Document_and_Entity_Informatio
Document and Entity Information | 6 Months Ended | |
Aug. 31, 2014 | Sep. 30, 2014 | |
Document And Entity Information [Abstract] | ' | ' |
Document Type | '10-Q | ' |
Amendment Flag | 'false | ' |
Document Period End Date | 31-Aug-14 | ' |
Document Fiscal Year Focus | '2015 | ' |
Document Fiscal Period Focus | 'Q2 | ' |
Entity Registrant Name | 'BARRACUDA NETWORKS INC | ' |
Entity Central Index Key | '0001348334 | ' |
Current Fiscal Year End Date | '--02-28 | ' |
Entity Filer Category | 'Non-accelerated Filer | ' |
Entity Common Stock, Shares Outstanding | ' | 51,950,714 |
Condensed_Consolidated_Balance
Condensed Consolidated Balance Sheets (USD $) | Aug. 31, 2014 | Feb. 28, 2014 |
In Thousands, unless otherwise specified | ||
Current assets: | ' | ' |
Cash and cash equivalents | $156,559 | $135,879 |
Accounts receivable, net of allowance for doubtful accounts of $1,367 and $2,134 as of August 31, 2014 and February 28, 2014, respectively | 36,739 | 27,836 |
Inventories, net | 5,183 | 5,648 |
Prepaid income taxes | 1,337 | 1,147 |
Deferred costs | 28,157 | 25,707 |
Deferred income taxes | 33,840 | 30,156 |
Other current assets | 4,300 | 3,753 |
Total current assets | 266,115 | 230,126 |
Property and equipment, net | 22,230 | 20,558 |
Deferred costs, non-current | 26,425 | 24,572 |
Deferred income taxes, non-current | 31,198 | 28,515 |
Other non-current assets | 2,033 | 1,851 |
Intangible assets, net | 10,652 | 8,420 |
Goodwill | 41,025 | 36,014 |
Total assets | 399,678 | 350,056 |
Current liabilities: | ' | ' |
Accounts payable | 12,708 | 13,743 |
Accrued payroll and related benefits | 8,048 | 8,494 |
Other accrued liabilities | 10,473 | 9,374 |
Deferred revenue | 187,153 | 167,562 |
Deferred income taxes | 291 | 260 |
Note payable | 244 | 237 |
Total current liabilities | 218,917 | 199,670 |
Long-term liabilities: | ' | ' |
Deferred revenue, non-current | 156,525 | 145,595 |
Deferred income taxes, non-current | 951 | 84 |
Note payable, non-current | 4,510 | 4,635 |
Other long-term liabilities | 7,664 | 5,727 |
Commitments and contingencies (Note 8) | ' | ' |
Stockholders' equity (deficit): | ' | ' |
Preferred stock, $0.001 par value; 20,000,000 shares authorized; zero shares issued and outstanding as of August 31, 2014 and February 28, 2014 | ' | ' |
Common stock, $0.001 par value; 1,000,000,000 shares authorized; 51,920,115 and 51,045,196 shares issued and outstanding as of August 31, 2014 and February 28, 2014, respectively | 52 | 52 |
Additional paid-in capital | 295,003 | 278,551 |
Accumulated other comprehensive loss | -1,392 | -817 |
Accumulated deficit | -282,552 | -283,441 |
Total stockholders' equity (deficit) | 11,111 | -5,655 |
Total liabilities and stockholders' equity (deficit) | $399,678 | $350,056 |
Condensed_Consolidated_Balance1
Condensed Consolidated Balance Sheets (Parenthetical) (USD $) | Aug. 31, 2014 | Feb. 28, 2014 |
In Thousands, except Share data, unless otherwise specified | ||
Statement of Financial Position [Abstract] | ' | ' |
Accounts receivable, allowance for doubtful accounts | $1,367 | $2,134 |
Preferred stock, par value | $0.00 | $0.00 |
Preferred stock, shares authorized | 20,000,000 | 20,000,000 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Common stock, par value | $0.00 | $0.00 |
Common stock, shares authorized | 1,000,000,000 | 1,000,000,000 |
Common stock, shares issued | 51,920,115 | 51,045,196 |
Common stock, shares outstanding | 51,920,115 | 51,045,196 |
Condensed_Consolidated_Stateme
Condensed Consolidated Statements of Operations (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Aug. 31, 2014 | Aug. 31, 2013 | Aug. 31, 2014 | Aug. 31, 2013 |
Revenue: | ' | ' | ' | ' |
Appliance | $20,676 | $17,906 | $41,512 | $35,409 |
Subscription | 47,976 | 39,884 | 93,349 | 78,658 |
Total revenue | 68,652 | 57,790 | 134,861 | 114,067 |
Cost of revenue | 14,044 | 13,407 | 28,450 | 26,481 |
Gross profit | 54,608 | 44,383 | 106,411 | 87,586 |
Operating expenses: | ' | ' | ' | ' |
Research and development | 13,826 | 11,638 | 26,778 | 22,480 |
Sales and marketing | 31,031 | 28,392 | 60,510 | 57,228 |
General and administrative | 8,624 | 7,827 | 17,188 | 14,505 |
Total operating expenses | 53,481 | 47,857 | 104,476 | 94,213 |
Income (loss) from operations | 1,127 | -3,474 | 1,935 | -6,627 |
Other income (expense), net | -681 | 7 | -738 | -450 |
Income (loss) before income taxes and non-controlling interest | 446 | -3,467 | 1,197 | -7,077 |
Benefit (provision) for income taxes | 292 | 1,089 | -308 | 2,136 |
Consolidated net income (loss) | 738 | -2,378 | 889 | -4,941 |
Net loss attributable to non-controlling interest | ' | 203 | ' | 362 |
Net income (loss) attributable to Barracuda Networks, Inc. | $738 | ($2,175) | $889 | ($4,579) |
Net income (loss) per share attributable to Barracuda Networks, Inc.: | ' | ' | ' | ' |
Basic | $0.01 | ($0.08) | $0.02 | ($0.16) |
Diluted | $0.01 | ($0.08) | $0.02 | ($0.16) |
Weighted-average shares used to compute net income (loss) per share attributable to Barracuda Networks, Inc.: | ' | ' | ' | ' |
Basic | 51,667 | 28,182 | 51,412 | 28,141 |
Diluted | 53,743 | 28,182 | 53,675 | 28,141 |
Condensed_Consolidated_Stateme1
Condensed Consolidated Statements of Comprehensive Income (Loss) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Aug. 31, 2014 | Aug. 31, 2013 | Aug. 31, 2014 | Aug. 31, 2013 |
Statement of Comprehensive Income [Abstract] | ' | ' | ' | ' |
Net income (loss) attributable to Barracuda Networks, Inc. | $738 | ($2,175) | $889 | ($4,579) |
Other comprehensive income (loss), net of tax: | ' | ' | ' | ' |
Change in net foreign currency translation adjustment | -606 | 281 | -575 | -34 |
Available-for-sale investments: | ' | ' | ' | ' |
Change in net unrealized gains (losses) (net of tax effect of $0, $85, $0 and $126) | ' | -138 | ' | -205 |
Less: reclassification adjustment for net (gains) losses included in net income | ' | ' | ' | ' |
Net change | ' | -138 | ' | -205 |
Other comprehensive income (loss) | -606 | 143 | -575 | -239 |
Comprehensive income (loss) attributable to Barracuda Networks, Inc. | $132 | ($2,032) | $314 | ($4,818) |
Condensed_Consolidated_Stateme2
Condensed Consolidated Statements of Comprehensive Income (Loss) (Parenthetical) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Aug. 31, 2014 | Aug. 31, 2013 | Aug. 31, 2014 | Aug. 31, 2013 |
Statement of Comprehensive Income [Abstract] | ' | ' | ' | ' |
Change in net unrealized gains (losses), tax | $0 | $85 | $0 | $126 |
Condensed_Consolidated_Stateme3
Condensed Consolidated Statements of Cash Flows (USD $) | 6 Months Ended | |
In Thousands, unless otherwise specified | Aug. 31, 2014 | Aug. 31, 2013 |
Operating activities | ' | ' |
Consolidated net income (loss) | $889 | ($4,941) |
Adjustments to reconcile consolidated net income (loss) to net cash provided by operating activities: | ' | ' |
Depreciation and amortization | 4,422 | 4,734 |
Stock-based compensation | 6,818 | 5,128 |
Excess tax benefits from equity incentive plan | -4,338 | -226 |
Loss on disposal of property and equipment | 31 | 36 |
Deferred income taxes | -6,198 | -5,467 |
Changes in operating assets and liabilities: | ' | ' |
Accounts receivable, net | -8,527 | -1,016 |
Inventories, net | 463 | -1,515 |
Income taxes, net | 3,073 | -514 |
Deferred costs | -4,412 | -6,588 |
Other current assets | -247 | -902 |
Other non-current assets | 100 | 211 |
Accounts payable | -1,267 | -264 |
Accrued payroll and related benefits | -29 | -1,883 |
Other accrued liabilities | 476 | -303 |
Other long-term liabilities | 55 | 71 |
Deferred revenue | 29,573 | 25,522 |
Net cash provided by operating activities | 20,882 | 12,083 |
Investing activities | ' | ' |
Purchase of investment in non-marketable equity and debt securities | -600 | -310 |
Purchase of property and equipment | -3,775 | -4,529 |
Purchase of intangible assets | ' | -28 |
Business combinations, net of cash acquired | -4,791 | -8,475 |
Net cash used in investing activities | -9,166 | -13,342 |
Financing activities | ' | ' |
Proceeds from issuance of common stock | 7,246 | 441 |
Taxes paid related to net share settlement of equity awards | -2,340 | -1,191 |
Dividends paid | ' | -1,419 |
Repurchase of common stock | ' | -723 |
Excess tax benefits from equity incentive plan | 4,338 | 226 |
Extended (repayment of) employee loans | -70 | 3,119 |
Repayment of note payable | -118 | -111 |
Transaction costs related to initial public offering | ' | -147 |
Net cash provided by financing activities | 9,056 | 195 |
Effect of exchange rate changes on cash and cash equivalents | -92 | -35 |
Net increase (decrease) in cash and cash equivalents | 20,680 | -1,099 |
Cash and cash equivalents at beginning of period | 135,879 | 30,095 |
Cash and cash equivalents at end of period | $156,559 | $28,996 |
Overview_and_Basis_of_Presenta
