View Filing Data

Estimated useful life

Gross carrying

amount

A self-developed computer software and systems

Print Document View Excel Document

Document and Entity Information	12 Months Ended
Document and Entity Information	Dec. 31, 2017 shares
Document Information [Line Items]
Document Type	20-F
Amendment Flag	false
Document Period End Date	Dec. 31, 2017
Document Fiscal Year Focus	2017
Document Fiscal Period Focus	FY
Trading Symbol	ICLK
Entity Registrant Name	iClick Interactive Asia Group Ltd
Entity Central Index Key	0001697818
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Ordinary Shares - Class A [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding	21,238,825
Ordinary Shares - Class B [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding	4,820,608

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Current assets
Cash and cash equivalents	$ 19,401	$ 27,280
Time deposit	25,000	0
Restricted cash	0	5,234
Accounts receivable, net of allowance for doubtful receivables of US$1,693 and US$1,478 as of December 31, 2016 and 2017, respectively	40,798	30,694
Rebates receivable	1,334	2,250
Prepaid media costs	37,784	34,409
Other current assets	3,107	3,055
Income tax receivable	3	47
Total current assets	127,427	102,969
Non-current assets
Deferred tax assets	850	682
Property and equipment, net	1,165	2,318
Intangible assets, net	10,600	14,804
Goodwill	48,496	48,496
Other assets	284	371
Total non-current assets	61,395	66,671
Total assets	188,822	169,640
Current liabilities
Accounts payable (including accounts payable of the consolidated variable interest entity ("VIE") and its subsidiary without recourse to the Company of US$28 and US$29 as of December 31, 2016 and 2017, respectively)	3,904	9,189
Deferred revenue (including deferred revenue of the consolidated VIE and its subsidiary without recourse to the Company of US$11,878 and US$5,986 as of December 31, 2016 and 2017, respectively)	33,037	25,697
Accrued liabilities and other current liabilities (including accrued liabilities and other current liabilities of the consolidated VIE and its subsidiary without recourse to the Company of US$404 and US$804 as of December 31, 2016 and 2017, respectively)	16,129	15,091
Derivative liabilities	0	60,525
Bank borrowings	10,486	12,982
Income tax payable	2,123	2,021
Total current liabilities	65,679	125,505
Non-current liabilities
Deferred tax liabilities	3,159	3,705
Derivative liabilities	0	359
Total non-current liabilities	3,159	4,064
Total liabilities	68,838	129,569
Commitments and contingencies		0
Mezzanine equity
Total mezzanine equity	0	104,383
Shareholders' (deficit)/equity
Treasury shares (2,149,280 and 2,123,382 shares as of December 31, 2016 and 2017, respectively)	(2,093)	(2,468)
Additional paid-in capital	274,294	65,687
Statutory reserves	81	81
Accumulated other comprehensive losses	(3,320)	(3,241)
Accumulated deficit	(149,004)	(124,385)
Total shareholders' (deficit)/equity	119,984	(64,312)
Total liabilities, mezzanine equity and shareholders' (deficit)/equity	188,822	169,640
Series A Preferred Stock [Member]
Mezzanine equity
Total mezzanine equity	0	5,597
Series B Preferred Stock [Member]
Mezzanine equity
Total mezzanine equity	0	9,807
Series C Preferred Stock [Member]
Mezzanine equity
Total mezzanine equity	0	10,733
Series D Preferred Stock [Member]
Mezzanine equity
Total mezzanine equity	0	43,956
Series E Preferred Stock [Member]
Mezzanine equity
Total mezzanine equity	0	18,845
Ordinary Shares [Member]
Mezzanine equity
Total mezzanine equity	0	15,445
Ordinary Shares - Class A [Member]
Shareholders' (deficit)/equity
Ordinary shares	21	14
Ordinary Shares - Class B [Member]
Shareholders' (deficit)/equity
Ordinary shares	$ 5	$ 0

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Accounts receivable, allowance for doubtful receivables	$ 1,478	$ 1,693
Accounts payable of the consolidated variable interest entity ("VIE") and its subsidiary without recourse to the Company	3,904	9,189
Deferred revenue of the consolidated VIE and its subsidiary without recourse to the Company	33,037	25,697
Accrued liabilities and other current liabilities of the consolidated VIE and its subsidiary without recourse to the Company	$ 16,129	$ 15,091
Treasury stock, shares	2,123,382	2,149,280
Ordinary shares, par value	$ 0.001	$ 0.001
Ordinary shares, shares authorized	100,000,000	37,150,000
Ordinary shares, shares outstanding	26,059,433	13,609,208
Variable Interest Entity, Primary Beneficiary [Member]
Accounts payable of the consolidated variable interest entity ("VIE") and its subsidiary without recourse to the Company	$ 29	$ 28
Deferred revenue of the consolidated VIE and its subsidiary without recourse to the Company	5,986	11,878
Accrued liabilities and other current liabilities of the consolidated VIE and its subsidiary without recourse to the Company	$ 804	$ 404
Series A Preferred Stock [Member]
Convertible redeemable preferred shares, par value	$ 0.001	$ 0.001
Convertible redeemable preferred shares, shares authorized		2,500,000
Convertible redeemable preferred shares, shares issued	0	2,476,190
Convertible redeemable preferred shares, shares outstanding	0	2,476,190
Convertible redeemable preferred shares, redemption amount		$ 6,737
Series B Preferred Stock [Member]
Convertible redeemable preferred shares, par value	$ 0.001	$ 0.001
Convertible redeemable preferred shares, shares authorized		3,000,000
Convertible redeemable preferred shares, shares issued	0	1,889,249
Convertible redeemable preferred shares, shares outstanding	0	1,889,249
Convertible redeemable preferred shares, redemption amount		$ 14,625
Series C Preferred Stock [Member]
Convertible redeemable preferred shares, par value	$ 0.001	$ 0.001
Convertible redeemable preferred shares, shares authorized		1,650,000
Convertible redeemable preferred shares, shares issued	0	1,599,186
Convertible redeemable preferred shares, shares outstanding	0	1,599,186
Convertible redeemable preferred shares, redemption amount		$ 22,288
Series D Preferred Stock [Member]
Convertible redeemable preferred shares, par value	$ 0.001	$ 0.001
Convertible redeemable preferred shares, shares authorized		4,500,000
Convertible redeemable preferred shares, shares issued	0	2,493,018
Convertible redeemable preferred shares, shares outstanding	0	2,493,018
Convertible redeemable preferred shares, redemption amount		$ 58,874
Series E Preferred Stock [Member]
Convertible redeemable preferred shares, par value	$ 0.001	$ 0.001
Convertible redeemable preferred shares, shares authorized		1,200,000
Convertible redeemable preferred shares, shares issued	0	1,068,114
Convertible redeemable preferred shares, shares outstanding	0	1,068,114
Convertible redeemable preferred shares, redemption amount		$ 20,000
Ordinary Shares [Member]
Convertible redeemable preferred shares, par value	$ 0.001	$ 0.001
Convertible redeemable preferred shares, shares issued	0	742,320
Convertible redeemable preferred shares, shares outstanding	0	742,320
Ordinary Shares - Class A [Member]
Ordinary shares, par value	$ 0.001	$ 0.001
Ordinary shares, shares authorized	80,000,000	37,150,000
Ordinary shares, shares issued	21,238,825	13,609,208
Ordinary shares, shares outstanding	21,238,825	13,609,208
Ordinary Shares - Class B [Member]
Ordinary shares, par value	$ 0.001	$ 0.001
Ordinary shares, shares authorized	20,000,000	0
Ordinary shares, shares issued	4,820,608	0
Ordinary shares, shares outstanding	4,820,608	0

Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Income Statement [Abstract]
Net revenues	$ 125,258	$ 95,357	$ 65,242
Cost of revenues	(95,733)	(61,048)	(34,531)
Gross profit	29,525	34,309	30,711
Operating expenses
Research and development expenses	(5,778)	(8,584)	(8,106)
Sales and marketing expenses	(25,935)	(28,266)	(31,385)
General and administrative expenses	(12,983)	(26,767)	(12,745)
Total operating expenses	(44,696)	(63,617)	(52,236)
Operating loss	(15,171)	(29,308)	(21,525)
Interest expense	(551)	(713)	(107)
Other gains/(losses), net	1,841	(1,082)	791
Fair value (losses)/gains on derivative liabilities	(10,190)	3,995	(19,390)
Loss before income tax expense	(24,071)	(27,108)	(40,231)
Income tax benefit/(expense)	(548)	(222)	555
Share of loss from an equity investee	0	0	(38)
Net loss	(24,619)	(27,330)	(39,714)
Accretion of convertible redeemable preferred shares redemption value	(1,662)	(773)	(2,692)
Accretion to redeemable ordinary shares redemption value	(3,650)	(1,556)	(1,982)
Deemed contribution from Series B-1 preferred shareholders	0	0	2,591
Net loss attributable to iClick Interactive Asia Group Limited's ordinary shareholders	(29,931)	(29,659)	(41,797)
Net loss	(24,619)	(27,330)	(39,714)
Other comprehensive loss:
Foreign currency translation adjustment, net of US$nil tax	(79)	(139)	(129)
Comprehensive loss attributable to iClick Interactive Asia Group Limited	$ (24,698)	$ (27,469)	$ (39,843)
Net loss per share attributable to iClick Interactive Asia Group Limited
- Basic	$ (2.15)	$ (2.26)	$ (3.58)
- Diluted	$ (2.15)	$ (2.26)	$ (3.58)
Weighted average number of ordinary shares used in per share calculation:
- Basic	13,931,503	13,151,063	11,661,049
- Diluted	13,931,503	13,151,063	11,661,049

Consolidated Statements of Comprehensive Loss (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Income Statement [Abstract]
Foreign currency translation adjustment, tax	$ 0	$ 0	$ 0

Consolidated Statements of Changes in Shareholders' (Deficit ) Equity - USD ($) $ in Thousands	Total	Ordinary shares [Member]	Treasury Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Deficit [Member]	Statutory Reserves [Member]	Accumulated Other Comprehensive Losses [Member]
Beginning balance at Dec. 31, 2014	$ (62,813)	$ 11			$ (59,932)	$ 81	$ (2,973)
Beginning balance, shares at Dec. 31, 2014		11,102,278	1,143,044
Issuance of ordinary shares and reissuance of treasury shares upon acquisition of OptAim Limited	51,644	$ 3		$ 51,641
Issuance of ordinary shares and reissuance of treasury shares upon acquisition of OptAim Limited, shares		2,535,091	(600,169)
Reissuance of treasury shares upon acquisition of Buzzinate Company Limited	2,027			2,027
Reissuance of treasury shares upon acquisition of Buzzinate Company Limited, shares		142,151	(142,151)
Issuance of ordinary shares and held as treasury shares, shares			1,578,244
Repurchase of ordinary shares	(11,638)	$ (1)	$ (11,637)
Repurchase of ordinary shares, shares		(803,217)	803,217
Reissuance of treasury shares upon exercise of employee share options	283		$ 1,854	(1,571)
Reissuance of treasury shares upon exercise of employee share options, shares		127,997	(127,997)
Share-based compensation expense	6,494			6,494
Preferred shares accretion	(2,692)			(2,692)
Redeemable ordinary shares accretion	(1,982)			(1,982)
Deemed contribution upon repurchase of Series B-1 preferred shares	2,591				2,591
Net loss for the year	(39,714)				(39,714)
Foreign currency translation	(129)						(129)
Ending balance at Dec. 31, 2015	(55,929)	$ 13	$ (9,783)	53,917	(97,055)	81	(3,102)
Ending balance, shares at Dec. 31, 2015		13,104,300	2,654,188
Reissuance of treasury shares as share-based compensation		$ 1	$ 6,328	(6,329)
Reissuance of treasury shares as share-based compensation, shares		436,773	(436,773)
Reissuance of treasury shares upon exercise of employee share options	$ 171		$ 987	(816)
Reissuance of treasury shares upon exercise of employee share options, shares	68,135	68,135	(68,135)
Share-based compensation expense	$ 21,244			21,244
Preferred shares accretion	(773)			(773)
Redeemable ordinary shares accretion	(1,556)			(1,556)
Net loss for the year	(27,330)				(27,330)
Foreign currency translation	(139)						(139)
Ending balance at Dec. 31, 2016	$ (64,312)	$ 14	$ (2,468)	65,687	(124,385)	81	(3,241)
Ending balance, shares at Dec. 31, 2016	13,609,208	13,609,208	2,149,280
Reissuance of treasury shares upon exercise of employee share options	$ 60		$ 375	(315)
Reissuance of treasury shares upon exercise of employee share options, shares	25,898	25,898	(25,898)
Share-based compensation expense	$ 5,072			5,072
Preferred shares accretion	(1,662)			(1,662)
Redeemable ordinary shares accretion	(3,650)			(3,650)
Derecognition of derivative liabilities	71,074			71,074
Issuance of ordinary shares upon Initial public offering ("IPO")	28,405	$ 2		28,403
Issuance of ordinary shares upon Initial public offering ("IPO"),shares		2,156,250
Conversion of preferred shares to Class A ordinary shares	109,695	$ 10		109,685
Conversion of preferred shares to Class A ordinary shares,shares		10,268,077
Net loss for the year	(24,619)				(24,619)
Foreign currency translation	(79)						(79)
Ending balance at Dec. 31, 2017	$ 119,984	$ 26	$ (2,093)	$ 274,294	$ (149,004)	$ 81	$ (3,320)
Ending balance, shares at Dec. 31, 2017	26,059,433	26,059,433	2,123,382

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Cash flows from operating activities
Net loss	$ (24,619)	$ (27,330)	$ (39,714)
Adjustments to reconcile net loss to net cash used in operating activities
Depreciation of property and equipment	1,363	1,512	1,138
Amortization of intangible assets	4,221	4,312	2,043
Loss on disposal of property and equipment	0	0	4
Allowance for doubtful accounts	910	99	1,886
Recovery of doubtful debts previously provided for	(40)	0	(185)
Share of loss from an equity investee	0	0	38
Share-based compensation	5,072	21,244	6,494
Fair value losses/(gains) on derivative liabilities	10,190	(3,995)	19,390
Fair value gain on re-measurement of equity investee	0	0	(1,161)
Deferred tax	(714)	(1,021)	(1,292)
Changes in operating assets and liabilities, net
Accounts receivable	(9,816)	(2,330)	(13,746)
Prepayments and other assets	46	881	(155)
Accrued liabilities and other current liabilities	644	284	9,308
Deferred revenue	5,750	10,763	(3,765)
Rebates receivables	935	1,392	172
Prepaid media costs	(2,491)	(9,617)	8,100
Accounts payable	(5,478)	(2,036)	1,885
Income tax payable	146	1,935	(237)
Net cash used in operating activities	(13,881)	(3,907)	(9,797)
Cash flows from investing activities
Prepayment of property and equipment	0	(122)	0
Purchase of property and equipment	(148)	(884)	(2,628)
Purchase of intangible assets	(17)	(22)	(121)
(Increase)/decrease in short-term investments	0	1,552	(1,552)
Purchase of time deposit	(25,000)	0	0
Decrease/(increase) in restricted cash	5,234	(4,234)	692
Acquisition of business, net of cash received	0	0	(14,486)
Net cash used in investing activities	(19,931)	(3,710)	(18,095)
Cash flows from financing activities
Repurchase of Series B convertible redeemable preferred shares	0	0	(11,581)
Proceeds from exercise of share options	60	171	284
Proceeds from bank borrowings	5,897	8,232	7,589
Repayments of bank borrowings	(8,816)	(3,793)	(1,642)
Repurchase of ordinary shares	0	0	(11,639)
Repayment of amounts due to related parties	0	(46)	(623)
Net proceeds from issuance of ordinary shares upon IPO	28,405	0	0
Net cash (used in)/provided by financing activities	25,546	24,564	(2,612)
Net (decrease)/increase in cash and cash equivalents	(8,266)	16,947	(30,504)
Cash and cash equivalents at the beginning of year	27,280	10,395	41,131
Effect on exchange rate changes on cash and cash equivalents	387	(62)	(232)
Cash and cash equivalents at the end of year	19,401	27,280	10,395
Supplemental disclosure of cash flow information:
Interests paid	(582)	(713)	(103)
Cash (paid)/refunded for income taxes	(1,119)	665	(912)
Non-cash investing and financing activities:
Fair value of replacement awards attributable to pre-acquisition services for acquisition of OptAim Limited	0	0	801
Accretion to redeemable ordinary shares redemption value	3,650	1,556	1,982
IPO costs in form of other payables	1,724	0	0
OptAim Limited [Member]
Non-cash investing and financing activities:
Acquisition of company Limited in form of share issuance	0	0	50,843
Buzzinate Company Limited [Member]
Non-cash investing and financing activities:
Acquisition of company Limited in form of share issuance	0	0	2,027
Series D Preferred Stock [Member]
Cash flows from financing activities
Proceeds from issuance of convertible redeemable preferred shares	0	0	15,000
Series E Preferred Stock [Member]
Cash flows from financing activities
Proceeds from issuance of convertible redeemable preferred shares	0	20,000	0
Series A Preferred Stock [Member]
Non-cash investing and financing activities:
Accretion to preferred shares redemption value	235	110	307
Series B Preferred Stock [Member]
Non-cash investing and financing activities:
Accretion to preferred shares redemption value	$ 1,427	$ 662	$ 2,385

Organization and principal activities

12 Months Ended

Dec. 31, 2017

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Organization and principal activities

1	Organization and principal activities

(a)

Organization and nature of operation

iClick Interactive Asia Group Limited (the “Company”) and its subsidiaries are collectively referred to as the Group. The Company was incorporated under the law of Cayman Islands as a limited company on February 3, 2010. The Group is principally engaged in the provision of online marketing services. The Group’s principal operations and geographic market are in Greater China and have offices in Hong Kong and the People’s Republic of China (“the PRC”). There are also sales teams in Singapore, Taiwan and the United Kingdom.

In November 2014, the Company entered into a sale and purchase agreement (“SPA”) with Buzzinate Company Limited (“Buzzinate”) and its shareholders and acquired 33.3% and 66.7% equity interest in Buzzinate in 2014 and 2015, respectively. As a result, Buzzinate became a wholly owned subsidiary of the Company in 2015. Buzzinate is engaged in the provision of online marketing services and mainly focuses on the PRC market. Refer to note 4(a) to the consolidated financial statements for more details in relation to this transaction.

In July 2015, the Company entered into a SPA with OptAim Limited (“OptAim”) and its shareholders where the Company agreed to subscribe for the entire equity interests in OptAim, with certain operations of OptAim conducted through VIE arrangements. Upon completion of this transaction in 2015, OptAim and its subsidiaries became wholly-owned subsidiaries of the Company. OptAim is engaged in the provision of online marketing services with a focus of mobile device in the PRC market. Refer to note 4(b) to the consolidated financial statements for more details in relation to this transaction.

The accompanying consolidated financial statements include the financial statements of the Company, its subsidiaries and consolidated VIEs and the VIE’s subsidiary (defined in Note 1(b)) as follows:

Name

Relationship

% of direct

or indirect
economic
ownership

Date of

incorporation

Place of

incorporation/

establishment

Principal activities

Digital Marketing Group Limited

Subsidiary

100

October 2006

Hong Kong

Dormant

Tetris Media Limited

Subsidiary

100

July 2007

Hong Kong

Internet marketing

services and solutions

iClick Interactive Asia Limited

Subsidiary

100

December 2008

Hong Kong

Internet marketing

services and solutions

Optimix Media Asia Limited

Subsidiary

100

March 2009

Hong Kong

Investment holding

China Search (Asia) Limited

Subsidiary

100

September 2010

Hong Kong

Internet marketing

services and solutions

Diablo Holdings Corporation

Subsidiary

100

August 2010

British Virgin Islands (“BVI”)

Investment holding

Harmattan Capital Holdings Corporation

Subsidiary

100

August 2010

BVI

Investment holding

iClick Interactive (Singapore) Pte. Ltd.

Subsidiary

100

January 2011

Singapore

Internet marketing

services and solutions

Name

Relationship

% of direct

or indirect
economic
ownership

Date of

incorporation

Place of

incorporation/

establishment

Principal activities

iClick Interactive (Beijing) Advertisement Co., Ltd

Subsidiary

100

January 2011

The PRC

Internet marketing

services and solutions

Search Asia Technology (Shenzhen) Co., Ltd.

Subsidiary

100

January 2011

The PRC

Internet marketing

services and solutions

i-Click Interactive Taiwan Limited Taiwan Branch

Subsidiary’s
branch

100

September 2011

Taiwan

Internet marketing

services and solutions

Performance Media Group Limited

Subsidiary

100

January 2013

Hong Kong

Internet marketing

services and solutions

Tetris Media (Shanghai) Co., Ltd.

Subsidiary

100

July 2013

The PRC

Internet marketing

services and solutions

Buzzinate Company Limited

Subsidiary

100

March 2009

Hong Kong

Technology

development

Buzzinate (Shanghai) Information Technology Co., Ltd.

Subsidiary

100

July 2009

The PRC

Technology

development service

OptAim Limited

Subsidiary

100

July 2014

Cayman Islands

Investment holding

OptAim (HK) Limited

Subsidiary

100

July 2014

Hong Kong

Investment holding

OptAim (Beijing) Information Technology Co., Ltd.

Subsidiary

100

November 2014

The PRC

Internet marketing

services and solutions

Anhui Zhiyunzhong Information Technology Co., Ltd.

Subsidiary

100

November 2017

The PRC

Internet marketing

services and solutions

Beijing OptAim Network Technology Co., Ltd.

VIE

100

September 2012

The PRC

Internet marketing

services and solutions

Zhiyunzhong (Shanghai) Technology Co., Ltd.

VIE’s

subsidiary

100

September 2014

The PRC

Internet marketing

services and solutions

Arda Holdings Limited

VIE

100

May 2010

BVI

To hold treasury shares

(b)

Consolidated VIE and VIE’s subsidiary

When the Company acquired OptAim WFOE in July 2015, OptAim WFOE is considered as a foreign invested enterprise and any foreign ownership in advertising business was subject to certain restrictions under the PRC laws and regulations at that time. To comply with the then-effective PRC laws and regulations, certain of the Group’s operations are conducted through Beijing OptAim Network Technology Co., Ltd. (“Beijing OptAim”) and Zhiyun Zhong (Shanghai) Technology Co., Ltd. (“Shanghai OptAim”) (or “OptAim VIE”). OptAim (Beijing) Information Technology Co., Ltd, (“OptAim WFOE”), a wholly-owned subsidiary of the Company, or a wholly foreign owned enterprise (“WFOE”) of the Company entered into a series of contractual agreements among Beijing OptAim and Beijing OptAim’s legal shareholders.

OptAim VIE

The Company’s relationships with Beijing OptAim and its shareholders are governed by the following contractual arrangements:

•

Cooperative Agreement

Under the cooperative agreement between OptAim WFOE, Beijing OptAim and Shanghai OptAim, OptAim WFOE has the exclusive right to provide to Beijing OptAim and Shanghai OptAim, among others, technical consulting, technical support, business consulting, and appointment and dismissal of employees. OptAim WFOE will collect a fee from Beijing OptAim and Shanghai OptAim to be determined at the sole discretion of OptAim WFOE. The term of this agreement will not expire unless OptAim WFOE provides prior written notice to Beijing OptAim and Shanghai OptAim. There was no service fee paid and payable from Beijing OptAim and Shanghai OptAim to OptAim WFOE for the years ended December 31, 2015, 2016 and 2017 as Beijing OptAim and Shanghai OptAim, in aggregated, have been incurring losses.

•

Purchase Option Agreement

The parties to the purchase option agreement are OptAim WFOE, Beijing OptAim and each of the shareholders of Beijing OptAim. Under the purchase option agreement, each of the shareholder of Beijing OptAim irrevocably granted OptAim WFOE or its designated representative(s) an exclusive option to purchase, to the extent permitted under PRC law, all or part of its equity interests in Beijing OptAim. OptAim WFOE or its designated representative(s) have sole discretion as to when to exercise such options, either in part or in full. Without OptAim WFOE’s prior written consent, Beijing OptAim’s shareholders shall not sell, transfer, mortgage or otherwise dispose their equity interests in Beijing OptAim. The agreement will not expire until all shares of Beijing OptAim are transferred to OptAim WFOE or its designated representative(s).

•

Power of Attorney

Pursuant to the irrevocable power of attorney executed by the shareholders of Beijing OptAim, Beijing OptAim appointed OptAim WFOE as its attorney-in-fact to exercise all shareholders’ rights in Beijing OptAim, including, without limitation, the power to vote on all matters of Beijing OptAim requiring shareholder approval under PRC laws and regulations and the articles of association of Beijing OptAim. The power of attorney will remain in force until OptAim WFOE provides prior written notice to Beijing OptAim.

•

Pledge Agreement

Pursuant to the pledge agreement between OptAim WFOE and the shareholders of Beijing OptAim, the shareholders of Beijing OptAim have pledged all of their equity interests in Beijing OptAim to OptAim WFOE to guarantee the performance by Beijing OptAim under the cooperative agreement, purchase option agreement, and powers of attorney. If Beijing OptAim and/or its shareholders breach their contractual obligations under those agreements, OptAim WFOE, as pledgee, will be entitled to certain rights, including the right to sell the pledged equity interests. Under the pledge agreement, the shareholders of Beijing OptAim are not able to provide any other guarantee by pledging the shares of Beijing OptAim, transfer or sell their pledged shares to other individual, change share capital of Beijing OptAim or transfer or sell the assets out of Beijing OptAim.

The shareholders of Beijing OptAim have completed the registration of the equity pledge with the relevant office of the Administration for Industry and Commerce in accordance with the PRC Property Rights Law on June 21, 2017.

Through the aforementioned contractual agreements, OptAim VIE are considered VIE in accordance with Generally Accepted Accounting Principles in the United States (“US GAAP”) because the Company, through OptAim WFOE, has the ability to:

•

exercise effective control over OptAim VIE whereby having the power to direct OptAim VIE’s activities that most significantly drive the economic results of OptAim VIE;

•

receive substantially all of the economic benefits and residual returns, and absorb substantially all the risks and expected losses from the OptAim VIE as if it was their sole shareholder; and

•

have an exclusive option to purchase all of the equity interests in OptAim VIE.

Management evaluated the relationships among the Company, OptAim WFOE and OptAim VIE, and concluded that OptAim WFOE is the primary beneficiary of the VIEs. As a result, OptAim VIE’s results of operations, assets and liabilities have been included in the Group’s consolidated financial statements.

As of December 31, 2016 and 2017, the total assets of OptAim VIE and its subsidiary were US$27,135 and US$7,867, respectively, mainly comprising cash and cash equivalents, accounts receivable, prepayments and other current assets, property and equipment. As of December 31, 2016 and 2017, the total liabilities of the OptAim VIE and its subsidiary were US$12,310 and US$6,819 respectively, mainly comprising deferred revenue, accrued liabilities and other current liabilities.

In accordance with the aforementioned agreements, the Company has power to direct activities of the OptAim VIE, and can have assets transferred out of OptAim VIE. Therefore the Company considers that there is no asset in OptAim VIE that can be used only to settle obligations of the OptAim VIE, except for registered capital and PRC statutory reserves of the OptAim VIE amounting to US$2,081 and US$2,081, respectively, as of December 31, 2016 and 2017. As the OptAim VIE and its subsidiary were incorporated as limited liability company under the PRC Company Law, the creditors do not have recourse to the general credit of the Company for all the liabilities of the OptAim VIE. Currently there is no contractual arrangement that could require the Company to provide additional financial support to OptAim VIE.

As the Company is conducting its PRC online marketing services business through OptAim VIE, the Company will, if needed, provide such support on a discretion basis in the future, which could expose the Company to a loss.

There is no VIE where the Company has variable interest but is not the primary beneficiary.

The Group believes that the contractual arrangements among its shareholders and OptAim WFOE are in compliance with PRC law and are legally enforceable. However, uncertainties in the PRC legal system could limit the Company’s ability to enforce these contractual arrangements and if the shareholders of OptAim VIE were to reduce their interest in the Company, their interests may diverge from that of the Company and that may potentially increase the risk that they would seek to act contrary to the contractual terms.

The Company’s ability to control the OptAim VIE also depends on the power of attorney and the effect of the share pledge under the Pledge Agreement and OptAim WFOE has to vote on all matters requiring shareholder approval in OptAim VIE. As noted above, the Company believes this power of attorney is legally enforceable but may not be as effective as direct equity ownership.

(c)

Initial Public Offering

The Company completed its initial public offering (“IPO”) on December 22, 2017 on the NASDAQ Global Market and the underwriters subsequently exercised their over-allotment option on December 27, 2017. The Company issued and sold a total of 4,312,500 American Depositary Shares (“ADSs”) pursuant to these transactions. Each ADS represents 0.5 common share. The net proceeds received by the Company, after deducting commissions and offering expenses, amounted to US$28,405. Upon the completion of the IPO, all of the Company’s outstanding preferred shares were converted into common shares immediately as of the same date.

Principal accounting policies

12 Months Ended

Dec. 31, 2017

Accounting Policies [Abstract]

Principal accounting policies

2	Principal accounting policies

(a)

Basis of presentation

The consolidated financial statements have been prepared in accordance with the US GAAP. Significant accounting policies followed by the Company in the preparation of the accompanying consolidated financial statements are summarized below.

(b)

Use of estimates

The preparation of the Group’s consolidated financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ materially from such estimates.

The Company believes that revenue recognition, consolidation of VIE, determination of share-based compensation, measurement of redemption value of redeemable preferred shares and impairment assessment of long-lived assets and intangible assets that reflect more significant judgments and estimates used in the preparation of its consolidated financial statements.

Management bases the estimates on historical experience and on various other assumptions as discussed elsewhere to the consolidated financial statements that are believed to be reasonable, the results of which form the basis for making judgments about the carrying values of assets and liabilities. Actual results could materially differ from these estimates.

(c)

Consolidation

The Group’s consolidated financial statements include the financial statements of the Company, its subsidiaries, its VIEs and a VIE’s subsidiary for which the Company or its subsidiary is the primary beneficiary. All transactions and balances among the Company, its subsidiaries, its VIEs have been eliminated upon consolidation.

A subsidiary is an entity in which the Company, directly or indirectly, controls more than one half of the voting powers; or has the power to appoint or remove the majority of the members of the board of directors; or to cast a majority of votes at the meeting of directors; or has the power to govern the financial and operating policies of the investee under a statute or agreement among the shareholders or equity holders.

A VIE is an entity in which the Company, or its subsidiary, through contractual agreements, bears the risks of, and enjoys the rewards normally associated with ownership of the entity. In determining whether the Company or its subsidiaries are the primary beneficiary, the Company considered whether it has the power to direct activities that are significant to the VIE’s economic performance, and also the Group’s obligation to absorb losses of the VIE that could potentially be significant to the VIE or the right to receive benefits from the VIE that could potentially be significant to the VIE. OptAim WFOE and ultimately the Company hold all the variable interests of the VIE and its subsidiary, and has been determined to be the primary beneficiary of the VIE.

(d)

Foreign currency translation

The reporting currency of the Company is the United States dollars (“US$”). The Company is a holding company engaged in capital raising and financing activities denominated in US$. As such, the Company’s functional currency has been determined to be the US$. The functional currency of the Company’s subsidiaries is the local currency of the country in which they are domiciled.

Monetary assets and liabilities denominated in currencies other than the functional currency are translated into the functional currency at the rates of exchange existing at the balance sheet date. Transactions in currencies other than the functional currency during the year are converted into the functional currency at the applicable rates of exchange prevailing at the transaction date. Transaction gains and losses are recognized in “Other losses, net”. Assets and liabilities denominated in foreign currencies are translated at the exchange rates at the balance sheet date. Equity accounts are translated at historical exchange rates and revenues, expenses, gains and losses are translated using the average rate for the year. Translation adjustments are reported as cumulative translation adjustments and are shown as a separate component of other comprehensive loss in the consolidated statements of changes in shareholders’ deficit/equity and comprehensive loss.

(e)

Fair value of financial instruments

Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs. Fair value measurements are based on a fair value hierarchy, based on three levels of inputs, of which the first two are considered observable and the last unobservable, that may be used to measure fair value which are the following:

Level 1 — Quoted prices (unadjusted) in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date.

Level 2 — Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly, such as quoted market prices for similar assets and liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the asset or liability.

Level 3 — Unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of the assets or liabilities.

Observable inputs are based on market data obtained from independent sources. At December 31, 2016 and 2017 the Company’s derivative liabilities are measured using unobservable inputs that require a high level of judgment to determine fair value, and thus classified as Level 3 (Note 3(c)).

The carrying amounts of cash and cash equivalents, restricted cash, accounts receivable, prepayment and other current assets, accounts payable, accrued liabilities and other current liabilities, deferred revenue and amounts due to a related party, approximate to their fair value due to the short-term nature of these instruments. Based on the borrowing rates currently available to the Group for debt with similar terms, the carrying value of the short-term loan approximates to its fair value (using Level 2 inputs).

Certain assets, including intangible assets, are also subject to measurement at fair value on a non-recurring basis if they are deemed to be impaired as a result of an impairment review. For the years ended December 31, 2015, 2016 and 2017, no impairments were recorded on those assets required to be measured at fair value on a non-recurring basis.

