Document and Entity Information
Document and Entity Information - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Feb. 12, 2018 | Jun. 30, 2017 | |
Document Type | 10-K | ||
Amendment Flag | false | ||
Document Period End Date | Dec. 31, 2017 | ||
Document Fiscal Year Focus | 2,017 | ||
Document Fiscal Period Focus | FY | ||
Trading Symbol | APTI | ||
Entity Registrant Name | Apptio Inc | ||
Entity Central Index Key | 1,419,625 | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Filer Category | Accelerated Filer | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Public Float | $ 433,665,471 | ||
Class A Common Stock | |||
Entity Common Stock, Shares Outstanding | 30,063,886 | ||
Class B Common Stock | |||
Entity Common Stock, Shares Outstanding | 12,552,035 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Current assets | ||
Cash and cash equivalents | $ 55,069 | $ 42,007 |
Short-term investments | 93,901 | 36,741 |
Accounts receivable, net of allowance for doubtful accounts of $569 and $289 | 68,782 | 58,587 |
Prepaid expenses and other current assets | 5,079 | 5,440 |
Total current assets | 222,831 | 142,775 |
Long-term assets | ||
Property and equipment, net of accumulated depreciation of $17,091 and $12,774 | 10,437 | 12,827 |
Long-term investments | 38,446 | |
Other long-term assets | 983 | 734 |
Total assets | 234,251 | 194,782 |
Current liabilities | ||
Accounts payable | 5,598 | 3,574 |
Accrued payroll and other expenses | 16,481 | 14,073 |
Deferred revenue | 116,831 | 97,885 |
Deferred rent | 892 | 799 |
Capital leases | 21 | 43 |
Total current liabilities | 139,823 | 116,374 |
Long-term liabilities | ||
Deferred revenue, net of current portion | 2,470 | 2,254 |
Deferred rent, net of current portion | 3,483 | 4,360 |
Capital leases, net of current portion | 26 | 51 |
Asset retirement obligation | 199 | 175 |
Total liabilities | 146,001 | 123,214 |
Commitments and contingencies (Note 11) | ||
Stockholders’ equity | ||
Class A and Class B Common stock | 4 | 4 |
Additional paid-in capital | 314,301 | 271,982 |
Accumulated other comprehensive loss | (110) | (94) |
Accumulated deficit | (225,945) | (200,324) |
Total stockholders’ equity | 88,250 | 71,568 |
Total liabilities and stockholders' equity | $ 234,251 | $ 194,782 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Statement Of Financial Position [Abstract] | ||
Allowance for doubtful accounts | $ 413 | $ 122 |
Accumulated depreciation | $ 21,924 | $ 17,091 |
Consolidated Statement of Opera
Consolidated Statement of Operations - USD ($) shares in Thousands, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Revenue | |||
Subscription | $ 155,417 | $ 130,061 | $ 99,924 |
Professional services | 33,102 | 30,508 | 29,327 |
Total revenue | 188,519 | 160,569 | 129,251 |
Cost of revenue | |||
Subscription | 29,650 | 27,298 | 23,457 |
Professional services | 28,903 | 26,862 | 25,720 |
Total cost of revenue | 58,553 | 54,160 | 49,177 |
Gross profit | 129,966 | 106,409 | 80,074 |
Operating expenses | |||
Research and development | 40,550 | 35,475 | 30,553 |
Sales and marketing | 87,949 | 75,856 | 71,337 |
General and administrative | 27,706 | 23,229 | 17,763 |
Total operating expenses | 156,205 | 134,560 | 119,653 |
Loss from operations | (26,239) | (28,151) | (39,579) |
Other income (expense) | |||
Interest income (expense) and other, net | 1,204 | (1,533) | (18) |
Foreign exchange loss | (25) | (1,417) | (1,301) |
Loss before provision for income taxes | (25,060) | (31,101) | (40,898) |
Provision for income taxes | (561) | (452) | (109) |
Net loss | $ (25,621) | $ (31,553) | $ (41,007) |
Net loss per share attributable to common stockholders, basic and diluted | $ (0.64) | $ (1.61) | $ (3.24) |
Weighted-average shares used to compute net loss per share attributable to common stockholders, basic and diluted | 39,754 | 19,595 | 12,653 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Statement Of Income And Comprehensive Income [Abstract] | |||
Net loss | $ (25,621) | $ (31,553) | $ (41,007) |
Other comprehensive loss | |||
Unrealized loss on available-for-sale securities | (16) | (94) | (2) |
Total comprehensive loss | $ (25,637) | $ (31,647) | $ (41,009) |
Consolidated Statements of Chan
Consolidated Statements of Changes in Convertible Preferred Stock and Stockholders' Equity (Deficit) - USD ($) shares in Thousands, $ in Thousands | Total | Convertible Preferred Stock | Class A and B Common Stock | Additional Paid-In Capital | Accumulated Deficit | Accumulated Other Comprehensive Income (Loss) |
Balances at Dec. 31, 2014 | $ (111,827) | $ 1 | $ 15,934 | $ (127,764) | $ 2 | |
Balances, Convertible Preferred Stock, Shares at Dec. 31, 2014 | 18,240 | |||||
Balances, Convertible Preferred Stock at Dec. 31, 2014 | $ 133,809 | |||||
Balances, Shares at Dec. 31, 2014 | 12,310 | |||||
Stock option exercises | 2,670 | 2,670 | ||||
Stock option exercises, Shares | 587 | |||||
Stock-based compensation | 7,815 | 7,815 | ||||
Issuance of common stock warrants | 90 | 90 | ||||
Comprehensive loss | (41,009) | (41,007) | (2) | |||
Balances at Dec. 31, 2015 | (142,261) | $ 1 | 26,509 | (168,771) | ||
Balances, Convertible Preferred Stock, Shares at Dec. 31, 2015 | 18,240 | |||||
Balances at Dec. 31, 2015 | $ 133,809 | |||||
Balances, Shares at Dec. 31, 2015 | 12,897 | |||||
Proceeds from initial public offering, net of underwriters' discounts | 102,672 | $ 1 | 102,671 | |||
Proceeds from initial public offering, net of underwriters' discounts, Shares | 6,900 | |||||
Initial public offering costs | (3,698) | (3,698) | ||||
Conversion of preferred stock to Class B common stock | 133,809 | $ (133,809) | $ 2 | 133,807 | ||
Conversion of preferred stock to Class B common stock, Shares | (18,240) | 18,240 | ||||
Exercise of warrants | 616 | 616 | ||||
Exercise of warrants, Shares | 40 | |||||
Stock option exercises | 1,333 | 1,333 | ||||
Stock option exercises, Shares | 261 | |||||
Stock-based compensation | 10,459 | 10,459 | ||||
Issuance of common stock warrants | 285 | 285 | ||||
Comprehensive loss | (31,647) | (31,553) | (94) | |||
Balances at Dec. 31, 2016 | 71,568 | $ 4 | 271,982 | (200,324) | (94) | |
Balances, Shares at Dec. 31, 2016 | 38,338 | |||||
Stock option exercises | 21,868 | 21,868 | ||||
Stock option exercises, Shares | 3,335 | |||||
Vesting of restricted stock units, Shares | 128 | |||||
Issuance of stock under employee stock purchase plan | 4,381 | 4,381 | ||||
Issuance of stock under employee stock , Shares | 312 | |||||
Stock-based compensation | 16,070 | 16,070 | ||||
Comprehensive loss | (25,637) | (25,621) | (16) | |||
Balances at Dec. 31, 2017 | $ 88,250 | $ 4 | $ 314,301 | $ (225,945) | $ (110) | |
Balances, Shares at Dec. 31, 2017 | 42,113 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Cash flows from operating activities | |||
Net loss | $ (25,621) | $ (31,553) | $ (41,007) |
Adjustments to reconcile net loss to net cash provided by (used in) operating activities | |||
Depreciation and amortization | 6,101 | 5,988 | 6,486 |
Amortization of premiums on investments | 35 | 38 | 87 |
(Gain) loss on disposal of property and equipment | (4) | 25 | (9) |
Stock-based compensation | 16,070 | 10,459 | 7,815 |
Accretion of capitalized loan fees | 18 | 136 | 62 |
Loss on extinguishment of debt | 722 | ||
Remeasurement of preferred stock warrant liability | 202 | 57 | |
Foreign exchange loss | 25 | 412 | |
Change in operating assets and liabilities | |||
Accounts receivable | (10,784) | (5,765) | (6,193) |
Prepaid expenses and other assets | 3,338 | (3,606) | (970) |
Accounts payable | 2,242 | 278 | 666 |
Accrued expenses | (428) | 1,626 | 2,095 |
Deferred revenue | 19,163 | 16,908 | 19,936 |
Deferred rent | (799) | 136 | 384 |
Net cash provided by (used in) operating activities | 9,356 | (3,994) | (10,591) |
Cash flows from investing activities | |||
Purchases of property and equipment | (3,603) | (5,402) | (7,643) |
Proceeds from sales of equipment | 24 | ||
Proceeds from maturities of investments | 50,457 | 6,245 | 16,839 |
Purchases of investments | (69,222) | (75,303) | (2,715) |
Payments for security deposits | (62) | (184) | 177 |
Net cash (used in) provided by investing activities | (22,406) | (74,644) | 6,658 |
Cash flows from financing activities | |||
Proceeds from exercises of common stock options | 21,868 | 1,333 | 2,670 |
Proceeds from purchases of stock under employee stock purchase plan | 4,381 | ||
Proceeds from initial public offering, net of underwriting discounts | 102,672 | ||
Payment of initial public offering costs | (243) | (2,362) | (1,092) |
Proceeds from long-term debt | 20,000 | ||
Principal payments on long-term debt | (20,000) | ||
Payment of debt prepayment fees | (200) | ||
Principal payments on capital lease obligations | (43) | (43) | (45) |
Payment of capitalized loan fees | (248) | (78) | |
Net cash provided by financing activities | 25,963 | 101,152 | 1,455 |
Foreign currency effect on cash, cash equivalents and restricted cash | 149 | (263) | (37) |
Net increase (decrease) in cash, cash equivalents and restricted cash | 13,062 | 22,251 | (2,515) |
Cash, cash equivalents and restricted cash | |||
Beginning of period | 42,007 | 19,756 | 22,271 |
End of period | 55,069 | 42,007 | 19,756 |
Supplemental disclosures | |||
Cash paid for interest | 1 | 771 | 13 |
Purchases under capital lease obligations | 102 | ||
Property and equipment additions in accounts payable and accrued expenses | $ 453 | 639 | 234 |
Leasehold improvements paid directly by lessor | 356 | ||
Non-cash warrants issued as debt issuance costs | 285 | 90 | |
Initial public offering costs in accounts payable and accrued expenses | 244 | $ 881 | |
Non-cash preferred stock warrant exercise | $ 616 |
Description of Operations and S
Description of Operations and Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2017 | |
Description Of Operations And Summary Of Significant Accounting Policies [Abstract] | |
Description of Operations and Summary of Significant Accounting Policies | Note 1. Description of Operations and Summary of Significant Accounting Policies Operations Apptio, Inc. or the Company, was incorporated on October 2, 2007 and is headquartered in Bellevue, Washington. The Company develops and sells Technology Business Management, or TBM, solutions. The Company’s cloud-based platform and SaaS applications enable IT leaders to analyze, optimize and plan technology investments, and benchmark their financial and operational performance against peers. The Company operates in the United States, the United Kingdom, Germany, Denmark, the Netherlands, Australia, Canada, France, Singapore and Italy. Initial Public Offering In September 2016, the Company completed an initial public offering, or IPO, in which the Company sold 6,900,000 shares of its newly-authorized Class A common stock at the initial price to public of $16.00 per share. The Company received net proceeds of $99.0 million, after deducting underwriting discounts and commissions and offering expenses, from sales of its shares in the IPO. Immediately prior to the completion of the IPO, (1) all shares of common stock then outstanding were converted to Class B common stock on a one-for-one basis, (2) common stock warrants then outstanding were converted to warrants to purchase 47,893 shares of Class B common stock on a one-for-one basis, (3) a warrant to purchase 27,321 shares of convertible preferred stock was converted to a warrant to purchase 27,321 shares of Class B common stock, and (4) all shares of convertible preferred stock then outstanding were converted into 18,239,475 shares of the Company’s common stock on a one-for-one basis, and then reclassified as shares of Class B common stock. See Note 6 for further discussion of Class A and B common stock. Deferred Offering Costs Deferred offering costs of $3.7 million, consisting of legal, accounting and other costs related to the IPO, were reclassified to additional paid-in capital as a reduction of the proceeds upon the closing of our IPO on September 28, 2016. Principles of Consolidation The consolidated financial statements include the Company and its wholly-owned subsidiaries. All significant intercompany balances and transactions have been eliminated. Accounting Principles The consolidated financial statements and accompanying notes were prepared in accordance with accounting principles generally accepted in the United States of America, or GAAP. Use of Estimates The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ materially from those estimates. Certain Significant Risks and Uncertainties The Company continues to be subject to the risks and challenges associated with other companies at a