Overview and Basis of Presentation | 6 Months Ended |
Aug. 31, 2014 | |
Accounting Policies [Abstract] | ' |
Overview and Basis of Presentation | ' |
1. Overview and Basis of Presentation | |
Nature of Operations | |
Barracuda Networks, Inc., also referred to in this report as “we,” “our,” “us,” “Barracuda” or “the Company,” is headquartered in Campbell, California, and designs and delivers powerful yet easy-to-use security and storage solutions. We offer cloud-connected solutions that help our customers address security threats, improve network performance and protect and store their data. Our solutions are designed to simplify IT operations for our customers, allowing them to enhance their return on technology investments. | |
Use of Estimates | |
The preparation of financial statements in conformity with generally accepted accounting principles in the United States (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. We evaluate our estimates on an ongoing basis, including those related to the fair values of stock-based awards, income taxes and contingent liabilities, among others. We base our estimates on historical experience and on various other assumptions that we believe to be reasonable, the results of which form the basis for making judgments about the carrying values of assets and liabilities. Actual results could differ from those estimates. | |
Basis of Presentation | |
The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with GAAP, and follow the requirements of the U.S. Securities and Exchange Commission (the “SEC”) for interim reporting. As permitted under those rules, certain footnotes or other financial information that are normally required by GAAP are condensed or omitted. In management’s opinion, the unaudited condensed financial statements have been prepared on the same basis as the audited financial statements and include all adjustments, which include only normal recurring adjustments, necessary for the fair presentation of our financial information. The results for the three and six months ended August 31, 2014 are not necessarily indicative of the results expected for the full fiscal year. The condensed consolidated balance sheet as of February 28, 2014 has been derived from audited financial statements at that date but does not include all of the information required by GAAP. | |
The accompanying unaudited condensed consolidated financial statements include the accounts of Barracuda Networks, Inc. and our wholly and majority-owned subsidiaries. All significant intercompany accounts and transactions have been eliminated. | |
The accompanying unaudited condensed consolidated financial statements and related financial information should be read in conjunction with the audited financial statements and related footnotes included in our most recent Annual Report on Form 10-K. There have been no material changes in our significant accounting policies from those that were disclosed in our Annual Report on Form 10-K for the fiscal year ended February 28, 2014. | |
Reclassifications | |
We have reclassified certain immaterial prior period amounts within our condensed consolidated statements of cash flows to conform to our current fiscal year presentation. | |
Recent Accounting Pronouncements | |
In May 2014, the Financial Accounting Standards Board (the “FASB”) issued an accounting standard which completes the joint effort by the FASB and the International Accounting Standards Board to clarify the principles for recognizing revenue and improve financial reporting by creating common revenue recognition guidance for GAAP and International Financial Reporting Standards. The core principle of this update is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. We intend to adopt this update in the first quarter of fiscal year 2018 at which point it will begin to affect us. The standard allows for full retrospective adoption applied to all periods presented or retrospective adoption with the cumulative effect of initially applying this update recognized at the date of initial application. We are currently evaluating the impact of adopting this update on our consolidated financial statements. |
Balance_Sheet_Information
Balance Sheet Information | 6 Months Ended | ||||||||||||||||
Aug. 31, 2014 | |||||||||||||||||
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' | ||||||||||||||||
Balance Sheet Information | ' | ||||||||||||||||
2. Balance Sheet Information | |||||||||||||||||
Cash and Cash Equivalents | |||||||||||||||||
The following table summarizes our cash and cash equivalents (in thousands): | |||||||||||||||||
August 31, | February 28, | ||||||||||||||||
2014 | 2014 | ||||||||||||||||
Cash | $ | 61,904 | $ | 41,331 | |||||||||||||
Money market funds | 94,655 | 94,548 | |||||||||||||||
$ | 156,559 | $ | 135,879 | ||||||||||||||
Fair Value Measurements | |||||||||||||||||
We determine fair value based on the fair value hierarchy, which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value assumes that the transaction to sell the asset or transfer the liability occurs in the principal or most advantageous market for the asset or liability and establishes that the fair value of an asset or liability shall be determined based on the assumptions that market participants would use in pricing the asset or liability. The classification of a financial asset or liability within the hierarchy is based upon the lowest level input that is significant to the fair value measurement. The fair value hierarchy prioritizes the inputs into three levels that may be used to measure fair value: | |||||||||||||||||
Level 1: | Inputs are unadjusted quoted prices in active markets for identical assets or liabilities. | ||||||||||||||||
Level 2: | Inputs are quoted prices for similar assets and liabilities in active markets or inputs that are observable for the asset or liability, either directly or indirectly through market corroboration, for substantially the full term of the financial instrument. | ||||||||||||||||
Level 3: | Inputs are unobservable inputs based on our assumptions. | ||||||||||||||||
Cash equivalents are classified within Level 1 because they are valued using quoted market prices or alternative pricing sources and models utilizing market observable inputs. We have no financial assets or liabilities measured, on a recurring basis, utilizing Level 2 inputs. We estimated the fair value of our Level 3 contingent consideration liability based a weighted probability assessment of achieving the earnout related to the acquisition of C2C Systems Limited (“C2C”). Significant increases (decreases) in the probability assumptions in isolation would result in a significantly higher (lower) fair value measurement. In developing these estimates, we considered unobservable inputs that are supported by little or no market activity and reflect our own assumptions. Refer to Note 3 to Condensed Consolidated Financial Statements for further information. | |||||||||||||||||
The following table summarizes, for assets or liabilities measured at fair value, the respective classification by level of input within the fair value hierarchy (in thousands): | |||||||||||||||||
August 31, 2014 | |||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
Cash equivalents: Money market funds | $ | 94,655 | $ | — | $ | — | $ | 94,655 | |||||||||
Other accrued liabilities (current): | |||||||||||||||||
Contingent consideration liability | $ | — | $ | — | $ | 1,035 | $ | 1,035 | |||||||||
Other long-term liabilities: | |||||||||||||||||
Contingent consideration liability | $ | — | $ | — | $ | 1,889 | $ | 1,889 | |||||||||
28-Feb-14 | |||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
Cash equivalents: | |||||||||||||||||
Money market funds | $ | 94,548 | $ | — | $ | — | $ | 94,548 | |||||||||
Inventories, Net | |||||||||||||||||
Inventories, net, consisted of the following (in thousands): | |||||||||||||||||
August 31, | February 28, | ||||||||||||||||
2014 | 2014 | ||||||||||||||||
Raw materials | $ | 2,677 | $ | 3,038 | |||||||||||||
Finished goods | 3,500 | 3,759 | |||||||||||||||
Reserves | (994 | ) | (1,149 | ) | |||||||||||||
$ | 5,183 | $ | 5,648 | ||||||||||||||
Deferred Costs | |||||||||||||||||
Deferred costs consisted of the following (in thousands): | |||||||||||||||||
August 31, | February 28, | ||||||||||||||||
2014 | 2014 | ||||||||||||||||
Appliance | $ | 38,491 | $ | 35,000 | |||||||||||||
Commissions | 16,091 | 15,279 | |||||||||||||||
$ | 54,582 | $ | 50,279 | ||||||||||||||
Property and Equipment, Net | |||||||||||||||||
Property and equipment, net, consisted of the following (in thousands): | |||||||||||||||||
August 31, | February 28, | ||||||||||||||||
2014 | 2014 | ||||||||||||||||
Land | $ | 5,100 | $ | 5,100 | |||||||||||||
Building | 6,549 | 6,549 | |||||||||||||||
Computer hardware and software | 14,796 | 11,711 | |||||||||||||||
