Document_and_Entity_Informatio
Document and Entity Information (USD $) | 12 Months Ended | ||
Mar. 31, 2015 | 15-May-15 | Dec. 31, 2014 | |
Document And Entity Information [Abstract] | |||
Document Type | 10-K | ||
Amendment Flag | FALSE | ||
Document Period End Date | 31-Mar-15 | ||
Document Fiscal Year Focus | 2015 | ||
Document Fiscal Period Focus | FY | ||
Trading Symbol | NEWR | ||
Entity Registrant Name | NEW RELIC INC | ||
Entity Central Index Key | 1448056 | ||
Current Fiscal Year End Date | -28 | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Filer Category | Non-accelerated Filer | ||
Entity Common Stock, Shares Outstanding | 47,222,049 | ||
Entity Public Float | $693,393,031 |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Mar. 31, 2015 | Mar. 31, 2014 |
Current assets: | ||
Cash and cash equivalents | $105,257,000 | $19,453,000 |
Short-term investments | 95,503,000 | 0 |
Accounts receivable, net of allowance for doubtful accounts of $282 and $84, respectively | 13,813,000 | 5,532,000 |
Prepaid expenses and other current assets | 4,299,000 | 2,491,000 |
Total current assets | 218,872,000 | 27,476,000 |
Property and equipment, net | 35,397,000 | 20,183,000 |
Restricted cash | 4,623,000 | 5,601,000 |
Goodwill | 2,053,000 | 0 |
Intangible assets, net | 2,300,000 | |
Other assets | 1,466,000 | 1,948,000 |
Total assets | 264,711,000 | 55,208,000 |
Current liabilities: | ||
Accounts payable | 4,969,000 | 4,109,000 |
Accrued compensation and benefits | 6,288,000 | 2,822,000 |
Other current liabilities | 3,623,000 | 2,160,000 |
Deferred revenue | 29,185,000 | 10,359,000 |
Total current liabilities | 44,065,000 | 19,450,000 |
Deferred rent, non-current | 4,638,000 | 3,606,000 |
Other liabilities, non-current | 1,138,000 | 900,000 |
Total liabilities | 49,841,000 | 23,956,000 |
Commitments and contingencies (Note 7) | ||
Convertible preferred stock: | ||
Convertible preferred stock, $0.001 par value; 10,000 shares and 22,323 shares authorized at March 31, 2015 and March 31, 2014; no shares and 21,357 shares issued and outstanding at March 31, 2015 and March 31, 2014; | 95,917,000 | |
Stockholders' equity (deficit): | ||
Common stock, $0.001 par value; 100,000 and 49,000 shares authorized at March 31, 2015 and March 31, 2014; 47,377 shares and 16,063 shares issued at March 31, 2015 and March 31, 2014; and 47,117 shares and 15,803 shares outstanding at March 31, 2015 and March 31, 2014; | 47,000 | 16,000 |
Treasury stock-at cost (260 shares) | -263,000 | -263,000 |
Additional paid-in capital | 346,671,000 | 17,033,000 |
Accumulated other comprehensive income | 15,000 | |
Accumulated deficit | -131,600,000 | -81,451,000 |
Total stockholders' equity (deficit) | 214,870,000 | -64,665,000 |
Total liabilities, convertible preferred stock and stockholders' equity (deficit) | $264,711,000 | $55,208,000 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (USD $) | Mar. 31, 2015 | Mar. 31, 2014 |
In Thousands, except Per Share data, unless otherwise specified | ||
Statement of Financial Position [Abstract] | ||
Accounts receivable, allowance for doubtful accounts | $282 | $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 | 47,377 | 16,063 |
Common stock, shares outstanding | 47,117 | 15,803 |
Treasury stock, shares | 260 | 260 |
Consolidated_Statements_of_Ope
Consolidated Statements of Operations (USD $) | 12 Months Ended | ||
Share data in Thousands, except Per Share data, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 | Mar. 31, 2013 |
Income Statement [Abstract] | |||
Revenue | $110,391,000 | $63,174,000 | $29,664,000 |
Cost of revenue | 21,802,000 | 10,780,000 | 5,078,000 |
Gross profit | 88,589,000 | 52,394,000 | 24,586,000 |
Operating expenses: | |||
Research and development | 24,024,000 | 16,496,000 | 8,565,000 |
Sales and marketing | 89,162,000 | 58,156,000 | 28,365,000 |
General and administrative | 25,319,000 | 17,178,000 | 10,053,000 |
Total operating expenses | 138,505,000 | 91,830,000 | 46,983,000 |
Loss from operations | -49,916,000 | -39,436,000 | -22,397,000 |
Other income (expense): | |||
Interest income | 176,000 | 16,000 | 9,000 |
Interest expense | -104,000 | -64,000 | -48,000 |
Other expense, net | -390,000 | -741,000 | -105,000 |
Loss before income taxes | -50,234,000 | -40,225,000 | -22,541,000 |
Benefit from income taxes | -85,000 | 0 | 0 |
Net loss | ($50,149,000) | ($40,225,000) | ($22,541,000) |
Net loss per share attributable to common stockholders, basic and diluted | ($1.98) | ($2.58) | ($1.49) |
Weighted-average shares used to compute net loss per share attributable to common stockholders, basic and diluted | 25,290 | 15,596 | 15,096 |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Loss (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 | Mar. 31, 2013 |
Statement of Comprehensive Income [Abstract] | |||
Net loss | ($50,149) | ($40,225) | ($22,541) |
Other comprehensive income: | |||
Unrealized gain on available-for-sale securities, net of tax | 15 | ||
Comprehensive loss | ($50,134) | ($40,225) | ($22,541) |
Consolidated_Statements_of_Con
Consolidated Statements of Convertible Preferred Stock and Stockholders' Equity (Deficit) (USD $) | Total | Common Stock [Member] | Additional Paid-in Capital [Member] | Treasury Stock [Member] | Accumulated Other Comprehensive Income [Member] | Accumulated Deficit [Member] | Convertible Preferred Stock [Member] | Convertible Preferred Stock [Member] | Convertible Preferred Stock [Member] |
In Thousands, except Share data | Series E Preferred Stock [Member] | Series F Convertible Preferred Stock [Member] | |||||||
Stockholders Equity, Beginning Balance at Mar. 31, 2012 | ($17,731) | $15 | $1,202 | ($263) | ($18,685) | ||||
Temporary Equity, Beginning Balance at Mar. 31, 2012 | 36,150 | ||||||||
Stockholders Equity, Beginning Balance, Shares at Mar. 31, 2012 | 15,252,000 | 260,000 | |||||||
Temporary Equity, Beginning Balance, Shares at Mar. 31, 2012 | 17,910,000 | ||||||||
Issuance of convertible preferred stock - net of issuance cost | 59,767 | ||||||||
Issuance of convertible preferred stock - net of issuance cost, Shares | 3,447,000 | ||||||||
Issuance of common stock upon exercise of stock options | 255 | 1 | 254 | ||||||
Issuance of common stock upon exercise of stock options, Share | 504,000 | ||||||||
Vesting of early exercised options | 12 | 12 | |||||||
Stock-based compensation expense | 8,766 | 8,766 | |||||||
Net loss | -22,541 | -22,541 | |||||||
Stockholders Equity, Ending Balance at Mar. 31, 2013 | -31,239 | 16 | 10,234 | -263 | -41,226 | ||||
Temporary Equity, Ending Balance at Mar. 31, 2013 | 95,917 | ||||||||
Stockholders Equity, Ending Balance, Shares at Mar. 31, 2013 | 15,756,000 | 260,000 | |||||||
Temporary Equity, Ending Balance, Shares at Mar. 31, 2013 | 21,357,000 | ||||||||
Issuance of common stock upon exercise of stock options | 294 | 294 | |||||||
Issuance of common stock upon exercise of stock options, Share | 207,000 | ||||||||
Issuance of restricted stock awards subject to vesting | 0 | 0 | 0 | 0 | 0 | 0 | |||
Issuance of restricted stock awards subject to vesting, Shares | 100,000 | ||||||||
Stock-based compensation expense | 6,505 | 6,505 | |||||||
Net loss | -40,225 | -40,225 | |||||||
Stockholders Equity, Ending Balance at Mar. 31, 2014 | -64,665 | 16 | 17,033 | -263 | -81,451 | ||||
Temporary Equity, Ending Balance at Mar. 31, 2014 | 95,917 | 95,917 | |||||||
Stockholders Equity, Ending Balance, Shares at Mar. 31, 2014 | 16,063,000 | 260,000 | |||||||
Temporary Equity, Ending Balance, Shares at Mar. 31, 2014 | 21,357,000 | 21,357,000 | |||||||
Issuance of convertible preferred stock - net of issuance cost | 97,243 | ||||||||
Issuance of convertible preferred stock - net of issuance cost, Shares | 3,456,000 | ||||||||
Conversion of convertible preferred stock to common stock upon initial public offering | 193,160 | 25 | 193,135 | -193,160 | |||||
Conversion of convertible preferred stock to common stock upon initial public offering, Shares | 24,886,000 | -24,813,000 | |||||||
Reclassification of preferred stock warrant liabilities into additional paid-in capital | 912 | 912 | |||||||
Reclassification of preferred stock warrant liabilities into additional paid-in capital, Shares | 0 | 0 | 0 | 0 | 0 | 0 | |||
Issuance of common stock upon exercise of warrants | 0 | 0 | 0 | 0 | 0 | 0 | |||
Issuance of common stock upon exercise of warrants, Shares | 40,000 | ||||||||
Issuance of common stock upon initial public offering-net of offering costs | 119,924 | 6 | 119,918 | ||||||
Issuance of common stock upon initial public offering - net of offering costs, Shares | 5,750,000 | ||||||||
Issuance of common stock for acquisition of Few Ducks, S.L. | 1,627 | 1,627 | |||||||
Issuance of common stock for acquisition of Few Ducks, S.L., Shares | 108,000 | ||||||||
Issuance of common stock for acquisition of Few Ducks, S.L.-Escrow Shares | 188 | 188 | |||||||
Issuance of common stock upon exercise of stock options | 1,209 | 1,209 | |||||||
Issuance of common stock upon exercise of stock options, Share | 490,000 | 490,000 | |||||||
Issuance of restricted stock awards subject to vesting | 0 | 0 | 0 | 0 | 0 | 0 | |||
Issuance of restricted stock awards subject to vesting, Shares | 40,000 | ||||||||
Stock-based compensation expense | 12,649 | 12,649 | |||||||
Other comprehensive income, net | 15 | 15 | |||||||
Net loss | -50,149 | -50,149 | |||||||
Stockholders Equity, Ending Balance at Mar. 31, 2015 | $214,870 | $47 | $346,671 | ($263) | $15 | ($131,600) | |||
Stockholders Equity, Ending Balance, Shares at Mar. 31, 2015 | 47,377,000 | 260,000 | |||||||
Temporary Equity, Ending Balance, Shares at Mar. 31, 2015 | 0 |
Consolidated_Statements_of_Con1
Consolidated Statements of Convertible Preferred Stock and Stockholders' Equity (Deficit) (Parenthetical) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2013 |
Issuance of common stock upon initial public offering, offering costs | $3,069 | |
Series E Preferred Stock [Member] | Convertible Preferred Stock [Member] | ||
Issuance of convertible preferred stock, issuance cost | 233 | |
Series F Convertible Preferred Stock [Member] | Convertible Preferred Stock [Member] | ||
Issuance of convertible preferred stock, issuance cost | $2,757 |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 | Mar. 31, 2013 |
Cash flows from operating activities: | |||
Net loss | ($50,149) | ($40,225) | ($22,541) |
Adjustments to reconcile net loss to net cash used in operating activities: | |||
Depreciation and amortization | 9,044 | 4,536 | 1,916 |
Stock-based compensation expense | 11,666 | 6,220 | 8,686 |
Deferred tax | -422 | ||
Change in fair value of preferred stock warrant liability | 82 | 718 | 13 |
Other | 376 | 225 | 125 |
Changes in operating assets and liabilities, net of acquisition of business: | |||
Accounts receivable | -8,565 | -3,036 | -1,285 |
Prepaid expenses and other assets | -1,449 | -754 | -791 |
Accounts payable | 1,012 | 2,284 | 701 |
Accrued compensation and benefits and other liabilities | 4,790 | 2,069 | 1,194 |
Deferred revenue | 18,948 | 5,388 | 2,776 |
Deferred rent | 1,046 | 1,862 | 2,006 |
Net cash used in operating activities | -13,621 | -20,713 | -7,200 |
Cash flows from investing activities: | |||
Purchases of property and equipment | -12,628 | -9,758 | -5,698 |
Down payment for property and equipment | -1,269 | ||
Acquisition of Few Ducks, S.L., net of cash acquired | -2,262 | ||
Decrease (increase) in restricted cash | 978 | -1,001 | -4,600 |
Purchases of short-term investments | -114,468 | ||
Proceeds from sale and maturity of short-term investments | 18,717 | ||
Capitalized software development costs | -9,017 | -5,199 | -2,873 |
Net cash used in investing activities | -118,680 | -17,227 | -13,171 |
Cash flows from financing activities: | |||
Proceeds from issuances of preferred stock, net of issuance costs | 97,243 | 59,767 | |
Proceeds from initial public offering, net of issuance costs | 119,924 | ||
Principal payments on debt | -271 | ||
Proceeds from issuance of common stock | 1,209 | 294 | 255 |
Net cash provided by financing activities | 218,105 | 294 | 60,022 |
Net increase (decrease) in cash and cash equivalents | 85,804 | -37,646 | 39,651 |
Cash and cash equivalents, beginning of period | 19,453 | 57,099 | 17,448 |
Cash and cash equivalents, end of period | 105,257 | 19,453 | 57,099 |
Supplemental disclosure of cash flow information: | |||
Cash paid for interest | 91 | 52 | 66 |
Noncash investing and financing activities: | |||
Issuance of common stock for the acquisition of Few Ducks, S.L. | 1,826 | ||
Conversion and net exercise of preferred stock warrants | 632 | ||
Net exercise of preferred stock warrants in connection with the initial public offering | 280 | ||
Issuance of Series D warrants in connection with facility lease | 10 | ||
Vesting of early exercised options | 12 | ||
Property and equipment purchased but not paid yet | 464 | 619 | 1,479 |
Accrued initial public offering costs | $237 |
Description_of_Business_and_Su
Description of Business and Summary of Significant Accounting Policies | 12 Months Ended | |||
Mar. 31, 2015 | ||||
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 and Consolidation—The consolidated financial statements include the accounts of New Relic and its wholly owned subsidiaries. These consolidated financial statements have been prepared in accordance with United States generally accepted accounting principles, or GAAP. All intercompany balances and transactions have been eliminated in consolidation. | ||||
Foreign Currency Translation and Transactions—The functional currency of the Company’s foreign subsidiaries is the U.S. dollar. The Company translates all monetary assets and liabilities denominated in foreign currencies into U.S. dollars using the exchange rates in effect at the balance sheet dates and other assets and liabilities using historical exchange rates. | ||||
Foreign currency denominated revenue and expenses have been re-measured using the average exchange rates in effect during each period. Foreign currency re-measurement gains and losses have been included in other income (expense). | ||||
Initial Public Offering—In December 2014, New Relic completed its initial public offering, or IPO, in which the Company issued and sold 5,750,000 shares of common stock at a public offering price of $23.00 per share. The Company 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 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 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 consolidated financial statements and the reported amounts of income and expenses during the reporting period. Significant items subject to such estimates and assumptions include the fair value of the Company’s common and preferred stock and share-based awards, fair value of the preferred stock warrant liability, fair value of purchased intangible assets and goodwill, useful lives of purchased intangible assets, unrecognized tax benefits, and the capitalization and estimated useful life of the Company’s software development costs. These estimates are based on information available as of the date of the consolidated financial statements; therefore, actual results could differ from management’s estimates. | ||||
Segments—The Company’s chief operating decision maker is the Chief Executive Officer, who reviews financial information presented on a consolidated basis, accompanied by information about revenue by geographic region. Accordingly, the Company has determined that it has a single reportable segment. | ||||
Cash and Cash Equivalents—The Company considers all highly liquid investments with an original maturity of three months or less at the date of purchase to be cash and cash equivalents. | ||||
Restricted Cash—The Company has an agreement to maintain cash balances at a financial institution as collateral for two letters of credit relating to the Company’s property lease. | ||||
Short-term Investments—Short-term investments consist of money market funds, certificates of deposit, commercial paper, U.S. treasury securities, U.S. agency securities, and corporate debt 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 investments as other-than-temporarily impaired as of March 31, 2015. The Company did not have investments 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 the Company uses its 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, its 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, the Company records adjustments to the assets acquired and liabilities assumed, with the corresponding offset to goodwill to the extent that the Company identifies 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 the Company’s consolidated statements of operations. There has been no such adjustment as of March 31, 2015. | ||||
Property and Equipment—Property and equipment are stated at cost. Depreciation is calculated using the straight-line method over the estimated useful lives of the assets. The Company uses an estimated useful life of two years for employee-related computers and software, three years for other office equipment and site-related computer hardware, and five years for furniture. Leasehold improvements are amortized over the shorter of the lease-term or the estimated useful life of the related asset. Down payments for property and equipment are recorded at cost and included in other assets in the accompanying consolidated balance sheet. Once the corresponding property and equipment item has been received, it will be reclassified to property and equipment and amortized. | ||||
