v3.20.2
Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Income Statement [Abstract]        
Net revenue $ 120,808 $ 128,091 $ 243,383 $ 257,697
Operating expenses:        
Cost of services 27,624 28,536 55,634 55,300
Selling, general and administrative, including stock-based and long-term incentive compensation 32,541 28,163 76,994 59,385
Radio conversion costs 3,667 0 8,491 0
Amortization of subscriber accounts, deferred contract acquisition costs and other intangible assets 54,368 49,138 107,649 98,283
Depreciation 3,451 3,121 6,560 6,275
Goodwill impairment     81,943 0
Total operating expenses 121,651 108,958 337,271 219,243
Operating (loss) income (843) 19,133 (93,888) 38,454
Other expense (income):        
Restructuring and reorganization expense 0 33,102 0 33,102
Interest expense 20,207 40,536 40,549 77,969
Realized and unrealized gain, net on derivative financial instruments 0 (969) 0 6,804
Refinancing expense     0 5,214
Total other (income) expense 20,207 72,669 40,549 123,089
Loss before income taxes (21,050) (53,536) (134,437) (84,635)
Income tax expense 602 666 1,220 1,337
Net loss (21,652) (54,202) (135,657) (85,972)
Other comprehensive income (loss):        
Unrealized gain (loss) on derivative contracts, net 19 (472) (1,794) (940)
Total other comprehensive income (loss), net of tax 19 (472) (1,794) (940)
Comprehensive loss $ (21,633) $ (54,674) $ (137,451) $ (86,912)
Basic and diluted income per share:        
Net loss (in dollars per share) $ (0.96) $ 0 $ (6.03) $ 0

Source