|
Fiscal 2016
|
||||||||||||
|
High
|
|
Low
|
|
High
|
|
Low
|
||||||||
First Quarter
|
$
|
12.97
|
|
|
$
|
8.05
|
|
|
$
|
7.46
|
|
|
$
|
4.90
|
|
Second Quarter
|
$
|
16.07
|
|
|
$
|
11.26
|
|
|
$
|
9.49
|
|
|
$
|
5.78
|
|
Third Quarter
|
$
|
16.50
|
|
|
$
|
12.80
|
|
|
$
|
12.00
|
|
|
$
|
8.11
|
|
Fourth Quarter
|
$
|
20.88
|
|
|
$
|
14.37
|
|
|
$
|
10.45
|
|
|
$
|
7.51
|
|
|
Fiscal Year Ended
|
||||||||||||||||||
|
December 30, 2017
|
|
December 31, 2016
|
|
December 26, 2015
|
|
December 27, 2014
(1)
|
|
December 28, 2013
|
||||||||||
|
|
|
|
|
|
|
|
|
|
||||||||||
Revenue
|
$
|
174,090
|
|
|
$
|
161,754
|
|
|
$
|
138,681
|
|
|
$
|
110,712
|
|
|
$
|
81,487
|
|
Cost of revenue
|
35,773
|
|
|
31,830
|
|
|
26,117
|
|
|
23,464
|
|
|
18,844
|
|
|||||
Operating expenses:
|
|
|
|
|
|
|
|
|
|
||||||||||
Selling and marketing
|
66,906
|
|
|
72,266
|
|
|
73,521
|
|
|
73,799
|
|
|
55,250
|
|
|||||
Research and development
|
25,423
|
|
|
20,402
|
|
|
19,801
|
|
|
16,216
|
|
|
11,816
|
|
|||||
General and administrative
|
35,214
|
|
|
31,939
|
|
|
30,158
|
|
|
27,325
|
|
|
18,841
|
|
|||||
Depreciation and amortization
|
1,684
|
|
|
2,972
|
|
|
4,503
|
|
|
4,363
|
|
|
4,387
|
|
|||||
Restructuring charges
|
3,136
|
|
|
714
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|||||
Total operating expenses
|
132,363
|
|
|
128,293
|
|
|
127,983
|
|
|
121,703
|
|
|
90,294
|
|
|||||
Operating income (loss)
|
5,954
|
|
|
1,631
|
|
|
(15,419
|
)
|
|
(34,455
|
)
|
|
(27,651
|
)
|
|||||
Other income (expense), net
|
2,203
|
|
|
(1,064
|
)
|
|
(1,239
|
)
|
|
(3,856
|
)
|
|
(291
|
)
|
|||||
Income (loss) from continuing operations before income taxes
|
8,157
|
|
|
567
|
|
|
(16,658
|
)
|
|
(38,311
|
)
|
|
(27,942
|
)
|
|||||
(Benefit from) provision for income taxes
|
(2,506
|
)
|
|
1,282
|
|
|
1,221
|
|
|
(752
|
)
|
|
354
|
|
|||||
Income (loss) from continuing operations
|
10,663
|
|
|
(715
|
)
|
|
(17,879
|
)
|
|
(37,559
|
)
|
|
(28,296
|
)
|
|||||
Income (loss) from discontinued operations, net of tax
|
—
|
|
|
7,761
|
|
|
(17,116
|
)
|
|
(42,733
|
)
|
|
—
|
|
|||||
Net income (loss)
|
10,663
|
|
|
7,046
|
|
|
(34,995
|
)
|
|
(80,292
|
)
|
|
(28,296
|
)
|
|||||
Accretion of preferred stock
|
—
|
|
|
—
|
|
|
—
|
|
|
(4
|
)
|
|
(57
|
)
|
|||||
Accretion of Series A Redeemable Convertible Preferred Stock dividends
|
(2,599
|
)
|
|
(1,310
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|||||
Accretion of Series A Redeemable Convertible Preferred Stock issuance costs
|
—
|
|
|
(2,124
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
As of
|
||||||||||||||||||
|
December 30, 2017
|
|
December 31, 2016
|
|
December 26, 2015
|
|
December 27, 2014
|
|
December 28, 2013
|
||||||||||
Consolidated Balance Sheet Data:
|
|
|
|
|
|
|
|
|
|
||||||||||
Cash and cash equivalents
|
$
|
86,728
|
|
|
$
|
61,094
|
|
|
$
|
61,240
|
|
|
$
|
71,881
|
|
|
$
|
29,959
|
|
Working capital
|
79,651
|
|
|
56,959
|
|
|
24,060
|
|
|
43,834
|
|
|
13,201
|
|
|||||
Total assets
|
184,376
|
|
|
155,224
|
|
|
142,478
|
|
|
173,104
|
|
|
113,829
|
|
|||||
Total deferred revenue
|
18,626
|
|
|
15,971
|
|
|
13,435
|
|
|
11,472
|
|
|
8,304
|
|
|||||
Total non-current liabilities
|
7,071
|
|
|
9,363
|
|
|
7,306
|
|
|
12,828
|
|
|
7,063
|
|
|||||
Series A Redeemable Convertible Preferred Stock
|
50,259
|
|
|
47,660
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|||||
Redeemable convertible preferred stock
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
152,194
|
|
|||||
Total stockholders' equity (deficit)
|
89,461
|
|
|
66,949
|
|
|
88,252
|
|
|
118,050
|
|
|
(68,306
|
)
|
|
Fiscal Year Ended
|
||||||||||
|
December 30, 2017
|
|
December 31, 2016
|
|
December 26, 2015
|
||||||
Net income (loss) from continuing operations
|
$
|
10,663
|
|
|
$
|
(715
|
)
|
|
$
|
(17,879
|
)
|
|
|
|
|
|
|
||||||
Federal, state and franchise taxes
|
(2,228
|
)
|
|
1,619
|
|
|
1,411
|
|
|||
Other (income) expense, net
|
(2,203
|
)
|
|
1,064
|
|
|
1,239
|
|
|||
Depreciation and amortization
|
2,240
|
|
|
3,722
|
|
|
5,218
|
|
|||
EBITDA
|
8,472
|
|
|
5,690
|
|
|
(10,011
|
)
|
|||
|
|
|
|
|
|
||||||
Stock-based compensation
|
9,693
|
|
|
6,470
|
|
|
4,926
|
|
|||
Merger and acquisition related costs
|
407
|
|
|
128
|
|
|
53
|
|
|||
Restructuring related costs
|
3,136
|
|
|
714
|
|
|
—
|
|
|||
Litigation related costs
|
636
|
|
|
400
|
|
|
—
|
|
|||
Software implementation costs
|
471
|
|
|
—
|
|
|
—
|
|
|||
Severance related costs
|
487
|
|
|
—
|
|
|
—
|
|
|||
Adjusted EBITDA
|
$
|
23,302
|
|
|
$
|
13,402
|
|
|
$
|
(5,032
|
)
|
ITEM 7.
