$REAL
TheRealReal, Inc.

2020 Q3 Form 10-Q Financial Statement

#000156459020053042 Filed on November 10, 2020

View on sec.gov

Income Statement

Concept 2020 Q3 2019 Q3 2019 Q2
Revenue $77.80M $81.52M $70.98M
YoY Change -4.57% 57.25% 51.06%
Cost Of Revenue $28.27M $29.29M $24.93M
YoY Change -3.48% 58.23% 53.81%
Gross Profit $49.53M $52.23M $46.05M
YoY Change -5.17% 56.7% 49.61%
Gross Profit Margin 63.66% 64.07% 64.88%
Selling, General & Admin $35.38M $28.44M $25.36M
YoY Change 24.43% -48.49% 76.36%
% of Gross Profit 71.44% 54.45% 55.06%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $4.910M $3.550M $3.180M
YoY Change 38.31% 51.06% 48.6%
% of Gross Profit 9.91% 6.8% 6.91%
Operating Expenses $91.15M $79.23M $71.39M
YoY Change 15.04% 43.51% 53.03%
Operating Profit -$41.62M -$27.01M -$25.34M
YoY Change 54.12% 23.42% 59.66%
Interest Expense $2.406M $60.00K $380.0K
YoY Change 3910.0% -73.91% -27.76%
% of Operating Profit
Other Income/Expense, Net $0.00 -$119.0K -$1.710M
YoY Change -100.0% -43.33% 33.59%
Pretax Income -$43.58M -$25.28M -$26.82M
YoY Change 72.36% 15.71% 52.41%
Income Tax -$17.00K -$8.000K $59.00K
% Of Pretax Income
Net Earnings -$43.56M -$25.27M -$26.88M
YoY Change 72.35% 15.49% 52.74%
Net Earnings / Revenue -55.99% -31.0% -37.86%
Basic Earnings Per Share -$0.50
Diluted Earnings Per Share -$0.50 -$298.6K -$2.832M
COMMON SHARES
Basic Shares Outstanding 87.87M shares
Diluted Shares Outstanding 87.87M shares

Balance Sheet

Concept 2020 Q3 2019 Q3 2019 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $395.2M $370.3M $66.69M
YoY Change 6.74%
Cash & Equivalents $343.1M $365.0M $53.31M
Short-Term Investments $52.16M $5.300M $13.37M
Other Short-Term Assets $18.30M $13.10M $10.60M
YoY Change 39.69%
Inventory $19.24M $13.80M $12.66M
Prepaid Expenses
Receivables $4.559M $8.900M $9.517M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $437.3M $406.1M $99.43M
YoY Change 7.68%
LONG-TERM ASSETS
Property, Plant & Equipment $61.94M $45.70M $40.43M
YoY Change 35.54%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $2.020M $1.500M $6.573M
YoY Change 34.67%
Total Long-Term Assets $179.0M $47.30M $58.70M
YoY Change 278.39%
TOTAL ASSETS
Total Short-Term Assets $437.3M $406.1M $99.43M
Total Long-Term Assets $179.0M $47.30M $58.70M
Total Assets $616.3M $453.4M $158.1M
YoY Change 35.92%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $5.410M $5.700M $4.469M
YoY Change -5.09%
Accrued Expenses $44.49M $78.80M $33.40M
YoY Change -43.54%
Deferred Revenue $1.960M $3.582M $3.943M
YoY Change -45.28%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $6.498M
YoY Change
Total Short-Term Liabilities $120.9M $88.10M $86.85M
YoY Change 37.26%
LONG-TERM LIABILITIES
Long-Term Debt $148.1M $0.00 $0.00
YoY Change
Other Long-Term Liabilities $1.300M $8.050M $10.08M
YoY Change -83.85%
Total Long-Term Liabilities $1.300M $8.050M $10.08M
YoY Change -83.85%
TOTAL LIABILITIES
Total Short-Term Liabilities $120.9M $88.10M $86.85M
Total Long-Term Liabilities $1.300M $8.050M $10.08M
Total Liabilities $382.0M $96.13M $96.92M
YoY Change 297.33%
SHAREHOLDERS EQUITY
Retained Earnings -$479.0M -$333.1M -$307.9M
YoY Change 43.79%
Common Stock $1.000K $1.730M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $232.1M $357.2M -$306.1M
YoY Change
Total Liabilities & Shareholders Equity $616.3M $453.4M $158.1M
YoY Change 35.93%