similar stage of development, including risks associated with: dependence on key personnel; successful marketing and sale of its solutions and adaptation of such solutions to changing market dynamics and customer preferences; competition from alternative products and services, including from larger companies that have greater name recognition, longer operating histories, more and better established customer relationships and greater resources than the Company; and the ability to raise additional capital to support future growth. Since inception through December 31, 2017, the Company has incurred losses from operations, and accumulated a deficit of $225.9 million, and has been dependent on equity and debt financing to fund operations. Operating The Company follows The Company operates its business Foreign Currency The functional Comprehensive Certain gains Cash The Company considers all Investments The Company classifies equity ( Fair At December 31, 2017 and 2016 the Company has the following The fair Fair value Level 1 Level 2 . Level 3 The lowest level Allowance for The Company performs If Activity within December 31, 2017 2016 2015 Balance at beginning of period $ 122 $ 289 $ 450 Charges, net of reversals 291 (93 ) (3 ) Write-offs — (74 ) (158 ) Balance at end of period $ 413 $ 122 $ 289 Concentration of Financial Advertising Advertising for the years ended December 31, 2017, 2016 and 2015 , Interest Interest . In 2016 and 2015, interest expense consists of interest on capital leases y Property and Equipment Property Computer and office equipment 2-3 years Software 1-3 years Furniture 3 years Leasehold In . Preferred Stock Warrant The Company classified Immediately prior to the completion of the IPO, the warrant to purchase shares of convertible preferred stock was converted to a warrant to purchase shares of Class B common stock and was no longer classified as a liability on the Company’s consolidated balance sheets. On September 26, 2016, the warrant holder exercised the warrant and the Company issued shares of Class B common stock through a cashless exercise of the warrant, in accordance with its terms. See Note 5 for additional information. Revenue The Company derives its revenue from The Company recognizes The Company enters When The The Company estimates The Company recognizes Professional - If Fees for On Deferred revenue represents Research Research and development Capitalized For development 2015, Cost Allocation The Company allocates Sales Commissions The Company pays sales commissions to Income Taxes The Company follows The Company recognizes The Company’s Stock-Based The Company recognizes The Company’s e Recently Adopted Accounting Pronouncements In May 2017, the Financial Accounting Standards Board, or FASB, issued Accounting Standards Update, or ASU, 2017-09 Compensation-Stock Compensation (Topic 718) Scope of Modification Accounting. The adoption of this standard did not have a material impact on the Company’s financial statements. In March 2016, the FASB issued ASU 2016-09, Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting, adopted this new standard as of January 1, 2017. As of December 31, 2016, the Company has accumulated excess tax benefits from temporary differences resulting from the amount and timing of stock-based compensation expense recorded in our financial statements compared to deductions on its income tax return from the award compensation that reduces the net operating loss deferred tax asset. The Company provided a full valuation allowance against its net deferred tax assets since it has been determined that it is more likely than not that all of the deferred tax assets will not be realized. Upon adoption of this standard, the stock-based compensation excess tax benefit was eliminated, resulting in an increase to the net operating loss deferred tax asset, with a corresponding increase in the valuation allowance. The Company elected to continue to estimate the number of share-based awards expected to vest, rather than electing to account for forfeitures as they occur to determine the amount of stock-based compensation expense to be recognized each period. The adoption of this standard did not have a material impact on the Company’s financial statements. New Accounting Pronouncements Not Yet Adopted In October 2016, the FASB issued ASU 2016-16 , Inter-Entity Transfers of Assets other than Inventory In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606), and the guidance must be applied retrospectively to each prior period presented or retrospectively with the cumulative effect recognized as of the date of adoption. The Company is in process of finalizing its assessment of the new standard, including ascribing the appropriate amortization period to the respective commission costs. The Company adopted the requirements of the new standard on January 1, 2018 and will utilize the full retrospective transition method. The impact of adopting this standard on 2017 and 2016 subscription and services revenue is not material. The primary impact of the standard will be the requirement to capitalize certain contract costs, such as commissions, which are currently being expensed as incurred. Because these costs will now be capitalized and amortized over the period benefited by the transaction, the Company expects that adoption of this standard will result in marginally lower sales and marketing expense in scenarios where current period sales results are higher than the prior period sales results. In scenarios where current period sales results are lower than the prior period sales results, the Company expects sales and marketing expenses will be marginally higher than if the Company had expensed these selling costs as incurred. Under the new standard, the Company will defer commission costs to obtain customer subscription contracts and will amortize these costs over a period of benefit that we have determined to be four years for new subscription agreements, and over the term of the respective subscription for renewals of subscription agreements. Commissions on service arrangements will continue to be expensed as incurred as the term for these arrangements is typically less than 12 months. The Company expects this to materially reduce annual sales and marketing expenses. |
Fair Value Measurements
Fair Value Measurements | 12 Months Ended |
Dec. 31, 2017 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements | Note 2. Fair Value Measurements The following tables present information about the Company’s financial assets and liabilities that have been measured at fair value as of December 31, 2017 and 2016, and indicates the fair value hierarchy of the valuation inputs utilized to determine such fair value (in thousands): December 31, 2017 Level 1 Level 2 Total Money market funds $ 24,225 $ — $ 24,225 Corporate notes and obligations — 38,020 38,020 U.S. government treasury securities 55,881 — 55,881 $ 80,106 $ 38,020 $ 118,126 December 31, 2016 Level 1 Level 2 Total Money market funds $ 18,029 $ — $ 18,029 Corporate notes and obligations — 33,840 33,840 U.S. government treasury securities 41,347 — 41,347 $ 59,376 $ 33,840 $ 93,216 At f c c |
Investments
Investments | 12 Months Ended |
Dec. 31, 2017 | |
Available For Sale Securities [Abstract] | |
Investments | Note 3. Investments Available-for-sale investments consist of fixed-income securities that are accounted for at fair value. Premiums and discounts paid on securities at the time of purchase are recorded as accrued interest and amortized over the period of maturity. The amortized cost and fair value on the available-for-sale investments and unrealized gains and losses as of December 31, 2017 and 2016 were as follows (in thousands): December 31, 2017 Amortized Gross Unrealized Gross Unrealized Fair Cost Gains Losses Value Amounts maturing in one year or less Corporate notes and obligations $ 38,044 $ — $ (24 ) $ 38,020 U.S. government treasury securities 55,967 — (86 ) 55,881 Total short-term available-for-sale debt securities $ 94,011 $ — $ (110 ) $ 93,901 December 31, 2016 Amortized Gross Unrealized Gross Unrealized Fair Cost Gains Losses Value Amounts maturing in one year or less Corporate notes and obligations $ 29,866 $ — $ (25 ) $ 29,841 U.S. government treasury securities 6,900 — — 6,900 Total short-term available-for-sale debt securities $ 36,766 $ — $ (25 ) $ 36,741 Amounts maturing in greater than one year Corporate notes and obligations $ 4,010 $ — $ (11 ) $ 3,999 U.S. government treasury securities 34,505 — (58 ) 34,447 Total long-term available-for-sale debt securities $ 38,515 $ — $ (69 ) $ 38,446 As interest rates increase, those securities purchased at a lower yield show a mark-to-market unrealized loss. The longer the duration of these securities, the more susceptible they are to changes in market interest rates and bond yields. The unrealized losses are due primarily to changes in interest rates. The Company regularly reviews investments for other-than-temporary impairment using both qualitative and quantitative criteria. The following table presents gross unrealized losses and fair values for those investments that were in an unrealized loss position as of December 31, 2017, aggregated by investment category and the length of time that individual securities have been in a continuous loss position (in thousands): December 31, 2017 Less than 12 months 12 months or greater Fair Value Unrealized Loss Fair Value Unrealized Loss Corporate notes and obligations $ 18,873 $ (22 ) $ 3,998 $ (3 ) U.S. government treasury securities 24,415 (52 ) 31,466 (33 ) Total short-term available-for-sale debt securities $ 43,288 $ (74 ) $ 35,464 $ (36 ) The Company did not consider any of the unrealized losses on its investments to be other-than-temporarily impaired based on its evaluation of available evidence, which includes the Company’s intent as of December 31, 2017 to hold these investments until the cost basis is recovered. Realized gains and losses on sales of available-for-sale securities were immaterial for all periods presented. |
Property and Equipment
Property and Equipment | 12 Months Ended |
Dec. 31, 2017 | |
Property Plant And Equipment [Abstract] | |
Property and Equipment | Note 4. Property and Equipment A summary of property and equipment is as follows (in thousands): December 31, 2017 2016 Computer and office equipment $ 16,763 $ 15,740 Software 4,710 3,631 Furniture 1,534 1,561 Leasehold improvements 9,354 8,986 32,361 29,918 Less: Accumulated depreciation and amortization (21,924 ) (17,091 ) Property and equipment, net $ 10,437 $ 12,827 Depreciation million, and for the years ended December 31, 2017, 2016 and 2015 |
Warrants
Warrants | 12 Months Ended |
Dec. 31, 2017 | |
Warrants [Abstract] | |
Warrants | Note 5. Warrants Common Stock Warrants In connection with entering into and amending the senior credit facility, see Note 12, the Company issued warrants to purchase an aggregate of 21,208 shares of Class B common stock at an exercise price of $14.31 per share. On September 26, 2016, one of the warrant holders exercised warrants to purchase 10,604 shares of Class B common stock. The remaining warrants to purchase 10,604 shares of Class B common stock were outstanding as of December 31, 2017. Convertible Preferred Stock Warrant The Company previously issued a warrant to purchase 27,321 shares of Series A convertible preferred stock in conjunction with a loan and security agreement with Silicon Valley Bank, or SVB, at an exercise price of $1.37255 per share. Immediately prior to the completion of the IPO, this warrant was converted to a warrant to purchase 27,321 shares of Class B common stock. On September 26, 2016, the warrant holder exercised the warrant and the Company issued 25,658 shares of Class B common stock through a cashless exercise of the warrant, in accordance with its terms. |
Stockholders' Equity
Stockholders' Equity | 12 Months Ended |
Dec. 31, 2017 | |
Stockholders Equity Note [Abstract] | |
