Company Quick10K Filing
BlackLine
Closing Price ($) Shares Out (MM) Market Cap ($MM)
$0.00 55 $2,853
10-Q 2019-11-07 Quarter: 2019-09-30
10-Q 2019-08-07 Quarter: 2019-06-30
10-Q 2019-05-09 Quarter: 2019-03-31
10-K 2019-02-28 Annual: 2018-12-31
10-Q 2018-11-07 Quarter: 2018-09-30
10-Q 2018-08-08 Quarter: 2018-06-30
10-Q 2018-05-09 Quarter: 2018-03-31
10-K 2018-03-08 Annual: 2017-12-31
10-Q 2017-11-08 Quarter: 2017-09-30
10-Q 2017-08-10 Quarter: 2017-06-30
10-Q 2017-05-12 Quarter: 2017-03-31
10-K 2017-03-10 Annual: 2016-12-31
10-Q 2016-12-12 Quarter: 2016-09-30
8-K 2020-02-20 Officers, Exhibits
8-K 2020-02-13 Earnings, Exhibits
8-K 2019-11-06 Earnings, Exhibits
8-K 2019-08-07 Enter Agreement, Off-BS Arrangement, Sale of Shares, Other Events, Exhibits
8-K 2019-08-01 Earnings, Exhibits
8-K 2019-05-08 Shareholder Vote
8-K 2019-05-02 Earnings, Exhibits
8-K 2019-03-12 Officers, Exhibits
8-K 2019-02-14 Earnings, Exhibits
8-K 2018-11-01 Earnings, Exhibits
8-K 2018-10-31 Enter Agreement
8-K 2018-08-10 Officers, Exhibits
8-K 2018-08-02 Earnings, Exhibits
8-K 2018-06-11 Officers, Exhibits
8-K 2018-05-09 Shareholder Vote
8-K 2018-05-03 Earnings, Exhibits
8-K 2018-02-15 Earnings, Exhibits
8-K 2018-02-13 Officers, Exhibits
BL 2019-09-30
Part I. Financial Information
Part 1 - Financial Information
Item 1. Financial Statements
Note 1 - Company Overview
Note 2 - Basis of Presentation, Significant Accounting Policies and Recently-Issued Accounting Pronouncements
Note 3 - Leases
Note 4 - Redeemable Non-Controlling Interest
Note 5 - Balance Sheet Components
Note 6 - Fair Value Measurements
Note 7 - Convertible Senior Notes
Note 8 - Commitments and Contingencies
Note 9 - Equity Awards
Note 10 - Unearned Revenue and Performance Obligations
Note 11 - Income Taxes
Note 12 - Net Loss per Share
Note 13 - Geographic Information
Note 14 - Subsequent Events
Item 3. Quantitative and Qualitative Disclosures About Market Risk
Item 4. Controls and Procedures
Part II. Other Information
Item 1. Legal Proceedings
Item 1A. Risk Factors
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
Item 6. Exhibits
EX-31.1 bl-ex311_6.htm
EX-31.2 bl-ex312_8.htm
EX-32.1 bl-ex321_7.htm

BlackLine Earnings 2019-09-30

BL 10Q Quarterly Report

Balance SheetIncome StatementCash Flow

Comparables ($MM TTM)
Ticker M Cap Assets Liab Rev G Profit Net Inc EBITDA EV G Margin EV/EBITDA ROA
SWI 2,992 828 344 486 434 90 162 2,819 89% 17.4 11%
ALTR 2,987 730 368 444 322 24 52 2,966 73% 57.2 3%
EVBG 2,892 425 239 172 118 -44 -32 2,653 68% -82.5 -10%
BL 2,853 524 192 255 199 -26 -3 2,790 78% -1,026.1 -5%
MIME 2,783 663 472 361 266 -8 33 2,683 74% 81.3 -1%
CYBR 2,742 674 207 0 0 0 0 2,480 0%
TENB 2,732 481 360 310 259 -84 -74 2,546 83% -34.3 -17%
RPD 2,722 636 549 283 204 -50 -26 2,596 72% -101.8 -8%
ALRM 2,719 505 193 457 293 23 37 2,633 64% 71.2 5%

bl-10q_20190930.htm
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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 10-Q

 

(Mark One)

QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended September 30, 2019

OR

TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from     to     

Commission File Number: 001-37924

 

BlackLine, Inc.