Vehicles, machinery and equipment | 2,685 | 2,462 | |||||||||||||||
Leasehold improvements | 2,989 | 2,560 | |||||||||||||||
32,119 | 28,382 | ||||||||||||||||
Accumulated depreciation and amortization | (9,889 | ) | (7,824 | ) | |||||||||||||
$ | 22,230 | $ | 20,558 | ||||||||||||||
Depreciation and amortization expense related to property and equipment was $1.2 million and $2.3 million for the three and six months ended August 31, 2014, respectively, and $0.8 million and $1.6 million for the three and six months ended August 31, 2013, respectively. | |||||||||||||||||
Accumulated Other Comprehensive Loss | |||||||||||||||||
The components of accumulated other comprehensive loss, net of tax, were as follows (in thousands): | |||||||||||||||||
Foreign | Unrealized Gains | Total | |||||||||||||||
Currency | (Losses) on | ||||||||||||||||
Translation | Available-for- | ||||||||||||||||
Adjustments | Sale Investments | ||||||||||||||||
Balance as of February 28, 2014 | $ | (817 | ) | $ | — | $ | (817 | ) | |||||||||
Other comprehensive income (loss) before reclassifications | (575 | ) | — | (575 | ) | ||||||||||||
Amounts reclassified from accumulated other comprehensive income (loss) | — | — | — | ||||||||||||||
Other comprehensive income (loss) | (575 | ) | — | (575 | ) | ||||||||||||
Balance as of August 31, 2014 | $ | (1,392 | ) | $ | — | $ | (1,392 | ) | |||||||||
Acquisition
Acquisition | 6 Months Ended | ||||
Aug. 31, 2014 | |||||
Business Combinations [Abstract] | ' | ||||
Acquisition | ' | ||||
3. Acquisition | |||||
C2C Systems Limited | |||||
In August 2014, we completed our acquisition of C2C, a provider of personal storage table file (“PST”) management, email archiving and information management solutions based in the United Kingdom. The acquisition of C2C will better position us to offer customers a more complete archiving and information management product portfolio to simplify IT and control storage costs. We acquired all of the issued and outstanding stock of C2C for aggregate consideration of $9.6 million. In connection with the acquisition, contingent consideration is payable up to $4.9 million upon the attainment of certain billings levels and performance integration targets through August 2017. At the acquisition date, we estimated fair value for contingent consideration to be $2.9 million. | |||||
We recorded the assets acquired and liabilities assumed from C2C, with the difference between the fair value of the net assets acquired and the purchase consideration reflected as goodwill. The following table reflects the fair values of assets acquired and liabilities assumed as of the acquisition date (in thousands): | |||||
Cash | $ | 1,355 | |||
Net other tangible assets | 290 | ||||
Developed technology | 2,990 | ||||
Customer relationships | 1,340 | ||||
Trade name | 30 | ||||
Goodwill | 5,376 | ||||
Deferred revenue | (1,015 | ) | |||
Deferred tax liability | (736 | ) | |||
Total value of assets acquired and liabilities assumed | $ | 9,630 | |||
The fair values of assets acquired and liabilities assumed were based on a preliminary valuation and our estimates and assumptions are subject to change within the measurement period. The primary areas of the purchase price allocation that are not yet finalized are related to accrued expenses, income taxes and residual goodwill. | |||||
As of the acquisition date, developed technology, customer relationships and the C2C trade name had weighted-average useful lives of 6.4 years, 7.3 years and 2.0 years, respectively. The total weighted-average useful life of these acquired intangible assets is 6.7 years. The goodwill is primarily attributed to the synergies expected to be realized following the acquisition. No goodwill was deemed to be deductible for income tax purposes. Pro forma results of operations for C2C have not been presented because they are not material to our consolidated results of operations. |
Goodwill_and_Intangible_Assets
Goodwill and Intangible Assets | 6 Months Ended | ||||||||||||
Aug. 31, 2014 | |||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | ||||||||||||
Goodwill and Intangible Assets | ' | ||||||||||||
4. Goodwill and Intangible Assets | |||||||||||||
The changes in the carrying amount of goodwill are summarized as follows (in thousands): | |||||||||||||
August 31, | |||||||||||||
2014 | |||||||||||||
Balance at February 28, 2014 | $ | 36,014 | |||||||||||
Goodwill acquired | 5,376 | ||||||||||||
Effect of foreign exchange rates | (365 | ) | |||||||||||
Balance at August 31, 2014 | $ | 41,025 | |||||||||||
Intangible assets subject to amortization are summarized as follows (in thousands): | |||||||||||||
August 31, 2014 | |||||||||||||
Gross | Accumulated | Net | |||||||||||
Carrying | Amortization | Carrying | |||||||||||
Amount | Value | ||||||||||||
Acquired developed technology | $ | 29,184 | $ | (22,517 | ) | $ | 6,667 | ||||||
Software license | 400 | (400 | ) | — | |||||||||
Customer relationships | 8,677 | (6,016 | ) | 2,661 | |||||||||
Patents | 1,625 | (965 | ) | 660 | |||||||||
Trade names | 513 | (145 | ) | 368 | |||||||||
Acquired developed software | 200 | (200 | ) | — | |||||||||
$ | 40,599 | $ | (30,243 | ) | $ | 10,356 | |||||||
February 28, 2014 | |||||||||||||
Gross | Accumulated | Net | |||||||||||
Carrying | Amortization | Carrying | |||||||||||
Amount | Value | ||||||||||||
Acquired developed technology | $ | 26,315 | $ | (21,111 | ) | $ | 5,204 | ||||||
Software license | 400 | (400 | ) | — | |||||||||
Customer relationships | 7,463 | (5,794 | ) | 1,669 | |||||||||
Patents | 1,625 | (873 | ) | 752 | |||||||||
Trade names | 663 | (305 | ) | 358 | |||||||||
Acquired developed software | 200 | (200 | ) | — | |||||||||
$ | 36,666 | $ | (28,683 | ) | $ | 7,983 | |||||||
In addition to the above, we maintained other intangible assets not subject to amortization of $296,000 and $437,000 as of August 31, 2014 and February 28, 2014, respectively. | |||||||||||||
Amortization expense was $1.1 million and $2.1 million for the three and six months ended August 31, 2014, respectively, and $1.7 million and $3.1 million for the three and six months ended August 31, 2013, respectively. | |||||||||||||
As of August 31, 2014, amortization expense for intangible assets in future periods was as follows: $1.4 million for the remainder of fiscal year 2015, $2.4 million for fiscal year 2016, $2.2 million for fiscal year 2017, $1.9 million for fiscal year 2018, $1.0 million for fiscal year 2019 and $1.6 million thereafter. |
Stockholders_Equity_Deficit
Stockholders' Equity (Deficit) | 6 Months Ended | ||||||||||||||||
Aug. 31, 2014 | |||||||||||||||||
Equity [Abstract] | ' | ||||||||||||||||
Stockholders' Equity (Deficit) | ' | ||||||||||||||||
5. Stockholders’ Equity (Deficit) | |||||||||||||||||
Stock Option Plan and Restricted Stock Units | |||||||||||||||||
Our 2012 Equity Incentive Plan (the “2012 Plan”) authorized the board of directors to grant stock options, stock appreciation rights, restricted stock and restricted stock units (“RSUs”) to employees, directors and consultants. Options granted are exercisable for periods not to exceed 10 years. Options and RSUs granted vest over four years contingent upon employment or service with us through the vesting date. | |||||||||||||||||
As of August 31, 2014, net of forecasted forfeitures, there was $19.1 million of unrecognized compensation cost related to outstanding stock options, expected to be recognized over a weighted-average period of 2.89 years and $20.6 million of unrecognized compensation cost related to unvested RSUs, expected to be recognized over a weighted-average period of 3.00 years. To the extent the actual forfeiture rate is different from what management has anticipated, stock-based compensation related to these equity awards will be different from management’s expectations. | |||||||||||||||||
Total stock-based compensation expense has been classified as follows in the accompanying condensed consolidated statements of operations (in thousands): | |||||||||||||||||
Three Months Ended August 31, | Six Months Ended August 31, | ||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
Cost of revenue | $ | 73 | $ | 43 | $ | 125 | $ | 88 | |||||||||
Research and development | 902 | 635 | 1,650 | 1,265 | |||||||||||||
Sales and marketing | 821 | 366 | 1,403 | 700 | |||||||||||||
General and administrative | 1,940 | 1,587 | 3,640 | 3,075 | |||||||||||||
$ | 3,736 | $ | 2,631 | $ | 6,818 | $ | 5,128 | ||||||||||
Income_Taxes
Income Taxes | 6 Months Ended |
Aug. 31, 2014 | |
Income Tax Disclosure [Abstract] | ' |
Income Taxes | ' |
6. Income Taxes | |
For the three and six months ended August 31, 2014, we recorded an income tax benefit of $0.3 million and income tax provision of $0.3 million, respectively. For the three and six months ended August 31, 2013, we recorded income tax benefits of $1.1 million and $2.1 million, respectively. | |
