Document and Entity Information
Document and Entity Information - shares | 9 Months Ended | |
Oct. 31, 2018 | Nov. 30, 2018 | |
Document And Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Oct. 31, 2018 | |
Document Fiscal Year Focus | 2,019 | |
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 Small Business | false | |
Entity Emerging Growth Company | true | |
Entity Ex Transition Period | true | |
Entity Common Stock, Shares Outstanding | 20,100,000 |
CONDENSED CONSOLIDATED BALANCE
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands | Oct. 31, 2018 | Jan. 31, 2018 |
Current assets: | ||
Cash and cash equivalents | $ 13,356 | $ 4,483 |
Short-term investments | 33,527 | 47,307 |
Accounts receivable, net | 2,880 | 2,858 |
Inventories | 7,817 | 6,079 |
Other current assets | 3,830 | 4,397 |
Total current assets | 61,410 | 65,124 |
Property and equipment, net | 4,571 | 4,732 |
Intangible assets, net | 2,836 | 1,292 |
Goodwill | 3,803 | 1,947 |
Other assets | 2,967 | 336 |
Total assets | 75,587 | 73,431 |
Current liabilities: | ||
Accounts payable | 7,866 | 5,453 |
Accrued expenses | 17,471 | 14,777 |
Deferred revenue | 15,098 | 15,556 |
Total current liabilities | 40,435 | 35,786 |
Other liabilities | 771 | 577 |
Total liabilities | 41,206 | 36,363 |
Commitments and contingencies (Note 5) | ||
Stockholders’ equity: | ||
Preferred stock $0.0001 par value: 10 million shares authorized; none issued and outstanding | ||
Common stock $0.0001 par value: 100 million shares authorized; 20.1 million and 19.1 million shares issued and outstanding, respectively | 3 | 2 |
Additional paid-in capital | 136,718 | 128,081 |
Accumulated other comprehensive loss | (34) | (84) |
Accumulated deficit | (102,306) | (90,931) |
Total stockholders’ equity | 34,381 | 37,068 |
Total liabilities and stockholders’ equity | $ 75,587 | $ 73,431 |
CONDENSED CONSOLIDATED BALANC_2
CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) (Unaudited) - $ / shares | Oct. 31, 2018 | Jan. 31, 2018 |
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 | 20,100,000 | 19,100,000 |
Common stock, shares outstanding | 20,100,000 | 19,100,000 |
CONDENSED CONSOLIDATED STATEMEN
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Oct. 31, 2018 | Oct. 31, 2017 | Oct. 31, 2018 | Oct. 31, 2017 | |
Revenue: | ||||
Total revenue | $ 32,608,000 | $ 28,505,000 | $ 94,511,000 | $ 84,270,000 |
Cost of revenue: | ||||
Total cost of revenue | 12,535,000 | 11,339,000 | 37,727,000 | 34,490,000 |
Gross profit | 20,073,000 | 17,166,000 | 56,784,000 | 49,780,000 |
Operating expenses: | ||||
Sales and marketing | 10,755,000 | 9,127,000 | 30,149,000 | 27,526,000 |
Research and development | 8,593,000 | 7,476,000 | 25,558,000 | 21,360,000 |
General and administrative | 4,589,000 | 3,890,000 | 13,036,000 | 11,511,000 |
Total operating expenses | 23,937,000 | 20,493,000 | 68,743,000 | 60,397,000 |
Loss from operations | (3,864,000) | (3,327,000) | (11,959,000) | (10,617,000) |
Interest and other income, net | 224,000 | 148,000 | 599,000 | 423,000 |
Loss before income taxes | (3,640,000) | (3,179,000) | (11,360,000) | (10,194,000) |
Income tax benefit | 146,000 | 277,000 | 0 | |
Net loss | $ (3,494,000) | $ (3,179,000) | $ (11,083,000) | $ (10,194,000) |
Net loss per share of common stock: | ||||
Basic and diluted | $ (0.18) | $ (0.17) | $ (0.56) | $ (0.55) |
Weighted-average number of shares used in per share amounts: | ||||
Basic and diluted | 19,962,735 | 18,725,286 | 19,655,727 | 18,407,817 |
Subscription and services | ||||
Revenue: | ||||
Total revenue | $ 29,794,000 | $ 25,524,000 | $ 85,532,000 | $ 74,830,000 |
Cost of revenue: | ||||
Total cost of revenue | 8,796,000 | 7,613,000 | 26,388,000 | 23,176,000 |
Product and other | ||||
Revenue: | ||||
Total revenue | 2,814,000 | 2,981,000 | 8,979,000 | 9,440,000 |
Cost of revenue: | ||||
Total cost of revenue | $ 3,739,000 | $ 3,726,000 | $ 11,339,000 | $ 11,314,000 |
CONDENSED CONSOLIDATED STATEM_2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands | 9 Months Ended | |
Oct. 31, 2018 | Oct. 31, 2017 | |
Cash flows from operating activities: | ||
Net loss | $ (11,083) | $ (10,194) |
Adjustments to reconcile net loss to net cash (used in) provided by operating activities: | ||
Stock-based compensation expense | 7,734 | 8,726 |
Depreciation and amortization of property and equipment | 1,717 | 1,446 |
Amortization of acquired intangible assets | 540 | 244 |
Changes in fair value of acquisition-related contingent consideration | (128) | |
Deferred income taxes | (277) | |
Amortization and accretion of premiums from investments | (208) | 158 |
Changes in operating assets and liabilities: | ||
Accounts receivable, net | (207) | 1,172 |
Inventories | (1,734) | (386) |
Deferred inventory costs | 41 | 488 |
Other assets | (2,822) | (1,233) |
Accounts payable and other liabilities | 4,164 | 1,707 |
Deferred revenue | 458 | 251 |
Net cash (used in) provided by operating activities | (1,805) | 2,379 |
Cash flows from investing activities: | ||
Purchases of short-term investments | (26,709) | (38,898) |
Proceeds from maturities and sales of short-term investments | 40,762 | 39,327 |
Purchases of property and equipment | (1,438) | (1,747) |
Business acquisition, net of cash assumed | (2,402) | |
Net cash provided by (used in) investing activities | 10,213 | (1,318) |
Cash flows from financing activities: | ||
Proceeds from issuance of common stock | 2,763 | 1,869 |
Net cash provided by (used in) financing activities | 465 | (104) |
Net increase in cash and cash equivalents | 8,873 | 957 |
Cash and cash equivalents at beginning of period | 4,483 | 3,990 |
Cash and cash equivalents at end of period | 13,356 | 4,947 |
Non-cash investing and financing activities: | ||
Unpaid portion of property and equipment purchases | 140 | 177 |
Contingent consideration for business acquisition | 231 | |
Holdback payable for business acquisition | 780 | |
Shares issued for business acquisition | 390 | |
Restricted Stock Units (RSUs) | ||
Cash flows from financing activities: | ||
Shares repurchased for tax withholdings on vesting of restricted stock units | $ (2,298) | $ (1,973) |
Overview And Basis of Presentat
Overview And Basis of Presentation | 9 Months Ended |
Oct. 31, 2018 | |
Accounting Policies [Abstract] | |
Overview and Basis of Presentation | Note 1: Overview and Basis of Presentation Ooma, Inc. and its wholly-owned subsidiaries (collectively, “Ooma” or the “Company”) create new communications experiences for businesses and consumers. The Company’s smart SaaS platform serves as a communications hub, which offers cloud-based communications solutions, smart security and other connected services. The Company was founded in 2003 and is headquartered in Sunnyvale, California. acquired Voxter Communications, Inc., (“Voxter”) a provider of customizable Unified-Communications-as-a-Service (“UCaaS”) offerings for mid-market and enterprise businesses. See Note 11: Business Acquisition below . Fiscal Year. The Company’s fiscal year ends on January 31. References to fiscal 2019 and fiscal 2018 refer to the fiscal year ending January 31, 2019 and the fiscal year ended January 31, 2018, respectively. Principles of Presentation and Consolidation 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 audited consolidated financial statements and accompanying notes included in the Company’s Annual Report on Form 10-K for the year ended January 31, 2018 (“Annual Report”). 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, inventory valuation, deferred commissions, valuation of goodwill and intangible assets, regulatory fees and indirect tax accruals, loss contingencies, 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. Comprehensive Loss. For all periods presented, comprehensive loss approximated net loss in the condensed consolidated statements of operations. Therefore, the condensed consolidated statements of comprehensive loss have been omitted. Significant Accounting Policies . Except for the accounting policies related to revenue recognition and customer acquisition costs that were updated as a result of adopting Topic 606, Revenue from Contracts with Customers, there have been no significant changes in the Company’s accounting policies from those disclosed in its Annual Report. See Note 2: Revenue, Deferred Revenue and Commissions below. Recently Adopted Accounting Standards Revenue recognition. In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2014-09, Revenue from Contracts with Customers ( Topic 606 ), which superseded the revenue recognition guidance in Topic 605 with a comprehensive revenue measurement and recognition standard and expanded disclosure requirements. Topic 606 also includes Subtopic 340-40, Other Assets and Deferred Costs – Contracts with Customers , which requires the deferral of incremental costs to acquire customer contracts, including sales commissions. The Company adopted the new standard effective February 1, 2018 under the modified retrospective method. The Company has implemented policies, processes and controls to support the standard's measurement and disclosure requirements. See Note 2: Revenue , Deferred Revenue and Commissions for disclosure on the impact of adopting this standard and updated accounting policies. Goodwill. The Company early adopted ASU 2017-04, Intangibles – Goodwill and Other (Topic 350) in the first quarter of fiscal 2019. The updated standard eliminated the requirement to calculate the implied fair value of goodwill to measure a goodwill impairment charge. Instead, an impairment charge will be based on the excess of a reporting unit's carrying amount over its fair value. The adoption of this standard had no impact on the Company’s condensed consolidated financial statements. Business Combinations. The Company adopted ASU 2017-01, Business Combinations (Topic 805) – Clarifying the Definition of a Business in the first quarter of fiscal 2019. The updated standard provided guidance to assist entities in evaluating when a set of transferred assets and activities constitutes a business. To be considered a business, an acquisition would have to include an input and a substantive process that together significantly contribute to the ability to create outputs. The adoption of this standard had no impact on the Company’s condensed consolidated financial statements. Accounting Standards Not Yet Adopted Leases . In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) which supersedes the lease accounting requirements in Topic 840 and requires that lessees recognize a right-of-use asset and a lease liability on the balance sheet for all leases, with the exception of short-term leases. The standard also requires qualitative and quantitative disclosures to help investors and other readers of the financial statements to better understand the amount, timing and uncertainty of cash flows arising from leases. The Company will adopt Topic 842 in the first quarter of fiscal 2020, utilizing the optional transition method, whereby it will not be adjusting comparative period financial statements for the new standard. The Company continues to make progress in evaluating potential lease arrangements under Topic 842. The Company believes the most significant impact upon adoption of Topic 842 will be the recognition of right-of-use assets and lease liabilities that were not previously recognized, which will increase total assets and liabilities on its consolidated balance sheets. The Company does not expect the adoption to have a material impact on its consolidated statements of operations. Stock-based Compensation . In June 2018, the FASB issued ASU 2018-07, Compensation – Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting, which expands the scope of Topic 718 to include and simplify the accounting for share-based payments issued to nonemployees. Under the amended standard, most of the guidance on nonemployee share-based payments would be aligned with the requirements for share-based payments granted to employees. The new standard will become effective for the Company beginning in fiscal 2020. The Company does not expect the adoption to have a material impact on its consolidated financial statements. Fair Value Measurement. In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework – Changes to the Disclosure Requirements for Fair Value Measurements, which expands the disclosure requirements for Level 3 fair value measurements as well as eliminates, adds and modifies certain other disclosure requirements for fair value measurements. The amendment will become effective for the Company beginning in fiscal 2020. The Company is evaluating the effect of adoption on its consolidated financial statements. |
