Document and Entity Information
Document and Entity Information - shares | 3 Months Ended | |
Apr. 30, 2018 | Jun. 04, 2018 | |
Document Information [Abstract] | ||
Entity Registrant Name | MongoDB, Inc. | |
Entity Central Index Key | 1,441,816 | |
Current Fiscal Year End Date | --01-31 | |
Entity Filer Category | Non-accelerated Filer | |
Document Type | 10-Q | |
Document Period End Date | Apr. 30, 2018 | |
Document Fiscal Year Focus | 2,019 | |
Document Fiscal Period Focus | Q1 | |
Amendment Flag | false | |
Class A Common Stock | ||
Entity Common Stock, Shares Outstanding | 24,766,963 | |
Class B Common Stock | ||
Entity Common Stock, Shares Outstanding | 25,864,505 |
CONDENSED CONSOLIDATED BALANCE
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands | Apr. 30, 2018 | Jan. 31, 2018 |
Current assets: | ||
Cash and cash equivalents | $ 111,617 | $ 61,902 |
Short-term investments | 159,371 | 217,072 |
Accounts receivable, net of allowance for doubtful accounts of $1,235 and $1,238 as of April 30, 2018 and January 31, 2018, respectively | 32,475 | 46,872 |
Deferred commissions | 13,155 | 11,820 |
Prepaid expenses and other current assets | 9,101 | 5,884 |
Total current assets | 325,719 | 343,550 |
Property and equipment, net | 63,335 | 59,557 |
Goodwill | 1,700 | 1,700 |
Acquired intangible assets, net | 1,406 | 1,627 |
Deferred tax assets | 323 | 326 |
Other assets | 7,744 | 8,436 |
Total assets | 400,227 | 415,196 |
Current liabilities: | ||
Accounts payable | 1,429 | 2,261 |
Accrued compensation and benefits | 14,773 | 17,433 |
Other accrued liabilities | 8,518 | 8,423 |
Deferred revenue | 119,936 | 114,500 |
Total current liabilities | 144,656 | 142,617 |
Deferred rent, non-current | 1,397 | 925 |
Deferred tax liability, non-current | 19 | 18 |
Deferred revenue, non-current | 21,909 | 22,930 |
Other liabilities, non-current | 59,739 | 55,213 |
Total liabilities | 227,720 | 221,703 |
Commitments and contingencies (Note 4) | ||
Stockholders’ equity: | ||
Additional paid-in capital | 646,973 | 638,680 |
Treasury stock, 99,371 shares (repurchased at an average of $13.27 per share) as of April 30, 2018 and January 31, 2018 | (1,319) | (1,319) |
Accumulated other comprehensive loss | (274) | (159) |
Accumulated deficit | (472,924) | (443,760) |
Total stockholders’ equity | 172,507 | 193,493 |
Total liabilities and stockholders’ equity | 400,227 | 415,196 |
Class A Common Stock | ||
Stockholders’ equity: | ||
Common stock | 24 | 13 |
Class B Common Stock | ||
Stockholders’ equity: | ||
Common stock | $ 27 | $ 38 |
CONDENSED CONSOLIDATED BALANCE3
CONDENSED CONSOLIDATED BALANCE SHEETS (Parentheticals) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Apr. 30, 2018 | Jan. 31, 2018 | |
Current assets: | ||
Allowance for doubtful accounts | $ 1,235 | $ 1,238 |
Stockholders’ equity: | ||
Treasury stock (in shares) | 99,371 | 99,371 |
Average repurchase price of treasury stock shares (in dollars per share) | $ 13.27 | $ 13.27 |
Class A Common Stock | ||
Stockholders’ equity: | ||
Common stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Common stock authorized (in shares) | 1,000,000,000 | 1,000,000,000 |
Common stock issued (in shares) | 23,635,144 | 13,303,028 |
Common stock outstanding (in shares) | 23,635,144 | 13,303,028 |
Class B Common Stock | ||
Stockholders’ equity: | ||
Common stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Common stock authorized (in shares) | 100,000,000 | 100,000,000 |
Common stock issued (in shares) | 27,061,251 | 37,371,914 |
Common stock outstanding (in shares) | 26,961,880 | 37,272,543 |
CONDENSED CONSOLIDATED STATEMEN
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands | 3 Months Ended | |
Apr. 30, 2018 | Apr. 30, 2017 | |
Revenue: | ||
Subscription | $ 44,565 | $ 29,187 |
Services | 3,657 | 3,203 |
Total revenue | 48,222 | 32,390 |
Cost of revenue: | ||
Subscription | 10,070 | 6,550 |
Services | 3,679 | 2,649 |
Total cost of revenue | 13,749 | 9,199 |
Gross profit | 34,473 | 23,191 |
Operating expenses: | ||
Sales and marketing | 33,889 | 22,145 |
Research and development | 18,645 | 13,077 |
General and administrative | 11,227 | 7,771 |
Total operating expenses | 63,761 | 42,993 |
Loss from operations | (29,288) | (19,802) |
Other income (expense): | ||
Interest income, net | 959 | 137 |
Other income (expense), net | (368) | 204 |
Loss before provision for income taxes | (28,697) | (19,461) |
Provision for income taxes | 467 | 229 |
Net loss | $ (29,164) | $ (19,690) |
Net loss per share, basic and diluted (in dollars per share) | $ (0.58) | $ (1.50) |
Weighted-average shares used to compute net loss per share, basic and diluted (in shares) | 50,350,052 | 13,164,559 |
CONSOLIDATED STATEMENTS OF COMP
CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($) $ in Thousands | 3 Months Ended | |
Apr. 30, 2018 | Apr. 30, 2017 | |
Statement of Comprehensive Income [Abstract] | ||
Net loss | $ (29,164) | $ (19,690) |
Other comprehensive (loss) income, net of tax: | ||
Unrealized loss on available-for-sale securities | (82) | (9) |
Foreign currency translation adjustments | (33) | 67 |
Other comprehensive (loss) income | (115) | 58 |
Total comprehensive loss | $ (29,279) | $ (19,632) |
CONDENSED CONSOLIDATED STATEME6
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands | 3 Months Ended | |
Apr. 30, 2018 | Apr. 30, 2017 | |
Cash flows from operating activities | ||
Net loss | $ (29,164) | $ (19,690) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Depreciation and amortization | 817 | 897 |
Stock-based compensation | 7,508 | 4,454 |
Deferred income taxes | 4 | 63 |
Change in fair value of warrant liability | 0 | (100) |
Change in operating assets and liabilities: | ||
Accounts receivable | 14,312 | 4,755 |
Prepaid expenses and other current assets | (3,246) | (2,953) |
Deferred commissions | (576) | 749 |
Other long-term assets | (70) | (640) |
Accounts payable | (639) | 1,154 |
Deferred rent | 472 | (113) |
Accrued liabilities | (1,967) | (3,041) |
Deferred revenue | 4,500 | 2,744 |
Net cash used in operating activities | (8,049) | (11,721) |
Cash flows from investing activities | ||
Purchases of property and equipment | (367) | (712) |
Proceeds from maturities of marketable securities | 58,000 | 47,230 |
Purchases of marketable securities | 0 | (64,620) |
Net cash provided by (used in) investing activities | 57,633 | (18,102) |
Cash flows from financing activities | ||
Proceeds from exercise of stock options, including early exercised stock options | 288 | 4,650 |
Repurchase of early exercised stock options | (152) | (4) |
Net cash provided by financing activities | 136 | 4,646 |
Effect of exchange rate changes on cash, cash equivalents, and restricted cash | (8) | 67 |
Net increase (decrease) in cash, cash equivalents, and restricted cash | 49,712 | (25,110) |
Cash, cash equivalents, and restricted cash, beginning of period | 62,427 | 69,412 |
Cash, cash equivalents, and restricted cash, end of period | 112,139 | 44,302 |
Supplemental cash flow disclosure of noncash investing and financing activities | ||
Vesting of early exercised stock options | 533 | 216 |
Costs related to initial public offering included in accounts payable and accrued liabilities | 0 | 650 |
Construction in progress related to build-to-suit lease obligations | 4,225 | 0 |
Reconciliation of cash, cash equivalents, and restricted cash within the condensed consolidated balance sheets, end of period, to the amounts shown in the statements of cash flows above: | ||
Total cash, cash equivalents and restricted cash | $ 62,427 | $ 69,412 |
Organization and Description of
Organization and Description of Business | 3 Months Ended |
