Document and Entity Information
Document and Entity Information - USD ($) $ in Millions | 12 Months Ended | ||
Jan. 31, 2019 | Mar. 29, 2019 | Jul. 31, 2018 | |
Class of Stock [Line Items] | |||
Entity Registrant Name | Domo, Inc. | ||
Entity Central Index Key | 0001505952 | ||
Current Fiscal Year End Date | --01-31 | ||
Entity Filer Category | Non-accelerated Filer | ||
Entity Small Business | false | ||
Entity Emerging Growth Company | true | ||
Entity Ex Transition Period | false | ||
Document Type | 10-K | ||
Document Period End Date | Jan. 31, 2019 | ||
Document Fiscal Year Focus | 2019 | ||
Document Fiscal Period Focus | FY | ||
Amendment Flag | false | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Shell Company | false | ||
Entity Public Float | $ 381.4 | ||
Class A Common Stock | |||
Class of Stock [Line Items] | |||
Entity Common Stock, Shares Outstanding | 3,263,659 | ||
Class B Common Stock | |||
Class of Stock [Line Items] | |||
Entity Common Stock, Shares Outstanding | 23,793,233 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Jan. 31, 2019 | Jan. 31, 2018 |
Current assets: | ||
Cash and cash equivalents | $ 176,973 | $ 61,972 |
Accounts receivable, net | 48,421 | 35,484 |
Contract acquisition costs, net | 10,425 | 9,661 |
Prepaid expenses and other current assets | 10,935 | 6,144 |
Total current assets | 246,754 | 113,261 |
Property and equipment, net | 12,595 | 14,952 |
Contract acquisition costs, noncurrent, net | 18,030 | 11,521 |
Intangible assets, net | 4,415 | 3,026 |
Goodwill | 9,478 | 9,478 |
Other assets | 1,360 | 3,117 |
Total assets | 292,632 | 155,355 |
Current liabilities: | ||
Accounts payable | 2,609 | 12,121 |
Accrued expenses and other current liabilities | 48,139 | 49,428 |
Deferred revenue | 88,959 | 66,712 |
Total current liabilities | 139,707 | 128,261 |
Deferred revenue, noncurrent | 4,943 | 4,244 |
Other liabilities, noncurrent | 6,210 | 5,324 |
Long-term debt | 97,245 | 46,332 |
Liabilities | 248,105 | 184,161 |
Commitments and contingencies | ||
Convertible preferred stock, $0.001 par value per share; 15,328 and no shares authorized as of January 31, 2018 and 2019, respectively; 14,099 and no shares issued and outstanding as of January 31, 2018 and 2019, respectively | 0 | 693,158 |
Stockholders' (deficit) equity: | ||
Preferred stock, $0.001 par value per share; no and 10,000 shares authorized as of January 31, 2018 and 2019, respectively; no shares issued and outstanding as of January 31, 2018 and 2019 | 0 | 0 |
Additional paid-in capital | 956,145 | 35,301 |
Accumulated other comprehensive income | 438 | 506 |
Accumulated deficit | (912,082) | (757,773) |
Total stockholders' (deficit) equity | 44,527 | (721,964) |
Total liabilities and stockholders' (deficit) equity | 292,632 | 155,355 |
Class A Common Stock | ||
Stockholders' (deficit) equity: | ||
Common stock | 3 | 0 |
Class B Common Stock | ||
Stockholders' (deficit) equity: | ||
Common stock | $ 23 | $ 2 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - $ / shares | Jan. 31, 2019 | Jan. 31, 2018 |
Convertible preferred stock, par value (in usd per share) | $ 0.001 | $ 0.001 |
Convertible preferred stock, shares authorized (shares) | 0 | 15,328,000 |
Convertible preferred stock, shares issued (shares) | 0 | 14,099,000 |
Convertible preferred stock, shares outstanding (shares) | 0 | 14,098,937 |
Preferred stock par value (in usd per share) Share | $ 0.001 | $ 0.001 |
Preferred stock authorized (shares) | 10,000,000 | 0 |
Preferred stock issued (shares) | 0 | 0 |
Preferred stock outstanding (shares) | 0 | 0 |
Class A Common Stock | ||
Common stock par value (usd per share) | $ 0.001 | $ 0.001 |
Common stock authorized (shares) | 3,700,000 | 3,700,000 |
Common stock issued (shares) | 3,263,659 | 0 |
Common stock outstanding (shares) | 3,263,659 | 0 |
Class B Common Stock | ||
Common stock par value (usd per share) | $ 0.001 | $ 0.001 |
Common stock authorized (shares) | 500,000,000 | 21,200,000 |
Common stock issued (shares) | 23,435,000 | 1,639,000 |
Common stock outstanding (shares) | 23,434,542 | 1,638,648 |
Consolidated Statements of Oper
Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands | 12 Months Ended | ||
Jan. 31, 2019 | Jan. 31, 2018 | Jan. 31, 2017 | |
Revenues [Abstract] | |||
Total revenue | $ 142,464 | $ 108,524 | $ 74,540 |
Cost of Revenue [Abstract] | |||
Total cost of revenue | 49,554 | 44,919 | 33,195 |
Gross profit | 92,910 | 63,605 | 41,345 |
Operating Expenses [Abstract] | |||
Sales and marketing | 131,081 | 131,802 | 118,935 |
Research and development | 75,740 | 78,261 | 76,164 |
General and administrative | 30,176 | 29,323 | 29,106 |
Total operating expenses | 236,997 | 239,386 | 224,205 |
Loss from operations | (144,087) | (175,781) | (182,860) |
Other income (expense), net | (8,974) | (396) | 513 |
Loss before income taxes | (153,061) | (176,177) | (182,347) |
Provision for income taxes | 1,248 | 385 | 773 |
Net loss | $ (154,309) | $ (176,562) | $ (183,120) |
Net loss per share, basic and diluted (in usd per share) | $ (9.43) | $ (110.70) | $ (124.90) |
Weighted-average number of shares used in computing net loss per share, basic and diluted (shares) | 16,358 | 1,595 | 1,466 |
Subscription | |||
Revenues [Abstract] | |||
Total revenue | $ 117,157 | $ 87,463 | $ 58,664 |
Cost of Revenue [Abstract] | |||
Total cost of revenue | 32,781 | 32,427 | 21,486 |
Professional services and other | |||
Revenues [Abstract] | |||
Total revenue | 25,307 | 21,061 | 15,876 |
Cost of Revenue [Abstract] | |||
Total cost of revenue | $ 16,773 | $ 12,492 | $ 11,709 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 31, 2019 | Jan. 31, 2018 | Jan. 31, 2017 | |
Statement of Comprehensive Income [Abstract] | |||
Net loss | $ (154,309) | $ (176,562) | $ (183,120) |
Foreign currency translation adjustments | (68) | 176 | 112 |
Comprehensive loss | $ (154,377) | $ (176,386) | $ (183,008) |
Consolidated Statements of Conv
Consolidated Statements of Convertible Preferred Stock and Stockholders' (Deficit) Equity Statement - USD ($) $ in Thousands | Total | Class A Common Stock | Class B Common Stock | Convertible Preferred Stock | Common StockClass A Common Stock | Common StockClass B Common Stock | Additional Paid-in Capital | Accumulated Other Comprehensive Income | Accumulated Deficit |
Convertible preferred stock, beginning balance (shares) at Jan. 31, 2016 | 13,288,510 | ||||||||
Convertible preferred stock, beginning balance at Jan. 31, 2016 | $ 594,187 | ||||||||
Convertible preferred stock, ending balance (shares) at Jan. 31, 2017 | 13,288,510 | ||||||||
Convertible preferred stock, ending balance at Jan. 31, 2017 | $ 594,187 | ||||||||
Stockholders (deficit) equity, beginning balance (shares) at Jan. 31, 2016 | 1,417,691 | 0 | |||||||
Stockholders (deficit) equity, beginning balance at Jan. 31, 2016 | $ (383,262) | $ 0 | $ 1 | $ 14,610 | $ 218 | $ (398,091) | |||
Increase (Decrease) in Stockholders' Equity (Deficit) [Roll Forward] | |||||||||
Exercise of stock options (shares) | 113,546 | 113,546 | |||||||
Exercise of stock options | $ 748 | $ 1 | 747 | ||||||
Stock-based compensation expense | 9,326 | 9,326 | |||||||
Foreign currency translation adjustments | 112 | 112 | |||||||
Net loss | (183,120) | $ 0 | $ (183,120) | (183,120) | |||||
Stockholders (deficit) equity, ending balance (shares) at Jan. 31, 2017 | 1,531,237 | 0 | |||||||
Stockholders (deficit) equity, ending balance at Jan. 31, 2017 | $ (556,196) | $ 0 | $ 2 | 24,683 | 330 | (581,211) | |||
Convertible preferred stock, ending balance (shares) at Jan. 31, 2018 | 14,098,937 | ||||||||
Convertible preferred stock, ending balance at Jan. 31, 2018 | $ 693,158 | ||||||||
Increase (Decrease) in Stockholders' Equity (Deficit) [Roll Forward] | |||||||||
Issuance of stock, net of offering costs (shares) | 810,427 | ||||||||
Issuance of stock, net of offering costs | $ 0 | $ 98,971 | |||||||
Exercise of stock options (shares) | 111,688 | 111,688 | |||||||
Exercise of stock options | $ 1,338 | 1,338 | |||||||
Repurchase of Class B common stock (shares) | (4,277) | ||||||||
Repurchase of Class B common stock | (121) | (121) | |||||||
Stock-based compensation expense | 9,334 | 9,334 | |||||||
Class B common stock warrant | 67 | 67 | |||||||
Foreign currency translation adjustments | 176 | 176 | |||||||
Net loss | (176,562) | $ 0 | $ (176,562) | (176,562) | |||||
Stockholders (deficit) equity, ending balance (shares) at Jan. 31, 2018 | 0 | 1,638,648 | 0 | ||||||
Stockholders (deficit) equity, ending balance at Jan. 31, 2018 | $ (721,964) | $ 0 | $ 2 | 35,301 | 506 | (757,773) | |||
Increase (Decrease) in Convertible Preferred Stock [Roll Forward] | |||||||||
Conversion of convertible preferred stock (shares) | (14,098,937) | ||||||||
Conversion of convertible preferred stock | $ (693,158) | ||||||||
Convertible preferred stock, ending balance (shares) at Jan. 31, 2019 | 0 | ||||||||
Convertible preferred stock, ending balance at Jan. 31, 2019 | $ 0 | ||||||||
Increase (Decrease) in Stockholders' Equity (Deficit) [Roll Forward] | |||||||||
Issuance of stock, net of offering costs (shares) | 10,580,000 | ||||||||
Issuance of stock, net of offering costs | 202,536 | $ 10 | 202,526 | ||||||
Conversion of convertible preferred stock (shares) | 3,263,659 | 10,835,278 | |||||||
Conversion of convertible preferred stock | 693,158 | $ 3 | $ 11 | 693,144 | |||||
Vesting of restricted stock units | $ 0 | ||||||||
Vesting of restricted stock units (shares) | 12,625 | ||||||||
Exercise of stock options (shares) | 367,991 | 367,991 | |||||||
Exercise of stock options | $ 2,250 | 2,250 | |||||||
Stock-based compensation expense | 22,291 | 22,291 | |||||||
Common stock warrants | 633 | 633 | |||||||
Foreign currency translation adjustments | (68) | (68) | |||||||
Net loss | (154,309) | $ (18,305) | $ (136,004) | (154,309) | |||||
Stockholders (deficit) equity, ending balance (shares) at Jan. 31, 2019 | 3,263,659 | 23,434,542 | |||||||
Stockholders (deficit) equity, ending balance at Jan. 31, 2019 | $ 44,527 | $ 3 | $ 23 | $ 956,145 | $ 438 | $ (912,082) |
Consolidated Statements of Co_2
Consolidated Statements of Convertible Preferred Stock and Stockholders' (Deficit) Equity (Parenthetical) - USD ($) $ in Thousands | 12 Months Ended | |
Jan. 31, 2019 | Jan. 31, 2018 | |
Statement of Stockholders' Equity [Abstract] | ||
Offering costs | $ 4,091 | $ 3,529 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 31, 2019 | Jan. 31, 2018 | Jan. 31, 2017 | |
Cash flows from operating activities | |||
Net loss | $ (154,309) | $ (176,562) | $ (183,120) |
Adjustments to reconcile net loss to net cash used in operating activities: | |||
Depreciation and amortization | 8,573 | 8,051 | 4,895 |
Amortization of intangible assets | 214 | 80 | 304 |
Amortization of contract acquisition costs | 8,168 | 9,014 | 7,782 |
Stock-based compensation expense | 21,801 | 9,370 | 9,343 |
Reversal of contingent tax-related accrual | (3,513) | 0 | 0 |
Capitalized interest | 2,293 | 202 | 0 |
Remeasurement of warrant liability | (56) | (28) | 0 |
Change in operating assets and liabilities: | |||
Accounts receivable, net | (12,937) | (13,186) | (2,802) |
Contract acquisition costs | (15,677) | (17,160) | (11,742) |
Prepaid expenses and other | (4,824) | (1,610) | (826) |
Accounts payable | (8,651) | 3,250 | 4,537 |
Accrued expenses and other liabilities | 4,605 | 8,902 | 9,613 |
Deferred revenue | 22,946 | 21,020 | 17,872 |
Net cash used in operating activities | (131,367) | (148,657) | (144,144) |
Cash flows from investing activities | |||
Purchases of property and equipment | (6,373) | (7,281) | (11,644) |
Purchases of intangible assets | (1,603) | (315) | 0 |
Issuance of note receivable | 0 | 0 | (500) |
Net cash used in investing activities | (7,976) | (7,596) | (12,144) |
Cash flows from financing activities | |||
Proceeds from initial public offering, net of underwriting discounts and commissions | 206,627 | 0 | 0 |
Payments of costs related to initial public offering | (4,053) | (38) | 0 |
Proceeds from issuance of convertible preferred stock, net of issuance costs | (87) | (4,060) | |
Proceeds from issuance of convertible preferred stock, net of issuance costs | 99,058 | ||
Debt proceeds, net of issuance costs | (112) | ||
Debt proceeds, net of issuance costs | 49,642 | 48,900 | |
Proceeds from exercise of stock options | 2,250 | 1,338 | 748 |
Repurchases of common stock | 0 | (121) | 0 |
Principal payments on capital lease obligations | (44) | (37) | (42) |
Net cash (used in) provided by financing activities | 254,335 | 149,100 | (3,466) |
Effect of exchange rate changes on cash and cash equivalents | 9 | 141 | 118 |
Net (decrease) increase in cash and cash equivalents | 115,001 | (7,012) | (159,636) |
Cash and cash equivalents at beginning of period | 61,972 | 68,984 | 228,620 |
Cash and cash equivalents at end of period | 176,973 | 61,972 | 68,984 |
Supplemental disclosures of cash flow information | |||
Cash paid for income taxes | 822 | 499 | 212 |
Cash paid for interest | 6,903 | 314 | 26 |
Non-cash investing and financing activities | |||
Stock-based compensation capitalized as internal-use software | 528 | 0 | 0 |
Debt issuance costs in accounts payable, accrued liabilities and other liabilities, noncurrent | 1,993 | 2,726 | 0 |
Deferred initial public offering costs in accounts payable and accrued liabilities | 0 | 1,675 | 0 |
Issuance of warrants in connection with credit facility | 673 | 257 | 0 |
Convertible preferred stock issuance costs in accounts payable and accrued liabilities | 0 | 87 | 0 |
Conversion of convertible preferred stock to common stock | $ 693,158 | $ 0 | $ 0 |
Overview and Basis of Presentat
Overview and Basis of Presentation | 12 Months Ended |
Jan. 31, 2019 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Overview and Basis of Presentation | Overview and Basis of Presentation Description of Business and Basis of Presentation Domo, Inc. (the Company) provides a cloud-based platform that digitally connects everyone from the CEO to the frontline employee with all the people, data and systems in an organization, giving them access to real-time data and insights and allowing them to manage their business from their smartphones. The Company is incorporated in Delaware. The Company's headquarters are located in American Fork, Utah and the Company has subsidiaries in the United Kingdom, Australia, Japan, Hong Kong, Singapore, New Zealand, and Canada. The accompanying consolidated financial statements, which include the accounts of the Company and its wholly owned subsidiaries, have been prepared in conformity with accounting principles generally accepted in the United States of America or GAAP. All intercompany balances and transactions have been eliminated in consolidation. The Company’s fiscal year ends on January 31. Initial Public Offering On July 3, 2018, the Company closed its initial public offering (IPO), in which the Company issued and sold 10,580,000 shares (inclusive of the underwriters' over-allotment option to purchase 1,380,000 shares, which was exercised on June 29, 2018) of Class B common stock at $21.00 per share. The Company received aggregate proceeds of $206.6 million , net of underwriters' discounts and commissions, before deducting offering costs of $4.1 million . Immediately prior to the closing of the Company’s IPO, 14,098,937 shares of convertible preferred stock outstanding converted into 3,263,659 shares of Class A common stock and 10,835,278 shares of Class B common stock. Upon the effectiveness of the registration statement for the Company's IPO, which was June 28, 2018, the liquidity event-related performance vesting condition associated with restricted stock units (RSUs) granted prior to the IPO was deemed probable of being satisfied. As a result, the Company recognized stock-based compensation related to these RSUs of $6.6 million attributable to service prior to such effective date. Stock Split On June 15, 2018, the Company amended its amended and restated certificate of incorporation to effect a 15-to-one reverse stock split of its common stock and convertible preferred stock. All of the share and per share information referenced throughout the consolidated financial statements and notes to the consolidated financial statements have been retroactively adjusted to reflect this reverse stock split. 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 amounts reported in the consolidated financial statements and the accompanying notes. 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 estimates and judgments include the determination of standalone selling prices for the Company’s services, which are used to determine revenue recognition for arrangements with multiple performance obligations; the amortization period for deferred contract acquisition costs; valuation of the Company’s stock-based compensation, including the underlying estimated fair value of common stock in periods prior to the date of the Company's IPO; useful lives of fixed assets; capitalization and estimated useful life of internal-use software; valuation estimates used when evaluating impairment of long-lived and intangible assets including goodwill; and the allowance for doubtful accounts. Foreign Currency The functional currencies of the Company’s foreign subsidiaries are the respective local currencies. The cumulative effect of translation adjustments arising from the use of differing exchange rates from period to period is included in accumulated other comprehensive income within the consolidated balance sheets. Changes in the cumulative foreign translation adjustment are reported in the consolidated statements of convertible preferred stock and stockholders’ (deficit) equity and the consolidated statements of comprehensive loss. Transactions denominated in currencies other than the functional currency are remeasured at the end of the period and when the related receivable or payable is settled, which may result in transaction gains or losses. Foreign currency transaction gains and losses are included in other income (expense), net in the consolidated statements of operations and were not material for the years ended January 31, 2017, 2018 and 2019 . All assets and liabilities denominated in a foreign currency are translated into U.S. dollars at the exchange rate on the balance sheet date. Revenue and expenses are translated at the average exchange rate during the period, and equity balances are translated using historical exchange rates. 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 presented on a consolidated basis for purposes of making operating decisions, assessing financial performance and allocating resources. |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Jan. 31, 2019 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | Summary of Significant Accounting Policies Cash and Cash Equivalents Cash and cash equivalents consist of cash on hand and money market funds. The fair value of cash equivalents approximated their carrying value as of January 31, 2018 and January 31, 2019 . Accounts Receivable and Allowance for Doubtful Accounts Accounts receivable are recorded at the invoiced amount (net of allowances), do not require collateral, and do not bear interest. The Company’s payment terms generally provide that customers pay within 30 days of the invoice date. The Company maintains an allowance for doubtful accounts for amounts the Company does not expect to collect. In establishing the required allowance, management considers historical losses, current market conditions, customers’ financial condition, the age of the receivables, and current payment patterns. Account balances are written off against the allowance after all means of collection have been exhausted and the potential for recovery is considered remote. Changes in the Company's allowance for doubtful accounts for the years ended January 31, 2017, 2018 and 2019 were as follows (in thousands): Beginning balance $ 771 Additions 3,519 Write-offs (2,710 ) Balance as of January 31, 2017 1,580 Additions 5,003 Write-offs (3,664 ) Balance as of January 31, 2018 2,919 Additions 5,033 Write-offs (4,565 ) Balance as of January 31, 2019 $ 3,387 Contract Acquisition Costs Contract acquisition costs, net are stated at cost net of accumulated amortization and primarily consist of deferred sales commissions, which are considered incremental and recoverable costs of obtaining a contract with a customer. Contract acquisition costs for initial contracts are deferred and then amortized on a straight-line basis over the period of benefit, which the Company has determined to be approximately four years . The period of benefit is determined by taking into consideration contractual terms, expected customer life, changes in the Company's technology and other factors. Contract acquisition costs for renewal contracts are not commensurate with contract acquisition costs for initial contracts and are recorded as expense when incurred if the period of benefit is one year or less. If the period of benefit is greater than one year, costs are deferred and then amortized on a straight-line basis over the period of benefit. Contract acquisition costs related to professional services and other performance obligations with a period of benefit of one year or less are recorded as expense when incurred. Amortization of contract acquisition costs is included in sales and marketing expenses in the accompanying consolidated statements of operations. Amortization expense related to contract acquisition costs was $7.8 million , $9.0 million and $8.2 million for the years ended January 31, 2017, 2018 and 2019 , respectively. There was no impairment charge in relation to contract acquisition costs for the periods presented. Deferred Offering Costs The Company capitalized qualified legal, accounting and other direct costs related to the IPO. As of January 31, 2018 , the balance of deferred offering costs was $1.7 million , which was included in other assets in the consolidated balance sheets. During the year ended January 31, 2019 , the Company reclassified $4.2 million of offering costs into stockholders’ equity as a reduction of