Cornerstone OnDemand (CSOD) 10-Q5 Nov 202020 Q3 Quarterly reportFinancial data

Company Profile

COVER PAGE

COVER PAGE - shares	9 Months Ended
COVER PAGE - shares	Sep. 30, 2020	Oct. 30, 2020
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2020
Document Transition Report	false
Entity File Number	001-35098
Entity Registrant Name	Cornerstone OnDemand, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	13-4068197
Entity Address, Address Line One	1601 Cloverfield Blvd.
Entity Address, Address Line Two	Suite 620 South
Entity Address, City or Town	Santa Monica
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	90404
City Area Code	(310)
Local Phone Number	752-0200
Title of 12(b) Security	Common Stock, par value $0.0001 per share
Trading Symbol	CSOD
Security Exchange Name	NASDAQ
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 Common Stock, Shares Outstanding		64,602,956
Amendment Flag	false
Entity Central Index Key	0001401680
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q3
Current Fiscal Year End Date	--12-31

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 170,937	$ 215,907
Short-term investments	0	201,579
Accounts receivable, net	156,738	131,105
Deferred commissions, current portion	38,874	33,215
Prepaid expenses and other current assets	30,577	30,512
Total current assets	397,126	612,318
Capitalized software development costs, net	51,683	50,023
Property and equipment, net	33,892	36,526
Operating right-of-use assets	78,874	72,944
Deferred commissions, net of current portion	76,621	74,563
Long-term investments	9,043	60,192
Intangible assets, net	458,006	9,440
Goodwill	960,420	47,453
Deferred tax assets	2,928	1,045
Other assets	10,843	1,597
Total assets	2,079,436	966,101
Current liabilities:
Accounts payable	9,165	3,803
Accrued expenses	90,665	78,075
Deferred revenue, current portion	370,494	339,522
Operating lease liabilities, current portion	17,230	7,235
Debt, current portion	10,047	0
Other liabilities	15,696	11,015
Total current liabilities	513,297	439,650
Debt, net of current portion	1,224,646	293,174
Deferred revenue, net of current portion	4,150	6,945
Operating lease liabilities, net of current portion	68,929	67,195
Deferred tax liabilities	17,396	0
Other liabilities, non-current	6,267	655
Total liabilities	1,834,685	807,619
Commitments and contingencies (Note 13)
Stockholders’ equity:
Common stock, $0.0001 par value	6	6
Additional paid-in capital	808,592	682,717
Accumulated deficit	(566,223)	(524,680)
Accumulated other comprehensive income	2,376	439
Total stockholders’ equity	244,751	158,482
Total liabilities and stockholders’ equity	$ 2,079,436	$ 966,101

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Sep. 30, 2020	Dec. 31, 2019
Statement of Financial Position [Abstract]
Common stock, par value (USD per share)	$ 0.0001	$ 0.0001

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Income Statement [Abstract]
Revenue	$ 199,498	$ 144,952	$ 533,992	$ 426,929
Cost of revenue	64,503	37,167	164,427	111,049
Gross profit	134,995	107,785	369,565	315,880
Operating expenses:
Sales and marketing	71,850	57,815	192,122	171,011
Research and development	29,665	25,695	82,088	77,778
General and administrative	28,884	20,562	79,229	65,741
Acquisition-related costs	4,852	0	31,756	0
Restructuring	1,362	0	11,095	0
Total operating expenses	136,613	104,072	396,290	314,530
(Loss) income from operations	(1,618)	3,713	(26,725)	1,350
Other expense:
Interest expense	(19,609)	(3,321)	(43,329)	(9,889)
Other, net	5,817	(1,018)	(61)	(2,720)
Other expense, net	(13,792)	(4,339)	(43,390)	(12,609)
Loss before income tax provision	(15,410)	(626)	(70,115)	(11,259)
Income tax (provision) benefit	(371)	(591)	28,572	(2,227)
Net loss	$ (15,781)	$ (1,217)	$ (41,543)	$ (13,486)
Net loss per share, basic and diluted (USD per share)	$ (0.25)	$ (0.02)	$ (0.66)	$ (0.23)
Weighted average common shares outstanding, basic and diluted (in shares)	64,375	60,652	63,204	59,841

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Statement of Comprehensive Income [Abstract]
Net loss	$ (15,781)	$ (1,217)	$ (41,543)	$ (13,486)
Other comprehensive (loss) income, net of tax:
Foreign currency translation adjustment	(1,450)	1,198	2,160	2,389
Net change in unrealized gains (losses) on investments	0	167	(223)	352
Other comprehensive (loss) income, net of tax	(1,450)	1,365	1,937	2,741
Total comprehensive (loss) income	$ (17,231)	$ 148	$ (39,606)	$ (10,745)

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-In Capital	Accumulated Deficit	Accumulated Other Comprehensive Income
Beginning balance (in shares) at Dec. 31, 2018		58,886,000
Beginning balance at Dec. 31, 2018	$ 65,243	$ 6	$ 585,387	$ (520,626)	$ 476
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock upon the exercise of options (in shares)		744,000
Issuance of common stock upon the exercise of options	26,973		26,973
Vesting of restricted stock units (in shares)		1,260,000
Vesting of restricted stock units	0
Shares issued under employee stock purchase plan (in shares)		90,000
Shares issued under employee stock purchase plan	3,927		3,927
Repurchase of common stock (in shares)		(254,000)
Repurchase of common stock	(13,530)		(13,530)
Stock-based compensation	59,141		59,141
Net loss	(13,486)			(13,486)
Other comprehensive income, net of tax	2,741				2,741
Ending balance (in shares) at Sep. 30, 2019		60,726,000
Ending balance at Sep. 30, 2019	131,009	$ 6	661,898	(534,112)	3,217
Beginning balance (in shares) at Jun. 30, 2019		59,977,000
Beginning balance at Jun. 30, 2019	106,733	$ 6	637,770	(532,895)	1,852
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock upon the exercise of options (in shares)		474,000
Issuance of common stock upon the exercise of options	16,826		16,826
Vesting of restricted stock units (in shares)		529,000
Vesting of restricted stock units	0
Repurchase of common stock (in shares)		(254,000)
Repurchase of common stock	(13,530)		(13,530)
Stock-based compensation	20,832		20,832
Net loss	(1,217)			(1,217)
Other comprehensive income, net of tax	1,365				1,365
Ending balance (in shares) at Sep. 30, 2019		60,726,000
Ending balance at Sep. 30, 2019	131,009	$ 6	661,898	(534,112)	3,217
Beginning balance (in shares) at Dec. 31, 2019		61,038,000
Beginning balance at Dec. 31, 2019	$ 158,482	$ 6	682,717	(524,680)	439
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock upon the exercise of options (in shares)	774,000	774,000
Issuance of common stock upon the exercise of options	$ 9,354		9,354
Vesting of restricted stock units (in shares)		1,502,000
Vesting of restricted stock units	0
Shares issued under employee stock purchase plan (in shares)		130,000
Shares issued under employee stock purchase plan	4,370		4,370
Stock-based compensation	60,664		60,664
Common stock issued in acquisition (in shares)		1,110,000
Common stock issued in acquisition	32,889		32,889
Modification of Convertible Notes	18,598		18,598
Net loss	(41,543)			(41,543)
Other comprehensive income, net of tax	1,937				1,937
Ending balance (in shares) at Sep. 30, 2020		64,554,000
Ending balance at Sep. 30, 2020	244,751	$ 6	808,592	(566,223)	2,376
Beginning balance (in shares) at Jun. 30, 2020		64,060,000
Beginning balance at Jun. 30, 2020	241,540	$ 6	788,150	(550,442)	3,826
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock upon the exercise of options (in shares)		70,000
Issuance of common stock upon the exercise of options	1,166		1,166
Vesting of restricted stock units (in shares)		424,000
Vesting of restricted stock units	0
Stock-based compensation	19,276		19,276
Net loss	(15,781)			(15,781)
Other comprehensive income, net of tax	(1,450)				(1,450)
Ending balance (in shares) at Sep. 30, 2020		64,554,000
Ending balance at Sep. 30, 2020	$ 244,751	$ 6	$ 808,592	$ (566,223)	$ 2,376

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Cash flows from operating activities
Net loss	$ (41,543)	$ (13,486)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	80,190	30,848
Accretion of debt discount and amortization of debt issuance costs	7,502	3,130
Amortization (accretion) of purchased investment premium or discount, net	41	(900)
Net foreign currency and other loss	4,063	2,504
Stock-based compensation expense	55,197	55,714
Deferred income taxes	(32,081)	0
Changes in operating assets and liabilities, net of acquisitions:
Accounts receivable	32,243	23,900
Deferred commissions	(8,715)	(14,130)
Prepaid expenses and other assets	14,302	12,589
Accounts payable	(6,852)	(6,040)
Accrued expenses	(4,545)	(5,563)
Deferred revenue	(43,349)	(39,048)
Other liabilities	5,456	3,437
Net cash provided by operating activities	61,909	52,955
Cash flows from investing activities
Purchases of marketable investments	(20,419)	(201,981)
Maturities and sales of investments	272,173	206,040
Capital expenditures	(2,910)	(15,987)
Capitalized software costs	(20,296)	(18,835)
Cash paid for acquisitions, net of cash acquired	(1,295,508)	0
Net cash used in investing activities	(1,066,960)	(30,763)
Cash flows from financing activities
Proceeds from term loan debt, net of discount	979,582	0
Payments of debt issuance and modification costs	(30,429)	0
Proceeds from employee stock plans	15,953	33,072
Payment of tax withholdings for employee stock plans	0	(5,469)
Repurchases of common stock	0	(13,530)
Net cash provided by financing activities	965,106	14,073
Effect of exchange rate changes on cash, cash equivalents, and restricted cash	3	(1,123)
Net (decrease) increase in cash, cash equivalents, and restricted cash	(39,942)	35,142
Cash, cash equivalents, and restricted cash at beginning of period	215,907	183,596
Cash, cash equivalents, and restricted cash at end of period	175,965	218,738
Supplemental cash flow data
Cash paid for interest	38,873	17,356
Cash paid for income taxes	3,725	1,488
Non-cash investing and financing activities:
Assets acquired under capital leases and other financing arrangements	0	1,276
Capitalized assets financed by accounts payable and accrued expenses	56	1,205
Capitalized stock-based compensation	5,467	3,427
Issuance of common stock for partial consideration for acquisition	32,889	0
Increase in debt discount as a result of modification of Convertible Notes	18,598	0
Reconciliation of cash, cash equivalents, and restricted cash
Total cash, cash equivalents, and restricted cash	$ 175,965	$ 218,738

ORGANIZATION AND SUMMARY OF SIG

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	Sep. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Company Overview Cornerstone OnDemand, Inc. (“Cornerstone” or the “Company”) is a leading global provider of people development solutions, delivered as software-as-a-service (“SaaS”). The Company helps organizations around the globe recruit, train, and manage their employees. The Company’s solution combines the world’s leading unified talent management solutions with state-of-the-art analytics and HR administration solutions to enable organizations to manage the entire employee lifecycle. Its focus on continuous learning and development helps organizations empower employees to realize their potential and drive success. On April 22, 2020, the Company acquired Saba Software, Inc. (“Saba”), a provider of talent experience solutions. The Company works with customers across all geographies, vertical markets, and market segments. Its Learning, Performance, Recruiting, and HR administration solutions help with sourcing, recruiting, and onboarding new hires; managing training and development requirements; nurturing knowledge sharing and collaboration among employees; goal setting, reviews, competency management, and continuous feedback; linking compensation to performance; identifying development plans based on performance gaps; streamlining employee data management, self-service, and compliance reporting; and then utilizing state-of-the-art analytics capabilities to make smarter, more-informed decisions using data from across the solution for talent mobility, engagement, and development so that HR and leadership can focus on strategic initiatives to help their organizations succeed. The Company’s management has determined that the Company operates in one segment as it only reports financial information on an aggregated and consolidated basis to the Company’s chief executive officer, who is the Company’s chief operating decision maker. Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared on the same basis as the Company’s annual consolidated financial statements. These unaudited condensed financial statements are presented in accordance with (i) accounting standards generally accepted in the United States of America (“GAAP”) for interim financial information and (ii) the instructions to Form 10-Q and Article 10 of Regulation S-X. Certain information and note disclosures normally included in the annual consolidated financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. In the opinion of management, the financial statements include all adjustments (consisting of normal recurring adjustments) necessary for the fair presentation of the interim periods presented. Results of operations for the three and nine months ended September 30, 2020 are not necessarily indicative of the results that may be expected for the year ending December 31, 2020, for any other interim period, or for any other future year. Certain prior period balances have been reclassified to conform to the current period presentation. Recently Adopted Accounting Pronouncements Effective January 1, 2020, the Company adopted the requirements of Accounting Standards Update No. 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments (“ASU 2016-13”), using a modified retrospective method of adoption. All amounts and disclosures set forth in this Quarterly Report on Form 10-Q have been updated to comply with this new standard with results for reporting periods beginning after January 1, 2020 presented under ASU 2016-13, while prior period amounts and disclosures were not adjusted and continue to be reported under the accounting standards in effect for the prior periods. ASU 2016-13 replaces the incurred loss methodology with an expected loss methodology, referred to as current expected credit loss (“CECL”), for financial instruments, including accounts receivable. The cumulative effect of adopting ASU 2016-13 did not have a material impact on the Company’s accumulated deficit as of January 1, 2020. The Company’s expected loss allowance methodology for accounts receivable is developed using historical collection experience, current receivables aging, consideration of current conditions, and other relevant data. On January 1, 2020, the Company adopted the requirements of Accounting Standards Update No. 2018-15, Intangibles—Goodwill and Other—Internal-Use Software: Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement (“ASU 2018-15”), using a prospective method of adoption. ASU 2018-15 aligns the accounting for implementation costs incurred in a hosting arrangement that is a service contract with the accounting for implementation costs incurred to develop or obtain internal-use software under ASC 350-40, in order to determine which costs to capitalize and recognize as an asset and which costs to expense. The adoption did not have a material impact on the Company’s condensed consolidated financial statements. Accounting Pronouncements Pending Adoption In December 2019, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update No. 2019-12, Simplifying the Accounting for Income Taxes (“ASU 2019-12”), which enhances and simplifies various aspects of the income tax accounting guidance. The guidance is effective for the Company in the first quarter of 2021, although early adoption is permitted. The Company is currently evaluating the impact of the adoption of ASU 2019-12 on its consolidated financial statements. Summary of Significant Accounting Policies