Stockholders' Equity | Note 6. Stockholders’ Equity Preferred Stock As of December 31, 2017, the Company had authorized 5,000,000 shares of preferred stock, par value $0.0001, of which no shares were issued and outstanding. Common Stock As of December 31, 2017 the Company had authorized 451,000,000 shares of Class A common stock and 44,000,000 shares of Class B common stock, each par value $0.0001 per share, of which 27,402,965 shares and 14,709,981 shares of Class A and Class B common stock, respectively, were issued and outstanding. Holders of Class A and Class B common stock are entitled to one vote per share and ten votes per share, respectively. Each share of Class B common stock is convertible at any time at the option of the holder into one share of Class A common stock. In addition, each share of Class B common stock will convert automatically into one share of Class A common stock upon transfer, subject to certain exceptions, and upon the earlier of (1) the seventh anniversary of the closing of the IPO, and (2) the date on which the Class B common stock ceases to represent at least 25% of the outstanding common stock. The shares of Class A common stock and Class B common stock are identical, except for voting and conversion rights. During the year ended December 31, 2017, 16,782,886 shares of Class B common stock were converted into 16,782,886 shares of Class A common stock at the request of the holders thereof. |
Equity Incentive Plans
Equity Incentive Plans | 12 Months Ended |
Dec. 31, 2017 | |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | |
Equity Incentive Plans | Note 7. Equity Incentive Plans 2016 Equity Incentive Plan The Company’s 2016 Equity Incentive Plan, or the 2016 Plan, became effective on September 21, 2016. The 2016 Plan provides for the grant of incentive stock options, or ISOs, within the meaning of Section 422 of the Internal Revenue Code, to the Company’s employees or any of the Company’s subsidiaries’ employees, and for the grant of nonstatutory stock options, or NSOs, restricted stock, restricted stock units, or RSUs, stock appreciation rights, performance units and performance shares to employees, directors and consultants of the Company and the Company’s subsidiaries’ employees and consultants. As of December 31, 2017, the total number of shares available for issuance under the 2016 Plan was 4,237,746. These available shares will automatically increase each January 1, by the least of 5,500,000 shares of Class A common stock, by 5% of the outstanding shares of all classes of the Company’s common stock as of the last day of the Company’s immediately preceding fiscal year, and such other amount as the Company’s board of directors may determine on or before the last day of the Company’s immediately preceding fiscal year. Pursuant to the above, on January 1, 2018, the number of available shares automatically increased by 2,105,647. 2007 Stock Plan The Company granted options under its 2007 stock plan, as amended, or the 2007 Plan, until September 23, 2016, when the plan was terminated in connection with the Company’s IPO. Accordingly, no shares are available for future issuance under this plan. The 2007 Plan continues to govern outstanding equity awards granted thereunder. 2011 Executive Equity Incentive Plan The Company granted options under its 2011 executive equity incentive plan as amended, or the 2011 Plan, until September 23, 2016, when the plan was terminated in connection with the Company’s IPO. Accordingly, no shares are available for future issuance under this plan. The 2011 Plan continues to govern outstanding equity awards granted thereunder. 2016 Employee Stock Purchase Plan The Company’s Employee Stock Purchase Plan, or 2016 ESPP, became effective on September 21, 2016. As of December 31, 2017, the total number of shares of Class A common stock available for issuance under the 2016 ESPP was 821,635 These available shares will automatically increase each January 1, by the least of 1,600,000 shares of Class A common stock, 1% of the number of shares of all classes of the Company’s common stock outstanding on the immediately preceding fiscal year, and such lesser number of shares as determined by the Company’s board of directors. Pursuant to the above, on January 1, 2018, the number of available shares automatically increased by 421,129. The 2016 ESPP allows eligible employees to purchase shares of the Company’s Class A common stock at a discount through payroll deductions of their eligible compensation, subject to any plan limitations. Except for the initial offering period, the 2016 ESPP provides for separate six-month offering periods beginning November 30 and May 31 of each fiscal year. The initial offering period ran from September 23, 2016 through May 31, 2017. The initial offering period included the employee enrollment period, which ran from September 23, 2016 to November 10, 2016, at which time employee deductions commenced. On each purchase date, eligible employees will purchase the Company’s Class A common stock at a price per share equal to 85% of the lesser of (1) the fair market value of the Company’s Class A common stock on the first trading day of the offering period, and/or (2) the fair market value of the Company’s common stock on the purchase date. Stock Options Stock options are exercisable at a price equal to the market value of the underlying shares of the Company’s common stock on the date of the grant as determined by the Company’s board of directors or, for those stock options issued subsequent to the IPO, the closing price of the Company’s common stock as reported on the Nasdaq Global Market on the date of grant. Stock options granted under the 2016 Plan, 2011 Plan and the 2007 Plan generally vest 25% one year from the date the requisite service period begins and continue to vest monthly for each month of continued employment over the remaining three years. Options granted generally are exercisable for a period of up to 10 years. Stock option activity under the 2016 Plan, 2011 Plan and the 2007 Plan during the year ended December 31, 2017 was as follows (in thousands, except per share and contractual life data): Weighted- Weighted- Average Average Remaining Total Options Exercise Price Contractual Intrinsic Outstanding per Share Life (years) Value Outstanding at December 31, 2016 11,203 $ 9.49 Options granted 451 16.97 Options exercised (3,339 ) 6.56 Options forfeited or canceled (825 ) 13.84 Outstanding at December 31, 2017 7,490 $ 10.76 6.41 $ 95,553 Vested and expected to vest at December 31, 2017 7,410 $ 10.71 6.39 $ 94,925 Exercisable at December 31, 2017 4,935 $ 8.74 5.53 $ 72,930 The weighted-average n n The total intrinsic value n n 2017, n and n The fair value of stock options granted was estimated on the date of grant using the Black-Scholes option pricing model with the following assumptions: Years Ended December 31, 2017 2016 2015 Dividend yield 0.0% 0.0% 0.0% Risk-free interest rate 1.8% - 2.1% 1.1% - 2.1% 1.3% - 2.0% Expected life 4.1 - 5.6 5.6 - 7.9 5.0 - 6.1 Expected volatility 33.3% - 35.4% 37.4% - 42.4% 38.9% - 47.0% The weighted-average and The Company has not declared As of December 31, 2017, there was a total of $14.9 million of unrecognized compensation cost related to unvested stock-based compensation associated with options granted under the 2007, 2011 and 2016 Plans. That cost is expected to be recognized over a weighted-average remaining expected term of 2.3 years RSUs RSU activity under the 2016 Plan during the year ended December 31, 2017 was as follows (in thousands, except per share data): Weighted-Average RSUs Grant Date Fair Value Outstanding per Share Non-Vested outstanding at December 31, 2016 628 $ 16.43 Granted 1,741 15.97 Vested (128 ) 16.46 Forfeited or canceled (211 ) 15.27 Non-Vested outstanding at December 31, 2017 2,030 $ 16.15 RSUs granted under the 2016 Plan generally vest 25% one year from the date the requisite service period begins and continue to vest quarterly for each quarter of continued employment over the remaining three years. The aggregate grant date fair value of RSUs granted in 2017 and 2016 was $27.8 million and $10.4 million, respectively. We recognized $5.3 million of stock-based compensation associated with RSUs during the year ended December 31, 2017. As of December 31, 2017, total unrecognized compensation cost, adjusted for estimated forfeitures, related to unvested RSUs was approximately $28.8 million and weighted-average remaining vesting period was 3.3 years. ESPP There were 311,742 shares of Class A common stock issued under the 2016 ESPP. For the years ended December 31, 2017 and 2016, the fair value of common shares to be issued under the 2016 ESPP was estimated using the Black-Scholes option pricing model with the following assumptions: Years Ended December 31, 2017 2016 Dividend yield 0.0% 0.0% Risk-free interest rate 1.07% - 1.45% 0.6% Expected life 0.50 0.56 Expected volatility 27.0% - 44.3% 33.9% Stock-based compensation expense recognized in the Company’s statement of comprehensive loss was as follows (in thousands): Years Ended December 31, 2017 2016 2015 Cost of revenue Subscription $ 1,218 $ 891 $ 482 Professional services 1,131 820 738 Operating expenses Research and development 4,491 2,977 2,283 Sales and marketing 4,614 3,132 2,477 General and administrative 4,616 2,639 1,835 Total stock-based compensation $ 16,070 $ 10,459 $ 7,815 |
Net Loss Per Share Attributable
Net Loss Per Share Attributable to Common Stockholders | 12 Months Ended |
Dec. 31, 2017 | |
Earnings Per Share [Abstract] | |
Net Loss Per Share Attributable to Common Stockholders | Note 8. Net Loss Per Share Attributable to Common Stockholders The Company calculates basic and diluted net loss per share attributable to common stockholders in conformity with the two-class method required for companies with participating securities. The Company considers all series of convertible preferred stock to be participating securities. Under the two-class method, the net loss attributable to common stockholders is not allocated to the convertible preferred stock as the holders of convertible preferred stock do not have a contractual obligation to share in losses. The diluted net loss per share attributable to common stockholders is computed by giving effect to all potential dilutive common stock equivalents outstanding for the period. For purposes of this calculation, convertible preferred stock, options to purchase common stock and warrants to purchase common stock and convertible preferred stock are considered common stock equivalents, but have been excluded from the calculation of diluted net loss per share attributable to common stockholders as their effect is antidilutive. Basic and diluted net loss per share was the same for each period presented, as the inclusion of all potential common shares outstanding would have been antidilutive. The following table sets forth the computation of basic and diluted net loss per share (in thousands, except per share data): Years Ended December 31, 2017 2016 2015 Numerator: Net loss attributable to common stockholders $ (25,621 ) $ (31,553 ) $ (41,007 ) Denominator: Weighted-average common shares outstanding - basic and diluted 39,754 19,595 12,653 Net loss per common share - basic and diluted $ (0.64 ) $ (1.61 ) $ (3.24 ) The following weighted-average outstanding shares of common stock equivalents were excluded from the computation of diluted net loss per share attributable to common stockholders for the periods presented because the impact of including them would have been antidilutive (in thousands): Years Ended December 31, 2017 2016 2015 Options to purchase common shares 9,611 10,969 9,294 Restricted stock units 1,415 41 — Employee stock purchase plan shares 191 29 — Common stock warrant 11 36 6 Convertible preferred shares (as converted) — 13,505 18,240 Preferred stock warrant (as converted) — 20 27 11,228 24,600 27,567 |
Income Taxes
Income Taxes | 12 Months Ended |
