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SPT Sprout Social

Cover Page

Cover Page - shares9 Months Ended
Sep. 30, 2020Oct. 31, 2020
Document Information [Line Items]
Document Type10-Q
Document Quarterly Reporttrue
Document Period End DateSep. 30,
2020
Document Transition Reportfalse
Entity File Number001-39156
Entity Registrant NameSPROUT SOCIAL, INC.
Entity Incorporation, State or Country CodeDE
Entity Tax Identification Number27-2404165
Entity Address, Address Line One131 South Dearborn St.
Entity Address, Address Line TwoSuite 700
Entity Address, City or TownChicago
Entity Address, State or ProvinceIL
Entity Address, Postal Zip Code60603
City Area Code(866)
Local Phone Number878-3231
Title of 12(b) SecurityClass A Common Stock, $0.0001 par value per share
Trading SymbolSPT
Security Exchange NameNASDAQ
Entity Current Reporting StatusYes
Entity Interactive Data CurrentYes
Entity Filer CategoryNon-accelerated Filer
Entity Small Businessfalse
Entity Emerging Growth Companytrue
Entity Ex Transition Periodfalse
Entity Shell Companyfalse
Entity Central Index Key0001517375
Current Fiscal Year End Date--12-31
Document Fiscal Year Focus2020
Document Fiscal Period FocusQ3
Amendment Flagfalse
Class A common stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding43,440,204
Class B common stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding9,494,249

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in ThousandsSep. 30, 2020Dec. 31, 2019
Current assets
Cash and cash equivalents $ 117,778 $ 135,310
Marketable securities49,494 0
Accounts receivable, net of allowances of $1,687 and $706 at September 30, 2020 and December 31, 2019, respectively14,406 11,099
Deferred commissions7,456 5,574
Prepaid expenses and other assets4,565 5,050
Total current assets193,699 157,033
Property and equipment, net14,243 13,529
Deferred commissions, net of current portion7,199 5,505
Operating lease, right-of-use assets10,274 5,618
Goodwill2,299 2,299
Intangible assets, net4,413 5,482
Other assets, net125 125
Total assets232,252 189,591
Current liabilities
Accounts payable2,037 2,049
Deferred revenue37,258 29,566
Operating lease liabilities1,904 2,331
Accrued wages and payroll related benefits4,900 4,053
Accrued expenses and other5,555 5,057
Total current liabilities51,654 43,056
Deferred revenue, net of current portion239 209
Operating lease liabilities, net of current portion23,744 18,196
Total liabilities75,637 61,461
Commitments and contingencies (Note 6)
Stockholders’ equity
Additional paid-in capital324,682 263,943
Treasury stock, at cost(26,905)(20,430)
Accumulated deficit(141,167)(115,388)
Total stockholders’ equity156,615 128,130
Total liabilities and stockholders’ equity232,252 189,591
Class A common stock
Stockholders’ equity
Common stock4 4
Class B common stock
Stockholders’ equity
Common stock $ 1 $ 1

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in ThousandsSep. 30, 2020Dec. 31, 2019
Allowance for doubtful accounts $ 1,687 $ 706
Class A common stock
Common stock, par value (in dollars per share) $ 0.0001 $ 0.0001
Common stock, shares authorized1,000,000,000 1,000,000,000
Common stock, shares issued46,122,094 41,714,870
Common stock, shares outstanding43,322,590 39,041,065
Class B common stock
Common stock, par value (in dollars per share) $ 0.0001 $ 0.0001
Common stock, shares authorized25,000,000 25,000,000
Common stock, shares issued9,721,627 9,803,933
Common stock, shares outstanding9,568,249 9,803,933

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($) $ in Thousands3 Months Ended9 Months Ended
Sep. 30, 2020Sep. 30, 2019Sep. 30, 2020Sep. 30, 2019
Revenue
Total revenue $ 33,666 $ 26,421 $ 95,603 $ 74,563
Cost of revenue
Total cost of revenue8,774 7,229 25,302 19,288
Gross profit24,892 19,192 70,301 55,275
Operating expenses
Research and development7,693 6,361 22,686 19,137
Sales and marketing14,774 11,894 42,852 34,074
General and administrative9,346 6,056 30,970 23,417
Total operating expenses31,813 24,311 96,508 76,628
Loss from operations(6,921)(5,119)(26,207)(21,353)
Interest expense(94)(70)(285)(199)
Interest income50 61 563 256
Other income19 108 222 388
Loss before income taxes(6,946)(5,020)(25,707)(20,908)
Income tax expense51 19 72 49
Net loss(6,997)(5,039)(25,779)(20,957)
Comprehensive loss $ (6,997) $ (5,039) $ (25,779) $ (20,957)
Net loss per share attributable to common shareholders, basic and diluted (in dollars per share) $ (0.13) $ (0.30) $ (0.51) $ (1.25)
Weighted-average shares outstanding used to compute net loss per share, basic and diluted (in shares)51,910,517 16,948,809 50,777,222 16,829,622
Subscription
Revenue
Total revenue $ 33,370 $ 26,284 $ 94,889 $ 74,285
Cost of revenue
Total cost of revenue8,588 7,144 24,852 19,113
Professional services and other
Revenue
Total revenue296 137 714 278
Cost of revenue
Total cost of revenue $ 186 $ 85 $ 450 $ 175

