Document and Entity Information
Document and Entity Information - shares | 9 Months Ended | |
Sep. 30, 2015 | Nov. 01, 2015 | |
Document And Entity Information [Line Items] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Sep. 30, 2015 | |
Document Fiscal Year Focus | 2,015 | |
Document Fiscal Period Focus | Q3 | |
Trading Symbol | RNG | |
Entity Registrant Name | RingCentral Inc | |
Entity Central Index Key | 1,384,905 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Accelerated Filer | |
Class A common stock | ||
Document And Entity Information [Line Items] | ||
Entity Common Stock, Shares Outstanding | 56,786,478 | |
Class B common stock | ||
Document And Entity Information [Line Items] | ||
Entity Common Stock, Shares Outstanding | 14,159,413 |
CONDENSED CONSOLIDATED BALANCE
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Current assets: | ||
Cash and cash equivalents | $ 130,004 | $ 113,182 |
Short-term investments | 2,307 | 28,479 |
Accounts receivable, net | 15,187 | 7,651 |
Inventory | 2,287 | 1,710 |
Prepaid expenses and other current assets | 12,749 | 8,767 |
Total current assets | 162,534 | 159,789 |
Property and equipment, net | 29,084 | 25,527 |
Goodwill | 9,393 | |
Acquired intangibles, net | 3,522 | |
Other assets | 2,681 | 3,021 |
Total assets | 207,214 | 188,337 |
Current liabilities: | ||
Accounts payable | 4,162 | 4,181 |
Accrued liabilities | 37,391 | 29,236 |
Current portion of capital lease obligation | 262 | 509 |
Current portion of long-term debt | 3,750 | 16,764 |
Deferred revenue | 34,286 | 25,586 |
Total current liabilities | 79,851 | 76,276 |
Long-term debt | 15,778 | 7,813 |
Sales tax liability | 3,887 | 3,953 |
Capital lease obligation | 273 | 535 |
Other long-term liabilities | 4,540 | 3,255 |
Total liabilities | $ 104,329 | $ 91,832 |
Commitments and contingencies (Note 6) | ||
Stockholders' equity: | ||
Common stock | $ 7 | $ 7 |
Additional paid-in capital | 306,045 | 274,844 |
Accumulated other comprehensive income (loss) | 86 | (251) |
Accumulated deficit | (203,253) | (178,095) |
Total stockholders' equity | 102,885 | 96,505 |
Total liabilities and stockholders' equity | $ 207,214 | $ 188,337 |
CONDENSED CONSOLIDATED STATEMEN
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Revenues: | ||||
Subscriptions | $ 70,321 | $ 51,951 | $ 194,713 | $ 143,668 |
Product | 6,459 | 4,993 | 18,076 | 14,325 |
Total revenues | 76,780 | 56,944 | 212,789 | 157,993 |
Cost of revenues: | ||||
Subscriptions | 17,084 | 14,799 | 49,503 | 43,305 |
Product | 5,249 | 4,606 | 14,906 | 13,546 |
Total cost of revenues | 22,333 | 19,405 | 64,409 | 56,851 |
Gross profit | 54,447 | 37,539 | 148,380 | 101,142 |
Operating expenses: | ||||
Research and development | 13,475 | 11,931 | 37,612 | 32,478 |
Sales and marketing | 34,878 | 26,697 | 101,473 | 76,342 |
General and administrative | 11,922 | 9,725 | 34,231 | 28,184 |
Total operating expenses | 60,275 | 48,353 | 173,316 | 137,004 |
Loss from operations | (5,828) | (10,814) | (24,936) | (35,862) |
Other income (expense), net: | ||||
Interest expense | (245) | (505) | (927) | (1,582) |
Other income (expense), net | (319) | (648) | (637) | (592) |
Other income (expense), net | (564) | (1,153) | (1,564) | (2,174) |
Loss before provision (benefit) for income taxes | (6,392) | (11,967) | (26,500) | (38,036) |
Provision (benefit) for income taxes | (56) | 19 | (1,342) | 184 |
Net loss | $ (6,336) | $ (11,986) | $ (25,158) | $ (38,220) |
Net loss per common share: | ||||
Basic and diluted | $ (0.09) | $ (0.18) | $ (0.36) | $ (0.58) |
Weighted-average number of shares used in computing net loss per share: | ||||
Basic and diluted | 70,580 | 67,800 | 69,614 | 66,313 |
CONDENSED CONSOLIDATED STATEME4
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Statement Of Income And Comprehensive Income [Abstract] | ||||
Net loss | $ (6,336) | $ (11,986) | $ (25,158) | $ (38,220) |
Other comprehensive gain/(loss): | ||||
Foreign currency translation adjustments, net | 159 | 387 | 146 | 57 |
Change in unrealized gain (loss) on available-for-sale securities | 94 | (34) | 190 | (34) |
Comprehensive loss | $ (6,083) | $ (11,633) | $ (24,822) | $ (38,197) |
CONDENSED CONSOLIDATED STATEME5
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2015 | Sep. 30, 2014 | |
Cash flows from operating activities: | ||
Net loss | $ (25,158) | $ (38,220) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Depreciation and amortization | 9,935 | 7,409 |
Share-based compensation | 15,790 | 11,306 |
Tax benefit from release of valuation allowance | (1,411) | |
Non-cash interest expense related to debt | 156 | 194 |
Net accretion of discount and amortization of premium on available-for-sale securities | 602 | |
Allowance for doubtful accounts | 152 | |
Loss on disposal of assets | 131 | 24 |
Change in fair value of purchase consideration | 89 | |
Deferred income tax | 5 | 82 |
Changes in assets and liabilities: | ||
Accounts receivable | (7,688) | (4,398) |
Inventory | (577) | 100 |
Prepaid expenses and other current assets | (3,907) | (3,155) |
Other assets | 488 | (1,109) |
Accounts payable | (61) | 1,078 |
Accrued liabilities | 4,758 | 11,318 |
Deferred revenue | 8,700 | 6,863 |
Other liabilities | 204 | 1,400 |
Net cash provided by (used in) operating activities | 2,208 | (7,108) |
Cash flows from investing activities: | ||
Proceeds from the maturity of available-for-sale securities | 25,760 | |
Purchases of available-for-sale securities | (28,696) | |
Purchases of property and equipment | (11,106) | (14,522) |
Cash paid for business combination, net of cash acquired | (4,670) | |
Capitalized internal-use software | (1,836) | (647) |
Proceeds from restricted investments | 100 | |
Net cash provided by (used in) investing activities | 8,248 | (43,865) |
Cash flows from financing activities: | ||
Net proceeds from secondary public offering of common stock | 57,167 | |
Payment of offering costs | (1,219) | |
Proceeds from issuance of stock in connection with stock plans | 12,040 | 7,052 |
Repayment of debt | (5,205) | (7,182) |
Repayment of capital lease obligations | (509) | (509) |
Taxes paid related to net share settlement of equity awards | (105) | (42) |
Net cash provided by financing activities | 6,221 | 55,267 |
Effect of exchange rate changes on cash and cash equivalents | 145 | 19 |
Net increase in cash and cash equivalents | 16,822 | 4,313 |
Cash and cash equivalents: | ||
Beginning of period | 113,182 | 116,378 |
End of period | 130,004 | 120,691 |
Supplemental disclosure of cash flow data: | ||
Cash paid for interest | 1,697 | 956 |
Cash paid for income taxes | 71 | 82 |
Noncash investing and financing activities: | ||
Issuance of common stock for business combination | 3,447 | |
Equipment purchased and unpaid at period end | 1,617 | 1,095 |
Change in unrealized gain (loss) on available-for-sale securities | 190 | (34) |
Change in liability for unvested exercised options | $ 28 | 37 |
Equipment acquired under capital lease | $ 1,149 |
Description of Business and Sum
Description of Business and Summary of Significant Accounting Policies | 9 Months Ended |
Sep. 30, 2015 | |
Organization Consolidation And Presentation Of Financial Statements [Abstract] | |
Description of Business and Summary of Significant Accounting Policies | Note 1. Description of Business and Summary of Significant Accounting Policies Description of Business RingCentral, Inc. (the “Company”) is a provider of software-as-a-service (“SaaS”) solutions for business communications. The Company was incorporated in California in 1999 and was reincorporated in Delaware on September 26, 2013. Basis of Presentation and Consolidation The unaudited condensed consolidated financial statements and accompanying notes of the Company reflect all adjustments (all of which are normal, recurring in nature and those discussed in these Notes) that are, in the opinion of management, are necessary for a fair presentation of the interim periods presented. All intercompany balances and transactions have been eliminated in consolidation. The results of operations for the interim periods presented are not necessarily indicative of the results to be expected for any subsequent quarter or for the entire year ending December 31, 2015. Certain information and note disclosures normally included in annual financial statements prepared in accordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”) have been condensed or omitted under the rules and regulations of the Securities and Exchange Commission (the “SEC”). The unaudited condensed consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements and related notes for the fiscal year ended December 31, 2014 included in the Company’s fiscal 2014 Annual Report on Form 10-K. There have been no changes in the Company’s significant accounting policies from those that were disclosed in the Company’s audited consolidated financial statements for the fiscal year ended December 31, 2014. Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The significant estimates made by management affect revenues, accounts receivable, the allowance for doubtful accounts, inventory and inventory reserves, the allocation of the value of purchase consideration for business acquisitions, goodwill, intangible assets, share-based compensation, deferred revenue, return reserves, provision for income taxes, uncertain tax positions, loss contingencies, sales tax liabilities and accrued liabilities. Management periodically evaluates such estimates and they are adjusted prospectively based upon such periodic evaluation. Actual results could differ from these estimates, and such differences could affect the results of operations reported in future periods. Recent Accounting Pronouncements In May 2014, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers (Topic 606) In September 2015, the FASB issued ASU No. 2015-16, Business Combinations (Topic 805): Simplifying the Accounting for Measurement-Period Adjustments |
