HubSpot (HUBS) 10-Q 13 Nov 14 2014 Q3 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	9 Months Ended
	Sep. 30, 2014	Oct. 31, 2014
Document And Entity Information [Abstract]	'	'
Document Type	'10-Q	'
Amendment Flag	'false	'
Document Period End Date	30-Sep-14	'
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q3	'
Trading Symbol	'HUBS	'
Entity Registrant Name	'HubSpot Inc	'
Entity Central Index Key	'0001404655	'
Current Fiscal Year End Date	'--12-31	'
Entity Filer Category	'Non-accelerated Filer	'
Entity Common Stock, Shares Outstanding	'	31,390,213

Consolidated_Balance_Sheets

Consolidated Balance Sheets (USD $)	Sep. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Current assets:	'	'
Cash	$12,379	$12,643
Accounts receivable - net of allowance for doubtful accounts of $166, and $175 at September 30, 2014 and December 31, 2013, respectively	10,504	7,220
Deferred commission expense	4,837	3,991
Restricted cash	'	307
Prepaid hosting costs	918	2,958
Prepaid expenses and other current assets	3,370	1,566
Total current assets	32,008	28,685
Property and equipment, net	9,874	7,243
Capitalized software development costs, net	4,805	3,479
Restricted cash	240	1,610
Other assets	2,579	65
Intangible assets, net	102	147
Goodwill	9,330	9,330
Total assets	58,938	50,559
Current liabilities:	'	'
Accounts payable	2,187	2,547
Accrued compensation costs	4,837	5,079
Other accrued expenses	8,609	7,160
Capital lease obligations	98	96
Deferred rent	67	'
Deferred revenue	34,134	24,662
Total current liabilities	49,932	39,544
Capital lease obligations, net of current portion	104	203
Revolving line of credit	18,000	'
Deferred rent, net of current portion	4,110	2,523
Deferred revenue, net of current portion	538	244
Total liabilities	72,684	42,514
Commitments and contingencies (Note 7)	'	'
Redeemable convertible preferred stock	101,332	101,293
Stockholders' deficit:	'	'
Common stock	6	5
Additional paid-in capital	19,627	12,898
Accumulated other comprehensive loss	-106	-79
Accumulated deficit	-134,605	-106,072
Total stockholders' deficit	-115,078	-93,248
Total liabilities, redeemable convertible preferred stock and stockholders' deficit	$58,938	$50,559

Consolidated_Balance_Sheets_Pa

Consolidated Balance Sheets (Parenthetical) (USD $)	Sep. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Statement of Financial Position [Abstract]	'	'
Accounts receivable, net of allowance for doubtful accounts	$166	$175

Consolidated_Statements_of_Ope

Consolidated Statements of Operations (USD $)	3 Months Ended		9 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Revenues:	'	'	'	'
Subscription	$27,806	$18,416	$74,994	$50,245
Professional services and other	2,642	1,763	6,726	5,010
Total revenue	30,448	20,179	81,720	55,255
Cost of Revenues:	'	'	'	'
Subscription	6,736	5,114	18,408	14,911
Professional services and other	2,969	2,268	8,149	6,273
Total cost of revenues	9,705	7,382	26,557	21,184
Gross profit	20,743	12,797	55,163	34,071
Operating expenses:	'	'	'	'
Research and development	4,858	4,271	14,498	10,962
Sales and marketing	21,680	14,739	54,700	38,764
General and administrative	5,162	3,287	14,622	10,228
Total operating expenses	31,700	22,297	83,820	59,954
Loss from operations	-10,957	-9,500	-28,657	-25,883
Other income (expense):	'	'	'	'
Interest income	'	7	4	29
Interest expense	-138	'	-259	-3
Other income (expense)	302	-18	379	8
Total other income (expense)	164	-11	124	34
Net loss	-10,793	-9,511	-28,533	-25,849
Preferred stock accretion	13	13	40	40
Net loss attributable to common stockholders	($10,806)	($9,524)	($28,573)	($25,889)
Net loss attributable to common stockholders per share, basic and diluted	($1.84)	($1.85)	($5)	($5.09)
Weighted average common shares used in computing basic and diluted net loss attributable to common stockholders per share:	5,874	5,141	5,715	5,087

Consolidated_Statements_of_Com

Consolidated Statements of Comprehensive Loss (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Statement of Comprehensive Income [Abstract]	'	'	'	'
Net loss	($10,793)	($9,511)	($28,533)	($25,849)
Other comprehensive loss:	'	'	'	'
Foreign currency translation adjustment	-25	-21	-27	-47
Comprehensive loss	($10,818)	($9,532)	($28,560)	($25,896)