(f)

Cash and cash equivalents

Cash and cash equivalents include cash on hand, cash in bank and time deposits placed with banks or other financial institutions, which have original maturities of three months or less and are readily convertible to known amounts of cash.

(g)

Time deposit

Time deposit represents demand deposit placed with a bank with an original maturity of more than three months but less than one year. Interest income is recognized using the effective interest method in the consolidated statements of comprehensive loss during the periods. Time deposit is valued based on the prevailing interest rates in the market.

(h)

Restricted Cash

Restricted cash represented bank deposits in accounts that are restricted as to withdrawal or usage. For restriction which is expected to be released within one year of the balance sheet date, the respective restricted cash balance is classified as current. As of December 31, 2016, the Group’s restricted cash represents balance held in restricted bank accounts as required by certain loan agreement. As of December 31, 2017, the Group did not have any restricted cash.

(i)

Accounts receivable, net

Accounts receivable are presented net of allowance for doubtful accounts. The Group uses specific identification in providing for bad debts when facts and circumstances indicate that collection is doubtful and based on factors listed in the following paragraph. If the financial conditions of its customers were to deteriorate, resulting in an impairment of their ability to make payments, additional allowance may be required.

The Company maintains an allowance for doubtful accounts which reflects its best estimate of amounts that potentially will not be collected. The Company determines the allowance for doubtful accounts on an individual basis taking into consideration various factors including but not limited to historical collection experience and credit-worthiness of the customers as well as the age of the individual receivables balance. Additionally, the Company makes specific bad debt provisions based on any specific knowledge the Company has acquired that might indicate that an account is uncollectible. The facts and circumstances of each account may require the Company to use substantial judgment in assessing its collectability.

(j)

Rebates receivable

Rebates receivable represent sales rebates that have already been earned but not received from third party publishers. The Company earns its rebates from purchasing advertising spaces from these website publishers.

(k)

Equity method investment

The Group holds investments in privately held companies. The Group accounts for these investments over which it has significant influence but does not own a majority equity interest or otherwise control using the equity method of accounting. The Group assesses its equity method investments for other-than-temporary impairment by considering factors including, but not limited to, current economic and market conditions, operating performance of the companies, including current earnings trends and undiscounted cash flows, and other company-specific information. The fair value determination, particularly for investments in privately-held companies, requires significant judgment to determine appropriate estimates and assumptions. Changes in these estimates and assumptions could affect the calculation of the fair value of the investments and determination of whether any identified impairment is other-than-temporary.

As noted in Note 1 to the consolidated financial statements, the Company accelerated the purchase of up to 57.1% equity interests in Buzzinate by exercising the option in February 2015 and at the same time purchased the remaining 42.9% equity interest. Prior to the acquisition, the equity interest held in Buzzinate was accounted for using the equity method. When Buzzinate became a wholly-owned subsidiary of the Company, and accordingly the previously held interest was remeasured at fair value with the revaluation gain was recorded in “other gains/(losses), net”. Furthermore, as of December 31, 2016 and 2017, there was no equity method investment.

(l)

Property and equipment, net

Property and equipment are stated at historical cost less accumulated depreciation and impairment loss, if any. Depreciation is calculated using the straight-line method over their estimated useful lives. The estimated useful lives are as follows:


Leasehold improvements		Over the shorter of lease term or 2 - 5 years
Furniture and fixtures		2 - 5 years
Office equipment		3 - 5 years

Expenditures for maintenance and repairs are expensed as incurred. The gain or loss on the disposal of property and equipment is the difference between the net sales proceeds and the carrying amount of the relevant assets and is recognized in the consolidated statements of comprehensive loss.

(m)

Business combinations

The Group accounts for acquisitions of entities that include inputs and processes and have the ability to create outputs as business combinations. The Group allocates the purchase price of the acquisition to the tangible assets, liabilities, and identifiable intangible assets acquired based on their estimated fair values. The excess of the purchase price over those fair values is recorded as goodwill. Acquisition related costs are expensed as incurred.

(n)

Intangible assets, net

Intangible assets mainly consist of computer software licenses purchased from external parties and computer software and systems acquired through the acquisition of OptAim and Buzzinate, respectively. Identifiable intangible assets are carried at acquisition cost less accumulated amortization and impairment loss, if any. Finite lived intangible assets are tested for impairment if impairment indicators arise. Amortization of finite lived intangible assets is computed using the straight-line method over the following estimated useful lives, which are as follows:

Computer software and systems 2 - 5 years

(o)

Impairment of long-lived assets and intangible assets

For other long-lived assets including property and equipment and amortizable intangible assets, the Group evaluates for impairment whenever events or changes (triggering events) indicate that the carrying amount of an asset may no longer be recoverable. The Group assesses the recoverability of the long-lived assets by comparing the carrying value of the long-lived assets to the estimated undiscounted future cash flows expected to receive from use of the assets and their eventual disposition. Such assets are considered to be impaired if the sum of the expected undiscounted cash flows is less than the carrying amount of the assets. The impairment to be recognized is measured by the amount by which the carrying amount of the assets exceeds the fair value of the assets.

(p)

Goodwill

Goodwill represents the excess of the purchase price over the amounts assigned to the fair value of the assets acquired and the liabilities assumed of an acquired business.

(q)

Impairment of goodwill

Impairment of goodwill assessment is performed on at least an annual basis on December 31 or whenever events or changes in circumstances indicate that the carrying value of the asset may not be recoverable. According to ASC 350-20-35, an entity may assess qualitative factors to determine whether it is more likely than not (that is, a likelihood of more than 50 percent) that the fair value of a reporting unit is less than its carrying amount, including goodwill. The Group, however, selects proceed directly to perform a two-step goodwill impairment test. The first step compares the fair value of a reporting unit to its carrying amount, including goodwill. If the fair value of a reporting unit exceeds its carrying amount, goodwill is not considered impaired and the second step will not be required. If the carrying amount of a reporting unit exceeds its fair value, the second step compares the implied fair value of the affected reporting unit’s goodwill to the carrying value of that goodwill. The implied fair value of goodwill is determined in a manner similar to accounting for a business combination with the allocation of the assessed fair value determined in the first step to the assets and liabilities of the reporting unit. The excess of the fair value of the reporting unit over the amounts assigned to the assets and liabilities is the implied fair value of goodwill. This allocation process is only performed for purposes of evaluating goodwill impairment and does not result in adjusting the value of any assets or liabilities. An impairment loss is recognized for any excess in the carrying value of goodwill over the implied fair value of goodwill. The judgment in estimating the fair value of a reporting unit includes estimating future cash flows, determining appropriate discount rates and making other assumptions. Changes in these estimates and assumptions could materially affect the determination of the fair value of a reporting unit. No goodwill impairment losses were recognized for the years ended December 31, 2015, 2016 and 2017.

(r)

Deferred revenue

The Group receives prepayments for services in advance of service performance from certain customers. The amounts received in advance are recorded as deferred revenue and recognized as revenue in the period which the corresponding services are performed.

(s)

Derivative financial instruments

ASC 815, “Accounting for Derivative Instruments and Hedging Activities” (“ASC 815”) requires every derivative financial instrument (including certain derivative financial instruments embedded in other contracts) to be recorded on the balance sheet at fair value as either an asset or a liability. ASC 815 also requires that changes in the fair value of recorded derivatives be recognized currently in earnings unless specific hedge accounting criteria are met.

(t)

Revenue recognition and cost of revenues

The Group’s services are the provisions of online marketing services. The Group utilizes a combination of pricing models and revenue is recognized when the related services are delivered based on the specific terms of the contract, which are commonly based on (i) agreed incentive to be earned for being a sales agent of a publisher, (ii) cost-plus or (iii) specified actions (i.e. cost per impression (“CPM”), cost per click (“CPC”), cost per action (“CPA”), cost per sale (“CPS”), cost per lead (“CPL”) or return on investment (“ROI”)) and related campaign budgets, depending on the customers’ preferences and their campaigns launched.

The Group recognizes revenue when four basic criteria are met: (1) persuasive evidence of an arrangement with the customer exists reflecting the terms and conditions under which the services will be provided; (2) services have been provided or delivery has occurred; (3) the fee is fixed or determinable; and (4) collection is reasonably assured. Collectability is assessed based on a number of factors, including the creditworthiness of a customer, the size and nature of a customer’s business and transaction history. Amounts collected in excess of revenue recognized are included as deferred revenue.

Sales agent

In the arrangement with a particular publisher, the Group acts as a sales agent for this publisher by having marketing clients market with this publisher. In return, the Group earns incentives from this publisher based on contractually stipulated amounts once certain spending thresholds are achieved. The Group considers this particular publisher as our customer and record such incentives as net revenues. Incentives from this publisher are calculated on both a quarterly and an annual basis in accordance with the terms as set out in the arrangement.

Under the sales agent arrangement, the Group grant rebates to clients under this arrangement. The majority of the clients under our sales agent arrangement are not our customers under either the cost-plus arrangement or specified action arrangement. The Group record rebates granted to clients under the sales agent arrangement as cost of revenues as (i) the Group consider these rebates are for an identifiable benefit that is separable from the clients’ purchase of our services and (ii) the Group is able to reasonably estimate the fair value of the benefit received from granting these rebates.

Cost-plus

For cost-plus advertisement campaigns, sales are valued at the fair value of the amount received. Discounts granted to clients under cost-plus marketing campaigns, along with free or extended marketing campaigns, are recorded as a deduction from revenue. In the normal course of business, the Group acts as an intermediary in executing transactions with third parties, specifically, the Group is not the principal in executing these transactions as the Group is acting on behalf of the website publishers. The determination of whether revenue should be reported on a gross or net basis is based on an assessment of whether the Group is acting as the principal or an agent in the transactions. In determining whether the Group acts as the principal or an agent, the Group follows the accounting guidance for principal-agent considerations. The determination of whether the Group acts as a principal or an agent in a transaction involves judgment and is based on an evaluation of the terms of each arrangement. While none of the factors individually are considered presumptive or determinative, because the Group is facilitating the customers and the publishers to purchase and to sell advertising inventory and the pricing is generally restricted by the costs incurred through purchasing the advertising inventory, the Group concludes that it is not the principal in these arrangements and therefore report revenue earned and costs incurred related to these transaction on a net basis.

Specified actions

The Group also generates revenue from performing specified actions (i.e. a CPM, CPC, CPA, CPS, CPL or ROI basis). Revenue is recognized on a CPM or CPC basis as impressions or clicks are delivered while revenue on a CPA, CPS, CPL or ROI basis is recognized once agreed actions are performed. While none of the factors individually are considered presumptive or determinative, because the Group is the primary obligor and are responsible for (1) identifying and contracting with third-party customers; (2) identifying website publishers to provide website spaces where the Group views the website publishers as suppliers; (3) establishing the selling prices of each of the CPM, CPC, CPA, CPS, CPL or ROI pricing model; (4) performing all billing and collection activities, including retaining credit risk; and (5) bearing sole responsibility for fulfillment of the marketing, the Group acts as the principal of these arrangements and therefore reports revenue earned and costs incurred related to these transactions on a gross basis.

Cost of revenues consists of the costs to purchase space for the online marketing operations, amortization expenses related to the Group’s computer software and systems, salaries and benefits of relevant operations and support personnel and depreciation of relevant property and equipment depreciation. The Group becomes obligated to make payments related to website publishers in the period the marketing impressions and click-through occur. Such expenses are classified as cost of revenues in the consolidated statements of operations as incurred. Cost of revenues also includes rebates received from website publishers which are recorded as a deduction against the cost of revenues when the Group is acting as a principal in a transaction. Following recent reforms of PRC tax laws, business tax is gradually being replaced by VAT, which is recorded as a reduction of revenue. The Group’s PRC subsidiaries, OptAim VIE and its subsidiary are subjected to VAT at a rate of 6%.

(u)

Rebates

Throughout the various services delivered to clients under the cost-plus and specified action arrangements, the Group earns rebates from publishers and grant rebates to clients. The rebates that the Group grants to clients under cost-plus/specified actions arrangement are recorded as deduction from revenue and are recorded based on the amount the customers would ultimately need to spend to earn the corresponding level of rebates. The Group is also able to reasonably estimate the spending the customers can ultimately achieve based on the historical spending patterns of the customers with similar arrangements. The rebates that the Group receives from publishers under the cost-plus and specified action arrangements are recorded as reduction of cost of revenue under the specified actions arrangement while under the cost-plus arrangement, they are recorded as revenue. These rebates are recognized when a particular milestone is achieved (i.e. applying the relevant rebates based on the level of spending threshold actually achieved) and spending has actually occurred. Furthermore, no rebates has been received from the publisher under the sales agent arrangement.

(v)

Prepaid media costs

Prepaid media costs represent prepayments for online space paid by the Group to third party publishers of websites. Upon utilization, media costs are recognized in cost of revenues when the Group is determined as acting as the principal. However, when the Group is determined as acting as the agent, those costs are recognized as deduction to revenue by the Group. These prepayments are classified as current considering the corresponding online spaces are expected to be purchased and utilized within twelve months from the date of payments.

(w)

Research and development expenses

Research and development expenses consist primarily of (i) salary and welfare for research and development personnel, (ii) rental expenses and (iii) depreciation of office premise and servers utilized by research and development personnel. Costs incurred during the research stage are expensed as incurred. Costs incurred in the development stage, prior to the establishment of technological feasibility, which is when a working model is available, are expensed when incurred.

The Company accounts for internal use software development costs in accordance with guidance on intangible assets and internal use software. This requires capitalization of qualifying costs incurred during the software’s application development stage and to expense costs as they are incurred during the preliminary project and post implementation/operation stages. For the years ended December 31, 2016 and 2017, the Company has not capitalized any costs related to internal use software. The research and development expenses amounted to US$8,106, US$8,584 and US$5,778 during the years ended December 31, 2015, 2016 and 2017, respectively.

(x)

Sales and marketing expenses

Sales and marketing expenses consist primarily of (i) advertising and marketing expenses, and (ii) salary and welfare for sales and marketing personnel. Advertising expenses are recorded as sales and marketing expenses when incurred, and totaled US$1,764, US$1,246 and US$1,727 for the years ended December 31, 2015, 2016 and 2017, respectively.

(y)

General and administrative expenses

General and administrative expenses consist primarily of (i) salary and welfare for general and administrative personnel, (ii) allowance for doubtful receivables, and (iii) professional service fees. The general and administrative expenses amounted to US$12,745, US$26,767 and US$12,983 during the years ended December 31, 2015, 2016 and 2017, respectively.

(z)

Operating leases

Leases where substantially all the rewards and risks of ownership of assets remain with the lessor are accounted for as operating leases. Payments made under operating leases are charged to the consolidated statements of operations on a straight-line basis over the lease periods. The Group had no capital leases for the years ended December 31, 2015, 2016 and 2017.

(aa)

Employee social security and welfare benefits

Employees of the Group in the PRC are entitled to staff welfare benefits including pension, work-related injury benefits, maternity insurance, medical insurance, unemployment benefit and housing fund plans through a PRC government-mandated multi-employer defined contribution plan. The Group is required to contribute to the plan based on certain percentages of the employees’ salaries, up to a maximum amount specified by the local government.

The PRC government is responsible for the medical benefits and the pension liability to be paid to these employees and the Group’s obligations are limited to the amounts contributed and no legal obligation beyond the contributions made.

The Group also makes payments to other defined contribution plans for employees employed by subsidiaries outside the PRC.

(ab)

Income taxes

Current income taxes are provided on the basis of net income for financial reporting purposes, adjusted for income and expense items which are not assessable or deductible for income tax purposes, in accordance with the regulations of the relevant tax jurisdictions. Deferred income taxes are accounted for using an asset and liability method. Under this method, deferred income taxes are recognized for the tax consequences of temporary differences by applying enacted statutory rates applicable to future years to differences between the financial statement carrying amounts and the tax bases of existing assets and liabilities. The tax base of an asset or liability is the amount attributed to that asset or liability for tax purpose. The effect on deferred taxes of a change in tax rates is recognized in the consolidated statements of comprehensive loss in the period of change. A valuation allowance is provided to reduce the amount of deferred tax assets if it is considered more likely than not that some portion of, or all of the deferred tax assets will not be realized.

Uncertain tax positions

The guidance on accounting for uncertainties in income taxes prescribes a more likely than not threshold for financial statements recognition and measurement of a tax position taken or expected to be taken in a tax return. Guidance was also provided on derecognition of income tax assets and liabilities, classification of current and deferred income tax assets and liabilities, accounting for interest and penalties associated with tax positions, accounting for income taxes in interim periods, and income tax disclosures. Significant judgment is required in evaluating the Group’s uncertain tax positions and determining its provision for income taxes. The Group recognizes interests and penalties, if any, under accrued expenses and other current liabilities on its consolidated balance sheets and under other expenses in its statements of operations and comprehensive loss. The Group did not recognize any significant interest and penalties associated with uncertain tax positions for the years ended December 31, 2015, 2016 and 2017. As of December 31, 2016 and 2017, the Group did not have any significant unrecognized uncertain tax positions.

(ac)

Share-based compensation

The Group accounts for share-based compensation expenses in accordance with ASC subtopic 718-10 (“ASC 718-10”), Compensation-Stock Compensation, for share-based awards to employees. Under the fair value recognition provisions of ASC 718-10, share-based compensation costs are measured at the grant date. The share-based compensation expenses have been categorized as either general and administrative expenses, selling and marketing expenses or research and development expenses, depending on the job functions of the grantees.

Option granted to employees

For the options granted to employees, the compensation expense is recognized using the graded-vesting attribution approach over the requisite service period, which is generally the vesting period. Forfeitures are estimated at the time of grant, with such estimate updated periodically and with actual forfeitures recognized currently to the extent they differ from the estimate. In determining the fair value of the Company’s share options, the binomial option pricing model has been applied.

Option modification

According to ASC 718, a change in any of the terms or conditions of equity based awards shall be accounted for as a modification of the award. Therefore, the Company calculates incremental compensation cost of a modification as the excess of the fair value of the modified option over the fair value of the original option immediately before its terms are modified. For vested options, the Company would recognize incremental compensation costs on the date of modification and for unvested options, the Company would recognize, prospectively and over the remaining requisite service period, the sum of the incremental compensation costs and the remaining unrecognized compensation costs for the original award.

Option granted to non-employees

For share-based awards granted to non-employees, the Group accounts for the related share-based compensation expenses in accordance with ASC subtopic, 505-50 (“ASC 505-50”), Equity-Based Payments to Non-Employees. Under the provision of ASC 505-50, options of the Company issued to non-employees are measured based on fair value of the options which are determined by using the binomial option pricing model. These options are measured as of the earlier of the date at which either: (1) commitment for performance by the non-employeehas been reached; or (2) the non-employee’s performance is complete.

(ad)

Statutory reserves

The Group’s subsidiaries, consolidated VIE and its subsidiaries incorporated in the PRC are required on an annual basis to make appropriations of retained earnings set at certain percentage of after-tax profit determined in accordance with PRC accounting standards and regulations (“PRC GAAP”).

Appropriation to the statutory general reserve should be at least 10% of the after tax net income determined in accordance with the legal requirements in the PRC until the reserve is equal to 50% of the entities’ registered capital. The Group is not required to make appropriation to other reserve funds and the Group does not have any intentions to make appropriations to any other reserve funds.

The general reserve fund can only be used for specific purposes, such as setting off the accumulated losses, enterprise expansion or increasing the registered capital. Appropriations to the general reserve funds are classified in the consolidated balance sheets as statutory reserves.

There are no legal requirements in the PRC to fund these reserves by transfer of cash to restricted accounts, and the Group was not done so.

Relevant laws and regulations permit payments of dividends by the PRC subsidiaries and affiliated companies only out of their retained earnings, if any, as determined in accordance with respective accounting standards and regulations. Accordingly, the above balances are not allowed to be transferred to the Company in terms of cash dividends, loans or advances.

(ae)

Related parties

Parties are considered to be related if one party has the ability, directly or indirectly, to control the other party or exercise significant influence over the other party in making financial and operating decisions. Parties are also considered to be related if they are subject to common control or significant influence, such as a family member or relative, shareholder, or a related corporation.

(af)

Dividends

Dividends are recognized when declared. No dividends were declared for the years ended December 31, 2015, 2016 and 2017, respectively. The Group does not have any present plan to pay any dividends on ordinary shares in the foreseeable future. The Group currently intends to retain the available funds and any future earnings to operate and expand its business.

(ag)

Loss per share

Basic loss per share is computed by dividing net loss attributable to holders of ordinary shares by the weighted average number of ordinary shares outstanding during the year using the two class method. Using the two class method, net loss is allocated between ordinary shares and other participating securities (i.e. preferred shares) based on their participating rights.

Diluted loss per share is calculated by dividing net loss attributable to ordinary shareholders as adjusted for the effect of dilutive ordinary equivalent shares, if any, by the weighted average number of ordinary and dilutive ordinary equivalents shares outstanding during the year. Dilutive equivalent shares are excluded from the computation of diluted loss per share if their effects would be anti-dilutive. Ordinary share equivalents consist of the ordinary shares issuable in connection with the Group’s convertible non-redeemable and redeemable preferred shares using the if-converted method, and ordinary shares issuable upon the conversion of the stock options, using the treasury stock method.

(ah)

Comprehensive loss

Comprehensive loss is defined as the change in shareholders’ deficit of the Company during a period arising from transactions and other events and circumstances excluding transactions resulting from investments by shareholders and distributions to shareholders.

Comprehensive loss is reported in the consolidated statements of comprehensive loss. Accumulated other comprehensive losses of the Group include the foreign currency translation adjustments.

(ai)

Segment reporting

Operating segments are defined as components of an enterprise engaging in businesses activities for which separate financial information is available that is regularly evaluated by the Group’s chief operating decision makers in deciding how to allocate resources and assess performance. The Group’s chief operating decision maker has been identified as the Chief Executive Officer, who reviews consolidated results including revenue, gross profit and operating profit at a consolidated level only. The Group does not distinguish between markets for the purpose of making decisions about resources allocation and performance assessment. Hence, the Group has only one operating segment and one reportable segment.

(aj)

Recently issued accounting pronouncements

In May 2014, the Financial Accounting Standards Board (“FASB”), issued ASU 2014-09—Revenue from Contracts with Customers (Topic 606) (“ASU 2014-09”). ASU 2014-09 amends the guidance for revenue recognition to replace numerous industry-specific requirements and converges areas under the “Revenue from Contracts with Customers” topic with those of the International Financial Reporting Standards. The guidance implements a five-step process for customer contract revenue recognition that focuses on transfer of control, as opposed to transfer of risk and rewards. The amendment also requires enhanced disclosures regarding the nature, amount, timing and uncertainty of revenues and cash flows from contracts with customers. Other major provisions include the capitalization and amortization of certain contract costs, ensuring the time value of money is considered in the transaction price, and allowing estimates of variable consideration to be recognized before contingencies are resolved in certain circumstances. Entities can transition to the standard either retrospectively or as a cumulative-effect adjustment as of the date of adoption (“modified retrospective”). The guidance is effective for reporting periods beginning after December 15, 2017. Since its issuance, the FASB has amended several aspects of the new guidance including provisions that clarify the implementation guidance on principal versus agent considerations in the new revenue recognition standard. The amendments clarify how an entity should identify the unit of accounting (i.e., the specified good or service) for the principal versus agent evaluation and how it should apply the control principle to certain types of arrangements.

Management has completed an assessment to determine the impact on the Company’s consolidated financial statements by analyzing the Company’s primary revenue generating transaction types, and concluded that there was no impact on the Company’s results of operations as a result of adopting this standard, except for the reclassification of rebates granted to clients under the sales agent arrangement from cost of revenues to net against revenues. The amounts of such rebates included in cost of revenues for the years ended December 31, 2016 and 2017 were US$2,568 and US$2,236, respectively. Meanwhile, there will also be additional disclosure requirements upon the adoption of this standard. The Company will adopt this new standard on a modified retrospective basis as of January 1, 2018.

In November 2015, the FASB issued ASU No. 2015-17, “Income Taxes (Topic 740): Balance Sheet Classification of Deferred Taxes”. The new guidance requires entities to present all deferred tax assets and liabilities, along with any related valuation allowance, as non-currenton the balance sheet. The guidance is effective for public business entities for interim and annual periods beginning after December 15, 2016 (early adoption is permitted). The Company adopted ASU 2015-17 on January 1, 2017, and has applied this guidance retrospectively to all periods presented. Following the adoption of this guidance in 2017, US$1,067 of current deferred tax liabilities as of December 31, 2016 has been reclassified to non-current liabilities.

In February 2016, the FASB issued ASU 2016-02: Leases (Topic 842). The core principle of Topic 842 is that a lessee should recognize the assets and liabilities that arise from leases. All leases create an asset and a liability for the lessee in accordance with FASB Concepts Statement No. 6, Elements of Financial Statements, and, therefore, recognition of those lease assets and lease liabilities represents an improvement over previous GAAP, which did not require lease assets and lease liabilities to be recognized for most leases. ASU 2016-02 is effective for fiscal years and interim periods within those years beginning after December 15, 2018. Early adoption is permitted. The Company is in the process of evaluating the impact of the standard on its consolidated financial statements.

On August 6, 2016, the FASB issued ASU 2016-15, “Statement of Cash Flows — Classification of Certain Cash Receipts and Payments.” The ASU provides guidance on the classification of certain cash receipts and payments including debt prepayment or debt issuance costs and cash payments for contingent considerations. The ASU also provides clarification on the application of the predominance principle outlined in ASC 230. The effective date for public entities will be annual periods beginning after December 15, 2017, including interim periods within those fiscal years. Early adoption is permitted. The Company will adopt this new standard on a retrospective basis as of January 1, 2018. The Company has assessed each of the eight specific presentation issues and the adoption of this ASU will not have a material impact on the Company’s consolidated financial statements.

In October 2016, the FASB issued ASU 2016-16, Income Taxes: Intra-Entity Transfers of Assets Other Than Inventory (Topic 740). This standard will require entities to recognize the income tax consequences of intra-entity transfers of assets other than inventory at the time of transfer. This standard requires a modified retrospective approach to adoption. ASU 2016-16 is effective for fiscal years and interim periods within those years beginning after December 31, 2018. The Company does not expect ASU 2016-16 to have a material impact to the Company’s consolidated financial statements.

In January 2017, the FASB issued ASU 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business, which revises the definition of a business. To be considered a business, an acquisition would have to include an input and a substantive process that together significantly contribute to the ability to create outputs. To be a business without outputs, there will now need to be an organized workforce. ASU 2017-01 is effective for fiscal years and interim periods within those years beginning after December 15, 2017. The Company currently does not expect ASU 2017-01 to have a material impact to the Company’s consolidated financial statements, but will apply the guidance upon adoption to business acquisitions, disposals and segment changes, if any.

In November 2016, the FASB issued ASU 2016-18, “Statement of Cash Flows (Topic 230): Restricted Cash”, which requires entities to include restricted cash and restricted cash equivalents in the cash and cash equivalent balances in the statement of cash flows. The ASU is effective for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years, with early adoption permitted. Retrospective transition method is required. The Company currently presents changes in restricted cash and cash equivalents depending on the nature of the cash flow within the consolidated statement of cash flows. The new guidance will not impact financial results, but will result in a change in the presentation of restricted cash and cash equivalents within the consolidated statement of cash flows. The Company currently plans to adopt this guidance from January 1, 2018.

In January 2017, the FASB issued ASU 2017-04, “Intangibles — Goodwill and Other (Topic 350): simplifying the test for goodwill impairment”, the guidance removes Step 2 of the goodwill impairment test, which requires a hypothetical purchase price allocation. Goodwill impairment will now be the amount by which a reporting unit’s carrying value exceeds its fair value, not the difference between the fair value and carrying amount of goodwill which was the step 2 test before. The ASU should be adopted on a prospective basis for the annual or any interim goodwill impairment tests beginning after December 15, 2019. Early adoption is permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. The Company is currently evaluating the impact of adopting this standard on its consolidated financial statements.

In January 2016, the FASB issued ASU 2016-01—Financial Instruments—Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities (“ASU 2016-01”). ASU 2016-01 changes certain recognition, measurement, presentation, and disclosure requirements for financial instruments. The new guidance requires all equity investments, except those accounted for under the equity method of accounting or resulting in consolidation, to be measured at fair value with changes in fair value recognized in net income. The guidance also simplifies the impairment assessment for equity investments without readily determinable fair values, amends the presentation requirements for changes in the fair value of financial liabilities, requires presentation of financial instruments by measurement category and form of financial asset, and eliminates the requirement to disclose the methods and significant assumptions used in estimating the fair value of financial instruments. The new guidance is effective for interim and annual periods beginning after December 15, 2017, and early adoption is not permitted except for the amended presentation requirements for changes in the fair value of financial liabilities. The adoption of this new standard is not expected to have a material impact on the Company’s results of operations, financial position or cash flows.

In June 2016, the FASB issued ASU 2016-13—Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments (“ASU 2016-13”), which changes the accounting for recognizing impairments of financial assets. Under ASU 2016-13,credit losses for certain types of financial instruments will be estimated based on expected losses. The new guidance also modifies the impairment models for available-for-sale debt securities and for purchased financial assets with credit deterioration since their origination. The new guidance will be effective for the Company starting in the first quarter of fiscal 2021. Early adoption is permitted starting in the first quarter of fiscal 2020. The Company is currently assessing the impact this guidance will have on its consolidated financial statements.

In May 2017, the FASB issued ASU 2017-09—Compensation—Stock Compensation (Topic 718): Scope of Modification Accounting (“ASU 2017-09”) to provide guidance about which changes to the terms and conditions of a share-based payment award require an entity to apply modification accounting. The guidance notes that an entity should account for the effects of a modification unless the fair value of the modified award is the same as the fair value of the original award immediately before the original award was modified and it did not change any of the inputs to the valuation technique used to value the award, the vesting conditions did not change, and the classification of the award as either equity or liability did not change. The guidance is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2017, and will be applied prospectively to any transactions occurring within the period of adoption. Early adoption is permitted, including for interim or annual periods in which the financial statements have not been issued or made available for issuance. The adoption of this update is not expected to have material impact on the Company’s results of operations, financial position or cash flows.

Certain risks and concentration

12 Months Ended

Dec. 31, 2017

Risks and Uncertainties [Abstract]

Certain risks and concentration

3	Certain risks and concentration

(a)

PRC regulations

The Chinese market in which the Company operates poses certain macro-economic and regulatory risks and uncertainties. These uncertainties extend to the ability of the Company to engage in online marketing businesses through contractual arrangements in the PRC since the internet and marketing services industries remain regulated. The Company conducts certain of its operations in China through its variable interest entity, which it consolidates as a result of a series contractual arrangements enacted. Though the PRC has, since 1978, implemented a wide range of market-oriented economic reforms, continued reforms and progress towards a full market-oriented economy are uncertain. In addition, the telecommunication, information, and media industries remain highly regulated. Restrictions are currently in place and are unclear with respect to which segments of these industries foreign owned entities, like the Company, may operate. The Chinese government may issue from time to time new laws or new interpretations on existing laws to regulate areas such as telecommunication, information and media. Regulatory risk also encompasses the interpretation by the tax authorities of current tax laws, and the Group’s legal structure and scope of operations in the PRC, which could be subject to further restrictions resulting in limitations on the Company’s ability to conduct business in the PRC. There are uncertainties regarding the interpretation and application of current and future PRC laws, rules and regulations, including but not limited to the laws, rules and regulations governing the validity and enforcement of the contractual arrangements with consolidated VIE. The Company believes that the structure for operating its business in China (including the ownership structure and the contractual arrangements with the consolidated VIE is in compliance with all applicable existing PRC laws, rules and regulations, and does not violate, breach, contravene or otherwise conflict with any applicable PRC laws, rules or regulations. However, the Company cannot assure that the PRC regulatory authorities will not adopt any new regulation to restrict or prohibit foreign investments in the online marketing business through contractual arrangements in the future or that it will not determine that the ownership structure and contractual arrangements violate PRC laws, rules or regulations. If the Company and its consolidated VIE are found to be in violation of any existing or future PRC laws or regulations, or fail to obtain or maintain any of the required permits or approvals, the relevant PRC regulatory authorities would have broad discretion in dealing with such violations, including:

•

revoking the business licenses of such entities;

•

discontinuing or restricting the conduct of any transactions between the Company’s PRC subsidiaries and the OptAim VIE;

•

imposing fines, confiscating the income of the OptAim VIE or the Company’s PRC subsidiaries, or imposing other requirements with which the Company or its PRC subsidiaries and consolidated VIEs may not be able to comply;

•

requiring the Company to restructure its ownership structure or operations, including terminating the contractual arrangements with OptAim VIE and deregistering the equity pledges of OptAim VIE, which in turn would affect its ability to consolidate, derive economic interests from, or exert effective control over OptAim VIE; or

•

restricting or prohibiting its use of the proceeds of any offering to finance its business and operations in China.

