Document and Entity Information
Document and Entity Information - shares | 3 Months Ended | |
Jun. 30, 2015 | Jul. 31, 2015 | |
Document And Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Jun. 30, 2015 | |
Document Fiscal Year Focus | 2,016 | |
Document Fiscal Period Focus | Q1 | |
Trading Symbol | NEWR | |
Entity Registrant Name | NEW RELIC INC | |
Entity Central Index Key | 1,448,056 | |
Current Fiscal Year End Date | --03-31 | |
Entity Filer Category | Non-accelerated Filer | |
Entity Common Stock, Shares Outstanding | 47,486,749 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets - USD ($) $ in Thousands | Jun. 30, 2015 | Mar. 31, 2015 |
Current assets: | ||
Cash and cash equivalents | $ 70,228 | $ 105,257 |
Short-term investments | 124,800 | 95,503 |
Accounts receivable, net of allowance for doubtful accounts of $375 and $282, respectively | 18,357 | 13,813 |
Prepaid expenses and other current assets | 4,741 | 4,299 |
Total current assets | 218,126 | 218,872 |
Property and equipment, net | 38,057 | 35,397 |
Restricted cash | 4,623 | 4,623 |
Goodwill | 2,053 | 2,053 |
Intangible assets, net | 2,046 | 2,300 |
Other assets | 1,560 | 1,466 |
Total assets | 266,465 | 264,711 |
Current liabilities: | ||
Accounts payable | 5,175 | 4,969 |
Accrued compensation and benefits | 6,889 | 6,288 |
Other current liabilities | 3,841 | 3,623 |
Deferred revenue | 38,515 | 29,185 |
Total current liabilities | 54,420 | 44,065 |
Deferred rent, non-current | 4,530 | 4,638 |
Other liabilities, non-current | 1,201 | 1,138 |
Total liabilities | $ 60,151 | $ 49,841 |
Commitments and contingencies (Note 6) | ||
Convertible preferred stock: | ||
Convertible preferred stock, $0.001 par value; 10,000 shares authorized at June 30, 2015 and March 31, 2015; no shares issued and outstanding at June 30, 2015 and March 31, 2015; | $ 0 | $ 0 |
Stockholders' equity: | ||
Common stock, $0.001 par value; 100,000 shares authorized at June 30, 2015 and March 31, 2015; 47,733 shares and 47,377 shares issued at June 30, 2015 and March 31, 2015; and 47,473 shares and 47,117 shares outstanding at June 30, 2015 and March 31, 2015; | 48 | 47 |
Treasury stock - at cost (260 shares) | (263) | (263) |
Additional paid-in capital | 353,258 | 346,671 |
Accumulated other comprehensive income (loss) | (10) | 15 |
Accumulated deficit | (146,719) | (131,600) |
Total stockholders' equity | 206,314 | 214,870 |
Total liabilities, convertible preferred stock and stockholders' equity | $ 266,465 | $ 264,711 |
Condensed Consolidated Balance3
Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands | Jun. 30, 2015 | Mar. 31, 2015 |
Statement of Financial Position [Abstract] | ||
Accounts receivable, allowance for doubtful accounts | $ 375 | $ 282 |
Convertible preferred stock, par value | $ 0.001 | $ 0.001 |
Convertible preferred stock, shares authorized | 10,000,000 | 10,000,000 |
Convertible preferred stock, shares issued | 0 | 0 |
Convertible preferred stock, shares outstanding | 0 | 0 |
Common stock, par value | $ 0.001 | $ 0.001 |
Common stock, shares authorized | 100,000,000 | 100,000,000 |
Common stock, shares issued | 47,733,000 | 47,377,000 |
Common stock, shares outstanding | 47,473,000 | 47,117,000 |
Treasury stock, shares | 260,000 | 260,000 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | |
Jun. 30, 2015 | Jun. 30, 2014 | |
Income Statement [Abstract] | ||
Revenue | $ 38,145 | $ 22,613 |
Cost of revenue | 7,866 | 4,032 |
Gross profit | 30,279 | 18,581 |
Operating expenses: | ||
Research and development | 8,754 | 4,912 |
Sales and marketing | 28,683 | 18,616 |
General and administrative | 7,984 | 5,360 |
Total operating expenses | 45,421 | 28,888 |
Loss from operations | (15,142) | (10,307) |
Other income (expense): | ||
Interest income | 141 | 5 |
Interest expense | (14) | (15) |
Other income (expense), net | (2) | 134 |
Loss before income taxes | (15,017) | (10,183) |
Income tax provision | 102 | |
Net loss | $ (15,119) | $ (10,183) |
Net loss per share attributable to common stockholders, basic and diluted | $ (0.32) | $ (0.65) |
Weighted-average shares used to compute net loss per share attributable to common stockholders, basic and diluted | 47,190 | 15,756 |
Condensed Consolidated Stateme5
Condensed Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands | 3 Months Ended | |
Jun. 30, 2015 | Jun. 30, 2014 | |
Statement of Comprehensive Income [Abstract] | ||
Net loss | $ (15,119) | $ (10,183) |
Other comprehensive loss: | ||
Unrealized loss on available-for-sale securities, net of tax | (25) | |
Comprehensive loss | $ (15,144) | $ (10,183) |
Condensed Consolidated Stateme6
Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 3 Months Ended | |
Jun. 30, 2015 | Jun. 30, 2014 | |
Cash flows from operating activities: | ||
Net loss | $ (15,119) | $ (10,183) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Depreciation and amortization | 3,301 | 1,561 |
Stock-based compensation expense | 4,659 | 1,931 |
Other | 418 | (44) |
Changes in operating assets and liabilities: | ||
Accounts receivable | (4,721) | (2,189) |
Prepaid expenses and other assets | (384) | (190) |
Accounts payable | (387) | (908) |
Accrued compensation and benefits and other liabilities | 827 | (155) |
Deferred revenue | 9,332 | 2,770 |
Deferred rent | (70) | 8 |
Net cash used in operating activities | (2,144) | (7,399) |
Cash flows from investing activities: | ||
Purchases of property and equipment | (2,671) | (2,385) |
Down payment for property and equipment | (32) | |
Increase in restricted cash | (28) | |
Purchases of short-term investments | (43,146) | |
Proceeds from sale and maturity of short-term investments | 13,625 | |
Capitalized software development costs | (2,209) | (1,946) |
