Document and Entity Information
Document and Entity Information - shares | 9 Months Ended | |
Dec. 31, 2015 | Jan. 29, 2016 | |
Document And Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Dec. 31, 2015 | |
Document Fiscal Year Focus | 2,016 | |
Document Fiscal Period Focus | Q3 | |
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 | 49,545,812 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets - USD ($) $ in Thousands | Dec. 31, 2015 | Mar. 31, 2015 |
Current assets: | ||
Cash and cash equivalents | $ 71,901 | $ 105,257 |
Short-term investments | 119,105 | 95,503 |
Accounts receivable, net of allowance for doubtful accounts of $478 and $282, respectively | 23,408 | 13,813 |
Prepaid expenses and other current assets | 5,676 | 4,299 |
Total current assets | 220,090 | 218,872 |
Property and equipment, net | 40,398 | 35,397 |
Restricted cash | 8,023 | 4,623 |
Goodwill | 11,828 | 2,053 |
Intangible assets, net | 3,919 | 2,300 |
Other assets, non-current | 1,583 | 1,466 |
Total assets | 285,841 | 264,711 |
Current liabilities: | ||
Accounts payable | 6,630 | 4,969 |
Accrued compensation and benefits | 8,893 | 6,288 |
Other current liabilities | 4,516 | 3,623 |
Deferred revenue | 55,370 | 29,185 |
Total current liabilities | 75,409 | 44,065 |
Deferred rent, non-current | 4,770 | 4,638 |
Deferred revenue, non-current | 2,689 | 124 |
Other liabilities, non-current | 1,616 | 1,014 |
Total liabilities | $ 84,484 | $ 49,841 |
Commitments and contingencies (Note 6) | ||
Stockholders' equity: | ||
Common stock, $0.001 par value; 100,000 shares authorized at December 31, 2015 and March 31, 2015; 49,684 shares and 47,377 shares issued at December 31, 2015 and March 31, 2015; and 49,424 shares and 47,117 shares outstanding at December 31, 2015 and March 31, 2015 | $ 50 | $ 47 |
Treasury stock - at cost (260 shares) | (263) | (263) |
Additional paid-in capital | 381,634 | 346,671 |
Accumulated other comprehensive (loss) income | (171) | 15 |
Accumulated deficit | (179,893) | (131,600) |
Total stockholders' equity | 201,357 | 214,870 |
Total liabilities and stockholders' equity | $ 285,841 | $ 264,711 |
Condensed Consolidated Balance3
Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands | Dec. 31, 2015 | Mar. 31, 2015 |
Statement of Financial Position [Abstract] | ||
Accounts receivable, allowance for doubtful accounts | $ 478 | $ 282 |
Common stock, par value | $ 0.001 | $ 0.001 |
Common stock, shares authorized | 100,000,000 | 100,000,000 |
Common stock, shares issued | 49,684,000 | 47,377,000 |
Common stock, shares outstanding | 49,424,000 | 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 | 9 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2015 | Dec. 31, 2014 | |
Income Statement [Abstract] | ||||
Revenue | $ 47,744 | $ 29,029 | $ 128,817 | $ 77,003 |
Cost of revenue | 9,744 | 5,940 | 26,562 | 15,001 |
Gross profit | 38,000 | 23,089 | 102,255 | 62,002 |
Operating expenses: | ||||
Research and development | 12,015 | 6,410 | 31,385 | 16,659 |
Sales and marketing | 35,153 | 25,460 | 93,201 | 63,094 |
General and administrative | 9,070 | 6,864 | 26,014 | 17,464 |
Total operating expenses | 56,238 | 38,734 | 150,600 | 97,217 |
Loss from operations | (18,238) | (15,645) | (48,345) | (35,215) |
Other income (expense): | ||||
Interest income | 158 | 47 | 448 | 65 |
Interest expense | (20) | (54) | (47) | (83) |
Other expense, net | (163) | (381) | (196) | (195) |
Loss before income taxes | (18,263) | (16,033) | (48,140) | (35,428) |
Income tax provision (benefit) | 92 | (104) | 153 | (104) |
Net loss | $ (18,355) | $ (15,929) | $ (48,293) | $ (35,324) |
Net loss per share attributable to common stockholders, basic and diluted | $ (0.37) | $ (0.70) | $ (1.01) | $ (1.94) |
Weighted-average shares used to compute net loss per share attributable to common stockholders, basic and diluted | 48,953 | 22,847 | 48,001 | 18,182 |
Condensed Consolidated Stateme5
Condensed Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2015 | Dec. 31, 2014 | |
Statement of Comprehensive Income [Abstract] | ||||
Net loss | $ (18,355) | $ (15,929) | $ (48,293) | $ (35,324) |
Other comprehensive loss: | ||||
Unrealized loss on available-for-sale securities, net of tax | (213) | (52) | (186) | (52) |
Comprehensive loss | $ (18,568) | $ (15,981) | $ (48,479) | $ (35,376) |
Condensed Consolidated Stateme6
Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 9 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Cash flows from operating activities: | ||
Net loss | $ (48,293) | $ (35,324) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Depreciation and amortization | 11,058 | 6,089 |
Stock-based compensation expense | 16,603 | 7,592 |
Other | 817 | 208 |
Changes in operating assets and liabilities, net of acquisition of business: | ||
Accounts receivable | (10,010) | (6,754) |
Prepaid expenses and other assets | (1,265) | (1,443) |
Accounts payable | 859 | (777) |
Accrued compensation and benefits and other liabilities | 4,068 | 2,936 |
Deferred rent | 199 | 771 |
Deferred revenue | 28,750 | 13,273 |
Net cash provided by (used in) operating activities | 2,786 | (13,429) |
Cash flows from investing activities: | ||
Purchases of property and equipment | (8,119) | (10,628) |
Acquisition of business, net of cash acquired | (5,498) | (2,262) |
Increase in restricted cash | (3,400) | (25) |
Purchases of short-term investments | (80,046) | (37,189) |
Proceeds from sale and maturity of short-term investments | 55,692 | |
Capitalized software development costs | (5,316) | (6,667) |
Net cash used in investing activities | (46,687) | (56,771) |
Cash flows from financing activities: | ||
Proceeds from issuances of preferred stock, net of issuance costs | 97,243 | |
Proceeds from initial public offering, net of issuance costs | 120,601 | |
Principal payments on debt | (271) | |
Proceeds from issuance of common stock | 10,545 | 914 |
