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AYX Alteryx

Cover Page

Cover Page - shares3 Months Ended
Mar. 31, 2021Apr. 27, 2021
Document Information [Line Items]
Document Type10-Q
Document Quarterly Reporttrue
Document Period End DateMar. 31,
2021
Document Transition Reportfalse
Entity File Number001-38034
Entity Registrant NameAlteryx, Inc.
Entity Incorporation, State or Country CodeDE
Entity Tax Identification Number90-0673106
Entity Address, Address Line One3345 Michelson Drive,
Entity Address, Address Line TwoSuite 400,
Entity Address, City or TownIrvine,
Entity Address, State or ProvinceCA
Entity Address, Postal Zip Code92612
City Area Code888
Local Phone Number836-4274
Title of 12(b) SecurityClass A Common Stock, $0.0001 par value per share
Trading SymbolAYX
Security Exchange NameNYSE
Entity Current Reporting StatusYes
Entity Interactive Data CurrentYes
Entity Filer CategoryLarge Accelerated Filer
Entity Small Businessfalse
Entity Emerging Growth Companyfalse
Entity Shell Companyfalse
Amendment Flagfalse
Document Fiscal Year Focus2021
Document Fiscal Period FocusQ1
Entity Central Index Key0001689923
Current Fiscal Year End Date--12-31
Class A common stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding59,220,728
Class B common stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding7,908,630

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Income Loss - USD ($) shares in Thousands, $ in Thousands3 Months Ended
Mar. 31, 2021Mar. 31, 2020
Revenue:
Total revenue $ 118,759 $ 108,831
Cost of revenue:
Total cost of revenue10,841 13,047
Gross profit107,918 95,784
Operating expenses:
Research and development31,322 26,181
Sales and marketing71,907 65,165
General and administrative33,500 24,543
Total operating expenses136,729 115,889
Loss from operations(28,811)(20,105)
Interest expense(9,598)(9,303)
Other expense, net(1,254)(2,462)
Loss before provision for (benefit of) income taxes(39,663)(31,870)
Provision for (benefit of) income taxes993 (16,397)
Net loss $ (40,656) $ (15,473)
Net income (loss) per share attributable to common stockholders, basic (in dollars per share) $ (0.61) $ (0.24)
Net income (loss) per share attributable to common stockholders, diluted (in dollars per share) $ (0.61) $ (0.24)
Weighted-average shares used to compute net income (loss) per share attributable to common stockholders, basic (in shares)66,932 65,569
Weighted-average shares used to compute net income (loss) per share attributable to common stockholders, diluted (in shares)66,932 65,569
Other comprehensive income (loss), net of tax:
Net unrealized holding gain (loss) on investments, net of tax $ (598) $ 1,243
Foreign currency translation adjustments(662)998
Other comprehensive income (loss), net of tax(1,260)2,241
Total comprehensive loss(41,916)(13,232)
Subscription-based software license
Revenue:
Total revenue43,358 50,744
Cost of revenue:
Total cost of revenue1,249 1,981
PCS and services
Revenue:
Total revenue75,401 58,087
Cost of revenue:
Total cost of revenue $ 9,592 $ 11,066

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in ThousandsMar. 31, 2021Dec. 31, 2020
Current assets:
Cash and cash equivalents $ 253,760 $ 171,891
Short-term investments585,737 584,445
Accounts receivable, net60,502 136,985
Prepaid expenses and other current assets87,725 79,144
Total current assets987,724 972,465
Property and equipment, net43,914 40,645
Operating lease right-of-use assets61,988 62,508
Long-term investments192,330 265,800
Goodwill37,040 37,070
Intangible assets, net15,046 16,191
Other assets77,705 70,616
Total assets1,415,747 1,465,295
Current liabilities:
Accounts payable5,950 5,340
Accrued payroll and payroll related liabilities32,519 46,569
Accrued expenses and other current liabilities31,642 34,987
Deferred revenue95,260 108,664
Convertible senior notes, net73,762 72,619
Total current liabilities239,133 268,179
Convertible senior notes, net664,350 657,501
Deferred revenue3,354 3,806
Operating lease liabilities52,277 53,860
Other liabilities5,147 5,158
Total liabilities964,261 988,504
Stockholders’ equity:
Preferred stock, $0.0001 par value: 10,000 shares authorized as of March 31, 2021 and December 31, 2020, respectively; no shares issued and outstanding as of March 31, 2021 and December 31, 2020, respectively0 0
Common stock, $0.0001 par value: 500,000 Class A shares authorized, 59,067 and 58,634 shares issued and outstanding as of March 31, 2021 and December 31, 2020, respectively; 500,000 Class B shares authorized, 8,004 and 8,108 shares issued and outstanding as of March 31, 2021 and December 31, 2020, respectively7 7
Additional paid-in capital505,636 489,025
Accumulated deficit(51,404)(10,748)
Accumulated other comprehensive loss(2,753)(1,493)
Total stockholders’ equity451,486 476,791
Total liabilities and stockholders’ equity $ 1,415,747 $ 1,465,295

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / sharesMar. 31, 2021Dec. 31, 2020
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 (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)59,067,000 58,634,000
Common stock, shares outstanding (in shares)59,067,000 58,634,000
Class B common stock
Common stock, par value (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)8,004,000 8,108,000
Common stock, shares outstanding (in shares)8,004,000 8,108,000

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Stockholders' Equity - USD ($) shares in Thousands, $ in ThousandsTotalCommon StockAdditional Paid-in CapitalAccumulated DeficitAccumulated Other Comprehensive LossCumulative effect of adoption of ASC 326Cumulative effect of adoption of ASC 326Accumulated Deficit
Beginning balance (in shares) at Dec. 31, 201965,260
Beginning balance at Dec. 31, 2019 $ 424,907 $ 7 $ 412,191 $ 14,235 $ (1,526) $ (609) $ (609)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares issued pursuant to restricted stock awards, net of tax withholdings related to vesting of restricted stock units (in shares)143
Shares issued pursuant to restricted stock unit awards, net of tax withholdings related to vesting of restricted stock units(9,945)(9,945)
Exercise of stock options and issuance of shares in connection with employee stock purchase plan (in shares)482
Exercise of stock options and issuance of shares in connection with employee stock purchase plan11,600 11,600
Stock-based compensation13,664 13,664
Cumulative translation adjustment998 998
Unrealized gain (loss) on investments, net of tax1,243 1,243
Net loss(15,473)(15,473)
Ending balance (in shares) at Mar. 31, 202065,885
Ending balance at Mar. 31, 2020426,385 $ 7 427,510 (1,847)715
Beginning balance (in shares) at Dec. 31, 202066,742
Beginning balance at Dec. 31, 2020476,791 $ 7 489,025 (10,748)(1,493)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares issued pursuant to restricted stock awards, net of tax withholdings related to vesting of restricted stock units (in shares)204
Shares issued pursuant to restricted stock unit awards, net of tax withholdings related to vesting of restricted stock units(13,071)(13,071)
Exercise of stock options and issuance of shares in connection with employee stock purchase plan (in shares)125
Exercise of stock options and issuance of shares in connection with employee stock purchase plan5,243 5,243
Stock-based compensation24,439 24,439
Cumulative translation adjustment(662)(662)
Unrealized gain (loss) on investments, net of tax(598)(598)
Net loss(40,656)(40,656)
Ending balance (in shares) at Mar. 31, 202167,071
Ending balance at Mar. 31, 2021 $ 451,486 $ 7 $ 505,636 $ (51,404) $ (2,753)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands3 Months Ended
Mar. 31, 2021Mar. 31, 2020
Cash flows from operating activities:
Net income (loss) $ (40,656) $ (15,473)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization3,683 2,760
Non-cash operating lease cost3,022 1,757
Stock-based compensation24,439 13,664
Amortization (accretion) of discounts and premiums on investments, net1,324 (606)
Amortization of debt discount and issuance costs7,992 7,675
Deferred income taxes433 (16,628)
Other non-cash operating activities, net153 7,509
Changes in operating assets and liabilities:
Accounts receivable76,680 74,901
Deferred commissions451 461
Prepaid expenses, other current assets, and other assets(16,253)(20,371)
Accounts payable761 4,285
Accrued payroll and payroll related liabilities(13,924)(29,690)
Accrued expenses, other current liabilities, operating lease liabilities, and other liabilities(8,271)(4,919)
Deferred revenue(13,866)(5,350)
Net cash provided by operating activities25,968 19,975
Cash flows from investing activities:
Purchases of property and equipment(5,643)(4,976)
Purchases of investments(144,701)(313,611)
Sales and maturities of investments214,955 116,691
Net cash provided by (used in) investing activities64,611 (201,896)
Cash flows from financing activities:
Proceeds from exercise of stock options5,243 11,600
Minimum tax withholding paid on behalf of employees for restricted stock units(13,071)(9,945)
Other financing activity0 (433)
Net cash provided by (used in) financing activities(7,828)1,222
Effect of exchange rate changes on cash, cash equivalents and restricted cash(207)(1,228)
Net increase (decrease) in cash, cash equivalents and restricted cash82,544 (181,927)
Cash, cash equivalents and restricted cash—beginning of period173,665 411,424
Cash, cash equivalents and restricted cash—end of period256,209 229,497
Supplemental disclosure of cash flow information:
Cash paid for interest3,000 2,817
Cash paid for income taxes716 529
Cash paid for amounts included in the measurement of operating lease liabilities3,447 2,061
Supplemental disclosure of noncash investing and financing activities:
Property and equipment recorded in accounts payable and accrued expenses and other current liabilities2,664 3,167
Right-of-use assets obtained in exchange for new operating lease liabilities $ 2,624 $ 14,400