Net cash used in investing activities | (34,401) | (4,391) |
Cash flows from financing activities: | ||
Proceeds from issuances of preferred stock, net of issuance costs | 97,247 | |
Payments of costs related to initial public offering | (1,087) | |
Proceeds from issuance of common stock | 1,516 | 182 |
Net cash provided by financing activities | 1,516 | 96,342 |
Net increase (decrease) in cash and cash equivalents | (35,029) | 84,552 |
Cash and cash equivalents, beginning of period | 105,257 | 19,453 |
Cash and cash equivalents, end of period | 70,228 | 104,005 |
Noncash investing and financing activities: | ||
Property and equipment purchased but not paid yet | $ 1,028 | 1,451 |
Accrued initial public offering costs | $ 227 |
Description of Business and Sum
Description of Business and Summary of Significant Accounting Policies | 3 Months Ended |
Jun. 30, 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 Basis of Presentation In the opinion of management, the unaudited condensed consolidated financial statements reflect all normal recurring adjustments necessary to present fairly the financial position, results of operations, comprehensive loss and cash flows for the interim periods, but are not necessarily indicative of the results of operations to be anticipated for the full fiscal year ending March 31, 2016. The condensed consolidated balance sheet as of March 31, 2015 included herein was derived from the audited financial statements as of that date. Initial Public Offering 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 Concentration of Risk Short-term Investments Business Combinations Goodwill Intangible Assets Recent Accounting Pronouncements 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 |
Business Combination
Business Combination | 3 Months Ended |
Jun. 30, 2015 | |
Business Combinations [Abstract] | |
Business Combination | 2. Business Combination In October 2014, the Company closed the acquisition of Few Ducks, S.L., (“Ducksboard”), a provider of real-time dashboards for tracking business metrics from a broad set of application sources, pursuant to which the Company acquired all of the capital stock of Ducksboard for 121,493 shares of the Company’s common stock, of which 108,234 shares have been issued and up to 13,259 shares will be released on the twelve month anniversary of the closing date, and $2.3 million in cash resulting in an aggregate preliminary purchase price of $4.2 million. Of the total purchase price, $2.1 million was allocated to goodwill, $2.8 million to identifiable intangible assets, and $0.7 million to net liabilities assumed. The addition of the Ducksboard technology complements the Company’s visualization expertise and 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 purposes. Pro forma revenue and results of operations have not been presented because the historical results of Ducksboard were not material to the Company’s condensed consolidated financial statements in any period presented. In connection with the acquisition, the Company may also issue 128,507 shares of its common stock to certain employees of Ducksboard, contingent upon their continuous employment with the Company. From the date of acquisition, compensation expense is recorded ratably over the respective service period of three years. |
Fair Value Measurements
Fair Value Measurements | 3 Months Ended |
Jun. 30, 2015 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements | 3. Fair Value Measurements The following tables present information about the Company’s financial assets measured at fair value on a recurring basis as of June 30, 2015 and March 31, 2015 based on the three-tier fair value hierarchy (in thousands): Fair Value Measurements as of June 30, 2015 Level 1 Level 2 Level 3 Total Description: Money market funds $ 36,123 $ — $ — $ 36,123 Commercial paper — 10,747 — 10,747 Corporate notes and bonds — 38,030 — 38,030 U.S. treasury securities 2,297 — — 2,297 U.S. government agencies — 73,726 — 73,726 Restricted cash - money market funds 4,623 — — 4,623 Total $ 43,043 $ 122,503 $ — $ 165,546 Included in cash and cash equivalents $ 36,123 Included in short-term investments $ 124,800 Included in restricted cash $ 4,623 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 There were no transfers between fair value measurement levels during the three months ended June 30, 2015. Level 3 instruments consisted 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 income (expense), net in the statement of operations. 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. During the three months ended June 30, 2014, the Company recognized a gain in the amount of $0.1 million, which was recorded as other income in the Company’s condensed consolidated statements of operations. Upon the closing of the IPO in December 2014, the Company ceased recording any further related periodic fair value adjustments. Gross unrealized gains or losses for cash equivalents and available-for-sale marketable securities as of June 30, 2015 and March 31, 2015 were not material. As of June 30, 2015 and March 31, 2015, 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 June 30, 2015 and March 31, 2015 (in thousands): June 30, March 31, 2015 2015 Due in one year $ 76,465 $ 53,287 Due in one to two years 48,335 42,216 Total $ 124,800 $ 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 | 3 Months Ended |
Jun. 30, 2015 | |
Property, Plant and Equipment [Abstract] | |