Net cash provided by financing activities | 10,545 | 218,487 |
Net increase (decrease) in cash and cash equivalents | (33,356) | 148,287 |
Cash and cash equivalents, beginning of period | 105,257 | 19,453 |
Cash and cash equivalents, end of period | 71,901 | 167,740 |
Supplemental disclosure of cash flow information: | ||
Cash paid for interest | 76 | 91 |
Noncash investing and financing activities: | ||
Issuance of common stock for the acquisition of business | 6,777 | 1,826 |
Conversion of preferred stock warrants to common stock warrants | 631 | |
Net exercise of preferred stock warrants in connection with the initial public offering | 280 | |
Property and equipment purchased but not paid yet | $ 1,227 | 1,052 |
Accrued initial public offering costs | $ 677 |
Description of Business and Sum
Description of Business and Summary of Significant Accounting Policies | 9 Months Ended |
Dec. 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 Basis of Presentation Balance Sheet Classification of Deferred Taxes 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 (“ASU”) 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 In April 2015, the FASB issued ASU No. 2015-05, Intangibles — Goodwill and Other — Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Fees Paid in a Cloud Computing Arrangement In September 2015, the FASB issued ASU No. 2015-16, Business Combinations (Topic 805): Simplifying the Accounting for Measurement-Period Adjustments In November 2015, the FASB issued ASU No. 2015-17, Income Taxes (Topic 740): Balance Sheet Classification of Deferred Taxes |
Business Combination
Business Combination | 9 Months Ended |
Dec. 31, 2015 | |
Business Combinations [Abstract] | |
Business Combination | 2. Business Combination Opsmatic, Inc. In October 2015, the Company completed the acquisition of Opsmatic, Inc. (“Opsmatic”), a provider of live-state server configuration monitoring across dynamic cloud infrastructure, pursuant to which the Company acquired all of the capital stock of Opsmatic for $5.5 million in cash, up to 161,116 shares of the Company’s common stock, a portion of which are subject to forfeiture in the event of certain indemnification claims by the Company, and 12,008 restricted stock units (“RSUs”) with fair values of $39.15 per share, resulting in an aggregate purchase price of $12.3 million. Of the total purchase price, $2.5 million was allocated to acquired technology and an immaterial amount to net assets acquired, with the excess $9.8 million of the purchase price over the fair value of net tangible and intangible assets acquired recorded as goodwill. The Company also recognized transaction costs of approximately $0.4 million, which is included in general and administrative expense in its condensed consolidated statements of operations for the nine months ended December 31, 2015. The Opsmatic technology complements the Company’s existing server and infrastructure monitoring capabilities. The acquisition has been accounted for as a business combination under the acquisition method. 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 Opsmatic were not material to the Company’s condensed consolidated financial statements in any period presented. The acquisition also included an obligation to issue up to 98,115 shares of its common stock, with an aggregate grant date fair value of $3.8 million, to certain employees of Opsmatic, contingent upon their continuous employment with the Company. As such, compensation expense will be recorded on a straight-line basis over the respective service period of 30 months. As of December 31, 2015, 50,079 of these shares were issued, all of which are subject to repurchase by the Company. Few Ducks, S.L. 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, all of which were issued upon the conclusion of the indemnity holdback period, and $2.3 million in cash resulting in an aggregate purchase price of $4.2 million. Of the total purchase price, $2.8 million was allocated to identifiable intangible assets and $0.7 million to net liabilities assumed, with the excess $2.1 million of the purchase price over the fair value of net tangible liabilities assumed and intangible assets acquired recorded as goodwill. 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 also agreed to issue up to 128,507 shares of its common stock, with an aggregate grant date fair value of $1.9 million, to certain former employees of Ducksboard, contingent upon their continuous employment with the Company. From the date of acquisition, compensation expense is recorded on a straight-line basis over the respective service period of three years. As of December 31, 2015, 38,566 of these shares were issued. |
Fair Value Measurements
Fair Value Measurements | 9 Months Ended |
Dec. 31, 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 December 31, 2015 and March 31, 2015 based on the three-tier fair value hierarchy (in thousands): Fair Value Measurements as of December 31, 2015 Level 1 Level 2 Level 3 Total Description: Money market funds $ 36,117 $ — $ — $ 36,117 Corporate notes and bonds — 25,359 — 25,359 U.S. treasury securities 2,289 — — 2,289 U.S. government agencies — 97,285 — 97,285 Restricted cash - money market funds 8,023 — — 8,023 Total $ 46,429 $ 122,644 $ — $ 169,073 Included in cash and cash equivalents $ 41,945 Included in short-term investments $ 119,105 Included in restricted cash $ 8,023 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 and nine months ended December 31, 2015. In September 2015, the Company executed a $3.4 million letter of credit in connection with a lease signed in June 2015. The cash collateralized letter of credit is classified as restricted cash on the condensed consolidated balance sheet as of December 31, 2015. Level 3 instruments in prior periods consisted solely of the Company’s preferred stock warrant liability. Prior to the 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 and nine months ended December 31, 2014, the Company recognized charges in the amount of $0.3 million and $82,000, respectively, which were recorded as other expense 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 December 31, 2015 and March 31, 2015 were not material. As of December 31, 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 December 31, 2015 and March 31, 2015 (in thousands): December 31, March 31, Due in one year $ 92,793 $ 53,287 Due in one to two years 26,312 42,216 Total $ 119,105 $ 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 | 9 Months Ended |
