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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 |
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Form 10-Q
|
|
[x]
|
QUARTERLY 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
|
|
||
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Care.com, Inc.
|
|
(Exact name of registrant as specified in its charter)
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Delaware
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20-578-5879
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(State or other jurisdiction of
incorporation or organization)
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(I.R.S. Employer
Identification Number)
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77 Fourth Avenue, Fifth Floor
Waltham, MA
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02451
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(Address of principal executive offices)
|
(Zip Code)
|
Title of each class
|
|
Name of exchange on which registered
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Common Stock, par value $0.001
|
|
The New York Stock Exchange
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Securities registered pursuant to Section 12(g) of the Act:
|
||
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None
|
|
Large accelerated filer
|
[ ]
|
|
Accelerated filer
|
[x]
|
Non-accelerated filer
|
[ ]
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(Do not check if a smaller reporting company)
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Smaller reporting company
|
[ ]
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PART I - FINANCIAL INFORMATION
|
Page
|
|
|
|
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Item 1.
|
|
|
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||
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||
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||
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||
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Item 2.
|
||
Item 3.
|
||
Item 4.
|
||
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PART II - OTHER INFORMATION
|
|
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Item 1.
|
||
Item 1A.
|
||
Item 2.
|
||
Item 6.
|
||
Signatures
|
|
|
September 24, 2016
|
|
December 26, 2015
|
||||
Assets
|
|
|
|
||||
Current assets:
|
|
|
|
||||
Cash and cash equivalents
|
$
|
55,833
|
|
|
$
|
61,240
|
|
Short-term investments
|
15,000
|
|
|
—
|
|
||
Accounts receivable (net of allowance of $120 and $125, respectively)
(1)
|
3,577
|
|
|
3,107
|
|
||
Unbilled accounts receivable
(2)
|
4,231
|
|
|
3,595
|
|
||
Prepaid expenses and other current assets
|
4,169
|
|
|
2,599
|
|
||
Current assets of discontinued operations
|
212
|
|
|
439
|
|
||
Total current assets
|
83,022
|
|
|
70,980
|
|
||
Property and equipment, net
|
5,272
|
|
|
6,371
|
|
||
Intangible assets, net
|
1,967
|
|
|
3,389
|
|
||
Goodwill
|
59,056
|
|
|
58,631
|
|
||
Other non-current assets
|
2,548
|
|
|
3,098
|
|
||
Non-current assets of discontinued operations
|
—
|
|
|
9
|
|
||
Total assets
|
$
|
151,865
|
|
|
$
|
142,478
|
|
|
|
|
|
||||
Liabilities and stockholders' equity
|
|
|
|
||||
Current liabilities:
|
|
|
|
||||
Accounts payable
(3)
|
$
|
2,987
|
|
|
$
|
3,189
|
|
Accrued expenses and other current liabilities
(4)
|
14,856
|
|
|
12,413
|
|
||
Deferred revenue
(5)
|
16,956
|
|
|
13,435
|
|
||
Current liabilities of discontinued operations
|
212
|
|
|
17,883
|
|
||
Total current liabilities
|
35,011
|
|
|
46,920
|
|
||
Deferred tax liability
|
4,003
|
|
|
3,166
|
|
||
Other non-current liabilities
|
4,898
|
|
|
4,140
|
|
||
Total liabilities
|
43,912
|
|
|
54,226
|
|
||
Contingencies (see Note 6)
|
—
|
|
|
—
|
|
||
Series A Redeemable Convertible Preferred Stock - 46 shares designated; 46 shares issued and outstanding at September 24, 2016; aggregate liquidation and redemption value of $46,966 at September 24, 2016
|
46,966
|
|
|
—
|
|
||
Stockholders' equity
|
|
|
|
||||
Preferred Stock: $0.001 par value - authorized 5,000 shares at September 24, 2016 and December 26, 2015, respectively
|
—
|
|
|
—
|
|
||
Common stock, $0.001 par value; 300,000 shares authorized; 28,770 and 32,276 shares issued and outstanding at September 24, 2016 and December 26, 2015 respectively
|
29
|
|
|
32
|
|
||
Additional paid-in capital
|
253,692
|
|
|
283,669
|
|
||
Accumulated deficit
|
(192,789
|
)
|
|
(194,854
|
)
|
||
Accumulated other comprehensive income (loss)
|
55
|
|
|
(595
|
)
|
||
Total stockholders' equity
|
60,987
|
|
|
88,252
|
|
||
Total liabilities, redeemable convertible preferred stock and stockholders' equity
|
$
|
151,865
|
|
|
$
|
142,478
|
|
|
