HubSpot (HUBS) 10-Q 6 Aug 19 2019 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2019	Aug. 01, 2019
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q2
Trading Symbol	HUBS
Entity Registrant Name	HUBSPOT INC
Entity Central Index Key	0001404655
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Common Stock, Shares Outstanding		42,500,267
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Shell Company	false
Title of 12(b) Security	Common Stock
Security Exchange Name	NYSE
Entity File Number	001-36680
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	20-2632791
Entity Address, Address Line One	25 First Street
Entity Address, City or Town	Cambridge
Entity Address, State or Province	MA
Entity Address, Postal Zip Code	02141
City Area Code	888
Local Phone Number	482-7768
Document Quarterly Report	true
Document Transition Report	false

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Current assets:
Cash and cash equivalents	$ 238,080	$ 111,489
Short-term investments	717,115	480,761
Accounts receivable — net of allowance for doubtful accounts of $1,118 and $1,317 at June 30, 2019 and December 31, 2018, respectively	72,999	77,100
Deferred commission expense	28,672	23,664
Restricted cash	6,019	5,175
Prepaid expenses and other current assets	19,991	14,229
Total current assets	1,082,876	712,418
Long-term investments	38,628	11,450
Property and equipment, net	58,471	52,468
Capitalized software development costs, net	13,616	12,746
Right-of-use assets	224,980
Deferred commission expense, net of current portion	18,600	18,114
Other assets	8,052	6,888
Intangible assets, net	3,319	4,919
Goodwill	14,950	14,950
Total assets	1,463,492	833,953
Current liabilities:
Accounts payable	13,264	7,810
Accrued compensation costs	20,179	23,589
Accrued expenses and other current liabilities	28,546	22,305
Lease liabilities	15,415
Deferred revenue	195,509	183,305
Total current liabilities	272,913	237,009
Lease liabilities, net of current portion	234,724
Deferred rent, net of current portion		26,445
Deferred revenue, net of current portion	2,619	2,179
Other long-term liabilities	5,635	4,897
Convertible senior notes	329,457	318,782
Total liabilities	845,348	589,312
Commitments and contingencies (Note 10)
Stockholders’ equity:
Common stock	43	40
Additional paid-in capital	990,701	589,708
Accumulated other comprehensive income (loss)	241	(723)
Accumulated deficit	(372,841)	(344,384)
Total stockholders’ equity	618,144	244,641
Total liabilities and stockholders’ equity	$ 1,463,492	$ 833,953

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Statement Of Financial Position [Abstract]
Accounts receivable, net of allowance for doubtful accounts	$ 1,118	$ 1,317

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Revenues:
Total revenue	$ 163,255	$ 122,576	$ 315,053	$ 237,132
Cost of revenues:
Total cost of revenues	31,142	24,851	60,720	47,228
Gross profit	132,113	97,725	254,333	189,904
Operating expenses:
Research and development	40,456	28,485	75,633	54,837
Sales and marketing	84,079	65,281	158,984	125,191
General and administrative	23,303	18,011	44,477	35,252
Total operating expenses	147,838	111,777	279,094	215,280
Loss from operations	(15,725)	(14,052)	(24,761)	(25,376)
Other expense:
Interest income	5,424	2,092	9,598	3,916
Interest expense	(5,673)	(5,326)	(11,186)	(10,500)
Other expense	(672)	(527)	(684)	(810)
Total other expense	(921)	(3,761)	(2,272)	(7,394)
Loss before income tax expense	(16,646)	(17,813)	(27,033)	(32,770)
Income tax expense	(711)	(412)	(1,424)	(903)
Net loss	$ (17,357)	$ (18,225)	$ (28,457)	$ (33,673)
Net loss per share, basic and diluted	$ (0.41)	$ (0.48)	$ (0.69)	$ (0.88)
Weighted average common shares used in computing basic and diluted net loss per share:	42,127	38,350	41,352	38,093
Subscription [Member]
Revenues:
Total revenue	$ 155,876	$ 116,566	$ 300,102	$ 225,168
Cost of revenues:
Total cost of revenues	23,578	16,964	44,879	32,199
Professional Services and Other [Member]
Revenues:
Total revenue	7,379	6,010	14,951	11,964
Cost of revenues:
Total cost of revenues	$ 7,564	$ 7,887	$ 15,841	$ 15,029

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Statement Of Income And Comprehensive Income [Abstract]
Net loss	$ (17,357)	$ (18,225)	$ (28,457)	$ (33,673)
Other comprehensive loss:
Foreign currency translation adjustment	254	(720)	(50)	(422)
Changes in unrealized gain (loss) on investments, net of income taxes of $156 thousand and $269 thousand for the three and six months ended June 30, 2019, respectively, and $0 for the three and six months ended June 30, 2018.	588	144	1,014	(235)
Comprehensive loss	$ (16,515)	$ (18,801)	$ (27,493)	$ (34,330)

Consolidated Statements of Co_2

Consolidated Statements of Comprehensive Loss (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Statement Of Income And Comprehensive Income [Abstract]
Changes in unrealized gain (loss) on investments, income taxes	$ 156	$ 0	$ 269	$ 0

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Operating Activities:
Net loss	$ (28,457)	$ (33,673)
Adjustments to reconcile net loss to net cash and cash equivalents provided by operating activities
Depreciation and amortization	14,035	10,539
Stock-based compensation	49,869	35,721
(Benefit) provision for deferred income taxes	(135)	47
Amortization of debt discount and issuance costs	10,675	9,962
Accretion of bond discount	(6,821)	(2,641)
Noncash lease expense		1,605
Unrealized currency translation	(18)	136
Changes in assets and liabilities
Accounts receivable	3,907	6,645
Prepaid expenses and other assets	(6,330)	(4,712)
Deferred commission expense	(5,539)	(10,089)
Right-of-use assets	9,262
Accounts payable	4,992	754
Accrued expenses and other liabilities	3,288	5,631
Lease liabilities	(10,162)
Deferred rent		3,906
Deferred revenue	12,847	16,392
Net cash and cash equivalents provided by operating activities	51,413	40,223
Investing Activities:
Purchases of investments	(597,802)	(366,292)
Maturities of investments	342,385	348,550
Purchases of property and equipment	(12,056)	(11,310)
Capitalization of software development costs	(5,328)	(5,806)
Purchases of strategic investments	(352)	(250)
Net cash and cash equivalents used in investing activities	(273,153)	(35,108)
Financing Activities:
Proceeds from common stock offering, net of offering costs paid of $365	342,628
Employee taxes paid related to the net share settlement of stock-based awards	(2,735)	(4,045)
Proceeds related to the issuance of common stock under stock plans	10,738	11,612
Repayments of finance lease obligations	(205)	(417)
Net cash and cash equivalents provided by financing activities	350,426	7,150
Effect of exchange rate changes on cash, cash equivalents, and restricted cash	(198)	(998)
Net increase in cash, cash equivalents and restricted cash	128,488	11,267
Cash, cash equivalents and restricted cash, beginning of period	117,114	92,784
Cash, cash equivalents and restricted cash, end of period	245,602	104,051
Supplemental cash flow disclosure:
Cash paid for interest	503	521
Cash paid for income taxes	1,843	772
Right of use assets obtained in exchange for operating lease liabilities	81,692
Non-cash investing and financing activities:
Capital expenditures incurred but not yet paid	1,390	1,661
Asset retirement obligations	$ 517	$ 250

Consolidated Statements of Ca_2

Consolidated Statements of Cash Flows (Parenthetical) $ in Thousands	6 Months Ended
	Jun. 30, 2019USD ($)
Statement Of Cash Flows [Abstract]
Offering costs paid	$ 365

Organization and Operations

Organization and Operations	6 Months Ended
	Jun. 30, 2019
Accounting Policies [Abstract]
Organization and Operations	1. Organization and Operations HubSpot, Inc. (the “Company”) provides a cloud-based inbound marketing, sales and customer service platform, which is referred to in this document as the Company’s Growth Platform, that enables businesses to grow better. The Company’s Growth Platform, comprised of Marketing Hub, Sales Hub, Service Hub, and a free customer relationship management, or CRM system, features integrated applications and tools that enable businesses to create a cohesive and adaptable customer experience throughout the customer lifecycle. 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”). In the opinion of management, the Company has prepared the accompanying unaudited consolidated financial statements on a basis substantially consistent with the audited consolidated financial statements of the Company as of and for the year ended December 31, 2018, and these consolidated financial statements include all adjustments, consisting only of normal recurring adjustments, necessary for a fair statement of the results of the interim periods presented. All intercompany balances and transactions have been eliminated in consolidation. The results of operations for the interim periods presented are not necessarily indicative of the results to be expected for any subsequent quarter or for the entire year ending December 31, 2019. The year-end balance sheet data was derived from audited financial statements, but this Form 10-Q does not include all disclosures required under 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 SEC. These interim financial statements should be read in conjunction with the audited consolidated financial statements and related notes contained in the Company’s Annual Report on Form 10-K filed with the SEC on February 12, 2019. There have been no changes in the Company’s significant accounting policies from those that were disclosed in the Company’s Annual Report on Form 10-K that have had a material impact on our consolidated financial statements and related notes, except the adoption of updated guidance related to accounting for leases as described within Note 2 of these consolidated financial statements. On February 19, 2019, the Company closed a common stock offering whereby 2.2 million shares of common stock were sold. The Company received aggregate proceeds of approximately $343.0 million from the offering, net of underwriters’ discounts and commissions, but before deduction of offering expenses of approximately $0.4 million. Recent Accounting Pronouncements Recent accounting standards not included below are not expected to have a material impact on our consolidated financial position and results of operations. In June 2018, the Financial Accounting Standards Board (“FASB”) issued guidance for stock-based compensation to include share-based payment transactions for acquiring goods and services from nonemployees. The guidance was adopted on January 1, 2019 and did not have a material impact on the consolidated financial statements. In January 2017, the FASB issued guidance simplifying the accounting for goodwill impairment by removing Step 2 of the goodwill impairment test. Under current guidance, Step 2 of the goodwill impairment test requires entities to calculate the implied fair value of goodwill in the same manner as the amount of goodwill recognized in a business combination by assigning the fair value of a reporting unit to all of the assets and liabilities of the reporting unit. The carrying value in excess of the implied fair value is recognized as goodwill impairment. Under the new standard, goodwill impairment is recognized based on Step 1 of the current guidance, which calculates the carrying value in excess of the reporting unit’s fair value. The new standard is effective beginning in January 2020, with early adoption permitted. The Company does not believe the adoption of this guidance will have a material impact on the consolidated financial statements. In June 2016, the FASB issued guidance that introduces a new methodology for accounting for credit losses on financial instruments. The guidance establishes a new forward-looking "expected loss model" that requires entities to estimate current expected credit losses on accounts receivable and financial instruments by using all practical and relevant information. The guidance will be effective for the Company on January 1, 2020. The Company is currently evaluating the impact of this guidance on the consolidated financial statements. In February 2016, the FASB issued guidance related to leases to increase transparency and comparability among organizations by requiring the recognition of right-of-use assets and lease liabilities on the balance sheet, while maintaining consistency with historical accounting for the recognition of expense on their income statements. Most prominent among the changes in the guidance is the recognition of right-of-use assets and lease liabilities by lessees for those leases classified as operating leases. Additional disclosures are required to meet the objective of enabling users of financial statements to assess the amount, timing, and uncertainty of cash flows arising from leases. The Company adopted the updated guidance as of January 1, 2019 using a modified retrospective transition method with a cumulative-effect adjustment as of the adoption date, as permitted by the guidance. Comparative periods are not adjusted. See Note 2 of these consolidated financial statements for further details.