Business

Business3 Months Ended
Mar. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BusinessBusiness Our Company Alteryx, Inc. and its subsidiaries, or we, our, or us, is a leader in Analytic Process Automation, or APA. The Alteryx APA software platform unifies analytics, data science and business process automation in one self-service platform to accelerate digital transformation, deliver high-impact business outcomes, accelerate the democratization of data and rapidly upskill modern workforces. Data workers, regardless of technical acumen, are empowered to be curious and solve problems. With the Alteryx APA software platform, users can automate the full range of analytics, data science and processes, embed intelligent decision-making and actions, and empower their organization to enable top and bottom line impact, efficiency gains, and rapid upskilling. 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, 2020 filed with the Securities and Exchange Commission, or SEC, on February 12, 2021. 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. The operating results for the three months ended March 31, 2021 are not necessarily indicative of the results expected for the full year ending December 31, 2021.

Significant Accounting Policies

Significant Accounting Policies3 Months Ended
Mar. 31, 2021
Accounting Policies [Abstract]
Significant Accounting PoliciesSignificant 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, 2020. 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 these estimates and assumptions, including those related to determination of standalone selling prices of our products and services, income tax valuations, stock-based compensation, and goodwill and intangible assets valuations and recoverability. We base our estimates 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. Due to the COVID-19 pandemic, there has been continued uncertainty and disruption in the global economy and financial markets. The extent of the impact of COVID-19 on our operational and financial performance will depend on certain developments, including the duration and spread of the pandemic and the impact on our customers, prospective customers, sales cycles, and employees as well as the availability, adoption, and efficacy of available vaccines, all of which are uncertain and cannot be predicted. We are not aware of any specific event or circumstance that would require an update to our estimates or assumptions or a revision of the carrying value of our assets or liabilities as of the date of this Quarterly Report on Form 10-Q. These estimates and assumptions may change as new events occur and additional information is obtained. As a result, actual results could differ materially from these estimates and assumptions. 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. Recently Adopted Accounting Pronouncements In December 2019, the Financial Accounting Standards Board, or FASB, issued Accounting Standards Update, or ASU, 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxe s. ASU 2019-12 removes certain exceptions for recognizing deferred taxes for investments, performing intraperiod allocations and calculating income taxes in interim periods. The standard also adds guidance to reduce complexity in certain areas, including recognizing deferred taxes for tax goodwill, allocating taxes to members of a consolidated group, and the recognition of deferred tax liabilities for outside basis differences. We adopted ASU 2019-12 prospectively as of the reporting period beginning January 1, 2021. Adoption of this update did not have a material impact on our condensed consolidated financial statements and related disclosures. Recently Issued Accounting Pronouncements In August 2020, the FASB issued ASU 2020-06, Debt - Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging - Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity , or ASU 2020-06, which simplifies the accounting for convertible instruments by removing certain separation models required under current U.S. GAAP, including the beneficial conversion feature and cash conversion models. ASU 2020-06 removes certain settlement conditions that are required for equity contracts to qualify for the derivative scope exception and it also simplifies the diluted earnings per share calculation in certain areas. This guidance will be effective for us for annual reporting periods beginning after December 15, 2021 and for interim periods within those annual periods, and can be applied utilizing either a modified or full retrospective transition method. Early adoption is permitted in the first interim period of a fiscal year. We currently account for our Notes (as defined and described in Note 7, Convertible Senior Notes ) utilizing the cash conversion model. We intend to adopt this standard in the first quarter of 2022 and are currently evaluating the impact of adopting this guidance. We currently expect that the adoption will have a material impact on our condensed consolidated financial statements and related disclosures.

Revenue

Revenue3 Months Ended
Mar. 31, 2021
Revenue from Contract with Customer [Abstract]
RevenueRevenue Disaggregation of Revenue The disaggregation of revenue by region was as follows (in thousands): Three Months Ended March 31, 2021 2020 Revenue by region: United States $ 77,237 $ 80,535 International 41,522 28,296 Total $ 118,759 $ 108,831 Revenue attributable to the United Kingdom comprised 13.1% of the total revenue for the three months ended March 31, 2021. Other than the United Kingdom for the three months ended March 31, 2021, no other country 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, 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 related to 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 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 less than 5% 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, 2021, our contract assets are expected to be transferred to receivables within the next 12 to 24 months and, with respect to these contract assets, $31.0 million is included in prepaid expenses and other current assets and $43.5 million is included in other assets on our condensed consolidated balance sheet. As of December 31, 2020, we had contract assets of $25.4 million included in prepaid expenses and other current assets and $37.2 million included in other assets on our consolidated balance sheet. There were no impairments of contract assets during each of the three months ended March 31, 2021 and 2020. During the three months ended March 31, 2021 and 2020, we recognized $51.8 million and $38.1 million, respectively, of revenue related to amounts that were included in deferred revenue as of December 31, 2020 and 2019, respectively. 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. This primarily consists of sales commissions and partner referral fees that are earned upon execution of the related contracts. We amortize these deferred commissions, which include partner referral fees, proportionate with related revenues over the benefit period. A summary of the activity impacting our deferred commissions during the three months ended March 31, 2021 and 2020 is presented below (in thousands): Three Months Ended March 31, 2021 2020 Beginning balance $ 51,186 $ 43,035 Additional deferred commissions 9,101 7,899 Amortization of deferred commissions (9,558) (8,331) Effects of foreign currency translation (102) (747) Ending balance $ 50,627 $ 41,856 As of March 31, 2021 and 2020, $25.2 million and $17.9 million, respectively, of our deferred commissions were expected to be amortized within the next 12 months and therefore were included in prepaid expenses and other current assets. The remaining amount of our deferred commissions is included in other assets. There were no impairments of assets related to deferred commissions during each of the three months ended March 31, 2021 and 2020. There were no assets recognized related to the costs to fulfill contracts during each of the three months ended March 31, 2021 and 2020 as these costs were not material. Remaining Performance Obligations Transaction price allocated to the remaining performance obligations represents contracted revenue that has not yet been recognized, which includes deferred revenue on our condensed consolidated balance sheets and unbilled amounts that will be recognized as revenue in future periods. As of March 31, 2021, we had an aggregate transaction price of $452.6 million allocated to unsatisfied performance obligations related primarily to PCS, cloud-based offerings, and subscriptions to third-party syndicated data. We expect to recognize $412.0 million as revenue over the next 24 months, with the remaining amount recognized thereafter.

Fair Value Measurements

Fair Value Measurements3 Months Ended
Mar. 31, 2021
Fair Value Disclosures [Abstract]
Fair Value MeasurementsFair 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, 2021 and December 31, 2020 (in thousands): As of March 31, 2021 Cost Net Fair Value Cash and Short-term Long-term Cash $ 97,419 $ — $ 97,419 $ 97,419 $ — $ — Level 1: Money market funds $ 82,249 $ — $ 82,249 $ 82,249 $ — $ — Subtotal $ 82,249 $ — $ 82,249 $ 82,249 $ — $ — Level 2: Commercial paper $ 201,966 $ (5) $ 201,961 $ 74,092 $ 127,869 $ — Certificates of deposit 5,095 1 5,096 — 1,595 3,501 U.S. Treasury and agency bonds 503,602 842 504,444 — 382,554 121,890 Corporate bonds 140,533 125 140,658 — 73,719 66,939 Subtotal $ 851,196 $ 963 $ 852,159 $ 74,092 $ 585,737 $ 192,330 Level 3: $ — $ — $ — $ — $ — $ — Total $ 1,030,864 $ 963 $ 1,031,827 $ 253,760 $ 585,737 $ 192,330 As of December 31, 2020 Cost Net Fair Value Cash and Short-term Long-term Cash $ 88,991 $ — $ 88,991 $ 88,991 $ — $ — Level 1: Money market funds $ 35,010 $ — $ 35,010 $ 35,010 $ — $ — Subtotal $ 35,010 $ — $ 35,010 $ 35,010 $ — $ — Level 2: Commercial paper $ 161,124 $ (8) $ 161,116 $ 46,491 $ 114,625 $ — Certificates of deposit 2,800 — 2,800 — 2,800 — U.S. Treasury and agency bonds 554,860 1,220 556,080 1,399 358,822 195,859 Corporate bonds 177,790 349 178,139 — 108,198 69,941 Subtotal $ 896,574 $ 1,561 $ 898,135 $ 47,890 $ 584,445 $ 265,800 Level 3: $ — $ — $ — $ — $ — $ — Total $ 1,020,575 $ 1,561 $ 1,022,136 $ 171,891 $ 584,445 $ 265,800 All long-term investments had maturities of between one As of March 31, 2021, we had gross unrealized losses of less than $0.1 million with respect to our available-for-sale securities, and we do not intend to sell, nor is it more likely than not that we will be required to sell, these investments before recovery of their amortized cost basis. These gross unrealized losses were classified in accumulated other comprehensive loss in our condensed consolidated balance sheets as of March 31, 2021.