BUSINESS COMBINATIONS

BUSINESS COMBINATIONS	9 Months Ended
BUSINESS COMBINATIONS	Sep. 30, 2020
Business Combinations [Abstract]
BUSINESS COMBINATIONS	BUSINESS COMBINATIONS Saba On April 22, 2020, the Company acquired 100% of the equity interests of the direct and indirect subsidiaries of Vector Talent Holdings, L.P., including Saba Software, Inc. (such subsidiaries, collectively, “Saba”), to expand its cloud-based learning, talent management, and talent experience software offerings. The Company acquired Saba for an aggregate purchase price of $1.310 billion, consisting of $1.277 billion in cash (net of cash acquired) and 1,110,352 shares of the Company's common stock with an aggregate value of $32.9 million. The acquisition was financed with a combination of cash on hand and proceeds from new borrowings (refer to Note 3 – Debt for further details). Under the terms of the purchase agreement, the final consideration is subject to certain adjustments based on a determination of closing net working capital and net indebtedness (as defined in the purchase agreement). The purchase consideration was allocated to the tangible and intangible assets acquired and liabilities assumed based on their estimated fair values as of the acquisition date with the excess recorded as goodwill, none of which is expected to be deductible for tax purposes. The goodwill is primarily attributable to the acquired workforce and synergies expected to arise after the acquisition, including future technologies and customers of the combined business. The final allocation of purchase consideration to assets and liabilities remains in process as the Company continues to evaluate certain balances, estimates, and assumptions during the measurement period (up to one year from the acquisition date). The results of operations and the provisional fair values of the assets acquired and liabilities assumed have been included in the condensed consolidated financial statements as of the date of acquisition. During the three and nine months ended September 30, 2020, Saba contributed approximately $47 million and $76 million to revenue, respectively. The following table summarizes the preliminary fair value of assets acquired and liabilities assumed as a result of the acquisition of Saba, as adjusted in the third quarter of 2020 (in thousands): Preliminary Fair Value at Acquisition Date Measurement Period Adjustments 1 Adjusted Fair Value at Acquisition Date Cash and cash equivalents $ 49,471 $ 49,471 Accounts receivable 58,764 58,764 Prepaid expenses and other current assets 13,020 13,020 Property and equipment 9,446 9,446 Operating right-of-use assets 16,700 16,700 Intangible assets 481,000 481,000 Goodwill 905,498 (2,694) 902,804 Other assets 2,698 1,122 3,820 Total assets 1,536,597 (1,572) 1,535,025 Accounts payable and accrued expenses 28,978 28,978 Deferred revenue 69,940 1,092 71,032 Operating lease liabilities 16,532 16,532 Deferred tax liabilities, net 46,472 46,472 Other liabilities 12,782 12,782 Total liabilities 174,704 1,092 175,796 Total purchase consideration $ 1,361,893 $ (2,664) $ 1,359,229 1 The Company received approximately $2.7 million from escrow and made other revisions to certain acquired balances during the three months ended September 30, 2020. Identifiable Intangible Assets The following table provides the preliminary valuation of the Saba intangible assets, along with their estimated useful lives: Estimated Fair Value Estimated Useful Life Customer relationships $ 294,800 11 Customer contracts 58,500 2 Developed technology 120,500 3 – 5 Trade names, trademarks, and domain names 7,200 3 Total $ 481,000 The identifiable intangible assets are amortized on a straight-line basis over their respective estimated useful lives to sales and marketing for customer-related intangible assets, cost of revenue for developed technology intangible assets, and general and administrative expense for all other intangible assets. Management applied significant judgment in determining the fair value of intangible assets, which involved the use of estimates and assumptions with respect to estimated future subscription revenue and related profit margins, costs anticipated to fulfill remaining acquired performance obligations and related profit margins, customer retention rates, technology migration curves, royalty rates, discount rates, and economic lives assigned to acquired intangible assets. Unaudited Pro Forma Financial Information The following table presents the unaudited pro forma results for the three and nine months ended September 30, 2020 and 2019. The unaudited pro forma financial information combines the results of operations of Cornerstone OnDemand and Saba as though the companies had been combined as of January 1, 2019. The pro forma information is presented for informational purposes only and is not indicative of the results of operations that would have been achieved if the acquisition had taken place at such time. The unaudited pro forma results presented below include adjustments for amortization of identifiable intangible assets, interest expense related to debt financing, and related tax effects (in thousands): Three Months Ended Nine Months Ended September 30, September 30, 2020 2019 2020 2019 Revenue $ 199,498 $ 209,465 $ 639,036 $ 618,765 Net loss (10,776) (20,641) (95,625) (79,164) Clustree On January 24, 2020, the Company purchased all of the outstanding shares of Clustree SAS (“Clustree”), a developer of a skills engine and skills ontology. The Company paid cash consideration of approximately $18.6 million. The purchase consideration was allocated to the tangible and intangible assets acquired and liabilities assumed based on their estimated fair values as of the acquisition date with the excess recorded as goodwill, none of which is expected to be deductible for tax purposes. The goodwill generated from this transaction is primarily attributable to the ability to enhance the Company’s product portfolio. The final allocation of purchase consideration to certain assets and liabilities, primarily related to taxes and assumed liabilities, remains in process as the Company continues to evaluate certain estimates and assumptions during the measurement period (up to one year from the acquisition date). The Company's preliminary allocation of the total purchase consideration as of January 24, 2020 is summarized below: Fair Value Tangible assets $ 1,275 Intangible assets – developed technology 9,800 Intangible assets – customer relationships 800 Goodwill 8,875 Deferred tax liabilities (1,020) Accounts payable and accrued expenses (755) Deferred revenue (336) Net assets acquired $ 18,639 The intangible assets related to developed technology and customer relationships are amortized on a straight-line basis over three years to cost of revenue and two years to sales and marketing expense, respectively. Pro forma results of operations related to the acquisition of Clustree have not been presented as the impact of the acquisition is not material to the Company’s financial results. Acquisition-related costs Acquisition-related costs for both Saba and Clustree primarily consisted of external fees for advisory, legal, and other professional services, and totaled approximately $4.9 million and $31.8 million, for the three and nine months ended September 30, 2020, respectively. These costs were expensed as incurred and recorded in acquisition-related costs in the condensed consolidated statements of operations.

DEBT

DEBT	9 Months Ended
DEBT	Sep. 30, 2020
Debt Disclosure [Abstract]
DEBT	DEBT Term Loan B and Revolving Credit Facility On April 22, 2020, the Company entered into a credit agreement (the “Credit Agreement”) with Morgan Stanley Senior Funding, Inc., as administrative agent and collateral agent (“Agent”), which provided for a seven-year senior secured term loan B facility (the “Term Loan Facility”) in an aggregate principal amount of $1.0047 billion for a purchase price equal to 97.5% of the aggregate principal amount after original issue discount. Principal payments are due quarterly, beginning in the fourth quarter of 2020, at a rate of 0.25% of the principal amount; the remaining outstanding principal balance is due in April 2027. In addition, the Company entered into a five-year senior secured revolving credit facility (the “Revolving Credit Facility”) in an aggregate principal amount of up to $150.0 million, of which $50.0 million remained available at September 30, 2020. The available borrowings under the Revolving Credit Facility are limited by indebtedness covenants with the holders of the Convertible Notes (as defined below) and drawn letters of credit issued under the Credit Agreement. The Revolving Credit Facility includes a letter of credit sub-facility of up to $30.0 million. Borrowings under the Credit Agreement bear interest at a rate per annum equal to LIBOR for an interest period of one month, plus an applicable margin of 4.25%, with a 0.00% LIBOR floor. Interest is payable on a monthly or quarterly basis at the Company’s option. The net carrying amounts of the components of the Term Loan Facility consist of the following (in thousands): September 30, 2020 Principal amount $ 1,004,700 Unamortized debt discount (23,971) Unamortized debt issuance costs (22,237) Net carrying value $ 958,492 The effective interest rate is 5.3% for the Term Loan Facility as of September 30, 2020. The following table presents the interest expense recognized related to the Term Loan Facility (in thousands): Three Months Ended Nine Months Ended September 30, 2020 Contractual interest expense $ 12,061 $ 22,359 Accretion of debt discount 447 1,146 Amortization of debt issuance costs 425 1,088 Total $ 12,933 $ 24,593 Undrawn amounts under the Revolving Credit Facility accrue a commitment fee at an initial per annum rate of 0.50% subject to certain adjustments, beginning July 1, 2020. In addition to the unused commitment fee, the Company is required to pay certain letter of credit and related fronting fees and other administrative fees. The Company did not draw any amounts under the Revolving Credit Facility as of September 30, 2020. The Term Loan Facility, Revolving Credit Facility, and Convertible Notes (as discussed below) contain customary covenants that, among other things, restrict the Company’s ability to incur additional indebtedness, grant liens, make certain investments (including acquisitions), dispose of certain assets, and make certain payments (including share repurchases and dividends). As of September 30, 2020, the Company was in compliance with all financial covenants. Convertible Notes In 2017, the Company issued $300.0 million principal amount of 5.75% senior convertible notes (the “Convertible Notes”) for a purchase price equal to 98% of the principal amount. The Company received net proceeds of $284.8 million, net of a discount of $6.0 million and issuance costs of $9.2 million. The debt discount is being accreted to interest expense over the term of the Convertible Notes using the effective interest method. The issuance costs were deferred and are being amortized to interest expense over the term of the Convertible Notes using the effective interest method. Interest is payable semi-annually in arrears on January 1 and July 1, commencing January 1, 2018. The Convertible Notes are convertible at an initial conversion rate of 23.8095 shares of the Company’s common stock per $1,000 principal amount of the Convertible Notes, which represents an initial conversion price of $42.00 per share, subject to adjustment for anti-dilutive issuances, voluntary increases in the conversion rate, and make-whole adjustments upon a fundamental change. A fundamental change includes a change in control, delisting of the Company’s common stock, or a liquidation of the Company. Upon conversion, the Company will deliver the applicable number of the Company’s common stock and cash in lieu of any fractional shares. Holders of the Convertible Notes may convert their Convertible Notes at any time prior to the close of business on the scheduled trading day immediately preceding the maturity date. The holders of the Convertible Notes may require the Company to repurchase all or a portion of their Convertible Notes at a cash repurchase price equal to 100% of the principal amount of the notes being repurchased, plus the remaining scheduled interest through and including the maturity date, upon a fundamental change or event of default, including non-payment of interest or principal and other obligations. On April 20, 2020, the Company amended the indenture to the Convertible Notes with US Bank National Association, as trustee (the “Supplemental Indenture”). Upon the completion of the acquisition of Saba on April 22, 2020, the Supplemental Indenture became effective, which permitted the Company to incur additional indebtedness and extended the maturity date of the Convertible Notes from July 1, 2021 to March 17, 2023. In connection with this amendment, the Company paid approximately $3.4 million in consent and other fees to the holders of the Convertible Notes which were capitalized as debt issuance costs. As part of the amendment, the Company applied modification accounting as the criteria requiring extinguishment accounting were not met. As a result of the modification accounting, the fair value of the conversion feature increased by $18.6 million. This increase in fair value was recorded as a debt discount with a corresponding increase to additional paid-in capital. The Company will accrete the debt discount related to the conversion feature and amortize the debt issuance costs related to consent and other fees, including the previously unaccreted and unamortized amounts, to interest expense over the remaining term of the Convertible Notes. The net carrying amounts of the components of the Convertible Notes consist of the following (in thousands): September 30, 2020 December 31, 2019 Principal amount $ 300,000 $ 300,000 Unaccreted debt discount (17,930) (2,691) Unamortized debt issuance costs (5,869) (4,135) Net carrying value $ 276,201 $ 293,174 The effective interest rate is 9.9% for the Convertible Notes as of September 30, 2020. The following table presents the interest expense recognized related to the Convertible Notes (in thousands): Three Months Ended Nine Months Ended September 30, September 30, 2020 2019 2020 2019 Contractual interest expense $ 4,313 $ 4,313 $ 12,939 $ 12,939 Accretion of debt discount 1,428 418 3,358 1,233 Amortization of debt issuance costs 414 642 1,670 1,897 Total $ 6,155 $ 5,373 $ 17,967 $ 16,069

