Document and Entity Information
Document and Entity Information - shares | 6 Months Ended | |
Jul. 31, 2021 | Sep. 01, 2021 | |
Document Information [Line Items] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Jul. 31, 2021 | |
Document Fiscal Year Focus | 2022 | |
Document Fiscal Period Focus | Q2 | |
Entity Registrant Name | SEACHANGE INTERNATIONAL INC | |
Entity Central Index Key | 0001019671 | |
Current Fiscal Year End Date | --01-31 | |
Entity Filer Category | Non-accelerated Filer | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 49,040,253 | |
Entity File Number | 001-38828 | |
Entity Tax Identification Number | 04-3197974 | |
Entity Address, Address Line One | 177 Huntington Ave, Ste 1703 #73480 | |
Entity Address, City or Town | Boston | |
Entity Address, State or Province | MA | |
Entity Incorporation, State or Country Code | DE | |
Entity Address, Postal Zip Code | 02115 | |
City Area Code | (978) | |
Local Phone Number | 897-0100 | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Common Stock [Member] | ||
Document Information [Line Items] | ||
Trading Symbol | SEAC | |
Title of 12(b) Security | Common Stock, $0.01 Par Value | |
Security Exchange Name | NASDAQ | |
Series A Preferred Stock [Member] | ||
Document Information [Line Items] | ||
Trading Symbol | SEAC | |
Title of 12(b) Security | Series A Participating Preferred Stock Purchase Rights | |
Security Exchange Name | NASDAQ |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Jul. 31, 2021 | Jan. 31, 2021 |
Current assets: | ||
Cash and cash equivalents | $ 18,933 | $ 5,856 |
Marketable securities | 252 | |
Accounts receivable, net of allowance for doubtful accounts of $748 and $934 at July 31, 2021 and January 31, 2021, respectively | 5,560 | 6,050 |
Unbilled receivables | 8,344 | 9,359 |
Prepaid expenses and other current assets | 4,200 | 4,372 |
Total current assets | 37,037 | 25,889 |
Property and equipment, net | 498 | 605 |
Operating lease right-of-use assets | 2,504 | 4,968 |
Intangible assets, net | 622 | 1,272 |
Goodwill | 10,393 | 10,577 |
Unbilled receivables | 6,079 | 6,340 |
Other assets | 672 | 757 |
Total assets | 57,805 | 50,408 |
Current liabilities: | ||
Accounts payable | 1,284 | 1,825 |
Accrued expenses | 3,663 | 4,277 |
Deferred revenue | 4,133 | 4,737 |
Promissory note | 1,340 | |
Total current liabilities | 9,080 | 12,179 |
Deferred revenue | 146 | 657 |
Operating lease liabilities | 1,797 | 4,070 |
Taxes payable | 674 | 763 |
Promissory note | 1,073 | |
Other liabilities | 125 | 125 |
Total liabilities | 11,822 | 18,867 |
Commitments and contingencies (Note 6) | ||
Stockholders' equity: | ||
Common stock, $0.01 par value; 100,000,000 shares authorized at July 31, 2021 and January 31, 2021; 49,212,173 shares issued and 49,040,253 shares outstanding at July 31, 2021; 37,811,224 shares issued and 37,639,304 shares outstanding at January 31, 2021; | 492 | 378 |
Additional paid-in capital | 264,972 | 246,446 |
Treasury stock, at cost; 171,920 shares at July 31, 2021 and January 31, 2021 | (227) | (227) |
Accumulated other comprehensive loss | (430) | (73) |
Accumulated deficit | (218,824) | (214,983) |
Total stockholders' equity | 45,983 | 31,541 |
Total liabilities and stockholders' equity | $ 57,805 | $ 50,408 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands | Jul. 31, 2021 | Jan. 31, 2021 |
Statement Of Financial Position [Abstract] | ||
Allowance for doubtful accounts receivable | $ 748 | $ 934 |
Common stock, par value | $ 0.01 | $ 0.01 |
Common stock, shares authorized | 100,000,000 | 100,000,000 |
Common stock, shares issued | 49,212,173 | 37,811,224 |
Common stock, shares outstanding | 49,040,253 | 37,639,304 |
Treasury stock, common shares | 171,920 | 171,920 |
Consolidated Statements of Oper
Consolidated Statements of Operations and Comprehensive Loss - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jul. 31, 2021 | Jul. 31, 2020 | Jul. 31, 2021 | Jul. 31, 2020 | |
Revenue: | ||||
Total revenue | $ 6,540 | $ 4,995 | $ 11,592 | $ 11,910 |
Cost of revenue: | ||||
Total cost of revenue | 2,423 | 3,181 | 4,644 | 7,587 |
Gross profit | 4,117 | 1,814 | 6,948 | 4,323 |
Operating expenses: | ||||
Research and development | 2,213 | 3,360 | 4,881 | 7,526 |
Selling and marketing | 1,643 | 1,728 | 3,023 | 3,854 |
General and administrative | 2,682 | 2,367 | 4,787 | 4,421 |
Severance and restructuring costs | 87 | 543 | 571 | 1,029 |
Total operating expenses | 6,625 | 7,998 | 13,262 | 16,830 |
Loss from operations | (2,508) | (6,184) | (6,314) | (12,507) |
Other income (expense), net | 212 | 373 | (16) | 165 |
Gain on extinguishment of debt | 2,440 | 2,440 | ||
Income (loss) before income taxes | 144 | (5,811) | (3,890) | (12,342) |
Income tax benefit | 83 | 45 | 49 | 66 |
Net income (loss) | $ 227 | $ (5,766) | $ (3,841) | $ (12,276) |
Net income (loss) per share, basic | $ 0 | $ (0.15) | $ (0.09) | $ (0.33) |
Net income (loss) per share, diluted | $ 0 | $ (0.15) | $ (0.09) | $ (0.33) |
Weighted average common shares outstanding, basic | 48,489 | 37,527 | 44,958 | 37,376 |
Weighted average common shares outstanding, diluted | 48,727 | 37,527 | 44,958 | 37,376 |
Comprehensive loss: | ||||
Net income (loss) | $ 227 | $ (5,766) | $ (3,841) | $ (12,276) |
Other comprehensive (loss) income, net of tax: | ||||
Comprehensive loss | (172) | (4,114) | (4,198) | (10,639) |
Foreign currency translation adjustment | (399) | 1,665 | (358) | 1,641 |
Unrealized (losses) gains on marketable securities | (13) | 1 | (4) | |
Total other comprehensive (loss) income | (399) | 1,652 | (357) | 1,637 |
Product [Member] | ||||
Revenue: | ||||
Total revenue | 2,709 | 1,066 | 4,329 | 4,164 |
Cost of revenue: | ||||
Cost of revenue | 693 | 788 | 1,099 | 2,368 |
Service [Member] | ||||
Revenue: | ||||
Total revenue | 3,831 | 3,929 | 7,263 | 7,746 |
Cost of revenue: | ||||
Cost of revenue | $ 1,730 | $ 2,393 | $ 3,545 | $ 5,219 |
Consolidated Statements of Stoc
Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands | Total | Common Stock [Member] | Additional Paid-in Capital [Member] | Treasury Stock [Member] | Accumulated Other Comprehensive Loss [Member] | Accumulated Deficit [Member] |
Beginning balance at Jan. 31, 2020 | $ 49,932 | $ 373 | $ 245,067 | $ (147) | $ (2,137) | $ (193,224) |
Beginning balance, Shares at Jan. 31, 2020 | 37,303,952 | |||||
Issuance of common stock pursuant to vesting of restricted stock units | $ 4 | (4) | ||||
Issuance of common stock pursuant to vesting of restricted stock units, Shares | 379,063 | |||||
Issuance of common stock pursuant to ESPP purchases | 18 | 18 | ||||
Issuance of common stock pursuant to ESPP purchases, shares | 5,702 | |||||
Issuance of common stock pursuant to exercise of stock options | 119 | 119 | ||||
Issuance of common stock pursuant to exercise of stock options, shares | 39,270 | |||||
Stock-based compensation expense | 617 | 617 | ||||
Repurchases of common stock | (80) | (80) | ||||
Unrealized gain(losses) on marketable securities | (4) | (4) | ||||
Foreign currency translation adjustment | 1,641 | 1,641 | ||||
Net income (loss) | (12,276) | (12,276) | ||||
Ending balance at Jul. 31, 2020 | 39,967 | $ 377 | 245,817 | (227) | (500) | (205,500) |
Ending balance, Shares at Jul. 31, 2020 | 37,727,987 | |||||
Beginning balance at Apr. 30, 2020 | 43,901 | $ 376 | 245,558 | (147) | (2,152) | (199,734) |
Beginning balance, Shares at Apr. 30, 2020 | 37,661,641 | |||||
Issuance of common stock pursuant to vesting of restricted stock units | $ 1 | (1) | ||||
Issuance of common stock pursuant to vesting of restricted stock units, Shares | 66,346 | |||||
Stock-based compensation expense | 260 | 260 | ||||
Repurchases of common stock | (80) | (80) | ||||
Unrealized gain(losses) on marketable securities | (13) | (13) | ||||
Foreign currency translation adjustment | 1,665 | 1,665 | ||||
Net income (loss) | (5,766) | (5,766) | ||||
Ending balance at Jul. 31, 2020 | 39,967 | $ 377 | 245,817 | (227) | (500) | (205,500) |
Ending balance, Shares at Jul. 31, 2020 | 37,727,987 | |||||
Beginning balance at Jan. 31, 2021 | 31,541 | $ 378 | 246,446 | (227) | (73) | (214,983) |
Beginning balance, Shares at Jan. 31, 2021 | 37,811,224 | |||||
Issuance of common stock pursuant to vesting of restricted stock units | $ 10 | (10) | ||||
Issuance of common stock pursuant to vesting of restricted stock units, Shares | 981,927 | |||||
Issuance of common stock pursuant to exercise of stock options | 137 | $ 1 | 136 | |||
Issuance of common stock pursuant to exercise of stock options, shares | 95,538 | |||||
Issuance of common stock, net of issuance costs | 17,462 | $ 103 | 17,359 | |||
Issuance of common stock, net of issuance costs, shares | 10,323,484 | |||||
Stock-based compensation expense | 1,041 | 1,041 | ||||
Unrealized gain(losses) on marketable securities | 1 | 1 | ||||
Foreign currency translation adjustment | (358) | (358) | ||||
Net income (loss) | (3,841) | (3,841) | ||||
Ending balance at Jul. 31, 2021 | 45,983 | $ 492 | 264,972 | (227) | (430) | (218,824) |
Ending balance, Shares at Jul. 31, 2021 | 49,212,173 | |||||
Beginning balance at Apr. 30, 2021 | 45,322 | $ 484 | 264,147 | (227) | (31) | (219,051) |
Beginning balance, Shares at Apr. 30, 2021 | 48,408,342 | |||||
Issuance of common stock pursuant to vesting of restricted stock units | $ 8 | (8) | ||||
Issuance of common stock pursuant to vesting of restricted stock units, Shares | 803,831 | |||||
Stock-based compensation expense | 833 | 833 | ||||
Foreign currency translation adjustment | (399) | (399) | ||||
Net income (loss) | 227 | 227 | ||||
Ending balance at Jul. 31, 2021 | $ 45,983 | $ 492 | $ 264,972 | $ (227) | $ (430) | $ (218,824) |
Ending balance, Shares at Jul. 31, 2021 | 49,212,173 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 6 Months Ended | |
Jul. 31, 2021 | Jul. 31, 2020 | |
Cash flows from operating activities: | ||
Net loss | $ (3,841) | $ (12,276) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Depreciation and amortization expense | 732 | 725 |
Loss on disposal of fixed assets | 77 | |
Gain on write-off of operating lease right-of-use assets and liabilities related to termination | (328) | |
Gain on extinguishment of debt | (2,440) | |
Change in allowance for doubtful accounts | (135) | (216) |
Stock-based compensation expense | 1,041 | 617 |
Deferred income taxes | 186 | |
Realized and unrealized foreign currency transaction loss | 201 | 1,641 |
Other | 1 | (3) |
Changes in operating assets and liabilities: | ||
Accounts receivable | 579 | 6,332 |
Unbilled receivables | 1,208 | 2,345 |
Prepaid expenses and other current assets and other assets | 354 | 291 |
Accounts payable | (527) | (1,290) |
Accrued expenses and other liabilities | (170) | (2,814) |
Deferred revenue | (1,085) | (1,084) |
Net cash used in operating activities | (4,333) | (5,546) |
Cash flows from investing activities: | ||
Purchases of property and equipment | (77) | (202) |
Proceeds from sales and maturities of marketable securities | 252 | 2,476 |
Net cash provided by investing activities | 175 | 2,274 |
Cash flows from financing activities: | ||
Proceeds from stock option exercises | 137 | 119 |
Proceeds from employee stock purchase plan | 18 | |
Proceeds from issuance of common stock, net of issuance costs | 17,462 | |
Repurchases of common stock | (80) | |
Proceeds from the Paycheck Protection Program | 2,413 | |
Net cash provided by financing activities | 17,599 | 2,470 |
Effect of exchange rate on cash, cash equivalents and restricted cash | (242) | (840) |
Net increase (decrease) in cash, cash equivalents and restricted cash | 13,199 | (1,642) |
Cash, cash equivalents and restricted cash at beginning of period | 6,084 | 9,297 |
Cash, cash equivalents and restricted cash at end of period | 19,283 | 7,655 |
Supplemental disclosure of cash flow information | ||
Income taxes paid | $ 109 | 92 |
Non-cash activities: | ||
Right-of-use assets obtained in exchange for lease obligations | $ 987 |
Nature of Business and Basis of
Nature of Business and Basis of Presentation | 6 Months Ended |
Jul. 31, 2021 | |
Organization Consolidation And Presentation Of Financial Statements [Abstract] | |
Nature of Business and Basis of Presentation | 1. SeaChange International, Inc. (“we” or the “Company”), was incorporated under the laws of the state of Delaware on July 9, 1993. We are an industry leader in the delivery of multiscreen, advertising and premium over-the-top (“OTT”) video management solutions. Our software products and services are designed to empower video providers to create, manage and monetize the increasingly personalized, highly engaging experiences that viewers demand. Liquidity In the first half of fiscal 2021, we reduced our headcount across all departments in response to the COVID-19 pandemic and in the second quarter of fiscal 2021 we transferred our technical support services to our Poland location in an effort to further reduce cost. In the first quarter of fiscal 2022, we . Additionally, in the first quarter of fiscal 2022, we issued and sold 10,323,484 shares of common stock, $0.01 par value per share, at a public offering price of $1.85 per share (the “Offering”). The Offering resulted in approximately $17.5 million in proceeds, net of underwriting discounts and commissions of 6.5%, or $0.12025 per share of common stock, and offering expenses of approximately $0.2 million. In addition to the Offering, the Company also granted the underwriters a 45-day option to purchase up to an additional 1,548,522 shares at a purchase price of $1.85 per share, less underwriting discounts and commissions (the “Underwriter Option”). The Underwriter Option was not exercised and has expired. In the second quarter of fiscal 2022, we were granted full forgiveness of the promissory note (the “Note”) we entered into with Silicon Valley Bank (the “Lender”) in May 2020 pursuant to the Paycheck Protection Program (the “PPP”) under the Coronavirus Aid and Economic Security Act (the “CARES Act”) administered by the U.S. Small Business Administration (“SBA”). will be adequate to satisfy our working capital, capital expenditure requirements and other contractual obligations for at least 12 months from the date of this filing. If our expectations are incorrect, we may need to raise additional funds to fund our operations or take advantage of unanticipated strategic opportunities in order 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. 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. Impact of COVID-19 Pandemic In the first quarter of fiscal 2021, concerns related to the spread of COVID-19 began to create global business disruptions as well as disruptions in our operations and to create potential negative impacts on our revenues and other financial results. COVID-19 was declared a pandemic by the World Health Organization on March 11, 2020. The extent to which COVID-19 will impact our financial condition or results of operations is currently uncertain and depends on factors including the impact on our customers, partners, and vendors and on the operation of the global markets in general. Due to our business model, the effect of COVID-19 on our results of operations may also not be fully reflected for some time. We are currently conducting business with substantial modifications to employee travel, employee work locations, virtualization or cancellation of customer and employee events, and remote sales, implementation, and support activities, among other modifications. These decisions may delay or reduce sales and harm productivity and collaboration. We have observed other companies and governments making similar alterations to their normal business operations, and in general, the markets are experiencing a significant level of uncertainty at the current time. Virtualization of our team’s sales activities could foreclose future business opportunities, particularly as our customers limit spending, which could negatively impact the willingness of our customers to enter into or renew contracts with us. The pandemic has impacted our ability to complete certain implementations, negatively impacting our ability to recognize revenue, and could also negatively impact the payment of accounts receivable and collections. We continue to realize our on-going cost optimization efforts in response to the impact of the pandemic. We may take further actions that alter our business operations as the situation evolves. As a result, the ultimate impact of the COVID-19 pandemic and the effects of the operational alterations we have made in response on our business, financial condition, liquidity, and financial results cannot be predicted at this time. On March 27, 2020, President Trump signed into law the CARES Act. The CARES Act, among other things, includes provisions relating to refundable payroll tax credits, deferment of employer side social security payments, net operating loss carryback periods, alternative minimum tax credit refunds, modifications to the net interest deduction limitations and technical corrections to tax depreciation methods for qualified improvement property. We continue to examine the impact that the CARES Act may have on our business . 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 of America (“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. Certain prior period amounts have been reclassified to conform to the current year presentation. The accompanying unaudited consolidated financial statements included herein have been prepared by the Company pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). Certain information and footnote disclosures normally included in consolidated financial statements prepared in accordance with U.S. GAAP have been omitted pursuant to applicable rules and regulations. In the opinion of management, all adjustments of a normal recurring nature which were considered necessary for a fair presentation have been included. The year-end consolidated balance sheet data as of January 31, 2021 was derived from our audited consolidated financial statements and may not include all disclosures required by U.S. GAAP. The results of operations for the three and six months ended July 31, 2021 are not necessarily indicative of the results to be expected for the entire year. These consolidated financial statements should be read in conjunction with the consolidated financial statements and the notes thereto included in our Annual Report on Form 10-K for the fiscal year ended January 31, 2021, filed with the SEC on April 15, 2021. |
