Condensed Consolidated Balance Sheets
(in thousands)
(unaudited)
| December 31, | ||||||||
| 2018 | 2017 | |||||||
| Assets | ||||||||
| Current assets: | ||||||||
| Cash and cash equivalents | $ | 194,306 | $ | 28,267 | ||||
| Accounts receivable, net | 63,436 | 38,229 | ||||||
| Prepaid expenses and other current assets | 8,323 | 5,125 | ||||||
| Total current assets | 266,065 | 71,621 | ||||||
| Property and equipment, net | 31,641 | 22,457 | ||||||
| Content library, net | 7,050 | 13,441 | ||||||
| Intangible assets, net | 1,759 | 2,854 | ||||||
| Goodwill | 123,119 | 123,119 | ||||||
| Restricted cash | 16,765 | 210 | ||||||
| Other assets | 1,064 | 2,718 | ||||||
| Total assets | $ | 447,463 | $ | 236,420 | ||||
| Liabilities, redeemable convertible preferred units, and stockholders' equity/members’ deficit | ||||||||
| Current liabilities: | ||||||||
| Accounts payable | $ | 7,160 | $ | 6,029 | ||||
| Accrued expenses | 32,047 | 26,514 | ||||||
| Accrued author fees | 10,002 | 7,879 | ||||||
| Deferred revenue | 157,695 | 103,107 | ||||||
| Total current liabilities | 206,904 | 143,529 | ||||||
| Deferred revenue, net of current portion | 14,886 | 8,194 | ||||||
| Long-term debt | — | 116,037 | ||||||
| Facility financing obligations | 15,777 | 7,513 | ||||||
| Other liabilities | 1,303 | 458 | ||||||
| Total liabilities | 238,870 | 275,731 | ||||||
| Redeemable convertible preferred units | — | 405,766 | ||||||
| Stockholders' equity/members’ deficit: | ||||||||
| Preferred stock | — | — | ||||||
| Class A common stock | 7 | — | ||||||
| Class B common stock | 6 | — | ||||||
| Class C common stock | 1 | — | ||||||
| Additional paid-in capital | 452,576 | — | ||||||
| Accumulated other comprehensive (loss) income | (41 | ) | 25 | |||||
| Accumulated deficit | (351,123 | ) | (445,102 | ) | ||||
| Total stockholders' equity attributable to Pluralsight, Inc./members' deficit | 101,426 | (445,077 | ) | |||||
| Non-controlling interests | 107,167 | — | ||||||
| Total stockholders' equity/members' deficit | 208,593 | (445,077 | ) | |||||
| Total liabilities, redeemable convertible preferred units, and stockholders' equity/members’ deficit | $ | 447,463 | $ | 236,420 | ||||
PLURALSIGHT, INC.