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Convertible Preferred Stock and Stockholders’ Equity (Unaudited) - USD ($) $ in ThousandsTotalOver-Allotment OptionFollow-On Public OfferingVoting Common StockVoting Common StockOver-Allotment OptionVoting Common StockFollow-On Public OfferingAdditional Paid-in CapitalAdditional Paid-in CapitalOver-Allotment OptionAdditional Paid-in CapitalFollow-On Public OfferingSeries A, A-1, B, B-1, C and D Convertible Preferred Stock (in equity)Treasury StockAccumulated Deficit
Beginning balance (in shares) at Dec. 31, 201816,679,109 22,014,263 1,973,851
Beginning balance at Dec. 31, 2018 $ 25,733 $ 1 $ 1,844 $ 102,976 $ (10,507) $ (68,581)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of stock options (in shares)125,342
Exercise of stock options62 62
Stock-based compensation expense5,363 5,363
Net issuance of RSA grant (in shares)242,155 192,281
Net issuance of RSA grant(2,345) $ (2,345)
Net loss(20,957)(20,957)
Ending balance (in shares) at Sep. 30, 201917,046,606 22,014,263 2,166,132
Ending balance at Sep. 30, 20197,856 $ 1 7,269 $ 102,976 $ (12,852)(89,538)
Beginning balance (in shares) at Jun. 30, 201917,016,607 22,014,263 2,166,132
Beginning balance at Jun. 30, 201912,813 $ 1 7,187 $ 102,976 $ (12,852)(84,499)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of stock options (in shares)29,999
Exercise of stock options17 17
Stock-based compensation expense65 65
Net loss(5,039)(5,039)
Ending balance (in shares) at Sep. 30, 201917,046,606 22,014,263 2,166,132
Ending balance at Sep. 30, 20197,856 $ 1 7,269 $ 102,976 $ (12,852)(89,538)
Beginning balance (in shares) at Dec. 31, 201948,844,998 2,673,805
Beginning balance at Dec. 31, 2019128,130 $ 5 263,943 $ (20,430)(115,388)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of stock options (in shares)950,167
Exercise of stock options362 362
Stock-based compensation expense8,563 8,563
Issuance of common stock from equity award settlement (in shares)826,611
Issuance of common stock from equity award settlement0
Taxes paid related to net share settlement of equity awards (in shares)270,732
Taxes paid related to net share settlement of equity awards(6,335) $ (6,335)
Issuance of common stock, net of underwriters' discounts, commissions and offering costs (in shares)629,603 1,612,500
Issuance of common stock, net of underwriters' discounts, commissions and offering costs $ 9,738 $ 41,936 $ 9,738 $ 41,936
Exercise of warrants (in shares)26,960 8,345
Exercise of warrants0 140 $ (140)
Net loss(25,779)(25,779)
Ending balance (in shares) at Sep. 30, 202052,890,839 2,952,882
Ending balance at Sep. 30, 2020156,615 $ 5 324,682 $ (26,905)(141,167)
Beginning balance (in shares) at Jun. 30, 202050,889,557 2,952,882
Beginning balance at Jun. 30, 2020119,034 $ 5 280,104 $ (26,905)(134,170)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of stock options (in shares)242,081
Exercise of stock options82 82
Stock-based compensation expense2,560 2,560
Issuance of common stock from equity award settlement (in shares)146,701
Issuance of common stock from equity award settlement0
Issuance of common stock, net of underwriters' discounts, commissions and offering costs (in shares)1,612,500
Issuance of common stock, net of underwriters' discounts, commissions and offering costs $ 41,936 $ 41,936
Net loss(6,997)(6,997)
Ending balance (in shares) at Sep. 30, 202052,890,839 2,952,882
Ending balance at Sep. 30, 2020 $ 156,615 $ 5 $ 324,682 $ (26,905) $ (141,167)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands9 Months Ended
Sep. 30, 2020Sep. 30, 2019
Cash flows from operating activities
Net loss $ (25,779) $ (20,957)
Adjustments to reconcile net loss to net cash (used in) operating activities
Depreciation of property and equipment2,120 2,031
Amortization of line of credit issuance costs171 149
Amortization of premium on investments228 0
Amortization of acquired intangible assets1,070 1,156
Amortization of deferred commissions5,412 3,380
Amortization of right-of-use operating lease asset911 811
Stock-based compensation expense8,563 5,363
Provision for accounts receivable allowances1,882 1,175
Changes in operating assets and liabilities
Accounts receivable(5,190)(912)
Prepaid expenses and other current assets339 (840)
Deferred commissions(8,988)(4,922)
Accounts payable and accrued expenses713 (333)
Deferred revenue7,721 5,097
Lease liabilities(351)(910)
Net cash (used in) operating activities(11,178)(9,712)
Cash flows from investing activities
Purchases of property and equipment(2,216)(544)
Purchases of marketable securities(49,722)0
Net cash (used in) investing activities(51,938)(544)
Cash flows from financing activities
Proceeds from underwriters' purchase of over-allotment shares, related to the Company's initial public offering, net of underwriters’ discounts and commissions9,954 0
Proceeds from follow-on offering of common stock, net of underwriters' discounts and commissions42,127 0
Payments for line of credit issuance costs(118)(47)
Proceeds from exercise of stock options362 62
Employee taxes paid related to the net share settlement of stock-based awards(6,335)(1,798)
Payments of deferred offering costs(406)(1,551)
Net cash provided by (used in) financing activities45,584 (3,334)
Net (decrease) in cash and cash equivalents(17,532)(13,590)
Cash and cash equivalents
Beginning of period135,310 26,190
End of period117,778 12,600
Supplemental noncash disclosures
Operating lease liability arising from operating ROU asset obtained5,472 0
Noncash exercise of stock warrants140 0
Deferred offering costs, accrued but not yet paid0 1,123
Employee taxes related to the net share settlement of stock-based awards, accrued but not yet paid0 547
Balance of property and equipment in accounts payable $ 765 $ 0

