Cover
Cover - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Feb. 18, 2021 | Jun. 30, 2020 | |
Cover [Abstract] | |||
Document Type | 10-K | ||
Document Annual Report | true | ||
Document Period End Date | Dec. 31, 2020 | ||
Current Fiscal Year End Date | --12-31 | ||
Document Transition Report | false | ||
Entity File Number | 001-35108 | ||
Entity Registrant Name | SERVICESOURCE INTERNATIONAL, INC. | ||
Entity Incorporation, State or Country Code | DE | ||
Entity Tax Identification Number | 81-0578975 | ||
Entity Address, Address Line One | 707 17th Street, 25th Floor | ||
Entity Address, City or Town | Denver, | ||
Entity Address, State or Province | CO | ||
Entity Address, Postal Zip Code | 80202 | ||
City Area Code | 720 | ||
Local Phone Number | 889-8500 | ||
Title of 12(b) Security | Common Stock, $0.0001 Par Value | ||
Trading Symbol | SREV | ||
Security Exchange Name | NASDAQ | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Interactive Data Current | Yes | ||
Entity Filer Category | Accelerated Filer | ||
Entity Small Business | true | ||
Entity Emerging Growth Company | false | ||
ICFR Auditor Attestation Flag | true | ||
Entity Shell Company | false | ||
Entity Public Float | $ 83.6 | ||
Entity Common Stock, Shares Outstanding | 97,263,099 | ||
Documents Incorporated by Reference | Portions of the registrant’s definitive proxy statement for its 2021 annual meeting of stockholders are incorporated by reference in Part III of this annual report on Form 10-K. Such proxy statement will be filed with the U.S. Securities and Exchange Commission within 120 days after the end of the fiscal year to which this report relates. Except with respect to information specifically incorporated by reference in this Form 10-K, the proxy statement is not deemed to be filed as part of this Form 10-K. | ||
Amendment Flag | false | ||
Document Fiscal Year Focus | 2020 | ||
Document Fiscal Period Focus | FY | ||
Entity Central Index Key | 0001310114 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Current assets: | ||
Cash and cash equivalents | $ 34,006 | $ 27,089 |
Accounts receivable, net | 38,890 | 41,754 |
Prepaid expenses and other | 9,275 | 7,296 |
Total current assets | 82,171 | 76,139 |
Property and equipment, net | 29,948 | 36,149 |
ROU assets | 29,798 | 36,396 |
Contract acquisition costs | 872 | 1,602 |
Goodwill | 6,334 | 6,334 |
Other assets | 3,490 | 4,844 |
Total assets | 152,613 | 161,464 |
Current liabilities: | ||
Accounts payable | 1,204 | 4,392 |
Accrued expenses | 3,217 | 3,366 |
Accrued compensation and benefits | 18,342 | 16,700 |
Revolver | 15,000 | 0 |
Operating lease liabilities | 10,797 | 9,652 |
Other current liabilities | 1,209 | 2,218 |
Total current liabilities | 49,769 | 36,328 |
Operating lease liabilities, net of current portion | 25,975 | 33,716 |
Other long-term liabilities | 1,593 | 2,983 |
Total liabilities | 77,337 | 73,027 |
Commitments and Contingencies | ||
Stockholders’ equity: | ||
Preferred stock, $0.0001 par value; 20,000 shares authorized and none issued and outstanding | 0 | 0 |
Common stock; $0.0001 par value; 1,000,000 shares authorized; 97,248 shares issued and 97,127 shares outstanding as of December 31, 2020; 94,972 shares issued and 94,851 shares outstanding as of December 31, 2019 | 10 | 9 |
Treasury stock | (441) | (441) |
Additional paid-in capital | 379,696 | 374,525 |
Accumulated deficit | (304,607) | (286,066) |
Accumulated other comprehensive income | 618 | 410 |
Total stockholders’ equity | 75,276 | 88,437 |
Total liabilities and stockholders’ equity | $ 152,613 | $ 161,464 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - $ / shares | Dec. 31, 2020 | Dec. 31, 2019 |
Statement of Financial Position [Abstract] | ||
Preferred stock, par value (in dollars per share) | $ 0.0001 | $ 0.0001 |
Preferred stock, shares authorized (in shares) | 20,000,000 | 20,000,000 |
Preferred stock, shares issued (in shares) | 0 | 0 |
Preferred stock, shares outstanding (in shares) | 0 | 0 |
Common stock, par value (in dollars per share) | $ 0.0001 | $ 0.0001 |
Common stock, shares authorized (in shares) | 1,000,000,000 | 1,000,000,000 |
Common stock, shares issued (in shares) | 97,248,000 | 94,972,000 |
Common stock, shares outstanding (in shares) | 97,127,000 | 94,851,000 |
Consolidated Statements of Oper
Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Income Statement [Abstract] | ||
Net revenue | $ 194,601 | $ 216,135 |
Cost of revenue | 137,041 | 153,155 |
Gross profit | 57,560 | 62,980 |
Operating expenses: | ||
Sales and marketing | 24,999 | 30,009 |
Research and development | 5,602 | 4,848 |
General and administrative | 41,970 | 43,208 |
Restructuring and other related costs | 1,542 | 1,929 |
Total operating expenses | 74,113 | 79,994 |
Loss from operations | (16,553) | (17,014) |
Interest and other expense, net | (1,279) | (1,226) |
Loss before provision for income taxes | (17,832) | (18,240) |
Provision for income tax expense | (709) | (443) |
Net loss | $ (18,541) | $ (18,683) |
Net loss per common share: | ||
Basic and diluted (in dollars per share) | $ (0.19) | $ (0.20) |
Weighted-average common shares outstanding: | ||
Basic and diluted (in shares) | 95,787 | 93,882 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Statement of Comprehensive Income [Abstract] | ||
Net loss | $ (18,541) | $ (18,683) |
Other comprehensive income | ||
Foreign currency translation adjustments | 208 | 8 |
Other comprehensive income | 208 | 8 |
Comprehensive loss | $ (18,333) | $ (18,675) |
Consolidated Statements of Stoc
Consolidated Statements of Stockholders' Equity - USD ($) shares in Thousands, $ in Thousands | Total | Common Stock | Treasury Shares/Stock | Additional Paid-in Capital | Accumulated Deficit | Accumulated Other Comprehensive Income |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Beginning Balance (in shares) | 92,895 | (121) | ||||
Ending Balance (in shares) | 92,895 | (121) | ||||
Beginning Balance at Dec. 31, 2018 | $ 101,833 | $ 9 | $ (441) | $ 369,246 | $ (267,383) | $ 402 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Net loss | (18,683) | (18,683) | ||||
Other comprehensive income (loss) | 8 | 8 | ||||
Stock-based compensation | 5,238 | 5,238 | ||||
Issuance of common stock, RSUs (in shares) | 1,814 | |||||
Proceeds from the exercise of stock options and ESPP (in shares) | 263 | |||||
Proceeds from the exercise of stock options and ESPP | 223 | 223 | ||||
Net cash paid for payroll taxes on RSU releases | (182) | (182) | ||||
Ending Balance at Dec. 31, 2019 | 88,437 | $ 9 | $ (441) | 374,525 | (286,066) | 410 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Beginning Balance (in shares) | 94,972 | (121) | ||||
Ending Balance (in shares) | 94,972 | (121) | ||||
Net loss | (18,541) | (18,541) | ||||
Other comprehensive income (loss) | 208 | 208 | ||||
Stock-based compensation | 4,919 | 4,919 | ||||
Issuance of common stock, RSUs (in shares) | 1,845 | |||||
Issuance of common stock, RSUs | 0 | $ 1 | (1) | |||
Proceeds from the exercise of stock options and ESPP (in shares) | 431 | |||||
Proceeds from the exercise of stock options and ESPP | 414 | 414 | ||||
Net cash paid for payroll taxes on RSU releases | (161) | (161) | ||||
Ending Balance at Dec. 31, 2020 | $ 75,276 | $ 10 | $ (441) | $ 379,696 | $ (304,607) | $ 618 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Beginning Balance (in shares) | 97,248 | (121) | ||||
Ending Balance (in shares) | 97,248 | (121) |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Cash flows from operating activities: | ||
Net loss | $ (18,541) | $ (18,683) |
Adjustments to reconcile net loss to net cash provided by operating activities: | ||
Depreciation and amortization | 13,925 | 13,449 |
Amortization of contract acquisition costs | 1,003 | 1,504 |
Amortization of ROU assets | 9,841 | 9,715 |
Stock-based compensation | 4,865 | 5,162 |
Restructuring and other related costs | 1,460 | 1,866 |
Other | 71 | (168) |
Net changes in operating assets and liabilities: | ||
Accounts receivable, net | 3,232 | 12,449 |
Prepaid expenses and other assets | (82) | (1,558) |
Contract acquisition costs | (266) | (442) |
Accounts payable | (3,213) | 2,441 |
Accrued compensation and benefits | (97) | (646) |
Operating lease liabilities | (10,195) | (8,678) |
Accrued expenses | (107) | (102) |
Other liabilities | (1,495) | (3,864) |
Net cash provided by operating activities | 401 | 12,445 |
Cash flows from investing activities: | ||
Purchases of property and equipment | (7,855) | (10,106) |
Net cash used in investing activities | (7,855) | (10,106) |
Cash flows from financing activities: | ||
Repayment on finance lease obligations | (952) | (900) |
Proceeds from Revolver | 27,000 | 0 |
Repayment of Revolver | (12,000) | 0 |
Proceeds from issuance of common stock | 414 | 223 |
Payments related to minimum tax withholdings on RSU releases | (161) | (182) |
Net cash provided by (used in) financing activities | 14,301 | (859) |
Effect of exchange rate changes on cash and cash equivalents and restricted cash | 96 | 124 |
Net change in cash and cash equivalents and restricted cash | 6,943 | 1,604 |
Cash and cash equivalents and restricted cash, beginning of period | 29,383 | 27,779 |
Cash and cash equivalents and restricted cash, end of period | 36,326 | 29,383 |
Supplemental disclosures of cash flow information: | ||
Cash paid for interest | 517 | 264 |
Income taxes paid, net | 448 | 166 |
Supplemental disclosures of non-cash activities: | ||
Purchases of property and equipment accrued in accounts payable and accrued expenses | 8 | 8 |
ROU assets obtained in exchange for new lease liabilities | 2,271 | 20,038 |
ASU 2016-02 | ||
Supplemental disclosures of non-cash activities: | ||
Increase in operating lease liabilities related to the adoption of ASC 842 | 0 | 32,104 |
Increase in ROU assets related to the adoption of ASC 842 | 0 | 29,526 |
Decrease in prepaids and other assets related to the adoption of ASC 842 | 0 | (749) |
Decrease in other liabilities related to the adoption of ASC 842 | $ 0 | $ (3,327) |
The Company
The Company | 12 Months Ended |
Dec. 31, 2020 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
The Company | The Company ServiceSource is a leading provider of BPaaS solutions that enable the transformation of go-to-market organizations and functions for global technology clients. We design, deploy, and operate a suite of innovative solutions and complex processes that support and augment our clients’ B2B customer acquisition, engagement, expansion and retention activities. Our clients - ranging from Fortune 500 technology titans to high-growth disruptors and innovators - rely on our holistic customer engagement methodology and process excellence, global scale and delivery footprint, and data analytics and business insights to deliver trusted business outcomes that have a meaningful and material positive impact to their long-term revenue and profitability objectives. Through our unique integration of people, process and technology - leveraged against our more than 20 years of experience and domain expertise in the cloud, software, hardware, medical device and diagnostic equipment, and industrial IoT sectors - we effect and transact billions of dollars of B2B commerce in more than 175 countries on our clients’ behalf annually. “ServiceSource,” “the Company,” “we,” “us,” or “our”, as used herein, refer to ServiceSource International, Inc. and its wholly owned subsidiaries, unless the context indicates otherwise. For a summary of commonly used industry terms and abbreviations used in this annual report on Form 10-K, see the Glossary of Terms. |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2020 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | Summary of Significant Accounting Policies Basis of Presentation The accompanying Consolidated Financial Statements include the accounts of ServiceSource International, Inc. and its wholly owned subsidiaries and have been prepared in accordance with GAAP and with the instructions to Form 10-K. All intercompany balances and transactions have been eliminated in consolidation. The CEO manages and allocates resources on a company-wide basis as a single segment that is focused on service offerings which integrate data, processes and cloud technologies. Use of Estimates The preparation of the Consolidated Financial Statements in accordance with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the Consolidated Financial Statements and the reported amount of net revenue and expenses during the reporting period. The Company bases its estimates and judgments on historical experience and on various assumptions that it believes are reasonable under the circumstances. The Company has considered the effects of the COVID-19 pandemic in determining its estimates. However, future events are difficult to predict and subject to change, especially with the risks and uncertainties related to the impact of the COVID-19 pandemic, which could cause estimates and judgments to require adjustment. Actual results and outcomes may differ from our estimate s. Reclassifications Certain items on the Consolidated Statements of Cash Flows for the year ended December 31, 2019 have been reclassified to conform to the current year presentation. These reclassifications did not affect the Consolidated Balance Sheet, Consolidated Statements of Operations, Consolidated Statements of Comprehensive Loss or Consolidated Statements of Stockholders' Equity. Significant Risks and Uncertainties Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash and cash equivalents and accounts receivable. The Company is also exposed to market risks, including the effects of changes in foreign currency exchange rates and interest rates. Cash is maintained in demand deposit accounts at U.S., European and Asian financial institutions that management believes are credit worthy. Deposits in these institutions may exceed the amount of insurance provided on these deposits. Fair Value of Financial Instruments The Company accounts for certain assets and liabilities at fair value. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value guidance establishes a hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. An asset or liability’s level is based upon the lowest level of input that is significant to the fair value measurement. The guidance requires that assets and liabilities carried at fair value be classified and disclosed in one of the following three categories: Level 1: Quoted prices in active markets for identical assets or liabilities; Level 2: Inputs other than quoted prices included within Level 1 that are either directly or indirectly observable; Level 3: Inputs that are generally unobservable and typically reflect management's estimates or assumptions that market participants would use in pricing the asset or liability. The carrying amount of financial instruments including cash and cash equivalents, restricted cash, accounts receivable, accounts payable, accrued expenses and other current liabilities approximate their fair value due to their short-term maturities. Cash Equivalents and Restricted Cash Cash equivalents consist of highly liquid investments with original maturities of three months or less at the time of purchase and are classified as a Level 1 investment. Restricted cash consists of cash in money market accounts that are used to secure letters of credit in connection with two of our leased facilities. Restricted cash is recorded within "Other assets" in the Consolidated Balance Sheets and is classified as a Level 1 investment. The Company had restricted cash of $2.3 million as of December 31, 2020 and 2019. Foreign Currency Translation and Remeasurement Assets and liabilities of non-U.S. subsidiaries that operate in a local currency environment, where that local currency is the functional currency, are translated to U.S. dollars at exchange rates at the balance sheet date. Net revenue and expenses are translated at monthly average exchange rates. The Company accumulates net translation adjustments in equity as a component of accumulated other comprehensive income. For non-U.S. subsidiaries whose functional currency is the U.S. dollar, transactions that are denominated in foreign currencies are remeasured in U.S. dollars, and any resulting gains and losses are reported in "Interest and other expense, net" in the Consolidated Statements of Operations. Foreign currency transaction losses were approximately $0.9 million and $0.7 million for the years ended December 31, 2020 and 2019, respectively. Accounts Receivable and Allowance for Doubtful Accounts Accounts receivable are derived from services performed for clients located primarily in the U.S., Europe and Asia. The Company attempts to mitigate