DEI Document
DEI Document - shares | 3 Months Ended | |
Apr. 30, 2019 | May 31, 2019 | |
Document Information [Line Items] | ||
Document Type | 10-Q | |
Document Fiscal Year Focus | 2020 | |
Amendment Flag | false | |
Document Period End Date | Apr. 30, 2019 | |
Document Fiscal Period Focus | Q1 | |
Entity Registrant Name | SMARTSHEET INC | |
Entity Central Index Key | 0001366561 | |
Current Fiscal Year End Date | --01-31 | |
Entity Filer Category | Non-accelerated Filer | |
Entity Emerging Growth Company | true | |
Entity Ex Transition Period | false | |
Entity Small Business | false | |
Common Class A | ||
Document Information [Line Items] | ||
Entity Common Stock Shares Outstanding | 74,527,425 | |
Common Class B | ||
Document Information [Line Items] | ||
Entity Common Stock Shares Outstanding | 32,037,234 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations - USD ($) shares in Thousands | 3 Months Ended | |
Apr. 30, 2019 | Apr. 30, 2018 | |
Revenue | ||
Revenues | $ 56,194,000 | $ 36,319,000 |
Cost of revenue | ||
Total cost of revenue | 10,485,000 | 7,323,000 |
Gross profit | 45,709,000 | 28,996,000 |
Operating expenses | ||
Research and development | 20,238,000 | 12,844,000 |
Sales and marketing | 35,413,000 | 22,384,000 |
General and administrative | 10,939,000 | 6,798,000 |
Total operating expenses | 66,590,000 | 42,026,000 |
Loss from operations | (20,881,000) | (13,030,000) |
Interest income (expense) and other, net | 1,037,000 | (1,300,000) |
Net loss before income tax benefit | (19,844,000) | (14,330,000) |
Income tax benefit | (35,000) | 0 |
Net loss | $ (19,809,000) | $ (14,330,000) |
Net loss per share attributable to common shareholders, basic and diluted (in usd per share) | $ (0.19) | $ (0.68) |
Weighted-average shares outstanding used to compute net loss per share attributable to common shareholders, basic and diluted (in shares) | 105,595 | 21,008 |
Subscription | ||
Revenue | ||
Revenues | $ 50,321,000 | $ 32,057,000 |
Cost of revenue | ||
Total cost of revenue | 6,201,000 | 4,236,000 |
Professional services | ||
Revenue | ||
Revenues | 5,873,000 | 4,262,000 |
Cost of revenue | ||
Total cost of revenue | $ 4,284,000 | $ 3,087,000 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands | 3 Months Ended | |
Apr. 30, 2019 | Apr. 30, 2018 | |
Statement of Comprehensive Income [Abstract] | ||
Net loss | $ (19,809) | $ (14,330) |
Other comprehensive loss: | ||
Net unrealized loss on available-for-sale securities | 0 | 0 |
Comprehensive loss | $ (19,809) | $ (14,330) |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets - USD ($) $ in Thousands | Apr. 30, 2019 | Jan. 31, 2019 |
Current assets | ||
Cash and cash equivalents | $ 208,799 | $ 213,085 |
Accounts receivable, net of allowances of $1,369 and $1,234, respectively | 33,286 | 30,173 |
Prepaid expenses and other current assets | 6,413 | 3,922 |
Total current assets | 248,498 | 247,180 |
Long-term assets | ||
Restricted cash | 862 | 2,620 |
Deferred commissions | 31,823 | 29,014 |
Property and equipment, net | 23,256 | 22,540 |
Operating lease right-of-use assets | 51,514 | |
Intangible assets, net | 1,619 | 1,827 |
Goodwill | 5,496 | 5,496 |
Other long-term assets | 169 | 67 |
Total assets | 363,237 | 308,744 |
Current liabilities | ||
Accounts payable | 4,723 | 4,658 |
Accrued compensation and related benefits | 18,071 | 25,557 |
Other accrued liabilities | 8,186 | 6,544 |
Operating lease liabilities, current | 9,423 | |
Finance lease liabilities, current | 3,410 | |
Finance lease liabilities, current | 3,768 | |
Deferred revenue | 108,759 | 95,766 |
Total current liabilities | 152,572 | 136,293 |
Operating lease liabilities, non-current | 44,571 | |
Finance lease liabilities, non-current | 1,994 | |
Finance lease liabilities, non-current | 2,164 | |
Deferred revenue, non-current | 302 | 367 |
Other long-term liabilities | 1,003 | 2,928 |
Total liabilities | 200,442 | 141,752 |
Commitments and contingencies (Note 11) | ||
Shareholders’ equity | ||
Preferred stock | 0 | 0 |
Additional paid-in capital | 343,120 | 327,510 |
Accumulated deficit | (180,325) | (160,518) |
Total shareholders’ equity | 162,795 | 166,992 |
Total liabilities, convertible preferred stock, and shareholders’ equity | 363,237 | 308,744 |
Common Class A | ||
Shareholders’ equity | ||
Common stock | 0 | 0 |
Common Class B | ||
Shareholders’ equity | ||
Common stock | $ 0 | $ 0 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands | Apr. 30, 2019 | Jan. 31, 2019 |
Accounts receivable, allowances | $ 1,369 | $ 1,234 |
Preferred stock authorized (in shares) | 10,000,000 | 10,000,000 |
Preferred stock issued (in shares) | 0 | 0 |
Preferred stock outstanding (in shares) | 0 | 0 |
Common stock authorized (in shares) | 0 | 107,679,381 |
Common stock issued (in shares) | 0 | 20,280,741 |
Common stock outstanding (in shares) | 0 | 20,280,741 |
Common Class A | ||
Common stock authorized (in shares) | 500,000,000 | 500,000,000 |
Common stock issued (in shares) | 74,179,772 | 48,003,701 |
Common stock outstanding (in shares) | 74,179,772 | 48,003,701 |
Common Class B | ||
Common stock authorized (in shares) | 500,000,000 | 500,000,000 |
Common stock issued (in shares) | 32,198,631 | 56,967,742 |
Common stock outstanding (in shares) | 32,198,631 | 56,967,742 |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Change in Convertible Preferred Stock and Shareholders' Equity (Deficit) - USD ($) $ in Thousands | Total | Common Stock (Class A and B) | Additional Paid-in Capital | Accumulated Deficit | Accumulated Other Comprehensive Income (Loss) |
Beginning balance, convertible preferred stock (in shares) at Jan. 31, 2018 | 67,619,377 | ||||
Beginning balance, convertible preferred stock at Jan. 31, 2018 | $ 112,687 | ||||
Ending balance, convertible preferred stock (in shares) at Apr. 30, 2018 | 67,619,377 | ||||
Ending balance, convertible preferred stock at Apr. 30, 2018 | $ 112,687 | ||||
Beginning balance, common stock (in shares) at Jan. 31, 2018 | 20,280,741 | ||||
Beginning balance at Jan. 31, 2018 | (80,741) | $ 0 | $ 25,892 | $ (106,633) | $ 0 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||
Stock option exercises (in shares) | 1,759,288 | ||||
Issuance of common stock under employee stock plans | 1,681 | 1,681 | |||
Share-based compensation expense | 1,842 | 1,842 | |||
Comprehensive loss | (14,330) | (14,330) | 0 | ||
Ending balance, common stock (in shares) at Apr. 30, 2018 | 22,040,029 | ||||
Ending balance at Apr. 30, 2018 | $ (91,548) | $ 0 | 29,415 | (120,963) | 0 |
Beginning balance, convertible preferred stock (in shares) at Jan. 31, 2019 | 0 | ||||
Beginning balance, convertible preferred stock at Jan. 31, 2019 | $ 0 | ||||
Ending balance, convertible preferred stock (in shares) at Apr. 30, 2019 | 0 | ||||
Ending balance, convertible preferred stock at Apr. 30, 2019 | $ 0 | ||||
Beginning balance, common stock (in shares) at Jan. 31, 2019 | 20,280,741 | 104,971,443 | |||
Beginning balance at Jan. 31, 2019 | $ 166,992 | $ 0 | 327,510 | (160,518) | 0 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||
Stock option exercises (in shares) | 1,406,960 | ||||
Issuance of common stock under employee stock plans | 9,159 | 9,159 | |||
Share-based compensation expense | 6,453 | 6,453 | |||
Comprehensive loss | $ (19,809) | (19,809) | 0 | ||
Ending balance, common stock (in shares) at Apr. 30, 2019 | 0 | 106,378,403 | |||
Ending balance at Apr. 30, 2019 | $ 162,795 | $ 0 | $ 343,122 | $ (180,327) | $ 0 |
Condensed Consolidated Statem_4
Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 3 Months Ended | |
Apr. 30, 2019 | Apr. 30, 2018 | |
Cash flows from operating activities | ||
Net loss | $ (19,809) | $ (14,330) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Share-based compensation expense | 6,296 | 1,842 |
Remeasurement of convertible preferred stock warrant liability | 0 | 1,326 |
Depreciation of property and equipment | 2,647 | 1,488 |
Amortization of deferred commission costs | 3,858 | 1,997 |
Unrealized foreign currency loss | 38 | 61 |
Amortization of intangible assets | 208 | 127 |
Amortization of operating lease right-of-use assets | 1,874 | |
Changes in operating assets and liabilities: | ||
Accounts receivable | (3,151) | (3,352) |
Prepaid expenses and other current assets | (2,698) | (956) |
Other long-term assets | (101) | (240) |
Accounts payable | 324 | 237 |
Other accrued liabilities | 1,687 | 1,508 |
Accrued compensation and related benefits | (5,265) | (2,141) |
Deferred commissions | (6,667) | (4,694) |
Other long-term liabilities | 0 | (87) |
Deferred revenue | 12,928 | 9,060 |
Operating lease liabilities | (1,354) | |
Net cash used in operating activities | (9,185) | (8,154) |
Cash flows from investing activities | ||
Purchases of property and equipment | (1,338) | (497) |
Capitalized internal-use software development costs | (1,553) | (313) |
Net cash used in investing activities | (2,891) | (810) |
Cash flows from financing activities | ||
Payments of principal on finance leases | (1,014) | (759) |
Payments of deferred offering costs | (12) | (1,495) |
Proceeds from exercise of stock options | 4,734 | 2,162 |
Proceeds from Employee Stock Purchase Plan | 2,347 | 0 |
Net cash provided by (used in) financing activities | 6,055 | (92) |
Effects of changes in foreign currency exchange rates on cash, cash equivalents and restricted cash | (23) | (25) |
Net decrease in cash, cash equivalents, and restricted cash | (6,044) | (9,081) |
Cash, cash equivalents, and restricted cash | ||
Beginning of period | 215,705 | 61,059 |
End of period | 209,661 | 51,978 |
Supplemental disclosures | ||
Cash paid for interest | 66 | 81 |
Purchases of fixed assets under finance leases | 486 | 0 |
Accrued purchases of property and equipment (including internal-use software) | 614 | 474 |