Revenue, Deferred Revenue and C
Revenue, Deferred Revenue and Commissions | 9 Months Ended |
Oct. 31, 2018 | |
Revenue From Contract With Customer [Abstract] | |
Revenue, Deferred Revenue and Commissions | Note 2: Revenue, Deferred Revenue and Commissions On February 1, 2018, the Company adopted Topic 606, Revenue from Contracts with Customers The new standard impacted revenue recognition timing on product sales made to certain channel partners, whereby revenue is now recognized when the Company delivers product to the channel partner (sell-in basis) rather than deferring recognition until resale by the partner to the end customer (sell-through basis). The adoption of the new standard also changed the treatment of sales commissions, whereby the Company now capitalizes its incremental costs of acquiring customer contracts and amortizes these deferred costs over the estimated customer life. Previously, all sales commissions were expensed as incurred. See below for further discussion of the Company’s updated significant accounting policies. As a result of adopting Topic 606, the February 1, 2018 beginning balance of accumulated deficit increased by $0.3 million, reflecting a net decrease to deferred revenue of approximately $1.0 million and corresponding adjustments to deferred inventory costs and other related accounts. Deferred commissions related to open contracts as of the adoption date were immaterial The following tables summarize the impact of adopting Topic 606 on the Company’s condensed consolidated statement of operations and balance sheet (in thousands, except per share amounts): Statement of Operations: Three Months Ended October 31, 2018 As Reported Effect of Change Balances without adoption of Topic 606 Total revenue $ 32,608 $ (212 ) $ 32,396 Total cost of revenue 12,535 (507 ) 12,028 Gross profit 20,073 295 20,368 Sales and marketing expense 10,755 1,238 11,993 Net loss (3,494 ) (943 ) (4,437 ) Net loss per share - basic and diluted (0.18 ) (0.04 ) (0.22 ) Nine Months Ended October 31, 2018 As Reported Effect of Change Balances without adoption of Topic 606 Total revenue $ 94,511 $ (90 ) $ 94,421 Total cost of revenue 37,727 (394 ) 37,333 Gross profit 56,784 304 57,088 Sales and marketing expense 30,149 3,499 33,648 Net loss (11,083 ) (3,195 ) (14,278 ) Net loss per share - basic and diluted (0.56 ) (0.17 ) (0.73 ) Balance Sheet: As of October 31, 2018 As Reported Effect of Change Balances without adoption of Topic 606 Accounts receivable, net $ 2,880 $ 840 $ 3,720 Other current assets (1) 3,830 491 4,321 Other assets (2) 2,967 (2,688 ) 279 Accrued expenses (3) 17,471 (162 ) 17,309 Deferred revenue 15,098 1,695 16,793 Accumulated deficit (102,306 ) (2,890 ) (105,196 ) (1) Other current assets include deferred commissions and deferred inventory costs. (2) Other assets include non-current deferred commissions. (3) Accrued expenses include certain accrued sales incentives. The adoption of the new standard did not have any impact on net cash flows for operating, investing and financing activities in the consolidated statements of cash flows. Revenue Recognition The Company derives its revenue from two sources: (1) subscription and services revenue, which are generated from sales of subscription plans for communications services and other connected services; and (2) product and other revenue. Subscriptions and services are sold directly to end-customers. Products are sold to end-customers through several channels, including but not limited to, distributors, retailers and resellers (collectively the “channel partners”), and Ooma sales representatives. Under Topic 606, the Company determines revenue recognition through the following steps: • identification of the contract(s) with a customer; • identification of the performance obligations in the contract; • determination of the transaction price; • allocation of the transaction price to the performance obligations in the contract; and • recognition of revenue when, or as, the Company satisfies a performance obligation Revenue is recorded net of any sales and telecommunications taxes collected from customers to be remitted to government authorities. Under Topic 606, the Company has maintained its policy to exclude these taxes from revenue. Revenue disaggregated by revenue source consisted of the following (in thousands): Three Months Ended Nine Months Ended October 31, 2018 October 31, 2017 October 31, 2018 October 31, 2017 Subscription and services revenue $ 29,794 $ 25,524 $ 85,532 $ 74,830 Product and other revenue 2,814 2,981 8,979 9,440 Total revenue $ 32,608 $ 28,505 $ 94,511 $ 84,270 No individual country outside of the United States represented 10% or more of total revenue for the periods presented. No . Most of the Company’s revenue is derived from recurring subscription fees related to service plans such as Ooma Business, Ooma Residential and other communications services. All subscription revenue is recognized ratably over the contractual service term. The Company’s service plans are generally sold as monthly subscriptions; however, certain plans are also offered as annual subscriptions. The Company recognizes a small portion of its revenue on a point-in-time usage basis from services such as: prepaid international calls, directory assistance, and advertisements displayed through its Talkatone mobile application. Product and other revenue. Product and other revenue is generated from the sale of on-premise appliances and end-point devices, including shipping and handling fees for the Company’s direct customers, and to a lesser extent from porting fees that enable customers to transfer their existing phone numbers. The Company recognizes revenue from sales to direct end-customers and channel partners when it delivers the product or when all customer contractual provisions have been met, if any. The Company’s distribution agreements with channel partners typically contain clauses for price protection and right of return. Therefore, the amount of product revenue recognized is adjusted for any variable consideration, such as expected returns and customer sales incentives as described in “Sales allowances” below. Amounts billed to customers related to shipping and handling are classified as revenue. Shipping and handling costs are expensed as incurred and classified as cost of revenue . Multiple performance obligations. The Company’s contracts with customers typically contain multiple performance obligations that consist of product(s) and related communications services. For these contracts, the Company accounts for individual performance obligations separately if they are distinct. The contract transaction price is then allocated to the separate performance obligations on a relative stand-alone selling price (“SSP”) basis. The Company determines the SSP for its communications services based on observable historical stand-alone sales to customers, for which the Company requires that a substantial majority of selling prices fall within a reasonably narrow pricing range. The Company does not have a directly observable SSP for its on-premise appliance and end-point devices, and therefore establishes SSP based on its best estimates and judgments, considering company-specific factors such as pricing strategies, estimated product and other costs, and bundling and discounting practices. Sales allowances. Credits and/or rebates issued to customers for product returns and sales incentives are deemed to be variable consideration under Topic 606, which the Company estimates and records as a reduction to revenue at the point of sale. Product returns and customer sales incentives are estimated based on the Company’s historical experience, current trends and expectations regarding future experience. Trends are influenced by product life cycles, new product introductions, market acceptance of products, the type of customer, seasonality and other factors. Product return and sales incentive rates may fluctuate over time but are sufficiently predictable to allow the Company to estimate expected future amounts. If actual future returns and sales incentives differ from past experience, additional reserves may be required. As of October 31, 2018 and January 31, 2018, the Company had total reserves for product returns and customer sales incentives of $0.8 million and $0.6 million. Accounts Receivable Accounts receivable are stated at invoice value less estimated allowances for doubtful accounts, product returns and customer sales incentives. The Company records its allowances for doubtful accounts based upon assessment of several factors, including historical experience, aging of receivable balances and economic conditions. As of October 31, 2018 and January 31, 2018, the Company had allowances for doubtful accounts of $0.1 million. (See “Sales allowances” above regarding allowances for product returns and sales incentives.) Customers who represented 10% or more of the Company's net accounts receivable balance were as follows: As of October 31, 2018 January 31, 2018 Customer A 18 % 10 % Customer B 17 % * * Represented less than 10% of accounts receivable, net at the end of respective periods Customer Acquisition Costs T he Company recognizes an asset related to the costs incurred to obtain a contract if management expects to recover those costs and the Company would not have incurred those costs if the contract had not been obtained. Based on this policy, t he Company capitalizes its sales commissions and other costs paid to internal sales personnel, third-party sales entities and value-added resellers that are incremental to obtaining customer contracts. These deferred costs are then amortized on a systematic basis over the estimated customer life of five years, calculated based on both qualitative and quantitative factors, such as product life cycles and customer attrition. Amortization expense is included in sales and marketing expenses in the accompanying condensed consolidated statement of operations. As of October 31, 2018, total deferred commission costs on the Company’s consolidated balance sheet was approximately $3.5 million, of which the $0.8 million current portion was included in other current assets and the $2.7 million non-current portion was included in other assets. During the three and nine months ended October 31, 2018, amortization expense was nd there was no impairment loss in relation to the costs capitalized Deferred Revenue Deferred revenue primarily consists of billings or payments received in advance of meeting revenue recognition criteria. The Company’s communications services are sold as monthly or annual subscriptions, payable in advance. The Company recognizes deferred services revenue on a ratable basis over the term of the contract as the services are provided. For all arrangements, any revenue that has been deferred and is expected to be recognized beyond one year is classified in long term liabilities on the consolidated balance sheets. As of October 31, 2018 January 31, 2018 Subscription and services $ 15,375 $ 14,568 Product and other 62 1,416 Total deferred revenue 15,437 15,984 Less: current deferred revenue 15,098 15,556 Noncurrent deferred revenue included in other long-term liabilities $ 339 $ 428 During the three and nine months ended October 31, 2018, the Company recognized revenue of approximately $2.2 million and $14.4 million, respectively, pertaining to amounts deferred as of January 31, 2018. As of October 31, 2018, the Company’s deferred revenue balance was primarily composed of subscription contracts that were invoiced during the first nine months of fiscal 2019. Remaining Performance Obligations As of October 31, 2018, revenue of approximately $0.8 million is expected to be recognized from remaining performance obligations for open contracts with an original expected length of more than one year. This amount includes both long-term deferred revenue and non-cancelable contract amounts that will be invoiced and recognized as revenue in future periods. The Company expects to recognize revenue of approximately $0.4 million over the next 12 months and the remainder thereafter. |