Dec. 31, 2015 | |
Property, Plant and Equipment [Abstract] | |
Property and Equipment | 4. Property and Equipment Property and equipment, net, consisted of the following (in thousands): December 31, March 31, Computers, software, and equipment $ 4,037 $ 2,985 Site operation equipment 12,691 6,383 Furniture and fixtures 914 868 Leasehold improvements 21,854 20,513 Capitalized software development costs 27,759 21,402 Total property and equipment 67,255 52,151 Less: accumulated depreciation and amortization (26,857 ) (16,754 ) Total property and equipment, net $ 40,398 $ 35,397 Depreciation and amortization expense related to property and equipment was $3.7 million and $2.4 million for the three months ended December 31, 2015 and 2014, respectively, and $10.2 million and $5.9 million for the nine months ended December 31, 2015 and 2014, respectively. |
Goodwill and Purchased Intangib
Goodwill and Purchased Intangibles Assets | 9 Months Ended |
Dec. 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 nine months ended December 31, 2015 are as follows (in thousands): Goodwill as of March 31, 2015 $ 2,053 Goodwill acquired 9,775 Goodwill as of December 31, 2015 $ 11,828 Purchased intangible assets subject to amortization as of December 31, 2015 consist of the following (in thousands): Gross Carrying Accumulated Net Carrying Remaining (In years) Developed technology $ 4,900 $ (1,139 ) $ 3,761 2.83 Customer relationships 100 (61 ) 39 0.75 Other intangible assets 300 (181 ) 119 0.75 $ 5,300 $ (1,381 ) $ 3,919 Purchased intangible assets subject to amortization as of March 31, 2015 consist of the following (in thousands): Gross Carrying Accumulated Net Carrying Remaining (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 was $0.4 million and $0.2 million for the three months ended December 31, 2015 and 2014, respectively, and $0.9 million and $0.2 million for the nine months ended December 31, 2015 and 2014, respectively. Estimated future amortization expense as of December 31, 2015 is as follows (in thousands): 2016 (remaining 3 months) $ 467 2017 $ 1,733 2018 $ 1,233 2019 $ 486 $ 3,919 |
Commitments and Contingencies
Commitments and Contingencies | 9 Months Ended |
Dec. 31, 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 leases approximately 14,067 square feet and will lease an additional approximately 42,201 square feet on June 1, 2016. Deferred Rent Rent expense, net of sublease income, for operating leases was $1.7 million and $1.3 million for the three months ended December 31, 2015 and 2014, respectively, and $4.7 million and $3.9 million for the nine months ended December 31, 2015 and 2014, respectively. Future minimum lease payments under non-cancelable operating leases as of December 31, 2015 were as follows (in thousands): Years Ending March 31, Operating Leases 2016 (remaining 3 months) $ 1,731 2017 8,406 2018 10,251 2019 10,454 2020 10,744 Thereafter 22,951 Total minimum future lease payments $ 64,537 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. Discovery is complete in the case, and the court has ruled on summary judgment motions filed by both parties. A trial date has not been set as of December 31, 2015. The Company cannot at this time predict the likely outcome of this proceeding or estimate the amount or range of loss or possible loss that may arise from it. The Company has not accrued any loss related to the outcome of this case as of December 31, 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 | 9 Months Ended |
Dec. 31, 2015 | |
Equity [Abstract] | |
Common Stock and Stockholders' Equity | 7. Common Stock and Stockholders’ Equity 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 nine months ended December 31, 2015 (in thousands, except per share information): Options Outstanding RSUs Outstanding Weighted- Average Remaining Contractual Term (in years) Weighted- Average Grant Fair Weighted- Average Remaining Contractual Term (in years) Number of Shares Weighted- Average Exercise Price Aggregate Intrinsic Value Number of Shares Aggregate Intrinsic Value Outstanding - April 1, 2015 9,422 $ 10.08 7.9 $ 231,964 723 $ 23.87 3.5 $ 25,098 Stock options granted 621 32.92 RSUs granted 1,008 33.48 Stock options exercised (1,921 ) 5.49 56,534 RSUs vested (123 ) 25.07 Stock options canceled/forfeited (545 ) 15.77 RSUs canceled/forfeited (107 ) 26.97 Outstanding - December 31, 2015 7,577 $ 12.71 6.7 $ 179,964 1,501 $ 30.01 3.3 $ 54,682 Restricted Stock Awards Stock Options Granted to Nonemployees Stock-Based Compensation Expense Three Months Ended December 31, Nine Months Ended December 31, 2015 2014 2015 2014 Cost of revenue $ 333 $ 166 $ 893 $ 359 Research and development 1,684 721 4,223 1,178 Sales and marketing 2,588 1,474 6,634 3,378 General and administrative 1,751 1,065 4,853 2,677 Total stock-based compensation expense $ 6,356 $ 3,426 $ 16,603 $ 7,592 As of December 31, 2015, unrecognized stock-based compensation cost related to outstanding unvested stock options was $33.6 million, which is expected to be recognized over a weighted-average period of approximately 2.5 years. As of December 31, 2015, unrecognized stock-based compensation cost related to outstanding unvested stock awards was $44.4 million, which is expected to be recognized over a weighted-average period of approximately 3.1 years. |
