Document and Entity Information
Document and Entity Information - shares | 6 Months Ended | |
Jul. 31, 2015 | Sep. 30, 2015 | |
Document And Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Jul. 31, 2015 | |
Document Fiscal Year Focus | 2,016 | |
Document Fiscal Period Focus | Q2 | |
Trading Symbol | OOMA | |
Entity Registrant Name | Ooma Inc | |
Entity Central Index Key | 1,327,688 | |
Current Fiscal Year End Date | --01-31 | |
Entity Filer Category | Non-accelerated Filer | |
Entity Common Stock, Shares Outstanding | 16,732,591 |
CONDENSED CONSOLIDATED BALANCE
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands | Jul. 31, 2015 | Jan. 31, 2015 |
Current assets: | ||
Cash and cash equivalents | $ 59,173 | $ 9,133 |
Accounts receivable, net | 4,923 | 4,394 |
Inventories | 7,221 | 8,081 |
Deferred inventory costs | 1,690 | 2,248 |
Prepaid expenses and other current assets | 1,122 | 945 |
Total current assets | 74,129 | 24,801 |
Property and equipment, net | 3,159 | 2,893 |
Intangible assets, net | 1,081 | 1,278 |
Goodwill | 1,117 | 1,117 |
Other assets | 695 | 1,188 |
Total assets | 80,181 | 31,277 |
Current liabilities: | ||
Accounts payable | 7,320 | 3,967 |
Accrued expenses | 11,493 | 10,313 |
Short-term debt | 668 | 1,562 |
Convertible preferred stock warrant liability | 474 | |
Deferred revenue | 13,976 | 14,348 |
Total current liabilities | 33,457 | 30,664 |
Long-term debt | 292 | 10,398 |
Convertible preferred stock warrant liability - noncurrent | 743 | |
Other long-term liabilities | 252 | 980 |
Total liabilities | $ 34,001 | $ 42,785 |
Commitments and contingencies (Note 7) | ||
Stockholders’ equity (deficit): | ||
Preferred stock | ||
Common stock | $ 2 | |
Additional paid-in capital | 104,272 | $ 5,611 |
Accumulated deficit | (58,094) | (50,756) |
Total stockholders’ equity (deficit) | 46,180 | (45,145) |
Total liabilities, convertible preferred stock, and stockholders’ equity (deficit) | $ 80,181 | 31,277 |
Convertible Preferred Stock | ||
Stockholders’ equity (deficit): | ||
Preferred stock | $ 33,637 |
CONDENSED CONSOLIDATED BALANCE3
CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) (Unaudited) - $ / shares | Jul. 31, 2015 | Jan. 31, 2015 |
Preferred stock, par value | $ 0.0001 | $ 0.0001 |
Preferred stock, shares authorized | 10,000,000 | 0 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Common stock, par value | $ 0.0001 | $ 0.0001 |
Common stock, shares authorized | 100,000,000 | 13,000,000 |
Common stock, shares issued | 16,684,686 | 2,515,065 |
Common stock, shares outstanding | 16,684,686 | 2,515,065 |
Convertible Preferred Stock | ||
Preferred stock, par value | $ 0.0001 | $ 0.0001 |
Preferred stock, shares authorized | 0 | 8,708,333 |
Preferred stock, shares issued | 0 | 8,353,748 |
Preferred stock, shares outstanding | 0 | 8,353,748 |
CONDENSED CONSOLIDATED STATEMEN
CONDENSED CONSOLIDATED STATEMENTS OF OPERATION (Unaudited) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jul. 31, 2015 | Jul. 31, 2014 | Jul. 31, 2015 | Jul. 31, 2014 | |
Revenue: | ||||
Subscription and services | $ 17,449,000 | $ 12,702,000 | $ 33,025,000 | $ 23,588,000 |
Product and other | 3,687,000 | 3,999,000 | 7,963,000 | 9,412,000 |
Total revenue | 21,136,000 | 16,701,000 | 40,988,000 | 33,000,000 |
Cost of revenue: | ||||
Subscription and services | 6,310,000 | 4,405,000 | 11,934,000 | 8,222,000 |
Product and other | 3,583,000 | 3,770,000 | 7,790,000 | 8,545,000 |
Total cost of revenue | 9,893,000 | 8,175,000 | 19,724,000 | 16,767,000 |
Gross profit | 11,243,000 | 8,526,000 | 21,264,000 | 16,233,000 |
Operating expenses: | ||||
Sales and marketing | 6,813,000 | 5,830,000 | 12,708,000 | 9,560,000 |
Research and development | 4,284,000 | 2,930,000 | 8,381,000 | 5,231,000 |
General and administrative | 3,206,000 | 1,288,000 | 6,167,000 | 2,218,000 |
Total operating expenses | 14,303,000 | 10,048,000 | 27,256,000 | 17,009,000 |
Loss from operations | (3,060,000) | (1,522,000) | (5,992,000) | (776,000) |
Other (expense) income : | ||||
Interest expense, net | (607,000) | (51,000) | (892,000) | (104,000) |
Change in fair value of warrants | 274,000 | (31,000) | (442,000) | (215,000) |
Other (expense) income, net | (10,000) | 1,000 | (12,000) | (9,000) |
Loss before income taxes | (3,403,000) | (1,603,000) | (7,338,000) | (1,104,000) |
Income tax benefit | 0 | 502,000 | 0 | 502,000 |
Net loss | $ (3,403,000) | $ (1,101,000) | $ (7,338,000) | $ (602,000) |
Net loss per share of common stock: | ||||
Basic and diluted | $ (0.80) | $ (0.48) | $ (2.14) | $ (0.26) |
Weighted-average number of shares used in per share amounts: | ||||
Basic and diluted | 4,233,193 | 2,273,007 | 3,422,521 | 2,347,728 |
CONDENSED CONSOLIDATED STATEME5
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands | 6 Months Ended | |
Jul. 31, 2015 | Jul. 31, 2014 | |
Cash flows from operating activities: | ||
Net loss | $ (7,338) | $ (602) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Stock-based compensation expense | 1,289 | 95 |
Depreciation and amortization | 670 | 412 |
Amortization of intangible assets | 197 | 96 |
Deferred income taxes | (502) | |
Non-cash interest expense | 64 | 28 |
Write-off of non-cash deferred debt issuance costs | 332 | |
Change in fair value of acquisition related contingent consideration | 124 | 93 |
Change in fair value of warrant liability | 442 | 215 |
Changes in operating assets and liabilities: | ||
Accounts receivable, net | (529) | (2,217) |
Inventories | 860 | (2,734) |
Deferred inventory costs | 558 | (683) |
Prepaid expenses and other assets | (178) | 371 |
Accounts payable and accrued expenses | 3,293 | 2,568 |
Other long term liabilities | (62) | 47 |
Deferred revenue | (372) | 2,724 |
Net cash used in operating activities | (650) | (89) |
Cash flows from investing activities: | ||
Purchases of property and equipment | (866) | (462) |
Business acquisition, net of cash assumed | (672) | |
Net cash used in investing activities | (866) | (1,134) |
Cash flows from financing activities: | ||
Proceeds from initial public offering, net | 58,848 | |
Repayment of debt | (11,294) | (733) |
Payment of acquisition related earn-out | (475) | |
Proceeds from exercise of preferred and common stock warrants | 61 | 139 |
Payment of preferred warrant liability | (584) | |
Net cash provided by (used in) financing activities | 51,556 | (594) |
Net increase (decrease) in cash and cash equivalents | 50,040 | (1,817) |
Cash and cash equivalents at beginning of period | 9,133 | 6,364 |
Cash and cash equivalents at end of period | 59,173 | 4,547 |
Supplemental disclosure of cash flow information: | ||
Income taxes paid | 2 | 1 |
Interest paid | 439 | 109 |
Non-cash investing and financing activities: | ||
Conversion of preferred stock to common stock | 38,629 | |
Unpaid offering costs | 1,644 | |
De-recognition of warrant liability to additional paid-in capital | 1,075 | |
Shares issued as consideration in business acquisition and related earnout | 451 | 338 |
Unpaid portion of property and equipment purchases | 69 | $ 277 |
Series Beta Preferred Stock | ||
Cash flows from financing activities: | ||
Proceeds from Series Beta preferred stock, net | $ 5,000 |
Description of Business and Sum
Description of Business and Summary of Significant Accounting Policies | 6 Months Ended |
Jul. 31, 2015 | |
Accounting Policies [Abstract] | |
Description of Business and Summary of Significant Accounting Policies | 1. Description of Business and Summary of Significant Accounting Policies Description of Business Ooma, Inc. (the “Company”) is a leading provider of innovative communications solutions and other connected services to small business, home, and mobile users. The Company’s unique hybrid Software-as-a-Service (“SaaS”) platform, consisting of its proprietary cloud, on-premises appliances, mobile applications, and end-point devices, provides the connectivity and functionality that enables our solutions. The Company was incorporated in Delaware on November 19, 2003. |
Significant Accounting Policies
Significant Accounting Policies | 6 Months Ended |
Jul. 31, 2015 | |
Accounting Policies [Abstract] | |
Significant Accounting Policies | 2. Summary of Significant Accounting Policies Basis of Presentation These unaudited condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) and applicable rules and regulations of the Securities and Exchange Commission (the “SEC”) regarding interim financial reporting. Certain information and note disclosures normally included in the financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. Therefore, the information included in this Quarterly Report on Form 10-Q should be read in conjunction with the consolidated financial statements and accompanying notes included in the Company’s prospectus filed with the SEC pursuant to Rule 424(b) under the Securities Act of 1933, as amended, on July 17, 2015 (the “Prospectus”). There have been no changes to our significant accounting policies described in the prospectus that have had a material impact on our condensed consolidated financial statements and related notes. These financial statements have been prepared on the same basis as the Company’s annual financial statements and, in the opinion of management, reflect The condensed consolidated financial statements include our accounts and the accounts of our wholly-owned subsidiaries. All significant intercompany transactions and balances have been eliminated upon consolidation. Reverse Stock Split Effective July 6, 2015, the Company completed a one-for-two reverse stock split, as approved by its Board of Directors (the “Board”). All shares and warrants and per share and warrant amounts set forth herein give effect to this reverse stock split. Initial Public Offering and Conversion of Preferred Stock On July 22, 2015, the Company completed its initial public offering (the “IPO”). As a result, the following transactions were recorded in the Company’s consolidated financial statements as of July 31, 2015: · The Company issued 5,000,000 shares of its common stock at the initial public offering price of $13.00 per share. The net proceeds from the sale of the shares was $57.1 million after deducting the underwriters’ discounts and commissions of $4.5 million and $3.4 million of offering expenses. · 8,353,748 shares of Series Alpha convertible preferred stock and Series Alpha-1 convertible preferred stock were collectively converted into 8,353,748 shares of common stock on a 1:1 basis. The public offering price of $13.00 per share triggered an automatic conversion of 241,469 shares of Series Beta convertible preferred stock, which automatically converted to 525,109 shares of common stock based on an adjusted conversion price equal to 75% of the $13.00 public offering price, or $9.75, rather than the $21.2028 per share consideration paid, pursuant to the conversion price adjustment provision applicable to such shares in the Company’s then-current amended and restated certificate of incorporation. · The December 2010 warrant to purchase 70,287 shares of Series Alpha convertible preferred stock was cash settled at the IPO price of $13.00 per share after deducting the exercise price of $4.70 per share. The Company paid $0.6 million to the warrant holder on settlement. · Of the warrants to purchase 34,397 shares of Series Alpha convertible preferred stock issued in June 2009, warrants to purchase 2,769 shares of Series Alpha convertible preferred stock were cash exercised at an exercise price of $4.70 per share and resulted in 2,769 shares of common stock; warrants to purchase 21,529 shares of Series Alpha convertible preferred stock were net exercised using the IPO price of $13.00 per share net of the exercise price of $4.70 per share resulting in issuance of 13,752 shares of common stock; and warrants to purchase 10,099 shares of common stock were terminated due to failure to exercise on or before the IPO date per the terms of the warrant agreements. · On the completion of the IPO, the warrants to purchase 21,299 shares of Series Alpha convertible preferred stock issued in May 2009 and warrants to purchase 66,026 shares of Series Alpha convertible preferred stock issued in conjunction with the Company’s debt in April and December 2012 and October 2014 were converted on a 1:1 basis into warrants to purchase shares of common stock. · Of the warrants to purchase 87,828 shares of common stock outstanding prior to the IPO, 6,542 common warrants were cash exercised and converted to 6,542 shares of common stock and 4,100 common warrants were exercised net of the respective exercise price per warrant to 2,612 shares of common stock and 556 common warrants were terminated due to non-exercise on IPO per the terms of the warrant agreement. Use of Estimates The preparation of the Company’s condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amount of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of income and expenses during the reporting period. These estimates are based on information available as of the date of the condensed consolidated financial statements, and