Nature of Operations and Summar

Nature of Operations and Summary of Significant Accounting Policies9 Months Ended
Sep. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Operations and Summary of Significant Accounting PoliciesNature of Operations and Summary of Significant Accounting Policies Nature of Operations Sprout Social, Inc. (“Sprout Social” or the “Company”), a Delaware corporation, began operating on April 21, 2010 to design, develop and operate a web-based comprehensive social media management tool enabling companies to manage and measure their online presence. Customers access their accounts online via a web-based interface or a mobile application. Some customers also purchase the Company’s professional services, which primarily consist of consulting and training services. The Company’s fiscal year end is December 31. The Company’s customers are primarily located throughout the United States, and a portion of customers are located in foreign countries. The Company is headquartered in Chicago, Illinois. Follow-on Offering On August 17, 2020, the Company completed an equity offering in which it issued and sold 1,612,500 shares of Class A common stock, inclusive of the exercised over-allotment option, at a public offering price of $27.50 per share. In addition, 5,287,500 shares of the Company’s common stock were sold by selling shareholders of the Company, inclusive of the over-allotment, as part of this offering. The Company received net proceeds of $42.1 million after deducting underwriting discounts and commissions. The Company did not receive any proceeds from the sale of common stock by selling shareholders. Initial Public Offering Over-allotment On January 15, 2020, the Company issued and sold 629,603 shares of Class A common stock for total net proceeds of $10.0 million after deducting underwriting discounts and commissions, as a result of the over-allotment option exercise by the underwriters of the Company’s initial public offering. Principles of Consolidation and Basis of Presentation The unaudited condensed consolidated financial statements and accompanying notes were prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and the applicable regulations of the United States Securities and Exchange Commission (“SEC”) regarding interim financial reporting. The Company has prepared the unaudited condensed consolidated financial statements on a basis substantially consistent with the audited consolidated financial statements of the Company as of and for the year ended December 31, 2019, and these unaudited condensed consolidated financial statements include all normal recurring adjustments necessary for a fair statement of the results of the interim periods presented but are not necessarily indicative of the results of operations to be anticipated for the full year or any future period. The consolidated balance sheet as of December 31, 2019 included herein was derived from the audited consolidated financial statements as of that date but does not include all disclosures including certain disclosures required by GAAP on an annual basis. The unaudited condensed consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All significant intercompany transactions and balances have been eliminated in consolidation. The unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2019, filed with the SEC on February 28, 2020. Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates, judgments and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. The Company bases its estimates on historical experience and on other assumptions that its management believes are reasonable under the circumstances, including but not limited to the potential impacts arising from the COVID-19 pandemic. As the extent and duration of the impact of the COVID-19 pandemic remains uncertain, the Company’s estimates and judgments may evolve as conditions change. The Company is not aware of any events or circumstances that would require an update to its estimates and judgments or a revision of the carrying value of its assets or liabilities as of November 10, 2020, the date of issuance of this Quarterly Report on Form 10-Q. Actual results could differ from those estimates. The Company’s most significant estimates and judgments are those related to the estimated period of benefit for incremental costs of obtaining a contract with a customer, the incremental borrowing rate for operating leases, calculation of allowance for doubtful accounts, useful lives of long-lived assets, stock-based compensation, income taxes, commitments and contingencies and litigation, among others. Summary of Significant Accounting Policies The Company’s significant accounting policies are discussed in Note 1, “Nature of Operations and Summary of Significant Accounting Policies” in the Notes to Consolidated Financial Statements as of and for the year ended December 31, 2019 included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2019, filed with the SEC on February 28, 2020. There have been no significant changes to these policies during the nine months ended September 30, 2020, except as noted below. Marketable Securities Marketable securities consist of corporate bonds, commercial paper, and U.S. Treasury securities. The Company classifies marketable securities as available-for-sale at the time of purchase and reevaluates such classification as of each balance sheet date. All marketable securities are recorded at their estimated fair values. Unrealized gains and losses for the available-for-sale debt securities that are unrelated to credit loss factors are recorded in accumulated other comprehensive income (loss), or AOCI. As of September 30, 2020 and December 31, 2019, the Company’s AOCI balance was insignificant. Unrealized losses determined to be credit-related are recorded as Other income in the consolidated statements of operations and comprehensive loss and as an allowance for credit losses on Marketable securities on the consolidated balance sheet. As of September 30, 2020, the gross unrealized loss on available-for-sale debt securities was immaterial and there were no expected credit losses related to the Company's available-for-sale debt securities. Recently Adopted Accounting Pronouncements In June 2016, the FASB issued ASU 2016-13, including subsequent amendments, Measurement of Credit Losses on Financial Instruments (Topic 326) (“ASU 2016-13”), which modifies the accounting methodology for most financial instruments by establishing a new “expected loss model” that requires entities to estimate current expected credit losses on financial instruments, including trade accounts receivable, by using all practical and relevant information. This guidance is effective for interim and annual periods beginning after December 15, 2019. The Company adopted the ASU as of January 1, 2020, and the adoption did not have a material impact on the Company’s condensed consolidated financial statements. In August 2018, the FASB issued ASU 2018-15, Intangibles - Goodwill and Other-Internal-Use Software