the credit risk in its trade receivables through its ongoing credit evaluation process and historical collection experience. The Company performs a periodic review for specific aging evaluation allowance for doubtful accounts based upon the expected collectability of its accounts receivable, which takes into consideration an analysis of historical bad debts, customers' timeliness on payment and other available information. Accounts receivable are stated at their carrying values net of an allowance for doubtful accounts, if applicable. The Company evaluates the ongoing collectability of its accounts receivable based on a number of factors such as the credit quality of its clients, the age of accounts receivable balances, collections experience, current economic conditions and other factors that may affect a client’s ability to pay. In circumstances where the Company is aware of a specific client’s inability to meet its financial obligations to the Company, a specific allowance for doubtful accounts is estimated and recorded, which reduces the recognized receivable to the estimated amount that management believes will ultimately be collected. Account balances are charged off against the allowance when it is probable that the receivable will not be recovered. The allowance for doubtful accounts as of December 31, 2020 and 2019, and recoveries and reductions to revenue for the years ended December 31, 2020 and 2019, were insignificant. Property and Equipment The Company records property and equipment at cost, less accumulated depreciation and amortization. Depreciation is recorded using the straight-line method over the estimated useful lives for each asset class. When assets are disposed, the cost and related accumulated depreciation and amortization are written-off and any gain or loss on sale or disposal is reported in "General and administrative" expense in the Consolidated Statements of Operations. Lease Asset Retirement Obligations The fair value of a liability for an ARO is recognized in the period in which it is incurred. The Company’s AROs are associated with leasehold improvements at our international office locations, which, at the end of a lease, are contractually obligated to be removed. AROs were approximately $1.5 million and $1.4 million as of December 31, 2020 and 2019, respectively. Accretion expense was insignificant for the years ended December 31, 2020 and 2019. Capitalized Internal-Use Software Expenditures related to software developed or obtained for internal use are capitalized and amortized over a period of two Goodwill Impairment Goodwill represents the excess of the purchase price over the estimated fair market value of net identifiable assets of acquired businesses. The Company evaluates goodwill for possible impairment at least annually or whenever events or changes in circumstances indicate the carrying amount of such assets may not be recoverable. This evaluation includes a preliminary assessment of qualitative factors to determine whether it is necessary to compare the fair value of the reporting unit with its carrying value. If there are indicators of impairment, the fair value of the reporting unit is compared to its carrying value. If the carrying value of the reporting unit exceeds its fair value, an impairment loss equal to the difference is recorded. The carrying value of goodwill for the year ended December 31, 2020 and 2019 was $6.3 million. No impairment was recorded for the years ended December 31, 2020 and 2019. Impairment of Long-Lived Assets The Company evaluates the recoverability of its long-lived assets whenever events or changes in circumstances indicate the carrying amount of the long-lived asset may not be recoverable. Recoverability of these assets is measured by comparison of their carrying amounts to future undiscounted cash flows the assets are expected to generate. If the long-lived asset is impaired, an impairment is recognized for the amount by which the carrying value of the asset exceeds its fair value. No impairment was recorded for the years ended December 31, 2020 and 2019. Comprehensive Loss We report comprehensive loss in our Consolidated Statements of Comprehensive Loss. Amounts reported in “Accumulated other comprehensive income” consist of foreign currency translation adjustments from subsidiaries with a functional currency other than the U.S. dollar. Revenue Recognition The Company provides a comprehensive suite of selling and professional services to its clients. Selling services consists of sales earned from the following categories of selling motions: • Digital sales activities include demand qualification, demand conversion, and account management; • Customer success activities include onboarding, adoption, and renewals management; and • Channel management efforts include partner recruitment, partner onboarding and enablement, and partner success management. Professional services involve providing data integration at scale with our systems and processes, combined with client data enhancement, enablement and optimization. The Company derives all of its revenue from contracts with clients. Revenue is measured based on the consideration specified in a contract. The Company’s contracts generally contain one to two distinct performance obligations that are sold on a variable and/or fixed consideration basis. These two distinct performance obligations are identified as selling services and professional services. Selling services are generally invoiced on a monthly or quarterly basis with standard 30-day payment terms over the length of the contract, typically one The Company recognizes revenue when it satisfies the performance obligations identified in the contract, which is achieved through the transfer of control of the services to the client. The timing of satisfying performance obligations and the receipt of client consideration can be different and will give rise to contract assets and contract liabilities. Contract assets relate to the Company’s conditional rights to consideration for services provided but not yet billable at the reporting date. Accounts receivable balances reflected in the Consolidated Balance Sheet represent the Company’s unconditional rights to consideration for services provided. Contract asset amounts are transferred to accounts receivables when the rights become unconditional, typically in the same period control of services is transferred to the client and the amount is contractually billable. Contract liabilities primarily relate to the advance consideration received from clients for fixed consideration contracts where transfer of control of the services has not yet occurred. Contract liability balances generally convert to revenue upon either the satisfaction of professional services obligations or when services under fixed consideration contracts are transferred to the client, typically within six months of being recorded. These contract balances are reflected in "Prepaid expenses and other", "Other assets" and "Other current liabilities" in the Consolidated Balance Sheets. The Company accounts for individual services within a single contract separately if they are distinct. A service is distinct if it is separately identifiable from other services in the contract and if a client can benefit from the service on its own or with other resources that are readily available to the client. Determining whether these services are considered distinct performance obligations and qualify as a series of distinct performance obligations that represent a single performance obligation requires significant judgment. The total contract consideration, or transaction price, is allocated between the separate services identified in the contract based on their SSP. SSP is determined based on a cost-plus margin analysis for selling services and a standard hourly rate card for professional services. For professional services that are contractually priced differently from SSP, the Company estimates the SSP using a standard hourly rate card and allocates a portion of the total contract consideration to reflect professional services revenue at SSP. The Company’s performance obligations are satisfied over time and revenue is recognized based on monthly or quarterly time increments and the variable volume of closed bookings during the period at the contractual commission rates for selling services, or proportional performance during the period at SSP for professional services. Due to the continuous nature of providing services to our clients, judgment is required in determining when control of the services is transferred to the client. Because the client simultaneously receives and consumes the benefit of the Company’s selling and professional services as provided, the time increment output method depicts the measure of progress in transferring control of the services to the client. A significant portion of the Company’s contracts is based on a pay-for-performance model in which commission revenue is based on a volume of closed bookings each time period. At each reporting period, the Company makes an estimate of this revenue for amounts that have yet to be invoiced, which was $16.3 million and $16.6 million as of December 31, 2020 and 2019, respectively. These accrued revenue balances are reflected in "Accounts Receivable” in the Consolidated Balance Sheets. While multiple selling motions in a contract are performed at various times and patterns throughout the month or quarter and the number of closed bookings vary in any given period, each time increment of a service activity is substantially the same and has the same pattern of transfer to the client, and therefore, represents a series of distinct performance obligations that form a single performance obligation. As a result, the Company allocates all variable consideration in a contract to the selling services performance obligation in accordance with the variable consideration allocation exception provisions in ASC 606, (less amounts for which it is probable a significant reversal of revenue will occur when the uncertainties related to the variability are resolved) and applies a single measure of progress to record revenue in the period based on when the output of the variable number of closed bookings occurs or when the variable performance metric is achieved. Judgment is required to estimate the amount of variable consideration to include when estimating the total contract consideration and how to allocate the consideration if one of the distinct performance obligations is not sold at SSP. In addition, judgment is required to determine if the variable consideration should be constrained, and to what extent, until the risk of a significant revenue reversal is not probable. The Company applies the optional disclosure exemptions related to variable consideration and the requirement to disclose the remaining transaction price allocated to a wholly unsatisfied promise to transfer a distinct service that forms part of a single performance obligation. Significant estimates and judgments for revenue recognition include: (1) identifying and determining distinct performance obligations in contracts with clients, (2) determining the timing of the satisfaction of performance obligations, (3) estimating the timing and amount of variable consideration in a contract, (4) determining SSP for each performance obligations and the methodology to allocate the total contract consideration to the distinct performance obligations, and (5) determining and measuring variable revenue that has yet to be invoiced as of period end. Our revenue contracts often include promises to transfer services involving multiple selling motions to a client. Determining whether those services are considered distinct and qualify as a series of distinct services that represent a single performance obligation requires significant judgment. Also, due to the continuous nature of providing services to our clients, judgment is required in determining when control of the services is transferred to the client. We also enter into contracts with multiple performance obligations that incorporate fixed consideration, pay-for-performance commissions and variable bonus commissions. Judgment is required to estimate the amount of variable consideration to include when estimating the total contract consideration and how to allocate the consideration if one of the distinct performance obligations is not sold at SSP. Contract Acquisition Costs To obtain contracts with clients, the Company pays its sales team commissions partly based on the estimated value of the contract. Because these sales commissions are incurred and paid upon contract execution and would not have been incurred or payable otherwise, they are considered incremental costs to acquire the contract; and if recoverable, are capitalized as contract acquisition costs in the period the contract is executed. Capitalized sales commissions are amortized to “Sales and marketing" expense in the Consolidated Statements of Operations based on the transfer of services over the contract term, generally one Stock-Based Compensation The Company issues stock-based awards to employees and directors and offered an ESPP until its expiration in February 2021. Stock options are recorded at fair value on the date of grant date using the Black-Scholes option-pricing model and generally vest ratably over a three RSUs are recorded at fair value on the date of grant and amortized on a straight-line basis over the service period during which the stock vests. RSUs generally vest ratably over three PSUs are stock-based awards in which the number of shares ultimately received by the employee ranges from 0% to 150% of the participant's target award depending on the Company’s achievement of specified Adjusted EBITDA and net bookings targets. PSU expense is based on a fixed grant date fair value and adjusted based on the estimated achievement of the performance metrics and recognized on a straight-line basis over the vesting period. The Company estimates the fair value of purchase rights under the ESPP using the Black-Scholes option-pricing model and the straight-line attribution approach. The fair value of stock options and purchase rights under the ESPP was determined by the Company using the methods and assumptions discussed below. Each of these inputs is subjective and generally requires significant judgment to determine. Expected Term - The expected term represents the period that the Company’s share-based awards are expected to be outstanding. The Company calculates the expected term based on the average of the weighted-average vesting term and contractual term. Expected Volatility - The expected volatility is based on the historical stock volatility of the Company's own common shares. Risk-Free Interest Rate - The risk-free interest rate is based on the implied yield on U.S. Treasury zero-coupon issues for each option grant date with maturities approximately equal to the option’s contractual term. Expected Dividend Yield - The Company has not paid dividends on its common shares nor does it expect to pay dividends in the foreseeable future. See "Note 7 — Stock-Based Compensation" for additional information. Income Taxes The Company accounts for income taxes using an asset and liability method, which requires the recognition of taxes payable or refundable for the current year and deferred tax assets and liabilities for the expected future tax consequences of temporary differences that currently exist between the tax basis and the financial reporting basis of our taxable subsidiaries’ assets and liabilities using the enacted tax rates in effect for the year in which the differences are expected to reverse. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in operations in the period that includes the enactment date. The measurement of deferred tax assets is reduced, if necessary, by the amount of any tax benefits that, based on available evidence, are not expected to be realized. The Company files U.S. federal and state and foreign income tax returns in jurisdictions with varying statutes of limitations. In the normal course of business the Company is subject to examination by taxing authorities throughout the world. These audits include questioning the timing and amount of deductions, the allocation of income among various tax jurisdictions and compliance with federal, state, local and foreign tax laws. The Company accounts for unrecognized tax benefits using a more-likely-than-not threshold for financial statement recognition and measurement of tax positions taken or expected to be taken in a tax return. The Company establishes reserves for tax-related uncertainties based on estimates of whether, and the extent to which, additional taxes will be due. The Company records an income tax liability, if any, for the difference between the benefit recognized and measured and the tax position taken or expected to be taken on our tax returns. The Company recognizes interest accrued and penalties related to unrecognized tax benefits in the income tax provision. Net Loss Per Common Share Basic net income (loss) per share is computed by dividing income (loss) available to common shareholders by the weighted-average number of shares of common stock outstanding during the period. Diluted net income per share is computed by dividing income available to common shareholders by the weighted-average number of shares of common stock outstanding during the period increased to include the number of additional shares of common stock that would have been outstanding if the potentially dilutive securities had been issued. Potentially dilutive securities include outstanding stock options, shares to be purchased under the Company’s ESPP, non-vested RSUs and PSUs. The dilutive effect of potentially dilutive securities is reflected in diluted earnings per share by application of the treasury stock method. Under the treasury stock method, an increase in the fair market value of the Company’s common stock can result in a greater dilutive effect from potentially dilutive securities. Potential shares of common stock that are not included in the determination of diluted net income per share because they are anti-dilutive for the periods presented consist of stock options, non-vested RSUs and PSUs, and shares to be purchased under our ESPP. The Company excluded from diluted earnings per share the weighted-average common share equivalents related to 3.3 million and 7.3 million shares for the years ended December 31, 2020 and 2019, respectively, because their effect would have been anti-dilutive. Government Assistance During 2020, ServiceSource received various grants from the Singapore government, including the Job Support Scheme, which assists enterprises in retaining their local employees during the COVID-19 pandemic. ServiceSource received approximately $1.3 million from these grants during the year ended December 31, 2020 and is expected to receive an additional $0.2 million through July 2021. There are no conditions to repay the grants. Government grants are recognized in the Company's Consolidated Statements of Operations during the same period that the expenses related to the grant are incurred if there is reasonable assurance the grant will be received, and the Company has complied with any conditions attached to the grant. New Accounting Standards Issued but Not yet Adopted Income Taxes In December 2019, the FASB issued an ASU that simplifies the accounting for income taxes by eliminating certain exceptions to the guidance in ASC 740 related to the approach for intraperiod tax allocation, the methodology for calculating income taxes in an interim period and the recognition of deferred tax liabilities for outside basis differences. This ASU is effective for annual periods and interim periods for those annual periods beginning after December 15, 2020, with early adoption permitted. Based on our current analysis, the Company does not expect the adoption to have a material impact on the Consolidated Financial Statements. The Company will adopt this standard effective January 1, 2021. Financial Instruments - Credit Losses In June 2016, the FASB issued an ASU that amends the measurement of credit losses on financial instruments and requires measurement and recognition of expected versus incurred credit losses for financial assets held. This ASU is effective for annual periods and interim periods for those annual periods beginning after December 15, 2022, with early adoption permitted. This standard will apply to the Company's accounts receivable and contract assets. Based on our current analysis, the Company does not expect the adoption to have a material impact on the Consolidated Financial Statements as credit losses from trade receivables have historically been insignificant. The Company will adopt this standard effective January 1, 2023. |
Consolidated Financial Statemen
Consolidated Financial Statement Details | 12 Months Ended |
Dec. 31, 2020 | |
Property, Plant and Equipment [Abstract] | |
Consolidated Financial Statement Details | Consolidated Financial Statement Details Property and equipment, net were comprised of the following: December 31, Depreciable Life 2020 2019 (in thousands) Computers and equipment 2 - 5 years $ 17,904 $ 18,707 Software (1) 2 - 7 years 60,771 63,557 Furniture and fixtures 7 years 10,727 10,041 Leasehold improvements Lesser of estimated useful life or life of lease 17,823 18,395 Finance leases 2,880 3,480 Property and equipment 110,105 114,180 Less: accumulated depreciation and amortization (80,157) (78,031) Property and equipment, net $ 29,948 $ 36,149 (1) Includes capitalized internally developed software as follows (in thousands): Balance as of January 1, 2019 $ 18,879 Capitalized costs 6,340 Amortization expense (5,802) Balance as of December 31, 2019 19,417 Capitalized costs 5,076 Amortization expense (7,701) Balance as of December 31, 2020 $ 16,792 Depreciation and amortization expense related to property and equipment, which includes amortization expense for internally developed software and finance leases, was $13.9 million and $13.4 million during the years ended December 31, 2020 and 2019, respectively. The following table presents long-lived assets by geographic location: December 31, 2020 2019 (in thousands) NALA $ 24,420 $ 28,283 APJ 4,456 6,580 EMEA 1,072 1,286 Property and equipment, net $ 29,948 $ 36,149 |
Debt
Debt | 12 Months Ended |
Dec. 31, 2020 | |
Debt Disclosure [Abstract] | |
Debt | Debt Revolving Line of Credit In July 2018, the Company entered into a $40.0 million Revolver that allows it and the other Borrower named therein to borrow against their domestic receivables as defined in the Credit Agreement. The Revolver matures July 2021 and bears interest at a variable rate per annum based on the greater of the prime rate, the Federal Funds rate plus 0.50% or the one-month LIBOR rate plus 1.00%, plus, in each case, a margin of 1.00% for base rate borrowings or 2.00% for Eurodollar borrowings. As of December 31, 2020, the Company had $15.0 million of borrowings under the Revolver through a one-month Eurodollar borrowing at an effective interest rate of 2.15% maturing January 2021. An additional $11.2 million was available for borrowing under the Revolver as of December 31, 2020. The Eurodollar borrowings may be extended upon maturity, converted into a base rate borrowing upon maturity or require an incremental payment if the borrowing base decreases below the current amount outstanding during the term of the Eurodollar borrowing. Subsequent to December 31, 2020, the one-month $15.0 million Eurodollar borrowing was extended at an effective interest rate of approximately 2.12% maturing at the end of February 2021. The obligations under the Credit Agreement are secured by substantially all the assets of the Borrower and certain of their subsidiaries, including pledges of equity in certain of the Company’s subsidiaries. The Revolver has financial covenants which the Company was in compliance with as of December 31, 2020 and 2019. Interest Expense Interest expense related to the amortization of debt issuance costs and interest expense associated with the Company's debt obligation was $0.5 million and $0.2 million for the years ended December 31, 2020 and 2019, respectively. |
Leases
Leases | 12 Months Ended |
Dec. 31, 2020 | |
Leases [Abstract] | |
Leases | Leases The Company has operating leases for office space and finance leases for certain equipment under non-cancelable agreements with various expiration dates through May 2030. Certain office leases include the option to extend the term between one During 2020, the Company entered into a 22-month sublease agreement with a third-party for one floor of its Manila office space through October 2021, extended its lease for two of its five floors in the Kuala Lumpur office space through December 2023, and extended its lease for one of its three floors in the Sofia office space through February 2026. Subsequent to December 31, 2020, the Company entered into a sublease agreement through the end of the original lease term with a third party for two floors of its Manila office space, with total sublease income of approximately $1.4 million. The Company recognizes rent expense and sublease income on a straight-line basis over the lease period and accrues for rent expense and sublease income incurred but not paid. Supplemental income statement information related to leases was as follows: For the Year Ended December 31, 2020 2019 (in thousands) Operating lease cost $ 12,264 $ 12,000 Finance lease cost: Amortization of leased assets 744 709 Interest on lease liabilities 88 163 Total finance lease cost 832 872 Sublease income (3,599) (2,166) Net lease cost $ 9,497 $ 10,706 Supplemental balance sheet information related to leases was as follows: December 31, 2020 2019 (in thousands) Operating leases: ROU assets $ 29,798 $ 36,396 Operating lease liabilities $ 10,797 $ 9,652 Operating lease liabilities, net of current portion 25,975 33,716 Total operating lease liabilities $ 36,772 $ 43,368 Finance leases: Property and equipment $ 2,880 $ 3,480 Accumulated depreciation (1,963) (1,823) Property and equipment, net $ 917 $ 1,657 Other current liabilities $ 608 $ 952 Other long-term liabilities 63 671 Total finance lease liabilities $ 671 $ 1,623 Lease term and discount rate information was as follows: For the Year Ended December 31, 2020 2019 Weighted-average remaining lease term (in years): Operating lease 5.7 5.9 Finance lease 1.0 1.8 Weighted-average discount rate: Operating lease 6.2 % 6.4 % Finance lease 6.5 % 8.0 % Maturities of lease liabilities were as follows as of December 31, 2020: Operating Leases Operating Subleases Finance Leases Total (in thousands) 2021 $ 12,846 $ (3,560) $ 633 $ 9,919 2022 9,291 (2,538) 64 6,817 2023 4,306 (623) — 3,683 2024 3,004 — — 3,004 2025 3,045 — — 3,045 Thereafter 11,510 — — 11,510 Total lease payments 44,002 (6,721) 697 37,978 Less: interest (7,230) — (26) (7,256) Total $ 36,772 $ (6,721) $ 671 $ 30,722 |
Leases | Leases The Company has operating leases for office space and finance leases for certain equipment under non-cancelable agreements with various expiration dates through May 2030. Certain office leases include the option to extend the term between one During 2020, the Company entered into a 22-month sublease agreement with a third-party for one floor of its Manila office space through October 2021, extended its lease for two of its five floors in the Kuala Lumpur office space through December 2023, and extended its lease for one of its three floors in the Sofia office space through February 2026. Subsequent to December 31, 2020, the Company entered into a sublease agreement through the end of the original lease term with a third party for two floors of its Manila office space, with total sublease income of approximately $1.4 million. The Company recognizes rent expense and sublease income on a straight-line basis over the lease period and accrues for rent expense and sublease income incurred but not paid. Supplemental income statement information related to leases was as follows: For the Year Ended December 31, 2020 2019 (in thousands) Operating lease cost $ 12,264 $ 12,000 Finance lease cost: Amortization of leased assets 744 709 Interest on lease liabilities 88 163 Total finance lease cost 832 872 Sublease income (3,599) (2,166) Net lease cost $ 9,497 $ 10,706 Supplemental balance sheet information related to leases was as follows: December 31, 2020 2019 (in thousands) Operating leases: ROU assets $ 29,798 $ 36,396 Operating lease liabilities $ 10,797 $ 9,652 Operating lease liabilities, net of current portion 25,975 33,716 Total operating lease liabilities $ 36,772 $ 43,368 Finance leases: Property and equipment $ 2,880 $ 3,480 Accumulated depreciation (1,963) (1,823) Property and equipment, net $ 917 $ 1,657 Other current liabilities $ 608 $ 952 Other long-term liabilities 63 671 Total finance lease liabilities $ 671 $ 1,623 Lease term and discount rate information was as follows: For the Year Ended December 31, 2020 2019 Weighted-average remaining lease term (in years): Operating lease 5.7 5.9 Finance lease 1.0 1.8 Weighted-average discount rate: Operating lease 6.2 % 6.4 % Finance lease 6.5 % 8.0 % Maturities of lease liabilities were as follows as of December 31, 2020: Operating Leases Operating Subleases Finance Leases Total (in thousands) 2021 $ 12,846 $ (3,560) $ 633 $ 9,919 2022 9,291 (2,538) 64 6,817 2023 4,306 (623) — 3,683 2024 3,004 — — 3,004 2025 3,045 — — 3,045 Thereafter 11,510 — — 11,510 Total lease payments 44,002 (6,721) 697 37,978 Less: interest (7,230) — (26) (7,256) Total $ 36,772 $ (6,721) $ 671 $ 30,722 |
Revenue Recognition
Revenue Recognition | 12 Months Ended |
Dec. 31, 2020 | |
Revenue from Contract with Customer [Abstract] | |
Revenue Recognition | Revenue Recognition The following tables present the disaggregation of revenue from contracts with our clients: Revenue by Performance Obligation For the Year Ended December 31, 2020 2019 (in thousands) Selling services $ 190,906 $ 213,897 Professional services 3,695 2,238 Total revenue $ 194,601 $ 216,135 Revenue by Geography Revenue for each geography generally reflects commissions earned from sales of service contracts managed from revenue delivery centers in that geography and subscription sales and professional services to deploy the Company's solutions. Predominantly all the service contracts sold and managed by the revenue delivery centers relate to end customers located in the same geography. All NALA revenue represents revenue generated within the U.S. For the Year Ended December 31, 2020 2019 (in thousands) NALA $ 111,085 $ 125,660 EMEA 54,975 55,801 APJ 28,541 34,674 Total revenue $ 194,601 $ 216,135 Revenue by Contract Pricing For the Year Ended December 31, 2020 2019 (in thousands) Variable consideration $ 142,355 $ 146,192 Fixed consideration 52,246 69,943 Total revenue $ 194,601 $ 216,135 Four of our clients represented 15%, 15%, 11% and 11% of our revenue, respectively, for the year ended December 31, 2020. Contract Assets and Liabilities As of December 31, 2020, contract assets and liabilities were $0.5 million and $0.4 million, respectively. As of December 31, 2019, contract assets were insignificant and contract liabilities were $0.8 million. Transaction Price Allocated to Remaining Performance Obligations As of December 31, 2020, assuming none of the Company’s current contracts with fixed consideration are renewed, the Company estimates receiving approximately $35.9 million in future selling services fixed consideration and approximately $0.4 million in professional services fixed consideration. Contract Acquisition Costs As of December 31, 2020 and 2019, capitalized contract acquisition costs were $0.9 million and $1.6 million, respectively. The Company recorded amortization expense related to capitalized contract acquisition costs of $0.8 million and $1.3 million for the year ended December 31, 2020 and 2019, respectively. Impairment recognized on contract costs was insignificant for the years ended December 31, 2020 and 2019. |
Stock-Based Compensation
Stock-Based Compensation | 12 Months Ended |
Dec. 31, 2020 | |
Share-based Payment Arrangement [Abstract] | |
