Document and Entity Information
Document and Entity Information - shares | 3 Months Ended | |
Mar. 31, 2019 | Apr. 26, 2019 | |
Document Information [Line Items] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Entity Emerging Growth Company | false | |
Entity Small Business | false | |
Document Period End Date | Mar. 31, 2019 | |
Document Fiscal Year Focus | 2019 | |
Document Fiscal Period Focus | Q1 | |
Trading Symbol | AYX | |
Entity Registrant Name | Alteryx, Inc. | |
Entity Central Index Key | 0001689923 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Large Accelerated Filer | |
Class A Common Stock | ||
Document Information [Line Items] | ||
Entity Common Stock, Shares Outstanding | 46,529,788 | |
Class B Common Stock | ||
Document Information [Line Items] | ||
Entity Common Stock, Shares Outstanding | 16,011,738 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Income and Comprehensive Income - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Income Statement [Abstract] | ||
Revenue | $ 76,020 | $ 50,329 |
Cost of revenue | 8,000 | 5,004 |
Gross profit | 68,020 | 45,325 |
Operating expenses: | ||
Research and development | 14,072 | 10,768 |
Sales and marketing | 38,450 | 22,079 |
General and administrative | 19,900 | 9,795 |
Total operating expenses | 72,422 | 42,642 |
Income (loss) from operations | (4,402) | 2,683 |
Interest expense | (2,986) | (2) |
Other income, net | 2,829 | 770 |
Income (loss) before benefit of income taxes | (4,559) | 3,451 |
Benefit of income taxes | (10,473) | (1,446) |
Net income | $ 5,914 | $ 4,897 |
Net income per share attributable to common stockholders, basic (in dollars per share) | $ 0.10 | $ 0.08 |
Net income per share attributable to common stockholders, diluted (in dollars per share) | $ 0.09 | $ 0.08 |
Weighted-average shares used to compute net income per share attributable to common stockholders, basic (in shares) | 61,926 | 60,052 |
Weighted-average shares used to compute net income per share attributable to common stockholders, diluted (in shares) | 67,478 | 63,476 |
Other comprehensive income (loss), net of tax: | ||
Net unrealized holding income (loss) on investments, net of tax | $ 702 | $ (167) |
Foreign currency translation adjustments, net of tax | (1,011) | (6) |
Other comprehensive loss, net of tax | (309) | (173) |
Total comprehensive income | $ 5,605 | $ 4,724 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Current assets: | ||
Cash and cash equivalents | $ 127,041 | $ 89,974 |
Short-term investments | 240,100 | 239,718 |
Accounts receivable, net of allowance for doubtful accounts and sales reserves of $1,972 and $2,297 as of March 31, 2019 and December 31, 2018, respectively | 52,034 | 94,922 |
Prepaid expenses and other current assets | 39,441 | 37,199 |
Total current assets | 458,616 | 461,813 |
Property and equipment, net | 12,210 | 11,729 |
Operating lease right-of-use assets | 25,393 | 0 |
Long-term investments | 94,207 | 96,551 |
Goodwill | 9,475 | 9,494 |
Intangible assets, net | 6,993 | 7,491 |
Other assets | 37,298 | 31,089 |
Total assets | 644,192 | 618,167 |
Current liabilities: | ||
Accounts payable | 6,804 | 5,028 |
Accrued payroll and payroll related liabilities | 21,570 | 24,659 |
Accrued expenses and other current liabilities | 14,268 | 10,878 |
Deferred revenue | 71,120 | 84,015 |
Convertible senior notes, net | 176,345 | 0 |
Total current liabilities | 290,107 | 124,580 |
Convertible senior notes, net | 0 | 173,647 |
Deferred revenue | 2,005 | 2,130 |
Operating lease liabilities | 22,781 | 0 |
Other liabilities | 1,252 | 4,345 |
Deferred income tax, net | 2,209 | 11,647 |
Total liabilities | 318,354 | 316,349 |
Stockholders’ equity: | ||
Preferred stock, $0.0001 par value: 10,000 shares authorized as of March 31, 2019 and December 31, 2018, respectively; no shares issued and outstanding as of March 31, 2019 and December 31, 2018, respectively | 0 | 0 |
Common stock, $0.0001 par value: 500,000 Class A shares authorized, 46,451 and 37,832 shares issued and outstanding, as of March 31, 2019 and December 31, 2018, respectively; 500,000 Class B shares authorized, 16,012 and 23,748 shares issued and outstanding as of March 31, 2019 and December 31, 2018, respectively | 6 | 6 |
Additional paid-in capital | 333,706 | 315,291 |
Accumulated deficit | (6,994) | (12,908) |
Accumulated other comprehensive loss | (880) | (571) |
Total stockholders’ equity | 325,838 | 301,818 |
Total liabilities and stockholders’ equity | $ 644,192 | $ 618,167 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Allowance for doubtful accounts and sales reserves | $ 1,972 | $ 2,297 |
Preferred stock, par value (in dollars per share) | $ 0.0001 | $ 0.0001 |
Preferred stock, shares authorized (in shares) | 10,000,000 | 10,000,000 |
Preferred stock, shares issued (in shares) | 0 | 0 |
Preferred stock, shares outstanding (in shares) | 0 | 0 |
Class A Common Stock | ||
Common stock, par value per share (in dollars per share) | $ 0.0001 | $ 0.0001 |
Common stock, shares authorized (in shares) | 500,000,000 | 500,000,000 |
Common stock, shares issued (in shares) | 46,451,000 | 37,832,000 |
Common stock, shares outstanding (in shares) | 46,451,000 | 37,832,000 |
Class B Common Stock | ||
Common stock, par value per share (in dollars per share) | $ 0.0001 | $ 0.0001 |
Common stock, shares authorized (in shares) | 500,000,000 | 500,000,000 |
Common stock, shares issued (in shares) | 16,012,000 | 23,748,000 |
Common stock, shares outstanding (in shares) | 16,012,000 | 23,748,000 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Stockholders' Equity - USD ($) shares in Thousands, $ in Thousands | Total | Common Stock | Additional Paid-in Capital | Accumulated Deficit | Accumulated Other Comprehensive Gain (Loss) |
Beginning balance (in shares) at Dec. 31, 2017 | 59,635 | ||||
Beginning Balance at Dec. 31, 2017 | $ 153,504 | $ 5 | $ 257,399 | $ (103,546) | $ (354) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||
Shares issued pursuant to stock awards (in shares) | 934 | ||||
Shares issued pursuant to stock awards | 4,973 | $ 1 | 4,972 | ||
Stock-based compensation | 3,789 | 3,789 | |||
Equity settled contingent consideration (in shares) | 19 | ||||
Equity-settled contingent consideration | 656 | 656 | |||
Cumulative translation adjustment | (6) | (6) | |||
Unrealized gain (loss) on investments | (167) | (167) | |||
Net income | 4,897 | 4,897 | |||
Ending balance (in shares) at Mar. 31, 2018 | 60,588 | ||||
Ending Balance at Mar. 31, 2018 | 230,405 | $ 6 | 266,957 | (36,031) | (527) |
Beginning balance (in shares) at Dec. 31, 2018 | 61,579 | ||||
Beginning Balance at Dec. 31, 2018 | 301,818 | $ 6 | 315,291 | (12,908) | (571) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||
Receipt of Section 16(b) disgorgement, net of tax effect | 3,743 | 3,743 | |||
Shares issued pursuant to stock awards (in shares) | 863 | ||||
Shares issued pursuant to stock awards | 8,587 | 8,587 | |||
Stock-based compensation | 5,335 | 5,335 | |||
Equity settled contingent consideration (in shares) | 21 | ||||
Equity-settled contingent consideration | 750 | 750 | |||
Cumulative translation adjustment | (1,011) | (1,011) | |||
Unrealized gain (loss) on investments | 702 | 702 | |||
Net income | 5,914 | 5,914 | |||
Ending balance (in shares) at Mar. 31, 2019 | 62,463 | ||||
Ending Balance at Mar. 31, 2019 | $ 325,838 | $ 6 | $ 333,706 | $ (6,994) | $ (880) |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Cash flows from operating activities: | ||
Net income | $ 5,914 | $ 4,897 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Depreciation and amortization | 1,648 | 1,269 |
Stock-based compensation | 5,335 | 3,789 |
Amortization of debt discount and issuance costs | 2,699 | 0 |
Deferred income taxes | (10,550) | (8) |
Recoveries of doubtful accounts | (123) | (108) |
Change in fair value of contingent consideration | 0 | 293 |
Gain on remeasurement of intercompany loan | (912) | 0 |
Changes in operating assets and liabilities, net of effect of business acquisitions: | ||
Accounts receivable | 42,880 | 20,553 |
Deferred commissions | (1,177) | (1,209) |
Prepaid expenses and other current assets and other assets | (7,476) | (7,968) |
Accounts payable | 1,762 | 443 |
Accrued payroll and payroll related liabilities | (10,543) | (2,636) |
Accrued expenses and other current liabilities | 571 | (2,949) |
Deferred revenue | (12,824) | (4,264) |
Other liabilities | (1,166) | (1) |
Net cash provided by operating activities | 16,038 | 12,101 |
Cash flows from investing activities: | ||
Purchases of property and equipment | (1,528) | (1,416) |
Cash paid in business acquisitions, net of cash acquired | 0 | (3,542) |
Purchases of investments | (73,553) | (83,591) |
Maturities of investments | 76,981 | 11,000 |
Net cash provided by (used in) investing activities | 1,900 | (77,549) |
Cash flows from financing activities: | ||
Proceeds from receipt of Section 16(b) disgorgement | 4,918 | 0 |
Proceeds from exercise of stock options and taxes withheld | 18,425 | 4,973 |
Minimum tax withholding paid on behalf of employees for restricted stock units | (2,439) | 0 |
Settlement of acquisition-related contingent consideration | (1,000) | 0 |
Other financing payments | (305) | (333) |
Net cash provided by financing activities | 19,599 | 4,640 |
Effect of exchange rate changes on cash, cash equivalents and restricted cash | (105) | 169 |
Net increase (decrease) in cash, cash equivalents and restricted cash | 37,432 | (60,639) |
Cash, cash equivalents and restricted cash—beginning of period | 90,961 | 119,916 |
Cash, cash equivalents and restricted cash—end of period | 128,393 | 59,277 |
Supplemental disclosure of noncash investing and financing activities: | ||
Property and equipment recorded in accounts payable | 569 | 360 |
Right-of-use assets obtained in exchange for new operating lease liabilities | 1,604 | |
Consideration for business acquisition initially included in accrued expenses and other current liabilities and other liabilities | 0 | 1,200 |
Contingent consideration settled through issuance of common stock | $ 750 | $ 656 |
Business
Business | 3 Months Ended |