Allowance for Doubtful Accounts

Allowance for Doubtful Accounts and Sales Reserves3 Months Ended
Mar. 31, 2021
Credit Loss [Abstract]
Allowance for Doubtful Accounts and Sales ReservesAllowance for Doubtful Accounts and Sales Reserves The following table summarizes the changes in the allowances applied to accounts receivable and contract assets for the three months ended March 31, 2021 (in thousands): Accounts Receivable Reserve Contract Asset Reserve Balance at December 31, 2020 $ 3,114 $ 2,438 Provision 371 574 Recoveries (359) (64) Charge-offs (148) (8) Balance at March 31, 2021 $ 2,978 $ 2,940

Goodwill and Intangible Assets

Goodwill and Intangible Assets3 Months Ended
Mar. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible AssetsGoodwill and Intangible Assets The change in carrying amount of goodwill for the three months ended March 31, 2021 was as follows (in thousands): Goodwill as of December 31, 2020 $ 37,070 Effects of foreign currency translation (30) Goodwill as of March 31, 2021 $ 37,040 Intangible assets consisted of the following (in thousands, except years): As of March 31, 2021 Weighted- Gross Carrying Accumulated Net Carrying Customer relationships 7.0 $ 1,634 $ (729) $ 905 Developed technology 5.7 21,790 (7,649) 14,141 $ 23,424 $ (8,378) $ 15,046 As of December 31, 2020 Weighted- Gross Carrying Accumulated Net Carrying Customer relationships 7.0 $ 1,652 $ (678) $ 974 Developed technology 5.7 21,780 (6,563) 15,217 $ 23,432 $ (7,241) $ 16,191 During the three months ended March 31, 2020, we recorded an impairment charge of $2.0 million related to certain developed technology assets, due to our strategic decision to discontinue further investment and enhancements in the standalone existing technology. We classified intangible asset amortization expense in the accompanying condensed consolidated statements of operations and comprehensive loss as follows (in thousands): Three Months Ended March 31, 2021 2020 Cost of revenue $ 1,082 $ 1,118 Sales and marketing 58 50 Total $ 1,140 $ 1,168 The following table presents our estimates of remaining amortization expense for finite-lived intangible assets at March 31, 2021 (in thousands): Remainder of 2021 $ 3,481 2022 4,620 2023 2,628 2024 1,952 2025 1,377 Thereafter 988 Total amortization expense $ 15,046

Convertible Senior Notes

Convertible Senior Notes3 Months Ended
Mar. 31, 2021
Debt Disclosure [Abstract]
Convertible Senior NotesConvertible Senior Notes The following table presents details of our convertible senior notes, which are further discussed below (original principal in thousands): Month Issued Maturity Date Original Principal (including over-allotment) Coupon Interest Rate Effective Interest Rate Conversion Rate Initial Conversion Price 2023 Notes May and June 2018 June 1, 2023 $ 230,000 0.5 % 7.00 % $ 22.5572 $ 44.33 2024 Notes August 2019 August 1, 2024 $ 400,000 0.5 % 4.96 % $ 5.2809 $ 189.36 2026 Notes August 2019 August 1, 2026 $ 400,000 1.0 % 5.41 % $ 5.2809 $ 189.36 As further defined and described below, the 2024 Notes and the 2026 Notes are together referred to as the 2024 & 2026 Notes, and the 2023 Notes and the 2024 & 2026 Notes are collectively referred to as the 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 2023 Notes, including the initial purchasers’ exercise in full of their option to purchase an additional $30.0 million of the 2023 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 2023 Notes are our senior, unsecured obligations, and interest is payable semi-annually in arrears on June 1 and December 1 of each year beginning December 1, 2018. In August 2019, we sold $400.0 million aggregate principal amount of our 0.50% Convertible Senior Notes due 2024, or the 2024 Notes, and $400.0 million aggregate principal amount of our 1.00% Convertible Senior Notes due 2026, or the 2026 Notes, including the initial purchasers’ exercise in full of their options to purchase an additional $50.0 million of the 2024 Notes and an additional $50.0 million of the 2026 Notes, in a private offering to qualified institutional buyers pursuant to Rule 144A promulgated under the Act. The 2024 & 2026 Notes are our senior, unsecured obligations, and interest is payable semi-annually in arrears on February 1 and August 1 of each year beginning February 1, 2020. Prior to the close of business on the business day immediately preceding March 1, 2023, or the 2023 Conversion Date, in the case of the 2023 Notes, or May 1, 2024, or the 2024 Conversion Date, in the case of the 2024 Notes, or May 1, 2026, or the 2026 Conversion Date, in the case of the 2026 Notes, the respective 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 relevant maturity date. The applicable conversion rate is subject to customary adjustments for certain events as described in the applicable indenture between us and U.S. Bank National Association, as trustee, or, collectively, the Indentures. Upon conversion, the 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 Notes with cash. During the years ended December 31, 2019 and 2020, a portion of the 2023 Notes were exchanged, as further discussed below. Prior to the close of business on the business day immediately preceding the applicable Conversion Date, the applicable series of Notes is convertible at the option of the holders under the following circumstances: • during any calendar quarter commencing after the calendar quarter subsequent to the calendar quarter in which the applicable series of Notes was issued (and only during such calendar quarter), if the last reported sale price of our 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 applicable conversion price of the applicable series of 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 the applicable series of Notes for each day of that five 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 applicable conversion rate of the applicable series of Notes on such applicable trading day; or • upon the occurrence of specified corporate events described in the applicable Indenture. For at least 20 trading days during the period of 30 consecutive trading days ending March 31, 2021, the last reported sale price of our Class A common stock was greater than or equal to 130% of the conversion price of the 2023 Notes on each applicable trading day. As a result, the 2023 Notes are convertible at the option of the holders during the quarter ending June 30, 2021 and were classified as current liabilities on the condensed consolidated balance sheet as of March 31, 2021. As of March 31, 2021, the if-converted value of the 2023 Notes exceeded its principal amount by $73.8 million. As of March 31, 2021, the 2024 & 2026 Notes were not currently convertible. We may not redeem any series of Notes prior to the relevant maturity date. Holders of any series of Notes have the right to require us to repurchase for cash all or a portion of their applicable series of Notes, at 100% of its respective principal amount, plus any accrued and unpaid interest, upon the occurrence of a fundamental change as defined in the applicable Indenture for such series of Notes. We are also required to increase the conversion rate for holders who convert their Notes in connection with certain corporate events occurring prior to the relevant maturity date. The Notes are our senior unsecured obligations and rank senior in right of payment to any of our indebtedness and other liabilities that are expressly subordinated in right of payment to the Notes, equal in right of payment among all series of Notes and to any other existing and future indebtedness and other liabilities that are not subordinated, effectively junior in right of payment to any of our secured indebtedness and other liabilities to the extent of the value of the assets securing such indebtedness and other liabilities, and structurally junior in right of payment to all of our existing and future indebtedness and other liabilities (including trade payables) of our current or future subsidiaries. Capped Call Transactions In connection with the pricing of the 2023 Notes, we entered into privately negotiated capped call transactions with an affiliate of one of the initial purchasers of the 2023 Notes and other financial institutions. In connection with the pricing of the 2024 & 2026 Notes, we entered into privately negotiated capped call transactions with 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 applicable series of 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 applicable series of Notes, with an initial strike price of approximately $44.33 per share in the case of the 2023 Notes, which corresponds to the initial conversion price of the 2023 Notes, and approximately $189.36 per share in the case of the 2024 & 2026 Notes, which corresponds to the initial conversion price of each of the 2024 & 2026 Notes. Further, the capped call options are subject to anti-dilution adjustments substantially similar to those applicable to the conversion rate of the applicable series of Notes, and have a cap price of $62.22 per share in the case of the 2023 Notes, and $315.60 per share in the case of the 2024 & 2026 Notes. The cost of the purchased capped calls of $19.1 million in the case of the 2023 Notes and $87.4 million in the case of the 2024 & 2026 Notes was recorded as a reduction to additional paid-in-capital. We elected to integrate the applicable capped call options with the applicable series of Notes for federal income tax purposes pursuant to applicable U.S. Treasury Regulations. Accordingly, the $19.1 million gross cost of the purchased capped calls in the case of the 2023 Notes and the $87.4 million gross cost of the purchased capped calls in the case of the 2024 & 2026 Notes will be deductible for income tax purposes as original discount interest over the term of the 2023 Notes and the applicable series of the 2024 & 2026 Notes, respectively. We recorded deferred tax assets of $4.6 million with respect to the 2023 Notes and $20.9 million with respect to the 2024 & 2026 Notes, which represent the tax benefit of these deductions with an offsetting entry to additional paid-in capital. In connection with the exchange agreements discussed below, we terminated a corresponding portion of the existing capped call transactions that we entered into in connection with the issuance of the 2023 Notes, which resulted in the net share settlement and our receipt and retirement of 285,466 shares of Class A common stock. Exchange of 2023 Notes In connection with the issuance of the 2024 & 2026 Notes discussed above, during the year ended December 31, 2019, we entered into exchange agreements with certain holders of our outstanding 2023 Notes and, using a portion of the net proceeds from the issuance of the 2024 & 2026 Notes, we exchanged $145.2 million principal amount, together with accrued and unpaid interest thereon, of the 2023 Notes for aggregate consideration of $145.4 million in cash, representing the principal and accrued interest of the exchanged 2023 Notes, and 2.2 million shares of Class A common stock. Other than this exchange, we have received immaterial requests for conversion since the 2023 Notes initially became convertible but did not receive any additional requests for conversion during the three months ended March 31, 2021. The Notes consisted of the following (in thousands): As of March 31, 2021 As of December 31, 2020 2023 Notes 2024 Notes 2026 Notes 2023 Notes 2024 Notes 2026 Notes Liability: Principal $ 84,748 $ 400,000 $ 400,000 $ 84,748 $ 400,000 $ 400,000 Less: debt discount and issuance costs, net of amortization (10,986) (54,487) (81,163) (12,129) (58,148) (84,351) Net carrying amount $ 73,762 $ 345,513 $ 318,837 $ 72,619 $ 341,852 $ 315,649 Equity, net of issuance costs $ 46,473 $ 69,749 $ 93,380 $ 46,473 $ 69,749 $ 93,380 The following table sets forth interest expense recognized related to the Notes (in thousands): Three Months Ended March 31, 2021 2020 Contractual interest expense $ 1,606 $ 1,606 Amortization of debt issuance costs and discount 7,992 7,675 Total $ 9,598 $ 9,281