Revenue Recognition

Revenue Recognition9 Months Ended
Sep. 30, 2020
Revenue from Contract with Customer [Abstract]
Revenue RecognitionRevenue Recognition Disaggregation of Revenue The Company provides disaggregation of revenue based on geographic region in Note 7 and based on the subscription versus professional services and other classification on the condensed consolidated statements of operations and comprehensive loss, as it believes these best depict how the nature, amount, timing and uncertainty of revenue and cash flows are affected by economic factors. Deferred Revenue Deferred revenue is recorded upon establishment of unconditional right to payment under non-cancelable contracts and is recognized as the revenue recognition criteria are met. The Company generally invoices customers in advance in monthly, quarterly, semi-annual and annual installments. The deferred revenue balance is influenced by several factors, including the compounding effects of renewals, invoice duration, timing and size. The amount of revenue recognized during the three months ended September 30, 2020 and 2019 that was included in deferred revenue at the beginning of each period was $17.5 million and $11.3 million, respectively. The amount of revenue recognized during the nine months ended September 30, 2020 and 2019 that was included in deferred revenue at the beginning of each period was $27.0 million and $19.7 million, respectively.

Operating Leases

Operating Leases9 Months Ended
Sep. 30, 2020
Leases [Abstract]
Operating LeasesOperating Leases The Company entered into operating lease agreements for offices in Chicago, Illinois, San Francisco, California, and Seattle, Washington. The operating leases require escalating monthly rental payments ranging from $17,000 to $280,000. Under the terms of the lease agreements, the Company is also responsible for its proportionate share of taxes and operating costs, which are treated as variable lease costs. The Chicago lease expires in January 2028 and the Seattle lease expired in July 2020. The San Francisco lease expired in June 2019. The Company’s operating leases typically contain options to extend or terminate the term of the lease. The Company currently does not include any options to extend leases in its lease terms as it is not reasonably certain to exercise them. As such, it has recorded lease obligations only through the initial optional termination dates above. On January 21, 2020, the Company entered into a new lease agreement for an office in Seattle, Washington with an expected total future commitment of $7.9 million. The lease commenced in September 2020 and is expected to expire in January 2031. For accounting purposes under ASC 842, the lease commenced on January 23, 2020, resulting in the recording of a $5.4 million right-of-use operating lease asset and operating lease liability. The following table provides a summary of operating lease assets and liabilities as of September 30, 2020 (in thousands): Assets Operating lease right-of-use assets $ 10,274 Liabilities Operating lease liabilities 1,904 Operating lease liabilities, non-current 23,744 Total operating lease liabilities $ 25,648 The following table provides information about leases on the condensed consolidated statements of operations and comprehensive loss (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Operating lease expense $ 580 $ 541 $ 1,987 $ 1,743 Variable lease expense 875 926 2,457 2,607 Sublease income 20 108 223 388 Within the condensed consolidated statements of operations and comprehensive loss, operating and variable lease expense are recorded in General and administrative expenses and sublease income is recorded in Other income. Cash payments related to operating leases for the nine months ended September 30, 2020 and September 30, 2019 were $3.5 million and $4.0 million, respectively. As of September 30, 2020, the weighted-average remaining lease term is 8.2 years and the weighted-average discount rate is 5.6%. Remaining maturities of operating lease liabilities as of September 30, 2020 are as follows (in thousands): Years ending December 31, 2020 $ 729 2021 3,768 2022 3,930 2023 4,021 2024 4,112 Thereafter 16,498 Total future minimum lease payments $ 33,058 Less: imputed interest (6,670) Less: lease incentives (1) (740) Total operating lease liabilities $ 25,648 _________________ (1) Includes lease incentives that will be realized in 2020.

Income Taxes

Income Taxes9 Months Ended
Sep. 30, 2020
Income Tax Disclosure [Abstract]
Income TaxesIncome Taxes The provision for income taxes for interim periods is generally determined using an estimate of the Company’s annual effective tax rate, excluding jurisdictions for which no tax benefit can be recognized due to valuation allowances. The Company’s effective tax rate generally differs from the U.S. federal statutory rate primarily due to a valuation allowance related to the Company’s federal and state deferred tax assets. The Company accounts for Global Intangible Low–Taxed Income (“GILTI”) as a current-period expense when incurred. Therefore, the Company has not recorded deferred taxes for basis differences expected to reverse in the future periods. There has historically been no federal or state provision for income taxes because the Company has historically incurred operating losses and maintains a full valuation allowance against its net deferred tax assets. For the nine months ended September 30, 2020, the Company recognized an immaterial provision related to foreign income taxes.

Incentive Stock Plan

Incentive Stock Plan9 Months Ended
Sep. 30, 2020
Share-based Payment Arrangement [Abstract]
Incentive Stock PlanIncentive Stock Plan Stock-based compensation expense is included in the unaudited condensed consolidated statements of operations and comprehensive loss as follows: Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 (in thousands) Cost of revenue $ 153 $ — $ 617 $ — Research and development 509 — 1,443 — Sales and marketing 667 — 1,833 — General and administrative 1,231 65 4,670 5,363 Total stock-based compensation $ 2,560 $ 65 $ 8,563 $ 5,363

Commitments and Contingencies

Commitments and Contingencies9 Months Ended
Sep. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments and ContingenciesCommitments and Contingencies Contractual Obligations The Company has non-cancellable minimum guaranteed purchase commitments for data and services. Contractual commitments as of September 30, 2020 are as follows (in thousands): Years ending December 31, 2020 $ 3,393 2021 20,486 2022 27,495 2023 15,222 2024 — Thereafter — Total contract commitments $ 66,596 Legal Matters From time to time in the normal course of business, the Company may be subject to various legal matters such as threatened or pending claims or proceedings. There were no material such matters as of and for the period ended September 30, 2020. Indemnification In the ordinary course of business, the Company often includes standard indemnification provisions in its arrangements with third parties, including vendors, customers, investors and the Company’s directors and officers. Pursuant to these provisions, the Company may be obligated to indemnify such parties for losses or claims suffered or incurred. It is not possible to determine the maximum potential loss under these indemnification provisions due to the Company’s limited history of prior indemnification claims and the unique facts and circumstances involved in each particular provision. There were no material obligations under such indemnification agreements as of and for the period ended September 30, 2020.

