Document and Entity Information
Document and Entity Information - shares | 9 Months Ended | |
Oct. 31, 2017 | Nov. 30, 2017 | |
Document And Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Oct. 31, 2017 | |
Document Fiscal Year Focus | 2,018 | |
Document Fiscal Period Focus | Q3 | |
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 | Accelerated Filer | |
Entity Common Stock, Shares Outstanding | 18,986,578 |
CONDENSED CONSOLIDATED BALANCE
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands | Oct. 31, 2017 | Jan. 31, 2017 |
Current assets: | ||
Cash and cash equivalents | $ 4,947 | $ 3,990 |
Short-term investments | 48,574 | 49,211 |
Accounts receivable, net | 3,542 | 4,714 |
Inventories | 6,216 | 5,830 |
Deferred inventory costs | 1,132 | 1,620 |
Prepaid expenses and other current assets | 3,118 | 1,891 |
Total current assets | 67,529 | 67,256 |
Property and equipment, net | 4,527 | 4,176 |
Intangible assets, net | 293 | 537 |
Goodwill | 1,117 | 1,117 |
Other assets | 284 | 252 |
Total assets | 73,750 | 73,338 |
Current liabilities: | ||
Accounts payable | 6,206 | 5,857 |
Accrued expenses | 12,967 | 11,579 |
Deferred revenue | 15,812 | 15,521 |
Total current liabilities | 34,985 | 32,957 |
Other liabilities | 507 | 561 |
Total liabilities | 35,492 | 33,518 |
Commitments and contingencies (Note 5) | ||
Stockholders’ equity: | ||
Preferred stock $0.0001 par value: 10,000,000 shares authorized; none issued and outstanding. | ||
Common stock $0.0001 par value: 100,000,000 shares authorized; 18,979,480 and 17,995,555 shares issued and outstanding on October 31, 2017 and January 31, 2017, respectively. | 2 | 2 |
Additional paid-in capital | 126,296 | 117,639 |
Accumulated other comprehensive loss | (36) | (11) |
Accumulated deficit | (88,004) | (77,810) |
Total stockholders’ equity | 38,258 | 39,820 |
Total liabilities and stockholders’ equity | $ 73,750 | $ 73,338 |
CONDENSED CONSOLIDATED BALANCE3
CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) (Unaudited) - $ / shares | Oct. 31, 2017 | Jan. 31, 2017 |
Statement Of Financial Position [Abstract] | ||
Preferred stock, par value | $ 0.0001 | $ 0.0001 |
Preferred stock, shares authorized | 10,000,000 | 10,000,000 |
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 | 100,000,000 |
Common stock, shares issued | 18,979,480 | 17,995,555 |
Common stock, shares outstanding | 18,979,480 | 17,995,555 |
CONDENSED CONSOLIDATED STATEMEN
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Oct. 31, 2017 | Oct. 31, 2016 | Oct. 31, 2017 | Oct. 31, 2016 | |
Revenue: | ||||
Subscription and services | $ 25,524 | $ 23,179 | $ 74,830 | $ 67,086 |
Product and other | 2,981 | 3,828 | 9,440 | 9,874 |
Total revenue | 28,505 | 27,007 | 84,270 | 76,960 |
Cost of revenue: | ||||
Subscription and services | 7,613 | 7,388 | 23,176 | 22,103 |
Product and other | 3,726 | 4,276 | 11,314 | 11,316 |
Total cost of revenue | 11,339 | 11,664 | 34,490 | 33,419 |
Gross profit | 17,166 | 15,343 | 49,780 | 43,541 |
Operating expenses: | ||||
Sales and marketing | 9,127 | 8,302 | 27,526 | 24,975 |
Research and development | 7,476 | 6,244 | 21,360 | 17,824 |
General and administrative | 3,890 | 3,705 | 11,511 | 11,105 |
Total operating expenses | 20,493 | 18,251 | 60,397 | 53,904 |
Loss from operations | (3,327) | (2,908) | (10,617) | (10,363) |
Other income (expense): | ||||
Interest income, net | 160 | 95 | 418 | 259 |
Other (expense) income, net | (12) | (8) | 5 | (13) |
Net loss | $ (3,179) | $ (2,821) | $ (10,194) | $ (10,117) |
Net loss per share of common stock: | ||||
Basic and diluted | $ (0.17) | $ (0.16) | $ (0.55) | $ (0.58) |
Weighted-average number of shares used in per share amounts: | ||||
Basic and diluted | 18,725,286 | 17,648,251 | 18,407,817 | 17,337,682 |
CONDENSED CONSOLIDATED STATEME5
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Oct. 31, 2017 | Oct. 31, 2016 | Oct. 31, 2017 | Oct. 31, 2016 | |
Statement Of Income And Comprehensive Income [Abstract] | ||||
Net loss | $ (3,179) | $ (2,821) | $ (10,194) | $ (10,117) |
Other comprehensive (loss) income: | ||||
Unrealized (loss) gain on short-term investments | (16) | (24) | (25) | 1 |
Comprehensive loss | $ (3,195) | $ (2,845) | $ (10,219) | $ (10,116) |
CONDENSED CONSOLIDATED STATEME6
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands | 9 Months Ended | |
Oct. 31, 2017 | Oct. 31, 2016 | |
Cash flows from operating activities: | ||
Net loss | $ (10,194) | $ (10,117) |
Adjustments to reconcile net loss to net cash provided by (used in) operating activities: | ||
Stock-based compensation expense | 8,726 | 7,243 |
Depreciation and amortization | 1,604 | 1,320 |
Amortization of intangible assets | 244 | 265 |
Other non-cash expense, net | (3) | |
Changes in operating assets and liabilities: | ||
Accounts receivable, net | 1,172 | 743 |
Inventories | (386) | 419 |
Deferred inventory costs | 488 | 570 |
Prepaid expenses and other assets | (1,233) | (99) |
Accounts payable and other liabilities | 1,707 | (813) |
Deferred revenue | 251 | 296 |
Net cash provided by (used in) operating activities | 2,379 | (176) |
Cash flows from investing activities: | ||
Purchases of short-term investments | (38,898) | (44,178) |
Proceeds from maturity of short-term investments | 37,977 | 20,650 |
Proceeds from sale of short-term investments | 1,350 | 4,366 |
Purchases of property and equipment | (1,747) | (1,146) |
Net cash used in investing activities | (1,318) | (20,308) |
Cash flows from financing activities: | ||
Proceeds from issuance of common stock related to employee stock benefit plans | 1,869 | 1,447 |
Repayment of debt related to capital leases | (628) | |
Payment of acquisition related earn-out | (100) | |
Net cash used in financing activities | (104) | (621) |
Net increase (decrease) in cash and cash equivalents | 957 | (21,105) |
Cash and cash equivalents at beginning of period | 3,990 | 27,413 |
Cash and cash equivalents at end of period | 4,947 | 6,308 |
Restricted stock units | ||
Cash flows from financing activities: | ||
Shares repurchased for tax withholdings on vesting of restricted stock units | $ (1,973) | $ (1,340) |
Description of Business and Sum
Description of Business and Summary of Significant Accounting Policies | 9 Months Ended |
Oct. 31, 2017 | |
Accounting Policies [Abstract] | |
Description of Business and Summary of Significant Accounting Policies | Note 1: Description of Business and Significant Accounting Policies Ooma, Inc. (the “Company”), founded in 2003, 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 solutions. The Company’s communications solutions deliver its proprietary high-definition voice quality, advanced features and integration with mobile devices, at extremely competitive pricing and value. The Company’s platform helps create smart workplaces and homes by providing value-added communications and other connected services and by integrating end-point devices to enable the Internet of Things. The Company’s platform and solutions have the power to provide communications, productivity, automation, monitoring, safety, security and networking infrastructure applications to its users. In November 2017, the Company relocated its corporate headquarters from Palo Alto, California to Sunnyvale, California. Fiscal Year . The Company’s fiscal year ends on January 31. References to fiscal 2018 and fiscal 2017 refer to the fiscal year ending January 31, 2018 and the fiscal year ended January 31, 2017, respectively. 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 Annual Report on Form 10-K for the year ended January 31, 2017. 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 accounts of the Company and its wholly-owned subsidiaries. All intercompany transactions and balances have been eliminated upon consolidation. Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the Company’s condensed consolidated financial statements and notes thereto. Significant estimates include, but are not limited to, those related to revenue recognition, including the allowance for product returns, inventory valuation, valuation of goodwill and intangible assets, regulatory fees and indirect tax accruals, stock-based compensation, income taxes (including valuation allowances) and fair value measurements. Estimates are based on historical experience, where applicable, and other assumptions believed to be reasonable by management. 