Consolidated_Statements_of_Cas

Consolidated Statements of Cash Flows (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013
Operating Activities:	'	'
Net loss	($28,533)	($25,849)
Adjustments to reconcile net loss to net cash used in operating activities	'	'
Depreciation and amortization	4,824	3,157
Stock-based compensation	3,514	2,395
Provision for doubtful accounts	452	381
Noncash rent expense	236	537
Unrealized currency translation	-238	-11
Changes in assets and liabilities	'	'
Accounts receivable	-3,864	-1,747
Prepaid expenses and other assets	146	-966
Deferred commission expense	-846	-799
Accounts payable	-328	84
Accrued expenses	2,192	2,164
Restricted cash	157	'
Deferred rent	1,427	194
Deferred revenue	10,149	6,571
Net cash used in operating activities	-10,712	-13,889
Investing Activities:	'	'
Purchases of property and equipment	-5,892	-3,385
Capitalization of software development costs	-3,930	-2,451
Acquisition of intangible assets	-80	-190
Restricted cash	1,500	-1,188
Net cash used in investing activities	-8,402	-7,214
Financing Activities:	'	'
Proceeds from exercise of options	3,051	273
Proceeds from draw-down on line of credit	18,000	'
Payment of initial public offering costs	-1,990	'
Repayments of capital lease obligations	-97	-52
Net cash provided by financing activities	18,964	221
Effect of exchange rate changes on cash	-114	11
Net decrease in cash	-264	-20,871
Cash, beginning of period	12,643	41,097
Cash, end of period	12,379	20,226
Supplemental cash flow disclosure:	'	'
Cash paid for interest	163	3
Non-cash investing and financing activities:	'	'
Initial public offering costs incurred but not yet paid	522	'
Capital expenditures incurred but not yet paid	182	28
Accretion of preferred stock	$40	$40

Organization_and_Operations

Organization and Operations	9 Months Ended
	Sep. 30, 2014
Accounting Policies [Abstract]	'
Organization and Operations	'
	1. Organization and Operations
	HubSpot, Inc. (the “Company”), was formed as a limited liability company in Delaware on April 4, 2005. The Company converted to a Delaware corporation on June 7, 2007. The Company provides a cloud-based inbound marketing and sales platform which features integrated applications to help businesses attract visitors to their websites, convert visitors into leads, close leads into customers and delight customers so they become promoters of those businesses. These integrated applications include social media, search engine optimization, blogging, website content management, marketing automation, email, CRM, analytics, and reporting.
	The Company is headquartered in Cambridge, Massachusetts, and has wholly-owned subsidiaries in Dublin, Ireland, which commenced operations in January of 2013 and in Sydney, Australia, which commenced operations in August of 2014.
	On October 15, 2014, the Company closed its initial public offering (“IPO”) whereby 5,750,000 shares of common stock were sold to the public, including the underwriters’ overallotment option of 750,000 shares of common stock, at a price of $25.00 per share. The Company received aggregate proceeds of approximately $133.7 million from the IPO, net of underwriters’ discounts and commissions, but before deduction of offering expenses of approximately $2.7 million. Upon the closing of the IPO, all shares of the Company’s outstanding convertible preferred stock automatically converted into 19,529,713 shares of common stock.
	All restricted stock units, or RSUs, granted to employees prior to the IPO vest upon the satisfaction of both a service condition and a performance condition. These RSUs with both a service condition and performance condition are collectively referred to as “Performance Awards” in the following discussion. The service condition for a majority of the Performance Awards is satisfied over a period of four years. The performance condition will be satisfied on the date that is six months following our IPO. No stock-based compensation expense had been recognized for the Performance Awards prior to the IPO because an IPO is not considered probable until it occurs, During the three months ended December 31, 2014, we will begin recording stock-based compensation expense based on the grant-date fair value of the RSUs using the accelerated attribution method, net of estimated forfeitures
	The accompanying unaudited consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States (“GAAP”) applicable to interim periods, under the rules and regulations of the United States Securities and Exchange Commission (“SEC”), and on a basis substantially consistent with the audited consolidated financial statements of the Company as of and for the fiscal year ended December 31, 2013. All intercompany balances and transactions have been eliminated in consolidation. The results of operations for the interim periods presented are not necessarily indicative of the results to be expected for any subsequent quarter or for the entire year ending December 31, 2014. The year-end balance sheet data was derived from audited financial statements, but does not include all disclosures required GAAP. Certain information and note disclosures normally included in annual financial statements prepared in accordance with GAAP have been omitted under the rules and regulations of the Securities and Exchange Commission (SEC).
	These interim financial statements should be read in conjunction with the audited consolidated financial statements and related notes contained in the final prospectus related to the Company’s IPO, which was filed with the SEC pursuant to Rule 424(b) of the Securities Act of 1933, as amended, on October 9, 2014 (the “Prospectus”). There have been no changes in the Company’s significant accounting policies from those that were disclosed in the Prospectus that have had a material impact on our consolidated financial statements and related notes. These significant accounting policies include the following:
		•	Basis of Presentation
		•	Use of Estimates
		•	Impairment of Long-lived Assets
		•	Goodwill
		•	Revenue Recognition
		•	Foreign Currency
		•	Income Taxes
	Recent Accounting Pronouncements
	In May 2014, the Financial Accounting Standards Board issued updated guidance and disclosure requirements for recognizing revenue. The new revenue recognition standard provides a five-step analysis of transactions to determine when and how revenue is recognized. The core principle is that a company should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. This guidance will be effective for the Company on January 1, 2017 and may be applied retrospectively to each period presented or as a cumulative-effect adjustment as of the date of adoption. The Company is evaluating the potential impact of adopting this new accounting guidance.
	In June 2014, the Financial Accounting Standards Board issued a standards update on accounting for share-based payments when the terms of the award provide that a performance target could be achieved after a requisite service period. The standard is effective beginning January 1, 2016, with early adoption permitted. We do not expect it to have a material impact on our consolidated financial position, results of operations or cash flows.