the net proceeds received from the IPO. As of January 31, 2019 , there were no deferred offering costs. Property and Equipment Property and equipment, net, are stated at cost less accumulated depreciation. Depreciation is calculated using the straight-line method over the estimated useful lives of the assets or over the related lease terms (if shorter). Repairs and maintenance costs are expensed as incurred. The estimated useful lives of property and equipment are as follows: Computer equipment and software 2-3 years Furniture, vehicles and office equipment 3 years Leasehold improvements Shorter of remaining lease term or estimated useful life Capitalized Internal-Use Software Costs The Company capitalizes certain costs related to development of its platform incurred during the application development stage. Costs related to preliminary project activities and post-implementation activities are expensed as incurred. Maintenance and training costs are also expensed as incurred. Capitalized costs are included in property and equipment. Capitalized internal-use software is amortized as subscription cost of revenue on a straight-line basis over its estimated useful life, which is generally three years . Management evaluates the useful lives of these assets on an annual basis and tests for impairment whenever events or changes in circumstances occur that could impact the recoverability of these assets. Goodwill and Intangible Assets Goodwill represents the excess of the purchase price in a business combination over the fair value of net tangible and intangible assets acquired. Goodwill and indefinite-lived intangible assets are not amortized, but rather tested for impairment at least annually on November 1 or more often if and when circumstances indicate that the carrying value may not be recoverable. Finite-lived intangible assets are amortized over their useful lives. Goodwill is tested for impairment based on reporting units. The Company periodically reevaluates the business and has determined that it continues to operate in one segment, which is also considered the sole reporting unit. Therefore, goodwill is tested for impairment at the consolidated level. The Company reviews its long-lived assets, including property and equipment and finite-lived intangible assets, for impairment whenever an event or change in facts and circumstances indicates that their carrying amounts may not be recoverable. Recoverability of these assets is measured by comparing the carrying amount to the estimated undiscounted future cash flows expected to be generated. If the carrying amount exceeds the undiscounted cash flows, the assets are determined to be impaired and an impairment charge is recognized as the amount by which the carrying amount exceeds fair value. There was no goodwill acquired and no impairment charges for goodwill or long-lived assets recorded during the periods presented. Revenue Recognition The Company derives revenue primarily from subscriptions to its cloud-based platform and professional services. Revenue is recognized when control of these services is transferred to customers in an amount that reflects the consideration to which the Company expects to be entitled to in exchange for those services, net of sales taxes. For sales through channel partners, the Company considers the channel partner to be the end customer for the purposes of revenue recognition as the Company's contractual relationships with channel partners do not depend on the sale of the Company's services to their customers and payment from the channel partner is not contingent on receiving payment from their customers. The Company's contractual relationships with channel partners do not allow returns, rebates, or price concessions. The price of subscriptions is generally fixed at contract inception and therefore, the Company's contracts do not contain a significant amount of variable consideration. Revenue recognition is determined through the following steps: • Identification of the contract, or contracts, with a customer • Identification of the performance obligations in the contract • Determination of the transaction price • Allocation of the transaction price to the performance obligations in the contract • Recognition of revenue when, or as, performance obligations are satisfied Subscription Revenue Subscription revenue primarily consists of fees paid by customers to access the Company’s cloud-based platform, including support services. The Company's subscription agreements generally have annual contractual terms and a smaller percentage have multi-year contractual terms. Revenue is recognized ratably over the related contractual term beginning on the date that the platform is made available to a customer. Access to the platform represents a series of distinct services as the Company continually provides access to and fulfills its obligation to the end customer over the subscription term. The series of distinct services represents a single performance obligation that is satisfied over time. The Company recognizes revenue ratably because the customer receives and consumes the benefits of the platform throughout the contract period. The Company's contracts are generally non-cancelable. Professional Services and Other Revenue Professional services revenue consists of implementation services sold with new subscriptions as well as professional services sold separately. Other revenue includes training and education. Professional services arrangements are billed in advance, and revenue from these arrangements is recognized as the services are provided, generally based on hours incurred. Training and education revenue is also recognized as the services are provided. Contracts with Multiple Performance Obligations Most of the Company's contracts with new customers contain multiple performance obligations, generally consisting of subscriptions and professional services. For these contracts, individual performance obligations are accounted for separately if they are distinct. The transaction price is allocated to the separate performance obligations on a relative standalone selling price basis. Standalone selling prices are determined based on historical standalone selling prices, taking into consideration overall pricing objectives, market conditions and other factors, including contract value, customer demographics and the number and types of users within the contract. Deferred Revenue The Company's contracts are typically billed annually in advance. Deferred revenue includes amounts collected or billed in excess of revenue recognized. Deferred revenue is recognized as revenue as the related performance obligations are satisfied. Deferred revenue that will be recognized during the succeeding twelve-month period is recorded as a current liability and the remaining portion is recorded as a noncurrent liability. Cost of Revenue Cost of subscription revenue consists primarily of third-party hosting services and data center capacity; employee-related costs directly associated with cloud infrastructure and customer support personnel, including salaries, benefits, bonuses and stock-based compensation; amortization expense associated with capitalized software development costs; depreciation expense associated with computer equipment and software; certain fees paid to various third parties for the use of their technology and services; and allocated overhead. Allocated overhead includes items such as information technology infrastructure, rent, and employee benefit costs. Cost of professional services and other revenue consists primarily of employee-related costs associated with these services, including stock-based compensation; third-party consultant fees; and allocated overhead. Advertising Costs Advertising costs are expensed as incurred. Advertising expense was $17.8 million , $26.4 million and $13.7 million for the years ended January 31, 2017, 2018 and 2019 , respectively. Research and Development Research and development expenses consist primarily of employee-related costs for the design and development of the Company's platform, contractor costs to supplement staff levels, third-party web services, consulting services, and allocated overhead. Research and development expenses, other than software development costs qualifying for capitalization, are expensed as incurred. Stock-Based Compensation The Company records stock-based compensation based on the grant date fair value of the awards, which include stock options and restricted stock units, and recognizes the fair value of those awards as expense using the straight-line method over the requisite service period of the award. For restricted stock units that contain performance conditions, the Company recognizes expense using the accelerated attribution method if it is probable the performance conditions will be met. The Company estimates the grant date fair value of stock options using the Black-Scholes option-pricing model. Stock-based compensation expense related to purchase rights issued under the 2018 Employee Stock Purchase Plan (ESPP) is based on the Black-Scholes option-pricing model fair value of the estimated number of awards as of the beginning of the offering period. Stock-based compensation expense is recognized using the straight-line method over the offering period. The determination of the grant date fair value of stock-based awards is affected by the estimated fair value of the Company's common stock as well as other assumptions and judgments, which are estimated as follows: • Fair Value Per Share of Common Stock . Because there was no public market for the Company's common stock prior to the IPO, the board of directors determined the common stock fair value at the grant date by considering numerous objective and subjective factors, including contemporaneous valuations of the Company’s common stock, actual operating and financial performance, market conditions, and performance of comparable publicly traded companies, business developments, the likelihood of achieving a liquidity event, and transactions involving preferred and common stock, among other factors. Subsequent to the IPO, the Company determines the fair value of common stock as of each grant date using the market closing price of the Company's Class B common stock on the date of grant. • Expected Term . The expected term is determined using the simplified method, which is calculated as the midpoint of the option’s contractual term and vesting period. The Company uses this method due to limited stock option exercise history. For the ESPP, the expected term is the beginning of the offering period to the end of each purchase period. • Expected Volatility . Since a public market for the Company's common stock did not exist prior to the IPO and, therefore, the Company does not have sufficient trading history of its common stock, expected volatility is estimated based on the volatility of similar publicly held companies over a period equivalent to the expected term of the awards. • Risk-free Interest Rate . The risk-free interest rate is determined using U.S. Treasury rates with a similar term as the expected term of the option. • Expected Dividend Yield . The Company has never declared or paid any cash dividends and does not presently plan to pay cash dividends in the foreseeable future. Consequently, the Company uses an expected dividend yield of zero. Income Taxes The Company accounts for income taxes in accordance with the liability method of accounting for income taxes. Under this method, the Company recognizes a liability or asset for the deferred income tax consequences of all temporary differences between the tax basis of assets and liabilities and their reported amounts in the consolidated financial statements that will result in taxable or deductible amounts in future years when the reported amounts of the assets and liabilities are recovered or settled. These deferred income tax assets or liabilities are measured using the enacted tax rates that will be in effect when the differences are expected to affect taxable income. Valuation allowances are provided when it is more-likely-than-not that some or all of the deferred income tax assets may not be realized. In assessing the need for a valuation allowance, the Company has considered its historical levels of income, expectations of future taxable income and ongoing tax planning strategies. Because of the uncertainty of the realization of its deferred tax assets, the Company has a full valuation allowance for domestic net deferred tax assets, including net operating loss carryforwards, and tax credits related primarily to research and development. Realization of its deferred tax assets is dependent primarily upon future U.S. taxable income. Tax positions are recognized in the consolidated financial statements when it is more-likely-than-not the position will be sustained upon examination by the tax authorities. The Company’s policy for recording interest and penalties related to income taxes, including uncertain tax positions, is to record such items as a component of the provision for income taxes. Concentrations of Risk and Significant Customers Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents and accounts receivable. The Company maintains its cash and cash equivalents in bank accounts, which at times may exceed federally insured limits. The Company has not experienced any losses in these instruments and believes it is not exposed to any significant risk with respect to cash and cash equivalents. No single customer accounted for more than 10% of revenue for the years ended January 31, 2017, 2018 and 2019 or more than 10% of accounts receivable as of January 31, 2018 and January 31, 2019 . The Company is primarily dependent upon third parties in order to meet the uptime and performance requirements of its customers. Any disruption of or interference with the Company's use of these third parties would impact operations. Net Loss per Share The Company computes net loss per share using the two-class method required for multiple classes of common stock and participating securities. The rights, including the liquidation and dividend rights, of the Class A common stock and Class B common stock are substantially identical, other than voting rights. Accordingly, the Class A common stock and Class B common stock share equally in the Company’s net losses. Before the IPO, the Company’s participating securities also included convertible preferred stock. The holders of convertible preferred stock did not have a contractual obligation to share in the Company’s losses, and as a result net losses were not allocated to these participating securities. Basic net loss per share is computed by dividing net loss by the weighted-average number of shares of common stock outstanding during the period. Diluted net loss per share is computed by dividing net loss attributable to common stockholders by the weighted-average number of shares of common stock outstanding during the period increased by common shares that could be issued upon conversion or exercise of other outstanding securities to the extent those additional common shares would be dilutive. The dilutive effect of potentially dilutive securities is reflected in diluted net loss per share by application of the treasury stock method. During periods when the Company is in a net loss position, basic net loss per share is the same as diluted net loss per share as the effects of potentially dilutive securities are anti-dilutive. Recently Adopted Accounting Pronouncements ASU No. 2014-09 In May 2014, the Financial Accounting Standards Board or FASB issued Accounting Standards Update or ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606). Topic 606 establishes a principle for recognizing revenue upon the transfer of promised goods or services to customers in an amount that reflects the considerations to which the entity expects to be entitled to in exchange for those goods or services. ASU No. 2014-09 also added Subtopic 340-40, Other Assets and Deferred Costs - Contracts with Customers , which requires the deferral of incremental costs of obtaining a contract with a customer. Topic 606 and Subtopic 340-40 are collectively referred to herein as the "new standard." The Company elected to early adopt the requirements of the new standard as of February 1, 2017 with an initial application date of February 1, 2016, utilizing the full retrospective method of transition. The primary impact of adopting the new standard is the deferral of incremental costs of obtaining subscription contracts. Prior to adopting the new standard, deferral of commissions was not required and the Company's policy was to expense commission costs as incurred. Under the new standard, all incremental costs to obtain the contract are deferred if the period of benefit is greater than one year. These costs are amortized on a straight-line basis over the period of benefit, the determination of which is discussed in the contract acquisition costs policy above. ASU No. 2016-09 In March 2016, the FASB issued ASU No. 2016-09, Compensation—Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting , which simplifies and improves several aspects of the accounting for employee share-based payment transactions such as the income tax consequences, classification of awards as either equity or liabilities on the balance sheet, and classification of employee taxes paid on statement of cash flows when an employer withholds shares for tax-withholding purposes. The standard also provides an accounting policy election to account for forfeitures as they occur. The Company elected to early adopt ASU 2016-09 as of February 1, 2016, and as part of the adoption elected to account for forfeitures as they occur. Therefore, stock-based compensation expense for the years ended January 31, 2017, 2018 and 2019 has been calculated based on actual forfeitures in the consolidated statements of operations, rather than the previous approach, which was net of estimated forfeitures. The net cumulative effect of this change of $0.6 million was recorded as a reduction to paid-in capital and accumulated deficit as of February 1, 2016. The other aspects of ASU 2016-09 did not have a material impact on the Company's consolidated financial statements. Recently Issued Accounting Pronouncements In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842), which requires lessees to record most leases on the balance sheet and recognize the expenses on the income statement in a manner similar to current practice. ASU 2016-02 states that a lessee would recognize a lease liability for the obligation to make lease payments and a right-to-use asset for the right to use the underlying asset for the lease term. For public entities, the new standard is effective for fiscal years beginning after December 15, 2018 and interim periods within that reporting period. For all other entities, this standard is effective for annual reporting periods beginning after December 15, 2019 and interim periods within annual periods beginning after December 15, 2020. Early adoption is permitted. The Company expects to adopt this standard as of February 1, 2020, assuming it remains an emerging growth company. The Company is currently evaluating the impact to its consolidated financial statements and related disclosures, but expects assets and liabilities related to leases to increase as a result of adopting this standard. |
Fair Value Measurements
Fair Value Measurements | 12 Months Ended |
Jan. 31, 2019 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements | Fair Value Measurements Assets Measured at Fair Value on a Recurring Basis Financial instruments recorded at fair value in the financial statements are categorized as follows: • Level 1: Observable inputs that reflect quoted prices for identical assets or liabilities in active markets. • Level 2: Observable inputs, other than Level 1 prices, such as quoted prices for similar assets or liabilities, quoted prices in markets that are not 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 reflecting management's assumptions incorporated in valuation techniques used to determine fair value. These assumptions are required to be consistent with market participant assumptions that are reasonably available. The following table summarizes the assets measured at fair value on a recurring basis as of January 31, 2018 and January 31, 2019 by level within the fair value hierarchy (in thousands): January 31, 2018 Level 1 Level 2 Level 3 Total Cash equivalents: Money market funds $ 15,210 $ — $ — $ 15,210 Financial liability: Series D-2 convertible preferred stock warrants $ — $ — $ 229 $ 229 January 31, 2019 Level 1 Level 2 Level 3 Total Cash equivalents: Money market funds $ 170,998 $ — $ — $ 170,998 There were no realized or unrealized losses or other-than-temporary impairments for money market funds as of January 31, 2018 and January 31, 2019 . Level 3 instruments consisted of a liability related to warrants to purchase Series D-2 convertible preferred stock, which warrants were originally issued in December 2017 (see Note 9) and later converted to warrants to purchase Class B common stock in April 2018 (see Note 11) (warrant liability). The warrant liability was recorded at fair value upon issuance and remeasured until the date the exercise price-related contingency on the warrants to purchase Class B common stock was resolved, which was the effective date of the Company's IPO. On that date, the liability balance was reclassified to additional paid-in capital within stockholders' equity. As such, no warranty liability balances existed as of January 31, 2019 . These warrant liabilities were estimated using assumptions related to the remaining contractual term of the warrants, the risk-free interest rate, the volatility of comparable public companies over the remaining term and the fair value of underlying shares. The significant unobservable inputs used in the fair value measurement of the warrant liabilities are the fair value of the underlying stock at the valuation date and the estimated term of the warrants. Generally, increases (decreases) in the fair value of the underlying stock and estimated term would result in a directionally similar impact to the fair value measurement, and are recognized in other income (expense), net in the consolidated statements of operations. The changes in the fair value of the Series D-2 convertible preferred stock and Class B common stock warrant liabilities were as follows (in thousands): Balance as of January 31, 2017 $ — Issuance of convertible preferred stock warrants 257 Decrease in fair value of convertible preferred stock warrants (28 ) Balance as of January 31, 2018 229 Decrease in fair value of convertible preferred stock warrants (16 ) Write-off of convertible preferred stock warrant liability due to conversion to warrants on Class B common stock (213 ) Issuance of Class B common stock warrants 166 Decrease in fair value of Class B common stock warrants (40 ) Reclassification to additional paid-in capital of Class B common stock warrant liability due to resolution of contingency (126 ) Balance as of January 31, 2019 $ — At each reporting date or immediately prior to an event that changes the classification of the related warrants from liability to equity, the warrant liabilities are remeasured to fair value using the Black-Scholes option-pricing model. The assumptions used as of January 31, 2018 and during the year ended January 31, 2019 were as follows: January 31, 2018 2019 Expected stock price volatility 45% 42% - 44% Expected term 2.6 years 2.6 - 3.0 years Risk-free interest rate 2.72% 2.54% - 2.60% Expected dividend yield — — During the years ended January 31, 2017, 2018 and 2019 , the Company had no transfers between levels of the fair value hierarchy of its assets and liabilities measured at fair value. Fair Value of Other Financial Instruments The carrying amounts of certain financial instruments, including cash held in banks, accounts receivable, accounts payable, accrued liabilities, and other liabilities approximate fair value due to their short-term maturities and are excluded from the fair value tables above. |