assumptions are inherently subjective in nature; therefore, actual results could differ from management’s estimates. Comprehensive Loss The Company does not have any components of comprehensive income (loss), as such the net loss for all periods reported equals comprehensive loss. Concentration of Risk — The concentration of accounts receivable, net of allowance of returns of $0 and $0.1 million as of July 31, 2015 and January 31, 2015, respectively are as follows: As of July 31, 2015 January 31, 2015 Customer A 16 % 11 % Customer B 14 % * Customer C * 23 % Customer D * 10 % * represents less than 10% during the period There were no customers that individually exceeded 10% of our revenue during the three and six months ended July 31, 2015 and 2014. Recent Accounting Pronouncements In May 2014, the FASB issued Accounting Standard Update (“ASU”) No. 2014-09 (ASC 606), Revenue from Contracts with Customers , which affects any entity that either enters into contracts with customers to transfer goods and services or enters into contracts for the transfer of nonfinancial assets. ASU 2014-09 will replace most existing revenue recognition guidance in GAAP when it becomes effective. The standard’s core principle is that a company will recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services. In doing so, companies will need to use more judgment and make more estimates than under the currently effective guidance. These may include identifying performance obligations in the contract, estimating the amount of variable consideration to include in the transaction price and allocating the transaction price to each separate performance obligation. Revenue from Contracts with Customers (ASC 606) Deferral of Effective Date . Early adoption is permitted but not before the original effective date of annual periods beginning after December 15, 2016. The Company is currently evaluating the impact of this guidance on its consolidated financial statements. In August 2014, the FASB issued ASU No. 2014-15 (ASC 205) , Disclosure of Uncertainties About an Entity’s Ability to Continue as a Going Concern In July 2015, the FASB issued ASU No. 2015-11 (ASC 330) , Simplifying the Measurement of Inventory Update No. 2015-11 requires companies to measure inventory using the lower of cost and net realizable value. It is effective for annual reporting periods beginning after December 15, 2016 and interim periods within those fiscal years. |
Fair Value Measurement
Fair Value Measurement | 6 Months Ended |
Jul. 31, 2015 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurement | 3. Fair Value Measurement The Company records its financial assets and liabilities at fair value. The inputs used in the valuation methodologies in measuring fair value are defined in the fair value hierarchy as follows: Level 1: Quoted prices (unadjusted) in active markets that are accessible at the measurement date for identical assets or liabilities. Level 2: Observable prices that are based on inputs not quoted on active markets, but corroborated by market data Level 3: Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities and which reflect management’s best estimate of what market participants would use in pricing the asset or liability at the measurement date. Consideration is given to the risk inherent in the valuation technique and the risk inherent in the inputs to the model. The Company’s financial instruments consist of Level 1 assets and Level 3 liabilities. Money market funds have been classified as Level 1 because these securities are valued based upon quoted prices in active markets. The money market funds are classified as cash equivalents. As of January 31, 2015, the Level 3 liabilities consists of the Company’s convertible preferred stock warrant liability and acquisition-related contingent consideration. As of July 31, 2015, the Level 3 liabilities consisted of acquisition-related contingent consideration. There were no transfers into or out of the Level 3 category during the six months ended July 31, 2015 and during the year ended January 31, 2015. The Company’s financial assets and liabilities that are measured at fair value on a recurring basis by level within the fair value hierarchy are as follows (in thousands): Balance as of July 31, 2015 Level 1 Level 2 Level 3 Total Assets: Cash $ 156 $ — $ — $ 156 Money market fund 59,017 — — 59,017 Total Cash and Cash Equivalents $ 59,173 $ — $ — $ 59,173 Liabilities: Acquisition-related contingent consideration $ — $ — $ 798 $ 798 Convertible preferred stock warrant liability — — — — Total liabilities $ — $ — $ 798 $ 798 Balance as of January 31, 2015 Level 1 Level 2 Level 3 Total Assets: Cash $ 115 $ — $ — $ 115 Money market fund 9,018 — — 9,018 Total Cash and Cash Equivalents $ 9,133 $ — $ — $ 9,133 Liabilities: Acquisition-related contingent consideration $ — $ — $ 1,695 $ 1,695 Convertible preferred stock warrant liability — — 1,217 1,217 Total liabilities $ — $ — $ 2,912 $ 2,912 Changes in the Level 3 fair value category for the periods presented are as follows (in thousands): Convertible Preferred Stock Warrant Liability Acquisition-Related Contingent Consideration Balance at January 31, 2015 $ 1,217 $ 1,695 Payout of consideration — (570 ) Issuance of shares — (451 ) Changes in fair value 442 124 Payment of preferred warrant liability upon IPO (584 ) — De-recognition of preferred warrant liability to additional paid-in capital (1,075 ) — Balance at July 31, 2015 $ — $ 798 Level 3 instruments consisted of the Company’s preferred stock warrant liability. Prior to the Company’s IPO, outstanding warrants to purchase shares of the Company’s convertible preferred stock were classified as other liabilities. At every reporting date the warrants were remeasured and the change in the fair value was recorded as a component of other (expense) income, net, in the condensed consolidated statement of operations and liabilities on the balance sheet. Upon the closing of the Company’s IPO, warrant to purchase 70,287 shares of Series Alpha convertible preferred stock was remeasured at the initial offering price of $13.00 per share less the exercise price of $4.70 per share. The total warrant liability of $0.6 million related to this warrant was cash settled. The aggregate fair value of the other warrants was de-recognized and reclassified from liabilities to additional paid-in capital, a component of stockholders’ equity (deficit), and the Company ceased recording any further changes. The carrying value of the Company’s accounts receivable, inventory and other current assets and current liabilities approximates fair value due to short maturities. |
Balance Sheet Components
Balance Sheet Components | 6 Months Ended |
Jul. 31, 2015 | |
Balance Sheet Components [Abstract] | |
Balance Sheet Components | 4. Balance Sheet Components Inventories The following table shows the components of inventories (in thousands): July 31, January 31, 2015 2015 Finished goods $ 5,972 $ 5,719 Raw material 1,249 2,362 Total inventory $ 7,221 $ 8,081 Deferred Revenue The following table shows the components of deferred revenue (in thousands): July 31, January 31, 2015 2015 Deferred revenue: Subscription and services $ 11,128 $ 9,863 Product and other 2,884 4,523 Total deferred revenue 14,012 14,386 Less: current portion of deferred revenue 13,976 14,348 Deferred revenue, noncurrent portion included in other long-term liabilities $ 36 $ 38 Accrued Expenses The following table shows the components of accrued expenses (in thousands): July 31, January 31, 2015 2015 Accrued regulatory fees and taxes $ 4,946 $ 4,762 Accrued payroll and related expenses 2,410 2,022 Acquisition-related contingent consideration-current portion 797 1,027 Other accrued expenses 3,340 2,502 Total accrued expenses $ 11,493 $ 10,313 |
Debt
Debt | 6 Months Ended |
Jul. 31, 2015 | |
Debt Disclosure [Abstract] | |
Debt | 5. Debt In April 2012, (amended in October 2012), the Company entered into a secured debt agreement (“Term Debt”) in the amount of $4.0 million. The debt had a maturity date in September 2015 and a fixed interest rate of 5.75%. The Company made monthly interest-only payments through September 2012, and monthly payments of principal and interest thereafter. In July 2015, the Company paid off the remaining balance of $0.3 million using a portion of the IPO proceeds. In December 2012, the Company entered into an amended secured debt agreement, adding a revolving line of credit in the amount of $6.0 million (“the Revolver”). The interest rate on the Revolver is 2.75% above the prime rate (6.0% at January 31, 2015). The Revolver includes a financial covenant that the Company is required to have a certain number of subscribers each quarter. The Revolver was originally due to mature in December 2014. In July 2014, the Company entered into an amended agreement to extend the maturity date until July 2016. In October 2014, the Company borrowed $5.0 million under the Revolver. The outstanding debt of $5.0 million was repaid in July 2015 using a portion of the IPO proceeds. In January 2015, the Company entered into an amended line of credit under a loan and security agreement with its current lender which increased the amount available under the Revolver to $12.0 million and added a new line of credit of up to $10.0 million. The Company’s credit agreements with its lender contain customary negative covenants that limit the ability to, among other things, incur additional indebtedness, grant liens, make investments, repurchase stock, pay dividends, transfer assets and merge or consolidate. In January 2015, the Company drew down $5.0 million of this new line of credit. The interest rate on advances under the line of credit is 11%, and interest is payable monthly. The original maturity date of the line of credit was January 2018. The Company repaid this outstanding debt of $5.0 million in July 2015 using a portion of the IPO proceeds. In connection with the agreement, the Company issued warrants to purchase 76,630 shares of the Company’s common stock with an exercise price of $6.04 per share that are exercisable until January 2025. These warrants remained outstanding as of July 31, 2015. The Company has certain non-financial covenants in connection with the borrowings. As of January 31, 2015 and July 31, 2015, the Company was in compliance with all the covenants under the Revolver agreement. As of July 31, 2015, the amount available under the Revolver agreement was $12.0 million. Total interest expense recognized was $0.6 million and $0.1 million for the three months ended July 31, 2015 and 2014, respectively, and $0.9 million and $0.1 million for the six months ended July 31, 2015 and 2014, respectively. Total amortization of debt issuance costs recognized was $20,000 and $13,000 for the three months ended July 31, 2015 and 2014, respectively and $64,000 and $28,000 for the six months ended July 31, 2015 and 2014, respectively. Interest expense for the three and six months ended July 31, 2015 also included $0.3 million write-off of non-cash deferred issuance costs due to the repayment by the Company of all of the outstanding debt in July 2015. As of July 31, 2015, the debt on the consolidated balance sheet related to equipment acquired under capital lease. |
Convertible Preferred Stock War
Convertible Preferred Stock Warrant Liability | 6 Months Ended |
Jul. 31, 2015 | |
Equity [Abstract] | |