If the imposition of any of these penalties precludes the Company from operating its business, it would no longer be in a position to generate revenue or cash from it. If the imposition of any of these penalties causes the Company to lose its rights to direct the activities of its consolidated VIEs or its rights to receive its economic benefits, the Company would no longer be able to consolidate these entities, and its financial statements would no longer reflect the results of operations from the business conducted by VIEs except to the extent that the Company receives payments from VIEs under the contractual arrangements. Either of these results, or any other significant penalties that might be imposed on the Company in this event, would have a material adverse effect on its financial condition and results of operations. Nevertheless, the laws and regulations that imposed restrictions on foreign ownership in advertising companies, including the Administrative Provisions on Foreign-Invested Advertising Enterprises were abolished in June 2015. To the extent any current or future business of OptAim VIE can be directly operated by the Company’s wholly owned subsidiaries under PRC law, the Company is in the process of transferring such business to the Company’s wholly owned subsidiaries. The Company expects that by the end of 2018, OptAim WFOE will replace OptAim VIE and its subsidiary as contracting party for their businesses that are operated by OptAim VIE and its subsidiary.

On January 19, 2015, the Ministry of Commerce of the PRC, or (the “MOFCOM”) released on its Website for public comment a proposed PRC law (the “Draft FIE Law”) that appears to include VIEs within the scope of entities that could be considered to be foreign invested enterprises (or “FIEs”) that would be subject to restrictions under existing PRC law on foreign investment in certain categories of industry. Specifically, the Draft FIE Law introduces the concept of “actual control” for determining whether an entity is considered to be an FIE. In addition to control through direct or indirect ownership or equity, the Draft FIE Law includes control through contractual arrangements within the definition of “actual control”. If the Draft FIE Law is passed by the People’s Congress of the PRC and goes into effect in its current form, these provisions regarding control through contractual arrangements could be construed to reach the Group’s VIE arrangement, and as a result the Group’s VIE could become explicitly subject to the current restrictions on foreign investment in certain categories of industry. The Draft FIE Law includes provisions that would exempt from the definition of foreign invested enterprises entities where the ultimate controlling shareholders are either entities organized under PRC law or individuals who are PRC citizens.

The Draft FIE Law does not make clear how “control” would be determined for such purpose, and is silent as to what type of enforcement action might be taken against existing VIEs that operate in restricted industries and are not controlled by entities organized under PRC law or individuals who are PRC citizens. If a finding were made by PRC authorities under the Draft FIE Law if it becomes effective, that the Company’s operation of certain of its operations and businesses through VIE violates the Draft FIE Law, regulatory authorities with jurisdiction over the licensing and operation of such operations and businesses may require the Company to take various actions as discussed in the paragraph above. The Group’s management considers the possibility of such a finding by PRC regulatory authorities under the Draft VIE law, if it becomes effective, to be remote.

OptAim VIE holds assets that are important to the operation of the Group’s business, including patents for proprietary technology and trademarks. If OptAim VIE falls into bankruptcy and all or part of its assets become subject to liens or rights of third-party creditors, the Group may be unable to conduct major part of its business activities in China, which could have a material adverse effect on the Group’s future financial position, results of operations or cash flows. However, the Group believes this is a normal business risk many companies face. The Group will continue to closely monitor the financial conditions of OptAim VIE.

OptAim VIE’s assets comprise both recognized and unrecognized revenue-producing assets. The recognized revenue-producing assets include leasehold improvements, computers and network equipment and self-developed computer software which are recognized in the Company’s consolidated balance sheet. The unrecognized revenue-producing assets mainly consist of patents, trademarks and assembled workforce which are not recorded in the financial statements of OptAim VIE as it did not meet the recognition criteria set in ASC 350-30-25.

The following financial information of the OptAim VIE and its subsidiary excluding the intercompany items with the Company’s subsidiaries was included in the accompanying financial statements as of December 31, 2016 and 2017 and for the years ended December 31, 2015, 2016 and 2017:


	As of December 31,
	2016		2017
Assets
Current assets
Cash and cash equivalents		1,046		1,585
Accounts receivable, net		8,129		5,553
Other current assets		17,761		552

Total current assets		26,936		7,690

Non-current assets
Property and equipment, net		36		14
Other non-current assets		163		163

Total non-current assets		199		177

Total assets		27,135		7,867

Liabilities
Current liabilities
Accounts payable		28		29
Deferred revenue		11,878		5,986
Accrued liabilities and other current liabilities		404		804

Total current liabilities		12,310		6,819

Total liabilities		12,310		6,819


	For the years ended December 31,
	2015			2016			2017
Net revenues		11,653			52,215			25,302
Net (loss)/profit		(172	)		(322	)		1,646


	For the years ended December 31,
	2015			2016			2017
Net cash (used in)/provided by operating activities		(1,144	)		1,043			539
Net cash used in investing activities		(19	)		(3	)		—

Net (decrease)/increase in cash and cash equivalents		(1,163	)		1,040			539

In accordance with the VIE arrangements, the Group has the power to direct activities of the OptAim VIE, and can have assets transferred out of the OptAim VIE. Therefore, the Group considers that there is no assets of the OptAim VIE can be used only to settle their obligations.

(b)

Foreign exchange risk

Assets and liabilities of non-US$ functional currency entities are translated into US$ using the applicable exchange rates at the balance sheet date. Items in the statements of comprehensive loss are translated into US$ using the average exchange rate during the period. Equity accounts were translated at their historical exchange rates. The resulting translation adjustments are accumulated as a component of accumulated other comprehensive income on the consolidated statements of shareholders’ deficit.

Certain of the Group’s operating activities are transacted in Renminbi (“RMB”), which is not freely convertible into foreign currencies. All foreign exchange transactions take place either through the People’s Bank of China or other banks authorized to buy and sell foreign currencies at the exchange rates quoted by the People’s Bank of China.

The revenues and expenses of the Group’s subsidiaries and the VIE in the PRC are generally denominated in RMB and their assets and liabilities are denominated in RMB. RMB is not freely convertible into foreign currencies, and remittances of foreign currencies into the PRC and exchange of foreign currencies into RMB require approval by foreign exchange administrative authorities and certain supporting documentation. The State Administration for Foreign Exchange, under the authority of the People’s Bank of China, controls the conversion of RMB into other currencies. Approval of foreign currency payments by the People’s Bank of China or other regulatory institutions requires submitting a payment application form together with suppliers’ invoices and signed contracts. The value of RMB is subject to changes in central government policies and to international economic and political developments affecting supply and demand in the China Foreign Exchange Trading System market.

Certain of the Group’s operating activities are transacted in Hong Kong Dollars (“HK$”). Foreign exchange risk arises from future commercial transactions, recognized assets and liabilities and net investments in foreign operations. The Group considers the foreign exchange risk in relation to transactions denominated in HK$ with respect to US$ is not significant as HK$ is pegged to US$.

(c)

Fair value measurement

Fair value reflects the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining the fair value measurements for assets and liabilities required or permitted to be recorded at fair value, the Company considers the principal or most advantageous market in which it would transact and considers assumptions that market participants would use when pricing the asset or liability.

The Company applies a fair value hierarchy that requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. A financial instrument’s categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. There are three levels of inputs that may be used to measure fair value:

Level 1 applies to assets or liabilities for which there are quoted prices in active markets for identical assets or liabilities.

Level 2 applies to assets or liabilities for which there are inputs other than quoted prices included within Level 1 that are observable for the asset or liability such as quoted prices for similar assets or liabilities in active markets; quoted prices for identical assets or liabilities in markets with insufficient volume or infrequent transactions (less active markets); or model-derived valuations in which significant inputs are observable or can be derived principally from, or corroborated by, observable market data.

Level 3 applies to assets or liabilities for which there are unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of the assets or liabilities.

The estimated fair values of the Company’s financial assets and liabilities classified under the appropriate level of the fair value hierarchy as described above was as follows:


	Fair value measurements using
	Total fair value		Quoted prices in active market for identical assets (Level 1)		Significant other observable inputs (Level 2)		Significant Unobservable inputs (Level 3)
As of December 31, 2016
Cash and cash equivalents		27,280		27,280		—		—
Restricted cash		5,234		5,234		—		—
Bank borrowings		12,982		—		12,982		—
Derivative liabilities		60,525		—		—		60,525

As of December 31, 2017
Cash and cash equivalents		19,401		19,401		—		—
Time deposit		25,000		25,000		—		—
Bank borrowings		10,486		—		10,486		—

(d)

Concentration risk

(i)

Concentration of revenues

For the year ended December 31, 2017, no individual customer accounted for more than 10% of the net revenues. For the year ended December 31, 2016, two customers accounted for 18% and 11% of the net revenues, respectively. No individual customer accounted for more than 10% of the net revenues for the year ended December 31, 2015.

(ii)

Concentration of accounts receivable

The Group has not experienced any significant recoverability issue with respect to its accounts receivable. The Group conducts credit evaluations on its customers and generally does not require collateral or other security from such customers. The Group periodically evaluates the creditworthiness of the existing customers in determining an allowance for doubtful accounts primarily based upon the age of the receivables and factors surrounding the credit risk of specific customers.

As of December 31, 2016 and 2017, no individual customer accounted for more than 10% of the consolidated accounts receivable. The top 10 accounts receivable accounted for 39% and 42% of the consolidated accounts receivable as of December 31, 2016 and 2017, respectively.

(iii)

Credit risk

As of December 31, 2016 and 2017, substantially all of the Group’s cash and cash equivalents were placed with financial institutions in Hong Kong and the PRC. Management chooses these institutions because of their reputations and track records for stability, and their known large cash reserves, and management periodically reviews these institutions’ reputations, track records, and reported reserves. Management expects that any additional institutions that the Group uses for its cash and bank deposits will be chosen with similar criteria for soundness. The balances in the PRC are not insured since it is not a market practice in the PRC. Nevertheless under the PRC law, it is required that a commercial bank in the PRC that holds third party cash deposits should maintain a certain percentage of total customer deposits taken in a statutory reserve fund for protecting the depositors’ rights over their interests in deposited money. PRC banks are subject to a series of risk control regulatory standards; PRC bank regulatory authorities are empowered to take over the operation and management of any PRC bank that faces a material credit crisis. The Group believes that it is not exposed to unusual risks as these financial institutions are PRC banks with high credit quality. The Group had not experienced any losses on its deposits of cash and cash equivalents during the years ended December 31, 2015, 2016 and 2017 and believes that its credit risk to be minimal.

Business Acquisition

12 Months Ended

Dec. 31, 2017

Business Combinations [Abstract]

Business Acquisition

4	Business Acquisition

The Company accounted for its acquisitions in accordance with ASC 805, “Business Combination” (“ASC 805”). The results of the acquirees’ operations have been included in the consolidated financial statements since the acquisition date. The excess of the fair value of the acquired entities over the fair value of net tangible and intangible assets acquired was recorded as goodwill, which is not deductible for corporate income taxation purposes.

(a)

Acquisition of Buzzinate

In November 2014, the Company entered into a SPA with Buzzinate and its shareholders and acquired 33.3% equity interest in Buzzinate as the first tranche, at a cash consideration of US$750. In the SPA, the Company has also agreed to purchase up to 57.1% equity interests in Buzzinate in stages from April 2015 to April 2016, and there was an agreement to purchase the remaining 42.9% equity interests in Buzzinate when the purchase of equity interests up to 57.1% was completed.

Pursuant to the SPA, the Company had an option to accelerate the completion dates of the remaining tranches by paying the cash consideration upon exercising the option. On February 13, 2015, the Company acquired in one go the equity interests in Buzzinate of the remaining five tranches at cash considerations of US$250 for each tranche purchased, and exercised the option to acquire the remaining equity interests in Buzzinate by issuing 142,151 shares of the Company which amounted to US$2,027. Buzzinate then became a wholly owned subsidiary of the Company.

The movement of carrying value of the equity method investment in Buzzinate from January 1, 2015 to February 13, 2015 (the “period”) is as follows:


Balance at beginning of the period	533
Share of loss of equity investee for the period	(38	)

Balance at February 13, 2015	495
Fair value gain on re-measurement of equity investee	1,161

	1,656

Fair value of consideration transferred:


Cash			1,250
Ordinary shares of the Company			2,027

Total			3,277

Fair value of previously held interest in Buzzinate			1,656

Recognized amounts of identifiable assets acquired and liabilities assumed:


Cash	1,439
Other current assets	207
Property and equipment	375
Intangible asset	644
Current liabilities	(529	)
Deferred tax liabilities	(161	)

Total identifiable net assets acquired	1,975

Goodwill (Note 11)	2,958

Total purchase consideration, net of cash acquired	3,494

The excess of purchase price over tangible assets and identifiable intangible assets acquired and liabilities assumed was recorded as goodwill. Goodwill associated with acquisition of Buzzinate was attributable to the expected synergy arising from the consolidated operations. The acquired goodwill is not deductible for tax purposes. Acquisition-related costs were insignificant and were included in general and administrative expenses for the year ended December 31, 2015.

In determining the fair value of previously held interest in Buzzinate, a business valuation of Buzzinate was undertaken by management with the assistance of an external valuer. Significant factor, assumptions and methodologies used in determining the business valuation include applying the discounted cash flow approach. Such approach involves certain significant estimates, which are terminal growth rate of 3.0%, weighted average cost of capital of 18.6%, and growth rate on average spending per customer ranges from 3.0% to 10.0%.

In determining the fair value of the intangible asset, an income approach was used. In this approach, significant estimates consist of discount rate of 19.6% and growth rate on average spending per customer ranges from 3.0% to 10.0%. The estimated amounts recognized on the acquired identifiable intangible asset and its estimated useful life are shown in the following table:

Pro-forma results related to the acquisition in accordance with ASC 805 have not been presented because the acquisition of Buzzinate is not material, where net revenue and net loss of the acquired entities are less than 5% of the Company’s consolidated net revenue and net loss for the corresponding year.

(b)

Acquisition of OptAim

In July 2015, the Company acquired 100% equity interest of OptAim from several independent third parties. OptAim, through its VIE and its underlying subsidiary, is engaged in the provision of online and mobile marketing services in the PRC. The Company expects to increase its market shares in the PRC online marketing segment, particularly in relation to mobile platforms.

The total purchase consideration for all the equity interest of OptAim amounted to US$67,620. This is comprised of cash consideration of US$15,976, 2,535,091 shares of the Company amounted to US$50,843 and fair value of replacement awards attributable to pre-acquisitionservices amounted to US$801.

The acquisition was recorded as a business combination. The following table summarizes the estimated fair values of the assets acquired and liabilities assumed at the date of acquisition:

Fair value of consideration transferred:


Cash			15,976
Ordinary shares of the Company			50,843
Fair value of replacement awards attributable to pre-acquisition services			801

			67,620

Recognized amounts of identifiable assets acquired and liabilities assumed:


Cash	1,301
Other current assets	13,193
Property and equipment	84
Intangible asset	20,100
Current liabilities	(7,571	)
Deferred tax liabilities	(5,025	)

Total identifiable net assets acquired	22,082

Goodwill (Note 11)	45,538

Total purchase consideration, net of cash acquired	50,343

As of December 31, 2015, purchase consideration payable of US$15,976 was settled and there is no adjustment to the purchase consideration amounts.

The excess of purchase price over tangible assets, identifiable intangible asset acquired and liabilities assumed was recorded as goodwill. Goodwill associated with the acquisition of OptAim was attributable to the expected synergy arising from the consolidated marketing operations. The acquired goodwill is not deductible for tax purposes. Acquisition-related costs were immaterial and were included in general and administrative expenses for the year ended December 31, 2015.

In determining the fair value of shares of the Company issued as part of the consideration of acquiring OptAim, a business valuation of the Company was performed by management with the assistance of an external valuer. Significant factors, assumptions and methodologies used in determining the business valuation include applying the discounted cash flow approach. Such approach involves certain significant estimates. They are terminal growth rate of 3.0%, weighted average cost of capital of 16.1%, and growth rate on average spending per customer ranges from 1.0% to 4.0%.

In determining the fair value of the intangible asset, an income approach was used. In this approach, significant estimates consist of discount rate of 20.6% and a growth rate on average spending per customer ranges from 3.0% to 8.0%. The estimated amounts recognized on the acquired identifiable intangible asset and its estimated useful life are shown in the following table:


	Estimated useful life		Gross carrying amount
A self-developed computer software and systems		5 years		20,100

Unaudited pro forma operating results for the Company, assuming the acquisition of OptAim occurred on January 1, 2015 is as follows:


	For the year ended December 31, 2015
Net revenues		69,025
Net loss		(39,688	)
Net loss per share		(3.80	)
Diluted loss per share		(3.80	)

The Company did not have any material, non-recurring pro-forma adjustments directly attributable to the business combination reflected in the reported pro-forma net revenue and net loss.

The pro forma information is not necessarily indicative of the actual results that would have been achieved had OptAim acquisition occurred as of January 1, 2015 or the results that may be achieved in future periods.

Cash and cash equivalents and time deposit

12 Months Ended

Dec. 31, 2017

Cash and Cash Equivalents [Abstract]

Cash and cash equivalents and time deposit

5	Cash and cash equivalents and time deposit

Cash and cash equivalents represent cash on hand, cash held at bank, and short-term deposits placed with banks or other financial institutions, which have original maturities of three months or less.

As of December 31, 2017, the Group had a time deposit of US$25,000 with an original maturity of 3.2 months denominated in US dollars (2016: US$nil).

Cash on hand and cash held at bank balance as of December 31, 2016 and 2017 primarily consist of the following currencies:


	As of December 31,
	2016				2017
	Amount		equivalent		Amount		equivalent
RMB		67,697		9,771		50,600		7,694
HK$		15,666		2,019		18,099		2,332
US$		15,064		15,064		33,639		33,639
SGD		235		165		432		323
TWD		2,855		88		7,014		235
Euro (“EUR”)		125		133		106		126
Others		292		40		67		52

				27,280				44,401

Restricted cash

12 Months Ended

Dec. 31, 2017

Cash and Cash Equivalents [Abstract]

Restricted cash

6	Restricted cash

The Group’s restricted cash amounting to US$5,234 as of December 31, 2016 represented balance held in a restricted bank account pursuant to certain short term loan agreements (see Note 15 for details). The restricted cash was held in US$ and carried fixed interest at the rate of 0.05% per annum as of December 31, 2016. As of December 31, 2017, the Group did not have any restricted cash.

Accounts receivable, net

12 Months Ended

Dec. 31, 2017

Receivables [Abstract]

Accounts receivable, net

7	Accounts receivable, net


	As of December 31,
	2016			2017
Accounts receivable, gross		32,387			42,276
Less: allowance for doubtful accounts		(1,693	)		(1,478	)

Accounts receivable, net		30,694			40,798

The following table presents the movement in the allowance for doubtful accounts:


	For the years ended December 31,
	2016			2017
Balance at the beginning of year		1,733			1,693
Additions for the year		99			910
Recoveries		—			(40	)
Accounts receivable written off		(99	)		(1,134	)
Exchange differences		(40	)		49

Balance at the end of year		1,693			1,478

- Definition

The entire disclosure for claims held for amounts due a entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses.

+ References + Details

Other assets

12 Months Ended

Dec. 31, 2017

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Other assets

8	Other assets

The other assets consist of the following:


	As of December 31,
	2016		2017
Current
Deposits		2,202		2,248
Prepayments		417		266
VAT receivable		372		379
Others		64		214

		3,055		3,107

Non-current
Prepayment for acquisition of fixed assets		122		—
Rental deposits		249		284

		371		284

Property and equipment, net

12 Months Ended

Dec. 31, 2017

Property, Plant and Equipment [Abstract]

Property and equipment, net

9	Property and equipment, net

Property and equipment consist of the following:


	As of December 31,
	2016			2017
Cost:
Office equipment		4,629			4,661
Leasehold improvements		1,653			1,763
Furniture and fixtures		747			753

Total cost		7,029			7,177
Less: Accumulated depreciation		(4,519	)		(5,882	)
Exchange differences		(192	)		(130	)

Property and equipment, net		2,318			1,165

Depreciation expense recognized for the years ended December 31, 2015, 2016 and 2017 are summarized as follows:


	For the years ended December 31,
	2015		2016		2017
Cost of revenues		9		11		6
Research and development		161		199		108
Sales and marketing expenses		662		838		582
General and administrative expenses		306		464		667

Total		1,138		1,512		1,363

Intangible assets, net

12 Months Ended

Dec. 31, 2017

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible assets, net

10	Intangible assets, net

Intangible assets consist of the following:


	As of December 31,
	2016			2017
Cost:
Computer software		21,576			21,593
Less: Accumulated amortization
Computer software		(6,773	)		(10,994	)
Exchange differences		1			1

Intangible assets, net		14,804			10,600

Amortization expense recognized for the years ended December 31, 2015, 2016 and 2017 are summarized as follows:


	For the years ended December 31,
	2015		2016		2017
Cost of revenues		1,874		4,149		4,147
Research and development		30		28		3
Sales and marketing expenses		16		19		17
General and administrative expenses		123		116		54

		2,043		4,312		4,221

The estimated aggregate amortization expense for each of the next five years as of December 31, 2017 is:


	Computer software
2018		4,168
2019		4,149
2020		2,283
2021		—
2022		—

		10,600

Goodwill

12 Months Ended

Dec. 31, 2017

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

11	Goodwill

Movements on goodwill during the year were as follows:


	Buzzinate		OptAim		Total
Balance as of January 1, 2016, December 31, 2016 and 2017		2,958		45,538		48,496

Goodwill is not deductible for tax purposes. The Group performs the annual impairment test on December 31 of each year using a two-step process as explained in Note 2(q). In the first step of the goodwill impairment test, the Group estimated the fair value of its reporting unit using the market approach. Under the market approach, the Company utilized the market capitalization of its publicly-traded shares to determine the fair value of the Group, as a single reporting unit. According to the assessment of the first step, the fair value of the reporting unit exceeded its carrying amount and goodwill was not considered impaired. Accordingly, the second step was not required. Based on the impairment tests performed, no impairment of goodwill was recorded for all years presented.

Deferred revenue

12 Months Ended

Dec. 31, 2017

Revenue Recognition and Deferred Revenue [Abstract]

Deferred revenue

12	Deferred revenue


	As of December 31,
	2016		2017
Deferred revenue, current		25,697		33,037

Accrued liabilities and other current liabilities

12 Months Ended

Dec. 31, 2017

Payables and Accruals [Abstract]

Accrued liabilities and other current liabilities

13	Accrued liabilities and other current liabilities


	As of December 31,
	2016		2017
Rebates payable to customers		5,214		3,257
VAT and other taxes payable		1,679		2,659
Security deposit received from customers		772		686
Accrued employee benefits		3,257		2,741
Accrued professional fees		1,544		4,167
Accrued marketing and hosting expense		1,424		1,831
Others		1,201		788

		15,091		16,129

Bank borrowings

12 Months Ended

Dec. 31, 2017

Debt Disclosure [Abstract]

Bank borrowings

14	Bank borrowings


	As of December 31,
	2016		2017
1-year revolving loan denominated in RMB (Note (i), (vii))		4,330		7,603
1-year revolving loan denominated in US$ (Note (ii), (vii))		2,950		2,800
2-year demand loan agreement denominated in US$ (Note (iii), (vii))		1,083		83
6-month revolving loan denominated in RMB (Note (iv))		1,444		—
1-year revolving loan denominated in RMB (Note (v), (vii))		1,732		—
3-month loan denominated in RMB (Note (vi), (vii))		1,443		—

		12,982		10,486

Note:

(i)

On December 19, 2016, the Company, through its PRC subsidiaries, renewed a one-year revolving loan agreement with a bank amounting to RMB30 million (equivalent to US$4,330). The interest rate of this loan facility was the benchmark interest rate determined by the People’s Bank of China for loans over one year granted by financial institutions plus 1.65% per annum. This loan was subsequently renewed for one year in December 2017 amounting to RMB50 million (equivalent to US$7,603) at the same interest rate.

(ii)

On December 21, 2016, the Company, through its Hong Kong subsidiaries, renewed a one-year loan facility agreement with a bank amounting to US$3,000. Out of this loan facility, the Hong Kong subsidiary had utilized US$2,950 and US$ 2,800 as of December 31, 2016 and 2017, respectively. The interest rate of this short-term loan facility was determined by three-month LIBOR plus 5.75% and three-month LIBOR plus 5.55% for the years ended December 31, 2016 and 2017.

(iii)

On January 20, 2016, the Company, through its Hong Kong subsidiaries, entered into a two-year loan agreement with a bank amounting to US$2,000. Out of this loan facility, the Hong Kong subsidiaries had utilized US$1,083 and US$83 as of December 31, 2016 and 2017, respectively. The interest rate of this loan was the benchmark interest rate determined by three-month LIBOR plus 7.00% per annum. The bank facility agreement includes repayable on demand clauses such that the bank borrowing are classified as current liabilities as of December 31, 2016 and 2017.

(iv)

On May 20, 2016, the Company, through one of its PRC subsidiaries, entered into a six-month revolving loan agreement with a bank of limit up to RMB20 million. Out of this loan facility, the PRC subsidiary had utilized RMB10 million (equivalent to US$1,444) as of December 31, 2016. The interest rate of this loan facility was the benchmark interest rate determined by the People’s Bank of China for loans over six months granted by financial institutions plus 20.0% per annum. Restricted cash amounting to US$1,568 was held as required by this loan agreement as of December 31, 2016. The loan was repaid on January 13, 2017.

(v)

On July 28, 2016, the Company, through one of its PRC subsidiaries, entered into a one-year revolving loan agreement with a bank amounting to a total of RMB12 million (equivalent to US$1,732). The interest rate of this loan facility was the benchmark interest rate determined by the People’s Bank of China for loans over one year granted by financial institutions plus 0.435% per annum. Restricted cash amounting to US$2,000 was held in a restricted bank account as required by this loan agreement as of December 31, 2016. The loan was repaid on July 28, 2017.

(vi)

On November 14, 2016, the Company, through one of its PRC subsidiaries, entered into a three-month revolving loan agreement with a bank amounting to a total of RMB10 million (equivalent to US$1,443). The interest rate of this loan facility was the benchmark interest rate determined by the People’s Bank of China for loans over three months granted by financial institutions plus 0.435% per annum. Restricted cash amounting to US$1,666 was held in a restricted bank account as required by this loan agreement as of December 31, 2016. The loan was repaid on February 14, 2017.

(vii)

As of December 31, 2016 and 2017, certain financial covenants (minimum monthly adjusted quick ratio and minimum quarterly EBITDA as defined in the banking facilities agreements) as set out in these loan agreements have been breached. The relevant subsidiaries have obtained waiver letters for waiving the requirements to meet the financial covenants. As of the date of this report, the bank cannot demand for immediate repayment.

(viii)

In March 2017, the Company entered into a facility agreement for working capital loans with a bank, which provides for a RMB30 million (US$4.3 million) 18-month revolving loan. The Company provide corporate guarantee and account receivables as pledge to secure the obligations under this revolving loan. The interest rate of this loan facility is fixed at 5.75% per annum. As of December 31, 2017, the Company had not drawn down under this revolving loan.

The weighted average interest rate for bank loans outstanding as of December 31, 2016 and 2017 was 5.99% and 6.33% per annum, respectively. Other than those shown above, the Company did not have any significant capital and other commitments, long-term obligations, or guarantees as of December 31, 2016 and 2017.

Redeemable convertible preferred shares

12 Months Ended

Dec. 31, 2017

Equity [Abstract]

Redeemable convertible preferred shares

15	Redeemable convertible preferred shares

Series A preferred shares

On February 17, 2010, the Company entered into an agreement (“Series A Agreement”) to issue Series A preferred shares and preferred share warrants to a third-party investor (“Investor A”) for a total cash consideration of US$1,200. Accordingly, the Company issued 1,142,857 Series A preferred shares at US$1.05 per share; and warrants to purchase 342,857 Series A preferred shares at US$1.05 per share (“Series A Warrants”) at the option of Investor A. Pursuant to the Series A Agreement, the Company also granted an option, exercisable within one year from the date of agreement, to Investor A where the Company would issue 761,905 Series A preferred shares at US$1.05 per share (“Series A-1 preferred shares”) and warrants to purchase 228,571 Series A preferred shares at US$1.05 per share (“Series A-1 Warrants”) at the option of Investor A. On September 29, 2010, Investor A exercised the option and the Group received a total consideration of US$800. During the year ended December 31, 2013, both Series A Warrants and Series A-1 Warrants were fully exercised.

In December 2017, Series A preferred shares had been automatically converted into 2,476,190 Class A ordinary shares after closing of IPO.

Series B preferred shares

On February 21, 2011, the Company entered into agreements (“Series B Agreements”) to issue Series B preferred shares and preferred share warrants to two other third-party investors (“Investors B”) for an aggregate cash consideration of US$7,000. Pursuant to the Series B Agreements, the Company issued 1,266,667 Series B preferred shares at US$5.53 per share; and warrants to purchase 542,858 Series B preferred shares at US$5.53 per share (“Series B Warrants”) at the option of Investors B. During the year ended December 31, 2013, the Series B Warrants were fully exercised.

On May 16, 2011, the Company entered into an agreement (“Series B-1 Agreement”) to issue additional Series B preferred shares to another third-party investor (“Investor B-1”) for a total consideration of US$4,285 (“Series B-1 preferred shares”). Pursuant to the Series B-1Agreement, the Company issued 723,808 Series B-1 preferred shares at US$5.92 per share.

On September 24, 2015, the Company repurchased from Investor B-1 723,808 Series B-1 preferred shares at a consideration of US$11,581.

For accounting purposes, the Company determined the per share fair value of Series B-1 preferred shares to be US$19.58 on September 24, 2015, the date of repurchase. The per share repurchase price of US$16.00 was mutually negotiated at the time of the repurchase transaction. There were no other arrangements with Investor B-1. Investor B-1 was willing to sell its Series B-1 preferred shares at the US$16.00 per share price as it would provide liquidity to Investor B-1. For the Series B-1 preferred shares repurchased, the Company recorded the excess of purchase price over the carrying value of US$2,591 to accumulated deficit as deemed contribution from Series B-1 preferred shareholders.

In December 2017, Series B preferred shares had been automatically converted into 1,889,249 Class A ordinary shares after closing of IPO.

Series C preferred shares

On December 16, 2013, the Company entered into an agreement (“Series C Agreement”) to issue Series C preferred shares to another third-party investor (“Investor C”) for a total cash consideration of US$13,000. Pursuant to the Series C Agreement, the Company issued 1,599,186 Series C preferred shares at US$8.13 per share.

In December 2017, Series C preferred shares had been automatically converted into 1,599,186 Class A ordinary shares after closing of IPO.

Series D preferred shares

On December 30, 2014, the Company entered into an agreement (“Series D Agreement”) to issue Series D preferred shares to another third-party investor (“Investor D”) for a total cash consideration of US$48,000. Pursuant to the Series D Agreement, the Company issued 2,493,018 Series D preferred shares at US$19.25 per share.

The Company was also obligated to issue additional Series D preferred shares to Investor D at no consideration, the total number of which is based on a formula stipulated in the agreement, if the gross billing of the Group as defined in the Series D Agreement for the year ended December 31, 2016 is less than US$85,000. Considering the gross billing of the Group as defined in the Series D Agreement for the year ended December 31, 2016 was more than US$85,000, no additional Series D preferred shares were issued. Furthermore, the Company determines that the fair value of this obligation is zero as of December 31, 2016.

In December 2017, Series D preferred shares had been automatically converted into 2,493,018 Class A ordinary shares after closing of IPO.

Series E preferred shares

On December 28, 2016, the Company entered into an agreement (“Series E Agreement”) to issue Series E preferred shares to another third-party investor (“Investor E”) for a total cash consideration of US$20,000. Pursuant to the Series E Agreement, the Company issued 1,068,114 Series E preferred shares at US$18.72 per share.

In December 2017, Series E preferred shares had been automatically converted into 1,068,114 Class A ordinary shares after closing of IPO.

The key terms of the Series A, B, C, D and E preferred shares are as follows:

Dividend rights

Subject to the approval and declaration by the Board of Directors, the holders of the preferred shares are entitled to receive dividends in the following order:

•

Series E preferred shareholders are entitled to receive dividends at an amount equal to 8% of the issue price prior to and in preference to any dividend on the Series D preferred Shares, Series B preferred shares, Series A preferred shares, Series C preferred shares and ordinary shares or any other class or series of shares

•

the Series D preferred shareholders are entitled to receive dividends at an amount equal to 8% of the issue price prior to and in preference to any dividends on the Series B, Series A and Series C preferred shares and ordinary shares or any other class or series of shares;

•

the Series B preferred shareholders are entitled to receive dividends at an amount equal to 8% of the issue price prior to and in preference to any dividends on the Series A and Series C preferred shares and ordinary shares or any other class or series of shares;

•

the Series A preferred shareholders are entitled to receive dividends at an amount equal to 8% of the issue price prior to and in preference to any dividends on the Series C preferred shares and ordinary shares or any other class or series of shares;

•

any remaining dividends shall be distributed on a pro rata basis to holders of all the preferred shares and ordinary shares on a fully diluted and as-if converted basis.

Voting rights

The holders of the Series A, B, C, D and E preferred shares shall be entitled to such number of votes equal to the whole number of ordinary shares into which such Series A, B, C, D and E preferred shares are convertible.

Liquidation preference

In the event of a liquidating transaction as defined in the Company’s Memorandum and Articles of Association as 1) a winding up or other dissolution of the Company or any of its subsidiaries, 2) a merger or acquisition of the Company or any of its subsidiaries in which the shareholders of the Company do not directly or indirectly own a majority of the outstanding shares of the surviving corporation, 3) a sale of all or substantially all of the assets of the Company or assets of its subsidiaries, or 4) government policies promulgated or interpreted after the closing that prohibit investment or exit of the Company by foreign investors, provided, that, in the case of 2) and 3), only when such merger, acquisition or sale implies a valuation of the Company on a fully diluted basis of less than US$550,000, available assets and funds are distributed as following manner.