NET LOSS PER SHARE

NET LOSS PER SHARE	9 Months Ended
NET LOSS PER SHARE	Sep. 30, 2020
Earnings Per Share [Abstract]
NET LOSS PER SHARE	NET LOSS PER SHARE The following table presents the Company’s basic and diluted net loss per share (in thousands, except per share amounts): Three Months Ended Nine Months Ended September 30, September 30, 2020 2019 2020 2019 Net loss $ (15,781) $ (1,217) $ (41,543) $ (13,486) Net loss per share, basic and diluted $ (0.25) $ (0.02) $ (0.66) $ (0.23) Weighted-average shares of common stock outstanding, 64,375 60,652 63,204 59,841 The potential shares of common stock that would have a dilutive impact are computed using the treasury stock method or the if-converted method, as applicable. The following potential shares were excluded from the computation of diluted net loss per share because their effect would have been anti-dilutive (in thousands): September 30, 2020 2019 Options to purchase common stock, restricted stock units, and performance-based restricted stock units 8,091 9,146 Shares issuable pursuant to employee stock purchase plan 161 103 Convertible notes 7,143 7,143 Total shares excluded from net loss per share 15,395 16,392

CASH AND INVESTMENTS

CASH AND INVESTMENTS	9 Months Ended
CASH AND INVESTMENTS	Sep. 30, 2020
Investments, Debt and Equity Securities [Abstract]
CASH AND INVESTMENTS	CASH AND INVESTMENTS The Company’s investments in marketable and non-marketable securities are made pursuant to its investment policy, which has established guidelines relative to the diversification of the Company’s investments and their maturities, with the principal objective of capital preservation and maintaining liquidity that is sufficient to meet cash flow requirements. As of September 30, 2020, the Company did not have any marketable investments. The following is a summary of cash and marketable investments, including those that meet the definition of a cash equivalent, as of December 31, 2019 (in thousands): Amortized Cost Unrealized Gains Unrealized Losses Fair Value Cash $ 67,818 $ — $ — $ 67,818 Cash equivalents: Money market funds 126,075 — — 126,075 Corporate bonds 1,000 — — 1,000 Agency bonds 6,485 1 — 6,486 Commercial paper 9,609 — (1) 9,608 Certificates of deposit 171 — — 171 US treasury securities 4,749 — — 4,749 Total cash equivalents 148,089 1 (1) 148,089 Total cash and cash equivalents $ 215,907 $ 1 $ (1) $ 215,907 Short-term investments: Corporate bonds $ 103,130 $ 110 $ (7) $ 103,233 Agency bonds 3,966 2 — 3,968 US treasury securities 50,703 62 (1) 50,764 Commercial paper 23,827 1 — 23,828 Certificates of deposit 3,936 2 (1) 3,937 Asset-backed securities 15,837 12 — 15,849 Total short-term investments $ 201,399 $ 189 $ (9) $ 201,579 Long-term marketable investments: Corporate bonds $ 19,407 $ 12 $ (4) $ 19,415 US treasury securities 19,300 25 — 19,325 Asset-backed securities 11,693 10 (1) 11,702 Total long-term marketable investments $ 50,400 $ 47 $ (5) $ 50,442 Unrealized gains and losses on investments were immaterial individually and in aggregate as of September 30, 2020 and December 31, 2019. Realized gains and losses for sales of investments during the three and nine months ended September 30, 2020 and 2019 were immaterial. The Company’s long-term investments are composed of the following (in thousands): September 30, 2020 December 31, 2019 Long-term marketable investments $ — $ 50,442 Non-marketable investments 9,043 9,750 Total long-term investments $ 9,043 $ 60,192 The Company’s non-marketable investments are composed of the following (in thousands): September 30, 2020 December 31, 2019 Accounted for at cost, adjusted for observable price changes $ 1,750 $ 1,750 Accounted for using the equity method 7,293 8,000 Total non-marketable investments $ 9,043 $ 9,750

INTANGIBLE ASSETS AND GOODWILL

INTANGIBLE ASSETS AND GOODWILL	9 Months Ended
INTANGIBLE ASSETS AND GOODWILL	Sep. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
INTANGIBLE ASSETS AND GOODWILL	INTANGIBLE ASSETS AND GOODWILL Finite-lived Intangibles The Company has finite-lived intangible assets which are amortized over their estimated useful lives on a straight-line basis. The following table presents the gross carrying amount and accumulated amortization of finite-lived intangible assets (dollars in thousands): September 30, 2020 December 31, 2019 Weighted Average Useful Life Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Developed technology 2.9 $ 141,337 $ (22,144) $ 119,193 $ 39,984 $ (34,268) $ 5,716 Content library 3.6 4,700 (1,619) 3,081 4,700 (976) 3,724 Customer relationships 10.5 296,046 (12,125) 283,921 — — — Customer contracts 1.5 58,580 (12,921) 45,659 — — — Trade names, trademarks, and domain names 2.5 7,212 (1,060) 6,152 — — — Total $ 507,875 $ (49,869) $ 458,006 $ 44,684 $ (35,244) $ 9,440 During the first quarter of 2020, the gross carrying amount and accumulated amortization of fully amortized intangible assets were written off. Amortization of customer-related intangible assets is recorded in sales and marketing expense in the accompanying condensed consolidated statements of operations; amortization of developed technology and content library intangible assets is recorded in cost of revenue; amortization of all other finite-lived intangibles is recorded in general and administrative expense. Total amortization expense was $24.3 million and $1.0 million for the three months ended September 30, 2020 and 2019, respectively. Total amortization expense was $44.5 million and $3.3 million for the nine months ended September 30, 2020 and 2019 respectively. The following table presents the Company's estimate of remaining amortization expense for finite-lived intangible assets that existed as of September 30, 2020 (in thousands): 2020 - remaining period $ 24,176 2021 95,421 2022 72,331 2023 50,295 2024 42,238 Thereafter 173,545 Estimated remaining amortization expense $ 458,006 The Company evaluates the recoverability of its long-lived assets with finite useful lives, including intangible assets, for impairment whenever events or changes in circumstances indicate that the carrying amounts may not be recoverable. The Company does not believe an impairment trigger occurred which would impact the recoverability of the carrying values as of September 30, 2020. There were no impairment charges related to identifiable intangible assets for the three and nine months ended September 30, 2020 and 2019. Goodwill The following table presents the carrying amount of goodwill (in thousands): Balance as of December 31, 2019 $ 47,453 Goodwill resulting from acquisitions 914,373 Measurement period adjustments (2,694) Effect of foreign currency translation 1,288 Balance as of September 30, 2020 $ 960,420

RESTRUCTURING

RESTRUCTURING	9 Months Ended
RESTRUCTURING	Sep. 30, 2020
Restructuring and Related Activities [Abstract]
RESTRUCTURING	RESTRUCTURING On June 2, 2020, the Company announced workforce reductions as part of the Company’s integration plan with Saba to streamline the organization. The cost of these workforce reductions is primarily composed of severance payments and termination benefits. The actions are expected to be substantially complete by the fourth quarter of 2020. All liabilities for severance and related benefits are included in accrued expenses in the condensed consolidated balance sheets with certain cash payment obligations continuing into the first quarter of 2021. Activity for the Company's restructuring plan is as follows: Nine Months Ended September 30, 2020 (in thousands) Restructuring charges $ 10,695 Non-cash charges 400 Total restructuring expense $ 11,095 Restructuring liability balance as of December 31, 2019 $ — Restructuring charges 10,695 Cash payments (7,786) Effect of foreign currency translation 98 Restructuring liability balance as of September 30, 2020 $ 3,007

OTHER BALANCE SHEET AMOUNTS

OTHER BALANCE SHEET AMOUNTS	9 Months Ended
OTHER BALANCE SHEET AMOUNTS	Sep. 30, 2020
Balance Sheet Related Disclosures [Abstract]
OTHER BALANCE SHEET AMOUNTS	OTHER BALANCE SHEET AMOUNTS Property and Equipment, net The balance of property and equipment, net is as follows (in thousands): Useful Life September 30, 2020 December 31, 2019 Computer equipment and software 1 – 5 years $ 64,342 $ 57,482 Furniture and fixtures 3 – 7 years 6,898 6,096 Leasehold improvements 1 – 7 years 25,011 22,800 Total property and equipment 96,251 86,378 Less: accumulated depreciation and amortization (62,359) (49,852) Total property and equipment, net $ 33,892 $ 36,526 Depreciation expense was $5.4 million and $3.0 million for the three months ended September 30, 2020 and 2019 and $14.3 million and $8.7 million for the nine months ended September 30, 2020 and 2019, respectively. Accrued Expenses The balance of accrued expenses is as follows (in thousands): September 30, 2020 December 31, 2019 Accrued compensation $ 47,667 $ 33,626 Accrued commissions 13,329 18,834 Accrued interest 5,435 8,625 Other accrued expenses 24,234 16,990 Total accrued expenses $ 90,665 $ 78,075 Deferred Commissions The Company defers commissions paid to its sales force and related payroll taxes as these amounts are incremental costs of obtaining a contract with a customer and are recoverable from future revenue due to the non-cancelable customer agreements that gave rise to the commissions. Deferred commissions are then amortized over the related benefit period which has been determined to be six years for commissions for initial contracts. For the three months ended September 30, 2020 and 2019, the Company recognized $10.4 million and $10.4 million in commissions expense, respectively. For the nine months ended September 30, 2020 and 2019, the Company recognized $29.4 million and $27.8 million in commissions expense, respectively. These expenses were recorded in sales and marketing expense in the accompanying condensed consolidated statements of operations.

FAIR VALUE OF FINANCIAL INSTRUM

FAIR VALUE OF FINANCIAL INSTRUMENTS	9 Months Ended
FAIR VALUE OF FINANCIAL INSTRUMENTS	Sep. 30, 2020
Fair Value Disclosures [Abstract]
FAIR VALUE OF FINANCIAL INSTRUMENTS	FAIR VALUE OF FINANCIAL INSTRUMENTS Fair value represents the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal, or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs. Observable inputs are based on market data obtained from independent sources. The fair value hierarchy is based on the following three levels of inputs, of which the first two are considered observable and the last one is considered unobservable: • Level 1 – Quoted prices (unadjusted) in active markets for identical assets or liabilities that management has the ability to access at the measurement date. • Level 2 – Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. • Level 3 – Unobservable inputs Assets and liabilities measured at fair value on a recurring basis included the following (in thousands): September 30, 2020 December 31, 2019 Fair Value Level 1 Level 2 Level 3 Fair Value Level 1 Level 2 Level 3 Cash equivalents $ — $ — $ — $ — $ 148,089 $ 148,089 $ — $ — Corporate bonds — — — — 122,648 — 122,648 — Agency bonds — — — — 3,968 — 3,968 — US treasury securities — — — — 70,089 — 70,089 — Commercial paper — — — — 23,828 — 23,828 — Certificate of deposit — — — — 3,937 3,937 — — Asset-backed securities — — — — 27,551 — 27,551 — Foreign currency forward contracts 43 — 43 — — — — — Total $ 43 $ — $ 43 $ — $ 400,110 $ 152,026 $ 248,084 $ — At September 30, 2020, the Company had no cash equivalents measured at fair value on a recurring basis. At December 31, 2019, cash equivalents of $148.1 million consisted of money market funds with original maturity dates of three months or less backed by US Treasury bills, as well as corporate bonds, agency bonds, commercial paper, certificates of deposit, and US treasury securities. At September 30, 2020, foreign currency forward contracts were classified within Level 2 of the fair value hierarchy and were valued based on quoted foreign exchange rates. The aggregate notional value of these contracts outstanding at September 30, 2020 was $4.0 million. The forward contracts have a maturity of less than one year and are not used for speculative purposes. These forward contracts are to exchange US dollars for Canadian dollars and are used to manage the Company’s exposure to foreign exchange rate risk related to operating expenses incurred in Canadian dollars. The contracts are re-measured to fair value at the end of each reporting period and are not designated as hedging instruments under applicable accounting guidance; therefore, changes in fair value of these contracts are recorded in other, net in the condensed consolidated statements of operations. At December 31, 2019, corporate bonds, agency bonds, US treasury securities, commercial paper, and asset-backed securities were classified within Level 2 of the fair value hierarchy. The instruments were valued using information obtained from pricing services, which obtained quoted market prices from a variety of industry data providers, security master files from large financial institutions, and other third-party sources. The Company performed supplemental analysis to validate information obtained from its pricing services. As of December 31, 2019, no adjustments were made to such pricing information. Convertible Notes The Company’s Convertible Notes, as described in Note 3 – Debt , are presented in the accompanying condensed consolidated balance sheets at their original issuance value, net of unaccreted debt discount and unamortized debt issuance costs, and are not remeasured to fair value each period. The fair value of the Company’s Convertible Notes as of September 30, 2020 was approximately $360 million. The fair value of the Convertible Notes, which are classified as Level 2 financial instruments, was estimated on the basis of the current equity value implicit in the instrument.

