Document and Entity Information
Document and Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2020 | Feb. 08, 2021 | Jun. 30, 2020 | |
Entity Information [Line Items] | |||
Document Type | 10-K | ||
Entity File Number | 001-33554 | ||
Document Annual Report | true | ||
Document Period End Date | Dec. 31, 2020 | ||
Document Transition Report | false | ||
Entity Registrant Name | PROS HOLDINGS, INC. | ||
Entity Incorporation, State or Country Code | DE | ||
Entity Tax Identification Number | 76-0168604 | ||
Entity Address, Address Line One | 3200 Kirby Drive, Suite 600 | ||
Entity Address, City or Town | Houston, | ||
Entity Address, State or Province | TX | ||
Entity Address, Postal Zip Code | 77098 | ||
City Area Code | 713 | ||
Local Phone Number | 335-5151 | ||
Title of 12(b) Security | Common Stock, $0.001 par value per share | ||
Trading Symbol | PRO | ||
Security Exchange Name | NYSE | ||
Entity Well-known Seasoned Issuer | Yes | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Interactive Data Current | Yes | ||
Entity Filer Category | Large Accelerated Filer | ||
Entity Small Business | false | ||
Entity Emerging Growth Company | false | ||
Entity Shell Company | false | ||
Entity Public Float | $ 1,726,848,858 | ||
Entity Common Stock, Shares Outstanding | 44,235,427 | ||
Entity Central Index Key | 0001392972 | ||
Current Fiscal Year End Date | --12-31 | ||
Document Fiscal Year Focus | 2020 | ||
Document Fiscal Period Focus | FY | ||
Amendment Flag | false |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Current assets: | ||
Cash and cash equivalents | $ 329,134 | $ 306,077 |
Trade and other receivables, net of allowance of $4,122 and $214, respectively | 49,578 | 65,074 |
Deferred Costs, Current | 5,941 | 5,756 |
Prepaid and other current assets | 9,647 | 9,038 |
Total current assets | 394,300 | 385,945 |
Property and equipment, net | 36,504 | 14,794 |
Operating Lease, Right-of-Use Asset | 30,689 | 26,550 |
Deferred Costs, Noncurrent | 12,544 | 15,478 |
Intangible Assets, Net (Excluding Goodwill) | 8,341 | 14,605 |
Goodwill | 50,044 | 49,104 |
Other Assets, Noncurrent | 7,549 | 6,831 |
Total assets | 539,971 | 513,307 |
Current liabilities: | ||
Accounts payable | 4,246 | 9,098 |
Accrued liabilities | 13,065 | 22,748 |
Accrued payroll and other employee benefits | 25,514 | 32,656 |
Operating Lease, Liability, Current | 5,937 | 7,173 |
Deferred Revenue, Current | 99,156 | 124,459 |
Total current liabilities | 147,918 | 196,134 |
Deferred Revenue, Noncurrent | 11,372 | 17,801 |
Convertible Debt, Noncurrent | 218,028 | 110,704 |
Operating Lease, Liability, Noncurrent | 44,099 | 22,391 |
Other Liabilities, Noncurrent | 1,517 | 1,281 |
Total liabilities | 422,934 | 348,311 |
Commitments and contingencies (Note 18) | ||
Stockholders' equity: | ||
Preferred stock, $0.001 par value, 5,000,000 shares authorized none issued | 0 | 0 |
Common stock, $0.001 par value, 75,000,000 shares authorized; 48,142,267 and 47,310,846 shares issued, respectively; 43,461,544 and 42,630,123 shares outstanding, respectively | 48 | 47 |
Additional paid-in capital | 589,040 | 560,496 |
Treasury Stock, Value | (29,847) | (29,847) |
Retained Earnings (Accumulated Deficit) | (438,773) | (361,789) |
Accumulated Other Comprehensive Income (Loss), Net of Tax | (3,431) | (3,911) |
Total stockholders' equity | 117,037 | 164,996 |
Total liabilities and stockholders' equity | $ 539,971 | $ 513,307 |
Treasury stock - shares | 4,680,723 | 4,680,723 |
Preferred stock - par value | $ 0.001 | $ 0.001 |
Preferred stock - shares authorized | 5,000,000 | 5,000,000 |
Preferred stock - shares issued | 0 | 0 |
Common stock - par value | $ 0.001 | $ 0.001 |
Common stock - shares authorized | 75,000,000 | 75,000,000 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) | Dec. 31, 2020 | Dec. 31, 2019 |
Statement of Financial Position [Abstract] | ||
Allowance for bad debts | $ 4,122,000 | $ 214,000 |
Preferred stock - par value | $ 0.001 | $ 0.001 |
Preferred stock - shares authorized | 5,000,000 | 5,000,000 |
Preferred stock - shares issued | 0 | 0 |
Common stock - par value | $ 0.001 | $ 0.001 |
Common stock - shares authorized | 75,000,000 | 75,000,000 |
Common stock - shares issued | 48,142,267 | 47,310,846 |
Common stock - shares outstanding | 43,461,544 | 42,630,123 |
Treasury stock - shares | 4,680,723 | 4,680,723 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Loss) - USD ($) shares in Thousands, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Revenue from Contract with Customer, Including Assessed Tax | $ 252,424 | $ 250,334 | $ 197,024 |
Cost of revenue: | |||
Cost of Goods and Services Sold | 104,633 | 99,117 | 77,179 |
Gross profit | 147,791 | 151,217 | 119,845 |
Operating Expenses | |||
Selling and Marketing Expense | 87,182 | 89,553 | 72,006 |
General and Administrative Expense | 51,075 | 47,254 | 41,302 |
Research and development | 75,614 | 67,246 | 55,657 |
Business Combination, Acquisition Related Costs | 0 | 502 | 95 |
Income from operations | (66,080) | (53,338) | (49,215) |
Other income (expense): | |||
Convertible debt interest and amortization | (11,125) | (14,765) | (16,986) |
Other Nonoperating Income (Expense) | 897 | (354) | 2,155 |
Income (loss) before income tax provision | (76,308) | (68,457) | (64,046) |
Income Tax Expense (Benefit) | 676 | 624 | 200 |
Net Income (Loss) Attributable to Parent | $ (76,984) | $ (69,081) | $ (64,246) |
Net earnings (loss) per share: | |||
Earnings Per Share, Basic and Diluted | $ (1.78) | $ (1.72) | $ (1.86) |
Weighted average number of shares: | |||
Weighted Average Number of Shares Outstanding, Basic and Diluted | 43,301 | 40,232 | 34,465 |
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax | $ 480 | $ (537) | $ (558) |
Other Comprehensive Income (Loss), Net of Tax | 480 | (537) | (558) |
Other comprehensive income, net of tax: | |||
Comprehensive income (loss) | (76,504) | (69,618) | (64,804) |
Subscription and Circulation [Member] | |||
Revenue from Contract with Customer, Including Assessed Tax | 170,473 | 145,327 | 98,708 |
Cost of revenue: | |||
Cost of Goods and Services Sold | 51,673 | 42,339 | 35,619 |
Maintenance [Member] | |||
Revenue from Contract with Customer, Including Assessed Tax | 44,692 | 58,184 | 64,760 |
Cost of revenue: | |||
Cost of Goods and Services Sold | 9,880 | 11,052 | 11,602 |
Subscription, maintenance and support | |||
Revenue from Contract with Customer, Including Assessed Tax | 215,165 | 203,511 | 163,468 |
Cost of revenue: | |||
Cost of Goods and Services Sold | 61,553 | 53,391 | 47,221 |
Service [Member] | |||
Revenue from Contract with Customer, Including Assessed Tax | 37,259 | 46,823 | 33,556 |
Cost of revenue: | |||
Cost of Goods and Services Sold | $ 43,080 | $ 45,726 | $ 29,958 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Operating activities: | |||
Net Income (Loss) Attributable to Parent | $ (76,984,000) | $ (69,081,000) | $ (64,246,000) |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Depreciation, Depletion and Amortization | 14,334,000 | 13,870,000 | 13,055,000 |
Amortization of Financing Costs and Discounts | 8,743,000 | 11,115,000 | 12,027,000 |
Share-based compensation | 24,399,000 | 24,680,000 | 21,453,000 |
Deferred income tax | 0 | (119,000) | (463,000) |
Provision for doubtful accounts | 4,783,000 | (754,000) | 212,000 |
Loss on Disposition of Assets | 0 | 0 | 37,000 |
Loss on Extinguishment of Debt | 0 | 5,660,000 | 0 |
Changes in operating assets and liabilities: | |||
Accounts and unbilled receivables | 10,450,000 | (22,273,000) | (9,550,000) |
Increase (Decrease) in Deferred Costs | 2,749,000 | (3,772,000) | (4,086,000) |
Prepaid expenses and other assets | (1,376,000) | (5,044,000) | 87,000 |
Increase (Decrease) in Operating Lease Right-of-Use Assets and Liabilities | 16,974,000 | (61,000) | 0 |
Accounts payable | (4,817,000) | 2,550,000 | 3,931,000 |
Accrued liabilities | (9,848,000) | 15,455,000 | 2,764,000 |
Accrued payroll and other employee benefits | (7,106,000) | 7,937,000 | 5,830,000 |
Deferred revenue | (31,690,000) | 25,082,000 | 24,652,000 |
Net cash (used in) provided by operating activities | (49,389,000) | 5,245,000 | 5,703,000 |
Investing activities: | |||
Purchases of property and equipment | (28,493,000) | (5,271,000) | (1,475,000) |
Payments to Acquire Other Investments | (281,000) | (293,000) | (45,000) |
Payments to Acquire Businesses, Net of Cash Acquired | 0 | (10,510,000) | 0 |
Capitalized Software Development Costs for Software Sold to Customers | (1,686,000) | (1,436,000) | (4,613,000) |
Payments to Acquire Intangible Assets | 0 | (50,000) | (125,000) |
Net cash (used in) provided by investing activities | (30,460,000) | (17,560,000) | (6,258,000) |
Financing activities: | |||
Exercise of stock options | 0 | 0 | 1,142,000 |
Proceeds from Stock Plans | 2,824,000 | 1,995,000 | 1,720,000 |
Tax withholding related to net share settlement of restricted stock units | (20,481,000) | (23,753,000) | (9,410,000) |
Proceeds from Issuance of Common Stock | 0 | 0 | 141,954,000 |
Repayments of Notes Payable | 0 | 0 | (54,000) |
Proceeds from Convertible Debt | 146,925,000 | 140,156,000 | 0 |
Payments of Debt Issuance Costs | (1,019,000) | (860,000) | 0 |
Purchase of capped call | (25,335,000) | (16,445,000) | 0 |
Payment for Debt Extinguishment or Debt Prepayment Cost | 0 | (97,678,000) | 0 |
Proceeds from bond hedge termination | 0 | 64,819,000 | 0 |
Payment for warrant termination | 0 | (45,243,000) | 0 |
Net cash (used in) provided by financing activities | 102,914,000 | 22,991,000 | 135,352,000 |
Effect of Exchange Rate on Cash and Cash Equivalents | (8,000) | (75,000) | 174,000 |
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | 23,057,000 | 10,601,000 | 134,971,000 |
Cash and cash equivalents: | |||
Beginning of period | 306,077,000 | 295,476,000 | 160,505,000 |
End of period | 329,134,000 | 306,077,000 | 295,476,000 |
Income Taxes Paid, Net | (341,000) | (308,000) | (262,000) |
Interest Paid, Including Capitalized Interest, Operating and Investing Activities | (1,680,000) | (3,499,000) | (5,252,000) |
Capital Expenditures Incurred but Not yet Paid | $ 341,000 | 891,000 | $ 247,000 |
Travelaer Acquisition [Member] | |||
Investing activities: | |||
Payments to Acquire Businesses, Net of Cash Acquired | $ 10,500,000 |
Consolidated Statement of Share
Consolidated Statement of Shareholders Equity - USD ($) $ in Thousands | Total | Common Stock [Member] | Additional Paid-in Capital [Member] | Treasury Stock, Common [Member] | Treasury Stock [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income, net of tax [Member] |
Common stock - shares outstanding, beginning balance at Dec. 31, 2017 | 31,939,175 | ||||||
Stockholders' Equity Attributable to Parent at Dec. 31, 2017 | $ (46,979) | $ 36 | $ 207,924 | $ (13,938) | $ (238,185) | $ (2,816) | |
Treasury stock - shares, beginning balance at Dec. 31, 2017 | 4,417,585 | ||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||
Stock Issued During Period, Value, New Issues | 161,997 | ||||||
Exercise of stock options | $ 1 | ||||||
Proceeds from Stock Options Exercised | 1,142 | 1,141 | |||||
Stock Issued During Period, Shares, Restricted Stock Award, Net of Forfeitures | 609,188 | ||||||
Stock Issued During Period, Value, Restricted Stock Award, Gross | (9,410) | $ 1 | (9,411) | ||||
Stock Issued During Period, Shares, Employee Stock Purchase Plans | 75,546 | ||||||
Proceeds from Stock Plans | 1,720 | 1,720 | |||||
Stock Issued During Period, Shares, Secondary Offering | 4,370,000 | ||||||
Stock Issued During Period, Value, Secondary Offering | $ 4 | ||||||
APIC, Share-based Payment Arrangement, Increase for Cost Recognition | 21,553 | 21,553 | |||||
Cumulative effect of adoption of section 606 | 9,723 | 9,723 | |||||
Adjustments to Additional Paid in Capital, Equity Component of Convertible Debt | 141,954 | 141,950 | |||||
Purchase of capped call | 0 | ||||||
Share-based Payment Arrangement, Noncash Expense | 21,453 | ||||||
Other Comprehensive Income (Loss), Net of Tax | (558) | (558) | |||||
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax | (558) | ||||||
Net Income (Loss) Attributable to Parent | (64,246) | (64,246) | |||||
Stockholders' Equity Attributable to Parent at Dec. 31, 2018 | 54,899 | $ 42 | 364,877 | $ (13,938) | (292,708) | (3,374) | |
Treasury stock - shares, ending balance at Dec. 31, 2018 | 4,417,585 | ||||||
Common stock - shares outstanding, ending balance at Dec. 31, 2018 | 37,155,906 | ||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||
Proceeds from Stock Options Exercised | 0 | ||||||
Stock Issued During Period, Shares, Restricted Stock Award, Net of Forfeitures | 958,264 | ||||||
Stock Issued During Period, Value, Restricted Stock Award, Gross | (23,753) | $ 1 | (23,754) | ||||
Stock Issued During Period, Shares, Employee Stock Purchase Plans | 75,304 | ||||||
Proceeds from Stock Plans | 1,995 | 1,995 | |||||
Stock Issued During Period, Shares, Secondary Offering | 4,703,787 | ||||||
Stock Issued During Period, Value, Secondary Offering | 140,849 | $ 4 | 140,845 | ||||
APIC, Share-based Payment Arrangement, Increase for Cost Recognition | 24,608 | 24,608 | |||||
Adjustments to Additional Paid in Capital, Equity Component of Convertible Debt | $ 32,883 | 32,883 | |||||
Stock Repurchased During Period, Shares | 300,000 | (263,138) | |||||
Adjustment to additional paid-in capital, exercise of note hedge | $ 2 | 15,911 | |||||
Treasury Stock, Shares, Acquired | 263,138 | ||||||
Treasury Stock, Value, Acquired, Cost Method | $ (15,909) | ||||||
Adjustment to additional paid in capital, termination of bond hedge and warrant | 64,819 | 64,819 | |||||
Adjustment to additional paid in capital, termination of warrant | (45,243) | (45,243) | |||||
Adjustment to additional paid in capital, purchase of capped call | (16,445) | (16,445) | |||||
Purchase of capped call | 16,445 | ||||||
Share-based Payment Arrangement, Noncash Expense | 24,680 | ||||||
Other Comprehensive Income (Loss), Net of Tax | (537) | (537) | |||||
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax | (537) | ||||||
Net Income (Loss) Attributable to Parent | (69,081) | (69,081) | |||||
Stockholders' Equity Attributable to Parent at Dec. 31, 2019 | $ 164,996 | $ 47 | 560,496 | $ (29,847) | (361,789) | (3,911) | |
Treasury stock - shares, ending balance at Dec. 31, 2019 | 4,680,723 | 4,680,723 | |||||
Common stock - shares outstanding, ending balance at Dec. 31, 2019 | 42,630,123 | 42,630,123 | |||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||
Proceeds from Stock Options Exercised | $ 0 | ||||||
Stock Issued During Period, Shares, Restricted Stock Award, Net of Forfeitures | 765,801 | ||||||
Stock Issued During Period, Value, Restricted Stock Award, Gross | $ (20,481) | $ 1 | (20,482) | ||||
Stock Issued During Period, Shares, Employee Stock Purchase Plans | 65,457 | 65,457 | |||||
Proceeds from Stock Plans | $ 2,824 | 2,824 | |||||
APIC, Share-based Payment Arrangement, Increase for Cost Recognition | 24,322 | 24,322 | |||||
Adjustments to Additional Paid in Capital, Equity Component of Convertible Debt | 47,215 | 47,215 | |||||
Adjustment to additional paid in capital, purchase of capped call | (25,335) | (25,335) | |||||
Purchase of capped call | 25,335 | ||||||
Share-based Payment Arrangement, Noncash Expense | 24,399 | ||||||
Other Comprehensive Income (Loss), Net of Tax | 480 | 480 | |||||
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax | 480 | ||||||
Net Income (Loss) Attributable to Parent | (76,984) | (76,984) | |||||
Stockholders' Equity Attributable to Parent at Dec. 31, 2020 | $ 117,037 | $ 48 | $ 589,040 | $ (29,847) | $ (438,773) | $ (3,431) | |
Treasury stock - shares, ending balance at Dec. 31, 2020 | 4,680,723 | 4,680,723 | |||||
Common stock - shares outstanding, ending balance at Dec. 31, 2020 | 43,461,544 | 43,461,544 | |||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||
Warrant Exercise, Shares | 0 | 163 |
Organization and Nature of Oper
Organization and Nature of Operations | 12 Months Ended |
Dec. 31, 2020 | |
Organization and Nature of Operations [Abstract] | |
Organization and nature of operations | Organization and Nature of OperationsPROS Holdings, Inc., a Delaware corporation, through its operating subsidiaries (collectively, the "Company"), provides solutions that optimize the processes of selling and shopping in the digital economy. PROS solutions leverage artificial intelligence ("AI"), self-learning and automation to ensure that every transactional experience is fast, frictionless and personalized for every shopper, supporting both business-to-business ("B2B") and business-to-consumer ("B2C") companies across industry verticals. Companies can use the Company's selling, pricing, revenue optimization and eCommerce solutions to assess their market environments in real time to deliver customized prices and offers. The Company's solutions enable buyers to move fluidly across its customers’ direct sales, partner, online, mobile and emerging channels with personalized experiences regardless of which channel those buyers choose. The Company's decades of data science and AI expertise are infused into its solutions and are designed to reduce time and complexity through actionable intelligence. The Company provides standard configurations of its solutions based on the industries it serves and offers services to configure its solutions to meet the specific needs of each customer. |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2020 | |
Accounting Policies [Abstract] | |
Significant Accounting Policies [Text Block] | Summary of Significant Accounting Policies Principles of Consolidation and Basis of Presentation These Consolidated Financial Statements include the accounts of the Company and its wholly-owned subsidiaries. All significant intercompany transactions and balances have been eliminated in consolidation. The Consolidated Financial Statements have been prepared in accordance with generally accepted accounting principles in the United States of America ("GAAP"). Certain prior year amounts have been reclassified for consistency with the current year presentation. This insignificant reclassification had no effect on the reported results of operations. License revenue and license cost of revenue are now combined with subscription revenue and subscription cost of revenue, respectively. Risks and uncertainties Coronavirus ("COVID-19") continues to spread throughout the U.S. and the world and c ompliance with the various containment measures implemented by governmental authorities has impacted the Company's business, as well as the businesses of its customers, suppliers and other counterparties, and this impact could last for an indefinite period of time. There are no comparable recent events that provide guidance as to the effect of the spread of COVID-19 as a global pandemic, and a s a result, the Company is unable to predict the full impact that COVID-19 will have on its results from operations, financial condition, liquidity and cash flows due to numerous uncertainties, including the duration and severity of the pandemic and containment measures . Changes in Accounting Policies The Company has consistently applied the accounting policies described in this Note 2 to all periods presented in these Consolidated Financial Statements, except for the Company's adoption of certain accounting standards described in more detail under " Recently adopted accounting pronouncements " in this Note 2 below. Dollar Amounts The dollar amounts presented in the tabular data within these footnote disclosures are stated in thousands of dollars, except per share amounts, or as noted within the context of each footnote disclosure. Use of Estimates The preparation of these Consolidated Financial Statements in conformity with GAAP requires the Company to make certain estimates, judgments and assumptions that affect the reported amounts of assets, liabilities, revenues, costs and expenses during the reporting period. The complexity and judgment required in the Company's estimation process, as well as issues related to the assumptions, risks and uncertainties inherent in determining the nature and timing of satisfaction of performance obligations and determining the standalone selling price of performance obligations, affect the amounts of revenue, expenses, unbilled receivables and deferred revenue. Estimates are also used for, but not limited to, receivables, allowance for doubtful accounts, the determination of the period of benefit for deferred commissions, operating lease right-of-use assets and operating lease liabilities, useful lives of assets, depreciation and amortization, fair value of assets acquired and liabilities assumed for business combinations, income taxes and deferred tax asset valuation, valuation of stock options, other current liabilities and accrued liabilities. Numerous internal and external factors can affect estimates. Actual results could differ from those estimates and such differences could be material to the Company's consolidated financial position and results of operations. Cash and Cash Equivalents The Company considers all highly liquid investments with an original maturity of three months or less at the time of purchase, or the ability to be settled in cash within a period of three months, to be cash equivalents, except for commercial paper which is classified as short-term investments, if any. The Company has a cash management program that provides for the investment of excess cash balances, primarily in short-term money market instruments. Trade and Other Receivables Trade and other receivables are primarily comprised of trade receivables, net of allowance for doubtful accounts, contract assets and unbilled receivables. The Company records trade accounts receivable for its unconditional rights to consideration arising from the Company's performance under contracts with customers. The Company's standard billing terms are that payment is due upon receipt of invoice, payable generally within thirty to sixty days. The carrying value of such receivables, net of the allowance for doubtful accounts, represents their estimated net realizable value. When developing its estimate of expected credit losses on trade and other receivables, the Company considers the available information relevant to assessing the collectability of cash flows, which includes a combination of both internal and external information relating to past events, current conditions, and future forecasts as well as relevant qualitative and quantitative factors that relate to the environment in which the Company operates. Contract assets represent conditional rights to consideration that have been recognized as revenue in advance of billing the customer. Unbilled receivables represent unconditional rights to consideration arising from contingent revenue that have been recognized as revenue in advance of billing the customer. Prepaid Expenses and Other Assets Prepaid expenses and other assets consist primarily of prepaid third-party software subscription and license fees, deferred project costs and prepaid income taxes. Property and Equipment, Net Property and equipment are recorded at cost, less accumulated depreciation. Maintenance, repairs and minor replacements are charged to expense as incurred. Significant renewals and betterments are capitalized. Depreciation on property and equipment, with the exception of leasehold improvements, is recorded using the straight-line method over the estimated useful lives of the assets. Depreciation on leasehold improvements is recorded using the shorter of the lease term or useful life. When property is retired or disposed of, the cost and related accumulated depreciation are removed from the accounts and any resulting gains or losses are reflected in the Consolidated Statements of Comprehensive Income (Loss) in the period of disposal. Internal-Use Software Costs incurred to develop internal-use software during the application development stage are capitalized, stated at cost, and depreciated using the straight-line method over the estimated useful lives of the assets. Application development stage costs generally include salaries and personnel costs and third-party contractor expenses associated with internal-use software development, configuration and coding. Capitalization of such costs begins when the preliminary project stage is complete and ceases at the point in which the project is substantially complete and is ready for its intended purpose. Capitalized internal-use software is included in property and equipment, net in the Consolidated Balance Sheets. Leases The Company determines if an arrangement is a lease at inception. Operating leases are included in operating lease right-of-use ("ROU") assets, current operating lease liabilities and noncurrent operating lease liabilities in the Company's Consolidated Balance Sheet. ROU assets represent the Company’s right to use an underlying asset over the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from the lease. ROU assets and lease liabilities are recognized at the lease commencement date based on the estimated present value of lease payments over the lease term. The Company includes any anticipated lease incentives in the determination of lease liability. The Company uses its estimated incremental borrowing rate, which is derived from information available at the lease commencement date, in determining the present value of lease payments. The Company gives consideration to its