Convertible Preferred Stock Warrant Liability | 6. Convertible Preferred Stock Warrant Liability At each balance sheet date, the Company had the following warrants to purchase convertible preferred stock outstanding: Fair value Fair value Fair value Warrants of Warrants Warrants of Warrants Warrants of Warrants outstanding Liabilities as of outstanding Liabilities as of outstanding Liabilities as of as of January 31, 2015 as of April 30, 2015 as of July 31, 2015 January (in thousands) April 30, 2015 (in thousands) July 31,2015 (in thousands) December 2010 warrant 70,287 $ 474 70,287 $ 726 — $ — April 2012, December 2012 and October 2014 warrants 66,026 374 66,026 611 — — May and June 2009 warrants 55,696 369 55,696 596 — — Total 192,009 $ 1,217 192,009 $ 1,933 — $ — In December 2010, the Company issued a warrant to purchase 70,287 shares of Series Alpha convertible preferred stock at an exercise price of $4.70 per share. On completion of the IPO, the Company remeasured the warrant at the IPO price of $13.00 per share, after deducting the exercise price the fair value of the warrant was determined to be $0.6 million. The warrant was cash settled and the Company paid $0.6 million to the warrant holder upon the IPO. The warrant was initially measured at its fair value and recorded as a derivative liability. On each reporting date the change in fair value of the warrant was determined based on Monte-Carlo valuation model or IPO pricing on payout. The Company recorded a remeasurement gain (loss) of $0.1 million and $(17,000) during the three months ended July 31, 2015 and 2014, respectively; and $(0.1) million and $(0.1) million during the six months ended July 31, 2015 and July 31, 2014, respectively. In April 2012, December 2012 and October 2014, the Company issued warrants to purchase an aggregate of 66,026 shares of Series Alpha convertible preferred stock with an exercise price of $4.70 per share in connection with a debt agreement with a lender. The warrants had expiration dates ranging from April 2022 to December 2022. The Company recorded the warrants as derivative liability. The warrants were initially measured at fair value and remeasured at every reporting period date using Monte-Carlo valuation. The Company recorded a remeasurement gain (loss) of $(0.1) million and $(9,000) for the three months ended July 31, 2015 and 2014 respectively, and $(0.3) million and $(0.1) million for the six months ended July 31, 2015 and 2014, respectively. Upon completion of the IPO on July 22, 2015, the total aggregate liability of $0.7 million related to these warrants was derecognized and reclassified to additional paid in capital which then automatically converted into warrants to purchase shares of common stock on a 1:1 basis. In June 2009, the Company issued warrants to purchase 34,397 shares of Series Alpha convertible preferred stock and in May 2009, the Company issued warrants to purchase 21,299 shares of convertible preferred stock. The Company recorded the warrants to purchase shares of convertible preferred stock as derivative liabilities. These warrants were initially measured at fair value and remeasured at every reporting period date using a Black Scholes valuation model and the change in the fair value was recorded in other (expense) income in the condensed consolidated statement of operations. The Company recorded a remeasurement gain (loss) of $0.1 million and $(5,000) for the three months ended July 31, 2015 and 2014, respectively, and $(0.1) million and $(48,000) for the six months ended July 31, 2015 and 2014, respectively. Upon completion of the IPO on July 22, 2015, of the warrants to purchase 34,397 shares of Series Alpha convertible preferred stock issued in June 2009, warrants to purchase 2,769 shares of Series Alpha convertible preferred were cash exercised at an exercise price of $4.70 per share to 2,769 shares of common stock; warrants to purchase 21,529 shares of Series Alpha convertible preferred stock were net exercised using the IPO price of $13.00 per share net of the exercise price of $4.70 per share to 13,752 shares of common stock; and warrants to purchase 10,099 shares were terminated due to failure to exercise on or before the IPO per the terms of the warrant agreement. The Company recognized a gain of $0.1 million on the termination of 10,099 warrants. The IPO also triggered the 21,299 warrants issued in May 2009, to convert to common warrants to purchase 21,299 shares of common stock. The total aggregate liability of $0.4 million related to these warrants was derecognized and reclassified to additional paid in capital. The following assumptions were used to calculate the fair value of the warrants: Three Months Ended July 31, Six Months Ended July 31, 2015 2014 2015 2014 Assumptions: Expected volatility 66% 70% 66%-70% 70% Expected term (in years) 0-1.0 1.8-1.9 0-1.1 1.8-2.1 Risk-free interest rate 0%-0.3% 0.5% 0%-0.3% 0.5% Dividend yield — % — % — % — % |
Commitments and Contingencies
Commitments and Contingencies | 6 Months Ended |
Jul. 31, 2015 | |
Commitments And Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | 7. Commitments and Contingencies The Company leases office space in Palo Alto and Newark, California under operating leases that are scheduled to expire through February 2018. In January 2015, the Company entered into a capital lease for computer equipment that matures in December 2016 with the right to purchase the equipment at maturity for one dollar. Minimum rental commitments under all non-cancelable leases with an initial term in excess of one year as of July 31, 2015, were as follows (in thousands): Capital Operating Year Ending July 31, Leases Leases 2016 (remaining six months) $ 357 $ 775 2017 653 1,589 2018 — 1,202 2019 — 27 Total $ 1,010 $ 3,593 Less: Amount representing interest (50 ) Present value of lease payments 960 Less: Current portion (668 ) Capital lease—net of current portion $ 292 Rent expense was $0.3 million and $0.2 million for the three months ended July 31, 2015 and 2014, respectively, and $0.6 million and $0.4 for the six months ended July 31, 2015 and 2014, respectively. As of July 31, 2015, non-cancelable purchase commitments were $1.9 million. Legal Matters —The Company is party to actions and proceedings incident to the Company’s business in the ordinary course of business, including litigation regarding its intellectual property, challenges to the enforceability or validity of its intellectual property, and claims that the Company’s products or services infringe on the intellectual property rights of others. The Company accrues a liability for such matters when it is probable that future expenditures will be made and such expenditures can be reasonably estimated. In management’s opinion, there are no contingent liabilities requiring accrual or disclosure as of July 31, 2015. Indemnification —The Company enters into standard indemnification arrangements in the ordinary course of business. Pursuant to these arrangements, the Company indemnifies, holds harmless, and agrees to reimburse the indemnified parties for losses suffered or incurred by the indemnified party, in connection with any trade secret, copyright, patent or other intellectual property infringement claim by any third party with respect to the Company’s technology. The term of these indemnification agreements is generally perpetual. The maximum potential amount of future payments the Company could be required to make under these agreements is not determinable because it involves claims that may be made against the Company in the future, but have not yet been made. The Company has entered into indemnification agreements with its directors and officers that may require the Company to indemnify its directors and officers against liabilities that may arise by reason of their status or service as directors or officers, other than liabilities arising from willful misconduct of the individual. The maximum potential amount of future payments the Company could be required to make under these indemnification agreements is unlimited; however, the Company has director and officer insurance coverage that reduces the Company’s exposure and enables the Company to recover a portion of any future amounts paid. To date the Company has not incurred costs to defend lawsuits or settle claims related to these indemnification agreements. No liability associated with such indemnifications has been recorded to date. |
Stockholders' Equity
Stockholders' Equity | 6 Months Ended |
Jul. 31, 2015 | |
Equity [Abstract] | |
Stockholders' Equity | 8. Stockholders’ Equity Reverse Stock Split On July 6, 2015, the Company effected a one-for-two reverse stock split of its outstanding common stock, convertible preferred stock, stock options, warrants to purchase preferred stock and warrants to purchase common stock as approved by its Board of Directors. All information in this Quarterly Report on Form 10-Q relating to the number of shares, price per share and per share amounts have been adjusted to give effect to the one-for-two reverse stock split. Convertible Preferred Stock Upon the closing of the IPO on July 22, 2015, all of the Company's outstanding Series Alpha and Series Alpha-1 convertible preferred stock converted into 8,353,748 shares of common stock on a 1:1 basis and 241,469 shares of Series Beta preferred stock converted into 525,109 shares of common stock. Common Stock and Preferred Stock On July 6, 2015, the Company filed an amended and restated certificate of incorporation to increase the amount of common stock authorized for issuance to 100,000,000 shares with a par value of $0.0001 per share and 10,000,000 shares with a $0.0001 par value per share of preferred stock. As of July 31, 2015 the Company had 16,684,686 shares of common stock outstanding which includes the 5,000,000 shares issued in the IPO. The Company did not have any shares of preferred stock issued and outstanding. Equity Award Plans 2005 Stock Plan The Board of Directors adopted, and the stockholders approved, the Company’s 2005 Stock Plan (the “2005 Plan”) Plan was amended and restated in the form of the 2015 Equity Incentive Plan described below. The terms of the 2005 Plan as described in the Prospectus will continue to govern the terms and conditions of the outstanding awards previously granted thereunder. 2015 Equity Incentive Plan In June 2015, the Company amended and restated its 2005 Plan in the form of 2015 Equity Incentive Plan (the “2015 Plan”) which became effective immediately upon the effectiveness of the Company’s IPO. T he 2015 Plan provides for the grant of incentive stock options to its employees and any of its subsidiary corporations’ employees, and for the grant of non-statutory stock options, stock appreciation rights, restricted stock, restricted stock units, performance units and performance shares to its employees, directors and consultants and its subsidiary corporations’ employees and consultants. 5% of the outstanding shares of its common stock as of the last day of its immediately preceding fiscal year; and (ii) such other amount as the Company’s board of directors may determine. As of July 31, 2015, the Company had 2,181,156 shares available for future issuance. Employee Stock Purchase Plan In conjunction with the completion of its IPO, the Company adopted the 2015 Employee Stock Purchase Plan (“ESPP”). The ESPP has 441,165 shares authorized for future issuance. The number of authorized shares under the ESPP is subject to increase on an annual basis. The ESPP allows eligible employees to purchase shares of common stock at a discount through payroll deductions of up to 15% of their eligible compensation subject to plan limitations. The ESPP provides for a 24-month offering period comprised of four purchase periods of approximately six months. Employees are able to purchase shares at 85% of the lower of the fair market value of the Company’s common stock (i) at the date of commencement of the offering period or (ii) at the last day of the purchase period. The offering periods are scheduled to start on the first trading day on or after March 15 and September 15 of each year, except for the first offering period, which commenced on the first trading day upon the completion of the Company’s IPO, or July 17, 2015, and ends on September 15, 2017. In the three and six months ended July 31, 2015, the Company recorded stock-based compensation expense of $18,000 related to the ESPP. No shares have been purchased by employees under the ESPP during the three and six months ended July 31, 2015. Stock Options Options to purchase shares of common stock may be granted to employees, directors, and consultants. These options vest from date of grant to up to five years and expire 10 years from the date of grant. Options may be exercised anytime during their term in accordance with the vesting/exercise schedule specified in the recipient’s stock option agreement and in accordance with the plan provisions. Shares issued upon exercise prior to vesting, are subject to a right of repurchase, which lapses according to the original option vesting schedule. Summary of option activity under the Company’s 2005 Plan and 2015 Plan for the six months is set forth below: Options Outstanding Number of Weighted Shares Weighted Average Aggregate Underlying Average Remaining Intrinsic Outstanding Exercise Contractual Term Value Options Price (Years) (in thousands) Balance, January 31, 2015 1,893,239 $ 3.85 8.40 $ 10,109 Options granted 355,448 13.17 Options exercised (48,758 ) 0.38 Options canceled (14,911 ) 4.38 Balance, July 31, 2015 2,185,018 5.44 8.26 $ 16,899 Vested and exercisable, July 31, 2015 596,737 $ 0.63 5.23 $ 7,193 Vested and expected to vest, July 31, 2015 1,989,485 $ 4.19 8.18 $ 15,470 Aggregate intrinsic value represents the difference between the exercise price of the options to purchase common stock and the fair market value of the Company’s common stock. The aggregate intrinsic value of options exercised for the three months ended July 31, 2015 and 2014 was $0.5 million and $0.3 million, respectively, and $0.6 million and $0.4 million for the six months ended July 31, 2015 and 2014, respectively. Restricted Stock Units Restricted Stock Units (RSUs) were granted to non-employee board members and are subject to a time-based vesting condition, which is one year. A summary of the Company’s RSU activity and related information for the six months ended July 31, 2015 is as follows: Number of Shares issued under the 2015 Plan Weighted Average Grant-Date Fair Value Per Share Balance as of January 31, 2015 — $ — RSUs granted 67,305 13.00 RSUs vested — — RSUs canceled — — Balance as of July 31, 2015 67,305 $ 13.00 Common Stock Warrants A summary of the Company’s warrants to purchase common stock activity and related information for the six months ended July 31, 2015 is as follows: Common Warrants Outstanding Balance, January 31, 2015 87,828 Add: Conversion of Preferred Series Alpha warrants to common warrants on IPO 87,325 Less: Common warrants exercised to common stock (9,152 ) Less: Common warrants terminated (2,046 ) Balance, July 31, 2015 163,955 These warrants have exercise prices ranging from $4.70 to $6.04 per share and have expiration dates through January 2025. |