Significant Accounting Policies
Significant Accounting Policies | 6 Months Ended |
Jul. 31, 2021 | |
Accounting Policies [Abstract] | |
Significant Accounting Policies | 2. Use of Estimates The preparation of these consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and judgments that affect the reported amounts of assets, liabilities, revenue and expenses, and disclosure of contingent assets and liabilities. Significant estimates and assumptions reflected in these consolidated financial statements include, but are not limited to, those related to revenue recognition, allowance for doubtful accounts, goodwill and intangible assets, impairment of long-lived assets, accounting for income taxes, the valuation of stock-based awards, and management’s assessment of the Company’s ability to continue as a going concern. We base our estimates on historical experience, known trends and other market-specific or relevant factors that are believed to be reasonable under the circumstances. On an ongoing basis, management evaluates its estimates as there are changes in circumstances, facts and experience. Changes in estimates are recorded in the period in which they become known. Actual results may differ from those estimates or assumptions. Cash, Cash Equivalents and Restricted Cash 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 the date of purchase of 90 days or less. All cash equivalents are carried at cost, which approximates fair value. Restricted cash represents cash that is restricted as to withdrawal or usage and consists primarily of cash held as collateral in relation to obligations set forth by the landlord of our Poland facility. The following table provides a summary of cash, cash equivalents and restricted cash in the consolidated balance sheets as of the periods presented: As of July 31, 2021 January 31, 2021 (Amounts in thousands) Cash and cash equivalents $ 18,933 $ 5,856 Restricted cash 350 228 Total cash, cash equivalents and restricted cash $ 19,283 $ 6,084 Restricted cash is included as a component of other assets in the consolidated balance sheets. Marketable Securities Our investments in debt securities are classified as available-for-sale and are carried at fair value, with the unrealized gains and losses, net of tax, reported as a component of accumulated other comprehensive loss in stockholders’ equity. Realized gains and losses and declines in value determined to be other than temporary are based on the specific identification method and are included as a component of other expense, net in the consolidated statements of operations and comprehensive loss. We evaluate our investments with unrealized losses for other-than-temporary impairment. When assessing investments for other-than-temporary declines in value, we consider such factors as, among other things, how significant the decline in value is as a percentage of the original cost, how long the market value of the investment has been less than its original cost, our ability and intent to retain the investment for a period of time sufficient to allow for any anticipated recovery in fair value and market conditions in general. If any adjustment to fair value reflects a decline in the value of the investment that we consider to be “other than temporary,” we reduce the investment to fair value through a charge to the consolidated statement of operations and comprehensive loss. No such adjustments were necessary during the periods presented. Fair Value Measurements Certain assets and liabilities are carried at fair value under U.S. GAAP. Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs. Financial assets and liabilities carried at fair value are to be classified and disclosed in one of the following three levels of the fair value hierarchy, of which the first two are considered observable and the last is considered unobservable: • Level 1—Quoted prices in active markets for identical assets or liabilities. • Level 2—Observable inputs (other than Level 1 quoted prices), such as quoted prices in active markets for similar assets or liabilities, quoted prices in markets that are not active for identical or similar assets or liabilities, or other inputs that are observable or can be corroborated by observable market data. • Level 3—Unobservable inputs that are supported by little or no market activity and that are significant to determining the fair value of the assets or liabilities, including pricing models, discounted cash flow methodologies and similar techniques. Our cash equivalents and marketable securities are carried at fair value determined according to the fair value hierarchy described above. The carrying values of our accounts and other receivables, unbilled receivables, accounts payable, accrued expenses, and the Note approximate their fair values due to the short-term nature of these assets and liabilities. Concentration of Credit Risk and of Significant Customers Financial instruments which potentially expose us to concentrations of credit risk include cash, cash equivalents and restricted cash, marketable securities and accounts receivable. We have cash investment policies which, among other things, limit investments to investment-grade securities. We restrict our cash equivalents and 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. We sell our software products and services worldwide primarily to service providers consisting of operators, telecommunications companies, satellite operators and broadcasters. Two two Goodwill and Acquired Intangible Assets We record goodwill when consideration paid in a business acquisition exceeds the value of the net assets acquired. Our estimates of fair value are based upon assumptions believed to be reasonable at that time but such estimates are inherently uncertain and unpredictable. Assumptions may be incomplete or inaccurate and unanticipated events or circumstances may occur, which may affect the accuracy or validity of such assumptions, estimates or actual results. Goodwill is tested for impairment annually on August 1 st mergers, and a decline in our market value as a result of a significant decline in our stock price. The re were no impairment charges recorded in fiscal 2021 or the first half of fiscal 2022. We performed our annual impairment test on August 1, 2021 using a quantitative approach. We considered macroeconomic, industry-specific and Company specific factors in addition to estimates and assumptions in our analysis. We estimated the fair value of the reporting unit using the income (or discounted cash flows model) and market approaches and determined there was no impairment as our fair value exceeded our carrying value. Intangible assets are recorded at their estimated fair values at the date of acquisition. We amortize intangible assets over their estimated useful lives based on the pattern of consumption of the economic benefits or, if that pattern cannot be readily determined, on a straight-line basis. Impairment of Long-Lived Assets Long-lived assets primarily consist of property, plant and equipment and intangible assets with finite lives. Long-lived assets are evaluated for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset or group of assets may not be recoverable. Recoverability of long-lived assets or groups of assets is assessed based on a comparison of the carrying amount to the estimated future undiscounted cash flows. If estimated future undiscounted net cash flows are less than the carrying amount, the asset is considered impaired and expense is recorded at an amount required to reduce the carrying amount to fair value. Determining the fair value of long-lived assets includes significant judgment by management, and different judgments could yield different results. We assess the useful lives and possible impairment of existing recognized long-lived assets whenever events or changes in circumstances occur that indicate that it is more likely than not that an impairment has occurred. Factors considered important which could trigger a review include: • significant underperformance relative to historical or projected future operating results; • significant changes in the manner of use of the acquired assets or the strategy for our overall business; • identification of other impaired assets within a reporting unit; • significant negative industry or economic trends; • a significant decline in our stock price for a sustained period; and • a decline in our market capitalization relative to net book value. Determining whether a triggering event has occurred involves significant judgment. Revenue Recognition Overview Our revenue recognition policies follow Accounting Standards Codification (“ASC”) 606, Revenue from Contracts with Customers. Our revenue is derived from sales of software licenses and associated third party hardware and support services, as well as The Company recognizes revenue from contracts with customers using a five-step model, which is described below: • identify the customer contract; • identify performance obligations that are distinct; • determine the transaction price; • allocate the transaction price to the distinct performance obligations; and • recognize revenue as the performance obligations are satisfied. Identify the customer contract A customer contract is generally identified when there is approval and commitment from both the Company and its customer, the rights have been identified, payment terms are identified, the contract has commercial substance and collectability and consideration is probable. Identify performance obligations that are distinct A performance obligation is a promise to provide a distinct good or service or a series of distinct goods or services. A good or service that is promised to a customer is distinct if the customer can benefit from the good or service either on its own or together with other resources that are readily available to the customer, and a company’s promise to transfer the good or service to the customer is separately identifiable from other promises in the contract. Determine the transaction price The transaction price is the amount of consideration to which the Company expects to be entitled in exchange for transferring goods or services to a customer, excluding sales and VAT taxes that are collected on behalf of government agencies. Allocate the transaction price to distinct performance obligations The transaction price is allocated to each performance obligation based on the relative standalone selling prices (“SSP”) of the goods or services being provided to the customer. Our contracts typically Recognize revenue as the performance obligations are satisfied We enter into contracts that include combinations of license, support and professional services, and third-party products, which are accounted for as separate performance obligations with differing revenue recognition patterns. Revenue is recognized when or as control of the promised goods or services is transferred to customers. Our software licenses are primarily delivered on a perpetual basis, whereby the customer receives rights to use the software for an indefinite time period or a specified term and delivery and revenue recognition occurs at the point in time when the customer has the ability to download or access the software. Our customers may also contract with us for a Software as a Service (“SaaS”) type license whereby the customer only has a right to access the software for a defined term. SaaS licenses are recognized ratably over the subscription period beginning on the date the license is made available to customers. Our services revenue is comprised of support services and professional services. Support services consist of software upgrades on a when-and-if available basis, telephone support, bug fixes or patches and general hardware maintenance support Revenues attributable to third party products typically consist of hardware and related support contracts. Hardware products are typically recognized when control is transferred to the customer, which is defined as the point in time when the client can use and benefit from the hardware. In situations where the hardware is distinct and it is delivered before services are provided and is functional without services, control is transferred upon delivery or acceptance by the customer. Significant Judgments Our contracts with customers often include promises to transfer multiple products and services to a customer. Determining whether products and services are considered distinct performance obligations that should be accounted for separately versus together may require significant judgment. Once we determine the performance obligations, we determine the transaction price, which includes estimating the amount of variable consideration to be included in the transaction price, if any. The transaction price is then allocated to each performance obligation in the contract based on the SSP. The corresponding revenue is recognized as the related performance obligations are satisfied. Judgment is required to determine the SSP for each distinct performance obligation. We determine SSP based on the price at which the performance obligation is sold separately and the methods of estimating SSP under the guidance of ASC 606-10-32-33. If the SSP is not observable through past transactions, we estimate the SSP, taking into account available information such as market conditions, expected margins, and internally approved pricing guidelines related to the performance obligations. In February 2019, we began selling our software bundle called the Framework in addition to our legacy software products and services. Our legacy products were historically sold on a standalone basis and therefore the SSP and revenue recognition may differ from the Framework. A typical Framework deal licenses our software products and services, including upgrades for one fixed price. Management considers the pricing of our Framework perpetual licenses as highly variable and uncertain and we do not have a history of selling the Framework software on a standalone basis. We recognize the portion of the transaction price allocated to the Framework software on a