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. Concentration of Risk Customers who represented 10% or more of the Company's net accounts receivable balance were as follows: As of October 31, January 31, 2017 2017 Customer A * 11% * Represented less than 10% of accounts receivable, net at the end of respective periods. No single customer exceeded 10% of total revenue during the three and nine months ended October 31, 2017 and 2016. Sale of Business Promoter On August 15, 2017, the Company completed the sale of its Business Promoter service to Xedia Networks, Inc. The Company divested Business Promoter to concentrate on its core businesses, Ooma Office and Ooma Telo. The Company did not receive any cash proceeds nor did it recognize any losses or gains from this transaction. The Company is entitled to receive a quarterly earn-out for the next five years up to a maximum of $4.5 million, which will be recorded as a reduction to general and administrative expense in the Company’s consolidated statement of operations. For the third quarter of fiscal 2018, the earn-out recorded by the Company was not material. Significant Accounting Policies There have been no material changes to the Company's significant accounting policies as described in its Annual Report on Form 10-K for the year ended January 31, 2017. Recently Adopted Accounting Standards Going Concern. The Company adopted ASU 2014-15 ( ASC 205 ) , Disclosure of Uncertainties About an Entity’s Ability to Continue as a Going Concern in the first quarter of fiscal 2018. The new standard provides guidance around management’s responsibility to evaluate whether there is substantial doubt about an entity’s ability to continue as a going concern and to provide related footnote disclosures. The adoption of this standard had no impact on the Company’s condensed consolidated financial statements. Stock Compensation. The Company early adopted ASU 2017-09, Compensation — Stock Compensation (Topic 718) , Scope of Modification Accounting in the third quarter of fiscal 2018. The updated standard provides guidance on the changes to the terms or conditions of a share-based payment award that require an entity to apply modification accounting under Topic 718. The adoption of this standard had no impact on the Company’s condensed consolidated financial statements. Recent Accounting Standards Not Yet Adopted Goodwill. In January 2017, the FASB issued ASU 2017-04, Intangibles – Goodwill and Other (Topic 350) that will eliminate the requirement to calculate the implied fair value of goodwill to measure a goodwill impairment charge. Instead, impairment charge will be based on the excess of a reporting unit's carrying amount over its fair value. The guidance is effective for the Company in the first quarter of fiscal 2023. Early adoption is permitted. The Company does not expect the adoption of this guidance to have a material impact on its consolidated financial statements, absent any goodwill impairment. Leases. In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) that requires assets and liabilities arising from leases, including operating leases, to be recognized on the balance sheet. ASU 2016-02 will become effective for the Company in the first quarter of fiscal 2020, and requires adoption using a modified retrospective approach. The Company is currently evaluating the impact of this guidance on its consolidated financial statements. Revenue Recognition Background . In May 2014, the FASB issued ASU 2014-09, ( ), which replaces existing revenue recognition guidance with a comprehensive revenue measurement and recognition standard and expanded disclosure requirements. Topic 606 also includes Subtopic 340-40, , which provides guidance on the recognition of costs related to obtain customer contracts, including sales commissions. Collectively, the Company refers to Topic 606 and Subtopic 340-40 as the “new standard.” The new standard must be adopted by the Company in its fiscal year beginning February 1, 2018. The Company is continuing to evaluate the full impact that the new standard will have on its consolidated financial statements, as discussed below, and believes it is on schedule to conclude its evaluation upon adoption in the first quarter of fiscal 2019. The Company is also in the process of implementing the necessary changes to its accounting policies, processes and internal controls to support the requirements of the new standard. Method of adoption . The Company preliminarily plans to adopt this standard using the full retrospective basis to restate each prior reporting period presented. However, the Company has not yet made a final decision and its ability to adopt using the full retrospective method is dependent upon system readiness for both revenue and commissions and the completion of the analysis of information necessary to restate prior period financial statements. Expected effect on the consolidated financial statements . The new standard will significantly impact the way the Company recognizes its product revenue for sales made through its channel partners, which is currently recognized upon resale by the partners to the end customers (sell-through basis). Upon adoption of the new standard, this practice will change to recognition of revenue upon the initial sale to the partners (sell-in basis). In addition, certain sales incentives will need to be estimated as a reduction to the transaction price at the time product is shipped. The Company has not yet determined whether the impact on revenues will be material for its adjusted consolidated statements of operations or for future periods. The commission accounting under the new standard is significantly different than the Company's current policy. The Company expects to capitalize a significant portion of its sales commissions and other incremental costs to acquire customers, which have historically been expensed as incurred, resulting in a material increase in deferred costs recognized on the consolidated balance sheet. Such capitalized costs will be amortized on a systematic basis over the estimated customer life, which the Company is currently evaluating based on both qualitative and quantitative factors, such as product life cycles and customer attrition. The Company’s final conclusion on the amortization period will affect the classification and magnitude of the deferred costs at each reporting period. The Company does not expect the new standard will have any impact on its net cash provided by or used in operating, investing and financing activities in the consolidated statements of cash flows. |
Fair Value Measurement
Fair Value Measurement | 9 Months Ended |
Oct. 31, 2017 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurement | Note 2: 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) for identical assets or liabilities in active markets. Level 2: Observable prices that are based on inputs not quoted in active markets, but are corroborated by market data. Level 3: Unobservable inputs that are supported by little or no market activity As of October 31, 2017 and January 31, 2017, the Company did not have any financial assets or liabilities classified as Level 3. There were no transfers of financial assets between levels during the nine months ended October 31, 2017 and 2016. The Company’s financial assets that are measured at fair value on a recurring basis by level within the fair value hierarchy were as follows (in thousands): As of October 31, 2017 As of January 31, 2017 Level 1 Level 2 Total Level 1 Level 2 Total Assets: Cash equivalents: Money market funds $ 559 $ — $ 559 $ 951 $ — $ 951 Commercial paper — 1,398 1,398 — — — U.S. agency securities — — — — — — Total cash equivalents $ 559 $ 1,398 $ 1,957 $ 951 $ — $ 951 Cash 2,990 3,039 Total cash and cash equivalents $ 4,947 $ 3,990 Short-term investments: U.S. government securities $ 19,602 $ — $ 19,602 $ 17,798 $ — $ 17,798 Corporate debt securities — 19,436 19,436 — 18,436 18,436 Commercial paper — 5,912 5,912 — 5,386 5,386 U.S. agency securities — 2,744 2,744 — 5,777 5,777 Asset-backed securities — 880 880 — 1,814 1,814 Total short-term investments $ 19,602 $ 28,972 $ 48,574 $ 17,798 $ 31,413 $ 49,211 The carrying value of the Company’s accounts receivable, inventory, accounts payable and other current assets and current liabilities approximates fair value due to short maturities. |
Short-term Investments
Short-term Investments | 9 Months Ended |
Oct. 31, 2017 | |
Investments Debt And Equity Securities [Abstract] | |
Short-term Investments | Note 3: Short-term Investments Short-term investments consisted of the following (in thousands): As of October 31, 2017 Amortized Cost Unrealized Losses Unrealized Gains Fair Value Corporate debt securities $ 19,621 $ (20 ) $ 1 $ 19,602 Commercial paper 19,450 (14 ) — 19,436 U.S. agency securities 5,912 — — 5,912 U.S. government securities 2,746 (2 ) — 2,744 Asset-backed securities 880 — — 880 Total short-term investments $ 48,609 $ (36 ) $ 1 $ 48,574 As of January 31, 2017 Amortized Cost Unrealized Losses Unrealized Gains Fair Value Corporate debt securities $ 18,455 $ (20 ) $ 1 $ 18,436 Commercial paper 5,386 — — 5,386 U.S. agency securities 5,774 — 3 5,777 U.S. government securities 17,793 (2 ) 7 17,798 Asset-backed securities 1,814 — — 1,814 Total short-term investments $ 49,222 $ (22 ) $ 11 $ 49,211 The gross realized gains and losses related to the Company’s short-term investments were not material for the three and nine months ended October 31, 2017 and 2016, respectively. As of October 31, 2017 and January 31, 2017, unrealized losses associated with short-term investments in an unrealized loss position were not material. The Company reviews the individual securities in its portfolio to determine whether a decline in a security’s fair value below the amortized cost basis is other-than-temporary. The cost basis and fair value of short-term investments by contractual maturity were as follows (in thousands): As of October 31, 2017 As of January 31, 2017 Amortized Value Fair Value Amortized Value Fair Value One year or less $ 40,441 $ 40,419 $ 44,806 $ 44,794 Over one year and less than two years 8,168 8,155 4,416 4,417 Total $ 48,609 $ 48,574 $ 49,222 $ 49,211 |
Balance Sheet Components