STOCKHOLDERS_ EQUITY

STOCKHOLDERS’ EQUITY	9 Months Ended
STOCKHOLDERS’ EQUITY	Sep. 30, 2020
Equity [Abstract]
STOCKHOLDERS’ EQUITY	STOCKHOLDERS’ EQUITY Common Stock As of September 30, 2020 and December 31, 2019 there were 1,000,000,000 shares of common stock authorized. As of September 30, 2020 and December 31, 2019 there were 64,554,401 and 61,037,517 shares issued and outstanding, respectively. Share Repurchase Programs In August 2019, the Company’s board of directors authorized a $150.0 million share repurchase program of its common stock (the “2019 Share Repurchase Program”). The 2019 Share Repurchase Program is set to terminate when the aggregate cost of shares repurchased under the 2019 Share Repurchase Program reaches $150.0 million. Share repurchases may be executed through various means, including, without limitation, open market transactions, privately negotiated transactions, or otherwise. The timing and amount of any share repurchase will depend on share price, corporate and regulatory requirements, economic and market conditions, and other factors. At October 1, 2020, $127.6 million remained available for repurchase of shares under the 2019 Share Repurchase Program. There were no share repurchases under the 2019 Share Repurchase Program during the three and nine months ended September 30, 2020.

STOCK-BASED AWARDS

STOCK-BASED AWARDS	9 Months Ended
STOCK-BASED AWARDS	Sep. 30, 2020
Share-based Payment Arrangement [Abstract]
STOCK-BASED AWARDS	STOCK-BASED AWARDS Stock Options Stock option activity is summarized as follows (in thousands, except per share and term information): Number of Shares Weighted- Weighted- Aggregate Intrinsic Value 1 Outstanding, December 31, 2019 2,851 $ 30.97 3.1 $ 78,580 Exercised (774) 12.09 Forfeited (174) 42.43 Outstanding, September 30, 2020 1,903 $ 37.62 2.9 $ 9,347 Exercisable at September 30, 2020 1,903 $ 37.62 2.9 $ 9,347 Vested and expected to vest at September 30, 2020 1,903 $ 37.62 2.9 $ 9,347 1 Based on the Company’s closing stock price of $36.36 on September 30, 2020 and $58.55 on December 31, 2019. There were no stock options granted during the three and nine months ended September 30, 2020 and 2019. Restricted Stock Units Restricted stock unit (“RSU”) activity is summarized as follows (shares in thousands): Number of Shares Weighted- Unvested shares at December 31, 2019 3,756 $ 47.76 Granted 2,019 34.39 Forfeited (296) 46.69 Vested (1,502) 43.44 Unvested shares at September 30, 2020 3,977 $ 42.68 Unrecognized compensation expense related to unvested RSUs was $125.2 million at September 30, 2020, which is expected to be recognized over a weighted-average period of 2.5 years. Performance-Based Restricted Stock Units Performance-based restricted stock unit (“PRSU”) activity is summarized as follows (shares in thousands): Number of Shares Weighted- Unvested shares at December 31, 2019 1 1,752 $ 44.21 Granted 720 36.06 Forfeited (261) 40.69 Unvested shares at September 30, 2020 1 2,211 $ 41.97 1 Assumes maximum achievement of the specified financial targets. Unrecognized compensation expense related to unvested PRSUs was $14.9 million at September 30, 2020, which is expected to be recognized over a weighted-average period of 1.6 years. Employee Stock Purchase Plan Under the Company’s 2010 Employee Stock Purchase Plan (“ESPP”), eligible employees are granted the right to purchase shares at the lower of 85% of the fair value of the stock at the time of grant or 85% of the fair value at the time of exercise. The right to purchase shares is granted semi-annually, in June and December, for six month offering periods. As of and for the three months ended September 30, 2020, no shares were purchased under the ESPP, and 4,326,341 shares remained available for issuance. Stock-Based Compensation Stock-based compensation expense is reflected in the accompanying condensed consolidated statements of operations as follows (in thousands): Three Months Ended Nine Months Ended September 30, September 30, 2020 2019 2020 2019 Cost of revenue $ 2,205 $ 1,748 $ 7,028 $ 4,670 Sales and marketing 7,197 7,915 21,409 20,771 Research and development 4,283 4,285 11,807 12,800 General and administrative 4,047 5,570 14,553 17,473 Restructuring 192 — 400 — Total $ 17,924 $ 19,518 $ 55,197 $ 55,714

INCOME TAXES

INCOME TAXES	9 Months Ended
INCOME TAXES	Sep. 30, 2020
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES The Company’s income tax provision was approximately $(0.4) million and $(0.6) million with an effective income tax rate of (2.4)% and (94.4)% for the three months ended September 30, 2020 and 2019. The Company’s income tax benefit (provision) was approximately $28.6 million and $(2.2) million with an effective income tax rate of 40.8% and (19.8)% for the nine months ended September 30, 2020 and 2019. The Company’s effective tax rate differs from the US statutory rate of 21% primarily due to the change in the valuation allowance on the Company’s deferred tax assets and income taxes in foreign jurisdictions with no valuation allowances. In connection with the acquisition of Saba, the Company recorded excess deferred tax liabilities that are expected to provide a source of future income. This resulted in a partial change in judgment as to the realizability of the Company's US federal and state deferred tax assets. Consequently, the Company determined that a portion of its existing deferred tax assets were more likely than not to be realized and recognized a discrete income tax benefit of approximately $26.7 million during the three months ended June 30, 2020. The income tax provision is related to domestic income, certain foreign income, and withholding taxes. The Company does not have a material tax provision in significant jurisdictions in which it operates, such as the United States, as it has historically generated losses. The Company has recorded a full valuation allowance against its net deferred tax assets and the Company does not currently anticipate recording an income tax benefit related to these deferred tax assets or current year losses other than to the extent stated above. The Company computed income taxes for the quarter ended September 30, 2020 using the discrete method, applying the actual year-to date effective tax rate to pre-tax income or loss. The Company believes this method yields a more reliable income tax calculation for the period than the estimated annual effective tax rate method. The estimated annual effective tax rate method is not reasonable for the Company due to its sensitivity to small changes in forecasted annual income or loss before income taxes, which would result in significant variations in the customary relationship between income tax expense and pre-tax income or loss for interim periods. The Company is subject to United States federal income tax as well as to income tax in multiple state and foreign jurisdictions, including the United Kingdom. Federal income tax returns of the Company are subject to IRS examination for the 2016 through 2019 tax years. State income tax returns are subject to examination for the 2015 through 2019 tax years. Currently, an audit is ongoing in the UK for the year ended December 31, 2017. There are no ongoing audits in any other significant foreign tax jurisdictions.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	9 Months Ended
COMMITMENTS AND CONTINGENCIES	Sep. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Commitments In March 2020, the Company entered into an agreement with a provider of cloud computing services to provide services over approximately seven years. The remaining obligation as of September 30, 2020 is $81.2 million. Letters of Credit The Company maintains standby letters of credit in association with other contractual arrangements. Total letters of credit outstanding at September 30, 2020 and December 31, 2019 were $9.4 million and $8.3 million, respectively. Guarantees and Indemnifications The Company has made guarantees and indemnities under which it may be required to make payments to a guaranteed or indemnified party, in relation to certain transactions, including revenue transactions in the ordinary course of business. The Company is obligated to indemnify its directors and officers to the maximum extent permitted under the laws of the State of Delaware. However, the Company has a directors and officers insurance policy that may reduce its exposure in certain circumstances and may enable it to recover a portion of future amounts that may be payable, if any. The duration of the guarantees and indemnities varies and, in many cases, is indefinite but subject to statutes of limitations. To date, the Company has made no payments related to these guarantees and indemnities. The Company estimates the fair value of its indemnification obligations as insignificant based on this history and the Company’s insurance coverage and, therefore, has not recorded any liability for these guarantees and indemnities in the accompanying condensed consolidated balance sheets. Litigation The Company is subject to various legal proceedings and claims that arise in the ordinary course of business. If the Company determines that it is probable that a loss has been incurred and the amount is reasonably estimable, the Company will record a liability. The Company has determined that it does not have a potential liability related to any legal proceedings or claims that would individually, or in the aggregate, have a significant adverse effect on its financial condition or operating results.

LEASES

LEASES	9 Months Ended
LEASES	Sep. 30, 2020
Leases [Abstract]
LEASES	LEASES The Company has various non-cancelable operating leases for its offices and data centers. These arrangements have remaining lease terms ranging from 1 to 12 years. Certain lease agreements contain renewal options, termination rights, rent abatement, and/or escalation clauses with renewal terms that can extend the lease term, generally from 1 to 5 years. The components of lease cost related to the Company's operating leases are as follows: Nine Months Ended September 30, 2020 2019 (in thousands) Operating lease cost $ 13,979 $ 11,613 Sublease income (2,834) (2,732) Net lease cost $ 11,145 $ 8,881 Supplemental cash flow information related to leases, including leases acquired in business combinations, is as follows: Nine Months Ended September 30, 2020 2019 (in thousands) Cash paid for operating leases $ 10,357 $ 9,639 Right-of-use assets obtained in exchange for lease obligations 18,409 5,452 Supplemental balance sheet information related to the Company's operating leases is as follows: September 30, 2020 December 31, 2019 Weighted-average remaining lease term 4.4 years 6.0 years Weighted-average incremental borrowing rate 3.5 % 3.3 % Maturities of the Company’s operating lease liabilities at September 30, 2020 are as follows (in thousands): 2020 – remaining period $ 3,787 2021 20,908 2022 19,980 2023 18,864 2024 9,598 Thereafter 22,401 Total lease payments 95,538 Less: Imputed interest 1 (9,379) Present value of operating lease liabilities $ 86,159 1 Calculated using the incremental borrowing rate for each lease.

REVENUE, DEFERRED REVENUE, AND

REVENUE, DEFERRED REVENUE, AND REMAINING PERFORMANCE OBLIGATIONS	9 Months Ended
	Sep. 30, 2020
Revenue from Contract with Customer [Abstract]
REVENUE, DEFERRED REVENUE, AND REMAINING PERFORMANCE OBLIGATIONS	REVENUE, DEFERRED REVENUE, AND REMAINING PERFORMANCE OBLIGATIONS Disaggregation of Revenue The following table sets forth the Company’s sources of revenue (in thousands): Three Months Ended Nine Months Ended September 30, September 30, 2020 2019 2020 2019 Subscription revenue $ 185,643 $ 137,446 $ 507,281 $ 401,264 Professional services revenue 13,855 7,506 26,711 25,665 Total revenue $ 199,498 $ 144,952 $ 533,992 $ 426,929 Revenue by geographic region, which is generally based on the address of the Company’s customers as defined in their master subscription agreements, is set forth below (in thousands): Three Months Ended Nine Months Ended September 30, September 30, 2020 2019 2020 2019 United States $ 123,907 $ 94,880 $ 341,210 $ 278,157 All other countries 75,591 50,072 192,782 148,772 Total revenue $ 199,498 $ 144,952 $ 533,992 $ 426,929 Deferred Revenue The Company recognized $168.2 million and $127.1 million of revenue during the three months ended September 30, 2020 and 2019, respectively, that was included in the deferred revenue balances as of June 30, 2020 and 2019, respectively. The Company recognized $306.9 million and $286.7 million of revenue during the nine months ended September 30, 2020 and 2019, respectively, that was included in the deferred revenue balances as of December 31, 2019 and 2018, respectively. Transaction Price Allocated to Remaining Performance Obligations As of September 30, 2020, approximately $1.134 billion of revenue is expected to be recognized from remaining performance obligations. The Company expects to recognize revenue on approximately 70% of these remaining performance obligations over the next 18 months, with the balance recognized thereafter.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	9 Months Ended
RELATED PARTY TRANSACTIONS	Sep. 30, 2020
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	RELATED PARTY TRANSACTIONSThe Cornerstone OnDemand Foundation (the “Foundation”) empowers communities in the United States and internationally by increasing the impact of the non-profit sector through the utilization of people development technology including the Company’s products. The Company’s founder and co-chairman of the board is on the board of directors of the Foundation. The Company does not direct the Foundation’s activities, and accordingly, the Company does not consolidate the Foundation’s activities with its financial results. During the three months ended September 30, 2020 and 2019, the Company provided at no charge certain resources to the Foundation, with approximate values of $0.7 million and $0.8 million, respectively. During the nine months ended September 30, 2020 and 2019, the Company provided at no charge certain resources to the Foundation, with approximate values of $2.5 million and $2.8 million, respectively.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	9 Months Ended
SUBSEQUENT EVENTS	Sep. 30, 2020
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTSSubsequent to September 30, 2020, the Company made principal prepayments of $50.0 million on the Term Loan Facility. The Company expects to make voluntary prepayments on the Term Loan Facility from time to time in the future.