Segment and Geographic Data

Segment and Geographic Data9 Months Ended
Sep. 30, 2020
Segment Reporting [Abstract]
Segment and Geographic DataSegment and Geographic Data The Company operates as one operating segment. The Company’s chief operating decision maker (“CODM”) is its chief executive officer, who reviews financial information for purposes of making operating decisions, assessing financial performance and allocating resources. The Company’s CODM evaluates financial information on a consolidated basis. As the Company operates as one operating segment, all required segment financial information is found in the condensed consolidated financial statements. Long-lived assets by geographical region are based on the location of the legal entity that owns the assets. As of September 30, 2020 and December 31, 2019, there were no significant long-lived assets held by entities outside of the United States. Revenue by geographical region is determined by location of the Company’s customers. Revenue from customers outside of the United States was approximately 28% for each of the nine months ended September 30, 2020 and 2019, respectively. Revenue by geographical region is as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Americas $ 26,455 $ 20,780 $ 74,847 $ 58,561 EMEA 5,304 4,075 15,363 11,690 Asia Pacific 1,907 1,566 5,393 4,312 Total $ 33,666 $ 26,421 $ 95,603 $ 74,563

Net Loss per Share

Net Loss per Share9 Months Ended
Sep. 30, 2020
Earnings Per Share [Abstract]
Net Loss per ShareNet Loss per Share Basic net loss per share is calculated by dividing the net loss by the weighted average number of outstanding shares of common stock each period. Diluted net loss per share is calculated by giving effect to all potential dilutive common stock equivalents, which includes stock options, restricted stock units, restricted stock awards, preferred stock and warrants. Because the Company incurred net losses each period, the basic and diluted calculations are the same. Basic and diluted net loss per share are the same for each class of common stock, as both Class A and Class B stockholders are entitled to the same liquidation and dividend rights. The following table presents the calculation for basic and diluted net loss per share (in thousands, except share and per share data): Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Net loss attributable to common shareholders $ (6,997) $ (5,039) $ (25,779) $ (20,957) Weighted average common shares outstanding 51,910,517 16,948,809 50,777,222 16,829,622 Net loss per share, basic and diluted $ (0.13) $ (0.30) $ (0.51) $ (1.25) The following outstanding shares of common stock equivalents were excluded from the calculation of diluted net loss per share for each period, as the impact of including them would have been anti-dilutive. The Company’s RSUs included a triggering liquidation performance condition prior to vesting. As such, these are treated as contingently issuable shares and were excluded from potential dilutive impact until the triggering liquidation performance condition was satisfied upon completion of the IPO on December 17, 2019. September 30, 2020 2019 Stock options outstanding 174,000 1,178,705 RSUs 2,142,801 — Convertible preferred stock — 22,014,263 Warrants — 35,305 Total potentially dilutive shares 2,316,801 23,228,273

Fair Value Measurements

Fair Value Measurements9 Months Ended
Sep. 30, 2020
Fair Value Disclosures [Abstract]
Fair Value MeasurementsFair Value Measurements The Company measures certain financial assets at fair value. Fair value is determined based upon the exit price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants, as determined by either the principal market or the most advantageous market. Inputs used in the valuation techniques to derive fair values are classified based on a three-level hierarchy, as follows: • Level 1: Quoted prices in active markets for identical assets or liabilities. • Level 2: Observable inputs, other than Level 1 prices, such as quoted prices for similar assets or liabilities, quoted prices in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. • Level 3: Unobservable inputs that are supported by little or no market activity. The following tables present information about the Company’s financial assets that are measured at fair value and indicate the fair value hierarchy of the valuation inputs used (in thousands): September 30, 2020 Level 1 Level 2 Level 3 Total Cash equivalents: Money market funds $ 115,222 $ — $ — $ 115,222 Marketable Securities: Corporate bonds — 22,908 — 22,908 Commercial paper — 16,461 — 16,461 U.S. Treasury securities — 10,125 — 10,125 Total assets $ 115,222 $ 49,494 $ — $ 164,716 December 31, 2019 Level 1 Level 2 Level 3 Total Cash equivalents: Money market funds $ 129,280 $ — $ — $ 129,280 Total assets $ 129,280 $ — $ — $ 129,280 The Company classifies its money market funds within Level 1 of the fair value hierarchy because they are valued based on quoted prices on active markets. Marketable securities are classified within Level 2 because they are valued using inputs other than quoted prices that are directly or indirectly observable in the market. The carrying amounts of certain financial instruments, including cash held in banks, accounts receivable, accounts payable and accrued liabilities, approximate fair value due to their short-term maturities and are excluded from the fair value tables above.

Subsequent Events

Subsequent Events9 Months Ended
Sep. 30, 2020
Subsequent Events [Abstract]
Subsequent EventsSubsequent EventsOn October 8, 2020, the Company's President and CEO became eligible to receive 120,916 RSUs pursuant to his employment agreement as the Company achieved a market capitalization threshold of $2 billion. Stock-based compensation expense of $0.2 million was recognized in relation to this award.