Property and Equipment
Property and Equipment | 12 Months Ended |
Jan. 31, 2019 | |
Property, Plant and Equipment [Abstract] | |
Property and Equipment | Property and Equipment Property and equipment, net consisted of the following (in thousands): As of January 31, 2018 2019 Computer equipment and software $ 16,201 $ 16,575 Capitalized internal-use software development costs 11,823 18,140 Leasehold improvements 3,558 2,849 Furniture, vehicles and office equipment 2,430 2,537 34,012 40,101 Less accumulated depreciation and amortization (19,060 ) (27,506 ) $ 14,952 $ 12,595 Depreciation and amortization expense related to property and equipment was $4.9 million , $8.1 million and $8.6 million for the years ended January 31, 2017, 2018 and 2019 , respectively. The Company capitalized $4.9 million , $2.2 million and $6.3 million in software development costs during the years ended January 31, 2017, 2018 and 2019 , respectively. Amortization of capitalized software development costs was $1.5 million , $3.2 million and $3.9 million for the years ended January 31, 2017, 2018 and 2019 , respectively. |
Intangible Assets
Intangible Assets | 12 Months Ended |
Jan. 31, 2019 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Intangible Assets | Intangible Assets Intangible assets consisted of the following (in thousands): As of January 31, 2018 2019 Intellectual property excluding patents $ 2,289 $ 2,289 Software licenses — 1,603 Patents 950 950 3,239 4,842 Less accumulated amortization (213 ) (427 ) $ 3,026 $ 4,415 Amortization expense related to intangible assets was $0.3 million , $0.1 million and $0.2 million for the years ended January 31, 2017, 2018 and 2019 , respectively. Intellectual property excluding patents is considered an indefinite-lived asset due to the fact that it is renewable in perpetuity. Software licenses are amortized over an estimated useful life of three years . The patents were acquired and are being amortized over a weighted-average remaining useful life of approximately 8 years. As of January 31, 2019 , future amortization expense for definite-lived intangible assets is estimated to be as follows (in thousands): Year Ending January 31, 2020 $ 614 2021 614 2022 481 2023 80 2024 80 Thereafter 257 $ 2,126 |
Accrued Expenses and Other Curr
Accrued Expenses and Other Current Liabilities | 12 Months Ended |
Jan. 31, 2019 | |
Payables and Accruals [Abstract] | |
Accrued Expenses and Other Current Liabilities | Accrued Expenses and Other Current Liabilities Accrued expenses and other current liabilities consisted of the following (in thousands): As of January 31, 2018 2019 Accrued payroll taxes $ 13,925 $ 12,251 Accrued expenses 11,677 8,688 Accrued commissions 6,120 6,495 Accrued benefits 6,005 6,142 Accrued bonus 7,200 5,338 Employee stock purchase plan liability — 3,848 Sales and other taxes payable 966 1,409 Other accrued liabilities 3,535 3,968 $ 49,428 $ 48,139 |
Deferred Revenue and Performanc
Deferred Revenue and Performance Obligations | 12 Months Ended |
Jan. 31, 2019 | |
Revenue from Contract with Customer [Abstract] | |
Deferred Revenue and Performance Obligations | Deferred Revenue and Performance Obligations Deferred Revenue Significant changes in the Company's deferred revenue balance for the years ended January 31, 2017, 2018 and 2019 were as follows (in thousands): Beginning balance at February 1, 2016 (reflects cumulative effect adjustment from adoption of ASU 2014-09) $ 32,064 Revenue recognized that was included in the deferred revenue balance at the beginning of the period: Subscription $ (26,964 ) Professional services and other (4,664 ) Total (31,628 ) Increase due to billings excluding amounts recognized as revenue during the period 49,500 Balance as of January 31, 2017 49,936 Revenue recognized that was included in the deferred revenue balance at the beginning of the period: Subscription $ (42,383 ) Professional services and other (6,079 ) Total (48,462 ) Increase due to billings excluding amounts recognized as revenue during the period 69,482 Balance as of January 31, 2018 70,956 Revenue recognized that was included in the deferred revenue balance at the beginning of the period: Subscription $ (61,283 ) Professional services and other (4,991 ) Total (66,274 ) Increase due to billings excluding amounts recognized as revenue during the period 89,220 Balance as of January 31, 2019 $ 93,902 Transaction Price Allocated to Remaining Performance Obligations Transaction price allocated to remaining performance obligations represents the remaining amount of revenue the Company expects to recognize from existing noncancelable contracts, whether billed or unbilled. As of January 31, 2019 , approximately $183.5 million of revenue was expected to be recognized from remaining performance obligations for subscription contracts. The Company expects to recognize approximately $109.1 million of this amount during the year ending January 31, 2020 , with an additional $42.5 million being recognized during the year ending January 31, 2021 , and the balance recognized thereafter. As of January 31, 2019 , approximately $16.1 million of revenue was expected to be recognized from remaining performance obligations for professional services and other contracts, $14.3 million of which is expected to be recognized during the year ending January 31, 2020 , and the balance recognized thereafter. Geographic Information Revenue by geographic area is determined by the billing address of the customer. The following table sets forth revenue by geographic area (in thousands): Year Ended January 31, 2017 2018 2019 United States $ 64,144 $ 88,748 $ 110,181 Outside the United States 10,396 19,776 32,283 Total $ 74,540 $ 108,524 $ 142,464 Percentage of revenue by geographic area: United States 86 % 82 % 77 % Outside the United States 14 % 18 % 23 % Other than the United States, no other individual country exceeded 10% of total revenue for the years ended January 31, 2017, 2018 and 2019 . As of January 31, 2019 , substantially all of the Company’s property and equipment was located in the United States. |
Geographic Information
Geographic Information | 12 Months Ended |
Jan. 31, 2019 | |
Revenue from Contract with Customer [Abstract] | |
Geographic Information | Deferred Revenue and Performance Obligations Deferred Revenue Significant changes in the Company's deferred revenue balance for the years ended January 31, 2017, 2018 and 2019 were as follows (in thousands): Beginning balance at February 1, 2016 (reflects cumulative effect adjustment from adoption of ASU 2014-09) $ 32,064 Revenue recognized that was included in the deferred revenue balance at the beginning of the period: Subscription $ (26,964 ) Professional services and other (4,664 ) Total (31,628 ) Increase due to billings excluding amounts recognized as revenue during the period 49,500 Balance as of January 31, 2017 49,936 Revenue recognized that was included in the deferred revenue balance at the beginning of the period: Subscription $ (42,383 ) Professional services and other (6,079 ) Total (48,462 ) Increase due to billings excluding amounts recognized as revenue during the period 69,482 Balance as of January 31, 2018 70,956 Revenue recognized that was included in the deferred revenue balance at the beginning of the period: Subscription $ (61,283 ) Professional services and other (4,991 ) Total (66,274 ) Increase due to billings excluding amounts recognized as revenue during the period 89,220 Balance as of January 31, 2019 $ 93,902 Transaction Price Allocated to Remaining Performance Obligations Transaction price allocated to remaining performance obligations represents the remaining amount of revenue the Company expects to recognize from existing noncancelable contracts, whether billed or unbilled. As of January 31, 2019 , approximately $183.5 million of revenue was expected to be recognized from remaining performance obligations for subscription contracts. The Company expects to recognize approximately $109.1 million of this amount during the year ending January 31, 2020 , with an additional $42.5 million being recognized during the year ending January 31, 2021 , and the balance recognized thereafter. As of January 31, 2019 , approximately $16.1 million of revenue was expected to be recognized from remaining performance obligations for professional services and other contracts, $14.3 million of which is expected to be recognized during the year ending January 31, 2020 , and the balance recognized thereafter. Geographic Information Revenue by geographic area is determined by the billing address of the customer. The following table sets forth revenue by geographic area (in thousands): Year Ended January 31, 2017 2018 2019 United States $ 64,144 $ 88,748 $ 110,181 Outside the United States 10,396 19,776 32,283 Total $ 74,540 $ 108,524 $ 142,464 Percentage of revenue by geographic area: United States 86 % 82 % 77 % Outside the United States 14 % 18 % 23 % Other than the United States, no other individual country exceeded 10% of total revenue for the years ended January 31, 2017, 2018 and 2019 . As of January 31, 2019 , substantially all of the Company’s property and equipment was located in the United States. |
Line of Credit and Credit Facil
Line of Credit and Credit Facility | 12 Months Ended |
Jan. 31, 2019 | |
Debt Disclosure [Abstract] | |
Line of Credit and Credit Facility | Line of Credit and Credit Facility Line of Credit In July 2016, the Company entered into a two -year secured line of credit that allowed for borrowings up to $20.0 million to fund working capital and general corporate purposes with interest payable on the borrowed amounts at a floating rate equal to the prime rate plus 0.75% . The line of credit was secured by the assets of the Company, excluding intellectual property. The Company was required to pay an annual commitment fee of $50,000 and a fee of 0.25% per year (payable quarterly) on the unused portion of the facility. Origination fees were amortized over the term of the facility as interest expense. Any amounts outstanding under this facility were originally scheduled to be due and payable on July 18, 2018; however, in November 2017 the line of credit was canceled in conjunction with the Company entering into a new credit facility with a different lender. This credit facility is described in further detail below. The Company did no t make any draws on the line of credit during the term of the agreement. Credit Facility In December 2017, the Company entered into an $80.0 million credit facility and drew $50.0 million at closing, which was scheduled to mature on January 1, 2021. The Company had until April 30, 2018 to request an additional term loan of up to $30.0 million under the credit facility. In April 2018, the Company entered into an amendment to this credit facility pursuant to which the Company was able to incur an additional $20.0 million in term loan borrowings, for a total availability of $100.0 million under the amended facility. The Company drew the remaining $50.0 million during April 2018, which was scheduled to mature on May 1, 2021. The credit facility is secured by substantially all of the Company's assets. Under the amended credit facility, the Company was required to pay a $2.0 million fee upon the earlier of (1) the closing of a transaction in which the Company was acquired by a third party and (2) December 4, 2027. The obligation to pay this $2.0 million fee terminated upon the closing of the IPO. In January 2019, the Company entered into an amendment to this credit facility which extended the maturity date for both outstanding loans to October 1, 2022. The amendment also revised the maximum debt ratio financial covenant and increased the amount of the closing fee. Each term loan under the credit facility requires interest-only payments until the maturity date. A portion of the interest that accrues on the outstanding principal of each term loan is payable in cash on a monthly basis, which portion accrues at a floating rate equal to the greater of (1) 7% and (2) three-month LIBOR plus 5.5% per year. This interest rate was approximately 8.3% as of January 31, 2019 . In addition, a portion of the interest that accrues on the outstanding principal of each term loan is capitalized and added to the principal amount of the outstanding term loan on a monthly basis, which portion accrues at a fixed rate equal to 2.5% per year. There were no amounts capitalized during the year ended January 31, 2017 , and $0.2 million and $2.3 million of interest was capitalized during the years ended January 31, 2018 and 2019 , respectively. The amended credit facility requires a closing fee of $7.0 million to be paid on the earliest of (1) the date the term loan is prepaid, (2) the term loan maturity date, which is October 1, 2022, and (3) the date the term loan becomes due and payable. Due to the long-term nature of the closing fee, it was recorded at present value as an increase to other liabilities, noncurrent and an increase to debt issuance costs. The closing fee liability will be accreted to its full value over the term of the loan, with such accretion recorded as interest expense in other income (expense), net in the consolidated statements of operations. As of January 31, 2018 , the Company had incurred other upfront issuance fees of $1.2 million , with an additional $0.3 million incurred during the year ended January 31, 2019 , which were also recorded as debt issuance costs. Debt issuance costs are presented as an offset to the outstanding principal balance of the term loans on the consolidated balance sheets and are being amortized as interest expense in other income (expense), net in the consolidated statements of operations over the term of the loan using the effective interest rate method. The balances in long-term debt consisted of the following: As of January 31, 2018 2019 Principal $ 50,201 $ 102,494 Less: unamortized debt issuance costs (3,869 ) (5,249 ) Net carrying amount $ 46,332 $ 97,245 The $100.0 million credit facility as amended contains customary conditions to borrowing, events of default and covenants, including covenants that restrict the Company's ability to dispose of assets, make material changes to the nature, control or location of the business, merge with or acquire other entities, incur indebtedness or encumbrances, make distributions to holders of the Company's capital stock, make investments or enter into transactions with affiliates. In addition, the Company is required to comply with a financial covenant based on the ratio of outstanding indebtedness to annualized recurring revenue. Under the amended facility, the minimum ratio is 0.85 on January 31, 2019 and April 30, 2019; 0.80 on July 31, 2019 and October 31, 2019; 0.75 on January 31, 2020 and April 30, 2020; 0.70 on July 31, 2020 and October 31, 2020; 0.65 on January 31, 2021 and April 30, 2021; and 0.60 on July 31, 2021 through the maturity date. The credit facility defines annualized recurring revenue as four times the Company's aggregate revenue for the immediately preceding quarter (net of recurring discounts and discounts for periods greater than one year ) less the annual contract value of any customer contracts pursuant to which the Company was advised during such quarter would not be renewed at the end of the current term plus annual contract value of existing customer contract increases during such quarter. This covenant is measured quarterly on a three -month trailing basis. Upon the occurrence of an event of default, such as non-compliance with covenants, any outstanding principal, interest and fees become due immediately. The Company was in compliance with the covenant terms of the credit facility at January 31, 2018 and January 31, 2019 . The Company incurred interest expense of $0.1 million , $1.2 million and $11.1 million for the years ended January 31, 2017, 2018 and 2019 , respectively. Stock Warrants In connection with the credit facility described above, in December 2017 the Company issued fully vested warrants to purchase 28,462 shares of Series D-2 convertible preferred stock (Series D-2 warrants) with an exercise price of $126.47 per share. The fair value of the Series D-2 warrants at the time of issuance was recorded as an increase to debt issuance costs. In connection with the April 2018 amendment, the Series D-2 warrants were amended to warrants to purchase 66,664 shares of Class B common stock with an exercise price of $45.00 per share (common warrants). Upon execution of the April 2018 amendment, unamortized debt issuance costs related to the Series D-2 warrants were adjusted based on the difference in fair value of the Series D-2 warrants and the common warrants at the time of the April 2018 amendment. In connection with the January 2019 amendment to the credit facility, the common warrants were amended to be exercisable for an aggregate of 125,000 shares of Class B common stock at an exercise price of $17.8736 per share (amended common warrants). Upon execution of the January 2019 amendment, unamortized debt issuance costs related to the common warrants were adjusted based on the difference in fair value of the common warrants and the amended common warrants at the time of the January 2019 amendment. See Note 11 for further details regarding stock warrants. |
Commitments and Contingencies
Commitments and Contingencies | 12 Months Ended |
Jan. 31, 2019 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | Commitments and Contingencies Litigation Liabilities for loss contingencies arising from claims, assessments, litigation, fines, and penalties and other sources are recorded when it is probable that a liability has been incurred and the amount can be reasonably estimated. Legal costs incurred in connection with loss contingencies are expensed as incurred. The Company is involved in legal proceedings from time to time arising in the normal course of business. As of January 31, 2018 and January 31, 2019 , there were no significant outstanding claims against the Company. Warranties and Indemnification The Company’s subscription services are generally warranted to perform materially in accordance with the terms of the applicable customer service order under normal use and circumstances. Additionally, the Company’s arrangements generally include provisions for indemnifying customers against liabilities if its subscription services infringe a third party’s intellectual property rights. Furthermore, the Company may also incur liabilities if it breaches the security or confidentiality obligations in its arrangements. To date, the Company has not incurred significant costs and has not accrued a liability in the accompanying consolidated financial statements as a result of these obligations. The Company has entered into service-level agreements with some of its customers defining levels of uptime reliability and performance and permitting those customers to receive credits for prepaid amounts related to unused subscription services if the Company fails to meet certain of the defined service levels. In very limited instances, the Company allows customers to early terminate their agreements if the Company repeatedly or significantly fails to meet those levels. If the Company repeatedly or significantly fails to meet contracted upon service levels, a contract may require a refund of prepaid unused subscription fees. To date, the Company has not experienced any significant failures to meet defined levels of uptime reliability and performance as set forth in its agreements and, as a result, the Company has not accrued any liabilities related to these agreements in the consolidated financial statements. Operating Leases The Company has entered into noncancelable operating lease arrangements, primarily for office space, with various expiration dates through 2027. Certain of the leases include periods of free rent beginning with the lease effective date and increasing rental rates over the term of the leases. The Company recognizes rent expense on a straight-line basis over the lease period and has accrued for rent expense incurred but not paid. Rent expense under operating leases totaled $4.2 million , $5.3 million and $7.1 million for the years ended January 31, 2017, 2018 and 2019 , respectively. Future minimum lease payments under noncancelable operating leases were as follows as of January 31, 2019 (in thousands): Total Expected Sublease Income Net Year Ending January 31: 2020 $ 7,162 $ (449 ) $ 6,713 2021 3,258 (706 ) 2,552 2022 1,571 (619 ) 952 2023 1,113 (338 ) 775 2024 1,144 — 1,144 Thereafter 4,799 — 4,799 $ 19,047 $ (2,112 ) $ 16,935 Other Purchase Commitments The Company has also entered into certain noncancelable contractual commitments related to cloud infrastructure services in the ordinary course of business. As of January 31, 2019 , these commitments were $10.7 million and $20.0 million , which are due during the fiscal years ending January 31, 2020 and 2021, respectively. |