Property and Equipment | 4. Property and Equipment Property and equipment, net, consisted of the following (in thousands): June 30, March 31, 2015 2015 Computers, software, and equipment $ 3,554 $ 2,985 Site operation equipment 8,308 6,383 Furniture and fixtures 875 868 Leasehold improvements 21,246 20,513 Capitalized software development costs 23,872 21,402 Total property and equipment 57,855 52,151 Less: accumulated depreciation and amortization (19,798 ) (16,754 ) Total property and equipment, net $ 38,057 $ 35,397 Depreciation and amortization expense related to property and equipment was $3.0 million and $1.6 million for the three months ended June 30, 2015 and 2014, respectively. |
Goodwill and Purchased Intangib
Goodwill and Purchased Intangibles Assets | 3 Months Ended |
Jun. 30, 2015 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill and Purchased Intangibles Assets | 5. Goodwill and Purchased Intangibles Assets There were no changes to the carrying amount of goodwill for the three months ended June 30, 2015. Purchased intangible assets subject to amortization as of June 30, 2015 consist of the following (in thousands): Gross Carrying Accumulated Amortization Net Carrying Remaining Useful Life (In years) Developed technology $ 2,400 $ (600 ) $ 1,800 2.25 Customer relationships 100 (39 ) 61 1.25 Other intangible assets 300 (115 ) 185 1.25 $ 2,800 $ (754 ) $ 2,046 Purchased intangible assets subject to amortization as of March 31, 2015 consist of the following (in thousands): Gross Carrying Accumulated Amortization Net Carrying Amount Remaining Useful Life (In years) Developed technology $ 2,400 $ (400 ) $ 2,000 2.50 Customer relationships 100 (25 ) 75 1.50 Other intangible assets 300 (75 ) 225 1.50 $ 2,800 $ (500 ) $ 2,300 Amortization expense of purchased intangible assets for the three months ended June 30, 2015 was $0.3 million. No amortization expense was recorded for the three months ended June 30, 2014. Estimated future amortization expense as of June 30, 2015 is as follows (in thousands): 2016 (remaining 9 months) $ 746 2017 900 2018 400 2019 and thereafter — $ 2,046 |
Commitments and Contingencies
Commitments and Contingencies | 3 Months Ended |
Jun. 30, 2015 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | 6. Commitments and Contingencies Leases In June 2015, the Company entered into an eight-year lease with respect to office space within a building located in San Francisco, California, pursuant to which the Company will initially lease approximately 14,067 square feet on November 1, 2015 and then lease an additional approximately 42,201 square feet on June 1, 2016. Deferred Rent Rent expense, net of sublease income, for operating leases was $1.3 million for each of the three months ended June 30, 2015 and 2014. Future minimum lease payments under non-cancelable operating leases as of June 30, 2015 were as follows (in thousands): Years Ending March 31, Operating Leases 2016 (remaining 9 months) $ 4,771 2017 8,330 2018 10,206 2019 10,455 2020 10,745 Thereafter 22,951 Total minimum future lease payments $ 67,458 Purchase Commitments Legal Proceedings 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 June 30, 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 condensed consolidated financial statements. In addition, the Company indemnifies its officers, directors, and certain key employees while they are serving in good faith in their respective capacities. The Company does not currently believe there is a reasonable possibility that a loss may have been incurred under these indemnification obligations. To date, there have been no claims under any such indemnification provisions. |
Common Stock and Stockholders'
Common Stock and Stockholders' Equity | 3 Months Ended |
Jun. 30, 2015 | |
Equity [Abstract] | |
Common Stock and Stockholders' Equity | 7. Common Stock and Stockholders’ Equity Convertible preferred stock Common stock authorized Employee Stock Purchase Plan 2008 Equity Incentive Plan 2014 Equity Incentive Plan The following table summarizes the Company’s stock option and RSU award activities for the three months ended June 30, 2015 (in thousands, except per share information): Options Outstanding RSUs Outstanding Weighted- Average Contractual Weighted- Average Weighted- Average Contractual Number Weighted- Average Aggregate Number Grant Date Aggregate of Shares Exercise Price Term (in years) Intrinsic Value of Shares Fair Term (in years) Intrinsic Value Outstanding - April 1, 2015 9,422 $ 10.08 7.9 $ 231,964 723 $ 23.87 3.5 $ 25,098 Stock options granted 391 30.78 RSU granted 522 30.93 Stock options exercised (356 ) 4.26 9,883 Stock options canceled/forfeited (137 ) 16.98 RSU canceled/forfeited (16 ) 25.54 Outstanding - June 30, 2015 9,320 $ 11.07 7.5 $ 224,810 1,229 $ 26.85 3.6 $ 43,253 Restricted Stock Awards Stock Options Granted to Nonemployees Stock-Based Compensation Expense Three Months Ended June 30, 2015 2014 Cost of revenue $ 251 $ 93 Research and development 1,038 202 Sales and marketing 1,976 849 General and administrative 1,394 787 Total stock-based compensation expense $ 4,659 $ 1,931 As of June 30, 2015, unrecognized stock-based compensation cost related to outstanding unvested stock options was $39.6 million, which is expected to be recognized over a weighted-average period of approximately 2.8 years. As of June 30, 2015, unrecognized stock-based compensation cost related to outstanding unvested stock awards was $33.3 million, which is expected to be recognized over a weighted-average period of approximately 3.4 years. |
Income Taxes
Income Taxes | 3 Months Ended |