Stock-Based Compensation | Stock-Based Compensation 2020 Equity Incentive Plan The 2020 Plan was approved by the Company’s stockholders on May 14, 2020 and expires March 4, 2025. The 2020 Plan provides for the Company's common stock to be issued pursuant to permitted awards, which include, but are not limited to, options, stock appreciation rights, restricted stock units, performance stock units and other cash and stock-based awards. As of December 31, 2020, 3.5 million shares were available for grant under the 2020 Plan. On May 14, 2020, following the approval of the 2020 Plan, the Company’s board of directors terminated the 2011 Plan with the effect that no additional awards may be issued under the 2011 Plan and all outstanding awards under the 2011 Plan shall continue and be unaffected by the termination of the 2011 Plan. 2020 PSU Awards During May 2020 and prior to expiration of the 2011 Plan, the Company granted PSUs to certain executives under the 2011 Plan. The aggregate target number of shares outstanding as of December 31, 2020 subject to these awards is 0.7 million, with an aggregate grant date fair value of $0.9 million. The number of shares ultimately received related to these awards ranges from 0% to 150% of the executive's target award depending on the Company's achievement of specified Adjusted EBITDA and net bookings targets over a two-year performance period and will vest on the third anniversary of the grant date. Stock-Based Compensation Expense The following table presents stock-based compensation expense as allocated within the Company’s Consolidated Statements of Operations: For the Year Ended December 31, 2020 2019 (in thousands) Cost of revenue $ 389 $ 538 Sales and marketing 1,416 1,772 Research and development 57 41 General and administrative 3,003 2,811 Total stock-based compensation $ 4,865 $ 5,162 The above table does not include capitalized stock-based compensation related to internal-use software that was insignificant for the years ended December 31, 2020 and 2019. Fair Value of Equity Compensation The Black-Scholes option-pricing model assumptions for stock options were as follows: For the Year Ended December 31, 2020 2019 Expected term (in years) 5.0 5.0 Expected volatility 56% 55% - 59% Risk-free interest rate 0.75% 1.39% - 2.57% Expected dividend yield — % — % Weighted-average grant date fair value $ 0.63 $ 0.47 The Black-Scholes option-pricing model assumptions for purchase rights under the ESPP were as follows: For the Year Ended December 31, 2020 2019 Expected term (in years) 0.5 - 1.0 0.5 - 1.0 Expected volatility 53% - 60% 39% - 97% Risk-free interest rate 0.12% - 1.52% 1.67% - 2.47% Expected dividend yield — % — % Stock Awards A summary of the Company's stock option activity and related information was as follows: Shares Weighted-Average Exercise Price Weighted-Average Remaining Contractual Life (Years) Intrinsic Value (in thousands) (in thousands) Outstanding as of December 31, 2019 4,146 $ 2.16 1,580 Granted 20 $ 1.32 Exercised (212) $ 1.20 Expired and/or forfeited (924) $ 2.60 Outstanding as of December 31, 2020 3,030 $ 2.09 5.15 $ 1,372 Exercisable as of December 31, 2020 2,437 $ 2.31 5.25 $ 983 For the Year Ended December 31, 2020 2019 (in thousands) Fair value of options vested $ 733 $ 865 Intrinsic value of options exercised $ 46 $ — As of December 31, 2020, there was $0.3 million of unrecognized compensation expense related to stock options, which is expected to be recognized over a weighted-average period of 1.8 years. A summary of the Company's RSU and PSU activity and related information was as follows: Units Weighted-Average Grant Date Fair Value (in thousands) Non-vested as of December 31, 2019 5,305 $ 1.88 Granted 5,617 $ 1.43 Vested (1) (1,944) $ 1.95 Forfeited (1,963) $ 1.70 Non-vested as of December 31, 2020 7,015 $ 1.55 (1) 1,845 shares of common stock were issued for RSUs and PSUs vested and the remaining 99 shares were withheld for taxes. For the Year Ended December 31, 2020 2019 (in thousands) Fair value of RSUs and PSUs vested $ 2,940 $ 2,076 As of December 31, 2020, there was $7.5 million of unrecognized compensation expense related to RSUs and PSUs, which is expected to be recognized over a weighted-average period of 2.0 years. |
Restructuring and Other Related
Restructuring and Other Related Costs | 12 Months Ended |
Dec. 31, 2020 | |
Restructuring and Related Activities [Abstract] | |
Restructuring and Other Related Costs | Restructuring and Other Related Costs The Company has undergone restructuring efforts to better align its cost structure with its business and market conditions. These restructuring efforts include severance and other employee costs, lease and other contract termination costs and asset impairments. Severance and other employee costs include severance payments, related employee benefits, stock-based compensation related to the accelerated vesting of certain equity awards and employee-related legal fees. Lease and other contract termination costs include charges related to lease consolidation and abandonment of spaces no longer utilized and the cancellation of certain contracts with outside vendors. Asset impairments include charges related to leasehold improvements and furniture in spaces vacated or no longer in use. The restructuring plans and future cash outlays are recorded in "Accrued expenses" and "Other long-term liabilities" in the Consolidated Balance Sheets as of December 31, 2020 and 2019. During 2020, the Company announced a restructuring effort to align with its virtual-first operating model and reduce the operating cost structure resulting in a reduction of headcount and office lease costs. The Company recognized charges related to this restructuring effort of $0.8 million for the year ended December 31, 2020 and expects to incur approximately $1.0 million in additional costs through 2021. The following table presents a reconciliation of the beginning and ending fair value liability balance related to the 2020 restructuring effort: Severance and Other Employee Costs Lease Termination Costs Total (in thousands) Balance as of January 1, 2020 $ — $ — $ — Restructuring and other related costs 780 59 839 Cash paid (442) — (442) Balance as of December 31, 2020 $ 338 $ 59 $ 397 During 2019, the Company announced a restructuring effort resulting in a reduction of headcount and office lease costs. The Company recognized charges related to this restructuring effort of $0.7 million and $1.9 million for the year ended December 31, 2020 and 2019, respectively. The Company does not expect to incur additional restructuring charges related to the 2019 restructuring. The following table presents a reconciliation of the beginning and ending fair value liability balance related to the 2019 restructuring effort: Severance and Other Employee Costs Lease Termination Costs Total (in thousands) Balance as of January 1, 2019 $ — $ — $ — Restructuring and other related costs 1,806 123 1,929 Cash paid (1,624) (123) (1,747) Balance as of December 31, 2019 182 — 182 Restructuring and other related costs 703 — 703 Cash paid (866) — (866) Change in estimates and non-cash charges (19) — (19) Balance as of December 31, 2020 $ — $ — $ — In May 2017, the Company announced a restructuring effort resulting in a headcount reduction and the reduction of office space in four locations. The Company does not expect to incur additional restructuring charges related to the May 2017 restructuring. The following table presents a reconciliation of the beginning and ending fair value liability balance related to the May 2017 restructuring effort: Severance and Other Employee Costs Lease and Other Contract Termination Costs Asset Impairments Total (in thousands) Balance as of January 1, 2017 $ — $ — $ — $ — Restructuring and other related costs 3,483 2,939 886 7,308 Cash paid (3,060) (1,185) — (4,245) Change in estimates and non-cash charges — — (886) (886) Acceleration of stock-based compensation expense in additional paid-in capital (352) — — (352) Balance as of December 31, 2017 71 1,754 — 1,825 Restructuring and other related costs 120 89 — 209 Cash paid (188) (1,133) — (1,321) Change in estimates and non-cash charges (3) 252 — 249 Balance as of December 31, 2018 — 962 — 962 Cash paid — (183) — (183) Change in estimates and non-cash charges — (63) — (63) Balance as of December 31, 2019 — 716 — 716 Cash paid — (182) — (182) Change in estimates and non-cash charges — (63) — (63) Balance as of December 31, 2020 $ — $ 471 $ — $ 471 |
Income Taxes
Income Taxes | 12 Months Ended |
Dec. 31, 2020 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | Income Taxes Loss from continuing operations before provision for income taxes for the Company’s domestic and international operations was as follows: For the Year Ended December 31, 2020 2019 (in thousands) U.S. $ (18,278) $ (9,877) International 446 (8,363) Loss before provision for income taxes $ (17,832) $ (18,240) The income tax provision consisted of the following: For the Year Ended December 31, 2020 2019 (in thousands) Current: Federal $ 121 $ 181 Foreign 559 189 State and local 43 58 Total current income tax provision 723 428 Deferred: Federal (13) 65 Foreign 7 (6) State and local (8) (44) Total deferred income tax provision (14) 15 Income tax provision $ 709 $ 443 The following table provides a reconciliation of income taxes provided at the federal statutory rate of 21% for the years ended December 31, 2020 and 2019 to the income tax provision: For the Year Ended December 31, 2020 2019 (in thousands) U.S. income tax at federal statutory rate $ (3,745) $ (3,830) State income taxes, net of federal benefit (1,575) 238 Share-based compensation 277 2,241 Foreign tax rate differential (1,749) 374 Permanent differences 3,355 403 Tax credits — (136) Valuation allowance 3,756 1,128 Other, net 390 25 Income tax provision $ 709 $ 443 In November 2015, the Philippine Economic Zone Authority granted a four-year tax holiday to the Company's Philippine affiliate, commencing with its fiscal year beginning January 1, 2016. The earnings per share benefit in 2020 and 2019 was not material.The Company has applied for the tax holiday extension, however, as of December 31, 2020 the extension has not been granted. Therefore, the Company included tax on modified gross receipts in the current income tax calculation. In December 2013, Malaysia granted a ten-year tax holiday to the Company’s Malaysia affiliate, commencing with its fiscal year beginning January 1, 2014. This resulted in a tax benefit in fiscal 2013 of approximately $0.2 million from the elimination of the Malaysia subsidiary’s deferred tax liabilities. The earnings per share benefit in 2019 and 2020 was not material. The following table provides the effect of temporary differences that created deferred income taxes as of December 31, 2020 and 2019. Deferred tax assets and liabilities represent the future effects on income taxes resulting from temporary differences and carryforwards at the end of the respective periods: December 31, 2020 2019 (in thousands) Deferred tax assets: Accrued liabilities $ 5,710 $ 6,576 Share-based compensation 864 879 Net operating loss carryforwards 84,450 81,533 Tax credits 7,310 7,410 Amortization of tax intangibles — 525 Interest 187 123 Total deferred tax assets 98,521 97,046 Deferred tax liabilities: Property and equipment (3,423) (5,037) ROU assets (3,704) (4,631) Amortization of tax intangibles (232) — Other, net (533) (583) Total deferred tax liabilities (7,892) (10,251) Net deferred tax assets 90,629 86,795 Less: valuation allowance (90,899) (87,078) Net deferred tax liabilities $ (270) $ (283) As of December 31, 2020 and 2019, management assessed the realizability of deferred tax assets and evaluated the need for a valuation allowance for deferred tax assets on a jurisdictional basis. This evaluation utilizes the framework contained in ASC 740 wherein management analyzes all positive and negative evidence available at the balance sheet date to determine whether all or some portion of the Company's deferred tax assets will not be realized. Under this guidance, a valuation allowance must be established for deferred tax assets when it is more-likely-than-not that the asset will not be realized. In assessing the realization of the Company's deferred tax assets, management considers all available evidence, both positive and negative. In concluding on the evaluation, management placed significant emphasis on guidance in ASC 740, which states that “a cumulative loss in recent years is a significant piece of negative evidence that is difficult to overcome.” Based upon available evidence, it was concluded on a more-likely-than-not basis that all deferred tax assets were not realizable as of December 31, 2020. Accordingly, a valuation allowance of $90.9 million has been recorded to offset this deferred tax asset. The valuation allowance decreased $3.8 million and $1.3 million for the years ended December 31, 2020 and 2019, respectively. The Company also maintains a deferred tax liability related to indefinite lived intangible assets in jurisdictions which the Company does not have indefinite lived deferred tax assets, as reversal of the taxable temporary difference cannot serve as a source of income for realization of the non-indefinite deferred tax assets, because the deferred tax liability will not reverse until the asset is sold or written down due to impairment. ASC 842 The Company adopted ASC 842 on January 1, 2019. Under ASC 842, the Company is required to recognize the assets and liabilities that arise from most operating leases on the balance sheet. Upon adoption, no change in retained earnings was recorded related to income taxes as the Company maintains a full valuation allowance. As of the implementation date, an adjustment of $4.6 million was recorded as a deferred tax liability and an adjustment of $4.6 million was recorded as a deferred tax asset. Operating Loss and Tax Credit Carryforwards As of December 31, 2020, the Company had $2.7 million of U.S. federal research and development credits which expire beginning in 2031 and $3.7 million of California research and development credits which do not expire. The Company also has $0.5 million of California Enterprise Zone Credits which expire beginning in 2023 if not utilized and $1.3 million of other state tax credits which expire beginning in 2024 if not utilized. As of December 31, 2020, the Company had net operating loss carryforwards of approximately $316.7 million for federal income tax purposes of which $52.0 million can be carried forward indefinitely and the remaining $264.8 million will expire at various dates beginning in 2024. The Company has $248.6 million in state net operating losses. These losses are available to reduce taxable income and expire at various dates beginning in 2021. The Company also has foreign net operating loss carryforwards of approximately $15.4 million of which $14.6 million is indefinitely available to reduce taxable income and will expire in 2025. Utilization of the Company’s net operating loss and tax credit carryforwards may be subject to a substantial annual limitation due to the ownership change limitations provided by the IRC and similar state provisions. Such an annual limitation could result in the expiration or elimination of the net operating loss and tax credit carryforwards before utilization. Management believes that the limitation will not limit utilization of the carryforwards prior to their expiration. The Company acquired U.S. federal net operating loss carryforwards of Scout Analytics, Inc. upon the acquisition of that entity in January 2014, subject to the ownership change limitations. Acquired U.S. federal net operating losses from Scout total approximately $30.2 million net of amounts unavailable due to ownership change limitations, which is included in the total U.S. federal net operating loss above. The Company's 2016 through 2020 tax years generally remain subject to examination by federal, state and foreign tax authorities. As the Company has incurred losses in most jurisdictions, the taxing authorities can generally challenge 2006 through 2015 losses to determine either the amount of the carryforward deduction reported in the open year or the amount of an net operating loss deduction that is absorbed in a closed year and supports the determination of the available net operating loss deduction for the open year under examination. Uncertain Tax Positions A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows (in thousands): Balance as of January 1, 2019 $ 944 Additions based on tax positions related to the current year 20 Balance as of December 31, 2019 964 Additions based on tax positions related to the current year 12 Reductions for tax positions of prior years (11) Balance as of December 31, 2020 $ 965 As of December 31, 2020, the Company had a liability for unrecognized tax benefits of $1.0 million, none of which, if recognized, would affect the Company’s effective tax rate. The Company does not expect its unrecognized tax benefits to change significantly over the next 12 months. The Company recognizes interest and penalties accrued related to unrecognized tax benefits in income tax expense. During the years ended December 31, 2020 and 2019, interest and penalties recognized were insignificant. |
Employee Benefit Plan
Employee Benefit Plan | 12 Months Ended |
Dec. 31, 2020 | |
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract] | |
Employee Benefit Plan | Employee Benefit PlanThe Company maintains a 401(k) defined contribution plan that covers eligible employees. Employer matching contributions, which may be discontinued at the Company’s discretion, were approximately $1.3 million and $1.5 million during the years ended December 31, 2020 and 2019, respectively. |
Commitments and Contingencies
Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2020 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | Commitments and Contingencies Letter of Credit In connection with two of our leased facilities, the Company is required to maintain two letters of credit totaling $2.3 million. The letters of credit are secured by $2.3 million of cash in money market accounts, which are classified as restricted cash in "Other assets" in our Consolidated Balance Sheets. Non-cancelable Service Contract Commitments Future minimum payments under non-cancelable service contract commitments were as follows: December 31, 2020 (in thousands) 2021 $ 10,385 2022 9,699 2023 7,993 2024 821 Thereafter — Total $ 28,898 |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2020 | |
Accounting Policies [Abstract] | |
Basis of Presentation | Basis of Presentation The accompanying Consolidated Financial Statements include the accounts of ServiceSource International, Inc. and its wholly owned subsidiaries and have been prepared in accordance with GAAP and with the instructions to Form 10-K. All intercompany balances and transactions have been eliminated in consolidation. The CEO manages and allocates resources on a company-wide basis as a single segment that is focused on service offerings which integrate data, processes and cloud technologies. |
Use of Estimates | Use of Estimates The preparation of the Consolidated Financial Statements in accordance with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the Consolidated Financial Statements and the reported amount of net revenue and expenses during the reporting period. The Company bases its estimates and judgments on historical experience and on various assumptions that it believes are reasonable under the circumstances. The Company has considered the effects of the COVID-19 pandemic in determining its estimates. However, future events are difficult to predict and subject to change, especially with the risks and uncertainties related to the impact of the COVID-19 pandemic, which could cause estimates and judgments to require adjustment. Actual results and outcomes may differ from our estimate s. |
Reclassifications | Reclassifications Certain items on the Consolidated Statements of Cash Flows for the year ended December 31, 2019 have been reclassified to conform to the current year presentation. These reclassifications did not affect the Consolidated Balance Sheet, Consolidated Statements of Operations, Consolidated Statements of Comprehensive Loss or Consolidated Statements of Stockholders' Equity. |
Significant Risks and Uncertainties | Significant Risks and Uncertainties Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash and cash equivalents and accounts receivable. The Company is also exposed to market risks, including the effects of changes in foreign currency exchange rates and interest rates. Cash is maintained in demand deposit accounts at U.S., European and Asian financial institutions that management believes are credit worthy. Deposits in these institutions may exceed the amount of insurance provided on these deposits. |
Fair Value of Financial Instruments | Fair Value of Financial Instruments The Company accounts for certain assets and liabilities at fair value. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value guidance establishes a hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. An asset or liability’s level is based upon the lowest level of input that is significant to the fair value measurement. The guidance requires that assets and liabilities carried at fair value be classified and disclosed in one of the following three categories: Level 1: Quoted prices in active markets for identical assets or liabilities; Level 2: Inputs other than quoted prices included within Level 1 that are either directly or indirectly observable; Level 3: Inputs that are generally unobservable and typically reflect management's estimates or assumptions that market participants would use in pricing the asset or liability. The carrying amount of financial instruments including cash and cash equivalents, restricted cash, accounts receivable, accounts payable, accrued expenses and other current liabilities approximate their fair value due to their short-term maturities. |
Cash Equivalents and Restricted Cash | Cash Equivalents and Restricted Cash Cash equivalents consist of highly liquid investments with original maturities of three months or less at the time of purchase and are classified as a Level 1 investment. |
Foreign Currency Translation and Remeasurement | Foreign Currency Translation and RemeasurementAssets and liabilities of non-U.S. subsidiaries that operate in a local currency environment, where that local currency is the functional currency, are translated to U.S. dollars at exchange rates at the balance sheet date. Net revenue and expenses are translated at monthly average exchange rates. The Company accumulates net translation adjustments in equity as a component of accumulated other comprehensive income. For non-U.S. subsidiaries whose functional currency is the U.S. dollar, transactions that are denominated in foreign currencies are remeasured in U.S. dollars, and any resulting gains and losses are reported in "Interest and other expense, net" in the Consolidated Statements of Operations. |
Accounts Receivable and Allowance for Doubtful Accounts | Accounts Receivable and Allowance for Doubtful Accounts Accounts receivable are derived from services performed for clients located primarily in the U.S., Europe and Asia. The Company attempts to mitigate the credit risk in its trade receivables through its ongoing credit evaluation process and historical collection experience. The Company performs a periodic review for specific aging evaluation allowance for doubtful accounts based upon the expected collectability of its accounts receivable, which takes into consideration an analysis of historical bad debts, customers' timeliness on payment and other available information. Accounts receivable are stated at their carrying values net of an allowance for doubtful accounts, if applicable. The Company evaluates the ongoing collectability of its accounts receivable based on a number of factors such as the credit quality of its clients, the age of accounts receivable balances, collections experience, current economic conditions and other factors that may affect a client’s ability to pay. In circumstances where the Company is aware of a specific client’s inability to meet its financial obligations to the Company, a specific allowance for doubtful accounts is estimated and recorded, which reduces the recognized receivable to the estimated amount that management believes will ultimately be collected. Account balances are charged off against the allowance when it is probable that the receivable will not be recovered. The allowance for doubtful accounts as of December 31, 2020 and 2019, and recoveries and reductions to revenue for the years ended December 31, 2020 and 2019, were insignificant. |
Property and Equipment | Property and Equipment The Company records property and equipment at cost, less accumulated depreciation and amortization. Depreciation is recorded using the straight-line method over the estimated useful lives for each asset class. When assets are disposed, the cost and related accumulated depreciation and amortization are written-off and any gain or loss on sale or disposal is reported in "General and administrative" expense in the Consolidated Statements of Operations. |
Lease Asset Retirement Obligations | Lease Asset Retirement ObligationsThe fair value of a liability for an ARO is recognized in the period in which it is incurred. The Company’s AROs are associated with leasehold improvements at our international office locations, which, at the end of a lease, are contractually obligated to be removed. AROs were approximately $1.5 million and $1.4 million as of December 31, 2020 and 2019, respectively. Accretion expense was insignificant for the years ended December 31, 2020 and 2019. |
Capitalized Internal-Use Software | Capitalized Internal-Use Software Expenditures related to software developed or obtained for internal use are capitalized and amortized over a period of two |
Goodwill Impairment | Goodwill ImpairmentGoodwill represents the excess of the purchase price over the estimated fair market value of net identifiable assets of acquired businesses. The Company evaluates goodwill for possible impairment at least annually or whenever events or changes in circumstances indicate the carrying amount of such assets may not be recoverable. This evaluation includes a preliminary assessment of qualitative factors to determine whether it is necessary to compare the fair value of the reporting unit with its carrying value. If there are indicators of impairment, the fair value of the reporting unit is compared to its carrying value. If the carrying value of the reporting unit exceeds its fair value, an impairment loss equal to the difference is recorded. |
Impairment of Long-Lived Assets | Impairment of Long-Lived Assets The Company evaluates the recoverability of its long-lived assets whenever events or changes in circumstances indicate the carrying amount of the long-lived asset may not be recoverable. Recoverability of these assets is measured by comparison of their carrying amounts to future undiscounted cash flows the assets are expected to generate. If the long-lived asset is impaired, an impairment is recognized for the amount by which the carrying value of the asset exceeds its fair value. No impairment was recorded for the years ended December 31, 2020 and 2019. |
Comprehensive Loss | Comprehensive Loss We report comprehensive loss in our Consolidated Statements of Comprehensive Loss. Amounts reported in “Accumulated other comprehensive income” consist of foreign currency translation adjustments from subsidiaries with a functional currency other than the U.S. dollar. |
Revenue Recognition | Revenue Recognition The Company provides a comprehensive suite of selling and professional services to its clients. Selling services consists of sales earned from the following categories of selling motions: • Digital sales activities include demand qualification, demand conversion, and account management; • Customer success activities include onboarding, adoption, and renewals management; and • Channel management efforts include partner recruitment, partner onboarding and enablement, and partner success management. Professional services involve providing data integration at scale with our systems and processes, combined with client data enhancement, enablement and optimization. The Company derives all of its revenue from contracts with clients. Revenue is measured based on the consideration specified in a contract. The Company’s contracts generally contain one to two distinct performance obligations that are sold on a variable and/or fixed consideration basis. These two distinct performance obligations are identified as selling services and professional services. Selling services are generally invoiced on a monthly or quarterly basis with standard 30-day payment terms over the length of the contract, typically one The Company recognizes revenue when it satisfies the performance obligations identified in the contract, which is achieved through the transfer of control of the services to the client. The timing of satisfying performance obligations and the receipt of client consideration can be different and will give rise to contract assets and contract liabilities. Contract assets relate to the Company’s conditional rights to consideration for services provided but not yet billable at the reporting date. Accounts receivable balances reflected in the Consolidated Balance Sheet represent the Company’s unconditional rights to consideration for services provided. Contract asset amounts are transferred to accounts receivables when the rights become unconditional, typically in the same period control of services is transferred to the client and the amount is contractually billable. Contract liabilities primarily relate to the advance consideration received from clients for fixed consideration contracts where transfer of control of the services has not yet occurred. Contract liability balances generally convert to revenue upon either the satisfaction of professional services obligations or when services under fixed consideration contracts are transferred to the client, typically within six months of being recorded. These contract balances are reflected in "Prepaid expenses and other", "Other assets" and "Other current liabilities" in the Consolidated Balance Sheets. The Company accounts for individual services within a single contract separately if they are distinct. A service is distinct if it is separately identifiable from other services in the contract and if a client can benefit from the service on its own or with other resources that are readily available to the client. Determining whether these services are considered distinct performance obligations and qualify as a series of distinct performance obligations that represent a single performance obligation requires significant judgment. The total contract consideration, or transaction price, is allocated between the separate services identified in the contract based on their SSP. SSP is determined based on a cost-plus margin analysis for selling services and a standard hourly rate card for professional services. For professional services that are contractually priced differently from SSP, the Company estimates the SSP using a standard hourly rate card and allocates a portion of the total contract consideration to reflect professional services revenue at SSP. The Company’s performance obligations are satisfied over time and revenue is recognized based on monthly or quarterly time increments and the variable volume of closed bookings during the period at the contractual commission rates for selling services, or proportional performance during the period at SSP for professional services. Due to the continuous nature of providing services to our clients, judgment is required in determining when control of the services is transferred to the client. Because the client simultaneously receives and consumes the benefit of the Company’s selling and professional services as provided, the time increment output method depicts the measure of progress in transferring control of the services to the client. A significant portion of the Company’s contracts is based on a pay-for-performance model in which commission revenue is based on a volume of closed bookings each time period. At each reporting period, the Company makes an estimate of this revenue for amounts that have yet to be invoiced, which was $16.3 million and $16.6 million as of December 31, 2020 and 2019, respectively. These accrued revenue balances are reflected in "Accounts Receivable” in the Consolidated Balance Sheets. While multiple selling motions in a contract are performed at various times and patterns throughout the month or quarter and the number of closed bookings vary in any given period, each time increment of a service activity is substantially the same and has the same pattern of transfer to the client, and therefore, represents a series of distinct performance obligations that form a single performance obligation. As a result, the Company allocates all variable consideration in a contract to the selling services performance obligation in accordance with the variable consideration allocation exception provisions in ASC 606, (less amounts for which it is probable a significant reversal of revenue will occur when the uncertainties related to the variability are resolved) and applies a single measure of progress to record revenue in the period based on when the output of the variable number of closed bookings occurs or when the variable performance metric is achieved. Judgment is required to estimate the amount of variable consideration to include when estimating the total contract consideration and how to allocate the consideration if one of the distinct performance obligations is not sold at SSP. In addition, judgment is required to determine if the variable consideration should be constrained, and to what extent, until the risk of a significant revenue reversal is not probable. The Company applies the optional disclosure exemptions related to variable consideration and the requirement to disclose the remaining transaction price allocated to a wholly unsatisfied promise to transfer a distinct service that forms part of a single performance obligation. Significant estimates and judgments for revenue recognition include: (1) identifying and determining distinct performance obligations in contracts with clients, (2) determining the timing of the satisfaction of performance obligations, (3) estimating the timing and amount of variable consideration in a contract, (4) determining SSP for each performance obligations and the methodology to allocate the total contract consideration to the distinct performance obligations, and (5) determining and measuring variable revenue that has yet to be invoiced as of period end. Our revenue contracts often include promises to transfer services involving multiple selling motions to a client. Determining whether those services are considered distinct and qualify as a series of distinct services that represent a single performance obligation requires significant judgment. Also, due to the continuous nature of providing services to our clients, judgment is required in determining when control of the services is transferred to the client. We also enter into contracts with multiple performance obligations that incorporate fixed consideration, pay-for-performance commissions and variable bonus commissions. Judgment is required to estimate the amount of variable consideration to include when estimating the total contract consideration and how to allocate the consideration if one of the distinct performance obligations is not sold at SSP. Contract Acquisition Costs To obtain contracts with clients, the Company pays its sales team commissions partly based on the estimated value of the contract. Because these sales commissions are incurred and paid upon contract execution and would not have been incurred or payable otherwise, they are considered incremental costs to acquire the contract; and if recoverable, are capitalized as contract acquisition costs in the period the contract is executed. Capitalized sales commissions are amortized to “Sales and marketing" expense in the Consolidated Statements of Operations based on the transfer of services over the contract term, generally one |