Financial Statement Components
Financial Statement Components | 9 Months Ended |
Sep. 30, 2015 | |
Organization Consolidation And Presentation Of Financial Statements [Abstract] | |
Financial Statement Components | Note 2. Financial Statement Components Cash and cash equivalents consisted of the following (in thousands): September 30, December 31, 2015 2014 Cash $ 13,195 $ 12,800 Money market funds 116,809 100,382 Total cash and cash equivalents $ 130,004 $ 113,182 Accounts receivable, net consisted of the following (in thousands): September 30, December 31, 2015 2014 Accounts receivable $ 11,765 $ 5,935 Unbilled accounts receivable 3,677 1,841 Allowance for doubtful accounts (255 ) (125 ) Accounts receivable, net $ 15,187 $ 7,651 Property and equipment, net consisted of the following (in thousands): September 30, December 31, 2015 2014 Computer hardware and software $ 49,188 $ 43,805 Internal-use software development costs 7,171 5,335 Furniture and fixtures 3,464 2,020 Leasehold improvements 2,413 2,870 Total property and equipment 62,236 54,030 Less: accumulated depreciation and amortization (33,152 ) (28,503 ) Property and equipment, net $ 29,084 $ 25,527 Accrued liabilities consisted of the following (in thousands): September 30, December 31, 2015 2014 Accrued compensation and benefits $ 10,891 $ 7,596 Accrued sales, use and telecom related taxes 5,863 5,277 Other accrued expenses 20,637 16,363 Total accrued liabilities $ 37,391 $ 29,236 |
Fair Value of Financial Instrum
Fair Value of Financial Instruments | 9 Months Ended |
Sep. 30, 2015 | |
Fair Value Disclosures [Abstract] | |
Fair Value of Financial Instruments | Note 3. Fair Value of Financial Instruments The Company carries certain financial assets consisting of money market funds, certificates of deposit, commercial paper and corporate debt securities at fair value on a recurring basis. Fair value is based on the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Fair value is estimated by applying the following hierarchy, which prioritizes the inputs used to measure fair value into three levels and bases the categorization within the hierarchy upon the lowest level of input that is available and significant to the fair value measurement: Level 1: Observable inputs that reflect unadjusted quoted prices in active markets for identical assets or liabilities. Level 2: Observable inputs other than Level 1 inputs, such as quoted prices for similar assets or liabilities, quoted prices for identical or similar assets or liabilities in inactive markets, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the asset or liability. Level 3: Unobservable inputs that are supported by little or no market activity and that are based on management’s assumptions, including fair value measurements determined by using pricing models, discounted cash flow methodologies or similar techniques. The financial assets carried at fair value were determined using the following inputs (in thousands): Balance at September 30, 2015 (Level 1) (Level 2) (Level 3) Cash equivalents: Money market funds $ 116,835 $ 115,539 $ 1,296 $ — Short-term investments: Corporate debt securities $ 2,307 $ 2,307 $ — $ — Other assets: Certificates of deposit $ 530 $ — $ 530 $ — Balance at December 31, 2014 (Level 1) (Level 2) (Level 3) Cash equivalents: Money market funds $ 100,570 $ 94,274 $ 6,296 $ — Short-term investments: Corporate debt securities $ 26,481 $ 26,481 $ — $ — Commercial paper $ 1,998 $ — $ 1,998 $ — Other assets: Certificates of deposit $ 630 $ — $ 630 $ — At September 30, 2015, all short-term investments were designated as available-for-sale and reported at fair value based either upon quoted prices in active markets, quoted prices in less active markets, or quoted market prices for similar investments, with unrealized gains and losses, net of related tax, if any, included in other comprehensive loss. The Company classifies all highly liquid instruments with an original maturity on the date of purchase of three months or less as cash and cash equivalents. The Company classifies available-for-sale securities that have a maturity date longer than three months as short-term investments, including those investments with a maturity date of longer than one year that are highly liquid These short-term investments may be sold at any time for use in current operations or for other purposes, such as consideration for business acquisitions, even if they have not yet reached maturity. As a result, all of our short-term investments held at September 30, 2015 were classified as current assets in the accompanying condensed consolidated balance sheet. At September 30, 2015, available-for-sale securities consisted of the following (in thousands): Available-for-Sale Securities Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value Corporate debt securities $ 2,333 $ — $ (26 ) $ 2,307 Total $ 2,333 $ — $ (26 ) $ 2,307 The Company does not believe any of the unrealized losses represent an other-than-temporary impairment based on its evaluation of available evidence as of September 30, 2015. The Company expects to receive the full principal and interest on all of these short-term investments. The expected maturities of our short-term investments in available-for-sale securities at September 30, 2015 are shown below (in thousands): Available-for-Sale Securities Amortized Cost Estimated Fair Value Due in less than one year $ 2,333 $ 2,307 Total $ 2,333 $ 2,307 The At December 31, 2014 and September 30, 2015, the Company estimated the fair value of its debt primarily using an expected present value technique, which is based on observable market inputs using interest rates currently available to companies of similar credit standing for similar terms and remaining maturities, and considering its own credit risk. The estimated fair value of the Company’s current and non-current debt obligations was $25,671,000 at December 31, 2014, compared to its carrying amount of $24,577,000 at that date. The estimated fair value of the Company’s current and non-current debt obligations was $20,012,000 at September 30, 2015, compared to its carrying amount of $19,528,000 at that date. If the debt was measured at fair value in th |
Business Combinations
Business Combinations | 9 Months Ended |
Sep. 30, 2015 | |
Business Combinations [Abstract] | |
Business Combinations | Note 4. Business Combinations On June 4, 2015, the Company acquired Glip, Inc. (“Glip”), a cloud messaging and collaboration company based in Boca Raton, Florida. Glip is a provider of team messaging services, integrated with project management, group calendars, notes, annotations, and file sharing. Glip also includes integrations with a number of third party business solutions. The objective of the acquisition is to extend our platform by adding team messaging and collaboration services such as calendar, project management, and document sharing. The consideration for this acquisition, net of cash acquired and including the fair value of contingent consideration payable in cash upon achievement of certain earn out milestones and the fair value of common stock issuable to the sellers, was $11,906,000. Under the terms of the acquisition, the Company may also pay up to $2,000,000 in payments at the end of a two-year period to certain Glip employees, who continue to be employees of the Company, which are accounted for as a post-combination expense. The consideration exchanged consisted of the following (in thousands): Cash, net of cash acquired $ 4,670 Common stock issued (223,190 shares) 3,447 Holdback based on standard representations and warranties 1,500 Total initial consideration 9,617 Milestone based earn out (after valuation adjustment) 2,289 Total consideration $ 11,906 The $3,447,000 fair value of the 223,190 unregistered common shares issued as part of the consideration paid for Glip ($3,830,000 before a $383,000 discount due to a 6-month restriction of resale as a result of SEC Rule 144 for issuance of unregistered shares) was determined on the basis of the five day weighted closing market price of the Company’s common shares preceding the acquisition date. We determined the initial fair value of the milestone based earn out liability of $2,289,000 using various estimates, including probabilities of success and discount rates. The following table summarizes the fair value of assets