Dec. 31, 2017 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | Note 9. Income Taxes On December 22, 2017, the Tax Cuts and Jobs Act of 2017, or the Tax Act, was signed into law making significant changes to the Internal Revenue Code. Changes include, but are not limited to, a federal corporate tax rate decrease from 35% to 21% for tax years beginning after December 31, 2017, the transition of U.S international taxation from a worldwide tax system to a territorial system, and a one-time transition tax on the mandatory deemed repatriation of foreign earnings. The Company has estimated the provision for income taxes in accordance with the Tax Act and guidance available as of the date of this filing, and as a result recorded a reduction of $30.0 million in its deferred tax assets, which is entirely offset by its valuation allowance resulting in zero total tax expense in the period in which the legislation was enacted. The provisional amount related to the re-measurement of certain deferred tax assets and liabilities, based on the rates at which they are expected to reverse in the future, was $30.0 million. The provisional amount related to the one-time transition tax on the mandatory deemed repatriation of foreign earnings was $0.7 million based on cumulative foreign earnings of $5.5 million. On December 22, 2017, Staff Accounting Bulletin No. 118, or SAB 118, was issued to address the application of GAAP in situations when a registrant does not have the necessary information available, prepared, or analyzed (including computations) in reasonable detail to complete the accounting for certain income tax effects of the Tax Act. Additional work is necessary for a more detailed analysis of the deferred tax assets and liabilities and the Company’s historical foreign earnings as well as potential correlative adjustments. Any subsequent adjustment to these amounts will be recorded to current tax expense in the quarter of 2018 when the analysis is complete. The components of loss before provision for income taxes were as follows (in thousands): Years Ended December 31, 2017 2016 2015 United States $ (33,268 ) $ (26,161 ) $ (40,805 ) Foreign 8,208 (4,940 ) (93 ) Total $ (25,060 ) $ (31,101 ) $ (40,898 ) The components of the provision for income taxes were as follows (in thousands): Years Ended December 31, 2017 2016 2015 Current: Federal $ — $ — $ — State 2 7 21 Foreign 559 445 88 Total 561 452 109 Deferred: Federal — — — State — — — Foreign — — — Total — — — Provision for income taxes $ 561 $ 452 $ 109 The items accounting for the difference between income taxes computed at the federal statutory income tax rate of 34% and the provision for income taxes consisted of the following (in thousands): Years Ended December 31, 2017 2016 2015 Income tax benefit at statutory rate $ (8,520 ) $ (10,574 ) $ (13,832 ) Statutory rate change 30,019 — — State taxes, net of federal benefit (2,612 ) (213 ) 14 Impact of foreign income taxes (2,233 ) 2,124 119 Stock-based compensation (7,542 ) 2,340 1,629 Foreign exchange loss (gain) 1,990 (1,920 ) — Change in valuation allowance (8,782 ) 9,510 12,673 Impact of ASU 2016-09 (1,809 ) — — Transition tax 695 — — Research and development credits (833 ) (764 ) (674 ) Other 188 (51 ) 180 $ 561 $ 452 $ 109 The reconciliation of the statutory rate of 34% and the Company’s effective rate of -2.24% is driven primarily by effects of the Tax Act, increased tax deductions related to stock compensation, and change in the relative amounts of income earned in foreign jurisdictions . At December 31, 2017, n The Company’s December 31, Deferred tax assets (liabilities) 2017 2016 Deferred tax assets: Net operating loss carryforwards $ 49,996 $ 58,457 Deferred revenue 604 372 Tax credits 3,662 2,829 Accrued payroll 646 935 Accrued expenses not currently deductible 1,239 2,121 Non-qualified stock options 2,689 3,164 Depreciation and amortization 350 128 Other 84 46 Gross deferred assets 59,270 68,052 Valuation allowance (59,270 ) (68,052 ) Total deferred tax assets, net of valuation allowance — — Deferred tax liabilities: Depreciation and amortization — — Unrealized foreign currency gain/loss — — Total deferred tax liabilities — — Net deferred assets $ — $ — The Company has established The net change December 31, 2017 2016 2015 Balance at beginning of period $ (68,052 ) $ (58,542 ) $ (45,011 ) Tax valuation increase (1,324 ) (9,779 ) (14,375 ) Tax valuation decrease 10,106 269 844 Balance at end of period $ (59,270 ) $ (68,052 ) $ (58,542 ) The calculation Income Taxe s Although The total balance Years Ended December 31, 2017 2016 2015 Unrecognized tax benefits at beginning of year $ 2,829 $ 2,065 $ 1,391 Additions for tax positions in prior years — — — Additions for tax positions in the current year 833 764 674 Unrecognized tax benefits at end of year $ 3,662 $ 2,829 $ 2,065 The Company files income tax s France, , |
Segments
Segments | 12 Months Ended |
Dec. 31, 2017 | |
Segment Reporting [Abstract] | |
Segments | Note 10. Segments The Company operates its business as one operating segment. Its chief operating decision makers, or CODMs, are its Chief Executive Officer and Chief Financial Officer. The CODMs review separate revenue information for the Company’s subscription and professional services revenue, and all other financial information presented on a consolidated basis, for purposes of making operating decisions, assessing financial performance and allocating resources. Revenue The following table sets forth the Company’s total revenue by geographic area for the years ended December 31, 2017, 2016 and 2015 as determined based on the billing address of the customer (in thousands): Years Ended December 31, 2017 2016 2015 Americas $ 135,289 $ 120,306 $ 101,192 EMEA 43,661 33,800 22,296 APAC 9,569 6,463 5,763 $ 188,519 $ 160,569 $ 129,251 Revenue attributed to the United States was approximately 99% of Americas revenue for the years ended December 31, 2017, 2016 and 2015, respectively. Long-lived Assets The following table sets forth the Company’s long-lived assets, net of accumulated depreciation, by geographic areas as of December 31, 2017 and 2016 (in thousands): December 31, 2017 2016 Americas $ 8,502 $ 10,894 EMEA 1,648 1,523 APAC 287 410 $ 10,437 $ 12,827 |
Commitments and Contingencies
Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2017 | |
Commitments And Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | Note 11. Commitments and Contingencies Leases The Company has entered into non-cancellable operating leases, primarily related to rental of office space and certain office equipment. Certain lease agreements include rent payment escalation clauses and free rent (rent holidays). The total amount of base rentals over the term of the leases is charged to expense using the straight-line method with the amount of the rental expense in excess of lease payments recorded as a deferred rent liability. Total rent expense for operating leases was $4.1 million, $3.8 million and $3.5 million for the years ended December 31, 2017, 2016 and 2015, respectively. The Company also finances the purchase of certain office equipment under capital lease arrangements. Other Commitments The Company has entered into certain other non-cancellable agreements for software and marketing services that specify all significant terms, including fixed or minimum services to be used, pricing provisions and the approximate timing of the transaction. Obligations under contracts that are cancellable or with remaining terms of 12 months or less are not included. Future minimum payments under non-cancellable operating and capital lease agreements and other non-cancellable agreements as of December 31, 2017 were as follows (in thousands): Years Ending December 31, Operating Leases Capital Leases Other Obligations 2018 $ 4,439 $ 22 $ 1,107 2019 4,227 20 827 2020 3,493 7 349 2021 3,564 — — 2022 3,662 — — Thereafter 307 — — Total Minimum Lease Payments $ 19,692 $ 49 $ 2,283 Less amounts representing interest (2 ) Present value of capital lease obligations 47 Less: Current portion (21 ) Long-term portion of capital lease obligations $ 26 Legal Matters From time to time, the Company has become involved in claims and other legal matters arising in the ordinary course of business. The Company investigates these claims as they arise. Although claims are inherently unpredictable, the Company is currently not aware of any matters that may have a material adverse effect on the Company’s business, financial position, results of operations or cash flows, individually or in the aggregate. The Company accrues estimates for resolution of legal and other contingencies when losses are probable and estimable. As of December 31, 2017, the Company does not believe that any material losses relating to claims were probable and estimable, and therefore has not recorded a reserve for any material contingencies. |
Credit Facilities
Credit Facilities | 12 Months Ended |
Dec. 31, 2017 | |
Debt Disclosure [Abstract] | |
Credit Facilities | Note 12. Credit Facilities On April 20, 2016, the Company amended a revolving credit agreement, or the senior credit facility, with Silicon Valley Bank. The Company was able to incur revolver borrowings on a borrowing base tied to the amount of eligible accounts receivable, not to exceed $15.0 million, under the senior credit facility. The revolver matured and expired on June 16, 2017 with no amounts outstanding. The senior credit facility was not renewed and, therefore, the Company has no active credit facilities. |
Subsequent Events
Subsequent Events | 12 Months Ended |
Dec. 31, 2017 | |
Subsequent Events [Abstract] | |
Subsequent Events | Note 13. Subsequent Events On February 2, 2018, the Company acquired all outstanding membership interests of Digital Fuel SV, LLC, or Digital Fuel. The Company acquired Digital Fuel to extend its leadership of the Technology Business Market and broaden the Company’s customer base. The Company’s accounting and analysis of this transaction is pending completion. The total estimated consideration for Digital Fuel was $42.5 million, comprised of $38.3 million in cash, subject to certain post-closing adjustments provided for in the Purchase Agreement, and 176,406 shares of Apptio’s Class A common stock. |
Quarterly Financial Information
Quarterly Financial Information (Unaudited) | 12 Months Ended |
Dec. 31, 2017 | |
Quarterly Financial Information Disclosure [Abstract] | |
Quarterly Financial Information (Unaudited) | Note 14. Quarterly Financial Information (Unaudited) The following table contains selected unaudited financial data for each quarter of 2017 2016. Three Months Ended Dec 31, 2017 Sept 30, 2017 June 30, 2017 March 31, 2017 Dec 31, 2016 Sept 30, 2016 June 30, 2016 March 31, 2016 Total revenue $ 52,367 $ 46,996 $ 45,225 $ 43,931 $ 44,320 $ 40,627 $ 38,779 $ 36,843 Gross profit $ 37,682 $ 33,066 $ 30,706 $ 28,512 $ 29,900 $ 26,638 $ 25,624 $ 24,247 Net loss $ (6,890 ) $ (5,171 ) $ (7,013 ) $ (6,547 ) $ (7,917 ) $ (8,755 ) $ (8,985 ) $ (5,896 ) Net loss per share attributable to common stockholders, basic and diluted $ (0.17 ) $ (0.13 ) $ (0.18 ) $ (0.17 ) $ (0.21 ) $ (0.63 ) $ (0.69 ) $ (0.45 ) |
Description of Operations and22
Description of Operations and Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2017 | |
Description Of Operations And Summary Of Significant Accounting Policies [Abstract] | |
Deferred Offering Costs | Deferred Offering Costs Deferred offering costs of $3.7 million, consisting of legal, accounting and other costs related to the IPO, were reclassified to additional paid-in capital as a reduction of the proceeds upon the closing of our IPO on September 28, 2016. |
Principles of Consolidation | Principles of Consolidation The consolidated financial statements include the Company and its wholly-owned subsidiaries. All significant intercompany balances and transactions have been eliminated. |
Accounting Principles | Accounting Principles The consolidated financial statements and accompanying notes were prepared in accordance with accounting principles generally accepted in the United States of America, or GAAP. |
Use of Estimates | Use of Estimates The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ materially from those estimates. |
Certain Significant Risks and Uncertainties | Certain Significant Risks and Uncertainties The Company continues to be subject to the risks and challenges associated with other companies at a similar stage of development, including risks associated with: dependence on key personnel; successful marketing and sale of its solutions and adaptation of such solutions to changing market dynamics and customer preferences; competition from alternative products and services, including from larger companies that have greater name recognition, longer operating histories, more and better established customer relationships and greater resources than the Company; and the ability to raise additional capital to support future growth. Since inception through December 31, 2017, the Company has incurred losses from operations, and accumulated a deficit of $225.9 million, and has been dependent on equity and debt financing to fund operations. |
Operating Segments | Operating The Company follows The Company operates its business |
Foreign Currency | Foreign Currency The functional |
Comprehensive Loss | Comprehensive Certain gains |
Cash and Cash Equivalents | Cash The Company considers all |
Investments | Investments The Company classifies equity ( |
Fair Value of Financial Instruments | Fair At December 31, 2017 and 2016 the Company has the following The fair Fair value Level 1 Level 2 . Level 3 The lowest level |
Allowance for Doubtful Accounts | Allowance for The Company performs If Activity within December 31, 2017 2016 2015 Balance at beginning of period $ 122 $ 289 $ 450 Charges, net of reversals 291 (93 ) (3 ) Write-offs — (74 ) (158 ) Balance at end of period $ 413 $ 122 $ 289 |
Concentration of Credit Risk | Concentration of Financial |
