Document_and_Entity_Informatio
Document and Entity Information | 9 Months Ended | |
Dec. 31, 2014 | Feb. 12, 2015 | |
Document And Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | FALSE | |
Document Period End Date | 31-Dec-14 | |
Document Fiscal Year Focus | 2015 | |
Document Fiscal Period Focus | Q3 | |
Trading Symbol | NEWR | |
Entity Registrant Name | NEW RELIC INC | |
Entity Central Index Key | 1448056 | |
Current Fiscal Year End Date | -28 | |
Entity Filer Category | Non-accelerated Filer | |
Entity Common Stock, Shares Outstanding | 47,052,100 |
Condensed_Consolidated_Balance
Condensed Consolidated Balance Sheets (USD $) | Dec. 31, 2014 | Mar. 31, 2014 |
In Thousands, unless otherwise specified | ||
Current assets: | ||
Cash and cash equivalents | $167,740 | $19,453 |
Short-term investments | 37,045 | |
Accounts receivable, net of allowance for doubtful accounts of $246 and $84, respectively | 12,057 | 5,532 |
Prepaid expenses and other current assets | 4,068 | 2,491 |
Total current assets | 220,910 | 27,476 |
Property and equipment, net | 33,782 | 20,183 |
Restricted cash | 5,626 | 5,601 |
Goodwill and intangible assets, net | 4,606 | |
Other assets | 636 | 1,948 |
Total assets | 265,560 | 55,208 |
Current liabilities: | ||
Accounts payable | 3,814 | 4,109 |
Accrued compensation and benefits | 5,180 | 2,822 |
Other current liabilities | 3,189 | 2,160 |
Deferred revenue | 23,458 | 10,359 |
Total current liabilities | 35,641 | 19,450 |
Deferred rent, non-current | 4,455 | 3,606 |
Other liabilities, non-current | 592 | 900 |
Total liabilities | 40,688 | 23,956 |
Commitments and contingencies (Note 6) | ||
Convertible preferred stock: | ||
Convertible preferred stock, $0.001 par value; 10,000 shares and 22,323 shares authorized at December 31, 2014 and March 31, 2014; no shares and 21,357 shares issued and outstanding at December 31, 2014 and March 31, 2014; | 95,917 | |
Stockholders' equity (deficit): | ||
Common stock, $0.001 par value; 100,000 and 49,000 shares authorized at December 31, 2014 and March 31, 2014; 47,251 shares and 16,063 shares issued at December 31, 2014 and March 31, 2014; and 46,991 shares and 15,803 shares outstanding at December 31, 2014 and March 31, 2014; | 47 | 16 |
Treasury stock - at cost (260 shares) | -263 | -263 |
Additional paid-in capital | 341,915 | 17,033 |
Accumulated other comprehensive loss | -52 | |
Accumulated deficit | -116,775 | -81,451 |
Total stockholders' equity (deficit) | 224,872 | -64,665 |
Total liabilities, convertible preferred stock and stockholders' equity (deficit) | $265,560 | $55,208 |
Condensed_Consolidated_Balance1
Condensed Consolidated Balance Sheets (Parenthetical) (USD $) | Dec. 31, 2014 | Mar. 31, 2014 |
In Thousands, except Per Share data, unless otherwise specified | ||
Statement of Financial Position [Abstract] | ||
Accounts receivable, allowance for doubtful accounts | $246 | $84 |
Convertible preferred stock, par value | $0.00 | $0.00 |
Convertible preferred stock, shares authorized | 10,000 | 22,323 |
Convertible preferred stock, shares issued | 0 | 21,357 |
Convertible preferred stock, shares outstanding | 0 | 21,357 |
Common stock, par value | $0.00 | $0.00 |
Common stock, shares authorized | 100,000 | 49,000 |
Common stock, shares issued | 47,251 | 16,063 |
Common stock, shares outstanding | 46,991 | 15,803 |
Treasury stock, shares | 260 | 260 |
Condensed_Consolidated_Stateme
Condensed Consolidated Statements of Operations (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 |
Income Statement [Abstract] | ||||
Revenue | $29,029 | $17,185 | $77,003 | $43,331 |
Cost of revenue | 5,940 | 2,935 | 15,001 | 7,402 |
Gross profit | 23,089 | 14,250 | 62,002 | 35,929 |
Operating expenses: | ||||
Research and development | 6,410 | 4,478 | 16,659 | 12,212 |
Sales and marketing | 25,460 | 17,084 | 63,094 | 42,091 |
General and administrative | 6,864 | 4,396 | 17,464 | 11,557 |
Total operating expenses | 38,734 | 25,958 | 97,217 | 65,860 |
Loss from operations | -15,645 | -11,708 | -35,215 | -29,931 |
Other income (expense): | ||||
Interest income | 47 | 3 | 65 | 13 |
Interest expense | -54 | -15 | -83 | -49 |
Other (expense), net | -381 | -181 | -195 | -503 |
Loss before income taxes | -16,033 | -11,901 | -35,428 | -30,470 |
Benefit from income taxes | -104 | -104 | ||
Net loss | ($15,929) | ($11,901) | ($35,324) | ($30,470) |
Net loss per share attributable to common stockholders, basic and diluted | ($0.70) | ($0.76) | ($1.94) | ($1.96) |
Weighted-average shares used to compute net loss per share attributable to common stockholders, basic and diluted | 22,847 | 15,626 | 18,182 | 15,561 |
Condensed_Consolidated_Stateme1
Condensed Consolidated Statements of Comprehensive Loss (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 |
Statement of Comprehensive Income [Abstract] | ||||
Net loss | ($15,929) | ($11,901) | ($35,324) | ($30,470) |
Other comprehensive loss: | ||||
Unrealized losses on available-for-sale securities, net of tax | -52 | -52 | ||
Comprehensive loss attributable to common shareholders' | ($15,981) | ($11,901) | ($35,376) | ($30,470) |
Condensed_Consolidated_Stateme2
Condensed Consolidated Statements of Cash Flows (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Cash flows from operating activities: | ||
Net loss: | ($35,324) | ($30,470) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Depreciation and amortization | 6,089 | 3,133 |
Stock-based compensation expense | 7,592 | 4,724 |
Deferred tax | -125 | |
Change in fair value of preferred stock warrant liability | 82 | 488 |
Other | 251 | 182 |
Changes in operating assets and liabilities, net of acquisition of business: | ||
Accounts receivable | -6,754 | -3,165 |
Prepaid expenses and other assets | -1,443 | -338 |
Accounts payable | -777 | 821 |
Accrued compensation and benefits and other liabilities | 2,936 | 1,170 |
Deferred revenue | 13,273 | 4,402 |
Deferred rent | 771 | 1,324 |
Net cash used in operating activities: | -13,429 | -17,729 |
Cash flows from investing activities: | ||
Purchases of property and equipment | -10,628 | -8,326 |
Acquisition of Few Ducks, S.L., net of cash acquired | -2,262 | |
Increase in restricted cash | -25 | -1,268 |
Purchases of short-term investments | -37,189 | |
Capitalized software development costs | -6,667 | -3,476 |
Net cash used in investing activities | -56,771 | -13,070 |
Cash flows from financing activities: | ||
Proceeds from issuances of preferred stock, net of issuance costs | 97,243 | |
Proceeds from initial public offering, net of issuance costs | 120,601 | |
Principal payments on debt | -271 | |
Proceeds from issuance of common stock | 914 | 201 |
Net cash provided by financing activities | 218,487 | 201 |
Net increase (decrease) in cash and cash equivalents | 148,287 | -30,598 |
Cash and cash equivalents, beginning of period | 19,453 | 57,099 |
Cash and cash equivalents, end of period | 167,740 | 26,501 |
Supplemental disclosure of cash flow information: | ||
Cash paid for interest | 91 | 52 |
Noncash investing and financing activities: | ||
Issuance of common stock for the acquisition of Few Ducks, S.L. | 1,826 | |
Conversion of preferred stock warrants to common stock warrants | 631 | |
Net exercise of preferred stock warrants in connection with the initial public offering | 280 | |
Property and equipment purchased but not paid yet | 1,052 | 298 |
Accrued initial public offering costs | $677 |
Description_of_Business_and_Su
Description of Business and Summary of Significant Accounting Policies | 9 Months Ended | |
Dec. 31, 2014 | ||
Accounting Policies [Abstract] | ||
Description of Business and Summary of Significant Accounting Policies | 1 | Description of Business and Summary of Significant Accounting Policies |
Description of Business—New Relic, Inc. (the “Company” or “New Relic”) was incorporated in Delaware on February 20, 2008. The Company is a software-as-a-service provider of software analytics products which allow users to monitor software performance with .NET, Java, JavaScript, Node.js, PHP, Python, and Ruby applications deployed in a cloud or in a data center. New Relic’s software analytics products enable developers and operation teams to monitor, troubleshoot, and optimize their applications. | ||
Basis of Presentation—These unaudited condensed consolidated financial statements have been prepared in accordance with United States generally accepted accounting principles, or GAAP, and applicable rules and regulations of the Securities and Exchange Commission, or SEC, regarding interim financial reporting. Certain information and note disclosures normally included in the financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. Therefore, these condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes included in our final prospectus filed with the SEC on December 12, 2014 pursuant to Rule 424(b) of the Securities Act of 1933, as amended, relating to our Registration Statement on Form S-1 (File No. 333-200078). There have been no changes to our significant accounting policies described in the prospectus that have had a material impact on our condensed consolidated financial statements and related notes. | ||
The unaudited condensed consolidated financial statements reflect all normal recurring adjustments necessary to present fairly the financial position, results of operations, our comprehensive loss and cash flows for the interim periods, but are not necessarily indicative of the results of operations to be anticipated for the full fiscal year ending March 31, 2015. The condensed consolidated balance sheet as of March 31, 2014 included herein was derived from the audited financial statements as of that date. | ||
Initial Public Offering—In December 2014, we completed our initial public offering, or IPO, in which we issued and sold 5,750,000 million shares of common stock at a public offering price of $23.00 per share. We received aggregate proceeds of approximately $123.0 million from the sale of shares of common stock, net of underwriters’ discounts and commissions, but before deducting paid and unpaid offering expenses of approximately $3.1 million. | ||