acquired as of the date of acquisition (in thousands): Cash and cash equivalents $ 74 Acquired intangible assets 3,850 Goodwill 7,982 Net assets acquired $ 11,906 The Company has included the financial results of Glip in the condensed consolidated statements of operations from the date of acquisition. The following table sets forth the fair value components of identifiable acquired intangible assets (in thousands) and their estimated useful lives (in years) as of the date of acquisition: Fair Value Estimated Useful Life Customer relationships $ 840 2 years Developed technology 3,010 5 years Total identifiable acquired intangible assets subject to amortization $ 3,850 The amount recorded for developed technology represents the estimated fair value of Glip’s cloud messaging and collaboration technology. The amount recorded for customer relationships represents the fair values of the underlying relationships with Glip customers. The goodwill balance is primarily attributed to the assembled workforce and expanded market opportunities when integrating Glip’s cloud messaging and collaboration technology with the Company’s other offerings. The goodwill balance is not deductible for U.S. income tax purposes. The weighted-average amortization periods for customer relationships and developed technology are approximately 1.7 years and 4.7 years, respectively. Acquired intangible assets as of September 30, 2015 were as follows (in thousands): Gross Carrying Amount Accumulated Amortization Acquired Intangibles, Net Customer relationships $ 840 $ 135 $ 705 Developed technology 3,010 193 2,817 Total acquired intangible assets $ 3,850 $ 328 $ 3,522 Amortization expense from acquired intangible assets for the three and nine months ended September 30, 2015 was $256,000 and $328,000, respectively. Amortization of developed technology is included in research and development expenses and amortization of customer relationships is included in sales and marketing expenses in the condensed consolidated statements of operations. Estimated amortization expense for acquired intangible assets for the following five fiscal years and thereafter is as follows (in thousands): 2015 - remaining period $ 256 2016 1,022 2017 782 2018 602 2019 602 Thereafter 258 Total estimated amortization expense $ 3,522 |
Debt
Debt | 9 Months Ended |
Sep. 30, 2015 | |
Debt Disclosure [Abstract] | |
Debt | Note 5. Debt As of September 30, 2015, the Company’s debt is comprised of borrowings under the Third Amended and Restated Loan and Security Agreement dated March 30, 2015 (the “SVB Agreement”), as amended, with Silicon Valley Bank (“SVB”). SVB Loan Agreement Under the SVB Agreement, at September 30, 2015, the Company has one outstanding growth capital term loan (i.e., “the 2013 term loan”) and a revolving line of credit. The Company borrowed an additional growth capital loan in March 2012 (the “2012 term loan”) that matured in March 2015 and was repaid in full. The 2013 term loan was borrowed on December 31, 2013 with a principal amount of $15,000,000, which is being repaid in 48 equal monthly installments of principal, plus accrued and unpaid interest. Interest is due monthly and accrues at a floating rate based on the Company’s option of an annual rate of either the (i) prime rate plus a margin of 0.75% or 1.00% or (ii) adjusted LIBOR rate (based on one, two, three or six-month interest periods) plus a margin of 3.75% or 4.00%, in each case such margin being determined based on cash balances maintained with SVB. The Company elected the prime rate option and based on cash balances maintained with SVB at September 30, 2015, the current interest rate is 4.0%. As of September 30, 2015, the outstanding principal balance of the 2013 term loan was $8,750,000. $5,000,000 of the remaining principal balance is classified as non-current liabilities in the accompanying condensed consolidated balance sheet as this portion of the remaining principal balance is due beyond September 30, 2016. The revolving line of credit provides for a maximum borrowing of up to $15,000,000 in principal amount, subject to limits based on recurring subscription revenue amounts as defined in the SVB Agreement. The recurring subscription revenue requirement is not expected to limit the amount of borrowings available under the line of credit. Under the line of credit, interest is paid monthly and accrues at a floating rate based on the Company’s option of an annual rate of either the (i) prime rate plus a margin of 0.25% or 0.50% or (ii) adjusted LIBOR rate (based on one, two, three or six-month interest periods) plus a margin of 3.25% or 3.50%, in each case such margin being determined based on cash balances maintained with SVB. The Company elected the prime rate option and based on cash balances maintained with SVB at September 30, 2015, the current interest rate is 3.5%. On August 11, 2015, the Company amended the terms of the SVB Agreement extending the maturity of the revolving line of credit from August 13, 2015 to August 14, 2017. The outstanding principal balance is classified as non-current liabilities in the condensed consolidated balance sheet as the principal balance is due beyond September 30, 2016. As of September 30, 2015, the outstanding principal balance and the available borrowing capacity of the line of credit were $10,778,000 and $4,222,000, respectively. The Company has pledged substantially all of its assets, excluding intellectual property, as collateral to secure its obligations under the SVB Agreement. The SVB Agreement contains customary negative covenants that limit the Company’s ability to, among other things, incur additional indebtedness, grant liens, make investments, repurchase stock, pay dividends, transfer assets and merge or consolidate. The SVB Agreement, as amended, also contains customary affirmative covenants, as well as financial covenants that require the Company to (i) maintain minimum cash balances of $10,000,000, as defined in the agreement, and (ii) maintain minimum EBITDA levels, as determined in accordance with the agreement. On March 30, 2015, the Company adjusted certain financial covenants to expand its ability to invest in certain foreign subsidiaries and property and equipment. The Company was in compliance with all covenants under its credit agreement with SVB as of September 30, 2015. |
Commitments and Contingencies
Commitments and Contingencies | 9 Months Ended |
Sep. 30, 2015 | |
Commitments And Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | Note 6. Commitments and Contingencies Leases The Company leases facilities for office space under non-cancelable operating leases for its U.S. and international locations and has entered into capital lease arrangements to obtain property and equipment for its operations. In addition, the Company leases space from third party datacenter hosting facilities under co-location agreements to support its cloud infrastructure. On September 25, 2014, the Company entered into a new lease for its headquarters in Belmont, California for a total lease commitment of $17,497,000 through 2021 and lease incentives totaling $1,486,000. The Company took full possession of the building in the first quarter of fiscal 2015. On February 25, 2015, the Company signed an agreement that accelerated the termination date of the lease for its old headquarters office located in San Mateo, California from May 31, 2017 to April 30, 2015. The effectiveness of the early termination of the lease was contingent upon a third party entering into a lease agreement with the landlord for the San Mateo office space by February 28, 2015, and obtaining by March 30, 2015 the consent of the landlord’s lender to the early termination. The early termination of the lease was deemed effective on March 9, 2015 as both conditions were met. No additional lease payments were imposed by the early termination agreement and the Company’s future lease obligation ended on April 30, 2015. Minimum Third Party Network Service Provider Commitments On August 14, 2015, the Company amended its contract with a third-party network service provider containing a two year minimum commitment of approximately $170,000 a month. The commitment requires us to pay the higher of (i) our actual invoice or (ii) the monthly commitment amount. Sales Tax Liability During 2010 and 2011, the Company increased its sales and marketing activities in the U.S., which may be asserted by a number of states to create an obligation under nexus regulations to collect sales taxes on sales to customers in the state. Prior to 2012, the Company did not collect sales taxes from customers on sales in all states. In March 2012, the Company commenced collecting and remitting sales taxes on sales in all states so a loss contingency related to sales taxes exists for sales and marketing activities in 2010, 2011, and the first two months of 2012 ended February 29, 2012. As of September 30, 2015 and December 31, 2014, the Company had a balance for a long-term sales tax liability of $3,887,000 and $3,953,000, respectively, based on its best estimate of the probable liability for the loss contingency incurred as of those