Document and Entity Information
Document and Entity Information - shares | 6 Months Ended | |
Jul. 31, 2019 | Aug. 31, 2019 | |
Cover [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Quarterly Report | true | |
Document Period End Date | Jul. 31, 2019 | |
Document Fiscal Year Focus | 2020 | |
Document Transition Report | false | |
Document Fiscal Period Focus | Q2 | |
Current Fiscal Year End Date | --01-31 | |
Entity File Number | 001-38982 | |
Entity Registrant Name | Medallia, Inc. | |
Entity Central Index Key | 0001540184 | |
Entity Incorporation State Country Code | DE | |
Entity Tax Identification Number | 73-0558353 | |
Entity Address, Address Line One | 575 Market Street | |
Entity Address, Address Line Two | Suite 1850 | |
Entity Address, City or Town | San Francisco | |
Entity Address, State or Province | CA | |
Entity Address, Postal Zip Code | 94105 | |
City Area Code | 650 | |
Local Phone Number | 321-3000 | |
Title of 12(b) Security | Common Stock, $0.001 par value per share | |
Trading Symbol | MDLA | |
Security Exchange Name | NYSE | |
Entity Current Reporting Status | No | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | true | |
Entity Ex Transition Period | false | |
Entity Shell Company | false | |
Entity Common Stock Shares Outstanding | 127,592,829 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (unaudited) - USD ($) $ in Thousands | Jul. 31, 2019 | Jan. 31, 2019 |
Current assets: | ||
Cash and cash equivalents | $ 364,419 | $ 44,876 |
Marketable securities | 53,018 | |
Trade and other receivables, net of allowance for doubtful accounts of $524 and $253 as of July 31, 2019 and January 31, 2019, respectively | 55,797 | 106,120 |
Deferred commissions, current | 18,248 | 15,874 |
Prepaid expenses and other current assets | 22,673 | 15,595 |
Total current assets | 514,155 | 182,465 |
Property and equipment, net | 25,042 | 42,989 |
Deferred commissions, noncurrent | 40,451 | 35,727 |
Goodwill and intangible assets, net | 39,708 | 17,050 |
Other noncurrent assets | 2,868 | 1,953 |
Total assets | 622,224 | 280,184 |
Current liabilities: | ||
Accounts payable | 2,818 | 1,007 |
Accrued expenses and other current liabilities | 18,262 | 12,840 |
Accrued compensation | 22,049 | 19,708 |
Deferred revenue, current | 171,586 | 210,666 |
Total current liabilities | 214,715 | 244,221 |
Deferred revenue, noncurrent | 834 | 1,151 |
Deferred rent, noncurrent | 2,593 | 37,182 |
Other liabilities | 6,551 | 4,188 |
Total liabilities | 224,693 | 286,742 |
Commitments and contingencies (Note 8) | ||
Stockholders’ equity (deficit): | ||
Additional paid-in capital | 809,014 | 363,076 |
Accumulated other comprehensive loss | (2,127) | (1,096) |
Accumulated deficit | (409,483) | (368,640) |
Total stockholders’ equity (deficit) | 397,531 | (6,558) |
Total liabilities and stockholders’ equity (deficit) | 622,224 | 280,184 |
Preferred Stock | ||
Stockholders’ equity (deficit): | ||
Preferred stock | ||
Common Stock | ||
Stockholders’ equity (deficit): | ||
Common stock | 127 | |
Total stockholders’ equity (deficit) | $ 127 | |
Convertible Preferred Stock | ||
Stockholders’ equity (deficit): | ||
Preferred stock | 72 | |
Total stockholders’ equity (deficit) | 72 | |
Common Stock, Class A | ||
Stockholders’ equity (deficit): | ||
Common stock | 30 | |
Total stockholders’ equity (deficit) | $ 30 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (unaudited) (Parenthetical) - USD ($) $ in Thousands | Jul. 31, 2019 | Jan. 31, 2019 |
Allowance for doubtful accounts | $ 524 | $ 253 |
Preferred Stock | ||
Preferred stock, par value | $ 0.001 | $ 0.001 |
Preferred stock, authorized | 100,000,000 | 0 |
Preferred stock, issued | 0 | 0 |
Preferred stock, outstanding | 0 | 0 |
Common Stock | ||
Common stock, par value | $ 0.001 | $ 0.001 |
Common stock, authorized | 1,000,000,000 | 0 |
Common stock, issued | 126,920,943 | 0 |
Common stock, outstanding | 126,920,943 | 0 |
Convertible Preferred Stock | ||
Preferred stock, par value | $ 0.001 | $ 0.001 |
Preferred stock, authorized | 0 | 72,622,216 |
Preferred stock, issued | 0 | 72,482,609 |
Preferred stock, outstanding | 0 | 72,482,609 |
Preferred stock, aggregate liquidation preference | $ 276,853 | |
Common Stock, Class A | ||
Common stock, par value | $ 0.001 | $ 0.001 |
Common stock, authorized | 0 | 200,000,000 |
Common stock, issued | 0 | 29,755,883 |
Common stock, outstanding | 0 | 29,755,883 |
Common Stock, Class B | ||
Common stock, par value | $ 0.001 | $ 0.001 |
Common stock, authorized | 0 | 3,000 |
Common stock, issued | 0 | 3,000 |
Common stock, outstanding | 0 | 3,000 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jul. 31, 2019 | Jul. 31, 2018 | Jul. 31, 2019 | Jul. 31, 2018 | |
Revenue: | ||||
Total revenue | $ 95,670 | $ 75,426 | $ 189,289 | $ 146,092 |
Cost of revenue: | ||||
Total cost of revenue | 34,883 | 29,559 | 67,478 | 57,179 |
Gross profit | 60,787 | 45,867 | 121,811 | 88,913 |
Operating expenses: | ||||
Research and development | 22,693 | 22,409 | 42,309 | 45,585 |
Sales and marketing | 46,470 | 38,623 | 80,085 | 74,053 |
General and administrative | 30,076 | 12,404 | 39,914 | 23,920 |
Total operating expenses | 99,239 | 73,436 | 162,308 | 143,558 |
Loss from operations | (38,452) | (27,569) | (40,497) | (54,645) |
Interest income and other income (expense), net | 431 | 154 | 573 | 18 |
Loss before provision for income taxes | (38,021) | (27,415) | (39,924) | (54,627) |
Provision for income taxes | 263 | 732 | 919 | 1,048 |
Net loss | $ (38,284) | $ (28,147) | $ (40,843) | $ (55,675) |
Net loss per share attributable to common stockholders, basic and diluted | $ (0.87) | $ (1.08) | $ (1.10) | $ (2.20) |
Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted | 43,986 | 25,970 | 37,248 | 25,345 |
Subscription | ||||
Revenue: | ||||
Total revenue | $ 74,547 | $ 60,099 | $ 146,259 | $ 115,682 |
Cost of revenue: | ||||
Total cost of revenue | 14,699 | 11,968 | 28,160 | 23,403 |
Professional Services | ||||
Revenue: | ||||
Total revenue | 21,123 | 15,327 | 43,030 | 30,410 |
Cost of revenue: | ||||
Total cost of revenue | $ 20,184 | $ 17,591 | $ 39,318 | $ 33,776 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Comprehensive Loss (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jul. 31, 2019 | Jul. 31, 2018 | Jul. 31, 2019 | Jul. 31, 2018 | |
Statement Of Income And Comprehensive Income [Abstract] | ||||
Net loss | $ (38,284) | $ (28,147) | $ (40,843) | $ (55,675) |
Other comprehensive income (loss), net of taxes: | ||||
Foreign currency translation adjustment | (223) | (826) | (386) | (1,001) |
Change in unrealized gain (loss) on marketable securities | 31 | 6 | 46 | 11 |
Change in unrealized gain (loss) on cash flow hedges | (438) | (115) | (691) | (129) |
Other comprehensive loss | (630) | (935) | (1,031) | (1,119) |
Comprehensive loss | $ (38,914) | $ (29,082) | $ (41,874) | $ (56,794) |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 6 Months Ended | |
Jul. 31, 2019 | Jul. 31, 2018 | |
Operating activities | ||
Net loss | $ (40,843) | $ (55,675) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Depreciation and amortization | 6,718 | 7,021 |
Amortization of deferred commissions | 8,687 | 6,127 |
Stock-based compensation expense | 43,141 | 13,121 |
Impairment (gain) on property and equipment and lease termination | (13,783) | |
Other | (560) | (450) |
Changes in assets and liabilities: | ||
Accounts receivable | 50,224 | 53,074 |
Deferred commissions | (15,785) | (6,610) |
Prepaid expenses and other current assets | (7,405) | 966 |
Other noncurrent assets | (36) | (229) |
Accounts payable | 1,832 | 2,535 |
Deferred revenue | (39,198) | (32,881) |
Accrued expenses and other current liabilities | 4,245 | (1,357) |
Other noncurrent liabilities | 121 | 577 |
Net cash used in operating activities | (2,642) | (13,781) |
Investing activities | ||
Purchases of property, equipment and other | (5,234) | (4,107) |
Purchase of marketable securities | (76,122) | (18,684) |
Maturities of marketable securities | 23,125 | 21,900 |
Proceeds from sale of investments | 511 | |
Acquisitions, net of cash acquired | (19,540) | |
Net cash used in investing activities | (77,260) | (891) |
Financing activities | ||
Proceeds from initial public offering net of issuance costs, underwriters discounts and commissions, and concurrent private placement | 320,392 | |
Proceeds from Series F convertible preferred stock, net of issuance costs | 69,848 | |
Proceeds from exercise of stock options | 13,018 | 4,252 |
Payment of capital leases | (1,469) | |
Repayment of debt assumed in acquisition | (2,297) | |
Net cash provided by financing activities | 399,492 | 4,252 |
Effect of exchange rate changes on cash and cash equivalents | (47) | (215) |
Net increase (decrease) in cash and cash equivalents | 319,543 | (10,635) |
Cash and cash equivalents at beginning of period | 44,876 | 42,699 |
Cash and cash equivalents at end of period | 364,419 | 32,064 |
Supplemental disclosures of cash flow information | ||
Cash paid for interest | 265 | 11 |
Cash paid for income taxes | 806 | 1,662 |
Noncash investing and financing activities | ||
Vesting of early exercised stock options | 392 | 444 |
Accrued unpaid issuance costs related to initial public offering | 690 | |
Accrued unpaid capital expenditures | $ 5,809 | $ 4,216 |
Condensed Consolidated Statem_4
Condensed Consolidated Statements of Stockholders' Equity(Deficit) (Unaudited) - USD ($) $ in Thousands | Total | IPO | Convertible Preferred Stock | Common Stock, Class A | Common Stock, Class B | Common Stock | Common StockIPO | Additional Paid-In Capital | Additional Paid-In CapitalIPO | Accumulated Other Comprehensive Loss | Accumulated Deficit |
Beginning Balance at Jan. 31, 2018 | $ 35,057 | $ 72 | $ 24 | $ 322,300 | $ (1,120) | $ (286,219) | |||||
Beginning Balance, shares at Jan. 31, 2018 | 72,394,601 | 24,637,801 | 3,000 | ||||||||
Cumulative effect of the adoption of ASU 2016-09 | Accounting Standards Update 2016-09 | 187 | (187) | |||||||||
Exercise of employee stock options | 4,133 | $ 2 | 4,131 | ||||||||
Exercise of employee stock options, shares | 2,004,837 | ||||||||||
Vesting of early exercised stock options | 444 | 444 | |||||||||
Repurchase of early exercised stock options, shares | (19,440) | ||||||||||
Issuance of shares at end of escrow period in connection with prior period acquisitions, shares | 81,433 | ||||||||||
Stock-based compensation | 13,121 | 13,121 | |||||||||
Other comprehensive loss | (1,119) | (1,119) | |||||||||
Net loss | (55,675) | (55,675) | |||||||||
Ending Balance at Jul. 31, 2018 | (4,039) | $ 72 | $ 26 | 340,183 | (2,239) | (342,081) | |||||
Ending Balance, shares at Jul. 31, 2018 | 72,394,601 | 26,704,631 | 3,000 | ||||||||
Beginning Balance at Apr. 30, 2018 | 16,083 | $ 72 | $ 25 | 331,224 | (1,304) | (313,934) | |||||
Beginning Balance, shares at Apr. 30, 2018 | 72,394,601 | 25,978,565 | 3,000 | ||||||||
Exercise of employee stock options | 2,260 | $ 1 | 2,259 | ||||||||
Exercise of employee stock options, shares | 733,067 | ||||||||||
Vesting of early exercised stock options | 216 | 216 | |||||||||
Repurchase of early exercised stock options, shares | (7,001) | ||||||||||
Stock-based compensation | 6,484 | 6,484 | |||||||||
Other comprehensive loss | (935) | (935) | |||||||||
Net loss | (28,147) | (28,147) | |||||||||
Ending Balance at Jul. 31, 2018 | (4,039) | $ 72 | $ 26 | 340,183 | (2,239) | (342,081) | |||||
Ending Balance, shares at Jul. 31, 2018 | 72,394,601 | 26,704,631 | 3,000 | ||||||||
Beginning Balance at Jan. 31, 2019 | (6,558) | $ 72 | $ 30 | 363,076 | (1,096) | (368,640) | |||||
Beginning Balance, shares at Jan. 31, 2019 | 72,482,609 | 29,755,883 | 3,000 | ||||||||
Issuance of Series F preferred shares, net of issuance costs | 69,848 | $ 5 | 69,843 | ||||||||
Issuance of Series F preferred shares, net of issuance costs, shares | 4,666,666 | ||||||||||
Conversion of common stock | $ (31) | $ 31 | |||||||||
Conversion of common stock, shares | (31,126,701) | (3,000) | 31,129,701 | ||||||||
Conversion of preferred stock | $ (77) | $ 77 | |||||||||
Conversion of preferred stock, shares | (77,149,275) | 77,149,275 | |||||||||
Proceeds from Initial Public Offering, net of issuance and underwriter's discounts and commissions and concurrent private placement | $ 319,572 | $ 17 | $ 319,555 | ||||||||
Proceeds from Initial Public Offering, net of issuance and underwriter's discounts and commissions and concurrent private placement, shares | 16,680,000 | ||||||||||
Exercise of employee stock options | $ 13,010 | $ 1 | $ 2 | 13,007 | |||||||
Exercise of employee stock options, shares | 3,259,840 | 1,370,818 | 1,889,293 | ||||||||
Vesting of early exercised stock options | $ 392 | 392 | |||||||||
Repurchase of early exercised stock options, shares | (625) | ||||||||||
Warrant exercise, shares | 73,299 | ||||||||||
Stock-based compensation | 43,141 | 43,141 | |||||||||
Other comprehensive loss | (1,031) | (1,031) | |||||||||
Net loss | (40,843) | (40,843) | |||||||||
Ending Balance at Jul. 31, 2019 | 397,531 | $ 127 | 809,014 | (2,127) | (409,483) | ||||||
Ending Balance, shares at Jul. 31, 2019 | 126,920,943 | ||||||||||
Beginning Balance at Apr. 30, 2019 | 73,767 | $ 77 | $ 31 | 446,355 | (1,497) | (371,199) | |||||
Beginning Balance, shares at Apr. 30, 2019 | 77,149,275 | 31,126,701 | 3,000 | ||||||||
Conversion of common stock | $ (31) | $ 31 | |||||||||
Conversion of common stock, shares | (31,126,701) | (3,000) | 31,129,701 | ||||||||
Conversion of preferred stock | $ (77) | $ 77 | |||||||||
Conversion of preferred stock, shares | (77,149,275) | 77,149,275 | |||||||||
Proceeds from Initial Public Offering, net of issuance and underwriter's discounts and commissions and concurrent private placement | $ 319,572 | $ 17 | $ 319,555 | ||||||||
Proceeds from Initial Public Offering, net of issuance and underwriter's discounts and commissions and concurrent private placement, shares | 16,680,000 | ||||||||||
Exercise of employee stock options | 7,742 | $ 2 | 7,740 | ||||||||
Exercise of employee stock options, shares | 1,889,293 | ||||||||||
Vesting of early exercised stock options | 185 | 185 | |||||||||
Repurchase of early exercised stock options, shares | (625) | ||||||||||
Warrant exercise, shares | 73,299 | ||||||||||
Stock-based compensation | 35,179 | 35,179 | |||||||||
Other comprehensive loss | (630) | (630) | |||||||||
Net loss | (38,284) | (38,284) | |||||||||
Ending Balance at Jul. 31, 2019 | $ 397,531 | $ 127 | $ 809,014 | $ (2,127) | $ (409,483) | ||||||
Ending Balance, shares at Jul. 31, 2019 | 126,920,943 |
Description of Business and Sum
Description of Business and Summary of Significant Accounting Policies | 6 Months Ended |
Jul. 31, 2019 | |
Accounting Policies [Abstract] | |