The difference between the income tax benefit (provision) that would be derived by applying the statutory rate to our year-to-date income (loss) before tax and the income tax benefit (provision) actually recorded is primarily due to the impact of non-deductible stock-based compensation expenses and other currently non-deductible items and various discrete items. |
Segment_Information
Segment Information | 6 Months Ended | ||||||||||||||||
Aug. 31, 2014 | |||||||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||||||
Segment Information | ' | ||||||||||||||||
7. Segment Information | |||||||||||||||||
Revenue by geographic region is presented as follows (in thousands): | |||||||||||||||||
Three Months Ended | Six Months Ended | ||||||||||||||||
August 31, | August 31, | ||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
North America | $ | 50,219 | $ | 41,997 | $ | 98,538 | $ | 82,829 | |||||||||
United States | 47,234 | 39,291 | 92,564 | 77,528 | |||||||||||||
Other | 2,985 | 2,706 | 5,974 | 5,301 | |||||||||||||
Latin America | 786 | 961 | 1,595 | 1,936 | |||||||||||||
Asia-Pacific | 4,503 | 4,093 | 8,990 | 8,142 | |||||||||||||
EMEA | 13,144 | 10,739 | 25,738 | 21,160 | |||||||||||||
$ | 68,652 | $ | 57,790 | $ | 134,861 | $ | 114,067 | ||||||||||
Our chief operating decision maker reviews the financial information presented on a consolidated basis for the purposes of allocating resources and evaluating our financial performance. Accordingly, we have determined that we operate in a single reporting segment. |
Commitments_and_Contingencies
Commitments and Contingencies | 6 Months Ended |
Aug. 31, 2014 | |
Commitments and Contingencies Disclosure [Abstract] | ' |
Commitments and Contingencies | ' |
8. Commitments and Contingencies | |
Legal Matters | |
In late 2011, following a voluntary internal review of our compliance with U.S. export control and sanctions laws, our management team became aware that certain of our physical appliances had been sold indirectly into embargoed countries via our distributors and resellers, potentially in violation of U.S. export control and economic sanctions laws. In addition, certain of our solutions incorporate encryption components and may be exported from the U.S. only with the required approvals; in the past, we may have exported products prior to receiving these required authorizations. After completion of a comprehensive internal investigation conducted by outside counsel, we submitted voluntary disclosures regarding these matters to the U.S. Commerce Department, Bureau of Industry and Security (“BIS”), and to the U.S. Treasury Department, Office of Foreign Assets Control (“OFAC”). These disclosures summarized potential violations of export controls and economic sanctions laws, including reexports by third parties and provision of services to end users in embargoed countries including Iran, Sudan and Syria. | |
The Company received a Proposed Charging Letter from BIS on August 21, 2014 (“Letter”), which asserts certain export violations against the Company and its UK subsidiary. Based on discussions with BIS, the Company expects a one-time monetary penalty to be imposed, and does not currently expect any criminal charges, denial of export privileges, or ongoing monitoring actions. As requested by BIS in the Letter, the Company has contacted BIS within thirty days of the date of the Letter to indicate that supplemental information will be provided by the Company. The Company intends to continue cooperating with BIS in an effort to resolve this matter. However, given the early stage of our discussions, the Company is unable at this time to estimate the timing or amount of any final resolution. | |
On August 13, 2013, Parallel Networks, LLC (“Parallel Networks”), which we believe is a non-practicing entity, filed a lawsuit against us in the U.S. District Court for the District of Delaware, Parallel Networks, LLC v. Barracuda Networks, Inc. , Case No. 1:13-cv-01412-UNA, alleging that certain of our appliances infringe two of their U.S. patents: U.S. Pat. No. 7,571,217, titled “Method and System for Uniform Resource Locator Transformation,” and U.S. Pat. No. 8,352,570, titled “Method and System for Uniform Resource Locator Transformation.” Parallel Networks has asserted similar claims against other companies. This matter is in its early stages, but we intend to vigorously defend the lawsuit. Given the early stage of the litigation, we are unable to estimate a possible loss or range of possible loss, if any. | |
On April 23, 2014, Selene Communication Technologies, LLC (“Selene”) filed a lawsuit against us in the U.S. District Court for the District of Delaware, Selene Communication Technologies, LLC v. Barracuda Networks, Inc., Case No. 1:99-mc-09999, alleging that certain of our appliances infringe U.S. patent number 7,143,444, titled “Application-Layer Anomaly and Misuse Detection.” Selene has asserted similar claims against other companies. This matter is in its early stages, but we intend to vigorously defend the lawsuit. Given the early stage of the litigation, we are unable to estimate a possible loss or range of possible loss, if any. | |
From time to time, we are party to litigation and subject to claims that arise in the ordinary course of our business, including actions with respect to employment claims and other matters. Although the results of litigation and claims are inherently unpredictable, we believe that the final outcome of such matters will not have a material adverse effect on our business, consolidated financial position, results of operations or cash flows. |
Net_Income_Loss_Per_Share
Net Income (Loss) Per Share | 6 Months Ended | ||||||||||||||||
Aug. 31, 2014 | |||||||||||||||||
Earnings Per Share [Abstract] | ' | ||||||||||||||||
Net Income (Loss) Per Share | ' | ||||||||||||||||
9. Net Income (Loss) Per Share | |||||||||||||||||
Basic and diluted net income (loss) per share attributable to common stockholders was presented in conformity with the two-class method required for participating securities. Prior to the date of our initial public offering, we considered our Series A and Series B redeemable convertible preferred stock as participating securities. In the event a dividend was declared or paid on our common stock, holders of Series A and Series B redeemable convertible preferred stock were entitled to a proportionate share of such dividend in proportion to the holders of common stock on an as-if converted basis. Immediately after the completion of our initial public offering in November 2013, all outstanding shares of redeemable convertible preferred stock were converted into common stock. | |||||||||||||||||
Through the date of our initial public offering, we utilized the two-class method to compute net income (loss) per share. Under the two-class method, basic net income (loss) per share attributable to common stockholders was computed by dividing the net income (loss) attributable to common stockholders by the weighted-average number of common shares outstanding during the period. Net income (loss) attributable to common stockholders was determined by allocating undistributed earnings between common and redeemable convertible preferred stockholders. Diluted net income (loss) per share attributable to common stockholders was computed by using the weighted-average number of shares of common stock outstanding, including potential dilutive common shares assuming the dilutive effect of outstanding stock options, RSUs, common stock subject to repurchase or forfeiture and redeemable convertible preferred stock using the treasury stock method. For periods in which there was a net loss, the number of shares used in the computation of diluted net loss per share was the same as that used for the computation of basic net loss per share, as the inclusion of dilutive securities would be anti-dilutive. Under the two-class method, the net income (loss) attributable to common stockholders was not allocated to the convertible redeemable preferred stock as the convertible redeemable preferred stock did not have a contractual obligation to share in our losses. | |||||||||||||||||
The following table presents the calculation of basic and diluted net income (loss) per share attributable to Barracuda Networks, Inc. (in thousands, except per share amounts): | |||||||||||||||||
Three Months Ended | Six Months Ended | ||||||||||||||||
August 31, | August 31, | ||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
Basic: | |||||||||||||||||
Net income (loss) attributable to Barracuda Networks, Inc. | $ | 738 | $ | (2,175 | ) | $ | 889 | $ | (4,579 | ) | |||||||
Weighted-average shares used to compute net income (loss) per share, basic | 51,667 | 28,182 | 51,412 | 28,141 | |||||||||||||