The sale of common stock in the IPO triggered the weighted average anti-dilution provisions set forth in the Company’s amended and restated certificate of incorporation. At the IPO price of $23.00 per share, the per share conversion rate for the Company’s Series F convertible preferred stock into common stock was approximately 1:1.02. The conversion rate for the Company’s Series A, Series B, Series C, Series D, and Series E convertible preferred stock was 1:1. As a result of the IPO, the 24,813,343 shares of the Company’s convertible preferred stock outstanding automatically converted into 24,885,778 shares of the Company’s common stock. | ||
Use of Estimates—The preparation of the Company’s condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of income and expenses during the reporting period. These estimates are based on information available as of the date of the condensed consolidated financial statements; therefore, actual results could differ from management’s estimates. | ||
Concentration of Risk—At December 31, 2014, and March 31, 2014, there was no customer that represented more than 10% of our accounts receivable balance. There were no customers that individually exceeded 10% of our revenue during the three and nine months ended December 31, 2014. | ||
Short-term Investments—Short-term investments consist of money market funds, commercial paper, U.S. treasury securities, U.S. agency securities, corporate debt securities, and asset-back securities and are classified as available-for-sale securities. The Company has classified its investments as current based on the nature of the investments and their availability for use in current operations. Available-for-sale securities are carried at fair value with unrealized gains and losses reported as a component of accumulated other comprehensive loss, while realized gains and losses and other-than-temporary impairments are reported within the statement of operations. For the periods presented, realized and unrealized gains and losses on investments were not material. An impairment charge is recorded in the consolidated statements of operations for declines in fair value below the cost of an individual investment that are deemed to be other than temporary. The Company assesses whether a decline in value is temporary based on the length of time that the fair market value has been below cost, the severity of the decline and the intent and ability to hold or sell the investment. The Company did not identify any marketable securities as other-than-temporarily impaired as of December 31, 2014. The Company did not have marketable securities as of March 31, 2014. | ||
Business Combinations—The Company recognizes identifiable assets acquired and liabilities assumed at their acquisition date fair value. Goodwill as of the acquisition date is measured as the excess of consideration transferred over the net of the acquisition date fair values of the assets acquired and the liabilities assumed. While we use our best estimates and assumptions as a part of the purchase price allocation process to accurately value assets acquired and liabilities assumed at the acquisition date, our estimates are inherently uncertain and subject to refinement. As a result, during the measurement period, which may be up to one year from the acquisition date, we record adjustments to the assets acquired and liabilities assumed, with the corresponding offset to goodwill to the extent that we identify adjustments to the preliminary purchase price allocation. Upon the conclusion of the measurement period or final determination of the values of assets acquired or liabilities assumed, whichever comes first, any subsequent adjustments are recorded to our consolidated statements of operations. | ||
Goodwill—Goodwill represents the excess of the purchase price of an acquired business over the fair value of the underlying net tangible and intangible assets. Goodwill is evaluated for impairment annually in the third quarter of the Company’s fiscal year, and whenever events or changes in circumstances indicate the carrying value of goodwill may not be recoverable. Triggering events that may indicate impairment include, but are not limited to, a significant adverse change in customer demand or business climate that could affect the value of goodwill or a significant decrease in expected cash flows. Since inception through December 31, 2014, the Company did not have any goodwill impairment. | ||
Intangible Assets—Intangible assets consist of identifiable intangible assets, primarily developed technology, resulting from the Company’s acquisitions. Acquired intangible assets are recorded at cost, net of accumulated amortization. Intangible assets are amortized on a straight-line basis over their estimated useful lives. | ||
Recent Accounting Pronouncements—In May 2014, the Financial Accounting Standards Board (“FASB”) issued new guidance related to the recognition and reporting of revenue that establishes a comprehensive new revenue recognition model designed to depict the transfer of goods or services to a customer in an amount that reflects the consideration the entity expects to receive in exchange for those goods or services. The guidance allows for the use of either the full or modified retrospective transition method, and the standard will be effective for the Company in our fiscal year beginning April 1, 2017; early adoption is not permitted. The Company is currently evaluating the impact of this new standard on its condensed consolidated financial statements, as well as which transition method the Company intends to use. |
Business_Combination
Business Combination | 9 Months Ended | |
Dec. 31, 2014 | ||
Business Combinations [Abstract] | ||
Business Combination | 2 | Business Combination |
On October 6, 2014, the Company completed the acquisition of Few Ducks, S.L., (“Ducksboard”), a provider of real-time dashboards for tracking business metrics from a broad set of application sources, pursuant to which the Company acquired all of the capital stock of Ducksboard for 121,493 shares of the Company’s common stock, of which 108,234 shares have been issued and up to 13,259 shares will be released on the twelve month anniversary of the closing date, and $2.3 million in cash resulting in an aggregate preliminary purchase price of $4.2 million. Of the total purchase price, $2.1 million was allocated to goodwill, $2.8 million to identifiable intangible assets, and $0.7 million to net liabilities assumed. The addition of the Ducksboard technology complements the Company’s visualization expertise and will readily expand the sources of data that are available to customers via the Company’s Software Analytics data cloud. The Company accounted for the acquisition of Ducksboard as a purchase of a business. Goodwill generated from the acquisition is attributable to expected synergies from future growth and potential future monetization opportunities, and is not deductible for tax purposes. Pro forma revenue and results of operations have not been presented because the historical results of Ducksboard were not material to our condensed consolidated financial statements in any period presented. | ||
In connection with the acquisition, the Company may also issue 128,507 shares of its common stock to certain employees of Ducksboard, contingent upon their continuous employment with the Company. As such, compensation expense will be recorded ratably over the respective service period. |
Fair_Value_Measurements
Fair Value Measurements | 9 Months Ended | ||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||
Fair Value Disclosures [Abstract] | |||||||||||||||||
Fair Value Measurements | 3 | Fair Value Measurements | |||||||||||||||
The following tables present information about our financial assets measured at fair value on a recurring basis as of December 31, 2014 and March 31, 2014 based on the three-tier fair value hierarchy (in thousands): | |||||||||||||||||
Fair Value Measurements as of | |||||||||||||||||
December 31, 2014 | |||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
Description: | |||||||||||||||||
Money market funds | $ | 91,311 | $ | — | $ | — | $ | 91,311 | |||||||||
Commercial paper | — | 14,126 | — | 14,126 | |||||||||||||
Corporate notes and bonds | — | 16,972 | — | 16,972 | |||||||||||||
U.S. treasury securities | 499 | — | — | 499 | |||||||||||||
U.S. government agencies | — | 3,499 | — | 3,499 | |||||||||||||
Asset-backed securities | — | 4,499 | — | 4,499 | |||||||||||||
Restricted cash - money market funds | 5,626 | — | — | 5,626 | |||||||||||||
Total | $ | 97,436 | $ | 39,096 | $ | — | $ | 136,532 | |||||||||
Included in cash and cash equivalents | $ | 93,861 | |||||||||||||||
Included in short-term investments | $ | 37,045 | |||||||||||||||
Included in restricted cash | $ | 5,626 | |||||||||||||||
Fair Value Measurements as of | |||||||||||||||||
31-Mar-14 | |||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
Description: | |||||||||||||||||
Money market funds | $ | 3,512 | $ | — | $ | — | $ | 3,512 | |||||||||
Restricted cash - money market funds | 5,601 | — | — | 5,601 | |||||||||||||
Total | $ | 9,113 | $ | — | $ | — | $ | 9,113 | |||||||||
Convertible preferred stock warrant liability | $ | — | $ | — | $ | 830 | $ | 830 | |||||||||
Included in cash and cash equivalents | $ | 3,512 | |||||||||||||||
Included in restricted cash | $ | 5,601 | |||||||||||||||
Included in other liabilities, non-current | $ | 830 | |||||||||||||||
Level 3 instruments consist solely of the Company’s preferred stock warrant liability. Prior to the Company’s IPO, outstanding warrants to purchase shares of the Company’s Series A and Series D convertible preferred stock were classified as other liabilities. The initial liability recorded was adjusted for changes in the fair values of the Company’s preferred stock warrants during each reporting period and was recorded as a component of other (expense) income, net in the statement of operations. | |||||||||||||||||
Upon the closing of the Company’s IPO and the conversion of the underlying preferred stock to common stock, the Company’s warrants to purchase shares of Series A convertible preferred stock were converted into warrants to purchase shares of the Company’s common stock. The aggregate fair value of these warrants upon the closing of the IPO was $0.6 million which was reclassified from liabilities to additional paid-in capital, a component of stockholders’ equity (deficit), and the Company ceased recording any further related periodic fair value adjustments. The warrant to purchase shares of the Company’s Series D convertible preferred stock was automatically net exercised for an aggregate of 12,193 shares of common stock upon closing of the Company’s IPO in December 2014. The Company estimated the fair values of these warrants using the Black-Scholes option-pricing model, based on the inputs for the estimated fair value of the underlying convertible preferred stock at the valuation measurement date, the remaining contractual term of the warrant, risk-free interest rates, expected dividend rates and expected volatility of the price of the underlying convertible preferred stock. These estimates were based on subjective assumptions. | |||||||||||||||||