dates. The Company’s estimate of a probable outcome under the loss contingency is based on analysis of its sales and marketing activities, revenues subject to sales tax, and applicable regulations in each state in each period. No significant adjustments to the long-term sales tax liability have been recognized in the accompanying condensed consolidated financial statements for changes to the assumptions underlying the estimate. However, changes in management’s assumptions may occur in the future as the Company obtains new information which can result in adjustments to the recorded liability. Increases and decreases to the long-term sales tax liability are recorded as general and administrative expense. A current sales tax liability for non-contingent amounts expected to be remitted in the next twelve months of $4,997,000 and $4,178,000, is included in accrued liabilities as of September 30, 2015 and December 31, 2014, respectively. Legal Matters The Company determines whether an estimated loss from a contingency should be accrued by assessing whether a loss is deemed probable and can be reasonably estimated. The Company assesses its potential liability by analyzing specific litigation and regulatory matters using reasonably available information. The Company develops its views on estimated losses in consultation with inside and outside counsel, which involves a subjective analysis of potential results and outcomes, assuming various combinations of appropriate litigation and settlement strategies. Except for the sales tax liability matter discussed above, the Company did not have any accrued liabilities recorded for such loss contingencies as of September 30, 2015 and December 31, 2014. Legal fees are expensed in the period in which they are incurred. |
Share-Based Compensation
Share-Based Compensation | 9 Months Ended |
Sep. 30, 2015 | |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | |
Share-Based Compensation | Note 7. Share-Based Compensation A summary of share-based compensation expense recognized in the Company’s condensed consolidated statements of operations follows (in thousands): Three Months Ended Nine Months Ended September 30, September 30, 2015 2014 2015 2014 Cost of revenues $ 535 $ 330 $ 1,468 $ 974 Research and development 1,351 926 3,745 2,426 Sales and marketing 1,797 1,396 5,333 3,661 General and administrative 2,069 1,546 5,244 4,245 Total share-based compensation expense $ 5,752 $ 4,198 $ 15,790 $ 11,306 A summary of share-based compensation expense by award type follows (in thousands): Three Months Ended Nine Months Ended September 30, September 30, 2015 2014 2015 2014 Options $ 2,744 $ 2,740 $ 8,357 $ 7,812 Employee stock purchase plan rights 287 273 854 1,203 Restricted stock units 2,721 1,185 6,579 2,291 Total share-based compensation expense $ 5,752 $ 4,198 $ 15,790 $ 11,306 As of September 30, 2015 and December 31, 2014, there was approximately $21,799,000 and $20,069,000 of unrecognized share-based compensation expense, net of estimated forfeitures, related to non-vested stock option grants, which will be recognized on a straight-line basis over the remaining weighted-average vesting periods of approximately 2.6 years and 2.4 years, respectively. Equity Incentive Plans As of September 30, 2015 a total of 7,997,000 shares remained available for grant under the 2013 Plan. A summary of option activity under all of the Company’s equity incentive plans at September 30, 2015 and changes during the period then ended is presented in the following table: Weighted- Number of Weighted- Average Aggregate Options Average Contractual Intrinsic Outstanding Exercise Price Term Value (in thousands) Per Share (in Years) (in thousands) Outstanding at December 31, 2014 9,158 $ 8.23 7.2 $ 61,367 Granted 1,853 16.30 Exercised (1,556 ) 6.57 Canceled/Forfeited (651 ) 11.40 Outstanding at September 30, 2015 8,804 $ 9.99 6.4 $ 72,267 Vested and expected to vest as of September 30, 2015 8,698 $ 9.97 6.4 $ 71,556 Exercisable as of September 30, 2015 5,036 $ 7.03 6.2 $ 56,196 The weighted average grant date fair value of options granted and the total intrinsic value of options exercised were as follows (in thousands, except weighted average grant date fair value): Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 Weighted average grant date fair value per share $ 7.48 $ 5.56 $ 6.76 $ 6.42 Total intrinsic value of options exercised $ 7,135 $ 3,944 $ 16,964 $ 26,429 The Company estimated the fair values of each option awarded on the date of grant using the Black-Scholes-Merton option pricing model, which requires inputs including the fair value of common stock, expected term, expected volatility, risk-free interest rate and dividend yield. The weighted-average assumptions used in the option pricing models in the periods presented were as follows: Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 Expected term for employees (in years) 4.7 4.6 4.8 4.4 Expected term for non-employees (in years) 7.0 7.0 7.0 7.0 Risk-free interest rate 1.51 % 1.56 % 1.22 % 1.38 % Expected volatility 47 % 47 % 48 % 48 % Expected dividend rate 0 % 0 % 0 % 0 % Employee Stock Purchase Plan The ESPP allows eligible employees to purchase shares of the Class A common stock at a discount through payroll deductions of up to the lesser of 15% of their eligible compensation or the IRS allowable limit per calendar year, . A participant may purchase a maximum of 3,000 shares during an offering period. The offering period starts on the first trading day on or after May 11th and November 11th of each year. At the end of the offering period, the purchase price is set at the lower of: (i) 90% of the fair value of the Company’s common stock at the beginning of the six month offering period, and (ii) 90% of the fair value of the Company’s common stock at the end of the six month offering period. As of September 30, 2015, there was a total of $131,000 of unrecognized share-based compensation expense, net of estimated forfeitures, related to ESPP, which will be recognized on a straight-line basis over the remaining weighted-average vesting period of approximately 0.1 years. At September 30, 2015, a total of 2,024,000 shares were available for issuance under the ESPP. Restricted Stock Units For the nine months ended September 30, 2015, we issued 1,089,000 restricted stock units of Class A common stock under the 2013 Plan with a weighted average grant date fair value of $17.33 per share. As of September 30, 2015, there was a total of $90,883,000 of unrecognized share-based compensation expense, net of estimated forfeitures, related to restricted stock units, which will be recognized on a straight-line basis over the remaining weighted-average vesting period of approximately 3.1 years. |
Concentrations
Concentrations | 9 Months Ended |
Sep. 30, 2015 | |
Risks And Uncertainties [Abstract] | |
Concentrations | Note 8. Concentrations Revenue by geographic location is based on the billing address of the customer. More than 90% of the Company’s revenue is from the United States during the three and nine months ended September 30, 2015 and 2014. Property and equipment by geographic location is based on the location of the legal entity that owns the asset. At September 30, 2015 and December 31, 2014, more than 86% and 87% of the Company’s property and equipment was located in the United States, with no single country outside the United States representing more than 10% of property and equipment. |
Income Taxes
Income Taxes | 9 Months Ended |
Sep. 30, 2015 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | Note 9. Income Taxes The Provision (benefit) for income taxes for the three and nine months ended September 30, 2015 and 2014, was ($56,000), $19,000, ($1,342,000), and $184,000, respectively. The provision for income taxes during the three and nine months ended September 30, 2015 and 2014 consisted primarily of state minimum taxes, and foreign income taxes. Due to the Glip acquisition, a deferred tax liability was established for the book-tax basis difference related to identifiable acquired intangibles. The net deferred tax liability from acquisitions provided an additional source of income to support the realizability of our pre-existing deferred tax asset and as a result, we released a portion of the valuation allowance that was established in the previous year and recorded a one-time tax benefit of $1,411,000 for the three months ended June 30, 2015. For the three and nine months ended September 30, 2015 and 2014, the provision for income taxes differed from the U.S federal statutory amount primarily due to state and foreign taxes currently payable, and the Company realized no benefit for current year losses due to maintaining a full valuation allowance against the U.S. and the majority of foreign net deferred tax assets. The realization of tax benefits of net deferred tax assets is dependent upon future levels of taxable income, of an appropriate character, in the periods the items are expected to be deductible or taxable. Based on the available objective evidence, the Company does not believe it is more likely than not that the net deferred tax assets will be realizable. Accordingly, the Company has provided a full valuation allowance against the entire domestic and the majority of the foreign net deferred tax assets as of September 30, 2015 and December 31, 2014. The Company intends to maintain the full valuation allowance on the U.S. net deferred tax assets until sufficient positive evidence exists to support a reversal of, or decrease in, the valuation allowance. During the three and nine months ended September 30, 2015, there have been no significant changes to the total amount of unrecognized tax benefits. |