Jun. 30, 2015 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | 8. Income Taxes The Company is subject to income tax in the United States as well as other tax jurisdictions in which it conducts business. Earnings from non-U.S. activities are subject to local country income tax. The Company does not provide for federal income taxes on the undistributed earnings of its foreign subsidiaries as such earnings are to be reinvested indefinitely. The Company recorded an income tax provision of $0.1 million for the three months ended June 30, 2015 related to foreign income taxes and state minimum taxes. Based on the available objective evidence during the three months ended June 30, 2015, the Company believes it is more likely than not that the tax benefits of U.S. losses incurred during the three months ended June 30, 2015 may not be realized. Accordingly, the Company did not record the tax benefits of U.S. losses incurred during the three months ended June 30, 2015. The primary difference between the effective tax rate and the local statutory tax rate relates to the valuation allowance on the Company’s U.S. losses, foreign tax rate differences, and amortization of a deferred charge associated with the intercompany transfer of intellectual property from prior periods. As of June 30, 2015, the total amount of gross unrecognized tax benefits was $2.0 million, all of which would affect the Company’s effective tax rate if recognized before consideration of any valuation allowance. As of June 30, 2015, the Company had an immaterial amount related to the accrual of interest and penalties. During the three months ended June 30, 2015, the Company’s gross unrecognized tax benefits increased by $0.1 million, none of which would affect the Company’s effective tax rate if recognized. The Company does not have any tax positions as of June 30, 2015 for which it is reasonably possible that the total amount of gross unrecognized tax benefits will significantly increase or decrease within the next 12 months. |
Net Loss Per Share
Net Loss Per Share | 3 Months Ended |
Jun. 30, 2015 | |
Earnings Per Share [Abstract] | |
Net Loss Per Share | 9. Net Loss Per Share Basic loss per share is calculated by dividing net loss by the weighted-average number of common shares outstanding during the period, less shares subject to repurchase, and excludes any dilutive effects of employee share-based awards and warrants. Diluted net loss per common share is computed giving effect to all potential dilutive common shares, including common stock issuable upon exercise of stock options, and unvested restricted common stock. As the Company had net losses for each of the three months ended June 30, 2015 and 2014, all potential common shares were determined to be anti-dilutive. The following table sets forth the computation of net loss per share attributable to common stockholders, basic and diluted (in thousands, except per share amounts): Three Months Ended June 30, 2015 2014 Numerator: Net loss $ (15,119 ) $ (10,183 ) Denominator: Weighted average shares used to compute net loss per share attributable to common stockholder, basic and diluted 47,190 15,756 Net loss per share—basic and diluted $ (0.32 ) $ (0.65 ) 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 June 30, 2015 2014 Convertible preferred stock — 24,813 Options to purchase common stock 9,320 8,123 Common stock reserved for issuance in connection with acquisition 129 — Restricted stock units 1,229 — Warrants — 49 10,678 32,985 |
Revenue by Geographic Location
Revenue by Geographic Location | 3 Months Ended |
Jun. 30, 2015 | |
Segment Reporting [Abstract] | |
Revenue by Geographic Location | 10. Revenue by Geographic Location The following table shows the Company’s revenue by geographic areas, as determined based on the billing address of its customers (in thousands): Three Months Ended June 30, 2015 2014 United States $ 25,394 $ 15,264 EMEA 7,407 4,182 APAC 2,944 1,749 Other 2,400 1,418 Total revenue $ 38,145 $ 22,613 Substantially all of the Company’s long-lived assets were attributable to operations in the United States as of June 30, 2015 and March 31, 2015. |
Description of Business and S17
Description of Business and Summary of Significant Accounting Policies (Policies) | 3 Months Ended |
Jun. 30, 2015 | |
Accounting Policies [Abstract] | |
Description of Business | Description of Business |
Basis of Presentation | Basis of Presentation In the opinion of management, the unaudited condensed consolidated financial statements reflect all normal recurring adjustments necessary to present fairly the financial position, results of operations, comprehensive loss and cash flows for the interim periods, but are not necessarily indicative of the results of operations to be anticipated for the full fiscal year ending March 31, 2016. The condensed consolidated balance sheet as of March 31, 2015 included herein was derived from the audited financial statements as of that date. |
Initial Public Offering | Initial Public Offering 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 |
Concentration of Risk | Concentration of Risk |
Short-term Investments | Short-term Investments |
Business Combinations | Business Combinations |
Goodwill | Goodwill |
Intangible Assets | Intangible Assets |
Recent Accounting Pronouncements | Recent Accounting Pronouncements 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 |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 3 Months Ended |
Jun. 30, 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 June 30, 2015 and March 31, 2015 based on the three-tier fair value hierarchy (in thousands): Fair Value Measurements as of June 30, 2015 Level 1 Level 2 Level 3 Total Description: Money market funds $ 36,123 $ — $ — $ 36,123 Commercial paper — 10,747 — 10,747 Corporate notes and bonds — 38,030 — 38,030 U.S. treasury securities 2,297 — — 2,297 U.S. government agencies — 73,726 — 73,726 Restricted cash - money market funds 4,623 — — 4,623 Total $ 43,043 $ 122,503 $ — $ 165,546 Included in cash and cash equivalents $ 36,123 Included in short-term investments $ 124,800 Included in restricted cash $ 4,623 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 |