Equity Awards

Equity Awards3 Months Ended
Mar. 31, 2021
Share-based Payment Arrangement [Abstract]
Equity AwardsEquity Awards Stock Options Stock option activity during the three months ended March 31, 2021 consisted of the following (in thousands, except weighted-average information): Options Weighted- Options outstanding at December 31, 2020 2,071 $ 60.22 Granted 178 94.86 Exercised (84) 15.41 Canceled/forfeited (128) 97.82 Options outstanding at March 31, 2021 2,037 $ 62.71 As of March 31, 2021, there was $37.4 million of unrecognized compensation cost related to unvested stock options, which is expected to be recognized over a weighted-average period of 2.2 years. Valuation Assumptions The following table presents the weighted-average assumptions used for stock options granted under our 2017 Equity Incentive Plan for each of the periods indicated: Three Months Ended March 31, 2021 2020 Expected term (in years) 5.8 5.8 Estimated volatility 57 % 43 % Risk-free interest rate 1 % 1 % Estimated dividend yield — % — % Weighted-average fair value $ 49.08 $ 64.35 Restricted Stock Units Restricted stock unit, or RSU, activity during the three months ended March 31, 2021 consisted of the following (in thousands, except weighted-average information): Awards Weighted- RSUs outstanding at December 31, 2020 1,960 $ 105.04 Granted 1,153 86.56 Vested (323) 94.73 Canceled/forfeited (215) 98.32 RSUs outstanding at March 31, 2021 2,575 $ 98.62 As of March 31, 2021, total unrecognized compensation expense related to unvested RSUs was approximately $216.3 million, which is expected to be recognized over a weighted-average period of 2.3 years. We classified stock-based compensation expense in the accompanying condensed consolidated statements of operations and comprehensive loss as follows (in thousands): Three Months Ended March 31, 2021 2020 Cost of revenue $ 1,108 $ 436 Research and development 6,325 3,627 Sales and marketing 7,045 5,149 General and administrative 9,961 4,452 Total $ 24,439 $ 13,664

Leases

Leases3 Months Ended
Mar. 31, 2021
Leases [Abstract]
LeasesLeases We have various non-cancelable operating leases for our corporate offices in California, Colorado, Illinois, Massachusetts, Michigan, New York and Texas in the United States and Australia, Brazil, Canada, the Czech Republic, France, Germany, Japan, Singapore, Ukraine, the United Arab Emirates, and the United Kingdom. These leases expire at various times through 2029. Certain lease agreements contain renewal options, rent abatement, and escalation clauses that are factored into our determination of lease payments when appropriate. Lease Costs The following lease costs were included in our condensed consolidated statements of operations and comprehensive loss as follows (in thousands): Three Months Ended March 31, 2021 2020 Operating lease cost $ 3,876 $ 2,374 Short-term lease cost 25 546 Variable lease cost 1,153 674 Total lease cost $ 5,054 $ 3,594 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, 2021 (in thousands): Remainder of 2021 $ 11,860 2022 14,748 2023 12,907 2024 11,221 2025 10,551 2026 7,411 Thereafter 6,066 Total minimum lease payments 74,764 Less imputed interest (9,704) Present value of future minimum lease payments 65,060 Less current obligations under leases (1) (12,783) Long-term lease obligations $ 52,277 (1) Included in accrued expenses and other current liabilities in our condensed consolidated balance sheets. six

Contingencies

Contingencies3 Months Ended
Mar. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
ContingenciesContingencies Indemnification In the ordinary course of business, we enter into agreements in which we may agree to indemnify other parties with respect to certain matters, including losses resulting from claims of intellectual property infringement, damages to property or persons, business losses, or other liabilities. In addition, we have entered into indemnification agreements with our directors, executive officers, and certain other employees that will require us to indemnify them against liabilities that may arise by reason of their status or service as directors, officers, or employees. The term of these indemnification agreements with our directors, executive officers, and other employees are generally perpetual after execution of the agreement. The maximum potential amount of future payments we could be required to make under these indemnification provisions is unlimited; however, we maintain insurance that reduces our exposure and enables us to recover a portion of any future amounts paid. As of March 31, 2021 and December 31, 2020, 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. Other than the matters described below, 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. As of the date of this filing, three putative securities class action lawsuits have been filed against us and certain of our executive officers in U.S. federal court relating to alleged violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, as amended, or the Exchange Act, and Rule 10b-5 promulgated thereunder: (1) Smith v. Alteryx, Inc. , Case No. 8:20-cv-01540 (CD Cal.), filed on August 19, 2020; (2) Chau v. Alteryx, Inc. , Case No. 8:20-cv-01886 (CD Cal.), filed on September 30, 2020; and (3) Lalgudi v. Alteryx, Inc. , Case No. 8:20-cv-01910 (CD Cal.), filed on October 2, 2020. On November 13, 2020, lead plaintiffs were appointed, or the Lead Plaintiffs, and the three cases were consolidated into one action, In re Alteryx, Inc. Securities Litigation , Case No. 8:20-cv-01540 (C.D. Cal). On January 28, 2021, a first amended complaint was filed asserting claims on behalf of persons and entities that purchased or otherwise acquired our securities between February 13, 2020 and August 7, 2020. Lead Plaintiffs allege that such persons and entities were harmed as a result of certain alleged false or misleading statements, or omissions, made by us and certain of our executive officers. On March 19, 2021, we filed a motion to dismiss the consolidated complaint, which is set to be heard on June 21, 2021. We intend to vigorously defend against these claims. Because of the early stages of these matters, we are unable to estimate a reasonably possible range of loss, if any, that may result from these matters.

Income Taxes

Income Taxes3 Months Ended
Mar. 31, 2021
Income Tax Disclosure [Abstract]
Income TaxesIncome Taxes The following table presents details of the provision for (benefit of) income taxes and our effective tax rates (in thousands, except percentages): Three Months Ended March 31, 2021 2020 Provision for (benefit of) income taxes $ 993 $ (16,397) Effective tax rate 2.5 % (51.4) % 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) for each interim period, taking into account year-to-date amounts and projected results for the full year. We periodically evaluate whether we will recover a portion or all of our deferred tax assets. We record a valuation allowance against our deferred tax assets if and to the extent it is more likely than not that we will not recover our deferred tax assets. In evaluating the need for a valuation allowance, we weight all relevant positive and negative evidence, including among other factors, historical financial performance, forecasts of income over the applicable carryforward periods, and our market environment, with each piece weighted based on its reliability. As of March 31, 2021, we had insufficient objective positive evidence that we will generate sufficient future pre-tax income to overcome the negative evidence of cumulative losses. Accordingly, we continue to record a full valuation allowance against our U.S. and U.K deferred tax assets as of March 31, 2021. 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 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, 2020 was primarily attributable to discrete tax benefits related to excess tax deductions from settled stock options and RSUs and tax benefits related to losses. Since we have a full valuation allowance against our U.S. and U.K. deferred tax assets as of March 31, 2021, we did not recognize benefits from excess tax deductions from settled stock options and RSUs or losses for the three months ended March 31, 2021. On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act, or the CARES Act, was signed into law. The CARES Act includes tax provisions applicable to businesses, such as net operating losses, enhanced interest deductibility, optional deferral of deposits of payroll taxes and a refundable employee retention payroll tax credit. We have determined that these provisions did not have an impact on our condensed consolidated financial statements for the three months ended March 31, 2021. 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 Loss Per