Nature of Operations and Summ_2

Nature of Operations and Summary of Significant Accounting Policies (Policies)9 Months Ended
Sep. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of PresentationThe unaudited condensed consolidated financial statements and accompanying notes were prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and the applicable regulations of the United States Securities and Exchange Commission (“SEC”) regarding interim financial reporting. The Company has prepared the unaudited condensed consolidated financial statements on a basis substantially consistent with the audited consolidated financial statements of the Company as of and for the year ended December 31, 2019, and these unaudited condensed consolidated financial statements include all normal recurring adjustments necessary for a fair statement of the results of the interim periods presented but are not necessarily indicative of the results of operations to be anticipated for the full year or any future period. The consolidated balance sheet as of December 31, 2019 included herein was derived from the audited consolidated financial statements as of that date but does not include all disclosures including certain disclosures required by GAAP on an annual basis. The unaudited condensed consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries.
Principles of ConsolidationAll significant intercompany transactions and balances have been eliminated in consolidation.
Use of EstimatesThe preparation of financial statements in conformity with GAAP requires management to make estimates, judgments and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. The Company bases its estimates on historical experience and on other assumptions that its management believes are reasonable under the circumstances, including but not limited to the potential impacts arising from the COVID-19 pandemic. As the extent and duration of the impact of the COVID-19 pandemic remains uncertain, the Company’s estimates and judgments may evolve as conditions change. The Company is not aware of any events or circumstances that would require an update to its estimates and judgments or a revision of the carrying value of its assets or liabilities as of November 10, 2020, the date of issuance of this Quarterly Report on Form 10-Q. Actual results could differ from those estimates. The Company’s most significant estimates and judgments are those related to the estimated period of benefit for incremental costs of obtaining a contract with a customer, the incremental borrowing rate for operating leases, calculation of allowance for doubtful accounts, useful lives of long-lived assets, stock-based compensation, income taxes, commitments and contingencies and litigation, among others.
Marketable SecuritiesMarketable securities consist of corporate bonds, commercial paper, and U.S. Treasury securities. The Company classifies marketable securities as available-for-sale at the time of purchase and reevaluates such classification as of each balance sheet date. All marketable securities are recorded at their estimated fair values. Unrealized gains and losses for the available-for-sale debt securities that are unrelated to credit loss factors are recorded in accumulated other comprehensive income (loss), or AOCI. As of September 30, 2020 and December 31, 2019, the Company’s AOCI balance was insignificant. Unrealized losses determined to be credit-related are recorded as Other income in the consolidated statements of operations and comprehensive loss and as an allowance for credit losses on Marketable securities on the consolidated balance sheet.
Recently Adopted Accounting PronouncementsRecently Adopted Accounting Pronouncements In June 2016, the FASB issued ASU 2016-13, including subsequent amendments, Measurement of Credit Losses on Financial Instruments (Topic 326) (“ASU 2016-13”), which modifies the accounting methodology for most financial instruments by establishing a new “expected loss model” that requires entities to estimate current expected credit losses on financial instruments, including trade accounts receivable, by using all practical and relevant information. This guidance is effective for interim and annual periods beginning after December 15, 2019. The Company adopted the ASU as of January 1, 2020, and the adoption did not have a material impact on the Company’s condensed consolidated financial statements. In August 2018, the FASB issued ASU 2018-15, Intangibles - Goodwill and Other-Internal-Use Software
Deferred RevenueDeferred revenue is recorded upon establishment of unconditional right to payment under non-cancelable contracts and is recognized as the revenue recognition criteria are met. The Company generally invoices customers in advance in monthly, quarterly, semi-annual and annual installments. The deferred revenue balance is influenced by several factors, including the compounding effects of renewals, invoice duration, timing and size.

Operating Leases (Tables)

Operating Leases (Tables)9 Months Ended
Sep. 30, 2020
Leases [Abstract]
Summary of operating lease assets and liabilitiesThe following table provides a summary of operating lease assets and liabilities as of September 30, 2020 (in thousands): Assets Operating lease right-of-use assets $ 10,274 Liabilities Operating lease liabilities 1,904 Operating lease liabilities, non-current 23,744 Total operating lease liabilities $ 25,648
Schedule of lease costThe following table provides information about leases on the condensed consolidated statements of operations and comprehensive loss (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Operating lease expense $ 580 $ 541 $ 1,987 $ 1,743 Variable lease expense 875 926 2,457 2,607 Sublease income 20 108 223 388
Schedule of remaining maturities of operating lease liabilitiesRemaining maturities of operating lease liabilities as of September 30, 2020 are as follows (in thousands): Years ending December 31, 2020 $ 729 2021 3,768 2022 3,930 2023 4,021 2024 4,112 Thereafter 16,498 Total future minimum lease payments $ 33,058 Less: imputed interest (6,670) Less: lease incentives (1) (740) Total operating lease liabilities $ 25,648 _________________ (1) Includes lease incentives that will be realized in 2020.