residual basis, as we have at least one performance obligation for which the SSP is observable. The Company notes that both hardware and support services represent observable pricing. The SSP for our legacy software is also recognized on a residual basis, as we have observable SSP for the associated support services sold with the software license based on historical observable data of selling support contracts on a standalone basis. We may also license our software as a SaaS type license, whereby our customer only has a right to access the software over a specified time period and the service includes technical support and unspecified upgrades and bug fixes. We recognize the full value of the contract ratably over the contractual term of the SaaS license. Our services revenue is comprised of support services, software license implementation services, engineering services, training and reimbursable expenses. We have concluded that services are distinct performance obligations, with the exception of engineering services. Engineering services may be provided on a standalone basis or bundled with a license when we are providing custom development. We utilize the cost-plus margin method to determine the SSP for our Framework support services offerings and hardware sales. For Framework support services, w e calculate the average cost of support to within a small range to arrive at an average expected cost. Legacy support services are priced as a percentage of the list price of the related software license and hardware. Historically, we determined the SSP of the support services based on this pricing relationship and observable data from standalone sales of support contracts. The expected cost-plus margin for hardware is based on the cost of the hardware from third parties, plus a reasonable markup that the Company believes is reflective of a market-based reseller margin. The SSP for services in time and materials contracts is determined by observable prices in standalone services arrangements. We estimate the SSP for fixed price services based on estimated hours adjusted for historical experience at time and material rates charged in standalone services arrangements. Revenue for fixed price services is recognized over time as the services are provided based on an input measure of hours incurred to total estimated hours. Some of our contracts have payment terms that differ from the timing of revenue recognition, which requires us to assess whether the transaction price for those contracts include a significant financing component. We have elected the practical expedient that permits an entity to not adjust for the effects of a significant financing component if we expect that at the contract inception, the period between when the entity transfers a promised good or service to a customer and when the customer pays for that good or service, will be one year or less. For those contracts in which the period exceeds the one-year threshold, this assessment, as well as the quantitative estimate of the financing component and its relative significance, requires judgment. We estimate the significant financing component provided to our customers with extended payment terms by determining the present value of the future payments by applying an average standard industry discount rate that reflects the customer’s creditworthiness. Payment terms with customers typically require payment 30 days from invoice date. Our agreements with customers do not provide for any refunds for services or products and therefore no specific reserve for such is maintained. In the infrequent instances where customers raise a concern over delivered products or services, we have endeavored to remedy the concern and all costs related to such matters have been insignificant in all periods presented. We occasionally enter into amendments to previously executed contracts that may constitute contract modifications. The amendments are assessed to determine if (1) the additional products and services are distinct from the product and services in the original arrangement; and (2) the amount of consideration expected for the added products and services reflects the SSP of those products and services. An amendment or contract modification meeting both criteria is accounted for as a separate contract. A contract modification not meeting both criteria is considered a change to the original contract and is accounted for on either a prospective basis as a termination of the existing contract and the creation of a new contract or a cumulative catch-up basis. Contract Balances Contract assets consist of unbilled revenue, which is recognized as work progresses in accordance with agreed-upon contractual terms, either at periodic intervals or upon achievement of contractual milestones. Unbilled receivables expected to be billed and collected within one year are classified as current assets or long-term assets if expected to be billed and collected after one year (see Note 10). Costs to Obtain and Fulfill a Contract We recognize an asset for the incremental costs of obtaining a contract with a customer if we expect the benefit of those costs to be longer than one year. We have determined that commissions and special incentive payments (“Spiffs”) for hardware and software maintenance and support and professional services paid under our sales incentive programs meet the requirements to be capitalized under ASC 340-40. Costs to obtain a contract are amortized as selling and marketing expense over the expected period of benefit in a manner that is consistent with the transfer of the related goods or services to which the asset relates. The judgments made in determining the amount of costs incurred include whether the commissions are in fact incremental and would not have occurred absent the customer contract and the estimate of the amortization period. The commissions and Spiffs related to professional services are amortized over time as work is completed. The commissions and Spiffs for hardware and software maintenance are amortized over the life of the contract . These costs are periodically reviewed for impairment. We determined that no impairment of these assets existed as of July 31, 2021 or January 31, 202 1 . We have elected to apply the practical expedient and recognize the incremental costs of obtaining contracts as an expense when incurred if the amortization period of the assets that we otherwise would have recognized is one year or less. Total deferred capitalized commission costs were $ 431 thousand as of July 31 , 2021 compared to $ thousand as of January 31, 202 1 . Current deferred capitalized commission costs are included in p repaid expense and other current assets in our consolidated balance sheets and non-current deferred capitalized commission costs are included in o ther assets in our consolidated balance sheets. C apitalized commission s expense d during the six months ended July 31 , 202 1 and 20 20 included in the consolidated statement of operations and comprehensive loss were $ 123 thousand and $ 218 thousand, respectively . Leases We account for our leases in accordance with ASC 842, Leases A contract is accounted for as a lease when we have the right to control the asset for a period of time while obtaining substantially all of the asset’s economic benefits. We determine if an arrangement is a lease or contains an embedded lease at inception. For arrangements that meet the definition of a lease, we determine the initial classification and measurement of our right-of-use operating lease asset and corresponding liability at the lease commencement date. We determine the classification and measurement of a modified lease at the date it is modified. The lease term includes only renewal options that are reasonably assured to exercise. The present value of lease payments is typically determined by using the Company’s estimated secured incremental borrowing rate for the associated lease term as interest rates implicit in the leases are not normally readily determinable. Management’s policy is to utilize the practical expedient to not record leases with an original term of twelve months or less on our consolidated balance sheets. Lease payments are recognized in the consolidated statements of operations and comprehensive loss on a straight-line basis over the lease term. Our existing leases are for facilities and equipment. None of our leases are with related parties. In addition to rent, office leases may require us to pay additional amounts for taxes, insurance, maintenance and other expenses, which are generally referred to as non-lease components As a practical expedient, we account for the non-lease components together with the lease components as a single lease component for all of our leases Net Income (Loss) Per Share Basic net income (loss) per share is computed by dividing net income (loss) by the weighted average number of unrestricted common shares outstanding during the period. Diluted net income (loss) per share is computed by dividing net income (loss) by the sum of the weighted average number of unrestricted common shares outstanding during the period and the weighted average number of potential common shares from the assumed exercise of stock options and the vesting of shares of restricted and deferred common stock units using the “treasury stock” method when the effect is not anti-dilutive. In periods in which we report a net loss, diluted net loss per share is the same as basic net loss per share. The number of common shares used in the computation of diluted net income per share for the period presented includes the effect of the following potentially outstanding common shares (in thousands): For the Three Months Ended July 31, 2021 Restricted stock units 159 Deferred stock units 79 238 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: For the Three Months Ended July 31, For the Six Months Ended July 31, 2021 2020 2021 2020 (Amounts in thousands) (Amounts in thousands) Stock options 1,453 2,314 1,671 967 Restricted stock units 113 65 124 58 Deferred stock units 62 82 41 82 1,628 2,461 1,836 1,108 Recently Issued Accounting Pronouncements In December 2019, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (“ASU”) No. 2019-12, Income Taxes (Topic 740) Pending Accounting Pronouncements In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments—Credit Losses (Topic 326) |
Fair Value Measurements
Fair Value Measurements | 6 Months Ended |
Jul. 31, 2021 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements | 3. The following tables set forth our financial assets that were accounted for at fair value on a recurring basis. There were no fair value measurements of our financial assets using level 2 or level 3 inputs for the periods presented: Fair Value at July 31, 2021 Using Total Level 1 Level 2 (Amounts in thousands) Assets: Cash equivalents $ 46 $ 46 $ — Total $ 46 $ 46 $ — Fair Value at January 31, 2021 Using Total Level 1 Level 2 (Amounts in thousands) Assets: Cash equivalents $ 46 $ 46 $ — Marketable securities: U.S. Treasury Notes and bonds 252 252 — Total $ 298 $ 298 $ - Cash equivalents include money market funds and U.S. treasury bills. There were no marketable securities held as of July 31, 2021. Marketable securities by security type consisted of the following as of January 31, 2021: As of January 31, 2021 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (Amounts in thousands) U.S. Treasury Notes and bonds $ 249 $ 3 $ — $ 252 $ 249 $ 3 $ — $ 252 |
Consolidated Balance Sheet Deta
Consolidated Balance Sheet Detail | 6 Months Ended |
Jul. 31, 2021 | |
Organization Consolidation And Presentation Of Financial Statements [Abstract] | |
Consolidated Balance Sheet Detail | 4. Property and Equipment, Net Property and equipment, net consisted of the following: As of July 31, 2021 January 31, 2021 (Amounts in thousands) Computer equipment, software and demonstration equipment $ 3,223 $ 9,765 Office furniture and equipment 279 306 Leasehold improvements 151 238 3,653 10,309 Less: Accumulated depreciation and amortization (3,155 ) (9,704 ) Total property and equipment, net $ 498 $ 605 Depreciation expense was $43 thousand and $70 thousand for the three months ended July 31, 2021 and July 31, 2020, respectively, and $103 thousand and $142 thousand for the six months ended July 31, 2021 and July 31, 2020, respectively. Accrued Expenses Accrued expenses consisted of the following: As of July 31, 2021 January 31, 2021 (Amounts in thousands) Accrued employee compensation and benefits $ 1,094 $ 742 Accrued professional fees 187 575 Sales tax and VAT payable 48 271 Current obligation - right of use operating leases 835 1,387 Accrued other 1,499 1,302 Total accrued expenses $ 3,663 $ 4,277 |
Goodwill and Intangible Assets
Goodwill and Intangible Assets | 6 Months Ended |
Jul. 31, 2021 | |
Goodwill And Intangible Assets Disclosure [Abstract] | |
Goodwill and Intangible Assets | 5 . Goodwill represents the difference between the purchase price and the estimated fair value of identifiable assets acquired and liabilities assumed. We are required to perform an impairment test annually, or more often if we identify certain events or circumstances that would more likely than not reduce the estimated fair value of the goodwill below its carrying amount. There were no impairment charges recorded in fiscal 2021 or the first half of fiscal 2022. The following table represents the changes in goodwill since January 31, 2021: Goodwill (Amounts in thousands) Balance as of January 31, 2021 $ 10,577 Translation adjustment (184 ) Balance as of July 31, 2021 $ 10,393 Intangible assets, net, consisted of the following for the periods presented: As of July 31, 2021 Gross Accumulated Amortization Cumulative Translation Adjustment Net (Amounts in thousands) Finite-lived intangible assets: Acquired customer contracts $ 2,205 $ (1,861 ) $ 40 $ 384 Acquired existing technology 1,364 (1,154 ) 28 238 Total finite-lived intangible assets $ 3,569 $ (3,015 ) $ 68 $ 622 As of January 31, 2021 Gross Accumulated Amortization Cumulative Translation Adjustment Net (Amounts in thousands) Finite-lived intangible assets: Acquired customer contracts $ 2,205 $ (1,469 ) $ 49 $ 785 Acquired existing technology 1,364 (910 ) 33 487 Total finite-lived intangible assets $ 3,569 $ (2,379 ) $ 82 $ 1,272 We recognized amortization expense of intangible assets in operating expense categories on the consolidated statements of operations and comprehensive loss as follows: For the Three Months Ended July 31, For the Six Months Ended July 31, 2021 2020 2021 2020 (Amounts in thousands) (Amounts in thousands) Selling and marketing $ 195 $ 366 $ 390 $ 366 Research and development 121 (67 ) 242 217 $ 316 $ 299 $ 632 $ 583 Future estimated amortization expense of intangibles as of July 31, 2021 was $0.6 million to be recognized in fiscal 2022. |
Commitments and Contingencies
Commitments and Contingencies | 6 Months Ended |
Jul. 31, 2021 | |
Commitments And Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | 6 . Litigation Certain conditions may exist as of the date the consolidated financial statements are issued which may result in a loss to the Company, but which will only be resolved when one or more future events occur or fail to occur. We assess such contingent liabilities, and such assessment inherently involves an exercise of judgment. In assessing loss contingencies related to legal proceedings that are pending against us, or unasserted claims that may result in such proceedings, we evaluate the perceived merits of any legal proceedings or unasserted claims, as well as the perceived merits of the amount of relief sought or expected to be sought therein. If the assessment of a contingency indicates that it is probable that a material loss has been incurred and the amount of the liability can be estimated, then the estimated liability would be accrued in our consolidated financial statements. If our assessment indicates that a potentially material loss contingency is not probable, but is reasonably possible, or is probable but cannot be estimated, then the nature of the contingent liability and an estimate of the range of possible losses, if determinable and material, would be disclosed. Loss contingencies considered remote are generally not disclosed, unless they involve guarantees, in which case the guarantees would be disclosed. 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 into agreements in the ordinary course of business with customers, resellers, distributors, integrators and suppliers. Most of our historical 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. |