Balance Sheet Components | 9 Months Ended |
Oct. 31, 2017 | |
Balance Sheet Components [Abstract] | |
Balance Sheet Components | Note 4: Balance Sheet Components The following sections and tables provide details of selected balance sheet items (in thousands): Inventories As of October 31, January 31, 2017 2017 Finished goods $ 5,387 $ 4,847 Raw material 829 983 Total inventory $ 6,216 $ 5,830 Deferred revenue As of October 31, January 31, 2017 2017 Deferred revenue: Subscription and services $ 14,670 $ 13,770 Product and other 1,610 2,260 Total deferred revenue 16,280 16,030 Less: current portion of deferred revenue 15,812 15,521 Deferred revenue, noncurrent portion included in other liabilities $ 468 $ 509 Accrued expenses As of October 31, January 31, 2017 2017 Accrued regulatory fees and taxes $ 5,377 $ 4,315 Accrued payroll and related expenses 3,989 4,546 Accrued professional services 1,197 1,007 Accrued other expenses 2,404 1,711 Total accrued expenses $ 12,967 $ 11,579 |
Commitments and Contingencies
Commitments and Contingencies | 9 Months Ended |
Oct. 31, 2017 | |
Commitments And Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | Note 5: Commitments and Contingencies Leases and purchase commitments The Company leases its facilities under long-term operating leases, which expire at various dates through February 2023 $4.5 million. Rent expense was $1.2 million and $1.6 million for the nine months ended October 31, 2017 and 2016, respectively. As of October 31, 2017, non-cancelable purchase commitments were $1.9 million. Legal proceedings In addition to the litigation matters described below, from time to time, the Company may be involved in a variety of other claims, lawsuits, investigations, and proceedings relating to contractual disputes, intellectual property rights, employment matters, regulatory compliance matters, and other litigation matters relating to various claims that arise in the normal course of business. Defending such proceedings is costly and can impose a significant burden on management and employees, the Company may receive unfavorable preliminary or interim rulings in the course of litigation, and there can be no assurances that favorable final outcomes will be obtained. The Company determines whether an estimated loss from a contingency should be accrued by assessing whether a loss is deemed probable and can be reasonably estimated. The Company assesses its potential liability by analyzing specific litigation and regulatory matters using reasonably available information. The Company develops its views on estimated losses in consultation with inside and outside counsel, which involves a subjective analysis of potential results and outcomes, assuming various combinations of appropriate litigation and settlement strategies. Legal fees are expensed in the period in which they are incurred. Other than the Oregon Tax litigation, Deep Green Wireless Litigation, Securities Litigation and Berks County Litigation, the Company is currently not a party to any material litigation or other proceedings, and as of October 31, 2017, the Company did not have any material accrued liabilities recorded for loss contingencies in its condensed consolidated financial statements. Oregon Tax Litigation On August 30, 2016, the Oregon Department of Revenue (the “DOR”) issued tax assessments against the Company for the Oregon Emergency Communications Tax (the “Tax”), which the DOR alleges Ooma should have collected from its subscribers in Oregon and remitted to the DOR during the period starting on January 1, 2013 and ending on March 31, 2016 (collectively, the “Assessments”). On November 28, 2016, the Company filed a complaint in the Oregon Tax Court, asserting that the Assessments against the Company is in violation of applicable Oregon law and are barred by the United States Constitution, and asking the Oregon Tax Court to abate the Assessments in full (the “Complaint”, and such dispute, the “Oregon Tax Litigation”). On February 10, 2017, the DOR filed an answer to the Complaint, and during April 2017, the Company voluntarily participated in an informal discovery process by providing certain information and documents to the DOR. The Company filed a motion for summary judgment on September 29, 2017. The Company believes that the Commerce Clause of the United States Constitution bars the application of the Tax to the Company, since the Company has no employees, property or other indicia of a “substantial nexus” with the State of Oregon, and therefore the application of the Tax against Ooma and the Assessments are barred by the United States Constitution. The Company will continue to vigorously litigate the Complaint in pursuit of the full abatement of the Assessments. However, litigation is unpredictable and there can be no assurances that the Company will obtain a favorable final outcome or that it will be able to avoid unfavorable preliminary or interim rulings in the course of litigation that may significantly add to the expense of its defense and could result in substantial costs and diversion of resources. Based on the Company’s current knowledge, the Company has determined that the amount of any material loss or range of material losses that is reasonably possible to result from the Oregon Tax Litigation is not estimable. Deep Green Wireless Litigation On June 8, 2016, plaintiff Deep Green Wireless LLC filed a complaint in the U.S. District Court for the Eastern District of Texas against Ooma, Inc., alleging infringement of U.S. Patent No. RE42,714 (the “Deep Green Wireless Patent”, and such litigation, the “Deep Green Wireless Litigation”). The complaint seeks unspecified monetary damages, costs, attorneys’ fees and other appropriate relief. On July 29, 2016, the Company filed its answer, affirmative defenses and counterclaims, on August 2, 2016 the Company filed a motion to transfer the case to the Northern District of California, and on February 21, 2017 magistrate judge Roy S. Payne granted the Company’s motion to transfer the case. District Court Judge Jeffrey S. White of the Northern District of California set the initial case management conference for July 28, 2017. On June 8, 2017, the Company filed a motion with the United States Patent Trial and Appeal Board for inter partes review of the Deep Green Wireless Patent. Based upon the Company’s investigation, the Company does not believe that its products infringe any valid or enforceable claim of the aforementioned patent, and the Company plans to continue vigorously defending against the plaintiff’s claim. However, litigation is unpredictable and there can be no assurances that the Company will obtain a favorable final outcome or that it will be able to avoid unfavorable preliminary or interim rulings in the course of litigation that may significantly add to the expense of its defense and could result in substantial costs and diversion of resources. Based on the Company’s current knowledge, the Company has determined that the amount of any material loss or range of any losses that is reasonably possible to result from the Deep Green Wireless Litigation is not estimable. Securities Litigation On January 14, 2016, Michael Barnett filed a purported stockholder class action in the San Mateo County Superior Court of the State of California (Case No. CIV536959) against the Company, certain of its officers and directors, and certain of the underwriters of our Initial Public Offering on July 17, 2015 (the “IPO”). Since that time two additional purported class actions making substantially the same allegations against the same defendants were filed, and on May 18, 2016, all three complaints were combined into a “consolidated complaint” filed in the same court (the “Securities Litigation”). The consolidated complaint purports to be brought on behalf of all persons who purchased shares of common stock in our IPO in reliance upon the Registration Statement and Prospectus the Company filed with the SEC. The consolidated complaint alleges that the Company and the other defendants violated the Securities Act of 1933, as amended (the “Securities Act”) by issuing the Registration Statement and Prospectus, which the plaintiffs allege contained material misstatements and omissions in violation of Sections 11, 12(a)(2) and 15 of the Securities Act. The plaintiffs seek class certification, compensatory damages, attorneys’ fees and costs, rescission or a rescissory measure of damages, equitable and/or injunctive relief, and such other relief as the court may deem proper. On July 1, 2016, the Company filed its answer to the complaint, on August 26, 2016 the Company filed a motion for judgment on the pleadings, and on January 5, 2017, the Court issued an order in response to such motion, granting the Company’s motion to dismiss the claims pursuant to Sections12(a)(2) and 15 of the Securities Act, with leave to amend, and denying the Company’s motion to dismiss the claims pursuant to Section 11 of the Securities Act. The parties participated in a confidential mediation session on August 4, 2017 that did not result in a resolution of the Securities Litigation. On August 28, 2017, the plaintiffs filed a motion to amend the consolidated complaint, which, among other things, added back in the original claims based on Sections 12(a)(2) and 15 of the Securities Act (The “Section 12 and 15 Claims”). On November 29, 2017, the court dismissed the Section 12 and 15 Claims with prejudice, but denied the Company’s motions to (a) dismiss the amended consolidated case on grounds that state courts lack subject matter jurisdiction to hear federal securities class action claims, and (b) to stay the case pending the United States Supreme Court’s decision in Cyan v. Beaver Cnty. Emp. Ret.