Apr. 30, 2018 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Organization and Description of Business | Organization and Description of Business MongoDB, Inc. (“MongoDB” or the “Company”) was originally incorporated in the state of Delaware in November 2007 under the name 10Gen, Inc. In August 2013, the Company changed its name to MongoDB, Inc. The Company is headquartered in New York City. MongoDB is the leading, modern, general purpose database platform. The Company’s robust platform enables developers to build and modernize applications rapidly and cost-effectively across a broad range of use cases. Organizations can deploy our platform at scale in the cloud, on-premise, or in a hybrid environment. In addition to selling its software, the Company provides post-contract support, training, and consulting services for its offerings. The Company’s fiscal year ends January 31 . |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 3 Months Ended |
Apr. 30, 2018 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | Summary of Significant Accounting Policies Basis of Presentation The accompanying interim condensed consolidated balance sheet as of April 30, 2018 and the interim condensed consolidated statements of operations and of comprehensive loss and interim condensed consolidated statement of cash flows for the three months ended April 30, 2018 and 2017 , are unaudited. The interim unaudited condensed consolidated financial statements have been prepared on a basis consistent with the annual consolidated financial statements and, in the opinion of management, reflect all adjustments, which include only normal recurring adjustments, necessary to state fairly the Company’s financial position as of April 30, 2018 , its results of operations and of comprehensive loss for the three months ended April 30, 2018 and 2017 , and its statement of cash flows for the three months ended April 30, 2018 and 2017 . The financial data and the other financial information disclosed in the notes to these interim condensed consolidated financial statements related to the three -month periods are also unaudited. The results of operations for the three months ended April 30, 2018 are not necessarily indicative of the results to be expected for the fiscal year ending January 31, 2019 or for any other future year or interim period. The interim unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and include the accounts of the Company and its wholly owned subsidiaries. All intercompany transactions and accounts have been eliminated. Certain information and note disclosures normally included in the financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to the applicable rules and regulations of the Securities and Exchange Commission (“SEC”). Therefore, these interim unaudited condensed consolidated financial statements and accompanying footnotes should be read in conjunction with the Company’s annual consolidated financial statements and related footnotes included in its Annual Report on Form 10-K for the fiscal year ended January 31, 2018 (the “2018 Form 10-K”). Use of Estimates The preparation of the interim unaudited condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenue and expenses during the reporting period. Such estimates include, but are not limited to, revenue recognition, allowances for doubtful accounts, stock-based compensation, legal contingencies, fair value of acquired intangible assets and goodwill, useful lives of acquired intangible assets and property and equipment, fair value of property and equipment and accounting for income taxes. The Company bases these estimates on historical and anticipated results, trends and various other assumptions that it believes are reasonable under the circumstances, including assumptions as to future events. Actual results could differ from those estimates. Emerging Growth Company Status As an “emerging growth company” (“EGC”), the Jump-start Our Business Start-ups Act (“JOBS Act”), allows the Company to delay adoption of new or revised accounting pronouncements applicable to public companies until such pronouncements are made applicable to private companies. The Company has elected to use this extended transition period under the JOBS Act. As a result, the Company’s financial statements may not be comparable to the financial statements of issuers who are required to comply with the effective dates for new or revised accounting standards that are applicable to public companies, which may make the Company’s common stock less attractive to investors. Significant Accounting Policies There have been no changes to the Company’s significant accounting policies described in the Company’s 2018 Form 10-K. Related Party Transactions All contracts with related parties are executed in ordinary course of business. There were no material related party transactions in the three months ended April 30, 2018 and 2017 . As of April 30, 2018 and January 31, 2018 , there were no material amounts payable to or amounts receivable from related parties. New Accounting Pronouncements Not Yet Adopted Goodwill Impairment. In January 2017, the Financial Accounting Standards Board (“FASB”) issued ASU 2017-04— Intangibles—Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment. The new standard will simplify the measurement of goodwill by eliminating step two of the two-step impairment test. Step two measures a goodwill impairment loss by comparing the implied fair value of a reporting unit’s goodwill with the carrying amount of that goodwill. The new guidance requires an entity to compare the fair value of a reporting unit with its carrying amount and recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value. Additionally, an entity should consider income tax effects from any tax deductible goodwill on the carrying amount of the reporting unit when measuring the goodwill impairment loss, if applicable. The new guidance becomes effective for the Company for the fiscal year ending January 31, 2022, though early adoption is permitted. The Company does not expect the adoption of the new accounting standard to have a material impact on its consolidated financial statements. Leases. In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842), which modifies lease accounting for lessees to increase transparency and comparability by recording lease assets and liabilities for operating leases and disclosing key information about leasing arrangements. Depending on when the Company loses its EGC status, it may be required to adopt the new lease standard as early as its interim results for the period ending April 30, 2019, but no later than for its annual results for the fiscal year ending January 31, 2021, though early adoption is permitted. The Company is currently evaluating adoption methods and whether this standard will have a material impact on its consolidated financial statements. Revenue Recognition. In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606), which amends the existing accounting standard for revenue recognition. ASU 2014-09 is based on principles that govern the recognition of revenue at an amount to which an entity expects to be entitled when products are transferred to customers. Subsequently, the FASB has issued the following pronouncements related to ASU 2014-09: ASU No. 2016-08, Revenue from Contracts with Customers (Topic 606): Principal versus Agent Considerations ; ASU No. 2016-10, Revenue from Contracts with Customers (Topic 606): Identifying Performance Obligations and Licensing ; ASU No. 2016-12, Revenue from Contracts with Customers (Topic 606): Narrow-Scope