Description of Business and Summary of Significant Accounting Policies | 1. Description of Business and Summary of Significant Accounting Policies Description of Business Medallia, Inc. (the Company or Medallia) provides an enterprise Software-as-a-Service (SaaS) platform that utilizes deep learning-based artificial intelligence (AI) technology to analyze structured and unstructured data in live time from signal fields across human, digital and Internet of Things (IoT) interactions at great scale to derive personalized and predictive insights. Medallia’s customers include companies of various sizes and in various industries such as retail, technology, manufacturing, financial services, insurance and hospitality. Medallia is headquartered in San Francisco, California. Fiscal Year The Company’s fiscal year ends on January 31. References to fiscal 2019, for example, refer to the fiscal year ended January 31, 2019. Initial Public Offering and Private Placement In July 2019, the Company completed its initial public offering (the IPO) and sold 16,060,000 shares of its common stock, including the full exercise of the underwriters’ option to purchase additional shares, at a public offering price of $21.00 per share. The Company received net proceeds of $313.7 million after deducting underwriting discounts and commissions. In connection with the IPO: • all the shares of convertible preferred stock outstanding automatically converted into an aggregate of 77,149,275 shares of the Company’s common stock; • all shares of the Company’s Class A and Class B common stock outstanding immediately prior to the IPO automatically converted into an aggregated of 31,129,701 shares of the Company’s common stock; • the outstanding warrant to purchase 75,000 shares of preferred stock automatically converted into a warrant to purchase the same number of shares of common stock; and • in a concurrent private placement, a current stockholder purchased 620,000 shares of the Company’s common stock at $21.00 per share. The Company received aggregate proceeds of $13.0 million and did not pay any underwriting discounts or commissions with respect to the shares that were sold in this private placement. Deferred offering costs consist primarily of accounting, legal, and other fees related to the IPO. Prior to the IPO, all deferred offering costs were capitalized in other noncurrent assets in the unaudited condensed consolidated balance sheets. After the IPO, $7.1 million of deferred offering costs were reclassified into stockholders’ equity as a reduction of the IPO proceeds in the unaudited condensed consolidated balance sheets and the unaudited condensed consolidated statements of stockholders’ equity (deficit). JOBS Act Accounting Election The Company is an emerging growth company (EGC), as defined in the Jumpstart Our Business Startups Act of 2012 (the JOBS Act). Under the JOBS Act, EGCs can delay adopting new or revised accounting standards issued subsequent to the enactment of the JOBS Act until such time as those standards apply to private companies. The Company has elected to use this extended transition period for complying with new or revised accounting standards that have different effective dates for public and private companies until the earlier of the date we (i) are no longer an emerging growth company or (ii) affirmatively and irrevocably opt out of the extended transition period provided in the JOBS Act. As a result, the Company’s unaudited condensed consolidated financial statements may not be comparable to companies that comply with new or revised accounting pronouncements as of public company effective dates. Basis of Presentation and Consolidation The unaudited condensed consolidated financial statements include the accounts of the Company and all its wholly owned subsidiaries, after elimination of intercompany transactions and balances. The unaudited condensed consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States (U.S. GAAP) and applicable rules and regulations of the Securities and Exchange Commission (SEC) regarding interim financial reporting. The unaudited condensed consolidated balance sheet as of January 31, 2019 included herein was derived from the audited financial statements as of that date but does not include all disclosures including certain notes required by U.S. GAAP on an annual reporting basis. The unaudited condensed consolidated financial statements reflect all normal recurring adjustments necessary to present fairly the balance sheets, statements of comprehensive loss, statements of cash flows, and statements of stockholders’ equity for the interim periods, but are not necessarily indicative of the results of operations to be anticipated for the full fiscal year or any future period. These unaudited condensed consolidated financial statements should be read in conjunction with the Company’s consolidated financial statements and notes included in the prospectus dated July 18, 2019, as filed with the SEC pursuant to Rule 424(b) under the Securities Act of 1933, as amended (File No. 333-232271) (the Prospectus). Use of Estimates The preparation of these unaudited condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the consolidated financial statements and reported amounts of revenue and expenses during the periods covered by the financial statements and accompanying notes. Such estimates include, but are not limited to, revenue recognition, stock-based compensation including estimation of the grant date fair value of the common stock, the assessment of the recoverability of long-lived assets (goodwill, and identified intangible assets), and contingencies. The Company bases its estimates on historical experience and on assumptions that it believes are reasonable. The Company assesses these estimates on a regular basis; however, actual results could materially differ from these estimates. Summary of Significant Accounting Policies The Company’s significant accounting policies are discussed in “Index to Consolidated Financial Statements, Note 1. Summary of Business and Significant Accounting Policies” in the Prospectus. There have been no significant changes to these policies during the three and six months ended July 31, 2019. Revenue Recognition Revenue is recognized when promised goods or services are transferred to customers in an amount that reflects the consideration to which the Company expects to be entitled in exchange for those goods or services. The Company determines revenue recognition 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; and • recognition of revenue when, or as, the Company satisfies a performance obligation. Subscription Revenue Subscription revenue is derived from customers accessing the Company’s proprietary hosted cloud application. The Company’s customers do not have the ability to take possession of the software operating the cloud application. The contracted subscription terms are typically one to three years. The Company recognizes subscription revenue ratably over the subscription term, commencing on the date the service is provisioned. Professional Services Revenue Professional services revenue consists of managed services and implementation and other services. These services are distinct from subscription revenue. Managed services support our customers by providing a range of ongoing services including program design, launch, enhancement, expansion and analytics. Managed services are a stand-ready obligation to perform these services over the term of the arrangement and as a result, revenues are recognized ratably over the term of the arrangement. Implementation services consist primarily of initial design, integration and configuration services. Other professional services include insights projects that enable customers to gain insightful business information through data analysis, and the Company’s institute training programs. Implementation Contracts with Multiple Performance Obligations Most of the Company’s contracts with customers contain multiple performance obligations. The Company’s subscription services are sold for a broad range of amounts (the selling price is highly variable) and a representative standalone selling price (SSP) is not discernible from past transactions or other observable evidence. Standalone selling prices for professional services are estimated based upon observable transactions when those services are sold on a standalone basis. As a result, the SSP for subscription services included in a contract with multiple performance obligations is determined by applying a residual approach whereby performance obligations related to professional services within a contract are first allocated a portion of the transaction price based upon their respective SSPs, with the residual amount of transaction price allocated to subscription services. Contract Balances and Remaining Performance Obligations Contract assets represent revenue recognized for contracts that have not yet been invoiced to customers, typically for multi-year arrangements. Total contract assets were $0.8 million and $2.5 million as of July 31, 2019 and January 31, 2019, respectively, and are included within trade and other receivables, net, on the unaudited condensed consolidated balance sheets. Contract liabilities consist of deferred revenue. Revenue is deferred when the Company has the right to invoice in advance of services being provided. The Company recognized revenue of $83.4 million, $139.8 million for three and six months ended July 31, 2019, respectively, and $62.0 million and $106.2 million during the three months and six months ended July 31, 2018, respectively that was included in the deferred revenue balances at the beginning of the respective periods. Remaining performance obligations represent contracted revenue that has not yet been recognized, and include deferred revenue, and amounts that will be invoiced and recognized as revenue in future periods. As of July 31, 2019, the Company’s remaining performance obligations were $547.6 million, approximately 52% of which it expects to recognize as revenue over the next 12 months and the remaining balance thereafter. As of January 31, 2019, the Company’s remaining performance obligations were $470.6 million, approximately 56% of which it expects to recognize as revenue over the next 12 months and the remaining balance thereafter. The Company applied a practicable expedient allowing it not to disclose the amount of the transaction price allocated to the remaining performance obligations for contracts with an original expected duration of one year or less. Revenue by Geography The following table sets forth revenue by geographic area for the periods presented (in thousands): Three Months Ended July 31, Six Months Ended July 31, 2019 2018 2019 2018 North America $ 71,887 $ 55,578 $ 143,334 $ 108,399 EMEA 16,050 14,467 31,333 27,367 Other 7,733 5,381 14,622 10,326 Total $ 95,670 $ 75,426 $ 189,289 $ 146,092 The United States comprised 72%, 70%, 72% and 70% of the Company’s revenue in the three and six months ended July 31, 2019 and 2018, respectively. No other country comprised 10% or greater of the Company’s revenue for each of the three and six months ended July 31, 2019 and 2018. Deferred Commissions Sales commissions earned by our sales force are considered incremental and recoverable costs of obtaining a contract with a customer. Sales commissions for initial contracts are deferred and then amortized on a straight-line basis over a period of benefit, determined to be five years. We determined the period of benefit by taking into consideration our customer contracts, technology and other factors. Sales commissions for renewal contracts (which are not considered commensurate with sales commission for new revenue contracts) are deferred and amortized on a straight-line basis over the related contractual renewal period. Amortization expense is included in sales and marketing expenses in the unaudited consolidated statements of operations. Commissions earned and capitalized during the three and six months ended July 31, 2019 was $9.1 million and $15.8 million, respectively. Commissions earned and capitalized during the three and six months ended July 31, 2018 was $3.5 million and $6.6 million, respectively. Amortization expense for deferred commissions during the three and six months ended July 31, 2019 was $4.5 million and $8.7 million, respectively. Amortization expense for deferred commission during the three and six months ended July 31, 2018 was $3.1 million and $6.1 million respectively. Business Combinations The Company includes the results of operations of the businesses that it acquires from the date of acquisition. The Company determines the fair value of the assets acquired and liabilities assumed based on their estimated fair values as of the respective date of acquisition. The excess purchase price over the fair values of identifiable assets and liabilities is recorded as goodwill. Determining the fair value of assets acquired and liabilities assumed requires management to use significant judgment and estimates including the selection of valuation methodologies, estimates of future revenue and cash flows, discount rates, and selection of comparable companies. The Company’s estimates of fair value are based on assumptions believed to be reasonable, but which are inherently uncertain and unpredictable and, as a result, actual results may differ from estimates. During the measurement period, not to exceed one year from the date of acquisition, the Company may record adjustments to the assets acquired and liabilities assumed, with a corresponding offset to goodwill. At the conclusion of the measurement period, any subsequent adjustments are reflected in the unaudited condensed consolidated statements of operations. When the Company issues payments or grants of equity to selling stockholders in connection with an acquisition, the Company evaluates whether the payments or awards are compensatory. This evaluation includes whether cash payments or stock award vesting is contingent on the continued employment of the selling stockholder beyond the acquisition date. If continued employment is required for the cash to be paid or stock awards to vest, the award is treated as compensation for post-acquisition services and is recognized as compensation expense. Transaction costs associated with business combinations are expensed as incurred and are included in general and administrative expenses in the Company’s unaudited condensed consolidated statements of operations. Stock-Based Compensation The Company measures equity instruments, including stock options, restricted stock units (RSUs), and shares of common stock to be issued under the 2019 Employee Stock Purchase Plan (ESPP) based on the estimated grant-date fair value of the award. The Company calculates the fair value of options and shares of common stock to be issued under ESPP using Black-Scholes-Merton option-pricing model The Company measures RSUs based on the fair market value of the Company’s common stock on the grant date. Prior to the IPO, the Company’s board of directors determined the fair value of its common stock using various valuation methodologies, including valuation analyses performed by third-party valuation firms. After the IPO, the Company uses the publicly quoted price as reported on the New York Stock Exchange as the fair value of its common stock. The RSUs that the Company has issued to date generally vest upon the satisfaction of both a service-based and a liquidity event-related performance vesting condition Certain RSUs, in addition to the satisfaction of the service-based and liquidity event-related performance vesting conditions, also require the fulfillment of a performance vesting condition which includes the achievement of certain subscription revenue growth targets. The service-based vesting period is generally between three and four years. The liquidity event-related performance vesting condition is satisfied on the earlier of (i) a change in control event or (ii) the completion of an initial public offering of common stock, or a specified time period thereafter. The liquidity condition was satisfied upon the completion of the IPO, and the Company recognized an expense of $23.1 million for RSUs that had met the service condition as of that date, using the accelerated recognition method. Recently Issued Accounting Pronouncements In February 2016, the FASB issued ASU No. 2016-02, Leases, In August 2017, the FASB issued ASU 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities |
Cash Equivalents and Marketable
Cash Equivalents and Marketable Securities | 6 Months Ended |
Jul. 31, 2019 | |