Mar. 31, 2019 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Business | Business Our Company Alteryx, Inc. and its subsidiaries, or we, our, or us, are improving business through data science and analytics by enabling analytic producers, regardless of technical acumen, to quickly and easily transform data into actionable insights and deliver improved data-driven business outcomes. Every day, our users leverage our end-to-end analytic platform to quickly and easily discover, access, prepare, and analyze data from a multitude of sources, then deploy and share analytics at scale. The ease-of-use, speed, and sophistication that our platform provides is enhanced through intuitive and highly repeatable visual workflows. Basis of Presentation Our unaudited interim condensed consolidated financial statements are presented in accordance with accounting standards generally accepted in the United States of America, or U.S. GAAP, for interim financial information. Certain information and disclosures normally included in consolidated financial statements presented in accordance with U.S. GAAP have been condensed or omitted. Accordingly, these unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and the related notes included in our Annual Report on Form 10-K for the year ended December 31, 2018 filed with the Securities and Exchange Commission, or SEC, on March 1, 2019. The unaudited interim condensed consolidated financial statements have been prepared on a basis consistent with that used to prepare the audited annual consolidated financial statements and reflect all adjustments which are, in the opinion of our management, of a normal recurring nature and necessary for a fair statement of the condensed consolidated financial statements. All intercompany accounts and transactions have been eliminated in consolidation. We adopted Accounting Standards Codification, Revenue from Contracts with Customers , or ASC 606, effective January 1, 2018 on a modified retrospective basis during the fourth quarter of 2018 for our annual reporting period for the year ended December 31, 2018. As a result, the quarterly financial results for the three months ended March 31, 2018 have been recast to reflect the adoption of ASC 606. The operating results for the three months ended March 31, 2019 are not necessarily indicative of the results expected for the full year ending December 31, 2019 . |
Significant Accounting Policies
Significant Accounting Policies | 3 Months Ended |
Mar. 31, 2019 | |
Accounting Policies [Abstract] | |
Significant Accounting Policies | Significant Accounting Policies There have been no changes to our accounting policies disclosed in our audited consolidated financial statements and the related notes for the year ended December 31, 2018 other than, during the three months ended March 31, 2019, we adopted new accounting guidance related to leases. See Leases and Recently Adopted Accounting Pronouncements below and Note 8, Leases , for additional information. Use of Estimates The preparation of condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent liabilities at the date of the condensed consolidated financial statements, and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from these estimates and assumptions. On an ongoing basis, our management evaluates estimates and assumptions based on historical data and experience, as well as various other factors that our management believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying value of assets and liabilities. Operating Segments Operating segments are defined as components of an enterprise for which separate financial information is evaluated regularly by the chief operating decision maker, or CODM, who is our chief executive officer, in deciding how to allocate resources and assess our financial and operational performance. Our CODM evaluates our financial information and resources and assesses the performance of these resources on a consolidated and aggregated basis. As a result, we have determined that our business operates in a single operating segment. Leases Through December 31, 2018, we recognized rent expense related to operating leases on a straight-line basis over the lease term and, accordingly, recorded the difference between rent payments and rent expense as a deferred rent liability. Effective January 1, 2019, we adopted Accounting Standards Update 2016-02, Leases , or ASC 842. See Recently Adopted Accounting Pronouncements below. Under ACU 842, we determine if an arrangement is a lease at contract inception. Operating leases are included in operating lease right-of-use assets, other current liabilities and operating lease liabilities in our condensed consolidated balance sheets. Operating lease right-of-use assets and operating lease liabilities are recognized based on the present value of the future minimum lease payments over the lease term at commencement date. We do not separate lease and non-lease components for all underlying asset classes. As most of our leases do not provide a readily determinable implicit rate, we estimate our incremental borrowing rate to discount the lease payments based on information available at lease commencement. We determine our incremental borrowing rate for each lease based primarily on the lease term and the economic environment of the applicable country or region. The operating lease right-of-use asset also includes any lease payments made and excludes lease incentives and initial direct costs incurred. The lease term includes options to extend or terminate when we are reasonably certain the option will be exercised. In general, we are not reasonably certain to exercise such options. We recognize lease expense for minimum lease payments on a straight-line basis over the lease term, while variable lease payments, such as common area maintenance, are recognized as incurred. We elected the practical expedient to not recognize operating lease right-of-use assets and operating lease liabilities that arise from short-term leases (i.e., leases with a term of 12 months or less). Recently Adopted Accounting Pronouncements In February 2016, the Financial Accounting Standards Board, or FASB, issued ASU 2016-02, codified as ASC 842, which requires lessees to record the assets and liabilities arising from all leases, with the exception of short-term leases, in the statement of financial position. Under ASC 842, lessees will recognize a liability for lease payments and a right-of-use asset. This guidance retains the distinction between finance leases and operating leases and the classification criteria remain similar. For financing leases, a lessee will recognize the interest on a lease liability separate from amortization of the right-of-use asset. In addition, repayments of principal will be presented within financing activities, and interest payments will be presented within operating activities in the statement of cash flows. For operating leases, a lessee will recognize a single lease cost on a straight-line basis and classify all cash payments within operating activities in the statement of cash flows. We adopted the new lease accounting standard effective January 1, 2019 using the optional transition method described in ASU No. 2018-11, Leases – Targeted Improvements , which was issued in July 2018. Under the optional transition method, we recognized the cumulative effect of initially applying the guidance as an adjustment to the operating lease right-of-use assets and operating lease liabilities on our condensed consolidated balance sheet on January 1, 2019 without retrospective application to comparative periods. The adoption of ASC 842 did not have an impact on retained earnings on our condensed consolidated balance sheet as of January 1, 2019 and is not expected to have a material impact on our condensed consolidated statements of income and comprehensive income. We elected the package of practical expedients permitted under the transition guidance within the new standard which allowed us to carry forward our historical assessments of whether contracts are or contain leases, lease classification and initial direct costs. See Note 8, Leases , for additional details. Recently Issued Accounting Pronouncements In August 2018, the FASB issued ASU 2018-15, Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract, which aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing costs incurred to develop or obtain internal-use software. This guidance will be effective for us for annual reporting periods beginning after December 15, 2019 and for interim periods within those annual periods, and can be applied either retrospectively or prospectively to all implementation costs after the date of adoption. Early adoption is permitted. We are evaluating the potential impact of this guidance on our consolidated financial statements. |
Revenues
Revenues | 3 Months Ended |
Mar. 31, 2019 | |
Revenue from Contract with Customer [Abstract] | |
Revenue | Revenues Disaggregation of Revenue The disaggregation of revenue by region, type of performance obligation, and timing of revenue recognition was as follows (in thousands): Three Months Ended March 31, 2019 2018 Revenue by type region: United States $ 52,896 $ 35,282 International 23,124 15,047 Total $ 76,020 $ 50,329 Revenue by type of performance obligation: Subscription-based software license $ 34,807 $ 22,475 PCS and services 41,213 27,854 Total $ 76,020 $ 50,329 Costs by type of performance obligation: Subscription-based software license $ 597 $ 428 PCS and services 7,403 4,576 Total $ 8,000 $ 5,004 Revenue attributable to the United Kingdom comprised 10.4% and 10.2% of total revenue for the three months ended March 31, 2019 and 2018, respectively. Other than the United Kingdom, no other countries outside the United States comprised more than 10% of revenue for any of the periods presented. Our operations outside the United States include sales offices in Australia, Canada, the Czech Republic, France, Germany, Japan, Singapore, the United Arab Emirates and the United Kingdom, and a research and development center in Ukraine and the Czech Republic. Revenue by location is determined by the billing address of the customer. Revenue recognized on our subscription-based software licenses is recognized at a point in time when the platform is first made available to the customer, or the beginning of the subscription term, if later. Revenue recognized related to post-contract support, or PCS, service, and hosted services is recognized ratably over the subscription term, with the exception of professional services related to training services. Revenue related to professional services is recognized at a point in time as the services are performed, and represents 5% or less of total revenue for all periods presented. Contract Assets and Contract Liabilities Timing may differ between the satisfaction of performance obligations and the invoicing and collection of amounts related to our contracts with customers. Contract assets primarily relate to unbilled amounts for contracts with customers for which the amount of revenue recognized exceeds the amount billed to the customer. Contract assets are transferred to accounts receivable when the right to invoice becomes unconditional. Contract liabilities, or deferred revenue, are recorded for amounts that are collected in advance of the satisfaction of performance obligations. These liabilities are classified as current and non-current deferred revenue. As of