XML 23 R4.htm IDEA: XBRL DOCUMENT v3.19.2
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Income Statement [Abstract]        
Revenues $ 52,000,104 $ 42,801,745 $ 101,513,341 $ 80,439,538
Operating costs and expenses:        
Sales and marketing 9,059,530 7,753,486 16,900,396 14,801,479
Product development and content 30,149,797 24,411,288 61,273,172 46,512,825
General and administrative 5,892,437 5,154,103 10,820,219 10,623,281
Depreciation and amortization 3,430,018 3,505,180 6,628,122 7,134,783
Acquisition and restructuring 25,454 1,036,602 504,449 4,386,553
Total operating costs and expenses 48,557,236 41,860,659 96,126,358 83,458,921
Income (loss) from operations 3,442,868 941,086 5,386,983 (3,019,383)
Other income (expense):        
Interest income 27,605 2,742 59,994 9,950
Interest expense (328,196) (671,294) (731,060) (1,278,980)
Gain (loss) on foreign currency transactions (2,380) 4,216 (67,589) 107,259
Other (787) 28,571 2,762 21,627
Total other expense (303,758) (635,765) (735,893) (1,140,144)
Income (loss) before income tax expense 3,139,110 305,321 4,651,090 (4,159,527)
Income tax expense (935,284) (540,593) (1,189,665) (288,406)
Net income (loss) $ 2,203,826 $ (235,272) $ 3,461,425 $ (4,447,933)
Basic and diluted net income (loss) per common stockholder:        
Basic net income (loss) per common stockholder (in dollars per share) $ 0.03 $ 0.00 $ 0.05 $ (0.06)
Diluted net income (loss) per common stockholder (in dollars per share) $ 0.03 $ 0.00 $ 0.04 $ (0.06)
Weighted average shares outstanding:        
Basic (in shares) 75,648,621 72,753,487 75,250,562 72,369,619
Diluted (in shares) 78,508,559 72,753,487 78,656,115 72,369,619
Comprehensive income (loss):        
Net income (loss) $ 2,203,826 $ (235,272) $ 3,461,425 $ (4,447,933)
Other comprehensive income (loss):        
Reclassification of (gains) losses on derivative financial instruments, net of tax of $106,221, $832,995, $240,254 and $508,691, respectively 232,239 (1,831,921) (543,598) (1,053,778)
Unrealized gains (losses) on derivative financial instruments, net of tax of $50,362, $834,099, $335,560 and $416,203, respectively (131,905) 1,858,182 695,763 1,097,056
Foreign currency translation adjustment 263,173 (952,438) (57,625) (584,085)
Other comprehensive income (loss) 363,507 (926,177) 94,540 (540,807)
Comprehensive income (loss) $ 2,567,333 $ (1,161,449) $ 3,555,965 $ (4,988,740)