| Schedules of Concentration of Revenue Sources |
The following table sets forth the Company's concentration of revenue sources as a percentage of total net revenues.
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Three Months Ended September 30, |
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Nine Months Ended September 30, |
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2019 |
|
2018 |
|
2019 |
|
2018 |
| Fox Networks Group |
55 |
% |
|
60 |
% |
|
58 |
% |
|
39 |
% |
| Fetch Media, Ltd. |
— |
% |
|
— |
% |
|
— |
% |
|
26 |
% |
The following table sets forth the Company's concentration of accounts receivable, net of specific allowances for doubtful accounts.
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September 30, 2019 |
|
December 31, 2018 |
| Fox Networks Group |
50 |
% |
|
66 |
% |
| Parkview Health |
10 |
% |
|
— |
% |
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| Accounts Receivable and Reserves |
Accounts receivable consisted of the following:
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September 30,
2019 |
|
December 31,
2018 |
| Accounts receivable |
$ |
6,457 |
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$ |
6,882 |
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| Less allowances for doubtful accounts |
(3,216) |
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|
(3,276) |
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| Balance |
$ |
3,241 |
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$ |
3,606 |
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| Deferred Revenue |
The Company’s deferred revenue balance consisted of the following:
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September 30,
2019 |
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December 31,
2018 |
| Current deferred revenue |
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| Platform subscriptions and services revenue |
$ |
3,076 |
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$ |
1,506 |
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| Application transaction revenue |
92 |
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|
133 |
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| PhunCoin deposits |
— |
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|
990 |
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| Total current deferred revenue |
$ |
3,168 |
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$ |
2,629 |
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| Non-current deferred revenue |
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| Platform subscriptions and services revenue |
$ |
4,167 |
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$ |
5,622 |
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| Total non-current deferred revenue |
$ |
4,167 |
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$ |
5,622 |
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| Total deferred revenue |
$ |
7,335 |
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$ |
8,251 |
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| Adoption of ASC 606 |
The following table sets forth the cumulative impact of the adoption of the new revenue standard for select condensed consolidated balance sheet line items:
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Balance at December 31, 2018 |
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Adjustments due
to ASU 2014-09 |
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Balance at
January 1, 2019 |
| Assets: |
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| Prepaid expenses and other current assets |
$ |
272 |
|
|
$ |
369 |
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|
$ |
641 |
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| Liabilities: |
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| Deferred revenue short-term |
$ |
2,629 |
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|
$ |
(465) |
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$ |
2,164 |
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| Deferred revenue long-term |
$ |
5,622 |
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$ |
(253) |
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$ |
5,369 |
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| Stockholders’ deficit: |
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| Accumulated deficit |
$ |
(111,820) |
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$ |
1,087 |
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$ |
(110,733) |
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The following tables summarize the significant impacts of adopting ASC 606 on our financial statements as of and for the three and nine months ended September 30, 2019:
Condensed Consolidated Balance Sheet
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September 30, 2019 |
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As reported |
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Impact of Adoption |
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Balances Without Adoption of ASC 606 |
| Assets: |
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| Prepaid expenses and other current assets |
$ |
637 |
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|
$ |
(365) |
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$ |
272 |
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| Liabilities: |
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|
| Deferred revenue short-term |
$ |
3,168 |
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|
$ |
218 |
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$ |
3,386 |
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| Deferred revenue long-term |
$ |
4,167 |
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$ |
154 |
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|
$ |
4,321 |
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| Stockholders’ deficit: |
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| Accumulated deficit |
$ |
(119,720) |
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$ |
(737) |
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$ |
(120,457) |
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Condensed Consolidated Statement of Operations
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Three Months Ended September 30, 2019 |
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|
As reported |
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Impact of Adoption |
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Amounts Without Adoption of ASC 606 |
| Net revenue |
$ |
5,637 |
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|
$ |
55 |
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$ |
5,692 |
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| Sales and marketing |
$ |
705 |
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|
$ |
(9) |
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$ |
696 |
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| Net loss |
$ |
(2,426) |
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$ |
64 |
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|
$ |
(2,362) |
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| Net loss per share, basic and diluted |
$ |
(0.06) |
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$ |
— |
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|
$ |
(0.06) |
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Nine Months Ended September 30, 2019 |
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|
As reported |
|
Impact of Adoption |
|
Amounts Without Adoption of ASC 606 |
| Net revenue |
$ |
16,462 |
|
|
$ |
346 |
|
|
$ |
16,808 |
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| Sales and marketing |
$ |
2,094 |
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|
$ |
(4) |
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|
$ |
2,090 |
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| Net loss |
$ |
(8,987) |
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|
$ |
350 |
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|
$ |
(8,637) |
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| Net loss per share, basic and diluted |
$ |
(0.25) |
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|
$ |
0.01 |
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|
$ |
(0.24) |
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