Improvements and Practical Expedients ; and ASU 2016-20, Technical Corrections and Improvements to Topic 606 , which clarifies narrow aspects of ASC 606 or corrects unintended application of the guidance. The Company must adopt ASU 2016-08, ASU 2016-10, ASU 2016-12, and ASU 2016-20 with ASU 2014-09 (collectively, the “new revenue standard”). The Company plans to adopt the new revenue standard using the full retrospective transition method when it becomes effective for the Company. Depending on when the Company loses its EGC status, it may be required to adopt the new revenue standard as early as its annual results for the fiscal year ending January 31, 2019, but no later than for its annual results for the fiscal year ending January 31, 2020, though early adoption is permitted. While the Company continues to assess the potential impacts of the new revenue standard, the Company currently expects unearned subscription revenue to decline significantly upon adoption. Currently, as the Company’s subscription offerings include software term licenses and post-contract customer support for which the Company has not established vendor specific objective evidence (“VSOE”), the entire subscription fee is recognized ratably over the term of the contract. However, under the new revenue standard, the requirement for VSOE for undelivered elements is eliminated and, as a result, the Company is required to identify all deliverables in a contract and recognize revenue based on each deliverable separately. The Company currently expects that the portion related to the software term license deliverable will be recognized upon delivery, which may result in greater fluctuations in its consolidated financial statements. The Company is in the process of determining the revenue recognition impact for the other deliverables of each contract. The Company continues to evaluate the effect that the new revenue standard will have on its consolidated financial statements and related disclosures, and preliminary assessments are subject to change. |
Fair Value Measurements
Fair Value Measurements | 3 Months Ended |
Apr. 30, 2018 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements | Fair Value Measurements The following tables present information about the Company’s financial assets and liabilities that have been measured at fair value on a recurring basis as of April 30, 2018 and January 31, 2018 , and indicate the fair value hierarchy of the valuation inputs utilized to determine such fair value (in thousands): Fair Value Measurement at April 30, 2018 Level 1 Level 2 Level 3 Total Financial Assets: Cash and cash equivalents: Money market funds $ 94,300 $ — $ — $ 94,300 Short-term investments: U.S. government treasury securities 159,371 — — 159,371 Total financial assets $ 253,671 $ — $ — $ 253,671 Fair Value Measurement at January 31, 2018 Level 1 Level 2 Level 3 Total Financial Assets: Cash and cash equivalents: Money market funds $ 45,918 $ — $ — $ 45,918 Short-term investments: U.S. government treasury securities 217,072 — — 217,072 Total financial assets $ 262,990 $ — $ — $ 262,990 The Company utilized the market approach and Level 1 valuation inputs to value its money market mutual funds and U.S. government treasury securities because published net asset values were readily available. As of April 30, 2018 and January 31, 2018 , gross unrealized gains and unrealized losses for cash equivalents and short-term investments were not material, and the contractual maturity of all marketable securities was less than one year. |
Commitments and Contingencies
Commitments and Contingencies | 3 Months Ended |
Apr. 30, 2018 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | Commitments and Contingencies Operating Leases The Company has entered into non-cancelable operating leases, primarily related to rental of office space expiring through 2029. The Company recognizes operating lease costs on a straight-line basis over the term of the agreement, taking into account adjustments for market provisions such as free or escalating base monthly rental payments or deferred payment terms such as rent holidays that defer the commencement date of the required payments. The Company may receive renewal or expansion options, leasehold improvement allowances or other incentives on certain lease agreements. Total rent expense related to operating leases was $3.1 million and $2.1 million for the three months ended April 30, 2018 and 2017 , respectively. Other Commitments The Company has also entered into certain other non-cancelable agreements primarily for cloud infrastructure capacity commitments, as well as subscriptions and marketing events. 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, if determined adversely to the Company, would individually or taken together have a material adverse effect on its business, financial position, results of operations or cash flows. The Company accrues estimates for resolution of legal and other contingencies when losses are probable and estimable. From time to time, the Company is a party to litigation and subject to claims and threatened claims incident to the ordinary course of business, including intellectual property claims, labor and employment claims, breach of contract claims, and other matters. Although the results of litigation and claims are inherently unpredictable, the Company believes that there was not at least a reasonable possibility that the Company had incurred a material loss with respect to such loss contingencies, as of April 30, 2018 and January 31, 2018 , therefore, the Company has no t recorded an accrual for such contingencies. Indemnification The Company enters into indemnification provisions under its agreements with other companies in the ordinary course of business, including customers, business partners, landlords, contractors and parties performing its research and development. Pursuant to these arrangements, the Company agrees to indemnify, hold harmless, and reimburse the indemnified party for certain losses suffered or incurred by the indemnified party as a result of the Company’s activities. The maximum potential amount of future payments the Company could be required to make under these agreements is not determinable. The Company has never incurred costs to defend lawsuits or settle claims related to these indemnification agreements. As a result, the Company believes the fair value of these agreements is not material. The Company maintains commercial general liability insurance and product liability insurance to offset certain of the Company’s potential liabilities under these indemnification provisions. The Company has entered into indemnification agreements with each of its directors and executive officers. These agreements require the Company to indemnify such individuals, to the fullest extent permitted by Delaware law, for certain liabilities to which they may become subject as a result of their affiliation with the Company. |
Equity Incentive Plans and Empl
Equity Incentive Plans and Employee Stock Purchase Plan | 3 Months Ended |