Stockholders' (Deficit) Equity
Stockholders' (Deficit) Equity | 12 Months Ended |
Jan. 31, 2019 | |
Equity [Abstract] | |
Stockholders' (Deficit) Equity | Stockholders' (Deficit) Equity Convertible Preferred Stock The Company previously issued several series of convertible preferred stock, each with such designations, rights, qualifications, limitations, and restrictions as set forth in the Company’s certificate of incorporation, as in effect prior to the IPO. Immediately prior to the completion of the IPO, as described in Note 1, all shares of convertible preferred stock then outstanding were automatically converted into 3,263,659 shares of Class A common stock and 10,835,278 shares of Class B common stock. Preferred Stock The Company's Board of Directors has the authority, without further action by the Company's stockholders, to issue up to 10,000,000 shares of preferred stock in one or more series and to fix the rights, preferences, and privileges thereof, including voting rights. As of January 31, 2018 and January 31, 2019 , no shares of preferred stock were issued and outstanding. Common Stock The Company has two classes of common stock, Class A and Class B. Each share of Class A common stock is entitled to 40 votes per share and is convertible at any time into one share of Class B common stock. Each share of Class A common stock will convert automatically into one share of Class B common stock upon any transfer, whether or not for value. Each share of Class B common stock is entitled to one vote per share. Holders of Class A common stock and Class B common stock vote together as a single class on all matters (including the election of directors) submitted to a vote of stockholders, unless otherwise required by law or the Company's certificate of incorporation. Subject to preferences that may be applicable to any then-outstanding preferred stock, holders of Class A common stock and Class B common stock are entitled to receive dividends, if any, as may be declared by the Company's board of directors. At January 31, 2018 and January 31, 2019 , there were 3,700,000 shares of Class A common stock authorized. There were no shares of Class A common stock issued and outstanding at January 31, 2018 and 3,263,659 shares of Class A common stock issued and outstanding at January 31, 2019 . At January 31, 2018 and January 31, 2019 , there were 21,200,000 and 500,000,000 shares of Class B common stock authorized, respectively, and 1,638,648 and 23,434,542 shares of Class B common stock issued and outstanding, respectively. Class B Common Stock Warrants In connection with the amendment to the credit facility that occurred in April 2018, the warrants to purchase 28,462 shares of Series D-2 convertible preferred stock described in Note 9 were amended to warrants to purchase 66,664 shares of Class B common stock at an exercise price equal to $45.00 per share. The warrants are exercisable at any time prior to expiration, which was to occur on the earlier of the third anniversary of the IPO or December 2027. Due to the exercise price-related contingency that existed with the Class B common stock warrants, they were being accounted for as a liability and were included in other liabilities, noncurrent on the consolidated balance sheets. The liability was revalued each reporting period until the contingency was resolved and the change in fair value was recorded in other income (expense), net. The contingency was resolved on the effective date of the Company's IPO, at which time the liability was remeasured to fair value and the remaining liability balance was reclassified to additional paid-in capital within stockholders' equity. In connection with the January 2019 amendment to the credit facility, the warrants to purchase 66,664 shares of Class B common stock were amended to be exercisable for an aggregate of 125,000 shares of Class B common stock at an exercise price of $17.8736 per share. The warrants are exercisable at any time prior to expiration, which occurs on June 28, 2021 (the third anniversary of the IPO). The difference in the fair value of the Class B common stock warrants at the time of the amendment to the credit facility in January 2019 associated with the increase in shares and the lower exercise price was recorded as an adjustment to additional paid-in capital and debt issuance costs. In connection with the line of credit signed in July 2016, the Company issued a warrant to purchase 3,333 shares of Class B common stock with a strike price of $34.35 per share. The warrant expires ten years from the date of issuance. In connection with a loan signed in November 2011 and for which the last principal payment was made in September 2015, the Company issued a warrant to purchase 3,729 shares of Class B common stock with a strike price of $4.80 per share. The warrant expires ten years from the date of issuance. At January 31, 2018 and January 31, 2019 , all warrants were outstanding and exercisable. |
Equity Incentive Plans
Equity Incentive Plans | 12 Months Ended |
Jan. 31, 2019 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Equity Incentive Plans | Equity Incentive Plans In April 2011, Domo established the 2011 Equity Incentive Plan (2011 Plan), which was amended in September 2011 to provide for the issuance of stock options and other stock-based awards. In June 2018, the Company adopted the 2018 Equity Incentive Plan (2018 Plan). The 2018 Plan provides for the grant of incentive and nonstatutory stock options, restricted stock, RSUs, stock appreciation rights, performance units, and performance shares to employees, consultants, and members of the Company's board of directors. A total of 5,238,423 shares of Class B common stock were initially reserved for issuance under the 2018 Plan. The number of shares available for issuance under the 2018 Plan also includes an annual increase on the first day of each fiscal year equal to the least of: (1) 3,500,000 shares; (2) 5% of the outstanding shares of Class A and Class B common stock as of the last day of the immediately preceding fiscal year; and ( 3) such other amount as the Company's board of directors may determine no later than the last day of the immediately preceding year . As of January 31, 2019 , there were 4,466,868 shares available for grant under the 2018 Plan. In connection with the IPO, the 2011 Plan was terminated. With the establishment of the 2018 Plan, the Company no longer grants equity-based awards under the 2011 Plan and any shares that expire, terminate, are forfeited or repurchased by the Company, or are withheld by the Company to cover tax withholding obligations, under the 2011 Plan, will become available for future grant under the 2018 Plan. The Company recognized stock-based compensation expense related to its equity incentive plans as follows (in thousands): Year Ended January 31, 2017 2018 2019 Cost of revenue: Subscription $ 46 $ 48 $ 219 Professional services and other 45 40 154 Sales and marketing 1,930 1,845 7,387 Research and development 2,206 2,311 6,519 General and administrative 5,099 5,090 7,492 Interest expense 17 36 30 Total $ 9,343 $ 9,370 $ 21,801 Stock Options Stock options typically vest over a four year period and have a term of ten years from the date of grant. The weighted-average grant-date fair value of stock options granted was $12.89 per share and $13.20 per share for the years ended January 31, 2017 and 2018, respectively. No stock options were granted during the year ended January 31, 2019 . The grant-date fair value of stock options was estimated using the Black-Scholes option-pricing model with the following weighted-average assumptions: Year Ended January 31, 2017 2018 Expected stock price volatility 48 % 47 % Expected term 6 years 6 years Risk-free interest rate 1.28% - 1.42% 1.83 % Expected dividend yield — — Fair value of common stock $27.60 $28.20 The following table sets forth the outstanding common stock options and related activity for the years ended January 31, 2017, 2018 and 2019 : Shares Subject to Outstanding Options Weighted- Average Exercise Price per Share Weighted-Average Remaining Contractual Term (years) Aggregate Intrinsic Value (in thousands) Outstanding as of January 31, 2016 2,312,633 $ 20.20 8.0 $ 59,509 Granted 399,239 27.60 Exercised (113,546 ) 6.58 Forfeited (45,702 ) 33.64 Expired (10,599 ) 22.21 Outstanding as of January 31, 2017 2,542,025 21.72 7.3 19,377 Granted 161,715 28.20 Exercised (111,688 ) 12.00 Forfeited (102,828 ) 35.79 Expired (23,982 ) 31.63 Outstanding as of January 31, 2018 2,465,242 21.90 6.4 12,185 Exercised (367,991 ) 6.09 Forfeited (101,782 ) 30.69 Expired (139,130 ) 34.06 Outstanding as of January 31, 2019 1,856,339 $ 23.64 5.6 $ 8,443 Vested and exercisable at January 31, 2019 1,709,661 $ 23.20 5.4 $ 8,443 The aggregate intrinsic value of options exercised was $2.8 million , $2.5 million and $4.5 million for the years ended January 31, 2017, 2018 and 2019 , respectively. The intrinsic value represents the excess of the estimated fair value of the Company's common stock on the date of exercise over the exercise price of each option. The intrinsic value of options as of January 31, 2019 is based on the market closing price of the Company's Class B common stock on that date. As of January 31, 2019 , there was $1.8 million of unrecognized stock-based compensation expense related to outstanding stock options which is expected to be recognized over a weighted-average period of 1.2 years. Restricted Stock Units Restricted stock units (RSUs) granted under the Plan vest and settle upon the satisfaction of a service-based condition and, for RSUs granted prior to the IPO, a liquidity event-related performance vesting condition. The service-based condition for these awards is generally satisfied over three or four years with a cliff vesting period of one or two years and quarterly vesting thereafter. Some RSUs have a two -year vesting schedule, with one third of the RSUs vesting at twelve, eighteen, and twenty-four months. Upon the effectiveness of the registration statement for the Company's IPO, which was June 28, 2018, the liquidity event-related performance vesting condition associated with RSUs granted prior to the IPO was deemed probable of being satisfied. As a result, the Company recognized stock-based compensation related to these RSUs using the accelerated attribution method of $6.6 million attributable to service prior to such effective date. The following table sets forth the outstanding RSUs and related activity for the years ended January 31, 2017, 2018 and 2019 : Number of Shares Weighted- Average Grant Date Fair Value Outstanding as of January 31, 2016 — $ — Granted 33,666 27.60 Outstanding as of January 31, 2017 33,666 27.60 Granted 988,601 23.40 Canceled (21,041 ) 27.60 Outstanding as of January 31, 2018 1,001,226 23.40 Granted 1,743,393 18.06 Vested (12,625 ) 27.60 Canceled (403,872 ) 21.29 Outstanding as of January 31, 2019 2,328,122 $ 19.77 As of January 31, 2019 , there was $30.7 million of unrecognized stock-based compensation expense related to outstanding RSUs which is expected to be recognized over a weighted-average period of 2.1 years. Employee Stock Purchase Plan In June 2018, the Company's board of directors adopted the ESPP and a total of 1,047,684 shares of Class B common stock were initially reserved for issuance under the ESPP. The number of shares of Class B common stock available for issuance under the ESPP increases on the first day of each fiscal year equal to the least of: (1) 1,050,000 shares of Class B common stock, (2) 1.5% of the outstanding shares of Class A and Class B common stock of the Company on the last day of the immediately preceding fiscal year, and (3) such other amount as the administrator of the ESPP may determine on or before the last day of the immediately preceding year . The ESPP generally provides for consecutive overlapping 24 -month offering periods comprised of four six -month purchase periods; provided, however, that the first purchase period in the first offering period will have a duration of approximately nine months . The offering periods are scheduled to start on the first trading day on or after April 1 and October 1 of each year. The first offering period commenced on June 29, 2018 and is scheduled to end on the first trading day on or after October 1, 2020. The ESPP is intended to qualify as a tax-qualified plan under Section 423 of the Internal Revenue Code and permits participants to elect to purchase shares of Class B common stock through payroll deductions of up to 15% of their eligible compensation . A participant may purchase a maximum of 2,000 shares during each purchase period. Amounts deducted and accumulated by the participant will be used to purchase shares of Class B common stock at the end of each purchase period. The purchase price of the shares will be 85% of the lower of the fair market value of Class B common stock on the first trading day of each offering period or the fair market value of Class B common stock on the applicable exercise date . If the fair market value of a share of Class B common stock on the exercise date of an offering period is less than it was on the first trading day of that offering period, participants automatically will be withdrawn from that offering period following their purchase of shares on the exercise date and will be re-enrolled in a new offering period. Participants may end their participation at any time during an offering period and will be paid their accrued contributions that have not yet been used to purchase shares of Class B common stock. Participation ends automatically upon termination of employment. As of January 31, 2019 , a total of 833,512 shares were issuable to employees based on contribution elections made under the ESPP and no shares had yet been purchased. As of January 31, 2019 , total unrecognized stock-based compensation related to the ESPP was $4.1 million , which is expected to be recognized over a weighted-average period of 1.7 years . The fair value of the purchase rights for the ESPP are estimated on the date of grant using the Black-Scholes option-pricing model with the following assumptions: Expected stock price volatility 31% - 36% Expected term 0.75 - 2.25 years Risk-free interest rate 2.22% - 2.54% Expected dividend yield – |
Income Taxes
Income Taxes | 12 Months Ended |
Jan. 31, 2019 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | Income Taxes The components of the income tax provision were as follows (in thousands): Year Ended January 31, 2017 2018 2019 Current income provision: Federal $ — $ — $ — State 89 3 9 Foreign 443 233 1,137 532 236 1,146 Deferred income tax provision: Federal 45 (32 ) (125 ) State 8 12 (39 ) Foreign 188 169 266 241 149 102 Provision for income taxes $ 773 $ 385 $ 1,248 Total income tax expense differed from the amounts computed by applying the U.S. federal income tax rate to income before income tax expense as a result of the following (in thousands): Year Ended January 31, 2017 2018 2019 Tax benefit at U.S. federal statutory rate (1) $ (61,998 ) $ (57,992 ) $ (32,143 ) State income taxes, net of federal tax benefit (10,841 ) (11,679 ) (10,114 ) Non-deductible expenses 1,522 1,095 997 Foreign taxes 37 48 697 Stock-based compensation 1,081 896 1,469 Research and development credits (1,784 ) (2,516 ) (2,618 ) Change in valuation allowance 72,769 (15,199 ) 42,975 Deferred tax effect of Tax Act rate change — 85,725 — Other (13 ) 7 (15 ) Provision for income taxes $ 773 $ 385 $ 1,248 ________________ (1) The statutory tax rates used in this analysis were 34% , 33% and 21% for the years ended January 31, 2017, 2018 and 2019 , respectively. The rate used for the year ended January 31, 2018 takes into account the number of days in the fiscal year after the Tax Cuts and Jobs Act was enacted where the statutory rate decreased to 21% . The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and liabilities were as follows (in thousands): As of January 31, 2018 2019 Deferred tax assets: Net operating loss carryforwards $ 186,299 $ 223,765 Stock based compensation 6,892 9,784 Accruals and other reserves 5,821 4,222 Research and development credit carryforwards 9,615 12,729 Other 1,871 5,229 Gross deferred tax assets 210,498 255,729 Valuation allowance (203,704 ) (246,679 ) Total deferred tax assets, net of valuation allowance 6,794 9,050 Deferred tax liabilities: Contract acquisition costs (5,132 ) (6,987 ) Capitalized software (1,929 ) (2,581 ) Basis difference in intangible assets (471 ) (297 ) Total deferred tax liabilities (7,532 ) (9,865 ) Net deferred tax liabilities $ (738 ) $ (815 ) In assessing whether deferred tax assets should be recog nized, the Company considered whether it is more-likely-than-not that some portion or all of the deferred tax assets would be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. The Company considered the scheduled reversal of deferred tax liabilities, projected future taxable income, and tax planning strategies in making this assessment. The Company determined it was more-likely-than-not that its domestic deferred tax assets would not be realized as of January 31, 2018 and 2019 and, accordingly, recorded a full valuation allowance. Net deferred tax liabilities are included in other liabilities, noncurrent on the consolidated balance sheets. In December 2017, the Tax Cuts and Jobs Act (Tax Act) was enacted, which resulted in widespread changes to the U.S. tax code. One such change was establishing a flat corporate income tax rate of 21% to replace previous rates that ranged from 15% to 35% . As a result, the Company remeasured its U.S. deferred tax assets and liabilities as of January 31, 2018 to reflect the lower rate expected to apply when these temporary differences reverse. The remeasurement resulted in a reduction in deferred tax assets of $85.7 million . This was fully offset by a corresponding change to the Company’s valuation allowance. The Tax Act also provides for a transition to a new territorial system of taxation and generally requires companies to include certain untaxed foreign earnings of non-U.S. subsidiaries into taxable income in 2017. As a result, the Company realized a one-time deemed income inclusion of deferred foreign income from the Company's non-U.S. subsidiaries of $0.7 million , which income was offset by the Company's net operating losses. In December 2017, the SEC staff issued Staff Accounting Bulletin No. 118, Income Tax Accounting Implications of the Tax Cuts and Jobs Act (SAB 118), which allowed the Company to record provisional amounts during a measurement period not to extend beyond one year of the enactment date. As of January 31, 2019 , the Company has finalized all provisional amounts related to the Tax Act. Finalizing provisional adjustments related to the Tax Act did not have a material impact on the Company's consolidated financial statements as of January 31, 2019 . As of January 31, 2019 , the Company had federal and state NOLs available to offset future taxable income, if any, of $815.1 million and $1,048.5 million , respectively. The federal NOLs will begin to expire in 2028 . The state NOLs will expire depending upon the various rules in the states in which the Company operates. Full realization of the NOLs is dependent on generating sufficient taxable income prior to their expiration. The ability to realize the NOLs and other deferred tax assets could also be limited by previous or future changes in ownership in accordance with rules in Internal Revenue Code Section 382. As of January 31, 2019 , the Company also had unused federal and state research and development tax credits of $12.2 million and $6.0 million , respectively. The federal credits begin to expire in 2020 and the state credits began to expire in 2016 . As of January 31, 2019 , the Company also had foreign tax credits of $0.4 million which begin to expire in 2020 . During the fiscal years ended years ended January 31, 2017, 2018 and 2019 , the aggregate changes in the total gross amount of unrecognized tax benefits were as follows (in thousands): Year Ended January 31, 2017 2018 2019 Beginning balance $ 2,055 $ 2,737 $ 3,637 (Decrease) increase in unrecognized tax benefits taken in prior years (27 ) 675 872 Increase in unrecognized tax benefits related to current year 709 225 49 $ 2,737 $ 3,637 $ 4,558 The total amount of unrecognized tax benefits that, if recognized, would affect the effective tax rate is zero due to the valuation allowance. The Company does not expect a significant change in its unrecognized tax benefits over the next twelve months. The Company files U.S. federal, U.S. state and foreign tax returns. For both federal and state tax returns, the Company is subject to examination for tax years since 2009 due to carry forward of net operating losses and research and development credits. The Company could be subject to examination in Japan for tax years since 2011 , in the UK for tax years since 2014 and in Australia for tax years since 2015 . The Company paid income taxes of $0.2 million , $0.5 million and $0.8 million during the years ended years ended January 31, 2017, 2018 and 2019 , respectively. |
Net Loss Per Share
Net Loss Per Share | 12 Months Ended |