recent debt issuances as well as publicly available data for instruments with similar characteristics when determining its incremental borrowing rates. The Company’s lease terms will include options to extend the lease when it is reasonably certain that the Company will exercise that option. Leases with a term of 12 months or less are not recorded on the Company's unaudited condensed consolidated balance sheet. The Company’s lease agreements do not contain any residual value guarantees. Deferred Costs Sales commissions earned by the Company's sales representatives are considered incremental and recoverable costs of obtaining a customer contract. Sales commissions are deferred and amortized on a straight-line basis over the period of benefit, which the Company has determined to be five to eight years. The Company determined the period of benefit by taking into consideration its customer contracts, expected renewals of those customer contracts (as the Company currently does not pay an incremental sales commission for renewals), the Company's technology and other factors. The Company also defers amounts earned by employees other than sales representatives who earn incentive payments under compensation plans that are also tied to the value of customer contracts acquired. Deferred Implementation Costs The Company capitalizes certain contract fulfillment costs, including personnel and other costs (such as hosting, employee salaries, benefits and payroll taxes), that are associated with arrangements where services are not distinct from other undelivered obligations in its customer contracts. The Company analyzes implementation costs and capitalizes those costs that are directly related to customer contracts that are expected to be recoverable and enhance the resources which will be used to satisfy the undelivered performance obligations in those contracts. Deferred implementation costs are amortized ratably over the remaining contract term once the revenue recognition criteria for the respective performance obligation has been met and revenue recognition commences. Deferred implementation costs are included in prepaid and other current assets and other assets, noncurrent in the Consolidated Balance Sheets. Amortization of deferred implementation costs is included in cost of subscription and cost of services revenues in the Consolidated Statements of Comprehensive Income (Loss). Deferred Revenue Deferred revenue primarily consists of customer invoicing in advance of revenues being recognized. The Company generally invoices its customers annually in advance for subscription services and maintenance and support services. Deferred revenue that is anticipated to be recognized during the next twelve-month period is recorded as current deferred revenue and the remaining portion is recorded as noncurrent deferred revenue. Impairment of Long-Lived Assets Long-lived assets are reviewed for impairment whenever an event or change in circumstances indicates that the carrying amount of an asset or group of assets may not be recoverable. The impairment review includes comparison of future cash flows expected to be generated by the asset or group of assets with the associated assets’ carrying value. If the carrying value of the asset or group of assets exceeds its expected future cash flows (undiscounted and without interest charges), an impairment loss is recognized to the extent that the carrying amount of the asset exceeds its fair value. The Company did not identify any impairment indicators and recorded no impairment charges in the year ended December 31, 2020, 2019 and 2018. Intangible Assets and Goodwill Intangible assets that have finite lives are amortized over their useful lives and are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. During this review, the Company reevaluates the significant assumptions used in determining the original cost and estimated lives of the intangible assets. Although the assumptions may vary from asset to asset, they generally include operating results, changes in the use of the asset, cash flows and other indicators of value. Management then determines whether the remaining useful life continues to be appropriate or whether there has been an impairment of the intangible assets based primarily upon whether expected future undiscounted cash flows are sufficient to support the assets’ recovery. If impairment exists, the Company would adjust the carrying value of the asset to fair value, generally determined by a discounted cash flow analysis. Goodwill represents the excess of the purchase consideration over the net of the acquisition-date fair value of identifiable assets acquired, including identifiable intangible assets, and liabilities assumed in connection with business combinations. Goodwill is not amortized but is assessed for impairment as of November 30 of each fiscal year, or more frequently if events or changes in circumstances indicate that the fair value of the Company’s sole reporting unit has been reduced below its carrying value. When conducting the annual goodwill impairment assessment, a two-step process is used. The first step is to perform an optional qualitative evaluation as to whether it is more likely than not that the fair value of the Company’s sole reporting unit is less than its carrying value, using an assessment of relevant events and circumstances. In performing this assessment, the Company is required to make assumptions and judgments including but not limited to an evaluation of macroeconomic conditions as they relate to the business, industry and market trends, as well as the overall future financial performance of the reporting unit and future opportunities in the markets in which it operates. If it is determined that it is not more likely than not that the fair value of the reporting unit is less than its carrying value, no additional tests are required to be performed in assessing goodwill for impairment. However, if the Company concludes otherwise or elects not to perform the qualitative assessment, the Company performs a second step, consisting of a quantitative assessment of goodwill impairment. This quantitative assessment requires the Company to compare the fair value of its reporting unit with its carrying value. If the carrying amount exceeds the fair value, an impairment charge will be recognized, however, loss cannot exceed the total amount of goodwill allocated to the reporting unit. Based on the results of the qualitative review of goodwill performed as of November 30, 2020, the Company did not identify any indicators of impairment. As such, the quantitative assessment described above was not necessary. Equity Investments Investments in equity securities of privately held companies without readily determinable fair value, where the Company does not exercise significant influence over the investee, are recorded at cost, less impairment and adjusted for subsequent observable price changes obtained from orderly transactions for identical or similar investments issued by the same investee. Adjustments resulting from impairment, fair value, or observable price changes are accounted for in the Consolidated Statements of Comprehensive Income (Loss). Financial Instruments The carrying amount of the Company’s financial instruments, which include cash equivalents, receivables and accounts payable, and equity investments approximates their fair values at December 31, 2020 and 2019. For additional information on the Company’s fair value measurements, see Note 10 to the Consolidated Financial Statements. Convertible Senior Notes In accounting for the issuance of the Notes, the Company separates each of the Notes into liability and equity components. The carrying amounts of the liability components are calculated by measuring the fair value of similar liabilities that do not have associated convertible features. The carrying amount of the equity components representing the conversion option are determined by deducting the fair value of the liability components from the par value of the respective Notes. These differences represent debt discounts that are amortized to interest expense over the respective terms of the Notes using the effective interest rate method. The equity components are not remeasured as long as they continue to meet the conditions for equity classification. In accounting for the issuance costs related to the Notes, the Company allocates the total amount of issuance costs incurred to the liability and equity components based on their relative values. Issuance costs attributable to the liability components are being amortized on a straight-line basis, which approximates the effective interest rate method, to interest expense over the respective terms of the Notes. The issuance costs attributable to the equity components are netted against the respective equity components in additional paid-in capital. Research and Development Research and development costs for software sold to customers are expensed as incurred. These costs include salaries and personnel costs, including employee benefits, third-party contractor expenses, software development tools, an allocation of facilities and depreciation expenses and other expenses in developing new solutions and upgrading and enhancing existing solutions. Software Development Costs Capitalization of software development costs for software to be sold, leased, or otherwise marketed begins upon the establishment of technological feasibility, which is generally the completion of a working prototype that has been certified as having no critical bugs and is a release candidate. Amortization begins once the software is ready for its intended use, generally based on the pattern in which the economic benefits will be consumed. To date, software development costs incurred between completion of a working prototype and general availability of the related product have not been material. Treasury Stock The Company is authorized to make treasury stock purchases in the open market pursuant to the share repurchase program, which was approved by its Board of Directors on August 28, 2008. The Company accounts for the purchase of treasury stock under the cost method. For additional information on the Company’s stock repurchase program, see Note 12 to the Consolidated Financial Statements. There were no treasury stock repurchases under the program for the years ended December 31, 2020, 2019 and 2018. Revenue Recognition The Company derives its revenues primarily from subscriptions, services, and associated software maintenance and support services. The Company determines revenue recognition through the following steps: • Identification of the contract, or contracts, with a customer; • Identification of the performance obligations in the customer contract(s); • Determination of the transaction price; • Allocation of the transaction price to each performance obligation in the customer contract(s); and • Recognition of revenue when, or as, the Company satisfies a performance obligation. Subscription revenue Subscription revenue primarily consists of fees that give customers access to one or more of the Company's cloud applications with related customer support. The Company primarily recognizes subscription revenue ratably over the contractual term of the arrangement beginning with commencement of service. Subscription revenue related to certain offerings, where fees are based on a number of transactions, are recognized on a usage basi s. The Company's subscription contracts do not provide customers with the right to take possession of the software supporting the service and, as a result, are accounted for as service contracts. The Company's subscription contracts are generally two to five years in length, billed annually in advance, and non-cancelable. Maintenance and support revenue Maintenance and support revenue includes customer support for on-premises licenses and the right to unspecified software updates and enhancements. The Company recognizes revenue from maintenance and support arrangements ratably over the period in which the services are provided. The Company's maintenance and support contracts are generally one year in length, billed annually in advance, and non-cancelable. Services revenue S ervices revenue primarily consists of fees for configuration services, consulting and training. The Company typically sells its services either on a fixed-fee or time-and-material basis. Services revenue is generally recognized as the services are performed for time and material contracts, or on a proportional performance basis for fixed-price contracts. The majority of the Company's Services contracts are on a fixed-fee basis. Training revenue is recognized as the services are rendered. Significant judgments are required in determining whether services that are contained in the Company's customer subscription contracts are considered distinct, including whether the services are capable of being distinct and whether they are separately identifiable. Services deemed to be distinct are accounted for as a separate performance obligation and revenue is recognized as the services are performed. If determined services are not considered distinct, the services and the subscription are determined to be a single performance obligation and revenue is recognized over the contractual term of the subscription beginning on the date that subscription services are made available to the customer. Customer contracts with multiple performance obligations A portion of the Company's customer contracts contain multiple performance obligations. Significant judgment is required in determining whether multiple performance obligations contained in a single customer contract are capable of being distinct and are separately identifiable. An obligation determined to be distinct is accounted for as a separate performance obligation and revenue for that separate performance obligation is recognized when, or as, the Company satisfies the performance obligation. If obligations are not determined to be distinct, those obligations are accounted for as a single, combined performance obligation. The transaction price is allocated to each performance obligation on a relative standalone selling price basis. Disaggregation of revenue The Company categorizes revenue from external customers by geographic area based on the location of the customer's headquarters. For additional information regarding the Company's revenue by geography, see Note 19 to the Consolidated Financial Statements. Foreign Currency The Company has contracts denominated in foreign currencies and therefore a portion of the Company’s revenue is subject to foreign currency risks. Gains and losses from foreign currency transactions, such as those resulting from the settlement of receivables, are classified in other income (expense), net included in the accompanying Consolidated Statements of Comprehensive Income (Loss). The functional currency of PROS France SAS ("PROS France") is the Euro. The financial statements of this subsidiary are translated into U.S. dollars using period-end rates of exchange for assets and liabilities, historical rates of exchange for equity, and average rates of exchange for the p eriod for revenue and expenses. Translation gains (losses) are recorded in accumulated other comprehensive income (loss) as a component of stockholders’ equity. Noncash Share-Based Compensation The Company has two noncash share-based compensation plans, the 2007 Equity Incentive Plan ("2007 Stock Plan") and the 2017 Equity Incentive Plan ("2017 Stock Plan"), which authorize the discretionary granting of various types of stock awards to key employees, officers, directors and consultants. The 2007 Stock Plan expired in March 2017. The 2017 Stock Plan serves as the successor to the 2007 Stock Plan and was adopted in May 2017. The Company may provide noncash share-based compensation through the grant of: (i) restricted stock awards; (ii) restricted stock unit awards - time, performance and market-based ("RSUs"); (iii) stock options; (iv) stock appreciation rights ("SARs"); (v) phantom stock; and (vi) performance awards, such as market stock units ("MSUs"). To date, the Company has granted stock options, SARs, RSUs, time, performance and market-based, and MSUs. The Company issues common stock from its pool of authorized stock upon exercise of stock options, settlement of SARs and MSUs or upon vesting of RSUs. The following table presents the number of awards outstanding for each award type as of December 31, 2020 and 2019 (in thousands): Year Ended December 31, Award type 2020 2019 Restricted stock units (time-based) 1,802 1,893 Restricted stock units (performance-based) 162 114 Stock appreciation rights 28 65 Market stock units 111 267 Stock options. The Company did not grant stock options during 2020 and 2019. The fair value of each stock option is estimated on the date of grant using the Black-Scholes option pricing model. Restricted stock units. The fair value of the RSUs (time-based and performance-based) is based on the closing price of the Company’s stock on the date of grant and is amortized over the vesting period. RSUs include (i) time-based awards and (ii) performance-based awards in which the number of shares that vest are based upon achievement of certain internal performance metrics set by the Company. Stock appreciation rights. SARs will be settled in stock at the time of exercise and vest over four years from the date of grant. The Company used the Black-Scholes option pricing model to estimate the fair value of its SARs. The determination of the fair value of SARs utilizing the Black-Scholes model is affected by the Company’s stock price and a number of assumptions, including expected volatility, expected life, delivery of risk-free interest rate and expected dividends. The Company estimates the expected volatility of common stock at the date of grant based on a combination of its historical volatility and the average volatility of comparable companies. The expected life of the SARs noncash share-based payment awards is a historical weighted average of the expected lives of similar securities of comparable public companies. The risk-free interest rate assumption is based on observed interest rates appropriate for the terms of the Company’s awards. The dividend yield assumption is based on the Company's expectation of paying no dividends. Market stock units. MSUs are performance-based awards that vest based upon the Company’s relative shareholder return. The actual number of MSUs that will be eligible to vest is based on the total shareholder return of the Company relative to the total shareholder return of the Russell 2000 Index ("Index") over a 3-year period ending February 28, 2020, October 9, 2020 and December 31, 2020 ("Performance Period"), respectively. The MSUs vested on March 1, 2020 and October 9, 2020, and will vest on January 10, 2021, respectively. The maximum number of shares issuable upon vesting is 200% of the MSUs initially granted based on the average price of the Company's common stock relative to the Index during the Performance Period. The Company estimates the fair value of MSUs on the date of grant using a Monte Carlo simulation model. The determination of the fair value of the MSUs is affected by the Company’s stock price and a number of assumptions including the expected volatility of the Company’s stock and the Index, its risk-free interest rate and expected dividends. The Company’s expected volatility at the date of grant was based on the historical volatilities of the Company and the Index over the Performance Period. As the Company issues stock options and SARs, it evaluates the assumptions used to value its stock option awards and SARs. If factors change and the Company employs different assumptions, noncash share-based compensation expense may differ significantly from what has been recorded in the past. If there are any modifications or cancellations of the underlying unvested securities, the Company may be required to accelerate, increase or cancel any remaining unearned noncash share-based compensation expense. Future noncash share-based compensation expense and unearned noncash share-based compensation will increase to the extent that the Company grants additional equity awards to employees. At December 31, 2020, there were an estimated $55.9 million of total unrecognized compensation costs related to noncash share-based compensation arrangements. These costs will be recognized over a weighted average period of 2.5 years. For further discussion of the Company’s noncash share-based compensation plans, see Note 14 to the Consolidated Financial Statements. Income Taxes The Company uses the asset and liability method to account for income taxes, including recognition of deferred tax assets and liabilities for the anticipated future tax consequences attributable to differences between financial statement amounts and their respective tax basis. The Company reviews its deferred tax assets for recovery. A valuation allowance is established when the Company believes that it is more likely than not that some portion of its deferred tax assets will not be realized. Changes in the valuation allowance from period to period are included in the Company’s tax provision in the period of change. The Company accounts for uncertain income tax positions recognized in an enterprise’s financial statements in accordance with the income tax topic of the ASC issued by the FASB. This interpretation requires companies to use a prescribed model for assessing the financial recognition and measurement of all tax positions taken or expected to be taken in its tax returns. This guidance provides clarification on recognition, classification, interest and penalties, accounting in interim periods, disclosures and transition. The Company recognized accrued interest and penalties related to income taxes as a component of income tax expense. For additional information regarding the Company’s income taxes, see Note 15 to the Consolidated Financial Statements. Segment Reporting The Company reports as one operating segment with the Chief Executive Officer ("CEO") acting as the Company’s chief operating decision maker. The Company’s CEO reviews financial information presented on a consolidated basis for purposes of allocating resources and evaluating financial performance. The Company has a single reporting unit, and there are no segment managers who are held accountable for operations, operating results or components below the consolidated unit level. Earnings Per Share The Company computes basic earnings (loss) per share by dividing net income (loss) attributable to common stockholders by the weighted average number of common shares outstanding. Diluted earnings (loss) per share is computed by giving effect to all dilutive potential common shares outstanding during the period using the treasury stock method and convertible notes using the if-converted method. Dilutive potential common shares consist of shares issuable upon the exercise of stock options, shares of unvested restricted stock units and market stock units, and settlement of stock appreciation rights. When the Company incurs a net loss, the effect of the Company's outstanding stock options, stock appreciation rights, restricted stock units, market stock units and convertible notes are not included in the calculation of diluted earnings (loss) per share as the effect would be anti-dilutive. Accordingly, basic and diluted net loss per share are identical. Recently Adopted Accounting Pronouncements In June 2016, the FASB issued ASU 2016-13, Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments ("Topic 326") , in order to improve financial reporting of expected credit losses on financial instruments and other commitments to extend credit. Topic 326 requires that an entity measure and recognize expected credit losses for financial assets held at amortized cost and replaces the incurred loss impairment methodology in current GAAP with a methodology that requires consideration of a broader range of information to estimate credit losses. The Company adopted Topic 326 as of January 1, 2020 using the modified retrospective method and there was no material impact on the Company's unaudited condensed consolidated financial statements as of the adoption date. As of December 31, 2020, the Company has recorded allowance for doubtful accounts related to |
Business Combination
Business Combination | 12 Months Ended |
Dec. 31, 2020 | |
Business Combinations [Abstract] | |
Business Combination Disclosure [Text Block] | Business Combination Travelaer On August 14, 2019, the Company acquired Travelaer SAS ("Travelaer"), a privately held company based near Nice, France, for a total cash consideration, net of cash acquired, of approximately $10.5 million. Travelaer is a digital innovator for the travel industry with a focus on improving the customer experience across all phases of travel, and brings an internet booking engine and New Distribution Capability platform to the Company's portfolio. The Company has included the financial results of Travelaer in the Consolidated Financial Statements from the date of the acquisition, which have not been material to date. The transaction cost associated with the acquisition was $0.5 million for the year ended December 31, 2019. The Company accounted for the transaction as a business combination and all of the assets acquired and the liabilities assumed in the transaction have been recognized at their acquisition date fair values. The Company recorded approximately $2 million for developed technology and customer relationships with estimated useful lives of seven years and five years, respectively. The Company recorded approximately $11 million of goodwill which is primarily related to the assembled workforce and expanded market opportunities from integrating Travelaer's technology with the Company's solutions. The goodwill balance is not deductible for U.S. income tax purposes. |
