Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Sep. 30, 2021 | Oct. 28, 2021 | |
Document Information [Line Items] | ||
Entity Central Index Key | 0001107843 | |
Entity Registrant Name | QUALYS, INC. | |
Amendment Flag | false | |
Current Fiscal Year End Date | --12-31 | |
Document Fiscal Period Focus | Q3 | |
Document Fiscal Year Focus | 2021 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Sep. 30, 2021 | |
Document Transition Report | false | |
Entity File Number | 001-35662 | |
Entity Incorporation, State or Country Code | DE | |
Entity Tax Identification Number | 77-0534145 | |
Entity Address, Address Line One | 919 E. Hillsdale Boulevard, 4th Floor | |
Entity Address, City or Town | Foster City | |
Entity Address, State or Province | CA | |
Entity Address, Postal Zip Code | 94404 | |
City Area Code | 650 | |
Local Phone Number | 801-6100 | |
Title of 12(b) Security | Common stock, $0.001 par value per share | |
Trading Symbol | QLYS | |
Security Exchange Name | NASDAQ | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Large Accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 38,824,104 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Current assets: | ||
Cash and cash equivalents | $ 145,740 | $ 74,132 |
Short-term marketable securities | 199,947 | 281,892 |
Accounts receivable, net of allowance of $680 and $725 as of September 30, 2021 and December 31, 2020, respectively | 84,267 | 100,179 |
Prepaid expenses and other current assets | 22,899 | 19,142 |
Total current assets | 452,853 | 475,345 |
Long-term marketable securities | 136,124 | 98,458 |
Property and equipment, net | 63,257 | 64,850 |
Operating leases - right of use asset | 37,795 | 44,838 |
Deferred tax assets, net | 31,367 | 15,811 |
Intangible assets, net | 8,250 | 12,006 |
Goodwill | 7,447 | 7,447 |
Restricted cash | 1,200 | 1,200 |
Other noncurrent assets | 17,887 | 16,864 |
Total assets | 756,180 | 736,819 |
Current liabilities: | ||
Accounts payable | 1,099 | 731 |
Accrued liabilities | 33,878 | 29,833 |
Deferred revenues, current | 237,539 | 213,494 |
Operating lease liabilities, current | 12,176 | 11,672 |
Total current liabilities | 284,692 | 255,730 |
Deferred revenues, noncurrent | 27,528 | 30,540 |
Operating lease liabilities, noncurrent | 37,320 | 45,700 |
Other noncurrent liabilities | 3,654 | 367 |
Total liabilities | 353,194 | 332,337 |
Stockholders’ equity: | ||
Preferred stock, $0.001 par value; 20,000 shares authorized, no shares issued and outstanding at September 30, 2021 and December 31, 2020 | 0 | 0 |
Common stock, $0.001 par value; 1,000,000 shares authorized; 38,864 and 39,253 shares issued and outstanding at September 30, 2021 and December 31, 2020, respectively | 39 | 39 |
Additional paid-in capital | 433,814 | 401,359 |
Accumulated other comprehensive income (loss) | 828 | (484) |
Retained earnings (accumulated deficit) | (31,695) | 3,568 |
Total stockholders’ equity | 402,986 | 404,482 |
Total liabilities and stockholders’ equity | $ 756,180 | $ 736,819 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Revenues | $ 104,934 | $ 93,069 | $ 301,392 | $ 268,162 |
Cost of revenues | 22,479 | 20,619 | 65,711 | 58,005 |
Gross profit | 82,455 | 72,450 | 235,681 | 210,157 |
Operating expenses: | ||||
Research and development | 21,336 | 17,864 | 58,890 | 53,905 |
Sales and marketing | 18,569 | 16,060 | 54,328 | 50,073 |
General and administrative | 10,573 | 12,223 | 63,829 | 33,937 |
Total operating expenses | 50,478 | 46,147 | 177,047 | 137,915 |
Income from operations | 31,977 | 26,303 | 58,634 | 72,242 |
Other income (expense), net: | ||||
Interest expense | 0 | (1) | (4) | (4) |
Interest income | 525 | 1,123 | 1,838 | 4,439 |
Other income (expense), net | (451) | 209 | (775) | 268 |
Total other income, net | 74 | 1,331 | 1,059 | 4,703 |
Income before income taxes | 32,051 | 27,634 | 59,693 | 76,945 |
Income tax provision | 4,282 | 4,891 | 10,554 | 9,189 |
Net income | $ 27,769 | $ 22,743 | $ 49,139 | $ 67,756 |
Net income per share: | ||||
Basic (in dollars per share) | $ 0.71 | $ 0.58 | $ 1.26 | $ 1.73 |
Diluted (in dollars per share) | $ 0.70 | $ 0.56 | $ 1.22 | $ 1.66 |
Weighted average shares used in computing net income per share: | ||||
Basic (in shares) | 38,925 | 39,238 | 39,077 | 39,171 |
Diluted (in shares) | 39,938 | 40,764 | 40,147 | 40,843 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Net income | $ 27,769 | $ 22,743 | $ 49,139 | $ 67,756 |
Other comprehensive income (loss), net of tax | ||||
Net change in unrealized gains (losses) on available-for-sale debt securities, net of tax | (192) | (511) | (783) | 833 |
Net change in unrealized gains (losses) on cash flow hedges, net of tax | 1,285 | (849) | 2,095 | (920) |
Other comprehensive income (loss), net of tax | 1,093 | (1,360) | 1,312 | (87) |
Comprehensive income | $ 28,862 | $ 21,383 | $ 50,451 | $ 67,669 |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2021 | Sep. 30, 2020 | |
Cash flow from operating activities: | ||
Net income | $ 49,139 | $ 67,756 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Depreciation and amortization expense | 26,752 | 23,975 |
Bad debt expense | 247 | 392 |
Loss on disposal of property and equipment | 12 | 9 |
Stock-based compensation | 56,218 | 29,930 |
Amortization of premiums on marketable securities | 2,985 | 163 |
Deferred income taxes | (15,962) | 5,061 |
Changes in operating assets and liabilities: | ||
Accounts receivable | 15,665 | 13,351 |
Prepaid expenses and other assets | (5,460) | (6,071) |
Accounts payable | 200 | 326 |
Accrued liabilities | 9,912 | 72 |
Deferred revenues | 21,033 | 6,333 |
Net cash provided by operating activities | 160,741 | 141,297 |
Cash flow from investing activities: | ||
Purchases of marketable securities | (255,051) | (290,534) |
Sales and maturities of marketable securities | 295,336 | 263,296 |
Purchases of property and equipment | (20,089) | (22,742) |
Proceeds from disposal of property and equipment | 6 | 0 |
Purchases of intangible assets | (1,080) | (1,500) |
Net cash provided by (used in) investing activities | 19,122 | (51,480) |
Cash flow from financing activities: | ||
Repurchases of common stock | (94,919) | (91,881) |
Proceeds from exercise of stock options | 10,948 | 23,962 |
Payments for taxes related to net share settlement of equity awards | (24,194) | (16,338) |
Principal payments under finance lease obligations | (90) | (92) |
Net cash used in financing activities | (108,255) | (84,349) |
Net increase in cash, cash equivalents and restricted cash | 71,608 | 5,468 |
Cash, cash equivalents and restricted cash at beginning of period | 75,332 | 88,759 |
Cash, cash equivalents and restricted cash at end of period | $ 146,940 | $ 94,227 |
Condensed Consolidated Statem_4
Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) shares in Thousands, $ in Thousands | Common Stock [Member] | Additional Paid-in Capital [Member] | AOCI Attributable to Parent [Member] | Retained Earnings [Member] | Total |
Balances (in shares) at Dec. 31, 2019 | 39,146 | ||||
Balance at Dec. 31, 2019 | $ 39 | $ 362,408 | $ 1,162 | $ 23,194 | $ 386,803 |
Net income | 0 | 0 | 0 | 18,694 | 18,694 |
Other comprehensive income (loss), net of tax | $ 0 | 0 | 391 | 0 | 391 |
Issuance of common stock upon exercise of stock options (in shares) | 145 | ||||
Issuance of common stock upon exercise of stock options | $ 0 | 4,714 | 0 | 0 | 4,714 |
Repurchase of common stock (in shares) | (346) | ||||
Repurchase of common stock | $ 0 | (4,160) | 0 | (24,766) | (28,926) |
Issuance of common stock upon vesting of restricted stock units (in shares) | 138 | ||||
Issuance of common stock upon vesting of restricted stock units | $ 0 | 0 | 0 | 0 | 0 |
Taxes related to net share settlement of equity awards (in shares) | (58) | ||||
Taxes related to net share settlement of equity awards | $ 0 | (5,000) | 0 | 0 | (5,000) |
Stock-based compensation | $ 0 | 10,054 | 0 | 0 | 10,054 |
Balances (in shares) at Mar. 31, 2020 | 39,025 | ||||
Balance at Mar. 31, 2020 | $ 39 | 368,016 | 1,553 | 17,122 | 386,730 |
Balances (in shares) at Dec. 31, 2019 | 39,146 | ||||
Balance at Dec. 31, 2019 | $ 39 | 362,408 | 1,162 | 23,194 | 386,803 |
Net income | 67,756 | ||||
Other comprehensive income (loss), net of tax | (87) | ||||
Balances (in shares) at Sep. 30, 2020 | 39,119 | ||||
Balance at Sep. 30, 2020 | $ 39 | 388,814 | 1,075 | 10,371 | 400,299 |
Balances (in shares) at Mar. 31, 2020 | 39,025 | ||||
Balance at Mar. 31, 2020 | $ 39 | 368,016 | 1,553 | 17,122 | 386,730 |
Net income | 0 | 0 | 0 | 26,319 | 26,319 |
Other comprehensive income (loss), net of tax | $ 0 | 0 | 882 | 0 | 882 |
Issuance of common stock upon exercise of stock options (in shares) | 448 | ||||
Issuance of common stock upon exercise of stock options | $ 1 | 15,715 | 0 | 0 | 15,716 |
Repurchase of common stock (in shares) | (243) | ||||
Repurchase of common stock | $ (1) | (2,912) | 0 | (22,343) | (25,256) |
Issuance of common stock upon vesting of restricted stock units (in shares) | 146 | ||||
Issuance of common stock upon vesting of restricted stock units | $ 0 | 0 | 0 | 0 | 0 |
Taxes related to net share settlement of equity awards (in shares) | (61) | ||||
Taxes related to net share settlement of equity awards | $ 0 | (6,115) | 0 | 0 | (6,115) |
Stock-based compensation | $ 0 | 9,498 | 0 | 0 | 9,498 |
Balances (in shares) at Jun. 30, 2020 | 39,315 | ||||
Balance at Jun. 30, 2020 | $ 39 | 384,202 | 2,435 | 21,098 | 407,774 |
Net income | 0 | 0 | 0 | 22,743 | 22,743 |
Other comprehensive income (loss), net of tax | $ 0 | 0 | (1,360) | 0 | (1,360) |
Issuance of common stock upon exercise of stock options (in shares) | 102 | ||||
Issuance of common stock upon exercise of stock options | $ 0 | 3,532 | 0 | 0 | 3,532 |
Repurchase of common stock (in shares) | (352) | ||||
Repurchase of common stock | $ 0 | (4,229) | 0 | (33,470) | (37,699) |
Issuance of common stock upon vesting of restricted stock units (in shares) | 98 | ||||
Issuance of common stock upon vesting of restricted stock units | $ 0 | 0 | 0 | 0 | 0 |
Taxes related to net share settlement of equity awards (in shares) | (44) | ||||
Taxes related to net share settlement of equity awards | $ 0 | (5,223) | 0 | 0 | (5,223) |
Stock-based compensation | $ 0 | 10,532 | 0 | 0 | 10,532 |
Balances (in shares) at Sep. 30, 2020 | 39,119 | ||||
Balance at Sep. 30, 2020 | $ 39 | 388,814 | 1,075 | 10,371 | 400,299 |
Balances (in shares) at Dec. 31, 2020 | 39,253 | ||||
Balance at Dec. 31, 2020 | $ 39 | 401,359 | (484) | 3,568 | 404,482 |
Net income | 0 | 0 | 0 | 228 | 228 |
Other comprehensive income (loss), net of tax | $ 0 | 0 | 604 | 0 | 604 |
Issuance of common stock upon exercise of stock options (in shares) | 69 | ||||
Issuance of common stock upon exercise of stock options | $ 0 | 2,264 | 0 | 0 | 2,264 |
Repurchase of common stock (in shares) | (269) | ||||
Repurchase of common stock | $ 0 | (3,232) | 0 | (27,797) | (31,029) |
Issuance of common stock upon vesting of restricted stock units (in shares) | 305 | ||||
Issuance of common stock upon vesting of restricted stock units | $ 0 | 0 | 0 | 0 | 0 |
Taxes related to net share settlement of equity awards (in shares) | (155) | ||||
Taxes related to net share settlement of equity awards | $ 0 | (17,643) | 0 | 0 | (17,643) |
Stock-based compensation | $ 0 | 38,202 | 0 | 0 | 38,202 |
Balances (in shares) at Mar. 31, 2021 | 39,203 | ||||
Balance at Mar. 31, 2021 | $ 39 | 420,950 | 120 | (24,001) | 397,108 |
Balances (in shares) at Dec. 31, 2020 | 39,253 | ||||