Advertising | Advertising Advertising for the years ended December 31, 2017, 2016 and 2015 , |
Interest Expense | Interest Interest . In 2016 and 2015, interest expense consists of interest on capital leases y |
Property and Equipment | Property and Equipment Property Computer and office equipment 2-3 years Software 1-3 years Furniture 3 years Leasehold In . |
Preferred Stock Warrant Liability | Preferred Stock Warrant The Company classified Immediately prior to the completion of the IPO, the warrant to purchase shares of convertible preferred stock was converted to a warrant to purchase shares of Class B common stock and was no longer classified as a liability on the Company’s consolidated balance sheets. On September 26, 2016, the warrant holder exercised the warrant and the Company issued shares of Class B common stock through a cashless exercise of the warrant, in accordance with its terms. See Note 5 for additional information. |
Revenue Recognition | Revenue The Company derives its revenue from The Company recognizes The Company enters When The The Company estimates The Company recognizes Professional - If Fees for On Deferred revenue represents |
Research and Development | Research Research and development |
Capitalized Software Costs | Capitalized For development 2015, |
Cost Allocation | Cost Allocation The Company allocates |
Sales Commissions | Sales Commissions The Company pays sales commissions to |
Income Taxes | Income Taxes The Company follows The Company recognizes The Company’s |
Stock-Based Compensation | Stock-Based The Company recognizes The Company’s e |
Recently Adopted Accounting Pronouncements | Recently Adopted Accounting Pronouncements In May 2017, the Financial Accounting Standards Board, or FASB, issued Accounting Standards Update, or ASU, 2017-09 Compensation-Stock Compensation (Topic 718) Scope of Modification Accounting. The adoption of this standard did not have a material impact on the Company’s financial statements. In March 2016, the FASB issued ASU 2016-09, Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting, adopted this new standard as of January 1, 2017. As of December 31, 2016, the Company has accumulated excess tax benefits from temporary differences resulting from the amount and timing of stock-based compensation expense recorded in our financial statements compared to deductions on its income tax return from the award compensation that reduces the net operating loss deferred tax asset. The Company provided a full valuation allowance against its net deferred tax assets since it has been determined that it is more likely than not that all of the deferred tax assets will not be realized. Upon adoption of this standard, the stock-based compensation excess tax benefit was eliminated, resulting in an increase to the net operating loss deferred tax asset, with a corresponding increase in the valuation allowance. The Company elected to continue to estimate the number of share-based awards expected to vest, rather than electing to account for forfeitures as they occur to determine the amount of stock-based compensation expense to be recognized each period. The adoption of this standard did not have a material impact on the Company’s financial statements. |
New Accounting Pronouncements Not Yet Adopted | New Accounting Pronouncements Not Yet Adopted In October 2016, the FASB issued ASU 2016-16 , Inter-Entity Transfers of Assets other than Inventory In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606), and the guidance must be applied retrospectively to each prior period presented or retrospectively with the cumulative effect recognized as of the date of adoption. The Company is in process of finalizing its assessment of the new standard, including ascribing the appropriate amortization period to the respective commission costs. The Company adopted the requirements of the new standard on January 1, 2018 and will utilize the full retrospective transition method. The impact of adopting this standard on 2017 and 2016 subscription and services revenue is not material. The primary impact of the standard will be the requirement to capitalize certain contract costs, such as commissions, which are currently being expensed as incurred. Because these costs will now be capitalized and amortized over the period benefited by the transaction, the Company expects that adoption of this standard will result in marginally lower sales and marketing expense in scenarios where current period sales results are higher than the prior period sales results. In scenarios where current period sales results are lower than the prior period sales results, the Company expects sales and marketing expenses will be marginally higher than if the Company had expensed these selling costs as incurred. Under the new standard, the Company will defer commission costs to obtain customer subscription contracts and will amortize these costs over a period of benefit that we have determined to be four years for new subscription agreements, and over the term of the respective subscription for renewals of subscription agreements. Commissions on service arrangements will continue to be expensed as incurred as the term for these arrangements is typically less than 12 months. The Company expects this to materially reduce annual sales and marketing expenses. |
Description of Operations and23
Description of Operations and Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Description Of Operations And Summary Of Significant Accounting Policies [Abstract] | |
Summary of Activity within Allowance for Doubtful Accounts | Activity within December 31, 2017 2016 2015 Balance at beginning of period $ 122 $ 289 $ 450 Charges, net of reversals 291 (93 ) (3 ) Write-offs — (74 ) (158 ) Balance at end of period $ 413 $ 122 $ 289 |
Property and Equipment Estimated Useful Lives | Property Computer and office equipment 2-3 years Software 1-3 years Furniture 3 years |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Fair Value Disclosures [Abstract] | |
Schedule of Financial Assets and Liabilities Measured at Fair Value | The following tables present information about the Company’s financial assets and liabilities that have been measured at fair value as of December 31, 2017 and 2016, and indicates the fair value hierarchy of the valuation inputs utilized to determine such fair value (in thousands): December 31, 2017 Level 1 Level 2 Total Money market funds $ 24,225 $ — $ 24,225 Corporate notes and obligations — 38,020 38,020 U.S. government treasury securities 55,881 — 55,881 $ 80,106 $ 38,020 $ 118,126 December 31, 2016 Level 1 Level 2 Total Money market funds $ 18,029 $ — $ 18,029 Corporate notes and obligations — 33,840 33,840 U.S. government treasury securities 41,347 — 41,347 $ 59,376 $ 33,840 $ 93,216 |
Investments (Tables)
Investments (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Available For Sale Securities [Abstract] | |
Amortized Cost and Fair Value on Available-for-Sale Investments and Unrealized Gains and Losses | The amortized cost and fair value on the available-for-sale investments and unrealized gains and losses as of December 31, 2017 and 2016 were as follows (in thousands): December 31, 2017 Amortized Gross Unrealized Gross Unrealized Fair Cost Gains Losses Value Amounts maturing in one year or less Corporate notes and obligations $ 38,044 $ — $ (24 ) $ 38,020 U.S. government treasury securities 55,967 — (86 ) 55,881 Total short-term available-for-sale debt securities $ 94,011 $ — $ (110 ) $ 93,901 December 31, 2016 Amortized Gross Unrealized Gross Unrealized Fair Cost Gains Losses Value Amounts maturing in one year or less Corporate notes and obligations $ 29,866 $ — $ (25 ) $ 29,841 U.S. government treasury securities 6,900 — — 6,900 Total short-term available-for-sale debt securities $ 36,766 $ — $ (25 ) $ 36,741 Amounts maturing in greater than one year Corporate notes and obligations $ 4,010 $ — $ (11 ) $ 3,999 U.S. government treasury securities 34,505 — (58 ) 34,447 Total long-term available-for-sale debt securities $ 38,515 $ — $ (69 ) $ 38,446 |
Gross Unrealized Losses and Fair Value for Investments in Unrealized Loss Position | The following table presents gross unrealized losses and fair values for those investments that were in an unrealized loss position as of December 31, 2017, aggregated by investment category and the length of time that individual securities have been in a continuous loss position (in thousands): December 31, 2017 Less than 12 months 12 months or greater Fair Value Unrealized Loss Fair Value Unrealized Loss Corporate notes and obligations $ 18,873 $ (22 ) $ 3,998 $ (3 ) U.S. government treasury securities 24,415 (52 ) 31,466 (33 ) Total short-term available-for-sale debt securities $ 43,288 $ (74 ) $ 35,464 $ (36 ) |
Property and Equipment (Tables)
Property and Equipment (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Property Plant And Equipment [Abstract] | |
Summary of Property and Equipment | A summary of property and equipment is as follows (in thousands): December 31, 2017 2016 Computer and office equipment $ 16,763 $ 15,740 Software 4,710 3,631 Furniture 1,534 1,561 Leasehold improvements 9,354 8,986 32,361 29,918 Less: Accumulated depreciation and amortization (21,924 ) (17,091 ) Property and equipment, net $ 10,437 $ 12,827 |
Equity Incentive Plans (Tables)
Equity Incentive Plans (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | |
Summary of Stock Option Activity Under 2007 Plan, 2011 Plan and 2016 Plan | Stock option activity under the 2016 Plan, 2011 Plan and the 2007 Plan during the year ended December 31, 2017 was as follows (in thousands, except per share and contractual life data): Weighted- Weighted- Average Average Remaining Total Options Exercise Price Contractual Intrinsic Outstanding per Share Life (years) Value Outstanding at December 31, 2016 11,203 $ 9.49 Options granted 451 16.97 Options exercised (3,339 ) 6.56 Options forfeited or canceled (825 ) 13.84 Outstanding at December 31, 2017 7,490 $ 10.76 6.41 $ 95,553 Vested and expected to vest at December 31, 2017 7,410 $ 10.71 6.39 $ 94,925 Exercisable at December 31, 2017 4,935 $ 8.74 5.53 $ 72,930 |
Schedule of Fair Value of Stock Option Granted Estimated the Date of Granting Using Black-Scholes Option Pricing Model | The fair value of stock options granted was estimated on the date of grant using the Black-Scholes option pricing model with the following assumptions: Years Ended December 31, 2017 2016 2015 Dividend yield 0.0% 0.0% 0.0% Risk-free interest rate 1.8% - 2.1% 1.1% - 2.1% 1.3% - 2.0% Expected life 4.1 - 5.6 5.6 - 7.9 5.0 - 6.1 Expected volatility 33.3% - 35.4% 37.4% - 42.4% 38.9% - 47.0% |
Summary of RSU Activity Under 2016 Plan | RSU activity under the 2016 Plan during the year ended December 31, 2017 was as follows (in thousands, except per share data): Weighted-Average RSUs Grant Date Fair Value Outstanding per Share Non-Vested outstanding at December 31, 2016 628 $ 16.43 Granted 1,741 15.97 Vested (128 ) 16.46 Forfeited or canceled (211 ) 15.27 Non-Vested outstanding at December 31, 2017 2,030 $ 16.15 |
Schedule of Fair Value of Common Shares to be Issued Under the 2016 ESPP | There were 311,742 shares of Class A common stock issued under the 2016 ESPP. For the years ended December 31, 2017 and 2016, the fair value of common shares to be issued under the 2016 ESPP was estimated using the Black-Scholes option pricing model with the following assumptions: Years Ended December 31, 2017 2016 Dividend yield 0.0% 0.0% Risk-free interest rate 1.07% - 1.45% 0.6% Expected life 0.50 0.56 Expected volatility 27.0% - 44.3% 33.9% |
Summary of Stock Based Compensation Expenses | Stock-based compensation expense recognized in the Company’s statement of comprehensive loss was as follows (in thousands): Years Ended December 31, 2017 2016 2015 Cost of revenue Subscription $ 1,218 $ 891 $ 482 Professional services 1,131 820 738 Operating expenses Research and development 4,491 2,977 2,283 Sales and marketing 4,614 3,132 2,477 General and administrative 4,616 2,639 1,835 Total stock-based compensation $ 16,070 $ 10,459 $ 7,815 |
Net Loss Per Share Attributab28
Net Loss Per Share Attributable to Common Stockholders (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Earnings Per Share [Abstract] | |
Computation of Basic and Diluted Net Loss Per Share | The following table sets forth the computation of basic and diluted net loss per share (in thousands, except per share data): Years Ended December 31, 2017 2016 2015 Numerator: Net loss attributable to common stockholders $ (25,621 ) $ (31,553 ) $ (41,007 ) Denominator: Weighted-average common shares outstanding - basic and diluted 39,754 19,595 12,653 Net loss per common share - basic and diluted $ (0.64 ) $ (1.61 ) $ (3.24 ) |