Deferred offering costs, accrued but not yet paid | 0 | 883 |
Share-based compensation expense capitalized in internal-use software development costs | $ 156 | $ 0 |
Overview and Basis of Presentat
Overview and Basis of Presentation | 3 Months Ended |
Apr. 30, 2019 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Overview and Basis of Presentation | Overview and Basis of Presentation Description of business Smartsheet Inc. (the “Company,” “we,” “our”) was incorporated in the State of Washington in 2005, and is headquartered in Bellevue, Washington. The Company is a leading cloud-based platform for work execution, enabling teams and organizations to plan, capture, manage, automate, and report on work at scale. Customers access their accounts online via a web-based interface or a mobile application. Some customers also purchase the Company ’ s professional services, which primarily consist of consulting and training services. Basis of presentation The accompanying unaudited condensed consolidated financial statements have been prepared in conformity with accounting principles generally accepted in th e United States of America (“GAAP”) , and applicable rules and regulations of the Securities and Exchange Commission (“SEC”) regarding interim financial reporting. The condensed consolidated balance sheet as of January 31, 2019 was derived from the audited consolidated financial statements as of that date but does not include all of the information and notes required by GAAP for complete financial statements. Certain information and note disclosures normally included in the financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. Therefore, these condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements in our Annual Report on Form 10-K for the year ended January 31, 2019, filed with the SEC on April 1, 2019. The condensed consolidated financial statements include the results of Smartsheet Inc. and its wholly owned subsidiaries, which are located in the United States and the United Kingdom. All intercompany balances and transactions have been eliminated upon consolidation. In the opinion of management, the information contained herein reflects all adjustments necessary for a fair presentation of our results of operations, financial position, and cash flows. All such adjustments are of a normal, recurring nature. The results of operations for the three months ended April 30, 2019 are not necessarily indicative of results to be expected for the full year ending January 31, 2020 or for any other interim period, or for any future year. Use of estimates The preparation of the consolidated financial statements in conformity with GAAP requires management to make estimates, judgments, and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the consolidated financial statements, and the reported amounts of revenue and expenses during the reporting periods. The Company bases its estimates on historical experience and on other assumptions that its management believes are reasonable under the circumstances. Actual results could differ from those estimates. The Company’s most significant estimates and judgments involve revenue recognition with respect to the allocation of transaction consideration for the Company’s offerings; determination of the amortization period for capitalized sales commission costs; capitalization of internal-use software development costs; valuation of assets and liabilities acquired as part of business combinations; and incremental borrowing rate estimates for operating leases, among others. |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 3 Months Ended |
Apr. 30, 2019 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | Summary of Significant Accounting Policies Segment information The Company operates as one operating segment. The Company’s chief operating decision maker is its Chief Executive Officer, who reviews financial information for purposes of making operating decisions, assessing financial performance, and allocating resources. Restricted cash Restricted cash as of April 30, 2019 consisted of $0.9 million primarily related to security deposits for the Company’s Bellevue, Boston, London, and Edinburgh leases. Restricted cash as of January 31, 2019 consisted of $1.8 million related to collateral for irrevocable letters of credit and $0.8 million related to security deposits. The amount of letters of credit that were outstanding as of January 31, 2019 were still in effect as of April 30, 2019 , however they are now on an unsecured basis and as such the collateral was released. Cash as reported on the condensed consolidated statements of cash flows includes the aggregate amounts of cash and cash equivalents and restricted cash as shown on the condensed consolidated balance sheets. Cash as reported on the condensed consolidated statements of cash flows consists of the following (in thousands): April 30, 2019 2018 Cash and cash equivalents $ 208,799 $ 49,657 Restricted cash 862 2,321 Total cash, cash equivalents, and restricted cash shown in the condensed consolidated statement of cash flows $ 209,661 $ 51,978 Internal-use software development costs The Company capitalizes certain qualifying costs incurred during the application development stage in connection with the development of internal-use software. Costs related to preliminary project activities and post-implementation activities are expensed in research and development (“R&D”) as incurred. R&D expenses consist primarily of employee- related costs, hardware- and software-related costs, costs of outside services used to supplement our internal staff, and overhead allocations. Internal-use software costs of $1.6 million were capitalized in the three months ended April 30, 2019, of which $1.0 million related to costs incurred during the application development stage of software development for the Company’s platform to which subscriptions are sold. Internal-use software costs of $0.2 million were capitalized in the three months ended April 30, 2018, none of which related to costs incurred during the application development stage of software development for the Company’s platform to which subscriptions are sold. Capitalized software development costs are included within property and equipment, net on the balance sheets, and are amortized over the estimated useful life of the software, which is typically three years . The related amortization expense is recognized in the condensed consolidated statements of comprehensive loss within the function that receives the benefit of the developed software. Amortization expense of capitalized internal-use software costs totaled $0.4 million and $0.2 million for the three months ended April 30, 2019 and 2018, respectively. The Company evaluates the useful lives of these assets and tests for impairment whenever events or changes in circumstances occur that could impact the recoverability of these assets. Leases We determine if an arrangement is a lease at inception, and leases are classified at commencement as either operating or finance leases. Right-of-use (“ROU”) assets and lease liabilities are recognized at commencement date based on the present value of the future minimum lease payments over the lease term. Operating lease ROU assets are presented separately in long-term assets and finance lease ROU assets are included in property and equipment, net on the condensed consolidated balance sheets. As most of our operating leases do not provide an implicit rate, we use our incremental borrowing rate in determining the present value of future payments. This rate is an estimate of the collateralized borrowing rate we would incur on our future lease payments over a similar term based on the information available at commencement date. Our lease terms may include options to extend or terminate the lease when it is reasonably certain that we will exercise that option. At April 30, 2019 we did not include any options to extend leases in our lease terms as we were not reasonably certain to exercise them. We utilize certain practical expedients and policy elections available under the lease accounting standard. For example, we do not record right-of-use assets or lease liabilities for leases with terms of 12 months or less, and we combine lease and non-lease components for contracts containing real estate leases. Right-of-use assets are subject to evaluation for impairment or disposal on a basis consistent with other long-lived assets. Concentrations of risk and significant customers Financial instruments that potentially subject the Company to concentrations of credit risk are primarily cash, cash equivalents, and accounts receivable. The Company maintains its cash accounts with financial institutions where deposits, at times, exceed the Federal Deposit Insurance Corporation (“FDIC”) limits. No individual customers represented more than 10% of accounts receivable as of April 30, 2019 or January 31, 2019 . No individual customers represented more than 10% of revenue for the three months ended April 30, 2019 or 2018 . Recently adopted accounting pronouncements We adopted Accounting Standard Update (“ASU”) 2016-02, Leases - Topic 842 (“ASC 842”) on February 1, 2019 using the optional transition method described in ASU 2018-11, Leases - Targeted Improvements . Under the optional transition method, we recognized the cumulative effect of initially applying the guidance as an adjustment to the operating lease right-of-use assets and operating lease liabilities on our condensed consolidated balance sheet on February 1, 2019 without retrospective application to comparative periods. The new lease standard requires lessees to recognize right-of-use assets