(Exact name of Registrant as specified in its charter)

 

 

Delaware

46-3354276

(State or other jurisdiction of

incorporation or organization)

(I.R.S. Employer

Identification Number)

 

21300 Victory Boulevard, 12th Floor

Woodland Hills, CA 91367

(Address of principal executive offices, including zip code)

 

(818) 223-9008

(Registrant’s telephone number, including area code)

 

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common stock, par value $0.01 per share

BL

NASDAQ Global Select Market

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.    Yes     No  

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).    Yes      No  

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company.  See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule12b-2 of the Exchange Act.

 

Large accelerated filer

 

 

Accelerated filer

Non-accelerated filer

 

 

Smaller reporting company

 

 

 

 

Emerging growth company

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).    Yes      No  

The number of shares of the registrant’s common stock outstanding at October 31, 2019 was 55,639,281.

 

 

 

 


BlackLine, Inc.

Quarterly Report on Form 10-Q

For the Quarterly Period Ended September 30, 2019

TABLE OF CONTENTS

Part I. Financial Information

 

Item 1.

Unaudited Condensed Consolidated Financial Statements

4

 

 

 

 

Unaudited Condensed Consolidated Balance Sheets at September 30, 2019 and December 31, 2018

4

 

 

 

 

Unaudited Condensed Consolidated Statements of Operations for the Quarters and Nine Months Ended September 30, 2019 and 2018

5

 

 

 

 

Unaudited Condensed Consolidated Statements of Comprehensive Loss for the Quarters and Nine Months Ended September 30, 2019 and 2018

6

 

 

 

 

Unaudited Condensed Consolidated Statements of Stockholders’ Equity for the Quarters and Nine Months Ended September 30, 2019 and 2018

7

 

 

 

 

Unaudited Condensed Consolidated Statements of Cash Flows for the Nine Months Ended September 30, 2019 and 2018

9

 

 

 

 

Notes to Unaudited Condensed Consolidated Financial Statements

12

 

 

 

Item 2.

Management’s Discussion and Analysis of Financial Condition and Results of Operations

24

 

 

 

Item 3.

Quantitative and Qualitative Disclosures About Market Risk

34

 

 

 

Item 4.

Controls and Procedures

35

 

 

Part II. Other Information

 

 

 

Item 1.

Legal Proceedings

36

 

 

 

Item 1A.

Risk Factors

36

 

 

 

Item 2.

Unregistered Sales of Equity Securities and Use of Proceeds

59

 

 

 

Item 6.

Exhibits

59

 

 

2


SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS

This Quarterly Report on Form 10-Q contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which statements involve substantial risk and uncertainties. In some cases, you can identify forward-looking statements by terminology such as “may,” “will,” “should,” “could,” “expect,” “plan,” “anticipate,” “believe,” “estimate,” “predict,” “intend,” “potential,” “would,” “continue,” “ongoing” or the negative of these terms or other comparable terminology. All statements other than statements of historical fact are statements that could be deemed forward-looking statements, including, but not limited to, statements regarding future financial and operational performance; statements concerning growth strategies including extension of distribution channels and strategic relationships, product innovation, international expansion, customer growth and expansion, customer service initiatives, expectations regarding contract size and increased focus on strategic products, expectations for hiring new talent and expanding our sales organization; our ability to accurately forecast revenue and appropriately plan expenses and investments; the demand for and benefits from the use of our current and future solutions; market acceptance of our solutions; and changes in the competitive environment in our industry and the markets in which we operate. These statements are based upon our historical performance and our current plans, estimates and expectations and are not a representation that such plans, estimates, or expectations will be achieved. Forward-looking statements are based on information available at the time those statements are made and/or management’s good faith beliefs and assumptions as of that time with respect to future events, and are subject to risks and uncertainty. If any of these risks or uncertainties materialize or if any assumptions prove incorrect, actual performance or results may differ materially from those expressed in or suggested by the forward looking statements. Readers are cautioned that these forward-looking statements are only predictions and are subject to risks, uncertainty, and assumptions that are difficult to predict, including those identified below, under “Part II-Other Information, Item 1A. Risk Factors” and elsewhere herein. Forward-looking statements should not be read as a guarantee of future performance or results, and you should not place undue reliance on such statements. Furthermore, we undertake no obligation to revise or update any forward-looking statements for any reason, except as required by applicable law.

Unless the context otherwise requires, the terms “BlackLine, Inc.,” “the Company,” “we,” “us” and “our” in this Quarterly Report on Form 10-Q refer to the consolidated operations of BlackLine, Inc. and its consolidated subsidiaries as a whole, and references to “Iconiq” refer to any or all of Iconiq Strategic Partners, L.P., ICONIQ Strategic Partners-B, L.P. and Iconiq Strategic Partners Co-Invest, L.P., BL Series. We refer to, Iconiq, Therese Tucker, and Mario Spanicciati collectively as our Principal Stockholders.