ORGANIZATION AND SUMMARY OF S_2

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Sep. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared on the same basis as the Company’s annual consolidated financial statements. These unaudited condensed financial statements are presented in accordance with (i) accounting standards generally accepted in the United States of America (“GAAP”) for interim financial information and (ii) the instructions to Form 10-Q and Article 10 of Regulation S-X. Certain information and note disclosures normally included in the annual consolidated financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. In the opinion of management, the financial statements include all adjustments (consisting of normal recurring adjustments) necessary for the fair presentation of the interim periods presented. Results of operations for the three and nine months ended September 30, 2020 are not necessarily indicative of the results that may be expected for the year ending December 31, 2020, for any other interim period, or for any other future year. Certain prior period balances have been reclassified to conform to the current period presentation.
Recent Accounting Pronouncements	Recently Adopted Accounting Pronouncements Effective January 1, 2020, the Company adopted the requirements of Accounting Standards Update No. 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments (“ASU 2016-13”), using a modified retrospective method of adoption. All amounts and disclosures set forth in this Quarterly Report on Form 10-Q have been updated to comply with this new standard with results for reporting periods beginning after January 1, 2020 presented under ASU 2016-13, while prior period amounts and disclosures were not adjusted and continue to be reported under the accounting standards in effect for the prior periods. ASU 2016-13 replaces the incurred loss methodology with an expected loss methodology, referred to as current expected credit loss (“CECL”), for financial instruments, including accounts receivable. The cumulative effect of adopting ASU 2016-13 did not have a material impact on the Company’s accumulated deficit as of January 1, 2020. The Company’s expected loss allowance methodology for accounts receivable is developed using historical collection experience, current receivables aging, consideration of current conditions, and other relevant data. On January 1, 2020, the Company adopted the requirements of Accounting Standards Update No. 2018-15, Intangibles—Goodwill and Other—Internal-Use Software: Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement (“ASU 2018-15”), using a prospective method of adoption. ASU 2018-15 aligns the accounting for implementation costs incurred in a hosting arrangement that is a service contract with the accounting for implementation costs incurred to develop or obtain internal-use software under ASC 350-40, in order to determine which costs to capitalize and recognize as an asset and which costs to expense. The adoption did not have a material impact on the Company’s condensed consolidated financial statements. Accounting Pronouncements Pending Adoption In December 2019, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update No. 2019-12, Simplifying the Accounting for Income Taxes (“ASU 2019-12”), which enhances and simplifies various aspects of the income tax accounting guidance. The guidance is effective for the Company in the first quarter of 2021, although early adoption is permitted. The Company is currently evaluating the impact of the adoption of ASU 2019-12 on its consolidated financial statements.

BUSINESS COMBINATIONS (Tables)

BUSINESS COMBINATIONS (Tables)	9 Months Ended
BUSINESS COMBINATIONS (Tables)	Sep. 30, 2020
Business Combinations [Abstract]
Preliminary Fair Value of Assets Acquired and Liabilities Assumed as a Result of the Saba Group Acquisition	The following table summarizes the preliminary fair value of assets acquired and liabilities assumed as a result of the acquisition of Saba, as adjusted in the third quarter of 2020 (in thousands): Preliminary Fair Value at Acquisition Date Measurement Period Adjustments 1 Adjusted Fair Value at Acquisition Date Cash and cash equivalents $ 49,471 $ 49,471 Accounts receivable 58,764 58,764 Prepaid expenses and other current assets 13,020 13,020 Property and equipment 9,446 9,446 Operating right-of-use assets 16,700 16,700 Intangible assets 481,000 481,000 Goodwill 905,498 (2,694) 902,804 Other assets 2,698 1,122 3,820 Total assets 1,536,597 (1,572) 1,535,025 Accounts payable and accrued expenses 28,978 28,978 Deferred revenue 69,940 1,092 71,032 Operating lease liabilities 16,532 16,532 Deferred tax liabilities, net 46,472 46,472 Other liabilities 12,782 12,782 Total liabilities 174,704 1,092 175,796 Total purchase consideration $ 1,361,893 $ (2,664) $ 1,359,229 1 The Company received approximately $2.7 million from escrow and made other revisions to certain acquired balances during the three months ended September 30, 2020. The Company's preliminary allocation of the total purchase consideration as of January 24, 2020 is summarized below: Fair Value Tangible assets $ 1,275 Intangible assets – developed technology 9,800 Intangible assets – customer relationships 800 Goodwill 8,875 Deferred tax liabilities (1,020) Accounts payable and accrued expenses (755) Deferred revenue (336) Net assets acquired $ 18,639
Schedule of Gross Carrying Amount and Accumulated Amortization of Finite-lived Intangible Assets	The following table provides the preliminary valuation of the Saba intangible assets, along with their estimated useful lives: Estimated Fair Value Estimated Useful Life Customer relationships $ 294,800 11 Customer contracts 58,500 2 Developed technology 120,500 3 – 5 Trade names, trademarks, and domain names 7,200 3 Total $ 481,000
Pro Forma Results	The unaudited pro forma results presented below include adjustments for amortization of identifiable intangible assets, interest expense related to debt financing, and related tax effects (in thousands): Three Months Ended Nine Months Ended September 30, September 30, 2020 2019 2020 2019 Revenue $ 199,498 $ 209,465 $ 639,036 $ 618,765 Net loss (10,776) (20,641) (95,625) (79,164)
Schedule of Allocation of the Total Purchase Consideration	The following table summarizes the preliminary fair value of assets acquired and liabilities assumed as a result of the acquisition of Saba, as adjusted in the third quarter of 2020 (in thousands): Preliminary Fair Value at Acquisition Date Measurement Period Adjustments 1 Adjusted Fair Value at Acquisition Date Cash and cash equivalents $ 49,471 $ 49,471 Accounts receivable 58,764 58,764 Prepaid expenses and other current assets 13,020 13,020 Property and equipment 9,446 9,446 Operating right-of-use assets 16,700 16,700 Intangible assets 481,000 481,000 Goodwill 905,498 (2,694) 902,804 Other assets 2,698 1,122 3,820 Total assets 1,536,597 (1,572) 1,535,025 Accounts payable and accrued expenses 28,978 28,978 Deferred revenue 69,940 1,092 71,032 Operating lease liabilities 16,532 16,532 Deferred tax liabilities, net 46,472 46,472 Other liabilities 12,782 12,782 Total liabilities 174,704 1,092 175,796 Total purchase consideration $ 1,361,893 $ (2,664) $ 1,359,229 1 The Company received approximately $2.7 million from escrow and made other revisions to certain acquired balances during the three months ended September 30, 2020. The Company's preliminary allocation of the total purchase consideration as of January 24, 2020 is summarized below: Fair Value Tangible assets $ 1,275 Intangible assets – developed technology 9,800 Intangible assets – customer relationships 800 Goodwill 8,875 Deferred tax liabilities (1,020) Accounts payable and accrued expenses (755) Deferred revenue (336) Net assets acquired $ 18,639

DEBT (Tables)

DEBT (Tables)	9 Months Ended
DEBT (Tables)	Sep. 30, 2020
Debt Disclosure [Abstract]
Summary of Net Carrying Amount of Debt	The net carrying amounts of the components of the Term Loan Facility consist of the following (in thousands): September 30, 2020 Principal amount $ 1,004,700 Unamortized debt discount (23,971) Unamortized debt issuance costs (22,237) Net carrying value $ 958,492 The net carrying amounts of the components of the Convertible Notes consist of the following (in thousands): September 30, 2020 December 31, 2019 Principal amount $ 300,000 $ 300,000 Unaccreted debt discount (17,930) (2,691) Unamortized debt issuance costs (5,869) (4,135) Net carrying value $ 276,201 $ 293,174
Schedule of Interest Expense Recognized	The following table presents the interest expense recognized related to the Term Loan Facility (in thousands): Three Months Ended Nine Months Ended September 30, 2020 Contractual interest expense $ 12,061 $ 22,359 Accretion of debt discount 447 1,146 Amortization of debt issuance costs 425 1,088 Total $ 12,933 $ 24,593 The following table presents the interest expense recognized related to the Convertible Notes (in thousands): Three Months Ended Nine Months Ended September 30, September 30, 2020 2019 2020 2019 Contractual interest expense $ 4,313 $ 4,313 $ 12,939 $ 12,939 Accretion of debt discount 1,428 418 3,358 1,233 Amortization of debt issuance costs 414 642 1,670 1,897 Total $ 6,155 $ 5,373 $ 17,967 $ 16,069

NET LOSS PER SHARE (Tables)

NET LOSS PER SHARE (Tables)	9 Months Ended
NET LOSS PER SHARE (Tables)	Sep. 30, 2020
Earnings Per Share [Abstract]
Summary of Basic and Diluted Net Loss Per Share	The following table presents the Company’s basic and diluted net loss per share (in thousands, except per share amounts): Three Months Ended Nine Months Ended September 30, September 30, 2020 2019 2020 2019 Net loss $ (15,781) $ (1,217) $ (41,543) $ (13,486) Net loss per share, basic and diluted $ (0.25) $ (0.02) $ (0.66) $ (0.23) Weighted-average shares of common stock outstanding, 64,375 60,652 63,204 59,841
Anti-Dilutive Shares Excluded from Calculation of Diluted Net Loss Per Share	The following potential shares were excluded from the computation of diluted net loss per share because their effect would have been anti-dilutive (in thousands): September 30, 2020 2019 Options to purchase common stock, restricted stock units, and performance-based restricted stock units 8,091 9,146 Shares issuable pursuant to employee stock purchase plan 161 103 Convertible notes 7,143 7,143 Total shares excluded from net loss per share 15,395 16,392

CASH AND INVESTMENTS (Tables)

CASH AND INVESTMENTS (Tables)	9 Months Ended
CASH AND INVESTMENTS (Tables)	Sep. 30, 2020
Investments, Debt and Equity Securities [Abstract]
Schedule of Cash, Cash Equivalents and Investments	The following is a summary of cash and marketable investments, including those that meet the definition of a cash equivalent, as of December 31, 2019 (in thousands): Amortized Cost Unrealized Gains Unrealized Losses Fair Value Cash $ 67,818 $ — $ — $ 67,818 Cash equivalents: Money market funds 126,075 — — 126,075 Corporate bonds 1,000 — — 1,000 Agency bonds 6,485 1 — 6,486 Commercial paper 9,609 — (1) 9,608 Certificates of deposit 171 — — 171 US treasury securities 4,749 — — 4,749 Total cash equivalents 148,089 1 (1) 148,089 Total cash and cash equivalents $ 215,907 $ 1 $ (1) $ 215,907 Short-term investments: Corporate bonds $ 103,130 $ 110 $ (7) $ 103,233 Agency bonds 3,966 2 — 3,968 US treasury securities 50,703 62 (1) 50,764 Commercial paper 23,827 1 — 23,828 Certificates of deposit 3,936 2 (1) 3,937 Asset-backed securities 15,837 12 — 15,849 Total short-term investments $ 201,399 $ 189 $ (9) $ 201,579 Long-term marketable investments: Corporate bonds $ 19,407 $ 12 $ (4) $ 19,415 US treasury securities 19,300 25 — 19,325 Asset-backed securities 11,693 10 (1) 11,702 Total long-term marketable investments $ 50,400 $ 47 $ (5) $ 50,442
Schedule of Long-Term Investments	The Company’s long-term investments are composed of the following (in thousands): September 30, 2020 December 31, 2019 Long-term marketable investments $ — $ 50,442 Non-marketable investments 9,043 9,750 Total long-term investments $ 9,043 $ 60,192
Non-Marketable Investments	The Company’s non-marketable investments are composed of the following (in thousands): September 30, 2020 December 31, 2019 Accounted for at cost, adjusted for observable price changes $ 1,750 $ 1,750 Accounted for using the equity method 7,293 8,000 Total non-marketable investments $ 9,043 $ 9,750

INTANGIBLE ASSETS AND GOODWILL

INTANGIBLE ASSETS AND GOODWILL (Tables)	9 Months Ended
INTANGIBLE ASSETS AND GOODWILL (Tables)	Sep. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Gross Carrying Amount and Accumulated Amortization of Finite-lived Intangible Assets	The following table presents the gross carrying amount and accumulated amortization of finite-lived intangible assets (dollars in thousands): September 30, 2020 December 31, 2019 Weighted Average Useful Life Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Developed technology 2.9 $ 141,337 $ (22,144) $ 119,193 $ 39,984 $ (34,268) $ 5,716 Content library 3.6 4,700 (1,619) 3,081 4,700 (976) 3,724 Customer relationships 10.5 296,046 (12,125) 283,921 — — — Customer contracts 1.5 58,580 (12,921) 45,659 — — — Trade names, trademarks, and domain names 2.5 7,212 (1,060) 6,152 — — — Total $ 507,875 $ (49,869) $ 458,006 $ 44,684 $ (35,244) $ 9,440
Schedule of Estimated Remaining Intangible Asset Amortization	The following table presents the Company's estimate of remaining amortization expense for finite-lived intangible assets that existed as of September 30, 2020 (in thousands): 2020 - remaining period $ 24,176 2021 95,421 2022 72,331 2023 50,295 2024 42,238 Thereafter 173,545 Estimated remaining amortization expense $ 458,006
Carrying Amount of Goodwill	The following table presents the carrying amount of goodwill (in thousands): Balance as of December 31, 2019 $ 47,453 Goodwill resulting from acquisitions 914,373 Measurement period adjustments (2,694) Effect of foreign currency translation 1,288 Balance as of September 30, 2020 $ 960,420

RESTRUCTURING (Tables)

RESTRUCTURING (Tables)	9 Months Ended
RESTRUCTURING (Tables)	Sep. 30, 2020
Restructuring and Related Activities [Abstract]
Schedule of Restructuring Activity	Activity for the Company's restructuring plan is as follows: Nine Months Ended September 30, 2020 (in thousands) Restructuring charges $ 10,695 Non-cash charges 400 Total restructuring expense $ 11,095 Restructuring liability balance as of December 31, 2019 $ — Restructuring charges 10,695 Cash payments (7,786) Effect of foreign currency translation 98 Restructuring liability balance as of September 30, 2020 $ 3,007