Cashflow Statement

Concept 2020 Q3 2019 Q3 2019 Q2
OPERATING ACTIVITIES
Net Income -$43.56M -$25.27M -$26.88M
YoY Change 72.35% 15.49% 52.74%
Depreciation, Depletion And Amortization $4.910M $3.550M $3.180M
YoY Change 38.31% 51.06% 48.6%
Cash From Operating Activities -$9.440M -$11.95M -$23.60M
YoY Change -21.0% 9.43% 71.76%
INVESTING ACTIVITIES
Capital Expenditures -$7.690M -$8.850M -$8.500M
YoY Change -13.11% 34.5% 164.8%
Acquisitions
YoY Change
Other Investing Activities $53.35M $8.080M $880.0K
YoY Change 560.27% -136.69%
Cash From Investing Activities $45.66M -$770.0K -$7.620M
YoY Change -6029.87% -97.31% 137.38%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 2.520M 312.7M -3.970M
YoY Change -99.19% 3548.77% -103.98%
NET CHANGE
Cash From Operating Activities -9.440M -11.95M -23.60M
Cash From Investing Activities 45.66M -770.0K -7.620M
Cash From Financing Activities 2.520M 312.7M -3.970M
Net Change In Cash 38.74M 300.0M -35.19M
YoY Change -87.09% -1069.24% -142.56%
FREE CASH FLOW
Cash From Operating Activities -$9.440M -$11.95M -$23.60M
Capital Expenditures -$7.690M -$8.850M -$8.500M
Free Cash Flow -$1.750M -$3.100M -$15.10M
YoY Change -43.55% -28.57% 43.4%