Net income (loss) per share attributable to Barracuda Networks, Inc., basic | $ | 0.01 | $ | (0.08 | ) | $ | 0.02 | $ | (0.16 | ) | |||||||
Diluted: | |||||||||||||||||
Net income (loss) attributable to Barracuda Networks, Inc. | $ | 738 | $ | (2,175 | ) | $ | 889 | $ | (4,579 | ) | |||||||
Weighted-average shares used to compute net income (loss) per share, basic | 51,667 | 28,182 | 51,412 | 28,141 | |||||||||||||
Add weighted-average effect of dilutive securities: | |||||||||||||||||
Stock options and RSUs | 2,076 | — | 2,263 | — | |||||||||||||
Weighted-average shares used to compute net income (loss) per share, diluted | 53,743 | 28,182 | 53,675 | 28,141 | |||||||||||||
Net income (loss) per share attributable to Barracuda Networks, Inc., diluted | $ | 0.01 | $ | (0.08 | ) | $ | 0.02 | $ | (0.16 | ) | |||||||
Overview_and_Basis_of_Presenta1
Overview and Basis of Presentation (Policies) | 6 Months Ended | ||
Aug. 31, 2014 | |||
Accounting Policies [Abstract] | ' | ||
Use of Estimates | ' | ||
Use of Estimates | |||
The preparation of financial statements in conformity with generally accepted accounting principles in the United States (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. We evaluate our estimates on an ongoing basis, including those related to the fair values of stock-based awards, income taxes and contingent liabilities, among others. We base our estimates on historical experience and on various other assumptions that we believe to be reasonable, the results of which form the basis for making judgments about the carrying values of assets and liabilities. Actual results could differ from those estimates. | |||
Basis of Presentation | ' | ||
Basis of Presentation | |||
The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with GAAP, and follow the requirements of the U.S. Securities and Exchange Commission (the “SEC”) for interim reporting. As permitted under those rules, certain footnotes or other financial information that are normally required by GAAP are condensed or omitted. In management’s opinion, the unaudited condensed financial statements have been prepared on the same basis as the audited financial statements and include all adjustments, which include only normal recurring adjustments, necessary for the fair presentation of our financial information. The results for the three and six months ended August 31, 2014 are not necessarily indicative of the results expected for the full fiscal year. The condensed consolidated balance sheet as of February 28, 2014 has been derived from audited financial statements at that date but does not include all of the information required by GAAP. | |||
The accompanying unaudited condensed consolidated financial statements include the accounts of Barracuda Networks, Inc. and our wholly and majority-owned subsidiaries. All significant intercompany accounts and transactions have been eliminated. | |||
The accompanying unaudited condensed consolidated financial statements and related financial information should be read in conjunction with the audited financial statements and related footnotes included in our most recent Annual Report on Form 10-K. There have been no material changes in our significant accounting policies from those that were disclosed in our Annual Report on Form 10-K for the fiscal year ended February 28, 2014. | |||
Reclassifications | ' | ||
Reclassifications | |||
We have reclassified certain immaterial prior period amounts within our condensed consolidated statements of cash flows to conform to our current fiscal year presentation. | |||
Recent Accounting Pronouncements | ' | ||
Recent Accounting Pronouncements | |||
In May 2014, the Financial Accounting Standards Board (the “FASB”) issued an accounting standard which completes the joint effort by the FASB and the International Accounting Standards Board to clarify the principles for recognizing revenue and improve financial reporting by creating common revenue recognition guidance for GAAP and International Financial Reporting Standards. The core principle of this update is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. We intend to adopt this update in the first quarter of fiscal year 2018 at which point it will begin to affect us. The standard allows for full retrospective adoption applied to all periods presented or retrospective adoption with the cumulative effect of initially applying this update recognized at the date of initial application. We are currently evaluating the impact of adopting this update on our consolidated financial statements. | |||
Fair Value Measurements | ' | ||
Fair Value Measurements | |||
We determine fair value based on the fair value hierarchy, which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value assumes that the transaction to sell the asset or transfer the liability occurs in the principal or most advantageous market for the asset or liability and establishes that the fair value of an asset or liability shall be determined based on the assumptions that market participants would use in pricing the asset or liability. The classification of a financial asset or liability within the hierarchy is based upon the lowest level input that is significant to the fair value measurement. The fair value hierarchy prioritizes the inputs into three levels that may be used to measure fair value: | |||
Level 1: | Inputs are unadjusted quoted prices in active markets for identical assets or liabilities. | ||
Level 2: | Inputs are quoted prices for similar assets and liabilities in active markets or inputs that are observable for the asset or liability, either directly or indirectly through market corroboration, for substantially the full term of the financial instrument. | ||
Level 3: | Inputs are unobservable inputs based on our assumptions. | ||
Cash equivalents are classified within Level 1 because they are valued using quoted market prices or alternative pricing sources and models utilizing market observable inputs. We have no financial assets or liabilities measured, on a recurring basis, utilizing Level 2 inputs. We estimated the fair value of our Level 3 contingent consideration liability based a weighted probability assessment of achieving the earnout related to the acquisition of C2C Systems Limited (“C2C”). Significant increases (decreases) in the probability assumptions in isolation would result in a significantly higher (lower) fair value measurement. In developing these estimates, we considered unobservable inputs that are supported by little or no market activity and reflect our own assumptions. Refer to Note 3 to Condensed Consolidated Financial Statements for further information. | |||
Segment Information | ' | ||
Our chief operating decision maker reviews the financial information presented on a consolidated basis for the purposes of allocating resources and evaluating our financial performance. Accordingly, we have determined that we operate in a single reporting segment. | |||
Net Income (Loss) Per Share | ' | ||
Basic and diluted net income (loss) per share attributable to common stockholders was presented in conformity with the two-class method required for participating securities. Prior to the date of our initial public offering, we considered our Series A and Series B redeemable convertible preferred stock as participating securities. In the event a dividend was declared or paid on our common stock, holders of Series A and Series B redeemable convertible preferred stock were entitled to a proportionate share of such dividend in proportion to the holders of common stock on an as-if converted basis. Immediately after the completion of our initial public offering in November 2013, all outstanding shares of redeemable convertible preferred stock were converted into common stock. | |||
Through the date of our initial public offering, we utilized the two-class method to compute net income (loss) per share. Under the two-class method, basic net income (loss) per share attributable to common stockholders was computed by dividing the net income (loss) attributable to common stockholders by the weighted-average number of common shares outstanding during the period. Net income (loss) attributable to common stockholders was determined by allocating undistributed earnings between common and redeemable convertible preferred stockholders. Diluted net income (loss) per share attributable to common stockholders was computed by using the weighted-average number of shares of common stock outstanding, including potential dilutive common shares assuming the dilutive effect of outstanding stock options, RSUs, common stock subject to repurchase or forfeiture and redeemable convertible preferred stock using the treasury stock method. For periods in which there was a net loss, the number of shares used in the computation of diluted net loss per share was the same as that used for the computation of basic net loss per share, as the inclusion of dilutive securities would be anti-dilutive. Under the two-class method, the net income (loss) attributable to common stockholders was not allocated to the convertible redeemable preferred stock as the convertible redeemable preferred stock did not have a contractual obligation to share in our losses. |
