XML 43 R29.htm IDEA: XBRL DOCUMENT v3.19.2
Business Segments (Tables)
 6 Months Ended
Jun. 30, 2019
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information, by Segment
The table below presents financial information for the Company’s reportable segments and Other for the three and six months ended June 30, 2019 and 2018 (in thousands):
 
North America
 
EMEA
 
LATAM
 
Other(2)
 
Total
Three Months Ended June 30, 2019:
 
 
 
 
 
 
 
 
 
Revenue from third parties
$
200,283

 
$
62,483

 
$
21,287

 
$
—

 
$
284,053

Revenue from other segments
650

 
2,713

 
2

 
(3,365
)
 
—

Total revenue
200,933

 
65,196

 
21,289

 
(3,365
)
 
284,053

Adjusted EBITDA(1)
21,151

 
4,292

 
611

 
(12,414
)
 
13,640

 
 
 
 
 
 
 
 
 
 
Three Months Ended June 30, 2018:
 
 
 
 
 
 
 
 
 
Revenue from third parties
$
194,735

 
$
65,039


$
22,193

 
$
—

 
$
281,967

Revenue from other segments
951

 
2,696


(48
)
 
(3,599
)
 
—

Total revenue
195,686

 
67,735


22,145

 
(3,599
)
 
281,967

Adjusted EBITDA(1)
18,372

 
805


1,244

 
(12,235
)
 
8,186


 
North America
 
EMEA
 
LATAM
 
Other(2)
 
Total
Six Months Ended June 30, 2019:


 


 


 


 


Revenue from third parties
$
388,584

 
$
122,662

 
$
40,045

 
$
—

 
$
551,291

Revenue from other segments
1,213

 
4,360

 
4

 
(5,577
)
 
—

Total revenue
389,797

 
127,022

 
40,049

 
(5,577
)
 
551,291

Adjusted EBITDA(1)
36,602

 
6,819

 
876

 
(24,083
)
 
20,214

 
 
 
 
 
 
 
 
 
 
Six Months Ended June 30, 2018
 
 
 
 
 
 
 
 
 
Revenue from third parties
$
384,012

 
$
129,207


$
43,287

 
$
—

 
$
556,506

Revenue from other segments
2,371

 
5,346


78

 
(7,795
)
 
—

Total revenue
386,383

 
134,553


43,365

 
(7,795
)
 
556,506

Adjusted EBITDA(1)
35,588

 
2,310


1,830

 
(24,193
)
 
15,535



(1)
Adjusted EBITDA, which represents income from operations with the addition of depreciation and amortization, stock-based compensation expense, restructuring charges, professional fees related to ASC 606 implementation, executive search costs and restatement-related professional fees is considered a non-GAAP financial measure under SEC regulations. Income from operations is the most directly comparable financial measure calculated in accordance with GAAP. The Company presents this measure as supplemental information to help investors better understand trends in its business results over time. The Company’s management team uses Adjusted EBITDA to evaluate the performance of the business. Adjusted EBITDA is not equivalent to any measure of performance required to be reported under GAAP, nor should this data be considered an indicator of the Company’s overall financial performance and liquidity. Moreover, the Adjusted EBITDA definition the Company uses may not be comparable to similarly titled measures reported by other companies.
Schedule Of Earnings Before Interest Tax Depreciation and Amortization Reconciliation [Table Text Block]
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2019
 
2018
 
2019
 
2018
 
 
 
 
 
 
 
 
Adjusted EBITDA
13,640

 
8,186

 
20,214

 
15,535

Depreciation and amortization
(3,233
)
 
(3,514
)
 
(5,849
)
 
(7,173
)
Stock-based compensation expense
(1,402
)
 
(1,406
)
 
(2,141
)
 
(2,823
)
Stock appreciation rights market-to-market
(46
)
 
—

 
(46
)
 
—

Restructuring charges
(3,698
)
 
—

 
(7,632
)
 
—

Control remediation-related fees
(175
)
 
(537
)
 
(540
)
 
(537
)
Executive search fees
—

 
(234
)
 
(80
)
 
(234
)
Professional fees related to ASC 606 implementation
—

 
(60
)
 
 
 
(1,092
)
Sales and use tax audit
(1,235
)
 
—

 
(1,235
)
 
—

Other professional fees
(376
)
 
(80
)
 
(376
)
 
(80
)
Income (Loss) from operations
3,475

 
2,355

 
2,315

 
3,596

Interest income
104

 
54

 
202

 
115

Interest expense
(2,486
)
 
(1,517
)
 
(5,232
)
 
(3,085
)
Other, net
279

 
(588
)
 
(460
)
 
(1,433
)
Income (Loss) before income taxes
$
1,372

 
$
304

 
$
(3,175
)
 
$
(807
)