Convertible Preferred Stock Warrant Liability—Freestanding warrants to purchase convertible preferred stock are accounted for as liability awards and recorded at fair value on their initial issuance date and adjusted to fair value at each balance sheet date, with the change in fair value being recorded in other expense, net. Upon completion of the IPO, the Company’s preferred stock warrant liability was re-measured to fair value and any remaining liability was reclassified into stockholders’ equity (deficit). | ||||
Revenue Recognition—The Company generates revenue from subscription-based arrangements that allow customers to access its products. The Company recognizes revenue when all four of the following criteria are met: | ||||
• | There is persuasive evidence of an arrangement. | |||
• | The subscriptions have been or are being provided to the customer. | |||
• | The amount of fees to be paid by the customer is fixed or determinable. | |||
• | The collection is reasonably assured. | |||
Revenue from subscription-based arrangements is recognized ratably over the contractual period, generally from one to twelve months. All of the Company’s subscription-based arrangements are priced on a fixed-fee basis. | ||||
Deferred Revenue—Deferred revenue consists of billings or payments received in advance of revenue being recognized. The Company generally invoices its customers monthly, quarterly, or annually. Deferred revenue represents the amount that is expected to be recognized as revenue within one year of the balance sheet date. | ||||
Cost of Revenue—Cost of revenue consists of expenses relating to data center operations, hosting-related costs, payment processing fees, depreciation and amortization, consulting costs, and salaries and benefits of operations and global customer support personnel. | ||||
Accounts Receivable and Allowance for Doubtful Accounts—Accounts receivable are recorded at the invoiced amount, net of allowances for doubtful accounts. The allowance for doubtful accounts is based on the Company’s assessment of the collectability of accounts. The Company regularly reviews the adequacy of the allowance for doubtful accounts by considering the age of each outstanding invoice and the collection history of each customer to determine whether a specific allowance is appropriate. Accounts receivable deemed uncollectable are charged against the allowance for doubtful accounts when identified. For all periods presented, the allowance for doubtful accounts activity was not significant. | ||||
Software Development Costs—The Company capitalizes certain development costs incurred in connection with its internal use software and website. These capitalized costs are primarily related to its software analytics tools that are hosted by the Company and accessed by its customers on a subscription basis. Costs incurred in the preliminary stages of development are expensed as incurred. Once an application has reached the development stage, internal and external costs, if direct and incremental, are capitalized until the software is substantially complete and ready for its intended use. Capitalization ceases upon completion of all substantial testing. The Company also capitalizes costs related to specific upgrades and enhancements when it is probable the expenditures will result in additional features and functionality. Maintenance costs are expensed as incurred. Internal use software is amortized on a straight-line basis over its estimated useful life, generally three years. The Company capitalized $10.0 million, $5.5 million, and $3.0 million in internal use software during the fiscal years ended March 31, 2015, 2014, and 2013, respectively. Included in the capitalized development costs were $1.0 million, $0.3 million, and $0.1 million of stock-based compensation costs for the fiscal years ended March 31, 2015, 2014, and 2013, respectively. Amortization expense totaled $3.9 million, $2.1 million, and $1.1 million during the fiscal years ended March 31, 2015, 2014, and 2013, respectively. The net book value of capitalized internal use software as of March 31, 2015 and 2014, which is recorded in property and equipment on the accompanying consolidated balance sheets, was $12.6 million and $6.5 million, respectively. | ||||
Deferred Offering Costs—Deferred offering costs, consisting of legal, accounting, outside services, and filing fees related to the IPO are capitalized. The deferred offering costs were offset against proceeds from the IPO upon the effectiveness of the offering. As of March 31, 2015, the Company had capitalized no costs and, as of March 31, 2014, $0.2 million of deferred offering costs which are included in other assets in the accompanying consolidated balance sheets. | ||||
Commissions—Sales and marketing commissions are recognized as an expense at the time of the customer order. Substantially all of the effort by the sales and marketing organization is expended through the time of closing the sale. | ||||
Advertising Expenses—Advertising is expensed as incurred and is included in sales and marketing in the consolidated statements of operations. Advertising expense was $25.1 million, $22.4 million, and $10.0 million for the fiscal years ended March 31, 2015, 2014, and 2013, respectively. | ||||
Operating Leases—The Company leases office space and a data center facility under operating leases. Certain lease agreements contain rent holidays, allowances, and rent escalation provisions. The Company recognizes rent expense under such leases on a straight-line basis over the term of the lease. Lease renewal periods are considered on a lease-by-lease basis in determining the lease term. | ||||
Impairment of Long-Lived Assets—Long-lived assets, such as property and equipment, acquired intangible assets, and capitalized software development costs subject to amortization, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of the asset may not be recoverable. If circumstances require a long-lived asset be tested for possible impairment, the Company first compares undiscounted cash flows expected to be generated by the asset to its carrying value. If the carrying value of the long-lived asset is not recoverable on an undiscounted cash flow basis, an impairment is recognized to the extent that the carrying value exceeds its fair value. Fair value is determined through various valuation techniques, including discounted cash flow models, quoted market values, and third-party independent appraisals, as considered necessary. For the fiscal years presented, the Company had not impaired any of its long-lived assets. | ||||
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 March 31, 2015, 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. | ||||
Stock-Based Compensation—The Company estimates the fair value of share-based awards on the date of grant. The value of the portion of the award that is ultimately expected to vest is recognized as expense over the requisite service periods in the statements of operations. The Company recognizes compensation expense over the vesting period of the entire award using the straight-line attribution method. These amounts are reduced by an estimated forfeiture rate. The forfeiture rate is estimated based on actual cancellation experience and is applied to all share-based awards. The rate is estimated at the time of grant and revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates. | ||||
The Company selected the Black-Scholes option-pricing model as the method for determining the estimated fair value for stock options. The Black-Scholes option-pricing model requires the use of highly subjective and complex assumptions, which determine the fair value of share-based awards, including the option’s expected term and the price volatility of the underlying stock. | ||||
The authoritative guidance prohibits the recognition of a deferred tax asset for an excess tax benefit that has not yet been realized. As a result, the Company will only recognize a benefit from stock-based compensation in additional paid-in capital if an incremental tax benefit is realized or realizable after all other tax attributes currently available have been utilized. | ||||
Compensation expense related to equity instruments issued to nonemployees is recognized as the equity instruments vest. At each reporting date, the Company revalues the fair value and expense related to the unvested portion of such nonemployee awards. As a result, compensation expense related to unvested equity instruments issued to nonemployees fluctuates as the fair value of the Company’s common stock fluctuates. | ||||
Fair Value Measurements—The Company defines fair value as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining the fair value measurements for assets and liabilities that are required to be recorded at fair value, the Company considers the principal or most advantageous market in which to transact and the market-based risk. The Company applies fair value accounting for all financial assets and liabilities that are recognized or disclosed at fair value in the financial statements on a recurring basis. The carrying amounts reported in the consolidated financial statements approximate the fair value for cash and cash equivalents, restricted cash, short-term investments, accounts receivable, accounts payable, and accrued liabilities, due to their short-term nature. | ||||
Concentration of Risk—Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents, restricted cash, short-term investments, and trade accounts receivable. The Company invests its excess cash in money market funds, certificates of deposit, commercial paper, U.S. treasury securities, U.S. agency securities, and corporate debt securities with major financial institutions. Management believes that the financial institutions that hold the Company’s investments are financially sound and, accordingly, are subject to minimal credit risk. One customer accounted for 12% of accounts receivable as of March 31, 2015. There were no customers that represented more than 10% of the Company’s accounts receivable balance as of March 31, 2014. In addition, there were no customers that individually exceeded 10% of the Company’s revenue during the fiscal years ended March 31, 2015, 2014, and 2013. | ||||
Income Taxes—The Company accounts for income taxes using the asset and liability method, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been recognized in the Company’s financial statements or tax returns. In addition, deferred tax assets are recorded for the future benefit of utilizing net operating losses and research and development credit carryforwards. Valuation allowances are provided when necessary to reduce deferred tax assets to the amount expected to be realized. | ||||
The Company applies the authoritative accounting guidance prescribing a threshold and measurement attribute for the financial recognition and measurement of a tax position taken or expected to be taken in a tax return. The Company recognizes liabilities for uncertain tax positions based on a two-step process. The first step is to evaluate the tax position for recognition by determining if the weight of available evidence indicates that it is more likely than not that the position will be sustained on audit, including resolution of related appeals or litigation processes, if any. The second step requires the Company to estimate and measure the tax liability as the largest amount that is more likely than not to be realized upon ultimate settlement. | ||||
Net Loss Per Share Attributable to Common Stockholders—The Company calculates its basic and diluted net loss per share attributable to common stockholders in conformity with the two-class method required for companies with participating securities. Under the two-class method, in periods when the Company has net income, net income attributable to common stockholders is determined by allocating undistributed earnings, calculated as net income less current period convertible preferred stock non-cumulative dividends, between common stock and the convertible preferred stock. In computing diluted net income attributable to common stockholders, undistributed earnings are re-allocated to reflect the potential impact of dilutive securities. The Company’s basic net loss per share attributable to common stockholders is calculated by dividing the net loss attributable to common stockholders by the weighted-average number of shares of common stock outstanding for the period. The diluted net loss per share attributable to common stockholders is computed by giving effect to all potential dilutive common stock equivalents outstanding for the period. For purposes of this calculation, convertible preferred stock, options to purchase common stock, and convertible preferred stock warrants are considered common stock equivalents but have been excluded from the calculation of diluted net loss per share attributable to common stockholders as their effect is antidilutive. | ||||
Recent Accounting Pronouncements—In May 2014, the Financial Accounting Standards Board, or FASB, issued Accounting Standards Update 2014-09, Revenue from Contracts with Customers, 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 its fiscal year beginning April 1, 2017; early adoption is not permitted. On April 29, 2015, the FASB issued for public comment a proposed Accounting Standards Update (ASU) that would defer the effective date of the new revenue recognition standard by one year. The Company is currently evaluating the impact of this new standard on its consolidated financial statements, as well as which transition method it intends to use. | ||||
In August 2014, the FASB issued Accounting Standards Update No. 2014-15, Presentation of Financial Statements—Going Concern (Subtopic 205-40): Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern. The Update is intended to define management’s responsibility to evaluate whether there is substantial doubt about an organization’s ability to continue as a going concern and to provide related footnote disclosures. The standard will be effective for the Company in the fiscal year beginning April 1, 2016; early adoption is permitted. The Company is currently evaluating the impact of this new standard on its disclosures within the notes to the consolidated financial statements. | ||||
Business_Combination
Business Combination | 12 Months Ended | |
Mar. 31, 2015 | ||
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 Company expensed the related acquisition costs of $0.2 million in general and administrative expenses. The addition of the Ducksboard technology complements the Company’s visualization expertise and the Company believes it 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 purpose. Pro forma revenue and results of operations have not been presented because the historical results of Ducksboard were not material to our consolidated financial statements in any period presented. | ||
In connection with the acquisition, the Company may also issue 128,507 shares of its common stock, with a grant date fair value of $1.9 million, to certain employees of Ducksboard, contingent upon their continuous employment with the Company. Compensation expense will be recorded ratably over the respective service period of 3 years. |
Fair_Value_Measurements
Fair Value Measurements | 12 Months Ended | ||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||
Fair Value Disclosures [Abstract] | |||||||||||||||||
Fair Value Measurements | 3 | Fair Value Measurements | |||||||||||||||
The Company reports assets and liabilities recorded at fair value on the Company’s consolidated balance sheets based upon the level of judgment associated with inputs used to measure their fair value. The categories are as follows: | |||||||||||||||||
Level 1—Inputs are unadjusted quoted prices in active markets for identical assets or liabilities. | |||||||||||||||||
Level 2—Inputs are quoted prices for similar assets and liabilities in active markets; quoted prices for identical assets or liabilities in markets with insufficient volume or infrequent transactions (less active markets); or inputs other than quoted prices that are observable for the assets or liabilities, either directly or indirectly through market corroboration, for substantially the full term of the financial instruments. | |||||||||||||||||
Level 3—Inputs are unobservable inputs based on the Company’s own assumptions used to measure assets and liabilities at fair value. The inputs require significant management judgment or estimation. | |||||||||||||||||
The following tables present information about the Company’s financial assets measured at fair value on a recurring basis as of March 31, 2015 and 2014 based on the three-tier fair value hierarchy (in thousands): | |||||||||||||||||
Fair Value Measurements as of | |||||||||||||||||
March 31, 2015 | |||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
Description: | |||||||||||||||||
Money market funds | $ | 56,455 | $ | — | $ | — | $ | 56,455 | |||||||||
Certificates of deposit | — | 1,800 | — | 1,800 | |||||||||||||
Commercial paper | — | 30,288 | — | 30,288 | |||||||||||||
Corporate notes and bonds | — | 38,715 | — | 38,715 | |||||||||||||
U.S. treasury securities | 500 | — | — | 500 | |||||||||||||
U.S. government agencies | — | 33,199 | — | 33,199 | |||||||||||||
Restricted cash—money market funds | 4,623 | — | — | 4,623 | |||||||||||||
Total | $ | 61,578 | $ | 104,002 | $ | — | $ | 165,580 | |||||||||
Included in cash and cash equivalents | $ | 65,454 | |||||||||||||||