Leases

Leases	6 Months Ended
	Jun. 30, 2019
Leases [Abstract]
Leases	2. Leases Adoption of Updated Leasing Guidance On January 1, 2019, the Company adopted the new lease guidance using a modified retrospective transition method applied to those leases which were not completed as of January 1, 2019. Results for reporting periods beginning after December 31, 2018 are presented under the new guidance, while prior period comparative amounts are not adjusted and continue to be reported in accordance with historical guidance. The Company applied the new standard using the package of practical expedients permitted under the transition guidance where the Company: • did not reassess whether any expired or existing contracts contain a lease; • did not reassess the classification of existing leases; and • did not reassess initial direct costs for any existing leases. In addition, the Company elected the hindsight practical expedient to determine the lease term for existing leases. The resulting impact, as of the adoption date, to the consolidated balance sheet of applying the new guidance in 2019 versus the prior guidance was an increase to right-of-use assets of $152.2 million, a decrease to other assets of $0.3 million, an increase to total assets of $151.9 million, an increase to short-term lease liabilities of $14.1 million, a decrease to accrued expenses and other current liabilities of $0.5 million, an increase to total current liabilities of $13.5 million, an increase to long-term lease liabilities of $164.8 million, a decrease to deferred rent, net of current portion, of $26.4 million and an increase to total liabilities of $151.9 million. There was no impact to stockholders’ equity or the consolidated statements of operations as a result of adopting the new guidance. There was no impact to total operating or financing cash flows of applying the new guidance in 2019 versus the prior guidance other than renaming or adding items to the statements of cash flows to conform to the accounting for, and presentation of, the new standard. The Company determines if an arrangement contains a lease at inception and does not separate lease and non-lease components of an arrangement determined to contain a lease. Operating and finance leases with a duration of less than 12 months are excluded from right-of-use-assets and lease liabilities and related expense is recorded as incurred. The Company leases its office facilities under non-cancelable operating leases that expire at various dates through May 2031. Certain leases contain optional termination dates. The table below only considers lease obligations through the optional termination dates, as the Company is not reasonably certain to extend lease agreements beyond those dates. The following table provides a summary of lease assets and liabilities as of June 30, 2019: Leases Balance sheet classification Amount (in thousands) Assets: Operating lease assets Right-of-use assets $ 224,980 Finance lease assets Fixed assets 144 Total leased assets $ 225,124 Liabilities: Current Operating lease liabilities Lease liabilities $ 15,415 Finance lease liabilities Accrued expenses and other current liabilities 108 Noncurrent Operating Lease liabilities, net of current portion 234,724 Total lease liabilities $ 250,247 Operating lease costs were $7.6 million for the three months ended June 30, 2019, net of $0.6 million of operating sublease income related to certain office facilities subleased to third parties. Operating lease costs were $14.4 million for the six months ended June 30, 2019, net of $1.1 million of operating sublease income related to certain office facilities subleased to third parties. Finance lease costs consisted of $0.1 million related to the amortization finance lease assets and $0 of interest expense for the three months ended June 30, 2019. Finance lease costs consisted of $0.2 million related to the amortization finance lease assets and $0 of interest expense for the six months ended June 30, 2019. The following table provides a reconciliation between non-cancelable lease commitments and lease liabilities as of June 30, 2019: Operating leases Finance Leases Lease commitments (Note 10) $ 370,395 $ 108 Less: Legally binding minimum lease payments for leases signed but not yet commenced (41,450 ) — Less: Present value discount (78,806 ) — Total lease liabilities $ 250,139 $ 108 Lease Term and Discount Rate The Company uses its estimated incremental borrowing rate, which is derived from information available at the lease commencement date, in determining the present value of operating lease payments. To determine the estimated incremental borrowing rate, the Company uses publicly available credit ratings for peer companies. The Company estimates the incremental borrowing rate using yields for maturities that are in line with the duration of the lease payments. The following table provides weighted average remaining lease terms and weighted average discount rate for operating and finance leases as of June 30, 2019: Weighted-average remaining lease term: Operating leases 9.7 years Finance leases 0.7 years Weighted-average discount rate: Operating leases 5.8% Finance leases 3.8% Other Information Cash payments related to our operating lease liabilities were $9.1 million for the three months ended June 30, 2019 and $14.7 million for the six months ended June 30, 2019. Cash payments related to our financing lease liabilities were $0.1 million for the three months ended June 30, 2019 and $0.2 million for the six months ended June 30, 2019.

Revenues

Revenues	6 Months Ended
	Jun. 30, 2019
Revenue From Contract With Customer [Abstract]
Revenues	3 . Revenues Disaggregation of Revenue The Company provides disaggregation of revenue based on geographic region (Note 14) and based on the subscription versus Deferred Revenue, Deferred Commission Expense, and Accrued Expenses and Other Current Liabilities Amounts that have been invoiced are recorded in accounts receivable and deferred revenue or revenue, depending on whether the revenue recognition criteria have been met. Deferred revenue represents amounts billed for which revenue has not yet been recognized. Deferred revenue that will be recognized during the succeeding 12-month period is recorded as current deferred revenue, and the remaining portion is recorded as long-term deferred revenue. Deferred revenue during the six months ended June 30, 2019 increased by $12.6 million resulting from $327.7 million of additional invoicing and was offset by revenue recognized of $315.1 million during the same period. $101.4 million of revenue was recognized during the three month period ended June 30, 2019 that was included in deferred revenue at the beginning of the period. $141.4 million of revenue was recognized during the six month period ended June 30, 2019 that was included in deferred revenue at the beginning of the period. As of June 30, 2019, approximately $142.1 million of revenue is expected to be recognized from remaining performance obligations for contracts with original performance obligations that exceed one year. The Company expects to recognize revenue on approximately 94% of these remaining performance obligations over the next 24 months, with the balance recognized thereafter. Additional contract liabilities of $1.5 million and $1.6 million were included in accrued expenses and other current liabilities on the consolidated balance sheet as of June 30, 2019 and December 31, 2018. The incremental direct costs of obtaining a contract, which primarily consist of sales commissions paid for new subscription contracts, are deferred and amortized on a straight-line basis over a period of approximately one to three years. The one to three-year period has been determined by taking into consideration the type of product sold, the commitment term of the customer contract, the nature of the Company’s technology development life-cycle, and an estimated customer relationship period. Sales commissions for upgrade contracts are deferred and amortized on a straight-line basis over the remaining estimated customer relationship period of the related customer. Deferred commission expense that will be recorded as expense during the succeeding 12-month period is recorded as current deferred commission expense, and the remaining portion is recorded as long-term deferred commission expense.