Basic and Diluted Net Loss Per
Basic and Diluted Net Loss Per Share | 9 Months Ended |
Sep. 30, 2015 | |
Earnings Per Share [Abstract] | |
Basic and Diluted Net Loss Per Share | Note 10. Basic and Diluted Net Loss Per Share Basic net loss per share is computed by dividing the net loss by the weighted-average number of shares of common stock outstanding during the period, less the weighted-average unvested common stock subject to repurchase or forfeiture as they are not deemed to be issued for accounting purposes. Diluted net loss per share is computed by giving effect to all potential shares of common stock, stock options and restricted stock units, to the extent they are dilutive. For the three and nine months ended September 30, 2015 and 2014, all such common stock equivalents have been excluded from diluted net loss per share as the effect to net loss per share would be anti-dilutive. The following table sets forth the computation of the Company’s basic and diluted net loss per share of common stock (in thousands, except per share data): Three Months Ended Nine Months Ended September 30, September 30, 2015 2014 2015 2014 Numerator Net loss $ (6,336 ) $ (11,986 ) $ (25,158 ) $ (38,220 ) Denominator Weighted-average common shares for basic and diluted net loss per share 70,580 67,800 69,614 66,313 Basic and diluted net loss per share $ (0.09 ) $ (0.18 ) $ (0.36 ) $ (0.58 ) The following table sets forth the potential shares of common stock that were excluded from diluted weighted-average common shares outstanding (in thousands): Three Months Ended Nine Months Ended September 30, September 30, 2015 2014 2015 2014 Shares of common stock subject to repurchase 5 18 5 18 Shares of common stock issuable under equity incentive awards outstanding 11,037 10,284 11,037 10,284 Potential common shares excluded from diluted net loss per share 11,042 10,302 11,042 10,302 |
Description of Business and S16
Description of Business and Summary of Significant Accounting Policies (Policies) | 9 Months Ended |
Sep. 30, 2015 | |
Organization Consolidation And Presentation Of Financial Statements [Abstract] | |
Basis of Presentation and Consolidation | Basis of Presentation and Consolidation The unaudited condensed consolidated financial statements and accompanying notes of the Company reflect all adjustments (all of which are normal, recurring in nature and those discussed in these Notes) that are, in the opinion of management, are necessary for a fair presentation of the interim periods presented. All intercompany balances and transactions have been eliminated in consolidation. The results of operations for the interim periods presented are not necessarily indicative of the results to be expected for any subsequent quarter or for the entire year ending December 31, 2015. Certain information and note disclosures normally included in annual financial statements prepared in accordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”) have been condensed or omitted under the rules and regulations of the Securities and Exchange Commission (the “SEC”). The unaudited condensed consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements and related notes for the fiscal year ended December 31, 2014 included in the Company’s fiscal 2014 Annual Report on Form 10-K. There have been no changes in the Company’s significant accounting policies from those that were disclosed in the Company’s audited consolidated financial statements for the fiscal year ended December 31, 2014. |
Use of Estimates | Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The significant estimates made by management affect revenues, accounts receivable, the allowance for doubtful accounts, inventory and inventory reserves, the allocation of the value of purchase consideration for business acquisitions, goodwill, intangible assets, share-based compensation, deferred revenue, return reserves, provision for income taxes, uncertain tax positions, loss contingencies, sales tax liabilities and accrued liabilities. Management periodically evaluates such estimates and they are adjusted prospectively based upon such periodic evaluation. Actual results could differ from these estimates, and such differences could affect the results of operations reported in future periods. |
Recent Accounting Pronouncements | Recent Accounting Pronouncements In May 2014, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers (Topic 606) In September 2015, the FASB issued ASU No. 2015-16, Business Combinations (Topic 805): Simplifying the Accounting for Measurement-Period Adjustments |
Financial Statement Components
Financial Statement Components (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Statement Of Financial Position [Abstract] | |
Components of Cash and Cash Equivalents | Cash and cash equivalents consisted of the following (in thousands): September 30, December 31, 2015 2014 Cash $ 13,195 $ 12,800 Money market funds 116,809 100,382 Total cash and cash equivalents $ 130,004 $ 113,182 |
Components of Accounts Receivable, Net | Accounts receivable, net consisted of the following (in thousands): September 30, December 31, 2015 2014 Accounts receivable $ 11,765 $ 5,935 Unbilled accounts receivable 3,677 1,841 Allowance for doubtful accounts (255 ) (125 ) Accounts receivable, net $ 15,187 $ 7,651 |
Components of Property and Equipment, Net | Property and equipment, net consisted of the following (in thousands): September 30, December 31, 2015 2014 Computer hardware and software $ 49,188 $ 43,805 Internal-use software development costs 7,171 5,335 Furniture and fixtures 3,464 2,020 Leasehold improvements 2,413 2,870 Total property and equipment 62,236 54,030 Less: accumulated depreciation and amortization (33,152 ) (28,503 ) Property and equipment, net $ 29,084 $ 25,527 |
Components of Accrued Liabilities | Accrued liabilities consisted of the following (in thousands): September 30, December 31, 2015 2014 Accrued compensation and benefits $ 10,891 $ 7,596 Accrued sales, use and telecom related taxes 5,863 5,277 Other accrued expenses 20,637 16,363 Total accrued liabilities $ 37,391 $ 29,236 |
Fair Value of Financial Instr18
Fair Value of Financial Instruments (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Fair Value Disclosures [Abstract] | |
Financial Assets Carried at Fair Value | The financial assets carried at fair value were determined using the following inputs (in thousands): Balance at September 30, 2015 (Level 1) (Level 2) (Level 3) Cash equivalents: Money market funds $ 116,835 $ 115,539 $ 1,296 $ — Short-term investments: Corporate debt securities $ 2,307 $ 2,307 $ — $ — Other assets: Certificates of deposit $ 530 $ — $ 530 $ — Balance at December 31, 2014 (Level 1) (Level 2) (Level 3) Cash equivalents: Money market funds $ 100,570 $ 94,274 $ 6,296 $ — Short-term investments: Corporate debt securities $ 26,481 $ 26,481 $ — $ — Commercial paper $ 1,998 $ — $ 1,998 $ — Other assets: Certificates of deposit $ 630 $ — $ 630 $ — |
Components of Available-for-Sale Securities | At September 30, 2015, available-for-sale securities consisted of the following (in thousands): Available-for-Sale Securities Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value Corporate debt securities $ 2,333 $ — $ (26 ) $ 2,307 Total $ 2,333 $ — $ (26 ) $ 2,307 |
Expected Maturities of Short-term Investments in Available-for-Sale Securities | The expected maturities of our short-term investments in available-for-sale securities at September 30, 2015 are shown below (in thousands): Available-for-Sale Securities Amortized Cost Estimated Fair Value Due in less than one year $ 2,333 $ 2,307 Total $ 2,333 $ 2,307 |
Business Combinations (Tables)
Business Combinations (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Summary of Consideration Exchanged | The consideration exchanged consisted of the following (in thousands): Cash, net of cash acquired $ 4,670 Common stock issued (223,190 shares) 3,447 Holdback based on standard representations and warranties 1,500 Total initial consideration 9,617 Milestone based earn out (after valuation adjustment) 2,289 Total consideration $ 11,906 |
Summary of Fair Value of Assets Acquired | The following table summarizes the fair value of assets acquired as of the date of acquisition (in thousands): Cash and cash equivalents $ 74 Acquired intangible assets 3,850 Goodwill 7,982 Net assets acquired $ 11,906 |