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 June 30, 2015 and March 31, 2015 (in thousands): June 30, March 31, 2015 2015 Due in one year $ 76,465 $ 53,287 Due in one to two years 48,335 42,216 Total $ 124,800 $ 95,503 |
Property and Equipment (Tables)
Property and Equipment (Tables) | 3 Months Ended |
Jun. 30, 2015 | |
Property, Plant and Equipment [Abstract] | |
Schedule of Property and Equipment, Net | Property and equipment, net, consisted of the following (in thousands): June 30, March 31, 2015 2015 Computers, software, and equipment $ 3,554 $ 2,985 Site operation equipment 8,308 6,383 Furniture and fixtures 875 868 Leasehold improvements 21,246 20,513 Capitalized software development costs 23,872 21,402 Total property and equipment 57,855 52,151 Less: accumulated depreciation and amortization (19,798 ) (16,754 ) Total property and equipment, net $ 38,057 $ 35,397 |
Goodwill and Purchased Intang20
Goodwill and Purchased Intangibles Assets (Tables) | 3 Months Ended |
Jun. 30, 2015 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Schedule of Purchased Intangible Assets Subject to Amortization | Purchased intangible assets subject to amortization as of June 30, 2015 consist of the following (in thousands): Gross Carrying Accumulated Amortization Net Carrying Remaining Useful Life (In years) Developed technology $ 2,400 $ (600 ) $ 1,800 2.25 Customer relationships 100 (39 ) 61 1.25 Other intangible assets 300 (115 ) 185 1.25 $ 2,800 $ (754 ) $ 2,046 Purchased intangible assets subject to amortization as of March 31, 2015 consist of the following (in thousands): Gross Carrying Accumulated Amortization Net Carrying Amount Remaining Useful Life (In years) Developed technology $ 2,400 $ (400 ) $ 2,000 2.50 Customer relationships 100 (25 ) 75 1.50 Other intangible assets 300 (75 ) 225 1.50 $ 2,800 $ (500 ) $ 2,300 |
Schedule of Estimated Future Amortization Expense | Estimated future amortization expense as of June 30, 2015 is as follows (in thousands): 2016 (remaining 9 months) $ 746 2017 900 2018 400 2019 and thereafter — $ 2,046 |
Commitments and Contingencies (
Commitments and Contingencies (Tables) | 3 Months Ended |
Jun. 30, 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 June 30, 2015 were as follows (in thousands): Years Ending March 31, Operating Leases 2016 (remaining 9 months) $ 4,771 2017 8,330 2018 10,206 2019 10,455 2020 10,745 Thereafter 22,951 Total minimum future lease payments $ 67,458 |
Common Stock and Stockholders22
Common Stock and Stockholders' Equity (Tables) | 3 Months Ended |
Jun. 30, 2015 | |
Equity [Abstract] | |
Schedule of Stock Option and RSU Award Activities | The following table summarizes the Company’s stock option and RSU award activities for the three months ended June 30, 2015 (in thousands, except per share information): Options Outstanding RSUs Outstanding Weighted- Average Contractual Weighted- Average Weighted- Average Contractual Number Weighted- Average Aggregate Number Grant Date Aggregate of Shares Exercise Price Term (in years) Intrinsic Value of Shares Fair Term (in years) Intrinsic Value Outstanding - April 1, 2015 9,422 $ 10.08 7.9 $ 231,964 723 $ 23.87 3.5 $ 25,098 Stock options granted 391 30.78 RSU granted 522 30.93 Stock options exercised (356 ) 4.26 9,883 Stock options canceled/forfeited (137 ) 16.98 RSU canceled/forfeited (16 ) 25.54 Outstanding - June 30, 2015 9,320 $ 11.07 7.5 $ 224,810 1,229 $ 26.85 3.6 $ 43,253 |
Schedule of Cost of Revenue, Research and Development, Sales and Marketing and General and Administrative Expenses | Cost of revenue, research and development, sales and marketing, and general and administrative expenses were as follows (in thousands): Three Months Ended June 30, 2015 2014 Cost of revenue $ 251 $ 93 Research and development 1,038 202 Sales and marketing 1,976 849 General and administrative 1,394 787 Total stock-based compensation expense $ 4,659 $ 1,931 |
Net Loss Per Share (Tables)
Net Loss Per Share (Tables) | 3 Months Ended |
Jun. 30, 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): Three Months Ended June 30, 2015 2014 Numerator: Net loss $ (15,119 ) $ (10,183 ) Denominator: Weighted average shares used to compute net loss per share attributable to common stockholder, basic and diluted 47,190 15,756 Net loss per share—basic and diluted $ (0.32 ) $ (0.65 ) |
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 June 30, 2015 2014 Convertible preferred stock — 24,813 Options to purchase common stock 9,320 8,123 Common stock reserved for issuance in connection with acquisition 129 — Restricted stock units 1,229 — Warrants — 49 10,678 32,985 |
Revenue by Geographic Location
Revenue by Geographic Location (Tables) | 3 Months Ended |
Jun. 30, 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): Three Months Ended June 30, 2015 2014 United States $ 25,394 $ 15,264 EMEA 7,407 4,182 APAC 2,944 1,749 Other 2,400 1,418 Total revenue $ 38,145 $ 22,613 |
Description of Business and S25
Description of Business and Summary of Significant Accounting Policies - Additional Information (Detail) | 1 Months Ended | 3 Months Ended | 12 Months Ended | 88 Months Ended | |||
Jun. 30, 2015shares | Dec. 31, 2014USD ($)$ / sharesshares | Jun. 30, 2015USD ($)Customer | Mar. 31, 2015Customer | Jun. 30, 2014Customer | Mar. 31, 2015USD ($) | Jun. 30, 2015USD ($) | |
Description Of Business And Summary Of Significant Accounting Policies [Line Items] | |||||||
Company incorporation date | Feb. 20, 2008 | ||||||
Entity Incorporation, State Name | Delaware | ||||||
Other-than-temporarily impaired investments | $ | $ 0 | $ 0 | |||||
Goodwill impairment | $ | $ 0 | ||||||