Cash And Cash Equivalents [Abstract] | |
Cash Equivalents and Marketable Securities | 2. Cash Equivalents and Marketable Securities As of July 31, 2019, cash equivalents and marketable securities consisted of the following (in thousands): Amortized Cost Unrealized Gains Unrealized Losses Aggregate Fair Value Money market funds $ 18,226 $ — $ — $ 18,226 U.S. government and agency securities 200,974 32 — 201,006 Commercial paper 13,343 — — 13,343 Corporate notes and bonds 9,946 14 — 9,960 Total $ 242,489 $ 46 $ — $ 242,535 Included in cash and cash equivalents $ 189,517 $ — $ — $ 189,517 Included in marketable securities $ 52,972 $ 46 $ — $ 53,018 As of January 31, 2019, cash equivalents of $0.1 million consisted primarily of U.S. government treasury bills and approximated fair value and there were no marketable securities. |
Fair Value of Assets and Liabil
Fair Value of Assets and Liabilities | 6 Months Ended |
Jul. 31, 2019 | |
Fair Value Disclosures [Abstract] | |
Fair Value of Assets and Liabilities | 3. Fair Value of Assets and Liabilities The Company estimates the fair value of cash equivalents, marketable securities and foreign currency derivative contracts by applying the following hierarchy, which prioritizes the inputs used to measure fair value into three levels and bases the categorization within the hierarchy upon the lowest level of input that is available and significant to the fair value measurement: Level 1: Quoted prices in active markets for identical assets or liabilities. Level 2: Observable inputs such as quoted prices for similar assets or liabilities in active markets, quoted prices for identical assets and liabilities in inactive markets, or other inputs that are observable or can be corroborated by observable market data or other means. Level 3: Unobservable inputs that are supported by little or no market activity and are significant to the fair value of the assets or liabilities. The inputs require significant management judgment or estimation. All of the Company’s cash equivalents, marketable securities and foreign currency derivative contracts are classified within Level 1 or Level 2 because the Company’s cash equivalents, marketable securities and foreign currency derivative contracts are valued using quoted market prices or alternative pricing sources and models utilizing observable market inputs. The following tables represents the fair value of assets and liabilities measured at fair value on a recurring basis using the above hierarchy (in thousands): July 31, 2019 January 31, 2019 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Assets: Cash equivalents: Money market funds $ 18,226 $ — $ — $ 18,226 $ 106 $ — $ — $ 106 Corporate notes and bonds — — — — Commercial paper — 9,453 — 9,453 — — — — U.S. government and agency securities — 161,838 — 161,838 — — — — Total cash equivalents 18,226 171,291 — 189,517 106 — — 106 Marketable securities: Corporate notes and bonds — 9,960 — 9,960 — — — — Commercial paper — 3,890 — 3,890 — — — — U.S. government and agency securities — 39,168 — 39,168 — — — — Total marketable securities — 53,018 — 53,018 — — — — Derivative assets (note 4) — 826 — 826 — 1,073 — 1,073 Total assets measured at fair value $ 18,226 $ 225,135 $ — $ 243,361 $ 106 $ 1,073 $ — $ 1,179 Liabilities: Derivative liabilities (note 4) $ — $ 1,642 $ — $ 1,642 $ — $ 673 $ — $ 673 Total liabilities measured at fair value $ — $ 1,642 $ — $ 1,642 $ — $ 673 $ — $ 673 |
Derivative Instruments
Derivative Instruments | 6 Months Ended |
Jul. 31, 2019 | |
Derivative Instruments And Hedging Activities Disclosure [Abstract] | |
Derivative Instruments | 4. Derivative Instruments Cash Flow Hedges The Company is exposed to foreign currency fluctuations resulting from customer contracts denominated in foreign currencies. The Company has a hedging program in which it enters into foreign currency forward contracts related to certain customer contracts. The Company designates these forward contracts as cash flow hedging instruments since the accounting criteria for such designation have been met. As of July 31, 2019 and January 31, 2019, the Company had outstanding foreign currency forward contracts designated as cash flow hedges with total notional values of $9.4 million and $9.9 million, respectively. All contracts have maturities not greater than 13 months. The notional value represents the amount that will be bought or sold upon maturity of the forward contract. During the three and six months ended July 31, 2019 and 2018, all cash flow hedges were considered effective. Foreign Currency Forward Contracts Not Designated as Hedges The Company also enters into foreign currency forward contracts to hedge a portion of its net outstanding monetary assets and liabilities. These forward contracts are intended to offset the foreign currency gains or losses associated with the underlying monetary assets and liabilities and are recorded on the condensed consolidated balance sheet at fair value. The forward contracts are not designated as hedging instruments under applicable accounting guidance, and therefore all changes in the fair value of the forward contracts are recorded in Other income (expense), net on the unaudited condensed consolidated statements of operations. Cash flows from such forward contracts are classified as operating activities. As of July 31, 2019 and January 31, 2019, the Company had outstanding forward contracts with total notional values of $12.0 million and $2.5 million, respectively. All contracts have maturities not greater than 13 months. The fair values of outstanding derivative instruments were as follows (in thousands): July 31, 2019 January 31, 2019 Derivative assets (recorded in prepaid expenses and other current assets): Foreign currency forward contracts designated as cash flow hedges $ 285 $ 621 Foreign currency forward contracts not designated as hedges 541 453 Derivative liabilities (recorded in accrued expenses and other current liabilities): Foreign currency forward contracts designated as cash flow hedges $ 789 $ 71 Foreign currency forward contracts not designated as hedges 853 602 Gains (losses) associated with foreign currency forward contracts designated as cash flow hedges were as follows (in thousands): Condensed Consolidated Statements of Operations and Condensed Statements of Comprehensive Loss Locations Three Months Ended July 31, Six Months Ended, July 31, 2019 2018 2019 2018 Gains (losses) recognized in other comprehensive loss (effective portion) Change in unrealized gain (loss) on cash flow hedges, net of tax $ (467 ) $ (314 ) $ (610 ) $ 38 Gains (losses) reclassified from other comprehensive loss into income (effective portion) Revenues 115 (10 ) 219 (17 ) Gains (losses) reclassified from other comprehensive loss into income (effective portion) General and administrative (145 ) (188 ) (139 ) 184 Gains (losses) recognized in income (amount excluded from effectiveness testing and ineffective portion) Interest income and other income (expense), net (29 ) 7 (62 ) 16 Of the gains (losses) recognized in other comprehensive loss for the effective portion of foreign currency forward contracts designated as cash flow hedges as of July 31, 2019 and January 31, 2019, $0.1 million and $(0.5) million, respectively, is expected to be reclassified out of other comprehensive loss within the next 12 months. Gains (losses) associated with foreign currency forward contracts not designated as cash flow hedges were as follows (in thousands): Derivative Type Condensed Consolidated Statements of Operations Location Three Months Ended July 31, Six Months Ended, July 31, 2019 2018 2019 2018 Foreign currency forward contracts not designated as hedges Interest income and other income (expense), net $ 16 $ (151 ) $ (43 ) $ 87 As of July 31, 2019, information related to offsetting arrangements were as follows (in thousands): Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets Gross Amounts of Recognized Assets Gross Amounts Offset in the Condensed Consolidated Balance Sheets Net Amounts of Assets in the Condensed Consolidated Balance Sheets Financial Instruments Cash Collateral Received Net Asset Exposed Derivative assets: Counterparty A $ 139 $ — $ 139 $ — $ — $ 139 Counterparty B 687 — 687 (687 ) — — Total $ 826 $ — $ 826 $ (687 ) $ — $ 139 Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets Gross Amounts of Recognized Liabilities Gross Amounts Offset in the Condensed Consolidated Balance Sheets Net Amounts of Liabilities in the Condensed Consolidated Balance Sheets Financial Instruments Cash Collateral Pledged Net Liabilities Exposed Derivative liabilities: Counterparty A $ — $ — $ — $ — $ — $ — Counterparty B 1,642 — 1,642 (687 ) — 955 Total $ 1,642 $ — $ 1,642 $ (687 ) $ — $ 955 As of January 31, 2019, information related to offsetting arrangements were as follows (in thousands): Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets Gross Amounts of Recognized Assets Gross Amounts Offset in the Condensed Consolidated Balance Sheets Net Amounts of Assets in the Condensed Consolidated Balance Sheets Financial Instruments Cash Collateral Received Net Asset Exposed Derivative assets: Counterparty A $ 297 $ — $ 297 $ — $ — $ 297 Counterparty B 776 — 776 (673 ) — 103 Total $ 1,073 $ — $ 1,073 $ (673 ) $ — $ 400 Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets Gross Amounts of Recognized Liabilities Gross Amounts Offset in the Condensed Consolidated Balance Sheets Net Amounts of Liabilities in the Condensed Consolidated Balance Sheets Financial Instruments Cash Collateral Pledged Net Liabilities Exposed Derivative liabilities: Counterparty A $ — $ — $ — $ — $ — $ — Counterparty B 673 — 673 (673 ) — — Total $ 673 $ — $ 673 $ (673 ) $ — $ — |
Balance Sheet Components
Balance Sheet Components | 6 Months Ended |
Jul. 31, 2019 | |
Balance Sheet Related Disclosures [Abstract] | |
Balance Sheet Components | 5. Balance Sheet Components The following table summarizes property and equipment which consists of the following (in thousands): July 31, January 31, 2019 2019 Computer equipment and software $ 46,055 $ 43,605 Furniture, fixtures and equipment 556 2,790 Leasehold improvements 4,284 23,645 Equipment acquired under capital leases 11,568 6,125 Construction-in-progress 78 3,804 Total property and equipment, gross 62,541 79,969 Less accumulated depreciation and amortization (37,499 ) (36,980 ) Property and equipment, net $ 25,042 $ 42,989 Depreciation and amortization expense during the three and six months ended July 31, 2019 and 2018 totaled $3.5 million, $3.2 million, $6.7 million and $6.7 million, respectively, which includes depreciation of assets recorded under capital leases of $1.0 million, $0.1 million, $1.6 million and $0.1 million for the three and six months ended July 31, 2019 and 2018, respectively. During the six months ended July 31, 2019, the Company recorded a net gain of approximately $4.0 million as a result of the termination of its lease for its former corporate headquarters which included the gain on the reversal of the deferred rent of $34.5 million, partially offset by the impairment of property and equipment of $20.7 million and cash payments associated with the termination and other fees of $9.8 million. The following table summarizes accrued compensation which consists of the following (in thousands): July 31, January 31, 2019 2019 Accrued salaries and bonus $ 8,094 $ 2,958 Accrued commissions 7,486 10,215 Accrued vacation 3,878 4,013 Payroll taxes 2,591 2,522 Accrued compensation $ 22,049 $ 19,708 |
Business Combinations
Business Combinations | 6 Months Ended |
Jul. 31, 2019 | |
Business Combinations [Abstract] | |
Business Combinations | 6. Business Combinations On May 16, 2019, the Company acquired Strikedeck Inc. (Strikedeck), a privately-held company and provider of customer success platform for business-to-business customers. The purchase consideration was $11.0 million in cash. On June 17, 2019, the Company acquired Cooladata Ltd. (Cooladata), a privately-held company for a purchase price of $7.6 million in cash. Cooladata is a cloud-based behavioral analytics platform that can derive and predict customer sentiment. On July 15, 2019, the Company acquired Promoter.io Inc. (Promoter.io), a privately-held company for a purchase price of $2.3 million in cash. Promoter.io is a Net Promoter Score (NPS) platform for small and medium sized businesses that can measure loyalty and customer sentiment using the NPS. The above transactions were each accounted for as a business combination. Accordingly, assets acquired and liabilities assumed were recorded at their estimated fair values as of the acquisition date when control was obtained. The Company expensed all transaction costs in the period in which they were incurred. The fair value of developed technologies was determined by using the Multiple Period Excess Method and the trademarks were determined using the Royalty Relief Method. The excess of the consideration paid over the fair value of the net tangible assets and liabilities and identifiable intangible assets acquired is recorded as goodwill. The goodwill resulting from the acquisitions are largely attributable to the synergies expected to be realized. None of the goodwill recorded from the acquisitions will be deductible for income tax purposes. The following table summarizes the acquisition consideration and the related fair values of the assets acquired and liabilities assumed (in thousands): Strikedeck Cooladata Promoter.io Amount Useful Life Amount Useful Life Amount Useful Life Net (liabilities) assumed $ (305 ) $ (2,784 ) $ (397 ) Intangibles Developed technology 4,000 5 years 4,600 5 years 700 5 years Trademarks 200 5 years Goodwill 6,803 5,530 1,191 Total purchase price, net of cash acquired $ 10,498 $ 7,346 $ 1,694 The financial results for the above acquisitions are included in the Company's unaudited condensed consolidated financial statements from the date of acquisition through July 31, 2019. The pro forma impact of these acquisitions on unaudited condensed consolidated revenue, income (loss) from operations and net loss was not material. |
Goodwill And Intangible Assets,
Goodwill And Intangible Assets, Net | 6 Months Ended |
Jul. 31, 2019 | |
Goodwill And Intangible Assets Disclosure [Abstract] | |
Goodwill and Intangible Assets, Net | 7. Goodwill and Intangible Assets, Net Goodwill represents the excess of the purchase price in a business combination over the fair value of net assets The changes in the carrying value of goodwill are as follows (in thousands): Goodwill Balance as of January 31, 2019 $ 16,745 Acquisitions of Strikedeck, Cooladata, and Promoter.io 13,524 Balance as of July 31, 2019 $ 30,269 The carrying amount of intangible assets, net was as follows (in thousands): January 31, Intangibles Accumulated July 31, Weighted Average Remaining Useful Life 2019 acquired Amortization 2019 Years Developed technology $ 1,900 $ 9,300 $ (1,959 ) $ 9,241 5 Trademarks — 200 (2 ) 198 5 $ 1,900 $ 9,500 $ (1,961 ) $ 9,439 Developed technology and trademarks names are amortized over a five year period. The total amortization expense for intangible assets was $0.3 million, $0.4 million, $0.1 million and $0.3 million for the three and six months ended July 31, 2019 and 2018, respectively. The estimated aggregate future amortization expense of intangible assets as of July 31, 2019 is as follows (stated in thousands): Remainder of 2020 $ 1,035 2021 2,043 2022 1,905 2023 1,905 2024 1,905 Thereafter 646 Total $ 9,439 |
Commitments and Contingencies
Commitments and Contingencies | 6 Months Ended |
Jul. 31, 2019 | |