Schedule of Antidilutive Securities Excluded from Computation of Diluted Net Loss Per Share | The following weighted-average outstanding shares of common stock equivalents were excluded from the computation of diluted net loss per share attributable to common stockholders for the periods presented because the impact of including them would have been antidilutive (in thousands): Years Ended December 31, 2017 2016 2015 Options to purchase common shares 9,611 10,969 9,294 Restricted stock units 1,415 41 — Employee stock purchase plan shares 191 29 — Common stock warrant 11 36 6 Convertible preferred shares (as converted) — 13,505 18,240 Preferred stock warrant (as converted) — 20 27 11,228 24,600 27,567 |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Income Tax Disclosure [Abstract] | |
Schedule of Components of Loss Before Provision for Income Taxes | The components of loss before provision for income taxes were as follows (in thousands): Years Ended December 31, 2017 2016 2015 United States $ (33,268 ) $ (26,161 ) $ (40,805 ) Foreign 8,208 (4,940 ) (93 ) Total $ (25,060 ) $ (31,101 ) $ (40,898 ) |
Schedule of Components of Provision for Income Taxes | The components of the provision for income taxes were as follows (in thousands): Years Ended December 31, 2017 2016 2015 Current: Federal $ — $ — $ — State 2 7 21 Foreign 559 445 88 Total 561 452 109 Deferred: Federal — — — State — — — Foreign — — — Total — — — Provision for income taxes $ 561 $ 452 $ 109 |
Schedule of Income Taxes Computed at Federal Statutory and Provision Income Taxes | The items accounting for the difference between income taxes computed at the federal statutory income tax rate of 34% and the provision for income taxes consisted of the following (in thousands): Years Ended December 31, 2017 2016 2015 Income tax benefit at statutory rate $ (8,520 ) $ (10,574 ) $ (13,832 ) Statutory rate change 30,019 — — State taxes, net of federal benefit (2,612 ) (213 ) 14 Impact of foreign income taxes (2,233 ) 2,124 119 Stock-based compensation (7,542 ) 2,340 1,629 Foreign exchange loss (gain) 1,990 (1,920 ) — Change in valuation allowance (8,782 ) 9,510 12,673 Impact of ASU 2016-09 (1,809 ) — — Transition tax 695 — — Research and development credits (833 ) (764 ) (674 ) Other 188 (51 ) 180 $ 561 $ 452 $ 109 |
Schedule of Components of Net Deferred Tax Assets | The Company’s December 31, Deferred tax assets (liabilities) 2017 2016 Deferred tax assets: Net operating loss carryforwards $ 49,996 $ 58,457 Deferred revenue 604 372 Tax credits 3,662 2,829 Accrued payroll 646 935 Accrued expenses not currently deductible 1,239 2,121 Non-qualified stock options 2,689 3,164 Depreciation and amortization 350 128 Other 84 46 Gross deferred assets 59,270 68,052 Valuation allowance (59,270 ) (68,052 ) Total deferred tax assets, net of valuation allowance — — Deferred tax liabilities: Depreciation and amortization — — Unrealized foreign currency gain/loss — — Total deferred tax liabilities — — Net deferred assets $ — $ — |
Net Change in Total Valuation Allowance | The net change December 31, 2017 2016 2015 Balance at beginning of period $ (68,052 ) $ (58,542 ) $ (45,011 ) Tax valuation increase (1,324 ) (9,779 ) (14,375 ) Tax valuation decrease 10,106 269 844 Balance at end of period $ (59,270 ) $ (68,052 ) $ (58,542 ) |
Summary of Unrecognized Gross Tax Benefits | The total balance Years Ended December 31, 2017 2016 2015 Unrecognized tax benefits at beginning of year $ 2,829 $ 2,065 $ 1,391 Additions for tax positions in prior years — — — Additions for tax positions in the current year 833 764 674 Unrecognized tax benefits at end of year $ 3,662 $ 2,829 $ 2,065 |
Segments (Tables)
Segments (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Segment Reporting [Abstract] | |
Summary of Revenue by Geographic Areas | The following table sets forth the Company’s total revenue by geographic area for the years ended December 31, 2017, 2016 and 2015 as determined based on the billing address of the customer (in thousands): Years Ended December 31, 2017 2016 2015 Americas $ 135,289 $ 120,306 $ 101,192 EMEA 43,661 33,800 22,296 APAC 9,569 6,463 5,763 $ 188,519 $ 160,569 $ 129,251 |
Summary of Long-lived Assets, Net of Accumulated Depreciation, by Geographic Areas | The following table sets forth the Company’s long-lived assets, net of accumulated depreciation, by geographic areas as of December 31, 2017 and 2016 (in thousands): December 31, 2017 2016 Americas $ 8,502 $ 10,894 EMEA 1,648 1,523 APAC 287 410 $ 10,437 $ 12,827 |
Commitments and Contingencies (
Commitments and Contingencies (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Commitments And Contingencies Disclosure [Abstract] | |
Schedule of Future Minimum Payments under Non-Cancellable Operating and Capital Lease Agreements and Other Non-Cancellable Agreements | Future minimum payments under non-cancellable operating and capital lease agreements and other non-cancellable agreements as of December 31, 2017 were as follows (in thousands): Years Ending December 31, Operating Leases Capital Leases Other Obligations 2018 $ 4,439 $ 22 $ 1,107 2019 4,227 20 827 2020 3,493 7 349 2021 3,564 — — 2022 3,662 — — Thereafter 307 — — Total Minimum Lease Payments $ 19,692 $ 49 $ 2,283 Less amounts representing interest (2 ) Present value of capital lease obligations 47 Less: Current portion (21 ) Long-term portion of capital lease obligations $ 26 |
Quarterly Financial Informati32
Quarterly Financial Information (Unaudited) (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Quarterly Financial Information Disclosure [Abstract] | |
Summary of Selected Unaudited Financial Data | The following table contains selected unaudited financial data for each quarter of 2017 2016. Three Months Ended Dec 31, 2017 Sept 30, 2017 June 30, 2017 March 31, 2017 Dec 31, 2016 Sept 30, 2016 June 30, 2016 March 31, 2016 Total revenue $ 52,367 $ 46,996 $ 45,225 $ 43,931 $ 44,320 $ 40,627 $ 38,779 $ 36,843 Gross profit $ 37,682 $ 33,066 $ 30,706 $ 28,512 $ 29,900 $ 26,638 $ 25,624 $ 24,247 Net loss $ (6,890 ) $ (5,171 ) $ (7,013 ) $ (6,547 ) $ (7,917 ) $ (8,755 ) $ (8,985 ) $ (5,896 ) Net loss per share attributable to common stockholders, basic and diluted $ (0.17 ) $ (0.13 ) $ (0.18 ) $ (0.17 ) $ (0.21 ) $ (0.63 ) $ (0.69 ) $ (0.45 ) |
Description of Operations and33
Description of Operations and Summary of Significant Accounting Policies - Additional Information (Details) | Sep. 28, 2016USD ($) | Sep. 30, 2016USD ($)$ / sharesshares | Dec. 31, 2017USD ($)Segment | Dec. 31, 2016USD ($)shares | Dec. 31, 2015USD ($) |
Description Of Operations And Summary Of Significant Accounting Policies [Line Items] | |||||
Deferred offering costs | $ 3,698,000 | ||||
Accumulated deficit | $ (225,945,000) | (200,324,000) | |||
Number of operating segment | Segment | 1 | ||||
Advertising expenses | $ 7,700,000 | 7,400,000 | $ 7,500,000 | ||
Interest expense capitalized | 0 | 0 | 0 | ||
Software development costs capitalized | $ 700,000 | $ 1,100,000 | $ 800,000 | ||
Common Class B Converted From Common | |||||
Description Of Operations And Summary Of Significant Accounting Policies [Line Items] | |||||
Conversion ratio | 100.00% | ||||
Common Class B Converted From Common Stock Warrants | |||||
Description Of Operations And Summary Of Significant Accounting Policies [Line Items] | |||||
Conversion ratio | 100.00% | ||||
Warrants outstanding | shares | 47,893 | ||||
Common Class B Converted From Convertible Preferred Stock Warrant | |||||
Description Of Operations And Summary Of Significant Accounting Policies [Line Items] | |||||
Conversion ratio | 100.00% | ||||
Warrants outstanding | shares | 27,321 | ||||
Convertible Preferred Stock | |||||
Description Of Operations And Summary Of Significant Accounting Policies [Line Items] | |||||
Conversion of preferred stock to Class B common stock, Shares | shares | 18,239,475 | (18,240,000) | |||
IPO | |||||
Description Of Operations And Summary Of Significant Accounting Policies [Line Items] | |||||
Deferred offering costs | $ 3,700,000 | ||||
IPO | Class A Common Stock | |||||
Description Of Operations And Summary Of Significant Accounting Policies [Line Items] | |||||
Shares sold (in shares) | shares | 6,900,000 | ||||
Share price (in dollars per share) | $ / shares | $ 16 | ||||
Net proceeds after deducting underwriting discounts and commissions and offering expenses | $ 99,000,000 |
Description of Operations and34
Description of Operations and Summary of Significant Accounting Policies - Summary of Activity within Allowance for Doubtful Accounts (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Receivables [Abstract] | |||
Balance at beginning of period | $ 122 | $ 289 | $ 450 |
Charges, net of reversals | 291 | (93) | (3) |
Write-offs | (74) | (158) | |
Balance at end of period | $ 413 | $ 122 | $ 289 |
Description of Operations and35
Description of Operations and Summary of Significant Accounting Policies - Property and Equipment Estimated Useful Lives (Details) | 12 Months Ended |
Dec. 31, 2017 | |
Furniture | |
Property Plant And Equipment [Line Items] | |
Property and equipment estimated useful lives | 3 years |
Minimum | Computer and Office Equipment | |
Property Plant And Equipment [Line Items] | |
Property and equipment estimated useful lives | 2 years |
Minimum | Software | |
Property Plant And Equipment [Line Items] | |
Property and equipment estimated useful lives | 1 year |
Maximum | Computer and Office Equipment | |
Property Plant And Equipment [Line Items] | |
Property and equipment estimated useful lives | 3 years |
Maximum | Software | |
Property Plant And Equipment [Line Items] | |
Property and equipment estimated useful lives | 3 years |
Fair Value Measurements - Sched
Fair Value Measurements - Schedule of Financial Assets and Liabilities Measured at Fair Value (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Fair value, net asset (liability) | $ 118,126 | $ 93,216 |
Level 1 | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Fair value, net asset (liability) | 80,106 | 59,376 |
Level 2 | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Fair value, net asset (liability) | 38,020 | 33,840 |
Money Market Funds | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Fair value, assets | 24,225 | 18,029 |
Money Market Funds | Level 1 | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Fair value, assets | 24,225 | 18,029 |
U.S. Government Treasury Securities | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Fair value, assets | 55,881 | 41,347 |
U.S. Government Treasury Securities | Level 1 | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Fair value, assets | 55,881 | 41,347 |
Corporate Notes and Obligations | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Fair value, assets | 38,020 | 33,840 |
Corporate Notes and Obligations | Level 2 | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Fair value, assets | $ 38,020 | $ 33,840 |
Investments - Amortized Cost an
Investments - Amortized Cost and Fair Value on Available-for-Sale Investments and Unrealized Gains and Losses (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Amounts Maturing in One Year or Less | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Available-for-sale debt securities, Amortized Cost | $ 94,011 | $ 36,766 |
Available-for-sale debt securities, Gross Unrealized Losses | (110) | (25) |
Available-for-sale debt securities, Fair Value | 93,901 | 36,741 |
Amounts Maturing in One Year or Less | Corporate Notes and Obligations | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Available-for-sale debt securities, Amortized Cost | 38,044 | 29,866 |
Available-for-sale debt securities, Gross Unrealized Losses | (24) | (25) |
Available-for-sale debt securities, Fair Value | 38,020 | 29,841 |
Amounts Maturing in One Year or Less | U.S. Government Treasury Securities | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Available-for-sale debt securities, Amortized Cost | 55,967 | 6,900 |
Available-for-sale debt securities, Gross Unrealized Losses | (86) | |
Available-for-sale debt securities, Fair Value | $ 55,881 | 6,900 |
Amounts Maturing in Greater than One Year | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Available-for-sale debt securities, Amortized Cost | 38,515 | |
Available-for-sale debt securities, Gross Unrealized Losses | (69) | |
Available-for-sale debt securities, Fair Value | 38,446 | |
Amounts Maturing in Greater than One Year | Corporate Notes and Obligations | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Available-for-sale debt securities, Amortized Cost | 4,010 | |