Stock-Based Compensation | Stock-Based Compensation The Company issues stock-based awards to employees and directors and offered an ESPP until its expiration in February 2021. Stock options are recorded at fair value on the date of grant date using the Black-Scholes option-pricing model and generally vest ratably over a three RSUs are recorded at fair value on the date of grant and amortized on a straight-line basis over the service period during which the stock vests. RSUs generally vest ratably over three PSUs are stock-based awards in which the number of shares ultimately received by the employee ranges from 0% to 150% of the participant's target award depending on the Company’s achievement of specified Adjusted EBITDA and net bookings targets. PSU expense is based on a fixed grant date fair value and adjusted based on the estimated achievement of the performance metrics and recognized on a straight-line basis over the vesting period. The Company estimates the fair value of purchase rights under the ESPP using the Black-Scholes option-pricing model and the straight-line attribution approach. The fair value of stock options and purchase rights under the ESPP was determined by the Company using the methods and assumptions discussed below. Each of these inputs is subjective and generally requires significant judgment to determine. Expected Term - The expected term represents the period that the Company’s share-based awards are expected to be outstanding. The Company calculates the expected term based on the average of the weighted-average vesting term and contractual term. Expected Volatility - The expected volatility is based on the historical stock volatility of the Company's own common shares. Risk-Free Interest Rate - The risk-free interest rate is based on the implied yield on U.S. Treasury zero-coupon issues for each option grant date with maturities approximately equal to the option’s contractual term. Expected Dividend Yield - The Company has not paid dividends on its common shares nor does it expect to pay dividends in the foreseeable future. |
Income Taxes | Income Taxes The Company accounts for income taxes using an asset and liability method, which requires the recognition of taxes payable or refundable for the current year and deferred tax assets and liabilities for the expected future tax consequences of temporary differences that currently exist between the tax basis and the financial reporting basis of our taxable subsidiaries’ assets and liabilities using the enacted tax rates in effect for the year in which the differences are expected to reverse. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in operations in the period that includes the enactment date. The measurement of deferred tax assets is reduced, if necessary, by the amount of any tax benefits that, based on available evidence, are not expected to be realized. |
Net Loss Per Common Share | Net Loss Per Common Share Basic net income (loss) per share is computed by dividing income (loss) available to common shareholders by the weighted-average number of shares of common stock outstanding during the period. Diluted net income per share is computed by dividing income available to common shareholders by the weighted-average number of shares of common stock outstanding during the period increased to include the number of additional shares of common stock that would have been outstanding if the potentially dilutive securities had been issued. Potentially dilutive securities include outstanding stock options, shares to be purchased under the Company’s ESPP, non-vested RSUs and PSUs. The dilutive effect of potentially dilutive securities is reflected in diluted earnings per share by application of the treasury stock method. Under the treasury stock method, an increase in the fair market value of the Company’s common stock can result in a greater dilutive effect from potentially dilutive securities. |
Government Assistance | Government AssistanceDuring 2020, ServiceSource received various grants from the Singapore government, including the Job Support Scheme, which assists enterprises in retaining their local employees during the COVID-19 pandemic. ServiceSource received approximately $1.3 million from these grants during the year ended December 31, 2020 and is expected to receive an additional $0.2 million through July 2021. There are no conditions to repay the grants. Government grants are recognized in the Company's Consolidated Statements of Operations during the same period that the expenses related to the grant are incurred if there is reasonable assurance the grant will be received, and the Company has complied with any conditions attached to the grant. |
New Accounting Standards | New Accounting Standards Issued but Not yet Adopted Income Taxes In December 2019, the FASB issued an ASU that simplifies the accounting for income taxes by eliminating certain exceptions to the guidance in ASC 740 related to the approach for intraperiod tax allocation, the methodology for calculating income taxes in an interim period and the recognition of deferred tax liabilities for outside basis differences. This ASU is effective for annual periods and interim periods for those annual periods beginning after December 15, 2020, with early adoption permitted. Based on our current analysis, the Company does not expect the adoption to have a material impact on the Consolidated Financial Statements. The Company will adopt this standard effective January 1, 2021. Financial Instruments - Credit Losses In June 2016, the FASB issued an ASU that amends the measurement of credit losses on financial instruments and requires measurement and recognition of expected versus incurred credit losses for financial assets held. This ASU is effective for annual periods and interim periods for those annual periods beginning after December 15, 2022, with early adoption permitted. This standard will apply to the Company's accounts receivable and contract assets. Based on our current analysis, the Company does not expect the adoption to have a material impact on the Consolidated Financial Statements as credit losses from trade receivables have historically been insignificant. The Company will adopt this standard effective January 1, 2023. |
Consolidated Financial Statem_2
Consolidated Financial Statement Details (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Property, Plant and Equipment [Abstract] | |
Summary of Property and Equipment, Net | Property and equipment, net were comprised of the following: December 31, Depreciable Life 2020 2019 (in thousands) Computers and equipment 2 - 5 years $ 17,904 $ 18,707 Software (1) 2 - 7 years 60,771 63,557 Furniture and fixtures 7 years 10,727 10,041 Leasehold improvements Lesser of estimated useful life or life of lease 17,823 18,395 Finance leases 2,880 3,480 Property and equipment 110,105 114,180 Less: accumulated depreciation and amortization (80,157) (78,031) Property and equipment, net $ 29,948 $ 36,149 (1) Includes capitalized internally developed software as follows (in thousands): Balance as of January 1, 2019 $ 18,879 Capitalized costs 6,340 Amortization expense (5,802) Balance as of December 31, 2019 19,417 Capitalized costs 5,076 Amortization expense (7,701) Balance as of December 31, 2020 $ 16,792 |
Long- Lived Assets By Geographic Areas | The following table presents long-lived assets by geographic location: December 31, 2020 2019 (in thousands) NALA $ 24,420 $ 28,283 APJ 4,456 6,580 EMEA 1,072 1,286 Property and equipment, net $ 29,948 $ 36,149 |
Leases (Tables)
Leases (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Leases [Abstract] | |
Summary of Supplemental Information | Supplemental income statement information related to leases was as follows: For the Year Ended December 31, 2020 2019 (in thousands) Operating lease cost $ 12,264 $ 12,000 Finance lease cost: Amortization of leased assets 744 709 Interest on lease liabilities 88 163 Total finance lease cost 832 872 Sublease income (3,599) (2,166) Net lease cost $ 9,497 $ 10,706 Lease term and discount rate information was as follows: For the Year Ended December 31, 2020 2019 Weighted-average remaining lease term (in years): Operating lease 5.7 5.9 Finance lease 1.0 1.8 Weighted-average discount rate: Operating lease 6.2 % 6.4 % Finance lease 6.5 % 8.0 % |
Summary of Supplemental Balance Sheet Information | Supplemental balance sheet information related to leases was as follows: December 31, 2020 2019 (in thousands) Operating leases: ROU assets $ 29,798 $ 36,396 Operating lease liabilities $ 10,797 $ 9,652 Operating lease liabilities, net of current portion 25,975 33,716 Total operating lease liabilities $ 36,772 $ 43,368 Finance leases: Property and equipment $ 2,880 $ 3,480 Accumulated depreciation (1,963) (1,823) Property and equipment, net $ 917 $ 1,657 Other current liabilities $ 608 $ 952 Other long-term liabilities 63 671 Total finance lease liabilities $ 671 $ 1,623 |
Summary of Maturities of Lease Liabilities | Maturities of lease liabilities were as follows as of December 31, 2020: Operating Leases Operating Subleases Finance Leases Total (in thousands) 2021 $ 12,846 $ (3,560) $ 633 $ 9,919 2022 9,291 (2,538) 64 6,817 2023 4,306 (623) — 3,683 2024 3,004 — — 3,004 2025 3,045 — — 3,045 Thereafter 11,510 — — 11,510 Total lease payments 44,002 (6,721) 697 37,978 Less: interest (7,230) — (26) (7,256) Total $ 36,772 $ (6,721) $ 671 $ 30,722 |
Summary of Maturities of Lease Liabilities | Maturities of lease liabilities were as follows as of December 31, 2020: Operating Leases Operating Subleases Finance Leases Total (in thousands) 2021 $ 12,846 $ (3,560) $ 633 $ 9,919 2022 9,291 (2,538) 64 6,817 2023 4,306 (623) — 3,683 2024 3,004 — — 3,004 2025 3,045 — — 3,045 Thereafter 11,510 — — 11,510 Total lease payments 44,002 (6,721) 697 37,978 Less: interest (7,230) — (26) (7,256) Total $ 36,772 $ (6,721) $ 671 $ 30,722 |
Revenue Recognition (Tables)
Revenue Recognition (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Revenue from Contract with Customer [Abstract] | |
Disaggregation of Revenue From Contracts with Clients | The following tables present the disaggregation of revenue from contracts with our clients: Revenue by Performance Obligation For the Year Ended December 31, 2020 2019 (in thousands) Selling services $ 190,906 $ 213,897 Professional services 3,695 2,238 Total revenue $ 194,601 $ 216,135 Revenue by Geography Revenue for each geography generally reflects commissions earned from sales of service contracts managed from revenue delivery centers in that geography and subscription sales and professional services to deploy the Company's solutions. Predominantly all the service contracts sold and managed by the revenue delivery centers relate to end customers located in the same geography. All NALA revenue represents revenue generated within the U.S. For the Year Ended December 31, 2020 2019 (in thousands) NALA $ 111,085 $ 125,660 EMEA 54,975 55,801 APJ 28,541 34,674 Total revenue $ 194,601 $ 216,135 Revenue by Contract Pricing For the Year Ended December 31, 2020 2019 (in thousands) Variable consideration $ 142,355 $ 146,192 Fixed consideration 52,246 69,943 Total revenue $ 194,601 $ 216,135 |
Stock-Based Compensation (Table
Stock-Based Compensation (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Share-based Payment Arrangement [Abstract] | |
Summary of Stock-Based Compensation Expense | Stock-Based Compensation Expense The following table presents stock-based compensation expense as allocated within the Company’s Consolidated Statements of Operations: For the Year Ended December 31, 2020 2019 (in thousands) Cost of revenue $ 389 $ 538 Sales and marketing 1,416 1,772 Research and development 57 41 General and administrative 3,003 2,811 Total stock-based compensation $ 4,865 $ 5,162 |
Schedule of Valuation Assumptions use for Options | The Black-Scholes option-pricing model assumptions for stock options were as follows: For the Year Ended December 31, 2020 2019 Expected term (in years) 5.0 5.0 Expected volatility 56% 55% - 59% Risk-free interest rate 0.75% 1.39% - 2.57% Expected dividend yield — % — % Weighted-average grant date fair value $ 0.63 $ 0.47 |
Schedule of Valuation Assumptions use for ESPP | The Black-Scholes option-pricing model assumptions for purchase rights under the ESPP were as follows: For the Year Ended December 31, 2020 2019 Expected term (in years) 0.5 - 1.0 0.5 - 1.0 Expected volatility 53% - 60% 39% - 97% Risk-free interest rate 0.12% - 1.52% 1.67% - 2.47% Expected dividend yield — % — % |
Summary of Option and RSU Activity | A summary of the Company's stock option activity and related information was as follows: Shares Weighted-Average Exercise Price Weighted-Average Remaining Contractual Life (Years) Intrinsic Value (in thousands) (in thousands) Outstanding as of December 31, 2019 4,146 $ 2.16 1,580 Granted 20 $ 1.32 Exercised (212) $ 1.20 Expired and/or forfeited (924) $ 2.60 Outstanding as of December 31, 2020 3,030 $ 2.09 5.15 $ 1,372 Exercisable as of December 31, 2020 2,437 $ 2.31 5.25 $ 983 For the Year Ended December 31, 2020 2019 (in thousands) Fair value of options vested $ 733 $ 865 Intrinsic value of options exercised $ 46 $ — |
Schedule of Other Than Options Activity | A summary of the Company's RSU and PSU activity and related information was as follows: Units Weighted-Average Grant Date Fair Value (in thousands) Non-vested as of December 31, 2019 5,305 $ 1.88 Granted 5,617 $ 1.43 Vested (1) (1,944) $ 1.95 Forfeited (1,963) $ 1.70 Non-vested as of December 31, 2020 7,015 $ 1.55 (1) 1,845 shares of common stock were issued for RSUs and PSUs vested and the remaining 99 shares were withheld for taxes. For the Year Ended December 31, 2020 2019 (in thousands) Fair value of RSUs and PSUs vested $ 2,940 $ 2,076 |
Restructuring and Other Relat_2
Restructuring and Other Related Costs (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Restructuring and Related Activities [Abstract] | |