Balance at Dec. 31, 2020 | $ 39 | 401,359 | (484) | 3,568 | 404,482 |
Net income | 49,139 | ||||
Other comprehensive income (loss), net of tax | $ 1,312 | ||||
Issuance of common stock upon exercise of stock options (in shares) | 243 | ||||
Balances (in shares) at Sep. 30, 2021 | 38,864 | ||||
Balance at Sep. 30, 2021 | $ 39 | 433,814 | 828 | (31,695) | $ 402,986 |
Balances (in shares) at Mar. 31, 2021 | 39,203 | ||||
Balance at Mar. 31, 2021 | $ 39 | 420,950 | 120 | (24,001) | 397,108 |
Net income | 0 | 0 | 0 | 21,142 | 21,142 |
Other comprehensive income (loss), net of tax | $ 0 | 0 | (385) | 0 | (385) |
Issuance of common stock upon exercise of stock options (in shares) | 57 | ||||
Issuance of common stock upon exercise of stock options | $ 0 | 2,174 | 0 | 0 | 2,174 |
Repurchase of common stock (in shares) | (316) | ||||
Repurchase of common stock | $ 0 | (3,796) | 0 | (28,427) | (32,223) |
Issuance of common stock upon vesting of restricted stock units (in shares) | 84 | ||||
Issuance of common stock upon vesting of restricted stock units | $ 0 | 0 | 0 | 0 | 0 |
Taxes related to net share settlement of equity awards (in shares) | (33) | ||||
Taxes related to net share settlement of equity awards | $ 0 | (3,374) | 0 | 0 | (3,374) |
Stock-based compensation | $ 0 | 8,553 | 0 | 0 | 8,553 |
Balances (in shares) at Jun. 30, 2021 | 38,995 | ||||
Balance at Jun. 30, 2021 | $ 39 | 424,507 | (265) | (31,286) | 392,995 |
Net income | 0 | 0 | 0 | 27,769 | 27,769 |
Other comprehensive income (loss), net of tax | $ 0 | 0 | 1,093 | 0 | 1,093 |
Issuance of common stock upon exercise of stock options (in shares) | 117 | ||||
Issuance of common stock upon exercise of stock options | $ 0 | 6,510 | 0 | 0 | 6,510 |
Repurchase of common stock (in shares) | (290) | ||||
Repurchase of common stock | $ 0 | (3,489) | 0 | (28,178) | (31,667) |
Issuance of common stock upon vesting of restricted stock units (in shares) | 74 | ||||
Issuance of common stock upon vesting of restricted stock units | $ 0 | 0 | 0 | 0 | 0 |
Taxes related to net share settlement of equity awards (in shares) | (32) | ||||
Taxes related to net share settlement of equity awards | $ 0 | (3,177) | 0 | 0 | (3,177) |
Stock-based compensation | $ 0 | 9,463 | 0 | 0 | 9,463 |
Balances (in shares) at Sep. 30, 2021 | 38,864 | ||||
Balance at Sep. 30, 2021 | $ 39 | $ 433,814 | $ 828 | $ (31,695) | $ 402,986 |
Note 1 - Description of Busines
Note 1 - Description of Business and Summary of Significant Accounting Policies | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Basis of Presentation and Significant Accounting Policies [Text Block] | NOTE 1. Description of Business and Summary of Significant Accounting Policies Description of Business Qualys, Inc. (the “Company”, "we", "us", "our") was incorporated in the state of Delaware on December 30, 1999. Basis of Presentation The accompanying unaudited condensed consolidated financial statements and condensed footnotes have been prepared in accordance with accounting principles generally accepted in the United States ("U.S. GAAP") for interim financial information as well as the instructions to Form 10 December 31, 2020 not three nine September 30, 2021 not December 31, 2021 10 December 31, 2020 Risks and Uncertainties In March 2020, 19" 19, may may not 19 19 may Use of Estimates The preparation of the unaudited condensed consolidated financial statements in conformity with U.S. GAAP requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of assets and liabilities at the date of the condensed consolidated financial statements and the reported results of operations during the reporting period. The Company’s management regularly assesses these estimates, which primarily affect revenue recognition, allowance for credit loss, the valuation of goodwill and intangible assets, leases, stock-based compensation and income tax provision. Actual results could differ from those estimates and such differences may Revenue Recognition The Company derives revenues from subscriptions that require customers to pay a fee in order to access the Company’s cloud solutions. Contract period with customers generally ranges from less than a year to five not not not The Company determines revenue recognition through the following steps: • Identification of the contract, or contracts, with a customer; • Identification of the performance obligations in the contract; • Determination of the transaction price • Allocation of the transaction price to the performance obligations in the contract; and • Recognition of revenue when, or as, the Company satisfies a performance obligation. At the inception of a customer contract, the Company makes an assessment as to that customer's ability to pay for the services provided. The Company assesses collectability based on several factors, including credit worthiness of the customer along with past transaction history. In addition, the Company performs periodic evaluations of its customers’ financial condition. Most of the Company’s revenue contracts are subscription based and contain a single performance obligation. The subscription contracts typically do not 606. not not As the Company's cloud-based subscription services are delivered to customers electronically and over time, revenue is generally recognized ratably over the contract terms. A cumulative catch-up adjustment is made when there is a change in the estimate of variable consideration. In addition, the Company recognizes revenues for certain limited scan arrangements on an as-used basis. When physical equipment is provided to the customers as part of the subscription service contract, the Company applies the practical expedient allowed under ASC 842 606, Deferred revenues consist of customer contracts billed or cash received that will be recognized in the future under subscriptions existing at the balance sheet date. The current portion of deferred revenues represents amounts that are expected to be recognized within one Costs of shipping and handling charges incurred by the Company associated with physical scanner appliances and other computer equipment are included in cost of revenues. Sales taxes and other taxes collected from customers to be remitted to government authorities are excluded from revenues. Incremental direct costs of obtaining a contract, which consist of sales commissions primarily for new business and upsells, are deferred and amortized over the estimated life of the customer relationship if renewals are expected and the renewal commission is not one five Non-Marketable Securities During the fiscal year ended December 31, 2018, not no may not No not Recently Adopted Accounting Pronouncements In December 2019, No. 2019 12, 2019 12" 740, 2019 12 December 15, 2020. 2019 12 first 2021 no Recently Issued Accounting Pronouncements Not The Company does not not There have been no 1" 10 December 31, 2020. |
Note 2 - Fair Value of Financia
Note 2 - Fair Value of Financial Instruments | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | NOTE 2. Fair Value of Financial Instruments Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. For certain of the Company’s financial instruments, including certain cash equivalents, accounts receivable, accounts payable and accrued liabilities, the carrying amounts approximate their fair values due to the relatively short maturity of these balances. The Company measures and reports certain cash equivalents, marketable securities, derivative foreign currency forward contracts at fair value in accordance with the provisions of the authoritative accounting guidance that addresses fair value measurements. This guidance establishes a hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. The hierarchy is broken down into three Level 1 Level 2 Level 3 The Company's financial instruments consist of assets and liabilities measured using Level 1 2 1 2 The Company's cash and cash equivalents, and marketable securities consist of the following: September 30, 2021 Unrealized Unrealized Amortized Cost Gains Losses Fair Value (in thousands) Cash and cash equivalents: Cash $ 48,721 $ — $ — $ 48,721 Money market funds 95,819 — — 95,819 Commercial paper 1,200 — — 1,200 Total 145,740 — — 145,740 Short-term marketable securities: Commercial paper 20,541 1 — 20,542 Corporate bonds 31,013 172 — 31,185 Asset-backed securities 3,753 2 — 3,755 U.S. Treasury and government agencies 144,420 46 (1 ) 144,465 Total 199,727 221 (1 ) 199,947 Long-term marketable securities: Asset-backed securities 14,747 23 (21 ) 14,749 U.S. Treasury and government agencies 62,969 3 (13 ) 62,959 Foreign government 1,002 20 — 1,022 Corporate bonds 57,048 367 (21 ) 57,394 Total 135,766 413 (55 ) 136,124 Total $ 481,233 $ 634 $ (56 ) $ 481,811 December 31, 2020 Unrealized Unrealized Amortized Cost Gains Losses Fair Value (in thousands) Cash and cash equivalents: Cash $ 33,105 $ — $ — $ 33,105 Money market funds 38,028 — — 38,028 Commercial paper 2,999 — — 2,999 Total 74,132 — — 74,132 Short-term marketable securities: Commercial paper 6,147 — — 6,147 Corporate bonds 24,368 170 — 24,538 Asset-backed securities 6,263 18 — 6,281 U.S. Treasury and government agencies 244,568 369 (11 ) 244,926 Total 281,346 557 (11 ) 281,892 Long-term marketable securities: Asset-backed securities 38,456 160 (3 ) 38,613 U.S. Treasury and government agencies 6,884 17 — 6,901 Foreign government 1,006 31 — 1,037 Corporate bonds 51,068 839 — 51,907 Total 97,414 1,047 (3 ) 98,458 Total $ 452,892 $ 1,604 $ (14 ) $ 454,482 As of September 30, 2021 December 31, 2020, no 12 not The following table sets forth by level within the fair value hierarchy the fair value of the Company's cash equivalents and marketable securities measured on a recurring basis: September 30, 2021 Level 1 Level 2 Fair Value (in thousands) Money market funds $ 95,819 $ — $ 95,819 Commercial paper — 21,742 21,742 U.S. Treasury and government agencies — 207,424 207,424 Foreign government — 1,022 1,022 Corporate bonds — 88,579 88,579 Asset-backed securities — 18,504 18,504 Total $ 95,819 $ 337,271 $ 433,090 December 31, 2020 Level 1 Level 2 Fair Value (in thousands) Money market funds $ 38,028 $ — $ 38,028 Commercial paper — 9,146 9,146 U.S. Treasury and government agencies — 251,827 251,827 Foreign government — 1,037 1,037 Corporate bonds — 76,445 76,445 Asset-backed securities — 44,894 44,894 Total $ 38,028 $ 383,349 $ 421,377 The following summarizes the fair value of marketable securities by contractual maturity as of September 30, 2021 September 30, 2021 Mature within Mature after One Year Mature over One Year through Two Years Two Years Fair Value (in thousands) Commercial paper $ 21,742 $ — $ — $ 21,742 U.S. Treasury and government agencies 144,465 62,959 — 207,424 Foreign government — 1,022 — 1,022 Corporate bonds 31,185 34,574 22,820 88,579 Asset-backed securities 3,755 5,736 9,013 18,504 Total $ 201,147 $ 104,291 $ 31,833 $ 337,271 Derivative Financial Instruments Designated cash flow hedges The Company enters into foreign currency forward contracts to reduce the risk of variability in future cash flow due to foreign currency exchange rate fluctuation from certain forecasted subscription revenue orders billed in British Pound ("GBP") and Euro and operation expenses incurred in Indian Rupee ("INR"), which are designated as cash flow hedges. Unrealized foreign exchange gains or losses related to those designated cash flow hedge contracts are recorded in Accumulated other comprehensive income ("AOCI") and will be reclassified into revenues or operating expenses, respectively, in the same