| Schedule of Error Corrections and Prior Period Adjustments |
The cumulative effect of the changes made to our January 1, 2018 condensed consolidated balance sheet from the modified retrospective adoption of Topic 606 is as follows (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31,
2017 |
|
Adjustments |
|
January 1,
2018 |
Assets: |
|
|
|
|
|
Contract assets |
$ |
— |
|
|
$ |
550 |
|
|
$ |
550 |
|
Prepaid expenses and other current assets |
1,830 |
|
|
(99 |
) |
|
1,731 |
|
Other assets, non-current |
4,398 |
|
|
(10 |
) |
|
4,388 |
|
Liabilities: |
|
|
|
|
|
|
|
Deferred revenue |
8,923 |
|
|
(493 |
) |
|
8,430 |
|
Deferred revenue, non-current |
141 |
|
|
— |
|
|
141 |
|
Stockholders’ equity: |
|
|
|
|
|
|
|
Accumulated deficit |
(56,197 |
) |
|
939 |
|
|
(55,258 |
) |
Accumulated other comprehensive loss |
(2,740 |
) |
|
(5 |
) |
|
(2,745 |
) |
|
| Recently Issued Accounting Standards |
The following table summarizes the effects of adopting Topic 606 on the Company’s condensed consolidated statement of operations and comprehensive income (loss) for the three and nine months ended September 30, 2018:
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended September 30, 2018 |
|
Nine Months Ended September 30, 2018 |
|
As reported under Topic 606 |
|
Adjustments |
|
Balances without adoption of Topic 606 |
|
As reported under Topic 606 |
|
Adjustments |
|
Balances without adoption of Topic 606 |
Revenues |
$ |
5,653 |
|
|
$ |
153 |
|
|
$ |
5,806 |
|
|
$ |
18,110 |
|
|
$ |
577 |
|
|
$ |
18,687 |
|
Cost of revenues |
2,115 |
|
|
6 |
|
|
2,121 |
|
|
6,633 |
|
|
24 |
|
|
6,657 |
|
Sales and marketing |
1,796 |
|
|
12 |
|
|
1,808 |
|
|
6,388 |
|
|
50 |
|
|
6,438 |
|
Net income (loss) |
2,396 |
|
|
135 |
|
|
2,531 |
|
|
(3,665 |
) |
|
503 |
|
|
(3,162 |
) |
Net change in foreign currency translation adjustments |
(87 |
) |
|
2 |
|
|
(85 |
) |
|
(233 |
) |
|
12 |
|
|
(221 |
) |
Total comprehensive income (loss) |
2,309 |
|
|
137 |
|
|
2,446 |
|
|
(3,898 |
) |
|
515 |
|
|
(3,383 |
) |
The following table summarizes the effects of adopting Topic 606 on the Company’s condensed consolidated balance sheet as of September 30, 2018:
|
|
|
|
|
|
|
|
|
|
|
September 30, 2018 |
|
As reported under Topic 606 |
|
Adjustments |
|
Balances without adoption of Topic 606 |
Assets: |
|
|
|
|
|
Contract assets |
156 |
|
|
(156 |
) |
|
— |
|
Prepaid expenses and other current assets |
1,932 |
|
|
33 |
|
|
1,965 |
|
Other assets, non-current |
925 |
|
|
2 |
|
|
927 |
|
Liabilities: |
|
|
|
|
|
|
Deferred revenue |
9,114 |
|
|
299 |
|
|
9,413 |
|
Deferred revenue, non-current |
1,483 |
|
|
(1 |
) |
|
1,482 |
|
Stockholders’ equity: |
|
|
|
|
|
|
|
Accumulated deficit |
(58,923 |
) |
|
(436 |
) |
|
(59,359 |
) |
Accumulated other comprehensive loss |
(2,978 |
) |
|
17 |
|
|
(2,961 |
) |
The Company’s net cash used in operating activities for the nine months ended September 30, 2018 did not change due to the adoption of Topic 606. The following table summarizes the effects of adopting Topic 606 on the financial statement line items of the Company’s condensed consolidated statement of cash flows for the nine months ended September 30, 2018:
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|
|
|
|
|
|
|
|
|
|
|
|
|
Nine Months Ended September 30, 2018 |
|
As reported under Topic 606 |
|
Adjustments |
|
Balances without adoption of Topic 606 |
Operating activities: |
|
|
|
|
|
|
Net loss |
$ |
(3,665 |
) |
|
$ |
503 |
|
|
$ |
(3,162 |
) |
Adjustments to reconcile net loss to net cash used in operating activities: |
|
|
|
|
|
|
Changes in operating assets and liabilities: |
|
|
|
|
|
|
Contract assets |
394 |
|
|
(394 |
) |
|
— |
|
Prepaid expenses and other assets |
291 |
|
|
74 |
|
|
365 |
|
Deferred revenue |
2,283 |
|
|
(183 |
) |
|
2,100 |
|
|