Included in short-term investments | $ | 95,503 | |||||||||||||||
Included in restricted cash | $ | 4,623 | |||||||||||||||
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 | |||||||||||||||
There were no transfers between fair value measurement levels during the fiscal year ended March 31, 2015. | |||||||||||||||||
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. During the fiscal years ended March 31, 2015, 2014, and 2013, the Company recognized charges in the amount of $82,000, $0.7 million, and $13,000, respectively, which was recorded as other expense in the Company’s consolidated statements 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 and Series D 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 $0.9 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 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. | |||||||||||||||||
Immediately prior to the close of the IPO and as of March 31, 2014, the Company determined the fair value of the outstanding convertible preferred stock warrants utilizing the following assumptions: | |||||||||||||||||
Prior to Close | As of | ||||||||||||||||
of IPO on | March 31, | ||||||||||||||||
December 17, | |||||||||||||||||
2014 | 2014 | ||||||||||||||||
Remaining contractual term (in years) | 0.0 - 3.7 | 4.4 - 8.4 | |||||||||||||||
Risk-free interest rate | 0.0 - 1.4% | 1.5 - 2.5% | |||||||||||||||
Volatility | 45% | 50% | |||||||||||||||
Dividend yield | — | — | |||||||||||||||
The above assumptions were determined as follows: | |||||||||||||||||
Remaining Contractual Term—The remaining contractual term represented the time from the date of the valuation to the expiration of the warrant. | |||||||||||||||||
Risk-Free Interest Rate—The risk-free interest rate was based on the U.S. Treasury yield in effect as of December 17, 2014 and March 31, 2014, and for zero coupon U.S. Treasury notes with maturities approximately equal to the term of the warrant. | |||||||||||||||||
Volatility—The volatility was derived from historical volatilities of several unrelated publicly listed peer companies over a period approximately equal to the term of the warrant because the Company had limited information on the volatility of the preferred stock since there was no trading history. When making the selections of industry peer companies to be used in the volatility calculation, the Company considered the size, operational, and economic similarities to the Company’s principle business operations. | |||||||||||||||||
Dividend Yield—The expected dividend assumption was based on the Company’s expectations about its dividend policy. | |||||||||||||||||
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 warrant to purchase shares of the Company’s Series A convertible preferred stock that was converted into a warrant to purchase shares of the Company’s common stock was net exercised for an aggregate of 27,573 shares of common stock in January 2015. | |||||||||||||||||
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 March 31, 2015 | $ | — | |||||||||||||||
Gross unrealized gains or losses for cash equivalents and available-for-sale marketable securities as of March 31, 2015 and 2014 were not material. As of March 31, 2015 and 2014, there were no securities that were in an unrealized loss position for more than 12 months. | |||||||||||||||||
The following table classifies the Company’s available-for-sale short-term investments by contractual maturities as of March 31, 2015 and 2014 (in thousands): | |||||||||||||||||
March 31, | March 31, | ||||||||||||||||
2015 | 2014 | ||||||||||||||||
Due in one year | $ | 53,287 | $ | — | |||||||||||||
Due in one to two years | 42,216 | — | |||||||||||||||
Total | $ | 95,503 | $ | — | |||||||||||||
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. | |||||||||||||||||
Property_and_Equipment
Property and Equipment | 12 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Property, Plant and Equipment [Abstract] | |||||||||
Property and Equipment | 4 | Property and Equipment | |||||||
Property and equipment, net, consisted of the following (in thousands): | |||||||||
March 31, | March 31, | ||||||||
2015 | 2014 | ||||||||
Computers, software, and equipment | $ | 2,985 | $ | 1,983 | |||||
Site operation equipment | 6,383 | 2,535 | |||||||
Furniture and fixtures | 868 | 494 | |||||||
Leasehold improvements | 20,513 | 12,355 | |||||||
Capitalized software development costs | 21,402 | 11,444 | |||||||
Total property and equipment | 52,151 | 28,811 | |||||||
Less: accumulated depreciation and amortization | (16,754 | ) | (8,628 | ) | |||||
Total property and equipment, net | $ | 35,397 | $ | 20,183 | |||||
Depreciation and amortization expense related to property and equipment during the fiscal years ended March 31, 2015, 2014, and 2013 was $8.5 million, $4.5 million, and $1.9 million, respectively. |
Goodwill_and_Purchased_Intangi
Goodwill and Purchased Intangibles Assets | 12 Months Ended | ||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||
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 fiscal year ended March 31, 2015 are as follows (in thousands): | |||||||||||||||||
Goodwill as of March 31, 2014 | $ | — | |||||||||||||||
Goodwill acquired | 2,053 | ||||||||||||||||
Goodwill as of March 31, 2015 | $ | 2,053 | |||||||||||||||
Purchased intangible assets subject to amortization as of March 31, 2015 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 | $ | (400 | ) | $ | 2,000 | 2.5 | |||||||||
Customer relationships | 100 | (25 | ) | 75 | 1.5 | ||||||||||||
Other intangible assets | 300 | (75 | ) | 225 | 1.5 | ||||||||||||
$ | 2,800 | $ | (500 | ) | $ | 2,300 | |||||||||||
Amortization expense of purchased intangible assets for the fiscal year ended March 31, 2015 was $0.5 million. No amortization expense was recorded for the fiscal years ended March 31, 2014 and 2013. | |||||||||||||||||
Estimated future amortization expense as of March 31, 2015 is as follows (in thousands): | |||||||||||||||||
2016 | $ | 1,000 | |||||||||||||||
2017 | 900 | ||||||||||||||||
2018 | 400 | ||||||||||||||||
2019 and thereafter | — | ||||||||||||||||
$ | 2,300 | ||||||||||||||||
Other_Current_Liabilities
Other Current Liabilities | 12 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Text Block [Abstract] | |||||||||
Other Current Liabilities | 6 | Other Current Liabilities | |||||||
Other current liabilities consisted of the following (in thousands): | |||||||||
As of March 31, | |||||||||
2015 | 2014 | ||||||||
Deferred tax liability | $ | 913 | $ | 392 | |||||
Accrued liabilities | 1,365 | 1,167 | |||||||
Accrued tax liabilities | 345 | — | |||||||
Deferred rent | 301 | 287 | |||||||
Other | 699 | 314 | |||||||
Total other current liabilities | $ | 3,623 | $ | 2,160 | |||||
Commitments_and_Contingencies
Commitments and Contingencies | 12 Months Ended | ||||
Mar. 31, 2015 | |||||
Commitments and Contingencies Disclosure [Abstract] | |||||
Commitments and Contingencies | 7 | 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 March 31, 2015 and 2014, $4.9 million and $3.9 million, respectively, was recorded as deferred rent. | |||||
Rent expense, net of sublease income, for operating leases was $5.2 million, $4.7 million, and $1.1 million for the fiscal years ended March 31, 2015, 2014, and 2013, respectively. For the fiscal years ended March 31, 2015, 2014, and 2013, rent expense was offset by $0.7 million, $0.7 million, and $23,000 of sublease income, respectively. | |||||
Future minimum lease payments under non-cancelable operating leases as of March 31, 2015 were as follows (in thousands): | |||||
Years Ending March 31, | Operating Leases | ||||
2016 | $ | 5,741 | |||
2017 | 6,267 | ||||
2018 | 6,495 | ||||
2019 | 6,629 | ||||
2020 | 6,807 | ||||
Thereafter | 8,139 | ||||
Total minimum future lease payments | $ | 40,078 | |||
Future minimum sublease income under non-cancelable operating leases is $34,000 for the fiscal year ending March 31, 2016. | |||||
Purchase Commitments—As of March 31, 2015 and 2014, the Company had purchase commitments of $3.6 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 case was reassigned to a new judge in March 2014 and a trial date is not currently set. 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 March 31, 2015. | |||||
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 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. |
Convertible_Preferred_Stock
Convertible Preferred Stock | 12 Months Ended | ||||||||||||
Mar. 31, 2015 | |||||||||||||
Text Block [Abstract] | |||||||||||||
Convertible Preferred Stock | 8 | Convertible Preferred Stock | |||||||||||
As of the March 31, 2014, the Company’s outstanding convertible preferred stock consisted of the following (in thousands): | |||||||||||||
Shares Authorized | Shares Issued and Outstanding | Liquidation Preference | |||||||||||
Series A | 7,028 | 7,000 | $ | 3,500 | |||||||||
Series B | 6,492 | 6,492 | 7,940 | ||||||||||
Series C | 2,852 | 2,852 | 9,943 | ||||||||||
Series D | 1,643 | 1,566 | 15,000 | ||||||||||
Series E | 4,308 | 3,447 | 60,000 | ||||||||||
22,323 | 21,357 | $ | 96,383 | ||||||||||
In April 2014, the Company sold 3,456,140 shares of Series F convertible preferred stock (“Series F”) at a price of $28.93 per share, receiving net proceeds of $97.2 million. Holders of the Company’s Series F voted together with the holders of the Company’s common stock and convertible preferred stock, with each share of Series F having a number of votes equal to the number of shares of common stock issuable upon the conversion of each share of Series F. In a liquidation event, holders of Series F were entitled to receive, ratably with the Series E convertible preferred stock and in preference to the holders of all other classes of convertible preferred stock, an amount equal to the original issuance price of the Series F plus any declared but unpaid dividends. The holders of Series F had the right to convert, at any time, into shares of common stock at an initial conversion ratio of 1:1, subject to adjustment based on antidilution protection, and all outstanding Series F would automatically convert into shares of common stock in the event that (i) the holders of a majority of outstanding Series F consent to conversion or (ii) immediately prior to the closing of a qualified IPO. 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. | |||||||||||||
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. | |||||||||||||
Convertible preferred stock immediately prior to the conversion into common stock consisted of the following (in thousands): | |||||||||||||
Shares Authorized | Shares Issued and Outstanding | Liquidation Preference | |||||||||||
Series A | 7,028 | 7,000 | $ | 3,500 | |||||||||
Series B | 6,492 | 6,492 | 7,940 | ||||||||||
Series C | 2,852 | 2,852 | 9,943 | ||||||||||
Series D | 1,643 | 1,566 | 15,000 | ||||||||||
Series E | 3,447 | 3,447 | 60,000 | ||||||||||
Series F | 3,500 | 3,456 | 100,000 | ||||||||||
24,962 | 24,813 | $ | 196,383 | ||||||||||
Stock_Transactions
Stock Transactions | 12 Months Ended | |
Mar. 31, 2015 | ||
Text Block [Abstract] | ||
Stock Transactions | 9 | Stock Transactions |
In February 2013, certain of the Company’s existing investors conducted a tender offer to acquire approximately 862,000 shares of outstanding common stock from employees and other existing common stockholders at a purchase price of $17.4089 per share. As a result of this transaction, the Company recorded a total of $7.3 million in share-based compensation expense for the difference between the price paid and the estimated fair market value on the date of the transaction. Of the total share-based compensation expense, the Company recorded $0.2 million, $1.4 million, $1.8 million, and $3.9 million in cost of revenue, research and development, sales and marketing, and general and administrative expenses, respectively, for the fiscal year ended March 31, 2013. | ||
In August 2013 and December 2013, certain of the Company’s existing investors acquired approximately 347,000 shares of outstanding common stock from employees and a former employee at a purchase price of $17.4089 per share. As a result, the Company recorded a total of $2.4 million in share-based compensation expense for the difference between the price paid and the estimated fair market value on the date of the transaction. Of the total share-based compensation expense, the Company recorded $0.8 million, $0.2 million, and $1.4 million in research and development, sales and marketing, and general and administrative expenses, respectively, for the fiscal year ended March 31, 2014. | ||
In connection with these tender offers, the Company waived any rights of first refusal or other transfer restrictions applicable to such shares. |
Common_Stock_and_Stockholders_
Common Stock and Stockholders' Equity (Deficit) | 12 Months Ended | ||||||||||||||||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||||||||||||||||
Equity [Abstract] | |||||||||||||||||||||||||||||||||
Common Stock and Stockholders' Equity (Deficit) | 10 | Common Stock and Stockholders’ Equity (Deficit) | |||||||||||||||||||||||||||||||
Common stock reserved for issuance—The Company had reserved shares of common stock for future issuance as follows (in thousands): | |||||||||||||||||||||||||||||||||
As of March 31, | |||||||||||||||||||||||||||||||||
2015 | 2014 | ||||||||||||||||||||||||||||||||
Conversion of preferred stock | — | 21,357 | |||||||||||||||||||||||||||||||
Warrants to purchase convertible preferred stock | — | 49 | |||||||||||||||||||||||||||||||
Common stock options outstanding | 9,422 | 6,923 | |||||||||||||||||||||||||||||||
RSUs outstanding | 723 | — | |||||||||||||||||||||||||||||||
Common stock reserved for issuance in connection with acquisition | 129 | ||||||||||||||||||||||||||||||||
Available for future stock option and RSU grants | 5,149 | 298 | |||||||||||||||||||||||||||||||
Available for future employee stock purchase plan awards | 1,000 | — | |||||||||||||||||||||||||||||||
16,423 | 28,627 | ||||||||||||||||||||||||||||||||
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 by the Company’s board of directors. For the year ended March 31, 2015, there were no offering periods. | |||||||||||||||||||||||||||||||||
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 Plan was terminated in connection with the Company’s IPO, and accordingly, no shares are available for future issuance under this plan. The 2008 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 the Company’s 2008 Plan. The 2014 Plan initially reserved and authorized the issuance of 5,000,000 shares of the Company’s common stock. Additionally, shares not issued or subject to outstanding grants under the 2008 Plan upon its termination 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 March 31, 2015, there were 5,148,501 shares available for issuance under the 2014 Plan. | |||||||||||||||||||||||||||||||||
The following table summarizes the Company’s stock option and RSU award activities for the fiscal year ended March 31, 2015 (in thousands, except per share information): | |||||||||||||||||||||||||||||||||
Options Outstanding | RSUs Outstanding | ||||||||||||||||||||||||||||||||
Number | Weighted- | Weighted- | Aggregate | Number | Weighted- | Weighted- | Aggregate | ||||||||||||||||||||||||||
of Shares | Average | Average | Intrinsic Value | of Shares | Average | Average | Intrinsic Value | ||||||||||||||||||||||||||
Exercise | Remaining | Grant | Remaining | ||||||||||||||||||||||||||||||
Price | Contractual | Date | Contractual | ||||||||||||||||||||||||||||||
Term | Fair | Term | |||||||||||||||||||||||||||||||
(in years) | Value | (in years) | |||||||||||||||||||||||||||||||
Outstanding—April 1, 2014 | 6,923 | $ | 4.86 | — | $ | — | |||||||||||||||||||||||||||
Stock options granted | 3,595 | 19.08 | |||||||||||||||||||||||||||||||
RSU granted | 733 | 23.85 | |||||||||||||||||||||||||||||||
Stock options exercised | (490 | ) | 2.47 | ||||||||||||||||||||||||||||||
Stock options canceled/forfeited | (606 | ) | 10.02 | ||||||||||||||||||||||||||||||
RSU canceled/forfeited | (10 | ) | 23 | ||||||||||||||||||||||||||||||
Outstanding—March 31, 2015 | 9,422 | $ | 10.08 | 7.9 | $ | 231,964 | 723 | $ | 23.87 | 3.5 | $ | 25,098 | |||||||||||||||||||||
Options vested and expected to vest— March 31, 2015 | 8,379 | $ | 9.54 | 7.8 | $ | 210,774 | |||||||||||||||||||||||||||
Options vested and exercisable— March 31, 2015 | 4,152 | $ | 4.12 | 6.7 | $ | 126,989 | |||||||||||||||||||||||||||
RSUs expected to vest— March 31, 2015 | 638 | $ | 23.6 | 3.5 | $ | 22,156 | |||||||||||||||||||||||||||
The weighted-average grant-date fair value of options granted during the fiscal years ended March 31, 2015, 2014, and 2013 was $9.20, $6.42, and $2.04, respectively. Intrinsic value of options exercised during the fiscal years ended March 31, 2015, 2014, and 2013 was $8.7 million, $2.1 million, and $2.6 million, respectively. | |||||||||||||||||||||||||||||||||
Aggregate intrinsic value for options and RSUs outstanding represents the difference between the closing stock price of the Company’s common stock and the exercise price of outstanding, in-the-money awards. The Company’s closing stock price as reported on the New York Stock Exchange as of March 31, 2015 was $34.70. | |||||||||||||||||||||||||||||||||
Employee Stock Options Valuation—The Company estimates the fair value of stock options on the date of grant using the Black-Scholes option-pricing model. Each of the Black-Scholes inputs is subjective and generally requires significant judgments to determine. The assumptions used to estimate the fair value of stock options granted during the fiscal years ended March 31, 2015, 2014, and 2013 were as follows: | |||||||||||||||||||||||||||||||||