periods when the hedged transactions hit earnings. As of September 30, 2021 , the Company had designated cash flow hedge forward contracts with notional amounts of €25.6 £9.3 Rs.2,730.7 December 31, 2020 , the Company had designated cash flow hedge forward contracts with notional amounts of €25.9 £8.7 Rs.1,933.5 September 30, 2021 , a net amount of unrealized losses of $0.2 million before tax on the foreign currency forward contracts for GBP and Euro reported in AOCI is expected to be reclassified into revenue within the next 12 September 30, 2021 , a net amount of unrealized gains of $0.2 million before tax on the foreign currency forward contracts for INR reported in AOCI is expected to be reclassified into operating expenses within the next 12 Non-designated forward contracts The Company also uses foreign currency forward contracts to hedge certain foreign currency denominated assets or liabilities, which are not As of September 30, 2021 f €21.9 £9.5 Rs.31.0 December 31, 2020 €17.7 £6.5 Rs.32.8 The following summarizes derivative financial instruments as of September 30, 2021 December 31, 2020 September 30, December 31, 2021 2020 Assets (in thousands) Foreign currency forward contracts designated as cash flow hedge $ 1,538 $ 511 Foreign currency forward contracts not designated as hedging instruments 1,943 27 Total $ 3,481 $ 538 Liabilities Foreign currency forward contracts designated as cash flow hedge $ (213 ) $ (2,200 ) Foreign currency forward contracts not designated as hedging instruments (851 ) (1,677 ) Total $ (1,064 ) $ (3,877 ) All foreign currency forward contracts were valued at fair value using Level 2 The following summarizes the gains (losses) recognized from forward contracts and other foreign currency transactions in other income (expense), net on the condensed consolidated statements of operations: Three Months Ended Nine Months Ended September 30, September 30, 2021 2020 2021 2020 (in thousands) Net gains (losses) from non-designated forward contracts $ 748 $ (688 ) $ 1,792 $ (108 ) Other foreign currency transactions gains (losses) (1,132 ) 961 (2,360 ) 565 Total foreign exchange gains (losses), net (384 ) 273 (568 ) 457 Other expenses (67 ) (64 ) (207 ) (189 ) Other income (expense), net $ (451 ) $ 209 $ (775 ) $ 268 |
Note 3 - Accumulated Other Comp
Note 3 - Accumulated Other Comprehensive Income (Loss) | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Accumulated Other Comprehensive Income Disclosure [Text Block] | NOTE 3. Accumulated Other Comprehensive Income (Loss) The components and changes in accumulated other comprehensive income (loss) for the three nine September 30, 2021 2020 Available-for-sale debt securities Cash flow hedges Total (in thousands) Balances at December 31, 2020 $ 1,224 $ (1,708 ) $ (484 ) Change in unrealized gains (losses) during the period (501 ) 1,092 591 Net losses reclassified into income during the period 8 192 200 Income tax benefit (provision) 104 (291 ) (187 ) Net change during the period (389 ) 993 604 Balances at March 31, 2021 835 (715 ) 120 Change in unrealized losses during the period (273 ) (394 ) (667 ) Net losses reclassified into income during the period 8 152 160 Income tax benefit 63 59 122 Net change during the period (202 ) (183 ) (385 ) Balances at June 30, 2021 633 (898 ) (265 ) Change in unrealized gains (losses) during the period (257 ) 1,367 1,110 Net losses reclassified into income during the period 5 318 323 Income tax benefit (provision) 60 (400 ) (340 ) Net change during the period (192 ) 1,285 1,093 Balances at September 30, 2021 $ 441 $ 387 $ 828 Balances at December 31, 2019 $ 822 $ 340 $ 1,162 Change in unrealized gains during the period 455 386 841 Net gains reclassified into income during the period (110 ) (224 ) (334 ) Income tax provision (79 ) (37 ) (116 ) Net change during the period 266 125 391 Balances at March 31, 2020 1,088 465 1,553 Change in unrealized gains (losses) during the period 1,417 (117 ) 1,300 Net gains reclassified into income during the period (20 ) (137 ) (157 ) Income tax benefit (provision) (319 ) 58 (261 ) Net change during the period 1,078 (196 ) 882 Balances at June 30, 2020 2,166 269 2,435 Change in unrealized losses during the period (802 ) (931 ) (1,733 ) Net losses (gains) reclassified into income during the period 140 (170 ) (30 ) Income tax benefit 151 252 403 Net change during the period (511 ) (849 ) (1,360 ) Balances at September 30, 2020 $ 1,655 $ (580 ) $ 1,075 The effects on income before income taxes of amounts reclassified from AOCI to the condensed consolidated statements of operations were as follows: Three Months Ended Nine Months Ended September 30, September 30, 2021 2020 2021 2020 (in thousands) Reclassification of AOCI - Available-for-sale debt securities Other income (expense), net $ (5 ) $ (140 ) $ (21 ) $ (10 ) Reclassification of AOCI - Cash flow hedges Revenues $ (570 ) $ 298 $ (1,243 ) $ 874 Cost of revenues 51 (25 ) 117 (66 ) Research and development expenses 170 (86 ) 391 (229 ) Sales and marketing expenses 9 (6 ) 22 (17 ) General and administrative expenses 22 (11 ) 51 (31 ) Total $ (318 ) $ 170 $ (662 ) $ 531 |
Note 4 - Property and Equipment
Note 4 - Property and Equipment, Net | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | NOTE 4. Property and Equipment, Net Property and equipment, net, which includes assets under finance leases, consists of the following: September 30, December 31, 2021 2020 (in thousands) Computer equipment $ 156,042 $ 136,286 Computer software 25,806 26,164 Leasehold improvements 21,092 21,107 Scanner appliances 16,855 16,749 Furniture, fixtures and equipment 6,455 6,599 Finance leases - right of use asset — 3,503 Total property and equipment 226,250 210,408 Less: accumulated depreciation and amortization (162,993 ) (145,558 ) Property and equipment, net $ 63,257 $ 64,850 As of September 30, 2021 and December 31, 2020 , physical scanner appliances and other computer equipment that are or will be subject to leases by customers had a net carrying value of $5.7 million and $7.5 million, respectively, including assets that had not three September 30, 2021 2020 , respectively, and $21.2 million and $19.3 million for the nine September 30, 2021 2020 , respectively. Assets under finance leases were acquired upon completion of lease term and placed within computer equipment as of September 30, 2021 . |
Note 5 - Revenue from Contracts
Note 5 - Revenue from Contracts with Customers | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Revenue from Contract with Customer [Text Block] | NOTE 5. Revenue from Contracts with Customers The Company records deferred revenue when cash payments are received or due in advance of its performance obligations offset by revenue recognized in the period. Revenues o f $42.1 million and $38.3 million were recognized during the three September 30, 2021 2020 , respectively, which amounts were included in the deferred revenue balances as of December 31, 2020 2019 , respectively. Revenues of $189.1 million and $168 .0 nine September 30, 2021 2020 December 31, 2020 2019 The Company's payment terms vary by the type and location of its customers. The term between invoicing and when payment is due is not The following table sets forth the expected revenue from all remaining performance obligations as of September 30, 2021 (in thousands) 2021 (remaining three months) $ 35,458 2022 116,982 2023 76,774 2024 16,870 2025 2,055 2026 and thereafter 348 Total $ 248,488 Revenues allocated to remaining performance obligations represents the transaction price of noncancelable orders for which service has not one From time to time, the Company enters into contracts with customers that extend beyond one one not Revenues by sales channel are as follows: Three Months Ended Nine Months Ended September 30, September 30, 2021 2020 2021 2020 (in thousands) Direct $ 61,554 $ 54,821 $ 178,288 $ 156,631 Partner 43,380 38,248 123,104 111,531 Total $ 104,934 $ 93,069 $ 301,392 $ 268,162 The Company utilizes partners to enable and accelerate the adoption of its cloud platform by increasing its distribution capabilities and market awareness of its cloud platform as well as by targeting geographic regions outside the reach of its direct sales force. The Company's channel partners maintain relationships with their customers throughout the territories in which they operate and provide their customers with services and third may one not 12, Deferred costs to obtain contracts are as follows: September 30, 2021 December 31, 2020 (in thousands) Current $ 3,906 $ 3,459 Noncurrent $ 7,296 $ 6,906 For the three September 30, 2021 2020 , the Company recognized $1.0 million and $0.8 million, respectively, of amortization expense relating to deferred costs to obtain contracts. For the nine September 30, 2021 2020 , the Company recognized $2.8 million and $2.2 million, respectively, of amortization expense relating to deferred costs to obtain contracts. During the same periods, there was no |
Note 6 - Intangible Assets, Net
Note 6 - Intangible Assets, Net | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Intangible Assets Disclosure [Text Block] | NOTE 6. Intangible Assets, Net Intangible assets consist primarily of developed technology and patent licenses acquired from business or asset acquisitions. Acquired intangibles are amortized on a straight-line basis over the respective estimated useful lives of the assets. On August 19, 2021, one five The carrying values of intangible assets are as follows: September 30, 2021 Weighted Average Weighted Average Life Remaining Life Accumulated (in thousands) (Years) (Years) Cost Amortization Net Book Value Developed technology 4.5 1.2 $ 28,556 $ (20,845 ) $ 7,711 Patent licenses 14.0 2.9 1,387 (1,096 ) 291 Non-compete agreements 2.0 0.8 500 (292 ) 208 Total intangibles subject to amortization $ 30,443 $ (22,233 ) 8,210 Intangible assets not subject to amortization 40 Total intangible assets, net $ 8,250 December 31, 2020 Weighted Average Weighted Average Life Remaining Life Accumulated (in thousands) (Years) (Years) Cost Amortization Net Book Value Developed technology 4.4 1.8 $ 27,356 $ (16,152 ) $ 11,204 Patent licenses 14.0 3.7 1,387 (1,021 ) 366 Non-compete agreements 2.0 1.6 500 (104 ) 396 Total intangibles subject to amortization $ 29,243 $ (17,277 ) 11,966 Intangible assets not subject to amortization 40 Total intangible assets, net $ 12,006 Intangible asset amortization expense was $1.7 million and $1.6 million for the three September 30, 2021 2020 , respectively, and $5.0 million and $4.6 million for the nine September 30, 2021 2020 , respectively. Intangible asset amortization expenses were primarily recorded in cost of revenues in the condensed consolidated statements of operations. As of September 30, 2021 (in thousands) 2021 (remaining three months) $ 1,705 2022 5,063 2023 590 2024 452 2025 240 2026 160 Total expected future amortization expense $ 8,210 |
Note 7 - Leases
Note 7 - Leases | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Lessee, Operating Leases and Finance Lease [Text Block] | NOTE 7. Leases The Company leases certain offices, computer equipment and its data center facilities under non-cancelable operating leases for varying periods through 2028. not not three September 30, 2021 2020 , respectively, and $12.5 million and $13.5 million for the nine September 30, 2021 2020 , respectively. Supplemental cash flow information related to operating leases was as follows: Nine Months Ended September 30, 2021 2020 (in thousands) Cash payments included in the measurement of lease liabilities $ 10,776 $ 9,183 Lease liabilities arising from obtaining right-of-use assets $ 1,739 $ 15,735 The weighted average remaining lease term and the weighted average discount rate of the Company's operating leases were as follows: September 30, 2021 December 31, 2020 Weighted average remaining lease term (years) 3.4 4.1 Weighted average discount rate 4.9 % 4.8 % |