Income Taxes
Income Taxes | 9 Months Ended |
Dec. 31, 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 and an income tax benefit of $0.1 million for the three months ended December 31, 2015 and 2014, respectively, and an income tax provision of $0.2 million and an income tax benefit of $0.1 million for nine months ended December 31, 2015 and 2014, respectively, related to foreign income taxes and state minimum taxes. Based on the available objective evidence during the three and nine months ended December 31, 2015, the Company believes it is more likely than not that the tax benefits of U.S. losses incurred during the three and nine months ended December 31, 2015 may not be realized. Accordingly, the Company did not record the tax benefits of U.S. losses incurred during the three and nine months ended December 31, 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 December 31, 2015, the total amount of gross unrecognized tax benefits was $2.3 million, all of which would affect the Company’s effective tax rate if recognized before consideration of any valuation allowance. As of December 31, 2015, the Company had an immaterial amount related to the accrual of interest and penalties. During the nine months ended December 31, 2015, the Company’s gross unrecognized tax benefits increased by $0.5 million, none of which would affect the Company’s effective tax rate if recognized. The Company does not have any tax positions as of December 31, 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 | 9 Months Ended |
Dec. 31, 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 and nine months ended December 31, 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 December 31, Nine Months Ended December 31, 2015 2014 2015 2014 Numerator: Net loss $ (18,355 ) $ (15,929 ) $ (48,293 ) $ (35,324 ) Denominator: Weighted average shares used to compute net loss per share attributable to common stockholder, basic and diluted 48,953 22,847 48,001 18,182 Net loss per share—basic and diluted $ (0.37 ) $ (0.70 ) $ (1.01 ) $ (1.94 ) The following outstanding options, unvested shares, warrants, and ESPP shares 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 December 31, 2015 2014 Options to purchase common stock 7,577 9,516 Common stock reserved for issuance in connection with acquisition 90 — Restricted stock units 1,501 669 Warrants — 28 ESPP shares 67 — 9,235 10,213 |
Revenue by Geographic Location
Revenue by Geographic Location | 9 Months Ended |
Dec. 31, 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 December 31, Nine Months Ended December 31, 2015 2014 2015 2014 United States $ 32,041 $ 19,123 $ 86,229 $ 51,258 EMEA 9,045 5,704 24,726 14,671 APAC 3,741 2,310 9,945 6,093 Other 2,917 1,892 7,917 4,981 Total revenue $ 47,744 $ 29,029 $ 128,817 $ 77,003 Substantially all of the Company’s long-lived assets were attributable to operations in the United States as of December 31, 2015 and March 31, 2015. |
Description of Business and S17
Description of Business and Summary of Significant Accounting Policies (Policies) | 9 Months Ended |
Dec. 31, 2015 | |
Accounting Policies [Abstract] | |
Description of Business | Description of Business |
Basis of Presentation | Basis of Presentation Balance Sheet Classification of Deferred Taxes 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 (“ASU”) 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 In April 2015, the FASB issued ASU No. 2015-05, Intangibles — Goodwill and Other — Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Fees Paid in a Cloud Computing Arrangement In September 2015, the FASB issued ASU No. 2015-16, Business Combinations (Topic 805): Simplifying the Accounting for Measurement-Period Adjustments In November 2015, the FASB issued ASU No. 2015-17, Income Taxes (Topic 740): Balance Sheet Classification of Deferred Taxes |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 9 Months Ended |
Dec. 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 December 31, 2015 and March 31, 2015 based on the three-tier fair value hierarchy (in thousands): Fair Value Measurements as of December 31, 2015 Level 1 Level 2 Level 3 Total Description: Money market funds $ 36,117 $ — $ — $ 36,117 Corporate notes and bonds — 25,359 — 25,359 U.S. treasury securities 2,289 — — 2,289 U.S. government agencies — 97,285 — 97,285 Restricted cash - money market funds 8,023 — — 8,023 Total $ 46,429 $ 122,644 $ — $ 169,073 Included in cash and cash equivalents $ 41,945 Included in short-term investments $ 119,105 Included in restricted cash $ 8,023 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 December 31, 2015 and March 31, 2015 (in thousands): December 31, March 31, Due in one year $ 92,793 $ 53,287 Due in one to two years 26,312 42,216 Total $ 119,105 $ 95,503 |
Property and Equipment (Tables)
Property and Equipment (Tables) | 9 Months Ended |
Dec. 31, 2015 | |
Property, Plant and Equipment [Abstract] | |
Schedule of Property and Equipment, Net | Property and equipment, net, consisted of the following (in thousands): December 31, March 31, Computers, software, and equipment $ 4,037 $ 2,985 Site operation equipment 12,691 6,383 Furniture and fixtures 914 868 Leasehold improvements 21,854 20,513 Capitalized software development costs 27,759 21,402 Total property and equipment 67,255 52,151 Less: accumulated depreciation and amortization (26,857 ) (16,754 ) Total property and equipment, net $ 40,398 $ 35,397 |
Goodwill and Purchased Intang20
Goodwill and Purchased Intangibles Assets (Tables) | 9 Months Ended |
Dec. 31, 2015 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Changes in Carrying Amount of Goodwill | The changes in the carrying amount of goodwill for the nine months ended December 31, 2015 are as follows (in thousands): Goodwill as of March 31, 2015 $ 2,053 Goodwill acquired 9,775 Goodwill as of December 31, 2015 $ 11,828 |