Stock-Based Compensation
Stock-Based Compensation | 6 Months Ended |
Jul. 31, 2015 | |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | |
Stock-Based Compensation | 9. Stock-Based Compensation The total stock-based compensation the Company recognized for stock-based awards in the condensed consolidated statements of operations is as follows (in thousands): Three Months Ended July 31, Six Months Ended July 31, 2015 2014 2015 2014 Cost of revenue $ 65 $ 5 $ 123 $ 9 Research and development 73 7 129 12 Sales and marketing 239 23 456 38 General and administrative 361 19 581 36 Total stock-based compensation $ 738 $ 54 $ 1,289 $ 95 The following table presents stock-based compensation expense by award-type (in thousands): Three Months Ended July 31, Six Months Ended July 31, 2015 2014 2015 2014 Stock Options $ 691 $ 54 $ 1,242 $ 95 Restricted Stock Units 29 — 29 — Employee Stock Purchase Plan 18 — 18 — Total stock-based compensation $ 738 $ 54 $ 1,289 $ 95 As of July 31, 2015, there was $7.6 million, $0.8 million and $1.0 million of unrecognized share-based compensation expense, net of estimated forfeitures, related to non-vested stock option grants, unvested RSUs and ESPP, respectively, which will be recognized on a straight-line basis over the remaining weighted-average vesting periods of approximately 3.1 years, 1.0 year and 1.4 years, respectively. Total outstanding non-employee stock options were 87,199 and 13,064 at July 31, 2015 and 2014, respectively. The non-employee stock-based compensation expense was not material for any of the periods presented. Prior to the Company’s IPO, the fair value of the shares of common stock underlying stock options was historically established by the Company’s Board of Directors, and was based in part upon a valuation provided by an independent third-party valuation firm. Subsequent to the completion of the IPO, the Company uses the closing price of common stock as reported on the New York Stock Exchange on the grant date. The Company has consistently used peer company volatilities for calculating the expected volatilities for employee stock options and the ESPP. The expected term of options granted to employees is based on the simplified method as the Company does not have sufficient historical exercise data, and the expected term of the ESPP is based on the contractual term. The risk-free interest rate for the expected term of the options and the ESPP is based on the U.S. Treasury yield curve in effect at the time of grant. The Company recognizes its stock-based compensation related to options and RSUs using a straight-line method over the vesting term. The Company recognizes its stock-based compensation related to ESPP using a straight-line method over the offering period. For the three and six months ended July 31, 2015 and 2014 the fair value of employee stock options grants was estimated using the Black – Scholes model with the following assumptions: Three Months Ended July 31, Six Months Ended July 31, 2015 2014 2015 2014 Stock Options: Expected volatility 54%-59% 73%-79% 54% - 62% 73%-81% Expected term (in years) 5.3-6.1 5.5-6.1 5.3-6.1 5.5-6.1 Risk-free interest rate 1.7%-1.9% 1.9%-2.0% 1.6%-1.9% 1.8%-2.0% Dividend yield — % — % — % — % For the three and six months ended July 31, 2015 and 2014 the fair value of ESPP was estimated using the following assumptions: Three Months Ended July 31, Six Months Ended July 31, 2015 2014 2015 2014 ESPP: Expected volatility 35%-43% — % 35%-43% — % Expected term (in years) 0.7-2.2 — 0.7-2.2 — Risk-free interest rate 0.1%-0.7% — % 0.1%-0.7% — % Dividend yield — % — % — % — % Early Exercise of Common Stock During the three and six months ended July 31, 2014, the Company issued 26,393 and 63,893 shares, respectively, of common stock following the exercise of common stock options prior to their vesting dates, or early exercises. The Company did not issue any shares during the three and six months ended July 31, 2015 that were early exercised. The amounts received from all such early exercises is recorded in accrued expenses on the consolidated balance sheets and reclassified to stockholders’ equity (deficit) as the options vest. The unvested shares are subject to the Company’s repurchase right at the original purchase price, which lapses over the vesting term of the original option grant. As of July 31, 2015 and January 31, 2015, the aggregate price of shares subject to repurchase recorded in accrued expenses and other long-term liabilities totaled $0.3 million and $0.3 million, respectively. |
Income Taxes
Income Taxes | 6 Months Ended |
Jul. 31, 2015 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | Note 10. Income Taxes The Company did not record a provision or benefit for income taxes during the three and six months ended July 31, 2015, primarily due to unbenefited domestic losses. The Company recorded a $0.5 million benefit in the three and six months ended July 31, 2014 arising from the acquisition of Talkatone, Inc. The Company continues to maintain a full valuation allowance against its net deferred tax assets. At July 31, 2015, the Company had unrecognized tax benefits of $1.0 million, none of which would currently affect the Company's effective tax rate, if recognized due to the Company's net deferred tax assets being offset by a valuation allowance. The Company does not anticipate that the amount of unrecognized tax benefits relating to tax positions existing at July 31, 2015 will significantly increase or decrease within the next 12 months. There was no interest expense or penalties related to unrecognized tax benefits recorded through July 31, 2015. A number of years may elapse before an uncertain tax position is audited and finally resolved. While it is often difficult to predict the final outcome or the timing of resolution of any particular uncertain tax position, the Company believes that its reserves for income taxes reflect the most likely outcome. The Company adjusts these reserves, as well as the related interest, in light of changing facts and circumstances. Settlement of any particular position could require the use of cash. |
Basic and Diluted Net Loss Per
Basic and Diluted Net Loss Per Share | 6 Months Ended |
Jul. 31, 2015 | |
Earnings Per Share [Abstract] | |
Basic and Diluted Net Loss Per Share | Note 11. Basic and Diluted Net Loss Per Share Basic and diluted net loss per share of common stock allocable to common stockholders is calculated by dividing the net loss allocable to common stockholders by the weighted average number of common shares outstanding during the period. Diluted net loss per share of common stock is the same as basic net loss per share of common stock, since the effects of potentially dilutive securities are antidilutive. Upon completion of the IPO on July 22, 2015, all outstanding convertible preferred stock was converted to common stock and are included in the weighted average number of common shares used to compute net loss per share from the conversion date. The following table sets forth the computation of the Company’s basic and diluted net loss per share of common stock (in thousands, except share and per share data): Three Months Ended July 31, Six Months Ended July 31, 2015 2014 2015 2014 Numerator Net loss $ (3,403 ) $ (1,101 ) $ (7,338 ) $ (602 ) Denominator Weighted-average common shares for basic and diluted net loss per share 4,233,193 2,273,007 3,422,521 2,347,728 Basic and diluted net loss per share $ (0.80 ) $ (0.48 ) $ (2.14 ) $ (0.26 ) The following table sets forth the potential shares of common stock that were excluded from diluted weighted-average common shares outstanding: Three and Six Months Ended July 31, 2015 2014 Options to purchase common stock 2,185,018 873,379 Employee stock purchase plan 235,097 — Convertible preferred stock — 8,353,748 Warrants to purchase convertible preferred stock — 192,009 Warrants to purchase common stock 163,955 34,908 Common stock subject to repurchase 335,114 606,711 Potential common shares excluded from diluted net loss per share 2,919,184 10,060,755 |
Defined Contribution Plans
Defined Contribution Plans | 6 Months Ended |
Jul. 31, 2015 | |
Compensation And Retirement Disclosure [Abstract] | |
Defined Contribution Plans | 12. Defined Contribution Plans The Company’s contributions to the 401(k) defined contribution plan, which are expensed immediately as compensation costs, were $0.1 million and $37,000 for the three months ended July 31, 2015 and July 31, 2014, respectively, and $0.1 million and $0.1 million for the six months ended July, 31, 2015 and July 31, 2014, respectively . |
Subsequent Events
Subsequent Events | 6 Months Ended |
Jul. 31, 2015 | |
Subsequent Events [Abstract] | |
Subsequent Events | 13. Subsequent Events In August 2015, the Company entered into an agreement to lease 6,724 square feet of additional space in Palo Alto, California. The thirty month lease is scheduled to begin on September 1, 2015 and end on February 28, 2018. The b ase annual rent is initially set at approximately $17,482 per month. Total base rent payable over the lease period is estimated to be approximately $0.5 million. From August 1, 2015 to September 11, 2015, the Company granted options to purchase an aggregate of 70,000 shares of the Company’s common stock at a weighted average exercise price of $9.53 per share, and 914,050 RSUs . |
Significant Accounting Polici19
Significant Accounting Policies (Policies) | 6 Months Ended |
Jul. 31, 2015 | |
Accounting Policies [Abstract] | |
Reverse Stock Split | Reverse Stock Split Effective July 6, 2015, the Company completed a one-for-two reverse stock split, as approved by its Board of Directors (the “Board”). All shares and warrants and per share and warrant amounts set forth herein give effect to this reverse stock split. |
Initial Public Offering and Conversion of Preferred Stock | Initial Public Offering and Conversion of Preferred Stock On July 22, 2015, the Company completed its initial public offering (the “IPO”). As a result, the following transactions were recorded in the Company’s consolidated financial statements as of July 31, 2015: · The Company issued 5,000,000 shares of its common stock at the initial public offering price of $13.00 per share. The net proceeds from the sale of the shares was $57.1 million after deducting the underwriters’ discounts and commissions of $4.5 million and $3.4 million of offering expenses. · 8,353,748 shares of Series Alpha convertible preferred stock and Series Alpha-1 convertible preferred stock were collectively converted into 8,353,748 shares of common stock on a 1:1 basis. The public offering price of $13.00 per share triggered an automatic conversion of 241,469 shares of Series Beta convertible preferred stock, which automatically converted to 525,109 shares of common stock based on an adjusted conversion price equal to 75% of the $13.00 public offering price, or $9.75, rather than the $21.2028 per share consideration paid, pursuant to the conversion price adjustment provision applicable to such shares in the Company’s then-current amended and restated certificate of incorporation. · The December 2010 warrant to purchase 70,287 shares of Series Alpha convertible preferred stock was cash settled at the IPO price of $13.00 per share after deducting the exercise price of $4.70 per share. The Company paid $0.6 million to the warrant holder on settlement. · Of the warrants to purchase 34,397 shares of Series Alpha convertible preferred stock issued in June 2009, warrants to purchase 2,769 shares of Series Alpha convertible preferred stock were cash exercised at an exercise price of $4.70 per share and resulted in 2,769 shares of common stock; warrants to purchase 21,529 shares of Series Alpha convertible preferred stock were net exercised using the IPO price of $13.00 per share net of the exercise price of $4.70 per share resulting in issuance of 13,752 shares of common stock; and warrants to purchase 10,099 shares of common stock were terminated due to failure to exercise on or before the IPO date per the terms of the warrant agreements. · On the completion of the IPO, the warrants to purchase 21,299 shares of Series Alpha convertible preferred stock issued in May 2009 and warrants to purchase 66,026 shares of Series Alpha convertible preferred stock issued in conjunction with the Company’s debt in April and December 2012 and October 2014 were converted on a 1:1 basis into warrants to purchase shares of common stock. · Of the warrants to purchase 87,828 shares of common stock outstanding prior to the IPO, 6,542 common warrants were cash exercised and converted to 6,542 shares of common stock and 4,100 common warrants were exercised net of the respective exercise price per warrant to 2,612 shares of common stock and 556 common warrants were terminated due to non-exercise on IPO per the terms of the warrant agreement. |