Apr. 30, 2018 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Equity Incentive Plans and Employee Stock Purchase Plan | Equity Incentive Plans and Employee Stock Purchase Plan Equity Incentive Plans The Company adopted the 2008 Stock Incentive Plan (as amended, the “2008 Plan”) in 2008 and the 2016 Equity Incentive Plan (as amended, the “2016 Plan”) in 2016, primarily for the purpose of granting stock-based awards to employees, directors, and consultants. With the establishment of the 2016 Plan in December 2016, all shares available for grant under the 2008 Plan were transferred to the 2016 Plan. The Company no longer grants any stock-based awards under the 2008 Plan and any shares underlying stock options canceled under the 2008 Plan will be automatically transferred to the 2016 Plan. Stock Options The 2016 Plan provides for the issuance of incentive stock options to employees and nonstatutory stock options to employees, directors or consultants. The Board of Directors or a committee thereof determines the vesting schedule for all equity awards. Stock option awards generally vest over a period of four years with 25% vesting on the one year anniversary of the award and the remainder vesting monthly over the next 36 months of the grantee’s service to the Company. The following table summarizes stock option activity for the three months ended April 30, 2018 (in thousands, except share and per share data and years): Shares Weighted- Weighted- Aggregate Balance - January 31, 2018 12,637,435 $ 7.63 7.72 $ 246,227 Stock options granted — — Stock options exercised (40,723 ) 6.36 Repurchase of early exercised shares — — Stock options forfeited and expired (123,781 ) 9.22 Balance - April 30, 2018 12,472,931 7.61 7.44 353,927 Vested and exercisable - January 31, 2018 5,540,858 6.33 6.63 115,122 Vested and exercisable - April 30, 2018 6,236,117 $ 6.46 6.51 $ 184,152 Restricted Stock Units The 2016 Plan provides for the issuance of restricted stock units (“RSUs”) to employees, directors and consultants. RSUs generally vest over a period of four years with 25% vesting on the one year anniversary of the award and the remainder vesting quarterly over the next 12 quarters of the grantee’s service to the Company. The following table summarizes RSU activity for the three months ended April 30, 2018 : Shares Weighted-Average Grant Date Fair Value per RSU Unvested - January 31, 2018 245,746 $ 26.20 RSUs granted 1,050,660 39.52 RSUs vested (125 ) 28.87 RSUs forfeited and canceled — — Unvested - April 30, 2018 1,296,281 37.00 Employee Stock Purchase Plan In October 2017, the Board of Directors adopted, and stockholders approved, the 2017 Employee Stock Purchase Plan (“ESPP”). A total of 1.5 million shares of the Company’s Class A common stock have been authorized for issuance under the 2017 ESPP. Subject to any plan limitations, the 2017 ESPP allows eligible employees to contribute, normally through payroll deductions, up to 15% of their earnings for the purchase of the Company’s Class A common stock at a discounted price per share. Except for the initial offering period, the ESPP provides for separate six -month offering periods. The initial offering period will run from October 18, 2017 through June 15, 2018. Unless otherwise determined by the Board of Directors or a committee thereof, the Company’s Class A common stock will be purchased for the accounts of employees participating in the ESPP at a price per share that is the lesser of (1) 85% of the fair market value of the Company’s Class A common stock on the first trading day of the offering period, which for the initial offering period is the price at which shares of the Company’s Class A common stock were first sold to the public, or (2) 85% of the fair market value of the Company’s Class A common stock on the last trading day of the offering period. During the three months ended April 30, 2018 , no shares of Class A common stock were purchased under the 2017 ESPP. Stock-Based Compensation Expense Total stock-based compensation expense recognized in the Company’s interim unaudited condensed consolidated statements of operations is as follows (in thousands): Three Months Ended April 30, 2018 2017 Cost of revenue—subscription $ 359 $ 151 Cost of revenue—services 184 72 Sales and marketing 2,218 1,215 Research and development 2,206 1,245 General and administrative 2,610 1,771 Total stock-based compensation expense $ 7,577 $ 4,454 |
Net Loss per Share
Net Loss per Share | 3 Months Ended |
Apr. 30, 2018 | |
Earnings Per Share [Abstract] | |
Net Loss per Share | Net Loss per Share The Company calculates basic net loss per share by dividing the net loss by the weighted-average number of shares of common stock outstanding during the period, less shares subject to repurchase. Diluted net loss per share is computed by giving effect to all potentially dilutive common stock equivalents outstanding for the period, including stock options and restricted stock units. Prior to the Company’s closing of its initial public offering in October 2017, the Company calculated 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 considered all series of redeemable convertible preferred stock to have been participating securities as the holders were entitled to receive non-cumulative dividends on a pari passu basis in the event that a dividend had been paid on common stock. For further details on the Company’s historical participating securities, including warrants to purchase redeemable convertible preferred stock and common stock, refer to the Company’s 2018 Form 10-K, specifically in Part II, Item 8, Financial Statements and Supplementary Data under the Notes to Consolidated Financial Statements. Under the two-class method, basic net loss per share attributable to common stockholders was calculated by dividing the net loss by the weighted-average number of shares of common stock outstanding during the period, less shares subject to repurchase. The net loss attributable to common stockholders was not allocated to the redeemable convertible preferred stock as the holders of redeemable convertible preferred stock did not have a contractual obligation to share in losses. Diluted net loss per share attributable to common stockholders was computed by giving effect to all potentially dilutive common stock equivalents outstanding for the period. For purposes of this calculation, redeemable convertible preferred stock, stock options to purchase common stock, early exercised stock options, and warrants to purchase redeemable convertible preferred stock and common stock were considered common shares equivalents, but had been excluded from the calculation of diluted net loss per share attributable to common stockholders as their effect was 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 rights, including the liquidation and dividend rights, of the holders of Class A and Class B common stock are identical, except with respect to voting. Each share of Class A common stock is entitled to one vote per share and each share of Class B common stock is entitled to 10 votes per share. As the liquidation and dividend rights are identical for Class A and Class B common stock, the undistributed earnings are allocated on a proportionate basis and the resulting net loss per share will, therefore, be the same for both Class A and Class B common stock on an individual or combined basis. The following table sets forth the computation of basic and diluted net loss per share attributable to common stockholders (in thousands, except share and per share data): Three Months Ended April 30, 2018 2017 Numerator: Net loss $ (29,164 ) $ (19,690 ) Denominator: Weighted-average shares used to compute net loss per share, basic and diluted 50,350,052 13,164,559 Net loss per share, basic and diluted $ (0.58 ) $ (1.50 ) The following weighted-average outstanding potentially dilutive common shares were excluded from the computation of diluted net loss per share for the periods presented because the impact of including them would have been antidilutive: Three Months Ended April 30, 2018 2017 Redeemable convertible preferred stock (as converted) — 26,899,852 Redeemable convertible preferred stock warrants (as converted) — 54,604 Common stock warrants — 122,043 Stock options to purchase Class A common stock 3,539,338 910,513 Stock options to purchase Class B common stock 9,001,291 10,340,401 Early exercised stock options 234,646 128,609 |