Summary of Fair Value Components of Identifiable Acquired Intangible Assets And Their Estimated Useful Lives | The following table sets forth the fair value components of identifiable acquired intangible assets (in thousands) and their estimated useful lives (in years) as of the date of acquisition: Fair Value Estimated Useful Life Customer relationships $ 840 2 years Developed technology 3,010 5 years Total identifiable acquired intangible assets subject to amortization $ 3,850 |
Summary of Acquired Intangible Assets | Acquired intangible assets as of September 30, 2015 were as follows (in thousands): Gross Carrying Amount Accumulated Amortization Acquired Intangibles, Net Customer relationships $ 840 $ 135 $ 705 Developed technology 3,010 193 2,817 Total acquired intangible assets $ 3,850 $ 328 $ 3,522 |
Glip, Inc. | |
Summary of Estimated Amortization Expense for Acquired Intangible Assets | Estimated amortization expense for acquired intangible assets for the following five fiscal years and thereafter is as follows (in thousands): 2015 - remaining period $ 256 2016 1,022 2017 782 2018 602 2019 602 Thereafter 258 Total estimated amortization expense $ 3,522 |
Share-Based Compensation (Table
Share-Based Compensation (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | |
Summary of Share-Based Compensation Expense Recognized to Statements of Operations | A summary of share-based compensation expense recognized in the Company’s condensed consolidated statements of operations follows (in thousands): Three Months Ended Nine Months Ended September 30, September 30, 2015 2014 2015 2014 Cost of revenues $ 535 $ 330 $ 1,468 $ 974 Research and development 1,351 926 3,745 2,426 Sales and marketing 1,797 1,396 5,333 3,661 General and administrative 2,069 1,546 5,244 4,245 Total share-based compensation expense $ 5,752 $ 4,198 $ 15,790 $ 11,306 |
Summary of Share-Based Compensation Expense by Award Type | A summary of share-based compensation expense by award type follows (in thousands): Three Months Ended Nine Months Ended September 30, September 30, 2015 2014 2015 2014 Options $ 2,744 $ 2,740 $ 8,357 $ 7,812 Employee stock purchase plan rights 287 273 854 1,203 Restricted stock units 2,721 1,185 6,579 2,291 Total share-based compensation expense $ 5,752 $ 4,198 $ 15,790 $ 11,306 |
Summary of Stock Option Activity Plans | A summary of option activity under all of the Company’s equity incentive plans at September 30, 2015 and changes during the period then ended is presented in the following table: Weighted- Number of Weighted- Average Aggregate Options Average Contractual Intrinsic Outstanding Exercise Price Term Value (in thousands) Per Share (in Years) (in thousands) Outstanding at December 31, 2014 9,158 $ 8.23 7.2 $ 61,367 Granted 1,853 16.30 Exercised (1,556 ) 6.57 Canceled/Forfeited (651 ) 11.40 Outstanding at September 30, 2015 8,804 $ 9.99 6.4 $ 72,267 Vested and expected to vest as of September 30, 2015 8,698 $ 9.97 6.4 $ 71,556 Exercisable as of September 30, 2015 5,036 $ 7.03 6.2 $ 56,196 |
Weighted Average Grant Date Fair Value of Options Granted and Total Intrinsic Value of Options Exercised | The weighted average grant date fair value of options granted and the total intrinsic value of options exercised were as follows (in thousands, except weighted average grant date fair value): Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 Weighted average grant date fair value per share $ 7.48 $ 5.56 $ 6.76 $ 6.42 Total intrinsic value of options exercised $ 7,135 $ 3,944 $ 16,964 $ 26,429 |
Weighted Average Assumptions Used to Fair Value of Stock Options Granted | The weighted-average assumptions used in the option pricing models in the periods presented were as follows: Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 Expected term for employees (in years) 4.7 4.6 4.8 4.4 Expected term for non-employees (in years) 7.0 7.0 7.0 7.0 Risk-free interest rate 1.51 % 1.56 % 1.22 % 1.38 % Expected volatility 47 % 47 % 48 % 48 % Expected dividend rate 0 % 0 % 0 % 0 % |
Basic and Diluted Net Loss Pe21
Basic and Diluted Net Loss Per Share (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Earnings Per Share [Abstract] | |
Computation of Company's 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 per share data): Three Months Ended Nine Months Ended September 30, September 30, 2015 2014 2015 2014 Numerator Net loss $ (6,336 ) $ (11,986 ) $ (25,158 ) $ (38,220 ) Denominator Weighted-average common shares for basic and diluted net loss per share 70,580 67,800 69,614 66,313 Basic and diluted net loss per share $ (0.09 ) $ (0.18 ) $ (0.36 ) $ (0.58 ) |
Potential Shares of Common Stock Excluded from Diluted Weighted-Average Common Shares Outstanding | The following table sets forth the potential shares of common stock that were excluded from diluted weighted-average common shares outstanding (in thousands): Three Months Ended Nine Months Ended September 30, September 30, 2015 2014 2015 2014 Shares of common stock subject to repurchase 5 18 5 18 Shares of common stock issuable under equity incentive awards outstanding 11,037 10,284 11,037 10,284 Potential common shares excluded from diluted net loss per share 11,042 10,302 11,042 10,302 |
Components of Cash and Cash Equ
Components of Cash and Cash Equivalents (Detail) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | Dec. 31, 2013 |
Cash And Cash Equivalents [Abstract] | ||||
Cash | $ 13,195 | $ 12,800 | ||
Money market funds | 116,809 | 100,382 | ||
Total cash and cash equivalents | $ 130,004 | $ 113,182 | $ 120,691 | $ 116,378 |
Components of Accounts Receivab
Components of Accounts Receivable, Net (Detail) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Receivables [Abstract] | ||
Accounts receivable | $ 11,765 | $ 5,935 |
Unbilled accounts receivable | 3,677 | 1,841 |
Allowance for doubtful accounts | (255) | (125) |
Accounts receivable, net | $ 15,187 | $ 7,651 |
Components of Property and Equi
Components of Property and Equipment, Net (Detail) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Property Plant And Equipment [Line Items] | ||
Total property and equipment | $ 62,236 | $ 54,030 |
Less: accumulated depreciation and amortization | (33,152) | (28,503) |
Property and equipment, net | 29,084 | 25,527 |
Computer hardware and software | ||
Property Plant And Equipment [Line Items] | ||
Total property and equipment | 49,188 | 43,805 |
Internal-use software development costs | ||
Property Plant And Equipment [Line Items] | ||
Total property and equipment | 7,171 | 5,335 |
Furniture and fixtures | ||
Property Plant And Equipment [Line Items] | ||
Total property and equipment | 3,464 | 2,020 |
Leasehold improvements | ||
Property Plant And Equipment [Line Items] | ||
Total property and equipment | $ 2,413 | $ 2,870 |
Components of Accrued Liabiliti
Components of Accrued Liabilities (Detail) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Payables And Accruals [Abstract] | ||
Accrued compensation and benefits | $ 10,891 | $ 7,596 |
Accrued sales, use and telecom related taxes | 5,863 | 5,277 |
Other accrued expenses | 20,637 | 16,363 |
Total accrued liabilities | $ 37,391 | $ 29,236 |
Financial Assets Carried at Fai
Financial Assets Carried at Fair Value (Detail) - USD ($) $ in Thousands | Sep. 30, 2015 | Dec. 31, 2014 |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Short-term investments | $ 2,307 | $ 28,479 |
Fair Value, Measurements, Recurring | Money market funds | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Money market funds | 116,835 | 100,570 |
Fair Value, Measurements, Recurring | Money market funds | Level 1 | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Money market funds | 115,539 | 94,274 |
Fair Value, Measurements, Recurring | Money market funds | Level 2 | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Money market funds | 1,296 | 6,296 |
Fair Value, Measurements, Recurring | Corporate debt securities | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Short-term investments | 2,307 | 26,481 |
Fair Value, Measurements, Recurring | Corporate debt securities | Level 1 | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Short-term investments | 2,307 | 26,481 |
Fair Value, Measurements, Recurring | Certificates of deposit | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Certificates of deposit | 530 | 630 |
Fair Value, Measurements, Recurring | Certificates of deposit | Level 2 | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Certificates of deposit | $ 530 | 630 |
Fair Value, Measurements, Recurring | Commercial paper | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Short-term investments | 1,998 | |
Fair Value, Measurements, Recurring | Commercial paper | Level 2 | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Short-term investments | $ 1,998 |
Components of Available-for-Sal
Components of Available-for-Sale Securities (Detail) $ in Thousands | Sep. 30, 2015USD ($) |
Fair Value Inputs Assets Quantitative Information [Line Items] | |
Available-for-Sale Securities, Amortized Cost | $ 2,333 |
Available-for-Sale Securities, Gross Unrealized Losses | (26) |
Available-for-Sale Securities, Estimated Fair Value | 2,307 |
Corporate debt securities | |
Fair Value Inputs Assets Quantitative Information [Line Items] | |
Available-for-Sale Securities, Amortized Cost | 2,333 |
Available-for-Sale Securities, Gross Unrealized Losses | (26) |