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IncreaseDecreaseInOperatingLeaseLiability
8710000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-4164000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
1394000
real Increase Decrease In Accrued Consignor Payable
IncreaseDecreaseInAccruedConsignorPayable
-8330000
real Increase Decrease In Accrued Consignor Payable
IncreaseDecreaseInAccruedConsignorPayable
4611000
us-gaap Increase Decrease In Other Accrued Liabilities
IncreaseDecreaseInOtherAccruedLiabilities
2511000
us-gaap Increase Decrease In Other Accrued Liabilities
IncreaseDecreaseInOtherAccruedLiabilities
494000
us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
-150000
us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
1356000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-96017000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-58119000
us-gaap Payments To Acquire Short Term Investments
PaymentsToAcquireShortTermInvestments
73280000
us-gaap Payments To Acquire Short Term Investments
PaymentsToAcquireShortTermInvestments
12169000
us-gaap Proceeds From Maturities Prepayments And Calls Of Shortterm Investments
ProceedsFromMaturitiesPrepaymentsAndCallsOfShorttermInvestments
222217000
us-gaap Proceeds From Maturities Prepayments And Calls Of Shortterm Investments
ProceedsFromMaturitiesPrepaymentsAndCallsOfShorttermInvestments
33998000
us-gaap Proceeds From Sale Of Short Term Investments
ProceedsFromSaleOfShortTermInvestments
7932000
us-gaap Payments For Software
PaymentsForSoftware
6640000
us-gaap Payments For Software
PaymentsForSoftware
6670000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
15685000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
16111000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
134544000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-952000
us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
315486000
us-gaap Proceeds From Issuance Of Redeemable Convertible Preferred Stock
ProceedsFromIssuanceOfRedeemableConvertiblePreferredStock
43492000
us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
166278000
real Purchase Of Capped Calls
PurchaseOfCappedCalls
22546000
real Proceeds From Stock Options Exercised And Common Stock Warrants
ProceedsFromStockOptionsExercisedAndCommonStockWarrants
7135000
real Proceeds From Stock Options Exercised And Common Stock Warrants
ProceedsFromStockOptionsExercisedAndCommonStockWarrants
2448000
real Payments Related To Tax Withholding For Restricted Stock Vesting
PaymentsRelatedToTaxWithholdingForRestrictedStockVesting
748000
real Payments Related To Tax Withholding For Restricted Stock Vesting
PaymentsRelatedToTaxWithholdingForRestrictedStockVesting
20000
us-gaap Repayments Of Debt
RepaymentsOfDebt
9250000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
150119000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
378439000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
188646000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
319368000
real Conversion Of Convertible Preferred Stock Warrants In Connection With Initial Public Offering
ConversionOfConvertiblePreferredStockWarrantsInConnectionWithInitialPublicOffering
2710000
real Issuance Costs Associated With Issuance Of Convertible Senior Notes Included In Other Accrued And Current Liabilities
IssuanceCostsAssociatedWithIssuanceOfConvertibleSeniorNotesIncludedInOtherAccruedAndCurrentLiabilities
469000
real Tax Withholding Liability For Restricted Stock
TaxWithholdingLiabilityForRestrictedStock
3000
CY2020Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
343092000
CY2019Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
364995000
us-gaap Interest Paid Net
InterestPaidNet
7000
us-gaap Interest Paid Net
InterestPaidNet
532000
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
90000
real Accretion Of Redeemable Convertible Preferred Stock To Redemption Value
AccretionOfRedeemableConvertiblePreferredStockToRedemptionValue
3355000
real Purchase Of Property And Equipment Included In Accounts Payable And Other Accrued And Current Liabilities
PurchaseOfPropertyAndEquipmentIncludedInAccountsPayableAndOtherAccruedAndCurrentLiabilities
-3102000
real Purchase Of Property And Equipment Included In Accounts Payable And Other Accrued And Current Liabilities
PurchaseOfPropertyAndEquipmentIncludedInAccountsPayableAndOtherAccruedAndCurrentLiabilities
-877000
real Purchases Of Capitalized Proprietary Software Development Costs Included In Accounts Payable And Other Accrued And Current Liabilities
PurchasesOfCapitalizedProprietarySoftwareDevelopmentCostsIncludedInAccountsPayableAndOtherAccruedAndCurrentLiabilities
501000
real Deferred Offering Costs In Accounts Payable And Accrued Liabilities
DeferredOfferingCostsInAccountsPayableAndAccruedLiabilities
28000