Fair Value Measurements
Fair Value Measurements | 9 Months Ended |
Oct. 31, 2018 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements | Note 3: Fair Value Measurements The Company records its financial assets and liabilities at fair value. The Company estimates and categorizes fair value by applying the following hierarchy: Level 1: Quoted prices (unadjusted) for identical assets or liabilities in active markets. Level 2: Observable prices 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. The Company’s financial assets and liabilities that are measured at fair value on a recurring basis by level within the fair value hierarchy were as follows (in thousands): Balance as of October 31, 2018 Balance as of January 31, 2018 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Assets: Cash and cash equivalents: Money market funds $ 4,947 $ — $ — $ 4,947 $ 554 $ — $ — $ 554 U.S. government securities 997 — — 997 — — — — Commercial paper — 899 — 899 — 2,844 — 2,844 Total cash equivalents $ 5,944 $ 899 $ — $ 6,843 $ 554 $ 2,844 $ — $ 3,398 Cash 6,513 1,085 Total cash and cash equivalents $ 13,356 $ 4,483 Short-term investments: U.S. government securities $ 13,870 $ — $ — $ 13,870 $ 20,867 $ — $ — $ 20,867 Corporate debt securities — 7,617 — 7,617 — 13,895 — 13,895 Commercial paper — 9,755 — 9,755 — 9,272 — 9,272 U.S. agency securities — — — — — 1,996 — 1,996 Asset-backed securities — 2,285 — 2,285 — 1,277 — 1,277 Total short-term investments $ 13,870 $ 19,657 $ — $ 33,527 $ 20,867 $ 26,440 $ — $ 47,307 Liabilities: Contingent consideration $ — $ — $ 414 $ 414 $ — $ — $ 311 $ 311 Total liabilities $ — $ — $ 414 $ 414 $ — $ — $ 311 $ 311 For the periods presented, the amortized cost of cash equivalents and marketable securities approximated their fair value and there were no material realized or unrealized gains or losses, either individually or in the aggregate. No investments in the Company’s portfolio were other-than-temporarily impaired. Level 3 liabilities consisted of contingent consideration related to the Company’s acquisitions of Butterfleye, Inc. (“Butterfleye”) in December 2017 and Voxter in March 2018 that were estimated using an income-based approach. Key inputs included assumptions regarding the achievement of certain performance milestones and discount rates consistent with the level of risk and economy in general. Contingent consideration is classified as a component of accrued expenses on the condensed consolidated balance sheets and changes in fair value are recorded to general and administrative expenses in the condensed consolidated statements of operations. Changes in the Level 3 fair value category for the periods presented were as follows (in thousands): Contingent Consideration Balance at January 31, 2018 $ 311 Add: Acquired contingent consideration 231 Changes in fair value (128 ) Balance at October 31, 2018 $ 414 The following table classifies the Company’s short-term investments by contractual maturities (in thousands): As of October 31, 2018 As of January 31, 2018 Amortized Value Fair Value Amortized Value Fair Value One year or less $ 33,561 $ 33,527 $ 43,227 $ 43,172 Over one year and less than two years — — 4,164 4,135 Total $ 33,561 $ 33,527 $ 47,391 $ 47,307 |
Balance Sheet Components
Balance Sheet Components | 9 Months Ended |
Oct. 31, 2018 | |
Balance Sheet Components [Abstract] | |
Balance Sheet Components | Note 4: Balance Sheet Components The following sections and tables provide details of selected balance sheet items (amounts in tables are in thousands): Inventories As of October 31, 2018 January 31, 2018 Raw material $ 5,547 $ 562 Finished goods 2,270 5,517 Total inventory $ 7,817 $ 6,079 Other Current Assets As of October 31, 2018 January 31, 2018 Prepaid expenses $ 1,707 $ 1,921 Deferred sales commissions (1) 810 — Deferred inventory costs (1) 114 1,061 Other current assets 1,199 1,415 Total other current assets $ 3,830 $ 4,397 (1) Changes in deferred inventory costs and deferred sales commissions were attributable to the Company’s adoption of Topic 606 on February 1, 2018. See Note 2: Revenue, Deferred Revenue and Commissions Intangible Assets and Goodwill The carrying amount of goodwill was $3.8 million and $1.9 million as of October 31, 2018 and January 31, 2018, respectively. The Company recognized $2.1 million in intangibles and $1.9 million in goodwill following the acquisition of Voxter in March 2018. See Note 11: Business Acquisitions As of October 31, 2018 As of January 31, 2018 Gross Value Accumulated Amortization Carrying Value Gross Value Accumulated Amortization Carrying Value Developed technology 2,560 (989 ) $ 1,571 $ 1,568 $ (630 ) $ 938 Customer relationships 902 (112 ) 790 — — — Trade name 451 (144 ) 307 262 (81 ) 181 Patents and licenses 714 (703 ) 11 714 (698 ) 16 User relationships 458 (458 ) — 458 (458 ) — Total amortizable assets 5,085 (2,406 ) 2,679 3,002 (1,867 ) 1,135 In-process R&D 157 — 157 157 — 157 Total intangible assets $ 5,242 $ (2,406 ) $ 2,836 $ 3,159 $ (1,867 ) $ 1,292 At October 31, 2018, the estimated future amortization expense for intangible assets was as follows (in thousands): Fiscal Years Ending January 31, Total 2019 remainder $ 197 2020 651 2021 603 2022 599 2023 and thereafter 629 Total $ 2,679 Accrued Expenses As of October 31, 2018 January 31, 2018 Payroll and related expenses $ 6,174 $ 5,423 Regulatory fees and taxes 6,039 5,239 Acquisition-related consideration 1,180 353 Other 4,078 3,762 Total accrued expenses $ 17,471 $ 14,777 |
Commitments and Contingencies
Commitments and Contingencies | 9 Months Ended |
Oct. 31, 2018 | |
Commitments And Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | Note 5: Commitments and Contingencies Leases and Purchase Commitments The Company’s principal commitments consist of obligations under enforceable and legally binding lease agreements for office space and data center facilities. As of October 31, 2018 and January 31, 2018, future minimum rental commitments under non-cancelable operating leases were $3.5 million and $4.3 million, respectively. As of October 31, 2018 and January 31, 2018, non-cancelable purchase commitments with the Company’s contract manufacturers were $6.4 million and $3.3 million, respectively. 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. As of October 31, 2018, the Company does not have any accrued liabilities recorded for loss contingencies in its consolidated financial statements. 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 (“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 and such other relief as the court may deem proper. The Company believes that the plaintiff’s claims are without merit since the Company has no employees, property or other indicia of a “substantial nexus” with the State of Pennsylvania. The Company intends to continue vigorously defending against 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. 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. In February 2017, the Court granted the Company’s motion to transfer the case to the Northern District of California, which proceeding has been stayed pending the outcome of an inter partes review of the Deep Green Wireless Patent by the United States Patent Trial and Appeal Board (“PTAB”). The PTAB has granted the Company’s motion for inter partes review of the Deep Green Wireless Patent, and on August 13, 2018 the PTAB heard oral arguments from each party. Given the institution date, the Company expects the PTAB to issue a ruling sometime in December 2018. 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 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. 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, and on December 13, 2017 the Court heard oral arguments from the parties regarding such motion. On March 27, 2018, the Magistrate Division of the Oregon Tax Court issued its decision denying the Company’s motion, and granting the DOR’s motion for summary judgment. Notwithstanding such decision, the Company believes that the Commerce Clause of the United States Constitution bars the application of the Tax and the Assessments to the Company, since the Company has no employees, property or other indicia of a “substantial nexus” with the State of Oregon. On June 12, 2018, the Company filed an appeal of the Magistrate Divisions decision and on October 12, 2018, the Company filed its motion for summary judgment with the Regular Division of the Oregon Tax Court. The DOR filed its motion for summary judgment on November 16, 2018. A hearing has been set in January 2019, and 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 fi resources. For the nine months ended October 31, 2018, the Company paid $0.6 million to the State of Oregon in connection with the Oregon Tax Litigation, of which $0.3 million Secure Cam Litigation On May 2, 2018, plaintiff Secure Cam, LLC filed a complaint in the U.S. District Court for the Northern District of California against the Company’s wholly-owned subsidiary, Butterfleye, Inc., alleging infringement of four United States patents (No. 8,531,555, No. 8,350,928, No. 8,836,819 and No. 9,363,408) (the “Secure Cam Litigation”). On September 28, 2018, the Company and Secure Cam, LLC settled the complaint for an immaterial amount and the complaint was voluntarily dismissed with prejudice. On November 29, 2017, the Superior Court dismissed the claims that were based on Sections 12(a)(2) and 15 of the Securities Act with prejudice, but denied the Company’s motion to stay the case pending the United States Supreme Court’s decision in Cyan v. Beaver Cnty. Emp. Ret.‘ Fund. On March 20, 2018, the United States Supreme Court published its decision in the Cyan case, holding that state courts have subject matter jurisdiction to hear claims brought under the Securities Act, such as the claims alleging violations of Section 11 of the Securities Act (the only remaining claims in the Securities Litigation) brought against the Company in the Superior Court. The parties are now engaged in the discovery phase of the litigation. The Company believes the plaintiffs’ claims are without merit and the Company is vigorously defending against the Securities Litigation and will continue to do so. 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 Securities Litigation is not estimable. Dolemba Litigation On September 4, 2018, plaintiff Scott Dolemba filed a putative class action complaint against the Company in the U.S. District Court for the Northern District of Illinois, Eastern Division, alleging violations of the Telephone Consumer Protection Act and the Illinois Consumer Fraud Act. The complaint seeks unspecified monetary damages, costs, attorneys’ fees and other appropriate relief. Based on the Company’s current knowledge, the Company has determined that the amount of any estimated loss resulting from the Dolemba Litigation is not material. Indemnification 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, 2018 | |