Three Months Ended
|
|
Nine Months Ended
|
||||||||||||
|
September 24,
2016 |
|
September 26,
2015 |
|
September 24,
2016 |
|
September 26,
2015 |
||||||||
|
|
|
|
|
|
|
|
||||||||
Revenue
(1)
|
$
|
40,791
|
|
|
$
|
36,179
|
|
|
$
|
118,241
|
|
|
$
|
101,131
|
|
Cost of revenue
|
8,396
|
|
|
6,894
|
|
|
23,257
|
|
|
19,796
|
|
||||
Operating expenses:
|
|
|
|
|
|
|
|
||||||||
Selling and marketing
(2)
|
20,075
|
|
|
21,343
|
|
|
58,103
|
|
|
59,796
|
|
||||
Research and development
|
5,115
|
|
|
5,514
|
|
|
15,026
|
|
|
15,145
|
|
||||
General and administrative
|
7,445
|
|
|
7,199
|
|
|
23,197
|
|
|
22,301
|
|
||||
Depreciation and amortization
|
582
|
|
|
1,062
|
|
|
2,501
|
|
|
3,518
|
|
||||
Restructuring charges
|
—
|
|
|
—
|
|
|
714
|
|
|
—
|
|
||||
Total operating expenses
|
33,217
|
|
|
35,118
|
|
|
99,541
|
|
|
100,760
|
|
||||
Operating loss
|
(822
|
)
|
|
(5,833
|
)
|
|
(4,557
|
)
|
|
(19,425
|
)
|
||||
Other expense, net
|
(67
|
)
|
|
(272
|
)
|
|
(210
|
)
|
|
(976
|
)
|
||||
Loss from continuing operations before income taxes
|
(889
|
)
|
|
(6,105
|
)
|
|
(4,767
|
)
|
|
(20,401
|
)
|
||||
Provision for income taxes
|
332
|
|
|
259
|
|
|
952
|
|
|
1,164
|
|
||||
Loss from continuing operations
|
(1,221
|
)
|
|
(6,364
|
)
|
|
(5,719
|
)
|
|
(21,565
|
)
|
||||
(Loss) income from discontinued operations, net of tax (see note 3)
|
(49
|
)
|
|
(10,985
|
)
|
|
7,785
|
|
|
(15,032
|
)
|
||||
Net (loss) income
|
(1,270
|
)
|
|
(17,349
|
)
|
|
2,066
|
|
|
(36,597
|
)
|
||||
Accretion of Series A Redeemable Convertible Preferred Stock dividends
|
(616
|
)
|
|
—
|
|
|
(616
|
)
|
|
—
|
|
||||
Net (loss) income attributable to common stockholders
|
$
|
(1,886
|
)
|
|
$
|
(17,349
|
)
|
|
$
|
1,450
|
|
|
$
|
(36,597
|
)
|
|
|
|
|
|
|
|
|
||||||||
Net (loss) income per share attributable to common stockholders (Basic and diluted):
|
|
|
|
|
|
|
|
||||||||
Loss from continuing operations attributable to common stockholders
|
$
|
(0.06
|
)
|
|
$
|
(0.20
|
)
|
|
$
|
(0.20
|
)
|
|
$
|
(0.68
|
)
|
(Loss) income from discontinued operations attributable to common stockholders
|
—
|
|
|
(0.34
|
)
|
|
0.25
|
|
|
(0.47
|
)
|
||||
Net (loss) income per share attributable to common stockholders
|
$
|
(0.06
|
)
|
|
$
|
(0.54
|
)
|
|
$
|
0.05
|
|
|
$
|
(1.15
|
)
|
Weighted-average shares used to compute net (loss) income per share attributable to common stockholders:
|
|
|
|
|
|
|
|
||||||||
Basic and diluted
|
28,769
|
|
|
32,069
|
|
|
31,045
|
|
|
31,938
|
|
|
Three Months Ended
|
|
Nine Months Ended
|
||||||||||||
|
September 24,
2016 |
|
September 26,
2015 |
|
September 24,
2016 |
|
September 26,
2015 |
||||||||
|
|
|
|
|
|
|
|
||||||||
Net (loss) income
|
$
|
(1,270
|
)
|
|
$
|
(17,349
|
)
|
|
$
|
2,066
|
|
|
$
|
(36,597
|
)
|
|
|
|
|
|
|
|
|
||||||||
Other comprehensive income (loss):
|
|
|
|
|
|
|
|
||||||||
Foreign currency translation adjustments
|
277
|
|
|
150
|
|
|
650
|
|
|
(782
|
)
|
||||
Comprehensive (loss) income
|
$
|
(993
|
)
|
|
$
|
(17,199
|
)
|
|
$
|
2,716
|
|
|
$
|
(37,379
|
)
|
|
Nine Months Ended
|
||||||
|
September 24, 2016
|
|
September 26, 2015
|
||||
Cash flows from operating activities
|
|
|
|
||||
Net income (loss)
|
$
|
2,066
|
|
|
$
|
(36,597
|
)
|
Income (loss) from discontinued operations, net of tax
|
7,785
|
|
|
(15,032
|
)
|
||
Loss from continuing operations
|
(5,719
|
)
|
|
(21,565
|
)
|
||
Adjustments to reconcile net loss from continuing operations to net cash provided by (used in) operating activities:
|
|
|
|
||||
Stock-based compensation
|
4,765
|
|
|
3,769
|
|
||
Depreciation and amortization
|
3,070
|
|
|
4,066
|
|
||
Deferred taxes
|
837
|
|
|
1,053
|
|
||
Foreign currency remeasurement loss
|
351
|
|
|
983
|
|
||
Other non-cash operating income
|
(120
|
)
|
|
(42
|
)
|
||
Changes in operating assets and liabilities, net of effects from acquisitions:
|
|
|
|
||||
Accounts receivable
|
(486
|
)
|
|
(928
|
)
|
||
Unbilled accounts receivable
|
(635
|
)
|
|
(339
|
)
|
||
Prepaid expenses and other current assets
|
(1,015
|
)
|
|
1,626
|
|
||
Other non-current assets
|
—
|
|
|
(13
|
)
|
||
Accounts payable
|
(208
|
)
|
|
(2,335
|
)
|
||
Accrued expenses and other current liabilities
|
2,161
|
|
|
7,667
|
|
||
Deferred revenue
|
3,516
|
|
|
3,489
|
|
||
Other non-current liabilities
|
1,040
|
|
|
623
|
|
||
Net cash provided by (used in) operating activities by continuing operations
|
7,557
|
|
|
(1,946
|
)
|
||
Net cash provided by (used in) operating activities by discontinued operations
|
2,441
|
|
|
(4,505
|
)
|
||
Net cash provided by (used in) operating activities
|
9,998
|
|
|
(6,451
|
)
|
||
|
|
|
|
||||
Cash flows from investing activities
|
|
|
|
||||
Purchases of property and equipment
|
(152
|
)