Schedule of Restructuring and Other Reserve Activities | The following table presents a reconciliation of the beginning and ending fair value liability balance related to the 2020 restructuring effort: Severance and Other Employee Costs Lease Termination Costs Total (in thousands) Balance as of January 1, 2020 $ — $ — $ — Restructuring and other related costs 780 59 839 Cash paid (442) — (442) Balance as of December 31, 2020 $ 338 $ 59 $ 397 The following table presents a reconciliation of the beginning and ending fair value liability balance related to the 2019 restructuring effort: Severance and Other Employee Costs Lease Termination Costs Total (in thousands) Balance as of January 1, 2019 $ — $ — $ — Restructuring and other related costs 1,806 123 1,929 Cash paid (1,624) (123) (1,747) Balance as of December 31, 2019 182 — 182 Restructuring and other related costs 703 — 703 Cash paid (866) — (866) Change in estimates and non-cash charges (19) — (19) Balance as of December 31, 2020 $ — $ — $ — The following table presents a reconciliation of the beginning and ending fair value liability balance related to the May 2017 restructuring effort: Severance and Other Employee Costs Lease and Other Contract Termination Costs Asset Impairments Total (in thousands) Balance as of January 1, 2017 $ — $ — $ — $ — Restructuring and other related costs 3,483 2,939 886 7,308 Cash paid (3,060) (1,185) — (4,245) Change in estimates and non-cash charges — — (886) (886) Acceleration of stock-based compensation expense in additional paid-in capital (352) — — (352) Balance as of December 31, 2017 71 1,754 — 1,825 Restructuring and other related costs 120 89 — 209 Cash paid (188) (1,133) — (1,321) Change in estimates and non-cash charges (3) 252 — 249 Balance as of December 31, 2018 — 962 — 962 Cash paid — (183) — (183) Change in estimates and non-cash charges — (63) — (63) Balance as of December 31, 2019 — 716 — 716 Cash paid — (182) — (182) Change in estimates and non-cash charges — (63) — (63) Balance as of December 31, 2020 $ — $ 471 $ — $ 471 |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Income Tax Disclosure [Abstract] | |
Schedule of Loss from Continuing Operations Before Provision for Income Taxes | Loss from continuing operations before provision for income taxes for the Company’s domestic and international operations was as follows: For the Year Ended December 31, 2020 2019 (in thousands) U.S. $ (18,278) $ (9,877) International 446 (8,363) Loss before provision for income taxes $ (17,832) $ (18,240) |
Summary of Income Tax Provision | The income tax provision consisted of the following: For the Year Ended December 31, 2020 2019 (in thousands) Current: Federal $ 121 $ 181 Foreign 559 189 State and local 43 58 Total current income tax provision 723 428 Deferred: Federal (13) 65 Foreign 7 (6) State and local (8) (44) Total deferred income tax provision (14) 15 Income tax provision $ 709 $ 443 |
Schedule of Reconciliation of Income Taxes Provided at Federal Statutory Rate to Income Tax Provision | The following table provides a reconciliation of income taxes provided at the federal statutory rate of 21% for the years ended December 31, 2020 and 2019 to the income tax provision: For the Year Ended December 31, 2020 2019 (in thousands) U.S. income tax at federal statutory rate $ (3,745) $ (3,830) State income taxes, net of federal benefit (1,575) 238 Share-based compensation 277 2,241 Foreign tax rate differential (1,749) 374 Permanent differences 3,355 403 Tax credits — (136) Valuation allowance 3,756 1,128 Other, net 390 25 Income tax provision $ 709 $ 443 |
Schedule of Effect of Temporary Differences that Created Deferred Income Taxes | The following table provides the effect of temporary differences that created deferred income taxes as of December 31, 2020 and 2019. Deferred tax assets and liabilities represent the future effects on income taxes resulting from temporary differences and carryforwards at the end of the respective periods: December 31, 2020 2019 (in thousands) Deferred tax assets: Accrued liabilities $ 5,710 $ 6,576 Share-based compensation 864 879 Net operating loss carryforwards 84,450 81,533 Tax credits 7,310 7,410 Amortization of tax intangibles — 525 Interest 187 123 Total deferred tax assets 98,521 97,046 Deferred tax liabilities: Property and equipment (3,423) (5,037) ROU assets (3,704) (4,631) Amortization of tax intangibles (232) — Other, net (533) (583) Total deferred tax liabilities (7,892) (10,251) Net deferred tax assets 90,629 86,795 Less: valuation allowance (90,899) (87,078) Net deferred tax liabilities $ (270) $ (283) |
Schedule of Reconciliation of the Beginning and Ending Amount of Unrecognized Tax Benefits | A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows (in thousands): Balance as of January 1, 2019 $ 944 Additions based on tax positions related to the current year 20 Balance as of December 31, 2019 964 Additions based on tax positions related to the current year 12 Reductions for tax positions of prior years (11) Balance as of December 31, 2020 $ 965 |
Commitments and Contingencies (
Commitments and Contingencies (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Commitments and Contingencies Disclosure [Abstract] | |
Future Minimum Payments, Purchase Commitments | Future minimum payments under non-cancelable service contract commitments were as follows: December 31, 2020 (in thousands) 2021 $ 10,385 2022 9,699 2023 7,993 2024 821 Thereafter — Total $ 28,898 |
The Company (Details)
The Company (Details) | 12 Months Ended |
Dec. 31, 2020country | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Years of experience | 20 years |
Number of countries transacted in (more than) | 175 |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies (Details) shares in Millions, $ in Millions | 12 Months Ended | |
Dec. 31, 2020USD ($)facilitytypeshares | Dec. 31, 2019USD ($)shares | |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||
Number of leased facilities | facility | 2 | |
Asset retirement obligation | $ 1.5 | $ 1.4 |
Goodwill | 6.3 | 6.3 |
Goodwill impairment | 0 | 0 |
Impairment of long-lived assets | $ 0 | 0 |
Number of distinct performance obligation types | type | 2 | |
Period to convert to revenue | 6 months | |
Commission revenue not yet invoiced | $ 16.3 | $ 16.6 |
Potential shares of common stock, with anti-dilutive effect (in shares) | shares | 3.3 | 7.3 |
Proceeds received from grant | $ 1.3 | |
Additional proceeds expected to be received from grant | $ 0.2 | |
Selling services | ||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||
Payment term | 30 days | |
Professional services | ||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||
Contract term | 90 days | |
Fair Value, Inputs, Level 1 | ||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||
Restricted cash | $ 2.3 | $ 2.3 |
Other (Expense) Income, Net | ||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||
Foreign currency transaction losses | $ 0.9 | $ 0.7 |
Long-standing client | ||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||
Capitalized contract, amortization period | 5 years | |
Minimum | ||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||
Number of distinct performance obligation types | type | 1 | |
Minimum | Selling services | ||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||
Contract term | 1 year | |
Minimum | New client | ||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||
Capitalized contract, amortization period | 1 year | |
Minimum | New client | Software Development | ||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||
Useful life | 2 years | |
Maximum | ||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||
Number of distinct performance obligation types | type | 2 | |
Maximum | Selling services | ||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||
Contract term | 3 years | |
Maximum | New client | ||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||
Capitalized contract, amortization period | 3 years | |
Maximum | New client | Software Development | ||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||
Useful life | 7 years | |
Employee Stock Option | ||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||
Expiration period | 10 years | |
Termination period | 90 days | |
Employee Stock Option | Minimum | ||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||
Vesting period | 3 years | |
Employee Stock Option | Maximum | ||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||
Vesting period | 4 years | |
Restricted Stock Units (RSUs) | Minimum | ||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||
Vesting period | 3 years | |
Award percentages based on target achievement | 0.00% | |
Restricted Stock Units (RSUs) | Maximum | ||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||
Vesting period | 4 years | |
Award percentages based on target achievement | 150.00% |
Consolidated Financial Statem_3
Consolidated Financial Statement Details - Property and Equipment (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Property, Plant and Equipment [Line Items] | ||
Finance leases | $ 2,880 | $ 3,480 |
Property and equipment | 110,105 | 114,180 |
Less: accumulated depreciation and amortization | (80,157) | |
Less: accumulated depreciation and amortization | (78,031) | |
Property and equipment, net | 29,948 | |
Property and equipment, net | 29,948 | 36,149 |
Movement in Property, Plant and Equipment [Roll Forward] | ||
Beginning of Balance | 19,417 | 18,879 |
Capitalized costs | 5,076 | 6,340 |
Amortization expense | (7,701) | (5,802) |
Ending of Balance | 16,792 | 19,417 |
Depreciation expense related to property and equipment | 13,900 | 13,400 |
Computers and equipment | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment | 17,904 | 18,707 |
Software | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment | $ 60,771 | 63,557 |
Furniture and fixtures | ||
Property, Plant and Equipment [Line Items] | ||
Depreciable life | 7 years | |
Property and equipment | $ 10,727 | 10,041 |
Leasehold improvements | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment | $ 17,823 | $ 18,395 |
Minimum | Computers and equipment | ||
Property, Plant and Equipment [Line Items] | ||
Depreciable life | 2 years | |
Minimum | Software | ||
Property, Plant and Equipment [Line Items] | ||
Depreciable life | 2 years | |
Maximum | Computers and equipment | ||
Property, Plant and Equipment [Line Items] | ||
Depreciable life | 5 years | |
Maximum | Software | ||
Property, Plant and Equipment [Line Items] | ||
Depreciable life | 7 years |
Consolidated Financial Statem_4
Consolidated Financial Statement Details - Long Lived Assets by Geographic Area (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Property, Plant and Equipment [Line Items] | ||
Property and equipment, net | $ 29,948 | $ 36,149 |
NALA | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment, net | 24,420 | 28,283 |
APJ | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment, net | 4,456 | 6,580 |
EMEA | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment, net | $ 1,072 | $ 1,286 |
Debt - (Details)
Debt - (Details) - USD ($) $ in Thousands | 1 Months Ended | 12 Months Ended | ||
Jul. 31, 2018 | Dec. 31, 2020 | Dec. 31, 2019 | Feb. 24, 2021 | |
Line of Credit Facility [Line Items] | ||||
Revolver | $ 15,000 | $ 0 | ||
Revolving Credit Facility | Line of Credit | ||||
Line of Credit Facility [Line Items] | ||||
Revolver | $ 15,000 | |||
Line of Credit | Revolving Credit Facility | ||||
Line of Credit Facility [Line Items] | ||||
Line of credit facility, maximum borrowing capacity | $ 40,000 | |||
Effective interest rate | 2.15% | |||
Line of credit facility, remaining borrowing capacity | $ 11,200 | |||
Interest Expense, Debt | $ 500 | $ 200 | ||
Federal Funds rate | Line of Credit | Revolving Credit Facility | ||||
Line of Credit Facility [Line Items] | ||||
Basis spread of interest rate | 0.50% | |||
LIBOR | Line of Credit | Revolving Credit Facility | ||||
Line of Credit Facility [Line Items] | ||||
Basis spread of interest rate | 1.00% | |||
Base Rate | Line of Credit | Revolving Credit Facility | ||||
Line of Credit Facility [Line Items] | ||||
Basis spread of interest rate | 1.00% | |||
Eurodollar | Revolving Credit Facility | Line of Credit | Subsequent Event | ||||
Line of Credit Facility [Line Items] | ||||
Effective interest rate | 2.12% | |||
Eurodollar | Line of Credit | Revolving Credit Facility | ||||
Line of Credit Facility [Line Items] | ||||
Basis spread of interest rate | 2.00% |
Leases - Narrative (Details)
Leases - Narrative (Details) - USD ($) $ in Thousands | 2 Months Ended | 12 Months Ended | |
Feb. 24, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Lessee, Lease, Description [Line Items] | |||
Sublease income | $ 3,599 | $ 2,166 | |
Rent expense | $ 12,264 | $ 12,000 | |
Manila Office Space, Sublease One Floor | |||
Lessee, Lease, Description [Line Items] | |||
Sublease agreement, term | 22 months | ||
Manilla Office Space, Sublease Two Floors | Subsequent Event | |||
Lessee, Lease, Description [Line Items] | |||
Sublease income | $ 1,400 | ||
Maximum | |||
Lessee, Lease, Description [Line Items] | |||
Renewal term | 7 years | ||
Minimum | |||
Lessee, Lease, Description [Line Items] | |||
Renewal term | 1 year | ||
Termination period | 1 year |
Leases - Supplemental Income St
Leases - Supplemental Income Statement Information (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Leases [Abstract] | ||
Operating lease cost | $ 12,264 | $ 12,000 |
Finance lease cost: | ||
Amortization of leased assets | 744 | 709 |
Interest on lease liabilities | 88 | 163 |
Total finance lease cost | 832 | 872 |
Sublease income | (3,599) | (2,166) |
Net lease cost | $ 9,497 | $ 10,706 |
Leases - Supplemental Balance S
Leases - Supplemental Balance Sheet Information (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Operating leases: | ||
ROU assets | $ 29,798 | $ 36,396 |
Operating lease liabilities | 10,797 | 9,652 |
Operating lease liabilities, net of current portion | 25,975 | 33,716 |
Total operating lease liabilities | 36,772 | 43,368 |
Finance leases: | ||
Property and equipment | 2,880 | 3,480 |
Accumulated depreciation | (1,963) | (1,823) |
Property and equipment, net | 917 | 1,657 |
Other current liabilities | 608 | 952 |
Other long-term liabilities | 63 | 671 |
Total finance lease liabilities | $ 671 | $ 1,623 |
Leases - Lease Term and Discoun
Leases - Lease Term and Discount Rate (Details) | Dec. 31, 2020 | Dec. 31, 2019 |
Weighted-average remaining lease term (in years): | ||
Operating lease | 5 years 8 months 12 days | 5 years 10 months 24 days |
Finance lease | 1 year | 1 year 9 months 18 days |
Weighted-average discount rate: | ||
Operating lease | 6.20% | 6.40% |
Finance lease | 6.50% | 8.00% |
Leases - Maturity of Lease Liab
Leases - Maturity of Lease Liabilities (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Operating Leases | ||
2021 | $ 12,846 | |
2022 | 9,291 | |
2023 | 4,306 | |
2024 | 3,004 | |
2025 | 3,045 | |
Thereafter | 11,510 | |
Total lease payments | 44,002 | |
Less: interest | (7,230) | |
Total | 36,772 | $ 43,368 |
Operating Subleases | ||
2021 | (3,560) | |
2022 | (2,538) | |
2023 | (623) | |
2024 | 0 | |
2025 | 0 | |
Thereafter | 0 | |
Total | (6,721) | |
Finance Leases | ||
2021 | 633 | |
2022 | 64 | |
2023 | 0 | |
2024 | 0 | |
2025 | 0 | |
Thereafter | 0 | |
Total lease payments | 697 | |
Less: interest | (26) | |
Total finance lease liabilities | 671 | $ 1,623 |
Total | ||
2021 | 9,919 | |
2022 | 6,817 | |
2023 | 3,683 | |
2024 | 3,004 | |
2025 | 3,045 | |
Thereafter | 11,510 | |
Total lease payments | 37,978 | |
Less: interest | (7,256) | |
Total | $ 30,722 |
Revenue Recognition - Disaggreg
Revenue Recognition - Disaggregation of Revenue (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Disaggregation of Revenue [Line Items] | ||
Net revenue | $ 194,601 | $ 216,135 |
Variable consideration | ||
Disaggregation of Revenue [Line Items] | ||
Net revenue | 142,355 | 146,192 |
Fixed consideration | ||
Disaggregation of Revenue [Line Items] | ||
Net revenue | 52,246 | 69,943 |
NALA | ||
Disaggregation of Revenue [Line Items] | ||
Net revenue | 111,085 | 125,660 |
EMEA | ||
Disaggregation of Revenue [Line Items] | ||
Net revenue | 54,975 | 55,801 |
APJ | ||
Disaggregation of Revenue [Line Items] | ||
Net revenue | 28,541 | 34,674 |
Selling services | ||
Disaggregation of Revenue [Line Items] | ||
Net revenue | 190,906 | 213,897 |
Professional services | ||
Disaggregation of Revenue [Line Items] | ||
Net revenue | $ 3,695 | $ 2,238 |
Revenue Recognition - Narrative
Revenue Recognition - Narrative (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Revenue, Initial Application Period Cumulative Effect Transition [Line Items] | ||
Contract asset | $ 0.5 | $ 0 |
Contract liability | 0.4 | 0.8 |
Contract acquisition asset | 0.9 | 1.6 |
Amortization of contract acquisition costs | 0.8 | $ 1.3 |
Selling services | Fixed consideration | ||
Revenue, Initial Application Period Cumulative Effect Transition [Line Items] | ||
Remaining performance obligation | 35.9 | |
Professional services | Fixed consideration | ||
Revenue, Initial Application Period Cumulative Effect Transition [Line Items] | ||
Remaining performance obligation | $ 0.4 | |
Major customer 1 | Sales Revenue, Net | Customer Concentration Risk | ||
Revenue, Initial Application Period Cumulative Effect Transition [Line Items] | ||
Concentration risk | 15.00% | |
Major customer 2 | Sales Revenue, Net | Customer Concentration Risk | ||
Revenue, Initial Application Period Cumulative Effect Transition [Line Items] | ||
Concentration risk | 15.00% | |