Net_Loss_per_Share

Net Loss per Share	9 Months Ended
	Sep. 30, 2014
Earnings Per Share [Abstract]	'
Net Loss per Share	'
	2. Net Loss per Share
	Basic net loss attributable to common stockholders per share is computed by dividing net loss attributable to common stockholders by the weighted average number of common shares outstanding for the period. Diluted net loss attributable to common stockholders per share is computed by giving effect to all potential dilutive common stock equivalents outstanding for the period. For purposes of this calculation, options to purchase common stock, common stock warrants, restricted stock units (“RSUs”) and redeemable convertible preferred stock are considered to be common stock equivalents. The Company applied the two-class method to calculate its basic and diluted net loss per share of common stock, as its convertible preferred stock and common stock are participating securities. The two-class method is an earnings allocation formula that treats a participating security as having rights to earnings that otherwise would have been available to common stockholders. However, the two-class method does not impact the net loss per share of common stock as the Company was in a loss position for each of the periods presented and preferred stockholders do not participate in losses.
	A reconciliation of the denominator used in the calculation of basic and diluted loss attributable to common stockholders per share is as follows:
		Three Months						Nine Months
		Ended September 30,						Ended September 30,
		2014			2013			2014			2013
		(in thousands, except per share amount)
	Net loss attributable to common stockholders	$	(10,806	)	$	(9,524	)	$	(28,573	)	$	(25,889	)
	Weighted-average common shares outstanding — basic		5,874			5,141			5,715			5,087
	Dilutive effect of share equivalents resulting from stock options, RSUs, common stock warrants, and redeemable convertible preferred shares (as converted)		—			—			—			—
	Weighted-average common shares, outstanding — diluted		5,874			5,141			5,715			5,087
	Net loss attributable to common stockholders per share, basic and diluted	$	(1.84	)	$	(1.85	)	$	(5.00	)	$	(5.09	)
	Additionally, since the Company incurred net losses for each of the periods presented, diluted net loss attributable to common stockholders per share is the same as basic net loss attributable to common stockholders per share. The Company’s outstanding stock options, RSUs, common stock warrants, and redeemable convertible preferred stock were not included in the calculation of diluted loss attributable to common stockholders per share as the effect would be anti-dilutive. The following table contains all potentially dilutive common stock equivalents.
		As of September 30,
		2014			2013
		(in thousands)
	Options to purchase common shares		4,669			4,444
	Common stock warrants		13			13
	Convertible preferred stock (as converted)		19,530			19,530
	RSUs		1,361			750

Property_and_Equipment_Net

Property and Equipment, Net	9 Months Ended
	Sep. 30, 2014
Property, Plant and Equipment [Abstract]	'
Property and Equipment, Net	'
	3. Property and Equipment, Net
	Property and equipment, net consists of the following:
		September 30,			December 31,
		2014			2013
		(in thousands)
	Computer equipment & purchased software	$	1,808		$	1,504
	Furniture and fixtures		2,884			2,106
	Office equipment		1,083			990
	Leasehold improvements		9,117			5,845
	Equipment under capital lease		570			562
	Total property and equipment		15,462			11,007
	Less accumulated depreciation		(5,588	)		(3,764	)
	Property and equipment, net	$	9,874		$	7,243
	Depreciation expense was $702 thousand for the three months ended September 30, 2014, $385 thousand for the three months ended September 30, 2013, $1,866 thousand for the nine months ended September 30, 2014, and $1,074 thousand for the nine months ended September 30, 2013.

Capitalized_Software_Developme

Capitalized Software Development Costs	9 Months Ended
	Sep. 30, 2014
Research and Development [Abstract]	'
Capitalized Software Development Costs	'
	4. Capitalized Software Development Costs
	Capitalized software development costs consisted of the following:
		September 30,			December 31,
		2014			2013
		(in thousands)
	Gross capitalized software development costs	$	13,490		$	9,351
	Accumulated amortization		(8,685	)		(5,872	)
	Capitalized software development costs, net	$	4,805		$	3,479
	The following table summarizes software development costs capitalized, stock-based compensation included in capitalized software development costs, and amortization of capitalized software development costs:
		Three Months Ended						Nine Months Ended
		September 30						September 30
		2014			2013			2014		2013
		(in thousands)						(in thousands)
	Software development costs capitalized	$	1,641		$	984		$	4,139	$	2,643
	Stock-based compensation included in capitalized software development costs		83			71			209		193
	Amortization of software development costs	$	1,062		$	679		$	2,813	$	1,875

Restricted_Cash

Restricted Cash	9 Months Ended
	Sep. 30, 2014
Cash and Cash Equivalents [Abstract]	'
Restricted Cash	'
	5. Restricted Cash
	The Company had restricted cash of $240 thousand at September 30, 2014 related to a leased facility. The Company had restricted cash of $1.9 million at December 31, 2013 which included $1.8 million for letters of credit for the Company’s leased facilities and $157 thousand in collateral for the Company’s corporate credit card borrowings. During the first nine months of 2014 the Company released from restrictions $1.7 million of cash, which includes the $157 thousand in collateral related to the Company’s corporate credit card borrowings and $1.5 million related to its leased facilities.