Common Stock [Member] | |||||||
Description Of Business And Summary Of Significant Accounting Policies [Line Items] | |||||||
Number of common stock shares issued upon conversion of convertible preferred stock | 24,885,778 | 24,885,778 | |||||
Series F Convertible Preferred Stock [Member] | |||||||
Description Of Business And Summary Of Significant Accounting Policies [Line Items] | |||||||
Convertible preferred stock conversion rate | 1.02 | ||||||
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 | ||||||
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 | $ / shares | $ 23 | ||||||
Offering expenses | $ | $ 3,100,000 | ||||||
Accounts Receivable [Member] | |||||||
Description Of Business And Summary Of Significant Accounting Policies [Line Items] | |||||||
Number of customers | Customer | 1 | 1 | |||||
Revenue [Member] | |||||||
Description Of Business And Summary Of Significant Accounting Policies [Line Items] | |||||||
Number of customers | Customer | 0 | 0 | |||||
Credit Concentration Risk [Member] | Accounts Receivable [Member] | |||||||
Description Of Business And Summary Of Significant Accounting Policies [Line Items] | |||||||
Concentration of risk, percentage | 16.00% | 12.00% | |||||
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% |
Business Combination - Addition
Business Combination - Additional Information (Detail) - USD ($) $ in Thousands | 1 Months Ended | ||
Oct. 31, 2014 | Jun. 30, 2015 | Mar. 31, 2015 | |
Business Acquisition [Line Items] | |||
Preliminary purchase price allocation, goodwill | $ 2,053 | $ 2,053 | |
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 | ||
Business acquisition, aggregate purchase price | 4,200 | ||
Preliminary purchase price allocation, goodwill | 2,100 | ||
Preliminary purchase price allocation, identifiable intangible assets | 2,800 | ||
Preliminary purchase price allocation, net liabilities assumed | $ 700 | ||
Business acquisition obligation to issue common stock, shares | 128,507 | ||
Service period of compensation expense | 3 years |
Fair Value Measurements - Infor
Fair Value Measurements - Information about Financial Assets Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands | Jun. 30, 2015 | Mar. 31, 2015 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets fair value | $ 165,546 | $ 165,580 |
Cash and Cash Equivalents [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets fair value | 36,123 | 65,454 |
Short-Term Investments [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets fair value | 124,800 | 95,503 |
Restricted Cash [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets fair value | 4,623 | 4,623 |
Money Market Funds [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets fair value | 36,123 | 56,455 |
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 | 10,747 | 30,288 |
Corporate Notes and Bonds [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets fair value | 38,030 | 38,715 |
US Treasury Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets fair value | 2,297 | 500 |
US Government Agencies [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets fair value | 73,726 | 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 | 4,623 |
Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets fair value | 43,043 | 61,578 |
Level 1 [Member] | Money Market Funds [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets fair value | 36,123 | 56,455 |
Level 1 [Member] | US Treasury Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets fair value | 2,297 | 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 | 4,623 |
Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets fair value | 122,503 | 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 | 10,747 | 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 | 38,030 | 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 | $ 73,726 | $ 33,199 |
Fair Value Measurements - Addit
Fair Value Measurements - Additional Information (Detail) - USD ($) | 3 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Mar. 31, 2015 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Abstract] | |||
Transfers between fair value measurement levels | $ 0 | ||
Fair value measurements gain recognized | $ 100,000 | ||
Closing date of IPO | Dec. 31, 2014 | ||
Unrealized loss position of securities for more than 12 months | $ 0 | $ 0 |
Fair Value Measurements - Class
Fair Value Measurements - Classification of Available-for-Sale Short-Term Investments by Contractual Maturities (Detail) - USD ($) $ in Thousands | Jun. 30, 2015 | Mar. 31, 2015 |
Available-for-sale Securities, Debt Maturities, Fair Value, Fiscal Year Maturity [Abstract] | ||
Due in one year | $ 76,465 | $ 53,287 |
Due in one to two years | 48,335 | 42,216 |
Total | $ 124,800 | $ 95,503 |
Property and Equipment - Schedu
Property and Equipment - Schedule of Property and Equipment, Net (Detail) - USD ($) $ in Thousands | Jun. 30, 2015 | Mar. 31, 2015 |
Property, Plant and Equipment [Line Items] | ||
Total property and equipment | $ 57,855 | $ 52,151 |
Less: accumulated depreciation and amortization | (19,798) | (16,754) |
Total property and equipment, net | 38,057 | 35,397 |
Computers, Software, and Equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Total property and equipment | 3,554 | 2,985 |
Site Operation Equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Total property and equipment | 8,308 | 6,383 |
Furniture and Fixtures [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Total property and equipment | 875 | 868 |
Leasehold Improvements [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Total property and equipment | 21,246 | 20,513 |