Balance_Sheet_Information_Tabl
Balance Sheet Information (Tables) | 6 Months Ended | ||||||||||||||||
Aug. 31, 2014 | |||||||||||||||||
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' | ||||||||||||||||
Cash and Cash Equivalents | ' | ||||||||||||||||
The following table summarizes our cash and cash equivalents (in thousands): | |||||||||||||||||
August 31, | February 28, | ||||||||||||||||
2014 | 2014 | ||||||||||||||||
Cash | $ | 61,904 | $ | 41,331 | |||||||||||||
Money market funds | 94,655 | 94,548 | |||||||||||||||
$ | 156,559 | $ | 135,879 | ||||||||||||||
Summary of Assets or Liabilities Measured at Fair Value | ' | ||||||||||||||||
The following table summarizes, for assets or liabilities measured at fair value, the respective classification by level of input within the fair value hierarchy (in thousands): | |||||||||||||||||
August 31, 2014 | |||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
Cash equivalents: Money market funds | $ | 94,655 | $ | — | $ | — | $ | 94,655 | |||||||||
Other accrued liabilities (current): | |||||||||||||||||
Contingent consideration liability | $ | — | $ | — | $ | 1,035 | $ | 1,035 | |||||||||
Other long-term liabilities: | |||||||||||||||||
Contingent consideration liability | $ | — | $ | — | $ | 1,889 | $ | 1,889 | |||||||||
28-Feb-14 | |||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
Cash equivalents: | |||||||||||||||||
Money market funds | $ | 94,548 | $ | — | $ | — | $ | 94,548 | |||||||||
Inventories, Net | ' | ||||||||||||||||
Inventories, net, consisted of the following (in thousands): | |||||||||||||||||
August 31, | February 28, | ||||||||||||||||
2014 | 2014 | ||||||||||||||||
Raw materials | $ | 2,677 | $ | 3,038 | |||||||||||||
Finished goods | 3,500 | 3,759 | |||||||||||||||
Reserves | (994 | ) | (1,149 | ) | |||||||||||||
$ | 5,183 | $ | 5,648 | ||||||||||||||
Deferred Costs | ' | ||||||||||||||||
Deferred costs consisted of the following (in thousands): | |||||||||||||||||
August 31, | February 28, | ||||||||||||||||
2014 | 2014 | ||||||||||||||||
Appliance | $ | 38,491 | $ | 35,000 | |||||||||||||
Commissions | 16,091 | 15,279 | |||||||||||||||
$ | 54,582 | $ | 50,279 | ||||||||||||||
Property and Equipment, Net | ' | ||||||||||||||||
Property and equipment, net, consisted of the following (in thousands): | |||||||||||||||||
August 31, | February 28, | ||||||||||||||||
2014 | 2014 | ||||||||||||||||
Land | $ | 5,100 | $ | 5,100 | |||||||||||||
Building | 6,549 | 6,549 | |||||||||||||||
Computer hardware and software | 14,796 | 11,711 | |||||||||||||||
Vehicles, machinery and equipment | 2,685 | 2,462 | |||||||||||||||
Leasehold improvements | 2,989 | 2,560 | |||||||||||||||
32,119 | 28,382 | ||||||||||||||||
Accumulated depreciation and amortization | (9,889 | ) | (7,824 | ) | |||||||||||||
$ | 22,230 | $ | 20,558 | ||||||||||||||
Components of Accumulated Other Comprehensive Loss, Net of Tax | ' | ||||||||||||||||
The components of accumulated other comprehensive loss, net of tax, were as follows (in thousands): | |||||||||||||||||
Foreign | Unrealized Gains | Total | |||||||||||||||
Currency | (Losses) on | ||||||||||||||||
Translation | Available-for- | ||||||||||||||||
Adjustments | Sale Investments | ||||||||||||||||
Balance as of February 28, 2014 | $ | (817 | ) | $ | — | $ | (817 | ) | |||||||||
Other comprehensive income (loss) before reclassifications | (575 | ) | — | (575 | ) | ||||||||||||
Amounts reclassified from accumulated other comprehensive income (loss) | — | — | — | ||||||||||||||
Other comprehensive income (loss) | (575 | ) | — | (575 | ) | ||||||||||||
Balance as of August 31, 2014 | $ | (1,392 | ) | $ | — | $ | (1,392 | ) | |||||||||
Acquisition_Tables
Acquisition (Tables) | 6 Months Ended | ||||
Aug. 31, 2014 | |||||
Business Combinations [Abstract] | ' | ||||
Schedule of Fair Values of Assets Acquired and Liabilities Assumed | ' | ||||
The following table reflects the fair values of assets acquired and liabilities assumed as of the acquisition date (in thousands): | |||||
Cash | $ | 1,355 | |||
Net other tangible assets | 290 | ||||
Developed technology | 2,990 | ||||
Customer relationships | 1,340 | ||||
Trade name | 30 | ||||
Goodwill | 5,376 | ||||
Deferred revenue | (1,015 | ) | |||
Deferred tax liability | (736 | ) | |||
Total value of assets acquired and liabilities assumed | $ | 9,630 | |||
Goodwill_and_Intangible_Assets1
Goodwill and Intangible Assets (Tables) | 6 Months Ended | ||||||||||||
Aug. 31, 2014 | |||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | ||||||||||||
Schedule of Changes in Carrying Amount of Goodwill | ' | ||||||||||||
The changes in the carrying amount of goodwill are summarized as follows (in thousands): | |||||||||||||
August 31, | |||||||||||||
2014 | |||||||||||||
Balance at February 28, 2014 | $ | 36,014 | |||||||||||
Goodwill acquired | 5,376 | ||||||||||||
Effect of foreign exchange rates | (365 | ) | |||||||||||
Balance at August 31, 2014 | $ | 41,025 | |||||||||||
Schedule of Intangible Assets Subject to Amortization | ' | ||||||||||||
Intangible assets subject to amortization are summarized as follows (in thousands): | |||||||||||||
August 31, 2014 | |||||||||||||
Gross | Accumulated | Net | |||||||||||
Carrying | Amortization | Carrying | |||||||||||
Amount | Value | ||||||||||||
Acquired developed technology | $ | 29,184 | $ | (22,517 | ) | $ | 6,667 | ||||||
Software license | 400 | (400 | ) | — | |||||||||
Customer relationships | 8,677 | (6,016 | ) | 2,661 | |||||||||
Patents | 1,625 | (965 | ) | 660 | |||||||||
Trade names | 513 | (145 | ) | 368 | |||||||||
Acquired developed software | 200 | (200 | ) | — | |||||||||
$ | 40,599 | $ | (30,243 | ) | $ | 10,356 | |||||||
February 28, 2014 | |||||||||||||
Gross | Accumulated | Net | |||||||||||
Carrying | Amortization | Carrying | |||||||||||
Amount | Value | ||||||||||||
Acquired developed technology | $ | 26,315 | $ | (21,111 | ) | $ | 5,204 | ||||||
Software license | 400 | (400 | ) | — | |||||||||
Customer relationships | 7,463 | (5,794 | ) | 1,669 | |||||||||
Patents | 1,625 | (873 | ) | 752 | |||||||||
Trade names | 663 | (305 | ) | 358 | |||||||||
Acquired developed software | 200 | (200 | ) | — | |||||||||
$ | 36,666 | $ | (28,683 | ) | $ | 7,983 | |||||||
Stockholders_Equity_Deficit_Ta
Stockholders' Equity (Deficit) (Tables) | 6 Months Ended | ||||||||||||||||
Aug. 31, 2014 | |||||||||||||||||
Equity [Abstract] | ' | ||||||||||||||||
Schedule of Total Stock-Based Compensation Expense | ' | ||||||||||||||||
Total stock-based compensation expense has been classified as follows in the accompanying condensed consolidated statements of operations (in thousands): | |||||||||||||||||
Three Months Ended August 31, | Six Months Ended August 31, | ||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
Cost of revenue | $ | 73 | $ | 43 | $ | 125 | $ | 88 | |||||||||
Research and development | 902 | 635 | 1,650 | 1,265 | |||||||||||||
Sales and marketing | 821 | 366 | 1,403 | 700 | |||||||||||||
General and administrative | 1,940 | 1,587 | 3,640 | 3,075 | |||||||||||||
$ | 3,736 | $ | 2,631 | $ | 6,818 | $ | 5,128 | ||||||||||
Segment_Information_Tables
Segment Information (Tables) | 6 Months Ended | ||||||||||||||||
Aug. 31, 2014 | |||||||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||||||
Schedule of Revenue by Geographic Region | ' | ||||||||||||||||
Revenue by geographic region is presented as follows (in thousands): | |||||||||||||||||
Three Months Ended | Six Months Ended | ||||||||||||||||
August 31, | August 31, | ||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
North America | $ | 50,219 | $ | 41,997 | $ | 98,538 | $ | 82,829 | |||||||||
United States | 47,234 | 39,291 | 92,564 | 77,528 | |||||||||||||
Other | 2,985 | 2,706 | 5,974 | 5,301 | |||||||||||||
Latin America | 786 | 961 | 1,595 | 1,936 | |||||||||||||
Asia-Pacific | 4,503 | 4,093 | 8,990 | 8,142 | |||||||||||||
EMEA | 13,144 | 10,739 | 25,738 | 21,160 | |||||||||||||
$ | 68,652 | $ | 57,790 | $ | 134,861 | $ | 114,067 | ||||||||||
Net_Income_Loss_Per_Share_Tabl
Net Income (Loss) Per Share (Tables) | 6 Months Ended | ||||||||||||||||
Aug. 31, 2014 | |||||||||||||||||
Earnings Per Share [Abstract] | ' | ||||||||||||||||
Calculation of Basic and Diluted Net Income (Loss) Per Share Attributable to Barracuda Networks, Inc. | ' | ||||||||||||||||
The following table presents the calculation of basic and diluted net income (loss) per share attributable to Barracuda Networks, Inc. (in thousands, except per share amounts): | |||||||||||||||||