Available-for-sale debt securities, Gross Unrealized Losses | (11) | |
Available-for-sale debt securities, Fair Value | 3,999 | |
Amounts Maturing in Greater than One Year | U.S. Government Treasury Securities | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Available-for-sale debt securities, Amortized Cost | 34,505 | |
Available-for-sale debt securities, Gross Unrealized Losses | (58) | |
Available-for-sale debt securities, Fair Value | $ 34,447 |
Investments - Gross Unrealized
Investments - Gross Unrealized Losses and Fair Value for Investments in Unrealized Loss Position (Details) $ in Thousands | 12 Months Ended |
Dec. 31, 2017USD ($) | |
Schedule Of Available For Sale Securities [Line Items] | |
Less than 12 months, Fair Value | $ 43,288 |
Less than 12 months, Unrealized Loss | (74) |
12 months or greater, Fair Value | 35,464 |
12 months or greater, Unrealized Loss | (36) |
Corporate Notes and Obligations | |
Schedule Of Available For Sale Securities [Line Items] | |
Less than 12 months, Fair Value | 18,873 |
Less than 12 months, Unrealized Loss | (22) |
12 months or greater, Fair Value | 3,998 |
12 months or greater, Unrealized Loss | (3) |
U.S. Government Treasury Securities | |
Schedule Of Available For Sale Securities [Line Items] | |
Less than 12 months, Fair Value | 24,415 |
Less than 12 months, Unrealized Loss | (52) |
12 months or greater, Fair Value | 31,466 |
12 months or greater, Unrealized Loss | $ (33) |
Investments - Additional Inform
Investments - Additional Information (Details) | 12 Months Ended |
Dec. 31, 2017USD ($) | |
Available For Sale Securities [Abstract] | |
Other-than-temporarily impairment, unrealized losses on available-for-sale investments | $ 0 |
Property and Equipment - Summar
Property and Equipment - Summary of Property and Equipment (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Property Plant And Equipment [Line Items] | ||
Property and equipment, gross | $ 32,361 | $ 29,918 |
Less: Accumulated depreciation and amortization | (21,924) | (17,091) |
Property and equipment, net | 10,437 | 12,827 |
Computer and Office Equipment | ||
Property Plant And Equipment [Line Items] | ||
Property and equipment, gross | 16,763 | 15,740 |
Software | ||
Property Plant And Equipment [Line Items] | ||
Property and equipment, gross | 4,710 | 3,631 |
Furniture | ||
Property Plant And Equipment [Line Items] | ||
Property and equipment, gross | 1,534 | 1,561 |
Leasehold Improvements | ||
Property Plant And Equipment [Line Items] | ||
Property and equipment, gross | $ 9,354 | $ 8,986 |
Property and Equipment - Additi
Property and Equipment - Additional Information (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Property Plant And Equipment [Line Items] | |||
Depreciation and amortization expense | $ 6,100,000 | $ 6,000,000 | $ 6,500,000 |
Property and equipment, gross | 192,000 | 198,000 | |
Accumulated depreciation and amortization | 148,000 | 113,000 | |
Computer and Office Equipment | |||
Property Plant And Equipment [Line Items] | |||
Fully depreciated computer and office equipment retired | $ 1,500,000 | $ 1,500,000 |
Warrants - Additional Informati
Warrants - Additional Information (Details) - $ / shares | Dec. 31, 2017 | Sep. 26, 2016 | Apr. 30, 2016 |
Class B Common Stock | Subordinated Loan And Security Agreement | |||
Class Of Warrant Or Right [Line Items] | |||
Warrants issued to purchase shares | 27,321 | ||
Common stock issued through cashless exercise of warrant | 25,658 | ||
Class B Common Stock | Subordinated Loan And Security Agreement | |||
Class Of Warrant Or Right [Line Items] | |||
Warrants issued to purchase shares | 21,208 | ||
Exercise price of warrant | $ 14.31 | ||
Class B Common Stock | Warrant Holder One | |||
Class Of Warrant Or Right [Line Items] | |||
Warrants issued to purchase shares | 10,604 | ||
Warrants outstanding | 10,604 | ||
Series A Convertible Preferred Stock | Subordinated Loan And Security Agreement | |||
Class Of Warrant Or Right [Line Items] | |||
Warrants issued to purchase shares | 27,321 | ||
Exercise price of warrant | $ 1.37255 |
Stockholders' Equity - Addition
Stockholders' Equity - Additional Information (Details) | 12 Months Ended |
Dec. 31, 2017$ / sharesshares | |
Class Of Stock [Line Items] | |
Preferred stock, shares authorized | 5,000,000 |
Preferred stock, par value | $ / shares | $ 0.0001 |
Preferred stock, shares outstanding | 0 |
Preferred stock, shares issued | 0 |
Conversion of stock, description | Each share of Class B common stock is convertible at any time at the option of the holder into one share of Class A common stock. In addition, each share of Class B common stock will convert automatically into one share of Class A common stock upon transfer, subject to certain exceptions, and upon the earlier of (1) the seventh anniversary of the closing of the IPO, and (2) the date on which the Class B common stock ceases to represent at least 25% of the outstanding common stock. |
Class A Common Stock | |
Class Of Stock [Line Items] | |
Common stock, shares authorized | 451,000,000 |
Common stock, par value | $ / shares | $ 0.0001 |
Common stock, shares issued | 27,402,965 |
Common stock, shares outstanding | 27,402,965 |
Common stock, entitled for voting rights | one vote per share |
Number of shares issued for conversion | 16,782,886 |
Class B Common Stock | |
Class Of Stock [Line Items] | |
Common stock, shares authorized | 44,000,000 |
Common stock, par value | $ / shares | $ 0.0001 |
Common stock, shares issued | 14,709,981 |
Common stock, shares outstanding | 14,709,981 |
Common stock, entitled for voting rights | ten votes per share |
Percentage of outstanding common stock, minimum | 25.00% |
Number of shares converted | 16,782,886 |
Equity Incentive Plans - Additi
Equity Incentive Plans - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands | Jan. 01, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||
Proceed from stock option exercises | $ 21,868 | $ 1,333 | $ 2,670 | |
Stock-based Compensation | $ 16,070 | $ 10,459 | $ 7,815 | |
Stock Option | ||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||
Remaining vesting period | 3 years | |||
Stock options, exercisable period | 10 years | |||
Weighted-average grant date fair value of option granted | $ 5.94 | $ 5.73 | $ 6.05 | |
Fair value of shares vested | $ 11,600 | $ 8,300 | $ 7,600 | |
Total intrinsic value of options exercised | 38,500 | 2,900 | 5,400 | |
Proceed from stock option exercises | $ 21,900 | $ 1,300 | $ 2,700 | |
Stock option, weighted average volatility rate | 34.70% | 38.90% | 42.70% | |
Unrecognized compensation cost | $ 14,900 | |||
Weighted-average remaining expected term | 2 years 3 months 18 days | |||
Stock Option | One year from the date of requisite service | ||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||
Vesting percentage granted | 25.00% | |||
RSU | ||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||
Remaining vesting period | 3 years | |||
Weighted-average remaining expected term | 3 years 3 months 18 days | |||
Aggregate grant date fair value of RSUs granted | $ 27,800 | $ 10,400 | ||
Stock-based Compensation | 5,300 | |||
Unrecognized compensation cost | $ 28,800 | |||
RSU | One year from the date of requisite service | ||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||
Vesting percentage granted | 25.00% | |||
2016 Equity Incentive Plan | ||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||
Shares available for future issuance | 4,237,746 | |||
Automatically increase percentage of shares of all classes of company's common stock outstanding | 5.00% | |||
2016 Equity Incentive Plan | Subsequent Event | ||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||
Automatically increase of shares reserved for issuance | 2,105,647 | |||
2016 Equity Incentive Plan | Minimum | ||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||
Automatically increase of shares reserved for issuance | 5,500,000 | |||
2007 Stock Plan | ||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||
Shares available for future issuance | 0 | |||
2011 Executive Equity Incentive Plan | ||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||
Shares available for future issuance | 0 | |||
2016 Employee Stock Purchase Plan | ||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||
Automatically increase percentage of shares of all classes of company's common stock outstanding | 1.00% | |||
2016 Employee Stock Purchase Plan | Common Shares | ||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||
Common shares issued | 311,742 | |||
2016 Employee Stock Purchase Plan | Class A Common Stock | ||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||
Shares available for future issuance | 821,635 | |||
Automatically increase of shares reserved for issuance | 1,600,000 | |||
Purchase price of common stock, percent | 85.00% | |||
2016 Employee Stock Purchase Plan | Subsequent Event | Class A Common Stock | ||||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||||
Automatically increase of shares reserved for issuance | 421,129 |
Equity Incentive Plans - Summar
Equity Incentive Plans - Summary of Stock Option Activity Under 2016 Plan, 2011 Plan and 2007 Plan (Details) - Stock Option $ / shares in Units, $ in Thousands | 12 Months Ended |
Dec. 31, 2017USD ($)$ / sharesshares | |
Options Outstanding | |
Outstanding at beginning of period | shares | 11,203,000 |
Options granted | shares | 451,000 |
Options exercised | shares | (3,339,000) |
Options forfeited or canceled | shares | (825,000) |
Outstanding at end of period | shares | 7,490,000 |
Vested and expected to vest at end of period | shares | 7,410,000 |
Exercisable at end of period | shares | 4,935,000 |
Weighted Average Exercise Price per Share | |
Outstanding at beginning of period | $ / shares | $ 9.49 |
Options granted | $ / shares | 16.97 |
Options exercised | $ / shares | 6.56 |
Options forfeited or canceled | $ / shares | 13.84 |
Outstanding at end of period | $ / shares | 10.76 |
Vested and expected to vest at end of period | $ / shares | 10.71 |
Exercisable at end of period | $ / shares | $ 8.74 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract] | |
Outstanding | 6 years 4 months 28 days |
Vested and expected to vest at end of period | 6 years 4 months 20 days |
Exercisable at end of period | 5 years 6 months 10 days |
Total Intrinsic Value | $ | $ 95,553 |
Vested and expected to vest at end of period | $ | 94,925 |
Exercisable at end of period | $ | $ 72,930 |
Equity Incentive Plans - Schedu
Equity Incentive Plans - Schedule of Fair Value of Stock Options Granted Estimated Using Black-Scholes Option Pricing Model (Details) - Stock Option | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||
Dividend yield | 0.00% | 0.00% | 0.00% |
Risk-free interest rate, minimum | 1.80% | 1.10% | 1.30% |
Risk-free interest rate, maximum | 2.10% | 2.10% | 2.00% |
Expected volatility, minimum | 33.30% | 37.40% | 38.90% |
Expected volatility, maximum | 35.40% | 42.40% | 47.00% |
Minimum | |||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||
Expected life | 4 years 1 month 6 days | 5 years 7 months 6 days | 5 years |
Maximum | |||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | |||
Expected life | 5 years 7 months 6 days | 7 years 10 months 24 days | 6 years 1 month 6 days |
Equity Incentive Plans - Summ47
Equity Incentive Plans - Summary of RSU Activity Under 2016 Plan (Details) - RSU shares in Thousands | 12 Months Ended |
Dec. 31, 2017$ / sharesshares | |
RSU Outstanding | |
Non-Vested outstanding at beginning period | shares | 628 |
Granted | shares | 1,741 |
Vested | shares | (128) |
Forfeited or canceled | shares | (211) |
Non-Vested outstanding at end of period | shares | 2,030 |
Weighted-Average Grant Date Fair Value per Share | |
Non-Vested outstanding at begging period | $ / shares | $ 16.43 |
Granted | $ / shares | 15.97 |
Vested | $ / shares | 16.46 |
Forfeited or canceled | $ / shares | 15.27 |
Non-Vested outstanding at end of period | $ / shares | $ 16.15 |
Equity Incentive Plans - Sche48
Equity Incentive Plans - Schedule of Fair Value of Common Shares to be Issued Under the 2016 ESPP (Details) - 2016 Employee Stock Purchase Plan | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||
Dividend yield | 0.00% | 0.00% |
Risk-free interest rate, minimum | 1.07% | 0.60% |
Risk-free interest rate, maximum | 1.45% | |
Expected life | 6 months | 6 months 21 days |
Expected volatility, minimum | 27.00% | 33.90% |
Expected volatility, maximum | 44.30% |
Equity Incentive Plans - Summ49
Equity Incentive Plans - Summary of Stock Based Compensation Expenses (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items] | |||