‘ Fund Berks County Litigation On January 21, 2016, the County of Berks, Pennsylvania filed a lawsuit in the Berks County Court of Common Pleas naming the Company and 113 other telephone service providers as defendants (the “Berks County Litigation”), alleging breach of fiduciary duty, fraud, and negligent misrepresentation in connection with alleged violations of the Pennsylvania 911 Emergency Communication Services Act, 35 Pa.C.S.A. §5301 et seq. (“PA 911 Act”) for failure to collect from subscribers and remit certain fees pursuant to the PA 911 Act. The plaintiff seeks a declaratory judgment that the Company must comply with the PA 911 Act, compensatory and punitive damages, attorneys’ fees and costs, equitable and/or injunctive relief and such other relief as the court may deem proper. On May 17, 2016, the court issued an order overruling the defendants’ joint preliminary objections, which are, in essence, the Pennsylvania equivalent of a motion to dismiss. Notwithstanding such adverse order, the Company believes that the Commerce Clause of the United States Constitution bars the application of the PA 911 Act to the Company, since the Company has no employees, property or other indicia of a “substantial nexus” with the State of Pennsylvania, and therefore the plaintiff’s claims are without merit. The Company intends to continue vigorously defending this lawsuit. However, litigation is unpredictable and there can be no assurances that the Company will obtain a favorable final outcome or that it will be able to avoid unfavorable preliminary or interim rulings in the course of litigation that may significantly add to the expense of its defense and could result in substantial costs and diversion of resources. Based on the Company’s current knowledge, the Company has determined that the amount of any material loss or range of any losses that is reasonably possible to result from the Berks County Litigation is not estimable. 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 | 9 Months Ended |
Oct. 31, 2017 | |
Equity [Abstract] | |
Stockholders' Equity | Note 6: Stockholders’ Equity 2015 Equity Incentive Plan (“2015 Plan”) T he Company’s 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 (“RSUs”), performance units and performance shares to its employees, directors and consultants and its subsidiary corporations’ employees and consultants. Employee Stock Purchase Plan The Company’s 2015 Employee Stock Purchase Plan (“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 as of the first date or the ending date of each six month offering period. The offering periods are scheduled to start on the first trading day on or after March 15 and September 15 of each year. Under the ESPP, employees purchased 0.3 million shares of common stock during the nine months ended October 31, 2017 at a weighted average purchase price of $5.48 per share. Stock Options The following table summarizes the Company’s stock option activities for the nine months ended October 31, 2017: Options Outstanding Number of Weighted Shares Weighted Average Aggregate Underlying Average Remaining Intrinsic Outstanding Exercise Contractual Term Value Options Price (Years) (in thousands) Balance as of January 31, 2017 1,777,365 $ 5.74 7.0 $ 7,864 Options granted 122,750 10.21 Options exercised (59,819 ) 4.19 Options canceled (27,406 ) 5.89 Balance as of October 31, 2017 1,812,890 $ 6.09 6.5 $ 8,729 Vested and exercisable, October 31, 2017 1,405,829 $ 5.31 6.1 $ 7,760 Vested and expected to vest, October 31, 2017 1,812,890 $ 6.09 6.5 $ 8,729 The aggregate intrinsic value of options exercised was $0.3 million and $1.3 million for the nine months ended October 31, 2017 and 2016, respectively. During the nine months ended October 31, 2017, the Company issued approximately 35,000 shares of common stock following the exercise of employee stock options prior to their vesting dates (or “early exercises”). The amounts received from early exercises are initially recorded as a liability and reclassified to stockholders’ equity as the options vest. Unvested shares are subject to the Company’s right to repurchase at the original purchase price, which lapses over the vesting term of the original option grant. As of October 31, 2017 and January 31, 2017, the Company recorded $0.1 million as a liability for proceeds from early exercises. During the nine months ended October 31, 2017 no common stock options were exercised prior to their vesting dates. Restricted Stock Units The following table summarizes the Company’s RSUs activities for the nine months ended October 31, 2017: Number of Shares Weighted-Average Grant-Date Fair Value Per Share Weighted-Average Remaining Contractual Life (Years) Aggregate Intrinsic Value (in thousands) Balance as of January 31, 2017 1,859,196 $ 7.65 1.4 $ 17,941 RSUs granted 1,111,605 10.04 RSUs vested (780,104 ) 8.57 RSUs canceled (143,561 ) 6.52 Balance as of October 31, 2017 2,047,136 $ 8.68 1.4 $ 21,492 Vested RSUs included shares of common stock that the Company withheld on behalf of certain employees to satisfy the minimum statutory tax withholding requirements, as defined by the Company. The Company withheld an aggregate amount of $2.0 million and $ 1.3 Common Stock Warrants For the nine months ended October 31, 2017, 38,315 common warrants were exercised net of the respective exercise price per warrant to purchase 19,144 shares of common stock. The remaining common warrants were terminated in the second quarter of fiscal 2018 due to non-exercise per the terms of the warrant agreement. |
Stock-Based Compensation
Stock-Based Compensation | 9 Months Ended |
Oct. 31, 2017 | |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | |
Stock-Based Compensation | Note 7: 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 October 31, Nine Months Ended October 31, 2017 2016 2017 2016 Total cost of revenue $ 251 $ 264 $ 909 $ 742 Sales and marketing 390 348 1,406 1,029 Research and development 1,005 873 3,221 2,680 General and administrative 989 885 3,190 2,792 Total stock-based compensation $ 2,635 $ 2,370 $ 8,726 $ 7,243 The following table presents stock-based compensation expense by award-type (in thousands): Three Months Ended October 31, Nine Months Ended October 31, 2017 2016 2017 2016 Stock options $ 580 $ 563 $ 1,770 $ 1,877 Restricted stock units 1,848 1,594 6,168 4,614 Employee stock purchase plan 207 213 788 752 Total stock-based compensation $ 2,635 $ 2,370 $ 8,726 $ 7,243 As of October 31, 2017, there was $1.7 million, $16.1 million and $0.5 million of unrecognized share-based compensation expense, related to unvested stock option grants, RSUs and ESPP, respectively, which will be recognized on a straight-line basis over the remaining weighted-average vesting periods of approximately 1.7 years, 2.8 years and 0.7 years, respectively. The fair value of employee stock options granted was estimated using the Black–Scholes model with the following assumptions: Three and Nine Months Ended October 31, 2017 Stock Options: Expected volatility 47% Expected term (in years) 6.1 Risk-free interest rate 1.8%-2.1% Dividend yield — % No employee stock options were granted during the nine months ended October 31, 2016. The fair value of ESPP was estimated using the Black–Scholes model with the following assumptions: Three Months Ended October 31, Nine Months Ended October 31, 2017 2016 2017 2016 ESPP: Expected volatility 35%-41% 37%-44% 35%-41% 37%-50% Expected term (in years) 0.5-2.0 0.5-2.0 0.5-2.0 0.5-2.0 Risk-free interest rate 0.9%-1.4% 0.5%-0.7% 0.9%-1.4% 0.5%-1.0% Dividend yield — % — % — % — % |
Income Taxes
Income Taxes | 9 Months Ended |
Oct. 31, 2017 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | Note 8: Income Taxes The Company did not record a provision or benefit for income taxes during the three and nine months ended October 31 , 2017 and As of October 31, 2017, the Company had unrecognized tax benefits of $2.5 million, none of which would currently affect the Company's effective tax rate if recognized due to the Company's deferred tax assets being fully offset by a valuation allowance. The Company does not anticipate that the amount of unrecognized tax benefits relating to tax positions existing at October 31 , 2017 , 2017 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 | 9 Months Ended |
Oct. 31, 2017 | |
Earnings Per Share [Abstract] | |
Basic and Diluted Net Loss Per Share | Note 9: Basic and Diluted Net Loss Per Share Basic and diluted net loss per share is calculated by dividing the net loss 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. 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 October 31, Nine Months Ended October 31, 2017 2016 2017 2016 Numerator Net loss $ (3,179 ) $ (2,821 ) $ (10,194 ) $ (10,117 ) Denominator Weighted-average common shares 18,725,286 17,648,251 18,407,817 17,337,682 Basic and diluted net loss per share $ (0.17 ) $ (0.16 ) $ (0.55 ) $ (0.58 ) The following potentially dilutive common shares were excluded from diluted weighted-average common shares outstanding as the effect would have been anti-dilutive Three and Nine Months Ended October 31, 2017 2016 Options to purchase common stock 1,812,890 1,796,127 Employee stock purchase plan 274,339 339,543 Restricted stock units 2,047,136 1,901,233 Warrants to purchase common stock — 97,931 Common stock subject to repurchase 18,812 66,439 Potential shares excluded from diluted net loss per share 4,153,177 4,201,273 |
