Document and Entity Information
Document and Entity Information - USD ($) | 12 Months Ended | ||
Jan. 31, 2017 | Apr. 10, 2017 | Jul. 31, 2016 | |
Document And Entity Information [Abstract] | |||
Document Type | 10-K | ||
Amendment Flag | false | ||
Document Period End Date | Jan. 31, 2017 | ||
Document Fiscal Year Focus | 2,017 | ||
Document Fiscal Period Focus | FY | ||
Trading Symbol | SEAC | ||
Entity Registrant Name | SEACHANGE INTERNATIONAL INC | ||
Entity Central Index Key | 1,019,671 | ||
Current Fiscal Year End Date | --01-31 | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Filer Category | Accelerated Filer | ||
Entity Common Stock, Shares Outstanding | 35,312,255 | ||
Entity Public Float | $ 109,408,093 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Jan. 31, 2017 | Jan. 31, 2016 |
Current assets: | ||
Cash and cash equivalents | $ 28,302 | $ 58,733 |
Restricted cash | 109 | 82 |
Marketable securities | 5,253 | 1,504 |
Accounts and other receivables, net of allowance for doubtful accounts of $876 and $415 at January 31, 2017 and January 31, 2016, respectively | 25,985 | 26,331 |
Unbilled receivables | 6,553 | 10,680 |
Inventories, net | 770 | 1,682 |
Prepaid expenses and other current assets | 2,393 | 3,827 |
Total current assets | 69,365 | 102,839 |
Property and equipment, net | 11,485 | 14,129 |
Marketable securities, long-term | 4,991 | 10,764 |
Investments in affiliates | 2,000 | 2,500 |
Intangible assets, net | 2,603 | 4,126 |
Goodwill, net | 23,287 | 40,175 |
Other assets | 2,336 | 3,136 |
Total assets | 116,067 | 177,669 |
Current liabilities: | ||
Accounts payable | 4,978 | 6,132 |
Deferred stock consideration | 3,205 | |
Deferred revenues | 12,517 | 16,201 |
Other accrued expenses | 9,928 | 17,414 |
Total current liabilities | 27,423 | 42,952 |
Deferred revenues, long-term | 2,419 | 1,209 |
Taxes payable, long-term | 1,427 | 1,389 |
Deferred tax liabilities, long-term | 14,732 | |
Other liabilities, long-term | 530 | 1,101 |
Total liabilities | 46,531 | 46,651 |
Commitments and contingencies (Note 8) | ||
Stockholders' equity: | ||
Common stock, $0.01 par value; 100,000,000 shares authorized; 35,339,232 shares issued and 35,298,742 outstanding at January 31, 2017, and 33,818,777 shares issued and 33,778,871 outstanding at January 31, 2016 | 353 | 338 |
Additional paid-in capital | 236,677 | 228,164 |
Treasury stock, at cost; 40,490 and 39,906 common shares at January 31, 2017 and January 31, 2016, respectively | (5) | (2) |
Accumulated loss | (162,118) | (90,869) |
Accumulated other comprehensive loss | (5,371) | (6,613) |
Total stockholders' equity | 69,536 | 131,018 |
Total liabilities and stockholders' equity | $ 116,067 | $ 177,669 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands | Jan. 31, 2017 | Jan. 31, 2016 |
Statement of Financial Position [Abstract] | ||
Allowance for doubtful accounts receivable | $ 876 | $ 415 |
Common stock, par value | $ 0.01 | $ 0.01 |
Common stock, shares authorized | 100,000,000 | 100,000,000 |
Common stock, shares issued | 35,339,232 | 33,818,777 |
Common stock, shares outstanding | 35,298,742 | 33,778,871 |
Treasury stock, common shares | 40,490 | 39,906 |
Consolidated Statements of Oper
Consolidated Statements of Operations and Comprehensive Loss - USD ($) shares in Thousands, $ in Thousands | 12 Months Ended | |||
Jan. 31, 2017 | Jan. 31, 2016 | Jan. 31, 2015 | ||
Revenues: | ||||
Products | $ 18,205 | $ 21,896 | $ 31,507 | |
Services | 65,590 | 85,096 | 83,928 | |
Total revenues | 83,795 | 106,992 | 115,435 | |
Cost of revenues: | ||||
Products | 6,453 | 6,013 | 8,845 | |
Services | 37,865 | 44,159 | 48,272 | |
Provision for loss contract | (4,118) | 9,162 | ||
Amortization of intangible assets | 1,283 | 739 | 1,070 | |
Stock-based compensation expense | 132 | 80 | 141 | |
Total cost of revenues | 41,615 | 60,153 | 58,328 | |
Gross profit | 42,180 | 46,839 | 57,107 | |
Operating expenses: | ||||
Research and development | 30,093 | 33,696 | 42,169 | |
Selling and marketing | 14,033 | 15,197 | 13,920 | |
General and administrative | 16,173 | 15,470 | 16,014 | |
Amortization of intangible assets | 2,019 | 4,041 | 4,084 | |
Stock-based compensation expense | 2,489 | 3,472 | 3,079 | |
Earn-outs and change in fair value of earn-outs | 249 | |||
Professional fees-other | 347 | 637 | 671 | |
Severance and other restructuring costs | 7,151 | 1,061 | 3,623 | |
Loss on impairment of long-lived assets | 23,772 | 21,464 | ||
Total operating expenses | 96,326 | 95,038 | 83,560 | |
Loss from operations | (54,146) | (48,199) | (26,453) | |
Other expenses, net | (1,972) | (523) | (2,161) | |
Loss of investment in affiliates | (500) | (31) | ||
Loss from continuing operations before income taxes and equity income in earnings of affiliates | (56,618) | (48,753) | (28,614) | |
Income tax provision (benefit) | 14,631 | (1,029) | (1,106) | |
Equity income in earnings of affiliates, net of tax | 27 | 19 | ||
Loss from continuing operations | (71,249) | (47,697) | (27,489) | |
Income from discontinued operations, net of tax | 5 | |||
Net loss | (71,249) | (47,697) | (27,484) | |
Net loss | (71,249) | (47,697) | (27,484) | |
Other comprehensive loss, net of tax: | ||||
Foreign currency translation adjustment | 1,267 | (847) | (3,647) | |
Unrealized (loss) gain on marketable securities | [1] | (25) | (12) | 25 |
Comprehensive loss | $ (70,007) | $ (48,556) | $ (31,106) | |
Net loss per share: | ||||
Basic | $ (2.04) | $ (1.42) | $ (0.84) | |
Diluted | (2.04) | (1.42) | (0.84) | |
Net loss per share from continuing operations: | ||||
Basic | (2.04) | (1.42) | (0.84) | |
Diluted | $ (2.04) | $ (1.42) | (0.84) | |
Net income (loss) per share from discontinued operations: | ||||
Basic | 0 | |||
Diluted | $ 0 | |||
Weighted average common shares outstanding: | ||||
Basic | 34,970 | 33,506 | 32,772 | |
Diluted | 34,970 | 33,506 | 32,772 | |
[1] | Tax amounts for all periods were not significant |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 31, 2017 | Jan. 31, 2016 | Jan. 31, 2015 | |
Cash flows from operating activities: | |||
Net loss | $ (71,249) | $ (47,697) | $ (27,484) |
Net income from discontinued operations | (5) | ||
Adjustments to reconcile net loss to net cash used in continuing operating activities: | |||
Depreciation and amortization of property and equipment | 2,953 | 3,380 | 3,683 |
Provision for loss contract | (4,118) | 9,162 | |
Amortization of intangible assets | 3,302 | 4,780 | 5,154 |
Provision for bad debts | 597 | 58 | 80 |
Stock-based compensation expense | 2,621 | 3,552 | 3,220 |
Deferred income taxes | 14,676 | (985) | (372) |
Loss on impairment of long-lived assets | 23,772 | 21,464 | |
Other non-cash reconciling items, net | 1,121 | 139 | 432 |
Changes in operating assets and liabilities, excluding impact of acquisitions: | |||
Accounts receivable | 42 | (1,721) | 3,567 |
Unbilled receivables | 4,694 | (4,359) | (1,993) |
Inventories | 806 | (937) | 3,183 |
Prepaid expenses and other assets | 1,378 | (1,097) | 1,570 |
Accounts payable | (1,674) | 874 | (1,619) |
Accrued expenses | (5,055) | (2,713) | 1,650 |
Deferred revenues | (2,417) | (1,431) | (5,699) |
Other operating activities | 30 | (1,132) | 1,289 |
Net cash used in operating activities from continuing operations | (28,521) | (18,663) | (13,344) |
Net cash provided by operating activities from discontinued operations | 5 | ||
Total cash used in operating activities | (28,521) | (18,663) | (13,339) |
Cash flows from investing activities: | |||
Purchases of property and equipment | (683) | (1,397) | (1,873) |
Investment in capitalized software | (2,440) | ||
Purchases of marketable securities | (2,008) | (9,033) | (9,193) |
Proceeds from sale and maturity of marketable securities | 4,005 | 11,043 | 7,181 |
Proceeds from (purchase of) cost method investments, net | 464 | (2,000) | |
Acquisition of businesses and payment of contingent consideration, net of cash acquired | (5,243) | (11,686) | |
Advance for TLL, LLC acquisition | (2,500) | ||
Other investing activities | 30 | (79) | 229 |
Total cash used in investing activities | (3,899) | (13,128) | (8,156) |
Cash flows from financing activities: | |||
Proceeds from issuance of common stock | 60 | 193 | |
Repurchase of our common stock | (5,504) | ||
Total cash provided by (used in) financing activities | 60 | 193 | (5,504) |
Effect of exchange rate changes on cash | 1,929 | 312 | 1,284 |
Net decrease in cash and cash equivalents | (30,431) | (31,286) | (25,715) |
Cash and cash equivalents, beginning of period | 58,733 | 90,019 | 115,734 |
Cash and cash equivalents, end of period | 28,302 | 58,733 | 90,019 |
Supplemental disclosure of cash flow information: | |||
Income taxes paid | 178 | 640 | 671 |
Interest paid | 6 | 6 | 6 |
Supplemental disclosure of non-cash investing and financing activities: | |||
Transfer of items originally classified as inventories to equipment | 24 | 532 | $ 474 |
DCC Labs [Member] | |||
Supplemental disclosure of non-cash investing and financing activities: | |||
Fair value of common stock issued for acquisition | 2,640 | ||
Timeline Labs [Member] | |||
Adjustments to reconcile net loss to net cash used in continuing operating activities: | |||
Loss on impairment of long-lived assets | 21,900 | ||
Supplemental disclosure of non-cash investing and financing activities: | |||
Fair value of common stock issued for acquisition | 3,019 | ||
Common Stock [Member] | |||
Supplemental disclosure of non-cash investing and financing activities: | |||
Fair value of common stock issued for deferred stock consideration obligation | $ 3,452 | $ 1,754 |
Consolidated Statements of Stoc
Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands | Total | Timeline Labs [Member] | DCC Labs [Member] | Common Stock [Member] | Common Stock [Member]Timeline Labs [Member] | Common Stock [Member]DCC Labs [Member] | Additional Paid-In Capital [Member] | Additional Paid-In Capital [Member]Timeline Labs [Member] | Additional Paid-In Capital [Member]DCC Labs [Member] | Accumulated Deficit [Member] | Cumulative Translation Adjustment [Member] | Unrealized Gain/Loss on Investments [Member] | Treasury Stock [Member] |
Beginning balance at Jan. 31, 2014 | $ 204,441 | $ 330 | $ 221,932 | $ (15,688) | $ (2,150) | $ 18 | $ (1) | ||||||
Beginning balance, Shares at Jan. 31, 2014 | 33,037,671 | (39,784) | |||||||||||
Issuance of common stock pursuant to exercise of stock options, Shares | 0 | ||||||||||||
Issuance of common stock pursuant to vesting of restricted stock units | $ 3 | (3) | |||||||||||
Issuance of common stock pursuant to vesting of restricted stock units, Shares | 287,485 | ||||||||||||
Purchase of treasury shares | $ (5,498) | (5,498) | |||||||||||
Purchase of treasury shares, Shares | (591,520) | ||||||||||||
Retirement of shares | (6) | $ (6) | |||||||||||
Retirement of shares, Shares | (591,520) | 591,520 | |||||||||||
Stock-based compensation expense | 3,220 | 3,220 | |||||||||||
Change in fair value on marketable securities | 25 | 25 | |||||||||||
Translation adjustment | (3,647) | (3,647) | |||||||||||
Net loss | (27,484) | (27,484) | |||||||||||
Ending balance at Jan. 31, 2015 | 171,051 | $ 327 | 219,651 | (43,172) | (5,797) | 43 | $ (1) | ||||||
Ending balance, Shares at Jan. 31, 2015 | 32,733,636 | (39,784) | |||||||||||
Issuance of common stock pursuant to exercise of stock options | $ 193 | 193 | |||||||||||
Issuance of common stock pursuant to exercise of stock options, Shares | 28,740 | 28,740 | |||||||||||
Issuance of common stock pursuant to vesting of restricted stock units | $ 3 | (3) | |||||||||||
Issuance of common stock pursuant to vesting of restricted stock units, Shares | 278,544 | ||||||||||||
Issuance of common stock pursuant to the acquisition | $ 4,779 | $ 8 | $ 4,771 | ||||||||||
Issuance of common stock pursuant to the acquisition, Shares | 777,857 | ||||||||||||
Purchase of treasury shares | $ (1) | $ (1) | |||||||||||
Purchase of treasury shares, Shares | (122) | ||||||||||||
Stock-based compensation expense | 3,552 | 3,552 | |||||||||||
Change in fair value on marketable securities | (12) | (12) | |||||||||||
Translation adjustment | (847) | (847) | |||||||||||
Net loss | (47,697) | (47,697) | |||||||||||
Ending balance at Jan. 31, 2016 | $ 131,018 | $ 338 | 228,164 | (90,869) | (6,644) | 31 | $ (2) | ||||||
Ending balance, Shares at Jan. 31, 2016 | 33,818,777 | (39,906) | |||||||||||
Issuance of common stock pursuant to exercise of stock options, Shares | 0 | ||||||||||||
Issuance of common stock pursuant to vesting of restricted stock units | $ 2 | $ 2 | |||||||||||
Issuance of common stock pursuant to vesting of restricted stock units, Shares | 208,474 | ||||||||||||
Issuance of common stock pursuant to the acquisition | $ 3,203 | $ 2,640 | $ 5 | $ 7 | $ 3,198 | $ 2,633 | |||||||
Issuance of common stock pursuant to the acquisition, Shares | 542,274 | 681,278 | |||||||||||
Issuance of common stock pursuant to TLL purchase adjustment mechanism | 249 | $ 1 | 248 | ||||||||||
Issuance of common stock pursuant to TLL purchase adjustment mechanism, Shares | 70,473 | ||||||||||||
Issuance of common stock pursuant to ESPP purchases | 61 | 61 | |||||||||||
Issuance of common stock pursuant to ESPP purchases, Shares | 17,956 | ||||||||||||
Purchase of treasury shares | (3) | $ (3) | |||||||||||
Purchase of treasury shares, Shares | (584) | ||||||||||||
Stock-based compensation expense | 2,621 | 2,621 | |||||||||||
Fiscal 2016 compensation paid in restricted stock units | (248) | (248) | |||||||||||
Change in fair value on marketable securities | (25) | (25) | |||||||||||
Translation adjustment | 1,267 | 1,267 | |||||||||||
Net loss | (71,249) | (71,249) | |||||||||||
Ending balance at Jan. 31, 2017 | $ 69,536 | $ 353 | $ 236,677 | $ (162,118) | $ (5,377) | $ 6 | $ (5) | ||||||
Ending balance, Shares at Jan. 31, 2017 | 35,339,232 | (40,490) |
Nature of Business
Nature of Business | 12 Months Ended |
Jan. 31, 2017 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Nature of Business | 1. Nature of Business We are an industry leader in the delivery of multiscreen video, advertising and premium over-the-top |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Jan. 31, 2017 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | 2. Summary of Significant Accounting Policies Significant accounting policies followed in the preparation of the accompanying consolidated financial statements are as follows: Basis of Presentation and Principles of Consolidation The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”). We consolidate the financial statements of our wholly-owned subsidiaries and all intercompany transactions and account balances have been eliminated in consolidation. We have reclassified certain prior period data to conform to our current fiscal year presentation. We also hold minority investments in the capital stock of certain private companies having product offerings or customer relationships that have strategic importance. We evaluate our equity and debt investments and other contractual relationships with affiliate companies to determine whether the guidelines regarding the consolidation of variable interest entities (“VIEs”) should be applied in the financial statements. We use qualitative analysis to determine whether or not we are the primary beneficiary of a VIE. We consider the rights and obligations conveyed by the implicit and explicit variable interest in each VIE and the relationship of these with the variable interests held by other parties to determine whether its variable interests will absorb most of a VIEs expected losses, receive most of its expected residual returns, or both. If we determine that our variable interests will absorb most of the VIEs expected losses, receive most of their expected residual returns, or both, we consolidate the VIE as the primary beneficiary, and if not, it is not consolidated. We have concluded that we are not the primary beneficiary for any VIEs during fiscal 2016. The Company believes that existing funds and cash provided by future operating activities are adequate to satisfy our working capital, potential acquisitions and capital expenditure requirements and other contractual obligations for the foreseeable future, including at least the next 12 months. However, if our expectations are incorrect, we may need to raise additional funds to fund our operations, to take advantage of unanticipated strategic opportunities or to strengthen our financial position. In the future, we may enter into other arrangements for potential investments in, or acquisitions of, complementary businesses, services or technologies, which could require us to seek additional equity or debt financing. Additional funds may not be available on terms that are favorable. In addition, we actively review potential acquisitions that would complement our existing product offerings, enhance our technical capabilities or expand our marketing and sales presence. Any future transaction of this nature could require potentially significant amounts of capital or could require us to issue our stock and dilute existing stockholders. If adequate funds are not available, or are not available on acceptable terms, we may not be able to take advantage of market opportunities, to develop new products or to otherwise respond to competitive pressures. In the second quarter of fiscal 2017, following a review of our operations, liquidity and funding, and investment in our product roadmap, we determined that the ability to access cash resulting from earnings in prior fiscal years that had previously been deemed permanently restricted for foreign investment would provide greater flexibility to meet the Company’s working capital needs. Accordingly, in the second quarter of fiscal 2017, we withdrew the permanent reinvestment assertion on $58.6 million of earnings generated by our Irish operations through July 2016. We recorded a deferred tax liability of $14.7 million related to the foreign income taxes on $58.6 million of undistributed earnings. Use of Estimates The preparation of these financial statements in conformity with U.S. GAAP requires management to make estimates and judgments that affect the reported amounts of assets, liabilities, revenues and expenses, and disclosure of contingent assets and liabilities. On an ongoing basis, management evaluates these estimates and judgments, including those related to the timing and amounts of revenue recognition, valuation of inventory, collectability of accounts receivable, valuation of investments and income taxes, assumptions used to determine stock-based compensation, valuation of goodwill and intangible assets and related amortization. Management bases these estimates on historical and anticipated results and trends and on various other assumptions that management believes are reasonable under the circumstances, including assumptions as to future events. These estimates form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. By their nature, estimates are subject to an inherent degree of uncertainty. Actual results may differ from management’s estimates. Cash and Cash Equivalents Cash and cash equivalents include cash on hand and on deposit and highly liquid investments in money market mutual funds, government sponsored enterprise obligations, treasury bills, commercial paper and other money market securities with remaining maturities at date of purchase of 90 days or less. All cash equivalents are carried at cost, which approximates fair value. Marketable Securities We account for investments in accordance with authoritative guidance that defines investment classifications. We determine the appropriate classification of debt securities at the time of purchase and reevaluate such designation as of each balance sheet date. Our investment portfolio consists primarily of money market funds, U.S. treasury notes or bonds and U.S. government agency bonds at January 31, 2017 and 2016, but can consist of corporate debt investments, asset-backed securities and government-sponsored enterprises. Our marketable securities are classified as available-for-sale We evaluate our investments on a regular basis to determine whether an other-than-temporary decline in fair value has occurred. This evaluation consists of a review of several factors, including, but not limited to: the length of time and extent that an investment has been in an unrealized loss position; the existence of an event that would impair the issuer’s future earnings potential; and our intent and ability to hold an investment for a period of time sufficient to allow for any anticipated recovery in fair value. Declines in value below cost for investments where it is considered probable that all contractual terms of the investment will be satisfied, are due primarily to changes in interest rates, and where the company has the intent and ability to hold the investment for a period sufficient to allow a market recovery, are not assumed to be other-than-temporary. Any other-than-temporary declines in fair value are recorded in earnings and a new cost basis for the investment is established. Fair Value Measurements Definition and Hierarchy The applicable accounting guidance defines fair value as the exchange price that would be received for an asset or paid to transfer a liability in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. The guidance establishes a framework for measuring fair value and expands required disclosure about the fair value measurements of assets and liabilities. This guidance requires us to classify and disclose assets and liabilities measured at fair value on a recurring basis, as well as fair value measurements of assets and liabilities measured on a non-recurring The fair value hierarchy is broken down into three levels based on the reliability of inputs and requires an entity to maximize the use of observable inputs, where available. The following summarizes the three levels of inputs required, as well as the assets and liabilities that we value using those levels of inputs: • Level 1—Observable inputs that reflect quoted prices for identical assets or liabilities in active markets. • Level 2—Observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not very active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. • Level 3—Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. The fair value measurements of the contingent consideration obligations related to our business acquisitions are valued using Level 3 inputs. Valuation Techniques Inputs to valuation techniques are observable and unobservable. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect our market assumptions. When developing fair value estimates for certain financial assets and liabilities, we maximize the use of observable inputs and minimize the use of unobservable inputs. When available, we use quoted market prices, market comparables and discounted cash flow projections. Financial assets include money market funds, U.S. treasury notes or bonds and U.S. government agency bonds. In general, and where applicable, we use quoted prices in active markets for identical assets or liabilities to determine fair value. If quoted prices in active markets for identical assets or liabilities are not available to determine fair value, then we use quoted prices for similar assets and liabilities or inputs that are observable either directly or indirectly. In periods of market inactivity, the observability of prices and inputs may be reduced for certain instruments. This condition could cause an instrument to be reclassified from Level 1 to Level 2 or from Level 2 to Level 3. Concentration of Credit Risk Financial instruments which potentially expose us to concentrations of credit risk include cash equivalents, investments in treasury bills, certificates of deposits and commercial paper, trade accounts receivable, accounts payable and accrued liabilities. We have cash investment policies which, among other things, limit investments to investment-grade securities. We restrict our cash equivalents and investments in marketable securities to repurchase agreements with major banks and U.S. government and corporate securities which are subject to minimal credit and market risk. We perform ongoing credit evaluations of our customers. As of January 31, 2017, two customers represented more than 10% of consolidated accounts receivable while as of January 31, 2016, one customer did. For fiscal 2017, one customer accounted for more than 10% of our total revenue compared to two customers accounting for more than 10% of our total revenue in fiscal 2016 and 2015. Accounts Receivable and Allowances for Doubtful Accounts For trade accounts receivable, we evaluate customers’ financial condition, require advance payments from certain of our customers and maintain reserves for potential credit losses. We perform ongoing credit evaluations of customers’ financial condition but generally do not require collateral. For some international customers, we may require an irrevocable letter of credit to be issued by the customer before the purchase order is accepted. We monitor payments from customers and assess any collection issues. We maintain an allowance for specific doubtful accounts for estimated losses resulting from the inability of our customers to make required payments and record these allowances as a charge to general and administrative expenses in our consolidated statements of operations and comprehensive loss. We base our allowances for doubtful accounts on historical collections and write-off Inventory Valuation Inventories are stated at the lower of cost or net realizable value. Cost is determined using the first-in, first-out Property and Equipment Property and equipment consists of land and buildings, office and computer equipment, leasehold improvements, demonstration equipment, deployed assets and spare components and assemblies used to service our installed base. Property and equipment are recorded at cost, net of accumulated depreciation and amortization, and are depreciated over their estimated useful lives. Determining the useful lives of property and equipment requires us to make significant judgments that can materially impact our operating results. If our estimates require adjustment, it could have a material impact on our reported results. Demonstration equipment consists of systems manufactured by us for use in marketing and selling activities. Leasehold improvements are amortized over the shorter of their estimated useful lives or the term of the respective leases using the straight-line method. Deployed assets consist of movie systems owned and manufactured by us that are installed in a hotel environment. Deployed assets are depreciated over the life of the related service agreements. Capitalized service and spare components are depreciated over the estimated useful lives using the straight-line method. Maintenance and repair costs are expensed as incurred. Generally, property and equipment include assets in service. Fully depreciated assets remaining in service along with related accumulated depreciation are not removed from the balance sheet until the corresponding asset is removed from service either through a retirement or sale. Upon retirement or sale of an asset or asset group, the cost of the assets disposed of and the related accumulated depreciation are removed from the accounts and the resulting gain or loss, if any, is recognized in other expenses, net in our consolidated statements of operations and comprehensive loss. Investments in Affiliates Our investments in affiliates include investments accounted for under the cost method of accounting as the investments represent less than a 20% ownership interest of the common shares of the affiliate. We periodically review indicators of the fair value of our investments in affiliates to assess whether available facts or circumstances, both internally and externally, may suggest an other-than-temporary decline in the value of the investment. If we determine that an other-than-temporary impairment has occurred, we will write-down the investment to its fair value. The carrying value of an investment in an affiliate accounted for under the cost method of accounting may be affected by the affiliate’s ability to obtain adequate funding and execute its business plans, general market conditions, its current cash position, earnings and cash flow forecasts, recent operational performance, and any other readily available data. We record an impairment charge when we believe an investment has experienced a decline in value that is other-than-temporary. In January 2017, we recorded a $0.5 million impairment charge to loss on impairment of long-lived assets in our consolidated statements of operations and comprehensive loss for one of our cost-method investments as we determined that the fair value of the investment was below its carrying value and that the carrying value was not expected to be recoverable within a reasonable amount of time (see Note 3, “Fair Value Measurements” 10-K Intangible Assets and Goodwill Intangible assets consist of customer contracts, completed technology, non-compete Intangible assets with finite useful lives: Customer contracts 1 - 8 years Non-compete 2 - 3 years Completed technology 4 - 6 years Trademarks, patents and other 5 - 7 years Certain costs incurred in the application development phase of software development for internal use are capitalized and amortized over the product’s estimated useful life, which is three years. The Company expenses all costs incurred that relate to planning and post implementation phases of development. Capitalized costs related to internally developed software under development are treated as construction in progress until the technology is available for intended use, at which time the amortization commences. Capitalized internally developed software costs were $2.7 million as of January 31, 2017. Maintenance and training costs are expensed as incurred. Goodwill is recorded when the consideration for an acquisition exceeds the fair value of net tangible and identifiable intangible assets acquired. Impairment of Assets Indefinite-lived intangible assets, such as goodwill, are not amortized but are evaluated for impairment at the reporting unit level annually, in our third quarter beginning August 1 st The process of evaluating indefinite-lived intangible assets for impairment requires several judgments and assumptions to be made to determine the fair value, including the method used to determine fair value, discount rates, expected levels of cash flows, revenues and earnings, and the selection of comparable companies used to develop market-based assumptions. We may employ the three generally accepted approaches for valuing businesses: the market approach, the income approach and the asset-based (cost) approach to arrive at the fair value. The choice of which approach and methods to use in a particular situation depends on the facts and circumstances. We also evaluate property and equipment, intangible assets with finite useful lives and other long-lived assets on a regular basis for the existence of facts or circumstances, both internal and external that may suggest an asset is not recoverable. If such circumstances exist, we evaluate the carrying value of long-lived assets to determine if impairment exists based upon estimated undiscounted future cash flows over the remaining useful life of the assets and compare that value to the carrying value of the assets. Our cash flow estimates contain management’s best estimates, using appropriate and customary assumptions and projections at the time. In the third quarter of fiscal 2017, we finalized our “Step 1” analysis of our annual goodwill impairment test. Our forecast indicated that the estimated fair value of net assets may be less than its carrying value which is a potential indicator of impairment. As such, we were required to perform “Step 2” of the impairment test during which we compared the implied fair value of our goodwill to its carrying value. We completed the goodwill impairment testing of our reporting unit during the fourth quarter of fiscal 2017. Since the implied fair value of goodwill was determined to be lower than its carrying value, we recorded an impairment charge of $23.5 million to loss on impairment of long-lived assets in our consolidated statements of operations and comprehensive loss (see Note 6, “Goodwill and Intangible Assets” 10-K In January 2017, after a potential buyer declined to purchase our facility in Greenville, New Hampshire, we determined that the sale of this facility was not imminent due to the location of the building and the overall market conditions in the area. Consequently, we decided to fully impair the facility since we felt the carrying amount was greater than the fair value. As a result, we recorded a $0.3 million loss on impairment of long-lived assets in our consolidated statements of operations and comprehensive loss. In the fourth quarter of fiscal 2017, a certain cost-method investment was determined to be impaired and written off. Accordingly, we recorded a $0.5 million impairment charge in January 2017 which is included in loss on investment in affiliates in our consolidated statements of operations and comprehensive loss. The cost-method investment is a privately-held entity without quoted market prices and therefore, falls within Level 3 of the fair value hierarchy due to the use of significant unobservable inputs to determine its fair value. In determining the fair value of this cost-method investment, we considered many factors including, but not limited to, operating performance of the investee, the amount of cash that the investee has on hand and the overall market conditions in which the investee operates. As of January 31, 2016, the Company reviewed the projected future cash flows of the Timeline Labs operations and determined that the carrying amount was greater than the fair value. As a result, all long-term assets related to Timeline Labs were fully impaired and reflected as a $21.9 million loss on impairment of long-lived assets in our consolidated statements of operations and comprehensive loss for the fiscal year ended January 31, 2016 which included: i) $15.8 million relating to the Timeline Labs acquired goodwill, ii) $5.2 million of acquired intangible assets, and iii) $0.9 million of capitalized internal use software. Additionally, we reduced the contingent consideration liability associated with the Timeline Labs acquisition to zero, as we determined the defined performance criteria would not be achieved. Therefore, we recorded the reversal of the liability of $0.4 million to the loss on impairment of long-lived assets. The amount of goodwill impaired represented all the goodwill that resulted from this acquisition due to the short duration of time between the acquisition and the event causing us to impair the assets. Income Taxes Income tax comprises current and deferred tax. Income tax is recognized in the consolidated statements of operations and comprehensive loss except to the extent that it relates to items recognized directly within equity or in other comprehensive loss. Income taxes payable, which is included in other accrued expenses in our consolidated balance sheets, is the expected tax payable on the taxable income for the year, using tax rates enacted or substantially-enacted at the reporting date, and any adjustment to tax payable in respect of previous years. Deferred tax assets and liabilities are recognized, using the balance sheet method, for the expected tax consequences of temporary differences between the carrying amounts of assets and liabilities and the amounts used for taxation purposes. Deferred tax is not recognized for the following temporary differences: the initial recognition of goodwill, the initial recognition of assets and liabilities in a transaction that is not a business combination and that affects neither accounting nor taxable profit, and differences relating to investments in subsidiaries to the extent that they probably will not reverse in the foreseeable future. Deferred tax is measured at the tax rates that are expected to be applied to temporary differences when they reverse, based on the laws that have been enacted or substantially-enacted by the reporting date. A deferred tax asset is recognized for unused tax losses, tax credits and deductible temporary differences, to the extent that it is probable that future taxable profits will be available against which they can be utilized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income in the countries where the deferred tax assets originated and during the periods when the deferred tax assets become deductible. Management considers the scheduled reversal of deferred tax liabilities, projected future taxable income, and tax planning strategies in making this assessment. We operate in multiple jurisdictions with complex tax policy and regulatory environments. In certain of these jurisdictions, we may take tax positions that management believes are supportable, but are potentially subject to successful challenge by the applicable taxing authority. These interpretational differences with the respective governmental taxing authorities can be impacted by the local economic and fiscal environment. We evaluate our tax positions and establish liabilities in accordance with the applicable accounting guidance on uncertainty in income taxes. We review these tax uncertainties in light of changing facts and circumstances, such as the progress of tax audits, and adjust them accordingly. Because there are several estimates and assumptions inherent in calculating the various components of our tax provision, certain changes or future events such as changes in tax legislation, geographic mix of earnings, completion of tax audits or earnings repatriation plans could have an impact on those estimates and our effective tax rate. Restructuring Restructuring charges that we record consist of employee-related severance charges, termination costs and the disposal of related equipment. Restructuring charges represent our best estimate of the associated liability at the date the charges are recognized. Adjustments for changes in assumptions are recorded as a component of operating expenses in the period they become known. Differences between actual and expected charges and changes in assumptions could have a material effect on our restructuring accrual as well as our consolidated results of operations. See Note 7, “Severance and Other Restructuring Costs,” 10-K Foreign Currency Translation For subsidiaries where the U.S. dollar is designated as the functional currency of the entity, we translate that entity’s monetary assets and liabilities denominated in local currencies into U.S. dollars (the functional and reporting currency) at current exchange rates, as of each balance sheet date. Non-monetary For subsidiaries where the local currency is designated as the functional currency, we translate their assets and liabilities into U.S. dollars (the reporting currency) at current exchange rates as of each balance sheet date. Revenue and expense items are translated using average exchange rates during the period. Cumulative translation adjustments are presented as a separate component of stockholders’ equity. Exchange gains and losses on foreign currency transactions and unrealized gains and losses on short-term inter-company transactions are included in other expenses, net. The aggregate foreign exchange transaction losses included in other expenses, net, on the consolidated statements of operations and comprehensive loss, were $2.1 million, $0.7 million and approximately $2.3 million for fiscal 2017, 2016 and 2015, respectively. Comprehensive Loss We present accumulated other comprehensive loss in our consolidated balance sheets and comprehensive loss in the consolidated statement of operations and comprehensive loss. At the end of fiscal 2017, 2016 and 2015, our comprehensive loss of $70.0 million, $48.6 million and $31.1 million consists of net loss, cumulative translation adjustments and unrealized gains and losses on marketable securities. Revenue Recognition Our transactions frequently involve the sales of hardware, software, systems and services in multiple-element arrangements. Revenues from sales of hardware, software and systems that do not require significant modification or customization of the underlying software are recognized when: • persuasive evidence of an arrangement exists; • delivery has occurred, and title and risk of loss have passed to the customer; • fees are fixed or determinable; and • collection of the related receivable is considered probable. Customers are billed for installation, training, project management and at least one year of product maintenance and technical support at the time of the product sale. Revenue from these activities is deferred at the time of the product sale and recognized ratably over the period these services are performed. Revenue from ongoing product maintenance and technical support agreements is recognized ratably over the period of the related agreements. Revenue from software development contracts that include significant modification or customization, including software product enhancements, is recognized based on the percentage of completion contract accounting method using labor efforts expended in relation to estimates of total labor efforts to complete the contract. The percentage of completion method requires that adjustments or re-evaluations project-to-date out-of-pocket Contract accounting requires judgment relative to assessing risks, estimating revenues and costs and making assumptions including, in the case of our professional services contracts, the total amount of labor required to complete a project and the complexity of the development and other technical work to be completed. Due to the size and nature of many of our contracts, the estimation of total revenues and cost at completion is complicated and subject to many variables. Assumptions must be made regarding the length of time to complete the contract because costs also include estimated third-party vendor and contract labor costs. Penalties related to performance on contracts are considered in estimating sales and profit, and are recorded when there is sufficient information for us to assess anticipated performance. Third-party vendors’ assertions are also assessed and considered in estimating costs and margin. Revenue from the sale of software-only products remains within the scope of the software revenue recognition rules. Maintenance and support, training, consulting, and installation services no longer fall within the scope of the software revenue recognition rules, except when they are sold with and relate to a software-only product. Revenue recognition for products that no longer fall under the scope of the software revenue recognition rules is like that for other tangible products and Accounting Standard Update No. (“ASU”) 2009-13, “Revenue Recognition (Topic 605): Multiple-Deliverable Revenue Arrangements,” 2009-13 Under the software revenue recognition rules, the fee is allocated to the various elements based on vendor-specific objective evidence (“VSOE”) of fair value. Under this method, the total arrangement value is allocated first to undelivered elements based on their fair values, with the remainder being allocated to the delivered elements. Where fair value of undelivered service elements has not been established, the total arrangement value is recognized over the period during which the services are performed. The amounts allocated to undelivered elements, which may include project management, training, installation, maintenance and technical support and certain hardware and software components, are based upon the price charged when these elements are sold separately and unaccompanied by the other elements. The amount allocated to installation, training and project management revenue is based upon standard hourly billing rates and the estimated time necessary to complete the service. These services are not essential to the functionality of systems as these services do not alter the equipment’s capabilities, are available from other vendors and the systems are standard products. For multiple-element arrangements that include software development with significant modification or customization and systems sales where VSOE of the fair value does not exist for the undelivered elements of the arrangement (other than maintenance and technical support), percentage of completion accounting is applied for revenue recognition purposes to the entire arrangement except for maintenance and technical support. Under the revenue recognition rules for tangible products as amended by ASU 2009-13, The selling prices used in the relative selling price allocation method for certain of our services are based upon VSOE. The selling prices used in the relative selling price allocation method for third-party products from other vendors are based upon TPE. The selling prices used in the relative selling price allocation method for our hardware products, software, subscriptions, and customized services for which VSOE does not exist are based upon BESP. We do not believe TPE exists for these products and services because they are differentiated from competing products and services in terms of functionality and performance and there are no competing products or services that are largely interchangeable. Management establishes BESP with consideration for market conditions, such as the impact of competition and geographic considerations, and entity-specific factors, such as the cost of the product, discounts provided and profit objectives. Management believes that BESP is reflective of reasonable pricing of that deliverable as if priced on a stand-alone basis. For our cloud and managed service revenues, we generate revenue from two sources: (1) subscription and support services; and (2) professional services and other. Subscription and support revenue includes subscription fees from customers accessing our cloud-based s |
Fair Value Measurements
Fair Value Measurements | 12 Months Ended |
Jan. 31, 2017 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements | 3. Fair Value Measurements Assets and Liabilities that are Measured at Fair Value on a Recurring Basis The following tables set forth our financial assets and liabilities that were accounted for at fair value on a recurring basis as of January 31, 2017 and January 31, 2016. There were no fair value measurements of our financial assets and liabilities using significant level 3 inputs for the periods presented: Fair Value at January 31, 2017 Using January 31, Quoted Prices in Active Markets for Significant (Level 2) (Amounts in thousands) Financial assets: Money market accounts (a) $ 2,726 $ 2,726 $ — Available-for-sale Current marketable securities: U.S. treasury notes and bonds—conventional 4,253 4,253 — U.S. government agency issues 1,000 — 1,000 Non-current U.S. treasury notes and bonds—conventional 1,997 1,997 — U.S. government agency issues 2,994 — 2,994 Total $ 12,970 $ 8,976 $ 3,994 Fair Value at January 31, 2016 Using January 31, Quoted Prices in Active Markets for Significant (Level 2) (Amounts in thousands) Financial assets: Money market accounts (a) $ 3,654 $ 3,654 $ — Available-for-sale Current marketable securities: U.S. treasury notes and bonds—conventional 502 502 — U.S. government agency issues 1,002 — 1,002 Non-current U.S. treasury notes and bonds—conventional 7,762 7,762 — U.S. government agency issues 3,002 — 3,002 Total $ 15,922 $ 11,918 $ 4,004 a) Money market funds and U.S. treasury bills are included in cash and cash equivalents on the accompanying consolidated balance sheets and are valued at quoted market prices for identical instruments in active markets. Assets and Liabilities that are Measured at Fair Value on a Nonrecurring Basis Assets and liabilities that are measured at fair value on a nonrecurring basis relate primarily to our tangible property and equipment, goodwill, and other intangible assets, which are re-measured In the third quarter of fiscal 2017, we finalized our “Step 1” analysis of our annual goodwill impairment test. Our forecast indicated that the estimated fair value of our reporting unit’s net assets may be less than its carrying value which is a potential indicator of impairment. As such, we were required to perform “Step 2” of the impairment test during which we compared the implied fair value of our goodwill to its carrying value. We completed the goodwill impairment testing of our reporting unit during the fourth quarter of fiscal 2017 and recorded an impairment charge of $23.5 million to loss on impairment of long-lived assets in our consolidated statements of operations and comprehensive loss (see Note 6, “Goodwill and Intangible Assets” 10-K In January 2017, after a potential buyer declined to purchase our facility in Greenville, New Hampshire, we determined that the sale of this facility was not imminent due to the location of the building and the overall market conditions in the area and decided to fully impair the facility because the carrying amount was greater than the fair value. As a result, we recorded a $0.3 million loss on impairment of long-lived assets in our consolidated statements of operations and comprehensive loss. We also have direct investments in privately-held companies accounted for under the cost-method of accounting, of which we do not have significant influence over their operating and financial activities. Management periodically assesses these investments for other-than-temporary impairment considering available information provided by the investees and any other readily available market data. If we determine that an other-than-temporary impairment has occurred, we write-down the investment to its fair value. This impairment was determined based on Level 3 of the fair value hierarchy due to the use of significant unobservable inputs to determine fair value. In the fourth quarter of fiscal 2017, we determined that the fair value of a certain cost-method investments was less than its carrying value. Accordingly, we recorded a $0.5 million impairment charge in January 2017 which is included in loss on investment in affiliates in our consolidated statements of operations and comprehensive loss. The cost-method investment is a privately-held entity without quoted market prices and therefore, falls within Level 3 of the fair value hierarchy due to the use of significant unobservable inputs to determine its fair value. In determining the fair value of this cost-method investment, we considered many factors including, but not limited to, operating performance of the investee, the amount of cash that the investee has on hand and the overall market conditions in which the investee operates. As of January 31, 2016, the Company reviewed the projected future cash flows of the Timeline Labs operations and determined that the carrying amount was greater than the fair value. As a result, all long-term assets related to Timeline Labs were fully impaired and reflected as a $21.9 million loss on impairment of long-lived assets in our consolidated statements of operations and comprehensive loss for the fiscal year ended January 31, 2016 which included: i) $15.8 million relating to the Timeline Labs acquired goodwill, ii) $5.2 million of acquired intangible assets, and iii) $0.9 million of capitalized internal use software. Additionally, we reduced the contingent consideration liability associated with the Timeline Labs acquisition to zero, as we determined the defined performance criteria would not be achieved. Therefore, we recorded the reversal of the liability of $0.4 million to the loss on impairment of assets. Available-for-Sale We determine the appropriate classification of debt investment securities at the time of purchase and reevaluate such designation as of each balance sheet date. Our investment portfolio consists of money market funds, U.S. treasury notes and bonds, and U.S. government agency notes and bonds as of January 31, 2017 and 2016. All highly liquid investments with an original maturity of three months or less when purchased are cash equivalents. All cash equivalents are carried at cost, which approximates fair value. Our marketable securities are classified as available-for-sale available-for-sale The following is a summary of cash, cash equivalents and available-for-sale short-and Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value (Amounts in thousands) January 31, 2017: Cash $ 25,576 $ — $ — $ 25,576 Cash equivalents 2,726 — — 2,726 Cash and cash equivalents 28,302 — — 28,302 U.S. treasury notes and bonds—short-term 4,248 5 — 4,253 U.S. treasury notes and bonds—long-term 2,003 — (6 ) 1,997 U.S. government agency issues—short-term 991 9 — 1,000 U.S. government agency issues—long-term 2,996 — (2 ) 2,994 Total cash, cash equivalents and marketable securities $ 38,540 $ 14 $ (8 ) $ 38,546 January 31, 2016: Cash $ 55,079 $ — $ — $ 55,079 Cash equivalents 3,654 — — 3,654 Cash and cash equivalents 58,733 — — 58,733 U.S. treasury notes and bonds—short-term 503 — (1 ) 502 U.S. treasury notes and bonds—long-term 7,756 6 — 7,762 U.S. government agency issues—short-term 1,001 1 — 1,002 U.S. government agency issues—long-term 2,977 25 — 3,002 Total cash, cash equivalents and marketable securities $ 70,970 $ 32 $ (1 ) $ 71,001 The gross realized gains and losses on sale of available-for-sale Contractual maturities of available-for-sale Estimated Maturity of one year or less $ 5,253 Maturity between one and five years 4,991 Total $ 10,244 We concluded that there were no other-than-temporary declines of available-for-sale securities as of January 31, 2017, 2016 and 2015. The unrealized holding losses, net of tax, on available-for-sale Cash, Cash Equivalents and Marketable Securities Cash and cash equivalents consist primarily of highly liquid investments in money market mutual funds, government sponsored enterprise obligations, treasury bills, commercial paper and other money market securities with remaining maturities at date of purchase of 90 days or less. The fair value of cash, cash equivalents, restricted cash and marketable securities at January 31, 2017 and 2016 was $38.7 million and $71.1 million, respectively. Restricted Cash At times, we may be required to maintain cash held as collateral for performance obligations with our customers which we classify as restricted cash on our consolidated balance sheets. As of January 31, 2017 and 2016, we had $0.1 million in restricted cash related to performance obligations. |
Acquisitions and Loss on Impair
Acquisitions and Loss on Impairment of TLL, LLC | 12 Months Ended |
Jan. 31, 2017 | |
Business Combinations [Abstract] | |