Operating Leases
Operating Leases | 6 Months Ended |
Jul. 31, 2021 | |
Leases [Abstract] | |
Operating Leases | 7 . The Company has operating leases for facilities and equipment expiring at various dates through 2025. The components of lease expense are as follows: For the Three Months Ended July 31, 2021 For the Six Months Ended July 31, 2021 (Amounts in thousands) Operating lease cost $ 178 $ 461 Short term lease cost, net 4 8 Total lease cost $ 182 $ 469 Supplemental cash flow information related to the Company’s operating leases was as follows: For the Three Months Ended July 31, For the Six Months Ended July 31, 2021 2020 2021 2020 (Amounts in thousands) (Amounts in thousands) Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases $ 223 $ 244 $ 733 $ 566 Supplemental balance sheet information related to the Company's operating leases was as follows: As of July 31, 2021 As of January 31, 2021 (Amounts in thousands) Operating lease right-of-use assets $ 2,504 $ 4,968 Current portion, operating lease liabilities 835 1,387 Operating lease liabilities, long term 1,797 4,070 Total operating lease liabilities $ 2,632 $ 5,457 Weighted average remaining lease term (years) 3.4 4.0 Weighted average incremental borrowing rate 5.0 % 5.0 % The current portion, operating lease liabilities is included in the balance of accrued expenses at July 31, 2021. Future minimum lease payments for operating leases, with initial or remaining terms in excess of one year at July 31, 2021, are as follows: Payments for Operating Leases For the Fiscal Years Ended January 31, (Amounts in thousands) 2022 $ 435 2023 809 2024 798 2025 823 Total lease payments 2,865 Less interest 233 Total operating lease liabilities $ 2,632 In the first quarter of fiscal 2022, we entered into the Termination Agreement which terminated the sublease with respect to our former headquarters in Waltham, Massachusetts, effective March 21, 2021. In connection with the early termination of the sublease, the Company paid the sublandlord termination payments of approximately $0.1 million and $0.4 million for the three and six months ending July 31, 2021, respectively. The Company also wrote off all related operating lease right-of-use assets and liabilities as of the termination date, resulting in a $0.3 million non-cash gain, which partially offset the loss on the termination payments. The net $0.1 million loss on lease termination is reported as a component of severance and restructuring expense on the consolidated statements of operations and comprehensive loss for the six months ended July 31, 2021. Prior to the execution of the Termination Agreement, the sublease had been scheduled to expire in February 2025. |
Severance and Restructuring Cos
Severance and Restructuring Costs | 6 Months Ended |
Jul. 31, 2021 | |
Restructuring And Related Activities [Abstract] | |
Severance and Restructuring Costs | 8 . During the three and six months ended July 31, 2021, we incurred severance costs of less than $0.1 million and $0.2 million, respectively, and restructuring costs of $0.1 million and $0.4 million, respectively, primarily for employee-related termination benefits in relation to the restructuring of our finance department and expenses related to the closure of our leased facility in Waltham, Massachusetts. The following table shows the change in accrued restructuring balances since January 31, 2021 primarily related to our finance department restructuring efforts and closure of our leased headquarters facility, reported as a component of accrued expenses on the consolidated balance sheets: Employee- Related Benefits Closure of Leased Facilities Total (Amounts in thousands) Accrued balance as of January 31, 2021 $ — $ — $ — Restructuring charges incurred 147 463 610 Cash payments (115 ) (463 ) (578 ) Accrued balance as of July 31, 2021 $ 32 $ — $ 32 |
Stock-Based Compensation Expens
Stock-Based Compensation Expense | 6 Months Ended |
Jul. 31, 2021 | |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | |
Stock-Based Compensation Expense | 9 . Equity Plans Compensation and Incentive Plans Our Second Amended and Restated 2011 Compensation and Incentive Plan (the “2011 Plan”) provided for the grant of incentive stock options (“ISOs”), nonqualified stock options (“NQs”), restricted stock, restricted stock units (“RSUs”), deferred stock units (“DSUs”), performance stock units (“PSUs”) and other equity based non-stock option awards as determined by the plan administrator to our officers, employees, consultants and directors. The 2011 Plan expired on July 20, 2021. Our 2021 Compensation and Incentive Plan (the “2021 Plan”) was proposed by the Board of Directions (the “Board”) and adopted by stockholders in July 2021 to permit the continued issuance of equity-based compensation, including the granting of ISOs, NQs, restricted stock, RSUs, DSUs, PSUs, and other equity based non-stock option awards as determined by the plan administrator to our officers, employees, consultants and directors. Under the 2021 Plan, 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, or a committee of independent members of the Board (the “Committee”), is responsible for the administration of the 2021 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 or Committee may elect to modify the terms of an award. The number of shares authorized for issuance under the 2021 Plan is 4,896,878, including 2,396,878 shares awarded under the that may become available for issuance under the 2021 Plan due to the expiration, termination, surrender, or forfeiture of such outstanding awards. Nonemployee members of the Board may elect to receive DSUs or stock options in lieu of RSUs. The number of units subject to the DSUs is determined as of the grant date and shall fully vest one year from the grant date. The shares underlying the DSUs are not vested and issued until the earlier of the director ceasing to be a member of the Board (provided such time is subsequent to the first day of the succeeding fiscal year) or immediately prior to a change in control. Option awards may be granted 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 and not less than 110% of the fair market value per common share on the date of the grant with respect to ISOs granted to employees owning stock possessing more than 10% of the total combined voting power of all classes of stock of the Company. Option awards granted under the 2021 Plan generally vest over a period of one to three years and expire ten years from the date of the grant. We have a Long-Term Incentive Program, adopted in fiscal 2016, under which the named executive officers and other of our key employees may 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 PSUs subject to vesting based in part on the extent to which employment continues. 2015 Employee Stock Purchase Plan Under our 2015 Employee Stock Purchase Plan (the “ESPP”), six-month offering periods begin on October 1 and April 1 of each year during which eligible employees may elect to purchase shares of our common stock according to the terms of the offering . On each purchase date, eligible employees can 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. The maximum number of shares of our common stock authorized for sale under the ESPP is 1,150,000 shares, of which 1,075,024 remain available under the ESPP as of July 31, 2021. There were no shares purchased under the ESPP during the first half of fiscal 2022 as the Company suspended the ESPP as of April 1, 2020 and is still evaluating when the suspension will be lifted, if at all. Under the ESPP, 5,702 shares were purchased during the first half of fiscal 2021. Award Activity In the first half of fiscal 2022, we granted 1,080,000 option awards and 1,049,088 RSU awards with a total grant date fair value of $2.6 million. In the first half of fiscal 2022, we canceled 1,320,335 option awards and 171,308 RSU awards, including PSUs. Stock-Based Compensation We recognized stock-based compensation expense within the accompanying consolidated statements of operations and comprehensive loss as follows: For the Three Months Ended July 31, For the Six Months Ended July 31, 2021 2020 2021 2020 (Amounts in thousands) (Amounts in thousands) Cost of revenue $ 23 $ — $ 24 $ (8 ) Research and development (2 ) 68 (79 ) 135 Sales and marketing 50 55 68 95 General and administrative 762 137 1,028 395 $ 833 $ 260 $ 1,041 $ 617 As of July 31, 2021, unrecognized stock-based compensation expense related to unvested stock options was approximately $0.6 million, which is expected to be recognized over a weighted average period of 1.9 years. As of July 31, 2021, unrecognized stock-based compensation expense related to unvested RSUs and DSUs was $0.6 million and $0.1 million, respectively, which is expected to be recognized over weighted average amortization periods of 1.5 years and 0.7 years, respectively. Additionally, as of July 31, 2021, unrecognized stock-based compensation expense related to unvested PSUs was less than $0.1 million, which is expected to be recognized over a weighted average amortization period of 1.3 years. |
Accounts Receivables, Contract
Accounts Receivables, Contract Assets, and Contract Liabilities | 6 Months Ended |
Jul. 31, 2021 | |
Receivables [Abstract] | |
Accounts Receivables, Contract Assets, and Contract Liabilities | 10 . Receivables The following table summarizes our accounts receivable, net and unbilled receivables: As of July 31, As of January 31, 2021 2021 (Amounts in thousands) Accounts receivable, net $ 5,560 $ 6,050 Unbilled receivables, current 8,344 9,359 Unbilled receivables, long-term 6,079 6,340 $ 19,983 $ 21,749 Contract Assets Contract assets consist of unbilled receivables and are customer committed amounts for which revenue recognition precedes billing, and billing is solely subject to the passage of time. Unbilled receivables are expected to be billed in the future as follows (amounts in thousands, except percentage amounts): As of July 31, 2021 Percentage 1 year or less $ 8,344 58 % 1-2 years 4,688 32 % 2-5 years 1,391 10 % Total unbilled receivables $ 14,423 100 % Contract Liabilities Contract liabilities consist of deferred revenue and customer deposits that arise when amounts are billed to or collected from customers in advance of revenue recognition. Deferred revenue that will be recognized during the succeeding 12-month period is recorded as current deferred revenue and the remaining portion is recorded as deferred revenue, long-term. Deferred Revenue Current Long-Term (Amounts in thousands) Balance as of January 31, 2021 $ 4,737 $ 657 Decrease (604 ) (511 ) Balance as of July 31, 2021 $ 4,133 $ 146 We recognized $1.3 million of revenue related to deferred billings in the second quarter of fiscal 2022 and $3.0 million of revenue related to deferred billings is the first half of fiscal 2022. Remaining Performance Obligations The aggregate amount of transaction price that is allocated to performance obligations that have not yet been satisfied or are partially satisfied as of July 31, 2021 is $26.4 million. This amount includes amounts billed for undelivered services that are included in deferred revenue reported on the consolidated balance sheets. Revenue recognized in the first half of fiscal 2022 related to remaining performance obligations as of the previous fiscal year ended January 31, 2021 was $7.6 million. |
Disaggregated Revenue and Geogr
Disaggregated Revenue and Geographic Information | 6 Months Ended |
Jul. 31, 2021 | |
Segment Reporting [Abstract] | |
Disaggregated Revenue and Geographic Information | 1 1 . Disaggregated Revenue The following table summarizes our revenue disaggregated by revenue stream: For the Three Months Ended July 31, For the Six Months Ended July 31, 2021 2020 2021 2020 (Amounts in thousands) (Amounts in thousands) Product revenue: Framework $ 1,034 $ 365 $ 2,050 $ 1,333 Online video platform and other 1,480 575 2,084 1,412 Hardware 195 126 195 1,419 Total product revenue 2,709 1,066 4,329 4,164 Service revenue: - - - - Maintenance and support 2,185 2,608 4,223 5,213 Framework and support services 1,317 978 2,256 1,909 Professional services and other 329 343 784 624 Total service revenue 3,831 3,929 7,263 7,746 Total revenue $ 6,540 $ 4,995 $ 11,592 $ 11,910 Geographic Information The following summarizes revenue by customers’ geographic locations: For the Three Months Ended July 31, For the Six Months Ended July 31, 2021 % 2020 % 2021 % 2020 % (Amounts in thousands, except percentages) (Amounts in thousands, except percentages) Revenue by customers' geographic locations: North America (1) $ 4,329 66% $ 2,318 46% $ 7,030 61% $ 5,896 50% Europe and Middle East 1,579 24% 2,150 43% 3,540 31% 4,132 35% Latin America 478 7% 343 7% 691 6% 1,476 12% Asia Pacific 154 2% 184 4% 331 3% 406 3% Total revenue $ 6,540 $ 4,995 $ 11,592 $ 11,910 (1) Includes total revenue for the United States for the periods shown as follows: For the Three Months Ended July 31, For the Six Months Ended July 31, 2021 2020 2021 2020 (Amounts in thousands, except percentages) (Amounts in thousands, except percentages) US Revenue $ 3,697 $ 1,662 $ 5,895 $ 4,005 % of total revenue 57 % 33 % 51 % 34 % The following summarizes long-lived assets by geographic locations: As of July 31, 2021 % As of January 31, 2021 % (Amounts in thousands, except percentages) Long-lived assets by geographic locations(1): North America $ 7,628 74% $ 10,864 79% Europe and Middle East 2,716 26% 2,819 21% Asia Pacific 31 0% 31 0% Total long-lived assets by geographic location $ 10,375 $ 13,714 (1) Excludes goodwill. |
Income Taxes
Income Taxes | 6 Months Ended |
Jul. 31, 2021 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | 1 2 . Income Taxes Each interim period is considered an integral part of the annual period and, accordingly, we measure our income tax expense using an estimated annual effective tax rate. A company is required, at the end of each interim reporting period, to make its best estimate of the annual effective tax rate for the full fiscal year and use that rate to provide for income taxes on a current year-to-date basis, as adjusted for discrete taxable events that occur during the interim period. We recorded an income tax benefit of less than $0.1 million for the three and six months ended July 31, 2021 and July 31, 2020. The tax provision for the six months ended July 31, 2021 includes a $0.2 million tax benefit related to the reversal of tax reserves for uncertain tax positions due to the expiration of the Polish statute of limitations. We review all available evidence to evaluate the recovery of deferred tax assets, including the recent history of losses in all tax jurisdictions, as well as our ability to generate income in future periods. As of July 31, 2021, due to the uncertainty related to the ultimate use of certain deferred income tax assets, we have recorded a valuation allowance on certain deferred assets. We file income tax returns in the U.S. federal jurisdiction, various state jurisdictions and various foreign jurisdictions. We have closed out an audit with the Internal Revenue Service through fiscal 2013; however, the taxing authorities will still have the ability to 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. On March 4, 2019, our Board of Directors approved and adopted a tax benefits preservation plan (the “Tax Benefits Preservation Plan”) to potentially limit our ability to use net operating loss carryforwards and certain other tax attributes (“NOLs”) to reduce our potential future federal income tax obligations. In connection with the Tax Benefits Preservation Plan, we declared a dividend of one preferred share purchase right for each share of our common stock issued and outstanding as of March 15, 2019 to our stockholders of record on that date. The Tax Benefits Preservation Plan expires no later than March 4, 2022, and was approved by our stockholders at our 2019 annual meeting of stockholders on July 11, 2019. |
Significant Accounting Polici_2
Significant Accounting Policies (Policies) | 6 Months Ended |