Year Ended March 31, | |||||||||||||||||||||||||||||||||
2015 | 2014 | 2013 | |||||||||||||||||||||||||||||||
Expected term (years) | 5 - 6 | 5 - 6 | 6-May | ||||||||||||||||||||||||||||||
Expected volatility | 45 - 51% | 47 - 52% | 50 - 53% | ||||||||||||||||||||||||||||||
Risk-free interest rate | 1.40 - 2.01% | 0.74 - 1.87% | 0.67 - 0.97% | ||||||||||||||||||||||||||||||
Dividend yield | — | — | — | ||||||||||||||||||||||||||||||
Fair Value of Common Stock | |||||||||||||||||||||||||||||||||
Prior to its IPO, the fair value of the common stock underlying the stock-based awards was determined by the Company’s board of directors. Given the absence of a public trading market, the Company’s board of directors considered numerous objective and subjective factors to determine the fair value of the Company’s common stock at each meeting at which awards were approved. These factors included, but were not limited to (i) contemporaneous third-party valuations of common stock; (ii) the rights and preferences of convertible preferred stock relative to common stock; (iii) the lack of marketability of common stock; (iv) developments in the business; and (v) the likelihood of achieving a liquidity event, such as an IPO or sale of the Company, given prevailing market conditions. Since the Company’s IPO, it has used the market closing price of its common stock as reported on the New York Stock Exchange. | |||||||||||||||||||||||||||||||||
Risk-Free Interest Rate | |||||||||||||||||||||||||||||||||
The Company bases the risk-free interest rate used in the Black-Scholes option-pricing model on the implied yield available on U.S. Treasury zero-coupon issues with an equivalent expected term of the options for each option group. | |||||||||||||||||||||||||||||||||
Expected Term | |||||||||||||||||||||||||||||||||
The expected term represents the period that the Company’s stock-based awards are expected to be outstanding. The Company bases the expected term assumption on its historical behavior combined with estimates of post-vesting holding period. | |||||||||||||||||||||||||||||||||
Expected Volatility | |||||||||||||||||||||||||||||||||
The Company determines the price volatility factor based on the historical volatilities of its peer group as the Company did not have significant trading history for its common stock. | |||||||||||||||||||||||||||||||||
Dividend Yield | |||||||||||||||||||||||||||||||||
The expected dividend assumption is based on the Company’s current expectations about its anticipated dividend policy. | |||||||||||||||||||||||||||||||||
Restricted Stock Awards—During the fiscal years ended March 31, 2015 and 2014, 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 and $0.9 million or $9.37 per share for awards granted during the fiscal years ended March 31, 2015 and 2014, respectively. Stock-based compensation expense recognized related to these restricted stock awards was $0.4 million and $0.2 million for the fiscal years ended March 31, 2015 and 2014, respectively. The Company recognizes the expense using a straight-line basis over the requisite service periods of the award. | |||||||||||||||||||||||||||||||||
Stock Options Granted to Nonemployees—During the fiscal years ended March 31, 2015, 2014, and 2013, the Company granted 181,095 shares, 7,000 shares, and 300 shares, respectively, to nonemployee consultants and recorded stock-based compensation expense of $0.8 million, $0.2 million, $0.1 million, respectively. | |||||||||||||||||||||||||||||||||
Stock-Based Compensation Expense—Stock-based compensation expense for both employees and nonemployees was $11.7 million, $6.2 million, and $8.7 million for the fiscal years ended March 31, 2015, 2014, and 2013, respectively. Cost of revenue, research and development, sales and marketing, and general and administrative expenses were as follows (in thousands): | |||||||||||||||||||||||||||||||||
Year Ended March 31, | |||||||||||||||||||||||||||||||||
2015 | 2014 | 2013 | |||||||||||||||||||||||||||||||
Cost of revenue | $ | 591 | $ | 159 | $ | 212 | |||||||||||||||||||||||||||
Research and development | 2,055 | 1,425 | 1,620 | ||||||||||||||||||||||||||||||
Sales and marketing | 5,108 | 1,373 | 2,060 | ||||||||||||||||||||||||||||||
General and administrative | 3,912 | 3,263 | 4,794 | ||||||||||||||||||||||||||||||
Total stock-based compensation expense | $ | 11,666 | $ | 6,220 | $ | 8,686 | |||||||||||||||||||||||||||
As of March 31, 2015, unrecognized stock-based compensation cost related to outstanding unvested stock awards, net of estimated forfeitures, was $46.4 million, which is expected to be recognized over a weighted-average period of approximately 3.2 years. | |||||||||||||||||||||||||||||||||
Income_Taxes
Income Taxes | 12 Months Ended | ||||||||||||
Mar. 31, 2015 | |||||||||||||
Income Tax Disclosure [Abstract] | |||||||||||||
Income Taxes | 11 | Income Taxes | |||||||||||
The components of loss before incomes taxes are as follows: | |||||||||||||
Year Ended March 31, | |||||||||||||
2015 | 2014 | 2013 | |||||||||||
Domestic | $ | (50,031 | ) | $ | (40,237 | ) | $ | (22,541 | ) | ||||
Foreign | (203 | ) | 12 | — | |||||||||
Total | $ | (50,234 | ) | $ | (40,225 | ) | $ | (22,541 | ) | ||||
The Company recorded an income tax benefit of $85,000 for the year ended March 31, 2015. This benefit is largely attributable to the deferred benefits associated with the amortization of Spanish intangible assets and tax effect of the unrealized gain on short-term investments, partially offset with state minimum taxes and foreign income taxes associated with the Company’s non-US operations. The Company continues to maintain a valuation allowance for its U.S. federal and state deferred tax assets. The components of the provision for income taxes for the fiscal year ended March 31, 2015 are as follows (in thousands): | |||||||||||||
Current provision: | |||||||||||||
Federal | $ | — | |||||||||||
State | — | ||||||||||||
Foreign | 334 | ||||||||||||
Total current provision | $ | 334 | |||||||||||
Deferred provision: | |||||||||||||
Federal | $ | (8 | ) | ||||||||||
State | — | ||||||||||||
Foreign | (411 | ) | |||||||||||
Total deferred provision | (419 | ) | |||||||||||
Total income tax provision | $ | (85 | ) | ||||||||||
The Company did not record an income tax provision for the years ended March 31, 2014 and 2013. | |||||||||||||
A reconciliation of the federal statutory tax rate to the Company’s effective tax rate is as follows: | |||||||||||||
Year Ended March 31, | |||||||||||||
2015 | 2014 | 2013 | |||||||||||
Federal statutory rate | 34 | % | 34 | % | 34 | % | |||||||
Effect of: | |||||||||||||
State taxes, net of federal benefits | 1.5 | 1.7 | 5.2 | ||||||||||
Stock-based compensation | (4.5 | ) | (4.9 | ) | (11.4 | ) | |||||||
Research and development credit | 1.8 | 1.9 | 1.2 | ||||||||||
Valuation allowance | (32.6 | ) | (32.7 | ) | (29.0 | ) | |||||||
Effective tax rate | 0.2 | % | — | % | — | % | |||||||
The components of the Company’s net deferred tax assets and liabilities as of March 31, 2015 and 2014, were as follows (in thousands): | |||||||||||||
As of March 31, | |||||||||||||
2015 | 2014 | ||||||||||||
Deferred tax assets: | |||||||||||||
Accrued expenses | $ | 2,345 | $ | 1,222 | |||||||||
Depreciation and amortization | 1,290 | 694 | |||||||||||
Net operating loss carryforwards | 38,837 | 24,434 | |||||||||||
Stock based compensation | 3,312 | 968 | |||||||||||
Research and development credits | 3,046 | 1,770 | |||||||||||
Gross deferred tax assets | 48,830 | 29,088 | |||||||||||
Valuation allowance | (43,710 | ) | (26,848 | ) | |||||||||
Total deferred tax assets | 5,120 | 2,240 | |||||||||||
Deferred tax liabilities: | |||||||||||||
Prepaids | (1,026 | ) | — | ||||||||||
Intangibles | (85 | ) | — | ||||||||||
Capitalized research and development | (4,088 | ) | (2,240 | ) | |||||||||
Total deferred tax liabilities | (5,199 | ) | (2,240 | ) | |||||||||
Total net deferred tax assets (liabilities) | $ | (79 | ) | $ | — | ||||||||
Recognition of deferred tax assets is appropriate when realization of such assets is more likely than not. Management assesses the available positive and negative evidence to estimate if sufficient taxable income will be generated to use the existing deferred tax assets. Based upon the weight of available evidence, which includes the Company’s historical operating performance and the U.S. cumulative net losses in all prior periods, the Company has provided a valuation allowance against its U.S. deferred tax assets. The Company’s valuation allowance increased by $16.9 million and $13.4 million for the fiscal years ended March 31, 2015 and 2014, respectively. | |||||||||||||
As of March 31, 2015, the Company had U.S. federal and state net operating losses of $112.7 million and $54.5 million respectively, which expire beginning in the year 2028 and 2024, respectively. Of these amounts, $6.8 million and $5.4 million, respectively, represented federal and state tax deductions from stock-based compensation which will be recorded as an adjustment to additional paid-in capital when they reduce taxes payable. The Company also has federal, California, and Oregon research and development credits of $1.9 million, $0.6 million, and $0.5 million, respectively. The federal tax credit carryforwards will expire beginning in 2028 if not utilized. The California tax credit carryforwards do not expire. The Oregon tax credit carryforwards will expire beginning in 2015 if not utilized. | |||||||||||||
Utilization of the net operating loss carryforwards may be subject to a substantial annual limitation due to the ownership change limitations provided by the Internal Revenue Code of 1986, as amended (“Code”), and similar state provisions. The annual limitation may result in the expiration of net operating losses and credits before utilization. | |||||||||||||
Code Section 382 (“Section 382”) ownership change generally occurs if one or more stockholders or groups of stockholders who own at least 5% of the Company’s stock increase their ownership by more than 50 percentage points over their lowest ownership percentage within a rolling three-year period. Similar rules may apply under state tax laws. The Company experienced an ownership change in connection with its Series C convertible preferred stock financing in October 2010 and determined that none of its net operating losses or other tax attributes expire subject to such limitation. | |||||||||||||
The Company has not provided U.S. income tax on certain foreign earnings that are deemed to be indefinitely invested outside the U.S. As of March 31, 2015, 2014, and 2013, the amount of accumulated unremitted earnings from the Company’s foreign subsidiaries was approximately $0.1 million, $33,000, and $0, respectively. Determination of the amount of unrecognized deferred U.S. income tax liability is not practical due to the complexities associated with the hypothetical calculation. | |||||||||||||
The Company had unrecognized tax benefits of $1.8 million, $0.7 million, and $0.6 million as of March 31, 2015, 2014 and 2013. As of March 31, 2015, if recognized, the unrecognized tax benefit of $1.8 million would affect income tax expense, before consideration of any valuation allowance. The Company does not expect the unrecognized tax benefits to change significantly over the next 12 months. | |||||||||||||
A reconciliation of the beginning and ending amount of unrecognized tax benefits was as follows (in thousands): | |||||||||||||
Balance at March 31, 2012 | $ | 338 | |||||||||||
Additions based on tax positions taken during the current period | 229 | ||||||||||||
Additions based on tax positions taken during the prior period | 30 | ||||||||||||
Reductions based on tax positions taken during the prior period | — | ||||||||||||
Balance at March 31, 2013 | 597 | ||||||||||||
Additions based on tax positions taken during the current period | 367 | ||||||||||||
Additions based on tax positions taken during the prior period | 46 | ||||||||||||
Reductions based on tax positions taken during the prior period | (275 | ) | |||||||||||
Balance at March 31, 2014 | 735 | ||||||||||||
Additions based on tax positions taken during the current period | 1,009 | ||||||||||||
Additions based on tax positions taken during the prior period | 84 | ||||||||||||
Reductions based on tax positions taken during the prior period | (2 | ) | |||||||||||
Balance at March 31, 2015 | $ | 1,826 | |||||||||||
The Company recognizes interest and penalties related to unrecognized tax benefits within the income tax expense line in the consolidated statement of operations. Accrued interest and penalties have not been material for the fiscal years ended March 31, 2015, 2014, and 2013. | |||||||||||||
The Company files income tax returns in the U.S., certain states, Ireland, UK, and Spain. All of the tax years, from the date of inception, are open for examination for foreign jurisdictions. Carryover attributes beginning March 31, 2008 remain open to adjustment by the U.S. and state authorities. | |||||||||||||
Net_Loss_Per_Share
Net Loss Per Share | 12 Months Ended | ||||||||||||
Mar. 31, 2015 | |||||||||||||
Earnings Per Share [Abstract] | |||||||||||||
Net Loss Per Share | 12 | 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 fiscal years ended March 31, 2015, 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): | |||||||||||||
Year Ended March 31, | |||||||||||||
2015 | 2014 | 2013 | |||||||||||
Numerator: | |||||||||||||
Net loss | $ | (50,149 | ) | $ | (40,225 | ) | $ | (22,541 | ) | ||||
Denominator: | |||||||||||||
Weighted average shares used to compute net loss per share attributable to common stockholder, basic and diluted | 25,290 | 15,596 | 15,096 | ||||||||||
Net loss per share—basic and diluted | $ | (1.98 | ) | $ | (2.58 | ) | $ | (1.49 | ) | ||||
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): | |||||||||||||
As of March 31, | |||||||||||||
2015 | 2014 | 2013 | |||||||||||
Convertible preferred stock | — | 21,357 | 21,357 | ||||||||||
Options to purchase common stock | 9,422 | 6,923 | 4,490 | ||||||||||
Common stock reserved for issuance in connection with acquisition | 129 | — | — | ||||||||||
Restricted stock units | 723 | — | — | ||||||||||
Warrants | — | 49 | 49 | ||||||||||
10,274 | 28,329 | 25,896 | |||||||||||
Employee_Benefit_Plan
Employee Benefit Plan | 12 Months Ended | |
Mar. 31, 2015 | ||
Postemployment Benefits [Abstract] | ||
Employee Benefit Plan | 13 | Employee Benefit Plan |
The Company has established a 401(k) tax-deferred savings plan (the “401(k) Plan”), which permits participants to make contributions by salary deduction pursuant to Section 401(k) of the Code. The Company is responsible for administrative costs of the 401(k) Plan and may, at its discretion, make matching contributions to the 401(k) Plan. For the fiscal year ended March 31, 2015, the Company made contributions of $1.4 million to the 401(k) Plan. No contributions were made to the 401(k) Plan for the fiscal years ended March 31, 2014 and 2013. |
Revenue_by_Geographic_Location
Revenue by Geographic Location | 12 Months Ended | ||||||||||||
Mar. 31, 2015 | |||||||||||||
Segment Reporting [Abstract] | |||||||||||||
Revenue by Geographic Location | 14 | 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): | |||||||||||||
Year Ended March 31, | |||||||||||||
2015 | 2014 | 2013 | |||||||||||
United States | $ | 73,416 | $ | 43,903 | $ | 21,269 | |||||||
EMEA | 21,043 | 10,824 | 4,572 | ||||||||||
APAC | 8,732 | 4,574 | 2,261 | ||||||||||
Other | 7,200 | 3,873 | 1,562 | ||||||||||
Total revenue | $ | 110,391 | $ | 63,174 | $ | 29,664 | |||||||
Substantially all of the Company’s long-lived assets were attributable to operations in the United States as of March 31, 2015 and 2014. |
Description_of_Business_and_Su1
Description of Business and Summary of Significant Accounting Policies (Policies) | 12 Months Ended | |||
Mar. 31, 2015 | ||||
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 and Consolidation | Basis of Presentation and Consolidation—The consolidated financial statements include the accounts of New Relic and its wholly owned subsidiaries. These consolidated financial statements have been prepared in accordance with United States generally accepted accounting principles, or GAAP. All intercompany balances and transactions have been eliminated in consolidation. | |||
Foreign Currency Translation and Transactions | Foreign Currency Translation and Transactions—The functional currency of the Company’s foreign subsidiaries is the U.S. dollar. The Company translates all monetary assets and liabilities denominated in foreign currencies into U.S. dollars using the exchange rates in effect at the balance sheet dates and other assets and liabilities using historical exchange rates. | |||
Foreign currency denominated revenue and expenses have been re-measured using the average exchange rates in effect during each period. Foreign currency re-measurement gains and losses have been included in other income (expense). | ||||