Note 8 - Commitments and Contin
Note 8 - Commitments and Contingencies | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | NOTE 8. Commitments and Contingencies Indemnifications The Company from time to time enters into certain types of contracts that contingently require it to indemnify various parties against claims from third may may not not The Company maintains director and officer insurance, which may |
Note 9 - Stockholders' Equity a
Note 9 - Stockholders' Equity and Stock-based Compensation | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Shareholders' Equity and Share-based Payments [Text Block] | NOTE 9. Stockholders' Equity and Stock-Based Compensation Equity Incentive Plans 2012 Under the 2012 "2012 September 30, 2021 , including 1,963 thousand shares authorized during the nine September 30, 2021 . Options may September 30, 2021 , 8,418 thousand shares were available for grant under the 2012 2000 Under the 2000 "2000 2000 no 2000 2000 2021 On June 9, 2021, 2021 August 16 February 16 may first first August 16, 2021 February 15, 2022. Stock-Based Compensation The following table shows a summary of the stock-based compensation expense included in the condensed consolidated statements of operations: Three Months Ended Nine Months Ended September 30, September 30, 2021 2020 2021 2020 (in thousands) Cost of revenues $ 986 $ 770 $ 2,702 $ 1,967 Research and development 2,723 3,197 7,520 9,887 Sales and marketing 1,642 1,227 4,356 4,300 General and administrative 4,112 5,295 41,640 13,776 Total stock-based compensation $ 9,463 $ 10,489 $ 56,218 $ 29,930 As of September 30, 2021 , the Company had unrecognized stock-based compensation expenses of $15.9 million, $52.5 million and $0.5 million related to options, RSUs and ESPP, respectively, which are expected to be recognized over weighted-average periods of 2.8 years, 2.7 years and 0.4 years, respectively. Performance-Based Restricted Stock Units and Stock Options On April 27, 2021, three January 2021 December 2023. On March 19, 2021, 2021, 2020 2019 100% nine September 30, 2021 In February 2021 February 2020, 2019 2020 2019, Stock Option Activity A summary of the Company’s stock option activity is as follows: Weighted Weighted Average Outstanding Average Remaining Aggregate Options Exercise Price Contractual Life Intrinsic Value (in thousands) (Years) (in thousands) Balance as of December 31, 2020 2,215 $ 59.07 6.5 $ 139,121 Granted 362 $ 110.11 Exercised (243 ) $ 45.03 Canceled (102 ) $ 100.70 Balance as of September 30, 2021 2,232 $ 66.98 5.1 $ 100,801 Vested and expected to vest - September 30, 2021 2,061 $ 63.77 4.8 $ 99,394 Exercisable - September 30, 2021 1,589 $ 52.09 3.6 $ 94,325 Restricted Stock Unit Activity A summary of the Company’s RSU activity is as follows: Weighted Average Grant Date Outstanding Fair Value RSUs Per Share (in thousands) Balance as of December 31, 2020 1,047 $ 86.78 Granted 289 $ 109.54 Vested (463 ) $ 84.83 Canceled (157 ) $ 87.86 Balance as of September 30, 2021 716 $ 97.00 Outstanding and expected to vest - September 30, 2021 612 $ 95.61 Share Repurchase Program On February 5, 2018, two February 12, 2018. October 30, 2018, October 30, 2019, May 7, 2020 February 10, 2021, may 10b 18 1934, 10b5 1 Repurchased shares are retired and reclassified as authorized and unissued shares of common stock. On retirement of the repurchased shares, common stock is reduced by an amount equal to the number of shares being retired multiplied by the par value. The excess amount that is retired over its par value is first During the nine September 30, 2021 September 30, 2021 On November 3, 2021, |
Note 10 - Net Income Per Share
Note 10 - Net Income Per Share | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | NOTE 10. Net Income Per Share The computations for basic and diluted net income per share are as follows: Three Months Ended Nine Months Ended September 30, September 30, 2021 2020 2021 2020 (in thousands, except per share data) Numerator: Net income $ 27,769 $ 22,743 $ 49,139 $ 67,756 Denominator: Basic weighted average shares 38,925 39,238 39,077 39,171 Effect of potentially dilutive shares: Stock options 852 1,229 851 1,344 Restricted stock units 161 297 219 328 Diluted weighted average shares 39,938 40,764 40,147 40,843 Net income per share: Basic $ 0.71 $ 0.58 $ 1.26 $ 1.73 Diluted $ 0.70 $ 0.56 $ 1.22 $ 1.66 Potentially dilutive shares not Three Months Ended Nine Months Ended September 30, September 30, 2021 2020 2021 2020 (in thousands) Stock options 543 476 531 503 Restricted stock units 50 60 81 43 Employee stock purchase plan 1 — — — Total anti-dilutive shares 594 536 612 546 |
Note 11 - Income Taxes
Note 11 - Income Taxes | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | NOTE 11. Income Taxes The Company's income tax provision for interim periods is determined using an estimate of its annual effective tax rate, adjusted for discrete items, if any, that arise during the period. Each quarter, the Company updates its estimate of the annual effective tax rate, and if the estimated annual effective tax rate changes, the Company makes a cumulative adjustment in such period. The Company's quarterly tax provision, and estimate of its annual effective tax rate, is subject to variation due to several factors, including variability in pre-tax income (or loss), the mix of jurisdictions to which such income relates, changes in how the Company does business, tax law developments and possible outcomes of audits. The Company's estimated effective tax rate for the year differs from the U.S. statutory rate of 21% The Company recorded an income tax provision of $4.3 million and $4.9 million for the three September 30, 2021 2020 , respectively, resulting in an effective tax rate of 13.4% and 17.7%, respectively. The decrease in income tax provision for the three September 30, 2021 compared to the three September 30, 2020 was primarily due to . The Company recorded an income tax provision of $10.6 million and $9.2 million for the nine September 30, 2021 2020 , respectively, resulting in an effective tax rate of 17.7% and 11.9%, respectively. The increase in income tax provision for the nine September 30, 2021 compared to the nine September 30, 2020 was primarily due to a reduction in excess tax benefits from stock-based compensation . As of September 30, 2021 , the Company had unrecognized tax benefits of $9.6 million, of which $4.9 million, if recognized, would favorably impact the Company's effective tax rate. As of December 31, 2020 , the Company had unrecognized tax benefits of $8.9 million, of which $4.6 million, if recognized, would favorably impact the Company's effective tax rate. The Company does not 12 On June 29, 2020, 2020 $5 2020, 2021 2022. not 2020 |
Note 12 - Segment Information a
Note 12 - Segment Information and Information About Geographic Area | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | NOTE 12. Segment Information and Information about Geographic Area Under ASC 280 one one Revenue by geographic area, based on the customer's billing address, is as follows: Three Months Ended Nine Months Ended September 30, September 30, 2021 2020 2021 2020 (in thousands) United States $ 63,599 $ 59,152 $ 184,722 $ 171,130 Foreign 41,335 33,917 116,670 97,032 Total revenues $ 104,934 $ 93,069 $ 301,392 $ 268,162 Property and equipment, net, by geographic area, is as follows: September 30, December 31, 2021 2020 (in thousands) United States $ 43,994 $ 43,791 India 11,287 12,465 Rest of world 7,976 8,594 Total property and equipment, net $ 63,257 $ 64,850 |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 9 Months Ended |
Sep. 30, 2021 | |
Accounting Policies [Abstract] | |
Description Of Business Policy [Policy Text Block] | Description of Business Qualys, Inc. (the “Company”, "we", "us", "our") was incorporated in the state of Delaware on December 30, 1999. |
Basis of Accounting, Policy [Policy Text Block] | Basis of Presentation The accompanying unaudited condensed consolidated financial statements and condensed footnotes have been prepared in accordance with accounting principles generally accepted in the United States ("U.S. GAAP") for interim financial information as well as the instructions to Form 10 December 31, 2020 not three nine September 30, 2021 not December 31, 2021 10 December 31, 2020 |
Risk and Uncertainties, Policy [Policy Text Block] | Risks and Uncertainties In March 2020, 19" 19, may may not 19 19 may |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates The preparation of the unaudited condensed consolidated financial statements in conformity with U.S. GAAP requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of assets and liabilities at the date of the condensed consolidated financial statements and the reported results of operations during the reporting period. The Company’s management regularly assesses these estimates, which primarily affect revenue recognition, allowance for credit loss, the valuation of goodwill and intangible assets, leases, stock-based compensation and income tax provision. Actual results could differ from those estimates and such differences may |
Revenue from Contract with Customer [Policy Text Block] | Revenue Recognition The Company derives revenues from subscriptions that require customers to pay a fee in order to access the Company’s cloud solutions. Contract period with customers generally ranges from less than a year to five not not not The Company determines revenue recognition through the following steps: • Identification of the contract, or contracts, with a customer; • Identification of the performance obligations in the contract; • Determination of the transaction price • Allocation of the transaction price to the performance obligations in the contract; and • Recognition of revenue when, or as, the Company satisfies a performance obligation. At the inception of a customer contract, the Company makes an assessment as to that customer's ability to pay for the services provided. The Company assesses collectability based on several factors, including credit worthiness of the customer along with past transaction history. In addition, the Company performs periodic evaluations of its customers’ financial condition. Most of the Company’s revenue contracts are subscription based and contain a single performance obligation. The subscription contracts typically do not 606. not not As the Company's cloud-based subscription services are delivered to customers electronically and over time, revenue is generally recognized ratably over the contract terms. A cumulative catch-up adjustment is made when there is a change in the estimate of variable consideration. In addition, the Company recognizes revenues for certain limited scan arrangements on an as-used basis. When physical equipment is provided to the customers as part of the subscription service contract, the Company applies the practical expedient allowed under ASC 842 606, Deferred revenues consist of customer contracts billed or cash received that will be recognized in the future under subscriptions existing at the balance sheet date. The current portion of deferred revenues represents amounts that are expected to be recognized within one Costs of shipping and handling charges incurred by the Company associated with physical scanner appliances and other computer equipment are included in cost of revenues. Sales taxes and other taxes collected from customers to be remitted to government authorities are excluded from revenues. Incremental direct costs of obtaining a contract, which consist of sales commissions primarily for new business and upsells, are deferred and amortized over the estimated life of the customer relationship if renewals are expected and the renewal commission is not one five |