Net Loss per Share

Net Loss per Share	6 Months Ended
	Jun. 30, 2019
Earnings Per Share [Abstract]
Net Loss per Share	4. Net Loss per Share Basic net loss per share is computed by dividing net loss by the weighted average number of common shares outstanding for the period. Diluted net loss 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, restricted stock units (“RSUs”), Employee Stock Purchase Plan (“ESPP”), common stock warrants, and the Conversion Option of the 2022 Notes are considered to be potential common stock equivalents. A reconciliation of the denominator used in the calculation of basic and diluted net loss per share is as follows: Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 Net loss $ (17,357 ) $ (18,225 ) $ (28,457 ) $ (33,673 ) Weighted-average common shares outstanding — basic 42,127 38,350 41,352 38,093 Dilutive effect of share equivalents resulting from stock options, RSUs, ESPP, common stock warrants and the Conversion Option of the 2022 Notes — — — — Weighted-average common shares, outstanding — diluted 42,127 38,350 41,352 38,093 Net loss per share, basic and diluted $ (0.41 ) $ (0.48 ) $ (0.69 ) $ (0.88 ) Additionally, since the Company incurred net losses for each of the periods presented, diluted net loss per share is the same as basic net loss per share. The Company’s outstanding stock options, RSUs, ESPP, common stock warrants, and Conversion Option of the 2022 Notes were not included in the calculation of diluted net loss per share as the effect would be anti-dilutive. The following table contains all potentially dilutive common stock equivalents. As of June 30, 2019 2018 (in thousands) Options to purchase common shares 1,678 2,026 RSUs 1,948 2,318 Conversion option of the 2022 Notes 1,929 844 Common stock warrants 1,420 93 ESPP 2 19 The Company expects to settle the principal amount of the 2022 Notes (Note 9) in cash, and therefore, the Company uses the treasury stock method for calculating any potential dilutive effect of the Conversion Option on diluted net income per share, if applicable. The Conversion Option will have a dilutive impact on net income per share of common stock when the average market price of the Company’s common stock for a given period exceeds the conversion price of the 2022 Notes of $94.77 per share. As of August 1, 2019, no holders have converted or indicated their intention to convert the 2022 Notes.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	6 Months Ended
	Jun. 30, 2019
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	5. Fair Value of Financial Instruments The Company measures certain financial assets at fair value. Fair value is determined based upon the exit price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants, as determined by either the principal market or the most advantageous market. Inputs used in the valuation techniques to derive fair values are classified based on a three-level hierarchy, as follows: • Level 1 — Quoted prices in active markets for identical assets or liabilities. • Level 2 — Observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets with insufficient volume or infrequent transactions (less active markets); or model-derived valuations in which all significant inputs are observable or can be derived principally from or corroborated by observable market data for substantially the full term of the assets or liabilities. • Level 3 — Unobservable inputs to the valuation methodology that are significant to the measurement of fair value of assets or liabilities. The following table details the fair value measurements within the fair value hierarchy of the Company’s financial assets and liabilities at June 30, 2019 and December 31, 2018: June 30, 2019 Level 1 Level 2 Level 3 Total (in thousands) Cash equivalents and investments: Money market funds $ 88,394 $ — $ — $ 88,394 Commercial paper — 4,083 — 4,083 Corporate bonds — 71,877 — 71,877 U.S. Treasury securities — 714,722 — 714,722 Restricted cash: Certificates of deposit — 7,522 — 7,522 Total $ 88,394 $ 798,204 $ — $ 886,598 December 31, 2018 Level 1 Level 2 Level 3 Total (in thousands) Cash equivalents and investments: Money market funds $ 1,579 $ — $ — $ 1,579 Commercial paper — 8,242 — 8,242 Corporate bonds — 70,728 — 70,728 U.S. Treasury securities — 413,241 — 413,241 Restricted cash: Certificates of deposit — 5,625 — 5,625 Total $ 1,579 $ 497,836 $ — $ 499,415 The Company considers all highly liquid investments purchased with a remaining maturity of three months or less to be cash equivalents. The fair value of the Company’s investments in certain money market funds is their face value and such instruments are classified as Level 1 and are included in cash and cash equivalents on the consolidated balance sheets. At June 30, 2019 and December 31, 2018, our Level 2 securities were priced by pricing vendors. These pricing vendors utilize the most recent observable market information in pricing these securities or, if specific prices are not available for these securities, use other observable inputs like market transactions involving identical or comparable securities. As of June 30, 2019 the fair value of the 2022 Notes was $744.2 million. The fair value was determined based on the quoted price of the 2022 Notes in an inactive market on the last trading day of the reporting period and has been classified as Level 2 within the fair value hierarchy. For certain other financial instruments, including accounts receivable, accounts payable, capital leases and other current liabilities, the carrying amounts approximate their fair value due to the relatively short maturity of these balances. Strategic investments consist of non-controlling equity investments in privately held companies. The Company elected the measurement alternative for these investments without readily determinable fair values and for which the Company does not have the ability to exercise significant influence. These investments are accounted for under the cost method of accounting. Under the cost method of accounting, the non-marketable equity securities are carried at cost less any impairment, plus or minus adjustments resulting from observable price changes in orderly transactions for the identical or a similar investment of the same issuer, which is recorded within the statement of operations. The Company holds $4.4 million without readily determinable fair values at June 30, 2019 and $4.0 million of investments without readily determinable fair values at December 31, 2018. These investments are included in other assets on the consolidated balance sheets. There have been no adjustments to the carrying value of strategic investments resulting from impairments or observable price changes. The following tables summarize the composition of our short- and long-term investments at June 30, 2019 and December 31, 2018. June 30, 2019 Amortized Cost Unrealized Gains Unrealized Losses Aggregate Fair Value (in thousands) Commercial paper $ 4,083 $ — $ — $ 4,083 Corporate bonds 71,716 190 (29 ) 71,877 U.S. Treasury securities 678,995 788 — 679,783 Total $ 754,794 $ 978 $ (29 ) $ 755,743 December 31, 2018 Amortized Cost Unrealized Gains Unrealized Losses Aggregate Fair Value (in thousands) Commercial paper $ 8,256 $ — $ (14 ) $ 8,242 Corporate bonds 70,958 3 (233 ) 70,728 U.S. Treasury securities 413,323 56 (138 ) 413,241 Total $ 492,537 $ 59 $ (385 ) $ 492,211 For all of our securities for which the amortized cost basis was greater than the fair value at June 30, 2019, the Company has concluded that there is no plan to sell the security nor is it more likely than not that the Company would be required to sell the security before its anticipated recovery. In making the determination as to whether the unrealized loss is other-than-temporary, the Company considered the length of time and extent the investment has been in an unrealized loss position, the financial condition and near-term prospects of the issuers, the issuers’ credit rating and the time to maturity. Contractual Maturities The contractual maturities of short-term and long-term investments held at June 30, 2019 and December 31, 2018 are as follows: June 30, 2019 December 31, 2018 Amortized Cost Basis Aggregate Fair Value Amortized Cost Basis Aggregate Fair Value (in thousands) (in thousands) Due within one year $ 716,328 $ 717,115 $ 481,071 $ 480,761 Due after 1 year through 2 years 38,466 38,628 11,466 11,450 Total $ 754,794 $ 755,743 $ 492,537 $ 492,211

Restricted cash

Restricted cash	6 Months Ended
	Jun. 30, 2019
Cash And Cash Equivalents [Abstract]
Restricted Cash	6. Restricted Cash The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the consolidated balance sheets that sum to the total of the same such amounts shown in the statement of cash flows for the six months ended June 30, 2019 and 2018. June 30, 2019 June 30, 2018 December 31, 2018 (in thousands) Cash and cash equivalents $ 238,080 $ 98,426 $ 111,489 Restricted cash 6,019 5,175 5,175 Restricted cash, included in other assets 1,503 450 450 Total cash, cash equivalents, and restricted cash $ 245,602 $ 104,051 $ 117,114 Restricted cash is comprised of certificates of deposit related to landlord guarantees for our leased facilities. These restricted cash balances have been excluded from our cash and cash equivalents balance on our consolidated balance sheets.

Property and Equipment, Net

Property and Equipment, Net	6 Months Ended
	Jun. 30, 2019
Property Plant And Equipment [Abstract]
Property and Equipment, Net	7. Property and Equipment, Net Property and equipment, net consists of the following: June 30, 2019 December 31, 2018 (in thousands) Computer equipment and purchased software $ 9,683 $ 8,163 Employee computer equipment 10,834 8,972 Furniture and fixtures 14,010 13,019 Office equipment 2,551 2,551 Leasehold improvements 50,217 42,894 Equipment under capital lease 3,450 3,450 Internal-use software 6,317 5,363 Construction in progress 2,981 2,498 Total property and equipment 100,043 86,910 Less accumulated depreciation and amortization (41,572 ) (34,442 ) Property and equipment, net $ 58,471 $ 52,468 Depreciation and amortization expense on property and equipment was $3.7 million for the three months ended June 30, 2019, $7.4 million for the six months ended June 30, 2019, $3.1 million for the three months ended June 30, 2018 and $6.1 million for the six months ended June 30, 2018.

Capitalized Software Developmen

Capitalized Software Development Costs	6 Months Ended
	Jun. 30, 2019
Research And Development [Abstract]
Capitalized Software Development Costs	8. Capitalized Software Development Costs Capitalized software development costs, exclusive of those recorded within property and equipment, consisted of the following: June 30, 2019 December 31, 2018 (in thousands) Gross capitalized software development costs $ 52,406 $ 46,169 Accumulated amortization (38,790 ) (33,423 ) Capitalized software development costs, net $ 13,616 $ 12,746 Capitalized software development costs are amortized on a straight-line basis over their estimated useful life of two years. 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 June 30, Six Months Ended June 30, 2019 2018 2019 2018 (in thousands) (in thousands) Software development costs capitalized $ 2,959 $ 3,576 $ 6,237 $ 6,521 Stock-based compensation included in capitalized software development costs $ 607 $ 796 $ 1,115 $ 1,346 Amortization of capitalized software development costs $ 2,572 $ 2,323 $ 5,067 $ 4,327

0.25% Convertible Senior Notes,

0.25% Convertible Senior Notes, Convertible Note Hedge and Warrant	6 Months Ended
	Jun. 30, 2019
Debt Disclosure [Abstract]
0.25% Convertible Senior Notes, Convertible Note Hedge and Warrant	9. 0.25% Convertible Senior Notes, Convertible Note Hedge and Warrant In May 2017, the Company issued $350 million aggregate principal amount of 0.25% convertible senior notes due June 1, 2022 in a private offering and an additional $50 million aggregate principal amount of such notes pursuant to the exercise in full of the over-allotment options of the initial purchasers (the “2022 Notes”). The 2022 Notes are convertible at the option of the holders prior to the close of business on the business day immediately preceding February 1, 2022 under certain conditions or upon the occurrence of certain events. Upon conversion, the Company will pay or deliver, as the case may be, cash, shares of the Company’s common stock or a combination of cash and shares of the Company’s common stock, at the Company’s election. Because the last reported sale price of the Company’s common stock for at least 20 trading days during the period of 30 consecutive trading days ending on the last trading day of the calendar quarter ended June 30, 2019 was equal to or greater than 130% of the applicable conversion price on each applicable trading day, the 2022 Notes are convertible at the option of the holders thereof during the calendar quarter ending September 30, 2019. As of August 1, 2019, no holders have converted or indicated their intention to convert the 2022 Notes. The net carrying amount of the liability component of the 2022 Notes is as follows: As of June 30, 2019 As of December 31, 2018 (in thousands) Principal $ 400,000 $ 400,000 Unamortized debt discount (65,641 ) (75,575 ) Unamortized issuance costs (4,902 ) (5,643 ) Net carrying amount $ 329,457 $ 318,782 Interest expense related to the 2022 Notes is as follows: Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 (in thousands) (in thousands) Contractual interest expense $ 250 $ 250 $ 500 $ 500 Amortization of debt discount 5,039 4,703 9,934 9,270 Amortization of issuance costs 376 351 741 692 Total interest expense $ 5,665 $ 5,304 $ 11,175 $ 10,462

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2019
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	10. Commitments and Contingencies Contractual Obligations The Company leases its office facilities under non-cancelable operating leases that expire at various dates through May 2031. Lease expense for non-cancelable operating leases with free rental periods or scheduled rent increases is recognized on a straight-line basis over the terms of the leases. Improvement reimbursements from landlords of $13.8 million are being amortized on a straight-line basis into lease expense over the terms of the leases. Certain leases contain optional termination dates. The table below only includes payments up to the optional termination date. If the Company were to extend leases beyond the optional termination date the future commitments would increase by approximately $83.6 million. Included in the table below are operating lease commitments for leases that have not yet commenced of approximately $41.4 million for facilities in the United States and Singapore with lease terms of approximately 9 and 4 years, respectively. Future minimum payments under all operating and finance lease agreements as of June 30, 2019 are as follows: Operating Finance (in thousands) 2019 $ 14,101 108 2020 37,360 — 2021 40,520 — 2022 40,417 — 2023 40,063 — Thereafter 197,934 — Total $ 370,395 108 Less: Portion representing interest — Capital lease obligation 108 As previously disclosed in our 2018 Annual Report on Form 10-K and under the previous lease accounting standard, ASC 840, Leases Operating Finance (in thousands) 2019 $ 27,755 $ 298 2020 33,769 33 2021 35,414 — 2022 35,314 — 2023 35,686 — Thereafter 184,341 — Total $ 352,279 331 Less: Portion representing interest (20 ) Capital lease obligation $ 311 There were no material changes in our vendor commitments under non-cancelable arrangements, as disclosed in the Company’s audited consolidated financial statements for the year ended December 31, 2018 and related notes thereto contained in the Company’s Annual Report on Form 10-K, except as disclosed below: In March 2019, the Company exercised an option to extend an agreement with a technology vendor for an additional two years through June 2023. The Company’s additional contractual obligation under this agreement are approximately $57 million over the additional two years. Legal Contingencies From time to time, the Company may become a party to litigation and subject to claims incident to the ordinary course of business, including intellectual property claims, labor and employment claims, and threatened claims, breach of contract claims, tax, and other matters. The Company currently has no material pending litigation.