|
|
(4,285
|
)
|
||
Payments for acquisitions, net of cash acquired
|
(420
|
)
|
|
—
|
|
||
Cash withheld for purchase consideration
|
—
|
|
|
73
|
|
||
Purchase of short-term investment
|
(15,000
|
)
|
|
—
|
|
||
Net cash used in investing activities by continuing operations
|
(15,572
|
)
|
|
(4,212
|
)
|
||
Net cash used in investing activities by discontinued operations
|
—
|
|
|
(2
|
)
|
||
Net cash used in investing activities
|
(15,572
|
)
|
|
(4,214
|
)
|
||
|
|
|
|
||||
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
|
1,113
|
|
|
630
|
|
||
Payments of contingent consideration previously established in purchase accounting
|
—
|
|
|
(1,840
|
)
|
||
Payment for repurchase of common stock
|
(30,525
|
)
|
|
—
|
|
||
Net cash provided by (used in) financing activities by continuing operations
|
14,814
|
|
|
(1,210
|
)
|
Net cash used in financing activities by discontinued operations
|
(14,510
|
)
|
|
—
|
|
||
Net cash provided by (used in) financing activities
|
304
|
|
|
(1,210
|
)
|
||
|
|
|
|
||||
Effect of exchange rate changes on cash and cash equivalents
|
(137
|
)
|
|
(270
|
)
|
||
Net decrease in cash and cash equivalents
|
(5,407
|
)
|
|
(12,145
|
)
|
||
Cash and cash equivalents, beginning of the period
|
61,240
|
|
|
71,881
|
|
||
Cash and cash equivalents, end of the period
|
$
|
55,833
|
|
|
$
|
59,736
|
|
|
|
|
|
||||
Supplemental disclosure of cash flow activities
|
|
|
|
||||
Cash paid for taxes
|
$
|
177
|
|
|
$
|
26
|
|
|
|
|
|
||||
Supplemental disclosure of non-cash operating, investing and financing activities
|
|
|
|
||||
Unpaid purchases of property and equipment
|
$
|
11
|
|
|
$
|
51
|
|
Series A Redeemable Convertible Preferred Stock dividend accretion
|
$
|
616
|
|
|
$
|
—
|
|
Issuance of common stock in connection with acquisitions
|
$
|
—
|
|
|
$
|
4,878
|
|
Fair value of common shares received from legal settlement (Note 3)
|
$
|
2,593
|
|
|
$
|
—
|
|
|
September 24, 2016
|
|
December 26, 2015
|
||||||||||||||||||||||||||||
|
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
|
$
|
20,465
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
20,465
|
|
|
$
|
25,420
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
25,420
|
|
Certificates of deposit
|
$
|
15,000
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
15,000
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
Total assets
|
$
|
35,465
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
35,465
|
|
|
$
|
25,420
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
25,420
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||
Liabilities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||
Contingent acquisition consideration (included in current liabilities of discontinued operations)
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
8,163
|
|
|
$
|
—
|
|
|
$
|
7,878
|
|
|
$
|
16,041
|
|
Total liabilities
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
8,163
|
|
|
$
|
—
|
|
|
$
|
7,878
|
|
|
$
|
16,041
|
|
|
September 24, 2016
|
||
|
Contingent Acquisition
Consideration |
||
|
|
||
Beginning balance (December 26, 2015)
|
$
|
7,878
|
|
Decrease in fair value included in earnings
|
(441
|
)
|
|
Contingent acquisition consideration payments
|
(7,437
|
)
|
|
Ending balance
|
$
|
—
|
|
|
Three Months Ended
|
|
Nine Months Ended
|
||||||||||||
|
September 24,
2016 |
|
September 26,
2015 |
|
September 24,
2016 |
|
September 26,
2015 |
||||||||
|
|
|
|
|
|
|
|
||||||||
Revenue
|
$
|
—
|
|
|
$
|
2,714
|
|
|
$
|
101
|
|
|
$
|
8,535
|
|
Cost of revenue
|
4
|
|
|
3,432
|
|
|
101
|
|
|
9,302
|
|
||||
Operating expenses:
|
|
|
|
|
|
|
|
||||||||
Selling and marketing
|
—
|
|
|
785
|
|
|
54
|
|
|
2,096
|
|
||||
Research and development
|
—
|
|
|
295
|
|
|
11
|
|
|
1,084
|
|
||||
General and administrative
|
45
|
|
|
396
|
|
|
(7,858
|
)
|
|
2,224
|
|
||||
Depreciation and amortization
|
—
|
|
|
25
|
|
|
8
|
|
|
95
|
|
||||
Impairment of goodwill and intangible assets
|
—
|
|
|
8,766
|
|
|
—
|
|
|
8,766
|
|
||||
Operating (loss) income
|
(49
|
)
|
|
(10,985
|
)
|
|
7,785
|
|
|
(15,032
|
)
|
||||
Other expense, net
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
(Loss) income from discontinued operations before income taxes
|
(49
|
)
|
|
(10,985
|
)
|
|
7,785
|
|
|
(15,032
|
)
|
||||
Provision for income tax
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
Net (loss) income from discontinued operations
|
$
|
(49
|
)
|
|
$
|
(10,985
|
)
|
|
$
|
7,785
|
|
|
$
|
(15,032
|
)
|
|
September 24, 2016
|
|
December 26, 2015
|
||||
Assets
|
|
|
|
||||
Accounts receivable
|
$
|
152
|
|
|
$
|
92
|
|
Prepaid expenses and other current assets
|
60
|
|
|
28
|
|
||
Inventory
|
—
|
|
|
319
|
|
||
Total current assets
|
212
|
|
|