March 31, 2019 , our contract assets are expected to be transferred to receivables within the next 12 to 24 months and, with respect to these contract assets, $12.6 million is included in prepaid expenses and other current assets and $21.9 million is included in other assets on our condensed consolidated balance sheet. As of December 31, 2018, we had contract assets of $11.2 million included in prepaid expenses and other current assets and $16.5 million included in other assets on our condensed consolidated balance sheet. There were no impairments of contract assets during the three months ended March 31, 2019 . During the three months ended March 31, 2019 , we recognized $35.8 million of revenue related to amounts that were included in deferred revenue as of January 1, 2019. Assets Recognized from the Costs to Obtain our Contracts with Customers We recognize an asset for the incremental costs of obtaining a contract with a customer if we expect the benefit of those costs to be longer than one year. We amortize these deferred costs proportionate with related revenues over the benefit period. A summary of the activity impacting our deferred contract costs during the three months ended March 31, 2019 is presented below (in thousands): Balances at December 31, 2018 $ 22,391 Additional contract costs deferred 5,798 Amortization of deferred contract costs (5,381 ) Balances at March 31, 2019 $ 22,808 As of March 31, 2019 , $ 11.9 million of our deferred contract costs are expected to be amortized within the next 12 months and therefore are included in other current assets. The remaining amount of our deferred contract costs are included in other long-term assets. There were no impairments of assets related to deferred contract costs during the three months ended March 31, 2019 . There were no assets recognized related to the costs to fulfill contracts during the three months ended March 31, 2019 as these costs were not material. Remaining Performance Obligations As of March 31, 2019 , we had an aggregate transaction price of $ 214.0 million, allocated to unsatisfied performance obligations related primarily to PCS, cloud-based offerings, and subscriptions to third-party syndicated data. We expect to recognize $ 178.1 million as revenue through the period ending December 31, 2020, with the remaining amount recognized thereafter. |
Fair Value Measurements
Fair Value Measurements | 3 Months Ended |
Mar. 31, 2019 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements | Fair Value Measurements Instruments Measured at Fair Value on a Recurring Basis. The following tables present our cash and cash equivalents’ and investments’ costs, gross unrealized gains (losses), and fair value by major security type recorded as cash and cash equivalents or short-term or long-term investments as of March 31, 2019 and December 31, 2018 (in thousands): As of March 31, 2019 Cost Gross Unrealized Gains Fair Value Cash and Cash Equivalents Short-term Investments Long-term Investments Cash $ 110,593 $ — $ 110,593 $ 110,593 $ — $ — Level 1: Money market funds 15,454 — 15,454 15,454 — — Subtotal 15,454 — 15,454 15,454 — — Level 2: Commercial paper 14,777 — 14,777 994 13,783 — Certificates of deposit 3,250 — 3,250 — 3,250 — U.S. Treasury and agency bonds 209,237 137 209,374 — 165,638 43,736 Corporate bonds 107,583 317 107,900 — 57,429 50,471 Subtotal 334,847 454 335,301 994 240,100 94,207 Level 3: — — — — — — Total $ 460,894 $ 454 $ 461,348 $ 127,041 $ 240,100 $ 94,207 As of December 31, 2018 Cost Gross Unrealized Losses Fair Value Cash and Short-term Investments Long-term Investments Cash $ 78,194 $ — $ 78,194 $ 78,194 $ — $ — Level 1: Money market funds 11,780 — 11,780 11,780 — — Subtotal 11,780 — 11,780 11,780 — — Level 2: Commercial paper 1,313 — 1,313 — 1,313 — Certificates of deposit 6,101 — 6,101 — 5,351 750 U.S. Treasury and agency bonds 220,136 (139 ) 219,997 — 158,204 61,793 Corporate bonds 108,968 (110 ) 108,858 — 74,850 34,008 Subtotal 336,518 (249 ) 336,269 — 239,718 96,551 Level 3: — — — — — — Total $ 426,492 $ (249 ) $ 426,243 $ 89,974 $ 239,718 $ 96,551 There were no transfers between Level 1, Level 2, or Level 3 securities during the three months ended March 31, 2019 . Gross unrealized losses were less than $ 0.1 million as of March 31, 2019 , were due to changes in market rates, and are temporary in nature. All the long-term investments had maturities of between one and two years in duration as of March 31, 2019 . Cash and cash equivalents, restricted cash, and investments as of March 31, 2019 and December 31, 2018 held domestically were approximately $ 442.5 million and $ 417.9 million, respectively. Contingent Consideration. The following table presents a reconciliation of the beginning and ending balances of acquisition-related accrued contingent consideration using significant unobservable inputs (Level 3) for the three months ended March 31, 2019 and 2018 (in thousands): Three Months Ended March 31, 2019 2018 Beginning balance $ 2,143 $ 975 Obligations assumed — 1,200 Change in fair value — 293 Settlements (1,750 ) (656 ) Ending balance $ 393 $ 1,812 Upon the achievement of certain milestones in connection with our acquisition of Semanta, s.r.o., or Semanta, we released 11,250 shares of Class A common stock to the former shareholders of Semanta in the three months ended March 31, 2019 . In addition, upon completion of the indemnification period in the three months ended March 31, 2019 , we released 10,205 shares of Class A common stock to the former shareholders of Semanta that had previously been earned, but were held back in accordance with the terms of the acquisition agreement. During the three months ended March 31, 2019 , we also paid $1.0 million to the former shareholder of Alteryx ANZ Pty Limited upon the achievement of certain milestones. Instruments Not Recorded at Fair Value on a Recurring Basis. As of March 31, 2019 , the fair value of our convertible senior notes was $456.9 million . The carrying amounts of our cash, accounts receivable, prepaid expenses and other current assets, accounts payable, and accrued liabilities approximate their current fair value because of their nature and relatively short maturity dates or durations. |
Goodwill and Intangible Assets
Goodwill and Intangible Assets | 3 Months Ended |
Mar. 31, 2019 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill and Intangible Assets | Goodwill and Intangible Assets The change in carrying amount of goodwill for the three months ended March 31, 2019 was as follows (in thousands): Goodwill as of December 31, 2018 $ 9,494 Goodwill recorded in connection with acquisition — Effects of foreign currency translation (19 ) Goodwill as of March 31, 2019 $ 9,475 Intangible assets consisted of the following (in thousands, except years): As of March 31, 2019 Weighted- Average Useful Life in Years Gross Carrying Value Accumulated Amortization Net Carrying Value Customer relationships 6.9 $ 1,562 $ (281 ) $ 1,281 Completed technology 5.7 9,180 (3,468 ) 5,712 $ 10,742 $ (3,749 ) $ 6,993 As of December 31, 2018 Weighted- Gross Carrying Value Accumulated Amortization Net Carrying Value Customer relationships 6.9 $ 1,554 $ (221 ) $ 1,333 Completed technology 5.7 9,180 (3,022 ) 6,158 $ 10,734 $ (3,243 ) $ 7,491 We classified intangible asset amortization expense in the accompanying consolidated statements of income and comprehensive income as follows (in thousands): Three Months Ended March 31, 2019 2018 Cost of revenue $ 446 $ 446 Sales and marketing 59 31 Total $ 505 $ 477 The following table presents our estimates of remaining amortization expense for finite-lived intangible assets at March 31, 2019 (in thousands): Remainder of 2019 $ 1,530 2020 1,721 2021 1,510 2022 964 2023 604 Thereafter 664 Total amortization expense $ 6,993 |
Convertible Senior Notes
Convertible Senior Notes | 3 Months Ended |
Mar. 31, 2019 | |
Debt Disclosure [Abstract] | |
Convertible Senior Notes | Convertible Senior Notes In May and June 2018, we sold $230.0 million aggregate principal amount of our 0.50% Convertible Senior Notes due 2023, or the convertible senior notes, including the initial purchasers’ exercise in full of their option to purchase an additional $30.0 million of the convertible senior notes, in a private offering to qualified institutional buyers pursuant to Rule 144A promulgated under the Securities Act of 1933, as amended, or the Act. The convertible senior notes are our senior, unsecured obligations, and interest of 0.50% per year is payable semi-annually in arrears on June 1 and December 1 of each year beginning December 1, 2018. The convertible senior notes will mature on June 1, 2023, unless repurchased or converted in accordance with their terms prior to such date. Prior to the close of business on the business day immediately preceding March 1, 2023, the convertible senior notes are convertible at the option of holders only upon satisfaction of certain conditions and during certain periods, and thereafter, at any time until the close of business on the second scheduled trading day immediately preceding the maturity date. The convertible senior notes have an initial conversion rate of 22.5572 shares of our Class A common stock per $1,000 principal amount of convertible senior notes, which is equivalent to an initial conversion price of approximately $44.33 per share of Class A common stock. The conversion rate is subject to customary adjustments for certain events as described in the indenture between us and U.S. Bank National Association, as trustee, or the Indenture. Upon conversion, the convertible senior notes may be settled in shares of our Class A common stock, cash or a combination of cash and shares of our Class A common stock, at our election. It is our current intent to settle the principal amount of the convertible senior notes with cash. As of March 31, 2019 , the if-converted value of the convertible senior notes exceeded its principal amount by $205.1 million . Prior to the close of business on the business day immediately preceding March 1, 2023, the convertible senior notes are convertible at the option of the holders under the following circumstances: • during any calendar quarter commencing after the calendar quarter ending on June 30, 2018 (and only during such calendar quarter), if the last reported sale price of the Class A common stock for at least 20 trading days (whether or not consecutive) during a period of 30 consecutive trading days ending on the last trading day of the immediately preceding calendar quarter is greater than or equal to 130% of the conversion price of the convertible senior notes on each applicable trading day; • during the five business day period after any five consecutive trading day period in which the trading price per $1,000 principal amount of convertible