Income Taxes
Income Taxes | 3 Months Ended |
Apr. 30, 2018 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | Income Taxes The Company recorded a provision for income taxes of $0.5 million and $0.2 million for the three months ended April 30, 2018 and 2017 , respectively. The provision for income taxes was primarily due to foreign taxes. [The provision for income taxes is based upon the estimated annual effective tax rates for the year applied to the current period income (loss) before tax plus the tax effect of any significant unusual items, discrete events or changes in tax law.] On December 22, 2017, the 2017 Tax Cuts and Jobs Act (the “Tax Act”) was enacted into law and the new legislation significantly revised the Internal Revenue Code of 1986, as amended. The newly enacted federal income tax law, among other things, contains significant changes to corporate taxation, including the reduction of the corporate tax rate from a top marginal rate of 35% to a flat rate of 21%, limitation of the deduction for newly generated net operating losses (“NOLs”) to 80% of current year taxable income and elimination of NOL carrybacks and one-time taxation of offshore earnings at reduced rates regardless of whether they are repatriated. The Company is required to recognize the effect of these significant tax law changes in the period of enactment. Also on December 22, 2017, the SEC staff issued Staff Accounting Bulletin No. 118, Income Tax Accounting Implications of the Tax Cuts and Jobs Act (“SAB 118”), which allows the Company to record provisional amounts during a measurement period not to extend beyond one year of the enactment date. Given the significant complexity of the Tax Act, anticipated guidance from the Internal Revenue Service about implementing the Tax Act, and the potential for additional guidance from the SEC or the FASB related to the Tax Act, the Company’s current estimates may be adjusted in future periods. The Company expects to complete its analysis within the measurement period in accordance with SAB 118. Any subsequent adjustments to current estimates will be recorded to tax expense during the quarter in the Company’s fiscal year ending January 31, 2019 in which the Company’s analysis of and accounting for the Tax Act is complete. The Company has not recorded any further adjustments during the three months ended April 30, 2018. For information on the Company’s initial provisional estimates recorded during the year ended January 31, 2018, refer to the Company’s 2018 Form 10-K, specifically Part II, Item 8, Financial Statements and Supplementary Data under Note 11, Income Taxes , in the Notes to Consolidated Financial Statements. For the Global Intangible Low-Taxed Income (“GILTI”) provisions of the Tax Act, the Company has not yet completed its assessment or elected an accounting policy to either recognize deferred taxes for basis differences expected to reverse as GILTI or to record GILTI as period costs if and when incurred. The Company assesses uncertain tax positions in accordance with ASC 740-10, Accounting for Uncertainties in Tax . As of April 30, 2018 , the Company’s net unrecognized tax benefits totaled $4.3 million , none of which would impact the Company’s effective tax rate if recognized. The Company anticipates that the amount of reasonably possible unrecognized tax benefits that could decrease over the next 12 months due to the expiration of certain statutes of limitations and settlement of tax audits is no t material to the Company’s interim unaudited condensed consolidated financial statements. |
Segments and Geographic Revenue
Segments and Geographic Revenue | 3 Months Ended |
Apr. 30, 2018 | |
Segment Reporting [Abstract] | |
Segments and Geographic Revenue | Segments and Geographic Revenue The Company operates its business as one operating segment as it only reports financial information on an aggregate and consolidated basis to the Chief Executive Officer, who is the Company’s chief operating decision maker. The following table sets forth the Company’s total revenue by geographic area based on the customers’ location (in thousands): Three Months Ended April 30, 2018 2017 Americas $ 31,275 $ 22,402 Europe, Middle East and Africa 14,400 8,929 Asia Pacific 2,547 1,059 Total $ 48,222 $ 32,390 Customers located in the United States accounted for 61% and 66% of total revenue for the three months ended April 30, 2018 and 2017 , respectively. Customers located in the United Kingdom accounted for 11% and 10% of total revenue for the three months ended April 30, 2018 and 2017 , respectively. No other country accounted for 10% or more of revenue for the periods presented. As of April 30, 2018 and January 31, 2018 , substantially all of the Company’s long-lived assets were located in the United States. |
Summary of Significant Accoun15
Summary of Significant Accounting Policies (Policies) | 3 Months Ended |
Apr. 30, 2018 | |
Accounting Policies [Abstract] | |
Basis of Presentation | The interim unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and include the accounts of the Company and its wholly owned subsidiaries. All intercompany transactions and accounts have been eliminated. Certain information and note disclosures normally included in the financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to the applicable rules and regulations of the Securities and Exchange Commission (“SEC”). Therefore, these interim unaudited condensed consolidated financial statements and accompanying footnotes should be read in conjunction with the Company’s annual consolidated financial statements and related footnotes included in its Annual Report on Form 10-K for the fiscal year ended January 31, 2018 (the “2018 Form 10-K”). |
Use of Estimates | The preparation of the interim unaudited condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenue and expenses during the reporting period. Such estimates include, but are not limited to, revenue recognition, allowances for doubtful accounts, stock-based compensation, legal contingencies, fair value of acquired intangible assets and goodwill, useful lives of acquired intangible assets and property and equipment, fair value of property and equipment and accounting for income taxes. The Company bases these estimates on historical and anticipated results, trends and various other assumptions that it believes are reasonable under the circumstances, including assumptions as to future events. Actual results could differ from those estimates. |
Emerging Growth Company Status | As an “emerging growth company” (“EGC”), the Jump-start Our Business Start-ups Act (“JOBS Act”), allows the Company to delay adoption of new or revised accounting pronouncements applicable to public companies until such pronouncements are made applicable to private companies. The Company has elected to use this extended transition period under the JOBS Act. As a result, the Company’s financial statements may not be comparable to the financial statements of issuers who are required to comply with the effective dates for new or revised accounting standards that are applicable to public companies, which may make the Company’s common stock less attractive to investors. |
Related Party Transactions | All contracts with related parties are executed in ordinary course of business. |