Changes in Stockholders' Equity

Changes in Stockholders' Equity	6 Months Ended
	Jun. 30, 2019
Stockholders Equity Note [Abstract]
Changes in Stockholders' Equity	11. Changes in Stockholders’ Equity The following tables summarize the changes in stockholders’ equity for the six months ended June 30, 2019 and 2018. Common Stock, $0.001 Par Value Additional Paid-In Accumulated Other Comprehensive Accumulated Shares Amount Capital Income (Loss) Deficit Total Balances at December 31, 2018 39,300 $ 40 $ 589,708 $ (723 ) $ (344,384 ) $ 244,641 Issuance of common stock under stock plans, net of shares withheld for employee taxes 440 1 1,161 — — 1,162 Issuance of common stock in relation to common stock offering, net of offering costs incurred $365 2,151 2 342,628 — — 342,630 Stock-based compensation — — 21,548 — 21,548 Cumulative translation adjustment — — — (304 ) — (304 ) Unrealized gain on investments, net of income taxes of $113 — — — 426 — 426 Net loss — — — — (11,100 ) (11,100 ) Balances at March 31, 2019 41,891 $ 43 $ 955,045 $ (601 ) $ (355,484 ) $ 599,003 Issuance of common stock under stock plans, net of shares withheld for employee taxes 385 $ — $ 6,595 $ — $ — $ 6,595 Stock-based compensation — — 29,061 — — 29,061 Cumulative translation adjustment — — — 254 — 254 Unrealized gain on investments, net of income taxes of $156 — — — 588 — 588 Net loss — — — — (17,357 ) (17,357 ) Balances at June 30, 2019 42,276 $ 43 $ 990,701 $ 241 $ (372,841 ) $ 618,144 Common Stock, $0.001 Par Value Additional Paid-In Accumulated Other Comprehensive Accumulated Shares Amount Capital Income (Loss) Deficit Total Balances at December 31, 2017 37,503 $ 38 $ 496,461 $ (57 ) $ (286,082 ) $ 210,360 Issuance of common stock under stock plans, net of shares withheld for employee taxes 571 1 3,877 — — 3,878 Stock-based compensation — — 16,596 — — 16,596 Cumulative adjustment from adoption of revenue recognition standard — — — — 5,793 5,793 Cumulative translation adjustment — — — 298 — 298 Unrealized gain on investments, net of income taxes of $20 — — — (379 ) — (379 ) Net loss — — — — (15,448 ) (15,448 ) Balances at March 31, 2018 38,074 $ 39 $ 516,934 $ (138 ) $ (295,737 ) $ 221,098 Issuance of common stock under stock plans, net of shares withheld for employee taxes 459 $ — $ 5,138 $ — $ — $ 5,138 Stock-based compensation — — 20,471 — — 20,471 Cumulative adjustment from adoption of revenue recognition standard — — — — (267 ) (267 ) Cumulative translation adjustment — — — (720 ) — (720 ) Unrealized gain on investments, net of income taxes of $56 — — — 144 — 144 Net loss — — — — (18,225 ) (18,225 ) Balances at June 30, 2018 38,533 $ 39 $ 542,543 $ (714 ) $ (314,229 ) $ 227,639

Changes in Accumulated Other Co

Changes in Accumulated Other Comprehensive Loss	6 Months Ended
	Jun. 30, 2019
Equity [Abstract]
Changes in Accumulated Other Comprehensive Loss	12. 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’ equity, for the six months ended June 30, 2019. Cumulative Translation Adjustment Unrealized Gain on Investments Total (in thousands) Beginning balance at January 1, 2019 $ (397 ) $ (326 ) $ (723 ) Other comprehensive loss before reclassifications (50 ) 1,014 $ 964 Amounts reclassified from accumulated other comprehensive income — — — Ending balance at June 30, 2019 $ (447 ) $ 688 $ 241

Stock-Based Compensation Expens

Stock-Based Compensation Expense	6 Months Ended
	Jun. 30, 2019
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Stock-Based Compensation Expense	13. Stock-Based Compensation Expense The following two tables show stock-based compensation expense by award type and where the stock-based compensation expense is recorded in the Company’s consolidated statements of operations: Three Months End June 30, Six Months Ended June 30, 2019 2018 2019 2018 (in thousands) (in thousands) Options $ 1,381 $ 1,259 $ 2,672 $ 2,593 RSUs 26,083 17,798 44,822 32,039 Employee stock purchase plan 1,199 618 2,375 1,089 Total stock-based compensation expense $ 28,663 $ 19,675 $ 49,869 $ 35,721 Effect of stock-based compensation expense on income by line item: Three Months End June 30, Six Months Ended June 30, 2019 2018 2019 2018 (in thousands) (in thousands) Cost of revenue, subscription $ 822 $ 317 $ 1,437 $ 594 Cost of revenue, professional services and other 666 846 1,685 1,536 Research and development 10,553 6,111 17,644 10,875 Sales and marketing 10,523 7,937 18,327 14,429 General and administrative 6,099 4,464 10,776 8,287 Total stock-based compensation expense $ 28,663 $ 19,675 $ 49,869 $ 35,721 Capitalized software development costs excluded from stock-based compensation expense is $607 thousand for the three months ended June 30, 2019, $1.1 million for the six months ended June 30, 2019, $796 thousand for the three months ended June 30, 2018, and $1.3 million for the six months ended June 30, 2018.

Segment Information and Geograp

Segment Information and Geographic Data	6 Months Ended
	Jun. 30, 2019
Segment Reporting [Abstract]
Segment Information and Geographic Data	14. 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: Three Months End June 30, Six Months Ended June 30, 2019 2018 2019 2018 Americas $ 111,181 $ 86,486 $ 215,470 $ 168,644 Europe 40,283 28,172 76,959 53,382 Asia Pacific 11,791 7,918 22,624 15,106 Total $ 163,255 $ 122,576 $ 315,053 $ 237,132 Percentage of revenues generated outside of the Americas 32 % 29 % 32 % 29 % Revenue derived from customers outside the United States (international) was approximately 40% of total revenue in the three months ended June 30, 2019 and 39% of total revenue in the six months ended June 30, 2019. Revenue derived from customers outside the United States (international) was approximately 37% of total revenue in the three months ended June 30, 2018 and 37% of total revenue in the six months ended June 30, 2018. Total long-lived assets by geographical region: As of June 30, 2019 As of December 31, 2018 Americas $ 38,346 $ 35,186 Europe 16,168 13,913 Asia Pacific 3,957 3,369 Total long-lived assets $ 58,471 $ 52,468 Percentage of long-lived assets held outside of the Americas 34 % 33 %

Organization and Operations (Po

Organization and Operations (Policies)	6 Months Ended
	Jun. 30, 2019
Accounting Policies [Abstract]
Recent Accounting Pronouncements	Recent Accounting Pronouncements Recent accounting standards not included below are not expected to have a material impact on our consolidated financial position and results of operations. In June 2018, the Financial Accounting Standards Board (“FASB”) issued guidance for stock-based compensation to include share-based payment transactions for acquiring goods and services from nonemployees. The guidance was adopted on January 1, 2019 and did not have a material impact on the consolidated financial statements. In January 2017, the FASB issued guidance simplifying the accounting for goodwill impairment by removing Step 2 of the goodwill impairment test. Under current guidance, Step 2 of the goodwill impairment test requires entities to calculate the implied fair value of goodwill in the same manner as the amount of goodwill recognized in a business combination by assigning the fair value of a reporting unit to all of the assets and liabilities of the reporting unit. The carrying value in excess of the implied fair value is recognized as goodwill impairment. Under the new standard, goodwill impairment is recognized based on Step 1 of the current guidance, which calculates the carrying value in excess of the reporting unit’s fair value. The new standard is effective beginning in January 2020, with early adoption permitted. The Company does not believe the adoption of this guidance will have a material impact on the consolidated financial statements. In June 2016, the FASB issued guidance that introduces a new methodology for accounting for credit losses on financial instruments. The guidance establishes a new forward-looking "expected loss model" that requires entities to estimate current expected credit losses on accounts receivable and financial instruments by using all practical and relevant information. The guidance will be effective for the Company on January 1, 2020. The Company is currently evaluating the impact of this guidance on the consolidated financial statements. In February 2016, the FASB issued guidance related to leases to increase transparency and comparability among organizations by requiring the recognition of right-of-use assets and lease liabilities on the balance sheet, while maintaining consistency with historical accounting for the recognition of expense on their income statements. Most prominent among the changes in the guidance is the recognition of right-of-use assets and lease liabilities by lessees for those leases classified as operating leases. Additional disclosures are required to meet the objective of enabling users of financial statements to assess the amount, timing, and uncertainty of cash flows arising from leases. The Company adopted the updated guidance as of January 1, 2019 using a modified retrospective transition method with a cumulative-effect adjustment as of the adoption date, as permitted by the guidance. Comparative periods are not adjusted. See Note 2 of these consolidated financial statements for further details.
Revenue	Revenues Disaggregation of Revenue The Company provides disaggregation of revenue based on geographic region (Note 14) and based on the subscription versus Deferred Revenue, Deferred Commission Expense, and Accrued Expenses and Other Current Liabilities Amounts that have been invoiced are recorded in accounts receivable and deferred revenue or revenue, depending on whether the revenue recognition criteria have been met. Deferred revenue represents amounts billed for which revenue has not yet been recognized. Deferred revenue that will be recognized during the succeeding 12-month period is recorded as current deferred revenue, and the remaining portion is recorded as long-term deferred revenue. Deferred revenue during the six months ended June 30, 2019 increased by $12.6 million resulting from $327.7 million of additional invoicing and was offset by revenue recognized of $315.1 million during the same period. $101.4 million of revenue was recognized during the three month period ended June 30, 2019 that was included in deferred revenue at the beginning of the period. $141.4 million of revenue was recognized during the six month period ended June 30, 2019 that was included in deferred revenue at the beginning of the period. As of June 30, 2019, approximately $142.1 million of revenue is expected to be recognized from remaining performance obligations for contracts with original performance obligations that exceed one year. The Company expects to recognize revenue on approximately 94% of these remaining performance obligations over the next 24 months, with the balance recognized thereafter. Additional contract liabilities of $1.5 million and $1.6 million were included in accrued expenses and other current liabilities on the consolidated balance sheet as of June 30, 2019 and December 31, 2018. The incremental direct costs of obtaining a contract, which primarily consist of sales commissions paid for new subscription contracts, are deferred and amortized on a straight-line basis over a period of approximately one to three years. The one to three-year period has been determined by taking into consideration the type of product sold, the commitment term of the customer contract, the nature of the Company’s technology development life-cycle, and an estimated customer relationship period. Sales commissions for upgrade contracts are deferred and amortized on a straight-line basis over the remaining estimated customer relationship period of the related customer. Deferred commission expense that will be recorded as expense during the succeeding 12-month period is recorded as current deferred commission expense, and the remaining portion is recorded as long-term deferred commission expense.