Jan. 31, 2019 | |
Earnings Per Share [Abstract] | |
Net Loss Per Share | Net Loss Per Share The Company computes net loss per share using the two-class method required for multiple classes of common stock and participating securities. The rights, including the liquidation and dividend rights, of the Class A common stock and Class B common stock are substantially identical, other than voting rights. Accordingly, the Class A common stock and Class B common stock share equally in the Company’s net losses. Before the IPO, the Company’s participating securities also included convertible preferred stock. The holders of convertible preferred stock did not have a contractual obligation to share in the Company’s losses, and as a result net losses were not allocated to these participating securities. The following tables set forth the calculation of basic and diluted net loss per share during the periods presented. The shares issued in the IPO and the shares of Class A and Class B common stock issued upon conversion of the outstanding shares of convertible preferred stock in the IPO are included in the table below weighted for the period outstanding in the years ended January 31, 2017, 2018 and 2019 (in thousands, except per share amounts): Year Ended January 31, 2017 2018 2019 Class A Class B Class A Class B Class A Class B Numerator: Net loss $ — $ (183,120 ) $ — $ (176,562 ) $ (18,305 ) $ (136,004 ) Denominator: Weighted-average number of shares used in computing net loss per share, basic and diluted — 1,466 — 1,595 1,941 14,417 Net loss per share, basic and diluted $ — $ (124.90 ) $ — $ (110.70 ) $ (9.43 ) $ (9.43 ) Since the Company was in a loss position for all periods presented, basic net loss per share is the same as diluted net loss per share for all periods as the inclusion of all potential common shares outstanding would have been anti-dilutive. The weighted-average impact of potentially dilutive securities that were not included in the diluted per share calculations because they would be anti-dilutive was as follows: Year Ended January 31, 2017 2018 2019 Convertible preferred stock on an if-converted basis 13,288,510 13,938,953 5,716,829 Options to purchase common stock 676,467 553,581 469,936 Restricted stock units — — 310,811 Common stock warrants 3,179 3,023 4,357 13,968,156 14,495,557 6,501,933 |
Employee Benefit Plan
Employee Benefit Plan | 12 Months Ended |
Jan. 31, 2019 | |
Postemployment Benefits [Abstract] | |
Employee Benefit Plan | Employee Benefit Plan The Company has a defined contribution retirement savings plan qualified under Section 401(k) of the Internal Revenue Code (IRC), which is a pretax savings plan covering substantially all employees. Under the plan, employees may contribute up to 50% of their pretax salary, subject to certain IRC limitations. Employees are eligible to participate beginning on the first day of the month following their first 30 days of employment. The Company recorded expenses for contributions to its retirement savings plan of $2.9 million , $3.2 million and $3.4 million during the years ended January 31, 2017, 2018 and 2019 , respectively. |
Related Party Transactions
Related Party Transactions | 12 Months Ended |
Jan. 31, 2019 | |
Related Party Transactions [Abstract] | |
Related Party Transactions | Related Party Transactions Certain members of the Company's board of directors serve as directors of and/or are executive officers of and, in some cases, are investors in, companies that are customers or vendors of the Company. Certain of the Company’s executive officers also serve as directors of or serve in an advisory capacity to companies that are customers or vendors of the Company. As of January 31, 2018 and January 31, 2019 , the Company had $0.6 million and $0.6 million receivable from these customers, respectively. As of January 31, 2018 and January 31, 2019 , amounts payable to these vendors were immaterial. During the years ended January 31, 2017, 2018 and 2019 , the Company recognized revenue of $0.8 million , $1.6 million and $1.9 million , respectively, related to these customers. During the years ended January 31, 2017, 2018 and 2019 , the Company recognized expense of $1.2 million , $0.8 million and $0.7 million , respectively, related to these vendors. The Company previously utilized an aircraft owned by one of the Company's executive officers on an as-needed basis. This arrangement was terminated in June 2018. The Company recorded expenses related to usage of the aircraft of $0.9 million , $0.7 million and $0.3 million during the years ended January 31, 2017, 2018 and 2019 , respectively. |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Jan. 31, 2019 | |
Accounting Policies [Abstract] | |
Basis of Presentation | The accompanying consolidated financial statements, which include the accounts of the Company and its wholly owned subsidiaries, have been prepared in conformity with accounting principles generally accepted in the United States of America or GAAP. All intercompany balances and transactions have been eliminated in consolidation. The Company’s fiscal year ends on January 31. |
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 amounts reported in the consolidated financial statements and the accompanying notes. 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 estimates and judgments include the determination of standalone selling prices for the Company’s services, which are used to determine revenue recognition for arrangements with multiple performance obligations; the amortization period for deferred contract acquisition costs; valuation of the Company’s stock-based compensation, including the underlying estimated fair value of common stock in periods prior to the date of the Company's IPO; useful lives of fixed assets; capitalization and estimated useful life of internal-use software; valuation estimates used when evaluating impairment of long-lived and intangible assets including goodwill; and the allowance for doubtful accounts. |
Foreign Currency | Foreign Currency The functional currencies of the Company’s foreign subsidiaries are the respective local currencies. The cumulative effect of translation adjustments arising from the use of differing exchange rates from period to period is included in accumulated other comprehensive income within the consolidated balance sheets. Changes in the cumulative foreign translation adjustment are reported in the consolidated statements of convertible preferred stock and stockholders’ (deficit) equity and the consolidated statements of comprehensive loss. Transactions denominated in currencies other than the functional currency are remeasured at the end of the period and when the related receivable or payable is settled, which may result in transaction gains or losses. Foreign currency transaction gains and losses are included in other income (expense), net in the consolidated statements of operations and were not material for the years ended January 31, 2017, 2018 and 2019 . All assets and liabilities denominated in a foreign currency are translated into U.S. dollars at the exchange rate on the balance sheet date. Revenue and expenses are translated at the average exchange rate during the period, and equity balances are translated using historical exchange rates. |
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 presented on a consolidated basis for purposes of making operating decisions, assessing financial performance and allocating resources. |
Cash and Cash Equivalents | Cash and Cash Equivalents Cash and cash equivalents consist of cash on hand and money market funds. The fair value of cash equivalents approximated their carrying value as of January 31, 2018 and January 31, 2019 . |
Accounts Receivables | Accounts Receivable and Allowance for Doubtful Accounts Accounts receivable are recorded at the invoiced amount (net of allowances), do not require collateral, and do not bear interest. The Company’s payment terms generally provide that customers pay within 30 days of the invoice date. |
Allowance for Doubtful Accounts | The Company maintains an allowance for doubtful accounts for amounts the Company does not expect to collect. In establishing the required allowance, management considers historical losses, current market conditions, customers’ financial condition, the age of the receivables, and current payment patterns. Account balances are written off against the allowance after all means of collection have been exhausted and the potential for recovery is considered remote. |
Contract Acquisition Costs, Revenue Recognition, Deferred Revenue and Cost of Revenue | Contract Acquisition Costs Contract acquisition costs, net are stated at cost net of accumulated amortization and primarily consist of deferred sales commissions, which are considered incremental and recoverable costs of obtaining a contract with a customer. Contract acquisition costs for initial contracts are deferred and then amortized on a straight-line basis over the period of benefit, which the Company has determined to be approximately four years . The period of benefit is determined by taking into consideration contractual terms, expected customer life, changes in the Company's technology and other factors. Contract acquisition costs for renewal contracts are not commensurate with contract acquisition costs for initial contracts and are recorded as expense when incurred if the period of benefit is one year or less. If the period of benefit is greater than one year, costs are deferred and then amortized on a straight-line basis over the period of benefit. Contract acquisition costs related to professional services and other performance obligations with a period of benefit of one year or less are recorded as expense when incurred. Amortization of contract acquisition costs is included in sales and marketing expenses in the accompanying consolidated statements of operations. Revenue Recognition The Company derives revenue primarily from subscriptions to its cloud-based platform and professional services. Revenue is recognized when control of these services is transferred to customers in an amount that reflects the consideration to which the Company expects to be entitled to in exchange for those services, net of sales taxes. For sales through channel partners, the Company considers the channel partner to be the end customer for the purposes of revenue recognition as the Company's contractual relationships with channel partners do not depend on the sale of the Company's services to their customers and payment from the channel partner is not contingent on receiving payment from their customers. The Company's contractual relationships with channel partners do not allow returns, rebates, or price concessions. The price of subscriptions is generally fixed at contract inception and therefore, the Company's contracts do not contain a significant amount of variable consideration. Revenue recognition is determined through the following steps: • Identification of the contract, or contracts, with a customer • Identification of the performance obligations in the contract • Determination of the transaction price • Allocation of the transaction price to the performance obligations in the contract • Recognition of revenue when, or as, performance obligations are satisfied Subscription Revenue Subscription revenue primarily consists of fees paid by customers to access the Company’s cloud-based platform, including support services. The Company's subscription agreements generally have annual contractual terms and a smaller percentage have multi-year contractual terms. Revenue is recognized ratably over the related contractual term beginning on the date that the platform is made available to a customer. Access to the platform represents a series of distinct services as the Company continually provides access to and fulfills its obligation to the end customer over the subscription term. The series of distinct services represents a single performance obligation that is satisfied over time. The Company recognizes revenue ratably because the customer receives and consumes the benefits of the platform throughout the contract period. The Company's contracts are generally non-cancelable. Professional Services and Other Revenue Professional services revenue consists of implementation services sold with new subscriptions as well as professional services sold separately. Other revenue includes training and education. Professional services arrangements are billed in advance, and revenue from these arrangements is recognized as the services are provided, generally based on hours incurred. Training and education revenue is also recognized as the services are provided. Contracts with Multiple Performance Obligations Most of the Company's contracts with new customers contain multiple performance obligations, generally consisting of subscriptions and professional services. For these contracts, individual performance obligations are accounted for separately if they are distinct. The transaction price is allocated to the separate performance obligations on a relative standalone selling price basis. Standalone selling prices are determined based on historical standalone selling prices, taking into consideration overall pricing objectives, market conditions and other factors, including contract value, customer demographics and the number and types of users within the contract. Deferred Revenue The Company's contracts are typically billed annually in advance. Deferred revenue includes amounts collected or billed in excess of revenue recognized. Deferred revenue is recognized as revenue as the related performance obligations are satisfied. Deferred revenue that will be recognized during the succeeding twelve-month period is recorded as a current liability and the remaining portion is recorded as a noncurrent liability. Cost of Revenue Cost of subscription revenue consists primarily of third-party hosting services and data center capacity; employee-related costs directly associated with cloud infrastructure and customer support personnel, including salaries, benefits, bonuses and stock-based compensation; amortization expense associated with capitalized software development costs; depreciation expense associated with computer equipment and software; certain fees paid to various third parties for the use of their technology and services; and allocated overhead. Allocated overhead includes items such as information technology infrastructure, rent, and employee benefit costs. Cost of professional services and other revenue consists primarily of employee-related costs associated with these services, including stock-based compensation; third-party consultant fees; and allocated overhead. |
Deferred Offering Costs | Deferred Offering Costs The Company capitalized qualified legal, accounting and other direct costs related to the IPO. As of January 31, 2018 , the balance of deferred offering costs was $1.7 million , which was included in other assets in the consolidated balance sheets. During the year ended January 31, 2019 , the Company reclassified $4.2 million of offering costs into stockholders’ equity as a reduction of the net proceeds received from the IPO. As of January 31, 2019 , there were no deferred offering costs. |
Property and Equipment | Property and Equipment Property and equipment, net, are stated at cost less accumulated depreciation. Depreciation is calculated using the straight-line method over the estimated useful lives of the assets or over the related lease terms (if shorter). Repairs and maintenance costs are expensed as incurred. The estimated useful lives of property and equipment are as follows: Computer equipment and software 2-3 years Furniture, vehicles and office equipment 3 years Leasehold improvements Shorter of remaining lease term or estimated useful life |
Capitalized Internal-Use Software Costs | Capitalized Internal-Use Software Costs The Company capitalizes certain costs related to development of its platform incurred during the application development stage. Costs related to preliminary project activities and post-implementation activities are expensed as incurred. Maintenance and training costs are also expensed as incurred. Capitalized costs are included in property and equipment. Capitalized internal-use software is amortized as subscription cost of revenue on a straight-line basis over its estimated useful life, which is generally three years . Management evaluates the useful lives of these assets on an annual basis and tests for impairment whenever events or changes in circumstances occur that could impact the recoverability of these assets. |
Goodwill and Intangible Assets | Goodwill and Intangible Assets Goodwill represents the excess of the purchase price in a business combination over the fair value of net tangible and intangible assets acquired. Goodwill and indefinite-lived intangible assets are not amortized, but rather tested for impairment at least annually on November 1 or more often if and when circumstances indicate that the carrying value may not be recoverable. Finite-lived intangible assets are amortized over their useful lives. Goodwill is tested for impairment based on reporting units. The Company periodically reevaluates the business and has determined that it continues to operate in one segment, which is also considered the sole reporting unit. Therefore, goodwill is tested for impairment at the consolidated level. The Company reviews its long-lived assets, including property and equipment and finite-lived intangible assets, for impairment whenever an event or change in facts and circumstances indicates that their carrying amounts may not be recoverable. Recoverability of these assets is measured by comparing the carrying amount to the estimated undiscounted future cash flows expected to be generated. If the carrying amount exceeds the undiscounted cash flows, the assets are determined to be impaired and an impairment charge is recognized as the amount by which the carrying amount exceeds fair value. |
Advertising Costs | Advertising Costs Advertising costs are expensed as incurred. Advertising expense was $17.8 million , $26.4 million and $13.7 million for the years ended January 31, 2017, 2018 and 2019 , respectively. |
Research and Development | Research and Development Research and development expenses consist primarily of employee-related costs for the design and development of the Company's platform, contractor costs to supplement staff levels, third-party web services, consulting services, and allocated overhead. Research and development expenses, other than software development costs qualifying for capitalization, are expensed as incurred. |
Share-Based Compensation | Stock-Based Compensation The Company records stock-based compensation based on the grant date fair value of the awards, which include stock options and restricted stock units, and recognizes the fair value of those awards as expense using the straight-line method over the requisite service period of the award. For restricted stock units that contain performance conditions, the Company recognizes expense using the accelerated attribution method if it is probable the performance conditions will be met. The Company estimates the grant date fair value of stock options using the Black-Scholes option-pricing model. Stock-based compensation expense related to purchase rights issued under the 2018 Employee Stock Purchase Plan (ESPP) is based on the Black-Scholes option-pricing model fair value of the estimated number of awards as of the beginning of the offering period. Stock-based compensation expense is recognized using the straight-line method over the offering period. The determination of the grant date fair value of stock-based awards is affected by the estimated fair value of the Company's common stock as well as other assumptions and judgments, which are estimated as follows: • Fair Value Per Share of Common Stock . Because there was no public market for the Company's common stock prior to the IPO, the board of directors determined the common stock fair value at the grant date by considering numerous objective and subjective factors, including contemporaneous valuations of the Company’s common stock, actual operating and financial performance, market conditions, and performance of comparable publicly traded companies, business developments, the likelihood of achieving a liquidity event, and transactions involving preferred and common stock, among other factors. Subsequent to the IPO, the Company determines the fair value of common stock as of each grant date using the market closing price of the Company's Class B common stock on the date of grant. • Expected Term . The expected term is determined using the simplified method, which is calculated as the midpoint of the option’s contractual term and vesting period. The Company uses this method due to limited stock option exercise history. For the ESPP, the expected term is the beginning of the offering period to the end of each purchase period. • Expected Volatility . Since a public market for the Company's common stock did not exist prior to the IPO and, therefore, the Company does not have sufficient trading history of its common stock, expected volatility is estimated based on the volatility of similar publicly held companies over a period equivalent to the expected term of the awards. • Risk-free Interest Rate . The risk-free interest rate is determined using U.S. Treasury rates with a similar term as the expected term of the option. • Expected Dividend Yield . The Company has never declared or paid any cash dividends and does not presently plan to pay cash dividends in the foreseeable future. Consequently, the Company uses an expected dividend yield of zero. |