us-gaap Use Of Estimates
UseOfEstimates
<p style="margin-bottom:0pt;margin-top:6pt;text-indent:0%;font-weight:bold;font-style:italic;font-size:10pt;font-family:Times New Roman;text-transform:none;font-variant: normal;">Use of Estimates</p> <p style="margin-bottom:0pt;margin-top:6pt;text-indent:4.54%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the financial statements and the reported amounts of expenses during the reporting period. Significant items subject to such estimates and assumptions include those related to revenue recognition, including the returns reserve and material right related to the Company&#8217;s tiered consignor commission plan, valuation of inventory, software development costs, stock-based compensation, redemption value of redeemable convertible preferred stock, incremental borrowing rates related to lease liability, fair value of the liability component of convertible senior notes, and other contingencies. The Company evaluates its estimates and assumptions on an ongoing basis using historical experience and other factors and adjusts those estimates and assumptions when facts and circumstances dictate. Actual results could differ from those estimates. </p> <p style="margin-bottom:0pt;margin-top:12pt;text-indent:4.54%;color:#212529;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="Background-color:#FFFFFF;">The Company assessed the impacts of the pandemic on the estimates and assumptions used in preparing these financial statements. In particular, the Company is monitoring its returns reserve and adjusting in response to changing consumer behaviors. Its estimates may change as new events occur and additional information is obtained; any such changes will be recognized in the financial statements. Actual results could differ from estimates, and any such differences may be material to the financial statements.</font></p>
CY2020Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
12800000
CY2020Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
106200000
CY2020Q2 real Market Value Of Common Stock Held By Non Affiliates
MarketValueOfCommonStockHeldByNonAffiliates
700000000
CY2020Q3 real Cash And Cash Equivalents Amortized Cost
CashAndCashEquivalentsAmortizedCost
343092000
CY2019Q4 us-gaap Accrued Salaries Current
AccruedSalariesCurrent
11626000
CY2020Q3 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
343092000
CY2020Q3 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
52049000
CY2020Q3 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
107000
CY2019Q4 real Cash And Cash Equivalents Amortized Cost
CashAndCashEquivalentsAmortizedCost
154446000
CY2019Q4 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
154446000
CY2020Q3 real Site Credit Liability
SiteCreditLiability
5439000
CY2019Q4 real Site Credit Liability
SiteCreditLiability
5080000
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="margin-bottom:0pt;margin-top:18pt;text-indent:0%;font-weight:bold;font-style:italic;font-size:10pt;font-family:Times New Roman;text-transform:none;font-variant: normal;">Concentrations of Credit Risks </p> <p style="margin-bottom:0pt;margin-top:6pt;text-indent:4.54%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Financial instruments that potentially subject the Company to concentrations of credit risk consist of cash and cash equivalents,&nbsp;&nbsp;accounts receivable, and investments. At times, such amount may exceed federally-insured limits. The Company reduces credit risk by placing its cash, cash equivalents, and investments with major financial institutions within the United States. </p> <p style="margin-bottom:0pt;margin-top:12pt;text-indent:4.54%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">As of September 30, 2020 and December 31, 2019, there were no customers that represented 10% or more of the Company&#8217;s accounts receivable balance and there were no customers that individually exceeded 10% of the&#160;Company&#8217;s total revenue for each of the three and nine months ended September 30, 2020 and 2019. </p>
CY2019Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
14000
CY2020Q3 real Decrease In Net Revenues Percentage
DecreaseInNetRevenuesPercentage
0.04
real Decrease In Net Revenues Percentage
DecreaseInNetRevenuesPercentage
0.05
us-gaap Debt Securities Unrealized Gain Loss Excluding Other Than Temporary Impairment
DebtSecuritiesUnrealizedGainLossExcludingOtherThanTemporaryImpairment
0
CY2019 us-gaap Debt Securities Unrealized Gain Loss Excluding Other Than Temporary Impairment
DebtSecuritiesUnrealizedGainLossExcludingOtherThanTemporaryImpairment
0
CY2020Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
110300000
CY2019Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
7000
CY2020Q3 us-gaap Fair Value Assets Level1 To Level2 Transfers Amount