Acquisitions and Loss on Impairment of TLL, LLC | 4. Acquisitions and Loss on Impairment of TLL, LLC DCC Labs On May 5, 2016, we acquired a 100% share of DCC Labs in exchange for an aggregate of $2.7 million in newly issued shares of SeaChange common stock and $5.2 million in cash, net of cash acquired, resulting in a total net purchase price of $7.9 million. DCC Labs is a developer of set-top The acquisition of DCC Labs enables us to optimize the operations of our In-Home We accounted for the acquisition of DCC Labs as a business combination, which requires us to record the assets acquired and liabilities assumed at fair value. The amount by which the purchase price exceeds the fair value of the net assets acquired is recorded as goodwill. We engaged an independent appraiser to assist management in assessing the fair values of the tangible and intangible assets acquired and liabilities assumed and the amount of goodwill to be recognized as of the acquisition date. Assets acquired in the acquisition include receivables, prepaid expenses and property and equipment while liabilities assumed include accounts payable, other accrued expenses, deferred taxes and income taxes payable. The amounts recorded for these assets and liabilities are final based on information obtained about the facts and circumstances that existed as of the acquisition date. The allocation of purchase price was as follows (amounts in thousands): Estimated Fair value of consideration: Cash, net of cash acquired $ 5,243 Stock consideration 2,640 Total purchase price $ 7,883 Estimated Fair value of assets acquired and liabilities assumed: Current assets 826 Other long-term assets 116 Finite-life intangible assets 810 Goodwill 7,255 Current liabilities (618 ) Other long-term liabilities (506 ) Allocated purchase price $ 7,883 Acquired Goodwill We finalized the purchase price allocation in January 2017 after we received additional information from the independent appraiser related to the fair value of identifiable intangible assets and deferred tax liabilities. As a result, we recorded measurement period adjustments during the fourth quarter of fiscal 2017 that resulted in a $1.9 million net increase in goodwill. We recorded the $7.3 million excess of the purchase price over the fair value of the identified tangible and intangible assets as goodwill, primarily due to expected synergies between the combined companies and expanded market opportunities. The goodwill is not deductible for tax purposes. Intangible Assets In determining the fair value of the intangible assets, the Company considered, among other factors, the intended use of the assets and the estimates of future performance of DCC Labs, based on analyses of historical financial performance. The fair values of identified intangible assets were calculated using an income-based approach based on estimates and assumptions provided by DCC Labs’ and the Company’s management. The following table sets forth the components of the identified intangible assets associated with the DCC Labs acquisition and their estimated useful lives: Useful life Fair Value (Amounts in thousands) Tradename 4 years $ 60 Customer contracts 2 years 230 Non-compete 2 years 30 Existing technology 3 years 490 $ 810 Impact to Fiscal 2017 Financial Results DCC Labs’ financial results have been included in our consolidated financial results only for the period from the May 5, 2016 acquisition date through January 31, 2017. As a result, our consolidated financial results for fiscal 2017 do not reflect a full year of DCC Labs’ results. From the May 5, 2016 acquisition date through January 31, 2017, DCC Labs generated revenue of $0.7 million and an operating loss of $4.7 million, which includes a loss on impairment of long-lived assets of $3.4 million which was recorded in January 2017 as a result of our annual goodwill impairment test at August 1, 2016. Acquisition-related Costs In connection with the acquisition, we incurred approximately $0.2 million in acquisition-related costs, including legal, accounting and other professional services for fiscal 2017. The acquisition costs were expensed as incurred and included in professional fees—other, in our consolidated statements of operations and comprehensive loss for the fiscal year ended January 31, 2017. TLL, LLC On February 2, 2015, pursuant to an Agreement and Plan of Merger (the “Merger Agreement”), dated as of December 22, 2014, we acquired 100% of the member interests in Timeline Labs, a privately-owned California-based software-as-a-service We accounted for the acquisition of Timeline Labs as a business combination and the financial results of Timeline Labs have been included in our consolidated financial statements as of the date of acquisition. Under the acquisition method of accounting, the purchase price was allocated to SeaChange’s net tangible and intangible assets based upon their fair values as of February 2, 2015. The allocation of the purchase price was as follows (amounts in thousands): Fair value of consideration: Cash, net of cash acquired $ 14,186 Closing stock consideration 3,019 Deferred stock consideration 4,959 Contingent consideration 475 Total purchase price $ 22,639 Fair value of assets acquired and liabilities assumed: Current assets 95 Other long-term assets 108 Finite-life intangible assets 6,720 Goodwill 15,787 Current liabilities (71 ) Allocated purchase price $ 22,639 Fair Value of Consideration Transferred Upon completion of the acquisition, the Company made cash consideration payments to the former members of Timeline Labs in the amount of $14.2 million (“Closing Cash Consideration”). The Closing Cash Consideration included $1.4 million deposited in escrow to secure certain indemnification obligations of the former members of Timeline Labs under the Merger Agreement. Also upon completion of the acquisition, the Company issued 344,055 shares of common stock to the former members of Timeline Labs and deposited 173,265 shares of common stock into the indemnification escrow. On August 3, 2015, we issued 260,537 shares of our common stock with a value of $1.8 million to the former members of Timeline Labs, in satisfaction of the six-month Contingent Consideration The former interest holders of Timeline Labs were eligible to receive earn-out Intangible Assets In determining the fair value of the intangible assets, the Company considered, among other factors, the intended use of the assets, the estimates of future performance of Timeline Lab’s products and analyses of historical financial performance. The fair values of identified intangible assets were calculated using an income-based approach based on estimates and assumptions provided by Timeline Labs’ and the Company’s management. The following table sets forth the components of the identified intangible assets associated with the Timeline Labs acquisition and their estimated useful lives: Useful life Fair Value (Amounts in thousands) Tradename 7 years $ 620 Customer contracts 7 years 4,760 Non-compete 2 years 170 Existing technology 5 years 1,170 $ 6,720 Acquired Goodwill We finalized the purchase price allocation in January 2016. We recorded the $15.8 million excess of the purchase price over the fair value of the identified tangible and intangible assets as goodwill, primarily due to expected synergies between the combined companies and expanded market opportunities. The goodwill was considered deductible for tax purposes. Acquisition-related Costs In connection with the acquisition, we incurred approximately $0.1 million in acquisition-related costs, including legal, accounting and other professional services for fiscal 2016. The acquisition costs were expensed as incurred and included in professional fees—other, in our consolidated statements of operations and comprehensive loss. Loss on Impairment of TLL, LLC In January 2016, our Board of Directors authorized a restructuring plan, as previously reported in a Form 8-K |
Consolidated Balance Sheet Deta
Consolidated Balance Sheet Detail | 12 Months Ended |
Jan. 31, 2017 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Consolidated Balance Sheet Detail | 5. Consolidated Balance Sheet Detail Inventories, net Inventories consist primarily of hardware and related component parts and are stated at the lower of cost (on a first-in, first-out January 31, 2017 2016 (Amounts in thousands) Components and assemblies $ 500 $ 1,223 Finished products 270 459 Total inventories, net $ 770 $ 1,682 Property and equipment, net Property and equipment, net consists of the following: Estimated Life (Years) January 31, 2017 2016 (Amounts in thousands) Land $ 2,780 $ 2,880 Buildings 20 11,726 11,908 Office furniture and equipment 5 1,091 1,099 Computer equipment, software and demonstration equipment 3 18,194 18,639 Service and spare components 5 1,158 1,158 Leasehold improvements 1-7 1,064 1,087 36,013 36,771 Less—Accumulated depreciation and amortization (24,528 ) (22,642 ) Total property and equipment, net $ 11,485 $ 14,129 Depreciation and amortization expense of property and equipment was $3.0 million, $3.4 million and $3.7 million for the years ended January 31, 2017, 2016 and 2015, respectively. Other accrued expenses Other accrued expenses consist of the following: January 31, 2017 2016 (Amounts in thousands) Accrued compensation and commissions $ 1,799 $ 1,676 Accrued bonuses 1,871 2,902 Accrued restructuring 1,023 — Employee benefits 885 1,484 Accrued provision for contract loss(1) 168 6,497 Accrued other 4,182 4,855 Total other accrued expenses $ 9,928 $ 17,414 (1) Includes a reduction to the provision for loss contract of $4.1 million recorded in the fourth quarter of fiscal 2017 resulting from an amendment to a contract with a fixed-price customer which changed the scope of the project and add the remaining costs and revenue to complete the project. |
Goodwill and Intangible Assets
Goodwill and Intangible Assets | 12 Months Ended |
Jan. 31, 2017 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill and Intangible Assets | 6. Goodwill and Intangible Assets Goodwill, net At January 31, 2017 and 2016, we had goodwill of $23.3 million and $40.2 million, respectively. The following table represents the changes in goodwill for the fiscal year ended January 31, 2017 (amounts in thousands): Balance as of February 1, 2016: Goodwill, gross $ 55,962 Accumulated impairment losses (15,787 ) Goodwill, net 40,175 Acquisition of DCC Labs 7,255 Goodwill impairment charge (23,492 ) Cumulative translation adjustment (651 ) Balance as of January 31, 2017 Goodwill, gross 61,707 Accumulated impairment losses (39,279 ) Goodwill, net $ 23,287 The valuation of goodwill related to the DCC Labs acquisition was finalized in the fourth quarter of fiscal 2017 based on the final allocation of the purchase price. In the second quarter of fiscal 2017, triggering events prompted us to perform “Step 1” of the goodwill impairment test. The triggering events included; a sustained decrease in our stock price during the period, the withdrawal of the permanent reinvestment assertion on earnings generated by our Irish operations (see Note 12, “Income Taxes” 10-K 8-K We determined based on “Step 1” of our fiscal 2017 annual impairment test, that the fair value of our reporting unit was less than its carrying value, which was $102.5 million at August 1, 2016. Since the estimated fair value of our reporting unit was less than its carrying value, we determined that it was necessary to perform “Step 2” of the impairment test. In “Step 2” of the impairment test we compared the implied fair value of our goodwill to its carrying value. After adjusting the carrying value of all assets, liabilities and equity to fair value at August 1, 2016, the estimated implied fair value of goodwill was calculated to be $22.3 million. Since the implied fair value of goodwill of $22.3 million is less than the carrying value of $45.8 million as of August 1, 2016, we recorded an impairment charge of $23.5 million to loss on impairment of long-lived assets in our consolidated statements of operations and comprehensive loss. Intangible assets, net Intangible assets, net, consisted of the following at January 31, 2017 and 2016: January 31, 2017 January 31, 2016 Weighted average Gross Accumulated Net Gross Accumulated Net (Amounts in thousands) Finite-lived intangible assets: Customer contracts 2.4 $ 30,056 $ (28,019 ) $ 2,037 $ 29,956 $ (26,284 ) $ 3,672 Non-compete 1.3 2,374 (2,356 ) 18 2,365 (2,365 ) — Completed technology 2.4 10,496 (9,997 ) 499 10,075 (9,621 ) 454 Trademarks, patents and other 3.3 7,125 (7,076 ) 49 7,068 (7,068 ) — Total finite-lived intangible assets 2.4 $ 50,051 $ (47,448 ) $ 2,603 $ 49,464 $ (45,338 ) $ 4,126 Amortization expense for intangible assets was $3.3 million, $4.8 million and $5.2 million for fiscal 2017, 2016 and 2015, respectively. The total amortization expense for each of the next five fiscal years is as follows (amounts in thousands): For the Fiscal Years Ended January 31, Estimated 2018 $ 1,412 2019 931 2020 257 2021 3 2022 — 2023 and thereafter — Total $ 2,603 Actual amortization may differ from estimated amounts in the table above due to fluctuations in foreign currency exchange rates, additional intangible asset acquisitions, potential impairment, accelerated amortization, or other events. |
Severance and Other Restructuri
Severance and Other Restructuring Costs | 12 Months Ended |
Jan. 31, 2017 | |
Restructuring and Related Activities [Abstract] | |
Severance and Other Restructuring Costs | 7. Severance and Other Restructuring Costs Restructuring Costs During fiscal 2017, we incurred restructuring charges totaling $5.7 million primarily from employee-related benefits for terminated employees and costs to close facilities. The following table shows the change in balances of our accrued restructuring reported as a component of other accrued expenses on the consolidated balance sheet as of January 31, 2017 (amounts in thousands): Employee- Closure of Other Total Accrual balance as of January 31, 2016 $ — $ — $ — $ — Restructuring charges incurred 4,543 509 603 5,655 Cash payments (3,741 ) (379 ) (495 ) (4,615 ) Other charges (17 ) — — (17 ) Accrual balance as of January 31, 2017 $ 785 $ 130 $ 108 $ 1,023 During the third quarter of fiscal 2017, we implemented a restructuring program (“Fiscal 2017 Restructuring Plan”) with the purpose of reducing costs and assisting in restoring SeaChange to profitability and positive cash flow. The total estimated restructuring costs associated with the Fiscal 2017 Restructuring Plan are anticipated to be approximately $5.1 million and will be recorded in severance and other restructuring costs in our consolidated statements of operations and comprehensive loss as they are incurred. We recorded $3.1 million of restructuring expense in connection with this plan during fiscal 2017, which was primarily made up of employee-related costs, and we expect to incur most of the estimated remaining costs in the first half of fiscal 2018. Any changes to the estimate of executing the Fiscal 2017 Restructuring Plan will be reflected in our future results of operations. During the second quarter of fiscal 2017, we restructured our operations in connection with the acquisition of DCC Labs. This restructuring resulted in a workforce reduction within our In-Home Because of restructuring activities relating to our Timeline Labs operations in fiscal 2017, we incurred $0.7 million of charges, which include $0.4 million in severance to former Timeline Labs employees and $0.3 million in other restructuring charges relating to our remaining lease obligation of our Timeline Labs facilities in San Francisco and Santa Monica, California. Severance Costs During fiscal 2017, we incurred severance charges of $1.5 million primarily from the departure of our former Chief Executive Officer (“CEO”) and Chief Financial Officer (“CFO”) during the first half of fiscal 2017 as well as the termination of 13 other former employees. Effective April 6, 2016, we terminated the employment of Jay Samit, our former CEO. In connection with his termination, Mr. Samit and SeaChange entered a Separation Agreement and Release of Claims (the “CEO Separation Agreement”). Under the terms of the CEO Separation Agreement and consistent with our pre-existing pro-rated |
Commitments and Contingencies
Commitments and Contingencies | 12 Months Ended |
Jan. 31, 2017 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | 8. Commitments and Contingencies Indemnification and Warranties We provide indemnification, to the extent permitted by law, to our officers, directors, employees and agents for liabilities arising from certain events or occurrences while the officer, director, employee or agent is, or was, serving at our request in such capacity. With respect to acquisitions, we provide indemnification to, or assume indemnification obligations for, the current and former directors, officers and employees of the acquired companies in accordance with the acquired companies’ governing documents. As a matter of practice, we have maintained directors’ and officers’ liability insurance including coverage for directors and officers of acquired companies. We enter agreements in the ordinary course of business with customers, resellers, distributors, integrators and suppliers. Most of these agreements require us to defend and/or indemnify the other party against intellectual property infringement claims brought by a third-party with respect to our products. From time to time, we also indemnify customers and business partners for damages, losses and liabilities they may suffer or incur relating to personal injury, personal property damage, product liability, and environmental claims relating to the use of our products and services or resulting from the acts or omissions of us, our employees, authorized agents or subcontractors. From time to time, we have received requests from customers for indemnification of patent litigation claims. Management cannot reasonably estimate any potential losses, but these claims could result in material liability for us. There are no current pending legal proceedings, in the opinion of management that would have a material adverse effect on our financial position, results from operations and cash flows. There is no assurance that future legal proceedings arising from ordinary course of business or otherwise, will not have a material adverse effect on our financial position, results from operations or cash flows. We warrant that our products, including software products, will substantially perform in accordance with our standard published specifications in effect at the time of delivery. In addition, we provide maintenance support to our customers and therefore allocate a portion of the product purchase price to the initial warranty period and recognize revenue on a straight-line basis over that warranty period related to both the warranty obligation and the maintenance support agreement. When we receive revenue for extended warranties beyond the standard duration, it is deferred and recognized on a straight-line basis over the contract period. Related costs are expensed as incurred. Revolving Line of Credit/Demand Note Payable We had a letter agreement with JP Morgan Chase Bank, N.A. (“JP Morgan”) for a demand discretionary line of credit and a Demand Promissory Note in the aggregate amount of $20.0 million, which expired on August 31, 2016 with no outstanding balance. This line of credit and Demand Promissory Note was not renewed. Operating Leases We lease certain of our operating facilities, automobiles and office equipment under non-cancelable For the Fiscal Years Ended January 31, Operating 2018 $ 1,826 2019 1,604 2020 1,234 2021 747 2022 461 2023 and thereafter 116 Minimum operating lease payments $ 5,988 |
Stockholders' Equity
Stockholders' Equity | 12 Months Ended |
Jan. 31, 2017 | |
Equity [Abstract] | |
Stockholders' Equity | 9. Stockholders’ Equity Stock Authorization The Board of Directors is authorized to issue from time to time up to an aggregate of 5,000,000 shares of preferred stock, in one or more series. Each such series of preferred stock shall have the number of shares, designations, preferences, voting powers, qualifications and special or relative rights or privileges to be determined by the Board of Directors, including dividend rights, voting rights, redemption rights and sinking fund provisions, liquidation preferences, conversion rights and preemptive rights. No preferred stock has been issued as of January 31, 2017. Stock Option Plans 2011 Compensation and Incentive Plan. In July 2011, our stockholders approved the adoption of our 2011 Compensation and Incentive Plan (the “2011 Plan”). Under the 2011 Plan, as amended in July 2013, the number of shares of common stock authorized for grant is equal to 5,300,000 shares plus the number of shares that were expired, terminated, surrendered or forfeited subsequent to July 20, 2011 under the Amended and Restated 2005 Equity Compensation and Incentive Plan (the “2005 Plan”). Following approval of the 2011 Plan, we terminated the 2005 Plan. The 2011 Plan provides for the grant of incentive stock options, nonqualified stock options, restricted stock, restricted stock units (“RSUs”), deferred stock units (“DSUs”) and other equity based non-stock • Approved the removal of minimum vesting periods for stock option, RSU and other stock-based awards, but excluding restricted stock, under the 2011 Plan; and • Approved the material terms of the performance goals of the 2011 Plan under which tax-deductible Effective February 1, 2014, SeaChange gave its non-employee non-employee non-employee We may satisfy awards upon the exercise of stock options or the vesting of stock units with newly issued shares or treasury shares. The Board of Directors is responsible for the administration of the 2011 Plan and determining the terms of each award, award exercise price, the number of shares for which each award is granted and the rate at which each award vests. In certain instances, the Board of Directors may elect to modify the terms of an award. As of January 31, 2017, there were 393,403 shares available for future grant under the 2011 Plan. Option awards may be granted to employees at an exercise price per share of not less than 100% of the fair market value per common share on the date of the grant. Stock units may be granted to any officer, employee, director, or consultant at a purchase price per share as determined by the Board of Directors. Option awards granted under the 2011 Plan generally vest over a period of one to four years and expire ten years from the date of the grant. In fiscal 2016, the Board of Directors developed a new Long-Term Incentive (“LTI”) Program under which the named executive officers and other key employees of the Company will receive long-term equity-based incentive awards, which are intended to align the interests of our named executive officers and other key employees with the long-term interests of our stockholders and to emphasize and reinforce our focus on team success. Long-term equity-based incentive compensation awards are made in the form of stock options, RSUs and performance stock units (“PSUs”) subject to vesting based in part on the extent to which employment continues for three years. 2015 Employee Stock Purchase Plan In July 2015, we adopted the 2015 Employee Stock Purchase Plan (the “ESPP”). The purpose of the ESPP is to provide eligible employees, including executive officers of SeaChange, with the opportunity to purchase shares of our common stock at a discount through accumulated payroll deductions of up to 15%, but not less than one percent of their eligible compensation, subject to any plan limitations. Offering periods typically commence on October 1 st st st th Stock-based Compensation We use the provisions of the authoritative guidance which requires the measurement and recognition of compensation expense for all share-based payment awards made to employees and directors based on estimated fair values. The fair value of our stock options and PSUs, less expected forfeitures, is amortized over the awards’ vesting period on a graded vesting basis, whereas the RSUs and DSUs, less expected forfeitures, are amortized on a straight-line basis. We have applied the provisions of authoritative guidance allowing the use of a “simplified” method, in developing an estimate of the expected term of “plain vanilla” share options. The effect of recording stock-based compensation was as follows: For the Fiscal Years Ended January 31, 2017 2016 2015 (Amounts in thousands) Stock-based compensation expense by type of award: Stock options $ 873 $ 1,257 $ 1,036 Restricted stock units 624 1,203 1,607 Deferred stock units 709 607 500 Performance-based restricted stock units 398 475 77 Employee stock purchase plan 17 10 — Total stock-based compensation $ 2,621 $ 3,552 $ 3,220 Since stock-based awards are expected to be made each year and vest over several years, the effects of applying authoritative guidance for recording stock-based compensation for the year ended January 31, 2017 are not indicative of future amounts. Determining Fair Value Stock Options We record the fair value of most stock options using the Black-Scholes valuation model. Key input assumptions used to estimate the fair value of stock options include the exercise price, the expected option term, the risk-free interest rate over the option’s expected term, the expected annual dividend yield and the expected stock price volatility. The expected option term was determined using the “simplified” method for “plain vanilla” options. The expected stock price volatility was established using a blended volatility, which is an average of the historical volatility of our common stock over a period of time equal to the expected term of the stock option, and the average volatility of our common stock over the most recent one-year two-year The fair value of stock options granted was estimated at the date of grant using the following assumptions: For the Fiscal Years Ended January 31, 2017 2016 2015 Expected term (in years) 6-7 6-7 6.5 Expected volatility (range) 40-45% 40-45% 46% Weighted average volatility 42% 42% 46% Risk-free interest rate 1.0-2.0% 1.5-2.0% 1.7% Weighted average interest rate 1.1% 1.6% 1.7% Expected dividend yield 0% 0% 0% Market-Based Options We have granted market-based options to certain newly appointed officers. These stock options have an exercise price equal to our closing stock price on the date of grant and will vest in approximately equal increments based upon the closing price of SeaChange’s common stock. We record the fair value of these stock options using the Monte Carlo simulation model, since the stock option vesting is variable depending on the closing price of our traded common stock. The model simulated the daily trading price of the market-based stock options’ expected terms to determine if the vesting conditions would be triggered during the term. Effective April 6, 2016, Ed Terino, who previously served as our Chief Operating Officer (“COO”), was appointed Chief Executive Officer (“CEO”) of SeaChange and was granted 600,000 market-based options, bringing the total of his market-based options, when added to the 200,000 market-based options he received upon hire as COO in June 2015, to 800,000 market-based options. The fair value of these 800,000 stock options was estimated to be $2.1 million. As of January 31, 2017, $0.9 million remained unamortized on the market-based stock options, which will be expensed over the next 2.3 years, the remaining weighted average amortization period. The following table summarizes the Company’s stock option activity: For the Fiscal Years Ended January 31, 2017 2016 2015 Shares Weighted average exercise price Shares Weighted average exercise price Shares Weighted average exercise price Outstanding at beginning of period 1,192,677 $ 6.80 1,626,421 $ 7.77 1,502,176 $ 9.77 Granted 1,581,614 $ 4.02 612,678 $ 6.44 500,000 $ 7.23 Exercised — $ — (28,740 ) $ 6.74 — $ — Forfeited/expired/cancelled (632,724 ) $ 6.98 (1,017,682 ) $ 8.13 (375,755 ) $ 15.06 Outstanding at end of period 2,141,567 $ 4.70 1,192,677 $ 6.80 1,626,421 $ 7.77 Options exercisable at end of period 203,982 $ 6.28 80,000 $ 6.83 1,108,115 $ 8.02 Weighted average remaining contractual term (in years) 8.01 8.10 4.72 The weighted-average fair valuation at grant date of stock options granted during the years ended January 31, 2017, 2016 and 2015, was $3.09, $2.75, and $3.39, respectively. As of January 31, 2017, the unrecognized stock-based compensation related to the unvested stock options was approximately $1.4 million, net of estimated forfeitures. Total unrecognized compensation cost will be adjusted for any future changes in estimated changes in forfeitures. This cost will be recognized over an estimated weighted average amortization period of 2.0 years. Intrinsic value is defined as the difference between the market price on the date of exercise and the grant date price. There was no intrinsic value as of January 31, 2017 as the market price on the date of exercise was higher than the grant date price for options outstanding. The aggregate intrinsic value for options outstanding was $0.1 million as of January 31, 2016 and 2015, respectively. The aggregate intrinsic value of vested shares and share options expected to vest as of January 31, 2017, 2016 and 2015 was $0, $0.1 million and $0.1 million, respectively. Cash received from employees as a result of employee stock option exercises during fiscal 2016 was $0.2 million. There were no stock options exercised in fiscal 2017 and 2015. The total intrinsic value of options exercised during the year ended January 31, 2017 was not material. The following table summarizes information about stock options outstanding and exercisable as of January 31, 2017: Options Outstanding Options Exercisable Number Weighted average remaining contractual terms (years) Weighted average exercise price Number exercisable Weighted average exercise price Range of exercise prices $2.42 to $2.42 425,546 9.50 $ 2.42 — $ — $2.64 to $2.89 135,000 9.68 $ 2.73 — $ — $3.30 to $3.41 150,000 9.38 $ 3.34 — $ — $3.50 to $3.50 100,000 9.26 $ 3.50 — $ — $3.77 to $3.77 21,068 2.25 $ 3.77 7,023 $ 3.77 $3.83 to $3.83 75,000 9.21 $ 3.83 — $ — $5.50 to $5.50 75,000 0.31 $ 5.50 — $ — $5.56 to $7.25 800,000 8.97 $ 5.98 — $ — $6.05 to $6.05 279,953 4.94 $ 6.05 116,959 $ 6.05 $6.74 to $6.74 75,000 1.96 $ 6.74 75,000 $ 6.74 $8.15 to $8.15 5,000 2.42 $ 8.15 5,000 $ 8.15 2,141,567 8.01 $ 4.70 203,982 $ 6.28 Stock Units (RSUs, DSUs and PSUs) We record stock-based compensation expense associated with stock units using the market value of our stock on the date of grant, less forfeitures, and amortize the fair value over the awards’ vesting period on a straight-line basis for awards with only a service condition and graded vesting basis for awards that include both a performance and service condition. The following table summarizes the stock unit activity: For the Fiscal Years Ended January 31, 2017 2016 2015 Shares Weighted average Shares Weighted average Shares Weighted average Unvested at beginning of period 1,053,045 $ 7.34 435,306 $ 8.91 446,468 $ 9.81 Awarded 837,927 $ 3.07 904,344 $ 6.46 314,057 $ 8.60 Vested (208,474 ) $ 3.46 (277,373 ) $ 6.89 (287,485 ) $ 9.83 Forfeited/expired/cancelled (229,440 ) $ 6.68 (9,232 ) $ 8.42 (37,734 ) $ 10.01 Unvested at end of period 1,453,058 $ 5.54 1,053,045 $ 7.34 435,306 $ 8.91 As of January 31, 2017, the unrecognized stock-based compensation related to the unvested RSUs and DSUs was $3.0 million. This cost will be recognized over an estimated weighted average amortization period of 1.3 years. In fiscal 2017 and fiscal 2016, the Company granted an aggregate of 307,963 and 301,192 PSUs, respectively, to employees. The target number of PSUs granted to an employee in these fiscal years represent the right to receive a corresponding number of shares of our common stock, subject to adjustment depending on SeaChange’s total shareholder return (“TSR”) for the period between February 1, 2017 and January 31, 2020 (for the fiscal 2017 grant) and between February 1, 2016 and January 31, 2019 (for the fiscal 2016 grant) measured against the TSR of the common stock of the companies comprising the S&P SmallCap 600 Index (collectively referred to as the “SeaChange Relative TSR Percentile Rank”). The number of shares of our common stock that these employees are entitled to receive at January 31, 2019 and 2020 range from 0% to 150% of the target PSU award. If the SeaChange Relative TSR Percentile Rank relative to the companies in the S&P SmallCap 600 Index is less than the 25 th We record the fair value of these PSUs using the Monte Carlo simulation model since the vesting is variable depending on the SeaChange Relative TSR Percentile Ranking. We recognize stock compensation expense related to the PSUs ratably over the required service period based on the estimate that it is probable that the measurement criteria will be achieved and the targeted number of shares will vest. If there is a change in the estimate of the number of shares that are probable of vesting, we will cumulatively adjust compensation expense in the period that the change in estimate is made. The fair value of the granted PSUs was estimated to be $2.9 million and will be expensed over the next 3 years. |