Income Taxes | Income Taxes The Company accounts for income taxes in accordance with the liability method of accounting for income taxes. Under this method, the Company recognizes a liability or asset for the deferred income tax consequences of all temporary differences between the tax basis of assets and liabilities and their reported amounts in the consolidated financial statements that will result in taxable or deductible amounts in future years when the reported amounts of the assets and liabilities are recovered or settled. These deferred income tax assets or liabilities are measured using the enacted tax rates that will be in effect when the differences are expected to affect taxable income. Valuation allowances are provided when it is more-likely-than-not that some or all of the deferred income tax assets may not be realized. In assessing the need for a valuation allowance, the Company has considered its historical levels of income, expectations of future taxable income and ongoing tax planning strategies. Because of the uncertainty of the realization of its deferred tax assets, the Company has a full valuation allowance for domestic net deferred tax assets, including net operating loss carryforwards, and tax credits related primarily to research and development. Realization of its deferred tax assets is dependent primarily upon future U.S. taxable income. Tax positions are recognized in the consolidated financial statements when it is more-likely-than-not the position will be sustained upon examination by the tax authorities. The Company’s policy for recording interest and penalties related to income taxes, including uncertain tax positions, is to record such items as a component of the provision for income taxes. |
Concentration of Risk and Significant Customers | Concentrations of Risk and Significant Customers Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents and accounts receivable. The Company maintains its cash and cash equivalents in bank accounts, which at times may exceed federally insured limits. The Company has not experienced any losses in these instruments and believes it is not exposed to any significant risk with respect to cash and cash equivalents. |
Concentration of Significant Customers | The Company is primarily dependent upon third parties in order to meet the uptime and performance requirements of its customers. Any disruption of or interference with the Company's use of these third parties would impact operations. |
Net Loss Per Share | Net Loss per Share The Company computes net loss per share using the two-class method required for multiple classes of common stock and participating securities. The rights, including the liquidation and dividend rights, of the Class A common stock and Class B common stock are substantially identical, other than voting rights. Accordingly, the Class A common stock and Class B common stock share equally in the Company’s net losses. Before the IPO, the Company’s participating securities also included convertible preferred stock. The holders of convertible preferred stock did not have a contractual obligation to share in the Company’s losses, and as a result net losses were not allocated to these participating securities. Basic net loss per share is computed by dividing net loss by the weighted-average number of shares of common stock outstanding during the period. Diluted net loss per share is computed by dividing net loss attributable to common stockholders by the weighted-average number of shares of common stock outstanding during the period increased by common shares that could be issued upon conversion or exercise of other outstanding securities to the extent those additional common shares would be dilutive. The dilutive effect of potentially dilutive securities is reflected in diluted net loss per share by application of the treasury stock method. During periods when the Company is in a net loss position, basic net loss per share is the same as diluted net loss per share as the effects of potentially dilutive securities are anti-dilutive. |
Recent Accounting Pronouncements | Recently Adopted Accounting Pronouncements ASU No. 2014-09 In May 2014, the Financial Accounting Standards Board or FASB issued Accounting Standards Update or ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606). Topic 606 establishes a principle for recognizing revenue upon the transfer of promised goods or services to customers in an amount that reflects the considerations to which the entity expects to be entitled to in exchange for those goods or services. ASU No. 2014-09 also added Subtopic 340-40, Other Assets and Deferred Costs - Contracts with Customers , which requires the deferral of incremental costs of obtaining a contract with a customer. Topic 606 and Subtopic 340-40 are collectively referred to herein as the "new standard." The Company elected to early adopt the requirements of the new standard as of February 1, 2017 with an initial application date of February 1, 2016, utilizing the full retrospective method of transition. The primary impact of adopting the new standard is the deferral of incremental costs of obtaining subscription contracts. Prior to adopting the new standard, deferral of commissions was not required and the Company's policy was to expense commission costs as incurred. Under the new standard, all incremental costs to obtain the contract are deferred if the period of benefit is greater than one year. These costs are amortized on a straight-line basis over the period of benefit, the determination of which is discussed in the contract acquisition costs policy above. ASU No. 2016-09 In March 2016, the FASB issued ASU No. 2016-09, Compensation—Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting , which simplifies and improves several aspects of the accounting for employee share-based payment transactions such as the income tax consequences, classification of awards as either equity or liabilities on the balance sheet, and classification of employee taxes paid on statement of cash flows when an employer withholds shares for tax-withholding purposes. The standard also provides an accounting policy election to account for forfeitures as they occur. The Company elected to early adopt ASU 2016-09 as of February 1, 2016, and as part of the adoption elected to account for forfeitures as they occur. Therefore, stock-based compensation expense for the years ended January 31, 2017, 2018 and 2019 has been calculated based on actual forfeitures in the consolidated statements of operations, rather than the previous approach, which was net of estimated forfeitures. The net cumulative effect of this change of $0.6 million was recorded as a reduction to paid-in capital and accumulated deficit as of February 1, 2016. The other aspects of ASU 2016-09 did not have a material impact on the Company's consolidated financial statements. Recently Issued Accounting Pronouncements In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842), which requires lessees to record most leases on the balance sheet and recognize the expenses on the income statement in a manner similar to current practice. ASU 2016-02 states that a lessee would recognize a lease liability for the obligation to make lease payments and a right-to-use asset for the right to use the underlying asset for the lease term. For public entities, the new standard is effective for fiscal years beginning after December 15, 2018 and interim periods within that reporting period. For all other entities, this standard is effective for annual reporting periods beginning after December 15, 2019 and interim periods within annual periods beginning after December 15, 2020. Early adoption is permitted. The Company expects to adopt this standard as of February 1, 2020, assuming it remains an emerging growth company. The Company is currently evaluating the impact to its consolidated financial statements and related disclosures, but expects assets and liabilities related to leases to increase as a result of adopting this standard. |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Jan. 31, 2019 | |
Accounting Policies [Abstract] | |
Schedule of Changes in Company's Allowance for Doubtful Accounts | Changes in the Company's allowance for doubtful accounts for the years ended January 31, 2017, 2018 and 2019 were as follows (in thousands): Beginning balance $ 771 Additions 3,519 Write-offs (2,710 ) Balance as of January 31, 2017 1,580 Additions 5,003 Write-offs (3,664 ) Balance as of January 31, 2018 2,919 Additions 5,033 Write-offs (4,565 ) Balance as of January 31, 2019 $ 3,387 |
Schedule of Estimated Useful Lives of Property, Plant and Equipment | The estimated useful lives of property and equipment are as follows: Computer equipment and software 2-3 years Furniture, vehicles and office equipment 3 years Leasehold improvements Shorter of remaining lease term or estimated useful life Property and equipment, net consisted of the following (in thousands): As of January 31, 2018 2019 Computer equipment and software $ 16,201 $ 16,575 Capitalized internal-use software development costs 11,823 18,140 Leasehold improvements 3,558 2,849 Furniture, vehicles and office equipment 2,430 2,537 34,012 40,101 Less accumulated depreciation and amortization (19,060 ) (27,506 ) $ 14,952 $ 12,595 |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 12 Months Ended |
Jan. 31, 2019 | |
Fair Value Disclosures [Abstract] | |
Summary of Assets Measured at Fair Value on Recurring Basis | The following table summarizes the assets measured at fair value on a recurring basis as of January 31, 2018 and January 31, 2019 by level within the fair value hierarchy (in thousands): January 31, 2018 Level 1 Level 2 Level 3 Total Cash equivalents: Money market funds $ 15,210 $ — $ — $ 15,210 Financial liability: Series D-2 convertible preferred stock warrants $ — $ — $ 229 $ 229 January 31, 2019 Level 1 Level 2 Level 3 Total Cash equivalents: Money market funds $ 170,998 $ — $ — $ 170,998 |
Schedule of Changes in Fair Value of Level 3 Instruments | The changes in the fair value of the Series D-2 convertible preferred stock and Class B common stock warrant liabilities were as follows (in thousands): Balance as of January 31, 2017 $ — Issuance of convertible preferred stock warrants 257 Decrease in fair value of convertible preferred stock warrants (28 ) Balance as of January 31, 2018 229 Decrease in fair value of convertible preferred stock warrants (16 ) Write-off of convertible preferred stock warrant liability due to conversion to warrants on Class B common stock (213 ) Issuance of Class B common stock warrants 166 Decrease in fair value of Class B common stock warrants (40 ) Reclassification to additional paid-in capital of Class B common stock warrant liability due to resolution of contingency (126 ) Balance as of January 31, 2019 $ — |
Schedule of Assumptions Used to Measure Level 3 Instruments at Fair Value | At each reporting date or immediately prior to an event that changes the classification of the related warrants from liability to equity, the warrant liabilities are remeasured to fair value using the Black-Scholes option-pricing model. The assumptions used as of January 31, 2018 and during the year ended January 31, 2019 were as follows: January 31, 2018 2019 Expected stock price volatility 45% 42% - 44% Expected term 2.6 years 2.6 - 3.0 years Risk-free interest rate 2.72% 2.54% - 2.60% Expected dividend yield — — |
Property and Equipment (Tables)
Property and Equipment (Tables) | 12 Months Ended |
Jan. 31, 2019 | |
Property, Plant and Equipment [Abstract] | |
Schedule of Property and Equipment | The estimated useful lives of property and equipment are as follows: Computer equipment and software 2-3 years Furniture, vehicles and office equipment 3 years Leasehold improvements Shorter of remaining lease term or estimated useful life Property and equipment, net consisted of the following (in thousands): As of January 31, 2018 2019 Computer equipment and software $ 16,201 $ 16,575 Capitalized internal-use software development costs 11,823 18,140 Leasehold improvements 3,558 2,849 Furniture, vehicles and office equipment 2,430 2,537 34,012 40,101 Less accumulated depreciation and amortization (19,060 ) (27,506 ) $ 14,952 $ 12,595 |
Intangible Assets (Tables)
Intangible Assets (Tables) | 12 Months Ended |
Jan. 31, 2019 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Schedule of Finite-lived Intangible Assets | Intangible assets consisted of the following (in thousands): As of January 31, 2018 2019 Intellectual property excluding patents $ 2,289 $ 2,289 Software licenses — 1,603 Patents 950 950 3,239 4,842 Less accumulated amortization (213 ) (427 ) $ 3,026 $ 4,415 |
Schedule of Indefinite-Lived Intangible Assets | Intangible assets consisted of the following (in thousands): As of January 31, 2018 2019 Intellectual property excluding patents $ 2,289 $ 2,289 Software licenses — 1,603 Patents 950 950 3,239 4,842 Less accumulated amortization (213 ) (427 ) $ 3,026 $ 4,415 |
Schedule of Future Amortization Expense | As of January 31, 2019 , future amortization expense for definite-lived intangible assets is estimated to be as follows (in thousands): Year Ending January 31, 2020 $ 614 2021 614 2022 481 2023 80 2024 80 Thereafter 257 $ 2,126 |
Accrued Expenses and Other Cu_2
Accrued Expenses and Other Current Liabilities (Tables) | 12 Months Ended |
Jan. 31, 2019 | |
Payables and Accruals [Abstract] | |
Schedule of Accrued Expenses and Other Current Liabilities | Accrued expenses and other current liabilities consisted of the following (in thousands): As of January 31, 2018 2019 Accrued payroll taxes $ 13,925 $ 12,251 Accrued expenses 11,677 8,688 Accrued commissions 6,120 6,495 Accrued benefits 6,005 6,142 Accrued bonus 7,200 5,338 Employee stock purchase plan liability — 3,848 Sales and other taxes payable 966 1,409 Other accrued liabilities 3,535 3,968 $ 49,428 $ 48,139 |
Deferred Revenue and Performa_2
Deferred Revenue and Performance Obligations (Tables) | 12 Months Ended |
Jan. 31, 2019 | |
Revenue from Contract with Customer [Abstract] | |
Schedule of Changes in Deferred Revenue Balance | Significant changes in the Company's deferred revenue balance for the years ended January 31, 2017, 2018 and 2019 were as follows (in thousands): Beginning balance at February 1, 2016 (reflects cumulative effect adjustment from adoption of ASU 2014-09) $ 32,064 Revenue recognized that was included in the deferred revenue balance at the beginning of the period: Subscription $ (26,964 ) Professional services and other (4,664 ) Total (31,628 ) Increase due to billings excluding amounts recognized as revenue during the period 49,500 Balance as of January 31, 2017 49,936 Revenue recognized that was included in the deferred revenue balance at the beginning of the period: Subscription $ (42,383 ) Professional services and other (6,079 ) Total (48,462 ) Increase due to billings excluding amounts recognized as revenue during the period 69,482 Balance as of January 31, 2018 70,956 Revenue recognized that was included in the deferred revenue balance at the beginning of the period: Subscription $ (61,283 ) Professional services and other (4,991 ) Total (66,274 ) Increase due to billings excluding amounts recognized as revenue during the period 89,220 Balance as of January 31, 2019 $ 93,902 |
Geographic Information (Tables)
Geographic Information (Tables) | 12 Months Ended |
Jan. 31, 2019 | |
Revenue from Contract with Customer [Abstract] | |
Schedule of Revenue by Geographic Area | Revenue by geographic area is determined by the billing address of the customer. The following table sets forth revenue by geographic area (in thousands): Year Ended January 31, 2017 2018 2019 United States $ 64,144 $ 88,748 $ 110,181 Outside the United States 10,396 19,776 32,283 Total $ 74,540 $ 108,524 $ 142,464 Percentage of revenue by geographic area: United States 86 % 82 % 77 % Outside the United States 14 % 18 % 23 % |
Line of Credit and Credit Fac_2
Line of Credit and Credit Facility (Tables) | 12 Months Ended |
Jan. 31, 2019 | |
Debt Disclosure [Abstract] | |
Schedule of Long-term Debt | The balances in long-term debt consisted of the following: As of January 31, 2018 2019 Principal $ 50,201 $ 102,494 Less: unamortized debt issuance costs (3,869 ) (5,249 ) Net carrying amount $ 46,332 $ 97,245 |
Commitments and Contingencies (
Commitments and Contingencies (Tables) | 12 Months Ended |
Jan. 31, 2019 | |
Commitments and Contingencies Disclosure [Abstract] | |
Schedule of Future Minimum Lease Payments | Future minimum lease payments under noncancelable operating leases were as follows as of January 31, 2019 (in thousands): Total Expected Sublease Income Net Year Ending January 31: 2020 $ 7,162 $ (449 ) $ 6,713 2021 3,258 (706 ) 2,552 2022 1,571 (619 ) 952 2023 1,113 (338 ) 775 2024 1,144 — 1,144 Thereafter 4,799 — 4,799 $ 19,047 $ (2,112 ) $ 16,935 |
Equity Incentive Plans (Tables)
Equity Incentive Plans (Tables) | 12 Months Ended |
Jan. 31, 2019 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Schedule of Recognized Stock-based Compensation Expense | The Company recognized stock-based compensation expense related to its equity incentive plans as follows (in thousands): Year Ended January 31, 2017 2018 2019 Cost of revenue: Subscription $ 46 $ 48 $ 219 Professional services and other 45 40 154 Sales and marketing 1,930 1,845 7,387 Research and development 2,206 2,311 6,519 General and administrative 5,099 5,090 7,492 Interest expense 17 36 30 Total $ 9,343 $ 9,370 $ 21,801 |
Schedule of Weighted-average Assumptions Used in Estimating Grant-date Fair Value of Options | The grant-date fair value of stock options was estimated using the Black-Scholes option-pricing model with the following weighted-average assumptions: Year Ended January 31, 2017 2018 Expected stock price volatility 48 % 47 % Expected term 6 years 6 years Risk-free interest rate 1.28% - 1.42% 1.83 % Expected dividend yield — — Fair value of common stock $27.60 $28.20 |
Schedule of Outstanding Stock Options and Related Activity | The grant-date fair value of stock options was estimated using the Black-Scholes option-pricing model with the following weighted-average assumptions: Year Ended January 31, 2017 2018 Expected stock price volatility 48 % 47 % Expected term 6 years 6 years Risk-free interest rate 1.28% - 1.42% 1.83 % Expected dividend yield — — Fair value of common stock $27.60 $28.20 The following table sets forth the outstanding common stock options and related activity for the years ended January 31, 2017, 2018 and 2019 : Shares Subject to Outstanding Options Weighted- Average Exercise Price per Share Weighted-Average Remaining Contractual Term (years) Aggregate Intrinsic Value (in thousands) Outstanding as of January 31, 2016 2,312,633 $ 20.20 8.0 $ 59,509 Granted 399,239 27.60 Exercised (113,546 ) 6.58 Forfeited (45,702 ) 33.64 Expired (10,599 ) 22.21 Outstanding as of January 31, 2017 2,542,025 21.72 7.3 19,377 Granted 161,715 28.20 Exercised (111,688 ) 12.00 Forfeited (102,828 ) 35.79 Expired (23,982 ) 31.63 Outstanding as of January 31, 2018 2,465,242 21.90 6.4 12,185 Exercised (367,991 ) 6.09 Forfeited (101,782 ) 30.69 Expired (139,130 ) 34.06 Outstanding as of January 31, 2019 1,856,339 $ 23.64 5.6 $ 8,443 Vested and exercisable at January 31, 2019 1,709,661 $ 23.20 5.4 $ 8,443 |
Schedule of Outstanding RSUs and Related Activity | The following table sets forth the outstanding RSUs and related activity for the years ended January 31, 2017, 2018 and 2019 : Number of Shares Weighted- Average Grant Date Fair Value Outstanding as of January 31, 2016 — $ — Granted 33,666 27.60 Outstanding as of January 31, 2017 33,666 27.60 Granted 988,601 23.40 Canceled (21,041 ) 27.60 Outstanding as of January 31, 2018 1,001,226 23.40 Granted 1,743,393 18.06 Vested (12,625 ) 27.60 Canceled (403,872 ) 21.29 Outstanding as of January 31, 2019 2,328,122 $ 19.77 |
Schedule of Weighted-average Assumptions Used in Determining Grant-date Fair Value of ESPP Purchase Rights | The fair value of the purchase rights for the ESPP are estimated on the date of grant using the Black-Scholes option-pricing model with the following assumptions: Expected stock price volatility 31% - 36% Expected term 0.75 - 2.25 years Risk-free interest rate 2.22% - 2.54% Expected dividend yield – |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Jan. 31, 2019 | |
Income Tax Disclosure [Abstract] | |
Schedule of Components of Income Tax Provision | The components of the income tax provision were as follows (in thousands): Year Ended January 31, 2017 2018 2019 Current income provision: Federal $ — $ — $ — State 89 3 9 Foreign 443 233 1,137 532 236 1,146 Deferred income tax provision: Federal 45 (32 ) (125 ) State 8 12 (39 ) Foreign 188 169 266 241 149 102 Provision for income taxes $ 773 $ 385 $ 1,248 |
Schedule of Effective Income Tax Rate Reconciliation | Total income tax expense differed from the amounts computed by applying the U.S. federal income tax rate to income before income tax expense as a result of the following (in thousands): Year Ended January 31, 2017 2018 2019 Tax benefit at U.S. federal statutory rate (1) $ (61,998 ) $ (57,992 ) $ (32,143 ) State income taxes, net of federal tax benefit (10,841 ) (11,679 ) (10,114 ) Non-deductible expenses 1,522 1,095 997 Foreign taxes 37 48 697 Stock-based compensation 1,081 896 1,469 Research and development credits (1,784 ) (2,516 ) (2,618 ) Change in valuation allowance 72,769 (15,199 ) 42,975 Deferred tax effect of Tax Act rate change — 85,725 — Other (13 ) 7 (15 ) Provision for income taxes $ 773 $ 385 $ 1,248 ________________ (1) The statutory tax rates used in this analysis were 34% , 33% and 21% for the years ended January 31, 2017, 2018 and 2019 , respectively. The rate used for the year ended January 31, 2018 takes into account the number of days in the fiscal year after the Tax Cuts and Jobs Act was enacted where the statutory rate decreased to 21% . |
Schedule of Deferred Tax Assets and Liabilities | The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and liabilities were as follows (in thousands): As of January 31, 2018 2019 Deferred tax assets: Net operating loss carryforwards $ 186,299 $ 223,765 Stock based compensation 6,892 9,784 Accruals and other reserves 5,821 4,222 Research and development credit carryforwards 9,615 12,729 Other 1,871 5,229 Gross deferred tax assets 210,498 255,729 Valuation allowance (203,704 ) (246,679 ) Total deferred tax assets, net of valuation allowance 6,794 9,050 Deferred tax liabilities: Contract acquisition costs (5,132 ) (6,987 ) Capitalized software (1,929 ) (2,581 ) Basis difference in intangible assets (471 ) (297 ) Total deferred tax liabilities (7,532 ) (9,865 ) Net deferred tax liabilities $ (738 ) $ (815 ) |