Three Months Ended | Six Months Ended | ||||||||||||||||
August 31, | August 31, | ||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
Basic: | |||||||||||||||||
Net income (loss) attributable to Barracuda Networks, Inc. | $ | 738 | $ | (2,175 | ) | $ | 889 | $ | (4,579 | ) | |||||||
Weighted-average shares used to compute net income (loss) per share, basic | 51,667 | 28,182 | 51,412 | 28,141 | |||||||||||||
Net income (loss) per share attributable to Barracuda Networks, Inc., basic | $ | 0.01 | $ | (0.08 | ) | $ | 0.02 | $ | (0.16 | ) | |||||||
Diluted: | |||||||||||||||||
Net income (loss) attributable to Barracuda Networks, Inc. | $ | 738 | $ | (2,175 | ) | $ | 889 | $ | (4,579 | ) | |||||||
Weighted-average shares used to compute net income (loss) per share, basic | 51,667 | 28,182 | 51,412 | 28,141 | |||||||||||||
Add weighted-average effect of dilutive securities: | |||||||||||||||||
Stock options and RSUs | 2,076 | — | 2,263 | — | |||||||||||||
Weighted-average shares used to compute net income (loss) per share, diluted | 53,743 | 28,182 | 53,675 | 28,141 | |||||||||||||
Net income (loss) per share attributable to Barracuda Networks, Inc., diluted | $ | 0.01 | $ | (0.08 | ) | $ | 0.02 | $ | (0.16 | ) | |||||||
Balance_Sheet_Information_Cash
Balance Sheet Information - Cash and Cash Equivalents (Detail) (USD $) | Aug. 31, 2014 | Feb. 28, 2014 | Aug. 31, 2013 | Feb. 28, 2013 |
In Thousands, unless otherwise specified | ||||
Cash and Cash Equivalents [Abstract] | ' | ' | ' | ' |
Cash | $61,904 | $41,331 | ' | ' |
Money market funds | 94,655 | 94,548 | ' | ' |
Total cash and cash equivalents | $156,559 | $135,879 | $28,996 | $30,095 |
Balance_Sheet_Information_Summ
Balance Sheet Information - Summary of Assets or Liabilities Measured at Fair Value (Detail) (USD $) | Aug. 31, 2014 | Feb. 28, 2014 |
In Thousands, unless otherwise specified | ||
Money market funds [Member] | ' | ' |
Fair Value Of Assets And Liabilities Measured On Recurring Basis (Line Items) | ' | ' |
Financial assets measured at fair value | $94,655 | $94,548 |
Other accrued liabilities (current) [Member] | ' | ' |
Fair Value Of Assets And Liabilities Measured On Recurring Basis (Line Items) | ' | ' |
Contingent consideration liability | 1,035 | ' |
Other long-term liabilities [Member] | ' | ' |
Fair Value Of Assets And Liabilities Measured On Recurring Basis (Line Items) | ' | ' |
Contingent consideration liability | 1,889 | ' |
Level 1 [Member] | Money market funds [Member] | ' | ' |
Fair Value Of Assets And Liabilities Measured On Recurring Basis (Line Items) | ' | ' |
Financial assets measured at fair value | 94,655 | 94,548 |
Level 1 [Member] | Other accrued liabilities (current) [Member] | ' | ' |
Fair Value Of Assets And Liabilities Measured On Recurring Basis (Line Items) | ' | ' |
Contingent consideration liability | ' | ' |
Level 1 [Member] | Other long-term liabilities [Member] | ' | ' |
Fair Value Of Assets And Liabilities Measured On Recurring Basis (Line Items) | ' | ' |
Contingent consideration liability | ' | ' |
Level 2 [Member] | Money market funds [Member] | ' | ' |
Fair Value Of Assets And Liabilities Measured On Recurring Basis (Line Items) | ' | ' |
Financial assets measured at fair value | ' | ' |
Level 2 [Member] | Other accrued liabilities (current) [Member] | ' | ' |
Fair Value Of Assets And Liabilities Measured On Recurring Basis (Line Items) | ' | ' |
Contingent consideration liability | ' | ' |
Level 2 [Member] | Other long-term liabilities [Member] | ' | ' |
Fair Value Of Assets And Liabilities Measured On Recurring Basis (Line Items) | ' | ' |
Contingent consideration liability | ' | ' |
Level 3 [Member] | Money market funds [Member] | ' | ' |
Fair Value Of Assets And Liabilities Measured On Recurring Basis (Line Items) | ' | ' |
Financial assets measured at fair value | ' | ' |
Level 3 [Member] | Other accrued liabilities (current) [Member] | ' | ' |
Fair Value Of Assets And Liabilities Measured On Recurring Basis (Line Items) | ' | ' |
Contingent consideration liability | 1,035 | ' |
Level 3 [Member] | Other long-term liabilities [Member] | ' | ' |
Fair Value Of Assets And Liabilities Measured On Recurring Basis (Line Items) | ' | ' |
Contingent consideration liability | $1,889 | ' |
Balance_Sheet_Information_Inve
Balance Sheet Information - Inventories, Net (Detail) (USD $) | Aug. 31, 2014 | Feb. 28, 2014 |
In Thousands, unless otherwise specified | ||
Inventory Disclosure [Abstract] | ' | ' |
Raw materials | $2,677 | $3,038 |
Finished goods | 3,500 | 3,759 |
Reserves | -994 | -1,149 |
Total inventories, net | $5,183 | $5,648 |
Balance_Sheet_Information_Defe
Balance Sheet Information - Deferred Costs (Detail) (USD $) | Aug. 31, 2014 | Feb. 28, 2014 |
In Thousands, unless otherwise specified | ||
Deferred Cost [Line Items] | ' | ' |
Total deferred costs | $54,582 | $50,279 |
Appliance [Member] | ' | ' |
Deferred Cost [Line Items] | ' | ' |
Total deferred costs | 38,491 | 35,000 |
Commissions [Member] | ' | ' |
Deferred Cost [Line Items] | ' | ' |
Total deferred costs | $16,091 | $15,279 |
Balance_Sheet_Information_Prop
Balance Sheet Information - Property and Equipment, Net (Detail) (USD $) | Aug. 31, 2014 | Feb. 28, 2014 |
In Thousands, unless otherwise specified | ||
Property, Plant and Equipment [Line Items] | ' | ' |
Property and equipment, gross | $32,119 | $28,382 |
Accumulated depreciation and amortization | -9,889 | -7,824 |
Property and equipment, net | 22,230 | 20,558 |
Land [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property and equipment, gross | 5,100 | 5,100 |
Building [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property and equipment, gross | 6,549 | 6,549 |
Computer Hardware and Software [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property and equipment, gross | 14,796 | 11,711 |
Vehicles, Machinery and Equipment [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property and equipment, gross | 2,685 | 2,462 |
Leasehold Improvements [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property and equipment, gross | $2,989 | $2,560 |
Balance_Sheet_Information_Addi
Balance Sheet Information - Additional Information (Detail) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Aug. 31, 2014 | Aug. 31, 2013 | Aug. 31, 2014 | Aug. 31, 2013 |
Property, Plant and Equipment [Line Items] | ' | ' | ' | ' |
Depreciation and amortization expense related to property and equipment | ' | ' | $4,422 | $4,734 |
Property and equipment [Member] | ' | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' | ' |
Depreciation and amortization expense related to property and equipment | $1,200 | $800 | $2,300 | $1,600 |
Balance_Sheet_Information_Comp
Balance Sheet Information - Components of Accumulated Other Comprehensive Loss, Net of Tax (Detail) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Aug. 31, 2014 | Aug. 31, 2013 | Aug. 31, 2014 | Aug. 31, 2013 |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' | ' |
Beginning balance | ' | ' | ($817) | ' |
Other comprehensive income (loss) before reclassifications | ' | ' | -575 | ' |
Amounts reclassified from accumulated other comprehensive income (loss) | ' | ' | ' | ' |
Other comprehensive income (loss) | -606 | 143 | -575 | -239 |
Ending balance | -1,392 | ' | -1,392 | ' |
Foreign Currency Translation Adjustments [Member] | ' | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' | ' |
Beginning balance | ' | ' | -817 | ' |
Other comprehensive income (loss) before reclassifications | ' | ' | -575 | ' |
Amounts reclassified from accumulated other comprehensive income (loss) | ' | ' | ' | ' |
Other comprehensive income (loss) | ' | ' | -575 | ' |
Ending balance | -1,392 | ' | -1,392 | ' |
Unrealized Gains (Losses) on Available-for-Sale Investments [Member] | ' | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' | ' |
Beginning balance | ' | ' | ' | ' |
Other comprehensive income (loss) before reclassifications | ' | ' | ' | ' |
Amounts reclassified from accumulated other comprehensive income (loss) | ' | ' | ' | ' |
Other comprehensive income (loss) | ' | ' | ' | ' |
Ending balance | ' | ' | ' | ' |
Acquisitions_Additional_Inform
Acquisitions - Additional Information (Detail) (C2C Systems Limited [Member], USD $) | 6 Months Ended |
Aug. 31, 2014 | |
Business Acquisition [Line Items] | ' |
Consideration | $9,600,000 |
Contingent consideration payable upon attainment of certain billings levels and performance integration targets | 4,900,000 |
Estimated fair value of contingent consideration | 2,900,000 |
Contingent consideration payable description | 'Upon the attainment of certain billings levels and performance integration targets through August 2017. |
Weighted-average useful lives | '6 years 8 months 12 days |
Goodwill deductible for income tax purpose | $0 |
Acquired Developed Technology [Member] | ' |
Business Acquisition [Line Items] | ' |