Accumulated Other Comprehensive
Accumulated Other Comprehensive Loss | 12 Months Ended |
Jan. 31, 2017 | |
Equity [Abstract] | |
Accumulated Other Comprehensive Loss | 10. Accumulated Other Comprehensive Loss Accumulated other comprehensive loss consisted of the following: Foreign Changes in for-Sale Accumulated (Amounts in thousands) Balance at January 31, 2015 $ (5,797 ) $ 43 $ (5,754 ) Other comprehensive loss (847 ) (12 ) (859 ) Balance at January 31, 2016 (6,644 ) 31 (6,613 ) Other comprehensive income (loss) 1,267 (25 ) 1,242 Balance at January 31, 2017 $ (5,377 ) $ 6 $ (5,371 ) Unrealized holding losses on securities available for sale are not material for the periods presented. Comprehensive loss consists of net loss and other comprehensive income (loss), which includes foreign currency translation adjustments and changes in unrealized gains and losses on marketable securities. For purposes of comprehensive loss disclosures, we do not record tax expense or benefits for the net changes in the foreign currency translation adjustments. |
Segment Information, Significan
Segment Information, Significant Customers and Geographic Information | 12 Months Ended |
Jan. 31, 2017 | |
Segment Reporting [Abstract] | |
Segment Information, Significant Customers and Geographic Information | 11. Segment Information, Significant Customers and Geographic Information Segment Information Our operations are organized into one reportable segment. Operating segments are defined as components of an enterprise evaluated regularly by the Company’s senior management in deciding how to allocate resources and assess performance. Our reportable segment was determined based upon the nature of the products offered to customers, the market characteristics of each operating segment and the Company’s management structure. Significant Customers The following table summarizes revenues by significant customers where such revenue exceeded 10% of total revenues for the indicated period: For Fiscal Years Ended January 31, 2017 2016 2015 Customer A 30 % 28 % 17 % Customer B N/A 10 % 17 % Geographic Information The following summarizes revenues by customers’ geographic locations: For the Fiscal Years Ended January 31, 2017 2016 2015 Amount % Amount % Amount % (Amounts in thousands, except percentages) Revenues by customers’ geographic locations: North America(1) $ 37,570 45 % $ 58,113 55 % $ 64,755 56 % Europe and Middle East 38,169 45 % 42,201 39 % 39,387 34 % Latin America 5,764 7 % 4,707 4 % 6,829 6 % Asia Pacific 2,292 3 % 1,971 2 % 4,464 4 % Total revenues $ 83,795 $ 106,992 $ 115,435 (1) Includes total revenue for the United States for the periods shown as follows: For the Fiscal Years Ended January 31, 2017 2016 2015 (Amounts in thousands, except percentages) U.S. Revenue $ 30,094 $ 46,978 $ 59,819 % of total revenue 35.9 % 43.9 % 51.8 % The following summarizes long-lived assets by geographic locations: January 31, 2017 2016 Amount % Amount % (Amounts in thousands, except percentages) Long-lived assets by geographic locations(1): North America $ 14,729 80 % $ 18,944 79 % Europe and Middle East 2,878 16 % 3,575 15 % Asia Pacific 817 4 % 1,372 6 % Total long-lived assets by geographic location $ 18,424 $ 23,891 (1) Excludes marketable securities, long-term and goodwill. |
Income Taxes
Income Taxes | 12 Months Ended |
Jan. 31, 2017 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | 12. Income Taxes The components of loss from continuing operations before income taxes are as follows: For the Fiscal Years Ended January 31, 2017 2016 2015 (Amounts in thousands) Domestic $ (40,452 ) $ (38,709 ) $ (25,920 ) Foreign (16,166 ) (10,044 ) (2,694 ) Loss from continuing operations before income taxes $ (56,618 ) $ (48,753 ) $ (28,614 ) The components of the income tax provision (benefit) from continuing operations are as follows: For the Fiscal Years Ended January 31, 2017 2016 2015 (Amounts in thousands) Current: Federal $ — $ — $ — State 50 50 (762 ) Foreign (94 ) (49 ) 24 Total (44 ) 1 (738 ) Deferred: Foreign 14,675 (1,030 ) (368 ) Total 14,675 (1,030 ) (368 ) Income tax (benefit) provision $ 14,631 $ (1,029 ) $ (1,106 ) The income tax provision (benefit) for continuing operations computed using the federal statutory income tax rate differs from our effective tax rate primarily due to the following: For the Fiscal Years Ended January 31, 2017 2016 2015 (Amounts in thousands) Statutory U.S. federal tax rate $ (19,816 ) $ (17,066 ) $ (10,014 ) State taxes, net of federal tax benefit 32 33 (779 ) Income (losses) not benefitted 10,679 15,712 8,913 Non-deductible 266 3 — Other non-deductible 252 (31 ) (74 ) Innovative technology and development incentive — (189 ) (68 ) Foreign tax rate differential 3,499 509 916 APB 23 deferred tax liability 14,675 — — Goodwill impairment 5,044 — — Income tax provision (benefit) $ 14,631 $ (1,029 ) $ (1,106 ) (1) Within the other line in the table above, other non-deductible items were $0.1 million and ($0.2) million for the fiscal years ended January 31, 2017 and 2016, respectively, and were immaterial for fiscal 2015. These items have been aggregated with various adjustments related to differences in prior year U.S. and foreign tax provisions and the actual returns filed. Our effective tax rate was a provision of 26% for the fiscal year ended January 31, 2017 and a benefit of 2% and 4% for the fiscal years ended January 31, 2016 and 2015, respectively. The components of deferred income taxes are as follows: January 31, 2017 2016 (Amounts in thousands) Deferred tax assets: Accruals and reserves $ 1,815 $ 5,041 Deferred revenue 79 346 Stock-based compensation expense 3,730 3,655 U.S. federal, state and foreign tax credits 7,459 7,510 Intangible assets 6,834 7,153 Loss carryforwards 38,356 24,172 Deferred tax assets 58,273 47,877 Less: Valuation allowance (58,134 ) (47,368 ) Net deferred tax assets 139 509 Deferred tax liabilities: APB 23 deferred tax liability 14,675 — Other 75 75 Property and equipment 121 426 Total net deferred tax (liabilities) assets $ (14,732 ) $ 8 At January 31, 2017, we had federal, state and foreign net operating loss carry forwards of $84.7 million, $117.5 million and $6.3 million respectively, which can be used to offset future tax liabilities and expire at various dates beginning in fiscal 2018. Utilization of these net operating loss carry forwards may be limited pursuant to provisions of the respective local jurisdiction. At January 31, 2017, we had a federal capital loss carry forward of $13.1 million. This loss can only be utilized to offset capital gains and it expires in fiscal 2018. In addition, at January 31, 2017, we had federal and state research and development credit carry forwards of $3.6 million and $1.8 million respectively, and state investment tax credit carry forwards of $0.2 million. We also have alternative minimum tax credit carry forwards of $0.6 million which are available to reduce future federal regular income taxes over an indefinite period. We have foreign tax credit carry forwards of $2.0 million which are available to reduce future federal regular income taxes. These credits expire at various dates beginning in fiscal 2018, except for $0.8 million in credits that have an unlimited carryforward period. We review the adequacy of the valuation allowance for deferred tax assets on a quarterly basis. We have evaluated the positive and negative evidence bearing upon the realizability of our deferred tax assets and have established a valuation allowance of $58.1 million for such assets, which are comprised principally of net operating loss carry forwards, research and development credits, deferred revenue, inventory and stock-based compensation. If we generate pre-tax Our foreign subsidiaries generate earnings that are not subject to U.S. income taxes so long as they are permanently reinvested in our operations outside the United States. Pursuant to Accounting Standard Codification Topic No. 740-30, “Income Taxes-Other Considerations or Special Areas,” In the second quarter of fiscal 2017, following a review of our operations, liquidity and funding, and investment in our product roadmap, we determined that the ability to access certain amounts of foreign earnings would provide greater flexibility to meet the Company’s working capital needs. Accordingly, in the second quarter of fiscal 2017, we withdrew the permanent reinvestment assertion on $58.6 million of earnings generated by our Irish operations through July 2016. We recorded a deferred tax liability of $14.7 million related to the foreign income taxes on $58.6 million of undistributed earnings. At January 31, 2017, we have indefinitely reinvested $6.0 million of the cumulative undistributed earnings of certain foreign subsidiaries. The $6.0 million of such earnings would be subject to U.S. taxes if repatriated to the United States. Through January 31, 2017, we have not provided deferred income taxes on these undistributed earnings of our foreign subsidiaries because such earnings are considered to be indefinitely reinvested outside the United States. Determination of the potential deferred income tax liability on these undistributed earnings is not practicable because such liability, if any, is dependent on circumstances existing if, and when, remittance occurs. There is no certainty as to the timing of when such foreign earnings will be distributed to the United States in whole or in part. Further, when the foreign earnings are distributed via dividend to the United States, we anticipate that a substantial portion of the resulting U.S. income taxes would be reduced by existing tax attributes. For the fiscal year ended January 31, 2017, we recognized incremental tax benefits of $0.4 million. This incremental tax benefit is primarily due to $0.3 million of tax benefit recorded for the expiration of the statute of limitations and $0.1 million related to effectively settling an audit. We recognize accrued interest and penalties related to uncertain tax positions in income tax expense. A reconciliation of the beginning and ending balance of the total amounts of gross unrecognized tax benefits, excluding interest of $0.3 million, is as follows: For the Fiscal Years Ended January 31, 2017 2016 (Amounts in thousands) Balance of gross unrecognized tax benefits, beginning of period $ 5,151 $ 5,527 Gross amounts of increases in unrecognized tax benefits as a result of tax positions taken in the current period 321 — Decrease due to expiration of statute of limitation (269 ) (325 ) Decrease for tax positions related to prior years (96 ) — Effect of currency translation (14 ) (51 ) Balance of gross unrecognized tax benefits, end of period $ 5,093 $ 5,151 We file income tax returns in U.S. federal jurisdiction, various state jurisdictions, and various foreign jurisdictions. We have closed out an audit with the Internal Revenue Service (“IRS”) through fiscal 2013, however, the taxing authorities can still review the propriety of certain tax attributes created in closed years if such tax attributes are utilized in an open tax year, such as our federal research and development credit carryovers. During fiscal 2017, we closed an audit with the Dutch tax authorities for fiscal years 2010 through 2015. |
Employee Benefit Plans
Employee Benefit Plans | 12 Months Ended |
Jan. 31, 2017 | |
Postemployment Benefits [Abstract] | |
Employee Benefit Plans | 13. Employee Benefit Plans We sponsor a 401(k) retirement savings plan (the “Plan”) that covers substantially all domestic employees of SeaChange. The Plan allows employees to contribute gross salary through payroll deductions up to the legally mandated limit based on their jurisdiction. Participation in the Plan is available to full-time employees who meet eligibility requirements. We also contribute to various retirement plans for our employees outside the United States according to the local plans specific to each foreign location. Amounts contributed will vary. During fiscal 2017, 2016 and 2015, we contributed $1.4 million, $1.5 million and $1.7 million, respectively. We have a statutory pension benefit obligation covering current employees in the Philippines. The components of the change in this pension benefit obligation as of January 31, 2017 and 2016 is as follows: January 31, 2017 2016 (Amounts in thousands) Projected benefit obligation, beginning of fiscal year $ 1,063 $ 1,247 Service cost 238 288 Interest cost 54 51 Actuarial gain (801 ) (435 ) Foreign currency exchange rate changes (24 ) (88 ) Projected benefit obligation, end of fiscal year $ 530 $ 1,063 Funded status at end of fiscal year(1) $ 530 $ 1,063 (1) These unfunded amounts are included in other liabilities, long-term on our consolidated balance sheets for the periods presented. The following sets forth the components of our net periodic benefit cost under the pension plan: January 31, 2017 2016 2015 (Amounts in thousands) Service cost $ 238 $ 288 $ 176 Interest cost 54 51 39 Actuarial (gain) loss (801 ) (435 ) 379 Net periodic benefit cost $ (509 ) $ (96 ) $ 594 Key weighted average assumptions used in the accounting for the pension plan to determine the benefit obligation and net benefit cost were as follows: January 31, 2017 2016 Discount rate 5.72 % 5.08 % Compensation increase rate 5.00 % 7.00 % We do not anticipate to begin paying this obligation until fiscal 2022 and estimate $0.2 million in benefit payments through fiscal 2028. |
Net Loss Per Share
Net Loss Per Share | 12 Months Ended |
Jan. 31, 2017 | |
Earnings Per Share [Abstract] | |
Net Loss Per Share | 14. Net Loss Per Share Net loss per share is presented in accordance with authoritative guidance which requires the presentation of “basic” and “diluted” earnings per share. Basic net loss per share is computed by dividing earnings available to common shareholders by the weighted average shares of common stock outstanding during the period. For the purposes of calculating diluted net loss per share, the denominator includes both the weighted average number of shares of common stock outstanding during the period and the weighted average number of shares of potential dilutive shares of common stock, such as stock awards, calculated using the treasury stock method. Basic and diluted net loss per share was the same for all the periods presented as the impact of potential dilutive shares outstanding was anti-dilutive. The following table sets forth our computation of basic and diluted net loss per common share (amounts in thousands, except per share data): For the Fiscal Years Ended January 31, 2017 2016 2015 Net loss from continuing operations $ (71,249 ) $ (47,697 ) $ (27,489 ) Net income from discontinued operations — — 5 Net loss $ (71,249 ) $ (47,697 ) $ (27,484 ) Weighted average shares used in computing net loss per share—basic and diluted 34,970 33,506 32,772 Net loss per share—basic and diluted: Loss from continuing operations $ (2.04 ) $ (1.42 ) $ (0.84 ) Income from discontinued operations — — 0.00 Net loss per share—basic and diluted $ (2.04 ) $ (1.42 ) $ (0.84 ) The number of common shares used in the computation of diluted net loss per share for the periods presented does not include the effect of the following potentially outstanding common shares because the effect would have been anti-dilutive (amounts in thousands): For the Fiscal Year Ended January 31, 2017 2016 2015 Stock options 1,415 1,493 1,586 Restricted stock units 448 145 217 Deferred stock units 70 31 11 Performance stock units 318 5 — Total 2,251 1,674 1,814 |
Quarterly Results of Operations
Quarterly Results of Operations-Unaudited | 12 Months Ended |
Jan. 31, 2017 | |
Quarterly Financial Information Disclosure [Abstract] | |
Quarterly Results of Operations-Unaudited | 15. Quarterly Results of Operations—Unaudited The following table sets forth certain unaudited quarterly results of operations for fiscal 2017 and fiscal 2016. In the opinion of management, this information has been prepared on the same basis as the audited consolidated financial statements and all necessary adjustments, consisting only of normal recurring adjustments, have been included in the amounts stated below to present fairly the quarterly information when read in conjunction with the audited consolidated financial statements and notes thereto included elsewhere in this Form 10-K. Fiscal Year Ended January 31, 2017 Q1 Q2 Q3 Q4 (Amounts in thousands, except per share data) Revenue $ 21,570 $ 18,452 $ 19,961 $ 23,812 Gross profit 9,149 7,456 9,812 15,763 Operating expenses 18,724 19,124 18,247 40,231 Net loss(1) (8,907 ) (26,884 ) (8,082 ) (27,376 ) Loss per share(2): Basic $ (0.26 ) $ (0.77 ) $ (0.23 ) $ (0.78 ) Diluted $ (0.26 ) $ (0.77 ) $ (0.23 ) $ (0.78 ) Fiscal Year Ended January 31, 2016 Q1 Q2 Q3 Q4 (Amounts in thousands, except per share data) Revenue $ 23,177 $ 27,871 $ 28,747 $ 27,197 Gross profit 10,116 14,427 6,877 15,419 Operating expenses 19,582 19,177 18,718 37,561 Net loss(3) (9,825 ) (5,027 ) (10,565 ) (22,280 ) Loss per share(2): Basic $ (0.29 ) $ (0.16 ) $ (0.31 ) $ (0.66 ) Diluted $ (0.29 ) $ (0.16 ) $ (0.31 ) $ (0.66 ) (1) Net loss in the fourth quarter of fiscal 2017 includes a $23.7 million loss on impairment of long-lived assets as we found during “Step 2” of our annual goodwill impairment test that the carrying value of our goodwill was greater than the implied fair value. As a result, we recorded an impairment charge of $23.5 million. In addition, we fully impaired the fair market value of our facility in Greenville, New Hampshire by recording an impairment charge of $0.2 million as we feel that the sale of this facility is not imminent due to the facility’s location and the market conditions in the area. (2) The sum of per share data may not agree to annual amounts due to rounding. (3) Net loss in the fourth quarter of fiscal 2016 includes a $21.5 million loss on impairment of long-lived assets as a result of our decision to enter into a restructuring plan relating to the Timeline Labs operations. |
Schedule II-Valuation and Quali
Schedule II-Valuation and Qualifying Accounts | 12 Months Ended |
Jan. 31, 2017 | |
Valuation and Qualifying Accounts [Abstract] | |
Schedule II-Valuation and Qualifying Accounts | SEACHANGE INTERNATIONAL, INC. Schedule II—Valuation and Qualifying Accounts For the Fiscal Years Ended January 31, 2017, 2016 and 2015 Additions Deductions and write- offs Balance at end of period Description Balance at period Charged to costs and expenses Charged to other accounts (Amounts in thousands) Accounts Receivable Allowance: Year ended January 31, 2017 $ 415 $ 597 $ (61 ) $ (75 ) $ 876 Year ended January 31, 2016 $ 400 $ 59 $ — $ (44 ) $ 415 Year ended January 31, 2015 $ 327 $ 80 $ — $ (7 ) $ 400 Deferred Tax Assets Valuation Allowance: Year ended January 31, 2017 $ 47,368 $ 10,766 $ — $ — $ 58,134 Year ended January 31, 2016 $ 30,369 $ 16,999 $ — $ — $ 47,368 Year ended January 31, 2015 $ 20,789 $ 9,580 $ — $ — $ 30,369 |
Summary of Significant Accoun23
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Jan. 31, 2017 | |
Accounting Policies [Abstract] | |
Basis of Presentation and Principles of Consolidation | Basis of Presentation and Principles of Consolidation The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”). We consolidate the financial statements of our wholly-owned subsidiaries and all intercompany transactions and account balances have been eliminated in consolidation. We have reclassified certain prior period data to conform to our current fiscal year presentation. We also hold minority investments in the capital stock of certain private companies having product offerings or customer relationships that have strategic importance. We evaluate our equity and debt investments and other contractual relationships with affiliate companies to determine whether the guidelines regarding the consolidation of variable interest entities (“VIEs”) should be applied in the financial statements. We use qualitative analysis to determine whether or not we are the primary beneficiary of a VIE. We consider the rights and obligations conveyed by the implicit and explicit variable interest in each VIE and the relationship of these with the variable interests held by other parties to determine whether its variable interests will absorb most of a VIEs expected losses, receive most of its expected residual returns, or both. If we determine that our variable interests will absorb most of the VIEs expected losses, receive most of their expected residual returns, or both, we consolidate the VIE as the primary beneficiary, and if not, it is not consolidated. We have concluded that we are not the primary beneficiary for any VIEs during fiscal 2016. The Company believes that existing funds and cash provided by future operating activities are adequate to satisfy our working capital, potential acquisitions and capital expenditure requirements and other contractual obligations for the foreseeable future, including at least the next 12 months. However, if our expectations are incorrect, we may need to raise additional funds to fund our operations, to take advantage of unanticipated strategic opportunities or to strengthen our financial position. In the future, we may enter into other arrangements for potential investments in, or acquisitions of, complementary businesses, services or technologies, which could require us to seek additional equity or debt financing. Additional funds may not be available on terms that are favorable. In addition, we actively review potential acquisitions that would complement our existing product offerings, enhance our technical capabilities or expand our marketing and sales presence. Any future transaction of this nature could require potentially significant amounts of capital or could require us to issue our stock and dilute existing stockholders. If adequate funds are not available, or are not available on acceptable terms, we may not be able to take advantage of market opportunities, to develop new products or to otherwise respond to competitive pressures. In the second quarter of fiscal 2017, following a review of our operations, liquidity and funding, and investment in our product roadmap, we determined that the ability to access cash resulting from earnings in prior fiscal years that had previously been deemed permanently restricted for foreign investment would provide greater flexibility to meet the Company’s working capital needs. Accordingly, in the second quarter of fiscal 2017, we withdrew the permanent reinvestment assertion on $58.6 million of earnings generated by our Irish operations through July 2016. We recorded a deferred tax liability of $14.7 million related to the foreign income taxes on $58.6 million of undistributed earnings. |
Use of Estimates | Use of Estimates The preparation of these financial statements in conformity with U.S. GAAP requires management to make estimates and judgments that affect the reported amounts of assets, liabilities, revenues and expenses, and disclosure of contingent assets and liabilities. On an ongoing basis, management evaluates these estimates and judgments, including those related to the timing and amounts of revenue recognition, valuation of inventory, collectability of accounts receivable, valuation of investments and income taxes, assumptions used to determine stock-based compensation, valuation of goodwill and intangible assets and related amortization. Management bases these estimates on historical and anticipated results and trends and on various other assumptions that management believes are reasonable under the circumstances, including assumptions as to future events. These estimates form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. By their nature, estimates are subject to an inherent degree of uncertainty. Actual results may differ from management’s estimates. |
Cash and Cash Equivalents | Cash and Cash Equivalents Cash and cash equivalents include cash on hand and on deposit and highly liquid investments in money market mutual funds, government sponsored enterprise obligations, treasury bills, commercial paper and other money market securities with remaining maturities at date of purchase of 90 days or less. All cash equivalents are carried at cost, which approximates fair value. |
Marketable Securities | Marketable Securities We account for investments in accordance with authoritative guidance that defines investment classifications. We determine the appropriate classification of debt securities at the time of purchase and reevaluate such designation as of each balance sheet date. Our investment portfolio consists primarily of money market funds, U.S. treasury notes or bonds and U.S. government agency bonds at January 31, 2017 and 2016, but can consist of corporate debt investments, asset-backed securities and government-sponsored enterprises. Our marketable securities are classified as available-for-sale We evaluate our investments on a regular basis to determine whether an other-than-temporary decline in fair value has occurred. This evaluation consists of a review of several factors, including, but not limited to: the length of time and extent that an investment has been in an unrealized loss position; the existence of an event that would impair the issuer’s future earnings potential; and our intent and ability to hold an investment for a period of time sufficient to allow for any anticipated recovery in fair value. Declines in value below cost for investments where it is considered probable that all contractual terms of the investment will be satisfied, are due primarily to changes in interest rates, and where the company has the intent and ability to hold the investment for a period sufficient to allow a market recovery, are not assumed to be other-than-temporary. Any other-than-temporary declines in fair value are recorded in earnings and a new cost basis for the investment is established. |
Fair Value Measurements | Fair Value Measurements Definition and Hierarchy The applicable accounting guidance defines fair value as the exchange price that would be received for an asset or paid to transfer a liability in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. The guidance establishes a framework for measuring fair value and expands required disclosure about the fair value measurements of assets and liabilities. This guidance requires us to classify and disclose assets and liabilities measured at fair value on a recurring basis, as well as fair value measurements of assets and liabilities measured on a non-recurring The fair value hierarchy is broken down into three levels based on the reliability of inputs and requires an entity to maximize the use of observable inputs, where available. The following summarizes the three levels of inputs required, as well as the assets and liabilities that we value using those levels of inputs: • Level 1—Observable inputs that reflect quoted prices for identical assets or liabilities in active markets. • Level 2—Observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not very active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. • Level 3—Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. The fair value measurements of the contingent consideration obligations related to our business acquisitions are valued using Level 3 inputs. Valuation Techniques Inputs to valuation techniques are observable and unobservable. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect our market assumptions. When developing fair value estimates for certain financial assets and liabilities, we maximize the use of observable inputs and minimize the use of unobservable inputs. When available, we use quoted market prices, market comparables and discounted cash flow projections. Financial assets include money market funds, U.S. treasury notes or bonds and U.S. government agency bonds. In general, and where applicable, we use quoted prices in active markets for identical assets or liabilities to determine fair value. If quoted prices in active markets for identical assets or liabilities are not available to determine fair value, then we use quoted prices for similar assets and liabilities or inputs that are observable either directly or indirectly. In periods of market inactivity, the observability of prices and inputs may be reduced for certain instruments. This condition could cause an instrument to be reclassified from Level 1 to Level 2 or from Level 2 to Level 3. |