OTHER BALANCE SHEET AMOUNTS (Ta

OTHER BALANCE SHEET AMOUNTS (Tables)	9 Months Ended
OTHER BALANCE SHEET AMOUNTS (Tables)	Sep. 30, 2020
Balance Sheet Related Disclosures [Abstract]
Schedule of property and equipment, net	The balance of property and equipment, net is as follows (in thousands): Useful Life September 30, 2020 December 31, 2019 Computer equipment and software 1 – 5 years $ 64,342 $ 57,482 Furniture and fixtures 3 – 7 years 6,898 6,096 Leasehold improvements 1 – 7 years 25,011 22,800 Total property and equipment 96,251 86,378 Less: accumulated depreciation and amortization (62,359) (49,852) Total property and equipment, net $ 33,892 $ 36,526
Schedule of accrued expenses	The balance of accrued expenses is as follows (in thousands): September 30, 2020 December 31, 2019 Accrued compensation $ 47,667 $ 33,626 Accrued commissions 13,329 18,834 Accrued interest 5,435 8,625 Other accrued expenses 24,234 16,990 Total accrued expenses $ 90,665 $ 78,075

FAIR VALUE OF FINANCIAL INSTR_2

FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)	9 Months Ended
FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)	Sep. 30, 2020
Fair Value Disclosures [Abstract]
Summary of Assets and Liabilities Measured at Fair Value	Assets and liabilities measured at fair value on a recurring basis included the following (in thousands): September 30, 2020 December 31, 2019 Fair Value Level 1 Level 2 Level 3 Fair Value Level 1 Level 2 Level 3 Cash equivalents $ — $ — $ — $ — $ 148,089 $ 148,089 $ — $ — Corporate bonds — — — — 122,648 — 122,648 — Agency bonds — — — — 3,968 — 3,968 — US treasury securities — — — — 70,089 — 70,089 — Commercial paper — — — — 23,828 — 23,828 — Certificate of deposit — — — — 3,937 3,937 — — Asset-backed securities — — — — 27,551 — 27,551 — Foreign currency forward contracts 43 — 43 — — — — — Total $ 43 $ — $ 43 $ — $ 400,110 $ 152,026 $ 248,084 $ —

STOCK-BASED AWARDS (Tables)

STOCK-BASED AWARDS (Tables)	9 Months Ended
STOCK-BASED AWARDS (Tables)	Sep. 30, 2020
Share-based Payment Arrangement [Abstract]
Summary of Stock Option Activity	Stock option activity is summarized as follows (in thousands, except per share and term information): Number of Shares Weighted- Weighted- Aggregate Intrinsic Value 1 Outstanding, December 31, 2019 2,851 $ 30.97 3.1 $ 78,580 Exercised (774) 12.09 Forfeited (174) 42.43 Outstanding, September 30, 2020 1,903 $ 37.62 2.9 $ 9,347 Exercisable at September 30, 2020 1,903 $ 37.62 2.9 $ 9,347 Vested and expected to vest at September 30, 2020 1,903 $ 37.62 2.9 $ 9,347 1 Based on the Company’s closing stock price of $36.36 on September 30, 2020 and $58.55 on December 31, 2019.
Schedule of restricted stock unit activity	Restricted stock unit (“RSU”) activity is summarized as follows (shares in thousands): Number of Shares Weighted- Unvested shares at December 31, 2019 3,756 $ 47.76 Granted 2,019 34.39 Forfeited (296) 46.69 Vested (1,502) 43.44 Unvested shares at September 30, 2020 3,977 $ 42.68
Schedule of performance-based units activity	Performance-based restricted stock unit (“PRSU”) activity is summarized as follows (shares in thousands): Number of Shares Weighted- Unvested shares at December 31, 2019 1 1,752 $ 44.21 Granted 720 36.06 Forfeited (261) 40.69 Unvested shares at September 30, 2020 1 2,211 $ 41.97 1 Assumes maximum achievement of the specified financial targets.
Summary of stock-based compensation expense	Stock-based compensation expense is reflected in the accompanying condensed consolidated statements of operations as follows (in thousands): Three Months Ended Nine Months Ended September 30, September 30, 2020 2019 2020 2019 Cost of revenue $ 2,205 $ 1,748 $ 7,028 $ 4,670 Sales and marketing 7,197 7,915 21,409 20,771 Research and development 4,283 4,285 11,807 12,800 General and administrative 4,047 5,570 14,553 17,473 Restructuring 192 — 400 — Total $ 17,924 $ 19,518 $ 55,197 $ 55,714

LEASES (Tables)

LEASES (Tables)	9 Months Ended
LEASES (Tables)	Sep. 30, 2020
Leases [Abstract]
Components of Lease Expense	The components of lease cost related to the Company's operating leases are as follows: Nine Months Ended September 30, 2020 2019 (in thousands) Operating lease cost $ 13,979 $ 11,613 Sublease income (2,834) (2,732) Net lease cost $ 11,145 $ 8,881
Supplemental Cash Flow Information Related to Leases	Supplemental cash flow information related to leases, including leases acquired in business combinations, is as follows: Nine Months Ended September 30, 2020 2019 (in thousands) Cash paid for operating leases $ 10,357 $ 9,639 Right-of-use assets obtained in exchange for lease obligations 18,409 5,452
Supplemental Balance Sheet Information of Operating Leases	Supplemental balance sheet information related to the Company's operating leases is as follows: September 30, 2020 December 31, 2019 Weighted-average remaining lease term 4.4 years 6.0 years Weighted-average incremental borrowing rate 3.5 % 3.3 %
Maturities of Operating Lease Liabilities	Maturities of the Company’s operating lease liabilities at September 30, 2020 are as follows (in thousands): 2020 – remaining period $ 3,787 2021 20,908 2022 19,980 2023 18,864 2024 9,598 Thereafter 22,401 Total lease payments 95,538 Less: Imputed interest 1 (9,379) Present value of operating lease liabilities $ 86,159 1 Calculated using the incremental borrowing rate for each lease.

REVENUE, DEFERRED REVENUE, AN_2

REVENUE, DEFERRED REVENUE, AND REMAINING PERFORMANCE OBLIGATIONS (Tables)	9 Months Ended
	Sep. 30, 2020
Revenue from Contract with Customer [Abstract]
Schedule of revenue by source	The following table sets forth the Company’s sources of revenue (in thousands): Three Months Ended Nine Months Ended September 30, September 30, 2020 2019 2020 2019 Subscription revenue $ 185,643 $ 137,446 $ 507,281 $ 401,264 Professional services revenue 13,855 7,506 26,711 25,665 Total revenue $ 199,498 $ 144,952 $ 533,992 $ 426,929
Schedule of revenue by geographic area	Revenue by geographic region, which is generally based on the address of the Company’s customers as defined in their master subscription agreements, is set forth below (in thousands): Three Months Ended Nine Months Ended September 30, September 30, 2020 2019 2020 2019 United States $ 123,907 $ 94,880 $ 341,210 $ 278,157 All other countries 75,591 50,072 192,782 148,772 Total revenue $ 199,498 $ 144,952 $ 533,992 $ 426,929

ORGANIZATION AND SUMMARY OF S_3

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Detail)	9 Months Ended
	Sep. 30, 2020segment
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of operating segments	1

BUSINESS COMBINATIONS - Additio

BUSINESS COMBINATIONS - Additional Information (Details) - USD ($)	Apr. 22, 2020	Jan. 24, 2020	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Business Acquisition [Line Items]
Acquisition-related costs			$ 4,852,000	$ 0	$ 31,756,000	$ 0
Developed technology
Business Acquisition [Line Items]
Weighted average useful life (in years)					2 years 10 months 24 days
Customer relationships
Business Acquisition [Line Items]
Weighted average useful life (in years)					10 years 6 months
Saba Software, Inc.
Business Acquisition [Line Items]
Equity interest acquired (in percent)	100.00%
Purchase price	$ 1,310,000,000
Cash paid in acquisition	$ 1,277,000,000
Revenue			$ 47,000,000		$ 76,000,000
Saba Software, Inc. \| Common Stock
Business Acquisition [Line Items]
Equity interest transferred (in shares)	1,110,352
Equity interest transferred	$ 32,900,000
Expected tax deductible amount of goodwill acquired	$ 0
Clustree
Business Acquisition [Line Items]
Cash paid in acquisition		$ 18,600,000
Clustree \| Developed technology
Business Acquisition [Line Items]
Weighted average useful life (in years)		3 years
Clustree \| Customer relationships
Business Acquisition [Line Items]
Weighted average useful life (in years)		2 years

BUSINESS COMBINATIONS - Assets

BUSINESS COMBINATIONS - Assets Acquired and Liabilities assumed (Details) - USD ($) $ in Thousands	3 Months Ended	5 Months Ended
	Sep. 30, 2020	Sep. 30, 2020	Apr. 22, 2020	Dec. 31, 2019
Business Acquisition [Line Items]
Goodwill	$ 960,420	$ 960,420		$ 47,453
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Other Noncurrent Assets		1,122
Saba Software, Inc.
Business Acquisition [Line Items]
Cash and cash equivalents	49,471	49,471	$ 49,471
Accounts receivable	58,764	58,764	58,764
Prepaid expenses and other current assets	13,020	13,020	13,020
Property and equipment	9,446	9,446	9,446
Operating right-of-use assets	16,700	16,700	16,700
Intangible assets	481,000	481,000	481,000
Goodwill	902,804	902,804	905,498
Goodwill, Purchase Accounting Adjustments		2,694
Other assets	3,820	3,820	2,698
Total assets	1,535,025	1,535,025	1,536,597
Total Assets, Purchase Accounting Adjustments		(1,572)
Accounts payable and accrued expenses	28,978	28,978	28,978
Deferred revenue	71,032	71,032	69,940
Deferred Revenue, Purchase Accounting Adjustments		1,092
Operating lease liabilities	16,532	16,532	16,532
Deferred tax liabilities, net	46,472	46,472	46,472
Other liabilities	12,782	12,782	12,782
Total liabilities	175,796	175,796	174,704
Total Liabilities, Purchase Accounting Adjustments		1,092
Net assets acquired	1,359,229	1,359,229	$ 1,361,893
Total Purchase Consideration, Purchase Accounting Adjustments	$ 2,700	$ (2,664)

BUSINESS COMBINATIONS - Identif

BUSINESS COMBINATIONS - Identifiable Intangible Assets (Details) - Saba Software, Inc. - USD ($) $ in Thousands	Apr. 22, 2020	Sep. 30, 2020
Business Acquisition [Line Items]
Intangible assets	$ 481,000	$ 481,000
Customer relationships
Business Acquisition [Line Items]
Intangible assets	$ 294,800
Estimated Useful Life (in years)	11 years
Customer contracts
Business Acquisition [Line Items]
Intangible assets	$ 58,500
Estimated Useful Life (in years)	2 years
Developed technology
Business Acquisition [Line Items]
Intangible assets	$ 120,500
Developed technology \| Minimum
Business Acquisition [Line Items]
Estimated Useful Life (in years)	3 years
Developed technology \| Maximum
Business Acquisition [Line Items]
Estimated Useful Life (in years)	5 years
Trade names, trademarks, and domain names
Business Acquisition [Line Items]
Intangible assets	$ 7,200
Estimated Useful Life (in years)	3 years

BUSINESS COMBINATIONS - Pro For

BUSINESS COMBINATIONS - Pro Forma Information (Details) - Saba Software, Inc. - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Business Acquisition [Line Items]
Revenue	$ 199,498	$ 209,465	$ 639,036	$ 618,765
Net loss	$ (10,776)	$ (20,641)	$ (95,625)	$ (79,164)

BUSINESS COMBINATIONS - Allocat

BUSINESS COMBINATIONS - Allocation of Purchase Price (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Jan. 24, 2020	Dec. 31, 2019
Business Acquisition [Line Items]
Goodwill	$ 960,420		$ 47,453
Clustree
Business Acquisition [Line Items]
Tangible assets		$ 1,275
Goodwill		8,875
Deferred tax liabilities		(1,020)
Accounts payable and accrued expenses		(755)
Deferred revenue		(336)
Net assets acquired		18,639
Clustree \| Developed technology
Business Acquisition [Line Items]
Intangible assets		9,800
Clustree \| Customer relationships
Business Acquisition [Line Items]
Intangible assets		$ 800