FairValueAssetsLevel1ToLevel2TransfersAmount
0
CY2019Q4 us-gaap Fair Value Assets Level1 To Level2 Transfers Amount
FairValueAssetsLevel1ToLevel2TransfersAmount
0
CY2020Q3 us-gaap Fair Value Assets Level2 To Level1 Transfers Amount
FairValueAssetsLevel2ToLevel1TransfersAmount
0
CY2019Q4 us-gaap Fair Value Assets Level2 To Level1 Transfers Amount
FairValueAssetsLevel2ToLevel1TransfersAmount
0
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Into Level3
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersIntoLevel3
0
CY2019 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Into Level3
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersIntoLevel3
0
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Out Of Level3
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersOutOfLevel3
0
CY2019 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Out Of Level3
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersOutOfLevel3
0
CY2020Q3 us-gaap Fair Value Liabilities Level1 To Level2 Transfers Amount
FairValueLiabilitiesLevel1ToLevel2TransfersAmount
0
CY2019Q4 us-gaap Fair Value Liabilities Level1 To Level2 Transfers Amount
FairValueLiabilitiesLevel1ToLevel2TransfersAmount
0
CY2020Q3 us-gaap Fair Value Liabilities Level2 To Level1 Transfers Amount
FairValueLiabilitiesLevel2ToLevel1TransfersAmount
0
CY2019Q4 us-gaap Fair Value Liabilities Level2 To Level1 Transfers Amount
FairValueLiabilitiesLevel2ToLevel1TransfersAmount
0
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Liability Transfers Into Level3
FairValueMeasurementWithUnobservableInputsReconciliationLiabilityTransfersIntoLevel3
0
CY2019 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Liability Transfers Into Level3
FairValueMeasurementWithUnobservableInputsReconciliationLiabilityTransfersIntoLevel3
0
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Liability Transfers Out Of Level3
FairValueMeasurementWithUnobservableInputsReconciliationLiabilityTransfersOutOfLevel3
0
CY2019 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Liability Transfers Out Of Level3
FairValueMeasurementWithUnobservableInputsReconciliationLiabilityTransfersOutOfLevel3
0
CY2020Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
100549000
CY2019Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
88624000
CY2020Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
38605000
CY2019Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
32793000
CY2020Q3 us-gaap Depreciation And Amortization
DepreciationAndAmortization
4900000
CY2019Q3 us-gaap Depreciation And Amortization
DepreciationAndAmortization
3500000
us-gaap Depreciation And Amortization
DepreciationAndAmortization
13700000
us-gaap Depreciation And Amortization
DepreciationAndAmortization
9500000
CY2020Q3 real Accrued Returns Reserve Current
AccruedReturnsReserveCurrent
12793000
CY2019Q4 real Accrued Returns Reserve Current
AccruedReturnsReserveCurrent
17005000
CY2020Q3 us-gaap Accrued Salaries Current
AccruedSalariesCurrent
14043000
CY2020Q3 us-gaap Taxes Payable Current
TaxesPayableCurrent
5446000
CY2019Q4 us-gaap Taxes Payable Current
TaxesPayableCurrent
6132000
CY2020Q3 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
1960000
CY2019Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
4767000
CY2020Q3 us-gaap Accrued Marketing Costs Current
AccruedMarketingCostsCurrent
10297000
CY2019Q4 us-gaap Accrued Marketing Costs Current
AccruedMarketingCostsCurrent
6830000
CY2020Q3 us-gaap Interest Payable Current
InterestPayableCurrent
1496000
CY2020Q3 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
4293000
CY2019Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
3127000
CY2020Q3 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
6700000
us-gaap Adjustments To Additional Paid In Capital Equity Component Of Convertible Debt
AdjustmentsToAdditionalPaidInCapitalEquityComponentOfConvertibleDebt
800000
CY2020Q3 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
5900000
CY2019Q4 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
67208000
CY2019Q4 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
165671000
us-gaap Debt Instrument Convertible Remaining Discount Amortization Period1
DebtInstrumentConvertibleRemainingDiscountAmortizationPeriod1
P5Y
us-gaap Debt Instrument Interest Rate During Period
DebtInstrumentInterestRateDuringPeriod
0.064
us-gaap Interest Expense Debt Excluding Amortization
InterestExpenseDebtExcludingAmortization
1496000
us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
974000
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
294000
us-gaap Interest Expense Debt
InterestExpenseDebt
2764000
CY2020Q3 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
2574000
CY2020Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
5175000
CY2020Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
5175000