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jun. 30, 2019
Leases [Abstract]
Summary of Lease Assets and Liabilities	The following table provides a summary of lease assets and liabilities as of June 30, 2019: Leases Balance sheet classification Amount (in thousands) Assets: Operating lease assets Right-of-use assets $ 224,980 Finance lease assets Fixed assets 144 Total leased assets $ 225,124 Liabilities: Current Operating lease liabilities Lease liabilities $ 15,415 Finance lease liabilities Accrued expenses and other current liabilities 108 Noncurrent Operating Lease liabilities, net of current portion 234,724 Total lease liabilities $ 250,247
Summary of Reconciliation between Non-cancelable Lease Commitments and Lease Liabilities	The following table provides a reconciliation between non-cancelable lease commitments and lease liabilities as of June 30, 2019: Operating leases Finance Leases Lease commitments (Note 10) $ 370,395 $ 108 Less: Legally binding minimum lease payments for leases signed but not yet commenced (41,450 ) — Less: Present value discount (78,806 ) — Total lease liabilities $ 250,139 $ 108
Summary of Weighted Average Remaining Lease Terms and Weighted Average Discount Rate for Operating and Finance Leases	The following table provides weighted average remaining lease terms and weighted average discount rate for operating and finance leases as of June 30, 2019: Weighted-average remaining lease term: Operating leases 9.7 years Finance leases 0.7 years Weighted-average discount rate: Operating leases 5.8% Finance leases 3.8%

Net Loss per Share (Tables)

Net Loss per Share (Tables)	6 Months Ended
	Jun. 30, 2019
Earnings Per Share [Abstract]
Summary of Reconciliation of Denominator Used in Calculation of Basic and Diluted Net Loss Per Share	A reconciliation of the denominator used in the calculation of basic and diluted net loss per share is as follows: Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 Net loss $ (17,357 ) $ (18,225 ) $ (28,457 ) $ (33,673 ) Weighted-average common shares outstanding — basic 42,127 38,350 41,352 38,093 Dilutive effect of share equivalents resulting from stock options, RSUs, ESPP, common stock warrants and the Conversion Option of the 2022 Notes — — — — Weighted-average common shares, outstanding — diluted 42,127 38,350 41,352 38,093 Net loss per share, basic and diluted $ (0.41 ) $ (0.48 ) $ (0.69 ) $ (0.88 )
Schedule of Potentially Dilutive Common Stock Equivalents	The following table contains all potentially dilutive common stock equivalents. As of June 30, 2019 2018 (in thousands) Options to purchase common shares 1,678 2,026 RSUs 1,948 2,318 Conversion option of the 2022 Notes 1,929 844 Common stock warrants 1,420 93 ESPP 2 19

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	6 Months Ended
	Jun. 30, 2019
Fair Value Disclosures [Abstract]
Schedule of Fair Value Measurements of Financial Assets and Liabilities	The following table details the fair value measurements within the fair value hierarchy of the Company’s financial assets and liabilities at June 30, 2019 and December 31, 2018: June 30, 2019 Level 1 Level 2 Level 3 Total (in thousands) Cash equivalents and investments: Money market funds $ 88,394 $ — $ — $ 88,394 Commercial paper — 4,083 — 4,083 Corporate bonds — 71,877 — 71,877 U.S. Treasury securities — 714,722 — 714,722 Restricted cash: Certificates of deposit — 7,522 — 7,522 Total $ 88,394 $ 798,204 $ — $ 886,598 December 31, 2018 Level 1 Level 2 Level 3 Total (in thousands) Cash equivalents and investments: Money market funds $ 1,579 $ — $ — $ 1,579 Commercial paper — 8,242 — 8,242 Corporate bonds — 70,728 — 70,728 U.S. Treasury securities — 413,241 — 413,241 Restricted cash: Certificates of deposit — 5,625 — 5,625 Total $ 1,579 $ 497,836 $ — $ 499,415
Summary of Composition of Short and Long Term Investments	The following tables summarize the composition of our short- and long-term investments at June 30, 2019 and December 31, 2018. June 30, 2019 Amortized Cost Unrealized Gains Unrealized Losses Aggregate Fair Value (in thousands) Commercial paper $ 4,083 $ — $ — $ 4,083 Corporate bonds 71,716 190 (29 ) 71,877 U.S. Treasury securities 678,995 788 — 679,783 Total $ 754,794 $ 978 $ (29 ) $ 755,743 December 31, 2018 Amortized Cost Unrealized Gains Unrealized Losses Aggregate Fair Value (in thousands) Commercial paper $ 8,256 $ — $ (14 ) $ 8,242 Corporate bonds 70,958 3 (233 ) 70,728 U.S. Treasury securities 413,323 56 (138 ) 413,241 Total $ 492,537 $ 59 $ (385 ) $ 492,211
Summary of Contractual Maturities of Short and Long Term Investments	The contractual maturities of short-term and long-term investments held at June 30, 2019 and December 31, 2018 are as follows: June 30, 2019 December 31, 2018 Amortized Cost Basis Aggregate Fair Value Amortized Cost Basis Aggregate Fair Value (in thousands) (in thousands) Due within one year $ 716,328 $ 717,115 $ 481,071 $ 480,761 Due after 1 year through 2 years 38,466 38,628 11,466 11,450 Total $ 754,794 $ 755,743 $ 492,537 $ 492,211

Restricted cash (Tables)

Restricted cash (Tables)	6 Months Ended
	Jun. 30, 2019
Cash And Cash Equivalents [Abstract]
Summary of Reconciliation of Cash, Cash Equivalents and Restricted Cash	The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the consolidated balance sheets that sum to the total of the same such amounts shown in the statement of cash flows for the six months ended June 30, 2019 and 2018. June 30, 2019 June 30, 2018 December 31, 2018 (in thousands) Cash and cash equivalents $ 238,080 $ 98,426 $ 111,489 Restricted cash 6,019 5,175 5,175 Restricted cash, included in other assets 1,503 450 450 Total cash, cash equivalents, and restricted cash $ 245,602 $ 104,051 $ 117,114

Property and Equipment, Net (Ta

Property and Equipment, Net (Tables)	6 Months Ended
	Jun. 30, 2019
Property Plant And Equipment [Abstract]
Schedule of Property and Equipment, Net	Property and equipment, net consists of the following: June 30, 2019 December 31, 2018 (in thousands) Computer equipment and purchased software $ 9,683 $ 8,163 Employee computer equipment 10,834 8,972 Furniture and fixtures 14,010 13,019 Office equipment 2,551 2,551 Leasehold improvements 50,217 42,894 Equipment under capital lease 3,450 3,450 Internal-use software 6,317 5,363 Construction in progress 2,981 2,498 Total property and equipment 100,043 86,910 Less accumulated depreciation and amortization (41,572 ) (34,442 ) Property and equipment, net $ 58,471 $ 52,468

Capitalized Software Developm_2

Capitalized Software Development Costs (Tables)	6 Months Ended
	Jun. 30, 2019
Research And Development [Abstract]
Summary of Capitalized Software Development Costs, Exclusive of those Recorded within Property and Equipment	Capitalized software development costs, exclusive of those recorded within property and equipment, consisted of the following: June 30, 2019 December 31, 2018 (in thousands) Gross capitalized software development costs $ 52,406 $ 46,169 Accumulated amortization (38,790 ) (33,423 ) Capitalized software development costs, net $ 13,616 $ 12,746
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 June 30, Six Months Ended June 30, 2019 2018 2019 2018 (in thousands) (in thousands) Software development costs capitalized $ 2,959 $ 3,576 $ 6,237 $ 6,521 Stock-based compensation included in capitalized software development costs $ 607 $ 796 $ 1,115 $ 1,346 Amortization of capitalized software development costs $ 2,572 $ 2,323 $ 5,067 $ 4,327