Equity [Abstract] | |
Stockholders' Equity | Note 6: Stockholders’ Equity Changes in stockholders' equity for the nine months ended October 31, 2018 and 2017 were as follows (in thousands): Nine Months Ended October 31, 2018 Common stock Accumulated Stockholders' and APIC (1) AOCI (2) Deficit Equity BALANCE - January 31, 2018 $ 128,083 $ (84 ) $ (90,931 ) $ 37,068 Issuance of common stock under equity based plans 1,205 — — 1,205 Shares repurchased for tax withholdings on RSU (3) (759 ) — — (759 ) Issuance of common stock for business acquisition 390 — — 390 Stock-based compensation 2,314 — — 2,314 Other comprehensive loss — (1 ) — (1 ) Cumulative adjustment upon adoption of Topic 606 — — (292 ) (292 ) Net loss — — (3,685 ) (3,685 ) BALANCE - April 30, 2018 131,233 (85 ) (94,908 ) 36,240 Issuance of common stock under equity based plans 488 — — 488 Shares repurchased for tax withholdings on RSU vesting (441 ) — — (441 ) Stock-based compensation 2,762 — — 2,762 Other comprehensive loss — 36 — 36 Net loss — — (3,904 ) (3,904 ) BALANCE - July 31, 2018 134,042 (49 ) (98,812 ) 35,181 Issuance of common stock under equity based plans 1,118 — — 1,118 Shares repurchased for tax withholdings on RSU vesting (1,097 ) — — (1,097 ) Stock-based compensation 2,658 — — 2,658 Other comprehensive loss — 15 — 15 Net loss — — (3,494 ) (3,494 ) BALANCE - October 31, 2018 $ 136,721 $ (34 ) $ (102,306 ) $ 34,381 Nine Months Ended October 31, 2017 Common stock Accumulated Stockholders' and APIC (1) AOCI (2) Deficit Equity BALANCE - January 31, 2017 $ 117,641 $ (11 ) $ (77,810 ) $ 39,820 Issuance of common stock under equity based plans 875 — — 875 Shares repurchased for tax withholdings on RSU vesting (300 ) — — (300 ) Stock-based compensation 2,971 — — 2,971 Other comprehensive loss — (12 ) — (12 ) Net loss — — (3,392 ) (3,392 ) BALANCE - April 30, 2017 121,187 (23 ) (81,202 ) 39,962 Issuance of common stock under equity based plans 38 — — 38 Shares repurchased for tax withholdings on RSU vesting (203 ) — — (203 ) Stock-based compensation 3,120 — — 3,120 Other comprehensive loss — 3 — 3 Net loss — — (3,623 ) (3,623 ) BALANCE - July 31, 2017 124,142 (20 ) (84,825 ) 39,297 Issuance of common stock under equity based plans 991 — — 991 Shares repurchased for tax withholdings on RSU vesting (1,470 ) — — (1,470 ) Stock-based compensation 2,635 — — 2,635 Other comprehensive loss — (16 ) — (16 ) Net loss — — (3,179 ) (3,179 ) BALANCE - October 31, 2017 $ 126,298 $ (36 ) $ (88,004 ) $ 38,258 (1) Additional paid-in capital; (2) Accumulated other comprehensive loss; (3) Restricted stock unit Equity Incentive Plan. T he 2015 Equity Incentive Plan provides for the grant of incentive stock options to its employees and any of its subsidiary corporations’ employees, and for the grant of restricted stock units (“RSUs”), non-statutory stock options, stock appreciation rights, restricted stock, performance units and performance shares to its employees, directors and consultants and its subsidiary corporations’ employees and consultants. Stock option activity for the nine months ended October 31, 2018 was as follows: Weighted Average Weighted Average Aggregate Number of Exercise Price Contractual Term Intrinsic Value Shares Per Share (in years) (in thousands) Balance as of January 31, 2018 1,801,232 $ 6.09 6.2 $ 8,270 Granted 100,000 $ 11.75 Exercised (169,962 ) $ 5.87 Canceled (24,425 ) $ 9.48 Balance as of October 31, 2018 1,706,845 $ 6.40 5.7 $ 14,750 Vested and exercisable as of October 31, 2018 1,503,097 $ 5.76 5.3 $ 13,948 The aggregate intrinsic value of vested options exercised during the nine months ended October 31, 2018 and 2017 was $1.2 million and $0.3 million, respectively. The weighted average grant date fair value of options granted during the nine months ended October 31, 2018 and 2017 was $5.28 and $4.81, respectively. RSU activity for the nine months ended October 31, 2018 was as follows: Number of Shares Weighted Average Grant-Date Fair Value Per Share Balance as of January 31, 2018 1,966,895 $ 8.85 Granted 1,132,647 $ 11.87 Vested (708,636 ) $ 8.99 Canceled (271,461 ) $ 9.52 Balance as of October 31, 2018 2,119,445 $ 10.34 Employee Stock Purchase Plan. The 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 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. During the nine months ended October 31, 2018 and 2017, employees purchased approximately 0.3 million and 0.3 million shares, respectively, at a weighted average purchase price of $6.82 and $5.48 per share, respectively. |
Stock-Based Compensation
Stock-Based Compensation | 9 Months Ended |
Oct. 31, 2018 | |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | |
Stock-Based Compensation | Note 7. Stock-Based Compensation Total stock-based compensation recognized for stock-based awards in the condensed consolidated statements of operations was as follows (in thousands): Three Months Ended Nine Months Ended October 31, 2018 October 31, 2017 October 31, 2018 October 31, 2017 Cost of revenue $ 243 $ 251 $ 677 $ 909 Sales and marketing 350 390 1,065 1,406 Research and development 970 1,005 2,803 3,221 General and administrative 1,095 989 3,189 3,190 Total stock-based compensation expense $ 2,658 $ 2,635 $ 7,734 $ 8,726 As of October 31, 2018, there was $22.5 million of unrecognized stock-based compensation expense related to unvested RSUs, stock options and ESPP that will be recognized on a straight-line basis over the remaining weighted-average vesting period of approximately 2.5 years . The fair value of employee stock options and ESPP was estimated using the Black–Scholes model with the following assumptions: Three and Nine Months Ended October 31, 2018 October 31, 2017 Stock Options: Expected volatility 43% 47% Expected term (in years) 6.1 6.1 Risk-free interest rate 2.7% 1.8%-2.1% Dividend yield —% —% Three Months Ended Nine Months Ended October 31, 2018 October 31, 2017 October 31, 2018 October 31, 2017 ESPP: Expected volatility 39%-51% 35%-41% 39%-56% 35%-41% Expected term (in years) 0.5-2.0 0.5-2.0 0.5-2.0 0.5-2.0 Risk-free interest rate 2.3%-2.8% 0.9%-1.4% 2.0%-2.8% 0.9%-1.4% Dividend yield —% —% —% —% |
Income Taxes
Income Taxes | 9 Months Ended |
Oct. 31, 2018 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | Note 8: Income Taxes The Company recorded an income tax benefit of $0.1 million and $0.3 million during the three and nine months ended October 31, 2018, primarily associated with the Company’s acquisition of Voxter, a corporation incorporated in British Columbia, Canada. See Note 11: Business Acquisition , Uncertain Tax Positions As of October 31, 2018, the Company had unrecognized tax benefits of $3.5 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 , 2018 , 2018 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. U.S. Tax Reform On December 22, 2017, the United States enacted the Tax Cuts and Jobs Act (the “Tax Act”), which contained significant changes to U.S. tax law, including: a permanent reduction in the U.S. corporate tax rate from 35% to 21%, effective January 1, 2018; implementing a territorial tax system; and imposing a one-time tax on deemed repatriated earnings of foreign subsidiaries. As a result of the reduction in the corporate income tax rate, the Company revaluated its net deferred tax assets as of January 31, 2018. The revaluation resulted in no impact to the Company’s tax provision due to the Company’s deferred tax assets being fully offset by a valuation allowance. While the Tax Act provides a territorial tax system, beginning in calendar year 2018, it also included two new U.S. tax base erosion provisions, the global intangible low-taxed income (GILTI) provision and the base-erosion and anti-abuse tax (BEAT) provision. The GILTI provision requires the Company to include in its U.S. income tax return foreign subsidiary earnings in excess of an allowable return on the foreign subsidiary’s tangible assets. The BEAT provision eliminates the deduction of certain base-erosion payments made to related foreign corporations and imposes a minimum tax if greater than regular tax. The Company does not expect the GILTI or BEAT provisions to result in significant additional U.S. taxes in fiscal 2019. On December 22, 2017, the SEC staff issued Staff Accounting Bulletin No. 118 (“SAB 118”) to address the application of U.S. GAAP in situations when a registrant does not have the necessary information available, prepared, or analyzed (including computations) in reasonable detail to complete the accounting for certain income tax effects of the Tax Act. The Company has recognized the provisional tax impact related to the revaluation of deferred tax assets and liabilities to the extent identified. The ultimate impact may differ materially from these provisional amounts due to, among other things, additional analysis, changes in interpretations and assumptions the Company has made, additional regulatory guidance that may be issued, and actions the Company may take as a result of the Tax Act. |
Basic and Diluted Net Loss Per
Basic and Diluted Net Loss Per Share | 9 Months Ended |
Oct. 31, 2018 | |
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 because the effects of potentially dilutive securities are antidilutive as the Company reported net losses for all periods presented. 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 Nine Months Ended October 31, 2018 October 31, 2017 October 31, 2018 October 31, 2017 Numerator Net loss $ (3,494 ) $ (3,179 ) $ (11,083 ) $ (10,194 ) Denominator Weighted-average common shares 19,962,735 18,725,286 19,655,727 18,407,817 Basic and diluted net loss per share $ (0.18 ) $ (0.17 ) $ (0.56 ) $ (0.55 ) Potentially dilutive securities of approximately 4.1 million and 4.2 million were excluded from the computation of diluted net loss per share for the three and nine months ended October 31, 2018 and 2017, respectively, and included the Company’s RSUs, stock options and shares to be purchased under the ESPP. |
Related Party Transaction
Related Party Transaction | 9 Months Ended |
Oct. 31, 2018 | |
Related Party Transactions [Abstract] | |
Related Party Transaction | Note 10: Related Party Transactions In October 2017, the Company entered into an office sublease agreement with Fiserv Solutions, LLC (“Fiserv”) to lease approximately 33,400 rentable square feet of an office building located in Sunnyvale, California , the Company’s corporate headquarters. One of the members of Ooma’s board of directors is also a current member of Fiserv’s board of directors. The Company incurred rent expense of approximately $0.2 million and $0.5 million, respectively, for the three and nine months ended October 31, 2018 under this agreement. |
Business Acquisition
Business Acquisition | 9 Months Ended |
Oct. 31, 2018 | |
Business Combinations [Abstract] | |