Capitalized Software Development Costs [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Total property and equipment | $ 23,872 | $ 21,402 |
Property and Equipment - Additi
Property and Equipment - Additional Information (Detail) - USD ($) $ in Millions | 3 Months Ended | |
Jun. 30, 2015 | Jun. 30, 2014 | |
Property, Plant and Equipment [Abstract] | ||
Depreciation and amortization expense | $ 3 | $ 1.6 |
Goodwill and Purchased Intang32
Goodwill and Purchased Intangibles Assets - Additional Information (Detail) - USD ($) | 3 Months Ended | |
Jun. 30, 2015 | Jun. 30, 2014 | |
Goodwill and Intangible Assets Disclosure [Abstract] | ||
Change in carrying amount of goodwill | $ 0 | |
Amortization expense | $ 300,000 | $ 0 |
Goodwill and Purchased Intang33
Goodwill and Purchased Intangibles Assets - Schedule of Purchased Intangible Assets Subject to Amortization (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Jun. 30, 2015 | Mar. 31, 2015 | |
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Amount | $ 2,800 | $ 2,800 |
Accumulated Amortization | (754) | (500) |
Net Carrying Amount | 2,046 | 2,300 |
Developed Technology Rights [Member] | ||
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Amount | 2,400 | 2,400 |
Accumulated Amortization | (600) | (400) |
Net Carrying Amount | $ 1,800 | $ 2,000 |
Remaining Useful Life (In years) | 2 years 3 months | 2 years 6 months |
Customer Relationships [Member] | ||
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Amount | $ 100 | $ 100 |
Accumulated Amortization | (39) | (25) |
Net Carrying Amount | $ 61 | $ 75 |
Remaining Useful Life (In years) | 1 year 3 months | 1 year 6 months |
Other Intangible Assets [Member] | ||
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Amount | $ 300 | $ 300 |
Accumulated Amortization | (115) | (75) |
Net Carrying Amount | $ 185 | $ 225 |
Remaining Useful Life (In years) | 1 year 3 months | 1 year 6 months |
Goodwill and Purchased Intang34
Goodwill and Purchased Intangibles Assets - Schedule of Estimated Future Amortization Expense (Detail) - USD ($) $ in Thousands | Jun. 30, 2015 | Mar. 31, 2015 |
Goodwill and Intangible Assets Disclosure [Abstract] | ||
2016 (remaining 9 months) | $ 746 | |
2,017 | 900 | |
2,018 | 400 | |
2019 and thereafter | 0 | |
Net Carrying Amount | $ 2,046 | $ 2,300 |
Commitments and Contingencies -
Commitments and Contingencies - Additional Information (Detail) | 3 Months Ended | ||
Jun. 30, 2015USD ($)ft² | Jun. 30, 2014USD ($) | Mar. 31, 2015USD ($) | |
Operating Leased Assets [Line Items] | |||
Non-cancelable operating lease agreements, expiration dates | From 2015 through 2023 | ||
Deferred rent | $ 4,900,000 | $ 4,900,000 | |
Rent expense, net of sublease income, for operating leases | 1,300,000 | $ 1,300,000 | |
Purchase commitments | 4,400,000 | $ 3,600,000 | |
Accrued loss | $ 0 | ||
San Francisco, California [Member] | |||
Operating Leased Assets [Line Items] | |||
Operating lease agreements, lease term | 8 years | ||
Operating lease agreements, area leased | ft² | 14,067 | ||
Operating lease agreements, additional area leased | ft² | 42,201 |
Commitments and Contingencies36
Commitments and Contingencies - Future Minimum Lease Payments Under Non-Cancelable Operating Leases (Detail) $ in Thousands | Jun. 30, 2015USD ($) |
Leases [Abstract] | |
2016 (remaining 9 months) | $ 4,771 |
2,017 | 8,330 |
2,018 | 10,206 |
2,019 | 10,455 |
2,020 | 10,745 |
Thereafter | 22,951 |
Total minimum future lease payments | $ 67,458 |
Common Stock and Stockholders37
Common Stock and Stockholders' Equity - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands | 1 Months Ended | 3 Months Ended | |||||
Jun. 30, 2015 | Dec. 31, 2014 | May. 31, 2014 | Aug. 31, 2013 | Jun. 30, 2015 | Jun. 30, 2014 | Mar. 31, 2015 | |
Class of Stock [Line Items] | |||||||
Preferred stock, shares authorized | 10,000,000 | 10,000,000 | |||||
Preferred stock, par value | $ 0.001 | $ 0.001 | |||||
Common stock, shares authorized | 100,000,000 | 100,000,000 | 100,000,000 | ||||
Common stock, par value | $ 0.001 | $ 0.001 | $ 0.001 | ||||
Fair value granted restricted stock awards shares of common stock | 522,000 | ||||||
Grant date fair value of restricted stock awards, per share | $ 30.93 | ||||||
Stock-based compensation expense | $ 4,659 | $ 1,931 | |||||
Stock options granted | 391,000 | ||||||
Stock-based compensation cost expected to be recognized over weighted-average period | 3 years 4 months 24 days | ||||||
Unrecognized stock-based compensation cost related to outstanding unvested stock awards | $ 33,300 | $ 33,300 | |||||
Expected to vest unrecognized stock-based compensation cost related to outstanding unvested stock options | $ 39,600 | $ 39,600 | |||||
Stock based compensation cost is expected to be recognized over a weighted-average period | 2 years 9 months 18 days | ||||||
Nonemployees [Member] | |||||||
Class of Stock [Line Items] | |||||||
Stock-based compensation expense | $ 200 | $ 100 | |||||
Stock options granted | 4,301 | 14,300 | |||||
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 | $ 900 | |||||
Grant date fair value of restricted stock awards, per share | $ 16.93 | $ 9.37 | |||||
Common stock vesting period | 4 years | 4 years | |||||
Stock-based compensation expense | $ 100 | $ 100 | |||||
2014 Employee Stock Purchase Plan [Member] | |||||||
Class of Stock [Line Items] | |||||||
Shares reserved for issuance under plan | 1,000,000 | 1,000,000 | |||||
Additional shares available for issuance under the plan | 500,000 | ||||||
Percentage of common stock shares increased under the plan | 1.00% | ||||||
Shares available for issuance | 1,471,169 | 1,471,169 | |||||
2014 Equity Incentive Plan [Member] | |||||||
Class of Stock [Line Items] | |||||||
Shares reserved for issuance under plan | 5,000,000 | ||||||