Trade and Other Receivables, Ne
Trade and Other Receivables, Net | 12 Months Ended |
Dec. 31, 2020 | |
Accounts Receivable and Contracts in Progress [Abstract] | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | Receivables, Net Accounts receivable at December 31, 2020 and 2019, consists of the following (in thousands): December 31, 2020 2019 Accounts receivable $ 50,257 $ 59,606 Unbilled receivables and contract assets 3,443 5,682 Total receivables 53,700 65,288 Less: Allowance for doubtful accounts (4,122) (214) Trade and other receivables, net $ 49,578 $ 65,074 |
Deferred Costs (Notes)
Deferred Costs (Notes) | 12 Months Ended |
Dec. 31, 2020 | |
Deferred Costs [Abstract] | |
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Table Text Block] | Deferred Costs Deferred costs, which primarily consist of deferred sales commissions, were $18.5 million and $21.2 million as of December 31, 2020 and December 31, 2019, respectively. Amortization expense for the deferred costs was $5.9 million, $4.8 million and $3.0 million for the year ended December 31, 2020, 2019 and 2018, respectively. There was no impairment loss in relation to the costs capitalized for the periods presented. |
Deferred Implementation costs (
Deferred Implementation costs (Notes) | 12 Months Ended |
Dec. 31, 2020 | |
Deferred Implementation Costs [Abstract] | |
Deferred Implementation Costs [Text Block] | Deferred Implementation Costs Deferred implementation costs, which related to certain customer contract fulfillment costs, were $2.9 million and $4.4 million as of December 31, 2020 and December 31, 2019, respectively. Amortization expense for the deferred implementation costs was $1.8 million, $1.4 million and $0.6 million for the year ended December 31, 2020, 2019 and 2018, respectively. Deferred implementation costs are included in prepaid and other current assets and other assets, noncurrent in the Consolidated Balance Sheets. Amortization of deferred implementation costs is included in cost of subscription and cost of services revenues in the Consolidated Statements of Comprehensive Income (Loss). There was no impairment loss in relation to the costs capitalized for the periods presented. |
Property and Equipment, net
Property and Equipment, net | 12 Months Ended |
Dec. 31, 2020 | |
Property, Plant and Equipment [Abstract] | |
Property, Plant and Equipment Disclosure [Text Block] | Property and Equipment, Net Property and equipment, net as of December 31, 2020 and 2019 consists of the following: December 31, Estimated useful life 2020 2019 Furniture and fixtures 5-10 years $ 6,248 $ 3,227 Computers and equipment 3-5 years 17,333 15,388 Software 3-6 years 7,646 7,302 Capitalized internal-use software development costs 3 years 12,217 10,194 Leasehold improvements Shorter of lease term or useful life 20,709 5,591 Construction in progress 147 794 Property and equipment, gross 64,300 42,496 Less: Accumulated depreciation and amortization (27,796) (27,702) Property and equipment, net $ 36,504 $ 14,794 Depreciation and amortization was approximately $8.0 million , $7.1 million and $5.5 million for the years ended December 31, 2020, 2019 and 2018, respectively. During the years ended December 31, 2020, 2019 and 2018, the Company disposed of approximately $8.3 million, $7.4 million and $0.5 million, respectively, of fully depreciated assets. During the year ended December 31, 2020, the Company recognized no loss on disposal of assets and during the years ended 2019 and 2018, the Company recognized immaterial amounts of loss on disposal of certain non-fully depreciated assets, respectively. As of December 31, 2020 and 2019, the Company had approximately $10.7 million a nd $12.2 million, respectively, of fully depreciated assets in use. During the years ended December 31, 2020 and 2019, the Company capitalized internal-use software development costs of approximately $1.7 million and $1.4 million, respectively, related to its subscription solutions. As of December 31, 2020 and 2019, $12.2 million and $9.6 million, respectively, of capitalized internal-use software development costs were subject to amortization and $7.3 million and $4.1 million, respectively, of capitalized internal-use software development costs were included in accumulated depreciation and amortization for the years ended December 31, 2020 and 2019. |
Leases (Notes)
Leases (Notes) | 12 Months Ended |
Dec. 31, 2020 | |
Leases [Abstract] | |
Lessee, Operating Leases [Text Block] | Leases The Company has operating leases for data centers, computer infrastructure, corporate offices and certain equipment. These leases have remaining lease terms ranging from 1 year to 13 years. Some of these leases include options to extend for up to 15 years, and some include options to terminate within 1 year. The Company includes options in the lease terms when it is reasonably certain that the Company will exercise that option. As of December 31, 2020, the Company did not have any finance leases. The components of operating lease expense were as follows (in thousands): Year Ended December 31, 2020 Year Ended December 31, 2019 Operating lease cost $ 11,632 $ 10,109 Variable lease cost 1,717 1,810 Sublease income (375) (332) Total lease cost $ 12,974 $ 11,587 Operating lease expense was $4.3 million for the year ended December 31, 2018 under Topic 840, the predecessor of Topic 842. Supplemental information related to leases was as follows (in thousands): Year Ended December 31, 2020 Year Ended December 31, 2019 Cash paid for amounts included in the measurement of lease liability: Cash paid for operating lease liabilities $ 7,562 $ 5,883 Right-of-use asset obtained in exchange for operating lease liability (1) $ 12,599 $ 34,418 (1) For the year ended December 31, 2019, the balance included $26.9 million for operating leases existing on January 1, 2019 upon adoption of ASU 842. December 31, 2020 December 31, 2019 Weighted average remaining lease term: Operating leases 8.6 years 7.1 years Weighted average discount rate: Operating leases 7.12 % 7.26 % As of December 31, 2020, maturities of lease liabilities were as follows (in thousands): Year Ending December 31, Amount 2021 $ 9,580 2022 10,374 2023 11,378 2024 5,418 2025 4,265 2026 and thereafter 31,867 Total operating lease payments 72,882 Less: Imputed interest (21,461) Less: Anticipated lease incentive (1,385) Total operating lease liabilities $ 50,036 |
Goodwill and Intangible Assets
Goodwill and Intangible Assets | 12 Months Ended |
Dec. 31, 2020 | |
Goodwill and Intangible Assets [Abstract] | |
Goodwill and Intangible Assets Disclosure [Text Block] | Goodwill and Intangible Assets The change in the carrying amount of goodwill for the years ended December 31, 2020 and 2019, was as follows (in thousands): Balance as of December 31, 2018 $ 38,231 Goodwill acquired 11,077 Foreign currency translation adjustments (204) Balance as of December 31, 2019 49,104 Foreign currency translation adjustments 940 Balance as of December 31, 2020 $ 50,044 The goodwill balance related to PROS France and Travelaer is denominated in Euro and the goodwill balance related to PROS Travel Commerce, Inc. (formerly Vayant Travel Technologies, Inc.) ("Vayant") is denominated in the U.S. dollar. Intangible assets consisted of the following as of December 31, (in thousands): December 31, 2020 Weighted average useful life (years) Gross Carrying Amount Accumulated Amortization* Net Carrying Amount Developed technology 7 $ 27,700 $ 22,077 $ 5,623 Maintenance relationships 8 3,608 3,259 349 Customer relationships 6 12,513 10,144 2,369 Acquired technology 2 1,925 1,925 — Total $ 45,746 $ 37,405 $ 8,341 *Cumulative foreign currency translation adjustments, reflecting movement in the currencies of the underlying entities, increased total intangible assets by approximately $0.1 million as of December 31, 2020. December 31, 2019 Weighted average useful life (years) Gross Carrying Amount Accumulated Amortization* Net Carrying Amount Developed technology 7 $ 26,839 $ 17,653 $ 9,186 Maintenance relationships 8 3,451 2,790 661 Customer relationships 6 12,439 8,478 3,961 Acquired technology 2 1,925 1,128 797 Total $ 44,654 $ 30,049 $ 14,605 *Cumulative foreign currency translation adjustments, reflecting movement in the currencies of the underlying entities, decreased total intangible assets by approximately $0.1 million as of December 31, 2019. Intangible asset amortization expense for the years ended December 31, 2020, 2019 and 2018 was $6.3 million , $6.8 million and $7.6 million, respectively. As of December 31, 2020, the expected future amortization expense for the acquired intangible assets for each of the five succeeding years and thereafter was as follows (in thousands): Year Ending December 31, Amount 2021 $ 3,391 2022 2,180 2023 1,547 2024 971 2025 156 2026 and thereafter 96 Total amortization expense $ 8,341 |
Fair Value Measurements
Fair Value Measurements | 12 Months Ended |
Dec. 31, 2020 | |
Fair Value Disclosures [Abstract] | |
Fair Value Disclosures [Text Block] | Fair Value Measurements The Company adopted fair value measurements guidance for financial and nonfinancial assets and liabilities. The guidance defines fair value, establishes a framework for measuring fair value in GAAP and expands disclosures about fair value measurements. The guidance defines fair value as the price that would be received to sell an asset, or paid to transfer a liability, in an orderly transaction between market participants. The guidance establishes a fair value hierarchy for valuation inputs that gives the highest priority to quoted prices in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. The fair value hierarchy is as follows: Level 1 : Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities; Level 2 : Quoted prices for similar assets or liabilities in markets that are not active or inputs which are observable, either directly or indirectly, for substantially the full term of the asset or liability; and Level 3 : Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (i.e., supported by little or no market activity). A portion of the Company’s existing cash and cash equivalents are invested in short-term interest bearing obligations with original maturities less than 90 days, principally various types of money market funds. The Company does not enter into investments for trading or speculative purposes. At December 31, 2020 and 2019, the Company had approximately $301.3 million and $273.1 million invested in treasury money market funds. The fair value of the treasury money market funds is determined based on quoted market prices, which represents level 1 in the fair value hierarchy as defined by Accounting Standard Codification ("ASC") 820, " Fair Value Measurement and Disclosure ." The fair value of the Company's Notes is classified in the level 2 hierarchy. See Note 16 for further detail regarding the Notes. As of December 31, 2020 and 2019, the Company had $2.6 million |
Deferred Revenue and Performanc
Deferred Revenue and Performance Obligation (Notes) | 12 Months Ended |
Dec. 31, 2020 | |
Deferred Revenue and Performance Obligation [Abstract] | |
Deferred revenue and performance obligation [Text Block] | Deferred Revenue and Performance Obligations Deferred Revenue For the year ended December 31, 2020 and 2019, the Company recognized approximately $120.9 million and $96.4 million, respectively, in each case of revenue that was included in the deferred revenue balances at the beginning of the respective periods and primarily related to subscription services, maintenance and support, and other services. Performance Obligations As of December 31, 2020, the Company expects to recognize approximately $389.7 million of revenue from remaining performance obligations. The Company expects to recognize revenue on approximately $178.9 million |
Stockholders Equity
Stockholders Equity | 12 Months Ended |
Dec. 31, 2020 | |
Stockholders' Equity Attributable to Parent [Abstract] | |
Stockholders' Equity Note Disclosure [Text Block] | Stockholders’ equity Equity Offering In August 2018, the Company completed a follow-on public offering of 3,800,000 shares of the Company's common stock at an offering price of $34 per share (the "Secondary Offering"). Additionally, as part of the Secondary Offering the underwriters exercised, in full, their over-allotment option to purchase an additional 570,000 shares of the Company's common stock at the offering price of $34 per share. The aggregate gross proceeds from the Secondary Offering, including the exercise of the over-allotment, were $148.6 million, and net proceeds received after underwriting fees and offering expenses were approximately $142.0 million. Stock Repurchase On August 25, 2008, the Company’s Board of Directors approved a stock repurchase program that authorized the Company to purchase up to $15.0 million of the Company’s outstanding shares of common stock. Under the board-approved repurchase program, share purchases may be made from time to time in the open market or through privately negotiated transactions depending on market conditions, share price, trading volume and other factors, and such purchases, if any, will be made in accordance with applicable insider trading and other securities laws and regulations. These repurchases may be commenced or suspended at any time or from time to time without prior notice. The Company did not repurchase any shares under this plan for the years ended December 31, 2020 and 2019. The remaining amount available to purchase common stock under this plan was $10.0 million as of December 31, 2020. |
Earnings per Share
Earnings per Share | 12 Months Ended |
Dec. 31, 2020 | |
Earnings Per Share [Abstract] | |
Earnings per Share | Earnings Per Share The following table sets forth the computation of basic and diluted earnings per share: For the Year Ended December 31, 2020 2019 2018 Numerator: Net loss $ (76,984) $ (69,081) $ (64,246) Denominator: Weighted average shares (basic) 43,301 40,232 34,465 Dilutive effect of stock options, SARs, RSUs, MSUs and convertible notes — — — Weighted average shares (diluted) 43,301 40,232 34,465 Basic earnings per share $ (1.78) $ (1.72) $ (1.86) Diluted earnings per share $ (1.78) $ (1.72) $ (1.86) Dilutive potential common shares consist of shares issuable upon the exercise of stock options, settlement of SARs, and the vesting of RSUs and MSUs. Potential common shares determined to be antidilutive and excluded from diluted weighted average shares outstanding were approximately 1.4 million , 2.1 million and 2.1 million for the years ended December 31, 2020, 2019 and 2018, respectively. Potential common shares related to the Notes determined to be antidilutive and excluded from diluted weighted average shares outstanding w ere 5.8 million |
Noncash Share-based Compensatio
Noncash Share-based Compensation | 12 Months Ended |
Dec. 31, 2020 | |
Noncash Share-based Compensation [Abstract] | |
Noncash Share-based Compensation | Noncash Share-Based Compensation Employee Noncash Share-based Compensation Plans The Company has two noncash share-based compensation plans, the 2007 Stock Plan and the 2017 Stock Plan (collectively the "Stock Plans"). These plans authorize the discretionary granting of various types of stock awards to key employees, officers, directors and consultants. The discretionary issuance of stock awards generally contains vesting provisions ranging from one to four years. 2007 Stock Plan. The Company’s 2007 Stock Plan expired in March 2017 for purposes of granting future equity awards. As of December 31, 2020, the Company had outstanding equity awards to acquire 175,733 shares of its common stock held by the Company’s employees, directors and consultants under the 2007 Stock Plan (assuming MSU performance at 100% of the MSUs initially granted), and inclusive of zero stock options, 147,733 RSUs, 28,000 SARs and zero MSUs. 2017 Stock Plan. The Company’s 2017 Stock Plan provides for the issuance of awards to employees, officers, directors and certain other individuals providing services to the Company are eligible to receive awards. The 2017 Stock Plan reserved an aggregate amount of 4,550,000 shares for issuance. The Company may provide these incentives through the grant of: (i) restricted stock awards; (ii) RSUs (time, performance and market-based); (iii) stock options; (iv) SARs; (v) phantom stock; and (vi) performance awards, such as MSUs. As of December 31, 2020, the Company had outstanding equity awards to acquire 1,927,109 shares of its common stock held by the Company’s employees, directors and consultants under the 2017 Stock Plan (assuming MSU performance at 100% of the MSUs initially granted), and inclusive of 1,816,383 RSUs and 110,726 MSUs. As of December 31, 2020, 1,745,900 shares remain available for grant under the 2017 Stock Plan. As of December 31, 2020, there were no options, SARs, restricted stock awards or phantom stock issued under the 2017 Stock Plan. Noncash share-based compensation expense for all noncash share-based payment awards granted is determined based on the grant date fair value of the award. The Company recognizes compensation expense, net of estimated forfeitures, which represents noncash share-based awards expected to vest on a straight-line basis over the requisite service period of the award, which is generally the vesting term. Noncash share-based awards typically vest over four years. Stock options are generally granted for a ten-year term. The Company estimates forfeiture rates based on its historical experience for grant years where the majority of the vesting terms have been satisfied. Changes in estimated forfeiture rates are recognized through a cumulative catch-up adjustment in the period of change and thus impact the amount of noncash share-based compensation expense to be recognized in future periods. Noncash share-based compensation expense is allocated to expense categories on the Consolidated Statements of Comprehensive Income (Loss). The following table summarizes noncash share-based compensation expense, net of amounts capitalized, for the years ended December 31, 2020, 2019 and 2018 (in thousands). For the Year Ended December 31, 2020 2019 2018 Share-based compensation: Cost of revenue $ 2,132 $ 2,025 $ 1,721 Operating expenses: Selling and marketing 6,536 5,995 4,396 General and administrative 9,670 11,451 10,717 Research and development 6,061 5,209 4,619 Total included in operating expenses 22,267 22,655 19,732 Total share-based compensation expense $ 24,399 $ 24,680 $ 21,453 At December 31, 2020, there was an estimated $55.9 million of total unrecognized compensation costs related to noncash share-based compensation arrangements. These costs will be recognized over a weighted average period of 2.5 years. Stock Options For the years ended December 31, 2020 and 2019, respectively, the Company did not grant any stock options and had no stock options outstanding. The total intrinsic value of stock options exercised for the years ended December 31, 2020, 2019 and 2018 was zero, zero and $2.5 million, respectively. RSUs (time-based) The Company has granted time-based RSUs under the Stock Plans. Time-based RSUs granted to employees, directors and consultants vest in equal annual installments over a one to four-year period from the grant date. The following table summarizes the Company's unvested time-based RSUs as of December 31, 2020, and changes during the year then ended (number of shares and intrinsic value in thousands): Number of Weighted Weighted Aggregate Unvested at December 31, 2019 1,893 $ 27.83 Granted 976 52.62 Vested (814) 23.88 Forfeited (253) 39.25 Unvested at December 31, 2020 1,802 $ 41.44 2.03 $ 91,476 Expected to vest at December 31, 2020 1,653 $ 40.80 2.00 $ 83,909 (1) The aggregate intrinsic value was calculated based on the fair value of the Company’s common stock on December 31, 2020 of $50.77. The weighted average grant-date fair value of the time-based RSUs granted during the years ended December 31, 2020, 2019 and 2018 was $52.62, $35.38 and $27.61, respectively. RSUs (performance-based) During 2020 and 2019, the Company granted performance-based RSUs ("PRSUs") under the 2017 Stock Plan to certain executive employees. These PRSUs vest on January 13, 2023 and January 15, 2022 respectively, and the actual number of PRSUs that will be eligible to vest is based upon achievement of certain internal performance metrics, as defined by each award's plan documents or individual award agreements. The maximum number of shares issuable upon vesting is 200% of the PRSUs initially granted. The following table summarizes the Company's unvested PRSUs as of December 31, 2020, and changes during the year then ended (number of shares and intrinsic value in thousands): Number of Weighted Weighted Aggregate Unvested at December 31, 2019 114 $ 33.05 Granted 76 54.23 Vested — — Forfeited (28) 39.46 Unvested at December 31, 2020 162 $ 41.89 1.46 $ 8,243 Expected to vest at December 31, 2020 74 $ 33.05 1.04 $ 3,744 (1) The aggregate intrinsic value was calculated based on the fair value of the Company’s common stock on December 31, 2020 of $50.77. SARs The Company has granted SARs under the 2007 Stock Plan. These SARs will be settled in stock at the time of exercise and vest four years from the date of grant subject to the recipient’s continued employment with the Company. The number of shares issued upon the exercise of the SARs is calculated as the difference between the share price of the Company’s stock on the date of exercise and the date of grant multiplied by the number of SARs divided by the share price on the exercise date. The Company did not grant SARs in 2020, 2019 and 2018. The following table summarizes the Company's SARs activity for the year ended December 31, 2020 (number of shares and intrinsic value in thousands): Stock Weighted Weighted Aggregate Outstanding, December 31, 2019 65 $ 10.38 Granted — — Exercised (37) 9.59 Forfeited — — Expired — — Outstanding, December 31, 2020 28 $ 11.42 0.16 $ 1,102 Exercisable at December 31, 2020 28 $ 11.42 0.16 $ 1,102 Vested and expected to vest at December 31, 2020 28 $ 11.42 0.16 $ 1,102 (1) The aggregate intrinsic value was calculated based on the positive difference between the estimated fair value of the Company’s common stock on December 31, 2020 of $50.77 and the exercise price of the underlying SARs. MSUs I n 2018 and 2017, the Company granted MSUs to certain executive employees under the Stock Plans. The MSUs are performance-based awards that vest based upon the Company’s relative shareholder return. The actual number of MSUs that will be eligible to vest is based on the total shareholder return of the Company relative to the total shareholder return of the Index over the 3-year Performance Period. The MSUs vested on March 1, 2020 and October 9, 2020 and will vest on January 10, 2021, respectively. The MSUs maximum number of shares issuable upon vesting is 200% of the MSUs initially granted. The Company did not grant any MSUs in 2020 and 2019. The following table summarizes the Company's MSUs activity for the year ended December 31, 2020 (number of shares and intrinsic value in thousands): Number of Weighted Weighted Aggregate Unvested at December 31, 2019 267 $ 32.54 Granted — — Vested (150) 28.03 Forfeited (6) 38.18 Expired — — Unvested at December 31, 2020 111 $ 38.18 0.03 $ 5,622 (1) The aggregate intrinsic value was calculated based on the positive difference between the estimated fair value of the Company’s common stock on December 31, 2020 of $50.77 and the grant date fair value of the underlying MSUs. The Company estimates the fair value of MSUs on the date of grant using a Monte Carlo simulation model. The determination of the fair value of the MSUs is affected by the Company's stock price and a number of assumptions including the expected volatilities of the Company's stock and the Index, its risk-free interest rate and expected dividends. The Company's expected volatility at the date of grant was based on the historical volatilities of the Company and the Index over the Performance Period. The Company did not estimate a forfeiture rate for the MSUs due to the limited size, the vesting period and nature of the grantee population and the lack of history of granting this type of award. Significant assumptions used in the Monte Carlo simulation model for MSUs granted during the year ended December 31, 2018 are as follows: For the Year Ended December 31, 2018 Volatility 43.67% Risk-free interest rate 2.12% Expected option life in years 2.97 Dividend yield — Employee Stock Purchase Plan The Company's Employee Stock Purchase Plan ("ESPP") provides for eligible employees to purchase shares on an after-tax basis in an amount between 1% and 10% of their annual pay: (i) on June 30 of each year at a 15% discount of the fair market value of the Company's common stock on January 1 or June 30, whichever is lower, and (ii) on December 31 of each year at a 15% discount of the fair market value of the Company's common stock on July 1 or December 31, whichever is lower. An employee may not purchase more than $5,000 in either of the six-month measurement periods described above or more than $10,000 annually. During the year ended December 31, 2020, the Company issued 65,457 shares under the ESPP. As of December 31, 2020, 74,794 shares remain authorized and available for issuance under the ESPP. As of December 31, 2020, the Company held approximately $1.6 million on behalf of employees for future purchases under the ESPP and this amount was recorded in accrued liabilities in the Company's Consolidated Balance Sheet. |