Commitments And Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | 8. Commitments and Contingencies Operating and Capital Leases The Company leases certain office and data center facilities which are operating leases as well as equipment leases which are capital leases. There were no material changes to the future minimum lease payments by year under the noncancelable leases reported in the Prospectus. Revolving Line of Credit As of July 31, 2019 and January 31, 2019, the Company maintained a revolving line of credit that matures in September 2020 and provides for aggregate borrowings of up to $50.0 million. Prior to the maturity date, the Company has the option to borrow an aggregate amount not to exceed $15.0 million and convert the borrowing to a term loan (Term-Out Loan), provided that no prior event of default has occurred. The existing aggregate borrowing amount on the revolving line of credit is reduced by the amount of the Term-Out Loan. Principal payments on the Term-Out Loan are repaid in consecutive monthly installments. The maturity date is the earlier of (i) 48 months after such Term-Out Loan was made and (ii) September 2023. The applicable interest rate for borrowings under the revolving line of credit and the Term-Out Loan are determined as follows: for borrowings less than $5.0 million, the interest rate is based on the Wall Street Journal’s Prime Rate plus a 0.5% margin. For borrowings greater than or equal to $5.0 million, but less than $10.0 million, the interest rate is based on the Wall Street Journal’s Prime Rate. For borrowings greater or equal to $10.0 million, the interest rate is based on the Wall Street Journal’s Prime Rate minus a 0.5% applicable margin. Standby letters of credit related to the Company’s office lease facilities of $3.7 million and $10.5 million were outstanding as of July 31, 2019 and January 31, 2019, respectively, and such amounts reduce aggregate borrowings available under the revolving line of credit. As of July 31, 2019 and January 31, 2019, $46.3 million and $39.5 million, respectively, was available for borrowing under the revolving line of credit. As of July 31, 2019 and January 31, 2019, the Company was in compliance with the financial covenants contained in the revolving line of credit. The revolving line of credit requires the Company to achieve a minimum level of quarterly subscription revenue and liquidity as defined in the credit agreement. Warranties, Indemnification, and Contingent Obligations The Company’s arrangements generally include provisions indemnifying customers against liabilities if their customer data is compromised due to a breach of information security, or if the Company’s applications or services infringe a third-party’s intellectual property rights. To date, the Company has not incurred any costs as a result of such indemnification and has not accrued any liabilities related to such obligations in the consolidated financial statements. The Company enters into service level agreements with customers which warrant defined levels of uptime and support response times and permit those customers to receive credits for prepaid amounts in the event that those performance and response levels are not met. To date, the Company has not experienced any significant failures to meet defined levels of performance and response. In connection with the service level agreements, the Company has not incurred any significant costs and has not accrued any liabilities in the consolidated financial statements. The Company’s subscription services agreements also generally include a warranty that the service performs in accordance with the applicable specifications document. The Company’s professional services are generally warranted to be performed in a professional manner and in a manner that will comply with the terms of the customer agreements. To date, the Company has not incurred any material costs associated with these warranties. |
Income Taxes
Income Taxes | 6 Months Ended |
Jul. 31, 2019 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | 9. Income Taxes The Company determines its income tax provision for interim periods using an estimate of our annual effective tax rate adjusted for discrete items occurring during the periods presented. The Company recorded tax expense of $0.3 million and $0.9 million for the three and six months ended July 31, 2019, respectively, and $0.7 million and $1.0 million for the three and six months ended July 31, 2018, respectively. The income tax expense for the three and six months ended July 31, 2019 was primarily attributable to state taxes, foreign income and foreign withholding taxes partially offset by a $0.4 million benefit related to the reduction of the valuation allowance due to the Strikedeck acquisition in the three months ended July 31, 2019. The income tax expense for the three and six months ended July 31, 2018 was primarily attributable to state taxes, foreign income and foreign withholding taxes. |
Equity Incentive Plans
Equity Incentive Plans | 6 Months Ended |
Jul. 31, 2019 | |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | |
Equity Incentive Plans | 10. Equity Incentive Plans The Company’s 2008 Equity Incentive Plan (the 2008 Plan) provides for the granting of options to purchase shares of common stock, RSUs and stock appreciation rights to employees, directors, and consultants of the Company. The 2008 Plan provides for grants of immediately exercisable options; however, such exercises contain repurchase provisions that provide the Company with rights to repurchase any unvested common stock upon termination of employment at the original exercise price. In December 2017, the Company’s board of directors adopted, and in February 2018 the stockholders approved, the 2017 Equity Incentive Plan (the 2017 Plan), with an initial share reserve of 3,000,000 shares of common stock, plus any reserved but unissued shares under the 2008 Plan. The 2017 Plan is the successor to and continuation of the 2008 Plan. The 2017 Plan provides for at the Company’s discretion, grants of immediately exercisable options, subject to repurchase provisions. Options and RSUs granted generally vest between three to four years. During fiscal 2019 and the six months ended July 31, 2019, the compensation committee of the Company’s board of directors approved an increase to the share reserve for issuance under the 2017 Plan by 22,000,000 shares and 5,000,000 shares, respectively. In June 2019, the Company’s board of directors adopted, and the stockholders approved, the 2019 Equity Incentive Plan (the 2019 Plan), with an initial share reserve of 19,000,000, plus any reserved but unissued shares under the 2017 Plan. The 2019 Plan became effective July 17, 2019 and is the successor to and continuation of the 2008 and 2017 Plans. Stock options and RSU’s granted generally vest between three to four years. In connection with the IPO, the 2008 and the 2017 Plans were terminated. All shares that remained available for future issuance under the 2008 and 2017 Plans at that time were transferred to the 2019 Plan. To the extent that grants outstanding under the 2008 and 2017 Plans terminate, cancel or are forfeited, the shares reserved for issuance under such grants are transferred to the 2019 Plan and become available for subsequent grant thereunder. In June, 2019, the Company’s board of directors adopted, and the stockholders approved, the The Plan activity is as follows: Six Months Ended July 31, 2019 2018 Opening balance 4,023,140 3,725,180 Shares authorized 24,000,000 5,000,000 Options and RSUs granted (7,016,256 ) (9,324,211 ) Cancelled shares 1,884,668 2,117,042 Ending balance 22,891,552 1,518,011 The stock-based compensation expense by line item in the unaudited condensed consolidated statements of operations is summarized as follows (in thousands): Three Months Ended July 31, Six Months Ended July 31, 2019 2018 2019 2018 Cost of subscription revenue $ 869 $ 321 $ 1,156 $ 600 Cost of professional services revenue 2,690 719 3,247 1,242 Research and development expense 3,658 1,755 5,241 4,180 Sales and marketing expense 8,475 1,909 9,968 3,440 General and administrative expense 19,487 1,780 23,529 3,659 Total stock-based compensation $ 35,179 $ 6,484 $ 43,141 $ 13,121 Options Activity The fair value of each stock option granted to employees was estimated at the date of grant using the Black-Scholes-Merton option-pricing model with the following assumptions. The Company did not issue any options during the three months ended July 31, 2019: Three Months Ended July 31, Six Months Ended July 31, 2019 2018 2019 2018 Risk-free interest rate — 2.8% - 2.9% 2.5% 2.5% - 2.9% Expected volatility — 40% - 42% 41% 40% - 44% Expected term (in years) — 5.50 - 6.69 5.85 5.50 - 6.69 Expected dividend rate — — — — The following table summarizes the option activity: Options Outstanding Weighted Average Average Aggregate Exercise Remaining Intrinsic Number of Price per Contractual Value Shares Share Term (years) (in thousands) Balance as of January 31, 2019 52,797,213 $ 5.27 8.12 $ 388,631 Options granted 478,278 12.63 13,752 Options exercised (3,259,840 ) 3.97 Options cancelled or expired (1,745,103 ) 6.17 Balance as of July 31, 2019 48,270,548 $ 5.40 7.70 $ 1,663,031 Exercisable at July 31, 2019 22,784,604 $ 4.22 6.44 $ 811,614 The weighted-average grant-date fair value of options granted during the six months ended July 31, 2019 was $5.38 per share. The grant date fair value of stock options vested during the six months ended July 31, 2019 was $13.4 million. The unrecognized compensation expense related to stock options was $63.4 million as of July 31, 2019 and is expected to be recognized over a weighted-average remaining recognition period of 2.8 years. Restricted Stock Units Activity The following table summarizes the restricted stock unit activity: Restricted Stock Units Performance Restricted Stock Units Number of Shares Weighted Average Grant Date Fair Value Number of Shares Weighted Average Grant Date Fair Value Balance as of January 31, 2019 3,155,197 $ 6.29 — $ — Shares granted 5,637,399 13.85 900,579 13.91 Shares cancelled and expired (139,565 ) 13.44 — — Balance as of July 31, 2019 8,653,031 $ 11.05 900,579 $ 13.91 The unrecognized compensation expense related to RSUs, including Performance Restricted Stock Units as of July 31, 2019 was $77.4 million and is expected to be recognized over a weighted-average remaining recognition period of 3.8 years. Employee Stock Purchase Plan The fair value of each ESPP share is estimated on the enrollment date of the offering period using the Black-Scholes-Merton option-pricing model and the assumptions noted in the following table: July 31, 2019 Risk-free interest rate 1.9 % Expected volatility 38 % Expected term (in years) 0.65 Expected dividend rate — The fair value of stock purchase rights granted under the ESPP during the three months ended July 31, 2019 was $5.78 per share. As of July 31, 2019, the Company had $3.7 million of unrecognized compensation expense related to ESPP subscriptions that will be recognized over 0.6 years. |
Net Loss Per Share Attributable
Net Loss Per Share Attributable to Common Stockholders | 6 Months Ended |
Jul. 31, 2019 | |
Earnings Per Share [Abstract] | |
Net Loss Per Share Attributable to Common Stockholders | 11. Net Loss Per Share Attributable to Common Stockholders The following table sets forth the computation of basic and diluted net loss per share attributable to common stockholders: Three Months Ended July 31, Six Months Ended July 31, 2019 2018 2019 2018 Numerator: Net Loss $ (38,284 ) $ (28,147 ) $ (40,843 ) $ (55,675 ) Denominator: Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted 43,986 25,970 37,248 25,345 Net loss per share attributable to common stockholders, basic and diluted $ (0.87 ) $ (1.08 ) $ (1.10 ) $ (2.20 ) The potential shares of common stock that were exclude from the computation of diluted net loss per share attributable to common stockholders for the periods presented because including them would have been antidilutive are as follows: Three Months Ended July 31, Six Months Ended July 31, 2019 2018 2019 2018 Convertible preferred stock — 72,395 — 72,395 Stock options 48,271 44,509 48,271 44,509 Restricted stock units 9,554 — 9,554 — ESPP 683 — 683 — Common stock warrant — 75 — 75 Convertible Preferred stock warrant 56 56 56 56 Unvested early exercises subject to repurchase 28 248 28 248 Total 58,592 117,283 58,592 117,283 |
Description of Business and S_2
Description of Business and Summary of Significant Accounting Policies (Policies) | 6 Months Ended |
Jul. 31, 2019 | |
Accounting Policies [Abstract] | |
Fiscal Year | Fiscal Year The Company’s fiscal year ends on January 31. References to fiscal 2019, for example, refer to the fiscal year ended January 31, 2019. |
Initial Public Offering and Private Placement | Initial Public Offering and Private Placement In July 2019, the Company completed its initial public offering (the IPO) and sold 16,060,000 shares of its common stock, including the full exercise of the underwriters’ option to purchase additional shares, at a public offering price of $21.00 per share. The Company received net proceeds of $313.7 million after deducting underwriting discounts and commissions. In connection with the IPO: • all the shares of convertible preferred stock outstanding automatically converted into an aggregate of 77,149,275 shares of the Company’s common stock; • all shares of the Company’s Class A and Class B common stock outstanding immediately prior to the IPO automatically converted into an aggregated of 31,129,701 shares of the Company’s common stock; • the outstanding warrant to purchase 75,000 shares of preferred stock automatically converted into a warrant to purchase the same number of shares of common stock; and • in a concurrent private placement, a current stockholder purchased 620,000 shares of the Company’s common stock at $21.00 per share. The Company received aggregate proceeds of $13.0 million and did not pay any underwriting discounts or commissions with respect to the shares that were sold in this private placement. Deferred offering costs consist primarily of accounting, legal, and other fees related to the IPO. Prior to the IPO, all deferred offering costs were capitalized in other noncurrent assets in the unaudited condensed consolidated balance sheets. After the IPO, $7.1 million of deferred offering costs were reclassified into stockholders’ equity as a reduction of the IPO proceeds in the unaudited condensed consolidated balance sheets and the unaudited condensed consolidated statements of stockholders’ equity (deficit). |
Jobs Act Accounting Election | JOBS Act Accounting Election The Company is an emerging growth company (EGC), as defined in the Jumpstart Our Business Startups Act of 2012 (the JOBS Act). Under the JOBS Act, EGCs can delay adopting new or revised accounting standards issued subsequent to the enactment of the JOBS Act until such time as those standards apply to private companies. The Company has elected to use this extended transition period for complying with new or revised accounting standards that have different effective dates for public and private companies until the earlier of the date we (i) are no longer an emerging growth company or (ii) affirmatively and irrevocably opt out of the extended transition period provided in the JOBS Act. As a result, the Company’s unaudited condensed consolidated financial statements may not be comparable to companies that comply with new or revised accounting pronouncements as of public company effective dates. |