Initial Public Offering | Initial Public Offering—In December 2014, New Relic completed its initial public offering, or IPO, in which the Company issued and sold 5,750,000 shares of common stock at a public offering price of $23.00 per share. The Company 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 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 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 consolidated financial statements and the reported amounts of income and expenses during the reporting period. Significant items subject to such estimates and assumptions include the fair value of the Company’s common and preferred stock and share-based awards, fair value of the preferred stock warrant liability, fair value of purchased intangible assets and goodwill, useful lives of purchased intangible assets, unrecognized tax benefits, and the capitalization and estimated useful life of the Company’s software development costs. These estimates are based on information available as of the date of the consolidated financial statements; therefore, actual results could differ from management’s estimates. | |||
Segments | Segments—The Company’s chief operating decision maker is the Chief Executive Officer, who reviews financial information presented on a consolidated basis, accompanied by information about revenue by geographic region. Accordingly, the Company has determined that it has a single reportable segment. | |||
Cash and Cash Equivalents | Cash and Cash Equivalents—The Company considers all highly liquid investments with an original maturity of three months or less at the date of purchase to be cash and cash equivalents. | |||
Restricted Cash | Restricted Cash—The Company has an agreement to maintain cash balances at a financial institution as collateral for two letters of credit relating to the Company’s property lease. | |||
Short-term Investments | Short-term Investments—Short-term investments consist of money market funds, certificates of deposit, commercial paper, U.S. treasury securities, U.S. agency securities, and corporate debt 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 investments as other-than-temporarily impaired as of March 31, 2015. The Company did not have investments 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 the Company uses its 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, its 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, the Company records adjustments to the assets acquired and liabilities assumed, with the corresponding offset to goodwill to the extent that the Company identifies 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 the Company’s consolidated statements of operations. There has been no such adjustment as of March 31, 2015. | |||
Property and Equipment | Property and Equipment—Property and equipment are stated at cost. Depreciation is calculated using the straight-line method over the estimated useful lives of the assets. The Company uses an estimated useful life of two years for employee-related computers and software, three years for other office equipment and site-related computer hardware, and five years for furniture. Leasehold improvements are amortized over the shorter of the lease-term or the estimated useful life of the related asset. Down payments for property and equipment are recorded at cost and included in other assets in the accompanying consolidated balance sheet. Once the corresponding property and equipment item has been received, it will be reclassified to property and equipment and amortized. | |||
Convertible Preferred Stock Warrant Liability | Convertible Preferred Stock Warrant Liability—Freestanding warrants to purchase convertible preferred stock are accounted for as liability awards and recorded at fair value on their initial issuance date and adjusted to fair value at each balance sheet date, with the change in fair value being recorded in other expense, net. Upon completion of the IPO, the Company’s preferred stock warrant liability was re-measured to fair value and any remaining liability was reclassified into stockholders’ equity (deficit). | |||
Revenue Recognition | Revenue Recognition—The Company generates revenue from subscription-based arrangements that allow customers to access its products. The Company recognizes revenue when all four of the following criteria are met: | |||
• | There is persuasive evidence of an arrangement. | |||
• | The subscriptions have been or are being provided to the customer. | |||
• | The amount of fees to be paid by the customer is fixed or determinable. | |||
• | The collection is reasonably assured. | |||
Revenue from subscription-based arrangements is recognized ratably over the contractual period, generally from one to twelve months. All of the Company’s subscription-based arrangements are priced on a fixed-fee basis. | ||||
Deferred Revenue | Deferred Revenue—Deferred revenue consists of billings or payments received in advance of revenue being recognized. The Company generally invoices its customers monthly, quarterly, or annually. Deferred revenue represents the amount that is expected to be recognized as revenue within one year of the balance sheet date. | |||
Cost of Revenue | Cost of Revenue—Cost of revenue consists of expenses relating to data center operations, hosting-related costs, payment processing fees, depreciation and amortization, consulting costs, and salaries and benefits of operations and global customer support personnel. | |||
Accounts Receivable and Allowance for Doubtful Accounts | Accounts Receivable and Allowance for Doubtful Accounts—Accounts receivable are recorded at the invoiced amount, net of allowances for doubtful accounts. The allowance for doubtful accounts is based on the Company’s assessment of the collectability of accounts. The Company regularly reviews the adequacy of the allowance for doubtful accounts by considering the age of each outstanding invoice and the collection history of each customer to determine whether a specific allowance is appropriate. Accounts receivable deemed uncollectable are charged against the allowance for doubtful accounts when identified. For all periods presented, the allowance for doubtful accounts activity was not significant. | |||
Software Development Costs | Software Development Costs—The Company capitalizes certain development costs incurred in connection with its internal use software and website. These capitalized costs are primarily related to its software analytics tools that are hosted by the Company and accessed by its customers on a subscription basis. Costs incurred in the preliminary stages of development are expensed as incurred. Once an application has reached the development stage, internal and external costs, if direct and incremental, are capitalized until the software is substantially complete and ready for its intended use. Capitalization ceases upon completion of all substantial testing. The Company also capitalizes costs related to specific upgrades and enhancements when it is probable the expenditures will result in additional features and functionality. Maintenance costs are expensed as incurred. Internal use software is amortized on a straight-line basis over its estimated useful life, generally three years. The Company capitalized $10.0 million, $5.5 million, and $3.0 million in internal use software during the fiscal years ended March 31, 2015, 2014, and 2013, respectively. Included in the capitalized development costs were $1.0 million, $0.3 million, and $0.1 million of stock-based compensation costs for the fiscal years ended March 31, 2015, 2014, and 2013, respectively. Amortization expense totaled $3.9 million, $2.1 million, and $1.1 million during the fiscal years ended March 31, 2015, 2014, and 2013, respectively. The net book value of capitalized internal use software as of March 31, 2015 and 2014, which is recorded in property and equipment on the accompanying consolidated balance sheets, was $12.6 million and $6.5 million, respectively. | |||
Deferred Offering Costs | Deferred Offering Costs—Deferred offering costs, consisting of legal, accounting, outside services, and filing fees related to the IPO are capitalized. The deferred offering costs were offset against proceeds from the IPO upon the effectiveness of the offering. As of March 31, 2015, the Company had capitalized no costs and, as of March 31, 2014, $0.2 million of deferred offering costs which are included in other assets in the accompanying consolidated balance sheets. | |||
Commissions | Commissions—Sales and marketing commissions are recognized as an expense at the time of the customer order. Substantially all of the effort by the sales and marketing organization is expended through the time of closing the sale. | |||
Advertising Expenses | Advertising Expenses—Advertising is expensed as incurred and is included in sales and marketing in the consolidated statements of operations. Advertising expense was $25.1 million, $22.4 million, and $10.0 million for the fiscal years ended March 31, 2015, 2014, and 2013, respectively. | |||
Operating Leases | Operating Leases—The Company leases office space and a data center facility under operating leases. Certain lease agreements contain rent holidays, allowances, and rent escalation provisions. The Company recognizes rent expense under such leases on a straight-line basis over the term of the lease. Lease renewal periods are considered on a lease-by-lease basis in determining the lease term. | |||
Impairment of Long-Lived Assets | Impairment of Long-Lived Assets—Long-lived assets, such as property and equipment, acquired intangible assets, and capitalized software development costs subject to amortization, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of the asset may not be recoverable. If circumstances require a long-lived asset be tested for possible impairment, the Company first compares undiscounted cash flows expected to be generated by the asset to its carrying value. If the carrying value of the long-lived asset is not recoverable on an undiscounted cash flow basis, an impairment is recognized to the extent that the carrying value exceeds its fair value. Fair value is determined through various valuation techniques, including discounted cash flow models, quoted market values, and third-party independent appraisals, as considered necessary. For the fiscal years presented, the Company had not impaired any of its long-lived assets. | |||
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 March 31, 2015, 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. | |||
Stock-Based Compensation | Stock-Based Compensation—The Company estimates the fair value of share-based awards on the date of grant. The value of the portion of the award that is ultimately expected to vest is recognized as expense over the requisite service periods in the statements of operations. The Company recognizes compensation expense over the vesting period of the entire award using the straight-line attribution method. These amounts are reduced by an estimated forfeiture rate. The forfeiture rate is estimated based on actual cancellation experience and is applied to all share-based awards. The rate is estimated at the time of grant and revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates. | |||
The Company selected the Black-Scholes option-pricing model as the method for determining the estimated fair value for stock options. The Black-Scholes option-pricing model requires the use of highly subjective and complex assumptions, which determine the fair value of share-based awards, including the option’s expected term and the price volatility of the underlying stock. | ||||
The authoritative guidance prohibits the recognition of a deferred tax asset for an excess tax benefit that has not yet been realized. As a result, the Company will only recognize a benefit from stock-based compensation in additional paid-in capital if an incremental tax benefit is realized or realizable after all other tax attributes currently available have been utilized. | ||||
Compensation expense related to equity instruments issued to nonemployees is recognized as the equity instruments vest. At each reporting date, the Company revalues the fair value and expense related to the unvested portion of such nonemployee awards. As a result, compensation expense related to unvested equity instruments issued to nonemployees fluctuates as the fair value of the Company’s common stock fluctuates. | ||||
Fair Value Measurements | Fair Value Measurements—The Company defines fair value as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining the fair value measurements for assets and liabilities that are required to be recorded at fair value, the Company considers the principal or most advantageous market in which to transact and the market-based risk. The Company applies fair value accounting for all financial assets and liabilities that are recognized or disclosed at fair value in the financial statements on a recurring basis. The carrying amounts reported in the consolidated financial statements approximate the fair value for cash and cash equivalents, restricted cash, short-term investments, accounts receivable, accounts payable, and accrued liabilities, due to their short-term nature. | |||
Concentration of Risk | Concentration of Risk—Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents, restricted cash, short-term investments, and trade accounts receivable. The Company invests its excess cash in money market funds, certificates of deposit, commercial paper, U.S. treasury securities, U.S. agency securities, and corporate debt securities with major financial institutions. Management believes that the financial institutions that hold the Company’s investments are financially sound and, accordingly, are subject to minimal credit risk. One customer accounted for 12% of accounts receivable as of March 31, 2015. There were no customers that represented more than 10% of the Company’s accounts receivable balance as of March 31, 2014. In addition, there were no customers that individually exceeded 10% of the Company’s revenue during the fiscal years ended March 31, 2015, 2014, and 2013. | |||
Income Taxes | Income Taxes—The Company accounts for income taxes using the asset and liability method, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been recognized in the Company’s financial statements or tax returns. In addition, deferred tax assets are recorded for the future benefit of utilizing net operating losses and research and development credit carryforwards. Valuation allowances are provided when necessary to reduce deferred tax assets to the amount expected to be realized. | |||
The Company applies the authoritative accounting guidance prescribing a threshold and measurement attribute for the financial recognition and measurement of a tax position taken or expected to be taken in a tax return. The Company recognizes liabilities for uncertain tax positions based on a two-step process. The first step is to evaluate the tax position for recognition by determining if the weight of available evidence indicates that it is more likely than not that the position will be sustained on audit, including resolution of related appeals or litigation processes, if any. The second step requires the Company to estimate and measure the tax liability as the largest amount that is more likely than not to be realized upon ultimate settlement. | ||||
Net Loss Per Share Attributable to Common Stockholders | Net Loss Per Share Attributable to Common Stockholders—The Company calculates its basic and diluted net loss per share attributable to common stockholders in conformity with the two-class method required for companies with participating securities. Under the two-class method, in periods when the Company has net income, net income attributable to common stockholders is determined by allocating undistributed earnings, calculated as net income less current period convertible preferred stock non-cumulative dividends, between common stock and the convertible preferred stock. In computing diluted net income attributable to common stockholders, undistributed earnings are re-allocated to reflect the potential impact of dilutive securities. The Company’s basic net loss per share attributable to common stockholders is calculated by dividing the net loss attributable to common stockholders by the weighted-average number of shares of common stock outstanding for the period. The diluted net loss per share attributable to common stockholders is computed by giving effect to all potential dilutive common stock equivalents outstanding for the period. For purposes of this calculation, convertible preferred stock, options to purchase common stock, and convertible preferred stock warrants are considered common stock equivalents but have been excluded from the calculation of diluted net loss per share attributable to common stockholders as their effect is antidilutive. | |||
Recent Accounting Pronouncements | Recent Accounting Pronouncements—In May 2014, the Financial Accounting Standards Board, or FASB, issued Accounting Standards Update 2014-09, Revenue from Contracts with Customers, 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 its fiscal year beginning April 1, 2017; early adoption is not permitted. On April 29, 2015, the FASB issued for public comment a proposed Accounting Standards Update (ASU) that would defer the effective date of the new revenue recognition standard by one year. The Company is currently evaluating the impact of this new standard on its consolidated financial statements, as well as which transition method it intends to use. | |||