Major customer 3 | Sales Revenue, Net | Customer Concentration Risk | ||
Revenue, Initial Application Period Cumulative Effect Transition [Line Items] | ||
Concentration risk | 11.00% | |
Major customer 4 | Sales Revenue, Net | Customer Concentration Risk | ||
Revenue, Initial Application Period Cumulative Effect Transition [Line Items] | ||
Concentration risk | 11.00% |
Stock-Based Compensation - Narr
Stock-Based Compensation - Narrative (Details) - USD ($) shares in Thousands, $ in Thousands | 1 Months Ended | 12 Months Ended | |
May 31, 2020 | Dec. 31, 2020 | Dec. 31, 2019 | |
PSUs | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Granted (in shares) | 700 | ||
Fair value of shares granted | $ 900 | ||
Award achievement performance period | 2 years | ||
PSUs | Minimum | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Number of shares received from rewards, percent | 0.00% | ||
PSUs | Maximum | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Number of shares received from rewards, percent | 150.00% | ||
Employee Stock Option | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Unrecognized compensation expense | $ 300 | ||
Unrecognized compensation expense, weighted-average period recognized | 1 year 9 months 18 days | ||
Intrinsic value of options exercised | $ 46 | $ 0 | |
Restricted Stock Units and Performance-Based Restricted Stock Units | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Granted (in shares) | 5,617 | ||
Common stock issued (in shares) | 1,845 | ||
Unrecognized, amount | $ 7,500 | ||
Unrecognized compensation expense, weighted-average period recognized | 2 years | ||
2020 Equity Incentive Plan | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Shares available for future issuance (in shares) | 3,500 |
Stock-Based Compensation - Summ
Stock-Based Compensation - Summary of Stock-Based Compensation Expense (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ||
Total stock-based compensation | $ 4,865 | $ 5,162 |
Cost of revenue | ||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ||
Total stock-based compensation | 389 | 538 |
Sales and marketing | ||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ||
Total stock-based compensation | 1,416 | 1,772 |
Research and development | ||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ||
Total stock-based compensation | 57 | 41 |
General and administrative | ||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ||
Total stock-based compensation | $ 3,003 | $ 2,811 |
Stock-Based Compensation - Su_2
Stock-Based Compensation - Summary of Valuation Assumptions (Details) - $ / shares | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Employee Stock Option | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Expected term (in years) | 5 years | 5 years |
Expected volatility | 56.00% | |
Risk-free interest rate | 0.75% | |
Expected dividend yield | 0.00% | 0.00% |
Weighted-average fair value of options granted (in dollars per share) | $ 0.63 | $ 0.47 |
Employee Stock Option | Minimum | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Expected volatility | 55.00% | |
Risk-free interest rate | 2.57% | |
Employee Stock Option | Maximum | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Expected volatility | 59.00% | |
Risk-free interest rate | 1.39% | |
ESPP | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Expected dividend yield | 0.00% | 0.00% |
ESPP | Minimum | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Expected term (in years) | 6 months | 6 months |
Expected volatility | 53.00% | 39.00% |
Risk-free interest rate | 0.12% | 1.67% |
ESPP | Maximum | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Expected term (in years) | 1 year | 1 year |
Expected volatility | 60.00% | 97.00% |
Risk-free interest rate | 1.52% | 2.47% |
Stock-Based Compensation - Su_3
Stock-Based Compensation - Summary of Option Activity (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Weighted-Average Exercise Price | ||
Fair value of options vested | $ 733 | $ 865 |
Employee Stock Option | ||
Shares | ||
Number of shares, outstanding, beginning balance (in shares) | 4,146 | |
Number of shares, granted (in shares) | 20 | |
Number of shares, options exercised (in shares) | (212) | |
Number of shares, expired and/or forfeited (in shares) | (924) | |
Number of shares, outstanding, ending balance (in shares) | 3,030 | 4,146 |
Options exercisable (in shares) | 2,437 | |
Weighted-Average Exercise Price | ||
Weighted-average exercise price, outstanding, beginning balance (in dollars per share) | $ 2.16 | |
Weighted-average exercise price, granted (in dollars per share) | 1.32 | |
Weighted-average exercise price, options exercised (in dollars per share) | 1.20 | |
Weighted-average exercise price, expired and/or forfeited (in dollars per share) | 2.60 | |
Weighted-average exercise price, outstanding, ending balance (in dollars per share) | 2.09 | $ 2.16 |
Options exercisable (in dollars per share) | $ 2.31 | |
Issued and outstanding contractual life | 5 years 1 month 24 days | |
Options exercisable contractual life | 5 years 3 months | |
Outstanding, intrinsic value | $ 1,372 | $ 1,580 |
Options exercisable, intrinsic value | 983 | |
Intrinsic value of options exercised | $ 46 | $ 0 |
Stock-Based Compensation - Su_4
Stock-Based Compensation - Summary of RSU Activity (Details) - Restricted Stock Units and Performance-Based Restricted Stock Units - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Units | ||
Number of shares, outstanding, beginning balance (in shares) | 5,305 | |
Granted (in shares) | 5,617 | |
Vested (in shares) | (1,944) | |
Forfeited (in shares) | (1,963) | |
Number of shares, outstanding, ending balance (in shares) | 7,015 | 5,305 |
Weighted-Average Grant Date Fair Value | ||
Weighted-average exercise price, outstanding, beginning balance (in dollars per share) | $ 1.88 | |
Weighted-average exercise price, granted (in dollars per share) | $ 1.43 | |
Weighted-average exercise price, options vested (in dollars per share) | 1.95 | |
Weighted-average exercise price, forfeited (in dollars per share) | 1.70 | |
Weighted-average exercise price, outstanding, ending balance (in dollars per share) | $ 1.55 | $ 1.88 |
Common stock issued (in shares) | 1,845 | |
Shares withheld for tax purposes (in shares) | 99 | |
Fair value of RSUs and PSUs vested | $ 2,940 | $ 2,076 |
Restructuring and Other Relat_3
Restructuring and Other Related Costs - Narrative (Details) $ in Thousands | 1 Months Ended | 12 Months Ended | |||
May 31, 2017location | Dec. 31, 2020USD ($) | Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | |
Restructuring Effort 2020 | |||||
Restructuring Cost and Reserve [Line Items] | |||||
Restructuring charges | $ 839 | ||||
Other additional restructuring costs | 1,000 | ||||
Restructuring Effort 2019 | |||||
Restructuring Cost and Reserve [Line Items] | |||||
Restructuring charges | $ 703 | $ 1,929 | |||
Restructuring Effort 2017 | |||||
Restructuring Cost and Reserve [Line Items] | |||||
Restructuring charges | $ 209 | $ 7,308 | |||
Number of locations where reduction of headcount and office spaces took place | location | 4 |
Restructuring and Other Relat_4
Restructuring and Other Related Costs - Restructuring and Other Reserve Activities (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Restructuring Effort 2020 | ||||
Restructuring Reserve [Roll Forward] | ||||
Beginning Balance | $ 0 | |||
Restructuring and other related costs | 839 | |||
Cash paid | (442) | |||
Ending Balance | 397 | $ 0 | ||
Restructuring Effort 2020 | Severance and Other Employee Costs | ||||
Restructuring Reserve [Roll Forward] | ||||
Beginning Balance | 0 | |||
Restructuring and other related costs | 780 | |||
Cash paid | (442) | |||
Ending Balance | 338 | 0 | ||
Restructuring Effort 2020 | Lease Termination Costs | ||||
Restructuring Reserve [Roll Forward] | ||||
Beginning Balance | 0 | |||
Restructuring and other related costs | 59 | |||
Cash paid | 0 | |||
Ending Balance | 59 | 0 | ||
Restructuring Effort 2019 | ||||
Restructuring Reserve [Roll Forward] | ||||
Beginning Balance | 182 | 0 | ||
Restructuring and other related costs | 703 | 1,929 | ||
Cash paid | (866) | (1,747) | ||
Change in estimates and non-cash charges | (19) | |||
Ending Balance | 0 | 182 | $ 0 | |
Restructuring Effort 2019 | Severance and Other Employee Costs | ||||
Restructuring Reserve [Roll Forward] | ||||
Beginning Balance | 182 | 0 | ||
Restructuring and other related costs | 703 | 1,806 | ||
Cash paid | (866) | (1,624) | ||
Change in estimates and non-cash charges | (19) | |||
Ending Balance | 0 | 182 | 0 | |
Restructuring Effort 2019 | Lease Termination Costs | ||||
Restructuring Reserve [Roll Forward] | ||||
Beginning Balance | 0 | 0 | ||
Restructuring and other related costs | 0 | 123 | ||
Cash paid | 0 | (123) | ||
Change in estimates and non-cash charges | 0 | |||
Ending Balance | 0 | 0 | 0 | |
Restructuring Effort 2017 | ||||
Restructuring Reserve [Roll Forward] | ||||
Beginning Balance | 716 | 962 | 1,825 | $ 0 |
Restructuring and other related costs | 209 | 7,308 | ||
Cash paid | (182) | (183) | (1,321) | (4,245) |
Change in estimates and non-cash charges | (63) | (63) | 249 | (886) |
Acceleration of stock-based compensation expense in additional paid-in capital | (352) | |||
Ending Balance | 471 | 716 | 962 | 1,825 |
Restructuring Effort 2017 | Severance and Other Employee Costs | ||||
Restructuring Reserve [Roll Forward] | ||||
Beginning Balance | 0 | 0 | 71 | 0 |
Restructuring and other related costs | 120 | 3,483 | ||
Cash paid | 0 | 0 | (188) | (3,060) |
Change in estimates and non-cash charges | 0 | 0 | (3) | 0 |
Acceleration of stock-based compensation expense in additional paid-in capital | (352) | |||
Ending Balance | 0 | 0 | 0 | 71 |
Restructuring Effort 2017 | Lease Termination Costs | ||||
Restructuring Reserve [Roll Forward] | ||||
Beginning Balance | 716 | 962 | 1,754 | 0 |
Restructuring and other related costs | 89 | 2,939 | ||
Cash paid | (182) | (183) | (1,133) | (1,185) |
Change in estimates and non-cash charges | (63) | (63) | 252 | 0 |
Acceleration of stock-based compensation expense in additional paid-in capital | 0 | |||
Ending Balance | 471 | 716 | 962 | 1,754 |
Restructuring Effort 2017 | Asset Impairments | ||||
Restructuring Reserve [Roll Forward] | ||||
Beginning Balance | 0 | 0 | 0 | 0 |
Restructuring and other related costs | 0 | 886 | ||
Cash paid | 0 | 0 | 0 | 0 |
Change in estimates and non-cash charges | 0 | 0 | 0 | (886) |
Acceleration of stock-based compensation expense in additional paid-in capital | 0 | |||
Ending Balance | $ 0 | $ 0 | $ 0 | $ 0 |
Income Taxes - Schedule of Loss
Income Taxes - Schedule of Loss from Continuing Operations Before Provision for Income Taxes (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Income Tax Disclosure [Abstract] | ||
U.S. | $ (18,278) | $ (9,877) |
International | 446 | (8,363) |
Loss before provision for income taxes | $ (17,832) | $ (18,240) |
Income Taxes - Summary of Incom
Income Taxes - Summary of Income Tax Provision (Details) - USD ($) $ in Thousands | 1 Months Ended | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2020 | Dec. 31, 2019 | |
Current: | |||
Federal | $ 121 | $ 181 | |
Foreign | 559 | 189 | |
State and local | 43 | 58 | |
Total current income tax provision | 723 | 428 | |
Deferred: | |||
Federal | (13) | 65 | |
Foreign | 7 | (6) | |
State and local | (8) | (44) | |
Total deferred income tax provision | (14) | 15 | |
Income tax provision | $ (200) | $ 709 | $ 443 |
Income Taxes - Schedule of Reco
Income Taxes - Schedule of Reconciliation of Income Taxes Provided at Federal Statutory Rate to Income Tax Provision (Details) - USD ($) $ in Thousands | 1 Months Ended | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2020 | Dec. 31, 2019 | |
Income Tax Disclosure [Abstract] | |||
U.S. income tax at federal statutory rate | $ (3,745) | $ (3,830) | |
State income taxes, net of federal benefit | (1,575) | 238 | |
Share-based compensation | 277 | 2,241 | |
Foreign tax rate differential | (1,749) | 374 | |
Permanent differences | 3,355 | 403 | |
Tax credits | 0 | (136) | |
Valuation allowance | 3,756 | 1,128 | |
Other, net | 390 | 25 | |
Income tax provision | $ (200) | $ 709 | $ 443 |
Income Taxes - Narrative (Detai
Income Taxes - Narrative (Details) - USD ($) $ in Thousands | 1 Months Ended | 12 Months Ended | |||||
Nov. 30, 2015 | Dec. 31, 2013 | Dec. 31, 2020 | Dec. 31, 2019 | Jan. 01, 2019 | Dec. 31, 2018 | Jan. 31, 2014 | |
Operating Loss Carryforwards [Line Items] | |||||||
Tax benefit | $ 200 | $ (709) | $ (443) | ||||
Deferred tax assets, valuation allowance | (90,899) | (87,078) | |||||
Increase (decrease) in valuation allowance | (3,800) | (1,300) | |||||
Unrecognized tax benefits | 965 | $ 964 | $ 944 | ||||
Unrecognized tax benefits that would impact effective tax rate | 0 | ||||||
Research And Development Tax Credit Carryforward | |||||||
Operating Loss Carryforwards [Line Items] | |||||||
Tax credits carryforward | 2,700 | ||||||
California Enterprise Zone Credits Expiring 2024 | |||||||
Operating Loss Carryforwards [Line Items] | |||||||
Tax credits carryforward | 500 | ||||||
Other Tax Credit Carryforward | |||||||
Operating Loss Carryforwards [Line Items] | |||||||
Tax credits carryforward | 1,300 | ||||||
Foreign Tax Authority | |||||||
Operating Loss Carryforwards [Line Items] | |||||||
Net operating loss carryforwards | 15,400 | ||||||
Net operating loss carryforwards, carried forward indefinitely | 14,600 | ||||||
Domestic Tax Authority | |||||||
Operating Loss Carryforwards [Line Items] | |||||||
Net operating loss carryforwards | 316,700 | ||||||
Net operating loss carryforwards, carried forward indefinitely | 52,000 | ||||||
Net operating loss carryforwards, subject to expiration | 264,800 | ||||||
Domestic Tax Authority | Scout | |||||||
Operating Loss Carryforwards [Line Items] | |||||||
Net operating loss carryforwards | $ 30,200 | ||||||
State and Local Jurisdiction | |||||||
Operating Loss Carryforwards [Line Items] | |||||||
Net operating loss carryforwards | 248,600 | ||||||
Malaysia | Foreign Tax Authority | |||||||
Operating Loss Carryforwards [Line Items] | |||||||
Income tax holiday period | 10 years | ||||||
California | Research And Development Tax Credit Carryforward | |||||||
Operating Loss Carryforwards [Line Items] | |||||||
Tax credits carryforward | $ 3,700 | ||||||
Philippine Economic Zone Authority | Foreign Tax Authority | |||||||
Operating Loss Carryforwards [Line Items] | |||||||
Income tax holiday period | 4 years | ||||||
ASU 2016-02 | |||||||
Operating Loss Carryforwards [Line Items] | |||||||
Deferred tax liabilities | $ 4,600 | ||||||
Deferred tax assets | $ 4,600 |
Income Taxes - Schedule of Effe
Income Taxes - Schedule of Effect of Temporary Differences that Created Deferred Income Taxes (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Deferred tax assets: | ||
Accrued liabilities | $ 5,710 | $ 6,576 |
Share-based compensation | 864 | 879 |
Net operating loss carryforwards | 84,450 | 81,533 |
Tax credits | 7,310 | 7,410 |
Amortization of tax intangibles | 0 | 525 |
Interest | 187 | 123 |
Total deferred tax assets | 98,521 | 97,046 |
Deferred tax liabilities: | ||
Property and equipment | (3,423) | (5,037) |
ROU assets | (3,704) | (4,631) |
Amortization of tax intangibles | (232) | 0 |
Other, net | (533) | (583) |
Total deferred tax liabilities | (7,892) | (10,251) |
Net deferred tax assets | 90,629 | 86,795 |
Less: valuation allowance | (90,899) | (87,078) |
Total deferred tax liabilities | $ (270) | $ (283) |
Income Taxes - Schedule of Re_2
Income Taxes - Schedule of Reconciliation of the Beginning and Ending Amount of Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | ||
Beginning balance | $ 964 | $ 944 |
Additions based on tax positions related to the current year | 12 | 20 |
Reductions for tax positions of prior years | (11) | |
Ending balance | $ 965 | $ 964 |
Employee Benefit Plan (Details)
Employee Benefit Plan (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract] | ||
Employers' discretionary contribution, amount | $ 1.3 | $ 1.5 |
Commitments and Contingencies -
Commitments and Contingencies - Narrative (Details) $ in Millions | Dec. 31, 2020USD ($)facility |
Operating Leased Assets [Line Items] | |
Number of leased facilities | facility | 2 |
Money market mutual funds | Letter of Credit | |
Operating Leased Assets [Line Items] | |
Collateral for letter of credit | $ | $ 2.3 |
Commitments and Contingencies_2
Commitments and Contingencies - Schedule of Future Minimum Payments for Purchase Commitments (Details) $ in Thousands | Dec. 31, 2020USD ($) |
Commitments and Contingencies Disclosure [Abstract] | |
2021 | $ 10,385 |
2022 | 9,699 |
2023 | 7,993 |
2024 | 821 |
Thereafter | 0 |
Total | $ 28,898 |