and lease liabilities on the balance sheet for operating leases, and also requires additional quantitative and qualitative disclosures to enable users of the financial statements to assess the amount, timing, and uncertainty of cash flows arising from leases. In adopting ASC 842, we utilized certain practical expedients available under the standard. These practical expedients include waiving reassessment of conclusions reached under the previous lease standard as to whether contracts contain leases and not recording right-of-use assets or lease liabilities for leases with terms of 12 months or less. As a result of implementing this guidance, we recognized a $53.4 million net operating ROU asset and a $55.3 million operating lease liability, inclusive of $1.9 million previously classified as deferred rent, in our condensed consolidated balance sheet as of February 1, 2019. The adoption of ASC 842 did not have an impact on our accumulated deficit on our condensed consolidated balance sheet as of February 1, 2019 and is not expected to have a material impact on our condensed consolidated statements of operations or comprehensive loss. See Note 10, Leases , of the accompanying notes to the condensed consolidated financial statements for additional information regarding our leases. Recent accounting pronouncements not yet adopted In August 2018, the FASB issued ASU 2018-15, Intangibles - Goodwill and Other-Internal-Use Software (“ASU 2018-15”) , which aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software. This guidance is effective for interim and annual reporting periods beginning after December 15, 2019, and early adoption is permitted. The Company is currently evaluating the impacts that adoption of this ASU will have on its condensed consolidated financial statements. |
Revenue from Contracts with Cus
Revenue from Contracts with Customers | 3 Months Ended |
Apr. 30, 2019 | |
Revenue from Contract with Customer [Abstract] | |
Revenue from Contracts with Customers | Revenue from Contracts with Customers During the three months ended April 30, 2019 and 2018 , the Company recognized $39.4 million and $23.9 million of subscription revenue, respectively, and $1.8 million and $0.9 million of professional services revenue, respectively, which were included in the deferred revenue balance as of January 31, 2019 and 2018 , respectively. As of April 30, 2019, including amounts already invoiced and amounts contracted but not yet invoiced, approximately $113.7 million of revenue was expected to be recognized from remaining performance obligations, of which $111.2 million related to subscription services and $2.5 million related to professional services. Approximately 98% of revenue related to remaining performance obligations is expected to be recognized in the next 12 months. Deferred Commissions Deferred commissions were $31.8 million as of April 30, 2019 and $29.0 million as of January 31, 2019 . Amortization expense for deferred commissions was $3.9 million and $ 2.0 million for the three months ended April 30, 2019 and 2018 , respectively. Deferred commissions are amortized over a period of three years and the amortization expense is recorded in sales and marketing on the Company’s condensed consolidated statements of operations. |
Deferred Commissions
Deferred Commissions | 3 Months Ended |
Apr. 30, 2019 | |
Revenue Recognition and Deferred Revenue [Abstract] | |
Deferred Commissions | Revenue from Contracts with Customers During the three months ended April 30, 2019 and 2018 , the Company recognized $39.4 million and $23.9 million of subscription revenue, respectively, and $1.8 million and $0.9 million of professional services revenue, respectively, which were included in the deferred revenue balance as of January 31, 2019 and 2018 , respectively. As of April 30, 2019, including amounts already invoiced and amounts contracted but not yet invoiced, approximately $113.7 million of revenue was expected to be recognized from remaining performance obligations, of which $111.2 million related to subscription services and $2.5 million related to professional services. Approximately 98% of revenue related to remaining performance obligations is expected to be recognized in the next 12 months. Deferred Commissions Deferred commissions were $31.8 million as of April 30, 2019 and $29.0 million as of January 31, 2019 . Amortization expense for deferred commissions was $3.9 million and $ 2.0 million for the three months ended April 30, 2019 and 2018 , respectively. Deferred commissions are amortized over a period of three years and the amortization expense is recorded in sales and marketing on the Company’s condensed consolidated statements of operations. |
Net Loss Per Share
Net Loss Per Share | 3 Months Ended |
Apr. 30, 2019 | |
Earnings Per Share [Abstract] | |
Net Loss Per Share | Net Loss Per Share The following table presents calculations for basic and diluted net loss per share (in thousands, except per share data): Three Months Ended April 30, 2019 2018 Numerator: Net loss $ (19,809 ) $ (14,330 ) Denominator: Weighted-average common shares outstanding 105,595 21,008 Net loss per share, basic and diluted $ (0.19 ) $ (0.68 ) The following outstanding shares of common stock equivalents (in thousands) as of the periods presented were excluded from the computation of diluted net loss per share attributable to common shareholders for the periods presented because the impact of including them would have been anti-dilutive: April 30, 2019 2018 Convertible preferred shares (as converted) — 68,480 Convertible preferred stock warrant — 137 Shares subject to outstanding common stock awards 14,053 15,656 Shares issuable pursuant to the 2018 Employee Stock Purchase Plan 42 — Total potentially dilutive shares 14,095 84,273 |
Fair Value Measurements
Fair Value Measurements | 3 Months Ended |
Apr. 30, 2019 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements | Fair Value Measurements Assets and liabilities recorded at fair value in the condensed consolidated financial statements are categorized based upon the level of judgment associated with the inputs used to measure their fair value. The lowest level of significant input determines the placement of the fair value measurement within the following hierarchical levels: • Level 1: Observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets. • Level 2: Observable inputs, other than Level 1 prices, such as quoted prices for similar assets or liabilities, quoted prices in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. • Level 3: Unobservable inputs that are supported by little or no market activity. The following tables present information about the Company’s financial assets and liabilities that are measured at fair value and indicate the fair value hierarchy of the valuation inputs used (in thousands): April 30, 2019 Level 1 Level 2 Level 3 Total Assets: Cash equivalents: Money market funds $ 158,193 $ — $ — $ 158,193 Restricted cash: Certificates of deposit — — — — Total assets $ 158,193 $ — $ — $ 158,193 January 31, 2019 Level 1 Level 2 Level 3 Total Assets: Cash equivalents: Money market funds $ 203,746 $ — $ — $ 203,746 Restricted cash: Certificates of deposit — 1,775 — 1,775 Total assets $ 203,746 $ 1,775 $ — $ 205,521 The carrying amounts of certain financial instruments, including cash held in banks, accounts receivable, and accounts payable, approximate fair value due to their short-term maturities and are excluded from the fair value tables above. It is the Company’s policy to recognize transfers of assets and liabilities between levels of the fair value hierarchy at the end of a reporting period. The Company does not transfer out of Level 3 and into Level 2 until observable inputs become available and reliable. |
Goodwill and Net Intangible Ass
Goodwill and Net Intangible Assets | 3 Months Ended |
Apr. 30, 2019 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill and Net Intangible Assets | Goodwill and Net Intangible Assets On January 11, 2019, Smartsheet Inc. purchased 100% of the issued and outstanding capital stock of TernPro, Inc. (“TernPro”) in an all-cash transaction for a total purchase price of $6.0 million . As a result of this acquisition, the Company recorded goodwill of $5.2 million ; identifiable intangible assets of $0.8 million , of which $0.5 million related to acquired software technology, and $0.3 million related to customer relationships; and other net assets of less than $0.1 million . In addition, the Company recorded a long-term liability of $1.0 million related to a holdback payable on the 18-month anniversary of the closing date. There were no changes in the carrying amount of goodwill or measurement period adjustments during the three months ended April 30, 2019. The following table presents the components of net intangible assets (in thousands): April 30, 2019 January 31, 2019 Acquired software technology $ 1,866 $ 1,866 Acquired customer relationships 360 360 Patents 170 170 Domain name 13 13 Total intangible assets 2,409 2,409 Less: accumulated amortization (790 ) (582 ) Total intangible assets, net $ 1,619 $ 1,827 Amortization expense was $208 thousand and $127 thousand for the three months ended April 30, 2019 and 2018 , respectively. As of April 30, 2019, estimated remaining amortization expense for the finite-lived intangible assets by fiscal year is as follows (in thousands): 2020 (excluding the three months ended April 30, 2019) $ 577 2021 722 2022 264 2023 9 2024 8 Thereafter 26 Total $ 1,606 |
Share-Based Compensation
Share-Based Compensation | 3 Months Ended |