The holders of Series E, Series D, Series B and Series A preferred shares are entitled to receive an amount equal to i) 110% prior to or on December 28, 2017 or ii) 120% from January 1, 2018, 150%, 150% and 200%, respectively, of the issue price as defined in the Company’s Memorandum and Articles of Association (adjusted for share dividends, splits, combinations, recapitalizations or similar events, and plus all accrued or declared but unpaid dividends thereon minus all paid cash or non-cash dividends and distributions paid thereon since issue date). If the assets of the Company shall be insufficient to make the payment of the amount in full, then the assets of the Company shall be distributed ratably to the holders of preferred shares in proportion to the amount each holder would otherwise be entitled to receive in order of 1) Series E, 2) Series D, 3) Series B and then 4) Series A.

If the liquidating transaction is a qualified merger or acquisition of the Company in which the shareholders of the Company do not directly or indirectly own a majority of the outstanding shares of the surviving corporation or a sale of all or substantially all of the assets of the Company, in each case, which implies i) an equity valuation of the Group of US$300,000 or higher, the distribution to the holders of Series B and Series A preferred shares shall be reduced to 0% of issue price or ii) an equity valuation of the Group of US$250,000 or higher, but lower than US$300,000, the distribution to the holders of Series B and Series A preferred shares shall be reduced to 100% of issue price as defined in the Company’s Memorandum and Articles of Association.

After the full amount has been paid to holders of Series E, Series D, Series B and Series A, any remaining funds or assets of the Company legally available for distribution shall be distributed pro rata among the holders of preferred shares on an as-converted basis together with the holders of the ordinary shares.

Conversion rights

Each share of the Series A, B, C, D and E preferred shares is convertible at the option of the holder, at any time after the issuance of such shares, and each share can be converted into one ordinary share of the Company. The conversion is subject to adjustments for certain events, including but not limited to additional equity securities issuance share dividends, distribution, subdivisions, redemptions, combinations, or consolidation of ordinary shares. The conversion price is also subject to adjustment in the event the Company issues additional ordinary shares at a price per share that is less than such conversion price. In such case, the conversion price shall be reduced to adjust for dilution on a weighted average basis.

In addition, each share of the Series A, B, C, D and E preferred shares would automatically be converted into ordinary shares of the Company (i) upon the closing of an initial public offering of the Company’s shares or (ii) upon the election of holders of at least a majority of the then issued and outstanding preferred shares, voting together as a single class on an as-if-converted basis.

The Company has determined that there was no beneficial conversion feature attributable to the Series A, A-1, B, B-1, C, D and E preferred shares because the accounting conversion of these preferred shares upon issuance were higher than the fair value of the Company’s ordinary shares as determined by the Company with the assistance from an independent valuation.

Anti-dilution provision

Pursuant to the provisions of Series B Agreement, there is an anti-dilution provision which prevents the original ownership interest of ordinary shares, Series B preferred shares and Series B preferred share warrants (as if converted into Series B preferred shares) owned by Investors B to be diluted.

In May 2011, the Company issued 457,611 ordinary shares of the Company to Mr. Cong and Mr. Liu in exchange for Mr. Cong and Mr. Liu would procure the grant of an exclusive reseller agreement from Baidu Online Network Technology (Beijing) Co. Ltd. (“Baidu”) for Hong Kong, Macau, Taiwan and Singapore for a period up to December 31, 2012. In accordance with the Series B Agreement, the issuance of the ordinary shares was considered an event which triggered the anti-dilution provision. As a result, the Company was required to issue additional 100,452 ordinary shares and 55,807 Series B preferred shares and to amend the conversion price of Series B preferred share warrants to maintain the original ownership interests of these ordinary shares, preferred shares and preferred shares warrants owned by Investors B. There were no beneficial conversion features for the issuance of additional Series B preferred shares and the value of the additional ordinary shares and Series B preferred shares issued amounted to US$421 and US$320, respectively, was charged to additional paid-in capital as a deemed dividend.

Although the anti-dilution provision was triggered in May 2011, the Company only issued the additional ordinary shares and Series B preferred shares in May 2013. Accordingly, the Company recorded such obligation to issue additional ordinary shares and Series B preferred shares as liabilities until the corresponding ordinary shares and preferred shares were issued in May 2013.

Redemption right

The Series A and B preferred shares are redeemable at any time after the earlier of: (i) the 4th anniversary of the closing of sale and purchase of the Series A Agreement and Series B Agreement, respectively; or (ii) the occurrence of a material breach as defined in the subscription agreements.

The holders of Series C preferred shares can redeem the preferred shares at any time after the earlier of: (i) the 2^nd anniversary of the closing of sale and purchase of the Series C Agreement; (ii) the occurrence of any liquidating transaction as defined in the subscription agreements; (iii) Mr. Hsieh, Wing Hong Sammy, ceasing to exert day-to-day management and operational control over the Group; or (iv) any holder of the Series B preferred shares or the Series A preferred shares or the Series D preferred shares or the Series E preferred shares electing for redemption.

The holders of Series D preferred shares can redeem the preferred shares at any time after the earlier of: (i) the 2^nd anniversary of the closing of sale and purchase of the Series D preferred shares; (ii) the occurrence of any liquidating transaction as defined in the subscription agreements; (iii) Mr. Hsieh, Wing Hong Sammy, ceasing to exert day-to-day management and operational control over the Group; (iv) the occurrence of material breach of any warranty and covenants specified in the Series D Agreement; or (v) any holder of the Series A, Series B, or Series C preferred shares electing for redemption.

The holders of Series E preferred shares can redeem the preferred shares at any time after the earlier of: (i) the occurrence of any liquidating transaction as defined in the subscription agreements; (i) the failure of the Group to achieve the following targets: (1) the audited consolidated revenues from the principal business (excluding any non-operating and non-recurring revenue) of the Group as of and for the twelve months ending on December 31, 2017 being no less than US$200,000; and (2) the audited consolidated revenues from the principal business (excluding any non-operating and non-recurring revenue) of the Group as of and for the twelve months ending on December 31, 2018 being no less than US$300,000; (iii) the termination of the employment with the relevant Group Company by Mr. Hsieh, Wing Hong Sammy, Tang Jian or Lee, Yanshu before the consummation of a Qualified IPO as defined in the Company’s Memorandum and Articles of Association (i.e. the first firm commitment underwritten registered public offering by the Company of its ordinary shares for its own account that results in such securities being listed or registered on NASDAQ, New York Stock Exchange, Hong Kong Stock Exchange, the Shenzhen Stock Exchange, Shanghai Stock Exchange or such other international recognized stock exchange approved in writing by certain of its preferred shareholders with an implied market capitalization of the Company immediately prior to such offering of not less than US$600 million; and which results in aggregate net proceeds to the Company of not less than US$150 million); (iv) the failure of the Company to consummate a Qualified IPO prior to or on June 30, 2018 (iv) the occurrence of material breach of any warranty and covenants specified in the Series E Agreement; or (v) any holder of the Series A, Series B, Series C or Series D preferred shares electing for redemption.

The redemption price for Series A and B preferred shares is equal to the greater of (1) 200% or 150%, respectively, of the original issue price (plus all declared but unpaid dividends) or (2) the fair market value of the preferred shares subject to redemption as determined by an independent appraiser. With respect to the redemption price for Series C preferred shares, it is equal to 200% of the original issue price (proportionally adjusted for share splits and stack dividends). For the redemption price for Series D preferred shares, it shall be equal to the greater of (1) a price reflecting an implied valuation (on a fully-diluted basis) of the Company at US$500,000, (2) the highest redemption price that would have been received by any other shareholders of the Company if their shares have become redeemable (proportionally adjusted for share splits and stack dividends), or (3) a price reflecting the implied valuation (on a fully-diluted basis) of the Company used in any liquidating transaction as defined in the Company’s Memorandum and Articles of Association. For the redemption price for Series E preferred shares is equal to the greater of (1) 100% of the Series E issue price, plus 9.5% annual compound interest thereon calculated from the Series E original issue date to the date of receipt of the Series E redemption price, plus all declared but unpaid dividends thereon to the date of redemption, proportionally adjusted for stock splits, stock dividends, and the like, or (2) the highest redemption price that would have been received by any other shareholder of the Company if their shares have become redeemable, proportionally adjusted for stock splits, stock dividends, or (3) a price reflecting the implied valuation (on a fully-diluted basis) of the Company used in any Liquidating Transaction as defined in the Company’s Memorandum and Articles of Association.

Upon the completion of Series D Agreement, the redemption date of Series A, A-1, B, B-1 and C preferred share was changed to December 30, 2016. The redemption date of Series A, A-1, B, C and D preferred share was further changed to December 28, 2018 upon the completion Series E Agreement. Such change was considered as a modification and no gain or loss was recorded. However, considered the modification was occurred in connection with the issuance of Series D preferred shares and Series E preferred shares, there was a transfer of value from the existing preferred shareholders to new preferred shareholders and ordinary shareholders. With respect to the modification relating to the issuance of Series D preferred share, the transfer of value was considered insignificant. For the modification relating to the issuance of Series E preferred share, the transfer of value was recorded from additional paid in capital to retained earnings. Furthermore, due to the change of redemption date of Series C preferred share to December 28, 2018, the corresponding derivatives liabilities relating to the redemption feature were reclassified from current liabilities to non-current liabilities as of December 31, 2016.

The Company has determined that the Series A, A-1, B, B-1, C, D and E preferred shares should be classified as mezzanine equity after considering the features of the preferred shares as described above. The conversion features and redemption features as mentioned below, Series A Warrants, Series A-1 Warrants and Series B Warrants are initially measured at its fair value and the initial carrying value for Series A, A-1, B, B-1, C, D and E preferred shares is allocated on a residual basis as the warrants are liability classified. There were no beneficial conversion features for the Series A, A-1, B, B-1, C, D and E preferred shares.

The Company has determined that conversion feature embedded in the Series A, A-1, B, B-1, D and E preferred share is required to be bifurcated and accounted for as derivative liabilities as the economic characteristics and risks of the embedded conversion are not clearly and closely related to that of the preferred shares and there is a mechanism in place for net settlement. However, Series C preferred shares does not have a mechanism in place for net settlement and therefore, bifurcation is considered unnecessary.

The Company has also determined the redemption feature embedded in the Series C, D and E preferred shares is required to be bifurcated and accounted for as derivative liabilities as the economic characteristics and risk of the embedded redemption features are not clearly and closely related to that of the preferred shares. For Series A, A-1, B and B-1 preferred shares, the corresponding redemption feature is not required to be bifurcated and accounted for as derivative liabilities as the economic characteristic and risk of the embedded redemption feature are clearly and closely related to that of the preferred shares.

As of December 31, 2016, the fair values of these conversion features and redemption features which required to be bifurcated and accounted for as derivative liabilities are as follows:


	As of December 31,
	2016
Financial derivatives - conversion features		56,916
Financial derivatives - redemption features		3,968

		60,884
Less: current portion		(60,525	)

Non-current portion		359

Due to the redemption features described above with respect to Series A, A-1, B and B-1 preferred shares, the Company recognizes the changes in the redemption value immediately as they occur by way of accreting their respective carrying amounts to the redemption value to the first redemption date, using the effective interest method. The accretion is recorded against retained earnings, or in the absence of retained earnings, by charges against additional paid in capital. Once additional paid-in capital has been exhausted, additional charges are recorded by increasing the accumulated deficit of the Company.

In determining the fair value of these preferred shares for purposes of determining the conversion feature and redemption feature as of December 31, 2016, a business valuation of the Company was estimated. Significant factors, assumptions and methodologies used in determining the business valuation include applying the discounted cash flow approach, and such approach involves certain significant estimates which are as follows:


	As of December 31,
	2016
Terminal growth rate		3.0%
Weighted average cost of capital		18.3%
Growth rate on average spending per customer		3.0% - 19.0%

Series A


	Years ended December 31,
	2016		2017
Beginning balance		5,487		5,597
Accretion to redemption value		110		235
Conversion to Class A ordinary shares		—		(5,832	)

Ending balance		5,597		—

Series B


	Years ended December 31,
	2016		2017
Beginning balance		9,145		9,807
Accretion to redemption value		662		1,427
Conversion to Class A ordinary shares		—		(11,234	)

Ending balance		9,807		—

Series C


	Years ended December 31,
	2016		2017
Beginning balance		10,733		10,733
Conversion to Class A ordinary shares		—		(10,733	)

Ending balance		10,733		—

Series D


	Years ended December 31,
	2016		2017
Beginning balance		43,956		43,956
Gain from wavier on anti-dilution		—		(632	)
Conversion to Class A ordinary shares		—		(43,324	)

Ending balance		43,956		—

Series E


	Years ended December 31,
	2016		2017
Beginning balance		—		18,845
Issuance of preferred shares		18,845		—
Conversion to Class A ordinary shares		—		(18,845	)

Ending balance		18,845		—

Redeemable ordinary shares

12 Months Ended

Dec. 31, 2017

Text Block [Abstract]

Redeemable ordinary shares

16	Redeemable ordinary shares

On December 30, 2014, concurrent with the issuance of Series D preferred shares to Investor D, the Company issued 742,320 ordinary shares to Investor D at US$16.17 per share, of which 99,022 shares were transferred from treasury shares held by the Company and 643,298 shares were newly issued shares. The aggregate consideration was US$12,000.

Investor D shall have an option to require the Company to repurchase all of the ordinary shares if a qualified IPO is not consummated by the 2^nd anniversary of the closing of sale and purchase of the Series D preferred shares. The redemption price shall equal to the issue price, plus accrued interest at a non-compound interest rate of 18% and 12% per annum for each of 2016 and 2017. In December 2016, the redeemable date of the ordinary shares was further changed to December 28, 2017 upon the completion of Series E Agreement. The change in value of such modification was insignificant.

As these ordinary shares are contingently redeemable, they are classified as mezzanine equity. The Company recognizes the accretion charge using the effective interest method.

In December 2017, redeemable ordinary shares had been automatically converted into 742,320 Class A ordinary shares after the closing of IPO.

Ordinary shares

12 Months Ended

Dec. 31, 2017

Equity [Abstract]

Ordinary shares

17	Ordinary shares

The Company’s Memorandum and Articles of Association authorizes the Company to issue 37,150,000 shares and 100,000,000 shares of US$0.001 par value per ordinary share as of December 31, 2016 and 2017, respectively. Each ordinary share is entitled to one vote in shareholders meeting of the Company. The holders of ordinary shares are also entitled to receive dividends whenever funds are legally available and when declared by the board of directors, which is subject to the approval by the holders of the number of ordinary shares and Series A, B, C, D and E preferred shares representing a majority of the aggregate voting power of all outstanding shares. As of December 31, 2016 and 2017, there were 13,609,208 and 26,059,433 ordinary shares outstanding, respectively.

At the time the Company adopted the 2010 Employee Share Option Plan (the “2010 Share Option Plan”), the Company, together with the then shareholders, also decided to allot ordinary shares with par value of US$0.001 to Arda Holdings Limited (“Arda”), a British Virgin Islands company owned by the Group’s chairman and chief executive officer at no consideration. Arda will only hold these ordinary shares on trust for the benefit of the employees who are under the 2010 Share Option Plan and the dealing of these ordinary shares is under the direction of the board of directors of the Company. The Company considered Arda to be a variable interest entity as this entity has no equity at risk. The Company further considered that it is the primary beneficiary because the purchase of Arda is to hold treasury shares on behalf of the Company and the dealings of those transactions are under the direction of the Company’s board of directors. Given the structure of this arrangement, while these ordinary shares have been legally issued, they do not bear the attributes of unrestricted, issued and outstanding shares. Therefore, the ordinary shares issued to Arda are accounted for as treasury shares of the Company until these ordinary shares are earned by the Company’s employees, officers, directors or consultants for service provided to the Group. The Company allotted 627,811 shares during the year the 2010 Share Option Plan was adopted, and 788,459 and 762,561 shares during the years ended December 31, 2016 and 2017 to Arda. Arda does not hold any other assets or liabilities as at December 31, 2016 and 2017, nor earn any income nor incur any expenses for the years ended December 31, 2015, 2016 and 2017.

In December 2017, the Company completed its initial public offering in which the Company newly issued 2,156,250 Class A ordinary shares and all of the Company’s Series A, Series B, Series C, Series D, Series E preferred shares and redeemable ordinary shares were automatically converted into 10,268,077 Class A ordinary shares.

Immediately prior to the completion of IPO in December 2017, the Company redesignated 2,500,580 Class A ordinary shares held by Wing Hong Sammy Hsieh and 2,320,028 Class A ordinary shares held by Jian Tang into Class B ordinary shares on a one-for-one basis. The holders of Class A ordinary shares shall have one vote in respect of each Class A ordinary share held, the holders of Class B ordinary shares shall have twenty votes in respect of each Class B ordinary share held.

As of December 31, 2017, the Company is authorized to issue 100,000,000 shares of US$0.001 par value per ordinary share, out of which 80,000,000 shares are Class A ordinary shares and 20,000,000 shares are Class B ordinary shares.

Share-based compensation

12 Months Ended

Dec. 31, 2017

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Share-based compensation

18	Share-based compensation

(a)	Share option plan

The Company’s 2010 Share Option Plan provides for the grant of incentive share options to the Company’s employees, officers, directors or consultants. The Company’s board of directors administers the 2010 Share Option Plan, selects the individuals to whom options will be granted, determines the number of options to be granted, and the term and exercise price of each option.

During the years ended December 31, 2015, 2016 and 2017, the Company granted share options to non-employees, employees, officers and directors of the Group. These options were granted with exercise prices denominated in the US$, which is the functional currency of the Company. The table below sets forth information regarding share options granted over the years:


Grant Date	Number of shares		Term (year)		Vesting period (year)		Exercise price at grant date (US$)
January 1, 2015 (Note ii)		6,000		0.16		0.00		6.0000
January 1, 2015 (Note ii)		18,500		0.16		0.00		1.8227
January 1, 2015 (Note ii)		11,938		0.16		0.00		2.1669
January 1, 2015		206,845		10.01		4.00		8.1300
February 1, 2015 (Note i)		10,000		10.17		4.16		16.1700
June 30, 2015		36,000		10.01		4.00		16.1700
July 6, 2015		25,000		10.25		4.24		20.0000
July 6, 2015		15,000		11.25		5.24		20.0000
August 1, 2015 (Note iii)		58,058		10.01		1.67		0.3224
August 1, 2015 (Note iv)		25,308		10.01		1.75		0.4299
August 1, 2015 (Note v)		7,444		10.01		2.25		0.8598
August 1, 2015 (Note vi)		49,871		10.01		2.33		1.0748
August 1, 2015 (Note vii)		32,750		10.01		2.67		1.2897
August 1, 2015 (Note vii)		10,421		10.01		2.67		0.4299
August 1, 2015 (Note viii)		82,995		10.01		3.33		1.6122
August 1, 2015 (Note ix)		11,165		10.01		3.42		0.2687
August 1, 2015 (Note x)		78,156		10.01		3.67		2.6869
August 1, 2015 (Note xi)		147,007		10.01		3.83		4.0304
August 1, 2015 (Note xii)		21,884		10.01		4.00		5.3739
December 31, 2015		113,311		10.01		0.00		0.0100
April 1, 2016		32,200		10.25		4.00		20.0000
April 1, 2016		79,116		10.25		4.00		6.0000
July 1, 2016		10,000		10.00		4.00		20.0000
July 1, 2016		1,000		10.00		4.00		12.0000
January 1, 2017		4,400		10.01		4.00		20.0000
January 1, 2017		180,000		10.01		4.00		8.1290
January 1, 2017		100,800		10.01		4.00		8.1290
April 1, 2017		5,000		10.01		4.00		12.0000
July 1, 2017		12,000		8.51		2.50		8.1290

(i)

The Company modified certain terms of the options in 2016 previously granted which these modifications were related to either the vesting period or the exercise price. The incremental costs resulting from such modifications were assessed to be insignificant.

(ii)

These share options were granted to employees for their past services and immediately vested on grant date. The holders of the options are entitled to exercise the vested options during January 1, 2015 to February 28, 2015.

(iii)

58.33% of the options were vested on August 1, 2015 and the remaining 41.67% of the options are vested over a 1.67-year period starting from August 1, 2015 to March 31, 2017. The holders of the options are entitled to exercise the vested options during the first five business days of January, April, July and October until the expiration date — August 1, 2025 of the share options.

(iv)

56.25% of the options were vested on August 1, 2015 and the remaining 43.75% of the options are vested over a 1.75-year period starting from August 1, 2015 to April 30, 2017. The holders of the options are entitled to exercise the vested options during the first five business days of January, April, July and October until the expiration date — August 1, 2025 of the share options.

(v)

43.75% of the options were vested on August 1, 2015 and the remaining 56.25% of the options are vested over a 2.25-year period starting from August 1, 2015 to October 31, 2017. The holders of the options are entitled to exercise the vested options during the first five business days of January, April, July and October until the expiration date — August 1, 2025 of the share options.

(vi)

41.67% of the options were vested on August 1, 2015 and the remaining 58.3% of the options are vested over a 2.33-year period starting from August 1, 2015 to November 30, 2017. The holders of the options are entitled to exercise the vested options during the first five business days of January, April, July and October until the expiration date — August 1, 2025 of the share options.

(vii)

33.67% of the options were vested on August 1, 2015 and the remaining 66.33% of the options are vested over a 2.67-year period starting from August 1, 2015 to March 31, 2018. The holders of the options are entitled to exercise the vested options during the first five business days of January, April, July and October until the expiration date — August 1, 2025 of the share options.

(viii)

16.67% of the options were vested on August 1, 2015 and the remaining 83.33% of the options are vested over a 3.33-year period starting from August 1, 2015 to November 30, 2018. The holders of the options are entitled to exercise the vested options during the first five business days of January, April, July and October until the expiration date — August 1, 2025 of the share options.

(ix)

14.58% of the options were vested on August 1, 2015 and the remaining 85.42% of the options are vested over a 3.42-year period starting from August 1, 2015 to December 31, 2018. The holders of the options are entitled to exercise the vested options during the first five business days of January, April, July and October until the expiration date — August 1, 2025 of the share options.

(x)

8.33% of the options were vested on August 1, 2015 and the remaining 91.67% of the options are vested over a 3.67-year period starting from August 1, 2015 to March 31, 2019. The holders of the options are entitled to exercise the vested options during the first five business days of January, April, July and October until the expiration date — August 1, 2025 of the share options.

(xi)

4.17% of the options were vested on August 1, 2015 and the remaining 95.83% of the options are vested over a 3.83-year period starting from August 1, 2015 to May 31, 2019. The holders of the options are entitled to exercise the vested options during the first five business days of January, April, July and October until the expiration date — August 1, 2025 of the share options.

(xii)

The options are vested over a 4-year period starting from August 1, 2015 to May 31, 2019. The holders of the options are entitled to exercise the vested options during the first five business days of January, April, July and October until the expiration date — August 1, 2025 of the share options.

The following table summarizes the share option activity for the years ended December 31, 2016 and 2017:


	Number of shares			Weighted average exercise price $		Weighted average grant date fair value US$		Weighted average remaining contractual life years		Aggregate intrinsic value US$’000
At January 1, 2016		1,592,443			4.90				8.58		23,641
Granted		122,316			10.42		13.81
Exercised		(68,135	)		2.51
Forfeited		(154,439	)		7.14

At December 31, 2016		1,492,185			5.23				7.80		18,631

Vested and expected to vest at December 31, 2016		1,083,293			4.25		9.64		7.15		14,494
Exercisable to vest at December 31, 2016		928,597			3.68		10.77		7.44		12,615

At January 1, 2017		1,492,185			5.23				7.80		18,631
Granted		302,200			8.37		11.67
Exercised		(25,898	)		2.37
Forfeited		(225,911	)		7.34

At December 31, 2017		1,542,576			5.62				7.24		19,387

Vested and expected to vest at December 31, 2017		1,199,712			4.75		10.71		6.55		16,081
Exercisable to vest at December 31, 2017		1,118,812			4.72		11.35		6.87		15,035

Forfeitures are estimated at the time of grant. If necessary, forfeitures are revised in subsequent periods if actual forfeitures differ from those estimates. Based upon the Company’s historical and expected forfeitures for share options granted, the directors of the Company estimated that its future forfeiture rate would be 9% and 6% for employees and 0% and 23% for senior management in 2016 and 2017 respectively.

The aggregate intrinsic value in the table above represents the difference between the estimated fair value of the Company’s ordinary shares as of December 31, 2016 and 2017 and the exercise price.

All share-based payments to employees are measured based on their grant-date fair values. Compensation expense is recognized based on the vesting schedule over the requisite service period. Total fair values of options vested and recognized as expenses as of December 31, 2015, 2016 and 2017 were US$6,494, US$3,688 and US$ 3,681 respectively.

As of December 31, 2016 and 2017, there were 150,000 share options granted to certain employees which the vesting was subject to the earlier occurrence of any of the following events, either: the Company being approved to be listed on a stock exchange with an expected market capitalization of no less than US$500,000; or (ii) a merger or acquisition of the Company or any of its subsidiaries at a valuation of US$500,000 or above in which the shareholders of the Company shall no longer hold a majority of the outstanding shares of the surviving corporation. None of the options were vested as of December 31, 2016 and 2017.

As of December 31, 2016 and 2017, there were US$5,647 and US$4,666 of unrecognized share-based compensation expenses related to share options, which were expected to be recognized over a weighted-average vesting period of 2.20 and 2.04 years, respectively. To the extent the actual forfeiture rate is different from the Company’s estimate, the actual share-based compensation related to these awards may be different from the expectation.

The binomial option pricing model is used to determine the fair value of the share options granted to employees and non-employees. The fair values of share options granted during the years ended December 31, 2016 and 2017 were estimated using the following assumptions:


Grant Date	Risk-free interest rate (Note i)			Dividend yield (Note ii)			Volatility rate (Note iii)			Expected term (in years) (Note iv)
April 1, 2016		2.00	%		0	%		49.37	%		NA
July 1, 2016		1.62	%		0	%		50.52	%		NA
January 1, 2017		2.67	%		0	%		50.75	%		NA
April 1, 2017		2.59	%		0	%		50.79	%		NA
July 1, 2017		2.35	%		0	%		47.59	%		NA

Notes:

(i)

The risk-free interest rate of periods within the contractual life of the share option is based on the yield of US Treasury Strips sourced from Bloomberg as of the valuation dates.

(ii)

The Company has no history or expectation of paying dividends on its ordinary shares.

(iii)

Expected volatility is estimated based on the average of historical volatilities of the comparable companies in the same industry as at the valuation dates.

(iv)

The time to expire is assumed to be the option’s contractual term while early exercise multiples, being 2.2x and 2.8x for general staff and management staff, respectively, and post-vesting employment termination behavior have been factored into the model to derive the fair values of the share options.

(b)	Issuance of shares to certain employees with performance conditions

On December 28, 2016, the Company authorized and communicated the issuance of restricted ordinary shares of 1,068,114 and 801,086 of the Company to certain employees upon fulfillment of certain performance conditions (mainly financial performance related) for the fiscal years of 2017 and 2018, respectively and these employees have to be remained employed by the Company. Considering the likelihood of achieving the performance conditions are not probable as of December 31, 2017, no share-based compensation expense has been recorded. Total fair value of these shares were US$32,869. Significant factors, assumptions and methodologies used in determining the business valuation include applying the discounted cash flow approach, and such approach involves certain significant estimates. They are terminal growth rate of 3.0%, weighted average cost of capital of 18.3% and growth rate on average spending per customer ranges from 3.0% to 19.0%. In addition, none of these restricted ordinary shares were vested, forfeited, and expired during the year ended December 31, 2017.

(c)	Issuance of shares to certain employees

On December 28, 2016, the Company and three of the Company’s shareholders agreed to transfer a total of 998,338 shares of the Company’s ordinary shares held by them to certain employees of the Company at no cost for services previously provided for. The fair value of the shares transferred and the corresponding share-based compensation expense and additional paid in capital was US$17,555 and included in general and administrative expenses. In determining the fair value of shares of the Company transferred to these employees, a business valuation of the Company was performed by management with the assistance of an external valuer. Significant factors, assumptions and methodologies used in determining the business valuation include applying the discounted cash flow approach, and such approach involves certain significant estimates. They are terminal growth rate of 3.0%, weighted average cost of capital of 18.3% and growth rate on average spending per customer ranges from 3.0% to 19.0%.

Total compensation costs recognized for the years ended December 31, 2015, 2016 and 2017 are as follows:


	For the years ended December 31,
	2015		2016		2017
Cost of revenues		80		52		49
Research and development		1,526		985		937
Sales and marketing		4,099		2,160		2,179
General and administrative expenses		789		18,047		1,907

Total		6,494		21,244		5,072

Other gains/(losses), net

12 Months Ended

Dec. 31, 2017

Other Income and Expenses [Abstract]

Other gains/(losses), net

19	Other gains/(losses), net


	For the years ended December 31,
	2015			2016			2017
Fair value gain on re-measurement of previously held equity interests in Buzzinate (Note 4(a))		1,161			—			—
Net exchange (loss)/gain		(923	)		(1,147	)		1,257
Management fee income		375			—			—
Forfeiture of advances from customers		—			—			432
Others		178			65			152

Total		791			(1,082	)		1,841

Income tax

12 Months Ended

Dec. 31, 2017

Income Tax Disclosure [Abstract]

Income tax

20	Income tax

(i)	Cayman Islands

Under the current tax laws of Cayman Islands, the Company and its subsidiaries are not subject to tax on income or capital gains. Besides, upon payment of dividends by the Company to its shareholders, no Cayman Islands withholding tax will be imposed.

(ii)	Hong Kong profits tax

Entities incorporated in Hong Kong are subject to Hong Kong profits tax at a rate of 16.5% on the estimated assessable profit for the years ended December 31, 2015, 2016 and 2017.

(iii)

PRC Enterprise Income Tax (“EIT”)

The Company’s subsidiaries and VIEs in China are governed by the Enterprise Income Tax Law (“EIT Law”). Pursuant to the EIT Law and its implementation rules, enterprises in China are generally subjected to tax at a statutory rate of 25%.

In addition, according to the EIT Law and its implementation rules, foreign enterprises, which have no establishment or place in the PRC but derive dividends, interest, rents, royalties and other income (including capital gains) from sources in the PRC shall be subject to PRC withholding tax (“WHT”) at 10% (a further reduced WHT rate may be available according to the applicable double tax treaty or arrangement). The 10% WHT is applicable to any dividends to be distributed from the Group’s PRC subsidiaries to the Group’s overseas companies unless otherwise exempted pursuant to applicable tax treaties or tax arrangements between the PRC government and the government of other jurisdiction which the WHT is reduced to 5%.

Although there are undistributed earnings of the Company’s subsidiaries in the PRC that are available for distribution to the Company, the undistributed earnings of the Company’s subsidiaries located in the PRC are considered to be indefinitely reinvested, because the Group does not have any present plan to pay any cash dividends on its ordinary shares in the foreseeable future and intends to retain most of its available funds and any future earnings for use in the operation and expansion of its business. Accordingly, no deferred tax liability has been accrued for the Chinese dividend withholding taxes that would be payable upon the distribution of those amounts to the Company as of December 31, 2016 and 2017. The undistributed earnings from the Company’s subsidiaries in the PRC as of December 31, 2016 and 2017 amounted US$305 and US$330 would be due if these earnings were remitted as dividends as of December 31, 2016 and 2017. An estimated foreign withholding taxes of US$31 and US$17 would be due if these earnings were remitted as dividends as of December 31, 2016 and 2017, respectively.

Composition of income tax expense

The current and deferred portions of income tax expense included in the consolidated statements of comprehensive loss are as follows:


	For the years ended December 31,
	2015			2016			2017
Current income tax expense		737			1,283			1,262
Deferred tax benefits		(1,292	)		(1,061	)		(714	)

Income tax (benefit)/expense		(555	)		222			548

Deferred tax assets and liabilities

Deferred taxes were measured using the enacted tax rates for the periods in which they are expected to be reversed. The tax effects of temporary differences that give rise to the deferred tax asset balances as of December 31, 2016 and 2017 are as follows:


	As of December 31,
	2016			2017
Deferred tax assets
Tax losses carried forward		6,838			7,573
Share-based payments		682			850
Less: Valuation allowance (Note (a))		(6,838	)		(7,573	)

		682			850

Deferred tax liabilities
Acquired intangible assets		(3,677	)		(2,638	)
Outside basis difference (Note (b))		—			(486	)
Others		(28	)		(35	)

		(3,705	)		(3,159	)

Note:

(a)

Valuation allowance is provided against deferred tax assets when the Group determines that it is more likely than not that the deferred tax assets will not be utilized in the future. In making such determination, the Group considered factors including future taxable income exclusive of reversing temporary differences and tax loss carryforwards. Valuation allowance was provided for net operating loss carryforwards because it was more likely than not that such deferred tax assets will not be realized based on the Group’s estimate of its future taxable income. If events occur in the future that allow the Group to realize more of its deferred income tax than the presently recorded amounts, an adjustment to the valuation allowances will result in a decrease in tax expense when those events occur.