Summary of Aggregate Changes in Unrecognized Tax Benefits | During the fiscal years ended years ended January 31, 2017, 2018 and 2019 , the aggregate changes in the total gross amount of unrecognized tax benefits were as follows (in thousands): Year Ended January 31, 2017 2018 2019 Beginning balance $ 2,055 $ 2,737 $ 3,637 (Decrease) increase in unrecognized tax benefits taken in prior years (27 ) 675 872 Increase in unrecognized tax benefits related to current year 709 225 49 $ 2,737 $ 3,637 $ 4,558 |
Net Loss Per Share (Tables)
Net Loss Per Share (Tables) | 12 Months Ended |
Jan. 31, 2019 | |
Earnings Per Share [Abstract] | |
Schedule of Computation of Net Loss Per Share | The following tables set forth the calculation of basic and diluted net loss per share during the periods presented. The shares issued in the IPO and the shares of Class A and Class B common stock issued upon conversion of the outstanding shares of convertible preferred stock in the IPO are included in the table below weighted for the period outstanding in the years ended January 31, 2017, 2018 and 2019 (in thousands, except per share amounts): Year Ended January 31, 2017 2018 2019 Class A Class B Class A Class B Class A Class B Numerator: Net loss $ — $ (183,120 ) $ — $ (176,562 ) $ (18,305 ) $ (136,004 ) Denominator: Weighted-average number of shares used in computing net loss per share, basic and diluted — 1,466 — 1,595 1,941 14,417 Net loss per share, basic and diluted $ — $ (124.90 ) $ — $ (110.70 ) $ (9.43 ) $ (9.43 ) |
Schedule of Antidilutive Securities Excluded from Computation of Net Loss Per Share | Since the Company was in a loss position for all periods presented, basic net loss per share is the same as diluted net loss per share for all periods as the inclusion of all potential common shares outstanding would have been anti-dilutive. The weighted-average impact of potentially dilutive securities that were not included in the diluted per share calculations because they would be anti-dilutive was as follows: Year Ended January 31, 2017 2018 2019 Convertible preferred stock on an if-converted basis 13,288,510 13,938,953 5,716,829 Options to purchase common stock 676,467 553,581 469,936 Restricted stock units — — 310,811 Common stock warrants 3,179 3,023 4,357 13,968,156 14,495,557 6,501,933 |
Overview and Basis of Present_2
Overview and Basis of Presentation (Details) $ / shares in Units, $ in Thousands | Jul. 03, 2018USD ($)$ / sharesshares | Jul. 02, 2018shares | Jun. 28, 2018USD ($) | Jun. 15, 2018 | Jan. 31, 2019USD ($)segmentshares | Jan. 31, 2018USD ($)shares | Jan. 31, 2017USD ($) |
Conversion of Stock [Line Items] | |||||||
Offering costs | $ | $ 4,053 | $ 38 | $ 0 | ||||
Convertible preferred stock, shares issued (shares) | shares | 14,098,937 | 0 | 14,099,000 | ||||
Reverse stock split ratio | 0.0667 | ||||||
Number of operating segments | segment | 1 | ||||||
Class A Common Stock | |||||||
Conversion of Stock [Line Items] | |||||||
Convertible preferred stock converted into common stock (shares) | shares | 3,263,659 | ||||||
Class B Common Stock | |||||||
Conversion of Stock [Line Items] | |||||||
Convertible preferred stock converted into common stock (shares) | shares | 10,835,278 | ||||||
Restricted stock units | |||||||
Conversion of Stock [Line Items] | |||||||
Accelerated compensation cost recognized | $ | $ 6,600 | $ 6,600 | |||||
Compensation cost not yet recognized | $ | $ 30,700 | ||||||
Recognition period for compensation cost not yet recognized | 2 years 1 month | ||||||
IPO | Class B Common Stock | |||||||
Conversion of Stock [Line Items] | |||||||
Shares issued and sold in IPO from underwriters' over-allotment option (shares) | shares | 10,580,000 | ||||||
Proceeds from initial public offering, net of underwriting discounts and commissions | $ | $ 206,600 | ||||||
Offering costs | $ | $ 4,100 | ||||||
Over-Allotment Option | Class B Common Stock | |||||||
Conversion of Stock [Line Items] | |||||||
Shares issued and sold in IPO from underwriters' over-allotment option (shares) | shares | 1,380,000 | ||||||
Stock exercise price (in usd per share) | $ / shares | $ 21 |
Summary of Significant Accoun_4
Summary of Significant Accounting Policies - Narrative (Details) | 12 Months Ended | |||
Jan. 31, 2019USD ($)segment | Jan. 31, 2018USD ($) | Jan. 31, 2017USD ($) | Feb. 01, 2016USD ($) | |
Finite-Lived Intangible Assets [Line Items] | ||||
Amortization period for capitalized contract acquisition costs | 4 years | |||
Amortization of expense related to contract acquisition costs | $ 8,168,000 | $ 9,014,000 | $ 7,782,000 | |
Impairment charge in relation to contract acquisition costs | 0 | 0 | 0 | |
Capitalized deferred offering costs | 0 | 1,700,000 | ||
Offering costs reclassified to stockholders' equity | $ 4,200,000 | |||
Number of operating segments | segment | 1 | |||
Goodwill acquired | $ 0 | 0 | 0 | |
Impairment charges for goodwill or long-lived assets | 0 | 0 | 0 | |
Advertising expense | $ 13,700,000 | $ 26,400,000 | $ 17,800,000 | |
Capitalized internal-use software development costs | ||||
Finite-Lived Intangible Assets [Line Items] | ||||
Estimated useful life of intangible assets | 3 years | |||
Additional Paid-in Capital | ASU 2016-09 | ||||
Finite-Lived Intangible Assets [Line Items] | ||||
Cumulative effect of change | $ 600,000 | |||
Accumulated Deficit | ASU 2016-09 | ||||
Finite-Lived Intangible Assets [Line Items] | ||||
Cumulative effect of change | $ 600,000 |
Summary of Significant Accoun_5
Summary of Significant Accounting Policies - Schedule of Changes in Company's Allowance for Doubtful Accounts (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 31, 2019 | Jan. 31, 2018 | Jan. 31, 2017 | |
Allowance for Doubtful Accounts Receivable [Roll Forward] | |||
Beginning balance | $ 2,919 | $ 1,580 | $ 771 |
Additions | 5,033 | 5,003 | 3,519 |
Write-offs | (4,565) | (3,664) | (2,710) |
Ending balance | $ 3,387 | $ 2,919 | $ 1,580 |
Summary of Significant Accoun_6
Summary of Significant Accounting Policies - Property and Equipment (Details) | 12 Months Ended |
Jan. 31, 2019 | |
Computer equipment and software | Minimum | |
Property, Plant and Equipment [Line Items] | |
Estimated useful lives of property and equipment | 2 years |
Computer equipment and software | Maximum | |
Property, Plant and Equipment [Line Items] | |
Estimated useful lives of property and equipment | 3 years |
Furniture, vehicles and office equipment | |
Property, Plant and Equipment [Line Items] | |
Estimated useful lives of property and equipment | 3 years |
Fair Value Measurements - Asset
Fair Value Measurements - Assets Measured at Fair Value on Recurring Basis (Details) - Recurring Basis - USD ($) $ in Thousands | Jan. 31, 2019 | Jan. 31, 2018 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Money market funds | $ 170,998 | $ 15,210 |
Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Money market funds | 170,998 | 15,210 |
Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Money market funds | 0 | 0 |
Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Money market funds | $ 0 | 0 |
Series D-2 convertible preferred stock warrants | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Series D-2 convertible preferred stock warrants | 229 | |
Series D-2 convertible preferred stock warrants | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Series D-2 convertible preferred stock warrants | 0 | |
Series D-2 convertible preferred stock warrants | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Series D-2 convertible preferred stock warrants | 0 | |
Series D-2 convertible preferred stock warrants | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Series D-2 convertible preferred stock warrants | $ 229 |
Fair Value Measurements - Chang
Fair Value Measurements - Changes in Fair Value of Level 3 Instruments (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Jan. 31, 2019 | Jan. 31, 2018 | |
Changes in Fair Value of Level 3 Instruments | ||
Beginning balance | $ 229 | $ 0 |
Decrease in fair value of stock warrants | (28) | |
Write-off of convertible preferred stock warrant liability due to conversion to warrants on Class B common stock | (213) | |
Issuance of Class B common stock warrants | 166 | 257 |
Reclassification to additional paid-in capital of Class B common stock warrant liability due to resolution of contingency | (126) | |
Ending balance | 0 | $ 229 |
Convertible Preferred Stock Warrants | ||
Changes in Fair Value of Level 3 Instruments | ||
Decrease in fair value of stock warrants | (16) | |
Class B Common Stock Warrants | ||
Changes in Fair Value of Level 3 Instruments | ||
Decrease in fair value of stock warrants | $ (40) |
Fair Value Measurements - Assum
Fair Value Measurements - Assumptions Used to Measure Level 3 Instruments at Fair Value (Details) | Jan. 31, 2019 | Jan. 31, 2018 |
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Expected term | 2 years 7 months 6 days | |
Expected stock price volatility | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Measurement input assumptions used for warrants outstanding (percent) | 0.45 | |
Risk-free interest rate | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Measurement input assumptions used for warrants outstanding (percent) | 0.0272 | |
Expected dividend yield | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Measurement input assumptions used for warrants outstanding (percent) | 0 | 0 |
Minimum | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Expected term | 2 years 7 months 10 days | |
Minimum | Expected stock price volatility | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Measurement input assumptions used for warrants outstanding (percent) | 0.42 | |
Minimum | Risk-free interest rate | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Measurement input assumptions used for warrants outstanding (percent) | 0.0254 | |
Maximum | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Expected term | 3 years | |
Maximum | Expected stock price volatility | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Measurement input assumptions used for warrants outstanding (percent) | 0.44 | |
Maximum | Risk-free interest rate | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Measurement input assumptions used for warrants outstanding (percent) | 0.0260 |
Property and Equipment (Details
Property and Equipment (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 31, 2019 | Jan. 31, 2018 | Jan. 31, 2017 | |
Property, Plant and Equipment [Line Items] | |||
Property and equipment, gross | $ 40,101 | $ 34,012 | |
Less accumulated depreciation and amortization | (27,506) | (19,060) | |
Property and equipment, net | 12,595 | 14,952 | |
Depreciation, excluding exchange rate effect | 8,600 | 8,100 | $ 4,900 |
Software development costs capitalized | 6,300 | 2,200 | 4,900 |
Capitalized software development costs amortized | 3,900 | 3,200 | $ 1,500 |
Computer equipment and software | |||
Property, Plant and Equipment [Line Items] | |||
Property and equipment, gross | 16,575 | 16,201 | |
Capitalized internal-use software development costs | |||
Property, Plant and Equipment [Line Items] | |||
Property and equipment, gross | 18,140 | 11,823 | |
Leasehold improvements | |||
Property, Plant and Equipment [Line Items] | |||
Property and equipment, gross | 2,849 | 3,558 | |
Furniture, vehicles and office equipment | |||
Property, Plant and Equipment [Line Items] | |||
Property and equipment, gross | $ 2,537 | $ 2,430 |
Intangible Assets - Schedule of
Intangible Assets - Schedule of Intangible Assets (Details) - USD ($) $ in Thousands | Jan. 31, 2019 | Jan. 31, 2018 |
Finite-Lived Intangible Assets [Line Items] | ||
Intangible assets, gross | $ 4,842 | $ 3,239 |
Less accumulated amortization | (427) | (213) |
Intangible assets, net | 4,415 | 3,026 |
Patents | ||
Finite-Lived Intangible Assets [Line Items] | ||
Patents | 950 | 950 |
Intellectual property excluding patents | ||
Indefinite-lived Intangible Assets [Line Items] | ||
Intellectual property excluding patents and Software licenses | 2,289 | 2,289 |
Software licenses | ||
Indefinite-lived Intangible Assets [Line Items] | ||
Intellectual property excluding patents and Software licenses | $ 1,603 | $ 0 |
Intangible Assets - Narrative (
Intangible Assets - Narrative (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 31, 2019 | Jan. 31, 2018 | Jan. 31, 2017 | |
Finite-Lived Intangible Assets [Line Items] | |||
Amortization of intangible assets | $ 214 | $ 80 | $ 304 |
Software licenses | |||
Finite-Lived Intangible Assets [Line Items] | |||
Weighted-average amortization period | 3 years | ||
Patents | |||
Finite-Lived Intangible Assets [Line Items] | |||
Weighted-average amortization period | 8 years |
Intangible Assets - Future Amor
Intangible Assets - Future Amortization Expense (Details) $ in Thousands | Jan. 31, 2019USD ($) |
Year Ending January 31, | |
2020 | $ 614 |
2021 | 614 |
2022 | 481 |
2023 | 80 |
2024 | 80 |
Thereafter | 257 |
Future amortization expense | $ 2,126 |
Accrued Expenses and Other Cu_3
Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Thousands | Jan. 31, 2019 | Jan. 31, 2018 |
Payables and Accruals [Abstract] | ||
Accrued payroll taxes | $ 12,251 | $ 13,925 |
Accrued expenses | 8,688 | 11,677 |
Accrued commissions | 6,495 | 6,120 |
Accrued benefits | 6,142 | 6,005 |
Accrued bonus | 5,338 | 7,200 |
Employee stock purchase plan liability | 3,848 | 0 |
Sales and other taxes payable | 1,409 | 966 |
Other accrued liabilities | 3,968 | 3,535 |
Accrued expenses and other current liabilities | $ 48,139 | $ 49,428 |
Deferred Revenue and Performa_3
Deferred Revenue and Performance Obligations (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 31, 2019 | Jan. 31, 2018 | Jan. 31, 2017 | |
Contract with Customer, Liability, Increase (Decrease) [Roll Forward] | |||
Deferred revenue, beginning balance | $ 70,956 | $ 49,936 | $ 32,064 |
Revenue recognized that was included in the deferred revenue balance at the beginning of the period | (66,274) | (48,462) | (31,628) |
Increase due to billings excluding amounts recognized as revenue during the period | 89,220 | 69,482 | 49,500 |
Deferred revenue, ending balance | 93,902 | 70,956 | 49,936 |
Subscription | |||
Contract with Customer, Liability, Increase (Decrease) [Roll Forward] | |||
Revenue recognized that was included in the deferred revenue balance at the beginning of the period | (61,283) | (42,383) | (26,964) |
Professional services and other | |||
Contract with Customer, Liability, Increase (Decrease) [Roll Forward] | |||
Revenue recognized that was included in the deferred revenue balance at the beginning of the period | $ (4,991) | $ (6,079) | $ (4,664) |
Deferred Revenue and Performa_4
Deferred Revenue and Performance Obligations - Narrative (Details) $ in Millions | Jan. 31, 2019USD ($) |
Subscription | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-02-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenue expected to be recognized from remaining performance obligations | $ 109.1 |
Expected satisfaction period for remaining revenue performance obligations | 1 year |
Subscription | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-02-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenue expected to be recognized from remaining performance obligations | $ 42.5 |
Expected satisfaction period for remaining revenue performance obligations | |
Subscription | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: (nil) | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenue expected to be recognized from remaining performance obligations | $ 183.5 |
Professional services and other | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-02-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenue expected to be recognized from remaining performance obligations | $ 14.3 |
Expected satisfaction period for remaining revenue performance obligations | 1 year |
Professional services and other | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-02-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Expected satisfaction period for remaining revenue performance obligations | |
Professional services and other | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: (nil) | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenue expected to be recognized from remaining performance obligations | $ 16.1 |
Geographic Information - Revenu
Geographic Information - Revenue by Geographic Area (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 31, 2019 | Jan. 31, 2018 | Jan. 31, 2017 | |
Concentration Risk [Line Items] | |||
Total revenue | $ 142,464 | $ 108,524 | $ 74,540 |
United States | |||
Concentration Risk [Line Items] | |||
Total revenue | $ 110,181 | $ 88,748 | $ 64,144 |
United States | Revenue | Geographic concentration | |||
Concentration Risk [Line Items] | |||
Percentage of revenue by geographic area (percent) | 77.00% | 82.00% | 86.00% |
Outside the United States | |||
Concentration Risk [Line Items] | |||
Total revenue | $ 32,283 | $ 19,776 | $ 10,396 |
Outside the United States | Revenue | Geographic concentration | |||
Concentration Risk [Line Items] | |||
Percentage of revenue by geographic area (percent) | 23.00% | 18.00% | 14.00% |
Line of Credit and Credit Fac_3
Line of Credit and Credit Facility - Narrative (Details) | 1 Months Ended | 12 Months Ended | 17 Months Ended | ||||
Apr. 30, 2018USD ($)$ / sharesshares | Dec. 31, 2017USD ($)$ / sharesshares | Jul. 31, 2016USD ($) | Jan. 31, 2019USD ($)$ / sharesshares | Jan. 31, 2018USD ($) | Jan. 31, 2017USD ($) | Nov. 30, 2017USD ($) | |
Line of Credit Facility [Line Items] | |||||||
Interest capitalized | $ 2,293,000 | $ 202,000 | $ 0 | ||||
Upfront issuance fees incurred during period | 1,993,000 | 2,726,000 | 0 | ||||
Interest expense incurred | 11,100,000 | 1,200,000 | 100,000 | ||||
Secured credit facility | Line of Credit | |||||||
Line of Credit Facility [Line Items] | |||||||
Term of secured line of credit | 2 years | ||||||
Borrowing capacity under credit facility | $ 20,000,000 | ||||||
Annual commitment fee | $ 50,000 | ||||||
Annual commitment fee on unused portion of facility (percent) | 0.25% | ||||||
Draws made on line of credit | $ 0 | ||||||
Secured credit facility | Line of Credit | Credit Facility Maturing January 1, 2021 | |||||||
Line of Credit Facility [Line Items] | |||||||
Borrowing capacity under credit facility | $ 100,000,000 | $ 80,000,000 | |||||
Draws made on line of credit | $ 50,000,000 | 50,000,000 | |||||
Required closing fee under line of credit | 2,000,000 | ||||||
Upfront issuance fees incurred to-date | 1,200,000 | ||||||
Upfront issuance fees incurred during period | 300,000 | ||||||
Annualized recurring revenue as ratio of Company's aggregate revenue for preceding quarter | 4 | ||||||
Discount periods netted from calculation of annualized revenue | 1 year | ||||||
Covenant measurement period on a trailing basis | 3 months | ||||||
Other fee required under amended credit facility | $ 2,000,000 | ||||||
Secured credit facility | Term loan | Credit Facility Maturing January 1, 2021 | |||||||
Line of Credit Facility [Line Items] | |||||||
Additional amounts available to draw under credit facility | $ 30,000,000 | ||||||
Additional term loan borrowings incurred | $ 20,000,000 | ||||||
Minimum interest rate of portion of outstanding principal accruing interest at floating rate (percent) | 7.00% | ||||||
Interest rate at period end (percent) | 8.30% | ||||||
Interest rate of portion of outstanding principal accruing interest at fixed rate (percent) | 2.50% | ||||||
Interest capitalized | $ 2,300,000 | $ 200,000 | $ 0 | ||||
Required closing fee under line of credit | $ 7,000,000 | ||||||
Secured credit facility | Prime rate | Line of Credit | |||||||
Line of Credit Facility [Line Items] | |||||||
Spread on variable rate (percent) | 0.75% | ||||||
Secured credit facility | LIBOR | Term loan | Credit Facility Maturing January 1, 2021 | |||||||
Line of Credit Facility [Line Items] | |||||||
Spread on variable rate (percent) | 5.50% | ||||||
Series D-2 convertible preferred stock warrants | Credit Facility Maturing January 1, 2021 | |||||||
Line of Credit Facility [Line Items] | |||||||
Number of shares that can be purchased (shares) | shares | 28,462 | ||||||
Exercise price of warrants (in usd per share) | $ / shares | $ 126.47 | ||||||
Class B Common Stock Warrants | |||||||
Line of Credit Facility [Line Items] | |||||||
Number of shares that can be purchased (shares) | shares | 66,664 | 125,000 | |||||
Exercise price of warrants (in usd per share) | $ / shares | $ 45 | $ 17.8736 | |||||
Class B Common Stock Warrants | Credit Facility Maturing January 1, 2021 | |||||||
Line of Credit Facility [Line Items] | |||||||
Number of shares that can be purchased (shares) | shares | 66,664 | ||||||
Exercise price of warrants (in usd per share) | $ / shares | $ 45 | ||||||
January 31, 2019 and April 30, 2019 | Secured credit facility | Line of Credit | Credit Facility Maturing January 1, 2021 | |||||||
Line of Credit Facility [Line Items] | |||||||
Minimum ratio of outstanding debt to annualized recurring revenue | 0.85 | ||||||
July 31, 2019 and October 31, 2019 | Secured credit facility | Line of Credit | Credit Facility Maturing January 1, 2021 | |||||||
Line of Credit Facility [Line Items] | |||||||
Minimum ratio of outstanding debt to annualized recurring revenue | 0.8 | ||||||
January 31, 2020 and April 30, 2020 | Secured credit facility | Line of Credit | Credit Facility Maturing January 1, 2021 | |||||||
Line of Credit Facility [Line Items] | |||||||
Minimum ratio of outstanding debt to annualized recurring revenue | 0.75 | ||||||
July 31, 2020 and October 31, 2020 | Secured credit facility | Line of Credit | Credit Facility Maturing January 1, 2021 | |||||||
Line of Credit Facility [Line Items] | |||||||