Incentive Stock Plan (Tables)

Incentive Stock Plan (Tables)9 Months Ended
Sep. 30, 2020
Share-based Payment Arrangement [Abstract]
Schedule of stock-based compensation expenseStock-based compensation expense is included in the unaudited condensed consolidated statements of operations and comprehensive loss as follows: Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 (in thousands) Cost of revenue $ 153 $ — $ 617 $ — Research and development 509 — 1,443 — Sales and marketing 667 — 1,833 — General and administrative 1,231 65 4,670 5,363 Total stock-based compensation $ 2,560 $ 65 $ 8,563 $ 5,363

Commitments and Contingencies (

Commitments and Contingencies (Tables)9 Months Ended
Sep. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
Schedule of contractual commitmentsContractual commitments as of September 30, 2020 are as follows (in thousands): Years ending December 31, 2020 $ 3,393 2021 20,486 2022 27,495 2023 15,222 2024 — Thereafter — Total contract commitments $ 66,596

Segment and Geographic Data (Ta

Segment and Geographic Data (Tables)9 Months Ended
Sep. 30, 2020
Segment Reporting [Abstract]
Schedule of revenue by geographical regionRevenue by geographical region is as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Americas $ 26,455 $ 20,780 $ 74,847 $ 58,561 EMEA 5,304 4,075 15,363 11,690 Asia Pacific 1,907 1,566 5,393 4,312 Total $ 33,666 $ 26,421 $ 95,603 $ 74,563

Net Loss per Share (Tables)

Net Loss per Share (Tables)9 Months Ended
Sep. 30, 2020
Earnings Per Share [Abstract]
Schedule of basic and diluted net loss per shareThe following table presents the calculation for basic and diluted net loss per share (in thousands, except share and per share data): Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Net loss attributable to common shareholders $ (6,997) $ (5,039) $ (25,779) $ (20,957) Weighted average common shares outstanding 51,910,517 16,948,809 50,777,222 16,829,622 Net loss per share, basic and diluted $ (0.13) $ (0.30) $ (0.51) $ (1.25)
Schedule of shares excluded from the calculation of diluted net loss per shareThe following outstanding shares of common stock equivalents were excluded from the calculation of diluted net loss per share for each period, as the impact of including them would have been anti-dilutive. The Company’s RSUs included a triggering liquidation performance condition prior to vesting. As such, these are treated as contingently issuable shares and were excluded from potential dilutive impact until the triggering liquidation performance condition was satisfied upon completion of the IPO on December 17, 2019. September 30, 2020 2019 Stock options outstanding 174,000 1,178,705 RSUs 2,142,801 — Convertible preferred stock — 22,014,263 Warrants — 35,305 Total potentially dilutive shares 2,316,801 23,228,273

Fair Value Measurements (Tables

Fair Value Measurements (Tables)9 Months Ended
Sep. 30, 2020
Fair Value Disclosures [Abstract]
Schedule of financial assets measured at fair valueThe following tables present information about the Company’s financial assets that are measured at fair value and indicate the fair value hierarchy of the valuation inputs used (in thousands): September 30, 2020 Level 1 Level 2 Level 3 Total Cash equivalents: Money market funds $ 115,222 $ — $ — $ 115,222 Marketable Securities: Corporate bonds — 22,908 — 22,908 Commercial paper — 16,461 — 16,461 U.S. Treasury securities — 10,125 — 10,125 Total assets $ 115,222 $ 49,494 $ — $ 164,716 December 31, 2019 Level 1 Level 2 Level 3 Total Cash equivalents: Money market funds $ 129,280 $ — $ — $ 129,280 Total assets $ 129,280 $ — $ — $ 129,280

Nature of Operations and Summ_3

Nature of Operations and Summary of Significant Accounting Policies (Details) - Class A common stock - USD ($) $ / shares in Units, $ in MillionsAug. 17, 2020Jan. 15, 2020
Follow-On Public Offering
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Shares issued and sold in offering (in shares)1,612,500
Offering price (in dollars per share) $ 27.50
Total proceeds from offering $ 42.1
Selling Shareholders
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Shares issued and sold in offering (in shares)5,287,500
Over-Allotment Option
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Shares issued and sold in offering (in shares)629,603
Total proceeds from offering $ 10

Revenue Recognition (Details)

Revenue Recognition (Details) - USD ($) $ in Millions3 Months Ended9 Months Ended
Sep. 30, 2020Sep. 30, 2019Sep. 30, 2020Sep. 30, 2019Dec. 31, 2019
Revenue from Contract with Customer [Abstract]
Revenue recognized previously deferred $ 17.5 $ 11.3 $ 27 $ 19.7
Revenue expected to be recognized $ 53.9 $ 53.9 $ 42.1
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue expected to be recognized, percentage91.00%
Revenue, remaining performance obligation, period12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-10-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue expected to be recognized, percentage87.00%87.00%
Revenue, remaining performance obligation, period12 months12 months

Operating Leases - Narrative (D

Operating Leases - Narrative (Details) - USD ($) $ in Thousands9 Months Ended
Sep. 30, 2020Sep. 30, 2019Jan. 23, 2020Jan. 21, 2020Dec. 31, 2019
Lessee, Lease, Description [Line Items]
Expected total future commitment $ 7,900
Operating lease, right-of-use assets $ 10,274 $ 5,618
Operating lease liability25,648
Payments related to operating leases $ 3,500 $ 4,000
Weighted-average remaining lease term8 years 2 months 12 days
Weighted-average discount rate5.60%
Minimum
Lessee, Lease, Description [Line Items]
Monthly rental payments $ 17
Maximum
Lessee, Lease, Description [Line Items]
Monthly rental payments $ 280
Lease Commenced on January 23, 2020
Lessee, Lease, Description [Line Items]
Operating lease, right-of-use assets $ 5,400
Operating lease liability $ 5,400