Income Tax Disclosure
Income Tax Disclosure | 12 Months Ended |
Dec. 31, 2020 | |
Income Tax Disclosure [Abstract] | |
Income Tax Disclosure [Text Block] | Income Taxes The income tax provision consisted of the following for the years ended December 31, 2020, 2019 and 2018 (in thousands): Year Ended December 31, 2020 2019 2018 Current: Federal $ — $ — $ (252) State and Foreign 676 624 663 676 624 411 Deferred: Federal — — (211) State — — — Income tax provision $ 676 $ 624 $ 200 The differences between the effective tax rates reflected in the total provision for income taxes and the U.S. federal statutory rate of 21% for the years ended December 31, 2020, 2019 and 2018, respectively, were as follows (in thousands): Year Ended December 31, 2020 2019 2018 Provision at the U.S. federal statutory rate $ (16,035) $ (14,491) $ (13,464) Increase (decrease) resulting from: State income taxes, net of federal taxes — 17 46 Nondeductible expenses 482 468 414 Statutory to GAAP income adjustment 109 (640) (221) Noncash share-based compensation (3,268) (570) (394) Other 460 (368) (153) Incremental benefits for tax credits (2,391) (990) (1,656) Change in tax rate/income subject to lower tax rates (2,385) 788 (1,824) Change related to prior tax years (553) 4,006 (4,800) Change related to US tax reform — — 1,835 Change in valuation allowance 24,257 12,404 20,417 Income tax provision $ 676 $ 624 $ 200 The Company’s effective tax rate was (0.9)% , (0.9)% and (0.3)% for the years ended December 31, 2020, 2019 and 2018, respectively. During the year ended December 31, 2020, the Company's effective tax rate was impacted primarily by changes in valuation allowance, partially offset by changes in tax rates and benefits of noncash shared based compensation. The Company reviewed its offshore earnings and profits as of December 31, 2020, has no additional earnings to repatriate, and has provided for no repatriation tax. Based on the current accumulated loss in the foreign jurisdictions, the Company has no global intangible low-taxed income (“GILTI”) to report for December 31, 2020. The Company is under the revenue requirements to be subject to the base erosion and avoidance tax (“BEAT”), however, it has reviewed the transactions with foreign affiliates and does not believe there are payments that qualify under BEAT. The Tax Cuts and Jobs Act of 2017 ("TCJA") created the foreign derived intangible income (“FDII”) which allows for a deduction for certain types of foreign income. However, since the Company is in a current net operating loss position, no deduction for FDII is allowable for the current year. The tax effects of temporary differences and other tax attributes that give rise to significant portions of the deferred tax assets and liabilities as of December 31, 2020 and 2019 are as follows (in thousands): Year Ended December 31, 2020 2019 Noncurrent deferred taxes: Property and equipment $ (104) $ (158) Noncash share-based compensation 2,878 2,534 Disallowed interest expense 8,174 5,871 Capitalized software (2,097) (1,905) Amortization (1,831) (2,971) Operating lease right-of-use assets (5,645) (4,431) Operating lease liabilities 9,833 5,068 R&E tax credit carryforwards 12,620 11,594 Deferred revenue 2,441 2,264 Federal Net Operating Losses ("NOLs") 81,745 69,673 State NOLs 2,697 2,254 State Credits 3,987 2,005 Foreign NOLs 14,090 11,808 Foreign tax credit carryforward 2,168 2,168 Other (93) 821 Total noncurrent deferred tax assets 130,863 106,595 Less: Valuation allowance (130,733) (106,476) Total net deferred tax asset $ 130 $ 119 The net deferred tax asset is classified as other assets, noncurrent in the accompanying Consolidated Balance Sheets. As of December 31, 2014, the Company determined it was more likely than not that it would be unable to fully utilize the majority of its U.S. and state deferred tax assets. As a result, the Company had recorded a valuation allowance against those assets to the extent that they cannot be realized through net operating loss carrybacks to prior years. This valuation allowance is evaluated periodically and will be reversed partially or in whole if business results and the economic environment have sufficiently improved to support realization of some or all of the Company's deferred tax assets. In performing the analysis throughout 2020, the Company determined that there was no sufficient positive evidence to outweigh the current and historic negative evidence to determine that it was more likely than not that the deferred assets would not be realized. Therefore, the Company continues to have a valuation allowance against net deferred tax assets as of December 31, 2020 and 2019. The Company has federal and state net operating loss carryforwards related to current and prior year operations and acquisitions. Internal Revenue Code Section 382 ("Section 382") places certain limitations on the annual amount of U.S. net operating loss carryforwards that can be utilized when a change of ownership occurs. The Company believes the past acquisitions were changes in ownership pursuant to Section 382, subjecting federal acquired net operating losses to limitations. According to French tax law, the net operating loss carryforwards are not subject to ownership change limitations. The U.S. federal net operating losses and R&E tax credit carryforward amount available to be used in future periods, taking into account the Section 382 annual limitation and current year losses, is approximately $389.5 million and $16.6 million, respectively. The Company’s net operating losses will begin to expire in 2024, R&E credits will begin to expire in 2031, and foreign tax credits will begin to expire in 2022. The U .S. net operating losses generated after January 1, 2018 have no expiration. Also included in foreign net operating losses are $50.3 million of French carryforwards which have no expiration. Undistributed earnings of the Company’s foreign subsidiaries are considered permanently reinvested and, accordingly, no provision for U.S. federal or state income taxes or non-U.S. withholding taxes has been provided thereon. The cumulative amount of positive undistributed earnings of the Company’s non-U.S. subsidiaries, if any, was minimal for the years ended December 31, 2020 and 2019. The Company is presently investing in international operations located in Europe, North America, the United Arab Emirates, and Australia. The Company is funding the working capital needs of its foreign operations through its U.S. operations. In the future, the Company plans to utilize its foreign undistributed earnings, as well as continued funding from its U.S. operations, to support its continued foreign investment. For the years ended December 31, 2020 and 2019, the Company had approximately zero unrecognized tax benefits, and $0.2 million of net unrecognized tax benefits in 2018 which, if recognized, would impact the Company's effective tax rate. The Company recorded immaterial amounts for interest and penalties to tax expense as of December 31, 2020, 2019 and 2018, respectively. During 2019, the Company determined that the statute of limitations concluded for positions and removed these positions from the uncertain tax positions. The Company believes the remaining position will be removed from the schedule during the next twelve months as the statute expires on that position. The Company continually monitors tax positions and will evaluate if any new positions need to be added during the next twelve months. The Company is currently under an income tax audit in Germany for the calendar tax years 2014-2016. No material taxes are expected to arise from the audit. The Company files tax returns in the U.S. and various foreign jurisdictions. The Company may be subject to U.S. federal income tax examination for the calendar tax years 2019, 2018, 2017, 2016, 2015 and 2014 and state and foreign income tax examination for various years depending on the statutes of limitation of those jurisdictions. The following table sets forth the changes to the Company's unrecognized tax benefit for the year ended December 31, 2020, 2019 and 2018 (in thousands): Year Ended December 31, 2020 2019 2018 Beginning balance $ 14 $ 183 $ 183 Changes based on tax positions related to prior year — — — Changes due to settlement — (169) — Ending balance $ 14 $ 14 $ 183 The table above has been updated to reflect gross tax liability, exclusive of interest and penalties and other offsetting amounts. |
Convertible debt (Notes)
Convertible debt (Notes) | 12 Months Ended |
Dec. 31, 2020 | |
Debt Instrument [Line Items] | |
Long-term Debt [Text Block] | Convertible Senior Notes The Company issued $143.8 million principal amount of the 2019 Notes in December 2014, $106.3 million principal amount of the 2047 Notes in June 2017, $143.8 million principal amount of the 2024 Notes in May 2019 and $150.0 million principal amount of the 2027 Notes in September 2020. As of December 31, 2020 and 2019, there was no principal amount of either the 2019 Notes or the 2047 Notes outstanding. The interest rate for the 2024 Notes is fixed at 1% per annum and the effective interest rate related to the amortization of the liability component is 6.6%, interest is payable semi-annually in arrears on May 15 and November 15 of each year, commencing on November 15, 2019. The interest rate for the 2027 Notes is fixed at 2.25% per year and the effective interest rate related to the amortization of the liability component is 8.5%, interest is payable semiannually in arrears in cash on March 15 and September 15 of each year, beginning on March 15, 2021. The 2024 Notes mature on May 15, 2024 and the 2027 Notes mature on September 15, 2027, unless redeemed or converted in accordance with their terms prior to such date. Each $1,000 of principal of the 2019 Notes were initially convertible into 29.5972 shares of the Company’s common stock, which is equivalent to an initial conversion price of approximately $33.79 per share. Each $1,000 of principal of the 2024 Notes will initially be convertible into 15.1394 shares of the Company’s common stock, which is equivalent to an initial conversion price of approximately $66.05 per share. Each $1,000 of principal of the 2027 Notes will initially be convertible into 23.9137 shares of the Company’s common stock, which is equivalent to an initial conversion price of approximately $41.82 per share. Each $1,000 of principal amount at maturity of the 2047 Notes had an issue price of $880 and were initially convertible into 20.5624 shares of the Company’s common stock, which is equivalent to an initial conversion price of approximately $48.63 per share. The initial conversion price for each of the Notes is subject to adjustment upon the occurrence of certain specified events. The Notes are each general unsecured obligations and rank senior in right of payment to all of the Company's indebtedness that is expressly subordinated in right of payment to the Notes, rank equally in right of payment with all of the Company's existing and future liabilities that are not so subordinated, are effectively junior to any of the Company's secured indebtedness to the extent of the value of the assets securing such indebtedness and are structurally subordinated to all indebtedness and other liabilities of the Company's subsidiaries (including trade payables but excluding intercompany obligations owed to the Company or its subsidiaries). On or after February 15, 2024 and June 15, 2027, respectively, to the close of business on the second scheduled trading day immediately preceding the maturity date, holders may convert all or any portion of their 2024 and 2027 Notes, respectively, regardless of the contingent conversion conditions described herein. Upon conversion, the Company will pay or deliver cash, shares of its common stock or a combination of cash and shares of its common stock, at its election, as described in the indenture governing the 2024 and 2027 Notes. Holders may convert their 2024 and 2027 Notes at their option at any time prior to the close of business on the business day immediately preceding February 15, 2024 and June 15, 2027, respectively, only under the following circumstances: • during the five consecutive business day period immediately following any five consecutive trading day period (the "Measurement Period") in which the trading price per 2024 and 2027 Note, respectively, for each day of that Measurement Period was less than 98% of the product of the last reported sale price of the Company's common stock and the conversion rate on each such day; • during any calendar quarter commencing after the calendar quarter ending on June 30, 2019 and December 31, 2020, respectively, if the last reported sale price of the common stock for 20 or more trading days (whether or not consecutive) in a period of 30 consecutive trading days ending on the last trading day of the immediately preceding calendar quarter is greater than or equal to 130% of the conversion price on each applicable trading day; or • upon the occurrence of specified corporate events. If a fundamental change (as defined in the relevant indenture governing the applicable series of Notes) occurs prior to the maturity date, holders of each of the Notes may require the Company to repurchase all or a portion of their notes for cash at a repurchase price equal to 100% of the principal amount at maturity of the Notes, plus any accrued and unpaid interest to, but excluding, the repurchase date. In accordance with accounting guidance on embedded conversion features, the Company valued and bifurcated the conversion options associated with each of the Notes from the respective host debt instrument, which is referred to as debt discount, and recorded the conversion option of each of the Notes in stockholders’ equity. The equity component for each Note is not remeasured as long as such Note continues to meet the conditions for equity classification. In accounting for the transaction costs for each of the Notes issuances, the Company allocated the costs incurred to the liability and equity components in proportion to the allocation of the proceeds from issuance to the liability and equity components. Issuance costs attributable to the liability component, totaling $3.4 million for the 2024 Notes and $2.8 million for the 2027 Notes, are being amortized to expense over the expected life of each Note using the effective interest method. Issuance costs attributable to the equity component related to the conversion option, totaling $1.1 million for the 2024 Notes and $1.3 million for the 2027 Notes, were netted with the equity component in stockholders' equity. In May 2019, in accordance with the Exchange Transactions, the Company used a portion of the net proceeds of the offering of the 2024 Notes to exchange and retire approximately $122.1 million in aggregate principal of the 2019 Notes for an aggregate cash consideration of $76.0 million and approximately 2.2 million shares of the Company's common stock. The Company recorded a $2.3 million loss on debt extinguishment related to the Exchange Transactions. The loss on extinguishment is included in the other (expense) income, net in the Consolidated Statements of Comprehensive Income (Loss). In the fourth quarter of 2019, at maturity, the Company settled the remaining principal of the 2019 Notes in cash and distributed approximately 0.3 million shares of its common stock to the notes holders, which represented the conversion value in excess of the principal amount. In August 2019, the Company issued a notice of redemption to the holders of its outstanding 2047 Notes and during the third and fourth quarter of 2019, the Company converted the entire aggregate principal of $106.3 million of the 2047 Notes and delivered approximately 2.3 million shares of its common stock upon conversion. The Company recorded a $3.4 million loss on debt extinguishment related to the Redemption. The loss on extinguishment is included in the other (expense) income, net in the Consolidated Statements of Comprehensive Income (Loss). As of December 31, 2020, the 2024 and 2027 Notes are not yet convertible, and their remaining life is approximately 40 months and 80 months, respectively. As of December 31, 2020 and December 31, 2019, the fair value of the principal amount of the Notes was $363.8 million and $163.2 million, respectively. The estimated fair value was determined based on inputs that are observable in the market or that could be derived from, or corroborated with, observable market data, including the Company's stock price and interest rates, which represents level 2 in the fair value hierarchy. The Notes consist of the following (in thousands): December 31, 2020 December 31, 2019 Liability component: Principal $ 293,750 $ 143,750 Less: debt discount, net of amortization (75,722) (33,046) Net carrying amount $ 218,028 $ 110,704 Equity component (1) $ 80,098 $ 32,883 (1) Recorded within additional paid-in capital in the Consolidated Balance Sheet. As of December 31, 2020, it included $32.9 million and $47.2 million related to the 2024 and 2027 Notes, respectively, net of $1.1 million and $1.3 million issuance cost in equity, respectively. As of December 31, 2019, it included $32.9 million related to the 2024 Notes, net of $1.1 million issuance cost in equity. The following table sets forth total interest expense recognized related to the Notes (in thousands): Year Ended December 31, 2020 2019 2018 Coupon $ 2,422 $ 3,691 $ 5,000 Amortization of debt issuance costs 733 1,157 1,419 Amortization of debt discount 7,970 9,917 10,567 Total $ 11,125 $ 14,765 $ 16,986 Note Hedge and Warrant Transactions Concurrently with the offering of the 2019 Notes, the Company entered into separate convertible note hedge (the "Note Hedges") and warrant (the "Warrants") transactions. Taken together, the purchase of the Note Hedges and the sale of the Warrants were intended to offset any actual dilution from the conversion of the 2019 Notes and to effectively increase the overall conversion price of the 2019 Notes from $33.79 to $45.48 per share. The total cost of the Note Hedges was $29.4 million. The Company received $17.1 million in cash proceeds from the sale of the Warrants. The Warrants were not part of the 2019 Notes or Note Hedges. Both the Note Hedges and Warrants have been accounted for as part of additional paid-in capital. In May 2019, in connection with the Exchange Transactions, the Company entered into certain note hedge termination agreements (the “Note Hedge Termination Agreements”) and warrant termination agreements (the “Warrant Termination Agreements”). The Note Hedge Termination Agreements terminated certain of the Note Hedges, and the Warrant Termination Agreements terminated certain of the Warrants. The Company received cash proceeds of $64.8 million related to the Note Hedge Termination Agreements, and paid $45.2 million related to the Warrant Termination Agreements. During the fourth quarter 2019, the Company received approximately 0.3 million shares of its common stock from the exercise of the remaining Note Hedges related to the 2019 Notes. These shares were recorded as treasury stock, at cost. The remaining warrants expired in August 2020. Capped Call Transactions In May 2019 and in September 2020, in connection with the offering of the 2024 and 2027 Notes, respectively, the Company entered into privately negotiated capped call transactions (collectively, the "Capped Call") with certain option counterparties. The Capped Call transactions cover, subject to customary anti-dilution adjustments, the number of shares of the Company’s common stock initially underlying the Notes, at a strike price that corresponds to the initial conversion price of the Notes, also subject to adjustment, and are exercisable upon conversion of the Notes. The Capped Call transactions are intended to reduce potential dilution to the Company’s common stock and/or offset any cash payments the Company will be required to make in excess of the principal amounts upon any conversion of Notes, and to effectively increase the overall conversion price of the 2024 Notes from $66.05 to $101.62 per share and for the 2027 Notes from $41.82 to $78.90 per share. As the Capped |
Credit Facility
Credit Facility | 12 Months Ended |
Dec. 31, 2020 | |
Credit Facility Disclosure [Abstract] | |
Debt Disclosure [Text Block] | Credit Facility In July 2012, the Company, through its wholly owned subsidiary PROS, Inc., entered into a secured Revolver with a bank lender with a borrowing capacity of up to $50 million, with interest paid at the end of the applicable one month, three month or six month interest period at a rate per annum equal to LIBOR plus an applicable margin of 1.5% to 2.25% or the Federal Funds Rate plus an applicable margin of 1.5% to 2.25%. As of December 31, 2020, the Company had no outstanding borrowings under the Revolver, which expires in July 2022. Borrowings under the Revolver are collateralized by a first priority interest in and lien on all of the Company's material assets . The Revolver contains affirmative and negative covenants, including covenants which restrict the ability of the Company to, among other things, create liens, incur additional indebtedness and engage in certain other transactions, in each case subject to certain exclusions. In addition, the Revolver contains certain financial covenants which become effective in the event the Company's liquidity falls below $50 million or upon the occurrence of an event of default. As of December 31, 2020, the Company was in compliance with all financial covenants in the Revolver. As of both December 31, 2020 and 2019, $0.1 million |
Commitments and Contingencies
Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2020 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | Commitments and Contingencies Litigation The Company is involved in various legal proceedings, claims and litigation which arise in the ordinary course of the business. The Company makes a provision for a liability relating to legal matters when it is both probable that a liability has been incurred and the amount of the loss can be reasonably estimated. These provisions are reviewed at least quarterly and adjusted to reflect the impacts of negotiations, settlements, rulings, advice of legal counsel and other information and events pertaining to a particular matter. The Company is not currently involved in any outstanding litigation that it believes, individually or in the aggregate, will have a material adverse effect on its business, financial condition, results of operations or cash flows. Purchase Commitments In the ordinary course of business, the Company enters into various purchase commitments for goods and services. In March 2019, the Company entered into a noncancelable agreement with a computing infrastructure vendor that amended the existing agreement dated June 2017. The amended agreement has purchase commitments of $37.6 million remaining as of December 31, 2020, and expires in March 2022. Contractual Obligations In September 2018, the Company entered into an agreement of limited partnership related to a venture fund, pursuant to which the Company committed to make a capital contribution within the next five years. As of December 31, 2020, there was $1.6 million remaining under the commitment. Indemnification The Company’s software agreements generally include certain provisions for indemnifying customers against liabilities if the Company’s software solutions infringe a third party’s intellectual property rights. To date, the Company has not incurred any losses as a result of such indemnifications and has not accrued any liabilities related to such obligations in the Company’s Consolidated Financial Statements. |
Segment and Geographical Inform
Segment and Geographical Information | 12 Months Ended |
Dec. 31, 2020 | |
Revenues from External Customers and Long-Lived Assets [Line Items] | |
Segment Reporting Disclosure [Text Block] | Segment and Geographic Information The Company operates as one segment with a single reporting unit. Operating segments are the components of an enterprise where separate financial information is evaluated regularly by the chief operating decision-maker, who is the Company's Chief Executive Officer, in deciding how to allocate resources and assessing financial performance. The Company's chief operating decision maker allocates resources and assesses performance based upon discrete financial information at the consolidated level. Revenue by Geography The Company presents financial information on a consolidated basis and does not assess the profitability of its geographic regions. Accordingly, the Company does not attempt to comprehensively assign or allocate costs to these regions and does not produce reports for, or measure the performance of, its geographic regions based on any asset-based metrics. International revenue for the years ended December 31, 2020, 2019 and 2018, amounted to approximately $170.1 million, $164.4 million and $128.5 million, respectively, representing 67%, 66% and 65%, respectively, of annual revenue. The following geographic information is presented for the yea rs ended December 31, 2020, 2019 and 2018. The Company categorizes geographic revenues based on the location of the customer’s headquarters. Year Ended December 31, 2020 2019 2018 Revenue Percent Revenue Percent Revenue Percent The Americas: United States of America $ 82,299 32 % $ 85,963 34 % $ 68,482 35 % Other 25,123 10 % 29,129 12 % 18,378 9 % Subtotal 107,422 42 % 115,092 46 % 86,860 44 % Germany 21,587 9 % 18,526 7 % 20,171 10 % The Rest of Europe 53,349 21 % 55,388 22 % 40,776 21 % Asia Pacific 47,416 19 % 43,908 18 % 32,090 16 % The Middle East 21,825 9 % 16,170 6 % 15,092 8 % Africa 825 — % 1,250 — % 2,035 1 % Total revenue $ 252,424 100 % $ 250,334 100 % $ 197,024 100 % |