In August 2014, the FASB issued Accounting Standards Update No. 2014-15, Presentation of Financial Statements—Going Concern (Subtopic 205-40): Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern. The Update is intended to define management’s responsibility to evaluate whether there is substantial doubt about an organization’s ability to continue as a going concern and to provide related footnote disclosures. The standard will be effective for the Company in the fiscal year beginning April 1, 2016; early adoption is permitted. The Company is currently evaluating the impact of this new standard on its disclosures within the notes to the consolidated financial statements. |
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 12 Months Ended | ||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||
Fair Value Disclosures [Abstract] | |||||||||||||||||
Information about Financial Assets Measured at Fair Value on Recurring Basis | The following tables present information about the Company’s financial assets measured at fair value on a recurring basis as of March 31, 2015 and 2014 based on the three-tier fair value hierarchy (in thousands): | ||||||||||||||||
Fair Value Measurements as of | |||||||||||||||||
March 31, 2015 | |||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
Description: | |||||||||||||||||
Money market funds | $ | 56,455 | $ | — | $ | — | $ | 56,455 | |||||||||
Certificates of deposit | — | 1,800 | — | 1,800 | |||||||||||||
Commercial paper | — | 30,288 | — | 30,288 | |||||||||||||
Corporate notes and bonds | — | 38,715 | — | 38,715 | |||||||||||||
U.S. treasury securities | 500 | — | — | 500 | |||||||||||||
U.S. government agencies | — | 33,199 | — | 33,199 | |||||||||||||
Restricted cash—money market funds | 4,623 | — | — | 4,623 | |||||||||||||
Total | $ | 61,578 | $ | 104,002 | $ | — | $ | 165,580 | |||||||||
Included in cash and cash equivalents | $ | 65,454 | |||||||||||||||
Included in short-term investments | $ | 95,503 | |||||||||||||||
Included in restricted cash | $ | 4,623 | |||||||||||||||
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 | |||||||||||||||
Schedule of Fair Value of Outstanding Convertible Preferred Stock Warrants | Immediately prior to the close of the IPO and as of March 31, 2014, the Company determined the fair value of the outstanding convertible preferred stock warrants utilizing the following assumptions: | ||||||||||||||||
Prior to Close | As of | ||||||||||||||||
of IPO on | March 31, | ||||||||||||||||
December 17, | |||||||||||||||||
2014 | 2014 | ||||||||||||||||
Remaining contractual term (in years) | 0.0 - 3.7 | 4.4 - 8.4 | |||||||||||||||
Risk-free interest rate | 0.0 - 1.4% | 1.5 - 2.5% | |||||||||||||||
Volatility | 45% | 50% | |||||||||||||||
Dividend yield | — | — | |||||||||||||||
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 March 31, 2015 | $ | — | |||||||||||||||
Classification of Available-for-Sale Short-Term Investments by Contractual Maturities | The following table classifies the Company’s available-for-sale short-term investments by contractual maturities as of March 31, 2015 and 2014 (in thousands): | ||||||||||||||||
March 31, | March 31, | ||||||||||||||||
2015 | 2014 | ||||||||||||||||
Due in one year | $ | 53,287 | $ | — | |||||||||||||
Due in one to two years | 42,216 | — | |||||||||||||||
Total | $ | 95,503 | $ | — | |||||||||||||
Property_and_Equipment_Tables
Property and Equipment (Tables) | 12 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Property, Plant and Equipment [Abstract] | |||||||||
Schedule of Property and Equipment, Net | Property and equipment, net, consisted of the following (in thousands): | ||||||||
March 31, | March 31, | ||||||||
2015 | 2014 | ||||||||
Computers, software, and equipment | $ | 2,985 | $ | 1,983 | |||||
Site operation equipment | 6,383 | 2,535 | |||||||
Furniture and fixtures | 868 | 494 | |||||||
Leasehold improvements | 20,513 | 12,355 | |||||||
Capitalized software development costs | 21,402 | 11,444 | |||||||
Total property and equipment | 52,151 | 28,811 | |||||||
Less: accumulated depreciation and amortization | (16,754 | ) | (8,628 | ) | |||||
Total property and equipment, net | $ | 35,397 | $ | 20,183 | |||||
Goodwill_and_Purchased_Intangi1
Goodwill and Purchased Intangibles Assets (Tables) | 12 Months Ended | ||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | |||||||||||||||||
Changes in Carrying Amount of Goodwill | The changes in the carrying amount of goodwill for the fiscal year ended March 31, 2015 are as follows (in thousands): | ||||||||||||||||
Goodwill as of March 31, 2014 | $ | — | |||||||||||||||
Goodwill acquired | 2,053 | ||||||||||||||||
Goodwill as of March 31, 2015 | $ | 2,053 | |||||||||||||||
Schedule of Purchased Intangible Assets Subject to Amortization | Purchased intangible assets subject to amortization as of March 31, 2015 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 | $ | (400 | ) | $ | 2,000 | 2.5 | |||||||||
Customer relationships | 100 | (25 | ) | 75 | 1.5 | ||||||||||||
Other intangible assets | 300 | (75 | ) | 225 | 1.5 | ||||||||||||
$ | 2,800 | $ | (500 | ) | $ | 2,300 | |||||||||||
Schedule of Estimated Future Amortization Expense | Estimated future amortization expense as of March 31, 2015 is as follows (in thousands): | ||||||||||||||||
2016 | $ | 1,000 | |||||||||||||||
2017 | 900 | ||||||||||||||||
2018 | 400 | ||||||||||||||||
2019 and thereafter | — | ||||||||||||||||
$ | 2,300 | ||||||||||||||||
Other_Current_Liabilities_Tabl
Other Current Liabilities (Tables) | 12 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Text Block [Abstract] | |||||||||
Summary of Other Current Liabilities | Other current liabilities consisted of the following (in thousands): | ||||||||
As of March 31, | |||||||||
2015 | 2014 | ||||||||
Deferred tax liability | $ | 913 | $ | 392 | |||||
Accrued liabilities | 1,365 | 1,167 | |||||||
Accrued tax liabilities | 345 | — | |||||||
Deferred rent | 301 | 287 | |||||||
Other | 699 | 314 | |||||||
Total other current liabilities | $ | 3,623 | $ | 2,160 | |||||
Commitments_and_Contingencies_
Commitments and Contingencies (Tables) | 12 Months Ended | ||||
Mar. 31, 2015 | |||||
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 March 31, 2015 were as follows (in thousands): | ||||
Years Ending March 31, | Operating Leases | ||||
2016 | $ | 5,741 | |||
2017 | 6,267 | ||||
2018 | 6,495 | ||||
2019 | 6,629 | ||||
2020 | 6,807 | ||||
Thereafter | 8,139 | ||||
Total minimum future lease payments | $ | 40,078 | |||
Convertible_Preferred_Stock_Ta
Convertible Preferred Stock (Tables) | 12 Months Ended | ||||||||||||
Mar. 31, 2015 | |||||||||||||
Text Block [Abstract] | |||||||||||||
Summary of Outstanding Convertible Preferred Stock | As of the March 31, 2014, the Company’s outstanding convertible preferred stock consisted of the following (in thousands): | ||||||||||||
Shares Authorized | Shares Issued and Outstanding | Liquidation Preference | |||||||||||
Series A | 7,028 | 7,000 | $ | 3,500 | |||||||||
Series B | 6,492 | 6,492 | 7,940 | ||||||||||
Series C | 2,852 | 2,852 | 9,943 | ||||||||||
Series D | 1,643 | 1,566 | 15,000 | ||||||||||
Series E | 4,308 | 3,447 | 60,000 | ||||||||||
22,323 | 21,357 | $ | 96,383 | ||||||||||
Convertible preferred stock immediately prior to the conversion into common stock consisted of the following (in thousands): | |||||||||||||
Shares Authorized | Shares Issued and Outstanding | Liquidation Preference | |||||||||||
Series A | 7,028 | 7,000 | $ | 3,500 | |||||||||
Series B | 6,492 | 6,492 | 7,940 | ||||||||||
Series C | 2,852 | 2,852 | 9,943 | ||||||||||
Series D | 1,643 | 1,566 | 15,000 | ||||||||||
Series E | 3,447 | 3,447 | 60,000 | ||||||||||
Series F | 3,500 | 3,456 | 100,000 | ||||||||||
24,962 | 24,813 | $ | 196,383 | ||||||||||
Common_Stock_and_Stockholders_1
Common Stock and Stockholders' Equity (Deficit) (Tables) | 12 Months Ended | ||||||||||||||||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||||||||||||||||
Equity [Abstract] | |||||||||||||||||||||||||||||||||
Schedule of Shares of Common Stock Reserved for Future Issuance | The Company had reserved shares of common stock for future issuance as follows (in thousands): | ||||||||||||||||||||||||||||||||
As of March 31, | |||||||||||||||||||||||||||||||||
2015 | 2014 | ||||||||||||||||||||||||||||||||
Conversion of preferred stock | — | 21,357 | |||||||||||||||||||||||||||||||
Warrants to purchase convertible preferred stock | — | 49 | |||||||||||||||||||||||||||||||
Common stock options outstanding | 9,422 | 6,923 | |||||||||||||||||||||||||||||||
RSUs outstanding | 723 | — | |||||||||||||||||||||||||||||||
Common stock reserved for issuance in connection with acquisition | 129 | ||||||||||||||||||||||||||||||||
Available for future stock option and RSU grants | 5,149 | 298 | |||||||||||||||||||||||||||||||
Available for future employee stock purchase plan awards | 1,000 | — | |||||||||||||||||||||||||||||||
16,423 | 28,627 | ||||||||||||||||||||||||||||||||
Schedule of Stock Option and RSU Award Activities | The following table summarizes the Company’s stock option and RSU award activities for the fiscal year ended March 31, 2015 (in thousands, except per share information): | ||||||||||||||||||||||||||||||||
Options Outstanding | RSUs Outstanding | ||||||||||||||||||||||||||||||||
Number | Weighted- | Weighted- | Aggregate | Number | Weighted- | Weighted- | Aggregate | ||||||||||||||||||||||||||
of Shares | Average | Average | Intrinsic Value | of Shares | Average | Average | Intrinsic Value | ||||||||||||||||||||||||||
Exercise | Remaining | Grant | Remaining | ||||||||||||||||||||||||||||||
Price | Contractual | Date | Contractual | ||||||||||||||||||||||||||||||
Term | Fair | Term | |||||||||||||||||||||||||||||||
(in years) | Value | (in years) | |||||||||||||||||||||||||||||||
Outstanding—April 1, 2014 | 6,923 | $ | 4.86 | — | $ | — | |||||||||||||||||||||||||||
Stock options granted | 3,595 | 19.08 | |||||||||||||||||||||||||||||||
RSU granted | 733 | 23.85 | |||||||||||||||||||||||||||||||
Stock options exercised | (490 | ) | 2.47 | ||||||||||||||||||||||||||||||
Stock options canceled/forfeited | (606 | ) | 10.02 | ||||||||||||||||||||||||||||||
RSU canceled/forfeited | (10 | ) | 23 | ||||||||||||||||||||||||||||||
Outstanding—March 31, 2015 | 9,422 | $ | 10.08 | 7.9 | $ | 231,964 | 723 | $ | 23.87 | 3.5 | $ | 25,098 | |||||||||||||||||||||
Options vested and expected to vest— March 31, 2015 | 8,379 | $ | 9.54 | 7.8 | $ | 210,774 | |||||||||||||||||||||||||||
Options vested and exercisable— March 31, 2015 | 4,152 | $ | 4.12 | 6.7 | $ | 126,989 | |||||||||||||||||||||||||||
RSUs expected to vest— March 31, 2015 | 638 | $ | 23.6 | 3.5 | $ | 22,156 | |||||||||||||||||||||||||||
Schedule of Assumptions Used to Estimate Fair Value of Stock Options Granted | The assumptions used to estimate the fair value of stock options granted during the fiscal years ended March 31, 2015, 2014, and 2013 were as follows: | ||||||||||||||||||||||||||||||||
Year Ended March 31, | |||||||||||||||||||||||||||||||||
2015 | 2014 | 2013 | |||||||||||||||||||||||||||||||
Expected term (years) | 5 - 6 | 5 - 6 | 6-May | ||||||||||||||||||||||||||||||
Expected volatility | 45 - 51% | 47 - 52% | 50 - 53% | ||||||||||||||||||||||||||||||
Risk-free interest rate | 1.40 - 2.01% | 0.74 - 1.87% | 0.67 - 0.97% | ||||||||||||||||||||||||||||||
Dividend yield | — | — | — | ||||||||||||||||||||||||||||||
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): | ||||||||||||||||||||||||||||||||
Year Ended March 31, | |||||||||||||||||||||||||||||||||
2015 | 2014 | 2013 | |||||||||||||||||||||||||||||||
Cost of revenue | $ | 591 | $ | 159 | $ | 212 | |||||||||||||||||||||||||||
Research and development | 2,055 | 1,425 | 1,620 | ||||||||||||||||||||||||||||||
Sales and marketing | 5,108 | 1,373 | 2,060 | ||||||||||||||||||||||||||||||
General and administrative | 3,912 | 3,263 | 4,794 | ||||||||||||||||||||||||||||||
Total stock-based compensation expense | $ | 11,666 | $ | 6,220 | $ | 8,686 | |||||||||||||||||||||||||||
Income_Taxes_Tables
Income Taxes (Tables) | 12 Months Ended | ||||||||||||
Mar. 31, 2015 | |||||||||||||
Income Tax Disclosure [Abstract] | |||||||||||||
Components of Loss Before Income Taxes | The components of loss before incomes taxes are as follows: | ||||||||||||
Year Ended March 31, | |||||||||||||
2015 | 2014 | 2013 | |||||||||||
Domestic | $ | (50,031 | ) | $ | (40,237 | ) | $ | (22,541 | ) | ||||
Foreign | (203 | ) | 12 | — | |||||||||
Total | $ | (50,234 | ) | $ | (40,225 | ) | $ | (22,541 | ) | ||||
Components of Provision for Income Taxes | The components of the provision for income taxes for the fiscal year ended March 31, 2015 are as follows (in thousands): | ||||||||||||
Current provision: | |||||||||||||
Federal | $ | — | |||||||||||
State | — | ||||||||||||
Foreign | 334 | ||||||||||||
Total current provision | $ | 334 | |||||||||||
Deferred provision: | |||||||||||||
Federal | $ | (8 | ) | ||||||||||
State | — | ||||||||||||
Foreign | (411 | ) | |||||||||||
Total deferred provision | (419 | ) | |||||||||||
Total income tax provision | $ | (85 | ) | ||||||||||
Schedule of Effective Federal Statutory Tax Rate Reconciliation | A reconciliation of the federal statutory tax rate to the Company’s effective tax rate is as follows: | ||||||||||||
Year Ended March 31, | |||||||||||||
2015 | 2014 | 2013 | |||||||||||
Federal statutory rate | 34 | % | 34 | % | 34 | % | |||||||
Effect of: | |||||||||||||
State taxes, net of federal benefits | 1.5 | 1.7 | 5.2 | ||||||||||
Stock-based compensation | (4.5 | ) | (4.9 | ) | (11.4 | ) | |||||||
Research and development credit | 1.8 | 1.9 | 1.2 | ||||||||||
Valuation allowance | (32.6 | ) | (32.7 | ) | (29.0 | ) | |||||||
Effective tax rate | 0.2 | % | — | % | — | % | |||||||
Schedule of Net Deferred Tax Assets and Liabilities | The components of the Company’s net deferred tax assets and liabilities as of March 31, 2015 and 2014, were as follows (in thousands): | ||||||||||||
As of March 31, | |||||||||||||
2015 | 2014 | ||||||||||||
Deferred tax assets: | |||||||||||||
Accrued expenses | $ | 2,345 | $ | 1,222 | |||||||||
Depreciation and amortization | 1,290 | 694 | |||||||||||
Net operating loss carryforwards | 38,837 | 24,434 | |||||||||||
Stock based compensation | 3,312 | 968 | |||||||||||
Research and development credits | 3,046 | 1,770 | |||||||||||
Gross deferred tax assets | 48,830 | 29,088 | |||||||||||
Valuation allowance | (43,710 | ) | (26,848 | ) | |||||||||
Total deferred tax assets | 5,120 | 2,240 | |||||||||||
Deferred tax liabilities: | |||||||||||||
Prepaids | (1,026 | ) | — | ||||||||||
Intangibles | (85 | ) | — | ||||||||||
Capitalized research and development | (4,088 | ) | (2,240 | ) | |||||||||
Total deferred tax liabilities | (5,199 | ) | (2,240 | ) | |||||||||
Total net deferred tax assets (liabilities) | $ | (79 | ) | $ | — | ||||||||
Schedule of Unrecognized Tax Benefits Reconciliation | A reconciliation of the beginning and ending amount of unrecognized tax benefits was as follows (in thousands): | ||||||||||||
Balance at March 31, 2012 | $ | 338 | |||||||||||
Additions based on tax positions taken during the current period | 229 | ||||||||||||
Additions based on tax positions taken during the prior period | 30 | ||||||||||||
Reductions based on tax positions taken during the prior period | — | ||||||||||||
Balance at March 31, 2013 | 597 | ||||||||||||
Additions based on tax positions taken during the current period | 367 | ||||||||||||
Additions based on tax positions taken during the prior period | 46 | ||||||||||||
Reductions based on tax positions taken during the prior period | (275 | ) | |||||||||||
Balance at March 31, 2014 | 735 | ||||||||||||
Additions based on tax positions taken during the current period | 1,009 | ||||||||||||
Additions based on tax positions taken during the prior period | 84 | ||||||||||||
Reductions based on tax positions taken during the prior period | (2 | ) | |||||||||||
Balance at March 31, 2015 | $ | 1,826 | |||||||||||
Net_Loss_Per_Share_Tables
Net Loss Per Share (Tables) | 12 Months Ended | ||||||||||||
Mar. 31, 2015 | |||||||||||||
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): | ||||||||||||
Year Ended March 31, | |||||||||||||
2015 | 2014 | 2013 | |||||||||||
Numerator: | |||||||||||||
Net loss | $ | (50,149 | ) | $ | (40,225 | ) | $ | (22,541 | ) | ||||
Denominator: | |||||||||||||
Weighted average shares used to compute net loss per share attributable to common stockholder, basic and diluted | 25,290 | 15,596 | 15,096 | ||||||||||
Net loss per share—basic and diluted | $ | (1.98 | ) | $ | (2.58 | ) | $ | (1.49 | ) | ||||
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): | ||||||||||||
As of March 31, | |||||||||||||
2015 | 2014 | 2013 | |||||||||||
Convertible preferred stock | — | 21,357 | 21,357 | ||||||||||
Options to purchase common stock | 9,422 | 6,923 | 4,490 | ||||||||||
Common stock reserved for issuance in connection with acquisition | 129 | — | — | ||||||||||
Restricted stock units | 723 | — | — | ||||||||||
Warrants | — | 49 | 49 | ||||||||||
10,274 | 28,329 | 25,896 | |||||||||||
Revenue_by_Geographic_Location1
Revenue by Geographic Location (Tables) | 12 Months Ended | ||||||||||||
Mar. 31, 2015 | |||||||||||||
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): | ||||||||||||
Year Ended March 31, | |||||||||||||
2015 | 2014 | 2013 | |||||||||||
United States | $ | 73,416 | $ | 43,903 | $ | 21,269 | |||||||
EMEA | 21,043 | 10,824 | 4,572 | ||||||||||
APAC | 8,732 | 4,574 | 2,261 | ||||||||||
Other | 7,200 | 3,873 | 1,562 | ||||||||||
Total revenue | $ | 110,391 | $ | 63,174 | $ | 29,664 | |||||||
Description_of_Business_and_Su2