New Accounting Pronouncements Not Yet Adopted | Goodwill Impairment. In January 2017, the Financial Accounting Standards Board (“FASB”) issued ASU 2017-04— Intangibles—Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment. The new standard will simplify the measurement of goodwill by eliminating step two of the two-step impairment test. Step two measures a goodwill impairment loss by comparing the implied fair value of a reporting unit’s goodwill with the carrying amount of that goodwill. The new guidance requires an entity to compare the fair value of a reporting unit with its carrying amount and recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value. Additionally, an entity should consider income tax effects from any tax deductible goodwill on the carrying amount of the reporting unit when measuring the goodwill impairment loss, if applicable. The new guidance becomes effective for the Company for the fiscal year ending January 31, 2022, though early adoption is permitted. The Company does not expect the adoption of the new accounting standard to have a material impact on its consolidated financial statements. Leases. In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842), which modifies lease accounting for lessees to increase transparency and comparability by recording lease assets and liabilities for operating leases and disclosing key information about leasing arrangements. Depending on when the Company loses its EGC status, it may be required to adopt the new lease standard as early as its interim results for the period ending April 30, 2019, but no later than for its annual results for the fiscal year ending January 31, 2021, though early adoption is permitted. The Company is currently evaluating adoption methods and whether this standard will have a material impact on its consolidated financial statements. Revenue Recognition. In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606), which amends the existing accounting standard for revenue recognition. ASU 2014-09 is based on principles that govern the recognition of revenue at an amount to which an entity expects to be entitled when products are transferred to customers. Subsequently, the FASB has issued the following pronouncements related to ASU 2014-09: ASU No. 2016-08, Revenue from Contracts with Customers (Topic 606): Principal versus Agent Considerations ; ASU No. 2016-10, Revenue from Contracts with Customers (Topic 606): Identifying Performance Obligations and Licensing ; ASU No. 2016-12, Revenue from Contracts with Customers (Topic 606): Narrow-Scope Improvements and Practical Expedients ; and ASU 2016-20, Technical Corrections and Improvements to Topic 606 , which clarifies narrow aspects of ASC 606 or corrects unintended application of the guidance. The Company must adopt ASU 2016-08, ASU 2016-10, ASU 2016-12, and ASU 2016-20 with ASU 2014-09 (collectively, the “new revenue standard”). The Company plans to adopt the new revenue standard using the full retrospective transition method when it becomes effective for the Company. Depending on when the Company loses its EGC status, it may be required to adopt the new revenue standard as early as its annual results for the fiscal year ending January 31, 2019, but no later than for its annual results for the fiscal year ending January 31, 2020, though early adoption is permitted. While the Company continues to assess the potential impacts of the new revenue standard, the Company currently expects unearned subscription revenue to decline significantly upon adoption. Currently, as the Company’s subscription offerings include software term licenses and post-contract customer support for which the Company has not established vendor specific objective evidence (“VSOE”), the entire subscription fee is recognized ratably over the term of the contract. However, under the new revenue standard, the requirement for VSOE for undelivered elements is eliminated and, as a result, the Company is required to identify all deliverables in a contract and recognize revenue based on each deliverable separately. The Company currently expects that the portion related to the software term license deliverable will be recognized upon delivery, which may result in greater fluctuations in its consolidated financial statements. The Company is in the process of determining the revenue recognition impact for the other deliverables of each contract. The Company continues to evaluate the effect that the new revenue standard will have on its consolidated financial statements and related disclosures, and preliminary assessments are subject to change. |
Net Loss per Share | The Company calculates basic net loss per share by dividing the net loss by the weighted-average number of shares of common stock outstanding during the period, less shares subject to repurchase. Diluted net loss per share is computed by giving effect to all potentially dilutive common stock equivalents outstanding for the period, including stock options and restricted stock units. Prior to the Company’s closing of its initial public offering in October 2017, the Company calculated 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 considered all series of redeemable convertible preferred stock to have been participating securities as the holders were entitled to receive non-cumulative dividends on a pari passu basis in the event that a dividend had been paid on common stock. For further details on the Company’s historical participating securities, including warrants to purchase redeemable convertible preferred stock and common stock, refer to the Company’s 2018 Form 10-K, specifically in Part II, Item 8, Financial Statements and Supplementary Data under the Notes to Consolidated Financial Statements. Under the two-class method, basic net loss per share attributable to common stockholders was calculated by dividing the net loss by the weighted-average number of shares of common stock outstanding during the period, less shares subject to repurchase. The net loss attributable to common stockholders was not allocated to the redeemable convertible preferred stock as the holders of redeemable convertible preferred stock did not have a contractual obligation to share in losses. Diluted net loss per share attributable to common stockholders was computed by giving effect to all potentially dilutive common stock equivalents outstanding for the period. For purposes of this calculation, redeemable convertible preferred stock, stock options to purchase common stock, early exercised stock options, and warrants to purchase redeemable convertible preferred stock and common stock were considered common shares equivalents, but had been excluded from the calculation of diluted net loss per share attributable to common stockholders as their effect was 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 rights, including the liquidation and dividend rights, of the holders of Class A and Class B common stock are identical, except with respect to voting. Each share of Class A common stock is entitled to one vote per share and each share of Class B common stock is entitled to 10 votes per share. As the liquidation and dividend rights are identical for Class A and Class B common stock, the undistributed earnings are allocated on a proportionate basis and the resulting net loss per share will, therefore, be the same for both Class A and Class B common stock on an individual or combined basis. |
Income Taxes | The Company assesses uncertain tax positions in accordance with ASC 740-10, Accounting for Uncertainties in Tax . |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 3 Months Ended |
Apr. 30, 2018 | |
Fair Value Disclosures [Abstract] | |