|
MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
|
|
Fiscal Year Ended
|
||||||||||
|
December 30, 2017
|
|
December 31, 2016
|
|
December 26, 2015
|
||||||
Total members
|
27,312
|
|
|
22,826
|
|
|
18,377
|
|
|||
Total families
|
15,510
|
|
|
12,900
|
|
|
10,265
|
|
|||
Total caregivers
|
11,802
|
|
|
9,926
|
|
|
8,112
|
|
|||
Paying families - U.S. Consumer Business
|
302
|
|
|
274
|
|
|
266
|
|
|||
Monthly average revenue per paying family - U.S. Consumer Business
|
$
|
40
|
|
|
$
|
40
|
|
|
$
|
39
|
|
|
Fiscal Year Ended
|
||||||||||
|
December 30, 2017
|
|
December 31, 2016
|
|
December 26, 2015
|
||||||
|
|
|
|
|
|
||||||
Revenue
|
$
|
174,090
|
|
|
$
|
161,754
|
|
|
$
|
138,681
|
|
Cost of revenue
|
35,773
|
|
|
31,830
|
|
|
26,117
|
|
|||
Operating expenses:
|
|
|
|
|
|
||||||
Selling and marketing
|
66,906
|
|
|
72,266
|
|
|
73,521
|
|
|||
Research and development
|
25,423
|
|
|
20,402
|
|
|
19,801
|
|
|||
General and administrative
|
35,214
|
|
|
31,939
|
|
|
30,158
|
|
|||
Depreciation and amortization
|
1,684
|
|
|
2,972
|
|
|
4,503
|
|
|||
Restructuring charges
|
3,136
|
|
|
714
|
|
|
—
|
|
|||
Total operating expenses
|
132,363
|
|
|
128,293
|
|
|
127,983
|
|
|||
Operating income (loss)
|
5,954
|
|
|
1,631
|
|
|
(15,419
|
)
|
|||
Other income (expense), net
|
2,203
|
|
|
(1,064
|
)
|
|
(1,239
|
)
|
|||
Income (loss) from continuing operations before income taxes
|
8,157
|
|
|
567
|
|
|
(16,658
|
)
|
|||
(Benefit from) provision for income taxes
|
(2,506
|
)
|
|
1,282
|
|
|
1,221
|
|
|||
Income (loss) from continuing operations
|
10,663
|
|
|
(715
|
)
|
|
(17,879
|
)
|
|||
Income (loss) from discontinued operations, net of tax
|
—
|
|
|
7,761
|
|
|
(17,116
|
)
|
|||
Net income (loss)
|
10,663
|
|
|
7,046
|
|
|
(34,995
|
)
|
|||
Accretion of Series A Redeemable Convertible Preferred Stock dividends
|
(2,599
|
)
|
|
(1,310
|
)
|
|
—
|
|
|||
Accretion of Series A Redeemable Convertible Preferred Stock issuance costs
|
—
|
|
|
(2,124
|
)
|
|
—
|
|
|||
Net income attributable to Series A Redeemable Convertible Preferred Stock
|
(1,120
|
)
|
|
(467
|
)
|
|
—
|
|
|||
Net income (loss) attributable to common stockholders
|
$
|
6,944
|
|
|
$
|
3,145
|
|
|
$
|
(34,995
|
)
|
|
|
|
|
|
|
||||||
Net income (loss) per share attributable to common stockholders (Basic):
|
|
|
|
|
|
||||||
Income (loss) per share from continuing operations attributable to common stockholders
|
$
|
0.23
|
|
|
$
|
(0.12
|
)
|
|
$
|
(0.56
|
)
|
Income (loss) per share from discontinued operations attributable to common stockholders
|
—
|
|
|
0.22
|
|
|
(0.53
|
)
|
Net income (loss) per share attributable to common stockholders
|
$
|
0.23
|
|
|
$
|
0.10
|
|
|
$
|
(1.09
|
)
|
|
|
|
|
|
|
||||||
Net income (loss) per share attributable to common stockholders (Diluted):
|
|
|
|
|
|
||||||
Income (loss) per share from continuing operations attributable to common stockholders
|
$
|
0.22
|
|
|
$
|
(0.12
|
)
|
|
$
|
(0.56
|
)
|
Income (loss) per share from discontinued operations attributable to common stockholders
|
—
|
|
|
0.22
|
|
|
(0.53
|
)
|
|||
Net income (loss) per share attributable to common stockholders
|
$
|
0.22
|
|
|
$
|
0.10
|
|
|
$
|
(1.09
|
)
|
|
|
|
|
|
|
||||||
Weighted-average shares used to compute net income (loss) per share attributable to common stockholders:
|
|
|
|
|
|
||||||
Basic
|
29,680
|
|
|
30,535
|
|
|
32,001
|
|
|||
Diluted
|
32,406
|
|
|
30,535
|
|
|
32,001
|
|
|
Fiscal Year Ended
|
||||||||||
|
December 30, 2017
|
|
December 31, 2016
|
|
December 26, 2015
|
||||||
Cost of revenue
|
$
|
396
|
|
|
$
|
316
|
|
|
$
|
236
|
|
Selling and marketing
|
1,216
|
|
|
898
|
|
|
813
|
|
|||
Research and development
|
1,771
|
|
|
1,103
|
|
|
760
|
|
|||
General and administrative
|
6,310
|
|
|
4,153
|
|
|
3,116
|
|
|||
Income (loss) from discontinued operations
|
—
|
|
|
14
|
|
|
589
|
|
|
Fiscal Year Ended
|
|||||||
|
December 30, 2017
|
|
December 31, 2016
|
|
December 26, 2015
|
|||
|
|
|
|
|
|
|||
Revenue
|
100
|
%
|
|
100
|
%
|
|
100
|
%
|
Cost of revenue
|
21
|
%
|
|
20
|
%
|
|
19
|
%
|
Operating expenses:
|
|
|
|
|
|
|||
Selling and marketing
|
38
|
%
|
|
45
|
%
|
|
53
|
%
|
Research and development
|
15
|
%
|
|
13
|
%
|
|
14
|
%
|
General and administrative
|
20
|
%
|
|
20
|
%
|
|
22
|
%
|
Depreciation and amortization
|
1
|
%
|
|
2
|
%
|
|
3
|
%
|
Restructuring charges
|
2
|
%
|
|
—
|
%
|
|
—
|
%
|
Total operating expenses
|
76
|
%
|
|
79
|
%
|
|
92
|
%
|
Operating income (loss)
|
3
|
%
|
|
1
|
%
|
|
(11
|
)%
|
Other income (expense), net
|
1
|
%
|
|
(1
|
)%
|
|
(1
|
)%
|
Income (loss) from continuing operations before income taxes
|
5
|
%
|
|
—
|
%
|
|
(12
|
)%
|
(Benefit from) provision for income taxes
|
(1
|
)%
|
|
1
|
%
|
|
1
|
%
|
Income (loss) from continuing operations
|
6
|
%
|
|
—
|
%
|
|
(13
|
)%
|
Income (loss) from discontinued operations, net of tax
|
—
|
%
|
|
5
|
%
|
|
(12
|
)%
|
Net income (loss)
|
6
|
%
|
|
4
|
%
|
|
(25
|
)%
|
Accretion of Series A Redeemable Convertible Preferred Stock dividends
|
(1
|
)%
|
|
(1
|
)%
|
|
—
|
%
|
Accretion of Series A Redeemable Convertible Preferred Stock issuance costs
|
—
|
%
|
|
(1
|
)%
|
|
—
|
%
|
Net income attributable to Series A Redeemable Convertible Preferred Stock
|
(1
|
)%
|
|
—
|
%
|
|
—
|
%
|
Net income (loss) attributable to common stockholders
|
4
|
%
|
|
2
|
%
|
|
(25
|
)%
|
|
Fiscal Year Ended
|
|
Fiscal 2017 Compared to Fiscal 2016
|
|
Fiscal 2016 Compared to Fiscal 2015
|
||||||||||||||||||||
|
December 30, 2017
|
|
December 31, 2016
|
|
December 26, 2015
|
|
$ Change
|
|
% Change
|
|
$ Change
|
|
% Change
|
||||||||||||
|
(in thousands, except percentages)
|
||||||||||||||||||||||||
Revenue
|
$
|
174,090
|
|
|
$
|
161,754
|
|
|
$
|
138,681
|
|
|
$
|
12,336
|
|
|
8
|
%
|
|
$
|
23,073
|
|
|
17
|
%
|
|
Fiscal Year Ended
|
|
Fiscal 2017 Compared to Fiscal 2016
|
|
Fiscal 2016 Compared to Fiscal 2015
|
||||||||||||||||||||
|
December 30, 2017
|
|
December 31, 2016
|
|
December 26, 2015
|
|
$ Change
|
|
% Change
|
|
$ Change
|
|
% Change
|
||||||||||||
|
(in thousands, except percentages)
|
||||||||||||||||||||||||
Cost of revenue
|
$
|
35,773
|
|
|
$
|
31,830
|
|
|
$
|
26,117
|
|
|
$
|
3,943
|
|
|
12
|
%
|
|
$
|
5,713
|
|
|
22
|
%
|
Percentage of revenue
|
21
|
%
|
|
20
|
%
|
|
19
|
%
|
|
|
|
|
|
|
|
|
|
Fiscal Year Ended
|
|
Fiscal 2017 Compared to Fiscal 2016
|
|
Fiscal 2016 Compared to Fiscal 2015
|
||||||||||||||||||||
|
December 30, 2017
|
|
December 31, 2016
|
|
December 26, 2015
|
|
$ Change
|
|
% Change
|
|
$ Change
|
|
% Change
|
||||||||||||
|
(in thousands, except percentages)
|
||||||||||||||||||||||||
Selling and marketing
|
$
|
66,906
|
|
|
$
|
72,266
|
|
|
$
|
73,521
|
|
|
$
|
(5,360
|
)
|
|
(7
|
)%