Weighted-average useful lives | '6 years 4 months 24 days |
Customer Relationships [Member] | ' |
Business Acquisition [Line Items] | ' |
Weighted-average useful lives | '7 years 3 months 18 days |
Trade Names [Member] | ' |
Business Acquisition [Line Items] | ' |
Weighted-average useful lives | '2 years |
Acquisition_Schedule_of_Fair_V
Acquisition - Schedule of Fair Values of Assets Acquired and Liabilities Assumed (Detail) (USD $) | Aug. 31, 2014 | Feb. 28, 2014 |
In Thousands, unless otherwise specified | ||
Business Acquisition [Line Items] | ' | ' |
Goodwill | $41,025 | $36,014 |
C2C Systems Limited [Member] | ' | ' |
Business Acquisition [Line Items] | ' | ' |
Cash | 1,355 | ' |
Net other tangible assets | 290 | ' |
Goodwill | 5,376 | ' |
Deferred revenue | -1,015 | ' |
Deferred tax liability | -736 | ' |
Total value of assets acquired and liabilities assumed | 9,630 | ' |
Acquired Developed Technology [Member] | C2C Systems Limited [Member] | ' | ' |
Business Acquisition [Line Items] | ' | ' |
Intangible assets | 2,990 | ' |
Customer Relationships [Member] | C2C Systems Limited [Member] | ' | ' |
Business Acquisition [Line Items] | ' | ' |
Intangible assets | 1,340 | ' |
Trade Names [Member] | C2C Systems Limited [Member] | ' | ' |
Business Acquisition [Line Items] | ' | ' |
Intangible assets | $30 | ' |
Goodwill_and_Intangible_Assets2
Goodwill and Intangible Assets - Schedule of Changes in Carrying Amount of Goodwill (Detail) (USD $) | 6 Months Ended |
In Thousands, unless otherwise specified | Aug. 31, 2014 |
Goodwill and Intangible Assets Disclosure [Abstract] | ' |
Balance at beginning of period | $36,014 |
Goodwill acquired | 5,376 |
Effect of foreign exchange rates | -365 |
Balance at end of period | $41,025 |
Goodwill_and_Intangible_Assets3
Goodwill and Intangible Assets - Schedule of Intangible Assets Subject to Amortization (Detail) (USD $) | Aug. 31, 2014 | Feb. 28, 2014 |
In Thousands, unless otherwise specified | ||
Acquired Finite-Lived Intangible Assets [Line Items] | ' | ' |
Gross Carrying Amount | $40,599 | $36,666 |
Accumulated Amortization | -30,243 | -28,683 |
Net Carrying Value | 10,356 | 7,983 |
Acquired Developed Technology [Member] | ' | ' |
Acquired Finite-Lived Intangible Assets [Line Items] | ' | ' |
Gross Carrying Amount | 29,184 | 26,315 |
Accumulated Amortization | -22,517 | -21,111 |
Net Carrying Value | 6,667 | 5,204 |
Software License [Member] | ' | ' |
Acquired Finite-Lived Intangible Assets [Line Items] | ' | ' |
Gross Carrying Amount | 400 | 400 |
Accumulated Amortization | -400 | -400 |
Net Carrying Value | ' | ' |
Customer Relationships [Member] | ' | ' |
Acquired Finite-Lived Intangible Assets [Line Items] | ' | ' |
Gross Carrying Amount | 8,677 | 7,463 |
Accumulated Amortization | -6,016 | -5,794 |
Net Carrying Value | 2,661 | 1,669 |
Patents [Member] | ' | ' |
Acquired Finite-Lived Intangible Assets [Line Items] | ' | ' |
Gross Carrying Amount | 1,625 | 1,625 |
Accumulated Amortization | -965 | -873 |
Net Carrying Value | 660 | 752 |
Trade Names [Member] | ' | ' |
Acquired Finite-Lived Intangible Assets [Line Items] | ' | ' |
Gross Carrying Amount | 513 | 663 |
Accumulated Amortization | -145 | -305 |
Net Carrying Value | 368 | 358 |
Acquired Developed Software [Member] | ' | ' |
Acquired Finite-Lived Intangible Assets [Line Items] | ' | ' |
Gross Carrying Amount | 200 | 200 |
Accumulated Amortization | -200 | -200 |
Net Carrying Value | ' | ' |
Goodwill_and_Intangible_Assets4
Goodwill and Intangible Assets - Additional Information (Detail) (USD $) | 3 Months Ended | 6 Months Ended | |||
Aug. 31, 2014 | Aug. 31, 2013 | Aug. 31, 2014 | Aug. 31, 2013 | Feb. 28, 2014 | |
Goodwill and Intangible Assets Disclosure [Abstract] | ' | ' | ' | ' | ' |
Other intangible assets not subject to amortization | $296,000 | ' | $296,000 | ' | $437,000 |
Amortization expense | 1,100,000 | 1,700,000 | 2,100,000 | 3,100,000 | ' |
Amortization expense for the remainder of fiscal year 2015 | 1,400,000 | ' | 1,400,000 | ' | ' |
Amortization expense for fiscal year 2016 | 2,400,000 | ' | 2,400,000 | ' | ' |
Amortization expense for fiscal year 2017 | 2,200,000 | ' | 2,200,000 | ' | ' |
Amortization expense for fiscal year 2018 | 1,900,000 | ' | 1,900,000 | ' | ' |
Amortization expense for fiscal year 2019 | 1,000,000 | ' | 1,000,000 | ' | ' |
Amortization expense thereafter | $1,600,000 | ' | $1,600,000 | ' | ' |
Stockholders_Equity_Deficit_Ad
Stockholders' Equity (Deficit) - Additional Information (Detail) (USD $) | 6 Months Ended |
In Millions, unless otherwise specified | Aug. 31, 2014 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Options granted are exercisable for periods | '10 years |
Stock Options [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Options and RSUs granted vesting period | '4 years |
Unrecognized compensation cost related to outstanding stock options | 19.1 |
Expected period for recognizing compensation expense | '2 years 10 months 21 days |
Restricted Stock Units [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Options and RSUs granted vesting period | '4 years |
Expected period for recognizing compensation expense | '3 years |
Unrecognized compensation cost related to unvested RSUs | 20.6 |
Stockholders_Equity_Deficit_Sc
Stockholders' Equity (Deficit) - Schedule of Total Stock-Based Compensation Expense (Detail) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Aug. 31, 2014 | Aug. 31, 2013 | Aug. 31, 2014 | Aug. 31, 2013 |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' | ' |
Stock-based compensation expense | $3,736 | $2,631 | $6,818 | $5,128 |
Cost of Revenue [Member] | ' | ' | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' | ' |
Stock-based compensation expense | 73 | 43 | 125 | 88 |
Research and Development [Member] | ' | ' | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' | ' |
Stock-based compensation expense | 902 | 635 | 1,650 | 1,265 |
Selling and Marketing [Member] | ' | ' | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' | ' |
Stock-based compensation expense | 821 | 366 | 1,403 | 700 |
General and Administrative [Member] | ' | ' | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' | ' |
Stock-based compensation expense | $1,940 | $1,587 | $3,640 | $3,075 |
Income_Taxes_Additional_Inform
Income Taxes - Additional Information (Detail) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Aug. 31, 2014 | Aug. 31, 2013 | Aug. 31, 2014 | Aug. 31, 2013 |
Income Tax Disclosure [Abstract] | ' | ' | ' | ' |
Income tax (provision) benefit | $292 | $1,089 | ($308) | $2,136 |
Segment_Information_Schedule_o
Segment Information - Schedule of Revenue by Geographic Region (Detail) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, unless otherwise specified | Aug. 31, 2014 | Aug. 31, 2013 | Aug. 31, 2014 | Aug. 31, 2013 |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Revenue | $68,652 | $57,790 | $134,861 | $114,067 |
North America [Member] | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Revenue | 50,219 | 41,997 | 98,538 | 82,829 |
United States [Member] | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Revenue | 47,234 | 39,291 | 92,564 | 77,528 |
Other [Member] | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Revenue | 2,985 | 2,706 | 5,974 | 5,301 |
Latin America [Member] | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Revenue | 786 | 961 | 1,595 | 1,936 |
Asia-Pacific [Member] | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Revenue | 4,503 | 4,093 | 8,990 | 8,142 |
EMEA [Member] | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Revenue | $13,144 | $10,739 | $25,738 | $21,160 |
Net_Income_Loss_Per_Share_Calc
Net Income (Loss) Per Share - Calculation of Basic and Diluted Net Income (Loss) Per Share Attributable to Barracuda Networks, Inc. (Detail) (USD $) | 3 Months Ended | 6 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Aug. 31, 2014 | Aug. 31, 2013 | Aug. 31, 2014 | Aug. 31, 2013 |
Basic: | ' | ' | ' | ' |
Net income (loss) attributable to Barracuda Networks, Inc. | $738 | ($2,175) | $889 | ($4,579) |
Weighted-average shares used to compute net income (loss) per share, basic | 51,667 | 28,182 | 51,412 | 28,141 |
Net income (loss) per share attributable to Barracuda Networks, Inc., basic | $0.01 | ($0.08) | $0.02 | ($0.16) |
Diluted: | ' | ' | ' | ' |
Net income (loss) attributable to Barracuda Networks, Inc. | $738 | ($2,175) | $889 | ($4,579) |
Weighted-average shares used to compute net income (loss) per share, basic | 51,667 | 28,182 | 51,412 | 28,141 |
Add weighted-average effect of dilutive securities: | ' | ' | ' | ' |
Stock options and RSUs | 2,076 | ' | 2,263 | ' |
Weighted-average shares used to compute net income (loss) per share, diluted | 53,743 | 28,182 | 53,675 | 28,141 |
Net income (loss) per share attributable to Barracuda Networks, Inc., diluted | $0.01 | ($0.08) | $0.02 | ($0.16) |