Basic and Diluted Net Loss Per Share3 Months Ended
Mar. 31, 2021
Earnings Per Share [Abstract]
Basic and Diluted Net Loss Per ShareBasic and Diluted Net Loss Per Share The following table presents the computation of net loss per share (in thousands, except per share amounts): Three Months Ended March 31, 2021 2020 Numerator: Net loss attributable to common stockholders $ (40,656) $ (15,473) Denominator: Weighted-average shares used to compute net loss per share 66,932 65,569 Effect of dilutive securities: Convertible senior notes — — Employee stock awards — — Weighted-average shares used to compute net loss per share 66,932 65,569 Net loss per share attributable to common stockholders, basic $ (0.61) $ (0.24) Net loss per share attributable to common stockholders, diluted $ (0.61) $ (0.24) The following weighted-average equivalent shares of common stock, excluding the impact of the treasury stock method, were excluded from the diluted net loss per share calculation because their inclusion would have been anti-dilutive (in thousands): Three Months Ended March 31, 2021 2020 Stock awards 4,197 4,146 Convertible senior notes 6,136 6,137 Total shares excluded from net loss per share 10,333 10,283

Significant Accounting Polici_2

Significant Accounting Policies (Policies)3 Months Ended
Mar. 31, 2021
Accounting Policies [Abstract]
Basis of PresentationBasis 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, 2020 filed with the Securities and Exchange Commission, or SEC, on February 12, 2021. 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. The operating results for the three months ended March 31, 2021 are not necessarily indicative of the results expected for the full year ending December 31, 2021.
Use of EstimatesUse 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 these estimates and assumptions, including those related to determination of standalone selling prices of our products and services, income tax valuations, stock-based compensation, and goodwill and intangible assets valuations and recoverability. We base our estimates 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 SegmentsOperating 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.
Recently Adopted and Recently Issued Accounting PronouncementsRecently Adopted Accounting Pronouncements In December 2019, the Financial Accounting Standards Board, or FASB, issued Accounting Standards Update, or ASU, 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxe s. ASU 2019-12 removes certain exceptions for recognizing deferred taxes for investments, performing intraperiod allocations and calculating income taxes in interim periods. The standard also adds guidance to reduce complexity in certain areas, including recognizing deferred taxes for tax goodwill, allocating taxes to members of a consolidated group, and the recognition of deferred tax liabilities for outside basis differences. We adopted ASU 2019-12 prospectively as of the reporting period beginning January 1, 2021. Adoption of this update did not have a material impact on our condensed consolidated financial statements and related disclosures. Recently Issued Accounting Pronouncements In August 2020, the FASB issued ASU 2020-06, Debt - Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging - Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity , or ASU 2020-06, which simplifies the accounting for convertible instruments by removing certain separation models required under current U.S. GAAP, including the beneficial conversion feature and cash conversion models. ASU 2020-06 removes certain settlement conditions that are required for equity contracts to qualify for the derivative scope exception and it also simplifies the diluted earnings per share calculation in certain areas. This guidance will be effective for us for annual reporting periods beginning after December 15, 2021 and for interim periods within those annual periods, and can be applied utilizing either a modified or full retrospective transition method. Early adoption is permitted in the first interim period of a fiscal year. We currently account for our Notes (as defined and described in Note 7, Convertible Senior Notes ) utilizing the cash conversion model. We intend to adopt this standard in the first quarter of 2022 and are currently evaluating the impact of adopting this guidance. We currently expect that the adoption will have a material impact on our condensed consolidated financial statements and related disclosures.
Income TaxesWe 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) for each interim period, taking into account year-to-date amounts and projected results for the full year. We periodically evaluate whether we will recover a portion or all of our deferred tax assets. We record a valuation allowance against our deferred tax assets if and to the extent it is more likely than not that we will not recover our deferred tax assets. In evaluating the need for a valuation allowance, we weight all relevant positive and negative evidence, including among other factors, historical financial performance, forecasts of income over the applicable carryforward periods, and our market environment, with each piece weighted based on its reliability. As of March 31, 2021, we had insufficient objective positive evidence that we will generate sufficient future pre-tax income to overcome the negative evidence of cumulative losses. Accordingly, we continue to record a full valuation allowance against our U.S. and U.K deferred tax assets as of March 31, 2021. 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 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.

Revenue (Tables)

Revenue (Tables)3 Months Ended
Mar. 31, 2021
Revenue from Contract with Customer [Abstract]
Disaggregation of RevenueThe disaggregation of revenue by region was as follows (in thousands): Three Months Ended March 31, 2021 2020 Revenue by region: United States $ 77,237 $ 80,535 International 41,522 28,296 Total $ 118,759 $ 108,831
Deferred Contract CostsA summary of the activity impacting our deferred commissions during the three months ended March 31, 2021 and 2020 is presented below (in thousands): Three Months Ended March 31, 2021 2020 Beginning balance $ 51,186 $ 43,035 Additional deferred commissions 9,101 7,899 Amortization of deferred commissions (9,558) (8,331) Effects of foreign currency translation (102) (747) Ending balance $ 50,627 $ 41,856

Fair Value Measurements (Tables

Fair Value Measurements (Tables)3 Months Ended
Mar. 31, 2021
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 InvestmentsThe 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, 2021 and December 31, 2020 (in thousands): As of March 31, 2021 Cost Net Fair Value Cash and Short-term Long-term Cash $ 97,419 $ — $ 97,419 $ 97,419 $ — $ — Level 1: Money market funds $ 82,249 $ — $ 82,249 $ 82,249 $ — $ — Subtotal $ 82,249 $ — $ 82,249 $ 82,249 $ — $ — Level 2: Commercial paper $ 201,966 $ (5) $ 201,961 $ 74,092 $ 127,869 $ — Certificates of deposit 5,095 1 5,096 — 1,595 3,501 U.S. Treasury and agency bonds 503,602 842 504,444 — 382,554 121,890 Corporate bonds 140,533 125 140,658 — 73,719 66,939 Subtotal $ 851,196 $ 963 $ 852,159 $ 74,092 $ 585,737 $ 192,330 Level 3: $ — $ — $ — $ — $ — $ — Total $ 1,030,864 $ 963 $ 1,031,827 $ 253,760 $ 585,737 $ 192,330 As of December 31, 2020 Cost Net Fair Value Cash and Short-term Long-term Cash $ 88,991 $ — $ 88,991 $ 88,991 $ — $ — Level 1: Money market funds $ 35,010 $ — $ 35,010 $ 35,010 $ — $ — Subtotal $ 35,010 $ — $ 35,010 $ 35,010 $ — $ — Level 2: Commercial paper $ 161,124 $ (8) $ 161,116 $ 46,491 $ 114,625 $ — Certificates of deposit 2,800 — 2,800 — 2,800 — U.S. Treasury and agency bonds 554,860 1,220 556,080 1,399 358,822 195,859 Corporate bonds 177,790 349 178,139 — 108,198 69,941 Subtotal $ 896,574 $ 1,561 $ 898,135 $ 47,890 $ 584,445 $ 265,800 Level 3: $ — $ — $ — $ — $ — $ — Total $ 1,020,575 $ 1,561 $ 1,022,136 $ 171,891 $ 584,445 $ 265,800

Allowance for Doubtful Accoun_2

Allowance for Doubtful Accounts and Sales Reserves (Tables)3 Months Ended
Mar. 31, 2021
Credit Loss [Abstract]
Accounts Receivable and Contract with Customer, Asset, Allowance for Credit LossThe following table summarizes the changes in the allowances applied to accounts receivable and contract assets for the three months ended March 31, 2021 (in thousands): Accounts Receivable Reserve Contract Asset Reserve Balance at December 31, 2020 $ 3,114 $ 2,438 Provision 371 574 Recoveries (359) (64) Charge-offs (148) (8) Balance at March 31, 2021 $ 2,978 $ 2,940

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)3 Months Ended
Mar. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Change in Carrying Amount of GoodwillThe change in carrying amount of goodwill for the three months ended March 31, 2021 was as follows (in thousands): Goodwill as of December 31, 2020 $ 37,070 Effects of foreign currency translation (30) Goodwill as of March 31, 2021 $ 37,040
Schedule of Intangible AssetsIntangible assets consisted of the following (in thousands, except years): As of March 31, 2021 Weighted- Gross Carrying Accumulated Net Carrying Customer relationships 7.0 $ 1,634 $ (729) $ 905 Developed technology 5.7 21,790 (7,649) 14,141 $ 23,424 $ (8,378) $ 15,046 As of December 31, 2020 Weighted- Gross Carrying Accumulated Net Carrying Customer relationships 7.0 $ 1,652 $ (678) $ 974 Developed technology 5.7 21,780 (6,563) 15,217 $ 23,432 $ (7,241) $ 16,191
Schedule of Intangible Asset Amortization ExpenseWe classified intangible asset amortization expense in the accompanying condensed consolidated statements of operations and comprehensive loss as follows (in thousands): Three Months Ended March 31, 2021 2020 Cost of revenue $ 1,082 $ 1,118 Sales and marketing 58 50 Total $ 1,140 $ 1,168
Schedule of Finite-Lived Intangible Assets Estimated Remaining Amortization ExpenseThe following table presents our estimates of remaining amortization expense for finite-lived intangible assets at March 31, 2021 (in thousands): Remainder of 2021 $ 3,481 2022 4,620 2023 2,628 2024 1,952 2025 1,377 Thereafter 988 Total amortization expense $ 15,046