Securities Owned Not Readily Marketable, Policy [Policy Text Block] | Non-Marketable Securities During the fiscal year ended December 31, 2018, not no may not No not |
New Accounting Pronouncements, Policy [Policy Text Block] | Recently Adopted Accounting Pronouncements In December 2019, No. 2019 12, 2019 12" 740, 2019 12 December 15, 2020. 2019 12 first 2021 no Recently Issued Accounting Pronouncements Not The Company does not not There have been no 1" 10 December 31, 2020. |
Note 2 - Fair Value of Financ_2
Note 2 - Fair Value of Financial Instruments (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Notes Tables | |
Cash and Cash Equivalents and Debt Securities, Available-for-sale, Amortized Cost to Fair Value [Table Text Block] | September 30, 2021 Unrealized Unrealized Amortized Cost Gains Losses Fair Value (in thousands) Cash and cash equivalents: Cash $ 48,721 $ — $ — $ 48,721 Money market funds 95,819 — — 95,819 Commercial paper 1,200 — — 1,200 Total 145,740 — — 145,740 Short-term marketable securities: Commercial paper 20,541 1 — 20,542 Corporate bonds 31,013 172 — 31,185 Asset-backed securities 3,753 2 — 3,755 U.S. Treasury and government agencies 144,420 46 (1 ) 144,465 Total 199,727 221 (1 ) 199,947 Long-term marketable securities: Asset-backed securities 14,747 23 (21 ) 14,749 U.S. Treasury and government agencies 62,969 3 (13 ) 62,959 Foreign government 1,002 20 — 1,022 Corporate bonds 57,048 367 (21 ) 57,394 Total 135,766 413 (55 ) 136,124 Total $ 481,233 $ 634 $ (56 ) $ 481,811 December 31, 2020 Unrealized Unrealized Amortized Cost Gains Losses Fair Value (in thousands) Cash and cash equivalents: Cash $ 33,105 $ — $ — $ 33,105 Money market funds 38,028 — — 38,028 Commercial paper 2,999 — — 2,999 Total 74,132 — — 74,132 Short-term marketable securities: Commercial paper 6,147 — — 6,147 Corporate bonds 24,368 170 — 24,538 Asset-backed securities 6,263 18 — 6,281 U.S. Treasury and government agencies 244,568 369 (11 ) 244,926 Total 281,346 557 (11 ) 281,892 Long-term marketable securities: Asset-backed securities 38,456 160 (3 ) 38,613 U.S. Treasury and government agencies 6,884 17 — 6,901 Foreign government 1,006 31 — 1,037 Corporate bonds 51,068 839 — 51,907 Total 97,414 1,047 (3 ) 98,458 Total $ 452,892 $ 1,604 $ (14 ) $ 454,482 |
Fair Value, Assets Measured on Recurring Basis [Table Text Block] | September 30, 2021 Level 1 Level 2 Fair Value (in thousands) Money market funds $ 95,819 $ — $ 95,819 Commercial paper — 21,742 21,742 U.S. Treasury and government agencies — 207,424 207,424 Foreign government — 1,022 1,022 Corporate bonds — 88,579 88,579 Asset-backed securities — 18,504 18,504 Total $ 95,819 $ 337,271 $ 433,090 December 31, 2020 Level 1 Level 2 Fair Value (in thousands) Money market funds $ 38,028 $ — $ 38,028 Commercial paper — 9,146 9,146 U.S. Treasury and government agencies — 251,827 251,827 Foreign government — 1,037 1,037 Corporate bonds — 76,445 76,445 Asset-backed securities — 44,894 44,894 Total $ 38,028 $ 383,349 $ 421,377 |
Investments Classified by Contractual Maturity Date [Table Text Block] | September 30, 2021 Mature within Mature after One Year Mature over One Year through Two Years Two Years Fair Value (in thousands) Commercial paper $ 21,742 $ — $ — $ 21,742 U.S. Treasury and government agencies 144,465 62,959 — 207,424 Foreign government — 1,022 — 1,022 Corporate bonds 31,185 34,574 22,820 88,579 Asset-backed securities 3,755 5,736 9,013 18,504 Total $ 201,147 $ 104,291 $ 31,833 $ 337,271 |
Schedule of Derivative Instruments [Table Text Block] | September 30, December 31, 2021 2020 Assets (in thousands) Foreign currency forward contracts designated as cash flow hedge $ 1,538 $ 511 Foreign currency forward contracts not designated as hedging instruments 1,943 27 Total $ 3,481 $ 538 Liabilities Foreign currency forward contracts designated as cash flow hedge $ (213 ) $ (2,200 ) Foreign currency forward contracts not designated as hedging instruments (851 ) (1,677 ) Total $ (1,064 ) $ (3,877 ) |
Derivative Instruments, Gain (Loss) [Table Text Block] | Three Months Ended Nine Months Ended September 30, September 30, 2021 2020 2021 2020 (in thousands) Net gains (losses) from non-designated forward contracts $ 748 $ (688 ) $ 1,792 $ (108 ) Other foreign currency transactions gains (losses) (1,132 ) 961 (2,360 ) 565 Total foreign exchange gains (losses), net (384 ) 273 (568 ) 457 Other expenses (67 ) (64 ) (207 ) (189 ) Other income (expense), net $ (451 ) $ 209 $ (775 ) $ 268 |
Note 3 - Accumulated Other Co_2
Note 3 - Accumulated Other Comprehensive Income (Loss) (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Notes Tables | |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | Available-for-sale debt securities Cash flow hedges Total (in thousands) Balances at December 31, 2020 $ 1,224 $ (1,708 ) $ (484 ) Change in unrealized gains (losses) during the period (501 ) 1,092 591 Net losses reclassified into income during the period 8 192 200 Income tax benefit (provision) 104 (291 ) (187 ) Net change during the period (389 ) 993 604 Balances at March 31, 2021 835 (715 ) 120 Change in unrealized losses during the period (273 ) (394 ) (667 ) Net losses reclassified into income during the period 8 152 160 Income tax benefit 63 59 122 Net change during the period (202 ) (183 ) (385 ) Balances at June 30, 2021 633 (898 ) (265 ) Change in unrealized gains (losses) during the period (257 ) 1,367 1,110 Net losses reclassified into income during the period 5 318 323 Income tax benefit (provision) 60 (400 ) (340 ) Net change during the period (192 ) 1,285 1,093 Balances at September 30, 2021 $ 441 $ 387 $ 828 Balances at December 31, 2019 $ 822 $ 340 $ 1,162 Change in unrealized gains during the period 455 386 841 Net gains reclassified into income during the period (110 ) (224 ) (334 ) Income tax provision (79 ) (37 ) (116 ) Net change during the period 266 125 391 Balances at March 31, 2020 1,088 465 1,553 Change in unrealized gains (losses) during the period 1,417 (117 ) 1,300 Net gains reclassified into income during the period (20 ) (137 ) (157 ) Income tax benefit (provision) (319 ) 58 (261 ) Net change during the period 1,078 (196 ) 882 Balances at June 30, 2020 2,166 269 2,435 Change in unrealized losses during the period (802 ) (931 ) (1,733 ) Net losses (gains) reclassified into income during the period 140 (170 ) (30 ) Income tax benefit 151 252 403 Net change during the period (511 ) (849 ) (1,360 ) Balances at September 30, 2020 $ 1,655 $ (580 ) $ 1,075 |
Reclassification out of Accumulated Other Comprehensive Income [Table Text Block] | Three Months Ended Nine Months Ended September 30, September 30, 2021 2020 2021 2020 (in thousands) Reclassification of AOCI - Available-for-sale debt securities Other income (expense), net $ (5 ) $ (140 ) $ (21 ) $ (10 ) Reclassification of AOCI - Cash flow hedges Revenues $ (570 ) $ 298 $ (1,243 ) $ 874 Cost of revenues 51 (25 ) 117 (66 ) Research and development expenses 170 (86 ) 391 (229 ) Sales and marketing expenses 9 (6 ) 22 (17 ) General and administrative expenses 22 (11 ) 51 (31 ) Total $ (318 ) $ 170 $ (662 ) $ 531 |
Note 4 - Property and Equipme_2
Note 4 - Property and Equipment, Net (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | September 30, December 31, 2021 2020 (in thousands) Computer equipment $ 156,042 $ 136,286 Computer software 25,806 26,164 Leasehold improvements 21,092 21,107 Scanner appliances 16,855 16,749 Furniture, fixtures and equipment 6,455 6,599 Finance leases - right of use asset — 3,503 Total property and equipment 226,250 210,408 Less: accumulated depreciation and amortization (162,993 ) (145,558 ) Property and equipment, net $ 63,257 $ 64,850 |
Note 5 - Revenue from Contrac_2
Note 5 - Revenue from Contracts with Customers (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Notes Tables | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Table Text Block] | (in thousands) 2021 (remaining three months) $ 35,458 2022 116,982 2023 76,774 2024 16,870 2025 2,055 2026 and thereafter 348 Total $ 248,488 |
Disaggregation of Revenue [Table Text Block] | Three Months Ended Nine Months Ended September 30, September 30, 2021 2020 2021 2020 (in thousands) Direct $ 61,554 $ 54,821 $ 178,288 $ 156,631 Partner 43,380 38,248 123,104 111,531 Total $ 104,934 $ 93,069 $ 301,392 $ 268,162 |
Contract With Customer, Commission Asset Balances [Table Text Block] | September 30, 2021 December 31, 2020 (in thousands) Current $ 3,906 $ 3,459 Noncurrent $ 7,296 $ 6,906 |
Note 6 - Intangible Assets, N_2
Note 6 - Intangible Assets, Net (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Notes Tables | |
Schedule of Acquired Finite-Lived Intangible Assets by Major Class [Table Text Block] | September 30, 2021 Weighted Average Weighted Average Life Remaining Life Accumulated (in thousands) (Years) (Years) Cost Amortization Net Book Value Developed technology 4.5 1.2 $ 28,556 $ (20,845 ) $ 7,711 Patent licenses 14.0 2.9 1,387 (1,096 ) 291 Non-compete agreements 2.0 0.8 500 (292 ) 208 Total intangibles subject to amortization $ 30,443 $ (22,233 ) 8,210 Intangible assets not subject to amortization 40 Total intangible assets, net $ 8,250 December 31, 2020 Weighted Average Weighted Average Life Remaining Life Accumulated (in thousands) (Years) (Years) Cost Amortization Net Book Value Developed technology 4.4 1.8 $ 27,356 $ (16,152 ) $ 11,204 Patent licenses 14.0 3.7 1,387 (1,021 ) 366 Non-compete agreements 2.0 1.6 500 (104 ) 396 Total intangibles subject to amortization $ 29,243 $ (17,277 ) 11,966 Intangible assets not subject to amortization 40 Total intangible assets, net $ 12,006 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | (in thousands) 2021 (remaining three months) $ 1,705 2022 5,063 2023 590 2024 452 2025 240 2026 160 Total expected future amortization expense $ 8,210 |
Note 7 - Leases (Tables)
Note 7 - Leases (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Notes Tables | |
Lessee, Operating Lease, Supplemental Cash Flow Disclosure [Table Text Block] | Nine Months Ended September 30, 2021 2020 (in thousands) Cash payments included in the measurement of lease liabilities $ 10,776 $ 9,183 Lease liabilities arising from obtaining right-of-use assets $ 1,739 $ 15,735 |
Lessee, Weighted Average Remaining Lease Term and Weighted Average Discount Rate [Table Text Block] | September 30, 2021 December 31, 2020 Weighted average remaining lease term (years) 3.4 4.1 Weighted average discount rate 4.9 % 4.8 % |
Note 9 - Stockholders' Equity_2
Note 9 - Stockholders' Equity and Stock-based Compensation (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Notes Tables | |
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block] | Three Months Ended Nine Months Ended September 30, September 30, 2021 2020 2021 2020 (in thousands) Cost of revenues $ 986 $ 770 $ 2,702 $ 1,967 Research and development 2,723 3,197 7,520 9,887 Sales and marketing 1,642 1,227 4,356 4,300 General and administrative 4,112 5,295 41,640 13,776 Total stock-based compensation $ 9,463 $ 10,489 $ 56,218 $ 29,930 |