Operating Leases - Summary of o

Operating Leases - Summary of operating lease assets and liabilities (Details) - USD ($) $ in ThousandsSep. 30, 2020Dec. 31, 2019
Leases [Abstract]
Operating lease, right-of-use assets $ 10,274 $ 5,618
Operating lease liabilities1,904 2,331
Operating lease liabilities, net of current portion23,744 $ 18,196
Total operating lease liabilities $ 25,648

Operating Leases - Lease cost (

Operating Leases - Lease cost (Details) - USD ($) $ in Thousands3 Months Ended9 Months Ended
Sep. 30, 2020Sep. 30, 2019Sep. 30, 2020Sep. 30, 2019
Leases [Abstract]
Operating lease expense $ 580 $ 541 $ 1,987 $ 1,743
Variable lease expense875 926 2,457 2,607
Sublease income $ 20 $ 108 $ 223 $ 388

Operating Leases - Remaining ma

Operating Leases - Remaining maturities of operating lease liabilities (Details) $ in ThousandsSep. 30, 2020USD ($)
Leases [Abstract]
2020 $ 729
20213,768
20223,930
20234,021
20244,112
Thereafter16,498
Total future minimum lease payments33,058
Less: imputed interest(6,670)
Less: lease incentives(740)
Total operating lease liabilities $ 25,648

Incentive Stock Plan (Details)

Incentive Stock Plan (Details) - USD ($) $ in Thousands3 Months Ended9 Months Ended
Sep. 30, 2020Sep. 30, 2019Sep. 30, 2020Sep. 30, 2019
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation $ 2,560 $ 65 $ 8,563 $ 5,363
Cost of revenue
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation153 0 617 0
Research and development
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation509 0 1,443 0
Sales and marketing
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation667 0 1,833 0
General and administrative
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation $ 1,231 $ 65 $ 4,670 $ 5,363

Commitments and Contingencies_2

Commitments and Contingencies (Details) $ in ThousandsSep. 30, 2020USD ($)
Commitments and Contingencies Disclosure [Abstract]
2020 $ 3,393
202120,486
202227,495
202315,222
20240
Thereafter0
Total contract commitments $ 66,596

Segment and Geographic Data (De

Segment and Geographic Data (Details) $ in Thousands3 Months Ended9 Months Ended
Sep. 30, 2020USD ($)Sep. 30, 2019USD ($)Sep. 30, 2020USD ($)segmentSep. 30, 2019USD ($)
Segment Reporting [Abstract]
Number of operating segments | segment1
Disaggregation of Revenue [Line Items]
Total revenue $ 33,666 $ 26,421 $ 95,603 $ 74,563
Americas
Disaggregation of Revenue [Line Items]
Total revenue26,455 20,780 74,847 58,561
EMEA
Disaggregation of Revenue [Line Items]
Total revenue5,304 4,075 15,363 11,690
Asia Pacific
Disaggregation of Revenue [Line Items]
Total revenue $ 1,907 $ 1,566 $ 5,393 $ 4,312
Geographic Concentration Risk | Revenue from Contract with Customer Benchmark | Outside of the United States
Disaggregation of Revenue [Line Items]
Concentration risk percentage28.00%28.00%

Net Loss per Share - Basic and

Net Loss per Share - Basic and diluted net loss per share (Details) - USD ($) $ / shares in Units, $ in Thousands3 Months Ended9 Months Ended
Sep. 30, 2020Sep. 30, 2019Sep. 30, 2020Sep. 30, 2019
Earnings Per Share [Abstract]
Net loss attributable to common shareholders $ (6,997) $ (5,039) $ (25,779) $ (20,957)
Weighted average common shares outstanding (in shares)51,910,517 16,948,809 50,777,222 16,829,622
Net loss per share, basic and diluted (in dollars per share) $ (0.13) $ (0.30) $ (0.51) $ (1.25)

Net Loss per Share - Shares exc

Net Loss per Share - Shares excluded from the calculation of diluted net loss per share (Details) - shares9 Months Ended
Sep. 30, 2020Sep. 30, 2019
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total potentially dilutive shares (in shares)2,316,801 23,228,273
Stock options outstanding
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total potentially dilutive shares (in shares)174,000 1,178,705
RSUs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total potentially dilutive shares (in shares)2,142,801 0
Convertible preferred stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total potentially dilutive shares (in shares)0 22,014,263
Warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total potentially dilutive shares (in shares)0 35,305

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($) $ in ThousandsSep. 30, 2020Dec. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets $ 164,716 $ 129,280
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets115,222 129,280
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets49,494 0
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets0 0
Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities22,908
Corporate bonds | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities0
Corporate bonds | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities22,908
Corporate bonds | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities0
Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities16,461
Commercial paper | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities0
Commercial paper | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities16,461
Commercial paper | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities0
U.S. Treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities10,125
U.S. Treasury securities | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities0
U.S. Treasury securities | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities10,125
U.S. Treasury securities | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities0
Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents115,222 129,280
Money market funds | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents115,222 129,280
Money market funds | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents0 0
Money market funds | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents $ 0 $ 0

Subsequent Events (Details)

Subsequent Events (Details) - USD ($)Oct. 08, 2020Sep. 30, 2020Sep. 30, 2019Sep. 30, 2020Sep. 30, 2019
Subsequent Event [Line Items]
Stock-based compensation expense $ 2,560,000 $ 65,000 $ 8,563,000 $ 5,363,000
Subsequent Event
Subsequent Event [Line Items]
Market capitalization threshold $ 2,000,000,000
RSUs | Subsequent Event | Chief Executive Officer
Subsequent Event [Line Items]
Share-based award grant (in shares)120,916
Stock-based compensation expense $ 200,000