Movement of valuation allowance is as follows:


	For the years ended December 31,
	2016		2017
Beginning balance		5,804		6,838
Additions		1,034		735

Ending balance		6,838		7,573

(b)

The deferred tax liabilities are recorded for the undistributed earnings in the Group’s VIE and its subsidiary.

Tax loss carryforwards

As of December 31, 2016 and 2017, the Group had tax loss carryforwards of approximately US$28,201 and US$31,745, respectively, which can be carried forward to offset future taxable income. The net operating tax loss carryforwards will begin to expire as follows:


	As of December 31,
	2016		2017
2017		1,993		—
2018		1,630		1,717
2019		1,709		1,542
2020		12,344		7,235
2021		8,025		8,226
2022		—		8,751
Tax loss with no expiry		2,500		4,274

		28,201		31,745

In accordance with PRC Tax Administration Law on the Levying and Collection of Taxes, the PRC tax authorities generally have up to five years to claw back underpaid tax plus penalties and interest for PRC entities’ tax filings. In the case of tax evasion, which is not clearly defined in the law, there is no limitation on the tax years open for investigation. Accordingly, the PRC entities’ tax years from 2010 to 2016 remain subject to examination by the tax authorities. There were no ongoing examinations by tax authorities as of December 31, 2016 and 2017.

Reconciliation between the expense of income taxes computed by applying the statutory tax rate to loss before income taxes and the actual provision for income taxes is as follows:


	For the years ended December 31,
	2015			2016			2017
Tax benefit calculated at Hong Kong statutory tax rate (Note i)		(6,553	)		(4,509	)		(3,972	)
Effect of differences between Hong Kong statutory tax rate and foreign effective tax rates		(527	)		213			(1,172	)
Non-taxable other income		(448	)		(738	)		(275	)
Non-deductible expenses		4,684			4,208			4,861
Valuation allowance		2,342			1,034			735
Outside basis difference		—			—			486
Others		(53	)		14			(115	)

Income tax (benefit)/expense		(555	)		222			548

Note:

(i)

The Group’s major operation, prior to the acquisition of OptAim, was conducted out of Hong Kong. Accordingly, the Group prepared its tax rate reconciliation starting with the Hong Kong statutory tax rate.

Basic and diluted net loss per share

12 Months Ended

Dec. 31, 2017

Earnings Per Share [Abstract]

Basic and diluted net loss per share

21	Basic and diluted net loss per share

Basic and diluted net loss per share for the years ended December 31, 2015, 2016 and 2017 are calculated as follows:


	For the years ended December 31,
	2015			2016			2017
Numerator:
Net loss attributable to ordinary shareholders of the Company		(39,714	)		(27,330	)		(24,619	)
Accretion of convertible redeemable preferred shares redemption value		(2,692	)		(773	)		(1,662	)
Accretion to redeemable ordinary shares redemption value		(1,982	)		(1,556	)		(3,650	)
Deemed contribution from Series B-1 preferred shareholders		2,591			—			—

Numerator of basic net loss per share		(41,797	)		(29,659	)		(29,931	)

Denominator:
Denominator for basic and diluted net loss per share
- weighted average shares outstanding		11,661,049			13,151,063			13,931,503

Basic net loss per share		(3.58	)		(2.26	)		(2.15	)
Diluted net loss per share		(3.58	)		(2.26	)		(2.15	)

The Company’s preferred shares are participating securities and as such would be included in the calculation of basic earnings per share under the two-class method. According to the contractual terms of the preferred shares, the preferred shares do not have a contractual obligation to share in the losses of the Company. Therefore no loss was allocated to the preferred shares in the computation of basic loss per share for the years ended December 31, 2015, 2016 and 2017.

The preferred shares, share options and preferred share warrants were excluded from the computation of diluted net loss per ordinary share for the periods presented because including them would have had an anti-dilutive effect.

The following ordinary shares equivalent were excluded from the computation of diluted net loss per ordinary share for the periods presented because including them would have had an anti-dilutive effect:


	As of December 31,
	2015		2016		2017
Preferred shares - weighted average (thousands)		8,458		8,469		—
Share options - weighted average (thousands)		1,194		1,091		1,071
Redeemable ordinary shares - weighted average (thousands)		742		742		—

Segment

12 Months Ended

Dec. 31, 2017

Segment Reporting [Abstract]

Segment

22	Segment

The Company considers operating segments to be components of the Company in which separate financial information is available that is evaluated regularly by the Company’s chief operating decision maker in deciding how to allocate resources and in assessing performance. The chief operating decision maker for the Company is the Chief Executive Officer. The Chief Executive Officer reviews financial information presented on a consolidated basis for purposes of allocating resources and evaluating financial performance. The Company has one business activity, and there are no segment managers who are held accountable for operations, operating results or plans for levels or components below the consolidated unit level. Accordingly, the Company has determined that it has a single operating and reportable segment. Revenue generated for the respective countries are summarized as follows:


	For the years ended December 31,
	2015		2016		2017
PRC		30,505		71,214		105,380
Hong Kong		34,442		22,766		18,287
Others		295		1,377		1,591

		65,242		95,357		125,258

The Group’s long-lived assets are located in the following countries:


	As of December 31,
	2016		2017
PRC		1,666		858
Hong Kong		637		300
Others		15		7

		2,318		1,165

Commitments and contingencies

12 Months Ended

Dec. 31, 2017

Commitments and Contingencies Disclosure [Abstract]

Commitments and contingencies

23	Commitments and contingencies

(a)

Operating lease commitments

The Group leases facilities under non-cancellable operating leases expiring on different dates. The terms of substantially all of these leases are two years or less. Payments under operating leases are expensed on a straight-line basis over the periods of the respective leases.

Total office rental expenses under all operating leases were US$2,637, US$3,024 and US$1,862 for the years ended December 31, 2015, 2016 and 2017, respectively.

As of December 31, 2017, future minimum payments under non-cancellable operating leases for office rental consist of the following:


2018			1,796
2019			66

			1,862

(b)

Purchase commitments

As of December 31, 2016 and 2017, no purchase commitments were related to the purchase of space for its online marketing services.

(c)

Litigation

In the ordinary course of the business, the Group is subject to periodic legal or administrative proceedings. As of December 31, 2016 and 2017, the Group is not a party to any legal or administrative proceedings which will have a material adverse effect on the Group’s business, financial position, results of operations and cash flows.

Restricted net assets

12 Months Ended

Dec. 31, 2017

Receivables [Abstract]

Restricted net assets

24	Restricted net assets

Relevant PRC laws and regulations permit payments of dividends by the Group’s subsidiary and the VIE incorporated in the PRC only out of their retained earnings, if any, as determined in accordance with PRC accounting standards and regulations. In addition, the Group’s subsidiary and the VIE in the PRC are required to annually appropriate 10% of their net after-tax income to the statutory general reserve fund prior to payment of any dividends, unless such reserve funds have reached 50% of their respective registered capital. As a result of these and other restrictions under PRC laws and regulations, the Group’s subsidiary and the VIE subsidiary incorporated in the PRC are restricted in their ability to transfer a portion of their net assets to the Company either in the form of dividends, loans or advances. There are no significant differences between US GAAP and PRC accounting standards in connection with the reported net assets of the legally owned subsidiary in the PRC and the VIE. Even though the Company currently does not require any such dividends, loans or advances from the PRC entities for working capital and other funding purposes, the Company may in the future require additional cash resources from them due to changes in business conditions, to fund future acquisitions and development, or merely to declare and pay dividends or distributions to our shareholders. Except for the above, there is no other restriction on use of proceeds generated by the Group’s subsidiary and the VIE to satisfy any obligations of the Company.

As of December 31, 2016 and 2017, the total restricted net assets of the Company’s subsidiaries, OptAim VIE and its subsidiary incorporated in PRC and subjected to restriction amounted to approximately US$4,294 and US$9,631, respectively. Except for the above and the amounts classified as restricted cash of US$5,234 and US$nil as of December 31, 2016 and 2017, respectively, there is no other restriction on the use of proceeds generated by the Company’s subsidiaries, VIEs and VIE subsidiaries to satisfy any obligations of the Company.

Additional Information: Condensed Financial Statements of Parent Company

12 Months Ended

Dec. 31, 2017

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Additional Information: Condensed Financial Statements of Parent Company

ADDITIONAL INFORMATION: CONDENSED FINANCIAL STATEMENTS OF PARENT COMPANY

Rules 12-04(a) and 4-08(e)(3) of Regulation S-X require condensed financial information as to the financial position, cash flows and results of operations of a parent company as of and for the same periods for which the audited consolidated financial statements have been presented when the restricted net assets of the consolidated and unconsolidated subsidiaries together exceed 25% of consolidated net assets as of the end of the most recently completed fiscal year.

The following condensed financial statements of the Company have been prepared using the same accounting policies as set out in the Company’s consolidated financial statements except that the Company used the equity method to account for its investment in its subsidiaries and VIEs. Such investment is presented on the separate condensed balance sheets of the Company as “Investment in subsidiaries and VIEs” and “Accumulated losses in excess of investment in subsidiaries and VIEs.” The Company, its subsidiaries and VIEs were included in the consolidated financial statements whereby the inter-company balances and transactions were eliminated upon consolidation. The Company’s share of income from its subsidiaries and VIEs is reported as share of income from subsidiaries and VIEs in the condensed financial statements.

The Company is a Cayman Islands company and, therefore, is not subjected to income taxes for all years presented. The footnote disclosures contain supplemental information relating to the operations of the Company and, as such, these statements should be read in conjunction with the notes to the consolidated financial statements of the Company. Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted.

As of December 31, 2016 and 2017, there were no material commitments or contingencies, significant provisions for long-term obligations or guarantees of the Company, except for those which have been separately disclosed in the consolidated financial statements, if any.

Inter-company charges, share-based compensation and other miscellaneous expenses for the years ended December 31, 2015, 2016 and 2017, which were previously recognized at the parent company level, had been pushed down to the WFOE/VIE level given the majority of services were provided to the WFOE/VIE entities.

The condensed financial statements of the parent company should be read in conjunction with the Company’s consolidated financial statements and the accompanying notes thereto. For purposes of these condensed financial statements, the Company’s wholly owned and majority owned subsidiaries are recorded based upon its proportionate share of the subsidiaries’ net assets (similar to presenting them on the equity method).

iCLICK INTERACTIVE ASIA GROUP LIMITED

CONDENSED BALANCE SHEETS

AS OF DECEMBER 31, 2016 AND 2017

(US$’000, except share data and per share data, or otherwise noted)


	As of December 31,
	2016		2017
Assets
Current assets
Cash and cash equivalents		12,005		6,440
Amounts due from subsidiaries and VIEs		47,006		74,193
Other assets		15		1,194

Total current assets		59,026		81,827

Non-current asset
Investments in subsidiaries and VIEs		45,050		41,407

Total assets		104,076		123,234

Liabilities, mezzanine equity and shareholders’ (deficit)/equity
Current liabilities
Accrued liabilities and other current liabilities		1,012		3,250
Derivative liabilities		60,525		—
Amounts due to subsidiaries and VIEs		2,109		—

Total current liabilities		63,646		3,250

Non-current liability
Derivative liabilities		359		—

Total non-current liability		359		—

Total liabilities		64,005		3,250

Commitments and contingencies		—		—


	As of December 31,
	2016			2017
Mezzanine equity
Series A convertible redeemable preferred shares (US$0.001 par value; 2,500,000 shares authorized as of December 31, 2016; 2,476,190 shares issued and outstanding as of December 31, 2016; redemption amount of US$6,737 as of December 31, 2016; none issued and outstanding as of December 31, 2017)		5,597			—
Series B convertible redeemable preferred shares (US$0.001 par value; 3,000,000 shares authorized as of December 31, 2016; 1,889,249 shares issued and outstanding as of December 31, 2016; redemption amount of US$14,625 as of December 31, 2016; none issued and outstanding as of December 31, 2017)		9,807			—
Series C convertible redeemable preferred shares (US$0.001 par value; 1,650,000 shares authorized as of December 31, 2016; 1,599,186 shares issued and outstanding as of December 31, 2016; redemption amount of US$22,288 as of December 31, 2016; none issued and outstanding as of December 31, 2017)		10,733			—
Series D convertible redeemable preferred shares (US$0.001 par value; 4,500,000 shares authorized as of December 31, 2016; 2,493,018 shares issued and outstanding as of December 31, 2016; redemption amount of US$58,874 as of December 31, 2016; none issued and outstanding as of December 31, 2017)		43,956			—
Series E convertible redeemable preferred shares (US$0.001 par value; 1,200,000 shares authorized as of December 31, 2016; 1,068,114 shares issued and outstanding as of December 31, 2016; redemption amount of US$20,000 as of December 31, 2016; none issued and outstanding as of December 31, 2017)		18,845			—
Redeemable ordinary shares (US$0.001 par value; 742,320 shares issued and outstanding as of December 31, 2016; none issued and outstanding as of December 31, 2017)		15,445			—

Total mezzanine equity		104,383			—

Shareholders’ (deficit)/equity
Ordinary shares		14			26
Treasury shares		(2,468	)		(2,093	)
Other shareholders’ (deficit)/equity		(61,858	)		122,051

Total shareholders’ (deficit)/equity		(64,312	)		119,984

Total liabilities, mezzanine equity and shareholders’ (deficit)/equity		104,076			123,234

iCLICK INTERACTIVE ASIA GROUP LIMITED

CONDENSED STATEMENTS OF COMPREHENSIVE LOSS

FOR THE YEARS ENDED DECEMBER 31, 2015, 2016 AND 2017

(US$’000, except share data and per share data, or otherwise noted)


	For the years ended December 31,
	2015			2016			2017
Operating expenses
General and administrative expenses		(7,455	)		(21,655	)		(6,928	)

Total operating expenses		(7,455	)		(21,655	)		(6,928	)

Operating loss
Other gains, net		101			145			(116	)
Fair value (loss)/gain on derivative liabilities		(19,390	)		3,995			(10,190	)

Loss from subsidiaries and VIEs		(12,970	)		(9,815	)		(7,385	)

Loss before income tax expense		(39,714	)		(27,330	)		(24,619	)

Income tax expense		—			—			—

Net loss		(39,714	)		(27,330	)		(24,619	)

Accretion to convertible redeemable preferred shares redemption value		(2,692	)		(773	)		(1,662	)
Accretion to redeemable ordinary shares redemption value		(1,982	)		(1,556	)		(3,650	)

Net loss attributable to iClick Interactive Asia Group Limited’s ordinary shareholders		(44,388	)		(29,659	)		(29,931	)

Net loss		(39,714	)		(27,330	)		(24,619	)
Other comprehensive loss:
Foreign currency translation adjustment, net of tax		(129	)		(139	)		(79	)

Comprehensive loss attributable to iClick Interactive Asia Group Limited		(39,843	)		(27,469	)		(24,698	)

CONDENSED STATEMENTS OF CASH FLOWS

FOR THE YEARS ENDED DECEMBER 31, 2015, 2016 AND 2017


	For the years ended December 31,
	2015			2016			2017
Cash flows from operating activities:
Net cash used in operating activities		(86,738	)		(8,083	)		(34,030	)

Cash flows from financing activities:
Proceeds from issuance of Series E convertible redeemable preferred shares		—			20,000			—
Proceeds from exercise of share options		284			171			60
Net proceeds from issuance of ordinary shares upon IPO		—			—			28,405
Others		2,210			—			—

Net cash from financing activities		2,494			20,171			28,465

Net (decrease)/increase in cash and cash equivalents		(84,244	)		12,088			(5,565	)

Principal accounting policies (Policies)

12 Months Ended

Dec. 31, 2017

Accounting Policies [Abstract]

Basis of presentation

(a)

Basis of presentation

Use of estimates

(b)

Use of estimates

Consolidation

(c)

Consolidation

Foreign currency translation

(d)

Foreign currency translation

Fair value of financial instruments

(e)

Fair value of financial instruments

Level 1 — Quoted prices (unadjusted) in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date.

Level 3 — Unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of the assets or liabilities.

Cash and cash equivalents

(f)

Cash and cash equivalents

Time deposit

(g)

Time deposit

Restricted Cash

(h)

Restricted Cash

Accounts receivable, net

(i)

Accounts receivable, net

Rebates receivable

(j)

Rebates receivable

Equity method investment

(k)

Equity method investment

Property and equipment, net

(l)

Property and equipment, net


Leasehold improvements		Over the shorter of lease term or 2 - 5 years
Furniture and fixtures		2 - 5 years
Office equipment		3 - 5 years

Business combinations

(m)

Business combinations

Intangible assets, net

(n)

Intangible assets, net

Computer software and systems 2 - 5 years

Impairment of long-lived assets and intangible assets

(o)

Impairment of long-lived assets and intangible assets

Goodwill

(p)

Goodwill

Goodwill represents the excess of the purchase price over the amounts assigned to the fair value of the assets acquired and the liabilities assumed of an acquired business.

Impairment of goodwill

(q)

Impairment of goodwill

Deferred revenue

(r)

Deferred revenue

Derivative financial instruments

(s)

Derivative financial instruments

Revenue recognition and cost of revenues

(t)

Revenue recognition and cost of revenues

Sales agent

Cost-plus

Specified actions

Rebates

(u)

Rebates

Prepaid media costs

(v)

Prepaid media costs

Research and development expenses

(w)

Research and development expenses

Sales and marketing expenses

(x)

Sales and marketing expenses

General and administrative expenses

(y)

General and administrative expenses

Operating leases

(z)

Operating leases

Employee social security and welfare benefits

(aa)

Employee social security and welfare benefits

The Group also makes payments to other defined contribution plans for employees employed by subsidiaries outside the PRC.

Income taxes

(ab)

Income taxes

Uncertain tax positions

Share-based compensation

(ac)

Share-based compensation

Option granted to employees

Option modification

Option granted to non-employees

For share-based awards granted to non-employees, the Group accounts for the related share-based compensation expenses in accordance with ASC subtopic, 505-50 (“ASC 505-50”), Equity-Based Payments to Non-Employees. Under the provision of ASC 505-50, options of the Company issued to non-employees are measured based on fair value of the options which are determined by using the binomial option pricing model. These options are measured as of the earlier of the date at which either: (1) commitment for performance by the non-employee has been reached; or (2) the non-employee’s performance is complete.

Statutory reserves

(ad)

Statutory reserves

There are no legal requirements in the PRC to fund these reserves by transfer of cash to restricted accounts, and the Group was not done so.

Related parties

(ae)

Related parties

Dividends

(af)

Dividends

Loss per share

(ag)

Loss per share

Comprehensive loss

(ah)

Comprehensive loss

Comprehensive loss is reported in the consolidated statements of comprehensive loss. Accumulated other comprehensive losses of the Group include the foreign currency translation adjustments.

Segment reporting

(ai)

Segment reporting

Recently issued accounting pronouncements

(aj)

Recently issued accounting pronouncements

Organization and principal activities (Tables)

12 Months Ended

Dec. 31, 2017

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Summary of Subsidiaries of Company and Consolidated Variable Interest Entities

Name

Relationship

% of direct

or indirect
economic
ownership

Date of

incorporation

Place of

incorporation/

establishment

Principal activities

Digital Marketing Group Limited

Subsidiary

100

October 2006

Hong Kong

Dormant

Tetris Media Limited

Subsidiary

100

July 2007

Hong Kong

Internet marketing

services and solutions

iClick Interactive Asia Limited

Subsidiary

100

December 2008

Hong Kong

Internet marketing

services and solutions

Optimix Media Asia Limited

Subsidiary

100

March 2009

Hong Kong

Investment holding

China Search (Asia) Limited

Subsidiary

100

September 2010

Hong Kong

Internet marketing

services and solutions

Diablo Holdings Corporation

Subsidiary

100

August 2010

British Virgin Islands (“BVI”)

Investment holding

Harmattan Capital Holdings Corporation

Subsidiary

100

August 2010

BVI

Investment holding

iClick Interactive (Singapore) Pte. Ltd.

Subsidiary

100

January 2011

Singapore

Internet marketing

services and solutions

Name

Relationship

% of direct

or indirect
economic
ownership

Date of

incorporation

Place of

incorporation/

establishment

Principal activities

iClick Interactive (Beijing) Advertisement Co., Ltd

Subsidiary

100

January 2011

The PRC

Internet marketing

services and solutions

Search Asia Technology (Shenzhen) Co., Ltd.

Subsidiary

100

January 2011

The PRC

Internet marketing

services and solutions

i-Click Interactive Taiwan Limited Taiwan Branch

Subsidiary’s
branch

100

September 2011

Taiwan

Internet marketing

services and solutions

Performance Media Group Limited

Subsidiary

100

January 2013

Hong Kong

Internet marketing

services and solutions

Tetris Media (Shanghai) Co., Ltd.

Subsidiary

100

July 2013

The PRC

Internet marketing

services and solutions

Buzzinate Company Limited

Subsidiary

100

March 2009

Hong Kong

Technology

development

Buzzinate (Shanghai) Information Technology Co., Ltd.

Subsidiary

100

July 2009

The PRC

Technology

development service

OptAim Limited

Subsidiary

100

July 2014

Cayman Islands

Investment holding

OptAim (HK) Limited

Subsidiary

100

July 2014

Hong Kong

Investment holding

OptAim (Beijing) Information Technology Co., Ltd.

Subsidiary

100

November 2014

The PRC

Internet marketing

services and solutions

Anhui Zhiyunzhong Information Technology Co., Ltd.

Subsidiary

100

November 2017

The PRC

Internet marketing

services and solutions

Beijing OptAim Network Technology Co., Ltd.

VIE

100

September 2012

The PRC

Internet marketing

services and solutions

Zhiyunzhong (Shanghai) Technology Co., Ltd.

VIE’s

subsidiary

100

September 2014

The PRC

Internet marketing

services and solutions

Arda Holdings Limited

VIE

100

May 2010

BVI

To hold treasury shares

Principal accounting policies (Tables)

12 Months Ended

Dec. 31, 2017

Accounting Policies [Abstract]

Summary of Estimated Useful Lives of Property and Equipment


Leasehold improvements		Over the shorter of lease term or 2 - 5 years
Furniture and fixtures		2 - 5 years
Office equipment		3 - 5 years

Summary of Estimated Useful Lives of Intangible Assets

Amortization of finite lived intangible assets is computed using the straight-line method over the following estimated useful lives, which are as follows:

Computer software and systems 2 - 5 years

Certain risks and concentration (Tables)

12 Months Ended

Dec. 31, 2017

Risks and Uncertainties [Abstract]

Schedule of Financial Information of VIEs and its subsidiary Excluding Intercompany Items with Company's Subsidiaries


	As of December 31,
	2016		2017
Assets
Current assets
Cash and cash equivalents		1,046		1,585
Accounts receivable, net		8,129		5,553
Other current assets		17,761		552

Total current assets		26,936		7,690

Non-current assets
Property and equipment, net		36		14
Other non-current assets		163		163

Total non-current assets		199		177

Total assets		27,135		7,867

Liabilities
Current liabilities
Accounts payable		28		29
Deferred revenue		11,878		5,986
Accrued liabilities and other current liabilities		404		804

Total current liabilities		12,310		6,819

Total liabilities		12,310		6,819


	For the years ended December 31,
	2015			2016			2017
Net revenues		11,653			52,215			25,302
Net (loss)/profit		(172	)		(322	)		1,646


	For the years ended December 31,
	2015			2016			2017
Net cash (used in)/provided by operating activities		(1,144	)		1,043			539
Net cash used in investing activities		(19	)		(3	)		—

Net (decrease)/increase in cash and cash equivalents		(1,163	)		1,040			539

Schedule of Estimated Fair Values of Financial Assets and Liabilities

The estimated fair values of the Company’s financial assets and liabilities classified under the appropriate level of the fair value hierarchy as described above was as follows:


	Fair value measurements using
	Total fair value		Quoted prices in active market for identical assets (Level 1)		Significant other observable inputs (Level 2)		Significant Unobservable inputs (Level 3)
As of December 31, 2016
Cash and cash equivalents		27,280		27,280		—		—
Restricted cash		5,234		5,234		—		—
Bank borrowings		12,982		—		12,982		—
Derivative liabilities		60,525		—		—		60,525

As of December 31, 2017
Cash and cash equivalents		19,401		19,401		—		—
Time deposit		25,000		25,000		—		—
Bank borrowings		10,486		—		10,486		—

- Definition

Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances.

+ References + Details

- Definition

Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide.

+ References + Details

Business Acquisition (Tables)

12 Months Ended

Dec. 31, 2017

Buzzinate Company Limited [Member]

Schedule of Movement of Carrying Value of Equity Method Investment

The movement of carrying value of the equity method investment in Buzzinate from January 1, 2015 to February 13, 2015 (the “period”) is as follows:


Balance at beginning of the period	533
Share of loss of equity investee for the period	(38	)

Balance at February 13, 2015	495
Fair value gain on re-measurement of equity investee	1,161

	1,656

Schedule of Fair value of Consideration Transferred

Fair value of consideration transferred:


Cash			1,250
Ordinary shares of the Company			2,027

Total			3,277

Fair value of previously held interest in Buzzinate			1,656

Schedule of Recognized Amounts of Identifiable Assets Acquired and Liabilities Assumed

Recognized amounts of identifiable assets acquired and liabilities assumed:


Cash	1,439
Other current assets	207
Property and equipment	375
Intangible asset	644
Current liabilities	(529	)
Deferred tax liabilities	(161	)

Total identifiable net assets acquired	1,975

Goodwill (Note 11)	2,958

Total purchase consideration, net of cash acquired	3,494

Schedule of Estimated Amounts Recognized on Acquired Identifiable Intangible Asset and its Estimated Useful Life

The estimated amounts recognized on the acquired identifiable intangible asset and its estimated useful life are shown in the following table:

OptAim Limited [Member]

Schedule of Fair value of Consideration Transferred

Fair value of consideration transferred:


Cash			15,976
Ordinary shares of the Company			50,843
Fair value of replacement awards attributable to pre-acquisition services			801

			67,620

Schedule of Recognized Amounts of Identifiable Assets Acquired and Liabilities Assumed

Recognized amounts of identifiable assets acquired and liabilities assumed:


Cash	1,301
Other current assets	13,193
Property and equipment	84
Intangible asset	20,100
Current liabilities	(7,571	)
Deferred tax liabilities	(5,025	)

Total identifiable net assets acquired	22,082

Goodwill (Note 11)	45,538

Total purchase consideration, net of cash acquired	50,343

Schedule of Estimated Amounts Recognized on Acquired Identifiable Intangible Asset and its Estimated Useful Life

The estimated amounts recognized on the acquired identifiable intangible asset and its estimated useful life are shown in the following table:


	Estimated useful life		Gross carrying amount
A self-developed computer software and systems		5 years		20,100

Schedule of Unaudited Pro Forma Operating Results

Unaudited pro forma operating results for the Company, assuming the acquisition of OptAim occurred on January 1, 2015 is as follows:


	For the year ended December 31, 2015
Net revenues		69,025
Net loss		(39,688	)
Net loss per share		(3.80	)
Diluted loss per share		(3.80	)

Cash and cash equivalents and time deposit (Tables)

12 Months Ended

Dec. 31, 2017

Cash and Cash Equivalents [Abstract]

Schedule of Cash on Hand and Cash Held at Bank

Cash on hand and cash held at bank balance as of December 31, 2016 and 2017 primarily consist of the following currencies:


	As of December 31,
	2016				2017
	Amount		equivalent		Amount		equivalent
RMB		67,697		9,771		50,600		7,694
HK$		15,666		2,019		18,099		2,332
US$		15,064		15,064		33,639		33,639
SGD		235		165		432		323
TWD		2,855		88		7,014		235
Euro (“EUR”)		125		133		106		126
Others		292		40		67		52

				27,280				44,401

Accounts receivable, net (Tables)

12 Months Ended

Dec. 31, 2017

Receivables [Abstract]

Summary of Accounts Receivable

2016		2017
Accounts receivable, gross	32,387		42,276
Less: allowance for doubtful accounts	(1,693	)	(1,478	)

Accounts receivable, net	30,694		40,798

Summary of Movement in Allowance for Doubtful Accounts

The following table presents the movement in the allowance for doubtful accounts:


	For the years ended December 31,
	2016			2017
Balance at the beginning of year		1,733			1,693
Additions for the year		99			910
Recoveries		—			(40	)
Accounts receivable written off		(99	)		(1,134	)
Exchange differences		(40	)		49

Balance at the end of year		1,693			1,478

Other assets (Tables)

12 Months Ended

Dec. 31, 2017

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Summary of Other Assets

The other assets consist of the following:


	As of December 31,
	2016		2017
Current
Deposits		2,202		2,248
Prepayments		417		266
VAT receivable		372		379
Others		64		214

		3,055		3,107

Non-current
Prepayment for acquisition of fixed assets		122		—
Rental deposits		249		284

		371		284

Property and equipment, net (Tables)

12 Months Ended

Dec. 31, 2017

Property, Plant and Equipment [Abstract]

Summary of Property and Equipment

Property and equipment consist of the following:


	As of December 31,
	2016			2017
Cost:
Office equipment		4,629			4,661
Leasehold improvements		1,653			1,763
Furniture and fixtures		747			753

Total cost		7,029			7,177
Less: Accumulated depreciation		(4,519	)		(5,882	)
Exchange differences		(192	)		(130	)

Property and equipment, net		2,318			1,165

Summary of Depreciation Expense Recognized

Depreciation expense recognized for the years ended December 31, 2015, 2016 and 2017 are summarized as follows:


	For the years ended December 31,
	2015		2016		2017
Cost of revenues		9		11		6
Research and development		161		199		108
Sales and marketing expenses		662		838		582
General and administrative expenses		306		464		667

Total		1,138		1,512		1,363

Intangible assets, net (Tables)

12 Months Ended

Dec. 31, 2017

Goodwill and Intangible Assets Disclosure [Abstract]

Summary of Intangible assets

Intangible assets consist of the following:


	As of December 31,
	2016			2017
Cost:
Computer software		21,576			21,593
Less: Accumulated amortization
Computer software		(6,773	)		(10,994	)
Exchange differences		1			1

Intangible assets, net		14,804			10,600

Summary of Amortization Expense Recognized

Amortization expense recognized for the years ended December 31, 2015, 2016 and 2017 are summarized as follows:


	For the years ended December 31,
	2015		2016		2017
Cost of revenues		1,874		4,149		4,147
Research and development		30		28		3
Sales and marketing expenses		16		19		17
General and administrative expenses		123		116		54

		2,043		4,312		4,221

Summary of Estimated Aggregate Amortization Expense

The estimated aggregate amortization expense for each of the next five years as of December 31, 2017 is:


	Computer software
2018		4,168
2019		4,149
2020		2,283
2021		—
2022		—

		10,600

Goodwill (Tables)

12 Months Ended

Dec. 31, 2017

Goodwill and Intangible Assets Disclosure [Abstract]

Summary of Movements on Goodwill

Movements on goodwill during the year were as follows:


	Buzzinate		OptAim		Total
Balance as of January 1, 2016, December 31, 2016 and 2017		2,958		45,538		48,496

Deferred revenue (Tables)

12 Months Ended

Dec. 31, 2017

Revenue Recognition and Deferred Revenue [Abstract]

Summary of Deferred Revenue


	As of December 31,
	2016		2017
Deferred revenue, current		25,697		33,037

Accrued liabilities and other current liabilities (Tables)

12 Months Ended

Dec. 31, 2017

Payables and Accruals [Abstract]

Summary of Accrued Liabilities and Other Current Liabilities


	As of December 31,
	2016		2017
Rebates payable to customers		5,214		3,257
VAT and other taxes payable		1,679		2,659
Security deposit received from customers		772		686
Accrued employee benefits		3,257		2,741
Accrued professional fees		1,544		4,167
Accrued marketing and hosting expense		1,424		1,831
Others		1,201		788

		15,091		16,129

Bank borrowings (Tables)

12 Months Ended

Dec. 31, 2017

Debt Disclosure [Abstract]

Summary of Bank Borrowings

As of December 31,
	2016		2017
1-year revolving loan denominated in RMB (Note (i), (vii))		4,330		7,603
1-year revolving loan denominated in US$ (Note (ii), (vii))		2,950		2,800
2-year demand loan agreement denominated in US$ (Note (iii), (vii))		1,083		83
6-month revolving loan denominated in RMB (Note (iv))		1,444		—
1-year revolving loan denominated in RMB (Note (v), (vii))		1,732		—
3-month loan denominated in RMB (Note (vi), (vii))		1,443		—

		12,982		10,486

Note:

(i)

(ii)

(iii)

(iv)

(v)

(vi)

(vii)

(viii)

Redeemable convertible preferred shares (Tables)

12 Months Ended

Dec. 31, 2017

Equity [Abstract]

Fair Values of Conversion Features and Redemption Features Which Required to Be Bifurcated and Accounted for as Derivative Liabilities

As of December 31, 2016, the fair values of these conversion features and redemption features which required to be bifurcated and accounted for as derivative liabilities are as follows:


	As of December 31,
	2016
Financial derivatives - conversion features		56,916
Financial derivatives - redemption features		3,968

		60,884
Less: current portion		(60,525	)

Non-current portion		359

Schedule of Significant Estimates Used to Calculate Fair Value of Preferred Shares for Determining Conversion Feature and Redemption Feature