Share-based Payment Arrangement, Option, Activity [Table Text Block] | Weighted Weighted Average Outstanding Average Remaining Aggregate Options Exercise Price Contractual Life Intrinsic Value (in thousands) (Years) (in thousands) Balance as of December 31, 2020 2,215 $ 59.07 6.5 $ 139,121 Granted 362 $ 110.11 Exercised (243 ) $ 45.03 Canceled (102 ) $ 100.70 Balance as of September 30, 2021 2,232 $ 66.98 5.1 $ 100,801 Vested and expected to vest - September 30, 2021 2,061 $ 63.77 4.8 $ 99,394 Exercisable - September 30, 2021 1,589 $ 52.09 3.6 $ 94,325 |
Share-based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity [Table Text Block] | Weighted Average Grant Date Outstanding Fair Value RSUs Per Share (in thousands) Balance as of December 31, 2020 1,047 $ 86.78 Granted 289 $ 109.54 Vested (463 ) $ 84.83 Canceled (157 ) $ 87.86 Balance as of September 30, 2021 716 $ 97.00 Outstanding and expected to vest - September 30, 2021 612 $ 95.61 |
Note 10 - Net Income Per Share
Note 10 - Net Income Per Share (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three Months Ended Nine Months Ended September 30, September 30, 2021 2020 2021 2020 (in thousands, except per share data) Numerator: Net income $ 27,769 $ 22,743 $ 49,139 $ 67,756 Denominator: Basic weighted average shares 38,925 39,238 39,077 39,171 Effect of potentially dilutive shares: Stock options 852 1,229 851 1,344 Restricted stock units 161 297 219 328 Diluted weighted average shares 39,938 40,764 40,147 40,843 Net income per share: Basic $ 0.71 $ 0.58 $ 1.26 $ 1.73 Diluted $ 0.70 $ 0.56 $ 1.22 $ 1.66 |
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block] | Three Months Ended Nine Months Ended September 30, September 30, 2021 2020 2021 2020 (in thousands) Stock options 543 476 531 503 Restricted stock units 50 60 81 43 Employee stock purchase plan 1 — — — Total anti-dilutive shares 594 536 612 546 |
Note 12 - Segment Information_2
Note 12 - Segment Information and Information About Geographic Area (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Notes Tables | |
Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas [Table Text Block] | Three Months Ended Nine Months Ended September 30, September 30, 2021 2020 2021 2020 (in thousands) United States $ 63,599 $ 59,152 $ 184,722 $ 171,130 Foreign 41,335 33,917 116,670 97,032 Total revenues $ 104,934 $ 93,069 $ 301,392 $ 268,162 September 30, December 31, 2021 2020 (in thousands) United States $ 43,994 $ 43,791 India 11,287 12,465 Rest of world 7,976 8,594 Total property and equipment, net $ 63,257 $ 64,850 |
Note 1 - Description of Busin_2
Note 1 - Description of Business and Summary of Significant Accounting Policies (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2018 | Sep. 30, 2021 | |
Capitalized Contract Cost, Amortization Period (Year) | 5 years | |
Proceeds from Dividends Received | $ 0 | |
Preferred Stock [Member] | ||
Investments, Total | 2,500 | |
Other than Temporary Impairment Losses, Investments, Total | $ 0 |
Note 2 - Fair Value of Financ_3
Note 2 - Fair Value of Financial Instruments (Details Textual) Pure in Thousands, € in Millions, ₨ in Millions, £ in Millions, SFr in Millions, $ in Millions | Sep. 30, 2021USD ($) | Sep. 30, 2021EUR (€) | Sep. 30, 2021INR (₨) | Sep. 30, 2021GBP (£) | Sep. 30, 2021CHF (SFr) | Dec. 31, 2020EUR (€) | Dec. 31, 2020INR (₨) | Dec. 31, 2020GBP (£) |
Marketable Securities In Unrealized Loss Positions, More Than 12 Months Qualitative Disclosure, Number Of Positions | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Foreign Exchange Contract [Member] | Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | ||||||||
Derivative, Notional Amount | $ 9.3 | € 25.6 | ₨ 2,730.7 | € 25.9 | ₨ 1,933.5 | £ 8.7 | ||
Foreign Exchange Contract [Member] | Not Designated as Hedging Instrument [Member] | ||||||||
Derivative, Notional Amount | € 21.9 | ₨ 31 | £ 9.5 | SFr 2 | € 17.7 | ₨ 32.8 | £ 6.5 | |
Foreign Exchange Contracts for GBP and Euro [Member] | Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | ||||||||
Foreign Currency Cash Flow Hedge Gain (Loss) to be Reclassified During Next 12 Months | 0.2 | |||||||
Foreign Exchange Contracts for INR [Member] | Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | ||||||||
Foreign Currency Cash Flow Hedge Gain (Loss) to be Reclassified During Next 12 Months | $ 0.2 |
Note 2 - Fair Value of Financ_4
Note 2 - Fair Value of Financial Instruments - Cash and Cash Equivalents (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Cash and cash equivalents | $ 145,740 | $ 74,132 |
Short-term marketable securities, amortization cost | 199,727 | 281,346 |
Unrealized gains, short-term securities | 221 | 557 |
Short-term marketable securities, unrealized loss | (1) | (11) |
Short-term marketable securities | 199,947 | 281,892 |
Long-term marketable securities, amortization cost | 135,766 | 97,414 |
Unrealized gains, long-term securities | 413 | 1,047 |
Long-term marketable securities, unrealized loss | (55) | (3) |
Long-term marketable securities | 136,124 | 98,458 |
Cash and cash equivalents and marketable securities, amortization cost | 481,233 | 452,892 |
Unrealized gains, securities | 634 | 1,604 |
Unrealized loss, securities | (56) | (14) |
Cash and cash equivalents and short-term and long-term Marketable Securities, fair value | 481,811 | 454,482 |
Commercial Paper, Not Included with Cash and Cash Equivalents [Member] | ||
Short-term marketable securities, amortization cost | 20,541 | 6,147 |
Unrealized gains, short-term securities | 1 | 0 |
Short-term marketable securities, unrealized loss | 0 | 0 |
Short-term marketable securities | 20,542 | 6,147 |
Corporate Debt Securities [Member] | ||
Short-term marketable securities, amortization cost | 31,013 | 24,368 |
Unrealized gains, short-term securities | 172 | 170 |
Short-term marketable securities, unrealized loss | 0 | 0 |
Short-term marketable securities | 31,185 | 24,538 |
Long-term marketable securities, amortization cost | 57,048 | 51,068 |
Unrealized gains, long-term securities | 367 | 839 |
Long-term marketable securities, unrealized loss | (21) | 0 |
Long-term marketable securities | 57,394 | 51,907 |
Asset-backed Securities [Member] | ||
Short-term marketable securities, amortization cost | 3,753 | 6,263 |
Unrealized gains, short-term securities | 2 | 18 |
Short-term marketable securities, unrealized loss | 0 | 0 |
Short-term marketable securities | 3,755 | 6,281 |
Long-term marketable securities, amortization cost | 14,747 | 38,456 |
Unrealized gains, long-term securities | 23 | 160 |
Long-term marketable securities, unrealized loss | (21) | (3) |
Long-term marketable securities | 14,749 | 38,613 |
US Government Agencies Debt Securities [Member] | ||
Short-term marketable securities, amortization cost | 144,420 | 244,568 |
Unrealized gains, short-term securities | 46 | 369 |
Short-term marketable securities, unrealized loss | (1) | (11) |
Short-term marketable securities | 144,465 | 244,926 |
Long-term marketable securities, amortization cost | 62,969 | 6,884 |
Unrealized gains, long-term securities | 3 | 17 |
Long-term marketable securities, unrealized loss | (13) | 0 |
Long-term marketable securities | 62,959 | 6,901 |
Foreign Government Agencies [Member] | ||
Long-term marketable securities, amortization cost | 1,002 | 1,006 |
Unrealized gains, long-term securities | 20 | 31 |
Long-term marketable securities, unrealized loss | 0 | 0 |
Long-term marketable securities | 1,022 | 1,037 |
Cash [Member] | ||
Cash and cash equivalents | 48,721 | 33,105 |
Money Market Funds [Member] | ||
Cash and cash equivalents | 95,819 | 38,028 |
Commercial Paper [Member] | ||
Cash and cash equivalents | $ 1,200 | $ 2,999 |
Note 2 - Fair Value of Financ_5
Note 2 - Fair Value of Financial Instruments - Fair Value Hierarchy (Details) - Fair Value, Recurring [Member] - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Money market funds | $ 95,819 | $ 38,028 |
Commercial paper | 21,742 | 9,146 |
U.S. Treasury and government agencies | 207,424 | 251,827 |
Foreign government | 1,022 | 1,037 |
Corporate bonds | 88,579 | 76,445 |
Asset-backed securities | 18,504 | 44,894 |
Total | 433,090 | 421,377 |
Fair Value, Inputs, Level 1 [Member] | ||
Money market funds | 95,819 | 38,028 |
Commercial paper | 0 | 0 |
U.S. Treasury and government agencies | 0 | 0 |
Foreign government | 0 | 0 |
Corporate bonds | 0 | 0 |
Asset-backed securities | 0 | 0 |
Total | 95,819 | 38,028 |
Fair Value, Inputs, Level 2 [Member] | ||
Money market funds | 0 | 0 |
Commercial paper | 21,742 | 9,146 |
U.S. Treasury and government agencies | 207,424 | 251,827 |
Foreign government | 1,022 | 1,037 |
Corporate bonds | 88,579 | 76,445 |
Asset-backed securities | 18,504 | 44,894 |
Total | $ 337,271 | $ 383,349 |
Note 2 - Fair Value of Financ_6
Note 2 - Fair Value of Financial Instruments - Summary of the Fair Value of Marketable Securities (Details) $ in Thousands | Sep. 30, 2021USD ($) |
Available-for-sale Securities, Debt and Equity Maturities, Next Twelve Months, Fair Value | $ 201,147 |
Available-for-sale Securities, Debt and Equity Maturities, Year One through Two, Fair Value | 104,291 |
Available-for-sale Securities, Debt and Equity Maturities, Year over two years, Fair Value | 31,833 |
Debt Securities, Available-for-sale | 337,271 |
Commercial Paper [Member] | |
Available-for-sale Securities, Debt and Equity Maturities, Next Twelve Months, Fair Value | 21,742 |
Available-for-sale Securities, Debt and Equity Maturities, Year One through Two, Fair Value | 0 |
Available-for-sale Securities, Debt and Equity Maturities, Year over two years, Fair Value | 0 |
Debt Securities, Available-for-sale | 21,742 |
US Government Agencies Debt Securities [Member] | |
Available-for-sale Securities, Debt and Equity Maturities, Next Twelve Months, Fair Value | 144,465 |
Available-for-sale Securities, Debt and Equity Maturities, Year One through Two, Fair Value | 62,959 |
Available-for-sale Securities, Debt and Equity Maturities, Year over two years, Fair Value | 0 |
Debt Securities, Available-for-sale | 207,424 |
Foreign Government Agencies [Member] | |
Available-for-sale Securities, Debt and Equity Maturities, Next Twelve Months, Fair Value | 0 |
Available-for-sale Securities, Debt and Equity Maturities, Year One through Two, Fair Value | 1,022 |
Available-for-sale Securities, Debt and Equity Maturities, Year over two years, Fair Value | 0 |
Debt Securities, Available-for-sale | 1,022 |
Corporate Bond Securities [Member] | |
Available-for-sale Securities, Debt and Equity Maturities, Next Twelve Months, Fair Value | 31,185 |
Available-for-sale Securities, Debt and Equity Maturities, Year One through Two, Fair Value | 34,574 |
Available-for-sale Securities, Debt and Equity Maturities, Year over two years, Fair Value | 22,820 |
Debt Securities, Available-for-sale | 88,579 |
Asset-backed Securities [Member] | |
Available-for-sale Securities, Debt and Equity Maturities, Next Twelve Months, Fair Value | 3,755 |
Available-for-sale Securities, Debt and Equity Maturities, Year One through Two, Fair Value | 5,736 |
Available-for-sale Securities, Debt and Equity Maturities, Year over two years, Fair Value | 9,013 |
Debt Securities, Available-for-sale | $ 18,504 |
Note 2 - Fair Value of Financ_7
Note 2 - Fair Value of Financial Instruments - Summary of Derivative Financial Instruments (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Foreign currency forward contracts | $ 3,481 | $ 538 |