439
|
|
||
Property and equipment, net
|
—
|
|
|
9
|
|
||
Total assets
|
$
|
212
|
|
|
$
|
448
|
|
|
|
|
|
||||
Liabilities
|
|
|
|
||||
Accounts payable
|
$
|
—
|
|
|
$
|
435
|
|
Accrued expenses and other liabilities
|
212
|
|
|
1,325
|
|
||
Deferred revenue
|
—
|
|
|
82
|
|
||
Current contingent acquisition consideration
|
—
|
|
|
16,041
|
|
||
Total liabilities
|
$
|
212
|
|
|
$
|
17,883
|
|
|
September 24,
2016 |
|
December 26,
2015 |
||||
|
|
|
|
||||
Computer equipment
|
$
|
2,349
|
|
|
$
|
2,236
|
|
Furniture and fixtures
|
1,572
|
|
|
1,611
|
|
||
Software
|
1,375
|
|
|
1,374
|
|
||
Leasehold improvements
|
3,857
|
|
|
3,847
|
|
||
Total
|
9,153
|
|
|
9,068
|
|
||
Less accumulated depreciation
|
(3,881
|
)
|
|
(2,697
|
)
|
||
Property and equipment, net
|
$
|
5,272
|
|
|
$
|
6,371
|
|
|
September 24,
2016 |
|
December 26,
2015 |
||||
|
|
|
|
||||
Payroll and compensation
|
$
|
4,262
|
|
|
$
|
5,167
|
|
Marketing expenses
|
5,913
|
|
|
3,451
|
|
||
Other accrued expenses
|
4,681
|
|
|
3,795
|
|
||
Total accrued expenses and other current liabilities
|
$
|
14,856
|
|
|
$
|
12,413
|
|
Balance as of December 26, 2015
|
$
|
58,631
|
|
Effect of currency translation
|
425
|
|
|
Balance as of September 24, 2016
|
$
|
59,056
|
|
|
Gross Carrying Value
|
|
Accumulated Amortization
|
|
Net Carrying Value
|
|
Weighted-Average Remaining Life (Years)
|
||||||
|
|
|
|
|
|
|
|
||||||
September 24, 2016
|
|
|
|
|
|
|
|
||||||
Indefinite lived intangibles
|
$
|
242
|
|
|
$
|
—
|
|
|
$
|
242
|
|
|
N/A
|
Trademarks and trade names
|
4,431
|
|
|
(4,201
|
)
|
|
230
|
|
|
2.8
|
|||
Proprietary software
|
5,211
|
|
|
(4,408
|
)
|
|
803
|
|
|
1.4
|
|||
Website
|
50
|
|
|
(50
|
)
|
|
—
|
|
|
0.0
|
|||
Training materials
|
30
|
|
|
(30
|
)
|
|
—
|
|
|
0.0
|
|||
Non-compete agreements
|
131
|
|
|
(121
|
)
|
|
10
|
|
|
0.9
|
|||
Leasehold interests
|
170
|
|
|
(105
|
)
|
|
65
|
|
|
2.6
|
|||
Caregiver relationships
|
291
|
|
|
(291
|
)
|
|
—
|
|
|
0.0
|
|||
Customer relationships
|
8,798
|
|
|
(8,181
|
)
|
|
617
|
|
|
6.4
|
|||
Total
|
$
|
19,354
|
|
|
$
|
(17,387
|
)
|
|
$
|
1,967
|
|
|
|
|
|
|
|
|
|
|
|
||||||
December 26, 2015
|
|
|
|
|
|
|
|
||||||
Indefinite lived intangibles
|
$
|
242
|
|
|
$
|
—
|
|
|
$
|
242
|
|
|
N/A
|
Trademarks and trade names
|
4,417
|
|
|
(4,133
|
)
|
|
284
|
|
|
3.5
|
|||
Proprietary software
|
4,751
|
|
|
(3,802
|
)
|
|
949
|
|
|
1.6
|
|||
Website
|
50
|
|
|
(44
|
)
|
|
6
|
|
|
0.6
|
|||
Training materials
|
30
|
|
|
(30
|
)
|
|
—
|
|
|
0.0
|
|||
Non-compete agreements
|
130
|
|
|
(111
|
)
|
|
19
|
|
|
1.6
|
|||
Leasehold interests
|
170
|
|
|
(86
|
)
|
|
84
|
|
|
3.4
|
|||
Caregiver relationships
|
285
|
|
|
(285
|
)
|
|
—
|
|
|
0.0
|
|||
Customer relationships
|
8,782
|
|
|
(6,977
|
)
|
|
1,805
|
|
|
3.1
|
|||
Total
|
$
|
18,857
|
|
|
$
|
(15,468
|
)
|
|
$
|
3,389
|
|
|
|
2016 remaining
|
241
|
|
|
2017
|
689
|
|
|
2018
|
344
|
|
|
2019
|
146
|
|
|
2020
|
96
|
|
|
Thereafter
|
209
|
|
|
Total
|
$
|
1,725
|
|
|
Three Months Ended
|
|
Nine Months Ended
|
||||||||||||
|
September 24, 2016
|
|
September 26, 2015
|
|
September 24, 2016
|
|
September 26, 2015
|
||||||||
|
|
|
|
|
|
|
|
||||||||
Cost of revenue
|
$
|
79
|
|
|
$
|
75
|
|
|
$
|
233
|
|
|
$
|
171
|
|
Selling and marketing
|
232
|
|
|
250
|
|
|
646
|
|
|
662
|
|
||||
Research and development
|
284
|
|
|
260
|
|
|
793
|
|
|
575
|
|
||||
General and administrative
|
1,156
|
|
|
890
|
|
|
3,093
|
|
|
2,361
|
|
||||
(Loss) income from discontinued operations
|
—
|
|
|
109
|
|
|
8
|
|
|
410
|
|
||||
Total stock-based compensation
|
$
|
1,751
|
|
|
$
|
1,584
|
|
|
$
|
4,773
|
|
|
$
|
4,179
|
|
|
Nine Months Ended
|
||
|
September 24,
2016 |
|
September 26,
2015 |
Risk-free interest rate
|
1.19 - 1.63%
|
|
N/A
|
Expected term (years)
|
6.25
|
|
N/A
|
Volatility
|
33.8 - 38.2%
|
|
N/A
|
Expected dividend yield
|
—
|
|
N/A
|
|
|
|
|
|
|
|
|
|
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 26, 2015
|
3,482
|
|
|
5.93
|
|
$
|
6.52
|
|
|
$
|
8,891
|
|
|
1,306
|
|
|
$
|
7.42
|
|
Granted
(1)
|
1,410
|
|
|
|
|
$
|
6.88
|
|
|
|
|
1,127
|
|
|
6.75
|
|
|||
Settled (RSUs)
|
—
|
|
|
|
|
—
|
|
|
|
|
(385
|
)
|
|
7.30
|
|
||||
Exercised
|
(278
|
)
|
|
|
|
$
|
4.01
|
|
|
|
|
—
|
|
|
—
|
|
|||
Canceled and forfeited
|
(170
|
)
|
|
|
|
$
|
11.38
|
|
|
|
|
(108
|
)
|
|
6.89
|
|
|||
Outstanding as of September 24, 2016
|
4,444
|
|
|
6.77
|
|
$
|
6.60
|
|
|
$
|
21,034
|
|
|
1,940
|
|
|
$
|
7.08
|
|
Vested and exercisable as of September 24, 2016
|
2,869
|
|
|
5.54
|
|
$
|
5.72
|
|
|
$
|
15,995
|
|
|
N/A
|
|
N/A
|
|||
Vested and expected to vest as of September 24, 2016
(2)
|
4,205
|
|
|
6.62
|
|
$
|
6.54
|
|
|
$
|
20,230
|
|
|
1,252
|
|
|
$
|
7.21
|
|
|
September 24, 2016
|
|