Jul. 31, 2021 | |
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 of America (“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. Certain prior period amounts have been reclassified to conform to the current year presentation. The accompanying unaudited consolidated financial statements included herein have been prepared by the Company pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). Certain information and footnote disclosures normally included in consolidated financial statements prepared in accordance with U.S. GAAP have been omitted pursuant to applicable rules and regulations. In the opinion of management, all adjustments of a normal recurring nature which were considered necessary for a fair presentation have been included. The year-end consolidated balance sheet data as of January 31, 2021 was derived from our audited consolidated financial statements and may not include all disclosures required by U.S. GAAP. The results of operations for the three and six months ended July 31, 2021 are not necessarily indicative of the results to be expected for the entire year. These consolidated financial statements should be read in conjunction with the consolidated financial statements and the notes thereto included in our Annual Report on Form 10-K for the fiscal year ended January 31, 2021, filed with the SEC on April 15, 2021. |
Use of Estimates | Use of Estimates The preparation of these consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and judgments that affect the reported amounts of assets, liabilities, revenue and expenses, and disclosure of contingent assets and liabilities. Significant estimates and assumptions reflected in these consolidated financial statements include, but are not limited to, those related to revenue recognition, allowance for doubtful accounts, goodwill and intangible assets, impairment of long-lived assets, accounting for income taxes, the valuation of stock-based awards, and management’s assessment of the Company’s ability to continue as a going concern. We base our estimates on historical experience, known trends and other market-specific or relevant factors that are believed to be reasonable under the circumstances. On an ongoing basis, management evaluates its estimates as there are changes in circumstances, facts and experience. Changes in estimates are recorded in the period in which they become known. Actual results may differ from those estimates or assumptions. |
Cash, Cash Equivalents, and Restricted Cash | Cash, Cash Equivalents and Restricted Cash 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 the date of purchase of 90 days or less. All cash equivalents are carried at cost, which approximates fair value. Restricted cash represents cash that is restricted as to withdrawal or usage and consists primarily of cash held as collateral in relation to obligations set forth by the landlord of our Poland facility. The following table provides a summary of cash, cash equivalents and restricted cash in the consolidated balance sheets as of the periods presented: As of July 31, 2021 January 31, 2021 (Amounts in thousands) Cash and cash equivalents $ 18,933 $ 5,856 Restricted cash 350 228 Total cash, cash equivalents and restricted cash $ 19,283 $ 6,084 |
Marketable Securities | Marketable Securities Our investments in debt securities are classified as available-for-sale and are carried at fair value, with the unrealized gains and losses, net of tax, reported as a component of accumulated other comprehensive loss in stockholders’ equity. Realized gains and losses and declines in value determined to be other than temporary are based on the specific identification method and are included as a component of other expense, net in the consolidated statements of operations and comprehensive loss. We evaluate our investments with unrealized losses for other-than-temporary impairment. When assessing investments for other-than-temporary declines in value, we consider such factors as, among other things, how significant the decline in value is as a percentage of the original cost, how long the market value of the investment has been less than its original cost, our ability and intent to retain the investment for a period of time sufficient to allow for any anticipated recovery in fair value and market conditions in general. If any adjustment to fair value reflects a decline in the value of the investment that we consider to be “other than temporary,” we reduce the investment to fair value through a charge to the consolidated statement of operations and comprehensive loss. No such adjustments were necessary during the periods presented. |
Fair Value Measurements | Fair Value Measurements Certain assets and liabilities are carried at fair value under U.S. GAAP. Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs. Financial assets and liabilities carried at fair value are to be classified and disclosed in one of the following three levels of the fair value hierarchy, of which the first two are considered observable and the last is considered unobservable: • Level 1—Quoted prices in active markets for identical assets or liabilities. • Level 2—Observable inputs (other than Level 1 quoted prices), such as quoted prices in active markets for similar assets or liabilities, quoted prices in markets that are not active for identical or similar assets or liabilities, or other inputs that are observable or can be corroborated by observable market data. • Level 3—Unobservable inputs that are supported by little or no market activity and that are significant to determining the fair value of the assets or liabilities, including pricing models, discounted cash flow methodologies and similar techniques. Our cash equivalents and marketable securities are carried at fair value determined according to the fair value hierarchy described above. The carrying values of our accounts and other receivables, unbilled receivables, accounts payable, accrued expenses, and the Note approximate their fair values due to the short-term nature of these assets and liabilities. |
Concentration of Credit Risk and of Significant Customers | Concentration of Credit Risk and of Significant Customers Financial instruments which potentially expose us to concentrations of credit risk include cash, cash equivalents and restricted cash, marketable securities and accounts receivable. We have cash investment policies which, among other things, limit investments to investment-grade securities. We restrict our cash equivalents and 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. We sell our software products and services worldwide primarily to service providers consisting of operators, telecommunications companies, satellite operators and broadcasters. Two two |
Goodwill and Acquired Intangible Assets | Goodwill and Acquired Intangible Assets We record goodwill when consideration paid in a business acquisition exceeds the value of the net assets acquired. Our estimates of fair value are based upon assumptions believed to be reasonable at that time but such estimates are inherently uncertain and unpredictable. Assumptions may be incomplete or inaccurate and unanticipated events or circumstances may occur, which may affect the accuracy or validity of such assumptions, estimates or actual results. Goodwill is tested for impairment annually on August 1 st mergers, and a decline in our market value as a result of a significant decline in our stock price. The re were no impairment charges recorded in fiscal 2021 or the first half of fiscal 2022. We performed our annual impairment test on August 1, 2021 using a quantitative approach. We considered macroeconomic, industry-specific and Company specific factors in addition to estimates and assumptions in our analysis. We estimated the fair value of the reporting unit using the income (or discounted cash flows model) and market approaches and determined there was no impairment as our fair value exceeded our carrying value. Intangible assets are recorded at their estimated fair values at the date of acquisition. We amortize intangible assets over their estimated useful lives based on the pattern of consumption of the economic benefits or, if that pattern cannot be readily determined, on a straight-line basis. |
Impairment of Long-Lived Assets | Impairment of Long-Lived Assets Long-lived assets primarily consist of property, plant and equipment and intangible assets with finite lives. Long-lived assets are evaluated for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset or group of assets may not be recoverable. Recoverability of long-lived assets or groups of assets is assessed based on a comparison of the carrying amount to the estimated future undiscounted cash flows. If estimated future undiscounted net cash flows are less than the carrying amount, the asset is considered impaired and expense is recorded at an amount required to reduce the carrying amount to fair value. Determining the fair value of long-lived assets includes significant judgment by management, and different judgments could yield different results. We assess the useful lives and possible impairment of existing recognized long-lived assets whenever events or changes in circumstances occur that indicate that it is more likely than not that an impairment has occurred. Factors considered important which could trigger a review include: • significant underperformance relative to historical or projected future operating results; • significant changes in the manner of use of the acquired assets or the strategy for our overall business; • identification of other impaired assets within a reporting unit; • significant negative industry or economic trends; • a significant decline in our stock price for a sustained period; and • a decline in our market capitalization relative to net book value. Determining whether a triggering event has occurred involves significant judgment. |
Revenue Recognition | Revenue Recognition Overview Our revenue recognition policies follow Accounting Standards Codification (“ASC”) 606, Revenue from Contracts with Customers. Our revenue is derived from sales of software licenses and associated third party hardware and support services, as well as The Company recognizes revenue from contracts with customers using a five-step model, which is described below: • identify the customer contract; • identify performance obligations that are distinct; • determine the transaction price; • allocate the transaction price to the distinct performance obligations; and • recognize revenue as the performance obligations are satisfied. Identify the customer contract A customer contract is generally identified when there is approval and commitment from both the Company and its customer, the rights have been identified, payment terms are identified, the contract has commercial substance and collectability and consideration is probable. Identify performance obligations that are distinct A performance obligation is a promise to provide a distinct good or service or a series of distinct goods or services. A good or service that is promised to a customer is distinct if the customer can benefit from the good or service either on its own or together with other resources that are readily available to the customer, and a company’s promise to transfer the good or service to the customer is separately identifiable from other promises in the contract. Determine the transaction price The transaction price is the amount of consideration to which the Company expects to be entitled in exchange for transferring goods or services to a customer, excluding sales and VAT taxes that are collected on behalf of government agencies. Allocate the transaction price to distinct performance obligations The transaction price is allocated to each performance obligation based on the relative standalone selling prices (“SSP”) of the goods or services being provided to the customer. Our contracts typically Recognize revenue as the performance obligations are satisfied We enter into contracts that include combinations of license, support and professional services, and third-party products, which are accounted for as separate performance obligations with differing revenue recognition patterns. Revenue is recognized when or as control of the promised goods or services is transferred to customers. Our software licenses are primarily delivered on a perpetual basis, whereby the customer receives rights to use the software for an indefinite time period or a specified term and delivery and revenue recognition occurs at the point in time when the customer has the ability to download or access the software. Our customers may also contract with us for a Software as a Service (“SaaS”) type license whereby the customer only has a right to access the software for a defined term. SaaS licenses are recognized ratably over the subscription period beginning on the date the license is made available to customers. Our services revenue is comprised of support services and professional services. Support services consist of software upgrades on a when-and-if available basis, telephone support, bug fixes or patches and general hardware maintenance support Revenues attributable to third party products typically consist of hardware and related support contracts. Hardware products are typically recognized when control is transferred to the customer, which is defined as the point in time when the client can use and benefit from the hardware. In situations where the hardware is distinct and it is delivered before services are provided and is functional without services, control is transferred upon delivery or acceptance by the customer. Significant Judgments Our contracts with customers often include promises to transfer multiple products and services to a customer. Determining whether products and services are considered distinct performance obligations that should be accounted for separately versus together may require significant judgment. Once we determine the performance obligations, we determine the transaction price, which includes estimating the amount of variable consideration to be included in the transaction price, if any. The transaction price is then allocated to each performance obligation in the contract based on the SSP. The corresponding revenue is recognized as the related performance obligations are satisfied. Judgment is required to determine the SSP for each distinct performance obligation. We determine SSP based on the price at which the performance obligation is sold separately and the methods of estimating SSP under the guidance of ASC 606-10-32-33. If the SSP is not observable through past transactions, we estimate the SSP, taking into account available information such as market conditions, expected margins, and internally approved pricing guidelines related to the performance obligations. In February 2019, we began selling our software bundle called the Framework in addition to our legacy software products and services. Our legacy products were historically sold on a standalone basis and therefore the SSP and revenue recognition may differ from the Framework. A typical Framework deal licenses our software products and services, including upgrades for one fixed price. Management considers the pricing of our Framework perpetual licenses as highly variable and uncertain and we do not have a history of selling the Framework software on a standalone basis. We recognize the portion of the transaction price allocated to the Framework software on a residual basis, as we have at least one performance obligation for which the SSP is observable. The Company notes that both hardware and support services represent observable pricing. The SSP for our legacy software is also recognized on a residual basis, as we have observable SSP for the associated support services sold with the software license based on historical observable data of selling support contracts on a standalone basis. We may also license our software as a SaaS type license, whereby our customer only has a right to access the software over a specified time period and the service includes technical support and unspecified upgrades and bug fixes. We recognize the full value of the contract ratably over the contractual term of the SaaS license. Our services