Credit_Facility

Credit Facility	9 Months Ended
	Sep. 30, 2014
Debt Disclosure [Abstract]	'
Credit Facility	'
	6. Credit Facility
	In March 2014, the Company executed the third amendment to its amended and restated loan agreement (the “Loan Agreement”). The Company’s growth capital line of credit (the “Growth Capital Line”) was extended with borrowings available through December 2014 and repayable over thirty months through June 2017. Additionally, the Company’s revolving line of credit (the “Revolving Line”) was increased to $30.0 million and is payable in full in March 2016.
	In September 2014, the Company amended its Loan Agreement to combine its $5.0 million Growth Capital Line and $30.0 million Revolving Line into a single $35.0 million Revolving Line. The interest rate on the new Revolving Line is the bank’s prime rate plus 0.5% and is due in full in March 2016. The Company had a total outstanding amount of $18.0 million at September 30, 2014. Prior to its IPO, the Company is required to meet minimum quarterly subscription revenue covenants, which increases throughout the life of the Loan Agreement. As of September 30, 2014, the Company was in compliance with this requirement.
	In October 2014, in connection with the Company’s IPO (Note 12), the Company paid off the $18.0 million outstanding balance under the Revolving Line.

Commitments_and_Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2014
Commitments and Contingencies Disclosure [Abstract]	'
Commitments and Contingencies	'
	7. Commitments and Contingencies
	There were no material changes in our commitments under contractual obligations, as disclosed in the Company’s audited consolidated financial statements for the year ended December 31, 2013.
	Legal Contingencies
	The Company is, from time to time, a party to litigation that arises in the normal course of its business operations. On November 13, 2013, a class action complaint was filed, alleging that the Company maintained a policy of not paying overtime to business development representatives for all hours worked in excess of 40 hours per week. The Company settled this litigation in November 2014 for an immaterial amount.
	On September 23, 2014 the Company was sent a communication alleging, among other things, that an email tracking feature in the Company’s Sidekick product infringes upon certain patents of a third-party. Based on information currently available, the Company believes that this contingency will not have material impact on its business or consolidated financial statements.

Changes_in_Accumulated_Other_C

Changes in Accumulated Other Comprehensive Loss	9 Months Ended
	Sep. 30, 2014
Equity [Abstract]	'
Changes in Accumulated Other Comprehensive Loss	'
	8. Changes in Accumulated Other Comprehensive Loss
	The following table summarizes the changes in accumulated other comprehensive loss, which is reported as a component of stockholders’ deficit, for the nine months ended September 30, 2014.
		Foreign
		Currency Items
		(in thousands)
	Beginning balance at January 1, 2014	$	(79	)
	Other comprehensive income before reclassifications		(27	)
	Amounts reclassified from accumulated other comprehensive income		—
	Ending balance at September 30, 2014	$	(106	)

Reverse_Stock_Split

Reverse Stock Split	9 Months Ended
	Sep. 30, 2014
Equity [Abstract]	'
Reverse Stock Split	'
	9. Reverse Stock Split
	On September 25, 2014, the Company’s Board of Directors and stockholders approved a 1-for-3 reverse stock split of the Company’s common stock. The reverse stock split became effective on September 25, 2014. Upon the effectiveness of the reverse stock split, (i) every three shares of outstanding common stock was combined into one share of common stock, (ii) the number of shares of common stock into which each outstanding warrant or option to purchase common stock is exercisable was proportionally decreased, (iii) the exercise price of each outstanding warrant or option to purchase common stock was proportionately increased, and (iv) the conversion ratio for each share of preferred stock outstanding was proportionately reduced. Unless otherwise indicated, all of the share numbers, share prices and exercise prices in these consolidated financial statements have been adjusted, on a retroactive basis, to reflect this 1-for-3 reverse stock split.

StockBased_Compensation_Expens

Stock-Based Compensation Expense	9 Months Ended
	Sep. 30, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]	'
Stock-Based Compensation Expense	'
	10. Stock-Based Compensation Expense
	The following two tables show stock compensation expense by award type and where the stock compensation expense is recorded in the Company’s consolidated statements of operations:
		Three Months Ended				Nine Months Ended
		September 30,				September 30,
		2014		2013		2014		2013
		(in thousands)				(in thousands)
	Options	$	1,266	$	693	$	3,514	$	2,011
	Vesting of restricted stock		—		128		—		384
	Total stock based compensation	$	1,266	$	821	$	3,514	$	2,395
	Effect of stock-based compensation on income by line item:
		Three Months Ended				Nine Months Ended
		September 30,				September 30,
		2014		2013		2014		2013
		(in thousands)				(in thousands)
	Cost of revenue, subscription	$	24	$	6	$	64	$	26
	Cost of revenue, service		84		56		236		122
	Research and development		140		189		435		558
	Sales and marketing		560		278		1,447		766
	General and administrative		458		292		1,332		923
	Total stock based compensation	$	1,266	$	821	$	3,514	$	2,395
	Excluded from stock-based compensation expense is $83 thousand of capitalized software development costs for the three months ended September 30, 2014, $71 thousand for the three months ended September 30, 2013 $209 thousand for the nine months ended September 30, 2014, and $193 thousand for the nine months ended September 30, 2013.