Options issued and outstanding
|
4,444
|
|
Restricted stock units issued and outstanding
|
1,940
|
|
Common stock available for stock-based award grants under incentive award plans
|
2,370
|
|
Common stock available for conversion of Series A Redeemable Convertible Preferred Stock
|
4,473
|
|
Total
|
13,227
|
|
|
Three Months Ended
|
|
Nine Months Ended
|
||||||||||||
|
September 24, 2016
|
|
September 26, 2015
|
|
September 24, 2016
|
|
September 26, 2015
|
||||||||
Numerators:
|
|
|
|
|
|
|
|
||||||||
Loss from continuing operations
|
$
|
(1,221
|
)
|
|
$
|
(6,364
|
)
|
|
$
|
(5,719
|
)
|
|
$
|
(21,565
|
)
|
Accretion of Series A Redeemable Convertible Preferred Stock dividends
|
(616
|
)
|
|
—
|
|
|
(616
|
)
|
|
—
|
|
||||
Net loss from continuing operations attributable to common stockholders - basic and diluted
|
(1,837
|
)
|
|
(6,364
|
)
|
|
(6,335
|
)
|
|
(21,565
|
)
|
||||
(Loss) income from discontinued operations attributable to common stockholders - basic and diluted
|
(49
|
)
|
|
(10,985
|
)
|
|
7,785
|
|
|
(15,032
|
)
|
||||
Net (loss) income attributable to common stockholders
|
$
|
(1,886
|
)
|
|
$
|
(17,349
|
)
|
|
$
|
1,450
|
|
|
$
|
(36,597
|
)
|
|
|
|
|
|
|
|
|
||||||||
Denominator:
|
|
|
|
|
|
|
|
||||||||
Weighted-average shares outstanding - basic and diluted
|
28,769
|
|
|
32,069
|
|
|
31,045
|
|
|
31,938
|
|
||||
|
|
|
|
|
|
|
|
||||||||
Net (loss) income per share attributable to common stockholders (Basic and diluted):
|
|
|
|
|
|
|
|
||||||||
Loss from continuing operations attributable to common stockholders
|
$
|
(0.06
|
)
|
|
$
|
(0.20
|
)
|
|
$
|
(0.20
|
)
|
|
$
|
(0.68
|
)
|
(Loss) income from discontinued operations attributable to common stockholders
|
—
|
|
|
(0.34
|
)
|
|
0.25
|
|
|
(0.47
|
)
|
||||
Net (loss) income per share attributable to common stockholders
|
$
|
(0.06
|
)
|
|
$
|
(0.54
|
)
|
|
$
|
0.05
|
|
|
$
|
(1.15
|
)
|
|
Three Months Ended
|
|
Nine Months Ended
|
||||||||
|
September 24,
2016 |
|
September 26,
2015 |
|
September 24,
2016 |
|
September 26,
2015 |
||||
Stock options
|
4,444
|
|
|
3,804
|
|
|
4,444
|
|
|
3,804
|
|
Restricted stock units
|
1,940
|
|
|
1,667
|
|
|
1,940
|
|
|
1,667
|
|
Contingent consideration
|
—
|
|
|
106
|
|
|
—
|
|
|
106
|
|
Series A Redeemable Convertible Preferred Stock (as converted to common stock)
|
4,473
|
|
|
—
|
|
|
4,473
|
|
|
—
|
|
|
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)
|
|||
Series A
|
46,350
|
|
|
June 29, 2016
|
|
46,350
|
|
|
$67,763
|
|
$46,966
|
|
6,453,660
|
|
|
Three Months Ended
|
|
Nine Months Ended
|
||||||||||||
|
September 24,
2016 |
|
September 26,
2015 |
|
September 24,
2016 |
|
September 26,
2015 |
||||||||
United States
|
$
|
37,293
|
|
|
$
|
33,340
|
|
|
$
|
107,993
|
|
|
$
|
92,835
|
|
International
|
3,498
|
|
|
2,839
|
|
|
10,248
|
|
|
8,296
|
|
||||
Total revenue
|
$
|
40,791
|
|
|
$
|
36,179
|
|
|
$
|
118,241
|
|
|
$
|
101,131
|
|
|
Three Months Ended
|
|
Nine Months Ended
|
||||||||
|
September 24,
2016 |
|
September 26,
2015 |
|
September 24,
2016 |
|
September 26,
2015 |
||||
|
(As a percentage of revenue)
|
||||||||||
United States
|
91
|
%
|
|
92
|
%
|
|
91
|
%
|
|
92
|
%
|
International
|
9
|
%
|
|
8
|
%
|
|
9
|
%
|
|
8
|
%
|
Total revenue
|
100
|
%
|
|
100
|
%
|
|
100
|
%
|
|
100
|
%
|
|
September 24, 2016
|
||
|
Restructuring Liability
|
||
Balance as of December 26, 2015
|
$
|
—
|
|
Restructuring charges
|
714
|
|
|
Payments
|
(258
|
)
|
|
Changes in estimate
|
(10
|
)
|
|
Accretion of sublease liability
|
(51
|
)
|
|
Balance as of September 24, 2016
|
$
|
395
|
|
|
Three Months Ended
|
|
Nine Months Ended
|
||||||||||||
|
September 24,
2016 |
|
September 26,
2015 |
|
September 24,
2016 |
|
September 26,
2015 |
||||||||
Interest income
|
$
|
80
|
|
|
$
|
—
|
|
|
$
|
151
|
|
|
$
|
86
|
|
Interest expense
|
(1
|
)
|
|
19
|
|
|
(3
|
)
|
|
(63
|
)
|
||||
Gain (loss) on exchange
|
(147
|
)
|
|
(287
|
)
|
|
(358
|
)
|
|
(992
|
)
|
||||
Other income (expense), net
|
1
|
|
|
(4
|
)
|
|
—
|
|
|
(7
|
)
|
||||
Total expense, net
|
$
|
(67
|
)
|
|
$
|
(272
|
)
|
|
$
|
(210
|
)
|
|
$
|
(976
|
)
|
ITEM 2.
|
MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
|
|
As of
|
||||||
|
September 24,
2016 |
|
September 26,
2015 |
||||
Total members
|
21,968
|
|
|
17,827
|
|
||
Total families
|
12,383
|
|
|
10,112
|
|
||
Total caregivers
|
9,585
|
|
|
7,715
|
|
||
Paying families - U.S. Consumer Business
|
291
|
|
|
296
|
|
||
Monthly average revenue per paying family - U.S. Consumer Business
|
$
|
39
|
|
|
$
|
37
|
|
•
|
adjusted EBITDA does not include accretion of Series A Redeemable Convertible Preferred Stock dividends;
|
|
Three Months Ended
|
|
Nine Months Ended
|
||||||||||||
|
September 24,
2016 |
|
September 26,