 

3


Part 1 – Financial Information

Item 1.

Financial Statements

BLACKLINE, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED)

(in thousands)

 

 

 

September 30,

 

 

December 31,

 

 

 

2019

 

 

2018

 

ASSETS

 

Current assets:

 

 

 

 

 

 

 

 

Cash and cash equivalents

 

$

528,197

 

 

$

46,181

 

Marketable securities

 

 

68,324

 

 

 

86,396

 

Accounts receivable, net

 

 

81,865

 

 

 

74,902

 

Prepaid expenses and other current assets

 

 

10,874

 

 

 

14,042

 

Total current assets

 

 

689,260

 

 

 

221,521

 

Capitalized software development costs, net

 

 

9,424

 

 

 

9,023

 

Property and equipment, net

 

 

12,891

 

 

 

13,536

 

Intangible assets, net

 

 

19,063

 

 

 

27,785

 

Goodwill

 

 

185,138

 

 

 

185,138

 

Operating lease right-of-use assets

 

 

13,381

 

 

 

 

Other assets

 

 

46,482

 

 

 

36,865

 

Total assets

 

$

975,639

 

 

$

493,868

 

LIABILITIES, REDEEMABLE NON-CONTROLLING INTEREST, AND STOCKHOLDERS' EQUITY

 

Current liabilities:

 

 

 

 

 

 

 

 

Accounts payable

 

$

1,614

 

 

$

3,442

 

Accrued expenses and other current liabilities

 

 

25,704

 

 

 

24,705

 

Deferred revenue

 

 

144,100

 

 

 

129,074

 

Short-term portion of operating lease liabilities

 

 

4,779

 

 

 

 

Short-term portion of contingent consideration

 

 

2,008

 

 

 

2,008

 

Total current liabilities

 

 

178,205

 

 

 

159,229

 

Operating lease liabilities, noncurrent

 

 

11,710

 

 

 

 

Convertible senior notes, net

 

 

378,856

 

 

 

 

Contingent consideration

 

 

4,621

 

 

 

4,308

 

Deferred tax liabilities, net

 

 

1,151

 

 

 

1,116

 

Deferred revenue, noncurrent

 

 

222

 

 

 

277

 

Other long-term liabilities

 

 

 

 

 

2,982

 

Total liabilities

 

 

574,765

 

 

 

167,912

 

Commitments and contingencies (Note 8)

 

 

 

 

 

 

 

 

Redeemable non-controlling interest (Note 4)

 

 

4,453

 

 

 

4,387

 

Stockholders' equity:

 

 

 

 

 

 

 

 

Common stock

 

 

556

 

 

 

547

 

Additional paid-in capital

 

 

548,201

 

 

 

451,571

 

Accumulated other comprehensive income

 

 

415

 

 

 

45

 

Accumulated deficit

 

 

(152,751

)

 

 

(130,594

)

Total stockholders' equity

 

 

396,421

 

 

 

321,569

 

Total liabilities, redeemable non-controlling interest, and stockholders' equity

 

$

975,639

 

 

$

493,868

 

 

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.

4


BLACKLINE, INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)

(in thousands, except per share data)

 

 

 

Quarter Ended September 30,

 

 

Nine Months Ended September 30,

 

 

 

2019

 

 

2018

 

 

2019

 

 

2018

 

Revenues

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Subscription and support

 

$

70,311

 

 

$

56,170

 

 

$

197,651

 

 

$

157,842

 

Professional services

 

 

4,614

 

 

 

2,564

 

 

 

11,067

 

 

 

7,630

 

Total revenues

 

 

74,925

 

 

 

58,734

 

 

 

208,718

 

 

 

165,472

 

Cost of revenues

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Subscription and support

 

 

11,689

 

 

 

11,174

 

 

 

34,109

 

 

 

30,048

 

Professional services

 

 

3,603

 

 

 

2,343

 

 

 

9,745

 

 

 

6,941

 

Total cost of revenues

 

 

15,292

 

 

 

13,517

 

 

 

43,854

 

 

 

36,989

 

Gross profit

 

 

59,633

 

 

 

45,217

 

 

 

164,864

 

 

 

128,483

 

Operating expenses

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Sales and marketing

 

 

41,848

 

 

 

31,709

 

 

 

114,888

 

 

 

93,086

 

Research and development

 

 

11,558

 

 

 

7,261

 

 

 

32,694

 

 

 

22,001

 

General and administrative

 

 

14,088

 

 

 

11,268

 

 

 

40,444

 

 

 

34,808

 

Total operating expenses

 

 

67,494

 