Defined Contribution Plans
Defined Contribution Plans | 9 Months Ended |
Oct. 31, 2017 | |
Compensation And Retirement Disclosure [Abstract] | |
Defined Contribution Plans | Note 10: 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 for each of the three months ended October 31, 2017 and 2016, respectively, and $0.4 million and $0.3 million for the nine months ended October 31, 2017 and 2016, respectively. |
Related Party Transaction
Related Party Transaction | 9 Months Ended |
Oct. 31, 2017 | |
Related Party Transactions [Abstract] | |
Related Party Transaction | Note 11: Related Party Transaction One of the Company’s board members is affiliated with a professional firm that provides public relations services to the Company. The Company incurred expenses of approximately $0.1 million for each of the three months ended October 31, 2017 and 2016, respectively, and $0.1 million and $0.3 million for the nine months ended October 31, 2017 and 2016, respectively, for the services provided by the firm. |
Description of Business and S18
Description of Business and Summary of Significant Accounting Policies (Policies) | 9 Months Ended |
Oct. 31, 2017 | |
Accounting Policies [Abstract] | |
Fiscal Year | Fiscal Year . The Company’s fiscal year ends on January 31. References to fiscal 2018 and fiscal 2017 refer to the fiscal year ending January 31, 2018 and the fiscal year ended January 31, 2017, respectively. |
Basis of Presentation | 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 Annual Report on Form 10-K for the year ended January 31, 2017. 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 accounts of the Company and its wholly-owned subsidiaries. All intercompany transactions and balances have been eliminated upon consolidation. |
Use of Estimates | Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the Company’s condensed consolidated financial statements and notes thereto. Significant estimates include, but are not limited to, those related to revenue recognition, including the allowance for product returns, inventory valuation, valuation of goodwill and intangible assets, regulatory fees and indirect tax accruals, stock-based compensation, income taxes (including valuation allowances) and fair value measurements. Estimates are based on historical experience, where applicable, and other assumptions believed to be reasonable by management. 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. |
Concentration of Credit Risk | Concentration of Risk Customers who represented 10% or more of the Company's net accounts receivable balance were as follows: As of October 31, January 31, 2017 2017 Customer A * 11% * Represented less than 10% of accounts receivable, net at the end of respective periods. No single customer exceeded 10% of total revenue during the three and nine months ended October 31, 2017 and 2016. |
Sale of Business Promoter | Sale of Business Promoter On August 15, 2017, the Company completed the sale of its Business Promoter service to Xedia Networks, Inc. The Company divested Business Promoter to concentrate on its core businesses, Ooma Office and Ooma Telo. The Company did not receive any cash proceeds nor did it recognize any losses or gains from this transaction. The Company is entitled to receive a quarterly earn-out for the next five years up to a maximum of $4.5 million, which will be recorded as a reduction to general and administrative expense in the Company’s consolidated statement of operations. For the third quarter of fiscal 2018, the earn-out recorded by the Company was not material. |
Recently Adopted Accounting Standards | Recently Adopted Accounting Standards Going Concern. The Company adopted ASU 2014-15 ( ASC 205 ) , Disclosure of Uncertainties About an Entity’s Ability to Continue as a Going Concern in the first quarter of fiscal 2018. The new standard provides guidance around management’s responsibility to evaluate whether there is substantial doubt about an entity’s ability to continue as a going concern and to provide related footnote disclosures. The adoption of this standard had no impact on the Company’s condensed consolidated financial statements. Stock Compensation. The Company early adopted ASU 2017-09, Compensation — Stock Compensation (Topic 718) , Scope of Modification Accounting in the third quarter of fiscal 2018. The updated standard provides guidance on the changes to the terms or conditions of a share-based payment award that require an entity to apply modification accounting under Topic 718. The adoption of this standard had no impact on the Company’s condensed consolidated financial statements. |
Recent Accounting Standards Not Yet Adopted | Recent Accounting Standards Not Yet Adopted Goodwill. In January 2017, the FASB issued ASU 2017-04, Intangibles – Goodwill and Other (Topic 350) that will eliminate the requirement to calculate the implied fair value of goodwill to measure a goodwill impairment charge. Instead, impairment charge will be based on the excess of a reporting unit's carrying amount over its fair value. The guidance is effective for the Company in the first quarter of fiscal 2023. Early adoption is permitted. The Company does not expect the adoption of this guidance to have a material impact on its consolidated financial statements, absent any goodwill impairment. Leases. In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) that requires assets and liabilities arising from leases, including operating leases, to be recognized on the balance sheet. ASU 2016-02 will become effective for the Company in the first quarter of fiscal 2020, and requires adoption using a modified retrospective approach. The Company is currently evaluating the impact of this guidance on its consolidated financial statements. Revenue Recognition Background . In May 2014, the FASB issued ASU 2014-09, ( ), which replaces existing revenue recognition guidance with a comprehensive revenue measurement and recognition standard and expanded disclosure requirements. Topic 606 also includes Subtopic 340-40, , which provides guidance on the recognition of costs related to obtain customer contracts, including sales commissions. Collectively, the Company refers to Topic 606 and Subtopic 340-40 as the “new standard.” The new standard must be adopted by the Company in its fiscal year beginning February 1, 2018. The Company is continuing to evaluate the full impact that the new standard will have on its consolidated financial statements, as discussed below, and believes it is on schedule to conclude its evaluation upon adoption in the first quarter of fiscal 2019. The Company is also in the process of implementing the necessary changes to its accounting policies, processes and internal controls to support the requirements of the new standard. Method of adoption . The Company preliminarily plans to adopt this standard using the full retrospective basis to restate each prior reporting period presented. However, the Company has not yet made a final decision and its ability to adopt using the full retrospective method is dependent upon system readiness for both revenue and commissions and the completion of the analysis of information necessary to restate prior period financial statements. Expected effect on the consolidated financial statements . The new standard will significantly impact the way the Company recognizes its product revenue for sales made through its channel partners, which is currently recognized upon resale by the partners to the end customers (sell-through basis). Upon adoption of the new standard, this practice will change to recognition of revenue upon the initial sale to the partners (sell-in basis). In addition, certain sales incentives will need to be estimated as a reduction to the transaction price at the time product is shipped. The Company has not yet determined whether the impact on revenues will be material for its adjusted consolidated statements of operations or for future periods. The commission accounting under the new standard is significantly different than the Company's current policy. The Company expects to capitalize a significant portion of its sales commissions and other incremental costs to acquire customers, which have historically been expensed as incurred, resulting in a material increase in deferred costs recognized on the consolidated balance sheet. Such capitalized costs will be amortized on a systematic basis over the estimated customer life, which the Company is currently evaluating based on both qualitative and quantitative factors, such as product life cycles and customer attrition. The Company’s final conclusion on the amortization period will affect the classification and magnitude of the deferred costs at each reporting period. The Company does not expect the new standard will have any impact on its net cash provided by or used in operating, investing and financing activities in the consolidated statements of cash flows. |