Business Acquisition | Note 11: Business Acquisition On March 12, 2018, the Company completed its acquisition of Voxter, a privately-held provider of UCaaS offerings for mid-market and enterprise businesses. The acquisition date fair value consideration transferred for Voxter was approximately $3.9 million, which consisted of the following (in thousands): Fair Value Cash paid at closing $ 2,510 Common stock issued at closing 390 Holdback payable (1) 780 Contingent consideration (2) 231 Total $ 3,911 (1) (2 ) The final purchase price allocation included identifiable intangible assets of approximately $2.1 million, net assets acquired of approximately $0.4 million, deferred tax liabilities of approximately $0.4 million and residual goodwill of approximately $1.9 million, based on the best estimates of management. See Note 4: Balance Sheet Components above. Acquisition-related transaction costs charged to expense during the nine months ended October 31, 2018 was $0.4 million. The goodwill Goodwill is not expected to be deductible for U.S. or Canadian income tax purposes. The operating results of the acquired company have been included in the Company's consolidated financial statements from the date of acquisition. Actual and pro forma results of operations for the Voxter acquisition have not been presented because it does not have a material impact on the Company's consolidated results of operations. |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 9 Months Ended |
Oct. 31, 2018 | |
Accounting Policies [Abstract] | |
Fiscal Year | Fiscal Year. The Company’s fiscal year ends on January 31. References to fiscal 2019 and fiscal 2018 refer to the fiscal year ending January 31, 2019 and the fiscal year ended January 31, 2018, respectively. |
Principles of Presentation and Consolidation | Principles of Presentation and Consolidation 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 audited consolidated financial statements and accompanying notes included in the Company’s Annual Report on Form 10-K for the year ended January 31, 2018 (“Annual Report”). 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, inventory valuation, deferred commissions, valuation of goodwill and intangible assets, regulatory fees and indirect tax accruals, loss contingencies, 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. |
Comprehensive Loss | Comprehensive Loss. For all periods presented, comprehensive loss approximated net loss in the condensed consolidated statements of operations. Therefore, the condensed consolidated statements of comprehensive loss have been omitted. |
Recently Adopted Accounting Standards | Recently Adopted Accounting Standards Revenue recognition. In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2014-09, Revenue from Contracts with Customers ( Topic 606 ), which superseded the revenue recognition guidance in Topic 605 with a comprehensive revenue measurement and recognition standard and expanded disclosure requirements. Topic 606 also includes Subtopic 340-40, Other Assets and Deferred Costs – Contracts with Customers , which requires the deferral of incremental costs to acquire customer contracts, including sales commissions. The Company adopted the new standard effective February 1, 2018 under the modified retrospective method. The Company has implemented policies, processes and controls to support the standard's measurement and disclosure requirements. See Note 2: Revenue , Deferred Revenue and Commissions for disclosure on the impact of adopting this standard and updated accounting policies. Goodwill. The Company early adopted ASU 2017-04, Intangibles – Goodwill and Other (Topic 350) in the first quarter of fiscal 2019. The updated standard eliminated the requirement to calculate the implied fair value of goodwill to measure a goodwill impairment charge. Instead, an impairment charge will be based on the excess of a reporting unit's carrying amount over its fair value. The adoption of this standard had no impact on the Company’s condensed consolidated financial statements. Business Combinations. The Company adopted ASU 2017-01, Business Combinations (Topic 805) – Clarifying the Definition of a Business in the first quarter of fiscal 2019. The updated standard provided guidance to assist entities in evaluating when a set of transferred assets and activities constitutes a business. To be considered a business, an acquisition would have to include an input and a substantive process that together significantly contribute to the ability to create outputs. The adoption of this standard had no impact on the Company’s condensed consolidated financial statements. |
Accounting Standards Not Yet Adopted | Accounting Standards Not Yet Adopted Leases . In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) which supersedes the lease accounting requirements in Topic 840 and requires that lessees recognize a right-of-use asset and a lease liability on the balance sheet for all leases, with the exception of short-term leases. The standard also requires qualitative and quantitative disclosures to help investors and other readers of the financial statements to better understand the amount, timing and uncertainty of cash flows arising from leases. The Company will adopt Topic 842 in the first quarter of fiscal 2020, utilizing the optional transition method, whereby it will not be adjusting comparative period financial statements for the new standard. The Company continues to make progress in evaluating potential lease arrangements under Topic 842. The Company believes the most significant impact upon adoption of Topic 842 will be the recognition of right-of-use assets and lease liabilities that were not previously recognized, which will increase total assets and liabilities on its consolidated balance sheets. The Company does not expect the adoption to have a material impact on its consolidated statements of operations. Stock-based Compensation . In June 2018, the FASB issued ASU 2018-07, Compensation – Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting, which expands the scope of Topic 718 to include and simplify the accounting for share-based payments issued to nonemployees. Under the amended standard, most of the guidance on nonemployee share-based payments would be aligned with the requirements for share-based payments granted to employees. The new standard will become effective for the Company beginning in fiscal 2020. The Company does not expect the adoption to have a material impact on its consolidated financial statements. Fair Value Measurement. In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework – Changes to the Disclosure Requirements for Fair Value Measurements, which expands the disclosure requirements for Level 3 fair value measurements as well as eliminates, adds and modifies certain other disclosure requirements for fair value measurements. The amendment will become effective for the Company beginning in fiscal 2020. The Company is evaluating the effect of adoption on its consolidated financial statements. |
Revenue, Deferred Revenue and_2
Revenue, Deferred Revenue and Commissions (Tables) | 9 Months Ended |
Oct. 31, 2018 | |
Summary of Revenue Disaggregated by Revenue Source | Revenue disaggregated by revenue source consisted of the following (in thousands): Three Months Ended Nine Months Ended October 31, 2018 October 31, 2017 October 31, 2018 October 31, 2017 Subscription and services revenue $ 29,794 $ 25,524 $ 85,532 $ 74,830 Product and other revenue 2,814 2,981 8,979 9,440 Total revenue $ 32,608 $ 28,505 $ 94,511 $ 84,270 |
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, 2018 January 31, 2018 Customer A 18 % 10 % Customer B 17 % * * Represented less than 10% of accounts receivable, net at the end of respective periods |
Components of Deferred Revenue | As of October 31, 2018 January 31, 2018 Subscription and services $ 15,375 $ 14,568 Product and other 62 1,416 Total deferred revenue 15,437 15,984 Less: current deferred revenue 15,098 15,556 Noncurrent deferred revenue included in other long-term liabilities $ 339 $ 428 |
Topic 606 | |
Summary of Impact of Adopting Topic 606 on Condensed Consolidated Statement of Operations and Balance Sheet | The following tables summarize the impact of adopting Topic 606 on the Company’s condensed consolidated statement of operations and balance sheet (in thousands, except per share amounts): Statement of Operations: Three Months Ended October 31, 2018 As Reported Effect of Change Balances without adoption of Topic 606 Total revenue $ 32,608 $ (212 ) $ 32,396 Total cost of revenue 12,535 (507 ) 12,028 Gross profit 20,073 295 20,368 Sales and marketing expense 10,755 1,238 11,993 Net loss (3,494 ) (943 ) (4,437 ) Net loss per share - basic and diluted (0.18 ) (0.04 ) (0.22 ) Nine Months Ended October 31, 2018 As Reported Effect of Change Balances without adoption of Topic 606 Total revenue $ 94,511 $ (90 ) $ 94,421 Total cost of revenue 37,727 (394 ) 37,333 Gross profit 56,784 304 57,088 Sales and marketing expense 30,149 3,499 33,648 Net loss (11,083 ) (3,195 ) (14,278 ) Net loss per share - basic and diluted (0.56 ) (0.17 ) (0.73 ) Balance Sheet: As of October 31, 2018 As Reported Effect of Change Balances without adoption of Topic 606 Accounts receivable, net $ 2,880 $ 840 $ 3,720 Other current assets (1) 3,830 491 4,321 Other assets (2) 2,967 (2,688 ) 279 Accrued expenses (3) 17,471 (162 ) 17,309 Deferred revenue 15,098 1,695 16,793 Accumulated deficit (102,306 ) (2,890 ) (105,196 ) (1) Other current assets include deferred commissions and deferred inventory costs. (2) Other assets include non-current deferred commissions. (3) Accrued expenses include certain accrued sales incentives. |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 9 Months Ended |
Oct. 31, 2018 | |
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 were as follows (in thousands): Balance as of October 31, 2018 Balance as of January 31, 2018 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Assets: Cash and cash equivalents: Money market funds $ 4,947 $ — $ — $ 4,947 $ 554 $ — $ — $ 554 U.S. government securities 997 — — 997 — — — — Commercial paper — 899 — 899 — 2,844 — 2,844 Total cash equivalents $ 5,944 $ 899 $ — $ 6,843 $ 554 $ 2,844 $ — $ 3,398 Cash 6,513 1,085 Total cash and cash equivalents $ 13,356 $ 4,483 Short-term investments: U.S. government securities $ 13,870 $ — $ — $ 13,870 $ 20,867 $ — $ — $ 20,867 Corporate debt securities — 7,617 — 7,617 — 13,895 — 13,895 Commercial paper — 9,755 — 9,755 — 9,272 — 9,272 U.S. agency securities — — — — — 1,996 — 1,996 Asset-backed securities — 2,285 — 2,285 — 1,277 — 1,277 Total short-term investments $ 13,870 $ 19,657 $ — $ 33,527 $ 20,867 $ 26,440 $ — $ 47,307 Liabilities: Contingent consideration $ — $ — $ 414 $ 414 $ — $ — $ 311 $ 311 Total liabilities $ — $ — $ 414 $ 414 $ — $ — $ 311 $ 311 |
Schedule of Changes in Level 3 Fair Value Category | Changes in the Level 3 fair value category for the periods presented were as follows (in thousands): Contingent Consideration Balance at January 31, 2018 $ 311 Add: Acquired contingent consideration 231 Changes in fair value (128 ) Balance at October 31, 2018 $ 414 |
Schedule of Short-term Investments by Contractual Maturities | The following table classifies the Company’s short-term investments by contractual maturities (in thousands): As of October 31, 2018 As of January 31, 2018 Amortized Value Fair Value Amortized Value Fair Value One year or less $ 33,561 $ 33,527 $ 43,227 $ 43,172 Over one year and less than two years — — 4,164 4,135 Total $ 33,561 $ 33,527 $ 47,391 $ 47,307 |
Balance Sheet Components (Table
Balance Sheet Components (Tables) | 9 Months Ended |
Oct. 31, 2018 | |
Balance Sheet Components [Abstract] | |
Components of Inventories | Inventories As of October 31, 2018 January 31, 2018 Raw material $ 5,547 $ 562 Finished goods 2,270 5,517 Total inventory $ 7,817 $ 6,079 |
Components of Other Current Assets | Other Current Assets As of October 31, 2018 January 31, 2018 Prepaid expenses $ 1,707 $ 1,921 Deferred sales commissions (1) 810 — Deferred inventory costs (1) 114 1,061 Other current assets 1,199 1,415 Total other current assets $ 3,830 $ 4,397 (1) Changes in deferred inventory costs and deferred sales commissions were attributable to the Company’s adoption of Topic 606 on February 1, 2018. See Note 2: Revenue, Deferred Revenue and Commissions |