0.25% Convertible Senior Note_2

0.25% Convertible Senior Notes, Convertible Note Hedge and Warrant (Tables)	6 Months Ended
	Jun. 30, 2019
Debt Instrument [Line Items]
Schedule of Interest Expense	Interest expense related to the 2022 Notes is as follows: Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 (in thousands) (in thousands) Contractual interest expense $ 250 $ 250 $ 500 $ 500 Amortization of debt discount 5,039 4,703 9,934 9,270 Amortization of issuance costs 376 351 741 692 Total interest expense $ 5,665 $ 5,304 $ 11,175 $ 10,462
0.25% Convertible Senior Notes Due 2022 as Liability Component [Member]
Debt Instrument [Line Items]
Schedule of Net Carrying Amount of Notes	The net carrying amount of the liability component of the 2022 Notes is as follows: As of June 30, 2019 As of December 31, 2018 (in thousands) Principal $ 400,000 $ 400,000 Unamortized debt discount (65,641 ) (75,575 ) Unamortized issuance costs (4,902 ) (5,643 ) Net carrying amount $ 329,457 $ 318,782

Commitments and Contingencies (

Commitments and Contingencies (Tables)	6 Months Ended
	Jun. 30, 2019
Commitments And Contingencies Disclosure [Abstract]
Schedule of Future Minimum Payments	Future minimum payments under all operating and finance lease agreements as of June 30, 2019 are as follows: Operating Finance (in thousands) 2019 $ 14,101 108 2020 37,360 — 2021 40,520 — 2022 40,417 — 2023 40,063 — Thereafter 197,934 — Total $ 370,395 108 Less: Portion representing interest — Capital lease obligation 108 As previously disclosed in our 2018 Annual Report on Form 10-K and under the previous lease accounting standard, ASC 840, Leases Operating Finance (in thousands) 2019 $ 27,755 $ 298 2020 33,769 33 2021 35,414 — 2022 35,314 — 2023 35,686 — Thereafter 184,341 — Total $ 352,279 331 Less: Portion representing interest (20 ) Capital lease obligation $ 311

Changes in Stockholders' Equi_2

Changes in Stockholders' Equity (Tables)	6 Months Ended
	Jun. 30, 2019
Stockholders Equity Note [Abstract]
Summary of Changes in Stockholders' Equity	The following tables summarize the changes in stockholders’ equity for the six months ended June 30, 2019 and 2018. Common Stock, $0.001 Par Value Additional Paid-In Accumulated Other Comprehensive Accumulated Shares Amount Capital Income (Loss) Deficit Total Balances at December 31, 2018 39,300 $ 40 $ 589,708 $ (723 ) $ (344,384 ) $ 244,641 Issuance of common stock under stock plans, net of shares withheld for employee taxes 440 1 1,161 — — 1,162 Issuance of common stock in relation to common stock offering, net of offering costs incurred $365 2,151 2 342,628 — — 342,630 Stock-based compensation — — 21,548 — 21,548 Cumulative translation adjustment — — — (304 ) — (304 ) Unrealized gain on investments, net of income taxes of $113 — — — 426 — 426 Net loss — — — — (11,100 ) (11,100 ) Balances at March 31, 2019 41,891 $ 43 $ 955,045 $ (601 ) $ (355,484 ) $ 599,003 Issuance of common stock under stock plans, net of shares withheld for employee taxes 385 $ — $ 6,595 $ — $ — $ 6,595 Stock-based compensation — — 29,061 — — 29,061 Cumulative translation adjustment — — — 254 — 254 Unrealized gain on investments, net of income taxes of $156 — — — 588 — 588 Net loss — — — — (17,357 ) (17,357 ) Balances at June 30, 2019 42,276 $ 43 $ 990,701 $ 241 $ (372,841 ) $ 618,144 Common Stock, $0.001 Par Value Additional Paid-In Accumulated Other Comprehensive Accumulated Shares Amount Capital Income (Loss) Deficit Total Balances at December 31, 2017 37,503 $ 38 $ 496,461 $ (57 ) $ (286,082 ) $ 210,360 Issuance of common stock under stock plans, net of shares withheld for employee taxes 571 1 3,877 — — 3,878 Stock-based compensation — — 16,596 — — 16,596 Cumulative adjustment from adoption of revenue recognition standard — — — — 5,793 5,793 Cumulative translation adjustment — — — 298 — 298 Unrealized gain on investments, net of income taxes of $20 — — — (379 ) — (379 ) Net loss — — — — (15,448 ) (15,448 ) Balances at March 31, 2018 38,074 $ 39 $ 516,934 $ (138 ) $ (295,737 ) $ 221,098 Issuance of common stock under stock plans, net of shares withheld for employee taxes 459 $ — $ 5,138 $ — $ — $ 5,138 Stock-based compensation — — 20,471 — — 20,471 Cumulative adjustment from adoption of revenue recognition standard — — — — (267 ) (267 ) Cumulative translation adjustment — — — (720 ) — (720 ) Unrealized gain on investments, net of income taxes of $56 — — — 144 — 144 Net loss — — — — (18,225 ) (18,225 ) Balances at June 30, 2018 38,533 $ 39 $ 542,543 $ (714 ) $ (314,229 ) $ 227,639

Changes in Accumulated Other _2

Changes in Accumulated Other Comprehensive Loss (Tables)	6 Months Ended
	Jun. 30, 2019
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’ equity, for the six months ended June 30, 2019. Cumulative Translation Adjustment Unrealized Gain on Investments Total (in thousands) Beginning balance at January 1, 2019 $ (397 ) $ (326 ) $ (723 ) Other comprehensive loss before reclassifications (50 ) 1,014 $ 964 Amounts reclassified from accumulated other comprehensive income — — — Ending balance at June 30, 2019 $ (447 ) $ 688 $ 241

Stock-Based Compensation Expe_2

Stock-Based Compensation Expense (Tables)	6 Months Ended
	Jun. 30, 2019
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Schedule of Stock-Based Compensation Expense by Award Type	The following two tables show stock-based compensation expense by award type and where the stock-based compensation expense is recorded in the Company’s consolidated statements of operations: Three Months End June 30, Six Months Ended June 30, 2019 2018 2019 2018 (in thousands) (in thousands) Options $ 1,381 $ 1,259 $ 2,672 $ 2,593 RSUs 26,083 17,798 44,822 32,039 Employee stock purchase plan 1,199 618 2,375 1,089 Total stock-based compensation expense $ 28,663 $ 19,675 $ 49,869 $ 35,721
Effect of Stock-Based Compensation on Income by Line Item	Effect of stock-based compensation expense on income by line item: Three Months End June 30, Six Months Ended June 30, 2019 2018 2019 2018 (in thousands) (in thousands) Cost of revenue, subscription $ 822 $ 317 $ 1,437 $ 594 Cost of revenue, professional services and other 666 846 1,685 1,536 Research and development 10,553 6,111 17,644 10,875 Sales and marketing 10,523 7,937 18,327 14,429 General and administrative 6,099 4,464 10,776 8,287 Total stock-based compensation expense $ 28,663 $ 19,675 $ 49,869 $ 35,721

Segment Information and Geogr_2

Segment Information and Geographic Data (Tables)	6 Months Ended
	Jun. 30, 2019
Segment Reporting [Abstract]
Revenues by Geographical Region	Revenues by geographical region: Three Months End June 30, Six Months Ended June 30, 2019 2018 2019 2018 Americas $ 111,181 $ 86,486 $ 215,470 $ 168,644 Europe 40,283 28,172 76,959 53,382 Asia Pacific 11,791 7,918 22,624 15,106 Total $ 163,255 $ 122,576 $ 315,053 $ 237,132 Percentage of revenues generated outside of the Americas 32 % 29 % 32 % 29 %
Long Lived Assets by Geographical Region	Total long-lived assets by geographical region: As of June 30, 2019 As of December 31, 2018 Americas $ 38,346 $ 35,186 Europe 16,168 13,913 Asia Pacific 3,957 3,369 Total long-lived assets $ 58,471 $ 52,468 Percentage of long-lived assets held outside of the Americas 34 % 33 %

Organization and Operations - A

Organization and Operations - Additional Information (Detail) - USD ($) shares in Thousands, $ in Thousands	Feb. 19, 2019	Mar. 31, 2019	Jun. 30, 2019
Organization And Operations [Line Items]
Aggregate proceeds from offering, net of underwriters' discounts and commissions	$ 343,000		$ 342,628
Offering expenses			$ 365
Common Stock [Member]
Organization And Operations [Line Items]
Common stock sold to public	2,200	2,151
Offering expenses	$ 400

Leases - Additional Information

Leases - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2019	Dec. 31, 2018
Lessee Lease Description [Line Items]
Right-of-use assets	$ 224,980	$ 224,980
Total assets	1,463,492	1,463,492	$ 833,953
Short-term lease liabilities	15,415	15,415
Accrued expenses and other current liabilities	28,546	28,546	22,305
Long-term lease liabilities	234,724	234,724
Deferred rent, net of current portion			26,445
Total liabilities	845,348	845,348	$ 589,312
Operating lease costs	7,600	14,400
Operating sublease income	600	1,100
Finance lease costs related to amortization finance lease assets	100	200
Finance lease interest expense	0	0
Cash payments related to operating lease liabilities	9,100	14,700
Cash payments related to financing lease liabilities	100	200
Adjustment [Member] | ASC Topic 842 [Member]
Lessee Lease Description [Line Items]
Right-of-use assets	152,200	152,200
Other assets	300	300
Total assets	151,900	151,900
Short-term lease liabilities	14,100	14,100
Accrued expenses and other current liabilities	500	500
Total current liabilities	13,500	13,500
Long-term lease liabilities	164,800	164,800
Deferred rent, net of current portion	26,400	26,400
Total liabilities	$ 151,900	$ 151,900

Leases - Summary of Lease Asset

Leases - Summary of Lease Assets and Liabilities (Details) $ in Thousands	Jun. 30, 2019USD ($)
Assets And Liabilities Lessee [Abstract]
Operating lease assets	$ 224,980
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	us-gaap:OperatingLeaseRightOfUseAsset
Finance lease assets	$ 144
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	us-gaap:PropertyPlantAndEquipmentNet
Total leased assets	$ 225,124
Operating lease liabilities	$ 15,415
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	us-gaap:OperatingLeaseLiabilityCurrent
Finance lease liabilities	$ 108
Finance Lease, Liability, Current, Statement of Financial Position [Extensible List]	hubs:AccruedExpensesAndOtherCurrentLiabilities
Lease liabilities, net of current portion	$ 234,724
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	us-gaap:OperatingLeaseLiabilityNoncurrent
Total lease liabilities	$ 250,247