Shares available for issuance | 6,745,182 | 6,745,182 | |||||
Shares available for grant under plan | 5,184,878 | ||||||
Increase in shares available under plan, percentage of outstanding common stock shares | 5.00% | ||||||
2008 Equity Incentive Plan [Member] | |||||||
Class of Stock [Line Items] | |||||||
Shares available for issuance | 0 | 0 | |||||
Before Amendment and Restated [Member] | |||||||
Class of Stock [Line Items] | |||||||
Common stock, shares authorized | 55,000,000 | 55,000,000 | |||||
Common Stock [Member] | |||||||
Class of Stock [Line Items] | |||||||
Number of common stock shares issued upon conversion of convertible preferred stock | 24,885,778 | 24,885,778 |
Common Stock and Stockholders38
Common Stock and Stockholders' Equity - Schedule of Stock Option and RSU Award Activities (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 12 Months Ended |
Jun. 30, 2015 | Mar. 31, 2015 | |
Number of Shares | ||
Beginning balance | 9,422 | |
Stock options granted | 391 | |
Stock options exercised | (356) | |
Stock options canceled/forfeited | (137) | |
Ending balance | 9,320 | 9,422 |
Weighted-Average Exercise Price | ||
Beginning balance | $ 10.08 | |
Stock options granted | 30.78 | |
Stock options exercised | 4.26 | |
Stock options canceled/forfeited | 16.98 | |
Ending balance | $ 11.07 | $ 10.08 |
Weighted-Average Remaining Contractual Term (in years) | ||
Balance | 7 years 6 months | 7 years 10 months 24 days |
Aggregate Intrinsic Value | ||
Beginning balance | $ 231,964 | |
Stock options exercised | 9,883 | |
Ending balance | $ 224,810 | $ 231,964 |
Number of Shares | ||
Beginning balance | 723 | |
RSU granted | 522 | |
RSU canceled/forfeited | (16) | |
Ending balance | 1,229 | 723 |
Weighted-Average Grant Date Fair Value | ||
Beginning balance | $ 23.87 | |
RSU granted | 30.93 | |
RSU canceled/forfeited | 25.54 | |
Ending balance | $ 26.85 | $ 23.87 |
Weighted-Average Remaining Contractual Term (in years) | ||
Balance | 3 years 7 months 6 days | 3 years 6 months |
Aggregate Intrinsic Value | ||
Beginning balance | $ 25,098 | |
Ending balance | $ 43,253 | $ 25,098 |
Common Stock and Stockholders39
Common Stock and Stockholders' Equity - Schedule of Cost of Revenue, Research and Development, Sales and Marketing and General and Administrative Expenses (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Jun. 30, 2015 | Jun. 30, 2014 | |
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ||
Total stock-based compensation expense | $ 4,659 | $ 1,931 |
Cost of Revenue [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ||
Total stock-based compensation expense | 251 | 93 |
Research and Development [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ||
Total stock-based compensation expense | 1,038 | 202 |
Sales and Marketing [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ||
Total stock-based compensation expense | 1,976 | 849 |
General and Administrative [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ||
Total stock-based compensation expense | $ 1,394 | $ 787 |
Income Taxes - Additional Infor
Income Taxes - Additional Information (Detail) - Jun. 30, 2015 - USD ($) | Total |
Income Tax Contingency [Line Items] | |
Income tax provision | $ 102,000 |
Unrecognized tax benefits | 2,000,000 |
Unrecognized tax benefits that would affect income tax expense | 2,000,000 |
Changes to unrecognized tax benefits | 100,000 |
Increase in unrecognized tax benefits that would affect income tax expense | $ 0 |
Change in unrecognized tax benefits, description | The Company does not have any tax positions as of June 30, 2015 for which it is reasonably possible that the total amount of gross unrecognized tax benefits will significantly increase or decrease within the next 12 months. |
U.S. [Member] | |
Income Tax Contingency [Line Items] | |
Income tax provision | $ 0 |
Net Loss Per Share - Computatio
Net Loss Per Share - Computation of Net Loss Per Share Attributable to Common Stockholders, Basic and Diluted (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | |
Jun. 30, 2015 | Jun. 30, 2014 | |
Numerator: | ||
Net loss | $ (15,119) | $ (10,183) |
Denominator: | ||
Weighted average shares used to compute net loss per share attributable to common stockholder, basic and diluted | 47,190 | 15,756 |
Net loss per share-basic and diluted | $ (0.32) | $ (0.65) |
Net Loss Per Share - Antidiluti
Net Loss Per Share - Antidilutive Securities Excluded from Computation of Diluted Net Loss per Common Share of Common Stock Equivalents (Detail) - shares shares in Thousands | 3 Months Ended | |
Jun. 30, 2015 | Jun. 30, 2014 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Antidilutive securities excluded from computation of diluted net loss per common share | 10,678 | 32,985 |
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 | 24,813 | |
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 | 9,320 | 8,123 |
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 | 1,229 | |
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 |
Revenue by Geographic Locatio43
Revenue by Geographic Location - Schedule of Revenue by Geographic Areas (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Jun. 30, 2015 | Jun. 30, 2014 | |
Segment Reporting Information [Line Items] | ||
Total revenue | $ 38,145 | $ 22,613 |
United States [Member] | ||
Segment Reporting Information [Line Items] | ||
Total revenue | 25,394 | 15,264 |
EMEA [Member] | ||
Segment Reporting Information [Line Items] | ||
Total revenue | 7,407 | 4,182 |
APAC [Member] | ||
Segment Reporting Information [Line Items] | ||
Total revenue | 2,944 | 1,749 |
Other [Member] | ||
Segment Reporting Information [Line Items] | ||
Total revenue | $ 2,400 | $ 1,418 |