2015 |
|
September 24,
2016 |
|
September 26,
2015 |
||||||||
Loss from continuing operations
|
$
|
(1,221
|
)
|
|
$
|
(6,364
|
)
|
|
$
|
(5,719
|
)
|
|
$
|
(21,565
|
)
|
|
|
|
|
|
|
|
|
||||||||
Federal, state and franchise taxes
|
395
|
|
|
310
|
|
|
1,211
|
|
|
1,302
|
|
||||
Other expense, net
|
67
|
|
|
272
|
|
|
210
|
|
|
976
|
|
||||
Depreciation and amortization
|
756
|
|
|
1,229
|
|
|
3,070
|
|
|
4,066
|
|
||||
EBITDA
|
(3
|
)
|
|
(4,553
|
)
|
|
(1,228
|
)
|
|
(15,221
|
)
|
||||
|
|
|
|
|
|
|
|
||||||||
Stock-based compensation
|
1,751
|
|
|
1,475
|
|
|
4,765
|
|
|
3,769
|
|
||||
Merger and acquisition related costs
|
26
|
|
|
32
|
|
|
100
|
|
|
135
|
|
||||
Restructuring related costs
|
—
|
|
|
—
|
|
|
714
|
|
|
—
|
|
||||
Adjusted EBITDA
|
$
|
1,774
|
|
|
$
|
(3,046
|
)
|
|
$
|
4,351
|
|
|
$
|
(11,317
|
)
|
|
Three Months Ended
|
|
Nine Months Ended
|
||||||||||||
|
September 24,
2016 |
|
September 26,
2015 |
|
September 24,
2016 |
|
September 26,
2015 |
||||||||
|
|
|
|
|
|
|
|
||||||||
Revenue
|
$
|
40,791
|
|
|
$
|
36,179
|
|
|
$
|
118,241
|
|
|
$
|
101,131
|
|
Cost of revenue
|
8,396
|
|
|
6,894
|
|
|
23,257
|
|
|
19,796
|
|
||||
Operating expenses:
|
|
|
|
|
|
|
|
||||||||
Selling and marketing
|
20,075
|
|
|
21,343
|
|
|
58,103
|
|
|
59,796
|
|
||||
Research and development
|
5,115
|
|
|
5,514
|
|
|
15,026
|
|
|
15,145
|
|
||||
General and administrative
|
7,445
|
|
|
7,199
|
|
|
23,197
|
|
|
22,301
|
|
||||
Depreciation and amortization
|
582
|
|
|
1,062
|
|
|
2,501
|
|
|
3,518
|
|
||||
Restructuring charges
|
—
|
|
|
—
|
|
|
714
|
|
|
—
|
|
||||
Total operating expenses
|
33,217
|
|
|
35,118
|
|
|
99,541
|
|
|
100,760
|
|
||||
Operating loss
|
(822
|
)
|
|
(5,833
|
)
|
|
(4,557
|
)
|
|
(19,425
|
)
|
||||
Other expense, net
|
(67
|
)
|
|
(272
|
)
|
|
(210
|
)
|
|
(976
|
)
|
||||
Loss from continuing operations before income taxes
|
(889
|
)
|
|
(6,105
|
)
|
|
(4,767
|
)
|
|
(20,401
|
)
|
||||
Provision for income taxes
|
332
|
|
|
259
|
|
|
952
|
|
|
1,164
|
|
||||
Loss from continuing operations
|
(1,221
|
)
|
|
(6,364
|
)
|
|
(5,719
|
)
|
|
(21,565
|
)
|
||||
(Loss) income from discontinued operations, net of tax
|
(49
|
)
|
|
(10,985
|
)
|
|
7,785
|
|
|
(15,032
|
)
|
||||
Net (loss) income
|
(1,270
|
)
|
|
(17,349
|
)
|
|
2,066
|
|
|
(36,597
|
)
|
||||
Accretion of Series A Redeemable Convertible Preferred Stock dividends
|
(616
|
)
|
|
—
|
|
|
(616
|
)
|
|
—
|
|
||||
Net (loss) income attributable to common stockholders
|
$
|
(1,886
|
)
|
|
$
|
(17,349
|
)
|
|
$
|
1,450
|
|
|
$
|
(36,597
|
)
|
Net (loss) income per share attributable to common stockholders (Basic and diluted):
|
|
|
|
|
|
|
|
||||||||
Loss from continuing operations attributable to common stockholders
|
$
|
(0.06
|
)
|
|
$
|
(0.20
|
)
|
|
$
|
(0.20
|
)
|
|
$
|
(0.68
|
)
|
(Loss) income from discontinued operations attributable to common stockholders
|
—
|
|
|
(0.34
|
)
|
|
0.25
|
|
|
(0.47
|
)
|
||||
Net (loss) income per share attributable to common stockholders
|
$
|
(0.06
|
)
|
|
$
|
(0.54
|
)
|
|
$
|
0.05
|
|
|
$
|
(1.15
|
)
|
Weighted-average shares used to compute net (loss) income per share attributable to common stockholders:
|
|
|
|
|
|
|
|
||||||||
Basic and diluted
|
28,769
|
|
|
32,069
|
|
|
31,045
|
|
|
31,938
|
|
|
Three Months Ended
|
|
Nine Months Ended
|
||||||||||||
|
September 24,
2016 |
|
September 26,
2015 |
|
September 24,
2016 |
|
September 26,
2015 |
||||||||
|
|
|
|
|
|
|
|
||||||||
Cost of revenue
|
$
|
79
|
|
|
$
|
75
|
|
|
$
|
233
|
|
|
$
|
171
|
|
Selling and marketing
|
232
|
|
|
250
|
|
|
646
|
|
|
662
|
|
||||
Research and development
|
284
|
|
|
260
|
|
|
793
|
|
|
575
|
|
||||
General and administrative
|
1,156
|
|
|
890
|
|
|
3,093
|
|
|
2,361
|
|
||||
(Loss) income from discontinued operations
|
—
|
|
|
109
|
|
|
8
|
|
|
410
|
|
||||
Total stock-based compensation
|
$
|
1,751
|
|
|
$
|
1,584
|
|
|
$
|
4,773
|
|
|
$
|
4,179
|
|
|
Three Months Ended
|
|
Nine Months Ended
|
||||||||
|
September 24,
2016 |
|
September 26,
2015 |
|
September 24,
2016 |
|
September 26,
2015 |
||||
Revenue
|
100
|
%
|
|
100
|
%
|
|
100
|
%
|
|
100
|
%
|
Cost of revenue
|
21
|
%
|
|
19
|
%
|
|
20
|
%
|
|
20
|
%
|
Operating expenses:
|
|
|
|
|
|
|
|
||||
Selling and marketing
|
49
|
%
|
|
59
|
%
|
|
49
|
%
|
|
59
|
%
|
Research and development
|
13
|
%
|
|
15
|
%
|
|
13
|
%
|
|
15
|
%
|
General and administrative
|
18
|
%
|
|
20
|
%
|
|
20
|
%
|
|
22
|
%
|
Depreciation and amortization
|
1
|
%
|
|
3
|
%
|
|
2
|
%
|
|
3
|
%
|
Restructuring charges
|
—
|
%
|
|
—
|
%
|
|
1
|
%
|
|
—
|
%
|
Total operating expenses
|
81
|
%
|
|
97
|
%
|
|
84
|
%
|
|
100
|
%
|
Operating loss
|
(2
|
)%
|
|
(16
|
)%
|
|
(4
|
)%
|
|
(19
|
)%
|