Schedule of Carrying Value of Intangible Assets Other than Goodwill | As of October 31, 2018 As of January 31, 2018 Gross Value Accumulated Amortization Carrying Value Gross Value Accumulated Amortization Carrying Value Developed technology 2,560 (989 ) $ 1,571 $ 1,568 $ (630 ) $ 938 Customer relationships 902 (112 ) 790 — — — Trade name 451 (144 ) 307 262 (81 ) 181 Patents and licenses 714 (703 ) 11 714 (698 ) 16 User relationships 458 (458 ) — 458 (458 ) — Total amortizable assets 5,085 (2,406 ) 2,679 3,002 (1,867 ) 1,135 In-process R&D 157 — 157 157 — 157 Total intangible assets $ 5,242 $ (2,406 ) $ 2,836 $ 3,159 $ (1,867 ) $ 1,292 |
Schedule of Estimated Future Amortization Expense | At October 31, 2018, the estimated future amortization expense for intangible assets was as follows (in thousands): Fiscal Years Ending January 31, Total 2019 remainder $ 197 2020 651 2021 603 2022 599 2023 and thereafter 629 Total $ 2,679 |
Components of Accrued Expenses | Accrued Expenses As of October 31, 2018 January 31, 2018 Payroll and related expenses $ 6,174 $ 5,423 Regulatory fees and taxes 6,039 5,239 Acquisition-related consideration 1,180 353 Other 4,078 3,762 Total accrued expenses $ 17,471 $ 14,777 |
Stockholders' Equity (Tables)
Stockholders' Equity (Tables) | 9 Months Ended |
Oct. 31, 2018 | |
Equity [Abstract] | |
Summary of Changes in Stockholders' Equity | Changes in stockholders' equity for the nine months ended October 31, 2018 and 2017 were as follows (in thousands): Nine Months Ended October 31, 2018 Common stock Accumulated Stockholders' and APIC (1) AOCI (2) Deficit Equity BALANCE - January 31, 2018 $ 128,083 $ (84 ) $ (90,931 ) $ 37,068 Issuance of common stock under equity based plans 1,205 — — 1,205 Shares repurchased for tax withholdings on RSU (3) (759 ) — — (759 ) Issuance of common stock for business acquisition 390 — — 390 Stock-based compensation 2,314 — — 2,314 Other comprehensive loss — (1 ) — (1 ) Cumulative adjustment upon adoption of Topic 606 — — (292 ) (292 ) Net loss — — (3,685 ) (3,685 ) BALANCE - April 30, 2018 131,233 (85 ) (94,908 ) 36,240 Issuance of common stock under equity based plans 488 — — 488 Shares repurchased for tax withholdings on RSU vesting (441 ) — — (441 ) Stock-based compensation 2,762 — — 2,762 Other comprehensive loss — 36 — 36 Net loss — — (3,904 ) (3,904 ) BALANCE - July 31, 2018 134,042 (49 ) (98,812 ) 35,181 Issuance of common stock under equity based plans 1,118 — — 1,118 Shares repurchased for tax withholdings on RSU vesting (1,097 ) — — (1,097 ) Stock-based compensation 2,658 — — 2,658 Other comprehensive loss — 15 — 15 Net loss — — (3,494 ) (3,494 ) BALANCE - October 31, 2018 $ 136,721 $ (34 ) $ (102,306 ) $ 34,381 Nine Months Ended October 31, 2017 Common stock Accumulated Stockholders' and APIC (1) AOCI (2) Deficit Equity BALANCE - January 31, 2017 $ 117,641 $ (11 ) $ (77,810 ) $ 39,820 Issuance of common stock under equity based plans 875 — — 875 Shares repurchased for tax withholdings on RSU vesting (300 ) — — (300 ) Stock-based compensation 2,971 — — 2,971 Other comprehensive loss — (12 ) — (12 ) Net loss — — (3,392 ) (3,392 ) BALANCE - April 30, 2017 121,187 (23 ) (81,202 ) 39,962 Issuance of common stock under equity based plans 38 — — 38 Shares repurchased for tax withholdings on RSU vesting (203 ) — — (203 ) Stock-based compensation 3,120 — — 3,120 Other comprehensive loss — 3 — 3 Net loss — — (3,623 ) (3,623 ) BALANCE - July 31, 2017 124,142 (20 ) (84,825 ) 39,297 Issuance of common stock under equity based plans 991 — — 991 Shares repurchased for tax withholdings on RSU vesting (1,470 ) — — (1,470 ) Stock-based compensation 2,635 — — 2,635 Other comprehensive loss — (16 ) — (16 ) Net loss — — (3,179 ) (3,179 ) BALANCE - October 31, 2017 $ 126,298 $ (36 ) $ (88,004 ) $ 38,258 (1) Additional paid-in capital; (2) Accumulated other comprehensive loss; (3) Restricted stock unit |
Summarizes of Stock Option Activities | Stock option activity for the nine months ended October 31, 2018 was as follows: Weighted Average Weighted Average Aggregate Number of Exercise Price Contractual Term Intrinsic Value Shares Per Share (in years) (in thousands) Balance as of January 31, 2018 1,801,232 $ 6.09 6.2 $ 8,270 Granted 100,000 $ 11.75 Exercised (169,962 ) $ 5.87 Canceled (24,425 ) $ 9.48 Balance as of October 31, 2018 1,706,845 $ 6.40 5.7 $ 14,750 Vested and exercisable as of October 31, 2018 1,503,097 $ 5.76 5.3 $ 13,948 |
Summarizes of Restricted Stock Units Activities | RSU activity for the nine months ended October 31, 2018 was as follows: Number of Shares Weighted Average Grant-Date Fair Value Per Share Balance as of January 31, 2018 1,966,895 $ 8.85 Granted 1,132,647 $ 11.87 Vested (708,636 ) $ 8.99 Canceled (271,461 ) $ 9.52 Balance as of October 31, 2018 2,119,445 $ 10.34 |
Stock-Based Compensation (Table
Stock-Based Compensation (Tables) | 9 Months Ended |
Oct. 31, 2018 | |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | |
Total Stock-Based Compensation Recognized for Stock-Based Awards in Condensed Consolidated Statements of Operations | Total stock-based compensation recognized for stock-based awards in the condensed consolidated statements of operations was as follows (in thousands): Three Months Ended Nine Months Ended October 31, 2018 October 31, 2017 October 31, 2018 October 31, 2017 Cost of revenue $ 243 $ 251 $ 677 $ 909 Sales and marketing 350 390 1,065 1,406 Research and development 970 1,005 2,803 3,221 General and administrative 1,095 989 3,189 3,190 Total stock-based compensation expense $ 2,658 $ 2,635 $ 7,734 $ 8,726 |
Summary of Assumptions Used to Estimate Fair Value of Employee Stock Options Grants and Employee Stock Purchase Plan Using Black-Scholes Option Pricing Model | The fair value of employee stock options and ESPP was estimated using the Black–Scholes model with the following assumptions: Three and Nine Months Ended October 31, 2018 October 31, 2017 Stock Options: Expected volatility 43% 47% Expected term (in years) 6.1 6.1 Risk-free interest rate 2.7% 1.8%-2.1% Dividend yield —% —% Three Months Ended Nine Months Ended October 31, 2018 October 31, 2017 October 31, 2018 October 31, 2017 ESPP: Expected volatility 39%-51% 35%-41% 39%-56% 35%-41% Expected term (in years) 0.5-2.0 0.5-2.0 0.5-2.0 0.5-2.0 Risk-free interest rate 2.3%-2.8% 0.9%-1.4% 2.0%-2.8% 0.9%-1.4% Dividend yield —% —% —% —% |
Basic and Diluted Net Loss Pe_2
Basic and Diluted Net Loss Per Share (Tables) | 9 Months Ended |
Oct. 31, 2018 | |
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 Nine Months Ended October 31, 2018 October 31, 2017 October 31, 2018 October 31, 2017 Numerator Net loss $ (3,494 ) $ (3,179 ) $ (11,083 ) $ (10,194 ) Denominator Weighted-average common shares 19,962,735 18,725,286 19,655,727 18,407,817 Basic and diluted net loss per share $ (0.18 ) $ (0.17 ) $ (0.56 ) $ (0.55 ) |
Business Acquisition (Tables)
Business Acquisition (Tables) | 9 Months Ended |
Oct. 31, 2018 | |
Business Combinations [Abstract] | |
Schedule of Fair Value of Consideration Transferred | The acquisition date fair value consideration transferred for Voxter was approximately $3.9 million, which consisted of the following (in thousands): Fair Value Cash paid at closing $ 2,510 Common stock issued at closing 390 Holdback payable (1) 780 Contingent consideration (2) 231 Total $ 3,911 (1) (2 ) |
Revenue, Deferred Revenue and_3
Revenue, Deferred Revenue and Commissions - Additional Information (Details) | Feb. 01, 2018USD ($) | Oct. 31, 2018USD ($)CountryCustomer | Oct. 31, 2017CountryCustomer | Oct. 31, 2018USD ($)SourceCountryCustomer | Oct. 31, 2017USD ($)CountryCustomer | Jan. 31, 2018USD ($) |
Disaggregation Of Revenue [Line Items] | ||||||
Net decrease in deferred revenue | $ 1,000,000 | |||||
Net increase to accumulated deficit due to adoption of new standard | $ 300,000 | |||||
Net cash provided by or used in operating activities | $ (1,805,000) | $ 2,379,000 | ||||
Net cash provided by or used in investing activities | $ 10,213,000 | $ (1,318,000) | ||||
Number of sources of revenue | Source | 2 | |||||
Number of countries outside United States represented 10% or more of total revenue | Country | 0 | 0 | 0 | 0 | ||
Number of customers that individually exceeded 10% of revenue | Customer | 0 | 0 | 0 | 0 | ||
Allowances for product returns and customer sales incentives | $ 800,000 | $ 600,000 | ||||
Allowances for doubtful accounts | $ 100,000 | $ 100,000 | $ 100,000 | |||
Estimated customer life | 5 years | |||||
Deferred commission costs | 3,500,000 | $ 3,500,000 | ||||
Deferred commission costs current | 800,000 | 800,000 | ||||
Deferred commission costs non current | 2,700,000 | 2,700,000 | ||||
Amortization expense | 200,000 | 400,000 | ||||
Impairment loss in relation to deferred commission costs capitalized | 0 | |||||
Deferred revenue recognized | 2,200,000 | 14,400,000 | ||||
Revenue expected to be recognized from remaining performance obligations | $ 800,000 | 800,000 | ||||
Adjustment | Topic 606 | ||||||
Disaggregation Of Revenue [Line Items] | ||||||
Net cash provided by or used in operating activities | 0 | |||||
Net cash provided by or used in investing activities | $ 0 |
Revenue, Deferred Revenue and_4
Revenue, Deferred Revenue and Commissions - Summary of Impact of Adopting Topic 606 on Condensed Consolidated Statement of Operations (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 9 Months Ended | ||||||
Oct. 31, 2018 | Jul. 31, 2018 | Apr. 30, 2018 | Oct. 31, 2017 | Jul. 31, 2017 | Apr. 30, 2017 | Oct. 31, 2018 | Oct. 31, 2017 | |
Disaggregation Of Revenue [Line Items] | ||||||||
Total revenue | $ 32,608 | $ 28,505 | $ 94,511 | $ 84,270 | ||||
Total cost of revenue | 12,535 | 11,339 | 37,727 | 34,490 | ||||
Gross profit | 20,073 | 17,166 | 56,784 | 49,780 | ||||
Sales and marketing | 10,755 | 9,127 | 30,149 | 27,526 | ||||
Net loss | $ (3,494) | $ (3,904) | $ (3,685) | $ (3,179) | $ (3,623) | $ (3,392) | $ (11,083) | $ (10,194) |
Basic and diluted | $ (0.18) | $ (0.17) | $ (0.56) | $ (0.55) | ||||
Effect of Change | Topic 606 | ||||||||
Disaggregation Of Revenue [Line Items] | ||||||||
Total revenue | $ (212) | $ (90) | ||||||
Total cost of revenue | (507) | (394) | ||||||
Gross profit | 295 | 304 | ||||||
Sales and marketing | 1,238 | 3,499 | ||||||
Net loss | $ (943) | $ (3,195) | ||||||
Basic and diluted | $ (0.04) | $ (0.17) | ||||||
Balances Without Adoption of Topic 606 | Topic 606 | ||||||||
Disaggregation Of Revenue [Line Items] | ||||||||
Total revenue | $ 32,396 | $ 94,421 | ||||||
Total cost of revenue | 12,028 | 37,333 | ||||||
Gross profit | 20,368 | 57,088 | ||||||
Sales and marketing | 11,993 | 33,648 | ||||||
Net loss | $ (4,437) | $ (14,278) | ||||||
Basic and diluted | $ (0.22) | $ (0.73) |
Revenue, Deferred Revenue and_5
Revenue, Deferred Revenue and Commissions - Summary of Impact of Adopting Topic 606 on Condensed Consolidated Statement of Balance Sheet (Details) - USD ($) $ in Thousands | Oct. 31, 2018 | Jan. 31, 2018 |
Disaggregation Of Revenue [Line Items] | ||
Accounts receivable, net | $ 2,880 | $ 2,858 |
Other current assets | 3,830 | 4,397 |
Other assets | 2,967 | 336 |
Accrued expenses | 17,471 | 14,777 |
Deferred revenue | 15,098 | 15,556 |
Accumulated deficit | (102,306) | $ (90,931) |
Effect of Change | Topic 606 | ||
Disaggregation Of Revenue [Line Items] | ||
Accounts receivable, net | 840 | |
Other current assets | 491 | |
Other assets | (2,688) | |
Accrued expenses | (162) | |
Deferred revenue | 1,695 | |
Accumulated deficit | (2,890) | |
Balances Without Adoption of Topic 606 | Topic 606 | ||
Disaggregation Of Revenue [Line Items] | ||
Accounts receivable, net | 3,720 | |
Other current assets | 4,321 | |
Other assets | 279 | |
Accrued expenses | 17,309 | |
Deferred revenue | 16,793 | |
Accumulated deficit | $ (105,196) |