senior notes for each day of that ten day consecutive trading day period was less than 98% of the product of the last reported sale price of our Class A common stock and the conversion rate of the convertible senior notes on such trading day; or • upon the occurrence of specified corporate events described in the Indenture. For at least 20 trading days during the period of 30 consecutive trading days ending March 29, 2019, the last reported sale price of our Class A common stock was greater than or equal to 130% of the conversion price of the convertible senior notes on each applicable trading day. As a result, the convertible senior notes are convertible at the option of the holders during the quarter ending June 30, 2019 and were classified as current liabilities on the condensed consolidated balance sheet as of March 31, 2019. As of the date of this filing, none of the holders of the convertible senior notes have submitted requests for conversion. The convertible senior notes consisted of the following (in thousands): As of March 31, 2019 Liability: Principal $ 230,000 Less: debt discount, net of amortization (53,655 ) Net carrying amount $ 176,345 Equity, net of issuance costs $ 57,251 The following table sets forth interest expense recognized related to the convertible senior notes (in thousands, except effective interest rate): Three Months Ended Contractual interest expense $ 287 Amortization of debt issuance costs and discount 2,699 Total $ 2,986 Effective interest rate of the liability component 7.00 % Capped Call In connection with the pricing of the convertible senior notes, we entered into privately negotiated capped call transactions with an affiliate of one of the initial purchasers of the convertible senior notes and other financial institutions. The capped call transactions are expected generally to reduce or offset potential dilution to holders of our common stock and/or offset the potential cash payments that we could be required to make in excess of the principal amount upon any conversion of the convertible senior notes under certain circumstances, with such reduction and/or offset subject to a cap based on the cap price. Under the capped call transactions, we purchased capped call options that in the aggregate relate to the total number of shares of our Class A common stock underlying the convertible senior notes, with an initial strike price of approximately $44.33 per share, which corresponds to the initial conversion price of the convertible senior notes and is subject to anti-dilution adjustments substantially similar to those applicable to the conversion rate of the convertible senior notes, and have a cap price of $62.22 per share. The cost of the purchased capped calls of $19.1 million was recorded as a reduction to additional paid-in-capital in our condensed consolidated balance sheet during the three months ended June 30, 2018. We elected to integrate the capped call options with the convertible senior notes for federal income tax purposes pursuant to applicable U.S. Treasury Regulations. Accordingly, the $19.1 million gross cost of the purchased calls will be deductible for income tax purposes as original discount interest over the term of the convertible senior notes. We recorded a deferred tax asset of $4.6 million , which represents the tax benefit of these deductions with an offsetting entry to additional paid-in capital. |
Equity Awards
Equity Awards | 3 Months Ended |
Mar. 31, 2019 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Equity Awards | Equity Awards Stock Options Stock option activity during the three months ended March 31, 2019 consisted of the following (in thousands, except weighted-average information): Options Outstanding Weighted- Average Exercise Price Options outstanding at December 31, 2018 4,049 $ 12.48 Granted 261 68.26 Exercised (756 ) 11.92 Canceled/forfeited (230 ) 18.11 Options outstanding at March 31, 2019 3,324 $ 16.60 As of March 31, 2019 , there was $ 17.1 million of unrecognized compensation cost related to unvested stock options, which is expected to be recognized over a weighted-average period of 2.5 years. Restricted Stock Units RSU activity during the three months ended March 31, 2019 consisted of the following (in thousands, except weighted-average information): Awards Outstanding Weighted- Average Grant Date Fair Value RSUs outstanding at December 31, 2018 1,215 $ 31.93 Granted 474 73.00 Vested (101 ) 28.22 Canceled/forfeited (106 ) 26.89 RSUs outstanding at March 31, 2019 1,482 $ 45.67 As of March 31, 2019 , total unrecognized compensation expense related to unvested RSUs was approximately $ 59.6 million, which is expected to be recognized over a weighted-average period of 2.9 years. We classified stock-based compensation expense in the accompanying consolidated statements of income and comprehensive income as follows (in thousands): Three Months Ended March 31, 2019 2018 Cost of revenue $ 307 $ 139 Research and development 839 1,233 Sales and marketing 2,199 1,157 General and administrative 1,990 1,260 Total $ 5,335 $ 3,789 |
Leases
Leases | 3 Months Ended |
Mar. 31, 2019 | |
Leases [Abstract] | |
Leases | Leases We have various non-cancelable operating leases for our corporate offices in California, Colorado, Illinois, New York, Texas and Virginia in the United States and Australia, Canada, the Czech Republic, France, Germany, Japan, Singapore, Ukraine, the United Arab Emirates and the United Kingdom. These leases expire at various times through 2025 . Certain lease agreements contain renewal options, rent abatement, and escalation clauses that are factored into our determination of lease payments when appropriate. The table below presents lease-related assets and liabilities recorded on the condensed consolidated balance sheet (in thousands): Classification March 31, Assets Operating lease right-of-use assets Operating lease right-of-use assets $ 25,393 Liabilities Operating lease liabilities (current) Accrued expenses and other current liabilities $ 4,293 Operating lease liabilities (noncurrent) Operating lease liabilities 22,781 Total lease liabilities $ 27,074 Lease Costs The following lease costs were included in our condensed consolidated statements of income and comprehensive income as follows (in thousands): Three Months Ended March 31, 2019 Operating lease cost $ 1,422 Short-term lease cost 244 Variable lease cost 351 Total lease cost $ 2,017 Supplemental Information The table below presents supplemental information related to operating leases during the three months ended March 31, 2019 (in thousands, except weighted-average information): Cash paid for amounts included in the measurement of operating lease liabilities $ 1,187 Right-of-use assets obtained in exchange for new operating lease liabilities 24,787 Weighted average remaining lease term 5.8 years Weighted average discount rate 6.26 % Undiscounted Cash Flows The table below reconciles the undiscounted cash flows for each of the first five years and total of the remaining years to the operating lease liabilities recorded on the condensed consolidated balance sheet as of March 31, 2019 (in thousands): Remainder of 2019 $ 4,380 2020 6,041 2021 5,506 2022 5,134 2023 4,158 2024 4,287 Thereafter 3,117 Total minimum lease payments 32,623 Less imputed interest (5,549 ) Present value of future minimum lease payments 27,074 Less current obligations under leases (4,293 ) Long-term lease obligations $ 22,781 Disclosures Related to Periods Prior to Adoption of New Lease Standard Minimum lease payments under operating leases with non-cancelable terms in excess of one year as of December 31, 2018, were as follows (in thousands): 2019 $ 6,389 2020 6,781 2021 6,326 2022 6,276 2023 5,163 Thereafter 9,427 Total minimum lease payments $ 40,362 |
Contingencies
Contingencies | 3 Months Ended |
Mar. 31, 2019 | |
Commitments and Contingencies Disclosure [Abstract] | |
Contingencies | Contingencies Indemnification As of March 31, 2019 and December 31, 2018 , we have not accrued a liability for indemnification provisions we agree to in the ordinary course of business or with our directors, executive officers and certain other employees pursuant to indemnification agreements because the likelihood of incurring a payment obligation, if any, in connection with these arrangements is not probable or reasonably estimable. Litigation From time to time, we may be involved in lawsuits, claims, investigations, and proceedings, consisting of intellectual property, commercial, employment, and other matters, which arise in the ordinary course of business. We are not currently party to any material legal proceedings or claims, nor are we aware of any pending or threatened legal proceedings or claims that could have a material adverse effect on our business, operating results, cash flows, or financial condition should such legal proceedings or claims be resolved unfavorably. |
Income Taxes
Income Taxes | 3 Months Ended |
Mar. 31, 2019 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | Income Taxes The following table presents details of the benefit of income taxes and our effective tax rates (in thousands, except percentages): Three Months Ended March 31, 2019 2018 Benefit of income taxes $ (10,473 ) $ (1,446 ) Effective tax rate (229.7 )% 41.9 % We account for income taxes according to ASC 740, which, among other things, requires that we estimate our annual effective income tax rate for the full year and apply it to pre-tax income (loss) to each interim period, taking into account year-to-date amounts and projected results for the full year. We account for the tax effects of discrete events in the interim period they occur. The provision for income taxes consists of federal, foreign, state, and local income taxes. Our effective tax rate differs from the statutory U.S. income tax rate due to the effect of state and local income taxes, differing tax rates imposed on income earned in foreign jurisdictions and in the United States, losses in foreign jurisdictions, certain nondeductible expenses, excess tax deductions and tax shortfalls related to the settlement of stock-based awards, and the changes in valuation allowances against our deferred tax assets. Our effective tax rate could change significantly from quarter to quarter because of recurring and nonrecurring factors. The benefit of income taxes for the three months ended March 31, 2019 primarily relates to discrete tax benefits of $9.5 million related to excess tax benefits related to stock option deductions. Neither we nor any of our subsidiaries are currently under examination from tax authorities in the jurisdictions in which we do business. |
Basic and Diluted Net Income Pe
Basic and Diluted Net Income Per Share | 3 Months Ended |
Mar. 31, 2019 | |
Earnings Per Share [Abstract] | |