|
|
$
|
(1,255
|
)
|
|
(2
|
)%
|
Percentage of revenue
|
38
|
%
|
|
45
|
%
|
|
53
|
%
|
|
|
|
|
|
|
|
|
|
Fiscal Year Ended
|
|
Fiscal 2017 Compared to Fiscal 2016
|
|
Fiscal 2016 Compared to Fiscal 2015
|
||||||||||||||||||||
|
December 30, 2017
|
|
December 31, 2016
|
|
December 26, 2015
|
|
$ Change
|
|
% Change
|
|
$ Change
|
|
% Change
|
||||||||||||
|
(in thousands, except percentages)
|
||||||||||||||||||||||||
Research and development
|
$
|
25,423
|
|
|
$
|
20,402
|
|
|
$
|
19,801
|
|
|
$
|
5,021
|
|
|
25
|
%
|
|
$
|
601
|
|
|
3
|
%
|
Percentage of revenue
|
15
|
%
|
|
13
|
%
|
|
14
|
%
|
|
|
|
|
|
|
|
|
|
Fiscal Year Ended
|
|
Fiscal 2017 Compared to Fiscal 2016
|
|
Fiscal 2016 Compared to Fiscal 2015
|
||||||||||||||||||||
|
December 30, 2017
|
|
December 31, 2016
|
|
December 26, 2015
|
|
$ Change
|
|
% Change
|
|
$ Change
|
|
% Change
|
||||||||||||
|
(in thousands, except percentages)
|
||||||||||||||||||||||||
General and administrative
|
$
|
35,214
|
|
|
$
|
31,939
|
|
|
$
|
30,158
|
|
|
$
|
3,275
|
|
|
10
|
%
|
|
$
|
1,781
|
|
|
6
|
%
|
Percentage of revenue
|
20
|
%
|
|
20
|
%
|
|
22
|
%
|
|
|
|
|
|
|
|
|
|
Fiscal Year Ended
|
|
Fiscal 2017 Compared to Fiscal 2016
|
|
Fiscal 2016 Compared to Fiscal 2015
|
||||||||||||||||||||
|
December 30, 2017
|
|
December 31, 2016
|
|
December 26, 2015
|
|
$ Change
|
|
% Change
|
|
$ Change
|
|
% Change
|
||||||||||||
|
(in thousands, except percentages)
|
||||||||||||||||||||||||
Depreciation and amortization
|
$
|
1,684
|
|
|
$
|
2,972
|
|
|
$
|
4,503
|
|
|
$
|
(1,288
|
)
|
|
(43
|
)%
|
|
$
|
(1,531
|
)
|
|
(34
|
)%
|
Percentage of revenue
|
1
|
%
|
|
2
|
%
|
|
3
|
%
|
|
|
|
|
|
|
|
|
|
Fiscal Year Ended
|
|
Fiscal 2017 Compared to Fiscal 2016
|
|
Fiscal 2016 Compared to Fiscal 2015
|
||||||||||||||||||||
|
December 30, 2017
|
|
December 31, 2016
|
|
December 26, 2015
|
|
$ Change
|
|
% Change
|
|
$ Change
|
|
% Change
|
||||||||||||
|
(in thousands, except percentages)
|
||||||||||||||||||||||||
Restructuring charges
|
$
|
3,136
|
|
|
$
|
714
|
|
|
$
|
—
|
|
|
$
|
2,422
|
|
|
339
|
%
|
|
$
|
714
|
|
|
100
|
%
|
Percentage of revenue
|
2
|
%
|
|
—
|
%
|
|
—
|
%
|
|
|
|
|
|
|
|
|
|
Fiscal Year Ended
|
|
Fiscal 2017 Compared to Fiscal 2016
|
|
Fiscal 2016 Compared to Fiscal 2015
|
||||||||||||||||||||
|
December 30, 2017
|
|
December 31, 2016
|
|
December 26, 2015
|
|
$ Change
|
|
% Change
|
|
$ Change
|
|
% Change
|
||||||||||||
|
(in thousands, except percentages)
|
||||||||||||||||||||||||
Other income (expense), net
|
$
|
2,203
|
|
|
$
|
(1,064
|
)
|
|
$
|
(1,239
|
)
|
|
$
|
3,267
|
|
|
(307
|
)%
|
|
$
|
175
|
|
|
(14
|
)%
|
Percentage of revenue
|
1
|
%
|
|
(1
|
)%
|
|
(1
|
)%
|
|
|
|
|
|
|
|
|
|
Fiscal Year Ended
|
|
Fiscal 2017 Compared to Fiscal 2016
|
|
Fiscal 2016 Compared to Fiscal 2015
|
|||||||||||||||||||
|
December 30, 2017
|
|
December 31, 2016
|
|
December 26, 2015
|
|
$ Change
|
|
% Change
|
|
$ Change
|
|
% Change
|
|||||||||||
|
(in thousands, except percentages)
|
|||||||||||||||||||||||
(Benefit from) provision for income taxes
|
$
|
(2,506
|
)
|
|
$
|
1,282
|
|
|
$
|
1,221
|
|
|
$
|
(3,788
|
)
|
|
(295
|
)%
|
|
$
|
61
|
|
|
5%
|
Percentage of revenue
|
(1
|
)%
|
|
1
|
%
|
|
1
|
%
|
|
|
|
|
|
|
|
|
|
Fiscal Year Ended
|
|
Fiscal 2017 Compared to Fiscal 2016
|
|
Fiscal 2016 Compared to Fiscal 2015
|
||||||||||||||||||||
|
December 30, 2017
|
|
December 31, 2016
|
|
December 26, 2015
|
|
$ Change
|
|
% Change
|
|
$ Change
|
|
% Change
|
||||||||||||
|
(in thousands, except percentages)
|
||||||||||||||||||||||||
Income (loss) from discontinued operations, net of tax
|
$
|
—
|
|
|
$
|
7,761
|
|
|
$
|
(17,116
|
)
|
|
$
|
(7,761
|
)
|
|
(100
|
)%
|
|
$
|
24,877
|
|
|
(145
|
)%
|
Percentage of revenue
|
—
|
%
|
|
5
|
%
|
|
(12
|
)%
|
|
|
|
|
|
|
|
|
|
Fiscal Year Ended
|
||||||||||
|
December 30, 2017
|
|
December 31, 2016
|
|
December 26, 2015
|
||||||
Cash flow provided by (used in):
|
|
|
|
|
|
||||||
Operating activities - Continuing operations
|
22,133
|
|
|
12,690
|
|
|
160
|
|
|||
Operating activities - Discontinued operations
|
—
|
|
|
2,421
|
|
|
(5,124
|
)
|
|||
Investing activities - Continuing operations
|
(825
|
)
|
|
(15,580
|
)
|
|
(4,323
|
)
|
|||
Investing activities - Discontinued operations
|
—
|
|
|
—
|
|
|
(2
|
)
|
|||
Financing activities - Continuing operations
|
3,906
|
|
|
15,108
|
|
|
(1,063
|
)
|
|||
Financing activities - Discontinued operations
|
—
|
|
|
(14,510
|
)
|
|
—
|
|
|||
Effect of exchange rates on cash balances
|
420
|
|
|
(275
|
)
|
|
(289
|
)
|
|||
Increase (decreases) in cash and cash equivalents
|
$
|
25,634
|
|
|
$
|
(146
|
)
|
|
$
|
(10,641
|
)
|
|
Payments Due by Period
|
||||||||||||||||||
|
Total
|
|
Less than 1 Year
|
|
1-3 Years
|
|
4-5 Years
|
|
Thereafter
|
||||||||||
|
|
|
|
|
|
|
|
|
|
||||||||||
Operating lease obligations
|
$
|
26,435
|
|
|
$
|
3,524
|
|
|
$
|
11,281
|
|
|
$
|
7,680
|
|
|
$
|
3,950
|
|
|
Page
|
|
December 30, 2017
|
|
December 31, 2016
|
||||
Assets
|
|
|
|
||||
Current assets:
|
|
|
|
||||
Cash and cash equivalents
|
$
|
86,728
|
|
|
$
|
61,094
|
|
Short-term investments
|
15,000
|
|
|
15,000
|
|
||
Accounts receivable (net of allowance of $102 and $163, respectively)
(1)
|
5,171
|
|
|
2,789
|
|
||
Unbilled accounts receivable
(2)
|
5,454
|
|
|
5,541
|
|
||
Prepaid expenses and other current assets
|
4,883
|
|
|
3,787
|
|
||
Total current assets
|
117,236
|
|
|
88,211
|
|
||
Property and equipment, net
|
3,651
|
|
|
4,947
|
|
||
Intangible assets, net
|
1,142
|
|
|
1,708
|
|
||
Goodwill
|
60,281
|
|
|
57,910
|
|
||
Other non-current assets
|
2,066
|
|
|
2,448
|
|
||
Total assets
|
$
|
184,376
|
|
|
$
|
155,224
|
|
|
|
|
|
||||
Liabilities, redeemable convertible preferred stock, and stockholders' equity
|
|
|
|
||||
Current liabilities:
|
|
|
|
||||
Accounts payable
(3)
|
$
|
1,873
|
|
|
$
|
2,483
|
|
Accrued expenses and other current liabilities
(4)
|
17,086
|
|
|
12,798
|
|
||
Deferred revenue
(5)
|
18,626
|
|
|
15,971
|
|
||
Total current liabilities
|
37,585
|
|
|
31,252
|
|
||
Deferred tax liability
|
1,292
|
|
|
4,276
|
|
||
Other non-current liabilities
|
5,779
|
|
|
5,087
|
|
||
Total liabilities
|
44,656
|
|
|
40,615
|
|
||
Commitments and Contingencies (see note 6)
|
—
|
|
|
—
|
|
||
Series A Redeemable Convertible Preferred Stock, $0.001 par value; 46 shares designated; 46 shares issued and outstanding at December 30, 2017 and December 31, 2016; at aggregate liquidation and redemption value at December 30, 2017 and December 31, 2016
|
50,259
|
|
|
47,660
|
|
||
Stockholders' equity
|
|
|
|
||||
Preferred Stock, $0.001 par value; 5,000 shares authorized at December 30, 2017 and December 31, 2016, respectively
|
—
|
|
|
—
|
|
||