CY2020Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
5175000
CY2020Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
5175000
CY2020Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
175088000
CY2020Q3 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
198362000
CY2020Q3 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
25862000
CY2020Q3 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
172500000
CY2020Q2 real Payment To Counterparties For Purchased Calls
PaymentToCounterpartiesForPurchasedCalls
22500000
CY2020Q2 real Common Stock Subject To Adjustment And Exercisable Upon Conversion Of Initial Notes
CommonStockSubjectToAdjustmentAndExercisableUponConversionOfInitialNotes
9705454
CY2020Q2 us-gaap Derivative Cap Price
DerivativeCapPrice
27.88
CY2020Q2 real Derivative Cap Price As Percentage On Common Stock Price Per Share
DerivativeCapPriceAsPercentageOnCommonStockPricePerShare
1.000
CY2020Q2 us-gaap Share Price
SharePrice
13.94
CY2020Q2 real Adjustments To Additional Paid Premium Payments For Capped Call Transactions
AdjustmentsToAdditionalPaidPremiumPaymentsForCappedCallTransactions
22500000
CY2020Q3 us-gaap Interest Expense Debt
InterestExpenseDebt
0
us-gaap Interest Expense Debt
InterestExpenseDebt
0
us-gaap Interest Expense Debt
InterestExpenseDebt
600000
CY2020Q3 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
0
CY2019Q1 us-gaap Temporary Equity Shares Authorized
TemporaryEquitySharesAuthorized
115185867
CY2019Q1 us-gaap Temporary Equity Shares Issued
TemporaryEquitySharesIssued
114960357
CY2019Q1 us-gaap Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
367406000
CY2019Q1 us-gaap Temporary Equity Liquidation Preference
TemporaryEquityLiquidationPreference
376007000
CY2019Q1 us-gaap Temporary Equity Shares Outstanding
TemporaryEquitySharesOutstanding
114960357
CY2020Q3 real Share Based Compensation Expense Excludes Share Based Compensation Related To Stock Sales By Current And Former Employees
ShareBasedCompensationExpenseExcludesShareBasedCompensationRelatedToStockSalesByCurrentAndFormerEmployees
7372000
CY2019Q3 real Share Based Compensation Expense Excludes Share Based Compensation Related To Stock Sales By Current And Former Employees
ShareBasedCompensationExpenseExcludesShareBasedCompensationRelatedToStockSalesByCurrentAndFormerEmployees
2520000
real Share Based Compensation Expense Excludes Share Based Compensation Related To Stock Sales By Current And Former Employees
ShareBasedCompensationExpenseExcludesShareBasedCompensationRelatedToStockSalesByCurrentAndFormerEmployees
16911000
real Share Based Compensation Expense Excludes Share Based Compensation Related To Stock Sales By Current And Former Employees
ShareBasedCompensationExpenseExcludesShareBasedCompensationRelatedToStockSalesByCurrentAndFormerEmployees
4916000
CY2020Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
6200000
us-gaap Operating Lease Cost
OperatingLeaseCost
18400000
CY2020Q3 us-gaap Variable Lease Cost
VariableLeaseCost
1100000
us-gaap Variable Lease Cost
VariableLeaseCost
3100000
CY2019Q3 us-gaap Operating Lease Expense
OperatingLeaseExpense
4800000
us-gaap Operating Lease Expense
OperatingLeaseExpense
13400000
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
5054000
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
24205000
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
21548000
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
20168000
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
19759000
CY2020Q3 real Lessee Operating Lease Liability Payments Due After Year Four
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour
71924000
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
162658000
CY2020Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
35715000
CY2020Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
126943000
CY2019Q4 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
20530000
CY2019Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
22059000
CY2019Q4 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
19610000
CY2019Q4 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
18307000
CY2019Q4 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
17957000
real Cash Paid For Amounts Included In Measurement Of Lease Liabilities
CashPaidForAmountsIncludedInMeasurementOfLeaseLiabilities
6113000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
16671000
CY2020Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P7Y3M18D
CY2020Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.070
CY2020Q3 real Grant Liability
GrantLiability
500000
CY2019Q4 real Grant Liability
GrantLiability
900000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
20869552
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
9969039

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