Summary of Significant Accounting Policies (Tables)
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9 Months Ended |
Sep. 30, 2017 |
Accounting Policies [Abstract] |
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Summary of Net Revenues |
Net revenues for the three- and nine-month periods presented were
comprised of the following:
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Three Months Ended
September 30, |
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Nine Months Ended
September 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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$ |
3,288 |
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$ |
2,223 |
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$ |
9,926 |
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$ |
6,197 |
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AI platform revenues
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431 |
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98 |
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988 |
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211 |
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Total net revenues
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$ |
3,719 |
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$ |
2,321 |
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$ |
10,914 |
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$ |
6,408 |
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Schedule of Other Income (Expense), Net |
Other income (expense), net for the three- and nine-month periods
presented were comprised of the following:
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Three Months Ended
September 30, |
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Nine Months Ended
September 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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$ |
36 |
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$ |
(1,346 |
) |
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$ |
(4,198 |
) |
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$ |
(1,341 |
) |
Stock warrants issued
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— |
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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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— |
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— |
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(10,132 |
) |
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— |
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Write-off of legal fees in
connection with the Primary Warrant
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— |
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(253 |
) |
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— |
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(253 |
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Gain on fair value change of warrant liability
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— |
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117 |
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7,114 |
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117 |
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Other
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52 |
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26 |
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134 |
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(6 |
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Other income (expense), net
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$ |
88 |
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$ |
(1,456 |
) |
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$ |
(12,872 |
) |
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$ |
(1,483 |
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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
September 30, |
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Nine Months Ended
September 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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$ |
(19,369 |
) |
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$ |
(7,427 |
) |
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$ |
(46,811 |
) |
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$ |
(17,915 |
) |
Accretion of redeemable convertible preferred stock
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— |
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(795 |
) |
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(4,470 |
) |
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(2,383 |
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Net loss attributable to common stockholders
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$ |
(19,369 |
) |
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$ |
(8,222 |
) |
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$ |
(51,281 |
) |
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$ |
(20,298 |
) |
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Denominator
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Weighted-average common shares outstanding
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14,936,809 |
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2,480,524 |
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8,820,609 |
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2,068,164 |
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Less: Weighted-average shares subject to repurchase
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(153,443 |
) |
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(125,412 |
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(180,431 |
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(110,568 |
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Denominator for basic and diluted net loss per share attributable
to common stockholders
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14,783,366 |
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2,355,112 |
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8,640,178 |
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1,957,596 |
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Basic and diluted net loss per share attributable to common
stockholders
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$ |
(1.31 |
) |
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$ |
(3.49 |
) |
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$ |
(5.94 |
) |
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$ |
(10.37 |
) |
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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
September 30, |
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Nine Months Ended
September 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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4,432,611 |
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687,258 |
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2,636,548 |
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660,762 |
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Warrants to purchase common stock
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1,524,579 |
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1,348,308 |
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987,200 |
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1,185,214 |
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Shares issuable upon conversion of convertible to note payable
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— |
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736,076 |
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— |
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736,076 |
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Shares issuable upon conversion of redeemable convertible preferred
stock
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— |
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4,921,382 |
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— |
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4,830,323 |
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Total
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5,957,190 |
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7,693,024 |
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3,623,748 |
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7,412,375 |
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Schedule of Cash and Available-For-Sale Securities' Cost, Gross Unrealized Losses and Fair Value by Significant Investment Category |
The following table shows the Company’s cash
and available-for-sale securities’
cost, gross unrealized losses and fair value by significant
investment category recorded as cash and cash equivalents or
marketable securities as of September 30, 2017:
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Cost |
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Gross
Unrealized
Losses |
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Fair
Value |
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Cash and
Cash
Equivalents |
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Marketable
Securities |
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Cash
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$ |
13,711 |
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$ |
— |
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$ |
13,711 |
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$ |
13,711 |
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$ |
— |
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Level 1:
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Money market funds
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3,057 |
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— |
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3,057 |
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3,057 |
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— |
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Level 2:
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Corporate securities
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43,726 |
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(62 |
) |
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43,664 |
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3,994 |
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39,670 |
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Total
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$ |
60,494 |
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$ |
(62 |
) |
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$ |
60,432 |
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$ |
20,762 |
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$ |
39,670 |
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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 |
% |
Risk free rate
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1.84 |
% |
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 to value 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 |
% |
Risk free rate
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1.44 |
% |
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, September 30, 2017
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$ |
— |
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