Common stock, $0.001 par value; 300,000 shares authorized; 30,390 and 28,984 shares issued and outstanding at December 30, 2017 and December 31, 2016, respectively
|
30
|
|
|
29
|
|
||
Additional paid-in capital
|
266,030
|
|
|
255,031
|
|
||
Accumulated deficit
|
(177,145
|
)
|
|
(187,808
|
)
|
||
Accumulated other comprehensive income (loss)
|
546
|
|
|
(303
|
)
|
||
Total stockholders' equity
|
89,461
|
|
|
66,949
|
|
||
Total liabilities, redeemable convertible preferred stock and stockholders' equity
|
$
|
184,376
|
|
|
$
|
155,224
|
|
|
Fiscal Year Ended
|
||||||||||
|
December 30, 2017
|
|
December 31, 2016
|
|
December 26, 2015
|
||||||
|
|
|
|
|
|
||||||
Revenue
(1)
|
$
|
174,090
|
|
|
$
|
161,754
|
|
|
$
|
138,681
|
|
Cost of revenue
|
35,773
|
|
|
31,830
|
|
|
26,117
|
|
|||
Operating expenses:
|
|
|
|
|
|
||||||
Selling and marketing
(2)
|
66,906
|
|
|
72,266
|
|
|
73,521
|
|
|||
Research and development
|
25,423
|
|
|
20,402
|
|
|
19,801
|
|
|||
General and administrative
|
35,214
|
|
|
31,939
|
|
|
30,158
|
|
|||
Depreciation and amortization
|
1,684
|
|
|
2,972
|
|
|
4,503
|
|
|||
Restructuring charges
|
3,136
|
|
|
714
|
|
|
—
|
|
|||
Total operating expenses
|
132,363
|
|
|
128,293
|
|
|
127,983
|
|
|||
Operating income (loss)
|
5,954
|
|
|
1,631
|
|
|
(15,419
|
)
|
|||
Other income (expense), net
|
2,203
|
|
|
(1,064
|
)
|
|
(1,239
|
)
|
|||
Income (loss) from continuing operations before income taxes
|
8,157
|
|
|
567
|
|
|
(16,658
|
)
|
|||
(Benefit from) provision for income taxes
|
(2,506
|
)
|
|
1,282
|
|
|
1,221
|
|
|||
Income (loss) from continuing operations
|
10,663
|
|
|
(715
|
)
|
|
(17,879
|
)
|
|||
Income (loss) from discontinued operations, net of tax
|
—
|
|
|
7,761
|
|
|
(17,116
|
)
|
|||
Net income (loss)
|
10,663
|
|
|
7,046
|
|
|
(34,995
|
)
|
|||
Accretion of Series A Redeemable Convertible Preferred Stock dividends
|
(2,599
|
)
|
|
(1,310
|
)
|
|
—
|
|
|||
Accretion of Series A Redeemable Convertible Preferred Stock issuance costs
|
—
|
|
|
(2,124
|
)
|
|
—
|
|
|||
Net income attributable to Series A Redeemable Convertible Preferred Stock
|
(1,120
|
)
|
|
(467
|
)
|
|
—
|
|
|||
Net income (loss) attributable to common stockholders
|
$
|
6,944
|
|
|
$
|
3,145
|
|
|
$
|
(34,995
|
)
|
|
|
|
|
|
|
||||||
Net income (loss) per share attributable to common stockholders (Basic):
|
|
|
|
|
|
||||||
Income (loss) per share from continuing operations attributable to common stockholders
|
$
|
0.23
|
|
|
$
|
(0.12
|
)
|
|
$
|
(0.56
|
)
|
Income (loss) per share from discontinued operations attributable to common stockholders
|
—
|
|
|
0.22
|
|
|
(0.53
|
)
|
|||
Net income (loss) per share attributable to common stockholders
|
$
|
0.23
|
|
|
$
|
0.10
|
|
|
$
|
(1.09
|
)
|
|
|
|
|
|
|
||||||
Net income (loss) per share attributable to common stockholders (Diluted):
|
|
|
|
|
|
||||||
Income (loss) per share from continuing operations attributable to common stockholders
|
$
|
0.22
|
|
|
$
|
(0.12
|
)
|
|
$
|
(0.56
|
)
|
Income (loss) per share from discontinued operations attributable to common stockholders
|
—
|
|
|
0.22
|
|
|
(0.53
|
)
|
|||
Net income (loss) per share attributable to common stockholders
|
$
|
0.22
|
|
|
0.10
|
|
|
$
|
(1.09
|
)
|
|
|
|
|
|
|
|
||||||
Weighted-average shares used to compute net income (loss) per share attributable to common stockholders:
|
|
|
|
|
|
||||||
Basic
|
29,680
|
|
|
30,535
|
|
|
32,001
|
|
|||
Diluted
|
32,406
|
|
|
30,535
|
|
|
32,001
|
|
|
Fiscal Year Ended
|
||||||||||
|
December 30, 2017
|
|
December 31, 2016
|
|
December 26, 2015
|
||||||
|
|
|
|
|
|
||||||
Net income (loss)
|
$
|
10,663
|
|
|
$
|
7,046
|
|
|
$
|
(34,995
|
)
|
|
|
|
|
|
|
||||||
Other comprehensive income (loss):
|
|
|
|
|
|
||||||
Foreign currency translation adjustments
|
849
|
|
|
292
|
|
|
(889
|
)
|
|||
Comprehensive income (loss)
|
$
|
11,512
|
|
|
$
|
7,338
|
|
|
$
|
(35,884
|
)
|
|
Redeemable Convertible Preferred Stock
|
|
Stockholders' Equity
|
||||||||||||||||||||||||||
|
|
Common Stock
|
|
Additional Paid-In Capital
|
|
|
|
Accumulated
Other Comprehensive Income (Loss) |
|
Total
Stockholders' Equity |
|||||||||||||||||||
|
Number
of Shares |
|
Amount
|
|
Number
of Shares |
|
$0.001
Par Value |
|
|
Accumulated
Deficit |
|
|
|||||||||||||||||
Balance at December 27, 2014
|
—
|
|
|
—
|
|
|
31,615
|
|
|
32
|
|
|
277,583
|
|
|
(159,859
|
)
|
|
294
|
|
|
118,050
|
|
||||||
Exercises of stock options
|
—
|
|
|
—
|
|
|
256
|
|
|
—
|
|
|
575
|
|
|
—
|
|
|
—
|
|
|
575
|
|
||||||
Issuance of restricted stock units
|
—
|
|
|
—
|
|
|
214
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||||
Stock-based compensation
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
5,511
|
|
|
—
|
|
|
—
|
|
|
5,511
|
|
||||||
Foreign currency translation adjustment
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(889
|
)
|
|
(889
|
)
|
||||||
Issuance of common stock in connection with acquisitions
|
—
|
|
|
—
|
|
|
191
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||||
Net loss
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(34,995
|
)
|
|
—
|
|
|
(34,995
|
)
|
||||||
Balance at December 26, 2015
|
—
|
|
|
—
|
|
|
32,276
|
|
|
32
|
|
|
283,669
|
|
|
(194,854
|
)
|
|
(595
|
)
|
|
88,252
|
|
||||||
Exercises of stock options
|
—
|
|
|
—
|
|
|
373
|
|
|
—
|
|
|
1,406
|
|
|
—
|
|
|
—
|
|
|
1,406
|
|
||||||
Issuance of restricted stock units
|
—
|
|
|
—
|
|
|
513
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||||
Stock-based compensation
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
6,504
|
|
|
—
|
|
|
—
|
|
|
6,504
|
|
||||||
Return of stock related to settlement of Citrus Lane (Note 3)
|
—
|
|
|
—
|
|
|
(478
|
)
|
|
—
|
|
|
(2,593
|
)
|
|
—
|
|
|
—
|
|
|
(2,593
|
)
|
||||||
Issuance of Series A Redeemable Convertible Preferred Stock, net of issuance costs of $2,124
|
46
|
|
|
44,226
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||||
Common stock repurchase
(1)
|
—
|
|
|
—
|
|
|
(3,700
|
)
|
|
(3
|
)
|
|
(30,521
|
)
|
|
—
|
|
|
—
|
|
|
(30,524
|
)
|
||||||
Accretion of Series A Redeemable Convertible Preferred Stock dividends
|
—
|
|
|
1,310
|
|
|
—
|
|
|
—
|
|
|
(1,310
|
)
|
|
—
|
|
|
—
|
|
|
(1,310
|
)
|
||||||
Accretion of Series A Redeemable Convertible Preferred Stock issuance costs
|
—
|
|
|
2,124
|
|
|
—
|
|
|
—
|
|
|
(2,124
|
)
|
|
—
|
|
|
—
|
|
|
(2,124
|
)
|
||||||
Foreign currency translation adjustment
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
292
|
|
|
292
|
|
||||||
Net income
|
|
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
7,046
|
|
|
—
|
|
|
7,046
|
|
||||||||
Balance at December 31, 2016
|
46
|
|
|
47,660
|
|
|
28,984
|
|
|
29
|
|
|
255,031
|
|
|
(187,808
|
)
|
|
(303
|
)
|
|
66,949
|
|
||||||