Revenue, Deferred Revenue and_6
Revenue, Deferred Revenue and Commissions - Summary of Revenue Disaggregated by Revenue Source (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Oct. 31, 2018 | Oct. 31, 2017 | Oct. 31, 2018 | Oct. 31, 2017 | |
Disaggregation Of Revenue [Line Items] | ||||
Total revenue | $ 32,608 | $ 28,505 | $ 94,511 | $ 84,270 |
Subscription and services revenue | ||||
Disaggregation Of Revenue [Line Items] | ||||
Total revenue | 29,794 | 25,524 | 85,532 | 74,830 |
Product and other revenue | ||||
Disaggregation Of Revenue [Line Items] | ||||
Total revenue | $ 2,814 | $ 2,981 | $ 8,979 | $ 9,440 |
Revenue, Deferred Revenue and_7
Revenue, Deferred Revenue and Commissions - Concentration of Net Accounts Receivable Balance (Details) - Accounts Receivable - Customer Concentration Risk | 9 Months Ended | 12 Months Ended |
Oct. 31, 2018 | Jan. 31, 2018 | |
Customer A | ||
Concentration Risk [Line Items] | ||
Concentration risk percentage | 18.00% | 10.00% |
Customer B | ||
Concentration Risk [Line Items] | ||
Concentration risk percentage | 17.00% |
Revenue, Deferred Revenue and_8
Revenue, Deferred Revenue and Commissions - Components of Deferred Revenue (Details) - USD ($) $ in Thousands | Oct. 31, 2018 | Jan. 31, 2018 |
Deferred Revenue Arrangement [Line Items] | ||
Deferred revenue | $ 15,437 | $ 15,984 |
Less: current deferred revenue | 15,098 | 15,556 |
Noncurrent deferred revenue included in other long-term liabilities | 339 | 428 |
Subscription and Services | ||
Deferred Revenue Arrangement [Line Items] | ||
Deferred revenue | 15,375 | 14,568 |
Product and Other | ||
Deferred Revenue Arrangement [Line Items] | ||
Deferred revenue | $ 62 | $ 1,416 |
Revenue, Deferred Revenue and_9
Revenue, Deferred Revenue and Commissions - Additional Information (Details 1) $ in Millions | Oct. 31, 2018USD ($) |
Disaggregation Of Revenue [Line Items] | |
Revenue expected to be recognized from remaining performance obligations | $ 0.8 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2018-11-01 | |
Disaggregation Of Revenue [Line Items] | |
Revenue expected to be recognized from remaining performance obligations | $ 0.4 |
Revenue expected to be recognized from remaining performance obligations, period | 12 months |
Fair Value Measurements - Sched
Fair Value Measurements - Schedule of Financial Assets and Liabilities at Fair Value (Details) - USD ($) $ in Thousands | Oct. 31, 2018 | Jan. 31, 2018 |
Assets: | ||
Total cash and cash equivalents | $ 13,356 | $ 4,483 |
Total short-term investments | 33,527 | 47,307 |
Liabilities: | ||
Total liabilities | 414 | 311 |
U.S. Government Securities | ||
Assets: | ||
Total short-term investments | 13,870 | 20,867 |
Commercial Paper | ||
Assets: | ||
Total short-term investments | 9,755 | 9,272 |
Corporate Debt Securities | ||
Assets: | ||
Total short-term investments | 7,617 | 13,895 |
U.S. Agency Securities | ||
Assets: | ||
Total short-term investments | 1,996 | |
Asset-backed Securities | ||
Assets: | ||
Total short-term investments | 2,285 | 1,277 |
Cash Equivalents | ||
Assets: | ||
Total cash and cash equivalents | 6,843 | 3,398 |
Cash Equivalents | U.S. Government Securities | ||
Assets: | ||
Total cash and cash equivalents | 997 | |
Cash Equivalents | Commercial Paper | ||
Assets: | ||
Total cash and cash equivalents | 899 | 2,844 |
Cash Equivalents | Money Market Funds | ||
Assets: | ||
Total cash and cash equivalents | 4,947 | 554 |
Cash | ||
Assets: | ||
Total cash and cash equivalents | 6,513 | 1,085 |
Level 1 | ||
Assets: | ||
Total short-term investments | 13,870 | 20,867 |
Level 1 | U.S. Government Securities | ||
Assets: | ||
Total short-term investments | 13,870 | 20,867 |
Level 1 | Cash Equivalents | ||
Assets: | ||
Total cash and cash equivalents | 5,944 | 554 |
Level 1 | Cash Equivalents | U.S. Government Securities | ||
Assets: | ||
Total cash and cash equivalents | 997 | |
Level 1 | Cash Equivalents | Money Market Funds | ||
Assets: | ||
Total cash and cash equivalents | 4,947 | 554 |
Level 2 | ||
Assets: | ||
Total short-term investments | 19,657 | 26,440 |
Level 2 | Commercial Paper | ||
Assets: | ||
Total short-term investments | 9,755 | 9,272 |
Level 2 | Corporate Debt Securities | ||
Assets: | ||
Total short-term investments | 7,617 | 13,895 |
Level 2 | U.S. Agency Securities | ||
Assets: | ||
Total short-term investments | 1,996 | |
Level 2 | Asset-backed Securities | ||
Assets: | ||
Total short-term investments | 2,285 | 1,277 |
Level 2 | Cash Equivalents | ||
Assets: | ||
Total cash and cash equivalents | 899 | 2,844 |
Level 2 | Cash Equivalents | Commercial Paper | ||
Assets: | ||
Total cash and cash equivalents | 899 | 2,844 |
Level 3 | ||
Liabilities: | ||
Total liabilities | 414 | 311 |
Contingent Consideration | ||
Liabilities: | ||
Total liabilities | 414 | 311 |
Contingent Consideration | Level 3 | ||
Liabilities: | ||
Total liabilities | $ 414 | $ 311 |
Fair Value Measurements - Addit
Fair Value Measurements - Additional Information (Details) - USD ($) $ in Thousands | 9 Months Ended | |
Oct. 31, 2018 | Jan. 31, 2018 | |
Fair Value Disclosures [Abstract] | ||
Financial assets, level 2 to level 1 transfers, amount | $ 0 | $ 0 |
Financial assets, level 1 to level 2 transfers, amount | 0 | 0 |
Financial liabilities, level 2 to level 1 transfers, amount | 0 | 0 |
Financial liabilities, level 1 to level 2 transfers, amount | 0 | $ 0 |
Investments other-than-temporarily impaired | $ 0 |
Fair Value Measurement - Schedu
Fair Value Measurement - Schedule of Changes in Level 3 Fair Value Category (Details) $ in Thousands | 9 Months Ended |
Oct. 31, 2018USD ($) | |
Fair Value Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items] | |
Beginning Balance | $ 311 |
Add: Acquired contingent consideration | 231 |
Changes in fair value | (128) |
Ending Balance | 414 |
Contingent Consideration | |
Fair Value Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items] | |
Beginning Balance | 311 |
Ending Balance | 414 |
Level 3 | |
Fair Value Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items] | |
Beginning Balance | 311 |
Ending Balance | 414 |
Level 3 | Contingent Consideration | |
Fair Value Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items] | |
Beginning Balance | 311 |
Add: Acquired contingent consideration | 231 |
Changes in fair value | (128) |
Ending Balance | $ 414 |
Fair Value Measurements - Sch_2
Fair Value Measurements - Schedule of Short-term Investments by Contractual Maturities (Details) - Short-term Investments - USD ($) $ in Thousands | Oct. 31, 2018 | Jan. 31, 2018 |
Schedule Of Available For Sale Securities [Line Items] | ||
One year or less, Amortized Value | $ 33,561 | $ 43,227 |
Over one year and less than two years, Amortized Value | 4,164 | |
Short-term Investments, Amortized Value | 33,561 | 47,391 |
One year or less, fair value | 33,527 | 43,172 |
Over one year and less than two years, fair value | 4,135 | |
Short-term Investments, Fair Value | $ 33,527 | $ 47,307 |
Balance Sheet Components - Comp
Balance Sheet Components - Components of Inventories (Details) - USD ($) $ in Thousands | Oct. 31, 2018 | Jan. 31, 2018 |
Inventory Disclosure [Abstract] | ||
Raw material | $ 5,547 | $ 562 |
Finished goods | 2,270 | 5,517 |
Total inventory | $ 7,817 | $ 6,079 |
Balance Sheet Components - Co_2
Balance Sheet Components - Components of Other Current Assets (Details) - USD ($) $ in Thousands | Oct. 31, 2018 | Jan. 31, 2018 |
Prepaid Expense And Other Assets Current [Abstract] | ||
Prepaid expenses | $ 1,707 | $ 1,921 |
Deferred sales commissions | 810 | |
Deferred inventory costs | 114 | 1,061 |
Other current assets | 1,199 | 1,415 |
Total other current assets | $ 3,830 | $ 4,397 |
Balance Sheet Components - Addi
Balance Sheet Components - Additional Information (Details) - USD ($) $ in Thousands | Mar. 12, 2018 | Oct. 31, 2018 | Jan. 31, 2018 |
Finite Lived Intangible Assets [Line Items] | |||
Goodwill | $ 3,803 | $ 1,947 | |
Voxter Communications Inc. | |||
Finite Lived Intangible Assets [Line Items] | |||
Goodwill | $ 1,900 | ||
Intangible assets recognized from acquisition | 2,100 | ||
Goodwill recognized from acquisition | $ 1,900 |
Balance Sheet Components - Summ
Balance Sheet Components - Summary of Carrying Values of Intangible Assets Other than Goodwill (Details) - USD ($) $ in Thousands | Oct. 31, 2018 | Jan. 31, 2018 |
Finite Lived Intangible Assets [Line Items] | ||
Gross Value, Amortizable Intangible Assets | $ 5,085 | $ 3,002 |
Accumulated Amortization, Amortizable Intangible Assets | (2,406) | (1,867) |
Carrying Value, Amortizable Intangible Assets | 2,679 | 1,135 |
Gross Value | 5,242 | 3,159 |
Accumulated Amortization | (2,406) | (1,867) |
Carrying Value | 2,836 | 1,292 |
In-process R&D | ||
Finite Lived Intangible Assets [Line Items] | ||
Carrying Value | 157 | 157 |
Developed technology | ||
Finite Lived Intangible Assets [Line Items] | ||
Gross Value, Amortizable Intangible Assets | 2,560 | 1,568 |
Accumulated Amortization, Amortizable Intangible Assets | (989) | (630) |
Carrying Value, Amortizable Intangible Assets | 1,571 | 938 |
Customer relationships | ||
Finite Lived Intangible Assets [Line Items] | ||
Gross Value, Amortizable Intangible Assets | 902 | |
Accumulated Amortization, Amortizable Intangible Assets | (112) | |
Carrying Value, Amortizable Intangible Assets | 790 | |
Trade name | ||
Finite Lived Intangible Assets [Line Items] | ||
Gross Value, Amortizable Intangible Assets | 451 | 262 |
Accumulated Amortization, Amortizable Intangible Assets | (144) | (81) |
Carrying Value, Amortizable Intangible Assets | 307 | 181 |
Patents and licenses | ||
Finite Lived Intangible Assets [Line Items] | ||
Gross Value, Amortizable Intangible Assets | 714 | 714 |
Accumulated Amortization, Amortizable Intangible Assets | (703) | (698) |
Carrying Value, Amortizable Intangible Assets | 11 | 16 |
User relationships | ||
Finite Lived Intangible Assets [Line Items] | ||
Gross Value, Amortizable Intangible Assets | 458 | 458 |
Accumulated Amortization, Amortizable Intangible Assets | $ (458) | $ (458) |
Balance Sheet Components - Sche
Balance Sheet Components - Schedule of Estimated Future Amortization Expense for Intangible Assets (Details) - USD ($) $ in Thousands | Oct. 31, 2018 | Jan. 31, 2018 |
Goodwill And Intangible Assets Disclosure [Abstract] | ||
2019 remainder | $ 197 | |
2,020 | 651 | |
2,021 | 603 | |
2,022 | 599 | |
2023 and thereafter | 629 | |
Carrying Value, Amortizable Intangible Assets | $ 2,679 | $ 1,135 |
Balance Sheet Components - Co_3
Balance Sheet Components - Components of Accrued Expenses (Details) - USD ($) $ in Thousands | Oct. 31, 2018 | Jan. 31, 2018 |
Payables And Accruals [Abstract] | ||
Payroll and related expenses | $ 6,174 | $ 5,423 |
Regulatory fees and taxes | 6,039 | 5,239 |
Acquisition-related consideration | 1,180 | 353 |
Other | 4,078 | 3,762 |
Total accrued expenses | $ 17,471 | $ 14,777 |
Commitments and Contingencies -
Commitments and Contingencies - Additional Information (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Oct. 31, 2018 | Oct. 31, 2017 | Oct. 31, 2018 | Oct. 31, 2017 | Jan. 31, 2018 | |
Commitments And Contingencies Disclosure [Line Items] | |||||
Rent expense | $ 0.6 | $ 0.4 | $ 1.9 | $ 1.2 | |
Future minimum rental commitments under noncancelable operating leases | 3.5 | 3.5 | $ 4.3 | ||
Non-cancelable purchase commitments | 6.4 | 6.4 | $ 3.3 | ||
Tax litigation amount | 0.6 | ||||
Cumulative charges of litigation loss | 0.3 | ||||
Other current assets | |||||
Commitments And Contingencies Disclosure [Line Items] | |||||
Amount of receivables in other current assets | $ 0.3 | $ 0.3 |
Stockholders' Equity - Summary
Stockholders' Equity - Summary of Changes in Stockholders' Equity (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||||||