Description of Business and S19
Description of Business and Summary of Significant Accounting Policies (Tables) | 9 Months Ended |
Oct. 31, 2017 | |
Accounting Policies [Abstract] | |
Concentration of Net Accounts Receivable Balance | Customers who represented 10% or more of the Company's net accounts receivable balance were as follows: As of October 31, January 31, 2017 2017 Customer A * 11% * Represented less than 10% of accounts receivable, net at the end of respective periods. |
Fair Value Measurement (Tables)
Fair Value Measurement (Tables) | 9 Months Ended |
Oct. 31, 2017 | |
Fair Value Disclosures [Abstract] | |
Schedule of Financial Assets at Fair Value | The Company’s financial assets that are measured at fair value on a recurring basis by level within the fair value hierarchy were as follows (in thousands): As of October 31, 2017 As of January 31, 2017 Level 1 Level 2 Total Level 1 Level 2 Total Assets: Cash equivalents: Money market funds $ 559 $ — $ 559 $ 951 $ — $ 951 Commercial paper — 1,398 1,398 — — — U.S. agency securities — — — — — — Total cash equivalents $ 559 $ 1,398 $ 1,957 $ 951 $ — $ 951 Cash 2,990 3,039 Total cash and cash equivalents $ 4,947 $ 3,990 Short-term investments: U.S. government securities $ 19,602 $ — $ 19,602 $ 17,798 $ — $ 17,798 Corporate debt securities — 19,436 19,436 — 18,436 18,436 Commercial paper — 5,912 5,912 — 5,386 5,386 U.S. agency securities — 2,744 2,744 — 5,777 5,777 Asset-backed securities — 880 880 — 1,814 1,814 Total short-term investments $ 19,602 $ 28,972 $ 48,574 $ 17,798 $ 31,413 $ 49,211 |
Short-term Investments (Tables)
Short-term Investments (Tables) - Short-term Investments | 9 Months Ended |
Oct. 31, 2017 | |
Schedule Of Available For Sale Securities [Line Items] | |
Summary of Short-term Investments | Short-term investments consisted of the following (in thousands): As of October 31, 2017 Amortized Cost Unrealized Losses Unrealized Gains Fair Value Corporate debt securities $ 19,621 $ (20 ) $ 1 $ 19,602 Commercial paper 19,450 (14 ) — 19,436 U.S. agency securities 5,912 — — 5,912 U.S. government securities 2,746 (2 ) — 2,744 Asset-backed securities 880 — — 880 Total short-term investments $ 48,609 $ (36 ) $ 1 $ 48,574 As of January 31, 2017 Amortized Cost Unrealized Losses Unrealized Gains Fair Value Corporate debt securities $ 18,455 $ (20 ) $ 1 $ 18,436 Commercial paper 5,386 — — 5,386 U.S. agency securities 5,774 — 3 5,777 U.S. government securities 17,793 (2 ) 7 17,798 Asset-backed securities 1,814 — — 1,814 Total short-term investments $ 49,222 $ (22 ) $ 11 $ 49,211 |
Schedule of Cost Basis and Fair Value of Short-term Investments by Contractual Maturity | The cost basis and fair value of short-term investments by contractual maturity were as follows (in thousands): As of October 31, 2017 As of January 31, 2017 Amortized Value Fair Value Amortized Value Fair Value One year or less $ 40,441 $ 40,419 $ 44,806 $ 44,794 Over one year and less than two years 8,168 8,155 4,416 4,417 Total $ 48,609 $ 48,574 $ 49,222 $ 49,211 |
Balance Sheet Components (Table
Balance Sheet Components (Tables) | 9 Months Ended |
Oct. 31, 2017 | |
Balance Sheet Components [Abstract] | |
Components of Inventories | Inventories As of October 31, January 31, 2017 2017 Finished goods $ 5,387 $ 4,847 Raw material 829 983 Total inventory $ 6,216 $ 5,830 |
Components of Deferred Revenue | Deferred revenue As of October 31, January 31, 2017 2017 Deferred revenue: Subscription and services $ 14,670 $ 13,770 Product and other 1,610 2,260 Total deferred revenue 16,280 16,030 Less: current portion of deferred revenue 15,812 15,521 Deferred revenue, noncurrent portion included in other liabilities $ 468 $ 509 |
Components of Accrued Expenses | Accrued expenses As of October 31, January 31, 2017 2017 Accrued regulatory fees and taxes $ 5,377 $ 4,315 Accrued payroll and related expenses 3,989 4,546 Accrued professional services 1,197 1,007 Accrued other expenses 2,404 1,711 Total accrued expenses $ 12,967 $ 11,579 |
Stockholders' Equity (Tables)
Stockholders' Equity (Tables) | 9 Months Ended |
Oct. 31, 2017 | |
Equity [Abstract] | |
Summarizes of Stock Option Activities | The following table summarizes the Company’s stock option activities for the nine months ended October 31, 2017: Options Outstanding Number of Weighted Shares Weighted Average Aggregate Underlying Average Remaining Intrinsic Outstanding Exercise Contractual Term Value Options Price (Years) (in thousands) Balance as of January 31, 2017 1,777,365 $ 5.74 7.0 $ 7,864 Options granted 122,750 10.21 Options exercised (59,819 ) 4.19 Options canceled (27,406 ) 5.89 Balance as of October 31, 2017 1,812,890 $ 6.09 6.5 $ 8,729 Vested and exercisable, October 31, 2017 1,405,829 $ 5.31 6.1 $ 7,760 Vested and expected to vest, October 31, 2017 1,812,890 $ 6.09 6.5 $ 8,729 |
Summarizes of Restricted Stock Units Activities | The following table summarizes the Company’s RSUs activities for the nine months ended October 31, 2017: Number of Shares Weighted-Average Grant-Date Fair Value Per Share Weighted-Average Remaining Contractual Life (Years) Aggregate Intrinsic Value (in thousands) Balance as of January 31, 2017 1,859,196 $ 7.65 1.4 $ 17,941 RSUs granted 1,111,605 10.04 RSUs vested (780,104 ) 8.57 RSUs canceled (143,561 ) 6.52 Balance as of October 31, 2017 2,047,136 $ 8.68 1.4 $ 21,492 |
Stock-Based Compensation (Table
Stock-Based Compensation (Tables) | 9 Months Ended |
Oct. 31, 2017 | |
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 October 31, Nine Months Ended October 31, 2017 2016 2017 2016 Total cost of revenue $ 251 $ 264 $ 909 $ 742 Sales and marketing 390 348 1,406 1,029 Research and development 1,005 873 3,221 2,680 General and administrative 989 885 3,190 2,792 Total stock-based compensation $ 2,635 $ 2,370 $ 8,726 $ 7,243 |
Stock-Based Compensation Expense by Award Type | The following table presents stock-based compensation expense by award-type (in thousands): Three Months Ended October 31, Nine Months Ended October 31, 2017 2016 2017 2016 Stock options $ 580 $ 563 $ 1,770 $ 1,877 Restricted stock units 1,848 1,594 6,168 4,614 Employee stock purchase plan 207 213 788 752 Total stock-based compensation $ 2,635 $ 2,370 $ 8,726 $ 7,243 |
ESPP | |
Stock Options Valuation Assumptions Used to Calculate the Fair Value of Warrants | The fair value of ESPP was estimated using the Black–Scholes model with the following assumptions: Three Months Ended October 31, Nine Months Ended October 31, 2017 2016 2017 2016 ESPP: Expected volatility 35%-41% 37%-44% 35%-41% 37%-50% Expected term (in years) 0.5-2.0 0.5-2.0 0.5-2.0 0.5-2.0 Risk-free interest rate 0.9%-1.4% 0.5%-0.7% 0.9%-1.4% 0.5%-1.0% Dividend yield — % — % — % — % |
Stock Options | |
Stock Options Valuation Assumptions Used to Calculate the Fair Value of Warrants | The fair value of employee stock options granted was estimated using the Black–Scholes model with the following assumptions: Three and Nine Months Ended October 31, 2017 Stock Options: Expected volatility 47% Expected term (in years) 6.1 Risk-free interest rate 1.8%-2.1% Dividend yield — % |
Basic and Diluted Net Loss Pe25
Basic and Diluted Net Loss Per Share (Tables) | 9 Months Ended |
Oct. 31, 2017 | |
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 October 31, Nine Months Ended October 31, 2017 2016 2017 2016 Numerator Net loss $ (3,179 ) $ (2,821 ) $ (10,194 ) $ (10,117 ) Denominator Weighted-average common shares 18,725,286 17,648,251 18,407,817 17,337,682 Basic and diluted net loss per share $ (0.17 ) $ (0.16 ) $ (0.55 ) $ (0.58 ) |
Potential Shares of Common Stock Excluded from Diluted Weighted-Average Common Shares Outstanding | The following potentially dilutive common shares were excluded from diluted weighted-average common shares outstanding as the effect would have been anti-dilutive Three and Nine Months Ended October 31, 2017 2016 Options to purchase common stock 1,812,890 1,796,127 Employee stock purchase plan 274,339 339,543 Restricted stock units 2,047,136 1,901,233 Warrants to purchase common stock — 97,931 Common stock subject to repurchase 18,812 66,439 Potential shares excluded from diluted net loss per share 4,153,177 4,201,273 |
Description of Business and S26
Description of Business and Summary of Significant Accounting Policies - Concentration of Net Accounts Receivable Balance (Details) | 12 Months Ended |
Jan. 31, 2017 | |
Accounts Receivable | Customer Concentration Risk | Customer A | |
Concentration Risk [Line Items] | |
Concentration risk percentage | 11.00% |
Description of Business and S27
Description of Business and Summary of Significant Accounting Policies - Additional Information (Details) | Aug. 15, 2017USD ($) | Oct. 31, 2017Customer | Oct. 31, 2016Customer | Oct. 31, 2017Customer | Oct. 31, 2016Customer |
Summary Of Significant Accounting Policies [Line Items] | |||||
Number of customers that individually exceeded 10% of revenue | Customer | 0 | 0 | 0 | 0 | |
Business Promoter | Xedia Networks, Inc. | |||||
Summary Of Significant Accounting Policies [Line Items] | |||||
Proceeds from disposition of business | $ 0 | ||||
Quarterly earn-out payment receivable, maximum | $ 4,500,000 | ||||
