Revenue (Tables)

3 Months Ended

Mar. 31, 2018

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue

The following table depicts the disaggregation of revenue according to category for the three months ended March 31, 2018 compared to the three months ended March 31, 2017 (in thousands):

	Three Months Ended March 31,
	2018		2017
Local marketplace	$	21,875	$	18,619
Transactions	6,313		5,132
National online advertising	6,767		10,001
Publishing and other	3,352		3,889
Total net revenue	$	38,307	$	37,641

Schedule of New Accounting Pronouncements and Changes in Accounting Principles

The following table presents the effect of the adoption of ASU 2014-09 on the Company's Consolidated Balance Sheet as of December 31, 2017 (in thousands):

	December 31, 2017
	As Reported			Adoption of ASU 2014-09			As Adjusted
Accounts receivable, net of allowance	$	16,399		$	976		$	17,375
Prepaid expenses and other current assets	5,102			225			5,327
Total current assets	127,593			1,201			128,794
Deferred tax assets, net	6,500			(376		)	6,124
Other assets	118			105			223
Total assets	204,120			930			205,050
Accrued compensation and employee benefits	6,490			121			6,611
Accounts payable and accrued expenses	5,271			2			5,273
Deferred revenue	14,113			(222		)	13,891
Total current liabilities	25,874			(99		)	25,775
Other liabilities	1,792			(16		)	1,776
Total liabilities	31,031			(115		)	30,916
Accumulated deficit	(7,864		)	1,045			(6,819		)
Total stockholders’ equity	173,089			1,045			174,134
Total liabilities and stockholders’ equity	204,120			930			205,050

The following table presents the effect of the adoption of ASU 2014-09 on the Company's Condensed Consolidated Statement of Operations for the three months ended March 31, 2017 (in thousands, except per share amounts):

	Three months ended March 31, 2017
	As Reported			Adoption of ASU 2014-09		As Adjusted
Net revenue	$	35,760		$	1,881	$	37,641
Cost of revenue	1,909			128		2,037
Sales and marketing	13,491			132		13,623
Total costs and expenses	36,110			260		36,370
Income from operations	(350		)	1,621		1,271
Income before income taxes	(374		)	1,621		1,247
Income tax (benefit) / expense	(686		)	648		(38		)
Net income	312			973		1,285
Basic earnings per share	$	0.01		$	0.04	$	0.05
Diluted earnings per share	$	0.01		$	0.04	$	0.05

The following table presents the effect of the adoption of ASU 2014-09 on the Company's revenue categories for the three months ended March 31, 2017:

	Three months ended March 31, 2017
	As Reported		Adoption of ASU 2014-09		As Adjusted
Local marketplace	$	18,435	$	184	$	18,619
Transactions	4,962		170		5,132
National online advertising	8,928		1,073		10,001
Publishing and other	3,435		454		3,889
Net revenue	$	35,760	$	1,881	$	37,641

The following table presents the effect of the adoption of ASU 2014-09 on the Company's Condensed Consolidated Statement of Cash Flows for the three months ended March 31, 2017:

	Three months ended March 31, 2017
	As Reported			Adoption of ASU 2014-09			As Adjusted
Net income	$	312		$	973		$	1,285
Deferred income taxes	329			648			977
Decrease in accounts receivable	1,777			(707		)	1,070
Increase in prepaid expenses and other assets, net	(1,469		)	101			(1,368		)
Decrease in accrued compensation and employee benefits	(2,720		)	167			(2,553		)
Increase in accounts payable and accrued expenses	812			(4		)	808
Increase in deferred revenue	2,339			(1,178		)	1,161