Use of Estimates | Use of Estimates The preparation of the Company’s condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amount of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of income and expenses during the reporting period. These estimates are based on information available as of the date of the condensed consolidated financial statements, and assumptions are inherently subjective in nature; therefore, actual results could differ from management’s estimates. |
Comprehensive Loss | Comprehensive Loss The Company does not have any components of comprehensive income (loss), as such the net loss for all periods reported equals comprehensive loss. |
Concentration of Credit Risk | Concentration of Risk — The concentration of accounts receivable, net of allowance of returns of $0 and $0.1 million as of July 31, 2015 and January 31, 2015, respectively are as follows: As of July 31, 2015 January 31, 2015 Customer A 16 % 11 % Customer B 14 % * Customer C * 23 % Customer D * 10 % * represents less than 10% during the period There were no customers that individually exceeded 10% of our revenue during the three and six months ended July 31, 2015 and 2014. |
Recent Accounting Pronouncements | Recent Accounting Pronouncements In May 2014, the FASB issued Accounting Standard Update (“ASU”) No. 2014-09 (ASC 606), Revenue from Contracts with Customers , which affects any entity that either enters into contracts with customers to transfer goods and services or enters into contracts for the transfer of nonfinancial assets. ASU 2014-09 will replace most existing revenue recognition guidance in GAAP when it becomes effective. The standard’s core principle is that a company will recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services. In doing so, companies will need to use more judgment and make more estimates than under the currently effective guidance. These may include identifying performance obligations in the contract, estimating the amount of variable consideration to include in the transaction price and allocating the transaction price to each separate performance obligation. Revenue from Contracts with Customers (ASC 606) Deferral of Effective Date . Early adoption is permitted but not before the original effective date of annual periods beginning after December 15, 2016. The Company is currently evaluating the impact of this guidance on its consolidated financial statements. In August 2014, the FASB issued ASU No. 2014-15 (ASC 205) , Disclosure of Uncertainties About an Entity’s Ability to Continue as a Going Concern In July 2015, the FASB issued ASU No. 2015-11 (ASC 330) , Simplifying the Measurement of Inventory Update No. 2015-11 requires companies to measure inventory using the lower of cost and net realizable value. It is effective for annual reporting periods beginning after December 15, 2016 and interim periods within those fiscal years. |
Significant Accounting Polici20
Significant Accounting Policies (Tables) | 6 Months Ended |
Jul. 31, 2015 | |
Accounting Policies [Abstract] | |
Concentration of Accounts Receivable | The concentration of accounts receivable, net of allowance of returns of $0 and $0.1 million as of July 31, 2015 and January 31, 2015, respectively are as follows: As of July 31, 2015 January 31, 2015 Customer A 16 % 11 % Customer B 14 % * Customer C * 23 % Customer D * 10 % * represents less than 10% during the period |
Fair Value Measurement (Tables)
Fair Value Measurement (Tables) | 6 Months Ended |
Jul. 31, 2015 | |
Fair Value Disclosures [Abstract] | |
Schedule of Financial Assets and Liabilities at Fair Value | The Company’s financial assets and liabilities that are measured at fair value on a recurring basis by level within the fair value hierarchy are as follows (in thousands): Balance as of July 31, 2015 Level 1 Level 2 Level 3 Total Assets: Cash $ 156 $ — $ — $ 156 Money market fund 59,017 — — 59,017 Total Cash and Cash Equivalents $ 59,173 $ — $ — $ 59,173 Liabilities: Acquisition-related contingent consideration $ — $ — $ 798 $ 798 Convertible preferred stock warrant liability — — — — Total liabilities $ — $ — $ 798 $ 798 Balance as of January 31, 2015 Level 1 Level 2 Level 3 Total Assets: Cash $ 115 $ — $ — $ 115 Money market fund 9,018 — — 9,018 Total Cash and Cash Equivalents $ 9,133 $ — $ — $ 9,133 Liabilities: Acquisition-related contingent consideration $ — $ — $ 1,695 $ 1,695 Convertible preferred stock warrant liability — — 1,217 1,217 Total liabilities $ — $ — $ 2,912 $ 2,912 |
Schedule of Changes in Level Three Fair Value Category | Changes in the Level 3 fair value category for the periods presented are as follows (in thousands): Convertible Preferred Stock Warrant Liability Acquisition-Related Contingent Consideration Balance at January 31, 2015 $ 1,217 $ 1,695 Payout of consideration — (570 ) Issuance of shares — (451 ) Changes in fair value 442 124 Payment of preferred warrant liability upon IPO (584 ) — De-recognition of preferred warrant liability to additional paid-in capital (1,075 ) — Balance at July 31, 2015 $ — $ 798 |
Balance Sheet Components (Table
Balance Sheet Components (Tables) | 6 Months Ended |
Jul. 31, 2015 | |
Deferred Revenue Disclosure [Abstract] | |
Components of Deferred Revenue | The following table shows the components of deferred revenue (in thousands): July 31, January 31, 2015 2015 Deferred revenue: Subscription and services $ 11,128 $ 9,863 Product and other 2,884 4,523 Total deferred revenue 14,012 14,386 Less: current portion of deferred revenue 13,976 14,348 Deferred revenue, noncurrent portion included in other long-term liabilities $ 36 $ 38 |
Inventory Disclosure [Abstract] | |
Components of Inventories | The following table shows the components of inventories (in thousands): July 31, January 31, 2015 2015 Finished goods $ 5,972 $ 5,719 Raw material 1,249 2,362 Total inventory $ 7,221 $ 8,081 |
Payables And Accruals [Abstract] | |
Components of Accrued Expenses | The following table shows the components of accrued expenses (in thousands): July 31, January 31, 2015 2015 Accrued regulatory fees and taxes $ 4,946 $ 4,762 Accrued payroll and related expenses 2,410 2,022 Acquisition-related contingent consideration-current portion 797 1,027 Other accrued expenses 3,340 2,502 Total accrued expenses $ 11,493 $ 10,313 |
Convertible Preferred Stock W23
Convertible Preferred Stock Warrant Liability (Tables) | 6 Months Ended |
Jul. 31, 2015 | |
Summary of Warrants to Purchase Convertible Preferred Stock Outstanding | A summary of the Company’s warrants to purchase common stock activity and related information for the six months ended July 31, 2015 is as follows: Common Warrants Outstanding Balance, January 31, 2015 87,828 Add: Conversion of Preferred Series Alpha warrants to common warrants on IPO 87,325 Less: Common warrants exercised to common stock (9,152 ) Less: Common warrants terminated (2,046 ) Balance, July 31, 2015 163,955 |
Stock Options Valuation Assumptions Used to Calculate the Fair Value of Warrants | The following assumptions were used to calculate the fair value of the warrants: Three Months Ended July 31, Six Months Ended July 31, 2015 2014 2015 2014 Assumptions: Expected volatility 66% 70% 66%-70% 70% Expected term (in years) 0-1.0 1.8-1.9 0-1.1 1.8-2.1 Risk-free interest rate 0%-0.3% 0.5% 0%-0.3% 0.5% Dividend yield — % — % — % — % |
Convertible Preferred Stock | |
Summary of Warrants to Purchase Convertible Preferred Stock Outstanding | At each balance sheet date, the Company had the following warrants to purchase convertible preferred stock outstanding: Fair value Fair value Fair value Warrants of Warrants Warrants of Warrants Warrants of Warrants outstanding Liabilities as of outstanding Liabilities as of outstanding Liabilities as of as of January 31, 2015 as of April 30, 2015 as of July 31, 2015 January (in thousands) April 30, 2015 (in thousands) July 31,2015 (in thousands) December 2010 warrant 70,287 $ 474 70,287 $ 726 — $ — April 2012, December 2012 and October 2014 warrants 66,026 374 66,026 611 — — May and June 2009 warrants 55,696 369 55,696 596 — — Total 192,009 $ 1,217 192,009 $ 1,933 — $ — |
Commitments and Contingencies (
Commitments and Contingencies (Table) | 6 Months Ended |
Jul. 31, 2015 | |
Commitments And Contingencies Disclosure [Abstract] | |
Minimum Rental Commitments under Non-cancelable Leases | Minimum rental commitments under all non-cancelable leases with an initial term in excess of one year as of July 31, 2015, were as follows (in thousands): Capital Operating Year Ending July 31, Leases Leases 2016 (remaining six months) $ 357 $ 775 2017 653 1,589 2018 — 1,202 2019 — 27 Total $ 1,010 $ 3,593 Less: Amount representing interest (50 ) Present value of lease payments 960 Less: Current portion (668 ) Capital lease—net of current portion $ 292 |
Stockholders' Equity (Tables)
Stockholders' Equity (Tables) | 6 Months Ended |
Jul. 31, 2015 | |
Equity [Abstract] | |
Summary of Stock Option Activity Plans | Summary of option activity under the Company’s 2005 Plan and 2015 Plan for the six months is set forth below: Options Outstanding Number of Weighted Shares Weighted Average Aggregate Underlying Average Remaining Intrinsic Outstanding Exercise Contractual Term Value Options Price (Years) (in thousands) Balance, January 31, 2015 1,893,239 $ 3.85 8.40 $ 10,109 Options granted 355,448 13.17 Options exercised (48,758 ) 0.38 Options canceled (14,911 ) 4.38 Balance, July 31, 2015 2,185,018 5.44 8.26 $ 16,899 Vested and exercisable, July 31, 2015 596,737 $ 0.63 5.23 $ 7,193 Vested and expected to vest, July 31, 2015 1,989,485 $ 4.19 8.18 $ 15,470 |
Summary of Restricted Stock Units Activity | A summary of the Company’s RSU activity and related information for the six months ended July 31, 2015 is as follows: Number of Shares issued under the 2015 Plan Weighted Average Grant-Date Fair Value Per Share Balance as of January 31, 2015 — $ — RSUs granted 67,305 13.00 RSUs vested — — RSUs canceled — — Balance as of July 31, 2015 67,305 $ 13.00 |
Summary of Warrants to Purchase Convertible Preferred Stock Outstanding | A summary of the Company’s warrants to purchase common stock activity and related information for the six months ended July 31, 2015 is as follows: Common Warrants Outstanding Balance, January 31, 2015 87,828 Add: Conversion of Preferred Series Alpha warrants to common warrants on IPO 87,325 Less: Common warrants exercised to common stock (9,152 ) Less: Common warrants terminated (2,046 ) Balance, July 31, 2015 163,955 |
Stock-Based Compensation (Table
Stock-Based Compensation (Tables) | 6 Months Ended |
Jul. 31, 2015 | |
Total Stock-Based Compensation Recognized for Stock-Based Awards in Condensed Consolidated Statements of Operations | The total stock-based compensation the Company recognized for stock-based awards in the condensed consolidated statements of operations is as follows (in thousands): Three Months Ended July 31, Six Months Ended July 31, 2015 2014 2015 2014 Cost of revenue $ 65 $ 5 $ 123 $ 9 Research and development 73 7 129 12 Sales and marketing 239 23 456 38 General and administrative 361 19 581 36 Total stock-based compensation $ 738 $ 54 $ 1,289 $ 95 |
Stock-Based Compensation Expense by Award Type | The following table presents stock-based compensation expense by award-type (in thousands): Three Months Ended July 31, Six Months Ended July 31, 2015 2014 2015 2014 Stock Options $ 691 $ 54 $ 1,242 $ 95 Restricted Stock Units 29 — 29 — Employee Stock Purchase Plan 18 — 18 — Total stock-based compensation $ 738 $ 54 $ 1,289 $ 95 |
Stock Options Valuation Assumptions Used to Calculate the Fair Value of Warrants | The following assumptions were used to calculate the fair value of the warrants: Three Months Ended July 31, Six Months Ended July 31, 2015 2014 2015 2014 Assumptions: Expected volatility 66% 70% 66%-70% 70% Expected term (in years) 0-1.0 1.8-1.9 0-1.1 1.8-2.1 Risk-free interest rate 0%-0.3% 0.5% 0%-0.3% 0.5% Dividend yield — % — % — % — % |
Employee Stock Option | |
Assumptions Used to Estimate Fair Value of Employee Stock Options Grants Using Black-Scholes Option Pricing Model | For the three and six months ended July 31, 2015 and 2014 the fair value of employee stock options grants was estimated using the Black – Scholes model with the following assumptions: Three Months Ended July 31, Six Months Ended July 31, 2015 2014 2015 2014 Stock Options: Expected volatility 54%-59% 73%-79% 54% - 62% 73%-81% Expected term (in years) 5.3-6.1 5.5-6.1 5.3-6.1 5.5-6.1 Risk-free interest rate 1.7%-1.9% 1.9%-2.0% 1.6%-1.9% 1.8%-2.0% Dividend yield — % — % — % — % |
ESPP | |