Concentration of Credit Risk | Concentration of Credit Risk Financial instruments which potentially expose us to concentrations of credit risk include cash equivalents, investments in treasury bills, certificates of deposits and commercial paper, trade accounts receivable, accounts payable and accrued liabilities. We have cash investment policies which, among other things, limit investments to investment-grade securities. We restrict our cash equivalents and investments in marketable securities to repurchase agreements with major banks and U.S. government and corporate securities which are subject to minimal credit and market risk. We perform ongoing credit evaluations of our customers. As of January 31, 2017, two customers represented more than 10% of consolidated accounts receivable while as of January 31, 2016, one customer did. For fiscal 2017, one customer accounted for more than 10% of our total revenue compared to two customers accounting for more than 10% of our total revenue in fiscal 2016 and 2015. |
Accounts Receivable and Allowances for Doubtful Accounts | Accounts Receivable and Allowances for Doubtful Accounts For trade accounts receivable, we evaluate customers’ financial condition, require advance payments from certain of our customers and maintain reserves for potential credit losses. We perform ongoing credit evaluations of customers’ financial condition but generally do not require collateral. For some international customers, we may require an irrevocable letter of credit to be issued by the customer before the purchase order is accepted. We monitor payments from customers and assess any collection issues. We maintain an allowance for specific doubtful accounts for estimated losses resulting from the inability of our customers to make required payments and record these allowances as a charge to general and administrative expenses in our consolidated statements of operations and comprehensive loss. We base our allowances for doubtful accounts on historical collections and write-off |
Inventory Valuation | Inventory Valuation Inventories are stated at the lower of cost or net realizable value. Cost is determined using the first-in, first-out |
Property and Equipment | Property and Equipment Property and equipment consists of land and buildings, office and computer equipment, leasehold improvements, demonstration equipment, deployed assets and spare components and assemblies used to service our installed base. Property and equipment are recorded at cost, net of accumulated depreciation and amortization, and are depreciated over their estimated useful lives. Determining the useful lives of property and equipment requires us to make significant judgments that can materially impact our operating results. If our estimates require adjustment, it could have a material impact on our reported results. Demonstration equipment consists of systems manufactured by us for use in marketing and selling activities. Leasehold improvements are amortized over the shorter of their estimated useful lives or the term of the respective leases using the straight-line method. Deployed assets consist of movie systems owned and manufactured by us that are installed in a hotel environment. Deployed assets are depreciated over the life of the related service agreements. Capitalized service and spare components are depreciated over the estimated useful lives using the straight-line method. Maintenance and repair costs are expensed as incurred. Generally, property and equipment include assets in service. Fully depreciated assets remaining in service along with related accumulated depreciation are not removed from the balance sheet until the corresponding asset is removed from service either through a retirement or sale. Upon retirement or sale of an asset or asset group, the cost of the assets disposed of and the related accumulated depreciation are removed from the accounts and the resulting gain or loss, if any, is recognized in other expenses, net in our consolidated statements of operations and comprehensive loss. |
Investments in Affiliates | Investments in Affiliates Our investments in affiliates include investments accounted for under the cost method of accounting as the investments represent less than a 20% ownership interest of the common shares of the affiliate. We periodically review indicators of the fair value of our investments in affiliates to assess whether available facts or circumstances, both internally and externally, may suggest an other-than-temporary decline in the value of the investment. If we determine that an other-than-temporary impairment has occurred, we will write-down the investment to its fair value. The carrying value of an investment in an affiliate accounted for under the cost method of accounting may be affected by the affiliate’s ability to obtain adequate funding and execute its business plans, general market conditions, its current cash position, earnings and cash flow forecasts, recent operational performance, and any other readily available data. We record an impairment charge when we believe an investment has experienced a decline in value that is other-than-temporary. In January 2017, we recorded a $0.5 million impairment charge to loss on impairment of long-lived assets in our consolidated statements of operations and comprehensive loss for one of our cost-method investments as we determined that the fair value of the investment was below its carrying value and that the carrying value was not expected to be recoverable within a reasonable amount of time (see Note 3, “Fair Value Measurements” 10-K |
Intangible Assets and Goodwill | Intangible Assets and Goodwill Intangible assets consist of customer contracts, completed technology, non-compete Intangible assets with finite useful lives: Customer contracts 1 - 8 years Non-compete 2 - 3 years Completed technology 4 - 6 years Trademarks, patents and other 5 - 7 years Certain costs incurred in the application development phase of software development for internal use are capitalized and amortized over the product’s estimated useful life, which is three years. The Company expenses all costs incurred that relate to planning and post implementation phases of development. Capitalized costs related to internally developed software under development are treated as construction in progress until the technology is available for intended use, at which time the amortization commences. Capitalized internally developed software costs were $2.7 million as of January 31, 2017. Maintenance and training costs are expensed as incurred. Goodwill is recorded when the consideration for an acquisition exceeds the fair value of net tangible and identifiable intangible assets acquired. |
Impairment of Assets | Impairment of Assets Indefinite-lived intangible assets, such as goodwill, are not amortized but are evaluated for impairment at the reporting unit level annually, in our third quarter beginning August 1 st The process of evaluating indefinite-lived intangible assets for impairment requires several judgments and assumptions to be made to determine the fair value, including the method used to determine fair value, discount rates, expected levels of cash flows, revenues and earnings, and the selection of comparable companies used to develop market-based assumptions. We may employ the three generally accepted approaches for valuing businesses: the market approach, the income approach and the asset-based (cost) approach to arrive at the fair value. The choice of which approach and methods to use in a particular situation depends on the facts and circumstances. We also evaluate property and equipment, intangible assets with finite useful lives and other long-lived assets on a regular basis for the existence of facts or circumstances, both internal and external that may suggest an asset is not recoverable. If such circumstances exist, we evaluate the carrying value of long-lived assets to determine if impairment exists based upon estimated undiscounted future cash flows over the remaining useful life of the assets and compare that value to the carrying value of the assets. Our cash flow estimates contain management’s best estimates, using appropriate and customary assumptions and projections at the time. In the third quarter of fiscal 2017, we finalized our “Step 1” analysis of our annual goodwill impairment test. Our forecast indicated that the estimated fair value of net assets may be less than its carrying value which is a potential indicator of impairment. As such, we were required to perform “Step 2” of the impairment test during which we compared the implied fair value of our goodwill to its carrying value. We completed the goodwill impairment testing of our reporting unit during the fourth quarter of fiscal 2017. Since the implied fair value of goodwill was determined to be lower than its carrying value, we recorded an impairment charge of $23.5 million to loss on impairment of long-lived assets in our consolidated statements of operations and comprehensive loss (see Note 6, “Goodwill and Intangible Assets” 10-K In January 2017, after a potential buyer declined to purchase our facility in Greenville, New Hampshire, we determined that the sale of this facility was not imminent due to the location of the building and the overall market conditions in the area. Consequently, we decided to fully impair the facility since we felt the carrying amount was greater than the fair value. As a result, we recorded a $0.3 million loss on impairment of long-lived assets in our consolidated statements of operations and comprehensive loss. In the fourth quarter of fiscal 2017, a certain cost-method investment was determined to be impaired and written off. Accordingly, we recorded a $0.5 million impairment charge in January 2017 which is included in loss on investment in affiliates in our consolidated statements of operations and comprehensive loss. The cost-method investment is a privately-held entity without quoted market prices and therefore, falls within Level 3 of the fair value hierarchy due to the use of significant unobservable inputs to determine its fair value. In determining the fair value of this cost-method investment, we considered many factors including, but not limited to, operating performance of the investee, the amount of cash that the investee has on hand and the overall market conditions in which the investee operates. As of January 31, 2016, the Company reviewed the projected future cash flows of the Timeline Labs operations and determined that the carrying amount was greater than the fair value. As a result, all long-term assets related to Timeline Labs were fully impaired and reflected as a $21.9 million loss on impairment of long-lived assets in our consolidated statements of operations and comprehensive loss for the fiscal year ended January 31, 2016 which included: i) $15.8 million relating to the Timeline Labs acquired goodwill, ii) $5.2 million of acquired intangible assets, and iii) $0.9 million of capitalized internal use software. Additionally, we reduced the contingent consideration liability associated with the Timeline Labs acquisition to zero, as we determined the defined performance criteria would not be achieved. Therefore, we recorded the reversal of the liability of $0.4 million to the loss on impairment of long-lived assets. The amount of goodwill impaired represented all the goodwill that resulted from this acquisition due to the short duration of time between the acquisition and the event causing us to impair the assets. |
Income Taxes | Income Taxes Income tax comprises current and deferred tax. Income tax is recognized in the consolidated statements of operations and comprehensive loss except to the extent that it relates to items recognized directly within equity or in other comprehensive loss. Income taxes payable, which is included in other accrued expenses in our consolidated balance sheets, is the expected tax payable on the taxable income for the year, using tax rates enacted or substantially-enacted at the reporting date, and any adjustment to tax payable in respect of previous years. Deferred tax assets and liabilities are recognized, using the balance sheet method, for the expected tax consequences of temporary differences between the carrying amounts of assets and liabilities and the amounts used for taxation purposes. Deferred tax is not recognized for the following temporary differences: the initial recognition of goodwill, the initial recognition of assets and liabilities in a transaction that is not a business combination and that affects neither accounting nor taxable profit, and differences relating to investments in subsidiaries to the extent that they probably will not reverse in the foreseeable future. Deferred tax is measured at the tax rates that are expected to be applied to temporary differences when they reverse, based on the laws that have been enacted or substantially-enacted by the reporting date. A deferred tax asset is recognized for unused tax losses, tax credits and deductible temporary differences, to the extent that it is probable that future taxable profits will be available against which they can be utilized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income in the countries where the deferred tax assets originated and during the periods when the deferred tax assets become deductible. Management considers the scheduled reversal of deferred tax liabilities, projected future taxable income, and tax planning strategies in making this assessment. We operate in multiple jurisdictions with complex tax policy and regulatory environments. In certain of these jurisdictions, we may take tax positions that management believes are supportable, but are potentially subject to successful challenge by the applicable taxing authority. These interpretational differences with the respective governmental taxing authorities can be impacted by the local economic and fiscal environment. We evaluate our tax positions and establish liabilities in accordance with the applicable accounting guidance on uncertainty in income taxes. We review these tax uncertainties in light of changing facts and circumstances, such as the progress of tax audits, and adjust them accordingly. Because there are several estimates and assumptions inherent in calculating the various components of our tax provision, certain changes or future events such as changes in tax legislation, geographic mix of earnings, completion of tax audits or earnings repatriation plans could have an impact on those estimates and our effective tax rate. |
Restructuring | Restructuring Restructuring charges that we record consist of employee-related severance charges, termination costs and the disposal of related equipment. Restructuring charges represent our best estimate of the associated liability at the date the charges are recognized. Adjustments for changes in assumptions are recorded as a component of operating expenses in the period they become known. Differences between actual and expected charges and changes in assumptions could have a material effect on our restructuring accrual as well as our consolidated results of operations. See Note 7, “Severance and Other Restructuring Costs,” 10-K |
Foreign Currency Translation | Foreign Currency Translation For subsidiaries where the U.S. dollar is designated as the functional currency of the entity, we translate that entity’s monetary assets and liabilities denominated in local currencies into U.S. dollars (the functional and reporting currency) at current exchange rates, as of each balance sheet date. Non-monetary For subsidiaries where the local currency is designated as the functional currency, we translate their assets and liabilities into U.S. dollars (the reporting currency) at current exchange rates as of each balance sheet date. Revenue and expense items are translated using average exchange rates during the period. Cumulative translation adjustments are presented as a separate component of stockholders’ equity. Exchange gains and losses on foreign currency transactions and unrealized gains and losses on short-term inter-company transactions are included in other expenses, net. The aggregate foreign exchange transaction losses included in other expenses, net, on the consolidated statements of operations and comprehensive loss, were $2.1 million, $0.7 million and approximately $2.3 million for fiscal 2017, 2016 and 2015, respectively. |
Comprehensive Loss | Comprehensive Loss We present accumulated other comprehensive loss in our consolidated balance sheets and comprehensive loss in the consolidated statement of operations and comprehensive loss. At the end of fiscal 2017, 2016 and 2015, our comprehensive loss of $70.0 million, $48.6 million and $31.1 million consists of net loss, cumulative translation adjustments and unrealized gains and losses on marketable securities. |
Revenue Recognition | Revenue Recognition Our transactions frequently involve the sales of hardware, software, systems and services in multiple-element arrangements. Revenues from sales of hardware, software and systems that do not require significant modification or customization of the underlying software are recognized when: • persuasive evidence of an arrangement exists; • delivery has occurred, and title and risk of loss have passed to the customer; • fees are fixed or determinable; and • collection of the related receivable is considered probable. Customers are billed for installation, training, project management and at least one year of product maintenance and technical support at the time of the product sale. Revenue from these activities is deferred at the time of the product sale and recognized ratably over the period these services are performed. Revenue from ongoing product maintenance and technical support agreements is recognized ratably over the period of the related agreements. Revenue from software development contracts that include significant modification or customization, including software product enhancements, is recognized based on the percentage of completion contract accounting method using labor efforts expended in relation to estimates of total labor efforts to complete the contract. The percentage of completion method requires that adjustments or re-evaluations project-to-date out-of-pocket Contract accounting requires judgment relative to assessing risks, estimating revenues and costs and making assumptions including, in the case of our professional services contracts, the total amount of labor required to complete a project and the complexity of the development and other technical work to be completed. Due to the size and nature of many of our contracts, the estimation of total revenues and cost at completion is complicated and subject to many variables. Assumptions must be made regarding the length of time to complete the contract because costs also include estimated third-party vendor and contract labor costs. Penalties related to performance on contracts are considered in estimating sales and profit, and are recorded when there is sufficient information for us to assess anticipated performance. Third-party vendors’ assertions are also assessed and considered in estimating costs and margin. Revenue from the sale of software-only products remains within the scope of the software revenue recognition rules. Maintenance and support, training, consulting, and installation services no longer fall within the scope of the software revenue recognition rules, except when they are sold with and relate to a software-only product. Revenue recognition for products that no longer fall under the scope of the software revenue recognition rules is like that for other tangible products and Accounting Standard Update No. (“ASU”) 2009-13, “Revenue Recognition (Topic 605): Multiple-Deliverable Revenue Arrangements,” 2009-13 Under the software revenue recognition rules, the fee is allocated to the various elements based on vendor-specific objective evidence (“VSOE”) of fair value. Under this method, the total arrangement value is allocated first to undelivered elements based on their fair values, with the remainder being allocated to the delivered elements. Where fair value of undelivered service elements has not been established, the total arrangement value is recognized over the period during which the services are performed. The amounts allocated to undelivered elements, which may include project management, training, installation, maintenance and technical support and certain hardware and software components, are based upon the price charged when these elements are sold separately and unaccompanied by the other elements. The amount allocated to installation, training and project management revenue is based upon standard hourly billing rates and the estimated time necessary to complete the service. These services are not essential to the functionality of systems as these services do not alter the equipment’s capabilities, are available from other vendors and the systems are standard products. For multiple-element arrangements that include software development with significant modification or customization and systems sales where VSOE of the fair value does not exist for the undelivered elements of the arrangement (other than maintenance and technical support), percentage of completion accounting is applied for revenue recognition purposes to the entire arrangement except for maintenance and technical support. Under the revenue recognition rules for tangible products as amended by ASU 2009-13, The selling prices used in the relative selling price allocation method for certain of our services are based upon VSOE. The selling prices used in the relative selling price allocation method for third-party products from other vendors are based upon TPE. The selling prices used in the relative selling price allocation method for our hardware products, software, subscriptions, and customized services for which VSOE does not exist are based upon BESP. We do not believe TPE exists for these products and services because they are differentiated from competing products and services in terms of functionality and performance and there are no competing products or services that are largely interchangeable. Management establishes BESP with consideration for market conditions, such as the impact of competition and geographic considerations, and entity-specific factors, such as the cost of the product, discounts provided and profit objectives. Management believes that BESP is reflective of reasonable pricing of that deliverable as if priced on a stand-alone basis. For our cloud and managed service revenues, we generate revenue from two sources: (1) subscription and support services; and (2) professional services and other. Subscription and support revenue includes subscription fees from customers accessing our cloud-based software platform and support fees. Our arrangements with customers do not provide the customer with the right to take possession of the software supporting the cloud-based software platform at any time. Professional services and other revenue include fees from implementation and customization to support customer requirements. Amounts that have been invoiced are recorded in accounts receivable and in deferred revenue or revenue, depending on whether the revenue recognition criteria have been met. For the most part, subscription and support agreements are entered into for 12 to 36 months. Generally, most of the professional services components of the arrangements with customers are performed within a year of entering a contract with the customer. In most instances, revenue from a new customer acquisition is generated under sales agreements with multiple elements, comprised of subscription and support and other professional services. We evaluate each element in a multiple-element arrangement to determine whether it represents a separate unit of accounting. An element constitutes a separate unit of accounting when the delivered item has standalone value and delivery of the undelivered element is probable and within our control. In determining when to recognize revenue from a customer arrangement, we are often required to exercise judgment regarding the application of our accounting policies to an arrangement. The primary judgments used in evaluating revenue recognized in each period involve: determining whether collection is probable, assessing whether the fee is fixed or determinable, and determining the fair value of the maintenance and service elements included in multiple-element software arrangements. Such judgments can materially impact the amount of revenue that we record in a given period. While we follow specific and detailed rules and guidelines related to revenue recognition, we make and use significant management judgments and estimates about the revenue recognized in any reporting period, particularly in the areas described above. If management made different estimates or judgments, material differences in the timing of the recognition of revenue could occur. |
Stock-based Compensation | Stock-based Compensation We account for all employee and non-employee non-market-based non-market-based |
Advertising Costs | Advertising Costs Advertising costs are charged to expense as incurred. Advertising costs were $0.1 million for fiscal 2017, 2016 and 2015, respectively. |
Earnings Per Share | Earnings Per Share Earnings per share are presented in accordance with authoritative guidance which requires the presentation of “basic” earnings per share and “diluted” earnings per share. Basic earnings per share is computed by dividing earnings available to common shareholders by the weighted-average shares of common stock outstanding during the period. For the purposes of calculating diluted earnings per share, the denominator includes both the weighted average number of shares of common stock outstanding during the period and the weighted average number of potential shares of common stock, such as stock options and restricted stock, calculated using the treasury stock method. For calculating diluted loss per share, we do not include these shares in the denominator because these shares would have an anti-dilutive effect on periods in which we incur a net loss. Certain shares of our common stock have exercise prices in excess of the average market price. These shares are anti-dilutive and are omitted from the calculation of earnings per share. For more information on this see Note 14., “Net Loss Per Share,” 10-K. |
Recent Accounting Pronouncements | Recent Accounting Pronouncements Recently Issued Accounting Standards Updates—Not Yet Adopted We consider the applicability and impact of all ASUs. Updates not listed below were assessed and determined to be either not applicable or are expected to have minimal impact on our consolidated financial position or results of operations. Revenue from Contracts with Customers (Topic 606) In May 2014, the Financial Accounting Standards Board (“FASB”) issued ASU 2014-09, “Revenue from Contracts with Customers (Topic 606),” Subsequently, the FASB issued ASUs in 2016 containing implementation guidance related to ASU 2014-09. In March 2016, the FASB issued ASU 2016-08, “Principal versus Agent Considerations (Reporting Revenue Gross versus Net),” “Identifying Performance Obligations and Licensing,” “Narrow-Scope Improvements and Practical Expedients” Leases In February 2016, the FASB issued ASU 2016-02, “Leases (Topic 842).” 2016-02 right-of-use 2016-02 Stock Compensation In March 2016, the FASB issued ASU 2016-09, “Compensation—Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting.” 2016-09 2016-09 The new standard requires prospective recognition of excess tax benefits and deficiencies resulting from the vesting and exercise of stock awards in the income statement. Previously, these amounts were recognized in additional paid-in-capital. 2016-09 Once we adopt this guidance, we will elect to continue to estimate the number of stock-based awards expected to vest, as permitted by ASU 2016-09, This ASU requires that employee taxes paid when an employer withholds shares for tax-withholding Cash Flow Statement In August 2016, the FASB issued ASU 2016-15, “Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments,” 2016-15 2016-15 In November 2016, the FASB issued ASU 2016-18, “Statement of Cash Flows (Topic 230): Restricted Cash.” 2016-18 2016-18 Intangibles-Goodwill and Other In January 2017, the FASB issued ASU 2017-04, “Intangibles-Goodwill and Other (Topic 350), two-step |
Summary of Significant Accoun24
Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Jan. 31, 2017 | |
Components of Identified Intangible Assets Associated with Acquisition and their Estimated Useful Lives | The intangible assets are amortized to cost of sales and operating expenses, as appropriate, on a straight-line or accelerated basis, using the economic consumption life basis, to reflect the period that the assets will be consumed, which are: Intangible assets with finite useful lives: Customer contracts 1 - 8 years Non-compete 2 - 3 years Completed technology 4 - 6 years Trademarks, patents and other 5 - 7 years |
DCC Labs [Member] | |
Components of Identified Intangible Assets Associated with Acquisition and their Estimated Useful Lives | The following table sets forth the components of the identified intangible assets associated with the DCC Labs acquisition and their estimated useful lives: Useful life Fair Value (Amounts in thousands) Tradename 4 years $ 60 Customer contracts 2 years 230 Non-compete 2 years 30 Existing technology 3 years 490 $ 810 |