revenue is comprised of support services, software license implementation services, engineering services, training and reimbursable expenses. We have concluded that services are distinct performance obligations, with the exception of engineering services. Engineering services may be provided on a standalone basis or bundled with a license when we are providing custom development. We utilize the cost-plus margin method to determine the SSP for our Framework support services offerings and hardware sales. For Framework support services, w e calculate the average cost of support to within a small range to arrive at an average expected cost. Legacy support services are priced as a percentage of the list price of the related software license and hardware. Historically, we determined the SSP of the support services based on this pricing relationship and observable data from standalone sales of support contracts. The expected cost-plus margin for hardware is based on the cost of the hardware from third parties, plus a reasonable markup that the Company believes is reflective of a market-based reseller margin. The SSP for services in time and materials contracts is determined by observable prices in standalone services arrangements. We estimate the SSP for fixed price services based on estimated hours adjusted for historical experience at time and material rates charged in standalone services arrangements. Revenue for fixed price services is recognized over time as the services are provided based on an input measure of hours incurred to total estimated hours. Some of our contracts have payment terms that differ from the timing of revenue recognition, which requires us to assess whether the transaction price for those contracts include a significant financing component. We have elected the practical expedient that permits an entity to not adjust for the effects of a significant financing component if we expect that at the contract inception, the period between when the entity transfers a promised good or service to a customer and when the customer pays for that good or service, will be one year or less. For those contracts in which the period exceeds the one-year threshold, this assessment, as well as the quantitative estimate of the financing component and its relative significance, requires judgment. We estimate the significant financing component provided to our customers with extended payment terms by determining the present value of the future payments by applying an average standard industry discount rate that reflects the customer’s creditworthiness. Payment terms with customers typically require payment 30 days from invoice date. Our agreements with customers do not provide for any refunds for services or products and therefore no specific reserve for such is maintained. In the infrequent instances where customers raise a concern over delivered products or services, we have endeavored to remedy the concern and all costs related to such matters have been insignificant in all periods presented. We occasionally enter into amendments to previously executed contracts that may constitute contract modifications. The amendments are assessed to determine if (1) the additional products and services are distinct from the product and services in the original arrangement; and (2) the amount of consideration expected for the added products and services reflects the SSP of those products and services. An amendment or contract modification meeting both criteria is accounted for as a separate contract. A contract modification not meeting both criteria is considered a change to the original contract and is accounted for on either a prospective basis as a termination of the existing contract and the creation of a new contract or a cumulative catch-up basis. Contract Balances Contract assets consist of unbilled revenue, which is recognized as work progresses in accordance with agreed-upon contractual terms, either at periodic intervals or upon achievement of contractual milestones. Unbilled receivables expected to be billed and collected within one year are classified as current assets or long-term assets if expected to be billed and collected after one year (see Note 10). Costs to Obtain and Fulfill a Contract We recognize an asset for the incremental costs of obtaining a contract with a customer if we expect the benefit of those costs to be longer than one year. We have determined that commissions and special incentive payments (“Spiffs”) for hardware and software maintenance and support and professional services paid under our sales incentive programs meet the requirements to be capitalized under ASC 340-40. Costs to obtain a contract are amortized as selling and marketing expense over the expected period of benefit in a manner that is consistent with the transfer of the related goods or services to which the asset relates. The judgments made in determining the amount of costs incurred include whether the commissions are in fact incremental and would not have occurred absent the customer contract and the estimate of the amortization period. The commissions and Spiffs related to professional services are amortized over time as work is completed. The commissions and Spiffs for hardware and software maintenance are amortized over the life of the contract . These costs are periodically reviewed for impairment. We determined that no impairment of these assets existed as of July 31, 2021 or January 31, 202 1 . We have elected to apply the practical expedient and recognize the incremental costs of obtaining contracts as an expense when incurred if the amortization period of the assets that we otherwise would have recognized is one year or less. Total deferred capitalized commission costs were $ 431 thousand as of July 31 , 2021 compared to $ thousand as of January 31, 202 1 . Current deferred capitalized commission costs are included in p repaid expense and other current assets in our consolidated balance sheets and non-current deferred capitalized commission costs are included in o ther assets in our consolidated balance sheets. C apitalized commission s expense d during the six months ended July 31 , 202 1 and 20 20 included in the consolidated statement of operations and comprehensive loss were $ 123 thousand and $ 218 thousand, respectively . |
Leases | Leases We account for our leases in accordance with ASC 842, Leases A contract is accounted for as a lease when we have the right to control the asset for a period of time while obtaining substantially all of the asset’s economic benefits. We determine if an arrangement is a lease or contains an embedded lease at inception. For arrangements that meet the definition of a lease, we determine the initial classification and measurement of our right-of-use operating lease asset and corresponding liability at the lease commencement date. We determine the classification and measurement of a modified lease at the date it is modified. The lease term includes only renewal options that are reasonably assured to exercise. The present value of lease payments is typically determined by using the Company’s estimated secured incremental borrowing rate for the associated lease term as interest rates implicit in the leases are not normally readily determinable. Management’s policy is to utilize the practical expedient to not record leases with an original term of twelve months or less on our consolidated balance sheets. Lease payments are recognized in the consolidated statements of operations and comprehensive loss on a straight-line basis over the lease term. Our existing leases are for facilities and equipment. None of our leases are with related parties. In addition to rent, office leases may require us to pay additional amounts for taxes, insurance, maintenance and other expenses, which are generally referred to as non-lease components As a practical expedient, we account for the non-lease components together with the lease components as a single lease component for all of our leases |
Net income (Loss) Per Share | Net Income (Loss) Per Share Basic net income (loss) per share is computed by dividing net income (loss) by the weighted average number of unrestricted common shares outstanding during the period. Diluted net income (loss) per share is computed by dividing net income (loss) by the sum of the weighted average number of unrestricted common shares outstanding during the period and the weighted average number of potential common shares from the assumed exercise of stock options and the vesting of shares of restricted and deferred common stock units using the “treasury stock” method when the effect is not anti-dilutive. In periods in which we report a net loss, diluted net loss per share is the same as basic net loss per share. The number of common shares used in the computation of diluted net income per share for the period presented includes the effect of the following potentially outstanding common shares (in thousands): For the Three Months Ended July 31, 2021 Restricted stock units 159 Deferred stock units 79 238 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: For the Three Months Ended July 31, For the Six Months Ended July 31, 2021 2020 2021 2020 (Amounts in thousands) (Amounts in thousands) Stock options 1,453 2,314 1,671 967 Restricted stock units 113 65 124 58 Deferred stock units 62 82 41 82 1,628 2,461 1,836 1,108 |
Recently Issued Accounting Pronouncement | Recently Issued Accounting Pronouncements In December 2019, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (“ASU”) No. 2019-12, Income Taxes (Topic 740) Pending Accounting Pronouncements In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments—Credit Losses (Topic 326) |
Significant Accounting Polici_3
Significant Accounting Policies (Tables) | 6 Months Ended |
Jul. 31, 2021 | |
Accounting Policies [Abstract] | |
Summary of Cash, Cash Equivalents, and Restricted Cash | The following table provides a summary of cash, cash equivalents and restricted cash in the consolidated balance sheets as of the periods presented: As of July 31, 2021 January 31, 2021 (Amounts in thousands) Cash and cash equivalents $ 18,933 $ 5,856 Restricted cash 350 228 Total cash, cash equivalents and restricted cash $ 19,283 $ 6,084 |
Schedule of Dilutive Securities Included from Computation of Loss Per Share | The number of common shares used in the computation of diluted net income per share for the period presented includes the effect of the following potentially outstanding common shares (in thousands): For the Three Months Ended July 31, 2021 Restricted stock units 159 Deferred stock units 79 238 |
Schedule of Anti-dilutive Securities Excluded from Computation of Loss 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: For the Three Months Ended July 31, For the Six Months Ended July 31, 2021 2020 2021 2020 (Amounts in thousands) (Amounts in thousands) Stock options 1,453 2,314 1,671 967 Restricted stock units 113 65 124 58 Deferred stock units 62 82 41 82 1,628 2,461 1,836 1,108 |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 6 Months Ended |
Jul. 31, 2021 | |
Fair Value Disclosures [Abstract] | |
Fair Value of Financial Assets Measured on Recurring Basis | The following tables set forth our financial assets that were accounted for at fair value on a recurring basis. There were no fair value measurements of our financial assets using level 2 or level 3 inputs for the periods presented: Fair Value at July 31, 2021 Using Total Level 1 Level 2 (Amounts in thousands) Assets: Cash equivalents $ 46 $ 46 $ — Total $ 46 $ 46 $ — Fair Value at January 31, 2021 Using Total Level 1 Level 2 (Amounts in thousands) Assets: Cash equivalents $ 46 $ 46 $ — Marketable securities: U.S. Treasury Notes and bonds 252 252 — Total $ 298 $ 298 $ - |
Summary of Marketable Securities by Security Type | There were no marketable securities held as of July 31, 2021. Marketable securities by security type consisted of the following as of January 31, 2021: As of January 31, 2021 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (Amounts in thousands) U.S. Treasury Notes and bonds $ 249 $ 3 $ — $ 252 $ 249 $ 3 $ — $ 252 |
Consolidated Balance Sheet De_2
Consolidated Balance Sheet Detail (Tables) | 6 Months Ended |
Jul. 31, 2021 | |
Organization Consolidation And Presentation Of Financial Statements [Abstract] | |
Property and Equipment, Net | Property and equipment, net consisted of the following: As of July 31, 2021 January 31, 2021 (Amounts in thousands) Computer equipment, software and demonstration equipment $ 3,223 $ 9,765 Office furniture and equipment 279 306 Leasehold improvements 151 238 3,653 10,309 Less: Accumulated depreciation and amortization (3,155 ) (9,704 ) Total property and equipment, net $ 498 $ 605 |
Accrued Expenses | Accrued expenses consisted of the following: As of July 31, 2021 January 31, 2021 (Amounts in thousands) Accrued employee compensation and benefits $ 1,094 $ 742 Accrued professional fees 187 575 Sales tax and VAT payable 48 271 Current obligation - right of use operating leases 835 1,387 Accrued other 1,499 1,302 Total accrued expenses $ 3,663 $ 4,277 |
Goodwill and Intangible Assets
Goodwill and Intangible Assets (Tables) | 6 Months Ended |
Jul. 31, 2021 | |
Goodwill And Intangible Assets Disclosure [Abstract] | |
Schedule of Change in Carrying Amount of Goodwill | The following table represents the changes in goodwill since January 31, 2021: Goodwill (Amounts in thousands) Balance as of January 31, 2021 $ 10,577 Translation adjustment (184 ) Balance as of July 31, 2021 $ 10,393 |
Schedule of Intangible Assets | Intangible assets, net, consisted of the following for the periods presented: As of July 31, 2021 Gross Accumulated Amortization Cumulative Translation Adjustment Net (Amounts in thousands) Finite-lived intangible assets: Acquired customer contracts $ 2,205 $ (1,861 ) $ 40 $ 384 Acquired existing technology 1,364 (1,154 ) 28 238 Total finite-lived intangible assets $ 3,569 $ (3,015 ) $ 68 $ 622 As of January 31, 2021 Gross Accumulated Amortization Cumulative Translation Adjustment Net (Amounts in thousands) Finite-lived intangible assets: Acquired customer contracts $ 2,205 $ (1,469 ) $ 49 $ 785 Acquired existing technology 1,364 (910 ) 33 487 Total finite-lived intangible assets $ 3,569 $ (2,379 ) $ 82 $ 1,272 |
Schedule of Finite-Life Intangible Assets, Amortization Expense | We recognized amortization expense of intangible assets in operating expense categories on the consolidated statements of operations and comprehensive loss as follows: For the Three Months Ended July 31, For the Six Months Ended July 31, 2021 2020 2021 2020 (Amounts in thousands) (Amounts in thousands) Selling and marketing $ 195 $ 366 $ 390 $ 366 Research and development 121 (67 ) 242 217 $ 316 $ 299 $ 632 $ 583 |
Operating Leases (Tables)
Operating Leases (Tables) | 6 Months Ended |
Jul. 31, 2021 | |
Leases [Abstract] | |
Schedule of Components of Lease Expense | The components of lease expense are as follows: For the Three Months Ended July 31, 2021 For the Six Months Ended July 31, 2021 (Amounts in thousands) Operating lease cost $ 178 $ 461 Short term lease cost, net 4 8 Total lease cost $ 182 $ 469 |
Schedule of Supplemental Cash Flow Information Related to Operating Leases | Supplemental cash flow information related to the Company’s operating leases was as follows: For the Three Months Ended July 31, For the Six Months Ended July 31, 2021 2020 2021 2020 (Amounts in thousands) (Amounts in thousands) Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases $ 223 $ 244 $ 733 $ 566 |
Schedule of Supplemental Balance Sheet Information Related to Operating Leases | Supplemental balance sheet information related to the Company's operating leases was as follows: As of July 31, 2021 As of January 31, 2021 (Amounts in thousands) Operating lease right-of-use assets $ 2,504 $ 4,968 Current portion, operating lease liabilities 835 1,387 Operating lease liabilities, long term 1,797 4,070 Total operating lease liabilities $ 2,632 $ 5,457 Weighted average remaining lease term (years) 3.4 4.0 Weighted average incremental borrowing rate 5.0 % 5.0 % |