Apr. 30, 2019 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Share-Based Compensation | Share-Based Compensation The Company has issued incentive and non-qualifying stock options to employees and non-employee directors under the 2005 Stock Option/Restricted Stock Plan (the “2005 Plan”), the 2015 Equity Incentive Plan (the “2015 Plan”), and the 2018 Equity Incentive Plan (the “2018 Plan”). The Company has also issued RSUs to employees pursuant to the 2015 Plan and the 2018 Plan. Stock options are granted with exercise prices at the fair value of the underlying common stock on the grant date, in general vest based on continuous employment over four years, and expire 10 years from the date of grant. RSUs are measured based on the grant date fair value of the awards and in general vest based on continuous employment over four years. 2018 Employee Stock Purchase Plan In April 2018, we adopted our 2018 Employee Stock Purchase Plan (“ESPP”). The ESPP became effective on April 26, 2018, with the effective date of our initial public offering. Under our ESPP, eligible employees are able to acquire shares of our common stock by accumulating funds through payroll deductions of up to 15% of their compensation, subject to plan limitations. Purchases are accomplished through participation in discrete offering periods. Each offering period is six months (commencing each March 25 and September 25) and consists of one six -month purchase period, unless otherwise determined by our board of directors or our compensation committee. The purchase price for shares of our common stock purchased under our ESPP is 85% of the lesser of the fair market value of our common stock on (i) the first trading day of the applicable offering period or (ii) the last trading day of the purchase period in the applicable offering period. The aggregate number of shares reserved for sale under our ESPP will increase automatically on February 1 of each of the first 10 calendar years after the first offering date under the ESPP by the number of shares equal to 1% of the total outstanding shares of our Class A common stock and Class B common stock as of the immediately preceding January 31 (rounded to the nearest whole share) or such lesser number of shares as may be determined by our board of directors in any particular year. The aggregate number of shares issued over the term of our ESPP, subject to stock-splits, recapitalizations or similar events, may not exceed 20,400,000 shares of our Class A common stock. Stock options The following table includes a summary of the option activity during the three months ended April 30, 2019 : Options Outstanding Weighted-Average Exercise Price Outstanding at January 31, 2019 12,451,739 $ 5.72 Granted 600,592 38.37 Exercised and awarded (1,163,606 ) 4.13 Forfeited or canceled (103,842 ) 8.45 Outstanding at April 30, 2019 11,784,883 7.52 Exercisable at April 30, 2019 5,096,802 4.16 Restricted stock units The following table includes a summary of the RSU activity during the three months ended April 30, 2019: Number of Shares Underlying Outstanding RSUs Weighted-Average Grant-Date Fair Value per RSU Outstanding at January 31, 2019 845,199 $ 24.17 Granted 1,524,826 39.89 Vested (70,833 ) 14.15 Forfeited or canceled (31,223 ) 32.17 Outstanding at April 30, 2019 2,267,969 34.94 The following table includes a summary of shares available for issuance under our 2018 Plan and our 2018 ESPP during the three months ended April 30, 2019: Shares Available for Issuance 2018 Plan 2018 ESPP Balance at January 31, 2019 8,458,343 1,719,782 Authorized 5,248,572 1,049,714 Granted (2,125,418 ) (172,521 ) Forfeited 135,065 — Balance at April 30, 2019 11,716,562 2,596,975 As of April 30, 2019, $1.5 million has been withheld on behalf of employees for a future purchase under the ESPP and is recorded in accrued compensation and related benefits. Share-based compensation expense Share-based compensation expense included in the condensed consolidated statements of operations was as follows (in thousands): Three Months Ended April 30, 2019 2018 Cost of subscription revenue $ 235 $ 34 Cost of professional services revenue 217 47 Research and development 2,272 665 Sales and marketing 2,108 514 General and administrative 1,464 582 Total share-based compensation expense $ 6,296 $ 1,842 |
Income Taxes
Income Taxes | 3 Months Ended |
Apr. 30, 2019 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | Income Taxes The provision for income taxes for interim tax periods is generally determined using an estimate of the Company’s annual effective tax rate, excluding jurisdictions for which no tax benefit can be recognized due to valuation allowances, and adjusted for discrete tax items in the period. Each quarter the Company updates its estimate of the annual effective tax rate and makes a cumulative adjustment if the estimated annual tax rate has changed. The Company’s effective tax rate generally differs from the U.S. federal statutory tax rate primarily due to a valuation allowance related to the Company’s U.S. federal and state deferred tax assets partially offset by the windfall from share-based compensation tax deductions. The Company’s provision for income taxes for the three months ended April 30, 2019 was not significant to the Company’s operating results. The Company did no t record a provision for income taxes for the three months ended April 30, 2018 . |
Leases
Leases | 3 Months Ended |
Apr. 30, 2019 | |
Leases [Abstract] | |
Leases | Leases Leases The company has operating leases primarily related to corporate offices and certain equipment, and finance leases primarily related to data center equipment. Our leases have remaining lease terms of less than 1 year to 8 years , some of which include options to extend the leases for up to 5 years . The components of lease expense recorded in the condensed consolidated statement of operations were as follows (in thousands): Three Months Ended April 30, 2019 Operating lease cost $ 2,731 Finance lease cost: Amortization of assets 972 Interest on lease liabilities 66 Short-term lease cost 127 Variable lease cost 403 Total lease costs $ 4,299 Supplemental balance sheet information related to leases was as follows (in thousands): Financial Statement Line Item As of April 30, 2019 Assets: Operating lease assets Operating lease right-of-use assets $ 51,514 Finance lease assets Property and equipment, net 5,284 Total leased assets $ 56,798 Liabilities: Current Operating Operating lease liabilities, current $ 9,423 Finance Finance lease liabilities, current 3,410 Non-current Operating Operating lease liabilities, non-current 44,571 Finance Finance lease liabilities, non-current 1,994 Total Lease Liabilities: $ 59,398 Other information related to leases was as follows (in thousands): Three Months Ended April 30, 2019 Supplemental cash flow information: Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases* $ 2,167 Operating cash flows from finance leases 66 Financing cash flows from finance leases 1,014 Right-of-use assets obtained in exchange for lease obligations: Operating leases — Finance leases 486 Weighted-average remaining lease term (in years): Operating leases 6.6 Finance leases 1.7 Weighted-average discount rate: Operating leases 6.4 % Finance leases 4.8 % *Includes cash paid for lease liability accretion of $0.8 million . As of April 30, 2019 , remaining maturities of lease liabilities (in thousands) were as follows: Operating Leases Finance Leases Remainder of fiscal 2020 $ 7,270 $ 3,005 Fiscal 2021 9,789 2,006 Fiscal 2022 9,930 578 Fiscal 2023 10,142 — Fiscal 2024 10,371 — Thereafter 18,885 — Total lease payments $ 66,387 $ 5,589 Less: imputed interest (12,393 ) (185 ) Total $ 53,994 $ 5,404 As of April 30, 2019, we had signed leases for additional office space that had not yet commenced. Future noncancelable lease payments associated with these agreements total $10.2 million , payable over lease terms of approximately 7 years . Total rent and related operating expenses recorded under Topic 840, the previous lease standard, were approximately $1.5 million for the three months ended April 30, 2018. |
Leases | Leases Leases The company has operating leases primarily related to corporate offices and certain equipment, and finance leases primarily related to data center equipment. Our leases have remaining lease terms of less than 1 year to 8 years , some of which include options to extend the leases for up to 5 years . The components of lease expense recorded in the condensed consolidated statement of operations were as follows (in thousands): Three Months Ended April 30, 2019 Operating lease cost $ 2,731 Finance lease cost: Amortization of assets 972 Interest on lease liabilities 66 Short-term lease cost 127 Variable lease cost 403 Total lease costs $ 4,299 Supplemental balance sheet information related to leases was as follows (in thousands): Financial Statement Line Item As of April 30, 2019 Assets: Operating lease assets Operating lease right-of-use assets $ 51,514 Finance lease assets Property and equipment, net 5,284 Total leased assets $ 56,798 Liabilities: Current Operating Operating lease liabilities, current $ 9,423 Finance Finance lease liabilities, current 3,410 Non-current Operating Operating lease liabilities, non-current 44,571 Finance Finance lease liabilities, non-current 1,994 Total Lease Liabilities: $ 59,398 Other information related to leases was as follows (in thousands): Three Months Ended April 30, 2019 Supplemental cash flow information: Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases* $ 2,167 Operating cash flows from finance leases 66 Financing cash flows from finance leases 1,014 Right-of-use assets obtained in exchange for lease obligations: Operating leases — Finance leases 486 Weighted-average remaining lease term (in years): Operating leases 6.6 Finance leases 1.7 Weighted-average discount rate: Operating leases 6.4 % Finance leases 4.8 % *Includes cash paid for lease liability accretion of $0.8 million . As of April 30, 2019 , remaining maturities of lease liabilities (in thousands) were as follows: Operating Leases Finance Leases Remainder of fiscal 2020 $ 7,270 $ 3,005 Fiscal 2021 9,789 2,006 Fiscal 2022 9,930 578 Fiscal 2023 10,142 — Fiscal 2024 10,371 — Thereafter 18,885 — Total lease payments $ 66,387 $ 5,589 Less: imputed interest (12,393 ) (185 ) Total $ 53,994 $ 5,404 As of April 30, 2019, we had signed leases for additional office space that had not yet commenced. Future noncancelable lease payments associated with these agreements total $10.2 million , payable over lease terms of approximately 7 years . Total rent and related operating expenses recorded under Topic 840, the previous lease standard, were approximately $1.5 million for the three months ended April 30, 2018. |