Foreign currency forward contracts | (1,064) | (3,877) |
Designated as Hedging Instrument [Member] | ||
Foreign currency forward contracts | 1,538 | 511 |
Foreign currency forward contracts | (213) | (2,200) |
Not Designated as Hedging Instrument [Member] | ||
Foreign currency forward contracts | 1,943 | 27 |
Foreign currency forward contracts | $ (851) | $ (1,677) |
Note 2 - Fair Value of Financ_8
Note 2 - Fair Value of Financial Instruments - Amounts Recognized In Statement Of Operations (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Net gains (losses) from non-designated forward contracts | $ 748 | $ (688) | $ 1,792 | $ (108) |
Other foreign currency transactions gains (losses) | (1,132) | 961 | (2,360) | 565 |
Total foreign exchange gains (losses), net | (384) | 273 | (568) | 457 |
Other expenses | (67) | (64) | (207) | (189) |
Other income (expense), net | $ (451) | $ 209 | $ (775) | $ 268 |
Note 3 - Accumulated Other Co_3
Note 3 - Accumulated Other Comprehensive Income (Loss) - Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||||||
Sep. 30, 2021 | Jun. 30, 2021 | Mar. 31, 2021 | Sep. 30, 2020 | Jun. 30, 2020 | Mar. 31, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Balance | $ 392,995 | $ 397,108 | $ 404,482 | $ 407,774 | $ 386,730 | $ 386,803 | $ 404,482 | $ 386,803 |
Other comprehensive income (loss), net of tax | 1,093 | (385) | 604 | (1,360) | 882 | 391 | 1,312 | (87) |
Balance | 402,986 | 392,995 | 397,108 | 400,299 | 407,774 | 386,730 | 402,986 | 400,299 |
AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-sale, Parent [Member] | ||||||||
Balance | 633 | 835 | 1,224 | 2,166 | 1,088 | 822 | 1,224 | 822 |
Change in unrealized gains (losses) during the period | (257) | (273) | (501) | (802) | 1,417 | 455 | ||
Net losses reclassified into income during the period | 5 | 8 | 8 | 140 | (20) | (110) | ||
Income tax benefit (provision) | 60 | 63 | 104 | 151 | (319) | (79) | ||
Other comprehensive income (loss), net of tax | (192) | (202) | (389) | (511) | 1,078 | 266 | ||
Balance | 441 | 633 | 835 | 1,655 | 2,166 | 1,088 | 441 | 1,655 |
Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent [Member] | ||||||||
Balance | (898) | (715) | (1,708) | 269 | 465 | 340 | (1,708) | 340 |
Change in unrealized gains (losses) during the period | 1,367 | (394) | 1,092 | (931) | (117) | 386 | ||
Net losses reclassified into income during the period | 318 | 152 | 192 | (170) | (137) | (224) | ||
Income tax benefit (provision) | (400) | 59 | (291) | 252 | 58 | (37) | ||
Other comprehensive income (loss), net of tax | 1,285 | (183) | 993 | (849) | (196) | 125 | ||
Balance | 387 | (898) | (715) | (580) | 269 | 465 | 387 | (580) |
AOCI Attributable to Parent [Member] | ||||||||
Balance | (265) | 120 | (484) | 2,435 | 1,553 | 1,162 | (484) | 1,162 |
Change in unrealized gains (losses) during the period | 1,110 | (667) | 591 | (1,733) | 1,300 | 841 | ||
Net losses reclassified into income during the period | 323 | 160 | 200 | (30) | (157) | (334) | ||
Income tax benefit (provision) | (340) | 122 | (187) | 403 | (261) | (116) | ||
Other comprehensive income (loss), net of tax | 1,093 | (385) | 604 | (1,360) | 882 | 391 | ||
Balance | $ 828 | $ (265) | $ 120 | $ 1,075 | $ 2,435 | $ 1,553 | $ 828 | $ 1,075 |
Note 3 - Accumulated Other Co_4
Note 3 - Accumulated Other Comprehensive Income (Loss) - Amounts Reclassified from AOCI (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Other income (expense), net | $ 451 | $ (209) | $ 775 | $ (268) |
Revenues | 104,934 | 93,069 | 301,392 | 268,162 |
Cost of revenues | 22,479 | 20,619 | 65,711 | 58,005 |
Research and development | 21,336 | 17,864 | 58,890 | 53,905 |
Sales and marketing | 18,569 | 16,060 | 54,328 | 50,073 |
General and administrative | 10,573 | 12,223 | 63,829 | 33,937 |
Reclassification out of Accumulated Other Comprehensive Income [Member] | AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-sale, Parent [Member] | ||||
Other income (expense), net | (5) | (140) | (21) | (10) |
Reclassification out of Accumulated Other Comprehensive Income [Member] | Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent [Member] | ||||
Revenues | (570) | 298 | (1,243) | 874 |
Cost of revenues | 51 | (25) | 117 | (66) |
Research and development | 170 | (86) | 391 | (229) |
Sales and marketing | 9 | (6) | 22 | (17) |
General and administrative | 22 | (11) | 51 | (31) |
Total | $ (318) | $ 170 | $ (662) | $ 531 |
Note 4 - Property and Equipme_3
Note 4 - Property and Equipment, Net (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2020 | |
Property, Plant and Equipment, Net, Ending Balance | $ 63,257 | $ 63,257 | $ 64,850 | ||
Depreciation, Depletion And Amortization, Excluding Intangible Asset Amortization | 7,000 | $ 6,700 | 21,200 | $ 19,300 | |
Scanner Appliances and Other Computer Equipment Subject To Subscription [Member] | |||||
Property, Plant and Equipment, Net, Ending Balance | 5,700 | 5,700 | 7,500 | ||
Scanner Appliances and Other Computer Equipment Not Placed In Service [Member] | |||||
Property, Plant and Equipment, Net, Ending Balance | $ 1,100 | $ 1,100 | $ 1,900 |
Note 4 - Property and Equipme_4
Note 4 - Property and Equipment, Net - Property and Equipment, Net (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Property and equipment and finance lease | $ 226,250 | $ 210,408 |
Less: accumulated depreciation and amortization | (162,993) | (145,558) |
Property and equipment and finance lease, net | 63,257 | 64,850 |
Computer Equipment [Member] | ||
Property and equipment and finance lease | 156,042 | 136,286 |
Computer Software, Intangible Asset [Member] | ||
Property and equipment and finance lease | 25,806 | 26,164 |
Leasehold Improvements [Member] | ||
Property and equipment and finance lease | 21,092 | 21,107 |
Scanner Appliances [Member] | ||
Property and equipment and finance lease | 16,855 | 16,749 |
Furniture and Fixtures [Member] | ||
Property and equipment and finance lease | 6,455 | 6,599 |
Assets Held under Capital Leases [Member] | ||
Property and equipment and finance lease | $ 0 | $ 3,503 |
Note 5 - Revenue from Contrac_3
Note 5 - Revenue from Contracts with Customers (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Contract with Customer, Liability, Revenue Recognized | $ 42,100 | $ 38,300 | $ 189,100 | $ 168,000 |
Amortization of Deferred Sales Commissions | 1,000 | 800 | 2,800 | 2,200 |
Capitalized Contract Cost, Impairment Loss | $ 0 | $ 0 | $ 0 | $ 0 |
Note 5 - Revenue from Contrac_4
Note 5 - Revenue from Contracts with Customers - Expected Revenue from All Remaining Performance Obligations (Details) $ in Thousands | Sep. 30, 2021USD ($) |
Remaining performance obligations | $ 248,488 |
Note 5 - Revenue from Contrac_5
Note 5 - Revenue from Contracts with Customers - Expected Revenue from All Remaining Performance Obligations 2 (Details) $ in Thousands | Sep. 30, 2021USD ($) |
Remaining performance obligations | $ 248,488 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-10-01 | |
Remaining performance obligations, period (Year) | 3 months |
Remaining performance obligations | $ 35,458 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01 | |
Remaining performance obligations, period (Year) | 1 year |
Remaining performance obligations | $ 116,982 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01 | |
Remaining performance obligations, period (Year) | 1 year |
Remaining performance obligations | $ 76,774 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01 | |
Remaining performance obligations, period (Year) | 1 year |
Remaining performance obligations | $ 16,870 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01 | |
Remaining performance obligations, period (Year) | 1 year |
Remaining performance obligations | $ 2,055 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01 | |
Remaining performance obligations, period (Year) | 1 year |
Remaining performance obligations | $ 348 |
Note 5 - Revenue from Contrac_6
Note 5 - Revenue from Contracts with Customers - Revenue by Sales Channel (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Revenues | $ 104,934 | $ 93,069 | $ 301,392 | $ 268,162 |
Sales Channel, Directly to Consumer [Member] | ||||
Revenues | 61,554 | 54,821 | 178,288 | 156,631 |
Sales Channel, Through Intermediary [Member] | ||||
Revenues | $ 43,380 | $ 38,248 | $ 123,104 | $ 111,531 |
Note 5 - Revenue from Contrac_7
Note 5 - Revenue from Contracts with Customers - Capitalized Cost to Obtain Contracts, Current and Noncurrent (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Current | $ 3,906 | $ 3,459 |
Noncurrent | $ 7,296 | $ 6,906 |
Note 6 - Intangible Assets, N_3
Note 6 - Intangible Assets, Net (Details Textual) - USD ($) $ in Millions | Aug. 19, 2021 | Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Aug. 19, 2022 | Dec. 31, 2020 |
Amortization of Intangible Assets, Total | $ 1.7 | $ 1.6 | $ 5 | $ 4.6 | |||
Developed Technology Rights [Member] | |||||||
Finite-lived Intangible Assets Acquired | $ 1.2 | ||||||
Payments to Acquire Intangible Assets | $ 1.1 | ||||||
Finite-Lived Intangible Asset, Useful Life (Year) | 5 years | 4 years 6 months | 4 years 4 months 24 days | ||||
Developed Technology Rights [Member] | Forecast [Member] | |||||||
Payments to Acquire Intangible Assets | $ 0.1 |
Note 6 - Intangible Assets, N_4
Note 6 - Intangible Assets, Net - Carrying Value of Intangible Assets (Details) - USD ($) $ in Thousands | Aug. 19, 2021 | Sep. 30, 2021 | Dec. 31, 2020 |
Cost | $ 30,443 | $ 29,243 | |
Amortization of intangible assets | (22,233) | (17,277) | |
Net Book Value | 8,210 | 11,966 | |
Intangible assets, net | 8,250 | 12,006 | |
Intangible Assets Not Subject to Amortization [Member] | |||
Intangible assets not subject to amortization | $ 40 | $ 40 | |
Developed Technology Rights [Member] | |||
Weighted Average Life (Year) | 5 years | 4 years 6 months | 4 years 4 months 24 days |
Weighted Average Remaining Life (Year) | 1 year 2 months 12 days | 1 year 9 months 18 days | |
Cost | $ 28,556 | $ 27,356 | |
Amortization of intangible assets | (20,845) | (16,152) | |
Net Book Value | $ 7,711 | $ 11,204 | |
Patents [Member] | |||
Weighted Average Life (Year) | 14 years | 14 years | |
Weighted Average Remaining Life (Year) | 2 years 10 months 24 days | 3 years 8 months 12 days | |
Cost | $ 1,387 | $ 1,387 | |
Amortization of intangible assets | (1,096) | (1,021) | |
Net Book Value | $ 291 | $ 366 | |
Noncompete Agreements [Member] | |||
Weighted Average Life (Year) | 2 years | 2 years | |
Weighted Average Remaining Life (Year) | 9 months 18 days | 1 year 7 months 6 days | |
Cost | $ 500 | $ 500 | |
Amortization of intangible assets | (292) | (104) | |
Net Book Value | $ 208 | $ 396 |
Note 6 - Intangible Assets, N_5
Note 6 - Intangible Assets, Net - Expected Amortization Expense in Future Periods (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
2021 (remaining three months) | $ 1,705 | |
2022 | 5,063 | |
2023 | 590 | |
2024 | 452 | |
2025 | 240 | |
2026 | 160 | |
Total expected future amortization expense | $ 8,210 | $ 11,966 |
Note 7 - Leases (Details Textua
Note 7 - Leases (Details Textual) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Operating Lease, Expense | $ 4.2 | $ 4.6 | $ 12.5 | $ 13.5 |
Note 7 - Leases - Supplemental
Note 7 - Leases - Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2021 | Sep. 30, 2020 | |
Cash payments included in the measurement of lease liabilities | $ 10,776 | $ 9,183 |
Lease liabilities arising from obtaining right-of-use assets | $ 1,739 | $ 15,735 |