Concentrations of Risk
Concentrations of Risk | 12 Months Ended |
Dec. 31, 2020 | |
Risks and Uncertainties [Abstract] | |
Concentration Risk Disclosure [Text Block] | Concentrations of Credit RiskThe Company’s financial instruments that are exposed to concentrations of credit risk consist primarily of cash and cash equivalents, marketable securities and trade accounts receivable. The Company's deposits exceed federally insured limits. For the year ended December 31, 2020, no customer accounted for 10% or more of trade accounts receivables. For the years ended December 31, 2020, 2019 and 2018, no single customer accounted for 10% or more of revenue. |
Related Party Transaction
Related Party Transaction | 12 Months Ended |
Dec. 31, 2020 | |
Related Party Transactions [Abstract] | |
Related Party Transactions Disclosure [Text Block] | Related-Party TransactionsThe Company currently has employment agreements with its executive officers. In the event of termination of employment other than for cause, the employment agreements provide separation benefits, including twelve to eighteen months of salary, as well as the vesting of certain equity awards. |
Employment Retirement Savings
Employment Retirement Savings | 12 Months Ended |
Dec. 31, 2020 | |
Retirement Benefits [Abstract] | |
Defined Benefit Plan Disclosure [Line Items] | Employee Retirement Savings Plan The Company has a 401(k) savings plan for all eligible employees in the United States. Historically, the Company’s matching contribution has been 50% of the first 6% of employee contributions, and the Company may also make discretionary contributions. As of January 1, 2020, the Company changed the matching contributions to be 50% of the first 8% of employee contributions, and the Company may also make discretionary contributions. Matching contributions by the Company in 2020, 2019 and 2018 totaled approximately $4.3 million , $2.5 million and $2.4 million, respectively. |
Quarterly Results
Quarterly Results | 12 Months Ended |
Dec. 31, 2020 | |
Quarterly Financial Information Disclosure [Abstract] | |
Quarterly Financial Information [Text Block] | Quarterly Results (Unaudited) The following table presents certain unaudited quarterly financial data for the years ended December 31, 2020 and 2019. This information has been prepared on the same basis as the accompanying Consolidated Financial Statements and all necessary adjustments have been included in the amounts below to state fairly the selected quarterly information when read in conjunction with the accompanying Consolidated Financial Statements and Notes thereto. Quarter Ended December 31, September 30, June 30, March 31, Total revenue $ 60,858 $ 61,508 $ 63,747 $ 66,311 Gross profit $ 35,539 $ 36,871 $ 37,797 $ 37,584 Loss from operations $ (13,426) $ (16,163) $ (15,139) $ (21,352) Net loss attributable to PROS Holdings, Inc. $ (18,184) $ (18,857) $ (17,208) $ (22,735) Net loss attributable to common stockholders per share: Basic $ (0.42) $ (0.44) $ (0.40) $ (0.53) Diluted $ (0.42) $ (0.44) $ (0.40) $ (0.53) Quarter Ended December 31, September 30, June 30, March 31, Total revenue $ 66,175 $ 64,150 $ 63,878 $ 56,131 Gross profit $ 37,814 $ 37,767 $ 40,295 $ 35,341 Loss from operations $ (15,071) $ (12,512) $ (12,145) $ (13,610) Net loss attributable to PROS Holdings, Inc. $ (17,300) $ (17,347) $ (17,517) $ (16,917) Net loss attributable to common stockholders per share: Basic $ (0.41) $ (0.42) $ (0.44) $ (0.45) Diluted $ (0.41) $ (0.42) $ (0.44) $ (0.45) |
Schedule II - Valuation and Qua
Schedule II - Valuation and Qualifying Accounts | 12 Months Ended |
Dec. 31, 2020 | |
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract] | |
SEC Schedule, 12-09, Schedule of Valuation and Qualifying Accounts Disclosure [Text Block] | Schedule II Valuation and Qualifying Accounts Balance at Additions Deductions (1) Other (2) Balance at Allowance for doubtful accounts 2020 $ 214 $ 5,870 $ (1,962) $ — $ 4,122 2019 $ 978 $ — $ (760) $ (4) $ 214 2018 $ 760 $ 223 $ — $ (5) $ 978 Valuation allowance 2020 $ 106,476 $ 24,375 $ — $ (118) $ 130,733 2019 $ 94,231 $ 12,404 $ — $ (159) $ 106,476 2018 $ 74,153 $ 20,417 $ — $ (339) $ 94,231 (1) Deductions column represents the reversal of additions previously charged to costs and expenses and uncollectible accounts written off, net of recoveries. |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2020 | |
Accounting Policies [Abstract] | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | Principles of Consolidation and Basis of Presentation These Consolidated Financial Statements include the accounts of the Company and its wholly-owned subsidiaries. All significant intercompany transactions and balances have been eliminated in consolidation. The Consolidated Financial Statements have been prepared in accordance with generally accepted accounting principles in the United States of America ("GAAP"). Certain prior year amounts have been reclassified for consistency with the current year presentation. This insignificant reclassification had no effect on the reported results of operations. License revenue and license cost of revenue are now combined with subscription revenue and subscription cost of revenue, respectively. Risks and uncertainties Coronavirus ("COVID-19") continues to spread throughout the U.S. and the world and c ompliance with the various containment measures implemented by governmental authorities has impacted the Company's business, as well as the businesses of its customers, suppliers and other counterparties, and this impact could last for an indefinite period of time. There are no comparable recent events that provide guidance as to the effect of the spread of COVID-19 as a global pandemic, and a s a result, the Company is unable to predict the full impact that COVID-19 will have on its results from operations, financial condition, liquidity and cash flows due to numerous uncertainties, including the duration and severity of the pandemic and containment measures . |
Accounting Standards Update and Change in Accounting Principle | Changes in Accounting Policies The Company has consistently applied the accounting policies described in this Note 2 to all periods presented in these Consolidated Financial Statements, except for the Company's adoption of certain accounting standards described in more detail under " Recently adopted accounting pronouncements " in this Note 2 below. |
Dollar amounts | Dollar Amounts The dollar amounts presented in the tabular data within these footnote disclosures are stated in thousands of dollars, except per share amounts, or as noted within the context of each footnote disclosure. |
Use of estimates | Use of Estimates The preparation of these Consolidated Financial Statements in conformity with GAAP requires the Company to make certain estimates, judgments and assumptions that affect the reported amounts of assets, liabilities, revenues, costs and expenses during the reporting period. The complexity and judgment required in the Company's estimation process, as well as issues related to the assumptions, risks and uncertainties inherent in determining the nature and timing of satisfaction of performance obligations and determining the standalone selling price of performance obligations, affect the amounts of revenue, expenses, unbilled receivables and deferred revenue. Estimates are also used for, but not limited to, receivables, allowance for doubtful |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash and Cash Equivalents The Company considers all highly liquid investments with an original maturity of three months or less at the time of purchase, or the ability to be settled in cash within a period of three months, to be cash equivalents, except for commercial paper which is classified as short-term investments, if any. The Company has a cash management program that provides for the investment of excess cash balances, primarily in short-term money market instruments. |
Trade and Other Accounts Receivable, Unbilled Receivables, Policy [Policy Text Block] | Trade and Other Receivables Trade and other receivables are primarily comprised of trade receivables, net of allowance for doubtful accounts, contract assets and unbilled receivables. The Company records trade accounts receivable for its unconditional rights to consideration arising from the Company's performance under contracts with customers. The Company's standard billing terms are that payment is due upon receipt of invoice, payable generally within thirty to sixty days. The carrying value of such receivables, net of the allowance for doubtful accounts, represents their estimated net realizable value. When developing its estimate of expected credit losses on trade and other receivables, the Company considers the available information relevant to assessing the collectability of cash flows, which includes a combination of both internal and external information relating to past events, current conditions, and future forecasts as well as relevant qualitative and quantitative factors that relate to the environment in which the Company operates. Contract assets represent conditional rights to consideration that have been recognized as revenue in advance of billing the customer. Unbilled receivables represent unconditional rights to consideration arising from contingent revenue that have been recognized as revenue in advance of billing the customer. |
Prepaid Expenses and Other Assets [Policy Text Block] | Prepaid Expenses and Other Assets Prepaid expenses and other assets consist primarily of prepaid third-party software subscription and license fees, deferred project costs and prepaid income taxes. |
Property, Plant and Equipment, Policy [Policy Text Block] | Property and Equipment, Net Property and equipment are recorded at cost, less accumulated depreciation. Maintenance, repairs and minor replacements are charged to expense as incurred. Significant renewals and betterments are capitalized. Depreciation on property and equipment, with the exception of leasehold improvements, is recorded using the straight-line method over the estimated useful lives of the assets. Depreciation on leasehold improvements is recorded using the shorter of the lease term or useful life. When property is retired or disposed of, the cost and related accumulated depreciation are removed from the accounts and any resulting gains or losses are reflected in the Consolidated Statements of Comprehensive Income (Loss) in the period of disposal. |
Internal-use software | Internal-Use Software Costs incurred to develop internal-use software during the application development stage are capitalized, stated at cost, and depreciated using the straight-line method over the estimated useful lives of the assets. Application development stage costs generally include salaries and personnel costs and third-party contractor expenses associated with internal-use software development, configuration and coding. Capitalization of such costs begins when the preliminary project stage is complete and ceases at the point in which the project is substantially complete and is ready for its intended purpose. Capitalized internal-use software is included in property and equipment, net in the Consolidated Balance Sheets. |
Lessee, Leases [Policy Text Block] | Leases The Company determines if an arrangement is a lease at inception. Operating leases are included in operating lease right-of-use ("ROU") assets, current operating lease liabilities and noncurrent operating lease liabilities in the Company's Consolidated Balance Sheet. ROU assets represent the Company’s right to use an underlying asset over the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from the lease. ROU assets and lease liabilities are recognized at the lease commencement date based on the estimated present value of lease payments over the lease term. The Company includes any anticipated lease incentives in the determination of lease liability. The Company uses its estimated incremental borrowing rate, which is derived from information available at the lease commencement date, in determining the present value of lease payments. The Company gives consideration to its recent debt issuances as well as publicly available data for instruments with similar characteristics when determining its incremental borrowing rates. The Company’s lease terms will include options to extend the lease when it is reasonably certain that the Company will exercise that option. Leases with a term of 12 months or less are not recorded on the Company's unaudited condensed consolidated balance sheet. The Company’s lease agreements do not contain any residual value guarantees. |
Revenue Recognition, Customer Acquisitions [Policy Text Block] | Deferred Costs Sales commissions earned by the Company's sales representatives are considered incremental and recoverable costs of obtaining a customer contract. Sales commissions are deferred and amortized on a straight-line basis over the period of benefit, which the Company has determined to be five to eight years. The Company determined the period of benefit by taking into consideration its customer contracts, expected renewals of those customer contracts (as the Company currently does not pay an incremental sales commission for renewals), the Company's technology and other factors. The Company also defers amounts earned by employees other than sales representatives who earn incentive payments under compensation plans that are also tied to the value of customer contracts acquired. |
Deferred Charges, Policy [Policy Text Block] | Deferred Implementation Costs The Company capitalizes certain contract fulfillment costs, including personnel and other costs (such as hosting, employee salaries, benefits and payroll taxes), that are associated with arrangements where services are not distinct from other undelivered obligations in its customer contracts. The Company analyzes implementation costs and capitalizes those costs that are directly related to customer contracts that are expected to be recoverable and enhance the resources which will be used to satisfy the undelivered performance obligations in those contracts. Deferred implementation costs are amortized ratably over the remaining contract term once the revenue recognition criteria for the respective performance obligation has been met and revenue recognition commences. Deferred implementation costs are included in prepaid and other current assets and other assets, noncurrent in the Consolidated Balance Sheets. Amortization of deferred implementation costs is included in cost of subscription and cost of services revenues in the Consolidated Statements of Comprehensive Income (Loss). |
Revenue Recognition, Deferred Revenue [Policy Text Block] | Deferred Revenue Deferred revenue primarily consists of customer invoicing in advance of revenues being recognized. The Company generally invoices its customers annually in advance for subscription services and maintenance and support services. Deferred revenue that is anticipated to be recognized during the next twelve-month period is recorded as current deferred revenue and the remaining portion is recorded as noncurrent deferred revenue. |
Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block] | Impairment of Long-Lived Assets Long-lived assets are reviewed for impairment whenever an event or change in circumstances indicates that the carrying amount of an asset or group of assets may not be recoverable. The impairment review includes comparison of future cash flows expected to be generated by the asset or group of assets with the associated assets’ carrying value. If the carrying value of the asset or group of assets exceeds its expected future cash flows (undiscounted and without interest charges), an impairment loss is recognized to the extent that the carrying amount of the asset exceeds its fair value. The Company did not identify any impairment indicators and recorded no impairment charges in the year ended December 31, 2020, 2019 and 2018. |
Goodwill and Intangible Assets, Goodwill, Policy [Policy Text Block] | Intangible Assets and Goodwill Intangible assets that have finite lives are amortized over their useful lives and are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. During this review, the Company reevaluates the significant assumptions used in determining the original cost and estimated lives of the intangible assets. Although the assumptions may vary from asset to asset, they generally include operating results, changes in the use of the asset, cash flows and other indicators of value. Management then determines whether the remaining useful life continues to be appropriate or whether there has been an impairment of the intangible assets based primarily upon whether expected future undiscounted cash flows are sufficient to support the assets’ recovery. If impairment exists, the Company would adjust the carrying value of the asset to fair value, generally determined by a discounted cash flow analysis. Goodwill represents the excess of the purchase consideration over the net of the acquisition-date fair value of identifiable assets acquired, including identifiable intangible assets, and liabilities assumed in connection with business combinations. Goodwill is not amortized but is assessed for impairment as of November 30 of each fiscal year, or more frequently if events or changes in circumstances indicate that the fair value of the Company’s sole reporting unit has been reduced below its carrying value. When conducting the annual goodwill impairment assessment, a two-step process is used. The first step is to perform an optional qualitative evaluation as to whether it is more likely than not that the fair value of the Company’s sole reporting unit is less than its carrying value, using an assessment of relevant events and circumstances. In performing this assessment, the Company is required to make assumptions and judgments including but not limited to an evaluation of macroeconomic conditions as they relate to the business, industry and market trends, as well as the overall future financial performance of the reporting unit and future opportunities in the markets in which it operates. If it is determined that it is not more likely than not that the fair value of the reporting unit is less than its carrying value, no additional tests are required to be performed in assessing goodwill for impairment. However, if the Company concludes otherwise or elects not to perform the qualitative assessment, the Company performs a second step, consisting of a quantitative assessment of goodwill impairment. This quantitative assessment requires the Company to compare the fair value of its reporting unit with its carrying value. If the carrying amount exceeds the fair value, an impairment charge will be recognized, however, loss cannot exceed the total amount of goodwill allocated to the reporting unit. Based on the results of the qualitative review of goodwill performed as of November 30, 2020, the Company did not identify any indicators of impairment. As such, the quantitative assessment described above was not necessary. |
Investment, Policy | Equity Investments Investments in equity securities of privately held companies without readily determinable fair value, where the Company does not exercise significant influence over the investee, are recorded at cost, less impairment and adjusted for subsequent observable price changes obtained from orderly transactions for identical or similar investments issued by the same investee. Adjustments resulting from impairment, fair value, or observable price changes are accounted for in the Consolidated Statements of Comprehensive Income (Loss). |
Fair Value of Financial Instruments, Policy [Policy Text Block] | Financial Instruments The carrying amount of the Company’s financial instruments, which include cash equivalents, receivables and accounts payable, and equity investments approximates their fair values at December 31, 2020 and 2019. For additional information on the Company’s fair value measurements, see Note 10 to the Consolidated Financial Statements. |
Debt, Policy [Policy Text Block] | Convertible Senior NotesIn accounting for the issuance of the Notes, the Company separates each of the Notes into liability and equity components. The carrying amounts of the liability components are calculated by measuring the fair value of similar liabilities that do not have associated convertible features. The carrying amount of the equity components representing the conversion option are determined by deducting the fair value of the liability components from the par value of the respective Notes. These differences represent debt discounts that are amortized to interest expense over the respective terms of the Notes using the effective interest rate method. The equity components are not remeasured as long as they continue to meet the conditions for equity classification. In accounting for the issuance costs related to the Notes, the Company allocates the total amount of issuance costs incurred to the liability and equity components based on their relative values. Issuance costs attributable to the liability components are being amortized on a straight-line basis, which approximates the effective interest rate method, to interest expense over the respective terms of the Notes. The issuance costs attributable to the equity components are netted against the respective equity components in additional paid-in capital. |
Research, Development, and Computer Software, Policy [Policy Text Block] | Research and Development Research and development costs for software sold to customers are expensed as incurred. These costs include salaries and personnel costs, including employee benefits, third-party contractor expenses, software development tools, an allocation of facilities and depreciation expenses and other expenses in developing new solutions and upgrading and enhancing existing solutions. Software Development Costs Capitalization of software development costs for software to be sold, leased, or otherwise marketed begins upon the establishment of technological feasibility, which is generally the completion of a working prototype that has been certified as having no critical bugs and is a release candidate. Amortization begins once the software is ready for its intended use, generally based on the pattern in which the economic benefits will be consumed. To date, software development costs incurred between completion of a working prototype and general availability of the related product have not been material. |
Treasury Stock [Text Block] | Treasury Stock The Company is authorized to make treasury stock purchases in the open market pursuant to the share repurchase program, which was approved by its Board of Directors on August 28, 2008. The Company accounts for the purchase of treasury stock under the cost method. For additional information on the Company’s stock repurchase program, see Note 12 to the Consolidated Financial Statements. There were no treasury stock repurchases under the program for the years ended December 31, 2020, 2019 and 2018. |