Convertible Senior Notes (Table

Convertible Senior Notes (Tables)3 Months Ended
Mar. 31, 2021
Debt Disclosure [Abstract]
Summary of Convertible DebtThe following table presents details of our convertible senior notes, which are further discussed below (original principal in thousands): Month Issued Maturity Date Original Principal (including over-allotment) Coupon Interest Rate Effective Interest Rate Conversion Rate Initial Conversion Price 2023 Notes May and June 2018 June 1, 2023 $ 230,000 0.5 % 7.00 % $ 22.5572 $ 44.33 2024 Notes August 2019 August 1, 2024 $ 400,000 0.5 % 4.96 % $ 5.2809 $ 189.36 2026 Notes August 2019 August 1, 2026 $ 400,000 1.0 % 5.41 % $ 5.2809 $ 189.36 The Notes consisted of the following (in thousands): As of March 31, 2021 As of December 31, 2020 2023 Notes 2024 Notes 2026 Notes 2023 Notes 2024 Notes 2026 Notes Liability: Principal $ 84,748 $ 400,000 $ 400,000 $ 84,748 $ 400,000 $ 400,000 Less: debt discount and issuance costs, net of amortization (10,986) (54,487) (81,163) (12,129) (58,148) (84,351) Net carrying amount $ 73,762 $ 345,513 $ 318,837 $ 72,619 $ 341,852 $ 315,649 Equity, net of issuance costs $ 46,473 $ 69,749 $ 93,380 $ 46,473 $ 69,749 $ 93,380
Summary of Interest ExpenseThe following table sets forth interest expense recognized related to the Notes (in thousands): Three Months Ended March 31, 2021 2020 Contractual interest expense $ 1,606 $ 1,606 Amortization of debt issuance costs and discount 7,992 7,675 Total $ 9,598 $ 9,281

Equity Awards (Tables)

Equity Awards (Tables)3 Months Ended
Mar. 31, 2021
Share-based Payment Arrangement [Abstract]
Schedule of Stock Option ActivityStock option activity during the three months ended March 31, 2021 consisted of the following (in thousands, except weighted-average information): Options Weighted- Options outstanding at December 31, 2020 2,071 $ 60.22 Granted 178 94.86 Exercised (84) 15.41 Canceled/forfeited (128) 97.82 Options outstanding at March 31, 2021 2,037 $ 62.71
Schedule of Share-based Payment Award, Stock Options, Valuation AssumptionsThe following table presents the weighted-average assumptions used for stock options granted under our 2017 Equity Incentive Plan for each of the periods indicated: Three Months Ended March 31, 2021 2020 Expected term (in years) 5.8 5.8 Estimated volatility 57 % 43 % Risk-free interest rate 1 % 1 % Estimated dividend yield — % — % Weighted-average fair value $ 49.08 $ 64.35
Schedule of RSU ActivityRestricted stock unit, or RSU, activity during the three months ended March 31, 2021 consisted of the following (in thousands, except weighted-average information): Awards Weighted- RSUs outstanding at December 31, 2020 1,960 $ 105.04 Granted 1,153 86.56 Vested (323) 94.73 Canceled/forfeited (215) 98.32 RSUs outstanding at March 31, 2021 2,575 $ 98.62
Schedule of Stock-based Compensation ExpenseWe classified stock-based compensation expense in the accompanying condensed consolidated statements of operations and comprehensive loss as follows (in thousands): Three Months Ended March 31, 2021 2020 Cost of revenue $ 1,108 $ 436 Research and development 6,325 3,627 Sales and marketing 7,045 5,149 General and administrative 9,961 4,452 Total $ 24,439 $ 13,664

Leases (Tables)

Leases (Tables)3 Months Ended
Mar. 31, 2021
Leases [Abstract]
Lease CostsThe following lease costs were included in our condensed consolidated statements of operations and comprehensive loss as follows (in thousands): Three Months Ended March 31, 2021 2020 Operating lease cost $ 3,876 $ 2,374 Short-term lease cost 25 546 Variable lease cost 1,153 674 Total lease cost $ 5,054 $ 3,594
Undiscounted Cash Flows for Operating Lease LiabilitiesThe 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, 2021 (in thousands): Remainder of 2021 $ 11,860 2022 14,748 2023 12,907 2024 11,221 2025 10,551 2026 7,411 Thereafter 6,066 Total minimum lease payments 74,764 Less imputed interest (9,704) Present value of future minimum lease payments 65,060 Less current obligations under leases (1) (12,783) Long-term lease obligations $ 52,277

Income Taxes (Tables)

Income Taxes (Tables)3 Months Ended
Mar. 31, 2021
Income Tax Disclosure [Abstract]
Schedule of Provision for Income Taxes and Effective Tax RatesThe following table presents details of the provision for (benefit of) income taxes and our effective tax rates (in thousands, except percentages): Three Months Ended March 31, 2021 2020 Provision for (benefit of) income taxes $ 993 $ (16,397) Effective tax rate 2.5 % (51.4) %

Basic and Diluted Net Loss Pe_2

Basic and Diluted Net Loss Per Share (Tables)3 Months Ended
Mar. 31, 2021
Earnings Per Share [Abstract]
Schedule of Net Income Per ShareThe following table presents the computation of net loss per share (in thousands, except per share amounts): Three Months Ended March 31, 2021 2020 Numerator: Net loss attributable to common stockholders $ (40,656) $ (15,473) Denominator: Weighted-average shares used to compute net loss per share 66,932 65,569 Effect of dilutive securities: Convertible senior notes — — Employee stock awards — — Weighted-average shares used to compute net loss per share 66,932 65,569 Net loss per share attributable to common stockholders, basic $ (0.61) $ (0.24) Net loss per share attributable to common stockholders, diluted $ (0.61) $ (0.24)
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per ShareThe following weighted-average equivalent shares of common stock, excluding the impact of the treasury stock method, were excluded from the diluted net loss per share calculation because their inclusion would have been anti-dilutive (in thousands): Three Months Ended March 31, 2021 2020 Stock awards 4,197 4,146 Convertible senior notes 6,136 6,137 Total shares excluded from net loss per share 10,333 10,283

Significant Accounting Polici_3

Significant Accounting Policies (Detail)3 Months Ended
Mar. 31, 2021Segment
Accounting Policies [Abstract]
Number of operating segments1

Revenue - Disaggregation of Rev

Revenue - Disaggregation of Revenue (Details) - USD ($) $ in Thousands3 Months Ended
Mar. 31, 2021Mar. 31, 2020
Disaggregation of Revenue [Line Items]
Total revenue $ 118,759 $ 108,831
United States
Disaggregation of Revenue [Line Items]
Total revenue77,237 80,535
International
Disaggregation of Revenue [Line Items]
Total revenue $ 41,522 $ 28,296
Geographic concentration risk | Revenue from contract with customer | United Kingdom
Disaggregation of Revenue [Line Items]
Concentration risk, percent13.10%

Revenue - Contract Assets and C

Revenue - Contract Assets and Contract Liabilities (Details) - USD ($)3 Months Ended
Mar. 31, 2021Mar. 31, 2020Dec. 31, 2020
Contract With Customer, Contract Assets and Contract Liabilities [Line Items]
Contract assets, impairment $ 0 $ 0
Revenue recognized related to amounts that were included in deferred revenue $ 51,800,000 $ 38,100,000
Minimum
Contract With Customer, Contract Assets and Contract Liabilities [Line Items]
Transferred to receivables period12 months
Maximum
Contract With Customer, Contract Assets and Contract Liabilities [Line Items]
Transferred to receivables period24 months
Prepaid expenses and other current assets
Contract With Customer, Contract Assets and Contract Liabilities [Line Items]
Contract assets, current $ 31,000,000 $ 25,400,000
Other noncurrent assets
Contract With Customer, Contract Assets and Contract Liabilities [Line Items]
Contract assets, noncurrent $ 43,500,000 $ 37,200,000

Revenue - Assets Recognized fro

Revenue - Assets Recognized from Costs to Obtain Contracts with Customers (Details) - USD ($)3 Months Ended
Mar. 31, 2021Mar. 31, 2020
Change in Capitalized Contract Costs [Roll Forward]
Beginning balance $ 51,186,000 $ 43,035,000
Additional deferred commissions9,101,000 7,899,000
Amortization of deferred commissions(9,558,000)(8,331,000)
Effects of foreign currency translation(102,000)(747,000)
Ending balance50,627,000 41,856,000
Capitalized contract cost, net, current25,200,000 17,900,000
Impairments of assets related to deferred contract costs $ 0 $ 0