Basic and Diluted Net Loss Per Share | Basic and Diluted Net Income Per Share The following table presents the computation of net income per share (in thousands, except per share amounts): Three Months Ended March 31, 2019 2018 Numerator: Net income attributable to common stockholders $ 5,914 $ 4,897 Denominator: Weighted-average shares used to compute net income per share attributable to common stockholders, basic 61,926 60,052 Effect of dilutive securities: Convertible senior notes 2,002 — Contingently issuable shares 11 33 Employee stock awards 3,539 3,391 Weighted-average shares used to compute net income per share attributable to common stockholders, diluted 67,478 63,476 Net income per share attributable to common stockholders, basic $ 0.10 $ 0.08 Net income per share attributable to common stockholders, diluted $ 0.09 $ 0.08 We excluded 0.2 million and 0.9 million stock awards for the three months ended March 31, 2019 and 2018, respectively, from the diluted net income per share calculation because their inclusion would have been anti-dilutive. It is our current intent to settle the principal amount of the convertible senior notes with cash and, therefore, we use the treasury stock method for calculating any potential dilutive effect of the conversion option on diluted net income per share. The conversion option may have a dilutive impact on net income per share of common stock when the average market price per share of our Class A common stock for a given period exceeds the conversion price of the convertible senior notes of $44.33 per share. The dilutive impact of the convertible senior notes is included in the tables above. |
Subsequent Event
Subsequent Event | 3 Months Ended |
Mar. 31, 2019 | |
Subsequent Events [Abstract] | |
Subsequent Event | Subsequent Event On April 4, 2019, we acquired 100% of the outstanding equity of ClearStory Data Inc., a Delaware corporation, or ClearStory Data, pursuant to an Agreement and Plan of Merger, or the Merger Agreement, dated as of March 28, 2019. The aggregate consideration payable in exchange for all of the outstanding equity interests of ClearStory Data was approximately $20.0 million in cash, subject to customary adjustments set forth in the Merger Agreement. Given the timing of the completion of the acquisition, we are currently in the process of valuing the assets acquired and liabilities assumed in the acquisition. As a result, we are unable to provide the amounts recognized as of the acquisition date for the major classes of assets acquired and liabilities assumed and other disclosures. |
Significant Accounting Polici_2
Significant Accounting Policies (Policies) | 3 Months Ended |
Mar. 31, 2019 | |
Accounting Policies [Abstract] | |
Basis of Presentation | Basis of Presentation Our unaudited interim condensed consolidated financial statements are presented in accordance with accounting standards generally accepted in the United States of America, or U.S. GAAP, for interim financial information. Certain information and disclosures normally included in consolidated financial statements presented in accordance with U.S. GAAP have been condensed or omitted. Accordingly, these unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and the related notes included in our Annual Report on Form 10-K for the year ended December 31, 2018 filed with the Securities and Exchange Commission, or SEC, on March 1, 2019. The unaudited interim condensed consolidated financial statements have been prepared on a basis consistent with that used to prepare the audited annual consolidated financial statements and reflect all adjustments which are, in the opinion of our management, of a normal recurring nature and necessary for a fair statement of the condensed consolidated financial statements. All intercompany accounts and transactions have been eliminated in consolidation. We adopted Accounting Standards Codification, Revenue from Contracts with Customers , or ASC 606, effective January 1, 2018 on a modified retrospective basis during the fourth quarter of 2018 for our annual reporting period for the year ended December 31, 2018. As a result, the quarterly financial results for the three months ended March 31, 2018 have been recast to reflect the adoption of ASC 606. The operating results for the three months ended March 31, 2019 are not necessarily indicative of the results expected for the full year ending December 31, 2019 . |
Use of Estimates | Use of Estimates The preparation of condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent liabilities at the date of the condensed consolidated financial statements, and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from these estimates and assumptions. On an ongoing basis, our management evaluates estimates and assumptions based on historical data and experience, as well as various other factors that our management believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying value of assets and liabilities. |
Operating Segments | Operating Segments Operating segments are defined as components of an enterprise for which separate financial information is evaluated regularly by the chief operating decision maker, or CODM, who is our chief executive officer, in deciding how to allocate resources and assess our financial and operational performance. Our CODM evaluates our financial information and resources and assesses the performance of these resources on a consolidated and aggregated basis. As a result, we have determined that our business operates in a single operating segment. |
Leases | Leases Through December 31, 2018, we recognized rent expense related to operating leases on a straight-line basis over the lease term and, accordingly, recorded the difference between rent payments and rent expense as a deferred rent liability. Effective January 1, 2019, we adopted Accounting Standards Update 2016-02, Leases , or ASC 842. See Recently Adopted Accounting Pronouncements below. Under ACU 842, we determine if an arrangement is a lease at contract inception. Operating leases are included in operating lease right-of-use assets, other current liabilities and operating lease liabilities in our condensed consolidated balance sheets. Operating lease right-of-use assets and operating lease liabilities are recognized based on the present value of the future minimum lease payments over the lease term at commencement date. We do not separate lease and non-lease components for all underlying asset classes. As most of our leases do not provide a readily determinable implicit rate, we estimate our incremental borrowing rate to discount the lease payments based on information available at lease commencement. We determine our incremental borrowing rate for each lease based primarily on the lease term and the economic environment of the applicable country or region. The operating lease right-of-use asset also includes any lease payments made and excludes lease incentives and initial direct costs incurred. The lease term includes options to extend or terminate when we are reasonably certain the option will be exercised. In general, we are not reasonably certain to exercise such options. We recognize lease expense for minimum lease payments on a straight-line basis over the lease term, while variable lease payments, such as common area maintenance, are recognized as incurred. We elected the practical expedient to not recognize operating lease right-of-use assets and operating lease liabilities that arise from short-term leases (i.e., leases with a term of 12 months or less). |
Recently Adopted Accounting Pronouncements and Recently Issued Accounting Pronouncements | Recently Adopted Accounting Pronouncements In February 2016, the Financial Accounting Standards Board, or FASB, issued ASU 2016-02, codified as ASC 842, which requires lessees to record the assets and liabilities arising from all leases, with the exception of short-term leases, in the statement of financial position. Under ASC 842, lessees will recognize a liability for lease payments and a right-of-use asset. This guidance retains the distinction between finance leases and operating leases and the classification criteria remain similar. For financing leases, a lessee will recognize the interest on a lease liability separate from amortization of the right-of-use asset. In addition, repayments of principal will be presented within financing activities, and interest payments will be presented within operating activities in the statement of cash flows. For operating leases, a lessee will recognize a single lease cost on a straight-line basis and classify all cash payments within operating activities in the statement of cash flows. We adopted the new lease accounting standard effective January 1, 2019 using the optional transition method described in ASU No. 2018-11, Leases – Targeted Improvements , which was issued in July 2018. Under the optional transition method, we recognized the cumulative effect of initially applying the guidance as an adjustment to the operating lease right-of-use assets and operating lease liabilities on our condensed consolidated balance sheet on January 1, 2019 without retrospective application to comparative periods. The adoption of ASC 842 did not have an impact on retained earnings on our condensed consolidated balance sheet as of January 1, 2019 and is not expected to have a material impact on our condensed consolidated statements of income and comprehensive income. We elected the package of practical expedients permitted under the transition guidance within the new standard which allowed us to carry forward our historical assessments of whether contracts are or contain leases, lease classification and initial direct costs. See Note 8, Leases , for additional details. Recently Issued Accounting Pronouncements In August 2018, the FASB issued ASU 2018-15, Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract, which aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing costs incurred to develop or obtain internal-use software. This guidance will be effective for us for annual reporting periods beginning after December 15, 2019 and for interim periods within those annual periods, and can be applied either retrospectively or prospectively to all implementation costs after the date of adoption. Early adoption is permitted. We are evaluating the potential impact of this guidance on our consolidated financial statements. |