Commitments and Contingencies
Commitments and Contingencies | 3 Months Ended |
Apr. 30, 2019 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | Commitments and Contingencies Legal matters From time to time in the normal course of business, the Company may be subject to various legal matters such as threatened or pending claims or proceedings. We are not currently a party to any material legal proceedings or claims, nor are we aware of any pending or threatened litigation or claims that could have a material adverse effect on our business, operating results, cash flows, or financial condition should such litigation or claim be resolved unfavorably. |
Geographic Information
Geographic Information | 3 Months Ended |
Apr. 30, 2019 | |
Segment Reporting [Abstract] | |
Geographic Information | Geographic Information Revenue by geographic location is determined by the location of the Company’s customers. The following table sets forth revenue (in thousands) by geographic area: Three Months Ended April 30, 2019 2018 United States $ 44,155 $ 27,139 EMEA 6,249 4,483 Asia Pacific 2,825 2,818 Americas other than the United States 2,965 1,879 Total $ 56,194 $ 36,319 No individual country other than the United States contributed more than 10% of total revenue during any of the periods presented. Property and equipment by geographic location is based on the location of the legal entity that owns the asset. As of April 30, 2019 and January 31, 2019 , there was no significant property and equipment owned by the Company outside of the United States. |
Subsequent Events
Subsequent Events | 3 Months Ended |
Apr. 30, 2019 | |
Subsequent Events [Abstract] | |
Subsequent Events | Subsequent Events On May 1, 2019, we acquired 100% of the outstanding equity of Artefact Product Group LLC (“Artefact Product Group” or “10,000ft”), a Washington limited liability company, pursuant to an Agreement and Plan of Merger (the “Merger Agreement”), dated May 1, 2019. The aggregate consideration payable in exchange for all of the outstanding equity interests of Artefact Product Group was approximately $27.5 million in cash, subject to customary adjustments set forth in the Merger Agreement. Given the timing of the closing of the acquisition, we are currently in the process of valuing the assets acquired and liabilities assumed in the acquisition. As a result, we are unable to provide the amounts recognized as of the acquisition date for the major classes of assets acquired and liabilities assumed and other disclosures. |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 3 Months Ended |
Apr. 30, 2019 | |
Accounting Policies [Abstract] | |
Basis of presentation | Basis of presentation The accompanying unaudited condensed consolidated financial statements have been prepared in conformity with accounting principles generally accepted in th e United States of America (“GAAP”) , and applicable rules and regulations of the Securities and Exchange Commission (“SEC”) regarding interim financial reporting. The condensed consolidated balance sheet as of January 31, 2019 was derived from the audited consolidated financial statements as of that date but does not include all of the information and notes required by GAAP for complete financial statements. Certain information and note disclosures normally included in the financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. Therefore, these condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements in our Annual Report on Form 10-K for the year ended January 31, 2019, filed with the SEC on April 1, 2019. The condensed consolidated financial statements include the results of Smartsheet Inc. and its wholly owned subsidiaries, which are located in the United States and the United Kingdom. All intercompany balances and transactions have been eliminated upon consolidation. In the opinion of management, the information contained herein reflects all adjustments necessary for a fair presentation of our results of operations, financial position, and cash flows. All such adjustments are of a normal, recurring nature. The results of operations for the three months ended April 30, 2019 are not necessarily indicative of results to be expected for the full year ending January 31, 2020 or for any other interim period, or for any future year. |
Use of estimates | Use of estimates The preparation of the consolidated financial statements in conformity with GAAP requires management to make estimates, judgments, and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the consolidated financial statements, and the reported amounts of revenue and expenses during the reporting periods. The Company bases its estimates on historical experience and on other assumptions that its management believes are reasonable under the circumstances. Actual results could differ from those estimates. The Company’s most significant estimates and judgments involve revenue recognition with respect to the allocation of transaction consideration for the Company’s offerings; determination of the amortization period for capitalized sales commission costs; capitalization of internal-use software development costs; valuation of assets and liabilities acquired as part of business combinations; and incremental borrowing rate estimates for operating leases, among others. |
Segment information | Segment information The Company operates as one operating segment. The Company’s chief operating decision maker is its Chief Executive Officer, who reviews financial information for purposes of making operating decisions, assessing financial performance, and allocating resources. |
Restricted cash | Restricted cash Restricted cash as of April 30, 2019 consisted of $0.9 million primarily related to security deposits for the Company’s Bellevue, Boston, London, and Edinburgh leases. Restricted cash as of January 31, 2019 consisted of $1.8 million related to collateral for irrevocable letters of credit and $0.8 million related to security deposits. The amount of letters of credit that were outstanding as of January 31, 2019 were still in effect as of April 30, 2019 , however they are now on an unsecured basis and as such the collateral was released. Cash as reported on the condensed consolidated statements of cash flows includes the aggregate amounts of cash and cash equivalents and restricted cash as shown on the condensed consolidated balance sheets. |
Internal-use software development costs | Internal-use software development costs The Company capitalizes certain qualifying costs incurred during the application development stage in connection with the development of internal-use software. Costs related to preliminary project activities and post-implementation activities are expensed in research and development (“R&D”) as incurred. R&D expenses consist primarily of employee- related costs, hardware- and software-related costs, costs of outside services used to supplement our internal staff, and overhead allocations. Internal-use software costs of $1.6 million were capitalized in the three months ended April 30, 2019, of which $1.0 million related to costs incurred during the application development stage of software development for the Company’s platform to which subscriptions are sold. Internal-use software costs of $0.2 million were capitalized in the three months ended April 30, 2018, none of which related to costs incurred during the application development stage of software development for the Company’s platform to which subscriptions are sold. Capitalized software development costs are included within property and equipment, net on the balance sheets, and are amortized over the estimated useful life of the software, which is typically three years . The related amortization expense is recognized in the condensed consolidated statements of comprehensive loss within the function that receives the benefit of the developed software. Amortization expense of capitalized internal-use software costs totaled $0.4 million and $0.2 million for the three months ended April 30, 2019 and 2018, respectively. The Company evaluates the useful lives of these assets and tests for impairment whenever events or changes in circumstances occur that could impact the recoverability of these assets. |