Segment_Information_and_Geogra

Segment Information and Geographic Data	9 Months Ended
	Sep. 30, 2014
Segment Reporting [Abstract]	'
Segment Information and Geographic Data	'
	11. Segment Information and Geographic Data
	The Company operates as one operating segment. Operating segments are defined as components of an enterprise for which separate financial information is regularly evaluated by the chief operating decision makers (“CODMs”), which are the Company’s chief executive officer and chief operating officer, in deciding how to allocate resources and assess performance. The Company’s CODMs evaluate the Company’s financial information and resources and assess the performance of these resources on a consolidated basis. Since the Company operates in one operating segment, all required financial segment information can be found in the consolidated financial statements. Revenue and long-lived assets by geographic region, based on the physical location of the operations recording the sale or the asset, are as follows:
	Revenues by geographical region (in thousands):
		Three Months						Nine Months
		Ended September 30,						Ended September 30,
		2014			2013			2014			2013
		(in thousands)
	United States	$	27,008		$	19,200		$	73,349		$	53,637
	Ireland		3,420			979			8,351			1,618
	Australia		20			—			20			—
	Total	$	30,448		$	20,179		$	81,720		$	55,255
	Percentage of revenues generated outside of the United States		11	%		5	%		10	%		3	%
	Total long lived assets by geographical region (in thousands):
		As of September 30,			As of December 31
		2014			2013
	United States	$	9,170		$	6,775
	Ireland		701			468
	Australia		3			—
	Total Long Lived Assets	$	9,874		$	7,243
	Percentage of long lived assets held outside of the United States		7	%		6	%

Subsequent_Events

Subsequent Events	9 Months Ended
	Sep. 30, 2014
Subsequent Events [Abstract]	'
Subsequent Events	'
	12. Subsequent Events
	On October 15, 2014 the Company closed its IPO whereby 5,750,000 shares of common stock were sold to the public, including the underwriters’ overallotment option of 750,000 shares of common stock, at a price of $25.00 per share. The Company received aggregate proceeds of approximately $133.7 million from the IPO, net of underwriters’ discounts and commissions, but before deduction of offering expenses of approximately $2.7 million. Upon the closing of the IPO, all shares of the Company’s outstanding convertible preferred stock automatically converted into 19,529,713 shares of common stock. The Company used $18 million of the IPO proceeds to pay down its revolving line.

Net_Loss_per_Share_Tables

Net Loss per Share (Tables)	9 Months Ended
	Sep. 30, 2014
Earnings Per Share [Abstract]	'
Reconciliation of Basic and Diluted Loss Attributable to Common Stockholders Per Share	'
	A reconciliation of the denominator used in the calculation of basic and diluted loss attributable to common stockholders per share is as follows:
		Three Months						Nine Months
		Ended September 30,						Ended September 30,
		2014			2013			2014			2013
		(in thousands, except per share amount)
	Net loss attributable to common stockholders	$	(10,806	)	$	(9,524	)	$	(28,573	)	$	(25,889	)
	Weighted-average common shares outstanding — basic		5,874			5,141			5,715			5,087
	Dilutive effect of share equivalents resulting from stock options, RSUs, common stock warrants, and redeemable convertible preferred shares (as converted)		—			—			—			—
	Weighted-average common shares, outstanding — diluted		5,874			5,141			5,715			5,087
	Net loss attributable to common stockholders per share, basic and diluted	$	(1.84	)	$	(1.85	)	$	(5.00	)	$	(5.09	)
Schedule of Potentially Dilutive Common Stock Equivalents	'
	The following table contains all potentially dilutive common stock equivalents.
		As of September 30,
		2014			2013
		(in thousands)
	Options to purchase common shares		4,669			4,444
	Common stock warrants		13			13
	Convertible preferred stock (as converted)		19,530			19,530
	RSUs		1,361			750

Property_and_Equipment_Net_Tab

Property and Equipment, Net (Tables)	9 Months Ended
	Sep. 30, 2014
Property, Plant and Equipment [Abstract]	'
Schedule of Property and Equipment	'
	Property and equipment, net consists of the following:
		September 30,			December 31,
		2014			2013
		(in thousands)
	Computer equipment & purchased software	$	1,808		$	1,504
	Furniture and fixtures		2,884			2,106
	Office equipment		1,083			990
	Leasehold improvements		9,117			5,845
	Equipment under capital lease		570			562
	Total property and equipment		15,462			11,007
	Less accumulated depreciation		(5,588	)		(3,764	)
	Property and equipment, net	$	9,874		$	7,243