Timeline Labs [Member] | |
Components of Identified Intangible Assets Associated with Acquisition and their Estimated Useful Lives | The following table sets forth the components of the identified intangible assets associated with the Timeline Labs acquisition and their estimated useful lives: Useful life Fair Value (Amounts in thousands) Tradename 7 years $ 620 Customer contracts 7 years 4,760 Non-compete 2 years 170 Existing technology 5 years 1,170 $ 6,720 |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 12 Months Ended |
Jan. 31, 2017 | |
Fair Value Disclosures [Abstract] | |
Fair Value of Financial Assets and Liabilities Measured on Recurring Basis | The following tables set forth our financial assets and liabilities that were accounted for at fair value on a recurring basis as of January 31, 2017 and January 31, 2016. There were no fair value measurements of our financial assets and liabilities using significant level 3 inputs for the periods presented: Fair Value at January 31, 2017 Using January 31, Quoted Prices in Active Markets for Significant (Level 2) (Amounts in thousands) Financial assets: Money market accounts (a) $ 2,726 $ 2,726 $ — Available-for-sale Current marketable securities: U.S. treasury notes and bonds—conventional 4,253 4,253 — U.S. government agency issues 1,000 — 1,000 Non-current U.S. treasury notes and bonds—conventional 1,997 1,997 — U.S. government agency issues 2,994 — 2,994 Total $ 12,970 $ 8,976 $ 3,994 Fair Value at January 31, 2016 Using January 31, Quoted Prices in Active Markets for Significant (Level 2) (Amounts in thousands) Financial assets: Money market accounts (a) $ 3,654 $ 3,654 $ — Available-for-sale Current marketable securities: U.S. treasury notes and bonds—conventional 502 502 — U.S. government agency issues 1,002 — 1,002 Non-current U.S. treasury notes and bonds—conventional 7,762 7,762 — U.S. government agency issues 3,002 — 3,002 Total $ 15,922 $ 11,918 $ 4,004 a) Money market funds and U.S. treasury bills are included in cash and cash equivalents on the accompanying consolidated balance sheets and are valued at quoted market prices for identical instruments in active markets. |
Summary of Available-for-Sale Securities | The following is a summary of cash, cash equivalents and available-for-sale short-and Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value (Amounts in thousands) January 31, 2017: Cash $ 25,576 $ — $ — $ 25,576 Cash equivalents 2,726 — — 2,726 Cash and cash equivalents 28,302 — — 28,302 U.S. treasury notes and bonds—short-term 4,248 5 — 4,253 U.S. treasury notes and bonds—long-term 2,003 — (6 ) 1,997 U.S. government agency issues—short-term 991 9 — 1,000 U.S. government agency issues—long-term 2,996 — (2 ) 2,994 Total cash, cash equivalents and marketable securities $ 38,540 $ 14 $ (8 ) $ 38,546 January 31, 2016: Cash $ 55,079 $ — $ — $ 55,079 Cash equivalents 3,654 — — 3,654 Cash and cash equivalents 58,733 — — 58,733 U.S. treasury notes and bonds—short-term 503 — (1 ) 502 U.S. treasury notes and bonds—long-term 7,756 6 — 7,762 U.S. government agency issues—short-term 1,001 1 — 1,002 U.S. government agency issues—long-term 2,977 25 — 3,002 Total cash, cash equivalents and marketable securities $ 70,970 $ 32 $ (1 ) $ 71,001 |
Schedule of Contractual Maturities Available-for-Sale Debt Securities | Contractual maturities of available-for-sale Estimated Maturity of one year or less $ 5,253 Maturity between one and five years 4,991 Total $ 10,244 |
Acquisitions and Loss on Impa26
Acquisitions and Loss on Impairment of TLL, LLC (Tables) | 12 Months Ended |
Jan. 31, 2017 | |
DCC Labs [Member] | |
Summary of Allocation of Purchase Price | The allocation of purchase price was as follows (amounts in thousands): Estimated Fair value of consideration: Cash, net of cash acquired $ 5,243 Stock consideration 2,640 Total purchase price $ 7,883 Estimated Fair value of assets acquired and liabilities assumed: Current assets 826 Other long-term assets 116 Finite-life intangible assets 810 Goodwill 7,255 Current liabilities (618 ) Other long-term liabilities (506 ) Allocated purchase price $ 7,883 |
Timeline Labs [Member] | |
Summary of Allocation of Purchase Price | The allocation of the purchase price was as follows (amounts in thousands): Fair value of consideration: Cash, net of cash acquired $ 14,186 Closing stock consideration 3,019 Deferred stock consideration 4,959 Contingent consideration 475 Total purchase price $ 22,639 Fair value of assets acquired and liabilities assumed: Current assets 95 Other long-term assets 108 Finite-life intangible assets 6,720 Goodwill 15,787 Current liabilities (71 ) Allocated purchase price $ 22,639 |
Consolidated Balance Sheet De27
Consolidated Balance Sheet Detail (Tables) | 12 Months Ended |
Jan. 31, 2017 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Schedule of Inventories | Inventories consist primarily of hardware and related component parts and are stated at the lower of cost (on a first-in, first-out January 31, 2017 2016 (Amounts in thousands) Components and assemblies $ 500 $ 1,223 Finished products 270 459 Total inventories, net $ 770 $ 1,682 |
Property and Equipment, Net | Property and equipment, net consists of the following: Estimated Life (Years) January 31, 2017 2016 (Amounts in thousands) Land $ 2,780 $ 2,880 Buildings 20 11,726 11,908 Office furniture and equipment 5 1,091 1,099 Computer equipment, software and demonstration equipment 3 18,194 18,639 Service and spare components 5 1,158 1,158 Leasehold improvements 1-7 1,064 1,087 36,013 36,771 Less—Accumulated depreciation and amortization (24,528 ) (22,642 ) Total property and equipment, net $ 11,485 $ 14,129 |
Other Accrued Expenses | Other accrued expenses consist of the following: January 31, 2017 2016 (Amounts in thousands) Accrued compensation and commissions $ 1,799 $ 1,676 Accrued bonuses 1,871 2,902 Accrued restructuring 1,023 — Employee benefits 885 1,484 Accrued provision for contract loss(1) 168 6,497 Accrued other 4,182 4,855 Total other accrued expenses $ 9,928 $ 17,414 (1) Includes a reduction to the provision for loss contract of $4.1 million recorded in the fourth quarter of fiscal 2017 resulting from an amendment to a contract with a fixed-price customer which changed the scope of the project and add the remaining costs and revenue to complete the project. |
Goodwill and Intangible Assets
Goodwill and Intangible Assets (Tables) | 12 Months Ended |
Jan. 31, 2017 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Schedule of Change in Carrying Amount of Goodwill | At January 31, 2017 and 2016, we had goodwill of $23.3 million and $40.2 million, respectively. The following table represents the changes in goodwill for the fiscal year ended January 31, 2017 (amounts in thousands): Balance as of February 1, 2016: Goodwill, gross $ 55,962 Accumulated impairment losses (15,787 ) Goodwill, net 40,175 Acquisition of DCC Labs 7,255 Goodwill impairment charge (23,492 ) Cumulative translation adjustment (651 ) Balance as of January 31, 2017 Goodwill, gross 61,707 Accumulated impairment losses (39,279 ) Goodwill, net $ 23,287 |
Schedule of Intangible Assets | Intangible assets, net, consisted of the following at January 31, 2017 and 2016: January 31, 2017 January 31, 2016 Weighted average Gross Accumulated Net Gross Accumulated Net (Amounts in thousands) Finite-lived intangible assets: Customer contracts 2.4 $ 30,056 $ (28,019 ) $ 2,037 $ 29,956 $ (26,284 ) $ 3,672 Non-compete 1.3 2,374 (2,356 ) 18 2,365 (2,365 ) — Completed technology 2.4 10,496 (9,997 ) 499 10,075 (9,621 ) 454 Trademarks, patents and other 3.3 7,125 (7,076 ) 49 7,068 (7,068 ) — Total finite-lived intangible assets 2.4 $ 50,051 $ (47,448 ) $ 2,603 $ 49,464 $ (45,338 ) $ 4,126 |
Schedule of Finite-Life Intangible Assets, Future Amortization Expense | The total amortization expense for each of the next five fiscal years is as follows (amounts in thousands): For the Fiscal Years Ended January 31, Estimated 2018 $ 1,412 2019 931 2020 257 2021 3 2022 — 2023 and thereafter — Total $ 2,603 |
Severance and Other Restructu29
Severance and Other Restructuring Costs (Tables) | 12 Months Ended |
Jan. 31, 2017 | |
Restructuring and Related Activities [Abstract] | |
Change in Severance Liability | The following table shows the change in balances of our accrued restructuring reported as a component of other accrued expenses on the consolidated balance sheet as of January 31, 2017 (amounts in thousands): Employee- Closure of Other Total Accrual balance as of January 31, 2016 $ — $ — $ — $ — Restructuring charges incurred 4,543 509 603 5,655 Cash payments (3,741 ) (379 ) (495 ) (4,615 ) Other charges (17 ) — — (17 ) Accrual balance as of January 31, 2017 $ 785 $ 130 $ 108 $ 1,023 |
Commitments and Contingencies (
Commitments and Contingencies (Tables) | 12 Months Ended |
Jan. 31, 2017 | |
Commitments and Contingencies Disclosure [Abstract] | |
Schedule of Future Minimum Rental Payments for Operating Leases | Future commitments under minimum lease payments as of January 31, 2017 are as follows (amounts in thousands): For the Fiscal Years Ended January 31, Operating 2018 $ 1,826 2019 1,604 2020 1,234 2021 747 2022 461 2023 and thereafter 116 Minimum operating lease payments $ 5,988 |
Stockholders' Equity (Tables)
Stockholders' Equity (Tables) | 12 Months Ended |
Jan. 31, 2017 | |
Equity [Abstract] | |
Effect of Recording Stock Based Compensation | The effect of recording stock-based compensation was as follows: For the Fiscal Years Ended January 31, 2017 2016 2015 (Amounts in thousands) Stock-based compensation expense by type of award: Stock options $ 873 $ 1,257 $ 1,036 Restricted stock units 624 1,203 1,607 Deferred stock units 709 607 500 Performance-based restricted stock units 398 475 77 Employee stock purchase plan 17 10 — Total stock-based compensation $ 2,621 $ 3,552 $ 3,220 |
Fair Value of Stock Options Granted | The fair value of stock options granted was estimated at the date of grant using the following assumptions: For the Fiscal Years Ended January 31, 2017 2016 2015 Expected term (in years) 6-7 6-7 6.5 Expected volatility (range) 40-45% 40-45% 46% Weighted average volatility 42% 42% 46% Risk-free interest rate 1.0-2.0% 1.5-2.0% 1.7% Weighted average interest rate 1.1% 1.6% 1.7% Expected dividend yield 0% 0% 0% |
Stock Option Activity | The following table summarizes the Company’s stock option activity: For the Fiscal Years Ended January 31, 2017 2016 2015 Shares Weighted average exercise price Shares Weighted average exercise price Shares Weighted average exercise price Outstanding at beginning of period 1,192,677 $ 6.80 1,626,421 $ 7.77 1,502,176 $ 9.77 Granted 1,581,614 $ 4.02 612,678 $ 6.44 500,000 $ 7.23 Exercised — $ — (28,740 ) $ 6.74 — $ — Forfeited/expired/cancelled (632,724 ) $ 6.98 (1,017,682 ) $ 8.13 (375,755 ) $ 15.06 Outstanding at end of period 2,141,567 $ 4.70 1,192,677 $ 6.80 1,626,421 $ 7.77 Options exercisable at end of period 203,982 $ 6.28 80,000 $ 6.83 1,108,115 $ 8.02 Weighted average remaining contractual term (in years) 8.01 8.10 4.72 |
Summary of Information about Stock Options Outstanding and Exercisable | The following table summarizes information about stock options outstanding and exercisable as of January 31, 2017: Options Outstanding Options Exercisable Number Weighted average remaining contractual terms (years) Weighted average exercise price Number exercisable Weighted average exercise price Range of exercise prices $2.42 to $2.42 425,546 9.50 $ 2.42 — $ — $2.64 to $2.89 135,000 9.68 $ 2.73 — $ — $3.30 to $3.41 150,000 9.38 $ 3.34 — $ — $3.50 to $3.50 100,000 9.26 $ 3.50 — $ — $3.77 to $3.77 21,068 2.25 $ 3.77 7,023 $ 3.77 $3.83 to $3.83 75,000 9.21 $ 3.83 — $ — $5.50 to $5.50 75,000 0.31 $ 5.50 — $ — $5.56 to $7.25 800,000 8.97 $ 5.98 — $ — $6.05 to $6.05 279,953 4.94 $ 6.05 116,959 $ 6.05 $6.74 to $6.74 75,000 1.96 $ 6.74 75,000 $ 6.74 $8.15 to $8.15 5,000 2.42 $ 8.15 5,000 $ 8.15 2,141,567 8.01 $ 4.70 203,982 $ 6.28 |
Summary of Stock Unit Activity | The following table summarizes the stock unit activity: For the Fiscal Years Ended January 31, 2017 2016 2015 Shares Weighted average Shares Weighted average Shares Weighted average Unvested at beginning of period 1,053,045 $ 7.34 435,306 $ 8.91 446,468 $ 9.81 Awarded 837,927 $ 3.07 904,344 $ 6.46 314,057 $ 8.60 Vested (208,474 ) $ 3.46 (277,373 ) $ 6.89 (287,485 ) $ 9.83 Forfeited/expired/cancelled (229,440 ) $ 6.68 (9,232 ) $ 8.42 (37,734 ) $ 10.01 Unvested at end of period 1,453,058 $ 5.54 1,053,045 $ 7.34 435,306 $ 8.91 |
Accumulated Other Comprehensi32
Accumulated Other Comprehensive Loss (Tables) | 12 Months Ended |
Jan. 31, 2017 | |
Equity [Abstract] | |
Schedule of Accumulated Other Comprehensive Loss | Accumulated other comprehensive loss consisted of the following: Foreign Changes in for-Sale Accumulated (Amounts in thousands) Balance at January 31, 2015 $ (5,797 ) $ 43 $ (5,754 ) Other comprehensive loss (847 ) (12 ) (859 ) Balance at January 31, 2016 (6,644 ) 31 (6,613 ) Other comprehensive income (loss) 1,267 (25 ) 1,242 Balance at January 31, 2017 $ (5,377 ) $ 6 $ (5,371 ) |
Segment Information, Signific33
Segment Information, Significant Customers and Geographic Information (Tables) | 12 Months Ended |
Jan. 31, 2017 | |
Segment Reporting [Abstract] | |
Schedule of Revenue by Major Customers by Reporting Segments | The following table summarizes revenues by significant customers where such revenue exceeded 10% of total revenues for the indicated period: For Fiscal Years Ended January 31, 2017 2016 2015 Customer A 30 % 28 % 17 % Customer B N/A 10 % 17 % |
Schedule of Revenue from External Customers Attributed to Foreign Countries by Geographic Area | The following summarizes revenues by customers’ geographic locations: For the Fiscal Years Ended January 31, 2017 2016 2015 Amount % Amount % Amount % (Amounts in thousands, except percentages) Revenues by customers’ geographic locations: North America(1) $ 37,570 45 % $ 58,113 55 % $ 64,755 56 % Europe and Middle East 38,169 45 % 42,201 39 % 39,387 34 % Latin America 5,764 7 % 4,707 4 % 6,829 6 % Asia Pacific 2,292 3 % 1,971 2 % 4,464 4 % Total revenues $ 83,795 $ 106,992 $ 115,435 (1) Includes total revenue for the United States for the periods shown as follows: For the Fiscal Years Ended January 31, 2017 2016 2015 (Amounts in thousands, except percentages) U.S. Revenue $ 30,094 $ 46,978 $ 59,819 % of total revenue 35.9 % 43.9 % 51.8 % |
Long-Lived Assets by Geographic Locations | The following summarizes long-lived assets by geographic locations: January 31, 2017 2016 Amount % Amount % (Amounts in thousands, except percentages) Long-lived assets by geographic locations(1): North America $ 14,729 80 % $ 18,944 79 % Europe and Middle East 2,878 16 % 3,575 15 % Asia Pacific 817 4 % 1,372 6 % Total long-lived assets by geographic location $ 18,424 $ 23,891 (1) Excludes marketable securities, long-term and goodwill. |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Jan. 31, 2017 | |
Income Tax Disclosure [Abstract] | |
Components of Loss from Continuing Operations before Income Taxes | The components of loss from continuing operations before income taxes are as follows: For the Fiscal Years Ended January 31, 2017 2016 2015 (Amounts in thousands) Domestic $ (40,452 ) $ (38,709 ) $ (25,920 ) Foreign (16,166 ) (10,044 ) (2,694 ) Loss from continuing operations before income taxes $ (56,618 ) $ (48,753 ) $ (28,614 ) |
Components of Income Tax Provision (Benefit) from Continuing Operations | The components of the income tax provision (benefit) from continuing operations are as follows: For the Fiscal Years Ended January 31, 2017 2016 2015 (Amounts in thousands) Current: Federal $ — $ — $ — State 50 50 (762 ) Foreign (94 ) (49 ) 24 Total (44 ) 1 (738 ) Deferred: Foreign 14,675 (1,030 ) (368 ) Total 14,675 (1,030 ) (368 ) Income tax (benefit) provision $ 14,631 $ (1,029 ) $ (1,106 ) |
Income Tax Provision (Benefit) for Continuing Operations Computed Using Federal Statutory Income Tax Rate | The income tax provision (benefit) for continuing operations computed using the federal statutory income tax rate differs from our effective tax rate primarily due to the following: For the Fiscal Years Ended January 31, 2017 2016 2015 (Amounts in thousands) Statutory U.S. federal tax rate $ (19,816 ) $ (17,066 ) $ (10,014 ) State taxes, net of federal tax benefit 32 33 (779 ) Income (losses) not benefitted 10,679 15,712 8,913 Non-deductible 266 3 — Other non-deductible 252 (31 ) (74 ) Innovative technology and development incentive — (189 ) (68 ) Foreign tax rate differential 3,499 509 916 APB 23 deferred tax liability 14,675 — — Goodwill impairment 5,044 — — Income tax provision (benefit) $ 14,631 $ (1,029 ) $ (1,106 ) (1) Within the other line in the table above, other non-deductible items were $0.1 million and ($0.2) million for the fiscal years ended January 31, 2017 and 2016, respectively, and were immaterial for fiscal 2015. These items have been aggregated with various adjustments related to differences in prior year U.S. and foreign tax provisions and the actual returns filed. |
Components of Deferred Income Taxes | The components of deferred income taxes are as follows: January 31, 2017 2016 (Amounts in thousands) Deferred tax assets: Accruals and reserves $ 1,815 $ 5,041 Deferred revenue 79 346 Stock-based compensation expense 3,730 3,655 U.S. federal, state and foreign tax credits 7,459 7,510 Intangible assets 6,834 7,153 Loss carryforwards 38,356 24,172 Deferred tax assets 58,273 47,877 Less: Valuation allowance (58,134 ) (47,368 ) Net deferred tax assets 139 509 Deferred tax liabilities: APB 23 deferred tax liability 14,675 — Other 75 75 Property and equipment 121 426 Total net deferred tax (liabilities) assets $ (14,732 ) $ 8 |
Reconciliation of Beginning and Ending Balance of Total Amounts of Gross Unrecognized Tax Benefits | A reconciliation of the beginning and ending balance of the total amounts of gross unrecognized tax benefits, excluding interest of $0.3 million, is as follows: For the Fiscal Years Ended January 31, 2017 2016 (Amounts in thousands) Balance of gross unrecognized tax benefits, beginning of period $ 5,151 $ 5,527 Gross amounts of increases in unrecognized tax benefits as a result of tax positions taken in the current period 321 — Decrease due to expiration of statute of limitation (269 ) (325 ) Decrease for tax positions related to prior years (96 ) — Effect of currency translation (14 ) (51 ) Balance of gross unrecognized tax benefits, end of period $ 5,093 $ 5,151 |
Employee Benefit Plans (Tables)
Employee Benefit Plans (Tables) | 12 Months Ended |
Jan. 31, 2017 | |
Postemployment Benefits [Abstract] | |
Components of the Change in Pension Benefit Obligation | The components of the change in this pension benefit obligation as of January 31, 2017 and 2016 is as follows: January 31, 2017 2016 (Amounts in thousands) Projected benefit obligation, beginning of fiscal year $ 1,063 $ 1,247 Service cost 238 288 Interest cost 54 51 Actuarial gain (801 ) (435 ) Foreign currency exchange rate changes (24 ) (88 ) Projected benefit obligation, end of fiscal year $ 530 $ 1,063 Funded status at end of fiscal year(1) $ 530 $ 1,063 (1) These unfunded amounts are included in other liabilities, long-term on our consolidated balance sheets for the periods presented. |
Components of Net Periodic Benefit Cost of the Pension Plan | The following sets forth the components of our net periodic benefit cost under the pension plan: January 31, 2017 2016 2015 (Amounts in thousands) Service cost $ 238 $ 288 $ 176 Interest cost 54 51 39 Actuarial (gain) loss (801 ) (435 ) 379 Net periodic benefit cost $ (509 ) $ (96 ) $ 594 |
Details of Weighted Average Assumptions Used in the Accounting for the Pension Plan | Key weighted average assumptions used in the accounting for the pension plan to determine the benefit obligation and net benefit cost were as follows: January 31, 2017 2016 Discount rate 5.72 % 5.08 % Compensation increase rate 5.00 % 7.00 % |
Net Loss Per Share (Tables)
Net Loss Per Share (Tables) | 12 Months Ended |
Jan. 31, 2017 | |
Earnings Per Share [Abstract] | |
Schedule of Earnings Per Share, Basic and Diluted | The following table sets forth our computation of basic and diluted net loss per common share (amounts in thousands, except per share data): For the Fiscal Years Ended January 31, 2017 2016 2015 Net loss from continuing operations $ (71,249 ) $ (47,697 ) $ (27,489 ) Net income from discontinued operations — — 5 Net loss $ (71,249 ) $ (47,697 ) $ (27,484 ) Weighted average shares used in computing net loss per share—basic and diluted 34,970 33,506 32,772 Net loss per share—basic and diluted: Loss from continuing operations $ (2.04 ) $ (1.42 ) $ (0.84 ) Income from discontinued operations — — 0.00 Net loss per share—basic and diluted $ (2.04 ) $ (1.42 ) $ (0.84 ) |
Schedule of Anti-dilutive Securities Excluded from Computation of Earnings Per Share | The number of common shares used in the computation of diluted net loss per share for the periods presented does not include the effect of the following potentially outstanding common shares because the effect would have been anti-dilutive (amounts in thousands): For the Fiscal Year Ended January 31, 2017 2016 2015 Stock options 1,415 1,493 1,586 Restricted stock units 448 145 217 Deferred stock units 70 31 11 Performance stock units 318 5 — Total 2,251 1,674 1,814 |
Quarterly Results of Operatio37
Quarterly Results of Operations-Unaudited (Tables) | 12 Months Ended |
Jan. 31, 2017 | |
Quarterly Financial Information Disclosure [Abstract] | |
Quarterly Results of Operations | The following table sets forth certain unaudited quarterly results of operations for fiscal 2017 and fiscal 2016. In the opinion of management, this information has been prepared on the same basis as the audited consolidated financial statements and all necessary adjustments, consisting only of normal recurring adjustments, have been included in the amounts stated below to present fairly the quarterly information when read in conjunction with the audited consolidated financial statements and notes thereto included elsewhere in this Form 10-K. Fiscal Year Ended January 31, 2017 Q1 Q2 Q3 Q4 (Amounts in thousands, except per share data) Revenue $ 21,570 $ 18,452 $ 19,961 $ 23,812 Gross profit 9,149 7,456 9,812 15,763 Operating expenses 18,724 19,124 18,247 40,231 Net loss(1) (8,907 ) (26,884 ) (8,082 ) (27,376 ) Loss per share(2): Basic $ (0.26 ) $ (0.77 ) $ (0.23 ) $ (0.78 ) Diluted $ (0.26 ) $ (0.77 ) $ (0.23 ) $ (0.78 ) Fiscal Year Ended January 31, 2016 Q1 Q2 Q3 Q4 (Amounts in thousands, except per share data) Revenue $ 23,177 $ 27,871 $ 28,747 $ 27,197 Gross profit 10,116 14,427 6,877 15,419 Operating expenses 19,582 19,177 18,718 37,561 Net loss(3) (9,825 ) (5,027 ) (10,565 ) (22,280 ) Loss per share(2): Basic $ (0.29 ) $ (0.16 ) $ (0.31 ) $ (0.66 ) Diluted $ (0.29 ) $ (0.16 ) $ (0.31 ) $ (0.66 ) (1) Net loss in the fourth quarter of fiscal 2017 includes a $23.7 million loss on impairment of long-lived assets as we found during “Step 2” of our annual goodwill impairment test that the carrying value of our goodwill was greater than the implied fair value. As a result, we recorded an impairment charge of $23.5 million. In addition, we fully impaired the fair market value of our facility in Greenville, New Hampshire by recording an impairment charge of $0.2 million as we feel that the sale of this facility is not imminent due to the facility’s location and the market conditions in the area. (2) The sum of per share data may not agree to annual amounts due to rounding. (3) Net loss in the fourth quarter of fiscal 2016 includes a $21.5 million loss on impairment of long-lived assets as a result of our decision to enter into a restructuring plan relating to the Timeline Labs operations. |
Summary of Significant Accoun38
Summary of Significant Accounting Policies - Additional Information (Detail) | Jan. 31, 2016USD ($) | Jan. 31, 2017USD ($) | Jan. 31, 2017USD ($) | Jan. 31, 2016USD ($) | Jan. 31, 2017USD ($)Customer | Jan. 31, 2016USD ($)Customer | Jan. 31, 2015USD ($)Customer | Jul. 31, 2016USD ($) | Feb. 28, 2015USD ($) |
Significant Accounting Policies [Line Items] | |||||||||
Undistributed earnings of foreign subsidiaries | $ 6,000,000 | $ 6,000,000 | $ 6,000,000 | ||||||
Deferred tax liability related to the foreign income | 14,675,000 | 14,675,000 | 14,675,000 | ||||||
Allowance for doubtful accounts receivable | $ 415,000 | $ 876,000 | $ 876,000 | $ 415,000 | $ 876,000 | $ 415,000 | |||
Cost method investment, ownership percentage | 20.00% | 20.00% | 20.00% | ||||||
Loss on impairment | $ 500,000 | $ 23,500,000 | 21,500,000 | $ 23,772,000 | 21,464,000 | ||||
Identified intangible assets, Useful life | 2 years 4 months 24 days | ||||||||
Capitalized software costs | 2,700,000 | 2,700,000 | $ 2,700,000 | ||||||
Goodwill impairment charge | 23,492,000 | ||||||||
Loss on impairment of long-lived assets held for sale | 300,000 | ||||||||
Contingent consideration liability, fair value | 0 | 0 | 0 | $ 3,200,000 | |||||
Foreign currency transaction gain (loss), realized | 2,100,000 | 700,000 | $ 2,300,000 | ||||||
Comprehensive loss | $ (70,007,000) | (48,556,000) | (31,106,000) | ||||||
Minimum period warranty of product | 1 year | ||||||||
Advertising expense | $ 100,000 | 100,000 | 100,000 | ||||||
Excess tax benefit due to early adoption | 14,631,000 | (1,029,000) | $ (1,106,000) | ||||||
ASU 2016-09 [Member] | |||||||||
Significant Accounting Policies [Line Items] | |||||||||
Excess tax benefit due to early adoption | $ 1,800,000 | ||||||||
Software Development [Member] | |||||||||
Significant Accounting Policies [Line Items] | |||||||||
Identified intangible assets, Useful life | 3 years | ||||||||
Irish Operations [Member] | |||||||||
Significant Accounting Policies [Line Items] | |||||||||
Undistributed earnings of foreign subsidiaries | $ 58,600,000 | ||||||||
Deferred tax liability related to the foreign income | $ 14,700,000 | ||||||||
Timeline Labs [Member] | |||||||||
Significant Accounting Policies [Line Items] | |||||||||
Loss on impairment | 21,900,000 | 21,900,000 | |||||||
Goodwill impairment charge | 15,800,000 | 15,800,000 | |||||||
Intangible assets impairment charge | 5,200,000 | 5,200,000 | |||||||
Capitalized internal use software impairment charge | 900,000 | 900,000 | |||||||
Loss on impairment due to reversal of contingent consideration liability | $ 400,000 | 400,000 | |||||||
Contingent consideration liability, fair value | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | |||
Total Revenue [Member] | |||||||||
Significant Accounting Policies [Line Items] | |||||||||
Number of customers accounted | Customer | 1 | 2 | 2 | ||||||
Credit Concentration Risk [Member] | Accounts Receivable [Member] | |||||||||
Significant Accounting Policies [Line Items] | |||||||||
Number of customers accounted | Customer | 2 | 1 | |||||||
Concentration risk percentage | 10.00% | 10.00% | |||||||
Customer Concentration Risk [Member] | Total Revenue [Member] | |||||||||
Significant Accounting Policies [Line Items] | |||||||||
Concentration risk percentage | 10.00% | 10.00% | 10.00% | ||||||
Minimum [Member] | |||||||||
Significant Accounting Policies [Line Items] | |||||||||
Support agreements | 12 months | ||||||||
Maximum [Member] | |||||||||
Significant Accounting Policies [Line Items] | |||||||||
Support agreements | 36 months |
Summary of Significant Accoun39
Summary of Significant Accounting Policies - Schedule of Intangible Assets (Detail) | 12 Months Ended |
Jan. 31, 2017 | |
Finite Lived And Indefinite Lived Intangible Assets [Line Items] | |
Identified intangible assets, Useful life | 2 years 4 months 24 days |
Customer Contracts [Member] | |
Finite Lived And Indefinite Lived Intangible Assets [Line Items] | |
Identified intangible assets, Useful life | 2 years 4 months 24 days |
Non-Compete Agreements [Member] | |
Finite Lived And Indefinite Lived Intangible Assets [Line Items] | |
Identified intangible assets, Useful life | 1 year 3 months 18 days |
Completed Technology [Member] | |
Finite Lived And Indefinite Lived Intangible Assets [Line Items] | |
Identified intangible assets, Useful life | 2 years 4 months 24 days |
Minimum [Member] | Customer Contracts [Member] | |
Finite Lived And Indefinite Lived Intangible Assets [Line Items] | |
Identified intangible assets, Useful life | 1 year |
Minimum [Member] | Non-Compete Agreements [Member] | |
Finite Lived And Indefinite Lived Intangible Assets [Line Items] | |
Identified intangible assets, Useful life | 2 years |
Minimum [Member] | Completed Technology [Member] | |
Finite Lived And Indefinite Lived Intangible Assets [Line Items] | |
Identified intangible assets, Useful life | 4 years |
Minimum [Member] | Trademarks, Patents and Other [Member] | |
Finite Lived And Indefinite Lived Intangible Assets [Line Items] | |
Identified intangible assets, Useful life | 5 years |
Maximum [Member] | Customer Contracts [Member] | |
Finite Lived And Indefinite Lived Intangible Assets [Line Items] | |
Identified intangible assets, Useful life | 8 years |
Maximum [Member] | Non-Compete Agreements [Member] | |
Finite Lived And Indefinite Lived Intangible Assets [Line Items] | |