Exercises of stock options
|
—
|
|
|
—
|
|
|
840
|
|
|
1
|
|
|
3,906
|
|
|
—
|
|
|
—
|
|
|
3,907
|
|
||||||
Issuance of restricted stock units
|
—
|
|
|
—
|
|
|
566
|
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
—
|
|
|
(1
|
)
|
||||||
Stock-based compensation
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
9,693
|
|
|
—
|
|
|
—
|
|
|
9,693
|
|
||||||
Accretion of Series A Redeemable Convertible Preferred Stock dividends
|
—
|
|
|
2,599
|
|
|
—
|
|
|
—
|
|
|
(2,599
|
)
|
|
—
|
|
|
—
|
|
|
(2,599
|
)
|
||||||
Foreign currency translation adjustment
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
849
|
|
|
849
|
|
||||||
Net income
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
10,663
|
|
|
—
|
|
|
10,663
|
|
||||||
Balance at December 30, 2017
|
46
|
|
|
$
|
50,259
|
|
|
30,390
|
|
|
$
|
30
|
|
|
$
|
266,030
|
|
|
$
|
(177,145
|
)
|
|
$
|
546
|
|
|
$
|
89,461
|
|
|
Fiscal Year Ended
|
||||||||||
|
December 30, 2017
|
|
December 31, 2016
|
|
December 26, 2015
|
||||||
Cash flows from operating activities
|
|
|
|
|
|
||||||
Net income (loss)
|
$
|
10,663
|
|
|
$
|
7,046
|
|
|
$
|
(34,995
|
)
|
Income (loss) from discontinued operations, net of tax
|
—
|
|
|
7,761
|
|
|
(17,116
|
)
|
|||
Income (loss) from continuing operations
|
10,663
|
|
|
(715
|
)
|
|
(17,879
|
)
|
|||
Adjustments to reconcile net income (loss) from continuing operations to net cash provided by (cash used) in operating activities:
|
|
|
|
|
|
||||||
Stock-based compensation
|
9,693
|
|
|
6,470
|
|
|
4,926
|
|
|||
Depreciation and amortization
|
2,240
|
|
|
3,722
|
|
|
5,218
|
|
|||
Deferred taxes
|
(2,983
|
)
|
|
1,110
|
|
|
1,094
|
|
|||
Foreign currency remeasurement (gain) loss
|
(1,838
|
)
|
|
1,261
|
|
|
1,275
|
|
|||
Other non-operating expenses (income)
|
489
|
|
|
41
|
|
|
(98
|
)
|
|||
Changes in operating assets and liabilities, net of effects from acquisitions:
|
|
|
|
|
|
||||||
Accounts receivable
|
(2,349
|
)
|
|
281
|
|
|
(604
|
)
|
|||
Unbilled accounts receivable
|
95
|
|
|
(1,947
|
)
|
|
(291
|
)
|
|||
Prepaid expenses and other current assets
|
(647
|
)
|
|
(589
|
)
|
|
2,076
|
|
|||
Other non-current assets
|
95
|
|
|
(3
|
)
|
|
(22
|
)
|
|||
Accounts payable
|
(638
|
)
|
|
(688
|
)
|
|
(588
|
)
|
|||
Accrued expenses and other current liabilities
|
3,031
|
|
|
938
|
|
|
1,864
|
|
|||
Deferred revenue
|
2,531
|
|
|
2,581
|
|
|
2,280
|
|
|||
Other non-current liabilities
|
1,751
|
|
|
228
|
|
|
909
|
|
|||
Net cash provided by operating activities by continuing operations
|
22,133
|
|
|
12,690
|
|
|
160
|
|
|||
Net cash provided by (used in) operating activities by discontinued operations
|
—
|
|
|
2,421
|
|
|
(5,124
|
)
|
|||
Net cash provided by (used in) operating activities
|
22,133
|
|
|
15,111
|
|
|
(4,964
|
)
|
|||
|
|
|
|
|
|
||||||
Cash flows from investing activities
|
|
|
|
|
|
||||||
Purchases of property and equipment and software
|
(792
|
)
|
|
(244
|
)
|
|
(4,396
|
)
|
|||
Payments for acquisitions, net of cash acquired
|
—
|
|
|
(420
|
)
|
|
—
|
|
|||
Cash withheld for purchase consideration
|
—
|
|
|
—
|
|
|
73
|
|
|||
Proceeds from security deposit for sub-lease
|
—
|
|
|
84
|
|
|
—
|
|
|||
Payments for security deposits
|
(33
|
)
|
|
—
|
|
|
—
|
|
|||
Purchases of short-term investments
|
(15,000
|
)
|
|
(15,000
|
)
|
|
—
|
|
|||
Sale of short-term investments
|
15,000
|
|
|
—
|
|
|
—
|
|
|||
Net cash used in investing activities by continuing operations
|
(825
|
)
|
|
(15,580
|
)
|
|
(4,323
|
)
|
|||
Net cash used in investing activities by discontinued operations
|
—
|
|
|
—
|
|
|
(2
|
)
|
|||
Net cash used in investing activities
|
(825
|
)
|
|
(15,580
|
)
|
|
(4,325
|
)
|
|||
|
|
|
|
|
|
Cash flows from financing activities
|
|
|
|
|
|
||||||
Proceeds from issuance of Series A Redeemable Convertible Preferred Stock, net of issuance costs of $2,124
|
—
|
|
|
44,226
|
|
|
—
|
|
|||
Proceeds from exercise of common stock options
|
3,906
|
|
|
1,406
|
|
|
777
|
|
|||
Payments of contingent consideration previously established in purchase accounting
|
—
|
|
|
—
|
|
|
(1,840
|
)
|
|||
Payment for repurchase of common stock
|
—
|
|
|
(30,524
|
)
|
|
—
|
|
|||
Net cash provided by (used in) financing activities by continuing operations
|
3,906
|
|
|
15,108
|
|
|
(1,063
|
)
|
|||
Net cash used in financing activities by discontinued operations
|
—
|
|
|
(14,510
|
)
|
|
—
|
|
|||
Net cash provided by (used in) financing activities
|
3,906
|
|
|
598
|
|
|
(1,063
|
)
|
|||
|
|
|
|
|
|
||||||
Effect of exchange rate changes on cash and cash equivalents
|
420
|
|
|
(275
|
)
|
|
(289
|
)
|
|||
Net increase (decrease) in cash and cash equivalents
|
25,634
|
|
|
(146
|
)
|
|
(10,641
|
)
|
|||
Cash and cash equivalents, beginning of the period
|
61,094
|
|
|
61,240
|
|
|
71,881
|
|
|||
Cash and cash equivalents, end of the period
|
$
|
86,728
|
|
|
$
|
61,094
|
|
|
$
|
61,240
|
|
|
|
|
|
|
|
||||||
Supplemental disclosure of cash flow activities
|
|
|
|
|
|
||||||
Cash paid for taxes
|
$
|
101
|
|
|
$
|
177
|
|
|
$
|
171
|
|
|
|
|
|
|
|
||||||
Supplemental disclosure of non-cash investing and financing activities
|
|
|
|
|
|
||||||
Unpaid purchases of property and equipment
|
$
|
22
|
|
|
$
|
8
|
|
|
$
|
43
|
|
Series A Redeemable Convertible Preferred Stock dividend accretion
|
$
|
2,599
|
|
|
$
|
1,310
|
|
|
$
|
—
|
|
Series A Redeemable Convertible Preferred Stock issuance costs accretion
|
$
|
—
|
|
|
$
|
2,124
|
|
|
$
|
—
|
|
Fair value of common shares received from legal settlement (Note 3)
|
$
|
—
|
|
|
$
|
2,593
|
|
|
$
|
—
|
|
|
Balance Beginning of Period
|
|
Charged to Statement of Operations
|
|
Deductions
(1)
|
|
Balance at End of Period
|
||||||||
Allowance for Doubtful Accounts
|
|
|
|
|
|
|
|
||||||||
Year ended December 30, 2017
|
$
|
163
|
|
|
$
|
1,001
|
|
|
$
|
(1,062
|
)
|
|
$
|
102
|
|
Year ended December 31, 2016
|
$
|
125
|
|
|
$
|
1,387
|
|
|
$
|
(1,349
|
)
|
|
$
|
163
|
|
Year ended December 26, 2015
|
$
|
—
|
|
|
$
|
991
|
|
|
$
|
(866
|
)
|
|
$
|
125
|
|
•
|
Level 1 inputs - Unadjusted quoted prices in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date.
|
•
|
Level 2 inputs - Inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. These might include quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the asset or liability (such as interest rates, volatilities, prepayment speeds, credit risks, etc.), or inputs that are derived principally from or corroborated by market data by correlation or other means.
|
•
|
Level 3 inputs - Unobservable inputs for determining the fair values of assets or liabilities that reflect an entity’s own assumptions about the assumptions that market participants would use in pricing the assets or liabilities.