Basis of Presentation and Consolidation | Basis of Presentation and Consolidation The unaudited condensed consolidated financial statements include the accounts of the Company and all its wholly owned subsidiaries, after elimination of intercompany transactions and balances. The unaudited condensed consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States (U.S. GAAP) and applicable rules and regulations of the Securities and Exchange Commission (SEC) regarding interim financial reporting. The unaudited condensed consolidated balance sheet as of January 31, 2019 included herein was derived from the audited financial statements as of that date but does not include all disclosures including certain notes required by U.S. GAAP on an annual reporting basis. The unaudited condensed consolidated financial statements reflect all normal recurring adjustments necessary to present fairly the balance sheets, statements of comprehensive loss, statements of cash flows, and statements of stockholders’ equity for the interim periods, but are not necessarily indicative of the results of operations to be anticipated for the full fiscal year or any future period. These unaudited condensed consolidated financial statements should be read in conjunction with the Company’s consolidated financial statements and notes included in the prospectus dated July 18, 2019, as filed with the SEC pursuant to Rule 424(b) under the Securities Act of 1933, as amended (File No. 333-232271) (the Prospectus). |
Use of Estimates | Use of Estimates The preparation of these unaudited condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the consolidated financial statements and reported amounts of revenue and expenses during the periods covered by the financial statements and accompanying notes. Such estimates include, but are not limited to, revenue recognition, stock-based compensation including estimation of the grant date fair value of the common stock, the assessment of the recoverability of long-lived assets (goodwill, and identified intangible assets), and contingencies. The Company bases its estimates on historical experience and on assumptions that it believes are reasonable. The Company assesses these estimates on a regular basis; however, actual results could materially differ from these estimates. |
Revenue Recognition | Revenue Recognition Revenue is recognized when promised goods or services are transferred to customers in an amount that reflects the consideration to which the Company expects to be entitled in exchange for those goods or services. The Company determines revenue recognition 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; and • recognition of revenue when, or as, the Company satisfies a performance obligation. Subscription Revenue Subscription revenue is derived from customers accessing the Company’s proprietary hosted cloud application. The Company’s customers do not have the ability to take possession of the software operating the cloud application. The contracted subscription terms are typically one to three years. The Company recognizes subscription revenue ratably over the subscription term, commencing on the date the service is provisioned. Professional Services Revenue Professional services revenue consists of managed services and implementation and other services. These services are distinct from subscription revenue. Managed services support our customers by providing a range of ongoing services including program design, launch, enhancement, expansion and analytics. Managed services are a stand-ready obligation to perform these services over the term of the arrangement and as a result, revenues are recognized ratably over the term of the arrangement. Implementation services consist primarily of initial design, integration and configuration services. Other professional services include insights projects that enable customers to gain insightful business information through data analysis, and the Company’s institute training programs. Implementation Contracts with Multiple Performance Obligations Most of the Company’s contracts with customers contain multiple performance obligations. The Company’s subscription services are sold for a broad range of amounts (the selling price is highly variable) and a representative standalone selling price (SSP) is not discernible from past transactions or other observable evidence. Standalone selling prices for professional services are estimated based upon observable transactions when those services are sold on a standalone basis. As a result, the SSP for subscription services included in a contract with multiple performance obligations is determined by applying a residual approach whereby performance obligations related to professional services within a contract are first allocated a portion of the transaction price based upon their respective SSPs, with the residual amount of transaction price allocated to subscription services. Contract Balances and Remaining Performance Obligations Contract assets represent revenue recognized for contracts that have not yet been invoiced to customers, typically for multi-year arrangements. Total contract assets were $0.8 million and $2.5 million as of July 31, 2019 and January 31, 2019, respectively, and are included within trade and other receivables, net, on the unaudited condensed consolidated balance sheets. Contract liabilities consist of deferred revenue. Revenue is deferred when the Company has the right to invoice in advance of services being provided. The Company recognized revenue of $83.4 million, $139.8 million for three and six months ended July 31, 2019, respectively, and $62.0 million and $106.2 million during the three months and six months ended July 31, 2018, respectively that was included in the deferred revenue balances at the beginning of the respective periods. Remaining performance obligations represent contracted revenue that has not yet been recognized, and include deferred revenue, and amounts that will be invoiced and recognized as revenue in future periods. As of July 31, 2019, the Company’s remaining performance obligations were $547.6 million, approximately 52% of which it expects to recognize as revenue over the next 12 months and the remaining balance thereafter. As of January 31, 2019, the Company’s remaining performance obligations were $470.6 million, approximately 56% of which it expects to recognize as revenue over the next 12 months and the remaining balance thereafter. The Company applied a practicable expedient allowing it not to disclose the amount of the transaction price allocated to the remaining performance obligations for contracts with an original expected duration of one year or less. Revenue by Geography The following table sets forth revenue by geographic area for the periods presented (in thousands): Three Months Ended July 31, Six Months Ended July 31, 2019 2018 2019 2018 North America $ 71,887 $ 55,578 $ 143,334 $ 108,399 EMEA 16,050 14,467 31,333 27,367 Other 7,733 5,381 14,622 10,326 Total $ 95,670 $ 75,426 $ 189,289 $ 146,092 The United States comprised 72%, 70%, 72% and 70% of the Company’s revenue in the three and six months ended July 31, 2019 and 2018, respectively. No other country comprised 10% or greater of the Company’s revenue for each of the three and six months ended July 31, 2019 and 2018. |
Deferred Commissions | Deferred Commissions Sales commissions earned by our sales force are considered incremental and recoverable costs of obtaining a contract with a customer. Sales commissions for initial contracts are deferred and then amortized on a straight-line basis over a period of benefit, determined to be five years. We determined the period of benefit by taking into consideration our customer contracts, technology and other factors. Sales commissions for renewal contracts (which are not considered commensurate with sales commission for new revenue contracts) are deferred and amortized on a straight-line basis over the related contractual renewal period. Amortization expense is included in sales and marketing expenses in the unaudited consolidated statements of operations. Commissions earned and capitalized during the three and six months ended July 31, 2019 was $9.1 million and $15.8 million, respectively. Commissions earned and capitalized during the three and six months ended July 31, 2018 was $3.5 million and $6.6 million, respectively. Amortization expense for deferred commissions during the three and six months ended July 31, 2019 was $4.5 million and $8.7 million, respectively. Amortization expense for deferred commission during the three and six months ended July 31, 2018 was $3.1 million and $6.1 million respectively. |
Business Combinations | Business Combinations The Company includes the results of operations of the businesses that it acquires from the date of acquisition. The Company determines the fair value of the assets acquired and liabilities assumed based on their estimated fair values as of the respective date of acquisition. The excess purchase price over the fair values of identifiable assets and liabilities is recorded as goodwill. Determining the fair value of assets acquired and liabilities assumed requires management to use significant judgment and estimates including the selection of valuation methodologies, estimates of future revenue and cash flows, discount rates, and selection of comparable companies. The Company’s estimates of fair value are based on assumptions believed to be reasonable, but which are inherently uncertain and unpredictable and, as a result, actual results may differ from estimates. During the measurement period, not to exceed one year from the date of acquisition, the Company may record adjustments to the assets acquired and liabilities assumed, with a corresponding offset to goodwill. At the conclusion of the measurement period, any subsequent adjustments are reflected in the unaudited condensed consolidated statements of operations. When the Company issues payments or grants of equity to selling stockholders in connection with an acquisition, the Company evaluates whether the payments or awards are compensatory. This evaluation includes whether cash payments or stock award vesting is contingent on the continued employment of the selling stockholder beyond the acquisition date. If continued employment is required for the cash to be paid or stock awards to vest, the award is treated as compensation for post-acquisition services and is recognized as compensation expense. Transaction costs associated with business combinations are expensed as incurred and are included in general and administrative expenses in the Company’s unaudited condensed consolidated statements of operations. |
Stock-Based Compensation | Stock-Based Compensation The Company measures equity instruments, including stock options, restricted stock units (RSUs), and shares of common stock to be issued under the 2019 Employee Stock Purchase Plan (ESPP) based on the estimated grant-date fair value of the award. The Company calculates the fair value of options and shares of common stock to be issued under ESPP using Black-Scholes-Merton option-pricing model The Company measures RSUs based on the fair market value of the Company’s common stock on the grant date. Prior to the IPO, the Company’s board of directors determined the fair value of its common stock using various valuation methodologies, including valuation analyses performed by third-party valuation firms. After the IPO, the Company uses the publicly quoted price as reported on the New York Stock Exchange as the fair value of its common stock. The RSUs that the Company has issued to date generally vest upon the satisfaction of both a service-based and a liquidity event-related performance vesting condition Certain RSUs, in addition to the satisfaction of the service-based and liquidity event-related performance vesting conditions, also require the fulfillment of a performance vesting condition which includes the achievement of certain subscription revenue growth targets. The service-based vesting period is generally between three and four years. The liquidity event-related performance vesting condition is satisfied on the earlier of (i) a change in control event or (ii) the completion of an initial public offering of common stock, or a specified time period thereafter. The liquidity condition was satisfied upon the completion of the IPO, and the Company recognized an expense of $23.1 million for RSUs that had met the service condition as of that date, using the accelerated recognition method. |
Recently Issued Accounting Pronouncements | Recently Issued Accounting Pronouncements In February 2016, the FASB issued ASU No. 2016-02, Leases, In August 2017, the FASB issued ASU 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities |
Description of Business and S_3
Description of Business and Summary of Significant Accounting Policies (Tables) | 6 Months Ended |
Jul. 31, 2019 | |
Accounting Policies [Abstract] | |
Summary of Revenue by Geographic Area | The following table sets forth revenue by geographic area for the periods presented (in thousands): Three Months Ended July 31, Six Months Ended July 31, 2019 2018 2019 2018 North America $ 71,887 $ 55,578 $ 143,334 $ 108,399 EMEA 16,050 14,467 31,333 27,367 Other 7,733 5,381 14,622 10,326 Total $ 95,670 $ 75,426 $ 189,289 $ 146,092 |
Cash Equivalents and Marketab_2
Cash Equivalents and Marketable Securities (Tables) | 6 Months Ended |
Jul. 31, 2019 | |
Cash And Cash Equivalents [Abstract] | |
Summary of Cash Equivalents and Marketable Securities | As of July 31, 2019, cash equivalents and marketable securities consisted of the following (in thousands): Amortized Cost Unrealized Gains Unrealized Losses Aggregate Fair Value Money market funds $ 18,226 $ — $ — $ 18,226 U.S. government and agency securities 200,974 32 — 201,006 Commercial paper 13,343 — — 13,343 Corporate notes and bonds 9,946 14 — 9,960 Total $ 242,489 $ 46 $ — $ 242,535 Included in cash and cash equivalents $ 189,517 $ — $ — $ 189,517 Included in marketable securities $ 52,972 $ 46 $ — $ 53,018 |
Fair Value of Assets and Liab_2
Fair Value of Assets and Liabilities (Tables) | 6 Months Ended |
Jul. 31, 2019 | |
Fair Value Disclosures [Abstract] | |
Fair Value of Assets and Liabilities Measured at Fair Value on a Recurring Basis | The following tables represents the fair value of assets and liabilities measured at fair value on a recurring basis using the above hierarchy (in thousands): July 31, 2019 January 31, 2019 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Assets: Cash equivalents: Money market funds $ 18,226 $ — $ — $ 18,226 $ 106 $ — $ — $ 106 Corporate notes and bonds — — — — Commercial paper — 9,453 — 9,453 — — — — U.S. government and agency securities — 161,838 — 161,838 — — — — Total cash equivalents 18,226 171,291 — 189,517 106 — — 106 Marketable securities: Corporate notes and bonds — 9,960 — 9,960 — — — — Commercial paper — 3,890 — 3,890 — — — — U.S. government and agency securities — 39,168 — 39,168 — — — — Total marketable securities — 53,018 — 53,018 — — — — Derivative assets (note 4) — 826 — 826 — 1,073 — 1,073 Total assets measured at fair value $ 18,226 $ 225,135 $ — $ 243,361 $ 106 $ 1,073 $ — $ 1,179 Liabilities: Derivative liabilities (note 4) $ — $ 1,642 $ — $ 1,642 $ — $ 673 $ — $ 673 Total liabilities measured at fair value $ — $ 1,642 $ — $ 1,642 $ — $ 673 $ — $ 673 |
Derivative Instruments (Tables)
Derivative Instruments (Tables) | 6 Months Ended |
Jul. 31, 2019 | |
Derivative Instruments And Hedging Activities Disclosure [Abstract] | |
Summary of Fair Values of Outstanding Derivative Instruments | The fair values of outstanding derivative instruments were as follows (in thousands): July 31, 2019 January 31, 2019 Derivative assets (recorded in prepaid expenses and other current assets): Foreign currency forward contracts designated as cash flow hedges $ 285 $ 621 Foreign currency forward contracts not designated as hedges 541 453 Derivative liabilities (recorded in accrued expenses and other current liabilities): Foreign currency forward contracts designated as cash flow hedges $ 789 $ 71 Foreign currency forward contracts not designated as hedges 853 602 |