Revenue recognition | Revenue Recognition The Company derives its revenues primarily from subscriptions, services, and associated software maintenance and support services. The Company determines revenue recognition through the following steps: • Identification of the contract, or contracts, with a customer; • Identification of the performance obligations in the customer contract(s); • Determination of the transaction price; • Allocation of the transaction price to each performance obligation in the customer contract(s); and • Recognition of revenue when, or as, the Company satisfies a performance obligation. Subscription revenue Subscription revenue primarily consists of fees that give customers access to one or more of the Company's cloud applications with related customer support. The Company primarily recognizes subscription revenue ratably over the contractual term of the arrangement beginning with commencement of service. Subscription revenue related to certain offerings, where fees are based on a number of transactions, are recognized on a usage basi s. The Company's subscription contracts do not provide customers with the right to take possession of the software supporting the service and, as a result, are accounted for as service contracts. The Company's subscription contracts are generally two to five years in length, billed annually in advance, and non-cancelable. Maintenance and support revenue Maintenance and support revenue includes customer support for on-premises licenses and the right to unspecified software updates and enhancements. The Company recognizes revenue from maintenance and support arrangements ratably over the period in which the services are provided. The Company's maintenance and support contracts are generally one year in length, billed annually in advance, and non-cancelable. Services revenue S ervices revenue primarily consists of fees for configuration services, consulting and training. The Company typically sells its services either on a fixed-fee or time-and-material basis. Services revenue is generally recognized as the services are performed for time and material contracts, or on a proportional performance basis for fixed-price contracts. The majority of the Company's Services contracts are on a fixed-fee basis. Training revenue is recognized as the services are rendered. Significant judgments are required in determining whether services that are contained in the Company's customer subscription contracts are considered distinct, including whether the services are capable of being distinct and whether they are separately identifiable. Services deemed to be distinct are accounted for as a separate performance obligation and revenue is recognized as the services are performed. If determined services are not considered distinct, the services and the subscription are determined to be a single performance obligation and revenue is recognized over the contractual term of the subscription beginning on the date that subscription services are made available to the customer. Customer contracts with multiple performance obligations A portion of the Company's customer contracts contain multiple performance obligations. Significant judgment is required in determining whether multiple performance obligations contained in a single customer contract are capable of being distinct and are separately identifiable. An obligation determined to be distinct is accounted for as a separate performance obligation and revenue for that separate performance obligation is recognized when, or as, the Company satisfies the performance obligation. If obligations are not determined to be distinct, those obligations are accounted for as a single, combined performance obligation. The transaction price is allocated to each performance obligation on a relative standalone selling price basis. Disaggregation of revenue The Company categorizes revenue from external customers by geographic area based on the location of the customer's headquarters. For additional information regarding the Company's revenue by geography, see Note 19 to the Consolidated Financial Statements. |
Foreign Currency Transactions and Translations Policy [Policy Text Block] | Foreign Currency The Company has contracts denominated in foreign currencies and therefore a portion of the Company’s revenue is subject to foreign currency risks. Gains and losses from foreign currency transactions, such as those resulting from the settlement of receivables, are classified in other income (expense), net included in the accompanying Consolidated Statements of Comprehensive Income (Loss). The functional currency of PROS France SAS ("PROS France") is the Euro. The financial statements of this subsidiary are translated into U.S. dollars using period-end rates of exchange for assets and liabilities, historical rates of exchange for equity, and average rates of exchange for the p eriod for revenue and expenses. Translation gains (losses) are recorded in accumulated other comprehensive income (loss) as a component of stockholders’ equity. |
Noncash share-based compensation | Noncash Share-Based Compensation The Company has two noncash share-based compensation plans, the 2007 Equity Incentive Plan ("2007 Stock Plan") and the 2017 Equity Incentive Plan ("2017 Stock Plan"), which authorize the discretionary granting of various types of stock awards to key employees, officers, directors and consultants. The 2007 Stock Plan expired in March 2017. The 2017 Stock Plan serves as the successor to the 2007 Stock Plan and was adopted in May 2017. The Company may provide noncash share-based compensation through the grant of: (i) restricted stock awards; (ii) restricted stock unit awards - time, performance and market-based ("RSUs"); (iii) stock options; (iv) stock appreciation rights ("SARs"); (v) phantom stock; and (vi) performance awards, such as market stock units ("MSUs"). To date, the Company has granted stock options, SARs, RSUs, time, performance and market-based, and MSUs. The Company issues common stock from its pool of authorized stock upon exercise of stock options, settlement of SARs and MSUs or upon vesting of RSUs. The following table presents the number of awards outstanding for each award type as of December 31, 2020 and 2019 (in thousands): Year Ended December 31, Award type 2020 2019 Restricted stock units (time-based) 1,802 1,893 Restricted stock units (performance-based) 162 114 Stock appreciation rights 28 65 Market stock units 111 267 Stock options. The Company did not grant stock options during 2020 and 2019. The fair value of each stock option is estimated on the date of grant using the Black-Scholes option pricing model. Restricted stock units. The fair value of the RSUs (time-based and performance-based) is based on the closing price of the Company’s stock on the date of grant and is amortized over the vesting period. RSUs include (i) time-based awards and (ii) performance-based awards in which the number of shares that vest are based upon achievement of certain internal performance metrics set by the Company. Stock appreciation rights. SARs will be settled in stock at the time of exercise and vest over four years from the date of grant. The Company used the Black-Scholes option pricing model to estimate the fair value of its SARs. The determination of the fair value of SARs utilizing the Black-Scholes model is affected by the Company’s stock price and a number of assumptions, including expected volatility, expected life, delivery of risk-free interest rate and expected dividends. The Company estimates the expected volatility of common stock at the date of grant based on a combination of its historical volatility and the average volatility of comparable companies. The expected life of the SARs noncash share-based payment awards is a historical weighted average of the expected lives of similar securities of comparable public companies. The risk-free interest rate assumption is based on observed interest rates appropriate for the terms of the Company’s awards. The dividend yield assumption is based on the Company's expectation of paying no dividends. Market stock units. MSUs are performance-based awards that vest based upon the Company’s relative shareholder return. The actual number of MSUs that will be eligible to vest is based on the total shareholder return of the Company relative to the total shareholder return of the Russell 2000 Index ("Index") over a 3-year period ending February 28, 2020, October 9, 2020 and December 31, 2020 ("Performance Period"), respectively. The MSUs vested on March 1, 2020 and October 9, 2020, and will vest on January 10, 2021, respectively. The maximum number of shares issuable upon vesting is 200% of the MSUs initially granted based on the average price of the Company's common stock relative to the Index during the Performance Period. The Company estimates the fair value of MSUs on the date of grant using a Monte Carlo simulation model. The determination of the fair value of the MSUs is affected by the Company’s stock price and a number of assumptions including the expected volatility of the Company’s stock and the Index, its risk-free interest rate and expected dividends. The Company’s expected volatility at the date of grant was based on the historical volatilities of the Company and the Index over the Performance Period. As the Company issues stock options and SARs, it evaluates the assumptions used to value its stock option awards and SARs. If factors change and the Company employs different assumptions, noncash share-based compensation expense may differ significantly from what has been recorded in the past. If there are any modifications or cancellations of the underlying unvested securities, the Company may be required to accelerate, increase or cancel any remaining unearned noncash share-based compensation expense. Future noncash share-based compensation expense and unearned noncash share-based compensation will increase to the extent that the Company grants additional equity awards to employees. At December 31, 2020, there were an estimated $55.9 million of total unrecognized compensation costs related to noncash share-based compensation arrangements. These costs will be recognized over a weighted average period of 2.5 years. For further discussion of the Company’s noncash share-based compensation plans, see Note 14 to the Consolidated Financial Statements. |
Income taxes | Income Taxes The Company uses the asset and liability method to account for income taxes, including recognition of deferred tax assets and liabilities for the anticipated future tax consequences attributable to differences between financial statement amounts and their respective tax basis. The Company reviews its deferred tax assets for recovery. A valuation allowance is established when the Company believes that it is more likely than not that some portion of its deferred tax assets will not be realized. Changes in the valuation allowance from period to period are included in the Company’s tax provision in the period of change. The Company accounts for uncertain income tax positions recognized in an enterprise’s financial statements in accordance with the income tax topic of the ASC issued by the FASB. This interpretation requires companies to use a prescribed model for assessing the financial recognition and measurement of all tax positions taken or expected to be taken in its tax returns. This guidance provides clarification on recognition, classification, interest and penalties, accounting in interim periods, disclosures and transition. The Company recognized accrued interest and penalties related to income taxes as a component of income tax expense. For additional information regarding the Company’s income taxes, see Note 15 |
Segment Reporting, Policy [Policy Text Block] | Segment Reporting The Company reports as one operating segment with the Chief Executive Officer ("CEO") acting as the Company’s chief operating decision maker. The Company’s CEO reviews financial information presented on a consolidated basis for purposes of allocating resources and evaluating financial performance. The Company has a single reporting unit, and there are no segment managers who are held accountable for operations, operating results or components below the consolidated unit level. |
Earnings per share | Earnings Per ShareThe Company computes basic earnings (loss) per share by dividing net income (loss) attributable to common stockholders by the weighted average number of common shares outstanding. Diluted earnings (loss) per share is computed by giving effect to all dilutive potential common shares outstanding during the period using the treasury stock method and convertible notes using the if-converted method. Dilutive potential common shares consist of shares issuable upon the exercise of stock options, shares of unvested restricted stock units and market stock units, and settlement of stock appreciation rights. When the Company incurs a net loss, the effect of the Company's outstanding stock options, stock appreciation rights, restricted stock units, market stock units and convertible notes are not included in the calculation of diluted earnings (loss) per share as the effect would be anti-dilutive. Accordingly, basic and diluted net loss per share are identical. |
Recent accounting pronouncements | Recently Adopted Accounting Pronouncements In June 2016, the FASB issued ASU 2016-13, Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments ("Topic 326") , in order to improve financial reporting of expected credit losses on financial instruments and other commitments to extend credit. Topic 326 requires that an entity measure and recognize expected credit losses for financial assets held at amortized cost and replaces the incurred loss impairment methodology in current GAAP with a methodology that requires consideration of a broader range of information to estimate credit losses. The Company adopted Topic 326 as of January 1, 2020 using the modified retrospective method and there was no material impact on the Company's unaudited condensed consolidated financial statements as of the adoption date. As of December 31, 2020, the Company has recorded allowance for doubtful accounts related to trade receivables of $4.1 million primarily due to increased credit risk from uncertain economic conditions caused by COVID-19. In February 2016, the FASB issued ASU 2016-02, " Leases (Topic 842) " ("Topic 842"), which requires the lessee to recognize most leases on the balance sheet thereby resulting in the recognition of right-of-use ("ROU") assets and lease liabilities for those leases currently classified as operating leases. Lessor accounting remains largely unchanged from current guidance, however, Topic 842 provides improvements that are intended to align lessor accounting with the lessee model and with updated revenue recognition guidance. This standard took effect in the first quarter of 2019, including interim periods within that reporting period. The Company adopted Topic 842 as of January 1, 2019 using the modified retrospective method by recognizing the cumulative effect of initially applying the new standard as an adjustment to the opening balances of operating ROU assets and lease liabilities, while prior period amounts are not adjusted and continue to be reported in accordance with the Company's historic accounting under the prior lease accounting rules in ASC 840, " Leases ". See Note 2 - Summary of Significant Accounting Policies to the Consolidated Financial Statements included in form 10-K for the year ended December 31, 2019, regarding the impact of Topic 842 adoption on the Consolidated Financial Statements. In August 2018, the FASB issued ASU 2018-15, "Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40): Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That is a Service Contract" ("Subtopic 350-40") . The amendment aligns the requirements for capitalizing implementation costs in a cloud computing arrangement service contract with the requirements for capitalizing implementation costs incurred to develop or obtain an internal-use software. The standard is effective for annual periods, including interim periods within those annual periods, beginning after December 15, 2019; early adoption is permitted. The Company early adopted Subtopic 350-40 prospectively effective January 1, 2019 and there was no impact on the Company's Consolidated Financial Statements as of the adoption date. During the years ended December 31, 2020 and 2019, the Company capitalized implementation cost in result of adoption of the standard which affected the prepaid and other current assets and other assets, noncurrent line items in the Consolidated Financial Statements. In January 2017, the FASB issued ASU 2017-04, " Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment " ("Topic 350"), which eliminates step two from the goodwill impairment test. Under the amendments in this standard, an entity should recognize an impairment charge for the amount by which the carrying amount of a reporting unit exceeds its fair value; however, the loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. The standard is effective for interim and annual reporting periods beginning after December 15, 2019; earlier adoption is permitted for goodwill impairment tests performed after January 1, 2017. The Company early adopted Topic 350 effective October 1, 2019 and there was no impact on its Consolidated Financial Statements in result of the standard adoption. In May 2014, the FASB issued Accounting Standards Update ("ASU") No. 2014-09, " Revenue from Contracts with Customers (Topic 606) " ("Topic 606"). Topic 606 replaces the prior revenue recognition requirements in ASC 605, "Revenue Recognition" ("Topic 605" or "Prior Guidance") with a comprehensive revenue measurement and recognition standard, and expanded disclosure requirements. The new standard also provides guidance on the recognition of costs related to obtaining customer contracts. Topic 606 took effect in the first quarter of 2018, including interim periods within that reporting period. The Company adopted Topic 606 and applied Topic 606 to those contracts which were not complete as of January 1, 2018 using the modified retrospective method by recognizing the cumulative effect of initially applying the new standard as an adjustment to the opening balance of accumulated deficit, while prior period amounts were not adjusted and continue to be reported in accordance with the Company's historic accounting under the Prior Guidance. See Note 2 - Summary of Significant Accounting Policies to the Consolidated Financial Statements included in form 10-K for the year ended December 31, 2018, regarding the impact of Topic 606 adoption on the Consolidated Financial Statements. Recent Accounting Pronouncements In August 2020, the FASB issued ASU 2020-06, Debt - Debt with Conversion and Other Options ("Subtopic 470-20") and Derivatives and Hedging - Contracts in an Entity's Own Equity ("Subtopic 815-40") , which simplifies the accounting for certain convertible instruments, amends the guidance on derivative scope exceptions for contracts in an entity's own equity, and modifies the guidance on diluted earnings per share calculations as a result of these changes. This new standard is effective for the Company's interim and annual periods beginning January 1, 2022, and earlier adoption is permitted on January 1, 2021. The Company may elect to apply the amendments on a retrospective or modified retrospective basis. The Company will early adopt the new standard effective January 1, 2021 on the modified retrospective basis. The adoption is expected to increase convertible debt, net, noncurrent by approximately $70.6 million excluding the impact of debt issuance cost and the equity conversion component. The Company is currently continuing to assess the impact of the adoption of the standard on its financial statements. With the exception of the new standards discussed above, there have been no other recent accounting pronouncements or changes in accounting pronouncements during the year ended December 31, 2020, that are of significance or potential significance to the Company. |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Accounting Policies [Abstract] | |
Disclosure of Share-based Compensation Arrangements by Share-based Payment Award [Table Text Block] | The following table presents the number of awards outstanding for each award type as of December 31, 2020 and 2019 (in thousands): Year Ended December 31, Award type 2020 2019 Restricted stock units (time-based) 1,802 1,893 Restricted stock units (performance-based) 162 114 Stock appreciation rights 28 65 Market stock units 111 267 |
Trade and Other Receivables, _2
Trade and Other Receivables, Net (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Accounts Receivable [Abstract] | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | Accounts receivable at December 31, 2020 and 2019, consists of the following (in thousands): December 31, 2020 2019 Accounts receivable $ 50,257 $ 59,606 Unbilled receivables and contract assets 3,443 5,682 Total receivables 53,700 65,288 Less: Allowance for doubtful accounts (4,122) (214) Trade and other receivables, net $ 49,578 $ 65,074 |
Property and Equipment, net (Ta
Property and Equipment, net (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Property, Plant and Equipment [Abstract] | |
Property, Plant and Equipment [Table Text Block] | Property and equipment, net as of December 31, 2020 and 2019 consists of the following: December 31, Estimated useful life 2020 2019 Furniture and fixtures 5-10 years $ 6,248 $ 3,227 Computers and equipment 3-5 years 17,333 15,388 Software 3-6 years 7,646 7,302 Capitalized internal-use software development costs 3 years 12,217 10,194 Leasehold improvements Shorter of lease term or useful life 20,709 5,591 Construction in progress 147 794 Property and equipment, gross 64,300 42,496 Less: Accumulated depreciation and amortization (27,796) (27,702) Property and equipment, net $ 36,504 $ 14,794 |
Leases (Tables)
Leases (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Leases [Abstract] | |
Lease, Cost [Table Text Block] | The components of operating lease expense were as follows (in thousands): Year Ended December 31, 2020 Year Ended December 31, 2019 Operating lease cost $ 11,632 $ 10,109 Variable lease cost 1,717 1,810 Sublease income (375) (332) Total lease cost $ 12,974 $ 11,587 |
Supplemental Cash Flow Information Related to Leases [Table Text Block] | Supplemental information related to leases was as follows (in thousands): Year Ended December 31, 2020 Year Ended December 31, 2019 Cash paid for amounts included in the measurement of lease liability: Cash paid for operating lease liabilities $ 7,562 $ 5,883 Right-of-use asset obtained in exchange for operating lease liability (1) $ 12,599 $ 34,418 (1) For the year ended December 31, 2019, the balance included $26.9 million for operating leases existing on January 1, 2019 upon adoption of ASU 842. |
Supplemental Balance Sheet Information Related to Leases [Table Text Block] | December 31, 2020 December 31, 2019 Weighted average remaining lease term: Operating leases 8.6 years 7.1 years Weighted average discount rate: Operating leases 7.12 % 7.26 % |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | As of December 31, 2020, maturities of lease liabilities were as follows (in thousands): Year Ending December 31, Amount 2021 $ 9,580 2022 10,374 2023 11,378 2024 5,418 2025 4,265 2026 and thereafter 31,867 Total operating lease payments 72,882 Less: Imputed interest (21,461) Less: Anticipated lease incentive (1,385) Total operating lease liabilities $ 50,036 |
Goodwill and Intangible Assets
Goodwill and Intangible Assets (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Goodwill [Line Items] | |
Schedule of Goodwill [Table Text Block] | The change in the carrying amount of goodwill for the years ended December 31, 2020 and 2019, was as follows (in thousands): Balance as of December 31, 2018 $ 38,231 Goodwill acquired 11,077 Foreign currency translation adjustments (204) Balance as of December 31, 2019 49,104 Foreign currency translation adjustments 940 Balance as of December 31, 2020 $ 50,044 |
Schedule of Finite-Lived Intangible Assets [Table Text Block] | Intangible assets consisted of the following as of December 31, (in thousands): December 31, 2020 Weighted average useful life (years) Gross Carrying Amount Accumulated Amortization* Net Carrying Amount Developed technology 7 $ 27,700 $ 22,077 $ 5,623 Maintenance relationships 8 3,608 3,259 349 Customer relationships 6 12,513 10,144 2,369 Acquired technology 2 1,925 1,925 — Total $ 45,746 $ 37,405 $ 8,341 *Cumulative foreign currency translation adjustments, reflecting movement in the currencies of the underlying entities, increased total intangible assets by approximately $0.1 million as of December 31, 2020. December 31, 2019 Weighted average useful life (years) Gross Carrying Amount Accumulated Amortization* Net Carrying Amount Developed technology 7 $ 26,839 $ 17,653 $ 9,186 Maintenance relationships 8 3,451 2,790 661 Customer relationships 6 12,439 8,478 3,961 Acquired technology 2 1,925 1,128 797 Total $ 44,654 $ 30,049 $ 14,605 *Cumulative foreign currency translation adjustments, reflecting movement in the currencies of the underlying entities, decreased total intangible assets by approximately $0.1 million as of December 31, 2019. |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | As of December 31, 2020, the expected future amortization expense for the acquired intangible assets for each of the five succeeding years and thereafter was as follows (in thousands): Year Ending December 31, Amount 2021 $ 3,391 2022 2,180 2023 1,547 2024 971 2025 156 2026 and thereafter 96 Total amortization expense $ 8,341 |
Earnings per Share (Table)
Earnings per Share (Table) | 12 Months Ended |
Dec. 31, 2020 | |
Earnings Per Share [Abstract] | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | The following table sets forth the computation of basic and diluted earnings per share: For the Year Ended December 31, 2020 2019 2018 Numerator: Net loss $ (76,984) $ (69,081) $ (64,246) Denominator: Weighted average shares (basic) 43,301 40,232 34,465 Dilutive effect of stock options, SARs, RSUs, MSUs and convertible notes — — — Weighted average shares (diluted) 43,301 40,232 34,465 Basic earnings per share $ (1.78) $ (1.72) $ (1.86) Diluted earnings per share $ (1.78) $ (1.72) $ (1.86) |
Noncash Share-based Compensat_2