The following table sets forth a summary of the changes in the fair value of the Company’s Level 3 financial instruments as follows (in thousands): | |||||||||||||||||
Preferred Stock | |||||||||||||||||
Warrant | |||||||||||||||||
Liability | |||||||||||||||||
Balance at March 31, 2014 | $ | 830 | |||||||||||||||
Change in fair value of preferred stock warrant liability | 82 | ||||||||||||||||
Reclassification of preferred stock warrant liabilities to additional paid-in capital in conjunction with the conversion of the convertible preferred stock into common stock upon the closing of the Company’s IPO | (912 | ) | |||||||||||||||
Balance at December 31, 2014 | $ | — | |||||||||||||||
Gross unrealized gains or losses for cash equivalents and available-for-sale marketable securities as of December 31, 2014 and March 31, 2014 were not material. As of December 31, 2014 and March 31, 2014, there were no securities that were in an unrealized loss position for more than 12 months. | |||||||||||||||||
The following table classifies our available-for-sale short-term investments by contractual maturities as of December 31, 2014 and March 31, 2014 (in thousands): | |||||||||||||||||
December 31, | March 31, | ||||||||||||||||
2014 | 2014 | ||||||||||||||||
Due in one year | $ | 17,487 | $ | — | |||||||||||||
Due in one to three years | 19,558 | — | |||||||||||||||
Total | $ | 37,045 | $ | — | |||||||||||||
For certain other financial instruments, including accounts receivable, accounts payable and other current liabilities, the carrying amounts approximate their fair value due to the relatively short maturity of these balances. Based on borrowing rates available to us for loans with similar terms and maturities, the carrying value of borrowings approximates fair value or Level 2 within the fair value hierarchy. | |||||||||||||||||
There were no transfers between fair value measurement levels during the three and nine months ended December 31, 2014. |
Property_and_Equipment
Property and Equipment | 9 Months Ended | ||||||||
Dec. 31, 2014 | |||||||||
Property, Plant and Equipment [Abstract] | |||||||||
Property and Equipment | 4 | Property and Equipment | |||||||
Property and equipment, net, consisted of the following (in thousands): | |||||||||
December 31, | March 31, | ||||||||
2014 | 2014 | ||||||||
Computers, software, and equipment | $ | 2,752 | $ | 1,983 | |||||
Site operation equipment | 6,099 | 2,535 | |||||||
Furniture and fixtures | 753 | 494 | |||||||
Leasehold improvements | 19,674 | 12,355 | |||||||
Capitalized software development costs | 18,663 | 11,444 | |||||||
Total property and equipment | 47,941 | 28,811 | |||||||
Less: accumulated depreciation and amortization | (14,159 | ) | (8,628 | ) | |||||
Total property and equipment, net | $ | 33,782 | $ | 20,183 | |||||
Depreciation and amortization expense related to property and equipment was $2.4 million and $1.2 million for the three months ended December 31, 2014 and 2013, respectively, and $5.9 million and $3.1 million for the nine months ended December 31, 2014 and 2013, respectively. |
Goodwill_and_Purchased_Intangi
Goodwill and Purchased Intangibles Assets | 9 Months Ended | ||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | |||||||||||||||||
Goodwill and Purchased Intangibles Assets | 5 | Goodwill and Purchased Intangibles Assets | |||||||||||||||
The changes in the carrying amount of goodwill for the nine months ended December 31, 2014 are as follows (in thousands): | |||||||||||||||||
Goodwill as of March 31, 2014 | $ | — | |||||||||||||||
Goodwill acquired | 2,053 | ||||||||||||||||
Goodwill as of December 31, 2014 | $ | 2,053 | |||||||||||||||
Purchased intangible assets subject to amortization as of December 31, 2014 consist of the following (in thousands). No purchased intangible assets were recorded as of March 31, 2014. | |||||||||||||||||
Gross Carrying | Accumulated | Net Carrying | Remaining | ||||||||||||||
Amount | Amortization | Amount | Useful Life | ||||||||||||||
(In years) | |||||||||||||||||
Developed technology | $ | 2,400 | $ | (198 | ) | $ | 2,202 | 2.75 | |||||||||
Customer relationships | 100 | (12 | ) | 88 | 1.75 | ||||||||||||
Other intangible assets | 300 | (37 | ) | 263 | 1.75 | ||||||||||||
$ | 2,800 | $ | (247 | ) | $ | 2,553 | |||||||||||
Amortization expense of purchased intangible assets for the three and nine months ended December 31, 2014 was $0.2 million and $0.2 million, respectively. No amortization expense was recorded for the three and nine months ended December 31, 2013. | |||||||||||||||||
Estimated future amortization expense as of December 31, 2014 is as follows (in thousands): | |||||||||||||||||
2015 (remaining 3 months) | $ | 250 | |||||||||||||||
2016 | 1,000 | ||||||||||||||||
2017 | 900 | ||||||||||||||||
2018 | 403 | ||||||||||||||||
2019 and thereafter | — | ||||||||||||||||
$ | 2,553 | ||||||||||||||||
Commitments_and_Contingencies
Commitments and Contingencies | 9 Months Ended | ||||
Dec. 31, 2014 | |||||
Commitments and Contingencies Disclosure [Abstract] | |||||
Commitments and Contingencies | 6 | Commitments and Contingencies | |||
Leases —The Company leases office space under non-cancelable operating lease agreements, which expire from 2015 through 2023. | |||||
Deferred Rent—Certain of the Company’s operating leases contain rent holidays, allowances, and rent escalation provisions. For these leases, the Company recognizes the related rental expense on a straight-line basis over the life of the lease from the date the Company takes possession of the office and records the difference between amounts charged to operations and amounts paid as deferred rent. These rent holidays, allowances, and rent escalations are considered in determining the straight-line expense to be recorded over the lease term. As of December 31, 2014 and March 31, 2014, $4.7 million and $3.9 million, respectively, was recorded as deferred rent. | |||||
Rent expense, net of sublease income, for operating leases was $1.3 million and $1.3 million for the three months ended December 31, 2014 and 2013, respectively, and $3.9 million and $3.4 million for the nine months ended December 31, 2014 and 2013, respectively. | |||||
Future minimum lease payments under non-cancelable operating leases as of December 31, 2014, were as follows (in thousands): | |||||
Operating Leases | |||||
2015 (remaining 3 months) | $ | 1,362 | |||
2016 | 5,741 | ||||
2017 | 6,267 | ||||
2018 | 6,495 | ||||
2019 | 6,629 | ||||
Thereafter | 14,946 | ||||
Total minimum future lease payments | $ | 41,440 | |||
Purchase Commitments—As of December 31, 2014 and March 31, 2014, the Company had purchase commitments of $2.9 million and $0.6 million, respectively, for specific contractual services. | |||||
Legal Proceedings—From time to time, the Company may become involved in various legal proceedings in the ordinary course of its business, and may be subject to third-party infringement claims. | |||||
On November 5, 2012, CA, Inc. filed suit against the Company in the United States District Court, Eastern District of New York for alleged patent infringement. CA, Inc.’s complaint against the Company claims that certain aspects of the Company’s products infringe certain patents held by CA, Inc. The Company cannot at this time predict the likely outcome of this proceeding or estimate the amount or range of loss or possible loss that may arise from it. The Company has not accrued any loss related to the outcome of this case as of December 31, 2014. | |||||
In the normal course of business, the Company may agree to indemnify third parties with whom it enters into contractual relationships, including customers, lessors, and parties to other transactions with the Company, with respect to certain matters. The Company has agreed, under certain conditions, to hold these third parties harmless against specified losses, such as those arising from a breach of representations or covenants, other third-party claims that the Company’s products when used for their intended purposes infringe the intellectual property rights of such other third parties, or other claims made against certain parties. To date, the Company has not incurred any costs as a result of such obligations and has not accrued any liabilities related to such obligations in the condensed consolidated financial statements. In addition, the Company indemnifies its officers, directors, and certain key employees while they are serving in good faith in their respective capacities. The Company does not currently believe there is a reasonable possibility that a loss may have been incurred under these indemnification obligations. To date, there have been no claims under any such indemnification provisions. |
Common_Stock_and_Stockholders_
Common Stock and Stockholders' Equity (Deficit) | 9 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||||||
Equity [Abstract] | |||||||||||||||||||||||||
Common Stock and Stockholders' Equity (Deficit) | 7 | Common Stock and Stockholders’ Equity (Deficit) | |||||||||||||||||||||||
Convertible preferred stock — Upon the completion of the IPO, all outstanding convertible preferred stock was converted into 24,885,778 shares of common stock and the Company’s certificate of incorporation was amended and restated to authorize the Company to issue 10,000,000 shares of preferred stock with a par value of $0.001 per share. | |||||||||||||||||||||||||
Common stock authorized — Upon the completion of the IPO, the Company’s certificate of incorporation was amended and restated to increase the amount of common stock authorized for issuance from 55,000,000 to 100,000,000 common shares with a par value of $0.001 per share. | |||||||||||||||||||||||||