Description of Business and Summary of Significant Accounting Policies - Additional Information (Detail) (USD $) | 12 Months Ended | 85 Months Ended | 1 Months Ended | |||
Mar. 31, 2015 | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2015 | Dec. 31, 2014 | Apr. 30, 2014 | |
Segment | LetterOfCredit | |||||
LetterOfCredit | ||||||
Description Of Business And Summary Of Significant Accounting Policies [Line Items] | ||||||
Company incorporation date | 20-Feb-08 | |||||
Entity Incorporation, State Name | Delaware | |||||
Proceeds from sale of common stock, net of underwriters' discounts and commissions | $119,924,000 | |||||
Number of reportable segments | 1 | |||||
Cash and cash equivalents, original maturity term | Three months or less | |||||
Number of letters of Credit, pledged as collateral | 2 | 2 | ||||
Other-than-temporarily impaired investments | 0 | |||||
Short-term investments | 95,503,000 | 0 | 95,503,000 | |||
Gross value of capitalized internal use software | 10,000,000 | 5,500,000 | 3,000,000 | 10,000,000 | ||
Stock-based compensation costs | 1,000,000 | 300,000 | 100,000 | |||
Amortization expense | 3,900,000 | 2,100,000 | 1,100,000 | |||
Net book value of capitalized software | 12,600,000 | 6,500,000 | 12,600,000 | |||
Deferred offering costs | 0 | 0 | ||||
Impairment of long-lived assets | 0 | 0 | 0 | |||
Goodwill impairment | 0 | |||||
Other Noncurrent Assets [Member] | ||||||
Description Of Business And Summary Of Significant Accounting Policies [Line Items] | ||||||
Deferred offering costs | 200,000 | |||||
Minimum [Member] | ||||||
Description Of Business And Summary Of Significant Accounting Policies [Line Items] | ||||||
Revenue recognition, contract term | 1 month | |||||
Maximum [Member] | ||||||
Description Of Business And Summary Of Significant Accounting Policies [Line Items] | ||||||
Revenue recognition, contract term | 12 months | |||||
Computers and software [Member] | ||||||
Description Of Business And Summary Of Significant Accounting Policies [Line Items] | ||||||
Property plant and equipment estimated useful life | 2 years | |||||
Other Office Equipment and Site-related Computer Hardware [Member] | ||||||
Description Of Business And Summary Of Significant Accounting Policies [Line Items] | ||||||
Property plant and equipment estimated useful life | 3 years | |||||
Furniture and Fixtures [Member] | ||||||
Description Of Business And Summary Of Significant Accounting Policies [Line Items] | ||||||
Property plant and equipment estimated useful life | 5 years | |||||
Leasehold Improvements [Member] | ||||||
Description Of Business And Summary Of Significant Accounting Policies [Line Items] | ||||||
Property plant and equipment, estimated useful life | The shorter of the lease-term or the estimated useful life of the related asset. | |||||
Capitalized Software Development Costs [Member] | ||||||
Description Of Business And Summary Of Significant Accounting Policies [Line Items] | ||||||
Property plant and equipment estimated useful life | 3 years | |||||
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 | |||||
Accounts Receivable [Member] | ||||||
Description Of Business And Summary Of Significant Accounting Policies [Line Items] | ||||||
Number of customers | 1 | 0 | ||||
Revenue [Member] | ||||||
Description Of Business And Summary Of Significant Accounting Policies [Line Items] | ||||||
Number of customers | 0 | 0 | 0 | |||
Series F Convertible Preferred Stock [Member] | ||||||
Description Of Business And Summary Of Significant Accounting Policies [Line Items] | ||||||
Common stock shares issued, price per share | $28.93 | |||||
Convertible preferred stock conversion rate | 1.02 | 1 | ||||
Series A Through E Preferred Stock [Member] | ||||||
Description Of Business And Summary Of Significant Accounting Policies [Line Items] | ||||||
Convertible preferred stock conversion rate | 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 | |||||
Credit Concentration Risk [Member] | Accounts Receivable [Member] | ||||||
Description Of Business And Summary Of Significant Accounting Policies [Line Items] | ||||||
Concentration of risk, percentage | 12.00% | 10.00% | ||||
Credit Concentration Risk [Member] | Revenue [Member] | ||||||
Description Of Business And Summary Of Significant Accounting Policies [Line Items] | ||||||
Concentration of risk, percentage | 10.00% | 10.00% | 10.00% | |||
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 | ||||
Offering expenses | 3,100,000 | |||||
Initial Public Offering [Member] | Series F Convertible Preferred Stock [Member] | ||||||
Description Of Business And Summary Of Significant Accounting Policies [Line Items] | ||||||
Convertible preferred stock conversion rate | 1.02 | |||||
Sales and Marketing [Member] | ||||||
Description Of Business And Summary Of Significant Accounting Policies [Line Items] | ||||||
Advertising Expense | $25,100,000 | $22,400,000 | $10,000,000 |
Business_Combination_Additiona
Business Combination - Additional Information (Detail) (USD $) | 0 Months Ended | ||
Oct. 06, 2014 | Mar. 31, 2015 | 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 | ||
Expensed related acquisition costs in general and administrative expenses | 200,000 | ||
Business acquisition obligation to issue common stock, shares | 128,507 | ||
Issuance of common stock with grant date fair value | $1,900,000 | ||
Service period of compensation expense | 3 years |
Fair_Value_Measurements_Inform
Fair Value Measurements - Information about Financial Assets Measured at Fair Value on Recurring Basis (Detail) (USD $) | Mar. 31, 2015 | Mar. 31, 2014 |
In Thousands, unless otherwise specified | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets fair value | $165,580 | $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 | 65,454 | 3,512 |
Short-Term Investments [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets fair value | 95,503 | |
Restricted Cash [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets fair value | 4,623 | 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 | 56,455 | 3,512 |
Certificates Of Deposit [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets fair value | 1,800 | |
Commercial Paper [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets fair value | 30,288 | |
Corporate Notes and Bonds [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets fair value | 38,715 | |
US Treasury Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets fair value | 500 | |
US Government Agencies [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets fair value | 33,199 | |
Restricted Cash-Money Market Funds [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets fair value | 4,623 | 5,601 |
Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets fair value | 61,578 | 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 | 56,455 | 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 | 500 | |
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 | 4,623 | 5,601 |
Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets fair value | 104,002 | |
Level 2 [Member] | Certificates Of Deposit [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets fair value | 1,800 | |
Level 2 [Member] | Commercial Paper [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets fair value | 30,288 | |
Level 2 [Member] | Corporate Notes and Bonds [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets fair value | 38,715 | |
Level 2 [Member] | US Government Agencies [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets fair value | 33,199 | |
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 $) | 12 Months Ended | 1 Months Ended | |||
Mar. 31, 2015 | Mar. 31, 2014 | Mar. 31, 2013 | Dec. 31, 2014 | Jan. 31, 2015 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Transfers between fair value measurement levels | $0 | ||||
Recognized charges in fair value of preferred stock warrant amount | 82,000 | 718,000 | 13,000 | ||
Aggregate fair value of warrants | 900,000 | ||||
Warrants to Purchase Preferred Stock [Member] | Series D Convertible 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 | 12,193 | ||||
Warrants to Purchase Preferred Stock [Member] | Series A Convertible 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 | 27,573 |
Fair_Value_Measurements_Schedu
Fair Value Measurements - Schedule of Fair Value of Outstanding Convertible Preferred Stock Warrants (Detail) | 0 Months Ended | 12 Months Ended |
Dec. 17, 2014 | Mar. 31, 2014 | |
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Volatility | 45.00% | 50.00% |
Dividend yield | 0.00% | 0.00% |
Minimum [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Remaining contractual term (in years) | 0 years | 4 years 4 months 24 days |
Risk-free interest rate | 0.00% | 1.50% |
Maximum [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Remaining contractual term (in years) | 3 years 8 months 12 days | 8 years 4 months 24 days |
Risk-free interest rate | 1.40% | 2.50% |
Fair_Value_Measurements_Summar
Fair Value Measurements - Summary of Changes in Fair Value of Level 3 Financial Instruments (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 | Mar. 31, 2013 |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||
Change in fair value of preferred stock warrant liability | ($82) | ($718) | ($13) |
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) |
Fair_Value_Measurements_Classi
Fair Value Measurements - Classification of Available-for-Sale Short-Term Investments by Contractual Maturities (Detail) (USD $) | Mar. 31, 2015 | Mar. 31, 2014 |
Available-for-sale Securities, Debt Maturities, Fair Value, Fiscal Year Maturity [Abstract] | ||
Due in one year | $53,287,000 | |
Due in one to two years | 42,216,000 | |
Total | $95,503,000 | $0 |
Property_and_Equipment_Schedul
Property and Equipment - Schedule of Property and Equipment, Net (Detail) (USD $) | Mar. 31, 2015 | Mar. 31, 2014 |
In Thousands, unless otherwise specified | ||
Property, Plant and Equipment [Line Items] | ||
Total property and equipment | $52,151 | $28,811 |
Less: accumulated depreciation and amortization | -16,754 | -8,628 |
Total property and equipment, net | 35,397 | 20,183 |
Computers, Software, and Equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Total property and equipment | 2,985 | 1,983 |
Site Operation Equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Total property and equipment | 6,383 | 2,535 |
Furniture and Fixtures [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Total property and equipment | 868 | 494 |
Leasehold Improvements [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Total property and equipment | 20,513 | 12,355 |
Capitalized Software Development Costs [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Total property and equipment | $21,402 | $11,444 |
Property_and_Equipment_Additio
Property and Equipment - Additional Information (Detail) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 | Mar. 31, 2013 |
Property, Plant and Equipment [Abstract] | |||
Depreciation and amortization expense | $8.50 | $4.50 | $1.90 |
Goodwill_and_Purchased_Intangi2
Goodwill and Purchased Intangibles Assets - Changes in Carrying Amount of Goodwill (Detail) (USD $) | 12 Months Ended |
In Thousands, unless otherwise specified | Mar. 31, 2015 |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill as of March 31, 2014 | $0 |
Goodwill acquired | 2,053 |
Goodwill as of March 31, 2015 | $2,053 |
Goodwill_and_Purchased_Intangi3
Goodwill and Purchased Intangibles Assets - Additional Information (Detail) (USD $) | 12 Months Ended | ||
Mar. 31, 2015 | Mar. 31, 2014 | Mar. 31, 2013 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |||
Purchased intangible assets | $2,300,000 | $0 | |
Amortization expense | $500,000 | $0 | $0 |
Goodwill_and_Purchased_Intangi4
Goodwill and Purchased Intangibles Assets - Schedule of Purchased Intangible Assets Subject to Amortization (Detail) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Amount | $2,800 | |
Accumulated Amortization | -500 | |
Net Carrying Amount | 2,300 | 0 |
Developed Technology Rights [Member] | ||
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Amount | 2,400 | |
Accumulated Amortization | -400 | |
Net Carrying Amount | 2,000 | |
Remaining Useful Life (In years) | 2 years 6 months | |
Customer Relationships [Member] | ||
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Amount | 100 | |
Accumulated Amortization | -25 | |
Net Carrying Amount | 75 | |
Remaining Useful Life (In years) | 1 year 6 months | |
Other Intangible Assets [Member] | ||
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Amount | 300 | |
Accumulated Amortization | -75 | |
Net Carrying Amount | $225 | |
Remaining Useful Life (In years) | 1 year 6 months |
Goodwill_and_Purchased_Intangi5
Goodwill and Purchased Intangibles Assets - Schedule of Estimated Future Amortization Expense (Detail) (USD $) | Mar. 31, 2015 | Mar. 31, 2014 |
In Thousands, unless otherwise specified | ||
Goodwill and Intangible Assets Disclosure [Abstract] | ||
2016 | $1,000 | |
2017 | 900 | |
2018 | 400 | |
2019 and thereafter | 0 | |
Net Carrying Amount | $2,300 | $0 |
Other_Current_Liabilities_Summ
Other Current Liabilities - Summary of Other Current Liabilities (Detail) (USD $) | Mar. 31, 2015 | Mar. 31, 2014 |
In Thousands, unless otherwise specified | ||
Other Liabilities Disclosure [Abstract] | ||
Deferred tax liability | $913 | $392 |
Accrued liabilities | 1,365 | 1,167 |
Accrued tax liabilities | 345 | |
Deferred rent | 301 | 287 |
Other | 699 | 314 |
Total other current liabilities | $3,623 | $2,160 |
Commitments_and_Contingencies_1
Commitments and Contingencies - Additional Information (Detail) (USD $) | 12 Months Ended | ||
Mar. 31, 2015 | Mar. 31, 2014 | Mar. 31, 2013 | |
Property Subject to or Available for Operating Lease [Line Items] | |||
Non-cancelable operating lease agreements, expiration dates | From 2015 through 2023 | ||
Deferred rent | $4,900,000 | $3,900,000 | |
Rent expense, net of sublease income, for operating leases | 5,200,000 | 4,700,000 | 1,100,000 |
Offset of rent expense and sublease income | 700,000 | 700,000 | 23,000 |
Purchase commitments | 3,600,000 | 600,000 | |
Accrued loss | 0 | ||
March 31, 2016 [Member] | |||
Property Subject to or Available for Operating Lease [Line Items] | |||
Future minimum sublease income under non-cancelable operating leases | $34,000 |
Commitments_and_Contingencies_2
Commitments and Contingencies - Future Minimum Lease Payments Under Non-Cancelable Operating Leases (Detail) (USD $) | Mar. 31, 2015 |
In Thousands, unless otherwise specified | |
Leases [Abstract] | |
2016 | $5,741 |
2017 | 6,267 |
2018 | 6,495 |
2019 | 6,629 |
2020 | 6,807 |
Thereafter | 8,139 |
Total minimum future lease payments | $40,078 |
Convertible_Preferred_Stock_Su
Convertible Preferred Stock - Summary of Outstanding Convertible Preferred Stock (Detail) (USD $) | Mar. 31, 2015 | Dec. 17, 2014 | Mar. 31, 2014 |
In Thousands, unless otherwise specified | |||
Temporary Equity [Line Items] | |||
Convertible preferred stock, shares authorized | 10,000 | 24,962 | 22,323 |
Convertible Preferred Stock, Shares Issued and Outstanding | 24,813 | 21,357 | |
Convertible Preferred Stock, Liquidation Preference | $196,383 | $96,383 | |
Series A Convertible Preferred Stock [Member] | |||
Temporary Equity [Line Items] | |||
Convertible preferred stock, shares authorized | 7,028 | 7,028 | |
Convertible Preferred Stock, Shares Issued and Outstanding | 7,000 | 7,000 | |
Convertible Preferred Stock, Liquidation Preference | 3,500 | 3,500 | |
Series B Convertible Preferred Stock [Member] | |||
Temporary Equity [Line Items] | |||
Convertible preferred stock, shares authorized | 6,492 | 6,492 | |
Convertible Preferred Stock, Shares Issued and Outstanding | 6,492 | 6,492 | |
Convertible Preferred Stock, Liquidation Preference | 7,940 | 7,940 | |
Series C Convertible Preferred Stock [Member] | |||
Temporary Equity [Line Items] | |||
Convertible preferred stock, shares authorized | 2,852 | 2,852 | |
Convertible Preferred Stock, Shares Issued and Outstanding | 2,852 | 2,852 | |
Convertible Preferred Stock, Liquidation Preference | 9,943 | 9,943 | |
Series D Convertible Preferred Stock [Member] | |||
Temporary Equity [Line Items] | |||
Convertible preferred stock, shares authorized | 1,643 | 1,643 | |
Convertible Preferred Stock, Shares Issued and Outstanding | 1,566 | 1,566 | |
Convertible Preferred Stock, Liquidation Preference | 15,000 | 15,000 | |
Series E Preferred Stock [Member] | |||
Temporary Equity [Line Items] | |||
Convertible preferred stock, shares authorized | 3,447 | 4,308 | |
Convertible Preferred Stock, Shares Issued and Outstanding | 3,447 | 3,447 | |
Convertible Preferred Stock, Liquidation Preference | 60,000 | 60,000 | |
Series F Convertible Preferred Stock [Member] | |||
Temporary Equity [Line Items] | |||
Convertible preferred stock, shares authorized | 3,500 | ||
Convertible Preferred Stock, Shares Issued and Outstanding | 3,456 | ||
Convertible Preferred Stock, Liquidation Preference | $100,000 |
Convertible_Preferred_Stock_Ad
Convertible Preferred Stock - Additional Information (Detail) (USD $) | 12 Months Ended | 1 Months Ended | |||
In Millions, except Share data, unless otherwise specified | Mar. 31, 2015 | Dec. 31, 2014 | Apr. 30, 2014 | Dec. 17, 2014 | Mar. 31, 2014 |
Temporary Equity [Line Items] | |||||