Noncash Share-based Compensation (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Schedule of Share-based Compensation Expense | Noncash share-based compensation expense is allocated to expense categories on the Consolidated Statements of Comprehensive Income (Loss). The following table summarizes noncash share-based compensation expense, net of amounts capitalized, for the years ended December 31, 2020, 2019 and 2018 (in thousands). For the Year Ended December 31, 2020 2019 2018 Share-based compensation: Cost of revenue $ 2,132 $ 2,025 $ 1,721 Operating expenses: Selling and marketing 6,536 5,995 4,396 General and administrative 9,670 11,451 10,717 Research and development 6,061 5,209 4,619 Total included in operating expenses 22,267 22,655 19,732 Total share-based compensation expense $ 24,399 $ 24,680 $ 21,453 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value [Table Text Block] | The following table summarizes the Company's SARs activity for the year ended December 31, 2020 (number of shares and intrinsic value in thousands): Stock Weighted Weighted Aggregate Outstanding, December 31, 2019 65 $ 10.38 Granted — — Exercised (37) 9.59 Forfeited — — Expired — — Outstanding, December 31, 2020 28 $ 11.42 0.16 $ 1,102 Exercisable at December 31, 2020 28 $ 11.42 0.16 $ 1,102 Vested and expected to vest at December 31, 2020 28 $ 11.42 0.16 $ 1,102 (1) The aggregate intrinsic value was calculated based on the positive difference between the estimated fair value of the Company’s common stock on December 31, 2020 of $50.77 and the exercise price of the underlying SARs. |
Schedule of Nonvested Performance-based Units Activity [Table Text Block] | The following table summarizes the Company's MSUs activity for the year ended December 31, 2020 (number of shares and intrinsic value in thousands): Number of Weighted Weighted Aggregate Unvested at December 31, 2019 267 $ 32.54 Granted — — Vested (150) 28.03 Forfeited (6) 38.18 Expired — — Unvested at December 31, 2020 111 $ 38.18 0.03 $ 5,622 (1) The aggregate intrinsic value was calculated based on the positive difference between the estimated fair value of the Company’s common stock on December 31, 2020 of $50.77 and the grant date fair value of the underlying MSUs. |
Market Stock Units Valuation Assumptions [Table Text Block] | Significant assumptions used in the Monte Carlo simulation model for MSUs granted during the year ended December 31, 2018 are as follows: For the Year Ended December 31, 2018 Volatility 43.67% Risk-free interest rate 2.12% Expected option life in years 2.97 Dividend yield — |
Restricted Stock Unit - time based [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Share-based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity [Table Text Block] | The following table summarizes the Company's unvested time-based RSUs as of December 31, 2020, and changes during the year then ended (number of shares and intrinsic value in thousands): Number of Weighted Weighted Aggregate Unvested at December 31, 2019 1,893 $ 27.83 Granted 976 52.62 Vested (814) 23.88 Forfeited (253) 39.25 Unvested at December 31, 2020 1,802 $ 41.44 2.03 $ 91,476 Expected to vest at December 31, 2020 1,653 $ 40.80 2.00 $ 83,909 (1) The aggregate intrinsic value was calculated based on the fair value of the Company’s common stock on December 31, 2020 of $50.77. |
Performance Shares [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Share-based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity [Table Text Block] | The following table summarizes the Company's unvested PRSUs as of December 31, 2020, and changes during the year then ended (number of shares and intrinsic value in thousands): Number of Weighted Weighted Aggregate Unvested at December 31, 2019 114 $ 33.05 Granted 76 54.23 Vested — — Forfeited (28) 39.46 Unvested at December 31, 2020 162 $ 41.89 1.46 $ 8,243 Expected to vest at December 31, 2020 74 $ 33.05 1.04 $ 3,744 (1) The aggregate intrinsic value was calculated based on the fair value of the Company’s common stock on December 31, 2020 of $50.77. |
Income Tax Disclosure (Tables)
Income Tax Disclosure (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Schedule of income tax components [Abstract] | |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | The income tax provision consisted of the following for the years ended December 31, 2020, 2019 and 2018 (in thousands): Year Ended December 31, 2020 2019 2018 Current: Federal $ — $ — $ (252) State and Foreign 676 624 663 676 624 411 Deferred: Federal — — (211) State — — — Income tax provision $ 676 $ 624 $ 200 |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | The differences between the effective tax rates reflected in the total provision for income taxes and the U.S. federal statutory rate of 21% for the years ended December 31, 2020, 2019 and 2018, respectively, were as follows (in thousands): Year Ended December 31, 2020 2019 2018 Provision at the U.S. federal statutory rate $ (16,035) $ (14,491) $ (13,464) Increase (decrease) resulting from: State income taxes, net of federal taxes — 17 46 Nondeductible expenses 482 468 414 Statutory to GAAP income adjustment 109 (640) (221) Noncash share-based compensation (3,268) (570) (394) Other 460 (368) (153) Incremental benefits for tax credits (2,391) (990) (1,656) Change in tax rate/income subject to lower tax rates (2,385) 788 (1,824) Change related to prior tax years (553) 4,006 (4,800) Change related to US tax reform — — 1,835 Change in valuation allowance 24,257 12,404 20,417 Income tax provision $ 676 $ 624 $ 200 |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | The tax effects of temporary differences and other tax attributes that give rise to significant portions of the deferred tax assets and liabilities as of December 31, 2020 and 2019 are as follows (in thousands): Year Ended December 31, 2020 2019 Noncurrent deferred taxes: Property and equipment $ (104) $ (158) Noncash share-based compensation 2,878 2,534 Disallowed interest expense 8,174 5,871 Capitalized software (2,097) (1,905) Amortization (1,831) (2,971) Operating lease right-of-use assets (5,645) (4,431) Operating lease liabilities 9,833 5,068 R&E tax credit carryforwards 12,620 11,594 Deferred revenue 2,441 2,264 Federal Net Operating Losses ("NOLs") 81,745 69,673 State NOLs 2,697 2,254 State Credits 3,987 2,005 Foreign NOLs 14,090 11,808 Foreign tax credit carryforward 2,168 2,168 Other (93) 821 Total noncurrent deferred tax assets 130,863 106,595 Less: Valuation allowance (130,733) (106,476) Total net deferred tax asset $ 130 $ 119 |
Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block] | The following table sets forth the changes to the Company's unrecognized tax benefit for the year ended December 31, 2020, 2019 and 2018 (in thousands): Year Ended December 31, 2020 2019 2018 Beginning balance $ 14 $ 183 $ 183 Changes based on tax positions related to prior year — — — Changes due to settlement — (169) — Ending balance $ 14 $ 14 $ 183 The table above has been updated to reflect gross tax liability, exclusive of interest and penalties and other offsetting amounts. |
Convertible debt (Tables)
Convertible debt (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Debt Instrument [Line Items] | |
Convertible Debt [Table Text Block] | The Notes consist of the following (in thousands): December 31, 2020 December 31, 2019 Liability component: Principal $ 293,750 $ 143,750 Less: debt discount, net of amortization (75,722) (33,046) Net carrying amount $ 218,028 $ 110,704 Equity component (1) $ 80,098 $ 32,883 (1) Recorded within additional paid-in capital in the Consolidated Balance Sheet. As of December 31, 2020, it included $32.9 million and $47.2 million related to the 2024 and 2027 Notes, respectively, net of $1.1 million and $1.3 million issuance cost in equity, respectively. As of December 31, 2019, it included $32.9 million related to the 2024 Notes, net of $1.1 million issuance cost in equity. The following table sets forth total interest expense recognized related to the Notes (in thousands): Year Ended December 31, 2020 2019 2018 Coupon $ 2,422 $ 3,691 $ 5,000 Amortization of debt issuance costs 733 1,157 1,419 Amortization of debt discount 7,970 9,917 10,567 Total $ 11,125 $ 14,765 $ 16,986 |
Segment and Geographical Info_2
Segment and Geographical Information (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Schedule of Geographic Revenue [Abstract] | |
Schedule of Revenue from External Customers Attributed to Foreign Countries by Geographic Area [Table Text Block] | The following geographic information is presented for the yea rs ended December 31, 2020, 2019 and 2018. The Company categorizes geographic revenues based on the location of the customer’s headquarters. Year Ended December 31, 2020 2019 2018 Revenue Percent Revenue Percent Revenue Percent The Americas: United States of America $ 82,299 32 % $ 85,963 34 % $ 68,482 35 % Other 25,123 10 % 29,129 12 % 18,378 9 % Subtotal 107,422 42 % 115,092 46 % 86,860 44 % Germany 21,587 9 % 18,526 7 % 20,171 10 % The Rest of Europe 53,349 21 % 55,388 22 % 40,776 21 % Asia Pacific 47,416 19 % 43,908 18 % 32,090 16 % The Middle East 21,825 9 % 16,170 6 % 15,092 8 % Africa 825 — % 1,250 — % 2,035 1 % Total revenue $ 252,424 100 % $ 250,334 100 % $ 197,024 100 % |
Quarterly Results Quarterly Fin
Quarterly Results Quarterly Financial Information Disclosures (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Quarterly Financial Information Disclosure [Abstract] | |
Schedule of Quarterly Financial Information [Table Text Block] | The following table presents certain unaudited quarterly financial data for the years ended December 31, 2020 and 2019. This information has been prepared on the same basis as the accompanying Consolidated Financial Statements and all necessary adjustments have been included in the amounts below to state fairly the selected quarterly information when read in conjunction with the accompanying Consolidated Financial Statements and Notes thereto. Quarter Ended December 31, September 30, June 30, March 31, Total revenue $ 60,858 $ 61,508 $ 63,747 $ 66,311 Gross profit $ 35,539 $ 36,871 $ 37,797 $ 37,584 Loss from operations $ (13,426) $ (16,163) $ (15,139) $ (21,352) Net loss attributable to PROS Holdings, Inc. $ (18,184) $ (18,857) $ (17,208) $ (22,735) Net loss attributable to common stockholders per share: Basic $ (0.42) $ (0.44) $ (0.40) $ (0.53) Diluted $ (0.42) $ (0.44) $ (0.40) $ (0.53) Quarter Ended December 31, September 30, June 30, March 31, Total revenue $ 66,175 $ 64,150 $ 63,878 $ 56,131 Gross profit $ 37,814 $ 37,767 $ 40,295 $ 35,341 Loss from operations $ (15,071) $ (12,512) $ (12,145) $ (13,610) Net loss attributable to PROS Holdings, Inc. $ (17,300) $ (17,347) $ (17,517) $ (16,917) Net loss attributable to common stockholders per share: Basic $ (0.41) $ (0.42) $ (0.44) $ (0.45) Diluted $ (0.41) $ (0.42) $ (0.44) $ (0.45) |
Summary of Significant Accoun_4
Summary of Significant Accounting Policies Significant Accounting Policies (Details) $ in Thousands | 12 Months Ended |
Dec. 31, 2020USD ($) | |
Summary of Significant Accounting Policies [Line Items] | |
Tangible Asset Impairment Charges | $ 0 |
Total shareholder return period, in years, for vesting of MSUs | 3 years |
Shares issuable upon vesting of MSUs, maximum | 200.00% |
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized | $ 55,900 |
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized, Period for Recognition | 2 years 6 months |
Summary of Significant Accoun_5
Summary of Significant Accounting Policies Awards Outstanding (Details) - shares shares in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Restricted Stock Unit - time based [Member] | ||
Awards outstanding [Line Items] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number | 1,802 | 1,893 |
Performance Shares [Member] | ||
Awards outstanding [Line Items] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number | 162 | 114 |
Stock Appreciation Rights (SARs) [Member] | ||
Awards outstanding [Line Items] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number | 28 | 65 |
MSUs | ||
Awards outstanding [Line Items] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number | 111 | 267 |
Summary of Significant Accoun_6
Summary of Significant Accounting Policies Impact of adoption of a new pronouncement (Details) - USD ($) | Jan. 01, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||
Allowance for bad debts | $ 4,122,000 | $ 214,000 | |
Accounting Standards Update 2016-13 [Member] | |||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||
Allowance for bad debts | $ 4,100,000 | ||
Accounting Standards Update 2020-06 [Member] | |||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||
Debt Instrument, Unamortized Discount | $ 70,600,000 |
Business Combination (Details)
Business Combination (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Business Acquisition [Line Items] | |||
Payments to Acquire Businesses, Net of Cash Acquired | $ 0 | $ 10,510 | $ 0 |
Business Combination, Acquisition Related Costs | 0 | 502 | 95 |
Goodwill, Acquired During Period | 11,077 | ||
Goodwill | $ 50,044 | 49,104 | $ 38,231 |
Travelaer Acquisition [Member] | |||
Business Acquisition [Line Items] | |||
Payments to Acquire Businesses, Net of Cash Acquired | (10,500) | ||
Business Combination, Acquisition Related Costs | 500 | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 2,000 | ||
Goodwill, Acquired During Period | $ 11,000 | ||
Developed Technology Rights [Member] | Travelaer Acquisition [Member] | |||
Business Acquisition [Line Items] | |||
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 7 years | ||
Customer Relationships [Member] | Travelaer Acquisition [Member] | |||
Business Acquisition [Line Items] | |||
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 5 years |
Trade and Other Receivables, _3
Trade and Other Receivables, Net (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Accounts Receivable, before Allowance for Credit Loss | $ 50,257 | $ 59,606 | |
Unbilled Receivables, Current | 3,443 | 5,682 | |
Accounts Receivable, after Allowance for Credit Loss, Current | 53,700 | 65,288 | |
Accounts Receivable, Allowance for Credit Loss | (4,122) | (214) | |
Account and Unbilled Receivables, Net | 49,578 | 65,074 | |
Bad debt expense | $ 4,800 | $ (600) | $ 200 |
Deferred Costs (Details)
Deferred Costs (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Deferred Costs [Abstract] | |||
Deferred Costs | $ 18.5 | $ 21.2 | |
Amortization of Deferred Charges | $ 5.9 | $ 4.8 | $ 3 |
Deferred Implementation costs_2
Deferred Implementation costs (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Deferred Implementation Costs [Abstract] | |||
Capitalized Contract Cost, Net | $ 2.9 | $ 4.4 | |
Capitalized Contract Cost, Amortization | $ 1.8 | $ 1.4 | $ 0.6 |
Property and Equipment, net (De
Property and Equipment, net (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Property, Plant and Equipment [Line Items] | |||
Property, Plant and Equipment, Gross | $ 64,300 | $ 42,496 | |
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | (27,796) | (27,702) | |
Property, Plant and Equipment, Net | 36,504 | 14,794 | |
Depreciation | 8,000 | 7,100 | $ 5,500 |
Disposal of Property Plant and Equipment | 8,300 | 7,400 | 500 |
Full Depreciated Assets in Use | 10,700 | 12,200 | |
Internal-use software development costs capitalized | 1,686 | 1,436 | $ 4,613 |
Internal Use Software Developed, Subject To Amortization | 12,200 | 9,600 | |
Capitalized Computer Software, Amortization | 7,300 | 4,100 | |
Tangible Asset Impairment Charges | 0 | ||
Furniture and Fixtures [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, Plant and Equipment, Gross | $ 6,248 | 3,227 | |
Furniture and Fixtures [Member] | Minimum [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, Plant and Equipment, Useful Life | 5 years | ||
Furniture and Fixtures [Member] | Maximum [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, Plant and Equipment, Useful Life | 10 years | ||
Computer Equipment [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, Plant and Equipment, Gross | $ 17,333 | 15,388 | |
Computer Equipment [Member] | Minimum [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, Plant and Equipment, Useful Life | 3 years | ||
Computer Equipment [Member] | Maximum [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, Plant and Equipment, Useful Life | 5 years | ||
Software [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, Plant and Equipment, Gross | $ 7,646 | 7,302 | |
Software [Member] | Minimum [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, Plant and Equipment, Useful Life | 3 years | ||
Software [Member] | Maximum [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, Plant and Equipment, Useful Life | 6 years | ||
Software Development [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, Plant and Equipment, Useful Life | 3 years | ||
Property, Plant and Equipment, Gross | $ 12,217 | 10,194 | |
Leasehold Improvements [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, Plant and Equipment, Estimated Useful Lives | Shorter of lease term or useful life | ||
Property, Plant and Equipment, Gross | $ 20,709 | 5,591 | |
Construction in Progress [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, Plant and Equipment, Gross | 147 | 794 | |
Cloud-based product offerings [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Internal-use software development costs capitalized | $ 1,700 | $ 1,400 |
Leases (Details)
Leases (Details) - USD ($) $ in Thousands | Jan. 01, 2019 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Lessee, Lease, Description [Line Items] | ||||
Lessee, Operating Lease, Renewal Term | 15 years | |||
Lessee, Operating Lease, Termination Option | 1 year | |||
Operating Lease, Cost | $ 11,632 | $ 10,109 | ||
Variable Lease, Cost | 1,717 | 1,810 | ||
Sublease Income | (375) | (332) | ||
Lease, Cost | 12,974 | 11,587 | ||
Operating Leases, Rent Expense, Net | $ 4,300 | |||
Operating Lease, Payments | 7,562 | 5,883 | ||
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability | $ 26,900 | $ 12,599 | $ 34,418 | |
Operating Lease, Weighted Average Remaining Lease Term | 8 years 7 months 6 days | 7 years 1 month 6 days | ||
Operating Lease, Weighted Average Discount Rate, Percent | 7.12% | 7.26% | ||
Minimum [Member] | ||||
Lessee, Lease, Description [Line Items] | ||||
Lessee, Operating Lease, Term of Contract | 1 year | |||
Maximum [Member] | ||||
Lessee, Lease, Description [Line Items] | ||||
Lessee, Operating Lease, Term of Contract | 13 years |
Leases Schedule of lease liabil
Leases Schedule of lease liability maturities (Details) $ in Thousands | Dec. 31, 2020USD ($) |
Lessee, Operating Lease, Liability, Payment Due [Abstract] | |
2021 | $ 9,580 |
2022 | 10,374 |
2023 | 11,378 |
2024 | 5,418 |
2025 | 4,265 |
2026 and thereafter | 31,867 |
Lessee, Operating Lease, Liability, Payments, Due | 72,882 |
Lessee, Operating Lease, Liability, Undiscounted Excess Amount | (21,461) |
Lessee, Operating Lease, Anticipated Incentives | (1,385) |
Operating Lease, Liability | $ 50,036 |
Goodwill and Intangible Asset_2
Goodwill and Intangible Assets (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Goodwill [Roll Forward] | ||
Goodwill | $ 49,104 | $ 38,231 |
Goodwill, Acquired During Period | 11,077 | |
Goodwill, Translation Adjustments | 940 | (204) |
Goodwill | $ 50,044 | $ 49,104 |
Goodwill and Intangible Asset_3
Goodwill and Intangible Assets Intangible Assets (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Finite-Lived Intangible Assets [Line Items] | |||
Finite-Lived Intangible Assets, Translation Adjustments | $ 100 | $ 100 | |
Finite-Lived Intangible Assets, Gross | 45,746 | 44,654 | |
Finite-Lived Intangible Assets, Accumulated Amortization | 37,405 | 30,049 | |
Finite-Lived Intangible Assets, Net | 8,341 | 14,605 | |
Amortization of Intangible Assets | $ 6,300 | $ 6,800 | $ 7,600 |
Developed Technology Rights [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Finite-Lived Intangible Asset, Useful Life | 7 years | 7 years | |
Finite-Lived Intangible Assets, Gross | $ 27,700 | $ 26,839 | |
Finite-Lived Intangible Assets, Accumulated Amortization | 22,077 | 17,653 | |
Finite-Lived Intangible Assets, Net | $ 5,623 | $ 9,186 | |
Maintenance relationship [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Finite-Lived Intangible Asset, Useful Life | 8 years | 8 years | |
Finite-Lived Intangible Assets, Gross | $ 3,608 | $ 3,451 | |
Finite-Lived Intangible Assets, Accumulated Amortization | 3,259 | 2,790 | |
Finite-Lived Intangible Assets, Net | $ 349 | $ 661 | |
Customer Relationships [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Finite-Lived Intangible Asset, Useful Life | 6 years | 6 years | |
Finite-Lived Intangible Assets, Gross | $ 12,513 | $ 12,439 | |
Finite-Lived Intangible Assets, Accumulated Amortization | 10,144 | 8,478 | |
Finite-Lived Intangible Assets, Net | $ 2,369 | $ 3,961 | |
Technology-Based Intangible Assets [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Finite-Lived Intangible Asset, Useful Life | 2 years | 2 years | |
Finite-Lived Intangible Assets, Gross | $ 1,925 | $ 1,925 | |
Finite-Lived Intangible Assets, Accumulated Amortization | 1,925 | 1,128 | |
Finite-Lived Intangible Assets, Net | $ 0 | $ 797 |
Goodwill and Intangible Asset_4
Goodwill and Intangible Assets Future Amortization (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Goodwill and Intangible Assets Disclosure [Abstract] | ||
Finite-Lived Intangible Assets, Amortization Expense, Next Twelve Months | $ 3,391 | |
Finite-Lived Intangible Assets, Amortization Expense, Year Two | 2,180 | |
Finite-Lived Intangible Assets, Amortization Expense, Year Three | 1,547 | |
Finite-Lived Intangible Assets, Amortization Expense, Year Four | 971 | |
Finite-Lived Intangible Assets, Amortization Expense, Year Five | 156 | |
Finite-Lived Intangible Assets, Amortization Expense, after Year Five | 96 | |
Finite-Lived Intangible Assets, Net | $ 8,341 | $ 14,605 |
Fair Value Measurements (Detail
Fair Value Measurements (Details) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Fair Value Disclosures [Abstract] | ||
Treasury money market funds, at fair value | $ 301.3 | $ 273.1 |
Cost Method Investments, Fair Value Disclosure | $ 2.6 | $ 2.3 |
Deferred Revenue and Performa_2
Deferred Revenue and Performance Obligation (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Deferred Revenue and Performance Obligation [Abstract] | ||
Deferred Revenue, Revenue Recognized | $ 120.9 | $ 96.4 |
Revenue, Remaining Performance Obligation, Amount | 389.7 | |
Revenue Remaining Performance Obligation, to be recognized within 12 months | $ 178.9 |
Stockholders Equity (Details)
Stockholders Equity (Details) $ in Millions | Dec. 31, 2020USD ($) |
Stockholders' Equity Attributable to Parent [Abstract] | |
Stock Repurchase Program, Remaining Authorized Repurchase Amount | $ 10 |
Stock Repurchase Program, Authorized Amount | $ 15 |
Stockholders Equity Secondary O
Stockholders Equity Secondary Offering (Details) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Secondary Offering [Abstract] | |||
Shares, Issued | 3,800,000 | ||
Shares Issued, Price Per Share | $ 34 | ||
Sale of Stock, Number of Shares Issued in Transaction | 570,000 | ||
Proceeds from Issuance of Common Stock, Gross | $ 148,600 | ||
Proceeds from Issuance of Common Stock | $ 0 | $ 0 | $ 141,954 |
Earnings per Share Basis and Di
Earnings per Share Basis and Diluted (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2020 | Sep. 30, 2020 | Jun. 30, 2020 | Mar. 31, 2020 | Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Numerator | |||||||||||
Net income | $ (18,184) | $ (18,857) | $ (17,208) | $ (22,735) | $ (17,300) | $ (17,347) | $ (17,517) | $ (16,917) | $ (76,984) | $ (69,081) | $ (64,246) |
Denominator | |||||||||||
Weighted average shares (basic) | 43,301 | 40,232 | 34,465 | ||||||||
Dilutive effect of potential common shares | 0 | 0 | 0 | ||||||||
Weighted Average Number of Shares Outstanding, Basic and Diluted | 43,301 | 40,232 | 34,465 | ||||||||
Weighted Average Number of Shares Outstanding, Diluted | 43,301 | 40,232 | 34,465 | ||||||||
Basic earnings per share | $ (0.42) | $ (0.44) | $ (0.40) | $ (0.53) | $ (0.41) | $ (0.42) | $ (0.44) | $ (0.45) | $ (1.78) | $ (1.72) | $ (1.86) |
Diluted earnings per share | $ (0.42) | $ (0.44) | $ (0.40) | $ (0.53) | $ (0.41) | $ (0.42) | $ (0.44) | $ (0.45) | $ (1.78) | $ (1.72) | $ (1.86) |
Share-based Payment Arrangement [Member] | |||||||||||
Denominator | |||||||||||
Antidilutive potential common shares excluded from computation of earnings per share | 1,400 | 2,100 | 2,100 | ||||||||
Convertible Debt Securities [Member] | |||||||||||
Denominator | |||||||||||
Antidilutive potential common shares excluded from computation of earnings per share | 5,800 | 2,200 |
Noncash Share-based Compensat_3
Noncash Share-based Compensation Expense (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | |||
Allocated Share-based compensation expense | $ 24,399 | $ 24,680 | $ 21,453 |
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized | $ 55,900 | ||
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized, Period for Recognition | 2 years 6 months | ||
Cost of revenue | |||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | |||
Allocated Share-based compensation expense | $ 2,132 | 2,025 | 1,721 |
Selling and Marketing Expense [Member] | |||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | |||
Allocated Share-based compensation expense | 6,536 | 5,995 | 4,396 |
General and Administrative Expense [Member] | |||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | |||
Allocated Share-based compensation expense | 9,670 | 11,451 | 10,717 |
Research and development | |||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | |||