Employee Stock Purchase Plan — The Company’s board of directors adopted, and the Company’s stockholders approved, the Company’s 2014 Employee Stock Purchase Plan, or ESPP, which became effective in December 2014. The ESPP initially reserved and authorized the issuance of up to 1,000,000 shares of common stock. The ESPP provides that the number of shares reserved and available for issuance under the ESPP will automatically increase each April, beginning on April 1, 2015, by the lesser of 500,000 shares, 1% of the number of the Company’s common stock shares issued and outstanding on the immediately preceding March 31, or such lesser number of shares as determined the Company’s board of directors. | |||||||||||||||||||||||||
2008 Equity Incentive Plan — The Company’s board of directors adopted the 2008 Equity Incentive Plan, or the 2008 Plan, in February 2008. The 2008 Equity Incentive Plan was terminated in connection with our IPO, and accordingly, no shares are available for future issuance under this plan. The 2008 Equity Incentive Plan continues to govern outstanding awards granted thereunder. | |||||||||||||||||||||||||
2014 Equity Incentive Plan — The Company’s board of directors adopted, and the Company’s stockholders approved, the Company’s 2014 Equity Incentive Plan, or the 2014 Plan, which became effective in December 2014. The 2014 Plan serves as the successor to our 2008 Plan. The 2014 Plan initially reserved and authorized the issuance of 5,000,000 shares of our common stock. Additionally, shares not issued or subject to outstanding grants under the 2008 Plan became available under the 2014 Plan, resulting in a total of 5,184,878 available shares under the 2014 Plan as of the effective date of the 2014 Plan. Pursuant to the terms of the 2014 Plan, any shares subject to outstanding stock options or other stock awards under the 2008 Plan that (i) expire or terminate for any reason prior to exercise or settlement, (ii) are forfeited because of the failure to meet a contingency or condition required to vest such shares or otherwise return to the Company or (iii) are reacquired, withheld (or not issued) to satisfy a tax withholding obligation in connection with an award or to satisfy the purchase price or exercise price of a stock award) will become available for issuance pursuant to awards granted under the 2014 Plan. The 2014 Plan provides that the number of shares reserved and available for issuance under the plan will automatically increase each April 1, beginning on April 1, 2015, by 5% of the outstanding number of shares of the Company’s common stock shares issued and outstanding on the immediately preceding March 31, or such lesser number of shares as determined by the Company board of directors. As of December 31, 2014, there were 5,207,555 shares available for issuance under the 2014 Plan. | |||||||||||||||||||||||||
The following table summarizes our stock option and RSU award activities for the nine months ended December 31, 2014 (in thousands, except per share information): | |||||||||||||||||||||||||
Options Outstanding | RSU Outstanding | ||||||||||||||||||||||||
Weighted-Average | Weighted- | ||||||||||||||||||||||||
Average | |||||||||||||||||||||||||
Number | Weighted-Average | Remaining | Aggregate | Outstanding | Grant Date | ||||||||||||||||||||
Contractual | Intrinsic | ||||||||||||||||||||||||
of Shares | Exercise Price | Term (in years) | Value | RSUs | Fair Value | ||||||||||||||||||||
Outstanding - April 1, 2014 | 6,923 | $ | 4.86 | — | $ | — | |||||||||||||||||||
Stock options granted | 3,486 | 18.66 | — | — | |||||||||||||||||||||
RSU granted | — | — | 672 | 23 | |||||||||||||||||||||
Stock options exercised | (392 | ) | 2.33 | — | — | ||||||||||||||||||||
Stock options canceled/forfeited | (501 | ) | 9.15 | — | — | ||||||||||||||||||||
RSU canceled/forfeited | — | — | (3 | ) | 23 | ||||||||||||||||||||
Outstanding -December 31, 2014 | 9,516 | $ | 9.8 | 8.2 | $ | 238,251 | 669 | $ | 23 | ||||||||||||||||
Restricted Stock Awards—During the nine months ended December 31, 2014 and 2013, the Company granted restricted stock awards covering an aggregate of 40,000 and 100,000 shares of common stock, respectively, to two board members that vest over four years, subject to the continued service relationship with the Company or become fully vested upon a change of control. The grant date fair value of the restricted stock awards was $0.7 million or $16.93 per share for awards granted during the nine months ended December 31, 2014, and $0.9 million or $9.37 per share for awards granted during the nine months ended December 31, 2013. Stock-based compensation expense recognized related to these restricted stock awards was $0.1 million and $0.1 million for the three months ended December 31, 2014 and 2013, respectively, and $0.3 million and $0.2 million for the nine months ended December 31, 2014 and 2013, respectively. The Company recognizes the expense using a straight-line basis over the requisite service periods of the award. | |||||||||||||||||||||||||
Stock Options Granted to Nonemployees— The Company granted 60,175 shares, 3,000 shares, 110,175 shares, and, 7,000 shares to nonemployee consultants during the three months ended December 31, 2014 and 2013 and for the nine months ended December 31, 2014 and 2013, respectively, and recorded stock-based compensation expense of $0.3 million, $0.1 million, $0.4 million, and $0.1 million, respectively. | |||||||||||||||||||||||||
Stock-Based Compensation Expense—Stock-based compensation expense for both employees and nonemployees was $3.4 million and $1.3 million for the three months ended December 31, 2014 and 2013, respectively, and $7.6 million and $4.7 million for the nine months ended December 31, 2014 and 2013, respectively. Cost of revenue, research and development, sales and marketing, and general and administrative expenses were as follows (in thousands): | |||||||||||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||||||||||
December 31, | December 31, | ||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||
Cost of revenue | $ | 166 | $ | 43 | $ | 359 | $ | 101 | |||||||||||||||||
Research and development | 721 | 206 | 1,178 | 1,194 | |||||||||||||||||||||
Sales and marketing | 1,474 | 609 | 3,378 | 999 | |||||||||||||||||||||
General and administrative | 1,065 | 427 | 2,677 | 2,430 | |||||||||||||||||||||
Total stock-based compensation expense | $ | 3,426 | $ | 1,285 | $ | 7,592 | $ | 4,724 | |||||||||||||||||
As of December 31, 2014 and March 31, 2014, unrecognized stock-based compensation cost related to outstanding unvested stock options that are expected to vest was $47.9 million and $17.6 million, respectively. This unrecognized stock-based compensation cost is expected to be recognized over a weighted-average period of approximately 3.4 years. |
Income_Taxes
Income Taxes | 9 Months Ended | |
Dec. 31, 2014 | ||
Income Tax Disclosure [Abstract] | ||
Income Taxes | 8 | Income Taxes |
The company recorded an income tax benefit of $0.1 million for the three and nine months ended December 31, 2014, respectively. This benefit is largely attributable to the deferred benefit associated with the amortization of Spanish intangibles assets, partially offset with state minimum taxes and foreign income taxes associated with our non-US operations. The Company continues to maintain a valuation allowance for its U.S. federal and state deferred tax assets. | ||
The utilization of the net operating loss (“NOL”) carryforwards is subject to annual limitations under Section 382 of the Internal Revenue Code. Section 382 imposes limitations on a corporation’s ability to utilize its NOL carryforwards if it experiences an “ownership change.” In general terms, an ownership change results from transactions increasing the ownership of certain stockholders in the stock of a corporation by more than 50% over a three-year period. Once an ownership change is deemed to have occurred under Section 382, a limitation on the annual utilization of NOL carryforwards is imposed and, therefore, a portion of the tax loss carryforwards would be subject to the limitation under Section 382. | ||
The Company files annual income tax returns in multiple taxing jurisdictions around the world. A number of years may elapse before an uncertain tax position is audited and finally resolved. While it is often difficult to predict the final outcome or the timing of resolution of any particular uncertain tax position, the Company believes that its reserves for income taxes reflect the most likely outcome. The Company adjusts these reserves, as well as the related interest, in light of changing facts and circumstances. However, if an ultimate tax assessment exceeds our estimate of tax liabilities, additional tax expense will be recorded. | ||
At December 31, 2014, the Company had $1.0 million of unrecognized tax benefits, of which none, if recognized, would affect the effective tax rate as most of the unrecognized tax benefit are deferred tax assets currently offset by a valuation allowance. There were no material changes to the unrecognized tax benefits in the three and nine months ended December 31, 2014, and 2013. The Company has elected to recognize interest and penalties related to uncertain tax positions as part of the income tax provision, however, as of December 31, 2014, no such interest and penalties had been recorded. | ||
Changes to the Company’s uncertain tax positions in the next 12 months that are reasonably possible are not expected to have a significant impact on the Company’s financial position or results of operations. |
Net_Loss_Per_Share
Net Loss Per Share | 9 Months Ended | ||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||
Earnings Per Share [Abstract] | |||||||||||||||||
Net Loss Per Share | 9 | Net Loss Per Share | |||||||||||||||
Basic loss per share is calculated by dividing net loss by the weighted-average number of common shares outstanding during the period, less shares subject to repurchase, and excludes any dilutive effects of employee share-based awards and warrants. Diluted net loss per common share is computed giving effect to all potential dilutive common shares, including common stock issuable upon exercise of stock options, and unvested restricted common stock. As the Company had net losses for the three and nine months ended December 31, 2014 and 2013, all potential common shares were determined to be anti-dilutive. | |||||||||||||||||