Capitalized_Software_Developme1

Capitalized Software Development Costs (Tables)	9 Months Ended
	Sep. 30, 2014
Research and Development [Abstract]	'
Summary of Capitalized Software Development Costs	'
	Capitalized software development costs consisted of the following:
		September 30,			December 31,
		2014			2013
		(in thousands)
	Gross capitalized software development costs	$	13,490		$	9,351
	Accumulated amortization		(8,685	)		(5,872	)
	Capitalized software development costs, net	$	4,805		$	3,479
Summary of Capitalized Software Development Costs Including Stock-Based Compensation and Amortization	'
	The following table summarizes software development costs capitalized, stock-based compensation included in capitalized software development costs, and amortization of capitalized software development costs:
		Three Months Ended						Nine Months Ended
		September 30						September 30
		2014			2013			2014		2013
		(in thousands)						(in thousands)
	Software development costs capitalized	$	1,641		$	984		$	4,139	$	2,643
	Stock-based compensation included in capitalized software development costs		83			71			209		193
	Amortization of software development costs	$	1,062		$	679		$	2,813	$	1,875

Changes_in_Accumulated_Other_C1

Changes in Accumulated Other Comprehensive Loss (Tables)	9 Months Ended
	Sep. 30, 2014
Equity [Abstract]	'
Changes in Accumulated Other Comprehensive Loss	'
	The following table summarizes the changes in accumulated other comprehensive loss, which is reported as a component of stockholders’ deficit, for the nine months ended September 30, 2014.
		Foreign
		Currency Items
		(in thousands)
	Beginning balance at January 1, 2014	$	(79	)
	Other comprehensive income before reclassifications		(27	)
	Amounts reclassified from accumulated other comprehensive income		—
	Ending balance at September 30, 2014	$	(106	)

StockBased_Compensation_Expens1

Stock-Based Compensation Expense (Tables)	9 Months Ended
	Sep. 30, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]	'
Stock Compensation Expense by Award is Recorded in the Company's Consolidated Statements of Operations	'
	The following two tables show stock compensation expense by award type and where the stock compensation expense is recorded in the Company’s consolidated statements of operations:
		Three Months Ended				Nine Months Ended
		September 30,				September 30,
		2014		2013		2014		2013
		(in thousands)				(in thousands)
	Options	$	1,266	$	693	$	3,514	$	2,011
	Vesting of restricted stock		—		128		—		384
	Total stock based compensation	$	1,266	$	821	$	3,514	$	2,395
Effect of Stock-Based Compensation on Income by Line Item	'
	Effect of stock-based compensation on income by line item:
		Three Months Ended				Nine Months Ended
		September 30,				September 30,
		2014		2013		2014		2013
		(in thousands)				(in thousands)
	Cost of revenue, subscription	$	24	$	6	$	64	$	26
	Cost of revenue, service		84		56		236		122
	Research and development		140		189		435		558
	Sales and marketing		560		278		1,447		766
	General and administrative		458		292		1,332		923
	Total stock based compensation	$	1,266	$	821	$	3,514	$	2,395

Segment_Information_and_Geogra1

Segment Information and Geographic Data (Tables)	9 Months Ended
	Sep. 30, 2014
Segment Reporting [Abstract]	'
Revenues by Geographical Region	'
	Revenues by geographical region (in thousands):
		Three Months						Nine Months
		Ended September 30,						Ended September 30,
		2014			2013			2014			2013
		(in thousands)
	United States	$	27,008		$	19,200		$	73,349		$	53,637
	Ireland		3,420			979			8,351			1,618
	Australia		20			—			20			—
	Total	$	30,448		$	20,179		$	81,720		$	55,255
	Percentage of revenues generated outside of the United States		11	%		5	%		10	%		3	%
Long Lived Assets by Geographical Region	'
	Total long lived assets by geographical region (in thousands):
		As of September 30,			As of December 31
		2014			2013
	United States	$	9,170		$	6,775
	Ireland		701			468
	Australia		3			—
	Total Long Lived Assets	$	9,874		$	7,243
	Percentage of long lived assets held outside of the United States		7	%		6	%

Organization_and_Operations_Ad

Organization and Operations - Additional Information (Detail) (USD $)	9 Months Ended	0 Months Ended
	Sep. 30, 2014	Oct. 15, 2014	Oct. 15, 2014	Oct. 15, 2014	Oct. 15, 2014
		Subsequent Event [Member]	Subsequent Event [Member]	Subsequent Event [Member]	Subsequent Event [Member]
			IPO [Member]	IPO [Member]	Over-Allotment Option [Member]
Summary Of Organization And Operations [Line Items]	'	'	'	'	'
Number of shares issued to public	'	'	'	5,750,000	750,000
Issued price per share of common stock	'	'	'	$25	'
Aggregate proceeds from IPO	'	$133,700,000	'	'	'
Share offering expenses	'	'	2,700,000	'	'
Number of preferred stock converted to common stock	'	19,529,713	'	'	'
Stock-based compensation expense	$0	'	'	'	'

Net_Loss_per_Share_Summary_of_

Net Loss per Share - Summary of Reconciliation of Basic and Diluted Loss Attributable to Common Stockholders Per Share (Detail) (USD $)	3 Months Ended		9 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Earnings Per Share, Basic and Diluted [Abstract]	'	'	'	'
Net loss attributable to common stockholders	($10,806)	($9,524)	($28,573)	($25,889)
Weighted-average common shares outstanding - basic	5,874	5,141	5,715	5,087
Dilutive effect of share equivalents resulting from stock options, RSUs, common stock warrants, and redeemable convertible preferred shares (as converted)	'	'	'	'
Weighted-average common shares, outstanding - diluted	5,874	5,141	5,715	5,087
Net loss attributable to common stockholders per share, basic and diluted	($1.84)	($1.85)	($5)	($5.09)