Identified intangible assets, Useful life | 3 years |
Maximum [Member] | Completed Technology [Member] | |
Finite Lived And Indefinite Lived Intangible Assets [Line Items] | |
Identified intangible assets, Useful life | 6 years |
Maximum [Member] | Trademarks, Patents and Other [Member] | |
Finite Lived And Indefinite Lived Intangible Assets [Line Items] | |
Identified intangible assets, Useful life | 7 years |
Fair Value Measurements - Addit
Fair Value Measurements - Additional Information (Detail) - USD ($) | Jan. 31, 2016 | Jan. 31, 2017 | Jan. 31, 2017 | Jan. 31, 2016 | Jan. 31, 2017 | Jan. 31, 2016 | Jan. 31, 2015 | Feb. 28, 2015 |
Fair Value Measurements Disclosure [Line Items] | ||||||||
Fair value measurements of our financial assets and liabilities | $ 15,922,000 | $ 12,970,000 | $ 12,970,000 | $ 15,922,000 | $ 12,970,000 | $ 15,922,000 | ||
Goodwill impairment charge | 23,492,000 | |||||||
Loss on impairment of long-lived assets held for sale | 300,000 | |||||||
Loss on impairment | 500,000 | 23,500,000 | 21,500,000 | $ 23,772,000 | 21,464,000 | |||
Contingent consideration liability, fair value | 0 | 0 | 0 | $ 3,200,000 | ||||
Maximum maturity of marketable securities | Three months or less | |||||||
Other than temporary declines in investments | $ 0 | 0 | $ 0 | |||||
Cash equivalents and marketable securities | 71,100,000 | 38,700,000 | 38,700,000 | 71,100,000 | 38,700,000 | 71,100,000 | ||
Restricted cash related to performance obligations | 82,000 | 109,000 | 109,000 | 82,000 | 109,000 | 82,000 | ||
Timeline Labs [Member] | ||||||||
Fair Value Measurements Disclosure [Line Items] | ||||||||
Goodwill impairment charge | 15,800,000 | 15,800,000 | ||||||
Loss on impairment | 21,900,000 | 21,900,000 | ||||||
Intangible assets impairment charge | 5,200,000 | 5,200,000 | ||||||
Capitalized internal use software impairment charge | 900,000 | 900,000 | ||||||
Loss on impairment due to reversal of contingent consideration liability | 400,000 | 400,000 | ||||||
Contingent consideration liability, fair value | 0 | 0 | 0 | 0 | 0 | 0 | ||
Fair Value, Inputs, Level 3 [Member] | ||||||||
Fair Value Measurements Disclosure [Line Items] | ||||||||
Fair value measurements of our financial assets and liabilities | 0 | 0 | 0 | 0 | 0 | 0 | ||
Cash Related to Performance Obligations [Member] | ||||||||
Fair Value Measurements Disclosure [Line Items] | ||||||||
Restricted cash related to performance obligations | $ 100,000 | $ 100,000 | $ 100,000 | $ 100,000 | $ 100,000 | $ 100,000 |
Fair Value Measurements - Fair
Fair Value Measurements - Fair Value of Financial Assets and Liabilities Measured on Recurring Basis (Detail) - USD ($) $ in Thousands | Jan. 31, 2017 | Jan. 31, 2016 |
Available-for-sale marketable securities: | ||
Marketable securities, short-term | $ 5,253 | $ 1,504 |
Non-current marketable securities: | ||
Marketable securities, long-term | 4,991 | 10,764 |
Total | 12,970 | 15,922 |
U.S. Treasury Notes and Bonds Conventional [Member] | ||
Available-for-sale marketable securities: | ||
Marketable securities, short-term | 4,253 | 502 |
Non-current marketable securities: | ||
Marketable securities, long-term | 1,997 | 7,762 |
U.S. Government Agency Issues Short Term [Member] | ||
Available-for-sale marketable securities: | ||
Marketable securities, short-term | 1,000 | 1,002 |
U.S. Government Agency Issues Long Term [Member] | ||
Non-current marketable securities: | ||
Marketable securities, long-term | 2,994 | 3,002 |
Money Market Accounts [Member] | ||
Financial assets: | ||
Cash and cash equivalents | 2,726 | 3,654 |
Fair Value, Inputs, Level 1 [Member] | ||
Non-current marketable securities: | ||
Total | 8,976 | 11,918 |
Fair Value, Inputs, Level 1 [Member] | U.S. Treasury Notes and Bonds Conventional [Member] | ||
Available-for-sale marketable securities: | ||
Marketable securities, short-term | 4,253 | 502 |
Non-current marketable securities: | ||
Marketable securities, long-term | 1,997 | 7,762 |
Fair Value, Inputs, Level 1 [Member] | Money Market Accounts [Member] | ||
Financial assets: | ||
Cash and cash equivalents | 2,726 | 3,654 |
Fair Value, Inputs, Level 2 [Member] | ||
Non-current marketable securities: | ||
Total | 3,994 | 4,004 |
Fair Value, Inputs, Level 2 [Member] | U.S. Government Agency Issues Short Term [Member] | ||
Available-for-sale marketable securities: | ||
Marketable securities, short-term | 1,000 | 1,002 |
Fair Value, Inputs, Level 2 [Member] | U.S. Government Agency Issues Long Term [Member] | ||
Non-current marketable securities: | ||
Marketable securities, long-term | $ 2,994 | $ 3,002 |
Fair Value Measurements - Summa
Fair Value Measurements - Summary of Available-for-Sale Securities (Detail) - USD ($) $ in Thousands | Jan. 31, 2017 | Jan. 31, 2016 |
Schedule of Available-for-Sale Securities [Line Items] | ||
Amortized Cost | $ 38,540 | $ 70,970 |
Gross Unrealized Gains | 14 | 32 |
Gross Unrealized Losses | (8) | (1) |
Estimated Fair Value | 38,546 | 71,001 |
Cash [Member] | ||
Schedule of Available-for-Sale Securities [Line Items] | ||
Amortized Cost | 25,576 | 55,079 |
Estimated Fair Value | 25,576 | 55,079 |
Cash Equivalents [Member] | ||
Schedule of Available-for-Sale Securities [Line Items] | ||
Amortized Cost | 2,726 | 3,654 |
Estimated Fair Value | 2,726 | 3,654 |
Cash and Cash Equivalents [Member] | ||
Schedule of Available-for-Sale Securities [Line Items] | ||
Amortized Cost | 28,302 | 58,733 |
Estimated Fair Value | 28,302 | 58,733 |
U.S. Treasury Notes and Bonds - Short Term [Member] | ||
Schedule of Available-for-Sale Securities [Line Items] | ||
Amortized Cost | 4,248 | 503 |
Gross Unrealized Gains | 5 | |
Gross Unrealized Losses | (1) | |
Estimated Fair Value | 4,253 | 502 |
U.S. Treasury Notes and Bonds - Long Term [Member] | ||
Schedule of Available-for-Sale Securities [Line Items] | ||
Amortized Cost | 2,003 | 7,756 |
Gross Unrealized Gains | 6 | |
Gross Unrealized Losses | (6) | |
Estimated Fair Value | 1,997 | 7,762 |
U.S. Government Agency Issues Short Term [Member] | ||
Schedule of Available-for-Sale Securities [Line Items] | ||
Amortized Cost | 991 | 1,001 |
Gross Unrealized Gains | 9 | 1 |
Estimated Fair Value | 1,000 | 1,002 |
U.S. Government Agency Issues Long Term [Member] | ||
Schedule of Available-for-Sale Securities [Line Items] | ||
Amortized Cost | 2,996 | 2,977 |
Gross Unrealized Gains | 25 | |
Gross Unrealized Losses | (2) | |
Estimated Fair Value | $ 2,994 | $ 3,002 |
Fair Value Measurements - Sched
Fair Value Measurements - Schedule of Contractual Maturities Available-for-Sale Debt Securities (Detail) $ in Thousands | Jan. 31, 2017USD ($) |
Fair Value Disclosures [Abstract] | |
Maturity of one year or less | $ 5,253 |
Maturity between one and five years | 4,991 |
Total | $ 10,244 |
Acquisitions and Loss on Impa44
Acquisitions and Loss on Impairment of TLL, LLC - Additional Information (Detail) - USD ($) | Aug. 01, 2016 | May 05, 2016 | Feb. 02, 2016 | Jan. 31, 2016 | Aug. 03, 2015 | Feb. 02, 2015 | Jan. 31, 2017 | May 31, 2016 | Feb. 29, 2016 | Jan. 31, 2017 | Jul. 31, 2016 | Jan. 31, 2016 | Jan. 31, 2017 | Jan. 31, 2017 | Jan. 31, 2016 | Jan. 31, 2015 | Feb. 28, 2015 |
Business Acquisition [Line Items] | |||||||||||||||||
Payments to acquire business | $ 5,243,000 | $ 11,686,000 | |||||||||||||||
Acquisition, goodwill identified | 7,255,000 | ||||||||||||||||
Revenue | 83,795,000 | 106,992,000 | $ 115,435,000 | ||||||||||||||
Operating loss | (54,146,000) | (48,199,000) | (26,453,000) | ||||||||||||||
Loss on impairment | $ 500,000 | $ 23,500,000 | $ 21,500,000 | 23,772,000 | 21,464,000 | ||||||||||||
Contingent consideration liability, fair value | $ 0 | 0 | 0 | $ 3,200,000 | |||||||||||||
Severance and restructuring charges | 7,151,000 | 1,061,000 | $ 3,623,000 | ||||||||||||||
Timeline Labs [Member] | |||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||
Percentage of equity interest acquired | 100.00% | ||||||||||||||||
Net purchase price of acquired business | $ 22,639,000 | ||||||||||||||||
Payments to acquire business | 14,186,000 | ||||||||||||||||
Acquisition, goodwill identified | 15,800,000 | ||||||||||||||||
Loss on impairment | 21,900,000 | 21,900,000 | |||||||||||||||
Business acquisition related costs | 100,000 | ||||||||||||||||
Indemnification assets | $ 1,400,000 | ||||||||||||||||
Business acquisition, number of common stock issued | 542,274 | 260,537 | 344,055 | 70,473 | |||||||||||||
Common stock deposited into escrow | 173,265 | ||||||||||||||||
Business acquisition, value of common stock issued | $ 3,200,000 | $ 1,800,000 | $ 4,959,000 | $ 200,000 | |||||||||||||
Contingent consideration liability, fair value | $ 0 | $ 0 | 0 | $ 0 | $ 0 | 0 | 0 | ||||||||||
Loss on impairment due to reversal of contingent consideration liability | 400,000 | $ 400,000 | |||||||||||||||
Severance and restructuring charges | $ 700,000 | 700,000 | |||||||||||||||
DCC Labs [Member] | |||||||||||||||||
Business Acquisition [Line Items] | |||||||||||||||||
Percentage of equity interest acquired | 100.00% | ||||||||||||||||
Payments to acquire business, paid in shares | $ 2,700,000 | ||||||||||||||||
Cash held in escrow | 500,000 | ||||||||||||||||
Net purchase price of acquired business | 7,883,000 | ||||||||||||||||
Payments to acquire business | 5,243,000 | ||||||||||||||||
Acquisition, goodwill identified | $ 7,300,000 | ||||||||||||||||
Net increase in goodwill | $ 1,900,000 | ||||||||||||||||
Revenue | 700,000 | ||||||||||||||||
Operating loss | $ 4,700,000 | ||||||||||||||||
Business acquisition date | May 5, 2016 | ||||||||||||||||
Loss on impairment | $ 23,500,000 | $ 3,400,000 | |||||||||||||||
Business acquisition related costs | $ 200,000 | ||||||||||||||||
Severance and restructuring charges | $ 1,900,000 |
Acquisitions and Loss on Impa45
Acquisitions and Loss on Impairment of TLL, LLC - Summary of Allocation of Purchase Price (Detail) - USD ($) $ in Thousands | May 05, 2016 | Feb. 02, 2015 | Jan. 31, 2017 | Jan. 31, 2016 | Aug. 01, 2016 | May 31, 2016 | Feb. 02, 2016 | Aug. 03, 2015 |
Estimated Fair value of consideration: | ||||||||
Cash, net of cash acquired | $ 5,243 | $ 11,686 | ||||||
Estimated Fair value of assets acquired and liabilities assumed: | ||||||||
Goodwill | $ 23,287 | $ 40,175 | ||||||
DCC Labs [Member] | ||||||||
Estimated Fair value of consideration: | ||||||||
Cash, net of cash acquired | $ 5,243 | |||||||
Closing stock consideration | 2,640 | |||||||
Total purchase price | 7,883 | |||||||
Estimated Fair value of assets acquired and liabilities assumed: | ||||||||
Current assets | 826 | |||||||
Other long-term assets | 116 | |||||||
Finite-life intangible assets | 810 | |||||||
Goodwill | 7,255 | $ 45,800 | ||||||
Current liabilities | (618) | |||||||
Other long-term liabilities | (506) | |||||||
Allocated purchase price | $ 7,883 | |||||||
Timeline Labs [Member] | ||||||||
Estimated Fair value of consideration: | ||||||||
Cash, net of cash acquired | $ 14,186 | |||||||
Closing stock consideration | 3,019 | |||||||
Deferred stock consideration | 4,959 | $ 200 | $ 3,200 | $ 1,800 | ||||
Contingent consideration | 475 | |||||||
Total purchase price | 22,639 | |||||||
Estimated Fair value of assets acquired and liabilities assumed: | ||||||||
Current assets | 95 | |||||||
Other long-term assets | 108 | |||||||
Finite-life intangible assets | 6,720 | |||||||
Goodwill | 15,787 | |||||||
Current liabilities | (71) | |||||||
Allocated purchase price | $ 22,639 |
Acquisitions and Loss on Impa46
Acquisitions and Loss on Impairment of TLL, LLC - Components of Identified Intangible Assets Associated with Acquisition and their Estimated Useful Lives (Detail) - USD ($) $ in Thousands | May 05, 2016 | Feb. 02, 2015 | Jan. 31, 2017 |
Finite-Lived Intangible Assets [Line Items] | |||
Identified intangible assets, Useful life | 2 years 4 months 24 days | ||
Customer Contracts [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Identified intangible assets, Useful life | 2 years 4 months 24 days | ||
Non-Compete Agreements [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Identified intangible assets, Useful life | 1 year 3 months 18 days | ||
DCC Labs [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Identified intangible assets, Fair Value | $ 810 | ||
DCC Labs [Member] | Tradename [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Identified intangible assets, Useful life | 4 years | ||
Identified intangible assets, Fair Value | $ 60 | ||
DCC Labs [Member] | Customer Contracts [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Identified intangible assets, Useful life | 2 years | ||
Identified intangible assets, Fair Value | $ 230 | ||
DCC Labs [Member] | Non-Compete Agreements [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Identified intangible assets, Useful life | 2 years | ||
Identified intangible assets, Fair Value | $ 30 | ||
DCC Labs [Member] | Existing Technology [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Identified intangible assets, Useful life | 3 years | ||
Identified intangible assets, Fair Value | $ 490 | ||
Timeline Labs [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Identified intangible assets, Fair Value | $ 6,720 | ||
Timeline Labs [Member] | Tradename [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Identified intangible assets, Useful life | 7 years | ||
Identified intangible assets, Fair Value | $ 620 | ||
Timeline Labs [Member] | Customer Contracts [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Identified intangible assets, Useful life | 7 years | ||
Identified intangible assets, Fair Value | $ 4,760 | ||
Timeline Labs [Member] | Non-Compete Agreements [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Identified intangible assets, Useful life | 2 years | ||
Identified intangible assets, Fair Value | $ 170 | ||
Timeline Labs [Member] | Existing Technology [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Identified intangible assets, Useful life | 5 years | ||
Identified intangible assets, Fair Value | $ 1,170 |
Consolidated Balance Sheet De47
Consolidated Balance Sheet Detail - Schedule of Inventories (Detail) - USD ($) $ in Thousands | Jan. 31, 2017 | Jan. 31, 2016 |
Inventory Disclosure [Abstract] | ||
Components and assemblies | $ 500 | $ 1,223 |
Finished products | 270 | 459 |
Total inventories, net | $ 770 | $ 1,682 |
Consolidated Balance Sheet De48
Consolidated Balance Sheet Detail - Property and Equipment, Net (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Jan. 31, 2017 | Jan. 31, 2016 | |
Property, Plant and Equipment [Line Items] | ||
Property, Plant and Equipment, Gross | $ 36,013 | $ 36,771 |
Less - Accumulated depreciation and amortization | (24,528) | (22,642) |
Total property and equipment, net | 11,485 | 14,129 |
Land [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, Plant and Equipment, Gross | $ 2,780 | 2,880 |
Buildings [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Estimated Useful Life (Years) | 20 | |
Property, Plant and Equipment, Gross | $ 11,726 | 11,908 |
Office Furniture and Equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Estimated Useful Life (Years) | 5 | |
Property, Plant and Equipment, Gross | $ 1,091 | 1,099 |
Computer Equipment, Software and Demonstration Equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Estimated Useful Life (Years) | 3 | |
Property, Plant and Equipment, Gross | $ 18,194 | 18,639 |
Service and Spare Components [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Estimated Useful Life (Years) | 5 | |
Property, Plant and Equipment, Gross | $ 1,158 | 1,158 |
Leasehold Improvements [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, Plant and Equipment, Gross | $ 1,064 | $ 1,087 |
Leasehold Improvements [Member] | Minimum [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Estimated Useful Life (Years) | 1 | |
Leasehold Improvements [Member] | Maximum [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Estimated Useful Life (Years) | 7 |
Consolidated Balance Sheet De49
Consolidated Balance Sheet Detail - Additional Information (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 31, 2017 | Jan. 31, 2016 | Jan. 31, 2015 | |
Balance Sheet Related Disclosures [Abstract] | |||
Depreciation and amortization expense | $ 2,953 | $ 3,380 | $ 3,683 |
Consolidated Balance Sheet De50
Consolidated Balance Sheet Detail - Other Accrued Expenses (Detail) - USD ($) $ in Thousands | Jan. 31, 2017 | Jan. 31, 2016 |
Balance Sheet Related Disclosures [Abstract] | ||
Accrued compensation and commissions | $ 1,799 | $ 1,676 |
Accrued bonuses | 1,871 | 2,902 |
Accrued restructuring | 1,023 | |
Employee benefits | 885 | 1,484 |
Accrued provision for contract loss | 168 | 6,497 |
Accrued other | 4,182 | 4,855 |
Total other accrued expenses | $ 9,928 | $ 17,414 |
Consolidated Balance Sheet De51
Consolidated Balance Sheet Detail - Other Accrued Expenses (Parenthetical) (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |
Jan. 31, 2017 | Jan. 31, 2017 | Jan. 31, 2016 | |
Balance Sheet Related Disclosures [Abstract] | |||
Provision for loss contract | $ 4,100 | $ (4,118) | $ 9,162 |
Goodwill and Intangible Asset52
Goodwill and Intangible Assets - Additional Information (Detail) - USD ($) | Aug. 01, 2016 | Jan. 31, 2017 | Jan. 31, 2017 | Jan. 31, 2016 | Jan. 31, 2017 | Jan. 31, 2017 | Jan. 31, 2016 | Jan. 31, 2015 | Jul. 31, 2016 | May 05, 2016 |
Goodwill And Intangible Assets [Line Items] | ||||||||||
Goodwill | $ 23,287,000 | $ 23,287,000 | $ 40,175,000 | $ 23,287,000 | $ 23,287,000 | $ 40,175,000 | ||||
Loss on impairment of long-lived assets | $ 500,000 | $ 23,500,000 | $ 21,500,000 | 23,772,000 | 21,464,000 | |||||
Amortization of intangible assets | $ 3,300,000 | $ 4,800,000 | $ 5,200,000 | |||||||
DCC Labs [Member] | ||||||||||
Goodwill And Intangible Assets [Line Items] | ||||||||||
Goodwill | $ 45,800,000 | $ 7,255,000 | ||||||||
Fair value of reporting unit less than carrying value | 102,500,000 | |||||||||
Estimated implied fair value | 22,300,000 | |||||||||
Loss on impairment of long-lived assets | $ 23,500,000 | $ 3,400,000 | ||||||||
DCC Labs [Member] | Minimum [Member] | ||||||||||
Goodwill And Intangible Assets [Line Items] | ||||||||||
Excess fair value amount over and above the carrying value of the net assets | $ 15,400,000 | |||||||||
Excess fair value percentage over and above the carrying value of the net assets | 15.00% | |||||||||
DCC Labs [Member] | Maximum [Member] | ||||||||||
Goodwill And Intangible Assets [Line Items] | ||||||||||
Excess fair value amount over and above the carrying value of the net assets | $ 25,000,000 | |||||||||
Excess fair value percentage over and above the carrying value of the net assets | 24.40% |
Goodwill and Intangible Asset53
Goodwill and Intangible Assets - Schedule of Change in Carrying Amount of Goodwill (Detail) $ in Thousands | 12 Months Ended |
Jan. 31, 2017USD ($) | |
Goodwill [Roll Forward] | |
Goodwill, gross | $ 55,962 |
Accumulated impairment losses | (15,787) |
Goodwill, net | 40,175 |
Acquisition of DCC Labs | 7,255 |
Goodwill impairment charge | (23,492) |
Cumulative translation adjustment | (651) |
Goodwill, gross | 61,707 |
Accumulated impairment losses | (39,279) |
Goodwill, net | $ 23,287 |
Goodwill and Intangible Asset54
Goodwill and Intangible Assets - Schedule of Intangible Assets (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Jan. 31, 2017 | Jan. 31, 2016 | |
Finite-Lived Intangible Assets [Line Items] | ||
Weighted average remaining life (Years) | 2 years 4 months 24 days | |
Finite-life intangible assets, Gross | $ 50,051 | $ 49,464 |
Accumulated Amortization | (47,448) | (45,338) |
Finite-life intangible assets, Net | $ 2,603 | 4,126 |
Customer Contracts [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Weighted average remaining life (Years) | 2 years 4 months 24 days | |
Finite-life intangible assets, Gross | $ 30,056 | 29,956 |
Accumulated Amortization | (28,019) | (26,284) |
Finite-life intangible assets, Net | $ 2,037 | 3,672 |
Non-Compete Agreements [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Weighted average remaining life (Years) | 1 year 3 months 18 days | |
Finite-life intangible assets, Gross | $ 2,374 | 2,365 |
Accumulated Amortization | (2,356) | (2,365) |
Finite-life intangible assets, Net | $ 18 | |
Completed Technology [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Weighted average remaining life (Years) | 2 years 4 months 24 days | |
Finite-life intangible assets, Gross | $ 10,496 | 10,075 |
Accumulated Amortization | (9,997) | (9,621) |
Finite-life intangible assets, Net | $ 499 | 454 |
Trademarks, Patents and Other [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Weighted average remaining life (Years) | 3 years 3 months 18 days | |
Finite-life intangible assets, Gross | $ 7,125 | 7,068 |
Accumulated Amortization | (7,076) | $ (7,068) |
Finite-life intangible assets, Net | $ 49 |
Goodwill and Intangible Asset55
Goodwill and Intangible Assets - Schedule of Finite-Life Intangible Assets, Future Amortization Expense (Detail) - USD ($) $ in Thousands | Jan. 31, 2017 | Jan. 31, 2016 |
Goodwill and Intangible Assets Disclosure [Abstract] | ||
2,018 | $ 1,412 | |
2,019 | 931 | |
2,020 | 257 | |
2,021 | 3 | |
2,022 | 0 | |
2023 and thereafter | 0 | |
Finite-life intangible assets, Net | $ 2,603 | $ 4,126 |
Severance and Other Restructu56
Severance and Other Restructuring Costs - Additional Information (Detail) $ in Thousands | Jul. 06, 2016USD ($)Installments | Apr. 06, 2016USD ($)Installments | Feb. 29, 2016USD ($) | Jul. 31, 2016USD ($) | Jan. 31, 2017USD ($)Employee | Jan. 31, 2016USD ($) | Jan. 31, 2015USD ($) |
Restructuring Cost and Reserve [Line Items] | |||||||
Restructuring charges | $ 7,151 | $ 1,061 | $ 3,623 | ||||
Fiscal 2017 Restructuring Plan [Member] | |||||||
Restructuring Cost and Reserve [Line Items] | |||||||
Restructuring charges | 5,100 | ||||||
Severance costs | $ 3,100 | ||||||
Former Employees [Member] | |||||||
Restructuring Cost and Reserve [Line Items] | |||||||
Number of employees terminated | Employee | 13 | ||||||
Former Chief Executive Officer and Chief Financial Officer [Member] | |||||||
Restructuring Cost and Reserve [Line Items] | |||||||
Severance costs | $ 1,500 | ||||||
CEO [Member] | CEO Separation Agreement [Member] | |||||||
Restructuring Cost and Reserve [Line Items] | |||||||
Employee separation related liabilities including bonus payable | $ 200 | $ 1,000 | |||||
Bonus payable | 200 | ||||||
Employee separation liability payable | $ 800 | ||||||
Number of equal monthly installments | Installments | 12 | ||||||
Number of equal semimonthly installments | Installments | 12 | ||||||
DCC Labs [Member] | |||||||
Restructuring Cost and Reserve [Line Items] | |||||||
Restructuring charges | $ 1,900 | ||||||
Timeline Labs [Member] | |||||||
Restructuring Cost and Reserve [Line Items] | |||||||
Restructuring charges | $ 700 | 700 | |||||
Timeline Labs [Member] | CALIFORNIA | |||||||
Restructuring Cost and Reserve [Line Items] | |||||||
Other restructuring charges, (relating to remaining lease obligation) | 300 | ||||||
Timeline Labs [Member] | Former Employees [Member] | |||||||
Restructuring Cost and Reserve [Line Items] | |||||||
Severance costs | $ 400 |
Severance and Other Restructu57
Severance and Other Restructuring Costs - Change in Severance Liability (Detail) $ in Thousands | 12 Months Ended |
Jan. 31, 2017USD ($) | |
Restructuring Cost and Reserve [Line Items] | |
Accrual balance at the beginning of the period | $ 0 |
Restructuring charges incurred | 5,655 |
Cash payments | (4,615) |
Other charges | (17) |
Accrual balance at the ending of the period | 1,023 |
Employee-Related Benefits [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Accrual balance at the beginning of the period | 0 |
Restructuring charges incurred | 4,543 |
Cash payments | (3,741) |
Other charges | (17) |
Accrual balance at the ending of the period | 785 |
Closure of Leased Facilities [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Accrual balance at the beginning of the period | 0 |
Restructuring charges incurred | 509 |
Cash payments | (379) |
Accrual balance at the ending of the period | 130 |
Other Restructuring [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Accrual balance at the beginning of the period | 0 |
Restructuring charges incurred | 603 |
Cash payments | (495) |
Accrual balance at the ending of the period | $ 108 |
Commitments and Contingencies -
Commitments and Contingencies - Additional Information (Detail) - USD ($) | 12 Months Ended | ||
Jan. 31, 2017 | Jan. 31, 2016 | Jan. 31, 2015 | |
Contingencies And Commitments [Line Items] | |||
Operating leases, rent expense | $ 2,400,000 | $ 2,700,000 | $ 2,900,000 |
Operating lease expiration year | 2,023 | ||
Demand Debt Instrument [Member] | |||
Contingencies And Commitments [Line Items] | |||
Demand notes payable | $ 20,000,000 | ||
Line of credit expiration date | Aug. 31, 2016 | ||
Demand notes payable, amount outstanding | $ 0 |
Commitments and Contingencies59
Commitments and Contingencies - Schedule of Future Minimum Rental Payment (Detail) $ in Thousands | Jan. 31, 2017USD ($) |
Commitments and Contingencies Disclosure [Abstract] | |
2,018 | $ 1,826 |
2,019 | 1,604 |
2,020 | 1,234 |
2,021 | 747 |
2,022 | 461 |
2023 and thereafter | 116 |
Minimum operating lease payments | $ 5,988 |
Stockholders' Equity - Addition
Stockholders' Equity - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Millions | Apr. 06, 2016 | Jun. 30, 2016 | Jul. 31, 2015 | Jan. 31, 2017 | Jan. 31, 2016 | Jan. 31, 2015 | Jul. 31, 2011 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Preferred stock, shares authorized | 5,000,000 | ||||||
Preferred stock, shares issued | 0 | ||||||
Expected dividend yield | 0.00% | 0.00% | 0.00% | ||||
Employee service share-based compensation, nonvested awards, total compensation cost not yet recognized | $ 1.4 | ||||||
Market based options granted | 1,581,614 | 612,678 | 500,000 | ||||
Share-based compensation arrangement by share-based payment award, options, grants in period, weighted average grant date fair value | $ 3.09 | $ 2.75 | $ 3.39 | ||||
Share based compensation arrangement by share based payment award estimated weighted average amortization period | 2 years | ||||||
Aggregate intrinsic value for options outstanding | $ 0 | $ 0.1 | $ 0.1 | ||||
Aggregate intrinsic value of vested shares and share options expected to vest | $ 0 | 0.1 | $ 0.1 | ||||
Employee service share-based compensation, cash received from exercise of stock options | $ 0.2 | ||||||
Stock options exercised | 0 | 28,740 | 0 | ||||
Officer [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Share-based compensation arrangement by share-based payment award, options, vested in period, fair value | $ 2.1 | ||||||
Share-based compensation arrangement by share-based payment award, options, vested in period | 2 years 3 months 18 days | ||||||
Employee service share-based compensation, nonvested awards, total compensation cost not yet recognized | $ 0.9 | ||||||
CEO [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Market based options granted | 600,000 | 800,000 | |||||
Chief Operating Officer [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Market based options granted | 200,000 | ||||||
Restricted Stock Units and Deferred Stock Units [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Employee service share-based compensation, nonvested awards, total compensation cost not yet recognized | $ 3 | ||||||
Share based compensation arrangement by share based payment award estimated weighted average amortization period | 1 year 3 months 18 days | ||||||
Performance Stock Units (PSUs) [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Number of stock units granted | 307,963 | 301,192 | |||||
Fair value of stock units granted | $ 2.9 | ||||||
Fair value of stock units granted, remaining contractual term | 3 years | ||||||
Performance Stock Units (PSUs) [Member] | Maximum [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Percentage of common stock expected to be issued | 150.00% | 150.00% | |||||
Performance Stock Units (PSUs) [Member] | Minimum [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Percentage of common stock expected to be issued | 0.00% | 0.00% | |||||
2015 Employee Stock Purchase Plan [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Share-based compensation arrangement by share-based payment award, Description | On each purchase date, eligible employees will purchase our stock at a price per share equal to 85% of the closing price of our common stock on the exercise date, but no less than par value. | ||||||
Minimum payroll deductions at base compensation under employee stock purchase plan | 1.00% | ||||||
Maximum payroll deductions at base compensation under employee stock purchase plan | 15.00% | ||||||
Offering period commence date | Oct. 1, 2015 | ||||||
Percentage of stock to be purchased under the plan | 85.00% | ||||||
2015 Employee Stock Purchase Plan [Member] | Maximum [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Share-based compensation arrangement by share-based payment award, number of shares authorized | 1,150,000 | ||||||
Compensation and Incentive Plan 2011 [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Share-based compensation arrangement by share-based payment award, number of shares authorized | 5,300,000 | ||||||