	As of December 31,
	2016
Terminal growth rate		3.0%
Weighted average cost of capital		18.3%
Growth rate on average spending per customer		3.0% - 19.0%

Series A


	Years ended December 31,
	2016		2017
Beginning balance		5,487		5,597
Accretion to redemption value		110		235
Conversion to Class A ordinary shares		—		(5,832	)

Ending balance		5,597		—

Series B


	Years ended December 31,
	2016		2017
Beginning balance		9,145		9,807
Accretion to redemption value		662		1,427
Conversion to Class A ordinary shares		—		(11,234	)

Ending balance		9,807		—

Series C


	Years ended December 31,
	2016		2017
Beginning balance		10,733		10,733
Conversion to Class A ordinary shares		—		(10,733	)

Ending balance		10,733		—

Series D


	Years ended December 31,
	2016		2017
Beginning balance		43,956		43,956
Gain from wavier on anti-dilution		—		(632	)
Conversion to Class A ordinary shares		—		(43,324	)

Ending balance		43,956		—

Series E


	Years ended December 31,
	2016		2017
Beginning balance		—		18,845
Issuance of preferred shares		18,845		—
Conversion to Class A ordinary shares		—		(18,845	)

Ending balance		18,845		—

Share-based compensation (Tables)

12 Months Ended

Dec. 31, 2017

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Summary of Share Options Granted


Grant Date	Number of shares		Term (year)		Vesting period (year)		Exercise price at grant date (US$)
January 1, 2015 (Note ii)		6,000		0.16		0.00		6.0000
January 1, 2015 (Note ii)		18,500		0.16		0.00		1.8227
January 1, 2015 (Note ii)		11,938		0.16		0.00		2.1669
January 1, 2015		206,845		10.01		4.00		8.1300
February 1, 2015 (Note i)		10,000		10.17		4.16		16.1700
June 30, 2015		36,000		10.01		4.00		16.1700
July 6, 2015		25,000		10.25		4.24		20.0000
July 6, 2015		15,000		11.25		5.24		20.0000
August 1, 2015 (Note iii)		58,058		10.01		1.67		0.3224
August 1, 2015 (Note iv)		25,308		10.01		1.75		0.4299
August 1, 2015 (Note v)		7,444		10.01		2.25		0.8598
August 1, 2015 (Note vi)		49,871		10.01		2.33		1.0748
August 1, 2015 (Note vii)		32,750		10.01		2.67		1.2897
August 1, 2015 (Note vii)		10,421		10.01		2.67		0.4299
August 1, 2015 (Note viii)		82,995		10.01		3.33		1.6122
August 1, 2015 (Note ix)		11,165		10.01		3.42		0.2687
August 1, 2015 (Note x)		78,156		10.01		3.67		2.6869
August 1, 2015 (Note xi)		147,007		10.01		3.83		4.0304
August 1, 2015 (Note xii)		21,884		10.01		4.00		5.3739
December 31, 2015		113,311		10.01		0.00		0.0100
April 1, 2016		32,200		10.25		4.00		20.0000
April 1, 2016		79,116		10.25		4.00		6.0000
July 1, 2016		10,000		10.00		4.00		20.0000
July 1, 2016		1,000		10.00		4.00		12.0000
January 1, 2017		4,400		10.01		4.00		20.0000
January 1, 2017		180,000		10.01		4.00		8.1290
January 1, 2017		100,800		10.01		4.00		8.1290
April 1, 2017		5,000		10.01		4.00		12.0000
July 1, 2017		12,000		8.51		2.50		8.1290

(i)

(ii)

(iii)

(iv)

(v)

(vi)

(vii)

(viii)

(ix)

(x)

(xi)

(xii)

Summary of Share Option Activity

The following table summarizes the share option activity for the years ended December 31, 2016 and 2017:


	Number of shares			Weighted average exercise price $		Weighted average grant date fair value US$		Weighted average remaining contractual life years		Aggregate intrinsic value US$’000
At January 1, 2016		1,592,443			4.90				8.58		23,641
Granted		122,316			10.42		13.81
Exercised		(68,135	)		2.51
Forfeited		(154,439	)		7.14

At December 31, 2016		1,492,185			5.23				7.80		18,631

Vested and expected to vest at December 31, 2016		1,083,293			4.25		9.64		7.15		14,494
Exercisable to vest at December 31, 2016		928,597			3.68		10.77		7.44		12,615

At January 1, 2017		1,492,185			5.23				7.80		18,631
Granted		302,200			8.37		11.67
Exercised		(25,898	)		2.37
Forfeited		(225,911	)		7.34

At December 31, 2017		1,542,576			5.62				7.24		19,387

Vested and expected to vest at December 31, 2017		1,199,712			4.75		10.71		6.55		16,081
Exercisable to vest at December 31, 2017		1,118,812			4.72		11.35		6.87		15,035

Summary of Fair Values of Share Options Granted


Grant Date	Risk-free interest rate (Note i)			Dividend yield (Note ii)			Volatility rate (Note iii)			Expected term (in years) (Note iv)
April 1, 2016		2.00	%		0	%		49.37	%		NA
July 1, 2016		1.62	%		0	%		50.52	%		NA
January 1, 2017		2.67	%		0	%		50.75	%		NA
April 1, 2017		2.59	%		0	%		50.79	%		NA
July 1, 2017		2.35	%		0	%		47.59	%		NA

Notes:

(i)

The risk-free interest rate of periods within the contractual life of the share option is based on the yield of US Treasury Strips sourced from Bloomberg as of the valuation dates.

(ii)

The Company has no history or expectation of paying dividends on its ordinary shares.

(iii)

Expected volatility is estimated based on the average of historical volatilities of the comparable companies in the same industry as at the valuation dates.

(iv)

Summary of Compensation Costs Recognized

Total compensation costs recognized for the years ended December 31, 2015, 2016 and 2017 are as follows:


	For the years ended December 31,
	2015		2016		2017
Cost of revenues		80		52		49
Research and development		1,526		985		937
Sales and marketing		4,099		2,160		2,179
General and administrative expenses		789		18,047		1,907

Total		6,494		21,244		5,072

Other gains/(losses), net (Tables)

12 Months Ended

Dec. 31, 2017

Other Income and Expenses [Abstract]

Tabular Disclosure of Gain (Loss) Related to Nonoperating Activities, Classified as Other


	For the years ended December 31,
	2015			2016			2017
Fair value gain on re-measurement of previously held equity interests in Buzzinate (Note 4(a))		1,161			—			—
Net exchange (loss)/gain		(923	)		(1,147	)		1,257
Management fee income		375			—			—
Forfeiture of advances from customers		—			—			432
Others		178			65			152

Total		791			(1,082	)		1,841

Income tax (Tables)

12 Months Ended

Dec. 31, 2017

Income Tax Disclosure [Abstract]

Disclosure of Current and Deferred Portions of Income Tax Expense

The current and deferred portions of income tax expense included in the consolidated statements of comprehensive loss are as follows:


	For the years ended December 31,
	2015			2016			2017
Current income tax expense		737			1,283			1,262
Deferred tax benefits		(1,292	)		(1,061	)		(714	)

Income tax (benefit)/expense		(555	)		222			548

Disclosure of Deferred Tax Assets and Liabilities


	As of December 31,
	2016			2017
Deferred tax assets
Tax losses carried forward		6,838			7,573
Share-based payments		682			850
Less: Valuation allowance (Note (a))		(6,838	)		(7,573	)

		682			850

Deferred tax liabilities
Acquired intangible assets		(3,677	)		(2,638	)
Outside basis difference (Note (b))		—			(486	)
Others		(28	)		(35	)

		(3,705	)		(3,159	)

Note:

(a)

(b)

The deferred tax liabilities are recorded for the undistributed earnings in the Group’s VIE and its subsidiary.

Disclosure of Movement of Valuation Allowance

Movement of valuation allowance is as follows:


	For the years ended December 31,
	2016		2017
Beginning balance		5,804		6,838
Additions		1,034		735

Ending balance		6,838		7,573

Disclosure of Operating Tax Loss Carry Forwards Expiring Years


	As of December 31,
	2016		2017
2017		1,993		—
2018		1,630		1,717
2019		1,709		1,542
2020		12,344		7,235
2021		8,025		8,226
2022		—		8,751
Tax loss with no expiry		2,500		4,274

		28,201		31,745

Disclosure of Reconciliation Between Expense of Income Taxes

Reconciliation between the expense of income taxes computed by applying the statutory tax rate to loss before income taxes and the actual provision for income taxes is as follows:


	For the years ended December 31,
	2015			2016			2017
Tax benefit calculated at Hong Kong statutory tax rate (Note i)		(6,553	)		(4,509	)		(3,972	)
Effect of differences between Hong Kong statutory tax rate and foreign effective tax rates		(527	)		213			(1,172	)
Non-taxable other income		(448	)		(738	)		(275	)
Non-deductible expenses		4,684			4,208			4,861
Valuation allowance		2,342			1,034			735
Outside basis difference		—			—			486
Others		(53	)		14			(115	)

Income tax (benefit)/expense		(555	)		222			548

Note:

(i)

Basic and diluted net loss per share (Tables)

12 Months Ended

Dec. 31, 2017

Earnings Per Share [Abstract]

Summary of Basic and Diluted Net Loss Per Share

Basic and diluted net loss per share for the years ended December 31, 2015, 2016 and 2017 are calculated as follows:


	For the years ended December 31,
	2015			2016			2017
Numerator:
Net loss attributable to ordinary shareholders of the Company		(39,714	)		(27,330	)		(24,619	)
Accretion of convertible redeemable preferred shares redemption value		(2,692	)		(773	)		(1,662	)
Accretion to redeemable ordinary shares redemption value		(1,982	)		(1,556	)		(3,650	)
Deemed contribution from Series B-1 preferred shareholders		2,591			—			—

Numerator of basic net loss per share		(41,797	)		(29,659	)		(29,931	)

Denominator:
Denominator for basic and diluted net loss per share
- weighted average shares outstanding		11,661,049			13,151,063			13,931,503

Basic net loss per share		(3.58	)		(2.26	)		(2.15	)
Diluted net loss per share		(3.58	)		(2.26	)		(2.15	)

Computation of Diluted Net Loss Per Ordinary Share


	As of December 31,
	2015		2016		2017
Preferred shares - weighted average (thousands)		8,458		8,469		—
Share options - weighted average (thousands)		1,194		1,091		1,071
Redeemable ordinary shares - weighted average (thousands)		742		742		—

Segment (Tables)

12 Months Ended

Dec. 31, 2017

Segment Reporting [Abstract]

Summary of Revenue Generated for the Respective Countries

Revenue generated for the respective countries are summarized as follows:


	For the years ended December 31,
	2015		2016		2017
PRC		30,505		71,214		105,380
Hong Kong		34,442		22,766		18,287
Others		295		1,377		1,591

		65,242		95,357		125,258

Summary of Long-Lived Assets

The Group’s long-lived assets are located in the following countries:


	As of December 31,
	2016		2017
PRC		1,666		858
Hong Kong		637		300
Others		15		7

		2,318		1,165

Commitments and contingencies (Tables)

12 Months Ended

Dec. 31, 2017

Commitments and Contingencies Disclosure [Abstract]

Summary of Operating Leases for Office Rental

As of December 31, 2017, future minimum payments under non-cancellable operating leases for office rental consist of the following:


2018			1,796
2019			66

			1,862

Additional Information: Condensed Financial Statements of Parent Company (Tables)

12 Months Ended

Dec. 31, 2017

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Summary of Condensed Balance Sheets

CONDENSED BALANCE SHEETS

AS OF DECEMBER 31, 2016 AND 2017

(US$’000, except share data and per share data, or otherwise noted)


	As of December 31,
	2016		2017
Assets
Current assets
Cash and cash equivalents		12,005		6,440
Amounts due from subsidiaries and VIEs		47,006		74,193
Other assets		15		1,194

Total current assets		59,026		81,827

Non-current asset
Investments in subsidiaries and VIEs		45,050		41,407

Total assets		104,076		123,234

Liabilities, mezzanine equity and shareholders’ (deficit)/equity
Current liabilities
Accrued liabilities and other current liabilities		1,012		3,250
Derivative liabilities		60,525		—
Amounts due to subsidiaries and VIEs		2,109		—

Total current liabilities		63,646		3,250

Non-current liability
Derivative liabilities		359		—

Total non-current liability		359		—

Total liabilities		64,005		3,250

Commitments and contingencies		—		—


	As of December 31,
	2016			2017
Mezzanine equity
Series A convertible redeemable preferred shares (US$0.001 par value; 2,500,000 shares authorized as of December 31, 2016; 2,476,190 shares issued and outstanding as of December 31, 2016; redemption amount of US$6,737 as of December 31, 2016; none issued and outstanding as of December 31, 2017)		5,597			—
Series B convertible redeemable preferred shares (US$0.001 par value; 3,000,000 shares authorized as of December 31, 2016; 1,889,249 shares issued and outstanding as of December 31, 2016; redemption amount of US$14,625 as of December 31, 2016; none issued and outstanding as of December 31, 2017)		9,807			—
Series C convertible redeemable preferred shares (US$0.001 par value; 1,650,000 shares authorized as of December 31, 2016; 1,599,186 shares issued and outstanding as of December 31, 2016; redemption amount of US$22,288 as of December 31, 2016; none issued and outstanding as of December 31, 2017)		10,733			—
Series D convertible redeemable preferred shares (US$0.001 par value; 4,500,000 shares authorized as of December 31, 2016; 2,493,018 shares issued and outstanding as of December 31, 2016; redemption amount of US$58,874 as of December 31, 2016; none issued and outstanding as of December 31, 2017)		43,956			—
Series E convertible redeemable preferred shares (US$0.001 par value; 1,200,000 shares authorized as of December 31, 2016; 1,068,114 shares issued and outstanding as of December 31, 2016; redemption amount of US$20,000 as of December 31, 2016; none issued and outstanding as of December 31, 2017)		18,845			—
Redeemable ordinary shares (US$0.001 par value; 742,320 shares issued and outstanding as of December 31, 2016; none issued and outstanding as of December 31, 2017)		15,445			—

Total mezzanine equity		104,383			—

Shareholders’ (deficit)/equity
Ordinary shares		14			26
Treasury shares		(2,468	)		(2,093	)
Other shareholders’ (deficit)/equity		(61,858	)		122,051

Total shareholders’ (deficit)/equity		(64,312	)		119,984

Total liabilities, mezzanine equity and shareholders’ (deficit)/equity		104,076			123,234

Summary of Condensed Statements of Comprehensive Loss

CONDENSED STATEMENTS OF COMPREHENSIVE LOSS

FOR THE YEARS ENDED DECEMBER 31, 2015, 2016 AND 2017

(US$’000, except share data and per share data, or otherwise noted)


	For the years ended December 31,
	2015			2016			2017
Operating expenses
General and administrative expenses		(7,455	)		(21,655	)		(6,928	)

Total operating expenses		(7,455	)		(21,655	)		(6,928	)

Operating loss
Other gains, net		101			145			(116	)
Fair value (loss)/gain on derivative liabilities		(19,390	)		3,995			(10,190	)

Loss from subsidiaries and VIEs		(12,970	)		(9,815	)		(7,385	)

Loss before income tax expense		(39,714	)		(27,330	)		(24,619	)

Income tax expense		—			—			—

Net loss		(39,714	)		(27,330	)		(24,619	)

Accretion to convertible redeemable preferred shares redemption value		(2,692	)		(773	)		(1,662	)
Accretion to redeemable ordinary shares redemption value		(1,982	)		(1,556	)		(3,650	)

Net loss attributable to iClick Interactive Asia Group Limited’s ordinary shareholders		(44,388	)		(29,659	)		(29,931	)

Net loss		(39,714	)		(27,330	)		(24,619	)
Other comprehensive loss:
Foreign currency translation adjustment, net of tax		(129	)		(139	)		(79	)

Comprehensive loss attributable to iClick Interactive Asia Group Limited		(39,843	)		(27,469	)		(24,698	)

Summary of Condensed Statements of Cash Flows

CONDENSED STATEMENTS OF CASH FLOWS

FOR THE YEARS ENDED DECEMBER 31, 2015, 2016 AND 2017


	For the years ended December 31,
	2015			2016			2017
Cash flows from operating activities:
Net cash used in operating activities		(86,738	)		(8,083	)		(34,030	)

Cash flows from financing activities:
Proceeds from issuance of Series E convertible redeemable preferred shares		—			20,000			—
Proceeds from exercise of share options		284			171			60
Net proceeds from issuance of ordinary shares upon IPO		—			—			28,405
Others		2,210			—			—

Net cash from financing activities		2,494			20,171			28,465

Net (decrease)/increase in cash and cash equivalents		(84,244	)		12,088			(5,565	)

Organization and Principal Activities - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands	Dec. 22, 2017	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Feb. 13, 2015	Dec. 31, 2014	Nov. 30, 2014
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Total assets		$ 188,822	$ 169,640
Total Liabilities		68,838	129,569
American Depositary Shares [Member] \| IPO [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Sale of stock, number of shares issued in transaction	4,312,500
Sale of stock, price per share	$ 0.5
Net proceeds received after deducting commissions and offering expenses	$ 28,405
OptAim VIE [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Total assets		7,867	27,135
Total Liabilities		6,819	12,310
Registered capital and statutory reserve		$ 2,081	$ 2,081
Buzzinate Company Limited [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Equity interest acquired				66.70%	42.90%	33.30%	33.30%

Organization and Principal Activities - Summary of Subsidiaries of Company and Consolidated Variable Interest Entities (Detail)	12 Months Ended
	Dec. 31, 2017	Dec. 21, 2017
Digital Marketing Group Limited [Member]
Noncontrolling Interest [Line Items]
% of direct or indirect economic ownership	100.00%
Date of incorporation	2006-10
Place of incorporation/ establishment	Hong Kong
Principal activities	Dormant
Tetris Media Limited [Member]
Noncontrolling Interest [Line Items]
% of direct or indirect economic ownership	100.00%
Date of incorporation	2007-07
Place of incorporation/ establishment	Hong Kong
Principal activities	Internet marketing services and solutions
iClick Interactive Asia Limited [Member]
Noncontrolling Interest [Line Items]
% of direct or indirect economic ownership	100.00%
Date of incorporation	2008-12
Place of incorporation/ establishment	Hong Kong
Principal activities	Internet marketing services and solutions
Optimix Media Asia Limited [Member]
Noncontrolling Interest [Line Items]
% of direct or indirect economic ownership	100.00%
Date of incorporation	2009-03
Place of incorporation/ establishment	Hong Kong
Principal activities	Investment holding
China Search Asia Limited [Member]
Noncontrolling Interest [Line Items]
% of direct or indirect economic ownership	100.00%
Date of incorporation	2010-09
Place of incorporation/ establishment	Hong Kong
Principal activities	Internet marketing services and solutions
Diablo Holdings Corporation [Member]
Noncontrolling Interest [Line Items]
% of direct or indirect economic ownership	100.00%
Date of incorporation	2010-08
Place of incorporation/ establishment	British Virgin Islands ("BVI")
Principal activities	Investment holding
Harmattan Capital Holdings Corporation [Member]
Noncontrolling Interest [Line Items]
% of direct or indirect economic ownership	100.00%
Date of incorporation	2010-08
Place of incorporation/ establishment	BVI
Principal activities	Investment holding
iClick Interactive Singapore Pte Ltd [Member]
Noncontrolling Interest [Line Items]
% of direct or indirect economic ownership	100.00%
Date of incorporation	2011-01
Place of incorporation/ establishment	Singapore
Principal activities	Internet marketing services and solutions
iClick Interactive Beijing Advertisement Co Ltd [Member]
Noncontrolling Interest [Line Items]
% of direct or indirect economic ownership	100.00%
Date of incorporation	2011-01
Place of incorporation/ establishment	The PRC
Principal activities	Internet marketing services and solutions
Search Asia Technology Shenzhen Co Ltd [Member]
Noncontrolling Interest [Line Items]
% of direct or indirect economic ownership	100.00%
Date of incorporation	2011-01
Place of incorporation/ establishment	The PRC
Principal activities	Internet marketing services and solutions
iClick Interactive Taiwan Limited Taiwan Branch [Member]
Noncontrolling Interest [Line Items]
% of direct or indirect economic ownership	100.00%
Date of incorporation	2011-09
Place of incorporation/ establishment	Taiwan
Principal activities	Internet marketing services and solutions
Performance Media Group Limited [Member]
Noncontrolling Interest [Line Items]
% of direct or indirect economic ownership	100.00%
Date of incorporation	2013-01
Place of incorporation/ establishment	Hong Kong
Principal activities	Internet marketing services and solutions
Tetris Media Shanghai Co Ltd [Member]
Noncontrolling Interest [Line Items]
% of direct or indirect economic ownership	100.00%
Date of incorporation	2013-07
Place of incorporation/ establishment	The PRC
Principal activities	Internet marketing services and solutions
Buzzinate Company Limited [Member]
Noncontrolling Interest [Line Items]
% of direct or indirect economic ownership	100.00%
Date of incorporation	2009-03
Place of incorporation/ establishment	Hong Kong
Principal activities	Technology development
Buzzinate Shanghai Information Technology Co Ltd [Member]
Noncontrolling Interest [Line Items]
% of direct or indirect economic ownership	100.00%
Date of incorporation	2009-07
Place of incorporation/ establishment	The PRC
Principal activities	Technology development service
OptAim Limited [Member]
Noncontrolling Interest [Line Items]
% of direct or indirect economic ownership	100.00%
Date of incorporation	2014-07
Place of incorporation/ establishment	Cayman Islands
Principal activities	Investment holding
OptAim HK Limited [Member]
Noncontrolling Interest [Line Items]
% of direct or indirect economic ownership	100.00%
Date of incorporation	2014-07
Place of incorporation/ establishment	Hong Kong
Principal activities	Investment holding
OptAim Beijing Information Technology Co Ltd [Member]
Noncontrolling Interest [Line Items]
% of direct or indirect economic ownership	100.00%
Date of incorporation	2014-11
Place of incorporation/ establishment	The PRC
Principal activities	Internet marketing services and solutions
Anhui Zhiyunzhong Information Technology Co Ltd [Member]
Noncontrolling Interest [Line Items]
% of direct or indirect economic ownership	100.00%
Date of incorporation	2017-11
Place of incorporation/ establishment	The PRC
Principal activities	Internet marketing services and solutions
Beijing OptAim Network Technology Co Ltd [Member]
Noncontrolling Interest [Line Items]
% of direct or indirect economic ownership		100.00%
Date of incorporation		2012-09
Place of incorporation/ establishment		The PRC
Principal activities		Internet marketing services and solutions
Zhiyunzhong Shanghai Technology Co Ltd [Member]
Noncontrolling Interest [Line Items]
% of direct or indirect economic ownership		100.00%
Date of incorporation		2014-09
Place of incorporation/ establishment		The PRC
Principal activities		Internet marketing services and solutions
Arda Holdings Limited [Member]
Noncontrolling Interest [Line Items]
% of direct or indirect economic ownership		100.00%
Date of incorporation		2010-05
Place of incorporation/ establishment		BVI
Principal activities		To hold treasury shares

Principal Accounting Policies - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2017 USD ($) Segment	Dec. 31, 2016 USD ($) Segment	Dec. 31, 2015 USD ($) Segment	Jul. 31, 2015	Feb. 13, 2015 USD ($)	Dec. 31, 2014 USD ($)	Nov. 30, 2014
Summary Of Significant Accounting Policies [Line Items]
Impairments of assets	$ 0	$ 0	$ 0
Restricted cash	0	5,234,000
Equity method investment	0	0
Goodwill impairment losses recognized	0	0	0
Capitalized costs related to internal use software	0	0
Research and development expenses	5,778,000	8,584,000	8,106,000
General and administrative expenses	$ 12,983,000	$ 26,767,000	$ 12,745,000
Percentage of after tax net income transferred to statutory general reserve	10.00%	10.00%	10.00%
Statutory general reserve as percent of registered capital	50.00%	50.00%	50.00%
Dividends declared	$ 0	$ 0	$ 0
Number of operating segments \| Segment	1	1	1
Number of reportable segments \| Segment	1	1	1
Cost of revenues	$ 95,733,000	$ 61,048,000	$ 34,531,000
Sales and marketing expenses [Member]
Summary Of Significant Accounting Policies [Line Items]
Advertising expenses	1,727,000	1,246,000	$ 1,764,000
ASU 2014-09 [Member]
Summary Of Significant Accounting Policies [Line Items]
Cost of revenues	$ 2,236,000	2,568,000
ASU 2015-17 [Member]
Summary Of Significant Accounting Policies [Line Items]
Deferred tax liabilities, current		$ 1,067,000
OptAim Limited [Member]
Summary Of Significant Accounting Policies [Line Items]
Remaining equity interest purchased				100.00%
VAT rate	6.00%
Buzzinate Company Limited [Member]
Summary Of Significant Accounting Policies [Line Items]
Purchase of equity interest by exercising option					57.10%
Remaining equity interest purchased			66.70%		42.90%	33.30%	33.30%
Equity method investment					$ 495,000	$ 533,000

Principal Accounting Policies - Summary of Estimated Useful Lives of Property and Equipment (Detail)	12 Months Ended
	Dec. 31, 2017
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Property plant and equipment, useful lives	Over the shorter of lease term or 2 - 5 years
Minimum [Member] \| Furniture and Fixtures [Member]
Property, Plant and Equipment [Line Items]
Property plant and equipment, useful lives	2 years
Minimum [Member] \| Office Equipment [Member]
Property, Plant and Equipment [Line Items]
Property plant and equipment, useful lives	3 years
Maximum [Member] \| Furniture and Fixtures [Member]
Property, Plant and Equipment [Line Items]
Property plant and equipment, useful lives	5 years
Maximum [Member] \| Office Equipment [Member]
Property, Plant and Equipment [Line Items]
Property plant and equipment, useful lives	5 years

Principal Accounting Policies - Summary of Estimated Useful Lives of Intangible Assets (Detail) - Computer Software [Member]	12 Months Ended
	Dec. 31, 2017
Minimum [Member]
Finite-Lived Intangible Assets [Line Items]
Finite lived intangible asset useful life	2 years
Maximum [Member]
Finite-Lived Intangible Assets [Line Items]
Finite lived intangible asset useful life	5 years

Certain Risks and Concentration - Schedule of Financial Information of VIEs and its subsidiary Excluding Intercompany Items with Company's Subsidiaries (Consolidated Balance Sheets) (Detail) - OptAim VIE [Member] - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Current assets
Cash and cash equivalents	$ 1,585	$ 1,046
Accounts receivable, net	5,553	8,129
Other current assets	552	17,761
Total current assets	7,690	26,936
Non-current assets
Property and equipment, net	14	36
Other non-current assets	163	163
Total non-current assets	177	199
Total assets	7,867	27,135
Current liabilities
Accounts payable	29	28
Deferred revenue	5,986	11,878
Accrued liabilities and other current liabilities	804	404
Total current liabilities	6,819	12,310
Total liabilities	$ 6,819	$ 12,310

Certain Risks and Concentration - Schedule of Financial Information of VIEs and its subsidiary Excluding Intercompany Items with Company's Subsidiaries (Consolidated Statements of Comprehensive Loss) (Detail) - OptAim VIE [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Condensed Income Statements, Captions [Line Items]
Net revenues	$ 25,302	$ 52,215	$ 11,653
Net (loss)/profit	$ 1,646	$ (322)	$ (172)

Certain Risks and Concentration - Schedule of Financial Information of VIEs and its subsidiary Excluding Intercompany Items with Company's Subsidiaries (Consolidated Statements of Cash Flows) (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Condensed Cash Flow Statements, Captions [Line Items]
Net cash (used in)/provided by operating activities	$ (13,881)	$ (3,907)	$ (9,797)
Net cash used in investing activities	(19,931)	(3,710)	(18,095)
OptAim VIE [Member]
Condensed Cash Flow Statements, Captions [Line Items]
Net cash (used in)/provided by operating activities	539	1,043	(1,144)
Net cash used in investing activities	0	(3)	(19)
Net (decrease)/increase in cash and cash equivalents	$ 539	$ 1,040	$ (1,163)

Certain Risks and Concentration - Schedule of Estimated Fair Values of Financial Assets and Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	$ 19,401	$ 27,280
Restricted cash		5,234
Time deposit	25,000	0
Bank borrowings	10,486	12,982
Derivative liabilities	0	60,525
Level 1 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	19,401	27,280
Restricted cash		5,234
Time deposit	25,000
Bank borrowings	0	0
Derivative liabilities		0
Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	0	0
Restricted cash		0
Time deposit	0
Bank borrowings	10,486	12,982
Derivative liabilities		0
Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	0	0
Restricted cash		0
Time deposit	0
Bank borrowings	$ 0	0
Derivative liabilities		$ 60,525

Certain Risks and Concentration - Additional Information (Detail) - Customer	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Net Revenues [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Number of customers with revenues greater than 10%	0	2	0
Net Revenues [Member] \| Customer One [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Concentration risk percentage		18.00%
Net Revenues [Member] \| Customer Two [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Concentration risk percentage		11.00%
Accounts Receivable [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Number of customers with more than 10% of consolidated accounts receivable	0	0
Accounts Receivable [Member] \| Credit Concentration Risk [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Concentration risk percentage	42.00%	39.00%

Business Acquisitions - Additional Information (Detail) - USD ($)			1 Months Ended		2 Months Ended	12 Months Ended
	Jul. 31, 2015	Feb. 13, 2015	Jul. 31, 2015	Nov. 30, 2014	Feb. 13, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Business Acquisition [Line Items]
Estimated weighted average cost of capital						18.30%
Adjustment on cash consideration							$ 0
OptAim Limited [Member]
Business Acquisition [Line Items]
Equity interest acquired	100.00%		100.00%
Minimum [Member]
Business Acquisition [Line Items]
Growth rate on average spending per customer						3.00%
Maximum [Member]
Business Acquisition [Line Items]
Growth rate on average spending per customer						19.00%
Buzzinate Company Limited [Member]
Business Acquisition [Line Items]
Equity interest acquired		42.90%		33.30%	42.90%		66.70%	33.30%
Cash consideration paid for equity method investment		$ 250,000		$ 750,000
Subsequent purchase of equity interest by exercising option		57.10%			57.10%
Equity consideration paid		142,151
Equity consideration paid amount		$ 2,027,000
Estimated terminal growth rate		3.00%
Estimated weighted average cost of capital		18.60%
Fair value measurements, valuation technique		Discounted cash flow
Total purchase consideration					$ 3,277,000
Cash consideration					1,250,000
Ordinary shares of the Company					$ 2,027,000
Buzzinate Company Limited [Member] \| Indefinite-lived Intangible Assets [Member]
Business Acquisition [Line Items]
Fair value inputs, discount rate		19.60%
Buzzinate Company Limited [Member] \| Minimum [Member]
Business Acquisition [Line Items]
Growth rate on average spending per customer		3.00%
Buzzinate Company Limited [Member] \| Minimum [Member] \| Indefinite-lived Intangible Assets [Member]
Business Acquisition [Line Items]
Growth rate on average spending per customer		3.00%
Fair value measurements, valuation technique		Income approach
Buzzinate Company Limited [Member] \| Maximum [Member]
Business Acquisition [Line Items]
Growth rate on average spending per customer		10.00%
Percentage of net revenue and net loss of acquired entities		5.00%
Buzzinate Company Limited [Member] \| Maximum [Member] \| Indefinite-lived Intangible Assets [Member]
Business Acquisition [Line Items]
Growth rate on average spending per customer		10.00%
OptAim Limited [Member]
Business Acquisition [Line Items]
Estimated terminal growth rate	3.00%
Estimated weighted average cost of capital	16.10%
Fair value measurements, valuation technique	Discounted cash flow
Total purchase consideration			$ 67,620,000
Cash consideration			$ 15,976,000
Ordinary shares of the Company, number of shares			2,535,091
Ordinary shares of the Company			$ 50,843,000
Fair value of replacement awards attributable to pre-acquisition services			$ 801,000
OptAim Limited [Member] \| Indefinite-lived Intangible Assets [Member]
Business Acquisition [Line Items]
Fair value measurements, valuation technique	Income approach
Fair value inputs, discount rate	20.60%
OptAim Limited [Member] \| Minimum [Member]
Business Acquisition [Line Items]
Growth rate on average spending per customer	1.00%
OptAim Limited [Member] \| Minimum [Member] \| Indefinite-lived Intangible Assets [Member]
Business Acquisition [Line Items]
Growth rate on average spending per customer	3.00%
OptAim Limited [Member] \| Maximum [Member]
Business Acquisition [Line Items]
Growth rate on average spending per customer	4.00%
OptAim Limited [Member] \| Maximum [Member] \| Indefinite-lived Intangible Assets [Member]
Business Acquisition [Line Items]
Growth rate on average spending per customer	8.00%

Business Acquisition - Schedule of Movement of Carrying Value of Equity Method Investment (Detail) - USD ($)	2 Months Ended	12 Months Ended
	Feb. 13, 2015	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Subsidiary or Equity Method Investee [Line Items]
Balance at beginning of the period		$ 0
Share of loss of equity investee for the period		0	$ 0	$ 38,000
Balance at end of the period		0	0
Fair value gain on re-measurement of equity investee		$ 0	$ 0	(1,161,000)
Buzzinate Company Limited [Member]
Subsidiary or Equity Method Investee [Line Items]
Balance at beginning of the period	$ 533,000			$ 533,000
Share of loss of equity investee for the period	(38,000)
Balance at end of the period	495,000
Fair value gain on re-measurement of equity investee	1,161,000
Equity method investment, fair value	$ 1,656,000