Net_Loss_per_Share_Schedule_of

Net Loss per Share - Schedule of Potentially Dilutive Common Stock Equivalents (Detail)	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013
Options to Purchase Common Shares [Member]	'	'
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]	'	'
Antidilutive securities excluded from computation of earnings per share	4,669	4,444
Common Stock Warrants [Member]	'	'
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]	'	'
Antidilutive securities excluded from computation of earnings per share	13	13
Convertible Preferred Stock [Member]	'	'
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]	'	'
Antidilutive securities excluded from computation of earnings per share	19,530	19,530
RSUs [Member]	'	'
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]	'	'
Antidilutive securities excluded from computation of earnings per share	1,361	750

Property_and_Equipment_Net_Sch

Property and Equipment, Net - Schedule of Property and Equipment (Detail) (USD $)	Sep. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Property, Plant and Equipment [Line Items]	'	'
Total property and equipment	$15,462	$11,007
Less accumulated depreciation	-5,588	-3,764
Property and equipment, net	9,874	7,243
Computer Equipment & Purchased Software [Member]	'	'
Property, Plant and Equipment [Line Items]	'	'
Total property and equipment	1,808	1,504
Furniture and Fixtures [Member]	'	'
Property, Plant and Equipment [Line Items]	'	'
Total property and equipment	2,884	2,106
Office Equipment [Member]	'	'
Property, Plant and Equipment [Line Items]	'	'
Total property and equipment	1,083	990
Leasehold Improvements [Member]	'	'
Property, Plant and Equipment [Line Items]	'	'
Total property and equipment	9,117	5,845
Equipment Under Capital Lease [Member]	'	'
Property, Plant and Equipment [Line Items]	'	'
Total property and equipment	$570	$562

Property_and_Equipment_Net_Add

Property and Equipment, Net - Additional Information (Detail) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Property, Plant and Equipment [Line Items]	'	'	'	'
Depreciation expense	'	'	$4,824	$3,157
Property and Equipment [Member]	'	'	'	'
Property, Plant and Equipment [Line Items]	'	'	'	'
Depreciation expense	$702	$385	$1,866	$1,074

Capitalized_Software_Developme2

Capitalized Software Development Costs - Summary of Capitalized Software Development Costs (Detail) (USD $)	Sep. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Capitalized Computer Software, Net [Abstract]	'	'
Gross capitalized software development costs	$13,490	$9,351
Accumulated amortization	-8,685	-5,872
Capitalized software development costs, net	$4,805	$3,479

Capitalized_Software_Developme3

Capitalized Software Development Costs - Summary of Capitalized Software Development Costs Including Stock-Based Compensation and Amortization (Detail) (Software Development [Member], USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Software Development [Member]	'	'	'	'
Capitalized Computer Software [Line Items]	'	'	'	'
Software development costs capitalized	$1,641	$984	$4,139	$2,643
Stock-based compensation included in capitalized software development costs	83	71	209	193
Amortization of software development costs	$1,062	$679	$2,813	$1,875

Restricted_Cash_Additional_Inf

Restricted Cash - Additional Information (Detail) (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Dec. 31, 2013
Restricted Cash and Cash Equivalents Items [Line Items]	'	'
Collateral for borrowings	$240	$1,900
Amount released from restrictions	1,700	'
Letter of Credit [Member]	'	'
Restricted Cash and Cash Equivalents Items [Line Items]	'	'
Collateral for borrowings	'	1,800
Amount released from restrictions	1,500	'
Corporate Credit Card [Member]	'	'
Restricted Cash and Cash Equivalents Items [Line Items]	'	'
Collateral for borrowings	'	157
Amount released from restrictions	$157	'

Credit_Facility_Additional_Inf

Credit Facility - Additional Information (Detail) (USD $)	Sep. 30, 2014	Sep. 30, 2014	Sep. 30, 2014	Oct. 15, 2014	Sep. 30, 2014	Sep. 30, 2014
		Third Amendment [Member]	Revolving Line [Member]	Revolving Line [Member]	Revolving Line [Member]	Growth Capital Line [Member]
				Subsequent Event [Member]	Third Amendment [Member]
Line of Credit Facility [Line Items]	'	'	'	'	'	'
Credit borrowings repayable term	'	'30 months	'	'	'	'
Credit facility, maximum borrowing capacity	$35,000,000	'	$30,000,000	'	$30,000,000	$5,000,000
Credit facility, interest rate description	'	'	'Bank's prime rate plus 0.5%	'	'	'
Credit facility, interest rate	'	'	0.50%	'	'	'
Credit facility, outstanding amount	18,000,000	'	'	'	'	'
Credit facility payments	'	'	'	$18,000,000	'	'