Schedule of Purchased Intangible Assets Subject to Amortization | Purchased intangible assets subject to amortization as of December 31, 2015 consist of the following (in thousands): Gross Carrying Accumulated Net Carrying Remaining (In years) Developed technology $ 4,900 $ (1,139 ) $ 3,761 2.83 Customer relationships 100 (61 ) 39 0.75 Other intangible assets 300 (181 ) 119 0.75 $ 5,300 $ (1,381 ) $ 3,919 Purchased intangible assets subject to amortization as of March 31, 2015 consist of the following (in thousands): Gross Carrying Accumulated Net Carrying Remaining (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 December 31, 2015 is as follows (in thousands): 2016 (remaining 3 months) $ 467 2017 $ 1,733 2018 $ 1,233 2019 $ 486 $ 3,919 |
Commitments and Contingencies (
Commitments and Contingencies (Tables) | 9 Months Ended |
Dec. 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 December 31, 2015 were as follows (in thousands): Years Ending March 31, Operating Leases 2016 (remaining 3 months) $ 1,731 2017 8,406 2018 10,251 2019 10,454 2020 10,744 Thereafter 22,951 Total minimum future lease payments $ 64,537 |
Common Stock and Stockholders22
Common Stock and Stockholders' Equity (Tables) | 9 Months Ended |
Dec. 31, 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 nine months ended December 31, 2015 (in thousands, except per share information): Options Outstanding RSUs Outstanding Weighted- Average Remaining Contractual Term (in years) Weighted- Average Grant Fair Weighted- Average Remaining Contractual Term (in years) Number of Shares Weighted- Average Exercise Price Aggregate Intrinsic Value Number of Shares Aggregate Intrinsic Value Outstanding - April 1, 2015 9,422 $ 10.08 7.9 $ 231,964 723 $ 23.87 3.5 $ 25,098 Stock options granted 621 32.92 RSUs granted 1,008 33.48 Stock options exercised (1,921 ) 5.49 56,534 RSUs vested (123 ) 25.07 Stock options canceled/forfeited (545 ) 15.77 RSUs canceled/forfeited (107 ) 26.97 Outstanding - December 31, 2015 7,577 $ 12.71 6.7 $ 179,964 1,501 $ 30.01 3.3 $ 54,682 |
Schedule of Stock-based Compensation Expense Attributed to Cost of Revenue, Research and Development, Sales and Marketing and General and Administrative Expenses | Stock-based compensation expense attributed to cost of revenue, research and development, sales and marketing, and general and administrative expenses were as follows (in thousands): Three Months Ended December 31, Nine Months Ended December 31, 2015 2014 2015 2014 Cost of revenue $ 333 $ 166 $ 893 $ 359 Research and development 1,684 721 4,223 1,178 Sales and marketing 2,588 1,474 6,634 3,378 General and administrative 1,751 1,065 4,853 2,677 Total stock-based compensation expense $ 6,356 $ 3,426 $ 16,603 $ 7,592 |
Net Loss Per Share (Tables)
Net Loss Per Share (Tables) | 9 Months Ended |
Dec. 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): Three Months Ended December 31, Nine Months Ended December 31, 2015 2014 2015 2014 Numerator: Net loss $ (18,355 ) $ (15,929 ) $ (48,293 ) $ (35,324 ) Denominator: Weighted average shares used to compute net loss per share attributable to common stockholder, basic and diluted 48,953 22,847 48,001 18,182 Net loss per share—basic and diluted $ (0.37 ) $ (0.70 ) $ (1.01 ) $ (1.94 ) |
Antidilutive Securities Excluded from Computation of Diluted Net Loss per Common Share of Common Stock Equivalents | The following outstanding options, unvested shares, warrants, and ESPP shares 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 December 31, 2015 2014 Options to purchase common stock 7,577 9,516 Common stock reserved for issuance in connection with acquisition 90 — Restricted stock units 1,501 669 Warrants — 28 ESPP shares 67 — 9,235 10,213 |
Revenue by Geographic Location
Revenue by Geographic Location (Tables) | 9 Months Ended |
Dec. 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): Three Months Ended December 31, Nine Months Ended December 31, 2015 2014 2015 2014 United States $ 32,041 $ 19,123 $ 86,229 $ 51,258 EMEA 9,045 5,704 24,726 14,671 APAC 3,741 2,310 9,945 6,093 Other 2,917 1,892 7,917 4,981 Total revenue $ 47,744 $ 29,029 $ 128,817 $ 77,003 |
Description of Business and S25
Description of Business and Summary of Significant Accounting Policies - Additional Information (Detail) | 1 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | 94 Months Ended | ||
Dec. 31, 2014USD ($)$ / sharesshares | Dec. 31, 2015USD ($)Customer | Dec. 31, 2014Customer$ / sharesshares | Dec. 31, 2015USD ($)Customer | Dec. 31, 2014USD ($)Customer$ / sharesshares | Mar. 31, 2015USD ($)Customer | Dec. 31, 2015USD ($) | |
Description Of Business And Summary Of Significant Accounting Policies [Line Items] | |||||||
Company incorporation date | Feb. 20, 2008 | ||||||
Entity Incorporation, State Name | Delaware | ||||||
Proceeds from sale of common stock, net of underwriters' discounts and commissions | $ 120,601,000 | ||||||
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 | shares | 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 | shares | 1.02 | 1.02 | 1.02 | ||||
Series A Through E Preferred Stock [Member] | |||||||
Description Of Business And Summary Of Significant Accounting Policies [Line Items] | |||||||
Convertible preferred stock conversion rate | shares | 1 | 1 | 1 | ||||
Convertible Preferred Stock [Member] | |||||||
Description Of Business And Summary Of Significant Accounting Policies [Line Items] | |||||||
Number of convertible preferred stock shares converted | shares | 24,813,343 | ||||||
Initial Public Offering [Member] | |||||||
Description Of Business And Summary Of Significant Accounting Policies [Line Items] | |||||||
Common stock shares issued | shares | 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 | $ 23 | $ 23 | ||||
Offering expenses | $ 3,100,000 | ||||||
Accounts Receivable [Member] | |||||||
Description Of Business And Summary Of Significant Accounting Policies [Line Items] | |||||||