Stock Options Valuation Assumptions Used to Calculate the Fair Value of Warrants | For the three and six months ended July 31, 2015 and 2014 the fair value of ESPP was estimated using the following assumptions: Three Months Ended July 31, Six Months Ended July 31, 2015 2014 2015 2014 ESPP: Expected volatility 35%-43% — % 35%-43% — % Expected term (in years) 0.7-2.2 — 0.7-2.2 — Risk-free interest rate 0.1%-0.7% — % 0.1%-0.7% — % Dividend yield — % — % — % — % |
Basic and Diluted Net Loss Pe27
Basic and Diluted Net Loss Per Share (Tables) | 6 Months Ended |
Jul. 31, 2015 | |
Earnings Per Share [Abstract] | |
Computation of Basic and Diluted Net Loss Per Share of Common Stock | The following table sets forth the computation of the Company’s basic and diluted net loss per share of common stock (in thousands, except share and per share data): Three Months Ended July 31, Six Months Ended July 31, 2015 2014 2015 2014 Numerator Net loss $ (3,403 ) $ (1,101 ) $ (7,338 ) $ (602 ) Denominator Weighted-average common shares for basic and diluted net loss per share 4,233,193 2,273,007 3,422,521 2,347,728 Basic and diluted net loss per share $ (0.80 ) $ (0.48 ) $ (2.14 ) $ (0.26 ) |
Potential Shares of Common Stock Excluded from Diluted Weighted-Average Common Shares Outstanding | The following table sets forth the potential shares of common stock that were excluded from diluted weighted-average common shares outstanding: Three and Six Months Ended July 31, 2015 2014 Options to purchase common stock 2,185,018 873,379 Employee stock purchase plan 235,097 — Convertible preferred stock — 8,353,748 Warrants to purchase convertible preferred stock — 192,009 Warrants to purchase common stock 163,955 34,908 Common stock subject to repurchase 335,114 606,711 Potential common shares excluded from diluted net loss per share 2,919,184 10,060,755 |
Description of Business and S28
Description of Business and Summary of Significant Accounting Policies - Additional Information (Details) | 6 Months Ended |
Jul. 31, 2015 | |
Accounting Policies [Abstract] | |
Date of Incorporation of Company | Nov. 19, 2003 |
Significant Accounting Polici29
Significant Accounting Policies - Additional Information (Details) $ / shares in Units, $ in Thousands | Jul. 22, 2015USD ($)$ / sharesshares | Jul. 06, 2015 | Dec. 31, 2010USD ($)$ / sharesshares | Jul. 31, 2015USD ($)$ / sharesshares | Jan. 31, 2015USD ($)$ / sharesshares | Jun. 30, 2009shares | May. 31, 2009shares |
Summary Of Significant Accounting Policies [Line Items] | |||||||
Reverse stock split ratio | 0.5 | ||||||
Common stock, shares issued | 2,612 | 16,684,686 | 2,515,065 | ||||
Public offering price | $ / shares | $ 13 | $ 13 | |||||
Net proceeds from issuance of common stock | $ | $ 58,848 | ||||||
Number of preferred stock converted | 13,752 | ||||||
Common stock issued for conversion of preferred stock | 6,542 | ||||||
Convertible preferred stock warrant liability settled | $ | $ 600 | ||||||
Warrant to purchase convertible preferred stock | 70,287 | 76,630 | 34,397 | 21,299 | |||
Exercise price per share of warrants | $ / shares | $ 4.70 | $ 4.70 | $ 6.04 | ||||
Warrant exercised | 21,529 | ||||||
Class of warrants or rights termination | 556 | ||||||
Warrants issued | 66,026 | ||||||
Common warrants were cash exercised | 6,542 | ||||||
Net of allowance of returns | $ | $ 0 | $ 100 | |||||
Convertible Preferred Stock | |||||||
Summary Of Significant Accounting Policies [Line Items] | |||||||
Warrant to purchase convertible preferred stock | 2,769 | 34,397 | 21,299 | ||||
Class of warrants or rights termination | 10,099 | ||||||
Common Stock | |||||||
Summary Of Significant Accounting Policies [Line Items] | |||||||
Warrant to purchase convertible preferred stock | 87,828 | 21,299 | |||||
Common warrants were exercised | 4,100 | ||||||
Initial Public Offering | |||||||
Summary Of Significant Accounting Policies [Line Items] | |||||||
Common stock, shares issued | 5,000,000 | 5,000,000 | |||||
Public offering price | $ / shares | $ 13 | $ 13 | |||||
Net proceeds from issuance of common stock | $ | $ 57,100 | ||||||
Underwriters discounts and commissions related to stock issuance | $ | 4,500 | ||||||
Offering cost related to stock issuance | $ | $ 3,400 | ||||||
Common stock issued for conversion of preferred stock | 525,109 | ||||||
Percentage of guaranteed conversion price | 75.00% | ||||||
Warrant to purchase convertible preferred stock | 21,529 | ||||||
Exercise price per share of warrants | $ / shares | $ 4.70 | ||||||
Initial Public Offering | Series Alpha preferred stock and Series Alpha -1 preferred stock | |||||||
Summary Of Significant Accounting Policies [Line Items] | |||||||
Public offering price | $ / shares | $ 13 | ||||||
Number of preferred stock converted | 8,353,748 | ||||||
Initial Public Offering | Series Alpha-1 | |||||||
Summary Of Significant Accounting Policies [Line Items] | |||||||
Common stock issued for conversion of preferred stock | 8,353,748 | ||||||
Initial Public Offering | Series Beta Preferred Stock | |||||||
Summary Of Significant Accounting Policies [Line Items] | |||||||
Number of preferred stock converted | 241,469 | ||||||
Debt Instrument, Convertible, Conversion Price | $ / shares | $ 21.2028 | ||||||
Initial Public Offering | Convertible Preferred Stock | |||||||
Summary Of Significant Accounting Policies [Line Items] | |||||||
Common stock conversion ratio | 1 | ||||||
Convertible preferred stock adjusted conversion price | $ / shares | $ 9.75 | ||||||
Initial Public Offering | Common Stock | |||||||
Summary Of Significant Accounting Policies [Line Items] | |||||||
Warrant to purchase convertible preferred stock | 13,752 |
Significant Accounting Polici30
Significant Accounting Policies - Concentration of Accounts Receivable (Details) - Accounts Receivable - Customer Concentration Risk | 6 Months Ended | 12 Months Ended |
Jul. 31, 2015 | Jan. 31, 2015 | |
Customer A | ||
Concentration Risk [Line Items] | ||
Concentration risk percentage | 16.00% | 11.00% |
Customer B | ||
Concentration Risk [Line Items] | ||
Concentration risk percentage | 14.00% | |
Customer C | ||
Concentration Risk [Line Items] | ||
Concentration risk percentage | 23.00% | |
Customer D | ||
Concentration Risk [Line Items] | ||
Concentration risk percentage | 10.00% |
Fair value measurement - Additi
Fair value measurement - Additional Information (Details) - USD ($) | 6 Months Ended | 12 Months Ended | |||||
Jul. 31, 2015 | Jan. 31, 2015 | Jul. 22, 2015 | Oct. 31, 2014 | Dec. 31, 2012 | Apr. 30, 2012 | Dec. 31, 2010 | |
Fair Value Disclosures [Line Items] | |||||||
Transfers into or out of the level 3 category | $ 0 | $ 0 | |||||
Exercise price per share of warrants | $ 6.04 | $ 4.70 | $ 4.70 | ||||
Series Alpha Convertible Preferred Stock | |||||||
Fair Value Disclosures [Line Items] | |||||||
Exercise price per share of warrants | $ 4.70 | $ 4.70 | $ 4.70 | $ 4.70 | |||
Initial Public Offering | |||||||
Fair Value Disclosures [Line Items] | |||||||
Exercise price per share of warrants | $ 4.70 | ||||||
Initial Public Offering | Series Alpha Convertible Preferred Stock | |||||||
Fair Value Disclosures [Line Items] | |||||||
Initial public offering warrant to purchase, shares | 70,287 | ||||||
Exercise price per share of warrants | $ 13 | ||||||
Warrants exercise price | $ 4.70 | ||||||
Total warrant liabilities | $ 600,000 |
Fair value measurement - Schedu
Fair value measurement - Schedule of Financial Assets and Liabilities at Fair Value (Details) - USD ($) $ in Thousands | Jul. 31, 2015 | Jan. 31, 2015 |
Assets: | ||
Total Cash and Cash Equivalents | $ 59,173 | $ 9,133 |
Liabilities: | ||
Total liabilities | 798 | 2,912 |
Cash | ||
Assets: | ||
Total Cash and Cash Equivalents | 156 | 115 |
Money Market Funds | ||
Assets: | ||
Total Cash and Cash Equivalents | 59,017 | 9,018 |
Level 1 | ||
Assets: | ||
Total Cash and Cash Equivalents | 59,173 | 9,133 |
Level 1 | Cash | ||
Assets: | ||
Total Cash and Cash Equivalents | 156 | 115 |
Level 1 | Money Market Funds | ||
Assets: | ||
Total Cash and Cash Equivalents | 59,017 | 9,018 |
Level 3 | ||
Liabilities: | ||
Total liabilities | 798 | 2,912 |
Acquisition-Related Contingent Consideration | ||
Liabilities: | ||
Total liabilities | 798 | 1,695 |
Acquisition-Related Contingent Consideration | Level 3 | ||
Liabilities: | ||
Total liabilities | $ 798 | 1,695 |
Convertible Preferred Stock Warrant Liability | ||
Liabilities: | ||
Total liabilities | 1,217 | |
Convertible Preferred Stock Warrant Liability | Level 3 | ||
Liabilities: | ||
Total liabilities | $ 1,217 |
Fair value measurement - Sche33
Fair value measurement - Schedule of Changes in Level Three Fair Value Category (Details) - USD ($) $ in Thousands | 6 Months Ended | |
Jul. 31, 2015 | Jul. 31, 2014 | |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Beginning Balance | $ 2,912 | |
Payout of consideration | (124) | $ (93) |
Issuance of shares | (451) | $ (338) |
Ending Balance | 798 | |
Convertible Preferred Stock Warrant Liability | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Beginning Balance | 1,217 | |
Acquisition-Related Contingent Consideration | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Beginning Balance | 1,695 | |
Ending Balance | 798 | |
Level 3 | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Beginning Balance | 2,912 | |
Ending Balance | 798 | |
Level 3 | Convertible Preferred Stock Warrant Liability | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Beginning Balance | 1,217 | |
Changes in fair value | 442 | |
Payment of preferred warrant liability upon IPO | (584) | |
De-recognition of preferred warrant liability to additional paid-in capital | (1,075) | |
Level 3 | Acquisition-Related Contingent Consideration | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Beginning Balance | 1,695 | |
Payout of consideration | (570) | |
Issuance of shares | (451) | |
Changes in fair value | 124 | |
Ending Balance | $ 798 |
Balance Sheet Components - Comp
Balance Sheet Components - Components of Inventories (Details) - USD ($) $ in Thousands | Jul. 31, 2015 | Jan. 31, 2015 |
Inventory Disclosure [Abstract] | ||
Finished goods | $ 5,972 | $ 5,719 |
Raw material | 1,249 | 2,362 |
Total inventory | $ 7,221 | $ 8,081 |
Balance Sheet Components - Co35
Balance Sheet Components - Components of Deferred Revenue (Details) - USD ($) $ in Thousands | Jul. 31, 2015 | Jan. 31, 2015 |
Deferred Revenue Arrangement [Line Items] | ||
Deferred revenue | $ 14,012 | $ 14,386 |
Less: current portion of deferred revenue | 13,976 | 14,348 |
Deferred revenue, noncurrent portion included in other long-term liabilities | 36 | 38 |
Subscription and Services | ||
Deferred Revenue Arrangement [Line Items] | ||
Deferred revenue | 11,128 | 9,863 |
Product and Other | ||
Deferred Revenue Arrangement [Line Items] | ||
Deferred revenue | $ 2,884 | $ 4,523 |
Balance Sheet Components - Co36
Balance Sheet Components - Components of Accrued Expenses (Details) - USD ($) $ in Thousands | Jul. 31, 2015 | Jan. 31, 2015 |
Payables And Accruals [Abstract] | ||
Accrued regulatory fees and taxes | $ 4,946 | $ 4,762 |
Accrued payroll and related expenses | 2,410 | 2,022 |
Acquisition-related contingent consideration-current portion | 797 | 1,027 |
Other accrued expenses | 3,340 | 2,502 |
Total accrued expenses | $ 11,493 | $ 10,313 |
Debt - Additional Information (
Debt - Additional Information (Details) - USD ($) | 1 Months Ended | 3 Months Ended | 6 Months Ended | |||||||||||
Jul. 31, 2015 | Jan. 31, 2015 | Jul. 31, 2014 | Dec. 31, 2012 | Jul. 31, 2015 | Jul. 31, 2014 | Jul. 31, 2015 | Jul. 31, 2014 | Jul. 22, 2015 | Oct. 31, 2014 | Apr. 30, 2012 | Dec. 31, 2010 | Jun. 30, 2009 | May. 31, 2009 | |
Debt Instrument [Line Items] | ||||||||||||||
Repayment of outstanding debt | $ 11,294,000 | $ 733,000 | ||||||||||||
Warrant to purchase convertible preferred stock | 76,630 | 70,287 | 34,397 | 21,299 | ||||||||||
Exercise price per share of warrants | $ 6.04 | $ 4.70 | $ 4.70 | |||||||||||
Warrants, exercisable date | 2025-01 | |||||||||||||
Interest expense | $ 600,000 | $ 100,000 | 900,000 | 100,000 | ||||||||||
Amortization of debt issuance costs | 20,000 | $ 13,000 | 64,000 | $ 28,000 | ||||||||||
Write-off of non-cash deferred debt issuance costs | 332,000 | $ 332,000 | ||||||||||||
Term Debt | Secured Debt Agreement | ||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||
Term loan | $ 4,000,000 | |||||||||||||
Term loan fixed interest rate | 5.75% | |||||||||||||
Debt instrument, maturity period | 2015-09 | |||||||||||||
Repayment of remaining balance | $ 300,000 | 300,000 | $ 300,000 | |||||||||||
the Revolver | ||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||
Line of credit facility, current borrowing capacity | 12,000,000 | $ 12,000,000 | $ 12,000,000 | |||||||||||
the Revolver | Revolving Credit Facility | ||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||
Debt instrument, maturity period | 2014-12 | |||||||||||||
Revolving line of credit, maximum borrowing amount | $ 12,000,000 | $ 6,000,000 | ||||||||||||
Interest rate | 2.75% | |||||||||||||
Interest rate | 6.00% | |||||||||||||
Borrowing under the revolving line of credit facility | $ 5,000,000 | |||||||||||||