Leases | Leases We determine if an arrangement is a lease at inception, and leases are classified at commencement as either operating or finance leases. Right-of-use (“ROU”) assets and lease liabilities are recognized at commencement date based on the present value of the future minimum lease payments over the lease term. Operating lease ROU assets are presented separately in long-term assets and finance lease ROU assets are included in property and equipment, net on the condensed consolidated balance sheets. As most of our operating leases do not provide an implicit rate, we use our incremental borrowing rate in determining the present value of future payments. This rate is an estimate of the collateralized borrowing rate we would incur on our future lease payments over a similar term based on the information available at commencement date. Our lease terms may include options to extend or terminate the lease when it is reasonably certain that we will exercise that option. At April 30, 2019 we did not include any options to extend leases in our lease terms as we were not reasonably certain to exercise them. We utilize certain practical expedients and policy elections available under the lease accounting standard. For example, we do not record right-of-use assets or lease liabilities for leases with terms of 12 months or less, and we combine lease and non-lease components for contracts containing real estate leases. Right-of-use assets are subject to evaluation for impairment or disposal on a basis consistent with other long-lived assets. |
Concentrations of risk and significant customers | Concentrations of risk and significant customers Financial instruments that potentially subject the Company to concentrations of credit risk are primarily cash, cash equivalents, and accounts receivable. The Company maintains its cash accounts with financial institutions where deposits, at times, exceed the Federal Deposit Insurance Corporation (“FDIC”) limits. |
Recently adopted accounting pronouncements and accounting pronouncements not yet adopted | Recently adopted accounting pronouncements We adopted Accounting Standard Update (“ASU”) 2016-02, Leases - Topic 842 (“ASC 842”) on February 1, 2019 using the optional transition method described in ASU 2018-11, Leases - Targeted Improvements . Under the optional transition method, we recognized the cumulative effect of initially applying the guidance as an adjustment to the operating lease right-of-use assets and operating lease liabilities on our condensed consolidated balance sheet on February 1, 2019 without retrospective application to comparative periods. The new lease standard requires lessees to recognize right-of-use assets and lease liabilities on the balance sheet for operating leases, and also requires additional quantitative and qualitative disclosures to enable users of the financial statements to assess the amount, timing, and uncertainty of cash flows arising from leases. In adopting ASC 842, we utilized certain practical expedients available under the standard. These practical expedients include waiving reassessment of conclusions reached under the previous lease standard as to whether contracts contain leases and not recording right-of-use assets or lease liabilities for leases with terms of 12 months or less. As a result of implementing this guidance, we recognized a $53.4 million net operating ROU asset and a $55.3 million operating lease liability, inclusive of $1.9 million previously classified as deferred rent, in our condensed consolidated balance sheet as of February 1, 2019. The adoption of ASC 842 did not have an impact on our accumulated deficit on our condensed consolidated balance sheet as of February 1, 2019 and is not expected to have a material impact on our condensed consolidated statements of operations or comprehensive loss. See Note 10, Leases , of the accompanying notes to the condensed consolidated financial statements for additional information regarding our leases. Recent accounting pronouncements not yet adopted In August 2018, the FASB issued ASU 2018-15, Intangibles - Goodwill and Other-Internal-Use Software (“ASU 2018-15”) , which aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software. This guidance is effective for interim and annual reporting periods beginning after December 15, 2019, and early adoption is permitted. The Company is currently evaluating the impacts that adoption of this ASU will have on its condensed consolidated financial statements. |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies (Tables) | 3 Months Ended |
Apr. 30, 2019 | |
Accounting Policies [Abstract] | |
Schedule of Cash and Cash Equivalents | Cash as reported on the condensed consolidated statements of cash flows consists of the following (in thousands): April 30, 2019 2018 Cash and cash equivalents $ 208,799 $ 49,657 Restricted cash 862 2,321 Total cash, cash equivalents, and restricted cash shown in the condensed consolidated statement of cash flows $ 209,661 $ 51,978 |
Schedule of Restricted Cash and Cash Equivalents | Cash as reported on the condensed consolidated statements of cash flows consists of the following (in thousands): April 30, 2019 2018 Cash and cash equivalents $ 208,799 $ 49,657 Restricted cash 862 2,321 Total cash, cash equivalents, and restricted cash shown in the condensed consolidated statement of cash flows $ 209,661 $ 51,978 |
Net Loss Per Share (Tables)
Net Loss Per Share (Tables) | 3 Months Ended |
Apr. 30, 2019 | |
Earnings Per Share [Abstract] | |
Schedule of Earnings Per Share, Basic and Diluted | The following table presents calculations for basic and diluted net loss per share (in thousands, except per share data): Three Months Ended April 30, 2019 2018 Numerator: Net loss $ (19,809 ) $ (14,330 ) Denominator: Weighted-average common shares outstanding 105,595 21,008 Net loss per share, basic and diluted $ (0.19 ) $ (0.68 ) |
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share | The following outstanding shares of common stock equivalents (in thousands) as of the periods presented were excluded from the computation of diluted net loss per share attributable to common shareholders for the periods presented because the impact of including them would have been anti-dilutive: April 30, 2019 2018 Convertible preferred shares (as converted) — 68,480 Convertible preferred stock warrant — 137 Shares subject to outstanding common stock awards 14,053 15,656 Shares issuable pursuant to the 2018 Employee Stock Purchase Plan 42 — Total potentially dilutive shares 14,095 84,273 |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 3 Months Ended |
Apr. 30, 2019 | |
Fair Value Disclosures [Abstract] | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis | The following tables present information about the Company’s financial assets and liabilities that are measured at fair value and indicate the fair value hierarchy of the valuation inputs used (in thousands): April 30, 2019 Level 1 Level 2 Level 3 Total Assets: Cash equivalents: Money market funds $ 158,193 $ — $ — $ 158,193 Restricted cash: Certificates of deposit — — — — Total assets $ 158,193 $ — $ — $ 158,193 January 31, 2019 Level 1 Level 2 Level 3 Total Assets: Cash equivalents: Money market funds $ 203,746 $ — $ — $ 203,746 Restricted cash: Certificates of deposit — 1,775 — 1,775 Total assets $ 203,746 $ 1,775 $ — $ 205,521 |
Goodwill and Net Intangible A_2
Goodwill and Net Intangible Assets (Tables) | 3 Months Ended |
Apr. 30, 2019 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Schedule of Finite-Lived Intangible Assets | The following table presents the components of net intangible assets (in thousands): April 30, 2019 January 31, 2019 Acquired software technology $ 1,866 $ 1,866 Acquired customer relationships 360 360 Patents 170 170 Domain name 13 13 Total intangible assets 2,409 2,409 Less: accumulated amortization (790 ) (582 ) Total intangible assets, net $ 1,619 $ 1,827 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense | As of April 30, 2019, estimated remaining amortization expense for the finite-lived intangible assets by fiscal year is as follows (in thousands): 2020 (excluding the three months ended April 30, 2019) $ 577 2021 722 2022 264 2023 9 2024 8 Thereafter 26 Total $ 1,606 |
Share-Based Compensation (Table
Share-Based Compensation (Tables) | 3 Months Ended |
Apr. 30, 2019 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Schedule of Stock Option Activity | The following table includes a summary of the option activity during the three months ended April 30, 2019 : Options Outstanding Weighted-Average Exercise Price Outstanding at January 31, 2019 12,451,739 $ 5.72 Granted 600,592 38.37 Exercised and awarded (1,163,606 ) 4.13 Forfeited or canceled (103,842 ) 8.45 Outstanding at April 30, 2019 11,784,883 7.52 Exercisable at April 30, 2019 5,096,802 4.16 |
Schedule of Restricted Stock Units Award Activity | The following table includes a summary of the RSU activity during the three months ended April 30, 2019: Number of Shares Underlying Outstanding RSUs Weighted-Average Grant-Date Fair Value per RSU Outstanding at January 31, 2019 845,199 $ 24.17 Granted 1,524,826 39.89 Vested (70,833 ) 14.15 Forfeited or canceled (31,223 ) 32.17 Outstanding at April 30, 2019 2,267,969 34.94 |
Schedule of Shares Available for Issuance Under ESPP | The following table includes a summary of shares available for issuance under our 2018 Plan and our 2018 ESPP during the three months ended April 30, 2019: Shares Available for Issuance 2018 Plan 2018 ESPP Balance at January 31, 2019 8,458,343 1,719,782 Authorized 5,248,572 1,049,714 Granted (2,125,418 ) (172,521 ) Forfeited 135,065 — Balance at April 30, 2019 11,716,562 2,596,975 |
Schedule of Share-based Compensation Expense | Share-based compensation expense included in the condensed consolidated statements of operations was as follows (in thousands): Three Months Ended April 30, 2019 2018 Cost of subscription revenue $ 235 $ 34 Cost of professional services revenue 217 47 Research and development 2,272 665 Sales and marketing 2,108 514 General and administrative 1,464 582 Total share-based compensation expense $ 6,296 $ 1,842 |
Leases (Tables)
Leases (Tables) | 3 Months Ended |
Apr. 30, 2019 | |
Leases [Abstract] | |