Business Acquisition - Schedule of Fair value of Consideration Transferred (Detail) - USD ($) $ in Thousands	1 Months Ended	2 Months Ended
	Jul. 31, 2015	Feb. 13, 2015
Buzzinate Company Limited [Member]
Business Acquisition [Line Items]
Cash		$ 1,250
Ordinary shares of the Company		2,027
Total		3,277
Fair value of previously held interest in Buzzinate		$ 1,656
OptAim Limited [Member]
Business Acquisition [Line Items]
Cash	$ 15,976
Ordinary shares of the Company	50,843
Fair value of replacement awards attributable to pre-acquisition services	801
Total	$ 67,620

Business Acquisition - Schedule of Recognized Amounts of Identifiable Assets Acquired and Liabilities Assumed (Detail) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016	Jul. 31, 2015	Feb. 13, 2015
Business Acquisition [Line Items]
Goodwill	$ 48,496	$ 48,496
Buzzinate Company Limited [Member]
Business Acquisition [Line Items]
Cash				$ 1,439
Other current assets				207
Property and equipment				375
Intangible asset				644
Current liabilities				(529)
Deferred tax liabilities				(161)
Total identifiable net assets acquired				1,975
Goodwill				2,958
Total purchase consideration, net of cash acquired				$ 3,494
OptAim Limited [Member]
Business Acquisition [Line Items]
Cash			$ 1,301
Other current assets			13,193
Property and equipment			84
Intangible asset			20,100
Current liabilities			(7,571)
Deferred tax liabilities			(5,025)
Total identifiable net assets acquired			22,082
Goodwill			45,538
Total purchase consideration, net of cash acquired			$ 50,343

Business Acquisition - Schedule of Estimated Amounts Recognized on Acquired Identifiable Intangible Asset and its Estimated Useful Life (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Jul. 31, 2015	Feb. 13, 2015
Buzzinate Company Limited [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Gross carrying amount			$ 644
OptAim Limited [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Gross carrying amount		$ 20,100
Computer Software [Member] \| Buzzinate Company Limited [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Estimated useful life	5 years
Gross carrying amount	$ 644
Computer Software [Member] \| OptAim Limited [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Estimated useful life	5 years
Gross carrying amount	$ 20,100

Business Acquisition - Schedule of Unaudited Pro Forma Operating Results (Detail) - OptAim Limited [Member] $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2015 USD ($) $ / shares
Business Acquisition [Line Items]
Net revenues \| $	$ 69,025
Net loss \| $	$ (39,688)
Pro forma basic net loss per share \| $ / shares	$ (3.80)
Pro forma diluted net loss per share \| $ / shares	$ (3.80)

Cash and Cash Equivalents and Time Deposit - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Cash and Cash Equivalents [Abstract]
Time deposit	$ 25,000	$ 0
Maturity of time deposit	3 months 6 days

Cash and Cash Equivalents and Time Deposit - Schedule of Cash on Hand and Cash Held at Bank (Detail) € in Thousands, ¥ in Thousands, $ in Thousands, $ in Thousands, $ in Thousands, $ in Thousands	Dec. 31, 2017 USD ($)	Dec. 31, 2017 CNY (¥)	Dec. 31, 2017 EUR (€)	Dec. 31, 2017 HKD ($)	Dec. 31, 2017 SGD ($)	Dec. 31, 2017 TWD ($)	Dec. 31, 2016 USD ($)	Dec. 31, 2016 CNY (¥)	Dec. 31, 2016 EUR (€)	Dec. 31, 2016 HKD ($)	Dec. 31, 2016 SGD ($)	Dec. 31, 2016 TWD ($)
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents and time deposits	$ 44,401	¥ 50,600	€ 106	$ 18,099	$ 432	$ 7,014	$ 27,280	¥ 67,697	€ 125	$ 15,666	$ 235	$ 2,855
RMB [Member]
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents and time deposits	7,694						9,771
HK$ [Member]
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents and time deposits	2,332						2,019
US$ [Member]
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents and time deposits	33,639						15,064
SGD (Member]
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents and time deposits	323						165
TWD [Member]
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents and time deposits	235						88
Euro [Member]
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents and time deposits	126						133
Other Currency [Member]
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents and time deposits	52						40
Other Currency [Member] \| Other Foreign Country [Member]
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents and time deposits	$ 67						$ 292

Restricted Cash - Additional Information (Detail) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Restricted Cash [Abstract]
Restricted cash	$ 0	$ 5,234
Restricted cash deposit bank rate		0.05%

Accounts Receivables, Net - Summary of Accounts Receivable (Detail) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Accounts Receivable, Net, Current [Abstract]
Accounts receivable, gross	$ 42,276	$ 32,387
Less: allowance for doubtful accounts	(1,478)	(1,693)	$ (1,733)
Accounts receivable, net	$ 40,798	$ 30,694

Accounts Receivables, Net - Summary of Movement in Allowance for Doubtful Accounts (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Allowance for doubtful accounts receivable
Balance at the beginning of year	$ 1,693	$ 1,733
Additions for the year	910	99	$ 1,886
Recoveries	(40)	0	(185)
Accounts receivable written off	(1,134)	(99)
Exchange differences	49	(40)
Balance at the end of year	$ 1,478	$ 1,693	$ 1,733

Other Assets - Summary of Other Assets (Detail) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Current
Deposits	$ 2,248	$ 2,202
Prepayments	266	417
VAT receivable	379	372
Others	214	64
Other assets, Current	3,107	3,055
Non-current
Prepayment for acquisition of fixed assets	0	122
Rental deposits	284	249
Other assets, Non-current	$ 284	$ 371

Property and Equipment, Net - Summary of Property and Equipment (Detail) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 7,177	$ 7,029
Less: Accumulated depreciation	(5,882)	(4,519)
Exchange differences	(130)	(192)
Property and equipment, net	1,165	2,318
Office Equipment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	4,661	4,629
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	1,763	1,653
Furniture and Fixtures [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 753	$ 747

Property and Equipment, Net - Summary of Depreciation Expense Recognized (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Property, Plant and Equipment [Line Items]
Depreciation expense	$ 1,363	$ 1,512	$ 1,138
Cost of Revenues [Member]
Property, Plant and Equipment [Line Items]
Depreciation expense	6	11	9
Research and development expenses [Member]
Property, Plant and Equipment [Line Items]
Depreciation expense	108	199	161
Sales and marketing expenses [Member]
Property, Plant and Equipment [Line Items]
Depreciation expense	582	838	662
General and administrative expenses [Member]
Property, Plant and Equipment [Line Items]
Depreciation expense	$ 667	$ 464	$ 306

Intangible Assets, Net - Summary of Intangible Assets (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Cost: Computer software	$ 21,593	$ 21,576
Less: Accumulated amortization Computer software	(10,994)	(6,773)
Exchange differences	1	1
Intangible assets, net	$ 10,600	$ 14,804

Intangible Assets, Net - Summary of Amortization Expense Recognized (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Finite-Lived Intangible Assets [Line Items]
Amortization expense	$ 4,221	$ 4,312	$ 2,043
Cost of Revenues [Member]
Finite-Lived Intangible Assets [Line Items]
Amortization expense	4,147	4,149	1,874
Research and development expenses [Member]
Finite-Lived Intangible Assets [Line Items]
Amortization expense	3	28	30
Sales and marketing expenses [Member]
Finite-Lived Intangible Assets [Line Items]
Amortization expense	17	19	16
General and administrative expenses [Member]
Finite-Lived Intangible Assets [Line Items]
Amortization expense	$ 54	$ 116	$ 123

Intangible Assets, Net - Summary of Estimated Aggregate Amortization Expense (Detail) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
2018	$ 4,168
2019	4,149
2020	2,283
2021	0
2022	0
Intangible assets, net	$ 10,600	$ 14,804

Goodwill - Summary of Movements on Goodwill (Detail) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Goodwill [Line Items]
Goodwill	$ 48,496	$ 48,496
Buzzinate Company Limited [Member]
Goodwill [Line Items]
Goodwill	2,958	2,958
OptAim Limited [Member]
Goodwill [Line Items]
Goodwill	$ 45,538	$ 45,538

Goodwill - Additional Information (Detail)	12 Months Ended
Goodwill - Additional Information (Detail)	Dec. 31, 2017 USD ($) Reporting_Unit	Dec. 31, 2016 USD ($) Reporting_Unit	Dec. 31, 2015 USD ($) Reporting_Unit
Goodwill and Intangible Assets Disclosure [Abstract]
Impairment of goodwill \| $	$ 0	$ 0	$ 0
Number of reporting unit \| Reporting_Unit	1	1	1

Deferred Revenue - Summary of Deferred Revenue (Detail) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Deferred Revenue [Abstract]
Deferred revenue, current	$ 33,037	$ 25,697

- Definition

The carrying amount of consideration received or receivable as of the balance sheet date on potential earnings that were not recognized as revenue in conformity with GAAP, and which are expected to be recognized as such within one year or the normal operating cycle, if longer, including sales, license fees, and royalties, but excluding interest income.

+ References + Details

Accrued Liabilities and Other Current Liabilities - Summary of Accrued Liabilities and Other Current Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Accrued Liabilities and Other Liabilities [Abstract]
Rebates payable to customers	$ 3,257	$ 5,214
VAT and other taxes payable	2,659	1,679
Security deposit received from customers	686	772
Accrued employee benefits	2,741	3,257
Accrued professional fees	4,167	1,544
Accrued marketing and hosting expense	1,831	1,424
Others	788	1,201
Accrued liabilities and other current liabilities	$ 16,129	$ 15,091

Bank Borrowings - Summary of Bank Borrowings (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Debt Instrument [Line Items]
Bank borrowings	$ 10,486	$ 12,982
1-Year Revolving Loan Denominated in RMB [Member]
Debt Instrument [Line Items]
Bank borrowings	7,603	4,330
1-Year Revolving Loan Denominated in US$ [Member]
Debt Instrument [Line Items]
Bank borrowings	2,800	2,950
2-Year Demand Loan Agreement Denominated in US$ [Member]
Debt Instrument [Line Items]
Bank borrowings	83	1,083
6-Month Revolving Loan Denominated in RMB [Member]
Debt Instrument [Line Items]
Bank borrowings	$ 0	1,444
Loan repayment date	Jan. 13, 2017
1-Year Revolving Loan Denominated in RMB [Member]
Debt Instrument [Line Items]
Bank borrowings	$ 0	1,732
Debt instrument maturity date	Jul. 28, 2017
3-Month Loan Denominated in RMB [Member]
Debt Instrument [Line Items]
Bank borrowings	$ 0	$ 1,443
Debt instrument maturity date	Feb. 14, 2017

Bank Borrowings - Summary of Bank Borrowings (Parenthetical) (Detail)							12 Months Ended
	Dec. 21, 2016 USD ($)	Dec. 19, 2016 USD ($)	Nov. 14, 2016 USD ($)	Jul. 28, 2016 USD ($)	May 20, 2016 CNY (¥)	Jan. 20, 2016 USD ($)	Dec. 31, 2017 USD ($)	Dec. 31, 2016 USD ($)	Dec. 31, 2017 CNY (¥)	Mar. 31, 2017 USD ($)	Mar. 31, 2017 CNY (¥)	Dec. 31, 2016 CNY (¥)	Dec. 19, 2016 CNY (¥)	Nov. 14, 2016 CNY (¥)	Jul. 28, 2016 CNY (¥)
1-Year Revolving Loan Denominated in RMB [Member]
Debt Instrument [Line Items]
Maturity term		1 year					1 year
Loan amount		$ 4,330,000					$ 7,603,000		¥ 50,000,000				¥ 30,000,000
Loan facility interest rate, description							The interest rate of this loan facility was the benchmark interest rate determined by the People's Bank of China for loans over one year granted by financial institutions plus 1.65% per annum.
1-Year Revolving Loan Denominated in RMB [Member] \| People's Bank of China Interest Rate [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		1.65%					1.65%
1-Year Revolving Loan Denominated in US$ [Member]
Debt Instrument [Line Items]
Maturity term	1 year
Loan amount	$ 3,000,000
Loan amount utilized							$ 2,800,000	$ 2,950,000
Loan facility interest rate, description							The interest rate of this short-term loan facility was determined by three-month LIBOR plus 5.75% and three-month LIBOR plus 5.55% for the years ended December 31, 2016 and 2017.
1-Year Revolving Loan Denominated in US$ [Member] \| London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate							5.55%	5.75%
2-Year Demand Loan Agreement Denominated in US$ [Member]
Debt Instrument [Line Items]
Maturity term						2 years
Loan amount						$ 2,000,000
Loan amount utilized							$ 1,083,000	$ 83,000
Loan facility interest rate, description							The interest rate of this loan was the benchmark interest rate determined by three-month LIBOR plus 7.00% per annum.
2-Year Demand Loan Agreement Denominated in US$ [Member] \| London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate							7.00%
6-Month Revolving Loan Denominated in RMB [Member]
Debt Instrument [Line Items]
Maturity term					6 months
Loan amount \| ¥					¥ 20,000,000
Loan amount utilized								1,444,000				¥ 10,000,000
Loan facility interest rate, description							The interest rate of this loan facility was the benchmark interest rate determined by the People's Bank of China for loans over six months granted by financial institutions plus 20.0% per annum.
Restricted cash as required by loan agreement								1,568,000
6-Month Revolving Loan Denominated in RMB [Member] \| People's Bank of China Interest Rate [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate					20.00%
1-Year Revolving Loan Denominated in RMB [Member]
Debt Instrument [Line Items]
Maturity term				1 year
Loan amount				$ 1,732,000											¥ 12,000,000
Loan facility interest rate, description							The interest rate of this loan facility was the benchmark interest rate determined by the People's Bank of China for loans over one year granted by financial institutions plus 0.435% per annum.
Restricted cash as required by loan agreement								2,000,000
1-Year Revolving Loan Denominated in RMB [Member] \| People's Bank of China Interest Rate [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate				0.435%
3-Month Loan Denominated in RMB [Member]
Debt Instrument [Line Items]
Maturity term			3 months
Loan amount			$ 1,443,000											¥ 10,000,000
Loan facility interest rate, description							The interest rate of this loan facility was the benchmark interest rate determined by the People's Bank of China for loans over three months granted by financial institutions plus 0.435% per annum
Restricted cash as required by loan agreement								$ 1,666,000
3-Month Loan Denominated in RMB [Member] \| People's Bank of China Interest Rate [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate			0.435%
RMB 18 Months Revolving Loan [Member]
Debt Instrument [Line Items]
Loan amount										$ 4,300,000	¥ 30,000,000
Debt instrument, fixed instrument										5.75%	5.75%

Bank Borrowings - Additional Information (Detail)	Dec. 31, 2017	Dec. 31, 2016
Debt Disclosure [Abstract]
Weighted average interest rate for bank loans outstanding	6.33%	5.99%

Redeemable Convertible Preferred Shares - Additional Information (Detail) - USD ($)									1 Months Ended		12 Months Ended
	Dec. 28, 2016	Sep. 24, 2015	Dec. 30, 2014	Dec. 16, 2013	May 16, 2011	Feb. 21, 2011	Sep. 29, 2010	Feb. 17, 2010	Dec. 31, 2017	May 31, 2011	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Temporary Equity [Line Items]
Consideration paid for share repurchase												$ 0	$ 0	$ 11,581,000
Excess of purchase price over carrying value														2,591,000
Voting rights												The holders of the Series A, B, C, D and E preferred shares shall be entitled to such number of votes equal to the whole number of ordinary shares into which such Series A, B, C, D and E preferred shares are convertible.
Amount charged to additional paid-in capital as a deemed dividend												$ 0	0	0
Maximum [Member]
Temporary Equity [Line Items]
Liquidating transaction, valuation of the company on fully diluted basis												550,000
Maximum [Member] \| Equity valuation of the Group of US$250,000 or higher, but lower than US$300,000 [Member]
Temporary Equity [Line Items]
Equity threshold limit for liquidation												300,000
Minimum [Member] \| Equity valuation of the Group of US$300,000 or higher [Member]
Temporary Equity [Line Items]
Equity threshold limit for liquidation												300,000
Minimum [Member] \| Equity valuation of the Group of US$250,000 or higher, but lower than US$300,000 [Member]
Temporary Equity [Line Items]
Equity threshold limit for liquidation												$ 250,000
Ordinary shares [Member]
Temporary Equity [Line Items]
Temporary equity, shares issued												2,156,250
Conversion of preferred shares to Class A ordinary shares												(10,268,077)
Additional shares required to be issued because anti-dilution provision is triggered										100,452
Amount charged to additional paid-in capital as a deemed dividend										$ 421,000
Ordinary shares [Member] \| Mr. Cong and Mr. Liu [Member]
Temporary Equity [Line Items]
Ordinary shares issued in exchange for services										457,611
IPO [Member]
Temporary Equity [Line Items]
Temporary equity, shares issued									2,156,250
Conversion of preferred shares to Class A ordinary shares									(10,268,077)			(742,320)
Series A preferred shares [Member]
Temporary Equity [Line Items]
Temporary equity issued, total cash consideration								$ 1,200,000
Temporary equity, shares issued								1,142,857
Temporary equity issued, price per share								$ 1.05
Warrants issued								342,857
Warrants issued, price per share								$ 1.05
Warrant term								1 year
Dividend percentage												8.00%
Liquidation preference, percentage												200.00%
Ordinary share each share of preferred shares can be converted into									1			1
Series A preferred shares [Member] \| Prior to or on December 28, 2017 [Member]
Temporary Equity [Line Items]
Liquidation preference, percentage												110.00%
Series A-1 preferred shares [Member]
Temporary Equity [Line Items]
Temporary equity issued, total cash consideration							$ 800,000
Warrants issued								228,571
Warrants issued, price per share								$ 1.05
Option granted								761,905
Option granted, exercise price								$ 1.05
Series B preferred shares [Member]
Temporary Equity [Line Items]
Temporary equity issued, total cash consideration						$ 7,000,000
Temporary equity, shares issued						1,266,667
Temporary equity issued, price per share						$ 5.53
Warrants issued						542,858
Warrants issued, price per share						$ 5.53
Dividend percentage												8.00%
Liquidation preference, percentage												150.00%
Ordinary share each share of preferred shares can be converted into									1			1
Additional shares required to be issued because anti-dilution provision is triggered										55,807
Amount charged to additional paid-in capital as a deemed dividend										$ 320,000
Series B preferred shares [Member] \| Prior to or on December 28, 2017 [Member]
Temporary Equity [Line Items]
Liquidation preference, percentage												110.00%
Series B-1 preferred shares [Member]
Temporary Equity [Line Items]
Temporary equity issued, total cash consideration					$ 4,285,000
Temporary equity, shares issued					723,808
Temporary equity issued, price per share					$ 5.92
Number of shares repurchased		723,808
Consideration paid for share repurchase		$ 11,581,000
Price per share, fair value		$ 19.58
Repurchase price share		$ 16.00
Excess of purchase price over carrying value		$ 2,591,000
Series C Redeemable Convertible Preferred Shares [Member]
Temporary Equity [Line Items]
Temporary equity, shares issued				1,599,186
Temporary equity issued, price per share				$ 8.13
Temporary equity issued, total cash consideration				$ 13,000,000
Ordinary share each share of preferred shares can be converted into									1			1
Series D Redeemable Convertible Preferred Shares [Member]
Temporary Equity [Line Items]
Temporary equity issued, total cash consideration			$ 48,000,000
Temporary equity, shares issued			2,493,018
Temporary equity issued, price per share			$ 19.25
Obligation to issue additional shares, description of terms												The Company was also obligated to issue additional Series D preferred shares to Investor D at no consideration, the total number of which is based on a formula stipulated in the agreement, if the gross billing of the Group as defined in the Series D Agreement for the year ended December 31, 2016 is less than US$85,000.
Fair value of obligation to issue additional shares at no consideration													0
Dividend percentage												8.00%
Liquidation preference, percentage												150.00%
Ordinary share each share of preferred shares can be converted into									1			1
Series D Redeemable Convertible Preferred Shares [Member] \| Prior to or on December 28, 2017 [Member]
Temporary Equity [Line Items]
Liquidation preference, percentage												110.00%
Series E Redeemable Convertible Preferred Stock [Member]
Temporary Equity [Line Items]
Temporary equity issued, total cash consideration	$ 20,000,000
Temporary equity, shares issued	1,068,114
Temporary equity issued, price per share	$ 18.72
Temporary equity issued, total cash consideration												$ 0	18,845,000
Dividend percentage												8.00%
Liquidation preference, percentage												120.00%
Ordinary share each share of preferred shares can be converted into									1			1
Series E Redeemable Convertible Preferred Stock [Member] \| Prior to or on December 28, 2017 [Member]
Temporary Equity [Line Items]
Liquidation preference, percentage												110.00%
Series A and B Redeemable Convertible Preferred Shares [Member] \| Equity valuation of the Group of US$300,000 or higher [Member]
Temporary Equity [Line Items]
Liquidation preference, percentage												0.00%
Series A and B Redeemable Convertible Preferred Shares [Member] \| Equity valuation of the Group of US$250,000 or higher, but lower than US$300,000 [Member]
Temporary Equity [Line Items]
Liquidation preference, percentage												100.00%
Series E Preferred Stock [Member]
Temporary Equity [Line Items]
Temporary equity issued, total cash consideration												$ 0	20,000,000	0
Redemption price percentage												100.00%
Annual compound interest									9.50%			9.50%
Series E Preferred Stock [Member] \| Minimum [Member]
Temporary Equity [Line Items]
Redeemable Criteria Of Revenue												$ 200,000
Implied market capitalization												600,000,000
Proceeds for issue of share												$ 150,000,000
Series E Preferred Stock [Member] \| Scenario, Forecast [Member] \| Minimum [Member]
Temporary Equity [Line Items]
Redeemable Criteria Of Revenue											$ 300,000
Series E Preferred Stock [Member] \| IPO [Member]
Temporary Equity [Line Items]
Conversion of preferred shares to Class A ordinary shares												(1,068,114)
Series A Preferred Stock [Member]
Temporary Equity [Line Items]
Redemption price percentage												200.00%
Series A Preferred Stock [Member] \| IPO [Member]
Temporary Equity [Line Items]
Conversion of preferred shares to Class A ordinary shares												(2,476,190)
Series B Preferred Stock [Member]
Temporary Equity [Line Items]
Redemption price percentage												150.00%
Series B Preferred Stock [Member] \| IPO [Member]
Temporary Equity [Line Items]
Conversion of preferred shares to Class A ordinary shares												(1,889,249)
Series C Preferred Stock [Member]
Temporary Equity [Line Items]
Redemption price percentage												200.00%
Series C Preferred Stock [Member] \| IPO [Member]
Temporary Equity [Line Items]
Conversion of preferred shares to Class A ordinary shares												(1,599,186)
Series D Preferred Stock [Member]
Temporary Equity [Line Items]
Temporary equity issued, total cash consideration												$ 0	$ 0	$ 15,000,000
Implied valuation of preferred stock									$ 500,000			$ 500,000
Series D Preferred Stock [Member] \| IPO [Member]
Temporary Equity [Line Items]
Conversion of preferred shares to Class A ordinary shares												(2,493,018)

Redeemable Convertible Preferred Shares - Fair Values of Conversion Features and Redemption Features Which Required to Be Bifurcated and Accounted for as Derivative Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Derivatives, Fair Value [Line Items]
Derivative liabilities		$ 60,884
Less: current portion	$ 0	(60,525)
Non-current portion	$ 0	359
Financial Derivatives-Conversion Features [Member]
Derivatives, Fair Value [Line Items]
Derivative liabilities		56,916
Financial Derivatives-Redemption Features [Member]
Derivatives, Fair Value [Line Items]
Derivative liabilities		$ 3,968

Redeemable Convertible Preferred Shares - Schedule of Significant Estimates Used to Calculate Fair Value of Preferred Shares for Determining Conversion Feature and Redemption Feature (Detail) - USD ($) $ in Thousands		12 Months Ended
	Dec. 16, 2013	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Temporary Equity [Line Items]
Percentage of terminal assumed growth rate			3.00%
Weighted average cost of capital			18.30%
Beginning balance		$ 104,383
Accretion to redemption value		3,650	$ 1,556	$ 1,982
Ending balance		0	$ 104,383
Minimum [Member]
Temporary Equity [Line Items]
Growth rate on average spending per customer			3.00%
Maximum [Member]
Temporary Equity [Line Items]
Growth rate on average spending per customer			19.00%
Series B preferred shares [Member]
Temporary Equity [Line Items]
Beginning balance		9,807	$ 9,145
Accretion to redemption value		1,427	662
Conversion to Class A ordinary shares		(11,234)	0
Ending balance		0	9,807	9,145
Series A preferred shares [Member]
Temporary Equity [Line Items]
Beginning balance		5,597	5,487
Accretion to redemption value		235	110
Conversion to Class A ordinary shares		(5,832)	0
Ending balance		0	5,597	5,487
Series C Redeemable Convertible Preferred Shares [Member]
Temporary Equity [Line Items]
Beginning balance		10,733	10,733
Issuance of preferred shares	$ 13,000
Conversion to Class A ordinary shares		(10,733)	0
Ending balance		0	10,733	10,733
Series D Redeemable Convertible Preferred Shares [Member]
Temporary Equity [Line Items]
Beginning balance		43,956	43,956
Gain from wavier on anti-dilution		(632)	0
Conversion to Class A ordinary shares		(43,324)	0
Ending balance		0	43,956	43,956
Series E Redeemable Convertible Preferred Stock [Member]
Temporary Equity [Line Items]
Beginning balance		18,845	0
Issuance of preferred shares		0	18,845
Conversion to Class A ordinary shares		(18,845)	0
Ending balance		$ 0	$ 18,845	$ 0

Redeemable Ordinary Shares - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands		1 Months Ended	12 Months Ended
	Dec. 30, 2014	Dec. 31, 2017	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Class of Stock [Line Items]
Proceeds from common stock			$ 28,405	$ 0	$ 0
IPO [Member]
Class of Stock [Line Items]
Newly issued shares		2,156,250
Conversion of preferred shares to Class A ordinary shares		10,268,077	742,320
Redeemable ordinary shares [Member] \| Investor D [Member]
Class of Stock [Line Items]
Ordinary shares, issued	742,320
Ordinary shares issued, price per share	$ 16.17
Shares transferred from treasury shares	99,022
Newly issued shares	643,298
Proceeds from common stock	$ 12,000
Accrued interest at a non-compound interest rate			0.00%

Ordinary Shares - Additional Information (Detail) - $ / shares	1 Months Ended	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2010
Class of Stock [Line Items]
Ordinary shares, shares authorized	100,000,000	100,000,000	37,150,000
Ordinary shares, par value	$ 0.001	$ 0.001	$ 0.001
Number of vote entitled, ordinary share		The holders of Class A ordinary shares shall have one vote in respect of each Class A ordinary share held, the holders of Class B ordinary shares shall have twenty votes in respect of each Class B ordinary share held.
Ordinary shares, shares outstanding	26,059,433	26,059,433	13,609,208
Ordinary Shares - Class A [Member]
Class of Stock [Line Items]
Ordinary shares, shares authorized	80,000,000	80,000,000	37,150,000
Ordinary shares, par value	$ 0.001	$ 0.001	$ 0.001
Ordinary shares, shares outstanding	21,238,825	21,238,825	13,609,208
Ordinary Shares - Class B [Member]
Class of Stock [Line Items]
Ordinary shares, shares authorized	20,000,000	20,000,000	0
Ordinary shares, par value	$ 0.001	$ 0.001	$ 0.001
Ordinary shares, shares outstanding	4,820,608	4,820,608	0
Wing Hong Sammy Hsieh [Member]
Class of Stock [Line Items]
Conversion of ordinary shares		2,500,580
Jian Tang [Member]
Class of Stock [Line Items]
Conversion of ordinary shares		2,320,028
IPO [Member]
Class of Stock [Line Items]
Issuance of ordinary shares	2,156,250
Conversion of preferred shares to Class A ordinary shares	10,268,077	742,320
2010 Share Option Plan [Member] \| Arda Holdings Limited [Member]
Class of Stock [Line Items]
Common stock, allotted	762,561	762,561	788,459	627,811

Share-based compensation - Summary of Share Options Granted (Detail) - $ / shares												12 Months Ended
	Jul. 01, 2017	Apr. 01, 2017	Jan. 01, 2017	Jul. 01, 2016	Apr. 01, 2016	Dec. 31, 2015	Aug. 01, 2015	Jul. 06, 2015	Jun. 30, 2015	Feb. 01, 2015	Jan. 01, 2015	Dec. 31, 2017	Dec. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares												302,200	122,316
Exercise price at grant date												$ 8.37	$ 10.42
January 1, 2015 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares											6,000
Term (year)											1 month 27 days
Vesting period (year)											0 years
Exercise price at grant date											$ 6.0000
January 1, 2015 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares											18,500
Term (year)											1 month 27 days
Vesting period (year)											0 years
Exercise price at grant date											$ 1.8227
January 1, 2015 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares											11,938
Term (year)											1 month 27 days
Vesting period (year)											0 years
Exercise price at grant date											$ 2.1669
January 1, 2015 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares											206,845
Term (year)											10 years 4 days
Vesting period (year)											4 years
Exercise price at grant date											$ 8.1300
February 1, 2015 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares										10,000
Term (year)										10 years 2 months 1 day
Vesting period (year)										4 years 1 month 27 days
Exercise price at grant date										$ 16.1700
June 30, 2015 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares									36,000
Term (year)									10 years 4 days
Vesting period (year)									4 years
Exercise price at grant date									$ 16.1700
July 6, 2015 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares								25,000
Term (year)								10 years 2 months 30 days
Vesting period (year)								4 years 2 months 27 days
Exercise price at grant date								$ 20.0000
July 6, 2015 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares								15,000
Term (year)								11 years 2 months 30 days
Vesting period (year)								5 years 2 months 27 days
Exercise price at grant date								$ 20.0000
August 1, 2015 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares							58,058
Term (year)							10 years 4 days
Vesting period (year)							1 year 8 months 2 days
Exercise price at grant date							$ 0.3224
August 1, 2015 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares							25,308
Term (year)							10 years 4 days
Vesting period (year)							1 year 9 months
Exercise price at grant date							$ 0.4299
August 1, 2015 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares							7,444
Term (year)							10 years 4 days
Vesting period (year)							2 years 2 months 30 days
Exercise price at grant date							$ 0.8598
August 1, 2015 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares							49,871
Term (year)							10 years 4 days
Vesting period (year)							2 years 3 months 29 days
Exercise price at grant date							$ 1.0748
August 1, 2015 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares							32,750
Term (year)							10 years 4 days
Vesting period (year)							2 years 8 months 2 days
Exercise price at grant date							$ 1.2897
August 1, 2015 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares							10,421
Term (year)							10 years 4 days
Vesting period (year)							2 years 8 months 2 days
Exercise price at grant date							$ 0.4299
August 1, 2015 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares							82,995
Term (year)							10 years 4 days
Vesting period (year)							3 years 3 months 29 days
Exercise price at grant date							$ 1.6122
August 1, 2015 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares							11,165
Term (year)							10 years 4 days
Vesting period (year)							3 years 8 months 2 days
Exercise price at grant date							$ 0.2687
August 1, 2015 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares							78,156
Term (year)							10 years 4 days
Vesting period (year)							3 years 8 months 2 days
Exercise price at grant date							$ 2.6869
August 1, 2015 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares							147,007
Term (year)							10 years 4 days
Vesting period (year)							3 years 9 months 29 days
Exercise price at grant date							$ 4.0304
August 1, 2015 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares							21,884
Term (year)							10 years 4 days
Vesting period (year)							4 years					4 years
Exercise price at grant date							$ 5.3739
December 31, 2015 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares						113,311
Term (year)						10 years 4 days
Vesting period (year)						0 years
Exercise price at grant date						$ 0.0100
April 1, 2016 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares					32,200
Term (year)					10 years 2 months 30 days
Vesting period (year)					4 years
Exercise price at grant date					$ 20.0000
April 1, 2016 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares					79,116
Term (year)					10 years 2 months 30 days
Vesting period (year)					4 years
Exercise price at grant date					$ 6.0000
July 1, 2016 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares				10,000
Term (year)				10 years
Vesting period (year)				4 years
Exercise price at grant date				$ 20.0000
July 1, 2016 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares				1,000
Term (year)				10 years
Vesting period (year)				4 years
Exercise price at grant date				$ 12.0000
January 1, 2017 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares			4,400
Term (year)			10 years 4 days
Vesting period (year)			4 years
Exercise price at grant date			$ 20.0000
January 1, 2017 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares			180,000
Term (year)			10 years 4 days
Vesting period (year)			4 years
Exercise price at grant date			$ 8.1290
January 1, 2017 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares			100,800
Term (year)			10 years 4 days
Vesting period (year)			4 years
Exercise price at grant date			$ 8.1290
April 1, 2017 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares		5,000
Term (year)		10 years 4 days
Vesting period (year)		4 years
Exercise price at grant date		$ 12.0000
July 1, 2017 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares	12,000
Term (year)	8 years 6 months 3 days
Vesting period (year)	2 years 6 months
Exercise price at grant date	$ 8.1290