Changes_in_Accumulated_Other_C2

Changes in Accumulated Other Comprehensive Loss - Changes in Accumulated Other Comprehensive Loss (Detail) (USD $)	Sep. 30, 2014	Dec. 31, 2013	Sep. 30, 2014
In Thousands, unless otherwise specified			Accumulated Translation Adjustment [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]	'	'	'
Beginning balance at January 1, 2014	($106)	($79)	($79)
Other comprehensive income before reclassifications	'	'	-27
Amounts reclassified from accumulated other comprehensive income	'	'	'
Ending balance at September 30, 2014	($106)	($79)	($106)

Reverse_Stock_Split_Additional

Reverse Stock Split - Additional Information (Detail)	0 Months Ended	9 Months Ended
	Sep. 25, 2014	Sep. 30, 2014
Equity [Abstract]	'	'
Stock split ratio	0.33	'
Stockholders' equity note, stock split description	'	'On SeptemberB 25, 2014, the Companybs Board of Directors approved a 1-for-3 reverse stock split of the Companybs common stock. The reverse stock split became effective on SeptemberB 25, 2014. Upon the effectiveness of the reverse stock split, (i)B every three shares of outstanding common stock was combined into one share of common stock, (ii)B the number of shares of common stock into which each outstanding warrant or option to purchase common stock is exercisable was proportionally decreased, (iii)B the exercise price of each outstanding warrant or option to purchase common stock was proportionately increased, and (iv)B the conversion ratio for each share of preferred stock outstanding was proportionately reduced.

StockBased_Compensation_Expens2

Stock-Based Compensation Expense - Stock Compensation Expense by Award is Recorded in the Company's Consolidated Statements of Operations (Detail) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]	'	'	'	'
Total stock based compensation	$1,266	$821	$3,514	$2,395
Option [Member]	'	'	'	'
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]	'	'	'	'
Total stock based compensation	1,266	693	3,514	2,011
Vesting of Restricted Stock [Member]	'	'	'	'
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]	'	'	'	'
Total stock based compensation	'	$128	'	$384

StockBased_Compensation_Expens3

Stock-Based Compensation Expense - Effect of Stock-Based Compensation on Income by Line Item (Detail) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]	'	'	'	'
Total stock based compensation	$1,266	$821	$3,514	$2,395
Cost of Revenue, Subscription [Member]	'	'	'	'
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]	'	'	'	'
Total stock based compensation	24	6	64	26
Cost of Revenue, Service [Member]	'	'	'	'
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]	'	'	'	'
Total stock based compensation	84	56	236	122
Research and Development [Member]	'	'	'	'
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]	'	'	'	'
Total stock based compensation	140	189	435	558
Sales and Marketing [Member]	'	'	'	'
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]	'	'	'	'
Total stock based compensation	560	278	1,447	766
General and Administrative [Member]	'	'	'	'
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]	'	'	'	'
Total stock based compensation	$458	$292	$1,332	$923

StockBased_Compensation_Expens4

Stock-Based Compensation Expense - Additional Information (Detail) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Statement of Comprehensive Income [Abstract]	'	'	'	'
Capitalized software development costs excluded from stock based compensation	$83	$71	$209	$193

Segment_Information_and_Geogra2

Segment Information and Geographic Data - Additional Information (Detail)	9 Months Ended
	Sep. 30, 2014
	Segment
Segment Reporting [Abstract]	'
Number of operating segments	1

Segment_Information_and_Geogra3

Segment Information and Geographic Data - Revenues by Geographical Region (Detail) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Segment Reporting Information [Line Items]	'	'	'	'
Total Revenues	$30,448	$20,179	$81,720	$55,255
United States [Member]	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'
Total Revenues	27,008	19,200	73,349	53,637
Ireland [Member]	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'
Total Revenues	3,420	979	8,351	1,618
Australia [Member]	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'
Total Revenues	$20	'	$20	'
Revenue [Member]	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'
Percentage of revenues generated outside of the United States	11.00%	5.00%	10.00%	3.00%

Segment_Information_and_Geogra4

Segment Information and Geographic Data - Long Lived Assets by Geographical Region (Detail) (USD $)	Sep. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Segment Reporting Information [Line Items]	'	'
Total Long Lived Assets	$9,874	$7,243
Percentage of long lived assets held outside of the United States	7.00%	6.00%
United States [Member]	'	'
Segment Reporting Information [Line Items]	'	'
Total Long Lived Assets	9,170	6,775
Ireland [Member]	'	'
Segment Reporting Information [Line Items]	'	'
Total Long Lived Assets	701	468
Australia [Member]	'	'
Segment Reporting Information [Line Items]	'	'
Total Long Lived Assets	$3	'

Subsequent_Events_Additional_I

Subsequent Events - Additional Information (Detail) (Subsequent Event [Member], USD $)	0 Months Ended
In Millions, except Share data, unless otherwise specified	Oct. 15, 2014
Subsequent Event [Line Items]	'
Aggregate proceeds from IPO	$133.70
Number of preferred stock converted to common stock	19,529,713
IPO [Member]	'
Subsequent Event [Line Items]	'
Share offering expenses	2.7
Over-Allotment Option [Member]	'
Subsequent Event [Line Items]	'
Number of shares issued to public	750,000
Revolving Line [Member]	'
Subsequent Event [Line Items]	'
Credit facility payments	$18