Other expense, net
|
—
|
%
|
|
(1
|
)%
|
|
—
|
%
|
|
(1
|
)%
|
Loss from continuing operations before income taxes
|
(2
|
)%
|
|
(17
|
)%
|
|
(4
|
)%
|
|
(20
|
)%
|
Provision for income taxes
|
1
|
%
|
|
1
|
%
|
|
1
|
%
|
|
1
|
%
|
Loss from continuing operations
|
(3
|
)%
|
|
(18
|
)%
|
|
(5
|
)%
|
|
(21
|
)%
|
(Loss) income from discontinued operations, net of tax
|
—
|
%
|
|
(30
|
)%
|
|
7
|
%
|
|
(15
|
)%
|
Net (loss) income
|
(3
|
)%
|
|
(48
|
)%
|
|
2
|
%
|
|
(36
|
)%
|
Accretion of Series A Redeemable Convertible Preferred Stock dividends
|
(2
|
)%
|
|
—
|
%
|
|
(1
|
)%
|
|
—
|
%
|
Net (loss) income attributable to common stockholders
|
(5
|
)%
|
|
(48
|
)%
|
|
1
|
%
|
|
(36
|
)%
|
|
Three Months Ended
|
|
Period-to-Period Change
|
|
Nine Months Ended
|
|
Period-to-Period Change
|
||||||||||||||||||||||
|
September 24,
2016 |
|
September 26,
2015 |
|
$ Change
|
|
% Change
|
|
September 24,
2016 |
|
September 26,
2015 |
|
$ Change
|
|
% Change
|
||||||||||||||
|
(in thousands, except percentages)
|
||||||||||||||||||||||||||||
Revenue
|
$
|
40,791
|
|
|
$
|
36,179
|
|
|
$
|
4,612
|
|
|
13
|
%
|
|
$
|
118,241
|
|
|
$
|
101,131
|
|
|
$
|
17,110
|
|
|
17
|
%
|
|
Three Months Ended
|
|
Period-to-Period Change
|
|
Nine Months Ended
|
|
Period-to-Period Change
|
||||||||||||||||||||||
|
September 24,
2016 |
|
September 26,
2015 |
|
$ Change
|
|
% Change
|
|
September 24,
2016 |
|
September 26,
2015 |
|
$ Change
|
|
% Change
|
||||||||||||||
|
(in thousands, except percentages)
|
||||||||||||||||||||||||||||
Cost of revenue
|
$
|
8,396
|
|
|
$
|
6,894
|
|
|
$
|
1,502
|
|
|
22
|
%
|
|
$
|
23,257
|
|
|
$
|
19,796
|
|
|
$
|
3,461
|
|
|
17
|
%
|
Percentage of revenue
|
21
|
%
|
|
19
|
%
|
|
|
|
|
|
20
|
%
|
|
20
|
%
|
|
|
|
|
|
Three Months Ended
|
|
Period-to-Period Change
|
|
Nine Months Ended
|
|
Period-to-Period Change
|
||||||||||||||||||||||
|
September 24,
2016 |
|
September 26,
2015 |
|
$ Change
|
|
% Change
|
|
September 24,
2016 |
|
September 26,
2015 |
|
$ Change
|
|
% Change
|
||||||||||||||
|
(in thousands, except percentages)
|
||||||||||||||||||||||||||||
Selling and marketing
|
$
|
20,075
|
|
|
$
|
21,343
|
|
|
$
|
(1,268
|
)
|
|
(6
|
)%
|
|
$
|
58,103
|
|
|
$
|
59,796
|
|
|
$
|
(1,693
|
)
|
|
(3
|
)%
|
Percentage of revenue
|
49
|
%
|
|
59
|
%
|
|
|
|
|
|
49
|
%
|
|
59
|
%
|
|
|
|
|
|
Three Months Ended
|
|
Period-to-Period Change
|
|
Nine Months Ended
|
|
Period-to-Period Change
|
||||||||||||||||||||||
|
September 24,
2016 |
|
September 26,
2015 |
|
$ Change
|
|
% Change
|
|
September 24,
2016 |
|
September 26,
2015 |
|
$ Change
|
|
% Change
|
||||||||||||||
|
(in thousands, except percentages)
|
||||||||||||||||||||||||||||
Research and development
|
$
|
5,115
|
|
|
$
|
5,514
|
|
|
$
|
(399
|
)
|
|
(7
|
)%
|
|
$
|
15,026
|
|
|
$
|
15,145
|
|
|
$
|
(119
|
)
|
|
(1
|
)%
|
Percentage of revenue
|
13
|
%
|
|
15
|
%
|
|
|
|
|
|
13
|
%
|
|
15
|
%
|
|
|
|
|
|
Three Months Ended
|
|
Period-to-Period Change
|
|
Nine Months Ended
|
|
Period-to-Period Change
|
||||||||||||||||||||||
|
September 24,
2016 |
|
September 26,
2015 |
|
$ Change
|
|
% Change
|
|
September 24,
2016 |
|
September 26,
2015 |
|
$ Change
|
|
% Change
|
||||||||||||||
|
(in thousands, except percentages)
|
||||||||||||||||||||||||||||
General and administrative
|
$
|
7,445
|
|
|
$
|
7,199
|
|
|
$
|
246
|
|
|
3
|
%
|
|
$
|
23,197
|
|
|
$
|
22,301
|
|
|
$
|
896
|
|
|
4
|
%
|
Percentage of revenue
|
18
|
%
|
|
20
|
%
|
|
|
|
|
|
20
|
%
|
|
22
|
%
|
|
|
|
|
|
Three Months Ended
|
|
Period-to-Period Change
|
|
Nine Months Ended
|
|
Period-to-Period Change
|
||||||||||||||||||||||
|
September 24,
2016 |
|
September 26,
2015 |
|
$ Change
|
|
% Change
|
|
September 24,
2016 |
|
September 26,
2015 |
|
$ Change
|
|
% Change
|
||||||||||||||
|
(in thousands, except percentages)
|
||||||||||||||||||||||||||||
Depreciation and amortization
|
$
|
582
|
|
|
$
|
1,062
|
|
|
$
|
(480
|
)
|
|
(45
|
)%
|
|
$
|
2,501
|
|
|
$
|
3,518
|
|
|
$
|
(1,017
|
)
|
|
(29
|
)%
|
Percentage of revenue
|
1
|
%
|
|
3
|
%
|
|
|
|
|
|
2
|
%
|
|
3
|
%
|
|
|
|
|
|
Three Months Ended
|
|
Period-to-Period Change
|
|
Nine Months Ended
|
|
Period-to-Period Change
|
||||||||||||||||||||||
|
September 24, 2016
|
|
September 26, 2015
|
|
$ Change
|
|
% Change
|
|
September 24, 2016
|
|
September 26, 2015
|
|
$ Change
|
|
% Change
|
||||||||||||||
|
(in thousands, except percentages)
|
||||||||||||||||||||||||||||
Restructuring charges
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
100
|
%
|
|
$
|
714
|
|
|
$
|
—
|
|
|
$
|
714
|
|
|
100
|
%
|
Percentage of revenue
|
—
|
%
|
|
—
|
%
|
|
|
|
|
|
1
|
%
|
|
—
|
%
|
|
|
|
|
|
Three Months Ended
|
|
Period-to-Period Change
|
|
Nine Months Ended
|
|