Allocated Share-based compensation expense | 6,061 | 5,209 | 4,619 |
Stock compensation in operating expense [Member] | |||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | |||
Allocated Share-based compensation expense | $ 22,267 | $ 22,655 | $ 19,732 |
Noncash Share-based Compensat_4
Noncash Share-based Compensation Noncash Share-based Compensation Share Based Compensation - Stock Option Rollforward (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | ||
Performance Shares [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number | 162 | 114 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 76 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number | 162 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value | [1] | $ 8,243 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period | 0 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period | (28) | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Number | 74 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 54.23 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Weighted Average Grant Date Fair Value | 0 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeitures, Weighted Average Grant Date Fair Value | 39.46 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value | 41.89 | $ 33.05 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Exercise Price | $ 33.05 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Remaining Contractual Term | 1 year 14 days | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Aggregate Intrinsic Value | [1] | $ 3,744 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Outstanding, Weighted Average Remaining Contractual Terms | 1 year 5 months 15 days | |||
Restricted Stock Unit - time based [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number | 1,802 | 1,893 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 976 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number | 1,802 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value | [1] | $ 91,476 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period | (814) | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period | (253) | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Number | 1,653 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 52.62 | $ 35.38 | $ 27.61 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Weighted Average Grant Date Fair Value | 23.88 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeitures, Weighted Average Grant Date Fair Value | 39.25 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value | 41.44 | $ 27.83 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Exercise Price | $ 40.80 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Remaining Contractual Term | 2 years | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Aggregate Intrinsic Value | [1] | $ 83,909 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Outstanding, Weighted Average Remaining Contractual Terms | 2 years 10 days | |||
Share-based Payment Arrangement, Option [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number | 0 | |||
Stock Appreciation Rights (SARs) [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value | [2] | $ 1,102 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number | 28 | 65 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 0 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Expired In Period, Weighted Average Grant Date Fair Value | $ 0 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable, Number | 28 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable, Weighted Average Exercise Price | $ 11.42 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price | $ 10.38 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price | $ 10.38 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable, Weighted Average Remaining Contractual Term | 1 month 28 days | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period | (37) | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period | 0 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Number | 28 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 0 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Weighted Average Grant Date Fair Value | 9.59 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeitures, Weighted Average Grant Date Fair Value | $ 0 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Expirations | 0 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value | $ 11.42 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Exercise Price | $ 11.42 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Remaining Contractual Term | 1 month 28 days | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Aggregate Intrinsic Value | [2] | $ 1,102 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable, Aggregate Intrinsic Value | [2] | $ 1,102 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Outstanding, Weighted Average Remaining Contractual Terms | 1 month 28 days | |||
Market Share Units (MSUs) [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number | 111 | 267 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 0 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Expired In Period, Weighted Average Grant Date Fair Value | $ 0 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number | 111 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value | [3] | $ 5,622 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period | (150) | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period | (6) | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 0 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Weighted Average Grant Date Fair Value | 28.03 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeitures, Weighted Average Grant Date Fair Value | $ 38.18 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Expirations | 0 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value | $ 38.18 | $ 32.54 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Outstanding, Weighted Average Remaining Contractual Terms | 10 days | |||
[1] | The aggregate intrinsic value was calculated based on the fair value of the Company’s common stock on December 31, 2020 of $50.77. | |||
[2] | The aggregate intrinsic value was calculated based on the positive difference between the estimated fair value of the Company’s common stock on December 31, 2020 of $50.77 and the exercise price of the underlying SARs. | |||
[3] | The aggregate intrinsic value was calculated based on the positive difference between the estimated fair value of the Company’s common stock on December 31, 2020 of $50.77 and the grant date fair value of the underlying MSUs. |
Noncash Share-based Compensat_5
Noncash Share-based Compensation Narrative (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized | $ 55,900,000 | ||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition | 2 years 6 months | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Total Intrinsic Value | $ 0 | $ 0 | $ 2,500,000 |
Stock Price at Year End | $ 50.77 | ||
Total shareholder return period for vesting of MSUs | 3 years | ||
Shares issuable upon vesting of MSUs, maximum | 200.00% | ||
Share-based compensation arrangement by share-based payment, Minimum Employee Subscription rate | 1.00% | ||
Share-based Compensation Arrangement by Share-based Payment Award, Maximum Employee Subscription Rate | 10.00% | ||
Share-based Compensation Arrangement by Share-based Payment Award, Discount from Market Price, Offering Date | 15.00% | ||
Maximum Amount Contributable by employees under ESPP- Half yearly | $ 5,000 | ||
Maximum Amount Contributable By Employees Under ESPP- Annually | $ 10,000 | ||
Stock Issued During Period, Shares, Employee Stock Purchase Plans | 65,457 | ||
ESPP contributions by Employees | $ 1,600,000 | ||
Stock Appreciation Rights (SARs) [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number | 28,000 | 65,000 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 0 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 0 | ||
Market Share Units (MSUs) [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number | 111,000 | 267,000 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 0 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 0 | ||
Restricted Stock Unit - time based [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number | 1,802,000 | 1,893,000 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 52.62 | $ 35.38 | $ 27.61 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 976,000 | ||
Performance Shares [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number | 162,000 | 114,000 | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 54.23 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 76,000 | ||
Employee Stock [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 74,794 | ||
2017 Amended Equity Incentive Plan [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 4,550,000 | ||
2007 Equity Incentive Plan [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number | 175,733 | ||
2007 Equity Incentive Plan [Member] | Stock Appreciation Rights (SARs) [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number | 28,000 | ||
2007 Equity Incentive Plan [Member] | Market Share Units (MSUs) [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number | 0 | ||
2007 Equity Incentive Plan [Member] | Restricted Stock Units (RSUs) [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number | 147,733 | ||
2017 Equity Incentive Plan [Member] [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number | 1,927,109 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 1,745,900 | ||
2017 Equity Incentive Plan [Member] [Member] | Market Share Units (MSUs) [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number | 110,726 | ||
2017 Equity Incentive Plan [Member] [Member] | Restricted Stock Units (RSUs) [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number | 1,816,383 |
Noncash Share-based Compensat_6
Noncash Share-based Compensation Assumptions (Details) - Market Share Units (MSUs) [Member] | 12 Months Ended |
Dec. 31, 2018 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate | 43.67% |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate | 2.12% |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term | 2 years 11 months 19 days |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate | 0.00% |
Income Tax Disclosure Component
Income Tax Disclosure Components of Income Tax (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Income Tax Disclosure [Abstract] | |||
Current Federal Tax Expense (Benefit) | $ 0 | $ 0 | $ (252) |
Current State and Foreign | 676 | 624 | 663 |
Current Income Tax Expense (Benefit) | 676 | 624 | 411 |
Deferred Federal Income Tax Expense (Benefit) | 0 | 0 | (211) |
Deferred State and Local Income Tax Expense (Benefit) | 0 | 0 | 0 |
Income Tax Expense (Benefit) | $ 676 | $ 624 | $ 200 |
Income Tax Disclosure Reconcili
Income Tax Disclosure Reconciliation of Federal Tax Rate (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Income Tax Disclosure - Reconciliation of Federal Tax Rate [Abstract] | |||
Income Tax Reconciliation, Income Tax Expense (Benefit), at Federal Statutory Income Tax Rate | $ (16,035) | $ (14,491) | $ (13,464) |
Income Tax Reconciliation, State and Local Income Taxes | 0 | 17 | 46 |
Income Tax Reconciliation, Nondeductible Expense | 482 | 468 | 414 |
Effective income tax reconciliation, Statutory to GAAP adjustments | 109 | (640) | (221) |
Income Tax Reconciliation, Nondeductible Expense, Share-based Compensation Cost | (3,268) | (570) | (394) |
Effective Income Tax Rate Reconciliation, Other Reconciling Items, Amount | 460 | (368) | (153) |
Income Tax Reconciliation, Tax Credits | (2,391) | (990) | (1,656) |
Income Tax Reconciliation, Other Adjustments | (2,385) | 788 | (1,824) |
Effective Income Tax Rate Reconciliation, Change related to Prior Years | (553) | 4,006 | (4,800) |
Effective Income Tax Rate Reconciliation, Change in Enacted Tax Rate, Amount | 0 | 0 | 1,835 |
Income Tax Reconciliation, Change in Deferred Tax Assets Valuation Allowance | 24,257 | 12,404 | 20,417 |
Income Tax Expense (Benefit) | $ 676 | $ 624 | $ 200 |
Income Tax Disclosure Tax Effec
Income Tax Disclosure Tax Effect of Temporary Differences (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Income Tax Disclosure - Tax Effect of Temporary Differences [Abstract] | ||
Deferred Tax Liabilities, Property, Plant and Equipment | $ (104) | $ (158) |
Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits | 2,878 | 2,534 |
Deferred Tax Asset, Disallowed Interest | 8,174 | 5,871 |
Deferred Tax Liabilities, Deferred Expense, Capitalized Software | (2,097) | (1,905) |
Deferred Tax Liabilities, Intangible Assets | (1,831) | (2,971) |
Deferred Tax Liabilities, Operating Lease Right-of-Use Assets | (5,645) | (4,431) |
Deferred Tax Assets, Operating Lease Liabilities | 9,833 | 5,068 |
Deferred Tax Assets, Tax Credit Carryforwards, Research | 12,620 | 11,594 |
Deferred Tax Asset, Deferred Revenue | 2,441 | 2,264 |
Deferred Tax Assets, Operating Loss Carryforwards | 81,745 | 69,673 |
Deferred Tax Assets, Operating Loss Carryforwards, State and Local | 2,697 | 2,254 |
Tax Credit Carryforward, Deferred Tax Asset | 3,987 | 2,005 |
Deferred Tax Assets, Operating Loss Carryforwards, Foreign | 14,090 | 11,808 |
Deferred Tax Assets, Tax Credit Carryforwards, Foreign | 2,168 | 2,168 |
Deferred Tax Assets, Other | (93) | 821 |
Deferred Tax Assets, Gross | 130,863 | 106,595 |
Deferred Tax Assets, Valuation Allowance | 130,733 | 106,476 |
Deferred Tax Assets, Net | $ 130 | $ 119 |
Income Tax Disclosure Unrecogni
Income Tax Disclosure Unrecognized Tax Benefit (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Income Tax Disclosure [Abstract] | ||||
Unrecognized Tax Benefits | $ 14 | $ 14 | $ 183 | $ 183 |
Unrecognized Tax Benefits, Increases Resulting from Prior Period Tax Positions | 0 | 0 | 0 | |
Unrecognized Tax Benefits, Decrease Resulting from Settlements with Taxing Authorities | $ 0 | $ (169) | $ 0 |
Income Tax Disclosure (Details)
Income Tax Disclosure (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Operating Loss Carryforwards [Line Items] | ||||
Effective Income Tax Rate, Continuing Operations | (0.90%) | (0.90%) | (0.30%) | |
Operating Loss Carryforwards | $ 389,500 | |||
R&E tax credit carryforward for future use | 16,600 | |||
Unrecognized Tax Benefits | 14 | $ 14 | $ 183 | $ 183 |
Cameleon Acquistion [Member] | ||||
Operating Loss Carryforwards [Line Items] | ||||
Operating Loss Carryforwards | $ 50,300 |
Convertible debt (Details)
Convertible debt (Details) | 12 Months Ended | ||
Dec. 31, 2020USD ($)$ / shares | Dec. 31, 2019USD ($)shares | Dec. 31, 2018USD ($) | |
Debt Instrument [Line Items] | |||
Debt Instrument, Periodic Payment, Interest | $ 2,422,000 | $ 3,691,000 | $ 5,000,000 |
Amortization of Financing Costs | 733,000 | 1,157,000 | 1,419,000 |
Payment for Debt Extinguishment or Debt Prepayment Cost | 0 | 97,678,000 | 0 |
Loss on Extinguishment of Debt | 0 | 5,660,000 | 0 |
Debt Instrument, Fair Value Disclosure | 363,800,000 | 163,200,000 | |
Debt Instrument, Face Amount | 293,750,000 | 143,750,000 | |
Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net | (75,722,000) | (33,046,000) | |
Convertible Debt | 218,028,000 | 110,704,000 | |
Purchase of capped call | 25,335,000 | 16,445,000 | 0 |
Proceeds from bond hedge termination | 0 | 64,819,000 | 0 |
Payment for warrant termination | 0 | 45,243,000 | 0 |
Debt Instrument, Convertible, Carrying Amount of Equity Component | 80,098,000 | 32,883,000 | |
Amortization of Debt Discount (Premium) | 7,970,000 | 9,917,000 | 10,567,000 |
Interest Expense, Debt | 11,125,000 | $ 14,765,000 | $ 16,986,000 |
Stock Repurchased During Period, Shares | shares | 300,000 | ||
Notes due 2019 [Member] | |||
Debt Instrument [Line Items] | |||
Extinguishment of Debt, Amount | $ 122,100,000 | ||
Payment for Debt Extinguishment or Debt Prepayment Cost | $ 76,000,000 | ||
Stock Issued During Period, Shares, Conversion of Convertible Securities | shares | 2,200,000 | ||
Loss on Extinguishment of Debt | $ 2,300,000 | ||
Stock Issued During Period, Shares, Issuance at Maturity | shares | 300,000 | ||
Debt Instrument, Face Amount | 143,800,000 | ||
Purchase of capped call | (29,400,000) | ||
Proceeds from Issuance of Warrants | $ 17,100,000 | ||
Debt Instrument, Convertible, Conversion Ratio | 29.5972 | ||
Debt Instrument, Convertible, Stock Price Trigger | $ / shares | $ 33.79 | ||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares | $ 45.48 | ||
Notes due 2047 [Member] | |||
Debt Instrument [Line Items] | |||
Conversion of Stock, Shares Issued | shares | 2,300,000 | ||
Loss on Extinguishment of Debt | $ 3,400,000 | ||
Debt Instrument, Face Amount | 106,300,000 | ||
Debt Instrument, Convertible, Conversion Ratio | 20.5624 | ||
Debt Instrument, Convertible, Stock Price Trigger | $ / shares | $ 48.63 | ||
Debt instrument, Convertible, Initial issue price per $1,000 of principal | $ 880 | ||
Notes due 2024 [Member] | |||
Debt Instrument [Line Items] | |||
Convertible debt, issuance cost, equity component | $ 1,100,000 | ||
Debt Instrument, Convertible, Remaining Discount Amortization Period | 40 months | ||
Debt Instrument, Face Amount | $ 143,800,000 | ||
Debt Instrument, Interest Rate, Stated Percentage | 1.00% | ||
Debt Instrument, Interest Rate, Effective Percentage | 6.60% | ||
Debt Instrument, Convertible, Conversion Ratio | 15.1394 | ||
Debt Instrument, Convertible, Stock Price Trigger | $ / shares | $ 66.05 | ||
Debt Issuance Cost | $ 3,400,000 | ||
Debt Instrument, Convertible, Carrying Amount of Equity Component | $ 32,900,000 | $ 32,900,000 | |
Debt Instrument, Convertible, Conversion Price | $ / shares | $ 101.62 | ||
Notes due 2027 [Member] | |||
Debt Instrument [Line Items] | |||
Convertible debt, issuance cost, equity component | $ 1,300,000 | ||
Debt Instrument, Convertible, Remaining Discount Amortization Period | 80 months | ||
Debt Instrument, Face Amount | $ 150,000,000 | ||
Debt Instrument, Interest Rate, Stated Percentage | 2.25% | ||
Debt Instrument, Interest Rate, Effective Percentage | 8.50% | ||
Debt Instrument, Convertible, Conversion Ratio | 23.9137 | ||
Debt Instrument, Convertible, Stock Price Trigger | $ / shares | $ 41.82 | ||
Debt Issuance Cost | $ 2,800,000 | ||
Debt Instrument, Convertible, Carrying Amount of Equity Component | $ 47,200,000 | ||
Debt Instrument, Convertible, Conversion Price | $ / shares | $ 78.90 |
Credit Facility (Details)
Credit Facility (Details) $ in Millions | Dec. 31, 2020USD ($) |
Line of Credit Facility [Line Items] | |
Debt Instrument, Face Amount | $ 50 |
Debt Instrument, Covenant, Minimum Liquidity | 50 |
Unamortized Debt Issuance Expense | $ 0.1 |
Minimum [Member] | LIBOR Rate [Member] | |
Line of Credit Facility [Line Items] | |
Debt Instrument, Interest Rate, Stated Percentage | 1.50% |
Minimum [Member] | Federal Funds Rate [Member] | |
Line of Credit Facility [Line Items] | |
Debt Instrument, Interest Rate, Stated Percentage | 1.50% |
Maximum [Member] | LIBOR Rate [Member] | |
Line of Credit Facility [Line Items] | |
Debt Instrument, Interest Rate, Stated Percentage | 2.25% |
Maximum [Member] | Federal Funds Rate [Member] | |
Line of Credit Facility [Line Items] | |
Debt Instrument, Interest Rate, Stated Percentage | 2.25% |
Commitments and Contingencies (
Commitments and Contingencies (Details) $ in Millions | Dec. 31, 2020USD ($) |
Long-term Purchase Commitment [Line Items] | |
Purchase Obligation | $ 37.6 |
Contractual Obligation | $ 1.6 |
Segment and Geographical Info_3
Segment and Geographical Information International Revenue (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2020 | Sep. 30, 2020 | Jun. 30, 2020 | Mar. 31, 2020 | Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Revenues from External Customers and Long-Lived Assets [Line Items] | |||||||||||
International revenue | $ 170,100 | $ 164,400 | $ 128,500 | ||||||||
Total Revenue | $ 60,858 | $ 61,508 | $ 63,747 | $ 66,311 | $ 66,175 | $ 64,150 | $ 63,878 | $ 56,131 | $ 252,424 | $ 250,334 | $ 197,024 |
percentage of total revenue | 100.00% | 100.00% | 100.00% | ||||||||
International Revenue [Member] | |||||||||||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||||||||||
percentage of total revenue | 67.00% | 66.00% | 65.00% | ||||||||
UNITED STATES | |||||||||||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||||||||||
Total Revenue | $ 82,299 | $ 85,963 | $ 68,482 | ||||||||
percentage of total revenue | 32.00% | 34.00% | 35.00% | ||||||||
South America and Canada [Member] | |||||||||||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||||||||||
Total Revenue | $ 25,123 | $ 29,129 | $ 18,378 | ||||||||
percentage of total revenue | 10.00% | 12.00% | 9.00% | ||||||||
North and South America [Member] | |||||||||||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||||||||||
Total Revenue | $ 107,422 | $ 115,092 | $ 86,860 | ||||||||
percentage of total revenue | 42.00% | 46.00% | 44.00% | ||||||||
GERMANY | |||||||||||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||||||||||
Total Revenue | $ 21,587 | $ 18,526 | $ 20,171 | ||||||||
percentage of total revenue | 9.00% | 7.00% | 10.00% | ||||||||
The Rest of Europe [Member] | |||||||||||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||||||||||
Total Revenue | $ 53,349 | $ 55,388 | $ 40,776 | ||||||||
percentage of total revenue | 21.00% | 22.00% | 21.00% | ||||||||
Pacific [Member] | |||||||||||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||||||||||
Total Revenue | $ 47,416 | $ 43,908 | $ 32,090 | ||||||||
percentage of total revenue | 19.00% | 18.00% | 16.00% | ||||||||
Middle East [Member] | |||||||||||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||||||||||
Total Revenue | $ 21,825 | $ 16,170 | $ 15,092 | ||||||||
percentage of total revenue | 9.00% | 6.00% | 8.00% | ||||||||
Africa [Member] | |||||||||||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||||||||||
Total Revenue | $ 825 | $ 1,250 | $ 2,035 | ||||||||
percentage of total revenue | 0.00% | 0.00% | 1.00% |
Concentrations of Risk (Details
Concentrations of Risk (Details) | 12 Months Ended |
Dec. 31, 2020 | |
Revenue Benchmark [Member] | |
Concentration Risk [Line Items] | |
Concentration Risk, Percentage | 10.00% |
Accounts Receivable [Member] | |
Concentration Risk [Line Items] | |
Concentration Risk, Percentage | 10.00% |
Employment Retirement Savings (
Employment Retirement Savings (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Retirement Benefits [Abstract] | |||
Defined Benefit Plan, Plan Assets, Contributions by Employer | $ 4.3 | $ 2.5 | $ 2.4 |
Matching Percentage of Salary Contribution by Qualified Employees | 50.00% | 50.00% | |
Qualified Employees Contribution Matching Percentage by the Employer | 8.00% | 6.00% |
Quarterly Results Quarterly F_2
Quarterly Results Quarterly Financial Data (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2020 | Sep. 30, 2020 | Jun. 30, 2020 | Mar. 31, 2020 | Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Quarterly Financial Information Disclosure [Abstract] | |||||||||||
Total Revenue | $ 60,858 | $ 61,508 | $ 63,747 | $ 66,311 | $ 66,175 | $ 64,150 | $ 63,878 | $ 56,131 | $ 252,424 | $ 250,334 | $ 197,024 |
Gross Profit | 35,539 | 36,871 | 37,797 | 37,584 | 37,814 | 37,767 | 40,295 | 35,341 | 147,791 | 151,217 | 119,845 |
Operating Income (Loss) | (13,426) | (16,163) | (15,139) | (21,352) | (15,071) | (12,512) | (12,145) | (13,610) | (66,080) | (53,338) | (49,215) |
Net Income (Loss) Attributable to Parent | $ (18,184) | $ (18,857) | $ (17,208) | $ (22,735) | $ (17,300) | $ (17,347) | $ (17,517) | $ (16,917) | $ (76,984) | $ (69,081) | $ (64,246) |
Basic earnings per share | $ (0.42) | $ (0.44) | $ (0.40) | $ (0.53) | $ (0.41) | $ (0.42) | $ (0.44) | $ (0.45) | $ (1.78) | $ (1.72) | $ (1.86) |
Diluted | $ (0.42) | $ (0.44) | $ (0.40) | $ (0.53) | $ (0.41) | $ (0.42) | $ (0.44) | $ (0.45) | $ (1.78) | $ (1.72) | $ (1.86) |
Schedule II - Valuation and Q_2
Schedule II - Valuation and Qualifying Accounts (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | ||
SEC Schedule, 12-09, Allowance, Credit Loss [Member] | ||||
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward] | ||||
SEC Schedule, 12-09, Valuation Allowances and Reserves, Amount | $ 214 | $ 978 | $ 760 | |
Valuation Allowances and Reserves, Charged to Cost and Expense | 5,870 | 0 | 223 | |
SEC Schedule, 12-09, Valuation Allowances and Reserves, Deduction | [1] | (1,962) | (760) | 0 |
Valuation Allowances and Reserves, Charged to Other Accounts | 0 | (4) | (5) | |
SEC Schedule, 12-09, Valuation Allowances and Reserves, Amount | 4,122 | 214 | 978 | |
SEC Schedule, 12-09, Valuation Allowance, Deferred Tax Asset [Member] | ||||
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward] | ||||
SEC Schedule, 12-09, Valuation Allowances and Reserves, Amount | 106,476 | 94,231 | 74,153 | |
Valuation Allowances and Reserves, Charged to Cost and Expense | 24,375 | 12,404 | 20,417 | |
SEC Schedule, 12-09, Valuation Allowances and Reserves, Deduction | 0 | 0 | 0 | |
Valuation Allowances and Reserves, Charged to Other Accounts | [2] | (118) | (159) | (339) |
SEC Schedule, 12-09, Valuation Allowances and Reserves, Amount | $ 130,733 | $ 106,476 | $ 94,231 | |
[1] | Deductions column represents the reversal of additions previously charged to costs and expenses and uncollectible accounts written off, net of recoveries. | |||
[2] | Other column represents the cumulative translation adjustment impact on the allowance. |