Quarterly earn-out payment receivable period | 5 years |
Fair Value Measurement - Additi
Fair Value Measurement - Additional Information (Details) - USD ($) | Oct. 31, 2017 | Jan. 31, 2017 |
Fair Value Disclosures [Line Items] | ||
Financial assets, level 2 to level 1 transfers, amount | $ 0 | $ 0 |
Financial assets, level 1 to level 2 transfers, amount | 0 | 0 |
Level 3 | ||
Fair Value Disclosures [Line Items] | ||
Financial assets | 0 | 0 |
Financial liabilities | $ 0 | $ 0 |
Fair Value Measurement - Schedu
Fair Value Measurement - Schedule of Financial Assets at Fair Value (Details) - USD ($) $ in Thousands | Oct. 31, 2017 | Jan. 31, 2017 |
Assets: | ||
Total cash and cash equivalents | $ 4,947 | $ 3,990 |
Total short-term investments | 48,574 | 49,211 |
Commercial Paper | ||
Assets: | ||
Total short-term investments | 5,912 | 5,386 |
U.S. Agency Securities | ||
Assets: | ||
Total short-term investments | 2,744 | 5,777 |
Corporate Debt Securities | ||
Assets: | ||
Total short-term investments | 19,436 | 18,436 |
U.S. Government Securities | ||
Assets: | ||
Total short-term investments | 19,602 | 17,798 |
Asset-backed Securities | ||
Assets: | ||
Total short-term investments | 880 | 1,814 |
Level 1 | ||
Assets: | ||
Total short-term investments | 19,602 | 17,798 |
Level 1 | U.S. Government Securities | ||
Assets: | ||
Total short-term investments | 19,602 | 17,798 |
Level 2 | ||
Assets: | ||
Total short-term investments | 28,972 | 31,413 |
Level 2 | Commercial Paper | ||
Assets: | ||
Total short-term investments | 5,912 | 5,386 |
Level 2 | U.S. Agency Securities | ||
Assets: | ||
Total short-term investments | 2,744 | 5,777 |
Level 2 | Corporate Debt Securities | ||
Assets: | ||
Total short-term investments | 19,436 | 18,436 |
Level 2 | Asset-backed Securities | ||
Assets: | ||
Total short-term investments | 880 | 1,814 |
Cash Equivalents | ||
Assets: | ||
Total cash and cash equivalents | 1,957 | 951 |
Cash Equivalents | Commercial Paper | ||
Assets: | ||
Total cash and cash equivalents | 1,398 | |
Cash Equivalents | Money Market Funds | ||
Assets: | ||
Total cash and cash equivalents | 559 | 951 |
Cash Equivalents | Level 1 | ||
Assets: | ||
Total cash and cash equivalents | 559 | 951 |
Cash Equivalents | Level 1 | Money Market Funds | ||
Assets: | ||
Total cash and cash equivalents | 559 | 951 |
Cash Equivalents | Level 2 | ||
Assets: | ||
Total cash and cash equivalents | 1,398 | |
Cash Equivalents | Level 2 | Commercial Paper | ||
Assets: | ||
Total cash and cash equivalents | 1,398 | |
Cash | ||
Assets: | ||
Total cash and cash equivalents | $ 2,990 | $ 3,039 |
Short-term Investments - Summar
Short-term Investments - Summary of Short-term Investment (Details) - Short-term Investments - USD ($) $ in Thousands | Oct. 31, 2017 | Jan. 31, 2017 |
Schedule Of Available For Sale Securities [Line Items] | ||
Short-term Investments, Amortized Cost | $ 48,609 | $ 49,222 |
Short-term Investments, Unrealized Losses | (36) | (22) |
Short-term Investments, Unrealized Gains | 1 | 11 |
Short-term Investments, Fair Value | 48,574 | 49,211 |
Corporate Debt Securities | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Short-term Investments, Amortized Cost | 19,621 | 18,455 |
Short-term Investments, Unrealized Losses | (20) | (20) |
Short-term Investments, Unrealized Gains | 1 | 1 |
Short-term Investments, Fair Value | 19,602 | 18,436 |
Commercial Paper | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Short-term Investments, Amortized Cost | 19,450 | 5,386 |
Short-term Investments, Unrealized Losses | (14) | |
Short-term Investments, Fair Value | 19,436 | 5,386 |
U.S. Agency Securities | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Short-term Investments, Amortized Cost | 5,912 | 5,774 |
Short-term Investments, Unrealized Gains | 3 | |
Short-term Investments, Fair Value | 5,912 | 5,777 |
U.S. Government Securities | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Short-term Investments, Amortized Cost | 2,746 | 17,793 |
Short-term Investments, Unrealized Losses | (2) | (2) |
Short-term Investments, Unrealized Gains | 7 | |
Short-term Investments, Fair Value | 2,744 | 17,798 |
Asset-backed Securities | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Short-term Investments, Amortized Cost | 880 | 1,814 |
Short-term Investments, Fair Value | $ 880 | $ 1,814 |
Short-term Investments - Schedu
Short-term Investments - Schedule of Cost Basis and Fair Value of Short-term Investments by Contractual Maturity (Details) - Short-term Investments - USD ($) $ in Thousands | Oct. 31, 2017 | Jan. 31, 2017 |
Schedule Of Available For Sale Securities [Line Items] | ||
One year or less, amortized cost | $ 40,441 | $ 44,806 |
Over one year and less than two years, amortized cost | 8,168 | 4,416 |
Short-term Investments, Amortized Cost | 48,609 | 49,222 |
One year or less, fair value | 40,419 | 44,794 |
Over one year and less than two years, fair value | 8,155 | 4,417 |
Short-term Investments, Fair Value | $ 48,574 | $ 49,211 |
Balance Sheet Components - Comp
Balance Sheet Components - Components of Inventories (Details) - USD ($) $ in Thousands | Oct. 31, 2017 | Jan. 31, 2017 |
Inventory Disclosure [Abstract] | ||
Finished goods | $ 5,387 | $ 4,847 |
Raw material | 829 | 983 |
Total inventory | $ 6,216 | $ 5,830 |
Balance Sheet Components - Co33
Balance Sheet Components - Components of Deferred Revenue (Details) - USD ($) $ in Thousands | Oct. 31, 2017 | Jan. 31, 2017 |
Deferred Revenue Arrangement [Line Items] | ||
Deferred revenue | $ 16,280 | $ 16,030 |
Less: current portion of deferred revenue | 15,812 | 15,521 |
Deferred revenue, noncurrent portion included in other liabilities | 468 | 509 |
Subscription and Services | ||
Deferred Revenue Arrangement [Line Items] | ||
Deferred revenue | 14,670 | 13,770 |
Product and Other | ||
Deferred Revenue Arrangement [Line Items] | ||
Deferred revenue | $ 1,610 | $ 2,260 |
Balance Sheet Components - Co34
Balance Sheet Components - Components of Accrued Expenses (Details) - USD ($) $ in Thousands | Oct. 31, 2017 | Jan. 31, 2017 |
Payables And Accruals [Abstract] | ||
Accrued regulatory fees and taxes | $ 5,377 | $ 4,315 |
Accrued payroll and related expenses | 3,989 | 4,546 |
Accrued professional services | 1,197 | 1,007 |
Accrued other expenses | 2,404 | 1,711 |
Total accrued expenses | $ 12,967 | $ 11,579 |
Commitments and Contingencies -
Commitments and Contingencies - Additional Information (Details) - USD ($) $ in Millions | 9 Months Ended | |
Oct. 31, 2017 | Oct. 31, 2016 | |
Commitments And Contingencies Disclosure [Abstract] | ||
Long-term operating lease expiration date | 2023-02 | |
Total future minimum lease payments under noncancelable operating leases | $ 4.5 | |
Rent expense | 1.2 | $ 1.6 |
Non-cancelable purchase commitments | $ 1.9 |
Stockholders' Equity - Addition
Stockholders' Equity - Additional Information (Details) $ / shares in Units, $ in Thousands | 9 Months Ended | ||
Oct. 31, 2017USD ($)Peroid$ / sharesshares | Oct. 31, 2016USD ($) | Jan. 31, 2017USD ($) | |
Stockholders Equity Note Disclosure [Line Items] | |||
Liability | $ | $ 35,492 | $ 33,518 | |
Common Stock Warrants | |||
Stockholders Equity Note Disclosure [Line Items] | |||
Number of common warrants exercised | 38,315 | ||
Purchase of common stock upon exercise of warrants | 19,144 | ||
Number of warrants outstanding | 0 | ||
Common warrants terminated | second quarter of fiscal 2018 | ||
Stock Options | |||
Stockholders Equity Note Disclosure [Line Items] | |||
Aggregate intrinsic value of options exercised | $ | $ 300 | $ 1,300 | |
Weighted-average grant date fair value of options granted | $ / shares | $ 4.81 | ||
Common stock, shares, Issued | 35,000 | ||
Liability | $ | $ 100 | $ 100 | |
Common stock options early exercised prior to vesting | 0 | ||
Restricted Stock Units (RSUs) | |||
Stockholders Equity Note Disclosure [Line Items] | |||
Payment for shares of common stock withheld for tax withholdings on vesting of RSUs | $ | $ 1,973 | $ 1,340 | |
ESPP | |||
Stockholders Equity Note Disclosure [Line Items] | |||
Percentage of eligible compensation subject to plan limitation | 15.00% | ||
Employee stock purchase plan offering period | 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% | ||
Number of shares of common stock issued under ESPP | 0.3 | ||
Weighted average purchase price of shares of common stock under ESPP | $ / shares | $ 5.48 | ||
2015 Equity Incentive Plan | |||
Stockholders Equity Note Disclosure [Line Items] | |||
Maximum aggregate number of shares issued under the plan | 6,700,000 |
Stockholders' Equity - Summariz
Stockholders' Equity - Summarizes of Stock Option Activities (Details) - USD ($) $ / shares in Units, $ in Thousands | 9 Months Ended | 12 Months Ended |
Oct. 31, 2017 | Jan. 31, 2017 | |
Number of Shares Underlying Outstanding Options | ||
Number of Shares Underlying Outstanding Options, Beginning balance | 1,777,365 | |
Number of Shares Underlying Outstanding Options, Options granted | 122,750 | |
Number of Shares Underlying Outstanding Options, Options exercised | (59,819) | |
Number of Shares Underlying Outstanding Options, Options canceled | (27,406) | |
Number of Shares Underlying Outstanding Options, Ending balance | 1,812,890 | 1,777,365 |
Number of Shares Underlying Outstanding Options, Vested and exercisable | 1,405,829 | |