The following table sets forth the computation of net loss per share attributable to common stockholders, basic and diluted (in thousands, except per share amounts): | |||||||||||||||||
Three Months | Nine Months | ||||||||||||||||
Ended December 31, | Ended December 31, | ||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
Numerator: | |||||||||||||||||
Net loss | $ | (15,929 | ) | $ | (11,901 | ) | $ | (35,324 | ) | $ | (30,470 | ) | |||||
Denominator: | |||||||||||||||||
Weighted average shares used to compute net loss per share attributable to common stockholder, basic and diluted | 22,847 | 15,626 | 18,182 | 15,561 | |||||||||||||
Net loss per share—basic and diluted | $ | (0.70 | ) | $ | (0.76 | ) | $ | (1.94 | ) | $ | (1.96 | ) | |||||
The following outstanding options, unvested shares, warrants, and convertible preferred stock were excluded (as common stock equivalents) from the computation of diluted net loss per common share for the periods presented as their effect would have been antidilutive (in thousands): | |||||||||||||||||
December 31, | |||||||||||||||||
2014 | 2013 | ||||||||||||||||
Convertible preferred stock | — | 21,357 | |||||||||||||||
Options to purchase common stock | 9,516 | 6,893 | |||||||||||||||
Restricted stock units | 669 | — | |||||||||||||||
Warrants | 28 | 49 | |||||||||||||||
10,213 | 28,299 | ||||||||||||||||
Revenue_by_Geographic_Location
Revenue by Geographic Location | 9 Months Ended | ||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||
Segment Reporting [Abstract] | |||||||||||||||||
Revenue by Geographic Location | 10 | Revenue by Geographic Location | |||||||||||||||
The following table shows the Company’s revenue by geographic areas, as determined based on the billing address of its customers (in thousands): | |||||||||||||||||
Three Months Ended December 31, | Nine Months Ended December 31, | ||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
United States | $ | 19,123 | $ | 11,831 | $ | 51,258 | $ | 30,328 | |||||||||
EMEA | 5,704 | 2,973 | 14,671 | 7,293 | |||||||||||||
APAC | 2,310 | 1,328 | 6,093 | 3,116 | |||||||||||||
Other | 1,892 | 1,053 | 4,981 | 2,594 | |||||||||||||
Total revenue | $ | 29,029 | $ | 17,185 | $ | 77,003 | $ | 43,331 | |||||||||
Substantially all of the Company’s long-lived assets were attributable to operations in the United States as of December 31, 2014 and March 31, 2014. |
Description_of_Business_and_Su1
Description of Business and Summary of Significant Accounting Policies (Policies) | 9 Months Ended |
Dec. 31, 2014 | |
Accounting Policies [Abstract] | |
Description of Business | Description of Business—New Relic, Inc. (the “Company” or “New Relic”) was incorporated in Delaware on February 20, 2008. The Company is a software-as-a-service provider of software analytics products which allow users to monitor software performance with .NET, Java, JavaScript, Node.js, PHP, Python, and Ruby applications deployed in a cloud or in a data center. New Relic’s software analytics products enable developers and operation teams to monitor, troubleshoot, and optimize their applications. |
Basis of Presentation | Basis of Presentation—These unaudited condensed consolidated financial statements have been prepared in accordance with United States generally accepted accounting principles, or GAAP, and applicable rules and regulations of the Securities and Exchange Commission, or SEC, regarding interim financial reporting. Certain information and note disclosures normally included in the financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. Therefore, these condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes included in our final prospectus filed with the SEC on December 12, 2014 pursuant to Rule 424(b) of the Securities Act of 1933, as amended, relating to our Registration Statement on Form S-1 (File No. 333-200078). There have been no changes to our significant accounting policies described in the prospectus that have had a material impact on our condensed consolidated financial statements and related notes. |
The unaudited condensed consolidated financial statements reflect all normal recurring adjustments necessary to present fairly the financial position, results of operations, our comprehensive loss and cash flows for the interim periods, but are not necessarily indicative of the results of operations to be anticipated for the full fiscal year ending March 31, 2015. The condensed consolidated balance sheet as of March 31, 2014 included herein was derived from the audited financial statements as of that date. | |
Initial Public Offering | Initial Public Offering—In December 2014, we completed our initial public offering, or IPO, in which we issued and sold 5,750,000 million shares of common stock at a public offering price of $23.00 per share. We received aggregate proceeds of approximately $123.0 million from the sale of shares of common stock, net of underwriters’ discounts and commissions, but before deducting paid and unpaid offering expenses of approximately $3.1 million. |
The sale of common stock in the IPO triggered the weighted average anti-dilution provisions set forth in the Company’s amended and restated certificate of incorporation. At the IPO price of $23.00 per share, the per share conversion rate for the Company’s Series F convertible preferred stock into common stock was approximately 1:1.02. The conversion rate for the Company’s Series A, Series B, Series C, Series D, and Series E convertible preferred stock was 1:1. As a result of the IPO, the 24,813,343 shares of the Company’s convertible preferred stock outstanding automatically converted into 24,885,778 shares of the Company’s common stock. | |
Use of Estimates | Use of Estimates—The preparation of the Company’s condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of income and expenses during the reporting period. These estimates are based on information available as of the date of the condensed consolidated financial statements; therefore, actual results could differ from management’s estimates. |
Concentration of Risk | Concentration of Risk—At December 31, 2014, and March 31, 2014, there was no customer that represented more than 10% of our accounts receivable balance. There were no customers that individually exceeded 10% of our revenue during the three and nine months ended December 31, 2014. |
Short-term Investments | Short-term Investments—Short-term investments consist of money market funds, commercial paper, U.S. treasury securities, U.S. agency securities, corporate debt securities, and asset-back securities and are classified as available-for-sale securities. The Company has classified its investments as current based on the nature of the investments and their availability for use in current operations. Available-for-sale securities are carried at fair value with unrealized gains and losses reported as a component of accumulated other comprehensive loss, while realized gains and losses and other-than-temporary impairments are reported within the statement of operations. For the periods presented, realized and unrealized gains and losses on investments were not material. An impairment charge is recorded in the consolidated statements of operations for declines in fair value below the cost of an individual investment that are deemed to be other than temporary. The Company assesses whether a decline in value is temporary based on the length of time that the fair market value has been below cost, the severity of the decline and the intent and ability to hold or sell the investment. The Company did not identify any marketable securities as other-than-temporarily impaired as of December 31, 2014. The Company did not have marketable securities as of March 31, 2014. |
Business Combinations | Business Combinations—The Company recognizes identifiable assets acquired and liabilities assumed at their acquisition date fair value. Goodwill as of the acquisition date is measured as the excess of consideration transferred over the net of the acquisition date fair values of the assets acquired and the liabilities assumed. While we use our best estimates and assumptions as a part of the purchase price allocation process to accurately value assets acquired and liabilities assumed at the acquisition date, our estimates are inherently uncertain and subject to refinement. As a result, during the measurement period, which may be up to one year from the acquisition date, we record adjustments to the assets acquired and liabilities assumed, with the corresponding offset to goodwill to the extent that we identify adjustments to the preliminary purchase price allocation. Upon the conclusion of the measurement period or final determination of the values of assets acquired or liabilities assumed, whichever comes first, any subsequent adjustments are recorded to our consolidated statements of operations. |
Goodwill | Goodwill—Goodwill represents the excess of the purchase price of an acquired business over the fair value of the underlying net tangible and intangible assets. Goodwill is evaluated for impairment annually in the third quarter of the Company’s fiscal year, and whenever events or changes in circumstances indicate the carrying value of goodwill may not be recoverable. Triggering events that may indicate impairment include, but are not limited to, a significant adverse change in customer demand or business climate that could affect the value of goodwill or a significant decrease in expected cash flows. Since inception through December 31, 2014, the Company did not have any goodwill impairment. |
Intangible Assets | Intangible Assets—Intangible assets consist of identifiable intangible assets, primarily developed technology, resulting from the Company’s acquisitions. Acquired intangible assets are recorded at cost, net of accumulated amortization. Intangible assets are amortized on a straight-line basis over their estimated useful lives. |
Recent Accounting Pronouncements | Recent Accounting Pronouncements—In May 2014, the Financial Accounting Standards Board (“FASB”) issued new guidance related to the recognition and reporting of revenue that establishes a comprehensive new revenue recognition model designed to depict the transfer of goods or services to a customer in an amount that reflects the consideration the entity expects to receive in exchange for those goods or services. The guidance allows for the use of either the full or modified retrospective transition method, and the standard will be effective for the Company in our fiscal year beginning April 1, 2017; early adoption is not permitted. The Company is currently evaluating the impact of this new standard on its condensed consolidated financial statements, as well as which transition method the Company intends to use. |