Income Taxes | We account for income taxes according to ASC 740, which, among other things, requires that we estimate our annual effective income tax rate for the full year and apply it to pre-tax income (loss) to each interim period, taking into account year-to-date amounts and projected results for the full year. We account for the tax effects of discrete events in the interim period they occur. The provision for income taxes consists of federal, foreign, state, and local income taxes. Our effective tax rate differs from the statutory U.S. income tax rate due to the effect of state and local income taxes, differing tax rates imposed on income earned in foreign jurisdictions and in the United States, losses in foreign jurisdictions, certain nondeductible expenses, excess tax deductions and tax shortfalls related to the settlement of stock-based awards, and the changes in valuation allowances against our deferred tax assets. Our effective tax rate could change significantly from quarter to quarter because of recurring and nonrecurring factors. The benefit of income taxes for the three months ended March 31, 2019 primarily relates to discrete tax benefits of $9.5 million related to excess tax benefits related to stock option deductions. |
Revenues (Tables)
Revenues (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Revenue from Contract with Customer [Abstract] | |
Disaggregation of Revenue | The disaggregation of revenue by region, type of performance obligation, and timing of revenue recognition was as follows (in thousands): Three Months Ended March 31, 2019 2018 Revenue by type region: United States $ 52,896 $ 35,282 International 23,124 15,047 Total $ 76,020 $ 50,329 Revenue by type of performance obligation: Subscription-based software license $ 34,807 $ 22,475 PCS and services 41,213 27,854 Total $ 76,020 $ 50,329 Costs by type of performance obligation: Subscription-based software license $ 597 $ 428 PCS and services 7,403 4,576 Total $ 8,000 $ 5,004 |
Deferred Contract Costs | A summary of the activity impacting our deferred contract costs during the three months ended March 31, 2019 is presented below (in thousands): Balances at December 31, 2018 $ 22,391 Additional contract costs deferred 5,798 Amortization of deferred contract costs (5,381 ) Balances at March 31, 2019 $ 22,808 |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Fair Value Disclosures [Abstract] | |
Summary of Cash and Cash Equivalents and Investments' Costs, Gross Unrealized Gains (Losses), and Fair Value by Major Security Type Recorded as Cash and Cash Equivalents or Short-Term or Long-Term Investments | The following tables present our cash and cash equivalents’ and investments’ costs, gross unrealized gains (losses), and fair value by major security type recorded as cash and cash equivalents or short-term or long-term investments as of March 31, 2019 and December 31, 2018 (in thousands): As of March 31, 2019 Cost Gross Unrealized Gains Fair Value Cash and Cash Equivalents Short-term Investments Long-term Investments Cash $ 110,593 $ — $ 110,593 $ 110,593 $ — $ — Level 1: Money market funds 15,454 — 15,454 15,454 — — Subtotal 15,454 — 15,454 15,454 — — Level 2: Commercial paper 14,777 — 14,777 994 13,783 — Certificates of deposit 3,250 — 3,250 — 3,250 — U.S. Treasury and agency bonds 209,237 137 209,374 — 165,638 43,736 Corporate bonds 107,583 317 107,900 — 57,429 50,471 Subtotal 334,847 454 335,301 994 240,100 94,207 Level 3: — — — — — — Total $ 460,894 $ 454 $ 461,348 $ 127,041 $ 240,100 $ 94,207 As of December 31, 2018 Cost Gross Unrealized Losses Fair Value Cash and Short-term Investments Long-term Investments Cash $ 78,194 $ — $ 78,194 $ 78,194 $ — $ — Level 1: Money market funds 11,780 — 11,780 11,780 — — Subtotal 11,780 — 11,780 11,780 — — Level 2: Commercial paper 1,313 — 1,313 — 1,313 — Certificates of deposit 6,101 — 6,101 — 5,351 750 U.S. Treasury and agency bonds 220,136 (139 ) 219,997 — 158,204 61,793 Corporate bonds 108,968 (110 ) 108,858 — 74,850 34,008 Subtotal 336,518 (249 ) 336,269 — 239,718 96,551 Level 3: — — — — — — Total $ 426,492 $ (249 ) $ 426,243 $ 89,974 $ 239,718 $ 96,551 |
Reconciliation of Beginning and Ending Balances of Acquisition-Related Accrued Contingent Consideration | The following table presents a reconciliation of the beginning and ending balances of acquisition-related accrued contingent consideration using significant unobservable inputs (Level 3) for the three months ended March 31, 2019 and 2018 (in thousands): Three Months Ended March 31, 2019 2018 Beginning balance $ 2,143 $ 975 Obligations assumed — 1,200 Change in fair value — 293 Settlements (1,750 ) (656 ) Ending balance $ 393 $ 1,812 |
Goodwill and Intangible Assets
Goodwill and Intangible Assets (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Schedule of Change in Carrying Amount of Goodwill | The change in carrying amount of goodwill for the three months ended March 31, 2019 was as follows (in thousands): Goodwill as of December 31, 2018 $ 9,494 Goodwill recorded in connection with acquisition — Effects of foreign currency translation (19 ) Goodwill as of March 31, 2019 $ 9,475 |
Schedule of Intangible Assets | Intangible assets consisted of the following (in thousands, except years): As of March 31, 2019 Weighted- Average Useful Life in Years Gross Carrying Value Accumulated Amortization Net Carrying Value Customer relationships 6.9 $ 1,562 $ (281 ) $ 1,281 Completed technology 5.7 9,180 (3,468 ) 5,712 $ 10,742 $ (3,749 ) $ 6,993 As of December 31, 2018 Weighted- Gross Carrying Value Accumulated Amortization Net Carrying Value Customer relationships 6.9 $ 1,554 $ (221 ) $ 1,333 Completed technology 5.7 9,180 (3,022 ) 6,158 $ 10,734 $ (3,243 ) $ 7,491 |
Schedule of Intangible Asset Amortization Expense | We classified intangible asset amortization expense in the accompanying consolidated statements of income and comprehensive income as follows (in thousands): Three Months Ended March 31, 2019 2018 Cost of revenue $ 446 $ 446 Sales and marketing 59 31 Total $ 505 $ 477 |
Schedule of Finite-Lived Intangible Assets Estimated Remaining Amortization Expense | The following table presents our estimates of remaining amortization expense for finite-lived intangible assets at March 31, 2019 (in thousands): Remainder of 2019 $ 1,530 2020 1,721 2021 1,510 2022 964 2023 604 Thereafter 664 Total amortization expense $ 6,993 |
Convertible Senior Notes (Table
Convertible Senior Notes (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Debt Disclosure [Abstract] | |
Summary of Convertible Debt | The convertible senior notes consisted of the following (in thousands): As of March 31, 2019 Liability: Principal $ 230,000 Less: debt discount, net of amortization (53,655 ) Net carrying amount $ 176,345 Equity, net of issuance costs $ 57,251 |
Summary of Interest Expense | The following table sets forth interest expense recognized related to the convertible senior notes (in thousands, except effective interest rate): Three Months Ended Contractual interest expense $ 287 Amortization of debt issuance costs and discount 2,699 Total $ 2,986 Effective interest rate of the liability component 7.00 % |
Equity Awards (Tables)
Equity Awards (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Schedule of Stock Option Activity | Stock option activity during the three months ended March 31, 2019 consisted of the following (in thousands, except weighted-average information): Options Outstanding Weighted- Average Exercise Price Options outstanding at December 31, 2018 4,049 $ 12.48 Granted 261 68.26 Exercised (756 ) 11.92 Canceled/forfeited (230 ) 18.11 Options outstanding at March 31, 2019 3,324 $ 16.60 |
Schedule of RSU Activity | RSU activity during the three months ended March 31, 2019 consisted of the following (in thousands, except weighted-average information): Awards Outstanding Weighted- Average Grant Date Fair Value RSUs outstanding at December 31, 2018 1,215 $ 31.93 Granted 474 73.00 Vested (101 ) 28.22 Canceled/forfeited (106 ) 26.89 RSUs outstanding at March 31, 2019 1,482 $ 45.67 |
Schedule of Stock-based Compensation Expense | We classified stock-based compensation expense in the accompanying consolidated statements of income and comprehensive income as follows (in thousands): Three Months Ended March 31, 2019 2018 Cost of revenue $ 307 $ 139 Research and development 839 1,233 Sales and marketing 2,199 1,157 General and administrative 1,990 1,260 Total $ 5,335 $ 3,789 |
Leases (Tables)
Leases (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Leases [Abstract] | |
Lease-Related Assets and Liabilities | The table below presents lease-related assets and liabilities recorded on the condensed consolidated balance sheet (in thousands): Classification March 31, Assets Operating lease right-of-use assets Operating lease right-of-use assets $ 25,393 Liabilities Operating lease liabilities (current) Accrued expenses and other current liabilities $ 4,293 Operating lease liabilities (noncurrent) Operating lease liabilities 22,781 Total lease liabilities $ 27,074 |
Lease Costs and Supplemental Information | The following lease costs were included in our condensed consolidated statements of income and comprehensive income as follows (in thousands): Three Months Ended March 31, 2019 Operating lease cost $ 1,422 Short-term lease cost 244 Variable lease cost 351 Total lease cost $ 2,017 The table below presents supplemental information related to operating leases during the three months ended March 31, 2019 (in thousands, except weighted-average information): Cash paid for amounts included in the measurement of operating lease liabilities $ 1,187 Right-of-use assets obtained in exchange for new operating lease liabilities 24,787 Weighted average remaining lease term 5.8 years Weighted average discount rate 6.26 % |
Undiscounted Cash Flows for Operating Lease Liabilities | The table below reconciles the undiscounted cash flows for each of the first five years and total of the remaining years to the operating lease liabilities recorded on the condensed consolidated balance sheet as of March 31, 2019 (in thousands): Remainder of 2019 $ 4,380 2020 6,041 2021 5,506 2022 5,134 2023 4,158 2024 4,287 Thereafter 3,117 Total minimum lease payments 32,623 Less imputed interest (5,549 ) Present value of future minimum lease payments 27,074 Less current obligations under leases (4,293 ) Long-term lease obligations $ 22,781 |
Minimum Lease Payments Prior to Adoption of ASC 842 | Minimum lease payments under operating leases with non-cancelable terms in excess of one year as of December 31, 2018, were as follows (in thousands): 2019 $ 6,389 2020 6,781 2021 6,326 2022 6,276 2023 5,163 Thereafter 9,427 Total minimum lease payments $ 40,362 |
Income Taxes (Tables)
Income Taxes (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Income Tax Disclosure [Abstract] | |
Schedule of Provision for Income Taxes and Effective Tax Rates | The following table presents details of the benefit of income taxes and our effective tax rates (in thousands, except percentages): Three Months Ended March 31, 2019 2018 Benefit of income taxes $ (10,473 ) $ (1,446 ) Effective tax rate (229.7 )% 41.9 % |
Basic and Diluted Net Income _2