Available-for-Sale Securities, Estimated Fair Value | $ 2,307 |
Expected Maturities of Short-te
Expected Maturities of Short-term Investment in Available-for-Sale Securities (Detail) $ in Thousands | Sep. 30, 2015USD ($) |
Available-for-Sale Securities, Amortized Cost | |
Due in less than one year, Amortized Cost | $ 2,333 |
Available-for-Sale Securities, Amortized Cost | 2,333 |
Available-for-Sale Securities, Estimated Fair Value | |
Due in less than one year, Estimated Fair Value | 2,307 |
Total, Estimated Fair Value | $ 2,307 |
Fair Value of Financial Instr29
Fair Value of Financial Instruments - Additional Information (Detail) - USD ($) | Sep. 30, 2015 | Dec. 31, 2014 |
Fair Value Disclosures [Abstract] | ||
Fair value of debt obligation | $ 20,012,000 | $ 25,671,000 |
Carrying value of debt obligation | $ 19,528,000 | $ 24,577,000 |
Business Combinations - Additio
Business Combinations - Additional Information (Detail) - Glip, Inc. - USD ($) | Jun. 04, 2015 | Sep. 30, 2015 | Sep. 30, 2015 |
Business Acquisition [Line Items] | |||
Business combination, consideration payable in combination of cash and common stock | $ 11,906,000 | ||
Business combination contingent consideration maximum potential cash payment | $ 2,000,000 | $ 2,000,000 | |
Business combination earn out period of contingent consideration | 2 years | ||
Business combination, fair value of milestone based earn out liability | $ 2,289,000 | 2,378,000 | $ 2,378,000 |
Business combination, contingent payment liability | 1,940,000 | 1,940,000 | |
Amortization expense of Intangible Assets | $ 256,000 | $ 328,000 | |
Customer Relationships | |||
Business Acquisition [Line Items] | |||
Weighted-average amortization periods | 1 year 8 months 12 days | ||
Developed Technology | |||
Business Acquisition [Line Items] | |||
Weighted-average amortization periods | 4 years 8 months 12 days | ||
Common Stock | |||
Business Acquisition [Line Items] | |||
Business combination, consideration common stock issued | 223,190 | ||
Business combination, consideration shares gross amount | $ 3,830,000 | ||
Business combination, consideration shares marketability discount | $ 383,000 |
Business Combinations - Summary
Business Combinations - Summary of Consideration Exchanged (Detail) - USD ($) | Jun. 04, 2015 | Sep. 30, 2015 |
Business Acquisition [Line Items] | ||
Cash, net of cash acquired | $ 4,670,000 | |
Glip, Inc. | ||
Business Acquisition [Line Items] | ||
Cash, net of cash acquired | $ 4,670,000 | |
Holdback based on standard representations and warranties | 1,500,000 | |
Total initial consideration | 9,617,000 | |
Milestone based earn out (after valuation adjustment) | 2,289,000 | $ 2,378,000 |
Total consideration | 11,906,000 | |
Glip, Inc. | Common Stock | ||
Business Acquisition [Line Items] | ||
Common stock issued (223,190 shares) | $ 3,447,000 |
Business Combinations - Summa32
Business Combinations - Summary of Consideration Exchanged (Parenthetical) (Detail) | Jun. 04, 2015shares |
Glip, Inc. | Common Stock | |
Business Acquisition [Line Items] | |
Business combination, consideration common stock issued | 223,190 |
Business Combinations - Summa33
Business Combinations - Summary of Fair Value of Assets Acquired (Detail) - USD ($) $ in Thousands | Sep. 30, 2015 | Jun. 04, 2015 |
Business Acquisition [Line Items] | ||
Goodwill | $ 9,393 | |
Glip, Inc. | ||
Business Acquisition [Line Items] | ||
Cash and cash equivalents | $ 74 | |
Acquired intangible assets | 3,850 | |
Goodwill | 7,982 | |
Net assets acquired | $ 11,906 |
Business Combinations - Summa34
Business Combinations - Summary of Fair Value Components of Identifiable Acquired Intangible Assets And Their Estimated Useful Lives (Detail) - Glip, Inc. $ in Thousands | Jun. 04, 2015USD ($) |
Business Acquisition [Line Items] | |
Total identifiable acquired intangible assets subject to amortization, Fair value | $ 3,850 |
Customer Relationships | |
Business Acquisition [Line Items] | |
Total identifiable acquired intangible assets subject to amortization, Fair value | $ 840 |
Total identifiable acquired intangible assets subject to amortization, Estimated useful life | 2 years |
Developed Technology | |
Business Acquisition [Line Items] | |
Total identifiable acquired intangible assets subject to amortization, Fair value | $ 3,010 |
Total identifiable acquired intangible assets subject to amortization, Estimated useful life | 5 years |
Business Combinations - Summa35
Business Combinations - Summary of Acquired Intangible Assets (Detail) $ in Thousands | Sep. 30, 2015USD ($) |
Business Acquisition [Line Items] | |
Acquired Intangibles, Net | $ 3,522 |
Glip, Inc. | |
Business Acquisition [Line Items] | |
Gross Carrying Amount | 3,850 |
Accumulated Amortization | 328 |
Acquired Intangibles, Net | 3,522 |
Glip, Inc. | Customer Relationships | |
Business Acquisition [Line Items] | |
Gross Carrying Amount | 840 |
Accumulated Amortization | 135 |
Acquired Intangibles, Net | 705 |
Glip, Inc. | Developed Technology | |
Business Acquisition [Line Items] | |
Gross Carrying Amount | 3,010 |
Accumulated Amortization | 193 |
Acquired Intangibles, Net | $ 2,817 |
Business Combinations - Summa36
Business Combinations - Summary of Estimated Amortization Expense for Acquired Intangible Assets (Detail) $ in Thousands | Sep. 30, 2015USD ($) |
Acquired Indefinite Lived Intangible Assets [Line Items] | |
Acquired Intangibles, Net | $ 3,522 |
Glip, Inc. | |
Acquired Indefinite Lived Intangible Assets [Line Items] | |
2015 - remaining period | 256 |
2,016 | 1,022 |
2,017 | 782 |
2,018 | 602 |
2,019 | 602 |
Thereafter | 258 |
Acquired Intangibles, Net | $ 3,522 |
Debt - Additional Information (
Debt - Additional Information (Detail) | Dec. 31, 2013USD ($)Installment | Sep. 30, 2015USD ($) | Dec. 31, 2014USD ($) |
Debt Instrument [Line Items] | |||
Long-term debt | $ 15,778,000 | $ 7,813,000 | |
Revolving Credit Facility | |||
Debt Instrument [Line Items] | |||
Interest rate on debt | 3.50% | ||
Revolving line of credit, maximum borrowing amount | $ 15,000,000 | ||
Line of credit facility, expiration date prior to amendment | Aug. 13, 2015 | ||
Debt instrument maturity date | Aug. 14, 2017 | ||
Borrowing under the revolving line of credit facility | $ 10,778,000 | ||
Line of credit, available borrowing capacity | $ 4,222,000 | ||
Revolving Credit Facility | Required Cash Balances Maintained With Silicon Valley Bank | Prime Rate | |||
Debt Instrument [Line Items] | |||
Percentage of margin | 0.25% | ||
Revolving Credit Facility | Required Cash Balances Maintained With Silicon Valley Bank | LIBOR Rate | |||
Debt Instrument [Line Items] | |||
Percentage of margin | 3.25% | ||
Revolving Credit Facility | Required Cash Balances Not Maintained With Silicon Valley Bank | Prime Rate | |||
Debt Instrument [Line Items] | |||
Percentage of margin | 0.50% | ||
Revolving Credit Facility | Required Cash Balances Not Maintained With Silicon Valley Bank | LIBOR Rate | |||
Debt Instrument [Line Items] | |||
Percentage of margin | 3.50% | ||
SVB Loan Agreement | Minimum | |||
Debt Instrument [Line Items] | |||
Debt covenant requirement | $ 10,000,000 | ||
SVB Loan Agreement | 2012 Capital Growth Term Loan | |||
Debt Instrument [Line Items] | |||
Debt instrument maturity date, month and year | 2015-03 | ||
SVB Loan Agreement | 2013 Capital Growth Term Loan | |||
Debt Instrument [Line Items] | |||
Term loan | $ 15,000,000 | ||
Number of monthly installments for principal and interest payment | Installment | 48 | ||
Interest rate on debt | 4.00% | ||
Outstanding balance of term loan | $ 8,750,000 | ||
Long-term debt | $ 5,000,000 | ||
Debt instrument, maturity, description | due beyond September 30, 2016 | ||
SVB Loan Agreement | 2013 Capital Growth Term Loan | Required Cash Balances Maintained With Silicon Valley Bank | Prime Rate | |||
Debt Instrument [Line Items] | |||
Percentage of margin | 0.75% | ||
SVB Loan Agreement | 2013 Capital Growth Term Loan | Required Cash Balances Maintained With Silicon Valley Bank | LIBOR Rate | |||
Debt Instrument [Line Items] | |||
Percentage of margin | 3.75% | ||
SVB Loan Agreement | 2013 Capital Growth Term Loan | Required Cash Balances Not Maintained With Silicon Valley Bank | Prime Rate | |||
Debt Instrument [Line Items] | |||
Percentage of margin | 1.00% | ||
SVB Loan Agreement | 2013 Capital Growth Term Loan | Required Cash Balances Not Maintained With Silicon Valley Bank | LIBOR Rate | |||
Debt Instrument [Line Items] | |||
Percentage of margin | 4.00% |
Commitments and Contingencies -
Commitments and Contingencies - Additional Information (Detail) - USD ($) | Aug. 14, 2015 | Mar. 09, 2015 | Feb. 25, 2015 | Sep. 30, 2015 | Dec. 31, 2014 | Sep. 25, 2014 |
Loss Contingencies [Line Items] | ||||||
Lease commitment | $ 17,497,000 | |||||
Lease incentives | $ 1,486,000 | |||||
Additional lease payments | $ 0 | |||||
Long-term sales tax liability | $ 3,887,000 | $ 3,953,000 | ||||
Current sales tax liability for non-contingent amounts | 4,997,000 | 4,178,000 | ||||
Accrued liabilities recorded for loss contingencies | $ 0 | $ 0 | ||||
Third Party Network Service Provider | ||||||
Loss Contingencies [Line Items] | ||||||