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 9 Months Ended | ||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||
Fair Value Disclosures [Abstract] | |||||||||||||||||
Information about Financial Assets Measured at Fair Value on Recurring Basis | The following tables present information about our financial assets measured at fair value on a recurring basis as of December 31, 2014 and March 31, 2014 based on the three-tier fair value hierarchy (in thousands): | ||||||||||||||||
Fair Value Measurements as of | |||||||||||||||||
December 31, 2014 | |||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
Description: | |||||||||||||||||
Money market funds | $ | 91,311 | $ | — | $ | — | $ | 91,311 | |||||||||
Commercial paper | — | 14,126 | — | 14,126 | |||||||||||||
Corporate notes and bonds | — | 16,972 | — | 16,972 | |||||||||||||
U.S. treasury securities | 499 | — | — | 499 | |||||||||||||
U.S. government agencies | — | 3,499 | — | 3,499 | |||||||||||||
Asset-backed securities | — | 4,499 | — | 4,499 | |||||||||||||
Restricted cash - money market funds | 5,626 | — | — | 5,626 | |||||||||||||
Total | $ | 97,436 | $ | 39,096 | $ | — | $ | 136,532 | |||||||||
Included in cash and cash equivalents | $ | 93,861 | |||||||||||||||
Included in short-term investments | $ | 37,045 | |||||||||||||||
Included in restricted cash | $ | 5,626 | |||||||||||||||
Fair Value Measurements as of | |||||||||||||||||
31-Mar-14 | |||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
Description: | |||||||||||||||||
Money market funds | $ | 3,512 | $ | — | $ | — | $ | 3,512 | |||||||||
Restricted cash - money market funds | 5,601 | — | — | 5,601 | |||||||||||||
Total | $ | 9,113 | $ | — | $ | — | $ | 9,113 | |||||||||
Convertible preferred stock warrant liability | $ | — | $ | — | $ | 830 | $ | 830 | |||||||||
Included in cash and cash equivalents | $ | 3,512 | |||||||||||||||
Included in restricted cash | $ | 5,601 | |||||||||||||||
Included in other liabilities, non-current | $ | 830 | |||||||||||||||
Summary of Changes in Fair Value of Level 3 Financial Instruments | The following table sets forth a summary of the changes in the fair value of the Company’s Level 3 financial instruments as follows (in thousands): | ||||||||||||||||
Preferred Stock | |||||||||||||||||
Warrant | |||||||||||||||||
Liability | |||||||||||||||||
Balance at March 31, 2014 | $ | 830 | |||||||||||||||
Change in fair value of preferred stock warrant liability | 82 | ||||||||||||||||
Reclassification of preferred stock warrant liabilities to additional paid-in capital in conjunction with the conversion of the convertible preferred stock into common stock upon the closing of the Company’s IPO | (912 | ) | |||||||||||||||
Balance at December 31, 2014 | $ | — | |||||||||||||||
Classification of Available-for-Sale Short-Term Investments by Contractual Maturities | The following table classifies our available-for-sale short-term investments by contractual maturities as of December 31, 2014 and March 31, 2014 (in thousands): | ||||||||||||||||
December 31, | March 31, | ||||||||||||||||
2014 | 2014 | ||||||||||||||||
Due in one year | $ | 17,487 | $ | — | |||||||||||||
Due in one to three years | 19,558 | — | |||||||||||||||
Total | $ | 37,045 | $ | — | |||||||||||||
Property_and_Equipment_Tables
Property and Equipment (Tables) | 9 Months Ended | ||||||||
Dec. 31, 2014 | |||||||||
Property, Plant and Equipment [Abstract] | |||||||||
Schedule of Property and Equipment, Net | Property and equipment, net, consisted of the following (in thousands): | ||||||||
December 31, | March 31, | ||||||||
2014 | 2014 | ||||||||
Computers, software, and equipment | $ | 2,752 | $ | 1,983 | |||||
Site operation equipment | 6,099 | 2,535 | |||||||
Furniture and fixtures | 753 | 494 | |||||||
Leasehold improvements | 19,674 | 12,355 | |||||||
Capitalized software development costs | 18,663 | 11,444 | |||||||
Total property and equipment | 47,941 | 28,811 | |||||||
Less: accumulated depreciation and amortization | (14,159 | ) | (8,628 | ) | |||||
Total property and equipment, net | $ | 33,782 | $ | 20,183 | |||||
Goodwill_and_Purchased_Intangi1
Goodwill and Purchased Intangibles Assets (Tables) | 9 Months Ended | ||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | |||||||||||||||||
Changes in Carrying Amount of Goodwill | The changes in the carrying amount of goodwill for the nine months ended December 31, 2014 are as follows (in thousands): | ||||||||||||||||
Goodwill as of March 31, 2014 | $ | — | |||||||||||||||
Goodwill acquired | 2,053 | ||||||||||||||||
Goodwill as of December 31, 2014 | $ | 2,053 | |||||||||||||||
Schedule of Purchased Intangible Assets Subject to Amortization | Purchased intangible assets subject to amortization as of December 31, 2014 consist of the following (in thousands). No purchased intangible assets were recorded as of March 31, 2014. | ||||||||||||||||
Gross Carrying | Accumulated | Net Carrying | Remaining | ||||||||||||||
Amount | Amortization | Amount | Useful Life | ||||||||||||||
(In years) | |||||||||||||||||
Developed technology | $ | 2,400 | $ | (198 | ) | $ | 2,202 | 2.75 | |||||||||
Customer relationships | 100 | (12 | ) | 88 | 1.75 | ||||||||||||
Other intangible assets | 300 | (37 | ) | 263 | 1.75 | ||||||||||||
$ | 2,800 | $ | (247 | ) | $ | 2,553 | |||||||||||
Schedule of Estimated Future Amortization Expense | Estimated future amortization expense as of December 31, 2014 is as follows (in thousands): | ||||||||||||||||
2015 (remaining 3 months) | $ | 250 | |||||||||||||||
2016 | 1,000 | ||||||||||||||||
2017 | 900 | ||||||||||||||||
2018 | 403 | ||||||||||||||||
2019 and thereafter | — | ||||||||||||||||
$ | 2,553 | ||||||||||||||||
Commitments_and_Contingencies_
Commitments and Contingencies (Tables) | 9 Months Ended | ||||
Dec. 31, 2014 | |||||
Commitments and Contingencies Disclosure [Abstract] | |||||
Future Minimum Lease Payments Under Non-Cancelable Operating Leases | Future minimum lease payments under non-cancelable operating leases as of December 31, 2014, were as follows (in thousands): | ||||
Operating Leases | |||||
2015 (remaining 3 months) | $ | 1,362 | |||
2016 | 5,741 | ||||
2017 | 6,267 | ||||
2018 | 6,495 | ||||
2019 | 6,629 | ||||
Thereafter | 14,946 | ||||
Total minimum future lease payments | $ | 41,440 | |||
Common_Stock_and_Stockholders_1
Common Stock and Stockholders' Equity (Deficit) (Tables) | 9 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||||||
Equity [Abstract] | |||||||||||||||||||||||||
Schedule of Stock Option and RSU Award Activities | The following table summarizes our stock option and RSU award activities for the nine months ended December 31, 2014 (in thousands, except per share information): | ||||||||||||||||||||||||
Options Outstanding | RSU Outstanding | ||||||||||||||||||||||||
Weighted-Average | Weighted- | ||||||||||||||||||||||||
Average | |||||||||||||||||||||||||
Number | Weighted-Average | Remaining | Aggregate | Outstanding | Grant Date | ||||||||||||||||||||
Contractual | Intrinsic | ||||||||||||||||||||||||
of Shares | Exercise Price | Term (in years) | Value | RSUs | Fair Value | ||||||||||||||||||||
Outstanding - April 1, 2014 | 6,923 | $ | 4.86 | — | $ | — | |||||||||||||||||||
Stock options granted | 3,486 | 18.66 | — | — | |||||||||||||||||||||
RSU granted | — | — | 672 | 23 | |||||||||||||||||||||
Stock options exercised | (392 | ) | 2.33 | — | — | ||||||||||||||||||||
Stock options canceled/forfeited | (501 | ) | 9.15 | — | — | ||||||||||||||||||||
RSU canceled/forfeited | — | — | (3 | ) | 23 | ||||||||||||||||||||
Outstanding -December 31, 2014 | 9,516 | $ | 9.8 | 8.2 | $ | 238,251 | 669 | $ | 23 | ||||||||||||||||
Schedule of Cost of Revenue, Research and Development, Sales and Marketing and General and Administrative Expenses | Cost of revenue, research and development, sales and marketing, and general and administrative expenses were as follows (in thousands): | ||||||||||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||||||||||
December 31, | December 31, | ||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||
Cost of revenue | $ | 166 | $ | 43 | $ | 359 | $ | 101 | |||||||||||||||||
Research and development | 721 | 206 | 1,178 | 1,194 | |||||||||||||||||||||
Sales and marketing | 1,474 | 609 | 3,378 | 999 | |||||||||||||||||||||
General and administrative | 1,065 | 427 | 2,677 | 2,430 | |||||||||||||||||||||
Total stock-based compensation expense | $ | 3,426 | $ | 1,285 | $ | 7,592 | $ | 4,724 | |||||||||||||||||
Net_Loss_Per_Share_Tables
Net Loss Per Share (Tables) | 9 Months Ended | ||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||
Earnings Per Share [Abstract] | |||||||||||||||||
Computation of Net Loss Per Share Attributable to Common Stockholders, Basic and Diluted | The following table sets forth the computation of net loss per share attributable to common stockholders, basic and diluted (in thousands, except per share amounts): | ||||||||||||||||
Three Months | Nine Months | ||||||||||||||||
Ended December 31, | Ended December 31, | ||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
Numerator: | |||||||||||||||||
Net loss | $ | (15,929 | ) | $ | (11,901 | ) | $ | (35,324 | ) | $ | (30,470 | ) | |||||
Denominator: | |||||||||||||||||
Weighted average shares used to compute net loss per share attributable to common stockholder, basic and diluted | 22,847 | 15,626 | 18,182 | 15,561 | |||||||||||||
Net loss per share—basic and diluted | $ | (0.70 | ) | $ | (0.76 | ) | $ | (1.94 | ) | $ | (1.96 | ) | |||||
Antidilutive Securities Excluded from Computation of Diluted Net Loss per Common Share of Common Stock Equivalents | The following outstanding options, unvested shares, warrants, and convertible preferred stock were excluded (as common stock equivalents) from the computation of diluted net loss per common share for the periods presented as their effect would have been antidilutive (in thousands): | ||||||||||||||||
December 31, | |||||||||||||||||
2014 | 2013 | ||||||||||||||||