 

 

50,238

 

 

 

188,026

 

 

 

149,895

 

Loss from operations

 

 

(7,861

)

 

 

(5,021

)

 

 

(23,162

)

 

 

(21,412

)

Other income (expense)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest income

 

 

2,161

 

 

 

578

 

 

 

3,590

 

 

 

1,474

 

Interest expense

 

 

(3,006

)

 

 

 

 

 

(3,006

)

 

 

(4

)

Other income (expense), net

 

 

(845

)

 

 

578

 

 

 

584

 

 

 

1,470

 

Loss before income taxes

 

 

(8,706

)

 

 

(4,443

)

 

 

(22,578

)

 

 

(19,942

)

Provision for income taxes

 

 

206

 

 

 

17

 

 

 

557

 

 

 

130

 

Net loss

 

 

(8,912

)

 

 

(4,460

)

 

 

(23,135

)

 

 

(20,072

)

Net loss and adjustment attributable to non-controlling interest (Note 4)

 

 

330

 

 

 

 

 

 

(85

)

 

 

 

Net loss attributable to BlackLine, Inc.

 

$

(9,242

)

 

$

(4,460

)

 

$

(23,050

)

 

$

(20,072

)

Basic net loss per share attributable to BlackLine, Inc.

 

$

(0.17

)

 

$

(0.08

)

 

$

(0.42

)

 

$

(0.37

)

Shares used to calculate basic net loss per share

 

 

55,480

 

 

 

54,263

 

 

 

55,164

 

 

 

53,660

 

Diluted net loss per share attributable to BlackLine, Inc.

 

$

(0.17

)

 

$

(0.08

)

 

$

(0.42

)

 

$

(0.37

)

Shares used to calculate diluted net loss per share

 

 

55,480

 

 

 

54,263

 

 

 

55,164

 

 

 

53,660

 

 

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.


5


BLACKLINE, INC.

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (UNAUDITED)

(in thousands)

 

 

Quarter Ended September 30,

 

 

Nine Months Ended September 30,

 

 

2019

 

 

2018

 

 

2019

 

 

2018

 

Net loss

$

(8,912

)

 

$

(4,460

)

 

$

(23,135

)

 

$

(20,072

)

Other comprehensive income (loss):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net change in unrealized gains (losses) on marketable securities, net of tax of $0 for the quarters and nine months ended September 30, 2019 and 2018

 

(23

)

 

 

25

 

 

 

213

 

 

 

(29

)

Foreign currency translation

 

10

 

 

 

 

 

 

308

 

 

 

 

Other comprehensive income (loss)

 

(13

)

 

 

25

 

 

 

521

 

 

 

(29

)

Comprehensive loss

 

(8,925

)

 

 

(4,435

)

 

 

(22,614

)

 

 

(20,101

)

Less: Other comprehensive loss attributable to

    redeemable non-controlling interest (excluding

    adjustment to redeemable non-controlling interest)

 

(504

)

 

 

 

 

 

(827

)

 

 

 

Comprehensive loss attributable to BlackLine, Inc.

$

(8,421

)

 

$

(4,435

)

 

$

(21,787

)

 

$

(20,101

)

 

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.

6


BLACKLINE, INC.

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY (UNAUDITED)

(in thousands)

 

 

 

Quarter Ended September 30, 2019

 

 

 

Common Stock

 

 

Additional

Paid-in

 

 

Accumulated

Other

Comprehensive

 

 

Accumulated

 

 

 

 

 

 

 

Shares

 

 

Amount

 

 

Capital

 

 

Income

 

 

Deficit

 

 

Total

 

Balance at June 30, 2019

 

 

55,307

 

 

$

553

 

 

$

470,681

 

 

$

299

 

 

$

(144,348

)

 

$

327,185

 

Stock option exercises

 

 

247

 

 

 

2

 

 

 

3,803

 

 

 

 

 

 

 

 

 

3,805

 

Vesting of restricted stock units

 

 

77

 

 

 

1

 

 

 

 

 

 

 

 

 

 

 

 

1

 

Issuance of common stock through employee stock purchase plan

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Acquisition of common stock for tax

    withholding obligations

 

 

 

 

 

 

 

 

(784

)

 

 

 

 

 

 

 

 

(784

)

Stock-based compensation

 

 

 

 

 

 

 

 

10,260

 

 

 

 

 

 

 

 

 

10,260

 

Other comprehensive loss

 

 

 

 

 

 

 

 

 

 

 

116

 

 

 

 

 

 

116

 

Equity component of convertible senior notes,

    net of issuance costs

 

 

 

 

 

 

 

 

111,230

 

 