Schedule of Future Minimum Lease Payments for Operating Leases | Future minimum lease payments for operating leases, with initial or remaining terms in excess of one year at July 31, 2021, are as follows: Payments for Operating Leases For the Fiscal Years Ended January 31, (Amounts in thousands) 2022 $ 435 2023 809 2024 798 2025 823 Total lease payments 2,865 Less interest 233 Total operating lease liabilities $ 2,632 |
Severance and Restructuring C_2
Severance and Restructuring Costs (Tables) | 6 Months Ended |
Jul. 31, 2021 | |
Restructuring And Related Activities [Abstract] | |
Activity in Accrued Restructuring Liability | The following table shows the change in accrued restructuring balances since January 31, 2021 primarily related to our finance department restructuring efforts and closure of our leased headquarters facility, reported as a component of accrued expenses on the consolidated balance sheets: Employee- Related Benefits Closure of Leased Facilities Total (Amounts in thousands) Accrued balance as of January 31, 2021 $ — $ — $ — Restructuring charges incurred 147 463 610 Cash payments (115 ) (463 ) (578 ) Accrued balance as of July 31, 2021 $ 32 $ — $ 32 |
Stock-Based Compensation Expe_2
Stock-Based Compensation Expense (Tables) | 6 Months Ended |
Jul. 31, 2021 | |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | |
Summary of Stock Based Compensation Expense Recognized | We recognized stock-based compensation expense within the accompanying consolidated statements of operations and comprehensive loss as follows: For the Three Months Ended July 31, For the Six Months Ended July 31, 2021 2020 2021 2020 (Amounts in thousands) (Amounts in thousands) Cost of revenue $ 23 $ — $ 24 $ (8 ) Research and development (2 ) 68 (79 ) 135 Sales and marketing 50 55 68 95 General and administrative 762 137 1,028 395 $ 833 $ 260 $ 1,041 $ 617 |
Accounts Receivables, Contrac_2
Accounts Receivables, Contract Assets, and Contract Liabilities (Tables) | 6 Months Ended |
Jul. 31, 2021 | |
Receivables [Abstract] | |
Schedule of Accounts Receivable, Net and Unbilled Receivables | The following table summarizes our accounts receivable, net and unbilled receivables: As of July 31, As of January 31, 2021 2021 (Amounts in thousands) Accounts receivable, net $ 5,560 $ 6,050 Unbilled receivables, current 8,344 9,359 Unbilled receivables, long-term 6,079 6,340 $ 19,983 $ 21,749 |
Schedule of Unbilled Receivables Expected to be Billed in Future | Unbilled receivables are expected to be billed in the future as follows (amounts in thousands, except percentage amounts): As of July 31, 2021 Percentage 1 year or less $ 8,344 58 % 1-2 years 4,688 32 % 2-5 years 1,391 10 % Total unbilled receivables $ 14,423 100 % |
Schedule of Change in Deferred Revenue | Contract liabilities consist of deferred revenue and customer deposits that arise when amounts are billed to or collected from customers in advance of revenue recognition. Deferred revenue that will be recognized during the succeeding 12-month period is recorded as current deferred revenue and the remaining portion is recorded as deferred revenue, long-term. Deferred Revenue Current Long-Term (Amounts in thousands) Balance as of January 31, 2021 $ 4,737 $ 657 Decrease (604 ) (511 ) Balance as of July 31, 2021 $ 4,133 $ 146 |
Disaggregated Revenue and Geo_2
Disaggregated Revenue and Geographic Information (Tables) | 6 Months Ended |
Jul. 31, 2021 | |
Segment Reporting [Abstract] | |
Schedule of Revenue Disaggregation by Revenue Stream | The following table summarizes our revenue disaggregated by revenue stream: For the Three Months Ended July 31, For the Six Months Ended July 31, 2021 2020 2021 2020 (Amounts in thousands) (Amounts in thousands) Product revenue: Framework $ 1,034 $ 365 $ 2,050 $ 1,333 Online video platform and other 1,480 575 2,084 1,412 Hardware 195 126 195 1,419 Total product revenue 2,709 1,066 4,329 4,164 Service revenue: - - - - Maintenance and support 2,185 2,608 4,223 5,213 Framework and support services 1,317 978 2,256 1,909 Professional services and other 329 343 784 624 Total service revenue 3,831 3,929 7,263 7,746 Total revenue $ 6,540 $ 4,995 $ 11,592 $ 11,910 |
Schedule of Revenue from External Customers Attributed to Foreign Countries by Geographic Area | The following summarizes revenue by customers’ geographic locations: For the Three Months Ended July 31, For the Six Months Ended July 31, 2021 % 2020 % 2021 % 2020 % (Amounts in thousands, except percentages) (Amounts in thousands, except percentages) Revenue by customers' geographic locations: North America (1) $ 4,329 66% $ 2,318 46% $ 7,030 61% $ 5,896 50% Europe and Middle East 1,579 24% 2,150 43% 3,540 31% 4,132 35% Latin America 478 7% 343 7% 691 6% 1,476 12% Asia Pacific 154 2% 184 4% 331 3% 406 3% Total revenue $ 6,540 $ 4,995 $ 11,592 $ 11,910 (1) Includes total revenue for the United States for the periods shown as follows: For the Three Months Ended July 31, For the Six Months Ended July 31, 2021 2020 2021 2020 (Amounts in thousands, except percentages) (Amounts in thousands, except percentages) US Revenue $ 3,697 $ 1,662 $ 5,895 $ 4,005 % of total revenue 57 % 33 % 51 % 34 % |
Long-Lived Assets by Geographic Locations | The following summarizes long-lived assets by geographic locations: As of July 31, 2021 % As of January 31, 2021 % (Amounts in thousands, except percentages) Long-lived assets by geographic locations(1): North America $ 7,628 74% $ 10,864 79% Europe and Middle East 2,716 26% 2,819 21% Asia Pacific 31 0% 31 0% Total long-lived assets by geographic location $ 10,375 $ 13,714 (1) Excludes goodwill. |
Nature of Business and Basis _2
Nature of Business and Basis of Presentation - Additional Information (Detail) - USD ($) | 6 Months Ended | |
Jul. 31, 2021 | Jan. 31, 2021 | |
Significant Accounting Policies [Line Items] | ||
Common stock, shares issued | 49,212,173 | 37,811,224 |
Common stock, par value | $ 0.01 | $ 0.01 |
Proceeds from issuance of common stock, net of issuance costs | $ 17,462,000 | |
Promissory Note with Silicon Valley Bank [Member] | PPP [Member] | COVID-19 [Member] | ||
Significant Accounting Policies [Line Items] | ||
Aggregate principal amount of unsecured loan | 2,412,890 | |
Interest accrued | $ 27,145 | |
Debt instrument interest rate | 1.00% | |
Termination Agreement [Member] | ||
Significant Accounting Policies [Line Items] | ||
Common stock, shares issued | 10,323,484 | |
Common stock, par value | $ 0.01 | |
Share price | $ 1.85 | |
Proceeds from issuance of common stock, net of issuance costs | $ 17,500,000 | |
Percentage of underwriters discounts and commission | 6.50% | |
Share price of underwriters discounts and commission | $ 0.12025 | |
Offering Expenses | $ 200,000 | |
Underwriters purchase option period | 45 days | |
Sale of stock, number of shares issued in transaction | 1,548,522 |
Significant Accounting Polici_4
Significant Accounting Policies - Summary of Cash, Cash Equivalents, and Restricted Cash Total (Detail) - USD ($) $ in Thousands | Jul. 31, 2021 | Jan. 31, 2021 | Jul. 31, 2020 | Jan. 31, 2020 |
Accounting Policies [Abstract] | ||||
Cash and cash equivalents | $ 18,933 | $ 5,856 | ||
Restricted cash | 350 | 228 | ||
Total cash, cash equivalents and restricted cash | $ 19,283 | $ 6,084 | $ 7,655 | $ 9,297 |
Significant Accounting Polici_5
Significant Accounting Policies - Additional Information (Detail) | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
Jul. 31, 2021USD ($)Customer | Jul. 31, 2020Customer | Jul. 31, 2021USD ($)Customer | Jul. 31, 2020USD ($)Customer | Jan. 31, 2021USD ($)Customer | |
Significant Accounting Policies [Line Items] | |||||
Goodwill impairment | $ 0 | $ 0 | |||
Impairment costs | 0 | 0 | |||
Deferred capitalized commission costs | $ 431,000 | 431,000 | 553,000 | ||
Amortization expense | 123,000 | $ 218,000 | |||
COVID-19 [Member] | |||||
Significant Accounting Policies [Line Items] | |||||
Goodwill impairment | $ 0 | $ 0 | |||
Customer Concentration Risk [Member] | Total Revenue [Member] | |||||
Significant Accounting Policies [Line Items] | |||||
Number of customers accounted | Customer | 3 | 2 | 3 | 1 | |
Customer Concentration Risk [Member] | Total Revenue [Member] | Customer One [Member] | |||||
Significant Accounting Policies [Line Items] | |||||
Concentration risk percentage | 15.00% | 22.00% | 14.00% | 18.00% | |
Customer Concentration Risk [Member] | Total Revenue [Member] | Customer Two [Member] | |||||
Significant Accounting Policies [Line Items] | |||||
Concentration risk percentage | 15.00% | 11.00% | 10.00% | ||
Customer Concentration Risk [Member] | Total Revenue [Member] | Customer Three [Member] | |||||
Significant Accounting Policies [Line Items] | |||||
Concentration risk percentage | 12.00% | 10.00% | |||
Credit Concentration Risk [Member] | Accounts Receivable [Member] | |||||
Significant Accounting Policies [Line Items] | |||||
Number of customers accounted | Customer | 2 | 2 | |||
Credit Concentration Risk [Member] | Accounts Receivable [Member] | Customer One [Member] | |||||
Significant Accounting Policies [Line Items] | |||||
Concentration risk percentage | 14.00% | 18.00% | |||
Credit Concentration Risk [Member] | Accounts Receivable [Member] | Customer Two [Member] | |||||
Significant Accounting Policies [Line Items] | |||||
Concentration risk percentage | 11.00% | 16.00% |
Significant Accounting Polici_6
Significant Accounting Policies - Schedule of Dilutive Securities Included from Computation of Loss Per Share (Detail) shares in Thousands | 3 Months Ended |
Jul. 31, 2021shares | |
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items] | |
Weighted Average Number Diluted Shares Outstanding Adjustment | 238 |
Restricted Stock Units [Member] | |
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items] | |
Weighted Average Number Diluted Shares Outstanding Adjustment | 159 |
Deferred Stock Units [Member] | |
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items] | |
Weighted Average Number Diluted Shares Outstanding Adjustment | 79 |
Significant Accounting Polici_7
Significant Accounting Policies - Schedule of Anti-dilutive Securities Excluded from Computation of Loss Per Share (Detail) - shares shares in Thousands | 3 Months Ended | 6 Months Ended | ||
Jul. 31, 2021 | Jul. 31, 2020 | Jul. 31, 2021 | Jul. 31, 2020 | |
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items] | ||||
Anti-dilutive potentially outstanding common shares | 1,628 | 2,461 | 1,836 | 1,108 |
Stock Options [Member] | ||||
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items] | ||||
Anti-dilutive potentially outstanding common shares | 1,453 | 2,314 | 1,671 | 967 |
Restricted Stock Units [Member] | ||||
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items] | ||||
Anti-dilutive potentially outstanding common shares | 113 | 65 | 124 | 58 |
Deferred Stock Units [Member] | ||||
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items] | ||||
Anti-dilutive potentially outstanding common shares | 62 | 82 | 41 | 82 |
Fair Value Measurements - Addit
Fair Value Measurements - Additional Information (Detail) | Jul. 31, 2021USD ($) |
Fair Value, Inputs, Level 3 [Member] | |
Fair Value Measurements Disclosure [Line Items] | |
Fair value measurements of our financial assets | $ 0 |
Fair Value Measurements - Fair
Fair Value Measurements - Fair Value of Financial Assets Measured on Recurring Basis (Detail) - USD ($) $ in Thousands | Jul. 31, 2021 | Jan. 31, 2021 |
Marketable securities: | ||
Marketable securities | $ 252 | |
U.S. Treasury Notes and Bonds [Member] | ||
Marketable securities: | ||
Marketable securities | 252 | |
Fair Value, Measurements, Recurring [Member] | ||
Assets: | ||
Cash equivalents | $ 46 | 46 |
Total | 46 | 298 |
Fair Value, Measurements, Recurring [Member] | U.S. Treasury Notes and Bonds [Member] | ||
Marketable securities: | ||
Marketable securities | 252 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Assets: | ||
Cash equivalents | 46 | 46 |
Total | $ 46 | 298 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | U.S. Treasury Notes and Bonds [Member] | ||
Marketable securities: | ||
Marketable securities | $ 252 |
Fair Value Measurements - Summa
Fair Value Measurements - Summary of Marketable Securities by Security Type (Detail) $ in Thousands | Jan. 31, 2021USD ($) |
Schedule Of Available For Sale Securities [Line Items] | |
Amortized Cost | $ 249 |
Gross Unrealized Gains | 3 |
Fair Value | 252 |
U.S. Treasury Notes and Bonds [Member] | |
Schedule Of Available For Sale Securities [Line Items] | |
Amortized Cost | 249 |
Gross Unrealized Gains | 3 |
Fair Value | $ 252 |
Consolidated Balance Sheet De_3
Consolidated Balance Sheet Detail - Property and Equipment, Net (Detail) - USD ($) $ in Thousands | Jul. 31, 2021 | Jan. 31, 2021 |
Property Plant And Equipment [Line Items] | ||
Property and Equipment, Gross | $ 3,653 | $ 10,309 |
Less: Accumulated depreciation and amortization | (3,155) | (9,704) |
Total property and equipment, net | 498 | 605 |
Computer Equipment, Software and Demonstration Equipment [Member] | ||
Property Plant And Equipment [Line Items] | ||
Property and Equipment, Gross | 3,223 | 9,765 |
Office Furniture and Equipment [Member] | ||
Property Plant And Equipment [Line Items] | ||
Property and Equipment, Gross | 279 | 306 |
Leasehold Improvements [Member] | ||
Property Plant And Equipment [Line Items] | ||
Property and Equipment, Gross | $ 151 | $ 238 |
Consolidated Balance Sheet De_4
Consolidated Balance Sheet Detail - Additional Information (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jul. 31, 2021 | Jul. 31, 2020 | Jul. 31, 2021 | Jul. 31, 2020 | |
Disclosure Consolidated Balance Sheet Detail Additional Information Detail [Abstract] | ||||
Depreciation expense | $ 43 | $ 70 | $ 103 | $ 142 |
Consolidated Balance Sheet De_5
Consolidated Balance Sheet Detail - Accrued Expenses (Detail) - USD ($) $ in Thousands | Jul. 31, 2021 | Jan. 31, 2021 |
Balance Sheet Related Disclosures [Abstract] | ||
Accrued employee compensation and benefits | $ 1,094 | $ 742 |
Accrued professional fees | 187 | 575 |
Sales tax and VAT payable | 48 | 271 |
Current obligation - right of use operating leases | 835 | 1,387 |
Accrued other | 1,499 | 1,302 |
Total accrued expenses | $ 3,663 | $ 4,277 |
Goodwill and Intangible Asset_2
Goodwill and Intangible Assets - Additional Information (Detail) - USD ($) | 6 Months Ended | 12 Months Ended |
Jul. 31, 2021 | Jan. 31, 2021 | |
Goodwill And Intangible Assets Disclosure [Abstract] | ||
Goodwill impairment | $ 0 | $ 0 |
Future estimated amortization expense | $ 622,000 | $ 1,272,000 |
Goodwill and Intangible Asset_3
Goodwill and Intangible Assets - Schedule of Change in Carrying Amount of Goodwill (Detail) $ in Thousands | 6 Months Ended |
Jul. 31, 2021USD ($) | |
Goodwill And Intangible Assets Disclosure [Abstract] | |
Goodwill, beginning balance | $ 10,577 |
Translation adjustment | (184) |
Goodwill, ending balance | $ 10,393 |
Goodwill and Intangible Asset_4
Goodwill and Intangible Assets - Schedule of Intangible Assets (Detail) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jul. 31, 2021 | Jan. 31, 2021 | |
Finite Lived Intangible Assets [Line Items] | ||
Finite-lived intangible assets, Gross | $ 3,569 | $ 3,569 |
Accumulated Amortization | (3,015) | (2,379) |
Cumulative Translation Adjustment | 68 | 82 |
Intangible assets, net | 622 | 1,272 |
Acquired customer contracts | ||
Finite Lived Intangible Assets [Line Items] | ||
Finite-lived intangible assets, Gross | 2,205 | 2,205 |
Accumulated Amortization | (1,861) | (1,469) |
Cumulative Translation Adjustment | 40 | 49 |
Intangible assets, net | 384 | 785 |
Acquired existing technology | ||
Finite Lived Intangible Assets [Line Items] | ||
Finite-lived intangible assets, Gross | 1,364 | 1,364 |
Accumulated Amortization | (1,154) | (910) |
Cumulative Translation Adjustment | 28 | 33 |
Intangible assets, net | $ 238 | $ 487 |
Goodwill and Intangible Asset_5
Goodwill and Intangible Assets - Schedule of Finite-Life Intangible Assets, Amortization Expense (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jul. 31, 2021 | Jul. 31, 2020 | Jul. 31, 2021 | Jul. 31, 2020 | |
Goodwill And Intangible Assets [Line Items] | ||||
Amortization expense | $ 316 | $ 299 | $ 632 | $ 583 |
Selling and Marketing [Member] | ||||
Goodwill And Intangible Assets [Line Items] | ||||
Amortization expense | 195 | 366 | 390 | 366 |
Research and Development [Member] | ||||
Goodwill And Intangible Assets [Line Items] | ||||
Amortization expense | $ 121 | $ (67) | $ 242 | $ 217 |