Share-based compensation arrangement by share-based payment award, Description | Option awards may be granted to employees at an exercise price per share of not less than 100% of the fair market value per common share on the date of the grant. | ||||||
Share-based compensation arrangement by share based payment award, Option award expiration period | 10 years | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Purchase Price of Common Stock, Percent | 100.00% | ||||||
Compensation and Incentive Plan 2011 [Member] | Maximum [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Share-based compensation arrangement by Share-based payment award, Option award vesting period | 4 years | ||||||
Compensation and Incentive Plan 2011 [Member] | Minimum [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Share-based compensation arrangement by Share-based payment award, Option award vesting period | 1 year | ||||||
Compensation and Incentive Plan 2011 [Member] | Stock Compensation Plan [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Share-based compensation arrangement by share-based payment award, number of shares available for grant | 393,403 | ||||||
Long Term Incentive Program [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Share-based compensation arrangement by Share-based payment award, Option award vesting period | 3 years |
Stockholders' Equity - Effect o
Stockholders' Equity - Effect of Recording Stock-Based Compensation (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 31, 2017 | Jan. 31, 2016 | Jan. 31, 2015 | |
Stock-based compensation expense by type of award: | |||
Stock options | $ 873 | $ 1,257 | $ 1,036 |
Restricted stock units | 624 | 1,203 | 1,607 |
Deferred stock units | 709 | 607 | 500 |
Performance-based restricted stock units | 398 | 475 | 77 |
Employee stock purchase plan | 17 | 10 | |
Total stock-based compensation | $ 2,621 | $ 3,552 | $ 3,220 |
Stockholders' Equity - Fair Val
Stockholders' Equity - Fair Value of Stock Options Granted (Detail) | 12 Months Ended | ||
Jan. 31, 2017 | Jan. 31, 2016 | Jan. 31, 2015 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Expected volatility (range), Minimum | 40.00% | 40.00% | 46.00% |
Expected volatility (range), Maximum | 45.00% | 45.00% | |
Weighted average volatility | 42.00% | 42.00% | 46.00% |
Weighted average interest rate | 1.10% | 1.60% | 1.70% |
Expected dividend yield | 0.00% | 0.00% | 0.00% |
Minimum [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Expected term (in years) | 6 years | 6 years | 6 years 6 months |
Risk-free interest rate | 1.00% | 1.50% | 1.70% |
Maximum [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Expected term (in years) | 7 years | 7 years | |
Risk-free interest rate | 2.00% | 2.00% |
Stockholders' Equity - Stock Op
Stockholders' Equity - Stock Option Activity (Detail) - $ / shares | 12 Months Ended | ||
Jan. 31, 2017 | Jan. 31, 2016 | Jan. 31, 2015 | |
Equity [Abstract] | |||
Shares, Outstanding at beginning of period | 1,192,677 | 1,626,421 | 1,502,176 |
Shares, Granted | 1,581,614 | 612,678 | 500,000 |
Shares, Exercised | 0 | (28,740) | 0 |
Shares, Forfeited/expired/cancelled | (632,724) | (1,017,682) | (375,755) |
Shares, Outstanding at end of period | 2,141,567 | 1,192,677 | 1,626,421 |
Shares, Options exercisable at end of period | 203,982 | 80,000 | 1,108,115 |
Weighted average exercise price, Outstanding at beginning of period | $ 6.80 | $ 7.77 | $ 9.77 |
Weighted average exercise price, Granted | 4.02 | 6.44 | 7.23 |
Weighted average exercise price, Exercised | 6.74 | ||
Weighted average exercise price, Forfeited/expired/cancelled | 6.98 | 8.13 | 15.06 |
Weighted average exercise price, Outstanding at end of period | 4.70 | 6.80 | 7.77 |
Weighted average exercise price, Options exercisable at end of period | $ 6.28 | $ 6.83 | $ 8.02 |
Weighted average exercise price, Weighted average remaining contractual term (in years) | 8 years 4 days | 8 years 1 month 6 days | 4 years 8 months 19 days |
Stockholders' Equity - Summary
Stockholders' Equity - Summary of Information about Stock Options Outstanding and Exercisable (Detail) | Jan. 31, 2017$ / sharesshares |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Options Outstanding, Number outstanding | shares | 2,141,567 |
Options Outstanding, Weighted average remaining contractual terms (years) | 8 years 4 days |
Options Outstanding, Weighted average exercise price | $ 4.70 |
Options Exercisable, Number Exercisable | shares | 203,982 |
Options Exercisable, Weighted average exercise price | $ 6.28 |
Exercise Price Range One [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Options Outstanding, Range of exercise prices, Lower Range Limit | 2.42 |
Options Outstanding, Range of exercise prices, Upper Range Limit | $ 2.42 |
Options Outstanding, Number outstanding | shares | 425,546 |
Options Outstanding, Weighted average remaining contractual terms (years) | 9 years 6 months |
Options Outstanding, Weighted average exercise price | $ 2.42 |
Exercise Price Range Two [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Options Outstanding, Range of exercise prices, Lower Range Limit | 2.64 |
Options Outstanding, Range of exercise prices, Upper Range Limit | $ 2.89 |
Options Outstanding, Number outstanding | shares | 135,000 |
Options Outstanding, Weighted average remaining contractual terms (years) | 9 years 8 months 5 days |
Options Outstanding, Weighted average exercise price | $ 2.73 |
Exercise Price Range Three [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Options Outstanding, Range of exercise prices, Lower Range Limit | 3.30 |
Options Outstanding, Range of exercise prices, Upper Range Limit | $ 3.41 |
Options Outstanding, Number outstanding | shares | 150,000 |
Options Outstanding, Weighted average remaining contractual terms (years) | 9 years 4 months 17 days |
Options Outstanding, Weighted average exercise price | $ 3.34 |
Exercise Price Range Four [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Options Outstanding, Range of exercise prices, Lower Range Limit | 3.50 |
Options Outstanding, Range of exercise prices, Upper Range Limit | $ 3.50 |
Options Outstanding, Number outstanding | shares | 100,000 |
Options Outstanding, Weighted average remaining contractual terms (years) | 9 years 3 months 4 days |
Options Outstanding, Weighted average exercise price | $ 3.50 |
Exercise Price Range Five [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Options Outstanding, Range of exercise prices, Lower Range Limit | 3.77 |
Options Outstanding, Range of exercise prices, Upper Range Limit | $ 3.77 |
Options Outstanding, Number outstanding | shares | 21,068 |
Options Outstanding, Weighted average remaining contractual terms (years) | 2 years 3 months |
Options Outstanding, Weighted average exercise price | $ 3.77 |
Options Exercisable, Number Exercisable | shares | 7,023 |
Options Exercisable, Weighted average exercise price | $ 3.77 |
Exercise Price Range Six [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Options Outstanding, Range of exercise prices, Lower Range Limit | 3.83 |
Options Outstanding, Range of exercise prices, Upper Range Limit | $ 3.83 |
Options Outstanding, Number outstanding | shares | 75,000 |
Options Outstanding, Weighted average remaining contractual terms (years) | 9 years 2 months 16 days |
Options Outstanding, Weighted average exercise price | $ 3.83 |
Exercise Price Range Seven [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Options Outstanding, Range of exercise prices, Lower Range Limit | 5.50 |
Options Outstanding, Range of exercise prices, Upper Range Limit | $ 5.50 |
Options Outstanding, Number outstanding | shares | 75,000 |
Options Outstanding, Weighted average remaining contractual terms (years) | 3 months 22 days |
Options Outstanding, Weighted average exercise price | $ 5.50 |
Exercise Price Range Eight [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Options Outstanding, Range of exercise prices, Lower Range Limit | 5.56 |
Options Outstanding, Range of exercise prices, Upper Range Limit | $ 7.25 |
Options Outstanding, Number outstanding | shares | 800,000 |
Options Outstanding, Weighted average remaining contractual terms (years) | 8 years 11 months 19 days |
Options Outstanding, Weighted average exercise price | $ 5.98 |
Exercise Price Range Nine [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Options Outstanding, Range of exercise prices, Lower Range Limit | 6.05 |
Options Outstanding, Range of exercise prices, Upper Range Limit | $ 6.05 |
Options Outstanding, Number outstanding | shares | 279,953 |
Options Outstanding, Weighted average remaining contractual terms (years) | 4 years 11 months 9 days |
Options Outstanding, Weighted average exercise price | $ 6.05 |
Options Exercisable, Number Exercisable | shares | 116,959 |
Options Exercisable, Weighted average exercise price | $ 6.05 |
Exercise Price Range Ten [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Options Outstanding, Range of exercise prices, Lower Range Limit | 6.74 |
Options Outstanding, Range of exercise prices, Upper Range Limit | $ 6.74 |
Options Outstanding, Number outstanding | shares | 75,000 |
Options Outstanding, Weighted average remaining contractual terms (years) | 1 year 11 months 16 days |
Options Outstanding, Weighted average exercise price | $ 6.74 |
Options Exercisable, Number Exercisable | shares | 75,000 |
Options Exercisable, Weighted average exercise price | $ 6.74 |
Exercise Price Range Eleven [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Options Outstanding, Range of exercise prices, Lower Range Limit | 8.15 |
Options Outstanding, Range of exercise prices, Upper Range Limit | $ 8.15 |
Options Outstanding, Number outstanding | shares | 5,000 |
Options Outstanding, Weighted average remaining contractual terms (years) | 2 years 5 months 1 day |
Options Outstanding, Weighted average exercise price | $ 8.15 |
Options Exercisable, Number Exercisable | shares | 5,000 |
Options Exercisable, Weighted average exercise price | $ 8.15 |
Stockholders' Equity - Summar65
Stockholders' Equity - Summary of Stock Unit Activity (Detail) - Restricted Stock Units Deferred Stock Units and Performance Stock Units [Member] - $ / shares | 12 Months Ended | ||
Jan. 31, 2017 | Jan. 31, 2016 | Jan. 31, 2015 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Unvested Shares at beginning of period | 1,053,045 | 435,306 | 446,468 |
Awarded Shares | 837,927 | 904,344 | 314,057 |
Vested Shares | (208,474) | (277,373) | (287,485) |
Forfeited/expired/cancelled Shares | (229,440) | (9,232) | (37,734) |
Unvested Shares at end of period | 1,453,058 | 1,053,045 | 435,306 |
Unvested Weighted average grant date fair value at beginning of period | $ 7.34 | $ 8.91 | $ 9.81 |
Awarded Weighted average grant date fair value | 3.07 | 6.46 | 8.60 |
Vested Weighted average grant date fair value | 3.46 | 6.89 | 9.83 |
Forfeited/expired/cancelled Weighted average grant date fair value | 6.68 | 8.42 | 10.01 |
Unvested Weighted average grant date fair value at end of period | $ 5.54 | $ 7.34 | $ 8.91 |
Accumulated Other Comprehensi66
Accumulated Other Comprehensive Loss - Schedule of Accumulated Other Comprehensive Loss (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Jan. 31, 2017 | Jan. 31, 2016 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Beginning balance | $ (6,613) | $ (5,754) |
Other comprehensive income (loss) | 1,242 | (859) |
Ending balance | (5,371) | (6,613) |
Cumulative Translation Adjustment [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Beginning balance | (6,644) | (5,797) |
Other comprehensive income (loss) | 1,267 | (847) |
Ending balance | (5,377) | (6,644) |
Unrealized Gain/Loss on Investments [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Beginning balance | 31 | 43 |
Other comprehensive income (loss) | (25) | (12) |
Ending balance | $ 6 | $ 31 |
Segment Information, Signific67
Segment Information, Significant Customers and Geographic Information - Additional Information (Detail) | 12 Months Ended |
Jan. 31, 2017Segment | |
Segment Reporting [Abstract] | |
Number of reportable segment | 1 |
Percentage of revenues by significant customers | 10.00% |
Segment Information, Signific68
Segment Information, Significant Customers and Geographic Information - Schedule of Revenue by Major Customers by Reporting Segments (Detail) - Customer Concentration Risk [Member] - Total Revenue [Member] | 12 Months Ended | ||
Jan. 31, 2017 | Jan. 31, 2016 | Jan. 31, 2015 | |
Revenue, Major Customer [Line Items] | |||
% of total revenues | 10.00% | 10.00% | 10.00% |
Customer A [Member] | |||
Revenue, Major Customer [Line Items] | |||
% of total revenues | 30.00% | 28.00% | 17.00% |
Customer B [Member] | |||
Revenue, Major Customer [Line Items] | |||
% of total revenues | 10.00% | 17.00% |
Segment Information, Signific69
Segment Information, Significant Customers and Geographic Information - Schedule of Revenue from External Customers Attributed to Foreign Countries by Geographic Area (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 31, 2017 | Jan. 31, 2016 | Jan. 31, 2015 | |
Segment Reporting Information [Line Items] | |||
Total revenues | $ 83,795 | $ 106,992 | $ 115,435 |
North America [Member] | |||
Segment Reporting Information [Line Items] | |||
Total revenues | 37,570 | 58,113 | 64,755 |
Europe and Middle East [Member] | |||
Segment Reporting Information [Line Items] | |||
Total revenues | 38,169 | 42,201 | 39,387 |
Latin America [Member] | |||
Segment Reporting Information [Line Items] | |||
Total revenues | 5,764 | 4,707 | 6,829 |
Asia Pacific [Member] | |||
Segment Reporting Information [Line Items] | |||
Total revenues | $ 2,292 | $ 1,971 | $ 4,464 |
Customer Concentration Risk [Member] | Total Revenue [Member] | |||
Segment Reporting Information [Line Items] | |||
% of total revenues | 10.00% | 10.00% | 10.00% |
Customer Concentration Risk [Member] | Total Revenue [Member] | North America [Member] | |||
Segment Reporting Information [Line Items] | |||
% of total revenues | 45.00% | 55.00% | 56.00% |
Customer Concentration Risk [Member] | Total Revenue [Member] | Europe and Middle East [Member] | |||
Segment Reporting Information [Line Items] | |||
% of total revenues | 45.00% | 39.00% | 34.00% |
Customer Concentration Risk [Member] | Total Revenue [Member] | Latin America [Member] | |||
Segment Reporting Information [Line Items] | |||
% of total revenues | 7.00% | 4.00% | 6.00% |
Customer Concentration Risk [Member] | Total Revenue [Member] | Asia Pacific [Member] | |||
Segment Reporting Information [Line Items] | |||
% of total revenues | 3.00% | 2.00% | 4.00% |
Segment Information, Signific70
Segment Information, Significant Customers and Geographic Information - Schedule of Revenue from External Customers Attributed to Foreign Countries by Geographic Area (Parenthetical) (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 31, 2017 | Jan. 31, 2016 | Jan. 31, 2015 | |
Segment Reporting Information [Line Items] | |||
Total revenues | $ 83,795 | $ 106,992 | $ 115,435 |
United States Revenue [Member] | |||
Segment Reporting Information [Line Items] | |||
Total revenues | $ 30,094 | $ 46,978 | $ 59,819 |
Total Revenue [Member] | Customer Concentration Risk [Member] | |||
Segment Reporting Information [Line Items] | |||
% of total revenue | 10.00% | 10.00% | 10.00% |
Total Revenue [Member] | Customer Concentration Risk [Member] | United States Revenue [Member] | |||
Segment Reporting Information [Line Items] | |||
% of total revenue | 35.90% | 43.90% | 51.80% |
Segment Information, Signific71
Segment Information, Significant Customers and Geographic Information - Long-Lived Assets by Geographic Locations (Detail) - USD ($) $ in Thousands | Jan. 31, 2017 | Jan. 31, 2016 |
Revenues from External Customers and Long-Lived Assets [Line Items] | ||
Total long-lived assets by geographic location | $ 18,424 | $ 23,891 |
North America [Member] | ||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||
Total long-lived assets by geographic location | $ 14,729 | $ 18,944 |
Long-lived assets, Percentage | 80.00% | 79.00% |
Europe and Middle East [Member] | ||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||
Total long-lived assets by geographic location | $ 2,878 | $ 3,575 |
Long-lived assets, Percentage | 16.00% | 15.00% |
Asia Pacific [Member] | ||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||
Total long-lived assets by geographic location | $ 817 | $ 1,372 |
Long-lived assets, Percentage | 4.00% | 6.00% |
Income Taxes - Components of Lo
Income Taxes - Components of Loss from Continuing Operations before Income Taxes (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 31, 2017 | Jan. 31, 2016 | Jan. 31, 2015 | |
Income Tax Disclosure [Abstract] | |||
Domestic | $ (40,452) | $ (38,709) | $ (25,920) |
Foreign | (16,166) | (10,044) | (2,694) |
Loss from continuing operations before income taxes and equity income in earnings of affiliates | $ (56,618) | $ (48,753) | $ (28,614) |
Income Taxes - Components of In
Income Taxes - Components of Income Tax Provision (Benefit) from Continuing Operations (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 31, 2017 | Jan. 31, 2016 | Jan. 31, 2015 | |
Current: | |||
Federal | $ 0 | $ 0 | $ 0 |
State | 50 | 50 | (762) |
Foreign | (94) | (49) | 24 |
Total | (44) | 1 | (738) |
Deferred: | |||
Foreign | 14,675 | (1,030) | (368) |
Total | 14,675 | (1,030) | (368) |
Income tax (benefit) provision | $ 14,631 | $ (1,029) | $ (1,106) |
Income Taxes - Income Tax Provi
Income Taxes - Income Tax Provision (Benefit) for Continuing Operations Computed Using Federal Statutory Income Tax Rate (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 31, 2017 | Jan. 31, 2016 | Jan. 31, 2015 | |
Income Tax Disclosure [Abstract] | |||
Statutory U.S. federal tax rate | $ (19,816) | $ (17,066) | $ (10,014) |
State taxes, net of federal tax benefit | 32 | 33 | (779) |
Income (losses) not benefited | 10,679 | 15,712 | 8,913 |
Non-deductible stock compensation expense | 266 | 3 | |
Other non-deductible items | 252 | (31) | (74) |
Innovative technology and development incentive | (189) | (68) | |
Foreign tax rate differential | 3,499 | 509 | 916 |
APB 23 deferred tax liability | 14,675 | ||
Goodwill impairment | 5,044 | ||
Income tax (benefit) provision | $ 14,631 | $ (1,029) | $ (1,106) |
Income Taxes - Income Tax Pro75
Income Taxes - Income Tax Provision (Benefit) for Continuing Operations Computed Using Federal Statutory Income Tax Rate (Parenthetical) (Detail) - USD ($) $ in Millions | 12 Months Ended | |
Jan. 31, 2017 | Jan. 31, 2016 | |
Income Tax Disclosure [Abstract] | ||
Income tax reconciliation other adjustments included in other non-deductible expenses | $ 0.1 | $ (0.2) |
Income Taxes - Additional Infor
Income Taxes - Additional Information (Detail) - USD ($) | 12 Months Ended | |||
Jan. 31, 2017 | Jan. 31, 2016 | Jan. 31, 2015 | Jul. 31, 2016 | |
Income Taxes Disclosure [Line Items] | ||||
Effective tax rate (benefit)/provision | 26.00% | 2.00% | 4.00% | |
Deferred tax assets, operating loss carry forwards, domestic | $ 84,700,000 | |||
Operating loss carry forwards, expiry beginning year | 2,018 | |||
Deferred tax assets, operating loss carry forwards, state and local | $ 117,500,000 | |||
Deferred tax assets, operating loss carry forwards, foreign | 6,300,000 | |||
Deferred tax assets capital loss carry forwards, domestic | $ 13,100,000 | |||
Capital loss carry forwards expiration dates | 2,018 | |||
Deferred tax assets, tax credit carry forwards, alternative minimum tax | $ 600,000 | |||
Deferred tax assets, tax credit carry forwards, foreign | 2,000,000 | |||
Tax credit carry forward with an unlimited carryforward period | 800,000 | |||
Valuation allowance | 58,134,000 | $ 47,368,000 | ||
Valuation allowance increased | 10,700,000 | |||
Undistributed earnings of foreign subsidiaries | 6,000,000 | |||
Deferred tax liability related to the foreign income | 14,675,000 | |||
Incremental tax benefit | 400,000 | |||
Tax benefit recognized for the statute of limitations | 269,000 | 325,000 | ||
Tax benefit recognized for the effect of foreign translation | 14,000 | $ 51,000 | ||
Interest on income tax expense | 300,000 | |||
Irish Operations [Member] | ||||
Income Taxes Disclosure [Line Items] | ||||
Undistributed earnings of foreign subsidiaries | $ 58,600,000 | |||
Deferred tax liability related to the foreign income | $ 14,700,000 | |||
State and Local Jurisdiction [Member] | ||||
Income Taxes Disclosure [Line Items] | ||||
Deferred tax assets, tax credit carry forwards, research | 3,600,000 | |||
Deferred tax assets tax credit carry forward investment | 200,000 | |||
Federal [Member] | ||||
Income Taxes Disclosure [Line Items] | ||||
Deferred tax assets, tax credit carry forwards, research | $ 1,800,000 |
Income Taxes - Components of De
Income Taxes - Components of Deferred Income Taxes (Detail) - USD ($) $ in Thousands | Jan. 31, 2017 | Jan. 31, 2016 |
Deferred tax assets: | ||
Accruals and reserves | $ 1,815 | $ 5,041 |
Deferred revenue | 79 | 346 |
Stock-based compensation expense | 3,730 | 3,655 |
U.S. federal, state and foreign tax credits | 7,459 | 7,510 |
Intangible assets | 6,834 | 7,153 |
Loss carryforwards | 38,356 | 24,172 |
Deferred tax assets | 58,273 | 47,877 |
Less: Valuation allowance | (58,134) | (47,368) |
Net deferred tax assets | 139 | 509 |
Deferred tax liabilities: | ||
APB 23 deferred tax liability | 14,675 | |
Other | 75 | 75 |
Property and equipment | 121 | 426 |
Total net deferred tax (liabilities) | $ (14,732) | |
Total net deferred tax assets | $ 8 |
Income Taxes - Reconciliation o
Income Taxes - Reconciliation of Beginning and Ending Balance of Total Amounts of Gross Unrecognized Tax Benefits (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Jan. 31, 2017 | Jan. 31, 2016 | |
Income Tax Disclosure [Abstract] | ||
Balance of gross unrecognized tax benefits, beginning of period | $ 5,151 | $ 5,527 |
Gross amounts of increases in unrecognized tax benefits as a result of tax positions taken in the current period | 321 | |
Decrease due to expiration of statute of limitation | (269) | (325) |
Decrease for tax positions related to prior years | (96) | |
Effect of currency translation | (14) | (51) |
Balance of gross unrecognized tax benefits, end of period | $ 5,093 | $ 5,151 |
Employee Benefit Plans - Additi
Employee Benefit Plans - Additional Information (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Jan. 31, 2017 | Jan. 31, 2016 | Jan. 31, 2015 | |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | |||
Benefit payments related to plan | $ 0.2 | ||
Retirement Savings Plan [Member] | |||
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | |||
Defined contribution plan, cost recognized | $ 1.4 | $ 1.5 | $ 1.7 |
Employee Benefit Plans - Compon
Employee Benefit Plans - Components of the Change in Pension Benefit Obligation (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 31, 2017 | Jan. 31, 2016 | Jan. 31, 2015 | |
Defined Benefit Pension Plans and Defined Benefit Postretirement Plans Disclosure [Abstract] | |||
Projected benefit obligation, beginning of fiscal year | $ 1,063 | $ 1,247 | |
Service cost | 238 | 288 | $ 176 |
Interest cost | 54 | 51 | 39 |
Actuarial gain | (801) | (435) | 379 |
Foreign currency exchange rate changes | (24) | (88) | |
Projected benefit obligation, end of fiscal year | 530 | 1,063 | $ 1,247 |
Funded status at end of fiscal year | $ 530 | $ 1,063 |
Employee Benefit Plans - Comp81
Employee Benefit Plans - Components of Net Periodic Benefit Cost of the Pension Plan (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 31, 2017 | Jan. 31, 2016 | Jan. 31, 2015 | |
Defined Benefit Pension Plans and Defined Benefit Postretirement Plans Disclosure [Abstract] | |||
Service cost | $ 238 | $ 288 | $ 176 |
Interest cost | 54 | 51 | 39 |
Actuarial (gain) loss | (801) | (435) | 379 |
Net periodic benefit cost | $ (509) | $ (96) | $ 594 |
Employee Benefit Plans - Detail
Employee Benefit Plans - Details of Weighted Average Assumptions Used in the Accounting for the Pension Plan (Detail) | Jan. 31, 2017 | Jan. 31, 2016 |
Defined Benefit Pension Plans and Defined Benefit Postretirement Plans Disclosure [Abstract] | ||
Discount rate | 5.72% | 5.08% |
Compensation increase rate | 5.00% | 7.00% |
Net Loss Per Share - Schedule o
Net Loss Per Share - Schedule of Earnings Per Share, Basic and Diluted (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Jan. 31, 2017 | Oct. 31, 2016 | Jul. 31, 2016 | Apr. 30, 2016 | Jan. 31, 2016 | Oct. 31, 2015 | Jul. 31, 2015 | Apr. 30, 2015 | Jan. 31, 2017 | Jan. 31, 2016 | Jan. 31, 2015 | |
Earnings Per Share [Abstract] | |||||||||||
Net loss from continuing operations | $ (71,249) | $ (47,697) | $ (27,489) | ||||||||
Net income from discontinued operations | 5 | ||||||||||
Net loss | $ (27,376) | $ (8,082) | $ (26,884) | $ (8,907) | $ (22,280) | $ (10,565) | $ (5,027) | $ (9,825) | $ (71,249) | $ (47,697) | $ (27,484) |
Weighted average shares used in computing net loss per share-basic and diluted | 34,970 | 33,506 | 32,772 | ||||||||
Net loss per share-basic and diluted: | |||||||||||
Loss from continuing operations | $ (2.04) | $ (1.42) | $ (0.84) | ||||||||
Income from discontinued operations | 0 | ||||||||||
Net loss per share-basic and diluted | $ (2.04) | $ (1.42) | $ (0.84) |
Net Loss Per Share - Schedule84
Net Loss Per Share - Schedule of Anti-dilutive Securities Excluded from Computation of Earnings Per Share (Detail) - shares shares in Thousands | 12 Months Ended | ||
Jan. 31, 2017 | Jan. 31, 2016 | Jan. 31, 2015 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Anti-dilutive potentially outstanding common shares | 2,251 | 1,674 | 1,814 |
Stock Options [Member] | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Anti-dilutive potentially outstanding common shares | 1,415 | 1,493 | 1,586 |
Restricted Stock Units [Member] | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Anti-dilutive potentially outstanding common shares | 448 | 145 | 217 |
Deferred Stock Units [Member] | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Anti-dilutive potentially outstanding common shares | 70 | 31 | 11 |
Performance Stock Units (PSUs) [Member] | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Anti-dilutive potentially outstanding common shares | 318 | 5 |
Quarterly Results of Operatio85
Quarterly Results of Operations-Unaudited - Quarterly Results of Operations (Detail) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Jan. 31, 2017 | Oct. 31, 2016 | Jul. 31, 2016 | Apr. 30, 2016 | Jan. 31, 2016 | Oct. 31, 2015 | Jul. 31, 2015 | Apr. 30, 2015 | Jan. 31, 2017 | Jan. 31, 2016 | Jan. 31, 2015 | |
Quarterly Financial Information Disclosure [Abstract] | |||||||||||
Revenue | $ 23,812 | $ 19,961 | $ 18,452 | $ 21,570 | $ 27,197 | $ 28,747 | $ 27,871 | $ 23,177 | |||
Gross profit | 15,763 | 9,812 | 7,456 | 9,149 | 15,419 | 6,877 | 14,427 | 10,116 | $ 42,180 | $ 46,839 | $ 57,107 |
Operating expenses | 40,231 | 18,247 | 19,124 | 18,724 | 37,561 | 18,718 | 19,177 | 19,582 | 96,326 | 95,038 | 83,560 |
Net loss | $ (27,376) | $ (8,082) | $ (26,884) | $ (8,907) | $ (22,280) | $ (10,565) | $ (5,027) | $ (9,825) | $ (71,249) | $ (47,697) | $ (27,484) |
Loss per share | |||||||||||
Basic | $ (0.78) | $ (0.23) | $ (0.77) | $ (0.26) | $ (0.66) | $ (0.31) | $ (0.16) | $ (0.29) | $ (2.04) | $ (1.42) | $ (0.84) |
Diluted | $ (0.78) | $ (0.23) | $ (0.77) | $ (0.26) | $ (0.66) | $ (0.31) | $ (0.16) | $ (0.29) | $ (2.04) | $ (1.42) | $ (0.84) |
Quarterly Results of Operatio86
Quarterly Results of Operations-Unaudited - Quarterly Results of Operations (Parenthetical) (Detail) - USD ($) $ in Thousands | 1 Months Ended | 3 Months Ended | 12 Months Ended | ||
Jan. 31, 2017 | Jan. 31, 2017 | Jan. 31, 2016 | Jan. 31, 2017 | Jan. 31, 2016 | |
Schedule Of Quarterly Financial Information [Line Items] | |||||
Loss on impairment of long-lived assets | $ 500 | $ 23,500 | $ 21,500 | $ 23,772 | $ 21,464 |
Operating Income (Loss) [Member] | |||||
Schedule Of Quarterly Financial Information [Line Items] | |||||
Loss on impairment of long-lived assets | 23,700 | ||||
New Hampshire [Member] | |||||
Schedule Of Quarterly Financial Information [Line Items] | |||||
Loss on impairment of long-lived assets | $ 200 |
Schedule II - Valuation and Qua
Schedule II - Valuation and Qualifying Accounts (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 31, 2017 | Jan. 31, 2016 | Jan. 31, 2015 | |
Valuation and Qualifying Accounts Disclosure [Line Items] | |||
Balance at beginning of period | $ 47,368 | ||
Balance at end of period | 58,134 | $ 47,368 | |
Deferred Tax Assets Valuation Allowance [Member] | |||
Valuation and Qualifying Accounts Disclosure [Line Items] | |||
Balance at beginning of period | 47,368 | 30,369 | $ 20,789 |
Additions, Charged to costs and expenses | 10,766 | 16,999 | 9,580 |
Balance at end of period | 58,134 | 47,368 | 30,369 |
Accounts Receivable Allowance [Member] | |||
Valuation and Qualifying Accounts Disclosure [Line Items] | |||
Balance at beginning of period | 415 | 400 | 327 |
Additions, Charged to costs and expenses | 597 | 59 | 80 |
Additions, Charged to other accounts | (61) | ||
Deductions and write-offs | (75) | (44) | (7) |
Balance at end of period | $ 876 | $ 415 | $ 400 |