Summary of Gains (Losses) Associated with Foreign Currency Forward Contracts Designated as Cash Flow Hedges | Gains (losses) associated with foreign currency forward contracts designated as cash flow hedges were as follows (in thousands): Condensed Consolidated Statements of Operations and Condensed Statements of Comprehensive Loss Locations Three Months Ended July 31, Six Months Ended, July 31, 2019 2018 2019 2018 Gains (losses) recognized in other comprehensive loss (effective portion) Change in unrealized gain (loss) on cash flow hedges, net of tax $ (467 ) $ (314 ) $ (610 ) $ 38 Gains (losses) reclassified from other comprehensive loss into income (effective portion) Revenues 115 (10 ) 219 (17 ) Gains (losses) reclassified from other comprehensive loss into income (effective portion) General and administrative (145 ) (188 ) (139 ) 184 Gains (losses) recognized in income (amount excluded from effectiveness testing and ineffective portion) Interest income and other income (expense), net (29 ) 7 (62 ) 16 |
Summary of Gains (Losses) Associated with Foreign Currency Forward Contracts Not Designated as Cash Flow Hedges | Gains (losses) associated with foreign currency forward contracts not designated as cash flow hedges were as follows (in thousands): Derivative Type Condensed Consolidated Statements of Operations Location Three Months Ended July 31, Six Months Ended, July 31, 2019 2018 2019 2018 Foreign currency forward contracts not designated as hedges Interest income and other income (expense), net $ 16 $ (151 ) $ (43 ) $ 87 |
Summary of Offsetting Arrangements | As of July 31, 2019, information related to offsetting arrangements were as follows (in thousands): Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets Gross Amounts of Recognized Assets Gross Amounts Offset in the Condensed Consolidated Balance Sheets Net Amounts of Assets in the Condensed Consolidated Balance Sheets Financial Instruments Cash Collateral Received Net Asset Exposed Derivative assets: Counterparty A $ 139 $ — $ 139 $ — $ — $ 139 Counterparty B 687 — 687 (687 ) — — Total $ 826 $ — $ 826 $ (687 ) $ — $ 139 Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets Gross Amounts of Recognized Liabilities Gross Amounts Offset in the Condensed Consolidated Balance Sheets Net Amounts of Liabilities in the Condensed Consolidated Balance Sheets Financial Instruments Cash Collateral Pledged Net Liabilities Exposed Derivative liabilities: Counterparty A $ — $ — $ — $ — $ — $ — Counterparty B 1,642 — 1,642 (687 ) — 955 Total $ 1,642 $ — $ 1,642 $ (687 ) $ — $ 955 As of January 31, 2019, information related to offsetting arrangements were as follows (in thousands): Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets Gross Amounts of Recognized Assets Gross Amounts Offset in the Condensed Consolidated Balance Sheets Net Amounts of Assets in the Condensed Consolidated Balance Sheets Financial Instruments Cash Collateral Received Net Asset Exposed Derivative assets: Counterparty A $ 297 $ — $ 297 $ — $ — $ 297 Counterparty B 776 — 776 (673 ) — 103 Total $ 1,073 $ — $ 1,073 $ (673 ) $ — $ 400 Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets Gross Amounts of Recognized Liabilities Gross Amounts Offset in the Condensed Consolidated Balance Sheets Net Amounts of Liabilities in the Condensed Consolidated Balance Sheets Financial Instruments Cash Collateral Pledged Net Liabilities Exposed Derivative liabilities: Counterparty A $ — $ — $ — $ — $ — $ — Counterparty B 673 — 673 (673 ) — — Total $ 673 $ — $ 673 $ (673 ) $ — $ — |
Balance Sheet Components (Table
Balance Sheet Components (Tables) | 6 Months Ended |
Jul. 31, 2019 | |
Balance Sheet Related Disclosures [Abstract] | |
Summary of Property and Equipment | The following table summarizes property and equipment which consists of the following (in thousands): July 31, January 31, 2019 2019 Computer equipment and software $ 46,055 $ 43,605 Furniture, fixtures and equipment 556 2,790 Leasehold improvements 4,284 23,645 Equipment acquired under capital leases 11,568 6,125 Construction-in-progress 78 3,804 Total property and equipment, gross 62,541 79,969 Less accumulated depreciation and amortization (37,499 ) (36,980 ) Property and equipment, net $ 25,042 $ 42,989 |
Summary of Accrued Compensation | The following table summarizes accrued compensation which consists of the following (in thousands): July 31, January 31, 2019 2019 Accrued salaries and bonus $ 8,094 $ 2,958 Accrued commissions 7,486 10,215 Accrued vacation 3,878 4,013 Payroll taxes 2,591 2,522 Accrued compensation $ 22,049 $ 19,708 |
Business Combinations (Tables)
Business Combinations (Tables) | 6 Months Ended |
Jul. 31, 2019 | |
Business Combinations [Abstract] | |
Schedule of Acquisition Consideration and Related Fair Values of Assets Acquired and Liabilities Assumed | The following table summarizes the acquisition consideration and the related fair values of the assets acquired and liabilities assumed (in thousands): Strikedeck Cooladata Promoter.io Amount Useful Life Amount Useful Life Amount Useful Life Net (liabilities) assumed $ (305 ) $ (2,784 ) $ (397 ) Intangibles Developed technology 4,000 5 years 4,600 5 years 700 5 years Trademarks 200 5 years Goodwill 6,803 5,530 1,191 Total purchase price, net of cash acquired $ 10,498 $ 7,346 $ 1,694 |
Goodwill And Intangible Asset_2
Goodwill And Intangible Assets, Net (Tables) | 6 Months Ended |
Jul. 31, 2019 | |
Goodwill And Intangible Assets Disclosure [Abstract] | |
Schedule of Changes in the Carrying Value of Goodwill | The changes in the carrying value of goodwill are as follows (in thousands): Goodwill Balance as of January 31, 2019 $ 16,745 Acquisitions of Strikedeck, Cooladata, and Promoter.io 13,524 Balance as of July 31, 2019 $ 30,269 |
Schedule of Carrying Amount of Intangible Asset, Net | The carrying amount of intangible assets, net was as follows (in thousands): January 31, Intangibles Accumulated July 31, Weighted Average Remaining Useful Life 2019 acquired Amortization 2019 Years Developed technology $ 1,900 $ 9,300 $ (1,959 ) $ 9,241 5 Trademarks — 200 (2 ) 198 5 $ 1,900 $ 9,500 $ (1,961 ) $ 9,439 |
Estimated Aggregate Future Amortization Expense of Intangible Assets | The estimated aggregate future amortization expense of intangible assets as of July 31, 2019 is as follows (stated in thousands): Remainder of 2020 $ 1,035 2021 2,043 2022 1,905 2023 1,905 2024 1,905 Thereafter 646 Total $ 9,439 |
Equity Incentive Plans (Tables)
Equity Incentive Plans (Tables) | 6 Months Ended |
Jul. 31, 2019 | |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | |
Summary of Stock-based Compensation Expense by Equity Type | Error extracting Word contentError extracting Word content |
Schedule of 2019 Plan Activity | The Plan activity is as follows: Six Months Ended July 31, 2019 2018 Opening balance 4,023,140 3,725,180 Shares authorized 24,000,000 5,000,000 Options and RSUs granted (7,016,256 ) (9,324,211 ) Cancelled shares 1,884,668 2,117,042 Ending balance 22,891,552 1,518,011 |
Summary of Stock-based Compensation Expense by Classification in Condensed Consolidated Statements of Operations | The stock-based compensation expense by line item in the unaudited condensed consolidated statements of operations is summarized as follows (in thousands): Three Months Ended July 31, Six Months Ended July 31, 2019 2018 2019 2018 Cost of subscription revenue $ 869 $ 321 $ 1,156 $ 600 Cost of professional services revenue 2,690 719 3,247 1,242 Research and development expense 3,658 1,755 5,241 4,180 Sales and marketing expense 8,475 1,909 9,968 3,440 General and administrative expense 19,487 1,780 23,529 3,659 Total stock-based compensation $ 35,179 $ 6,484 $ 43,141 $ 13,121 |
Schedule of Estimated Fair Value of Stock Option Granted to Employees | The fair value of each stock option granted to employees was estimated at the date of grant using the Black-Scholes-Merton option-pricing model with the following assumptions. The Company did not issue any options during the three months ended July 31, 2019: Three Months Ended July 31, Six Months Ended July 31, 2019 2018 2019 2018 Risk-free interest rate — 2.8% - 2.9% 2.5% 2.5% - 2.9% Expected volatility — 40% - 42% 41% 40% - 44% Expected term (in years) — 5.50 - 6.69 5.85 5.50 - 6.69 Expected dividend rate — — — — |
Summary of Stock Option Activity | The following table summarizes the option activity: Options Outstanding Weighted Average Average Aggregate Exercise Remaining Intrinsic Number of Price per Contractual Value Shares Share Term (years) (in thousands) Balance as of January 31, 2019 52,797,213 $ 5.27 8.12 $ 388,631 Options granted 478,278 12.63 13,752 Options exercised (3,259,840 ) 3.97 Options cancelled or expired (1,745,103 ) 6.17 Balance as of July 31, 2019 48,270,548 $ 5.40 7.70 $ 1,663,031 Exercisable at July 31, 2019 22,784,604 $ 4.22 6.44 $ 811,614 |
Summary of Restricted Stock Unit Activity | The following table summarizes the restricted stock unit activity: Restricted Stock Units Performance Restricted Stock Units Number of Shares Weighted Average Grant Date Fair Value Number of Shares Weighted Average Grant Date Fair Value Balance as of January 31, 2019 3,155,197 $ 6.29 — $ — Shares granted 5,637,399 13.85 900,579 13.91 Shares cancelled and expired (139,565 ) 13.44 — — Balance as of July 31, 2019 8,653,031 $ 11.05 900,579 $ 13.91 |
Schedule of Estimated Fair Value of ESPP Share | The fair value of each ESPP share is estimated on the enrollment date of the offering period using the Black-Scholes-Merton option-pricing model and the assumptions noted in the following table: July 31, 2019 Risk-free interest rate 1.9 % Expected volatility 38 % Expected term (in years) 0.65 Expected dividend rate — |
Net Loss Per Share Attributab_2
Net Loss Per Share Attributable to Common Stockholders (Tables) | 6 Months Ended |
Jul. 31, 2019 | |
Earnings Per Share [Abstract] | |
Schedule of Basic and Diluted Net Loss Per Share Attributable to Common Stockholders | The following table sets forth the computation of basic and diluted net loss per share attributable to common stockholders: Three Months Ended July 31, Six Months Ended July 31, 2019 2018 2019 2018 Numerator: Net Loss $ (38,284 ) $ (28,147 ) $ (40,843 ) $ (55,675 ) Denominator: Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted 43,986 25,970 37,248 25,345 Net loss per share attributable to common stockholders, basic and diluted $ (0.87 ) $ (1.08 ) $ (1.10 ) $ (2.20 ) |
Schedule of Potential Shares of Common Stock Equivalents Excluded From Computation of Diluted Net Loss Per Share Attributable to Common Stockholders | The potential shares of common stock that were exclude from the computation of diluted net loss per share attributable to common stockholders for the periods presented because including them would have been antidilutive are as follows: Three Months Ended July 31, Six Months Ended July 31, 2019 2018 2019 2018 Convertible preferred stock — 72,395 — 72,395 Stock options 48,271 44,509 48,271 44,509 Restricted stock units 9,554 — 9,554 — ESPP 683 — 683 — Common stock warrant — 75 — 75 Convertible Preferred stock warrant 56 56 56 56 Unvested early exercises subject to repurchase 28 248 28 248 Total 58,592 117,283 58,592 117,283 |
Description of Business and S_4
Description of Business and Summary of Significant Accounting Policies - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands | 1 Months Ended | 3 Months Ended | 6 Months Ended | |||
Jul. 31, 2019 | Jul. 31, 2019 | Jul. 31, 2018 | Jul. 31, 2019 | Jul. 31, 2018 | Jan. 31, 2019 | |
Description Of Business And Summary Of Significant Accounting Policies [Line Items] | ||||||
Deferred offering costs | $ 7,100 | $ 7,100 | $ 7,100 | |||
Revenue recognized | 83,400 | $ 62,000 | 139,800 | $ 106,200 | ||
Commissions earned and capitalized | 9,100 | 3,500 | 15,800 | 6,600 | ||
Amortization of deferred commissions | 4,500 | 3,100 | 8,687 | 6,127 | ||
Stock-based compensation expense | $ 35,179 | $ 6,484 | 43,141 | $ 13,121 | ||
Restricted Stock Units | ||||||
Description Of Business And Summary Of Significant Accounting Policies [Line Items] | ||||||
Stock-based compensation expense | $ 23,100 | |||||
Revenue | Geographic Concentration Risk | United States | ||||||
Description Of Business And Summary Of Significant Accounting Policies [Line Items] | ||||||
Revenue percentage | 72.00% | 70.00% | 72.00% | 70.00% | ||
Trade and Other Receivables | ||||||
Description Of Business And Summary Of Significant Accounting Policies [Line Items] | ||||||
Contract assets | $ 800 | $ 800 | $ 800 | $ 2,500 | ||
Minimum | ||||||
Description Of Business And Summary Of Significant Accounting Policies [Line Items] | ||||||
Subscription contract term | 1 year | |||||
Stock-based compensation award expense service period | 3 years | |||||
Maximum | ||||||
Description Of Business And Summary Of Significant Accounting Policies [Line Items] | ||||||
Subscription contract term | 3 years | |||||
Measurement period | 1 year | |||||
Stock-based compensation award expense service period | 4 years | |||||
Common Stock | ||||||
Description Of Business And Summary Of Significant Accounting Policies [Line Items] | ||||||
Conversion of common stock, shares | 31,129,701 | 31,129,701 | 31,129,701 | |||
Proceeds from issuance of common stock | $ 13,000 | |||||
Common Stock | IPO | ||||||
Description Of Business And Summary Of Significant Accounting Policies [Line Items] | ||||||
Shares of common stock sold | 16,060,000 | |||||
Shares issued price per share | $ 21 | $ 21 | $ 21 | |||
Net proceeds from initial public offering | $ 313,700 | |||||
Number of convertible preferred stock converted into common stock | 77,149,275 | 77,149,275 | 77,149,275 | |||
Common Stock | Private Placement | ||||||
Description Of Business And Summary Of Significant Accounting Policies [Line Items] | ||||||
Shares of common stock sold | 620,000 | |||||
Shares issued price per share | $ 21 | $ 21 | $ 21 | |||
Preferred Stock | IPO | ||||||
Description Of Business And Summary Of Significant Accounting Policies [Line Items] | ||||||
Warrants to purchase preferred stock converted into warrant to purchase of common stock | 75,000 | 75,000 | 75,000 |
Description of Business and S_5
Description of Business and Summary of Significant Accounting Policies - Additional Information (Details1) - USD ($) $ in Millions | Jul. 31, 2019 | Jan. 31, 2019 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2019-02-01 | ||
Disaggregation Of Revenue [Line Items] | ||
Revenue remaining performance obligation amount | $ 470.6 | |
Revenue remaining performance obligation percentage | 56.00% | |
Revenue remaining performance obligation expected timing of satisfaction period | 12 months | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2019-08-01 | ||
Disaggregation Of Revenue [Line Items] | ||
Revenue remaining performance obligation amount | $ 547.6 | |
Revenue remaining performance obligation percentage | 52.00% | |
Revenue remaining performance obligation expected timing of satisfaction period | 12 months |
Description of Business and S_6
Description of Business and Summary of Significant Accounting Policies - Summary of Revenue by Geographic Area (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jul. 31, 2019 | Jul. 31, 2018 | Jul. 31, 2019 | Jul. 31, 2018 | |
Description Of Business And Summary Of Significant Accounting Policies [Line Items] | ||||
Total revenue | $ 95,670 | $ 75,426 | $ 189,289 | $ 146,092 |
North America | ||||