Convertible preferred stock | — | 21,357 | |||||||||||||||
Options to purchase common stock | 9,516 | 6,893 | |||||||||||||||
Restricted stock units | 669 | — | |||||||||||||||
Warrants | 28 | 49 | |||||||||||||||
10,213 | 28,299 | ||||||||||||||||
Revenue_by_Geographic_Location1
Revenue by Geographic Location (Tables) | 9 Months Ended | ||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||
Segment Reporting [Abstract] | |||||||||||||||||
Schedule of Revenue by Geographic Areas | The following table shows the Company’s revenue by geographic areas, as determined based on the billing address of its customers (in thousands): | ||||||||||||||||
Three Months Ended December 31, | Nine Months Ended December 31, | ||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||
United States | $ | 19,123 | $ | 11,831 | $ | 51,258 | $ | 30,328 | |||||||||
EMEA | 5,704 | 2,973 | 14,671 | 7,293 | |||||||||||||
APAC | 2,310 | 1,328 | 6,093 | 3,116 | |||||||||||||
Other | 1,892 | 1,053 | 4,981 | 2,594 | |||||||||||||
Total revenue | $ | 29,029 | $ | 17,185 | $ | 77,003 | $ | 43,331 | |||||||||
Description_of_Business_and_Su2
Description of Business and Summary of Significant Accounting Policies - Additional Information (Detail) (USD $) | 9 Months Ended | 82 Months Ended | 1 Months Ended | 12 Months Ended | 3 Months Ended |
Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2014 | Mar. 31, 2014 | Dec. 31, 2014 | |
Customer | Customer | ||||
Description Of Business And Summary Of Significant Accounting Policies [Line Items] | |||||
Company incorporation date | 20-Feb-08 | ||||
Proceeds from sale of common stock, net of underwriters' discounts and commissions | $120,601,000 | ||||
Other-than-temporarily impaired marketable securities | 0 | ||||
Marketable securities | 0 | ||||
Goodwill impairment | 0 | ||||
Common Stock [Member] | |||||
Description Of Business And Summary Of Significant Accounting Policies [Line Items] | |||||
Number of common stock shares issued upon conversion of convertible preferred stock | 24,885,778 | ||||
Series F Convertible Preferred Stock [Member] | |||||
Description Of Business And Summary Of Significant Accounting Policies [Line Items] | |||||
Convertible preferred stock conversion rate | 1.02 | 1.02 | 1.02 | 1.02 | |
Series A Through E Preferred Stock [Member] | |||||
Description Of Business And Summary Of Significant Accounting Policies [Line Items] | |||||
Convertible preferred stock conversion rate | 1 | 1 | 1 | 1 | |
Convertible Preferred Stock [Member] | |||||
Description Of Business And Summary Of Significant Accounting Policies [Line Items] | |||||
Number of convertible preferred stock shares converted | 24,813,343 | ||||
Initial Public Offering [Member] | |||||
Description Of Business And Summary Of Significant Accounting Policies [Line Items] | |||||
Common stock shares issued | 5,750,000 | ||||
Proceeds from sale of common stock, net of underwriters' discounts and commissions | 123,000,000 | ||||
Common stock shares issued, price per share | $23 | $23 | 23 | 23 | |
Offering expenses | 3,100,000 | ||||
Accounts Receivable [Member] | |||||
Description Of Business And Summary Of Significant Accounting Policies [Line Items] | |||||
Concentration of risk, percentage | 10.00% | 10.00% | |||
Number of customers | 0 | 0 | |||
Revenue [Member] | |||||
Description Of Business And Summary Of Significant Accounting Policies [Line Items] | |||||
Concentration of risk, percentage | 10.00% | 10.00% | |||
Number of customers | 0 | 0 |
Business_Combination_Additiona
Business Combination - Additional Information (Detail) (USD $) | 0 Months Ended | ||
Oct. 06, 2014 | Dec. 31, 2014 | Mar. 31, 2014 | |
Business Acquisition [Line Items] | |||
Preliminary purchase price allocation, goodwill | $2,053,000 | $0 | |
Ducksboard [Member] | |||
Business Acquisition [Line Items] | |||
Number of shares issued to acquire capital stock | 121,493 | ||
Number of common stock shares issued | 108,234 | ||
Shares issued on closing date | 13,259 | ||
Purchase consideration paid in cash | 2,300,000 | ||
Business acquisition, aggregate purchase price | 4,200,000 | ||
Preliminary purchase price allocation, goodwill | 2,100,000 | ||
Preliminary purchase price allocation, identifiable intangible assets | 2,800,000 | ||
Preliminary purchase price allocation, net liabilities assumed | $700,000 | ||
Business acquisition obligation to issue common stock, shares | 128,507 |
Fair_Value_Measurements_Inform
Fair Value Measurements - Information about Financial Assets Measured at Fair Value on Recurring Basis (Detail) (USD $) | Dec. 31, 2014 | Mar. 31, 2014 |
In Thousands, unless otherwise specified | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets fair value | $136,532 | $9,113 |
Other Liabilities, Non-Current [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets fair value | 830 | |
Cash and Cash Equivalents [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets fair value | 93,861 | 3,512 |
Short-Term Investments [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets fair value | 37,045 | |
Restricted Cash [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets fair value | 5,626 | 5,601 |
Convertible Preferred Stock Warrant Liability [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Liability fair value | 830 | |
Money Market Funds [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets fair value | 91,311 | 3,512 |
Commercial Paper [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets fair value | 14,126 | |
Corporate Notes and Bonds [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets fair value | 16,972 | |
US Treasury Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets fair value | 499 | |
US Government Agencies [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets fair value | 3,499 | |
Asset-backed Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets fair value | 4,499 | |
Restricted Cash - Money Market Funds [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets fair value | 5,626 | 5,601 |
Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets fair value | 97,436 | 9,113 |
Level 1 [Member] | Money Market Funds [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets fair value | 91,311 | 3,512 |
Level 1 [Member] | US Treasury Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets fair value | 499 | |
Level 1 [Member] | Restricted Cash - Money Market Funds [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets fair value | 5,626 | 5,601 |
Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets fair value | 39,096 | |
Level 2 [Member] | Commercial Paper [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets fair value | 14,126 | |
Level 2 [Member] | Corporate Notes and Bonds [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets fair value | 16,972 | |
Level 2 [Member] | US Government Agencies [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets fair value | 3,499 | |
Level 2 [Member] | Asset-backed Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets fair value | 4,499 | |
Level 3 [Member] | Convertible Preferred Stock Warrant Liability [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Liability fair value | $830 |
Fair_Value_Measurements_Additi
Fair Value Measurements - Additional Information (Detail) (USD $) | 3 Months Ended | 9 Months Ended | 1 Months Ended |
Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2014 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Aggregate fair value of warrants | $600,000 | $600,000 | 600,000 |
Transfers between fair value measurement levels | $0 | $0 | |
Warrants to Purchase Preferred Stock [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Shares issued upon net exercise of warrant to purchase Series D convertible preferred stock | 12,193 |
Fair_Value_Measurements_Summar
Fair Value Measurements - Summary of Changes in Fair Value of Level 3 Financial Instruments (Detail) (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Change in fair value of preferred stock warrant liability | ($82) | ($488) |
Preferred Stock Warrant Liability [Member] | ||
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Preferred Stock Warrant Liability, Beginning Balance | 830 | |
Change in fair value of preferred stock warrant liability | 82 | |
Reclassification of preferred stock warrant liabilities to additional paid-in capital in conjunction with the conversion of the convertible preferred stock into common stock upon the closing of the Company's IPO | -912 | |
Preferred Stock Warrant Liability, Ending Balance | $0 |
Fair_Value_Measurements_Classi
Fair Value Measurements - Classification of Available-for-Sale Short-Term Investments by Contractual Maturities (Detail) (USD $) | Dec. 31, 2014 |
In Thousands, unless otherwise specified | |
Available-for-sale Securities, Debt Maturities, Fair Value, Fiscal Year Maturity [Abstract] | |
Due in one year | $17,487 |
Due in one to three years | 19,558 |
Total | $37,045 |
Property_and_Equipment_Schedul
Property and Equipment - Schedule of Property and Equipment, Net (Detail) (USD $) | Dec. 31, 2014 | Mar. 31, 2014 |
In Thousands, unless otherwise specified | ||
Property, Plant and Equipment [Line Items] | ||
Total property and equipment | $47,941 | $28,811 |
Less: accumulated depreciation and amortization | -14,159 | -8,628 |
Total property and equipment, net | 33,782 | 20,183 |
Computers, Software, and Equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Total property and equipment | 2,752 | 1,983 |
Site Operation Equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Total property and equipment | 6,099 | 2,535 |
Furniture and Fixtures [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Total property and equipment | 753 | 494 |
Leasehold Improvements [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Total property and equipment | 19,674 | 12,355 |
Capitalized Software Development Costs [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Total property and equipment | $18,663 | $11,444 |
Property_and_Equipment_Additio
Property and Equipment - Additional Information (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 |
Property, Plant and Equipment [Abstract] | ||||
Depreciation and amortization expense | $2.40 | $1.20 | $5.90 | $3.10 |
Goodwill_and_Purchased_Intangi2
Goodwill and Purchased Intangibles Assets - Changes in Carrying Amount of Goodwill (Detail) (USD $) | 9 Months Ended |