Schedule of financial assets and liabilities measured at fair value on a recurring basis | The following tables present information about the Company’s financial assets and liabilities that have been measured at fair value on a recurring basis as of April 30, 2018 and January 31, 2018 , and indicate the fair value hierarchy of the valuation inputs utilized to determine such fair value (in thousands): Fair Value Measurement at April 30, 2018 Level 1 Level 2 Level 3 Total Financial Assets: Cash and cash equivalents: Money market funds $ 94,300 $ — $ — $ 94,300 Short-term investments: U.S. government treasury securities 159,371 — — 159,371 Total financial assets $ 253,671 $ — $ — $ 253,671 Fair Value Measurement at January 31, 2018 Level 1 Level 2 Level 3 Total Financial Assets: Cash and cash equivalents: Money market funds $ 45,918 $ — $ — $ 45,918 Short-term investments: U.S. government treasury securities 217,072 — — 217,072 Total financial assets $ 262,990 $ — $ — $ 262,990 |
Equity Incentive Plans and Em17
Equity Incentive Plans and Employee Stock Purchase Plan (Tables) | 3 Months Ended |
Apr. 30, 2018 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Schedule of stock option activity | The following table summarizes stock option activity for the three months ended April 30, 2018 (in thousands, except share and per share data and years): Shares Weighted- Weighted- Aggregate Balance - January 31, 2018 12,637,435 $ 7.63 7.72 $ 246,227 Stock options granted — — Stock options exercised (40,723 ) 6.36 Repurchase of early exercised shares — — Stock options forfeited and expired (123,781 ) 9.22 Balance - April 30, 2018 12,472,931 7.61 7.44 353,927 Vested and exercisable - January 31, 2018 5,540,858 6.33 6.63 115,122 Vested and exercisable - April 30, 2018 6,236,117 $ 6.46 6.51 $ 184,152 |
Schedule of restricted stock unit activity | The following table summarizes RSU activity for the three months ended April 30, 2018 : Shares Weighted-Average Grant Date Fair Value per RSU Unvested - January 31, 2018 245,746 $ 26.20 RSUs granted 1,050,660 39.52 RSUs vested (125 ) 28.87 RSUs forfeited and canceled — — Unvested - April 30, 2018 1,296,281 37.00 |
Schedule of stock-based compensation expense recognized in consolidated statements of operations | Total stock-based compensation expense recognized in the Company’s interim unaudited condensed consolidated statements of operations is as follows (in thousands): Three Months Ended April 30, 2018 2017 Cost of revenue—subscription $ 359 $ 151 Cost of revenue—services 184 72 Sales and marketing 2,218 1,215 Research and development 2,206 1,245 General and administrative 2,610 1,771 Total stock-based compensation expense $ 7,577 $ 4,454 |
Net Loss per Share (Tables)
Net Loss per Share (Tables) | 3 Months Ended |
Apr. 30, 2018 | |
Earnings Per Share [Abstract] | |
Schedule of basic and diluted earnings (loss) per share | The following table sets forth the computation of basic and diluted net loss per share attributable to common stockholders (in thousands, except share and per share data): Three Months Ended April 30, 2018 2017 Numerator: Net loss $ (29,164 ) $ (19,690 ) Denominator: Weighted-average shares used to compute net loss per share, basic and diluted 50,350,052 13,164,559 Net loss per share, basic and diluted $ (0.58 ) $ (1.50 ) |
Schedule of antidilutive securities excluded from computation of earnings per share | The following weighted-average outstanding potentially dilutive common shares were excluded from the computation of diluted net loss per share for the periods presented because the impact of including them would have been antidilutive: Three Months Ended April 30, 2018 2017 Redeemable convertible preferred stock (as converted) — 26,899,852 Redeemable convertible preferred stock warrants (as converted) — 54,604 Common stock warrants — 122,043 Stock options to purchase Class A common stock 3,539,338 910,513 Stock options to purchase Class B common stock 9,001,291 10,340,401 Early exercised stock options 234,646 128,609 |
Segments and Geographic Reven19
Segments and Geographic Revenue (Tables) | 3 Months Ended |
Apr. 30, 2018 | |
Segment Reporting [Abstract] | |
Schedule of total revenue by geographic areas | The following table sets forth the Company’s total revenue by geographic area based on the customers’ location (in thousands): Three Months Ended April 30, 2018 2017 Americas $ 31,275 $ 22,402 Europe, Middle East and Africa 14,400 8,929 Asia Pacific 2,547 1,059 Total $ 48,222 $ 32,390 |
Summary of Significant Accoun20
Summary of Significant Accounting Policies (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Apr. 30, 2018 | Apr. 30, 2017 | Jan. 31, 2018 | |
Accounting Policies [Abstract] | |||
Related party transactions | $ 0 | $ 0 | |
Amounts payable to or receivable from related parties | $ 0 | $ 0 |
Fair Value Measurements - Sched
Fair Value Measurements - Schedule of Financial Assets and Liabilities (Details) - Recurring - USD ($) $ in Thousands | Apr. 30, 2018 | Jan. 31, 2018 |
Short-term investments: | ||
Total financial assets | $ 253,671 | $ 262,990 |
Level 1 | ||
Short-term investments: | ||
Total financial assets | 253,671 | 262,990 |
Level 2 | ||
Short-term investments: | ||
Total financial assets | 0 | 0 |
Level 3 | ||
Short-term investments: | ||
Total financial assets | 0 | 0 |
U.S. government treasury securities | ||
Short-term investments: | ||
Short-term investments: | 159,371 | 217,072 |
U.S. government treasury securities | Level 1 | ||
Short-term investments: | ||
Short-term investments: | 159,371 | 217,072 |
U.S. government treasury securities | Level 2 | ||
Short-term investments: | ||
Short-term investments: | 0 | 0 |
U.S. government treasury securities | Level 3 | ||
Short-term investments: | ||
Short-term investments: | 0 | 0 |
Money Market Funds | ||
Cash and cash equivalents: | ||
Cash and cash equivalents: | 94,300 | 45,918 |
Money Market Funds | Level 1 | ||
Cash and cash equivalents: | ||
Cash and cash equivalents: | 94,300 | 45,918 |
Money Market Funds | Level 2 | ||
Cash and cash equivalents: | ||
Cash and cash equivalents: | 0 | 0 |
Money Market Funds | Level 3 | ||
Cash and cash equivalents: | ||
Cash and cash equivalents: | $ 0 | $ 0 |
Commitments and Contingencies (
Commitments and Contingencies (Details) - USD ($) | 3 Months Ended | ||
Apr. 30, 2018 | Apr. 30, 2017 | Jan. 31, 2018 | |
Commitments and Contingencies Disclosure [Abstract] | |||
Operating leases, rent expense | $ 3,100,000 | $ 2,100,000 | |
Accrual for contingencies | $ 0 | $ 0 |
Equity Incentive Plans and Em23
Equity Incentive Plans and Employee Stock Purchase Plan - Stock Options (Details) - Employee Stock Option | 3 Months Ended |
Apr. 30, 2018 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Award vesting period | 4 years |
One Year Anniversary | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Vesting rights percentage | 25.00% |
13 to 36 Months | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Vesting rights percentage | 75.00% |
Equity Incentive Plans and Em24
Equity Incentive Plans and Employee Stock Purchase Plan - Schedule of Stock Option Activity (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended |
Apr. 30, 2018 | Jan. 31, 2018 | |
Shares | ||
Balance - beginning of period (in shares) | 12,637,435 | |
Stock options granted (in shares) | 0 | |
Stock options exercised (in shares) | (40,723) | |
Repurchase of early exercised shares (in shares) | 0 | |
Stock options forfeited and expired (in shares) | (123,781) | |
Balance - end of period (in shares) | 12,472,931 | 12,637,435 |
Vested and exercisable (in shares) | 6,236,117 | 5,540,858 |
Weighted- Average Exercise Price Per Share | ||