Description Of Business And Summary Of Significant Accounting Policies [Line Items] | ||||
Total revenue | 71,887 | 55,578 | 143,334 | 108,399 |
EMEA | ||||
Description Of Business And Summary Of Significant Accounting Policies [Line Items] | ||||
Total revenue | 16,050 | 14,467 | 31,333 | 27,367 |
Other | ||||
Description Of Business And Summary Of Significant Accounting Policies [Line Items] | ||||
Total revenue | $ 7,733 | $ 5,381 | $ 14,622 | $ 10,326 |
Cash Equivalents and Marketab_3
Cash Equivalents and Marketable Securities - Summary of Cash Equivalents and Marketable Securities (Details) $ in Thousands | Jul. 31, 2019USD ($) |
Cash And Cash Equivalents And Marketable Securities [Line Items] | |
Amortized Cost | $ 242,489 |
Unrealized Gains | 46 |
Aggregate Fair Value | 242,535 |
Amortized Cost, cash and cash equivalents | 189,517 |
Aggregate Fair Value, cash and cash equivalents | 189,517 |
Amortized Cost, marketable securities | 52,972 |
Unrealized Gains, marketable securities | 46 |
Aggregate Fair Value, marketable securities | 53,018 |
Money Market Funds | |
Cash And Cash Equivalents And Marketable Securities [Line Items] | |
Amortized Cost | 18,226 |
Aggregate Fair Value | 18,226 |
U.S. Government and Agency Securities | |
Cash And Cash Equivalents And Marketable Securities [Line Items] | |
Amortized Cost | 200,974 |
Unrealized Gains | 32 |
Aggregate Fair Value | 201,006 |
Commercial Paper | |
Cash And Cash Equivalents And Marketable Securities [Line Items] | |
Amortized Cost | 13,343 |
Aggregate Fair Value | 13,343 |
Corporate Notes and Bonds | |
Cash And Cash Equivalents And Marketable Securities [Line Items] | |
Amortized Cost | 9,946 |
Unrealized Gains | 14 |
Aggregate Fair Value | $ 9,960 |
Cash Equivalents and Marketab_4
Cash Equivalents and Marketable Securities - Additional Information (Details) | Jan. 31, 2019USD ($) |
Cash And Cash Equivalents And Marketable Securities [Line Items] | |
Marketable securities | $ 0 |
U.S. Government Treasury Bills | |
Cash And Cash Equivalents And Marketable Securities [Line Items] | |
Cash equivalents | $ 100,000 |
Fair Value of Assets and Liab_3
Fair Value of Assets and Liabilities - Fair Value of Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands | Jul. 31, 2019 | Jan. 31, 2019 |
Assets: | ||
Aggregate Fair Value, cash and cash equivalents | $ 189,517 | |
Marketable securities | 53,018 | |
Derivative assets | 826 | $ 1,073 |
Liabilities: | ||
Derivative liabilities | 1,642 | 673 |
Fair Value, Recurring | ||
Assets: | ||
Aggregate Fair Value, cash and cash equivalents | 189,517 | 106 |
Marketable securities | 53,018 | |
Derivative assets | 826 | 1,073 |
Total assets measured at fair value | 243,361 | 1,179 |
Liabilities: | ||
Derivative liabilities | 1,642 | 673 |
Total liabilities measured at fair value | 1,642 | 673 |
Fair Value, Recurring | Level 1 | ||
Assets: | ||
Aggregate Fair Value, cash and cash equivalents | 18,226 | 106 |
Total assets measured at fair value | 18,226 | 106 |
Fair Value, Recurring | Level 2 | ||
Assets: | ||
Aggregate Fair Value, cash and cash equivalents | 171,291 | |
Marketable securities | 53,018 | |
Derivative assets | 826 | 1,073 |
Total assets measured at fair value | 225,135 | 1,073 |
Liabilities: | ||
Derivative liabilities | 1,642 | 673 |
Total liabilities measured at fair value | 1,642 | 673 |
Fair Value, Recurring | Money Market Funds | ||
Assets: | ||
Aggregate Fair Value, cash and cash equivalents | 18,226 | 106 |
Fair Value, Recurring | Money Market Funds | Level 1 | ||
Assets: | ||
Aggregate Fair Value, cash and cash equivalents | 18,226 | $ 106 |
Fair Value, Recurring | Corporate Notes and Bonds | ||
Assets: | ||
Marketable securities | 9,960 | |
Fair Value, Recurring | Corporate Notes and Bonds | Level 2 | ||
Assets: | ||
Marketable securities | 9,960 | |
Fair Value, Recurring | Commercial Paper | ||
Assets: | ||
Aggregate Fair Value, cash and cash equivalents | 9,453 | |
Marketable securities | 3,890 | |
Fair Value, Recurring | Commercial Paper | Level 2 | ||
Assets: | ||
Aggregate Fair Value, cash and cash equivalents | 9,453 | |
Marketable securities | 3,890 | |
Fair Value, Recurring | U.S. Government and Agency Securities | ||
Assets: | ||
Aggregate Fair Value, cash and cash equivalents | 161,838 | |
Marketable securities | 39,168 | |
Fair Value, Recurring | U.S. Government and Agency Securities | Level 2 | ||
Assets: | ||
Aggregate Fair Value, cash and cash equivalents | 161,838 | |
Marketable securities | $ 39,168 |
Derivative Instruments - Additi
Derivative Instruments - Additional Information (Details) - Foreign Currency Forward Contracts - USD ($) | 6 Months Ended | |
Jul. 31, 2019 | Jan. 31, 2019 | |
Designated as Hedging Instrument | ||
Derivative Instruments Gain Loss [Line Items] | ||
Gains (losses) recognized in other comprehensive loss for the effective portion to be reclassified during next 12 Months | $ 100,000 | $ (500,000) |
Designated as Hedging Instrument | Cash Flow Hedging | ||
Derivative Instruments Gain Loss [Line Items] | ||
Derivative instrument, notional value | $ 9,400,000 | 9,900,000 |
Designated as Hedging Instrument | Cash Flow Hedging | Maximum | ||
Derivative Instruments Gain Loss [Line Items] | ||
Derivative instrument, maturity term | 13 months | |
Not Designated as Hedging Instrument | ||
Derivative Instruments Gain Loss [Line Items] | ||
Derivative instrument, notional value | $ 12,000,000 | $ 2,500,000 |
Not Designated as Hedging Instrument | Maximum | ||
Derivative Instruments Gain Loss [Line Items] | ||
Derivative instrument, maturity term | 13 months |
Derivative Instruments - Summar
Derivative Instruments - Summary of Fair Values of Outstanding Derivative Instruments (Details) - USD ($) $ in Thousands | Jul. 31, 2019 | Jan. 31, 2019 |
Derivative assets (recorded in prepaid expenses and other current assets): | ||
Derivative assets | $ 826 | $ 1,073 |
Derivative liabilities (recorded in accrued expenses and other current liabilities): | ||
Derivative liabilities | 1,642 | 673 |
Foreign Currency Forward Contracts | Designated as Hedging Instrument | Cash Flow Hedging | Prepaid Expenses and Other Current Assets | ||
Derivative assets (recorded in prepaid expenses and other current assets): | ||
Derivative assets | 285 | 621 |
Foreign Currency Forward Contracts | Designated as Hedging Instrument | Cash Flow Hedging | Accrued Expenses and Other Current Liabilities | ||
Derivative liabilities (recorded in accrued expenses and other current liabilities): | ||
Derivative liabilities | 789 | 71 |
Foreign Currency Forward Contracts | Not Designated as Hedging Instrument | Prepaid Expenses and Other Current Assets | ||
Derivative assets (recorded in prepaid expenses and other current assets): | ||
Derivative assets | 541 | 453 |
Foreign Currency Forward Contracts | Not Designated as Hedging Instrument | Accrued Expenses and Other Current Liabilities | ||
Derivative liabilities (recorded in accrued expenses and other current liabilities): | ||
Derivative liabilities | $ 853 | $ 602 |
Derivative Instruments - Summ_2
Derivative Instruments - Summary of Gains (Losses) Associated with Foreign Currency Forward Contracts Designated as Cash Flow Hedges (Details) - Foreign Currency Forward Contracts - Designated as Hedging Instrument - Cash Flow Hedging - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jul. 31, 2019 | Jul. 31, 2018 | Jul. 31, 2019 | Jul. 31, 2018 | |
Revenues | ||||
Derivative Instruments Gain Loss [Line Items] | ||||
Gains (losses) reclassified from other comprehensive loss into income (effective portion) | $ 115 | $ (10) | $ 219 | $ (17) |
General and Administrative | ||||
Derivative Instruments Gain Loss [Line Items] | ||||
Gains (losses) reclassified from other comprehensive loss into income (effective portion) | (145) | (188) | (139) | 184 |
Interest Income and Other Income (Expense), Net | ||||
Derivative Instruments Gain Loss [Line Items] | ||||
Gains (losses) recognized in income (amount excluded from effectiveness testing and ineffective portion) | (29) | 7 | (62) | 16 |
Change in Unrealized Gain (Loss) on Cash Flow Hedges, Net of Tax | ||||
Derivative Instruments Gain Loss [Line Items] | ||||
Gains (losses) recognized in other comprehensive loss (effective portion) | $ (467) | $ (314) | $ (610) | $ 38 |
Derivative Instruments - Summ_3
Derivative Instruments - Summary of Gains (Losses) Associated with Foreign Currency Forward Contracts Not Designated as Cash Flow Hedges (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jul. 31, 2019 | Jul. 31, 2018 | Jul. 31, 2019 | Jul. 31, 2018 | |
Foreign Currency Forward Contracts | Interest Income and Other Income (Expense), Net | Cash Flow Hedging | ||||
Derivative Instruments Gain Loss [Line Items] | ||||
Gains (losses) associated with foreign currency forward contracts not designated as cash flow hedges | $ 16 | $ (151) | $ (43) | $ 87 |
Derivative Instruments - Summ_4
Derivative Instruments - Summary of Offsetting Arrangements (Details) - USD ($) $ in Thousands | Jul. 31, 2019 | Jan. 31, 2019 |
Offsetting Assets and Liabilities [Line Items] | ||
Gross Amounts of Recognized Assets | $ 826 | $ 1,073 |
Net Amounts of Assets in the Condensed Consolidated Balance Sheets | 826 | 1,073 |
Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets, Financial Instruments | (687) | (673) |
Net Asset Exposed | 139 | 400 |
Gross Amounts of Recognized Liabilities | 1,642 | 673 |
Net Amounts of Liabilities in the Condensed Consolidated Balance Sheets | 1,642 | 673 |
Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets, Financial Instruments | (687) | (673) |
Net Liabilities Exposed | 955 | |
Counterparty A | ||
Offsetting Assets and Liabilities [Line Items] | ||
Gross Amounts of Recognized Assets | 139 | 297 |
Net Amounts of Assets in the Condensed Consolidated Balance Sheets | 139 | 297 |
Net Asset Exposed | 139 | 297 |
Counterparty B | ||
Offsetting Assets and Liabilities [Line Items] | ||
Gross Amounts of Recognized Assets | 687 | 776 |
Net Amounts of Assets in the Condensed Consolidated Balance Sheets | 687 | 776 |
Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets, Financial Instruments | (687) | (673) |
Net Asset Exposed | 103 | |
Gross Amounts of Recognized Liabilities | 1,642 | 673 |
Net Amounts of Liabilities in the Condensed Consolidated Balance Sheets | 1,642 | 673 |
Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets, Financial Instruments | (687) | $ (673) |
Net Liabilities Exposed | $ 955 |
Balance Sheet Components - Summ
Balance Sheet Components - Summary of Property and Equipment (Details) - USD ($) $ in Thousands | Jul. 31, 2019 | Jan. 31, 2019 |
Property Plant And Equipment [Line Items] | ||
Total property and equipment, gross | $ 62,541 | $ 79,969 |
Less accumulated depreciation and amortization | (37,499) | (36,980) |
Property and equipment, net | 25,042 | 42,989 |
Computer Equipment and Software | ||
Property Plant And Equipment [Line Items] | ||
Total property and equipment, gross | 46,055 | 43,605 |
Furniture, Fixtures and Equipment | ||
Property Plant And Equipment [Line Items] | ||
Total property and equipment, gross | 556 | 2,790 |
Leasehold Improvements | ||
Property Plant And Equipment [Line Items] | ||
Total property and equipment, gross | 4,284 | 23,645 |
Equipment Acquired under Capital Leases | ||
Property Plant And Equipment [Line Items] | ||
Total property and equipment, gross | 11,568 | 6,125 |
Construction-in-Progress | ||
Property Plant And Equipment [Line Items] | ||
Total property and equipment, gross | $ 78 | $ 3,804 |
Balance Sheet Components - Addi
Balance Sheet Components - Additional Information (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jul. 31, 2019 | Jul. 31, 2018 | Jul. 31, 2019 | Jul. 31, 2018 | |
Property Plant And Equipment [Line Items] | ||||
Depreciation and amortization expense | $ 3.5 | $ 3.2 | $ 6.7 | $ 6.7 |
Gain on termination of lease | 4 | |||
Gain on reversal of deferred rent | 34.5 | |||
Impairment of property and equipment | 20.7 | |||
Cash payments associated with termination and other fees | 9.8 | |||
Assets under Capital Leases | ||||
Property Plant And Equipment [Line Items] | ||||
Depreciation and amortization expense | $ 1 | $ 0.1 | $ 1.6 | $ 0.1 |
Balance Sheet Components - Su_2
Balance Sheet Components - Summary of Accrued Compensation (Details) - USD ($) $ in Thousands | Jul. 31, 2019 | Jan. 31, 2019 |
Balance Sheet Related Disclosures [Abstract] | ||
Accrued salaries and bonus | $ 8,094 | $ 2,958 |
Accrued commissions | 7,486 | 10,215 |
Accrued vacation | 3,878 | 4,013 |
Payroll taxes | 2,591 | 2,522 |
Accrued compensation | $ 22,049 | $ 19,708 |
Business Combinations - Additio
Business Combinations - Additional Information (Details) - USD ($) $ in Millions | Jul. 15, 2019 | Jun. 17, 2019 | May 16, 2019 |
Strikedeck Inc. | |||
Business Acquisition [Line Items] | |||
Purchase consideration | $ 11 | ||
Cooladata Ltd. | |||
Business Acquisition [Line Items] | |||
Purchase consideration | $ 7.6 | ||
Promoter.io Inc. | |||
Business Acquisition [Line Items] | |||
Purchase consideration | $ 2.3 |
Business Combinations - Schedul
Business Combinations - Schedule of Acquisition Consideration and Related Fair Values of Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands | 6 Months Ended | |
Jul. 31, 2019 | Jan. 31, 2019 | |
Business Acquisition [Line Items] | ||
Goodwill | $ 30,269 | $ 16,745 |
Strikedeck | ||
Business Acquisition [Line Items] | ||
Net (liabilities) assumed | (305) | |
Goodwill | 6,803 | |
Total purchase price, net of cash acquired | 10,498 | |
Strikedeck | Developed Technology | ||
Business Acquisition [Line Items] | ||
Intangibles | $ 4,000 | |
Weighted average remaining useful life | 5 years | |
Cooladata | ||
Business Acquisition [Line Items] | ||
Net (liabilities) assumed | $ (2,784) | |
Goodwill | 5,530 | |
Total purchase price, net of cash acquired | 7,346 | |
Cooladata | Developed Technology | ||
Business Acquisition [Line Items] | ||
Intangibles | $ 4,600 | |
Weighted average remaining useful life | 5 years | |
Promoter.io | ||
Business Acquisition [Line Items] | ||
Net (liabilities) assumed | $ (397) | |
Goodwill | 1,191 | |
Total purchase price, net of cash acquired | 1,694 | |
Promoter.io | Developed Technology | ||
Business Acquisition [Line Items] | ||
Intangibles | $ 700 | |
Weighted average remaining useful life | 5 years | |
Promoter.io | Trademarks | ||
Business Acquisition [Line Items] | ||
Intangibles | $ 200 | |
Weighted average remaining useful life | 5 years |
Goodwill and Intangible Asset_3
Goodwill and Intangible Assets, Net - Schedule of Changes in the Carrying Value of Goodwill (Details) $ in Thousands | 6 Months Ended |
Jul. 31, 2019USD ($) | |
Goodwill And Intangible Assets Disclosure [Abstract] | |
Balance as of January 31, 2019 | $ 16,745 |
Acquisitions of Strikedeck, Cooladata, and Promoter.io | 13,524 |
Balance as of July 31, 2019 | $ 30,269 |
Goodwill and Intangible Asset_4
Goodwill and Intangible Assets, Net - Schedule of Carrying Amount of Intangible Asset, Net (Details) - USD ($) $ in Thousands | 6 Months Ended | |
Jul. 31, 2019 | Jan. 31, 2019 | |
Finite Lived Intangible Assets [Line Items] | ||
Intangible assets gross | $ 1,900 | |
Intangibles acquired | $ 9,500 | |
Accumulated Amortization | (1,961) | |
Intangible assets net | 9,439 | |
Developed Technology | ||
Finite Lived Intangible Assets [Line Items] | ||
Intangible assets gross | $ 1,900 | |
Intangibles acquired | 9,300 | |
Accumulated Amortization | (1,959) | |
Intangible assets net | $ 9,241 | |
Weighted Average Remaining Useful Life | 5 years | |
Trademarks | ||
Finite Lived Intangible Assets [Line Items] | ||
Intangibles acquired | $ 200 | |
Accumulated Amortization | (2) | |
Intangible assets net | $ 198 | |
Weighted Average Remaining Useful Life | 5 years |