Basic and Diluted Net Income Per Share (Tables) | 3 Months Ended |
Mar. 31, 2019 | |
Earnings Per Share [Abstract] | |
Schedule of Net Income Per Share | The following table presents the computation of net income per share (in thousands, except per share amounts): Three Months Ended March 31, 2019 2018 Numerator: Net income attributable to common stockholders $ 5,914 $ 4,897 Denominator: Weighted-average shares used to compute net income per share attributable to common stockholders, basic 61,926 60,052 Effect of dilutive securities: Convertible senior notes 2,002 — Contingently issuable shares 11 33 Employee stock awards 3,539 3,391 Weighted-average shares used to compute net income per share attributable to common stockholders, diluted 67,478 63,476 Net income per share attributable to common stockholders, basic $ 0.10 $ 0.08 Net income per share attributable to common stockholders, diluted $ 0.09 $ 0.08 |
Revenues - Disaggregation of Re
Revenues - Disaggregation of Revenue (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Disaggregation of Revenue [Line Items] | ||
Revenue | $ 76,020 | $ 50,329 |
Cost of revenue | 8,000 | 5,004 |
United States | ||
Disaggregation of Revenue [Line Items] | ||
Revenue | 52,896 | 35,282 |
International | ||
Disaggregation of Revenue [Line Items] | ||
Revenue | 23,124 | 15,047 |
Subscription-based software license | ||
Disaggregation of Revenue [Line Items] | ||
Revenue | 34,807 | 22,475 |
Cost of revenue | 597 | 428 |
PCS and services | ||
Disaggregation of Revenue [Line Items] | ||
Revenue | 41,213 | 27,854 |
Cost of revenue | $ 7,403 | $ 4,576 |
Geographic Concentration Risk | Revenue from Contract with Customer | United Kingdom | ||
Disaggregation of Revenue [Line Items] | ||
Concentration risk, percent | 10.40% | 10.20% |
Revenues - Contract Assets and
Revenues - Contract Assets and Contract Liabilities (Details) - USD ($) | 3 Months Ended | |
Mar. 31, 2019 | Dec. 31, 2018 | |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||
Contract assets, current | $ 12,600,000 | $ 11,200,000 |
Contract assets, noncurrent | 21,900,000 | $ 16,500,000 |
Contract assets, impairment | 0 | |
Revenue recognized related to amounts that were included in deferred revenue | $ 35,800,000 | |
Minimum | ||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||
Transferred to receivables period | 12 months | |
Maximum | ||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||
Transferred to receivables period | 24 months |
Revenues - Assets Recognized fr
Revenues - Assets Recognized from Costs to Obtain Contracts with Customers (Details) | 3 Months Ended |
Mar. 31, 2019USD ($) | |
Change in Capitalized Contract Costs [Roll Forward] | |
Balances at December 31, 2018 | $ 22,391,000 |
Additional contract costs deferred | 5,798,000 |
Amortization of deferred contract costs | (5,381,000) |
Balances at March 31, 2019 | 22,808,000 |
Deferred contract costs expected to be amortized within the next 12 months | 11,900,000 |
Impairments of assets related to deferred contract costs | $ 0 |
Revenues - Remaining Performanc
Revenues - Remaining Performance Obligation (Details) $ in Millions | Mar. 31, 2019USD ($) |
Revenue from Contract with Customer [Abstract] | |
Remaining performance obligation | $ 214 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-04-01 | |
Revenue from Contract with Customer [Abstract] | |
Remaining performance obligation | $ 178.1 |
Fair Value Measurements - Summa
Fair Value Measurements - Summary of Cash and Cash Equivalents and Investments' Costs, Gross Unrealized Gains (Losses), and Fair Value by Major Security Type Recorded as Cash and Cash Equivalents or Short-Term or Long-Term Investments (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash and cash equivalents | $ 127,041 | $ 89,974 |
Short-term Investments | 240,100 | 239,718 |
Long-term Investments | 94,207 | 96,551 |
Fair Value, Measurements, Recurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash and cash equivalents | 127,041 | 89,974 |
Gross Unrealized Gains | 454 | |
Gross Unrealized Losses | (249) | |
Cash and cash equivalents and investment, cost | 460,894 | 426,492 |
Cash and cash equivalents and investments, fair value | 461,348 | 426,243 |
Short-term Investments | 240,100 | 239,718 |
Long-term Investments | 94,207 | 96,551 |
Fair Value, Measurements, Recurring | Cash | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash and cash equivalents | 110,593 | 78,194 |
Cash and cash equivalents, fair value | 110,593 | 78,194 |
Fair Value, Measurements, Recurring | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash and cash equivalents | 15,454 | 11,780 |
Cash and cash equivalents, fair value | 15,454 | 11,780 |
Fair Value, Measurements, Recurring | Level 1 | Money market funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash and cash equivalents | 15,454 | 11,780 |
Cash and cash equivalents, fair value | 15,454 | 11,780 |
Fair Value, Measurements, Recurring | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash and cash equivalents | 994 | |
Investments, cost | 334,847 | 336,518 |
Gross Unrealized Gains | 454 | |
Gross Unrealized Losses | (249) | |
Investments, fair value | 335,301 | 336,269 |
Short-term Investments | 240,100 | 239,718 |
Long-term Investments | 94,207 | 96,551 |
Fair Value, Measurements, Recurring | Level 2 | Commercial Paper | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash and cash equivalents | 994 | |
Investments, cost | 14,777 | 1,313 |
Gross Unrealized Gains | 0 | |
Gross Unrealized Losses | 0 | |
Investments, fair value | 14,777 | 1,313 |
Short-term Investments | 13,783 | 1,313 |
Long-term Investments | 0 | 0 |
Fair Value, Measurements, Recurring | Level 2 | Certificates of deposit | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investments, cost | 3,250 | 6,101 |
Gross Unrealized Gains | 0 | |
Gross Unrealized Losses | 0 | |
Investments, fair value | 3,250 | 6,101 |
Short-term Investments | 3,250 | 5,351 |
Long-term Investments | 0 | 750 |
Fair Value, Measurements, Recurring | Level 2 | U.S. Treasury and agency bonds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investments, cost | 209,237 | 220,136 |
Gross Unrealized Gains | 137 | |
Gross Unrealized Losses | (139) | |
Investments, fair value | 209,374 | 219,997 |
Short-term Investments | 165,638 | 158,204 |
Long-term Investments | 43,736 | 61,793 |
Fair Value, Measurements, Recurring | Level 2 | Corporate bonds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investments, cost | 107,583 | 108,968 |
Gross Unrealized Gains | 317 | |
Gross Unrealized Losses | (110) | |
Investments, fair value | 107,900 | 108,858 |
Short-term Investments | 57,429 | 74,850 |
Long-term Investments | 50,471 | 34,008 |
Fair Value, Measurements, Recurring | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investments, cost | 0 | 0 |
Gross Unrealized Gains | 0 | |
Gross Unrealized Losses | 0 | |
Investments, fair value | 0 | 0 |
Short-term Investments | 0 | 0 |
Long-term Investments | $ 0 | $ 0 |
Fair Value Measurements - Addit
Fair Value Measurements - Additional Information (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2019 | Mar. 31, 2018 | Dec. 31, 2018 | |
Fair Value Disclosures [Line Items] | |||
Gross unrealized losses | $ 100 | ||
Number of shares issued upon achievement of certain milestones (in shares) | 11,250 | ||
Number of shares previously earned and issued (in shares) | 10,205 | ||
Payment for to former shareholders upon achievement of certain milestones | $ 1,000 | $ 0 | |
Fair value of convertible senior notes | 456,900 | ||
Domestic Cash and Investments | |||
Fair Value Disclosures [Line Items] | |||
Cash and cash equivalents, restricted cash and investments | $ 442,500 | $ 417,900 | |
Minimum | |||
Fair Value Disclosures [Line Items] | |||
Long-term investments maturity period (in years) | 1 year | ||
Maximum | |||
Fair Value Disclosures [Line Items] | |||
Long-term investments maturity period (in years) | 2 years |
Fair Value Measurements - Recon
Fair Value Measurements - Reconciliation of Beginning and Ending Balances of Acquisition-Related Accrued Contingent Consideration (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Beginning balance | $ 2,143 | $ 975 |
Obligations assumed | 0 | 1,200 |
Change in fair value | 0 | 293 |
Settlements | (1,750) | (656) |
Ending balance | $ 393 | $ 1,812 |
Goodwill and Intangible Asset_2
Goodwill and Intangible Assets - Schedule of Change in Carrying Amount of Goodwill (Details) $ in Thousands | 3 Months Ended |
Mar. 31, 2019USD ($) | |
Goodwill [Roll Forward] | |
Goodwill as of December 31, 2018 | $ 9,494 |
Goodwill recorded in connection with acquisition | 0 |
Effects of foreign currency translation | (19) |
Goodwill as of March 31, 2019 | $ 9,475 |
Goodwill and Intangible Asset_3
Goodwill and Intangible Assets - Schedule of Intangible Assets (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2019 | Dec. 31, 2018 | |
Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Value | $ 10,742 | $ 10,734 |
Accumulated Amortization | (3,749) | (3,243) |
Net Carrying Value | $ 6,993 | $ 7,491 |
Customer relationships | ||
Finite-Lived Intangible Assets [Line Items] | ||
Weighted- Average Useful Life in Years | 6 years 11 months | 6 years 11 months |
Gross Carrying Value | $ 1,562 | $ 1,554 |
Accumulated Amortization | (281) | (221) |
Net Carrying Value | $ 1,281 | $ 1,333 |
Completed technology | ||
Finite-Lived Intangible Assets [Line Items] | ||
Weighted- Average Useful Life in Years | 5 years 8 months | 5 years 8 months |
Gross Carrying Value | $ 9,180 | $ 9,180 |
Accumulated Amortization | (3,468) | (3,022) |
Net Carrying Value | $ 5,712 | $ 6,158 |
Goodwill and Intangible Asset_4
Goodwill and Intangible Assets - Schedule of Intangible Asset Amortization Expense (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Finite-Lived Intangible Assets [Line Items] | ||
Amortization of intangible assets | $ 505 | $ 477 |
Cost of revenue | ||
Finite-Lived Intangible Assets [Line Items] | ||
Amortization of intangible assets | 446 | 446 |
Sales and marketing | ||
Finite-Lived Intangible Assets [Line Items] | ||
Amortization of intangible assets | $ 59 | $ 31 |
Goodwill and Intangible Asset_5
Goodwill and Intangible Assets - Schedule of Finite-Lived Intangible Assets Estimated Remaining Amortization Expense (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Goodwill and Intangible Assets Disclosure [Abstract] | ||
Remainder of 2019 | $ 1,530 | |
2020 | 1,721 | |
2021 | 1,510 | |
2022 | 964 | |
2023 | 604 | |
Thereafter | 664 | |
Net Carrying Value | $ 6,993 | $ 7,491 |
Convertible Senior Notes - Addi
Convertible Senior Notes - Additional Information (Details) | 3 Months Ended | |
Mar. 31, 2019USD ($)$ / option | Jun. 30, 2018USD ($)day$ / shares | |
Derivative [Line Items] | ||
Capped calls, cost | $ | $ (19,100,000) | |