Number of Shares Underlying Outstanding Options, Vested and expected to vest | 1,812,890 | |
Weighted Average Exercise Price | ||
Weighted Average Exercise Price, Beginning balance | $ 5.74 | |
Weighted Average Exercise Price, Options granted | 10.21 | |
Weighted Average Exercise Price, Options exercised | 4.19 | |
Weighted Average Exercise Price, Options canceled | 5.89 | |
Weighted Average Exercise Price, Ending balance | 6.09 | $ 5.74 |
Weighted Average Exercise Price, Vested and exercisable | 5.31 | |
Weighted Average Exercise Price, Vested and expected to vest | $ 6.09 | |
Weighted Average Remaining Contractual Term | ||
Weighted Average Remaining Contractual Term | 6 years 6 months | 7 years |
Weighted Average Remaining Contractual Term, Vested and exercisable | 6 years 1 month 6 days | |
Weighted Average Remaining Contractual Term, Vested and expected to vest | 6 years 6 months | |
Aggregate Intrinsic Value | ||
Aggregate Intrinsic Value | $ 8,729 | $ 7,864 |
Aggregate Intrinsic Value, Vested and exercisable | 7,760 | |
Aggregate Intrinsic Value, Vested and expected to vest | $ 8,729 |
Stockholders' Equity - Summar38
Stockholders' Equity - Summarizes of Restricted Stock Units Activities (Details) - Restricted Stock Units (RSUs) - USD ($) $ / shares in Units, $ in Thousands | 9 Months Ended | 12 Months Ended |
Oct. 31, 2017 | Jan. 31, 2017 | |
Number of Shares | ||
Number of Shares, RSUs Beginning Balance | 1,859,196 | |
Number of Shares, RSUs granted | 1,111,605 | |
Number of Shares, RSUs vested | (780,104) | |
Number of Shares, RSUs canceled | (143,561) | |
Number of Shares, RSUs Ending Balance | 2,047,136 | 1,859,196 |
Weighted-Average Grant-Date Fair Value Per Share | ||
Weighted-Average Grant-Date Fair Value Per Share, Beginning Balance | $ 7.65 | |
Weighted-Average Grant-Date Fair Value Per Share, RSUs granted | 10.04 | |
Weighted-Average Grant-Date Fair Value Per Share, RSUs vested | 8.57 | |
Weighted-Average Grant-Date Fair Value Per Share, RSUs canceled | 6.52 | |
Weighted-Average Grant-Date Fair Value Per Share, Ending Balance | $ 8.68 | $ 7.65 |
Weighted-Average Remaining Contractual Life | ||
Weighted-Average Remaining Contractual Life | 1 year 4 months 24 days | 1 year 4 months 24 days |
Aggregate Intrinsic Value | ||
Aggregate Intrinsic Value | $ 21,492 | $ 17,941 |
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 | 9 Months Ended | ||
Oct. 31, 2017 | Oct. 31, 2016 | Oct. 31, 2017 | Oct. 31, 2016 | |
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items] | ||||
Stock-based compensation | $ 2,635 | $ 2,370 | $ 8,726 | $ 7,243 |
Total cost of revenue | ||||
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items] | ||||
Stock-based compensation | 251 | 264 | 909 | 742 |
Sales and marketing | ||||
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items] | ||||
Stock-based compensation | 390 | 348 | 1,406 | 1,029 |
Research and development | ||||
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items] | ||||
Stock-based compensation | 1,005 | 873 | 3,221 | 2,680 |
General and administrative | ||||
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items] | ||||
Stock-based compensation | $ 989 | $ 885 | $ 3,190 | $ 2,792 |
Stock-Based Compensation - Stoc
Stock-Based Compensation - Stock-Based Compensation Expense by Award Type (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Oct. 31, 2017 | Oct. 31, 2016 | Oct. 31, 2017 | Oct. 31, 2016 | |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||
Stock-based compensation | $ 2,635 | $ 2,370 | $ 8,726 | $ 7,243 |
Stock Options | ||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||
Stock-based compensation | 580 | 563 | 1,770 | 1,877 |
Restricted Stock Units (RSUs) | ||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||
Stock-based compensation | 1,848 | 1,594 | 6,168 | 4,614 |
ESPP | ||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||
Stock-based compensation | $ 207 | $ 213 | $ 788 | $ 752 |
Stock-Based Compensation - Addi
Stock-Based Compensation - Additional Information (Details) - USD ($) $ in Millions | 9 Months Ended | |
Oct. 31, 2017 | Oct. 31, 2016 | |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||
Employee stock options granted during period | 122,750 | |
Stock Options | ||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||
Unrecognized share-based compensation expense related to unvested stock option grants | $ 1.7 | |
Stock-based compensation expenses recognized on straight line basis offering period | 1 year 8 months 13 days | |
Employee stock options granted during period | 0 | |
Restricted Stock Units (RSUs) | ||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||
Unrecognized share-based compensation expense related to unvested stock option grants | $ 16.1 | |
Stock-based compensation expenses recognized on straight line basis offering period | 2 years 9 months 19 days | |
ESPP | ||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||
Unrecognized share-based compensation expense related to unvested stock option grants | $ 0.5 | |
Stock-based compensation expenses recognized on straight line basis offering period | 8 months 13 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) - Stock Options | 3 Months Ended | 9 Months Ended |
Oct. 31, 2017 | Oct. 31, 2017 | |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||
Expected volatility | 47.00% | 47.00% |
Expected term (in years) | 6 years 1 month 6 days | 6 years 1 month 6 days |
Risk-free interest rate, minimum | 1.80% | 1.80% |
Risk-free interest rate, maximum | 2.10% | 2.10% |
Stock-Based Compensation - As43
Stock-Based Compensation - Assumptions Used to Estimate Fair Value of Employee Stock Purchase Plan Using Black-Scholes Option Pricing Model (Details) - ESPP | 3 Months Ended | 9 Months Ended | ||
Oct. 31, 2017 | Oct. 31, 2016 | Oct. 31, 2017 | Oct. 31, 2016 | |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||
Expected volatility, minimum | 35.00% | 37.00% | 35.00% | 37.00% |
Risk-free interest rate, minimum | 0.90% | 0.50% | 0.90% | 0.50% |
Expected volatility, maximum | 41.00% | 44.00% | 41.00% | 50.00% |
Risk-free interest rate, maximum | 1.40% | 0.70% | 1.40% | 1.00% |
Minimum | ||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||
Expected term (in years) | 6 months | 6 months | 6 months | 6 months |
Maximum | ||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||
Expected term (in years) | 2 years | 2 years | 2 years | 2 years |
Income Taxes - Additional Infor
Income Taxes - Additional Information (Details) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Oct. 31, 2017 | Oct. 31, 2016 | Oct. 31, 2017 | Oct. 31, 2016 | |
Income Tax Disclosure [Abstract] | ||||
Provision or benefit for income taxes | $ 0 | $ 0 | $ 0 | $ 0 |
Unrecognized tax benefits | $ 2,500,000 | 2,500,000 | ||
Interest expense or penalties related to unrecognized tax benefits | $ 0 |
Basic and Diluted Net Loss Pe45
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 | 9 Months Ended | ||
Oct. 31, 2017 | Oct. 31, 2016 | Oct. 31, 2017 | Oct. 31, 2016 | |
Numerator | ||||
Net loss | $ (3,179) | $ (2,821) | $ (10,194) | $ (10,117) |
Denominator | ||||
Weighted-average common shares | 18,725,286 | 17,648,251 | 18,407,817 | 17,337,682 |
Basic and diluted net loss per share | $ (0.17) | $ (0.16) | $ (0.55) | $ (0.58) |
Basic and Diluted Net Loss Pe46
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 | 9 Months Ended | ||
Oct. 31, 2017 | Oct. 31, 2016 | Oct. 31, 2017 | Oct. 31, 2016 | |
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items] | ||||
Potential shares excluded from diluted net loss per share | 4,153,177 | 4,201,273 | 4,153,177 | 4,201,273 |
Employee stock purchase plan | ||||
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items] | ||||
Potential shares excluded from diluted net loss per share | 274,339 | 339,543 | 274,339 | 339,543 |
Options to purchase common stock | ||||
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items] | ||||
Potential shares excluded from diluted net loss per share | 1,812,890 | 1,796,127 | 1,812,890 | 1,796,127 |
Restricted stock units | ||||
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items] | ||||
Potential shares excluded from diluted net loss per share | 2,047,136 | 1,901,233 | 2,047,136 | 1,901,233 |
Common stock subject to repurchase | ||||
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items] | ||||
Potential shares excluded from diluted net loss per share | 18,812 | 66,439 | 18,812 | 66,439 |
Warrants to purchase common stock | ||||
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items] | ||||
Potential shares excluded from diluted net loss per share | 97,931 | 97,931 |
Defined Contribution Plans - Ad
Defined Contribution Plans - Additional Information (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Oct. 31, 2017 | Oct. 31, 2016 | Oct. 31, 2017 | Oct. 31, 2016 | |
Compensation And Retirement Disclosure [Abstract] | ||||
Compensation costs | $ 0.1 | $ 0.1 | $ 0.4 | $ 0.3 |
Related Party Transaction - Add
Related Party Transaction - Additional Information (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Oct. 31, 2017 | Oct. 31, 2016 | Oct. 31, 2017 | Oct. 31, 2016 | |
One of Board Members | ||||
Related Party Transaction [Line Items] | ||||
Public relations services fee | $ 0.1 | $ 0.1 | $ 0.1 | $ 0.3 |