Minimum ratio of outstanding debt to annualized recurring revenue | 0.7 | ||||||
January 31, 2021 | Secured credit facility | Line of Credit | Credit Facility Maturing January 1, 2021 | |||||||
Line of Credit Facility [Line Items] | |||||||
Minimum ratio of outstanding debt to annualized recurring revenue | 0.65 | ||||||
July 31, 2021 | Secured credit facility | Line of Credit | Credit Facility Maturing January 1, 2021 | |||||||
Line of Credit Facility [Line Items] | |||||||
Minimum ratio of outstanding debt to annualized recurring revenue | 0.6 |
Line of Credit and Credit Fac_4
Line of Credit and Credit Facility - Schedule of Long-term Debt (Details) - USD ($) $ in Thousands | Jan. 31, 2019 | Jan. 31, 2018 |
Debt Disclosure [Abstract] | ||
Principal | $ 102,494 | $ 50,201 |
Less: unamortized debt issuance costs | (5,249) | (3,869) |
Net carrying amount | $ 97,245 | $ 46,332 |
Commitments and Contingencies -
Commitments and Contingencies - Narrative (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Jan. 31, 2019 | Jan. 31, 2018 | Jan. 31, 2017 | |
Commitments and Contingencies Disclosure [Abstract] | |||
Rent expense under operating leases | $ 7.1 | $ 5.3 | $ 4.2 |
Other purchase commitment due in fiscal year ending January 31, 2020 | 10.7 | ||
Other purchase commitment due in fiscal year ending January 31, 2021 | $ 20 |
Commitments and Contingencies_2
Commitments and Contingencies - Future Minimum Lease Payments (Details) $ in Thousands | Jan. 31, 2019USD ($) |
Year Ending January 31: | |
2020 | $ 7,162 |
2021 | 3,258 |
2022 | 1,571 |
2023 | 1,113 |
2024 | 1,144 |
Thereafter | 4,799 |
Total payments | 19,047 |
2020 | (449) |
2021 | (706) |
2022 | (619) |
2023 | (338) |
2024 | 0 |
Thereafter | 0 |
Expected sublease income | (2,112) |
2020 | 6,713 |
2021 | 2,552 |
2022 | 952 |
2023 | 775 |
2024 | 1,144 |
Thereafter | 4,799 |
Total payments, net | $ 16,935 |
Stockholders' (Deficit) Equity
Stockholders' (Deficit) Equity - Narrative (Details) | Jul. 02, 2018shares | Jan. 31, 2019classvote$ / sharesshares | Apr. 30, 2018$ / sharesshares | Jan. 31, 2018shares | Dec. 31, 2017$ / sharesshares | Jan. 31, 2017shares | Jul. 31, 2016$ / sharesshares | Jan. 31, 2016shares | Nov. 30, 2011$ / sharesshares |
Class of Stock [Line Items] | |||||||||
Preferred stock authorized (shares) | 10,000,000 | 0 | |||||||
Preferred stock issued (shares) | 0 | 0 | |||||||
Number of classes of common stock | class | 2 | ||||||||
Preferred stock outstanding (shares) | 0 | 0 | |||||||
Warrants expiration period | 2 years 7 months 6 days | ||||||||
Class A Common Stock | |||||||||
Class of Stock [Line Items] | |||||||||
Number of votes each share is entitled to | vote | 40 | ||||||||
Shares to be issued upon conversion (shares) | 1 | ||||||||
Common stock authorized (shares) | 3,700,000 | 3,700,000 | |||||||
Common stock issued (shares) | 3,263,659 | 0 | |||||||
Convertible preferred stock converted into common stock (shares) | 3,263,659 | ||||||||
Stock outstanding (shares) | 3,263,659 | 0 | |||||||
Class B Common Stock | |||||||||
Class of Stock [Line Items] | |||||||||
Number of votes each share is entitled to | vote | 1 | ||||||||
Common stock authorized (shares) | 500,000,000 | 21,200,000 | |||||||
Common stock issued (shares) | 23,435,000 | 1,639,000 | |||||||
Convertible preferred stock converted into common stock (shares) | 10,835,278 | ||||||||
Stock outstanding (shares) | 23,434,542 | 1,638,648 | 1,531,237 | 1,417,691 | |||||
Class B Common Stock Warrants | |||||||||
Class of Stock [Line Items] | |||||||||
Number of shares that can be purchased (shares) | 125,000 | 66,664 | |||||||
Exercise price of warrants (in usd per share) | $ / shares | $ 17.8736 | $ 45 | |||||||
Credit Facility Maturing January 1, 2021 | Series D-2 convertible preferred stock warrants | |||||||||
Class of Stock [Line Items] | |||||||||
Number of shares that can be purchased (shares) | 28,462 | ||||||||
Exercise price of warrants (in usd per share) | $ / shares | $ 126.47 | ||||||||
Credit Facility Maturing January 1, 2021 | Class B Common Stock Warrants | |||||||||
Class of Stock [Line Items] | |||||||||
Number of shares that can be purchased (shares) | 66,664 | ||||||||
Exercise price of warrants (in usd per share) | $ / shares | $ 45 | ||||||||
Credit Facility Due July 18, 2018 | Class B Common Stock Warrants | |||||||||
Class of Stock [Line Items] | |||||||||
Number of shares that can be purchased (shares) | 3,333 | ||||||||
Exercise price of warrants (in usd per share) | $ / shares | $ 34.35 | ||||||||
Warrants expiration period | 10 years | ||||||||
November 2011 Loan | Class B Common Stock Warrants | |||||||||
Class of Stock [Line Items] | |||||||||
Number of shares that can be purchased (shares) | 3,729 | ||||||||
Warrant strike price (in usd per share) | $ / shares | $ 4.80 | ||||||||
Warrants expiration period | 10 years |
Equity Incentive Plans - Narrat
Equity Incentive Plans - Narrative (Details) $ / shares in Units, $ in Millions | Jun. 28, 2018USD ($) | Jan. 31, 2019USD ($)purchase_periodshares | Jan. 31, 2018USD ($)$ / sharesshares | Jan. 31, 2017USD ($)$ / sharesshares | Jun. 30, 2018shares |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Weighted average grant-date fair value (in usd per share) | $ / shares | $ 13.20 | $ 12.89 | |||
Options granted in period (shares) | 0 | 161,715 | 399,239 | ||
Options exercised | $ | $ 4.5 | $ 2.5 | $ 2.8 | ||
Options to purchase common stock | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Vesting period | 4 years | ||||
Term of award | P10Y | ||||
Compensation cost not yet recognized | $ | $ 1.8 | ||||
Recognition period for compensation cost not yet recognized | 1 year 1 month 28 days | ||||
Restricted stock units | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Recognition period for compensation cost not yet recognized | 2 years 1 month | ||||
Accelerated compensation cost recognized | $ | $ 6.6 | $ 6.6 | |||
Compensation cost not yet recognized | $ | $ 30.7 | ||||
2018 Equity Incentive Plan (2018 Plan) | Common Class A and Common Class B | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Percentage of outstanding shares (percent) | 5.00% | ||||
2018 Equity Incentive Plan (2018 Plan) | Class B Common Stock | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Common stock reserved for future issuance (shares) | 4,466,868 | 5,238,423 | |||
Additional shares authorized (shares) | 3,500,000 | ||||
Employee Stock Purchase Plan | ESPP | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Duration of overlapping offering periods | 24 months | ||||
Number of purchase periods in each offering period | purchase_period | 4 | ||||
Duration of purchase periods | 6 months | ||||
Duration of first purchase period in first offering period | 9 months | ||||
Share purchase price as percentage of fair value of common stock (percent) | 15.00% | ||||
Maximum annual contributions via payroll deductions (shares) | 2,000 | ||||
Percentage of eligible compensation (percent) | 85.00% | ||||
Number of shares available for grant (shares) | 833,512 | ||||
Recognition period for compensation cost not yet recognized | 1 year 8 months | ||||
Compensation cost not yet recognized | $ | $ 4.1 | ||||
Shares purchased (shares) | 0 | ||||
Employee Stock Purchase Plan | Common Class A and Common Class B | ESPP | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Percentage of outstanding shares (percent) | 1.50% | ||||
Employee Stock Purchase Plan | Class B Common Stock | ESPP | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Common stock reserved for future issuance (shares) | 1,047,684 | ||||
Additional shares authorized (shares) | 1,050,000 | ||||
Minimum | Restricted stock units | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Service condition satisfaction period | 3 years | ||||
Maximum | Restricted stock units | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Service condition satisfaction period | 4 years | ||||
Cliff vesting in one or two years and quarterly vesting afterwards | Minimum | Restricted stock units | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Vesting period | 1 year | ||||
Cliff vesting in one or two years and quarterly vesting afterwards | Maximum | Restricted stock units | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Vesting period | 2 years | ||||
Two-year vesting schedule | Restricted stock units | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Vesting period | 2 years | ||||
Vesting at twelve months | Restricted stock units | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Portion of RSUs vesting at twelve, eighteen and twenty-four months (percent) | 33.33% | ||||
Vesting at eighteen months | Restricted stock units | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Portion of RSUs vesting at twelve, eighteen and twenty-four months (percent) | 33.33% | ||||
Vesting at twenty-four months | Restricted stock units | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Portion of RSUs vesting at twelve, eighteen and twenty-four months (percent) | 33.33% |
Equity Incentive Plans - Recogn
Equity Incentive Plans - Recognized Stock-based Compensation Expense (Details) - 2011 Equity Incentive Plan (the Plan) - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 31, 2019 | Jan. 31, 2018 | Jan. 31, 2017 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Stock-based compensation expense | $ 21,801 | $ 9,370 | $ 9,343 |
Sales and marketing | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Stock-based compensation expense | 7,387 | 1,845 | 1,930 |
Research and development | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Stock-based compensation expense | 6,519 | 2,311 | 2,206 |
General and administrative | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Stock-based compensation expense | 7,492 | 5,090 | 5,099 |
Interest expense | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Stock-based compensation expense | 30 | 36 | 17 |
Subscription | Cost of revenue | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Stock-based compensation expense | 219 | 48 | 46 |
Professional services and other | Cost of revenue | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Stock-based compensation expense | $ 154 | $ 40 | $ 45 |
Equity Incentive Plans - Assump
Equity Incentive Plans - Assumptions Used to Calculate the Grant-date Fair Value (Details) - $ / shares | 12 Months Ended | ||
Jan. 31, 2019 | Jan. 31, 2018 | Jan. 31, 2017 | |
Options | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Expected stock price volatility | 47.00% | 48.00% | |
Expected term | 6 years | 6 years | |
Risk-free interest rate | 1.83% | ||
Expected dividend yield | 0.00% | 0.00% | |
Fair value of common stock (in usd per share) | $ 28.20 | $ 27.60 | |
Minimum | Options | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Risk-free interest rate | 1.28% | ||
Minimum | ESPP | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Expected stock price volatility | 31.00% | ||
Expected term | 9 months | ||
Risk-free interest rate | 2.22% | ||
Expected dividend yield | 0.00% | ||
Maximum | Options | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Risk-free interest rate | 1.42% | ||
Maximum | ESPP | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Expected stock price volatility | 36.00% | ||
Expected term | 2 years 3 months | ||
Risk-free interest rate | 2.54% | ||
Expected dividend yield | 0.00% |
Equity Incentive Plans - Outsta
Equity Incentive Plans - Outstanding Common Stock Options and Related Activity (Details) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | |||
Jan. 31, 2019 | Jan. 31, 2018 | Jan. 31, 2017 | Jan. 31, 2016 | |
Shares Subject to Outstanding Options | ||||
Beginning balance of options outstanding (shares) | 2,465,242 | 2,542,025 | 2,312,633 | |
Granted (shares) | 0 | 161,715 | 399,239 | |
Exercised (shares) | (367,991) | (111,688) | (113,546) | |
Forfeited (shares) | (101,782) | (102,828) | (45,702) | |
Expired (shares) | (139,130) | (23,982) | (10,599) | |
Ending balance of options outstanding (shares) | 1,856,339 | 2,465,242 | 2,542,025 | 2,312,633 |
Options vested and exercisable, outstanding (shares) | 1,709,661 | |||
Weighted- Average Exercise Price per Share | ||||
Options outstanding, weighted average exercise price (in usd per share) | $ 21.90 | $ 21.72 | $ 20.20 | |
Options granted, weighted average exercise price (in usd per share) | 28.20 | 27.60 | ||
Options exercised, weighted average exercise price (in usd per share) | 6.09 | 12 | 6.58 | |
Options forfeited, weighted average exercise price (in usd per share) | 30.69 | 35.79 | 33.64 | |
Options expired, weighted average exercise price (in usd per share) | 34.06 | 31.63 | 22.21 | |
Options outstanding, weighted average exercise price (in usd per share) | 23.64 | $ 21.90 | $ 21.72 | $ 20.20 |
Options vested and exercisable, weighted average exercise price (in usd per share) | $ 23.20 | |||
Additional disclosures | ||||
Options outstanding, weighted average remaining contractual term | 5 years 7 months | 6 years 4 months 24 days | 7 years 4 months | 8 years |
Options vested and exercisable, weighted average remaining contractual term | 5 years 5 months | |||
Options outstanding, aggregate intrinsic value | $ 8,443 | $ 12,185 | $ 19,377 | $ 59,509 |
Options vested and exercisable, aggregate intrinsic value | $ 8,443 |
Equity Incentive Plans - Outs_2
Equity Incentive Plans - Outstanding RSUs and Related Activity (Details) - Restricted stock units - $ / shares | 12 Months Ended | ||
Jan. 31, 2019 | Jan. 31, 2018 | Jan. 31, 2017 | |
Number of Shares | |||
Outstanding as of beginning of period (shares) | 1,001,226 | 33,666 | 0 |
Granted (shares) | 1,743,393 | 988,601 | 33,666 |
Vested (shares) | (12,625) | ||
Canceled (shares) | (403,872) | (21,041) | |
Outstanding as of end of period (shares) | 2,328,122 | 1,001,226 | 33,666 |
Weighted- Average Grant Date Fair Value | |||
Outstanding as of begnning of period (in usd per share) | $ 23.40 | $ 27.60 | $ 0 |
Granted (in usd per share) | 18.06 | 23.40 | 27.60 |
Vested (in usd per share) | 27.60 | ||
Canceled (in usd per share) | 21.29 | 27.60 | |
Outstanding as of end of period (in usd per share) | $ 19.77 | $ 23.40 | $ 27.60 |
Income Taxes - Narrative (Detai
Income Taxes - Narrative (Details) - USD ($) | 2 Months Ended | 12 Months Ended | ||
Jan. 31, 2018 | Jan. 31, 2019 | Jan. 31, 2018 | Jan. 31, 2017 | |
Income Tax Contingency [Line Items] | ||||
Income tax expense | $ 1,248,000 | $ 385,000 | $ 773,000 | |
Statutory tax rate (percent) | 21.00% | 33.00% | 34.00% | |
Reduction in deferred tax asset and corresponding change in valuation allowance | $ 85,700,000 | |||
One-time deemed income inclusion | 700,000 | |||
Unrecognized tax benefits that, if recognized, would impact the effective tax rate | $ 0 | $ 0 | ||
Income taxes paid | $ 822,000 | $ 499,000 | $ 212,000 | |
Minimum | ||||
Income Tax Contingency [Line Items] | ||||
Statutory tax rate (percent) | 15.00% | |||
Maximum | ||||
Income Tax Contingency [Line Items] | ||||
Statutory tax rate (percent) | 35.00% | |||
State | ||||
Income Tax Contingency [Line Items] | ||||
NOLs available to offset future taxable income | 1,048,500,000 | |||
Foreign | ||||
Income Tax Contingency [Line Items] | ||||
Tax credits available to offset future taxable income | 400,000 | |||
Internal Revenue Service (IRS) | Federal | ||||
Income Tax Contingency [Line Items] | ||||
NOLs available to offset future taxable income | 815,100,000 | |||
Research and Development Tax Credit | State | ||||
Income Tax Contingency [Line Items] | ||||
Tax credits available to offset future taxable income | 6,000,000 | |||
Research and Development Tax Credit | Internal Revenue Service (IRS) | Federal | ||||
Income Tax Contingency [Line Items] | ||||
Tax credits available to offset future taxable income | $ 12,200,000 |
Income Taxes - Components of In
Income Taxes - Components of Income Tax Provision (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 31, 2019 | Jan. 31, 2018 | Jan. 31, 2017 | |
Current income provision: | |||
Federal | $ 0 | $ 0 | $ 0 |
State | 9 | 3 | 89 |
Foreign | 1,137 | 233 | 443 |
Current income provision | 1,146 | 236 | 532 |
Deferred income tax provision: | |||
Federal | (125) | (32) | 45 |
State | (39) | 12 | 8 |
Foreign | 266 | 169 | 188 |
Deferred income tax provision | 102 | 149 | 241 |
Provision for income taxes | $ 1,248 | $ 385 | $ 773 |
Income Taxes - Effective Income
Income Taxes - Effective Income Tax Rate Reconciliation (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 31, 2019 | Jan. 31, 2018 | Jan. 31, 2017 | |
Income Tax Disclosure [Abstract] | |||
Tax benefit at U.S. federal statutory rate | $ (32,143) | $ (57,992) | $ (61,998) |
State income taxes, net of federal tax benefit | (10,114) | (11,679) | (10,841) |
Non-deductible expenses | 997 | 1,095 | 1,522 |
Foreign taxes | 697 | 48 | 37 |
Stock-based compensation | 1,469 | 896 | 1,081 |
Research and development credits | (2,618) | (2,516) | (1,784) |
Change in valuation allowance | 42,975 | (15,199) | 72,769 |
Deferred tax effect of Tax Act rate change | 0 | 85,725 | 0 |
Other | (15) | 7 | (13) |
Provision for income taxes | $ 1,248 | $ 385 | $ 773 |
Income Taxes - Deferred Tax Ass
Income Taxes - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands | Jan. 31, 2019 | Jan. 31, 2018 |
Components of Deferred Tax Assets [Abstract] | ||
Net operating loss carryforwards | $ 223,765 | $ 186,299 |
Stock based compensation | 9,784 | 6,892 |
Accruals and other reserves | 4,222 | 5,821 |
Research and development credit carryforwards | 12,729 | 9,615 |
Other | 5,229 | 1,871 |
Gross deferred tax assets | 255,729 | 210,498 |
Valuation allowance | (246,679) | (203,704) |
Total deferred tax assets, net of valuation allowance | 9,050 | 6,794 |
Components of Deferred Tax Liabilities [Abstract] | ||
Contract acquisition costs | (6,987) | (5,132) |
Capitalized software | (2,581) | (1,929) |
Basis difference in intangible assets | (297) | (471) |
Total deferred tax liabilities | (9,865) | (7,532) |
Net deferred tax liabilities | $ (815) | $ (738) |
Income Taxes - Aggregate Change
Income Taxes - Aggregate Changes in Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 31, 2019 | Jan. 31, 2018 | Jan. 31, 2017 | |
Reconciliation of Unrecognized Tax Benefits [Roll Forward] | |||
Beginning balance | $ 3,637 | $ 2,737 | $ 2,055 |
(Decrease) increase in unrecognized tax benefits taken in prior years | (27) | ||
(Decrease) increase in unrecognized tax benefits taken in prior years | 872 | 675 | |
Increase in unrecognized tax benefits related to current year | 49 | 225 | 709 |
Ending balance | $ 4,558 | $ 3,637 | $ 2,737 |
Net Loss Per Share - Computatio
Net Loss Per Share - Computation of Net Loss Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 12 Months Ended | ||
Jan. 31, 2019 | Jan. 31, 2018 | Jan. 31, 2017 | |
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items] | |||
Net loss | $ (154,309) | $ (176,562) | $ (183,120) |
Weighted-average number of shares used in computing net loss per share, basic and diluted (shares) | 16,358 | 1,595 | 1,466 |
Net loss per share, basic and diluted (in usd per share) | $ (9.43) | $ (110.70) | $ (124.90) |
Class A Common Stock | |||
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items] | |||
Net loss | $ (18,305) | $ 0 | $ 0 |
Weighted-average number of shares used in computing net loss per share, basic and diluted (shares) | 1,941 | 0 | 0 |
Net loss per share, basic and diluted (in usd per share) | $ (9.43) | $ 0 | $ 0 |
Class B Common Stock | |||
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items] | |||
Net loss | $ (136,004) | $ (176,562) | $ (183,120) |
Weighted-average number of shares used in computing net loss per share, basic and diluted (shares) | 14,417 | 1,595 | 1,466 |
Net loss per share, basic and diluted (in usd per share) | $ (9.43) | $ (110.70) | $ (124.90) |
Net Loss Per Share - Antidiluti
Net Loss Per Share - Antidilutive Securities Excluded from Computation of Net Loss Per Share (Details) - shares | 12 Months Ended | ||
Jan. 31, 2019 | Jan. 31, 2018 | Jan. 31, 2017 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Potentially dilutive securities that were not included in the diluted net loss per share calculations (shares) | 6,501,933 | 14,495,557 | 13,968,156 |
Convertible preferred stock on an if-converted basis | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Potentially dilutive securities that were not included in the diluted net loss per share calculations (shares) | 5,716,829 | 13,938,953 | 13,288,510 |
Options to purchase common stock | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Potentially dilutive securities that were not included in the diluted net loss per share calculations (shares) | 469,936 | 553,581 | 676,467 |
Restricted stock units | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Potentially dilutive securities that were not included in the diluted net loss per share calculations (shares) | 310,811 | 0 | 0 |
Common stock warrants | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Potentially dilutive securities that were not included in the diluted net loss per share calculations (shares) | 4,357 | 3,023 | 3,179 |
Employee Benefit Plan (Details)
Employee Benefit Plan (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Jan. 31, 2019 | Jan. 31, 2018 | Jan. 31, 2017 | |
Postemployment Benefits [Abstract] | |||
Maximum employee contribution as percentage of pre-tax salary (percent) | 50.00% | ||
Employees' participation eligibility period | 30 days | ||
Company's contribution expenses | $ 3.4 | $ 3.2 | $ 2.9 |
Related Party Transactions (Det
Related Party Transactions (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Jan. 31, 2019 | Jan. 31, 2018 | Jan. 31, 2017 | |
Vendors of the company | |||
Related Party Transaction [Line Items] | |||
Due from related party | $ 0.6 | $ 0.6 | |
Revenue from related party | 1.9 | 1.6 | $ 0.8 |
Expenses recognized from transactions with related party | 0.7 | 0.8 | 1.2 |
Executive officer of the company | |||
Related Party Transaction [Line Items] | |||
Expenses recognized from transactions with related party | $ 0.3 | $ 0.7 | $ 0.9 |