Lease, Cost | The components of lease expense recorded in the condensed consolidated statement of operations were as follows (in thousands): Three Months Ended April 30, 2019 Operating lease cost $ 2,731 Finance lease cost: Amortization of assets 972 Interest on lease liabilities 66 Short-term lease cost 127 Variable lease cost 403 Total lease costs $ 4,299 Other information related to leases was as follows (in thousands): Three Months Ended April 30, 2019 Supplemental cash flow information: Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases* $ 2,167 Operating cash flows from finance leases 66 Financing cash flows from finance leases 1,014 Right-of-use assets obtained in exchange for lease obligations: Operating leases — Finance leases 486 Weighted-average remaining lease term (in years): Operating leases 6.6 Finance leases 1.7 Weighted-average discount rate: Operating leases 6.4 % Finance leases 4.8 % *Includes cash paid for lease liability accretion of $0.8 million . |
Supplemental Balance Sheet Information | Supplemental balance sheet information related to leases was as follows (in thousands): Financial Statement Line Item As of April 30, 2019 Assets: Operating lease assets Operating lease right-of-use assets $ 51,514 Finance lease assets Property and equipment, net 5,284 Total leased assets $ 56,798 Liabilities: Current Operating Operating lease liabilities, current $ 9,423 Finance Finance lease liabilities, current 3,410 Non-current Operating Operating lease liabilities, non-current 44,571 Finance Finance lease liabilities, non-current 1,994 Total Lease Liabilities: $ 59,398 |
Schedule of Future Minimum Rental Payment for Finance Leases | As of April 30, 2019 , remaining maturities of lease liabilities (in thousands) were as follows: Operating Leases Finance Leases Remainder of fiscal 2020 $ 7,270 $ 3,005 Fiscal 2021 9,789 2,006 Fiscal 2022 9,930 578 Fiscal 2023 10,142 — Fiscal 2024 10,371 — Thereafter 18,885 — Total lease payments $ 66,387 $ 5,589 Less: imputed interest (12,393 ) (185 ) Total $ 53,994 $ 5,404 |
Schedule of Future Minimum Rental Payments for Operating Leases | As of April 30, 2019 , remaining maturities of lease liabilities (in thousands) were as follows: Operating Leases Finance Leases Remainder of fiscal 2020 $ 7,270 $ 3,005 Fiscal 2021 9,789 2,006 Fiscal 2022 9,930 578 Fiscal 2023 10,142 — Fiscal 2024 10,371 — Thereafter 18,885 — Total lease payments $ 66,387 $ 5,589 Less: imputed interest (12,393 ) (185 ) Total $ 53,994 $ 5,404 |
Geographic Information (Tables)
Geographic Information (Tables) | 3 Months Ended |
Apr. 30, 2019 | |
Segment Reporting [Abstract] | |
Schedule of Revenue by Geographical Area | Revenue by geographic location is determined by the location of the Company’s customers. The following table sets forth revenue (in thousands) by geographic area: Three Months Ended April 30, 2019 2018 United States $ 44,155 $ 27,139 EMEA 6,249 4,483 Asia Pacific 2,825 2,818 Americas other than the United States 2,965 1,879 Total $ 56,194 $ 36,319 |
Summary of Significant Accoun_4
Summary of Significant Accounting Policies - Narrative (Details) | 3 Months Ended | |||
Apr. 30, 2019USD ($)segment | Apr. 30, 2018USD ($) | Feb. 01, 2019USD ($) | Jan. 31, 2019USD ($) | |
Lessee, Lease, Description [Line Items] | ||||
Number of operating segments | segment | 1 | |||
Internal use software costs capitalized | $ 1,600,000 | $ 200,000 | ||
Costs incurred during development for platform to sell subscriptions | 1,000,000 | 0 | ||
Amortization expense of capitalized internal use software costs | 400,000 | $ 200,000 | ||
Operating lease right-of-use assets | 51,514,000 | |||
Operating lease liability | 53,994,000 | |||
Bellevue, Boston, London and Edinburgh Leases | ||||
Lessee, Lease, Description [Line Items] | ||||
Security deposits | $ 900,000 | $ 800,000 | ||
Financial Standby Letter of Credit | Bellevue Lease | ||||
Lessee, Lease, Description [Line Items] | ||||
Irrevocable letters of credit | $ 1,800,000 | |||
Software | ||||
Lessee, Lease, Description [Line Items] | ||||
Software useful life | 3 years | |||
Accounting Standards Update 2016-02 | ||||
Lessee, Lease, Description [Line Items] | ||||
Operating lease right-of-use assets | $ 53,400,000 | |||
Operating lease liability | 55,300,000 | |||
Deferred rent | $ (1,900,000) |
Summary of Significant Accoun_5
Summary of Significant Accounting Policies - Schedule of Cash and Cash Equivalents (Details) - USD ($) $ in Thousands | Apr. 30, 2019 | Jan. 31, 2019 | Apr. 30, 2018 | Jan. 31, 2018 |
Accounting Policies [Abstract] | ||||
Cash and cash equivalents | $ 208,799 | $ 213,085 | $ 49,657 | |
Restricted cash | 862 | 2,321 | ||
Total cash, cash equivalents, and restricted cash shown in the condensed consolidated statement of cash flows | $ 209,661 | $ 215,705 | $ 51,978 | $ 61,059 |
Revenue from Contracts with C_2
Revenue from Contracts with Customers - Deferred Revenue (Details) - USD ($) $ in Millions | 3 Months Ended | |
Apr. 30, 2019 | Apr. 30, 2018 | |
Revenue from External Customer [Line Items] | ||
Revenue expected to be recognized from performance obligations | $ 113.7 | |
Subscription | ||
Revenue from External Customer [Line Items] | ||
Revenue recognized included in deferred revenue | 39.4 | $ 23.9 |
Revenue expected to be recognized from performance obligations | 111.2 | |
Professional services | ||
Revenue from External Customer [Line Items] | ||
Revenue recognized included in deferred revenue | 1.8 | $ 0.9 |
Revenue expected to be recognized from performance obligations | $ 2.5 |
Revenue from Contracts with C_3
Revenue from Contracts with Customers - Revenue Recognition (Details) - Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-05-01 | Apr. 30, 2019 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Percentage of revenue related to remaining performance obligations | 98.00% |
Period of expected timing of satisfaction related to remaining performance obligations | 12 months |
Deferred Commissions (Details)
Deferred Commissions (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Apr. 30, 2019 | Apr. 30, 2018 | Jan. 31, 2019 | |
Revenue Recognition and Deferred Revenue [Abstract] | |||
Deferred commissions | $ 31,823 | $ 29,014 | |
Amortization of deferred commission costs | $ 3,858 | $ 1,997 | |
Deferred commissions amortized period | 3 years |
Net Loss Per Share - Schedule o
Net Loss Per Share - Schedule of Earnings Per Share, Basic and Diluted (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | |
Apr. 30, 2019 | Apr. 30, 2018 | |
Numerator: | ||
Net loss | $ (19,809) | $ (14,330) |
Denominator: | ||
Weighted-average common shares outstanding (in shares) | 105,595 | 21,008 |
Net loss per share, basic and diluted (in dollars per share) | $ (0.19) | $ (0.68) |
Net Loss Per Share - Schedule_2
Net Loss Per Share - Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share (Details) - shares shares in Thousands | 3 Months Ended | |
Apr. 30, 2019 | Apr. 30, 2018 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Total potentially dilutive shares | 14,095 | 84,273 |
Total all series | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Total potentially dilutive shares | 0 | 68,480 |
Convertible preferred stock warrant | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Total potentially dilutive shares | 0 | 137 |
Shares subject to outstanding common stock awards | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Total potentially dilutive shares | 14,053 | 15,656 |
Shares issuable pursuant to the 2018 Employee Stock Purchase Plan | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Total potentially dilutive shares | 42 | 0 |
Fair Value Measurements - Sched
Fair Value Measurements - Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis (Details) - Fair Value, Measurements, Recurring - USD ($) $ in Thousands | Apr. 30, 2019 | Jan. 31, 2019 |
Cash equivalents: | ||
Total assets | $ 158,193 | $ 205,521 |
Level 1 | ||
Cash equivalents: | ||
Total assets | 158,193 | 203,746 |
Level 2 | ||
Cash equivalents: | ||
Total assets | 0 | 1,775 |
Level 3 | ||
Cash equivalents: | ||
Total assets | 0 | 0 |
Money market funds | ||
Cash equivalents: | ||
Cash equivalents and restricted cash | 158,193 | 203,746 |
Money market funds | Level 1 | ||
Cash equivalents: | ||
Cash equivalents and restricted cash | 158,193 | 203,746 |
Money market funds | Level 2 | ||
Cash equivalents: | ||
Cash equivalents and restricted cash | 0 | 0 |
Money market funds | Level 3 | ||
Cash equivalents: | ||
Cash equivalents and restricted cash | 0 | 0 |
Certificates of deposit | ||
Cash equivalents: | ||
Cash equivalents and restricted cash | 0 | 1,775 |
Certificates of deposit | Level 1 | ||
Cash equivalents: | ||
Cash equivalents and restricted cash | 0 | 0 |
Certificates of deposit | Level 2 | ||
Cash equivalents: | ||
Cash equivalents and restricted cash | 0 | 1,775 |
Certificates of deposit | Level 3 | ||
Cash equivalents: | ||
Cash equivalents and restricted cash | $ 0 | $ 0 |
Goodwill and Net Intangible A_3
Goodwill and Net Intangible Assets - Narrative (Details) - USD ($) $ in Thousands | Jan. 11, 2019 | Apr. 30, 2019 | Apr. 30, 2018 | Jan. 31, 2019 |
Business Acquisition [Line Items] | ||||
Goodwill | $ 5,496 | $ 5,496 | ||
Amortization expense | $ 208 | $ 127 | ||
TernPro, Inc. | ||||
Business Acquisition [Line Items] | ||||
Percent of stock acquired | 100.00% | |||
Total purchase price | $ 6,000 | |||
Goodwill | 5,200 | |||
Intangible assets | 800 | |||
Other net assets | 100 | |||
Long-term liability related to holdback | 1,000 | |||
Acquired software technology | TernPro, Inc. | ||||
Business Acquisition [Line Items] | ||||
Intangible assets | 500 | |||
Acquired customer relationships | TernPro, Inc. | ||||
Business Acquisition [Line Items] | ||||
Intangible assets | $ 300 |
Goodwill and Net Intangible A_4