Note 7 - Leases - Weighted Aver
Note 7 - Leases - Weighted Average Remaining Lease Term and Weighted Average Discount Rate (Details) | Sep. 30, 2021 | Dec. 31, 2020 |
Weighted average remaining lease term (Year) | 3 years 4 months 24 days | 4 years 1 month 6 days |
Weighted average discount rate | 4.90% | 4.80% |
Note 9 - Stockholders' Equity_3
Note 9 - Stockholders' Equity and Stock-based Compensation (Details Textual) - USD ($) $ in Millions | Nov. 03, 2021 | Jun. 09, 2021 | Apr. 27, 2021 | Mar. 19, 2021 | Feb. 10, 2021 | May 07, 2020 | Oct. 30, 2019 | Oct. 30, 2018 | Feb. 05, 2018 | Feb. 28, 2021 | Feb. 29, 2020 | Sep. 30, 2021 |
Share-based Payment Arrangement, Accelerated Cost | $ 27.3 | |||||||||||
Stock Repurchase Program, Authorized Amount | $ 500 | $ 100 | $ 106.9 | |||||||||
Stock Repurchase Program, Period in Force (Year) | 2 years | |||||||||||
Stock Repurchase Program, Additional Authorized Amount | $ 100 | $ 100 | $ 100 | $ 100 | ||||||||
Stock Repurchased and Retired During Period, Shares (in shares) | 875,000 | |||||||||||
Stock Repurchased and Retired During Period, Value | $ 94.9 | |||||||||||
Subsequent Event [Member] | ||||||||||||
Stock Repurchase Program, Authorized Amount | $ 700 | |||||||||||
Stock Repurchase Program, Additional Authorized Amount | $ 200 | |||||||||||
Share-based Payment Arrangement, Option [Member] | ||||||||||||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | $ 15.9 | |||||||||||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 2 years 9 months 18 days | |||||||||||
Share-based Payment Arrangement, Option [Member] | Performance Shares [Member] | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Accelerated Vesting, Number (in shares) | 348,000 | |||||||||||
Restricted Stock Units (RSUs) [Member] | ||||||||||||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | $ 52.5 | |||||||||||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 2 years 8 months 12 days | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 289,000 | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period (in shares) | 463,000 | |||||||||||
Restricted Stock Units (RSUs) [Member] | Time based Shared Based Compensation [Member] | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Accelerated Vesting, Number (in shares) | 127,000 | |||||||||||
Restricted Stock Units (RSUs) [Member] | Performance Shares [Member] | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Accelerated Vesting, Number (in shares) | 44,000 | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period (in shares) | 22,000 | 15,000 | ||||||||||
Share-Based Compensation Arrangement By Share-Based Payment Award, Equity Instruments Other than Options, Vested in Period As A Percentage Of Target | 200.00% | 135.00% | ||||||||||
ESPP Shares [Member] | ||||||||||||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | $ 0.5 | |||||||||||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 4 months 24 days | |||||||||||
Performance-based Restricted Stock Units [Member] | President and Chief Executive Officer [Member] | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 9,671 | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 3 years | |||||||||||
Share-based Compensation Termination Period Trigger (Month) | 12 months | |||||||||||
Share-Based Compensation, Percentage Of Shares That Will Vest Upon Trigger | 100.00% | |||||||||||
Maximum [Member] | Performance-based Restricted Stock Units [Member] | President and Chief Executive Officer [Member] | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Target Percentage | 200.00% | |||||||||||
Minimum [Member] | Performance-based Restricted Stock Units [Member] | President and Chief Executive Officer [Member] | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Target Percentage | 0.00% | |||||||||||
The 2012 Equity Incentive Plan [Member] | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Additional Shares Authorized (in shares) | 1,963,000 | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in shares) | 8,418,000 | |||||||||||
The 2012 Equity Incentive Plan [Member] | Maximum [Member] | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares) | 17,662,000 | |||||||||||
The 2000 Equity Incentive Plan [Member] | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in shares) | 0 | |||||||||||
The 2021 Employee Stock Purchase Plan [Member] | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares) | 600,000 | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Offering Period (Month) | 6 months | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Purchase Price of Common Stock, Percent | 85.00% | |||||||||||
The 2021 Employee Stock Purchase Plan [Member] | Maximum [Member] | ||||||||||||
Employee Stock Purchase Plan, Percentage of Eligible Compensation Contributable | 15.00% | |||||||||||
The 2021 Employee Stock Purchase Plan [Member] | Minimum [Member] | ||||||||||||
Employee Stock Purchase Plan, Percentage of Eligible Compensation Contributable | 1.00% |
Note 9 - Stockholders' Equity_4
Note 9 - Stockholders' Equity and Stock-based Compensation - Summary of Stock-based Compensation Expense (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Stock-based compensation | $ 9,463 | $ 10,489 | $ 56,218 | $ 29,930 |
Cost of Sales [Member] | ||||
Stock-based compensation | 986 | 770 | 2,702 | 1,967 |
Research and Development Expense [Member] | ||||
Stock-based compensation | 2,723 | 3,197 | 7,520 | 9,887 |
Selling and Marketing Expense [Member] | ||||
Stock-based compensation | 1,642 | 1,227 | 4,356 | 4,300 |
General and Administrative Expense [Member] | ||||
Stock-based compensation | $ 4,112 | $ 5,295 | $ 41,640 | $ 13,776 |
Note 9 - Stockholders' Equity_5
Note 9 - Stockholders' Equity and Stock-based Compensation - Share-based Compensation and Stock Options Activity (Details) $ / shares in Units, shares in Thousands, $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2021USD ($)$ / sharesshares | Dec. 31, 2020USD ($)$ / sharesshares | |
Balance (in shares) | shares | 2,215 | |
Weighted average exercise price, balance (in dollars per share) | $ / shares | $ 59.07 | |
Weighted Average Remaining Contractual Life Balance (Year) | 5 years 1 month 6 days | 6 years 6 months |
Aggregate intrinsic value | $ | $ 100,801 | $ 139,121 |
Granted (in shares) | shares | 362 | |
Weighted average exercise price, granted (in dollars per share) | $ / shares | $ 110.11 | |
Exercised (in shares) | shares | (243) | |
Weighted average exercise price, exercised (in dollars per share) | $ / shares | $ 45.03 | |
Canceled (in shares) | shares | (102) | |
Weighted average exercise price, canceled (in dollars per share) | $ / shares | $ 100.70 | |
Balance (in shares) | shares | 2,232 | 2,215 |
Weighted average exercise price, balance (in dollars per share) | $ / shares | $ 66.98 | $ 59.07 |
Vested and expected to vest (in shares) | shares | 2,061 | |
Vested and Expected to vest, weighted average exercise price (in dollars per share) | $ / shares | $ 63.77 | |
Vested and Expected to vest, weighted average remaining contractual life (Year) | 4 years 9 months 18 days | |
Vested and Expected to vest, aggregate intrinsic value | $ | $ 99,394 | |
Exercisable (in shares) | shares | 1,589 | |
Exercisable, Weighted average exercise price (in dollars per share) | $ / shares | $ 52.09 | |
Exercisable, weighted average remaining contractual life (Year) | 3 years 7 months 6 days | |
Exercisable, aggregate intrinsic value | $ | $ 94,325 |
Note 9 - Stockholders' Equity_6
Note 9 - Stockholders' Equity and Stock-based Compensation - Share-based Compensation, Restricted Stock and Restricted Stock Units (Details) shares in Thousands | 9 Months Ended |
Sep. 30, 2021$ / sharesshares | |
Cancelled, weighted average grant date fair value (in dollars per share) | $ / shares | $ 87.86 |
Expected to vest, number of shares (in shares) | shares | 612 |
Expected to vest, weighted average grant date fair value (in dollars per share) | $ / shares | $ 95.61 |
Restricted Stock Units (RSUs) [Member] | |
Balance, number of shares (in shares) | shares | 1,047 |
Balance, weighted average grant date fair value (in dollars per share) | $ / shares | $ 86.78 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | shares | 289 |
Granted, weighted average grant date fair value (in dollars per share) | $ / shares | $ 109.54 |
Vested, number of shares (in shares) | shares | (463) |
Vested, weighted average grant date fair value (in dollars per share) | $ / shares | $ 84.83 |
Cancelled, number of shares (in shares) | shares | (157) |
Balance, number of shares (in shares) | shares | 716 |
Balance, weighted average grant date fair value (in dollars per share) | $ / shares | $ 97 |
Note 10 - Net Income Per Shar_2
Note 10 - Net Income Per Share - Basic and Diluted Net Income Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 9 Months Ended | ||||||
Sep. 30, 2021 | Jun. 30, 2021 | Mar. 31, 2021 | Sep. 30, 2020 | Jun. 30, 2020 | Mar. 31, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Net income | $ 27,769 | $ 21,142 | $ 228 | $ 22,743 | $ 26,319 | $ 18,694 | $ 49,139 | $ 67,756 |
Basic weighted average shares (in shares) | 38,925 | 39,238 | 39,077 | 39,171 | ||||
Stock options (in shares) | 852 | 1,229 | 851 | 1,344 | ||||
Restricted stock units (in shares) | 161 | 297 | 219 | 328 | ||||
Diluted weighted average shares (in shares) | 39,938 | 40,764 | 40,147 | 40,843 | ||||
Basic (in dollars per share) | $ 0.71 | $ 0.58 | $ 1.26 | $ 1.73 | ||||
Diluted (in dollars per share) | $ 0.70 | $ 0.56 | $ 1.22 | $ 1.66 |
Note 10 - Net Income Per Shar_3
Note 10 - Net Income Per Share - Anti-dilutive Net Income Per Share (Details) - shares shares in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Antidilutive securities (in shares) | 594 | 536 | 612 | 546 |
Share-based Payment Arrangement, Option [Member] | ||||
Antidilutive securities (in shares) | 543 | 476 | 531 | 503 |
Restricted Stock Units (RSUs) [Member] | ||||
Antidilutive securities (in shares) | 50 | 60 | 81 | 43 |
Employee Stock Purchase Plan Shares [Member] | ||||
Antidilutive securities (in shares) | 1 | 0 | 0 | 0 |
Note 11 - Income Taxes (Details
Note 11 - Income Taxes (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2020 | |
Income Tax Expense (Benefit), Total | $ 4,282 | $ 4,891 | $ 10,554 | $ 9,189 | |
Effective Income Tax Rate Reconciliation, Percent, Total | 13.40% | 17.70% | 17.70% | 11.90% | |
Unrecognized Tax Benefits, Ending Balance | $ 9,600 | $ 9,600 | $ 8,900 | ||
Unrecognized Tax Benefits that Would Impact Effective Tax Rate | $ 4,900 | $ 4,900 | $ 4,600 |
Note 12 - Segment Information_3
Note 12 - Segment Information and Information About Geographic Area (Details Textual) | 9 Months Ended |
Sep. 30, 2021 | |
Number of Operating Segments | 1 |
Number of Reportable Segments | 1 |
Note 12 - Segment Information_4
Note 12 - Segment Information and Information About Geographic Area - Revenue and Property and Equipment, Net by Geographic Area (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2020 | |
Revenues | $ 104,934 | $ 93,069 | $ 301,392 | $ 268,162 | |
Property and equipment, net | 63,257 | 63,257 | $ 64,850 | ||
UNITED STATES | |||||
Revenues | 63,599 | 59,152 | 184,722 | 171,130 | |
Property and equipment, net | 43,994 | 43,994 | 43,791 | ||
INDIA | |||||
Property and equipment, net | 11,287 | 11,287 | 12,465 | ||
Non-US [Member] | |||||
Revenues | 41,335 | $ 33,917 | 116,670 | $ 97,032 | |
Other Geographic Areas [Member] | |||||
Property and equipment, net | $ 7,976 | $ 7,976 | $ 8,594 |