DEBT - Additional Information (

DEBT - Additional Information (Detail)	Apr. 22, 2020USD ($)	Apr. 20, 2020USD ($)	Dec. 31, 2017USD ($)$ / shares	Dec. 31, 2017USD ($)$ / shares	Sep. 30, 2020USD ($)	Dec. 31, 2017USD ($)$ / shares	Dec. 31, 2019USD ($)
Debt Instrument [Line Items]
Increase in debt discount as a result of modification of Convertible Notes	$ 18,600,000
Letter of Credit
Debt Instrument [Line Items]
Aggregate principal amount	$ 30,000,000
Convertible notes
Debt Instrument [Line Items]
Debt discount recorded					$ 17,930,000		$ 2,691,000
Transaction costs related to the issuance of Notes					5,869,000		$ 4,135,000
Line of Credit
Debt Instrument [Line Items]
Debt discount recorded					23,971,000
Transaction costs related to the issuance of Notes					$ 22,237,000
Convertible Senior Notes At 5.75%, Maturing 2021
Debt Instrument [Line Items]
Consent fees related to indenture		$ 3,400,000
Convertible Senior Notes At 5.75%, Maturing 2021 \| Convertible notes
Debt Instrument [Line Items]
Aggregate principal amount			$ 300,000,000	$ 300,000,000		$ 300,000,000
Repurchase price of notes (in percent)					100.00%
Effective interest rate					9.90%
Debt interest rate			5.75%	5.75%		5.75%
Debt issuance discount						98.00%
Net proceeds from the Notes			$ 284,800,000
Debt discount recorded			6,000,000	$ 6,000,000		$ 6,000,000
Transaction costs related to the issuance of Notes			$ 9,200,000	$ 9,200,000		$ 9,200,000
Conversion ratio				0.0238095
Conversion price (USD per share) \| $ / shares			$ 42	$ 42		$ 42
Senior Secured First lien Term Loan B Facility
Debt Instrument [Line Items]
Term	7 years
Aggregate principal amount	$ 1,004,700,000
Repurchase price of notes (in percent)	97.50%
Quarterly principal payment (in percent)	0.25%
Effective interest rate					5.30%
Line of Credit \| Revolving Credit Facility
Debt Instrument [Line Items]
Term	5 years
Aggregate principal amount	$ 150,000,000
Available at closing					$ 50,000,000
Commitment fee on undrawn amounts (in percent)	0.50%
Line of Credit \| Revolving Credit Facility \| Maximum \| LIBOR
Debt Instrument [Line Items]
Variable interest rate	4.25%
Line of Credit \| Revolving Credit Facility \| Minimum \| LIBOR
Debt Instrument [Line Items]
Variable interest rate	0.00%

DEBT - Summary of Net Carrying

DEBT - Summary of Net Carrying Amount of Debt (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Convertible Debt
Debt Instrument [Line Items]
Principal amount	$ 300,000	$ 300,000
Unaccreted debt discount	(17,930)	(2,691)
Unamortized debt issuance costs	(5,869)	(4,135)
Debt, net of current portion	276,201	$ 293,174
Line of Credit
Debt Instrument [Line Items]
Principal amount	1,004,700
Unaccreted debt discount	(23,971)
Unamortized debt issuance costs	(22,237)
Debt, net of current portion	$ 958,492

DEBT - Schedule of Interest Exp

DEBT - Schedule of Interest Expense Recognized (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Convertible notes
Debt Instrument [Line Items]
Contractual interest expense	$ 4,313	$ 4,313	$ 12,939	$ 12,939
Accretion of debt discount	1,428	418	3,358	1,233
Amortization of debt issuance costs	414	642	1,670	1,897
Total	6,155	$ 5,373	17,967	$ 16,069
Line of Credit
Debt Instrument [Line Items]
Contractual interest expense	12,061		22,359
Accretion of debt discount	447		1,146
Amortization of debt issuance costs	425		1,088
Total	$ 12,933		$ 24,593

NET LOSS PER SHARE - Basic and

NET LOSS PER SHARE - Basic and Diluted Loss Per Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Earnings Per Share [Abstract]
Net loss	$ (15,781)	$ (1,217)	$ (41,543)	$ (13,486)
Net loss per share, basic and diluted (USD per share)	$ (0.25)	$ (0.02)	$ (0.66)	$ (0.23)
Weighted average common shares outstanding, basic and diluted (in shares)	64,375	60,652	63,204	59,841

NET LOSS PER SHARE - Anti-dilut

NET LOSS PER SHARE - Anti-dilutive Shares Excluded From Calculation of Diluted Net Loss Per (Detail) - shares shares in Thousands	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total shares excluded from net loss per share	15,395	16,392
Options to purchase common stock, restricted stock units, and performance-based restricted stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total shares excluded from net loss per share	8,091	9,146
Shares issuable pursuant to employee stock purchase plan
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total shares excluded from net loss per share	161	103
Convertible notes
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total shares excluded from net loss per share	7,143	7,143

CASH AND INVESTMENTS - Schedule

CASH AND INVESTMENTS - Schedule of Cash, Cash Equivalents, and Investments (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Debt Securities, Available-for-sale [Line Items]
Cash		$ 67,818
Corporate bonds
Debt Securities, Available-for-sale [Line Items]
Fair Value	$ 0	122,648
Agency bonds
Debt Securities, Available-for-sale [Line Items]
Fair Value	0	3,968
Certificates of deposit
Debt Securities, Available-for-sale [Line Items]
Fair Value	0	3,937
US treasury securities
Debt Securities, Available-for-sale [Line Items]
Fair Value	0	70,089
Asset-backed securities
Debt Securities, Available-for-sale [Line Items]
Fair Value	0	27,551
Cash equivalents:
Debt Securities, Available-for-sale [Line Items]
Amortized Cost		148,089
Unrealized Gains		1
Unrealized Losses		(1)
Fair Value		148,089
Cash equivalents: \| Money market funds
Debt Securities, Available-for-sale [Line Items]
Amortized Cost		126,075
Unrealized Gains		0
Unrealized Losses		0
Fair Value		126,075
Cash equivalents: \| Corporate bonds
Debt Securities, Available-for-sale [Line Items]
Amortized Cost		1,000
Unrealized Gains		0
Unrealized Losses		0
Fair Value		1,000
Cash equivalents: \| Agency bonds
Debt Securities, Available-for-sale [Line Items]
Amortized Cost		6,485
Unrealized Gains		1
Unrealized Losses		0
Fair Value		6,486
Cash equivalents: \| Commercial paper
Debt Securities, Available-for-sale [Line Items]
Amortized Cost		9,609
Unrealized Gains		0
Unrealized Losses		(1)
Fair Value		9,608
Cash equivalents: \| Certificates of deposit
Debt Securities, Available-for-sale [Line Items]
Amortized Cost		171
Unrealized Gains		0
Unrealized Losses		0
Fair Value		171
Cash equivalents: \| US treasury securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost		4,749
Unrealized Gains		0
Unrealized Losses		0
Fair Value		4,749
Total cash and cash equivalents
Debt Securities, Available-for-sale [Line Items]
Amortized Cost		215,907
Unrealized Gains		1
Unrealized Losses		(1)
Fair Value		215,907
Short-term investments:
Debt Securities, Available-for-sale [Line Items]
Amortized Cost		201,399
Unrealized Gains		189
Unrealized Losses		(9)
Fair Value		201,579
Short-term investments: \| Corporate bonds
Debt Securities, Available-for-sale [Line Items]
Amortized Cost		103,130
Unrealized Gains		110
Unrealized Losses		(7)
Fair Value		103,233
Short-term investments: \| Agency bonds
Debt Securities, Available-for-sale [Line Items]
Amortized Cost		3,966
Unrealized Gains		2
Unrealized Losses		0
Fair Value		3,968
Short-term investments: \| Commercial paper
Debt Securities, Available-for-sale [Line Items]
Amortized Cost		23,827
Unrealized Gains		1
Unrealized Losses		0
Fair Value		23,828
Short-term investments: \| Certificates of deposit
Debt Securities, Available-for-sale [Line Items]
Amortized Cost		3,936
Unrealized Gains		2
Unrealized Losses		(1)
Fair Value		3,937
Short-term investments: \| US treasury securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost		50,703
Unrealized Gains		62
Unrealized Losses		(1)
Fair Value		50,764
Short-term investments: \| Asset-backed securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost		15,837
Unrealized Gains		12
Unrealized Losses		0
Fair Value		15,849
Total long-term marketable investments
Debt Securities, Available-for-sale [Line Items]
Amortized Cost		50,400
Unrealized Gains		47
Unrealized Losses		(5)
Fair Value	$ 0	50,442
Total long-term marketable investments \| Corporate bonds
Debt Securities, Available-for-sale [Line Items]
Amortized Cost		19,407
Unrealized Gains		12
Unrealized Losses		(4)
Fair Value		19,415
Total long-term marketable investments \| US treasury securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost		19,300
Unrealized Gains		25
Unrealized Losses		0
Fair Value		19,325
Total long-term marketable investments \| Asset-backed securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost		11,693
Unrealized Gains		10
Unrealized Losses		(1)
Fair Value		$ 11,702

CASH AND INVESTMENTS - Long-Ter

CASH AND INVESTMENTS - Long-Term Investments (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Total long-term marketable investments
Debt Securities, Available-for-sale [Line Items]
Fair Value	$ 0	$ 50,442
Non-marketable investments
Debt Securities, Available-for-sale [Line Items]
Fair Value	9,043	9,750
Long-term marketable investments:
Debt Securities, Available-for-sale [Line Items]
Fair Value	$ 9,043	$ 60,192

CASH AND INVESTMENTS - Non-Mark

CASH AND INVESTMENTS - Non-Marketable Investments (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Investments, Debt and Equity Securities [Abstract]
Accounted for at cost, adjusted for observable price changes	$ 1,750	$ 1,750
Accounted for using the equity method	7,293	8,000
Total non-marketable investments	$ 9,043	$ 9,750

INTANGIBLE ASSETS AND GOODWIL_2

INTANGIBLE ASSETS AND GOODWILL - Gross Carrying Amount and Accumulated Amortization of Finite-lived Intangible Assets (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Dec. 31, 2019
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 507,875	$ 44,684
Accumulated Amortization	(49,869)	(35,244)
Net Carrying Amount	$ 458,006	9,440
Developed technology
Finite-Lived Intangible Assets [Line Items]
Weighted Average Useful Life (in years)	2 years 10 months 24 days
Gross Carrying Amount	$ 141,337	39,984
Accumulated Amortization	(22,144)	(34,268)
Net Carrying Amount	$ 119,193	5,716
Content library
Finite-Lived Intangible Assets [Line Items]
Weighted Average Useful Life (in years)	3 years 7 months 6 days
Gross Carrying Amount	$ 4,700	4,700
Accumulated Amortization	(1,619)	(976)
Net Carrying Amount	$ 3,081	3,724
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Weighted Average Useful Life (in years)	10 years 6 months
Gross Carrying Amount	$ 296,046	0
Accumulated Amortization	(12,125)	0
Net Carrying Amount	$ 283,921	0
Customer contracts
Finite-Lived Intangible Assets [Line Items]
Weighted Average Useful Life (in years)	1 year 6 months
Gross Carrying Amount	$ 58,580	0
Accumulated Amortization	(12,921)	0
Net Carrying Amount	$ 45,659	0
Trade names, trademarks, and domain names
Finite-Lived Intangible Assets [Line Items]
Weighted Average Useful Life (in years)	2 years 6 months
Gross Carrying Amount	$ 7,212	0
Accumulated Amortization	(1,060)	0
Net Carrying Amount	$ 6,152	$ 0

INTANGIBLE ASSETS AND GOODWIL_3

INTANGIBLE ASSETS AND GOODWILL - Additional Information (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense	$ 24,300,000	$ 1,000,000	$ 44,500,000	$ 3,300,000
Impairment charges	$ 0	$ 0	$ 0	$ 0

INTANGIBLE ASSETS AND GOODWIL_4

INTANGIBLE ASSETS AND GOODWILL - Estimated Remaining Intangible Asset Amortization (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
2020 - remaining period	$ 24,176
2021	95,421
2022	72,331
2023	50,295
2024	42,238
Thereafter	173,545
Net Carrying Amount	$ 458,006	$ 9,440

INTANGIBLE ASSETS AND GOODWIL_5

INTANGIBLE ASSETS AND GOODWILL - Goodwill (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2020USD ($)
Goodwill [Roll Forward]
Beginning balance	$ 47,453
Goodwill resulting from acquisitions	914,373
Effect of foreign currency translation	1,288
Ending balance	$ 960,420

RESTRUCTURING (Details)

RESTRUCTURING (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
RESTRUCTURING (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Restructuring Costs [Abstract]
Total restructuring expense	$ 1,362	$ 0	$ 11,095	$ 0
Severance and related benefits
Restructuring Costs [Abstract]
Restructuring charges			10,695
Non-cash charges			400
Total restructuring expense			11,095
Restructuring Reserve [Roll Forward]
Beginning balance			0
Restructuring charges			10,695
Cash payments			(7,786)
Effect of foreign currency translation			98
Ending balance	$ 3,007		$ 3,007

OTHER BALANCE SHEET AMOUNTS - P

OTHER BALANCE SHEET AMOUNTS - Property and Equipment (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 96,251		$ 96,251		$ 86,378
Less: accumulated depreciation and amortization	(62,359)		(62,359)		(49,852)
Total property and equipment, net	33,892		33,892		36,526
Depreciation expense	5,400	$ 3,000	14,300	$ 8,700
Computer equipment and software
Property, Plant and Equipment [Line Items]
Property and equipment, gross	64,342		$ 64,342		57,482
Computer equipment and software \| Minimum
Property, Plant and Equipment [Line Items]
Property and equipment, useful life			1 year
Computer equipment and software \| Maximum
Property, Plant and Equipment [Line Items]
Property and equipment, useful life			5 years
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Property and equipment, gross	6,898		$ 6,898		6,096
Furniture and fixtures \| Minimum
Property, Plant and Equipment [Line Items]
Property and equipment, useful life			3 years
Furniture and fixtures \| Maximum
Property, Plant and Equipment [Line Items]
Property and equipment, useful life			7 years
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 25,011		$ 25,011		$ 22,800
Leasehold improvements \| Minimum
Property, Plant and Equipment [Line Items]
Property and equipment, useful life			1 year
Leasehold improvements \| Maximum
Property, Plant and Equipment [Line Items]
Property and equipment, useful life			7 years