Leases - Summary of Reconciliat

Leases - Summary of Reconciliation between Non-cancelable Lease Commitments and Lease Liabilities (Detail) $ in Thousands	Jun. 30, 2019USD ($)
Leases [Abstract]
Lease commitments, Operating leases	$ 370,395
Less: Legally binding minimum lease payments for leases signed but not yet commenced, Operating leases	(41,450)
Less: Present value discount, Operating leases	(78,806)
Total lease liabilities, Operating leases	250,139
Lease commitments, Finance leases	108
Total lease liabilities, finance leases	$ 108

Leases - Summary of Weighted Av

Leases - Summary of Weighted Average Remaining Lease Terms and Weighted Average Discount Rate for Operating and Finance Leases (Detail)	Jun. 30, 2019
Weighted-average remaining lease term:
Operating leases	9 years 8 months 12 days
Finance leases	8 months 12 days
Weighted-average discount rate:
Operating leases	5.80%
Finance leases	3.80%

Revenues - Additional Informati

Revenues - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended			6 Months Ended
	Jun. 30, 2019	Sep. 30, 2018	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
Revenue Initial Application Period Cumulative Effect Transition [Line Items]
Additions in deferred revenue				$ 12,600
Additional Invoicing				327,700
Total revenues	$ 163,255		$ 122,576	315,053	$ 237,132
Deferred revenue, revenue recognized	141,400	$ 101,400
Revenue remaining performance obligation, contracts exceeds one year	142,100			$ 142,100
Revenue remaining performance obligation contract period				1 year
Revenue remaining performance obligation percentage recognized				94.00%
Short-term deferred revenue	195,509			$ 195,509		$ 183,305
Increase in deferred commission expense	2,400			5,500
Incremental costs of deferred sales commission expense	10,100			20,300
Amortization of deferred commission expense	7,700			$ 14,800
Minimum [Member]
Revenue Initial Application Period Cumulative Effect Transition [Line Items]
Amortization period of deferred commissions				1 year
Maximum [Member]
Revenue Initial Application Period Cumulative Effect Transition [Line Items]
Amortization period of deferred commissions				3 years
Accrued Expenses and Other Current Liabilities [Member]
Revenue Initial Application Period Cumulative Effect Transition [Line Items]
Short-term deferred revenue	$ 1,500			$ 1,500		$ 1,600

Revenues - Additional Informa_2

Revenues - Additional Information1 (Detail)	Jun. 30, 2019
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2019-07-01
Revenue Initial Application Period Cumulative Effect Transition [Line Items]
Revenue remaining performance obligations recognition period	24 months

Net Loss per Share - Summary of

Net Loss per Share - Summary of Reconciliation of Denominator Used in Calculation of Basic and Diluted Net Loss Per Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2018	Mar. 31, 2018	Jun. 30, 2019	Jun. 30, 2018
Earnings Per Share Basic And Diluted [Abstract]
Net loss	$ (17,357)	$ (11,100)	$ (18,225)	$ (15,448)	$ (28,457)	$ (33,673)
Weighted-average common shares outstanding — basic	42,127		38,350		41,352	38,093
Weighted-average common shares, outstanding — diluted	42,127		38,350		41,352	38,093
Net loss per share, basic and diluted	$ (0.41)		$ (0.48)		$ (0.69)	$ (0.88)

Net Loss per Share - Schedule o

Net Loss per Share - Schedule of Potentially Dilutive Common Stock Equivalents (Detail) - shares shares in Thousands	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
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	1,678	2,026
RSUs [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share	1,948	2,318
Conversion Option of the 2022 Notes [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share	1,929	844
Common Stock Warrants [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share	1,420	93
ESPP [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share	2	19

Net Loss per Share - Additional

Net Loss per Share - Additional Information (Detail) - 0.25% Convertible Senior Notes Due 2022 as Liability Component [Member]	3 Months Ended
	Jun. 30, 2019d$ / shares
Earnings Per Share Basic [Line Items]
Common stock conversion price | $ / shares	$ 94.77
Debt instrument, convertible, threshold trading days	20
Debt instrument, convertible, threshold consecutive trading days	30
Percentage of closing price to trigger debt conversion	130.00%

Fair Value of Financial Instr_3

Fair Value of Financial Instruments - Schedule of Fair Value of Financial Assets and Liabilities (Detail) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of short and long term investments	$ 755,743	$ 492,211
Fair value of financial assets	886,598	499,415
Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of financial assets	88,394	1,579
Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of financial assets	798,204	497,836
Money Market Funds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of cash and cash equivalents	88,394	1,579
Money Market Funds [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of cash and cash equivalents	88,394	1,579
Commercial Paper [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of short and long term investments	4,083	8,242
Commercial Paper [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of short and long term investments	4,083	8,242
Corporate Bonds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of short and long term investments	71,877	70,728
Corporate Bonds [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of short and long term investments	71,877	70,728
US Treasury Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of short and long term investments	714,722	413,241
US Treasury Securities [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of short and long term investments	714,722	413,241
Certificates of Deposit [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of restricted cash	7,522	5,625
Certificates of Deposit [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of restricted cash	$ 7,522	$ 5,625

Fair Value of Financial Instr_4

Fair Value of Financial Instruments - Additional Information (Detail) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Other assets	$ 8,052	$ 6,888
Strategic Investments [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Other assets	4,400	$ 4,000
2022 Notes [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Fair value of notes	$ 744,200

Fair Value of Financial Instr_5

Fair Value of Financial Instruments - Summary of Composition of Short and Long Term Investments (Detail) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	$ 754,794	$ 492,537
Unrealized Gains	978	59
Unrealized Losses	(29)	(385)
Aggregate Fair Value	755,743	492,211
Commercial Paper [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	4,083	8,256
Unrealized Losses		(14)
Aggregate Fair Value	4,083	8,242
Corporate Bonds [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	71,716	70,958
Unrealized Gains	190	3
Unrealized Losses	(29)	(233)
Aggregate Fair Value	71,877	70,728
US Treasury Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	678,995	413,323
Unrealized Gains	788	56
Unrealized Losses		(138)
Aggregate Fair Value	$ 679,783	$ 413,241

Fair Value of Financial Instr_6

Fair Value of Financial Instruments - Summary of Contractual Maturities of Short and Long Term Investments (Detail) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Fair Value Disclosures [Abstract]
Amortized Cost Basis, Due within one year	$ 716,328	$ 481,071
Amortized Cost Basis, Due after 1 year through 2 years	38,466	11,466
Amortized Cost	754,794	492,537
Aggregate Fair Value, Due within one year	717,115	480,761
Aggregate Fair Value, Due after 1 year through 2 years	38,628	11,450
Aggregate Fair Value, Total	$ 755,743	$ 492,211

Restricted Cash - Summary of Re

Restricted Cash - Summary of Reconciliation of Cash, Cash Equivalents and Restricted Cash (Detail) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018	Jun. 30, 2018
Cash And Cash Equivalents [Abstract]
Cash and cash equivalents	$ 238,080	$ 111,489	$ 98,426
Restricted cash	6,019	5,175	5,175
Restricted cash, included in other assets	$ 1,503	$ 450	$ 450
Restricted Cash, Asset, Statement of Financial Position [Extensible List]	us-gaap:OtherAssets	us-gaap:OtherAssets	us-gaap:OtherAssets
Total cash, cash equivalents, and restricted cash	$ 245,602	$ 117,114	$ 104,051

Property and Equipment, Net - A

Property and Equipment, Net - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Property Plant And Equipment [Abstract]
Depreciation and amortization	$ 3.7	$ 3.1	$ 7.4	$ 6.1

Property and Equipment, Net - S

Property and Equipment, Net - Schedule of Property and Equipment, Net (Detail) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 100,043	$ 86,910
Less accumulated depreciation and amortization	(41,572)	(34,442)
Property and equipment, net	58,471	52,468
Computer Equipment and Purchased Software [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment	9,683	8,163
Employee Computer Equipment [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment	10,834	8,972
Furniture and Fixtures [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment	14,010	13,019
Office Equipment [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment	2,551	2,551
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment	50,217	42,894
Equipment under Capital Lease [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment	3,450	3,450
Internal Use Software [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment	6,317	5,363
Construction in Progress [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 2,981	$ 2,498

Capitalized Software Developm_3

Capitalized Software Development Costs - Summary of Capitalized Software Development Costs, Exclusive of those Recorded within Property and Equipment (Detail) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Capitalized Computer Software Net [Abstract]
Gross capitalized software development costs	$ 52,406	$ 46,169
Accumulated amortization	(38,790)	(33,423)
Capitalized software development costs, net	$ 13,616	$ 12,746

Capitalized Software Developm_4

Capitalized Software Development Costs - Additional Information (Detail)	6 Months Ended
	Jun. 30, 2019
Capitalized Software Development Costs [Member]
Capitalized Computer Software [Line Items]
Property and equipment, estimated useful life	2 years

Capitalized Software Developm_5

Capitalized Software Development Costs - Summary of Capitalized Software Development Costs Including Stock-Based Compensation and Amortization (Detail) - Internal Use Software [Member] - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Capitalized Computer Software [Line Items]
Software development costs capitalized	$ 2,959	$ 3,576	$ 6,237	$ 6,521
Stock-based compensation included in capitalized software development costs	607	796	1,115	1,346
Amortization of capitalized software development costs	$ 2,572	$ 2,323	$ 5,067	$ 4,327

0.25% Convertible Senior Note_3

0.25% Convertible Senior Notes, Convertible Note Hedge and Warrant - Additional Information (Detail) - 0.25% Convertible Senior Notes Due 2022 [Member]	1 Months Ended	6 Months Ended
	May 31, 2017USD ($)d	Jun. 30, 2019
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage	0.25%
Debt instrument, maturity date		Jun. 1, 2022
Debt instrument, convertible, threshold trading days | d	20
Debt instrument, convertible, threshold consecutive trading days | d	30
Percentage of closing price to trigger debt conversion	130.00%
Private Offering [Member]
Debt Instrument [Line Items]
Principal amount of long term debt | $	$ 350,000,000
Over-Allotment Options [Member]
Debt Instrument [Line Items]
Principal amount of long term debt | $	$ 50,000,000

0.25% Convertible Senior Note_4

0.25% Convertible Senior Notes, Convertible Note Hedge and Warrant - Schedule of Net Carrying Amount of Liability Component (Detail) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Net carrying amount	$ 329,457	$ 318,782
0.25% Convertible Senior Notes Due 2022 as Liability Component [Member]
Debt Instrument [Line Items]
Principal	400,000	400,000
Unamortized debt discount	(65,641)	(75,575)
Unamortized issuance costs	(4,902)	(5,643)
Net carrying amount	$ 329,457	$ 318,782