|
|
December 30, 2017
|
|
December 31, 2016
|
||||||||||||||||||||||||||||
|
Fair Value Measurements Using Input Types
|
|
|
|
Fair Value Measurements Using Input Types
|
|
|
||||||||||||||||||||||||
|
Level 1
|
|
Level 2
|
|
Level 3
|
|
Total
|
|
Level 1
|
|
Level 2
|
|
Level 3
|
|
Total
|
||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||
Assets:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||
Money market mutual funds
|
$
|
17,810
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
17,810
|
|
|
$
|
17,637
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
17,637
|
|
Certificates of deposit
|
17,282
|
|
|
—
|
|
|
—
|
|
|
17,282
|
|
|
17,377
|
|
|
—
|
|
|
—
|
|
|
17,377
|
|
||||||||
Total assets
|
$
|
35,092
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
35,092
|
|
|
$
|
35,014
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
35,014
|
|
|
December 30, 2017
|
|
December 31, 2016
|
||||
|
|
|
|
||||
Computer equipment
|
$
|
2,926
|
|
|
$
|
2,365
|
|
Furniture and fixtures
|
1,680
|
|
|
1,574
|
|
||
Software
|
1,241
|
|
|
1,373
|
|
||
Leasehold improvements
|
3,334
|
|
|
3,889
|
|
||
Total
|
9,181
|
|
|
9,201
|
|
||
Less accumulated depreciation
|
(5,530
|
)
|
|
(4,254
|
)
|
||
Property and equipment, net
|
$
|
3,651
|
|
|
$
|
4,947
|
|
|
Estimated Useful Life
|
Computer equipment
|
3 - 5 years
|
Leasehold improvements
|
Lesser of asset life or lease term
|
Furniture and fixtures
|
3 - 5 years
|
Software
|
3 - 6 years
|
|
Fiscal Year Ended
|
||||||
|
December 31, 2016
|
|
December 26, 2015
|
||||
|
|
|
|
||||
Revenue
|
$
|
101
|
|
|
11,530
|
|
|
Cost of revenue
|
108
|
|
|
11,849
|
|
||
Operating expenses:
|
|
|
|
||||
Selling and marketing
|
54
|
|
|
2,229
|
|
||
Research and development
|
11
|
|
|
904
|
|
||
General and administrative
|
(7,835
|
)
|
|
2,698
|
|
||
Impairment of goodwill and intangible assets
|
—
|
|
|
8,766
|
|
||
Depreciation and amortization
|
8
|
|
|
99
|
|
||
Operating (loss) income
|
7,755
|
|
|
(15,015
|
)
|
||
Other income (expense), net
|
6
|
|
|
(30
|
)
|
||
Income (loss) from discontinued operations before income taxes
|
7,761
|
|
|
(15,045
|
)
|
||
Loss on disposal of assets before income taxes
|
—
|
|
|
(2,071
|
)
|
||
Provision for income tax
|
—
|
|
|
—
|
|
||
Net income (loss) from discontinued operations
|
$
|
7,761
|
|
|
$
|
(17,116
|
)
|
December 31, 2016
|
$
|
57,910
|
|
Effect of currency translation
|
2,371
|
|
|
December 30, 2017
|
$
|
60,281
|
|
|
Gross Carrying Value
|
|
Accumulated Amortization
|
|
Net Carrying Value
|
|
Weighted-Average Remaining Life (Years)
|
||||||
December 30, 2017
|
|
|
|
|
|
|
|
||||||
Indefinite lived intangibles
|
$
|
242
|
|
|
$
|
—
|
|
|
$
|
242
|
|
|
N/A
|
Trademarks and trade names
|
4,469
|
|
|
(4,337
|
)
|
|
132
|
|
|
1.5
|
|||
Proprietary software
|
5,328
|
|
|
(5,188
|
)
|
|
140
|
|
|
1.0
|
|||
Internal software
|
264
|
|
|
(163
|
)
|
|
101
|
|
|
2.2
|
|||
Leasehold interests
|
170
|
|
|
(137
|
)
|
|
33
|
|
|
1.4
|
|||
Customer relationships
|
8,844
|
|
|
(8,350
|
)
|
|
494
|
|
|
5.2
|
|||
Total
|
$
|
19,317
|
|
|
$
|
(18,175
|
)
|
|
$
|
1,142
|
|
|
|
|
|
|
|
|
|
|
|
||||||
December 31, 2016
|
|
|
|
|
|
|
|
||||||
Indefinite lived intangibles
|
$
|
242
|
|
|
$
|
—
|
|
|
$
|
242
|
|
|
N/A
|
Trademarks and trade names
|
4,394
|
|
|
(4,200
|
)
|
|
194
|
|
|
2.5
|
|||
Proprietary software
|
5,102
|
|
|
(4,485
|
)
|
|
617
|
|
|
1.3
|
|||
Website
|
50
|
|
|
(50
|
)
|
|
—
|
|
|
0.0
|
|||
Training materials
|
30
|
|
|
(30
|
)
|
|
—
|
|
|
0.0
|
|||
Non-compete agreements
|
127
|
|
|
(120
|
)
|
|
7
|
|
|
0.6
|
|||
Leasehold interests
|
170
|
|
|
(111
|
)
|
|
59
|
|
|
2.3
|
|||
Caregiver relationships
|
276
|
|
|
(276
|
)
|
|
—
|
|
|
0.0
|
|||
Customer relationships
|
8,754
|
|
|
(8,165
|
)
|
|
589
|
|
|
6.1
|
|||
Total
|
$
|
19,145
|
|
|
$
|
(17,437
|
)
|
|
$
|
1,708
|
|
|
|
2018
|
$
|
397
|
|
2019
|
191
|
|
|
2020
|
108
|
|
|
2021
|
96
|
|
|
2022
|
96
|
|
|
Thereafter
|
12
|
|
|
Total
|
$
|
900
|
|
|
December 30, 2017
|
|
December 31, 2016
|
||||
|
|
|
|
||||
Payroll and compensation
|
$
|
6,351
|
|
|
$
|
4,489
|
|
Tax-related expenses
|
2,073
|
|
|
1,358
|
|
||
Marketing expenses
|
2,224
|
|
|
3,017
|
|
||
Restructuring
|
1,847
|
|
|
93
|
|
||
Legal
|
1,138
|
|
|
428
|
|
||
Other accrued expenses
|
3,453
|
|
|
3,413
|
|
||
Total accrued expenses and other current liabilities
|
$
|
17,086
|
|
|
$
|
12,798
|
|
|
Operating Leases Future Rental Expense
|
|
Operating Leases Future Sub-lease Rental Income
|
||||
2018
|
$
|
3,524
|
|
|
$
|
516
|
|
2019
|
3,662
|
|
|
377
|
|
||
2020
|
3,832
|
|
|
176
|
|
||
2021
|
3,787
|
|
|
—
|
|
||
2022
|
3,834
|
|
|
—
|
|
||
Thereafter
|
7,796
|
|
|
—
|
|
||
Total
|
$
|
26,435
|
|
|
$
|
1,069
|
|
|
Fiscal Year Ended
|
||||||||||
|
December 30, 2017
|
|
December 31, 2016
|
|
December 26, 2015
|
||||||
|
|
|
|
|
|
||||||
Cost of revenue
|
$
|
396
|
|
|
$
|
316
|
|
|
$
|
236
|
|
Selling and marketing
|
1,216
|
|
|
898
|
|
|
813
|
|
|||
Research and development
|
1,771
|
|
|
1,103
|
|
|
760
|
|
|||
General and administrative
|
6,310
|
|
|
4,153
|
|
|
3,116
|
|
|||
Income (loss) from discontinued operations
|
—
|
|
|
14
|
|
|
589
|
|
|||
Total stock-based compensation
|
$
|
9,693
|
|
|
$
|
6,484
|
|
|
$
|
5,514
|
|
|
Fiscal Year Ended
|
||||
|
December 30, 2017
|
|
December 31, 2016
|
|
December 26, 2015
|
Risk-free interest rate
|
1.86 - 2.21 %
|
|
1.19 - 2.23 %
|
|
N/A
|
Expected term (years)
|
6.25
|
|
6.25
|
|
N/A
|
Volatility
|
30.2 - 33.4 %
|
|
33.3 - 38.2 %
|
|
N/A
|
Expected dividend yield
|
—%
|
|
—%
|
|
N/A
|
|
Stock Options
|
|
Restricted Stock Units
|
||||||||||||||||
|
Shares
|
|
Weighted-Average Remaining Contractual Term (Years)
|
|
Weighted-Average Exercise Price
|
|
Aggregate Intrinsic Value
|
|
Shares
|
|
Weighted-Average Grant Date Fair Value
|
||||||||
Outstanding as of December 31, 2016
|
4,312
|
|
|
6.45
|
|
$
|
6.64
|
|
|
$
|
13,042
|
|
|
1,780
|
|
|
$
|
7.08
|
|
Granted
(1)
|
1,243
|
|
|
|
|
13.66
|
|
|
|
|
1,179
|
|
|
12.85
|
|
||||
Settled (RSUs)
|
—
|
|
|
|
|
—
|
|
|
|
|
(554
|
)
|
|
7.66
|
|
||||
Exercised
|
(841
|
)
|
|
|
|
4.65
|
|
|
|
|
—
|
|
|
—
|
|
||||
Canceled and forfeited
|
(228
|
)
|
|
|
|
12.61
|
|
|
|
|
(555
|
)
|
|
7.09
|
|
||||
Outstanding as of December 30, 2017
|
4,486
|
|
|
6.68
|
|
$
|
8.65
|
|
|
$
|
42,892
|
|
|
1,850
|
|
|
$
|
10.58
|
|
Vested and exercisable as of December 30, 2017
|
2,657
|
|
|
5.19
|
|
$
|
6.97
|
|
|
$
|
30,145
|
|
|
N/A
|
|
N/A
|
|
December 30, 2017
|
|
|
|
|
Options issued and outstanding
|
4,486
|
|
Restricted stock units issued and outstanding
|
1,850
|
|
Common stock available for stock-based award grants under incentive award plans
|
2,154
|
|
Common stock available for conversion of Series A Redeemable Convertible Preferred Stock
|
4,787
|
|
Total
|
13,277
|
|
|
Fiscal Year Ended
|
||||||||||
|
December 30, 2017
|
|
December 31, 2016
|
|
December 26, 2015
|
||||||
|
|
|
|
|
|
||||||
Numerator:
|
|
|
|
|
|
||||||
Basic:
|
|
|
|
|
|
||||||
Net income (loss) from continuing operations attributable to common stockholders
|
$
|
6,944
|
|
|
$
|
(3,612
|
)
|
|
$
|
(17,879
|
)
|
Net income from discontinued operations attributable to common stockholders
|
$
|
—
|
|