Repayment of outstanding debt | $ 5,000,000 | |||||||||||||
the Revolver | Revolving Credit Facility | 2014 Amended Agreement | ||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||
Debt instrument, maturity period | 2016-07 | |||||||||||||
New Line Of Credit | ||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||
Proceeds from lines of credit | $ 10,000,000 | |||||||||||||
Line of credit facility, current borrowing capacity | $ 5,000,000 | |||||||||||||
Interest rate during period | 11.00% | |||||||||||||
Credit facility, maturity date | Jan. 5, 2018 | |||||||||||||
Line of credit, covenant terms | The Company’s credit agreements with its lender contain customary negative covenants that limit the ability to, among other things, incur additional indebtedness, grant liens, make investments, repurchase stock, pay dividends, transfer assets and merge or consolidate. |
Convertible Preferred Stock W38
Convertible Preferred Stock Warrant Liability - Summary of Warrants to Purchase Convertible Preferred Stock Outstanding (Details) - USD ($) $ in Thousands | Apr. 30, 2015 | Jan. 31, 2015 |
Warrants Outstanding | ||
Convertible Preferred Stock Warrant Liability [Line Items] | ||
Convertible preferred stock outstanding | $ 192,009 | $ 192,009 |
Fair Value Of Warrants Liabilities | ||
Convertible Preferred Stock Warrant Liability [Line Items] | ||
Convertible preferred stock outstanding | 1,933 | 1,217 |
December 2010 warrant | Warrants Outstanding | ||
Convertible Preferred Stock Warrant Liability [Line Items] | ||
Convertible preferred stock outstanding | 70,287 | 70,287 |
December 2010 warrant | Fair Value Of Warrants Liabilities | ||
Convertible Preferred Stock Warrant Liability [Line Items] | ||
Convertible preferred stock outstanding | 726 | 474 |
April 2012, December 2012 and October 2014 warrants | Warrants Outstanding | ||
Convertible Preferred Stock Warrant Liability [Line Items] | ||
Convertible preferred stock outstanding | 66,026 | 66,026 |
April 2012, December 2012 and October 2014 warrants | Fair Value Of Warrants Liabilities | ||
Convertible Preferred Stock Warrant Liability [Line Items] | ||
Convertible preferred stock outstanding | 611 | 374 |
May and June 2009 warrants | Warrants Outstanding | ||
Convertible Preferred Stock Warrant Liability [Line Items] | ||
Convertible preferred stock outstanding | 55,696 | 55,696 |
May and June 2009 warrants | Fair Value Of Warrants Liabilities | ||
Convertible Preferred Stock Warrant Liability [Line Items] | ||
Convertible preferred stock outstanding | $ 596 | $ 369 |
Convertible Preferred Stock W39
Convertible Preferred Stock Warrant Liability - Additional Information (Details) - USD ($) | Jul. 22, 2015 | Oct. 31, 2014 | Dec. 31, 2012 | Apr. 30, 2012 | May. 31, 2009 | Jul. 31, 2015 | Jul. 31, 2014 | Jul. 31, 2015 | Jul. 31, 2014 | Jan. 31, 2015 | Dec. 31, 2010 | Jun. 30, 2009 |
Class Of Stock [Line Items] | ||||||||||||
Warrant to purchase convertible preferred stock | 21,299 | 76,630 | 70,287 | 34,397 | ||||||||
Exercise price per share of warrants | $ 4.70 | $ 6.04 | $ 4.70 | |||||||||
Payment for warrant holders | $ 600,000 | |||||||||||
Public offering price | $ 13 | $ 13 | ||||||||||
Aggregate liability | $ 400,000 | |||||||||||
Warrants terminated | 10,099 | |||||||||||
Gain on termination of warrants | $ 100,000 | |||||||||||
December 2010 warrant | ||||||||||||
Class Of Stock [Line Items] | ||||||||||||
Remeasurement gain (loss) from change in fair value of warrants | $ 100,000 | $ (17,000) | (100,000) | $ (100,000) | ||||||||
May and June 2009 warrants | ||||||||||||
Class Of Stock [Line Items] | ||||||||||||
Remeasurement gain (loss) from change in fair value of warrants | $ 100,000 | (5,000) | $ (100,000) | (48,000) | ||||||||
Initial Public Offering | ||||||||||||
Class Of Stock [Line Items] | ||||||||||||
Warrant to purchase convertible preferred stock | 21,529 | |||||||||||
Exercise price per share of warrants | $ 4.70 | |||||||||||
Public offering price | $ 13 | $ 13 | $ 13 | |||||||||
Warrants terminated | 10,099 | |||||||||||
Warrants issued | 21,299 | |||||||||||
Series Alpha Convertible Preferred Stock | ||||||||||||
Class Of Stock [Line Items] | ||||||||||||
Warrant to purchase convertible preferred stock | 70,287 | |||||||||||
Exercise price per share of warrants | $ 4.70 | $ 4.70 | $ 4.70 | $ 4.70 | ||||||||
Warrants issued to purchase convertible preferred stock | 66,026 | 66,026 | 66,026 | |||||||||
Aggregate liability | $ 700,000 | |||||||||||
Warrant conversion ratio | 100.00% | |||||||||||
Series Alpha Convertible Preferred Stock | Minimum | ||||||||||||
Class Of Stock [Line Items] | ||||||||||||
Warrant expiry period | 2022-04 | |||||||||||
Series Alpha Convertible Preferred Stock | Maximum | ||||||||||||
Class Of Stock [Line Items] | ||||||||||||
Warrant expiry period | 2022-12 | |||||||||||
Series Alpha Convertible Preferred Stock | April 2012, December 2012 and October 2014 warrants | ||||||||||||
Class Of Stock [Line Items] | ||||||||||||
Remeasurement gain (loss) from change in fair value of warrants | $ (100,000) | $ (9,000) | $ (300,000) | $ (100,000) | ||||||||
Series Alpha Convertible Preferred Stock | Initial Public Offering | ||||||||||||
Class Of Stock [Line Items] | ||||||||||||
Exercise price per share of warrants | $ 13 | $ 13 | ||||||||||
Convertible Preferred Stock | ||||||||||||
Class Of Stock [Line Items] | ||||||||||||
Warrant to purchase convertible preferred stock | 2,769 | 21,299 | 34,397 | |||||||||
Common Stock | ||||||||||||
Class Of Stock [Line Items] | ||||||||||||
Warrant to purchase convertible preferred stock | 87,828 | 21,299 | ||||||||||
Common Stock | May and June 2009 warrants | ||||||||||||
Class Of Stock [Line Items] | ||||||||||||
Warrant to purchase convertible preferred stock | 2,769 | |||||||||||
Common Stock | Initial Public Offering | ||||||||||||
Class Of Stock [Line Items] | ||||||||||||
Warrant to purchase convertible preferred stock | 13,752 |
Convertible Preferred Stock W40
Convertible Preferred Stock Warrant Liability - Assumptions Used to Estimate Fair Value of Each Stock Option (Details) | 3 Months Ended | 6 Months Ended | ||
Jul. 31, 2015 | Jul. 31, 2014 | Jul. 31, 2015 | Jul. 31, 2014 | |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||
Expected volatility, minimum | 66.00% | 70.00% | 66.00% | 70.00% |
Expected volatility, maximum | 70.00% | |||
Risk-free interest rate, minimum | 0.00% | 0.50% | 0.00% | 0.50% |
Risk-free interest rate, maximum | 0.30% | 0.30% | ||
Minimum | ||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||
Expected term (in years) | 1 year 9 months 18 days | 1 year 9 months 18 days | ||
Maximum | ||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||
Expected term (in years) | 1 year | 1 year 10 months 24 days | 1 year 1 month 6 days | 2 years 1 month 6 days |
Commitments and Contingencies -
Commitments and Contingencies - Additional Information (Details) - USD ($) | 1 Months Ended | 3 Months Ended | 6 Months Ended | ||
Jan. 31, 2015 | Jul. 31, 2015 | Jul. 31, 2014 | Jul. 31, 2015 | Jul. 31, 2014 | |
Operating Leased Assets [Line Items] | |||||
Operating lease expiration date | 2018-02 | ||||
Rent expense | $ 300,000 | $ 200,000 | $ 600,000 | $ 400,000 | |
Non-cancelable purchase commitments | 1,900,000 | 1,900,000 | |||
Contingent liabilities requiring accrual or disclosure | $ 0 | $ 0 | |||
Lease Agreement One | |||||
Operating Leased Assets [Line Items] | |||||
Capital lease of computer equipment maturity date | 2016-12 | ||||
Right to purchase the equipment, amount | $ 1 |
Commitments and Contingencies42
Commitments and Contingencies - Minimum Rental Commitments under Non-cancelable Leases (Details) $ in Thousands | Jul. 31, 2015USD ($) |
Capital Leases | |
2016 (remaining six months) | $ 357 |
2,017 | 653 |
Total | 1,010 |
Less: Amount representing interest | (50) |
Present value of lease payments | 960 |
Less: Current portion | (668) |
Capital lease—net of current portion | 292 |
Operating Leases | |
2016 (remaining six months) | 775 |
2,017 | 1,589 |
2,018 | 1,202 |
2,019 | 27 |
Total | $ 3,593 |
Stockholders' Equity - Addition
Stockholders' Equity - Additional Information (Details) | Jul. 22, 2015$ / sharesshares | Jul. 06, 2015$ / sharesshares | Jul. 31, 2015USD ($)$ / sharesshares | Jul. 31, 2014USD ($) | Jul. 31, 2015USD ($)Peroid$ / sharesshares | Jul. 31, 2014USD ($) | Jan. 31, 2015$ / sharesshares | Dec. 31, 2010$ / shares |
Stockholders Equity Note Disclosure [Line Items] | ||||||||
Reverse stock split ratio | 0.5 | |||||||
Preferred stock, shares outstanding | 0 | 0 | 0 | |||||
Common stock, shares authorized | 100,000,000 | 100,000,000 | 100,000,000 | 13,000,000 | ||||
Common stock, par value | $ / shares | $ 0.0001 | $ 0.0001 | $ 0.0001 | $ 0.0001 | ||||
Preferred stock, shares authorized | 10,000,000 | 10,000,000 | 10,000,000 | 0 | ||||
Preferred stock, par value | $ / shares | $ 0.0001 | $ 0.0001 | $ 0.0001 | $ 0.0001 | ||||
Common stock, shares outstanding | 16,684,686 | 16,684,686 | 2,515,065 | |||||
Common stock, shares issued | 2,612 | 16,684,686 | 16,684,686 | 2,515,065 | ||||
Preferred stock, shares issued | 0 | 0 | 0 | |||||
Stock-based compensation | $ | $ 738,000 | $ 54,000 | $ 1,289,000 | $ 95,000 | ||||
Exercise price per share of warrants | $ / shares | $ 4.70 | $ 6.04 | $ 4.70 | |||||
Maximum | Common Stock Warrants | ||||||||
Stockholders Equity Note Disclosure [Line Items] | ||||||||
Exercise price per share of warrants | $ / shares | $ 6.04 | $ 6.04 | ||||||
Warrants expiration date | 2025-01 | |||||||
Minimum | Common Stock Warrants | ||||||||
Stockholders Equity Note Disclosure [Line Items] | ||||||||
Exercise price per share of warrants | $ / shares | $ 4.70 | $ 4.70 | ||||||
Warrants expiration date | 2025-01 | |||||||
Employee Stock Option | ||||||||
Stockholders Equity Note Disclosure [Line Items] | ||||||||
Consecutive offering period terms | 3 years 1 month 6 days | |||||||
Stock-based compensation | $ | $ 691,000 | 54,000 | $ 1,242,000 | 95,000 | ||||
Employee stock option expiration period | 10 years | |||||||
Aggregate intrinsic value of options exercised | $ | $ 500,000 | $ 300,000 | $ 600,000 | $ 400,000 | ||||
Employee Stock Option | Maximum | ||||||||
Stockholders Equity Note Disclosure [Line Items] | ||||||||
Employee stock option vesting period | 5 years | |||||||
2015 Equity Incentive Plan | ||||||||
Stockholders Equity Note Disclosure [Line Items] | ||||||||
Maximum aggregate number of shares issued under the plan | 4,433,102 | 4,433,102 | ||||||
Additional aggregate number of shares issued under the plan | 2,205,828 | |||||||
Percentage of common stock outstanding | 5.00% | |||||||
Common stock available for future issuance | 2,181,156 | 2,181,156 | ||||||
Initial Public Offering | ||||||||
Stockholders Equity Note Disclosure [Line Items] | ||||||||
Common stock, shares issued | 5,000,000 | 5,000,000 | 5,000,000 | |||||
Exercise price per share of warrants | $ / shares | $ 4.70 | |||||||
Initial Public Offering | 2015 Equity Incentive Plan | ||||||||
Stockholders Equity Note Disclosure [Line Items] | ||||||||
Percentage of common stock outstanding | 10.00% | |||||||
ESPP | ||||||||
Stockholders Equity Note Disclosure [Line Items] | ||||||||
Shares authorized for future issuance | 441,165 | 441,165 | ||||||
Percentage of eligible compensation subject to plan limitation | 15.00% | 15.00% | ||||||
Consecutive offering period terms | 24 months | |||||||
Number of purchase periods | Peroid | 4 | |||||||
Purchase periods | 6 months | |||||||
Purchase price of common stock as percentage of fair market value | 85.00% | |||||||
Stock-based compensation | $ | $ 18,000 | $ 18,000 | ||||||
Number of shares issued under ESPP | 0 | 0 | ||||||
Series Alpha preferred stock and Series Alpha -1 preferred stock | ||||||||
Stockholders Equity Note Disclosure [Line Items] | ||||||||
Stock conversion ratio | 1.00% | |||||||
Series Beta Preferred Stock | ||||||||
Stockholders Equity Note Disclosure [Line Items] | ||||||||
Preferred stock, shares outstanding | 241,469 | |||||||
Common Stock | Series Alpha preferred stock and Series Alpha -1 preferred stock | ||||||||
Stockholders Equity Note Disclosure [Line Items] | ||||||||
Convertible preferred stock converted into common stock | 8,353,748 | |||||||
Common Stock | Series Beta Preferred Stock | ||||||||
Stockholders Equity Note Disclosure [Line Items] | ||||||||
Convertible preferred stock converted into common stock | 525,109 |
Stockholders' Equity - Summary
Stockholders' Equity - Summary of Stock Option Activity Plans (Details) - USD ($) $ / shares in Units, $ in Thousands | 6 Months Ended | 12 Months Ended |
Jul. 31, 2015 | Jan. 31, 2015 | |
Number of Shares Underlying Outstanding Options | ||
Number of Shares Underlying Outstanding Options, beginning balance | 1,893,239 | |
Number of Shares Underlying Outstanding Options, Options granted | 355,448 | |
Number of Shares Underlying Outstanding Options, Options exercised | (48,758) | |
Number of Shares Underlying Outstanding Options, Options canceled | (14,911) | |