Convertible preferred stock, description | The holders of Series F had the right to convert, at any time, into shares of common stock at an initial conversion ratio of 1:1, subject to adjustment based on antidilution protection, and all outstanding Series F would automatically convert into shares of common stock in the event that (i) the holders of a majority of outstanding Series F consent to conversion or (ii) immediately prior to the closing of a qualified IPO. The sale of common stock in the IPO triggered the weighted average anti-dilution provisions set forth in the Companybs amended and restated certificate of incorporation. At the IPO price of $23.00 per share, the per share conversion rate for the Companybs Series F convertible preferred stock into common stock was approximately 1:1.02. | ||||
Convertible preferred stock, shares authorized | 10,000,000 | 24,962,000 | 22,323,000 | ||
Convertible preferred stock, par value | $0.00 | $0.00 | |||
Initial Public Offering [Member] | |||||
Temporary Equity [Line Items] | |||||
Common stock shares issued, price per share | 23 | $23 | |||
Common Stock [Member] | |||||
Temporary Equity [Line Items] | |||||
Number of common stock shares issued upon conversion of convertible preferred stock | 24,885,778 | ||||
Series F Convertible Preferred Stock [Member] | |||||
Temporary Equity [Line Items] | |||||
Convertible preferred stock shares issued | 3,456,140 | ||||
Common stock shares issued, price per share | $28.93 | ||||
Proceeds from sale of Convertible preferred stock | $97.20 | ||||
Convertible preferred stock conversion rate | 1.02 | 1 | |||
Convertible preferred stock, shares authorized | 3,500,000 | ||||
Series F Convertible Preferred Stock [Member] | Initial Public Offering [Member] | |||||
Temporary Equity [Line Items] | |||||
Convertible preferred stock conversion rate | 1.02 |
Stock_Transactions_Additional_
Stock Transactions - Additional Information (Detail) (USD $) | 12 Months Ended | 1 Months Ended | ||||
In Thousands, except Share data, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 | Mar. 31, 2013 | Dec. 31, 2013 | Aug. 31, 2013 | Feb. 28, 2013 |
Class of Stock [Line Items] | ||||||
Total share-based compensation expense | $11,666 | $6,220 | $8,686 | |||
Cost of Revenue [Member] | ||||||
Class of Stock [Line Items] | ||||||
Total share-based compensation expense | 591 | 159 | 212 | |||
Research and Development [Member] | ||||||
Class of Stock [Line Items] | ||||||
Total share-based compensation expense | 2,055 | 1,425 | 1,620 | |||
Sales and Marketing [Member] | ||||||
Class of Stock [Line Items] | ||||||
Total share-based compensation expense | 5,108 | 1,373 | 2,060 | |||
General and Administrative [Member] | ||||||
Class of Stock [Line Items] | ||||||
Total share-based compensation expense | 3,912 | 3,263 | 4,794 | |||
Investors [Member] | ||||||
Class of Stock [Line Items] | ||||||
Total share-based compensation expense | 2,400 | 7,300 | ||||
Investors [Member] | Cost of Revenue [Member] | ||||||
Class of Stock [Line Items] | ||||||
Total share-based compensation expense | 200 | |||||
Investors [Member] | Research and Development [Member] | ||||||
Class of Stock [Line Items] | ||||||
Total share-based compensation expense | 800 | 1,400 | ||||
Investors [Member] | Sales and Marketing [Member] | ||||||
Class of Stock [Line Items] | ||||||
Total share-based compensation expense | 200 | 1,800 | ||||
Investors [Member] | General and Administrative [Member] | ||||||
Class of Stock [Line Items] | ||||||
Total share-based compensation expense | $1,400 | $3,900 | ||||
Common Stock [Member] | Investors [Member] | ||||||
Class of Stock [Line Items] | ||||||
Number of outstanding stock under tender offer | 347,000 | 347,000 | 862,000 | |||
Stock purchase price under tender offer | $17.41 | $17.41 | $17.41 |
Common_Stock_and_Stockholders_2
Common Stock and Stockholders' Equity (Deficit) - Schedule of Shares of Common Stock Reserved for Future Issuance (Detail) | Mar. 31, 2015 | Mar. 31, 2014 |
Class of Stock [Line Items] | ||
Shares of common stock reserved for future issuance | 16,423,000 | 28,627,000 |
Restricted Stock Units [Member] | ||
Class of Stock [Line Items] | ||
Shares of common stock reserved for future issuance | 723,000 | |
Available for Future Stock Option and RSU Grants [Member] | ||
Class of Stock [Line Items] | ||
Shares of common stock reserved for future issuance | 5,149,000 | 298,000 |
Available for Future Employee Stock Purchase Plan Awards [Member] | ||
Class of Stock [Line Items] | ||
Shares of common stock reserved for future issuance | 1,000,000 | |
Convertible Preferred Stock [Member] | ||
Class of Stock [Line Items] | ||
Shares of common stock reserved for future issuance | 21,357,000 | |
Warrants [Member] | ||
Class of Stock [Line Items] | ||
Shares of common stock reserved for future issuance | 49,000 | |
Common Stock Options Outstanding [Member] | ||
Class of Stock [Line Items] | ||
Shares of common stock reserved for future issuance | 9,422,000 | 6,923,000 |
Common Stock [Member] | ||
Class of Stock [Line Items] | ||
Shares of common stock reserved for future issuance | 129,000 |
Common_Stock_and_Stockholders_3
Common Stock and Stockholders' Equity (Deficit) - Additional Information (Detail) (USD $) | 12 Months Ended | 1 Months Ended | ||
Mar. 31, 2015 | Mar. 31, 2014 | Mar. 31, 2013 | Dec. 31, 2014 | |
Class of Stock [Line Items] | ||||
Common stock, shares authorized | 100,000,000 | 49,000,000 | ||
Common stock, par value | $0.00 | $0.00 | ||
Shares available for issuance | 16,423,000 | 28,627,000 | ||
Weighted-average grant-date fair value of options granted | $9.20 | $6.42 | $2.04 | |
Intrinsic value of options exercised | $8,700,000 | $2,100,000 | $2,600,000 | |
Fair value granted restricted stock awards shares of common stock | 733,000 | |||
Fair value of the restricted stock awards, shares issued | $23.85 | |||
Stock-based compensation expense | 11,666,000 | 6,220,000 | 8,686,000 | |
Stock options granted | 3,595,000 | |||
Stock-based compensation cost expected to be recognized over weighted-average period | 3 years 2 months 12 days | |||
Unrecognized stock-based compensation cost related to outstanding unvested stock awards | 46,400,000 | |||
New York Stock Exchange [Member] | ||||
Class of Stock [Line Items] | ||||
Closing stock price reported | $34.70 | |||
Nonemployees [Member] | ||||
Class of Stock [Line Items] | ||||
Stock-based compensation expense | 800,000 | 200,000 | 100,000 | |
Stock options granted | 181,095 | 7,000 | 300 | |
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 | $400,000 | $200,000 | ||
2014 Employee Stock Purchase Plan [Member] | ||||
Class of Stock [Line Items] | ||||
Shares reserved for issuance under plan | 1,000,000 | |||
Additional shares available for issuance under the plan | 500,000 | |||
Percentage of common stock shares increased under the plan | 1.00% | |||
2014 Equity Incentive Plan [Member] | ||||
Class of Stock [Line Items] | ||||
Shares reserved for issuance under plan | 5,000,000 | |||
Shares available for grant under plan | 5,184,878 | |||
Increase in shares available under plan, percentage of outstanding common stock shares | 5.00% | |||
Shares available for issuance | 5,148,501 | |||
Before Amendment and Restated [Member] | ||||
Class of Stock [Line Items] | ||||
Common stock, shares authorized | 55,000,000 |
Common_Stock_and_Stockholders_4
Common Stock and Stockholders' Equity (Deficit) - Schedule of Stock Option and RSU Award Activities (Detail) (USD $) | 12 Months Ended |
In Thousands, except Per Share data, unless otherwise specified | Mar. 31, 2015 |
Number of Shares | |
Beginning balance | 6,923 |
Stock options granted | 3,595 |
Stock options exercised | -490 |
Stock options canceled/forfeited | -606 |
Ending balance | 9,422 |
Options vested and expected to vest-March 31, 2015 | 8,379 |
Options vested and exercisable-March 31, 2015 | 4,152 |
Weighted-Average Exercise Price | |
Beginning balance | $4.86 |
Stock options granted | $19.08 |
Stock options exercised | $2.47 |
Stock options canceled/forfeited | $10.02 |
Ending balance | $10.08 |
Options vested and expected to vest- March 31, 2015 | $9.54 |
Options vested and exercisable- March 31, 2015 | $4.12 |
Weighted-Average Remaining Contractual Term (in years) | |
Balance | 7 years 10 months 24 days |
Options vested and expected to vest- March 31, 2015 | 7 years 9 months 18 days |
Options vested and exercisable- March 31, 2015 | 6 years 8 months 12 days |
Aggregate Intrinsic Value | |
Ending balance | $231,964 |
Options vested and expected to vest- March 31, 2015 | 210,774 |
Options vested and exercisable- March 31, 2015 | 126,989 |
Number of Shares | |
RSU granted | 733 |
RSU canceled/forfeited | -10 |
Ending balance | 723 |
RSUs expected to vest-March 31, 2015 | 638 |
Weighted-Average Grant Date Fair Value | |
RSU granted | $23.85 |
RSU canceled/forfeited | $23 |
Ending balance | $23.87 |
RSUs expected to vest-March 31, 2015 | $23.60 |
Weighted-Average Remaining Contractual Term (in years) | |
Balance | 3 years 6 months |
RSUs expected to vest-March 31, 2015 | 3 years 6 months |
Aggregate Intrinsic Value | |
Ending balance | 25,098 |
RSUs expected to vest-March 31, 2015 | $22,156 |
Common_Stock_and_Stockholders_5
Common Stock and Stockholders' Equity (Deficit) - Schedule of Assumptions Used to Estimate Fair Value of Share Options Granted (Detail) | 12 Months Ended | ||
Mar. 31, 2015 | Mar. 31, 2014 | Mar. 31, 2013 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Dividend yield | 0.00% | 0.00% | 0.00% |
Minimum [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Expected term (years) | 5 years | 5 years | 5 years |
Expected volatility | 45.00% | 47.00% | 50.00% |
Risk-free interest rate | 1.40% | 0.74% | 0.67% |
Maximum [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Expected term (years) | 6 years | 6 years | 6 years |
Expected volatility | 51.00% | 52.00% | 53.00% |
Risk-free interest rate | 2.01% | 1.87% | 0.97% |
Common_Stock_and_Stockholders_6
Common Stock and Stockholders' Equity (Deficit) - Schedule of Cost of Revenue, Research and Development, Sales and Marketing and General and Administrative Expenses (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 | Mar. 31, 2013 |
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | |||
Total stock-based compensation expense | $11,666 | $6,220 | $8,686 |
Cost of Revenue [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | |||
Total stock-based compensation expense | 591 | 159 | 212 |
Research and Development [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | |||
Total stock-based compensation expense | 2,055 | 1,425 | 1,620 |
Sales and Marketing [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | |||
Total stock-based compensation expense | 5,108 | 1,373 | 2,060 |
General and Administrative [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | |||
Total stock-based compensation expense | $3,912 | $3,263 | $4,794 |
Income_Taxes_Components_of_Los
Income Taxes - Components of Loss Before Income Taxes (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 | Mar. 31, 2013 |
Income Tax Disclosure [Abstract] | |||
Domestic | ($50,031) | ($40,237) | ($22,541) |
Foreign | -203 | 12 | |
Loss before income taxes | ($50,234) | ($40,225) | ($22,541) |
Income_Taxes_Additional_Inform
Income Taxes - Additional Information (Detail) (USD $) | 12 Months Ended | |||
Mar. 31, 2015 | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2012 | |
Income Tax Contingency [Line Items] | ||||
Expenses (benefit) from income taxes | ($85,000) | $0 | $0 | |
Valuation allowance for company | 16,900,000 | 13,400,000 | ||
State net operating losses | 112,700,000 | |||
U.S Federal net operating losses | 54,500,000 | |||
Stock-based compensation for tax deductions | 3,312,000 | 968,000 | ||
Federal tax credit carryforwards expire year | 2028 | |||
Minimum percentage of ownership required to increase in stock of the ownership | 5.00% | |||
Ownership change, increase in ownership percentage,term | 3 years | |||
Increase in ownership percentage of certain stockholders | 50.00% | |||
Accumulated unremitted earnings from foreign subsidiaries | 100,000 | 33,000 | 0 | |
Unrecognized tax benefits that would affect income tax expense | 1,800,000 | |||
Unrecognized tax benefits | 1,826,000 | 735,000 | 597,000 | 338,000 |
Interest and penalties related to uncertain tax positions | 0 | 0 | 0 | |
Federal Research and Development Credits [Member] | ||||
Income Tax Contingency [Line Items] | ||||
Expiration year | 2028 | |||
Stock-based compensation for tax deductions | 6,800,000 | |||
Federal Research and Development Credits [Member] | Research and Development [Member] | ||||
Income Tax Contingency [Line Items] | ||||
Research and development credits | 1,900,000 | |||
State Tax [Member] | ||||
Income Tax Contingency [Line Items] | ||||
Expiration year | 2024 | |||
Stock-based compensation for tax deductions | 5,400,000 | |||
California [Member] | Research and Development [Member] | ||||
Income Tax Contingency [Line Items] | ||||
Research and development credits | 600,000 | |||
Oregon [Member] | ||||
Income Tax Contingency [Line Items] | ||||
Federal tax credit carryforwards expire year | 2015 | |||
Oregon [Member] | Research and Development [Member] | ||||
Income Tax Contingency [Line Items] | ||||
Research and development credits | $500,000 |
Income_Taxes_Components_of_Pro
Income Taxes - Components of Provision for Income Taxes (Detail) (USD $) | 12 Months Ended | ||
Mar. 31, 2015 | Mar. 31, 2014 | Mar. 31, 2013 | |
Current provision: | |||
Federal | $0 | ||
State | 0 | ||
Foreign | 334,000 | ||
Total current provision | 334,000 | ||
Deferred provision: | |||
Federal | -8,000 | ||
State | 0 | ||
Foreign | -411,000 | ||
Total deferred provision | -419,000 | ||
Total income tax provision | ($85,000) | $0 | $0 |
Income_Taxes_Schedule_of_Effec
Income Taxes - Schedule of Effective Federal Statutory Tax Rate Reconciliation (Detail) | 12 Months Ended | ||
Mar. 31, 2015 | Mar. 31, 2014 | Mar. 31, 2013 | |
Income Tax Disclosure [Abstract] | |||
Federal statutory rate | 34.00% | 34.00% | 34.00% |
Effect of: | |||
State taxes, net of federal benefits | 1.50% | 1.70% | 5.20% |
Stock-based compensation | -4.50% | -4.90% | -11.40% |
Research and development credit | 1.80% | 1.90% | 1.20% |
Valuation allowance | -32.60% | -32.70% | -29.00% |
Effective tax rate | 0.20% |
Income_Taxes_Schedule_of_Net_D
Income Taxes - Schedule of Net Deferred Tax Assets and Liabilities (Detail) (USD $) | Mar. 31, 2015 | Mar. 31, 2014 |
In Thousands, unless otherwise specified | ||
Deferred tax assets: | ||
Accrued expenses | $2,345 | $1,222 |
Depreciation and amortization | 1,290 | 694 |
Net operating loss carryforwards | 38,837 | 24,434 |
Stock based compensation | 3,312 | 968 |
Research and development credits | 3,046 | 1,770 |
Gross deferred tax assets | 48,830 | 29,088 |
Valuation allowance | -43,710 | -26,848 |
Total deferred tax assets | 5,120 | 2,240 |
Deferred tax liabilities: | ||
Prepaids | -1,026 | |
Intangibles | -85 | |
Capitalized research and development | -4,088 | -2,240 |
Total deferred tax liabilities | -5,199 | -2,240 |
Total net deferred tax assets (liabilities) | ($79) |
Income_Taxes_Schedule_of_Unrec
Income Taxes - Schedule of Unrecognized Tax Benefits Reconciliation (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 | Mar. 31, 2013 |
Income Tax Disclosure [Abstract] | |||
Unrecognized tax benefits, Beginning balance | $735 | $597 | $338 |
Additions based on tax positions taken during the current period | 1,009 | 367 | 229 |
Additions based on tax positions taken during the prior period | 84 | 46 | 30 |
Reductions based on tax positions taken during the prior period | -2 | -275 | |
Unrecognized tax benefits, Ending balance | $1,826 | $735 | $597 |
Net_Loss_Per_Share_Computation
Net Loss Per Share - Computation of Net Loss Per Share Attributable to Common Stockholders, Basic and Diluted (Detail) (USD $) | 12 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 | Mar. 31, 2013 |
Numerator: | |||
Net loss | ($50,149) | ($40,225) | ($22,541) |
Denominator: | |||
Weighted average shares used to compute net loss per share attributable to common stockholder, basic and diluted | 25,290 | 15,596 | 15,096 |
Net loss per share-basic and diluted | ($1.98) | ($2.58) | ($1.49) |
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) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 | Mar. 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 | 10,274 | 28,329 | 25,896 |
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 | 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 | 9,422 | 6,923 | 4,490 |
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 | 723 | ||
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 | 129 | ||
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 | 49 | 49 |
Employee_Benefit_Plan_Addition
Employee Benefit Plan - Additional Information (Detail) (USD $) | 12 Months Ended | ||
Mar. 31, 2015 | Mar. 31, 2014 | Mar. 31, 2013 | |
Postemployment Benefits [Abstract] | |||
Contributions to employee benefit plan | $1,400,000 | $0 | $0 |
Revenue_by_Geographic_Location2
Revenue by Geographic Location - Schedule of Revenue by Geographic Areas (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 | Mar. 31, 2013 |
Segment Reporting Information [Line Items] | |||
Total revenue | $110,391 | $63,174 | $29,664 |
United States [Member] | |||
Segment Reporting Information [Line Items] | |||
Total revenue | 73,416 | 43,903 | 21,269 |
EMEA [Member] | |||
Segment Reporting Information [Line Items] | |||
Total revenue | 21,043 | 10,824 | 4,572 |
APAC [Member] | |||
Segment Reporting Information [Line Items] | |||
Total revenue | 8,732 | 4,574 | 2,261 |
Other [Member] | |||
Segment Reporting Information [Line Items] | |||
Total revenue | $7,200 | $3,873 | $1,562 |