Annual report pursuant to Section 13 and 15(d)

Basis of Presentation and Summary of Significant Accounting Policies (Tables)

v3.20.1
Basis of Presentation and Summary of Significant Accounting Policies (Tables)
12 Months Ended
Dec. 31, 2019
Accounting Policies [Abstract]  
Summary of Restated Adjustment of Financial Statements

The impact of the adoption of Topic 606 our balance sheet as of January 1, 2019 was as follows (in thousands):

 

 

December 31, 2018

 

 

Adjustments Due to

the Adoption of

Topic 606

Increase/(Decrease)

 

 

January 1, 2019

 

 

 

(in thousands)

 

Accounts receivable

 

$

2,489

 

 

$

 

 

$

2,489

 

Total current assets

 

 

209,946

 

 

 

 

 

 

209,946

 

Deferred revenue, current

 

 

21,574

 

 

 

(2,124

)

 

 

19,450

 

Deferred revenue, non-current

 

 

44,599

 

 

 

(8,203

)

 

 

36,396

 

Total liabilities

 

 

91,600

 

 

 

(10,327

)

 

 

81,273

 

Accumulated deficit

 

 

(150,328

)

 

 

(10,327

)

 

 

(140,001

)

 

The impact of the adoption of ASC 606 on the Company’s balance sheet as of December 31, 2019 and the Company’s statements of operations for the year ended December 31, 2019 was as follows:

 

 

 

As of and for the year ended December 31, 2019

(in thousands)

 

 

 

Balances without the

Adoption of Topic 606

 

 

Adjustments

Increase /(Decrease)

 

 

As reported

 

Balance Sheet data

 

 

 

 

 

 

 

 

 

 

 

 

Deferred revenue, current

 

 

21,989

 

 

 

(2,524

)

 

 

19,465

 

Deferred revenue, non-current

 

 

20,106

 

 

 

(3,911

)

 

 

16,195

 

Total liabilities

 

 

65,016

 

 

 

(6,435

)

 

 

58,581

 

Accumulated deficit

 

 

(202,180

)

 

 

(6,435

)

 

 

(195,745

)

 

 

 

 

 

 

 

 

 

 

 

 

 

Statements of Operations data

 

 

 

 

 

 

 

 

 

 

 

 

Revenues

 

 

43,484

 

 

 

(748

)

 

 

42,736

 

Interest and other income (expense), net

 

 

(1,206

)

 

 

3,144

 

 

 

(4,350

)

Net loss

 

 

(51,852

)

 

 

3,892

 

 

 

(55,744

)

Schedule of Reconciliation of Cash, Cash Equivalents, and Restricted Cash

A reconciliation of cash, cash equivalents, and restricted cash reported within the Company’s Balance Sheets to the amount reported within the accompanying Statements of Cash Flows was as follows:

 

 

December 31,

 

 

 

2019

 

 

2018

 

 

2017

 

 

 

(in thousands)

 

Cash and cash equivalents

 

$

4,960

 

 

$

125,298

 

 

$

22,020

 

Restricted cash

 

 

15

 

 

 

15

 

 

 

15

 

Total cash, cash equivalents and restricted

   cash shown in the statements of cash flows

 

$

4,975

 

 

$

125,313

 

 

$

22,035