Oct. 31, 2018 | Jul. 31, 2018 | Apr. 30, 2018 | Oct. 31, 2017 | Jul. 31, 2017 | Apr. 30, 2017 | Oct. 31, 2018 | Oct. 31, 2017 | |
Stockholders Equity Note Disclosure [Line Items] | ||||||||
BALANCE | $ 35,181 | $ 36,240 | $ 37,068 | $ 39,297 | $ 39,962 | $ 39,820 | $ 37,068 | $ 39,820 |
Issuance of common stock under equity based plans | 1,118 | 488 | 1,205 | 991 | 38 | 875 | ||
Shares repurchased for tax withholdings on RSU vesting | (1,097) | (441) | (759) | (1,470) | (203) | (300) | ||
Issuance of common stock for business acquisition | 390 | |||||||
Stock-based compensation | 2,658 | 2,762 | 2,314 | 2,635 | 3,120 | 2,971 | ||
Other comprehensive loss | 15 | 36 | (1) | (16) | 3 | (12) | ||
Cumulative adjustment upon adoption of Topic 606 | (292) | |||||||
Net loss | (3,494) | (3,904) | (3,685) | (3,179) | (3,623) | (3,392) | (11,083) | (10,194) |
BALANCE | 34,381 | 35,181 | 36,240 | 38,258 | 39,297 | 39,962 | 34,381 | 38,258 |
Common Stock and APIC | ||||||||
Stockholders Equity Note Disclosure [Line Items] | ||||||||
BALANCE | 134,042 | 131,233 | 128,083 | 124,142 | 121,187 | 117,641 | 128,083 | 117,641 |
Issuance of common stock under equity based plans | 1,118 | 488 | 1,205 | 991 | 38 | 875 | ||
Shares repurchased for tax withholdings on RSU vesting | (1,097) | (441) | (759) | (1,470) | (203) | (300) | ||
Issuance of common stock for business acquisition | 390 | |||||||
Stock-based compensation | 2,658 | 2,762 | 2,314 | 2,635 | 3,120 | 2,971 | ||
BALANCE | 136,721 | 134,042 | 131,233 | 126,298 | 124,142 | 121,187 | 136,721 | 126,298 |
AOCI | ||||||||
Stockholders Equity Note Disclosure [Line Items] | ||||||||
BALANCE | (49) | (85) | (84) | (20) | (23) | (11) | (84) | (11) |
Other comprehensive loss | 15 | 36 | (1) | (16) | 3 | (12) | ||
BALANCE | (34) | (49) | (85) | (36) | (20) | (23) | (34) | (36) |
Accumulated Deficit | ||||||||
Stockholders Equity Note Disclosure [Line Items] | ||||||||
BALANCE | (98,812) | (94,908) | (90,931) | (84,825) | (81,202) | (77,810) | (90,931) | (77,810) |
Cumulative adjustment upon adoption of Topic 606 | (292) | |||||||
Net loss | (3,494) | (3,904) | (3,685) | (3,179) | (3,623) | (3,392) | ||
BALANCE | $ (102,306) | $ (98,812) | $ (94,908) | $ (88,004) | $ (84,825) | $ (81,202) | $ (102,306) | $ (88,004) |
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, 2018 | Jan. 31, 2018 | |
Number of Shares | ||
Number of Shares, Beginning balance | 1,801,232 | |
Number of Shares, Granted | 100,000 | |
Number of Shares, Exercised | (169,962) | |
Number of Shares, Canceled | (24,425) | |
Number of Shares, Ending balance | 1,706,845 | 1,801,232 |
Number of Shares, Vested and exercisable | 1,503,097 | |
Weighted Average Exercise Price Per Share | ||
Weighted Average Exercise Price Per Share, Beginning balance | $ 6.09 | |
Weighted Average Exercise Price Per Share, Granted | 11.75 | |
Weighted Average Exercise Price Per Share, Exercised | 5.87 | |
Weighted Average Exercise Price Per Share, Canceled | 9.48 | |
Weighted Average Exercise Price Per Share, Ending balance | 6.40 | $ 6.09 |
Weighted Average Exercise Price Per Share, Vested and exercisable | $ 5.76 | |
Weighted Average Contractual Term | ||
Weighted Average Contractual Term | 5 years 8 months 12 days | 6 years 2 months 12 days |
Weighted Average Contractual Term, Vested and exercisable | 5 years 3 months 18 days | |
Aggregate Intrinsic Value | ||
Aggregate Intrinsic Value | $ 14,750 | $ 8,270 |
Aggregate Intrinsic Value, Vested and exercisable | $ 13,948 |
Stockholders' Equity - Addition
Stockholders' Equity - Additional Information (Details) $ / shares in Units, shares in Millions, $ in Millions | 9 Months Ended | |
Oct. 31, 2018USD ($)Peroid$ / sharesshares | Oct. 31, 2017USD ($)$ / sharesshares | |
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 | shares | 0.3 | 0.3 |
Weighted average purchase price of shares of common stock under ESPP | $ 6.82 | $ 5.48 |
Stock Options | ||
Stockholders Equity Note Disclosure [Line Items] | ||
Aggregate intrinsic value of vested options exercised | $ | $ 1.2 | $ 0.3 |
Weighted-average grant date fair value of options granted | $ 5.28 | $ 4.81 |
Stockholders' Equity - Summar_2
Stockholders' Equity - Summarizes of Restricted Stock Units Activities (Details) - Restricted Stock Units (RSUs) | 9 Months Ended |
Oct. 31, 2018$ / sharesshares | |
Number of Shares | |
Number of Shares, RSUs Beginning Balance | shares | 1,966,895 |
Number of Shares, Granted | shares | 1,132,647 |
Number of Shares, Vested | shares | (708,636) |
Number of Shares, Canceled | shares | (271,461) |
Number of Shares, RSUs Ending Balance | shares | 2,119,445 |
Weighted Average Grant-Date Fair Value Per Share | |
Weighted Average Grant-Date Fair Value Per Share, Beginning Balance | $ / shares | $ 8.85 |
Weighted Average Grant-Date Fair Value Per Share, Granted | $ / shares | 11.87 |
Weighted Average Grant-Date Fair Value Per Share, Vested | $ / shares | 8.99 |
Weighted Average Grant-Date Fair Value Per Share, Canceled | $ / shares | 9.52 |
Weighted Average Grant-Date Fair Value Per Share, Ending Balance | $ / shares | $ 10.34 |
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, 2018 | Oct. 31, 2017 | Oct. 31, 2018 | Oct. 31, 2017 | |
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items] | ||||
Stock-based compensation | $ 2,658 | $ 2,635 | $ 7,734 | $ 8,726 |
Cost of revenue | ||||
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items] | ||||
Stock-based compensation | 243 | 251 | 677 | 909 |
Sales and marketing | ||||
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items] | ||||
Stock-based compensation | 350 | 390 | 1,065 | 1,406 |
Research and development | ||||
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items] | ||||
Stock-based compensation | 970 | 1,005 | 2,803 | 3,221 |
General and administrative | ||||
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items] | ||||
Stock-based compensation | $ 1,095 | $ 989 | $ 3,189 | $ 3,190 |
Stock-Based Compensation - Addi
Stock-Based Compensation - Additional Information (Details) $ in Millions | 9 Months Ended |
Oct. 31, 2018USD ($) | |
Stock Options | |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |
Unrecognized share-based compensation expense related to unvested stock option grants | $ 22.5 |
Stock-based compensation expenses recognized on straight line basis offering period | 2 years 6 months |
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 | $ 22.5 |
Stock-based compensation expenses recognized on straight line basis offering period | 2 years 6 months |
ESPP | |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |
Unrecognized share-based compensation expense related to unvested stock option grants | $ 22.5 |
Stock-based compensation expenses recognized on straight line basis offering period | 2 years 6 months |
Stock-Based Compensation - Assu
Stock-Based Compensation - Assumptions Used to Estimate Fair Value of Employee Stock Options Grants and Employee Stock Purchase Plan Using Black-Scholes Option Pricing Model (Details) | 3 Months Ended | 9 Months Ended | ||
Oct. 31, 2018 | Oct. 31, 2017 | Oct. 31, 2018 | Oct. 31, 2017 | |
ESPP | ||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||
Expected volatility, minimum | 39.00% | 35.00% | 39.00% | 35.00% |
Expected volatility, maximum | 51.00% | 41.00% | 56.00% | 41.00% |
Risk-free interest rate, minimum | 2.30% | 0.90% | 2.00% | 0.90% |
Risk-free interest rate, maximum | 2.80% | 1.40% | 2.80% | 1.40% |
ESPP | Minimum | ||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||
Expected term (in years) | 6 months | 6 months | 6 months | 6 months |
ESPP | Maximum | ||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||
Expected term (in years) | 2 years | 2 years | 2 years | 2 years |
Stock Options | ||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||
Expected volatility | 43.00% | 47.00% | ||
Expected term (in years) | 6 years 1 month 6 days | 6 years 1 month 6 days | ||
Risk-free interest rate | 2.70% | |||
Stock Options | Minimum | ||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||
Risk-free interest rate | 1.80% | |||
Stock Options | Maximum | ||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||
Risk-free interest rate | 2.10% |
Income Taxes - Additional Infor
Income Taxes - Additional Information (Details) - USD ($) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |
Oct. 31, 2018 | Oct. 31, 2018 | Oct. 31, 2017 | Jan. 31, 2018 | |
Income Tax [Line Items] | ||||
Provision or benefit for income taxes | $ 146,000 | $ 277,000 | $ 0 | |
Unrecognized tax benefits | 3,500,000 | 3,500,000 | ||
Interest expense or penalties related to unrecognized tax benefits | $ 0 | |||
U.S. corporate tax rate | 21.00% | |||
Maximum | ||||
Income Tax [Line Items] | ||||
U.S. corporate tax rate | 35.00% | |||
Voxter Communications Inc. | ||||
Income Tax [Line Items] | ||||
Provision or benefit for income taxes | $ 100,000 | $ 300,000 |
Basic and Diluted Net Loss Pe_3
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, 2018 | Jul. 31, 2018 | Apr. 30, 2018 | Oct. 31, 2017 | Jul. 31, 2017 | Apr. 30, 2017 | Oct. 31, 2018 | Oct. 31, 2017 | |
Numerator | ||||||||
Net loss | $ (3,494) | $ (3,904) | $ (3,685) | $ (3,179) | $ (3,623) | $ (3,392) | $ (11,083) | $ (10,194) |
Denominator | ||||||||
Weighted-average common shares | 19,962,735 | 18,725,286 | 19,655,727 | 18,407,817 | ||||
Basic and diluted net loss per share | $ (0.18) | $ (0.17) | $ (0.56) | $ (0.55) |
Basic and Diluted Net Loss Pe_4
Basic and Diluted Net Loss Per Share - Additional Information (Details) - shares shares in Millions | 3 Months Ended | 9 Months Ended | ||
Oct. 31, 2018 | Oct. 31, 2017 | Oct. 31, 2018 | Oct. 31, 2017 | |
Earnings Per Share [Abstract] | ||||
Potentially dilutive securities excluded from the computation of diluted net loss per share | 4.1 | 4.2 | 4.1 | 4.2 |
Related Party Transaction - Add
Related Party Transaction - Additional Information (Details) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Oct. 31, 2018USD ($) | Oct. 31, 2017USD ($)ft² | Oct. 31, 2018USD ($) | Oct. 31, 2017USD ($)ft² | |
Related Party Transaction [Line Items] | ||||
Rent expense | $ 0.6 | $ 0.4 | $ 1.9 | $ 1.2 |
Fiserv Solutions, LLC | ||||
Related Party Transaction [Line Items] | ||||
Lease rentable space of office building | ft² | 33,400 | 33,400 | ||
Rent expense | $ 0.2 | $ 0.5 |
Business Acquisition - Addition
Business Acquisition - Additional Information (Details) - USD ($) $ in Thousands | Mar. 12, 2018 | Oct. 31, 2018 | Jan. 31, 2018 |
Business Acquisition [Line Items] | |||
Goodwill | $ 3,803 | $ 1,947 | |
Voxter Communications Inc. | |||
Business Acquisition [Line Items] | |||
Acquisition completion date | Mar. 12, 2018 | ||
Fair value of consideration transferred | $ 3,911 | ||
Intangible assets | 2,100 | ||
Net assets acquired | 400 | ||
Deferred tax liabilities | 400 | ||
Goodwill | $ 1,900 | ||
Acquisition-related transaction costs | $ 400 |
Business Acquisition - Schedule
Business Acquisition - Schedule of Fair Value of Consideration Transferred (Details) - USD ($) $ in Thousands | Mar. 12, 2018 | Oct. 31, 2018 |
Business Acquisition [Line Items] | ||
Shares issued for business acquisition | $ 390 | |
Contingent consideration for business acquisition | $ 231 | |
Voxter Communications Inc. | ||
Business Acquisition [Line Items] | ||
Cash paid at closing | $ 2,510 | |
Shares issued for business acquisition | 390 | |
Contingent consideration for business acquisition | 780 | |
Contingent consideration | 231 | |
Total | $ 3,911 |
Business Acquisition - Schedu_2
Business Acquisition - Schedule of Fair Value of Consideration Transferred (Parenthetical) (Details) $ in Millions | Mar. 12, 2018USD ($) |
Voxter Communications Inc. | |
Business Acquisition [Line Items] | |
Earn-out payments, gross amount | $ 0.8 |