Operating Leases - Schedule of
Operating Leases - Schedule of Components of Lease Expense (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended |
Jul. 31, 2021 | Jul. 31, 2021 | |
Leases [Abstract] | ||
Operating lease cost | $ 178 | $ 461 |
Short term lease cost, net | 4 | 8 |
Total lease cost | $ 182 | $ 469 |
Operating Leases - Schedule o_2
Operating Leases - Schedule of Supplemental Cash Flow Information Related to Operating Leases (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jul. 31, 2021 | Jul. 31, 2020 | Jul. 31, 2021 | Jul. 31, 2020 | |
Cash paid for amounts included in the measurement of lease liabilities | ||||
Operating cash flows from operating leases | $ 223 | $ 244 | $ 733 | $ 566 |
Operating Leases - Schedule o_3
Operating Leases - Schedule of Supplemental Balance Sheet Information Related to Operating Leases (Detail) - USD ($) $ in Thousands | Jul. 31, 2021 | Jan. 31, 2021 |
Leases [Abstract] | ||
Operating lease right-of-use assets | $ 2,504 | $ 4,968 |
Current portion, operating lease liabilities | 835 | 1,387 |
Operating lease liabilities | 1,797 | 4,070 |
Total operating lease liabilities | $ 2,632 | $ 5,457 |
Weighted average remaining lease term (years) | 3 years 4 months 24 days | 4 years |
Weighted average incremental borrowing rate | 5.00% | 5.00% |
Operating Leases - Schedule o_4
Operating Leases - Schedule of Future Minimum Lease Payments for Operating Leases (Detail) - USD ($) $ in Thousands | Jul. 31, 2021 | Jan. 31, 2021 |
Leases [Abstract] | ||
2022 | $ 435 | |
2023 | 809 | |
2024 | 798 | |
2025 | 823 | |
Total lease payments | 2,865 | |
Less interest | 233 | |
Total operating lease liabilities | $ 2,632 | $ 5,457 |
Operating Leases - Additional I
Operating Leases - Additional Information (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |
Jul. 31, 2020 | Jul. 31, 2021 | Jul. 31, 2020 | |
Significant Accounting Policies [Line Items] | |||
Net gain (loss) on termination of lease | $ 328 | ||
Termination Agreement [Member] | |||
Significant Accounting Policies [Line Items] | |||
Termination payment made | $ 100 | $ 400 | |
Non cash gain on operating lease | 300 | ||
Net gain (loss) on termination of lease | $ (100) | ||
Sublease expiration date | 2025-02 |
Severance and Restructuring C_3
Severance and Restructuring Costs - Additional Information (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jul. 31, 2021 | Jul. 31, 2020 | Jul. 31, 2021 | Jul. 31, 2020 | |
Restructuring Cost and Reserve [Line Items] | ||||
Severance and restructuring costs | $ 87 | $ 543 | $ 571 | $ 1,029 |
Employee-Related Benefits [Member] | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Severance costs | 100 | 200 | ||
Severance and restructuring costs | $ 100 | $ 400 |
Severance and Restructuring C_4
Severance and Restructuring Costs - Activity in Accrued Restructuring Liability (Detail) $ in Thousands | 6 Months Ended |
Jul. 31, 2021USD ($) | |
Restructuring Cost and Reserve [Line Items] | |
Restructuring charges incurred | $ 610 |
Cash payments | (578) |
Accrual balance at the ending of the period | 32 |
Employee-Related Benefits [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Restructuring charges incurred | 147 |
Cash payments | (115) |
Accrual balance at the ending of the period | 32 |
Closure of Leased Facilities [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Restructuring charges incurred | 463 |
Cash payments | $ (463) |
Stock-Based Compensation Expe_3
Stock-Based Compensation Expense - Additional Information (Detail) $ in Millions | 6 Months Ended |
Jul. 31, 2021USD ($)shares | |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |
Share-based awards fair value | $ | $ 2.6 |
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 | $ | $ 0.1 |
Share based compensation arrangement by share based payment award expected weighted average recognition period | 8 months 12 days |
Stock Options [Member] | |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |
Options granted | 1,080,000 |
Cancelled option awards | 1,320,335 |
Employee service share-based compensation, nonvested awards, total compensation cost not yet recognized | $ | $ 0.6 |
Share based compensation arrangement by share based payment award expected weighted average recognition period | 1 year 10 months 24 days |
Restricted Stock Units [Member] | |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |
Awards granted | 1,049,088 |
Stock options and restricted stock units cancelled | 171,308 |
Restricted 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 | $ | $ 0.6 |
Share based compensation arrangement by share based payment award expected weighted average recognition period | 1 year 6 months |
Performance Stock Unit [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 | $ | $ 0.1 |
Share based compensation arrangement by share based payment award expected weighted average recognition period | 1 year 3 months 18 days |
2011 Compensation and Incentive Plan [Member] | Stock Compensation Plan | Board of Directions | |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |
Share-based compensation arrangement by share-based payment award, number of shares authorized | 4,896,878 |
Share-based compensation arrangement by share-based payment award, number of shares purchased for award | 2,396,878 |
Share-based compensation arrangement by share-based payment award, number of shares available for grant | 2,350,000 |
2011 Compensation and Incentive Plan [Member] | Deferred Stock Units [Member] | |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |
Share-based compensation arrangement by Share-based payment award, vesting period | 1 year |
Compensation And Incentive Plan 2021 [Member] | |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |
Share-based compensation arrangement by share-based payment award, Description | Option awards may be granted 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 and not less than 110% of the fair market value per common share on the date of the grant with respect to ISOs granted to employees owning stock possessing more than 10% of the total combined voting power of all classes of stock of the Company. |
Share-based compensation arrangement by share based payment award, Option award expiration period | 10 years |
Compensation And Incentive Plan 2021 [Member] | Minimum [Member] | |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |
Share-based compensation arrangement by Share-based payment award, vesting period | 1 year |
Share-based compensation arrangement by share-based payment award, purchase price of common stock, percent | 100.00% |
Compensation And Incentive Plan 2021 [Member] | Maximum [Member] | |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |
Share-based compensation arrangement by Share-based payment award, vesting period | 3 years |
Compensation And Incentive Plan 2021 [Member] | ISO [Member] | |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |
Combined voting power limit | 10% |
Compensation And Incentive Plan 2021 [Member] | ISO [Member] | Minimum [Member] | |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |
Share-based compensation arrangement by share-based payment award, purchase price of common stock, percent | 110% |
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, number of shares available for grant | 1,075,024 |
Share-based compensation arrangement by share-based payment award, Description | On each purchase date, eligible employees can 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. |
Discount percentage from market price of stock | 85.00% |
Shares purchased under ESPP | 5,702 |
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 |
Stock-Based Compensation Expe_4
Stock-Based Compensation Expense - Summary of Stock Based Compensation Expense Recognized (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jul. 31, 2021 | Jul. 31, 2020 | Jul. 31, 2021 | Jul. 31, 2020 | |
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items] | ||||
Stock-based compensation expense | $ 833 | $ 260 | $ 1,041 | $ 617 |
Cost of Revenue [Member] | ||||
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items] | ||||
Stock-based compensation expense | 23 | 24 | (8) | |
Research and Development [Member] | ||||
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items] | ||||
Stock-based compensation expense | (2) | 68 | (79) | 135 |
Sales and Marketing [Member] | ||||
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items] | ||||
Stock-based compensation expense | 50 | 55 | 68 | 95 |
General and Administrative [Member] | ||||
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items] | ||||
Stock-based compensation expense | $ 762 | $ 137 | $ 1,028 | $ 395 |
Accounts Receivables, Contrac_3
Accounts Receivables, Contract Assets, and Contract Liabilities - Schedule of Accounts Receivable, Net and Unbilled Receivables (Detail) - USD ($) $ in Thousands | Jul. 31, 2021 | Jan. 31, 2021 |
Receivables [Abstract] | ||
Accounts receivable, net | $ 5,560 | $ 6,050 |
Unbilled receivables | 8,344 | 9,359 |
Unbilled receivables | 6,079 | 6,340 |
Total, Balance | $ 19,983 | $ 21,749 |
Accounts Receivables, Contrac_4
Accounts Receivables, Contract Assets, and Contract Liabilities - Schedule of Unbilled Receivables Expected to be Billed in Future (Detail) $ in Thousands | Jul. 31, 2021USD ($) |
Accounts Notes And Loans Receivable [Line Items] | |
Unbilled receivables, amount | $ 14,423 |
Unbilled receivables,percentage | 100.00% |
1 year or less [Member] | |
Accounts Notes And Loans Receivable [Line Items] | |
Unbilled receivables, amount | $ 8,344 |
Unbilled receivables,percentage | 58.00% |
1-2 years [Member] | |
Accounts Notes And Loans Receivable [Line Items] | |
Unbilled receivables, amount | $ 4,688 |
Unbilled receivables,percentage | 32.00% |
2-5 years [Member] | |
Accounts Notes And Loans Receivable [Line Items] | |
Unbilled receivables, amount | $ 1,391 |
Unbilled receivables,percentage | 10.00% |
Accounts Receivables, Contrac_5
Accounts Receivables, Contract Assets, and Contract Liabilities - Schedule of Changes in Deferred Revenue (Detail) - USD ($) $ in Thousands | 6 Months Ended | |
Jul. 31, 2021 | Jan. 31, 2021 | |
Deferred Revenue, Current [Member] | ||
Accounts Notes And Loans Receivable [Line Items] | ||
Balance | $ 4,133 | $ 4,737 |
Decrease | (604) | |
Deferred Revenue, Long-Term [Member] | ||
Accounts Notes And Loans Receivable [Line Items] | ||
Balance | 146 | $ 657 |
Decrease | $ (511) |
Accounts Receivables, Contrac_6
Accounts Receivables, Contract Assets, and Contract Liabilities - Additional information - (Detail) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jul. 31, 2022 | Jul. 31, 2022 | Jul. 31, 2021 | Apr. 30, 2021 | |
Transaction price allocated to performance obligations | $ 26.4 | $ 7.6 | ||
Forecast | ||||
Deferred revenue, recognized | $ 1.3 | $ 3 |
Disaggregated Revenue and Geo_3
Disaggregated Revenue and Geographic Information - Schedule of Revenue Disaggregation by Revenue Stream (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jul. 31, 2021 | Jul. 31, 2020 | Jul. 31, 2021 | Jul. 31, 2020 | |
Disaggregation Of Revenue [Line Items] | ||||
Total revenue | $ 6,540 | $ 4,995 | $ 11,592 | $ 11,910 |
Framework [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Total revenue | 1,034 | 365 | 2,050 | 1,333 |
Online Video Platform and Other [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Total revenue | 1,480 | 575 | 2,084 | 1,412 |
Hardware [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Total revenue | 195 | 126 | 195 | 1,419 |
Product [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Total revenue | 2,709 | 1,066 | 4,329 | 4,164 |
Maintenance and Support [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Total revenue | 2,185 | 2,608 | 4,223 | 5,213 |
Framework and Support Services [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Total revenue | 1,317 | 978 | 2,256 | 1,909 |
Professional Services and Other [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Total revenue | 329 | 343 | 784 | 624 |
Service [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Total revenue | $ 3,831 | $ 3,929 | $ 7,263 | $ 7,746 |
Disaggregated Revenue and Geo_4
Disaggregated Revenue and Geographic Information - Schedule of Revenue from External Customers Attributed to Foreign Countries by Geographic Area (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jul. 31, 2021 | Jul. 31, 2020 | Jul. 31, 2021 | Jul. 31, 2020 | |
Segment Reporting Information [Line Items] | ||||
Total revenue | $ 6,540 | $ 4,995 | $ 11,592 | $ 11,910 |
North America [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Total revenue | $ 4,329 | $ 2,318 | $ 7,030 | $ 5,896 |
North America [Member] | Customer Concentration Risk [Member] | Total Revenue [Member] | ||||
Segment Reporting Information [Line Items] | ||||
% of total revenues | 66.00% | 46.00% | 61.00% | 50.00% |
Europe and Middle East [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Total revenue | $ 1,579 | $ 2,150 | $ 3,540 | $ 4,132 |
Europe and Middle East [Member] | Customer Concentration Risk [Member] | Total Revenue [Member] | ||||
Segment Reporting Information [Line Items] | ||||
% of total revenues | 24.00% | 43.00% | 31.00% | 35.00% |
Latin America [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Total revenue | $ 478 | $ 343 | $ 691 | $ 1,476 |
Latin America [Member] | Customer Concentration Risk [Member] | Total Revenue [Member] | ||||
Segment Reporting Information [Line Items] | ||||
% of total revenues | 7.00% | 7.00% | 6.00% | 12.00% |
Asia Pacific [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Total revenue | $ 154 | $ 184 | $ 331 | $ 406 |
Asia Pacific [Member] | Customer Concentration Risk [Member] | Total Revenue [Member] | ||||
Segment Reporting Information [Line Items] | ||||
% of total revenues | 2.00% | 4.00% | 3.00% | 3.00% |
Disaggregated Revenue and Geo_5
Disaggregated Revenue and Geographic Information - Schedule of Revenue from External Customers Attributed to Foreign Countries by Geographic Area (Parenthetical) (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jul. 31, 2021 | Jul. 31, 2020 | Jul. 31, 2021 | Jul. 31, 2020 | |
Segment Reporting Information [Line Items] | ||||
Total revenues | $ 6,540 | $ 4,995 | $ 11,592 | $ 11,910 |
United States Revenue [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Total revenues | $ 3,697 | $ 1,662 | $ 5,895 | $ 4,005 |
Total Revenue [Member] | Customer Concentration Risk [Member] | United States Revenue [Member] | ||||
Segment Reporting Information [Line Items] | ||||
% of total revenue | 57.00% | 33.00% | 51.00% | 34.00% |
Disaggregated Revenue and Geo_6
Disaggregated Revenue and Geographic Information - Long-Lived Assets by Geographic Locations (Detail) - USD ($) $ in Thousands | Jul. 31, 2021 | Jan. 31, 2021 |
Revenues from External Customers and Long-Lived Assets [Line Items] | ||
Total long-lived assets by geographic location | $ 10,375 | $ 13,714 |
North America [Member] | ||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||
Total long-lived assets by geographic location | $ 7,628 | $ 10,864 |
Long-lived assets, Percentage | 74.00% | 79.00% |
Europe and Middle East [Member] | ||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||
Total long-lived assets by geographic location | $ 2,716 | $ 2,819 |
Long-lived assets, Percentage | 26.00% | 21.00% |
Asia Pacific [Member] | ||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||
Total long-lived assets by geographic location | $ 31 | $ 31 |
Long-lived assets, Percentage | 0.00% | 0.00% |
Income Taxes - Additional Infor
Income Taxes - Additional Information (Detail) - USD ($) $ in Thousands | Mar. 04, 2019 | Jul. 31, 2021 | Apr. 30, 2021 | Jul. 31, 2020 | Jul. 31, 2021 | Jul. 31, 2020 |
Income Taxes Disclosure [Line Items] | ||||||
Income tax benefit due to reversal of tax reserves | $ 200 | |||||
Income tax benefit | $ 83 | $ 45 | 49 | $ 66 | ||
Preferred shares purchase rights, declared date as dividend | Mar. 4, 2019 | |||||
Preferred shares purchase rights for each common stock | 1 | |||||
Preferred shares purchase rights, record date as dividend | Mar. 15, 2019 | |||||
Tax benefits preservation plan expiration date | Mar. 4, 2022 | |||||
Maximum [Member] | ||||||
Income Taxes Disclosure [Line Items] | ||||||
Income tax benefit | $ 100 | $ 100 | $ 100 | $ 100 |