Balance - beginning of period (in dollars per share) | $ 7.63 | |
Stock options granted (in dollars per share) | 0 | |
Stock options exercised (in dollars per share) | 6.36 | |
Stock options forfeited and expired (in dollars per share) | 9.22 | |
Balance - end of period (in dollars per share) | 7.61 | $ 7.63 |
Vested and exercisable (in dollars per share) | $ 6.46 | $ 6.33 |
Weighted- Average Remaining Contractual Term (In Years) | ||
Balance | 7 years 5 months 9 days | 7 years 8 months 19 days |
Vested and exercisable | 6 years 6 months 4 days | 6 years 7 months 17 days |
Aggregate Intrinsic Value | ||
Balance | $ 353,927 | $ 246,227 |
Vested and exercisable | $ 184,152 | $ 115,122 |
Equity Incentive Plans and Em25
Equity Incentive Plans and Employee Stock Purchase Plan - Restricted Stock Units, Additional Information (Details) - Restricted Stock Units (RSUs) | 3 Months Ended |
Apr. 30, 2018 | |
One Year Anniversary | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Award vesting period | 4 years |
Vesting rights percentage | 25.00% |
13 to 36 Months | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Vesting rights percentage | 75.00% |
Equity Incentive Plans and Em26
Equity Incentive Plans and Employee Stock Purchase Plan - Schedule of Restricted Stock Unit Activity (Details) - Restricted Stock Units (RSUs) - $ / shares | 3 Months Ended | |
Apr. 30, 2018 | Jan. 31, 2018 | |
Shares | ||
Unvested - beginning of period (in dollars per share) | 245,746 | |
RSUs granted (in shares) | 1,050,660 | |
RSUs vested (in shares) | (125) | |
RSUs forfeited and canceled (in shares) | 0 | |
Unvested - end of period (in dollars per share) | 1,296,281 | |
Weighted-Average Grant Date Fair Value per RSU | ||
Unvested (in dollars per share) | $ 37 | $ 26.20 |
RSUs granted (in dollars per share) | 39.52 | |
RSUs vested (in dollars per share) | 28.87 | |
RSUs forfeited and canceled (in dollars per share) | $ 0 |
Equity Incentive Plans and Em27
Equity Incentive Plans and Employee Stock Purchase Plan - Employee Stock Purchase Plan (Details) - shares | 1 Months Ended | 3 Months Ended |
Oct. 31, 2017 | Apr. 30, 2018 | |
Class A Common Stock | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Shares issued (in shares) | 0 | |
Employee Stock Purchase Plan | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Maximum employee contribution rate | 15.00% | |
Duration of separate offering periods | 6 months | |
Purchase price of common stock, as a percent | 85.00% | |
Employee Stock Purchase Plan | Class A Common Stock | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Reserved for future issuance (in shares) | 1,500,000 |
Equity Incentive Plans and Em28
Equity Incentive Plans and Employee Stock Purchase Plan - Stock-based Compensation Expense Recognized in Statement of Operations (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Apr. 30, 2018 | Apr. 30, 2017 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Total stock-based compensation expense | $ 7,577 | $ 4,454 |
Cost of revenue—subscription | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Total stock-based compensation expense | 359 | 151 |
Cost of revenue—services | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Total stock-based compensation expense | 184 | 72 |
Sales and marketing | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Total stock-based compensation expense | 2,218 | 1,215 |
Research and development | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Total stock-based compensation expense | 2,206 | 1,245 |
General and administrative | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Total stock-based compensation expense | $ 2,610 | $ 1,771 |
Net Loss per Share - Additional
Net Loss per Share - Additional Information (Details) | 3 Months Ended |
Apr. 30, 2018vote | |
Class A Common Stock | |
Class of Stock [Line Items] | |
Number of votes per share | 1 |
Class B Common Stock | |
Class of Stock [Line Items] | |
Number of votes per share | 10 |
Net Loss per Share - Schedule o
Net Loss per Share - Schedule of Basic and Diluted Earnings (Loss) Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | |
Apr. 30, 2018 | Apr. 30, 2017 | |
Earnings Per Share [Abstract] | ||
Net loss | $ (29,164) | $ (19,690) |
Weighted-average shares used to compute net loss per share, basic and diluted (in shares) | 50,350,052 | 13,164,559 |
Net loss per share, basic and diluted (in dollars per share) | $ (0.58) | $ (1.50) |
Net Loss per Share - Schedule31
Net Loss per Share - Schedule of Antidilutive Securities Excluded from the Computation of Diluted Net Loss per Share (Details) - shares | 3 Months Ended | |
Apr. 30, 2018 | Apr. 30, 2017 | |
Redeemable convertible preferred stock (as converted) | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Antidilutive securities excluded from computation of earnings per share (in shares) | 0 | 26,899,852 |
Redeemable convertible preferred stock warrants (as converted) | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Antidilutive securities excluded from computation of earnings per share (in shares) | 0 | 54,604 |
Common stock warrants | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Antidilutive securities excluded from computation of earnings per share (in shares) | 0 | 122,043 |
Stock options to purchase common stock | Class A Common Stock | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Antidilutive securities excluded from computation of earnings per share (in shares) | 3,539,338 | 910,513 |
Stock options to purchase common stock | Class B Common Stock | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Antidilutive securities excluded from computation of earnings per share (in shares) | 9,001,291 | 10,340,401 |
Early exercised stock options | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Antidilutive securities excluded from computation of earnings per share (in shares) | 234,646 | 128,609 |
Income Taxes (Details)
Income Taxes (Details) - USD ($) | 3 Months Ended | |
Apr. 30, 2018 | Apr. 30, 2017 | |
Income Tax Disclosure [Abstract] | ||
Provision for income taxes | $ 467,000 | $ 229,000 |
Unrecognized tax benefits | 4,300,000 | |
Unrecognized tax benefits that would impact effective tax rate | 0 | |
Decrease in unrecognized tax benefits is reasonably possible | $ 0 |
Segments and Geographic Reven33
Segments and Geographic Revenue - Additional Information (Details) - segment | 3 Months Ended | |
Apr. 30, 2018 | Apr. 30, 2017 | |
Segment Reporting [Abstract] | ||
Number of operating segments | 1 | |
Geographic Concentration Risk | Revenue, Net | United States | ||
Concentration Risk [Line Items] | ||
Concentration risk, percentage | 61.00% | 66.00% |
Geographic Concentration Risk | Revenue, Net | United Kingdom | ||
Concentration Risk [Line Items] | ||
Concentration risk, percentage | 11.00% | 10.00% |
Segments and Geographic Reven34
Segments and Geographic Revenue - Schedule of total revenue by geographic areas (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Apr. 30, 2018 | Apr. 30, 2017 | |
Revenues from External Customers and Long-Lived Assets [Line Items] | ||
Total | $ 48,222 | $ 32,390 |
Americas | ||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||
Total | 31,275 | 22,402 |
Europe, Middle East and Africa | ||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||
Total | 14,400 | 8,929 |
Asia Pacific | ||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||
Total | $ 2,547 | $ 1,059 |
Uncategorized Items - mdb-20180
Label | Element | Value |
Restricted Cash, Current | us-gaap_RestrictedCashCurrent | $ 109,000 |
Restricted Cash, Current | us-gaap_RestrictedCashCurrent | $ 522,000 |