 

 

 

 

 

 

 

111,230

 

Purchase of capped calls

 

 

 

 

 

 

 

 

(46,150

)

 

 

 

 

 

 

 

 

(46,150

)

Net loss attributable to BlackLine, Inc.,

    including adjustment to redeemable

    non-controlling interest

 

 

 

 

 

 

 

 

(839

)

 

 

 

 

 

(8,403

)

 

 

(9,242

)

Balance at September 30, 2019

 

 

55,631

 

 

$

556

 

 

$

548,201

 

 

$

415

 

 

$

(152,751

)

 

$

396,421

 

 

 

 

Nine Months Ended September 30, 2019

 

 

 

Common Stock

 

 

Additional

Paid-in

 

 

Accumulated

Other

Comprehensive

 

 

Accumulated

 

 

 

 

 

 

 

Shares

 

 

Amount

 

 

Capital

 

 

Income

 

 

Deficit

 

 

Total

 

Balance at December 31, 2018

 

 

54,683

 

 

$

547

 

 

$

451,571

 

 

$

45

 

 

$

(130,594

)

 

$

321,569

 

Stock option exercises

 

 

535

 

 

 

4

 

 

 

8,363

 

 

 

 

 

 

 

 

 

8,367

 

Vesting of restricted stock units

 

 

339

 

 

 

4

 

 

 

 

 

 

 

 

 

 

 

 

4

 

Issuance of common stock through employee stock purchase plan

 

 

74

 

 

 

1

 

 

 

2,551

 

 

 

 

 

 

 

 

 

2,552

 

Acquisition of common stock for tax

    withholding obligations

 

 

 

 

 

 

 

 

(3,372

)

 

 

 

 

 

 

 

 

(3,372

)

Stock-based compensation

 

 

 

 

 

 

 

 

24,901

 

 

 

 

 

 

 

 

 

24,901

 

Other comprehensive income

 

 

 

 

 

 

 

 

 

 

 

370

 

 

 

 

 

 

370

 

Equity component of convertible senior notes,

    net of issuance costs

 

 

 

 

 

 

 

 

111,230

 

 

 

 

 

 

 

 

 

111,230

 

Purchase of capped calls

 

 

 

 

 

 

 

 

(46,150

)

 

 

 

 

 

 

 

 

(46,150

)

Net loss attributable to BlackLine, Inc.,

    including adjustment to redeemable

    non-controlling interest

 

 

 

 

 

 

 

 

(893

)

 

 

 

 

 

(22,157

)

 

 

(23,050

)

Balance at September 30, 2019

 

 

55,631

 

 

$

556

 

 

$

548,201

 

 

$

415

 

 

$

(152,751

)

 

$

396,421

 

 

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.

7


BLACKLINE, INC.

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY (cont.) (UNAUDITED)

(in thousands)

 

 

 

Quarter Ended September 30, 2018

 

 

 

Common Stock

 

 

Additional

Paid-in

 

 

Accumulated

Other

Comprehensive

 

 

Accumulated

 

 

 

 

 

 

 

Shares

 

 

Amount

 

 

Capital

 

 

Loss

 

 

Deficit

 

 

Total

 

Balance at June 30, 2018

 

 

53,837

 

 

$

539

 

 

$

432,068

 

 

$

(117

)

 

$

(118,402

)

 

$

314,088

 

Stock option exercises

 

 

806

 

 

 

8

 

 

 

7,408

 

 

 

 

 

 

 

 

 

7,416

 

Vesting of restricted stock units

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Acquisition of common stock for tax

    withholding obligations

 

 

 

 

 

 

 

 

(112

)

 

 

 

 

 

 

 

 

(112

)

Stock-based compensation

 

 

 

 

 

 

 

 

5,476

 

 

 

 

 

 

 

 

 

5,476

 

Other comprehensive income

 

 

 

 

 

 

 

 

 

 

 

25

 

 

 

 

 

 

25

 

Net loss attributable to BlackLine, Inc.,

    including adjustment to redeemable

    non-controlling interest

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(4,460

)

 

 

(4,460

)

Balance at September 30, 2018

 

 

54,643

 

 

$

547

 

 

$

444,840

 

 

$

(92

)

 

$

(122,862

)

 

$

322,433

 

 

 

 

Nine Months Ended September 30, 2018

 

 

 

Common Stock

 

 

Additional

Paid-in

 

 

Accumulated

Other

Comprehensive

 

 

Accumulated

 

 

 

 

 

 

 

Shares

 

 

Amount

 

 

Capital

 

 

Loss

 

 

Deficit

 

 

Total

 

Balance at December 31, 2017