OTHER BALANCE SHEET AMOUNTS - A

OTHER BALANCE SHEET AMOUNTS - Accrued Expenses (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Balance Sheet Related Disclosures [Abstract]
Accrued compensation	$ 47,667	$ 33,626
Accrued commissions	13,329	18,834
Accrued interest	5,435	8,625
Other accrued expenses	24,234	16,990
Total accrued expenses	$ 90,665	$ 78,075

OTHER BALANCE SHEET AMOUNTS - N

OTHER BALANCE SHEET AMOUNTS - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Balance Sheet Related Disclosures [Abstract]
Commission expense benefit period			6 years
Commissions expense	$ 10.4	$ 10.4	$ 29.4	$ 27.8

FAIR VALUE OF FINANCIAL INSTR_3

FAIR VALUE OF FINANCIAL INSTRUMENTS - Summary of Asset and Liabilities Measured at Fair Value (Detail) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	$ 0	$ 148,089
Foreign currency forward contracts	43	0
Total	43	400,110
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	0	148,089
Foreign currency forward contracts	0	0
Total	0	152,026
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	0	0
Foreign currency forward contracts	43	0
Total	43	248,084
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	0	0
Foreign currency forward contracts	0	0
Total	0	0
Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0	122,648
Corporate bonds \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0	0
Corporate bonds \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0	122,648
Corporate bonds \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0	0
Agency bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0	3,968
Agency bonds \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0	0
Agency bonds \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0	3,968
Agency bonds \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0	0
US treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0	70,089
US treasury securities \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0	0
US treasury securities \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0	70,089
US treasury securities \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0	0
Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0	23,828
Commercial paper \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0	0
Commercial paper \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0	23,828
Commercial paper \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0	0
Certificates of deposit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0	3,937
Certificates of deposit \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0	3,937
Certificates of deposit \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0	0
Certificates of deposit \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0	0
Asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0	27,551
Asset-backed securities \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0	0
Asset-backed securities \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	0	27,551
Asset-backed securities \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	$ 0	$ 0

FAIR VALUE OF FINANCIAL INSTR_4

FAIR VALUE OF FINANCIAL INSTRUMENTS - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Sep. 30, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market funds, at carrying value	$ 148.1
Money market fund maturity date (or less)	3 months
Forward Contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notional amount		$ 4
Convertible Senior Notes At 5.75%, Maturing 2021 \| Convertible notes \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of convertible debt		$ 360

STOCKHOLDERS_ EQUITY (Details)

STOCKHOLDERS’ EQUITY (Details) - USD ($)	Oct. 01, 2020	Sep. 30, 2020	Dec. 31, 2019	Aug. 31, 2019
Equity [Abstract]
Common stock, shares authorized		1,000,000,000	1,000,000,000
Common stock, shares issued		64,554,401	61,037,517
Common stock, shares outstanding		64,554,401	61,037,517
Amount available for repurchase	$ 127,600,000	$ 0		$ 150,000,000

STOCK-BASED AWARDS - Stock Opti

STOCK-BASED AWARDS - Stock Option Activity (Detail) $ / shares in Units, shares in Thousands, $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2020USD ($)$ / sharesshares	Dec. 31, 2019USD ($)$ / sharesshares
Stock Options Outstanding, Shares
Shares outstanding, beginning of period (in shares) \| shares	2,851
Exercised (in shares) \| shares	(774)
Forfeited (in shares) \| shares	(174)
Shares outstanding, period end (in shares) \| shares	1,903	2,851
Stock Options Outstanding, Weighted Average Exercise Price
Weighted-average exercise price, outstanding at beginning of period (USD per share)	$ 30.97
Weighted average exercise price, exercised (USD per share)	12.09
Weighted average exercise price, forfeited (USD per share)	42.43
Weighted-average exercise price, outstanding at end of period (USD per share)	$ 37.62	$ 30.97
Stock Options, Additional Disclosures
Weighted-average remaining contractual term, outstanding	2 years 10 months 24 days	3 years 1 month 6 days
Aggregate intrinsic value, outstanding \| $	$ 9,347	$ 78,580
Exercisable at end of period (in shares) \| shares	1,903
Weighted average exercise price, exercisable at end of period (USD per share)	$ 37.62
Weighted-average remaining contractual term, exercisable	2 years 10 months 24 days
Aggregate intrinsic value, exercisable at end of period \| $	$ 9,347
Stock Options Vested and Expected to Vest
Vested and expected to vest at end of period (in shares) \| shares	1,903
Weighted average exercise price, vested and expected to vest at end of period (USD per share)	$ 37.62
Weighted-average remaining contractual term, vested and expected to vest	2 years 10 months 24 days
Aggregate intrinsic value, vested and expected to vest at end of period \| $	$ 9,347
Closing stock price (USD per share)	$ 36.36	$ 58.55

STOCK-BASED AWARDS - Additional

STOCK-BASED AWARDS - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Percent purchase price, grant date, ESPP			85.00%
Percent purchase price, exercise date, ESPP			85.00%
Number of shares issuable under plan (in shares)	4,326,341		4,326,341
Incentive stock options
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Stock options granted (in shares)	0	0	0	0
Restricted Stock Units (RSUs)
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Unrecognized compensation expense related to non-vested restricted stock units	$ 125.2		$ 125.2
Unrecognized compensation expense, expected recognition weighted average period			2 years 6 months
Performance Shares
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Unrecognized compensation expense, expected recognition weighted average period			1 year 7 months 6 days
Unrecognized compensation expense	$ 14.9		$ 14.9

STOCK-BASED AWARDS - Restricted

STOCK-BASED AWARDS - Restricted Stock and Performance-Based Stock Units (Details) shares in Thousands	9 Months Ended
	Sep. 30, 2020$ / sharesshares
Restricted Stock Units (RSUs)
Number of Shares
Number of shares, unvested Shares at beginning of period (in shares) \| shares	3,756
Number of shares, granted (in shares) \| shares	2,019
Number of shares, forfeited (in shares) \| shares	(296)
Number of shares, vested (in shares) \| shares	(1,502)
Number of shares, unvested Shares at period end (in share) \| shares	3,977
Weighted- Average Grant Date Fair Value
Weighted average grant date fair value, unvested shares at beginning of period (in usd per share) \| $ / shares	$ 47.76
Weighted average grant date fair value, granted (in usd per share) \| $ / shares	34.39
Weighted average grant date fair value, forfeited (in usd per share) \| $ / shares	46.69
Weighted average grant date fair value, vested (in usd per share) \| $ / shares	43.44
Weighted average grant date fair value, unvested shares at period end (in usd per share) \| $ / shares	$ 42.68
Performance Shares
Number of Shares
Number of shares, unvested Shares at beginning of period (in shares) \| shares	1,752
Number of shares, granted (in shares) \| shares	720
Number of shares, forfeited (in shares) \| shares	(261)
Number of shares, unvested Shares at period end (in share) \| shares	2,211
Weighted- Average Grant Date Fair Value
Weighted average grant date fair value, unvested shares at beginning of period (in usd per share) \| $ / shares	$ 44.21
Weighted average grant date fair value, granted (in usd per share) \| $ / shares	36.06
Weighted average grant date fair value, forfeited (in usd per share) \| $ / shares	40.69
Weighted average grant date fair value, unvested shares at period end (in usd per share) \| $ / shares	$ 41.97

STOCK-BASED AWARDS - Stock-Base

STOCK-BASED AWARDS - Stock-Based Compensation Expense (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Share based compensation expense	$ 17,924	$ 19,518	$ 55,197	$ 55,714
Cost of revenue
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Share based compensation expense	2,205	1,748	7,028	4,670
Sales and marketing
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Share based compensation expense	7,197	7,915	21,409	20,771
Research and development
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Share based compensation expense	4,283	4,285	11,807	12,800
General and administrative
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Share based compensation expense	4,047	5,570	14,553	17,473
Restructuring
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Share based compensation expense	$ 192	$ 0	$ 400	$ 0

INCOME TAXES (Detail)

INCOME TAXES (Detail) - USD ($) $ in Thousands	3 Months Ended			9 Months Ended
INCOME TAXES (Detail) - USD ($) $ in Thousands	Sep. 30, 2020	Jun. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Income Tax Contingency [Line Items]
Income tax (provision) benefit	$ (371)		$ (591)	$ 28,572	$ (2,227)
Effective income tax (in percent)	(2.40%)		(94.40%)	(40.80%)	19.80%
Saba Software, Inc.
Income Tax Contingency [Line Items]
Income tax (provision) benefit		$ 26,700
Increase in uncertain tax positions				$ 5,500

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details) - USD ($) $ in Millions	1 Months Ended
	Mar. 31, 2019	Sep. 30, 2020	Dec. 31, 2019
Other Commitments [Line Items]
Term of contract obligation	7 years
Contractual obligation		$ 81.2
Letter of Credit \| Other Contractual Arrangements
Other Commitments [Line Items]
Letters of credit outstanding		$ 9.4	$ 8.3

LEASES - Components of Lease Ex

LEASES - Components of Lease Expense (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Lessee, Lease, Description [Line Items]
Operating lease cost	$ 13,979	$ 11,613
Sublease income	(2,834)	(2,732)
Net lease cost	$ 11,145	$ 8,881
Minimum
Lessee, Lease, Description [Line Items]
Remaining lease terms	1 year
Optional extension period	1 year
Maximum
Lessee, Lease, Description [Line Items]
Remaining lease terms	12 years
Optional extension period	5 years

LEASES - Supplemental Cash Flow

LEASES - Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Leases [Abstract]
Cash paid for operating leases	$ 10,357	$ 9,639
Right-of-use assets obtained in exchange for lease obligations	$ 18,409	$ 5,452

LEASES - Supplemental Balance S

LEASES - Supplemental Balance Sheet Information of Operating Leases (Details)	Sep. 30, 2020	Dec. 31, 2019
Leases [Abstract]
Weighted-average remaining lease term	4 years 4 months 24 days	6 years
Weighted-average incremental borrowing rate	3.50%	3.30%

LEASES - Maturities of Operatin

LEASES - Maturities of Operating Lease Liabilities (Details) $ in Thousands	Sep. 30, 2020USD ($)
Leases [Abstract]
2020 – remaining period	$ 3,787
2021	20,908
2022	19,980
2023	18,864
2024	9,598
Thereafter	22,401
Total lease payments	95,538
Less: Imputed interest	(9,379)
Present value of operating lease liabilities	$ 86,159

REVENUE, DEFERRED REVENUE, AN_3

REVENUE, DEFERRED REVENUE, AND REMAINING PERFORMANCE OBLIGATIONS - Sources of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Segment Reporting Information [Line Items]
Total revenue	$ 199,498	$ 144,952	$ 533,992	$ 426,929
Subscription revenue \| Product Concentration Risk
Segment Reporting Information [Line Items]
Total revenue	185,643	137,446	507,281	401,264
Professional services revenue \| Product Concentration Risk
Segment Reporting Information [Line Items]
Total revenue	$ 13,855	$ 7,506	$ 26,711	$ 25,665

REVENUE, DEFERRED REVENUE, AN_4

REVENUE, DEFERRED REVENUE, AND REMAINING PERFORMANCE OBLIGATIONS - Revenue by Geographic Area (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Segment Reporting Information [Line Items]
Total revenue	$ 199,498	$ 144,952	$ 533,992	$ 426,929
United States \| Geographic Concentration Risk
Segment Reporting Information [Line Items]
Total revenue	123,907	94,880	341,210	278,157
All other countries \| Geographic Concentration Risk
Segment Reporting Information [Line Items]
Total revenue	$ 75,591	$ 50,072	$ 192,782	$ 148,772

REVENUE, DEFERRED REVENUE, AN_5

REVENUE, DEFERRED REVENUE, AND REMAINING PERFORMANCE OBLIGATIONS - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Segment Reporting Information [Line Items]
Revenue recognized	$ 168.2	$ 127.1	$ 306.9	$ 286.7
Revenue expected to be recognized from remaining obligations	$ 1,134		$ 1,134
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-10-01
Segment Reporting Information [Line Items]
Percentage of revenue expected to be recognized.	70.00%		70.00%
Period within obligations expected to be recognized (in months)	18 months		18 months

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Related Party Transactions [Abstract]
Services provided to related party at no charge	$ 0.7	$ 0.8	$ 2.5	$ 2.8

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details) $ in Millions	1 Months Ended
SUBSEQUENT EVENTS (Details) $ in Millions	Nov. 05, 2020USD ($)
Subsequent Event \| Senior Secured First lien Term Loan B Facility
Subsequent Event [Line Items]
Repayments of term loan	$ 50

Uncategorized Items - csod-2020

Label	Element	Value
Restricted Cash, Current	us-gaap_RestrictedCashCurrent	$ 3,752,000
Restricted Cash, Current	us-gaap_RestrictedCashCurrent	0
Restricted Cash, Noncurrent	us-gaap_RestrictedCashNoncurrent	0
Restricted Cash, Noncurrent	us-gaap_RestrictedCashNoncurrent	$ 1,276,000