Number of customers | Customer | 0 | 1 | |||||
Revenue [Member] | |||||||
Description Of Business And Summary Of Significant Accounting Policies [Line Items] | |||||||
Number of customers | Customer | 0 | 0 | 0 | 0 | |||
Credit Concentration Risk [Member] | Accounts Receivable [Member] | |||||||
Description Of Business And Summary Of Significant Accounting Policies [Line Items] | |||||||
Concentration of risk, percentage | 10.00% | 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% | 10.00% | 10.00% | |||
Restatement Adjustment [Member] | New Accounting Pronouncement, Early Adoption, Effect [Member] | |||||||
Description Of Business And Summary Of Significant Accounting Policies [Line Items] | |||||||
Current deferred tax liabilities | $ (900,000) | $ (900,000) | (900,000) | ||||
Non-current deferred tax liabilities | $ 900,000 | $ 900,000 | $ 900,000 |
Business Combination - Addition
Business Combination - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands | Dec. 31, 2015 | Oct. 31, 2015 | Oct. 31, 2014 | Dec. 31, 2015 | Mar. 31, 2015 |
Business Acquisition [Line Items] | |||||
Preliminary purchase price allocation, goodwill | $ 11,828 | $ 11,828 | $ 2,053 | ||
Opsmatic, Inc. [Member] | |||||
Business Acquisition [Line Items] | |||||
Purchase consideration paid in cash | $ 5,500 | ||||
Number of shares issued to acquire capital stock | 161,116 | ||||
Business acquisition, aggregate purchase price | $ 12,300 | ||||
Preliminary purchase price allocation, goodwill | $ 9,800 | ||||
Expensed related acquisition costs in general and administrative expenses | $ 400 | $ 400 | |||
Business acquisition obligation to issue common stock, shares | 98,115 | ||||
Service period of compensation expense | 30 months | ||||
Number of common stock shares issued | 50,079 | ||||
Opsmatic, Inc. [Member] | Restricted Stock Units [Member] | |||||
Business Acquisition [Line Items] | |||||
Number of shares issued to acquire capital stock | 12,008 | ||||
Fair value of shares issued to acquire capital stock | $ 39.15 | ||||
Ducksboard [Member] | |||||
Business Acquisition [Line Items] | |||||
Purchase consideration paid in cash | $ 2,300 | ||||
Number of shares issued to acquire capital stock | 121,493 | 38,566 | |||
Business acquisition, aggregate purchase price | $ 4,200 | ||||
Preliminary purchase price allocation, identifiable intangible assets | 2,800 | ||||
Preliminary purchase price allocation, goodwill | $ 2,100 | ||||
Business acquisition obligation to issue common stock, shares | 128,507 | ||||
Service period of compensation expense | 3 years | ||||
Number of common stock shares issued | 121,493 | ||||
Preliminary purchase price allocation, net liabilities assumed | $ 700 | ||||
Issuance of common stock with grant date fair value | $ 1,900 | ||||
Technology [Member] | Opsmatic, Inc. [Member] | |||||
Business Acquisition [Line Items] | |||||
Preliminary purchase price allocation, identifiable intangible assets | $ 2,500 |
Fair Value Measurements - Infor
Fair Value Measurements - Information about Financial Assets Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands | Dec. 31, 2015 | Mar. 31, 2015 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets fair value | $ 169,073 | $ 165,580 |
Cash and Cash Equivalents [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets fair value | 41,945 | 65,454 |
Short-Term Investments [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets fair value | 119,105 | 95,503 |
Restricted Cash [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets fair value | 8,023 | 4,623 |
Money Market Funds [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets fair value | 36,117 | 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 | 30,288 | |
Corporate Notes and Bonds [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets fair value | 25,359 | 38,715 |
US Treasury Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets fair value | 2,289 | 500 |
US Government Agencies [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets fair value | 97,285 | 33,199 |
Restricted Cash - Money Market Funds [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets fair value | 8,023 | 4,623 |
Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets fair value | 46,429 | 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 | 36,117 | 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 | 2,289 | 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 | 8,023 | 4,623 |
Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets fair value | 122,644 | 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 | 25,359 | 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 | $ 97,285 | $ 33,199 |
Fair Value Measurements - Addit
Fair Value Measurements - Additional Information (Detail) - USD ($) | 1 Months Ended | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2015 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2015 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Transfers between fair value measurement levels | $ 0 | $ 0 | ||||
Letter of credit executed | $ 3,400,000 | $ 25,000 | ||||
Fair value measurements charges recognized | $ 300,000 | $ 82,000 | ||||
Closing date of IPO | Dec. 31, 2014 | |||||
Unrealized loss position of securities for more than 12 months | $ 0 | $ 0 | $ 0 | |||
Letter of Credit [Member] | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Letter of credit executed | $ 3,400,000 |
Fair Value Measurements - Class
Fair Value Measurements - Classification of Available-for-Sale Short-Term Investments by Contractual Maturities (Detail) - USD ($) $ in Thousands | Dec. 31, 2015 | Mar. 31, 2015 |
Available-for-sale Securities, Debt Maturities, Fair Value, Fiscal Year Maturity [Abstract] | ||
Due in one year | $ 92,793 | $ 53,287 |
Due in one to two years | 26,312 | 42,216 |
Total | $ 119,105 | $ 95,503 |
Property and Equipment - Schedu