Lease minimum commitment, per month | $ 170,000 | |||||
Commitment term | 2 years | |||||
Commitment description | The commitment requires us to pay the higher of (i) our actual invoice or (ii) the monthly commitment amount. | |||||
San Mateo | ||||||
Loss Contingencies [Line Items] | ||||||
Termination date of the lease | May 31, 2017 | |||||
San Mateo | Accelerated Lease Termination Date Agreement | ||||||
Loss Contingencies [Line Items] | ||||||
Termination date of the lease | Apr. 30, 2015 |
Share-Based Compensation - Summ
Share-Based Compensation - Summary of Share-Based Compensation Expense Recognized to Statements of Operations (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items] | ||||
Share-based compensation expense | $ 5,752 | $ 4,198 | $ 15,790 | $ 11,306 |
Cost of Revenues | ||||
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items] | ||||
Share-based compensation expense | 535 | 330 | 1,468 | 974 |
Research and Development | ||||
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items] | ||||
Share-based compensation expense | 1,351 | 926 | 3,745 | 2,426 |
Sales and Marketing | ||||
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items] | ||||
Share-based compensation expense | 1,797 | 1,396 | 5,333 | 3,661 |
General and Administrative | ||||
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items] | ||||
Share-based compensation expense | $ 2,069 | $ 1,546 | $ 5,244 | $ 4,245 |
Share-Based Compensation - Su40
Share-Based Compensation - Summary of Share-Based Compensation Expense by Award Type (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||
Share-based compensation expense | $ 5,752 | $ 4,198 | $ 15,790 | $ 11,306 |
Options | ||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||
Share-based compensation expense | 2,744 | 2,740 | 8,357 | 7,812 |
Restricted Stock Units | ||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||
Share-based compensation expense | 2,721 | 1,185 | 6,579 | 2,291 |
Employee Stock Purchase Plan Rights | ||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||
Share-based compensation expense | $ 287 | $ 273 | $ 854 | $ 1,203 |
Share-Based Compensation - Addi
Share-Based Compensation - Additional Information (Detail) - USD ($) | 9 Months Ended | 12 Months Ended |
Sep. 30, 2015 | Dec. 31, 2014 | |
Class A common stock | ||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||
Restricted Stock units issued | 1,089,000 | |
Employee Stock Purchase Plan | ||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||
Unrecognized share-based compensation expense, remaining weighted-average vesting periods | 1 month 6 days | |
Available for future grants | 2,024,000 | |
Eligible compensation under the Employee Stock Purchase Plan | 15.00% | |
Purchase of maximum shares by employees under Employee Stock Purchase Plan | 3,000 | |
Percentage of fair value of Common stock offering | 90.00% | |
Unrecognized share-based compensation expense | $ 131,000 | |
2013 Equity incentive plan | ||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||
Available for future grants | 7,997,000 | |
Employee Stock Option | ||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||
Unrecognized share-based compensation expense | $ 21,799,000 | $ 20,069,000 |
Unrecognized share-based compensation expense, remaining weighted-average vesting periods | 2 years 7 months 6 days | 2 years 4 months 24 days |
Restricted Stock Units | Class A common stock | ||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||
Weighted average grant date fair value per share of equity-based awards other than stock option plans | $ 17.33 | |
Restricted Stock Units (RSUs) | ||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||
Unrecognized share-based compensation expense, remaining weighted-average vesting periods | 3 years 1 month 6 days | |
Unrecognized share-based compensation expense | $ 90,883,000 |
Share-Based Compensation - Su42
Share-Based Compensation - Summary of Stock Option Activity Plans (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2015 | Dec. 31, 2014 | |
Number of Options Outstanding | ||
Number of Options Outstanding, Beginning Balance | 9,158 | |
Number of Options Outstanding, Granted | 1,853 | |
Number of Options Outstanding, Exercised | (1,556) | |
Number of Options Outstanding, Canceled/Forfeited | (651) | |
Number of Options Outstanding, Ending Balance | 8,804 | 9,158 |
Number of Options Outstanding, Vested and expected to vest | 8,698 | |
Number of Options Outstanding, Exercisable | 5,036 | |
Weighted-Average Exercise Price Per Share | ||
Weighted Average Exercise Price Per Share, Beginning Balance | $ 8.23 | |
Weighted Average Exercise Price Per Share, Granted | 16.30 | |
Weighted Average Exercise Price Per Share, Exercised | 6.57 | |
Weighted Average Exercise Price Per Share, Canceled/Forfeited | 11.40 | |
Weighted Average Exercise Price Per Share, Ending Balance | 9.99 | $ 8.23 |
Weighted Average Exercise Price Per Share, Vested and expected to vest | 9.97 | |
Weighted Average Exercise Price Per Share, Exercisable | $ 7.03 | |
Weighted-Average Contractual Term | ||
Weighted-Average Contractual Term | 6 years 4 months 24 days | 7 years 2 months 12 days |
Weighted-Average Contractual Term, Vested and expected to vest | 6 years 4 months 24 days | |
Weighted-Average Contractual Term, Exercisable | 6 years 2 months 12 days | |
Aggregate Intrinsic Value | ||
Aggregate Intrinsic Value, Beginning Balance | $ 61,367 | |
Aggregate Intrinsic Value, Ending Balance | 72,267 | $ 61,367 |
Aggregate Intrinsic Value, Vested and expected to vest | 71,556 | |
Aggregate Intrinsic Value, Exercisable | $ 56,196 |
Share-Based Compensation - Weig
Share-Based Compensation - Weighted Average Grant Date Fair Value of Options Granted and Total Intrinsic Value of Options Exercised (Detail) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ||||
Weighted average grant date fair value per share | $ 7.48 | $ 5.56 | $ 6.76 | $ 6.42 |
Total intrinsic value of options exercised | $ 7,135 | $ 3,944 | $ 16,964 | $ 26,429 |
Share-Based Compensation - We44
Share-Based Compensation - Weighted Average Assumptions Used to Fair Value of Stock Options Granted (Detail) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||
Risk-free interest rate | 1.51% | 1.56% | 1.22% | 1.38% |
Expected volatility | 47.00% | 47.00% | 48.00% | 48.00% |
Expected dividend rate | 0.00% | 0.00% | 0.00% | 0.00% |
Options | ||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||
Expected term (in years) | 4 years 8 months 12 days | 4 years 7 months 6 days | 4 years 9 months 18 days | 4 years 4 months 24 days |
Non Employee Stock Option | ||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||
Expected term (in years) | 7 years | 7 years | 7 years | 7 years |
Concentrations - Additional Inf
Concentrations - Additional Information (Detail) - Geographic Concentration Risk - Country | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | Dec. 31, 2014 | |
Non-US [Member] | Property, Plant and Equipment | |||||
Concentration Risk [Line Items] | |||||
Number of foreign countries representing more than ten percent | 0 | 0 | 0 | ||
Minimum | United States | Sales Revenue, Segment | |||||
Concentration Risk [Line Items] | |||||
Concentration risk | 90.00% | 90.00% | 90.00% | 90.00% | |
Minimum | United States | Property, Plant and Equipment | |||||
Concentration Risk [Line Items] | |||||
Concentration risk | 86.00% | 87.00% |
Income Taxes - Additional Infor
Income Taxes - Additional Information (Detail) - USD ($) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2015 | Jun. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Income Taxes [Line Items] | |||||
Provision (benefit) for income taxes | $ (56,000) | $ 19,000 | $ (1,342,000) | $ 184,000 | |
One-time tax benefit | 1,411,000 | ||||
Unrecognized tax benefits | $ 0 | $ 0 | |||
Glip, Inc. | |||||
Income Taxes [Line Items] | |||||
One-time tax benefit | $ 1,411,000 |
Basic and Diluted Net Loss Pe47
Basic and Diluted Net Loss Per Share - Computation of Company's Basic and Diluted Net Loss Per Share of Common Stock (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Numerator | ||||
Net loss | $ (6,336) | $ (11,986) | $ (25,158) | $ (38,220) |
Denominator | ||||
Weighted-average common shares for basic and diluted net loss per share | 70,580 | 67,800 | 69,614 | 66,313 |
Basic and diluted net loss per share | $ (0.09) | $ (0.18) | $ (0.36) | $ (0.58) |
Basic and Diluted Net Loss Pe48
Basic and Diluted Net Loss Per Share - Potential Shares of Common Stock Excluded from Diluted Weighted-Average Common Shares Outstanding (Detail) - shares shares in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items] | ||||
Potential common shares excluded from diluted net loss per share | 11,042 | 10,302 | 11,042 | 10,302 |
Repurchase Common Stock | ||||
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items] | ||||
Potential common shares excluded from diluted net loss per share | 5 | 18 | 5 | 18 |
Equity Incentive Plans | ||||
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items] | ||||
Potential common shares excluded from diluted net loss per share | 11,037 | 10,284 | 11,037 | 10,284 |