Stock-based Compensation | $ 16,070 | $ 10,459 | $ 7,815 |
Cost of Revenue Subscription | |||
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items] | |||
Stock-based Compensation | 1,218 | 891 | 482 |
Cost of Revenue Professional Services | |||
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items] | |||
Stock-based Compensation | 1,131 | 820 | 738 |
Research and Development | |||
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items] | |||
Stock-based Compensation | 4,491 | 2,977 | 2,283 |
Sales and Marketing | |||
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items] | |||
Stock-based Compensation | 4,614 | 3,132 | 2,477 |
General and Administrative | |||
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items] | |||
Stock-based Compensation | $ 4,616 | $ 2,639 | $ 1,835 |
Net Loss Per Share Attributab50
Net Loss Per Share Attributable to Common Stockholders - Computation of Basic and Diluted Net Loss Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Numerator: | |||||||||||
Net loss attributable to common stockholders | $ (6,890) | $ (5,171) | $ (7,013) | $ (6,547) | $ (7,917) | $ (8,755) | $ (8,985) | $ (5,896) | $ (25,621) | $ (31,553) | $ (41,007) |
Denominator: | |||||||||||
Weighted-average common shares outstanding - basic and diluted | 39,754 | 19,595 | 12,653 | ||||||||
Net loss per common share - basic and diluted | $ (0.17) | $ (0.13) | $ (0.18) | $ (0.17) | $ (0.21) | $ (0.63) | $ (0.69) | $ (0.45) | $ (0.64) | $ (1.61) | $ (3.24) |
Net Loss Per Share Attributab51
Net Loss Per Share Attributable to Common Stockholders - Schedule of Antidilutive Securities Excluded from Computation of Diluted Net Loss Per Share (Details) - shares shares in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items] | |||
Antidilutive securities excluded from computation of diluted net loss per share | 11,228 | 24,600 | 27,567 |
Employee Stock Purchase Plan Shares | |||
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items] | |||
Antidilutive securities excluded from computation of diluted net loss per share | 191 | 29 | |
Options to Purchase Common Shares | |||
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items] | |||
Antidilutive securities excluded from computation of diluted net loss per share | 9,611 | 10,969 | 9,294 |
Restricted Stock Units | |||
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items] | |||
Antidilutive securities excluded from computation of diluted net loss per share | 1,415 | 41 | |
Common Stock Warrant | |||
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items] | |||
Antidilutive securities excluded from computation of diluted net loss per share | 11 | 36 | 6 |
Preferred Stock Warrant (as converted) | |||
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items] | |||
Antidilutive securities excluded from computation of diluted net loss per share | 20 | 27 | |
Convertible Preferred Shares (as converted) | |||
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items] | |||
Antidilutive securities excluded from computation of diluted net loss per share | 13,505 | 18,240 |
Income Taxes - Additional Infor
Income Taxes - Additional Information (Details) - USD ($) | 3 Months Ended | 12 Months Ended | |||
Dec. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Operating Loss Carryforwards [Line Items] | |||||
Federal corporate tax rate | 34.00% | 34.00% | 34.00% | ||
Reduction in deferred tax assets due to change in tax rate | $ 30,019,000 | ||||
Tax expense | $ 0 | 561,000 | $ 452,000 | $ 109,000 | |
Provisional amount related to the re-measurement of certain deferred tax assets and liabilities | 30,000,000 | ||||
Provisional amount related to the one-time transition tax on the mandatory deemed repatriation of foreign earnings | 695,000 | ||||
Cumulative foreign earnings | 5,500,000 | ||||
Net operating loss carryforwards, US | 207,900,000 | $ 207,900,000 | |||
Change in effective income tax rate, effort of Tax Act | (2.24%) | ||||
Accrued income tax for interest or penalties | $ 0 | $ 0 | $ 0 | $ 0 | |
Earliest Tax Year | |||||
Operating Loss Carryforwards [Line Items] | |||||
Net operating loss carryforwards expiration year | 2,028 | ||||
Open tax year for review by taxing authorities | 2,011 | ||||
Latest Tax Year | |||||
Operating Loss Carryforwards [Line Items] | |||||
Net operating loss carryforwards expiration year | 2,036 | ||||
Open tax year for review by taxing authorities | 2,017 | ||||
Scenario, Forecast | |||||
Operating Loss Carryforwards [Line Items] | |||||
Federal corporate tax rate | 21.00% |
Income Taxes - Components of Lo
Income Taxes - Components of Loss Before Provision for Income Taxes (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Income Tax Disclosure [Abstract] | |||
United States | $ (33,268) | $ (26,161) | $ (40,805) |
Foreign | 8,208 | (4,940) | (93) |
Loss before provision for income taxes | $ (25,060) | $ (31,101) | $ (40,898) |
Income Taxes - Components of Pr
Income Taxes - Components of Provision for Income Taxes (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Current: | ||||
Federal | $ 0 | $ 0 | $ 0 | |
State | 2 | 7 | 21 | |
Foreign | 559 | 445 | 88 | |
Total | 561 | 452 | 109 | |
Deferred: | ||||
Federal | 0 | 0 | 0 | |
State | 0 | 0 | 0 | |
Foreign | 0 | 0 | 0 | |
Total | 0 | 0 | 0 | |
Provision for income taxes | $ 0 | $ 561 | $ 452 | $ 109 |
Income Taxes - Income Taxes Com
Income Taxes - Income Taxes Computed at Federal Statutory and Provision Income Taxes (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Income Tax Disclosure [Abstract] | ||||
Income tax benefit at statutory rate | $ (8,520) | $ (10,574) | $ (13,832) | |
Statutory rate change | 30,019 | |||
State taxes, net of federal benefit | (2,612) | (213) | 14 | |
Impact of foreign income taxes | (2,233) | 2,124 | 119 | |
Stock-based compensation | (7,542) | 2,340 | 1,629 | |
Foreign exchange loss (gain) | 1,990 | (1,920) | ||
Change in valuation allowance | (8,782) | 9,510 | 12,673 | |
Impact of ASU 2016-09 | (1,809) | |||
Transition tax | 695 | |||
Research and development credits | (833) | (764) | (674) | |
Other | 188 | (51) | 180 | |
Provision for income taxes | $ 0 | $ 561 | $ 452 | $ 109 |
Income Taxes - Components of Ne
Income Taxes - Components of Net Deferred Tax Assets (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 |
Deferred tax assets: | ||||
Net operating loss carryforwards | $ 49,996 | $ 58,457 | ||
Deferred revenue | 604 | 372 | ||
Tax credits | 3,662 | 2,829 | ||
Accrued payroll | 646 | 935 | ||
Accrued expenses not currently deductible | 1,239 | 2,121 | ||
Non-qualified stock options | 2,689 | 3,164 | ||
Depreciation and amortization | 350 | 128 | ||
Other | 84 | 46 | ||
Gross deferred assets | 59,270 | 68,052 | ||
Valuation allowance | (59,270) | (68,052) | $ (58,542) | $ (45,011) |
Total deferred tax assets, net of valuation allowance | 0 | 0 | ||
Deferred tax liabilities: | ||||
Depreciation and amortization | 0 | 0 | ||
Unrealized foreign currency gain/loss | 0 | 0 | ||
Total deferred tax liabilities | 0 | 0 | ||
Net deferred assets | $ 0 | $ 0 |
Income Taxes - Net Change in To
Income Taxes - Net Change in Total Valuation Allowance (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Income Tax Disclosure [Abstract] | |||
Balance at beginning of period | $ (68,052) | $ (58,542) | $ (45,011) |
Tax valuation increase | (1,324) | (9,779) | (14,375) |
Tax valuation decrease | 10,106 | 269 | 844 |
Balance at end of period | $ (59,270) | $ (68,052) | $ (58,542) |
Income Taxes - Summary of Unrec
Income Taxes - Summary of Unrecognized Gross Tax Benefits (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Income Tax Disclosure [Abstract] | |||
Unrecognized tax benefits at beginning of year | $ 2,829 | $ 2,065 | $ 1,391 |
Additions for tax positions in prior years | 0 | 0 | 0 |
Additions for tax positions in the current year | 833 | 764 | 674 |
Unrecognized tax benefits at end of year | $ 3,662 | $ 2,829 | $ 2,065 |
Segments - Additional Informati
Segments - Additional Information (Details) - Segment | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Segment Reporting Information [Line Items] | |||
Number of operating segment | 1 | ||
Americas | Revenue | Geographic Concentration Risk | |||
Segment Reporting Information [Line Items] | |||
Percentage of revenue attributable to United States | 99.00% | 99.00% | 99.00% |
Segments - Summary of Revenue b
Segments - Summary of Revenue by Geographic Areas (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Revenues From External Customers And Long Lived Assets [Line Items] | |||||||||||
Revenue | $ 52,367 | $ 46,996 | $ 45,225 | $ 43,931 | $ 44,320 | $ 40,627 | $ 38,779 | $ 36,843 | $ 188,519 | $ 160,569 | $ 129,251 |
Americas | |||||||||||
Revenues From External Customers And Long Lived Assets [Line Items] | |||||||||||
Revenue | 135,289 | 120,306 | 101,192 | ||||||||
EMEA | |||||||||||
Revenues From External Customers And Long Lived Assets [Line Items] | |||||||||||
Revenue | 43,661 | 33,800 | 22,296 | ||||||||
APAC | |||||||||||
Revenues From External Customers And Long Lived Assets [Line Items] | |||||||||||
Revenue | $ 9,569 | $ 6,463 | $ 5,763 |
Segments - Summary of Long-live
Segments - Summary of Long-lived Assets, Net of Accumulated Depreciation, by Geographic Areas (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Revenues From External Customers And Long Lived Assets [Line Items] | ||
Long-lived assets, net of accumulated depreciation | $ 10,437 | $ 12,827 |
Americas | ||
Revenues From External Customers And Long Lived Assets [Line Items] | ||
Long-lived assets, net of accumulated depreciation | 8,502 | 10,894 |
EMEA | ||
Revenues From External Customers And Long Lived Assets [Line Items] | ||
Long-lived assets, net of accumulated depreciation | 1,648 | 1,523 |
APAC | ||
Revenues From External Customers And Long Lived Assets [Line Items] | ||
Long-lived assets, net of accumulated depreciation | $ 287 | $ 410 |
Commitments and Contingencies -
Commitments and Contingencies - Additional Information (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Commitments And Contingencies Disclosure [Abstract] | |||
Total rent expense for operating leases | $ 4.1 | $ 3.8 | $ 3.5 |
Commitments and Contingencies63
Commitments and Contingencies - Schedule of Future Minimum Payments under Non-Cancellable Operating and Capital Lease Agreements and Other Non-Cancellable Agreements (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Operating Leases | ||
2,018 | $ 4,439 | |
2,019 | 4,227 | |
2,020 | 3,493 | |
2,021 | 3,564 | |
2,022 | 3,662 | |
Thereafter | 307 | |
Total Minimum Lease Payments | 19,692 | |
Capital Leases | ||
2,018 | 22 | |
2,019 | 20 | |
2,020 | 7 | |
Total Minimum Lease Payments | 49 | |
Less amounts representing interest | (2) | |
Present value of capital lease obligations | 47 | |
Less: Current portion | (21) | $ (43) |
Capital leases, net of current portion | 26 | $ 51 |
Other Obligations | ||
2,018 | 1,107 | |
2,019 | 827 | |
2,020 | 349 | |
Total Minimum Lease Payments | $ 2,283 |
Credit Facilities - Additional
Credit Facilities - Additional Information (Details) - Silicon Valley Bank - Revolving Credit Facility - USD ($) | 12 Months Ended | |
Dec. 31, 2017 | Apr. 20, 2016 | |
Line Of Credit Facility [Line Items] | ||
Maximum borrowings capacity | $ 15,000,000 | |
Credit facility expiration date | Jun. 16, 2017 | |
Term loan borrowings | $ 0 |
Subsequent Events - Additional
Subsequent Events - Additional Information (Details) - Subsequent Event - Digital Fuel $ in Millions | Feb. 02, 2018USD ($)shares |
Subsequent Event [Line Items] | |
Total estimated consideration for acquistion | $ 42.5 |
Cash consideration for acquisition | $ 38.3 |
Class A Common Stock | |
Subsequent Event [Line Items] | |
Number of shares issued for acquisition | shares | 176,406 |
Quarterly Financial Informati66
Quarterly Financial Information (Unaudited) - Summary of Selected Unaudited Financial Data (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Quarterly Financial Information Disclosure [Abstract] | |||||||||||
Total revenue | $ 52,367 | $ 46,996 | $ 45,225 | $ 43,931 | $ 44,320 | $ 40,627 | $ 38,779 | $ 36,843 | $ 188,519 | $ 160,569 | $ 129,251 |
Gross profit | 37,682 | 33,066 | 30,706 | 28,512 | 29,900 | 26,638 | 25,624 | 24,247 | 129,966 | 106,409 | 80,074 |
Net loss | $ (6,890) | $ (5,171) | $ (7,013) | $ (6,547) | $ (7,917) | $ (8,755) | $ (8,985) | $ (5,896) | $ (25,621) | $ (31,553) | $ (41,007) |
Net loss per share attributable to common stockholders, basic and diluted | $ (0.17) | $ (0.13) | $ (0.18) | $ (0.17) | $ (0.21) | $ (0.63) | $ (0.69) | $ (0.45) | $ (0.64) | $ (1.61) | $ (3.24) |