Revenue - Remaining Performance

Revenue - Remaining Performance Obligation (Details) $ in MillionsMar. 31, 2021USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, amount $ 452.6
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, amount $ 412
Remaining performance obligation, period24 months

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 ThousandsMar. 31, 2021Dec. 31, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents $ 253,760 $ 171,891
Short-term Investments585,737 584,445
Long-term Investments192,330 265,800
Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents253,760 171,891
Gross unrealized gains (losses)963 1,561
Cash and cash equivalents and investment, cost1,030,864 1,020,575
Cash and cash equivalents and investments, fair value1,031,827 1,022,136
Short-term Investments585,737 584,445
Long-term Investments192,330 265,800
Fair Value, Measurements, Recurring | Cash
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents97,419 88,991
Cash and cash equivalents, fair value97,419 88,991
Fair Value, Measurements, Recurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents82,249 35,010
Cash and cash equivalents, fair value82,249 35,010
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 equivalents82,249 35,010
Cash and cash equivalents, fair value82,249 35,010
Fair Value, Measurements, Recurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents74,092 47,890
Investments, cost851,196 896,574
Gross unrealized gains (losses)963 1,561
Investments, fair value852,159 898,135
Short-term Investments585,737 584,445
Long-term Investments192,330 265,800
Fair Value, Measurements, Recurring | Level 2 | Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents74,092 46,491
Investments, cost201,966 161,124
Gross unrealized gains (losses)(5)(8)
Investments, fair value201,961 161,116
Short-term Investments127,869 114,625
Long-term Investments0 0
Fair Value, Measurements, Recurring | Level 2 | Certificates of deposit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents0 0
Investments, cost5,095 2,800
Gross unrealized gains (losses)1 0
Investments, fair value5,096 2,800
Short-term Investments1,595 2,800
Long-term Investments3,501 0
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]
Cash and cash equivalents0 1,399
Investments, cost503,602 554,860
Gross unrealized gains (losses)842 1,220
Investments, fair value504,444 556,080
Short-term Investments382,554 358,822
Long-term Investments121,890 195,859
Fair Value, Measurements, Recurring | Level 2 | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents0 0
Investments, cost140,533 177,790
Gross unrealized gains (losses)125 349
Investments, fair value140,658 178,139
Short-term Investments73,719 108,198
Long-term Investments66,939 69,941
Fair Value, Measurements, Recurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents0 0
Investments, cost0 0
Gross unrealized gains (losses)0 0
Investments, fair value0 0
Short-term Investments0 0
Long-term Investments $ 0 $ 0

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Details) - USD ($) $ in Millions3 Months Ended
Mar. 31, 2021Dec. 31, 2020
Fair Value Disclosures [Line Items]
Gross unrealized losses $ 0.1
Fair value of convertible senior notes902.7
Domestic cash and investments
Fair Value Disclosures [Line Items]
Cash, restricted cash and investments $ 1,000 $ 1,000
Minimum
Fair Value Disclosures [Line Items]
Long-term investments maturity period1 year
Maximum
Fair Value Disclosures [Line Items]
Long-term investments maturity period2 years

Allowance for Doubtful Accoun_3

Allowance for Doubtful Accounts and Sales Reserves (Details) $ in Thousands3 Months Ended
Mar. 31, 2021USD ($)
Accounts Receivable Reserve
Balance at December 31, 2020 $ 3,114
Provision371
Recoveries(359)
Charge-offs(148)
Balance at March 31, 20212,978
Contract Asset Reserve
Balance at December 31, 20202,438
Provision574
Recoveries(64)
Charge-offs(8)
Balance at March 31, 2021 $ 2,940

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Schedule of Change in Carrying Amount of Goodwill (Details) $ in Thousands3 Months Ended
Mar. 31, 2021USD ($)
Goodwill [Roll Forward]
Goodwill as of December 31, 2020 $ 37,070
Effects of foreign currency translation(30)
Goodwill as of March 31, 2021 $ 37,040

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Schedule of Intangible Assets (Details) - USD ($) $ in Thousands3 Months Ended12 Months Ended
Mar. 31, 2021Mar. 31, 2020Dec. 31, 2020
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value $ 23,424 $ 23,432
Accumulated Amortization(8,378)(7,241)
Net Carrying Value $ 15,046 $ 16,191
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Weighted- Average Useful Life in Years7 years7 years
Gross Carrying Value $ 1,634 $ 1,652
Accumulated Amortization(729)(678)
Net Carrying Value $ 905 $ 974
Developed technology
Finite-Lived Intangible Assets [Line Items]
Weighted- Average Useful Life in Years5 years 8 months 12 days5 years 8 months 12 days
Gross Carrying Value $ 21,790 $ 21,780
Accumulated Amortization(7,649)(6,563)
Net Carrying Value $ 14,141 $ 15,217
Impairment charge related to completed technology assets $ 2,000

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets - Schedule of Intangible Asset Amortization Expense (Details) - USD ($) $ in Thousands3 Months Ended
Mar. 31, 2021Mar. 31, 2020
Finite-Lived Intangible Assets [Line Items]
Amortization of intangible assets $ 1,140 $ 1,168
Cost of revenue
Finite-Lived Intangible Assets [Line Items]
Amortization of intangible assets1,082 1,118
Sales and marketing
Finite-Lived Intangible Assets [Line Items]
Amortization of intangible assets $ 58 $ 50

Goodwill and Intangible Asset_5

Goodwill and Intangible Assets - Schedule of Finite-Lived Intangible Assets Estimated Remaining Amortization Expense (Details) - USD ($) $ in ThousandsMar. 31, 2021Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Remainder of 2021 $ 3,481
20224,620
20232,628
20241,952
20251,377
Thereafter988
Net Carrying Value $ 15,046 $ 16,191

Convertible Senior Notes - Summ

Convertible Senior Notes - Summary of Debt (Details) - Convertible senior notes1 Months Ended
Aug. 31, 2019USD ($)$ / sharesJun. 30, 2018USD ($)$ / sharesMar. 31, 2021USD ($)Dec. 31, 2020USD ($)
Convertible senior note due 2023, 0.5%
Debt Instrument [Line Items]
Original Principal (including over-allotment) $ 230,000,000 $ 84,748,000 $ 84,748,000
Coupon Interest Rate0.50%
Effective Interest Rate7.00%
Conversion Rate0.0225572
Initial Conversion Price | $ / shares $ 44.33
Principal $ 230,000,000 84,748,000 84,748,000
Less: debt discount and issuance costs, net of amortization(10,986,000)(12,129,000)
Net carrying amount73,762,000 72,619,000
Equity, net of issuance costs46,473,000 46,473,000
Convertible senior note due 2024, 0.50%
Debt Instrument [Line Items]
Original Principal (including over-allotment) $ 400,000,000 400,000,000 400,000,000
Coupon Interest Rate0.50%
Effective Interest Rate4.96%
Conversion Rate0.0052809
Initial Conversion Price | $ / shares $ 189.36
Principal $ 400,000,000 400,000,000 400,000,000
Less: debt discount and issuance costs, net of amortization(54,487,000)(58,148,000)
Net carrying amount345,513,000 341,852,000
Equity, net of issuance costs69,749,000 69,749,000
Convertible senior note due 2026, 1.0%
Debt Instrument [Line Items]
Original Principal (including over-allotment) $ 400,000,000 400,000,000 400,000,000
Coupon Interest Rate1.00%
Effective Interest Rate5.41%
Conversion Rate0.0052809
Initial Conversion Price | $ / shares $ 189.36
Principal $ 400,000,000 400,000,000 400,000,000
Less: debt discount and issuance costs, net of amortization(81,163,000)(84,351,000)
Net carrying amount318,837,000 315,649,000
Equity, net of issuance costs $ 93,380,000 $ 93,380,000

