What changed in this filing

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Item 5. Market for Registrant’s Common Equity

2022-02-18 compared with 2021-02-26 · 21 added, 37 removed, 31 unchanged (65% of the section changed)

5 unchanged sentences

There were significantly more beneficial owners of our Class A common stock.

As of January 31, 2021, there were approximately 22 stockholders of record of our Class B common stock.

As of January 31, 2022, there were 16 stockholders of record of our Class B common stock.

Dividend Policy

6 unchanged sentences

The following graph shows the cumulative total stockholder return of an investment of $100 in cash from September 29, 2017 (the date our Class A common stock commenced trading on The Nasdaq Global Select Market) through December 31, 2021, for (i) our Class A common stock, (ii) the Nasdaq Composite Index, and (iii) the Peer Group of companies.

Because no published index of comparable player and platform companies is currently available, we have used Peer Group of companies for the purposes of this graph in accordance with the requirements of the SEC.

The Peer Group is made up of Facebook, Inc., Alphabet, Inc., Logitech International S.A., Netflix, Inc., Snap, Inc., Twitter, Inc., Yelp, Inc.

and Zillow Group, Inc.

Not all of the companies included in Peer Group participate in all the lines of business in which we are engaged, and some of the companies are engaged in lines of business in which we do not participate.

Because no published index of comparable player and platform companies is currently available, we have used the Peer Group of companies for the purposes of this graph in accordance with the requirements of the SEC.

The Peer Group is made up of Alphabet, Inc., Logitech International S.A., Meta Platforms, Inc., Netflix, Inc., Snap, Inc., Twitter, Inc., Yelp, Inc., and Zillow Group, Inc.

Not all of the companies included in the Peer Group participate in all the lines of business in which we are engaged, and some of the companies are engaged in lines of business in which we do not participate.

Additionally, the market capitalization of some of the companies included in the Peer Group are different from ours.

1 unchanged sentence

The stockholder return shown on the graph below is not necessarily indicative of future performance, and we do not make or endorse any predictions as to future stockholder returns.

Company / Index

Company / Index Dec-17 Dec-18 Dec-19 Dec-20 Dec-21

$370 $219 $956 $2,371 $1,630

Nasdaq Composite Index $107 $104 $142 $206 $252

The information under “Stock Performance Graphs and Cumulative Total Return” is not deemed to be “soliciting material” or “filed” with the SEC or subject to Regulation 14A or 14C, or to the liabilities of Section 18 of the Exchange Act and is not to be incorporated by reference in any filing of the Company under the Securities Act, or the Exchange Act, whether made before or after the date of this Annual Report on Form 10-K and irrespective of any general incorporation language in those filings.

Peer Group $107 $98 $134 $193 $270

Prepared by Zacks Investment Research, Inc.

Used with permission.

The information under “Stock Performance Graphs and Cumulative Total Return” is not deemed to be “soliciting material” or “filed” with the SEC or subject to Regulation 14A or 14C, or to the liabilities of Section 18 of the Exchange Act and is not to be incorporated by reference in any filing of the Company under the Securities Act, or the Exchange Act, whether made before or after the date of this Annual Report and irrespective of any general incorporation language in those filings.

Equity Compensation Plan Information

The following table summarizes information about our equity compensation plans as of December 31, 2021.

Plan Category

Number of securities to be

Plan Category Number of securities to be

issued upon exercise of

outstanding options and awards

Weighted average

outstanding options and awards Weighted-average

exercise price of

Number of securities

options (1) Number of securities

remaining available

6 unchanged sentences

Equity compensation plans not approved by security holders — — —

Total 9,460 $ 51.87 32,100

(1) Restricted stock units have been excluded for purposes of computing weighted-average exercise prices in column (b) as they do not have an exercise price.

(2) The number of securities remaining available for future issuance in column (c) includes 21,420 shares of Class A common stock, available for issuance under our 2017 Equity Incentive Plan (the “2017 Plan”) in column (a) and, includes 5,089 shares of Class A common stock available for issuance under our 2017 Employee Stock Purchase Plan.

The number of shares authorized for issuance under the 2017 Plan are subject to an annual increase.

Selected Financial Data

The selected consolidated financial data below should be read in conjunction with the Item 7, Management’s Discussion and Analysis of Financial Condition and Results of Operations and our consolidated financial statements and related notes included in Item 8 of this Report.

The consolidated statements of operations data for the years ended December 31, 2020, 2019 and 2018 and the consolidated balance sheets data as of December 31, 2020 and 2019 are derived from our audited financial statements appearing in Item 8 of this Report.

The consolidated statements of operations data for the year ended December 31, 2017 and 2016 and the consolidated balance sheets data as of December 31, 2018, 2017 and 2016 are derived from audited financial statements not included in this Report.

Our historical results are not necessarily indicative of the results that may be expected in any future period.

In 2017, the Company changed the fiscal year-end to match the calendar year-end.

Prior to 2017, the Company’s fiscal year was the 52- or 53-week period that ended on the last Saturday of December.

Fiscal year 2016 ended on December 31, 2016 and spanned 53 weeks.

Years Ended December 31,

(in thousands, except per share data)

Consolidated Statements of Operations Data:

Total net revenue

Net loss attributable to common stockholders

Net loss per share attributable to common stockholders— basic and diluted (3)

Weighted-average shares used in computing net loss per share attributable to common stockholders—basic and diluted

Consolidated Balance Sheets Data:

Total long-term liabilities (4)

We adopted the guidance in Revenue from Contracts (Topic 606) using the modified retrospective method effective January 1, 2018.

Accordingly, the consolidated statement of operations for the years ended December 31, 2020, 2019 and 2018 reflect the impact of this adoption.

We adopted the guidance in Leases (Topic 842) using the optional transition method effective January 1, 2019.

Accordingly, the consolidated statement of operations and consolidated balance sheets for the year ended December 31, 2020 and 2019 reflects the impact of this adoption.

See Note 16 to the consolidated financial statements in Item 8 of this Report, for an explanation of the calculations of basic and diluted net loss per common share.

Total long-term liabilities include non-current portions of debt, operating lease liabilities, deferred revenue, other long-term liabilities and preferred stock warrant liability.

(2) The number of securities remaining available for future issuance in column (c) includes 27,011 shares of Class A common stock available for issuance under our 2017 Equity Incentive Plan (the “2017 Plan”) and 5,089 shares of Class A common stock available for issuance under our 2017 Employee Stock Purchase Plan.

The number of shares authorized for issuance under the 2017 Plan is subject to an annual increase.

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.

What changed 10-K

Item 5. Market for Registrant’s Common Equity