|
$
|
6,757
|
|
|
$
|
(17,116
|
)
|
Dilutive
|
|
|
|
|
|
||||||
Net income (loss) from continuing operations attributable to common stockholders
|
$
|
6,944
|
|
|
$
|
(3,612
|
)
|
|
$
|
(17,879
|
)
|
Plus: undistributed earnings allocated to participating securities
|
3,719
|
|
|
—
|
|
|
—
|
|
|||
Less: undistributed earnings reallocated to participating securities
|
(3,637
|
)
|
|
—
|
|
|
—
|
|
|||
Net income (loss) from continuing operations attributable to common stockholders
|
$
|
7,026
|
|
|
$
|
(3,612
|
)
|
|
$
|
(17,879
|
)
|
Net income (loss) from discontinued operations attributable to common stockholders
|
$
|
—
|
|
|
$
|
6,757
|
|
|
$
|
(17,116
|
)
|
|
|
|
|
|
|
||||||
Denominator:
|
|
|
|
|
|
||||||
Weighted-average shares outstanding - basic
|
29,680
|
|
|
30,535
|
|
|
32,001
|
|
|||
|
|
|
|
|
|
||||||
Dilutive impact from:
|
|
|
|
|
|
||||||
Options outstanding
|
1,941
|
|
|
—
|
|
|
—
|
|
|||
Restricted stock units
|
785
|
|
|
—
|
|
|
—
|
|
|||
Weighted-average shares outstanding - dilutive
|
32,406
|
|
|
30,535
|
|
|
32,001
|
|
|||
|
|
|
|
|
|
||||||
Net income (loss) per share attributable to common stockholders (Basic):
|
|
|
|
|
|
||||||
Income (loss) per share from continuing operations attributable to common stockholders
|
$
|
0.23
|
|
|
$
|
(0.12
|
)
|
|
$
|
(0.56
|
)
|
Income (loss) per share from discontinued operations attributable to common stockholders
|
—
|
|
|
0.22
|
|
|
(0.53
|
)
|
|||
Net income (loss) per share attributable to common stockholders
|
$
|
0.23
|
|
|
$
|
0.10
|
|
|
$
|
(1.09
|
)
|
|
|
|
|
|
|
||||||
Net income (loss) per share attributable to common stockholders (Diluted):
|
|
|
|
|
|
||||||
Income (loss) per share from continuing operations attributable to common stockholders
|
$
|
0.22
|
|
|
$
|
(0.12
|
)
|
|
$
|
(0.56
|
)
|
Income (loss) per share from discontinued operations attributable to common stockholders
|
—
|
|
|
0.22
|
|
|
(0.53
|
)
|
|||
Net income (loss) per share attributable to common stockholders
|
$
|
0.22
|
|
|
$
|
0.10
|
|
|
$
|
(1.09
|
)
|
|
Fiscal Year Ended
|
|||||||
|
December 30, 2017
|
|
December 31, 2016
|
|
December 26, 2015
|
|||
Stock options
|
1,365
|
|
|
4,312
|
|
|
3,482
|
|
Restricted stock units
|
140
|
|
|
1,780
|
|
|
1,306
|
|
Series A Redeemable Convertible Preferred Stock (as converted to common stock)
|
4,787
|
|
|
4,539
|
|
|
—
|
|
|
Preferred Stock Authorized
|
|
Issuance Date
|
|
Issued and Outstanding
|
|
Liquidation Preference as of June 29, 2023
|
|
Carrying Value
|
|
Common Stock Issuable Upon Conversion as of June 29, 2023
|
|||||||
|
December 30, 2017
|
|||||||||||||||||
Series A
|
46,350
|
|
|
June 29, 2016
|
|
46,350
|
|
|
$
|
67,424
|
|
|
$
|
50,259
|
|
|
6,421,369
|
|
|
December 31, 2016
|
|||||||||||||||||
Series A
|
46,350
|
|
|
June 29, 2016
|
|
46,350
|
|
|
$
|
67,763
|
|
|
$
|
47,660
|
|
|
6,453,660
|
|
|
Fiscal Year Ended
|
||||||||||
|
December 30, 2017
|
|
December 31, 2016
|
|
December 26, 2015
|
||||||
United States
|
$
|
4,457
|
|
|
$
|
721
|
|
|
$
|
(13,318
|
)
|
Foreign
|
3,700
|
|
|
(154
|
)
|
|
(3,340
|
)
|
|||
Income (loss) from continuing operations before income taxes
|
$
|
8,157
|
|
|
$
|
567
|
|
|
$
|
(16,658
|
)
|
|
Fiscal Year Ended
|
||||||||||
|
December 30, 2017
|
|
December 31, 2016
|
|
December 26, 2015
|
||||||
|
|
|
|
|
|
||||||
Current:
|
|
|
|
|
|
||||||
Federal
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
State
|
137
|
|
|
88
|
|
|
94
|
|
|||
Foreign
|
340
|
|
|
85
|
|
|
33
|
|
|||
Total current provision for income taxes
|
477
|
|
|
173
|
|
|
127
|
|
|||
Deferred:
|
|
|
|
|
|
||||||
Federal
|
(3,136
|
)
|
|
894
|
|
|
883
|
|
|||
State
|
153
|
|
|
216
|
|
|
211
|
|
|||
Foreign
|
—
|
|
|
—
|
|
|
—
|
|
|||
Total deferred tax (benefit) provision
|
(2,983
|
)
|
|
1,110
|
|
|
1,094
|
|
|||
Total (benefit from) provision for income taxes
|
$
|
(2,506
|
)
|
|
$
|
1,282
|
|
|
$
|
1,221
|
|
|
Fiscal Year Ended
|
|||||||
|
December 30, 2017
|
|
December 31, 2016
|
|
December 26, 2015
|
|||
|
|
|
|
|
|
|||
U.S. federal taxes at statutory rate
|
34
|
%
|
|
34
|
%
|
|
34
|
%
|
State income taxes, net of federal benefit
|
3
|
|
|
35
|
|
|
(1
|
)
|
Permanent differences
|
(33
|
)
|
|
108
|
|
|
(3
|
)
|
Foreign rate differential
|
(4
|
)
|
|
(5
|
)
|
|
(1
|
)
|
Change in valuation allowance - U.S.
|
(250
|
)
|
|
27
|
|
|
(31
|
)
|
Change in valuation allowance - foreign
|
(8
|
)
|
|
27
|
|
|
(5
|
)
|
Deferred rate change
|
227
|
|
|
—
|
|
|
—
|
|
Total
|
(31
|
)%
|
|
226
|
%
|
|
(7
|
)%
|
|
Fiscal Year Ended
|
||||||
|
December 30, 2017
|
|
December 31, 2016
|
||||
Deferred tax assets
|
|
|
|
||||
Net operating loss carryforwards
|
$
|
38,050
|
|
|
$
|
53,611
|
|
Accrued expenses
|
3,362
|
|
|
3,202
|
|
||
Stock-based compensation
|
2,446
|
|
|
2,342
|
|
||
U.S. definite lived intangibles
|
3,362
|
|
|
5,214
|
|
||
Other temporary differences
|
78
|
|
|
433
|
|
||
Total deferred tax assets
|
47,298
|
|
|
64,802
|
|
||
Valuation allowance
|
(44,703
|
)
|
|
(64,229
|
)
|
||
Net deferred tax assets
|
2,595
|
|
|
573
|
|
||
Deferred tax liabilities
|
|
|
|
||||
Foreign intangibles
|
(40
|
)
|
|
(59
|
)
|
||
U.S. goodwill
|
(3,640
|
)
|
|
(4,276
|
)
|
||
Fixed assets
|
(84
|
)
|
|
(514
|
)
|
||
Other temporary differences
|
(124
|
)
|
|
—
|
|
||
Total deferred tax liabilities
|
(3,888
|
)
|
|
(4,849
|
)
|
||
Net deferred tax liabilities
|
$
|
(1,293
|
)
|
|
$
|
(4,276
|
)
|
|
Fiscal Year Ended
|
||||||||||
|
December 30, 2017
|
|
December 31, 2016
|
|
December 26, 2015
|
||||||
U.S. Consumer Business
|
$
|
137,918
|
|
|
$
|
130,327
|
|
|
$
|
115,020
|
|
Other
|
36,172
|
|
|
31,427
|
|
|
23,661
|
|
|||
Total revenue
|
$
|
174,090
|
|
|
$
|
161,754
|
|
|
$
|
138,681
|
|
|
Fiscal Year Ended
|
||||||||||
|
December 30, 2017
|
|
December 31, 2016
|
|
December 26, 2015
|
||||||
United States
|
$
|
158,207
|
|
|
$
|
147,830
|
|
|
$
|
129,085
|
|
International
|
15,883
|
|
|
13,924
|
|
|
9,596
|
|
|||
Total revenue
|
$
|
174,090
|
|
|
$
|
161,754
|
|
|
$
|
138,681
|
|
|
Fiscal Year Ended
|
|||||||
|
December 30, 2017
|
|
December 31, 2016
|
|
December 26, 2015
|
|||
United States
|
91
|
%
|
|
91
|
%
|
|
93
|
%
|
International
|
9
|
%
|
|
9
|
%
|
|
7
|
%
|
Total revenue
|
100
|
%
|
|
100
|
%
|
|
100
|
%
|
|
December 30, 2017
|
||
|
Restructuring Liability
|
||
December 31, 2016
|
$
|
356
|
|
Restructuring charges
|
2,620
|
|
|
Reclassification of deferred rent liability
|
1,000
|
|
|
Payments
|
(23
|
)
|
|
Changes in estimate
|
(30
|
)
|
|
Accretion of sublease liability
|
(429
|
)
|
|
December 30, 2017
|
$
|
3,494
|
|
|
Fiscal Year Ended
|
||||||||||
|
December 30, 2017
|
|
December 31, 2016
|
|
December 26, 2015
|
||||||
Interest income
|
389
|
|
|
225
|
|
|
72
|
|
|||
Interest expense
|
(6
|
)
|
|
(4
|
)
|
|
(3
|
)
|
|||
Gain (loss) on exchange
|
1,820
|
|
|
(1,285
|
)
|
|
(1,306
|
)
|
|||
Other income (expense)
|
—
|
|
|
—
|
|
|
(2
|
)
|
|||
Total other income (expense), net
|
$
|
2,203
|
|
|
$
|
(1,064
|
)
|
|
$
|
(1,239
|
)
|
|
For the Quarter Ended
|
||||||||||||||
|
December 30, 2017
|
|
September 30, 2017
|
|
July 1,
2017 |
|
April 1,
2017 |
||||||||
Total revenue
|
$
|
44,216
|
|
|
$
|
44,536
|
|
|
$
|
41,972
|
|
|
$
|
43,366
|
|
ITEM 9.