Convertible Senior Notes - Addi

Convertible Senior Notes - Additional Information (Details)1 Months Ended3 Months Ended
Aug. 31, 2019USD ($)$ / optionsharesJun. 30, 2018USD ($)$ / optionMar. 31, 2021USD ($)dDec. 31, 2020USD ($)
Derivative [Line Items]
Capped calls, cost $ 87,400,000 $ 19,100,000
Capped calls, deferred tax asset $ 20,900,000 $ 4,600,000
Class A common stock
Derivative [Line Items]
Capped calls, retirement of common stock (in shares) | shares285,466
Debt instrument, conversion, option two | Class A common stock
Debt Instrument [Line Items]
Convertible debt, converted instrument, shares issued (in shares) | shares2,200,000
Price risk derivative
Derivative [Line Items]
Capped calls, initial strike price (in dollars per share) | $ / option189.3644.33
Capped calls, cap price (in dollars per share) | $ / option315.6062.22
Convertible senior notes | Convertible senior note due 2023, 0.5%
Debt Instrument [Line Items]
Principal $ 230,000,000 $ 84,748,000 $ 84,748,000
Coupon interest rate0.50%
If-converted value in excess of principal $ 73,800,000
Convertible senior notes | Convertible senior note due 2023, 0.5% | Debt instrument, conversion, option one
Debt Instrument [Line Items]
Convertible debt, threshold trading days | d20
Convertible debt, threshold consecutive trading days | d30
Convertible debt, threshold percentage of stock price trigger130.00%
Convertible debt, converted instrument, original amount $ 145,200,000
Debt extinguishment with interest145,400,000
Convertible senior notes | Convertible Senior Notes due 2023, Over-Allotment Option, 0.5%
Debt Instrument [Line Items]
Principal $ 30,000,000
Convertible senior notes | Convertible senior note due 2024, 0.50%
Debt Instrument [Line Items]
Principal $ 400,000,000 $ 400,000,000 400,000,000
Coupon interest rate0.50%
Convertible senior notes | Convertible senior note due 2026, 1.0%
Debt Instrument [Line Items]
Principal $ 400,000,000 $ 400,000,000 $ 400,000,000
Coupon interest rate1.00%
Convertible senior notes | Convertible senior notes due 2024, over-allotment option, 0.5%
Debt Instrument [Line Items]
Principal $ 50,000,000
Convertible senior notes | Convertible senior notes due 2026, over-allotment option, 1.0%
Debt Instrument [Line Items]
Principal $ 50,000,000
Convertible senior notes | Convertible senior notes due 2023, 2024, 2026 | Debt instrument, conversion, option one
Debt Instrument [Line Items]
Convertible debt, threshold trading days | d20
Convertible debt, threshold consecutive trading days | d30
Convertible debt, threshold percentage of stock price trigger130.00%
Convertible senior notes | Convertible senior notes due 2023, 2024, 2026 | Debt instrument, conversion, option two
Debt Instrument [Line Items]
Convertible debt, threshold trading days | d5
Convertible debt, threshold consecutive trading days | d5
Convertible debt, threshold percentage of stock price trigger98.00%

Convertible Senior Notes - Su_2

Convertible Senior Notes - Summary of Interest Expense (Details) - USD ($) $ in Thousands3 Months Ended
Mar. 31, 2021Mar. 31, 2020
Debt Instrument [Line Items]
Amortization of debt issuance costs and discount $ 7,992 $ 7,675
Convertible senior notes | Convertible senior notes
Debt Instrument [Line Items]
Contractual interest expense1,606 1,606
Amortization of debt issuance costs and discount7,992 7,675
Total $ 9,598 $ 9,281

Equity Awards - Schedule of Sto

Equity Awards - Schedule of Stock Option Activity (Details) shares in Thousands3 Months Ended
Mar. 31, 2021$ / sharesshares
Options Outstanding
Options outstanding, beginning balance (in shares) | shares2,071
Granted (in shares) | shares178
Exercised (in shares) | shares(84)
Canceled/forfeited (in shares) | shares(128)
Options outstanding, ending balance (in shares) | shares2,037
Weighted- Average Exercise Price
Weighted-average exercise price, beginning balance (in dollars per share) | $ / shares $ 60.22
Weighted-average exercise price, granted (in dollars per share) | $ / shares94.86
Weighted-average exercise price, exercised (in dollars per share) | $ / shares15.41
Weighted-average exercise price, canceled/forfeited (in dollars per share) | $ / shares97.82
Weighted-average exercise price, ending balance (in dollars per share) | $ / shares $ 62.71

Equity Awards - Additional Info

Equity Awards - Additional Information (Details) $ in Millions3 Months Ended
Mar. 31, 2021USD ($)
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost related to unvested stock options $ 37.4
Weighted-average period, expected to be recognized2 years 2 months 12 days
Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-average period, expected to be recognized2 years 3 months 18 days
Unrecognized compensation expense, related to unvested RSUs $ 216.3

Equity Awards - Schedule of Val

Equity Awards - Schedule of Valuation Assumptions (Details) - 2017 Equity Incentive Plan - $ / shares3 Months Ended
Mar. 31, 2021Mar. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (in years)5 years 9 months 18 days5 years 9 months 18 days
Estimated volatility57.00%43.00%
Risk-free interest rate1.00%1.00%
Estimated dividend yield0.00%0.00%
Weighted average fair value (in dollars per share) $ 49.08 $ 64.35

Equity Awards - Schedule of RSU

Equity Awards - Schedule of RSU Activity (Details) - Restricted stock units shares in Thousands3 Months Ended
Mar. 31, 2021$ / sharesshares
Awards Outstanding
Beginning balance (in shares) | shares1,960
Granted (in shares) | shares1,153
Vested (in shares) | shares(323)
Canceled/forfeited (in shares) | shares(215)
Ending balance (in shares) | shares2,575
Weighted- Average Grant Date Fair Value
Beginning balance (in dollars per share) | $ / shares $ 105.04
Granted (in dollars per share) | $ / shares86.56
Vested (in dollars per share) | $ / shares94.73
Canceled/forfeited (in dollars per share) | $ / shares98.32
Ending balance (in dollars per share) | $ / shares $ 98.62

Equity Awards - Schedule of S_2

Equity Awards - Schedule of Stock-based Compensation Expense (Details) - USD ($) $ in Thousands3 Months Ended
Mar. 31, 2021Mar. 31, 2020
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total $ 24,439 $ 13,664
Cost of revenue
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total1,108 436
Research and development
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total6,325 3,627
Sales and marketing
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total7,045 5,149
General and administrative
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total $ 9,961 $ 4,452

Leases - Lease Costs (Details)

Leases - Lease Costs (Details) - USD ($) $ in Thousands3 Months Ended
Mar. 31, 2021Mar. 31, 2020
Leases [Abstract]
Operating lease cost $ 3,876 $ 2,374
Short-term lease cost25 546
Variable lease cost1,153 674
Total lease cost $ 5,054 $ 3,594

Leases - Undiscounted Cash Flow

Leases - Undiscounted Cash Flows (Details) - USD ($) $ in ThousandsMar. 31, 2021Dec. 31, 2020
Leases [Abstract]
Remainder of 2021 $ 11,860
202214,748
202312,907
202411,221
202510,551
20267,411
Thereafter6,066
Total minimum lease payments74,764
Less imputed interest(9,704)
Present value of future minimum lease payments65,060
Less current obligations under leases(12,783)
Operating lease liabilities $ 52,277 $ 53,860

Leases - Narrative (Details)

Leases - Narrative (Details) $ in ThousandsMar. 31, 2021USD ($)lease
Lessee, Lease, Description [Line Items]
Lessee, operating lease, lease executed but not yet commenced, number of leases | lease3
Lease not yet commenced, liability $ 56,700
Lease not yet commenced, liability, due next 24 months15,300
Present value of future minimum lease payments65,060
Corporate headquarters
Lessee, Lease, Description [Line Items]
Present value of future minimum lease payments $ 11,700
Minimum
Lessee, Lease, Description [Line Items]
Lessee, operating lease, term of contract6 years
Maximum
Lessee, Lease, Description [Line Items]
Lessee, operating lease, term of contract8 years

Contingencies (Details)

Contingencies (Details)May 04, 2021lawsuitMar. 31, 2021USD ($)Dec. 31, 2020USD ($)
Subsequent event
Commitments And Contingencies [Line Items]
Number of claims | lawsuit3
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 Thousands3 Months Ended
Mar. 31, 2021Mar. 31, 2020
Income Tax Disclosure [Abstract]
Provision for (benefit of) income taxes $ 993 $ (16,397)
Effective tax rate2.50%(51.40%)

Basic and Diluted Net Loss Pe_3

Basic and Diluted Net Loss Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands3 Months Ended
Mar. 31, 2021Mar. 31, 2020Aug. 31, 2019Jun. 30, 2018
Numerator:
Net loss attributable to common stockholders $ (40,656) $ (15,473)
Denominator:
Weighted-average shares used to compute net income (loss) per share attributable to common stockholders, basic (in shares)66,932 65,569
Effect of dilutive securities:
Convertible senior notes (in shares)0 0
Employee stock awards (in shares)0 0
Weighted-average shares used to compute net income (loss) per share attributable to common stockholders, diluted (in shares)66,932 65,569
Net income (loss) per share attributable to common stockholders, basic (in dollars per share) $ (0.61) $ (0.24)
Net income (loss) per share attributable to common stockholders, diluted (in dollars per share) $ (0.61) $ (0.24)
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Securities excluded from calculation of earnings per share (in shares)10,333 10,283
Stock awards
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Securities excluded from calculation of earnings per share (in shares)4,197 4,146
Convertible senior notes
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Securities excluded from calculation of earnings per share (in shares)6,136 6,137
Convertible senior notes | Convertible senior note due 2023, 0.5%
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Initial Conversion Price $ 44.33
Convertible senior notes | Convertible Senior Notes due 2024 & 2026, 0.50%, 1.0%
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Initial Conversion Price $ 189.36

Uncategorized Items - ayx-20210

LabelElementValue
Accounting Standards Update [Extensible List]us-gaap_AccountingStandardsUpdateExtensibleListus-gaap:AccountingStandardsUpdate201613Member