Property and Equipment - Schedule of Property and Equipment, Net (Detail) - USD ($) $ in Thousands | Dec. 31, 2015 | Mar. 31, 2015 |
Property, Plant and Equipment [Line Items] | ||
Total property and equipment | $ 67,255 | $ 52,151 |
Less: accumulated depreciation and amortization | (26,857) | (16,754) |
Total property and equipment, net | 40,398 | 35,397 |
Computers, Software, and Equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Total property and equipment | 4,037 | 2,985 |
Site Operation Equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Total property and equipment | 12,691 | 6,383 |
Furniture and Fixtures [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Total property and equipment | 914 | 868 |
Leasehold Improvements [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Total property and equipment | 21,854 | 20,513 |
Capitalized Software Development Costs [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Total property and equipment | $ 27,759 | $ 21,402 |
Property and Equipment - Additi
Property and Equipment - Additional Information (Detail) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2015 | Dec. 31, 2014 | |
Property, Plant and Equipment [Abstract] | ||||
Depreciation and amortization expense | $ 3.7 | $ 2.4 | $ 10.2 | $ 5.9 |
Goodwill and Purchased Intang32
Goodwill and Purchased Intangibles Assets - Changes in Carrying Amount of Goodwill (Detail) $ in Thousands | 9 Months Ended |
Dec. 31, 2015USD ($) | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill as of March 31, 2015 | $ 2,053 |
Goodwill acquired | 9,775 |
Goodwill as of December 31, 2015 | $ 11,828 |
Goodwill and Purchased Intang33
Goodwill and Purchased Intangibles Assets - Schedule of Purchased Intangible Assets Subject to Amortization (Detail) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended |
Dec. 31, 2015 | Mar. 31, 2015 | |
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Amount | $ 5,300 | $ 2,800 |
Accumulated Amortization | (1,381) | (500) |
Net Carrying Amount | 3,919 | 2,300 |
Developed Technology Rights [Member] | ||
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Amount | 4,900 | 2,400 |
Accumulated Amortization | (1,139) | (400) |
Net Carrying Amount | $ 3,761 | 2,000 |
Remaining Useful Life (In years) | 2 years 9 months 29 days | |
Customer Relationships [Member] | ||
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Amount | $ 100 | 100 |
Accumulated Amortization | (61) | (25) |
Net Carrying Amount | $ 39 | $ 75 |
Remaining Useful Life (In years) | 9 months | 1 year 6 months |
Other Intangible Assets [Member] | ||
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Amount | $ 300 | $ 300 |
Accumulated Amortization | (181) | (75) |
Net Carrying Amount | $ 119 | $ 225 |
Remaining Useful Life (In years) | 9 months | 1 year 6 months |
Goodwill and Purchased Intang34
Goodwill and Purchased Intangibles Assets - Additional Information (Detail) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2015 | Dec. 31, 2014 | |
Goodwill and Intangible Assets Disclosure [Abstract] | ||||
Amortization expense | $ 0.4 | $ 0.2 | $ 0.9 | $ 0.2 |
Goodwill and Purchased Intang35
Goodwill and Purchased Intangibles Assets - Schedule of Estimated Future Amortization Expense (Detail) - USD ($) $ in Thousands | Dec. 31, 2015 | Mar. 31, 2015 |
Goodwill and Intangible Assets Disclosure [Abstract] | ||
2016 (remaining 3 months) | $ 467 | |
2,017 | 1,733 | |
2,018 | 1,233 | |
2,019 | 486 | |
Net Carrying Amount | $ 3,919 | $ 2,300 |
Commitments and Contingencies -
Commitments and Contingencies - Additional Information (Detail) | 1 Months Ended | 3 Months Ended | 9 Months Ended | |||
Jun. 30, 2015ft² | Dec. 31, 2015USD ($) | Dec. 31, 2014USD ($) | Dec. 31, 2015USD ($) | Dec. 31, 2014USD ($) | Mar. 31, 2015USD ($) | |
Operating Leased Assets [Line Items] | ||||||
Non-cancelable operating lease agreements, expiration dates | From 2017 through 2023 | |||||
Deferred rent | $ 5,100,000 | $ 5,100,000 | $ 4,900,000 | |||
Rent expense, net of sublease income, for operating leases | 1,700,000 | $ 1,300,000 | 4,700,000 | $ 3,900,000 | ||
Purchase commitments | 3,200,000 | 3,200,000 | $ 3,600,000 | |||
Accrued loss | $ 0 | $ 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 Contingencies37
Commitments and Contingencies - Future Minimum Lease Payments Under Non-Cancelable Operating Leases (Detail) $ in Thousands | Dec. 31, 2015USD ($) |
Leases [Abstract] | |
2016 (remaining 3 months) | $ 1,731 |
2,017 | 8,406 |
2,018 | 10,251 |
2,019 | 10,454 |
2,020 | 10,744 |
Thereafter | 22,951 |
Total minimum future lease payments | $ 64,537 |
Common Stock and Stockholders38
Common Stock and Stockholders' Equity - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands | 1 Months Ended | 3 Months Ended | 9 Months Ended | |||||
Dec. 31, 2014 | May. 31, 2014 | Aug. 31, 2013 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2015 | |
Class of Stock [Line Items] | ||||||||
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 | 1,008,000 | |||||||
Grant date fair value of restricted stock awards, per share | $ 33.48 | |||||||
Stock-based compensation expense | $ 6,356 | $ 3,426 | $ 16,603 | $ 7,592 | ||||
Stock options granted | 621,000 | |||||||
Stock-based compensation cost expected to be recognized over weighted-average period | 3 years 1 month 6 days | |||||||
Unrecognized stock-based compensation cost related to outstanding unvested stock awards | 44,400 | $ 44,400 | ||||||
Expected to vest unrecognized stock-based compensation cost related to outstanding unvested stock options | 33,600 | $ 33,600 | ||||||
Stock based compensation cost is expected to be recognized over a weighted-average period | 2 years 6 months | |||||||
Nonemployees [Member] | ||||||||
Class of Stock [Line Items] | ||||||||
Stock-based compensation expense | $ 200 | $ 300 | $ 700 | $ 400 | ||||
Stock options granted | 12,069 | 60,175 | 23,676 | 110,175 | ||||