Capped calls, deferred tax asset | $ | 4,600,000 | |
Convertible Senior Notes | Convertible Senior Notes due 2023, 0.5% | ||
Debt Instrument [Line Items] | ||
Aggregate principal amount | $ | $ 230,000,000 | $ 230,000,000 |
Interest rate | 0.50% | |
Debt conversion ratio | 0.0225572 | |
Convertible debt, conversion price (in dollars per share) | $ / shares | $ 44.33 | |
If-converted value in excess of principal | $ | $ 205,100,000 | |
Convertible Senior Notes | Convertible Senior Notes due 2023, 0.5% | Debt Instrument, Conversion, Option One | ||
Debt Instrument [Line Items] | ||
Convertible debt, threshold trading days | day | 20 | |
Convertible debt, threshold consecutive trading days | day | 30 | |
Convertible debt, threshold percentage of stock price trigger | 130.00% | |
Convertible Senior Notes | Convertible Senior Notes due 2023, 0.5% | Debt Instrument, Conversion, Option Two | ||
Debt Instrument [Line Items] | ||
Convertible debt, threshold trading days | day | 5 | |
Convertible debt, threshold consecutive trading days | day | 5 | |
Convertible debt, threshold percentage of stock price trigger | 98.00% | |
Convertible Senior Notes | Convertible Senior Notes due 2023, 0.5% | Debt Instrument, Conversion, Option Three | ||
Debt Instrument [Line Items] | ||
Convertible debt, threshold consecutive trading days | day | 10 | |
Convertible Senior Notes | Convertible Senior Notes due 2023, Over-Allotment Option, 0.5% | ||
Debt Instrument [Line Items] | ||
Aggregate principal amount | $ | $ 30,000,000 | |
Price Risk Derivative | ||
Derivative [Line Items] | ||
Capped calls, initial strike price (in dollars per share) | $ / option | 44.33 | |
Capped calls, cap price (in dollars per share) | $ / option | 62.22 |
Convertible Senior Notes - Summ
Convertible Senior Notes - Summary of Debt (Details) - Convertible Senior Notes - Convertible Senior Notes due 2023, 0.5% - USD ($) | Mar. 31, 2019 | Jun. 30, 2018 |
Debt Instrument [Line Items] | ||
Principal | $ 230,000,000 | $ 230,000,000 |
Less: debt discount, net of amortization | (53,655,000) | |
Net carrying amount | 176,345,000 | |
Equity, net of issuance costs | $ 57,251,000 |
Convertible Senior Notes - Su_2
Convertible Senior Notes - Summary of Interest Expense (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Debt Instrument [Line Items] | ||
Amortization of debt issuance costs and discount | $ 2,699 | $ 0 |
Convertible Senior Notes | Convertible Senior Notes due 2023, 0.5% | ||
Debt Instrument [Line Items] | ||
Contractual interest expense | 287 | |
Amortization of debt issuance costs and discount | 2,699 | |
Total | $ 2,986 | |
Effective interest rate of the liability component | 7.00% |
Equity Awards - Schedule of Sto
Equity Awards - Schedule of Stock Option Activity (Details) shares in Thousands | 3 Months Ended |
Mar. 31, 2019$ / sharesshares | |
Options Outstanding | |
Options outstanding, beginning balance (in shares) | shares | 4,049 |
Granted (in shares) | shares | 261 |
Exercised (in shares) | shares | (756) |
Canceled/forfeited (in shares) | shares | (230) |
Options outstanding, ending balance (in shares) | shares | 3,324 |
Weighted-Average Exercise Price | |
Weighted-average exercise price, beginning balance (in dollars per share) | $ / shares | $ 12.48 |
Weighted-average exercise price, granted (in dollars per share) | $ / shares | 68.26 |
Weighted-average exercise price, exercised (in dollars per share) | $ / shares | 11.92 |
Weighted-average exercise price, canceled/forfeited (in dollars per share) | $ / shares | 18.11 |
Weighted-average exercise price, ending balance (in dollars per share) | $ / shares | $ 16.60 |
Equity Awards - Additional Info
Equity Awards - Additional Information (Details) $ in Millions | 3 Months Ended |
Mar. 31, 2019USD ($) | |
Stock Options | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Unrecognized compensation cost related to unvested stock options | $ 17.1 |
Weighted-average period, expected to be recognized (in years) | 2 years 5 months 15 days |
Restricted Stock Units | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Weighted-average period, expected to be recognized (in years) | 2 years 10 months 24 days |
Unrecognized compensation expense, related to unvested RSUs | $ 59.6 |
Equity Awards - Schedule of RSU
Equity Awards - Schedule of RSU Activity (Details) - Restricted Stock Units shares in Thousands | 3 Months Ended |
Mar. 31, 2019$ / sharesshares | |
Awards Outstanding | |
Beginning balance (in shares) | shares | 1,215 |
Granted (in shares) | shares | 474 |
Vested (in shares) | shares | (101) |
Canceled/forfeited (in shares) | shares | (106) |
Ending balance (in shares) | shares | 1,482 |
Weighted-Average Grant Date Fair Value | |
Beginning balance (in dollars per share) | $ / shares | $ 31.93 |
Granted (in dollars per share) | $ / shares | 73 |
Vested (in dollars per share) | $ / shares | 28.22 |
Canceled/forfeited (in dollars per share) | $ / shares | 26.89 |
Ending balance (in dollars per share) | $ / shares | $ 45.67 |
Equity Awards - Schedule of S_2
Equity Awards - Schedule of Stock-based Compensation Expense (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ||
Total | $ 5,335 | $ 3,789 |
Cost of revenue | ||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ||
Total | 307 | 139 |
Research and development | ||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ||
Total | 839 | 1,233 |
Sales and marketing | ||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ||
Total | 2,199 | 1,157 |
General and administrative | ||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ||
Total | $ 1,990 | $ 1,260 |
Leases - Lease-Related Assets a
Leases - Lease-Related Assets and Liabilities (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Leases [Abstract] | ||
Operating lease right-of-use assets | $ 25,393 | $ 0 |
Operating lease liabilities (current) | 4,293 | |
Operating lease liabilities (noncurrent) | 22,781 | $ 0 |
Total lease liabilities | $ 27,074 |
Leases - Lease Costs (Details)
Leases - Lease Costs (Details) $ in Thousands | 3 Months Ended |
Mar. 31, 2019USD ($) | |
Leases [Abstract] | |
Operating lease cost | $ 1,422 |
Short-term lease cost | 244 |
Variable lease cost | 351 |
Total lease cost | $ 2,017 |
Leases - Supplemental Informati
Leases - Supplemental Information (Details) - USD ($) $ in Thousands | Jan. 01, 2019 | Mar. 31, 2019 |
Leases [Abstract] | ||
Cash paid for amounts included in the measurement of operating lease liabilities | $ 1,187 | |
Right-of-use assets obtained in exchange for new operating lease liabilities | $ 24,787 | $ 1,604 |
Weighted average remaining lease term | 5 years 10 months | |
Weighted average discount rate | 6.26% |
Leases - Undiscounted Cash Flow
Leases - Undiscounted Cash Flows (Details) - USD ($) $ in Thousands | Mar. 31, 2019 | Dec. 31, 2018 |
Leases [Abstract] | ||
Remainder of 2019 | $ 4,380 | |
2020 | 6,041 | |
2021 | 5,506 | |
2022 | 5,134 | |
2023 | 4,158 | |
2024 | 4,287 | |
Thereafter | 3,117 | |
Total minimum lease payments | 32,623 | |
Less imputed interest | (5,549) | |
Present value of future minimum lease payments | 27,074 | |
Less current obligations under leases | (4,293) | |
Operating lease liabilities | $ 22,781 | $ 0 |
Leases - Minimum Payments Prior
Leases - Minimum Payments Prior to Adoption of ASC 842 (Details) $ in Thousands | Dec. 31, 2018USD ($) |
Leases [Abstract] | |
2019 | $ 6,389 |
2020 | 6,781 |
2021 | 6,326 |
2022 | 6,276 |
2023 | 5,163 |
Thereafter | 9,427 |
Total minimum lease payments | $ 40,362 |
Contingencies (Details)
Contingencies (Details) - USD ($) | Mar. 31, 2019 | Dec. 31, 2018 |
Indemnification | ||
Commitments And Contingencies [Line Items] | ||
Loss contingency accrual | $ 0 | $ 0 |
Income Taxes - Schedule of Prov
Income Taxes - Schedule of Provision for Income Taxes and Effective Tax Rates (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2019 | Mar. 31, 2018 | |
Debt Instrument [Line Items] | ||
Benefit of income taxes | $ (10,473) | $ (1,446) |
Effective tax rate | (229.70%) | 41.90% |
Discrete tax benefit related to excess tax benefits from stock option deductions | $ 9,500 |
Basic and Diluted Net Income _3
Basic and Diluted Net Income Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | ||
Mar. 31, 2019 | Mar. 31, 2018 | Jun. 30, 2018 | |
Numerator: | |||
Net income attributable to common stockholders | $ 5,914 | $ 4,897 | |
Denominator: | |||
Weighted-average shares used to compute net income per share attributable to common stockholders, basic (in shares) | 61,926 | 60,052 | |
Effect of dilutive securities: | |||
Convertible senior notes (in shares) | 2,002 | 0 | |
Contingently issuable shares (in shares) | 11 | 33 | |
Employee stock awards (in shares) | 3,539 | 3,391 | |
Weighted-average shares used to compute net income per share attributable to common stockholders, diluted (in shares) | 67,478 | 63,476 | |
Net income per share attributable to common stockholders, basic (in dollars per share) | $ 0.10 | $ 0.08 | |
Net income per share attributable to common stockholders, diluted (in dollars per share) | $ 0.09 | $ 0.08 | |
Stock Awards | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Securities excluded from calculation of earnings per share (in shares) | 200 | 900 | |
Convertible Senior Notes | Convertible Senior Notes due 2023, 0.5% | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Convertible debt, conversion price (in dollars per share) | $ 44.33 |
Subsequent Event (Details)
Subsequent Event (Details) - ClearStory Data Inc. - Subsequent Event $ in Millions | Apr. 04, 2019USD ($) |
Subsequent Event [Line Items] | |
Business combination acquired percentage | 100.00% |
Total consideration | $ 20 |
Uncategorized Items - ayx-20190
Label | Element | Value |
Accounting Standards Update 2014-09 [Member] | ||
Cumulative Effect of New Accounting Principle in Period of Adoption | us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption | $ 64,197,000 |
Accounting Standards Update 2014-09 [Member] | Retained Earnings [Member] | ||
Cumulative Effect of New Accounting Principle in Period of Adoption | us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption | 64,197,000 |
Accounting Standards Update, All Other [Member] | ||
Cumulative Effect of New Accounting Principle in Period of Adoption | us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption | (1,438,000) |
Accounting Standards Update, All Other [Member] | Additional Paid-in Capital [Member] | ||
Cumulative Effect of New Accounting Principle in Period of Adoption | us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption | 141,000 |
Accounting Standards Update, All Other [Member] | Retained Earnings [Member] | ||
Cumulative Effect of New Accounting Principle in Period of Adoption | us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption | $ (1,579,000) |