Period-to-Period Change
|
||||||||||||||||||||||
|
September 24,
2016 |
|
September 26,
2015 |
|
$ Change
|
|
% Change
|
|
September 24,
2016 |
|
September 26,
2015 |
|
$ Change
|
|
% Change
|
||||||||||||||
|
(in thousands, except percentages)
|
||||||||||||||||||||||||||||
Other expense, net
|
$
|
(67
|
)
|
|
$
|
(272
|
)
|
|
$
|
205
|
|
|
(75
|
)%
|
|
$
|
(210
|
)
|
|
$
|
(976
|
)
|
|
$
|
766
|
|
|
(78
|
)%
|
Percentage of revenue
|
—
|
%
|
|
(1
|
)%
|
|
|
|
|
|
—
|
%
|
|
(1
|
)%
|
|
|
|
|
|
Three Months Ended
|
|
Period-to-Period Change
|
|
Nine Months Ended
|
|
Period-to-Period Change
|
||||||||||||||||||||||
|
September 24,
2016 |
|
September 26,
2015 |
|
$ Change
|
|
% Change
|
|
September 24,
2016 |
|
September 26,
2015 |
|
$ Change
|
|
% Change
|
||||||||||||||
|
(in thousands, except percentages)
|
||||||||||||||||||||||||||||
Provision for income taxes
|
$
|
332
|
|
|
$
|
259
|
|
|
$
|
73
|
|
|
28
|
%
|
|
$
|
952
|
|
|
$
|
1,164
|
|
|
$
|
(212
|
)
|
|
(18
|
)%
|
Percentage of revenue
|
1
|
%
|
|
1
|
%
|
|
|
|
|
|
1
|
%
|
|
1
|
%
|
|
|
|
|
|
Three Months Ended
|
|
Period-to-Period Change
|
|
Nine Months Ended
|
|
Period-to-Period Change
|
||||||||||||||||||||||
|
September 24,
2016 |
|
September 26,
2015 |
|
$ Change
|
|
% Change
|
|
September 24,
2016 |
|
September 26,
2015 |
|
$ Change
|
|
% Change
|
||||||||||||||
|
(in thousands, except percentages)
|
|
|
||||||||||||||||||||||||||
(Loss) income from discontinued operations, net of tax
|
$
|
(49
|
)
|
|
$
|
(10,985
|
)
|
|
$
|
10,936
|
|
|
(100
|
)%
|
|
$
|
7,785
|
|
|
$
|
(15,032
|
)
|
|
$
|
22,817
|
|
|
(152
|
)%
|
Percentage of revenue
|
—
|
%
|
|
(30
|
)%
|
|
|
|
|
|
7
|
%
|
|
(15
|
)%
|
|
|
|
|
|
Nine Months Ended
|
||||||
|
September 24,
2016 |
|
September 26,
2015 |
||||
Cash flow provided by (used in):
|
|
|
|
||||
Operating activities - continuing operations
|
$
|
7,557
|
|
|
$
|
(1,946
|
)
|
Operating activities - discontinued operations
|
2,441
|
|
|
(4,505
|
)
|
||
Investing activities - continuing operations
|
(15,572
|
)
|
|
(4,212
|
)
|
||
Investing activities - discontinued operations
|
—
|
|
|
(2
|
)
|
||
Financing activities - continuing operations
|
14,814
|
|
|
(1,210
|
)
|
||
Financing activities - discontinued operations
|
(14,510
|
)
|
|
—
|
|
||
Effect of exchange rates on cash balances
|
(137
|
)
|
|
(270
|
)
|
||
Decrease in cash and cash equivalents
|
$
|
(5,407
|
)
|
|
$
|
(12,145
|
)
|
|
Total Number of Shares Purchased (1)
|
Average Price Paid Per Share
|
Total Number of Shares Purchased As Part of Publicly Announced Plans or Programs
|
Maximum Number (or Approximate Dollar Value) of Shares That May Yet Be Purchased Under the Plans or Programs
|
|||||
Period of Repurchase
|
|
|
|
|
|||||
June 26, 2016 - July 23, 2016
|
3,700,000
|
|
$
|
8.25
|
|
—
|
|
—
|
|
July 24, 2016 - August 20, 2016
|
—
|
|
$
|
—
|
|
—
|
|
—
|
|
August 21, 2016 - September 24, 2016
|
—
|
|
$
|
—
|
|
—
|
|
—
|
|
Total
|
3,700,000
|
|
|
—
|
|
—
|
|
|
|
|
CARE.COM, INC.
|
|
|
|
|
Dated: November 1, 2016
|
|
|
By:
/s/ SHEILA LIRIO MARCELO
|
|
|
|
Sheila Lirio Marcelo
|
|
|
|
President and Chief Executive Officer
|
|
|
|
(Principal Executive Officer)
|
|
|
|
|
Dated: November 1, 2016
|
|
|
By:
/s/ MICHAEL ECHENBERG
|
|
|
|
Michael Echenberg
|
|
|
|
Executive Vice President and Chief Financial Officer
|
|
|
|
(Principal Financial and Accounting Officer)
|
|
|
|
|
|
|
|
|
|
|
Incorporated by Reference
|
||||
Exhibit Number
|
|
Exhibit Description
|
|
Filed with this Form 10-Q
|
|
Form
|
|
Filing Date
with SEC
|
|
Exhibit Number
|
3.1
|
|
Convertible Preferred Stock Series A Certificate of Designations, dated as of June 29, 2016
|
|
|
|
8-K
|
|
6/29/2016
|
|
3.1
|
10.1
|
|
Investment Agreement, dated as of June 29, 2016, by and between Care.com, Inc. and Google Capital 2016, L.P.
|
|
|
|
8-K
|
|
6/29/2016
|
|
10.1
|
10.2
|
|
Stock Repurchase Agreement, dated as of June 27, 2016, by and among Care.com, Inc., Matrix Partners VII, L.P. and Weston & Co. VII LLC, as Nominee
|
|
|
|
8-K
|
|
6/29/2016
|
|
10.2
|
31.1
|
|
Certification of Principal Executive Officer Required Under Rule 13a-14(a) and 15d-14(a) of the Securities Exchange Act of 1934, as amended.
|
|
X
|
|
|
|
|
|
|
31.2
|
|
Certification of Principal Financial Officer Required Under Rule 13a-14(a) and 15d-14(a) of the Securities Exchange Act of 1934, as amended.
|
|
X
|
|
|
|
|
|
|
32.1
|
|
Certification of Principal Executive Officer and Principal Financial Officer Required Under Rule 13a-14(b) of the Securities Exchange Act of 1934, as amended, and 18 U.S.C. §1350.
|
|
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 Year Care com Chart |
1 Month Care com Chart |
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