Summary of Significant Accounting Policies (Tables)
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6 Months Ended |
Jun. 30, 2017 |
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| Accounting Policies [Abstract] |
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| Summary of Net Revenues |
Net revenues for the three- and six-month periods presented were
comprised of the following:
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Three Months Ended
June 30,
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Six Months Ended
June 30,
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2017 |
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2016 |
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2017 |
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2016 |
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Media agency revenues
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$ |
3,739 |
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$ |
1,938 |
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$ |
6,638 |
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$ |
3,974 |
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AI platform revenues
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348 |
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73 |
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557 |
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113 |
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Total net revenues
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$ |
4,087 |
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$ |
2,011 |
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$ |
7,195 |
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$ |
4,087 |
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| Schedule of Other Income (Expense), Net |
Other income (expense), net for the three- and six-month periods
presented were comprised of the following:
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Three Months Ended
June 30,
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Six Months Ended
June 30,
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2017 |
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2016 |
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2017 |
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2016 |
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Interest income (expense), net
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$ |
(1,880 |
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$ |
1 |
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$ |
(4,234 |
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$ |
4 |
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Stock warrants issued
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(5,790 |
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— |
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(5,790 |
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— |
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Write-off of deferred debt discounts and issuance costs
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(10,132 |
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— |
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(10,132 |
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— |
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Gain on fair value change of warrant liability
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3,996 |
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— |
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7,114 |
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— |
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Other
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60 |
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3 |
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82 |
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(31 |
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Other income (expense), net
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$ |
(13,746 |
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$ |
4 |
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$ |
(12,960 |
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$ |
(27 |
) |
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| Computation of Basic and Diluted Net Loss Per Common Share |
The following table presents the computation of basic and diluted
net loss per common share for the periods presented:
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Three Months Ended
June 30, |
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Six Months Ended
June 30, |
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2017 |
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2016 |
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2017 |
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2016 |
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Net loss per share:
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Numerator
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Net loss
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$ |
(21,595 |
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$ |
(6,525 |
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$ |
(27,442 |
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$ |
(10,488 |
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Accretion of redeemable convertible preferred stock
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(3,397 |
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(794 |
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(4,470 |
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(1,588 |
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Net loss attributable to common stockholders
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$ |
(24,992 |
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$ |
(7,319 |
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$ |
(31,912 |
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$ |
(12,076 |
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Denominator
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Weighted-average common shares outstanding
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8,666,147 |
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2,424,554 |
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5,679,024 |
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1,862,401 |
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Less: Weighted-average shares subject to repurchase
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(174,756 |
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(140,456 |
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(194,645 |
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(108,772 |
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Denominator for basic and diluted net loss
per share attributable to common stockholders
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8,491,391 |
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2,284,098 |
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5,484,379 |
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1,753,629 |
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Basic and diluted net loss per share attributable to common
stockholders
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$ |
(2.94 |
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$ |
(3.20 |
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$ |
(5.82 |
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$ |
(6.89 |
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| Effect of Anti-dilutive Securities |
Other potentially dilutive securities that were not included in the
calculation of diluted net loss per share attributable to common
stockholders because their effect would be anti-dilutive are as
follows (in weighted-average common equivalent shares):
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Three Months Ended
June 30, |
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Six Months Ended
June 30, |
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2017 |
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2016 |
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2017 |
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2016 |
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Common stock options
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2,697,361 |
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682,415 |
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1,682,804 |
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636,112 |
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Warrants to purchase common stock
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2,381,530 |
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— |
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2,165,872 |
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— |
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Shares issuable upon conversion of redeemable convertible preferred
stock
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— |
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4,828,800 |
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— |
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4,783,800 |
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Total
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5,078,891 |
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5,511,215 |
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3,848,676 |
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5,419,912 |
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| Summary of Quantitative Information with Respect to Significant Unobservable Inputs |
The following table summarizes quantitative information with
respect to the significant unobservable inputs used for the
Company’s stock warrants that are categorized as Level 3
within the fair value hierarchy:
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December 31, 2016 |
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Volatility
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80.0 |
% |
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Risk free rate
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1.84 |
% |
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Discount for lack of marketability
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20.0 |
% |
The following table summarizes quantitative information with
respect to the significant unobservable inputs used for the
Company’s 10% Warrant that are categorized as Level 3
within the fair value hierarchy:
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May 17, 2017 |
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Volatility
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70.0 |
% |
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Risk free rate
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1.44 |
% |
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Discount for lack of marketability
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0 |
% |
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| Reconciliation of Level 3 Measurement of Company's Primary Warrant |
The following table represents a reconciliation of the Level 3
measurement of the Company’s Primary Warrant (see related
discussion in Note 3):
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Balance, December 31, 2016
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$ |
7,114 |
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Less: Change in fair value of warrant liability
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(7,114 |
) |
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Balance, June 30, 2017
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$ |
— |
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