Goodwill and Net Intangible Assets - Schedule of Finite-Lived Intangible Assets (Details) - USD ($) $ in Thousands | Apr. 30, 2019 | Jan. 31, 2019 |
Finite-Lived Intangible Assets [Line Items] | ||
Total intangible assets | $ 2,409 | $ 2,409 |
Less: accumulated amortization | (790) | (582) |
Total intangible assets, net | 1,619 | 1,827 |
Acquired software technology | ||
Finite-Lived Intangible Assets [Line Items] | ||
Total intangible assets | 1,866 | 1,866 |
Acquired customer relationships | ||
Finite-Lived Intangible Assets [Line Items] | ||
Total intangible assets | 360 | 360 |
Patents | ||
Finite-Lived Intangible Assets [Line Items] | ||
Total intangible assets | 170 | 170 |
Domain name | ||
Finite-Lived Intangible Assets [Line Items] | ||
Total intangible assets | $ 13 | $ 13 |
Goodwill and Net Intangible A_5
Goodwill and Net Intangible Assets - Estimated Remaining Amortization Expense (Details) $ in Thousands | Apr. 30, 2019USD ($) |
Goodwill and Intangible Assets Disclosure [Abstract] | |
2020 (excluding the three months ended April 30, 2019) | $ 577 |
2021 | 722 |
2022 | 264 |
2023 | 9 |
2024 | 8 |
Thereafter | 26 |
Total | $ 1,606 |
Share-Based Compensation - Narr
Share-Based Compensation - Narrative (Details) $ in Thousands | 3 Months Ended | ||
Apr. 30, 2019USD ($)purchase_periodshares | Apr. 30, 2018USD ($) | Jan. 31, 2019shares | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based compensation | $ | $ 6,296 | $ 1,842 | |
2018 ESPP | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Allowable payroll deduction as a percent of base cash compensation | 15.00% | ||
Offering period (in months) | 6 months | ||
Number of purchase periods | purchase_period | 1 | ||
Purchase period (in months) | 6 months | ||
Purchase price percent | 85.00% | ||
Maximum number of shares authorized (in shares) | shares | 2,596,975,000 | 1,719,782,000 | |
Share-based compensation | $ | $ 1,500 | ||
Common Class A | 2018 ESPP | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Period in which shares authorized increase | 10 years | ||
Maximum number of shares authorized (in shares) | shares | 20,400,000 | ||
Common Class A and B | 2018 ESPP | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Percent of shares outstanding | 1.00% | ||
Stock Option | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Vesting period | 4 years | ||
Expiration period | 10 years | ||
RSUs | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Vesting period | 4 years |
Share-Based Compensation - Stoc
Share-Based Compensation - Stock Options (Details) - Stock Option | 3 Months Ended |
Apr. 30, 2019$ / sharesshares | |
Options Outstanding | |
Outstanding beginning balance (in shares) | shares | 12,451,739 |
Granted (in shares) | shares | 600,592 |
Exercised and awarded (in shares) | shares | (1,163,606) |
Forfeited or canceled (in shares) | shares | (103,842) |
Outstanding ending balance (in shares) | shares | 11,784,883 |
Exercisable (in shares) | shares | 5,096,802 |
Weighted-Average Exercise Price | |
Outstanding beginning balance (in dollars per share) | $ / shares | $ 5.72 |
Granted (in dollars per share) | $ / shares | 38.37 |
Exercised and awarded (in dollars per share) | $ / shares | 4.13 |
Forfeited or canceled (in dollars per share) | $ / shares | 8.45 |
Outstanding ending balance (in dollars per share) | $ / shares | 7.52 |
Exercisable (in dollars per share) | $ / shares | $ 4.16 |
Share-Based Compensation - Rest
Share-Based Compensation - Restricted Stock Units (Details) - RSUs | 3 Months Ended |
Apr. 30, 2019$ / sharesshares | |
Number of Shares Underlying Outstanding RSUs | |
Outstanding beginning balance (in shares) | shares | 845,199 |
Granted (in shares) | shares | 1,524,826 |
Vested (in shares) | shares | (70,833) |
Forfeited or canceled (in shares) | shares | (31,223) |
Outstanding ending balance (in shares) | shares | 2,267,969 |
Weighted-Average Grant-Date Fair Value per RSU | |
Outstanding beginning balance (in dollars per share) | $ / shares | $ 24.17 |
Granted (in dollars per share) | $ / shares | 39.89 |
Vested (in dollars per share) | $ / shares | 14.15 |
Forfeited or canceled (in dollars per share) | $ / shares | 32.17 |
Outstanding ending balance (in dollars per share) | $ / shares | $ 34.94 |
Share-Based Compensation - 2018
Share-Based Compensation - 2018 Plan and 2018 Employee Stock Purchase Plan (Details) shares in Thousands | 3 Months Ended |
Apr. 30, 2019shares | |
2018 Plan | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Balance at January 31, 2019 | 8,458,343 |
Authorized | 5,248,572 |
Granted | (2,125,418) |
Forfeited | 135,065 |
Balance at April 30, 2019 | 11,716,562 |
2018 ESPP | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Balance at January 31, 2019 | 1,719,782 |
Authorized | 1,049,714 |
Granted | (172,521) |
Forfeited | 0 |
Balance at April 30, 2019 | 2,596,975 |
Share-Based Compensation - Shar
Share-Based Compensation - Share-Based Compensation Expense (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Apr. 30, 2019 | Apr. 30, 2018 | |
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ||
Share-based compensation | $ 6,296 | $ 1,842 |
Cost of subscription revenue | ||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ||
Share-based compensation | 235 | 34 |
Cost of professional services revenue | ||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ||
Share-based compensation | 217 | 47 |
Research and development | ||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ||
Share-based compensation | 2,272 | 665 |
Sales and marketing | ||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ||
Share-based compensation | 2,108 | 514 |
General and administrative | ||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ||
Share-based compensation | $ 1,464 | $ 582 |
Income Taxes (Details)
Income Taxes (Details) - USD ($) | 3 Months Ended | |
Apr. 30, 2019 | Apr. 30, 2018 | |
Income Tax Disclosure [Abstract] | ||
Income tax benefit | $ (35,000) | $ 0 |
Leases - Narrative (Details)
Leases - Narrative (Details) - USD ($) $ in Millions | 3 Months Ended | |
Apr. 30, 2019 | Apr. 30, 2018 | |
Lessee, Lease, Description [Line Items] | ||
Option to extend lease (in years) | 5 years | |
Future noncancellable lease payments | $ 10.2 | |
Term of contract for lease not yet commenced (in years) | 7 years | |
Rent expense and related expenses | $ 1.5 | |
Minimum | ||
Lessee, Lease, Description [Line Items] | ||
Remaining lease term (in years) | 1 year | |
Maximum | ||
Lessee, Lease, Description [Line Items] | ||
Remaining lease term (in years) | 8 years |
Leases - Components of Lease Ex
Leases - Components of Lease Expense (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Apr. 30, 2019 | Apr. 30, 2018 | |
Leases [Abstract] | ||
Operating lease cost | $ 2,731 | |
Finance lease cost: | ||
Amortization of assets | 972 | |
Interest on lease liabilities | 66 | |
Cash paid for interest | 66 | $ 81 |
Short-term lease cost | 127 | |
Variable lease cost | 403 | |
Total lease costs | $ 4,299 |
Leases - Supplemental Balance S
Leases - Supplemental Balance Sheet Information (Details) $ in Thousands | Apr. 30, 2019USD ($) |
Assets: | |
Operating lease assets | $ 51,514 |
Finance lease assets | 5,284 |
Total leased assets | 56,798 |
Current | |
Operating | 9,423 |
Finance | 3,410 |
Non-current | |
Operating | 44,571 |
Finance | 1,994 |
Total Lease Liabilities: | $ 59,398 |
Leases - Supplemental Cash Flow
Leases - Supplemental Cash Flow Information (Details) $ in Thousands | 3 Months Ended |
Apr. 30, 2019USD ($) | |
Cash paid for amounts included in the measurement of lease liabilities: | |
Operating cash flows from operating leases | $ 2,167 |
Operating cash flows from finance leases | 66 |
Financing cash flows from finance leases | 1,014 |
Right-of-use assets obtained in exchange for lease obligations: | |
Operating leases | 0 |
Finance leases | $ 486 |
Weighted-average remaining lease term (in years): | |
Operating leases | 6 years 7 months 6 days |
Finance leases | 1 year 8 months 12 days |
Weighted-average discount rate: | |
Operating leases | 6.40% |
Finance leases | 4.80% |
Cash paid for lease liability accretion | $ 800 |
Leases - Schedule of Future Pay
Leases - Schedule of Future Payments for Operating and Finance Leases (Details) $ in Thousands | Apr. 30, 2019USD ($) |
Operating Leases | |
Remainder of fiscal 2020 | $ 7,270 |
Fiscal 2021 | 9,789 |
Fiscal 2022 | 9,930 |
Fiscal 2023 | 10,142 |
Fiscal 2024 | 10,371 |
Thereafter | 18,885 |
Total lease payments | 66,387 |
Less: imputed interest | (12,393) |
Total | 53,994 |
Finance Leases | |
Remainder of fiscal 2020 | 3,005 |
Fiscal 2021 | 2,006 |
Fiscal 2022 | 578 |
Fiscal 2023 | 0 |
Fiscal 2024 | 0 |
Thereafter | 0 |
Total lease payments | 5,589 |
Less: imputed interest | (185) |
Total | $ 5,404 |
Geographic Information (Details
Geographic Information (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Apr. 30, 2019 | Apr. 30, 2018 | |
Revenues from External Customers and Long-Lived Assets [Line Items] | ||
Revenue | $ 56,194 | $ 36,319 |
United States | ||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||
Revenue | 44,155 | 27,139 |
EMEA | ||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||
Revenue | 6,249 | 4,483 |
Asia Pacific | ||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||
Revenue | 2,825 | 2,818 |
Americas other than the United States | ||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||
Revenue | $ 2,965 | $ 1,879 |
Subsequent Events - Narrative (
Subsequent Events - Narrative (Details) - Artefact Product Group, LLC. - Subsequent Event $ in Millions | May 01, 2019USD ($) |
Subsequent Event [Line Items] | |
Outstanding equity acquired (percentage) | 100.00% |
Aggregate consideration payable | $ 27.5 |