In Thousands, unless otherwise specified | Dec. 31, 2014 |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill as of March 31, 2014 | $0 |
Goodwill acquired | 2,053 |
Goodwill as of December 31, 2014 | $2,053 |
Goodwill_and_Purchased_Intangi3
Goodwill and Purchased Intangibles Assets - Additional Information (Detail) (USD $) | 3 Months Ended | 9 Months Ended | |||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2014 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |||||
Purchased intangible assets | $2,553,000 | $2,553,000 | $0 | ||
Amortization expense | $200,000 | $0 | $200,000 | $0 |
Goodwill_and_Purchased_Intangi4
Goodwill and Purchased Intangibles Assets - Schedule of Purchased Intangible Assets Subject to Amortization (Detail) (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2014 | Mar. 31, 2014 |
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Amount | $2,800 | |
Accumulated Amortization | -247 | |
Net Carrying Amount | 2,553 | 0 |
Developed Technology Rights [Member] | ||
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Amount | 2,400 | |
Accumulated Amortization | -198 | |
Net Carrying Amount | 2,202 | |
Remaining Useful Life (In years) | 2 years 9 months | |
Customer Relationships [Member] | ||
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Amount | 100 | |
Accumulated Amortization | -12 | |
Net Carrying Amount | 88 | |
Remaining Useful Life (In years) | 1 year 9 months | |
Other Intangible Assets [Member] | ||
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Amount | 300 | |
Accumulated Amortization | -37 | |
Net Carrying Amount | $263 | |
Remaining Useful Life (In years) | 1 year 9 months |
Goodwill_and_Purchased_Intangi5
Goodwill and Purchased Intangibles Assets - Schedule of Estimated Future Amortization Expense (Detail) (USD $) | Dec. 31, 2014 | Mar. 31, 2014 |
In Thousands, unless otherwise specified | ||
Goodwill and Intangible Assets Disclosure [Abstract] | ||
2015 (remaining 3 months) | $250 | |
2016 | 1,000 | |
2017 | 900 | |
2018 | 403 | |
2019 and thereafter | 0 | |
Net Carrying Amount | $2,553 | $0 |
Commitments_and_Contingencies_1
Commitments and Contingencies - Additional Information (Detail) (USD $) | 3 Months Ended | 9 Months Ended | |||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2014 | |
Commitments and Contingencies Disclosure [Abstract] | |||||
Non-cancelable operating lease agreements, expiration dates | From 2015 through 2023 | ||||
Deferred rent | $4,700,000 | $4,700,000 | $3,900,000 | ||
Rent expense, net of sublease income, for operating leases | 1,300,000 | 1,300,000 | 3,900,000 | 3,400,000 | |
Purchase commitments | 2,900,000 | 2,900,000 | 600,000 | ||
Accrued loss | $0 | $0 |
Commitments_and_Contingencies_2
Commitments and Contingencies - Future Minimum Lease Payments Under Non-Cancelable Operating Leases (Detail) (USD $) | Dec. 31, 2014 |
In Thousands, unless otherwise specified | |
Leases [Abstract] | |
2015 (remaining 3 months) | $1,362 |
2016 | 5,741 |
2017 | 6,267 |
2018 | 6,495 |
2019 | 6,629 |
Thereafter | 14,946 |
Total minimum future lease payments | $41,440 |
Common_Stock_and_Stockholders_2
Common Stock and Stockholders' Equity (Deficit) - Additional Information (Detail) (USD $) | 1 Months Ended | 3 Months Ended | 9 Months Ended | |||
Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2014 | |
Class of Stock [Line Items] | ||||||
Preferred stock, shares authorized | 10,000,000 | 10,000,000 | 10,000,000 | |||
Preferred stock, par value | $0.00 | $0.00 | $0.00 | |||
Common stock, shares authorized | 100,000,000 | 100,000,000 | 100,000,000 | 49,000,000 | ||
Common stock, par value | $0.00 | $0.00 | $0.00 | $0.00 | ||
Maximum initial reserved and authorized common stock for issuance under ESPP | 1,000,000 | 1,000,000 | 1,000,000 | |||
Additional shares available for issuance under the plan | 500,000 | |||||
Percentage of common stock shares increased under the plan | 1.00% | |||||
Fair value of the restricted stock awards, shares issued | $23 | |||||
Stock-based compensation expense | $3,426,000 | $1,285,000 | $7,592,000 | $4,724,000 | ||
Stock options granted | 3,486,000 | |||||
Expected to vest unrecognized stock-based compensation cost related to outstanding unvested stock options | 47,900,000 | 47,900,000 | 47,900,000 | 17,600,000 | ||
Stock based compensation cost is expected to be recognized over a weighted-average period | 3 years 4 months 24 days | |||||
Nonemployees [Member] | ||||||
Class of Stock [Line Items] | ||||||
Stock-based compensation expense | 300,000 | 100,000 | 400,000 | 100,000 | ||
Stock options granted | 60,175 | 3,000 | 110,175 | 7,000 | ||
Restricted Stock Awards [Member] | ||||||
Class of Stock [Line Items] | ||||||
Fair value granted restricted stock awards shares of common stock | 40,000 | 100,000 | ||||
Fair value of the restricted stock awards, value | 700,000 | 900,000 | ||||
Fair value of the restricted stock awards, shares issued | $16.93 | $9.37 | ||||
Common stock vesting period | 4 years | |||||
Stock-based compensation expense | $100,000 | $100,000 | $300,000 | $200,000 | ||
2014 Equity Incentive Plan [Member] | ||||||
Class of Stock [Line Items] | ||||||
Shares reserved for issuance under plan | 5,000,000 | 5,000,000 | 5,000,000 | |||
Shares available for grant under plan | 5,184,878 | 5,184,878 | 5,184,878 | |||
Increase in shares available under plan, percentage of outstanding common stock shares | 5.00% | |||||
Shares available for issuance | 5,207,555 | 5,207,555 | 5,207,555 | |||
Common Stock [Member] | ||||||
Class of Stock [Line Items] | ||||||
Number of common stock shares issued upon conversion of convertible preferred stock | 24,885,778 | |||||
Before Amendment and Restated [Member] | ||||||
Class of Stock [Line Items] | ||||||
Common stock, shares authorized | 55,000,000 | 55,000,000 | 55,000,000 |
Common_Stock_and_Stockholders_3
Common Stock and Stockholders' Equity (Deficit) - Schedule of Stock Option and RSU Award Activities (Detail) (USD $) | 9 Months Ended |
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2014 |
Number of Shares | |
Beginning balance | 6,923 |
Stock options granted | 3,486 |
Stock options exercised | -392 |
Stock options canceled/forfeited | -501 |
Ending balance | 9,516 |
Weighted-Average Exercise Price | |
Beginning balance | $4.86 |
Stock options granted | $18.66 |
Stock options exercised | $2.33 |
Stock options canceled/forfeited | $9.15 |
Ending balance | $9.80 |
Weighted-Average Remaining Contractual Term (in years) | |
Balance | 8 years 2 months 12 days |
Aggregate Intrinsic Value | |
Balance | $238,251 |
Outstanding RSUs | |
RSU granted | 672 |
RSU canceled/forfeited | -3 |
Ending balance | 669 |
Weighted-Average Grant Date Fair Value | |
RSU granted | $23 |
RSU canceled/forfeited | $23 |
Ending balance | $23 |
Common_Stock_and_Stockholders_4
Common Stock and Stockholders' Equity (Deficit) - Schedule of Cost of Revenue, Research and Development, Sales and Marketing and General and Administrative Expenses (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 |
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ||||
Total stock-based compensation expense | $3,426 | $1,285 | $7,592 | $4,724 |
Cost of Revenue [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ||||
Total stock-based compensation expense | 166 | 43 | 359 | 101 |
Research and Development [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ||||
Total stock-based compensation expense | 721 | 206 | 1,178 | 1,194 |
Sales and Marketing [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ||||
Total stock-based compensation expense | 1,474 | 609 | 3,378 | 999 |
General and Administrative [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ||||
Total stock-based compensation expense | $1,065 | $427 | $2,677 | $2,430 |
Income_Taxes_Additional_Inform
Income Taxes - Additional Information (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | |
Income Tax Disclosure [Abstract] | ||||
Benefit from income taxes | ($104,000) | ($104,000) | ||
Unrecognized tax benefits | 1,000,000 | 1,000,000 | ||
Changes to unrecognized tax benefits | 0 | 0 | 0 | 0 |
Interest and penalties related to uncertain tax positions | $0 |
Net_Loss_Per_Share_Computation
Net Loss Per Share - Computation of Net Loss Per Share Attributable to Common Stockholders, Basic and Diluted (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 |
Numerator: | ||||
Net loss | ($15,929) | ($11,901) | ($35,324) | ($30,470) |
Denominator: | ||||
Weighted average shares used to compute net loss per share attributable to common stockholder, basic and diluted | 22,847 | 15,626 | 18,182 | 15,561 |
Net loss per share-basic and diluted | ($0.70) | ($0.76) | ($1.94) | ($1.96) |
Net_Loss_Per_Share_Antidilutiv
Net Loss Per Share - Antidilutive Securities Excluded from Computation of Diluted Net Loss per Common Share of Common Stock Equivalents (Detail) | 9 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Antidilutive securities excluded from computation of diluted net loss per common share | 10,213 | 28,299 |
Convertible Preferred Stock [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Antidilutive securities excluded from computation of diluted net loss per common share | 21,357 | |
Options to Purchase Common Stock [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Antidilutive securities excluded from computation of diluted net loss per common share | 9,516 | 6,893 |
Restricted Stock Units [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Antidilutive securities excluded from computation of diluted net loss per common share | 669 | |
Warrants [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Antidilutive securities excluded from computation of diluted net loss per common share | 28 | 49 |
Revenue_by_Geographic_Location2
Revenue by Geographic Location - Schedule of Revenue by Geographic Areas (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 |
Segment Reporting Information [Line Items] | ||||
Total revenue | $29,029 | $17,185 | $77,003 | $43,331 |
United States [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Total revenue | 19,123 | 11,831 | 51,258 | 30,328 |
EMEA [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Total revenue | 5,704 | 2,973 | 14,671 | 7,293 |
APAC [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Total revenue | 2,310 | 1,328 | 6,093 | 3,116 |
Other [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Total revenue | $1,892 | $1,053 | $4,981 | $2,594 |