Share-based compensation - Summary of Share Options Granted (Parenthetical) (Detail) - August 1, 2015 [Member]		12 Months Ended
	Aug. 01, 2015	Dec. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share options, vesting date	1 year 8 months 2 days
Employee Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share options vesting period description		The holders of the options are entitled to exercise the vested options during the first five business days of January, April, July and October until the expiration date — August 1, 2025 of the share options.
Share options, expiration date		Aug. 01, 2025
Employee Stock Option [Member] \| Share-based Compensation Award, Tranche One [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share options, vesting percentage		58.33%
Share options, vesting date		Aug. 01, 2015
Employee Stock Option [Member] \| Share-based Compensation Award, Tranche Two [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share options, vesting percentage		41.67%
Share options, vesting date		1 year 8 months 2 days
Share options, vesting period start date		Aug. 01, 2015
Share options, vesting period end date		Mar. 31, 2017
Share options, vesting date	1 year 9 months
Employee Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share options vesting period description		The holders of the options are entitled to exercise the vested options during the first five business days of January, April, July and October until the expiration date - August 1, 2025 of the share options.
Share options, expiration date		Aug. 01, 2025
Employee Stock Option [Member] \| Share-based Compensation Award, Tranche One [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share options, vesting percentage		56.25%
Share options, vesting date		Aug. 01, 2015
Employee Stock Option [Member] \| Share-based Compensation Award, Tranche Two [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share options, vesting percentage		43.75%
Share options, vesting date		1 year 9 months
Share options, vesting period start date		Aug. 01, 2015
Share options, vesting period end date		Apr. 30, 2017
Share options, vesting date	2 years 2 months 30 days
Employee Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share options vesting period description		The holders of the options are entitled to exercise the vested options during the first five business days of January, April, July and October until the expiration date - August 1, 2025 of the share options.
Share options, expiration date		Aug. 01, 2025
Employee Stock Option [Member] \| Share-based Compensation Award, Tranche One [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share options, vesting percentage		43.75%
Share options, vesting date		Aug. 01, 2015
Employee Stock Option [Member] \| Share-based Compensation Award, Tranche Two [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share options, vesting percentage		56.25%
Share options, vesting date		2 years 2 months 30 days
Share options, vesting period start date		Aug. 01, 2015
Share options, vesting period end date		Oct. 31, 2017
Share options, vesting date	2 years 3 months 29 days
Employee Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share options vesting period description		The holders of the options are entitled to exercise the vested options during the first five business days of January, April, July and October until the expiration date - August 1, 2025 of the share options.
Share options, expiration date		Aug. 01, 2025
Employee Stock Option [Member] \| Share-based Compensation Award, Tranche One [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share options, vesting percentage		41.67%
Share options, vesting date		Aug. 01, 2015
Employee Stock Option [Member] \| Share-based Compensation Award, Tranche Two [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share options, vesting percentage		58.30%
Share options, vesting date		2 years 3 months 29 days
Share options, vesting period start date		Aug. 01, 2015
Share options, vesting period end date		Nov. 30, 2017
Share options, vesting date	2 years 8 months 2 days
Share options vesting period description		The holders of the options are entitled to exercise the vested options during the first five business days of January, April, July and October until the expiration date - August 1, 2025 of the share options.
Share options, expiration date		Aug. 01, 2025
Share-based Compensation Award, Tranche One [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share options, vesting percentage		33.67%
Share options, vesting date		Aug. 01, 2015
Share-based Compensation Award, Tranche Two [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share options, vesting percentage		66.33%
Share options, vesting date		2 years 8 months 2 days
Share options, vesting period start date		Aug. 01, 2015
Share options, vesting period end date		Mar. 31, 2018
Share options, vesting date	2 years 8 months 2 days
Employee Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share options vesting period description		The holders of the options are entitled to exercise the vested options during the first five business days of January, April, July and October until the expiration date - August 1, 2025 of the share options.
Share options, expiration date		Aug. 01, 2025
Employee Stock Option [Member] \| Share-based Compensation Award, Tranche One [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share options, vesting percentage		33.67%
Share options, vesting date		Aug. 01, 2015
Employee Stock Option [Member] \| Share-based Compensation Award, Tranche Two [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share options, vesting percentage		66.33%
Share options, vesting date		2 years 8 months 2 days
Share options, vesting period start date		Aug. 01, 2015
Share options, vesting period end date		Mar. 31, 2018
Share options, vesting date	3 years 3 months 29 days
Employee Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share options vesting period description		The holders of the options are entitled to exercise the vested options during the first five business days of January, April, July and October until the expiration date — August 1, 2025 of the share options.
Share options, expiration date		Aug. 01, 2025
Employee Stock Option [Member] \| Share-based Compensation Award, Tranche One [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share options, vesting percentage		16.67%
Share options, vesting date		Aug. 01, 2015
Employee Stock Option [Member] \| Share-based Compensation Award, Tranche Two [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share options, vesting percentage		83.33%
Share options, vesting date		3 years 3 months 29 days
Share options, vesting period start date		Aug. 01, 2015
Share options, vesting period end date		Nov. 30, 2018
Share options, vesting date	3 years 8 months 2 days
Employee Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share options vesting period description		The holders of the options are entitled to exercise the vested options during the first five business days of January, April, July and October until the expiration date — August 1, 2025 of the share options.
Share options, expiration date		Aug. 01, 2025
Employee Stock Option [Member] \| Share-based Compensation Award, Tranche One [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share options, vesting percentage		14.58%
Share options, vesting date		Aug. 01, 2015
Employee Stock Option [Member] \| Share-based Compensation Award, Tranche Two [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share options, vesting percentage		85.42%
Share options, vesting date		3 years 5 months 1 day
Share options, vesting period start date		Aug. 01, 2015
Share options, vesting period end date		Dec. 31, 2018
Share options, vesting date	3 years 8 months 2 days
Employee Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share options vesting period description		The holders of the options are entitled to exercise the vested options during the first five business days of January, April, July and October until the expiration date — August 1, 2025 of the share options.
Share options, expiration date		Aug. 01, 2025
Employee Stock Option [Member] \| Share-based Compensation Award, Tranche One [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share options, vesting percentage		8.33%
Share options, vesting date		Aug. 01, 2015
Employee Stock Option [Member] \| Share-based Compensation Award, Tranche Two [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share options, vesting percentage		91.67%
Share options, vesting date		3 years 8 months 2 days
Share options, vesting period start date		Aug. 01, 2015
Share options, vesting period end date		Mar. 31, 2019
Share options, vesting date	3 years 9 months 29 days
Employee Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share options vesting period description		The holders of the options are entitled to exercise the vested options during the first five business days of January, April, July and October until the expiration date — August 1, 2025 of the share options.
Share options, expiration date		Aug. 01, 2015
Employee Stock Option [Member] \| Share-based Compensation Award, Tranche One [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share options, vesting percentage		4.17%
Share options, vesting date		Aug. 01, 2015
Employee Stock Option [Member] \| Share-based Compensation Award, Tranche Two [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share options, vesting percentage		95.83%
Share options, vesting date		3 years 9 months 29 days
Share options, vesting period start date		Aug. 01, 2015
Share options, vesting period end date		May 31, 2019
Share options, vesting date	4 years	4 years
Share options, vesting period start date		Aug. 01, 2015
Share options, vesting period end date		May 31, 2019
Share options vesting period description		The holders of the options are entitled to exercise the vested options during the first five business days of January, April, July and October until the expiration date — August 1, 2025 of the share options.
Share options, expiration date		Aug. 01, 2025

Share-based Compensation - Summary of Share Option Activity (Detail) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Compensation Related Costs [Abstract]
Number of shares, Beginning balance	1,492,185	1,592,443
Weighted average grant date fair value, Beginning balance	$ 0	$ 0
Number of shares, Granted	302,200	122,316
Number of shares, Exercised	(25,898)	(68,135)
Number of shares, Forfeited	(225,911)	(154,439)
Number of shares, Ending balance	1,542,576	1,492,185	1,592,443
Number of shares, Vested and expected to vest	1,199,712	1,083,293
Number of shares, Exercisable to vest	1,118,812	928,597
Weighted average grant date fair value, Beginning balance	$ 0
Weighted average exercise price, Beginning balance	5.23	$ 4.90
Weighted average exercise price, Granted	8.37	10.42
Weighted average grant date fair value, Granted	11.67	13.81
Weighted average exercise price, Exercised	2.37	2.51
Weighted average grant date fair value, Exercised	0	0
Weighted average exercise price, Forfeited	7.34	7.14
Weighted average grant date fair value, Forfeited	0	0
Weighted average exercise price, Ending balance	5.62	5.23	$ 4.90
Weighted average grant date fair value, Ending balance	0	0	$ 0
Weighted average exercise price, Vested and expected to vest	4.75	4.25
Weighted average grant date fair value, Vested and expected to vest	10.71	9.64
Weighted average exercise price, Exercisable to vest	4.72	3.68
Weighted average grant date fair value, Exercisable to vest	$ 11.35	$ 10.77
Weighted average remaining contractual life years	7 years 2 months 27 days	7 years 9 months 18 days	8 years 6 months 29 days
Weighted average remaining contractual life years, Vested and expected to vest	6 years 6 months 18 days	7 years 1 month 24 days
Weighted average remaining contractual life years, Exercisable to vest	6 years 10 months 13 days	7 years 5 months 9 days
Aggregate intrinsic value	$ 19,387	$ 18,631	$ 23,641
Aggregate intrinsic value, Vested and expected to vest	16,081	14,494
Aggregate intrinsic value, Exercisable to vest	$ 15,035	$ 12,615

Share-based Compensation - Additional Information (Detail) - USD ($)		12 Months Ended
	Dec. 28, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total fair values of options vested and recognized as expenses		$ 3,681,000	$ 3,688,000	$ 6,494,000
Share options granted		302,200	122,316
Unrecognized share-based compensation expenses		$ 4,666,000	$ 5,647,000
Weighted-average expense recognition period		2 years 15 days	2 years 2 months 12 days
Share-based compensation expense		$ 5,072,000	$ 21,244,000	6,494,000
Share-based compensation expense and additional paid in capital		5,072,000	21,244,000	6,494,000
Vesting Condition One [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total merger and acquisition		$ 500,000	$ 500,000
Options vested		0	0
General and administrative expenses [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense and additional paid in capital		$ 1,907,000	$ 18,047,000	$ 789,000
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Growth rate on average spending per customer			3.00%
Minimum [Member] \| Vesting Condition One [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected market capitalization for option vesting		500,000	$ 500,000
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Growth rate on average spending per customer			19.00%
Performance Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense		$ 0
Total fair value of shares			$ 32,869,000
Terminal growth rate			3.00%
Weighted average cost of capital			18.30%
Performance Shares [Member] \| Fiscal Year 2017 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted ordinary shares authorized for issuance	1,068,114
Performance Shares [Member] \| Fiscal Year 2018 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted ordinary shares authorized for issuance	801,086
Performance Shares [Member] \| Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Growth rate on average spending per customer		3.00%
Performance Shares [Member] \| Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Growth rate on average spending per customer		19.00%
Employee Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Terminal growth rate	3.00%
Weighted average cost of capital	18.30%
Ordinary shares transferred from the company and three of its shareholders to certain employees	998,338
Employee Stock Option [Member] \| General and administrative expenses [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense and additional paid in capital	$ 17,555,000
Employee Stock Option [Member] \| Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Growth rate on average spending per customer	3.00%
Employee Stock Option [Member] \| Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Growth rate on average spending per customer	19.00%
Employees [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected future forfeiture rate		6.00%	9.00%
Vesting conditions		As of December 31, 2016, there were 150,000 share options granted to certain employees which the vesting was subject to the earlier occurrence of any of the following events, either: the Company being approved to be listed on a stock exchange with an expected market capitalization of no less than US$500,000; or (ii) a merger or acquisition of the Company or any of its subsidiaries at a valuation of US$500,000 or above in which the shareholders of the Company shall no longer hold a majority of the outstanding shares of the surviving corporation.
Share options granted		150,000	150,000
Management [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected future forfeiture rate		23.00%	0.00%

Share-based Compensation - Summary of Fair Values of Share Options Granted (Detail)	12 Months Ended
	Dec. 31, 2017
Grant Date April 1, 2016 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate	2.00%
Dividend yield	0.00%
Volatility rate	49.37%
Grant Date July 1, 2016 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate	1.62%
Dividend yield	0.00%
Volatility rate	50.52%
Grant Date January 1, 2017 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate	2.67%
Dividend yield	0.00%
Volatility rate	50.75%
Grant Date April 1, 2017 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate	2.59%
Dividend yield	0.00%
Volatility rate	50.79%
Grant Date July 1, 2017 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate	2.35%
Dividend yield	0.00%
Volatility rate	47.59%

Share-based Compensation - Summary of Compensation Costs Recognized (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Compensation cost recognized	$ 5,072	$ 21,244	$ 6,494
Cost of Revenues [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Compensation cost recognized	49	52	80
Research and development expenses [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Compensation cost recognized	937	985	1,526
Sales and marketing expenses [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Compensation cost recognized	2,179	2,160	4,099
General and administrative expenses [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Compensation cost recognized	$ 1,907	$ 18,047	$ 789

Other Gains/(Losses), Net - Tabular Disclosure of Gain (Loss) Related to Nonoperating Activities, Classified as Other (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Nonoperating Gains (Losses) [Abstract]
Fair value gain on re-measurement of previously held equity interests in Buzzinate (Note 4(a))	$ 0	$ 0	$ 1,161
Net exchange (loss)/gain	1,257	(1,147)	(923)
Management fee income	0	0	375
Forfeiture of advances from customers	432	0	0
Others	152	65	178
Total	$ 1,841	$ (1,082)	$ 791

Income Tax - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Income Tax Contingency [Line Items]
Tax loss carryforwards	$ 31,745	$ 28,201
Hong Kong [Member]
Income Tax Contingency [Line Items]
Statutory Income Tax Rate	16.50%	16.50%	16.50%
PRC [Member]
Income Tax Contingency [Line Items]
Statutory Income Tax Rate	25.00%	25.00%	25.00%
Statutory withholding tax rate	10.00%	10.00%	10.00%
Tax arrangements between the PRC government and the government of other jurisdiction	5.00%	5.00%	5.00%
Undistributed earnings from subsidiaries	$ 330	$ 305
Estimated foreign withholding taxes that would be due if these earnings were remitted as dividends	$ 17	$ 31

Income Tax - Disclosure of Current and Deferred Portions of Income Tax Expense (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Income Tax Disclosure [Abstract]
Current income tax expense	$ 1,262	$ 1,283	$ 737
Deferred tax benefits	(714)	(1,061)	(1,292)
Income tax (benefit)/expense	$ 548	$ 222	$ (555)

Income Tax - Disclosure of Deferred Tax Assets and Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Deferred tax assets
Tax losses carried forward	$ 7,573	$ 6,838
Share-based payments	850	682
Less: Valuation allowance	(7,573)	(6,838)
Deferred tax assets net	850	682
Deferred tax liabilities
Acquired intangible assets	(2,638)	(3,677)
Outside basis difference	(486)	0
Others	(35)	(28)
Deferred tax liabilities net	$ (3,159)	$ (3,705)

Income Tax - Disclosure of Movement of Valuation Allowance (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Valuation Allowance [Abstract]
Beginning balance	$ 6,838	$ 5,804
Additions	735	1,034
Ending balance	$ 7,573	$ 6,838

Income Tax - Disclosure of Operating Tax Loss Carry Forwards Expiring Years (Detail) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Operating Loss Carryforwards [Line Items]
Operating loss carry forwards	$ 31,745	$ 28,201
2017 [Member]
Operating Loss Carryforwards [Line Items]
Operating loss carry forwards	0	1,993
2018 [Member]
Operating Loss Carryforwards [Line Items]
Operating loss carry forwards	1,717	1,630
2019 [Member]
Operating Loss Carryforwards [Line Items]
Operating loss carry forwards	1,542	1,709
2020 [Member]
Operating Loss Carryforwards [Line Items]
Operating loss carry forwards	7,235	12,344
2021 [Member]
Operating Loss Carryforwards [Line Items]
Operating loss carry forwards	8,226	8,025
2022 [Member]
Operating Loss Carryforwards [Line Items]
Operating loss carry forwards	8,751	0
Tax Loss With No Expiry [Member]
Operating Loss Carryforwards [Line Items]
Operating loss carry forwards	$ 4,274	$ 2,500

Income Tax - Disclosure of Reconciliation Between Expense of Income Taxes (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Effective Income Tax Rate Reconciliation, Amount [Abstract]
Tax benefit calculated at Hong Kong statutory tax rate	$ (3,972)	$ (4,509)	$ (6,553)
Effect of differences between Hong Kong statutory tax rate and foreign effective tax rates	(1,172)	213	(527)
Non-taxable other income	(275)	(738)	(448)
Non-deductible expenses	4,861	4,208	4,684
Valuation allowance	735	1,034	2,342
Outside basis difference	486	0	0
Others	(115)	14	(53)
Income tax (benefit)/expense	$ 548	$ 222	$ (555)

Basic and Diluted Net Loss per Share - Summary of Basic and Diluted Net Loss Per Share (Detail) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Numerator:
Net loss	$ (24,619)	$ (27,330)	$ (39,714)
Accretion of convertible redeemable preferred shares redemption value	(1,662)	(773)	(2,692)
Accretion to redeemable ordinary shares redemption value	(3,650)	(1,556)	(1,982)
Deemed contribution from Series B-1 preferred shareholders	0	0	2,591
Numerator of basic net loss per share	$ (29,931)	$ (29,659)	$ (41,797)
Denominator:
Denominator for basic and diluted net loss per share - weighted average shares outstanding	13,931,503	13,151,063	11,661,049
Basic net loss per share	$ (2.15)	$ (2.26)	$ (3.58)
Diluted net loss per share	$ (2.15)	$ (2.26)	$ (3.58)

Basic and Diluted Net Loss per Share - Computation of Diluted Net Loss Per Ordinary Share (Detail) - shares shares in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Redeemable Convertible Preferred Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Ordinary shares equivalent excluded from computation of diluted net loss per ordinary share	0	8,469	8,458
Employee Stock Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Ordinary shares equivalent excluded from computation of diluted net loss per ordinary share	1,071	1,091	1,194
Redeemable Ordinary Shares [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Ordinary shares equivalent excluded from computation of diluted net loss per ordinary share	0	742	742

Segment - Additional Information (Detail) - Segment	12 Months Ended
Segment - Additional Information (Detail) - Segment	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Segment Reporting [Abstract]
Number of operating segments	1	1	1

Segment - Summary of Revenue Generated for the Respective Countries (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Segment Reporting Information [Line Items]
Net revenues	$ 125,258	$ 95,357	$ 65,242
PRC [Member]
Segment Reporting Information [Line Items]
Net revenues	105,380	71,214	30,505
Hong Kong [Member]
Segment Reporting Information [Line Items]
Net revenues	18,287	22,766	34,442
Others [Member]
Segment Reporting Information [Line Items]
Net revenues	$ 1,591	$ 1,377	$ 295

Segment - Summary of Long-Lived Assets (Detail) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Segment Reporting Information [Line Items]
Long-lived assets	$ 1,165	$ 2,318
PRC [Member]
Segment Reporting Information [Line Items]
Long-lived assets	858	1,666
Hong Kong [Member]
Segment Reporting Information [Line Items]
Long-lived assets	300	637
Others [Member]
Segment Reporting Information [Line Items]
Long-lived assets	$ 7	$ 15

Commitments and Contingencies - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Operating Leased Assets [Line Items]
Total office rental expenses under all operating leases	$ 1,862,000	$ 3,024,000	$ 2,637,000
Purchase commitments related to purchase of space	$ 0	$ 0
Maximum [Member]
Operating Leased Assets [Line Items]
Operating leases expiring period	2 years

Commitments and Contingencies - Summary of Operating Leases for Office Rental (Detail)	Dec. 31, 2017 USD ($)
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract]
2018	$ 1,796,000
2019	66,000
Operating Leases, Future Minimum Payments Due	$ 1,862,000

Restricted Net Assets - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Restricted Net Assets [Abstract]
Percentage of net after-tax income of Group's subsidiary and VIE required to be annually appropriated to the statutory general reserve fund prior to payment of any dividends	10.00%	10.00%	10.00%
Limit of statutory reserve fund as a percentage of registered capital, after which allocations to statutory reserve fund are no longer required	50.00%	50.00%	50.00%
Restricted net assets	$ 9,631	$ 4,294
Restricted cash	$ 0	$ 5,234

Additional Information: Condensed Financial Statements of Parent Company - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2017
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
Minimum percentage requirement	25.00%

Additional Information: Condensed Financial Statements of Parent Company - Summary of Condensed Balance Sheets (Detail) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Current assets
Cash and cash equivalents	$ 19,401	$ 27,280	$ 10,395	$ 41,131
Other assets	3,107	3,055
Total current assets	127,427	102,969
Non-current asset
Total assets	188,822	169,640
Current liabilities
Accrued liabilities and other current liabilities	16,129	15,091
Derivative liabilities	0	60,525
Total current liabilities	65,679	125,505
Non-current liability
Derivative liabilities	0	359
Total non-currentliability	3,159	4,064
Total Liabilities	68,838	129,569
Commitments and contingencies		0
Mezzanine equity
Total mezzanine equity	0	104,383
Shareholders' (deficit)/equity
Treasury shares	(2,093)	(2,468)
Other shareholders' (deficit)/equity	(149,004)	(124,385)
Total shareholders' (deficit)/equity	119,984	(64,312)	$ (55,929)	$ (62,813)
Total liabilities, mezzanine equity and shareholders' (deficit)/equity	188,822	169,640
Series A Preferred Stock [Member]
Mezzanine equity
Total mezzanine equity	0	5,597
Series B Preferred Stock [Member]
Mezzanine equity
Total mezzanine equity	0	9,807
Series C Preferred Stock [Member]
Mezzanine equity
Total mezzanine equity	0	10,733
Series D Preferred Stock [Member]
Mezzanine equity
Total mezzanine equity	0	43,956
Series E Preferred Stock [Member]
Mezzanine equity
Total mezzanine equity	0	18,845
Ordinary Shares [Member]
Mezzanine equity
Total mezzanine equity	0	15,445
Parent Company [Member]
Current assets
Cash and cash equivalents	6,440	12,005
Amounts due from subsidiaries and VIEs	74,193	47,006
Other assets	1,194	15
Total current assets	81,827	59,026
Non-current asset
Investments in subsidiaries and VIEs	41,407	45,050
Total assets	123,234	104,076
Current liabilities
Accrued liabilities and other current liabilities	3,250	1,012
Derivative liabilities	0	60,525
Amounts due to subsidiaries and VIEs	0	2,109
Total current liabilities	3,250	63,646
Non-current liability
Derivative liabilities	0	359
Total non-currentliability	0	359
Total Liabilities	3,250	64,005
Commitments and contingencies	0	0
Mezzanine equity
Total mezzanine equity	0	104,383
Shareholders' (deficit)/equity
Ordinary shares	26	14
Treasury shares	(2,093)	(2,468)
Other shareholders' (deficit)/equity	122,051	(61,858)
Total shareholders' (deficit)/equity	119,984	(64,312)
Total liabilities, mezzanine equity and shareholders' (deficit)/equity	123,234	104,076
Parent Company [Member] \| Series A Preferred Stock [Member]
Mezzanine equity
Total mezzanine equity	0	5,597
Parent Company [Member] \| Series B Preferred Stock [Member]
Mezzanine equity
Total mezzanine equity	0	9,807
Parent Company [Member] \| Series C Preferred Stock [Member]
Mezzanine equity
Total mezzanine equity	0	10,733
Parent Company [Member] \| Series D Preferred Stock [Member]
Mezzanine equity
Total mezzanine equity	0	43,956
Parent Company [Member] \| Series E Preferred Stock [Member]
Mezzanine equity
Total mezzanine equity	0	18,845
Parent Company [Member] \| Ordinary Shares [Member]
Mezzanine equity
Total mezzanine equity	$ 0	$ 15,445

Additional Information: Condensed Financial Statements of Parent Company - Summary of Condensed Balance Sheets (Parenthetical) (Detail) - USD ($) $ / shares in Units, $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Series A Preferred Stock [Member]
Condensed Balance Sheet Statements, Captions [Line Items]
Redeemable convertible preference shares and ordinary shares, Par value	$ 0.001	$ 0.001
Redeemable convertible preference shares, Authorized		2,500,000
Redeemable convertible preference shares and ordinary shares, Issued	0	2,476,190
Redeemable convertible preference shares and ordinary shares, Outstanding	0	2,476,190
Redeemable convertible preference shares, Redemption amount		$ 6,737
Series B Preferred Stock [Member]
Condensed Balance Sheet Statements, Captions [Line Items]
Redeemable convertible preference shares and ordinary shares, Par value	$ 0.001	$ 0.001
Redeemable convertible preference shares, Authorized		3,000,000
Redeemable convertible preference shares and ordinary shares, Issued	0	1,889,249
Redeemable convertible preference shares and ordinary shares, Outstanding	0	1,889,249
Redeemable convertible preference shares, Redemption amount		$ 14,625
Series C Preferred Stock [Member]
Condensed Balance Sheet Statements, Captions [Line Items]
Redeemable convertible preference shares and ordinary shares, Par value	$ 0.001	$ 0.001
Redeemable convertible preference shares, Authorized		1,650,000
Redeemable convertible preference shares and ordinary shares, Issued	0	1,599,186
Redeemable convertible preference shares and ordinary shares, Outstanding	0	1,599,186
Redeemable convertible preference shares, Redemption amount		$ 22,288
Series D Preferred Stock [Member]
Condensed Balance Sheet Statements, Captions [Line Items]
Redeemable convertible preference shares and ordinary shares, Par value	$ 0.001	$ 0.001
Redeemable convertible preference shares, Authorized		4,500,000
Redeemable convertible preference shares and ordinary shares, Issued	0	2,493,018
Redeemable convertible preference shares and ordinary shares, Outstanding	0	2,493,018
Redeemable convertible preference shares, Redemption amount		$ 58,874
Series E Preferred Stock [Member]
Condensed Balance Sheet Statements, Captions [Line Items]
Redeemable convertible preference shares and ordinary shares, Par value	$ 0.001	$ 0.001
Redeemable convertible preference shares, Authorized		1,200,000
Redeemable convertible preference shares and ordinary shares, Issued	0	1,068,114
Redeemable convertible preference shares and ordinary shares, Outstanding	0	1,068,114
Redeemable convertible preference shares, Redemption amount		$ 20,000
Ordinary Shares [Member]
Condensed Balance Sheet Statements, Captions [Line Items]
Redeemable convertible preference shares and ordinary shares, Par value	$ 0.001	$ 0.001
Redeemable convertible preference shares and ordinary shares, Issued	0	742,320
Redeemable convertible preference shares and ordinary shares, Outstanding	0	742,320
Parent Company [Member] \| Series A Preferred Stock [Member]
Condensed Balance Sheet Statements, Captions [Line Items]
Redeemable convertible preference shares and ordinary shares, Par value		$ 0.001
Redeemable convertible preference shares, Authorized		2,500,000
Redeemable convertible preference shares and ordinary shares, Issued	0	2,476,190
Redeemable convertible preference shares and ordinary shares, Outstanding	0	2,476,190
Redeemable convertible preference shares, Redemption amount		$ 6,737
Parent Company [Member] \| Series B Preferred Stock [Member]
Condensed Balance Sheet Statements, Captions [Line Items]
Redeemable convertible preference shares and ordinary shares, Par value		$ 0.001
Redeemable convertible preference shares, Authorized		3,000,000
Redeemable convertible preference shares and ordinary shares, Issued	0	1,889,249
Redeemable convertible preference shares and ordinary shares, Outstanding	0	1,889,249
Redeemable convertible preference shares, Redemption amount		$ 14,625
Parent Company [Member] \| Series C Preferred Stock [Member]
Condensed Balance Sheet Statements, Captions [Line Items]
Redeemable convertible preference shares and ordinary shares, Par value		$ 0.001
Redeemable convertible preference shares, Authorized		1,650,000
Redeemable convertible preference shares and ordinary shares, Issued	0	1,599,186
Redeemable convertible preference shares and ordinary shares, Outstanding	0	1,599,186
Redeemable convertible preference shares, Redemption amount		$ 22,288
Parent Company [Member] \| Series D Preferred Stock [Member]
Condensed Balance Sheet Statements, Captions [Line Items]
Redeemable convertible preference shares and ordinary shares, Par value		$ 0.001
Redeemable convertible preference shares, Authorized		4,500,000
Redeemable convertible preference shares and ordinary shares, Issued	0	2,493,018
Redeemable convertible preference shares and ordinary shares, Outstanding	0	2,493,018
Redeemable convertible preference shares, Redemption amount		$ 58,874
Parent Company [Member] \| Series E Preferred Stock [Member]
Condensed Balance Sheet Statements, Captions [Line Items]
Redeemable convertible preference shares and ordinary shares, Par value		$ 0.001
Redeemable convertible preference shares, Authorized		1,200,000
Redeemable convertible preference shares and ordinary shares, Issued	0	1,068,114
Redeemable convertible preference shares and ordinary shares, Outstanding	0	1,068,114
Redeemable convertible preference shares, Redemption amount		$ 20,000
Parent Company [Member] \| Ordinary Shares [Member]
Condensed Balance Sheet Statements, Captions [Line Items]
Redeemable convertible preference shares and ordinary shares, Par value		$ 0.001
Redeemable convertible preference shares and ordinary shares, Issued	0	742,320
Redeemable convertible preference shares and ordinary shares, Outstanding	0	742,320

Additional Information: Condensed Financial Statements of Parent Company - Condensed Statements of Comprehensive Loss (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Operating expenses
Total operating expenses	$ (44,696)	$ (63,617)	$ (52,236)
Operating loss	(15,171)	(29,308)	(21,525)
Other gains, net	1,841	(1,082)	791
Fair value (loss)/gain on derivative liabilities	(10,190)	3,995	(19,390)
Loss before income tax expense	(24,071)	(27,108)	(40,231)
Income tax expense	(548)	(222)	555
Net loss	(24,619)	(27,330)	(39,714)
Accretion of convertible redeemable preferred shares redemption value	(1,662)	(773)	(2,692)
Accretion to redeemable ordinary shares redemption value	(3,650)	(1,556)	(1,982)
Net loss attributable to iClick Interactive Asia Group Limited's ordinary shareholders	(29,931)	(29,659)	(41,797)
Net loss	(24,619)	(27,330)	(39,714)
Other comprehensive loss:
Foreign currency translation adjustment, net of tax	(79)	(139)	(129)
Comprehensive loss attributable to iClick Interactive Asia Group Limited	(24,698)	(27,469)	(39,843)
Parent Company [Member]
Operating expenses
General and administrative expenses	(6,928)	(21,655)	(7,455)
Total operating expenses	(6,928)	(21,655)	(7,455)
Operating loss			0
Other gains, net	(116)	145	101
Fair value (loss)/gain on derivative liabilities	(10,190)	3,995	(19,390)
Loss from subsidiaries and VIEs	(7,385)	(9,815)	(12,970)
Loss before income tax expense	(24,619)	(27,330)	(39,714)
Income tax expense	0	0	0
Net loss	(24,619)	(27,330)	(39,714)
Accretion of convertible redeemable preferred shares redemption value	(1,662)	(773)	(2,692)
Accretion to redeemable ordinary shares redemption value	(3,650)	(1,556)	(1,982)
Net loss attributable to iClick Interactive Asia Group Limited's ordinary shareholders	(29,931)	(29,659)	(44,388)
Net loss	(24,619)	(27,330)	(39,714)
Other comprehensive loss:
Foreign currency translation adjustment, net of tax	(79)	(139)	(129)
Comprehensive loss attributable to iClick Interactive Asia Group Limited	$ (24,698)	$ (27,469)	$ (39,843)

Additional Information: Condensed Financial Statements of Parent Company - Summary of Condensed Statements of Cash Flows (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Cash flows from operating activities:
Net cash used in operating activities	$ (13,881)	$ (3,907)	$ (9,797)
Cash flows from financing activities:
Proceeds from exercise of share options	60	171	284
Net proceeds from issuance of ordinary shares upon IPO	28,405	0	0
Net cash (used in)/provided by financing activities	25,546	24,564	(2,612)
Series E Preferred Stock [Member]
Cash flows from financing activities:
Proceeds from issuance of Series E convertible redeemable preferred shares	0	20,000	0
Parent Company [Member]
Cash flows from operating activities:
Net cash used in operating activities	(34,030)	(8,083)	(86,738)
Cash flows from financing activities:
Proceeds from exercise of share options	60	171	284
Net proceeds from issuance of ordinary shares upon IPO	28,405	0	0
Others	0	0	2,210
Net cash (used in)/provided by financing activities	28,465	20,171	2,494
Net (decrease)/increase in cash and cash equivalents	(5,565)	12,088	(84,244)
Parent Company [Member] \| Series E Preferred Stock [Member]
Cash flows from financing activities:
Proceeds from issuance of Series E convertible redeemable preferred shares	$ 0	$ 20,000	$ 0