General form of registration statement for all companies including face-amount certificate companies

CONSOLIDATED STATEMENTS OF OPERATIONS

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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
 12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
OLD PlayStudios, Inc.      
Net revenues $ 269,882,000 $ 239,421,000 $ 195,499,000
Operating expenses:      
Cost of revenue [1] 91,469,000 80,267,000 66,784,000
Selling and marketing 57,124,000 59,931,000 54,068,000
General and administrative 16,960,000 16,712,000 19,620,000
Research and development 51,696,000 38,986,000 30,168,000
Depreciation and amortization 22,192,000 25,154,000 16,246,000
Restructuring expense 20,092,000 1,234,000 2,316,000
Total operating costs and expenses 259,533,000 222,284,000 189,202,000
Income from operations 10,349,000 17,137,000 6,297,000
Other income (expense), net:      
Interest expense (142,000) (264,000) (284,000)
Other income (expense), net 929,000 716,000 (227,000)
Total other expense, net 787,000 452,000 (511,000)
Income before income taxes 11,136,000 17,589,000 5,786,000
Income tax benefit (expense) 1,671,000 (3,975,000) (2,964,000)
Net income [2],[3] 12,807,000 13,614,000 2,822,000
Net income attributable to common stockholders:      
Basic [4] 5,985,000 6,440,000 3,367,000
Diluted [4] $ 6,420,000 $ 6,669,000 $ 3,477,000
Net income attributable to common stockholders per share:      
Basic $ 0.03 $ 0.03 $ 0.01
Diluted $ 0.02 $ 0.03 $ 0.01
Weighted average shares of common stock outstanding:      
Basic 236,118,856 234,070,277 229,409,649
Diluted 283,067,558 255,453,583 248,179,915
[1] Amounts exclude depreciation and amortization.
[2] As further discussed in Note 13, a related party held a noncontrolling interest in the Company’s subsidiary, International. As International incurred losses prior to the Company’s purchase of the noncontrolling interest in 2018 and losses of International were not allocable to the noncontrolling interest, net and comprehensive losses of International were not allocated to the noncontrolling interest.
[3] As further discussed in Note 13, a related party held a noncontrolling interest in the Company’s subsidiary, PlayStudios International Limited (“International”). As International incurred losses prior to the Company’s purchase of the noncontrolling interest in 2018 and losses of International were not allocable to the noncontrolling interest, net and comprehensive losses of International were not allocated to the noncontrolling interest.
[4] Refer to Note 15 for determination of net come attributable to common stockholders versus participating preferred stockholders, including discussion of deemed contributions related to the redemption of preferred NCI and the associated impact on 2018 net income attributable to common stockholders.