Number of Shares Underlying Outstanding Options, Ending balance | 2,185,018 | 1,893,239 |
Number of Shares Underlying Outstanding Options, Vested and exercisable | 596,737 | |
Number of Shares Underlying Outstanding Options, Vested and expected to vest | 1,989,485 | |
Weighted Average Exercise Price | ||
Weighted Average Exercise Price, Beginning balance | $ 3.85 | |
Weighted Average Exercise Price, Options granted | 13.17 | |
Weighted Average Exercise Price, Options exercised | 0.38 | |
Weighted Average Exercise Price, Options canceled | 4.38 | |
Weighted Average Exercise Price, Ending balance | 5.44 | $ 3.85 |
Weighted Average Exercise Price, Vested and exercisable | 0.63 | |
Weighted Average Exercise Price, Vested and expected to vest | $ 4.19 | |
Weighted Average Remaining Contractual Term | ||
Weighted Average Remaining Contractual Term | 8 years 3 months 4 days | 8 years 4 months 24 days |
Weighted Average Remaining Contractual Term, Vested and exercisable | 5 years 2 months 23 days | |
Weighted Average Remaining Contractual Term, Vested and expected to vest | 8 years 2 months 5 days | |
Aggregate Intrinsic Value | ||
Aggregate Intrinsic Value, Beginning balance | $ 10,109 | |
Aggregate Intrinsic Value, Ending balance | 16,899 | $ 10,109 |
Aggregate Intrinsic Value, Vested and exercisable | 7,193 | |
Aggregate Intrinsic Value, Vested and expected to vest | $ 15,470 |
Stockholders' Equity - Summar45
Stockholders' Equity - Summary of RSU activity (Details) - Restricted Stock Units (RSUs) - $ / shares | 6 Months Ended |
Jul. 31, 2015 | |
Number of Shares issued under the 2015 Plan | |
Shares issued | |
Number of Shares issued, RSUs granted | 67,305 |
Number of Shares issued, RSUs Ending Balance | 67,305 |
Weighted-Average Grant-Date Fair Value Per Share | |
Weighted-Average Grant-Date Fair Value Per Share, Beginning Balance | |
Weighted-Average Grant-Date Fair Value Per Share, RSUs granted | $ 13 |
Weighted-Average Grant-Date Fair Value Per Share, Endinning Balance | $ 13 |
Stockholders' Equity - Summar46
Stockholders' Equity - Summary of Warrants to Purchase Common Stock Activity (Details) - Common Stock Warrants | 6 Months Ended |
Jul. 31, 2015shares | |
Class Of Warrant Or Right [Line Items] | |
Common Warrants Outstanding, Beginning Balance | 87,828 |
Add: Conversion of Preferred Series Alpha warrants to common warrants on IPO | 87,325 |
Less: Common warrants exercised to common stock | (9,152) |
Less: Common warrants terminated | (2,046) |
Common Warrants Outstanding, Endinning Balance | 163,955 |
Stock-Based Compensation - Tota
Stock-Based Compensation - Total Stock-Based Compensation Recognized for Stock-Based Awards in Condensed Consolidated Statements of Operations (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jul. 31, 2015 | Jul. 31, 2014 | Jul. 31, 2015 | Jul. 31, 2014 | |
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items] | ||||
Stock-based compensation | $ 738 | $ 54 | $ 1,289 | $ 95 |
Cost of revenue | ||||
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items] | ||||
Stock-based compensation | 65 | 5 | 123 | 9 |
Research and development | ||||
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items] | ||||
Stock-based compensation | 73 | 7 | 129 | 12 |
Sales and marketing | ||||
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items] | ||||
Stock-based compensation | 239 | 23 | 456 | 38 |
General and administrative | ||||
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items] | ||||
Stock-based compensation | $ 361 | $ 19 | $ 581 | $ 36 |
Stock-Based Compensation - Stoc
Stock-Based Compensation - Stock-Based Compensation Expense by Award Type (Details) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jul. 31, 2015 | Jul. 31, 2014 | Jul. 31, 2015 | Jul. 31, 2014 | |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||
Stock-based compensation | $ 738,000 | $ 54,000 | $ 1,289,000 | $ 95,000 |
Employee Stock Option | ||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||
Stock-based compensation | 691,000 | $ 54,000 | 1,242,000 | $ 95,000 |
Restricted Stock Units | ||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||
Stock-based compensation | 29,000 | 29,000 | ||
ESPP | ||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||
Stock-based compensation | $ 18,000 | $ 18,000 |
Stock-Based Compensation - Addi
Stock-Based Compensation - Additional Information (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | |||
Jul. 31, 2015 | Jul. 31, 2014 | Jul. 31, 2015 | Jul. 31, 2014 | Jan. 31, 2015 | |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||||
Non employee stock options outstanding | 87,199 | 13,064 | 87,199 | 13,064 | |
Common stock, shares, Issued | 0 | 26,393 | 0 | 63,893 | |
Accrued expenses and other long-term liabilities | $ 0.3 | $ 0.3 | $ 0.3 | ||
Employee Stock Option | |||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||||
Unrecognized share-based compensation expense related to non-vested stock option grants | 7.6 | $ 7.6 | |||
Stock-based compensation expenses recognized on straight line basis offering period | 3 years 1 month 6 days | ||||
Restricted Stock Units (RSUs) | |||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||||
Unrecognized share-based compensation expense related to non-vested stock option grants | 0.8 | $ 0.8 | |||
Stock-based compensation expenses recognized on straight line basis offering period | 1 year | ||||
ESPP | |||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||||
Unrecognized share-based compensation expense related to non-vested stock option grants | $ 1 | $ 1 | |||
Stock-based compensation expenses recognized on straight line basis offering period | 1 year 4 months 24 days |
Stock-Based Compensation - Assu
Stock-Based Compensation - Assumptions Used to Estimate Fair Value of Employee Stock Options Grants Using Black-Scholes Option Pricing Model (Details) | 3 Months Ended | 6 Months Ended | ||
Jul. 31, 2015 | Jul. 31, 2014 | Jul. 31, 2015 | Jul. 31, 2014 | |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||
Expected volatility, minimum | 66.00% | 70.00% | 66.00% | 70.00% |
Risk-free interest rate, minimum | 0.00% | 0.50% | 0.00% | 0.50% |
Expected volatility, maximum | 70.00% | |||
Risk-free interest rate, maximum | 0.30% | 0.30% | ||
Minimum | ||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||
Expected term (in years) | 1 year 9 months 18 days | 1 year 9 months 18 days | ||
Maximum | ||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||
Expected term (in years) | 1 year | 1 year 10 months 24 days | 1 year 1 month 6 days | 2 years 1 month 6 days |
Employee Stock Option | ||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||
Expected volatility, minimum | 54.00% | 73.00% | 54.00% | 73.00% |
Risk-free interest rate, minimum | 1.70% | 1.90% | 1.60% | 1.80% |
Expected volatility, maximum | 59.00% | 79.00% | 62.00% | 81.00% |
Risk-free interest rate, maximum | 1.90% | 2.00% | 1.90% | 2.00% |
Employee Stock Option | Minimum | ||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||
Expected term (in years) | 5 years 3 months 18 days | 5 years 6 months | 5 years 3 months 18 days | 5 years 6 months |
Employee Stock Option | Maximum | ||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||
Expected term (in years) | 6 years 1 month 6 days | 6 years 1 month 6 days | 6 years 1 month 6 days | 6 years 1 month 6 days |
Stock-Based Compensation - As51
Stock-Based Compensation - Assumptions Used to Estimate Fair Value of ESPP (Details) | 3 Months Ended | 6 Months Ended | ||
Jul. 31, 2015 | Jul. 31, 2014 | Jul. 31, 2015 | Jul. 31, 2014 | |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||
Expected volatility, minimum | 66.00% | 70.00% | 66.00% | 70.00% |
Risk-free interest rate, minimum | 0.00% | 0.50% | 0.00% | 0.50% |
Expected volatility, maximum | 70.00% | |||
Risk-free interest rate, maximum | 0.30% | 0.30% | ||
Minimum | ||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||
Expected term (in years) | 1 year 9 months 18 days | 1 year 9 months 18 days | ||
Maximum | ||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||
Expected term (in years) | 1 year | 1 year 10 months 24 days | 1 year 1 month 6 days | 2 years 1 month 6 days |
ESPP | ||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||
Expected volatility, minimum | 35.00% | 35.00% | ||
Risk-free interest rate, minimum | 0.10% | 0.10% | ||
Expected volatility, maximum | 43.00% | 43.00% | ||
Risk-free interest rate, maximum | 0.70% | 0.70% | ||
ESPP | Minimum | ||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||
Expected term (in years) | 8 months 12 days | 8 months 12 days | ||
ESPP | Maximum | ||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||
Expected term (in years) | 2 years 2 months 12 days | 2 years 2 months 12 days |
Income Taxes - Additional Infor
Income Taxes - Additional Information (Details) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jul. 31, 2015 | Jul. 31, 2014 | Jul. 31, 2015 | Jul. 31, 2014 | |
Income Tax [Line Items] | ||||
Income tax benefit | $ 0 | $ 502,000 | $ 0 | $ 502,000 |
Unrecognized tax benefits | 1,000,000 | |||
Interest expense or penalties related to unrecognized tax benefits | $ 0 | |||
Talkatone | ||||
Income Tax [Line Items] | ||||
Income tax benefit | $ 500,000 | $ 500,000 |
Basic and Diluted Net Loss Pe53
Basic and Diluted Net Loss Per Share - Computation of Basic and Diluted Net Loss Per Share of Common Stock (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jul. 31, 2015 | Jul. 31, 2014 | Jul. 31, 2015 | Jul. 31, 2014 | |
Numerator | ||||
Net loss | $ (3,403) | $ (1,101) | $ (7,338) | $ (602) |
Denominator | ||||
Weighted-average common shares for basic and diluted net loss per share | 4,233,193 | 2,273,007 | 3,422,521 | 2,347,728 |
Basic and diluted net loss per share | $ (0.80) | $ (0.48) | $ (2.14) | $ (0.26) |
Basic and Diluted Net Loss Pe54
Basic and Diluted Net Loss Per Share - Potential Shares of Common Stock Excluded from Diluted Weighted-Average Common Shares Outstanding (Details) - shares | 3 Months Ended | 6 Months Ended | ||
Jul. 31, 2015 | Jul. 31, 2014 | Jul. 31, 2015 | Jul. 31, 2014 | |
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items] | ||||
Potential common shares excluded from diluted net loss per share | 2,919,184 | 10,060,755 | 2,919,184 | 10,060,755 |
ESPP | ||||
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items] | ||||
Potential common shares excluded from diluted net loss per share | 235,097 | 235,097 | ||
Options to purchase common stock | ||||
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items] | ||||
Potential common shares excluded from diluted net loss per share | 2,185,018 | 873,379 | 2,185,018 | 873,379 |
Convertible Preferred Stock | ||||
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items] | ||||
Potential common shares excluded from diluted net loss per share | 8,353,748 | 8,353,748 | ||
Common stock subject to repurchase | ||||
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items] | ||||
Potential common shares excluded from diluted net loss per share | 335,114 | 606,711 | 335,114 | 606,711 |
Warrants to purchase convertible preferred stock | ||||
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items] | ||||
Potential common shares excluded from diluted net loss per share | 192,009 | 192,009 | ||
Warrants to purchase common stock | ||||
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items] | ||||
Potential common shares excluded from diluted net loss per share | 163,955 | 34,908 | 163,955 | 34,908 |
Defined Contribution Plans - Ad
Defined Contribution Plans - Additional Information (Details) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jul. 31, 2015 | Jul. 31, 2014 | Jul. 31, 2015 | Jul. 31, 2014 | |
Compensation And Retirement Disclosure [Abstract] | ||||
Compensation costs | $ 100,000 | $ 37,000 | $ 100,000 | $ 100,000 |
Subsequent Events - Additional
Subsequent Events - Additional Information (Details) | 1 Months Ended | 6 Months Ended | 30 Months Ended | |
Sep. 11, 2015$ / sharesshares | Aug. 31, 2015USD ($)ft² | Jul. 31, 2015$ / sharesshares | Feb. 28, 2018USD ($) | |
Subsequent Event [Line Items] | ||||
Purchase of shares, options, grants in period | 355,448 | |||
Purchase of common stock, options, grants in period, weighted average exercise price | $ / shares | $ 13.17 | |||
Subsequent Event | ||||
Subsequent Event [Line Items] | ||||
Lease duration period | 30 months | |||
Initial monthly base rent | $ | $ 17,482 | |||
Base rent payable | $ | $ 500,000 | |||
Purchase of shares, options, grants in period | 70,000 | |||
Purchase of common stock, options, grants in period, weighted average exercise price | $ / shares | $ 9.53 | |||
Subsequent Event | Palo Alto, California | ||||
Subsequent Event [Line Items] | ||||
Additional lease space agreement | ft² | 6,724 | |||
Restricted Stock Units (RSUs) | ||||
Subsequent Event [Line Items] | ||||
Equity instruments other than options, grants in period | 67,305 | |||
Restricted Stock Units (RSUs) | Subsequent Event | ||||
Subsequent Event [Line Items] | ||||
Equity instruments other than options, grants in period | 914,050 |