0.25% Convertible Senior Note_5

0.25% Convertible Senior Notes, Convertible Note Hedge and Warrant - Schedule of Interest Expense (Detail) - 0.25% Convertible Senior Notes Due 2022 [Member] - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Debt Instrument [Line Items]
Contractual interest expense	$ 250	$ 250	$ 500	$ 500
Amortization of debt discount	5,039	4,703	9,934	9,270
Amortization of issuance costs	376	351	741	692
Total interest expense	$ 5,665	$ 5,304	$ 11,175	$ 10,462

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) - USD ($) $ in Thousands	1 Months Ended	6 Months Ended
	Mar. 31, 2019	Jun. 30, 2019
Operating And Capital Leased Assets [Line Items]
Improvement reimbursements from landlords		$ 13,800
Increase in future lease commitments		83,600
Lease operating lease commitments that have not yet commenced		$ 41,450
Agreement maturity period	2023-06
Renewal Agreement [Member] | Web Hosting Vendor [Member]
Operating And Capital Leased Assets [Line Items]
Lessee, operating lease, existence of option to extend	true
Description of option to extend lease facility		In March 2019, the Company exercised an option to extend an agreement with a technology vendor for an additional two years through June 2023.
Extended renewal agreement term	2 years
Contractual obligation over additional two years	$ 57,000
United States [Member]
Operating And Capital Leased Assets [Line Items]
Lease operating lease commitments that have not yet commenced		$ 41,400
Operating lease term		9 years
Singapore [Member]
Operating And Capital Leased Assets [Line Items]
Lease operating lease commitments that have not yet commenced		$ 41,400
Operating lease term		4 years

Commitments and Contingencies_2

Commitments and Contingencies - Schedule of Future Minimum Payments (Detail) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Commitments And Contingencies Disclosure [Abstract]
Operating, 2019	$ 14,101
Operating, 2020	37,360
Operating, 2021	40,520
Operating, 2022	40,417
Operating, 2023	40,063
Operating, Thereafter	197,934
Lease commitments, Operating leases	370,395
Finance, 2019	108
Lease commitments, Finance leases	108
Capital lease obligation	$ 108
Operating, 2019		$ 27,755
Operating, 2020		33,769
Operating, 2021		35,414
Operating, 2022		35,314
Operating, 2023		35,686
Operating, Thereafter		184,341
Operating, Total		352,279
Finance, 2019		298
Finance, 2020		33
Finance, Total		331
Less: Portion representing interest		(20)
Capital lease obligation		$ 311

Changes in Stockholders' Equi_3

Changes in Stockholders' Equity - Summary of Changes in Stockholders' Equity (Detail) - USD ($) shares in Thousands, $ in Thousands	Feb. 19, 2019	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2018	Mar. 31, 2018	Jun. 30, 2019	Jun. 30, 2018
Class Of Stock [Line Items]
Beginning Balance, Amount		$ 599,003	$ 244,641	$ 221,098	$ 210,360	$ 244,641	$ 210,360
Issuance of common stock under stock plans, net of shares withheld for employee taxes		6,595	1,162	5,138	3,878
Issuance of common stock in relation to common stock offering, net of offering costs incurred $365			342,630
Stock-based compensation		29,061	21,548	20,471	16,596
Cumulative adjustment from adoption of stock compensation standard				(267)	5,793
Cumulative translation adjustment		254	(304)	(720)	298
Unrealized gain on investments, net of income taxes of $113, 156, 20 and 56		588	426	144	(379)
Net loss		(17,357)	(11,100)	(18,225)	(15,448)	(28,457)	(33,673)
Ending Balance, Amount		618,144	599,003	227,639	221,098	618,144	227,639
Common Stock [Member]
Class Of Stock [Line Items]
Beginning Balance, Amount		$ 43	$ 40	$ 39	$ 38	$ 40	$ 38
Beginning Balance, Shares		41,891	39,300	38,074	37,503	39,300	37,503
Issuance of common stock under stock plans, net of shares withheld for employee taxes			$ 1		$ 1
Issuance of common stock under stock plans, net of shares withheld for employee taxes, Shares		385	440	459	571
Issuance of common stock in relation to common stock offering, net of offering costs incurred $365			$ 2
Issuance of common stock in relation to common stock offering, net of offering costs incurred $365, Shares	2,200		2,151
Ending Balance, Amount		$ 43	$ 43	$ 39	$ 39	$ 43	$ 39
Ending Balance, Shares		42,276	41,891	38,533	38,074	42,276	38,533
Additional Paid-In Capital [Member]
Class Of Stock [Line Items]
Beginning Balance, Amount		$ 955,045	$ 589,708	$ 516,934	$ 496,461	$ 589,708	$ 496,461
Issuance of common stock under stock plans, net of shares withheld for employee taxes		6,595	1,161	5,138	3,877
Issuance of common stock in relation to common stock offering, net of offering costs incurred $365			342,628
Stock-based compensation		29,061	21,548	20,471	16,596
Ending Balance, Amount		990,701	955,045	542,543	516,934	990,701	542,543
Accumulated Other Comprehensive Income (Loss) [Member]
Class Of Stock [Line Items]
Beginning Balance, Amount		(601)	(723)	(138)	(57)	(723)	(57)
Cumulative translation adjustment		254	(304)	(720)	298
Unrealized gain on investments, net of income taxes of $113, 156, 20 and 56		588	426	144	(379)
Ending Balance, Amount		241	(601)	(714)	(138)	241	(714)
Accumulated Deficit [Member]
Class Of Stock [Line Items]
Beginning Balance, Amount		(355,484)	(344,384)	(295,737)	(286,082)	(344,384)	(286,082)
Cumulative adjustment from adoption of stock compensation standard				(267)	5,793
Net loss		(17,357)	(11,100)	(18,225)	(15,448)
Ending Balance, Amount		$ (372,841)	$ (355,484)	$ (314,229)	$ (295,737)	$ (372,841)	$ (314,229)

Changes in Stockholders' Equi_4

Changes in Stockholders' Equity - Summary of Changes in Stockholders' Equity (Parenthetical) (Detail) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2018	Mar. 31, 2018
Stockholders Equity Note [Abstract]
Offering costs incurred		$ 365
Unrealized gain (loss) on investments, tax	$ 156	$ 113	$ 56	$ 20

Changes in Accumulated Other _3

Changes in Accumulated Other Comprehensive Loss - Changes in Accumulated Other Comprehensive Loss (Detail) $ in Thousands	6 Months Ended
	Jun. 30, 2019USD ($)
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning Balance, Amount	$ 244,641
Other comprehensive loss before reclassifications	964
Ending Balance, Amount	618,144
Cumulative Translation Adjustment [Member]
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning Balance, Amount	(397)
Other comprehensive loss before reclassifications	(50)
Ending Balance, Amount	(447)
Unrealized Gain on Investments [Member]
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning Balance, Amount	(326)
Other comprehensive loss before reclassifications	1,014
Ending Balance, Amount	688
Accumulated Other Comprehensive Loss [Member]
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning Balance, Amount	(723)
Ending Balance, Amount	$ 241

Stock-Based Compensation Expe_3

Stock-Based Compensation Expense - Schedule of Stock-Based Compensation Expense by Award Type (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	$ 28,663	$ 19,675	$ 49,869	$ 35,721
Common Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	1,381	1,259	2,672	2,593
RSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	26,083	17,798	44,822	32,039
Employee Stock Purchase Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	$ 1,199	$ 618	$ 2,375	$ 1,089

Stock-Based Compensation Expe_4

Stock-Based Compensation Expense - Effect of Stock-Based Compensation on Income by Line Item (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	$ 28,663	$ 19,675	$ 49,869	$ 35,721
Cost of Revenue, Subscription [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	822	317	1,437	594
Cost of Revenue, Professional Services and Other [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	666	846	1,685	1,536
Research and Development [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	10,553	6,111	17,644	10,875
Sales and Marketing [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	10,523	7,937	18,327	14,429
General and Administrative [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	$ 6,099	$ 4,464	$ 10,776	$ 8,287

Stock-Based Compensation Expe_5

Stock-Based Compensation Expense - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Software Development [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Capitalized software development costs excluded from stock based compensation	$ 607	$ 796	$ 1,115	$ 1,346

Segment Information and Geogr_3

Segment Information and Geographic Data - Additional Information (Detail) - Segment	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Segment Reporting Information [Line Items]
Number of operating segment			1
Revenue [Member] | Outside Of United States [Member] | Geographic Concentration Risk [Member]
Segment Reporting Information [Line Items]
Concentration risk, percentage	40.00%	37.00%	39.00%	37.00%

Segment Information and Geogr_4

Segment Information and Geographic Data - Revenues by Geographical Region (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Segment Reporting Information [Line Items]
Total revenues	$ 163,255	$ 122,576	$ 315,053	$ 237,132
Americas [Member]
Segment Reporting Information [Line Items]
Total revenues	111,181	86,486	215,470	168,644
Europe [Member]
Segment Reporting Information [Line Items]
Total revenues	40,283	28,172	76,959	53,382
Asia Pacific [Member]
Segment Reporting Information [Line Items]
Total revenues	$ 11,791	$ 7,918	$ 22,624	$ 15,106
Revenue [Member] | Outside Of Americas [Member] | Geographic Concentration Risk [Member]
Segment Reporting Information [Line Items]
Percentage of revenues generated outside of the Americas	32.00%	29.00%	32.00%	29.00%

Segment Information and Geogr_5

Segment Information and Geographic Data - Long Lived Assets by Geographical Region (Detail) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2019	Dec. 31, 2018
Segment Reporting Information [Line Items]
Total long lived assets	$ 58,471	$ 52,468
Americas [Member]
Segment Reporting Information [Line Items]
Total long lived assets	38,346	35,186
Europe [Member]
Segment Reporting Information [Line Items]
Total long lived assets	16,168	13,913
Asia Pacific [Member]
Segment Reporting Information [Line Items]
Total long lived assets	$ 3,957	$ 3,369
Outside Of Americas [Member] | Assets Total [Member] | Geographic Concentration Risk [Member]
Segment Reporting Information [Line Items]
Percentage of long lived assets held outside of the Americas	34.00%	33.00%