Goodwill and Intangible Asset_5
Goodwill and Intangible Assets, Net - Additional Information (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jul. 31, 2019 | Jul. 31, 2018 | Jul. 31, 2019 | Jul. 31, 2018 | |
Finite Lived Intangible Assets [Line Items] | ||||
Amortization expense | $ 0.3 | $ 0.1 | $ 0.4 | $ 0.3 |
Developed Technology | ||||
Finite Lived Intangible Assets [Line Items] | ||||
Intangible asset, useful life | 5 years | |||
Trademarks | ||||
Finite Lived Intangible Assets [Line Items] | ||||
Intangible asset, useful life | 5 years |
Goodwill and Intangible Asset_6
Goodwill and Intangible Assets, Net - Estimated Aggregate Future Amortization Expense of Intangible Assets (Details) $ in Thousands | Jul. 31, 2019USD ($) |
Goodwill And Intangible Assets Disclosure [Abstract] | |
Remainder of 2020 | $ 1,035 |
2021 | 2,043 |
2022 | 1,905 |
2023 | 1,905 |
2024 | 1,905 |
Thereafter | 646 |
Total | $ 9,439 |
Commitments and Contingencies -
Commitments and Contingencies - Additional Information (Details) - USD ($) | 3 Months Ended | 6 Months Ended |
Jan. 31, 2019 | Jul. 31, 2019 | |
Term-Out Loan | ||
Loss Contingencies [Line Items] | ||
Line of credit, maturity date description | The maturity date is the earlier of (i) 48 months after such Term-Out Loan was made and (ii) September 2023. | |
Revolving Line of Credit | ||
Loss Contingencies [Line Items] | ||
Line of credit, maturity date | Sep. 30, 2020 | Sep. 30, 2020 |
Line of credit, aggregate borrowing amount | $ 50,000,000 | $ 50,000,000 |
Line of credit, available borrowing amount | 39,500,000 | 46,300,000 |
Revolving Line of Credit | Debt Convertible At Company Option | ||
Loss Contingencies [Line Items] | ||
Line of credit, aggregate borrowing amount | 15,000,000 | $ 15,000,000 |
Revolving Line of Credit and Term-Out Loan | ||
Loss Contingencies [Line Items] | ||
Interest rate description | The applicable interest rate for borrowings under the revolving line of credit and the Term-Out Loan are determined as follows: for borrowings less than $5.0 million, the interest rate is based on the Wall Street Journal’s Prime Rate plus a 0.5% margin. For borrowings greater than or equal to $5.0 million, but less than $10.0 million, the interest rate is based on the Wall Street Journal’s Prime Rate. For borrowings greater or equal to $10.0 million, the interest rate is based on the Wall Street Journal’s Prime Rate minus a 0.5% applicable margin. | |
Revolving Line of Credit and Term-Out Loan | Prime Rate | Borrowings Less Than $5.0 Million | ||
Loss Contingencies [Line Items] | ||
Interest rate | 0.50% | |
Revolving Line of Credit and Term-Out Loan | Prime Rate | Borrowings Greater or Equal to $10.0 Million | ||
Loss Contingencies [Line Items] | ||
Interest rate | 0.50% | |
Standby Letters of Credit | Office Lease Facilities | ||
Loss Contingencies [Line Items] | ||
Letters of credit outstanding | $ 10,500,000 | $ 3,700,000 |
Income Taxes - Additional Infor
Income Taxes - Additional Information (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jul. 31, 2019 | Jul. 31, 2018 | Jul. 31, 2019 | Jul. 31, 2018 | |
Income Taxes [Line Items] | ||||
Provision for income taxes | $ 263 | $ 732 | $ 919 | $ 1,048 |
Strikedeck Inc. | ||||
Income Taxes [Line Items] | ||||
Benefit related reduction of valuation allowance | $ 400 | $ 400 |
Equity Incentive Plans - Additi
Equity Incentive Plans - Additional Information (Details) $ / shares in Units, $ in Millions | Jul. 17, 2019Period | Jun. 30, 2019shares | Dec. 31, 2017shares | Jul. 31, 2019USD ($)$ / sharesshares | Jul. 31, 2019USD ($)$ / sharesshares | Jul. 31, 2018shares | Jan. 31, 2019shares |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||||||
Number of stock options granted | 478,278 | ||||||
Stock Options | |||||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||||||
Number of stock options granted | 0 | ||||||
Weighted-average grant-date fair value of options granted | $ / shares | $ 5.38 | ||||||
Unrecognized compensation expense | $ | $ 63.4 | $ 63.4 | |||||
Weighted-average remaining recognition period | 2 years 9 months 18 days | ||||||
Grant date fair value of stock options vested | $ | $ 13.4 | ||||||
RSUs, including Performance Restricted Stock Units | |||||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||||||
Weighted-average remaining recognition period | 3 years 9 months 18 days | ||||||
Unrecognized compensation expense | $ | 77.4 | $ 77.4 | |||||
2017 Equity Incentive Plan | |||||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||||||
Initial share reserve of common stock | 3,000,000 | ||||||
Increase in number of common stock reserved for future issuance | 5,000,000 | ||||||
2017 Equity Incentive Plan | Scenario Forecast | |||||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||||||
Increase in number of common stock reserved for future issuance | 22,000,000 | ||||||
2017 Equity Incentive Plan | Stock Options | Minimum | |||||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||||||
Award vesting period | 3 years | ||||||
2017 Equity Incentive Plan | Stock Options | Maximum | |||||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||||||
Award vesting period | 4 years | ||||||
2017 Equity Incentive Plan | Restricted Stock Units | Minimum | |||||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||||||
Award vesting period | 3 years | ||||||
2017 Equity Incentive Plan | Restricted Stock Units | Maximum | |||||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||||||
Award vesting period | 4 years | ||||||
2019 Equity Incentive Plan | |||||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||||||
Initial share reserve of common stock | 19,000,000 | ||||||
Increase in number of common stock reserved for future issuance | 24,000,000 | 5,000,000 | |||||
2019 Equity Incentive Plan | Stock Options | Minimum | |||||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||||||
Award vesting period | 3 years | ||||||
2019 Equity Incentive Plan | Stock Options | Maximum | |||||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||||||
Award vesting period | 4 years | ||||||
2019 Equity Incentive Plan | Restricted Stock Units | Minimum | |||||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||||||
Award vesting period | 3 years | ||||||
2019 Equity Incentive Plan | Restricted Stock Units | Maximum | |||||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||||||
Award vesting period | 4 years | ||||||
Employee Stock Purchase Plan | |||||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||||||
Initial share reserve of common stock | 4,000,000 | ||||||
Offering period | 6 months | ||||||
Purchase period | 6 months | ||||||
First purchase period post IPO | 8 months | ||||||
Number of purchase periods | Period | 1 | ||||||
Purchase price of common stock purchased, percentage | 85.00% | ||||||
Weighted-average remaining recognition period | 7 months 6 days | ||||||
Unrecognized compensation expense | $ | $ 3.7 | $ 3.7 | |||||
Fair value of stock purchase rights granted | $ / shares | $ 5.78 | $ 5.78 |
Equity Incentive Plans - Schedu
Equity Incentive Plans - Schedule of 2019 Plan Activity (Details) - 2019 Equity Incentive Plan - shares | 6 Months Ended | 12 Months Ended | |
Jul. 31, 2019 | Jul. 31, 2018 | Jan. 31, 2019 | |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||
Opening balance | 4,023,140 | 3,725,180 | 3,725,180 |
Shares authorized | 24,000,000 | 5,000,000 | |
Options and RSUs granted | (7,016,256) | (9,324,211) | |
Cancelled shares | 1,884,668 | 2,117,042 | |
Ending balance | 22,891,552 | 1,518,011 | 4,023,140 |
Equity Incentive Plans - Summar
Equity Incentive Plans - Summary of Stock-based Compensation Expense by Classification in Unaudited Condensed Consolidated Statements of Operations (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jul. 31, 2019 | Jul. 31, 2018 | Jul. 31, 2019 | Jul. 31, 2018 | |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||
Total stock-based compensation | $ 35,179 | $ 6,484 | $ 43,141 | $ 13,121 |
Cost of Revenue | Subscription | ||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||
Total stock-based compensation | 869 | 321 | 1,156 | 600 |
Cost of Revenue | Professional Services | ||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||
Total stock-based compensation | 2,690 | 719 | 3,247 | 1,242 |
Research and Development Expense | ||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||
Total stock-based compensation | 3,658 | 1,755 | 5,241 | 4,180 |
Selling and Marketing Expense | ||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||
Total stock-based compensation | 8,475 | 1,909 | 9,968 | 3,440 |
General and Administrative | ||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||
Total stock-based compensation | $ 19,487 | $ 1,780 | $ 23,529 | $ 3,659 |
Equity Incentive Plans - Sche_2
Equity Incentive Plans - Schedule of Estimated Fair Value of Stock Option Granted to Employees (Details) - Stock Options | 3 Months Ended | 6 Months Ended | |
Jul. 31, 2018 | Jul. 31, 2019 | Jul. 31, 2018 | |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||
Risk-free interest rate | 2.50% | ||
Risk-free interest rate, Minimum | 2.80% | 2.50% | |
Risk-free interest rate, Maximum | 2.90% | 2.90% | |
Expected volatility | 41.00% | ||
Expected volatility, Minimum | 40.00% | 40.00% | |
Expected volatility, Maximum | 42.00% | 44.00% | |
Expected term (in years) | 5 years 10 months 6 days | ||
Minimum | |||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||
Expected term (in years) | 5 years 6 months | 5 years 6 months | |
Maximum | |||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||
Expected term (in years) | 6 years 8 months 8 days | 6 years 8 months 8 days |
Equity Incentive Plans - Summ_2
Equity Incentive Plans - Summary of Stock Option Activity (Details) $ / shares in Units, $ in Thousands | 6 Months Ended | 12 Months Ended |
Jul. 31, 2019USD ($)$ / sharesshares | Jan. 31, 2019USD ($)$ / sharesshares | |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ||
Options Outstanding, Number of Shares, Beginning balance | shares | 52,797,213 | |
Options Outstanding, Number of Shares, Options granted | shares | 478,278 | |
Options Outstanding, Number of Shares, Options exercised | shares | (3,259,840) | |
Options Outstanding, Number of Shares, Options cancelled or expired | shares | (1,745,103) | |
Options Outstanding, Number of Shares, Ending balance | shares | 48,270,548 | 52,797,213 |
Options Outstanding, Number of Shares, Exercisable | shares | 22,784,604 | |
Options Outstanding, Average Exercise Price per Share, Beginning balance | $ / shares | $ 5.27 | |
Options Outstanding, Average Exercise Price per Share, Options granted | $ / shares | 12.63 | |
Options Outstanding, Average Exercise Price per Share, Options exercised | $ / shares | 3.97 | |
Options Outstanding, Average Exercise Price per Share, Options cancelled or expired | $ / shares | 6.17 | |
Options Outstanding, Average Exercise Price per Share, Ending balance | $ / shares | 5.40 | $ 5.27 |
Options Outstanding, Average Exercise Price per Share, Exercisable | $ / shares | $ 4.22 | |
Options Outstanding, Weighted Average Remaining Contractual Term (years), Outstanding | 7 years 8 months 12 days | 8 years 1 month 13 days |
Options Outstanding, Weighted Average Remaining Contractual Term (years), Exercisable | 6 years 5 months 8 days | |
Options Outstanding, Aggregate Intrinsic Value, Beginning balance | $ | $ 388,631 | |
Options Outstanding, Aggregate Intrinsic Value, Options granted | $ | 13,752 | |
Options Outstanding, Aggregate Intrinsic Value, Ending balance | $ | 1,663,031 | $ 388,631 |
Options Outstanding, Aggregate Intrinsic Value, Exercisable | $ | $ 811,614 |
Equity Incentive Plans - Summ_3
Equity Incentive Plans - Summary of Restricted Stock Unit Activity (Details) | 6 Months Ended |
Jul. 31, 2019$ / sharesshares | |
Restricted Stock Units | |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |
Number of Shares, Beginning balance | shares | 3,155,197 |
Number of Shares granted | shares | 5,637,399 |
Number of Shares cancelled and expired | shares | (139,565) |
Number of Shares, Ending balance | shares | 8,653,031 |
Weighted Average Grant Date Fair Value, Beginning balance | $ / shares | $ 6.29 |
Weighted Average Grant Date Fair Value, Shares granted | $ / shares | 13.85 |
Weighted Average Grant Date Fair Value,Exercise Price per Share, Shares cancelled and expired | $ / shares | 13.44 |
Weighted Average Grant Date Fair Value, Ending balance | $ / shares | $ 11.05 |
Performance Restricted Stock Units | |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |
Number of Shares granted | shares | 900,579 |
Number of Shares, Ending balance | shares | 900,579 |
Weighted Average Grant Date Fair Value, Shares granted | $ / shares | $ 13.91 |
Weighted Average Grant Date Fair Value, Ending balance | $ / shares | $ 13.91 |
Equity Incentive Plans - Sche_3
Equity Incentive Plans - Schedule of Estimated Fair Value of ESPP Share (Details) - Employee Stock Purchase Plan | 6 Months Ended |
Jul. 31, 2019 | |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |
Risk-free interest rate | 1.90% |
Expected volatility | 38.00% |
Expected term (in years) | 7 months 24 days |
Net Loss Per Share Attributab_3
Net Loss Per Share Attributable to Common Stockholders - Schedule of Basic and Diluted Net Loss Per Share Attributable to Common Stockholders (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jul. 31, 2019 | Jul. 31, 2018 | Jul. 31, 2019 | Jul. 31, 2018 | |
Numerator: | ||||
Net loss | $ (38,284) | $ (28,147) | $ (40,843) | $ (55,675) |
Denominator: | ||||
Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted | 43,986 | 25,970 | 37,248 | 25,345 |
Net loss per share attributable to common stockholders, basic and diluted | $ (0.87) | $ (1.08) | $ (1.10) | $ (2.20) |
Net Loss Per Share Attributab_4
Net Loss Per Share Attributable to Common Stockholders - Schedule of Potential Shares of Common Stock Equivalents Excluded From Computation of Diluted Net Loss Per Share Attributable to Common Stockholders (Details) - shares shares in Thousands | 3 Months Ended | 6 Months Ended | ||
Jul. 31, 2019 | Jul. 31, 2018 | Jul. 31, 2019 | Jul. 31, 2018 | |
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items] | ||||
Antidilutive securities excluded from computation of earnings per share | 58,592 | 117,283 | 58,592 | 117,283 |
Convertible Preferred Stock | ||||
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items] | ||||
Antidilutive securities excluded from computation of earnings per share | 72,395 | 72,395 | ||
Stock Options | ||||
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items] | ||||
Antidilutive securities excluded from computation of earnings per share | 48,271 | 44,509 | 48,271 | 44,509 |
Restricted Stock Units | ||||
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items] | ||||
Antidilutive securities excluded from computation of earnings per share | 9,554 | 9,554 | ||
Common Stock Warrant | ||||
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items] | ||||
Antidilutive securities excluded from computation of earnings per share | 75 | 75 | ||
Convertible Preferred Stock Warrant | ||||
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items] | ||||
Antidilutive securities excluded from computation of earnings per share | 56 | 56 | 56 | 56 |
Unvested Early Exercises Subject to Repurchase | ||||
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items] | ||||
Antidilutive securities excluded from computation of earnings per share | 28 | 248 | 28 | 248 |
ESPP | ||||
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items] | ||||
Antidilutive securities excluded from computation of earnings per share | 683 | 683 |