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 | $ 300 | $ 300 | ||||
Restricted stock awards, vested | 83,332 | 83,332 | ||||||
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 | ||||||
Common stock purchased under Employee Stock Purchase Plan | 0 | |||||||
2014 Equity Incentive Plan [Member] | ||||||||
Class of Stock [Line Items] | ||||||||
Shares reserved for issuance under plan | 5,000,000 | 5,000,000 | 5,000,000 | |||||
Shares available for issuance | 6,526,991 | 6,526,991 | ||||||
Shares available for grant under plan | 5,184,878 | 5,184,878 | 5,184,878 | |||||
Increase in shares available under plan, percentage of outstanding common stock shares | 5.00% | |||||||
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 and Stockholders39
Common Stock and Stockholders' Equity - Schedule of Stock Option and RSU Award Activities (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 9 Months Ended | 12 Months Ended |
Dec. 31, 2015 | Mar. 31, 2015 | |
Number of Shares | ||
Beginning balance | 9,422 | |
Stock options granted | 621 | |
Stock options exercised | (1,921) | |
Stock options canceled/forfeited | (545) | |
Ending balance | 7,577 | 9,422 |
Weighted-Average Exercise Price | ||
Beginning balance | $ 10.08 | |
Stock options granted | 32.92 | |
Stock options exercised | 5.49 | |
Stock options canceled/forfeited | 15.77 | |
Ending balance | $ 12.71 | $ 10.08 |
Weighted-Average Remaining Contractual Term (in years) | ||
Balance | 6 years 8 months 12 days | 7 years 10 months 24 days |
Aggregate Intrinsic Value | ||
Beginning balance | $ 231,964 | |
Stock options exercised | 56,534 | |
Ending balance | $ 179,964 | $ 231,964 |
Number of Shares | ||
Beginning balance | 723 | |
RSUs granted | 1,008 | |
RSUs vested | (123) | |
RSUs canceled/forfeited | (107) | |
Ending balance | 1,501 | 723 |
Weighted-Average Grant Date Fair Value | ||
Beginning balance | $ 23.87 | |
RSUs granted | 33.48 | |
RSUs vested | 25.07 | |
RSUs canceled/forfeited | 26.97 | |
Ending balance | $ 30.01 | $ 23.87 |
Weighted-Average Remaining Contractual Term (in years) | ||
Balance | 3 years 3 months 18 days | 3 years 6 months |
Aggregate Intrinsic Value | ||
Beginning balance | $ 25,098 | |
RSUs vested | 0 | |
Ending balance | $ 54,682 | $ 25,098 |
Common Stock and Stockholders40
Common Stock and Stockholders' Equity - Schedule of Stock-based Compensation Expense Attributed to Cost of Revenue, Research and Development, Sales and Marketing and General and Administrative Expenses (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2015 | Dec. 31, 2014 | |
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ||||
Total stock-based compensation expense | $ 6,356 | $ 3,426 | $ 16,603 | $ 7,592 |
Cost of Revenue [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ||||
Total stock-based compensation expense | 333 | 166 | 893 | 359 |
Research and Development [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ||||
Total stock-based compensation expense | 1,684 | 721 | 4,223 | 1,178 |
Sales and Marketing [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ||||
Total stock-based compensation expense | 2,588 | 1,474 | 6,634 | 3,378 |
General and Administrative [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items] | ||||
Total stock-based compensation expense | $ 1,751 | $ 1,065 | $ 4,853 | $ 2,677 |
Income Taxes - Additional Infor
Income Taxes - Additional Information (Detail) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2015 | Dec. 31, 2014 | |
Income Tax Contingency [Line Items] | ||||
Income tax provision (benefit) | $ 92,000 | $ (104,000) | $ 153,000 | $ (104,000) |
Unrecognized tax benefits | 2,300,000 | 2,300,000 | ||
Unrecognized tax benefits that would affect income tax expense | 2,300,000 | 2,300,000 | ||
Changes to unrecognized tax benefits | 500,000 | |||
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 December 31, 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 (benefit) | $ 0 | $ 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 | 9 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2015 | Dec. 31, 2014 | |
Numerator: | ||||
Net loss | $ (18,355) | $ (15,929) | $ (48,293) | $ (35,324) |
Denominator: | ||||
Weighted average shares used to compute net loss per share attributable to common stockholder, basic and diluted | 48,953 | 22,847 | 48,001 | 18,182 |
Net loss per share-basic and diluted | $ (0.37) | $ (0.70) | $ (1.01) | $ (1.94) |
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 | 9 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Antidilutive securities excluded from computation of diluted net loss per common share | 9,235 | 10,213 |
2014 Employee Stock Purchase Plan [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Antidilutive securities excluded from computation of diluted net loss per common share | 67 | |
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 | 7,577 | 9,516 |
Warrants [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Antidilutive securities excluded from computation of diluted net loss per common share | 28 | |
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 | 1,501 | 669 |
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 | 90 |
Revenue by Geographic Locatio44
Revenue by Geographic Location - Schedule of Revenue by Geographic Areas (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2015 | Dec. 31, 2014 | |
Segment Reporting Information [Line Items] | ||||
Total revenue | $ 47,744 | $ 29,029 | $ 128,817 | $ 77,003 |
United States [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Total revenue | 32,041 | 19,123 | 86,229 | 51,258 |
EMEA [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Total revenue | 9,045 | 5,704 | 24,726 | 14,671 |
APAC [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Total revenue | 3,741 | 2,310 | 9,945 | 6,093 |
Other [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Total revenue | $ 2,917 | $ 1,892 | $ 7,917 | $ 4,981 |