6 unchanged sentences
We do not intend to declare or pay any cash dividends in the foreseeable future.
+Added: Securities Authorized for Issuance under Equity Compensation Plans
+Added: See Part III, Item 12, “Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters” of this Annual Report on Form 10-K for more information regarding securities authorized for issuance.
Unregistered Sales of Securities
−Removed: In August 2020, we issued $1.0 billion in aggregate principal amount of 2026 notes, in a private placement to qualified institutional buyers pursuant to Rule 144A of the Securities Act of 1933, as amended.
−Removed: The notes are convertible into shares of our common stock on the terms set forth in the indenture governing the notes.
−Removed: Information relating to the issuance of the notes was provided in a Current Report on Form 8-K filed with the Securities and Exchange Commission on August 24, 2020.
−Removed: See Note 10, “Convertible Senior Notes,” of our consolidated financial statements and related notes included in Part II, Item 8, “Consolidated Financial Statements and Supplementary Data” of this Annual Report on Form 10-K for more information.
−Removed: In June 2020, our board of directors approved a securities repurchase program authorizing our repurchase of up to $500.0 million of our common stock and/or convertible notes, through open market purchases, block trades, and/or privately negotiated transactions or pursuant to Rule 10b5-1 plans, in compliance with applicable securities laws and other legal requirements.
+Added: We had no unregistered sales of our securities during the three months ended December 31, 2021.
+Added: Securities Repurchase Program
+Added: In November 2021, our board of directors approved a $500.0 million increase to our existing securities repurchase program authorizing the repurchase of up to $1.0 billion of our common stock and/or convertible notes, through open market purchases, block trades, and/or privately negotiated transactions or pursuant to Rule 10b5-1 plans, in compliance with applicable securities laws and other legal requirements.
The timing, volume, and nature of the repurchases will be determined by management based on the capital needs of the business, market conditions, applicable legal requirements, and other factors.
−Removed: During the three months ended December 31, 2020, we repurchased $57.4 million of aggregate principal amount of the 2023 notes in privately-negotiated transactions for an aggregate consideration of $149.6 million and have $350.4 million remaining under the repurchase program.
−Removed: The repurchase program will end on December 31, 2021.
+Added: As of December 31, 2021, $365.5 million remains under the repurchase program, which has no expiration date and will continue until otherwise suspended, terminated or modified at any time for any reason by our board of directors.
Purchases of Securities by the Registrant and Affiliated Purchasers
−Removed: We did not repurchase any of our securities during the three months ended December 31, 2020, other than in connection with the forfeiture of common stock by holders of restricted stock units in exchange for payments by the Company of statutory tax withholding amounts on behalf of the holders arising as a result of the vesting of restricted stock units.
+Added: The following table summarizes the securities repurchase activity for the three months ended December 31, 2021 (in thousands, except total number of securities repurchased):
+Added: Period Total Number of Securities Repurchased Average Price Paid Per Security (1)
+Added: Total Number of Securities Purchased Pursuant to Publicly-Announced Plan
+Added: Total Dollar Amount Purchased Pursuant to Publicly-Announced Plan
+Added: Maximum Dollar Amount Remaining Available for Repurchase Pursuant to Publicly-Announced Plan
+Added: As of September 30, 2021 — $ — — $ — $ 665,491
+Added: October 1 - October 31
+Added: — — — — 665,491
+Added: November 1 - November 30
+Added: — — — — 665,491
+Added: December 1 - December 31
+Added: 8,403,361 $ — 8,403,361 $ 300,000 $ 365,491
+Added: (1) On December 3, 2021, we entered into an accelerated share repurchase (ASR) agreement with a financial institution (2021 ASR) to repurchase $300.0 million of our outstanding common stock.
+Added: In exchange for an upfront payment of $300.0 million, we received an initial
+Added: delivery of 8,403,361 shares of our common stock.
+Added: The average price paid per security is not applicable as settlement did not occur during the three months ended December 31, 2021.
+Added: The 2021 ASR settled during the first quarter of 2022 and we received an additional delivery of 2,163,219 shares of our common stock at a volume-weighted-average price, less an agreed upon discount, of $28.3914 per share.
+Added: See Note 15, “Stockholders' Equity,” of our accompanying Notes to Consolidated Financial Statements included in Part II, Item 8, “Consolidated Financial Statements and Supplementary Data” of this Annual Report on Form 10-K for additional information on the 2021 ASR.
+Added: Aside from the 2021 ASR, we did not repurchase any of our securities during the three months ended December 31, 2021, other than in connection with the forfeiture of common stock by holders of restricted stock units in exchange for payments of statutory tax withholding amounts on behalf of the holders arising as a result of the vesting of restricted stock units.
Stock Performance Graph
3 unchanged sentences
The stock price performance of the following graph is not necessarily indicative of future stock price performance.
−Removed: T a b l e o f C o n t e n t s
−Removed: SELECTED FINANCIAL DATA
−Removed: The selected financial data set forth below should be read together with Part II, Item 7, “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and our consolidated financial statements and related notes included in Part II, Item 8, “Consolidated Financial Statements and Supplementary Data” of this Annual Report on Form 10-K.
−Removed: Our historical results are not necessarily indicative of our results in any future period.
−Removed: Years Ended December 31,
−Removed: 2020 2019 2018 2017 2016
−Removed: (in thousands, except per share amounts)
−Removed: Consolidated Statements of Operations Data:
−Removed: Net revenues $ 644,338 $ 410,926 $ 321,084 $ 255,066 $ 254,090
−Removed: Gross profit 438,921 318,744 241,088 174,891 134,489
−Removed: Net loss (6,221) (9,605) (14,888) (20,283) (42,245)
−Removed: Net loss per share, basic and diluted $ (0.05) $ (0.08) $ (0.13) $ (0.20) $ (0.47)
−Removed: Weighted average shares used to compute net loss per share, basic and diluted 125,367 119,204 113,251 100,022 90,534
−Removed: As of December 31,
−Removed: 2020 2019 2018 2017 2016
−Removed: (in thousands)
−Removed: Consolidated Balance Sheets Data:
−Removed: Total assets $ 2,251,258 $ 1,488,998 $ 760,938 $ 446,930 $ 290,652
−Removed: Deferred revenue 32,620 18,780 17,418 13,440 14,836
−Removed: Convertible senior notes, net 1,506,922 900,303 283,668 — —
−Removed: Common stock and additional paid-in capital 1,030,706 916,217 818,229 782,955 593,443
−Removed: Total stockholders’ equity 609,635 498,829 410,634 391,062 221,939
−Removed: T a b l e o f C o n t e n t s
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.