|
CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE
|
•
|
pertain to the maintenance of records that in reasonable detail accurately and fairly reflect the transactions and dispositions of a company’s assets;
|
•
|
provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that a company’s receipts and expenditures are being made only in accordance with authorizations of the company’s management and directors; and
|
•
|
provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of our assets that could have a material effect on the financial statements.
|
ITEM 12.
|
SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS
|
|
|
|
|
|
|
Incorporated by Reference
|
||||
Exhibit Number
|
|
Exhibit Description
|
|
Filed with this Form 10-K
|
|
Form
|
|
Filing Date
with SEC
|
|
Exhibit Number
|
3.1
|
|
|
|
|
8-K
|
|
1/29/2014
|
|
3.1
|
|
3.1
|
|
|
|
|
8-K
|
|
6/29/2016
|
|
3.1
|
|
4.2
|
|
|
|
|
S-1/A
|
|
1/10/2014
|
|
4.2
|
|
10.1 #
|
|
|
|
|
S-1
|
|
12/12/2013
|
|
10.1
|
10.2 #
|
|
|
|
|
S-1
|
|
12/12/2013
|
|
10.2
|
|
10.3 #
|
|
|
|
|
S-1
|
|
12/12/2013
|
|
10.4
|
|
10.4 #
|
|
|
|
|
S-1/A
|
|
1/3/2014
|
|
10.5
|
|
10.5 #
|
|
|
|
|
S-1/A
|
|
1/3/2014
|
|
10.6
|
|
10.6 #
|
|
|
|
|
S-1/A
|
|
1/3/2014
|
|
10.7
|
|
10.7 #
|
|
|
|
|
S-1/A
|
|
1/3/2014
|
|
10.8
|
|
10.8 #
|
|
|
|
|
S-1
|
|
12/12/2013
|
|
10.10
|
|
10.9 #
|
|
|
|
|
S-1
|
|
12/12/2013
|
|
10.11
|
|
10.10 #
|
|
|
|
|
S-1
|
|
12/12/2013
|
|
10.12
|
|
10.11
|
|
|
|
|
8-K
|
|
8/4/2014
|
|
10.1
|
|
10.12
|
|
|
|
|
8-K
|
|
8/4/2014
|
|
10.2
|
|
10.13
|
|
|
|
|
8-K
|
|
8/4/2014
|
|
10.3
|
|
10.14
|
|
|
|
|
8-K
|
|
8/4/2014
|
|
10.4
|
|
10.15 #
|
|
|
|
|
8-K
|
|
3/19/2015
|
|
99.2
|
|
10.16 #
|
|
|
|
|
8-K
|
|
3/17/2016
|
|
10.1
|
|
10.17
|
|
|
|
|
8-K
|
|
6/29/2016
|
|
10.1
|
|
10.18
|
|
|
|
|
8-K
|
|
6/29/2016
|
|
10.2
|
|
10.19#
|
|
|
|
|
8-K
|
|
7/21/2017
|
|
10.1
|
|
10.20#
|
|
|
|
|
8-K
|
|
7/21/2017
|
|
10.2
|
|
10.21#
|
|
|
|
|
8-K
|
|
7/21/2017
|
|
10.3
|
|
21.1
|
|
|
X
|
|
|
|
|
|
|
|
23.1
|
|
|
X
|
|
|
|
|
|
|
|
31.1
|
|
|
X
|
|
|
|
|
|
|
31.2
|
|
|
X
|
|
|
|
|
|
|
|
32.1
|
|
|
X
|
|
|
|
|
|
|
|
101.INS
|
|
XBRL Instance Document
|
|
X
|
|
|
|
|
|
|
101.SCH
|
|
XBRL Taxonomy Schema Linkbase Document
|
|
X
|
|
|
|
|
|
|
101.CAL
|
|
XBRL Taxonomy Calculation Linkbase Document
|
|
X
|
|
|
|
|
|
|
101.DEF
|
|
XBRL Taxonomy Definition Linkbase Document
|
|
X
|
|
|
|
|
|
|
101.LAB
|
|
XBRL Taxonomy Labels Linkbase Document
|
|
X
|
|
|
|
|
|
|
101.PRE
|
|
XBRL Taxonomy Presentation Linkbase Document
|
|
X
|
|
|
|
|
|
|
(1)
|
The registrant hereby agrees to furnish supplementary a copy of any schedules and/or exhibits to this agreement, omitted from this report pursuant to Item 601(b)(2) of Regulation S-K, to the Securities and Exchange Commission upon its request.
|
#
|
Indicates management contract or compensatory plan.
|
|
|
|
CARE.COM, INC.
|
Dated: February 27, 2018
|
|
|
By: /s/
SHEILA LIRIO MARCELO
|
|
|
|
Sheila Lirio Marcelo
|
|
|
|
President, Chief Executive Officer and Director
(Principal Executive Officer)
|
Dated: February 27, 2018
|
|
|
By:
/s/ SHEILA LIRIO MARCELO
|
|
|
|
Sheila Lirio Marcelo
|
|
|
|
President, Chief Executive Officer and Director
|
|
|
|
(Principal Executive Officer)
|
|
|
|
|
Dated: February 27, 2018
|
|
|
By:
/s/ MICHAEL ECHENBERG
|
|
|
|
Michael Echenberg
|
|
|
|
Executive Vice President and Chief Financial Officer
|
|
|
|
(Principal Financial and Accounting Officer)
|
|
|
|
|
Dated: February 27, 2018
|
|
|
By:
/s/ MARLA BLOW
|
|
|
|
Marla Blow
|
|
|
|
Director
|
|
|
|
|
Dated: February 27, 2018
|
|
|
By:
/s/ WILLIAM H. HARRIS, JR.
|
|
|
|
William H. Harris, Jr.
|
|
|
|
Director
|
|
|
|
|
Dated: February 27, 2018
|
|
|
By: /s/
GEORGE BELL
|
|
|
|
George Bell
|
|
|
|
Director
|
|
|
|
|
Dated: February 27, 2018
|
|
|
By: /s/
CHET KAPOOR
|
|
|
|
Chet Kapoor
|
|
|
|
Director
|
|
|
|
|
Dated: February 27, 2018
|
|
|
By: /s/
J. SANFORD MILLER
|
|
|
|
J. Sanford Miller
|
|
|
|
Director
|
|
|
|
|
Dated: February 27, 2018
|
|
|
By: /s/
JOANNA REES
|
|
|
|
Joanna Rees
|
|
|
|
Director
|
|
|
|
|
Dated: February 27, 2018
|
|
|
By: /s/
I. DUNCAN ROBERTSON
|
|
|
|
I. Duncan Robertson
|
|
|
|
Director
|
|
|
|
|
Dated: February 27, 2018
|
|
|
By: /s/
LAELA STURDY
|
|
|
|
Laela Sturdy
|
|
|
|
Director
|
|
|
|
|
Dated: February 27, 2018
|
|
|
By: /s/
DANIEL S. YOO
|
|
|
|
Daniel S. Yoo
|
|
|
|
Director
|
1 Year Care com Chart |
1 Month Care com Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions